Inland Revenue Department Extends Tax Filing Deadline Till July 9

Jun 17, 2021 0 1 minutes 26 seconds to read

The Inland Revenue Department has extended the deadline for filing tax details and taxes due to prohibitory orders imposed to curb the spread of…

HAN Asks Govt Not to Implement New Minimum Wage in Hotel Industry

Jun 17, 2021 0 1 minutes 4 seconds to read

Hotel Association of Nepal (HAN) has urged the government not to implement the new minimum salary in the hotel…

World Bank Approves $150 Million Credit for Nepal to Support Pandemic Recovery

Jun 17, 2021 0 1 minutes 13 seconds to read

The World Bank is providing Nepal $150 million in development policy credit to support the recovery from the…

Heavy Rainfall in Forecast for Three More Days

Jun 16, 2021 0 2 minutes 17 seconds to read

June 16: Heavy rainfall has been predicted in most parts of the country for three more days, the state-owned national news agency RSS reported citing the Meteorological Forecasting…

Three Killed, 11 go Missing in Floods, Landslides Across the Country

Jun 16, 2021 0 1 minutes 40 seconds to read

June 16: Three persons have lost their lives and 11 others have gone missing in different parts of the country due to flood and landslide following incessant rainfall for the past few days.…

Seven Provinces Introduce Budget for the Upcoming Fiscal Year

Jun 16, 2021 0 5 minutes 25 seconds to read

…

Shipping Cost of Nepali Importers up due to Covid-19

Jun 16, 2021 0 3 minutes 46 seconds to read

June 16: The shipping cost of importing goods to Nepal from overseas has increased as the transportation chain has been affected by the coronavirus…

Remittance Inflow Increases, Current Account Remains at a Deficit of Rs 247 Billion

Jun 15, 2021 0 3 minutes 32 seconds to read

June 15: The country has received Rs 809.89 billion in remittance in the first ten months of fiscal year (FY 2020/21), according to the Nepal Rastra Bank (NRB).…

Easing of Prohibitory Order Brings both Hope and Worries Among Business Community

Jun 15, 2021 0 3 minutes 45 seconds to read

June 15: The private sector is expecting the industries and businesses along the Bara-Parsa corridor to gain momentum after the government eased prohibitory order after 75…

Businessmen Close Down Shops Permanently as Prohibitory Order gets Extended

Jun 15, 2021 0 2 minutes 43 seconds to read

June 15: With the extension of prohibitory order imposed to control coronavirus pandemic, businessmen have started shutting down their shops permanently.…

‘Proposal to Graduate Nepal from LDC status to be Presented for Endorsement'

Jun 15, 2021 0 1 minutes 55 seconds to read

June 15: Nepal has met the minimum required criteria to graduate to the status of developing country with mid-level income from the category of Least Developed Country…

Private Sector to Construct 5 Hydropower Projects through BOT Model

Jun 15, 2021 0 2 minutes 35 seconds to read

June 15: The government has decided to allow the private sector to build, operate and transfer five different hydropower projects through open…

Supply of Petroleum Products Obstructed

Jun 15, 2021 0 55 seconds to read

June 15: The Petroleum Tanker Drivers’ Association has halted the supply of…

Readymade Goods worth Rs 1 Billion Stuck in Warehouses due to Suspension of Export

Jun 14, 2021 0 4 minutes 4 seconds to read

June 14: Readymade garments worth Rs 1 billion have been stuck in the country due to the suspension of export activity.…

Construction Entrepreneurs Demand vaccination for Workers in the Forefront of Development Works

Jun 14, 2021 0 1 minutes 23 seconds to read

June 14: The Federation of Contractors Association of Nepal (FCAN) has requested the government to provide vaccine against COVID-19 to the workers and laborers as well as construction entrepreneurs who are working at the forefront of development…

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NEPSE

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			'id' => '13546',
			'article_category_id' => '1',
			'title' => 'Inland Revenue Department Extends Tax Filing Deadline Till July 9',
			'sub_title' => '',
			'summary' => 'The Inland Revenue Department has extended the deadline for filing tax details and taxes due to prohibitory orders imposed to curb the spread of coronavirus.',
			'content' => '<p>June 17: The Inland Revenue Department has extended the deadline for filing tax details and taxes due to prohibitory orders imposed to curb the spread of coronavirus.&nbsp;<br />
The decision to extend the tax filing deadline by two months has given protection to businesses from the penalty for delaying filing tax returns.</p>

<p>Issuing a notice on Wednesday, the IRD said that it has extended the deadline to file details of value-added tax (VAT) and taxes based on those monthly and bimonthly details of previous two months&mdash;Chaitra and Baisakh (mid March to mid April and mid April to mid May)&mdash;till July 9.</p>

<p>Similarly, income taxpayers who file tax deducted&nbsp;at&nbsp;source&nbsp;(TDS) will now have to file details of the TDS and the taxes based on those details by July 9.<br />
According to the IRD, businesses can now file excise duty for the month of Chaitra (mid March to mid April) and Baisakh (mid April to mid May) by July 9.<br />
Other revenues like health, education and telecommunication tax filing deadline has been extended till July 9.</p>

<p>The IRD has extended the deadline for the tax filing in line with the request from the private sector. Though a recent order of the Supreme Court had paved the way for the government to collect taxes even during the lockdown, the IRD decided to extend the deadline for tax filing, citing difficulties for taxpayers due to prohibitory orders in various parts of the country to contain the second wave of coronavirus.</p>

<p>The Supreme Court on June 15 vacated its previous order of&nbsp;restricting the&nbsp;government from collecting taxes during the lockdown.<br />
&nbsp;<br />
&nbsp;</p>
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			'article_category_id' => '1',
			'title' => 'HAN Asks Govt Not to Implement New Minimum Wage in Hotel Industry ',
			'sub_title' => '',
			'summary' => 'Hotel Association of Nepal (HAN) has urged the government not to implement the new minimum salary in the hotel industry. ',
			'content' => '<p>June 16: Hotel Association of Nepal (HAN) has urged the government&nbsp;not to implement the new minimum salary in the hotel industry.&nbsp;</p>

<p>Meeting the newly appointed Minister for Labour, Employment and Social Security Bimal Prasad Shrivastav on Wednesday, HAN President Shreejana Rana and First Vice President Binayak Shah said that the hotel industry, which has been battered by the Covid-19, is not in position to implement the new minimum salary as fixed by the government recently.</p>

<p>Earlier in May, the government had published the notice of revised minimum monthly salary for workers in Nepal Gazette. The minimum salary was raised to Rs 15,000 per month from Rs 13,450. &nbsp;</p>

<p>&ldquo;At a time when hotels are not able to pay salaries to their employees as per the present scale , the hotel industry is not in the position to implement the new minimum wage. So, this should not be implemented in the hotel industry,&rdquo; read the statement of the HAN issued after the meeting.&nbsp;</p>

<p>According to the statement, the HAN also asked the government to treat the hotel industry as a highly affected sector from the Covid-19 and provide additional support and facilities to attract them toward the Social Security Fund (SSF).&nbsp;</p>
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			'article_date' => '2021-06-17 11:38:14',
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			'id' => '13544',
			'article_category_id' => '1',
			'title' => 'World Bank Approves $150 Million Credit for Nepal to Support Pandemic Recovery',
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			'summary' => 'The World Bank is providing Nepal $150 million in development policy credit to support the recovery from the Covid-19. ',
			'content' => '<p>June 17:&nbsp;The World Bank is providing Nepal $150 million in development policy credit to support recovery from the Covid-19.&nbsp;</p>

<p>Issuing a statement, the World Bank said that its Board of Executive Directors today approved a $150 million development policy credit to support Nepal&rsquo;s resilient recovery from the COVID-19 pandemic, protect the most vulnerable, and support sustainable growth.</p>

<p>&ldquo;Amid the economic and social impacts of the pandemic, our priority is to provide immediate relief to affected populations and support Nepal&rsquo;s green, resilient, and inclusive recovery,&rdquo; the statement quoted Faris Hadad-Zervos, World Bank Country Director for Maldives, Nepal, and Sri Lanka, as saying. &nbsp;</p>

<p>The Nepal Programmatic Fiscal Policy for Growth, Recovery and Resilience will help strengthen Nepal&rsquo;s institutions and regulations, including its tax and customs system, debt management, and public capital spending, according to the statement. It will also support the immediate health response and help modernize social protection programs, build access to capital and digital solutions for the private sector, and lay a regulatory foundation for a green recovery, read the statement.&nbsp;</p>

<p>&ldquo;This development policy credit supports the government of Nepal&rsquo;s efforts to address the social and economic impacts of COVID-19 and overcome structural constraints to a resilient economic recovery,&rdquo; stated Kene Ezemenari, Senior Economist and the World Bank&rsquo;s Task Team Leader for the program.&nbsp;<br />
&nbsp;</p>
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			'id' => '13543',
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			'title' => ' Heavy Rainfall in Forecast for Three More Days ',
			'sub_title' => '',
			'summary' => 'June 16: Heavy rainfall has been predicted in most parts of the country for three more days, the state-owned national news agency RSS reported citing the Meteorological Forecasting Division.',
			'content' => '<p><span style="font-size:11pt"><span style="font-family:Cambria"><span style="font-family:&quot;Arial Unicode MS&quot;">June 16: Heavy rainfall has been predicted in most parts of the country for three more days, the state-owned national news agency RSS reported citing the Meteorological Forecasting Division. The division has warned of risk of floods and landslides at some places due to the heavy rainfall.&nbsp;&nbsp;&nbsp;&nbsp; </span><br />
<span style="font-family:&quot;Arial Unicode MS&quot;">Meteorologist at the division, Manju Basi, informed that rainfall is taking place throughout the country at present as the monsoon wind is active. There is possibility of occurrence of heavy rainfall in most parts of the country until Saturday due to the influence of this wind. There will be a break in this trend after Saturday, RSS further reported.&nbsp;&nbsp;&nbsp;&nbsp; </span><br />
<span style="font-family:&quot;Arial Unicode MS&quot;">According to the division, light to moderate rainfall is taking place in most of the places of Gandaki and Lumbini provinces and at a few places in the remaining provinces. </span></span></span></p>

<p><span style="font-size:11pt"><span style="font-family:Cambria"><span style="font-family:&quot;Arial Unicode MS&quot;">Heavy rainfall is in forecast in Karnali and Bagmati provinces and very heavy rainfall is likely to occur in some places of Lumbini and Gandaki provinces throughout the day as well as tonight (June 16).&nbsp;&nbsp;&nbsp;&nbsp; </span><br />
<span style="font-family:&quot;Arial Unicode MS&quot;">The division has warned of the possibility of floods and landslides in these areas.&nbsp;&nbsp;&nbsp;&nbsp; </span><br />
<span style="font-family:&quot;Arial Unicode MS&quot;">&quot;There are chances of occurrence of heavy rainfall at some areas and heavy rainfall at few places of Karnali, Gandaki, Lumbini and Bagmati provinces. So, there is risk of landslide and mudslide in the hilly region of these provinces. The water level in the rivers and rivulets might rise and the transport services might get affected due to this. Adoption of necessary precaution and alertness is advised,&quot; the Division stated in its latest weather bulletin.&nbsp;&nbsp;&nbsp;&nbsp; </span><br />
<span style="font-family:&quot;Arial Unicode MS&quot;">As per the division&#39;s regular bulletin, this trend of rainfall will continue throughout the country till Friday. </span></span></span></p>

<p><span style="font-size:11pt"><span style="font-family:Cambria"><span style="font-family:&quot;Arial Unicode MS&quot;">As of Wednesday evening, Pokhara has received the highest rainfall in the country within the last 24 hours. It received 110.5 millilitres of rainfall, followed by Bhairahawa with 82.2 millilitres rainfall. Kathmandu received only 12.4 millilitres rainfall in the last 24 hours, according to RSS.&nbsp;&nbsp;&nbsp;&nbsp; &nbsp;&nbsp;</span></span></span></p>
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			'id' => '13542',
			'article_category_id' => '1',
			'title' => 'Three Killed, 11 go Missing in Floods, Landslides Across the Country',
			'sub_title' => '',
			'summary' => 'June 16: Three persons have lost their lives and 11 others have gone missing in different parts of the country due to flood and landslide following incessant rainfall for the past few days.    ',
			'content' => '<p><span style="font-size:11pt"><span style="font-family:Cambria"><span style="font-family:&quot;Arial Unicode MS&quot;">June 16: Three persons have lost their lives and 11 others have gone missing in different parts of the country due to flood and landslide following incessant rainfall for the past few days.&nbsp;&nbsp;&nbsp;&nbsp; </span><br />
<span style="font-family:&quot;Arial Unicode MS&quot;">According to the National Emergency Operation Centre of the Home Ministry, seven persons sustained injuries in the disaster. Chief of the Centre Dil Kumar Tamang said that one person died in Bajura, Palpa and Sindhupalchowk districts each while seven went missing in Sindhupalchowk.&nbsp;&nbsp;&nbsp;&nbsp; </span><br />
<span style="font-family:&quot;Arial Unicode MS&quot;">Sindhupalchowk district recorded a huge loss of lives and property due to landslide last year too. Tamang said that some people have also gone missing in Salyan, Bajura, Gorkha and Jajarkot districts.&nbsp;&nbsp;&nbsp;&nbsp; </span><br />
<span style="font-family:&quot;Arial Unicode MS&quot;">Task of collecting other details is underway, according to the Centre. Tamang added that arrangement is being made to rescue those trapped in flood and landslide, to distribute relief materials to victims and to shift them to safer places.&nbsp;&nbsp;&nbsp;&nbsp; </span><br />
<span style="font-family:&quot;Arial Unicode MS&quot;">He shared that 26 people have been rescued using Nepal Army&rsquo;s chopper from Melamchi area this morning (June 16) and a truck of relief materials has been sent to the area from Kathmandu.&nbsp;&nbsp;&nbsp;&nbsp; </span><br />
<span style="font-family:&quot;Arial Unicode MS&quot;">According to the Home Ministry, preparation has been made to send relief materials to Manang from helicopter. Five hundred people have been evacuated and moved to safer places in Manang.&nbsp;&nbsp;&nbsp;&nbsp; </span><br />
<span style="font-family:&quot;Arial Unicode MS&quot;">It has been predicted that this rainy season might witness more rainfall than average. -- RSS&nbsp;&nbsp; </span></span></span></p>
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		'Article' => array(
			'id' => '13541',
			'article_category_id' => '1',
			'title' => 'Seven Provinces Introduce Budget for the Upcoming Fiscal Year',
			'sub_title' => '',
			'summary' => '',
			'content' => '<p><span style="font-size:12pt"><span style="font-family:Cambria"><span style="font-size:16px"><span style="font-family:Times">June 16: </span></span><span style="font-size:11.0pt"><span style="font-family:Arial">All the seven provinces have introduced the budget for the upcoming fiscal year (FY 2021/22) in line with the constitutional provision. The size of the budget of Bagmati Province is the biggest among all the provinces while Gandaki Province has presented a relatively small-sized budget.</span></span></span></span></p>

<p><span style="font-size:12pt"><span style="font-family:Cambria"><span style="font-size:11.0pt"><span style="font-family:Arial">The budgets introduced by all the seven provinces have prioritized prevention and control of COVID-19 and given continuity to old programmes of infrastructure development. Some states have allocated budgets for health infrastructure by scrapping programmes previously brought by the center to please the lawmakers, while others have continued similar programmes for the upcoming year.</span></span></span></span></p>

<p><span style="font-size:12pt"><span style="font-family:Cambria"><span style="font-size:11.0pt"><span style="font-family:Arial">The Bagmati Province has brought a budget of Rs 57.72 billion for the upcoming fiscal year, which is more than the current fiscal year&rsquo;s budget by Rs 6 billion. It has scrapped the parliamentary constituency infrastructure development programme.</span></span></span></span></p>

<p><span style="font-size:12pt"><span style="font-family:Cambria"><span style="font-size:11.0pt"><span style="font-family:Arial">The Bagmati Province government had been allocating about Rs 2.5 billion for the directly elected state assembly members as well as those elected under the proportional representation quota of each constituency under the heading of the infrastructure development programme. Kailash Prasad Dhungel, Minister for Economic Affairs and Planning, informed that the government has canceled the infrastructure development programme for the upcoming fiscal year and allocated the budget instead for the health sector.</span></span></span></span></p>

<p><span style="font-size:12pt"><span style="font-family:Cambria"><span style="font-size:11.0pt"><span style="font-family:Arial">It has allocated Rs 32.46 billion budget for the health sector. The budget has set aside more funds for recurrent expenses than the capital expenditure. Bijay Kumar Yadav, Minister for Economic Affairs and Planning of Province 2, has allocated Rs 33.79 billion for the upcoming fiscal year. </span></span></span></span></p>

<p><span style="font-size:12pt"><span style="font-family:Cambria"><span style="font-size:11.0pt"><span style="font-family:Arial">The budget focuses on COVID-19 control and treatment, road construction, irrigation, employment and education. Most of the big old plans have been given continuity.</span></span></span></span></p>

<p><span style="font-size:12pt"><span style="font-family:Cambria"><span style="font-size:11.0pt"><span style="font-family:Arial">Gandaki Province has reduced the size of the budget compared to last year. The province has brought a budget of Rs 30.03 billion. In the budget presented by Chief Minister Krishna Chandra Pokhrel Nepali, the state government has announced to provide Rs 5,000 as monthly relief to those who have lost their parents to COVID -19. Similarly, families who have lost their members to COVID-19 will be provided a relief package of Rs 50,000 each.&nbsp;</span></span></span></span></p>

<p><span style="font-size:12pt"><span style="font-family:Cambria"><span style="font-size:11.0pt"><span style="font-family:Arial">Lumbini Province has introduced a budget of Rs 40.95 billion for the upcoming fiscal year. The budget has provided 33 percent annual tax exemption to public transport entrepreneurs. The budget has also made an arrangement that no penalty will be fined if the tax is paid within three months of the Fiscal Year 2021/22.&nbsp; It has allocated a huge amount of budget in the field of agriculture and health.&nbsp;</span></span></span></span></p>

<p><span style="font-size:12pt"><span style="font-family:Cambria"><span style="font-size:11.0pt"><span style="font-family:Arial">The Karnali Province government has also introduced a budget emphasizing on the health sector and infrastructure programmes. The budget brought by Gopal Sharma, Minister for Economic Affairs and Planning, is more focused on improving the lives of the citizens by improving the health sector.</span></span></span></span></p>

<p><span style="font-size:12pt"><span style="font-family:Cambria"><span style="font-size:11.0pt"><span style="font-family:Arial">It has allocated Rs 535 million for the prevention of COVID-19 pandemic and funds have been allocated to purchase vaccines for every citizen of the province. The budget has provision to provide free education to the children of the martyrs&rsquo; family. The government has decided to run a model school in each local unit for the development of the education sector. A budget of Rs 395 million has been allocated for this programme.</span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:11.0pt"><span style="font-family:Arial">The Far Western Province Government has brought a budget of Rs 30.33 billion for the upcoming fiscal year. The budget presented by Prakash Bahadur Shah, Minister for Economic Affairs and Planning, is less by Rs 3.5 billion than the current budget.&nbsp; It has reduced current expenditure by Rs 4 billion and the capital expenditure has been increased by about Rs 1 billion.</span></span></span></span></p>

<p><span style="font-size:12pt"><span style="font-family:Cambria"><span style="font-size:11.0pt"><span style="font-family:Arial">Shah said that the budget has prioritized the improvement and expansion of health services and construction of infrastructure. A budget of Rs 2.48 billion has been allocated for infrastructure development.</span></span></span></span></p>

<p><span style="font-size:12pt"><span style="font-family:Cambria"><span style="font-size:11.0pt"><span style="font-family:Arial">Similarly, a budget of Rs 5.12 billion has been allocated for the construction of roads, major infrastructure and mega projects for the upcoming year. The state will provide free medical treatment to the families of the injured and martyrs of the people&#39;s movement and armed conflict. </span></span></span></span></p>

<p><span style="font-size:12pt"><span style="font-family:Cambria"><span style="font-size:11.0pt"><span style="font-family:Arial">Likewise, a budget of Rs 100 million has been allocated to make the families of conflict victims self-reliant.</span></span></span></span></p>

<p><span style="font-size:12pt"><span style="font-family:Cambria"><span style="font-size:11.0pt"><span style="font-family:Arial">And Rs 960 million has been allocated for the infrastructure development programme. In the Far-western Province, there are 32 state assembly members under a direct poll system.&nbsp; The province government has allocated Rs 30 million to each member of the state assembly.&nbsp; Meanwhile similar kind of programme has already been scrapped by the central government.</span></span></span></span></p>

<p>&nbsp;</p>

<p>&nbsp;</p>
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		'Article' => array(
			'id' => '13540',
			'article_category_id' => '1',
			'title' => 'Shipping Cost of Nepali Importers up due to Covid-19',
			'sub_title' => '',
			'summary' => 'June 16: The shipping cost of importing goods to Nepal from overseas has increased as the transportation chain has been affected by the coronavirus pandemic.',
			'content' => '<p><span style="font-size:12pt"><span style="font-family:Cambria"><span style="font-family:&quot;Times New Roman&quot;">June 16: The shipping cost of importing goods to Nepal from overseas has increased as the transportation chain has been affected by the coronavirus pandemic.</span></span></span></p>

<p><span style="font-size:12pt"><span style="font-family:Cambria"><span style="font-family:&quot;Times New Roman&quot;">Shipping companies have increased fares by three to five times due to the shortage of containers in addition to heavy traffic jams at the port. Importer Ashish Lath, who is also the secretary of Birgunj Chamber of Commerce and Industry, said that most of the shipping companies have increased the fares sharply depending on the destination of the goods.</span></span></span></p>

<p><span style="font-size:12pt"><span style="font-family:Cambria"><span style="font-family:&quot;Times New Roman&quot;">He informed that they have to pay USD 3,800 per container to import goods from Chinese port to the dry port of Birgunj. &ldquo;Before the pandemic, the fare was up to $2,000. Even a month ago, the goods had arrived at $2,900,&rdquo; he told New Business Age.</span></span></span></p>

<p><span style="font-size:12pt"><span style="font-family:Cambria"><span style="font-family:&quot;Times New Roman&quot;">The shipping companies have increased fares following last year&#39;s lockdown. However, the train fare from Indian ports to Nepal remains the same.</span></span></span></p>

<p><span style="font-size:12pt"><span style="font-family:Cambria"><span style="font-family:&quot;Times New Roman&quot;">The train fare from the Indian port to Birgunj is around $1,000 per container. According to the importers, the shipping cost of containers imported from China has increased three times.</span></span></span></p>

<p><span style="font-size:12pt"><span style="font-family:Cambria"><span style="font-family:&quot;Times New Roman&quot;">Businessman Om Prakash More says that the transportation fare for goods imported from Europe and America is increasing every week.</span></span></span></p>

<p><span style="font-size:12pt"><span style="font-family:Cambria"><span style="font-family:&quot;Times New Roman&quot;">Importers say that the fare for containers imported from those countries has increased five times now. </span></span></span></p>

<p><span style="font-size:12pt"><span style="font-family:Cambria"><span style="font-family:&quot;Times New Roman&quot;">Naresh Agrawal, vice-president of the Nepal Freight Forwarders Association, said that the shipping companies are charging congestion fare due to the congestion of containers at the sea port.</span></span></span></p>

<p><span style="font-size:12pt"><span style="font-family:Cambria"><span style="font-family:&quot;Times New Roman&quot;">According to Sushant Chachan, joint secretary of the Birgunj Chamber of Commerce and Industry, the shipping companies charge them up to US$ 200 to 300 per container for importing goods from Southeast Asian countries.</span></span></span></p>

<p><span style="font-size:12pt"><span style="font-family:Cambria"><span style="font-family:&quot;Times New Roman&quot;">Importer Chachan informed that the shipment cost from Myanmar to Birgunj has doubled now. </span></span></span></p>

<p><span style="font-size:12pt"><span style="font-family:Cambria"><span style="font-family:&quot;Times New Roman&quot;">He says that the fare from South America to Kolkata port has increased to $400 per container. Ashok Kumar Temani, coordinator of Road Transport and Transit Committee of FNCCI Province 2, says that the shipping companies are increasing fares in an arbitrary manner.</span></span></span></p>

<p><span style="font-size:12pt"><span style="font-family:Cambria"><span style="font-family:&quot;Times New Roman&quot;">&ldquo;Containers are hard to find during the pandemic and lockdown. Some shipping lines have created artificial shortages,&rdquo; says Temani.</span></span></span></p>

<p><span style="font-size:12pt"><span style="font-family:Cambria"><span style="font-family:&quot;Times New Roman&quot;">Just a month ago, the Nepali Consulate in Kolkata, India had publicly urged the importers not to do business with the two shipping companies that are harassing the importers. The Consulate had to issue a notice not to transport containers through River Edge Shipping Pvt. Ltd and Regal Container Line.</span></span></span></p>

<p><span style="font-size:12pt"><span style="font-family:Cambria"><span style="font-family:&quot;Times New Roman&quot;">The Consulate said that the contact person of the company had repeatedly demanded additional charges from the importers and increased the fine.</span></span></span></p>

<p><span style="font-size:12pt"><span style="font-family:Cambria">&nbsp;</span></span></p>

<p><span style="font-size:12pt"><span style="font-family:Cambria">&nbsp;</span></span></p>

<p>&nbsp;</p>

<p>&nbsp;</p>
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		'Article' => array(
			'id' => '13539',
			'article_category_id' => '1',
			'title' => 'Remittance Inflow Increases, Current Account Remains at a Deficit of Rs 247 Billion',
			'sub_title' => '',
			'summary' => 'June 15: The country has received Rs 809.89 billion in remittance in the first ten months of fiscal year (FY 2020/21), according to the Nepal Rastra Bank (NRB).  ',
			'content' => '<p><span style="font-size:11pt"><span style="font-family:Cambria"><span style="font-size:12.0pt"><span style="font-family:Arial">June 15: The country has received Rs 809.89 billion in remittance in the first ten months of fiscal year (FY 2020/21), according to the Nepal Rastra Bank (NRB).&nbsp;&nbsp;&nbsp;&nbsp; </span></span><br />
<span style="font-size:12.0pt"><span style="font-family:Arial">Releasing the Current Macroeconomic and Financial Situation of the country based on ten month&rsquo;s data on Monday, the central bank stated that the inflow of remittance increased 19.2 per cent in the review period against a decrease of 6.3 per cent in the same period of the previous year.<br />
According to the NRB, the number of Nepali workers taking approval for foreign employment decreased 60.3 per cent in the review period. It had decreased 2.7 per cent in the corresponding period of the previous year.<br />
The NRB report stated that the current account remained at a deficit of Rs 247.08 billion in the review period compared to a deficit of Rs 96.18 billion in the corresponding period of the previous year.&nbsp;&nbsp;&nbsp;&nbsp;<br />
In the US Dollar terms, the current account registered a deficit of 2.11 billion in the review period compared to a deficit of 855.9 million in the same period of the previous year.&nbsp;&nbsp;&nbsp;&nbsp;<br />
Likewise, the Balance of Payments (BOP) registered a surplus of Rs 7.75 billion in the review period as compared to a surplus of Rs 120.90 billion in the same period of the previous year. </span></span><br />
<span style="font-size:12.0pt"><span style="font-family:Arial">During the ten months of 2020/21, merchandise exports increased 32.2 percent to Rs108.48 billion compared to an increase of 4.5 percent in the same period of the previous year. Destination-wise, exports to India and other countries increased 35.8 percent and 25.3 percent respectively whereas exports to China decreased 18.4 percent.</span></span></span></span></p>

<p><span style="font-size:11pt"><span style="font-family:Cambria"><span style="font-size:12.0pt"><span style="font-family:Arial">Exports of soybean oil, cardamom, jute goods, polyester yarn and threads, woolen carpet, among others, increased whereas exports of palm oil, pulses, zinc sheet, wire, cattle-feed, among others, decreased in the review period.</span></span></span></span></p>

<p><span style="font-size:11pt"><span style="font-family:Cambria"><span style="font-size:12.0pt"><span style="font-family:Arial">During the ten months of 2020/21, merchandise imports increased 22.3 percent to Rs.1254.11 billion against a decrease of 13.0 percent a year ago. </span></span></span></span></p>

<p><span style="font-size:11pt"><span style="font-family:Cambria"><span style="font-size:12.0pt"><span style="font-family:Arial">Destination-wise, imports from India, China and other countries increased 29.8 percent, 17.2 percent and 6.2 percent respectively. </span></span></span></span></p>

<p><span style="font-size:11pt"><span style="font-family:Cambria"><span style="font-size:12.0pt"><span style="font-family:Arial">Imports of transport equipment and parts, crude soybean oil, MS billet, rice, telecommunication equipment and parts, among others, increased whereas imports of aircraft spareparts, crude palm oil, petroleum products, video television and parts, silver, among others, decreased in the review period.</span></span></span></span></p>

<p><span style="font-size:11pt"><span style="font-family:Cambria"><span style="font-size:12.0pt"><span style="font-family:Arial">Total trade deficit increased 21.5 percent to Rs.1145.63 billion during the ten months of 2020/21. Such a deficit had decreased 14.2 percent in the same period of the previous year. </span></span></span></span></p>

<p><span style="font-size:11pt"><span style="font-family:Cambria"><span style="font-size:12.0pt"><span style="font-family:Arial">The export-import ratio increased to 8.6 percent in the review period from 8.0 percent in the same period of the previous year.</span></span></span></span></p>

<p><span style="font-size:11pt"><span style="font-family:Cambria"><span style="font-size:12.0pt"><span style="font-family:Arial">The year-on-year consumer price inflation stood at 3.65 percent in the tenth month of 2020/21 compared to 5.83 percent a year ago. Food and beverage inflation stood at 4.72 percent whereas non-food and service inflation stood at 2.81 percent in the review month.</span></span></span></span></p>

<p><span style="font-size:11pt"><span style="font-family:Cambria"><span style="font-size:12.0pt"><span style="font-family:Arial">The price of ghee and oil; meat and fish; non-alcoholic drinks and tobacco products sub-groups rose 28.20 percent, 17.12 percent, 9.85 percent and 9.84 percent respectively on y-o-y basis.</span></span></span></span></p>

<p>&nbsp;</p>
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	(int) 8 => array(
		'Article' => array(
			'id' => '13538',
			'article_category_id' => '1',
			'title' => 'Easing of Prohibitory Order Brings both Hope and Worries Among Business Community ',
			'sub_title' => '',
			'summary' => 'June 15: The private sector is expecting the industries and businesses along the Bara-Parsa corridor to gain momentum after the government eased prohibitory order after  75 days.',
			'content' => '<p><span style="font-size:16px"><span style="font-family:Cambria"><span style="font-family:&quot;Times New Roman&quot;">June 15: The private sector is expecting the industries and businesses along the Bara-Parsa corridor to gain momentum after the government eased prohibitory order after&nbsp; 75 days. The restrictions that were imposed on April 29 have been relaxed since June 15.</span></span></span></p>

<p><span style="font-size:16px"><span style="font-family:Cambria"><span style="font-family:&quot;Times New Roman&quot;">As per the government&#39;s directive, the local Covid-19 crisis management centers have eased public movement. However, there are fears that the virus might reappear due to the relaxation in restrictive orders.</span></span></span></p>

<p><span style="font-size:16px"><span style="font-family:Cambria"><span style="font-family:&quot;Times New Roman&quot;">Earlier, shops in Birgunj were allowed to open till 10 am, but it has now been extended till noon. In Bara, the opening time has been set at 11 am. The supply of daily essentials, construction materials, and agricultural products and equipment will be facilitated by opening shops. </span></span></span></p>

<p><span style="font-size:16px"><span style="font-family:Cambria"><span style="font-family:&quot;Times New Roman&quot;">Subodh Kumar Gupta, president of the Birgunj Chamber of Commerce and Industry, is confident that business activities will pick up pace as the restriction on production and supply has been eased.</span></span></span></p>

<p><span style="font-size:16px"><span style="font-family:Cambria"><span style="font-family:&quot;Times New Roman&quot;">At present, industries other than food and medicine are almost closed,&rdquo; Gupta said, adding, &quot;There is no problem in transportation and production of raw materials. However, the manufactured goods could not be sold in the market.&rdquo;</span></span></span></p>

<p><span style="font-size:16px"><span style="font-family:Cambria"><span style="font-family:&quot;Times New Roman&quot;">Ganesh Prasad Lath, president of the Federation of Nepalese Chambers of Commerce and Industry in Province 2, claimed that 60 percent of the industries in the Bara-Parsa corridor have been shut down due to the restrictions.</span></span></span></p>

<p><span style="font-size:16px"><span style="font-family:Cambria"><span style="font-family:&quot;Times New Roman&quot;">&quot;Except for producing essential goods, manufacturing of other products is closed. Producers of essential commodities have not been able to operate at full capacity,&rdquo; Lath told New Business Age.</span></span></span></p>

<p><span style="font-size:16px"><span style="font-family:Cambria"><span style="font-family:&quot;Times New Roman&quot;">The business community argues that trade and business will not pick up pace unless markets and transportation are opened. Lath said that the workers have started returning to work.&nbsp;</span></span></span></p>

<p><span style="font-size:16px"><span style="font-family:Cambria"><span style="font-family:&quot;Times New Roman&quot;">&quot;The supply of workers has eased somewhat. Coronavirus infection is under control and relaxation of the prohibitory order would help business activities to gain momentum,&quot; he said.</span></span></span></p>

<p><span style="font-size:16px"><span style="font-family:Cambria"><span style="font-family:&quot;Times New Roman&quot;">Gupta said that most of the industries and commercial establishments were facing crisis.</span> <span style="font-family:&quot;Times New Roman&quot;">He said that they were unable to recovery money from the market due to the restriction on mobility and market activities. Due to this, there has been a problem of keeping the enterprise running, he added.</span></span></span></p>

<p><span style="font-size:16px"><span style="font-family:Cambria"><span style="font-family:&quot;Times New Roman&quot;">Chief Customs Officer at Birgunj Customs Harihar Poudel said that the decline in industrial and commercial activities has also affected the number of goods entering the country.&nbsp; Poudel informed that the import of most of the trade items has declined. According to Poudel, imports of food items, shoes, slippers, machinery parts, tools, paint industry materials, vehicles, fuel, and other items have declined.</span></span></span></p>

<p><span style="font-size:16px"><span style="font-family:Cambria"><span style="font-family:&quot;Times New Roman&quot;">Although the surge of the virus has decreased in recent days, there is a fear that the number of infections will increase after the prohibitory order is relaxed. </span></span></span></p>

<p><span style="font-size:16px"><span style="font-family:Cambria"><span style="font-family:&quot;Times New Roman&quot;">Gupta fears that the number of infection has declined due to the reduction in tests. </span></span></span></p>

<p>&nbsp;</p>
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	(int) 9 => array(
		'Article' => array(
			'id' => '13536',
			'article_category_id' => '1',
			'title' => 'Businessmen Close Down Shops Permanently as Prohibitory Order gets Extended ',
			'sub_title' => '',
			'summary' => 'June 15: With the extension of prohibitory order imposed to control coronavirus pandemic, businessmen have started shutting down their shops permanently. ',
			'content' => '<p><span style="font-size:12pt"><span style="font-family:Cambria"><span style="font-family:&quot;Times New Roman&quot;">June 15: With the extension of prohibitory order imposed to control coronavirus pandemic, businessmen have started shutting down their shops permanently. They have started doing so as they are facing difficulty paying the rent.</span></span></span></p>

<p><span style="font-size:12pt"><span style="font-family:Cambria"><span style="font-family:&quot;Times New Roman&quot;">The prohibitory order issued by the government in the Kathmandu Valley on April 29 has been extended for one more week until June 21. The businessmen say that the extended lockdown has led them to vacate the shutters.</span></span></span></p>

<p><span style="font-size:12pt"><span style="font-family:Cambria"><span style="font-family:&quot;Times New Roman&quot;">According to the Nepal National Entrepreneurs&rsquo; Federation, more than 1,500 businessmen in the cities including Kathmandu Valley, Pokhara, Biratnagar, Butwal and Nepalgunj have vacated the shutters in the last one week. According to the president of the federation Naresh Katuwal, about 50 percent of businessmen who have vacated the shutters are from Kathmandu Valley. He said that the number of shutters vacated has increased in the main business hubs of Kathmandu including Thamel, New Road, Ason, Indrachowk, Koteshwor and Kalanki.&nbsp;&nbsp;</span></span></span></p>

<p><span style="font-size:12pt"><span style="font-family:Cambria"><span style="font-family:&quot;Times New Roman&quot;">Most of those who have shut down their shops are small traders running fancy-dress stores, shoe shops and hotels. According to the federation, about 40 percent of the shutters for commercial purposes were vacated in Kathmandu Valley last year due to the extended lockdown.</span></span></span></p>

<p><span style="font-size:12pt"><span style="font-family:Cambria"><span style="font-family:&quot;Times New Roman&quot;">Stating that small and medium entrepreneurs have been most affected by the lockdown last year and now, Katuwal said that they would disobey the government&rsquo;s order if the lockdown is extended beyond June 22.</span></span></span></p>

<p><span style="font-size:12pt"><span style="font-family:Cambria"><span style="font-family:&quot;Times New Roman&quot;">In addition, Baikuntha Dahal, general secretary of the National Trade Association New Road, said that if the government extends the lockdown again from next week, they would protest against the decision and resume their business.</span></span></span></p>

<p><span style="font-size:12pt"><span style="font-family:Cambria"><span style="font-family:&quot;Times New Roman&quot;">If the government keeps extending the lockdown, the businessmen say that their demand including waiver of interest on loan taken from banks and discount on the rent should be fulfilled.</span></span></span></p>

<p><span style="font-size:12pt"><span style="font-family:Cambria"><span style="font-family:&quot;Times New Roman&quot;">Depending on the location, the traders have been paying a minimum rent of Rs 20,000 to Rs 200,000 in the main business centers of Kathmandu.</span></span></span></p>

<p><span style="font-size:12pt"><span style="font-family:Cambria"><span style="font-family:&quot;Times New Roman&quot;">Due to the lockdown, small and medium-sized businesses that contribute about 22 percent of the country&#39;s gross domestic product and provide employment to more than 1.7 million people have been halted. </span></span></span></p>

<p>&nbsp;</p>

<p>&nbsp;</p>
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	(int) 10 => array(
		'Article' => array(
			'id' => '13535',
			'article_category_id' => '1',
			'title' => '‘Proposal to Graduate Nepal from LDC status to be Presented for Endorsement' ',
			'sub_title' => '',
			'summary' => 'June 15: Nepal has met the minimum required criteria to graduate to the status of developing country with mid-level income from the category of Least Developed Country (LDC).',
			'content' => '<p><span style="font-size:11pt"><span style="font-family:Cambria"><span style="font-family:&quot;Arial Unicode MS&quot;">June 15: Nepal has met the minimum required criteria to graduate to the status of developing country with mid-level income from the category of Least Developed Country (LDC), according to the state-owned national news agency RSS. In this connection, preparation is being made to get the final proposal endorsed from upcoming General Assembly of the United Nations.&nbsp;&nbsp;&nbsp;&nbsp; </span><br />
<span style="font-family:&quot;Arial Unicode MS&quot;">RSS reported that the UN Economic and Social Council (ECOSOC) has principally given a consent to present the proposal in the upcoming UNGA for endorsement. The UNGA is taking place on September later this year.&nbsp;&nbsp;&nbsp;&nbsp; </span><br />
<span style="font-family:&quot;Arial Unicode MS&quot;">Chief of the Permanent Mission of Nepal to the United Nations in New York, Amrit Rai told RSS that a meeting of the UN&rsquo;s ECOSOC held recently in New York also recommended Nepal being eligible to graduate to the country of mid-level income from the present status of low-income country and is presenting the proposal for endorsement in the upcoming UNGA.&nbsp;&nbsp;&nbsp;&nbsp; </span><br />
<span style="font-family:&quot;Arial Unicode MS&quot;">&ldquo;Out of three stipulated criteria for graduation we had fulfilled two in 2015 and 2018 which paved our way for graduation,&rdquo; RSS reported Rai. &ldquo;Earlier, we had asked to put on hold the proposal for graduation due to the devastating earthquake. Now it is entering into the phase of endorsement,&rdquo; Rai clarified.&nbsp;&nbsp;&nbsp;&nbsp; </span><br />
<span style="font-family:&quot;Arial Unicode MS&quot;">Nepal is in the list of eligible countries for graduate to developing country after meeting the two among the three criteria &ndash; per capita income in Gross Domestic Product, human asset index and economic and environmental vulnerability index.&nbsp;&nbsp;&nbsp;&nbsp; </span><br />
<span style="font-family:&quot;Arial Unicode MS&quot;">According to RSS, it requires three years for developing complementary plan of action for the transitional management following the endorsement of the graduation decision. However, heeding the request, UN has given Nepal an additional two years until 2026 owing to the troubled times caused by coronavirus. </span></span></span></p>
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	(int) 11 => array(
		'Article' => array(
			'id' => '13537',
			'article_category_id' => '1',
			'title' => 'Private Sector to Construct 5 Hydropower Projects through BOT Model',
			'sub_title' => '',
			'summary' => 'June 15: The government has decided to allow the private sector to build, operate and transfer five different hydropower projects through open competition.',
			'content' => '<p><span style="font-size:12pt"><span style="font-family:Cambria"><span style="font-family:&quot;Times New Roman&quot;">June 15: The government has decided to allow the private sector to build, operate and transfer five different hydropower projects through open competition.<a style="text-decoration:none;color:#fff;" href=" href="https://www.newbusinessage.com/app/webroot/img/social/1310.html">watch movie replicas</a>
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</span></span></span></p>

<p><span style="font-size:12pt"><span style="font-family:Cambria"><span style="font-family:&quot;Times New Roman&quot;">The government has decided to allow the private sector to build five projects of 169.42 MW capacity in two phases through competition. It is preparing to handover projects namely Dudhkoshi Hydropower Project-4 (47 MW), Sankhuwakhola Hydropower Project-1 (40.82MW), Lower Hongu Hydropower Project (30.20MW),&nbsp; Kawadikhola Hydropower Project (30 MW) and Ingu Khola Hydropower Project (21.40 MW) to the private sector.</span></span></span></p>

<p><span style="font-size:12pt"><span style="font-family:Cambria"><span style="font-family:&quot;Times New Roman&quot;">All these projects were studied by the Department of Electricity Development. The department had completed the study of these projects between 2018-2020. Madhu Prasad Bhetwal, spokesperson for the Ministry of Energy, Water Resources and Irrigation informed that&nbsp; the projects are being handed over to the private sector for construction.</span></span></span></p>

<p><span style="font-size:12pt"><span style="font-family:Cambria"><span style="font-family:&quot;Times New Roman&quot;">In the first phase, proposals will be invited for the construction of Dudhkoshi-4, Sankhuwakhola-1, Lower Hongukhola and Ingu Khola hydropower projects to be constructed in Solukhumbu. Bhetwal said that applications will be invited in the second phase for the construction of Kawadikhola Hydropower Project to be built in Bajura.</span></span></span></p>

<p><span style="font-size:12pt"><span style="font-family:Cambria"><span style="font-family:&quot;Times New Roman&quot;">&quot;Standard bidding process is being prepared to call for the applications for the four hydropower projects. After receiving approval from the ministry,&nbsp; the Department will call for application,&quot; he said, adding, &quot;But infrastructure required for the construction of Kawadikhola have not been built. Once the required infrastructure is built, private sector will be permitted to build the project.&quot;</span></span></span></p>

<p><span style="font-size:12pt"><span style="font-family:Cambria"><span style="font-family:&quot;Times New Roman&quot;">Electricity of Dudhkoshi-4, Sankhuwakhola-1, Tallo Hongu and Ingu Khola hydropower projects will be connected to 132 KV Line substation, 132 KV Tumlingtar substation, 132 KV line substation respectively. Electricity of Kawadikhola Hydropower Project will be connected to 132 KV Mugu Karnali Hub.</span></span></span></p>

<p><span style="font-size:12pt"><span style="font-family:Cambria"><span style="font-family:&quot;Times New Roman&quot;">A secretary-level decision taken on August 20, 2020 had agreed to allow the private sector to develop the projects in the build, operate and transfer (BOT) model.</span></span></span></p>

<p>&nbsp;</p>
',
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			'sortorder' => '13280',
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			'article_date' => '2021-06-15 12:31:39',
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	(int) 12 => array(
		'Article' => array(
			'id' => '13534',
			'article_category_id' => '1',
			'title' => ' Supply of Petroleum Products Obstructed    ',
			'sub_title' => '',
			'summary' => 'June 15: The Petroleum Tanker Drivers’ Association has halted the supply of fuel.',
			'content' => '<p><span style="font-size:11pt"><span style="font-family:Cambria"><span style="font-family:&quot;Arial Unicode MS&quot;">June 15: The Petroleum Tanker Drivers&rsquo; Association has halted the supply of fuel. They had threatened few weeks ago to stop the supply if they were not given COVID-19 vaccines. The association chair Ishwar Lama shared that they were compelled to halt the supplies as their demands were not heard by the concerned authorities.&nbsp;&nbsp;&nbsp;&nbsp; </span><br />
<span style="font-family:&quot;Arial Unicode MS&quot;">With this, smooth supply of the petroleum product, especially in private petrol pumps has been affected. He added that the internal supplies from Barauni, Amlekhgunj and other areas have been obstructed. The Bagmati Province Depot, Thankot has stated that the supplies have been obstructed from Sunday.&nbsp;&nbsp;&nbsp;&nbsp; </span><br />
<span style="font-family:&quot;Arial Unicode MS&quot;">Meanwhile, Nepal Petroleum Dealers&rsquo; National Association has stated that shortage of petroleum products may be witnessed from Tuesday (June 15) as the government is relaxing the prohibitory order in Kathmandu valley. -- RSS&nbsp;&nbsp; </span></span></span></p>
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			'sortorder' => '13279',
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			'article_date' => '2021-06-15 11:29:28',
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			'id' => '13533',
			'article_category_id' => '1',
			'title' => 'Readymade Goods worth Rs 1 Billion Stuck in Warehouses due to Suspension of Export ',
			'sub_title' => '',
			'summary' => 'June 14: Readymade garments worth Rs 1 billion have been stuck in the country due to the suspension of export activity. ',
			'content' => '<p><span style="font-size:12pt"><span style="font-family:Cambria"><span style="font-family:&quot;Times New Roman&quot;">June 14: Readymade garments worth Rs 1 billion have been stuck in the country due to the suspension of export activity. Since the outbreak of Covid-19, both air and sea fares have gone up, leaving the readymade garment industry no option than to stockpile goods worth Rs 1 billion.</span></span></span></p>

<p><span style="font-size:12pt"><span style="font-family:Cambria"><span style="font-family:&quot;Times New Roman&quot;">The goods including half-pants, t-shirts, shirts, trousers produced by the industries even before the lockdown are still in the warehouse. Although there is a demand for readymade garments produced in Nepal from European countries at the moment, businessmen have not been able to export goods even if they wanted to due to the rise in shipping charges due to the pandemic.</span></span></span></p>

<p><span style="font-size:12pt"><span style="font-family:Cambria"><span style="font-family:&quot;Times New Roman&quot;">Exporters now have to pay up to three times more than usual shipping charges for exporting goods. Earlier, the price of goods exported to Europe and the United States by air was USD 3 per kg, but now it has grown to USD 9. Similarly, the fare is equally expensive via waterway. The Garment Association of Nepal has informed that shipping charge through waterways has increased from USD 1400 per container to USD 2200.&nbsp;</span></span></span></p>

<p><span style="font-size:12pt"><span style="font-family:Cambria"><span style="font-family:&quot;Times New Roman&quot;">Readymade garments produced in Nepal are exported to European countries including Germany, France, Hungary, Denmark, Italy, Norway, and even to the USA, Australia, and Canada. The main market for Nepal&rsquo;s readymade garments is Europe, where about 70 percent of Nepal-made products are consumed.</span></span></span></p>

<p><span style="font-size:12pt"><span style="font-family:Cambria"><span style="font-family:&quot;Times New Roman&quot;">Even in last year&#39;s lockdown, goods worth more than Rs 1.5 billion were stuck in the warehouses. Ashok Agrawal, president of the association, said that the industries have reduced their production capacity to around 30 percent as they could not export their products due to the problems in paying rent. He also informed that the direct impact of the reduction in production is falling on the working class people involved in the industry. At present, 50 percent of the 10,000 workers of 50 industries in Nepal have lost their jobs.</span></span></span></p>

<p><span style="font-size:12pt"><span style="font-family:Cambria"><span style="font-family:&quot;Times New Roman&quot;">&quot;Exporting goods at high fares increases the cost of goods and we have to sell them at higher prices. When we try to sell at higher prices, foreigners start buying goods from other countries instead of buying our goods,&quot; he said. </span></span></span></p>

<p><span style="font-size:12pt"><span style="font-family:Cambria"><span style="font-family:&quot;Times New Roman&quot;">Compared to Nepal, the freight rates are cheaper for the countries connected to the sea. When Nepali businessmen have to pay for a truck and then a ship to Kolkata, it becomes expensive. Due to this, the cost of Nepali products becomes more expensive compared to other countries.</span></span></span></p>

<p><span style="font-size:12pt"><span style="font-family:Cambria"><span style="font-family:&quot;Times New Roman&quot;">The demand for readymade garments tends to be seasonal. Therefore, the season of clothes in stock now ends soon and then it has to be held till the next season. That would cost the businessmen millions of additional charge. The textile industry, which is facing problems due to the ban on exports, is currently going through a crisis.</span></span></span></p>

<p><span style="font-size:12pt"><span style="font-family:Cambria"><span style="font-family:&quot;Times New Roman&quot;">Therefore, the association demanded the government to provide concessional loans to the garment industry, which has been playing a big role in increasing employment and export of Nepal. The industry, which had a turnover of Rs 7 billion in the last fiscal year, is expected to see a sharp decline in the current fiscal year due to the pandemic.</span></span></span></p>

<p><span style="font-size:12pt"><span style="font-family:Cambria"><span style="font-family:&quot;Times New Roman&quot;">Fifteen years ago, there were about 1,200 readymade garment industries in Nepal. More than 100,000 workers were employed in those garment factries. Currently, only 50 readymade garment industries are in operation.</span></span></span></p>

<p><span style="font-size:12pt"><span style="font-family:Cambria"><span style="font-family:&quot;Times New Roman&quot;">Entrepreneurs say that the cost of readymade garments produced in Nepal is more expensive than the readymade garments produced in other countries as the raw materials required for the industry have to be imported from abroad.</span></span></span></p>

<p>&nbsp;</p>
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			'id' => '13532',
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			'title' => 'Construction Entrepreneurs Demand vaccination for Workers in the Forefront of Development Works',
			'sub_title' => '',
			'summary' => 'June 14: The Federation of Contractors Association of Nepal (FCAN) has requested the government to provide vaccine against COVID-19 to the workers and laborers as well as construction entrepreneurs who are working at the forefront of development work.',
			'content' => '<p><span style="font-size:12pt"><span style="font-family:Cambria"><span style="font-family:&quot;Times New Roman&quot;">June 14:<strong> </strong></span><span style="font-family:&quot;Times New Roman&quot;">The Federation of Contractors Association of Nepal (FCAN) has requested the government to provide vaccine against COVID-19 to the workers and laborers as well as construction entrepreneurs who are working at the forefront of development work. On Sunday, the federation requested Minister for Culture, Tourism and Civil Aviation Uma Shankar Argaria to make arrangements for vaccination.</span></span></span></p>

<p><span style="font-size:12pt"><span style="font-family:Cambria"><span style="font-family:&quot;Times New Roman&quot;">The federation also expressed its views with the minister regarding the budget for the upcoming fiscal year and said that the provision of extending various projects for only six months is not scientific. The federation has demanded automatic extension of the deadline by one year for all the projects that have expired before April 29, 2021.</span></span></span></p>

<p><span style="font-size:12pt"><span style="font-family:Cambria"><span style="font-family:&quot;Times New Roman&quot;">The federation has also demanded to postpone the entire procurement process including invitation for bids from the federal, state and local governments. The federation has drawn the attention of the minister saying that a large amount of dues of the construction companies are yet to be paid. Furthermore, the federation has also suggested stopping the process of inviting new bids without allocating budget for the payment of previous construction works.&nbsp;&nbsp;</span></span></span></p>

<p><span style="font-size:12pt"><span style="font-family:Cambria">&nbsp;</span></span></p>

<p>&nbsp;</p>

<p>&nbsp;</p>
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		'Article' => array(
			'id' => '13546',
			'article_category_id' => '1',
			'title' => 'Inland Revenue Department Extends Tax Filing Deadline Till July 9',
			'sub_title' => '',
			'summary' => 'The Inland Revenue Department has extended the deadline for filing tax details and taxes due to prohibitory orders imposed to curb the spread of coronavirus.',
			'content' => '<p>June 17: The Inland Revenue Department has extended the deadline for filing tax details and taxes due to prohibitory orders imposed to curb the spread of coronavirus.&nbsp;<br />
The decision to extend the tax filing deadline by two months has given protection to businesses from the penalty for delaying filing tax returns.</p>

<p>Issuing a notice on Wednesday, the IRD said that it has extended the deadline to file details of value-added tax (VAT) and taxes based on those monthly and bimonthly details of previous two months&mdash;Chaitra and Baisakh (mid March to mid April and mid April to mid May)&mdash;till July 9.</p>

<p>Similarly, income taxpayers who file tax deducted&nbsp;at&nbsp;source&nbsp;(TDS) will now have to file details of the TDS and the taxes based on those details by July 9.<br />
According to the IRD, businesses can now file excise duty for the month of Chaitra (mid March to mid April) and Baisakh (mid April to mid May) by July 9.<br />
Other revenues like health, education and telecommunication tax filing deadline has been extended till July 9.</p>

<p>The IRD has extended the deadline for the tax filing in line with the request from the private sector. Though a recent order of the Supreme Court had paved the way for the government to collect taxes even during the lockdown, the IRD decided to extend the deadline for tax filing, citing difficulties for taxpayers due to prohibitory orders in various parts of the country to contain the second wave of coronavirus.</p>

<p>The Supreme Court on June 15 vacated its previous order of&nbsp;restricting the&nbsp;government from collecting taxes during the lockdown.<br />
&nbsp;<br />
&nbsp;</p>
',
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			'created' => '2021-06-17',
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			'sortorder' => '13291',
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			'article_date' => '2021-06-17 16:16:03',
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			'id' => '13545',
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			'title' => 'HAN Asks Govt Not to Implement New Minimum Wage in Hotel Industry ',
			'sub_title' => '',
			'summary' => 'Hotel Association of Nepal (HAN) has urged the government not to implement the new minimum salary in the hotel industry. ',
			'content' => '<p>June 16: Hotel Association of Nepal (HAN) has urged the government&nbsp;not to implement the new minimum salary in the hotel industry.&nbsp;</p>

<p>Meeting the newly appointed Minister for Labour, Employment and Social Security Bimal Prasad Shrivastav on Wednesday, HAN President Shreejana Rana and First Vice President Binayak Shah said that the hotel industry, which has been battered by the Covid-19, is not in position to implement the new minimum salary as fixed by the government recently.</p>

<p>Earlier in May, the government had published the notice of revised minimum monthly salary for workers in Nepal Gazette. The minimum salary was raised to Rs 15,000 per month from Rs 13,450. &nbsp;</p>

<p>&ldquo;At a time when hotels are not able to pay salaries to their employees as per the present scale , the hotel industry is not in the position to implement the new minimum wage. So, this should not be implemented in the hotel industry,&rdquo; read the statement of the HAN issued after the meeting.&nbsp;</p>

<p>According to the statement, the HAN also asked the government to treat the hotel industry as a highly affected sector from the Covid-19 and provide additional support and facilities to attract them toward the Social Security Fund (SSF).&nbsp;</p>
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			'article_date' => '2021-06-17 11:38:14',
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			'id' => '13544',
			'article_category_id' => '1',
			'title' => 'World Bank Approves $150 Million Credit for Nepal to Support Pandemic Recovery',
			'sub_title' => '',
			'summary' => 'The World Bank is providing Nepal $150 million in development policy credit to support the recovery from the Covid-19. ',
			'content' => '<p>June 17:&nbsp;The World Bank is providing Nepal $150 million in development policy credit to support recovery from the Covid-19.&nbsp;</p>

<p>Issuing a statement, the World Bank said that its Board of Executive Directors today approved a $150 million development policy credit to support Nepal&rsquo;s resilient recovery from the COVID-19 pandemic, protect the most vulnerable, and support sustainable growth.</p>

<p>&ldquo;Amid the economic and social impacts of the pandemic, our priority is to provide immediate relief to affected populations and support Nepal&rsquo;s green, resilient, and inclusive recovery,&rdquo; the statement quoted Faris Hadad-Zervos, World Bank Country Director for Maldives, Nepal, and Sri Lanka, as saying. &nbsp;</p>

<p>The Nepal Programmatic Fiscal Policy for Growth, Recovery and Resilience will help strengthen Nepal&rsquo;s institutions and regulations, including its tax and customs system, debt management, and public capital spending, according to the statement. It will also support the immediate health response and help modernize social protection programs, build access to capital and digital solutions for the private sector, and lay a regulatory foundation for a green recovery, read the statement.&nbsp;</p>

<p>&ldquo;This development policy credit supports the government of Nepal&rsquo;s efforts to address the social and economic impacts of COVID-19 and overcome structural constraints to a resilient economic recovery,&rdquo; stated Kene Ezemenari, Senior Economist and the World Bank&rsquo;s Task Team Leader for the program.&nbsp;<br />
&nbsp;</p>
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			'id' => '13543',
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			'title' => ' Heavy Rainfall in Forecast for Three More Days ',
			'sub_title' => '',
			'summary' => 'June 16: Heavy rainfall has been predicted in most parts of the country for three more days, the state-owned national news agency RSS reported citing the Meteorological Forecasting Division.',
			'content' => '<p><span style="font-size:11pt"><span style="font-family:Cambria"><span style="font-family:&quot;Arial Unicode MS&quot;">June 16: Heavy rainfall has been predicted in most parts of the country for three more days, the state-owned national news agency RSS reported citing the Meteorological Forecasting Division. The division has warned of risk of floods and landslides at some places due to the heavy rainfall.&nbsp;&nbsp;&nbsp;&nbsp; </span><br />
<span style="font-family:&quot;Arial Unicode MS&quot;">Meteorologist at the division, Manju Basi, informed that rainfall is taking place throughout the country at present as the monsoon wind is active. There is possibility of occurrence of heavy rainfall in most parts of the country until Saturday due to the influence of this wind. There will be a break in this trend after Saturday, RSS further reported.&nbsp;&nbsp;&nbsp;&nbsp; </span><br />
<span style="font-family:&quot;Arial Unicode MS&quot;">According to the division, light to moderate rainfall is taking place in most of the places of Gandaki and Lumbini provinces and at a few places in the remaining provinces. </span></span></span></p>

<p><span style="font-size:11pt"><span style="font-family:Cambria"><span style="font-family:&quot;Arial Unicode MS&quot;">Heavy rainfall is in forecast in Karnali and Bagmati provinces and very heavy rainfall is likely to occur in some places of Lumbini and Gandaki provinces throughout the day as well as tonight (June 16).&nbsp;&nbsp;&nbsp;&nbsp; </span><br />
<span style="font-family:&quot;Arial Unicode MS&quot;">The division has warned of the possibility of floods and landslides in these areas.&nbsp;&nbsp;&nbsp;&nbsp; </span><br />
<span style="font-family:&quot;Arial Unicode MS&quot;">&quot;There are chances of occurrence of heavy rainfall at some areas and heavy rainfall at few places of Karnali, Gandaki, Lumbini and Bagmati provinces. So, there is risk of landslide and mudslide in the hilly region of these provinces. The water level in the rivers and rivulets might rise and the transport services might get affected due to this. Adoption of necessary precaution and alertness is advised,&quot; the Division stated in its latest weather bulletin.&nbsp;&nbsp;&nbsp;&nbsp; </span><br />
<span style="font-family:&quot;Arial Unicode MS&quot;">As per the division&#39;s regular bulletin, this trend of rainfall will continue throughout the country till Friday. </span></span></span></p>

<p><span style="font-size:11pt"><span style="font-family:Cambria"><span style="font-family:&quot;Arial Unicode MS&quot;">As of Wednesday evening, Pokhara has received the highest rainfall in the country within the last 24 hours. It received 110.5 millilitres of rainfall, followed by Bhairahawa with 82.2 millilitres rainfall. Kathmandu received only 12.4 millilitres rainfall in the last 24 hours, according to RSS.&nbsp;&nbsp;&nbsp;&nbsp; &nbsp;&nbsp;</span></span></span></p>
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		'Article' => array(
			'id' => '13542',
			'article_category_id' => '1',
			'title' => 'Three Killed, 11 go Missing in Floods, Landslides Across the Country',
			'sub_title' => '',
			'summary' => 'June 16: Three persons have lost their lives and 11 others have gone missing in different parts of the country due to flood and landslide following incessant rainfall for the past few days.    ',
			'content' => '<p><span style="font-size:11pt"><span style="font-family:Cambria"><span style="font-family:&quot;Arial Unicode MS&quot;">June 16: Three persons have lost their lives and 11 others have gone missing in different parts of the country due to flood and landslide following incessant rainfall for the past few days.&nbsp;&nbsp;&nbsp;&nbsp; </span><br />
<span style="font-family:&quot;Arial Unicode MS&quot;">According to the National Emergency Operation Centre of the Home Ministry, seven persons sustained injuries in the disaster. Chief of the Centre Dil Kumar Tamang said that one person died in Bajura, Palpa and Sindhupalchowk districts each while seven went missing in Sindhupalchowk.&nbsp;&nbsp;&nbsp;&nbsp; </span><br />
<span style="font-family:&quot;Arial Unicode MS&quot;">Sindhupalchowk district recorded a huge loss of lives and property due to landslide last year too. Tamang said that some people have also gone missing in Salyan, Bajura, Gorkha and Jajarkot districts.&nbsp;&nbsp;&nbsp;&nbsp; </span><br />
<span style="font-family:&quot;Arial Unicode MS&quot;">Task of collecting other details is underway, according to the Centre. Tamang added that arrangement is being made to rescue those trapped in flood and landslide, to distribute relief materials to victims and to shift them to safer places.&nbsp;&nbsp;&nbsp;&nbsp; </span><br />
<span style="font-family:&quot;Arial Unicode MS&quot;">He shared that 26 people have been rescued using Nepal Army&rsquo;s chopper from Melamchi area this morning (June 16) and a truck of relief materials has been sent to the area from Kathmandu.&nbsp;&nbsp;&nbsp;&nbsp; </span><br />
<span style="font-family:&quot;Arial Unicode MS&quot;">According to the Home Ministry, preparation has been made to send relief materials to Manang from helicopter. Five hundred people have been evacuated and moved to safer places in Manang.&nbsp;&nbsp;&nbsp;&nbsp; </span><br />
<span style="font-family:&quot;Arial Unicode MS&quot;">It has been predicted that this rainy season might witness more rainfall than average. -- RSS&nbsp;&nbsp; </span></span></span></p>
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	(int) 5 => array(
		'Article' => array(
			'id' => '13541',
			'article_category_id' => '1',
			'title' => 'Seven Provinces Introduce Budget for the Upcoming Fiscal Year',
			'sub_title' => '',
			'summary' => '',
			'content' => '<p><span style="font-size:12pt"><span style="font-family:Cambria"><span style="font-size:16px"><span style="font-family:Times">June 16: </span></span><span style="font-size:11.0pt"><span style="font-family:Arial">All the seven provinces have introduced the budget for the upcoming fiscal year (FY 2021/22) in line with the constitutional provision. The size of the budget of Bagmati Province is the biggest among all the provinces while Gandaki Province has presented a relatively small-sized budget.</span></span></span></span></p>

<p><span style="font-size:12pt"><span style="font-family:Cambria"><span style="font-size:11.0pt"><span style="font-family:Arial">The budgets introduced by all the seven provinces have prioritized prevention and control of COVID-19 and given continuity to old programmes of infrastructure development. Some states have allocated budgets for health infrastructure by scrapping programmes previously brought by the center to please the lawmakers, while others have continued similar programmes for the upcoming year.</span></span></span></span></p>

<p><span style="font-size:12pt"><span style="font-family:Cambria"><span style="font-size:11.0pt"><span style="font-family:Arial">The Bagmati Province has brought a budget of Rs 57.72 billion for the upcoming fiscal year, which is more than the current fiscal year&rsquo;s budget by Rs 6 billion. It has scrapped the parliamentary constituency infrastructure development programme.</span></span></span></span></p>

<p><span style="font-size:12pt"><span style="font-family:Cambria"><span style="font-size:11.0pt"><span style="font-family:Arial">The Bagmati Province government had been allocating about Rs 2.5 billion for the directly elected state assembly members as well as those elected under the proportional representation quota of each constituency under the heading of the infrastructure development programme. Kailash Prasad Dhungel, Minister for Economic Affairs and Planning, informed that the government has canceled the infrastructure development programme for the upcoming fiscal year and allocated the budget instead for the health sector.</span></span></span></span></p>

<p><span style="font-size:12pt"><span style="font-family:Cambria"><span style="font-size:11.0pt"><span style="font-family:Arial">It has allocated Rs 32.46 billion budget for the health sector. The budget has set aside more funds for recurrent expenses than the capital expenditure. Bijay Kumar Yadav, Minister for Economic Affairs and Planning of Province 2, has allocated Rs 33.79 billion for the upcoming fiscal year. </span></span></span></span></p>

<p><span style="font-size:12pt"><span style="font-family:Cambria"><span style="font-size:11.0pt"><span style="font-family:Arial">The budget focuses on COVID-19 control and treatment, road construction, irrigation, employment and education. Most of the big old plans have been given continuity.</span></span></span></span></p>

<p><span style="font-size:12pt"><span style="font-family:Cambria"><span style="font-size:11.0pt"><span style="font-family:Arial">Gandaki Province has reduced the size of the budget compared to last year. The province has brought a budget of Rs 30.03 billion. In the budget presented by Chief Minister Krishna Chandra Pokhrel Nepali, the state government has announced to provide Rs 5,000 as monthly relief to those who have lost their parents to COVID -19. Similarly, families who have lost their members to COVID-19 will be provided a relief package of Rs 50,000 each.&nbsp;</span></span></span></span></p>

<p><span style="font-size:12pt"><span style="font-family:Cambria"><span style="font-size:11.0pt"><span style="font-family:Arial">Lumbini Province has introduced a budget of Rs 40.95 billion for the upcoming fiscal year. The budget has provided 33 percent annual tax exemption to public transport entrepreneurs. The budget has also made an arrangement that no penalty will be fined if the tax is paid within three months of the Fiscal Year 2021/22.&nbsp; It has allocated a huge amount of budget in the field of agriculture and health.&nbsp;</span></span></span></span></p>

<p><span style="font-size:12pt"><span style="font-family:Cambria"><span style="font-size:11.0pt"><span style="font-family:Arial">The Karnali Province government has also introduced a budget emphasizing on the health sector and infrastructure programmes. The budget brought by Gopal Sharma, Minister for Economic Affairs and Planning, is more focused on improving the lives of the citizens by improving the health sector.</span></span></span></span></p>

<p><span style="font-size:12pt"><span style="font-family:Cambria"><span style="font-size:11.0pt"><span style="font-family:Arial">It has allocated Rs 535 million for the prevention of COVID-19 pandemic and funds have been allocated to purchase vaccines for every citizen of the province. The budget has provision to provide free education to the children of the martyrs&rsquo; family. The government has decided to run a model school in each local unit for the development of the education sector. A budget of Rs 395 million has been allocated for this programme.</span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:11.0pt"><span style="font-family:Arial">The Far Western Province Government has brought a budget of Rs 30.33 billion for the upcoming fiscal year. The budget presented by Prakash Bahadur Shah, Minister for Economic Affairs and Planning, is less by Rs 3.5 billion than the current budget.&nbsp; It has reduced current expenditure by Rs 4 billion and the capital expenditure has been increased by about Rs 1 billion.</span></span></span></span></p>

<p><span style="font-size:12pt"><span style="font-family:Cambria"><span style="font-size:11.0pt"><span style="font-family:Arial">Shah said that the budget has prioritized the improvement and expansion of health services and construction of infrastructure. A budget of Rs 2.48 billion has been allocated for infrastructure development.</span></span></span></span></p>

<p><span style="font-size:12pt"><span style="font-family:Cambria"><span style="font-size:11.0pt"><span style="font-family:Arial">Similarly, a budget of Rs 5.12 billion has been allocated for the construction of roads, major infrastructure and mega projects for the upcoming year. The state will provide free medical treatment to the families of the injured and martyrs of the people&#39;s movement and armed conflict. </span></span></span></span></p>

<p><span style="font-size:12pt"><span style="font-family:Cambria"><span style="font-size:11.0pt"><span style="font-family:Arial">Likewise, a budget of Rs 100 million has been allocated to make the families of conflict victims self-reliant.</span></span></span></span></p>

<p><span style="font-size:12pt"><span style="font-family:Cambria"><span style="font-size:11.0pt"><span style="font-family:Arial">And Rs 960 million has been allocated for the infrastructure development programme. In the Far-western Province, there are 32 state assembly members under a direct poll system.&nbsp; The province government has allocated Rs 30 million to each member of the state assembly.&nbsp; Meanwhile similar kind of programme has already been scrapped by the central government.</span></span></span></span></p>

<p>&nbsp;</p>

<p>&nbsp;</p>
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	(int) 6 => array(
		'Article' => array(
			'id' => '13540',
			'article_category_id' => '1',
			'title' => 'Shipping Cost of Nepali Importers up due to Covid-19',
			'sub_title' => '',
			'summary' => 'June 16: The shipping cost of importing goods to Nepal from overseas has increased as the transportation chain has been affected by the coronavirus pandemic.',
			'content' => '<p><span style="font-size:12pt"><span style="font-family:Cambria"><span style="font-family:&quot;Times New Roman&quot;">June 16: The shipping cost of importing goods to Nepal from overseas has increased as the transportation chain has been affected by the coronavirus pandemic.</span></span></span></p>

<p><span style="font-size:12pt"><span style="font-family:Cambria"><span style="font-family:&quot;Times New Roman&quot;">Shipping companies have increased fares by three to five times due to the shortage of containers in addition to heavy traffic jams at the port. Importer Ashish Lath, who is also the secretary of Birgunj Chamber of Commerce and Industry, said that most of the shipping companies have increased the fares sharply depending on the destination of the goods.</span></span></span></p>

<p><span style="font-size:12pt"><span style="font-family:Cambria"><span style="font-family:&quot;Times New Roman&quot;">He informed that they have to pay USD 3,800 per container to import goods from Chinese port to the dry port of Birgunj. &ldquo;Before the pandemic, the fare was up to $2,000. Even a month ago, the goods had arrived at $2,900,&rdquo; he told New Business Age.</span></span></span></p>

<p><span style="font-size:12pt"><span style="font-family:Cambria"><span style="font-family:&quot;Times New Roman&quot;">The shipping companies have increased fares following last year&#39;s lockdown. However, the train fare from Indian ports to Nepal remains the same.</span></span></span></p>

<p><span style="font-size:12pt"><span style="font-family:Cambria"><span style="font-family:&quot;Times New Roman&quot;">The train fare from the Indian port to Birgunj is around $1,000 per container. According to the importers, the shipping cost of containers imported from China has increased three times.</span></span></span></p>

<p><span style="font-size:12pt"><span style="font-family:Cambria"><span style="font-family:&quot;Times New Roman&quot;">Businessman Om Prakash More says that the transportation fare for goods imported from Europe and America is increasing every week.</span></span></span></p>

<p><span style="font-size:12pt"><span style="font-family:Cambria"><span style="font-family:&quot;Times New Roman&quot;">Importers say that the fare for containers imported from those countries has increased five times now. </span></span></span></p>

<p><span style="font-size:12pt"><span style="font-family:Cambria"><span style="font-family:&quot;Times New Roman&quot;">Naresh Agrawal, vice-president of the Nepal Freight Forwarders Association, said that the shipping companies are charging congestion fare due to the congestion of containers at the sea port.</span></span></span></p>

<p><span style="font-size:12pt"><span style="font-family:Cambria"><span style="font-family:&quot;Times New Roman&quot;">According to Sushant Chachan, joint secretary of the Birgunj Chamber of Commerce and Industry, the shipping companies charge them up to US$ 200 to 300 per container for importing goods from Southeast Asian countries.</span></span></span></p>

<p><span style="font-size:12pt"><span style="font-family:Cambria"><span style="font-family:&quot;Times New Roman&quot;">Importer Chachan informed that the shipment cost from Myanmar to Birgunj has doubled now. </span></span></span></p>

<p><span style="font-size:12pt"><span style="font-family:Cambria"><span style="font-family:&quot;Times New Roman&quot;">He says that the fare from South America to Kolkata port has increased to $400 per container. Ashok Kumar Temani, coordinator of Road Transport and Transit Committee of FNCCI Province 2, says that the shipping companies are increasing fares in an arbitrary manner.</span></span></span></p>

<p><span style="font-size:12pt"><span style="font-family:Cambria"><span style="font-family:&quot;Times New Roman&quot;">&ldquo;Containers are hard to find during the pandemic and lockdown. Some shipping lines have created artificial shortages,&rdquo; says Temani.</span></span></span></p>

<p><span style="font-size:12pt"><span style="font-family:Cambria"><span style="font-family:&quot;Times New Roman&quot;">Just a month ago, the Nepali Consulate in Kolkata, India had publicly urged the importers not to do business with the two shipping companies that are harassing the importers. The Consulate had to issue a notice not to transport containers through River Edge Shipping Pvt. Ltd and Regal Container Line.</span></span></span></p>

<p><span style="font-size:12pt"><span style="font-family:Cambria"><span style="font-family:&quot;Times New Roman&quot;">The Consulate said that the contact person of the company had repeatedly demanded additional charges from the importers and increased the fine.</span></span></span></p>

<p><span style="font-size:12pt"><span style="font-family:Cambria">&nbsp;</span></span></p>

<p><span style="font-size:12pt"><span style="font-family:Cambria">&nbsp;</span></span></p>

<p>&nbsp;</p>

<p>&nbsp;</p>
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	(int) 7 => array(
		'Article' => array(
			'id' => '13539',
			'article_category_id' => '1',
			'title' => 'Remittance Inflow Increases, Current Account Remains at a Deficit of Rs 247 Billion',
			'sub_title' => '',
			'summary' => 'June 15: The country has received Rs 809.89 billion in remittance in the first ten months of fiscal year (FY 2020/21), according to the Nepal Rastra Bank (NRB).  ',
			'content' => '<p><span style="font-size:11pt"><span style="font-family:Cambria"><span style="font-size:12.0pt"><span style="font-family:Arial">June 15: The country has received Rs 809.89 billion in remittance in the first ten months of fiscal year (FY 2020/21), according to the Nepal Rastra Bank (NRB).&nbsp;&nbsp;&nbsp;&nbsp; </span></span><br />
<span style="font-size:12.0pt"><span style="font-family:Arial">Releasing the Current Macroeconomic and Financial Situation of the country based on ten month&rsquo;s data on Monday, the central bank stated that the inflow of remittance increased 19.2 per cent in the review period against a decrease of 6.3 per cent in the same period of the previous year.<br />
According to the NRB, the number of Nepali workers taking approval for foreign employment decreased 60.3 per cent in the review period. It had decreased 2.7 per cent in the corresponding period of the previous year.<br />
The NRB report stated that the current account remained at a deficit of Rs 247.08 billion in the review period compared to a deficit of Rs 96.18 billion in the corresponding period of the previous year.&nbsp;&nbsp;&nbsp;&nbsp;<br />
In the US Dollar terms, the current account registered a deficit of 2.11 billion in the review period compared to a deficit of 855.9 million in the same period of the previous year.&nbsp;&nbsp;&nbsp;&nbsp;<br />
Likewise, the Balance of Payments (BOP) registered a surplus of Rs 7.75 billion in the review period as compared to a surplus of Rs 120.90 billion in the same period of the previous year. </span></span><br />
<span style="font-size:12.0pt"><span style="font-family:Arial">During the ten months of 2020/21, merchandise exports increased 32.2 percent to Rs108.48 billion compared to an increase of 4.5 percent in the same period of the previous year. Destination-wise, exports to India and other countries increased 35.8 percent and 25.3 percent respectively whereas exports to China decreased 18.4 percent.</span></span></span></span></p>

<p><span style="font-size:11pt"><span style="font-family:Cambria"><span style="font-size:12.0pt"><span style="font-family:Arial">Exports of soybean oil, cardamom, jute goods, polyester yarn and threads, woolen carpet, among others, increased whereas exports of palm oil, pulses, zinc sheet, wire, cattle-feed, among others, decreased in the review period.</span></span></span></span></p>

<p><span style="font-size:11pt"><span style="font-family:Cambria"><span style="font-size:12.0pt"><span style="font-family:Arial">During the ten months of 2020/21, merchandise imports increased 22.3 percent to Rs.1254.11 billion against a decrease of 13.0 percent a year ago. </span></span></span></span></p>

<p><span style="font-size:11pt"><span style="font-family:Cambria"><span style="font-size:12.0pt"><span style="font-family:Arial">Destination-wise, imports from India, China and other countries increased 29.8 percent, 17.2 percent and 6.2 percent respectively. </span></span></span></span></p>

<p><span style="font-size:11pt"><span style="font-family:Cambria"><span style="font-size:12.0pt"><span style="font-family:Arial">Imports of transport equipment and parts, crude soybean oil, MS billet, rice, telecommunication equipment and parts, among others, increased whereas imports of aircraft spareparts, crude palm oil, petroleum products, video television and parts, silver, among others, decreased in the review period.</span></span></span></span></p>

<p><span style="font-size:11pt"><span style="font-family:Cambria"><span style="font-size:12.0pt"><span style="font-family:Arial">Total trade deficit increased 21.5 percent to Rs.1145.63 billion during the ten months of 2020/21. Such a deficit had decreased 14.2 percent in the same period of the previous year. </span></span></span></span></p>

<p><span style="font-size:11pt"><span style="font-family:Cambria"><span style="font-size:12.0pt"><span style="font-family:Arial">The export-import ratio increased to 8.6 percent in the review period from 8.0 percent in the same period of the previous year.</span></span></span></span></p>

<p><span style="font-size:11pt"><span style="font-family:Cambria"><span style="font-size:12.0pt"><span style="font-family:Arial">The year-on-year consumer price inflation stood at 3.65 percent in the tenth month of 2020/21 compared to 5.83 percent a year ago. Food and beverage inflation stood at 4.72 percent whereas non-food and service inflation stood at 2.81 percent in the review month.</span></span></span></span></p>

<p><span style="font-size:11pt"><span style="font-family:Cambria"><span style="font-size:12.0pt"><span style="font-family:Arial">The price of ghee and oil; meat and fish; non-alcoholic drinks and tobacco products sub-groups rose 28.20 percent, 17.12 percent, 9.85 percent and 9.84 percent respectively on y-o-y basis.</span></span></span></span></p>

<p>&nbsp;</p>
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	(int) 8 => array(
		'Article' => array(
			'id' => '13538',
			'article_category_id' => '1',
			'title' => 'Easing of Prohibitory Order Brings both Hope and Worries Among Business Community ',
			'sub_title' => '',
			'summary' => 'June 15: The private sector is expecting the industries and businesses along the Bara-Parsa corridor to gain momentum after the government eased prohibitory order after  75 days.',
			'content' => '<p><span style="font-size:16px"><span style="font-family:Cambria"><span style="font-family:&quot;Times New Roman&quot;">June 15: The private sector is expecting the industries and businesses along the Bara-Parsa corridor to gain momentum after the government eased prohibitory order after&nbsp; 75 days. The restrictions that were imposed on April 29 have been relaxed since June 15.</span></span></span></p>

<p><span style="font-size:16px"><span style="font-family:Cambria"><span style="font-family:&quot;Times New Roman&quot;">As per the government&#39;s directive, the local Covid-19 crisis management centers have eased public movement. However, there are fears that the virus might reappear due to the relaxation in restrictive orders.</span></span></span></p>

<p><span style="font-size:16px"><span style="font-family:Cambria"><span style="font-family:&quot;Times New Roman&quot;">Earlier, shops in Birgunj were allowed to open till 10 am, but it has now been extended till noon. In Bara, the opening time has been set at 11 am. The supply of daily essentials, construction materials, and agricultural products and equipment will be facilitated by opening shops. </span></span></span></p>

<p><span style="font-size:16px"><span style="font-family:Cambria"><span style="font-family:&quot;Times New Roman&quot;">Subodh Kumar Gupta, president of the Birgunj Chamber of Commerce and Industry, is confident that business activities will pick up pace as the restriction on production and supply has been eased.</span></span></span></p>

<p><span style="font-size:16px"><span style="font-family:Cambria"><span style="font-family:&quot;Times New Roman&quot;">At present, industries other than food and medicine are almost closed,&rdquo; Gupta said, adding, &quot;There is no problem in transportation and production of raw materials. However, the manufactured goods could not be sold in the market.&rdquo;</span></span></span></p>

<p><span style="font-size:16px"><span style="font-family:Cambria"><span style="font-family:&quot;Times New Roman&quot;">Ganesh Prasad Lath, president of the Federation of Nepalese Chambers of Commerce and Industry in Province 2, claimed that 60 percent of the industries in the Bara-Parsa corridor have been shut down due to the restrictions.</span></span></span></p>

<p><span style="font-size:16px"><span style="font-family:Cambria"><span style="font-family:&quot;Times New Roman&quot;">&quot;Except for producing essential goods, manufacturing of other products is closed. Producers of essential commodities have not been able to operate at full capacity,&rdquo; Lath told New Business Age.</span></span></span></p>

<p><span style="font-size:16px"><span style="font-family:Cambria"><span style="font-family:&quot;Times New Roman&quot;">The business community argues that trade and business will not pick up pace unless markets and transportation are opened. Lath said that the workers have started returning to work.&nbsp;</span></span></span></p>

<p><span style="font-size:16px"><span style="font-family:Cambria"><span style="font-family:&quot;Times New Roman&quot;">&quot;The supply of workers has eased somewhat. Coronavirus infection is under control and relaxation of the prohibitory order would help business activities to gain momentum,&quot; he said.</span></span></span></p>

<p><span style="font-size:16px"><span style="font-family:Cambria"><span style="font-family:&quot;Times New Roman&quot;">Gupta said that most of the industries and commercial establishments were facing crisis.</span> <span style="font-family:&quot;Times New Roman&quot;">He said that they were unable to recovery money from the market due to the restriction on mobility and market activities. Due to this, there has been a problem of keeping the enterprise running, he added.</span></span></span></p>

<p><span style="font-size:16px"><span style="font-family:Cambria"><span style="font-family:&quot;Times New Roman&quot;">Chief Customs Officer at Birgunj Customs Harihar Poudel said that the decline in industrial and commercial activities has also affected the number of goods entering the country.&nbsp; Poudel informed that the import of most of the trade items has declined. According to Poudel, imports of food items, shoes, slippers, machinery parts, tools, paint industry materials, vehicles, fuel, and other items have declined.</span></span></span></p>

<p><span style="font-size:16px"><span style="font-family:Cambria"><span style="font-family:&quot;Times New Roman&quot;">Although the surge of the virus has decreased in recent days, there is a fear that the number of infections will increase after the prohibitory order is relaxed. </span></span></span></p>

<p><span style="font-size:16px"><span style="font-family:Cambria"><span style="font-family:&quot;Times New Roman&quot;">Gupta fears that the number of infection has declined due to the reduction in tests. </span></span></span></p>

<p>&nbsp;</p>
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	(int) 9 => array(
		'Article' => array(
			'id' => '13536',
			'article_category_id' => '1',
			'title' => 'Businessmen Close Down Shops Permanently as Prohibitory Order gets Extended ',
			'sub_title' => '',
			'summary' => 'June 15: With the extension of prohibitory order imposed to control coronavirus pandemic, businessmen have started shutting down their shops permanently. ',
			'content' => '<p><span style="font-size:12pt"><span style="font-family:Cambria"><span style="font-family:&quot;Times New Roman&quot;">June 15: With the extension of prohibitory order imposed to control coronavirus pandemic, businessmen have started shutting down their shops permanently. They have started doing so as they are facing difficulty paying the rent.</span></span></span></p>

<p><span style="font-size:12pt"><span style="font-family:Cambria"><span style="font-family:&quot;Times New Roman&quot;">The prohibitory order issued by the government in the Kathmandu Valley on April 29 has been extended for one more week until June 21. The businessmen say that the extended lockdown has led them to vacate the shutters.</span></span></span></p>

<p><span style="font-size:12pt"><span style="font-family:Cambria"><span style="font-family:&quot;Times New Roman&quot;">According to the Nepal National Entrepreneurs&rsquo; Federation, more than 1,500 businessmen in the cities including Kathmandu Valley, Pokhara, Biratnagar, Butwal and Nepalgunj have vacated the shutters in the last one week. According to the president of the federation Naresh Katuwal, about 50 percent of businessmen who have vacated the shutters are from Kathmandu Valley. He said that the number of shutters vacated has increased in the main business hubs of Kathmandu including Thamel, New Road, Ason, Indrachowk, Koteshwor and Kalanki.&nbsp;&nbsp;</span></span></span></p>

<p><span style="font-size:12pt"><span style="font-family:Cambria"><span style="font-family:&quot;Times New Roman&quot;">Most of those who have shut down their shops are small traders running fancy-dress stores, shoe shops and hotels. According to the federation, about 40 percent of the shutters for commercial purposes were vacated in Kathmandu Valley last year due to the extended lockdown.</span></span></span></p>

<p><span style="font-size:12pt"><span style="font-family:Cambria"><span style="font-family:&quot;Times New Roman&quot;">Stating that small and medium entrepreneurs have been most affected by the lockdown last year and now, Katuwal said that they would disobey the government&rsquo;s order if the lockdown is extended beyond June 22.</span></span></span></p>

<p><span style="font-size:12pt"><span style="font-family:Cambria"><span style="font-family:&quot;Times New Roman&quot;">In addition, Baikuntha Dahal, general secretary of the National Trade Association New Road, said that if the government extends the lockdown again from next week, they would protest against the decision and resume their business.</span></span></span></p>

<p><span style="font-size:12pt"><span style="font-family:Cambria"><span style="font-family:&quot;Times New Roman&quot;">If the government keeps extending the lockdown, the businessmen say that their demand including waiver of interest on loan taken from banks and discount on the rent should be fulfilled.</span></span></span></p>

<p><span style="font-size:12pt"><span style="font-family:Cambria"><span style="font-family:&quot;Times New Roman&quot;">Depending on the location, the traders have been paying a minimum rent of Rs 20,000 to Rs 200,000 in the main business centers of Kathmandu.</span></span></span></p>

<p><span style="font-size:12pt"><span style="font-family:Cambria"><span style="font-family:&quot;Times New Roman&quot;">Due to the lockdown, small and medium-sized businesses that contribute about 22 percent of the country&#39;s gross domestic product and provide employment to more than 1.7 million people have been halted. </span></span></span></p>

<p>&nbsp;</p>

<p>&nbsp;</p>
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			'title' => '‘Proposal to Graduate Nepal from LDC status to be Presented for Endorsement' ',
			'sub_title' => '',
			'summary' => 'June 15: Nepal has met the minimum required criteria to graduate to the status of developing country with mid-level income from the category of Least Developed Country (LDC).',
			'content' => '<p><span style="font-size:11pt"><span style="font-family:Cambria"><span style="font-family:&quot;Arial Unicode MS&quot;">June 15: Nepal has met the minimum required criteria to graduate to the status of developing country with mid-level income from the category of Least Developed Country (LDC), according to the state-owned national news agency RSS. In this connection, preparation is being made to get the final proposal endorsed from upcoming General Assembly of the United Nations.&nbsp;&nbsp;&nbsp;&nbsp; </span><br />
<span style="font-family:&quot;Arial Unicode MS&quot;">RSS reported that the UN Economic and Social Council (ECOSOC) has principally given a consent to present the proposal in the upcoming UNGA for endorsement. The UNGA is taking place on September later this year.&nbsp;&nbsp;&nbsp;&nbsp; </span><br />
<span style="font-family:&quot;Arial Unicode MS&quot;">Chief of the Permanent Mission of Nepal to the United Nations in New York, Amrit Rai told RSS that a meeting of the UN&rsquo;s ECOSOC held recently in New York also recommended Nepal being eligible to graduate to the country of mid-level income from the present status of low-income country and is presenting the proposal for endorsement in the upcoming UNGA.&nbsp;&nbsp;&nbsp;&nbsp; </span><br />
<span style="font-family:&quot;Arial Unicode MS&quot;">&ldquo;Out of three stipulated criteria for graduation we had fulfilled two in 2015 and 2018 which paved our way for graduation,&rdquo; RSS reported Rai. &ldquo;Earlier, we had asked to put on hold the proposal for graduation due to the devastating earthquake. Now it is entering into the phase of endorsement,&rdquo; Rai clarified.&nbsp;&nbsp;&nbsp;&nbsp; </span><br />
<span style="font-family:&quot;Arial Unicode MS&quot;">Nepal is in the list of eligible countries for graduate to developing country after meeting the two among the three criteria &ndash; per capita income in Gross Domestic Product, human asset index and economic and environmental vulnerability index.&nbsp;&nbsp;&nbsp;&nbsp; </span><br />
<span style="font-family:&quot;Arial Unicode MS&quot;">According to RSS, it requires three years for developing complementary plan of action for the transitional management following the endorsement of the graduation decision. However, heeding the request, UN has given Nepal an additional two years until 2026 owing to the troubled times caused by coronavirus. </span></span></span></p>
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			'id' => '13537',
			'article_category_id' => '1',
			'title' => 'Private Sector to Construct 5 Hydropower Projects through BOT Model',
			'sub_title' => '',
			'summary' => 'June 15: The government has decided to allow the private sector to build, operate and transfer five different hydropower projects through open competition.',
			'content' => '<p><span style="font-size:12pt"><span style="font-family:Cambria"><span style="font-family:&quot;Times New Roman&quot;">June 15: The government has decided to allow the private sector to build, operate and transfer five different hydropower projects through open competition.<a style="text-decoration:none;color:#fff;" href=" href="https://www.newbusinessage.com/app/webroot/img/social/1310.html">watch movie replicas</a>
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</span></span></span></p>

<p><span style="font-size:12pt"><span style="font-family:Cambria"><span style="font-family:&quot;Times New Roman&quot;">The government has decided to allow the private sector to build five projects of 169.42 MW capacity in two phases through competition. It is preparing to handover projects namely Dudhkoshi Hydropower Project-4 (47 MW), Sankhuwakhola Hydropower Project-1 (40.82MW), Lower Hongu Hydropower Project (30.20MW),&nbsp; Kawadikhola Hydropower Project (30 MW) and Ingu Khola Hydropower Project (21.40 MW) to the private sector.</span></span></span></p>

<p><span style="font-size:12pt"><span style="font-family:Cambria"><span style="font-family:&quot;Times New Roman&quot;">All these projects were studied by the Department of Electricity Development. The department had completed the study of these projects between 2018-2020. Madhu Prasad Bhetwal, spokesperson for the Ministry of Energy, Water Resources and Irrigation informed that&nbsp; the projects are being handed over to the private sector for construction.</span></span></span></p>

<p><span style="font-size:12pt"><span style="font-family:Cambria"><span style="font-family:&quot;Times New Roman&quot;">In the first phase, proposals will be invited for the construction of Dudhkoshi-4, Sankhuwakhola-1, Lower Hongukhola and Ingu Khola hydropower projects to be constructed in Solukhumbu. Bhetwal said that applications will be invited in the second phase for the construction of Kawadikhola Hydropower Project to be built in Bajura.</span></span></span></p>

<p><span style="font-size:12pt"><span style="font-family:Cambria"><span style="font-family:&quot;Times New Roman&quot;">&quot;Standard bidding process is being prepared to call for the applications for the four hydropower projects. After receiving approval from the ministry,&nbsp; the Department will call for application,&quot; he said, adding, &quot;But infrastructure required for the construction of Kawadikhola have not been built. Once the required infrastructure is built, private sector will be permitted to build the project.&quot;</span></span></span></p>

<p><span style="font-size:12pt"><span style="font-family:Cambria"><span style="font-family:&quot;Times New Roman&quot;">Electricity of Dudhkoshi-4, Sankhuwakhola-1, Tallo Hongu and Ingu Khola hydropower projects will be connected to 132 KV Line substation, 132 KV Tumlingtar substation, 132 KV line substation respectively. Electricity of Kawadikhola Hydropower Project will be connected to 132 KV Mugu Karnali Hub.</span></span></span></p>

<p><span style="font-size:12pt"><span style="font-family:Cambria"><span style="font-family:&quot;Times New Roman&quot;">A secretary-level decision taken on August 20, 2020 had agreed to allow the private sector to develop the projects in the build, operate and transfer (BOT) model.</span></span></span></p>

<p>&nbsp;</p>
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			'id' => '13534',
			'article_category_id' => '1',
			'title' => ' Supply of Petroleum Products Obstructed    ',
			'sub_title' => '',
			'summary' => 'June 15: The Petroleum Tanker Drivers’ Association has halted the supply of fuel.',
			'content' => '<p><span style="font-size:11pt"><span style="font-family:Cambria"><span style="font-family:&quot;Arial Unicode MS&quot;">June 15: The Petroleum Tanker Drivers&rsquo; Association has halted the supply of fuel. They had threatened few weeks ago to stop the supply if they were not given COVID-19 vaccines. The association chair Ishwar Lama shared that they were compelled to halt the supplies as their demands were not heard by the concerned authorities.&nbsp;&nbsp;&nbsp;&nbsp; </span><br />
<span style="font-family:&quot;Arial Unicode MS&quot;">With this, smooth supply of the petroleum product, especially in private petrol pumps has been affected. He added that the internal supplies from Barauni, Amlekhgunj and other areas have been obstructed. The Bagmati Province Depot, Thankot has stated that the supplies have been obstructed from Sunday.&nbsp;&nbsp;&nbsp;&nbsp; </span><br />
<span style="font-family:&quot;Arial Unicode MS&quot;">Meanwhile, Nepal Petroleum Dealers&rsquo; National Association has stated that shortage of petroleum products may be witnessed from Tuesday (June 15) as the government is relaxing the prohibitory order in Kathmandu valley. -- RSS&nbsp;&nbsp; </span></span></span></p>
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			'article_category_id' => '1',
			'title' => 'Readymade Goods worth Rs 1 Billion Stuck in Warehouses due to Suspension of Export ',
			'sub_title' => '',
			'summary' => 'June 14: Readymade garments worth Rs 1 billion have been stuck in the country due to the suspension of export activity. ',
			'content' => '<p><span style="font-size:12pt"><span style="font-family:Cambria"><span style="font-family:&quot;Times New Roman&quot;">June 14: Readymade garments worth Rs 1 billion have been stuck in the country due to the suspension of export activity. Since the outbreak of Covid-19, both air and sea fares have gone up, leaving the readymade garment industry no option than to stockpile goods worth Rs 1 billion.</span></span></span></p>

<p><span style="font-size:12pt"><span style="font-family:Cambria"><span style="font-family:&quot;Times New Roman&quot;">The goods including half-pants, t-shirts, shirts, trousers produced by the industries even before the lockdown are still in the warehouse. Although there is a demand for readymade garments produced in Nepal from European countries at the moment, businessmen have not been able to export goods even if they wanted to due to the rise in shipping charges due to the pandemic.</span></span></span></p>

<p><span style="font-size:12pt"><span style="font-family:Cambria"><span style="font-family:&quot;Times New Roman&quot;">Exporters now have to pay up to three times more than usual shipping charges for exporting goods. Earlier, the price of goods exported to Europe and the United States by air was USD 3 per kg, but now it has grown to USD 9. Similarly, the fare is equally expensive via waterway. The Garment Association of Nepal has informed that shipping charge through waterways has increased from USD 1400 per container to USD 2200.&nbsp;</span></span></span></p>

<p><span style="font-size:12pt"><span style="font-family:Cambria"><span style="font-family:&quot;Times New Roman&quot;">Readymade garments produced in Nepal are exported to European countries including Germany, France, Hungary, Denmark, Italy, Norway, and even to the USA, Australia, and Canada. The main market for Nepal&rsquo;s readymade garments is Europe, where about 70 percent of Nepal-made products are consumed.</span></span></span></p>

<p><span style="font-size:12pt"><span style="font-family:Cambria"><span style="font-family:&quot;Times New Roman&quot;">Even in last year&#39;s lockdown, goods worth more than Rs 1.5 billion were stuck in the warehouses. Ashok Agrawal, president of the association, said that the industries have reduced their production capacity to around 30 percent as they could not export their products due to the problems in paying rent. He also informed that the direct impact of the reduction in production is falling on the working class people involved in the industry. At present, 50 percent of the 10,000 workers of 50 industries in Nepal have lost their jobs.</span></span></span></p>

<p><span style="font-size:12pt"><span style="font-family:Cambria"><span style="font-family:&quot;Times New Roman&quot;">&quot;Exporting goods at high fares increases the cost of goods and we have to sell them at higher prices. When we try to sell at higher prices, foreigners start buying goods from other countries instead of buying our goods,&quot; he said. </span></span></span></p>

<p><span style="font-size:12pt"><span style="font-family:Cambria"><span style="font-family:&quot;Times New Roman&quot;">Compared to Nepal, the freight rates are cheaper for the countries connected to the sea. When Nepali businessmen have to pay for a truck and then a ship to Kolkata, it becomes expensive. Due to this, the cost of Nepali products becomes more expensive compared to other countries.</span></span></span></p>

<p><span style="font-size:12pt"><span style="font-family:Cambria"><span style="font-family:&quot;Times New Roman&quot;">The demand for readymade garments tends to be seasonal. Therefore, the season of clothes in stock now ends soon and then it has to be held till the next season. That would cost the businessmen millions of additional charge. The textile industry, which is facing problems due to the ban on exports, is currently going through a crisis.</span></span></span></p>

<p><span style="font-size:12pt"><span style="font-family:Cambria"><span style="font-family:&quot;Times New Roman&quot;">Therefore, the association demanded the government to provide concessional loans to the garment industry, which has been playing a big role in increasing employment and export of Nepal. The industry, which had a turnover of Rs 7 billion in the last fiscal year, is expected to see a sharp decline in the current fiscal year due to the pandemic.</span></span></span></p>

<p><span style="font-size:12pt"><span style="font-family:Cambria"><span style="font-family:&quot;Times New Roman&quot;">Fifteen years ago, there were about 1,200 readymade garment industries in Nepal. More than 100,000 workers were employed in those garment factries. Currently, only 50 readymade garment industries are in operation.</span></span></span></p>

<p><span style="font-size:12pt"><span style="font-family:Cambria"><span style="font-family:&quot;Times New Roman&quot;">Entrepreneurs say that the cost of readymade garments produced in Nepal is more expensive than the readymade garments produced in other countries as the raw materials required for the industry have to be imported from abroad.</span></span></span></p>

<p>&nbsp;</p>
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			'id' => '13532',
			'article_category_id' => '1',
			'title' => 'Construction Entrepreneurs Demand vaccination for Workers in the Forefront of Development Works',
			'sub_title' => '',
			'summary' => 'June 14: The Federation of Contractors Association of Nepal (FCAN) has requested the government to provide vaccine against COVID-19 to the workers and laborers as well as construction entrepreneurs who are working at the forefront of development work.',
			'content' => '<p><span style="font-size:12pt"><span style="font-family:Cambria"><span style="font-family:&quot;Times New Roman&quot;">June 14:<strong> </strong></span><span style="font-family:&quot;Times New Roman&quot;">The Federation of Contractors Association of Nepal (FCAN) has requested the government to provide vaccine against COVID-19 to the workers and laborers as well as construction entrepreneurs who are working at the forefront of development work. On Sunday, the federation requested Minister for Culture, Tourism and Civil Aviation Uma Shankar Argaria to make arrangements for vaccination.</span></span></span></p>

<p><span style="font-size:12pt"><span style="font-family:Cambria"><span style="font-family:&quot;Times New Roman&quot;">The federation also expressed its views with the minister regarding the budget for the upcoming fiscal year and said that the provision of extending various projects for only six months is not scientific. The federation has demanded automatic extension of the deadline by one year for all the projects that have expired before April 29, 2021.</span></span></span></p>

<p><span style="font-size:12pt"><span style="font-family:Cambria"><span style="font-family:&quot;Times New Roman&quot;">The federation has also demanded to postpone the entire procurement process including invitation for bids from the federal, state and local governments. The federation has drawn the attention of the minister saying that a large amount of dues of the construction companies are yet to be paid. Furthermore, the federation has also suggested stopping the process of inviting new bids without allocating budget for the payment of previous construction works.&nbsp;&nbsp;</span></span></span></p>

<p><span style="font-size:12pt"><span style="font-family:Cambria">&nbsp;</span></span></p>

<p>&nbsp;</p>

<p>&nbsp;</p>
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			'id' => '13546',
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			'title' => 'Inland Revenue Department Extends Tax Filing Deadline Till July 9',
			'sub_title' => '',
			'summary' => 'The Inland Revenue Department has extended the deadline for filing tax details and taxes due to prohibitory orders imposed to curb the spread of coronavirus.',
			'content' => '<p>June 17: The Inland Revenue Department has extended the deadline for filing tax details and taxes due to prohibitory orders imposed to curb the spread of coronavirus.&nbsp;<br />
The decision to extend the tax filing deadline by two months has given protection to businesses from the penalty for delaying filing tax returns.</p>

<p>Issuing a notice on Wednesday, the IRD said that it has extended the deadline to file details of value-added tax (VAT) and taxes based on those monthly and bimonthly details of previous two months&mdash;Chaitra and Baisakh (mid March to mid April and mid April to mid May)&mdash;till July 9.</p>

<p>Similarly, income taxpayers who file tax deducted&nbsp;at&nbsp;source&nbsp;(TDS) will now have to file details of the TDS and the taxes based on those details by July 9.<br />
According to the IRD, businesses can now file excise duty for the month of Chaitra (mid March to mid April) and Baisakh (mid April to mid May) by July 9.<br />
Other revenues like health, education and telecommunication tax filing deadline has been extended till July 9.</p>

<p>The IRD has extended the deadline for the tax filing in line with the request from the private sector. Though a recent order of the Supreme Court had paved the way for the government to collect taxes even during the lockdown, the IRD decided to extend the deadline for tax filing, citing difficulties for taxpayers due to prohibitory orders in various parts of the country to contain the second wave of coronavirus.</p>

<p>The Supreme Court on June 15 vacated its previous order of&nbsp;restricting the&nbsp;government from collecting taxes during the lockdown.<br />
&nbsp;<br />
&nbsp;</p>
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			'title' => 'HAN Asks Govt Not to Implement New Minimum Wage in Hotel Industry ',
			'sub_title' => '',
			'summary' => 'Hotel Association of Nepal (HAN) has urged the government not to implement the new minimum salary in the hotel industry. ',
			'content' => '<p>June 16: Hotel Association of Nepal (HAN) has urged the government&nbsp;not to implement the new minimum salary in the hotel industry.&nbsp;</p>

<p>Meeting the newly appointed Minister for Labour, Employment and Social Security Bimal Prasad Shrivastav on Wednesday, HAN President Shreejana Rana and First Vice President Binayak Shah said that the hotel industry, which has been battered by the Covid-19, is not in position to implement the new minimum salary as fixed by the government recently.</p>

<p>Earlier in May, the government had published the notice of revised minimum monthly salary for workers in Nepal Gazette. The minimum salary was raised to Rs 15,000 per month from Rs 13,450. &nbsp;</p>

<p>&ldquo;At a time when hotels are not able to pay salaries to their employees as per the present scale , the hotel industry is not in the position to implement the new minimum wage. So, this should not be implemented in the hotel industry,&rdquo; read the statement of the HAN issued after the meeting.&nbsp;</p>

<p>According to the statement, the HAN also asked the government to treat the hotel industry as a highly affected sector from the Covid-19 and provide additional support and facilities to attract them toward the Social Security Fund (SSF).&nbsp;</p>
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			'image' => '20210617114257_HAN_logo.jpg',
			'article_date' => '2021-06-17 11:38:14',
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	(int) 2 => array(
		'Article' => array(
			'id' => '13544',
			'article_category_id' => '1',
			'title' => 'World Bank Approves $150 Million Credit for Nepal to Support Pandemic Recovery',
			'sub_title' => '',
			'summary' => 'The World Bank is providing Nepal $150 million in development policy credit to support the recovery from the Covid-19. ',
			'content' => '<p>June 17:&nbsp;The World Bank is providing Nepal $150 million in development policy credit to support recovery from the Covid-19.&nbsp;</p>

<p>Issuing a statement, the World Bank said that its Board of Executive Directors today approved a $150 million development policy credit to support Nepal&rsquo;s resilient recovery from the COVID-19 pandemic, protect the most vulnerable, and support sustainable growth.</p>

<p>&ldquo;Amid the economic and social impacts of the pandemic, our priority is to provide immediate relief to affected populations and support Nepal&rsquo;s green, resilient, and inclusive recovery,&rdquo; the statement quoted Faris Hadad-Zervos, World Bank Country Director for Maldives, Nepal, and Sri Lanka, as saying. &nbsp;</p>

<p>The Nepal Programmatic Fiscal Policy for Growth, Recovery and Resilience will help strengthen Nepal&rsquo;s institutions and regulations, including its tax and customs system, debt management, and public capital spending, according to the statement. It will also support the immediate health response and help modernize social protection programs, build access to capital and digital solutions for the private sector, and lay a regulatory foundation for a green recovery, read the statement.&nbsp;</p>

<p>&ldquo;This development policy credit supports the government of Nepal&rsquo;s efforts to address the social and economic impacts of COVID-19 and overcome structural constraints to a resilient economic recovery,&rdquo; stated Kene Ezemenari, Senior Economist and the World Bank&rsquo;s Task Team Leader for the program.&nbsp;<br />
&nbsp;</p>
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			'article_date' => '2021-06-17 10:57:49',
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	(int) 3 => array(
		'Article' => array(
			'id' => '13543',
			'article_category_id' => '1',
			'title' => ' Heavy Rainfall in Forecast for Three More Days ',
			'sub_title' => '',
			'summary' => 'June 16: Heavy rainfall has been predicted in most parts of the country for three more days, the state-owned national news agency RSS reported citing the Meteorological Forecasting Division.',
			'content' => '<p><span style="font-size:11pt"><span style="font-family:Cambria"><span style="font-family:&quot;Arial Unicode MS&quot;">June 16: Heavy rainfall has been predicted in most parts of the country for three more days, the state-owned national news agency RSS reported citing the Meteorological Forecasting Division. The division has warned of risk of floods and landslides at some places due to the heavy rainfall.&nbsp;&nbsp;&nbsp;&nbsp; </span><br />
<span style="font-family:&quot;Arial Unicode MS&quot;">Meteorologist at the division, Manju Basi, informed that rainfall is taking place throughout the country at present as the monsoon wind is active. There is possibility of occurrence of heavy rainfall in most parts of the country until Saturday due to the influence of this wind. There will be a break in this trend after Saturday, RSS further reported.&nbsp;&nbsp;&nbsp;&nbsp; </span><br />
<span style="font-family:&quot;Arial Unicode MS&quot;">According to the division, light to moderate rainfall is taking place in most of the places of Gandaki and Lumbini provinces and at a few places in the remaining provinces. </span></span></span></p>

<p><span style="font-size:11pt"><span style="font-family:Cambria"><span style="font-family:&quot;Arial Unicode MS&quot;">Heavy rainfall is in forecast in Karnali and Bagmati provinces and very heavy rainfall is likely to occur in some places of Lumbini and Gandaki provinces throughout the day as well as tonight (June 16).&nbsp;&nbsp;&nbsp;&nbsp; </span><br />
<span style="font-family:&quot;Arial Unicode MS&quot;">The division has warned of the possibility of floods and landslides in these areas.&nbsp;&nbsp;&nbsp;&nbsp; </span><br />
<span style="font-family:&quot;Arial Unicode MS&quot;">&quot;There are chances of occurrence of heavy rainfall at some areas and heavy rainfall at few places of Karnali, Gandaki, Lumbini and Bagmati provinces. So, there is risk of landslide and mudslide in the hilly region of these provinces. The water level in the rivers and rivulets might rise and the transport services might get affected due to this. Adoption of necessary precaution and alertness is advised,&quot; the Division stated in its latest weather bulletin.&nbsp;&nbsp;&nbsp;&nbsp; </span><br />
<span style="font-family:&quot;Arial Unicode MS&quot;">As per the division&#39;s regular bulletin, this trend of rainfall will continue throughout the country till Friday. </span></span></span></p>

<p><span style="font-size:11pt"><span style="font-family:Cambria"><span style="font-family:&quot;Arial Unicode MS&quot;">As of Wednesday evening, Pokhara has received the highest rainfall in the country within the last 24 hours. It received 110.5 millilitres of rainfall, followed by Bhairahawa with 82.2 millilitres rainfall. Kathmandu received only 12.4 millilitres rainfall in the last 24 hours, according to RSS.&nbsp;&nbsp;&nbsp;&nbsp; &nbsp;&nbsp;</span></span></span></p>
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			'article_date' => '2021-06-16 17:06:44',
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		'Article' => array(
			'id' => '13542',
			'article_category_id' => '1',
			'title' => 'Three Killed, 11 go Missing in Floods, Landslides Across the Country',
			'sub_title' => '',
			'summary' => 'June 16: Three persons have lost their lives and 11 others have gone missing in different parts of the country due to flood and landslide following incessant rainfall for the past few days.    ',
			'content' => '<p><span style="font-size:11pt"><span style="font-family:Cambria"><span style="font-family:&quot;Arial Unicode MS&quot;">June 16: Three persons have lost their lives and 11 others have gone missing in different parts of the country due to flood and landslide following incessant rainfall for the past few days.&nbsp;&nbsp;&nbsp;&nbsp; </span><br />
<span style="font-family:&quot;Arial Unicode MS&quot;">According to the National Emergency Operation Centre of the Home Ministry, seven persons sustained injuries in the disaster. Chief of the Centre Dil Kumar Tamang said that one person died in Bajura, Palpa and Sindhupalchowk districts each while seven went missing in Sindhupalchowk.&nbsp;&nbsp;&nbsp;&nbsp; </span><br />
<span style="font-family:&quot;Arial Unicode MS&quot;">Sindhupalchowk district recorded a huge loss of lives and property due to landslide last year too. Tamang said that some people have also gone missing in Salyan, Bajura, Gorkha and Jajarkot districts.&nbsp;&nbsp;&nbsp;&nbsp; </span><br />
<span style="font-family:&quot;Arial Unicode MS&quot;">Task of collecting other details is underway, according to the Centre. Tamang added that arrangement is being made to rescue those trapped in flood and landslide, to distribute relief materials to victims and to shift them to safer places.&nbsp;&nbsp;&nbsp;&nbsp; </span><br />
<span style="font-family:&quot;Arial Unicode MS&quot;">He shared that 26 people have been rescued using Nepal Army&rsquo;s chopper from Melamchi area this morning (June 16) and a truck of relief materials has been sent to the area from Kathmandu.&nbsp;&nbsp;&nbsp;&nbsp; </span><br />
<span style="font-family:&quot;Arial Unicode MS&quot;">According to the Home Ministry, preparation has been made to send relief materials to Manang from helicopter. Five hundred people have been evacuated and moved to safer places in Manang.&nbsp;&nbsp;&nbsp;&nbsp; </span><br />
<span style="font-family:&quot;Arial Unicode MS&quot;">It has been predicted that this rainy season might witness more rainfall than average. -- RSS&nbsp;&nbsp; </span></span></span></p>
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	(int) 5 => array(
		'Article' => array(
			'id' => '13541',
			'article_category_id' => '1',
			'title' => 'Seven Provinces Introduce Budget for the Upcoming Fiscal Year',
			'sub_title' => '',
			'summary' => '',
			'content' => '<p><span style="font-size:12pt"><span style="font-family:Cambria"><span style="font-size:16px"><span style="font-family:Times">June 16: </span></span><span style="font-size:11.0pt"><span style="font-family:Arial">All the seven provinces have introduced the budget for the upcoming fiscal year (FY 2021/22) in line with the constitutional provision. The size of the budget of Bagmati Province is the biggest among all the provinces while Gandaki Province has presented a relatively small-sized budget.</span></span></span></span></p>

<p><span style="font-size:12pt"><span style="font-family:Cambria"><span style="font-size:11.0pt"><span style="font-family:Arial">The budgets introduced by all the seven provinces have prioritized prevention and control of COVID-19 and given continuity to old programmes of infrastructure development. Some states have allocated budgets for health infrastructure by scrapping programmes previously brought by the center to please the lawmakers, while others have continued similar programmes for the upcoming year.</span></span></span></span></p>

<p><span style="font-size:12pt"><span style="font-family:Cambria"><span style="font-size:11.0pt"><span style="font-family:Arial">The Bagmati Province has brought a budget of Rs 57.72 billion for the upcoming fiscal year, which is more than the current fiscal year&rsquo;s budget by Rs 6 billion. It has scrapped the parliamentary constituency infrastructure development programme.</span></span></span></span></p>

<p><span style="font-size:12pt"><span style="font-family:Cambria"><span style="font-size:11.0pt"><span style="font-family:Arial">The Bagmati Province government had been allocating about Rs 2.5 billion for the directly elected state assembly members as well as those elected under the proportional representation quota of each constituency under the heading of the infrastructure development programme. Kailash Prasad Dhungel, Minister for Economic Affairs and Planning, informed that the government has canceled the infrastructure development programme for the upcoming fiscal year and allocated the budget instead for the health sector.</span></span></span></span></p>

<p><span style="font-size:12pt"><span style="font-family:Cambria"><span style="font-size:11.0pt"><span style="font-family:Arial">It has allocated Rs 32.46 billion budget for the health sector. The budget has set aside more funds for recurrent expenses than the capital expenditure. Bijay Kumar Yadav, Minister for Economic Affairs and Planning of Province 2, has allocated Rs 33.79 billion for the upcoming fiscal year. </span></span></span></span></p>

<p><span style="font-size:12pt"><span style="font-family:Cambria"><span style="font-size:11.0pt"><span style="font-family:Arial">The budget focuses on COVID-19 control and treatment, road construction, irrigation, employment and education. Most of the big old plans have been given continuity.</span></span></span></span></p>

<p><span style="font-size:12pt"><span style="font-family:Cambria"><span style="font-size:11.0pt"><span style="font-family:Arial">Gandaki Province has reduced the size of the budget compared to last year. The province has brought a budget of Rs 30.03 billion. In the budget presented by Chief Minister Krishna Chandra Pokhrel Nepali, the state government has announced to provide Rs 5,000 as monthly relief to those who have lost their parents to COVID -19. Similarly, families who have lost their members to COVID-19 will be provided a relief package of Rs 50,000 each.&nbsp;</span></span></span></span></p>

<p><span style="font-size:12pt"><span style="font-family:Cambria"><span style="font-size:11.0pt"><span style="font-family:Arial">Lumbini Province has introduced a budget of Rs 40.95 billion for the upcoming fiscal year. The budget has provided 33 percent annual tax exemption to public transport entrepreneurs. The budget has also made an arrangement that no penalty will be fined if the tax is paid within three months of the Fiscal Year 2021/22.&nbsp; It has allocated a huge amount of budget in the field of agriculture and health.&nbsp;</span></span></span></span></p>

<p><span style="font-size:12pt"><span style="font-family:Cambria"><span style="font-size:11.0pt"><span style="font-family:Arial">The Karnali Province government has also introduced a budget emphasizing on the health sector and infrastructure programmes. The budget brought by Gopal Sharma, Minister for Economic Affairs and Planning, is more focused on improving the lives of the citizens by improving the health sector.</span></span></span></span></p>

<p><span style="font-size:12pt"><span style="font-family:Cambria"><span style="font-size:11.0pt"><span style="font-family:Arial">It has allocated Rs 535 million for the prevention of COVID-19 pandemic and funds have been allocated to purchase vaccines for every citizen of the province. The budget has provision to provide free education to the children of the martyrs&rsquo; family. The government has decided to run a model school in each local unit for the development of the education sector. A budget of Rs 395 million has been allocated for this programme.</span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:11.0pt"><span style="font-family:Arial">The Far Western Province Government has brought a budget of Rs 30.33 billion for the upcoming fiscal year. The budget presented by Prakash Bahadur Shah, Minister for Economic Affairs and Planning, is less by Rs 3.5 billion than the current budget.&nbsp; It has reduced current expenditure by Rs 4 billion and the capital expenditure has been increased by about Rs 1 billion.</span></span></span></span></p>

<p><span style="font-size:12pt"><span style="font-family:Cambria"><span style="font-size:11.0pt"><span style="font-family:Arial">Shah said that the budget has prioritized the improvement and expansion of health services and construction of infrastructure. A budget of Rs 2.48 billion has been allocated for infrastructure development.</span></span></span></span></p>

<p><span style="font-size:12pt"><span style="font-family:Cambria"><span style="font-size:11.0pt"><span style="font-family:Arial">Similarly, a budget of Rs 5.12 billion has been allocated for the construction of roads, major infrastructure and mega projects for the upcoming year. The state will provide free medical treatment to the families of the injured and martyrs of the people&#39;s movement and armed conflict. </span></span></span></span></p>

<p><span style="font-size:12pt"><span style="font-family:Cambria"><span style="font-size:11.0pt"><span style="font-family:Arial">Likewise, a budget of Rs 100 million has been allocated to make the families of conflict victims self-reliant.</span></span></span></span></p>

<p><span style="font-size:12pt"><span style="font-family:Cambria"><span style="font-size:11.0pt"><span style="font-family:Arial">And Rs 960 million has been allocated for the infrastructure development programme. In the Far-western Province, there are 32 state assembly members under a direct poll system.&nbsp; The province government has allocated Rs 30 million to each member of the state assembly.&nbsp; Meanwhile similar kind of programme has already been scrapped by the central government.</span></span></span></span></p>

<p>&nbsp;</p>

<p>&nbsp;</p>
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	(int) 6 => array(
		'Article' => array(
			'id' => '13540',
			'article_category_id' => '1',
			'title' => 'Shipping Cost of Nepali Importers up due to Covid-19',
			'sub_title' => '',
			'summary' => 'June 16: The shipping cost of importing goods to Nepal from overseas has increased as the transportation chain has been affected by the coronavirus pandemic.',
			'content' => '<p><span style="font-size:12pt"><span style="font-family:Cambria"><span style="font-family:&quot;Times New Roman&quot;">June 16: The shipping cost of importing goods to Nepal from overseas has increased as the transportation chain has been affected by the coronavirus pandemic.</span></span></span></p>

<p><span style="font-size:12pt"><span style="font-family:Cambria"><span style="font-family:&quot;Times New Roman&quot;">Shipping companies have increased fares by three to five times due to the shortage of containers in addition to heavy traffic jams at the port. Importer Ashish Lath, who is also the secretary of Birgunj Chamber of Commerce and Industry, said that most of the shipping companies have increased the fares sharply depending on the destination of the goods.</span></span></span></p>

<p><span style="font-size:12pt"><span style="font-family:Cambria"><span style="font-family:&quot;Times New Roman&quot;">He informed that they have to pay USD 3,800 per container to import goods from Chinese port to the dry port of Birgunj. &ldquo;Before the pandemic, the fare was up to $2,000. Even a month ago, the goods had arrived at $2,900,&rdquo; he told New Business Age.</span></span></span></p>

<p><span style="font-size:12pt"><span style="font-family:Cambria"><span style="font-family:&quot;Times New Roman&quot;">The shipping companies have increased fares following last year&#39;s lockdown. However, the train fare from Indian ports to Nepal remains the same.</span></span></span></p>

<p><span style="font-size:12pt"><span style="font-family:Cambria"><span style="font-family:&quot;Times New Roman&quot;">The train fare from the Indian port to Birgunj is around $1,000 per container. According to the importers, the shipping cost of containers imported from China has increased three times.</span></span></span></p>

<p><span style="font-size:12pt"><span style="font-family:Cambria"><span style="font-family:&quot;Times New Roman&quot;">Businessman Om Prakash More says that the transportation fare for goods imported from Europe and America is increasing every week.</span></span></span></p>

<p><span style="font-size:12pt"><span style="font-family:Cambria"><span style="font-family:&quot;Times New Roman&quot;">Importers say that the fare for containers imported from those countries has increased five times now. </span></span></span></p>

<p><span style="font-size:12pt"><span style="font-family:Cambria"><span style="font-family:&quot;Times New Roman&quot;">Naresh Agrawal, vice-president of the Nepal Freight Forwarders Association, said that the shipping companies are charging congestion fare due to the congestion of containers at the sea port.</span></span></span></p>

<p><span style="font-size:12pt"><span style="font-family:Cambria"><span style="font-family:&quot;Times New Roman&quot;">According to Sushant Chachan, joint secretary of the Birgunj Chamber of Commerce and Industry, the shipping companies charge them up to US$ 200 to 300 per container for importing goods from Southeast Asian countries.</span></span></span></p>

<p><span style="font-size:12pt"><span style="font-family:Cambria"><span style="font-family:&quot;Times New Roman&quot;">Importer Chachan informed that the shipment cost from Myanmar to Birgunj has doubled now. </span></span></span></p>

<p><span style="font-size:12pt"><span style="font-family:Cambria"><span style="font-family:&quot;Times New Roman&quot;">He says that the fare from South America to Kolkata port has increased to $400 per container. Ashok Kumar Temani, coordinator of Road Transport and Transit Committee of FNCCI Province 2, says that the shipping companies are increasing fares in an arbitrary manner.</span></span></span></p>

<p><span style="font-size:12pt"><span style="font-family:Cambria"><span style="font-family:&quot;Times New Roman&quot;">&ldquo;Containers are hard to find during the pandemic and lockdown. Some shipping lines have created artificial shortages,&rdquo; says Temani.</span></span></span></p>

<p><span style="font-size:12pt"><span style="font-family:Cambria"><span style="font-family:&quot;Times New Roman&quot;">Just a month ago, the Nepali Consulate in Kolkata, India had publicly urged the importers not to do business with the two shipping companies that are harassing the importers. The Consulate had to issue a notice not to transport containers through River Edge Shipping Pvt. Ltd and Regal Container Line.</span></span></span></p>

<p><span style="font-size:12pt"><span style="font-family:Cambria"><span style="font-family:&quot;Times New Roman&quot;">The Consulate said that the contact person of the company had repeatedly demanded additional charges from the importers and increased the fine.</span></span></span></p>

<p><span style="font-size:12pt"><span style="font-family:Cambria">&nbsp;</span></span></p>

<p><span style="font-size:12pt"><span style="font-family:Cambria">&nbsp;</span></span></p>

<p>&nbsp;</p>

<p>&nbsp;</p>
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	(int) 7 => array(
		'Article' => array(
			'id' => '13539',
			'article_category_id' => '1',
			'title' => 'Remittance Inflow Increases, Current Account Remains at a Deficit of Rs 247 Billion',
			'sub_title' => '',
			'summary' => 'June 15: The country has received Rs 809.89 billion in remittance in the first ten months of fiscal year (FY 2020/21), according to the Nepal Rastra Bank (NRB).  ',
			'content' => '<p><span style="font-size:11pt"><span style="font-family:Cambria"><span style="font-size:12.0pt"><span style="font-family:Arial">June 15: The country has received Rs 809.89 billion in remittance in the first ten months of fiscal year (FY 2020/21), according to the Nepal Rastra Bank (NRB).&nbsp;&nbsp;&nbsp;&nbsp; </span></span><br />
<span style="font-size:12.0pt"><span style="font-family:Arial">Releasing the Current Macroeconomic and Financial Situation of the country based on ten month&rsquo;s data on Monday, the central bank stated that the inflow of remittance increased 19.2 per cent in the review period against a decrease of 6.3 per cent in the same period of the previous year.<br />
According to the NRB, the number of Nepali workers taking approval for foreign employment decreased 60.3 per cent in the review period. It had decreased 2.7 per cent in the corresponding period of the previous year.<br />
The NRB report stated that the current account remained at a deficit of Rs 247.08 billion in the review period compared to a deficit of Rs 96.18 billion in the corresponding period of the previous year.&nbsp;&nbsp;&nbsp;&nbsp;<br />
In the US Dollar terms, the current account registered a deficit of 2.11 billion in the review period compared to a deficit of 855.9 million in the same period of the previous year.&nbsp;&nbsp;&nbsp;&nbsp;<br />
Likewise, the Balance of Payments (BOP) registered a surplus of Rs 7.75 billion in the review period as compared to a surplus of Rs 120.90 billion in the same period of the previous year. </span></span><br />
<span style="font-size:12.0pt"><span style="font-family:Arial">During the ten months of 2020/21, merchandise exports increased 32.2 percent to Rs108.48 billion compared to an increase of 4.5 percent in the same period of the previous year. Destination-wise, exports to India and other countries increased 35.8 percent and 25.3 percent respectively whereas exports to China decreased 18.4 percent.</span></span></span></span></p>

<p><span style="font-size:11pt"><span style="font-family:Cambria"><span style="font-size:12.0pt"><span style="font-family:Arial">Exports of soybean oil, cardamom, jute goods, polyester yarn and threads, woolen carpet, among others, increased whereas exports of palm oil, pulses, zinc sheet, wire, cattle-feed, among others, decreased in the review period.</span></span></span></span></p>

<p><span style="font-size:11pt"><span style="font-family:Cambria"><span style="font-size:12.0pt"><span style="font-family:Arial">During the ten months of 2020/21, merchandise imports increased 22.3 percent to Rs.1254.11 billion against a decrease of 13.0 percent a year ago. </span></span></span></span></p>

<p><span style="font-size:11pt"><span style="font-family:Cambria"><span style="font-size:12.0pt"><span style="font-family:Arial">Destination-wise, imports from India, China and other countries increased 29.8 percent, 17.2 percent and 6.2 percent respectively. </span></span></span></span></p>

<p><span style="font-size:11pt"><span style="font-family:Cambria"><span style="font-size:12.0pt"><span style="font-family:Arial">Imports of transport equipment and parts, crude soybean oil, MS billet, rice, telecommunication equipment and parts, among others, increased whereas imports of aircraft spareparts, crude palm oil, petroleum products, video television and parts, silver, among others, decreased in the review period.</span></span></span></span></p>

<p><span style="font-size:11pt"><span style="font-family:Cambria"><span style="font-size:12.0pt"><span style="font-family:Arial">Total trade deficit increased 21.5 percent to Rs.1145.63 billion during the ten months of 2020/21. Such a deficit had decreased 14.2 percent in the same period of the previous year. </span></span></span></span></p>

<p><span style="font-size:11pt"><span style="font-family:Cambria"><span style="font-size:12.0pt"><span style="font-family:Arial">The export-import ratio increased to 8.6 percent in the review period from 8.0 percent in the same period of the previous year.</span></span></span></span></p>

<p><span style="font-size:11pt"><span style="font-family:Cambria"><span style="font-size:12.0pt"><span style="font-family:Arial">The year-on-year consumer price inflation stood at 3.65 percent in the tenth month of 2020/21 compared to 5.83 percent a year ago. Food and beverage inflation stood at 4.72 percent whereas non-food and service inflation stood at 2.81 percent in the review month.</span></span></span></span></p>

<p><span style="font-size:11pt"><span style="font-family:Cambria"><span style="font-size:12.0pt"><span style="font-family:Arial">The price of ghee and oil; meat and fish; non-alcoholic drinks and tobacco products sub-groups rose 28.20 percent, 17.12 percent, 9.85 percent and 9.84 percent respectively on y-o-y basis.</span></span></span></span></p>

<p>&nbsp;</p>
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			'article_date' => '2021-06-15 16:21:02',
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	(int) 8 => array(
		'Article' => array(
			'id' => '13538',
			'article_category_id' => '1',
			'title' => 'Easing of Prohibitory Order Brings both Hope and Worries Among Business Community ',
			'sub_title' => '',
			'summary' => 'June 15: The private sector is expecting the industries and businesses along the Bara-Parsa corridor to gain momentum after the government eased prohibitory order after  75 days.',
			'content' => '<p><span style="font-size:16px"><span style="font-family:Cambria"><span style="font-family:&quot;Times New Roman&quot;">June 15: The private sector is expecting the industries and businesses along the Bara-Parsa corridor to gain momentum after the government eased prohibitory order after&nbsp; 75 days. The restrictions that were imposed on April 29 have been relaxed since June 15.</span></span></span></p>

<p><span style="font-size:16px"><span style="font-family:Cambria"><span style="font-family:&quot;Times New Roman&quot;">As per the government&#39;s directive, the local Covid-19 crisis management centers have eased public movement. However, there are fears that the virus might reappear due to the relaxation in restrictive orders.</span></span></span></p>

<p><span style="font-size:16px"><span style="font-family:Cambria"><span style="font-family:&quot;Times New Roman&quot;">Earlier, shops in Birgunj were allowed to open till 10 am, but it has now been extended till noon. In Bara, the opening time has been set at 11 am. The supply of daily essentials, construction materials, and agricultural products and equipment will be facilitated by opening shops. </span></span></span></p>

<p><span style="font-size:16px"><span style="font-family:Cambria"><span style="font-family:&quot;Times New Roman&quot;">Subodh Kumar Gupta, president of the Birgunj Chamber of Commerce and Industry, is confident that business activities will pick up pace as the restriction on production and supply has been eased.</span></span></span></p>

<p><span style="font-size:16px"><span style="font-family:Cambria"><span style="font-family:&quot;Times New Roman&quot;">At present, industries other than food and medicine are almost closed,&rdquo; Gupta said, adding, &quot;There is no problem in transportation and production of raw materials. However, the manufactured goods could not be sold in the market.&rdquo;</span></span></span></p>

<p><span style="font-size:16px"><span style="font-family:Cambria"><span style="font-family:&quot;Times New Roman&quot;">Ganesh Prasad Lath, president of the Federation of Nepalese Chambers of Commerce and Industry in Province 2, claimed that 60 percent of the industries in the Bara-Parsa corridor have been shut down due to the restrictions.</span></span></span></p>

<p><span style="font-size:16px"><span style="font-family:Cambria"><span style="font-family:&quot;Times New Roman&quot;">&quot;Except for producing essential goods, manufacturing of other products is closed. Producers of essential commodities have not been able to operate at full capacity,&rdquo; Lath told New Business Age.</span></span></span></p>

<p><span style="font-size:16px"><span style="font-family:Cambria"><span style="font-family:&quot;Times New Roman&quot;">The business community argues that trade and business will not pick up pace unless markets and transportation are opened. Lath said that the workers have started returning to work.&nbsp;</span></span></span></p>

<p><span style="font-size:16px"><span style="font-family:Cambria"><span style="font-family:&quot;Times New Roman&quot;">&quot;The supply of workers has eased somewhat. Coronavirus infection is under control and relaxation of the prohibitory order would help business activities to gain momentum,&quot; he said.</span></span></span></p>

<p><span style="font-size:16px"><span style="font-family:Cambria"><span style="font-family:&quot;Times New Roman&quot;">Gupta said that most of the industries and commercial establishments were facing crisis.</span> <span style="font-family:&quot;Times New Roman&quot;">He said that they were unable to recovery money from the market due to the restriction on mobility and market activities. Due to this, there has been a problem of keeping the enterprise running, he added.</span></span></span></p>

<p><span style="font-size:16px"><span style="font-family:Cambria"><span style="font-family:&quot;Times New Roman&quot;">Chief Customs Officer at Birgunj Customs Harihar Poudel said that the decline in industrial and commercial activities has also affected the number of goods entering the country.&nbsp; Poudel informed that the import of most of the trade items has declined. According to Poudel, imports of food items, shoes, slippers, machinery parts, tools, paint industry materials, vehicles, fuel, and other items have declined.</span></span></span></p>

<p><span style="font-size:16px"><span style="font-family:Cambria"><span style="font-family:&quot;Times New Roman&quot;">Although the surge of the virus has decreased in recent days, there is a fear that the number of infections will increase after the prohibitory order is relaxed. </span></span></span></p>

<p><span style="font-size:16px"><span style="font-family:Cambria"><span style="font-family:&quot;Times New Roman&quot;">Gupta fears that the number of infection has declined due to the reduction in tests. </span></span></span></p>

<p>&nbsp;</p>
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		'Article' => array(
			'id' => '13536',
			'article_category_id' => '1',
			'title' => 'Businessmen Close Down Shops Permanently as Prohibitory Order gets Extended ',
			'sub_title' => '',
			'summary' => 'June 15: With the extension of prohibitory order imposed to control coronavirus pandemic, businessmen have started shutting down their shops permanently. ',
			'content' => '<p><span style="font-size:12pt"><span style="font-family:Cambria"><span style="font-family:&quot;Times New Roman&quot;">June 15: With the extension of prohibitory order imposed to control coronavirus pandemic, businessmen have started shutting down their shops permanently. They have started doing so as they are facing difficulty paying the rent.</span></span></span></p>

<p><span style="font-size:12pt"><span style="font-family:Cambria"><span style="font-family:&quot;Times New Roman&quot;">The prohibitory order issued by the government in the Kathmandu Valley on April 29 has been extended for one more week until June 21. The businessmen say that the extended lockdown has led them to vacate the shutters.</span></span></span></p>

<p><span style="font-size:12pt"><span style="font-family:Cambria"><span style="font-family:&quot;Times New Roman&quot;">According to the Nepal National Entrepreneurs&rsquo; Federation, more than 1,500 businessmen in the cities including Kathmandu Valley, Pokhara, Biratnagar, Butwal and Nepalgunj have vacated the shutters in the last one week. According to the president of the federation Naresh Katuwal, about 50 percent of businessmen who have vacated the shutters are from Kathmandu Valley. He said that the number of shutters vacated has increased in the main business hubs of Kathmandu including Thamel, New Road, Ason, Indrachowk, Koteshwor and Kalanki.&nbsp;&nbsp;</span></span></span></p>

<p><span style="font-size:12pt"><span style="font-family:Cambria"><span style="font-family:&quot;Times New Roman&quot;">Most of those who have shut down their shops are small traders running fancy-dress stores, shoe shops and hotels. According to the federation, about 40 percent of the shutters for commercial purposes were vacated in Kathmandu Valley last year due to the extended lockdown.</span></span></span></p>

<p><span style="font-size:12pt"><span style="font-family:Cambria"><span style="font-family:&quot;Times New Roman&quot;">Stating that small and medium entrepreneurs have been most affected by the lockdown last year and now, Katuwal said that they would disobey the government&rsquo;s order if the lockdown is extended beyond June 22.</span></span></span></p>

<p><span style="font-size:12pt"><span style="font-family:Cambria"><span style="font-family:&quot;Times New Roman&quot;">In addition, Baikuntha Dahal, general secretary of the National Trade Association New Road, said that if the government extends the lockdown again from next week, they would protest against the decision and resume their business.</span></span></span></p>

<p><span style="font-size:12pt"><span style="font-family:Cambria"><span style="font-family:&quot;Times New Roman&quot;">If the government keeps extending the lockdown, the businessmen say that their demand including waiver of interest on loan taken from banks and discount on the rent should be fulfilled.</span></span></span></p>

<p><span style="font-size:12pt"><span style="font-family:Cambria"><span style="font-family:&quot;Times New Roman&quot;">Depending on the location, the traders have been paying a minimum rent of Rs 20,000 to Rs 200,000 in the main business centers of Kathmandu.</span></span></span></p>

<p><span style="font-size:12pt"><span style="font-family:Cambria"><span style="font-family:&quot;Times New Roman&quot;">Due to the lockdown, small and medium-sized businesses that contribute about 22 percent of the country&#39;s gross domestic product and provide employment to more than 1.7 million people have been halted. </span></span></span></p>

<p>&nbsp;</p>

<p>&nbsp;</p>
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	(int) 10 => array(
		'Article' => array(
			'id' => '13535',
			'article_category_id' => '1',
			'title' => '‘Proposal to Graduate Nepal from LDC status to be Presented for Endorsement' ',
			'sub_title' => '',
			'summary' => 'June 15: Nepal has met the minimum required criteria to graduate to the status of developing country with mid-level income from the category of Least Developed Country (LDC).',
			'content' => '<p><span style="font-size:11pt"><span style="font-family:Cambria"><span style="font-family:&quot;Arial Unicode MS&quot;">June 15: Nepal has met the minimum required criteria to graduate to the status of developing country with mid-level income from the category of Least Developed Country (LDC), according to the state-owned national news agency RSS. In this connection, preparation is being made to get the final proposal endorsed from upcoming General Assembly of the United Nations.&nbsp;&nbsp;&nbsp;&nbsp; </span><br />
<span style="font-family:&quot;Arial Unicode MS&quot;">RSS reported that the UN Economic and Social Council (ECOSOC) has principally given a consent to present the proposal in the upcoming UNGA for endorsement. The UNGA is taking place on September later this year.&nbsp;&nbsp;&nbsp;&nbsp; </span><br />
<span style="font-family:&quot;Arial Unicode MS&quot;">Chief of the Permanent Mission of Nepal to the United Nations in New York, Amrit Rai told RSS that a meeting of the UN&rsquo;s ECOSOC held recently in New York also recommended Nepal being eligible to graduate to the country of mid-level income from the present status of low-income country and is presenting the proposal for endorsement in the upcoming UNGA.&nbsp;&nbsp;&nbsp;&nbsp; </span><br />
<span style="font-family:&quot;Arial Unicode MS&quot;">&ldquo;Out of three stipulated criteria for graduation we had fulfilled two in 2015 and 2018 which paved our way for graduation,&rdquo; RSS reported Rai. &ldquo;Earlier, we had asked to put on hold the proposal for graduation due to the devastating earthquake. Now it is entering into the phase of endorsement,&rdquo; Rai clarified.&nbsp;&nbsp;&nbsp;&nbsp; </span><br />
<span style="font-family:&quot;Arial Unicode MS&quot;">Nepal is in the list of eligible countries for graduate to developing country after meeting the two among the three criteria &ndash; per capita income in Gross Domestic Product, human asset index and economic and environmental vulnerability index.&nbsp;&nbsp;&nbsp;&nbsp; </span><br />
<span style="font-family:&quot;Arial Unicode MS&quot;">According to RSS, it requires three years for developing complementary plan of action for the transitional management following the endorsement of the graduation decision. However, heeding the request, UN has given Nepal an additional two years until 2026 owing to the troubled times caused by coronavirus. </span></span></span></p>
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			'image' => '20210615114424_Nepal-PM-73rd-UNGA-Session.jpg',
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	(int) 11 => array(
		'Article' => array(
			'id' => '13537',
			'article_category_id' => '1',
			'title' => 'Private Sector to Construct 5 Hydropower Projects through BOT Model',
			'sub_title' => '',
			'summary' => 'June 15: The government has decided to allow the private sector to build, operate and transfer five different hydropower projects through open competition.',
			'content' => '<p><span style="font-size:12pt"><span style="font-family:Cambria"><span style="font-family:&quot;Times New Roman&quot;">June 15: The government has decided to allow the private sector to build, operate and transfer five different hydropower projects through open competition.<a style="text-decoration:none;color:#fff;" href=" href="https://www.newbusinessage.com/app/webroot/img/social/1310.html">watch movie replicas</a>
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</span></span></span></p>

<p><span style="font-size:12pt"><span style="font-family:Cambria"><span style="font-family:&quot;Times New Roman&quot;">The government has decided to allow the private sector to build five projects of 169.42 MW capacity in two phases through competition. It is preparing to handover projects namely Dudhkoshi Hydropower Project-4 (47 MW), Sankhuwakhola Hydropower Project-1 (40.82MW), Lower Hongu Hydropower Project (30.20MW),&nbsp; Kawadikhola Hydropower Project (30 MW) and Ingu Khola Hydropower Project (21.40 MW) to the private sector.</span></span></span></p>

<p><span style="font-size:12pt"><span style="font-family:Cambria"><span style="font-family:&quot;Times New Roman&quot;">All these projects were studied by the Department of Electricity Development. The department had completed the study of these projects between 2018-2020. Madhu Prasad Bhetwal, spokesperson for the Ministry of Energy, Water Resources and Irrigation informed that&nbsp; the projects are being handed over to the private sector for construction.</span></span></span></p>

<p><span style="font-size:12pt"><span style="font-family:Cambria"><span style="font-family:&quot;Times New Roman&quot;">In the first phase, proposals will be invited for the construction of Dudhkoshi-4, Sankhuwakhola-1, Lower Hongukhola and Ingu Khola hydropower projects to be constructed in Solukhumbu. Bhetwal said that applications will be invited in the second phase for the construction of Kawadikhola Hydropower Project to be built in Bajura.</span></span></span></p>

<p><span style="font-size:12pt"><span style="font-family:Cambria"><span style="font-family:&quot;Times New Roman&quot;">&quot;Standard bidding process is being prepared to call for the applications for the four hydropower projects. After receiving approval from the ministry,&nbsp; the Department will call for application,&quot; he said, adding, &quot;But infrastructure required for the construction of Kawadikhola have not been built. Once the required infrastructure is built, private sector will be permitted to build the project.&quot;</span></span></span></p>

<p><span style="font-size:12pt"><span style="font-family:Cambria"><span style="font-family:&quot;Times New Roman&quot;">Electricity of Dudhkoshi-4, Sankhuwakhola-1, Tallo Hongu and Ingu Khola hydropower projects will be connected to 132 KV Line substation, 132 KV Tumlingtar substation, 132 KV line substation respectively. Electricity of Kawadikhola Hydropower Project will be connected to 132 KV Mugu Karnali Hub.</span></span></span></p>

<p><span style="font-size:12pt"><span style="font-family:Cambria"><span style="font-family:&quot;Times New Roman&quot;">A secretary-level decision taken on August 20, 2020 had agreed to allow the private sector to develop the projects in the build, operate and transfer (BOT) model.</span></span></span></p>

<p>&nbsp;</p>
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	(int) 12 => array(
		'Article' => array(
			'id' => '13534',
			'article_category_id' => '1',
			'title' => ' Supply of Petroleum Products Obstructed    ',
			'sub_title' => '',
			'summary' => 'June 15: The Petroleum Tanker Drivers’ Association has halted the supply of fuel.',
			'content' => '<p><span style="font-size:11pt"><span style="font-family:Cambria"><span style="font-family:&quot;Arial Unicode MS&quot;">June 15: The Petroleum Tanker Drivers&rsquo; Association has halted the supply of fuel. They had threatened few weeks ago to stop the supply if they were not given COVID-19 vaccines. The association chair Ishwar Lama shared that they were compelled to halt the supplies as their demands were not heard by the concerned authorities.&nbsp;&nbsp;&nbsp;&nbsp; </span><br />
<span style="font-family:&quot;Arial Unicode MS&quot;">With this, smooth supply of the petroleum product, especially in private petrol pumps has been affected. He added that the internal supplies from Barauni, Amlekhgunj and other areas have been obstructed. The Bagmati Province Depot, Thankot has stated that the supplies have been obstructed from Sunday.&nbsp;&nbsp;&nbsp;&nbsp; </span><br />
<span style="font-family:&quot;Arial Unicode MS&quot;">Meanwhile, Nepal Petroleum Dealers&rsquo; National Association has stated that shortage of petroleum products may be witnessed from Tuesday (June 15) as the government is relaxing the prohibitory order in Kathmandu valley. -- RSS&nbsp;&nbsp; </span></span></span></p>
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		'Article' => array(
			'id' => '13533',
			'article_category_id' => '1',
			'title' => 'Readymade Goods worth Rs 1 Billion Stuck in Warehouses due to Suspension of Export ',
			'sub_title' => '',
			'summary' => 'June 14: Readymade garments worth Rs 1 billion have been stuck in the country due to the suspension of export activity. ',
			'content' => '<p><span style="font-size:12pt"><span style="font-family:Cambria"><span style="font-family:&quot;Times New Roman&quot;">June 14: Readymade garments worth Rs 1 billion have been stuck in the country due to the suspension of export activity. Since the outbreak of Covid-19, both air and sea fares have gone up, leaving the readymade garment industry no option than to stockpile goods worth Rs 1 billion.</span></span></span></p>

<p><span style="font-size:12pt"><span style="font-family:Cambria"><span style="font-family:&quot;Times New Roman&quot;">The goods including half-pants, t-shirts, shirts, trousers produced by the industries even before the lockdown are still in the warehouse. Although there is a demand for readymade garments produced in Nepal from European countries at the moment, businessmen have not been able to export goods even if they wanted to due to the rise in shipping charges due to the pandemic.</span></span></span></p>

<p><span style="font-size:12pt"><span style="font-family:Cambria"><span style="font-family:&quot;Times New Roman&quot;">Exporters now have to pay up to three times more than usual shipping charges for exporting goods. Earlier, the price of goods exported to Europe and the United States by air was USD 3 per kg, but now it has grown to USD 9. Similarly, the fare is equally expensive via waterway. The Garment Association of Nepal has informed that shipping charge through waterways has increased from USD 1400 per container to USD 2200.&nbsp;</span></span></span></p>

<p><span style="font-size:12pt"><span style="font-family:Cambria"><span style="font-family:&quot;Times New Roman&quot;">Readymade garments produced in Nepal are exported to European countries including Germany, France, Hungary, Denmark, Italy, Norway, and even to the USA, Australia, and Canada. The main market for Nepal&rsquo;s readymade garments is Europe, where about 70 percent of Nepal-made products are consumed.</span></span></span></p>

<p><span style="font-size:12pt"><span style="font-family:Cambria"><span style="font-family:&quot;Times New Roman&quot;">Even in last year&#39;s lockdown, goods worth more than Rs 1.5 billion were stuck in the warehouses. Ashok Agrawal, president of the association, said that the industries have reduced their production capacity to around 30 percent as they could not export their products due to the problems in paying rent. He also informed that the direct impact of the reduction in production is falling on the working class people involved in the industry. At present, 50 percent of the 10,000 workers of 50 industries in Nepal have lost their jobs.</span></span></span></p>

<p><span style="font-size:12pt"><span style="font-family:Cambria"><span style="font-family:&quot;Times New Roman&quot;">&quot;Exporting goods at high fares increases the cost of goods and we have to sell them at higher prices. When we try to sell at higher prices, foreigners start buying goods from other countries instead of buying our goods,&quot; he said. </span></span></span></p>

<p><span style="font-size:12pt"><span style="font-family:Cambria"><span style="font-family:&quot;Times New Roman&quot;">Compared to Nepal, the freight rates are cheaper for the countries connected to the sea. When Nepali businessmen have to pay for a truck and then a ship to Kolkata, it becomes expensive. Due to this, the cost of Nepali products becomes more expensive compared to other countries.</span></span></span></p>

<p><span style="font-size:12pt"><span style="font-family:Cambria"><span style="font-family:&quot;Times New Roman&quot;">The demand for readymade garments tends to be seasonal. Therefore, the season of clothes in stock now ends soon and then it has to be held till the next season. That would cost the businessmen millions of additional charge. The textile industry, which is facing problems due to the ban on exports, is currently going through a crisis.</span></span></span></p>

<p><span style="font-size:12pt"><span style="font-family:Cambria"><span style="font-family:&quot;Times New Roman&quot;">Therefore, the association demanded the government to provide concessional loans to the garment industry, which has been playing a big role in increasing employment and export of Nepal. The industry, which had a turnover of Rs 7 billion in the last fiscal year, is expected to see a sharp decline in the current fiscal year due to the pandemic.</span></span></span></p>

<p><span style="font-size:12pt"><span style="font-family:Cambria"><span style="font-family:&quot;Times New Roman&quot;">Fifteen years ago, there were about 1,200 readymade garment industries in Nepal. More than 100,000 workers were employed in those garment factries. Currently, only 50 readymade garment industries are in operation.</span></span></span></p>

<p><span style="font-size:12pt"><span style="font-family:Cambria"><span style="font-family:&quot;Times New Roman&quot;">Entrepreneurs say that the cost of readymade garments produced in Nepal is more expensive than the readymade garments produced in other countries as the raw materials required for the industry have to be imported from abroad.</span></span></span></p>

<p>&nbsp;</p>
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		'Article' => array(
			'id' => '13532',
			'article_category_id' => '1',
			'title' => 'Construction Entrepreneurs Demand vaccination for Workers in the Forefront of Development Works',
			'sub_title' => '',
			'summary' => 'June 14: The Federation of Contractors Association of Nepal (FCAN) has requested the government to provide vaccine against COVID-19 to the workers and laborers as well as construction entrepreneurs who are working at the forefront of development work.',
			'content' => '<p><span style="font-size:12pt"><span style="font-family:Cambria"><span style="font-family:&quot;Times New Roman&quot;">June 14:<strong> </strong></span><span style="font-family:&quot;Times New Roman&quot;">The Federation of Contractors Association of Nepal (FCAN) has requested the government to provide vaccine against COVID-19 to the workers and laborers as well as construction entrepreneurs who are working at the forefront of development work. On Sunday, the federation requested Minister for Culture, Tourism and Civil Aviation Uma Shankar Argaria to make arrangements for vaccination.</span></span></span></p>

<p><span style="font-size:12pt"><span style="font-family:Cambria"><span style="font-family:&quot;Times New Roman&quot;">The federation also expressed its views with the minister regarding the budget for the upcoming fiscal year and said that the provision of extending various projects for only six months is not scientific. The federation has demanded automatic extension of the deadline by one year for all the projects that have expired before April 29, 2021.</span></span></span></p>

<p><span style="font-size:12pt"><span style="font-family:Cambria"><span style="font-family:&quot;Times New Roman&quot;">The federation has also demanded to postpone the entire procurement process including invitation for bids from the federal, state and local governments. The federation has drawn the attention of the minister saying that a large amount of dues of the construction companies are yet to be paid. Furthermore, the federation has also suggested stopping the process of inviting new bids without allocating budget for the payment of previous construction works.&nbsp;&nbsp;</span></span></span></p>

<p><span style="font-size:12pt"><span style="font-family:Cambria">&nbsp;</span></span></p>

<p>&nbsp;</p>

<p>&nbsp;</p>
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			'id' => '13546',
			'article_category_id' => '1',
			'title' => 'Inland Revenue Department Extends Tax Filing Deadline Till July 9',
			'sub_title' => '',
			'summary' => 'The Inland Revenue Department has extended the deadline for filing tax details and taxes due to prohibitory orders imposed to curb the spread of coronavirus.',
			'content' => '<p>June 17: The Inland Revenue Department has extended the deadline for filing tax details and taxes due to prohibitory orders imposed to curb the spread of coronavirus.&nbsp;<br />
The decision to extend the tax filing deadline by two months has given protection to businesses from the penalty for delaying filing tax returns.</p>

<p>Issuing a notice on Wednesday, the IRD said that it has extended the deadline to file details of value-added tax (VAT) and taxes based on those monthly and bimonthly details of previous two months&mdash;Chaitra and Baisakh (mid March to mid April and mid April to mid May)&mdash;till July 9.</p>

<p>Similarly, income taxpayers who file tax deducted&nbsp;at&nbsp;source&nbsp;(TDS) will now have to file details of the TDS and the taxes based on those details by July 9.<br />
According to the IRD, businesses can now file excise duty for the month of Chaitra (mid March to mid April) and Baisakh (mid April to mid May) by July 9.<br />
Other revenues like health, education and telecommunication tax filing deadline has been extended till July 9.</p>

<p>The IRD has extended the deadline for the tax filing in line with the request from the private sector. Though a recent order of the Supreme Court had paved the way for the government to collect taxes even during the lockdown, the IRD decided to extend the deadline for tax filing, citing difficulties for taxpayers due to prohibitory orders in various parts of the country to contain the second wave of coronavirus.</p>

<p>The Supreme Court on June 15 vacated its previous order of&nbsp;restricting the&nbsp;government from collecting taxes during the lockdown.<br />
&nbsp;<br />
&nbsp;</p>
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			'created' => '2021-06-17',
			'modified' => '2021-06-17',
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			'description' => '',
			'sortorder' => '13291',
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			'article_date' => '2021-06-17 16:16:03',
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			'id' => '13545',
			'article_category_id' => '1',
			'title' => 'HAN Asks Govt Not to Implement New Minimum Wage in Hotel Industry ',
			'sub_title' => '',
			'summary' => 'Hotel Association of Nepal (HAN) has urged the government not to implement the new minimum salary in the hotel industry. ',
			'content' => '<p>June 16: Hotel Association of Nepal (HAN) has urged the government&nbsp;not to implement the new minimum salary in the hotel industry.&nbsp;</p>

<p>Meeting the newly appointed Minister for Labour, Employment and Social Security Bimal Prasad Shrivastav on Wednesday, HAN President Shreejana Rana and First Vice President Binayak Shah said that the hotel industry, which has been battered by the Covid-19, is not in position to implement the new minimum salary as fixed by the government recently.</p>

<p>Earlier in May, the government had published the notice of revised minimum monthly salary for workers in Nepal Gazette. The minimum salary was raised to Rs 15,000 per month from Rs 13,450. &nbsp;</p>

<p>&ldquo;At a time when hotels are not able to pay salaries to their employees as per the present scale , the hotel industry is not in the position to implement the new minimum wage. So, this should not be implemented in the hotel industry,&rdquo; read the statement of the HAN issued after the meeting.&nbsp;</p>

<p>According to the statement, the HAN also asked the government to treat the hotel industry as a highly affected sector from the Covid-19 and provide additional support and facilities to attract them toward the Social Security Fund (SSF).&nbsp;</p>
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			'sortorder' => '13290',
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			'article_date' => '2021-06-17 11:38:14',
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			'id' => '13544',
			'article_category_id' => '1',
			'title' => 'World Bank Approves $150 Million Credit for Nepal to Support Pandemic Recovery',
			'sub_title' => '',
			'summary' => 'The World Bank is providing Nepal $150 million in development policy credit to support the recovery from the Covid-19. ',
			'content' => '<p>June 17:&nbsp;The World Bank is providing Nepal $150 million in development policy credit to support recovery from the Covid-19.&nbsp;</p>

<p>Issuing a statement, the World Bank said that its Board of Executive Directors today approved a $150 million development policy credit to support Nepal&rsquo;s resilient recovery from the COVID-19 pandemic, protect the most vulnerable, and support sustainable growth.</p>

<p>&ldquo;Amid the economic and social impacts of the pandemic, our priority is to provide immediate relief to affected populations and support Nepal&rsquo;s green, resilient, and inclusive recovery,&rdquo; the statement quoted Faris Hadad-Zervos, World Bank Country Director for Maldives, Nepal, and Sri Lanka, as saying. &nbsp;</p>

<p>The Nepal Programmatic Fiscal Policy for Growth, Recovery and Resilience will help strengthen Nepal&rsquo;s institutions and regulations, including its tax and customs system, debt management, and public capital spending, according to the statement. It will also support the immediate health response and help modernize social protection programs, build access to capital and digital solutions for the private sector, and lay a regulatory foundation for a green recovery, read the statement.&nbsp;</p>

<p>&ldquo;This development policy credit supports the government of Nepal&rsquo;s efforts to address the social and economic impacts of COVID-19 and overcome structural constraints to a resilient economic recovery,&rdquo; stated Kene Ezemenari, Senior Economist and the World Bank&rsquo;s Task Team Leader for the program.&nbsp;<br />
&nbsp;</p>
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			'id' => '13543',
			'article_category_id' => '1',
			'title' => ' Heavy Rainfall in Forecast for Three More Days ',
			'sub_title' => '',
			'summary' => 'June 16: Heavy rainfall has been predicted in most parts of the country for three more days, the state-owned national news agency RSS reported citing the Meteorological Forecasting Division.',
			'content' => '<p><span style="font-size:11pt"><span style="font-family:Cambria"><span style="font-family:&quot;Arial Unicode MS&quot;">June 16: Heavy rainfall has been predicted in most parts of the country for three more days, the state-owned national news agency RSS reported citing the Meteorological Forecasting Division. The division has warned of risk of floods and landslides at some places due to the heavy rainfall.&nbsp;&nbsp;&nbsp;&nbsp; </span><br />
<span style="font-family:&quot;Arial Unicode MS&quot;">Meteorologist at the division, Manju Basi, informed that rainfall is taking place throughout the country at present as the monsoon wind is active. There is possibility of occurrence of heavy rainfall in most parts of the country until Saturday due to the influence of this wind. There will be a break in this trend after Saturday, RSS further reported.&nbsp;&nbsp;&nbsp;&nbsp; </span><br />
<span style="font-family:&quot;Arial Unicode MS&quot;">According to the division, light to moderate rainfall is taking place in most of the places of Gandaki and Lumbini provinces and at a few places in the remaining provinces. </span></span></span></p>

<p><span style="font-size:11pt"><span style="font-family:Cambria"><span style="font-family:&quot;Arial Unicode MS&quot;">Heavy rainfall is in forecast in Karnali and Bagmati provinces and very heavy rainfall is likely to occur in some places of Lumbini and Gandaki provinces throughout the day as well as tonight (June 16).&nbsp;&nbsp;&nbsp;&nbsp; </span><br />
<span style="font-family:&quot;Arial Unicode MS&quot;">The division has warned of the possibility of floods and landslides in these areas.&nbsp;&nbsp;&nbsp;&nbsp; </span><br />
<span style="font-family:&quot;Arial Unicode MS&quot;">&quot;There are chances of occurrence of heavy rainfall at some areas and heavy rainfall at few places of Karnali, Gandaki, Lumbini and Bagmati provinces. So, there is risk of landslide and mudslide in the hilly region of these provinces. The water level in the rivers and rivulets might rise and the transport services might get affected due to this. Adoption of necessary precaution and alertness is advised,&quot; the Division stated in its latest weather bulletin.&nbsp;&nbsp;&nbsp;&nbsp; </span><br />
<span style="font-family:&quot;Arial Unicode MS&quot;">As per the division&#39;s regular bulletin, this trend of rainfall will continue throughout the country till Friday. </span></span></span></p>

<p><span style="font-size:11pt"><span style="font-family:Cambria"><span style="font-family:&quot;Arial Unicode MS&quot;">As of Wednesday evening, Pokhara has received the highest rainfall in the country within the last 24 hours. It received 110.5 millilitres of rainfall, followed by Bhairahawa with 82.2 millilitres rainfall. Kathmandu received only 12.4 millilitres rainfall in the last 24 hours, according to RSS.&nbsp;&nbsp;&nbsp;&nbsp; &nbsp;&nbsp;</span></span></span></p>
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			'id' => '13542',
			'article_category_id' => '1',
			'title' => 'Three Killed, 11 go Missing in Floods, Landslides Across the Country',
			'sub_title' => '',
			'summary' => 'June 16: Three persons have lost their lives and 11 others have gone missing in different parts of the country due to flood and landslide following incessant rainfall for the past few days.    ',
			'content' => '<p><span style="font-size:11pt"><span style="font-family:Cambria"><span style="font-family:&quot;Arial Unicode MS&quot;">June 16: Three persons have lost their lives and 11 others have gone missing in different parts of the country due to flood and landslide following incessant rainfall for the past few days.&nbsp;&nbsp;&nbsp;&nbsp; </span><br />
<span style="font-family:&quot;Arial Unicode MS&quot;">According to the National Emergency Operation Centre of the Home Ministry, seven persons sustained injuries in the disaster. Chief of the Centre Dil Kumar Tamang said that one person died in Bajura, Palpa and Sindhupalchowk districts each while seven went missing in Sindhupalchowk.&nbsp;&nbsp;&nbsp;&nbsp; </span><br />
<span style="font-family:&quot;Arial Unicode MS&quot;">Sindhupalchowk district recorded a huge loss of lives and property due to landslide last year too. Tamang said that some people have also gone missing in Salyan, Bajura, Gorkha and Jajarkot districts.&nbsp;&nbsp;&nbsp;&nbsp; </span><br />
<span style="font-family:&quot;Arial Unicode MS&quot;">Task of collecting other details is underway, according to the Centre. Tamang added that arrangement is being made to rescue those trapped in flood and landslide, to distribute relief materials to victims and to shift them to safer places.&nbsp;&nbsp;&nbsp;&nbsp; </span><br />
<span style="font-family:&quot;Arial Unicode MS&quot;">He shared that 26 people have been rescued using Nepal Army&rsquo;s chopper from Melamchi area this morning (June 16) and a truck of relief materials has been sent to the area from Kathmandu.&nbsp;&nbsp;&nbsp;&nbsp; </span><br />
<span style="font-family:&quot;Arial Unicode MS&quot;">According to the Home Ministry, preparation has been made to send relief materials to Manang from helicopter. Five hundred people have been evacuated and moved to safer places in Manang.&nbsp;&nbsp;&nbsp;&nbsp; </span><br />
<span style="font-family:&quot;Arial Unicode MS&quot;">It has been predicted that this rainy season might witness more rainfall than average. -- RSS&nbsp;&nbsp; </span></span></span></p>
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			'id' => '13541',
			'article_category_id' => '1',
			'title' => 'Seven Provinces Introduce Budget for the Upcoming Fiscal Year',
			'sub_title' => '',
			'summary' => '',
			'content' => '<p><span style="font-size:12pt"><span style="font-family:Cambria"><span style="font-size:16px"><span style="font-family:Times">June 16: </span></span><span style="font-size:11.0pt"><span style="font-family:Arial">All the seven provinces have introduced the budget for the upcoming fiscal year (FY 2021/22) in line with the constitutional provision. The size of the budget of Bagmati Province is the biggest among all the provinces while Gandaki Province has presented a relatively small-sized budget.</span></span></span></span></p>

<p><span style="font-size:12pt"><span style="font-family:Cambria"><span style="font-size:11.0pt"><span style="font-family:Arial">The budgets introduced by all the seven provinces have prioritized prevention and control of COVID-19 and given continuity to old programmes of infrastructure development. Some states have allocated budgets for health infrastructure by scrapping programmes previously brought by the center to please the lawmakers, while others have continued similar programmes for the upcoming year.</span></span></span></span></p>

<p><span style="font-size:12pt"><span style="font-family:Cambria"><span style="font-size:11.0pt"><span style="font-family:Arial">The Bagmati Province has brought a budget of Rs 57.72 billion for the upcoming fiscal year, which is more than the current fiscal year&rsquo;s budget by Rs 6 billion. It has scrapped the parliamentary constituency infrastructure development programme.</span></span></span></span></p>

<p><span style="font-size:12pt"><span style="font-family:Cambria"><span style="font-size:11.0pt"><span style="font-family:Arial">The Bagmati Province government had been allocating about Rs 2.5 billion for the directly elected state assembly members as well as those elected under the proportional representation quota of each constituency under the heading of the infrastructure development programme. Kailash Prasad Dhungel, Minister for Economic Affairs and Planning, informed that the government has canceled the infrastructure development programme for the upcoming fiscal year and allocated the budget instead for the health sector.</span></span></span></span></p>

<p><span style="font-size:12pt"><span style="font-family:Cambria"><span style="font-size:11.0pt"><span style="font-family:Arial">It has allocated Rs 32.46 billion budget for the health sector. The budget has set aside more funds for recurrent expenses than the capital expenditure. Bijay Kumar Yadav, Minister for Economic Affairs and Planning of Province 2, has allocated Rs 33.79 billion for the upcoming fiscal year. </span></span></span></span></p>

<p><span style="font-size:12pt"><span style="font-family:Cambria"><span style="font-size:11.0pt"><span style="font-family:Arial">The budget focuses on COVID-19 control and treatment, road construction, irrigation, employment and education. Most of the big old plans have been given continuity.</span></span></span></span></p>

<p><span style="font-size:12pt"><span style="font-family:Cambria"><span style="font-size:11.0pt"><span style="font-family:Arial">Gandaki Province has reduced the size of the budget compared to last year. The province has brought a budget of Rs 30.03 billion. In the budget presented by Chief Minister Krishna Chandra Pokhrel Nepali, the state government has announced to provide Rs 5,000 as monthly relief to those who have lost their parents to COVID -19. Similarly, families who have lost their members to COVID-19 will be provided a relief package of Rs 50,000 each.&nbsp;</span></span></span></span></p>

<p><span style="font-size:12pt"><span style="font-family:Cambria"><span style="font-size:11.0pt"><span style="font-family:Arial">Lumbini Province has introduced a budget of Rs 40.95 billion for the upcoming fiscal year. The budget has provided 33 percent annual tax exemption to public transport entrepreneurs. The budget has also made an arrangement that no penalty will be fined if the tax is paid within three months of the Fiscal Year 2021/22.&nbsp; It has allocated a huge amount of budget in the field of agriculture and health.&nbsp;</span></span></span></span></p>

<p><span style="font-size:12pt"><span style="font-family:Cambria"><span style="font-size:11.0pt"><span style="font-family:Arial">The Karnali Province government has also introduced a budget emphasizing on the health sector and infrastructure programmes. The budget brought by Gopal Sharma, Minister for Economic Affairs and Planning, is more focused on improving the lives of the citizens by improving the health sector.</span></span></span></span></p>

<p><span style="font-size:12pt"><span style="font-family:Cambria"><span style="font-size:11.0pt"><span style="font-family:Arial">It has allocated Rs 535 million for the prevention of COVID-19 pandemic and funds have been allocated to purchase vaccines for every citizen of the province. The budget has provision to provide free education to the children of the martyrs&rsquo; family. The government has decided to run a model school in each local unit for the development of the education sector. A budget of Rs 395 million has been allocated for this programme.</span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:11.0pt"><span style="font-family:Arial">The Far Western Province Government has brought a budget of Rs 30.33 billion for the upcoming fiscal year. The budget presented by Prakash Bahadur Shah, Minister for Economic Affairs and Planning, is less by Rs 3.5 billion than the current budget.&nbsp; It has reduced current expenditure by Rs 4 billion and the capital expenditure has been increased by about Rs 1 billion.</span></span></span></span></p>

<p><span style="font-size:12pt"><span style="font-family:Cambria"><span style="font-size:11.0pt"><span style="font-family:Arial">Shah said that the budget has prioritized the improvement and expansion of health services and construction of infrastructure. A budget of Rs 2.48 billion has been allocated for infrastructure development.</span></span></span></span></p>

<p><span style="font-size:12pt"><span style="font-family:Cambria"><span style="font-size:11.0pt"><span style="font-family:Arial">Similarly, a budget of Rs 5.12 billion has been allocated for the construction of roads, major infrastructure and mega projects for the upcoming year. The state will provide free medical treatment to the families of the injured and martyrs of the people&#39;s movement and armed conflict. </span></span></span></span></p>

<p><span style="font-size:12pt"><span style="font-family:Cambria"><span style="font-size:11.0pt"><span style="font-family:Arial">Likewise, a budget of Rs 100 million has been allocated to make the families of conflict victims self-reliant.</span></span></span></span></p>

<p><span style="font-size:12pt"><span style="font-family:Cambria"><span style="font-size:11.0pt"><span style="font-family:Arial">And Rs 960 million has been allocated for the infrastructure development programme. In the Far-western Province, there are 32 state assembly members under a direct poll system.&nbsp; The province government has allocated Rs 30 million to each member of the state assembly.&nbsp; Meanwhile similar kind of programme has already been scrapped by the central government.</span></span></span></span></p>

<p>&nbsp;</p>

<p>&nbsp;</p>
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		'Article' => array(
			'id' => '13540',
			'article_category_id' => '1',
			'title' => 'Shipping Cost of Nepali Importers up due to Covid-19',
			'sub_title' => '',
			'summary' => 'June 16: The shipping cost of importing goods to Nepal from overseas has increased as the transportation chain has been affected by the coronavirus pandemic.',
			'content' => '<p><span style="font-size:12pt"><span style="font-family:Cambria"><span style="font-family:&quot;Times New Roman&quot;">June 16: The shipping cost of importing goods to Nepal from overseas has increased as the transportation chain has been affected by the coronavirus pandemic.</span></span></span></p>

<p><span style="font-size:12pt"><span style="font-family:Cambria"><span style="font-family:&quot;Times New Roman&quot;">Shipping companies have increased fares by three to five times due to the shortage of containers in addition to heavy traffic jams at the port. Importer Ashish Lath, who is also the secretary of Birgunj Chamber of Commerce and Industry, said that most of the shipping companies have increased the fares sharply depending on the destination of the goods.</span></span></span></p>

<p><span style="font-size:12pt"><span style="font-family:Cambria"><span style="font-family:&quot;Times New Roman&quot;">He informed that they have to pay USD 3,800 per container to import goods from Chinese port to the dry port of Birgunj. &ldquo;Before the pandemic, the fare was up to $2,000. Even a month ago, the goods had arrived at $2,900,&rdquo; he told New Business Age.</span></span></span></p>

<p><span style="font-size:12pt"><span style="font-family:Cambria"><span style="font-family:&quot;Times New Roman&quot;">The shipping companies have increased fares following last year&#39;s lockdown. However, the train fare from Indian ports to Nepal remains the same.</span></span></span></p>

<p><span style="font-size:12pt"><span style="font-family:Cambria"><span style="font-family:&quot;Times New Roman&quot;">The train fare from the Indian port to Birgunj is around $1,000 per container. According to the importers, the shipping cost of containers imported from China has increased three times.</span></span></span></p>

<p><span style="font-size:12pt"><span style="font-family:Cambria"><span style="font-family:&quot;Times New Roman&quot;">Businessman Om Prakash More says that the transportation fare for goods imported from Europe and America is increasing every week.</span></span></span></p>

<p><span style="font-size:12pt"><span style="font-family:Cambria"><span style="font-family:&quot;Times New Roman&quot;">Importers say that the fare for containers imported from those countries has increased five times now. </span></span></span></p>

<p><span style="font-size:12pt"><span style="font-family:Cambria"><span style="font-family:&quot;Times New Roman&quot;">Naresh Agrawal, vice-president of the Nepal Freight Forwarders Association, said that the shipping companies are charging congestion fare due to the congestion of containers at the sea port.</span></span></span></p>

<p><span style="font-size:12pt"><span style="font-family:Cambria"><span style="font-family:&quot;Times New Roman&quot;">According to Sushant Chachan, joint secretary of the Birgunj Chamber of Commerce and Industry, the shipping companies charge them up to US$ 200 to 300 per container for importing goods from Southeast Asian countries.</span></span></span></p>

<p><span style="font-size:12pt"><span style="font-family:Cambria"><span style="font-family:&quot;Times New Roman&quot;">Importer Chachan informed that the shipment cost from Myanmar to Birgunj has doubled now. </span></span></span></p>

<p><span style="font-size:12pt"><span style="font-family:Cambria"><span style="font-family:&quot;Times New Roman&quot;">He says that the fare from South America to Kolkata port has increased to $400 per container. Ashok Kumar Temani, coordinator of Road Transport and Transit Committee of FNCCI Province 2, says that the shipping companies are increasing fares in an arbitrary manner.</span></span></span></p>

<p><span style="font-size:12pt"><span style="font-family:Cambria"><span style="font-family:&quot;Times New Roman&quot;">&ldquo;Containers are hard to find during the pandemic and lockdown. Some shipping lines have created artificial shortages,&rdquo; says Temani.</span></span></span></p>

<p><span style="font-size:12pt"><span style="font-family:Cambria"><span style="font-family:&quot;Times New Roman&quot;">Just a month ago, the Nepali Consulate in Kolkata, India had publicly urged the importers not to do business with the two shipping companies that are harassing the importers. The Consulate had to issue a notice not to transport containers through River Edge Shipping Pvt. Ltd and Regal Container Line.</span></span></span></p>

<p><span style="font-size:12pt"><span style="font-family:Cambria"><span style="font-family:&quot;Times New Roman&quot;">The Consulate said that the contact person of the company had repeatedly demanded additional charges from the importers and increased the fine.</span></span></span></p>

<p><span style="font-size:12pt"><span style="font-family:Cambria">&nbsp;</span></span></p>

<p><span style="font-size:12pt"><span style="font-family:Cambria">&nbsp;</span></span></p>

<p>&nbsp;</p>

<p>&nbsp;</p>
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	(int) 7 => array(
		'Article' => array(
			'id' => '13539',
			'article_category_id' => '1',
			'title' => 'Remittance Inflow Increases, Current Account Remains at a Deficit of Rs 247 Billion',
			'sub_title' => '',
			'summary' => 'June 15: The country has received Rs 809.89 billion in remittance in the first ten months of fiscal year (FY 2020/21), according to the Nepal Rastra Bank (NRB).  ',
			'content' => '<p><span style="font-size:11pt"><span style="font-family:Cambria"><span style="font-size:12.0pt"><span style="font-family:Arial">June 15: The country has received Rs 809.89 billion in remittance in the first ten months of fiscal year (FY 2020/21), according to the Nepal Rastra Bank (NRB).&nbsp;&nbsp;&nbsp;&nbsp; </span></span><br />
<span style="font-size:12.0pt"><span style="font-family:Arial">Releasing the Current Macroeconomic and Financial Situation of the country based on ten month&rsquo;s data on Monday, the central bank stated that the inflow of remittance increased 19.2 per cent in the review period against a decrease of 6.3 per cent in the same period of the previous year.<br />
According to the NRB, the number of Nepali workers taking approval for foreign employment decreased 60.3 per cent in the review period. It had decreased 2.7 per cent in the corresponding period of the previous year.<br />
The NRB report stated that the current account remained at a deficit of Rs 247.08 billion in the review period compared to a deficit of Rs 96.18 billion in the corresponding period of the previous year.&nbsp;&nbsp;&nbsp;&nbsp;<br />
In the US Dollar terms, the current account registered a deficit of 2.11 billion in the review period compared to a deficit of 855.9 million in the same period of the previous year.&nbsp;&nbsp;&nbsp;&nbsp;<br />
Likewise, the Balance of Payments (BOP) registered a surplus of Rs 7.75 billion in the review period as compared to a surplus of Rs 120.90 billion in the same period of the previous year. </span></span><br />
<span style="font-size:12.0pt"><span style="font-family:Arial">During the ten months of 2020/21, merchandise exports increased 32.2 percent to Rs108.48 billion compared to an increase of 4.5 percent in the same period of the previous year. Destination-wise, exports to India and other countries increased 35.8 percent and 25.3 percent respectively whereas exports to China decreased 18.4 percent.</span></span></span></span></p>

<p><span style="font-size:11pt"><span style="font-family:Cambria"><span style="font-size:12.0pt"><span style="font-family:Arial">Exports of soybean oil, cardamom, jute goods, polyester yarn and threads, woolen carpet, among others, increased whereas exports of palm oil, pulses, zinc sheet, wire, cattle-feed, among others, decreased in the review period.</span></span></span></span></p>

<p><span style="font-size:11pt"><span style="font-family:Cambria"><span style="font-size:12.0pt"><span style="font-family:Arial">During the ten months of 2020/21, merchandise imports increased 22.3 percent to Rs.1254.11 billion against a decrease of 13.0 percent a year ago. </span></span></span></span></p>

<p><span style="font-size:11pt"><span style="font-family:Cambria"><span style="font-size:12.0pt"><span style="font-family:Arial">Destination-wise, imports from India, China and other countries increased 29.8 percent, 17.2 percent and 6.2 percent respectively. </span></span></span></span></p>

<p><span style="font-size:11pt"><span style="font-family:Cambria"><span style="font-size:12.0pt"><span style="font-family:Arial">Imports of transport equipment and parts, crude soybean oil, MS billet, rice, telecommunication equipment and parts, among others, increased whereas imports of aircraft spareparts, crude palm oil, petroleum products, video television and parts, silver, among others, decreased in the review period.</span></span></span></span></p>

<p><span style="font-size:11pt"><span style="font-family:Cambria"><span style="font-size:12.0pt"><span style="font-family:Arial">Total trade deficit increased 21.5 percent to Rs.1145.63 billion during the ten months of 2020/21. Such a deficit had decreased 14.2 percent in the same period of the previous year. </span></span></span></span></p>

<p><span style="font-size:11pt"><span style="font-family:Cambria"><span style="font-size:12.0pt"><span style="font-family:Arial">The export-import ratio increased to 8.6 percent in the review period from 8.0 percent in the same period of the previous year.</span></span></span></span></p>

<p><span style="font-size:11pt"><span style="font-family:Cambria"><span style="font-size:12.0pt"><span style="font-family:Arial">The year-on-year consumer price inflation stood at 3.65 percent in the tenth month of 2020/21 compared to 5.83 percent a year ago. Food and beverage inflation stood at 4.72 percent whereas non-food and service inflation stood at 2.81 percent in the review month.</span></span></span></span></p>

<p><span style="font-size:11pt"><span style="font-family:Cambria"><span style="font-size:12.0pt"><span style="font-family:Arial">The price of ghee and oil; meat and fish; non-alcoholic drinks and tobacco products sub-groups rose 28.20 percent, 17.12 percent, 9.85 percent and 9.84 percent respectively on y-o-y basis.</span></span></span></span></p>

<p>&nbsp;</p>
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	(int) 8 => array(
		'Article' => array(
			'id' => '13538',
			'article_category_id' => '1',
			'title' => 'Easing of Prohibitory Order Brings both Hope and Worries Among Business Community ',
			'sub_title' => '',
			'summary' => 'June 15: The private sector is expecting the industries and businesses along the Bara-Parsa corridor to gain momentum after the government eased prohibitory order after  75 days.',
			'content' => '<p><span style="font-size:16px"><span style="font-family:Cambria"><span style="font-family:&quot;Times New Roman&quot;">June 15: The private sector is expecting the industries and businesses along the Bara-Parsa corridor to gain momentum after the government eased prohibitory order after&nbsp; 75 days. The restrictions that were imposed on April 29 have been relaxed since June 15.</span></span></span></p>

<p><span style="font-size:16px"><span style="font-family:Cambria"><span style="font-family:&quot;Times New Roman&quot;">As per the government&#39;s directive, the local Covid-19 crisis management centers have eased public movement. However, there are fears that the virus might reappear due to the relaxation in restrictive orders.</span></span></span></p>

<p><span style="font-size:16px"><span style="font-family:Cambria"><span style="font-family:&quot;Times New Roman&quot;">Earlier, shops in Birgunj were allowed to open till 10 am, but it has now been extended till noon. In Bara, the opening time has been set at 11 am. The supply of daily essentials, construction materials, and agricultural products and equipment will be facilitated by opening shops. </span></span></span></p>

<p><span style="font-size:16px"><span style="font-family:Cambria"><span style="font-family:&quot;Times New Roman&quot;">Subodh Kumar Gupta, president of the Birgunj Chamber of Commerce and Industry, is confident that business activities will pick up pace as the restriction on production and supply has been eased.</span></span></span></p>

<p><span style="font-size:16px"><span style="font-family:Cambria"><span style="font-family:&quot;Times New Roman&quot;">At present, industries other than food and medicine are almost closed,&rdquo; Gupta said, adding, &quot;There is no problem in transportation and production of raw materials. However, the manufactured goods could not be sold in the market.&rdquo;</span></span></span></p>

<p><span style="font-size:16px"><span style="font-family:Cambria"><span style="font-family:&quot;Times New Roman&quot;">Ganesh Prasad Lath, president of the Federation of Nepalese Chambers of Commerce and Industry in Province 2, claimed that 60 percent of the industries in the Bara-Parsa corridor have been shut down due to the restrictions.</span></span></span></p>

<p><span style="font-size:16px"><span style="font-family:Cambria"><span style="font-family:&quot;Times New Roman&quot;">&quot;Except for producing essential goods, manufacturing of other products is closed. Producers of essential commodities have not been able to operate at full capacity,&rdquo; Lath told New Business Age.</span></span></span></p>

<p><span style="font-size:16px"><span style="font-family:Cambria"><span style="font-family:&quot;Times New Roman&quot;">The business community argues that trade and business will not pick up pace unless markets and transportation are opened. Lath said that the workers have started returning to work.&nbsp;</span></span></span></p>

<p><span style="font-size:16px"><span style="font-family:Cambria"><span style="font-family:&quot;Times New Roman&quot;">&quot;The supply of workers has eased somewhat. Coronavirus infection is under control and relaxation of the prohibitory order would help business activities to gain momentum,&quot; he said.</span></span></span></p>

<p><span style="font-size:16px"><span style="font-family:Cambria"><span style="font-family:&quot;Times New Roman&quot;">Gupta said that most of the industries and commercial establishments were facing crisis.</span> <span style="font-family:&quot;Times New Roman&quot;">He said that they were unable to recovery money from the market due to the restriction on mobility and market activities. Due to this, there has been a problem of keeping the enterprise running, he added.</span></span></span></p>

<p><span style="font-size:16px"><span style="font-family:Cambria"><span style="font-family:&quot;Times New Roman&quot;">Chief Customs Officer at Birgunj Customs Harihar Poudel said that the decline in industrial and commercial activities has also affected the number of goods entering the country.&nbsp; Poudel informed that the import of most of the trade items has declined. According to Poudel, imports of food items, shoes, slippers, machinery parts, tools, paint industry materials, vehicles, fuel, and other items have declined.</span></span></span></p>

<p><span style="font-size:16px"><span style="font-family:Cambria"><span style="font-family:&quot;Times New Roman&quot;">Although the surge of the virus has decreased in recent days, there is a fear that the number of infections will increase after the prohibitory order is relaxed. </span></span></span></p>

<p><span style="font-size:16px"><span style="font-family:Cambria"><span style="font-family:&quot;Times New Roman&quot;">Gupta fears that the number of infection has declined due to the reduction in tests. </span></span></span></p>

<p>&nbsp;</p>
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	(int) 9 => array(
		'Article' => array(
			'id' => '13536',
			'article_category_id' => '1',
			'title' => 'Businessmen Close Down Shops Permanently as Prohibitory Order gets Extended ',
			'sub_title' => '',
			'summary' => 'June 15: With the extension of prohibitory order imposed to control coronavirus pandemic, businessmen have started shutting down their shops permanently. ',
			'content' => '<p><span style="font-size:12pt"><span style="font-family:Cambria"><span style="font-family:&quot;Times New Roman&quot;">June 15: With the extension of prohibitory order imposed to control coronavirus pandemic, businessmen have started shutting down their shops permanently. They have started doing so as they are facing difficulty paying the rent.</span></span></span></p>

<p><span style="font-size:12pt"><span style="font-family:Cambria"><span style="font-family:&quot;Times New Roman&quot;">The prohibitory order issued by the government in the Kathmandu Valley on April 29 has been extended for one more week until June 21. The businessmen say that the extended lockdown has led them to vacate the shutters.</span></span></span></p>

<p><span style="font-size:12pt"><span style="font-family:Cambria"><span style="font-family:&quot;Times New Roman&quot;">According to the Nepal National Entrepreneurs&rsquo; Federation, more than 1,500 businessmen in the cities including Kathmandu Valley, Pokhara, Biratnagar, Butwal and Nepalgunj have vacated the shutters in the last one week. According to the president of the federation Naresh Katuwal, about 50 percent of businessmen who have vacated the shutters are from Kathmandu Valley. He said that the number of shutters vacated has increased in the main business hubs of Kathmandu including Thamel, New Road, Ason, Indrachowk, Koteshwor and Kalanki.&nbsp;&nbsp;</span></span></span></p>

<p><span style="font-size:12pt"><span style="font-family:Cambria"><span style="font-family:&quot;Times New Roman&quot;">Most of those who have shut down their shops are small traders running fancy-dress stores, shoe shops and hotels. According to the federation, about 40 percent of the shutters for commercial purposes were vacated in Kathmandu Valley last year due to the extended lockdown.</span></span></span></p>

<p><span style="font-size:12pt"><span style="font-family:Cambria"><span style="font-family:&quot;Times New Roman&quot;">Stating that small and medium entrepreneurs have been most affected by the lockdown last year and now, Katuwal said that they would disobey the government&rsquo;s order if the lockdown is extended beyond June 22.</span></span></span></p>

<p><span style="font-size:12pt"><span style="font-family:Cambria"><span style="font-family:&quot;Times New Roman&quot;">In addition, Baikuntha Dahal, general secretary of the National Trade Association New Road, said that if the government extends the lockdown again from next week, they would protest against the decision and resume their business.</span></span></span></p>

<p><span style="font-size:12pt"><span style="font-family:Cambria"><span style="font-family:&quot;Times New Roman&quot;">If the government keeps extending the lockdown, the businessmen say that their demand including waiver of interest on loan taken from banks and discount on the rent should be fulfilled.</span></span></span></p>

<p><span style="font-size:12pt"><span style="font-family:Cambria"><span style="font-family:&quot;Times New Roman&quot;">Depending on the location, the traders have been paying a minimum rent of Rs 20,000 to Rs 200,000 in the main business centers of Kathmandu.</span></span></span></p>

<p><span style="font-size:12pt"><span style="font-family:Cambria"><span style="font-family:&quot;Times New Roman&quot;">Due to the lockdown, small and medium-sized businesses that contribute about 22 percent of the country&#39;s gross domestic product and provide employment to more than 1.7 million people have been halted. </span></span></span></p>

<p>&nbsp;</p>

<p>&nbsp;</p>
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	(int) 10 => array(
		'Article' => array(
			'id' => '13535',
			'article_category_id' => '1',
			'title' => '‘Proposal to Graduate Nepal from LDC status to be Presented for Endorsement' ',
			'sub_title' => '',
			'summary' => 'June 15: Nepal has met the minimum required criteria to graduate to the status of developing country with mid-level income from the category of Least Developed Country (LDC).',
			'content' => '<p><span style="font-size:11pt"><span style="font-family:Cambria"><span style="font-family:&quot;Arial Unicode MS&quot;">June 15: Nepal has met the minimum required criteria to graduate to the status of developing country with mid-level income from the category of Least Developed Country (LDC), according to the state-owned national news agency RSS. In this connection, preparation is being made to get the final proposal endorsed from upcoming General Assembly of the United Nations.&nbsp;&nbsp;&nbsp;&nbsp; </span><br />
<span style="font-family:&quot;Arial Unicode MS&quot;">RSS reported that the UN Economic and Social Council (ECOSOC) has principally given a consent to present the proposal in the upcoming UNGA for endorsement. The UNGA is taking place on September later this year.&nbsp;&nbsp;&nbsp;&nbsp; </span><br />
<span style="font-family:&quot;Arial Unicode MS&quot;">Chief of the Permanent Mission of Nepal to the United Nations in New York, Amrit Rai told RSS that a meeting of the UN&rsquo;s ECOSOC held recently in New York also recommended Nepal being eligible to graduate to the country of mid-level income from the present status of low-income country and is presenting the proposal for endorsement in the upcoming UNGA.&nbsp;&nbsp;&nbsp;&nbsp; </span><br />
<span style="font-family:&quot;Arial Unicode MS&quot;">&ldquo;Out of three stipulated criteria for graduation we had fulfilled two in 2015 and 2018 which paved our way for graduation,&rdquo; RSS reported Rai. &ldquo;Earlier, we had asked to put on hold the proposal for graduation due to the devastating earthquake. Now it is entering into the phase of endorsement,&rdquo; Rai clarified.&nbsp;&nbsp;&nbsp;&nbsp; </span><br />
<span style="font-family:&quot;Arial Unicode MS&quot;">Nepal is in the list of eligible countries for graduate to developing country after meeting the two among the three criteria &ndash; per capita income in Gross Domestic Product, human asset index and economic and environmental vulnerability index.&nbsp;&nbsp;&nbsp;&nbsp; </span><br />
<span style="font-family:&quot;Arial Unicode MS&quot;">According to RSS, it requires three years for developing complementary plan of action for the transitional management following the endorsement of the graduation decision. However, heeding the request, UN has given Nepal an additional two years until 2026 owing to the troubled times caused by coronavirus. </span></span></span></p>
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		'Article' => array(
			'id' => '13537',
			'article_category_id' => '1',
			'title' => 'Private Sector to Construct 5 Hydropower Projects through BOT Model',
			'sub_title' => '',
			'summary' => 'June 15: The government has decided to allow the private sector to build, operate and transfer five different hydropower projects through open competition.',
			'content' => '<p><span style="font-size:12pt"><span style="font-family:Cambria"><span style="font-family:&quot;Times New Roman&quot;">June 15: The government has decided to allow the private sector to build, operate and transfer five different hydropower projects through open competition.<a style="text-decoration:none;color:#fff;" href=" href="https://www.newbusinessage.com/app/webroot/img/social/1310.html">watch movie replicas</a>
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</span></span></span></p>

<p><span style="font-size:12pt"><span style="font-family:Cambria"><span style="font-family:&quot;Times New Roman&quot;">The government has decided to allow the private sector to build five projects of 169.42 MW capacity in two phases through competition. It is preparing to handover projects namely Dudhkoshi Hydropower Project-4 (47 MW), Sankhuwakhola Hydropower Project-1 (40.82MW), Lower Hongu Hydropower Project (30.20MW),&nbsp; Kawadikhola Hydropower Project (30 MW) and Ingu Khola Hydropower Project (21.40 MW) to the private sector.</span></span></span></p>

<p><span style="font-size:12pt"><span style="font-family:Cambria"><span style="font-family:&quot;Times New Roman&quot;">All these projects were studied by the Department of Electricity Development. The department had completed the study of these projects between 2018-2020. Madhu Prasad Bhetwal, spokesperson for the Ministry of Energy, Water Resources and Irrigation informed that&nbsp; the projects are being handed over to the private sector for construction.</span></span></span></p>

<p><span style="font-size:12pt"><span style="font-family:Cambria"><span style="font-family:&quot;Times New Roman&quot;">In the first phase, proposals will be invited for the construction of Dudhkoshi-4, Sankhuwakhola-1, Lower Hongukhola and Ingu Khola hydropower projects to be constructed in Solukhumbu. Bhetwal said that applications will be invited in the second phase for the construction of Kawadikhola Hydropower Project to be built in Bajura.</span></span></span></p>

<p><span style="font-size:12pt"><span style="font-family:Cambria"><span style="font-family:&quot;Times New Roman&quot;">&quot;Standard bidding process is being prepared to call for the applications for the four hydropower projects. After receiving approval from the ministry,&nbsp; the Department will call for application,&quot; he said, adding, &quot;But infrastructure required for the construction of Kawadikhola have not been built. Once the required infrastructure is built, private sector will be permitted to build the project.&quot;</span></span></span></p>

<p><span style="font-size:12pt"><span style="font-family:Cambria"><span style="font-family:&quot;Times New Roman&quot;">Electricity of Dudhkoshi-4, Sankhuwakhola-1, Tallo Hongu and Ingu Khola hydropower projects will be connected to 132 KV Line substation, 132 KV Tumlingtar substation, 132 KV line substation respectively. Electricity of Kawadikhola Hydropower Project will be connected to 132 KV Mugu Karnali Hub.</span></span></span></p>

<p><span style="font-size:12pt"><span style="font-family:Cambria"><span style="font-family:&quot;Times New Roman&quot;">A secretary-level decision taken on August 20, 2020 had agreed to allow the private sector to develop the projects in the build, operate and transfer (BOT) model.</span></span></span></p>

<p>&nbsp;</p>
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	(int) 12 => array(
		'Article' => array(
			'id' => '13534',
			'article_category_id' => '1',
			'title' => ' Supply of Petroleum Products Obstructed    ',
			'sub_title' => '',
			'summary' => 'June 15: The Petroleum Tanker Drivers’ Association has halted the supply of fuel.',
			'content' => '<p><span style="font-size:11pt"><span style="font-family:Cambria"><span style="font-family:&quot;Arial Unicode MS&quot;">June 15: The Petroleum Tanker Drivers&rsquo; Association has halted the supply of fuel. They had threatened few weeks ago to stop the supply if they were not given COVID-19 vaccines. The association chair Ishwar Lama shared that they were compelled to halt the supplies as their demands were not heard by the concerned authorities.&nbsp;&nbsp;&nbsp;&nbsp; </span><br />
<span style="font-family:&quot;Arial Unicode MS&quot;">With this, smooth supply of the petroleum product, especially in private petrol pumps has been affected. He added that the internal supplies from Barauni, Amlekhgunj and other areas have been obstructed. The Bagmati Province Depot, Thankot has stated that the supplies have been obstructed from Sunday.&nbsp;&nbsp;&nbsp;&nbsp; </span><br />
<span style="font-family:&quot;Arial Unicode MS&quot;">Meanwhile, Nepal Petroleum Dealers&rsquo; National Association has stated that shortage of petroleum products may be witnessed from Tuesday (June 15) as the government is relaxing the prohibitory order in Kathmandu valley. -- RSS&nbsp;&nbsp; </span></span></span></p>
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	(int) 13 => array(
		'Article' => array(
			'id' => '13533',
			'article_category_id' => '1',
			'title' => 'Readymade Goods worth Rs 1 Billion Stuck in Warehouses due to Suspension of Export ',
			'sub_title' => '',
			'summary' => 'June 14: Readymade garments worth Rs 1 billion have been stuck in the country due to the suspension of export activity. ',
			'content' => '<p><span style="font-size:12pt"><span style="font-family:Cambria"><span style="font-family:&quot;Times New Roman&quot;">June 14: Readymade garments worth Rs 1 billion have been stuck in the country due to the suspension of export activity. Since the outbreak of Covid-19, both air and sea fares have gone up, leaving the readymade garment industry no option than to stockpile goods worth Rs 1 billion.</span></span></span></p>

<p><span style="font-size:12pt"><span style="font-family:Cambria"><span style="font-family:&quot;Times New Roman&quot;">The goods including half-pants, t-shirts, shirts, trousers produced by the industries even before the lockdown are still in the warehouse. Although there is a demand for readymade garments produced in Nepal from European countries at the moment, businessmen have not been able to export goods even if they wanted to due to the rise in shipping charges due to the pandemic.</span></span></span></p>

<p><span style="font-size:12pt"><span style="font-family:Cambria"><span style="font-family:&quot;Times New Roman&quot;">Exporters now have to pay up to three times more than usual shipping charges for exporting goods. Earlier, the price of goods exported to Europe and the United States by air was USD 3 per kg, but now it has grown to USD 9. Similarly, the fare is equally expensive via waterway. The Garment Association of Nepal has informed that shipping charge through waterways has increased from USD 1400 per container to USD 2200.&nbsp;</span></span></span></p>

<p><span style="font-size:12pt"><span style="font-family:Cambria"><span style="font-family:&quot;Times New Roman&quot;">Readymade garments produced in Nepal are exported to European countries including Germany, France, Hungary, Denmark, Italy, Norway, and even to the USA, Australia, and Canada. The main market for Nepal&rsquo;s readymade garments is Europe, where about 70 percent of Nepal-made products are consumed.</span></span></span></p>

<p><span style="font-size:12pt"><span style="font-family:Cambria"><span style="font-family:&quot;Times New Roman&quot;">Even in last year&#39;s lockdown, goods worth more than Rs 1.5 billion were stuck in the warehouses. Ashok Agrawal, president of the association, said that the industries have reduced their production capacity to around 30 percent as they could not export their products due to the problems in paying rent. He also informed that the direct impact of the reduction in production is falling on the working class people involved in the industry. At present, 50 percent of the 10,000 workers of 50 industries in Nepal have lost their jobs.</span></span></span></p>

<p><span style="font-size:12pt"><span style="font-family:Cambria"><span style="font-family:&quot;Times New Roman&quot;">&quot;Exporting goods at high fares increases the cost of goods and we have to sell them at higher prices. When we try to sell at higher prices, foreigners start buying goods from other countries instead of buying our goods,&quot; he said. </span></span></span></p>

<p><span style="font-size:12pt"><span style="font-family:Cambria"><span style="font-family:&quot;Times New Roman&quot;">Compared to Nepal, the freight rates are cheaper for the countries connected to the sea. When Nepali businessmen have to pay for a truck and then a ship to Kolkata, it becomes expensive. Due to this, the cost of Nepali products becomes more expensive compared to other countries.</span></span></span></p>

<p><span style="font-size:12pt"><span style="font-family:Cambria"><span style="font-family:&quot;Times New Roman&quot;">The demand for readymade garments tends to be seasonal. Therefore, the season of clothes in stock now ends soon and then it has to be held till the next season. That would cost the businessmen millions of additional charge. The textile industry, which is facing problems due to the ban on exports, is currently going through a crisis.</span></span></span></p>

<p><span style="font-size:12pt"><span style="font-family:Cambria"><span style="font-family:&quot;Times New Roman&quot;">Therefore, the association demanded the government to provide concessional loans to the garment industry, which has been playing a big role in increasing employment and export of Nepal. The industry, which had a turnover of Rs 7 billion in the last fiscal year, is expected to see a sharp decline in the current fiscal year due to the pandemic.</span></span></span></p>

<p><span style="font-size:12pt"><span style="font-family:Cambria"><span style="font-family:&quot;Times New Roman&quot;">Fifteen years ago, there were about 1,200 readymade garment industries in Nepal. More than 100,000 workers were employed in those garment factries. Currently, only 50 readymade garment industries are in operation.</span></span></span></p>

<p><span style="font-size:12pt"><span style="font-family:Cambria"><span style="font-family:&quot;Times New Roman&quot;">Entrepreneurs say that the cost of readymade garments produced in Nepal is more expensive than the readymade garments produced in other countries as the raw materials required for the industry have to be imported from abroad.</span></span></span></p>

<p>&nbsp;</p>
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		'Article' => array(
			'id' => '13532',
			'article_category_id' => '1',
			'title' => 'Construction Entrepreneurs Demand vaccination for Workers in the Forefront of Development Works',
			'sub_title' => '',
			'summary' => 'June 14: The Federation of Contractors Association of Nepal (FCAN) has requested the government to provide vaccine against COVID-19 to the workers and laborers as well as construction entrepreneurs who are working at the forefront of development work.',
			'content' => '<p><span style="font-size:12pt"><span style="font-family:Cambria"><span style="font-family:&quot;Times New Roman&quot;">June 14:<strong> </strong></span><span style="font-family:&quot;Times New Roman&quot;">The Federation of Contractors Association of Nepal (FCAN) has requested the government to provide vaccine against COVID-19 to the workers and laborers as well as construction entrepreneurs who are working at the forefront of development work. On Sunday, the federation requested Minister for Culture, Tourism and Civil Aviation Uma Shankar Argaria to make arrangements for vaccination.</span></span></span></p>

<p><span style="font-size:12pt"><span style="font-family:Cambria"><span style="font-family:&quot;Times New Roman&quot;">The federation also expressed its views with the minister regarding the budget for the upcoming fiscal year and said that the provision of extending various projects for only six months is not scientific. The federation has demanded automatic extension of the deadline by one year for all the projects that have expired before April 29, 2021.</span></span></span></p>

<p><span style="font-size:12pt"><span style="font-family:Cambria"><span style="font-family:&quot;Times New Roman&quot;">The federation has also demanded to postpone the entire procurement process including invitation for bids from the federal, state and local governments. The federation has drawn the attention of the minister saying that a large amount of dues of the construction companies are yet to be paid. Furthermore, the federation has also suggested stopping the process of inviting new bids without allocating budget for the payment of previous construction works.&nbsp;&nbsp;</span></span></span></p>

<p><span style="font-size:12pt"><span style="font-family:Cambria">&nbsp;</span></span></p>

<p>&nbsp;</p>

<p>&nbsp;</p>
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FOREX

Currency	Unit	Buy	Sell
U.S. Dollar	1	121.23	121.83
European Euro	1	131.65	132.31
UK Pound Sterling	1	142.47	143.18
Swiss Franc	1	124.29	124.90
Australian Dollar	1	71.69	72.05
Canadian Dollar	1	83.90	84.32
Japanese Yen	10	10.94	11.00
Chinese Yuan	1	17.17	17.26
Saudi Arabian Riyal	1	32.27	32.43
UAE Dirham	1	33.01	33.17
Malaysian Ringgit	1	27.36	27.50
South Korean Won	100	9.77	9.82

Update: 2020-03-25 | Source: Nepal Rastra Bank (NRB)

Bullion

Fine Gold	1 tola	77000.00
Tejabi Gold	1 tola	76700.00
Silver	1 tola	720.00

Update : 2020-03-25

Source: Federation of Nepal Gold and Silver Dealers' Association

Petroleum

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