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			'title' => 'Stakeholders' Reaction to Budget',
			'sub_title' => '',
			'summary' => 'May 30: The budget unveiled by the government on May 29 has drawn mixed reaction from various stakeholders.',
			'content' => '<p><span style="font-size:16px"><span style="font-family:Cambria"><span style="font-family:Times">May 30: The budget unveiled by the government on May 29 has drawn mixed reaction from various stakeholders. While some have hailed the government for introducing investment friendly budget and prioritizing vaccination drive against Covid-19, others have criticized the government for introducing a full-fledged budget through ordinance at a time when the parliament is dissolved.</span></span></span></p>

<p><span style="font-size:16px"><span style="font-family:Cambria"><strong><span style="font-family:Times">Burden of loans on future generation</span></strong></span></span></p>

<p><span style="font-size:16px"><span style="font-family:Cambria"><span style="font-family:Times">Dr Ramsharan Mahat, </span></span></span></p>

<p><span style="font-size:16px"><span style="font-family:Cambria"><span style="font-family:Times">Former Finance Minister</span></span></span></p>

<p><span style="font-size:16px"><span style="font-family:Cambria"><span style="font-family:Times">Overall the government has brought budget going beyond its jurisdiction. The caretaker government is not allowed to introduce a full budget program. The budget should also be a temporary one. But the government has introduced budget going against the spirit of constitution. Apart from that, the budget is populist in nature. It is very challenging to implement provisions introduced in the budget.</span></span></span></p>

<p><span style="font-size:16px"><span style="font-family:Cambria"><span style="font-family:Times">On top of that, the size of the budget at this time of crisis is too large. One third of the budget financing will be arranged through foreign loans. This will add burden of loans on future generation. I don&#39;t have objection on government&#39;s priority sector but overall the budget is not satisfactory.</span></span></span></p>

<p><span style="font-size:16px"><span style="font-family:Cambria"><strong><span style="font-family:Times">Budget has been introduced to cater to the present needs</span></strong></span></span></p>

<p><span style="font-size:16px"><span style="font-family:Cambria"><span style="font-family:Times">Dilliraj Khanal</span></span></span></p>

<p><span style="font-size:16px"><span style="font-family:Cambria"><span style="font-family:Times">Former member of the National Planning commission </span></span></span></p>

<p><span style="font-size:16px"><span style="font-family:Cambria"><span style="font-family:Times">The budget has been introduced proritizing the present COVID-19 crisis which is very commendable. Along with that, relief packages, tax waiver, increment on social security allowance has been introduced. The program of social security has been highly prioritized.</span></span></span></p>

<p><span style="font-size:16px"><span style="font-family:Cambria"><span style="font-family:Times">The budget has followed the same discourse as that of the world and has been criticised as a populist one. The aim of inoculating the people with COVID-19 vaccine is not a populist step but the need of the hour. However, it remains to be seen if the programme can be made effective and accountable.</span></span></span></p>

<p><span style="font-size:16px"><span style="font-family:Cambria"><strong><span style="font-family:Helvetica">Budget for upcoming fiscal year is way better than we had expected it to be</span></strong></span></span></p>

<p><span style="font-size:16px"><span style="font-family:Cambria"><span style="font-family:Helvetica">Shekhar Golchha, </span></span></span></p>

<p><span style="font-size:16px"><span style="font-family:Cambria"><span style="font-family:Helvetica">FNCCI president </span></span></span></p>

<p><span style="font-size:16px"><span style="font-family:Cambria"><span style="font-family:Helvetica">We are yet to do a detailed study of the budget presented for the upcoming fiscal year. I think the budget is friendly towards private sector as well as investment-friendly.</span></span></span></p>

<p><span style="font-size:16px"><span style="font-family:Cambria"><span style="font-family:Helvetica">Demands that we were raising for long have now been finally addressed. The budget program is way better than we had expected it to be. Tax rates applied on various businesses have gone down. The government has provided VAT rebate on diesel and increased the facilities introduced through monetary policy in the last fiscal year.</span></span></span></p>

<p><span style="font-size:16px"><span style="font-family:Cambria"><span style="font-family:Helvetica">The new issue of billing charges is the most encouraging one. If this is implemented, any power producer can directly sell it to the industry. This will bring a huge change in the industrial sector. All in all,the &nbsp;budget is private sector and investment-friendly.</span></span></span></p>

<p><span style="font-size:12pt"><span style="font-family:Cambria"><strong><span style="font-family:&quot;Times New Roman&quot;">Budget implementation is difficult</span></strong></span></span></p>

<p><span style="font-size:12pt"><span style="font-family:Cambria"><span style="font-family:&quot;Times New Roman&quot;">Rajendra Malla</span></span></span></p>

<p><span style="font-size:12pt"><span style="font-family:Cambria"><span style="font-family:&quot;Times New Roman&quot;">President, Nepal Chamber of Commerce</span></span></span></p>

<p><span style="font-size:12pt"><span style="font-family:Cambria"><span style="font-family:&quot;Times New Roman&quot;">While the budget of Rs 1,647.57 billion has been announced, the goal is to collect Rs 1024 billion from internal revenue. The goal seems to be very difficult to achieve. It could have been done under normal circumstances, but we are in a chaotic situation due to this pandemic. The goal is challenging in itself. Industries and businesses are in a state of collapse at present. Thus, the implementation of the budget is difficult. Nevertheless, suggestions from the private sector are included in the budget. DPR study of metro rail, temple construction and other issues are also included in the budget this year. It would not have made any difference even if it was included after one or two years. Attention should have been paid to the current priorities. Despite this, the overall budget is still positive. However, due to the current pandemic and political crisis, the implementation process is complicated and we are concerned about this.</span></span></span></p>

<p><span style="font-size:12pt"><span style="font-family:Cambria"><strong><span style="font-family:&quot;Times New Roman&quot;">Implementation should be done in collaboration with private sector</span></strong></span></span></p>

<p><span style="font-size:12pt"><span style="font-family:Cambria"><span style="font-family:&quot;Times New Roman&quot;">Satish Kumar Moore</span></span></span></p>

<p><span style="font-size:12pt"><span style="font-family:Cambria"><span style="font-family:&quot;Times New Roman&quot;">President, Confederation of Nepalese Industries</span></span></span></p>

<p><span style="font-size:12pt"><span style="font-family:Cambria"><span style="font-family:&quot;Times New Roman&quot;">Although some people were saying that the full budget should not be brought in such a situation, we were demanding that a full budget should be brought for policy making. Now, the full budget has been introduced where suggestions from the private sector have been addressed. The issue of billing charges has been raised. The budget is brought in a way that promotes infrastructure development, vaccine management and startup industry. We have found that the budget supports our important campaign of Make in Nepal. But its implementation is very challenging. So, we will also take initiative to create an environment of implementation in collaboration with the private sector.</span></span></span></p>

<p><span style="font-size:12pt"><span style="font-family:Cambria"><strong><span style="font-family:&quot;Times New Roman&quot;">Best budget in history</span></strong></span></span></p>

<p><span style="font-size:12pt"><span style="font-family:Cambria"><span style="font-family:&quot;Times New Roman&quot;">Krishna Dulal</span></span></span></p>

<p><span style="font-size:12pt"><span style="font-family:Cambria"><span style="font-family:&quot;Times New Roman&quot;">President, NADA </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 budget of the Fiscal Year 2078/79 has announced full exemption of excise duty on the import of electric vehicles. Similarly, renewal fee will be waived for five years if petroleum-powered vehicles are converted into electric vehicles, diesel-powered light vehicles will be replaced with electric vehicles by 2088, electric vehicles will be operated and assembled and production will be initiated, customs exemption will be given. It has been announced to give 90 percent income tax exemption to traders having transactions of up to Rs 2 million and 50 percent income tax exemption to traders having transactions of up to Rs 10 million. Similarly, that tax payment certificates will be automatically provided after submitting tax details, while the government has announced to build 500 charging stations, provide income tax exemption and loan to startup business for 5 years. So, overall the budget is encouraging. We consider it the best budget in history.&nbsp;</span></span></span></p>

<p><span style="font-size:12pt"><span style="font-family:Cambria"><strong><span style="font-family:&quot;Times New Roman&quot;">The goal of achieving a economic growth of up to 6.5 percent is challenging</span></strong></span></span></p>

<p><span style="font-size:12pt"><span style="font-family:Cambria"><span style="font-family:&quot;Times New Roman&quot;">Bhuvan Kumar Dahal</span></span></span></p>

<p><span style="font-size:12pt"><span style="font-family:Cambria"><span style="font-family:&quot;Times New Roman&quot;">President, Nepal Bankers Association</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 budget for the upcoming fiscal year is encouraging. But implementation is needed. It is necessary to submit the progress report by implementing the programmes addressed by the budget. At the moment, the goal of economic growth of up to 6.5 percent without controlling the pandemic is challenging. This is possible only after the Covid-19 pandemic is controlled, otherwise, it seems difficult. The goal can be achieved by bringing vaccines.</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 programmes related to banks and financial institutions introduced in the budget are commendable. Digital banking is encouraged for the banking business. It was necessary. The budget for infrastructure is well allocated. But looking at the past, there is a lack of coordination in development expenditure because such spending seems to be slow. It is important to implement the budget and address it in time.</span></span></span></p>

<p><span style="font-size:12pt"><span style="font-family:Cambria"><strong><span style="font-family:&quot;Times New Roman&quot;">The issue of the extension was not enough</span></strong></span></span></p>

<p><span style="font-size:12pt"><span style="font-family:Cambria"><span style="font-family:&quot;Times New Roman&quot;">Ravi Singh</span></span></span></p>

<p><span style="font-size:12pt"><span style="font-family:Cambria"><span style="font-family:&quot;Times New Roman&quot;">Chairman,</span> <span style="font-family:&quot;Times New Roman&quot;">Federation of Contractors Association of Nepal </span></span></span></p>

<p><span style="font-size:12pt"><span style="font-family:Cambria"><span style="font-family:&quot;Times New Roman&quot;">We have taken the budget positively. However, the provision regarding extension of projects is not sufficient. The tax rebates so far are also good. The amount allocated for hospitals is not enough. However,&nbsp;the projects should be planned to be fully paid within the project period while allocating the budget, but this preparation is still not seen. The budget seems to be focused on the election. Since it was brought to please everyone, there is no reliable basis on its implementation part.</span></span></span></p>

<p><span style="font-size:12pt"><span style="font-family:Cambria"><strong><span style="font-family:&quot;Times New Roman&quot;">Addresses the demands of tourism entrepreneurs</span></strong></span></span></p>

<p><span style="font-size:12pt"><span style="font-family:Cambria"><span style="font-family:&quot;Times New Roman&quot;">Binayak Shah&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;">Vice President</span><span style="font-size:10.0pt"><span style="font-family:Times">, </span></span><span style="font-family:&quot;Times New Roman&quot;">Hotel Association of Nepal</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 budget has announced a separate relief for tourism and is positive. We had anticipated emergency plans in tourism. It has come sporadically. However, many things have been addressed as demanded by the entrepreneurs. Decisions such as not charging one month&rsquo;s visa fee to foreigners and giving 10 days of tourism leave to promote domestic tourism are positive aspects. It is better to consider the hotel and tourism industry as a productive sector. Even though the budget is good, it remains to be seen how it will be implemented. It is also important to have supervision over whether it has been implemented or not.</span></span></span></p>

<p><span style="font-size:12pt"><span style="font-family:Cambria"><strong><span style="font-family:&quot;Times New Roman&quot;">There is no reason to be excited</span></strong></span></span></p>

<p><span style="font-size:12pt"><span style="font-family:Cambria"><span style="font-family:&quot;Times New Roman&quot;">Ganesh Prasad Lath</span></span></span></p>

<p><span style="font-size:12pt"><span style="font-family:Cambria"><span style="font-family:&quot;Times New Roman&quot;">Representative, FNCCI</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 budget has tried to satisfy everyone. Still, there are no grounds to be excited over it. It sounds good to hear about vaccinations and ICU as well as ventilators in hospitals. The topic of health infrastructures was included in the budget of the current fiscal year as well. Oxygen plants in hospitals of hundred beds are something related to regulation, the government has no role in investment in this issue. There aren&rsquo;t any special points in the budget that one can get excited about.</span></span></span></p>

<p><span style="font-size:12pt"><span style="font-family:Cambria"><strong><span style="font-family:&quot;Times New Roman&quot;">There are doubts in budget implementation</span></strong></span></span></p>

<p><span style="font-size:12pt"><span style="font-family:Cambria"><span style="font-family:&quot;Times New Roman&quot;">Rajendra Raut</span></span></span></p>

<p><span style="font-size:12pt"><span style="font-family:Cambria"><span style="font-family:&quot;Times New Roman&quot;">Central Member, FNCCI</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 size of the budget this year is larger in comparison to that of last year. The aim of revenue collection this year is greater as well. The success or failure of the budget would be decided by the implementation part. In the present crisis of pandemic, the allocation of 1 trillion budget for Covid-19 prevention is quite welcoming. Only 60 percent of the budget for infrastructure development was spent last year. Government has allocated budget in the projects that do not make complete use of the allocated budget. The implementation of this budget is doubtful.&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;">The budget allocated to reduce trade deficit, to reduce consumption of petroleum products, to encourage production of electric vehicles are praiseworthy. It is a good thing to introduce the programme to give tax discounts on electrical equipment in order to increase the consumption of produced electricity. But it would have been better if there was a provision to grant tax discounts on manufactured electric vehicles. The budget is lacking in some manner in order to make the agriculture sector self-reliant.</span></span></span></p>

<p><span style="font-size:12pt"><span style="font-family:Cambria"><strong><span style="font-family:&quot;Times New Roman&quot;">The budget is worth welcoming</span></strong></span></span></p>

<p><span style="font-size:12pt"><span style="font-family:Cambria"><span style="font-family:&quot;Times New Roman&quot;">Bhim Ghimire</span></span></span></p>

<p><span style="font-size:12pt"><span style="font-family:Cambria"><span style="font-family:&quot;Times New Roman&quot;">Province 1 President, Confederation of Nepalese Industries</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 approach to allocate budget prioritizing the health sector is a positive indication. The budget has tried to be inclusive of young entrepreneurs and it is a very good thing. I am very pleased as our demand of making the 650 bighas of land in Amduwa of Sunsari into an economic zone has been addressed which we have been demanding time and again. Similarly, we have also been demanding a state-level industrial exhibition for Province 1. </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&#39;s plan to shift industries of Kathmandu to Hetauda and the services provided for that matter are pretty exciting. To discourage import, antidumping would be implemented. The project by the government to encourage export of cement, slippers and shoes are praiseworthy.</span></span></span></p>

<p>&nbsp;</p>

<p>&nbsp;</p>
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			'title' => 'Finance Minister Introduces Budget of Rs 1,647.57 billion Through Ordinance ',
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			'summary' => 'Minister for Finance Bishnu Prasad Paudel has introduced the budget for the upcoming fiscal year (2021/22) with a plan to spend a total of Rs 1,647.57 billion. ',
			'content' => '<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt">May 29: Minister for Finance Bishnu Prasad Paudel has introduced the budget for the upcoming fiscal year (FY 2021/22) with a plan to spend a total of Rs 1,647.57 billion.&nbsp;<br />
Out of the total budget, Rs 678.61 billion has been allocated for recurrent expenditures, Rs 374.26 billion for capital expenditure, Rs 386.71 billion for fiscal transfer and Rs 207.97 billion for financing.&nbsp;<img alt="" src="/app/webroot/userfiles/images/7e8d4e61-13b4-4390-8130-31876b20a030%20-%20Copy%281%29.jpg" style="float:right; height:358px; width:500px" /><br />
To pay for its spending, the government has announced that it will collect Rs 1,024.9 billion in revenues and Rs 63.37 billion in foreign grants. For the deficit financing, Finance Minister Poudel said that the government will mobilize Rs 309.29 billion in foreign loans and Rs 250 billion in domestic borrowing. &nbsp;</span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt">The total spending amount is nearly 11.72 percent higher than the government&rsquo;s budget of Rs 1,474.64 billion for the current fiscal year (FY 2020/21).&nbsp;<br />
The spending includes a significant portion of allocation on healthcare, vaccination and other measures to combat Covid-19. Similarly, Finance Minister Paudel also announced a significant raise on social security allowances. </span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt">The budget was issued on May 29 through ordinance as the House of Representatives is currently dissolved.</span></span></span></p>
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			'title' => 'Government to Launch MDMS Software to Discourage Illegal Import of Smartphones',
			'sub_title' => '',
			'summary' => 'May 29: The government is set to launch the Mobile Device Management System. ',
			'content' => '<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:12.0pt"><span style="font-family:Arial">May 29: The government is set to launch the Mobile Device Management System (MDMS), &nbsp;a </span></span><span style="font-size:12.0pt"><span style="font-family:Arial">software</span></span><span style="font-size:12.0pt"><span style="font-family:Arial"> that allows IT administrators to control, secure and enforce policies on smartphones, tablets and other endpoints, from the upcoming fiscal year (July 16) </span></span><span style="font-size:12.0pt"><span style="font-family:Arial">&nbsp;in a bid to control the illegal import of mobile phones. </span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:12.0pt"><span style="font-family:Arial">Finance Minister Bishunu Poudel made this announcement while unveiling the budget for the upcoming fiscal year (FY 2021/22) on Saturday, May 29.</span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:12.0pt"><span style="font-family:Arial">MDMS&nbsp;will track mobile phones based on the IMEI number of those devices. The government is set to introduce the system to control the grey market of mobile phones and bring all the mobile phones under legal registration.&nbsp;</span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:12.0pt"><span style="font-family:Arial">According to Nepal Telecommunications Authority (NTA), it has allocated its own funds for the cost of designing, developing and operation the MDMS software.&nbsp;</span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:12.0pt"><span style="font-family:Arial">The government has also announced plans to extend broadband Internet service to all local units by utilizing &nbsp;the Rural Telecommunication Development Fund (RTDF). It has also announced to extend 4G service to all local units and provide free broadband service to all community schools in the next two years.&nbsp;</span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:12.0pt"><span style="font-family:Arial">While presenting the budget, Minister Poudel also made the announcement to complete the construction of the Information Superhighway within two years. Optical fiber projects that are being built in seven provinces form the backbone of the information highway. The state-owned telecom service provider, Nepal Telecom, is laying optical fiber in provinces 1, 2, Bagmati Province, Karnali Province and Sudurpaschim Province. In provinces 4 and 5, United Telecom Limited had received the contract but couldn&#39;t make any headway in the project. The case is now pending in the court as NTA refused to extend the deadline of the project for UTL.&nbsp;</span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:12.0pt"><span style="font-family:Arial">Finance Minister Poudel also announced to launch NTV World to broadcast the contents of the state-owned television channel all over the world.</span></span></span></span></p>

<p>&nbsp;</p>
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			'title' => 'Government Allocates Rs 26.75 Billion to Purchase anti-COVID-19 Vaccines ',
			'sub_title' => '',
			'summary' => 'May 29: The government has allocated Rs 26.75 billion in the budget of Fiscal Year 2021/22 for controlling COVID-19 pandemic.    ',
			'content' => '<p><span style="font-size:16px"><span style="font-family:Cambria"><span style="font-family:&quot;Arial Unicode MS&quot;">May 29: The government has allocated Rs 26.75 billion in the budget of Fiscal Year 2021/22 for controlling COVID-19 pandemic.&nbsp;&nbsp;&nbsp;&nbsp; </span><br />
<span style="font-family:&quot;Arial Unicode MS&quot;">While presenting the budget on Saturday (May 29), Finance Minister Bishnu Prasad Poudel said that Rs 26.75 billion has been allocated in the budget to purchase the anti-COVID-19 vaccines to be administered to all citizens free-of-cost.&nbsp;&nbsp;&nbsp;&nbsp; </span><br />
<span style="font-family:&quot;Arial Unicode MS&quot;">Minister Poudel added that Rs 37.57 billion was earmarked to curb the pandemic while Rs 5.60 billion has been allocated to purchase the medicines and equipment in view of controlling the pandemic.&nbsp;&nbsp;&nbsp;&nbsp; </span><br />
<span style="font-family:&quot;Arial Unicode MS&quot;">The Finance Minister further shared that the customs duty and taxes were reduced in importing the medical equipment and devices, the state-owned national news agency RSS reported. </span></span></span></p>

<p><span style="font-size:16px"><span style="font-family:Cambria"><span style="font-family:&quot;Arial Unicode MS&quot;">Meanwhile, Minister Poudel while presenting the budget said that the government has made arrangements for call centres, mobile service, telemedicine and psychological counseling to aide Covid-19 infected patients. </span><br />
&nbsp;</span></span></p>
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		'Article' => array(
			'id' => '13467',
			'article_category_id' => '1',
			'title' => 'Social Security Allowance for Senior Citizens Increased to Rs 4,000 Per Month',
			'sub_title' => '',
			'summary' => 'May 29: The government has increased the social security allowance for senior citizens by Rs 1,000 effective from Fiscal Year 2078/79. ',
			'content' => '<p><span style="font-size:12pt"><span style="font-family:Cambria"><span style="font-family:&quot;Times New Roman&quot;">May 29: The government has increased the social security allowance for senior citizens by Rs 1,000 effective from Fiscal Year 2078/79. With this, the social security allowance for senior citizens who are above 70 years of age has reached Rs 4,000 per month. In FY 2076/77, former finance minister Dr Yuba Raj Khatiwada had increased the senior citizen allowance to Rs 3,000. The increased allowance of senior citizens will come into effect from July 16, 2021.&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;">Presenting the budget for the upcoming fiscal year at Singha Durbar on Saturday, Finance Minister Bishnu Prasad Poudel announced that all types of social security allowances have been increased by 33 percent. He said that Rs 100 billion has been allocated for social security allowance. For the current fiscal year, Rs 67.50 billion was allocated for social security allowance.</span></span></span></p>

<p><span style="font-size:12pt"><span style="font-family:Cambria"><span style="font-family:&quot;Times New Roman&quot;">Senior citizen, Dalits, single women, disabled, terminally ill person, people from indigenous community, people living below poverty line, children will be provided social security allowance.</span></span></span></p>

<p><span style="font-size:12pt"><span style="font-family:Cambria"><span style="font-family:&quot;Times New Roman&quot;">Similarly, the government has announced free medical treatment for senior citizens.&nbsp;</span></span></span></p>

<p><br />
&nbsp;</p>
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			'article_date' => '2021-05-29 18:24:32',
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		'Article' => array(
			'id' => '13466',
			'article_category_id' => '1',
			'title' => 'Government Lists Tourism Industry in Productive Sector ',
			'sub_title' => '',
			'summary' => 'May 29: The government has categorized the hotel industry and tourism business as productive sector.',
			'content' => '<p><span style="font-size:18px"><span style="font-family:Cambria"><span style="font-family:&quot;Times New Roman&quot;">May 29: The government has categorized the hotel industry and tourism business as productive sector.</span></span></span></p>

<p><span style="font-size:18px"><span style="font-family:Cambria"><span style="font-family:&quot;Times New Roman&quot;">Minister for Finance Bishnu Poudel made such announcement while presenting the budget for the upcoming fiscal year on Saturday, May 29.</span></span></span></p>

<p><span style="font-size:18px"><span style="font-family:Cambria"><span style="font-family:&quot;Times New Roman&quot;">The government has listed tourism sector as productive sector as per the demand of the tourism entrepreneurs and hoteliers of the country. Tourism entrepreneurs had been pressing the government to include tourism industry in the productive sector since a long time.&nbsp;</span></span></span></p>

<p><span style="font-size:18px"><span style="font-family:Cambria"><span style="font-family:&quot;Times New Roman&quot;">The government has announced relief packages to provide concessional loans, tax exemption, and discounts on various types of charges to tourism and aviation businesses.</span></span></span></p>

<p><span style="font-size:18px"><span style="font-family:Cambria"><span style="font-family:&quot;Times New Roman&quot;">Last year, the government while announcing special packages for the productive sector as Covid-19 relief in the previous budget had excluded tourism and hotel business from the list.&nbsp;</span></span></span></p>

<p><span style="font-size:18px"><span style="font-family:Cambria"><span style="font-family:&quot;Times New Roman&quot;">Meanwhile, the new budget has announced a 30 percent waiver on electricity tarriffs for sectors with consumption of electricity above 200 units, which includes hotel industry.&nbsp;</span></span></span></p>

<p><span style="font-size:18px"><span style="font-family:Cambria"><span style="font-family:&quot;Times New Roman&quot;">Likewise, the government has waived the electricity demand fee of the hotel industry in the upcoming annual budget. The government will also provide the pledged relief packages to hotels that were used as quarantine and isolation facilities.&nbsp;</span></span></span></p>

<p><span style="font-size:18px"><span style="font-family:Cambria"><span style="font-family:&quot;Times New Roman&quot;">The budget also provides a waiver on renewal fees for tourism-related industries. &nbsp; </span></span></span></p>

<p><span style="font-size:18px"><span style="font-family:Cambria"><span style="font-family:&quot;Times New Roman&quot;">The government has also decided to provide 50 percent waiver on rents and give continuity to the concessional loan of 5 percent to support the tourism industry along with other productive sectors against Covid-19.&nbsp;</span></span></span></p>

<p><span style="font-size:18px"><span style="font-family:Cambria"><span style="font-family:&quot;Times New Roman&quot;">Likewise, Minister Poudel also announced to provide 10 days&rsquo; salary to a government official for promoting domestic tourism. </span></span></span></p>

<p><span style="font-size:18px"><span style="font-family:Cambria"><span style="font-family:&quot;Times New Roman&quot;">&ldquo;We will also encourage the private sectors to provide similar packages to their employees,&rdquo; the Minister added.</span></span></span></p>

<p><span style="font-size:18px"><span style="font-family:Cambria"><span style="font-family:&quot;Times New Roman&quot;">The government has announced plans to develop and promote Nepal as an attractive and safe tourism destination.&nbsp;&nbsp;&nbsp;</span></span></span></p>

<p><span style="font-size:18px"><span style="font-family:Cambria"><span style="font-family:&quot;Times New Roman&quot;">The government has allocated Rs 590 million for the development of tourism-related infrastructure in Janakpurdham and other destinations.&nbsp;</span></span></span></p>

<p><span style="font-size:18px"><span style="font-family:Cambria"><span style="font-family:&quot;Times New Roman&quot;">The government has also allocated budget to continue infrastructure development in Muktinath and Kagbeni and to build new hiking trails in Khaptad, Rara, Lower Dolpo, Simikot. </span></span></span></p>

<p><span style="font-size:18px"><span style="font-family:Cambria"><span style="font-family:&quot;Times New Roman&quot;">In addition, the government &nbsp;has plans to develop a cycling lane along the Phewa Lake in Pokhara and various trekking trails across the country.&nbsp;</span></span></span></p>

<p><span style="font-size:18px"><span style="font-family:Cambria"><span style="font-family:&quot;Times New Roman&quot;">Likewise, the government has allocated budget for establishing an integrated GPS system for rescuing and tracking tourists.&nbsp;</span></span></span></p>

<p><span style="font-size:18px"><span style="font-family:Cambria"><span style="font-family:&quot;Times New Roman&quot;">The government has announced plans to introduce special packages to promote adventure, agro, gastro, and religious tourism activities. Similarly, the government has announced plans to conduct a physical study for a sports project aiming to promote sports tourism.&nbsp;&nbsp;</span></span></span></p>

<p><span style="font-size:18px"><span style="font-family:Cambria"><span style="font-family:&quot;Times New Roman&quot;">The government has allocated Rs 27.47 billion for the development of tourism infrastructure and promotional activities.&nbsp;&nbsp;</span></span></span></p>

<p>&nbsp;</p>
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			'title' => '68th Anniversary of Mt Everest’s First Ascent: A Glorious Past and a Bleak Future',
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			'summary' => 'It has become one of the most crucial tasks to save Mt Everest and the other mountains of Nepal from the adverse impacts of global warming.',
			'content' => '<p><span style="font-size:22px"><em>It has become one of the most crucial tasks to save Mt Everest and the other mountains of Nepal from the adverse impacts of global warming.</em></span></p>

<p><img alt="" src="/app/webroot/userfiles/images/1234%281%29.jpg" style="height:169px; width:200px" /></p>

<p>Last year some mountain climbers asked me to participate in the International Mt Everest (Sagarmatha) Day, a day celebrated since 2007 to commemorate the first ascent of Mt Everest by Edmund Hilary and Tenzing Norgay on 29 May, 1953.&nbsp; Upon receiving the invitation card, I was surprised to see my name as &lsquo;Mt. Everest&rsquo; (Sagarmatha) whereas my local Tibetan name is &lsquo;Chomolungma&rsquo; which means &lsquo;Goddess Mother of the World&rsquo;. I asked them to explain the meaning of Mt. Everest (Sagarmatha). They told me, &quot;You were named after British surveyor and geographer Sir George Everest in 1865.&quot; Then I asked them, &quot;Ok, then what is the meaning of Sagarmatha and who gave me this name?&quot; They said, &quot;Sagarmatha means the Peak of Heaven and the name was given to you by the Nepali historian Baburam Acharya in 1956.&quot;</p>

<p>On May 29, a special programme was organised in the presence of different mountain culture groups, mountaineers and local people. I was surprised to see representatives of mountains above 8,000 metres and the seven highest peaks of the world at the programme. I was looking for Nawang Gombu Sherpa- the first mountaineer to conquer me twice, a record which he set in 1965. At that time, I heard someone calling my name &lsquo;Everest, Everest&rsquo;, which was familiar to me. I turned around to see the person was Sir Edmund Hilary. I greeted him and said, &quot;Hello Edmund! How are you? Are you alone or with Tenzin?&rdquo; He replied, &quot;Yes, he is here and is busy meeting some of his native friends,&quot; and asked me if I met the Japanese mountaineer Junko Tabei, the first female to climb the world&rsquo;s highest peak on May 16, 1975.</p>

<p>Then, Edmund took me to Pema Sherpa who was found with Tabei and Pasang Lhamu Sherpa. I had a strong desire to meet Pema because of her achievement as the first Nepali woman to climb the peak from the south and north sides on 29 May 2000 and 16 May 2002, respectively. Pasang Lhamu Sherpa is the first Nepali woman to wave the national flag on the top of the peak on 23 April 1993. They were together with the oldest female climber from Japan Tamae Watanabe who was 73 years old when she climbed the peak on May 19, 2012.</p>

<p><img alt="" src="/app/webroot/userfiles/images/saa.jpg" style="height:510px; width:800px" /></p>

<p>There I met Churim Sherpa, the first woman to conquer me twice during a single season -- on 12 May and May 19 of 2012. I noticed one of the oldest climbers Yūichirō Miura from Japan who was 80 years 224 days old when he reached the Everest summit on May 23, 2013. He was the first mountaineer to ski down 2,000 metres of Mt Everest on May 6, 1970. Miura beat the record of oldest Nepali oldest climber Min Bahadur Sherchan, who was 76 years 11 month 6 days when he climbed the peak on May 5, 2008. There I met Babu Chiri Sherpa, who stayed at the summit for over 21 hours without auxilary oxygen on 21 May 2000, a record which is yet to be broken.</p>

<p>The programme did not start on time, so I just wandered around the crowd and spotted Reinhold Messner from Italy and Peter Habler from Austria. These two Europeans were the first to set the world record for climbing the summit without supplement oxygen on May 8, 1978. With them was Lydia Bradey from New Zealand, the first woman to conquer Mt Everest without oxygen on October 14, 1988. &nbsp;</p>

<p>I also met the Polish mountaineer Kyzysztof Wielicki who is the first to reach the summit during the peak winter season when the temperature reaches -36 degrees celsius. He climbed the peak on February 17, 1980.&nbsp; Then there were the two Slovenes - Andrej Stremfelj and his wife Marija Stremfelj, first married couple to summit Mt Everest on October 7, 1990.&nbsp; Talking with them were Moni Mulepati and Pem Dorjee Sherpa, the Nepali couple who got married on the summit on May 30, 2005.</p>

<p>A French father and his son were also there to participate in the event. After reaching the summit on October 7, 1990, Jean-No&euml;l Roche and his 17-year old son Roche Bertrand a.k.a. &ldquo;Zebulon&rdquo; flew back to base camp from the South Col, a sharp edge col between Mt Everest and Mt Lhotse, via a 2-seater tandem paraglider. With this, Zebulon also became the youngest non-Nepali to reach the top. In the meantime, I saw the Spanish brothers Alberto and Felix I&ntilde;urrategi who ascended on September 25, 1992. Nepali climber Temn Chirri Sherpa, who conquered the highest peak on May 23, 2001 when he was 16 years old, was there busy talking to the first youngest Nepali climber Shambhu Tamang who reached the summit on May 5, 1973 when he was 17 years old.</p>

<p>I was also surprised to meet the American Thomas Whittaker who climbed the peak on one foot on May 27, 1998 to become the first differently-abled mountaineer to summit Mt Everest. Davo Karničar, a Slovene climber, one who did the first ski descent from the world&rsquo;s highest mountain peak on October 7, 2000 also attended the event. He also holds the record for ski descents from all seven summits.</p>

<p>Meeting the mountaineers on this special occasion was a special moment for me.&nbsp; So, without wasting this opportunity, I move on to meet Ang Chirring Sherpa, the first Nepali journalist to climb the peak on May 22, 2003. He was talking to Kalpana Maharjan, the first female journalist to summit Mt Everest; she climbed from the south (Nepal) side on May 23, 2018 and the north side (China) on May 23, 2019. Then, I came across three brothers, Lakpa Gelu Sherpa, Da Nuru Sherpa and Jangbu Sherpa, who were on the top on May 26, 2003. Lhakpa Gelu also made the world record for the fastest climb of Mt Everest within 10 hours 56 min and 46 sec. Then I saw another mountaineer Lhakpa Tharke Sherpa who stayed at the summit without upper body clothes for 3 minutes braving the -39 degrees celsius on May 24, 2006.</p>

<p>Among the participants were seven children of the same parents, who climbed Mt Everest on different dates. The siblings are Ang Chhiri, Nim Temba, Pema Tharki, Nima Gombu, Mingma Tsiri, Thundu and Pasang Tenzing Sherpa. Similarly, Sungdare Sherpa, who is considered as one of the strongest climbers and is the first mountaineer to summit the world&rsquo;s highest peak for five times, was among the attendees.</p>

<p>I was happy to meet other legendary mountaineers like the &lsquo;Snow Leopard&rsquo; Ang Rita Sherpa, the record holder of most summits without supplement oxygen; Apa Sherpa, a 21 times climber; Kami Rita Sherpa, a 25 times climber, Lhakpa Sherpa, a 9 times climber and Dave Hahn, a 15 times climber. The Indian climber Kushang Dorje Sherpa, the first person to reach the summit through the Southeast Ridge route on May 10, 1993 and May 28, 1998, Northeast Ridge route on May 17, 1996 and East Face on May 28, 1998, was there to celebrate the event organised to mark the first ascent of Mt Everest. &nbsp;</p>

<p>The new record holders Nirmal Purja and Mingma Gyabu were seen together in the event. They are the bravest mountaineers of modern mountaineering as the former British Gurkha soldier Purja has set the record for climbing all 14 highest mountains of the world within the shortest period of 6 months and 6 days. Likewise, at 31, Mingma became the youngest mountaineer to climb all 14 peaks.</p>

<p><img alt="" src="/app/webroot/userfiles/images/Clipboard01%2854%29.jpg" style="height:567px; width:800px" /></p>

<p>All members of the First Inclusive Women&#39;s Sagarmatha Expedition 2008 (FIWSE08), 9 Nepali civil service personnel of the Nepal Civil Servant First Mountain Everest Expedition, 2011 and team members of the Sagarmatha Height Measurement Expedition 2019 were also present at the event.</p>

<p>I was invited on stage for my remarks. I was a bit nervous but gathered my courage to speak up in front of the audience.</p>

<p>&quot;It is a great pleasure and honour to be here. I feel very delighted to have met 6,030 men and 471 women mountaineers so far. Mountaineering is full of risks. But mountains are blamed for the unfortunate accidents that have happened. The first accident on Mt Everest occurred in 1922 when seven porters and George Mallory of the British Mt. Everest Expedition lost their lives. Till date, more than 300 mountaineers have died trying to conquer me. Many record holder Nepali mountaineers are in different professions in developed nations, whereas foreign mountaineers are living like celebrities in their countries. Foreign climbers are well educated and earn money by selling their autobiographies, charging fees to attend talk shows and other programmes, and by engaging in other activities. But Nepali mountaineers don&rsquo;t have such avenues of income.</p>

<p>There is less attraction among Nepali youngsters to get into the mountaineering profession because of high risks, income uncertainty and other hardships. Now the time has come to think on this issue, otherwise there will be a scarcity of human resources in mountaineering by the next 2-3 decades.</p>

<p>While mountains in certain parts of the country have gained enormous national and international highlights over these years, the mountains of Nepal&rsquo;s far-western region have faced neglect. There are so many amazing mountains in this region, but the mountaineering activities are centered only on few regions. As a result of the increased tourism activities and its effect on the local economy, the living standard of people in the Khumbu region is much better than people of other mountainous regions. Expansion of tourism activities in other regions is important to uplift the lives local people. Hence, there is a need to start working on equitable development of Nepal&rsquo;s mountain tourism.</p>

<p>Over these years, many mountaineering expeditions have been conducted to raise international awareness about global warming and its effect on mountains. The situation has become alarming as there is a formation of ponds on the surface of the Khumbu Glacier due to ice melt; such water bodies did not exist a couple of decades ago. In the last 10 years, the separately formed ponds have started to join to form larger water bodies. For example, Imja Tsho or the Imja Lake, which did not exist till 1960, now has an estimated 2.6 billion litres of water. Lives of people and their houses, farm animals and monasteries are in great danger as the glacial lake can burst any time. The outburst of the glacial lake Dig Tsho in 1985 damaged several villages and claimed the lives of three people.</p>

<p>Although Nepal&rsquo;s share in climate change is negligible compared to developed and emerging economies, the country is among the 10 most affected countries due to global warming. Every year the rate of mountain snow melt is increasing, and if this continues, one day the peaks will remain only like gigantic black rocks without snow. The accelerating snow melt will increase the possibility of devastating floods and rise in sea levels affecting millions of people and animals, and adversely impact vegetation in different parts of the world. Before all this happens, people need to come together to mitigate the impact of climate change. As a mountain, I want my snow back and want it to melt naturally. Here I stand in front of you asking you to save the mountains for the earth&rsquo;s future.&quot;<br />
The hall could have heard a pin drop.</p>

<p><strong><em>(Sindurakar is former Chief Administrative Officer of Nepal Mountaineering Association.)</em></strong></p>
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			'title' => 'Three Ordinances Related to Budget Issued ',
			'sub_title' => '',
			'summary' => 'May 29: President Bidya Devi Bhandari has issued three ordinances related to budget for the upcoming fiscal year.   ',
			'content' => '<p><span style="font-size:16px"><span style="font-family:Cambria"><span style="font-family:&quot;Arial Unicode MS&quot;">May 29:<em> </em>President Bidya Devi Bhandari has issued three ordinances related to budget for the upcoming fiscal year.&nbsp;&nbsp;&nbsp;&nbsp; </span><br />
<span style="font-family:&quot;Arial Unicode MS&quot;">According to the Office of the President, the &lsquo;Economic Ordinance, 2078&rsquo;, &lsquo;Appropriation Ordinance, 2078&rsquo; and &lsquo;Ordinance to Raise National Debt, 2078&rsquo; were issued on May 29.&nbsp;&nbsp;&nbsp;&nbsp; </span><br />
<span style="font-family:&quot;Arial Unicode MS&quot;">A meeting of the Council of Ministers had recommended the President to issue the ordinances. </span></span></span></p>

<p><span style="font-size:16px"><span style="font-family:Cambria"><span style="font-family:&quot;Arial Unicode MS&quot;">Minister for Finance Bishnu Prasad Poudel presented the budget for the fiscal year 2078/79 BS today (May 29). --RSS</span></span></span></p>
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			'title' => 'Achieving Economic Growth Target is Challenging: Finance Minister',
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			'summary' => 'May 29: Finance Minister Bishnu Prasad Poudel has said it would be difficult to achieve the economic growth target determined for the current fiscal year due to the COVID-19 pandemic.   ',
			'content' => '<p><span style="font-size:16px"><span style="font-family:Cambria"><span style="font-family:&quot;Arial Unicode MS&quot;">May 29: Finance Minister Bishnu Prasad Poudel has said it would be difficult to achieve the economic growth target determined for the current fiscal year due to the COVID-19 pandemic.&nbsp;&nbsp;&nbsp;&nbsp; </span><br />
<span style="font-family:&quot;Arial Unicode MS&quot;">The Finance Minister made such remark while launching the Economic Survey at the Ministry of Finance on Friday afternoon (May 28), according to the state-owned national news agency RSS. On the occasion, he shared that it was a challenge even to achieve revised economic growth target in the current fiscal year.&nbsp;&nbsp;&nbsp;&nbsp; </span><br />
<span style="font-family:&quot;Arial Unicode MS&quot;">The government had set the target of achieving 7 per cent economic growth while launching the budget for the current fiscal year. It had later lowered that figure and estimated economic growth to be 4.01 per cent in view of the coronavirus pandemic.&nbsp;&nbsp;&nbsp;&nbsp; </span><br />
<span style="font-family:&quot;Arial Unicode MS&quot;">According to the Finance Minister, a situation has arisen in which the revised projected target of 4.01 per cent also could not be achieved as prohibitory order has been issued in many places of the country to contain the spread of the second wave of COVID-19.&nbsp;&nbsp;&nbsp;&nbsp; </span><br />
<span style="font-family:&quot;Arial Unicode MS&quot;">He, however, added that most of the macroeconomic indicators were positive even in the adverse situation of the pandemic.&nbsp;&nbsp;&nbsp;&nbsp; </span><br />
<span style="font-family:&quot;Arial Unicode MS&quot;">Finance Minister Poudel said that domestic investment has expanded, the scope of financial access, capital market and insurance has broadened, the overall balance of payment situation was in reserve and the remittance inflow and foreign exchange reserve have increased. .</span></span></span></p>

<p><span style="font-size:16px"><span style="font-family:Cambria"><span style="font-family:&quot;Arial Unicode MS&quot;">Meanwhile, it has been learnt that the government is making preparations to announce the budget for the upcoming fiscal year through an ordinance at 4 PM today afternoon (May 29).</span></span></span></p>
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			'title' => 'Public Enterprises’ Net Profit, Revenue Decline as Covid-19 Hits their Businesses ',
			'sub_title' => 'However, govt collects Rs 14.9 billion in cash dividend from five profit-making public enterprises, a jump by 48.87 percent from previous fiscal year’s return ',
			'summary' => 'Total net profit of government-owned public enterprises has fallen by 1.21 percent to Rs 48.29 billion in the last fiscal year (2019/20) from Rs 48.89 billion in the previous fiscal year. ',
			'content' => '<p>May 28:&nbsp; Total net profit of government-owned public enterprises has fallen by 1.21 percent to Rs 48.29 billion in the last fiscal year (2019/20) from Rs 48.89 billion in the previous fiscal year.&nbsp;<br />
According to the report of &lsquo;Annual Status Review of Public Enterprises 2021&rsquo; released by the Ministry of Finance on Friday, 24 out of 44 enterprises in existence earned a profit while 18 incurred losses. Other two public enterprises did not make any transaction, according to the report.&nbsp;<br />
Government officials blame the fall in the net profit of public enterprises to a decline in their businesses due to the Covid-19 and the pandemic induced containment measures.&nbsp;<br />
The impact of the Covid-19 is also reflected in their revenues, according to government officials. The review report, commonly known as Yellow Book, shows a 6.91 percent decline in total revenue of all public enterprises to Rs 460.39 billion in the last fiscal year. The combined revenue of public enterprises was Rs 494.59 billion in the previous fiscal year.&nbsp;<br />
With a net profit of Rs 12.91 billion in the last fiscal year, Nepal Oil Corporation stood at the top of the list of five highest profit earners. Other four public enterprises were Nepal Electricity Authority (Rs 11.04 billion), Nepal Doorsanchar Company Ltd (Rs 9.75 billion), Rastriya Banijya Bank Ltd ( Rs 4.38 billion) and Agricultural Development Bank Ltd (Rs 3.33 billion). &nbsp;&nbsp;<br />
The government received a total of Rs 14.9 billion in cash dividend from public enterprises, a jump by 48.87 percent of the return in the previous fiscal year.&nbsp;<br />
Only five public enterprises were able to pay cash dividends to the government. Nepal Doorsanchar Company Ltd was the highest dividend payer to the government with its contribution of 43.82 percent in the total cash dividend. Nepal Oil Corporation&rsquo;s contribution in the total dividend was 36.56 percent.&nbsp;<br />
However, the return on equity ratio stands at only 4.88 percent.&nbsp;<br />
The Yellow Book shows that the government&rsquo;s investment has gone up by 11.74 percent in public enterprises to Rs 519.55 billion. Share or equity investment accounts for 55.52 percent (Rs 288.65 billion) of the total investment. The remaining 44.48 percent (Rs 230.89 billion) of the investment the government has made in these public enterprises is in the form of loans.&nbsp;</p>

<p>As the government has been financing big capital projects including hydropowergeneration and transmission projects, airports and drinking water project through public enterprises, the investment is on the rise, according to the report.&nbsp;<br />
&nbsp;</p>
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		'Article' => array(
			'id' => '13461',
			'article_category_id' => '1',
			'title' => 'Govt Built 1,338 km of New Roads in Current Fiscal Year: Economic Survey Report',
			'sub_title' => 'After dissolution of the House of Representatives, Finance Minister Paudel releases Economic Survey report amid a virtual press meet',
			'summary' => 'The federal government has expanded 1,338 km of new roads that include 284 km of mud roads, 504 km of gravel roads and 550 km of black topped roads in the first eight months of the current fiscal year 2020/21.',
			'content' => '<p>May 28: The federal government has expanded 1,338 km of new roads that include 284 km of mud roads, 504 km of gravel roads and 550 km of black-topped roads in the first eight months of the current fiscal year (FY 2020/21).<br />
Releasing the report of the Economic Survey 2020/21 on Friday, the Ministry of Finance said that the total length of roads has reached 33,528 km as of mid-February including 15,974 km of black-topped roads, 8,582 km gravel roads and 8,972 km of mud roads.<br />
Releasing the survey report amid a virtual ceremony, Minister for Finance Bishnu Prasad Paudel claimed that the government achieved a significant progress in infrastructure development and transportation sector during the review period.<br />
While the government is required to present the Economic Survey at the Federal Parliament, Finance Minister Paudel released the survey report amid a virtual press conference as the House of Representatives was dissolved by President Bidya Devi Bhandari last Friday upon the recommendation of Prime Minister KP Sharma Oli.<br />
According to the survey report, the government built 129 new bridges in the review period compared to 210 bridges constructed in the last fiscal year (FY 2019/20).<br />
Likewise, the Economic Survey shows that access to insurance reached 23.4 percent of the total population by mid-March 2020 compared to 22 percent in the same period last year.<br />
Addressing the virtual press meet, Finance Minister Paudel said that the country&#39;s major economic indicators are positive despite a shrink in economic activities due to Covid-19.<br />
Though the Central Bureau of Statistics (CBS) had made a preliminary estimate of 4.01 percent of economic growth in the current fiscal year, economists say that the GDP growth is likely to remain way below the estimate of CBS which was based on an assumption that the prohibitory period imposed in many parts of the country to contain the second wave of coronavirus would not last more than two weeks. However, the prohibitory period in Kathmandu Valley, which started on April 29, has been extended till June 3.&nbsp;<br />
Finance Minister Paudel pointed to lower average inflation, increase in revenue collection and mobilization of international assistance, improvement in external sector position, stock market rally and progress in human and social development, among other indicators, to paint a rosy picture of the economy.<br />
&nbsp;<br />
&nbsp;</p>
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			'article_date' => '2021-05-28 18:26:32',
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		'Article' => array(
			'id' => '13460',
			'article_category_id' => '1',
			'title' => 'Nepal’s Development Partners Call for Quick Purchase of Vaccines',
			'sub_title' => '',
			'summary' => 'Nepal’s Covid-19 vaccination drive, which started with a bang, has sputtered to an uneasy close, stoking fears of a rapid rise in infection -- including in rural areas that were largely untouched by the first wave -- and heavy loss of lives.',
			'content' => '<p><span style="font-size:18px"><span style="font-family:Calibri">Rupak D Sharma</span></span></p>

<p><span style="font-size:18px"><span style="font-family:Calibri">Kathmandu, May 28</span></span></p>

<p><span style="font-size:18px"><span style="font-family:Calibri">Nepal&rsquo;s Covid-19 vaccination drive, which started with a bang, has sputtered to an uneasy close, stoking fears of a rapid rise in infection -- including in rural areas that were largely untouched by the first wave -- and heavy loss of lives.</span></span></p>

<p><span style="font-size:18px"><span style="font-family:Calibri">The commitments expressed by various countries as well as development partners, such as the Asian Development Bank (ABD) and the World Bank (WB), to support Nepal to restart its vaccination campaign are consoling. But the nature of coronavirus is such that it spreads rapidly. And delays of even a few days can wreak havoc. Just look at how rapidly the death toll has jumped. It stood at around 3,200 until a month ago and has since more than doubled to over 7,000.</span></span></p>

<p><span style="font-size:18px"><span style="font-family:Calibri">&ldquo;When it comes to vaccines, Nepal cannot and should not wait.... The World Bank and ADB commit to funding Nepal&rsquo;s eligible vaccines that have WHO listing. We will do this today if the contracts between the government and eligible providers are ready. We are ready and on standby,&rdquo; Faris Hadad-Zervos, World Bank Country Director, said in a written statement made available to the New Business Age.</span></span></p>

<p><span style="font-size:18px"><span style="font-family:Calibri">The WB has provided US$75 million and the ADB an additional US$165 million to the government for procurement of safe and effective vaccines. China recently said it is ready to offer 1 million additional doses. Other countries, including the US, the UK and those in the European Union, too have said they would support Nepal to rollout vaccines.</span></span></p>

<p><span style="font-size:18px"><img alt="" src="/app/webroot/userfiles/images/Daily%20new%20cases.jpg" style="height:378px; width:607px" /></span></p>

<p><span style="font-size:18px"><span style="font-family:Calibri">Nepal, which has a population of about 30 million, was among the first in Asia to receive Covid-19 vaccines. It has administered around 2.74 million doses so far, which include vaccines provided in the form of grants by India and China. Early vaccine rollout in Nepal was seen as a feat by many. Then, the drive went into a tailspin. This was not because the country lacked financial resources but because of the choices it made. </span></span></p>

<p><span style="font-size:18px"><span style="font-family:Calibri">Initially, the government was too focused on getting the vaccines for free. Later initiatives were taken to purchase them and one million doses were even bought from India. Then the health minister made statements saying some of the people, who were seeing the vaccination drive as a gravy train, were creating obstructions in the procurement process. This controversy dragged on for some period and by the time it subsided, India, one of the world&rsquo;s largest vaccine suppliers, was in the grips of the second wave of the pandemic. This left India with no choice but to stop exports of vaccines. </span></span></p>

<p><span style="font-size:18px"><span style="font-family:Calibri">The second wave of pandemic that hit India entered Nepal in no time. Soon hospitals started coming under intense pressure and the demand for oxygen and other critical medical equipment such as ventilators surged. The EU and its member states, the US, the United Nations, Switzerland, and the UK, for example, have supplied oxygen equipment, ventilators, personal protective equipment (PPE) and other medical equipment. </span></span></p>

<p><span style="font-size:18px"><span style="font-family:Calibri">&ldquo;We are also quickly mobilising emergency support with an initial 2 million euros towards the UN&rsquo;s COVID appeal. We stand ready to provide further assistance,&rdquo; said Janez Lenarčič, European Commissioner for Crisis Management in a statement provided to the New Business Age, thanking Finland, Spain, France, Germany and Belgium &ldquo;for their quick and generous offers of assistance via the Civil Protection Mechanism&rdquo;.</span></span></p>

<p><span style="font-size:18px"><span style="font-family:Calibri">The development partners have also formed the Health Working Group to respond to Nepal&rsquo;s needs in a coordinated manner through a single window. This is expected to maximize the efficiency in meeting Nepal&rsquo;s Covid-related needs and streamline support. Several development partners have also immediately deployed their technical expertise to inform a fast-tracked response.</span></span></p>

<p><span style="font-size:18px"><span style="font-family:Calibri">&ldquo;The UK has had a technical team working in the Ministry of Health and Population for some years. The team has proved to be invaluable in being able to support the government in shaping the response to COVID-19. They have advised on the Rapid Response Plan, the specifications for equipment, design of treatment facilities, epidemiology, analysis, data and much more,&rdquo; said Lisa Honan, British Embassy&rsquo;s Development Director in a statement provided to the New Business Age.</span></span></p>

<p><span style="font-size:18px"><img alt="" src="/app/webroot/userfiles/images/PCR%20Tests.jpg" style="height:380px; width:609px" /></span></p>

<p><span style="font-size:18px"><span style="font-family:Calibri">The government has formed a high-level body, called Covid-19 Crisis Management Centre (CCMC), to take the lead in managing and coordinating the fight against the pandemic. Although many have supported formation of such a body, its image has been tarnished to some extent because of allegations of corruption levelled against it. Many are expecting the body to operate more professionally and in a transparent manner as the government has recently appointed former Nepal Army Lieutenant General Balananda Sharma as its CEO. But it has been suggested that it rope in more technical and public health experts who can help the body make streamlined, scientific, evidence-based and practical decisions to minimise health, social and economic impacts of the pandemic.</span></span></p>

<p><span style="font-size:18px"><span style="font-family:Calibri">Nepal is facing a host of problems in dealing with the pandemic largely because it has failed to make adequate investment in public health infrastructure. Of course, the healthcare system of even the developed countries came under severe pressure during the pandemic. But, globally, lessons are being learnt and preparations are simultaneously being made to tackle such problems effectively and efficiently. In Nepal too calls are being made to strengthen public health infrastructure by engaging local governments. This should be supplemented by countrywide expansion of universal health insurance scheme, as many of the Covid-19 infected hesitated to visit hospitals because of the costs involved in the medical treatment. Germany, which provides one of the world&rsquo;s best universal health insurance schemes using private and quasi-private agencies, is already supporting Nepal on this front. The country needs an affordable universal health insurance plan to build human capital.</span></span></p>

<p><span style="font-size:18px"><span style="font-family:Calibri">&ldquo;Several years of common effort to build a universal health insurance, together with GIZ and other partners, provide excellent experience and the first building blocks for fulfilling this task,&rdquo; said Ambassador of Germany to Nepal Roland Sch&auml;fer in a statement provided to the New Business Age.</span></span></p>

<p><span style="font-size:18px"><span style="font-family:Calibri">Had mechanisms like universal health insurance and a good public health infrastructure been in place, Nepal perhaps would not have had to impose one of the severest lockdowns in the world to contain the spread of the disease. During the first wave of the pandemic, entire Nepal was shut down for almost four months from March 24, 2020. The restrictions in movement brought the economy to a standstill, as almost all of the enterprises remained closed, supply chains were disrupted and many employees were relieved of their duties or were asked to take sharp pay cuts. This is expected to have made 1.6 million jobless and pushed 1.2 million into the poverty trap.</span></span></p>

<p><span style="font-size:18px"><img alt="" src="/app/webroot/userfiles/images/Positive%20rate%281%29.jpg" style="height:381px; width:608px" /></span></p>

<p><span style="font-size:18px"><span style="font-family:Calibri">Nepal has not imposed a nationwide lockdown to tackle the second wave of pandemic, but almost all the districts have issued prohibitive orders since the end of April, severely restricting movements. Although an official study on the impact of the second round of lockdown has not been conducted, a survey done by the General Federation of Nepalese Trade Unions (GEFONT) in 60 districts showed that 3.65 million people have lost their jobs so far. Effect on livelihood of daily wage earners, persons with disabilities and people from disadvantaged groups with no access to formal social safety net is not immediately known. But impact is likely to be greater this time as infection rate has not gone down even after a month of lockdown and the virus has penetrated rural areas as well which largely remained safe during the first wave of pandemic.</span></span></p>

<p><span style="font-size:18px"><span style="font-family:Calibri">The only government mechanism that can provide a safety net at times like these is the Prime Minister Employment Programme (PMEP), but it has not been able to provide relief to the most vulnerable. Around 187 countries around the world are already providing emergency cash transfers, mainly by expanding existing programmes, according to the World Bank. But Nepal has not been able to make use of its social protection programme, although the PMEP guideline allows distribution of subsistence allowance equivalent to 50 percent of wages of unworked days to registered beneficiaries. </span></span></p>

<p><span style="font-size:18px"><span style="font-family:Calibri">Earlier, the government had introduced the Business Continuity Loan Scheme -- under which credit of up to Rs 100 million was pledged for a minimum of two years at five percent (first year) to six percent (second year) interest -- to save jobs as well as enterprises. But there were very few takers of this credit, as the scheme came with conditions that many businesses could not meet. Many are demanding that a similar scheme with fewer conditions be introduced to aid enterprises that are on the verge of bankruptcy. There are also calls for increasing the size of the refinance fund at the central bank -- and donors have expressed commitment to contribute to it -- to continue providing subsidised funding to priority sectors, particularly small and medium enterprises affected by the pandemic.</span></span></p>

<p><span style="font-size:18px"><span style="font-family:Calibri">&ldquo;Supporting the recovery of enterprises and investment growth is a crucial part of post-Covid recovery,&rdquo; said Swiss Ambassador to Nepal Elisabeth von Capeller in a statement provided to the New Business Age, adding, &ldquo;Switzerland, in partnership with the World Bank, is supporting the Government of Nepal to drive forward much needed reforms and help MSMEs [micro, small and medium enterprises] recover and rebound.&rdquo; </span></span></p>

<p><span style="font-size:18px"><span style="font-family:Calibri">Going forward, Nepal needs to prepare a coherent plan to revive the businesses and the economy, as growth contracted by two percent in the last fiscal year and the central bank has already ruled out the possibility of attaining four percent growth rate projected by the Central Bureau of Statistics for this year. </span></span></p>

<p><span style="font-size:18px"><span style="font-family:Calibri">But for now Nepalis want one thing: vaccine.</span></span></p>

<p><span style="font-size:18px">&ldquo;Vaccination program is the urgent need of the hour and the World Bank and ADB are working closely with the government and all partners in procuring and delivering COVID-19 vaccines safely and effectively. Vaccination not only saves lives and but also mitigates the negative economic impacts of the pandemic by restoring people&rsquo;s ability to work and travel safely,&rdquo; said Rudi Van Dael, Unit Head, Portfolio Management, of the Asian Development Bank Nepal Resident Mission, in a statement provided to the New Business Age.</span></p>

<p><span style="font-size:18px"><span style="font-family:Calibri"><em>(Based on views expressed by Asian Development Bank, British Embassy, European Union, German Embassy, Embassy of Switzerland, and World Bank)</em></span></span></p>

<p>&nbsp;</p>
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		'Article' => array(
			'id' => '13459',
			'article_category_id' => '1',
			'title' => 'Hotel Industry on the Verge of Collapse: HAN',
			'sub_title' => 'Hoteliers urge the government to adopt a policy to support them',
			'summary' => 'May 28: The Hotel Association of Nepal (HAN) has said that the hotel industry will collapse if the government does not adopt policies to support the tourism and hotel industries.',
			'content' => '<p><span style="font-size:16px"><span style="font-family:Times"><span style="font-family:&quot;Times New Roman&quot;">May 28: The Hotel Association of Nepal (HAN) has said that the hotel industry will collapse if the government does not adopt policies to support the tourism and hotel industries. The umbrella body of hotel operators drew the government&#39;s attention stating that Covid-19 has severely affected the hotel industry and needs a government&rsquo;s support and budget for revival.</span></span></span></p>

<p><span style="font-size:16px"><span style="font-family:Times"><span style="font-family:&quot;Times New Roman&quot;">Issuing a press statement on May 27, HAN demanded the government to address various issues that have troubled them. The association has requested the government to address severely affected industries, establish protection funds, provide concession on tax including special concessions, waivers, banking concessions, rebates on electricity tariffs and charges, suspension of financial obligations, in addition to staff and workers welfare scheme and promotion of internal tourism.</span></span></span></p>

<p><span style="font-size:16px"><span style="font-family:Times"><span style="font-family:&quot;Times New Roman&quot;">According to HAN, the hotel industry, hit by the global pandemic, has not been able to get back on track due to the second wave of coronavirus infection. It is mentioned in the press statement that the hoteliers are in a state of great confusion and panic regarding the risk of their hotel business.</span></span></span></p>

<p><span style="font-size:16px"><span style="font-family:Times"><span style="font-family:&quot;Times New Roman&quot;">Shreejana Rana, president of HAN, said that the employment of millions of individuals dependent on the hotel and tourism business is at stake.&nbsp;</span></span></span></p>

<p><span style="font-size:16px"><span style="font-family:Times"><span style="font-family:&quot;Times New Roman&quot;">Likewise, the press statement says that many hoteliers have been compelled to flee due to the current situation. HAN said that the tourism and hotel industry is at risk of collapsing.</span></span></span></p>

<p><span style="font-size:16px"><span style="font-family:Times"><span style="font-family:&quot;Times New Roman&quot;">The statement further says it would take time for tourism to return to normalcy even after the coronavirus pandemic subsides. HAN has also demanded the government to establish a business protection fund for the revival of the hotel industry and an employment protection fund for its dependent employees and workers.</span></span></span></p>

<p><span style="font-size:16px"><span style="font-family:Times"><span style="font-family:&quot;Times New Roman&quot;">Similarly, HAN has demanded the government to provide concession in tax for 3 years along with 50 percent exemption in value-added tax till the business returns to normalcy. HAN also stressed the need to waive direct taxes levied by the federal, provincial, and local governments on the hotel sector for the next three years. The association also has asked for a 50 percent discount on electricity tariffs for the next two years.&nbsp;</span></span></span></p>

<p><span style="font-size:16px"><span style="font-family:Times"><span style="font-family:&quot;Times New Roman&quot;">Likewise, the association also has demanded the government introduce policies to promote domestic tourism.</span></span></span></p>

<p>&nbsp;</p>
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		'Article' => array(
			'id' => '13458',
			'article_category_id' => '1',
			'title' => 'Remittance Companies Urge Central Bank to Facilitate them in Availing their Services',
			'sub_title' => '',
			'summary' => 'May 28: With the extension of prohibitory order, remittance companies have been facing problems in acquiring passes for transportation. ',
			'content' => '<p><span style="font-size:16px"><span style="font-family:Times"><span style="font-family:&quot;Times New Roman&quot;">May 28</span>: <span style="font-family:&quot;Times New Roman&quot;">With the extension of prohibitory order, remittance companies have been facing problems in acquiring passes for transportation. This has in turn affected not only their business but also people from availing their service. Thus, remittance companies have requested Nepal Rastra Bank to facilitate in remittance payment.</span></span></span></p>

<p><span style="font-size:16px"><span style="font-family:Times"><span style="font-family:&quot;Times New Roman&quot;">The Umbrella Organization of Nepal Remitters Association has submitted a written request to the District Administration Office to arrange transportation passes for at least a limited number of employees.</span></span></span></p>

<p><span style="font-size:16px"><span style="font-family:Times"><span style="font-family:&quot;Times New Roman&quot;">The association submitted such a request after the government&rsquo;s decision to extend the prohibitory period and enforce it strictly.</span></span></span></p>

<p><span style="font-size:16px"><span style="font-family:Times"><span style="font-family:&quot;Times New Roman&quot;">Officials at the Foreign Exchange Department of Nepal Rastra Bank stated that they have verbally requested the Chief District Officers to provide at least one or two passes per company since the central bank does not intend to halt remittance service.</span></span></span></p>

<p><span style="font-size:16px"><span style="font-family:Times"><span style="font-family:&quot;Times New Roman&quot;">According to Guru Prasad Poudel, the director of the department, the District Administration Offices have been requested to facilitate transportation to remittance companies for giving continuity to their services.</span></span></span></p>

<p><span style="font-size:16px"><span style="font-family:Times"><span style="font-family:&quot;Times New Roman&quot;">Due to high infection of Covid-19, Nepal Rastra Bank had directed remittance companies to carry out their operation with a handful of employees. On May 2</span>, the companies were directed to work with maximum safety and vigilance. The Foreign Exchange Department of the central bank directed remittance companies to work with participation of limited number of employees.</span></span></p>

<p><span style="font-size:16px"><span style="font-family:Times"><span style="font-family:&quot;Times New Roman&quot;">Till date, 51 remittance companies have received permission from Nepal Rastra Bank to continue their operation. Similarly, 10 payment system operators and 28 payment service providers are given permission to operate.</span></span></span></p>

<p>&nbsp;</p>
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		'Article' => array(
			'id' => '13457',
			'article_category_id' => '1',
			'title' => 'Former Finance Ministers Suggest Government not to Introduce Full Budget ',
			'sub_title' => '',
			'summary' => 'May 28: Former finance ministers have suggested the government not to introduce full budget through ordinance as there is no majority government at present.',
			'content' => '<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Times New Roman&quot;">May 28: Former finance ministers have suggested the government not to introduce full budget through ordinance as there is no majority government at present.</span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Times New Roman&quot;">They were of the view that a caretaker government should not announce full-fledged budget while the issue of restoration of parliament is sub judice in the Supreme Court.</span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Times New Roman&quot;">They made such appeal during a meeting of the former finance ministers&rsquo; forum. The ex-ministers also discussed about the budget for the upcoming&nbsp;Fiscal Year (FY 2078/79) and the impact of covid-19 on the economy.</span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Times New Roman&quot;">Issuing a statement after the meeting, former finance ministers Prakash Chandra Lohani, Ram Sharan Mahat, Krishna Bahadur Mahara, Surenda Paney and Barshaman Pun said, &ldquo;According to the international practice, it is not appropriate to bring a full budget in such a situation. If a budget needs to be brought through ordinance in such times, it is suggested to bring a provisional budget with regular expenditure only.&rdquo;</span></span></span></span></p>

<p>&nbsp;</p>
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			'title' => 'Stakeholders' Reaction to Budget',
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			'summary' => 'May 30: The budget unveiled by the government on May 29 has drawn mixed reaction from various stakeholders.',
			'content' => '<p><span style="font-size:16px"><span style="font-family:Cambria"><span style="font-family:Times">May 30: The budget unveiled by the government on May 29 has drawn mixed reaction from various stakeholders. While some have hailed the government for introducing investment friendly budget and prioritizing vaccination drive against Covid-19, others have criticized the government for introducing a full-fledged budget through ordinance at a time when the parliament is dissolved.</span></span></span></p>

<p><span style="font-size:16px"><span style="font-family:Cambria"><strong><span style="font-family:Times">Burden of loans on future generation</span></strong></span></span></p>

<p><span style="font-size:16px"><span style="font-family:Cambria"><span style="font-family:Times">Dr Ramsharan Mahat, </span></span></span></p>

<p><span style="font-size:16px"><span style="font-family:Cambria"><span style="font-family:Times">Former Finance Minister</span></span></span></p>

<p><span style="font-size:16px"><span style="font-family:Cambria"><span style="font-family:Times">Overall the government has brought budget going beyond its jurisdiction. The caretaker government is not allowed to introduce a full budget program. The budget should also be a temporary one. But the government has introduced budget going against the spirit of constitution. Apart from that, the budget is populist in nature. It is very challenging to implement provisions introduced in the budget.</span></span></span></p>

<p><span style="font-size:16px"><span style="font-family:Cambria"><span style="font-family:Times">On top of that, the size of the budget at this time of crisis is too large. One third of the budget financing will be arranged through foreign loans. This will add burden of loans on future generation. I don&#39;t have objection on government&#39;s priority sector but overall the budget is not satisfactory.</span></span></span></p>

<p><span style="font-size:16px"><span style="font-family:Cambria"><strong><span style="font-family:Times">Budget has been introduced to cater to the present needs</span></strong></span></span></p>

<p><span style="font-size:16px"><span style="font-family:Cambria"><span style="font-family:Times">Dilliraj Khanal</span></span></span></p>

<p><span style="font-size:16px"><span style="font-family:Cambria"><span style="font-family:Times">Former member of the National Planning commission </span></span></span></p>

<p><span style="font-size:16px"><span style="font-family:Cambria"><span style="font-family:Times">The budget has been introduced proritizing the present COVID-19 crisis which is very commendable. Along with that, relief packages, tax waiver, increment on social security allowance has been introduced. The program of social security has been highly prioritized.</span></span></span></p>

<p><span style="font-size:16px"><span style="font-family:Cambria"><span style="font-family:Times">The budget has followed the same discourse as that of the world and has been criticised as a populist one. The aim of inoculating the people with COVID-19 vaccine is not a populist step but the need of the hour. However, it remains to be seen if the programme can be made effective and accountable.</span></span></span></p>

<p><span style="font-size:16px"><span style="font-family:Cambria"><strong><span style="font-family:Helvetica">Budget for upcoming fiscal year is way better than we had expected it to be</span></strong></span></span></p>

<p><span style="font-size:16px"><span style="font-family:Cambria"><span style="font-family:Helvetica">Shekhar Golchha, </span></span></span></p>

<p><span style="font-size:16px"><span style="font-family:Cambria"><span style="font-family:Helvetica">FNCCI president </span></span></span></p>

<p><span style="font-size:16px"><span style="font-family:Cambria"><span style="font-family:Helvetica">We are yet to do a detailed study of the budget presented for the upcoming fiscal year. I think the budget is friendly towards private sector as well as investment-friendly.</span></span></span></p>

<p><span style="font-size:16px"><span style="font-family:Cambria"><span style="font-family:Helvetica">Demands that we were raising for long have now been finally addressed. The budget program is way better than we had expected it to be. Tax rates applied on various businesses have gone down. The government has provided VAT rebate on diesel and increased the facilities introduced through monetary policy in the last fiscal year.</span></span></span></p>

<p><span style="font-size:16px"><span style="font-family:Cambria"><span style="font-family:Helvetica">The new issue of billing charges is the most encouraging one. If this is implemented, any power producer can directly sell it to the industry. This will bring a huge change in the industrial sector. All in all,the &nbsp;budget is private sector and investment-friendly.</span></span></span></p>

<p><span style="font-size:12pt"><span style="font-family:Cambria"><strong><span style="font-family:&quot;Times New Roman&quot;">Budget implementation is difficult</span></strong></span></span></p>

<p><span style="font-size:12pt"><span style="font-family:Cambria"><span style="font-family:&quot;Times New Roman&quot;">Rajendra Malla</span></span></span></p>

<p><span style="font-size:12pt"><span style="font-family:Cambria"><span style="font-family:&quot;Times New Roman&quot;">President, Nepal Chamber of Commerce</span></span></span></p>

<p><span style="font-size:12pt"><span style="font-family:Cambria"><span style="font-family:&quot;Times New Roman&quot;">While the budget of Rs 1,647.57 billion has been announced, the goal is to collect Rs 1024 billion from internal revenue. The goal seems to be very difficult to achieve. It could have been done under normal circumstances, but we are in a chaotic situation due to this pandemic. The goal is challenging in itself. Industries and businesses are in a state of collapse at present. Thus, the implementation of the budget is difficult. Nevertheless, suggestions from the private sector are included in the budget. DPR study of metro rail, temple construction and other issues are also included in the budget this year. It would not have made any difference even if it was included after one or two years. Attention should have been paid to the current priorities. Despite this, the overall budget is still positive. However, due to the current pandemic and political crisis, the implementation process is complicated and we are concerned about this.</span></span></span></p>

<p><span style="font-size:12pt"><span style="font-family:Cambria"><strong><span style="font-family:&quot;Times New Roman&quot;">Implementation should be done in collaboration with private sector</span></strong></span></span></p>

<p><span style="font-size:12pt"><span style="font-family:Cambria"><span style="font-family:&quot;Times New Roman&quot;">Satish Kumar Moore</span></span></span></p>

<p><span style="font-size:12pt"><span style="font-family:Cambria"><span style="font-family:&quot;Times New Roman&quot;">President, Confederation of Nepalese Industries</span></span></span></p>

<p><span style="font-size:12pt"><span style="font-family:Cambria"><span style="font-family:&quot;Times New Roman&quot;">Although some people were saying that the full budget should not be brought in such a situation, we were demanding that a full budget should be brought for policy making. Now, the full budget has been introduced where suggestions from the private sector have been addressed. The issue of billing charges has been raised. The budget is brought in a way that promotes infrastructure development, vaccine management and startup industry. We have found that the budget supports our important campaign of Make in Nepal. But its implementation is very challenging. So, we will also take initiative to create an environment of implementation in collaboration with the private sector.</span></span></span></p>

<p><span style="font-size:12pt"><span style="font-family:Cambria"><strong><span style="font-family:&quot;Times New Roman&quot;">Best budget in history</span></strong></span></span></p>

<p><span style="font-size:12pt"><span style="font-family:Cambria"><span style="font-family:&quot;Times New Roman&quot;">Krishna Dulal</span></span></span></p>

<p><span style="font-size:12pt"><span style="font-family:Cambria"><span style="font-family:&quot;Times New Roman&quot;">President, NADA </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 budget of the Fiscal Year 2078/79 has announced full exemption of excise duty on the import of electric vehicles. Similarly, renewal fee will be waived for five years if petroleum-powered vehicles are converted into electric vehicles, diesel-powered light vehicles will be replaced with electric vehicles by 2088, electric vehicles will be operated and assembled and production will be initiated, customs exemption will be given. It has been announced to give 90 percent income tax exemption to traders having transactions of up to Rs 2 million and 50 percent income tax exemption to traders having transactions of up to Rs 10 million. Similarly, that tax payment certificates will be automatically provided after submitting tax details, while the government has announced to build 500 charging stations, provide income tax exemption and loan to startup business for 5 years. So, overall the budget is encouraging. We consider it the best budget in history.&nbsp;</span></span></span></p>

<p><span style="font-size:12pt"><span style="font-family:Cambria"><strong><span style="font-family:&quot;Times New Roman&quot;">The goal of achieving a economic growth of up to 6.5 percent is challenging</span></strong></span></span></p>

<p><span style="font-size:12pt"><span style="font-family:Cambria"><span style="font-family:&quot;Times New Roman&quot;">Bhuvan Kumar Dahal</span></span></span></p>

<p><span style="font-size:12pt"><span style="font-family:Cambria"><span style="font-family:&quot;Times New Roman&quot;">President, Nepal Bankers Association</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 budget for the upcoming fiscal year is encouraging. But implementation is needed. It is necessary to submit the progress report by implementing the programmes addressed by the budget. At the moment, the goal of economic growth of up to 6.5 percent without controlling the pandemic is challenging. This is possible only after the Covid-19 pandemic is controlled, otherwise, it seems difficult. The goal can be achieved by bringing vaccines.</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 programmes related to banks and financial institutions introduced in the budget are commendable. Digital banking is encouraged for the banking business. It was necessary. The budget for infrastructure is well allocated. But looking at the past, there is a lack of coordination in development expenditure because such spending seems to be slow. It is important to implement the budget and address it in time.</span></span></span></p>

<p><span style="font-size:12pt"><span style="font-family:Cambria"><strong><span style="font-family:&quot;Times New Roman&quot;">The issue of the extension was not enough</span></strong></span></span></p>

<p><span style="font-size:12pt"><span style="font-family:Cambria"><span style="font-family:&quot;Times New Roman&quot;">Ravi Singh</span></span></span></p>

<p><span style="font-size:12pt"><span style="font-family:Cambria"><span style="font-family:&quot;Times New Roman&quot;">Chairman,</span> <span style="font-family:&quot;Times New Roman&quot;">Federation of Contractors Association of Nepal </span></span></span></p>

<p><span style="font-size:12pt"><span style="font-family:Cambria"><span style="font-family:&quot;Times New Roman&quot;">We have taken the budget positively. However, the provision regarding extension of projects is not sufficient. The tax rebates so far are also good. The amount allocated for hospitals is not enough. However,&nbsp;the projects should be planned to be fully paid within the project period while allocating the budget, but this preparation is still not seen. The budget seems to be focused on the election. Since it was brought to please everyone, there is no reliable basis on its implementation part.</span></span></span></p>

<p><span style="font-size:12pt"><span style="font-family:Cambria"><strong><span style="font-family:&quot;Times New Roman&quot;">Addresses the demands of tourism entrepreneurs</span></strong></span></span></p>

<p><span style="font-size:12pt"><span style="font-family:Cambria"><span style="font-family:&quot;Times New Roman&quot;">Binayak Shah&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;">Vice President</span><span style="font-size:10.0pt"><span style="font-family:Times">, </span></span><span style="font-family:&quot;Times New Roman&quot;">Hotel Association of Nepal</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 budget has announced a separate relief for tourism and is positive. We had anticipated emergency plans in tourism. It has come sporadically. However, many things have been addressed as demanded by the entrepreneurs. Decisions such as not charging one month&rsquo;s visa fee to foreigners and giving 10 days of tourism leave to promote domestic tourism are positive aspects. It is better to consider the hotel and tourism industry as a productive sector. Even though the budget is good, it remains to be seen how it will be implemented. It is also important to have supervision over whether it has been implemented or not.</span></span></span></p>

<p><span style="font-size:12pt"><span style="font-family:Cambria"><strong><span style="font-family:&quot;Times New Roman&quot;">There is no reason to be excited</span></strong></span></span></p>

<p><span style="font-size:12pt"><span style="font-family:Cambria"><span style="font-family:&quot;Times New Roman&quot;">Ganesh Prasad Lath</span></span></span></p>

<p><span style="font-size:12pt"><span style="font-family:Cambria"><span style="font-family:&quot;Times New Roman&quot;">Representative, FNCCI</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 budget has tried to satisfy everyone. Still, there are no grounds to be excited over it. It sounds good to hear about vaccinations and ICU as well as ventilators in hospitals. The topic of health infrastructures was included in the budget of the current fiscal year as well. Oxygen plants in hospitals of hundred beds are something related to regulation, the government has no role in investment in this issue. There aren&rsquo;t any special points in the budget that one can get excited about.</span></span></span></p>

<p><span style="font-size:12pt"><span style="font-family:Cambria"><strong><span style="font-family:&quot;Times New Roman&quot;">There are doubts in budget implementation</span></strong></span></span></p>

<p><span style="font-size:12pt"><span style="font-family:Cambria"><span style="font-family:&quot;Times New Roman&quot;">Rajendra Raut</span></span></span></p>

<p><span style="font-size:12pt"><span style="font-family:Cambria"><span style="font-family:&quot;Times New Roman&quot;">Central Member, FNCCI</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 size of the budget this year is larger in comparison to that of last year. The aim of revenue collection this year is greater as well. The success or failure of the budget would be decided by the implementation part. In the present crisis of pandemic, the allocation of 1 trillion budget for Covid-19 prevention is quite welcoming. Only 60 percent of the budget for infrastructure development was spent last year. Government has allocated budget in the projects that do not make complete use of the allocated budget. The implementation of this budget is doubtful.&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;">The budget allocated to reduce trade deficit, to reduce consumption of petroleum products, to encourage production of electric vehicles are praiseworthy. It is a good thing to introduce the programme to give tax discounts on electrical equipment in order to increase the consumption of produced electricity. But it would have been better if there was a provision to grant tax discounts on manufactured electric vehicles. The budget is lacking in some manner in order to make the agriculture sector self-reliant.</span></span></span></p>

<p><span style="font-size:12pt"><span style="font-family:Cambria"><strong><span style="font-family:&quot;Times New Roman&quot;">The budget is worth welcoming</span></strong></span></span></p>

<p><span style="font-size:12pt"><span style="font-family:Cambria"><span style="font-family:&quot;Times New Roman&quot;">Bhim Ghimire</span></span></span></p>

<p><span style="font-size:12pt"><span style="font-family:Cambria"><span style="font-family:&quot;Times New Roman&quot;">Province 1 President, Confederation of Nepalese Industries</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 approach to allocate budget prioritizing the health sector is a positive indication. The budget has tried to be inclusive of young entrepreneurs and it is a very good thing. I am very pleased as our demand of making the 650 bighas of land in Amduwa of Sunsari into an economic zone has been addressed which we have been demanding time and again. Similarly, we have also been demanding a state-level industrial exhibition for Province 1. </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&#39;s plan to shift industries of Kathmandu to Hetauda and the services provided for that matter are pretty exciting. To discourage import, antidumping would be implemented. The project by the government to encourage export of cement, slippers and shoes are praiseworthy.</span></span></span></p>

<p>&nbsp;</p>

<p>&nbsp;</p>
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			'title' => 'Finance Minister Introduces Budget of Rs 1,647.57 billion Through Ordinance ',
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			'summary' => 'Minister for Finance Bishnu Prasad Paudel has introduced the budget for the upcoming fiscal year (2021/22) with a plan to spend a total of Rs 1,647.57 billion. ',
			'content' => '<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt">May 29: Minister for Finance Bishnu Prasad Paudel has introduced the budget for the upcoming fiscal year (FY 2021/22) with a plan to spend a total of Rs 1,647.57 billion.&nbsp;<br />
Out of the total budget, Rs 678.61 billion has been allocated for recurrent expenditures, Rs 374.26 billion for capital expenditure, Rs 386.71 billion for fiscal transfer and Rs 207.97 billion for financing.&nbsp;<img alt="" src="/app/webroot/userfiles/images/7e8d4e61-13b4-4390-8130-31876b20a030%20-%20Copy%281%29.jpg" style="float:right; height:358px; width:500px" /><br />
To pay for its spending, the government has announced that it will collect Rs 1,024.9 billion in revenues and Rs 63.37 billion in foreign grants. For the deficit financing, Finance Minister Poudel said that the government will mobilize Rs 309.29 billion in foreign loans and Rs 250 billion in domestic borrowing. &nbsp;</span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt">The total spending amount is nearly 11.72 percent higher than the government&rsquo;s budget of Rs 1,474.64 billion for the current fiscal year (FY 2020/21).&nbsp;<br />
The spending includes a significant portion of allocation on healthcare, vaccination and other measures to combat Covid-19. Similarly, Finance Minister Paudel also announced a significant raise on social security allowances. </span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt">The budget was issued on May 29 through ordinance as the House of Representatives is currently dissolved.</span></span></span></p>
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			'title' => 'Government to Launch MDMS Software to Discourage Illegal Import of Smartphones',
			'sub_title' => '',
			'summary' => 'May 29: The government is set to launch the Mobile Device Management System. ',
			'content' => '<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:12.0pt"><span style="font-family:Arial">May 29: The government is set to launch the Mobile Device Management System (MDMS), &nbsp;a </span></span><span style="font-size:12.0pt"><span style="font-family:Arial">software</span></span><span style="font-size:12.0pt"><span style="font-family:Arial"> that allows IT administrators to control, secure and enforce policies on smartphones, tablets and other endpoints, from the upcoming fiscal year (July 16) </span></span><span style="font-size:12.0pt"><span style="font-family:Arial">&nbsp;in a bid to control the illegal import of mobile phones. </span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:12.0pt"><span style="font-family:Arial">Finance Minister Bishunu Poudel made this announcement while unveiling the budget for the upcoming fiscal year (FY 2021/22) on Saturday, May 29.</span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:12.0pt"><span style="font-family:Arial">MDMS&nbsp;will track mobile phones based on the IMEI number of those devices. The government is set to introduce the system to control the grey market of mobile phones and bring all the mobile phones under legal registration.&nbsp;</span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:12.0pt"><span style="font-family:Arial">According to Nepal Telecommunications Authority (NTA), it has allocated its own funds for the cost of designing, developing and operation the MDMS software.&nbsp;</span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:12.0pt"><span style="font-family:Arial">The government has also announced plans to extend broadband Internet service to all local units by utilizing &nbsp;the Rural Telecommunication Development Fund (RTDF). It has also announced to extend 4G service to all local units and provide free broadband service to all community schools in the next two years.&nbsp;</span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:12.0pt"><span style="font-family:Arial">While presenting the budget, Minister Poudel also made the announcement to complete the construction of the Information Superhighway within two years. Optical fiber projects that are being built in seven provinces form the backbone of the information highway. The state-owned telecom service provider, Nepal Telecom, is laying optical fiber in provinces 1, 2, Bagmati Province, Karnali Province and Sudurpaschim Province. In provinces 4 and 5, United Telecom Limited had received the contract but couldn&#39;t make any headway in the project. The case is now pending in the court as NTA refused to extend the deadline of the project for UTL.&nbsp;</span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:12.0pt"><span style="font-family:Arial">Finance Minister Poudel also announced to launch NTV World to broadcast the contents of the state-owned television channel all over the world.</span></span></span></span></p>

<p>&nbsp;</p>
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			'id' => '13468',
			'article_category_id' => '1',
			'title' => 'Government Allocates Rs 26.75 Billion to Purchase anti-COVID-19 Vaccines ',
			'sub_title' => '',
			'summary' => 'May 29: The government has allocated Rs 26.75 billion in the budget of Fiscal Year 2021/22 for controlling COVID-19 pandemic.    ',
			'content' => '<p><span style="font-size:16px"><span style="font-family:Cambria"><span style="font-family:&quot;Arial Unicode MS&quot;">May 29: The government has allocated Rs 26.75 billion in the budget of Fiscal Year 2021/22 for controlling COVID-19 pandemic.&nbsp;&nbsp;&nbsp;&nbsp; </span><br />
<span style="font-family:&quot;Arial Unicode MS&quot;">While presenting the budget on Saturday (May 29), Finance Minister Bishnu Prasad Poudel said that Rs 26.75 billion has been allocated in the budget to purchase the anti-COVID-19 vaccines to be administered to all citizens free-of-cost.&nbsp;&nbsp;&nbsp;&nbsp; </span><br />
<span style="font-family:&quot;Arial Unicode MS&quot;">Minister Poudel added that Rs 37.57 billion was earmarked to curb the pandemic while Rs 5.60 billion has been allocated to purchase the medicines and equipment in view of controlling the pandemic.&nbsp;&nbsp;&nbsp;&nbsp; </span><br />
<span style="font-family:&quot;Arial Unicode MS&quot;">The Finance Minister further shared that the customs duty and taxes were reduced in importing the medical equipment and devices, the state-owned national news agency RSS reported. </span></span></span></p>

<p><span style="font-size:16px"><span style="font-family:Cambria"><span style="font-family:&quot;Arial Unicode MS&quot;">Meanwhile, Minister Poudel while presenting the budget said that the government has made arrangements for call centres, mobile service, telemedicine and psychological counseling to aide Covid-19 infected patients. </span><br />
&nbsp;</span></span></p>
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		'Article' => array(
			'id' => '13467',
			'article_category_id' => '1',
			'title' => 'Social Security Allowance for Senior Citizens Increased to Rs 4,000 Per Month',
			'sub_title' => '',
			'summary' => 'May 29: The government has increased the social security allowance for senior citizens by Rs 1,000 effective from Fiscal Year 2078/79. ',
			'content' => '<p><span style="font-size:12pt"><span style="font-family:Cambria"><span style="font-family:&quot;Times New Roman&quot;">May 29: The government has increased the social security allowance for senior citizens by Rs 1,000 effective from Fiscal Year 2078/79. With this, the social security allowance for senior citizens who are above 70 years of age has reached Rs 4,000 per month. In FY 2076/77, former finance minister Dr Yuba Raj Khatiwada had increased the senior citizen allowance to Rs 3,000. The increased allowance of senior citizens will come into effect from July 16, 2021.&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;">Presenting the budget for the upcoming fiscal year at Singha Durbar on Saturday, Finance Minister Bishnu Prasad Poudel announced that all types of social security allowances have been increased by 33 percent. He said that Rs 100 billion has been allocated for social security allowance. For the current fiscal year, Rs 67.50 billion was allocated for social security allowance.</span></span></span></p>

<p><span style="font-size:12pt"><span style="font-family:Cambria"><span style="font-family:&quot;Times New Roman&quot;">Senior citizen, Dalits, single women, disabled, terminally ill person, people from indigenous community, people living below poverty line, children will be provided social security allowance.</span></span></span></p>

<p><span style="font-size:12pt"><span style="font-family:Cambria"><span style="font-family:&quot;Times New Roman&quot;">Similarly, the government has announced free medical treatment for senior citizens.&nbsp;</span></span></span></p>

<p><br />
&nbsp;</p>
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		'Article' => array(
			'id' => '13466',
			'article_category_id' => '1',
			'title' => 'Government Lists Tourism Industry in Productive Sector ',
			'sub_title' => '',
			'summary' => 'May 29: The government has categorized the hotel industry and tourism business as productive sector.',
			'content' => '<p><span style="font-size:18px"><span style="font-family:Cambria"><span style="font-family:&quot;Times New Roman&quot;">May 29: The government has categorized the hotel industry and tourism business as productive sector.</span></span></span></p>

<p><span style="font-size:18px"><span style="font-family:Cambria"><span style="font-family:&quot;Times New Roman&quot;">Minister for Finance Bishnu Poudel made such announcement while presenting the budget for the upcoming fiscal year on Saturday, May 29.</span></span></span></p>

<p><span style="font-size:18px"><span style="font-family:Cambria"><span style="font-family:&quot;Times New Roman&quot;">The government has listed tourism sector as productive sector as per the demand of the tourism entrepreneurs and hoteliers of the country. Tourism entrepreneurs had been pressing the government to include tourism industry in the productive sector since a long time.&nbsp;</span></span></span></p>

<p><span style="font-size:18px"><span style="font-family:Cambria"><span style="font-family:&quot;Times New Roman&quot;">The government has announced relief packages to provide concessional loans, tax exemption, and discounts on various types of charges to tourism and aviation businesses.</span></span></span></p>

<p><span style="font-size:18px"><span style="font-family:Cambria"><span style="font-family:&quot;Times New Roman&quot;">Last year, the government while announcing special packages for the productive sector as Covid-19 relief in the previous budget had excluded tourism and hotel business from the list.&nbsp;</span></span></span></p>

<p><span style="font-size:18px"><span style="font-family:Cambria"><span style="font-family:&quot;Times New Roman&quot;">Meanwhile, the new budget has announced a 30 percent waiver on electricity tarriffs for sectors with consumption of electricity above 200 units, which includes hotel industry.&nbsp;</span></span></span></p>

<p><span style="font-size:18px"><span style="font-family:Cambria"><span style="font-family:&quot;Times New Roman&quot;">Likewise, the government has waived the electricity demand fee of the hotel industry in the upcoming annual budget. The government will also provide the pledged relief packages to hotels that were used as quarantine and isolation facilities.&nbsp;</span></span></span></p>

<p><span style="font-size:18px"><span style="font-family:Cambria"><span style="font-family:&quot;Times New Roman&quot;">The budget also provides a waiver on renewal fees for tourism-related industries. &nbsp; </span></span></span></p>

<p><span style="font-size:18px"><span style="font-family:Cambria"><span style="font-family:&quot;Times New Roman&quot;">The government has also decided to provide 50 percent waiver on rents and give continuity to the concessional loan of 5 percent to support the tourism industry along with other productive sectors against Covid-19.&nbsp;</span></span></span></p>

<p><span style="font-size:18px"><span style="font-family:Cambria"><span style="font-family:&quot;Times New Roman&quot;">Likewise, Minister Poudel also announced to provide 10 days&rsquo; salary to a government official for promoting domestic tourism. </span></span></span></p>

<p><span style="font-size:18px"><span style="font-family:Cambria"><span style="font-family:&quot;Times New Roman&quot;">&ldquo;We will also encourage the private sectors to provide similar packages to their employees,&rdquo; the Minister added.</span></span></span></p>

<p><span style="font-size:18px"><span style="font-family:Cambria"><span style="font-family:&quot;Times New Roman&quot;">The government has announced plans to develop and promote Nepal as an attractive and safe tourism destination.&nbsp;&nbsp;&nbsp;</span></span></span></p>

<p><span style="font-size:18px"><span style="font-family:Cambria"><span style="font-family:&quot;Times New Roman&quot;">The government has allocated Rs 590 million for the development of tourism-related infrastructure in Janakpurdham and other destinations.&nbsp;</span></span></span></p>

<p><span style="font-size:18px"><span style="font-family:Cambria"><span style="font-family:&quot;Times New Roman&quot;">The government has also allocated budget to continue infrastructure development in Muktinath and Kagbeni and to build new hiking trails in Khaptad, Rara, Lower Dolpo, Simikot. </span></span></span></p>

<p><span style="font-size:18px"><span style="font-family:Cambria"><span style="font-family:&quot;Times New Roman&quot;">In addition, the government &nbsp;has plans to develop a cycling lane along the Phewa Lake in Pokhara and various trekking trails across the country.&nbsp;</span></span></span></p>

<p><span style="font-size:18px"><span style="font-family:Cambria"><span style="font-family:&quot;Times New Roman&quot;">Likewise, the government has allocated budget for establishing an integrated GPS system for rescuing and tracking tourists.&nbsp;</span></span></span></p>

<p><span style="font-size:18px"><span style="font-family:Cambria"><span style="font-family:&quot;Times New Roman&quot;">The government has announced plans to introduce special packages to promote adventure, agro, gastro, and religious tourism activities. Similarly, the government has announced plans to conduct a physical study for a sports project aiming to promote sports tourism.&nbsp;&nbsp;</span></span></span></p>

<p><span style="font-size:18px"><span style="font-family:Cambria"><span style="font-family:&quot;Times New Roman&quot;">The government has allocated Rs 27.47 billion for the development of tourism infrastructure and promotional activities.&nbsp;&nbsp;</span></span></span></p>

<p>&nbsp;</p>
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			'title' => '68th Anniversary of Mt Everest’s First Ascent: A Glorious Past and a Bleak Future',
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			'summary' => 'It has become one of the most crucial tasks to save Mt Everest and the other mountains of Nepal from the adverse impacts of global warming.',
			'content' => '<p><span style="font-size:22px"><em>It has become one of the most crucial tasks to save Mt Everest and the other mountains of Nepal from the adverse impacts of global warming.</em></span></p>

<p><img alt="" src="/app/webroot/userfiles/images/1234%281%29.jpg" style="height:169px; width:200px" /></p>

<p>Last year some mountain climbers asked me to participate in the International Mt Everest (Sagarmatha) Day, a day celebrated since 2007 to commemorate the first ascent of Mt Everest by Edmund Hilary and Tenzing Norgay on 29 May, 1953.&nbsp; Upon receiving the invitation card, I was surprised to see my name as &lsquo;Mt. Everest&rsquo; (Sagarmatha) whereas my local Tibetan name is &lsquo;Chomolungma&rsquo; which means &lsquo;Goddess Mother of the World&rsquo;. I asked them to explain the meaning of Mt. Everest (Sagarmatha). They told me, &quot;You were named after British surveyor and geographer Sir George Everest in 1865.&quot; Then I asked them, &quot;Ok, then what is the meaning of Sagarmatha and who gave me this name?&quot; They said, &quot;Sagarmatha means the Peak of Heaven and the name was given to you by the Nepali historian Baburam Acharya in 1956.&quot;</p>

<p>On May 29, a special programme was organised in the presence of different mountain culture groups, mountaineers and local people. I was surprised to see representatives of mountains above 8,000 metres and the seven highest peaks of the world at the programme. I was looking for Nawang Gombu Sherpa- the first mountaineer to conquer me twice, a record which he set in 1965. At that time, I heard someone calling my name &lsquo;Everest, Everest&rsquo;, which was familiar to me. I turned around to see the person was Sir Edmund Hilary. I greeted him and said, &quot;Hello Edmund! How are you? Are you alone or with Tenzin?&rdquo; He replied, &quot;Yes, he is here and is busy meeting some of his native friends,&quot; and asked me if I met the Japanese mountaineer Junko Tabei, the first female to climb the world&rsquo;s highest peak on May 16, 1975.</p>

<p>Then, Edmund took me to Pema Sherpa who was found with Tabei and Pasang Lhamu Sherpa. I had a strong desire to meet Pema because of her achievement as the first Nepali woman to climb the peak from the south and north sides on 29 May 2000 and 16 May 2002, respectively. Pasang Lhamu Sherpa is the first Nepali woman to wave the national flag on the top of the peak on 23 April 1993. They were together with the oldest female climber from Japan Tamae Watanabe who was 73 years old when she climbed the peak on May 19, 2012.</p>

<p><img alt="" src="/app/webroot/userfiles/images/saa.jpg" style="height:510px; width:800px" /></p>

<p>There I met Churim Sherpa, the first woman to conquer me twice during a single season -- on 12 May and May 19 of 2012. I noticed one of the oldest climbers Yūichirō Miura from Japan who was 80 years 224 days old when he reached the Everest summit on May 23, 2013. He was the first mountaineer to ski down 2,000 metres of Mt Everest on May 6, 1970. Miura beat the record of oldest Nepali oldest climber Min Bahadur Sherchan, who was 76 years 11 month 6 days when he climbed the peak on May 5, 2008. There I met Babu Chiri Sherpa, who stayed at the summit for over 21 hours without auxilary oxygen on 21 May 2000, a record which is yet to be broken.</p>

<p>The programme did not start on time, so I just wandered around the crowd and spotted Reinhold Messner from Italy and Peter Habler from Austria. These two Europeans were the first to set the world record for climbing the summit without supplement oxygen on May 8, 1978. With them was Lydia Bradey from New Zealand, the first woman to conquer Mt Everest without oxygen on October 14, 1988. &nbsp;</p>

<p>I also met the Polish mountaineer Kyzysztof Wielicki who is the first to reach the summit during the peak winter season when the temperature reaches -36 degrees celsius. He climbed the peak on February 17, 1980.&nbsp; Then there were the two Slovenes - Andrej Stremfelj and his wife Marija Stremfelj, first married couple to summit Mt Everest on October 7, 1990.&nbsp; Talking with them were Moni Mulepati and Pem Dorjee Sherpa, the Nepali couple who got married on the summit on May 30, 2005.</p>

<p>A French father and his son were also there to participate in the event. After reaching the summit on October 7, 1990, Jean-No&euml;l Roche and his 17-year old son Roche Bertrand a.k.a. &ldquo;Zebulon&rdquo; flew back to base camp from the South Col, a sharp edge col between Mt Everest and Mt Lhotse, via a 2-seater tandem paraglider. With this, Zebulon also became the youngest non-Nepali to reach the top. In the meantime, I saw the Spanish brothers Alberto and Felix I&ntilde;urrategi who ascended on September 25, 1992. Nepali climber Temn Chirri Sherpa, who conquered the highest peak on May 23, 2001 when he was 16 years old, was there busy talking to the first youngest Nepali climber Shambhu Tamang who reached the summit on May 5, 1973 when he was 17 years old.</p>

<p>I was also surprised to meet the American Thomas Whittaker who climbed the peak on one foot on May 27, 1998 to become the first differently-abled mountaineer to summit Mt Everest. Davo Karničar, a Slovene climber, one who did the first ski descent from the world&rsquo;s highest mountain peak on October 7, 2000 also attended the event. He also holds the record for ski descents from all seven summits.</p>

<p>Meeting the mountaineers on this special occasion was a special moment for me.&nbsp; So, without wasting this opportunity, I move on to meet Ang Chirring Sherpa, the first Nepali journalist to climb the peak on May 22, 2003. He was talking to Kalpana Maharjan, the first female journalist to summit Mt Everest; she climbed from the south (Nepal) side on May 23, 2018 and the north side (China) on May 23, 2019. Then, I came across three brothers, Lakpa Gelu Sherpa, Da Nuru Sherpa and Jangbu Sherpa, who were on the top on May 26, 2003. Lhakpa Gelu also made the world record for the fastest climb of Mt Everest within 10 hours 56 min and 46 sec. Then I saw another mountaineer Lhakpa Tharke Sherpa who stayed at the summit without upper body clothes for 3 minutes braving the -39 degrees celsius on May 24, 2006.</p>

<p>Among the participants were seven children of the same parents, who climbed Mt Everest on different dates. The siblings are Ang Chhiri, Nim Temba, Pema Tharki, Nima Gombu, Mingma Tsiri, Thundu and Pasang Tenzing Sherpa. Similarly, Sungdare Sherpa, who is considered as one of the strongest climbers and is the first mountaineer to summit the world&rsquo;s highest peak for five times, was among the attendees.</p>

<p>I was happy to meet other legendary mountaineers like the &lsquo;Snow Leopard&rsquo; Ang Rita Sherpa, the record holder of most summits without supplement oxygen; Apa Sherpa, a 21 times climber; Kami Rita Sherpa, a 25 times climber, Lhakpa Sherpa, a 9 times climber and Dave Hahn, a 15 times climber. The Indian climber Kushang Dorje Sherpa, the first person to reach the summit through the Southeast Ridge route on May 10, 1993 and May 28, 1998, Northeast Ridge route on May 17, 1996 and East Face on May 28, 1998, was there to celebrate the event organised to mark the first ascent of Mt Everest. &nbsp;</p>

<p>The new record holders Nirmal Purja and Mingma Gyabu were seen together in the event. They are the bravest mountaineers of modern mountaineering as the former British Gurkha soldier Purja has set the record for climbing all 14 highest mountains of the world within the shortest period of 6 months and 6 days. Likewise, at 31, Mingma became the youngest mountaineer to climb all 14 peaks.</p>

<p><img alt="" src="/app/webroot/userfiles/images/Clipboard01%2854%29.jpg" style="height:567px; width:800px" /></p>

<p>All members of the First Inclusive Women&#39;s Sagarmatha Expedition 2008 (FIWSE08), 9 Nepali civil service personnel of the Nepal Civil Servant First Mountain Everest Expedition, 2011 and team members of the Sagarmatha Height Measurement Expedition 2019 were also present at the event.</p>

<p>I was invited on stage for my remarks. I was a bit nervous but gathered my courage to speak up in front of the audience.</p>

<p>&quot;It is a great pleasure and honour to be here. I feel very delighted to have met 6,030 men and 471 women mountaineers so far. Mountaineering is full of risks. But mountains are blamed for the unfortunate accidents that have happened. The first accident on Mt Everest occurred in 1922 when seven porters and George Mallory of the British Mt. Everest Expedition lost their lives. Till date, more than 300 mountaineers have died trying to conquer me. Many record holder Nepali mountaineers are in different professions in developed nations, whereas foreign mountaineers are living like celebrities in their countries. Foreign climbers are well educated and earn money by selling their autobiographies, charging fees to attend talk shows and other programmes, and by engaging in other activities. But Nepali mountaineers don&rsquo;t have such avenues of income.</p>

<p>There is less attraction among Nepali youngsters to get into the mountaineering profession because of high risks, income uncertainty and other hardships. Now the time has come to think on this issue, otherwise there will be a scarcity of human resources in mountaineering by the next 2-3 decades.</p>

<p>While mountains in certain parts of the country have gained enormous national and international highlights over these years, the mountains of Nepal&rsquo;s far-western region have faced neglect. There are so many amazing mountains in this region, but the mountaineering activities are centered only on few regions. As a result of the increased tourism activities and its effect on the local economy, the living standard of people in the Khumbu region is much better than people of other mountainous regions. Expansion of tourism activities in other regions is important to uplift the lives local people. Hence, there is a need to start working on equitable development of Nepal&rsquo;s mountain tourism.</p>

<p>Over these years, many mountaineering expeditions have been conducted to raise international awareness about global warming and its effect on mountains. The situation has become alarming as there is a formation of ponds on the surface of the Khumbu Glacier due to ice melt; such water bodies did not exist a couple of decades ago. In the last 10 years, the separately formed ponds have started to join to form larger water bodies. For example, Imja Tsho or the Imja Lake, which did not exist till 1960, now has an estimated 2.6 billion litres of water. Lives of people and their houses, farm animals and monasteries are in great danger as the glacial lake can burst any time. The outburst of the glacial lake Dig Tsho in 1985 damaged several villages and claimed the lives of three people.</p>

<p>Although Nepal&rsquo;s share in climate change is negligible compared to developed and emerging economies, the country is among the 10 most affected countries due to global warming. Every year the rate of mountain snow melt is increasing, and if this continues, one day the peaks will remain only like gigantic black rocks without snow. The accelerating snow melt will increase the possibility of devastating floods and rise in sea levels affecting millions of people and animals, and adversely impact vegetation in different parts of the world. Before all this happens, people need to come together to mitigate the impact of climate change. As a mountain, I want my snow back and want it to melt naturally. Here I stand in front of you asking you to save the mountains for the earth&rsquo;s future.&quot;<br />
The hall could have heard a pin drop.</p>

<p><strong><em>(Sindurakar is former Chief Administrative Officer of Nepal Mountaineering Association.)</em></strong></p>
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			'title' => 'Three Ordinances Related to Budget Issued ',
			'sub_title' => '',
			'summary' => 'May 29: President Bidya Devi Bhandari has issued three ordinances related to budget for the upcoming fiscal year.   ',
			'content' => '<p><span style="font-size:16px"><span style="font-family:Cambria"><span style="font-family:&quot;Arial Unicode MS&quot;">May 29:<em> </em>President Bidya Devi Bhandari has issued three ordinances related to budget for the upcoming fiscal year.&nbsp;&nbsp;&nbsp;&nbsp; </span><br />
<span style="font-family:&quot;Arial Unicode MS&quot;">According to the Office of the President, the &lsquo;Economic Ordinance, 2078&rsquo;, &lsquo;Appropriation Ordinance, 2078&rsquo; and &lsquo;Ordinance to Raise National Debt, 2078&rsquo; were issued on May 29.&nbsp;&nbsp;&nbsp;&nbsp; </span><br />
<span style="font-family:&quot;Arial Unicode MS&quot;">A meeting of the Council of Ministers had recommended the President to issue the ordinances. </span></span></span></p>

<p><span style="font-size:16px"><span style="font-family:Cambria"><span style="font-family:&quot;Arial Unicode MS&quot;">Minister for Finance Bishnu Prasad Poudel presented the budget for the fiscal year 2078/79 BS today (May 29). --RSS</span></span></span></p>
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			'title' => 'Achieving Economic Growth Target is Challenging: Finance Minister',
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			'summary' => 'May 29: Finance Minister Bishnu Prasad Poudel has said it would be difficult to achieve the economic growth target determined for the current fiscal year due to the COVID-19 pandemic.   ',
			'content' => '<p><span style="font-size:16px"><span style="font-family:Cambria"><span style="font-family:&quot;Arial Unicode MS&quot;">May 29: Finance Minister Bishnu Prasad Poudel has said it would be difficult to achieve the economic growth target determined for the current fiscal year due to the COVID-19 pandemic.&nbsp;&nbsp;&nbsp;&nbsp; </span><br />
<span style="font-family:&quot;Arial Unicode MS&quot;">The Finance Minister made such remark while launching the Economic Survey at the Ministry of Finance on Friday afternoon (May 28), according to the state-owned national news agency RSS. On the occasion, he shared that it was a challenge even to achieve revised economic growth target in the current fiscal year.&nbsp;&nbsp;&nbsp;&nbsp; </span><br />
<span style="font-family:&quot;Arial Unicode MS&quot;">The government had set the target of achieving 7 per cent economic growth while launching the budget for the current fiscal year. It had later lowered that figure and estimated economic growth to be 4.01 per cent in view of the coronavirus pandemic.&nbsp;&nbsp;&nbsp;&nbsp; </span><br />
<span style="font-family:&quot;Arial Unicode MS&quot;">According to the Finance Minister, a situation has arisen in which the revised projected target of 4.01 per cent also could not be achieved as prohibitory order has been issued in many places of the country to contain the spread of the second wave of COVID-19.&nbsp;&nbsp;&nbsp;&nbsp; </span><br />
<span style="font-family:&quot;Arial Unicode MS&quot;">He, however, added that most of the macroeconomic indicators were positive even in the adverse situation of the pandemic.&nbsp;&nbsp;&nbsp;&nbsp; </span><br />
<span style="font-family:&quot;Arial Unicode MS&quot;">Finance Minister Poudel said that domestic investment has expanded, the scope of financial access, capital market and insurance has broadened, the overall balance of payment situation was in reserve and the remittance inflow and foreign exchange reserve have increased. .</span></span></span></p>

<p><span style="font-size:16px"><span style="font-family:Cambria"><span style="font-family:&quot;Arial Unicode MS&quot;">Meanwhile, it has been learnt that the government is making preparations to announce the budget for the upcoming fiscal year through an ordinance at 4 PM today afternoon (May 29).</span></span></span></p>
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		'Article' => array(
			'id' => '13462',
			'article_category_id' => '1',
			'title' => 'Public Enterprises’ Net Profit, Revenue Decline as Covid-19 Hits their Businesses ',
			'sub_title' => 'However, govt collects Rs 14.9 billion in cash dividend from five profit-making public enterprises, a jump by 48.87 percent from previous fiscal year’s return ',
			'summary' => 'Total net profit of government-owned public enterprises has fallen by 1.21 percent to Rs 48.29 billion in the last fiscal year (2019/20) from Rs 48.89 billion in the previous fiscal year. ',
			'content' => '<p>May 28:&nbsp; Total net profit of government-owned public enterprises has fallen by 1.21 percent to Rs 48.29 billion in the last fiscal year (2019/20) from Rs 48.89 billion in the previous fiscal year.&nbsp;<br />
According to the report of &lsquo;Annual Status Review of Public Enterprises 2021&rsquo; released by the Ministry of Finance on Friday, 24 out of 44 enterprises in existence earned a profit while 18 incurred losses. Other two public enterprises did not make any transaction, according to the report.&nbsp;<br />
Government officials blame the fall in the net profit of public enterprises to a decline in their businesses due to the Covid-19 and the pandemic induced containment measures.&nbsp;<br />
The impact of the Covid-19 is also reflected in their revenues, according to government officials. The review report, commonly known as Yellow Book, shows a 6.91 percent decline in total revenue of all public enterprises to Rs 460.39 billion in the last fiscal year. The combined revenue of public enterprises was Rs 494.59 billion in the previous fiscal year.&nbsp;<br />
With a net profit of Rs 12.91 billion in the last fiscal year, Nepal Oil Corporation stood at the top of the list of five highest profit earners. Other four public enterprises were Nepal Electricity Authority (Rs 11.04 billion), Nepal Doorsanchar Company Ltd (Rs 9.75 billion), Rastriya Banijya Bank Ltd ( Rs 4.38 billion) and Agricultural Development Bank Ltd (Rs 3.33 billion). &nbsp;&nbsp;<br />
The government received a total of Rs 14.9 billion in cash dividend from public enterprises, a jump by 48.87 percent of the return in the previous fiscal year.&nbsp;<br />
Only five public enterprises were able to pay cash dividends to the government. Nepal Doorsanchar Company Ltd was the highest dividend payer to the government with its contribution of 43.82 percent in the total cash dividend. Nepal Oil Corporation&rsquo;s contribution in the total dividend was 36.56 percent.&nbsp;<br />
However, the return on equity ratio stands at only 4.88 percent.&nbsp;<br />
The Yellow Book shows that the government&rsquo;s investment has gone up by 11.74 percent in public enterprises to Rs 519.55 billion. Share or equity investment accounts for 55.52 percent (Rs 288.65 billion) of the total investment. The remaining 44.48 percent (Rs 230.89 billion) of the investment the government has made in these public enterprises is in the form of loans.&nbsp;</p>

<p>As the government has been financing big capital projects including hydropowergeneration and transmission projects, airports and drinking water project through public enterprises, the investment is on the rise, according to the report.&nbsp;<br />
&nbsp;</p>
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		'Article' => array(
			'id' => '13461',
			'article_category_id' => '1',
			'title' => 'Govt Built 1,338 km of New Roads in Current Fiscal Year: Economic Survey Report',
			'sub_title' => 'After dissolution of the House of Representatives, Finance Minister Paudel releases Economic Survey report amid a virtual press meet',
			'summary' => 'The federal government has expanded 1,338 km of new roads that include 284 km of mud roads, 504 km of gravel roads and 550 km of black topped roads in the first eight months of the current fiscal year 2020/21.',
			'content' => '<p>May 28: The federal government has expanded 1,338 km of new roads that include 284 km of mud roads, 504 km of gravel roads and 550 km of black-topped roads in the first eight months of the current fiscal year (FY 2020/21).<br />
Releasing the report of the Economic Survey 2020/21 on Friday, the Ministry of Finance said that the total length of roads has reached 33,528 km as of mid-February including 15,974 km of black-topped roads, 8,582 km gravel roads and 8,972 km of mud roads.<br />
Releasing the survey report amid a virtual ceremony, Minister for Finance Bishnu Prasad Paudel claimed that the government achieved a significant progress in infrastructure development and transportation sector during the review period.<br />
While the government is required to present the Economic Survey at the Federal Parliament, Finance Minister Paudel released the survey report amid a virtual press conference as the House of Representatives was dissolved by President Bidya Devi Bhandari last Friday upon the recommendation of Prime Minister KP Sharma Oli.<br />
According to the survey report, the government built 129 new bridges in the review period compared to 210 bridges constructed in the last fiscal year (FY 2019/20).<br />
Likewise, the Economic Survey shows that access to insurance reached 23.4 percent of the total population by mid-March 2020 compared to 22 percent in the same period last year.<br />
Addressing the virtual press meet, Finance Minister Paudel said that the country&#39;s major economic indicators are positive despite a shrink in economic activities due to Covid-19.<br />
Though the Central Bureau of Statistics (CBS) had made a preliminary estimate of 4.01 percent of economic growth in the current fiscal year, economists say that the GDP growth is likely to remain way below the estimate of CBS which was based on an assumption that the prohibitory period imposed in many parts of the country to contain the second wave of coronavirus would not last more than two weeks. However, the prohibitory period in Kathmandu Valley, which started on April 29, has been extended till June 3.&nbsp;<br />
Finance Minister Paudel pointed to lower average inflation, increase in revenue collection and mobilization of international assistance, improvement in external sector position, stock market rally and progress in human and social development, among other indicators, to paint a rosy picture of the economy.<br />
&nbsp;<br />
&nbsp;</p>
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			'id' => '13460',
			'article_category_id' => '1',
			'title' => 'Nepal’s Development Partners Call for Quick Purchase of Vaccines',
			'sub_title' => '',
			'summary' => 'Nepal’s Covid-19 vaccination drive, which started with a bang, has sputtered to an uneasy close, stoking fears of a rapid rise in infection -- including in rural areas that were largely untouched by the first wave -- and heavy loss of lives.',
			'content' => '<p><span style="font-size:18px"><span style="font-family:Calibri">Rupak D Sharma</span></span></p>

<p><span style="font-size:18px"><span style="font-family:Calibri">Kathmandu, May 28</span></span></p>

<p><span style="font-size:18px"><span style="font-family:Calibri">Nepal&rsquo;s Covid-19 vaccination drive, which started with a bang, has sputtered to an uneasy close, stoking fears of a rapid rise in infection -- including in rural areas that were largely untouched by the first wave -- and heavy loss of lives.</span></span></p>

<p><span style="font-size:18px"><span style="font-family:Calibri">The commitments expressed by various countries as well as development partners, such as the Asian Development Bank (ABD) and the World Bank (WB), to support Nepal to restart its vaccination campaign are consoling. But the nature of coronavirus is such that it spreads rapidly. And delays of even a few days can wreak havoc. Just look at how rapidly the death toll has jumped. It stood at around 3,200 until a month ago and has since more than doubled to over 7,000.</span></span></p>

<p><span style="font-size:18px"><span style="font-family:Calibri">&ldquo;When it comes to vaccines, Nepal cannot and should not wait.... The World Bank and ADB commit to funding Nepal&rsquo;s eligible vaccines that have WHO listing. We will do this today if the contracts between the government and eligible providers are ready. We are ready and on standby,&rdquo; Faris Hadad-Zervos, World Bank Country Director, said in a written statement made available to the New Business Age.</span></span></p>

<p><span style="font-size:18px"><span style="font-family:Calibri">The WB has provided US$75 million and the ADB an additional US$165 million to the government for procurement of safe and effective vaccines. China recently said it is ready to offer 1 million additional doses. Other countries, including the US, the UK and those in the European Union, too have said they would support Nepal to rollout vaccines.</span></span></p>

<p><span style="font-size:18px"><img alt="" src="/app/webroot/userfiles/images/Daily%20new%20cases.jpg" style="height:378px; width:607px" /></span></p>

<p><span style="font-size:18px"><span style="font-family:Calibri">Nepal, which has a population of about 30 million, was among the first in Asia to receive Covid-19 vaccines. It has administered around 2.74 million doses so far, which include vaccines provided in the form of grants by India and China. Early vaccine rollout in Nepal was seen as a feat by many. Then, the drive went into a tailspin. This was not because the country lacked financial resources but because of the choices it made. </span></span></p>

<p><span style="font-size:18px"><span style="font-family:Calibri">Initially, the government was too focused on getting the vaccines for free. Later initiatives were taken to purchase them and one million doses were even bought from India. Then the health minister made statements saying some of the people, who were seeing the vaccination drive as a gravy train, were creating obstructions in the procurement process. This controversy dragged on for some period and by the time it subsided, India, one of the world&rsquo;s largest vaccine suppliers, was in the grips of the second wave of the pandemic. This left India with no choice but to stop exports of vaccines. </span></span></p>

<p><span style="font-size:18px"><span style="font-family:Calibri">The second wave of pandemic that hit India entered Nepal in no time. Soon hospitals started coming under intense pressure and the demand for oxygen and other critical medical equipment such as ventilators surged. The EU and its member states, the US, the United Nations, Switzerland, and the UK, for example, have supplied oxygen equipment, ventilators, personal protective equipment (PPE) and other medical equipment. </span></span></p>

<p><span style="font-size:18px"><span style="font-family:Calibri">&ldquo;We are also quickly mobilising emergency support with an initial 2 million euros towards the UN&rsquo;s COVID appeal. We stand ready to provide further assistance,&rdquo; said Janez Lenarčič, European Commissioner for Crisis Management in a statement provided to the New Business Age, thanking Finland, Spain, France, Germany and Belgium &ldquo;for their quick and generous offers of assistance via the Civil Protection Mechanism&rdquo;.</span></span></p>

<p><span style="font-size:18px"><span style="font-family:Calibri">The development partners have also formed the Health Working Group to respond to Nepal&rsquo;s needs in a coordinated manner through a single window. This is expected to maximize the efficiency in meeting Nepal&rsquo;s Covid-related needs and streamline support. Several development partners have also immediately deployed their technical expertise to inform a fast-tracked response.</span></span></p>

<p><span style="font-size:18px"><span style="font-family:Calibri">&ldquo;The UK has had a technical team working in the Ministry of Health and Population for some years. The team has proved to be invaluable in being able to support the government in shaping the response to COVID-19. They have advised on the Rapid Response Plan, the specifications for equipment, design of treatment facilities, epidemiology, analysis, data and much more,&rdquo; said Lisa Honan, British Embassy&rsquo;s Development Director in a statement provided to the New Business Age.</span></span></p>

<p><span style="font-size:18px"><img alt="" src="/app/webroot/userfiles/images/PCR%20Tests.jpg" style="height:380px; width:609px" /></span></p>

<p><span style="font-size:18px"><span style="font-family:Calibri">The government has formed a high-level body, called Covid-19 Crisis Management Centre (CCMC), to take the lead in managing and coordinating the fight against the pandemic. Although many have supported formation of such a body, its image has been tarnished to some extent because of allegations of corruption levelled against it. Many are expecting the body to operate more professionally and in a transparent manner as the government has recently appointed former Nepal Army Lieutenant General Balananda Sharma as its CEO. But it has been suggested that it rope in more technical and public health experts who can help the body make streamlined, scientific, evidence-based and practical decisions to minimise health, social and economic impacts of the pandemic.</span></span></p>

<p><span style="font-size:18px"><span style="font-family:Calibri">Nepal is facing a host of problems in dealing with the pandemic largely because it has failed to make adequate investment in public health infrastructure. Of course, the healthcare system of even the developed countries came under severe pressure during the pandemic. But, globally, lessons are being learnt and preparations are simultaneously being made to tackle such problems effectively and efficiently. In Nepal too calls are being made to strengthen public health infrastructure by engaging local governments. This should be supplemented by countrywide expansion of universal health insurance scheme, as many of the Covid-19 infected hesitated to visit hospitals because of the costs involved in the medical treatment. Germany, which provides one of the world&rsquo;s best universal health insurance schemes using private and quasi-private agencies, is already supporting Nepal on this front. The country needs an affordable universal health insurance plan to build human capital.</span></span></p>

<p><span style="font-size:18px"><span style="font-family:Calibri">&ldquo;Several years of common effort to build a universal health insurance, together with GIZ and other partners, provide excellent experience and the first building blocks for fulfilling this task,&rdquo; said Ambassador of Germany to Nepal Roland Sch&auml;fer in a statement provided to the New Business Age.</span></span></p>

<p><span style="font-size:18px"><span style="font-family:Calibri">Had mechanisms like universal health insurance and a good public health infrastructure been in place, Nepal perhaps would not have had to impose one of the severest lockdowns in the world to contain the spread of the disease. During the first wave of the pandemic, entire Nepal was shut down for almost four months from March 24, 2020. The restrictions in movement brought the economy to a standstill, as almost all of the enterprises remained closed, supply chains were disrupted and many employees were relieved of their duties or were asked to take sharp pay cuts. This is expected to have made 1.6 million jobless and pushed 1.2 million into the poverty trap.</span></span></p>

<p><span style="font-size:18px"><img alt="" src="/app/webroot/userfiles/images/Positive%20rate%281%29.jpg" style="height:381px; width:608px" /></span></p>

<p><span style="font-size:18px"><span style="font-family:Calibri">Nepal has not imposed a nationwide lockdown to tackle the second wave of pandemic, but almost all the districts have issued prohibitive orders since the end of April, severely restricting movements. Although an official study on the impact of the second round of lockdown has not been conducted, a survey done by the General Federation of Nepalese Trade Unions (GEFONT) in 60 districts showed that 3.65 million people have lost their jobs so far. Effect on livelihood of daily wage earners, persons with disabilities and people from disadvantaged groups with no access to formal social safety net is not immediately known. But impact is likely to be greater this time as infection rate has not gone down even after a month of lockdown and the virus has penetrated rural areas as well which largely remained safe during the first wave of pandemic.</span></span></p>

<p><span style="font-size:18px"><span style="font-family:Calibri">The only government mechanism that can provide a safety net at times like these is the Prime Minister Employment Programme (PMEP), but it has not been able to provide relief to the most vulnerable. Around 187 countries around the world are already providing emergency cash transfers, mainly by expanding existing programmes, according to the World Bank. But Nepal has not been able to make use of its social protection programme, although the PMEP guideline allows distribution of subsistence allowance equivalent to 50 percent of wages of unworked days to registered beneficiaries. </span></span></p>

<p><span style="font-size:18px"><span style="font-family:Calibri">Earlier, the government had introduced the Business Continuity Loan Scheme -- under which credit of up to Rs 100 million was pledged for a minimum of two years at five percent (first year) to six percent (second year) interest -- to save jobs as well as enterprises. But there were very few takers of this credit, as the scheme came with conditions that many businesses could not meet. Many are demanding that a similar scheme with fewer conditions be introduced to aid enterprises that are on the verge of bankruptcy. There are also calls for increasing the size of the refinance fund at the central bank -- and donors have expressed commitment to contribute to it -- to continue providing subsidised funding to priority sectors, particularly small and medium enterprises affected by the pandemic.</span></span></p>

<p><span style="font-size:18px"><span style="font-family:Calibri">&ldquo;Supporting the recovery of enterprises and investment growth is a crucial part of post-Covid recovery,&rdquo; said Swiss Ambassador to Nepal Elisabeth von Capeller in a statement provided to the New Business Age, adding, &ldquo;Switzerland, in partnership with the World Bank, is supporting the Government of Nepal to drive forward much needed reforms and help MSMEs [micro, small and medium enterprises] recover and rebound.&rdquo; </span></span></p>

<p><span style="font-size:18px"><span style="font-family:Calibri">Going forward, Nepal needs to prepare a coherent plan to revive the businesses and the economy, as growth contracted by two percent in the last fiscal year and the central bank has already ruled out the possibility of attaining four percent growth rate projected by the Central Bureau of Statistics for this year. </span></span></p>

<p><span style="font-size:18px"><span style="font-family:Calibri">But for now Nepalis want one thing: vaccine.</span></span></p>

<p><span style="font-size:18px">&ldquo;Vaccination program is the urgent need of the hour and the World Bank and ADB are working closely with the government and all partners in procuring and delivering COVID-19 vaccines safely and effectively. Vaccination not only saves lives and but also mitigates the negative economic impacts of the pandemic by restoring people&rsquo;s ability to work and travel safely,&rdquo; said Rudi Van Dael, Unit Head, Portfolio Management, of the Asian Development Bank Nepal Resident Mission, in a statement provided to the New Business Age.</span></p>

<p><span style="font-size:18px"><span style="font-family:Calibri"><em>(Based on views expressed by Asian Development Bank, British Embassy, European Union, German Embassy, Embassy of Switzerland, and World Bank)</em></span></span></p>

<p>&nbsp;</p>
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		'Article' => array(
			'id' => '13459',
			'article_category_id' => '1',
			'title' => 'Hotel Industry on the Verge of Collapse: HAN',
			'sub_title' => 'Hoteliers urge the government to adopt a policy to support them',
			'summary' => 'May 28: The Hotel Association of Nepal (HAN) has said that the hotel industry will collapse if the government does not adopt policies to support the tourism and hotel industries.',
			'content' => '<p><span style="font-size:16px"><span style="font-family:Times"><span style="font-family:&quot;Times New Roman&quot;">May 28: The Hotel Association of Nepal (HAN) has said that the hotel industry will collapse if the government does not adopt policies to support the tourism and hotel industries. The umbrella body of hotel operators drew the government&#39;s attention stating that Covid-19 has severely affected the hotel industry and needs a government&rsquo;s support and budget for revival.</span></span></span></p>

<p><span style="font-size:16px"><span style="font-family:Times"><span style="font-family:&quot;Times New Roman&quot;">Issuing a press statement on May 27, HAN demanded the government to address various issues that have troubled them. The association has requested the government to address severely affected industries, establish protection funds, provide concession on tax including special concessions, waivers, banking concessions, rebates on electricity tariffs and charges, suspension of financial obligations, in addition to staff and workers welfare scheme and promotion of internal tourism.</span></span></span></p>

<p><span style="font-size:16px"><span style="font-family:Times"><span style="font-family:&quot;Times New Roman&quot;">According to HAN, the hotel industry, hit by the global pandemic, has not been able to get back on track due to the second wave of coronavirus infection. It is mentioned in the press statement that the hoteliers are in a state of great confusion and panic regarding the risk of their hotel business.</span></span></span></p>

<p><span style="font-size:16px"><span style="font-family:Times"><span style="font-family:&quot;Times New Roman&quot;">Shreejana Rana, president of HAN, said that the employment of millions of individuals dependent on the hotel and tourism business is at stake.&nbsp;</span></span></span></p>

<p><span style="font-size:16px"><span style="font-family:Times"><span style="font-family:&quot;Times New Roman&quot;">Likewise, the press statement says that many hoteliers have been compelled to flee due to the current situation. HAN said that the tourism and hotel industry is at risk of collapsing.</span></span></span></p>

<p><span style="font-size:16px"><span style="font-family:Times"><span style="font-family:&quot;Times New Roman&quot;">The statement further says it would take time for tourism to return to normalcy even after the coronavirus pandemic subsides. HAN has also demanded the government to establish a business protection fund for the revival of the hotel industry and an employment protection fund for its dependent employees and workers.</span></span></span></p>

<p><span style="font-size:16px"><span style="font-family:Times"><span style="font-family:&quot;Times New Roman&quot;">Similarly, HAN has demanded the government to provide concession in tax for 3 years along with 50 percent exemption in value-added tax till the business returns to normalcy. HAN also stressed the need to waive direct taxes levied by the federal, provincial, and local governments on the hotel sector for the next three years. The association also has asked for a 50 percent discount on electricity tariffs for the next two years.&nbsp;</span></span></span></p>

<p><span style="font-size:16px"><span style="font-family:Times"><span style="font-family:&quot;Times New Roman&quot;">Likewise, the association also has demanded the government introduce policies to promote domestic tourism.</span></span></span></p>

<p>&nbsp;</p>
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		'Article' => array(
			'id' => '13458',
			'article_category_id' => '1',
			'title' => 'Remittance Companies Urge Central Bank to Facilitate them in Availing their Services',
			'sub_title' => '',
			'summary' => 'May 28: With the extension of prohibitory order, remittance companies have been facing problems in acquiring passes for transportation. ',
			'content' => '<p><span style="font-size:16px"><span style="font-family:Times"><span style="font-family:&quot;Times New Roman&quot;">May 28</span>: <span style="font-family:&quot;Times New Roman&quot;">With the extension of prohibitory order, remittance companies have been facing problems in acquiring passes for transportation. This has in turn affected not only their business but also people from availing their service. Thus, remittance companies have requested Nepal Rastra Bank to facilitate in remittance payment.</span></span></span></p>

<p><span style="font-size:16px"><span style="font-family:Times"><span style="font-family:&quot;Times New Roman&quot;">The Umbrella Organization of Nepal Remitters Association has submitted a written request to the District Administration Office to arrange transportation passes for at least a limited number of employees.</span></span></span></p>

<p><span style="font-size:16px"><span style="font-family:Times"><span style="font-family:&quot;Times New Roman&quot;">The association submitted such a request after the government&rsquo;s decision to extend the prohibitory period and enforce it strictly.</span></span></span></p>

<p><span style="font-size:16px"><span style="font-family:Times"><span style="font-family:&quot;Times New Roman&quot;">Officials at the Foreign Exchange Department of Nepal Rastra Bank stated that they have verbally requested the Chief District Officers to provide at least one or two passes per company since the central bank does not intend to halt remittance service.</span></span></span></p>

<p><span style="font-size:16px"><span style="font-family:Times"><span style="font-family:&quot;Times New Roman&quot;">According to Guru Prasad Poudel, the director of the department, the District Administration Offices have been requested to facilitate transportation to remittance companies for giving continuity to their services.</span></span></span></p>

<p><span style="font-size:16px"><span style="font-family:Times"><span style="font-family:&quot;Times New Roman&quot;">Due to high infection of Covid-19, Nepal Rastra Bank had directed remittance companies to carry out their operation with a handful of employees. On May 2</span>, the companies were directed to work with maximum safety and vigilance. The Foreign Exchange Department of the central bank directed remittance companies to work with participation of limited number of employees.</span></span></p>

<p><span style="font-size:16px"><span style="font-family:Times"><span style="font-family:&quot;Times New Roman&quot;">Till date, 51 remittance companies have received permission from Nepal Rastra Bank to continue their operation. Similarly, 10 payment system operators and 28 payment service providers are given permission to operate.</span></span></span></p>

<p>&nbsp;</p>
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			'title' => 'Former Finance Ministers Suggest Government not to Introduce Full Budget ',
			'sub_title' => '',
			'summary' => 'May 28: Former finance ministers have suggested the government not to introduce full budget through ordinance as there is no majority government at present.',
			'content' => '<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Times New Roman&quot;">May 28: Former finance ministers have suggested the government not to introduce full budget through ordinance as there is no majority government at present.</span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Times New Roman&quot;">They were of the view that a caretaker government should not announce full-fledged budget while the issue of restoration of parliament is sub judice in the Supreme Court.</span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Times New Roman&quot;">They made such appeal during a meeting of the former finance ministers&rsquo; forum. The ex-ministers also discussed about the budget for the upcoming&nbsp;Fiscal Year (FY 2078/79) and the impact of covid-19 on the economy.</span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Times New Roman&quot;">Issuing a statement after the meeting, former finance ministers Prakash Chandra Lohani, Ram Sharan Mahat, Krishna Bahadur Mahara, Surenda Paney and Barshaman Pun said, &ldquo;According to the international practice, it is not appropriate to bring a full budget in such a situation. If a budget needs to be brought through ordinance in such times, it is suggested to bring a provisional budget with regular expenditure only.&rdquo;</span></span></span></span></p>

<p>&nbsp;</p>
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			'title' => 'Stakeholders' Reaction to Budget',
			'sub_title' => '',
			'summary' => 'May 30: The budget unveiled by the government on May 29 has drawn mixed reaction from various stakeholders.',
			'content' => '<p><span style="font-size:16px"><span style="font-family:Cambria"><span style="font-family:Times">May 30: The budget unveiled by the government on May 29 has drawn mixed reaction from various stakeholders. While some have hailed the government for introducing investment friendly budget and prioritizing vaccination drive against Covid-19, others have criticized the government for introducing a full-fledged budget through ordinance at a time when the parliament is dissolved.</span></span></span></p>

<p><span style="font-size:16px"><span style="font-family:Cambria"><strong><span style="font-family:Times">Burden of loans on future generation</span></strong></span></span></p>

<p><span style="font-size:16px"><span style="font-family:Cambria"><span style="font-family:Times">Dr Ramsharan Mahat, </span></span></span></p>

<p><span style="font-size:16px"><span style="font-family:Cambria"><span style="font-family:Times">Former Finance Minister</span></span></span></p>

<p><span style="font-size:16px"><span style="font-family:Cambria"><span style="font-family:Times">Overall the government has brought budget going beyond its jurisdiction. The caretaker government is not allowed to introduce a full budget program. The budget should also be a temporary one. But the government has introduced budget going against the spirit of constitution. Apart from that, the budget is populist in nature. It is very challenging to implement provisions introduced in the budget.</span></span></span></p>

<p><span style="font-size:16px"><span style="font-family:Cambria"><span style="font-family:Times">On top of that, the size of the budget at this time of crisis is too large. One third of the budget financing will be arranged through foreign loans. This will add burden of loans on future generation. I don&#39;t have objection on government&#39;s priority sector but overall the budget is not satisfactory.</span></span></span></p>

<p><span style="font-size:16px"><span style="font-family:Cambria"><strong><span style="font-family:Times">Budget has been introduced to cater to the present needs</span></strong></span></span></p>

<p><span style="font-size:16px"><span style="font-family:Cambria"><span style="font-family:Times">Dilliraj Khanal</span></span></span></p>

<p><span style="font-size:16px"><span style="font-family:Cambria"><span style="font-family:Times">Former member of the National Planning commission </span></span></span></p>

<p><span style="font-size:16px"><span style="font-family:Cambria"><span style="font-family:Times">The budget has been introduced proritizing the present COVID-19 crisis which is very commendable. Along with that, relief packages, tax waiver, increment on social security allowance has been introduced. The program of social security has been highly prioritized.</span></span></span></p>

<p><span style="font-size:16px"><span style="font-family:Cambria"><span style="font-family:Times">The budget has followed the same discourse as that of the world and has been criticised as a populist one. The aim of inoculating the people with COVID-19 vaccine is not a populist step but the need of the hour. However, it remains to be seen if the programme can be made effective and accountable.</span></span></span></p>

<p><span style="font-size:16px"><span style="font-family:Cambria"><strong><span style="font-family:Helvetica">Budget for upcoming fiscal year is way better than we had expected it to be</span></strong></span></span></p>

<p><span style="font-size:16px"><span style="font-family:Cambria"><span style="font-family:Helvetica">Shekhar Golchha, </span></span></span></p>

<p><span style="font-size:16px"><span style="font-family:Cambria"><span style="font-family:Helvetica">FNCCI president </span></span></span></p>

<p><span style="font-size:16px"><span style="font-family:Cambria"><span style="font-family:Helvetica">We are yet to do a detailed study of the budget presented for the upcoming fiscal year. I think the budget is friendly towards private sector as well as investment-friendly.</span></span></span></p>

<p><span style="font-size:16px"><span style="font-family:Cambria"><span style="font-family:Helvetica">Demands that we were raising for long have now been finally addressed. The budget program is way better than we had expected it to be. Tax rates applied on various businesses have gone down. The government has provided VAT rebate on diesel and increased the facilities introduced through monetary policy in the last fiscal year.</span></span></span></p>

<p><span style="font-size:16px"><span style="font-family:Cambria"><span style="font-family:Helvetica">The new issue of billing charges is the most encouraging one. If this is implemented, any power producer can directly sell it to the industry. This will bring a huge change in the industrial sector. All in all,the &nbsp;budget is private sector and investment-friendly.</span></span></span></p>

<p><span style="font-size:12pt"><span style="font-family:Cambria"><strong><span style="font-family:&quot;Times New Roman&quot;">Budget implementation is difficult</span></strong></span></span></p>

<p><span style="font-size:12pt"><span style="font-family:Cambria"><span style="font-family:&quot;Times New Roman&quot;">Rajendra Malla</span></span></span></p>

<p><span style="font-size:12pt"><span style="font-family:Cambria"><span style="font-family:&quot;Times New Roman&quot;">President, Nepal Chamber of Commerce</span></span></span></p>

<p><span style="font-size:12pt"><span style="font-family:Cambria"><span style="font-family:&quot;Times New Roman&quot;">While the budget of Rs 1,647.57 billion has been announced, the goal is to collect Rs 1024 billion from internal revenue. The goal seems to be very difficult to achieve. It could have been done under normal circumstances, but we are in a chaotic situation due to this pandemic. The goal is challenging in itself. Industries and businesses are in a state of collapse at present. Thus, the implementation of the budget is difficult. Nevertheless, suggestions from the private sector are included in the budget. DPR study of metro rail, temple construction and other issues are also included in the budget this year. It would not have made any difference even if it was included after one or two years. Attention should have been paid to the current priorities. Despite this, the overall budget is still positive. However, due to the current pandemic and political crisis, the implementation process is complicated and we are concerned about this.</span></span></span></p>

<p><span style="font-size:12pt"><span style="font-family:Cambria"><strong><span style="font-family:&quot;Times New Roman&quot;">Implementation should be done in collaboration with private sector</span></strong></span></span></p>

<p><span style="font-size:12pt"><span style="font-family:Cambria"><span style="font-family:&quot;Times New Roman&quot;">Satish Kumar Moore</span></span></span></p>

<p><span style="font-size:12pt"><span style="font-family:Cambria"><span style="font-family:&quot;Times New Roman&quot;">President, Confederation of Nepalese Industries</span></span></span></p>

<p><span style="font-size:12pt"><span style="font-family:Cambria"><span style="font-family:&quot;Times New Roman&quot;">Although some people were saying that the full budget should not be brought in such a situation, we were demanding that a full budget should be brought for policy making. Now, the full budget has been introduced where suggestions from the private sector have been addressed. The issue of billing charges has been raised. The budget is brought in a way that promotes infrastructure development, vaccine management and startup industry. We have found that the budget supports our important campaign of Make in Nepal. But its implementation is very challenging. So, we will also take initiative to create an environment of implementation in collaboration with the private sector.</span></span></span></p>

<p><span style="font-size:12pt"><span style="font-family:Cambria"><strong><span style="font-family:&quot;Times New Roman&quot;">Best budget in history</span></strong></span></span></p>

<p><span style="font-size:12pt"><span style="font-family:Cambria"><span style="font-family:&quot;Times New Roman&quot;">Krishna Dulal</span></span></span></p>

<p><span style="font-size:12pt"><span style="font-family:Cambria"><span style="font-family:&quot;Times New Roman&quot;">President, NADA </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 budget of the Fiscal Year 2078/79 has announced full exemption of excise duty on the import of electric vehicles. Similarly, renewal fee will be waived for five years if petroleum-powered vehicles are converted into electric vehicles, diesel-powered light vehicles will be replaced with electric vehicles by 2088, electric vehicles will be operated and assembled and production will be initiated, customs exemption will be given. It has been announced to give 90 percent income tax exemption to traders having transactions of up to Rs 2 million and 50 percent income tax exemption to traders having transactions of up to Rs 10 million. Similarly, that tax payment certificates will be automatically provided after submitting tax details, while the government has announced to build 500 charging stations, provide income tax exemption and loan to startup business for 5 years. So, overall the budget is encouraging. We consider it the best budget in history.&nbsp;</span></span></span></p>

<p><span style="font-size:12pt"><span style="font-family:Cambria"><strong><span style="font-family:&quot;Times New Roman&quot;">The goal of achieving a economic growth of up to 6.5 percent is challenging</span></strong></span></span></p>

<p><span style="font-size:12pt"><span style="font-family:Cambria"><span style="font-family:&quot;Times New Roman&quot;">Bhuvan Kumar Dahal</span></span></span></p>

<p><span style="font-size:12pt"><span style="font-family:Cambria"><span style="font-family:&quot;Times New Roman&quot;">President, Nepal Bankers Association</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 budget for the upcoming fiscal year is encouraging. But implementation is needed. It is necessary to submit the progress report by implementing the programmes addressed by the budget. At the moment, the goal of economic growth of up to 6.5 percent without controlling the pandemic is challenging. This is possible only after the Covid-19 pandemic is controlled, otherwise, it seems difficult. The goal can be achieved by bringing vaccines.</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 programmes related to banks and financial institutions introduced in the budget are commendable. Digital banking is encouraged for the banking business. It was necessary. The budget for infrastructure is well allocated. But looking at the past, there is a lack of coordination in development expenditure because such spending seems to be slow. It is important to implement the budget and address it in time.</span></span></span></p>

<p><span style="font-size:12pt"><span style="font-family:Cambria"><strong><span style="font-family:&quot;Times New Roman&quot;">The issue of the extension was not enough</span></strong></span></span></p>

<p><span style="font-size:12pt"><span style="font-family:Cambria"><span style="font-family:&quot;Times New Roman&quot;">Ravi Singh</span></span></span></p>

<p><span style="font-size:12pt"><span style="font-family:Cambria"><span style="font-family:&quot;Times New Roman&quot;">Chairman,</span> <span style="font-family:&quot;Times New Roman&quot;">Federation of Contractors Association of Nepal </span></span></span></p>

<p><span style="font-size:12pt"><span style="font-family:Cambria"><span style="font-family:&quot;Times New Roman&quot;">We have taken the budget positively. However, the provision regarding extension of projects is not sufficient. The tax rebates so far are also good. The amount allocated for hospitals is not enough. However,&nbsp;the projects should be planned to be fully paid within the project period while allocating the budget, but this preparation is still not seen. The budget seems to be focused on the election. Since it was brought to please everyone, there is no reliable basis on its implementation part.</span></span></span></p>

<p><span style="font-size:12pt"><span style="font-family:Cambria"><strong><span style="font-family:&quot;Times New Roman&quot;">Addresses the demands of tourism entrepreneurs</span></strong></span></span></p>

<p><span style="font-size:12pt"><span style="font-family:Cambria"><span style="font-family:&quot;Times New Roman&quot;">Binayak Shah&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;">Vice President</span><span style="font-size:10.0pt"><span style="font-family:Times">, </span></span><span style="font-family:&quot;Times New Roman&quot;">Hotel Association of Nepal</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 budget has announced a separate relief for tourism and is positive. We had anticipated emergency plans in tourism. It has come sporadically. However, many things have been addressed as demanded by the entrepreneurs. Decisions such as not charging one month&rsquo;s visa fee to foreigners and giving 10 days of tourism leave to promote domestic tourism are positive aspects. It is better to consider the hotel and tourism industry as a productive sector. Even though the budget is good, it remains to be seen how it will be implemented. It is also important to have supervision over whether it has been implemented or not.</span></span></span></p>

<p><span style="font-size:12pt"><span style="font-family:Cambria"><strong><span style="font-family:&quot;Times New Roman&quot;">There is no reason to be excited</span></strong></span></span></p>

<p><span style="font-size:12pt"><span style="font-family:Cambria"><span style="font-family:&quot;Times New Roman&quot;">Ganesh Prasad Lath</span></span></span></p>

<p><span style="font-size:12pt"><span style="font-family:Cambria"><span style="font-family:&quot;Times New Roman&quot;">Representative, FNCCI</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 budget has tried to satisfy everyone. Still, there are no grounds to be excited over it. It sounds good to hear about vaccinations and ICU as well as ventilators in hospitals. The topic of health infrastructures was included in the budget of the current fiscal year as well. Oxygen plants in hospitals of hundred beds are something related to regulation, the government has no role in investment in this issue. There aren&rsquo;t any special points in the budget that one can get excited about.</span></span></span></p>

<p><span style="font-size:12pt"><span style="font-family:Cambria"><strong><span style="font-family:&quot;Times New Roman&quot;">There are doubts in budget implementation</span></strong></span></span></p>

<p><span style="font-size:12pt"><span style="font-family:Cambria"><span style="font-family:&quot;Times New Roman&quot;">Rajendra Raut</span></span></span></p>

<p><span style="font-size:12pt"><span style="font-family:Cambria"><span style="font-family:&quot;Times New Roman&quot;">Central Member, FNCCI</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 size of the budget this year is larger in comparison to that of last year. The aim of revenue collection this year is greater as well. The success or failure of the budget would be decided by the implementation part. In the present crisis of pandemic, the allocation of 1 trillion budget for Covid-19 prevention is quite welcoming. Only 60 percent of the budget for infrastructure development was spent last year. Government has allocated budget in the projects that do not make complete use of the allocated budget. The implementation of this budget is doubtful.&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;">The budget allocated to reduce trade deficit, to reduce consumption of petroleum products, to encourage production of electric vehicles are praiseworthy. It is a good thing to introduce the programme to give tax discounts on electrical equipment in order to increase the consumption of produced electricity. But it would have been better if there was a provision to grant tax discounts on manufactured electric vehicles. The budget is lacking in some manner in order to make the agriculture sector self-reliant.</span></span></span></p>

<p><span style="font-size:12pt"><span style="font-family:Cambria"><strong><span style="font-family:&quot;Times New Roman&quot;">The budget is worth welcoming</span></strong></span></span></p>

<p><span style="font-size:12pt"><span style="font-family:Cambria"><span style="font-family:&quot;Times New Roman&quot;">Bhim Ghimire</span></span></span></p>

<p><span style="font-size:12pt"><span style="font-family:Cambria"><span style="font-family:&quot;Times New Roman&quot;">Province 1 President, Confederation of Nepalese Industries</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 approach to allocate budget prioritizing the health sector is a positive indication. The budget has tried to be inclusive of young entrepreneurs and it is a very good thing. I am very pleased as our demand of making the 650 bighas of land in Amduwa of Sunsari into an economic zone has been addressed which we have been demanding time and again. Similarly, we have also been demanding a state-level industrial exhibition for Province 1. </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&#39;s plan to shift industries of Kathmandu to Hetauda and the services provided for that matter are pretty exciting. To discourage import, antidumping would be implemented. The project by the government to encourage export of cement, slippers and shoes are praiseworthy.</span></span></span></p>

<p>&nbsp;</p>

<p>&nbsp;</p>
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			'summary' => 'Minister for Finance Bishnu Prasad Paudel has introduced the budget for the upcoming fiscal year (2021/22) with a plan to spend a total of Rs 1,647.57 billion. ',
			'content' => '<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt">May 29: Minister for Finance Bishnu Prasad Paudel has introduced the budget for the upcoming fiscal year (FY 2021/22) with a plan to spend a total of Rs 1,647.57 billion.&nbsp;<br />
Out of the total budget, Rs 678.61 billion has been allocated for recurrent expenditures, Rs 374.26 billion for capital expenditure, Rs 386.71 billion for fiscal transfer and Rs 207.97 billion for financing.&nbsp;<img alt="" src="/app/webroot/userfiles/images/7e8d4e61-13b4-4390-8130-31876b20a030%20-%20Copy%281%29.jpg" style="float:right; height:358px; width:500px" /><br />
To pay for its spending, the government has announced that it will collect Rs 1,024.9 billion in revenues and Rs 63.37 billion in foreign grants. For the deficit financing, Finance Minister Poudel said that the government will mobilize Rs 309.29 billion in foreign loans and Rs 250 billion in domestic borrowing. &nbsp;</span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt">The total spending amount is nearly 11.72 percent higher than the government&rsquo;s budget of Rs 1,474.64 billion for the current fiscal year (FY 2020/21).&nbsp;<br />
The spending includes a significant portion of allocation on healthcare, vaccination and other measures to combat Covid-19. Similarly, Finance Minister Paudel also announced a significant raise on social security allowances. </span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt">The budget was issued on May 29 through ordinance as the House of Representatives is currently dissolved.</span></span></span></p>
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			'summary' => 'May 29: The government is set to launch the Mobile Device Management System. ',
			'content' => '<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:12.0pt"><span style="font-family:Arial">May 29: The government is set to launch the Mobile Device Management System (MDMS), &nbsp;a </span></span><span style="font-size:12.0pt"><span style="font-family:Arial">software</span></span><span style="font-size:12.0pt"><span style="font-family:Arial"> that allows IT administrators to control, secure and enforce policies on smartphones, tablets and other endpoints, from the upcoming fiscal year (July 16) </span></span><span style="font-size:12.0pt"><span style="font-family:Arial">&nbsp;in a bid to control the illegal import of mobile phones. </span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:12.0pt"><span style="font-family:Arial">Finance Minister Bishunu Poudel made this announcement while unveiling the budget for the upcoming fiscal year (FY 2021/22) on Saturday, May 29.</span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:12.0pt"><span style="font-family:Arial">MDMS&nbsp;will track mobile phones based on the IMEI number of those devices. The government is set to introduce the system to control the grey market of mobile phones and bring all the mobile phones under legal registration.&nbsp;</span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:12.0pt"><span style="font-family:Arial">According to Nepal Telecommunications Authority (NTA), it has allocated its own funds for the cost of designing, developing and operation the MDMS software.&nbsp;</span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:12.0pt"><span style="font-family:Arial">The government has also announced plans to extend broadband Internet service to all local units by utilizing &nbsp;the Rural Telecommunication Development Fund (RTDF). It has also announced to extend 4G service to all local units and provide free broadband service to all community schools in the next two years.&nbsp;</span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:12.0pt"><span style="font-family:Arial">While presenting the budget, Minister Poudel also made the announcement to complete the construction of the Information Superhighway within two years. Optical fiber projects that are being built in seven provinces form the backbone of the information highway. The state-owned telecom service provider, Nepal Telecom, is laying optical fiber in provinces 1, 2, Bagmati Province, Karnali Province and Sudurpaschim Province. In provinces 4 and 5, United Telecom Limited had received the contract but couldn&#39;t make any headway in the project. The case is now pending in the court as NTA refused to extend the deadline of the project for UTL.&nbsp;</span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:12.0pt"><span style="font-family:Arial">Finance Minister Poudel also announced to launch NTV World to broadcast the contents of the state-owned television channel all over the world.</span></span></span></span></p>

<p>&nbsp;</p>
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			'id' => '13468',
			'article_category_id' => '1',
			'title' => 'Government Allocates Rs 26.75 Billion to Purchase anti-COVID-19 Vaccines ',
			'sub_title' => '',
			'summary' => 'May 29: The government has allocated Rs 26.75 billion in the budget of Fiscal Year 2021/22 for controlling COVID-19 pandemic.    ',
			'content' => '<p><span style="font-size:16px"><span style="font-family:Cambria"><span style="font-family:&quot;Arial Unicode MS&quot;">May 29: The government has allocated Rs 26.75 billion in the budget of Fiscal Year 2021/22 for controlling COVID-19 pandemic.&nbsp;&nbsp;&nbsp;&nbsp; </span><br />
<span style="font-family:&quot;Arial Unicode MS&quot;">While presenting the budget on Saturday (May 29), Finance Minister Bishnu Prasad Poudel said that Rs 26.75 billion has been allocated in the budget to purchase the anti-COVID-19 vaccines to be administered to all citizens free-of-cost.&nbsp;&nbsp;&nbsp;&nbsp; </span><br />
<span style="font-family:&quot;Arial Unicode MS&quot;">Minister Poudel added that Rs 37.57 billion was earmarked to curb the pandemic while Rs 5.60 billion has been allocated to purchase the medicines and equipment in view of controlling the pandemic.&nbsp;&nbsp;&nbsp;&nbsp; </span><br />
<span style="font-family:&quot;Arial Unicode MS&quot;">The Finance Minister further shared that the customs duty and taxes were reduced in importing the medical equipment and devices, the state-owned national news agency RSS reported. </span></span></span></p>

<p><span style="font-size:16px"><span style="font-family:Cambria"><span style="font-family:&quot;Arial Unicode MS&quot;">Meanwhile, Minister Poudel while presenting the budget said that the government has made arrangements for call centres, mobile service, telemedicine and psychological counseling to aide Covid-19 infected patients. </span><br />
&nbsp;</span></span></p>
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			'article_date' => '2021-05-29 18:44:52',
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		'Article' => array(
			'id' => '13467',
			'article_category_id' => '1',
			'title' => 'Social Security Allowance for Senior Citizens Increased to Rs 4,000 Per Month',
			'sub_title' => '',
			'summary' => 'May 29: The government has increased the social security allowance for senior citizens by Rs 1,000 effective from Fiscal Year 2078/79. ',
			'content' => '<p><span style="font-size:12pt"><span style="font-family:Cambria"><span style="font-family:&quot;Times New Roman&quot;">May 29: The government has increased the social security allowance for senior citizens by Rs 1,000 effective from Fiscal Year 2078/79. With this, the social security allowance for senior citizens who are above 70 years of age has reached Rs 4,000 per month. In FY 2076/77, former finance minister Dr Yuba Raj Khatiwada had increased the senior citizen allowance to Rs 3,000. The increased allowance of senior citizens will come into effect from July 16, 2021.&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;">Presenting the budget for the upcoming fiscal year at Singha Durbar on Saturday, Finance Minister Bishnu Prasad Poudel announced that all types of social security allowances have been increased by 33 percent. He said that Rs 100 billion has been allocated for social security allowance. For the current fiscal year, Rs 67.50 billion was allocated for social security allowance.</span></span></span></p>

<p><span style="font-size:12pt"><span style="font-family:Cambria"><span style="font-family:&quot;Times New Roman&quot;">Senior citizen, Dalits, single women, disabled, terminally ill person, people from indigenous community, people living below poverty line, children will be provided social security allowance.</span></span></span></p>

<p><span style="font-size:12pt"><span style="font-family:Cambria"><span style="font-family:&quot;Times New Roman&quot;">Similarly, the government has announced free medical treatment for senior citizens.&nbsp;</span></span></span></p>

<p><br />
&nbsp;</p>
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			'article_date' => '2021-05-29 18:24:32',
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		'Article' => array(
			'id' => '13466',
			'article_category_id' => '1',
			'title' => 'Government Lists Tourism Industry in Productive Sector ',
			'sub_title' => '',
			'summary' => 'May 29: The government has categorized the hotel industry and tourism business as productive sector.',
			'content' => '<p><span style="font-size:18px"><span style="font-family:Cambria"><span style="font-family:&quot;Times New Roman&quot;">May 29: The government has categorized the hotel industry and tourism business as productive sector.</span></span></span></p>

<p><span style="font-size:18px"><span style="font-family:Cambria"><span style="font-family:&quot;Times New Roman&quot;">Minister for Finance Bishnu Poudel made such announcement while presenting the budget for the upcoming fiscal year on Saturday, May 29.</span></span></span></p>

<p><span style="font-size:18px"><span style="font-family:Cambria"><span style="font-family:&quot;Times New Roman&quot;">The government has listed tourism sector as productive sector as per the demand of the tourism entrepreneurs and hoteliers of the country. Tourism entrepreneurs had been pressing the government to include tourism industry in the productive sector since a long time.&nbsp;</span></span></span></p>

<p><span style="font-size:18px"><span style="font-family:Cambria"><span style="font-family:&quot;Times New Roman&quot;">The government has announced relief packages to provide concessional loans, tax exemption, and discounts on various types of charges to tourism and aviation businesses.</span></span></span></p>

<p><span style="font-size:18px"><span style="font-family:Cambria"><span style="font-family:&quot;Times New Roman&quot;">Last year, the government while announcing special packages for the productive sector as Covid-19 relief in the previous budget had excluded tourism and hotel business from the list.&nbsp;</span></span></span></p>

<p><span style="font-size:18px"><span style="font-family:Cambria"><span style="font-family:&quot;Times New Roman&quot;">Meanwhile, the new budget has announced a 30 percent waiver on electricity tarriffs for sectors with consumption of electricity above 200 units, which includes hotel industry.&nbsp;</span></span></span></p>

<p><span style="font-size:18px"><span style="font-family:Cambria"><span style="font-family:&quot;Times New Roman&quot;">Likewise, the government has waived the electricity demand fee of the hotel industry in the upcoming annual budget. The government will also provide the pledged relief packages to hotels that were used as quarantine and isolation facilities.&nbsp;</span></span></span></p>

<p><span style="font-size:18px"><span style="font-family:Cambria"><span style="font-family:&quot;Times New Roman&quot;">The budget also provides a waiver on renewal fees for tourism-related industries. &nbsp; </span></span></span></p>

<p><span style="font-size:18px"><span style="font-family:Cambria"><span style="font-family:&quot;Times New Roman&quot;">The government has also decided to provide 50 percent waiver on rents and give continuity to the concessional loan of 5 percent to support the tourism industry along with other productive sectors against Covid-19.&nbsp;</span></span></span></p>

<p><span style="font-size:18px"><span style="font-family:Cambria"><span style="font-family:&quot;Times New Roman&quot;">Likewise, Minister Poudel also announced to provide 10 days&rsquo; salary to a government official for promoting domestic tourism. </span></span></span></p>

<p><span style="font-size:18px"><span style="font-family:Cambria"><span style="font-family:&quot;Times New Roman&quot;">&ldquo;We will also encourage the private sectors to provide similar packages to their employees,&rdquo; the Minister added.</span></span></span></p>

<p><span style="font-size:18px"><span style="font-family:Cambria"><span style="font-family:&quot;Times New Roman&quot;">The government has announced plans to develop and promote Nepal as an attractive and safe tourism destination.&nbsp;&nbsp;&nbsp;</span></span></span></p>

<p><span style="font-size:18px"><span style="font-family:Cambria"><span style="font-family:&quot;Times New Roman&quot;">The government has allocated Rs 590 million for the development of tourism-related infrastructure in Janakpurdham and other destinations.&nbsp;</span></span></span></p>

<p><span style="font-size:18px"><span style="font-family:Cambria"><span style="font-family:&quot;Times New Roman&quot;">The government has also allocated budget to continue infrastructure development in Muktinath and Kagbeni and to build new hiking trails in Khaptad, Rara, Lower Dolpo, Simikot. </span></span></span></p>

<p><span style="font-size:18px"><span style="font-family:Cambria"><span style="font-family:&quot;Times New Roman&quot;">In addition, the government &nbsp;has plans to develop a cycling lane along the Phewa Lake in Pokhara and various trekking trails across the country.&nbsp;</span></span></span></p>

<p><span style="font-size:18px"><span style="font-family:Cambria"><span style="font-family:&quot;Times New Roman&quot;">Likewise, the government has allocated budget for establishing an integrated GPS system for rescuing and tracking tourists.&nbsp;</span></span></span></p>

<p><span style="font-size:18px"><span style="font-family:Cambria"><span style="font-family:&quot;Times New Roman&quot;">The government has announced plans to introduce special packages to promote adventure, agro, gastro, and religious tourism activities. Similarly, the government has announced plans to conduct a physical study for a sports project aiming to promote sports tourism.&nbsp;&nbsp;</span></span></span></p>

<p><span style="font-size:18px"><span style="font-family:Cambria"><span style="font-family:&quot;Times New Roman&quot;">The government has allocated Rs 27.47 billion for the development of tourism infrastructure and promotional activities.&nbsp;&nbsp;</span></span></span></p>

<p>&nbsp;</p>
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			'id' => '13465',
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			'title' => '68th Anniversary of Mt Everest’s First Ascent: A Glorious Past and a Bleak Future',
			'sub_title' => '',
			'summary' => 'It has become one of the most crucial tasks to save Mt Everest and the other mountains of Nepal from the adverse impacts of global warming.',
			'content' => '<p><span style="font-size:22px"><em>It has become one of the most crucial tasks to save Mt Everest and the other mountains of Nepal from the adverse impacts of global warming.</em></span></p>

<p><img alt="" src="/app/webroot/userfiles/images/1234%281%29.jpg" style="height:169px; width:200px" /></p>

<p>Last year some mountain climbers asked me to participate in the International Mt Everest (Sagarmatha) Day, a day celebrated since 2007 to commemorate the first ascent of Mt Everest by Edmund Hilary and Tenzing Norgay on 29 May, 1953.&nbsp; Upon receiving the invitation card, I was surprised to see my name as &lsquo;Mt. Everest&rsquo; (Sagarmatha) whereas my local Tibetan name is &lsquo;Chomolungma&rsquo; which means &lsquo;Goddess Mother of the World&rsquo;. I asked them to explain the meaning of Mt. Everest (Sagarmatha). They told me, &quot;You were named after British surveyor and geographer Sir George Everest in 1865.&quot; Then I asked them, &quot;Ok, then what is the meaning of Sagarmatha and who gave me this name?&quot; They said, &quot;Sagarmatha means the Peak of Heaven and the name was given to you by the Nepali historian Baburam Acharya in 1956.&quot;</p>

<p>On May 29, a special programme was organised in the presence of different mountain culture groups, mountaineers and local people. I was surprised to see representatives of mountains above 8,000 metres and the seven highest peaks of the world at the programme. I was looking for Nawang Gombu Sherpa- the first mountaineer to conquer me twice, a record which he set in 1965. At that time, I heard someone calling my name &lsquo;Everest, Everest&rsquo;, which was familiar to me. I turned around to see the person was Sir Edmund Hilary. I greeted him and said, &quot;Hello Edmund! How are you? Are you alone or with Tenzin?&rdquo; He replied, &quot;Yes, he is here and is busy meeting some of his native friends,&quot; and asked me if I met the Japanese mountaineer Junko Tabei, the first female to climb the world&rsquo;s highest peak on May 16, 1975.</p>

<p>Then, Edmund took me to Pema Sherpa who was found with Tabei and Pasang Lhamu Sherpa. I had a strong desire to meet Pema because of her achievement as the first Nepali woman to climb the peak from the south and north sides on 29 May 2000 and 16 May 2002, respectively. Pasang Lhamu Sherpa is the first Nepali woman to wave the national flag on the top of the peak on 23 April 1993. They were together with the oldest female climber from Japan Tamae Watanabe who was 73 years old when she climbed the peak on May 19, 2012.</p>

<p><img alt="" src="/app/webroot/userfiles/images/saa.jpg" style="height:510px; width:800px" /></p>

<p>There I met Churim Sherpa, the first woman to conquer me twice during a single season -- on 12 May and May 19 of 2012. I noticed one of the oldest climbers Yūichirō Miura from Japan who was 80 years 224 days old when he reached the Everest summit on May 23, 2013. He was the first mountaineer to ski down 2,000 metres of Mt Everest on May 6, 1970. Miura beat the record of oldest Nepali oldest climber Min Bahadur Sherchan, who was 76 years 11 month 6 days when he climbed the peak on May 5, 2008. There I met Babu Chiri Sherpa, who stayed at the summit for over 21 hours without auxilary oxygen on 21 May 2000, a record which is yet to be broken.</p>

<p>The programme did not start on time, so I just wandered around the crowd and spotted Reinhold Messner from Italy and Peter Habler from Austria. These two Europeans were the first to set the world record for climbing the summit without supplement oxygen on May 8, 1978. With them was Lydia Bradey from New Zealand, the first woman to conquer Mt Everest without oxygen on October 14, 1988. &nbsp;</p>

<p>I also met the Polish mountaineer Kyzysztof Wielicki who is the first to reach the summit during the peak winter season when the temperature reaches -36 degrees celsius. He climbed the peak on February 17, 1980.&nbsp; Then there were the two Slovenes - Andrej Stremfelj and his wife Marija Stremfelj, first married couple to summit Mt Everest on October 7, 1990.&nbsp; Talking with them were Moni Mulepati and Pem Dorjee Sherpa, the Nepali couple who got married on the summit on May 30, 2005.</p>

<p>A French father and his son were also there to participate in the event. After reaching the summit on October 7, 1990, Jean-No&euml;l Roche and his 17-year old son Roche Bertrand a.k.a. &ldquo;Zebulon&rdquo; flew back to base camp from the South Col, a sharp edge col between Mt Everest and Mt Lhotse, via a 2-seater tandem paraglider. With this, Zebulon also became the youngest non-Nepali to reach the top. In the meantime, I saw the Spanish brothers Alberto and Felix I&ntilde;urrategi who ascended on September 25, 1992. Nepali climber Temn Chirri Sherpa, who conquered the highest peak on May 23, 2001 when he was 16 years old, was there busy talking to the first youngest Nepali climber Shambhu Tamang who reached the summit on May 5, 1973 when he was 17 years old.</p>

<p>I was also surprised to meet the American Thomas Whittaker who climbed the peak on one foot on May 27, 1998 to become the first differently-abled mountaineer to summit Mt Everest. Davo Karničar, a Slovene climber, one who did the first ski descent from the world&rsquo;s highest mountain peak on October 7, 2000 also attended the event. He also holds the record for ski descents from all seven summits.</p>

<p>Meeting the mountaineers on this special occasion was a special moment for me.&nbsp; So, without wasting this opportunity, I move on to meet Ang Chirring Sherpa, the first Nepali journalist to climb the peak on May 22, 2003. He was talking to Kalpana Maharjan, the first female journalist to summit Mt Everest; she climbed from the south (Nepal) side on May 23, 2018 and the north side (China) on May 23, 2019. Then, I came across three brothers, Lakpa Gelu Sherpa, Da Nuru Sherpa and Jangbu Sherpa, who were on the top on May 26, 2003. Lhakpa Gelu also made the world record for the fastest climb of Mt Everest within 10 hours 56 min and 46 sec. Then I saw another mountaineer Lhakpa Tharke Sherpa who stayed at the summit without upper body clothes for 3 minutes braving the -39 degrees celsius on May 24, 2006.</p>

<p>Among the participants were seven children of the same parents, who climbed Mt Everest on different dates. The siblings are Ang Chhiri, Nim Temba, Pema Tharki, Nima Gombu, Mingma Tsiri, Thundu and Pasang Tenzing Sherpa. Similarly, Sungdare Sherpa, who is considered as one of the strongest climbers and is the first mountaineer to summit the world&rsquo;s highest peak for five times, was among the attendees.</p>

<p>I was happy to meet other legendary mountaineers like the &lsquo;Snow Leopard&rsquo; Ang Rita Sherpa, the record holder of most summits without supplement oxygen; Apa Sherpa, a 21 times climber; Kami Rita Sherpa, a 25 times climber, Lhakpa Sherpa, a 9 times climber and Dave Hahn, a 15 times climber. The Indian climber Kushang Dorje Sherpa, the first person to reach the summit through the Southeast Ridge route on May 10, 1993 and May 28, 1998, Northeast Ridge route on May 17, 1996 and East Face on May 28, 1998, was there to celebrate the event organised to mark the first ascent of Mt Everest. &nbsp;</p>

<p>The new record holders Nirmal Purja and Mingma Gyabu were seen together in the event. They are the bravest mountaineers of modern mountaineering as the former British Gurkha soldier Purja has set the record for climbing all 14 highest mountains of the world within the shortest period of 6 months and 6 days. Likewise, at 31, Mingma became the youngest mountaineer to climb all 14 peaks.</p>

<p><img alt="" src="/app/webroot/userfiles/images/Clipboard01%2854%29.jpg" style="height:567px; width:800px" /></p>

<p>All members of the First Inclusive Women&#39;s Sagarmatha Expedition 2008 (FIWSE08), 9 Nepali civil service personnel of the Nepal Civil Servant First Mountain Everest Expedition, 2011 and team members of the Sagarmatha Height Measurement Expedition 2019 were also present at the event.</p>

<p>I was invited on stage for my remarks. I was a bit nervous but gathered my courage to speak up in front of the audience.</p>

<p>&quot;It is a great pleasure and honour to be here. I feel very delighted to have met 6,030 men and 471 women mountaineers so far. Mountaineering is full of risks. But mountains are blamed for the unfortunate accidents that have happened. The first accident on Mt Everest occurred in 1922 when seven porters and George Mallory of the British Mt. Everest Expedition lost their lives. Till date, more than 300 mountaineers have died trying to conquer me. Many record holder Nepali mountaineers are in different professions in developed nations, whereas foreign mountaineers are living like celebrities in their countries. Foreign climbers are well educated and earn money by selling their autobiographies, charging fees to attend talk shows and other programmes, and by engaging in other activities. But Nepali mountaineers don&rsquo;t have such avenues of income.</p>

<p>There is less attraction among Nepali youngsters to get into the mountaineering profession because of high risks, income uncertainty and other hardships. Now the time has come to think on this issue, otherwise there will be a scarcity of human resources in mountaineering by the next 2-3 decades.</p>

<p>While mountains in certain parts of the country have gained enormous national and international highlights over these years, the mountains of Nepal&rsquo;s far-western region have faced neglect. There are so many amazing mountains in this region, but the mountaineering activities are centered only on few regions. As a result of the increased tourism activities and its effect on the local economy, the living standard of people in the Khumbu region is much better than people of other mountainous regions. Expansion of tourism activities in other regions is important to uplift the lives local people. Hence, there is a need to start working on equitable development of Nepal&rsquo;s mountain tourism.</p>

<p>Over these years, many mountaineering expeditions have been conducted to raise international awareness about global warming and its effect on mountains. The situation has become alarming as there is a formation of ponds on the surface of the Khumbu Glacier due to ice melt; such water bodies did not exist a couple of decades ago. In the last 10 years, the separately formed ponds have started to join to form larger water bodies. For example, Imja Tsho or the Imja Lake, which did not exist till 1960, now has an estimated 2.6 billion litres of water. Lives of people and their houses, farm animals and monasteries are in great danger as the glacial lake can burst any time. The outburst of the glacial lake Dig Tsho in 1985 damaged several villages and claimed the lives of three people.</p>

<p>Although Nepal&rsquo;s share in climate change is negligible compared to developed and emerging economies, the country is among the 10 most affected countries due to global warming. Every year the rate of mountain snow melt is increasing, and if this continues, one day the peaks will remain only like gigantic black rocks without snow. The accelerating snow melt will increase the possibility of devastating floods and rise in sea levels affecting millions of people and animals, and adversely impact vegetation in different parts of the world. Before all this happens, people need to come together to mitigate the impact of climate change. As a mountain, I want my snow back and want it to melt naturally. Here I stand in front of you asking you to save the mountains for the earth&rsquo;s future.&quot;<br />
The hall could have heard a pin drop.</p>

<p><strong><em>(Sindurakar is former Chief Administrative Officer of Nepal Mountaineering Association.)</em></strong></p>
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			'id' => '13464',
			'article_category_id' => '1',
			'title' => 'Three Ordinances Related to Budget Issued ',
			'sub_title' => '',
			'summary' => 'May 29: President Bidya Devi Bhandari has issued three ordinances related to budget for the upcoming fiscal year.   ',
			'content' => '<p><span style="font-size:16px"><span style="font-family:Cambria"><span style="font-family:&quot;Arial Unicode MS&quot;">May 29:<em> </em>President Bidya Devi Bhandari has issued three ordinances related to budget for the upcoming fiscal year.&nbsp;&nbsp;&nbsp;&nbsp; </span><br />
<span style="font-family:&quot;Arial Unicode MS&quot;">According to the Office of the President, the &lsquo;Economic Ordinance, 2078&rsquo;, &lsquo;Appropriation Ordinance, 2078&rsquo; and &lsquo;Ordinance to Raise National Debt, 2078&rsquo; were issued on May 29.&nbsp;&nbsp;&nbsp;&nbsp; </span><br />
<span style="font-family:&quot;Arial Unicode MS&quot;">A meeting of the Council of Ministers had recommended the President to issue the ordinances. </span></span></span></p>

<p><span style="font-size:16px"><span style="font-family:Cambria"><span style="font-family:&quot;Arial Unicode MS&quot;">Minister for Finance Bishnu Prasad Poudel presented the budget for the fiscal year 2078/79 BS today (May 29). --RSS</span></span></span></p>
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	(int) 8 => array(
		'Article' => array(
			'id' => '13463',
			'article_category_id' => '1',
			'title' => 'Achieving Economic Growth Target is Challenging: Finance Minister',
			'sub_title' => '',
			'summary' => 'May 29: Finance Minister Bishnu Prasad Poudel has said it would be difficult to achieve the economic growth target determined for the current fiscal year due to the COVID-19 pandemic.   ',
			'content' => '<p><span style="font-size:16px"><span style="font-family:Cambria"><span style="font-family:&quot;Arial Unicode MS&quot;">May 29: Finance Minister Bishnu Prasad Poudel has said it would be difficult to achieve the economic growth target determined for the current fiscal year due to the COVID-19 pandemic.&nbsp;&nbsp;&nbsp;&nbsp; </span><br />
<span style="font-family:&quot;Arial Unicode MS&quot;">The Finance Minister made such remark while launching the Economic Survey at the Ministry of Finance on Friday afternoon (May 28), according to the state-owned national news agency RSS. On the occasion, he shared that it was a challenge even to achieve revised economic growth target in the current fiscal year.&nbsp;&nbsp;&nbsp;&nbsp; </span><br />
<span style="font-family:&quot;Arial Unicode MS&quot;">The government had set the target of achieving 7 per cent economic growth while launching the budget for the current fiscal year. It had later lowered that figure and estimated economic growth to be 4.01 per cent in view of the coronavirus pandemic.&nbsp;&nbsp;&nbsp;&nbsp; </span><br />
<span style="font-family:&quot;Arial Unicode MS&quot;">According to the Finance Minister, a situation has arisen in which the revised projected target of 4.01 per cent also could not be achieved as prohibitory order has been issued in many places of the country to contain the spread of the second wave of COVID-19.&nbsp;&nbsp;&nbsp;&nbsp; </span><br />
<span style="font-family:&quot;Arial Unicode MS&quot;">He, however, added that most of the macroeconomic indicators were positive even in the adverse situation of the pandemic.&nbsp;&nbsp;&nbsp;&nbsp; </span><br />
<span style="font-family:&quot;Arial Unicode MS&quot;">Finance Minister Poudel said that domestic investment has expanded, the scope of financial access, capital market and insurance has broadened, the overall balance of payment situation was in reserve and the remittance inflow and foreign exchange reserve have increased. .</span></span></span></p>

<p><span style="font-size:16px"><span style="font-family:Cambria"><span style="font-family:&quot;Arial Unicode MS&quot;">Meanwhile, it has been learnt that the government is making preparations to announce the budget for the upcoming fiscal year through an ordinance at 4 PM today afternoon (May 29).</span></span></span></p>
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			'article_date' => '2021-05-29 08:06:09',
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		'Article' => array(
			'id' => '13462',
			'article_category_id' => '1',
			'title' => 'Public Enterprises’ Net Profit, Revenue Decline as Covid-19 Hits their Businesses ',
			'sub_title' => 'However, govt collects Rs 14.9 billion in cash dividend from five profit-making public enterprises, a jump by 48.87 percent from previous fiscal year’s return ',
			'summary' => 'Total net profit of government-owned public enterprises has fallen by 1.21 percent to Rs 48.29 billion in the last fiscal year (2019/20) from Rs 48.89 billion in the previous fiscal year. ',
			'content' => '<p>May 28:&nbsp; Total net profit of government-owned public enterprises has fallen by 1.21 percent to Rs 48.29 billion in the last fiscal year (2019/20) from Rs 48.89 billion in the previous fiscal year.&nbsp;<br />
According to the report of &lsquo;Annual Status Review of Public Enterprises 2021&rsquo; released by the Ministry of Finance on Friday, 24 out of 44 enterprises in existence earned a profit while 18 incurred losses. Other two public enterprises did not make any transaction, according to the report.&nbsp;<br />
Government officials blame the fall in the net profit of public enterprises to a decline in their businesses due to the Covid-19 and the pandemic induced containment measures.&nbsp;<br />
The impact of the Covid-19 is also reflected in their revenues, according to government officials. The review report, commonly known as Yellow Book, shows a 6.91 percent decline in total revenue of all public enterprises to Rs 460.39 billion in the last fiscal year. The combined revenue of public enterprises was Rs 494.59 billion in the previous fiscal year.&nbsp;<br />
With a net profit of Rs 12.91 billion in the last fiscal year, Nepal Oil Corporation stood at the top of the list of five highest profit earners. Other four public enterprises were Nepal Electricity Authority (Rs 11.04 billion), Nepal Doorsanchar Company Ltd (Rs 9.75 billion), Rastriya Banijya Bank Ltd ( Rs 4.38 billion) and Agricultural Development Bank Ltd (Rs 3.33 billion). &nbsp;&nbsp;<br />
The government received a total of Rs 14.9 billion in cash dividend from public enterprises, a jump by 48.87 percent of the return in the previous fiscal year.&nbsp;<br />
Only five public enterprises were able to pay cash dividends to the government. Nepal Doorsanchar Company Ltd was the highest dividend payer to the government with its contribution of 43.82 percent in the total cash dividend. Nepal Oil Corporation&rsquo;s contribution in the total dividend was 36.56 percent.&nbsp;<br />
However, the return on equity ratio stands at only 4.88 percent.&nbsp;<br />
The Yellow Book shows that the government&rsquo;s investment has gone up by 11.74 percent in public enterprises to Rs 519.55 billion. Share or equity investment accounts for 55.52 percent (Rs 288.65 billion) of the total investment. The remaining 44.48 percent (Rs 230.89 billion) of the investment the government has made in these public enterprises is in the form of loans.&nbsp;</p>

<p>As the government has been financing big capital projects including hydropowergeneration and transmission projects, airports and drinking water project through public enterprises, the investment is on the rise, according to the report.&nbsp;<br />
&nbsp;</p>
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			'id' => '13461',
			'article_category_id' => '1',
			'title' => 'Govt Built 1,338 km of New Roads in Current Fiscal Year: Economic Survey Report',
			'sub_title' => 'After dissolution of the House of Representatives, Finance Minister Paudel releases Economic Survey report amid a virtual press meet',
			'summary' => 'The federal government has expanded 1,338 km of new roads that include 284 km of mud roads, 504 km of gravel roads and 550 km of black topped roads in the first eight months of the current fiscal year 2020/21.',
			'content' => '<p>May 28: The federal government has expanded 1,338 km of new roads that include 284 km of mud roads, 504 km of gravel roads and 550 km of black-topped roads in the first eight months of the current fiscal year (FY 2020/21).<br />
Releasing the report of the Economic Survey 2020/21 on Friday, the Ministry of Finance said that the total length of roads has reached 33,528 km as of mid-February including 15,974 km of black-topped roads, 8,582 km gravel roads and 8,972 km of mud roads.<br />
Releasing the survey report amid a virtual ceremony, Minister for Finance Bishnu Prasad Paudel claimed that the government achieved a significant progress in infrastructure development and transportation sector during the review period.<br />
While the government is required to present the Economic Survey at the Federal Parliament, Finance Minister Paudel released the survey report amid a virtual press conference as the House of Representatives was dissolved by President Bidya Devi Bhandari last Friday upon the recommendation of Prime Minister KP Sharma Oli.<br />
According to the survey report, the government built 129 new bridges in the review period compared to 210 bridges constructed in the last fiscal year (FY 2019/20).<br />
Likewise, the Economic Survey shows that access to insurance reached 23.4 percent of the total population by mid-March 2020 compared to 22 percent in the same period last year.<br />
Addressing the virtual press meet, Finance Minister Paudel said that the country&#39;s major economic indicators are positive despite a shrink in economic activities due to Covid-19.<br />
Though the Central Bureau of Statistics (CBS) had made a preliminary estimate of 4.01 percent of economic growth in the current fiscal year, economists say that the GDP growth is likely to remain way below the estimate of CBS which was based on an assumption that the prohibitory period imposed in many parts of the country to contain the second wave of coronavirus would not last more than two weeks. However, the prohibitory period in Kathmandu Valley, which started on April 29, has been extended till June 3.&nbsp;<br />
Finance Minister Paudel pointed to lower average inflation, increase in revenue collection and mobilization of international assistance, improvement in external sector position, stock market rally and progress in human and social development, among other indicators, to paint a rosy picture of the economy.<br />
&nbsp;<br />
&nbsp;</p>
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			'id' => '13460',
			'article_category_id' => '1',
			'title' => 'Nepal’s Development Partners Call for Quick Purchase of Vaccines',
			'sub_title' => '',
			'summary' => 'Nepal’s Covid-19 vaccination drive, which started with a bang, has sputtered to an uneasy close, stoking fears of a rapid rise in infection -- including in rural areas that were largely untouched by the first wave -- and heavy loss of lives.',
			'content' => '<p><span style="font-size:18px"><span style="font-family:Calibri">Rupak D Sharma</span></span></p>

<p><span style="font-size:18px"><span style="font-family:Calibri">Kathmandu, May 28</span></span></p>

<p><span style="font-size:18px"><span style="font-family:Calibri">Nepal&rsquo;s Covid-19 vaccination drive, which started with a bang, has sputtered to an uneasy close, stoking fears of a rapid rise in infection -- including in rural areas that were largely untouched by the first wave -- and heavy loss of lives.</span></span></p>

<p><span style="font-size:18px"><span style="font-family:Calibri">The commitments expressed by various countries as well as development partners, such as the Asian Development Bank (ABD) and the World Bank (WB), to support Nepal to restart its vaccination campaign are consoling. But the nature of coronavirus is such that it spreads rapidly. And delays of even a few days can wreak havoc. Just look at how rapidly the death toll has jumped. It stood at around 3,200 until a month ago and has since more than doubled to over 7,000.</span></span></p>

<p><span style="font-size:18px"><span style="font-family:Calibri">&ldquo;When it comes to vaccines, Nepal cannot and should not wait.... The World Bank and ADB commit to funding Nepal&rsquo;s eligible vaccines that have WHO listing. We will do this today if the contracts between the government and eligible providers are ready. We are ready and on standby,&rdquo; Faris Hadad-Zervos, World Bank Country Director, said in a written statement made available to the New Business Age.</span></span></p>

<p><span style="font-size:18px"><span style="font-family:Calibri">The WB has provided US$75 million and the ADB an additional US$165 million to the government for procurement of safe and effective vaccines. China recently said it is ready to offer 1 million additional doses. Other countries, including the US, the UK and those in the European Union, too have said they would support Nepal to rollout vaccines.</span></span></p>

<p><span style="font-size:18px"><img alt="" src="/app/webroot/userfiles/images/Daily%20new%20cases.jpg" style="height:378px; width:607px" /></span></p>

<p><span style="font-size:18px"><span style="font-family:Calibri">Nepal, which has a population of about 30 million, was among the first in Asia to receive Covid-19 vaccines. It has administered around 2.74 million doses so far, which include vaccines provided in the form of grants by India and China. Early vaccine rollout in Nepal was seen as a feat by many. Then, the drive went into a tailspin. This was not because the country lacked financial resources but because of the choices it made. </span></span></p>

<p><span style="font-size:18px"><span style="font-family:Calibri">Initially, the government was too focused on getting the vaccines for free. Later initiatives were taken to purchase them and one million doses were even bought from India. Then the health minister made statements saying some of the people, who were seeing the vaccination drive as a gravy train, were creating obstructions in the procurement process. This controversy dragged on for some period and by the time it subsided, India, one of the world&rsquo;s largest vaccine suppliers, was in the grips of the second wave of the pandemic. This left India with no choice but to stop exports of vaccines. </span></span></p>

<p><span style="font-size:18px"><span style="font-family:Calibri">The second wave of pandemic that hit India entered Nepal in no time. Soon hospitals started coming under intense pressure and the demand for oxygen and other critical medical equipment such as ventilators surged. The EU and its member states, the US, the United Nations, Switzerland, and the UK, for example, have supplied oxygen equipment, ventilators, personal protective equipment (PPE) and other medical equipment. </span></span></p>

<p><span style="font-size:18px"><span style="font-family:Calibri">&ldquo;We are also quickly mobilising emergency support with an initial 2 million euros towards the UN&rsquo;s COVID appeal. We stand ready to provide further assistance,&rdquo; said Janez Lenarčič, European Commissioner for Crisis Management in a statement provided to the New Business Age, thanking Finland, Spain, France, Germany and Belgium &ldquo;for their quick and generous offers of assistance via the Civil Protection Mechanism&rdquo;.</span></span></p>

<p><span style="font-size:18px"><span style="font-family:Calibri">The development partners have also formed the Health Working Group to respond to Nepal&rsquo;s needs in a coordinated manner through a single window. This is expected to maximize the efficiency in meeting Nepal&rsquo;s Covid-related needs and streamline support. Several development partners have also immediately deployed their technical expertise to inform a fast-tracked response.</span></span></p>

<p><span style="font-size:18px"><span style="font-family:Calibri">&ldquo;The UK has had a technical team working in the Ministry of Health and Population for some years. The team has proved to be invaluable in being able to support the government in shaping the response to COVID-19. They have advised on the Rapid Response Plan, the specifications for equipment, design of treatment facilities, epidemiology, analysis, data and much more,&rdquo; said Lisa Honan, British Embassy&rsquo;s Development Director in a statement provided to the New Business Age.</span></span></p>

<p><span style="font-size:18px"><img alt="" src="/app/webroot/userfiles/images/PCR%20Tests.jpg" style="height:380px; width:609px" /></span></p>

<p><span style="font-size:18px"><span style="font-family:Calibri">The government has formed a high-level body, called Covid-19 Crisis Management Centre (CCMC), to take the lead in managing and coordinating the fight against the pandemic. Although many have supported formation of such a body, its image has been tarnished to some extent because of allegations of corruption levelled against it. Many are expecting the body to operate more professionally and in a transparent manner as the government has recently appointed former Nepal Army Lieutenant General Balananda Sharma as its CEO. But it has been suggested that it rope in more technical and public health experts who can help the body make streamlined, scientific, evidence-based and practical decisions to minimise health, social and economic impacts of the pandemic.</span></span></p>

<p><span style="font-size:18px"><span style="font-family:Calibri">Nepal is facing a host of problems in dealing with the pandemic largely because it has failed to make adequate investment in public health infrastructure. Of course, the healthcare system of even the developed countries came under severe pressure during the pandemic. But, globally, lessons are being learnt and preparations are simultaneously being made to tackle such problems effectively and efficiently. In Nepal too calls are being made to strengthen public health infrastructure by engaging local governments. This should be supplemented by countrywide expansion of universal health insurance scheme, as many of the Covid-19 infected hesitated to visit hospitals because of the costs involved in the medical treatment. Germany, which provides one of the world&rsquo;s best universal health insurance schemes using private and quasi-private agencies, is already supporting Nepal on this front. The country needs an affordable universal health insurance plan to build human capital.</span></span></p>

<p><span style="font-size:18px"><span style="font-family:Calibri">&ldquo;Several years of common effort to build a universal health insurance, together with GIZ and other partners, provide excellent experience and the first building blocks for fulfilling this task,&rdquo; said Ambassador of Germany to Nepal Roland Sch&auml;fer in a statement provided to the New Business Age.</span></span></p>

<p><span style="font-size:18px"><span style="font-family:Calibri">Had mechanisms like universal health insurance and a good public health infrastructure been in place, Nepal perhaps would not have had to impose one of the severest lockdowns in the world to contain the spread of the disease. During the first wave of the pandemic, entire Nepal was shut down for almost four months from March 24, 2020. The restrictions in movement brought the economy to a standstill, as almost all of the enterprises remained closed, supply chains were disrupted and many employees were relieved of their duties or were asked to take sharp pay cuts. This is expected to have made 1.6 million jobless and pushed 1.2 million into the poverty trap.</span></span></p>

<p><span style="font-size:18px"><img alt="" src="/app/webroot/userfiles/images/Positive%20rate%281%29.jpg" style="height:381px; width:608px" /></span></p>

<p><span style="font-size:18px"><span style="font-family:Calibri">Nepal has not imposed a nationwide lockdown to tackle the second wave of pandemic, but almost all the districts have issued prohibitive orders since the end of April, severely restricting movements. Although an official study on the impact of the second round of lockdown has not been conducted, a survey done by the General Federation of Nepalese Trade Unions (GEFONT) in 60 districts showed that 3.65 million people have lost their jobs so far. Effect on livelihood of daily wage earners, persons with disabilities and people from disadvantaged groups with no access to formal social safety net is not immediately known. But impact is likely to be greater this time as infection rate has not gone down even after a month of lockdown and the virus has penetrated rural areas as well which largely remained safe during the first wave of pandemic.</span></span></p>

<p><span style="font-size:18px"><span style="font-family:Calibri">The only government mechanism that can provide a safety net at times like these is the Prime Minister Employment Programme (PMEP), but it has not been able to provide relief to the most vulnerable. Around 187 countries around the world are already providing emergency cash transfers, mainly by expanding existing programmes, according to the World Bank. But Nepal has not been able to make use of its social protection programme, although the PMEP guideline allows distribution of subsistence allowance equivalent to 50 percent of wages of unworked days to registered beneficiaries. </span></span></p>

<p><span style="font-size:18px"><span style="font-family:Calibri">Earlier, the government had introduced the Business Continuity Loan Scheme -- under which credit of up to Rs 100 million was pledged for a minimum of two years at five percent (first year) to six percent (second year) interest -- to save jobs as well as enterprises. But there were very few takers of this credit, as the scheme came with conditions that many businesses could not meet. Many are demanding that a similar scheme with fewer conditions be introduced to aid enterprises that are on the verge of bankruptcy. There are also calls for increasing the size of the refinance fund at the central bank -- and donors have expressed commitment to contribute to it -- to continue providing subsidised funding to priority sectors, particularly small and medium enterprises affected by the pandemic.</span></span></p>

<p><span style="font-size:18px"><span style="font-family:Calibri">&ldquo;Supporting the recovery of enterprises and investment growth is a crucial part of post-Covid recovery,&rdquo; said Swiss Ambassador to Nepal Elisabeth von Capeller in a statement provided to the New Business Age, adding, &ldquo;Switzerland, in partnership with the World Bank, is supporting the Government of Nepal to drive forward much needed reforms and help MSMEs [micro, small and medium enterprises] recover and rebound.&rdquo; </span></span></p>

<p><span style="font-size:18px"><span style="font-family:Calibri">Going forward, Nepal needs to prepare a coherent plan to revive the businesses and the economy, as growth contracted by two percent in the last fiscal year and the central bank has already ruled out the possibility of attaining four percent growth rate projected by the Central Bureau of Statistics for this year. </span></span></p>

<p><span style="font-size:18px"><span style="font-family:Calibri">But for now Nepalis want one thing: vaccine.</span></span></p>

<p><span style="font-size:18px">&ldquo;Vaccination program is the urgent need of the hour and the World Bank and ADB are working closely with the government and all partners in procuring and delivering COVID-19 vaccines safely and effectively. Vaccination not only saves lives and but also mitigates the negative economic impacts of the pandemic by restoring people&rsquo;s ability to work and travel safely,&rdquo; said Rudi Van Dael, Unit Head, Portfolio Management, of the Asian Development Bank Nepal Resident Mission, in a statement provided to the New Business Age.</span></p>

<p><span style="font-size:18px"><span style="font-family:Calibri"><em>(Based on views expressed by Asian Development Bank, British Embassy, European Union, German Embassy, Embassy of Switzerland, and World Bank)</em></span></span></p>

<p>&nbsp;</p>
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			'id' => '13459',
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			'title' => 'Hotel Industry on the Verge of Collapse: HAN',
			'sub_title' => 'Hoteliers urge the government to adopt a policy to support them',
			'summary' => 'May 28: The Hotel Association of Nepal (HAN) has said that the hotel industry will collapse if the government does not adopt policies to support the tourism and hotel industries.',
			'content' => '<p><span style="font-size:16px"><span style="font-family:Times"><span style="font-family:&quot;Times New Roman&quot;">May 28: The Hotel Association of Nepal (HAN) has said that the hotel industry will collapse if the government does not adopt policies to support the tourism and hotel industries. The umbrella body of hotel operators drew the government&#39;s attention stating that Covid-19 has severely affected the hotel industry and needs a government&rsquo;s support and budget for revival.</span></span></span></p>

<p><span style="font-size:16px"><span style="font-family:Times"><span style="font-family:&quot;Times New Roman&quot;">Issuing a press statement on May 27, HAN demanded the government to address various issues that have troubled them. The association has requested the government to address severely affected industries, establish protection funds, provide concession on tax including special concessions, waivers, banking concessions, rebates on electricity tariffs and charges, suspension of financial obligations, in addition to staff and workers welfare scheme and promotion of internal tourism.</span></span></span></p>

<p><span style="font-size:16px"><span style="font-family:Times"><span style="font-family:&quot;Times New Roman&quot;">According to HAN, the hotel industry, hit by the global pandemic, has not been able to get back on track due to the second wave of coronavirus infection. It is mentioned in the press statement that the hoteliers are in a state of great confusion and panic regarding the risk of their hotel business.</span></span></span></p>

<p><span style="font-size:16px"><span style="font-family:Times"><span style="font-family:&quot;Times New Roman&quot;">Shreejana Rana, president of HAN, said that the employment of millions of individuals dependent on the hotel and tourism business is at stake.&nbsp;</span></span></span></p>

<p><span style="font-size:16px"><span style="font-family:Times"><span style="font-family:&quot;Times New Roman&quot;">Likewise, the press statement says that many hoteliers have been compelled to flee due to the current situation. HAN said that the tourism and hotel industry is at risk of collapsing.</span></span></span></p>

<p><span style="font-size:16px"><span style="font-family:Times"><span style="font-family:&quot;Times New Roman&quot;">The statement further says it would take time for tourism to return to normalcy even after the coronavirus pandemic subsides. HAN has also demanded the government to establish a business protection fund for the revival of the hotel industry and an employment protection fund for its dependent employees and workers.</span></span></span></p>

<p><span style="font-size:16px"><span style="font-family:Times"><span style="font-family:&quot;Times New Roman&quot;">Similarly, HAN has demanded the government to provide concession in tax for 3 years along with 50 percent exemption in value-added tax till the business returns to normalcy. HAN also stressed the need to waive direct taxes levied by the federal, provincial, and local governments on the hotel sector for the next three years. The association also has asked for a 50 percent discount on electricity tariffs for the next two years.&nbsp;</span></span></span></p>

<p><span style="font-size:16px"><span style="font-family:Times"><span style="font-family:&quot;Times New Roman&quot;">Likewise, the association also has demanded the government introduce policies to promote domestic tourism.</span></span></span></p>

<p>&nbsp;</p>
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		'Article' => array(
			'id' => '13458',
			'article_category_id' => '1',
			'title' => 'Remittance Companies Urge Central Bank to Facilitate them in Availing their Services',
			'sub_title' => '',
			'summary' => 'May 28: With the extension of prohibitory order, remittance companies have been facing problems in acquiring passes for transportation. ',
			'content' => '<p><span style="font-size:16px"><span style="font-family:Times"><span style="font-family:&quot;Times New Roman&quot;">May 28</span>: <span style="font-family:&quot;Times New Roman&quot;">With the extension of prohibitory order, remittance companies have been facing problems in acquiring passes for transportation. This has in turn affected not only their business but also people from availing their service. Thus, remittance companies have requested Nepal Rastra Bank to facilitate in remittance payment.</span></span></span></p>

<p><span style="font-size:16px"><span style="font-family:Times"><span style="font-family:&quot;Times New Roman&quot;">The Umbrella Organization of Nepal Remitters Association has submitted a written request to the District Administration Office to arrange transportation passes for at least a limited number of employees.</span></span></span></p>

<p><span style="font-size:16px"><span style="font-family:Times"><span style="font-family:&quot;Times New Roman&quot;">The association submitted such a request after the government&rsquo;s decision to extend the prohibitory period and enforce it strictly.</span></span></span></p>

<p><span style="font-size:16px"><span style="font-family:Times"><span style="font-family:&quot;Times New Roman&quot;">Officials at the Foreign Exchange Department of Nepal Rastra Bank stated that they have verbally requested the Chief District Officers to provide at least one or two passes per company since the central bank does not intend to halt remittance service.</span></span></span></p>

<p><span style="font-size:16px"><span style="font-family:Times"><span style="font-family:&quot;Times New Roman&quot;">According to Guru Prasad Poudel, the director of the department, the District Administration Offices have been requested to facilitate transportation to remittance companies for giving continuity to their services.</span></span></span></p>

<p><span style="font-size:16px"><span style="font-family:Times"><span style="font-family:&quot;Times New Roman&quot;">Due to high infection of Covid-19, Nepal Rastra Bank had directed remittance companies to carry out their operation with a handful of employees. On May 2</span>, the companies were directed to work with maximum safety and vigilance. The Foreign Exchange Department of the central bank directed remittance companies to work with participation of limited number of employees.</span></span></p>

<p><span style="font-size:16px"><span style="font-family:Times"><span style="font-family:&quot;Times New Roman&quot;">Till date, 51 remittance companies have received permission from Nepal Rastra Bank to continue their operation. Similarly, 10 payment system operators and 28 payment service providers are given permission to operate.</span></span></span></p>

<p>&nbsp;</p>
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			'title' => 'Former Finance Ministers Suggest Government not to Introduce Full Budget ',
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			'summary' => 'May 28: Former finance ministers have suggested the government not to introduce full budget through ordinance as there is no majority government at present.',
			'content' => '<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Times New Roman&quot;">May 28: Former finance ministers have suggested the government not to introduce full budget through ordinance as there is no majority government at present.</span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Times New Roman&quot;">They were of the view that a caretaker government should not announce full-fledged budget while the issue of restoration of parliament is sub judice in the Supreme Court.</span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Times New Roman&quot;">They made such appeal during a meeting of the former finance ministers&rsquo; forum. The ex-ministers also discussed about the budget for the upcoming&nbsp;Fiscal Year (FY 2078/79) and the impact of covid-19 on the economy.</span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Times New Roman&quot;">Issuing a statement after the meeting, former finance ministers Prakash Chandra Lohani, Ram Sharan Mahat, Krishna Bahadur Mahara, Surenda Paney and Barshaman Pun said, &ldquo;According to the international practice, it is not appropriate to bring a full budget in such a situation. If a budget needs to be brought through ordinance in such times, it is suggested to bring a provisional budget with regular expenditure only.&rdquo;</span></span></span></span></p>

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			'title' => 'Stakeholders' Reaction to Budget',
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			'summary' => 'May 30: The budget unveiled by the government on May 29 has drawn mixed reaction from various stakeholders.',
			'content' => '<p><span style="font-size:16px"><span style="font-family:Cambria"><span style="font-family:Times">May 30: The budget unveiled by the government on May 29 has drawn mixed reaction from various stakeholders. While some have hailed the government for introducing investment friendly budget and prioritizing vaccination drive against Covid-19, others have criticized the government for introducing a full-fledged budget through ordinance at a time when the parliament is dissolved.</span></span></span></p>

<p><span style="font-size:16px"><span style="font-family:Cambria"><strong><span style="font-family:Times">Burden of loans on future generation</span></strong></span></span></p>

<p><span style="font-size:16px"><span style="font-family:Cambria"><span style="font-family:Times">Dr Ramsharan Mahat, </span></span></span></p>

<p><span style="font-size:16px"><span style="font-family:Cambria"><span style="font-family:Times">Former Finance Minister</span></span></span></p>

<p><span style="font-size:16px"><span style="font-family:Cambria"><span style="font-family:Times">Overall the government has brought budget going beyond its jurisdiction. The caretaker government is not allowed to introduce a full budget program. The budget should also be a temporary one. But the government has introduced budget going against the spirit of constitution. Apart from that, the budget is populist in nature. It is very challenging to implement provisions introduced in the budget.</span></span></span></p>

<p><span style="font-size:16px"><span style="font-family:Cambria"><span style="font-family:Times">On top of that, the size of the budget at this time of crisis is too large. One third of the budget financing will be arranged through foreign loans. This will add burden of loans on future generation. I don&#39;t have objection on government&#39;s priority sector but overall the budget is not satisfactory.</span></span></span></p>

<p><span style="font-size:16px"><span style="font-family:Cambria"><strong><span style="font-family:Times">Budget has been introduced to cater to the present needs</span></strong></span></span></p>

<p><span style="font-size:16px"><span style="font-family:Cambria"><span style="font-family:Times">Dilliraj Khanal</span></span></span></p>

<p><span style="font-size:16px"><span style="font-family:Cambria"><span style="font-family:Times">Former member of the National Planning commission </span></span></span></p>

<p><span style="font-size:16px"><span style="font-family:Cambria"><span style="font-family:Times">The budget has been introduced proritizing the present COVID-19 crisis which is very commendable. Along with that, relief packages, tax waiver, increment on social security allowance has been introduced. The program of social security has been highly prioritized.</span></span></span></p>

<p><span style="font-size:16px"><span style="font-family:Cambria"><span style="font-family:Times">The budget has followed the same discourse as that of the world and has been criticised as a populist one. The aim of inoculating the people with COVID-19 vaccine is not a populist step but the need of the hour. However, it remains to be seen if the programme can be made effective and accountable.</span></span></span></p>

<p><span style="font-size:16px"><span style="font-family:Cambria"><strong><span style="font-family:Helvetica">Budget for upcoming fiscal year is way better than we had expected it to be</span></strong></span></span></p>

<p><span style="font-size:16px"><span style="font-family:Cambria"><span style="font-family:Helvetica">Shekhar Golchha, </span></span></span></p>

<p><span style="font-size:16px"><span style="font-family:Cambria"><span style="font-family:Helvetica">FNCCI president </span></span></span></p>

<p><span style="font-size:16px"><span style="font-family:Cambria"><span style="font-family:Helvetica">We are yet to do a detailed study of the budget presented for the upcoming fiscal year. I think the budget is friendly towards private sector as well as investment-friendly.</span></span></span></p>

<p><span style="font-size:16px"><span style="font-family:Cambria"><span style="font-family:Helvetica">Demands that we were raising for long have now been finally addressed. The budget program is way better than we had expected it to be. Tax rates applied on various businesses have gone down. The government has provided VAT rebate on diesel and increased the facilities introduced through monetary policy in the last fiscal year.</span></span></span></p>

<p><span style="font-size:16px"><span style="font-family:Cambria"><span style="font-family:Helvetica">The new issue of billing charges is the most encouraging one. If this is implemented, any power producer can directly sell it to the industry. This will bring a huge change in the industrial sector. All in all,the &nbsp;budget is private sector and investment-friendly.</span></span></span></p>

<p><span style="font-size:12pt"><span style="font-family:Cambria"><strong><span style="font-family:&quot;Times New Roman&quot;">Budget implementation is difficult</span></strong></span></span></p>

<p><span style="font-size:12pt"><span style="font-family:Cambria"><span style="font-family:&quot;Times New Roman&quot;">Rajendra Malla</span></span></span></p>

<p><span style="font-size:12pt"><span style="font-family:Cambria"><span style="font-family:&quot;Times New Roman&quot;">President, Nepal Chamber of Commerce</span></span></span></p>

<p><span style="font-size:12pt"><span style="font-family:Cambria"><span style="font-family:&quot;Times New Roman&quot;">While the budget of Rs 1,647.57 billion has been announced, the goal is to collect Rs 1024 billion from internal revenue. The goal seems to be very difficult to achieve. It could have been done under normal circumstances, but we are in a chaotic situation due to this pandemic. The goal is challenging in itself. Industries and businesses are in a state of collapse at present. Thus, the implementation of the budget is difficult. Nevertheless, suggestions from the private sector are included in the budget. DPR study of metro rail, temple construction and other issues are also included in the budget this year. It would not have made any difference even if it was included after one or two years. Attention should have been paid to the current priorities. Despite this, the overall budget is still positive. However, due to the current pandemic and political crisis, the implementation process is complicated and we are concerned about this.</span></span></span></p>

<p><span style="font-size:12pt"><span style="font-family:Cambria"><strong><span style="font-family:&quot;Times New Roman&quot;">Implementation should be done in collaboration with private sector</span></strong></span></span></p>

<p><span style="font-size:12pt"><span style="font-family:Cambria"><span style="font-family:&quot;Times New Roman&quot;">Satish Kumar Moore</span></span></span></p>

<p><span style="font-size:12pt"><span style="font-family:Cambria"><span style="font-family:&quot;Times New Roman&quot;">President, Confederation of Nepalese Industries</span></span></span></p>

<p><span style="font-size:12pt"><span style="font-family:Cambria"><span style="font-family:&quot;Times New Roman&quot;">Although some people were saying that the full budget should not be brought in such a situation, we were demanding that a full budget should be brought for policy making. Now, the full budget has been introduced where suggestions from the private sector have been addressed. The issue of billing charges has been raised. The budget is brought in a way that promotes infrastructure development, vaccine management and startup industry. We have found that the budget supports our important campaign of Make in Nepal. But its implementation is very challenging. So, we will also take initiative to create an environment of implementation in collaboration with the private sector.</span></span></span></p>

<p><span style="font-size:12pt"><span style="font-family:Cambria"><strong><span style="font-family:&quot;Times New Roman&quot;">Best budget in history</span></strong></span></span></p>

<p><span style="font-size:12pt"><span style="font-family:Cambria"><span style="font-family:&quot;Times New Roman&quot;">Krishna Dulal</span></span></span></p>

<p><span style="font-size:12pt"><span style="font-family:Cambria"><span style="font-family:&quot;Times New Roman&quot;">President, NADA </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 budget of the Fiscal Year 2078/79 has announced full exemption of excise duty on the import of electric vehicles. Similarly, renewal fee will be waived for five years if petroleum-powered vehicles are converted into electric vehicles, diesel-powered light vehicles will be replaced with electric vehicles by 2088, electric vehicles will be operated and assembled and production will be initiated, customs exemption will be given. It has been announced to give 90 percent income tax exemption to traders having transactions of up to Rs 2 million and 50 percent income tax exemption to traders having transactions of up to Rs 10 million. Similarly, that tax payment certificates will be automatically provided after submitting tax details, while the government has announced to build 500 charging stations, provide income tax exemption and loan to startup business for 5 years. So, overall the budget is encouraging. We consider it the best budget in history.&nbsp;</span></span></span></p>

<p><span style="font-size:12pt"><span style="font-family:Cambria"><strong><span style="font-family:&quot;Times New Roman&quot;">The goal of achieving a economic growth of up to 6.5 percent is challenging</span></strong></span></span></p>

<p><span style="font-size:12pt"><span style="font-family:Cambria"><span style="font-family:&quot;Times New Roman&quot;">Bhuvan Kumar Dahal</span></span></span></p>

<p><span style="font-size:12pt"><span style="font-family:Cambria"><span style="font-family:&quot;Times New Roman&quot;">President, Nepal Bankers Association</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 budget for the upcoming fiscal year is encouraging. But implementation is needed. It is necessary to submit the progress report by implementing the programmes addressed by the budget. At the moment, the goal of economic growth of up to 6.5 percent without controlling the pandemic is challenging. This is possible only after the Covid-19 pandemic is controlled, otherwise, it seems difficult. The goal can be achieved by bringing vaccines.</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 programmes related to banks and financial institutions introduced in the budget are commendable. Digital banking is encouraged for the banking business. It was necessary. The budget for infrastructure is well allocated. But looking at the past, there is a lack of coordination in development expenditure because such spending seems to be slow. It is important to implement the budget and address it in time.</span></span></span></p>

<p><span style="font-size:12pt"><span style="font-family:Cambria"><strong><span style="font-family:&quot;Times New Roman&quot;">The issue of the extension was not enough</span></strong></span></span></p>

<p><span style="font-size:12pt"><span style="font-family:Cambria"><span style="font-family:&quot;Times New Roman&quot;">Ravi Singh</span></span></span></p>

<p><span style="font-size:12pt"><span style="font-family:Cambria"><span style="font-family:&quot;Times New Roman&quot;">Chairman,</span> <span style="font-family:&quot;Times New Roman&quot;">Federation of Contractors Association of Nepal </span></span></span></p>

<p><span style="font-size:12pt"><span style="font-family:Cambria"><span style="font-family:&quot;Times New Roman&quot;">We have taken the budget positively. However, the provision regarding extension of projects is not sufficient. The tax rebates so far are also good. The amount allocated for hospitals is not enough. However,&nbsp;the projects should be planned to be fully paid within the project period while allocating the budget, but this preparation is still not seen. The budget seems to be focused on the election. Since it was brought to please everyone, there is no reliable basis on its implementation part.</span></span></span></p>

<p><span style="font-size:12pt"><span style="font-family:Cambria"><strong><span style="font-family:&quot;Times New Roman&quot;">Addresses the demands of tourism entrepreneurs</span></strong></span></span></p>

<p><span style="font-size:12pt"><span style="font-family:Cambria"><span style="font-family:&quot;Times New Roman&quot;">Binayak Shah&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;">Vice President</span><span style="font-size:10.0pt"><span style="font-family:Times">, </span></span><span style="font-family:&quot;Times New Roman&quot;">Hotel Association of Nepal</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 budget has announced a separate relief for tourism and is positive. We had anticipated emergency plans in tourism. It has come sporadically. However, many things have been addressed as demanded by the entrepreneurs. Decisions such as not charging one month&rsquo;s visa fee to foreigners and giving 10 days of tourism leave to promote domestic tourism are positive aspects. It is better to consider the hotel and tourism industry as a productive sector. Even though the budget is good, it remains to be seen how it will be implemented. It is also important to have supervision over whether it has been implemented or not.</span></span></span></p>

<p><span style="font-size:12pt"><span style="font-family:Cambria"><strong><span style="font-family:&quot;Times New Roman&quot;">There is no reason to be excited</span></strong></span></span></p>

<p><span style="font-size:12pt"><span style="font-family:Cambria"><span style="font-family:&quot;Times New Roman&quot;">Ganesh Prasad Lath</span></span></span></p>

<p><span style="font-size:12pt"><span style="font-family:Cambria"><span style="font-family:&quot;Times New Roman&quot;">Representative, FNCCI</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 budget has tried to satisfy everyone. Still, there are no grounds to be excited over it. It sounds good to hear about vaccinations and ICU as well as ventilators in hospitals. The topic of health infrastructures was included in the budget of the current fiscal year as well. Oxygen plants in hospitals of hundred beds are something related to regulation, the government has no role in investment in this issue. There aren&rsquo;t any special points in the budget that one can get excited about.</span></span></span></p>

<p><span style="font-size:12pt"><span style="font-family:Cambria"><strong><span style="font-family:&quot;Times New Roman&quot;">There are doubts in budget implementation</span></strong></span></span></p>

<p><span style="font-size:12pt"><span style="font-family:Cambria"><span style="font-family:&quot;Times New Roman&quot;">Rajendra Raut</span></span></span></p>

<p><span style="font-size:12pt"><span style="font-family:Cambria"><span style="font-family:&quot;Times New Roman&quot;">Central Member, FNCCI</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 size of the budget this year is larger in comparison to that of last year. The aim of revenue collection this year is greater as well. The success or failure of the budget would be decided by the implementation part. In the present crisis of pandemic, the allocation of 1 trillion budget for Covid-19 prevention is quite welcoming. Only 60 percent of the budget for infrastructure development was spent last year. Government has allocated budget in the projects that do not make complete use of the allocated budget. The implementation of this budget is doubtful.&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;">The budget allocated to reduce trade deficit, to reduce consumption of petroleum products, to encourage production of electric vehicles are praiseworthy. It is a good thing to introduce the programme to give tax discounts on electrical equipment in order to increase the consumption of produced electricity. But it would have been better if there was a provision to grant tax discounts on manufactured electric vehicles. The budget is lacking in some manner in order to make the agriculture sector self-reliant.</span></span></span></p>

<p><span style="font-size:12pt"><span style="font-family:Cambria"><strong><span style="font-family:&quot;Times New Roman&quot;">The budget is worth welcoming</span></strong></span></span></p>

<p><span style="font-size:12pt"><span style="font-family:Cambria"><span style="font-family:&quot;Times New Roman&quot;">Bhim Ghimire</span></span></span></p>

<p><span style="font-size:12pt"><span style="font-family:Cambria"><span style="font-family:&quot;Times New Roman&quot;">Province 1 President, Confederation of Nepalese Industries</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 approach to allocate budget prioritizing the health sector is a positive indication. The budget has tried to be inclusive of young entrepreneurs and it is a very good thing. I am very pleased as our demand of making the 650 bighas of land in Amduwa of Sunsari into an economic zone has been addressed which we have been demanding time and again. Similarly, we have also been demanding a state-level industrial exhibition for Province 1. </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&#39;s plan to shift industries of Kathmandu to Hetauda and the services provided for that matter are pretty exciting. To discourage import, antidumping would be implemented. The project by the government to encourage export of cement, slippers and shoes are praiseworthy.</span></span></span></p>

<p>&nbsp;</p>

<p>&nbsp;</p>
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			'summary' => 'Minister for Finance Bishnu Prasad Paudel has introduced the budget for the upcoming fiscal year (2021/22) with a plan to spend a total of Rs 1,647.57 billion. ',
			'content' => '<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt">May 29: Minister for Finance Bishnu Prasad Paudel has introduced the budget for the upcoming fiscal year (FY 2021/22) with a plan to spend a total of Rs 1,647.57 billion.&nbsp;<br />
Out of the total budget, Rs 678.61 billion has been allocated for recurrent expenditures, Rs 374.26 billion for capital expenditure, Rs 386.71 billion for fiscal transfer and Rs 207.97 billion for financing.&nbsp;<img alt="" src="/app/webroot/userfiles/images/7e8d4e61-13b4-4390-8130-31876b20a030%20-%20Copy%281%29.jpg" style="float:right; height:358px; width:500px" /><br />
To pay for its spending, the government has announced that it will collect Rs 1,024.9 billion in revenues and Rs 63.37 billion in foreign grants. For the deficit financing, Finance Minister Poudel said that the government will mobilize Rs 309.29 billion in foreign loans and Rs 250 billion in domestic borrowing. &nbsp;</span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt">The total spending amount is nearly 11.72 percent higher than the government&rsquo;s budget of Rs 1,474.64 billion for the current fiscal year (FY 2020/21).&nbsp;<br />
The spending includes a significant portion of allocation on healthcare, vaccination and other measures to combat Covid-19. Similarly, Finance Minister Paudel also announced a significant raise on social security allowances. </span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt">The budget was issued on May 29 through ordinance as the House of Representatives is currently dissolved.</span></span></span></p>
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		'Article' => array(
			'id' => '13470',
			'article_category_id' => '1',
			'title' => 'Government to Launch MDMS Software to Discourage Illegal Import of Smartphones',
			'sub_title' => '',
			'summary' => 'May 29: The government is set to launch the Mobile Device Management System. ',
			'content' => '<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:12.0pt"><span style="font-family:Arial">May 29: The government is set to launch the Mobile Device Management System (MDMS), &nbsp;a </span></span><span style="font-size:12.0pt"><span style="font-family:Arial">software</span></span><span style="font-size:12.0pt"><span style="font-family:Arial"> that allows IT administrators to control, secure and enforce policies on smartphones, tablets and other endpoints, from the upcoming fiscal year (July 16) </span></span><span style="font-size:12.0pt"><span style="font-family:Arial">&nbsp;in a bid to control the illegal import of mobile phones. </span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:12.0pt"><span style="font-family:Arial">Finance Minister Bishunu Poudel made this announcement while unveiling the budget for the upcoming fiscal year (FY 2021/22) on Saturday, May 29.</span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:12.0pt"><span style="font-family:Arial">MDMS&nbsp;will track mobile phones based on the IMEI number of those devices. The government is set to introduce the system to control the grey market of mobile phones and bring all the mobile phones under legal registration.&nbsp;</span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:12.0pt"><span style="font-family:Arial">According to Nepal Telecommunications Authority (NTA), it has allocated its own funds for the cost of designing, developing and operation the MDMS software.&nbsp;</span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:12.0pt"><span style="font-family:Arial">The government has also announced plans to extend broadband Internet service to all local units by utilizing &nbsp;the Rural Telecommunication Development Fund (RTDF). It has also announced to extend 4G service to all local units and provide free broadband service to all community schools in the next two years.&nbsp;</span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:12.0pt"><span style="font-family:Arial">While presenting the budget, Minister Poudel also made the announcement to complete the construction of the Information Superhighway within two years. Optical fiber projects that are being built in seven provinces form the backbone of the information highway. The state-owned telecom service provider, Nepal Telecom, is laying optical fiber in provinces 1, 2, Bagmati Province, Karnali Province and Sudurpaschim Province. In provinces 4 and 5, United Telecom Limited had received the contract but couldn&#39;t make any headway in the project. The case is now pending in the court as NTA refused to extend the deadline of the project for UTL.&nbsp;</span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:12.0pt"><span style="font-family:Arial">Finance Minister Poudel also announced to launch NTV World to broadcast the contents of the state-owned television channel all over the world.</span></span></span></span></p>

<p>&nbsp;</p>
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			'id' => '13468',
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			'title' => 'Government Allocates Rs 26.75 Billion to Purchase anti-COVID-19 Vaccines ',
			'sub_title' => '',
			'summary' => 'May 29: The government has allocated Rs 26.75 billion in the budget of Fiscal Year 2021/22 for controlling COVID-19 pandemic.    ',
			'content' => '<p><span style="font-size:16px"><span style="font-family:Cambria"><span style="font-family:&quot;Arial Unicode MS&quot;">May 29: The government has allocated Rs 26.75 billion in the budget of Fiscal Year 2021/22 for controlling COVID-19 pandemic.&nbsp;&nbsp;&nbsp;&nbsp; </span><br />
<span style="font-family:&quot;Arial Unicode MS&quot;">While presenting the budget on Saturday (May 29), Finance Minister Bishnu Prasad Poudel said that Rs 26.75 billion has been allocated in the budget to purchase the anti-COVID-19 vaccines to be administered to all citizens free-of-cost.&nbsp;&nbsp;&nbsp;&nbsp; </span><br />
<span style="font-family:&quot;Arial Unicode MS&quot;">Minister Poudel added that Rs 37.57 billion was earmarked to curb the pandemic while Rs 5.60 billion has been allocated to purchase the medicines and equipment in view of controlling the pandemic.&nbsp;&nbsp;&nbsp;&nbsp; </span><br />
<span style="font-family:&quot;Arial Unicode MS&quot;">The Finance Minister further shared that the customs duty and taxes were reduced in importing the medical equipment and devices, the state-owned national news agency RSS reported. </span></span></span></p>

<p><span style="font-size:16px"><span style="font-family:Cambria"><span style="font-family:&quot;Arial Unicode MS&quot;">Meanwhile, Minister Poudel while presenting the budget said that the government has made arrangements for call centres, mobile service, telemedicine and psychological counseling to aide Covid-19 infected patients. </span><br />
&nbsp;</span></span></p>
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		'Article' => array(
			'id' => '13467',
			'article_category_id' => '1',
			'title' => 'Social Security Allowance for Senior Citizens Increased to Rs 4,000 Per Month',
			'sub_title' => '',
			'summary' => 'May 29: The government has increased the social security allowance for senior citizens by Rs 1,000 effective from Fiscal Year 2078/79. ',
			'content' => '<p><span style="font-size:12pt"><span style="font-family:Cambria"><span style="font-family:&quot;Times New Roman&quot;">May 29: The government has increased the social security allowance for senior citizens by Rs 1,000 effective from Fiscal Year 2078/79. With this, the social security allowance for senior citizens who are above 70 years of age has reached Rs 4,000 per month. In FY 2076/77, former finance minister Dr Yuba Raj Khatiwada had increased the senior citizen allowance to Rs 3,000. The increased allowance of senior citizens will come into effect from July 16, 2021.&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;">Presenting the budget for the upcoming fiscal year at Singha Durbar on Saturday, Finance Minister Bishnu Prasad Poudel announced that all types of social security allowances have been increased by 33 percent. He said that Rs 100 billion has been allocated for social security allowance. For the current fiscal year, Rs 67.50 billion was allocated for social security allowance.</span></span></span></p>

<p><span style="font-size:12pt"><span style="font-family:Cambria"><span style="font-family:&quot;Times New Roman&quot;">Senior citizen, Dalits, single women, disabled, terminally ill person, people from indigenous community, people living below poverty line, children will be provided social security allowance.</span></span></span></p>

<p><span style="font-size:12pt"><span style="font-family:Cambria"><span style="font-family:&quot;Times New Roman&quot;">Similarly, the government has announced free medical treatment for senior citizens.&nbsp;</span></span></span></p>

<p><br />
&nbsp;</p>
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		'Article' => array(
			'id' => '13466',
			'article_category_id' => '1',
			'title' => 'Government Lists Tourism Industry in Productive Sector ',
			'sub_title' => '',
			'summary' => 'May 29: The government has categorized the hotel industry and tourism business as productive sector.',
			'content' => '<p><span style="font-size:18px"><span style="font-family:Cambria"><span style="font-family:&quot;Times New Roman&quot;">May 29: The government has categorized the hotel industry and tourism business as productive sector.</span></span></span></p>

<p><span style="font-size:18px"><span style="font-family:Cambria"><span style="font-family:&quot;Times New Roman&quot;">Minister for Finance Bishnu Poudel made such announcement while presenting the budget for the upcoming fiscal year on Saturday, May 29.</span></span></span></p>

<p><span style="font-size:18px"><span style="font-family:Cambria"><span style="font-family:&quot;Times New Roman&quot;">The government has listed tourism sector as productive sector as per the demand of the tourism entrepreneurs and hoteliers of the country. Tourism entrepreneurs had been pressing the government to include tourism industry in the productive sector since a long time.&nbsp;</span></span></span></p>

<p><span style="font-size:18px"><span style="font-family:Cambria"><span style="font-family:&quot;Times New Roman&quot;">The government has announced relief packages to provide concessional loans, tax exemption, and discounts on various types of charges to tourism and aviation businesses.</span></span></span></p>

<p><span style="font-size:18px"><span style="font-family:Cambria"><span style="font-family:&quot;Times New Roman&quot;">Last year, the government while announcing special packages for the productive sector as Covid-19 relief in the previous budget had excluded tourism and hotel business from the list.&nbsp;</span></span></span></p>

<p><span style="font-size:18px"><span style="font-family:Cambria"><span style="font-family:&quot;Times New Roman&quot;">Meanwhile, the new budget has announced a 30 percent waiver on electricity tarriffs for sectors with consumption of electricity above 200 units, which includes hotel industry.&nbsp;</span></span></span></p>

<p><span style="font-size:18px"><span style="font-family:Cambria"><span style="font-family:&quot;Times New Roman&quot;">Likewise, the government has waived the electricity demand fee of the hotel industry in the upcoming annual budget. The government will also provide the pledged relief packages to hotels that were used as quarantine and isolation facilities.&nbsp;</span></span></span></p>

<p><span style="font-size:18px"><span style="font-family:Cambria"><span style="font-family:&quot;Times New Roman&quot;">The budget also provides a waiver on renewal fees for tourism-related industries. &nbsp; </span></span></span></p>

<p><span style="font-size:18px"><span style="font-family:Cambria"><span style="font-family:&quot;Times New Roman&quot;">The government has also decided to provide 50 percent waiver on rents and give continuity to the concessional loan of 5 percent to support the tourism industry along with other productive sectors against Covid-19.&nbsp;</span></span></span></p>

<p><span style="font-size:18px"><span style="font-family:Cambria"><span style="font-family:&quot;Times New Roman&quot;">Likewise, Minister Poudel also announced to provide 10 days&rsquo; salary to a government official for promoting domestic tourism. </span></span></span></p>

<p><span style="font-size:18px"><span style="font-family:Cambria"><span style="font-family:&quot;Times New Roman&quot;">&ldquo;We will also encourage the private sectors to provide similar packages to their employees,&rdquo; the Minister added.</span></span></span></p>

<p><span style="font-size:18px"><span style="font-family:Cambria"><span style="font-family:&quot;Times New Roman&quot;">The government has announced plans to develop and promote Nepal as an attractive and safe tourism destination.&nbsp;&nbsp;&nbsp;</span></span></span></p>

<p><span style="font-size:18px"><span style="font-family:Cambria"><span style="font-family:&quot;Times New Roman&quot;">The government has allocated Rs 590 million for the development of tourism-related infrastructure in Janakpurdham and other destinations.&nbsp;</span></span></span></p>

<p><span style="font-size:18px"><span style="font-family:Cambria"><span style="font-family:&quot;Times New Roman&quot;">The government has also allocated budget to continue infrastructure development in Muktinath and Kagbeni and to build new hiking trails in Khaptad, Rara, Lower Dolpo, Simikot. </span></span></span></p>

<p><span style="font-size:18px"><span style="font-family:Cambria"><span style="font-family:&quot;Times New Roman&quot;">In addition, the government &nbsp;has plans to develop a cycling lane along the Phewa Lake in Pokhara and various trekking trails across the country.&nbsp;</span></span></span></p>

<p><span style="font-size:18px"><span style="font-family:Cambria"><span style="font-family:&quot;Times New Roman&quot;">Likewise, the government has allocated budget for establishing an integrated GPS system for rescuing and tracking tourists.&nbsp;</span></span></span></p>

<p><span style="font-size:18px"><span style="font-family:Cambria"><span style="font-family:&quot;Times New Roman&quot;">The government has announced plans to introduce special packages to promote adventure, agro, gastro, and religious tourism activities. Similarly, the government has announced plans to conduct a physical study for a sports project aiming to promote sports tourism.&nbsp;&nbsp;</span></span></span></p>

<p><span style="font-size:18px"><span style="font-family:Cambria"><span style="font-family:&quot;Times New Roman&quot;">The government has allocated Rs 27.47 billion for the development of tourism infrastructure and promotional activities.&nbsp;&nbsp;</span></span></span></p>

<p>&nbsp;</p>
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		'Article' => array(
			'id' => '13465',
			'article_category_id' => '1',
			'title' => '68th Anniversary of Mt Everest’s First Ascent: A Glorious Past and a Bleak Future',
			'sub_title' => '',
			'summary' => 'It has become one of the most crucial tasks to save Mt Everest and the other mountains of Nepal from the adverse impacts of global warming.',
			'content' => '<p><span style="font-size:22px"><em>It has become one of the most crucial tasks to save Mt Everest and the other mountains of Nepal from the adverse impacts of global warming.</em></span></p>

<p><img alt="" src="/app/webroot/userfiles/images/1234%281%29.jpg" style="height:169px; width:200px" /></p>

<p>Last year some mountain climbers asked me to participate in the International Mt Everest (Sagarmatha) Day, a day celebrated since 2007 to commemorate the first ascent of Mt Everest by Edmund Hilary and Tenzing Norgay on 29 May, 1953.&nbsp; Upon receiving the invitation card, I was surprised to see my name as &lsquo;Mt. Everest&rsquo; (Sagarmatha) whereas my local Tibetan name is &lsquo;Chomolungma&rsquo; which means &lsquo;Goddess Mother of the World&rsquo;. I asked them to explain the meaning of Mt. Everest (Sagarmatha). They told me, &quot;You were named after British surveyor and geographer Sir George Everest in 1865.&quot; Then I asked them, &quot;Ok, then what is the meaning of Sagarmatha and who gave me this name?&quot; They said, &quot;Sagarmatha means the Peak of Heaven and the name was given to you by the Nepali historian Baburam Acharya in 1956.&quot;</p>

<p>On May 29, a special programme was organised in the presence of different mountain culture groups, mountaineers and local people. I was surprised to see representatives of mountains above 8,000 metres and the seven highest peaks of the world at the programme. I was looking for Nawang Gombu Sherpa- the first mountaineer to conquer me twice, a record which he set in 1965. At that time, I heard someone calling my name &lsquo;Everest, Everest&rsquo;, which was familiar to me. I turned around to see the person was Sir Edmund Hilary. I greeted him and said, &quot;Hello Edmund! How are you? Are you alone or with Tenzin?&rdquo; He replied, &quot;Yes, he is here and is busy meeting some of his native friends,&quot; and asked me if I met the Japanese mountaineer Junko Tabei, the first female to climb the world&rsquo;s highest peak on May 16, 1975.</p>

<p>Then, Edmund took me to Pema Sherpa who was found with Tabei and Pasang Lhamu Sherpa. I had a strong desire to meet Pema because of her achievement as the first Nepali woman to climb the peak from the south and north sides on 29 May 2000 and 16 May 2002, respectively. Pasang Lhamu Sherpa is the first Nepali woman to wave the national flag on the top of the peak on 23 April 1993. They were together with the oldest female climber from Japan Tamae Watanabe who was 73 years old when she climbed the peak on May 19, 2012.</p>

<p><img alt="" src="/app/webroot/userfiles/images/saa.jpg" style="height:510px; width:800px" /></p>

<p>There I met Churim Sherpa, the first woman to conquer me twice during a single season -- on 12 May and May 19 of 2012. I noticed one of the oldest climbers Yūichirō Miura from Japan who was 80 years 224 days old when he reached the Everest summit on May 23, 2013. He was the first mountaineer to ski down 2,000 metres of Mt Everest on May 6, 1970. Miura beat the record of oldest Nepali oldest climber Min Bahadur Sherchan, who was 76 years 11 month 6 days when he climbed the peak on May 5, 2008. There I met Babu Chiri Sherpa, who stayed at the summit for over 21 hours without auxilary oxygen on 21 May 2000, a record which is yet to be broken.</p>

<p>The programme did not start on time, so I just wandered around the crowd and spotted Reinhold Messner from Italy and Peter Habler from Austria. These two Europeans were the first to set the world record for climbing the summit without supplement oxygen on May 8, 1978. With them was Lydia Bradey from New Zealand, the first woman to conquer Mt Everest without oxygen on October 14, 1988. &nbsp;</p>

<p>I also met the Polish mountaineer Kyzysztof Wielicki who is the first to reach the summit during the peak winter season when the temperature reaches -36 degrees celsius. He climbed the peak on February 17, 1980.&nbsp; Then there were the two Slovenes - Andrej Stremfelj and his wife Marija Stremfelj, first married couple to summit Mt Everest on October 7, 1990.&nbsp; Talking with them were Moni Mulepati and Pem Dorjee Sherpa, the Nepali couple who got married on the summit on May 30, 2005.</p>

<p>A French father and his son were also there to participate in the event. After reaching the summit on October 7, 1990, Jean-No&euml;l Roche and his 17-year old son Roche Bertrand a.k.a. &ldquo;Zebulon&rdquo; flew back to base camp from the South Col, a sharp edge col between Mt Everest and Mt Lhotse, via a 2-seater tandem paraglider. With this, Zebulon also became the youngest non-Nepali to reach the top. In the meantime, I saw the Spanish brothers Alberto and Felix I&ntilde;urrategi who ascended on September 25, 1992. Nepali climber Temn Chirri Sherpa, who conquered the highest peak on May 23, 2001 when he was 16 years old, was there busy talking to the first youngest Nepali climber Shambhu Tamang who reached the summit on May 5, 1973 when he was 17 years old.</p>

<p>I was also surprised to meet the American Thomas Whittaker who climbed the peak on one foot on May 27, 1998 to become the first differently-abled mountaineer to summit Mt Everest. Davo Karničar, a Slovene climber, one who did the first ski descent from the world&rsquo;s highest mountain peak on October 7, 2000 also attended the event. He also holds the record for ski descents from all seven summits.</p>

<p>Meeting the mountaineers on this special occasion was a special moment for me.&nbsp; So, without wasting this opportunity, I move on to meet Ang Chirring Sherpa, the first Nepali journalist to climb the peak on May 22, 2003. He was talking to Kalpana Maharjan, the first female journalist to summit Mt Everest; she climbed from the south (Nepal) side on May 23, 2018 and the north side (China) on May 23, 2019. Then, I came across three brothers, Lakpa Gelu Sherpa, Da Nuru Sherpa and Jangbu Sherpa, who were on the top on May 26, 2003. Lhakpa Gelu also made the world record for the fastest climb of Mt Everest within 10 hours 56 min and 46 sec. Then I saw another mountaineer Lhakpa Tharke Sherpa who stayed at the summit without upper body clothes for 3 minutes braving the -39 degrees celsius on May 24, 2006.</p>

<p>Among the participants were seven children of the same parents, who climbed Mt Everest on different dates. The siblings are Ang Chhiri, Nim Temba, Pema Tharki, Nima Gombu, Mingma Tsiri, Thundu and Pasang Tenzing Sherpa. Similarly, Sungdare Sherpa, who is considered as one of the strongest climbers and is the first mountaineer to summit the world&rsquo;s highest peak for five times, was among the attendees.</p>

<p>I was happy to meet other legendary mountaineers like the &lsquo;Snow Leopard&rsquo; Ang Rita Sherpa, the record holder of most summits without supplement oxygen; Apa Sherpa, a 21 times climber; Kami Rita Sherpa, a 25 times climber, Lhakpa Sherpa, a 9 times climber and Dave Hahn, a 15 times climber. The Indian climber Kushang Dorje Sherpa, the first person to reach the summit through the Southeast Ridge route on May 10, 1993 and May 28, 1998, Northeast Ridge route on May 17, 1996 and East Face on May 28, 1998, was there to celebrate the event organised to mark the first ascent of Mt Everest. &nbsp;</p>

<p>The new record holders Nirmal Purja and Mingma Gyabu were seen together in the event. They are the bravest mountaineers of modern mountaineering as the former British Gurkha soldier Purja has set the record for climbing all 14 highest mountains of the world within the shortest period of 6 months and 6 days. Likewise, at 31, Mingma became the youngest mountaineer to climb all 14 peaks.</p>

<p><img alt="" src="/app/webroot/userfiles/images/Clipboard01%2854%29.jpg" style="height:567px; width:800px" /></p>

<p>All members of the First Inclusive Women&#39;s Sagarmatha Expedition 2008 (FIWSE08), 9 Nepali civil service personnel of the Nepal Civil Servant First Mountain Everest Expedition, 2011 and team members of the Sagarmatha Height Measurement Expedition 2019 were also present at the event.</p>

<p>I was invited on stage for my remarks. I was a bit nervous but gathered my courage to speak up in front of the audience.</p>

<p>&quot;It is a great pleasure and honour to be here. I feel very delighted to have met 6,030 men and 471 women mountaineers so far. Mountaineering is full of risks. But mountains are blamed for the unfortunate accidents that have happened. The first accident on Mt Everest occurred in 1922 when seven porters and George Mallory of the British Mt. Everest Expedition lost their lives. Till date, more than 300 mountaineers have died trying to conquer me. Many record holder Nepali mountaineers are in different professions in developed nations, whereas foreign mountaineers are living like celebrities in their countries. Foreign climbers are well educated and earn money by selling their autobiographies, charging fees to attend talk shows and other programmes, and by engaging in other activities. But Nepali mountaineers don&rsquo;t have such avenues of income.</p>

<p>There is less attraction among Nepali youngsters to get into the mountaineering profession because of high risks, income uncertainty and other hardships. Now the time has come to think on this issue, otherwise there will be a scarcity of human resources in mountaineering by the next 2-3 decades.</p>

<p>While mountains in certain parts of the country have gained enormous national and international highlights over these years, the mountains of Nepal&rsquo;s far-western region have faced neglect. There are so many amazing mountains in this region, but the mountaineering activities are centered only on few regions. As a result of the increased tourism activities and its effect on the local economy, the living standard of people in the Khumbu region is much better than people of other mountainous regions. Expansion of tourism activities in other regions is important to uplift the lives local people. Hence, there is a need to start working on equitable development of Nepal&rsquo;s mountain tourism.</p>

<p>Over these years, many mountaineering expeditions have been conducted to raise international awareness about global warming and its effect on mountains. The situation has become alarming as there is a formation of ponds on the surface of the Khumbu Glacier due to ice melt; such water bodies did not exist a couple of decades ago. In the last 10 years, the separately formed ponds have started to join to form larger water bodies. For example, Imja Tsho or the Imja Lake, which did not exist till 1960, now has an estimated 2.6 billion litres of water. Lives of people and their houses, farm animals and monasteries are in great danger as the glacial lake can burst any time. The outburst of the glacial lake Dig Tsho in 1985 damaged several villages and claimed the lives of three people.</p>

<p>Although Nepal&rsquo;s share in climate change is negligible compared to developed and emerging economies, the country is among the 10 most affected countries due to global warming. Every year the rate of mountain snow melt is increasing, and if this continues, one day the peaks will remain only like gigantic black rocks without snow. The accelerating snow melt will increase the possibility of devastating floods and rise in sea levels affecting millions of people and animals, and adversely impact vegetation in different parts of the world. Before all this happens, people need to come together to mitigate the impact of climate change. As a mountain, I want my snow back and want it to melt naturally. Here I stand in front of you asking you to save the mountains for the earth&rsquo;s future.&quot;<br />
The hall could have heard a pin drop.</p>

<p><strong><em>(Sindurakar is former Chief Administrative Officer of Nepal Mountaineering Association.)</em></strong></p>
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			'id' => '13464',
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			'title' => 'Three Ordinances Related to Budget Issued ',
			'sub_title' => '',
			'summary' => 'May 29: President Bidya Devi Bhandari has issued three ordinances related to budget for the upcoming fiscal year.   ',
			'content' => '<p><span style="font-size:16px"><span style="font-family:Cambria"><span style="font-family:&quot;Arial Unicode MS&quot;">May 29:<em> </em>President Bidya Devi Bhandari has issued three ordinances related to budget for the upcoming fiscal year.&nbsp;&nbsp;&nbsp;&nbsp; </span><br />
<span style="font-family:&quot;Arial Unicode MS&quot;">According to the Office of the President, the &lsquo;Economic Ordinance, 2078&rsquo;, &lsquo;Appropriation Ordinance, 2078&rsquo; and &lsquo;Ordinance to Raise National Debt, 2078&rsquo; were issued on May 29.&nbsp;&nbsp;&nbsp;&nbsp; </span><br />
<span style="font-family:&quot;Arial Unicode MS&quot;">A meeting of the Council of Ministers had recommended the President to issue the ordinances. </span></span></span></p>

<p><span style="font-size:16px"><span style="font-family:Cambria"><span style="font-family:&quot;Arial Unicode MS&quot;">Minister for Finance Bishnu Prasad Poudel presented the budget for the fiscal year 2078/79 BS today (May 29). --RSS</span></span></span></p>
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			'id' => '13463',
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			'title' => 'Achieving Economic Growth Target is Challenging: Finance Minister',
			'sub_title' => '',
			'summary' => 'May 29: Finance Minister Bishnu Prasad Poudel has said it would be difficult to achieve the economic growth target determined for the current fiscal year due to the COVID-19 pandemic.   ',
			'content' => '<p><span style="font-size:16px"><span style="font-family:Cambria"><span style="font-family:&quot;Arial Unicode MS&quot;">May 29: Finance Minister Bishnu Prasad Poudel has said it would be difficult to achieve the economic growth target determined for the current fiscal year due to the COVID-19 pandemic.&nbsp;&nbsp;&nbsp;&nbsp; </span><br />
<span style="font-family:&quot;Arial Unicode MS&quot;">The Finance Minister made such remark while launching the Economic Survey at the Ministry of Finance on Friday afternoon (May 28), according to the state-owned national news agency RSS. On the occasion, he shared that it was a challenge even to achieve revised economic growth target in the current fiscal year.&nbsp;&nbsp;&nbsp;&nbsp; </span><br />
<span style="font-family:&quot;Arial Unicode MS&quot;">The government had set the target of achieving 7 per cent economic growth while launching the budget for the current fiscal year. It had later lowered that figure and estimated economic growth to be 4.01 per cent in view of the coronavirus pandemic.&nbsp;&nbsp;&nbsp;&nbsp; </span><br />
<span style="font-family:&quot;Arial Unicode MS&quot;">According to the Finance Minister, a situation has arisen in which the revised projected target of 4.01 per cent also could not be achieved as prohibitory order has been issued in many places of the country to contain the spread of the second wave of COVID-19.&nbsp;&nbsp;&nbsp;&nbsp; </span><br />
<span style="font-family:&quot;Arial Unicode MS&quot;">He, however, added that most of the macroeconomic indicators were positive even in the adverse situation of the pandemic.&nbsp;&nbsp;&nbsp;&nbsp; </span><br />
<span style="font-family:&quot;Arial Unicode MS&quot;">Finance Minister Poudel said that domestic investment has expanded, the scope of financial access, capital market and insurance has broadened, the overall balance of payment situation was in reserve and the remittance inflow and foreign exchange reserve have increased. .</span></span></span></p>

<p><span style="font-size:16px"><span style="font-family:Cambria"><span style="font-family:&quot;Arial Unicode MS&quot;">Meanwhile, it has been learnt that the government is making preparations to announce the budget for the upcoming fiscal year through an ordinance at 4 PM today afternoon (May 29).</span></span></span></p>
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			'title' => 'Public Enterprises’ Net Profit, Revenue Decline as Covid-19 Hits their Businesses ',
			'sub_title' => 'However, govt collects Rs 14.9 billion in cash dividend from five profit-making public enterprises, a jump by 48.87 percent from previous fiscal year’s return ',
			'summary' => 'Total net profit of government-owned public enterprises has fallen by 1.21 percent to Rs 48.29 billion in the last fiscal year (2019/20) from Rs 48.89 billion in the previous fiscal year. ',
			'content' => '<p>May 28:&nbsp; Total net profit of government-owned public enterprises has fallen by 1.21 percent to Rs 48.29 billion in the last fiscal year (2019/20) from Rs 48.89 billion in the previous fiscal year.&nbsp;<br />
According to the report of &lsquo;Annual Status Review of Public Enterprises 2021&rsquo; released by the Ministry of Finance on Friday, 24 out of 44 enterprises in existence earned a profit while 18 incurred losses. Other two public enterprises did not make any transaction, according to the report.&nbsp;<br />
Government officials blame the fall in the net profit of public enterprises to a decline in their businesses due to the Covid-19 and the pandemic induced containment measures.&nbsp;<br />
The impact of the Covid-19 is also reflected in their revenues, according to government officials. The review report, commonly known as Yellow Book, shows a 6.91 percent decline in total revenue of all public enterprises to Rs 460.39 billion in the last fiscal year. The combined revenue of public enterprises was Rs 494.59 billion in the previous fiscal year.&nbsp;<br />
With a net profit of Rs 12.91 billion in the last fiscal year, Nepal Oil Corporation stood at the top of the list of five highest profit earners. Other four public enterprises were Nepal Electricity Authority (Rs 11.04 billion), Nepal Doorsanchar Company Ltd (Rs 9.75 billion), Rastriya Banijya Bank Ltd ( Rs 4.38 billion) and Agricultural Development Bank Ltd (Rs 3.33 billion). &nbsp;&nbsp;<br />
The government received a total of Rs 14.9 billion in cash dividend from public enterprises, a jump by 48.87 percent of the return in the previous fiscal year.&nbsp;<br />
Only five public enterprises were able to pay cash dividends to the government. Nepal Doorsanchar Company Ltd was the highest dividend payer to the government with its contribution of 43.82 percent in the total cash dividend. Nepal Oil Corporation&rsquo;s contribution in the total dividend was 36.56 percent.&nbsp;<br />
However, the return on equity ratio stands at only 4.88 percent.&nbsp;<br />
The Yellow Book shows that the government&rsquo;s investment has gone up by 11.74 percent in public enterprises to Rs 519.55 billion. Share or equity investment accounts for 55.52 percent (Rs 288.65 billion) of the total investment. The remaining 44.48 percent (Rs 230.89 billion) of the investment the government has made in these public enterprises is in the form of loans.&nbsp;</p>

<p>As the government has been financing big capital projects including hydropowergeneration and transmission projects, airports and drinking water project through public enterprises, the investment is on the rise, according to the report.&nbsp;<br />
&nbsp;</p>
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			'title' => 'Govt Built 1,338 km of New Roads in Current Fiscal Year: Economic Survey Report',
			'sub_title' => 'After dissolution of the House of Representatives, Finance Minister Paudel releases Economic Survey report amid a virtual press meet',
			'summary' => 'The federal government has expanded 1,338 km of new roads that include 284 km of mud roads, 504 km of gravel roads and 550 km of black topped roads in the first eight months of the current fiscal year 2020/21.',
			'content' => '<p>May 28: The federal government has expanded 1,338 km of new roads that include 284 km of mud roads, 504 km of gravel roads and 550 km of black-topped roads in the first eight months of the current fiscal year (FY 2020/21).<br />
Releasing the report of the Economic Survey 2020/21 on Friday, the Ministry of Finance said that the total length of roads has reached 33,528 km as of mid-February including 15,974 km of black-topped roads, 8,582 km gravel roads and 8,972 km of mud roads.<br />
Releasing the survey report amid a virtual ceremony, Minister for Finance Bishnu Prasad Paudel claimed that the government achieved a significant progress in infrastructure development and transportation sector during the review period.<br />
While the government is required to present the Economic Survey at the Federal Parliament, Finance Minister Paudel released the survey report amid a virtual press conference as the House of Representatives was dissolved by President Bidya Devi Bhandari last Friday upon the recommendation of Prime Minister KP Sharma Oli.<br />
According to the survey report, the government built 129 new bridges in the review period compared to 210 bridges constructed in the last fiscal year (FY 2019/20).<br />
Likewise, the Economic Survey shows that access to insurance reached 23.4 percent of the total population by mid-March 2020 compared to 22 percent in the same period last year.<br />
Addressing the virtual press meet, Finance Minister Paudel said that the country&#39;s major economic indicators are positive despite a shrink in economic activities due to Covid-19.<br />
Though the Central Bureau of Statistics (CBS) had made a preliminary estimate of 4.01 percent of economic growth in the current fiscal year, economists say that the GDP growth is likely to remain way below the estimate of CBS which was based on an assumption that the prohibitory period imposed in many parts of the country to contain the second wave of coronavirus would not last more than two weeks. However, the prohibitory period in Kathmandu Valley, which started on April 29, has been extended till June 3.&nbsp;<br />
Finance Minister Paudel pointed to lower average inflation, increase in revenue collection and mobilization of international assistance, improvement in external sector position, stock market rally and progress in human and social development, among other indicators, to paint a rosy picture of the economy.<br />
&nbsp;<br />
&nbsp;</p>
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			'article_category_id' => '1',
			'title' => 'Nepal’s Development Partners Call for Quick Purchase of Vaccines',
			'sub_title' => '',
			'summary' => 'Nepal’s Covid-19 vaccination drive, which started with a bang, has sputtered to an uneasy close, stoking fears of a rapid rise in infection -- including in rural areas that were largely untouched by the first wave -- and heavy loss of lives.',
			'content' => '<p><span style="font-size:18px"><span style="font-family:Calibri">Rupak D Sharma</span></span></p>

<p><span style="font-size:18px"><span style="font-family:Calibri">Kathmandu, May 28</span></span></p>

<p><span style="font-size:18px"><span style="font-family:Calibri">Nepal&rsquo;s Covid-19 vaccination drive, which started with a bang, has sputtered to an uneasy close, stoking fears of a rapid rise in infection -- including in rural areas that were largely untouched by the first wave -- and heavy loss of lives.</span></span></p>

<p><span style="font-size:18px"><span style="font-family:Calibri">The commitments expressed by various countries as well as development partners, such as the Asian Development Bank (ABD) and the World Bank (WB), to support Nepal to restart its vaccination campaign are consoling. But the nature of coronavirus is such that it spreads rapidly. And delays of even a few days can wreak havoc. Just look at how rapidly the death toll has jumped. It stood at around 3,200 until a month ago and has since more than doubled to over 7,000.</span></span></p>

<p><span style="font-size:18px"><span style="font-family:Calibri">&ldquo;When it comes to vaccines, Nepal cannot and should not wait.... The World Bank and ADB commit to funding Nepal&rsquo;s eligible vaccines that have WHO listing. We will do this today if the contracts between the government and eligible providers are ready. We are ready and on standby,&rdquo; Faris Hadad-Zervos, World Bank Country Director, said in a written statement made available to the New Business Age.</span></span></p>

<p><span style="font-size:18px"><span style="font-family:Calibri">The WB has provided US$75 million and the ADB an additional US$165 million to the government for procurement of safe and effective vaccines. China recently said it is ready to offer 1 million additional doses. Other countries, including the US, the UK and those in the European Union, too have said they would support Nepal to rollout vaccines.</span></span></p>

<p><span style="font-size:18px"><img alt="" src="/app/webroot/userfiles/images/Daily%20new%20cases.jpg" style="height:378px; width:607px" /></span></p>

<p><span style="font-size:18px"><span style="font-family:Calibri">Nepal, which has a population of about 30 million, was among the first in Asia to receive Covid-19 vaccines. It has administered around 2.74 million doses so far, which include vaccines provided in the form of grants by India and China. Early vaccine rollout in Nepal was seen as a feat by many. Then, the drive went into a tailspin. This was not because the country lacked financial resources but because of the choices it made. </span></span></p>

<p><span style="font-size:18px"><span style="font-family:Calibri">Initially, the government was too focused on getting the vaccines for free. Later initiatives were taken to purchase them and one million doses were even bought from India. Then the health minister made statements saying some of the people, who were seeing the vaccination drive as a gravy train, were creating obstructions in the procurement process. This controversy dragged on for some period and by the time it subsided, India, one of the world&rsquo;s largest vaccine suppliers, was in the grips of the second wave of the pandemic. This left India with no choice but to stop exports of vaccines. </span></span></p>

<p><span style="font-size:18px"><span style="font-family:Calibri">The second wave of pandemic that hit India entered Nepal in no time. Soon hospitals started coming under intense pressure and the demand for oxygen and other critical medical equipment such as ventilators surged. The EU and its member states, the US, the United Nations, Switzerland, and the UK, for example, have supplied oxygen equipment, ventilators, personal protective equipment (PPE) and other medical equipment. </span></span></p>

<p><span style="font-size:18px"><span style="font-family:Calibri">&ldquo;We are also quickly mobilising emergency support with an initial 2 million euros towards the UN&rsquo;s COVID appeal. We stand ready to provide further assistance,&rdquo; said Janez Lenarčič, European Commissioner for Crisis Management in a statement provided to the New Business Age, thanking Finland, Spain, France, Germany and Belgium &ldquo;for their quick and generous offers of assistance via the Civil Protection Mechanism&rdquo;.</span></span></p>

<p><span style="font-size:18px"><span style="font-family:Calibri">The development partners have also formed the Health Working Group to respond to Nepal&rsquo;s needs in a coordinated manner through a single window. This is expected to maximize the efficiency in meeting Nepal&rsquo;s Covid-related needs and streamline support. Several development partners have also immediately deployed their technical expertise to inform a fast-tracked response.</span></span></p>

<p><span style="font-size:18px"><span style="font-family:Calibri">&ldquo;The UK has had a technical team working in the Ministry of Health and Population for some years. The team has proved to be invaluable in being able to support the government in shaping the response to COVID-19. They have advised on the Rapid Response Plan, the specifications for equipment, design of treatment facilities, epidemiology, analysis, data and much more,&rdquo; said Lisa Honan, British Embassy&rsquo;s Development Director in a statement provided to the New Business Age.</span></span></p>

<p><span style="font-size:18px"><img alt="" src="/app/webroot/userfiles/images/PCR%20Tests.jpg" style="height:380px; width:609px" /></span></p>

<p><span style="font-size:18px"><span style="font-family:Calibri">The government has formed a high-level body, called Covid-19 Crisis Management Centre (CCMC), to take the lead in managing and coordinating the fight against the pandemic. Although many have supported formation of such a body, its image has been tarnished to some extent because of allegations of corruption levelled against it. Many are expecting the body to operate more professionally and in a transparent manner as the government has recently appointed former Nepal Army Lieutenant General Balananda Sharma as its CEO. But it has been suggested that it rope in more technical and public health experts who can help the body make streamlined, scientific, evidence-based and practical decisions to minimise health, social and economic impacts of the pandemic.</span></span></p>

<p><span style="font-size:18px"><span style="font-family:Calibri">Nepal is facing a host of problems in dealing with the pandemic largely because it has failed to make adequate investment in public health infrastructure. Of course, the healthcare system of even the developed countries came under severe pressure during the pandemic. But, globally, lessons are being learnt and preparations are simultaneously being made to tackle such problems effectively and efficiently. In Nepal too calls are being made to strengthen public health infrastructure by engaging local governments. This should be supplemented by countrywide expansion of universal health insurance scheme, as many of the Covid-19 infected hesitated to visit hospitals because of the costs involved in the medical treatment. Germany, which provides one of the world&rsquo;s best universal health insurance schemes using private and quasi-private agencies, is already supporting Nepal on this front. The country needs an affordable universal health insurance plan to build human capital.</span></span></p>

<p><span style="font-size:18px"><span style="font-family:Calibri">&ldquo;Several years of common effort to build a universal health insurance, together with GIZ and other partners, provide excellent experience and the first building blocks for fulfilling this task,&rdquo; said Ambassador of Germany to Nepal Roland Sch&auml;fer in a statement provided to the New Business Age.</span></span></p>

<p><span style="font-size:18px"><span style="font-family:Calibri">Had mechanisms like universal health insurance and a good public health infrastructure been in place, Nepal perhaps would not have had to impose one of the severest lockdowns in the world to contain the spread of the disease. During the first wave of the pandemic, entire Nepal was shut down for almost four months from March 24, 2020. The restrictions in movement brought the economy to a standstill, as almost all of the enterprises remained closed, supply chains were disrupted and many employees were relieved of their duties or were asked to take sharp pay cuts. This is expected to have made 1.6 million jobless and pushed 1.2 million into the poverty trap.</span></span></p>

<p><span style="font-size:18px"><img alt="" src="/app/webroot/userfiles/images/Positive%20rate%281%29.jpg" style="height:381px; width:608px" /></span></p>

<p><span style="font-size:18px"><span style="font-family:Calibri">Nepal has not imposed a nationwide lockdown to tackle the second wave of pandemic, but almost all the districts have issued prohibitive orders since the end of April, severely restricting movements. Although an official study on the impact of the second round of lockdown has not been conducted, a survey done by the General Federation of Nepalese Trade Unions (GEFONT) in 60 districts showed that 3.65 million people have lost their jobs so far. Effect on livelihood of daily wage earners, persons with disabilities and people from disadvantaged groups with no access to formal social safety net is not immediately known. But impact is likely to be greater this time as infection rate has not gone down even after a month of lockdown and the virus has penetrated rural areas as well which largely remained safe during the first wave of pandemic.</span></span></p>

<p><span style="font-size:18px"><span style="font-family:Calibri">The only government mechanism that can provide a safety net at times like these is the Prime Minister Employment Programme (PMEP), but it has not been able to provide relief to the most vulnerable. Around 187 countries around the world are already providing emergency cash transfers, mainly by expanding existing programmes, according to the World Bank. But Nepal has not been able to make use of its social protection programme, although the PMEP guideline allows distribution of subsistence allowance equivalent to 50 percent of wages of unworked days to registered beneficiaries. </span></span></p>

<p><span style="font-size:18px"><span style="font-family:Calibri">Earlier, the government had introduced the Business Continuity Loan Scheme -- under which credit of up to Rs 100 million was pledged for a minimum of two years at five percent (first year) to six percent (second year) interest -- to save jobs as well as enterprises. But there were very few takers of this credit, as the scheme came with conditions that many businesses could not meet. Many are demanding that a similar scheme with fewer conditions be introduced to aid enterprises that are on the verge of bankruptcy. There are also calls for increasing the size of the refinance fund at the central bank -- and donors have expressed commitment to contribute to it -- to continue providing subsidised funding to priority sectors, particularly small and medium enterprises affected by the pandemic.</span></span></p>

<p><span style="font-size:18px"><span style="font-family:Calibri">&ldquo;Supporting the recovery of enterprises and investment growth is a crucial part of post-Covid recovery,&rdquo; said Swiss Ambassador to Nepal Elisabeth von Capeller in a statement provided to the New Business Age, adding, &ldquo;Switzerland, in partnership with the World Bank, is supporting the Government of Nepal to drive forward much needed reforms and help MSMEs [micro, small and medium enterprises] recover and rebound.&rdquo; </span></span></p>

<p><span style="font-size:18px"><span style="font-family:Calibri">Going forward, Nepal needs to prepare a coherent plan to revive the businesses and the economy, as growth contracted by two percent in the last fiscal year and the central bank has already ruled out the possibility of attaining four percent growth rate projected by the Central Bureau of Statistics for this year. </span></span></p>

<p><span style="font-size:18px"><span style="font-family:Calibri">But for now Nepalis want one thing: vaccine.</span></span></p>

<p><span style="font-size:18px">&ldquo;Vaccination program is the urgent need of the hour and the World Bank and ADB are working closely with the government and all partners in procuring and delivering COVID-19 vaccines safely and effectively. Vaccination not only saves lives and but also mitigates the negative economic impacts of the pandemic by restoring people&rsquo;s ability to work and travel safely,&rdquo; said Rudi Van Dael, Unit Head, Portfolio Management, of the Asian Development Bank Nepal Resident Mission, in a statement provided to the New Business Age.</span></p>

<p><span style="font-size:18px"><span style="font-family:Calibri"><em>(Based on views expressed by Asian Development Bank, British Embassy, European Union, German Embassy, Embassy of Switzerland, and World Bank)</em></span></span></p>

<p>&nbsp;</p>
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			'title' => 'Hotel Industry on the Verge of Collapse: HAN',
			'sub_title' => 'Hoteliers urge the government to adopt a policy to support them',
			'summary' => 'May 28: The Hotel Association of Nepal (HAN) has said that the hotel industry will collapse if the government does not adopt policies to support the tourism and hotel industries.',
			'content' => '<p><span style="font-size:16px"><span style="font-family:Times"><span style="font-family:&quot;Times New Roman&quot;">May 28: The Hotel Association of Nepal (HAN) has said that the hotel industry will collapse if the government does not adopt policies to support the tourism and hotel industries. The umbrella body of hotel operators drew the government&#39;s attention stating that Covid-19 has severely affected the hotel industry and needs a government&rsquo;s support and budget for revival.</span></span></span></p>

<p><span style="font-size:16px"><span style="font-family:Times"><span style="font-family:&quot;Times New Roman&quot;">Issuing a press statement on May 27, HAN demanded the government to address various issues that have troubled them. The association has requested the government to address severely affected industries, establish protection funds, provide concession on tax including special concessions, waivers, banking concessions, rebates on electricity tariffs and charges, suspension of financial obligations, in addition to staff and workers welfare scheme and promotion of internal tourism.</span></span></span></p>

<p><span style="font-size:16px"><span style="font-family:Times"><span style="font-family:&quot;Times New Roman&quot;">According to HAN, the hotel industry, hit by the global pandemic, has not been able to get back on track due to the second wave of coronavirus infection. It is mentioned in the press statement that the hoteliers are in a state of great confusion and panic regarding the risk of their hotel business.</span></span></span></p>

<p><span style="font-size:16px"><span style="font-family:Times"><span style="font-family:&quot;Times New Roman&quot;">Shreejana Rana, president of HAN, said that the employment of millions of individuals dependent on the hotel and tourism business is at stake.&nbsp;</span></span></span></p>

<p><span style="font-size:16px"><span style="font-family:Times"><span style="font-family:&quot;Times New Roman&quot;">Likewise, the press statement says that many hoteliers have been compelled to flee due to the current situation. HAN said that the tourism and hotel industry is at risk of collapsing.</span></span></span></p>

<p><span style="font-size:16px"><span style="font-family:Times"><span style="font-family:&quot;Times New Roman&quot;">The statement further says it would take time for tourism to return to normalcy even after the coronavirus pandemic subsides. HAN has also demanded the government to establish a business protection fund for the revival of the hotel industry and an employment protection fund for its dependent employees and workers.</span></span></span></p>

<p><span style="font-size:16px"><span style="font-family:Times"><span style="font-family:&quot;Times New Roman&quot;">Similarly, HAN has demanded the government to provide concession in tax for 3 years along with 50 percent exemption in value-added tax till the business returns to normalcy. HAN also stressed the need to waive direct taxes levied by the federal, provincial, and local governments on the hotel sector for the next three years. The association also has asked for a 50 percent discount on electricity tariffs for the next two years.&nbsp;</span></span></span></p>

<p><span style="font-size:16px"><span style="font-family:Times"><span style="font-family:&quot;Times New Roman&quot;">Likewise, the association also has demanded the government introduce policies to promote domestic tourism.</span></span></span></p>

<p>&nbsp;</p>
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		'Article' => array(
			'id' => '13458',
			'article_category_id' => '1',
			'title' => 'Remittance Companies Urge Central Bank to Facilitate them in Availing their Services',
			'sub_title' => '',
			'summary' => 'May 28: With the extension of prohibitory order, remittance companies have been facing problems in acquiring passes for transportation. ',
			'content' => '<p><span style="font-size:16px"><span style="font-family:Times"><span style="font-family:&quot;Times New Roman&quot;">May 28</span>: <span style="font-family:&quot;Times New Roman&quot;">With the extension of prohibitory order, remittance companies have been facing problems in acquiring passes for transportation. This has in turn affected not only their business but also people from availing their service. Thus, remittance companies have requested Nepal Rastra Bank to facilitate in remittance payment.</span></span></span></p>

<p><span style="font-size:16px"><span style="font-family:Times"><span style="font-family:&quot;Times New Roman&quot;">The Umbrella Organization of Nepal Remitters Association has submitted a written request to the District Administration Office to arrange transportation passes for at least a limited number of employees.</span></span></span></p>

<p><span style="font-size:16px"><span style="font-family:Times"><span style="font-family:&quot;Times New Roman&quot;">The association submitted such a request after the government&rsquo;s decision to extend the prohibitory period and enforce it strictly.</span></span></span></p>

<p><span style="font-size:16px"><span style="font-family:Times"><span style="font-family:&quot;Times New Roman&quot;">Officials at the Foreign Exchange Department of Nepal Rastra Bank stated that they have verbally requested the Chief District Officers to provide at least one or two passes per company since the central bank does not intend to halt remittance service.</span></span></span></p>

<p><span style="font-size:16px"><span style="font-family:Times"><span style="font-family:&quot;Times New Roman&quot;">According to Guru Prasad Poudel, the director of the department, the District Administration Offices have been requested to facilitate transportation to remittance companies for giving continuity to their services.</span></span></span></p>

<p><span style="font-size:16px"><span style="font-family:Times"><span style="font-family:&quot;Times New Roman&quot;">Due to high infection of Covid-19, Nepal Rastra Bank had directed remittance companies to carry out their operation with a handful of employees. On May 2</span>, the companies were directed to work with maximum safety and vigilance. The Foreign Exchange Department of the central bank directed remittance companies to work with participation of limited number of employees.</span></span></p>

<p><span style="font-size:16px"><span style="font-family:Times"><span style="font-family:&quot;Times New Roman&quot;">Till date, 51 remittance companies have received permission from Nepal Rastra Bank to continue their operation. Similarly, 10 payment system operators and 28 payment service providers are given permission to operate.</span></span></span></p>

<p>&nbsp;</p>
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		'Article' => array(
			'id' => '13457',
			'article_category_id' => '1',
			'title' => 'Former Finance Ministers Suggest Government not to Introduce Full Budget ',
			'sub_title' => '',
			'summary' => 'May 28: Former finance ministers have suggested the government not to introduce full budget through ordinance as there is no majority government at present.',
			'content' => '<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Times New Roman&quot;">May 28: Former finance ministers have suggested the government not to introduce full budget through ordinance as there is no majority government at present.</span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Times New Roman&quot;">They were of the view that a caretaker government should not announce full-fledged budget while the issue of restoration of parliament is sub judice in the Supreme Court.</span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Times New Roman&quot;">They made such appeal during a meeting of the former finance ministers&rsquo; forum. The ex-ministers also discussed about the budget for the upcoming&nbsp;Fiscal Year (FY 2078/79) and the impact of covid-19 on the economy.</span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Times New Roman&quot;">Issuing a statement after the meeting, former finance ministers Prakash Chandra Lohani, Ram Sharan Mahat, Krishna Bahadur Mahara, Surenda Paney and Barshaman Pun said, &ldquo;According to the international practice, it is not appropriate to bring a full budget in such a situation. If a budget needs to be brought through ordinance in such times, it is suggested to bring a provisional budget with regular expenditure only.&rdquo;</span></span></span></span></p>

<p>&nbsp;</p>
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