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			'id' => '2413',
			'article_category_id' => '140',
			'title' => '36 Entrepreneurs, Firms To Be Recognized With CIP Honour',
			'sub_title' => '',
			'summary' => null,
			'content' => '<div>
	<strong>--By TC Correspondent</strong></div>
<div>
	&nbsp;</div>
<div>
	The government will soon be honouring three dozen entrepreneurs and business persons as Commercially Important Person (CIP) for their contribution to the economy and commercial sector. A meeting of the Technical Committee of the Trade and Export Promotion Centre (TEPC) on January 1 decided to recommend the names of 36 exporters, importers, investors, employers and entrepreneurs to the Ministry of Commerce and Supplies (MoCS) in order to recognize them with the CIP hounour within the month of January. According to TEPC Executive Director Ishwari Prasad Ghimire, a minister level decision will be taken at the earliest possible to honour the industrialists and entrepreneurs.</div>
<div>
	&nbsp;</div>
<div>
	According to the Guidelines for the CIP honour, entrepreneurs and companies with controversial background will not be awarded with the honour. It is because of this provision that the list of the entrepreneurs and firms to be hounoured was pending at the In-land Revenue Department (IRD|) for a long time for investigation. &ldquo;That&rsquo;s why it took a long time to finalise the list,&rdquo; a source said. Now the IRD has given its go-ahead, it is learnt. There are eight categories of the entrepreneurs and companies to be awarded the CIP honour - 13 Nepali exporters, nine foreign importers of Nepali goods, eight business chambers and commodities associations, two from the tourism sector, one highest taxpayer, one highest employment creator, one highest investor in manufacturing sector, and one from the remittance sector. Those awarded with the CIP honour will get high priority to meet the Prime Minister and ministers. Similarly they will get VIP privileges at the Tribhuvan International Airport. Foreigners who will get the award will get on-arrival visas of 15 to 90 days.&nbsp;</div>
<div>
	&nbsp;</div>
<div>
	According to the provisions of the guidelines, the government will not award CIP to any person or business blacklisted by any government authority; blacklisted by Credit Information Bureau as a defaulter of any bank or financial institution; of bad moral and convicted by the court; convicted of corruption and financial irregularities and tax defaulter till the previous year.&nbsp;</div>',
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			'keywords' => 'the corporate weekly from Nepal, nepali corporate events – news – interviews – reviews, nepali corporate focus, nepali corporate status and news, news from nepali corporate industry, corporate happenings – events – news from nepal',
			'description' => 'The government will soon be honouring three dozen entrepreneurs and business persons as Commercially Important Person (CIP) for their contribution to the economy and commercial sector. A meeting of the Technical Committee of the Trade and Export Promotion Centre (TEPC) on January 1 decided to recommend the names of 36 exporters, importers, investors, employers and entrepreneurs to the Ministry of Commerce and Supplies (MoCS) in order to recognize them with the CIP hounour within the month of January.',
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			'id' => '2366',
			'article_category_id' => '140',
			'title' => 'Online Building Permit From Mid-January',
			'sub_title' => '',
			'summary' => null,
			'content' => '<div>
	<strong>--By TC Correspondent</strong></div>
<div>
	&nbsp;</div>
<div>
	The government is preparing to implement online building permit from mid-January, 2014. According to Suresh Prakash Acharya, spokesperson for the Ministry of Urban Development (MoUD), the decision to implement online permit will minimize the hassles seen in the landownership registration process. &ldquo;At present the land registration process takes nearly six months,&rdquo; he said, &ldquo;after the online system is implemented, it will take just about 15 days.&rdquo;</div>
<div>
	&nbsp;</div>
<div>
	He added that the online permit system will take away the trouble of visiting the land registration office. The government has already implemented the online permit system in certain wards of the Kathmandu Metropolis and Lalitpur Sub-metropolis.</div>
<div>
	&nbsp;</div>
<div>
	Secretary at the MoUD, Kishore Thapa, told The Corporate that the online permit system will be gradually implemented across the country once it becomes successful in the Kathmandu Valley. The Kathmandu Metropolis has implemented this project as a pilot project in certain wards. As all wards of Kathmandu Metropolis are connected with the Internet, officials at the MoUD hope that the project will be successful.</div>
<div>
	&nbsp;</div>
<div>
	&ldquo;All [municipal and VDC] wards should be connected with electricity and Internet,&rdquo; Thapa said, &ldquo;Online building permit system can be implemented if all places are connected with electricity and Internet.&rdquo;</div>
<div>
	&nbsp;</div>
<div>
	Once there is an agreement between the seller and buyer of a piece of land, an electronic copy of the map of the land will be sent to the concerned government office through online. Then the land will be registered in the name of the buyer. One the service seekers bring their file to the concerned government office, they can monitor the land registration process online.</div>',
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			'created' => '2013-12-31',
			'modified' => '2013-12-31',
			'keywords' => 'the corporate weekly from Nepal, nepali corporate events – news – interviews – reviews, nepali corporate focus, nepali corporate status and news, news from nepali corporate industry, corporate happenings – events – news from nepal',
			'description' => 'The government is preparing to implement online building permit from mid-January, 2014. According to Suresh Prakash Acharya, spokesperson for the Ministry of Urban Development (MoUD), the decision to implement online permit will minimize the hassles seen in the landownership registration process. “At present the land registration process takes nearly six months,” he said, “after the online system is implemented, it will take just about 15 days.”',
			'sortorder' => '2213',
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			'id' => '2369',
			'article_category_id' => '140',
			'title' => 'Nepal Political Economic News In Brief (30 December - 5 January 2013)',
			'sub_title' => '',
			'summary' => null,
			'content' => '<div>
	<span style="font-size:14px;"><strong>HLPC Formalizes Four-point Deal</strong></span></div>
<div>
	A meeting of the High Level Political Committee (HLPC) on December 24 has formalised the four-point agreement reached by the top three parties. The meeting also decided to request the Election Commission to extend the deadline for submission of Proportional Representation (PR) names for the Constituent Assembly by five more days. Eight parties, including the Nepali Congress, CPN-UML, UCPN-M and Madhesh-based parties have signed the deal, paving the way for the formation of the Constituent Assembly. The four agreements are: Formation of a parliamentary panel to investigate the alleged vote-rigging during the Nov 19 CA polls; continuation of the HLPC by including top leaders of other parties present in the CA; Promulgate the new Constitution within a year; and form a Truth and Reconciliation Commission to conclude the peace process.</div>
<div>
	&nbsp;</div>
<div>
	<span style="font-size:14px;"><strong>18 Parties Agree to Join CA</strong></span></div>
<div>
	Eighteen political parties including the UCPN (Maoist) have decided to join the newly elected Constituent Assembly (CA) after the three major parties &ndash; Nepali Congress (NC), CPN (UML) AND UCPN (Maoist) reached a four-point deal on December 24. A meeting of 18 political parties held at the UCPN (M) headquarters at Parisdanda agreed to participate in the CA arguing that the NC and UML had accepted their demands. Talking to media persons after the meeting, UCPN(Maoist) Spokesperson Agni Prasad Sapkota said they decided to be a part of the new CA after the NC and UML agreed to address their demands.&nbsp;</div>
<div>
	&nbsp;</div>
<div>
	<span style="font-size:14px;"><strong>PR List Submission Deadline Extended by Five Days&nbsp;</strong></span></div>
<div>
	The Election Commission (EC) on December 25 extended the deadline for submission of names of winning candidates under the proportional representation (PR) system by five more days. This is the third deadline extension by the constitutional body upon the request of the political parties. Parties now have to submit their PR lists by December 30. Top leaders of the major political parties had reached the EC on Dec 23 asking for the deadline extension after signing the four-point agreement.</div>
<div>
	&nbsp;</div>
<div>
	<span style="font-size:14px;"><strong>New Govt and CA Meet Soon: Regmi</strong></span></div>
<div>
	Chairman of the Council of Ministers, Khil Raj Regmi has said that the formation of the Constituent Assembly (CA) and a new government will take place soon. Addressing a programme in the Capital on December 25, Chairman Regmi said that the first session of the CA and the process of forming a new elected government will begin soon. &ldquo;I&rsquo;m confident that the new session of CA will begin soon, so will be the task of forming a new government and promulgating a new constitution,&rdquo; Regmi said. &ldquo;Now we should invest our skills and labor for development, peace and socio-economic transformation of the country,&rdquo; remarked Regmi.</div>
<div>
	&nbsp;</div>
<div>
	<span style="font-size:14px;"><strong>UCPN (Maoist)&rsquo;s Unconditional Support to NC-led Govt</strong></span></div>
<div>
	Former finance minister and leader of the UCPN (Maoist) Barshaman Pun has said that his party will extend unconditional support to the next government to be led by the Nepali Congress. He, however, said that his party will not participate in the new government to be formed. &ldquo;We will play a constructive role of an opposition party inside the Constituent Assembly. We will not engage in the game of changing the government. Our focus will be on promulgating the new constitution within a year,&rdquo; Pun said, speaking at a programme in the Capital on December 25.</div>',
			'published' => true,
			'created' => '2013-12-31',
			'modified' => '2014-01-04',
			'keywords' => 'the corporate weekly from Nepal, nepali corporate events – news – interviews – reviews, nepali corporate focus, nepali corporate status and news, news from nepali corporate industry, corporate happenings – events – news from nepal',
			'description' => 'A meeting of the High Level Political Committee (HLPC) on December 24 has formalised the four-point agreement reached by the top three parties. The meeting also decided to request the Election Commission to extend the deadline for submission of Proportional Representation (PR) names for the Constituent Assembly by five more days. Eight parties, including the Nepali Congress, CPN-UML, UCPN-M and Madhesh-based parties have signed the deal, paving the way for the formation of the Constituent Assembly. The four agreements are: Formation of a parliamentary panel to investigate the alleged vote-rigging during the Nov 19 CA polls; continuation of the HLPC by including top leaders of other parties present in the CA; Promulgate the new Constitution within a year; and form a Truth and Reconciliation Commission to conclude the peace process',
			'sortorder' => '2211',
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	(int) 3 => array(
		'Article' => array(
			'id' => '2368',
			'article_category_id' => '140',
			'title' => 'Weekly Round Up (23 - 29 December 2013)',
			'sub_title' => '',
			'summary' => null,
			'content' => '<div>
	<span style="font-size:14px;"><strong>Gearing Revenue Mobilisation</strong></span></div>
<div>
	Finance Minister Shanker Prasad Koirala has directed revenue administration officials to work efficiently to meet the daily target of Rs 1 billion revenue mobilisation. Speaking at a programme organised by the Big Taxpayers&rsquo; Office on December 23, Koirala urged the officials to be more professional and efficient and meet the revenue target. He also motivated them to fully utilise the time of mid-December to mid-January as this period is the time to collect more revenue in the country. &ldquo;Don&rsquo;t lose your professionalism thinking that the current government will be gone soon. The revenue collection target will be same whoever comes as the finance minister,&rdquo; he said.</div>
<div>
	&nbsp;</div>
<div>
	<span style="font-size:14px;"><strong>WB Funds Agri-Development</strong></span></div>
<div>
	The World Bank (WB) has approved US$ 150 million for two projects designed to help improve connectivity and raise agricultural productivity across 33 districts. The project titled &ldquo;Strengthening the National Rural Transport Programme&rdquo;, which has received USD 100 million intends to enhance the availability and reliability of transport connectivity in 33 districts. They are Arghakhanchi, Banke, Bara, Bardia, Bhojpur, Dang, Dhading, Dhanusha, Gulmi, Kailali, Kanchanpur, Kapilvastu, Kaski, Mahottari, Makwanpur, Nawalparasi, Nuwakot, Palpa, Parsa, Pyuthan, Rasuwa, Rautahat, Rupandehi, Salyan, Sakhuwasabha, Saptari, Sarlahi, Siraha, Surkhet, Syangja, Tanahu, Tehrathum and Udaypur, according to a press statement from the Bank. Similarly, the Irrigation and Water Resources Management Project, which is under implementation since December 2007 has received US$ 50 million. The assistance will help rehabilitate 80 additional farmer-managed irrigation schemes (FMIS) in 40 districts of the Western, Mid-Western and Far-Western Regions of Nepal.</div>
<div>
	&nbsp;</div>
<div>
	<span style="font-size:14px;"><strong>Load-shedding for Half the Day</strong></span></div>
<div>
	Energy Minister Umakanta Jha has said the load-shedding time will not exceed 12 hours a day this winter. Talking to journalists at Bharatpur on December 25, Jha said the country witnessed 15-hour power outage a day last winter. &ldquo;But, this time it will be limited to 12 hours a day,&rdquo; said Minister Jha who had reached there to inspect the Narayani river embankment. He added that the government was preparing to import 200 MW of electricity from India to keep the load-shedding duration below 12 hours a day.</div>
<div>
	&nbsp;</div>
<div>
	<span style="font-size:14px;"><strong>Biratnagar Golchha Office Gutted</strong></span></div>
<div>
	An estimated property worth over Rs. 50 million was destroyed when the Biratnagar office of Golchha Organisation caught fire on December 26. It took firefighters one and a half hours to douse the fire which was detected at around 9 in the morning. According to sources, the fire was caused by a short circuit in the third floor of the building that housed the account section of the office. The fire is said to have destroyed office equipment, furniture and important records of the office. There was human casualty.</div>
<div>
	&nbsp;</div>
<div>
	<span style="font-size:14px;"><strong>Far-west Industrial Trade Fair</strong></span></div>
<div>
	With the aim of promoting industrial and economic development of the Far-western Development Region, a 10-day &lsquo;Far-West Industrial Trade Fair&rsquo; is going to be organized in Mahendranagar from January 10, 2014. The Fair will feature 150 stalls of various products from various districts of Far-West. The Fair is being organised with support from the ministries of agriculture development, commerce and supplies, Bhimduttanagar Municipality and the private sector. The organisers expect over 150,000 visitors and a transaction of over Rs 120 million during the fair.</div>',
			'published' => true,
			'created' => '2013-12-31',
			'modified' => '2013-12-31',
			'keywords' => 'the corporate weekly from Nepal, nepali corporate events – news – interviews – reviews, nepali corporate focus, nepali corporate status and news, news from nepali corporate industry, corporate happenings – events – news from nepal',
			'description' => 'Finance Minister Shanker Prasad Koirala has directed revenue administration officials to work efficiently to meet the daily target of Rs 1 billion revenue mobilisation. Speaking at a programme organised by the Big Taxpayers’ Office on December 23, Koirala urged the officials to be more professional and efficient and meet the revenue target',
			'sortorder' => '2210',
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	(int) 4 => array(
		'Article' => array(
			'id' => '2367',
			'article_category_id' => '140',
			'title' => '‘Sushil Koirala  To Lead New Govt’',
			'sub_title' => '',
			'summary' => null,
			'content' => '<div>
	<strong>--By TC Correspondent</strong></div>
<div>
	&nbsp;</div>
<div>
	Nepali Congress (NC) Spokesperson Dilendra Prasad Badu has said that the new government will be formed under the leadership of the party&rsquo;s President Sushil Koirala once the Constituent Assembly (CA) gets a full shape.</div>
<div>
	&nbsp;</div>
<div>
	Speaking at an interaction program in Kathmandu on December 27, Badu also made it clear that there was no dispute inside the NC about Koirala leading the new government.</div>
<div>
	&nbsp;</div>
<div>
	&ldquo;We will try to form a consensus government by bringing all major political parties on board. If this does not happen, a majority government will be formed,&rdquo; said Badu.&nbsp;</div>
<div>
	&nbsp;</div>
<div>
	UCPN (Maoist leaders have already said to extend unconditional support to a NC-led government.</div>',
			'published' => true,
			'created' => '2013-12-31',
			'modified' => '2013-12-31',
			'keywords' => 'the corporate weekly from Nepal, nepali corporate events – news – interviews – reviews, nepali corporate focus, nepali corporate status and news, news from nepali corporate industry, corporate happenings – events – news from nepal',
			'description' => 'Nepali Congress (NC) Spokesperson Dilendra Prasad Badu has said that the new government will be formed under the leadership of the party’s President Sushil Koirala once the Constituent Assembly (CA) gets a full shape.',
			'sortorder' => '2209',
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			'id' => '2365',
			'article_category_id' => '140',
			'title' => '4 Out Of 5 Farmers Lack Access To Loans',
			'sub_title' => '',
			'summary' => null,
			'content' => '<div>
	<strong>--By TC Correspondent</strong></div>
<div>
	&nbsp;</div>
<div>
	Of the total farm households in the country, nearly 79 percent lack access to formal financial services provided by banks and financial institutions (BFIs). According to bankers,&nbsp;</div>
<div>
	a huge majority of farmers do not have access to agro loans as the BFIs are yet to penetrate the rural areas. The process of sanctioning loans to farmers is not hassle-free even where the BFIs are present, as revealed by the National Agriculture Census Report 2011/12.</div>
<div>
	&nbsp;</div>
<div>
	According to the Report, 3,831,093 households in the country own land. Out of them, only 835,921 households (21.81 per cent) have availed agro loans. This means a whopping 2,995,172 households do not have access to bank loans. The Report says that of the total farm households, 42 per cent have said that they need agro loans.</div>
<div>
	&nbsp;</div>
<div>
	President of Nepal Bankers&rsquo; Association and CEO of Citizens Bank International, Rajan Singh Bhandari informed The Corporate that though banks have increased their investment in the agriculture sector, the banks have not been able to take financial services to all farmers. &ldquo;The commercial banks lack the capacity to take financial services to all the farming households in the country,&rdquo; he said.</div>
<div>
	&nbsp;</div>
<div>
	President of Development Bankers Association, Nepal, and CEO of Kaliash Development Bank, Krishna Raj Lamichhane accepts that the agricultural loan flow from the BFIs at present is not enough. &ldquo;We need a special policy to increase farmers&rsquo; access to financial services,&rdquo; says Lamichhane.</div>
<div>
	&nbsp;</div>
<div>
	The latest census shows that of the farmers who have taken loans for agricultural purpose, 34.57 per cent have borrowed from their relatives. Similarly, 16.61 per cent of such farmers have borrowed from the Agricultural Development Bank, 8.67 per cent from the commercial banks, 15.67 per cent from cooperatives, 9.73 per cent from farmers&rsquo; groups, 12.95 per cent from women&rsquo;s groups, and 5.78 per cent have borrowed from &lsquo;others&rsquo;.</div>',
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			'created' => '2013-12-31',
			'modified' => '2013-12-31',
			'keywords' => 'the corporate weekly from Nepal, nepali corporate events – news – interviews – reviews, nepali corporate focus, nepali corporate status and news, news from nepali corporate industry, corporate happenings – events – news from nepal',
			'description' => 'Of the total farm households in the country, nearly 79 percent lack access to formal financial services provided by banks and financial institutions (BFIs). According to bankers, 
a huge majority of farmers do not have access to agro loans as the BFIs are yet to penetrate the rural areas. The process of sanctioning loans to farmers is not hassle-free even where the BFIs are present, as revealed by the National Agriculture Census Report 2011/12.',
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	(int) 6 => array(
		'Article' => array(
			'id' => '2322',
			'article_category_id' => '140',
			'title' => 'Nepal-India Cooperation In Hydropower For Mutual Benefit: Indian Envoy',
			'sub_title' => '',
			'summary' => null,
			'content' => '<div>
	&nbsp;</div>
<div>
	<strong>--By TC Correspondent</strong></div>
<div>
	&nbsp;</div>
<div>
	Indian Ambassador to Nepal Ranjit Rae has said that Nepal and India should work together for the development of hydropower in Nepal. Speaking at a press conference for the first time after assuming office in November, the Indian envoy said such cooperation between Nepal and India would benefit both countries.</div>
<div>
	&nbsp;</div>
<div>
	&ldquo;It is important for Nepal to develop hydropower and Nepal should work with India,&rdquo; Ambassador Rae said, adding that he was &ldquo;very optimistic and confident&rdquo; that Nepal would move ahead in that direction.</div>
<div>
	&nbsp;</div>
<div>
	&ldquo;For mutual benefit, it is necessary too,&rdquo; he said.&nbsp;</div>
<div>
	&nbsp;</div>
<div>
	In another context, the Indian envoy said India was willing to inject more investment in Nepal and hoped that Nepal will have peace and stability following the Nov 19 Constituent Assembly elections. &ldquo;Soon there will be a new government and certainly we will bring new dynamism in bilateral relations,&rdquo; Rae said.</div>
<div>
	&nbsp;</div>
<div>
	The Indian Embassy had organized the press conference to inform the media about the Indo-Nepal Inter-Governmental Committee (IGC) meet and the India Investrade held on Dec 20-22. &nbsp;&nbsp;</div>
<div>
	&nbsp;</div>
<div>
	&ldquo;The IGC used to work as a traditional regulatory body for bilateral trade and transit issues, but it should now develop a forum to promote bilateral trade,&rdquo; he said.</div>
<div>
	&nbsp;</div>
<div>
	He said the existing framework of the IGC should be expanded, private-public partnership should be promoted and private sectors from both countries should provide feedback to the IGC that will help in decision-making and also work out to bring investment in diverse fields.</div>
<div>
	&nbsp;</div>
<div>
	&ldquo;We need to develop a mechanism to incorporate the private sector where the government mechanism can address concerns put forth by the private players,&rdquo; he said.</div>
<div>
	&nbsp;</div>
<div>
	He expressed concern over the low foreign direct investment (FDI) from India, which is around Rs.40.60 billion at a time when many Indian companies are buying properties and making their fortunes across the globe.</div>
<div>
	&nbsp;</div>
<div>
	&ldquo;There are lots of issues from both sides which need to be discussed... It may be political reasons or may be policy ones or infrastructure,&rdquo; the ambassador said when asked why there was low FDI from India.</div>',
			'published' => true,
			'created' => '2013-12-23',
			'modified' => '2014-01-06',
			'keywords' => 'the corporate weekly from Nepal, nepali corporate events – news – interviews – reviews, nepali corporate focus, nepali corporate status and news, news from nepali corporate industry, corporate happenings – events – news from nepal',
			'description' => 'Indian Ambassador to Nepal Ranjit Rae has said that Nepal and India should work together for the development of hydropower in Nepal. Speaking at a press conference for the first time after assuming office in November, the Indian envoy said such cooperation between Nepal and India would benefit both countries.',
			'sortorder' => '2196',
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	(int) 7 => array(
		'Article' => array(
			'id' => '2324',
			'article_category_id' => '140',
			'title' => 'Weekly Round Up (22 - 28 December 2013)',
			'sub_title' => '',
			'summary' => null,
			'content' => '<div>
	&bull;Nearly Rs 4.84 billion has been spent to hold the second Constituent Assembly election, according to the Election Commission (EC). Organising a press meet on Dec 16, EC Spokesperson Bir Bahadur Rai said that figure was based on a preliminary report. The final details of poll expenditure &nbsp;will be made public after the offices of the Election Officers and District Election Offices send the expenses details. The EC said that a total of Rs 4.75 billion was received under basket fund through the Nepal Peace Trust Fund. Different foreign governments had pledged Rs 3 billion for the CA elections.</div>
<div>
	&nbsp;</div>
<div>
	&bull;<span class="Apple-tab-span" style="white-space:pre"> </span>A team of French investors will be visiting Nepal over the next two months. French ambassador to Nepal, Martine BASSEREAU, during a meeting with Finance Minister Shankar Prasad Koirala on Dec 16, said that the French government will soon begin a study on the operation of cable car in the Kathmandu Valley. He also urged the Nepal government to extend all kinds of cooperation to the French investors, adding that the French government is interested in urban development in Nepal.</div>
<div>
	&nbsp;</div>
<div>
	&bull;<span class="Apple-tab-span" style="white-space:pre"> </span>The government has spent about Rs 120 billion in the first five months of the current fiscal year. This is Rs 38.42 billion more than the capital expenditure made in the same period of the previous fiscal year, according to Bhoomiram Sharma, joint spokesperson for the Ministry of Finance. The government has spent 23 per cent of the total annual budget in the first five months of the current fiscal year, Sharma added.</div>
<div>
	&nbsp;</div>
<div>
	&bull;<span class="Apple-tab-span" style="white-space:pre"> </span>The government is preparing to bring the national budget for fiscal year 2014/15 in the first Nepal month of Baisakh (mid April to mid May). In a budget review organized at the Ministry of Finance (MoF) on Dec 18, Finance Secretary Shanta Raj Subedi also said that the government is also planning to fix the budgetary ceiling for three years. Presently, the National Planning Commission fixes the budget ceiling on an annual basis.</div>
<div>
	&nbsp;</div>
<div>
	&bull;<span class="Apple-tab-span" style="white-space:pre"> </span>Indian Chamber of Commerce (ICC) organized a three-day Exposition and Buyer Seller Meet from 20-22 December at Bhrikuti Mandap. About 60 Indian companies representing electrical equipment and energy sector participated in the event. &nbsp;</div>
<div>
	<span class="Apple-tab-span" style="white-space:pre"> </span>The International Labour Organisation (ILO) and the European Union (EU) are going to launch a new project aimed at promoting the management of labour migration from India, Nepal and Pakistan to the Gulf Cooperation Council (GCC) nations. The project-which has a total budget of about 2.4 million euros will run until May 2016, according to a press release jointly issued by ILO and EU. The new project titled &ldquo;Promoting Effective Governance of Labour Migration from South Asia&rdquo; will contribute to ensure effective protection of the rights of vulnerable migrant workers, enhance the development impact of labour migration and reduce unregulated migration.</div>
<div>
	&nbsp;</div>
<div>
	&bull;<span class="Apple-tab-span" style="white-space:pre"> </span>The Confederation of Nepalese Industries (CNI) organized a workshop under the project &ldquo;Go International Project&rdquo; with support from the European Union (EU) on December 18 in Kathmandu. Inaugurating the programme, Madhav Prasad Regmi, Secretary at the Ministry of Commerce and Supplies (MoCS), appreciated the effort of CNI in implementation of the project which is aimed at the internationalization of Nepalese products. He also expressed his sincere appreciation to EU for their support in trade sector development in Nepal. Delivering his welcome speech, CNI President Narendra Kumar Basnyat emphasized the current scenario of the Nepali economy and trade and expressed his hope that the new government to be formed would work towards economic liberalization, export promotion and &nbsp; creation of favourable investment atmosphere in country. Similarly, Maria Castaldi, Representative of the EU Delegation expressed satisfaction and happiness to support the project &ldquo;Go International&rdquo; and appreciated CNI for leading the project.</div>',
			'published' => true,
			'created' => '2013-12-23',
			'modified' => '2013-12-23',
			'keywords' => 'the corporate weekly from Nepal, nepali corporate events – news – interviews – reviews, nepali corporate focus, nepali corporate status and news, news from nepali corporate industry, corporate happenings – events – news from nepal',
			'description' => 'Nearly Rs 4.84 billion has been spent to hold the second Constituent Assembly election, according to the Election Commission (EC). Organising a press meet on Dec 16, EC Spokesperson Bir Bahadur Rai said that figure was based on a preliminary report. The final details of poll expenditure  will be made public after the offices of the Election Officers and District Election Offices send the expenses details.',
			'sortorder' => '2170',
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	(int) 8 => array(
		'Article' => array(
			'id' => '2323',
			'article_category_id' => '140',
			'title' => 'SAARC Should Pressure Gulf Countries To Treat Workers Better',
			'sub_title' => '',
			'summary' => null,
			'content' => '<div>
	&nbsp;</div>
<div>
	<strong>--By TC Correspondent</strong></div>
<div>
	&nbsp;</div>
<div>
	Member states of the South Asian Association for Regional Cooperation (SAARC) should use their collective bargaining power to seek greater protection for their nationals working in the Gulf countries, a US-based rights group said on December 19 which is celebrated globally as the International Migrants&rsquo; Day.&nbsp;</div>
<div>
	&nbsp;</div>
<div>
	In a letter sent to the Secretary General of SAARC, the Human Rights Watch (HRW) said that a SAARC regional protection initiative could significantly enhance the living and working conditions of workers in low-paid sectors from India, Pakistan, Sri Lanka, Nepal and Bangladesh who routinely face violations of international labour standards and human rights law in the six Gulf states.&nbsp;</div>
<div>
	&nbsp;</div>
<div>
	The six Gulf Cooperation Council (GCC) countries are Kuwait, Oman, Qatar, Saudi Arabia, Bahrain and the United Arab Emirates (UAE).</div>
<div>
	&nbsp;</div>
<div>
	&ldquo;The Gulf countries should recognize the crucial role foreign workers play in their economies and take measures to ensure that their rights are fully respected,&rdquo; the letter reads, &ldquo;South Asian governments should join forces to press for reforms to end the terrible abuses against migrant workers that have gone on for far too long.&rdquo;</div>
<div>
	&nbsp;</div>
<div>
	&ldquo;The deaths of hundreds of South Asian workers in Qatar have shone a spotlight on the appalling living and working conditions of low-wage migrant workers in the construction sector. However, abuses in many sectors persist in Bahrain, Kuwait, Saudi Arabia, Oman and the UAE.&rdquo; Migrant workers in these countries typically have their passports confiscated and are forced to work under the highly exploitative kafala system of sponsorship-based employment, which prevents them from leaving employers. SAARC should urge GCC countries to respect non-discrimination and equal treatment of migrant workers and their right to join trade unions and bargain collectively, HRW said.</div>',
			'published' => true,
			'created' => '2013-12-23',
			'modified' => '2013-12-31',
			'keywords' => 'the corporate weekly from Nepal, nepali corporate events – news – interviews – reviews, nepali corporate focus, nepali corporate status and news, news from nepali corporate industry, corporate happenings – events – news from nepal',
			'description' => 'Member states of the South Asian Association for Regional Cooperation (SAARC) should use their collective bargaining power to seek greater protection for their nationals working in the Gulf countries, a US-based rights group said on December 19 which is celebrated globally as the International Migrants’ Day.',
			'sortorder' => '2166',
			'image' => null,
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	(int) 9 => array(
		'Article' => array(
			'id' => '2278',
			'article_category_id' => '140',
			'title' => 'Weekly Round Up (9 - 15 December 2013)',
			'sub_title' => '',
			'summary' => null,
			'content' => '<div>
	&bull;Switzerland has agreed to provide a financial assistance of Rs 1.09 billion to Nepal for the implementation of the second phase of the Local Governance and Community Development Program (LGCDP II). Finance Secretary Shanta Raj Subedi and Swiss Ambassador to Nepal, Urs Herren, signed an agreement to this effect on behalf of their respective governments amid a function in the Capital on December 11.The program will be implemented by the Ministry of Federal Affairs and Local Development for two years from July 16, 2013 to July 15, 2017, according to a press statement issued by the Ministry of Finance (MoF). The total cost of LGCDP II is US$ 1362 million out of which US$ 236 Million will be provided by Nepal&rsquo;s development partners including Switzerland.LGCDP II aims to improve local governance for effective service delivery, local development and citizen empowerment through investment in sectors such as Local Government Restructuring, Federal Governance, Fiscal Decentralization, Fiduciary Risk Reduction, Result Based Management, Capacity Development, Social Mobilization, Child Friendly Local Governance, Gender Equality and Social Inclusion, and Livelihood Improvement Schemes. The project covers all the 75 districts, 58 Municipalities and 3,915 Village Development Committees, according to the MoF.</div>
<div>
	&nbsp;</div>
<div>
	&bull;The government will be holding the second round of talks with the Saudi Fund for investment in the 20 MW Budhiganga Hydropower Project. A government team comprising representatives from the finance, energy and law ministries and the Department of Electricity Development (DoED) will head for Saudi Arabia in the third week of December to hold the talks, according to a source at DoED. &ldquo;The Saudi Fund has shown interest to invest in the Budhiganga Project. It has already agreed to provide a soft loan of around USD 20 million and has already forwarded a draft proposal for the same. We will be discussing the same proposal,&rdquo; the source explained. The first round of talks between the two sides was held in Kathmandu a few months back. The source further added that a team of the Saudi Fund will come to Kathmandu &ldquo;soon after&rdquo; the second round of talks to hold the third round of talks. &ldquo;We are supposed to sign the loan agreement during the third round of talks,&rdquo; said the source.</div>
<div>
	&nbsp;</div>
<div>
	&bull;The Commission for the Investigation of Abuse of Authority (CIAA) has collected Rs 49.5 million in fines from those found guilty of corruption and abuse of authority, according the latest annual report of the commission. Chief Commissioner Lokman Singh Karki presented the Commission&rsquo;s 2012/13 report to President Dr Yadav at a function held at the Rastrapati Bhawan on December 9. The report says that the CIAA had received 11,298 complaints in the year, of which 6,672 were resolved. Over 440 cases were registered in the regional administration offices, of which 145 were resolved. The CIAA filed 96 cases, including 16 that carried over from the previous fiscal year, at the Special Court. The Commission won 76 of these cases. In this year&rsquo;s Corruption Perception Index published by Transparency International, Nepal has climbed to the 116th position from 139th in the previous year.</div>
<div>
	&nbsp;</div>
<div>
	&bull;The government on Dec 12 decided to provide a loan of Rs 1.65 billion to the Nepal Oil Corporation (NOC). The Employees&rsquo; Provident Fund (EPF) will provide Rs. 850 million and the Citizens&rsquo; Investment Trust will provide Rs. 800 million, according to Minister for Information and Communications and government spokesperson, Madhav Prasad Poudel. The Government of Nepal will stand guarantee for the loan, Poudel added. The Cabinet meeting also decided to give a green signal to the Ministry of Urban Development to move ahead with the ongoing negotiations with the Asian Development Bank for signing an agreement for a financial aid worth Rs. 2.42 billion for the Melamchi Drinking Water Supply Project.</div>
<div>
	&nbsp;</div>
<div>
	&bull;In the fourth month (Kartik) of the current fiscal year, the year-on-year change in consumer inflation has reached 10 percent, says the latest monthly regular report from Nepal Rastra Bank (NRB). This is 0.5 per cent less than the consumer inflation for the same period of the last fiscal year. The NRB has set the target of keeping the average inflation rate within 8 percent in the current fiscal year. The inflation rate which remained in single digit for three consecutive months of the current fiscal year reached double digit (10 per cent) in the fourth month. According to experts, this is because of excess money supply to the banks for various reasons.</div>',
			'published' => true,
			'created' => '2013-12-17',
			'modified' => '2013-12-17',
			'keywords' => 'the corporate weekly from Nepal, nepali corporate events – news – interviews – reviews, nepali corporate focus, nepali corporate status and news, news from nepali corporate industry, corporate happenings – events – news from nepal',
			'description' => 'Switzerland has agreed to provide a financial assistance of Rs 1.09 billion to Nepal for the implementation of the second phase of the Local Governance and Community Development Program (LGCDP II). Finance Secretary Shanta Raj Subedi and Swiss Ambassador to Nepal, Urs Herren, signed an agreement to this effect on behalf of their respective governments amid a function in the Capital on December 11.',
			'sortorder' => '2126',
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	(int) 10 => array(
		'Article' => array(
			'id' => '2276',
			'article_category_id' => '140',
			'title' => 'Focus On Budget Implementation: FM',
			'sub_title' => '',
			'summary' => null,
			'content' => '<div>
	&nbsp;</div>
<div>
	<strong>--By TC Correspondent</strong></div>
<div>
	&nbsp;</div>
<div>
	Finance Minister Shanker Prasad Koirala has stressed on the need for the implementation of programmes included in the country&rsquo;s annual budget. Speaking at the quarterly review meeting of development projects held on December 12 at the Ministry of Finance, Koirala urged all stakeholders to coordinate with the concerned agency if any problem emerged in development projects prioritised in the national budget. He also said that the programmes included in the budget were the state&rsquo;s commitment.</div>
<div>
	&nbsp;</div>
<div>
	&ldquo;Everything included in the country&rsquo;s annual budget is the state&rsquo;s commitment,&rdquo; he said urging the officials to expedite the development projects that were stalled due to the CA election and festivals. The Comptroller General and top officials of government ministries and departments were present in the review meeting.</div>
<div>
	&nbsp;</div>
<div>
	The finance minister directed the officials present in the meeting to work in coordination with the Nepal Rastra Bank (NRB) by attaching high priority to livestock and crops insurance, micro credit and cold storage programmes. He directed the officials not to fulfill formality by only seeking the progress reports of the development projects. &nbsp;</div>
<div>
	&nbsp;</div>
<div>
	&ldquo;Please expedite the works of the development projects that were stalled due to the festivals and election. I am always there to support you,&rdquo; he assured.</div>
<div>
	&nbsp;</div>
<div>
	Speaking at the meeting, vice-chairperson of the National Planning Commission (NPC) Rabindra Kumar Shakya asked the implementing agencies to end the culture of zero progress of the development programmes. He urged them to present clear reasons for the emergence of such situation. He asked them not to cite the same problem time and again but to explore the reasons behind the malpractice.</div>
<div>
	&nbsp;</div>
<div>
	Similarly, NRB Governor Dr Yubaraj Khatiwada pointed out the need for investment for the commercialization of agriculture in the country. Speaking at the meeting, Finance Secretary Shanta Raj Subedi said that the development expenditure made during the first quarter of the current fiscal year was not satisfactory. He expressed dissatisfaction over the ineffective performance of regulatory bodies such as central bank, securities board and the Insurance Board. Likewise, Finance Comptroller Suman Sharma stressed on the need for effective internal audit for maintaining fiscal discipline.</div>',
			'published' => true,
			'created' => '2013-12-17',
			'modified' => '2013-12-17',
			'keywords' => 'the corporate weekly from Nepal, nepali corporate events – news – interviews – reviews, nepali corporate focus, nepali corporate status and news, news from nepali corporate industry, corporate happenings – events – news from nepal',
			'description' => 'Finance Minister Shanker Prasad Koirala has stressed on the need for the implementation of programmes included in the country’s annual budget. Speaking at the quarterly review meeting of development projects held on December 12 at the Ministry of Finance, Koirala urged all stakeholders to coordinate with the concerned agency if any problem emerged in development projects prioritised in the national budget. He also said that the programmes included in the budget were the state’s commitment.',
			'sortorder' => '2121',
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	(int) 11 => array(
		'Article' => array(
			'id' => '2277',
			'article_category_id' => '140',
			'title' => 'Samriddhi Felicitates Entrepreneurs',
			'sub_title' => '',
			'summary' => null,
			'content' => '<div>
	&nbsp;</div>
<div>
	<strong>--By TC Correspondent</strong></div>
<div>
	&nbsp;</div>
<div>
	Samriddhi, the Prosperity Foundation, felicitated eight young entrepreneurs for their outstanding achievements amidst a special function organised in the capital last Thursday (December 12). The felicitation programme which followed a series of other events including seminars and interactions between successful and budding entrepreneurs was the final event to celebrate the Global Entrepreneurship Week (GEW) 2013.</div>
<div>
	&nbsp;</div>
<div>
	&ldquo;The final event is the one that recognizes the efforts and success stories of prominent and upcoming entrepreneurs from different sectors,&rdquo; said a press statement from Samriddhi, &ldquo;These entrepreneurs are thus recognized for creating wealth, jobs and better goods and services that make the lives of hundreds and thousands easier.&rdquo;</div>
<div>
	&nbsp;</div>
<div>
	Samriddhi has been celebrating GEW, which is celebrated globally from November 17 to 23, since 2010. &ldquo;However, given the second Constituent Assembly elections on November 19, the celebrations of GEW in Nepal took place eight days later,&rdquo; the statement said.</div>
<div>
	&nbsp;</div>
<div>
	Renowned social entrepreneur Anil Chitrakar was the key-note speaker of the programme which was moderated by Ranjit Acharya, CEO of Prisma Advertising. &nbsp;&nbsp;</div>
<div>
	&nbsp;</div>
<div>
	<span style="font-size:14px;"><strong>List of the felicitated entrepreneurs</strong></span></div>
<div>
	1.Anil Keshari Shah &ndash; CEO, Mega Bank</div>
<div>
	2.<span class="Apple-tab-span" style="white-space:pre"> </span>Bhubaneshwor Phaiiju &ndash; Proprietor, Tranquility Spa</div>
<div>
	3.<span class="Apple-tab-span" style="white-space:pre"> </span>Bir Bahadur Ghale &ndash; Ashoka Fellow, Microhydro Entrepreneur</div>
<div>
	4.<span class="Apple-tab-span" style="white-space:pre"> </span>Chetan Bhandari &ndash; Chairman, Bajeko Sekuwa</div>
<div>
	5.<span class="Apple-tab-span" style="white-space:pre"> </span>Deependra Tandon &ndash; Director, Advantage Group</div>
<div>
	6.<span class="Apple-tab-span" style="white-space:pre"> </span>Khadananda Shiwakoti &ndash; Owner, Siwakoti Bags</div>
<div>
	7.<span class="Apple-tab-span" style="white-space:pre"> </span>Swapnil Acharya &ndash; Director, Expressive Studios</div>
<div>
	8.<span class="Apple-tab-span" style="white-space:pre"> </span>Ujjwal Chapagain &ndash; Managing Director, The Himalayan Rabbit Farm &nbsp;&nbsp;</div>',
			'published' => true,
			'created' => '2013-12-17',
			'modified' => '2013-12-17',
			'keywords' => 'the corporate weekly from Nepal, nepali corporate events – news – interviews – reviews, nepali corporate focus, nepali corporate status and news, news from nepali corporate industry, corporate happenings – events – news from nepal',
			'description' => 'Samriddhi, the Prosperity Foundation, felicitated eight young entrepreneurs for their outstanding achievements amidst a special function organised in the capital last Thursday (December 12). The felicitation programme which followed a series of other events including seminars and interactions between successful and budding entrepreneurs was the final event to celebrate the Global Entrepreneurship Week (GEW) 2013.',
			'sortorder' => '2120',
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	(int) 12 => array(
		'Article' => array(
			'id' => '2237',
			'article_category_id' => '140',
			'title' => 'Nepal Political News In Brief (9 - 15 December 2013)',
			'sub_title' => '',
			'summary' => null,
			'content' => '<div>
	<span style="font-size:14px;"><strong>Singh Sings Consensus Tune</strong></span></div>
<div>
	Nepali Congress general secretary Prakashman Singh said drafting a new constitution on the basis of consensus was the need of the hour. Speaking at a programme in capital last Saturday, newly-elected Constituent Assembly (CA) member Singh said his party would take initiative for drafting a new constitution by taking all the political parties represented there into confidence. The matters of government formation and about the President cropped up in the present should be seriously dealt with as they could fuel people&rsquo;s frustrations, he said. Underlining the need of ending long-standing political transition as soon as possible, leader Singh assured of understanding between the Congress and CPN (UML) to settle the contentious issues.</div>
<div>
	&nbsp;</div>
<div>
	<span style="font-size:14px;"><strong>Secy Baskota Monitors Road Expansion Works</strong></span></div>
<div>
	Secretary at the Office of the Prime Minister and Council of Ministers, Krishna Hari Baskota, has directed the concerned sectors to expedite the works under the road expansion campaign in the Kathmandu Valley. Secretary Baskota, who is also the coordinator of road expansion high level monitoring committee, monitored the expansion works and directed the concerned sectors to complete the road expansion very quickly.&rdquo;If the contractors are lackadaisical, they must be made aware of it, and if it does not work, the contract can be scrapped,&rdquo; he warned the contractors.&nbsp;</div>
<div>
	&nbsp;</div>
<div>
	<span style="font-size:14px;"><strong>Gajurel&rsquo;s Nay to Unity with UCPN (Maoist)</strong></span></div>
<div>
	CPN-Maoist vice-chairman CP Gajurel has said there was no possibility of party&rsquo;s unification with the UCPN-Maoist. &ldquo;There was no meaning in forging alliance with the UCPN-Maoist, from which we walked away last year,&rdquo; he said, adding that the UCPN-Maoist was an opportunist party. Speaking at an interaction programme organised in capital last Saturday, Vice-Chairman Gajurel &nbsp;accused the leaders of the UCPN (Maoist) of harbouring opportunistic character. However, he said if it agreed in roundtable conference, the CPN-Maoist would talk of unity with this party.</div>
<div>
	&nbsp;</div>
<div>
	<span style="font-size:14px;"><strong>Gachhadar Bats for Congress-led Govt</strong></span></div>
<div>
	Madhesi Janadhikar Forum- Democratic chairman Bijay Kumar Gachhadar has said that his party would support the government under the leadership of Nepali Congress (NC). During the meeting with NC president Sushil Koirala held at his residence in Maharajgunj last Friday, Gachchhadar said that his party was committed to democracy and would support the government under the NC-led government. During the meeting the two leaders discussed about forging political consensus to form the government, to call the first meeting of the Constituent Assembly (CA) and Legislature-Parliament, and constitution writing among other contemporary issues.&nbsp;</div>
<div>
	&nbsp;</div>
<div>
	<span style="font-size:14px;"><strong>CA Court Summons Dahal</strong></span></div>
<div>
	Constituent Assembly court issued an order last Friday summoning UCPN (Maoist) chairman Pushpa Kamal Dahal, winner from &nbsp;Siraha constituency no. 5, to appear in the court within 10 days. A divisional bench of CA Court Chairperson Kalyan Shrestha and member duo, Girish Chandra Lal and Sushila Karki issued the directive to UCPN (Maoist) Chairperson Dahal and election officer of Siraha constituency no. 5 Uddhav Bhattarai, among others. CPN-UML candidate from the constituency Leelanath Shrestha had demanded re-polling alleging election rigging by the cadres of Chairperson Dahal.</div>',
			'published' => true,
			'created' => '2013-12-09',
			'modified' => '2013-12-09',
			'keywords' => 'the corporate weekly from Nepal, nepali corporate events – news – interviews – reviews, nepali corporate focus, nepali corporate status and news, news from nepali corporate industry, corporate happenings – events – news from nepal',
			'description' => 'Nepali Congress general secretary Prakashman Singh said drafting a new constitution on the basis of consensus was the need of the hour.',
			'sortorder' => '2079',
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	(int) 13 => array(
		'Article' => array(
			'id' => '2236',
			'article_category_id' => '140',
			'title' => 'Weekly Round Up (2 - 8 December 2013)',
			'sub_title' => '',
			'summary' => null,
			'content' => '<div>
	&bull;The European Union (EU) imposed a blanket ban on all airlines from Nepal last Thursday from flying into the 28-nation bloc under the latest changes to its list of unsafe carriers. The European Commission updated for the 22nd time the European list of airlines subject to an operating ban or operational restrictions within the EU, better known as &ldquo;the EU air safety list.&rdquo; &nbsp;&ldquo;On the basis of safety information from various sources and a hearing both with Nepalis aviation authorities as well as with a number of Nepalese carriers, the Commission decided to put all airlines from Nepal on the EU air safety list,&rdquo; the EU said. As a consequence of the ban on Nepalis carriers, they are prevented from flying into or within the Union. This ban is not only a major setback to Nepal&rsquo;s tourism industry, but to the country as a whole. Although none of the Nepali carriers make flight to the 28-nation bloc, the consequences could be seen in the tourism and economy from the travel alert on European travellers to not use Nepali carriers. &nbsp;</div>
<div>
	&nbsp;</div>
<div>
	&nbsp;</div>
<div>
	&bull;Ninth WTO Ministerial Conference has concluded at Bali adopting a five-draft decision declaration and the 10-document full Bali Package that addresses the Doha Development Agenda. The last-minute deal would lower trade barriers and speed up the passage of goods through customs. Analysts estimate that over time it could boost the world economy by hundreds of billions of dollars and create more than 20 million jobs, mostly in developing countries. As a coordinator of the Consultative Group of the LDCs at the ongoing WTO conference in Bali, Indonesia, Nepal has raised its voice to demand a larger space in international trade for LDCs. Also, with the country itself facing barriers aplenty in international trade and a skyrocketing trade deficit, Nepal tried voice its concerns on existing multi-lateral and bilateral trade issues. Though developed countries have pledged Duty-Free-Quota-Free (DFQF) market access to 97 percent of the goods originating from LDCs as per Hong Kong Ministerial Conference in 2005, only around 80- 91 percent of the goods are enjoying such facility. Nepal has been getting this facility for 81 percent of its exports &nbsp;to developed countires while some other African LDCs have been enjoying this for 91 percent of their total exports to developed countries under the DFQF.&nbsp;</div>
<div>
	&nbsp;</div>
<div>
	&bull;The government has collected Rs 94.32 billion revenue in the first quarter of the current fiscal year. The amount is Rs 140 million higher than the target. The government had collected Rs 78.3 billion revenue in the corresponding period of the last fiscal year. The collected revenue is 20.87 per cent higher compared to the amount of the corresponding period of the last fiscal year.&nbsp;</div>
<div>
	&nbsp;</div>
<div>
	&bull;Nepal Electricity Authority (NEA) has begun buying an additional 30 MW of power from India in a bid to ease the chronic power shortage in the country during winter. The Power Trading Corporation of India has sold the power to Nepal at a rate of Rs.3.75 (NRs.6) per unit. The additional power import takes Nepal&rsquo;s total import from India to 165 MW. Nepal has been requesting India to provide at least 250 MW to meet its increasing power deficit. The NEA is aiming to bring down load-shedding to 12 hours this winter by getting more power from India. Currently, there is a shortfall of 350 MW to meet the requirements as existing capacity is just around 700 MW.Measures are being taken to reduce power demand, including operating some multi-fuel plants and revamping existing power plants. Officials say Nepal pays around Rs.22 billion every year for procuring power from India, which includes importing inverters and diesel generators.</div>',
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			'description' => 'The European Union (EU) imposed a blanket ban on all airlines from Nepal last Thursday from flying into the 28-nation bloc under the latest changes to its list of unsafe carriers. The European Commission updated for the 22nd time the European list of airlines subject to an operating ban or operational restrictions within the EU, better known as “the EU air safety list.”',
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			'id' => '2235',
			'article_category_id' => '140',
			'title' => 'NC, UML Sign Three-point Deal',
			'sub_title' => '',
			'summary' => null,
			'content' => '<div>
	Nepali Congress (NC) and CPN (UML) have signed a three-point pact last Saturday. The two parties have agreed to move ahead together with mutual understanding and collaboration to complete the political responsibility.&nbsp;</div>
<div>
	&nbsp;</div>
<div>
	They have also reached an understanding to immediately hold dialogue with UCPN (Maoist) as well as its breakaway faction of the CPN-Maoist.&nbsp;</div>
<div>
	&nbsp;</div>
<div>
	NC President Sushil Koirala and UML Chairperson Jhalanath Khanal signed the three-point deal that includes a commitment to move ahead together on mutual understanding. The leaders of the two parties have agreed on an agreement following a hectic dialogue at Peace Fund Secretariat in Babarmahal, Kathmandu.</div>
<div>
	&nbsp;</div>
<div>
	The two parties also expressed thanks to all sides concerned for the successful holding of free, fair and impartial CA election on November 19.</div>',
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			'description' => 'Nepali Congress (NC) and CPN (UML) have signed a three-point pact last Saturday. The two parties have agreed to move ahead together with mutual understanding and collaboration to complete the political responsibility.',
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		'Article' => array(
			'id' => '2413',
			'article_category_id' => '140',
			'title' => '36 Entrepreneurs, Firms To Be Recognized With CIP Honour',
			'sub_title' => '',
			'summary' => null,
			'content' => '<div>
	<strong>--By TC Correspondent</strong></div>
<div>
	&nbsp;</div>
<div>
	The government will soon be honouring three dozen entrepreneurs and business persons as Commercially Important Person (CIP) for their contribution to the economy and commercial sector. A meeting of the Technical Committee of the Trade and Export Promotion Centre (TEPC) on January 1 decided to recommend the names of 36 exporters, importers, investors, employers and entrepreneurs to the Ministry of Commerce and Supplies (MoCS) in order to recognize them with the CIP hounour within the month of January. According to TEPC Executive Director Ishwari Prasad Ghimire, a minister level decision will be taken at the earliest possible to honour the industrialists and entrepreneurs.</div>
<div>
	&nbsp;</div>
<div>
	According to the Guidelines for the CIP honour, entrepreneurs and companies with controversial background will not be awarded with the honour. It is because of this provision that the list of the entrepreneurs and firms to be hounoured was pending at the In-land Revenue Department (IRD|) for a long time for investigation. &ldquo;That&rsquo;s why it took a long time to finalise the list,&rdquo; a source said. Now the IRD has given its go-ahead, it is learnt. There are eight categories of the entrepreneurs and companies to be awarded the CIP honour - 13 Nepali exporters, nine foreign importers of Nepali goods, eight business chambers and commodities associations, two from the tourism sector, one highest taxpayer, one highest employment creator, one highest investor in manufacturing sector, and one from the remittance sector. Those awarded with the CIP honour will get high priority to meet the Prime Minister and ministers. Similarly they will get VIP privileges at the Tribhuvan International Airport. Foreigners who will get the award will get on-arrival visas of 15 to 90 days.&nbsp;</div>
<div>
	&nbsp;</div>
<div>
	According to the provisions of the guidelines, the government will not award CIP to any person or business blacklisted by any government authority; blacklisted by Credit Information Bureau as a defaulter of any bank or financial institution; of bad moral and convicted by the court; convicted of corruption and financial irregularities and tax defaulter till the previous year.&nbsp;</div>',
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			'created' => '2014-01-06',
			'modified' => '2014-01-06',
			'keywords' => 'the corporate weekly from Nepal, nepali corporate events – news – interviews – reviews, nepali corporate focus, nepali corporate status and news, news from nepali corporate industry, corporate happenings – events – news from nepal',
			'description' => 'The government will soon be honouring three dozen entrepreneurs and business persons as Commercially Important Person (CIP) for their contribution to the economy and commercial sector. A meeting of the Technical Committee of the Trade and Export Promotion Centre (TEPC) on January 1 decided to recommend the names of 36 exporters, importers, investors, employers and entrepreneurs to the Ministry of Commerce and Supplies (MoCS) in order to recognize them with the CIP hounour within the month of January.',
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			'id' => '2366',
			'article_category_id' => '140',
			'title' => 'Online Building Permit From Mid-January',
			'sub_title' => '',
			'summary' => null,
			'content' => '<div>
	<strong>--By TC Correspondent</strong></div>
<div>
	&nbsp;</div>
<div>
	The government is preparing to implement online building permit from mid-January, 2014. According to Suresh Prakash Acharya, spokesperson for the Ministry of Urban Development (MoUD), the decision to implement online permit will minimize the hassles seen in the landownership registration process. &ldquo;At present the land registration process takes nearly six months,&rdquo; he said, &ldquo;after the online system is implemented, it will take just about 15 days.&rdquo;</div>
<div>
	&nbsp;</div>
<div>
	He added that the online permit system will take away the trouble of visiting the land registration office. The government has already implemented the online permit system in certain wards of the Kathmandu Metropolis and Lalitpur Sub-metropolis.</div>
<div>
	&nbsp;</div>
<div>
	Secretary at the MoUD, Kishore Thapa, told The Corporate that the online permit system will be gradually implemented across the country once it becomes successful in the Kathmandu Valley. The Kathmandu Metropolis has implemented this project as a pilot project in certain wards. As all wards of Kathmandu Metropolis are connected with the Internet, officials at the MoUD hope that the project will be successful.</div>
<div>
	&nbsp;</div>
<div>
	&ldquo;All [municipal and VDC] wards should be connected with electricity and Internet,&rdquo; Thapa said, &ldquo;Online building permit system can be implemented if all places are connected with electricity and Internet.&rdquo;</div>
<div>
	&nbsp;</div>
<div>
	Once there is an agreement between the seller and buyer of a piece of land, an electronic copy of the map of the land will be sent to the concerned government office through online. Then the land will be registered in the name of the buyer. One the service seekers bring their file to the concerned government office, they can monitor the land registration process online.</div>',
			'published' => true,
			'created' => '2013-12-31',
			'modified' => '2013-12-31',
			'keywords' => 'the corporate weekly from Nepal, nepali corporate events – news – interviews – reviews, nepali corporate focus, nepali corporate status and news, news from nepali corporate industry, corporate happenings – events – news from nepal',
			'description' => 'The government is preparing to implement online building permit from mid-January, 2014. According to Suresh Prakash Acharya, spokesperson for the Ministry of Urban Development (MoUD), the decision to implement online permit will minimize the hassles seen in the landownership registration process. “At present the land registration process takes nearly six months,” he said, “after the online system is implemented, it will take just about 15 days.”',
			'sortorder' => '2213',
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			'id' => '2369',
			'article_category_id' => '140',
			'title' => 'Nepal Political Economic News In Brief (30 December - 5 January 2013)',
			'sub_title' => '',
			'summary' => null,
			'content' => '<div>
	<span style="font-size:14px;"><strong>HLPC Formalizes Four-point Deal</strong></span></div>
<div>
	A meeting of the High Level Political Committee (HLPC) on December 24 has formalised the four-point agreement reached by the top three parties. The meeting also decided to request the Election Commission to extend the deadline for submission of Proportional Representation (PR) names for the Constituent Assembly by five more days. Eight parties, including the Nepali Congress, CPN-UML, UCPN-M and Madhesh-based parties have signed the deal, paving the way for the formation of the Constituent Assembly. The four agreements are: Formation of a parliamentary panel to investigate the alleged vote-rigging during the Nov 19 CA polls; continuation of the HLPC by including top leaders of other parties present in the CA; Promulgate the new Constitution within a year; and form a Truth and Reconciliation Commission to conclude the peace process.</div>
<div>
	&nbsp;</div>
<div>
	<span style="font-size:14px;"><strong>18 Parties Agree to Join CA</strong></span></div>
<div>
	Eighteen political parties including the UCPN (Maoist) have decided to join the newly elected Constituent Assembly (CA) after the three major parties &ndash; Nepali Congress (NC), CPN (UML) AND UCPN (Maoist) reached a four-point deal on December 24. A meeting of 18 political parties held at the UCPN (M) headquarters at Parisdanda agreed to participate in the CA arguing that the NC and UML had accepted their demands. Talking to media persons after the meeting, UCPN(Maoist) Spokesperson Agni Prasad Sapkota said they decided to be a part of the new CA after the NC and UML agreed to address their demands.&nbsp;</div>
<div>
	&nbsp;</div>
<div>
	<span style="font-size:14px;"><strong>PR List Submission Deadline Extended by Five Days&nbsp;</strong></span></div>
<div>
	The Election Commission (EC) on December 25 extended the deadline for submission of names of winning candidates under the proportional representation (PR) system by five more days. This is the third deadline extension by the constitutional body upon the request of the political parties. Parties now have to submit their PR lists by December 30. Top leaders of the major political parties had reached the EC on Dec 23 asking for the deadline extension after signing the four-point agreement.</div>
<div>
	&nbsp;</div>
<div>
	<span style="font-size:14px;"><strong>New Govt and CA Meet Soon: Regmi</strong></span></div>
<div>
	Chairman of the Council of Ministers, Khil Raj Regmi has said that the formation of the Constituent Assembly (CA) and a new government will take place soon. Addressing a programme in the Capital on December 25, Chairman Regmi said that the first session of the CA and the process of forming a new elected government will begin soon. &ldquo;I&rsquo;m confident that the new session of CA will begin soon, so will be the task of forming a new government and promulgating a new constitution,&rdquo; Regmi said. &ldquo;Now we should invest our skills and labor for development, peace and socio-economic transformation of the country,&rdquo; remarked Regmi.</div>
<div>
	&nbsp;</div>
<div>
	<span style="font-size:14px;"><strong>UCPN (Maoist)&rsquo;s Unconditional Support to NC-led Govt</strong></span></div>
<div>
	Former finance minister and leader of the UCPN (Maoist) Barshaman Pun has said that his party will extend unconditional support to the next government to be led by the Nepali Congress. He, however, said that his party will not participate in the new government to be formed. &ldquo;We will play a constructive role of an opposition party inside the Constituent Assembly. We will not engage in the game of changing the government. Our focus will be on promulgating the new constitution within a year,&rdquo; Pun said, speaking at a programme in the Capital on December 25.</div>',
			'published' => true,
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			'modified' => '2014-01-04',
			'keywords' => 'the corporate weekly from Nepal, nepali corporate events – news – interviews – reviews, nepali corporate focus, nepali corporate status and news, news from nepali corporate industry, corporate happenings – events – news from nepal',
			'description' => 'A meeting of the High Level Political Committee (HLPC) on December 24 has formalised the four-point agreement reached by the top three parties. The meeting also decided to request the Election Commission to extend the deadline for submission of Proportional Representation (PR) names for the Constituent Assembly by five more days. Eight parties, including the Nepali Congress, CPN-UML, UCPN-M and Madhesh-based parties have signed the deal, paving the way for the formation of the Constituent Assembly. The four agreements are: Formation of a parliamentary panel to investigate the alleged vote-rigging during the Nov 19 CA polls; continuation of the HLPC by including top leaders of other parties present in the CA; Promulgate the new Constitution within a year; and form a Truth and Reconciliation Commission to conclude the peace process',
			'sortorder' => '2211',
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		'Article' => array(
			'id' => '2368',
			'article_category_id' => '140',
			'title' => 'Weekly Round Up (23 - 29 December 2013)',
			'sub_title' => '',
			'summary' => null,
			'content' => '<div>
	<span style="font-size:14px;"><strong>Gearing Revenue Mobilisation</strong></span></div>
<div>
	Finance Minister Shanker Prasad Koirala has directed revenue administration officials to work efficiently to meet the daily target of Rs 1 billion revenue mobilisation. Speaking at a programme organised by the Big Taxpayers&rsquo; Office on December 23, Koirala urged the officials to be more professional and efficient and meet the revenue target. He also motivated them to fully utilise the time of mid-December to mid-January as this period is the time to collect more revenue in the country. &ldquo;Don&rsquo;t lose your professionalism thinking that the current government will be gone soon. The revenue collection target will be same whoever comes as the finance minister,&rdquo; he said.</div>
<div>
	&nbsp;</div>
<div>
	<span style="font-size:14px;"><strong>WB Funds Agri-Development</strong></span></div>
<div>
	The World Bank (WB) has approved US$ 150 million for two projects designed to help improve connectivity and raise agricultural productivity across 33 districts. The project titled &ldquo;Strengthening the National Rural Transport Programme&rdquo;, which has received USD 100 million intends to enhance the availability and reliability of transport connectivity in 33 districts. They are Arghakhanchi, Banke, Bara, Bardia, Bhojpur, Dang, Dhading, Dhanusha, Gulmi, Kailali, Kanchanpur, Kapilvastu, Kaski, Mahottari, Makwanpur, Nawalparasi, Nuwakot, Palpa, Parsa, Pyuthan, Rasuwa, Rautahat, Rupandehi, Salyan, Sakhuwasabha, Saptari, Sarlahi, Siraha, Surkhet, Syangja, Tanahu, Tehrathum and Udaypur, according to a press statement from the Bank. Similarly, the Irrigation and Water Resources Management Project, which is under implementation since December 2007 has received US$ 50 million. The assistance will help rehabilitate 80 additional farmer-managed irrigation schemes (FMIS) in 40 districts of the Western, Mid-Western and Far-Western Regions of Nepal.</div>
<div>
	&nbsp;</div>
<div>
	<span style="font-size:14px;"><strong>Load-shedding for Half the Day</strong></span></div>
<div>
	Energy Minister Umakanta Jha has said the load-shedding time will not exceed 12 hours a day this winter. Talking to journalists at Bharatpur on December 25, Jha said the country witnessed 15-hour power outage a day last winter. &ldquo;But, this time it will be limited to 12 hours a day,&rdquo; said Minister Jha who had reached there to inspect the Narayani river embankment. He added that the government was preparing to import 200 MW of electricity from India to keep the load-shedding duration below 12 hours a day.</div>
<div>
	&nbsp;</div>
<div>
	<span style="font-size:14px;"><strong>Biratnagar Golchha Office Gutted</strong></span></div>
<div>
	An estimated property worth over Rs. 50 million was destroyed when the Biratnagar office of Golchha Organisation caught fire on December 26. It took firefighters one and a half hours to douse the fire which was detected at around 9 in the morning. According to sources, the fire was caused by a short circuit in the third floor of the building that housed the account section of the office. The fire is said to have destroyed office equipment, furniture and important records of the office. There was human casualty.</div>
<div>
	&nbsp;</div>
<div>
	<span style="font-size:14px;"><strong>Far-west Industrial Trade Fair</strong></span></div>
<div>
	With the aim of promoting industrial and economic development of the Far-western Development Region, a 10-day &lsquo;Far-West Industrial Trade Fair&rsquo; is going to be organized in Mahendranagar from January 10, 2014. The Fair will feature 150 stalls of various products from various districts of Far-West. The Fair is being organised with support from the ministries of agriculture development, commerce and supplies, Bhimduttanagar Municipality and the private sector. The organisers expect over 150,000 visitors and a transaction of over Rs 120 million during the fair.</div>',
			'published' => true,
			'created' => '2013-12-31',
			'modified' => '2013-12-31',
			'keywords' => 'the corporate weekly from Nepal, nepali corporate events – news – interviews – reviews, nepali corporate focus, nepali corporate status and news, news from nepali corporate industry, corporate happenings – events – news from nepal',
			'description' => 'Finance Minister Shanker Prasad Koirala has directed revenue administration officials to work efficiently to meet the daily target of Rs 1 billion revenue mobilisation. Speaking at a programme organised by the Big Taxpayers’ Office on December 23, Koirala urged the officials to be more professional and efficient and meet the revenue target',
			'sortorder' => '2210',
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		'Article' => array(
			'id' => '2367',
			'article_category_id' => '140',
			'title' => '‘Sushil Koirala  To Lead New Govt’',
			'sub_title' => '',
			'summary' => null,
			'content' => '<div>
	<strong>--By TC Correspondent</strong></div>
<div>
	&nbsp;</div>
<div>
	Nepali Congress (NC) Spokesperson Dilendra Prasad Badu has said that the new government will be formed under the leadership of the party&rsquo;s President Sushil Koirala once the Constituent Assembly (CA) gets a full shape.</div>
<div>
	&nbsp;</div>
<div>
	Speaking at an interaction program in Kathmandu on December 27, Badu also made it clear that there was no dispute inside the NC about Koirala leading the new government.</div>
<div>
	&nbsp;</div>
<div>
	&ldquo;We will try to form a consensus government by bringing all major political parties on board. If this does not happen, a majority government will be formed,&rdquo; said Badu.&nbsp;</div>
<div>
	&nbsp;</div>
<div>
	UCPN (Maoist leaders have already said to extend unconditional support to a NC-led government.</div>',
			'published' => true,
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			'keywords' => 'the corporate weekly from Nepal, nepali corporate events – news – interviews – reviews, nepali corporate focus, nepali corporate status and news, news from nepali corporate industry, corporate happenings – events – news from nepal',
			'description' => 'Nepali Congress (NC) Spokesperson Dilendra Prasad Badu has said that the new government will be formed under the leadership of the party’s President Sushil Koirala once the Constituent Assembly (CA) gets a full shape.',
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			'id' => '2365',
			'article_category_id' => '140',
			'title' => '4 Out Of 5 Farmers Lack Access To Loans',
			'sub_title' => '',
			'summary' => null,
			'content' => '<div>
	<strong>--By TC Correspondent</strong></div>
<div>
	&nbsp;</div>
<div>
	Of the total farm households in the country, nearly 79 percent lack access to formal financial services provided by banks and financial institutions (BFIs). According to bankers,&nbsp;</div>
<div>
	a huge majority of farmers do not have access to agro loans as the BFIs are yet to penetrate the rural areas. The process of sanctioning loans to farmers is not hassle-free even where the BFIs are present, as revealed by the National Agriculture Census Report 2011/12.</div>
<div>
	&nbsp;</div>
<div>
	According to the Report, 3,831,093 households in the country own land. Out of them, only 835,921 households (21.81 per cent) have availed agro loans. This means a whopping 2,995,172 households do not have access to bank loans. The Report says that of the total farm households, 42 per cent have said that they need agro loans.</div>
<div>
	&nbsp;</div>
<div>
	President of Nepal Bankers&rsquo; Association and CEO of Citizens Bank International, Rajan Singh Bhandari informed The Corporate that though banks have increased their investment in the agriculture sector, the banks have not been able to take financial services to all farmers. &ldquo;The commercial banks lack the capacity to take financial services to all the farming households in the country,&rdquo; he said.</div>
<div>
	&nbsp;</div>
<div>
	President of Development Bankers Association, Nepal, and CEO of Kaliash Development Bank, Krishna Raj Lamichhane accepts that the agricultural loan flow from the BFIs at present is not enough. &ldquo;We need a special policy to increase farmers&rsquo; access to financial services,&rdquo; says Lamichhane.</div>
<div>
	&nbsp;</div>
<div>
	The latest census shows that of the farmers who have taken loans for agricultural purpose, 34.57 per cent have borrowed from their relatives. Similarly, 16.61 per cent of such farmers have borrowed from the Agricultural Development Bank, 8.67 per cent from the commercial banks, 15.67 per cent from cooperatives, 9.73 per cent from farmers&rsquo; groups, 12.95 per cent from women&rsquo;s groups, and 5.78 per cent have borrowed from &lsquo;others&rsquo;.</div>',
			'published' => true,
			'created' => '2013-12-31',
			'modified' => '2013-12-31',
			'keywords' => 'the corporate weekly from Nepal, nepali corporate events – news – interviews – reviews, nepali corporate focus, nepali corporate status and news, news from nepali corporate industry, corporate happenings – events – news from nepal',
			'description' => 'Of the total farm households in the country, nearly 79 percent lack access to formal financial services provided by banks and financial institutions (BFIs). According to bankers, 
a huge majority of farmers do not have access to agro loans as the BFIs are yet to penetrate the rural areas. The process of sanctioning loans to farmers is not hassle-free even where the BFIs are present, as revealed by the National Agriculture Census Report 2011/12.',
			'sortorder' => '2207',
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	(int) 6 => array(
		'Article' => array(
			'id' => '2322',
			'article_category_id' => '140',
			'title' => 'Nepal-India Cooperation In Hydropower For Mutual Benefit: Indian Envoy',
			'sub_title' => '',
			'summary' => null,
			'content' => '<div>
	&nbsp;</div>
<div>
	<strong>--By TC Correspondent</strong></div>
<div>
	&nbsp;</div>
<div>
	Indian Ambassador to Nepal Ranjit Rae has said that Nepal and India should work together for the development of hydropower in Nepal. Speaking at a press conference for the first time after assuming office in November, the Indian envoy said such cooperation between Nepal and India would benefit both countries.</div>
<div>
	&nbsp;</div>
<div>
	&ldquo;It is important for Nepal to develop hydropower and Nepal should work with India,&rdquo; Ambassador Rae said, adding that he was &ldquo;very optimistic and confident&rdquo; that Nepal would move ahead in that direction.</div>
<div>
	&nbsp;</div>
<div>
	&ldquo;For mutual benefit, it is necessary too,&rdquo; he said.&nbsp;</div>
<div>
	&nbsp;</div>
<div>
	In another context, the Indian envoy said India was willing to inject more investment in Nepal and hoped that Nepal will have peace and stability following the Nov 19 Constituent Assembly elections. &ldquo;Soon there will be a new government and certainly we will bring new dynamism in bilateral relations,&rdquo; Rae said.</div>
<div>
	&nbsp;</div>
<div>
	The Indian Embassy had organized the press conference to inform the media about the Indo-Nepal Inter-Governmental Committee (IGC) meet and the India Investrade held on Dec 20-22. &nbsp;&nbsp;</div>
<div>
	&nbsp;</div>
<div>
	&ldquo;The IGC used to work as a traditional regulatory body for bilateral trade and transit issues, but it should now develop a forum to promote bilateral trade,&rdquo; he said.</div>
<div>
	&nbsp;</div>
<div>
	He said the existing framework of the IGC should be expanded, private-public partnership should be promoted and private sectors from both countries should provide feedback to the IGC that will help in decision-making and also work out to bring investment in diverse fields.</div>
<div>
	&nbsp;</div>
<div>
	&ldquo;We need to develop a mechanism to incorporate the private sector where the government mechanism can address concerns put forth by the private players,&rdquo; he said.</div>
<div>
	&nbsp;</div>
<div>
	He expressed concern over the low foreign direct investment (FDI) from India, which is around Rs.40.60 billion at a time when many Indian companies are buying properties and making their fortunes across the globe.</div>
<div>
	&nbsp;</div>
<div>
	&ldquo;There are lots of issues from both sides which need to be discussed... It may be political reasons or may be policy ones or infrastructure,&rdquo; the ambassador said when asked why there was low FDI from India.</div>',
			'published' => true,
			'created' => '2013-12-23',
			'modified' => '2014-01-06',
			'keywords' => 'the corporate weekly from Nepal, nepali corporate events – news – interviews – reviews, nepali corporate focus, nepali corporate status and news, news from nepali corporate industry, corporate happenings – events – news from nepal',
			'description' => 'Indian Ambassador to Nepal Ranjit Rae has said that Nepal and India should work together for the development of hydropower in Nepal. Speaking at a press conference for the first time after assuming office in November, the Indian envoy said such cooperation between Nepal and India would benefit both countries.',
			'sortorder' => '2196',
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	(int) 7 => array(
		'Article' => array(
			'id' => '2324',
			'article_category_id' => '140',
			'title' => 'Weekly Round Up (22 - 28 December 2013)',
			'sub_title' => '',
			'summary' => null,
			'content' => '<div>
	&bull;Nearly Rs 4.84 billion has been spent to hold the second Constituent Assembly election, according to the Election Commission (EC). Organising a press meet on Dec 16, EC Spokesperson Bir Bahadur Rai said that figure was based on a preliminary report. The final details of poll expenditure &nbsp;will be made public after the offices of the Election Officers and District Election Offices send the expenses details. The EC said that a total of Rs 4.75 billion was received under basket fund through the Nepal Peace Trust Fund. Different foreign governments had pledged Rs 3 billion for the CA elections.</div>
<div>
	&nbsp;</div>
<div>
	&bull;<span class="Apple-tab-span" style="white-space:pre"> </span>A team of French investors will be visiting Nepal over the next two months. French ambassador to Nepal, Martine BASSEREAU, during a meeting with Finance Minister Shankar Prasad Koirala on Dec 16, said that the French government will soon begin a study on the operation of cable car in the Kathmandu Valley. He also urged the Nepal government to extend all kinds of cooperation to the French investors, adding that the French government is interested in urban development in Nepal.</div>
<div>
	&nbsp;</div>
<div>
	&bull;<span class="Apple-tab-span" style="white-space:pre"> </span>The government has spent about Rs 120 billion in the first five months of the current fiscal year. This is Rs 38.42 billion more than the capital expenditure made in the same period of the previous fiscal year, according to Bhoomiram Sharma, joint spokesperson for the Ministry of Finance. The government has spent 23 per cent of the total annual budget in the first five months of the current fiscal year, Sharma added.</div>
<div>
	&nbsp;</div>
<div>
	&bull;<span class="Apple-tab-span" style="white-space:pre"> </span>The government is preparing to bring the national budget for fiscal year 2014/15 in the first Nepal month of Baisakh (mid April to mid May). In a budget review organized at the Ministry of Finance (MoF) on Dec 18, Finance Secretary Shanta Raj Subedi also said that the government is also planning to fix the budgetary ceiling for three years. Presently, the National Planning Commission fixes the budget ceiling on an annual basis.</div>
<div>
	&nbsp;</div>
<div>
	&bull;<span class="Apple-tab-span" style="white-space:pre"> </span>Indian Chamber of Commerce (ICC) organized a three-day Exposition and Buyer Seller Meet from 20-22 December at Bhrikuti Mandap. About 60 Indian companies representing electrical equipment and energy sector participated in the event. &nbsp;</div>
<div>
	<span class="Apple-tab-span" style="white-space:pre"> </span>The International Labour Organisation (ILO) and the European Union (EU) are going to launch a new project aimed at promoting the management of labour migration from India, Nepal and Pakistan to the Gulf Cooperation Council (GCC) nations. The project-which has a total budget of about 2.4 million euros will run until May 2016, according to a press release jointly issued by ILO and EU. The new project titled &ldquo;Promoting Effective Governance of Labour Migration from South Asia&rdquo; will contribute to ensure effective protection of the rights of vulnerable migrant workers, enhance the development impact of labour migration and reduce unregulated migration.</div>
<div>
	&nbsp;</div>
<div>
	&bull;<span class="Apple-tab-span" style="white-space:pre"> </span>The Confederation of Nepalese Industries (CNI) organized a workshop under the project &ldquo;Go International Project&rdquo; with support from the European Union (EU) on December 18 in Kathmandu. Inaugurating the programme, Madhav Prasad Regmi, Secretary at the Ministry of Commerce and Supplies (MoCS), appreciated the effort of CNI in implementation of the project which is aimed at the internationalization of Nepalese products. He also expressed his sincere appreciation to EU for their support in trade sector development in Nepal. Delivering his welcome speech, CNI President Narendra Kumar Basnyat emphasized the current scenario of the Nepali economy and trade and expressed his hope that the new government to be formed would work towards economic liberalization, export promotion and &nbsp; creation of favourable investment atmosphere in country. Similarly, Maria Castaldi, Representative of the EU Delegation expressed satisfaction and happiness to support the project &ldquo;Go International&rdquo; and appreciated CNI for leading the project.</div>',
			'published' => true,
			'created' => '2013-12-23',
			'modified' => '2013-12-23',
			'keywords' => 'the corporate weekly from Nepal, nepali corporate events – news – interviews – reviews, nepali corporate focus, nepali corporate status and news, news from nepali corporate industry, corporate happenings – events – news from nepal',
			'description' => 'Nearly Rs 4.84 billion has been spent to hold the second Constituent Assembly election, according to the Election Commission (EC). Organising a press meet on Dec 16, EC Spokesperson Bir Bahadur Rai said that figure was based on a preliminary report. The final details of poll expenditure  will be made public after the offices of the Election Officers and District Election Offices send the expenses details.',
			'sortorder' => '2170',
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	(int) 8 => array(
		'Article' => array(
			'id' => '2323',
			'article_category_id' => '140',
			'title' => 'SAARC Should Pressure Gulf Countries To Treat Workers Better',
			'sub_title' => '',
			'summary' => null,
			'content' => '<div>
	&nbsp;</div>
<div>
	<strong>--By TC Correspondent</strong></div>
<div>
	&nbsp;</div>
<div>
	Member states of the South Asian Association for Regional Cooperation (SAARC) should use their collective bargaining power to seek greater protection for their nationals working in the Gulf countries, a US-based rights group said on December 19 which is celebrated globally as the International Migrants&rsquo; Day.&nbsp;</div>
<div>
	&nbsp;</div>
<div>
	In a letter sent to the Secretary General of SAARC, the Human Rights Watch (HRW) said that a SAARC regional protection initiative could significantly enhance the living and working conditions of workers in low-paid sectors from India, Pakistan, Sri Lanka, Nepal and Bangladesh who routinely face violations of international labour standards and human rights law in the six Gulf states.&nbsp;</div>
<div>
	&nbsp;</div>
<div>
	The six Gulf Cooperation Council (GCC) countries are Kuwait, Oman, Qatar, Saudi Arabia, Bahrain and the United Arab Emirates (UAE).</div>
<div>
	&nbsp;</div>
<div>
	&ldquo;The Gulf countries should recognize the crucial role foreign workers play in their economies and take measures to ensure that their rights are fully respected,&rdquo; the letter reads, &ldquo;South Asian governments should join forces to press for reforms to end the terrible abuses against migrant workers that have gone on for far too long.&rdquo;</div>
<div>
	&nbsp;</div>
<div>
	&ldquo;The deaths of hundreds of South Asian workers in Qatar have shone a spotlight on the appalling living and working conditions of low-wage migrant workers in the construction sector. However, abuses in many sectors persist in Bahrain, Kuwait, Saudi Arabia, Oman and the UAE.&rdquo; Migrant workers in these countries typically have their passports confiscated and are forced to work under the highly exploitative kafala system of sponsorship-based employment, which prevents them from leaving employers. SAARC should urge GCC countries to respect non-discrimination and equal treatment of migrant workers and their right to join trade unions and bargain collectively, HRW said.</div>',
			'published' => true,
			'created' => '2013-12-23',
			'modified' => '2013-12-31',
			'keywords' => 'the corporate weekly from Nepal, nepali corporate events – news – interviews – reviews, nepali corporate focus, nepali corporate status and news, news from nepali corporate industry, corporate happenings – events – news from nepal',
			'description' => 'Member states of the South Asian Association for Regional Cooperation (SAARC) should use their collective bargaining power to seek greater protection for their nationals working in the Gulf countries, a US-based rights group said on December 19 which is celebrated globally as the International Migrants’ Day.',
			'sortorder' => '2166',
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	(int) 9 => array(
		'Article' => array(
			'id' => '2278',
			'article_category_id' => '140',
			'title' => 'Weekly Round Up (9 - 15 December 2013)',
			'sub_title' => '',
			'summary' => null,
			'content' => '<div>
	&bull;Switzerland has agreed to provide a financial assistance of Rs 1.09 billion to Nepal for the implementation of the second phase of the Local Governance and Community Development Program (LGCDP II). Finance Secretary Shanta Raj Subedi and Swiss Ambassador to Nepal, Urs Herren, signed an agreement to this effect on behalf of their respective governments amid a function in the Capital on December 11.The program will be implemented by the Ministry of Federal Affairs and Local Development for two years from July 16, 2013 to July 15, 2017, according to a press statement issued by the Ministry of Finance (MoF). The total cost of LGCDP II is US$ 1362 million out of which US$ 236 Million will be provided by Nepal&rsquo;s development partners including Switzerland.LGCDP II aims to improve local governance for effective service delivery, local development and citizen empowerment through investment in sectors such as Local Government Restructuring, Federal Governance, Fiscal Decentralization, Fiduciary Risk Reduction, Result Based Management, Capacity Development, Social Mobilization, Child Friendly Local Governance, Gender Equality and Social Inclusion, and Livelihood Improvement Schemes. The project covers all the 75 districts, 58 Municipalities and 3,915 Village Development Committees, according to the MoF.</div>
<div>
	&nbsp;</div>
<div>
	&bull;The government will be holding the second round of talks with the Saudi Fund for investment in the 20 MW Budhiganga Hydropower Project. A government team comprising representatives from the finance, energy and law ministries and the Department of Electricity Development (DoED) will head for Saudi Arabia in the third week of December to hold the talks, according to a source at DoED. &ldquo;The Saudi Fund has shown interest to invest in the Budhiganga Project. It has already agreed to provide a soft loan of around USD 20 million and has already forwarded a draft proposal for the same. We will be discussing the same proposal,&rdquo; the source explained. The first round of talks between the two sides was held in Kathmandu a few months back. The source further added that a team of the Saudi Fund will come to Kathmandu &ldquo;soon after&rdquo; the second round of talks to hold the third round of talks. &ldquo;We are supposed to sign the loan agreement during the third round of talks,&rdquo; said the source.</div>
<div>
	&nbsp;</div>
<div>
	&bull;The Commission for the Investigation of Abuse of Authority (CIAA) has collected Rs 49.5 million in fines from those found guilty of corruption and abuse of authority, according the latest annual report of the commission. Chief Commissioner Lokman Singh Karki presented the Commission&rsquo;s 2012/13 report to President Dr Yadav at a function held at the Rastrapati Bhawan on December 9. The report says that the CIAA had received 11,298 complaints in the year, of which 6,672 were resolved. Over 440 cases were registered in the regional administration offices, of which 145 were resolved. The CIAA filed 96 cases, including 16 that carried over from the previous fiscal year, at the Special Court. The Commission won 76 of these cases. In this year&rsquo;s Corruption Perception Index published by Transparency International, Nepal has climbed to the 116th position from 139th in the previous year.</div>
<div>
	&nbsp;</div>
<div>
	&bull;The government on Dec 12 decided to provide a loan of Rs 1.65 billion to the Nepal Oil Corporation (NOC). The Employees&rsquo; Provident Fund (EPF) will provide Rs. 850 million and the Citizens&rsquo; Investment Trust will provide Rs. 800 million, according to Minister for Information and Communications and government spokesperson, Madhav Prasad Poudel. The Government of Nepal will stand guarantee for the loan, Poudel added. The Cabinet meeting also decided to give a green signal to the Ministry of Urban Development to move ahead with the ongoing negotiations with the Asian Development Bank for signing an agreement for a financial aid worth Rs. 2.42 billion for the Melamchi Drinking Water Supply Project.</div>
<div>
	&nbsp;</div>
<div>
	&bull;In the fourth month (Kartik) of the current fiscal year, the year-on-year change in consumer inflation has reached 10 percent, says the latest monthly regular report from Nepal Rastra Bank (NRB). This is 0.5 per cent less than the consumer inflation for the same period of the last fiscal year. The NRB has set the target of keeping the average inflation rate within 8 percent in the current fiscal year. The inflation rate which remained in single digit for three consecutive months of the current fiscal year reached double digit (10 per cent) in the fourth month. According to experts, this is because of excess money supply to the banks for various reasons.</div>',
			'published' => true,
			'created' => '2013-12-17',
			'modified' => '2013-12-17',
			'keywords' => 'the corporate weekly from Nepal, nepali corporate events – news – interviews – reviews, nepali corporate focus, nepali corporate status and news, news from nepali corporate industry, corporate happenings – events – news from nepal',
			'description' => 'Switzerland has agreed to provide a financial assistance of Rs 1.09 billion to Nepal for the implementation of the second phase of the Local Governance and Community Development Program (LGCDP II). Finance Secretary Shanta Raj Subedi and Swiss Ambassador to Nepal, Urs Herren, signed an agreement to this effect on behalf of their respective governments amid a function in the Capital on December 11.',
			'sortorder' => '2126',
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	(int) 10 => array(
		'Article' => array(
			'id' => '2276',
			'article_category_id' => '140',
			'title' => 'Focus On Budget Implementation: FM',
			'sub_title' => '',
			'summary' => null,
			'content' => '<div>
	&nbsp;</div>
<div>
	<strong>--By TC Correspondent</strong></div>
<div>
	&nbsp;</div>
<div>
	Finance Minister Shanker Prasad Koirala has stressed on the need for the implementation of programmes included in the country&rsquo;s annual budget. Speaking at the quarterly review meeting of development projects held on December 12 at the Ministry of Finance, Koirala urged all stakeholders to coordinate with the concerned agency if any problem emerged in development projects prioritised in the national budget. He also said that the programmes included in the budget were the state&rsquo;s commitment.</div>
<div>
	&nbsp;</div>
<div>
	&ldquo;Everything included in the country&rsquo;s annual budget is the state&rsquo;s commitment,&rdquo; he said urging the officials to expedite the development projects that were stalled due to the CA election and festivals. The Comptroller General and top officials of government ministries and departments were present in the review meeting.</div>
<div>
	&nbsp;</div>
<div>
	The finance minister directed the officials present in the meeting to work in coordination with the Nepal Rastra Bank (NRB) by attaching high priority to livestock and crops insurance, micro credit and cold storage programmes. He directed the officials not to fulfill formality by only seeking the progress reports of the development projects. &nbsp;</div>
<div>
	&nbsp;</div>
<div>
	&ldquo;Please expedite the works of the development projects that were stalled due to the festivals and election. I am always there to support you,&rdquo; he assured.</div>
<div>
	&nbsp;</div>
<div>
	Speaking at the meeting, vice-chairperson of the National Planning Commission (NPC) Rabindra Kumar Shakya asked the implementing agencies to end the culture of zero progress of the development programmes. He urged them to present clear reasons for the emergence of such situation. He asked them not to cite the same problem time and again but to explore the reasons behind the malpractice.</div>
<div>
	&nbsp;</div>
<div>
	Similarly, NRB Governor Dr Yubaraj Khatiwada pointed out the need for investment for the commercialization of agriculture in the country. Speaking at the meeting, Finance Secretary Shanta Raj Subedi said that the development expenditure made during the first quarter of the current fiscal year was not satisfactory. He expressed dissatisfaction over the ineffective performance of regulatory bodies such as central bank, securities board and the Insurance Board. Likewise, Finance Comptroller Suman Sharma stressed on the need for effective internal audit for maintaining fiscal discipline.</div>',
			'published' => true,
			'created' => '2013-12-17',
			'modified' => '2013-12-17',
			'keywords' => 'the corporate weekly from Nepal, nepali corporate events – news – interviews – reviews, nepali corporate focus, nepali corporate status and news, news from nepali corporate industry, corporate happenings – events – news from nepal',
			'description' => 'Finance Minister Shanker Prasad Koirala has stressed on the need for the implementation of programmes included in the country’s annual budget. Speaking at the quarterly review meeting of development projects held on December 12 at the Ministry of Finance, Koirala urged all stakeholders to coordinate with the concerned agency if any problem emerged in development projects prioritised in the national budget. He also said that the programmes included in the budget were the state’s commitment.',
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	(int) 11 => array(
		'Article' => array(
			'id' => '2277',
			'article_category_id' => '140',
			'title' => 'Samriddhi Felicitates Entrepreneurs',
			'sub_title' => '',
			'summary' => null,
			'content' => '<div>
	&nbsp;</div>
<div>
	<strong>--By TC Correspondent</strong></div>
<div>
	&nbsp;</div>
<div>
	Samriddhi, the Prosperity Foundation, felicitated eight young entrepreneurs for their outstanding achievements amidst a special function organised in the capital last Thursday (December 12). The felicitation programme which followed a series of other events including seminars and interactions between successful and budding entrepreneurs was the final event to celebrate the Global Entrepreneurship Week (GEW) 2013.</div>
<div>
	&nbsp;</div>
<div>
	&ldquo;The final event is the one that recognizes the efforts and success stories of prominent and upcoming entrepreneurs from different sectors,&rdquo; said a press statement from Samriddhi, &ldquo;These entrepreneurs are thus recognized for creating wealth, jobs and better goods and services that make the lives of hundreds and thousands easier.&rdquo;</div>
<div>
	&nbsp;</div>
<div>
	Samriddhi has been celebrating GEW, which is celebrated globally from November 17 to 23, since 2010. &ldquo;However, given the second Constituent Assembly elections on November 19, the celebrations of GEW in Nepal took place eight days later,&rdquo; the statement said.</div>
<div>
	&nbsp;</div>
<div>
	Renowned social entrepreneur Anil Chitrakar was the key-note speaker of the programme which was moderated by Ranjit Acharya, CEO of Prisma Advertising. &nbsp;&nbsp;</div>
<div>
	&nbsp;</div>
<div>
	<span style="font-size:14px;"><strong>List of the felicitated entrepreneurs</strong></span></div>
<div>
	1.Anil Keshari Shah &ndash; CEO, Mega Bank</div>
<div>
	2.<span class="Apple-tab-span" style="white-space:pre"> </span>Bhubaneshwor Phaiiju &ndash; Proprietor, Tranquility Spa</div>
<div>
	3.<span class="Apple-tab-span" style="white-space:pre"> </span>Bir Bahadur Ghale &ndash; Ashoka Fellow, Microhydro Entrepreneur</div>
<div>
	4.<span class="Apple-tab-span" style="white-space:pre"> </span>Chetan Bhandari &ndash; Chairman, Bajeko Sekuwa</div>
<div>
	5.<span class="Apple-tab-span" style="white-space:pre"> </span>Deependra Tandon &ndash; Director, Advantage Group</div>
<div>
	6.<span class="Apple-tab-span" style="white-space:pre"> </span>Khadananda Shiwakoti &ndash; Owner, Siwakoti Bags</div>
<div>
	7.<span class="Apple-tab-span" style="white-space:pre"> </span>Swapnil Acharya &ndash; Director, Expressive Studios</div>
<div>
	8.<span class="Apple-tab-span" style="white-space:pre"> </span>Ujjwal Chapagain &ndash; Managing Director, The Himalayan Rabbit Farm &nbsp;&nbsp;</div>',
			'published' => true,
			'created' => '2013-12-17',
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			'keywords' => 'the corporate weekly from Nepal, nepali corporate events – news – interviews – reviews, nepali corporate focus, nepali corporate status and news, news from nepali corporate industry, corporate happenings – events – news from nepal',
			'description' => 'Samriddhi, the Prosperity Foundation, felicitated eight young entrepreneurs for their outstanding achievements amidst a special function organised in the capital last Thursday (December 12). The felicitation programme which followed a series of other events including seminars and interactions between successful and budding entrepreneurs was the final event to celebrate the Global Entrepreneurship Week (GEW) 2013.',
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		'Article' => array(
			'id' => '2237',
			'article_category_id' => '140',
			'title' => 'Nepal Political News In Brief (9 - 15 December 2013)',
			'sub_title' => '',
			'summary' => null,
			'content' => '<div>
	<span style="font-size:14px;"><strong>Singh Sings Consensus Tune</strong></span></div>
<div>
	Nepali Congress general secretary Prakashman Singh said drafting a new constitution on the basis of consensus was the need of the hour. Speaking at a programme in capital last Saturday, newly-elected Constituent Assembly (CA) member Singh said his party would take initiative for drafting a new constitution by taking all the political parties represented there into confidence. The matters of government formation and about the President cropped up in the present should be seriously dealt with as they could fuel people&rsquo;s frustrations, he said. Underlining the need of ending long-standing political transition as soon as possible, leader Singh assured of understanding between the Congress and CPN (UML) to settle the contentious issues.</div>
<div>
	&nbsp;</div>
<div>
	<span style="font-size:14px;"><strong>Secy Baskota Monitors Road Expansion Works</strong></span></div>
<div>
	Secretary at the Office of the Prime Minister and Council of Ministers, Krishna Hari Baskota, has directed the concerned sectors to expedite the works under the road expansion campaign in the Kathmandu Valley. Secretary Baskota, who is also the coordinator of road expansion high level monitoring committee, monitored the expansion works and directed the concerned sectors to complete the road expansion very quickly.&rdquo;If the contractors are lackadaisical, they must be made aware of it, and if it does not work, the contract can be scrapped,&rdquo; he warned the contractors.&nbsp;</div>
<div>
	&nbsp;</div>
<div>
	<span style="font-size:14px;"><strong>Gajurel&rsquo;s Nay to Unity with UCPN (Maoist)</strong></span></div>
<div>
	CPN-Maoist vice-chairman CP Gajurel has said there was no possibility of party&rsquo;s unification with the UCPN-Maoist. &ldquo;There was no meaning in forging alliance with the UCPN-Maoist, from which we walked away last year,&rdquo; he said, adding that the UCPN-Maoist was an opportunist party. Speaking at an interaction programme organised in capital last Saturday, Vice-Chairman Gajurel &nbsp;accused the leaders of the UCPN (Maoist) of harbouring opportunistic character. However, he said if it agreed in roundtable conference, the CPN-Maoist would talk of unity with this party.</div>
<div>
	&nbsp;</div>
<div>
	<span style="font-size:14px;"><strong>Gachhadar Bats for Congress-led Govt</strong></span></div>
<div>
	Madhesi Janadhikar Forum- Democratic chairman Bijay Kumar Gachhadar has said that his party would support the government under the leadership of Nepali Congress (NC). During the meeting with NC president Sushil Koirala held at his residence in Maharajgunj last Friday, Gachchhadar said that his party was committed to democracy and would support the government under the NC-led government. During the meeting the two leaders discussed about forging political consensus to form the government, to call the first meeting of the Constituent Assembly (CA) and Legislature-Parliament, and constitution writing among other contemporary issues.&nbsp;</div>
<div>
	&nbsp;</div>
<div>
	<span style="font-size:14px;"><strong>CA Court Summons Dahal</strong></span></div>
<div>
	Constituent Assembly court issued an order last Friday summoning UCPN (Maoist) chairman Pushpa Kamal Dahal, winner from &nbsp;Siraha constituency no. 5, to appear in the court within 10 days. A divisional bench of CA Court Chairperson Kalyan Shrestha and member duo, Girish Chandra Lal and Sushila Karki issued the directive to UCPN (Maoist) Chairperson Dahal and election officer of Siraha constituency no. 5 Uddhav Bhattarai, among others. CPN-UML candidate from the constituency Leelanath Shrestha had demanded re-polling alleging election rigging by the cadres of Chairperson Dahal.</div>',
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			'description' => 'Nepali Congress general secretary Prakashman Singh said drafting a new constitution on the basis of consensus was the need of the hour.',
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			'id' => '2236',
			'article_category_id' => '140',
			'title' => 'Weekly Round Up (2 - 8 December 2013)',
			'sub_title' => '',
			'summary' => null,
			'content' => '<div>
	&bull;The European Union (EU) imposed a blanket ban on all airlines from Nepal last Thursday from flying into the 28-nation bloc under the latest changes to its list of unsafe carriers. The European Commission updated for the 22nd time the European list of airlines subject to an operating ban or operational restrictions within the EU, better known as &ldquo;the EU air safety list.&rdquo; &nbsp;&ldquo;On the basis of safety information from various sources and a hearing both with Nepalis aviation authorities as well as with a number of Nepalese carriers, the Commission decided to put all airlines from Nepal on the EU air safety list,&rdquo; the EU said. As a consequence of the ban on Nepalis carriers, they are prevented from flying into or within the Union. This ban is not only a major setback to Nepal&rsquo;s tourism industry, but to the country as a whole. Although none of the Nepali carriers make flight to the 28-nation bloc, the consequences could be seen in the tourism and economy from the travel alert on European travellers to not use Nepali carriers. &nbsp;</div>
<div>
	&nbsp;</div>
<div>
	&nbsp;</div>
<div>
	&bull;Ninth WTO Ministerial Conference has concluded at Bali adopting a five-draft decision declaration and the 10-document full Bali Package that addresses the Doha Development Agenda. The last-minute deal would lower trade barriers and speed up the passage of goods through customs. Analysts estimate that over time it could boost the world economy by hundreds of billions of dollars and create more than 20 million jobs, mostly in developing countries. As a coordinator of the Consultative Group of the LDCs at the ongoing WTO conference in Bali, Indonesia, Nepal has raised its voice to demand a larger space in international trade for LDCs. Also, with the country itself facing barriers aplenty in international trade and a skyrocketing trade deficit, Nepal tried voice its concerns on existing multi-lateral and bilateral trade issues. Though developed countries have pledged Duty-Free-Quota-Free (DFQF) market access to 97 percent of the goods originating from LDCs as per Hong Kong Ministerial Conference in 2005, only around 80- 91 percent of the goods are enjoying such facility. Nepal has been getting this facility for 81 percent of its exports &nbsp;to developed countires while some other African LDCs have been enjoying this for 91 percent of their total exports to developed countries under the DFQF.&nbsp;</div>
<div>
	&nbsp;</div>
<div>
	&bull;The government has collected Rs 94.32 billion revenue in the first quarter of the current fiscal year. The amount is Rs 140 million higher than the target. The government had collected Rs 78.3 billion revenue in the corresponding period of the last fiscal year. The collected revenue is 20.87 per cent higher compared to the amount of the corresponding period of the last fiscal year.&nbsp;</div>
<div>
	&nbsp;</div>
<div>
	&bull;Nepal Electricity Authority (NEA) has begun buying an additional 30 MW of power from India in a bid to ease the chronic power shortage in the country during winter. The Power Trading Corporation of India has sold the power to Nepal at a rate of Rs.3.75 (NRs.6) per unit. The additional power import takes Nepal&rsquo;s total import from India to 165 MW. Nepal has been requesting India to provide at least 250 MW to meet its increasing power deficit. The NEA is aiming to bring down load-shedding to 12 hours this winter by getting more power from India. Currently, there is a shortfall of 350 MW to meet the requirements as existing capacity is just around 700 MW.Measures are being taken to reduce power demand, including operating some multi-fuel plants and revamping existing power plants. Officials say Nepal pays around Rs.22 billion every year for procuring power from India, which includes importing inverters and diesel generators.</div>',
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			'description' => 'The European Union (EU) imposed a blanket ban on all airlines from Nepal last Thursday from flying into the 28-nation bloc under the latest changes to its list of unsafe carriers. The European Commission updated for the 22nd time the European list of airlines subject to an operating ban or operational restrictions within the EU, better known as “the EU air safety list.”',
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			'id' => '2235',
			'article_category_id' => '140',
			'title' => 'NC, UML Sign Three-point Deal',
			'sub_title' => '',
			'summary' => null,
			'content' => '<div>
	Nepali Congress (NC) and CPN (UML) have signed a three-point pact last Saturday. The two parties have agreed to move ahead together with mutual understanding and collaboration to complete the political responsibility.&nbsp;</div>
<div>
	&nbsp;</div>
<div>
	They have also reached an understanding to immediately hold dialogue with UCPN (Maoist) as well as its breakaway faction of the CPN-Maoist.&nbsp;</div>
<div>
	&nbsp;</div>
<div>
	NC President Sushil Koirala and UML Chairperson Jhalanath Khanal signed the three-point deal that includes a commitment to move ahead together on mutual understanding. The leaders of the two parties have agreed on an agreement following a hectic dialogue at Peace Fund Secretariat in Babarmahal, Kathmandu.</div>
<div>
	&nbsp;</div>
<div>
	The two parties also expressed thanks to all sides concerned for the successful holding of free, fair and impartial CA election on November 19.</div>',
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			'description' => 'Nepali Congress (NC) and CPN (UML) have signed a three-point pact last Saturday. The two parties have agreed to move ahead together with mutual understanding and collaboration to complete the political responsibility.',
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		'Article' => array(
			'id' => '2413',
			'article_category_id' => '140',
			'title' => '36 Entrepreneurs, Firms To Be Recognized With CIP Honour',
			'sub_title' => '',
			'summary' => null,
			'content' => '<div>
	<strong>--By TC Correspondent</strong></div>
<div>
	&nbsp;</div>
<div>
	The government will soon be honouring three dozen entrepreneurs and business persons as Commercially Important Person (CIP) for their contribution to the economy and commercial sector. A meeting of the Technical Committee of the Trade and Export Promotion Centre (TEPC) on January 1 decided to recommend the names of 36 exporters, importers, investors, employers and entrepreneurs to the Ministry of Commerce and Supplies (MoCS) in order to recognize them with the CIP hounour within the month of January. According to TEPC Executive Director Ishwari Prasad Ghimire, a minister level decision will be taken at the earliest possible to honour the industrialists and entrepreneurs.</div>
<div>
	&nbsp;</div>
<div>
	According to the Guidelines for the CIP honour, entrepreneurs and companies with controversial background will not be awarded with the honour. It is because of this provision that the list of the entrepreneurs and firms to be hounoured was pending at the In-land Revenue Department (IRD|) for a long time for investigation. &ldquo;That&rsquo;s why it took a long time to finalise the list,&rdquo; a source said. Now the IRD has given its go-ahead, it is learnt. There are eight categories of the entrepreneurs and companies to be awarded the CIP honour - 13 Nepali exporters, nine foreign importers of Nepali goods, eight business chambers and commodities associations, two from the tourism sector, one highest taxpayer, one highest employment creator, one highest investor in manufacturing sector, and one from the remittance sector. Those awarded with the CIP honour will get high priority to meet the Prime Minister and ministers. Similarly they will get VIP privileges at the Tribhuvan International Airport. Foreigners who will get the award will get on-arrival visas of 15 to 90 days.&nbsp;</div>
<div>
	&nbsp;</div>
<div>
	According to the provisions of the guidelines, the government will not award CIP to any person or business blacklisted by any government authority; blacklisted by Credit Information Bureau as a defaulter of any bank or financial institution; of bad moral and convicted by the court; convicted of corruption and financial irregularities and tax defaulter till the previous year.&nbsp;</div>',
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			'created' => '2014-01-06',
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			'keywords' => 'the corporate weekly from Nepal, nepali corporate events – news – interviews – reviews, nepali corporate focus, nepali corporate status and news, news from nepali corporate industry, corporate happenings – events – news from nepal',
			'description' => 'The government will soon be honouring three dozen entrepreneurs and business persons as Commercially Important Person (CIP) for their contribution to the economy and commercial sector. A meeting of the Technical Committee of the Trade and Export Promotion Centre (TEPC) on January 1 decided to recommend the names of 36 exporters, importers, investors, employers and entrepreneurs to the Ministry of Commerce and Supplies (MoCS) in order to recognize them with the CIP hounour within the month of January.',
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			'article_category_id' => '140',
			'title' => 'Online Building Permit From Mid-January',
			'sub_title' => '',
			'summary' => null,
			'content' => '<div>
	<strong>--By TC Correspondent</strong></div>
<div>
	&nbsp;</div>
<div>
	The government is preparing to implement online building permit from mid-January, 2014. According to Suresh Prakash Acharya, spokesperson for the Ministry of Urban Development (MoUD), the decision to implement online permit will minimize the hassles seen in the landownership registration process. &ldquo;At present the land registration process takes nearly six months,&rdquo; he said, &ldquo;after the online system is implemented, it will take just about 15 days.&rdquo;</div>
<div>
	&nbsp;</div>
<div>
	He added that the online permit system will take away the trouble of visiting the land registration office. The government has already implemented the online permit system in certain wards of the Kathmandu Metropolis and Lalitpur Sub-metropolis.</div>
<div>
	&nbsp;</div>
<div>
	Secretary at the MoUD, Kishore Thapa, told The Corporate that the online permit system will be gradually implemented across the country once it becomes successful in the Kathmandu Valley. The Kathmandu Metropolis has implemented this project as a pilot project in certain wards. As all wards of Kathmandu Metropolis are connected with the Internet, officials at the MoUD hope that the project will be successful.</div>
<div>
	&nbsp;</div>
<div>
	&ldquo;All [municipal and VDC] wards should be connected with electricity and Internet,&rdquo; Thapa said, &ldquo;Online building permit system can be implemented if all places are connected with electricity and Internet.&rdquo;</div>
<div>
	&nbsp;</div>
<div>
	Once there is an agreement between the seller and buyer of a piece of land, an electronic copy of the map of the land will be sent to the concerned government office through online. Then the land will be registered in the name of the buyer. One the service seekers bring their file to the concerned government office, they can monitor the land registration process online.</div>',
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			'created' => '2013-12-31',
			'modified' => '2013-12-31',
			'keywords' => 'the corporate weekly from Nepal, nepali corporate events – news – interviews – reviews, nepali corporate focus, nepali corporate status and news, news from nepali corporate industry, corporate happenings – events – news from nepal',
			'description' => 'The government is preparing to implement online building permit from mid-January, 2014. According to Suresh Prakash Acharya, spokesperson for the Ministry of Urban Development (MoUD), the decision to implement online permit will minimize the hassles seen in the landownership registration process. “At present the land registration process takes nearly six months,” he said, “after the online system is implemented, it will take just about 15 days.”',
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			'article_category_id' => '140',
			'title' => 'Nepal Political Economic News In Brief (30 December - 5 January 2013)',
			'sub_title' => '',
			'summary' => null,
			'content' => '<div>
	<span style="font-size:14px;"><strong>HLPC Formalizes Four-point Deal</strong></span></div>
<div>
	A meeting of the High Level Political Committee (HLPC) on December 24 has formalised the four-point agreement reached by the top three parties. The meeting also decided to request the Election Commission to extend the deadline for submission of Proportional Representation (PR) names for the Constituent Assembly by five more days. Eight parties, including the Nepali Congress, CPN-UML, UCPN-M and Madhesh-based parties have signed the deal, paving the way for the formation of the Constituent Assembly. The four agreements are: Formation of a parliamentary panel to investigate the alleged vote-rigging during the Nov 19 CA polls; continuation of the HLPC by including top leaders of other parties present in the CA; Promulgate the new Constitution within a year; and form a Truth and Reconciliation Commission to conclude the peace process.</div>
<div>
	&nbsp;</div>
<div>
	<span style="font-size:14px;"><strong>18 Parties Agree to Join CA</strong></span></div>
<div>
	Eighteen political parties including the UCPN (Maoist) have decided to join the newly elected Constituent Assembly (CA) after the three major parties &ndash; Nepali Congress (NC), CPN (UML) AND UCPN (Maoist) reached a four-point deal on December 24. A meeting of 18 political parties held at the UCPN (M) headquarters at Parisdanda agreed to participate in the CA arguing that the NC and UML had accepted their demands. Talking to media persons after the meeting, UCPN(Maoist) Spokesperson Agni Prasad Sapkota said they decided to be a part of the new CA after the NC and UML agreed to address their demands.&nbsp;</div>
<div>
	&nbsp;</div>
<div>
	<span style="font-size:14px;"><strong>PR List Submission Deadline Extended by Five Days&nbsp;</strong></span></div>
<div>
	The Election Commission (EC) on December 25 extended the deadline for submission of names of winning candidates under the proportional representation (PR) system by five more days. This is the third deadline extension by the constitutional body upon the request of the political parties. Parties now have to submit their PR lists by December 30. Top leaders of the major political parties had reached the EC on Dec 23 asking for the deadline extension after signing the four-point agreement.</div>
<div>
	&nbsp;</div>
<div>
	<span style="font-size:14px;"><strong>New Govt and CA Meet Soon: Regmi</strong></span></div>
<div>
	Chairman of the Council of Ministers, Khil Raj Regmi has said that the formation of the Constituent Assembly (CA) and a new government will take place soon. Addressing a programme in the Capital on December 25, Chairman Regmi said that the first session of the CA and the process of forming a new elected government will begin soon. &ldquo;I&rsquo;m confident that the new session of CA will begin soon, so will be the task of forming a new government and promulgating a new constitution,&rdquo; Regmi said. &ldquo;Now we should invest our skills and labor for development, peace and socio-economic transformation of the country,&rdquo; remarked Regmi.</div>
<div>
	&nbsp;</div>
<div>
	<span style="font-size:14px;"><strong>UCPN (Maoist)&rsquo;s Unconditional Support to NC-led Govt</strong></span></div>
<div>
	Former finance minister and leader of the UCPN (Maoist) Barshaman Pun has said that his party will extend unconditional support to the next government to be led by the Nepali Congress. He, however, said that his party will not participate in the new government to be formed. &ldquo;We will play a constructive role of an opposition party inside the Constituent Assembly. We will not engage in the game of changing the government. Our focus will be on promulgating the new constitution within a year,&rdquo; Pun said, speaking at a programme in the Capital on December 25.</div>',
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			'keywords' => 'the corporate weekly from Nepal, nepali corporate events – news – interviews – reviews, nepali corporate focus, nepali corporate status and news, news from nepali corporate industry, corporate happenings – events – news from nepal',
			'description' => 'A meeting of the High Level Political Committee (HLPC) on December 24 has formalised the four-point agreement reached by the top three parties. The meeting also decided to request the Election Commission to extend the deadline for submission of Proportional Representation (PR) names for the Constituent Assembly by five more days. Eight parties, including the Nepali Congress, CPN-UML, UCPN-M and Madhesh-based parties have signed the deal, paving the way for the formation of the Constituent Assembly. The four agreements are: Formation of a parliamentary panel to investigate the alleged vote-rigging during the Nov 19 CA polls; continuation of the HLPC by including top leaders of other parties present in the CA; Promulgate the new Constitution within a year; and form a Truth and Reconciliation Commission to conclude the peace process',
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			'id' => '2368',
			'article_category_id' => '140',
			'title' => 'Weekly Round Up (23 - 29 December 2013)',
			'sub_title' => '',
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			'content' => '<div>
	<span style="font-size:14px;"><strong>Gearing Revenue Mobilisation</strong></span></div>
<div>
	Finance Minister Shanker Prasad Koirala has directed revenue administration officials to work efficiently to meet the daily target of Rs 1 billion revenue mobilisation. Speaking at a programme organised by the Big Taxpayers&rsquo; Office on December 23, Koirala urged the officials to be more professional and efficient and meet the revenue target. He also motivated them to fully utilise the time of mid-December to mid-January as this period is the time to collect more revenue in the country. &ldquo;Don&rsquo;t lose your professionalism thinking that the current government will be gone soon. The revenue collection target will be same whoever comes as the finance minister,&rdquo; he said.</div>
<div>
	&nbsp;</div>
<div>
	<span style="font-size:14px;"><strong>WB Funds Agri-Development</strong></span></div>
<div>
	The World Bank (WB) has approved US$ 150 million for two projects designed to help improve connectivity and raise agricultural productivity across 33 districts. The project titled &ldquo;Strengthening the National Rural Transport Programme&rdquo;, which has received USD 100 million intends to enhance the availability and reliability of transport connectivity in 33 districts. They are Arghakhanchi, Banke, Bara, Bardia, Bhojpur, Dang, Dhading, Dhanusha, Gulmi, Kailali, Kanchanpur, Kapilvastu, Kaski, Mahottari, Makwanpur, Nawalparasi, Nuwakot, Palpa, Parsa, Pyuthan, Rasuwa, Rautahat, Rupandehi, Salyan, Sakhuwasabha, Saptari, Sarlahi, Siraha, Surkhet, Syangja, Tanahu, Tehrathum and Udaypur, according to a press statement from the Bank. Similarly, the Irrigation and Water Resources Management Project, which is under implementation since December 2007 has received US$ 50 million. The assistance will help rehabilitate 80 additional farmer-managed irrigation schemes (FMIS) in 40 districts of the Western, Mid-Western and Far-Western Regions of Nepal.</div>
<div>
	&nbsp;</div>
<div>
	<span style="font-size:14px;"><strong>Load-shedding for Half the Day</strong></span></div>
<div>
	Energy Minister Umakanta Jha has said the load-shedding time will not exceed 12 hours a day this winter. Talking to journalists at Bharatpur on December 25, Jha said the country witnessed 15-hour power outage a day last winter. &ldquo;But, this time it will be limited to 12 hours a day,&rdquo; said Minister Jha who had reached there to inspect the Narayani river embankment. He added that the government was preparing to import 200 MW of electricity from India to keep the load-shedding duration below 12 hours a day.</div>
<div>
	&nbsp;</div>
<div>
	<span style="font-size:14px;"><strong>Biratnagar Golchha Office Gutted</strong></span></div>
<div>
	An estimated property worth over Rs. 50 million was destroyed when the Biratnagar office of Golchha Organisation caught fire on December 26. It took firefighters one and a half hours to douse the fire which was detected at around 9 in the morning. According to sources, the fire was caused by a short circuit in the third floor of the building that housed the account section of the office. The fire is said to have destroyed office equipment, furniture and important records of the office. There was human casualty.</div>
<div>
	&nbsp;</div>
<div>
	<span style="font-size:14px;"><strong>Far-west Industrial Trade Fair</strong></span></div>
<div>
	With the aim of promoting industrial and economic development of the Far-western Development Region, a 10-day &lsquo;Far-West Industrial Trade Fair&rsquo; is going to be organized in Mahendranagar from January 10, 2014. The Fair will feature 150 stalls of various products from various districts of Far-West. The Fair is being organised with support from the ministries of agriculture development, commerce and supplies, Bhimduttanagar Municipality and the private sector. The organisers expect over 150,000 visitors and a transaction of over Rs 120 million during the fair.</div>',
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			'keywords' => 'the corporate weekly from Nepal, nepali corporate events – news – interviews – reviews, nepali corporate focus, nepali corporate status and news, news from nepali corporate industry, corporate happenings – events – news from nepal',
			'description' => 'Finance Minister Shanker Prasad Koirala has directed revenue administration officials to work efficiently to meet the daily target of Rs 1 billion revenue mobilisation. Speaking at a programme organised by the Big Taxpayers’ Office on December 23, Koirala urged the officials to be more professional and efficient and meet the revenue target',
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	(int) 4 => array(
		'Article' => array(
			'id' => '2367',
			'article_category_id' => '140',
			'title' => '‘Sushil Koirala  To Lead New Govt’',
			'sub_title' => '',
			'summary' => null,
			'content' => '<div>
	<strong>--By TC Correspondent</strong></div>
<div>
	&nbsp;</div>
<div>
	Nepali Congress (NC) Spokesperson Dilendra Prasad Badu has said that the new government will be formed under the leadership of the party&rsquo;s President Sushil Koirala once the Constituent Assembly (CA) gets a full shape.</div>
<div>
	&nbsp;</div>
<div>
	Speaking at an interaction program in Kathmandu on December 27, Badu also made it clear that there was no dispute inside the NC about Koirala leading the new government.</div>
<div>
	&nbsp;</div>
<div>
	&ldquo;We will try to form a consensus government by bringing all major political parties on board. If this does not happen, a majority government will be formed,&rdquo; said Badu.&nbsp;</div>
<div>
	&nbsp;</div>
<div>
	UCPN (Maoist leaders have already said to extend unconditional support to a NC-led government.</div>',
			'published' => true,
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			'keywords' => 'the corporate weekly from Nepal, nepali corporate events – news – interviews – reviews, nepali corporate focus, nepali corporate status and news, news from nepali corporate industry, corporate happenings – events – news from nepal',
			'description' => 'Nepali Congress (NC) Spokesperson Dilendra Prasad Badu has said that the new government will be formed under the leadership of the party’s President Sushil Koirala once the Constituent Assembly (CA) gets a full shape.',
			'sortorder' => '2209',
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	(int) 5 => array(
		'Article' => array(
			'id' => '2365',
			'article_category_id' => '140',
			'title' => '4 Out Of 5 Farmers Lack Access To Loans',
			'sub_title' => '',
			'summary' => null,
			'content' => '<div>
	<strong>--By TC Correspondent</strong></div>
<div>
	&nbsp;</div>
<div>
	Of the total farm households in the country, nearly 79 percent lack access to formal financial services provided by banks and financial institutions (BFIs). According to bankers,&nbsp;</div>
<div>
	a huge majority of farmers do not have access to agro loans as the BFIs are yet to penetrate the rural areas. The process of sanctioning loans to farmers is not hassle-free even where the BFIs are present, as revealed by the National Agriculture Census Report 2011/12.</div>
<div>
	&nbsp;</div>
<div>
	According to the Report, 3,831,093 households in the country own land. Out of them, only 835,921 households (21.81 per cent) have availed agro loans. This means a whopping 2,995,172 households do not have access to bank loans. The Report says that of the total farm households, 42 per cent have said that they need agro loans.</div>
<div>
	&nbsp;</div>
<div>
	President of Nepal Bankers&rsquo; Association and CEO of Citizens Bank International, Rajan Singh Bhandari informed The Corporate that though banks have increased their investment in the agriculture sector, the banks have not been able to take financial services to all farmers. &ldquo;The commercial banks lack the capacity to take financial services to all the farming households in the country,&rdquo; he said.</div>
<div>
	&nbsp;</div>
<div>
	President of Development Bankers Association, Nepal, and CEO of Kaliash Development Bank, Krishna Raj Lamichhane accepts that the agricultural loan flow from the BFIs at present is not enough. &ldquo;We need a special policy to increase farmers&rsquo; access to financial services,&rdquo; says Lamichhane.</div>
<div>
	&nbsp;</div>
<div>
	The latest census shows that of the farmers who have taken loans for agricultural purpose, 34.57 per cent have borrowed from their relatives. Similarly, 16.61 per cent of such farmers have borrowed from the Agricultural Development Bank, 8.67 per cent from the commercial banks, 15.67 per cent from cooperatives, 9.73 per cent from farmers&rsquo; groups, 12.95 per cent from women&rsquo;s groups, and 5.78 per cent have borrowed from &lsquo;others&rsquo;.</div>',
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			'created' => '2013-12-31',
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			'description' => 'Of the total farm households in the country, nearly 79 percent lack access to formal financial services provided by banks and financial institutions (BFIs). According to bankers, 
a huge majority of farmers do not have access to agro loans as the BFIs are yet to penetrate the rural areas. The process of sanctioning loans to farmers is not hassle-free even where the BFIs are present, as revealed by the National Agriculture Census Report 2011/12.',
			'sortorder' => '2207',
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	(int) 6 => array(
		'Article' => array(
			'id' => '2322',
			'article_category_id' => '140',
			'title' => 'Nepal-India Cooperation In Hydropower For Mutual Benefit: Indian Envoy',
			'sub_title' => '',
			'summary' => null,
			'content' => '<div>
	&nbsp;</div>
<div>
	<strong>--By TC Correspondent</strong></div>
<div>
	&nbsp;</div>
<div>
	Indian Ambassador to Nepal Ranjit Rae has said that Nepal and India should work together for the development of hydropower in Nepal. Speaking at a press conference for the first time after assuming office in November, the Indian envoy said such cooperation between Nepal and India would benefit both countries.</div>
<div>
	&nbsp;</div>
<div>
	&ldquo;It is important for Nepal to develop hydropower and Nepal should work with India,&rdquo; Ambassador Rae said, adding that he was &ldquo;very optimistic and confident&rdquo; that Nepal would move ahead in that direction.</div>
<div>
	&nbsp;</div>
<div>
	&ldquo;For mutual benefit, it is necessary too,&rdquo; he said.&nbsp;</div>
<div>
	&nbsp;</div>
<div>
	In another context, the Indian envoy said India was willing to inject more investment in Nepal and hoped that Nepal will have peace and stability following the Nov 19 Constituent Assembly elections. &ldquo;Soon there will be a new government and certainly we will bring new dynamism in bilateral relations,&rdquo; Rae said.</div>
<div>
	&nbsp;</div>
<div>
	The Indian Embassy had organized the press conference to inform the media about the Indo-Nepal Inter-Governmental Committee (IGC) meet and the India Investrade held on Dec 20-22. &nbsp;&nbsp;</div>
<div>
	&nbsp;</div>
<div>
	&ldquo;The IGC used to work as a traditional regulatory body for bilateral trade and transit issues, but it should now develop a forum to promote bilateral trade,&rdquo; he said.</div>
<div>
	&nbsp;</div>
<div>
	He said the existing framework of the IGC should be expanded, private-public partnership should be promoted and private sectors from both countries should provide feedback to the IGC that will help in decision-making and also work out to bring investment in diverse fields.</div>
<div>
	&nbsp;</div>
<div>
	&ldquo;We need to develop a mechanism to incorporate the private sector where the government mechanism can address concerns put forth by the private players,&rdquo; he said.</div>
<div>
	&nbsp;</div>
<div>
	He expressed concern over the low foreign direct investment (FDI) from India, which is around Rs.40.60 billion at a time when many Indian companies are buying properties and making their fortunes across the globe.</div>
<div>
	&nbsp;</div>
<div>
	&ldquo;There are lots of issues from both sides which need to be discussed... It may be political reasons or may be policy ones or infrastructure,&rdquo; the ambassador said when asked why there was low FDI from India.</div>',
			'published' => true,
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			'keywords' => 'the corporate weekly from Nepal, nepali corporate events – news – interviews – reviews, nepali corporate focus, nepali corporate status and news, news from nepali corporate industry, corporate happenings – events – news from nepal',
			'description' => 'Indian Ambassador to Nepal Ranjit Rae has said that Nepal and India should work together for the development of hydropower in Nepal. Speaking at a press conference for the first time after assuming office in November, the Indian envoy said such cooperation between Nepal and India would benefit both countries.',
			'sortorder' => '2196',
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	(int) 7 => array(
		'Article' => array(
			'id' => '2324',
			'article_category_id' => '140',
			'title' => 'Weekly Round Up (22 - 28 December 2013)',
			'sub_title' => '',
			'summary' => null,
			'content' => '<div>
	&bull;Nearly Rs 4.84 billion has been spent to hold the second Constituent Assembly election, according to the Election Commission (EC). Organising a press meet on Dec 16, EC Spokesperson Bir Bahadur Rai said that figure was based on a preliminary report. The final details of poll expenditure &nbsp;will be made public after the offices of the Election Officers and District Election Offices send the expenses details. The EC said that a total of Rs 4.75 billion was received under basket fund through the Nepal Peace Trust Fund. Different foreign governments had pledged Rs 3 billion for the CA elections.</div>
<div>
	&nbsp;</div>
<div>
	&bull;<span class="Apple-tab-span" style="white-space:pre"> </span>A team of French investors will be visiting Nepal over the next two months. French ambassador to Nepal, Martine BASSEREAU, during a meeting with Finance Minister Shankar Prasad Koirala on Dec 16, said that the French government will soon begin a study on the operation of cable car in the Kathmandu Valley. He also urged the Nepal government to extend all kinds of cooperation to the French investors, adding that the French government is interested in urban development in Nepal.</div>
<div>
	&nbsp;</div>
<div>
	&bull;<span class="Apple-tab-span" style="white-space:pre"> </span>The government has spent about Rs 120 billion in the first five months of the current fiscal year. This is Rs 38.42 billion more than the capital expenditure made in the same period of the previous fiscal year, according to Bhoomiram Sharma, joint spokesperson for the Ministry of Finance. The government has spent 23 per cent of the total annual budget in the first five months of the current fiscal year, Sharma added.</div>
<div>
	&nbsp;</div>
<div>
	&bull;<span class="Apple-tab-span" style="white-space:pre"> </span>The government is preparing to bring the national budget for fiscal year 2014/15 in the first Nepal month of Baisakh (mid April to mid May). In a budget review organized at the Ministry of Finance (MoF) on Dec 18, Finance Secretary Shanta Raj Subedi also said that the government is also planning to fix the budgetary ceiling for three years. Presently, the National Planning Commission fixes the budget ceiling on an annual basis.</div>
<div>
	&nbsp;</div>
<div>
	&bull;<span class="Apple-tab-span" style="white-space:pre"> </span>Indian Chamber of Commerce (ICC) organized a three-day Exposition and Buyer Seller Meet from 20-22 December at Bhrikuti Mandap. About 60 Indian companies representing electrical equipment and energy sector participated in the event. &nbsp;</div>
<div>
	<span class="Apple-tab-span" style="white-space:pre"> </span>The International Labour Organisation (ILO) and the European Union (EU) are going to launch a new project aimed at promoting the management of labour migration from India, Nepal and Pakistan to the Gulf Cooperation Council (GCC) nations. The project-which has a total budget of about 2.4 million euros will run until May 2016, according to a press release jointly issued by ILO and EU. The new project titled &ldquo;Promoting Effective Governance of Labour Migration from South Asia&rdquo; will contribute to ensure effective protection of the rights of vulnerable migrant workers, enhance the development impact of labour migration and reduce unregulated migration.</div>
<div>
	&nbsp;</div>
<div>
	&bull;<span class="Apple-tab-span" style="white-space:pre"> </span>The Confederation of Nepalese Industries (CNI) organized a workshop under the project &ldquo;Go International Project&rdquo; with support from the European Union (EU) on December 18 in Kathmandu. Inaugurating the programme, Madhav Prasad Regmi, Secretary at the Ministry of Commerce and Supplies (MoCS), appreciated the effort of CNI in implementation of the project which is aimed at the internationalization of Nepalese products. He also expressed his sincere appreciation to EU for their support in trade sector development in Nepal. Delivering his welcome speech, CNI President Narendra Kumar Basnyat emphasized the current scenario of the Nepali economy and trade and expressed his hope that the new government to be formed would work towards economic liberalization, export promotion and &nbsp; creation of favourable investment atmosphere in country. Similarly, Maria Castaldi, Representative of the EU Delegation expressed satisfaction and happiness to support the project &ldquo;Go International&rdquo; and appreciated CNI for leading the project.</div>',
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			'created' => '2013-12-23',
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			'keywords' => 'the corporate weekly from Nepal, nepali corporate events – news – interviews – reviews, nepali corporate focus, nepali corporate status and news, news from nepali corporate industry, corporate happenings – events – news from nepal',
			'description' => 'Nearly Rs 4.84 billion has been spent to hold the second Constituent Assembly election, according to the Election Commission (EC). Organising a press meet on Dec 16, EC Spokesperson Bir Bahadur Rai said that figure was based on a preliminary report. The final details of poll expenditure  will be made public after the offices of the Election Officers and District Election Offices send the expenses details.',
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	(int) 8 => array(
		'Article' => array(
			'id' => '2323',
			'article_category_id' => '140',
			'title' => 'SAARC Should Pressure Gulf Countries To Treat Workers Better',
			'sub_title' => '',
			'summary' => null,
			'content' => '<div>
	&nbsp;</div>
<div>
	<strong>--By TC Correspondent</strong></div>
<div>
	&nbsp;</div>
<div>
	Member states of the South Asian Association for Regional Cooperation (SAARC) should use their collective bargaining power to seek greater protection for their nationals working in the Gulf countries, a US-based rights group said on December 19 which is celebrated globally as the International Migrants&rsquo; Day.&nbsp;</div>
<div>
	&nbsp;</div>
<div>
	In a letter sent to the Secretary General of SAARC, the Human Rights Watch (HRW) said that a SAARC regional protection initiative could significantly enhance the living and working conditions of workers in low-paid sectors from India, Pakistan, Sri Lanka, Nepal and Bangladesh who routinely face violations of international labour standards and human rights law in the six Gulf states.&nbsp;</div>
<div>
	&nbsp;</div>
<div>
	The six Gulf Cooperation Council (GCC) countries are Kuwait, Oman, Qatar, Saudi Arabia, Bahrain and the United Arab Emirates (UAE).</div>
<div>
	&nbsp;</div>
<div>
	&ldquo;The Gulf countries should recognize the crucial role foreign workers play in their economies and take measures to ensure that their rights are fully respected,&rdquo; the letter reads, &ldquo;South Asian governments should join forces to press for reforms to end the terrible abuses against migrant workers that have gone on for far too long.&rdquo;</div>
<div>
	&nbsp;</div>
<div>
	&ldquo;The deaths of hundreds of South Asian workers in Qatar have shone a spotlight on the appalling living and working conditions of low-wage migrant workers in the construction sector. However, abuses in many sectors persist in Bahrain, Kuwait, Saudi Arabia, Oman and the UAE.&rdquo; Migrant workers in these countries typically have their passports confiscated and are forced to work under the highly exploitative kafala system of sponsorship-based employment, which prevents them from leaving employers. SAARC should urge GCC countries to respect non-discrimination and equal treatment of migrant workers and their right to join trade unions and bargain collectively, HRW said.</div>',
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			'description' => 'Member states of the South Asian Association for Regional Cooperation (SAARC) should use their collective bargaining power to seek greater protection for their nationals working in the Gulf countries, a US-based rights group said on December 19 which is celebrated globally as the International Migrants’ Day.',
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	(int) 9 => array(
		'Article' => array(
			'id' => '2278',
			'article_category_id' => '140',
			'title' => 'Weekly Round Up (9 - 15 December 2013)',
			'sub_title' => '',
			'summary' => null,
			'content' => '<div>
	&bull;Switzerland has agreed to provide a financial assistance of Rs 1.09 billion to Nepal for the implementation of the second phase of the Local Governance and Community Development Program (LGCDP II). Finance Secretary Shanta Raj Subedi and Swiss Ambassador to Nepal, Urs Herren, signed an agreement to this effect on behalf of their respective governments amid a function in the Capital on December 11.The program will be implemented by the Ministry of Federal Affairs and Local Development for two years from July 16, 2013 to July 15, 2017, according to a press statement issued by the Ministry of Finance (MoF). The total cost of LGCDP II is US$ 1362 million out of which US$ 236 Million will be provided by Nepal&rsquo;s development partners including Switzerland.LGCDP II aims to improve local governance for effective service delivery, local development and citizen empowerment through investment in sectors such as Local Government Restructuring, Federal Governance, Fiscal Decentralization, Fiduciary Risk Reduction, Result Based Management, Capacity Development, Social Mobilization, Child Friendly Local Governance, Gender Equality and Social Inclusion, and Livelihood Improvement Schemes. The project covers all the 75 districts, 58 Municipalities and 3,915 Village Development Committees, according to the MoF.</div>
<div>
	&nbsp;</div>
<div>
	&bull;The government will be holding the second round of talks with the Saudi Fund for investment in the 20 MW Budhiganga Hydropower Project. A government team comprising representatives from the finance, energy and law ministries and the Department of Electricity Development (DoED) will head for Saudi Arabia in the third week of December to hold the talks, according to a source at DoED. &ldquo;The Saudi Fund has shown interest to invest in the Budhiganga Project. It has already agreed to provide a soft loan of around USD 20 million and has already forwarded a draft proposal for the same. We will be discussing the same proposal,&rdquo; the source explained. The first round of talks between the two sides was held in Kathmandu a few months back. The source further added that a team of the Saudi Fund will come to Kathmandu &ldquo;soon after&rdquo; the second round of talks to hold the third round of talks. &ldquo;We are supposed to sign the loan agreement during the third round of talks,&rdquo; said the source.</div>
<div>
	&nbsp;</div>
<div>
	&bull;The Commission for the Investigation of Abuse of Authority (CIAA) has collected Rs 49.5 million in fines from those found guilty of corruption and abuse of authority, according the latest annual report of the commission. Chief Commissioner Lokman Singh Karki presented the Commission&rsquo;s 2012/13 report to President Dr Yadav at a function held at the Rastrapati Bhawan on December 9. The report says that the CIAA had received 11,298 complaints in the year, of which 6,672 were resolved. Over 440 cases were registered in the regional administration offices, of which 145 were resolved. The CIAA filed 96 cases, including 16 that carried over from the previous fiscal year, at the Special Court. The Commission won 76 of these cases. In this year&rsquo;s Corruption Perception Index published by Transparency International, Nepal has climbed to the 116th position from 139th in the previous year.</div>
<div>
	&nbsp;</div>
<div>
	&bull;The government on Dec 12 decided to provide a loan of Rs 1.65 billion to the Nepal Oil Corporation (NOC). The Employees&rsquo; Provident Fund (EPF) will provide Rs. 850 million and the Citizens&rsquo; Investment Trust will provide Rs. 800 million, according to Minister for Information and Communications and government spokesperson, Madhav Prasad Poudel. The Government of Nepal will stand guarantee for the loan, Poudel added. The Cabinet meeting also decided to give a green signal to the Ministry of Urban Development to move ahead with the ongoing negotiations with the Asian Development Bank for signing an agreement for a financial aid worth Rs. 2.42 billion for the Melamchi Drinking Water Supply Project.</div>
<div>
	&nbsp;</div>
<div>
	&bull;In the fourth month (Kartik) of the current fiscal year, the year-on-year change in consumer inflation has reached 10 percent, says the latest monthly regular report from Nepal Rastra Bank (NRB). This is 0.5 per cent less than the consumer inflation for the same period of the last fiscal year. The NRB has set the target of keeping the average inflation rate within 8 percent in the current fiscal year. The inflation rate which remained in single digit for three consecutive months of the current fiscal year reached double digit (10 per cent) in the fourth month. According to experts, this is because of excess money supply to the banks for various reasons.</div>',
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			'created' => '2013-12-17',
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			'keywords' => 'the corporate weekly from Nepal, nepali corporate events – news – interviews – reviews, nepali corporate focus, nepali corporate status and news, news from nepali corporate industry, corporate happenings – events – news from nepal',
			'description' => 'Switzerland has agreed to provide a financial assistance of Rs 1.09 billion to Nepal for the implementation of the second phase of the Local Governance and Community Development Program (LGCDP II). Finance Secretary Shanta Raj Subedi and Swiss Ambassador to Nepal, Urs Herren, signed an agreement to this effect on behalf of their respective governments amid a function in the Capital on December 11.',
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	(int) 10 => array(
		'Article' => array(
			'id' => '2276',
			'article_category_id' => '140',
			'title' => 'Focus On Budget Implementation: FM',
			'sub_title' => '',
			'summary' => null,
			'content' => '<div>
	&nbsp;</div>
<div>
	<strong>--By TC Correspondent</strong></div>
<div>
	&nbsp;</div>
<div>
	Finance Minister Shanker Prasad Koirala has stressed on the need for the implementation of programmes included in the country&rsquo;s annual budget. Speaking at the quarterly review meeting of development projects held on December 12 at the Ministry of Finance, Koirala urged all stakeholders to coordinate with the concerned agency if any problem emerged in development projects prioritised in the national budget. He also said that the programmes included in the budget were the state&rsquo;s commitment.</div>
<div>
	&nbsp;</div>
<div>
	&ldquo;Everything included in the country&rsquo;s annual budget is the state&rsquo;s commitment,&rdquo; he said urging the officials to expedite the development projects that were stalled due to the CA election and festivals. The Comptroller General and top officials of government ministries and departments were present in the review meeting.</div>
<div>
	&nbsp;</div>
<div>
	The finance minister directed the officials present in the meeting to work in coordination with the Nepal Rastra Bank (NRB) by attaching high priority to livestock and crops insurance, micro credit and cold storage programmes. He directed the officials not to fulfill formality by only seeking the progress reports of the development projects. &nbsp;</div>
<div>
	&nbsp;</div>
<div>
	&ldquo;Please expedite the works of the development projects that were stalled due to the festivals and election. I am always there to support you,&rdquo; he assured.</div>
<div>
	&nbsp;</div>
<div>
	Speaking at the meeting, vice-chairperson of the National Planning Commission (NPC) Rabindra Kumar Shakya asked the implementing agencies to end the culture of zero progress of the development programmes. He urged them to present clear reasons for the emergence of such situation. He asked them not to cite the same problem time and again but to explore the reasons behind the malpractice.</div>
<div>
	&nbsp;</div>
<div>
	Similarly, NRB Governor Dr Yubaraj Khatiwada pointed out the need for investment for the commercialization of agriculture in the country. Speaking at the meeting, Finance Secretary Shanta Raj Subedi said that the development expenditure made during the first quarter of the current fiscal year was not satisfactory. He expressed dissatisfaction over the ineffective performance of regulatory bodies such as central bank, securities board and the Insurance Board. Likewise, Finance Comptroller Suman Sharma stressed on the need for effective internal audit for maintaining fiscal discipline.</div>',
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			'description' => 'Finance Minister Shanker Prasad Koirala has stressed on the need for the implementation of programmes included in the country’s annual budget. Speaking at the quarterly review meeting of development projects held on December 12 at the Ministry of Finance, Koirala urged all stakeholders to coordinate with the concerned agency if any problem emerged in development projects prioritised in the national budget. He also said that the programmes included in the budget were the state’s commitment.',
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	(int) 11 => array(
		'Article' => array(
			'id' => '2277',
			'article_category_id' => '140',
			'title' => 'Samriddhi Felicitates Entrepreneurs',
			'sub_title' => '',
			'summary' => null,
			'content' => '<div>
	&nbsp;</div>
<div>
	<strong>--By TC Correspondent</strong></div>
<div>
	&nbsp;</div>
<div>
	Samriddhi, the Prosperity Foundation, felicitated eight young entrepreneurs for their outstanding achievements amidst a special function organised in the capital last Thursday (December 12). The felicitation programme which followed a series of other events including seminars and interactions between successful and budding entrepreneurs was the final event to celebrate the Global Entrepreneurship Week (GEW) 2013.</div>
<div>
	&nbsp;</div>
<div>
	&ldquo;The final event is the one that recognizes the efforts and success stories of prominent and upcoming entrepreneurs from different sectors,&rdquo; said a press statement from Samriddhi, &ldquo;These entrepreneurs are thus recognized for creating wealth, jobs and better goods and services that make the lives of hundreds and thousands easier.&rdquo;</div>
<div>
	&nbsp;</div>
<div>
	Samriddhi has been celebrating GEW, which is celebrated globally from November 17 to 23, since 2010. &ldquo;However, given the second Constituent Assembly elections on November 19, the celebrations of GEW in Nepal took place eight days later,&rdquo; the statement said.</div>
<div>
	&nbsp;</div>
<div>
	Renowned social entrepreneur Anil Chitrakar was the key-note speaker of the programme which was moderated by Ranjit Acharya, CEO of Prisma Advertising. &nbsp;&nbsp;</div>
<div>
	&nbsp;</div>
<div>
	<span style="font-size:14px;"><strong>List of the felicitated entrepreneurs</strong></span></div>
<div>
	1.Anil Keshari Shah &ndash; CEO, Mega Bank</div>
<div>
	2.<span class="Apple-tab-span" style="white-space:pre"> </span>Bhubaneshwor Phaiiju &ndash; Proprietor, Tranquility Spa</div>
<div>
	3.<span class="Apple-tab-span" style="white-space:pre"> </span>Bir Bahadur Ghale &ndash; Ashoka Fellow, Microhydro Entrepreneur</div>
<div>
	4.<span class="Apple-tab-span" style="white-space:pre"> </span>Chetan Bhandari &ndash; Chairman, Bajeko Sekuwa</div>
<div>
	5.<span class="Apple-tab-span" style="white-space:pre"> </span>Deependra Tandon &ndash; Director, Advantage Group</div>
<div>
	6.<span class="Apple-tab-span" style="white-space:pre"> </span>Khadananda Shiwakoti &ndash; Owner, Siwakoti Bags</div>
<div>
	7.<span class="Apple-tab-span" style="white-space:pre"> </span>Swapnil Acharya &ndash; Director, Expressive Studios</div>
<div>
	8.<span class="Apple-tab-span" style="white-space:pre"> </span>Ujjwal Chapagain &ndash; Managing Director, The Himalayan Rabbit Farm &nbsp;&nbsp;</div>',
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			'created' => '2013-12-17',
			'modified' => '2013-12-17',
			'keywords' => 'the corporate weekly from Nepal, nepali corporate events – news – interviews – reviews, nepali corporate focus, nepali corporate status and news, news from nepali corporate industry, corporate happenings – events – news from nepal',
			'description' => 'Samriddhi, the Prosperity Foundation, felicitated eight young entrepreneurs for their outstanding achievements amidst a special function organised in the capital last Thursday (December 12). The felicitation programme which followed a series of other events including seminars and interactions between successful and budding entrepreneurs was the final event to celebrate the Global Entrepreneurship Week (GEW) 2013.',
			'sortorder' => '2120',
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	(int) 12 => array(
		'Article' => array(
			'id' => '2237',
			'article_category_id' => '140',
			'title' => 'Nepal Political News In Brief (9 - 15 December 2013)',
			'sub_title' => '',
			'summary' => null,
			'content' => '<div>
	<span style="font-size:14px;"><strong>Singh Sings Consensus Tune</strong></span></div>
<div>
	Nepali Congress general secretary Prakashman Singh said drafting a new constitution on the basis of consensus was the need of the hour. Speaking at a programme in capital last Saturday, newly-elected Constituent Assembly (CA) member Singh said his party would take initiative for drafting a new constitution by taking all the political parties represented there into confidence. The matters of government formation and about the President cropped up in the present should be seriously dealt with as they could fuel people&rsquo;s frustrations, he said. Underlining the need of ending long-standing political transition as soon as possible, leader Singh assured of understanding between the Congress and CPN (UML) to settle the contentious issues.</div>
<div>
	&nbsp;</div>
<div>
	<span style="font-size:14px;"><strong>Secy Baskota Monitors Road Expansion Works</strong></span></div>
<div>
	Secretary at the Office of the Prime Minister and Council of Ministers, Krishna Hari Baskota, has directed the concerned sectors to expedite the works under the road expansion campaign in the Kathmandu Valley. Secretary Baskota, who is also the coordinator of road expansion high level monitoring committee, monitored the expansion works and directed the concerned sectors to complete the road expansion very quickly.&rdquo;If the contractors are lackadaisical, they must be made aware of it, and if it does not work, the contract can be scrapped,&rdquo; he warned the contractors.&nbsp;</div>
<div>
	&nbsp;</div>
<div>
	<span style="font-size:14px;"><strong>Gajurel&rsquo;s Nay to Unity with UCPN (Maoist)</strong></span></div>
<div>
	CPN-Maoist vice-chairman CP Gajurel has said there was no possibility of party&rsquo;s unification with the UCPN-Maoist. &ldquo;There was no meaning in forging alliance with the UCPN-Maoist, from which we walked away last year,&rdquo; he said, adding that the UCPN-Maoist was an opportunist party. Speaking at an interaction programme organised in capital last Saturday, Vice-Chairman Gajurel &nbsp;accused the leaders of the UCPN (Maoist) of harbouring opportunistic character. However, he said if it agreed in roundtable conference, the CPN-Maoist would talk of unity with this party.</div>
<div>
	&nbsp;</div>
<div>
	<span style="font-size:14px;"><strong>Gachhadar Bats for Congress-led Govt</strong></span></div>
<div>
	Madhesi Janadhikar Forum- Democratic chairman Bijay Kumar Gachhadar has said that his party would support the government under the leadership of Nepali Congress (NC). During the meeting with NC president Sushil Koirala held at his residence in Maharajgunj last Friday, Gachchhadar said that his party was committed to democracy and would support the government under the NC-led government. During the meeting the two leaders discussed about forging political consensus to form the government, to call the first meeting of the Constituent Assembly (CA) and Legislature-Parliament, and constitution writing among other contemporary issues.&nbsp;</div>
<div>
	&nbsp;</div>
<div>
	<span style="font-size:14px;"><strong>CA Court Summons Dahal</strong></span></div>
<div>
	Constituent Assembly court issued an order last Friday summoning UCPN (Maoist) chairman Pushpa Kamal Dahal, winner from &nbsp;Siraha constituency no. 5, to appear in the court within 10 days. A divisional bench of CA Court Chairperson Kalyan Shrestha and member duo, Girish Chandra Lal and Sushila Karki issued the directive to UCPN (Maoist) Chairperson Dahal and election officer of Siraha constituency no. 5 Uddhav Bhattarai, among others. CPN-UML candidate from the constituency Leelanath Shrestha had demanded re-polling alleging election rigging by the cadres of Chairperson Dahal.</div>',
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			'description' => 'Nepali Congress general secretary Prakashman Singh said drafting a new constitution on the basis of consensus was the need of the hour.',
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			'id' => '2236',
			'article_category_id' => '140',
			'title' => 'Weekly Round Up (2 - 8 December 2013)',
			'sub_title' => '',
			'summary' => null,
			'content' => '<div>
	&bull;The European Union (EU) imposed a blanket ban on all airlines from Nepal last Thursday from flying into the 28-nation bloc under the latest changes to its list of unsafe carriers. The European Commission updated for the 22nd time the European list of airlines subject to an operating ban or operational restrictions within the EU, better known as &ldquo;the EU air safety list.&rdquo; &nbsp;&ldquo;On the basis of safety information from various sources and a hearing both with Nepalis aviation authorities as well as with a number of Nepalese carriers, the Commission decided to put all airlines from Nepal on the EU air safety list,&rdquo; the EU said. As a consequence of the ban on Nepalis carriers, they are prevented from flying into or within the Union. This ban is not only a major setback to Nepal&rsquo;s tourism industry, but to the country as a whole. Although none of the Nepali carriers make flight to the 28-nation bloc, the consequences could be seen in the tourism and economy from the travel alert on European travellers to not use Nepali carriers. &nbsp;</div>
<div>
	&nbsp;</div>
<div>
	&nbsp;</div>
<div>
	&bull;Ninth WTO Ministerial Conference has concluded at Bali adopting a five-draft decision declaration and the 10-document full Bali Package that addresses the Doha Development Agenda. The last-minute deal would lower trade barriers and speed up the passage of goods through customs. Analysts estimate that over time it could boost the world economy by hundreds of billions of dollars and create more than 20 million jobs, mostly in developing countries. As a coordinator of the Consultative Group of the LDCs at the ongoing WTO conference in Bali, Indonesia, Nepal has raised its voice to demand a larger space in international trade for LDCs. Also, with the country itself facing barriers aplenty in international trade and a skyrocketing trade deficit, Nepal tried voice its concerns on existing multi-lateral and bilateral trade issues. Though developed countries have pledged Duty-Free-Quota-Free (DFQF) market access to 97 percent of the goods originating from LDCs as per Hong Kong Ministerial Conference in 2005, only around 80- 91 percent of the goods are enjoying such facility. Nepal has been getting this facility for 81 percent of its exports &nbsp;to developed countires while some other African LDCs have been enjoying this for 91 percent of their total exports to developed countries under the DFQF.&nbsp;</div>
<div>
	&nbsp;</div>
<div>
	&bull;The government has collected Rs 94.32 billion revenue in the first quarter of the current fiscal year. The amount is Rs 140 million higher than the target. The government had collected Rs 78.3 billion revenue in the corresponding period of the last fiscal year. The collected revenue is 20.87 per cent higher compared to the amount of the corresponding period of the last fiscal year.&nbsp;</div>
<div>
	&nbsp;</div>
<div>
	&bull;Nepal Electricity Authority (NEA) has begun buying an additional 30 MW of power from India in a bid to ease the chronic power shortage in the country during winter. The Power Trading Corporation of India has sold the power to Nepal at a rate of Rs.3.75 (NRs.6) per unit. The additional power import takes Nepal&rsquo;s total import from India to 165 MW. Nepal has been requesting India to provide at least 250 MW to meet its increasing power deficit. The NEA is aiming to bring down load-shedding to 12 hours this winter by getting more power from India. Currently, there is a shortfall of 350 MW to meet the requirements as existing capacity is just around 700 MW.Measures are being taken to reduce power demand, including operating some multi-fuel plants and revamping existing power plants. Officials say Nepal pays around Rs.22 billion every year for procuring power from India, which includes importing inverters and diesel generators.</div>',
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			'description' => 'The European Union (EU) imposed a blanket ban on all airlines from Nepal last Thursday from flying into the 28-nation bloc under the latest changes to its list of unsafe carriers. The European Commission updated for the 22nd time the European list of airlines subject to an operating ban or operational restrictions within the EU, better known as “the EU air safety list.”',
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			'id' => '2235',
			'article_category_id' => '140',
			'title' => 'NC, UML Sign Three-point Deal',
			'sub_title' => '',
			'summary' => null,
			'content' => '<div>
	Nepali Congress (NC) and CPN (UML) have signed a three-point pact last Saturday. The two parties have agreed to move ahead together with mutual understanding and collaboration to complete the political responsibility.&nbsp;</div>
<div>
	&nbsp;</div>
<div>
	They have also reached an understanding to immediately hold dialogue with UCPN (Maoist) as well as its breakaway faction of the CPN-Maoist.&nbsp;</div>
<div>
	&nbsp;</div>
<div>
	NC President Sushil Koirala and UML Chairperson Jhalanath Khanal signed the three-point deal that includes a commitment to move ahead together on mutual understanding. The leaders of the two parties have agreed on an agreement following a hectic dialogue at Peace Fund Secretariat in Babarmahal, Kathmandu.</div>
<div>
	&nbsp;</div>
<div>
	The two parties also expressed thanks to all sides concerned for the successful holding of free, fair and impartial CA election on November 19.</div>',
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			'created' => '2013-12-09',
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			'description' => 'Nepali Congress (NC) and CPN (UML) have signed a three-point pact last Saturday. The two parties have agreed to move ahead together with mutual understanding and collaboration to complete the political responsibility.',
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			'id' => '2413',
			'article_category_id' => '140',
			'title' => '36 Entrepreneurs, Firms To Be Recognized With CIP Honour',
			'sub_title' => '',
			'summary' => null,
			'content' => '<div>
	<strong>--By TC Correspondent</strong></div>
<div>
	&nbsp;</div>
<div>
	The government will soon be honouring three dozen entrepreneurs and business persons as Commercially Important Person (CIP) for their contribution to the economy and commercial sector. A meeting of the Technical Committee of the Trade and Export Promotion Centre (TEPC) on January 1 decided to recommend the names of 36 exporters, importers, investors, employers and entrepreneurs to the Ministry of Commerce and Supplies (MoCS) in order to recognize them with the CIP hounour within the month of January. According to TEPC Executive Director Ishwari Prasad Ghimire, a minister level decision will be taken at the earliest possible to honour the industrialists and entrepreneurs.</div>
<div>
	&nbsp;</div>
<div>
	According to the Guidelines for the CIP honour, entrepreneurs and companies with controversial background will not be awarded with the honour. It is because of this provision that the list of the entrepreneurs and firms to be hounoured was pending at the In-land Revenue Department (IRD|) for a long time for investigation. &ldquo;That&rsquo;s why it took a long time to finalise the list,&rdquo; a source said. Now the IRD has given its go-ahead, it is learnt. There are eight categories of the entrepreneurs and companies to be awarded the CIP honour - 13 Nepali exporters, nine foreign importers of Nepali goods, eight business chambers and commodities associations, two from the tourism sector, one highest taxpayer, one highest employment creator, one highest investor in manufacturing sector, and one from the remittance sector. Those awarded with the CIP honour will get high priority to meet the Prime Minister and ministers. Similarly they will get VIP privileges at the Tribhuvan International Airport. Foreigners who will get the award will get on-arrival visas of 15 to 90 days.&nbsp;</div>
<div>
	&nbsp;</div>
<div>
	According to the provisions of the guidelines, the government will not award CIP to any person or business blacklisted by any government authority; blacklisted by Credit Information Bureau as a defaulter of any bank or financial institution; of bad moral and convicted by the court; convicted of corruption and financial irregularities and tax defaulter till the previous year.&nbsp;</div>',
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			'created' => '2014-01-06',
			'modified' => '2014-01-06',
			'keywords' => 'the corporate weekly from Nepal, nepali corporate events – news – interviews – reviews, nepali corporate focus, nepali corporate status and news, news from nepali corporate industry, corporate happenings – events – news from nepal',
			'description' => 'The government will soon be honouring three dozen entrepreneurs and business persons as Commercially Important Person (CIP) for their contribution to the economy and commercial sector. A meeting of the Technical Committee of the Trade and Export Promotion Centre (TEPC) on January 1 decided to recommend the names of 36 exporters, importers, investors, employers and entrepreneurs to the Ministry of Commerce and Supplies (MoCS) in order to recognize them with the CIP hounour within the month of January.',
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			'id' => '2366',
			'article_category_id' => '140',
			'title' => 'Online Building Permit From Mid-January',
			'sub_title' => '',
			'summary' => null,
			'content' => '<div>
	<strong>--By TC Correspondent</strong></div>
<div>
	&nbsp;</div>
<div>
	The government is preparing to implement online building permit from mid-January, 2014. According to Suresh Prakash Acharya, spokesperson for the Ministry of Urban Development (MoUD), the decision to implement online permit will minimize the hassles seen in the landownership registration process. &ldquo;At present the land registration process takes nearly six months,&rdquo; he said, &ldquo;after the online system is implemented, it will take just about 15 days.&rdquo;</div>
<div>
	&nbsp;</div>
<div>
	He added that the online permit system will take away the trouble of visiting the land registration office. The government has already implemented the online permit system in certain wards of the Kathmandu Metropolis and Lalitpur Sub-metropolis.</div>
<div>
	&nbsp;</div>
<div>
	Secretary at the MoUD, Kishore Thapa, told The Corporate that the online permit system will be gradually implemented across the country once it becomes successful in the Kathmandu Valley. The Kathmandu Metropolis has implemented this project as a pilot project in certain wards. As all wards of Kathmandu Metropolis are connected with the Internet, officials at the MoUD hope that the project will be successful.</div>
<div>
	&nbsp;</div>
<div>
	&ldquo;All [municipal and VDC] wards should be connected with electricity and Internet,&rdquo; Thapa said, &ldquo;Online building permit system can be implemented if all places are connected with electricity and Internet.&rdquo;</div>
<div>
	&nbsp;</div>
<div>
	Once there is an agreement between the seller and buyer of a piece of land, an electronic copy of the map of the land will be sent to the concerned government office through online. Then the land will be registered in the name of the buyer. One the service seekers bring their file to the concerned government office, they can monitor the land registration process online.</div>',
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			'created' => '2013-12-31',
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			'description' => 'The government is preparing to implement online building permit from mid-January, 2014. According to Suresh Prakash Acharya, spokesperson for the Ministry of Urban Development (MoUD), the decision to implement online permit will minimize the hassles seen in the landownership registration process. “At present the land registration process takes nearly six months,” he said, “after the online system is implemented, it will take just about 15 days.”',
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		'Article' => array(
			'id' => '2369',
			'article_category_id' => '140',
			'title' => 'Nepal Political Economic News In Brief (30 December - 5 January 2013)',
			'sub_title' => '',
			'summary' => null,
			'content' => '<div>
	<span style="font-size:14px;"><strong>HLPC Formalizes Four-point Deal</strong></span></div>
<div>
	A meeting of the High Level Political Committee (HLPC) on December 24 has formalised the four-point agreement reached by the top three parties. The meeting also decided to request the Election Commission to extend the deadline for submission of Proportional Representation (PR) names for the Constituent Assembly by five more days. Eight parties, including the Nepali Congress, CPN-UML, UCPN-M and Madhesh-based parties have signed the deal, paving the way for the formation of the Constituent Assembly. The four agreements are: Formation of a parliamentary panel to investigate the alleged vote-rigging during the Nov 19 CA polls; continuation of the HLPC by including top leaders of other parties present in the CA; Promulgate the new Constitution within a year; and form a Truth and Reconciliation Commission to conclude the peace process.</div>
<div>
	&nbsp;</div>
<div>
	<span style="font-size:14px;"><strong>18 Parties Agree to Join CA</strong></span></div>
<div>
	Eighteen political parties including the UCPN (Maoist) have decided to join the newly elected Constituent Assembly (CA) after the three major parties &ndash; Nepali Congress (NC), CPN (UML) AND UCPN (Maoist) reached a four-point deal on December 24. A meeting of 18 political parties held at the UCPN (M) headquarters at Parisdanda agreed to participate in the CA arguing that the NC and UML had accepted their demands. Talking to media persons after the meeting, UCPN(Maoist) Spokesperson Agni Prasad Sapkota said they decided to be a part of the new CA after the NC and UML agreed to address their demands.&nbsp;</div>
<div>
	&nbsp;</div>
<div>
	<span style="font-size:14px;"><strong>PR List Submission Deadline Extended by Five Days&nbsp;</strong></span></div>
<div>
	The Election Commission (EC) on December 25 extended the deadline for submission of names of winning candidates under the proportional representation (PR) system by five more days. This is the third deadline extension by the constitutional body upon the request of the political parties. Parties now have to submit their PR lists by December 30. Top leaders of the major political parties had reached the EC on Dec 23 asking for the deadline extension after signing the four-point agreement.</div>
<div>
	&nbsp;</div>
<div>
	<span style="font-size:14px;"><strong>New Govt and CA Meet Soon: Regmi</strong></span></div>
<div>
	Chairman of the Council of Ministers, Khil Raj Regmi has said that the formation of the Constituent Assembly (CA) and a new government will take place soon. Addressing a programme in the Capital on December 25, Chairman Regmi said that the first session of the CA and the process of forming a new elected government will begin soon. &ldquo;I&rsquo;m confident that the new session of CA will begin soon, so will be the task of forming a new government and promulgating a new constitution,&rdquo; Regmi said. &ldquo;Now we should invest our skills and labor for development, peace and socio-economic transformation of the country,&rdquo; remarked Regmi.</div>
<div>
	&nbsp;</div>
<div>
	<span style="font-size:14px;"><strong>UCPN (Maoist)&rsquo;s Unconditional Support to NC-led Govt</strong></span></div>
<div>
	Former finance minister and leader of the UCPN (Maoist) Barshaman Pun has said that his party will extend unconditional support to the next government to be led by the Nepali Congress. He, however, said that his party will not participate in the new government to be formed. &ldquo;We will play a constructive role of an opposition party inside the Constituent Assembly. We will not engage in the game of changing the government. Our focus will be on promulgating the new constitution within a year,&rdquo; Pun said, speaking at a programme in the Capital on December 25.</div>',
			'published' => true,
			'created' => '2013-12-31',
			'modified' => '2014-01-04',
			'keywords' => 'the corporate weekly from Nepal, nepali corporate events – news – interviews – reviews, nepali corporate focus, nepali corporate status and news, news from nepali corporate industry, corporate happenings – events – news from nepal',
			'description' => 'A meeting of the High Level Political Committee (HLPC) on December 24 has formalised the four-point agreement reached by the top three parties. The meeting also decided to request the Election Commission to extend the deadline for submission of Proportional Representation (PR) names for the Constituent Assembly by five more days. Eight parties, including the Nepali Congress, CPN-UML, UCPN-M and Madhesh-based parties have signed the deal, paving the way for the formation of the Constituent Assembly. The four agreements are: Formation of a parliamentary panel to investigate the alleged vote-rigging during the Nov 19 CA polls; continuation of the HLPC by including top leaders of other parties present in the CA; Promulgate the new Constitution within a year; and form a Truth and Reconciliation Commission to conclude the peace process',
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		'Article' => array(
			'id' => '2368',
			'article_category_id' => '140',
			'title' => 'Weekly Round Up (23 - 29 December 2013)',
			'sub_title' => '',
			'summary' => null,
			'content' => '<div>
	<span style="font-size:14px;"><strong>Gearing Revenue Mobilisation</strong></span></div>
<div>
	Finance Minister Shanker Prasad Koirala has directed revenue administration officials to work efficiently to meet the daily target of Rs 1 billion revenue mobilisation. Speaking at a programme organised by the Big Taxpayers&rsquo; Office on December 23, Koirala urged the officials to be more professional and efficient and meet the revenue target. He also motivated them to fully utilise the time of mid-December to mid-January as this period is the time to collect more revenue in the country. &ldquo;Don&rsquo;t lose your professionalism thinking that the current government will be gone soon. The revenue collection target will be same whoever comes as the finance minister,&rdquo; he said.</div>
<div>
	&nbsp;</div>
<div>
	<span style="font-size:14px;"><strong>WB Funds Agri-Development</strong></span></div>
<div>
	The World Bank (WB) has approved US$ 150 million for two projects designed to help improve connectivity and raise agricultural productivity across 33 districts. The project titled &ldquo;Strengthening the National Rural Transport Programme&rdquo;, which has received USD 100 million intends to enhance the availability and reliability of transport connectivity in 33 districts. They are Arghakhanchi, Banke, Bara, Bardia, Bhojpur, Dang, Dhading, Dhanusha, Gulmi, Kailali, Kanchanpur, Kapilvastu, Kaski, Mahottari, Makwanpur, Nawalparasi, Nuwakot, Palpa, Parsa, Pyuthan, Rasuwa, Rautahat, Rupandehi, Salyan, Sakhuwasabha, Saptari, Sarlahi, Siraha, Surkhet, Syangja, Tanahu, Tehrathum and Udaypur, according to a press statement from the Bank. Similarly, the Irrigation and Water Resources Management Project, which is under implementation since December 2007 has received US$ 50 million. The assistance will help rehabilitate 80 additional farmer-managed irrigation schemes (FMIS) in 40 districts of the Western, Mid-Western and Far-Western Regions of Nepal.</div>
<div>
	&nbsp;</div>
<div>
	<span style="font-size:14px;"><strong>Load-shedding for Half the Day</strong></span></div>
<div>
	Energy Minister Umakanta Jha has said the load-shedding time will not exceed 12 hours a day this winter. Talking to journalists at Bharatpur on December 25, Jha said the country witnessed 15-hour power outage a day last winter. &ldquo;But, this time it will be limited to 12 hours a day,&rdquo; said Minister Jha who had reached there to inspect the Narayani river embankment. He added that the government was preparing to import 200 MW of electricity from India to keep the load-shedding duration below 12 hours a day.</div>
<div>
	&nbsp;</div>
<div>
	<span style="font-size:14px;"><strong>Biratnagar Golchha Office Gutted</strong></span></div>
<div>
	An estimated property worth over Rs. 50 million was destroyed when the Biratnagar office of Golchha Organisation caught fire on December 26. It took firefighters one and a half hours to douse the fire which was detected at around 9 in the morning. According to sources, the fire was caused by a short circuit in the third floor of the building that housed the account section of the office. The fire is said to have destroyed office equipment, furniture and important records of the office. There was human casualty.</div>
<div>
	&nbsp;</div>
<div>
	<span style="font-size:14px;"><strong>Far-west Industrial Trade Fair</strong></span></div>
<div>
	With the aim of promoting industrial and economic development of the Far-western Development Region, a 10-day &lsquo;Far-West Industrial Trade Fair&rsquo; is going to be organized in Mahendranagar from January 10, 2014. The Fair will feature 150 stalls of various products from various districts of Far-West. The Fair is being organised with support from the ministries of agriculture development, commerce and supplies, Bhimduttanagar Municipality and the private sector. The organisers expect over 150,000 visitors and a transaction of over Rs 120 million during the fair.</div>',
			'published' => true,
			'created' => '2013-12-31',
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			'keywords' => 'the corporate weekly from Nepal, nepali corporate events – news – interviews – reviews, nepali corporate focus, nepali corporate status and news, news from nepali corporate industry, corporate happenings – events – news from nepal',
			'description' => 'Finance Minister Shanker Prasad Koirala has directed revenue administration officials to work efficiently to meet the daily target of Rs 1 billion revenue mobilisation. Speaking at a programme organised by the Big Taxpayers’ Office on December 23, Koirala urged the officials to be more professional and efficient and meet the revenue target',
			'sortorder' => '2210',
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	(int) 4 => array(
		'Article' => array(
			'id' => '2367',
			'article_category_id' => '140',
			'title' => '‘Sushil Koirala  To Lead New Govt’',
			'sub_title' => '',
			'summary' => null,
			'content' => '<div>
	<strong>--By TC Correspondent</strong></div>
<div>
	&nbsp;</div>
<div>
	Nepali Congress (NC) Spokesperson Dilendra Prasad Badu has said that the new government will be formed under the leadership of the party&rsquo;s President Sushil Koirala once the Constituent Assembly (CA) gets a full shape.</div>
<div>
	&nbsp;</div>
<div>
	Speaking at an interaction program in Kathmandu on December 27, Badu also made it clear that there was no dispute inside the NC about Koirala leading the new government.</div>
<div>
	&nbsp;</div>
<div>
	&ldquo;We will try to form a consensus government by bringing all major political parties on board. If this does not happen, a majority government will be formed,&rdquo; said Badu.&nbsp;</div>
<div>
	&nbsp;</div>
<div>
	UCPN (Maoist leaders have already said to extend unconditional support to a NC-led government.</div>',
			'published' => true,
			'created' => '2013-12-31',
			'modified' => '2013-12-31',
			'keywords' => 'the corporate weekly from Nepal, nepali corporate events – news – interviews – reviews, nepali corporate focus, nepali corporate status and news, news from nepali corporate industry, corporate happenings – events – news from nepal',
			'description' => 'Nepali Congress (NC) Spokesperson Dilendra Prasad Badu has said that the new government will be formed under the leadership of the party’s President Sushil Koirala once the Constituent Assembly (CA) gets a full shape.',
			'sortorder' => '2209',
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		'Article' => array(
			'id' => '2365',
			'article_category_id' => '140',
			'title' => '4 Out Of 5 Farmers Lack Access To Loans',
			'sub_title' => '',
			'summary' => null,
			'content' => '<div>
	<strong>--By TC Correspondent</strong></div>
<div>
	&nbsp;</div>
<div>
	Of the total farm households in the country, nearly 79 percent lack access to formal financial services provided by banks and financial institutions (BFIs). According to bankers,&nbsp;</div>
<div>
	a huge majority of farmers do not have access to agro loans as the BFIs are yet to penetrate the rural areas. The process of sanctioning loans to farmers is not hassle-free even where the BFIs are present, as revealed by the National Agriculture Census Report 2011/12.</div>
<div>
	&nbsp;</div>
<div>
	According to the Report, 3,831,093 households in the country own land. Out of them, only 835,921 households (21.81 per cent) have availed agro loans. This means a whopping 2,995,172 households do not have access to bank loans. The Report says that of the total farm households, 42 per cent have said that they need agro loans.</div>
<div>
	&nbsp;</div>
<div>
	President of Nepal Bankers&rsquo; Association and CEO of Citizens Bank International, Rajan Singh Bhandari informed The Corporate that though banks have increased their investment in the agriculture sector, the banks have not been able to take financial services to all farmers. &ldquo;The commercial banks lack the capacity to take financial services to all the farming households in the country,&rdquo; he said.</div>
<div>
	&nbsp;</div>
<div>
	President of Development Bankers Association, Nepal, and CEO of Kaliash Development Bank, Krishna Raj Lamichhane accepts that the agricultural loan flow from the BFIs at present is not enough. &ldquo;We need a special policy to increase farmers&rsquo; access to financial services,&rdquo; says Lamichhane.</div>
<div>
	&nbsp;</div>
<div>
	The latest census shows that of the farmers who have taken loans for agricultural purpose, 34.57 per cent have borrowed from their relatives. Similarly, 16.61 per cent of such farmers have borrowed from the Agricultural Development Bank, 8.67 per cent from the commercial banks, 15.67 per cent from cooperatives, 9.73 per cent from farmers&rsquo; groups, 12.95 per cent from women&rsquo;s groups, and 5.78 per cent have borrowed from &lsquo;others&rsquo;.</div>',
			'published' => true,
			'created' => '2013-12-31',
			'modified' => '2013-12-31',
			'keywords' => 'the corporate weekly from Nepal, nepali corporate events – news – interviews – reviews, nepali corporate focus, nepali corporate status and news, news from nepali corporate industry, corporate happenings – events – news from nepal',
			'description' => 'Of the total farm households in the country, nearly 79 percent lack access to formal financial services provided by banks and financial institutions (BFIs). According to bankers, 
a huge majority of farmers do not have access to agro loans as the BFIs are yet to penetrate the rural areas. The process of sanctioning loans to farmers is not hassle-free even where the BFIs are present, as revealed by the National Agriculture Census Report 2011/12.',
			'sortorder' => '2207',
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	(int) 6 => array(
		'Article' => array(
			'id' => '2322',
			'article_category_id' => '140',
			'title' => 'Nepal-India Cooperation In Hydropower For Mutual Benefit: Indian Envoy',
			'sub_title' => '',
			'summary' => null,
			'content' => '<div>
	&nbsp;</div>
<div>
	<strong>--By TC Correspondent</strong></div>
<div>
	&nbsp;</div>
<div>
	Indian Ambassador to Nepal Ranjit Rae has said that Nepal and India should work together for the development of hydropower in Nepal. Speaking at a press conference for the first time after assuming office in November, the Indian envoy said such cooperation between Nepal and India would benefit both countries.</div>
<div>
	&nbsp;</div>
<div>
	&ldquo;It is important for Nepal to develop hydropower and Nepal should work with India,&rdquo; Ambassador Rae said, adding that he was &ldquo;very optimistic and confident&rdquo; that Nepal would move ahead in that direction.</div>
<div>
	&nbsp;</div>
<div>
	&ldquo;For mutual benefit, it is necessary too,&rdquo; he said.&nbsp;</div>
<div>
	&nbsp;</div>
<div>
	In another context, the Indian envoy said India was willing to inject more investment in Nepal and hoped that Nepal will have peace and stability following the Nov 19 Constituent Assembly elections. &ldquo;Soon there will be a new government and certainly we will bring new dynamism in bilateral relations,&rdquo; Rae said.</div>
<div>
	&nbsp;</div>
<div>
	The Indian Embassy had organized the press conference to inform the media about the Indo-Nepal Inter-Governmental Committee (IGC) meet and the India Investrade held on Dec 20-22. &nbsp;&nbsp;</div>
<div>
	&nbsp;</div>
<div>
	&ldquo;The IGC used to work as a traditional regulatory body for bilateral trade and transit issues, but it should now develop a forum to promote bilateral trade,&rdquo; he said.</div>
<div>
	&nbsp;</div>
<div>
	He said the existing framework of the IGC should be expanded, private-public partnership should be promoted and private sectors from both countries should provide feedback to the IGC that will help in decision-making and also work out to bring investment in diverse fields.</div>
<div>
	&nbsp;</div>
<div>
	&ldquo;We need to develop a mechanism to incorporate the private sector where the government mechanism can address concerns put forth by the private players,&rdquo; he said.</div>
<div>
	&nbsp;</div>
<div>
	He expressed concern over the low foreign direct investment (FDI) from India, which is around Rs.40.60 billion at a time when many Indian companies are buying properties and making their fortunes across the globe.</div>
<div>
	&nbsp;</div>
<div>
	&ldquo;There are lots of issues from both sides which need to be discussed... It may be political reasons or may be policy ones or infrastructure,&rdquo; the ambassador said when asked why there was low FDI from India.</div>',
			'published' => true,
			'created' => '2013-12-23',
			'modified' => '2014-01-06',
			'keywords' => 'the corporate weekly from Nepal, nepali corporate events – news – interviews – reviews, nepali corporate focus, nepali corporate status and news, news from nepali corporate industry, corporate happenings – events – news from nepal',
			'description' => 'Indian Ambassador to Nepal Ranjit Rae has said that Nepal and India should work together for the development of hydropower in Nepal. Speaking at a press conference for the first time after assuming office in November, the Indian envoy said such cooperation between Nepal and India would benefit both countries.',
			'sortorder' => '2196',
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	(int) 7 => array(
		'Article' => array(
			'id' => '2324',
			'article_category_id' => '140',
			'title' => 'Weekly Round Up (22 - 28 December 2013)',
			'sub_title' => '',
			'summary' => null,
			'content' => '<div>
	&bull;Nearly Rs 4.84 billion has been spent to hold the second Constituent Assembly election, according to the Election Commission (EC). Organising a press meet on Dec 16, EC Spokesperson Bir Bahadur Rai said that figure was based on a preliminary report. The final details of poll expenditure &nbsp;will be made public after the offices of the Election Officers and District Election Offices send the expenses details. The EC said that a total of Rs 4.75 billion was received under basket fund through the Nepal Peace Trust Fund. Different foreign governments had pledged Rs 3 billion for the CA elections.</div>
<div>
	&nbsp;</div>
<div>
	&bull;<span class="Apple-tab-span" style="white-space:pre"> </span>A team of French investors will be visiting Nepal over the next two months. French ambassador to Nepal, Martine BASSEREAU, during a meeting with Finance Minister Shankar Prasad Koirala on Dec 16, said that the French government will soon begin a study on the operation of cable car in the Kathmandu Valley. He also urged the Nepal government to extend all kinds of cooperation to the French investors, adding that the French government is interested in urban development in Nepal.</div>
<div>
	&nbsp;</div>
<div>
	&bull;<span class="Apple-tab-span" style="white-space:pre"> </span>The government has spent about Rs 120 billion in the first five months of the current fiscal year. This is Rs 38.42 billion more than the capital expenditure made in the same period of the previous fiscal year, according to Bhoomiram Sharma, joint spokesperson for the Ministry of Finance. The government has spent 23 per cent of the total annual budget in the first five months of the current fiscal year, Sharma added.</div>
<div>
	&nbsp;</div>
<div>
	&bull;<span class="Apple-tab-span" style="white-space:pre"> </span>The government is preparing to bring the national budget for fiscal year 2014/15 in the first Nepal month of Baisakh (mid April to mid May). In a budget review organized at the Ministry of Finance (MoF) on Dec 18, Finance Secretary Shanta Raj Subedi also said that the government is also planning to fix the budgetary ceiling for three years. Presently, the National Planning Commission fixes the budget ceiling on an annual basis.</div>
<div>
	&nbsp;</div>
<div>
	&bull;<span class="Apple-tab-span" style="white-space:pre"> </span>Indian Chamber of Commerce (ICC) organized a three-day Exposition and Buyer Seller Meet from 20-22 December at Bhrikuti Mandap. About 60 Indian companies representing electrical equipment and energy sector participated in the event. &nbsp;</div>
<div>
	<span class="Apple-tab-span" style="white-space:pre"> </span>The International Labour Organisation (ILO) and the European Union (EU) are going to launch a new project aimed at promoting the management of labour migration from India, Nepal and Pakistan to the Gulf Cooperation Council (GCC) nations. The project-which has a total budget of about 2.4 million euros will run until May 2016, according to a press release jointly issued by ILO and EU. The new project titled &ldquo;Promoting Effective Governance of Labour Migration from South Asia&rdquo; will contribute to ensure effective protection of the rights of vulnerable migrant workers, enhance the development impact of labour migration and reduce unregulated migration.</div>
<div>
	&nbsp;</div>
<div>
	&bull;<span class="Apple-tab-span" style="white-space:pre"> </span>The Confederation of Nepalese Industries (CNI) organized a workshop under the project &ldquo;Go International Project&rdquo; with support from the European Union (EU) on December 18 in Kathmandu. Inaugurating the programme, Madhav Prasad Regmi, Secretary at the Ministry of Commerce and Supplies (MoCS), appreciated the effort of CNI in implementation of the project which is aimed at the internationalization of Nepalese products. He also expressed his sincere appreciation to EU for their support in trade sector development in Nepal. Delivering his welcome speech, CNI President Narendra Kumar Basnyat emphasized the current scenario of the Nepali economy and trade and expressed his hope that the new government to be formed would work towards economic liberalization, export promotion and &nbsp; creation of favourable investment atmosphere in country. Similarly, Maria Castaldi, Representative of the EU Delegation expressed satisfaction and happiness to support the project &ldquo;Go International&rdquo; and appreciated CNI for leading the project.</div>',
			'published' => true,
			'created' => '2013-12-23',
			'modified' => '2013-12-23',
			'keywords' => 'the corporate weekly from Nepal, nepali corporate events – news – interviews – reviews, nepali corporate focus, nepali corporate status and news, news from nepali corporate industry, corporate happenings – events – news from nepal',
			'description' => 'Nearly Rs 4.84 billion has been spent to hold the second Constituent Assembly election, according to the Election Commission (EC). Organising a press meet on Dec 16, EC Spokesperson Bir Bahadur Rai said that figure was based on a preliminary report. The final details of poll expenditure  will be made public after the offices of the Election Officers and District Election Offices send the expenses details.',
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	(int) 8 => array(
		'Article' => array(
			'id' => '2323',
			'article_category_id' => '140',
			'title' => 'SAARC Should Pressure Gulf Countries To Treat Workers Better',
			'sub_title' => '',
			'summary' => null,
			'content' => '<div>
	&nbsp;</div>
<div>
	<strong>--By TC Correspondent</strong></div>
<div>
	&nbsp;</div>
<div>
	Member states of the South Asian Association for Regional Cooperation (SAARC) should use their collective bargaining power to seek greater protection for their nationals working in the Gulf countries, a US-based rights group said on December 19 which is celebrated globally as the International Migrants&rsquo; Day.&nbsp;</div>
<div>
	&nbsp;</div>
<div>
	In a letter sent to the Secretary General of SAARC, the Human Rights Watch (HRW) said that a SAARC regional protection initiative could significantly enhance the living and working conditions of workers in low-paid sectors from India, Pakistan, Sri Lanka, Nepal and Bangladesh who routinely face violations of international labour standards and human rights law in the six Gulf states.&nbsp;</div>
<div>
	&nbsp;</div>
<div>
	The six Gulf Cooperation Council (GCC) countries are Kuwait, Oman, Qatar, Saudi Arabia, Bahrain and the United Arab Emirates (UAE).</div>
<div>
	&nbsp;</div>
<div>
	&ldquo;The Gulf countries should recognize the crucial role foreign workers play in their economies and take measures to ensure that their rights are fully respected,&rdquo; the letter reads, &ldquo;South Asian governments should join forces to press for reforms to end the terrible abuses against migrant workers that have gone on for far too long.&rdquo;</div>
<div>
	&nbsp;</div>
<div>
	&ldquo;The deaths of hundreds of South Asian workers in Qatar have shone a spotlight on the appalling living and working conditions of low-wage migrant workers in the construction sector. However, abuses in many sectors persist in Bahrain, Kuwait, Saudi Arabia, Oman and the UAE.&rdquo; Migrant workers in these countries typically have their passports confiscated and are forced to work under the highly exploitative kafala system of sponsorship-based employment, which prevents them from leaving employers. SAARC should urge GCC countries to respect non-discrimination and equal treatment of migrant workers and their right to join trade unions and bargain collectively, HRW said.</div>',
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			'description' => 'Member states of the South Asian Association for Regional Cooperation (SAARC) should use their collective bargaining power to seek greater protection for their nationals working in the Gulf countries, a US-based rights group said on December 19 which is celebrated globally as the International Migrants’ Day.',
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	(int) 9 => array(
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			'id' => '2278',
			'article_category_id' => '140',
			'title' => 'Weekly Round Up (9 - 15 December 2013)',
			'sub_title' => '',
			'summary' => null,
			'content' => '<div>
	&bull;Switzerland has agreed to provide a financial assistance of Rs 1.09 billion to Nepal for the implementation of the second phase of the Local Governance and Community Development Program (LGCDP II). Finance Secretary Shanta Raj Subedi and Swiss Ambassador to Nepal, Urs Herren, signed an agreement to this effect on behalf of their respective governments amid a function in the Capital on December 11.The program will be implemented by the Ministry of Federal Affairs and Local Development for two years from July 16, 2013 to July 15, 2017, according to a press statement issued by the Ministry of Finance (MoF). The total cost of LGCDP II is US$ 1362 million out of which US$ 236 Million will be provided by Nepal&rsquo;s development partners including Switzerland.LGCDP II aims to improve local governance for effective service delivery, local development and citizen empowerment through investment in sectors such as Local Government Restructuring, Federal Governance, Fiscal Decentralization, Fiduciary Risk Reduction, Result Based Management, Capacity Development, Social Mobilization, Child Friendly Local Governance, Gender Equality and Social Inclusion, and Livelihood Improvement Schemes. The project covers all the 75 districts, 58 Municipalities and 3,915 Village Development Committees, according to the MoF.</div>
<div>
	&nbsp;</div>
<div>
	&bull;The government will be holding the second round of talks with the Saudi Fund for investment in the 20 MW Budhiganga Hydropower Project. A government team comprising representatives from the finance, energy and law ministries and the Department of Electricity Development (DoED) will head for Saudi Arabia in the third week of December to hold the talks, according to a source at DoED. &ldquo;The Saudi Fund has shown interest to invest in the Budhiganga Project. It has already agreed to provide a soft loan of around USD 20 million and has already forwarded a draft proposal for the same. We will be discussing the same proposal,&rdquo; the source explained. The first round of talks between the two sides was held in Kathmandu a few months back. The source further added that a team of the Saudi Fund will come to Kathmandu &ldquo;soon after&rdquo; the second round of talks to hold the third round of talks. &ldquo;We are supposed to sign the loan agreement during the third round of talks,&rdquo; said the source.</div>
<div>
	&nbsp;</div>
<div>
	&bull;The Commission for the Investigation of Abuse of Authority (CIAA) has collected Rs 49.5 million in fines from those found guilty of corruption and abuse of authority, according the latest annual report of the commission. Chief Commissioner Lokman Singh Karki presented the Commission&rsquo;s 2012/13 report to President Dr Yadav at a function held at the Rastrapati Bhawan on December 9. The report says that the CIAA had received 11,298 complaints in the year, of which 6,672 were resolved. Over 440 cases were registered in the regional administration offices, of which 145 were resolved. The CIAA filed 96 cases, including 16 that carried over from the previous fiscal year, at the Special Court. The Commission won 76 of these cases. In this year&rsquo;s Corruption Perception Index published by Transparency International, Nepal has climbed to the 116th position from 139th in the previous year.</div>
<div>
	&nbsp;</div>
<div>
	&bull;The government on Dec 12 decided to provide a loan of Rs 1.65 billion to the Nepal Oil Corporation (NOC). The Employees&rsquo; Provident Fund (EPF) will provide Rs. 850 million and the Citizens&rsquo; Investment Trust will provide Rs. 800 million, according to Minister for Information and Communications and government spokesperson, Madhav Prasad Poudel. The Government of Nepal will stand guarantee for the loan, Poudel added. The Cabinet meeting also decided to give a green signal to the Ministry of Urban Development to move ahead with the ongoing negotiations with the Asian Development Bank for signing an agreement for a financial aid worth Rs. 2.42 billion for the Melamchi Drinking Water Supply Project.</div>
<div>
	&nbsp;</div>
<div>
	&bull;In the fourth month (Kartik) of the current fiscal year, the year-on-year change in consumer inflation has reached 10 percent, says the latest monthly regular report from Nepal Rastra Bank (NRB). This is 0.5 per cent less than the consumer inflation for the same period of the last fiscal year. The NRB has set the target of keeping the average inflation rate within 8 percent in the current fiscal year. The inflation rate which remained in single digit for three consecutive months of the current fiscal year reached double digit (10 per cent) in the fourth month. According to experts, this is because of excess money supply to the banks for various reasons.</div>',
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			'description' => 'Switzerland has agreed to provide a financial assistance of Rs 1.09 billion to Nepal for the implementation of the second phase of the Local Governance and Community Development Program (LGCDP II). Finance Secretary Shanta Raj Subedi and Swiss Ambassador to Nepal, Urs Herren, signed an agreement to this effect on behalf of their respective governments amid a function in the Capital on December 11.',
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	(int) 10 => array(
		'Article' => array(
			'id' => '2276',
			'article_category_id' => '140',
			'title' => 'Focus On Budget Implementation: FM',
			'sub_title' => '',
			'summary' => null,
			'content' => '<div>
	&nbsp;</div>
<div>
	<strong>--By TC Correspondent</strong></div>
<div>
	&nbsp;</div>
<div>
	Finance Minister Shanker Prasad Koirala has stressed on the need for the implementation of programmes included in the country&rsquo;s annual budget. Speaking at the quarterly review meeting of development projects held on December 12 at the Ministry of Finance, Koirala urged all stakeholders to coordinate with the concerned agency if any problem emerged in development projects prioritised in the national budget. He also said that the programmes included in the budget were the state&rsquo;s commitment.</div>
<div>
	&nbsp;</div>
<div>
	&ldquo;Everything included in the country&rsquo;s annual budget is the state&rsquo;s commitment,&rdquo; he said urging the officials to expedite the development projects that were stalled due to the CA election and festivals. The Comptroller General and top officials of government ministries and departments were present in the review meeting.</div>
<div>
	&nbsp;</div>
<div>
	The finance minister directed the officials present in the meeting to work in coordination with the Nepal Rastra Bank (NRB) by attaching high priority to livestock and crops insurance, micro credit and cold storage programmes. He directed the officials not to fulfill formality by only seeking the progress reports of the development projects. &nbsp;</div>
<div>
	&nbsp;</div>
<div>
	&ldquo;Please expedite the works of the development projects that were stalled due to the festivals and election. I am always there to support you,&rdquo; he assured.</div>
<div>
	&nbsp;</div>
<div>
	Speaking at the meeting, vice-chairperson of the National Planning Commission (NPC) Rabindra Kumar Shakya asked the implementing agencies to end the culture of zero progress of the development programmes. He urged them to present clear reasons for the emergence of such situation. He asked them not to cite the same problem time and again but to explore the reasons behind the malpractice.</div>
<div>
	&nbsp;</div>
<div>
	Similarly, NRB Governor Dr Yubaraj Khatiwada pointed out the need for investment for the commercialization of agriculture in the country. Speaking at the meeting, Finance Secretary Shanta Raj Subedi said that the development expenditure made during the first quarter of the current fiscal year was not satisfactory. He expressed dissatisfaction over the ineffective performance of regulatory bodies such as central bank, securities board and the Insurance Board. Likewise, Finance Comptroller Suman Sharma stressed on the need for effective internal audit for maintaining fiscal discipline.</div>',
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			'keywords' => 'the corporate weekly from Nepal, nepali corporate events – news – interviews – reviews, nepali corporate focus, nepali corporate status and news, news from nepali corporate industry, corporate happenings – events – news from nepal',
			'description' => 'Finance Minister Shanker Prasad Koirala has stressed on the need for the implementation of programmes included in the country’s annual budget. Speaking at the quarterly review meeting of development projects held on December 12 at the Ministry of Finance, Koirala urged all stakeholders to coordinate with the concerned agency if any problem emerged in development projects prioritised in the national budget. He also said that the programmes included in the budget were the state’s commitment.',
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	(int) 11 => array(
		'Article' => array(
			'id' => '2277',
			'article_category_id' => '140',
			'title' => 'Samriddhi Felicitates Entrepreneurs',
			'sub_title' => '',
			'summary' => null,
			'content' => '<div>
	&nbsp;</div>
<div>
	<strong>--By TC Correspondent</strong></div>
<div>
	&nbsp;</div>
<div>
	Samriddhi, the Prosperity Foundation, felicitated eight young entrepreneurs for their outstanding achievements amidst a special function organised in the capital last Thursday (December 12). The felicitation programme which followed a series of other events including seminars and interactions between successful and budding entrepreneurs was the final event to celebrate the Global Entrepreneurship Week (GEW) 2013.</div>
<div>
	&nbsp;</div>
<div>
	&ldquo;The final event is the one that recognizes the efforts and success stories of prominent and upcoming entrepreneurs from different sectors,&rdquo; said a press statement from Samriddhi, &ldquo;These entrepreneurs are thus recognized for creating wealth, jobs and better goods and services that make the lives of hundreds and thousands easier.&rdquo;</div>
<div>
	&nbsp;</div>
<div>
	Samriddhi has been celebrating GEW, which is celebrated globally from November 17 to 23, since 2010. &ldquo;However, given the second Constituent Assembly elections on November 19, the celebrations of GEW in Nepal took place eight days later,&rdquo; the statement said.</div>
<div>
	&nbsp;</div>
<div>
	Renowned social entrepreneur Anil Chitrakar was the key-note speaker of the programme which was moderated by Ranjit Acharya, CEO of Prisma Advertising. &nbsp;&nbsp;</div>
<div>
	&nbsp;</div>
<div>
	<span style="font-size:14px;"><strong>List of the felicitated entrepreneurs</strong></span></div>
<div>
	1.Anil Keshari Shah &ndash; CEO, Mega Bank</div>
<div>
	2.<span class="Apple-tab-span" style="white-space:pre"> </span>Bhubaneshwor Phaiiju &ndash; Proprietor, Tranquility Spa</div>
<div>
	3.<span class="Apple-tab-span" style="white-space:pre"> </span>Bir Bahadur Ghale &ndash; Ashoka Fellow, Microhydro Entrepreneur</div>
<div>
	4.<span class="Apple-tab-span" style="white-space:pre"> </span>Chetan Bhandari &ndash; Chairman, Bajeko Sekuwa</div>
<div>
	5.<span class="Apple-tab-span" style="white-space:pre"> </span>Deependra Tandon &ndash; Director, Advantage Group</div>
<div>
	6.<span class="Apple-tab-span" style="white-space:pre"> </span>Khadananda Shiwakoti &ndash; Owner, Siwakoti Bags</div>
<div>
	7.<span class="Apple-tab-span" style="white-space:pre"> </span>Swapnil Acharya &ndash; Director, Expressive Studios</div>
<div>
	8.<span class="Apple-tab-span" style="white-space:pre"> </span>Ujjwal Chapagain &ndash; Managing Director, The Himalayan Rabbit Farm &nbsp;&nbsp;</div>',
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			'keywords' => 'the corporate weekly from Nepal, nepali corporate events – news – interviews – reviews, nepali corporate focus, nepali corporate status and news, news from nepali corporate industry, corporate happenings – events – news from nepal',
			'description' => 'Samriddhi, the Prosperity Foundation, felicitated eight young entrepreneurs for their outstanding achievements amidst a special function organised in the capital last Thursday (December 12). The felicitation programme which followed a series of other events including seminars and interactions between successful and budding entrepreneurs was the final event to celebrate the Global Entrepreneurship Week (GEW) 2013.',
			'sortorder' => '2120',
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	(int) 12 => array(
		'Article' => array(
			'id' => '2237',
			'article_category_id' => '140',
			'title' => 'Nepal Political News In Brief (9 - 15 December 2013)',
			'sub_title' => '',
			'summary' => null,
			'content' => '<div>
	<span style="font-size:14px;"><strong>Singh Sings Consensus Tune</strong></span></div>
<div>
	Nepali Congress general secretary Prakashman Singh said drafting a new constitution on the basis of consensus was the need of the hour. Speaking at a programme in capital last Saturday, newly-elected Constituent Assembly (CA) member Singh said his party would take initiative for drafting a new constitution by taking all the political parties represented there into confidence. The matters of government formation and about the President cropped up in the present should be seriously dealt with as they could fuel people&rsquo;s frustrations, he said. Underlining the need of ending long-standing political transition as soon as possible, leader Singh assured of understanding between the Congress and CPN (UML) to settle the contentious issues.</div>
<div>
	&nbsp;</div>
<div>
	<span style="font-size:14px;"><strong>Secy Baskota Monitors Road Expansion Works</strong></span></div>
<div>
	Secretary at the Office of the Prime Minister and Council of Ministers, Krishna Hari Baskota, has directed the concerned sectors to expedite the works under the road expansion campaign in the Kathmandu Valley. Secretary Baskota, who is also the coordinator of road expansion high level monitoring committee, monitored the expansion works and directed the concerned sectors to complete the road expansion very quickly.&rdquo;If the contractors are lackadaisical, they must be made aware of it, and if it does not work, the contract can be scrapped,&rdquo; he warned the contractors.&nbsp;</div>
<div>
	&nbsp;</div>
<div>
	<span style="font-size:14px;"><strong>Gajurel&rsquo;s Nay to Unity with UCPN (Maoist)</strong></span></div>
<div>
	CPN-Maoist vice-chairman CP Gajurel has said there was no possibility of party&rsquo;s unification with the UCPN-Maoist. &ldquo;There was no meaning in forging alliance with the UCPN-Maoist, from which we walked away last year,&rdquo; he said, adding that the UCPN-Maoist was an opportunist party. Speaking at an interaction programme organised in capital last Saturday, Vice-Chairman Gajurel &nbsp;accused the leaders of the UCPN (Maoist) of harbouring opportunistic character. However, he said if it agreed in roundtable conference, the CPN-Maoist would talk of unity with this party.</div>
<div>
	&nbsp;</div>
<div>
	<span style="font-size:14px;"><strong>Gachhadar Bats for Congress-led Govt</strong></span></div>
<div>
	Madhesi Janadhikar Forum- Democratic chairman Bijay Kumar Gachhadar has said that his party would support the government under the leadership of Nepali Congress (NC). During the meeting with NC president Sushil Koirala held at his residence in Maharajgunj last Friday, Gachchhadar said that his party was committed to democracy and would support the government under the NC-led government. During the meeting the two leaders discussed about forging political consensus to form the government, to call the first meeting of the Constituent Assembly (CA) and Legislature-Parliament, and constitution writing among other contemporary issues.&nbsp;</div>
<div>
	&nbsp;</div>
<div>
	<span style="font-size:14px;"><strong>CA Court Summons Dahal</strong></span></div>
<div>
	Constituent Assembly court issued an order last Friday summoning UCPN (Maoist) chairman Pushpa Kamal Dahal, winner from &nbsp;Siraha constituency no. 5, to appear in the court within 10 days. A divisional bench of CA Court Chairperson Kalyan Shrestha and member duo, Girish Chandra Lal and Sushila Karki issued the directive to UCPN (Maoist) Chairperson Dahal and election officer of Siraha constituency no. 5 Uddhav Bhattarai, among others. CPN-UML candidate from the constituency Leelanath Shrestha had demanded re-polling alleging election rigging by the cadres of Chairperson Dahal.</div>',
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			'keywords' => 'the corporate weekly from Nepal, nepali corporate events – news – interviews – reviews, nepali corporate focus, nepali corporate status and news, news from nepali corporate industry, corporate happenings – events – news from nepal',
			'description' => 'Nepali Congress general secretary Prakashman Singh said drafting a new constitution on the basis of consensus was the need of the hour.',
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		'Article' => array(
			'id' => '2236',
			'article_category_id' => '140',
			'title' => 'Weekly Round Up (2 - 8 December 2013)',
			'sub_title' => '',
			'summary' => null,
			'content' => '<div>
	&bull;The European Union (EU) imposed a blanket ban on all airlines from Nepal last Thursday from flying into the 28-nation bloc under the latest changes to its list of unsafe carriers. The European Commission updated for the 22nd time the European list of airlines subject to an operating ban or operational restrictions within the EU, better known as &ldquo;the EU air safety list.&rdquo; &nbsp;&ldquo;On the basis of safety information from various sources and a hearing both with Nepalis aviation authorities as well as with a number of Nepalese carriers, the Commission decided to put all airlines from Nepal on the EU air safety list,&rdquo; the EU said. As a consequence of the ban on Nepalis carriers, they are prevented from flying into or within the Union. This ban is not only a major setback to Nepal&rsquo;s tourism industry, but to the country as a whole. Although none of the Nepali carriers make flight to the 28-nation bloc, the consequences could be seen in the tourism and economy from the travel alert on European travellers to not use Nepali carriers. &nbsp;</div>
<div>
	&nbsp;</div>
<div>
	&nbsp;</div>
<div>
	&bull;Ninth WTO Ministerial Conference has concluded at Bali adopting a five-draft decision declaration and the 10-document full Bali Package that addresses the Doha Development Agenda. The last-minute deal would lower trade barriers and speed up the passage of goods through customs. Analysts estimate that over time it could boost the world economy by hundreds of billions of dollars and create more than 20 million jobs, mostly in developing countries. As a coordinator of the Consultative Group of the LDCs at the ongoing WTO conference in Bali, Indonesia, Nepal has raised its voice to demand a larger space in international trade for LDCs. Also, with the country itself facing barriers aplenty in international trade and a skyrocketing trade deficit, Nepal tried voice its concerns on existing multi-lateral and bilateral trade issues. Though developed countries have pledged Duty-Free-Quota-Free (DFQF) market access to 97 percent of the goods originating from LDCs as per Hong Kong Ministerial Conference in 2005, only around 80- 91 percent of the goods are enjoying such facility. Nepal has been getting this facility for 81 percent of its exports &nbsp;to developed countires while some other African LDCs have been enjoying this for 91 percent of their total exports to developed countries under the DFQF.&nbsp;</div>
<div>
	&nbsp;</div>
<div>
	&bull;The government has collected Rs 94.32 billion revenue in the first quarter of the current fiscal year. The amount is Rs 140 million higher than the target. The government had collected Rs 78.3 billion revenue in the corresponding period of the last fiscal year. The collected revenue is 20.87 per cent higher compared to the amount of the corresponding period of the last fiscal year.&nbsp;</div>
<div>
	&nbsp;</div>
<div>
	&bull;Nepal Electricity Authority (NEA) has begun buying an additional 30 MW of power from India in a bid to ease the chronic power shortage in the country during winter. The Power Trading Corporation of India has sold the power to Nepal at a rate of Rs.3.75 (NRs.6) per unit. The additional power import takes Nepal&rsquo;s total import from India to 165 MW. Nepal has been requesting India to provide at least 250 MW to meet its increasing power deficit. The NEA is aiming to bring down load-shedding to 12 hours this winter by getting more power from India. Currently, there is a shortfall of 350 MW to meet the requirements as existing capacity is just around 700 MW.Measures are being taken to reduce power demand, including operating some multi-fuel plants and revamping existing power plants. Officials say Nepal pays around Rs.22 billion every year for procuring power from India, which includes importing inverters and diesel generators.</div>',
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			'keywords' => 'the corporate weekly from Nepal, nepali corporate events – news – interviews – reviews, nepali corporate focus, nepali corporate status and news, news from nepali corporate industry, corporate happenings – events – news from nepal',
			'description' => 'The European Union (EU) imposed a blanket ban on all airlines from Nepal last Thursday from flying into the 28-nation bloc under the latest changes to its list of unsafe carriers. The European Commission updated for the 22nd time the European list of airlines subject to an operating ban or operational restrictions within the EU, better known as “the EU air safety list.”',
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	(int) 14 => array(
		'Article' => array(
			'id' => '2235',
			'article_category_id' => '140',
			'title' => 'NC, UML Sign Three-point Deal',
			'sub_title' => '',
			'summary' => null,
			'content' => '<div>
	Nepali Congress (NC) and CPN (UML) have signed a three-point pact last Saturday. The two parties have agreed to move ahead together with mutual understanding and collaboration to complete the political responsibility.&nbsp;</div>
<div>
	&nbsp;</div>
<div>
	They have also reached an understanding to immediately hold dialogue with UCPN (Maoist) as well as its breakaway faction of the CPN-Maoist.&nbsp;</div>
<div>
	&nbsp;</div>
<div>
	NC President Sushil Koirala and UML Chairperson Jhalanath Khanal signed the three-point deal that includes a commitment to move ahead together on mutual understanding. The leaders of the two parties have agreed on an agreement following a hectic dialogue at Peace Fund Secretariat in Babarmahal, Kathmandu.</div>
<div>
	&nbsp;</div>
<div>
	The two parties also expressed thanks to all sides concerned for the successful holding of free, fair and impartial CA election on November 19.</div>',
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			'keywords' => 'the corporate weekly from Nepal, nepali corporate events – news – interviews – reviews, nepali corporate focus, nepali corporate status and news, news from nepali corporate industry, corporate happenings – events – news from nepal',
			'description' => 'Nepali Congress (NC) and CPN (UML) have signed a three-point pact last Saturday. The two parties have agreed to move ahead together with mutual understanding and collaboration to complete the political responsibility.',
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