May 21: Australia will provide an additional AUD $7 million (NPR 635 million) in funding to Nepal to support the response to COVID-19.…
May 21: Australia will provide an additional AUD $7 million (NPR 635 million) in funding to Nepal to support the response to COVID-19.…
May 21: A total of seven chartered flights have been operated from Nepal in the last ten days, mainly to carry Indian nationals to various Middle-East countries from Kathmandu.…
May 21: President Bidya Devi Bhandari has initiated the process of formation of a new government in accordance with Article 76 (5) of the Constitution of…
May 21: The Federation of Computer Association Nepal (CAN) has urged all the stakeholders to make the optimal use of Information and Communication Technologies (ICT) to contain the second wave of…
May 20: Five new companies have submitted applications to the Insurance Board for establishing a new reinsurance…
May 20: The Supreme Court has issued an interim order asking the government not to fine taxpayers for the delay in submission of VAT and tax within the stipulated…
May 20: Nepal Association of Tour and Travel Agents (NATTA) has urged the government to create a favourable environment for foreign visitors to return home from Nepal.…
May 19: Himalaya Airlines operated three chartered flights to airlift stranded Indian nationals from Kathmandu to Dammam, Saudi Arabia, on Tuesday (May…
May 19: Nepal Academy of Science and Technology (NAST) has tested the production of oxygen gas cylinder for the first time in Nepal.…
May 19: The Revenue Advisory Committee has recommended the government to monitor ecommerce businesses and digital payment to facilitate revenue collection in the country.…
Nepal Rastra Bank (NRB) has said that 4.01 percent of economic growth in the curent fiscal year 20120/21 as projected by the Central Bureau of Statistics is now difficult to…
May 19: Nepal Rastra Bank (NRB) has directed banks and financial institutions to support people suffering from Covid-19 with oxygen supply and medical aid under their Corporate Social Responsibility…
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May 18: With the increase in number of Covid-19 cases, the government has stepped up efforts to facilitate the import oxygen cylinders from China via Tatopani customs.…
May 18: Finance Minister Bishnu Prasad Paudel has instructed concerned officials to ease the customs clearance process for importing oxygen cylinders and other medical equipment taking into consideration the current health crisis.…
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', 'content' => '<p><span style="font-size:11pt"><span style="font-family:Cambria"><span style="font-size:15.0pt"><span style="font-family:Times">May 21: Australia will provide an additional AUD $7 million (NPR 635 million) in funding to Nepal to support the response to COVID-19. </span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Cambria"><span style="font-size:15.0pt"><span style="font-family:Times">The Australian Embassy said in a statement that this funding is part of a AUD $17.5 million package to support Bangladesh, Nepal and Sri Lanka, to strengthen the resilience of the South Asian region.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Cambria"><span style="font-size:15.0pt"><span style="font-family:Times">Australia’s contribution will boost Nepal’s ability to address COVID-19, including through the procurement of essential equipment and health supplies, such as oxygen for provincial hospitals and personal protective equipment for health workers, the statement added.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Cambria"><span style="font-size:15.0pt"><span style="font-family:Times">“This funding will be delivered to our trusted and established partners working on-the-ground across Nepal, in coordination with the work being undertaken by other donors including the US, UK, Japan and UN agencies,” read the statement issued on May 21.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Cambria"><span style="font-size:15.0pt"><span style="font-family:Times">The statement further said that the Australian Government continues to support the provision of safe and effective COVID-19 vaccines to Nepal, including through their support to COVAX.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Cambria"><span style="font-size:15.0pt"><span style="font-family:Times">Australia’s Ambassador to Nepal Felicity Volk said Australia is working to support the most heavily impacted communities in Nepal.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Cambria"><span style="font-size:15.0pt"><span style="font-family:Times">“Australia and Nepal have a long-standing friendship and a history of supporting each other during times of crisis. Australia is deeply concerned about the devastating impact that COVID-19 is having across Nepal and the region. With this assistance, we will partner with the Government of Nepal to respond to urgent health needs, including providing support to regional hospitals and vulnerable communities,” the statement quoted the Australian ambassador as saying.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Cambria"> </span></span></p> ', 'published' => true, 'created' => '2021-05-21', 'modified' => '2021-05-21', 'keywords' => '', 'description' => '', 'sortorder' => '13171', 'image' => '20210521023834_Flag-Pins-Ne.jpg', 'article_date' => '2021-05-21 14:37:49', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 1 => array( 'Article' => array( 'id' => '13425', 'article_category_id' => '1', 'title' => 'Seven Chartered Flights Operated in Last 10 Days', 'sub_title' => '', 'summary' => 'May 21: A total of seven chartered flights have been operated from Nepal in the last ten days, mainly to carry Indian nationals to various Middle-East countries from Kathmandu. ', 'content' => '<p><span style="font-size:12pt"><span style="font-family:Cambria"><span style="font-family:"Times New Roman"">May 21: A total of seven chartered flights have been operated from Nepal in the last ten days, mainly to carry Indian nationals to various Middle-East countries from Kathmandu. </span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:Cambria"><span style="font-family:"Times New Roman"">According to the Civil Aviation Authority of Nepal, seven chartered flights for passengers have been operated between May 10 and 19. </span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:Cambria"><span style="font-family:"Times New Roman"">According to CAAN, Himalaya Airlines operated four flights, followed by Nepal Airlines (3), and Qatar Airways (1) during this period. </span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:Cambria"><span style="font-family:"Times New Roman"">Himalaya Airlines operated a charter flight to Hazrat Shahjalal International Airport, Dhaka, on May 10 and three chartered flights to King Fahd International Airport, Dammam, on May 18. </span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:Cambria"><span style="font-family:"Times New Roman"">Likewise, Nepal Airlines operated a chartered flight to King Fahd International Airport, Dammam, and King Khalid International Airport, Riyad each on May 18 and 19. </span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:Cambria"><span style="font-family:"Times New Roman"">Similarly, Qatar Airways took off from Kathmandu for Vnukovo International Airport, Moscow, on May 11. </span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:Cambria"><span style="font-family:"Times New Roman"">Meanwhile, three evacuation flights were operated by three different foreign national flag carriers during this period. </span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:Cambria"><span style="font-family:"Times New Roman"">Qatar Airway, Turkish Airlines, and PJSC Aeroflot operated an evacuation flight each on 16th, 17th, and 18th May to Doha, Istanbul, and Khimki respectively for evacuating foreigners from Nepal. </span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:Cambria"><span style="font-family:"Times New Roman"">Likewise, CAAN has approved three additional evacuation flights scheduled for May 22, 23, and 24. </span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:Cambria"><span style="font-family:"Times New Roman"">Qatar Airways and Turkish Airlines will be operating the evacuation flights from Kathmandu to Doha and Istanbul respectively. </span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:Cambria"><span style="font-family:"Times New Roman"">Meanwhile, the Indian Embassy in Kathmandu and various media outlets have criticized airlines for charging exorbitant airfare for chartered flights. </span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:Cambria"><span style="font-family:"Times New Roman"">Meanwhile, Himalaya Airlines has expressed its concern over the allegation. </span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:Cambria"><span style="font-family:"Times New Roman"">The airlines wrote to New Business Age that it sold the air tickets as per the Global Distribution System to make it convenient for the passengers. </span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:Cambria"><span style="font-family:"Times New Roman"">"To compete in agency services as well, any local travel agency registered with the International Aviation Industry Association (IATA) will be able to sell tickets and passengers will be able to buy tickets with a travel agency that suits them," a press statement of the airlines reads.</span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:Cambria"><span style="font-family:"Times New Roman"">"All the tickets have been sold through the global ticket distribution system which is accessible to all the agencies and all the fares are also accessible to all the agencies through this system. The system is completely transparent and competitive between agencies, from which passengers can benefit from the quality of service and service charges. Since these flights have to carry one-way passengers, that is, the aircraft has to be brought back empty, it is natural that the fares will be proportionally higher than the regular flights," the statement further added.</span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:Cambria"><span style="font-family:"Times New Roman"">Himalaya Airlines said it believes that agencies do not charge exorbitant fees. However, if an agency submits evidence of unduly excessive charges to a passenger, the airline company will recommend to the relevant regulatory body for necessary action.</span></span></span></p> <p> </p> ', 'published' => true, 'created' => '2021-05-21', 'modified' => '2021-05-21', 'keywords' => '', 'description' => '', 'sortorder' => '13170', 'image' => '20210521022538_20191020090205_aaaa.jpg', 'article_date' => '2021-05-21 14:24:57', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 2 => array( 'Article' => array( 'id' => '13424', 'article_category_id' => '1', 'title' => 'MPs Given Deadline Until 5PM Today to Choose New Prime Minister', 'sub_title' => '', 'summary' => 'May 21: President Bidya Devi Bhandari has initiated the process of formation of a new government in accordance with Article 76 (5) of the Constitution of Nepal.', 'content' => '<p><em>President Bidya Devi Bhandari. Photo Courtesy: Government of Nepal</em></p> <p><span style="font-size:11pt"><span style="font-family:Cambria"><span style="font-family:"Arial Unicode MS"">May 21: President Bidya Devi Bhandari has initiated the process of formation of a new government in accordance with Article 76 (5) of the Constitution of Nepal.</span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Cambria"><span style="font-family:"Arial Unicode MS"">The president has called upon the Members of Parliament (MPs) to submit their claim for the premiership till 5:00 pm on May 21. </span><br /> <span style="font-family:"Arial Unicode MS"">Deputy Spokesperson at the Office of the President, Keshav Prasad Ghimire, informed that the president made such call to initiate the process for the appointment of a new prime minister upon the request of Prime Minister KP Sharma Oli. </span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Cambria"><span style="font-family:"Arial Unicode MS""> The Council of Ministers had decided on May 20 to initiate a new process to appoint the prime minister in accordance with Article 76 (5). </span></span></span></p> ', 'published' => true, 'created' => '2021-05-21', 'modified' => '2021-05-21', 'keywords' => '', 'description' => '', 'sortorder' => '13169', 'image' => '20210521110826_Rt._Hon._President-819x1024.jpg', 'article_date' => '2021-05-21 11:07:24', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 3 => array( 'Article' => array( 'id' => '13423', 'article_category_id' => '1', 'title' => 'CAN Federation Urges Government to Maximize use of ICT to Contain Coronavirus', 'sub_title' => '', 'summary' => 'May 21: The Federation of Computer Association Nepal (CAN) has urged all the stakeholders to make the optimal use of Information and Communication Technologies (ICT) to contain the second wave of coronavirus.', 'content' => '<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:12.0pt"><span style="font-family:"Times New Roman"">May 21: The Federation of Computer Association Nepal (CAN) has urged all the stakeholders to make the optimal use of Information and Communication Technologies (ICT) to contain the second wave of coronavirus.</span></span></span></span></p> <p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:12.0pt"><span style="font-family:"Times New Roman"">In light of the increasing new COVID-19 infections and patients not getting ICU beds, CAN Federation has requested the government to provide real time information with use of ICT. It has sought attention of the government and concerned stakeholders for updating the information uploaded on Health Management Information System (HMIS) on an hourly basis instead of a daily basis. </span></span></span></span></p> <p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:12.0pt"><span style="font-family:"Times New Roman"">Issuing a press statement, the federation said it is always ready to provide the required ICT materials and other support in this regard.</span></span></span></span></p> <p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:12.0pt"><span style="font-family:"Times New Roman"">The federation has also sought attention of the government to consider the ICT services as essential one. It further states that telecommunication service is classified as essential service but purchase and repair of computer related devices are not allowed. Likewise, online classes are running but operation of business related to maintenance of computers and mobile phones are prohibited which might risk the effectiveness of prohibitory order in the days to come. </span></span></span></span></p> <p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:12.0pt"><span style="font-family:"Times New Roman"">CAN Federation has asked the government to make necessary arrangements to facilitate home delivery service as buying items online is convenient at this time. Similarly, it has also requested the concerned authorities to promote e-banking for the purchase of daily essentials.</span></span></span></span></p> <p> </p> ', 'published' => true, 'created' => '2021-05-21', 'modified' => '2021-05-21', 'keywords' => '', 'description' => '', 'sortorder' => '13168', 'image' => '20210521104816_27524978.jpg', 'article_date' => '2021-05-21 10:47:40', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 4 => array( 'Article' => array( 'id' => '13422', 'article_category_id' => '1', 'title' => 'Five Companies Apply for License of Reinsurance Company', 'sub_title' => '', 'summary' => 'May 20: Five new companies have submitted applications to the Insurance Board for establishing a new reinsurance company.', 'content' => '<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:12.0pt"><span style="font-family:"Times New Roman"">May 20: Five new companies have submitted applications to the Insurance Board for establishing a new reinsurance company. The board had called for applications to establish a new reinsurance company with private investment. </span></span></span></span></p> <p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:12.0pt"><span style="font-family:"Times New Roman"">The Insurance Board has received five applications until the last day for submission of applications on May 19. It had published a notice on April 29 seeking applications from the private sector. Applications were sought for opening a new reinsurance company to make the insurance market more competitive, effective and productive. </span></span></span></span></p> <p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:12.0pt"><span style="font-family:"Times New Roman"">Companies namely Kathmandu Reinsurance Company, Annapurna Reinsurance Company, Prudential Reinsurance Company, Himalayan Reinsurance Company and Genuine Reinsurance Company have submitted applications to the board. </span></span></span></span></p> <p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:12.0pt"><span style="font-family:"Times New Roman"">Raju Raman Poudel, executive director of the board, confirmed that applications have been received from five companies. The board will study the applications properly before taking any further steps.</span></span></span></span></p> <p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:12.0pt"><span style="font-family:"Times New Roman"">Currently only one state-owned reinsurance company -- Nepal Reinsurance Company -- is in operation in the country.</span></span></span></span></p> <p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:12.0pt"><span style="font-family:"Times New Roman"">Poudel said that the board received more applications that they were expecting.</span></span></span></span></p> <p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:12.0pt"><span style="font-family:"Times New Roman"">"During the evaluation process, the company receiving the highest marks will get the license for operation," he added. </span></span></span></span></p> <p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:12.0pt"><span style="font-family:"Times New Roman"">Former Finance Minister Yuba Raj Khatiwada had been stressing on the need of a new reinsurance company. Since then, the board had been studying this prospect by forming a committee. The study had recommended the need of an additional reinsurance company. Then the board started preparations to set up a new reinsurance company.</span></span></span></span></p> <p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:12.0pt"><span style="font-family:"Times New Roman"">According to Poudel it is not possible to ask the companies that have submitted applications to collaborate and come together. It would have been possible if the number of applicants were few. He said that only one of the five applicants will receive a license to set up a new reinsurance company.</span></span></span></span></p> <p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:12.0pt"><span style="font-family:"Times New Roman"">The board has also set various criteria and conditions for the new reinsurance company. The companies will be evaluated on the basis of those criteria. The proposed company should have a paid-up capital of Rs 10 billion. Likewise, investors of Nepal Reinsurance Company, which is currently in operation, are not allowed to invest in the proposed company. </span></span></span></span></p> <p> </p> ', 'published' => true, 'created' => '2021-05-20', 'modified' => '2021-05-20', 'keywords' => '', 'description' => '', 'sortorder' => '13167', 'image' => '20210520071206_20210315114314_20200630093335_Reinsurance.jpg', 'article_date' => '2021-05-20 19:11:26', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 5 => array( 'Article' => array( 'id' => '13421', 'article_category_id' => '1', 'title' => 'SC Orders Government not to Fine Taxpayers during Lockdown ', 'sub_title' => '', 'summary' => 'May 20: The Supreme Court has issued an interim order asking the government not to fine taxpayers for the delay in submission of VAT and tax within the stipulated deadline', 'content' => '<p><span style="font-size:12pt"><span style="font-family:Cambria"><span style="font-family:Arial">May 20: The Supreme Court has issued an interim order asking the government not to fine taxpayers for the delay in submission of VAT and tax within the stipulated deadline taking into consideration the enforcement of prohibitory order in most parts of the country. </span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:Cambria"><span style="font-family:Arial">The interim order in the name of the government has brought relief to the private sector affected by the prohibitory order aimed at curbing the Covid-19 outbreak.</span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:Cambria"><span style="font-family:Arial">Hearing on a writ petition filed by advocate Srijana Adhikari, a single bench of Justice Meera Khadka on Wednesday, May 19, ordered the government not to fine private companies failing to fill the value-added tax details and tax on time due to the lockdown.</span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:Cambria"><span style="font-family:Arial">"Do not collect fines from the companies failing to fill the value-added tax statement and tax on time due to the lockdown," the order states. </span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:Cambria"><span style="font-family:Arial">“Necessary arrangements should be made to pay the taxes within 30 days after the lockdown is lifted," the order added. </span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:Cambria"><span style="font-family:Arial">The order has also asked the finance ministry to submit a written reply in this regard within 15 days. </span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:Cambria"><span style="font-family:Arial">Adhikari had filed a writ petition against the Inland Revenue Department alleging the office for imposing the fine without providing sufficient information regarding tax submission on the website.</span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:Cambria"><span style="font-family:Arial">Last year, the government had allocated a time limit for the private sector to submit VAT and tax during the lockdown, which is not the case during the ongoing prohibitory order. Most districts in Nepal are currently under prohibitory orders since late April.</span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:Cambria"><span style="font-family:Arial">However, the Inland Revenue Department has been urging the taxpayers to submit the details including tax payment through various means.</span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:Cambria"><span style="font-family:Arial">The private sector had demanded the government to extend the period for submitting tax details and to extend the tax payment period, citing the ongoing lockdown and the employees suffering from Covid-19. However, the government has intensified tax collection, saying that it is in no hurry to make a decision. </span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:Cambria"><span style="font-family:Arial">Entrepreneurs say that the private sector is relieved from the court order. Chairman of Nepal Chamber of Commerce Rajendra Malla said that the recent monetary policy and Supreme Court order have given some respite to the private sector.</span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:Cambria"><span style="font-family:Arial">"We, the industrialists and businessmen, are the citizens of this country and we know that we have to abide by the law. But given the difficult situation, we asked the government to give us time to pay taxes and submit details. However, the governmrnt did not show any concern," said Malla.</span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:Cambria"><span style="font-family:Arial">The order of the Supreme Court and the provision of the monetary policy should be implemented in a way to benefit the private sector, added Malla.</span></span></span></p> <p> </p> <p><span style="font-size:12pt"><span style="font-family:Cambria"> </span></span></p> <p><br /> <br /> <br /> <br /> </p> <p> </p> ', 'published' => true, 'created' => '2021-05-20', 'modified' => '2021-05-20', 'keywords' => '', 'description' => '', 'sortorder' => '13166', 'image' => '20210520014546_20201127115547_20200417094838_CKC_ktm.jpg', 'article_date' => '2021-05-20 13:45:06', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 6 => array( 'Article' => array( 'id' => '13420', 'article_category_id' => '1', 'title' => 'NATTA urges Government to Facilitate Safe Return of Tourists', 'sub_title' => '', 'summary' => 'May 20: Nepal Association of Tour and Travel Agents (NATTA) has urged the government to create a favourable environment for foreign visitors to return home from Nepal. ', 'content' => '<p><span style="font-family:Arial,Helvetica,sans-serif"><span style="font-size:18px">May 20: Nepal Association of Tour and Travel Agents (NATTA) has urged the government to create a favourable environment for foreign visitors to return home from Nepal. <br /> Issuing a recent press statement, Acting President of NATTA, Binay Basnet, urged the government to facilitate in the return of foreign tourists who are stranded in Nepal. <br /> According to NATTA, the foreign tourists are stranded due to suspension of domestic and international flights amid second wave of Covid-19. <br /> NATTA has also urged the government to collect data of foreign tourists in Nepal and to operate two to three international flights per week to airlift the visitors.</span></span></p> <p><span style="font-family:Arial,Helvetica,sans-serif"><span style="font-size:18px">The umbrella body of travel agents also urged the government to give permission for regular flights from May 25 onwards. It also drew the attention of the government to grant permission for chartered flights for international destinations. <br /> </span></span></p> ', 'published' => true, 'created' => '2021-05-20', 'modified' => '2021-05-20', 'keywords' => '', 'description' => '', 'sortorder' => '13165', 'image' => '20210520114517_20200930115831_1601420205.89.jpg', 'article_date' => '2021-05-20 11:44:13', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 7 => array( 'Article' => array( 'id' => '13419', 'article_category_id' => '1', 'title' => 'Himalayan Airlines Airlifts Stranded Indian Nationals from Kathmandu to Saudi Arabia', 'sub_title' => '', 'summary' => 'May 19: Himalaya Airlines operated three chartered flights to airlift stranded Indian nationals from Kathmandu to Dammam, Saudi Arabia, on Tuesday (May 18).', 'content' => '<p><span style="font-size:12pt"><span style="font-family:Cambria">May 19: Himalaya Airlines operated three chartered flights to airlift stranded Indian nationals from Kathmandu to Dammam, Saudi Arabia, on Tuesday (May 18).<br /> Himalaya Airlines scheduled the chartered flights in line with the Government of Nepal’s decision to transport stranded Indian nationals from Kathmandu to Saudi Arabia.<br /> The airline company confirmed to New Business Age that the three flights took off from Kathamndu for Dammam on May 18. However, the airline company said it boarded passengers up to 85 percent of its capacity amid safety concerns regarding transmission of coronavirus.<br /> The airlines scheduled the three chartered flights- H9-5761, H9-5751, and H9-5601- to Dammam from Kathmandu on May 18 at 8:50 am, 11:40 am, and 21:50 local time.<br /> The airline company charged USD 820 for one-way fare. Passengers were allowed to load 30 kg check-in baggage, and 7 kg hand-carry.<br /> Similarly, passengers were required to present proof of PCR negative certificate, at the time of boarding the flight.<br /> It is mandatory for all passengers to stay in quarantine upon reaching Saudi Arabia.</span></span></p> <p> </p> ', 'published' => true, 'created' => '2021-05-19', 'modified' => '2021-05-19', 'keywords' => '', 'description' => '', 'sortorder' => '13164', 'image' => '20210519041501_20190402115618_A320.jpg', 'article_date' => '2021-05-19 16:14:05', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 8 => array( 'Article' => array( 'id' => '13418', 'article_category_id' => '1', 'title' => 'NAST Succeeds in Test Production of Oxygen Cylinders ', 'sub_title' => '', 'summary' => 'May 19: Nepal Academy of Science and Technology (NAST) has tested the production of oxygen gas cylinder for the first time in Nepal. ', 'content' => '<p><span style="font-size:12pt"><span style="font-family:Cambria"><span style="font-family:"Times New Roman"">May 19: Nepal Academy of Science and Technology (NAST) has tested the production of oxygen gas cylinder for the first time in Nepal. At a time when oxygen cylinders are in short supply, new cylinders are being manufactured and tested within the country. </span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:Cambria"><span style="font-family:"Times New Roman"">The test started after Minister for Education Krishna Gopal Shrestha inspected the production facility on Tuesday, May 18, 2021. </span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:Cambria"><span style="font-family:"Times New Roman"">Shrestha expressed commitment to take initiative to fulfill the shortage of zeolite used for making oxygen. Furthermore, he said that the government would extend full support to this initiative of NAST. </span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:Cambria"><span style="font-family:"Times New Roman"">Stating that there is no oxygen production plant in big hospitals, he said, “If the provision of an oxygen plant was made mandatory in the hospital when giving permission to operate hospitals in the past, there would have been no shortage at present.” </span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:Cambria"><span style="font-family:"Times New Roman"">With the success of the test, the government will now give permission to various companies to produce cylinders to meet the demand. Chief of the Faculty of Technology at NAST, Dr Rabindra Dhakal, said commercial production will be allowed after discussing with the manufacturing companies. </span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:Cambria"><span style="font-family:"Times New Roman"">According to him, the minimum price of a cylinder available in the country costs around Rs 15,000, while the cylinders produced with the technology of NAST will cost less than Rs 10,000. </span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:Cambria"><span style="font-family:"Times New Roman"">Minister Shrestha, who arrived at NAST’s headquarters in Lalitpur to observe the test, appreciated the team including vice chancellor Dr Sunil Babu Shrestha and scientist Shankar Dhakal. </span></span></span></p> <p> </p> <p> </p> ', 'published' => true, 'created' => '2021-05-19', 'modified' => '2021-05-19', 'keywords' => '', 'description' => '', 'sortorder' => '13163', 'image' => '20210519040512_20210503015716_20210429095930_Medical-Oxygen-Gas-Cylinders-Market.jpg', 'article_date' => '2021-05-19 16:04:00', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 9 => array( 'Article' => array( 'id' => '13417', 'article_category_id' => '1', 'title' => 'Revenue Advisory Committee Recommends the Government to Monitor Ecommerce Sector', 'sub_title' => '', 'summary' => 'May 19: The Revenue Advisory Committee has recommended the government to monitor ecommerce businesses and digital payment to facilitate revenue collection in the country. ', 'content' => '<p><span style="font-size:12pt"><span style="font-family:Cambria"><span style="font-family:"Times New Roman"">May 19: The Revenue Advisory Committee has recommended the government to monitor ecommerce businesses and digital payment to facilitate revenue collection in the country. In a report submitted to the Ministry of Finance (MoF), the committee has suggested the government to formulate tax policies to sustain the growing online business that has boomed with the COVID-19 pandemic and bring it under the network of tax. </span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:Cambria"><span style="font-family:"Times New Roman"">The report submitted to the Finance Minister Bishnu Poudel suggests programmes that the government should include in the budget of the upcoming fiscal year. It has also suggested the government to bring timely reforms in the tax system. </span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:Cambria"><span style="font-family:"Times New Roman"">The report states that a detailed study is required to change the revenue structure. It has suggested to look into the demands raised by the private sector regarding VAT issue and form an appropriate policy. </span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:Cambria"><span style="font-family:"Times New Roman"">Other subject matters of the report include providing compensation packages to the tourism and service sectors, review customs revenue, changing excise duty structure and studying the rate of excise duty being levied on special items. It has recommended the government to adopt a policy that avoids duplication of tax in the three levels of the government.</span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:Cambria"><span style="font-family:"Times New Roman"">Mahesh Dahal, chairman of the committee, said that suggestions have been provided to the government to adopt investment-friendly tax policies to increase production, employment opportunities and attract private sector investment. </span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:Cambria"><span style="font-family:"Times New Roman"">"The report has recommended the government to be mindful of new areas of tax as well as tax policies that the government should introduce in the upcoming fiscal year," said Dahal.</span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:Cambria"><span style="font-family:"Times New Roman"">The Revenue Advisory Committee is an independent body that has been providing recommendations to the Ministry of Finance to carry out tax reforms since 2019. It is authorized to act as a think tank on revenue issues. It carries out interactive programmes in all seven provinces with the participation of the private sector to gather revenue-related recommendations. </span></span></span></p> <p><br /> </p> ', 'published' => true, 'created' => '2021-05-19', 'modified' => '2021-05-19', 'keywords' => '', 'description' => '', 'sortorder' => '13162', 'image' => '20210519021352_20210314014808_20190408115552_20160717125003_finance-ministy.jpg', 'article_date' => '2021-05-19 14:12:50', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 10 => array( 'Article' => array( 'id' => '13416', 'article_category_id' => '1', 'title' => 'Nepal Rastra Bank rules out possibility of achieving 4% growth as projected by CBS ', 'sub_title' => '', 'summary' => 'Nepal Rastra Bank (NRB) has said that 4.01 percent of economic growth in the curent fiscal year 20120/21 as projected by the Central Bureau of Statistics is now difficult to achieve. ', 'content' => '<p>May 19: Nepal Rastra Bank (NRB) has said that 4.01 percent of economic growth in the curent fiscal year (FY20120/21) as projected by the Central Bureau of Statistics (CBS) is now difficult to achieve. </p> <p>Releasing its third quarterly report of the monetary policy for the current fiscal year on Wednesday, the central bank ruled out the possibility of achieving the growth of 4.01 percent as estimated by the CBS in April. </p> <p>Stating that the economy was heading toward recovery until nine months of the current fiscal year, the central bank said that the second wave of Covid-19 and subsequent prohbitory measures introduced in many parts of the country pose a challenge even to achieve the economic growth rate of 4 percent. </p> <p>“Economic activities were gaining momentum after the lockdown was lifted following the decline in first wave of Covid-19 infection. Against this backdrop, the CBS projects the economy to grow by 4 percent,” read the third quarterly report of the monetary policy. “However, it is difficult to achieve the estimated growth as the second wave is hitting the economy before the revival,” it added. </p> <p>Earlier on April 30, the CBS had made a preliminary estimate of 4.01 percent of economic growth in the current fiscal year from a contraction of 2.1 percent in the previous fiscal year. The estimate, based on available information and figures of seven to nine months of the current fiscal year, did not take into consideration the impacts of prohibitory measures introduced by local administrations in many parts of the country to control the spread of the second wave of coronavirus. </p> <p>Though the CBS officials had said that their projection was based on an assumption that all economic activities will operate in normal condition after two weeks, the ongoing lockdown, imposed through prohibitory orders from April 29, is already extended till May 27 in the Kathmandu Valley. </p> <p><br /> </p> ', 'published' => true, 'created' => '2021-05-19', 'modified' => '2021-05-19', 'keywords' => '', 'description' => '', 'sortorder' => '13161', 'image' => '20210519124440_20210430085017_CBS Growth.jpg', 'article_date' => '2021-05-19 12:34:40', 'homepage' => true, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => false, 'user_id' => '35' ) ), (int) 11 => array( 'Article' => array( 'id' => '13415', 'article_category_id' => '1', 'title' => 'Central Bank Tells BFIs to Save Lives under CSR', 'sub_title' => '', 'summary' => 'May 19: Nepal Rastra Bank (NRB) has directed banks and financial institutions to support people suffering from Covid-19 with oxygen supply and medical aid under their Corporate Social Responsibility (CSR).', 'content' => '<p><span style="font-size:11pt"><span style="font-family:Cambria"><span style="font-size:14.0pt"><span style="font-family:"Arial Unicode MS"">May 19</span></span><strong><span style="font-size:14.0pt"><span style="font-family:"Arial Unicode MS"">: </span></span></strong><span style="font-size:14.0pt"><span style="font-family:"Arial Unicode MS"">Nepal Rastra Bank (NRB) has directed banks and financial institutions to support people suffering from Covid-19 with oxygen supply and medical aid under their Corporate Social Responsibility (CSR).</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Cambria"><span style="font-size:14.0pt"><span style="font-family:"Arial Unicode MS"">The central bank issued such directive on May 18 in the third quarterly review of the monetary policy of the current fiscal year. </span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Cambria"><span style="font-size:14.0pt"><span style="font-family:"Arial Unicode MS"">This is expected to help the treatment of COVID-19 infected patients, the central bank said. </span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Cambria"><span style="font-size:14.0pt"><span style="font-family:"Arial Unicode MS"">"Under the CSR, arrangement shall be made to contribute funds to save people's lives in public interest and philanthropic works across the country," the state-owned national news agency RSS quoted the central bank as saying.</span></span></span></span></p> <p> </p> <p> </p> ', 'published' => true, 'created' => '2021-05-19', 'modified' => '2021-05-19', 'keywords' => '', 'description' => '', 'sortorder' => '13160', 'image' => '20210519123138_20200419015315_bank-malware.jpg', 'article_date' => '2021-05-19 12:30:29', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => false, 'user_id' => '34' ) ), (int) 12 => array( 'Article' => array( 'id' => '13411', 'article_category_id' => '1', 'title' => 'Banks will not be Allowed to Auction Collateral Until One Month after Prohibitory Period: NRB', 'sub_title' => 'NRB also to ban BFIs from imposing penalty, additional charges on borrowers during prohibitory period ', 'summary' => '', 'content' => '<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt">May 18: Nepal Rastra Bank (NRB) has announced to forbid banks and financial institutions (BFIs) from publishing notices for auctioning collateral or recovering loans during the prohibitory period. This new provision will remain in force until one month after the prohibitory orders are lifted by the government authorities.</span></span></span></p> <p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt">Releasing the third quarterly review report of the monetary policy of the current fiscal year (FY 2020/21), the central bank said that it will make necessary arrangements to bar BFIs from publishing public notices to auction collaterals to recover their loans from borrowers during and after one month of the prohibitory period.<br /> The restriction to recover loans through auction will come into force after the central bank issues a circular to the BFIs to implement the provision, according to NRB officials who say that the circular will be issued 'soon'. </span></span></span></p> <p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt">The provision aims at providing protection to borrowers from BFIs auctioning their collateral to recover loans until one month after the prohibitory period ends.</span></span></span></p> <p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt">“The provision is intended to stop banks and financial institutions from moving ahead with the process of auction to recover loans from defaulters during this crisis. There won’t be much participation in the bank auction during the prohibitory period, either. Halting the recovery of loans through auction will also provide a relief to the borrowers who are hit hard by the Covid-19 pandemic,” Dev Kumar Dhakal, spokesperson of NRB, told New Business Age. </span></span></span></p> <p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt">Similarly, the NRB, in its third quarterly monetary policy review report, said that it will also introduce a provision to prohibit BFIs from imposing any penalty or other additional charges in loan repayment from borrowers during the prohibition period. <br /> </span></span></span></p> <p> </p> ', 'published' => true, 'created' => '2021-05-18', 'modified' => '2021-05-18', 'keywords' => '', 'description' => '', 'sortorder' => '13159', 'image' => '20210518043705_Nepal Rastra Bank.jpg', 'article_date' => '2021-05-18 16:30:01', 'homepage' => true, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => false, 'user_id' => '35' ) ), (int) 13 => array( 'Article' => array( 'id' => '13414', 'article_category_id' => '1', 'title' => '2,500 Oxygen Cylinders Imported from China via Tatopani Customs Point', 'sub_title' => '', 'summary' => 'May 18: With the increase in number of Covid-19 cases, the government has stepped up efforts to facilitate the import oxygen cylinders from China via Tatopani customs. ', 'content' => '<p><em>This file photo shows Tatopani Customs Point. Photo: NBA</em></p> <p><span style="font-size:12pt"><span style="font-family:Cambria"><span style="font-family:"Times New Roman"">May 18</span><span style="font-size:10.0pt"><span style="font-family:Times">: </span></span><span style="font-family:"Times New Roman"">With the increase in number of Covid-19 cases, the government has stepped up efforts to facilitate the import oxygen cylinders from China via Tatopani customs. </span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:Cambria"><span style="font-family:"Times New Roman"">Nepali businessmen had placed order for 18,000 empty oxygen cylinders, among which, 2,500 cylinders have been brought to the Tatopani customs point on Monday (May 17).</span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:Cambria"><span style="font-family:"Times New Roman"">The cylinders would be sent to the Kathmandu after physical inspection, said Tatopani Customs Chief Naradmani Gautam.</span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:Cambria"><span style="font-family:"Times New Roman"">“The government has directed us not to queue health-related items. Since the items are not eligible for taxation, the customs clearance procedures are being sped up in order to deliver the goods to Kathmandu soon,” said Gautam. The cylinders have been brought to Tatopani Customs from Khasa by following the proper health and safety measures, he added.</span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:Cambria"><span style="font-family:"Times New Roman"">The cylinders of 10 litre capacity were imported by Hima Trade Link. Ramesh Sherpa, chairman of the transport company, Silk Transport, mentioned that 15,000 additional oxygen cylinders, other health items and equipment have also arrived at Lhasa, Membu, Shigatse, Nyalam regions of China. He also notified that it would take approximately two weeks for those items to arrive at Tatopani Customs Point.</span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:Cambria"><span style="font-family:"Times New Roman"">Chairman Sherpa informed that the health items imported by Nepali businessmen include PPE sets, surgical masks, sanitizers and gloves. The Chinese administration has notified that the oxygen cylinders and health items that have arrived at Khasa region would be sent to Nepal only after the completion of medical protocol, he added.</span></span></span></p> <p> </p> <p> </p> ', 'published' => true, 'created' => '2021-05-18', 'modified' => '2021-05-18', 'keywords' => '', 'description' => '', 'sortorder' => '13158', 'image' => '20210518054607_20190510014655_Clipboard04-2.jpg', 'article_date' => '2021-05-18 17:45:07', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 14 => array( 'Article' => array( 'id' => '13413', 'article_category_id' => '1', 'title' => 'Finance Minister Instructs Officials to Ease Customs Clearance of Oxygen Cylinders', 'sub_title' => '', 'summary' => 'May 18: Finance Minister Bishnu Prasad Paudel has instructed concerned officials to ease the customs clearance process for importing oxygen cylinders and other medical equipment taking into consideration the current health crisis. ', 'content' => '<p><span style="font-size:16px"><span style="font-family:Cambria"><span style="font-family:"Times New Roman"">May 18: Finance Minister Bishnu Prasad Paudel has instructed concerned officials to ease the customs clearance process for importing oxygen cylinders and other medical equipment taking into consideration the current health crisis. </span></span></span></p> <p><span style="font-size:16px"><span style="font-family:Cambria"><span style="font-family:"Times New Roman"">He has directed the government bodies to ease and speed up the customs clearance of health supplies, equipment and medicines related to the prevention, treatment and control of Covid-19.</span></span></span></p> <p><span style="font-size:16px"><span style="font-family:Cambria"><span style="font-family:"Times New Roman"">In a virtual discussion held between the concerned bodies, Finance Minister Paudel directed the director general and deputy director general of the Department of Customs and heads of various customs offices to ease the supply by facilitating customs clearance and inspection without any hassles.</span></span></span></p> <p><span style="font-size:16px"><span style="font-family:Cambria"><span style="font-family:"Times New Roman"">Finance Minister Bishnu Paudel also instructed the officials to submit daily report containing information about the quantity and price of imported goods for the treatment of Covid-19.</span></span></span></p> <p><span style="font-size:16px"><span style="font-family:Cambria"><span style="font-family:"Times New Roman"">Finance Secretary Shishir Kumar Dhungana issued a directive to implement a brief procedure on customs clearance of goods related to prevention, control and treatment of Covid-19.</span></span></span></p> <p><span style="font-size:16px"><span style="font-family:Cambria"><span style="font-family:"Times New Roman"">Revenue Secretary Ram Saran Pudasaini instructed the officials to work effectively round the clock in coordination with the customs offices of the neighboring countries for speedy inspection.</span></span></span></p> <p><span style="font-size:16px"><span style="font-family:Cambria"><span style="font-family:"Times New Roman"">Yamlal Bhusal, director general of the Department of Customs, said that the department has formed a quick response team to facilitate the supply of essential items.</span></span></span></p> ', 'published' => true, 'created' => '2021-05-18', 'modified' => '2021-05-18', 'keywords' => '', 'description' => '', 'sortorder' => '13157', 'image' => '20210518053658_20201015115013_1602717511.Clipboard02.jpg', 'article_date' => '2021-05-18 17:35:53', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ) ) $current_user = null $logged_in = falseinclude - APP/View/Elements/side_bar.ctp, line 60 View::_evaluate() - CORE/Cake/View/View.php, line 971 View::_render() - CORE/Cake/View/View.php, line 933 View::_renderElement() - CORE/Cake/View/View.php, line 1224 View::element() - CORE/Cake/View/View.php, line 418 include - APP/View/Articles/index.ctp, line 157 View::_evaluate() - CORE/Cake/View/View.php, line 971 View::_render() - CORE/Cake/View/View.php, line 933 View::render() - CORE/Cake/View/View.php, line 473 Controller::render() - CORE/Cake/Controller/Controller.php, line 968 Dispatcher::_invoke() - CORE/Cake/Routing/Dispatcher.php, line 200 Dispatcher::dispatch() - CORE/Cake/Routing/Dispatcher.php, line 167 [main] - APP/webroot/index.php, line 117
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', 'content' => '<p><span style="font-size:11pt"><span style="font-family:Cambria"><span style="font-size:15.0pt"><span style="font-family:Times">May 21: Australia will provide an additional AUD $7 million (NPR 635 million) in funding to Nepal to support the response to COVID-19. </span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Cambria"><span style="font-size:15.0pt"><span style="font-family:Times">The Australian Embassy said in a statement that this funding is part of a AUD $17.5 million package to support Bangladesh, Nepal and Sri Lanka, to strengthen the resilience of the South Asian region.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Cambria"><span style="font-size:15.0pt"><span style="font-family:Times">Australia’s contribution will boost Nepal’s ability to address COVID-19, including through the procurement of essential equipment and health supplies, such as oxygen for provincial hospitals and personal protective equipment for health workers, the statement added.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Cambria"><span style="font-size:15.0pt"><span style="font-family:Times">“This funding will be delivered to our trusted and established partners working on-the-ground across Nepal, in coordination with the work being undertaken by other donors including the US, UK, Japan and UN agencies,” read the statement issued on May 21.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Cambria"><span style="font-size:15.0pt"><span style="font-family:Times">The statement further said that the Australian Government continues to support the provision of safe and effective COVID-19 vaccines to Nepal, including through their support to COVAX.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Cambria"><span style="font-size:15.0pt"><span style="font-family:Times">Australia’s Ambassador to Nepal Felicity Volk said Australia is working to support the most heavily impacted communities in Nepal.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Cambria"><span style="font-size:15.0pt"><span style="font-family:Times">“Australia and Nepal have a long-standing friendship and a history of supporting each other during times of crisis. Australia is deeply concerned about the devastating impact that COVID-19 is having across Nepal and the region. With this assistance, we will partner with the Government of Nepal to respond to urgent health needs, including providing support to regional hospitals and vulnerable communities,” the statement quoted the Australian ambassador as saying.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Cambria"> </span></span></p> ', 'published' => true, 'created' => '2021-05-21', 'modified' => '2021-05-21', 'keywords' => '', 'description' => '', 'sortorder' => '13171', 'image' => '20210521023834_Flag-Pins-Ne.jpg', 'article_date' => '2021-05-21 14:37:49', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 1 => array( 'Article' => array( 'id' => '13425', 'article_category_id' => '1', 'title' => 'Seven Chartered Flights Operated in Last 10 Days', 'sub_title' => '', 'summary' => 'May 21: A total of seven chartered flights have been operated from Nepal in the last ten days, mainly to carry Indian nationals to various Middle-East countries from Kathmandu. ', 'content' => '<p><span style="font-size:12pt"><span style="font-family:Cambria"><span style="font-family:"Times New Roman"">May 21: A total of seven chartered flights have been operated from Nepal in the last ten days, mainly to carry Indian nationals to various Middle-East countries from Kathmandu. </span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:Cambria"><span style="font-family:"Times New Roman"">According to the Civil Aviation Authority of Nepal, seven chartered flights for passengers have been operated between May 10 and 19. </span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:Cambria"><span style="font-family:"Times New Roman"">According to CAAN, Himalaya Airlines operated four flights, followed by Nepal Airlines (3), and Qatar Airways (1) during this period. </span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:Cambria"><span style="font-family:"Times New Roman"">Himalaya Airlines operated a charter flight to Hazrat Shahjalal International Airport, Dhaka, on May 10 and three chartered flights to King Fahd International Airport, Dammam, on May 18. </span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:Cambria"><span style="font-family:"Times New Roman"">Likewise, Nepal Airlines operated a chartered flight to King Fahd International Airport, Dammam, and King Khalid International Airport, Riyad each on May 18 and 19. </span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:Cambria"><span style="font-family:"Times New Roman"">Similarly, Qatar Airways took off from Kathmandu for Vnukovo International Airport, Moscow, on May 11. </span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:Cambria"><span style="font-family:"Times New Roman"">Meanwhile, three evacuation flights were operated by three different foreign national flag carriers during this period. </span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:Cambria"><span style="font-family:"Times New Roman"">Qatar Airway, Turkish Airlines, and PJSC Aeroflot operated an evacuation flight each on 16th, 17th, and 18th May to Doha, Istanbul, and Khimki respectively for evacuating foreigners from Nepal. </span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:Cambria"><span style="font-family:"Times New Roman"">Likewise, CAAN has approved three additional evacuation flights scheduled for May 22, 23, and 24. </span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:Cambria"><span style="font-family:"Times New Roman"">Qatar Airways and Turkish Airlines will be operating the evacuation flights from Kathmandu to Doha and Istanbul respectively. </span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:Cambria"><span style="font-family:"Times New Roman"">Meanwhile, the Indian Embassy in Kathmandu and various media outlets have criticized airlines for charging exorbitant airfare for chartered flights. </span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:Cambria"><span style="font-family:"Times New Roman"">Meanwhile, Himalaya Airlines has expressed its concern over the allegation. </span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:Cambria"><span style="font-family:"Times New Roman"">The airlines wrote to New Business Age that it sold the air tickets as per the Global Distribution System to make it convenient for the passengers. </span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:Cambria"><span style="font-family:"Times New Roman"">"To compete in agency services as well, any local travel agency registered with the International Aviation Industry Association (IATA) will be able to sell tickets and passengers will be able to buy tickets with a travel agency that suits them," a press statement of the airlines reads.</span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:Cambria"><span style="font-family:"Times New Roman"">"All the tickets have been sold through the global ticket distribution system which is accessible to all the agencies and all the fares are also accessible to all the agencies through this system. The system is completely transparent and competitive between agencies, from which passengers can benefit from the quality of service and service charges. Since these flights have to carry one-way passengers, that is, the aircraft has to be brought back empty, it is natural that the fares will be proportionally higher than the regular flights," the statement further added.</span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:Cambria"><span style="font-family:"Times New Roman"">Himalaya Airlines said it believes that agencies do not charge exorbitant fees. However, if an agency submits evidence of unduly excessive charges to a passenger, the airline company will recommend to the relevant regulatory body for necessary action.</span></span></span></p> <p> </p> ', 'published' => true, 'created' => '2021-05-21', 'modified' => '2021-05-21', 'keywords' => '', 'description' => '', 'sortorder' => '13170', 'image' => '20210521022538_20191020090205_aaaa.jpg', 'article_date' => '2021-05-21 14:24:57', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 2 => array( 'Article' => array( 'id' => '13424', 'article_category_id' => '1', 'title' => 'MPs Given Deadline Until 5PM Today to Choose New Prime Minister', 'sub_title' => '', 'summary' => 'May 21: President Bidya Devi Bhandari has initiated the process of formation of a new government in accordance with Article 76 (5) of the Constitution of Nepal.', 'content' => '<p><em>President Bidya Devi Bhandari. Photo Courtesy: Government of Nepal</em></p> <p><span style="font-size:11pt"><span style="font-family:Cambria"><span style="font-family:"Arial Unicode MS"">May 21: President Bidya Devi Bhandari has initiated the process of formation of a new government in accordance with Article 76 (5) of the Constitution of Nepal.</span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Cambria"><span style="font-family:"Arial Unicode MS"">The president has called upon the Members of Parliament (MPs) to submit their claim for the premiership till 5:00 pm on May 21. </span><br /> <span style="font-family:"Arial Unicode MS"">Deputy Spokesperson at the Office of the President, Keshav Prasad Ghimire, informed that the president made such call to initiate the process for the appointment of a new prime minister upon the request of Prime Minister KP Sharma Oli. </span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Cambria"><span style="font-family:"Arial Unicode MS""> The Council of Ministers had decided on May 20 to initiate a new process to appoint the prime minister in accordance with Article 76 (5). </span></span></span></p> ', 'published' => true, 'created' => '2021-05-21', 'modified' => '2021-05-21', 'keywords' => '', 'description' => '', 'sortorder' => '13169', 'image' => '20210521110826_Rt._Hon._President-819x1024.jpg', 'article_date' => '2021-05-21 11:07:24', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 3 => array( 'Article' => array( 'id' => '13423', 'article_category_id' => '1', 'title' => 'CAN Federation Urges Government to Maximize use of ICT to Contain Coronavirus', 'sub_title' => '', 'summary' => 'May 21: The Federation of Computer Association Nepal (CAN) has urged all the stakeholders to make the optimal use of Information and Communication Technologies (ICT) to contain the second wave of coronavirus.', 'content' => '<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:12.0pt"><span style="font-family:"Times New Roman"">May 21: The Federation of Computer Association Nepal (CAN) has urged all the stakeholders to make the optimal use of Information and Communication Technologies (ICT) to contain the second wave of coronavirus.</span></span></span></span></p> <p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:12.0pt"><span style="font-family:"Times New Roman"">In light of the increasing new COVID-19 infections and patients not getting ICU beds, CAN Federation has requested the government to provide real time information with use of ICT. It has sought attention of the government and concerned stakeholders for updating the information uploaded on Health Management Information System (HMIS) on an hourly basis instead of a daily basis. </span></span></span></span></p> <p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:12.0pt"><span style="font-family:"Times New Roman"">Issuing a press statement, the federation said it is always ready to provide the required ICT materials and other support in this regard.</span></span></span></span></p> <p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:12.0pt"><span style="font-family:"Times New Roman"">The federation has also sought attention of the government to consider the ICT services as essential one. It further states that telecommunication service is classified as essential service but purchase and repair of computer related devices are not allowed. Likewise, online classes are running but operation of business related to maintenance of computers and mobile phones are prohibited which might risk the effectiveness of prohibitory order in the days to come. </span></span></span></span></p> <p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:12.0pt"><span style="font-family:"Times New Roman"">CAN Federation has asked the government to make necessary arrangements to facilitate home delivery service as buying items online is convenient at this time. Similarly, it has also requested the concerned authorities to promote e-banking for the purchase of daily essentials.</span></span></span></span></p> <p> </p> ', 'published' => true, 'created' => '2021-05-21', 'modified' => '2021-05-21', 'keywords' => '', 'description' => '', 'sortorder' => '13168', 'image' => '20210521104816_27524978.jpg', 'article_date' => '2021-05-21 10:47:40', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 4 => array( 'Article' => array( 'id' => '13422', 'article_category_id' => '1', 'title' => 'Five Companies Apply for License of Reinsurance Company', 'sub_title' => '', 'summary' => 'May 20: Five new companies have submitted applications to the Insurance Board for establishing a new reinsurance company.', 'content' => '<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:12.0pt"><span style="font-family:"Times New Roman"">May 20: Five new companies have submitted applications to the Insurance Board for establishing a new reinsurance company. The board had called for applications to establish a new reinsurance company with private investment. </span></span></span></span></p> <p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:12.0pt"><span style="font-family:"Times New Roman"">The Insurance Board has received five applications until the last day for submission of applications on May 19. It had published a notice on April 29 seeking applications from the private sector. Applications were sought for opening a new reinsurance company to make the insurance market more competitive, effective and productive. </span></span></span></span></p> <p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:12.0pt"><span style="font-family:"Times New Roman"">Companies namely Kathmandu Reinsurance Company, Annapurna Reinsurance Company, Prudential Reinsurance Company, Himalayan Reinsurance Company and Genuine Reinsurance Company have submitted applications to the board. </span></span></span></span></p> <p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:12.0pt"><span style="font-family:"Times New Roman"">Raju Raman Poudel, executive director of the board, confirmed that applications have been received from five companies. The board will study the applications properly before taking any further steps.</span></span></span></span></p> <p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:12.0pt"><span style="font-family:"Times New Roman"">Currently only one state-owned reinsurance company -- Nepal Reinsurance Company -- is in operation in the country.</span></span></span></span></p> <p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:12.0pt"><span style="font-family:"Times New Roman"">Poudel said that the board received more applications that they were expecting.</span></span></span></span></p> <p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:12.0pt"><span style="font-family:"Times New Roman"">"During the evaluation process, the company receiving the highest marks will get the license for operation," he added. </span></span></span></span></p> <p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:12.0pt"><span style="font-family:"Times New Roman"">Former Finance Minister Yuba Raj Khatiwada had been stressing on the need of a new reinsurance company. Since then, the board had been studying this prospect by forming a committee. The study had recommended the need of an additional reinsurance company. Then the board started preparations to set up a new reinsurance company.</span></span></span></span></p> <p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:12.0pt"><span style="font-family:"Times New Roman"">According to Poudel it is not possible to ask the companies that have submitted applications to collaborate and come together. It would have been possible if the number of applicants were few. He said that only one of the five applicants will receive a license to set up a new reinsurance company.</span></span></span></span></p> <p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:12.0pt"><span style="font-family:"Times New Roman"">The board has also set various criteria and conditions for the new reinsurance company. The companies will be evaluated on the basis of those criteria. The proposed company should have a paid-up capital of Rs 10 billion. Likewise, investors of Nepal Reinsurance Company, which is currently in operation, are not allowed to invest in the proposed company. </span></span></span></span></p> <p> </p> ', 'published' => true, 'created' => '2021-05-20', 'modified' => '2021-05-20', 'keywords' => '', 'description' => '', 'sortorder' => '13167', 'image' => '20210520071206_20210315114314_20200630093335_Reinsurance.jpg', 'article_date' => '2021-05-20 19:11:26', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 5 => array( 'Article' => array( 'id' => '13421', 'article_category_id' => '1', 'title' => 'SC Orders Government not to Fine Taxpayers during Lockdown ', 'sub_title' => '', 'summary' => 'May 20: The Supreme Court has issued an interim order asking the government not to fine taxpayers for the delay in submission of VAT and tax within the stipulated deadline', 'content' => '<p><span style="font-size:12pt"><span style="font-family:Cambria"><span style="font-family:Arial">May 20: The Supreme Court has issued an interim order asking the government not to fine taxpayers for the delay in submission of VAT and tax within the stipulated deadline taking into consideration the enforcement of prohibitory order in most parts of the country. </span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:Cambria"><span style="font-family:Arial">The interim order in the name of the government has brought relief to the private sector affected by the prohibitory order aimed at curbing the Covid-19 outbreak.</span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:Cambria"><span style="font-family:Arial">Hearing on a writ petition filed by advocate Srijana Adhikari, a single bench of Justice Meera Khadka on Wednesday, May 19, ordered the government not to fine private companies failing to fill the value-added tax details and tax on time due to the lockdown.</span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:Cambria"><span style="font-family:Arial">"Do not collect fines from the companies failing to fill the value-added tax statement and tax on time due to the lockdown," the order states. </span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:Cambria"><span style="font-family:Arial">“Necessary arrangements should be made to pay the taxes within 30 days after the lockdown is lifted," the order added. </span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:Cambria"><span style="font-family:Arial">The order has also asked the finance ministry to submit a written reply in this regard within 15 days. </span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:Cambria"><span style="font-family:Arial">Adhikari had filed a writ petition against the Inland Revenue Department alleging the office for imposing the fine without providing sufficient information regarding tax submission on the website.</span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:Cambria"><span style="font-family:Arial">Last year, the government had allocated a time limit for the private sector to submit VAT and tax during the lockdown, which is not the case during the ongoing prohibitory order. Most districts in Nepal are currently under prohibitory orders since late April.</span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:Cambria"><span style="font-family:Arial">However, the Inland Revenue Department has been urging the taxpayers to submit the details including tax payment through various means.</span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:Cambria"><span style="font-family:Arial">The private sector had demanded the government to extend the period for submitting tax details and to extend the tax payment period, citing the ongoing lockdown and the employees suffering from Covid-19. However, the government has intensified tax collection, saying that it is in no hurry to make a decision. </span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:Cambria"><span style="font-family:Arial">Entrepreneurs say that the private sector is relieved from the court order. Chairman of Nepal Chamber of Commerce Rajendra Malla said that the recent monetary policy and Supreme Court order have given some respite to the private sector.</span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:Cambria"><span style="font-family:Arial">"We, the industrialists and businessmen, are the citizens of this country and we know that we have to abide by the law. But given the difficult situation, we asked the government to give us time to pay taxes and submit details. However, the governmrnt did not show any concern," said Malla.</span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:Cambria"><span style="font-family:Arial">The order of the Supreme Court and the provision of the monetary policy should be implemented in a way to benefit the private sector, added Malla.</span></span></span></p> <p> </p> <p><span style="font-size:12pt"><span style="font-family:Cambria"> </span></span></p> <p><br /> <br /> <br /> <br /> </p> <p> </p> ', 'published' => true, 'created' => '2021-05-20', 'modified' => '2021-05-20', 'keywords' => '', 'description' => '', 'sortorder' => '13166', 'image' => '20210520014546_20201127115547_20200417094838_CKC_ktm.jpg', 'article_date' => '2021-05-20 13:45:06', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 6 => array( 'Article' => array( 'id' => '13420', 'article_category_id' => '1', 'title' => 'NATTA urges Government to Facilitate Safe Return of Tourists', 'sub_title' => '', 'summary' => 'May 20: Nepal Association of Tour and Travel Agents (NATTA) has urged the government to create a favourable environment for foreign visitors to return home from Nepal. ', 'content' => '<p><span style="font-family:Arial,Helvetica,sans-serif"><span style="font-size:18px">May 20: Nepal Association of Tour and Travel Agents (NATTA) has urged the government to create a favourable environment for foreign visitors to return home from Nepal. <br /> Issuing a recent press statement, Acting President of NATTA, Binay Basnet, urged the government to facilitate in the return of foreign tourists who are stranded in Nepal. <br /> According to NATTA, the foreign tourists are stranded due to suspension of domestic and international flights amid second wave of Covid-19. <br /> NATTA has also urged the government to collect data of foreign tourists in Nepal and to operate two to three international flights per week to airlift the visitors.</span></span></p> <p><span style="font-family:Arial,Helvetica,sans-serif"><span style="font-size:18px">The umbrella body of travel agents also urged the government to give permission for regular flights from May 25 onwards. It also drew the attention of the government to grant permission for chartered flights for international destinations. <br /> </span></span></p> ', 'published' => true, 'created' => '2021-05-20', 'modified' => '2021-05-20', 'keywords' => '', 'description' => '', 'sortorder' => '13165', 'image' => '20210520114517_20200930115831_1601420205.89.jpg', 'article_date' => '2021-05-20 11:44:13', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 7 => array( 'Article' => array( 'id' => '13419', 'article_category_id' => '1', 'title' => 'Himalayan Airlines Airlifts Stranded Indian Nationals from Kathmandu to Saudi Arabia', 'sub_title' => '', 'summary' => 'May 19: Himalaya Airlines operated three chartered flights to airlift stranded Indian nationals from Kathmandu to Dammam, Saudi Arabia, on Tuesday (May 18).', 'content' => '<p><span style="font-size:12pt"><span style="font-family:Cambria">May 19: Himalaya Airlines operated three chartered flights to airlift stranded Indian nationals from Kathmandu to Dammam, Saudi Arabia, on Tuesday (May 18).<br /> Himalaya Airlines scheduled the chartered flights in line with the Government of Nepal’s decision to transport stranded Indian nationals from Kathmandu to Saudi Arabia.<br /> The airline company confirmed to New Business Age that the three flights took off from Kathamndu for Dammam on May 18. However, the airline company said it boarded passengers up to 85 percent of its capacity amid safety concerns regarding transmission of coronavirus.<br /> The airlines scheduled the three chartered flights- H9-5761, H9-5751, and H9-5601- to Dammam from Kathmandu on May 18 at 8:50 am, 11:40 am, and 21:50 local time.<br /> The airline company charged USD 820 for one-way fare. Passengers were allowed to load 30 kg check-in baggage, and 7 kg hand-carry.<br /> Similarly, passengers were required to present proof of PCR negative certificate, at the time of boarding the flight.<br /> It is mandatory for all passengers to stay in quarantine upon reaching Saudi Arabia.</span></span></p> <p> </p> ', 'published' => true, 'created' => '2021-05-19', 'modified' => '2021-05-19', 'keywords' => '', 'description' => '', 'sortorder' => '13164', 'image' => '20210519041501_20190402115618_A320.jpg', 'article_date' => '2021-05-19 16:14:05', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 8 => array( 'Article' => array( 'id' => '13418', 'article_category_id' => '1', 'title' => 'NAST Succeeds in Test Production of Oxygen Cylinders ', 'sub_title' => '', 'summary' => 'May 19: Nepal Academy of Science and Technology (NAST) has tested the production of oxygen gas cylinder for the first time in Nepal. ', 'content' => '<p><span style="font-size:12pt"><span style="font-family:Cambria"><span style="font-family:"Times New Roman"">May 19: Nepal Academy of Science and Technology (NAST) has tested the production of oxygen gas cylinder for the first time in Nepal. At a time when oxygen cylinders are in short supply, new cylinders are being manufactured and tested within the country. </span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:Cambria"><span style="font-family:"Times New Roman"">The test started after Minister for Education Krishna Gopal Shrestha inspected the production facility on Tuesday, May 18, 2021. </span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:Cambria"><span style="font-family:"Times New Roman"">Shrestha expressed commitment to take initiative to fulfill the shortage of zeolite used for making oxygen. Furthermore, he said that the government would extend full support to this initiative of NAST. </span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:Cambria"><span style="font-family:"Times New Roman"">Stating that there is no oxygen production plant in big hospitals, he said, “If the provision of an oxygen plant was made mandatory in the hospital when giving permission to operate hospitals in the past, there would have been no shortage at present.” </span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:Cambria"><span style="font-family:"Times New Roman"">With the success of the test, the government will now give permission to various companies to produce cylinders to meet the demand. Chief of the Faculty of Technology at NAST, Dr Rabindra Dhakal, said commercial production will be allowed after discussing with the manufacturing companies. </span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:Cambria"><span style="font-family:"Times New Roman"">According to him, the minimum price of a cylinder available in the country costs around Rs 15,000, while the cylinders produced with the technology of NAST will cost less than Rs 10,000. </span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:Cambria"><span style="font-family:"Times New Roman"">Minister Shrestha, who arrived at NAST’s headquarters in Lalitpur to observe the test, appreciated the team including vice chancellor Dr Sunil Babu Shrestha and scientist Shankar Dhakal. </span></span></span></p> <p> </p> <p> </p> ', 'published' => true, 'created' => '2021-05-19', 'modified' => '2021-05-19', 'keywords' => '', 'description' => '', 'sortorder' => '13163', 'image' => '20210519040512_20210503015716_20210429095930_Medical-Oxygen-Gas-Cylinders-Market.jpg', 'article_date' => '2021-05-19 16:04:00', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 9 => array( 'Article' => array( 'id' => '13417', 'article_category_id' => '1', 'title' => 'Revenue Advisory Committee Recommends the Government to Monitor Ecommerce Sector', 'sub_title' => '', 'summary' => 'May 19: The Revenue Advisory Committee has recommended the government to monitor ecommerce businesses and digital payment to facilitate revenue collection in the country. ', 'content' => '<p><span style="font-size:12pt"><span style="font-family:Cambria"><span style="font-family:"Times New Roman"">May 19: The Revenue Advisory Committee has recommended the government to monitor ecommerce businesses and digital payment to facilitate revenue collection in the country. In a report submitted to the Ministry of Finance (MoF), the committee has suggested the government to formulate tax policies to sustain the growing online business that has boomed with the COVID-19 pandemic and bring it under the network of tax. </span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:Cambria"><span style="font-family:"Times New Roman"">The report submitted to the Finance Minister Bishnu Poudel suggests programmes that the government should include in the budget of the upcoming fiscal year. It has also suggested the government to bring timely reforms in the tax system. </span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:Cambria"><span style="font-family:"Times New Roman"">The report states that a detailed study is required to change the revenue structure. It has suggested to look into the demands raised by the private sector regarding VAT issue and form an appropriate policy. </span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:Cambria"><span style="font-family:"Times New Roman"">Other subject matters of the report include providing compensation packages to the tourism and service sectors, review customs revenue, changing excise duty structure and studying the rate of excise duty being levied on special items. It has recommended the government to adopt a policy that avoids duplication of tax in the three levels of the government.</span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:Cambria"><span style="font-family:"Times New Roman"">Mahesh Dahal, chairman of the committee, said that suggestions have been provided to the government to adopt investment-friendly tax policies to increase production, employment opportunities and attract private sector investment. </span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:Cambria"><span style="font-family:"Times New Roman"">"The report has recommended the government to be mindful of new areas of tax as well as tax policies that the government should introduce in the upcoming fiscal year," said Dahal.</span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:Cambria"><span style="font-family:"Times New Roman"">The Revenue Advisory Committee is an independent body that has been providing recommendations to the Ministry of Finance to carry out tax reforms since 2019. It is authorized to act as a think tank on revenue issues. It carries out interactive programmes in all seven provinces with the participation of the private sector to gather revenue-related recommendations. </span></span></span></p> <p><br /> </p> ', 'published' => true, 'created' => '2021-05-19', 'modified' => '2021-05-19', 'keywords' => '', 'description' => '', 'sortorder' => '13162', 'image' => '20210519021352_20210314014808_20190408115552_20160717125003_finance-ministy.jpg', 'article_date' => '2021-05-19 14:12:50', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 10 => array( 'Article' => array( 'id' => '13416', 'article_category_id' => '1', 'title' => 'Nepal Rastra Bank rules out possibility of achieving 4% growth as projected by CBS ', 'sub_title' => '', 'summary' => 'Nepal Rastra Bank (NRB) has said that 4.01 percent of economic growth in the curent fiscal year 20120/21 as projected by the Central Bureau of Statistics is now difficult to achieve. ', 'content' => '<p>May 19: Nepal Rastra Bank (NRB) has said that 4.01 percent of economic growth in the curent fiscal year (FY20120/21) as projected by the Central Bureau of Statistics (CBS) is now difficult to achieve. </p> <p>Releasing its third quarterly report of the monetary policy for the current fiscal year on Wednesday, the central bank ruled out the possibility of achieving the growth of 4.01 percent as estimated by the CBS in April. </p> <p>Stating that the economy was heading toward recovery until nine months of the current fiscal year, the central bank said that the second wave of Covid-19 and subsequent prohbitory measures introduced in many parts of the country pose a challenge even to achieve the economic growth rate of 4 percent. </p> <p>“Economic activities were gaining momentum after the lockdown was lifted following the decline in first wave of Covid-19 infection. Against this backdrop, the CBS projects the economy to grow by 4 percent,” read the third quarterly report of the monetary policy. “However, it is difficult to achieve the estimated growth as the second wave is hitting the economy before the revival,” it added. </p> <p>Earlier on April 30, the CBS had made a preliminary estimate of 4.01 percent of economic growth in the current fiscal year from a contraction of 2.1 percent in the previous fiscal year. The estimate, based on available information and figures of seven to nine months of the current fiscal year, did not take into consideration the impacts of prohibitory measures introduced by local administrations in many parts of the country to control the spread of the second wave of coronavirus. </p> <p>Though the CBS officials had said that their projection was based on an assumption that all economic activities will operate in normal condition after two weeks, the ongoing lockdown, imposed through prohibitory orders from April 29, is already extended till May 27 in the Kathmandu Valley. </p> <p><br /> </p> ', 'published' => true, 'created' => '2021-05-19', 'modified' => '2021-05-19', 'keywords' => '', 'description' => '', 'sortorder' => '13161', 'image' => '20210519124440_20210430085017_CBS Growth.jpg', 'article_date' => '2021-05-19 12:34:40', 'homepage' => true, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => false, 'user_id' => '35' ) ), (int) 11 => array( 'Article' => array( 'id' => '13415', 'article_category_id' => '1', 'title' => 'Central Bank Tells BFIs to Save Lives under CSR', 'sub_title' => '', 'summary' => 'May 19: Nepal Rastra Bank (NRB) has directed banks and financial institutions to support people suffering from Covid-19 with oxygen supply and medical aid under their Corporate Social Responsibility (CSR).', 'content' => '<p><span style="font-size:11pt"><span style="font-family:Cambria"><span style="font-size:14.0pt"><span style="font-family:"Arial Unicode MS"">May 19</span></span><strong><span style="font-size:14.0pt"><span style="font-family:"Arial Unicode MS"">: </span></span></strong><span style="font-size:14.0pt"><span style="font-family:"Arial Unicode MS"">Nepal Rastra Bank (NRB) has directed banks and financial institutions to support people suffering from Covid-19 with oxygen supply and medical aid under their Corporate Social Responsibility (CSR).</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Cambria"><span style="font-size:14.0pt"><span style="font-family:"Arial Unicode MS"">The central bank issued such directive on May 18 in the third quarterly review of the monetary policy of the current fiscal year. </span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Cambria"><span style="font-size:14.0pt"><span style="font-family:"Arial Unicode MS"">This is expected to help the treatment of COVID-19 infected patients, the central bank said. </span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Cambria"><span style="font-size:14.0pt"><span style="font-family:"Arial Unicode MS"">"Under the CSR, arrangement shall be made to contribute funds to save people's lives in public interest and philanthropic works across the country," the state-owned national news agency RSS quoted the central bank as saying.</span></span></span></span></p> <p> </p> <p> </p> ', 'published' => true, 'created' => '2021-05-19', 'modified' => '2021-05-19', 'keywords' => '', 'description' => '', 'sortorder' => '13160', 'image' => '20210519123138_20200419015315_bank-malware.jpg', 'article_date' => '2021-05-19 12:30:29', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => false, 'user_id' => '34' ) ), (int) 12 => array( 'Article' => array( 'id' => '13411', 'article_category_id' => '1', 'title' => 'Banks will not be Allowed to Auction Collateral Until One Month after Prohibitory Period: NRB', 'sub_title' => 'NRB also to ban BFIs from imposing penalty, additional charges on borrowers during prohibitory period ', 'summary' => '', 'content' => '<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt">May 18: Nepal Rastra Bank (NRB) has announced to forbid banks and financial institutions (BFIs) from publishing notices for auctioning collateral or recovering loans during the prohibitory period. This new provision will remain in force until one month after the prohibitory orders are lifted by the government authorities.</span></span></span></p> <p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt">Releasing the third quarterly review report of the monetary policy of the current fiscal year (FY 2020/21), the central bank said that it will make necessary arrangements to bar BFIs from publishing public notices to auction collaterals to recover their loans from borrowers during and after one month of the prohibitory period.<br /> The restriction to recover loans through auction will come into force after the central bank issues a circular to the BFIs to implement the provision, according to NRB officials who say that the circular will be issued 'soon'. </span></span></span></p> <p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt">The provision aims at providing protection to borrowers from BFIs auctioning their collateral to recover loans until one month after the prohibitory period ends.</span></span></span></p> <p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt">“The provision is intended to stop banks and financial institutions from moving ahead with the process of auction to recover loans from defaulters during this crisis. There won’t be much participation in the bank auction during the prohibitory period, either. Halting the recovery of loans through auction will also provide a relief to the borrowers who are hit hard by the Covid-19 pandemic,” Dev Kumar Dhakal, spokesperson of NRB, told New Business Age. </span></span></span></p> <p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt">Similarly, the NRB, in its third quarterly monetary policy review report, said that it will also introduce a provision to prohibit BFIs from imposing any penalty or other additional charges in loan repayment from borrowers during the prohibition period. <br /> </span></span></span></p> <p> </p> ', 'published' => true, 'created' => '2021-05-18', 'modified' => '2021-05-18', 'keywords' => '', 'description' => '', 'sortorder' => '13159', 'image' => '20210518043705_Nepal Rastra Bank.jpg', 'article_date' => '2021-05-18 16:30:01', 'homepage' => true, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => false, 'user_id' => '35' ) ), (int) 13 => array( 'Article' => array( 'id' => '13414', 'article_category_id' => '1', 'title' => '2,500 Oxygen Cylinders Imported from China via Tatopani Customs Point', 'sub_title' => '', 'summary' => 'May 18: With the increase in number of Covid-19 cases, the government has stepped up efforts to facilitate the import oxygen cylinders from China via Tatopani customs. ', 'content' => '<p><em>This file photo shows Tatopani Customs Point. Photo: NBA</em></p> <p><span style="font-size:12pt"><span style="font-family:Cambria"><span style="font-family:"Times New Roman"">May 18</span><span style="font-size:10.0pt"><span style="font-family:Times">: </span></span><span style="font-family:"Times New Roman"">With the increase in number of Covid-19 cases, the government has stepped up efforts to facilitate the import oxygen cylinders from China via Tatopani customs. </span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:Cambria"><span style="font-family:"Times New Roman"">Nepali businessmen had placed order for 18,000 empty oxygen cylinders, among which, 2,500 cylinders have been brought to the Tatopani customs point on Monday (May 17).</span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:Cambria"><span style="font-family:"Times New Roman"">The cylinders would be sent to the Kathmandu after physical inspection, said Tatopani Customs Chief Naradmani Gautam.</span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:Cambria"><span style="font-family:"Times New Roman"">“The government has directed us not to queue health-related items. Since the items are not eligible for taxation, the customs clearance procedures are being sped up in order to deliver the goods to Kathmandu soon,” said Gautam. The cylinders have been brought to Tatopani Customs from Khasa by following the proper health and safety measures, he added.</span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:Cambria"><span style="font-family:"Times New Roman"">The cylinders of 10 litre capacity were imported by Hima Trade Link. Ramesh Sherpa, chairman of the transport company, Silk Transport, mentioned that 15,000 additional oxygen cylinders, other health items and equipment have also arrived at Lhasa, Membu, Shigatse, Nyalam regions of China. He also notified that it would take approximately two weeks for those items to arrive at Tatopani Customs Point.</span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:Cambria"><span style="font-family:"Times New Roman"">Chairman Sherpa informed that the health items imported by Nepali businessmen include PPE sets, surgical masks, sanitizers and gloves. The Chinese administration has notified that the oxygen cylinders and health items that have arrived at Khasa region would be sent to Nepal only after the completion of medical protocol, he added.</span></span></span></p> <p> </p> <p> </p> ', 'published' => true, 'created' => '2021-05-18', 'modified' => '2021-05-18', 'keywords' => '', 'description' => '', 'sortorder' => '13158', 'image' => '20210518054607_20190510014655_Clipboard04-2.jpg', 'article_date' => '2021-05-18 17:45:07', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 14 => array( 'Article' => array( 'id' => '13413', 'article_category_id' => '1', 'title' => 'Finance Minister Instructs Officials to Ease Customs Clearance of Oxygen Cylinders', 'sub_title' => '', 'summary' => 'May 18: Finance Minister Bishnu Prasad Paudel has instructed concerned officials to ease the customs clearance process for importing oxygen cylinders and other medical equipment taking into consideration the current health crisis. ', 'content' => '<p><span style="font-size:16px"><span style="font-family:Cambria"><span style="font-family:"Times New Roman"">May 18: Finance Minister Bishnu Prasad Paudel has instructed concerned officials to ease the customs clearance process for importing oxygen cylinders and other medical equipment taking into consideration the current health crisis. </span></span></span></p> <p><span style="font-size:16px"><span style="font-family:Cambria"><span style="font-family:"Times New Roman"">He has directed the government bodies to ease and speed up the customs clearance of health supplies, equipment and medicines related to the prevention, treatment and control of Covid-19.</span></span></span></p> <p><span style="font-size:16px"><span style="font-family:Cambria"><span style="font-family:"Times New Roman"">In a virtual discussion held between the concerned bodies, Finance Minister Paudel directed the director general and deputy director general of the Department of Customs and heads of various customs offices to ease the supply by facilitating customs clearance and inspection without any hassles.</span></span></span></p> <p><span style="font-size:16px"><span style="font-family:Cambria"><span style="font-family:"Times New Roman"">Finance Minister Bishnu Paudel also instructed the officials to submit daily report containing information about the quantity and price of imported goods for the treatment of Covid-19.</span></span></span></p> <p><span style="font-size:16px"><span style="font-family:Cambria"><span style="font-family:"Times New Roman"">Finance Secretary Shishir Kumar Dhungana issued a directive to implement a brief procedure on customs clearance of goods related to prevention, control and treatment of Covid-19.</span></span></span></p> <p><span style="font-size:16px"><span style="font-family:Cambria"><span style="font-family:"Times New Roman"">Revenue Secretary Ram Saran Pudasaini instructed the officials to work effectively round the clock in coordination with the customs offices of the neighboring countries for speedy inspection.</span></span></span></p> <p><span style="font-size:16px"><span style="font-family:Cambria"><span style="font-family:"Times New Roman"">Yamlal Bhusal, director general of the Department of Customs, said that the department has formed a quick response team to facilitate the supply of essential items.</span></span></span></p> ', 'published' => true, 'created' => '2021-05-18', 'modified' => '2021-05-18', 'keywords' => '', 'description' => '', 'sortorder' => '13157', 'image' => '20210518053658_20201015115013_1602717511.Clipboard02.jpg', 'article_date' => '2021-05-18 17:35:53', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ) ) $current_user = null $logged_in = falsesimplexml_load_file - [internal], line ?? include - APP/View/Elements/side_bar.ctp, line 60 View::_evaluate() - CORE/Cake/View/View.php, line 971 View::_render() - CORE/Cake/View/View.php, line 933 View::_renderElement() - CORE/Cake/View/View.php, line 1224 View::element() - CORE/Cake/View/View.php, line 418 include - APP/View/Articles/index.ctp, line 157 View::_evaluate() - CORE/Cake/View/View.php, line 971 View::_render() - CORE/Cake/View/View.php, line 933 View::render() - CORE/Cake/View/View.php, line 473 Controller::render() - CORE/Cake/Controller/Controller.php, line 968 Dispatcher::_invoke() - CORE/Cake/Routing/Dispatcher.php, line 200 Dispatcher::dispatch() - CORE/Cake/Routing/Dispatcher.php, line 167 [main] - APP/webroot/index.php, line 117
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', 'content' => '<p><span style="font-size:11pt"><span style="font-family:Cambria"><span style="font-size:15.0pt"><span style="font-family:Times">May 21: Australia will provide an additional AUD $7 million (NPR 635 million) in funding to Nepal to support the response to COVID-19. </span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Cambria"><span style="font-size:15.0pt"><span style="font-family:Times">The Australian Embassy said in a statement that this funding is part of a AUD $17.5 million package to support Bangladesh, Nepal and Sri Lanka, to strengthen the resilience of the South Asian region.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Cambria"><span style="font-size:15.0pt"><span style="font-family:Times">Australia’s contribution will boost Nepal’s ability to address COVID-19, including through the procurement of essential equipment and health supplies, such as oxygen for provincial hospitals and personal protective equipment for health workers, the statement added.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Cambria"><span style="font-size:15.0pt"><span style="font-family:Times">“This funding will be delivered to our trusted and established partners working on-the-ground across Nepal, in coordination with the work being undertaken by other donors including the US, UK, Japan and UN agencies,” read the statement issued on May 21.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Cambria"><span style="font-size:15.0pt"><span style="font-family:Times">The statement further said that the Australian Government continues to support the provision of safe and effective COVID-19 vaccines to Nepal, including through their support to COVAX.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Cambria"><span style="font-size:15.0pt"><span style="font-family:Times">Australia’s Ambassador to Nepal Felicity Volk said Australia is working to support the most heavily impacted communities in Nepal.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Cambria"><span style="font-size:15.0pt"><span style="font-family:Times">“Australia and Nepal have a long-standing friendship and a history of supporting each other during times of crisis. Australia is deeply concerned about the devastating impact that COVID-19 is having across Nepal and the region. With this assistance, we will partner with the Government of Nepal to respond to urgent health needs, including providing support to regional hospitals and vulnerable communities,” the statement quoted the Australian ambassador as saying.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Cambria"> </span></span></p> ', 'published' => true, 'created' => '2021-05-21', 'modified' => '2021-05-21', 'keywords' => '', 'description' => '', 'sortorder' => '13171', 'image' => '20210521023834_Flag-Pins-Ne.jpg', 'article_date' => '2021-05-21 14:37:49', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 1 => array( 'Article' => array( 'id' => '13425', 'article_category_id' => '1', 'title' => 'Seven Chartered Flights Operated in Last 10 Days', 'sub_title' => '', 'summary' => 'May 21: A total of seven chartered flights have been operated from Nepal in the last ten days, mainly to carry Indian nationals to various Middle-East countries from Kathmandu. ', 'content' => '<p><span style="font-size:12pt"><span style="font-family:Cambria"><span style="font-family:"Times New Roman"">May 21: A total of seven chartered flights have been operated from Nepal in the last ten days, mainly to carry Indian nationals to various Middle-East countries from Kathmandu. </span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:Cambria"><span style="font-family:"Times New Roman"">According to the Civil Aviation Authority of Nepal, seven chartered flights for passengers have been operated between May 10 and 19. </span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:Cambria"><span style="font-family:"Times New Roman"">According to CAAN, Himalaya Airlines operated four flights, followed by Nepal Airlines (3), and Qatar Airways (1) during this period. </span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:Cambria"><span style="font-family:"Times New Roman"">Himalaya Airlines operated a charter flight to Hazrat Shahjalal International Airport, Dhaka, on May 10 and three chartered flights to King Fahd International Airport, Dammam, on May 18. </span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:Cambria"><span style="font-family:"Times New Roman"">Likewise, Nepal Airlines operated a chartered flight to King Fahd International Airport, Dammam, and King Khalid International Airport, Riyad each on May 18 and 19. </span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:Cambria"><span style="font-family:"Times New Roman"">Similarly, Qatar Airways took off from Kathmandu for Vnukovo International Airport, Moscow, on May 11. </span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:Cambria"><span style="font-family:"Times New Roman"">Meanwhile, three evacuation flights were operated by three different foreign national flag carriers during this period. </span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:Cambria"><span style="font-family:"Times New Roman"">Qatar Airway, Turkish Airlines, and PJSC Aeroflot operated an evacuation flight each on 16th, 17th, and 18th May to Doha, Istanbul, and Khimki respectively for evacuating foreigners from Nepal. </span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:Cambria"><span style="font-family:"Times New Roman"">Likewise, CAAN has approved three additional evacuation flights scheduled for May 22, 23, and 24. </span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:Cambria"><span style="font-family:"Times New Roman"">Qatar Airways and Turkish Airlines will be operating the evacuation flights from Kathmandu to Doha and Istanbul respectively. </span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:Cambria"><span style="font-family:"Times New Roman"">Meanwhile, the Indian Embassy in Kathmandu and various media outlets have criticized airlines for charging exorbitant airfare for chartered flights. </span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:Cambria"><span style="font-family:"Times New Roman"">Meanwhile, Himalaya Airlines has expressed its concern over the allegation. </span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:Cambria"><span style="font-family:"Times New Roman"">The airlines wrote to New Business Age that it sold the air tickets as per the Global Distribution System to make it convenient for the passengers. </span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:Cambria"><span style="font-family:"Times New Roman"">"To compete in agency services as well, any local travel agency registered with the International Aviation Industry Association (IATA) will be able to sell tickets and passengers will be able to buy tickets with a travel agency that suits them," a press statement of the airlines reads.</span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:Cambria"><span style="font-family:"Times New Roman"">"All the tickets have been sold through the global ticket distribution system which is accessible to all the agencies and all the fares are also accessible to all the agencies through this system. The system is completely transparent and competitive between agencies, from which passengers can benefit from the quality of service and service charges. Since these flights have to carry one-way passengers, that is, the aircraft has to be brought back empty, it is natural that the fares will be proportionally higher than the regular flights," the statement further added.</span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:Cambria"><span style="font-family:"Times New Roman"">Himalaya Airlines said it believes that agencies do not charge exorbitant fees. However, if an agency submits evidence of unduly excessive charges to a passenger, the airline company will recommend to the relevant regulatory body for necessary action.</span></span></span></p> <p> </p> ', 'published' => true, 'created' => '2021-05-21', 'modified' => '2021-05-21', 'keywords' => '', 'description' => '', 'sortorder' => '13170', 'image' => '20210521022538_20191020090205_aaaa.jpg', 'article_date' => '2021-05-21 14:24:57', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 2 => array( 'Article' => array( 'id' => '13424', 'article_category_id' => '1', 'title' => 'MPs Given Deadline Until 5PM Today to Choose New Prime Minister', 'sub_title' => '', 'summary' => 'May 21: President Bidya Devi Bhandari has initiated the process of formation of a new government in accordance with Article 76 (5) of the Constitution of Nepal.', 'content' => '<p><em>President Bidya Devi Bhandari. Photo Courtesy: Government of Nepal</em></p> <p><span style="font-size:11pt"><span style="font-family:Cambria"><span style="font-family:"Arial Unicode MS"">May 21: President Bidya Devi Bhandari has initiated the process of formation of a new government in accordance with Article 76 (5) of the Constitution of Nepal.</span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Cambria"><span style="font-family:"Arial Unicode MS"">The president has called upon the Members of Parliament (MPs) to submit their claim for the premiership till 5:00 pm on May 21. </span><br /> <span style="font-family:"Arial Unicode MS"">Deputy Spokesperson at the Office of the President, Keshav Prasad Ghimire, informed that the president made such call to initiate the process for the appointment of a new prime minister upon the request of Prime Minister KP Sharma Oli. </span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Cambria"><span style="font-family:"Arial Unicode MS""> The Council of Ministers had decided on May 20 to initiate a new process to appoint the prime minister in accordance with Article 76 (5). </span></span></span></p> ', 'published' => true, 'created' => '2021-05-21', 'modified' => '2021-05-21', 'keywords' => '', 'description' => '', 'sortorder' => '13169', 'image' => '20210521110826_Rt._Hon._President-819x1024.jpg', 'article_date' => '2021-05-21 11:07:24', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 3 => array( 'Article' => array( 'id' => '13423', 'article_category_id' => '1', 'title' => 'CAN Federation Urges Government to Maximize use of ICT to Contain Coronavirus', 'sub_title' => '', 'summary' => 'May 21: The Federation of Computer Association Nepal (CAN) has urged all the stakeholders to make the optimal use of Information and Communication Technologies (ICT) to contain the second wave of coronavirus.', 'content' => '<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:12.0pt"><span style="font-family:"Times New Roman"">May 21: The Federation of Computer Association Nepal (CAN) has urged all the stakeholders to make the optimal use of Information and Communication Technologies (ICT) to contain the second wave of coronavirus.</span></span></span></span></p> <p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:12.0pt"><span style="font-family:"Times New Roman"">In light of the increasing new COVID-19 infections and patients not getting ICU beds, CAN Federation has requested the government to provide real time information with use of ICT. It has sought attention of the government and concerned stakeholders for updating the information uploaded on Health Management Information System (HMIS) on an hourly basis instead of a daily basis. </span></span></span></span></p> <p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:12.0pt"><span style="font-family:"Times New Roman"">Issuing a press statement, the federation said it is always ready to provide the required ICT materials and other support in this regard.</span></span></span></span></p> <p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:12.0pt"><span style="font-family:"Times New Roman"">The federation has also sought attention of the government to consider the ICT services as essential one. It further states that telecommunication service is classified as essential service but purchase and repair of computer related devices are not allowed. Likewise, online classes are running but operation of business related to maintenance of computers and mobile phones are prohibited which might risk the effectiveness of prohibitory order in the days to come. </span></span></span></span></p> <p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:12.0pt"><span style="font-family:"Times New Roman"">CAN Federation has asked the government to make necessary arrangements to facilitate home delivery service as buying items online is convenient at this time. Similarly, it has also requested the concerned authorities to promote e-banking for the purchase of daily essentials.</span></span></span></span></p> <p> </p> ', 'published' => true, 'created' => '2021-05-21', 'modified' => '2021-05-21', 'keywords' => '', 'description' => '', 'sortorder' => '13168', 'image' => '20210521104816_27524978.jpg', 'article_date' => '2021-05-21 10:47:40', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 4 => array( 'Article' => array( 'id' => '13422', 'article_category_id' => '1', 'title' => 'Five Companies Apply for License of Reinsurance Company', 'sub_title' => '', 'summary' => 'May 20: Five new companies have submitted applications to the Insurance Board for establishing a new reinsurance company.', 'content' => '<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:12.0pt"><span style="font-family:"Times New Roman"">May 20: Five new companies have submitted applications to the Insurance Board for establishing a new reinsurance company. The board had called for applications to establish a new reinsurance company with private investment. </span></span></span></span></p> <p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:12.0pt"><span style="font-family:"Times New Roman"">The Insurance Board has received five applications until the last day for submission of applications on May 19. It had published a notice on April 29 seeking applications from the private sector. Applications were sought for opening a new reinsurance company to make the insurance market more competitive, effective and productive. </span></span></span></span></p> <p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:12.0pt"><span style="font-family:"Times New Roman"">Companies namely Kathmandu Reinsurance Company, Annapurna Reinsurance Company, Prudential Reinsurance Company, Himalayan Reinsurance Company and Genuine Reinsurance Company have submitted applications to the board. </span></span></span></span></p> <p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:12.0pt"><span style="font-family:"Times New Roman"">Raju Raman Poudel, executive director of the board, confirmed that applications have been received from five companies. The board will study the applications properly before taking any further steps.</span></span></span></span></p> <p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:12.0pt"><span style="font-family:"Times New Roman"">Currently only one state-owned reinsurance company -- Nepal Reinsurance Company -- is in operation in the country.</span></span></span></span></p> <p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:12.0pt"><span style="font-family:"Times New Roman"">Poudel said that the board received more applications that they were expecting.</span></span></span></span></p> <p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:12.0pt"><span style="font-family:"Times New Roman"">"During the evaluation process, the company receiving the highest marks will get the license for operation," he added. </span></span></span></span></p> <p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:12.0pt"><span style="font-family:"Times New Roman"">Former Finance Minister Yuba Raj Khatiwada had been stressing on the need of a new reinsurance company. Since then, the board had been studying this prospect by forming a committee. The study had recommended the need of an additional reinsurance company. Then the board started preparations to set up a new reinsurance company.</span></span></span></span></p> <p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:12.0pt"><span style="font-family:"Times New Roman"">According to Poudel it is not possible to ask the companies that have submitted applications to collaborate and come together. It would have been possible if the number of applicants were few. He said that only one of the five applicants will receive a license to set up a new reinsurance company.</span></span></span></span></p> <p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:12.0pt"><span style="font-family:"Times New Roman"">The board has also set various criteria and conditions for the new reinsurance company. The companies will be evaluated on the basis of those criteria. The proposed company should have a paid-up capital of Rs 10 billion. Likewise, investors of Nepal Reinsurance Company, which is currently in operation, are not allowed to invest in the proposed company. </span></span></span></span></p> <p> </p> ', 'published' => true, 'created' => '2021-05-20', 'modified' => '2021-05-20', 'keywords' => '', 'description' => '', 'sortorder' => '13167', 'image' => '20210520071206_20210315114314_20200630093335_Reinsurance.jpg', 'article_date' => '2021-05-20 19:11:26', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 5 => array( 'Article' => array( 'id' => '13421', 'article_category_id' => '1', 'title' => 'SC Orders Government not to Fine Taxpayers during Lockdown ', 'sub_title' => '', 'summary' => 'May 20: The Supreme Court has issued an interim order asking the government not to fine taxpayers for the delay in submission of VAT and tax within the stipulated deadline', 'content' => '<p><span style="font-size:12pt"><span style="font-family:Cambria"><span style="font-family:Arial">May 20: The Supreme Court has issued an interim order asking the government not to fine taxpayers for the delay in submission of VAT and tax within the stipulated deadline taking into consideration the enforcement of prohibitory order in most parts of the country. </span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:Cambria"><span style="font-family:Arial">The interim order in the name of the government has brought relief to the private sector affected by the prohibitory order aimed at curbing the Covid-19 outbreak.</span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:Cambria"><span style="font-family:Arial">Hearing on a writ petition filed by advocate Srijana Adhikari, a single bench of Justice Meera Khadka on Wednesday, May 19, ordered the government not to fine private companies failing to fill the value-added tax details and tax on time due to the lockdown.</span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:Cambria"><span style="font-family:Arial">"Do not collect fines from the companies failing to fill the value-added tax statement and tax on time due to the lockdown," the order states. </span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:Cambria"><span style="font-family:Arial">“Necessary arrangements should be made to pay the taxes within 30 days after the lockdown is lifted," the order added. </span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:Cambria"><span style="font-family:Arial">The order has also asked the finance ministry to submit a written reply in this regard within 15 days. </span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:Cambria"><span style="font-family:Arial">Adhikari had filed a writ petition against the Inland Revenue Department alleging the office for imposing the fine without providing sufficient information regarding tax submission on the website.</span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:Cambria"><span style="font-family:Arial">Last year, the government had allocated a time limit for the private sector to submit VAT and tax during the lockdown, which is not the case during the ongoing prohibitory order. Most districts in Nepal are currently under prohibitory orders since late April.</span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:Cambria"><span style="font-family:Arial">However, the Inland Revenue Department has been urging the taxpayers to submit the details including tax payment through various means.</span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:Cambria"><span style="font-family:Arial">The private sector had demanded the government to extend the period for submitting tax details and to extend the tax payment period, citing the ongoing lockdown and the employees suffering from Covid-19. However, the government has intensified tax collection, saying that it is in no hurry to make a decision. </span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:Cambria"><span style="font-family:Arial">Entrepreneurs say that the private sector is relieved from the court order. Chairman of Nepal Chamber of Commerce Rajendra Malla said that the recent monetary policy and Supreme Court order have given some respite to the private sector.</span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:Cambria"><span style="font-family:Arial">"We, the industrialists and businessmen, are the citizens of this country and we know that we have to abide by the law. But given the difficult situation, we asked the government to give us time to pay taxes and submit details. However, the governmrnt did not show any concern," said Malla.</span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:Cambria"><span style="font-family:Arial">The order of the Supreme Court and the provision of the monetary policy should be implemented in a way to benefit the private sector, added Malla.</span></span></span></p> <p> </p> <p><span style="font-size:12pt"><span style="font-family:Cambria"> </span></span></p> <p><br /> <br /> <br /> <br /> </p> <p> </p> ', 'published' => true, 'created' => '2021-05-20', 'modified' => '2021-05-20', 'keywords' => '', 'description' => '', 'sortorder' => '13166', 'image' => '20210520014546_20201127115547_20200417094838_CKC_ktm.jpg', 'article_date' => '2021-05-20 13:45:06', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 6 => array( 'Article' => array( 'id' => '13420', 'article_category_id' => '1', 'title' => 'NATTA urges Government to Facilitate Safe Return of Tourists', 'sub_title' => '', 'summary' => 'May 20: Nepal Association of Tour and Travel Agents (NATTA) has urged the government to create a favourable environment for foreign visitors to return home from Nepal. ', 'content' => '<p><span style="font-family:Arial,Helvetica,sans-serif"><span style="font-size:18px">May 20: Nepal Association of Tour and Travel Agents (NATTA) has urged the government to create a favourable environment for foreign visitors to return home from Nepal. <br /> Issuing a recent press statement, Acting President of NATTA, Binay Basnet, urged the government to facilitate in the return of foreign tourists who are stranded in Nepal. <br /> According to NATTA, the foreign tourists are stranded due to suspension of domestic and international flights amid second wave of Covid-19. <br /> NATTA has also urged the government to collect data of foreign tourists in Nepal and to operate two to three international flights per week to airlift the visitors.</span></span></p> <p><span style="font-family:Arial,Helvetica,sans-serif"><span style="font-size:18px">The umbrella body of travel agents also urged the government to give permission for regular flights from May 25 onwards. It also drew the attention of the government to grant permission for chartered flights for international destinations. <br /> </span></span></p> ', 'published' => true, 'created' => '2021-05-20', 'modified' => '2021-05-20', 'keywords' => '', 'description' => '', 'sortorder' => '13165', 'image' => '20210520114517_20200930115831_1601420205.89.jpg', 'article_date' => '2021-05-20 11:44:13', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 7 => array( 'Article' => array( 'id' => '13419', 'article_category_id' => '1', 'title' => 'Himalayan Airlines Airlifts Stranded Indian Nationals from Kathmandu to Saudi Arabia', 'sub_title' => '', 'summary' => 'May 19: Himalaya Airlines operated three chartered flights to airlift stranded Indian nationals from Kathmandu to Dammam, Saudi Arabia, on Tuesday (May 18).', 'content' => '<p><span style="font-size:12pt"><span style="font-family:Cambria">May 19: Himalaya Airlines operated three chartered flights to airlift stranded Indian nationals from Kathmandu to Dammam, Saudi Arabia, on Tuesday (May 18).<br /> Himalaya Airlines scheduled the chartered flights in line with the Government of Nepal’s decision to transport stranded Indian nationals from Kathmandu to Saudi Arabia.<br /> The airline company confirmed to New Business Age that the three flights took off from Kathamndu for Dammam on May 18. However, the airline company said it boarded passengers up to 85 percent of its capacity amid safety concerns regarding transmission of coronavirus.<br /> The airlines scheduled the three chartered flights- H9-5761, H9-5751, and H9-5601- to Dammam from Kathmandu on May 18 at 8:50 am, 11:40 am, and 21:50 local time.<br /> The airline company charged USD 820 for one-way fare. Passengers were allowed to load 30 kg check-in baggage, and 7 kg hand-carry.<br /> Similarly, passengers were required to present proof of PCR negative certificate, at the time of boarding the flight.<br /> It is mandatory for all passengers to stay in quarantine upon reaching Saudi Arabia.</span></span></p> <p> </p> ', 'published' => true, 'created' => '2021-05-19', 'modified' => '2021-05-19', 'keywords' => '', 'description' => '', 'sortorder' => '13164', 'image' => '20210519041501_20190402115618_A320.jpg', 'article_date' => '2021-05-19 16:14:05', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 8 => array( 'Article' => array( 'id' => '13418', 'article_category_id' => '1', 'title' => 'NAST Succeeds in Test Production of Oxygen Cylinders ', 'sub_title' => '', 'summary' => 'May 19: Nepal Academy of Science and Technology (NAST) has tested the production of oxygen gas cylinder for the first time in Nepal. ', 'content' => '<p><span style="font-size:12pt"><span style="font-family:Cambria"><span style="font-family:"Times New Roman"">May 19: Nepal Academy of Science and Technology (NAST) has tested the production of oxygen gas cylinder for the first time in Nepal. At a time when oxygen cylinders are in short supply, new cylinders are being manufactured and tested within the country. </span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:Cambria"><span style="font-family:"Times New Roman"">The test started after Minister for Education Krishna Gopal Shrestha inspected the production facility on Tuesday, May 18, 2021. </span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:Cambria"><span style="font-family:"Times New Roman"">Shrestha expressed commitment to take initiative to fulfill the shortage of zeolite used for making oxygen. Furthermore, he said that the government would extend full support to this initiative of NAST. </span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:Cambria"><span style="font-family:"Times New Roman"">Stating that there is no oxygen production plant in big hospitals, he said, “If the provision of an oxygen plant was made mandatory in the hospital when giving permission to operate hospitals in the past, there would have been no shortage at present.” </span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:Cambria"><span style="font-family:"Times New Roman"">With the success of the test, the government will now give permission to various companies to produce cylinders to meet the demand. Chief of the Faculty of Technology at NAST, Dr Rabindra Dhakal, said commercial production will be allowed after discussing with the manufacturing companies. </span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:Cambria"><span style="font-family:"Times New Roman"">According to him, the minimum price of a cylinder available in the country costs around Rs 15,000, while the cylinders produced with the technology of NAST will cost less than Rs 10,000. </span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:Cambria"><span style="font-family:"Times New Roman"">Minister Shrestha, who arrived at NAST’s headquarters in Lalitpur to observe the test, appreciated the team including vice chancellor Dr Sunil Babu Shrestha and scientist Shankar Dhakal. </span></span></span></p> <p> </p> <p> </p> ', 'published' => true, 'created' => '2021-05-19', 'modified' => '2021-05-19', 'keywords' => '', 'description' => '', 'sortorder' => '13163', 'image' => '20210519040512_20210503015716_20210429095930_Medical-Oxygen-Gas-Cylinders-Market.jpg', 'article_date' => '2021-05-19 16:04:00', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 9 => array( 'Article' => array( 'id' => '13417', 'article_category_id' => '1', 'title' => 'Revenue Advisory Committee Recommends the Government to Monitor Ecommerce Sector', 'sub_title' => '', 'summary' => 'May 19: The Revenue Advisory Committee has recommended the government to monitor ecommerce businesses and digital payment to facilitate revenue collection in the country. ', 'content' => '<p><span style="font-size:12pt"><span style="font-family:Cambria"><span style="font-family:"Times New Roman"">May 19: The Revenue Advisory Committee has recommended the government to monitor ecommerce businesses and digital payment to facilitate revenue collection in the country. In a report submitted to the Ministry of Finance (MoF), the committee has suggested the government to formulate tax policies to sustain the growing online business that has boomed with the COVID-19 pandemic and bring it under the network of tax. </span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:Cambria"><span style="font-family:"Times New Roman"">The report submitted to the Finance Minister Bishnu Poudel suggests programmes that the government should include in the budget of the upcoming fiscal year. It has also suggested the government to bring timely reforms in the tax system. </span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:Cambria"><span style="font-family:"Times New Roman"">The report states that a detailed study is required to change the revenue structure. It has suggested to look into the demands raised by the private sector regarding VAT issue and form an appropriate policy. </span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:Cambria"><span style="font-family:"Times New Roman"">Other subject matters of the report include providing compensation packages to the tourism and service sectors, review customs revenue, changing excise duty structure and studying the rate of excise duty being levied on special items. It has recommended the government to adopt a policy that avoids duplication of tax in the three levels of the government.</span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:Cambria"><span style="font-family:"Times New Roman"">Mahesh Dahal, chairman of the committee, said that suggestions have been provided to the government to adopt investment-friendly tax policies to increase production, employment opportunities and attract private sector investment. </span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:Cambria"><span style="font-family:"Times New Roman"">"The report has recommended the government to be mindful of new areas of tax as well as tax policies that the government should introduce in the upcoming fiscal year," said Dahal.</span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:Cambria"><span style="font-family:"Times New Roman"">The Revenue Advisory Committee is an independent body that has been providing recommendations to the Ministry of Finance to carry out tax reforms since 2019. It is authorized to act as a think tank on revenue issues. It carries out interactive programmes in all seven provinces with the participation of the private sector to gather revenue-related recommendations. </span></span></span></p> <p><br /> </p> ', 'published' => true, 'created' => '2021-05-19', 'modified' => '2021-05-19', 'keywords' => '', 'description' => '', 'sortorder' => '13162', 'image' => '20210519021352_20210314014808_20190408115552_20160717125003_finance-ministy.jpg', 'article_date' => '2021-05-19 14:12:50', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 10 => array( 'Article' => array( 'id' => '13416', 'article_category_id' => '1', 'title' => 'Nepal Rastra Bank rules out possibility of achieving 4% growth as projected by CBS ', 'sub_title' => '', 'summary' => 'Nepal Rastra Bank (NRB) has said that 4.01 percent of economic growth in the curent fiscal year 20120/21 as projected by the Central Bureau of Statistics is now difficult to achieve. ', 'content' => '<p>May 19: Nepal Rastra Bank (NRB) has said that 4.01 percent of economic growth in the curent fiscal year (FY20120/21) as projected by the Central Bureau of Statistics (CBS) is now difficult to achieve. </p> <p>Releasing its third quarterly report of the monetary policy for the current fiscal year on Wednesday, the central bank ruled out the possibility of achieving the growth of 4.01 percent as estimated by the CBS in April. </p> <p>Stating that the economy was heading toward recovery until nine months of the current fiscal year, the central bank said that the second wave of Covid-19 and subsequent prohbitory measures introduced in many parts of the country pose a challenge even to achieve the economic growth rate of 4 percent. </p> <p>“Economic activities were gaining momentum after the lockdown was lifted following the decline in first wave of Covid-19 infection. Against this backdrop, the CBS projects the economy to grow by 4 percent,” read the third quarterly report of the monetary policy. “However, it is difficult to achieve the estimated growth as the second wave is hitting the economy before the revival,” it added. </p> <p>Earlier on April 30, the CBS had made a preliminary estimate of 4.01 percent of economic growth in the current fiscal year from a contraction of 2.1 percent in the previous fiscal year. The estimate, based on available information and figures of seven to nine months of the current fiscal year, did not take into consideration the impacts of prohibitory measures introduced by local administrations in many parts of the country to control the spread of the second wave of coronavirus. </p> <p>Though the CBS officials had said that their projection was based on an assumption that all economic activities will operate in normal condition after two weeks, the ongoing lockdown, imposed through prohibitory orders from April 29, is already extended till May 27 in the Kathmandu Valley. </p> <p><br /> </p> ', 'published' => true, 'created' => '2021-05-19', 'modified' => '2021-05-19', 'keywords' => '', 'description' => '', 'sortorder' => '13161', 'image' => '20210519124440_20210430085017_CBS Growth.jpg', 'article_date' => '2021-05-19 12:34:40', 'homepage' => true, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => false, 'user_id' => '35' ) ), (int) 11 => array( 'Article' => array( 'id' => '13415', 'article_category_id' => '1', 'title' => 'Central Bank Tells BFIs to Save Lives under CSR', 'sub_title' => '', 'summary' => 'May 19: Nepal Rastra Bank (NRB) has directed banks and financial institutions to support people suffering from Covid-19 with oxygen supply and medical aid under their Corporate Social Responsibility (CSR).', 'content' => '<p><span style="font-size:11pt"><span style="font-family:Cambria"><span style="font-size:14.0pt"><span style="font-family:"Arial Unicode MS"">May 19</span></span><strong><span style="font-size:14.0pt"><span style="font-family:"Arial Unicode MS"">: </span></span></strong><span style="font-size:14.0pt"><span style="font-family:"Arial Unicode MS"">Nepal Rastra Bank (NRB) has directed banks and financial institutions to support people suffering from Covid-19 with oxygen supply and medical aid under their Corporate Social Responsibility (CSR).</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Cambria"><span style="font-size:14.0pt"><span style="font-family:"Arial Unicode MS"">The central bank issued such directive on May 18 in the third quarterly review of the monetary policy of the current fiscal year. </span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Cambria"><span style="font-size:14.0pt"><span style="font-family:"Arial Unicode MS"">This is expected to help the treatment of COVID-19 infected patients, the central bank said. </span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Cambria"><span style="font-size:14.0pt"><span style="font-family:"Arial Unicode MS"">"Under the CSR, arrangement shall be made to contribute funds to save people's lives in public interest and philanthropic works across the country," the state-owned national news agency RSS quoted the central bank as saying.</span></span></span></span></p> <p> </p> <p> </p> ', 'published' => true, 'created' => '2021-05-19', 'modified' => '2021-05-19', 'keywords' => '', 'description' => '', 'sortorder' => '13160', 'image' => '20210519123138_20200419015315_bank-malware.jpg', 'article_date' => '2021-05-19 12:30:29', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => false, 'user_id' => '34' ) ), (int) 12 => array( 'Article' => array( 'id' => '13411', 'article_category_id' => '1', 'title' => 'Banks will not be Allowed to Auction Collateral Until One Month after Prohibitory Period: NRB', 'sub_title' => 'NRB also to ban BFIs from imposing penalty, additional charges on borrowers during prohibitory period ', 'summary' => '', 'content' => '<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt">May 18: Nepal Rastra Bank (NRB) has announced to forbid banks and financial institutions (BFIs) from publishing notices for auctioning collateral or recovering loans during the prohibitory period. This new provision will remain in force until one month after the prohibitory orders are lifted by the government authorities.</span></span></span></p> <p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt">Releasing the third quarterly review report of the monetary policy of the current fiscal year (FY 2020/21), the central bank said that it will make necessary arrangements to bar BFIs from publishing public notices to auction collaterals to recover their loans from borrowers during and after one month of the prohibitory period.<br /> The restriction to recover loans through auction will come into force after the central bank issues a circular to the BFIs to implement the provision, according to NRB officials who say that the circular will be issued 'soon'. </span></span></span></p> <p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt">The provision aims at providing protection to borrowers from BFIs auctioning their collateral to recover loans until one month after the prohibitory period ends.</span></span></span></p> <p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt">“The provision is intended to stop banks and financial institutions from moving ahead with the process of auction to recover loans from defaulters during this crisis. There won’t be much participation in the bank auction during the prohibitory period, either. Halting the recovery of loans through auction will also provide a relief to the borrowers who are hit hard by the Covid-19 pandemic,” Dev Kumar Dhakal, spokesperson of NRB, told New Business Age. </span></span></span></p> <p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt">Similarly, the NRB, in its third quarterly monetary policy review report, said that it will also introduce a provision to prohibit BFIs from imposing any penalty or other additional charges in loan repayment from borrowers during the prohibition period. <br /> </span></span></span></p> <p> </p> ', 'published' => true, 'created' => '2021-05-18', 'modified' => '2021-05-18', 'keywords' => '', 'description' => '', 'sortorder' => '13159', 'image' => '20210518043705_Nepal Rastra Bank.jpg', 'article_date' => '2021-05-18 16:30:01', 'homepage' => true, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => false, 'user_id' => '35' ) ), (int) 13 => array( 'Article' => array( 'id' => '13414', 'article_category_id' => '1', 'title' => '2,500 Oxygen Cylinders Imported from China via Tatopani Customs Point', 'sub_title' => '', 'summary' => 'May 18: With the increase in number of Covid-19 cases, the government has stepped up efforts to facilitate the import oxygen cylinders from China via Tatopani customs. ', 'content' => '<p><em>This file photo shows Tatopani Customs Point. Photo: NBA</em></p> <p><span style="font-size:12pt"><span style="font-family:Cambria"><span style="font-family:"Times New Roman"">May 18</span><span style="font-size:10.0pt"><span style="font-family:Times">: </span></span><span style="font-family:"Times New Roman"">With the increase in number of Covid-19 cases, the government has stepped up efforts to facilitate the import oxygen cylinders from China via Tatopani customs. </span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:Cambria"><span style="font-family:"Times New Roman"">Nepali businessmen had placed order for 18,000 empty oxygen cylinders, among which, 2,500 cylinders have been brought to the Tatopani customs point on Monday (May 17).</span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:Cambria"><span style="font-family:"Times New Roman"">The cylinders would be sent to the Kathmandu after physical inspection, said Tatopani Customs Chief Naradmani Gautam.</span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:Cambria"><span style="font-family:"Times New Roman"">“The government has directed us not to queue health-related items. Since the items are not eligible for taxation, the customs clearance procedures are being sped up in order to deliver the goods to Kathmandu soon,” said Gautam. The cylinders have been brought to Tatopani Customs from Khasa by following the proper health and safety measures, he added.</span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:Cambria"><span style="font-family:"Times New Roman"">The cylinders of 10 litre capacity were imported by Hima Trade Link. Ramesh Sherpa, chairman of the transport company, Silk Transport, mentioned that 15,000 additional oxygen cylinders, other health items and equipment have also arrived at Lhasa, Membu, Shigatse, Nyalam regions of China. He also notified that it would take approximately two weeks for those items to arrive at Tatopani Customs Point.</span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:Cambria"><span style="font-family:"Times New Roman"">Chairman Sherpa informed that the health items imported by Nepali businessmen include PPE sets, surgical masks, sanitizers and gloves. The Chinese administration has notified that the oxygen cylinders and health items that have arrived at Khasa region would be sent to Nepal only after the completion of medical protocol, he added.</span></span></span></p> <p> </p> <p> </p> ', 'published' => true, 'created' => '2021-05-18', 'modified' => '2021-05-18', 'keywords' => '', 'description' => '', 'sortorder' => '13158', 'image' => '20210518054607_20190510014655_Clipboard04-2.jpg', 'article_date' => '2021-05-18 17:45:07', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 14 => array( 'Article' => array( 'id' => '13413', 'article_category_id' => '1', 'title' => 'Finance Minister Instructs Officials to Ease Customs Clearance of Oxygen Cylinders', 'sub_title' => '', 'summary' => 'May 18: Finance Minister Bishnu Prasad Paudel has instructed concerned officials to ease the customs clearance process for importing oxygen cylinders and other medical equipment taking into consideration the current health crisis. ', 'content' => '<p><span style="font-size:16px"><span style="font-family:Cambria"><span style="font-family:"Times New Roman"">May 18: Finance Minister Bishnu Prasad Paudel has instructed concerned officials to ease the customs clearance process for importing oxygen cylinders and other medical equipment taking into consideration the current health crisis. </span></span></span></p> <p><span style="font-size:16px"><span style="font-family:Cambria"><span style="font-family:"Times New Roman"">He has directed the government bodies to ease and speed up the customs clearance of health supplies, equipment and medicines related to the prevention, treatment and control of Covid-19.</span></span></span></p> <p><span style="font-size:16px"><span style="font-family:Cambria"><span style="font-family:"Times New Roman"">In a virtual discussion held between the concerned bodies, Finance Minister Paudel directed the director general and deputy director general of the Department of Customs and heads of various customs offices to ease the supply by facilitating customs clearance and inspection without any hassles.</span></span></span></p> <p><span style="font-size:16px"><span style="font-family:Cambria"><span style="font-family:"Times New Roman"">Finance Minister Bishnu Paudel also instructed the officials to submit daily report containing information about the quantity and price of imported goods for the treatment of Covid-19.</span></span></span></p> <p><span style="font-size:16px"><span style="font-family:Cambria"><span style="font-family:"Times New Roman"">Finance Secretary Shishir Kumar Dhungana issued a directive to implement a brief procedure on customs clearance of goods related to prevention, control and treatment of Covid-19.</span></span></span></p> <p><span style="font-size:16px"><span style="font-family:Cambria"><span style="font-family:"Times New Roman"">Revenue Secretary Ram Saran Pudasaini instructed the officials to work effectively round the clock in coordination with the customs offices of the neighboring countries for speedy inspection.</span></span></span></p> <p><span style="font-size:16px"><span style="font-family:Cambria"><span style="font-family:"Times New Roman"">Yamlal Bhusal, director general of the Department of Customs, said that the department has formed a quick response team to facilitate the supply of essential items.</span></span></span></p> ', 'published' => true, 'created' => '2021-05-18', 'modified' => '2021-05-18', 'keywords' => '', 'description' => '', 'sortorder' => '13157', 'image' => '20210518053658_20201015115013_1602717511.Clipboard02.jpg', 'article_date' => '2021-05-18 17:35:53', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ) ) $current_user = null $logged_in = false $xml = falseinclude - APP/View/Elements/side_bar.ctp, line 133 View::_evaluate() - CORE/Cake/View/View.php, line 971 View::_render() - CORE/Cake/View/View.php, line 933 View::_renderElement() - CORE/Cake/View/View.php, line 1224 View::element() - CORE/Cake/View/View.php, line 418 include - APP/View/Articles/index.ctp, line 157 View::_evaluate() - CORE/Cake/View/View.php, line 971 View::_render() - CORE/Cake/View/View.php, line 933 View::render() - CORE/Cake/View/View.php, line 473 Controller::render() - CORE/Cake/Controller/Controller.php, line 968 Dispatcher::_invoke() - CORE/Cake/Routing/Dispatcher.php, line 200 Dispatcher::dispatch() - CORE/Cake/Routing/Dispatcher.php, line 167 [main] - APP/webroot/index.php, line 117
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', 'content' => '<p><span style="font-size:11pt"><span style="font-family:Cambria"><span style="font-size:15.0pt"><span style="font-family:Times">May 21: Australia will provide an additional AUD $7 million (NPR 635 million) in funding to Nepal to support the response to COVID-19. </span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Cambria"><span style="font-size:15.0pt"><span style="font-family:Times">The Australian Embassy said in a statement that this funding is part of a AUD $17.5 million package to support Bangladesh, Nepal and Sri Lanka, to strengthen the resilience of the South Asian region.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Cambria"><span style="font-size:15.0pt"><span style="font-family:Times">Australia’s contribution will boost Nepal’s ability to address COVID-19, including through the procurement of essential equipment and health supplies, such as oxygen for provincial hospitals and personal protective equipment for health workers, the statement added.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Cambria"><span style="font-size:15.0pt"><span style="font-family:Times">“This funding will be delivered to our trusted and established partners working on-the-ground across Nepal, in coordination with the work being undertaken by other donors including the US, UK, Japan and UN agencies,” read the statement issued on May 21.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Cambria"><span style="font-size:15.0pt"><span style="font-family:Times">The statement further said that the Australian Government continues to support the provision of safe and effective COVID-19 vaccines to Nepal, including through their support to COVAX.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Cambria"><span style="font-size:15.0pt"><span style="font-family:Times">Australia’s Ambassador to Nepal Felicity Volk said Australia is working to support the most heavily impacted communities in Nepal.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Cambria"><span style="font-size:15.0pt"><span style="font-family:Times">“Australia and Nepal have a long-standing friendship and a history of supporting each other during times of crisis. Australia is deeply concerned about the devastating impact that COVID-19 is having across Nepal and the region. With this assistance, we will partner with the Government of Nepal to respond to urgent health needs, including providing support to regional hospitals and vulnerable communities,” the statement quoted the Australian ambassador as saying.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Cambria"> </span></span></p> ', 'published' => true, 'created' => '2021-05-21', 'modified' => '2021-05-21', 'keywords' => '', 'description' => '', 'sortorder' => '13171', 'image' => '20210521023834_Flag-Pins-Ne.jpg', 'article_date' => '2021-05-21 14:37:49', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 1 => array( 'Article' => array( 'id' => '13425', 'article_category_id' => '1', 'title' => 'Seven Chartered Flights Operated in Last 10 Days', 'sub_title' => '', 'summary' => 'May 21: A total of seven chartered flights have been operated from Nepal in the last ten days, mainly to carry Indian nationals to various Middle-East countries from Kathmandu. ', 'content' => '<p><span style="font-size:12pt"><span style="font-family:Cambria"><span style="font-family:"Times New Roman"">May 21: A total of seven chartered flights have been operated from Nepal in the last ten days, mainly to carry Indian nationals to various Middle-East countries from Kathmandu. </span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:Cambria"><span style="font-family:"Times New Roman"">According to the Civil Aviation Authority of Nepal, seven chartered flights for passengers have been operated between May 10 and 19. </span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:Cambria"><span style="font-family:"Times New Roman"">According to CAAN, Himalaya Airlines operated four flights, followed by Nepal Airlines (3), and Qatar Airways (1) during this period. </span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:Cambria"><span style="font-family:"Times New Roman"">Himalaya Airlines operated a charter flight to Hazrat Shahjalal International Airport, Dhaka, on May 10 and three chartered flights to King Fahd International Airport, Dammam, on May 18. </span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:Cambria"><span style="font-family:"Times New Roman"">Likewise, Nepal Airlines operated a chartered flight to King Fahd International Airport, Dammam, and King Khalid International Airport, Riyad each on May 18 and 19. </span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:Cambria"><span style="font-family:"Times New Roman"">Similarly, Qatar Airways took off from Kathmandu for Vnukovo International Airport, Moscow, on May 11. </span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:Cambria"><span style="font-family:"Times New Roman"">Meanwhile, three evacuation flights were operated by three different foreign national flag carriers during this period. </span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:Cambria"><span style="font-family:"Times New Roman"">Qatar Airway, Turkish Airlines, and PJSC Aeroflot operated an evacuation flight each on 16th, 17th, and 18th May to Doha, Istanbul, and Khimki respectively for evacuating foreigners from Nepal. </span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:Cambria"><span style="font-family:"Times New Roman"">Likewise, CAAN has approved three additional evacuation flights scheduled for May 22, 23, and 24. </span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:Cambria"><span style="font-family:"Times New Roman"">Qatar Airways and Turkish Airlines will be operating the evacuation flights from Kathmandu to Doha and Istanbul respectively. </span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:Cambria"><span style="font-family:"Times New Roman"">Meanwhile, the Indian Embassy in Kathmandu and various media outlets have criticized airlines for charging exorbitant airfare for chartered flights. </span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:Cambria"><span style="font-family:"Times New Roman"">Meanwhile, Himalaya Airlines has expressed its concern over the allegation. </span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:Cambria"><span style="font-family:"Times New Roman"">The airlines wrote to New Business Age that it sold the air tickets as per the Global Distribution System to make it convenient for the passengers. </span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:Cambria"><span style="font-family:"Times New Roman"">"To compete in agency services as well, any local travel agency registered with the International Aviation Industry Association (IATA) will be able to sell tickets and passengers will be able to buy tickets with a travel agency that suits them," a press statement of the airlines reads.</span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:Cambria"><span style="font-family:"Times New Roman"">"All the tickets have been sold through the global ticket distribution system which is accessible to all the agencies and all the fares are also accessible to all the agencies through this system. The system is completely transparent and competitive between agencies, from which passengers can benefit from the quality of service and service charges. Since these flights have to carry one-way passengers, that is, the aircraft has to be brought back empty, it is natural that the fares will be proportionally higher than the regular flights," the statement further added.</span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:Cambria"><span style="font-family:"Times New Roman"">Himalaya Airlines said it believes that agencies do not charge exorbitant fees. However, if an agency submits evidence of unduly excessive charges to a passenger, the airline company will recommend to the relevant regulatory body for necessary action.</span></span></span></p> <p> </p> ', 'published' => true, 'created' => '2021-05-21', 'modified' => '2021-05-21', 'keywords' => '', 'description' => '', 'sortorder' => '13170', 'image' => '20210521022538_20191020090205_aaaa.jpg', 'article_date' => '2021-05-21 14:24:57', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 2 => array( 'Article' => array( 'id' => '13424', 'article_category_id' => '1', 'title' => 'MPs Given Deadline Until 5PM Today to Choose New Prime Minister', 'sub_title' => '', 'summary' => 'May 21: President Bidya Devi Bhandari has initiated the process of formation of a new government in accordance with Article 76 (5) of the Constitution of Nepal.', 'content' => '<p><em>President Bidya Devi Bhandari. Photo Courtesy: Government of Nepal</em></p> <p><span style="font-size:11pt"><span style="font-family:Cambria"><span style="font-family:"Arial Unicode MS"">May 21: President Bidya Devi Bhandari has initiated the process of formation of a new government in accordance with Article 76 (5) of the Constitution of Nepal.</span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Cambria"><span style="font-family:"Arial Unicode MS"">The president has called upon the Members of Parliament (MPs) to submit their claim for the premiership till 5:00 pm on May 21. </span><br /> <span style="font-family:"Arial Unicode MS"">Deputy Spokesperson at the Office of the President, Keshav Prasad Ghimire, informed that the president made such call to initiate the process for the appointment of a new prime minister upon the request of Prime Minister KP Sharma Oli. </span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Cambria"><span style="font-family:"Arial Unicode MS""> The Council of Ministers had decided on May 20 to initiate a new process to appoint the prime minister in accordance with Article 76 (5). </span></span></span></p> ', 'published' => true, 'created' => '2021-05-21', 'modified' => '2021-05-21', 'keywords' => '', 'description' => '', 'sortorder' => '13169', 'image' => '20210521110826_Rt._Hon._President-819x1024.jpg', 'article_date' => '2021-05-21 11:07:24', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 3 => array( 'Article' => array( 'id' => '13423', 'article_category_id' => '1', 'title' => 'CAN Federation Urges Government to Maximize use of ICT to Contain Coronavirus', 'sub_title' => '', 'summary' => 'May 21: The Federation of Computer Association Nepal (CAN) has urged all the stakeholders to make the optimal use of Information and Communication Technologies (ICT) to contain the second wave of coronavirus.', 'content' => '<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:12.0pt"><span style="font-family:"Times New Roman"">May 21: The Federation of Computer Association Nepal (CAN) has urged all the stakeholders to make the optimal use of Information and Communication Technologies (ICT) to contain the second wave of coronavirus.</span></span></span></span></p> <p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:12.0pt"><span style="font-family:"Times New Roman"">In light of the increasing new COVID-19 infections and patients not getting ICU beds, CAN Federation has requested the government to provide real time information with use of ICT. It has sought attention of the government and concerned stakeholders for updating the information uploaded on Health Management Information System (HMIS) on an hourly basis instead of a daily basis. </span></span></span></span></p> <p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:12.0pt"><span style="font-family:"Times New Roman"">Issuing a press statement, the federation said it is always ready to provide the required ICT materials and other support in this regard.</span></span></span></span></p> <p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:12.0pt"><span style="font-family:"Times New Roman"">The federation has also sought attention of the government to consider the ICT services as essential one. It further states that telecommunication service is classified as essential service but purchase and repair of computer related devices are not allowed. Likewise, online classes are running but operation of business related to maintenance of computers and mobile phones are prohibited which might risk the effectiveness of prohibitory order in the days to come. </span></span></span></span></p> <p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:12.0pt"><span style="font-family:"Times New Roman"">CAN Federation has asked the government to make necessary arrangements to facilitate home delivery service as buying items online is convenient at this time. Similarly, it has also requested the concerned authorities to promote e-banking for the purchase of daily essentials.</span></span></span></span></p> <p> </p> ', 'published' => true, 'created' => '2021-05-21', 'modified' => '2021-05-21', 'keywords' => '', 'description' => '', 'sortorder' => '13168', 'image' => '20210521104816_27524978.jpg', 'article_date' => '2021-05-21 10:47:40', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 4 => array( 'Article' => array( 'id' => '13422', 'article_category_id' => '1', 'title' => 'Five Companies Apply for License of Reinsurance Company', 'sub_title' => '', 'summary' => 'May 20: Five new companies have submitted applications to the Insurance Board for establishing a new reinsurance company.', 'content' => '<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:12.0pt"><span style="font-family:"Times New Roman"">May 20: Five new companies have submitted applications to the Insurance Board for establishing a new reinsurance company. The board had called for applications to establish a new reinsurance company with private investment. </span></span></span></span></p> <p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:12.0pt"><span style="font-family:"Times New Roman"">The Insurance Board has received five applications until the last day for submission of applications on May 19. It had published a notice on April 29 seeking applications from the private sector. Applications were sought for opening a new reinsurance company to make the insurance market more competitive, effective and productive. </span></span></span></span></p> <p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:12.0pt"><span style="font-family:"Times New Roman"">Companies namely Kathmandu Reinsurance Company, Annapurna Reinsurance Company, Prudential Reinsurance Company, Himalayan Reinsurance Company and Genuine Reinsurance Company have submitted applications to the board. </span></span></span></span></p> <p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:12.0pt"><span style="font-family:"Times New Roman"">Raju Raman Poudel, executive director of the board, confirmed that applications have been received from five companies. The board will study the applications properly before taking any further steps.</span></span></span></span></p> <p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:12.0pt"><span style="font-family:"Times New Roman"">Currently only one state-owned reinsurance company -- Nepal Reinsurance Company -- is in operation in the country.</span></span></span></span></p> <p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:12.0pt"><span style="font-family:"Times New Roman"">Poudel said that the board received more applications that they were expecting.</span></span></span></span></p> <p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:12.0pt"><span style="font-family:"Times New Roman"">"During the evaluation process, the company receiving the highest marks will get the license for operation," he added. </span></span></span></span></p> <p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:12.0pt"><span style="font-family:"Times New Roman"">Former Finance Minister Yuba Raj Khatiwada had been stressing on the need of a new reinsurance company. Since then, the board had been studying this prospect by forming a committee. The study had recommended the need of an additional reinsurance company. Then the board started preparations to set up a new reinsurance company.</span></span></span></span></p> <p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:12.0pt"><span style="font-family:"Times New Roman"">According to Poudel it is not possible to ask the companies that have submitted applications to collaborate and come together. It would have been possible if the number of applicants were few. He said that only one of the five applicants will receive a license to set up a new reinsurance company.</span></span></span></span></p> <p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:12.0pt"><span style="font-family:"Times New Roman"">The board has also set various criteria and conditions for the new reinsurance company. The companies will be evaluated on the basis of those criteria. The proposed company should have a paid-up capital of Rs 10 billion. Likewise, investors of Nepal Reinsurance Company, which is currently in operation, are not allowed to invest in the proposed company. </span></span></span></span></p> <p> </p> ', 'published' => true, 'created' => '2021-05-20', 'modified' => '2021-05-20', 'keywords' => '', 'description' => '', 'sortorder' => '13167', 'image' => '20210520071206_20210315114314_20200630093335_Reinsurance.jpg', 'article_date' => '2021-05-20 19:11:26', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 5 => array( 'Article' => array( 'id' => '13421', 'article_category_id' => '1', 'title' => 'SC Orders Government not to Fine Taxpayers during Lockdown ', 'sub_title' => '', 'summary' => 'May 20: The Supreme Court has issued an interim order asking the government not to fine taxpayers for the delay in submission of VAT and tax within the stipulated deadline', 'content' => '<p><span style="font-size:12pt"><span style="font-family:Cambria"><span style="font-family:Arial">May 20: The Supreme Court has issued an interim order asking the government not to fine taxpayers for the delay in submission of VAT and tax within the stipulated deadline taking into consideration the enforcement of prohibitory order in most parts of the country. </span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:Cambria"><span style="font-family:Arial">The interim order in the name of the government has brought relief to the private sector affected by the prohibitory order aimed at curbing the Covid-19 outbreak.</span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:Cambria"><span style="font-family:Arial">Hearing on a writ petition filed by advocate Srijana Adhikari, a single bench of Justice Meera Khadka on Wednesday, May 19, ordered the government not to fine private companies failing to fill the value-added tax details and tax on time due to the lockdown.</span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:Cambria"><span style="font-family:Arial">"Do not collect fines from the companies failing to fill the value-added tax statement and tax on time due to the lockdown," the order states. </span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:Cambria"><span style="font-family:Arial">“Necessary arrangements should be made to pay the taxes within 30 days after the lockdown is lifted," the order added. </span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:Cambria"><span style="font-family:Arial">The order has also asked the finance ministry to submit a written reply in this regard within 15 days. </span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:Cambria"><span style="font-family:Arial">Adhikari had filed a writ petition against the Inland Revenue Department alleging the office for imposing the fine without providing sufficient information regarding tax submission on the website.</span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:Cambria"><span style="font-family:Arial">Last year, the government had allocated a time limit for the private sector to submit VAT and tax during the lockdown, which is not the case during the ongoing prohibitory order. Most districts in Nepal are currently under prohibitory orders since late April.</span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:Cambria"><span style="font-family:Arial">However, the Inland Revenue Department has been urging the taxpayers to submit the details including tax payment through various means.</span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:Cambria"><span style="font-family:Arial">The private sector had demanded the government to extend the period for submitting tax details and to extend the tax payment period, citing the ongoing lockdown and the employees suffering from Covid-19. However, the government has intensified tax collection, saying that it is in no hurry to make a decision. </span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:Cambria"><span style="font-family:Arial">Entrepreneurs say that the private sector is relieved from the court order. Chairman of Nepal Chamber of Commerce Rajendra Malla said that the recent monetary policy and Supreme Court order have given some respite to the private sector.</span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:Cambria"><span style="font-family:Arial">"We, the industrialists and businessmen, are the citizens of this country and we know that we have to abide by the law. But given the difficult situation, we asked the government to give us time to pay taxes and submit details. However, the governmrnt did not show any concern," said Malla.</span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:Cambria"><span style="font-family:Arial">The order of the Supreme Court and the provision of the monetary policy should be implemented in a way to benefit the private sector, added Malla.</span></span></span></p> <p> </p> <p><span style="font-size:12pt"><span style="font-family:Cambria"> </span></span></p> <p><br /> <br /> <br /> <br /> </p> <p> </p> ', 'published' => true, 'created' => '2021-05-20', 'modified' => '2021-05-20', 'keywords' => '', 'description' => '', 'sortorder' => '13166', 'image' => '20210520014546_20201127115547_20200417094838_CKC_ktm.jpg', 'article_date' => '2021-05-20 13:45:06', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 6 => array( 'Article' => array( 'id' => '13420', 'article_category_id' => '1', 'title' => 'NATTA urges Government to Facilitate Safe Return of Tourists', 'sub_title' => '', 'summary' => 'May 20: Nepal Association of Tour and Travel Agents (NATTA) has urged the government to create a favourable environment for foreign visitors to return home from Nepal. ', 'content' => '<p><span style="font-family:Arial,Helvetica,sans-serif"><span style="font-size:18px">May 20: Nepal Association of Tour and Travel Agents (NATTA) has urged the government to create a favourable environment for foreign visitors to return home from Nepal. <br /> Issuing a recent press statement, Acting President of NATTA, Binay Basnet, urged the government to facilitate in the return of foreign tourists who are stranded in Nepal. <br /> According to NATTA, the foreign tourists are stranded due to suspension of domestic and international flights amid second wave of Covid-19. <br /> NATTA has also urged the government to collect data of foreign tourists in Nepal and to operate two to three international flights per week to airlift the visitors.</span></span></p> <p><span style="font-family:Arial,Helvetica,sans-serif"><span style="font-size:18px">The umbrella body of travel agents also urged the government to give permission for regular flights from May 25 onwards. It also drew the attention of the government to grant permission for chartered flights for international destinations. <br /> </span></span></p> ', 'published' => true, 'created' => '2021-05-20', 'modified' => '2021-05-20', 'keywords' => '', 'description' => '', 'sortorder' => '13165', 'image' => '20210520114517_20200930115831_1601420205.89.jpg', 'article_date' => '2021-05-20 11:44:13', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 7 => array( 'Article' => array( 'id' => '13419', 'article_category_id' => '1', 'title' => 'Himalayan Airlines Airlifts Stranded Indian Nationals from Kathmandu to Saudi Arabia', 'sub_title' => '', 'summary' => 'May 19: Himalaya Airlines operated three chartered flights to airlift stranded Indian nationals from Kathmandu to Dammam, Saudi Arabia, on Tuesday (May 18).', 'content' => '<p><span style="font-size:12pt"><span style="font-family:Cambria">May 19: Himalaya Airlines operated three chartered flights to airlift stranded Indian nationals from Kathmandu to Dammam, Saudi Arabia, on Tuesday (May 18).<br /> Himalaya Airlines scheduled the chartered flights in line with the Government of Nepal’s decision to transport stranded Indian nationals from Kathmandu to Saudi Arabia.<br /> The airline company confirmed to New Business Age that the three flights took off from Kathamndu for Dammam on May 18. However, the airline company said it boarded passengers up to 85 percent of its capacity amid safety concerns regarding transmission of coronavirus.<br /> The airlines scheduled the three chartered flights- H9-5761, H9-5751, and H9-5601- to Dammam from Kathmandu on May 18 at 8:50 am, 11:40 am, and 21:50 local time.<br /> The airline company charged USD 820 for one-way fare. Passengers were allowed to load 30 kg check-in baggage, and 7 kg hand-carry.<br /> Similarly, passengers were required to present proof of PCR negative certificate, at the time of boarding the flight.<br /> It is mandatory for all passengers to stay in quarantine upon reaching Saudi Arabia.</span></span></p> <p> </p> ', 'published' => true, 'created' => '2021-05-19', 'modified' => '2021-05-19', 'keywords' => '', 'description' => '', 'sortorder' => '13164', 'image' => '20210519041501_20190402115618_A320.jpg', 'article_date' => '2021-05-19 16:14:05', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 8 => array( 'Article' => array( 'id' => '13418', 'article_category_id' => '1', 'title' => 'NAST Succeeds in Test Production of Oxygen Cylinders ', 'sub_title' => '', 'summary' => 'May 19: Nepal Academy of Science and Technology (NAST) has tested the production of oxygen gas cylinder for the first time in Nepal. ', 'content' => '<p><span style="font-size:12pt"><span style="font-family:Cambria"><span style="font-family:"Times New Roman"">May 19: Nepal Academy of Science and Technology (NAST) has tested the production of oxygen gas cylinder for the first time in Nepal. At a time when oxygen cylinders are in short supply, new cylinders are being manufactured and tested within the country. </span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:Cambria"><span style="font-family:"Times New Roman"">The test started after Minister for Education Krishna Gopal Shrestha inspected the production facility on Tuesday, May 18, 2021. </span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:Cambria"><span style="font-family:"Times New Roman"">Shrestha expressed commitment to take initiative to fulfill the shortage of zeolite used for making oxygen. Furthermore, he said that the government would extend full support to this initiative of NAST. </span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:Cambria"><span style="font-family:"Times New Roman"">Stating that there is no oxygen production plant in big hospitals, he said, “If the provision of an oxygen plant was made mandatory in the hospital when giving permission to operate hospitals in the past, there would have been no shortage at present.” </span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:Cambria"><span style="font-family:"Times New Roman"">With the success of the test, the government will now give permission to various companies to produce cylinders to meet the demand. Chief of the Faculty of Technology at NAST, Dr Rabindra Dhakal, said commercial production will be allowed after discussing with the manufacturing companies. </span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:Cambria"><span style="font-family:"Times New Roman"">According to him, the minimum price of a cylinder available in the country costs around Rs 15,000, while the cylinders produced with the technology of NAST will cost less than Rs 10,000. </span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:Cambria"><span style="font-family:"Times New Roman"">Minister Shrestha, who arrived at NAST’s headquarters in Lalitpur to observe the test, appreciated the team including vice chancellor Dr Sunil Babu Shrestha and scientist Shankar Dhakal. </span></span></span></p> <p> </p> <p> </p> ', 'published' => true, 'created' => '2021-05-19', 'modified' => '2021-05-19', 'keywords' => '', 'description' => '', 'sortorder' => '13163', 'image' => '20210519040512_20210503015716_20210429095930_Medical-Oxygen-Gas-Cylinders-Market.jpg', 'article_date' => '2021-05-19 16:04:00', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 9 => array( 'Article' => array( 'id' => '13417', 'article_category_id' => '1', 'title' => 'Revenue Advisory Committee Recommends the Government to Monitor Ecommerce Sector', 'sub_title' => '', 'summary' => 'May 19: The Revenue Advisory Committee has recommended the government to monitor ecommerce businesses and digital payment to facilitate revenue collection in the country. ', 'content' => '<p><span style="font-size:12pt"><span style="font-family:Cambria"><span style="font-family:"Times New Roman"">May 19: The Revenue Advisory Committee has recommended the government to monitor ecommerce businesses and digital payment to facilitate revenue collection in the country. In a report submitted to the Ministry of Finance (MoF), the committee has suggested the government to formulate tax policies to sustain the growing online business that has boomed with the COVID-19 pandemic and bring it under the network of tax. </span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:Cambria"><span style="font-family:"Times New Roman"">The report submitted to the Finance Minister Bishnu Poudel suggests programmes that the government should include in the budget of the upcoming fiscal year. It has also suggested the government to bring timely reforms in the tax system. </span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:Cambria"><span style="font-family:"Times New Roman"">The report states that a detailed study is required to change the revenue structure. It has suggested to look into the demands raised by the private sector regarding VAT issue and form an appropriate policy. </span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:Cambria"><span style="font-family:"Times New Roman"">Other subject matters of the report include providing compensation packages to the tourism and service sectors, review customs revenue, changing excise duty structure and studying the rate of excise duty being levied on special items. It has recommended the government to adopt a policy that avoids duplication of tax in the three levels of the government.</span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:Cambria"><span style="font-family:"Times New Roman"">Mahesh Dahal, chairman of the committee, said that suggestions have been provided to the government to adopt investment-friendly tax policies to increase production, employment opportunities and attract private sector investment. </span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:Cambria"><span style="font-family:"Times New Roman"">"The report has recommended the government to be mindful of new areas of tax as well as tax policies that the government should introduce in the upcoming fiscal year," said Dahal.</span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:Cambria"><span style="font-family:"Times New Roman"">The Revenue Advisory Committee is an independent body that has been providing recommendations to the Ministry of Finance to carry out tax reforms since 2019. It is authorized to act as a think tank on revenue issues. It carries out interactive programmes in all seven provinces with the participation of the private sector to gather revenue-related recommendations. </span></span></span></p> <p><br /> </p> ', 'published' => true, 'created' => '2021-05-19', 'modified' => '2021-05-19', 'keywords' => '', 'description' => '', 'sortorder' => '13162', 'image' => '20210519021352_20210314014808_20190408115552_20160717125003_finance-ministy.jpg', 'article_date' => '2021-05-19 14:12:50', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 10 => array( 'Article' => array( 'id' => '13416', 'article_category_id' => '1', 'title' => 'Nepal Rastra Bank rules out possibility of achieving 4% growth as projected by CBS ', 'sub_title' => '', 'summary' => 'Nepal Rastra Bank (NRB) has said that 4.01 percent of economic growth in the curent fiscal year 20120/21 as projected by the Central Bureau of Statistics is now difficult to achieve. ', 'content' => '<p>May 19: Nepal Rastra Bank (NRB) has said that 4.01 percent of economic growth in the curent fiscal year (FY20120/21) as projected by the Central Bureau of Statistics (CBS) is now difficult to achieve. </p> <p>Releasing its third quarterly report of the monetary policy for the current fiscal year on Wednesday, the central bank ruled out the possibility of achieving the growth of 4.01 percent as estimated by the CBS in April. </p> <p>Stating that the economy was heading toward recovery until nine months of the current fiscal year, the central bank said that the second wave of Covid-19 and subsequent prohbitory measures introduced in many parts of the country pose a challenge even to achieve the economic growth rate of 4 percent. </p> <p>“Economic activities were gaining momentum after the lockdown was lifted following the decline in first wave of Covid-19 infection. Against this backdrop, the CBS projects the economy to grow by 4 percent,” read the third quarterly report of the monetary policy. “However, it is difficult to achieve the estimated growth as the second wave is hitting the economy before the revival,” it added. </p> <p>Earlier on April 30, the CBS had made a preliminary estimate of 4.01 percent of economic growth in the current fiscal year from a contraction of 2.1 percent in the previous fiscal year. The estimate, based on available information and figures of seven to nine months of the current fiscal year, did not take into consideration the impacts of prohibitory measures introduced by local administrations in many parts of the country to control the spread of the second wave of coronavirus. </p> <p>Though the CBS officials had said that their projection was based on an assumption that all economic activities will operate in normal condition after two weeks, the ongoing lockdown, imposed through prohibitory orders from April 29, is already extended till May 27 in the Kathmandu Valley. </p> <p><br /> </p> ', 'published' => true, 'created' => '2021-05-19', 'modified' => '2021-05-19', 'keywords' => '', 'description' => '', 'sortorder' => '13161', 'image' => '20210519124440_20210430085017_CBS Growth.jpg', 'article_date' => '2021-05-19 12:34:40', 'homepage' => true, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => false, 'user_id' => '35' ) ), (int) 11 => array( 'Article' => array( 'id' => '13415', 'article_category_id' => '1', 'title' => 'Central Bank Tells BFIs to Save Lives under CSR', 'sub_title' => '', 'summary' => 'May 19: Nepal Rastra Bank (NRB) has directed banks and financial institutions to support people suffering from Covid-19 with oxygen supply and medical aid under their Corporate Social Responsibility (CSR).', 'content' => '<p><span style="font-size:11pt"><span style="font-family:Cambria"><span style="font-size:14.0pt"><span style="font-family:"Arial Unicode MS"">May 19</span></span><strong><span style="font-size:14.0pt"><span style="font-family:"Arial Unicode MS"">: </span></span></strong><span style="font-size:14.0pt"><span style="font-family:"Arial Unicode MS"">Nepal Rastra Bank (NRB) has directed banks and financial institutions to support people suffering from Covid-19 with oxygen supply and medical aid under their Corporate Social Responsibility (CSR).</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Cambria"><span style="font-size:14.0pt"><span style="font-family:"Arial Unicode MS"">The central bank issued such directive on May 18 in the third quarterly review of the monetary policy of the current fiscal year. </span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Cambria"><span style="font-size:14.0pt"><span style="font-family:"Arial Unicode MS"">This is expected to help the treatment of COVID-19 infected patients, the central bank said. </span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Cambria"><span style="font-size:14.0pt"><span style="font-family:"Arial Unicode MS"">"Under the CSR, arrangement shall be made to contribute funds to save people's lives in public interest and philanthropic works across the country," the state-owned national news agency RSS quoted the central bank as saying.</span></span></span></span></p> <p> </p> <p> </p> ', 'published' => true, 'created' => '2021-05-19', 'modified' => '2021-05-19', 'keywords' => '', 'description' => '', 'sortorder' => '13160', 'image' => '20210519123138_20200419015315_bank-malware.jpg', 'article_date' => '2021-05-19 12:30:29', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => false, 'user_id' => '34' ) ), (int) 12 => array( 'Article' => array( 'id' => '13411', 'article_category_id' => '1', 'title' => 'Banks will not be Allowed to Auction Collateral Until One Month after Prohibitory Period: NRB', 'sub_title' => 'NRB also to ban BFIs from imposing penalty, additional charges on borrowers during prohibitory period ', 'summary' => '', 'content' => '<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt">May 18: Nepal Rastra Bank (NRB) has announced to forbid banks and financial institutions (BFIs) from publishing notices for auctioning collateral or recovering loans during the prohibitory period. This new provision will remain in force until one month after the prohibitory orders are lifted by the government authorities.</span></span></span></p> <p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt">Releasing the third quarterly review report of the monetary policy of the current fiscal year (FY 2020/21), the central bank said that it will make necessary arrangements to bar BFIs from publishing public notices to auction collaterals to recover their loans from borrowers during and after one month of the prohibitory period.<br /> The restriction to recover loans through auction will come into force after the central bank issues a circular to the BFIs to implement the provision, according to NRB officials who say that the circular will be issued 'soon'. </span></span></span></p> <p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt">The provision aims at providing protection to borrowers from BFIs auctioning their collateral to recover loans until one month after the prohibitory period ends.</span></span></span></p> <p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt">“The provision is intended to stop banks and financial institutions from moving ahead with the process of auction to recover loans from defaulters during this crisis. There won’t be much participation in the bank auction during the prohibitory period, either. Halting the recovery of loans through auction will also provide a relief to the borrowers who are hit hard by the Covid-19 pandemic,” Dev Kumar Dhakal, spokesperson of NRB, told New Business Age. </span></span></span></p> <p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt">Similarly, the NRB, in its third quarterly monetary policy review report, said that it will also introduce a provision to prohibit BFIs from imposing any penalty or other additional charges in loan repayment from borrowers during the prohibition period. <br /> </span></span></span></p> <p> </p> ', 'published' => true, 'created' => '2021-05-18', 'modified' => '2021-05-18', 'keywords' => '', 'description' => '', 'sortorder' => '13159', 'image' => '20210518043705_Nepal Rastra Bank.jpg', 'article_date' => '2021-05-18 16:30:01', 'homepage' => true, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => false, 'user_id' => '35' ) ), (int) 13 => array( 'Article' => array( 'id' => '13414', 'article_category_id' => '1', 'title' => '2,500 Oxygen Cylinders Imported from China via Tatopani Customs Point', 'sub_title' => '', 'summary' => 'May 18: With the increase in number of Covid-19 cases, the government has stepped up efforts to facilitate the import oxygen cylinders from China via Tatopani customs. ', 'content' => '<p><em>This file photo shows Tatopani Customs Point. Photo: NBA</em></p> <p><span style="font-size:12pt"><span style="font-family:Cambria"><span style="font-family:"Times New Roman"">May 18</span><span style="font-size:10.0pt"><span style="font-family:Times">: </span></span><span style="font-family:"Times New Roman"">With the increase in number of Covid-19 cases, the government has stepped up efforts to facilitate the import oxygen cylinders from China via Tatopani customs. </span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:Cambria"><span style="font-family:"Times New Roman"">Nepali businessmen had placed order for 18,000 empty oxygen cylinders, among which, 2,500 cylinders have been brought to the Tatopani customs point on Monday (May 17).</span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:Cambria"><span style="font-family:"Times New Roman"">The cylinders would be sent to the Kathmandu after physical inspection, said Tatopani Customs Chief Naradmani Gautam.</span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:Cambria"><span style="font-family:"Times New Roman"">“The government has directed us not to queue health-related items. Since the items are not eligible for taxation, the customs clearance procedures are being sped up in order to deliver the goods to Kathmandu soon,” said Gautam. The cylinders have been brought to Tatopani Customs from Khasa by following the proper health and safety measures, he added.</span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:Cambria"><span style="font-family:"Times New Roman"">The cylinders of 10 litre capacity were imported by Hima Trade Link. Ramesh Sherpa, chairman of the transport company, Silk Transport, mentioned that 15,000 additional oxygen cylinders, other health items and equipment have also arrived at Lhasa, Membu, Shigatse, Nyalam regions of China. He also notified that it would take approximately two weeks for those items to arrive at Tatopani Customs Point.</span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:Cambria"><span style="font-family:"Times New Roman"">Chairman Sherpa informed that the health items imported by Nepali businessmen include PPE sets, surgical masks, sanitizers and gloves. The Chinese administration has notified that the oxygen cylinders and health items that have arrived at Khasa region would be sent to Nepal only after the completion of medical protocol, he added.</span></span></span></p> <p> </p> <p> </p> ', 'published' => true, 'created' => '2021-05-18', 'modified' => '2021-05-18', 'keywords' => '', 'description' => '', 'sortorder' => '13158', 'image' => '20210518054607_20190510014655_Clipboard04-2.jpg', 'article_date' => '2021-05-18 17:45:07', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 14 => array( 'Article' => array( 'id' => '13413', 'article_category_id' => '1', 'title' => 'Finance Minister Instructs Officials to Ease Customs Clearance of Oxygen Cylinders', 'sub_title' => '', 'summary' => 'May 18: Finance Minister Bishnu Prasad Paudel has instructed concerned officials to ease the customs clearance process for importing oxygen cylinders and other medical equipment taking into consideration the current health crisis. ', 'content' => '<p><span style="font-size:16px"><span style="font-family:Cambria"><span style="font-family:"Times New Roman"">May 18: Finance Minister Bishnu Prasad Paudel has instructed concerned officials to ease the customs clearance process for importing oxygen cylinders and other medical equipment taking into consideration the current health crisis. </span></span></span></p> <p><span style="font-size:16px"><span style="font-family:Cambria"><span style="font-family:"Times New Roman"">He has directed the government bodies to ease and speed up the customs clearance of health supplies, equipment and medicines related to the prevention, treatment and control of Covid-19.</span></span></span></p> <p><span style="font-size:16px"><span style="font-family:Cambria"><span style="font-family:"Times New Roman"">In a virtual discussion held between the concerned bodies, Finance Minister Paudel directed the director general and deputy director general of the Department of Customs and heads of various customs offices to ease the supply by facilitating customs clearance and inspection without any hassles.</span></span></span></p> <p><span style="font-size:16px"><span style="font-family:Cambria"><span style="font-family:"Times New Roman"">Finance Minister Bishnu Paudel also instructed the officials to submit daily report containing information about the quantity and price of imported goods for the treatment of Covid-19.</span></span></span></p> <p><span style="font-size:16px"><span style="font-family:Cambria"><span style="font-family:"Times New Roman"">Finance Secretary Shishir Kumar Dhungana issued a directive to implement a brief procedure on customs clearance of goods related to prevention, control and treatment of Covid-19.</span></span></span></p> <p><span style="font-size:16px"><span style="font-family:Cambria"><span style="font-family:"Times New Roman"">Revenue Secretary Ram Saran Pudasaini instructed the officials to work effectively round the clock in coordination with the customs offices of the neighboring countries for speedy inspection.</span></span></span></p> <p><span style="font-size:16px"><span style="font-family:Cambria"><span style="font-family:"Times New Roman"">Yamlal Bhusal, director general of the Department of Customs, said that the department has formed a quick response team to facilitate the supply of essential items.</span></span></span></p> ', 'published' => true, 'created' => '2021-05-18', 'modified' => '2021-05-18', 'keywords' => '', 'description' => '', 'sortorder' => '13157', 'image' => '20210518053658_20201015115013_1602717511.Clipboard02.jpg', 'article_date' => '2021-05-18 17:35:53', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ) ) $current_user = null $logged_in = false $xml = falsesimplexml_load_file - [internal], line ?? include - APP/View/Elements/side_bar.ctp, line 133 View::_evaluate() - CORE/Cake/View/View.php, line 971 View::_render() - CORE/Cake/View/View.php, line 933 View::_renderElement() - CORE/Cake/View/View.php, line 1224 View::element() - CORE/Cake/View/View.php, line 418 include - APP/View/Articles/index.ctp, line 157 View::_evaluate() - CORE/Cake/View/View.php, line 971 View::_render() - CORE/Cake/View/View.php, line 933 View::render() - CORE/Cake/View/View.php, line 473 Controller::render() - CORE/Cake/Controller/Controller.php, line 968 Dispatcher::_invoke() - CORE/Cake/Routing/Dispatcher.php, line 200 Dispatcher::dispatch() - CORE/Cake/Routing/Dispatcher.php, line 167 [main] - APP/webroot/index.php, line 117
| Currency | Unit |
Buy | Sell |
| U.S. Dollar | 1 | 121.23 | 121.83 |
| European Euro | 1 | 131.65 | 132.31 |
| UK Pound Sterling | 1 | 142.47 | 143.18 |
| Swiss Franc | 1 | 124.29 | 124.90 |
| Australian Dollar | 1 | 71.69 | 72.05 |
| Canadian Dollar | 1 | 83.90 | 84.32 |
| Japanese Yen | 10 | 10.94 | 11.00 |
| Chinese Yuan | 1 | 17.17 | 17.26 |
| Saudi Arabian Riyal | 1 | 32.27 | 32.43 |
| UAE Dirham | 1 | 33.01 | 33.17 |
| Malaysian Ringgit | 1 | 27.36 | 27.50 |
| South Korean Won | 100 | 9.77 | 9.82 |
Update: 2020-03-25 | Source: Nepal Rastra Bank (NRB)
| Fine Gold | 1 tola | 77000.00 |
| Tejabi Gold | 1 tola | 76700.00 |
| Silver | 1 tola | 720.00 |
Update : 2020-03-25
Source: Federation of Nepal Gold and Silver Dealers' Association
| Petrol | 1 Liter | 106.00 |
| Diesel | 1 Liter | 95.00 |
| Kerosene | 1 Liter | 95.00 |
| LP Gas | 1 Cylinder | 1375.00 |
Update : 2020-03-25
