January 28: Japan International Cooperation Agency (JICA) has announced the completion of the rehabilitation of a section of the BP Highway in Sindhuli.…
January 28: Japan International Cooperation Agency (JICA) has announced the completion of the rehabilitation of a section of the BP Highway in Sindhuli.…
January 28: Nepal’s score at the Corruption Perceptions Index (CPI) has further slipped to 33 in 2020 from 34 in 2019, indicating that the perceived levels of public sector corruption in the country has increased in last one year.…
January 28: The latest analysis of the International Labour Organization (ILO), on the impact of COVID-19 on the labour market shows massive damage to working time and income.…
January 28: The government’s plan to export citrus fruits to China has suffered a setback after the northern neighbor denied permission for such deal.…
January 28: Chief of the World Food Program (WFP) has reportedly said that the COVID-19 pandemic has highlighted the need to strengthen vulnerable supply chains to impoverished nations struggling to feed their…
January 27: The technical aspect of setting up Nepal’s national payment switch to ensure safe and cost-effective electronic transactions is in the final phase of approval.…
January 27: The Government of Nepal, Investment Board and Risen Energy Singapore JV Pte Ltd have signed a Memorandum of Understanding (MoU) to prepare a Detailed Feasibility Study Report (DFSR) for establishing a 2500-megawatt Grid Connected Solar Energy Project with a battery storage plant of 40 MW capacity in…
January 27: Representatives of the Government of Nepal and the World Bank jointly launched the Nepal Urban Governance and Infrastructure Project on Wednesday, January 27.…
January 27: There are growing public complaints that the local levels of Okhaldhunga district have embezzled COVID-19 management funds.…
January 26: Over a dozen local governments have not presented their budget for the current fiscal year even after the end of first half of 2020-21, raising concerns over fiscal indiscipline at local…
January 27: Stating that improvement and modernization of customs services and infrastructure has been intensified, the Department of Customs has said it is ready for further facilitation in import and export of…
January 26: Farmers and other stakeholders have decided to start protest from January 27 against the government’s decision to allow foreign investment in agriculture sector of Nepal.…
January 26: Nepal Telecommunications Authority (NTA) has decided to test the quality of internet and mobile phone across the country at the same time.…
January 26: Business expansion of non-life insurance companies in Nepal is extremely low compared to life insurance…
January 26: Udaypur Cement Factory has started regular production of cement.…
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', 'content' => '<p><span style="font-size:11pt"><span style="font-family:Cambria">January 28: Japan International Cooperation Agency (JICA) has announced the completion of the rehabilitation of a section of the BP Highway in Sindhuli. </span></span></p> <p><span style="font-size:11pt"><span style="font-family:Cambria">According to JICA, the Sindhuli road was damaged in more than 24 places by the catastrophic earthquake on 25 April 2015 as well as its major aftershock on 12 May 2015.</span></span></p> <p><span style="font-size:11pt"><span style="font-family:Cambria">The Japanese government provided grant assistance to rehabilitate five critically damaged portions of the Sindhuli Road following upon the request of the Government of Nepal.</span></span></p> <p><span style="font-size:11pt"><span style="font-family:Cambria">Following an Exchange of Note (E/N) between the two governments, JICA signed an agreement on 25<sup>th</sup> October 2018 with Nepal to provide grant assistance of 1,047 million Japanese Yen. </span></span></p> <p><span style="font-size:11pt"><span style="font-family:Cambria">Issuing a statement, JICA said that the rehabilitated road section was inaugurated in a virtual ceremony on Thursday (January 28).</span></span></p> <p><span style="font-size:11pt"><span style="font-family:Cambria">“Rehabilitation of the Sindhuli road will facilitate smooth traffic flow, which will not only result in having a reliable link between Kathmandu and the Eastern Terai but also cater to the need of the public by creating better mobility, easier accessibility to health facilities and education, better economic socio-cultural activities,” the statement added. </span></span></p> <p><span style="font-size:11pt"><span style="font-family:Cambria"> Furthermore, one of the major outcome of the rehabilitation project is the transfer of advanced and effective technology to the Nepalese counterparts and engineers, mainly for the slope stabilization of the mountainous roads, JICA further said.</span></span></p> <p><span style="font-size:11pt"><span style="font-family:Cambria">The Sindhuli Road is one of the most important roads in Nepal that links the capital, with Eastern Terai. According to JICA, the construction of the Sindhuli Road, with a total length of 160 km, started with Japanese grant in 1996 and was completed in March 2015.</span></span></p> ', 'published' => true, 'created' => '2021-01-28', 'modified' => '2021-01-28', 'keywords' => '', 'description' => '', 'sortorder' => '12744', 'image' => '20210128070713_IMG_2102.JPG', 'article_date' => '2021-01-28 19:06:36', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => false, 'user_id' => '34' ) ), (int) 1 => array( 'Article' => array( 'id' => '12996', 'article_category_id' => '1', 'title' => 'Nepal’s Perceived Level of Corruption Increases ', 'sub_title' => 'Fall in the score to 33 also plunges Nepal’s global ranking to 117th position ', 'summary' => 'January 28: Nepal’s score at the Corruption Perceptions Index (CPI) has further slipped to 33 in 2020 from 34 in 2019, indicating that the perceived levels of public sector corruption in the country has increased in last one year. ', 'content' => '<p><span style="font-size:18px"><span style="font-family:Calibri">January 28: Nepal’s score at the Corruption Perceptions Index (CPI) has further slipped to 33 in 2020 from 34 in 2019, indicating that the perceived levels of public sector corruption in the country has increased in last one year. </span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri">The fall in the score also plunged Nepal into 117<sup>th</sup> position in the global ranking in 2020’s index from 113<sup>th</sup> in 2019 out of 180 countries and territories included in the research by Transparency International. </span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri">Transparency International uses a scale of 0 to 100 to measure the perceived levels of public sector corruption in the countries and territories included in the index where 0 is regarded as highly corrupt and 100 is very clean.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri">The deterioration of both score and ranking of Nepal indicates that the country’s corruption has become more prevalent and authorities failed to tackle the tackle the grafts, according to good governance experts. </span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri">Though the drop in the score or ranking does not necessarily mean the corruption has increased in Nepal, it reflects the perception of levels of public sector corruption among experts and businesspeople. </span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri">Transparency International, however, put Nepal in a list of significant improver in Asia Pacific based on the country’s progress in last 10 years. According to the CPI, Nepal’s score rose to 6 from the CPI 2012. </span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri">According to Transparency International, more than two-thirds of countries score below 50 on this year’s CPI, with an average score of just 43. </span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri">As in the past, Denmark and New Zealand stood in the top of the CPI with 88 score while South Sudan and Somalia with scores of 12 each remained in the bottom. </span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri">In Asia, key economies such as India (40), Indonesia (37) and Bangladesh (26) experienced slow progress in anti-corruption efforts, with several government commitments to reform not yet materialising effectively, according to Transparency International. </span></span></p> <p> </p> <p> </p> <p> </p> ', 'published' => true, 'created' => '2021-01-28', 'modified' => '2021-01-28', 'keywords' => '', 'description' => '', 'sortorder' => '12743', 'image' => '20210128035011_11579841541.jpg', 'article_date' => '2021-01-28 15:49:10', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 2 => array( 'Article' => array( 'id' => '12995', 'article_category_id' => '1', 'title' => 'Job Loss due to Covid-19 Four Times more than Global Financial Crisis of 2008: ILO ', 'sub_title' => '', 'summary' => 'January 28: The latest analysis of the International Labour Organization (ILO), on the impact of COVID-19 on the labour market shows massive damage to working time and income. ', 'content' => '<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt">January 28: The latest analysis of the International Labour Organization (ILO), on the impact of COVID-19 on the labour market shows massive damage to working time and income. </span></span></span></p> <p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt">"Prospects for recovery in 2021 are slow, uneven and uncertain and needs early improvements supported by human-centred recovery policies," the seventh edition of the ILO Monitor: COVID-19 and the world of work estimates.</span></span></span></p> <p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt">The unprecedented disruption in 2020 due to the COVID-19 pandemic has led to greater job loss, four times greater than that during the global financial crisis over a decade ago.</span></span></span></p> <p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt">New annual estimates in the seventh edition of the ILO Monitor: COVID-19 and the world of work confirm the massive impact that labour markets suffered last year. The latest figures show that 8.8 percent of global working hours were lost for the whole of 2020 (relative to the fourth quarter of 2019), equivalent to 255 million full-time jobs or approximately quadruple the jobs lost during the 2009 global financial crisis.</span></span></span></p> <p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt">These lost working hours are accounted for either by reduced working hours for those in employment or “unprecedented” levels of employment loss, hitting 114 million people. Significantly, 71 percent of these employment losses (81 million people) came in the form of inactivity, rather than unemployment, meaning that people left the labour market because they were unable to work, perhaps because of pandemic restrictions, or simply ceased to look for work. Looking at unemployment alone drastically understates the impact of COVID-19 on the labour market.</span></span></span></p> <p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt">These massive losses resulted in an 8.3 per cent decline in global labour income, equivalent to USD 3.7 trillion or 4.4 per cent of global Gross Domestic Product (GDP).</span></span></span></p> <p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt">Women have been more affected than men due to labour market disruptions led by the pandemic. Globally, employment losses for women stand at 5 per cent, versus 3.9 per cent for men. In particular, women were much more likely than men to drop out of the labour market and become inactive.</span></span></span></p> <p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt">Younger workers have also been particularly hard hit, either losing jobs, dropping out of the labour force or delaying entry into it. The employment loss among youth (15-24 years old) stood at 8.7 per cent, compared to 3.7 per cent for adults.</span></span></span></p> <p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt">The report shows the uneven impact on different economic, geographic, and labour market sectors. It highlights concerns of a “K-shaped recovery”, whereby those sectors and workers hit hardest could be left behind in the recovery, leading to increasing inequality, unless corrective measures are taken.</span></span></span></p> <p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt">The worst affected sector has been accommodation and food services, where employment declined by more than 20 per cent, on average, followed by retail and manufacturing. In contrast, employment in information and communication, and finance and insurance, increased in the second and third quarters of 2020. However, mining, quarrying and utilities, witnessed a marginal growth.</span></span></span></p> <p> </p> ', 'published' => true, 'created' => '2021-01-28', 'modified' => '2021-01-28', 'keywords' => '', 'description' => '', 'sortorder' => '12742', 'image' => '20210128015934_maxresdefault.jpg', 'article_date' => '2021-01-28 13:58:32', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 3 => array( 'Article' => array( 'id' => '12994', 'article_category_id' => '1', 'title' => 'Government’s Plan to Export Citrus Fruits to China Suffers a Blow', 'sub_title' => '', 'summary' => 'January 28: The government’s plan to export citrus fruits to China has suffered a setback after the northern neighbor denied permission for such deal. ', 'content' => '<p><span style="font-size:12pt"><span style="font-family:"Times New Roman""><span style="font-size:14.0pt"><span style="font-family:"Arial Unicode MS"">January 28: The government’s plan to export citrus fruits to China has suffered a setback after the northern neighbor denied permission for such deal. </span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman""><span style="font-size:14.0pt"><span style="font-family:"Arial Unicode MS"">During Chinese President Xi Jinping’s state visit to Nepal last year, the Ministry of Agriculture and Livestock Development had signed an agreement with China’s Agriculture Department to export citrus fruits to the northern neighbour.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman""><span style="font-size:14.0pt"><span style="font-family:"Arial Unicode MS"">The Chinese government has delayed implementation of the agreement as a precautionary measure against coronavirus after the emergence of a new strain of coronavirus in China and many other countries.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman""><span style="font-size:14.0pt"><span style="font-family:"Arial Unicode MS"">The Ministry of Agriculture and Livestock Development had earlier claimed that it would start exporting citrus fruits to China from late January this year. However, China sent a letter to the government stating that it would not be able to import citrus fruits from Nepal this year citing security reasons at a time when the Government of Nepal had completed the preparation to export such fruits to China. Spokesperson at the ministry Dr Shree Ram Ghimire confirmed that China delayed implementation of the agreement citing security risk.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman""><span style="font-size:14.0pt"><span style="font-family:"Arial Unicode MS"">“We had completed all the preparations for exporting citrus fruits to China but the plan could not materialize due to China’s stance. We are hopeful that the fruits will be exported during next season,” said Dr Ghimire.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman""><span style="font-size:14.0pt"><span style="font-family:"Arial Unicode MS"">The farmers have now started selling the fruits in the domestic market.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman""><span style="font-size:14.0pt"><span style="font-family:"Arial Unicode MS"">Citrus fruits are mostly produced in hill districts of Ramechhap, Sindhuli, Doti, Dadheldhura, Baitadi, Okhaldhunga, Lamjung, Dhankuta, Palpa, Taplejung among others.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman""><span style="font-size:14.0pt"><span style="font-family:"Arial Unicode MS"">According to government data, Nepal produces 177,000 metric tons of oranges, 39,000 metric tons of lemon and 43,000 metric tons of mandarin oranges annually.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman""><span style="font-size:14.0pt"><span style="font-family:"Arial Unicode MS"">Citrus fruits are cultivated in 56 districts of Nepal, but only 44 districts have started commercial farming.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman""><span style="font-size:14.0pt"><span style="font-family:"Arial Unicode MS"">Oranges produced in the country make up for 80 percent of the market demand while the remaining 20 percent is imported from foreign countries, according to the government data.</span></span></span></span></p> <p><img alt="" src="/app/webroot/userfiles/images/20201231121240_20190220125347_aaa.jpg" style="height:600px; width:800px" /></p> <p> </p> ', 'published' => true, 'created' => '2021-01-28', 'modified' => '2021-01-28', 'keywords' => '', 'description' => '', 'sortorder' => '12741', 'image' => '20210128102937_1611791192.Clipboard13.jpg', 'article_date' => '2021-01-28 10:28:44', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 4 => array( 'Article' => array( 'id' => '12993', 'article_category_id' => '1', 'title' => 'WFP Chief Warns of Vulnerable Supply Chains', 'sub_title' => '', 'summary' => 'January 28: Chief of the World Food Program (WFP) has reportedly said that the COVID-19 pandemic has highlighted the need to strengthen vulnerable supply chains to impoverished nations struggling to feed their populations.', 'content' => '<p><span style="font-size:12pt"><span style="font-family:"Times New Roman""><span style="font-size:16.5pt"><span style="font-family:Helvetica">January 28: Chief of the World Food Program (WFP) has reportedly said that the COVID-19 pandemic has highlighted the need to strengthen vulnerable supply chains to impoverished nations struggling to feed their populations.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman""><span style="font-size:16.5pt"><span style="font-family:Helvetica">According to the Associated Press (AP), David Beasley, executive director of the United Nations' Nobel Peace Prize-winning food program, said that the pandemic put further stress on supply chains getting food to the hungry.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman""><span style="font-size:16.5pt"><span style="font-family:Helvetica">“We’ve got to continue to work the system, we've got to make certain that we are ... less vulnerable to COVID type impacts,” AP quoted Beasley as saying in a virtual panel of the World Economic Forum.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman""><span style="font-size:16.5pt"><span style="font-family:Helvetica">“If you think you’ve had trouble getting toilet paper in New York, because of supply chain disruption, what do you think’s happening in Chad and Niger and Mali and places like that?”</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman""><span style="font-size:16.5pt"><span style="font-family:Helvetica">Beasley stressed that the food supply system is “not broken” but that 10 percent of the global population is in extreme poverty and need to be reached by suppliers and that the global pandemic exacerbated existing problems, AP reported.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman""><span style="font-size:16.5pt"><span style="font-family:Helvetica">He said that “with 270 million people on the brink of starvation, if we don’t receive the support and the funds that we need, you will have mass famine, starvation, you’ll have destabilization of nations and you’ll have mass migration. And the cost of that is a thousand times more.”</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman""><span style="font-size:16.5pt"><span style="font-family:Helvetica">Dutch Prime Minister Mark Rutte, whose country is a center for agricultural innovation and a major exporter of farm produce, announced that his country would host a global coordination center for regional “food innovation hubs” established by the World Economic Forum to help tackle what he called “food system challenges.”</span></span></span></span></p> <p> </p> ', 'published' => true, 'created' => '2021-01-28', 'modified' => '2021-01-28', 'keywords' => '', 'description' => '', 'sortorder' => '12740', 'image' => '20210128095846_55222278_403.jpg', 'article_date' => '2021-01-28 09:57:27', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 5 => array( 'Article' => array( 'id' => '12992', 'article_category_id' => '1', 'title' => 'Technical Report on National Payment Switch in Final Phase', 'sub_title' => '', 'summary' => 'January 27: The technical aspect of setting up Nepal’s national payment switch to ensure safe and cost-effective electronic transactions is in the final phase of approval. ', 'content' => '<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:"Arial Unicode MS"">January 27: The technical aspect of setting up Nepal’s national payment switch to ensure safe and cost-effective electronic transactions is in the final phase of approval. </span></span></span></span></p> <p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:"Arial Unicode MS"">Nepal Clearing House Limited (NCHL), which has been authorised by Nepal Rastra Bank (NRB) to prepare the switch, informed New Business Age that its technical report has been almost finalized.</span></span></span></span></p> <p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:"Arial Unicode MS"">NCHL Chairman Naresh Shakya said that the report will be presented to the Payments System Department of NRB in two to three days after internal discussion. </span></span></span></span></p> <p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:"Arial Unicode MS"">According to Shakya, all the electronic payment systems prevalent in the market including IPS, ConnectIPS, QR Code, debit and credit cards among others will be integrated in the national switch.</span></span></span></span></p> <p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:"Arial Unicode MS"">Shakya said that the technical report will be submitted to the central bank after a board meeting of the NCHL. The company is preparing to hire additional technical staff to complete the work.</span></span></span></span></p> <p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:"Arial Unicode MS"">Shakya informed that NCHL will only look after the technical aspect of the national payment switch while the legal issues, regulation and business aspects will be dealt with by the central bank.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:Cambria"><span style="font-size:14.0pt"><span style="font-family:"Arial Unicode MS"">Banks and financial institutions (BFIs) have been paying hefty price for digital transaction through international payment gateway like Visa and MasterCard due to lack of Nepal’s own payment gateway. The switch is crucial for connecting all the institutions involved in electronic transaction.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:Cambria"><span style="font-size:14.0pt"><span style="font-family:"Arial Unicode MS"">Currently, banks have been relying on international switch for the payment through debit and credit cards as well as for the use of ATMs. Some banks have made their own switch for this purpose.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:Cambria"><span style="font-size:14.0pt"><span style="font-family:"Arial Unicode MS"">Nepal Rastra Bank has been paying Rs 12 per transaction to the operators of foreign switch, according to NRB Spokesperson Gunakar Bhatta.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:Cambria"> </span></span></p> <p> </p> ', 'published' => true, 'created' => '2021-01-27', 'modified' => '2021-01-27', 'keywords' => '', 'description' => '', 'sortorder' => '12739', 'image' => '20210127064317_1611704925.Clipboard14.jpg', 'article_date' => '2021-01-27 18:42:43', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 6 => array( 'Article' => array( 'id' => '12991', 'article_category_id' => '1', 'title' => 'Government signs MoU with Singapore-based Company for Study of Biggest Solar Project in Nepal', 'sub_title' => '', 'summary' => 'January 27: The Government of Nepal, Investment Board and Risen Energy Singapore JV Pte Ltd have signed a Memorandum of Understanding (MoU) to prepare a Detailed Feasibility Study Report (DFSR) for establishing a 2500-megawatt Grid Connected Solar Energy Project with a battery storage plant of 40 MW capacity in Nepal.', 'content' => '<p><span style="font-size:11pt"><span style="font-family:Calibri"><span style="font-size:12.0pt"><span style="font-family:"Arial Unicode MS"">January 27: The Government of Nepal, Investment Board and Risen Energy Singapore JV Pte Ltd have signed a Memorandum of Understanding (MoU) to prepare a Detailed Feasibility Study Report (DFSR) for establishing a 250-megawatt Grid-Connected Solar Energy Project with a battery storage plant of 40 MW capacity in Nepal.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri"><span style="font-size:12.0pt"><span style="font-family:"Arial Unicode MS"">As per the MoU, Risen Energy will conduct a study on setting up one solar energy project of 125 megawatt capacity each in Kohalpur of Banke and Banganga of Kapilbastu along with two battery storage plants of 20 MW capacity each.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri"><span style="font-size:12.0pt"><span style="font-family:"Arial Unicode MS"">The estimated cost of the project is USD 189.5 million, according to Joint Secretary Ramesh Adhikari.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri"><span style="font-size:12.0pt"><span style="font-family:"Arial Unicode MS"">CEO of the Investment Board Sushil Bhatta and Development Manager of the Singapore-based company Wang Qiang signed the MoU amid a function at the board’s office on Tuesday, January 26.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri"><span style="font-size:12.0pt"><span style="font-family:"Arial Unicode MS"">Risen Energy will have to submit the DFSR to the board within 12 months of receiving survey license.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri"><span style="font-size:12.0pt"><span style="font-family:"Arial Unicode MS"">The proposed project is the biggest solar energy project in the country.</span></span></span></span></p> <p> </p> <p> </p> <p> </p> <p> </p> <p> </p> <p> </p> ', 'published' => true, 'created' => '2021-01-27', 'modified' => '2021-01-27', 'keywords' => '', 'description' => '', 'sortorder' => '12738', 'image' => '20210127053003_Risen MoU Photo.jpg', 'article_date' => '2021-01-27 17:28:51', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 7 => array( 'Article' => array( 'id' => '12990', 'article_category_id' => '1', 'title' => 'Government, World Bank Launch $150 million Urban Governance and Infrastructure Project ', 'sub_title' => '', 'summary' => 'January 27: Representatives of the Government of Nepal and the World Bank jointly launched the Nepal Urban Governance and Infrastructure Project on Wednesday, January 27. ', 'content' => '<p><span style="font-size:12pt"><span style="font-family:Cambria"><span style="font-size:14.0pt"><span style="font-family:Arial">January 27: Representatives of the Government of Nepal and the World Bank jointly launched the Nepal Urban Governance and Infrastructure Project on Wednesday, January 27. </span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:Cambria"><span style="font-size:14.0pt"><span style="font-family:Arial">According to the World Bank, secretary at the </span></span><span style="font-size:14.0pt"><span style="font-family:Arial">Ministry of Urban Development, Dr Ramesh Prasad Singh, and Lada Strelkova, World Bank Operations Manager for the Maldives, Nepal, and Sri Lanka, inaugurated the project.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:Cambria"><span style="font-size:14.0pt"><span style="font-family:Arial"> The World Bank said in a statement that the four-year project is financed by the bank to promote sustainable urban development and to support post-COVID-19 economic recovery in strategic secondary cities. </span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:Cambria"><span style="font-size:14.0pt"><span style="font-family:Arial">Aligned with Nepal’s federalism principles and the National Urban Development Strategy, the $150 million project puts the municipalities at the forefront of project implementation with a focus on strengthening service delivery and institutional capacities in strategic secondary cities and supporting post-COVID-19 economic recovery through labor intensive public works, the statement added. </span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:Cambria"><span style="font-size:14.0pt"><span style="font-family:Arial">“In the context of rapid urbanization, federalism, and the pandemic, delivering better urban services and responding to the needs of the population are critical. Given the urgent needs, result-oriented implementation of the project is required at all levels of government,” the statement quoted Secretary Singh as saying.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:Cambria"><span style="font-size:14.0pt"><span style="font-family:Arial">“The project complements the Government of Nepal’s existing programs and deepens the engagement on urban development through the establishment of dedicated funding for strategic urban infrastructure in the targeted cities,” he added. </span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:Cambria"><span style="font-size:14.0pt"><span style="font-family:Arial">The 17 project municipalities are located in two strategic urban clusters in the eastern region (Provinces 1 and 2) and western region (Gandaki and Lumbini provinces). The selected municipalities are critical to Nepal's economic development and are the centres for commercial and administrative activities in those regions, stated World Bank.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:Cambria"><span style="font-size:14.0pt"><span style="font-family:Arial">According to the World Bank, the project will also support 12 additional municipalities across Nepal’s seven provinces for labor-intensive public works activities, as well as supporting four municipalities for capacity building</span></span><span style="font-size:14.0pt"><span style="font-family:Arial">. Of the total credit, about 95 percent is allocated to the local levels.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:Cambria"><span style="font-size:14.0pt"><span style="font-family:Arial"> “As part of the World Bank’s COVID-19 response, the project will support over 20,000 of the most vulnerable and unemployed people at the local level to earn at least 50 days of wages through the creation of temporary employment opportunities in the maintenance and upgrading of public infrastructure,” stated Faris Hadad-Zervos, World Bank’s country director for the Maldives, Nepal, and Sri Lanka. “Working together with the government, development partners, and the private sector, the World Bank will aim to deliver results to strengthen federalism and capacity of the targeted municipalities to the benefit of the local population.”</span></span></span></span></p> <p> </p> ', 'published' => true, 'created' => '2021-01-27', 'modified' => '2021-01-27', 'keywords' => '', 'description' => '', 'sortorder' => '12737', 'image' => '20210127031530_world-bank.jpg', 'article_date' => '2021-01-27 15:13:41', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 8 => array( 'Article' => array( 'id' => '12989', 'article_category_id' => '1', 'title' => 'COVID-19 Budget Misappropriated in Staff Allowance and Internal Management ', 'sub_title' => '', 'summary' => 'January 27: There are growing public complaints that the local levels of Okhaldhunga district have embezzled COVID-19 management funds. ', 'content' => '<p><span style="font-size:11pt"><span style="font-family:Cambria"><span style="font-family:"Arial Unicode MS"">January 27: There are growing public complaints that the local levels of Okhaldhunga district have embezzled COVID-19 management funds. </span><br /> <span style="font-family:"Arial Unicode MS"">The local levels, which had set up separate funds for the prevention and control of global pandemic of coronavirus, have spent the public money in internal management and staff allowance rather than in the concrete measures against coronavirus. </span><br /> <span style="font-family:"Arial Unicode MS"">Some 71 staffers of Manebhanjyang rural municipality have received allowance amounting to Rs 1.58 million for their service during COVID-19 time. Manebhanjyang rural municipality which spent over Rs 3.85 million on coronavirus prevention had mobilized Rs 291,850 in canteen construction and Rs 478,876 in the procurement of medical appliances. </span><br /> <span style="font-family:"Arial Unicode MS"">Likewise, Khijidemba rural municipality has spent a budget of Rs 9 million in the early four months period of CoVID-19. It had spent over Rs 8.94 million in the heading of coronavirus prevention. Likewise, the rural municipality has channelized Rs 1.13 million to provide risk allowance to 350 employees. </span><br /> <span style="font-family:"Arial Unicode MS"">All the health workers and some employees mobilized in the rural municipality were provided with 50-100 percent allowance for their engagement in risk management. </span><br /> <span style="font-family:"Arial Unicode MS"">As disclosed the rural municipality has also spent Rs 92,892 on the heading of meeting meal and allowances to the attendees of local coordination committee for the control and prevention of COVID-19. </span><br /> <span style="font-family:"Arial Unicode MS"">Despite having people's representatives, employees, health workers and volunteers, the rual municipality is also found to have spent Rs 753,131 in the heading of remuneration to information facilitator. </span><br /> <span style="font-family:"Arial Unicode MS"">Some 18 information facilitators were mobilized for two months in the rural municipality. </span><br /> <span style="font-family:"Arial Unicode MS"">The facilitators were mobilized to identify the status of stranded citizens, collect details of the people with chronic disease in wards and plan the relief distribution, shared chief administrative officer of the rural municipality, Subash Poudel. </span><br /> <span style="font-family:"Arial Unicode MS"">These are only the representative cases of financial embezzlement taking place in the rural municipalities of Okhaldhunga during the time of COVID-19. Other local levels of the district are also found to have been engaged in siphoning off the public money. -- RSS </span></span></span></p> ', 'published' => true, 'created' => '2021-01-27', 'modified' => '2021-01-27', 'keywords' => '', 'description' => '', 'sortorder' => '12736', 'image' => '20210127115028_20200316-1-Coronavirus-update 2.jpg', 'article_date' => '2021-01-27 11:49:56', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 9 => array( 'Article' => array( 'id' => '12987', 'article_category_id' => '1', 'title' => '13 Local Bodies Fail to Present Budget Even after Six Months into Current FY', 'sub_title' => 'Spending without budget approval raises concerns over fiscal indiscipline in federalism', 'summary' => 'January 26: Over a dozen local governments have not presented their budget for the current fiscal year even after the end of first half of 2020-21, raising concerns over fiscal indiscipline at local levels.', 'content' => '<h1><span style="font-size:18px">SAGAR GHIMIRE</span></h1> <h1><span style="font-size:11pt"><span style="font-family:Calibri"><span style="font-size:14.0pt">January 27: Over a dozen local governments have not presented their budget for the current fiscal year even after the end of first half of 2020-21, raising concerns over fiscal indiscipline at local levels.</span></span></span></h1> <p><span style="font-size:11pt"><span style="font-family:Calibri"><span style="font-size:14.0pt">A total of 13 local governments are yet to present their annual budget. All of them are from Province 2, according to the Ministry of Federal Affairs and General Administration (MoFAGA). </span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri"><span style="font-size:14.0pt">The delay in presenting the budget and getting it approved from the respective assembly not only goes against the provisions of the Intergovernmental Fiscal Arrangement Act and the Local Government Operation Act, but raises concerns over the breach of fiscal discipline by subnational governments.</span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri"><span style="font-size:14.0pt">Local levels that include rural municipals, municipalities, sub-metropolis and metropolis are required to present their budget (estimate of revenue and expenditure) for the upcoming fiscal year by Asadh 10 (10<sup>th</sup>day of the Nepali calendar month of Asadh, which generally falls in the last week of June). </span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri"><span style="font-size:14.0pt">Excluding the expenses (not exceeding two-thirds of the expenditureof the current fiscal year) incurred when an appropriation bill is under consideration, local governments cannot make any expenditure without approval of the budget presented in their assemblies. </span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri"><span style="font-size:14.0pt">Elected representatives at local levels who fail to present the budget on time point out political disputes hampering the budget formulation process.</span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri"><span style="font-size:14.0pt">Mithila Bihari Municipality is one such local level which had struggled to convene its Municipal Assembly to get its budget for the current fiscal year 2020-21 approvedwithin the deadline of Asadh 10 (June 24 last year). After months of political bickering, the municipality finally held its assembly nearly two and a half months later.</span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri"><span style="font-size:14.0pt">“The political disputes in our municipality delayed the process. As some members of another political party were bent on stopping the Assembly from congregating to prove that I have failed, we could not convene the Assembly on time,” said Anil Kumar Yadav, mayor of Mithila Bihari Municipality. “However, after weeks of negotiations with those trying to disrupt the Assembly, we finally succeeded in convening the Assembly and getting the budget approved after two and a half months,” he added.</span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri"><span style="font-size:14.0pt">Dhanauji Rural Municipality in Province 2 faces the similar fate. Political wrangling among the elected representatives is blamed for the failure to convene the village assembly which approves the budget. </span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri"><span style="font-size:14.0pt">“Wards should formulate and send their plans that need to be included in the budget. However, there are disputes in some of the wards among elected representatives,” said Ramwati Devi Mandal, deputy chairperson of Dhanauji Rural Municipality. </span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri"><span style="font-size:14.0pt">“We also have not been able to forge consensus in the village executive to call the village assembly as there are elected representatives from various political parties,” she added. </span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri"><span style="font-size:14.0pt">Political dispute is not the only reason that has prevented local levels from holding their assemblies or getting the budget endorsed on time. Covid-19, corruption and lack of administrative capacity are also other factors that have hit the process of budget formulation and presentation, senior MoFAGA officials said.</span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri"><span style="font-size:14.0pt">They also say that there is little they can do to pressurise subnational governments for timely approval of budget or rein in spending that is not duly approved from their respective assemblies. </span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri"><span style="font-size:14.0pt">“We are practicing a federal system where provincial and local governments are as powerful as the central government. So, we cannot intervene from the federal level and tell them what to do and what not to do. Our effort is limited to following-up on where the process of convening the assembly has reached,” said a senior official at the MoFAGA, requesting anonymity as he is not authorised to talk to media. </span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri"><span style="font-size:14.0pt">However, the central government has warned that it would suspend disbursement of grants, like complementary and special grants, to subnational governments that are yet to pass their budget. </span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri"><span style="font-size:14.0pt">According to the senior official, the ministry is now also mulling over a possibility of freezing bank accounts of the local government that fails to get its budget approved by its assembly. </span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri"><span style="font-size:14.0pt">Fiscal experts say that spending taxpayers' money without the elected assembly’s endorsement amounts to irregularity. “Whatever justifications are made, it is a disregard for the accountability and transparency,” said Khim Lal Devkota, a fiscal federalization analyst. </span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri"><span style="font-size:14.0pt">He said that the central government should stop providing financial grants to those local governments until they get their budgetsapproved from their assemblies. </span></span></span></p> <p> </p> ', 'published' => true, 'created' => '2021-01-27', 'modified' => '2021-01-27', 'keywords' => '', 'description' => '', 'sortorder' => '12735', 'image' => '20210127091328_My Effect.jpg', 'article_date' => '2021-01-27 09:09:53', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => false, 'user_id' => '34' ) ), (int) 10 => array( 'Article' => array( 'id' => '12988', 'article_category_id' => '1', 'title' => 'CNI Demands Increase in Number of Customs Agents', 'sub_title' => '', 'summary' => 'January 27: Stating that improvement and modernization of customs services and infrastructure has been intensified, the Department of Customs has said it is ready for further facilitation in import and export of goods.', 'content' => '<p><span style="font-size:12pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:Arial">January 27: Stating that improvement and modernization of customs services and infrastructure has been intensified, the Department of Customs has said it is ready for further facilitation in import and export of goods.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:Arial">In a recent interaction organized by the Confederation of Nepalese Industries (CNI), Director General of the Department of Customs Suman Dahal informed that the one-door policy is now being implemented. He added that technology-based assessment and monitoring system is being adopted while the department will soon initiate the process for digital payment. </span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:Arial">Necessary preparations have been made to increase the number of customs agents, informed Director General Dahal. Stating that cooperation and coordination is needed for the improvement of customs infrastructure and integrated check posts, Director General Dahal requested the Confederation for assistance. </span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:Arial">CNI's acting Chairman Bishnu Kumar Agrawal urged the concerned authorities to expedite the process of customs infrastructure development while also demanding for the quick transition into digital platform.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:Arial">Agrawal also drew the attention of the department that the number of customs agents has not been increased since the last 25 years and therefore urged the department to issue new license to the agents.</span></span></span></span></p> <p> </p> ', 'published' => true, 'created' => '2021-01-27', 'modified' => '2021-01-27', 'keywords' => '', 'description' => '', 'sortorder' => '12734', 'image' => '20210127105631_Picture-1.jpeg', 'article_date' => '2021-01-27 10:55:53', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 11 => array( 'Article' => array( 'id' => '12986', 'article_category_id' => '1', 'title' => 'Farmers to Start Protest in the Capital from January 27', 'sub_title' => '', 'summary' => 'January 26: Farmers and other stakeholders have decided to start protest from January 27 against the government’s decision to allow foreign investment in agriculture sector of Nepal. ', 'content' => '<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:"Arial Unicode MS"">January 26: Farmers and other stakeholders have decided to start protest from January 27 against the government’s decision to allow foreign investment in agriculture sector of Nepal. They have accused the government of trying to sideline the domestic agro-industries by opening foreign investment in this sector.</span></span></span></span></p> <p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:"Arial Unicode MS"">Farmers, entrepreneurs involved in agriculture as well as small scale industries and 16 different organisations will be staging the protests in the capital starting from January 27.</span></span></span></span></p> <p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:"Arial Unicode MS"">A struggle committee has been formed under the coordination of Shivaram KC, chairman of Nepal Egg Producers Association.</span></span></span></span></p> <p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:"Arial Unicode MS"">The Federation of National Farmers Group, Central Livestock Cooperative Association, Dairy Industries’ Association, Nepal Dairy Association, Nepal Fishery Entrepreneurs’ Federation, Nepal Egg Producers Association, Nepal Poultry Farmers Association among others have decided to hold joint protest against the government’s decision. </span></span></span></span></p> <p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:"Arial Unicode MS"">The struggle committee has been creating awareness among farmers and entrepreneurs in the district level at the moment. After completing its awareness drive on January 26, the committee will shift its focus on Kathmandu-centric protests.</span></span></span></span></p> <p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:"Arial Unicode MS"">KC said that they initiated the protest programme to exert pressure on the government to take back its decision.</span></span></span></span></p> <p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:"Arial Unicode MS"">“Most of the agriculture businesses have just become self reliant while others are still struggling to stand on their own. Therefore, foreign investment in this sector should not be encouraged,” said KC.</span></span></span></span></p> <p> </p> ', 'published' => true, 'created' => '2021-01-26', 'modified' => '2021-01-26', 'keywords' => '', 'description' => '', 'sortorder' => '12733', 'image' => '20210126064057_20210106123441_20201105020829_cover.jpg', 'article_date' => '2021-01-26 18:40:25', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 12 => array( 'Article' => array( 'id' => '12985', 'article_category_id' => '1', 'title' => 'NTA to Test Internet Quality ', 'sub_title' => '', 'summary' => 'January 26: Nepal Telecommunications Authority (NTA) has decided to test the quality of internet and mobile phone across the country at the same time. ', 'content' => '<p><span style="font-size:11pt"><span style="font-family:Cambria"><span style="font-family:"Arial Unicode MS"">January 26: Nepal Telecommunications Authority (NTA) has decided to test the quality of internet and mobile phone across the country at the same time. </span><br /> <span style="font-family:"Arial Unicode MS"">Six companies have been shortlisted for the first round to test the quality of telecommunications service. NTA had released a tender notice seeking companies to test voice, data and internet quality last August. </span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Cambria"><span style="font-family:"Arial Unicode MS"">According to NTA Spokesperson Min Prasad Aryal, the selected companies are Mahakali-Mechi Technology and Suppliers, Professional Business Network, Jayabageshwori Construction and Suppliers on behalf of Smart Management and Research, Jaljala Builders and Infrastructures as E-Coil Pvt, Exclusive Everest Microtech JV and Intelco Solution. </span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Cambria"><span style="font-family:"Arial Unicode MS"">NTA will now seek the financial and technical proposals from the shortlisted companies for the next round. Based on their proposals, the best one will be picked, Aryal added. </span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Cambria"><span style="font-family:"Arial Unicode MS"">The NTA has already allocated Rs 6 million for this purpose.- RSS</span></span></span></p> ', 'published' => true, 'created' => '2021-01-26', 'modified' => '2021-01-26', 'keywords' => '', 'description' => '', 'sortorder' => '12732', 'image' => '20210126062610_20200326081545_NTC-launches-4G-in-Rara-Lake.jpg', 'article_date' => '2021-01-26 18:24:58', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 13 => array( 'Article' => array( 'id' => '12984', 'article_category_id' => '1', 'title' => 'Non-Life Insurance Companies Report a Slump in Business', 'sub_title' => '', 'summary' => 'January 26: Business expansion of non-life insurance companies in Nepal is extremely low compared to life insurance companies.', 'content' => '<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:"Arial Unicode MS"">January 26: Business expansion of non-life insurance companies in Nepal is extremely low compared to life insurance companies. Life insurance companies made brisk business even amid the coronavirus pandemic in the current fiscal year. However, non-life insurance companies could not match the pace of life insurance companies in business expansion.</span></span></span></span></p> <p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:"Arial Unicode MS"">In the first six months of the current fiscal year, the business of life insurance companies expanded by 32.12 percent whereas the business of non-life insurance companies grew by only 9.90 percent. The business of non-life insurance companies had expanded by 15 percent during the corresponding period of last fiscal year.</span></span></span></span></p> <p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:"Arial Unicode MS"">Currently, there are 20 non-life insurance companies in Nepal. Among them, 19 companies collected insurance premium of Rs 15.20 billion during the review period. The government-owned National Insurance Company’s details have not been included in this report because the company did not submit its financial report. </span></span></span></span></p> <p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:"Arial Unicode MS"">Non-life insurance is directly linked with the banking sector. They have to insure all those sectors where Banks and Financial Institutions (BFIs) have made investment. For instance, it is mandatory to insure houses built by taking loan from banks. However, of late, banks have not stepped up their investment in sectors likely to fall under the scope of insurance. That has also resulted in a slump in business of non-life insurance companies.</span></span></span></span></p> <p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:"Arial Unicode MS"">The sale of new vehicles has also declined in recent days. As a result, non-life insurance companies have not been able to make good business, says Sunil Ballav Panta, CEO of NLG Insurance Company.</span></span></span></span></p> <p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:"Arial Unicode MS"">He says insurance business might have suffered a setback due to increase in investment in the share market.</span></span></span></span></p> <p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:"Arial Unicode MS"">“The business of non-life insurance companies has definitely shrunk. But we must consider it satisfactory amid the current financial crisis induced by Covid-19,” says Panta.</span></span></span></span></p> <p> </p> ', 'published' => true, 'created' => '2021-01-26', 'modified' => '2021-01-26', 'keywords' => '', 'description' => '', 'sortorder' => '12731', 'image' => '20210126035250_20200223013317_aaaa.jpg', 'article_date' => '2021-01-26 15:52:15', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 14 => array( 'Article' => array( 'id' => '12983', 'article_category_id' => '1', 'title' => 'Udaypur Cement Factory Resumes Regular Production', 'sub_title' => '', 'summary' => 'January 26: Udaypur Cement Factory has started regular production of cement. ', 'content' => '<p><span style="font-size:11pt"><span style="font-family:Calibri"><span style="font-size:12.0pt"><span style="font-family:"Times New Roman"">January 26: Udaypur Cement Factory has started regular production of cement in almost ten months. Production of cement had been obstructed due to coronavirus as well as lack of raw materials.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri"><span style="font-size:12.0pt"><span style="font-family:"Times New Roman"">The factory had halted most of the production as it was without a general manager during this period.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri"><span style="font-size:12.0pt"><span style="font-family:"Times New Roman"">Newly-appointed General Manager Gopi Krishna Neupane informed New Business Age that he has emphasized on regular production rather than increasing production capacity at the moment. </span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri"><span style="font-size:12.0pt"><span style="font-family:"Times New Roman"">“The cement production at the factory was zero before I took charge,” Neupane said, adding, “The process to resolve problems related to staff, management as well as remuneration has been initiated.” </span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri"><span style="font-size:12.0pt"><span style="font-family:"Times New Roman"">He said that the issue of wage has been managed for the time being using the factory’s internal funds at a time when the sales and income of the industry have declined. However, Neupane informed that electricity tariff and revenue of Rs 500 million will be paid after they start full-fledged production. </span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri"><span style="font-size:12.0pt"><span style="font-family:"Times New Roman"">Udaypur Cement Factory has started selling 8,000 bags of cement per day, including the stock. </span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri"><span style="font-size:12.0pt"><span style="font-family:"Times New Roman"">The factory, which started production on Sunday, will now produce 12,000 sacks or 600 tonnes of cement on a daily basis. The daily production capacity of the cement factory is 16,000 sacks or 800 tons. The price of cement is Rs 741 per sack. </span></span></span></span></p> <p> </p> <p> </p> ', 'published' => true, 'created' => '2021-01-26', 'modified' => '2021-01-26', 'keywords' => '', 'description' => '', 'sortorder' => '12730', 'image' => '20210126030008_1611619104.Clipboard11.jpg', 'article_date' => '2021-01-26 14:59:25', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => false, '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
Warning (2): simplexml_load_file() [<a href='http://php.net/function.simplexml-load-file'>function.simplexml-load-file</a>]: I/O warning : failed to load external entity "" [APP/View/Elements/side_bar.ctp, line 60]file not found!Code Context// $file = 'http://aabhiyan:QUVLg8Wzs2F7G9N7@nepalstock.com.np/api/indexdata.xml';if(!$xml = simplexml_load_file($file)){$viewFile = '/var/www/html/newbusinessage.com/app/View/Elements/side_bar.ctp' $dataForView = array( 'articles' => array( (int) 0 => array( 'Article' => array( [maximum depth reached] ) ), (int) 1 => array( 'Article' => array( [maximum depth reached] ) ), (int) 2 => array( 'Article' => array( [maximum depth reached] ) ), (int) 3 => array( 'Article' => array( [maximum depth reached] ) ), (int) 4 => array( 'Article' => array( [maximum depth reached] ) ), (int) 5 => array( 'Article' => array( [maximum depth reached] ) ), (int) 6 => array( 'Article' => array( [maximum depth reached] ) ), (int) 7 => array( 'Article' => array( [maximum depth reached] ) ), (int) 8 => array( 'Article' => array( [maximum depth reached] ) ), (int) 9 => array( 'Article' => array( [maximum depth reached] ) ), (int) 10 => array( 'Article' => array( [maximum depth reached] ) ), (int) 11 => array( 'Article' => array( [maximum depth reached] ) ), (int) 12 => array( 'Article' => array( [maximum depth reached] ) ), (int) 13 => array( 'Article' => array( [maximum depth reached] ) ), (int) 14 => array( 'Article' => array( [maximum depth reached] ) ) ), 'current_user' => null, 'logged_in' => false ) $articles = array( (int) 0 => array( 'Article' => array( 'id' => '12997', 'article_category_id' => '1', 'title' => 'JICA Inaugurates Section of BP Highway Damaged by 2015 Earthquakes', 'sub_title' => '', 'summary' => 'January 28: Japan International Cooperation Agency (JICA) has announced the completion of the rehabilitation of a section of the BP Highway in Sindhuli. ', 'content' => '<p><span style="font-size:11pt"><span style="font-family:Cambria">January 28: Japan International Cooperation Agency (JICA) has announced the completion of the rehabilitation of a section of the BP Highway in Sindhuli. </span></span></p> <p><span style="font-size:11pt"><span style="font-family:Cambria">According to JICA, the Sindhuli road was damaged in more than 24 places by the catastrophic earthquake on 25 April 2015 as well as its major aftershock on 12 May 2015.</span></span></p> <p><span style="font-size:11pt"><span style="font-family:Cambria">The Japanese government provided grant assistance to rehabilitate five critically damaged portions of the Sindhuli Road following upon the request of the Government of Nepal.</span></span></p> <p><span style="font-size:11pt"><span style="font-family:Cambria">Following an Exchange of Note (E/N) between the two governments, JICA signed an agreement on 25<sup>th</sup> October 2018 with Nepal to provide grant assistance of 1,047 million Japanese Yen. </span></span></p> <p><span style="font-size:11pt"><span style="font-family:Cambria">Issuing a statement, JICA said that the rehabilitated road section was inaugurated in a virtual ceremony on Thursday (January 28).</span></span></p> <p><span style="font-size:11pt"><span style="font-family:Cambria">“Rehabilitation of the Sindhuli road will facilitate smooth traffic flow, which will not only result in having a reliable link between Kathmandu and the Eastern Terai but also cater to the need of the public by creating better mobility, easier accessibility to health facilities and education, better economic socio-cultural activities,” the statement added. </span></span></p> <p><span style="font-size:11pt"><span style="font-family:Cambria"> Furthermore, one of the major outcome of the rehabilitation project is the transfer of advanced and effective technology to the Nepalese counterparts and engineers, mainly for the slope stabilization of the mountainous roads, JICA further said.</span></span></p> <p><span style="font-size:11pt"><span style="font-family:Cambria">The Sindhuli Road is one of the most important roads in Nepal that links the capital, with Eastern Terai. According to JICA, the construction of the Sindhuli Road, with a total length of 160 km, started with Japanese grant in 1996 and was completed in March 2015.</span></span></p> ', 'published' => true, 'created' => '2021-01-28', 'modified' => '2021-01-28', 'keywords' => '', 'description' => '', 'sortorder' => '12744', 'image' => '20210128070713_IMG_2102.JPG', 'article_date' => '2021-01-28 19:06:36', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => false, 'user_id' => '34' ) ), (int) 1 => array( 'Article' => array( 'id' => '12996', 'article_category_id' => '1', 'title' => 'Nepal’s Perceived Level of Corruption Increases ', 'sub_title' => 'Fall in the score to 33 also plunges Nepal’s global ranking to 117th position ', 'summary' => 'January 28: Nepal’s score at the Corruption Perceptions Index (CPI) has further slipped to 33 in 2020 from 34 in 2019, indicating that the perceived levels of public sector corruption in the country has increased in last one year. ', 'content' => '<p><span style="font-size:18px"><span style="font-family:Calibri">January 28: Nepal’s score at the Corruption Perceptions Index (CPI) has further slipped to 33 in 2020 from 34 in 2019, indicating that the perceived levels of public sector corruption in the country has increased in last one year. </span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri">The fall in the score also plunged Nepal into 117<sup>th</sup> position in the global ranking in 2020’s index from 113<sup>th</sup> in 2019 out of 180 countries and territories included in the research by Transparency International. </span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri">Transparency International uses a scale of 0 to 100 to measure the perceived levels of public sector corruption in the countries and territories included in the index where 0 is regarded as highly corrupt and 100 is very clean.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri">The deterioration of both score and ranking of Nepal indicates that the country’s corruption has become more prevalent and authorities failed to tackle the tackle the grafts, according to good governance experts. </span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri">Though the drop in the score or ranking does not necessarily mean the corruption has increased in Nepal, it reflects the perception of levels of public sector corruption among experts and businesspeople. </span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri">Transparency International, however, put Nepal in a list of significant improver in Asia Pacific based on the country’s progress in last 10 years. According to the CPI, Nepal’s score rose to 6 from the CPI 2012. </span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri">According to Transparency International, more than two-thirds of countries score below 50 on this year’s CPI, with an average score of just 43. </span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri">As in the past, Denmark and New Zealand stood in the top of the CPI with 88 score while South Sudan and Somalia with scores of 12 each remained in the bottom. </span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri">In Asia, key economies such as India (40), Indonesia (37) and Bangladesh (26) experienced slow progress in anti-corruption efforts, with several government commitments to reform not yet materialising effectively, according to Transparency International. </span></span></p> <p> </p> <p> </p> <p> </p> ', 'published' => true, 'created' => '2021-01-28', 'modified' => '2021-01-28', 'keywords' => '', 'description' => '', 'sortorder' => '12743', 'image' => '20210128035011_11579841541.jpg', 'article_date' => '2021-01-28 15:49:10', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 2 => array( 'Article' => array( 'id' => '12995', 'article_category_id' => '1', 'title' => 'Job Loss due to Covid-19 Four Times more than Global Financial Crisis of 2008: ILO ', 'sub_title' => '', 'summary' => 'January 28: The latest analysis of the International Labour Organization (ILO), on the impact of COVID-19 on the labour market shows massive damage to working time and income. ', 'content' => '<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt">January 28: The latest analysis of the International Labour Organization (ILO), on the impact of COVID-19 on the labour market shows massive damage to working time and income. </span></span></span></p> <p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt">"Prospects for recovery in 2021 are slow, uneven and uncertain and needs early improvements supported by human-centred recovery policies," the seventh edition of the ILO Monitor: COVID-19 and the world of work estimates.</span></span></span></p> <p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt">The unprecedented disruption in 2020 due to the COVID-19 pandemic has led to greater job loss, four times greater than that during the global financial crisis over a decade ago.</span></span></span></p> <p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt">New annual estimates in the seventh edition of the ILO Monitor: COVID-19 and the world of work confirm the massive impact that labour markets suffered last year. The latest figures show that 8.8 percent of global working hours were lost for the whole of 2020 (relative to the fourth quarter of 2019), equivalent to 255 million full-time jobs or approximately quadruple the jobs lost during the 2009 global financial crisis.</span></span></span></p> <p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt">These lost working hours are accounted for either by reduced working hours for those in employment or “unprecedented” levels of employment loss, hitting 114 million people. Significantly, 71 percent of these employment losses (81 million people) came in the form of inactivity, rather than unemployment, meaning that people left the labour market because they were unable to work, perhaps because of pandemic restrictions, or simply ceased to look for work. Looking at unemployment alone drastically understates the impact of COVID-19 on the labour market.</span></span></span></p> <p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt">These massive losses resulted in an 8.3 per cent decline in global labour income, equivalent to USD 3.7 trillion or 4.4 per cent of global Gross Domestic Product (GDP).</span></span></span></p> <p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt">Women have been more affected than men due to labour market disruptions led by the pandemic. Globally, employment losses for women stand at 5 per cent, versus 3.9 per cent for men. In particular, women were much more likely than men to drop out of the labour market and become inactive.</span></span></span></p> <p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt">Younger workers have also been particularly hard hit, either losing jobs, dropping out of the labour force or delaying entry into it. The employment loss among youth (15-24 years old) stood at 8.7 per cent, compared to 3.7 per cent for adults.</span></span></span></p> <p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt">The report shows the uneven impact on different economic, geographic, and labour market sectors. It highlights concerns of a “K-shaped recovery”, whereby those sectors and workers hit hardest could be left behind in the recovery, leading to increasing inequality, unless corrective measures are taken.</span></span></span></p> <p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt">The worst affected sector has been accommodation and food services, where employment declined by more than 20 per cent, on average, followed by retail and manufacturing. In contrast, employment in information and communication, and finance and insurance, increased in the second and third quarters of 2020. However, mining, quarrying and utilities, witnessed a marginal growth.</span></span></span></p> <p> </p> ', 'published' => true, 'created' => '2021-01-28', 'modified' => '2021-01-28', 'keywords' => '', 'description' => '', 'sortorder' => '12742', 'image' => '20210128015934_maxresdefault.jpg', 'article_date' => '2021-01-28 13:58:32', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 3 => array( 'Article' => array( 'id' => '12994', 'article_category_id' => '1', 'title' => 'Government’s Plan to Export Citrus Fruits to China Suffers a Blow', 'sub_title' => '', 'summary' => 'January 28: The government’s plan to export citrus fruits to China has suffered a setback after the northern neighbor denied permission for such deal. ', 'content' => '<p><span style="font-size:12pt"><span style="font-family:"Times New Roman""><span style="font-size:14.0pt"><span style="font-family:"Arial Unicode MS"">January 28: The government’s plan to export citrus fruits to China has suffered a setback after the northern neighbor denied permission for such deal. </span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman""><span style="font-size:14.0pt"><span style="font-family:"Arial Unicode MS"">During Chinese President Xi Jinping’s state visit to Nepal last year, the Ministry of Agriculture and Livestock Development had signed an agreement with China’s Agriculture Department to export citrus fruits to the northern neighbour.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman""><span style="font-size:14.0pt"><span style="font-family:"Arial Unicode MS"">The Chinese government has delayed implementation of the agreement as a precautionary measure against coronavirus after the emergence of a new strain of coronavirus in China and many other countries.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman""><span style="font-size:14.0pt"><span style="font-family:"Arial Unicode MS"">The Ministry of Agriculture and Livestock Development had earlier claimed that it would start exporting citrus fruits to China from late January this year. However, China sent a letter to the government stating that it would not be able to import citrus fruits from Nepal this year citing security reasons at a time when the Government of Nepal had completed the preparation to export such fruits to China. Spokesperson at the ministry Dr Shree Ram Ghimire confirmed that China delayed implementation of the agreement citing security risk.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman""><span style="font-size:14.0pt"><span style="font-family:"Arial Unicode MS"">“We had completed all the preparations for exporting citrus fruits to China but the plan could not materialize due to China’s stance. We are hopeful that the fruits will be exported during next season,” said Dr Ghimire.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman""><span style="font-size:14.0pt"><span style="font-family:"Arial Unicode MS"">The farmers have now started selling the fruits in the domestic market.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman""><span style="font-size:14.0pt"><span style="font-family:"Arial Unicode MS"">Citrus fruits are mostly produced in hill districts of Ramechhap, Sindhuli, Doti, Dadheldhura, Baitadi, Okhaldhunga, Lamjung, Dhankuta, Palpa, Taplejung among others.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman""><span style="font-size:14.0pt"><span style="font-family:"Arial Unicode MS"">According to government data, Nepal produces 177,000 metric tons of oranges, 39,000 metric tons of lemon and 43,000 metric tons of mandarin oranges annually.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman""><span style="font-size:14.0pt"><span style="font-family:"Arial Unicode MS"">Citrus fruits are cultivated in 56 districts of Nepal, but only 44 districts have started commercial farming.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman""><span style="font-size:14.0pt"><span style="font-family:"Arial Unicode MS"">Oranges produced in the country make up for 80 percent of the market demand while the remaining 20 percent is imported from foreign countries, according to the government data.</span></span></span></span></p> <p><img alt="" src="/app/webroot/userfiles/images/20201231121240_20190220125347_aaa.jpg" style="height:600px; width:800px" /></p> <p> </p> ', 'published' => true, 'created' => '2021-01-28', 'modified' => '2021-01-28', 'keywords' => '', 'description' => '', 'sortorder' => '12741', 'image' => '20210128102937_1611791192.Clipboard13.jpg', 'article_date' => '2021-01-28 10:28:44', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 4 => array( 'Article' => array( 'id' => '12993', 'article_category_id' => '1', 'title' => 'WFP Chief Warns of Vulnerable Supply Chains', 'sub_title' => '', 'summary' => 'January 28: Chief of the World Food Program (WFP) has reportedly said that the COVID-19 pandemic has highlighted the need to strengthen vulnerable supply chains to impoverished nations struggling to feed their populations.', 'content' => '<p><span style="font-size:12pt"><span style="font-family:"Times New Roman""><span style="font-size:16.5pt"><span style="font-family:Helvetica">January 28: Chief of the World Food Program (WFP) has reportedly said that the COVID-19 pandemic has highlighted the need to strengthen vulnerable supply chains to impoverished nations struggling to feed their populations.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman""><span style="font-size:16.5pt"><span style="font-family:Helvetica">According to the Associated Press (AP), David Beasley, executive director of the United Nations' Nobel Peace Prize-winning food program, said that the pandemic put further stress on supply chains getting food to the hungry.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman""><span style="font-size:16.5pt"><span style="font-family:Helvetica">“We’ve got to continue to work the system, we've got to make certain that we are ... less vulnerable to COVID type impacts,” AP quoted Beasley as saying in a virtual panel of the World Economic Forum.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman""><span style="font-size:16.5pt"><span style="font-family:Helvetica">“If you think you’ve had trouble getting toilet paper in New York, because of supply chain disruption, what do you think’s happening in Chad and Niger and Mali and places like that?”</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman""><span style="font-size:16.5pt"><span style="font-family:Helvetica">Beasley stressed that the food supply system is “not broken” but that 10 percent of the global population is in extreme poverty and need to be reached by suppliers and that the global pandemic exacerbated existing problems, AP reported.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman""><span style="font-size:16.5pt"><span style="font-family:Helvetica">He said that “with 270 million people on the brink of starvation, if we don’t receive the support and the funds that we need, you will have mass famine, starvation, you’ll have destabilization of nations and you’ll have mass migration. And the cost of that is a thousand times more.”</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman""><span style="font-size:16.5pt"><span style="font-family:Helvetica">Dutch Prime Minister Mark Rutte, whose country is a center for agricultural innovation and a major exporter of farm produce, announced that his country would host a global coordination center for regional “food innovation hubs” established by the World Economic Forum to help tackle what he called “food system challenges.”</span></span></span></span></p> <p> </p> ', 'published' => true, 'created' => '2021-01-28', 'modified' => '2021-01-28', 'keywords' => '', 'description' => '', 'sortorder' => '12740', 'image' => '20210128095846_55222278_403.jpg', 'article_date' => '2021-01-28 09:57:27', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 5 => array( 'Article' => array( 'id' => '12992', 'article_category_id' => '1', 'title' => 'Technical Report on National Payment Switch in Final Phase', 'sub_title' => '', 'summary' => 'January 27: The technical aspect of setting up Nepal’s national payment switch to ensure safe and cost-effective electronic transactions is in the final phase of approval. ', 'content' => '<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:"Arial Unicode MS"">January 27: The technical aspect of setting up Nepal’s national payment switch to ensure safe and cost-effective electronic transactions is in the final phase of approval. </span></span></span></span></p> <p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:"Arial Unicode MS"">Nepal Clearing House Limited (NCHL), which has been authorised by Nepal Rastra Bank (NRB) to prepare the switch, informed New Business Age that its technical report has been almost finalized.</span></span></span></span></p> <p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:"Arial Unicode MS"">NCHL Chairman Naresh Shakya said that the report will be presented to the Payments System Department of NRB in two to three days after internal discussion. </span></span></span></span></p> <p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:"Arial Unicode MS"">According to Shakya, all the electronic payment systems prevalent in the market including IPS, ConnectIPS, QR Code, debit and credit cards among others will be integrated in the national switch.</span></span></span></span></p> <p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:"Arial Unicode MS"">Shakya said that the technical report will be submitted to the central bank after a board meeting of the NCHL. The company is preparing to hire additional technical staff to complete the work.</span></span></span></span></p> <p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:"Arial Unicode MS"">Shakya informed that NCHL will only look after the technical aspect of the national payment switch while the legal issues, regulation and business aspects will be dealt with by the central bank.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:Cambria"><span style="font-size:14.0pt"><span style="font-family:"Arial Unicode MS"">Banks and financial institutions (BFIs) have been paying hefty price for digital transaction through international payment gateway like Visa and MasterCard due to lack of Nepal’s own payment gateway. The switch is crucial for connecting all the institutions involved in electronic transaction.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:Cambria"><span style="font-size:14.0pt"><span style="font-family:"Arial Unicode MS"">Currently, banks have been relying on international switch for the payment through debit and credit cards as well as for the use of ATMs. Some banks have made their own switch for this purpose.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:Cambria"><span style="font-size:14.0pt"><span style="font-family:"Arial Unicode MS"">Nepal Rastra Bank has been paying Rs 12 per transaction to the operators of foreign switch, according to NRB Spokesperson Gunakar Bhatta.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:Cambria"> </span></span></p> <p> </p> ', 'published' => true, 'created' => '2021-01-27', 'modified' => '2021-01-27', 'keywords' => '', 'description' => '', 'sortorder' => '12739', 'image' => '20210127064317_1611704925.Clipboard14.jpg', 'article_date' => '2021-01-27 18:42:43', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 6 => array( 'Article' => array( 'id' => '12991', 'article_category_id' => '1', 'title' => 'Government signs MoU with Singapore-based Company for Study of Biggest Solar Project in Nepal', 'sub_title' => '', 'summary' => 'January 27: The Government of Nepal, Investment Board and Risen Energy Singapore JV Pte Ltd have signed a Memorandum of Understanding (MoU) to prepare a Detailed Feasibility Study Report (DFSR) for establishing a 2500-megawatt Grid Connected Solar Energy Project with a battery storage plant of 40 MW capacity in Nepal.', 'content' => '<p><span style="font-size:11pt"><span style="font-family:Calibri"><span style="font-size:12.0pt"><span style="font-family:"Arial Unicode MS"">January 27: The Government of Nepal, Investment Board and Risen Energy Singapore JV Pte Ltd have signed a Memorandum of Understanding (MoU) to prepare a Detailed Feasibility Study Report (DFSR) for establishing a 250-megawatt Grid-Connected Solar Energy Project with a battery storage plant of 40 MW capacity in Nepal.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri"><span style="font-size:12.0pt"><span style="font-family:"Arial Unicode MS"">As per the MoU, Risen Energy will conduct a study on setting up one solar energy project of 125 megawatt capacity each in Kohalpur of Banke and Banganga of Kapilbastu along with two battery storage plants of 20 MW capacity each.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri"><span style="font-size:12.0pt"><span style="font-family:"Arial Unicode MS"">The estimated cost of the project is USD 189.5 million, according to Joint Secretary Ramesh Adhikari.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri"><span style="font-size:12.0pt"><span style="font-family:"Arial Unicode MS"">CEO of the Investment Board Sushil Bhatta and Development Manager of the Singapore-based company Wang Qiang signed the MoU amid a function at the board’s office on Tuesday, January 26.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri"><span style="font-size:12.0pt"><span style="font-family:"Arial Unicode MS"">Risen Energy will have to submit the DFSR to the board within 12 months of receiving survey license.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri"><span style="font-size:12.0pt"><span style="font-family:"Arial Unicode MS"">The proposed project is the biggest solar energy project in the country.</span></span></span></span></p> <p> </p> <p> </p> <p> </p> <p> </p> <p> </p> <p> </p> ', 'published' => true, 'created' => '2021-01-27', 'modified' => '2021-01-27', 'keywords' => '', 'description' => '', 'sortorder' => '12738', 'image' => '20210127053003_Risen MoU Photo.jpg', 'article_date' => '2021-01-27 17:28:51', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 7 => array( 'Article' => array( 'id' => '12990', 'article_category_id' => '1', 'title' => 'Government, World Bank Launch $150 million Urban Governance and Infrastructure Project ', 'sub_title' => '', 'summary' => 'January 27: Representatives of the Government of Nepal and the World Bank jointly launched the Nepal Urban Governance and Infrastructure Project on Wednesday, January 27. ', 'content' => '<p><span style="font-size:12pt"><span style="font-family:Cambria"><span style="font-size:14.0pt"><span style="font-family:Arial">January 27: Representatives of the Government of Nepal and the World Bank jointly launched the Nepal Urban Governance and Infrastructure Project on Wednesday, January 27. </span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:Cambria"><span style="font-size:14.0pt"><span style="font-family:Arial">According to the World Bank, secretary at the </span></span><span style="font-size:14.0pt"><span style="font-family:Arial">Ministry of Urban Development, Dr Ramesh Prasad Singh, and Lada Strelkova, World Bank Operations Manager for the Maldives, Nepal, and Sri Lanka, inaugurated the project.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:Cambria"><span style="font-size:14.0pt"><span style="font-family:Arial"> The World Bank said in a statement that the four-year project is financed by the bank to promote sustainable urban development and to support post-COVID-19 economic recovery in strategic secondary cities. </span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:Cambria"><span style="font-size:14.0pt"><span style="font-family:Arial">Aligned with Nepal’s federalism principles and the National Urban Development Strategy, the $150 million project puts the municipalities at the forefront of project implementation with a focus on strengthening service delivery and institutional capacities in strategic secondary cities and supporting post-COVID-19 economic recovery through labor intensive public works, the statement added. </span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:Cambria"><span style="font-size:14.0pt"><span style="font-family:Arial">“In the context of rapid urbanization, federalism, and the pandemic, delivering better urban services and responding to the needs of the population are critical. Given the urgent needs, result-oriented implementation of the project is required at all levels of government,” the statement quoted Secretary Singh as saying.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:Cambria"><span style="font-size:14.0pt"><span style="font-family:Arial">“The project complements the Government of Nepal’s existing programs and deepens the engagement on urban development through the establishment of dedicated funding for strategic urban infrastructure in the targeted cities,” he added. </span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:Cambria"><span style="font-size:14.0pt"><span style="font-family:Arial">The 17 project municipalities are located in two strategic urban clusters in the eastern region (Provinces 1 and 2) and western region (Gandaki and Lumbini provinces). The selected municipalities are critical to Nepal's economic development and are the centres for commercial and administrative activities in those regions, stated World Bank.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:Cambria"><span style="font-size:14.0pt"><span style="font-family:Arial">According to the World Bank, the project will also support 12 additional municipalities across Nepal’s seven provinces for labor-intensive public works activities, as well as supporting four municipalities for capacity building</span></span><span style="font-size:14.0pt"><span style="font-family:Arial">. Of the total credit, about 95 percent is allocated to the local levels.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:Cambria"><span style="font-size:14.0pt"><span style="font-family:Arial"> “As part of the World Bank’s COVID-19 response, the project will support over 20,000 of the most vulnerable and unemployed people at the local level to earn at least 50 days of wages through the creation of temporary employment opportunities in the maintenance and upgrading of public infrastructure,” stated Faris Hadad-Zervos, World Bank’s country director for the Maldives, Nepal, and Sri Lanka. “Working together with the government, development partners, and the private sector, the World Bank will aim to deliver results to strengthen federalism and capacity of the targeted municipalities to the benefit of the local population.”</span></span></span></span></p> <p> </p> ', 'published' => true, 'created' => '2021-01-27', 'modified' => '2021-01-27', 'keywords' => '', 'description' => '', 'sortorder' => '12737', 'image' => '20210127031530_world-bank.jpg', 'article_date' => '2021-01-27 15:13:41', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 8 => array( 'Article' => array( 'id' => '12989', 'article_category_id' => '1', 'title' => 'COVID-19 Budget Misappropriated in Staff Allowance and Internal Management ', 'sub_title' => '', 'summary' => 'January 27: There are growing public complaints that the local levels of Okhaldhunga district have embezzled COVID-19 management funds. ', 'content' => '<p><span style="font-size:11pt"><span style="font-family:Cambria"><span style="font-family:"Arial Unicode MS"">January 27: There are growing public complaints that the local levels of Okhaldhunga district have embezzled COVID-19 management funds. </span><br /> <span style="font-family:"Arial Unicode MS"">The local levels, which had set up separate funds for the prevention and control of global pandemic of coronavirus, have spent the public money in internal management and staff allowance rather than in the concrete measures against coronavirus. </span><br /> <span style="font-family:"Arial Unicode MS"">Some 71 staffers of Manebhanjyang rural municipality have received allowance amounting to Rs 1.58 million for their service during COVID-19 time. Manebhanjyang rural municipality which spent over Rs 3.85 million on coronavirus prevention had mobilized Rs 291,850 in canteen construction and Rs 478,876 in the procurement of medical appliances. </span><br /> <span style="font-family:"Arial Unicode MS"">Likewise, Khijidemba rural municipality has spent a budget of Rs 9 million in the early four months period of CoVID-19. It had spent over Rs 8.94 million in the heading of coronavirus prevention. Likewise, the rural municipality has channelized Rs 1.13 million to provide risk allowance to 350 employees. </span><br /> <span style="font-family:"Arial Unicode MS"">All the health workers and some employees mobilized in the rural municipality were provided with 50-100 percent allowance for their engagement in risk management. </span><br /> <span style="font-family:"Arial Unicode MS"">As disclosed the rural municipality has also spent Rs 92,892 on the heading of meeting meal and allowances to the attendees of local coordination committee for the control and prevention of COVID-19. </span><br /> <span style="font-family:"Arial Unicode MS"">Despite having people's representatives, employees, health workers and volunteers, the rual municipality is also found to have spent Rs 753,131 in the heading of remuneration to information facilitator. </span><br /> <span style="font-family:"Arial Unicode MS"">Some 18 information facilitators were mobilized for two months in the rural municipality. </span><br /> <span style="font-family:"Arial Unicode MS"">The facilitators were mobilized to identify the status of stranded citizens, collect details of the people with chronic disease in wards and plan the relief distribution, shared chief administrative officer of the rural municipality, Subash Poudel. </span><br /> <span style="font-family:"Arial Unicode MS"">These are only the representative cases of financial embezzlement taking place in the rural municipalities of Okhaldhunga during the time of COVID-19. Other local levels of the district are also found to have been engaged in siphoning off the public money. -- RSS </span></span></span></p> ', 'published' => true, 'created' => '2021-01-27', 'modified' => '2021-01-27', 'keywords' => '', 'description' => '', 'sortorder' => '12736', 'image' => '20210127115028_20200316-1-Coronavirus-update 2.jpg', 'article_date' => '2021-01-27 11:49:56', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 9 => array( 'Article' => array( 'id' => '12987', 'article_category_id' => '1', 'title' => '13 Local Bodies Fail to Present Budget Even after Six Months into Current FY', 'sub_title' => 'Spending without budget approval raises concerns over fiscal indiscipline in federalism', 'summary' => 'January 26: Over a dozen local governments have not presented their budget for the current fiscal year even after the end of first half of 2020-21, raising concerns over fiscal indiscipline at local levels.', 'content' => '<h1><span style="font-size:18px">SAGAR GHIMIRE</span></h1> <h1><span style="font-size:11pt"><span style="font-family:Calibri"><span style="font-size:14.0pt">January 27: Over a dozen local governments have not presented their budget for the current fiscal year even after the end of first half of 2020-21, raising concerns over fiscal indiscipline at local levels.</span></span></span></h1> <p><span style="font-size:11pt"><span style="font-family:Calibri"><span style="font-size:14.0pt">A total of 13 local governments are yet to present their annual budget. All of them are from Province 2, according to the Ministry of Federal Affairs and General Administration (MoFAGA). </span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri"><span style="font-size:14.0pt">The delay in presenting the budget and getting it approved from the respective assembly not only goes against the provisions of the Intergovernmental Fiscal Arrangement Act and the Local Government Operation Act, but raises concerns over the breach of fiscal discipline by subnational governments.</span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri"><span style="font-size:14.0pt">Local levels that include rural municipals, municipalities, sub-metropolis and metropolis are required to present their budget (estimate of revenue and expenditure) for the upcoming fiscal year by Asadh 10 (10<sup>th</sup>day of the Nepali calendar month of Asadh, which generally falls in the last week of June). </span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri"><span style="font-size:14.0pt">Excluding the expenses (not exceeding two-thirds of the expenditureof the current fiscal year) incurred when an appropriation bill is under consideration, local governments cannot make any expenditure without approval of the budget presented in their assemblies. </span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri"><span style="font-size:14.0pt">Elected representatives at local levels who fail to present the budget on time point out political disputes hampering the budget formulation process.</span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri"><span style="font-size:14.0pt">Mithila Bihari Municipality is one such local level which had struggled to convene its Municipal Assembly to get its budget for the current fiscal year 2020-21 approvedwithin the deadline of Asadh 10 (June 24 last year). After months of political bickering, the municipality finally held its assembly nearly two and a half months later.</span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri"><span style="font-size:14.0pt">“The political disputes in our municipality delayed the process. As some members of another political party were bent on stopping the Assembly from congregating to prove that I have failed, we could not convene the Assembly on time,” said Anil Kumar Yadav, mayor of Mithila Bihari Municipality. “However, after weeks of negotiations with those trying to disrupt the Assembly, we finally succeeded in convening the Assembly and getting the budget approved after two and a half months,” he added.</span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri"><span style="font-size:14.0pt">Dhanauji Rural Municipality in Province 2 faces the similar fate. Political wrangling among the elected representatives is blamed for the failure to convene the village assembly which approves the budget. </span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri"><span style="font-size:14.0pt">“Wards should formulate and send their plans that need to be included in the budget. However, there are disputes in some of the wards among elected representatives,” said Ramwati Devi Mandal, deputy chairperson of Dhanauji Rural Municipality. </span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri"><span style="font-size:14.0pt">“We also have not been able to forge consensus in the village executive to call the village assembly as there are elected representatives from various political parties,” she added. </span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri"><span style="font-size:14.0pt">Political dispute is not the only reason that has prevented local levels from holding their assemblies or getting the budget endorsed on time. Covid-19, corruption and lack of administrative capacity are also other factors that have hit the process of budget formulation and presentation, senior MoFAGA officials said.</span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri"><span style="font-size:14.0pt">They also say that there is little they can do to pressurise subnational governments for timely approval of budget or rein in spending that is not duly approved from their respective assemblies. </span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri"><span style="font-size:14.0pt">“We are practicing a federal system where provincial and local governments are as powerful as the central government. So, we cannot intervene from the federal level and tell them what to do and what not to do. Our effort is limited to following-up on where the process of convening the assembly has reached,” said a senior official at the MoFAGA, requesting anonymity as he is not authorised to talk to media. </span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri"><span style="font-size:14.0pt">However, the central government has warned that it would suspend disbursement of grants, like complementary and special grants, to subnational governments that are yet to pass their budget. </span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri"><span style="font-size:14.0pt">According to the senior official, the ministry is now also mulling over a possibility of freezing bank accounts of the local government that fails to get its budget approved by its assembly. </span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri"><span style="font-size:14.0pt">Fiscal experts say that spending taxpayers' money without the elected assembly’s endorsement amounts to irregularity. “Whatever justifications are made, it is a disregard for the accountability and transparency,” said Khim Lal Devkota, a fiscal federalization analyst. </span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri"><span style="font-size:14.0pt">He said that the central government should stop providing financial grants to those local governments until they get their budgetsapproved from their assemblies. </span></span></span></p> <p> </p> ', 'published' => true, 'created' => '2021-01-27', 'modified' => '2021-01-27', 'keywords' => '', 'description' => '', 'sortorder' => '12735', 'image' => '20210127091328_My Effect.jpg', 'article_date' => '2021-01-27 09:09:53', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => false, 'user_id' => '34' ) ), (int) 10 => array( 'Article' => array( 'id' => '12988', 'article_category_id' => '1', 'title' => 'CNI Demands Increase in Number of Customs Agents', 'sub_title' => '', 'summary' => 'January 27: Stating that improvement and modernization of customs services and infrastructure has been intensified, the Department of Customs has said it is ready for further facilitation in import and export of goods.', 'content' => '<p><span style="font-size:12pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:Arial">January 27: Stating that improvement and modernization of customs services and infrastructure has been intensified, the Department of Customs has said it is ready for further facilitation in import and export of goods.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:Arial">In a recent interaction organized by the Confederation of Nepalese Industries (CNI), Director General of the Department of Customs Suman Dahal informed that the one-door policy is now being implemented. He added that technology-based assessment and monitoring system is being adopted while the department will soon initiate the process for digital payment. </span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:Arial">Necessary preparations have been made to increase the number of customs agents, informed Director General Dahal. Stating that cooperation and coordination is needed for the improvement of customs infrastructure and integrated check posts, Director General Dahal requested the Confederation for assistance. </span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:Arial">CNI's acting Chairman Bishnu Kumar Agrawal urged the concerned authorities to expedite the process of customs infrastructure development while also demanding for the quick transition into digital platform.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:Arial">Agrawal also drew the attention of the department that the number of customs agents has not been increased since the last 25 years and therefore urged the department to issue new license to the agents.</span></span></span></span></p> <p> </p> ', 'published' => true, 'created' => '2021-01-27', 'modified' => '2021-01-27', 'keywords' => '', 'description' => '', 'sortorder' => '12734', 'image' => '20210127105631_Picture-1.jpeg', 'article_date' => '2021-01-27 10:55:53', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 11 => array( 'Article' => array( 'id' => '12986', 'article_category_id' => '1', 'title' => 'Farmers to Start Protest in the Capital from January 27', 'sub_title' => '', 'summary' => 'January 26: Farmers and other stakeholders have decided to start protest from January 27 against the government’s decision to allow foreign investment in agriculture sector of Nepal. ', 'content' => '<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:"Arial Unicode MS"">January 26: Farmers and other stakeholders have decided to start protest from January 27 against the government’s decision to allow foreign investment in agriculture sector of Nepal. They have accused the government of trying to sideline the domestic agro-industries by opening foreign investment in this sector.</span></span></span></span></p> <p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:"Arial Unicode MS"">Farmers, entrepreneurs involved in agriculture as well as small scale industries and 16 different organisations will be staging the protests in the capital starting from January 27.</span></span></span></span></p> <p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:"Arial Unicode MS"">A struggle committee has been formed under the coordination of Shivaram KC, chairman of Nepal Egg Producers Association.</span></span></span></span></p> <p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:"Arial Unicode MS"">The Federation of National Farmers Group, Central Livestock Cooperative Association, Dairy Industries’ Association, Nepal Dairy Association, Nepal Fishery Entrepreneurs’ Federation, Nepal Egg Producers Association, Nepal Poultry Farmers Association among others have decided to hold joint protest against the government’s decision. </span></span></span></span></p> <p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:"Arial Unicode MS"">The struggle committee has been creating awareness among farmers and entrepreneurs in the district level at the moment. After completing its awareness drive on January 26, the committee will shift its focus on Kathmandu-centric protests.</span></span></span></span></p> <p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:"Arial Unicode MS"">KC said that they initiated the protest programme to exert pressure on the government to take back its decision.</span></span></span></span></p> <p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:"Arial Unicode MS"">“Most of the agriculture businesses have just become self reliant while others are still struggling to stand on their own. Therefore, foreign investment in this sector should not be encouraged,” said KC.</span></span></span></span></p> <p> </p> ', 'published' => true, 'created' => '2021-01-26', 'modified' => '2021-01-26', 'keywords' => '', 'description' => '', 'sortorder' => '12733', 'image' => '20210126064057_20210106123441_20201105020829_cover.jpg', 'article_date' => '2021-01-26 18:40:25', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 12 => array( 'Article' => array( 'id' => '12985', 'article_category_id' => '1', 'title' => 'NTA to Test Internet Quality ', 'sub_title' => '', 'summary' => 'January 26: Nepal Telecommunications Authority (NTA) has decided to test the quality of internet and mobile phone across the country at the same time. ', 'content' => '<p><span style="font-size:11pt"><span style="font-family:Cambria"><span style="font-family:"Arial Unicode MS"">January 26: Nepal Telecommunications Authority (NTA) has decided to test the quality of internet and mobile phone across the country at the same time. </span><br /> <span style="font-family:"Arial Unicode MS"">Six companies have been shortlisted for the first round to test the quality of telecommunications service. NTA had released a tender notice seeking companies to test voice, data and internet quality last August. </span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Cambria"><span style="font-family:"Arial Unicode MS"">According to NTA Spokesperson Min Prasad Aryal, the selected companies are Mahakali-Mechi Technology and Suppliers, Professional Business Network, Jayabageshwori Construction and Suppliers on behalf of Smart Management and Research, Jaljala Builders and Infrastructures as E-Coil Pvt, Exclusive Everest Microtech JV and Intelco Solution. </span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Cambria"><span style="font-family:"Arial Unicode MS"">NTA will now seek the financial and technical proposals from the shortlisted companies for the next round. Based on their proposals, the best one will be picked, Aryal added. </span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Cambria"><span style="font-family:"Arial Unicode MS"">The NTA has already allocated Rs 6 million for this purpose.- RSS</span></span></span></p> ', 'published' => true, 'created' => '2021-01-26', 'modified' => '2021-01-26', 'keywords' => '', 'description' => '', 'sortorder' => '12732', 'image' => '20210126062610_20200326081545_NTC-launches-4G-in-Rara-Lake.jpg', 'article_date' => '2021-01-26 18:24:58', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 13 => array( 'Article' => array( 'id' => '12984', 'article_category_id' => '1', 'title' => 'Non-Life Insurance Companies Report a Slump in Business', 'sub_title' => '', 'summary' => 'January 26: Business expansion of non-life insurance companies in Nepal is extremely low compared to life insurance companies.', 'content' => '<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:"Arial Unicode MS"">January 26: Business expansion of non-life insurance companies in Nepal is extremely low compared to life insurance companies. Life insurance companies made brisk business even amid the coronavirus pandemic in the current fiscal year. However, non-life insurance companies could not match the pace of life insurance companies in business expansion.</span></span></span></span></p> <p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:"Arial Unicode MS"">In the first six months of the current fiscal year, the business of life insurance companies expanded by 32.12 percent whereas the business of non-life insurance companies grew by only 9.90 percent. The business of non-life insurance companies had expanded by 15 percent during the corresponding period of last fiscal year.</span></span></span></span></p> <p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:"Arial Unicode MS"">Currently, there are 20 non-life insurance companies in Nepal. Among them, 19 companies collected insurance premium of Rs 15.20 billion during the review period. The government-owned National Insurance Company’s details have not been included in this report because the company did not submit its financial report. </span></span></span></span></p> <p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:"Arial Unicode MS"">Non-life insurance is directly linked with the banking sector. They have to insure all those sectors where Banks and Financial Institutions (BFIs) have made investment. For instance, it is mandatory to insure houses built by taking loan from banks. However, of late, banks have not stepped up their investment in sectors likely to fall under the scope of insurance. That has also resulted in a slump in business of non-life insurance companies.</span></span></span></span></p> <p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:"Arial Unicode MS"">The sale of new vehicles has also declined in recent days. As a result, non-life insurance companies have not been able to make good business, says Sunil Ballav Panta, CEO of NLG Insurance Company.</span></span></span></span></p> <p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:"Arial Unicode MS"">He says insurance business might have suffered a setback due to increase in investment in the share market.</span></span></span></span></p> <p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:"Arial Unicode MS"">“The business of non-life insurance companies has definitely shrunk. But we must consider it satisfactory amid the current financial crisis induced by Covid-19,” says Panta.</span></span></span></span></p> <p> </p> ', 'published' => true, 'created' => '2021-01-26', 'modified' => '2021-01-26', 'keywords' => '', 'description' => '', 'sortorder' => '12731', 'image' => '20210126035250_20200223013317_aaaa.jpg', 'article_date' => '2021-01-26 15:52:15', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 14 => array( 'Article' => array( 'id' => '12983', 'article_category_id' => '1', 'title' => 'Udaypur Cement Factory Resumes Regular Production', 'sub_title' => '', 'summary' => 'January 26: Udaypur Cement Factory has started regular production of cement. ', 'content' => '<p><span style="font-size:11pt"><span style="font-family:Calibri"><span style="font-size:12.0pt"><span style="font-family:"Times New Roman"">January 26: Udaypur Cement Factory has started regular production of cement in almost ten months. Production of cement had been obstructed due to coronavirus as well as lack of raw materials.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri"><span style="font-size:12.0pt"><span style="font-family:"Times New Roman"">The factory had halted most of the production as it was without a general manager during this period.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri"><span style="font-size:12.0pt"><span style="font-family:"Times New Roman"">Newly-appointed General Manager Gopi Krishna Neupane informed New Business Age that he has emphasized on regular production rather than increasing production capacity at the moment. </span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri"><span style="font-size:12.0pt"><span style="font-family:"Times New Roman"">“The cement production at the factory was zero before I took charge,” Neupane said, adding, “The process to resolve problems related to staff, management as well as remuneration has been initiated.” </span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri"><span style="font-size:12.0pt"><span style="font-family:"Times New Roman"">He said that the issue of wage has been managed for the time being using the factory’s internal funds at a time when the sales and income of the industry have declined. However, Neupane informed that electricity tariff and revenue of Rs 500 million will be paid after they start full-fledged production. </span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri"><span style="font-size:12.0pt"><span style="font-family:"Times New Roman"">Udaypur Cement Factory has started selling 8,000 bags of cement per day, including the stock. </span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri"><span style="font-size:12.0pt"><span style="font-family:"Times New Roman"">The factory, which started production on Sunday, will now produce 12,000 sacks or 600 tonnes of cement on a daily basis. The daily production capacity of the cement factory is 16,000 sacks or 800 tons. The price of cement is Rs 741 per sack. </span></span></span></span></p> <p> </p> <p> </p> ', 'published' => true, 'created' => '2021-01-26', 'modified' => '2021-01-26', 'keywords' => '', 'description' => '', 'sortorder' => '12730', 'image' => '20210126030008_1611619104.Clipboard11.jpg', 'article_date' => '2021-01-26 14:59:25', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => false, '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
Notice (8): Undefined variable: file [APP/View/Elements/side_bar.ctp, line 133]Code Context// $file = 'http://aabhiyan:QUVLg8Wzs2F7G9N7@nepalstock.com.np/api/subindexdata.xml';if(!$xml = simplexml_load_file($file)){$viewFile = '/var/www/html/newbusinessage.com/app/View/Elements/side_bar.ctp' $dataForView = array( 'articles' => array( (int) 0 => array( 'Article' => array( [maximum depth reached] ) ), (int) 1 => array( 'Article' => array( [maximum depth reached] ) ), (int) 2 => array( 'Article' => array( [maximum depth reached] ) ), (int) 3 => array( 'Article' => array( [maximum depth reached] ) ), (int) 4 => array( 'Article' => array( [maximum depth reached] ) ), (int) 5 => array( 'Article' => array( [maximum depth reached] ) ), (int) 6 => array( 'Article' => array( [maximum depth reached] ) ), (int) 7 => array( 'Article' => array( [maximum depth reached] ) ), (int) 8 => array( 'Article' => array( [maximum depth reached] ) ), (int) 9 => array( 'Article' => array( [maximum depth reached] ) ), (int) 10 => array( 'Article' => array( [maximum depth reached] ) ), (int) 11 => array( 'Article' => array( [maximum depth reached] ) ), (int) 12 => array( 'Article' => array( [maximum depth reached] ) ), (int) 13 => array( 'Article' => array( [maximum depth reached] ) ), (int) 14 => array( 'Article' => array( [maximum depth reached] ) ) ), 'current_user' => null, 'logged_in' => false ) $articles = array( (int) 0 => array( 'Article' => array( 'id' => '12997', 'article_category_id' => '1', 'title' => 'JICA Inaugurates Section of BP Highway Damaged by 2015 Earthquakes', 'sub_title' => '', 'summary' => 'January 28: Japan International Cooperation Agency (JICA) has announced the completion of the rehabilitation of a section of the BP Highway in Sindhuli. ', 'content' => '<p><span style="font-size:11pt"><span style="font-family:Cambria">January 28: Japan International Cooperation Agency (JICA) has announced the completion of the rehabilitation of a section of the BP Highway in Sindhuli. </span></span></p> <p><span style="font-size:11pt"><span style="font-family:Cambria">According to JICA, the Sindhuli road was damaged in more than 24 places by the catastrophic earthquake on 25 April 2015 as well as its major aftershock on 12 May 2015.</span></span></p> <p><span style="font-size:11pt"><span style="font-family:Cambria">The Japanese government provided grant assistance to rehabilitate five critically damaged portions of the Sindhuli Road following upon the request of the Government of Nepal.</span></span></p> <p><span style="font-size:11pt"><span style="font-family:Cambria">Following an Exchange of Note (E/N) between the two governments, JICA signed an agreement on 25<sup>th</sup> October 2018 with Nepal to provide grant assistance of 1,047 million Japanese Yen. </span></span></p> <p><span style="font-size:11pt"><span style="font-family:Cambria">Issuing a statement, JICA said that the rehabilitated road section was inaugurated in a virtual ceremony on Thursday (January 28).</span></span></p> <p><span style="font-size:11pt"><span style="font-family:Cambria">“Rehabilitation of the Sindhuli road will facilitate smooth traffic flow, which will not only result in having a reliable link between Kathmandu and the Eastern Terai but also cater to the need of the public by creating better mobility, easier accessibility to health facilities and education, better economic socio-cultural activities,” the statement added. </span></span></p> <p><span style="font-size:11pt"><span style="font-family:Cambria"> Furthermore, one of the major outcome of the rehabilitation project is the transfer of advanced and effective technology to the Nepalese counterparts and engineers, mainly for the slope stabilization of the mountainous roads, JICA further said.</span></span></p> <p><span style="font-size:11pt"><span style="font-family:Cambria">The Sindhuli Road is one of the most important roads in Nepal that links the capital, with Eastern Terai. According to JICA, the construction of the Sindhuli Road, with a total length of 160 km, started with Japanese grant in 1996 and was completed in March 2015.</span></span></p> ', 'published' => true, 'created' => '2021-01-28', 'modified' => '2021-01-28', 'keywords' => '', 'description' => '', 'sortorder' => '12744', 'image' => '20210128070713_IMG_2102.JPG', 'article_date' => '2021-01-28 19:06:36', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => false, 'user_id' => '34' ) ), (int) 1 => array( 'Article' => array( 'id' => '12996', 'article_category_id' => '1', 'title' => 'Nepal’s Perceived Level of Corruption Increases ', 'sub_title' => 'Fall in the score to 33 also plunges Nepal’s global ranking to 117th position ', 'summary' => 'January 28: Nepal’s score at the Corruption Perceptions Index (CPI) has further slipped to 33 in 2020 from 34 in 2019, indicating that the perceived levels of public sector corruption in the country has increased in last one year. ', 'content' => '<p><span style="font-size:18px"><span style="font-family:Calibri">January 28: Nepal’s score at the Corruption Perceptions Index (CPI) has further slipped to 33 in 2020 from 34 in 2019, indicating that the perceived levels of public sector corruption in the country has increased in last one year. </span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri">The fall in the score also plunged Nepal into 117<sup>th</sup> position in the global ranking in 2020’s index from 113<sup>th</sup> in 2019 out of 180 countries and territories included in the research by Transparency International. </span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri">Transparency International uses a scale of 0 to 100 to measure the perceived levels of public sector corruption in the countries and territories included in the index where 0 is regarded as highly corrupt and 100 is very clean.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri">The deterioration of both score and ranking of Nepal indicates that the country’s corruption has become more prevalent and authorities failed to tackle the tackle the grafts, according to good governance experts. </span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri">Though the drop in the score or ranking does not necessarily mean the corruption has increased in Nepal, it reflects the perception of levels of public sector corruption among experts and businesspeople. </span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri">Transparency International, however, put Nepal in a list of significant improver in Asia Pacific based on the country’s progress in last 10 years. According to the CPI, Nepal’s score rose to 6 from the CPI 2012. </span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri">According to Transparency International, more than two-thirds of countries score below 50 on this year’s CPI, with an average score of just 43. </span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri">As in the past, Denmark and New Zealand stood in the top of the CPI with 88 score while South Sudan and Somalia with scores of 12 each remained in the bottom. </span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri">In Asia, key economies such as India (40), Indonesia (37) and Bangladesh (26) experienced slow progress in anti-corruption efforts, with several government commitments to reform not yet materialising effectively, according to Transparency International. </span></span></p> <p> </p> <p> </p> <p> </p> ', 'published' => true, 'created' => '2021-01-28', 'modified' => '2021-01-28', 'keywords' => '', 'description' => '', 'sortorder' => '12743', 'image' => '20210128035011_11579841541.jpg', 'article_date' => '2021-01-28 15:49:10', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 2 => array( 'Article' => array( 'id' => '12995', 'article_category_id' => '1', 'title' => 'Job Loss due to Covid-19 Four Times more than Global Financial Crisis of 2008: ILO ', 'sub_title' => '', 'summary' => 'January 28: The latest analysis of the International Labour Organization (ILO), on the impact of COVID-19 on the labour market shows massive damage to working time and income. ', 'content' => '<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt">January 28: The latest analysis of the International Labour Organization (ILO), on the impact of COVID-19 on the labour market shows massive damage to working time and income. </span></span></span></p> <p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt">"Prospects for recovery in 2021 are slow, uneven and uncertain and needs early improvements supported by human-centred recovery policies," the seventh edition of the ILO Monitor: COVID-19 and the world of work estimates.</span></span></span></p> <p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt">The unprecedented disruption in 2020 due to the COVID-19 pandemic has led to greater job loss, four times greater than that during the global financial crisis over a decade ago.</span></span></span></p> <p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt">New annual estimates in the seventh edition of the ILO Monitor: COVID-19 and the world of work confirm the massive impact that labour markets suffered last year. The latest figures show that 8.8 percent of global working hours were lost for the whole of 2020 (relative to the fourth quarter of 2019), equivalent to 255 million full-time jobs or approximately quadruple the jobs lost during the 2009 global financial crisis.</span></span></span></p> <p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt">These lost working hours are accounted for either by reduced working hours for those in employment or “unprecedented” levels of employment loss, hitting 114 million people. Significantly, 71 percent of these employment losses (81 million people) came in the form of inactivity, rather than unemployment, meaning that people left the labour market because they were unable to work, perhaps because of pandemic restrictions, or simply ceased to look for work. Looking at unemployment alone drastically understates the impact of COVID-19 on the labour market.</span></span></span></p> <p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt">These massive losses resulted in an 8.3 per cent decline in global labour income, equivalent to USD 3.7 trillion or 4.4 per cent of global Gross Domestic Product (GDP).</span></span></span></p> <p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt">Women have been more affected than men due to labour market disruptions led by the pandemic. Globally, employment losses for women stand at 5 per cent, versus 3.9 per cent for men. In particular, women were much more likely than men to drop out of the labour market and become inactive.</span></span></span></p> <p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt">Younger workers have also been particularly hard hit, either losing jobs, dropping out of the labour force or delaying entry into it. The employment loss among youth (15-24 years old) stood at 8.7 per cent, compared to 3.7 per cent for adults.</span></span></span></p> <p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt">The report shows the uneven impact on different economic, geographic, and labour market sectors. It highlights concerns of a “K-shaped recovery”, whereby those sectors and workers hit hardest could be left behind in the recovery, leading to increasing inequality, unless corrective measures are taken.</span></span></span></p> <p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt">The worst affected sector has been accommodation and food services, where employment declined by more than 20 per cent, on average, followed by retail and manufacturing. In contrast, employment in information and communication, and finance and insurance, increased in the second and third quarters of 2020. However, mining, quarrying and utilities, witnessed a marginal growth.</span></span></span></p> <p> </p> ', 'published' => true, 'created' => '2021-01-28', 'modified' => '2021-01-28', 'keywords' => '', 'description' => '', 'sortorder' => '12742', 'image' => '20210128015934_maxresdefault.jpg', 'article_date' => '2021-01-28 13:58:32', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 3 => array( 'Article' => array( 'id' => '12994', 'article_category_id' => '1', 'title' => 'Government’s Plan to Export Citrus Fruits to China Suffers a Blow', 'sub_title' => '', 'summary' => 'January 28: The government’s plan to export citrus fruits to China has suffered a setback after the northern neighbor denied permission for such deal. ', 'content' => '<p><span style="font-size:12pt"><span style="font-family:"Times New Roman""><span style="font-size:14.0pt"><span style="font-family:"Arial Unicode MS"">January 28: The government’s plan to export citrus fruits to China has suffered a setback after the northern neighbor denied permission for such deal. </span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman""><span style="font-size:14.0pt"><span style="font-family:"Arial Unicode MS"">During Chinese President Xi Jinping’s state visit to Nepal last year, the Ministry of Agriculture and Livestock Development had signed an agreement with China’s Agriculture Department to export citrus fruits to the northern neighbour.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman""><span style="font-size:14.0pt"><span style="font-family:"Arial Unicode MS"">The Chinese government has delayed implementation of the agreement as a precautionary measure against coronavirus after the emergence of a new strain of coronavirus in China and many other countries.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman""><span style="font-size:14.0pt"><span style="font-family:"Arial Unicode MS"">The Ministry of Agriculture and Livestock Development had earlier claimed that it would start exporting citrus fruits to China from late January this year. However, China sent a letter to the government stating that it would not be able to import citrus fruits from Nepal this year citing security reasons at a time when the Government of Nepal had completed the preparation to export such fruits to China. Spokesperson at the ministry Dr Shree Ram Ghimire confirmed that China delayed implementation of the agreement citing security risk.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman""><span style="font-size:14.0pt"><span style="font-family:"Arial Unicode MS"">“We had completed all the preparations for exporting citrus fruits to China but the plan could not materialize due to China’s stance. We are hopeful that the fruits will be exported during next season,” said Dr Ghimire.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman""><span style="font-size:14.0pt"><span style="font-family:"Arial Unicode MS"">The farmers have now started selling the fruits in the domestic market.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman""><span style="font-size:14.0pt"><span style="font-family:"Arial Unicode MS"">Citrus fruits are mostly produced in hill districts of Ramechhap, Sindhuli, Doti, Dadheldhura, Baitadi, Okhaldhunga, Lamjung, Dhankuta, Palpa, Taplejung among others.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman""><span style="font-size:14.0pt"><span style="font-family:"Arial Unicode MS"">According to government data, Nepal produces 177,000 metric tons of oranges, 39,000 metric tons of lemon and 43,000 metric tons of mandarin oranges annually.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman""><span style="font-size:14.0pt"><span style="font-family:"Arial Unicode MS"">Citrus fruits are cultivated in 56 districts of Nepal, but only 44 districts have started commercial farming.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman""><span style="font-size:14.0pt"><span style="font-family:"Arial Unicode MS"">Oranges produced in the country make up for 80 percent of the market demand while the remaining 20 percent is imported from foreign countries, according to the government data.</span></span></span></span></p> <p><img alt="" src="/app/webroot/userfiles/images/20201231121240_20190220125347_aaa.jpg" style="height:600px; width:800px" /></p> <p> </p> ', 'published' => true, 'created' => '2021-01-28', 'modified' => '2021-01-28', 'keywords' => '', 'description' => '', 'sortorder' => '12741', 'image' => '20210128102937_1611791192.Clipboard13.jpg', 'article_date' => '2021-01-28 10:28:44', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 4 => array( 'Article' => array( 'id' => '12993', 'article_category_id' => '1', 'title' => 'WFP Chief Warns of Vulnerable Supply Chains', 'sub_title' => '', 'summary' => 'January 28: Chief of the World Food Program (WFP) has reportedly said that the COVID-19 pandemic has highlighted the need to strengthen vulnerable supply chains to impoverished nations struggling to feed their populations.', 'content' => '<p><span style="font-size:12pt"><span style="font-family:"Times New Roman""><span style="font-size:16.5pt"><span style="font-family:Helvetica">January 28: Chief of the World Food Program (WFP) has reportedly said that the COVID-19 pandemic has highlighted the need to strengthen vulnerable supply chains to impoverished nations struggling to feed their populations.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman""><span style="font-size:16.5pt"><span style="font-family:Helvetica">According to the Associated Press (AP), David Beasley, executive director of the United Nations' Nobel Peace Prize-winning food program, said that the pandemic put further stress on supply chains getting food to the hungry.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman""><span style="font-size:16.5pt"><span style="font-family:Helvetica">“We’ve got to continue to work the system, we've got to make certain that we are ... less vulnerable to COVID type impacts,” AP quoted Beasley as saying in a virtual panel of the World Economic Forum.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman""><span style="font-size:16.5pt"><span style="font-family:Helvetica">“If you think you’ve had trouble getting toilet paper in New York, because of supply chain disruption, what do you think’s happening in Chad and Niger and Mali and places like that?”</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman""><span style="font-size:16.5pt"><span style="font-family:Helvetica">Beasley stressed that the food supply system is “not broken” but that 10 percent of the global population is in extreme poverty and need to be reached by suppliers and that the global pandemic exacerbated existing problems, AP reported.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman""><span style="font-size:16.5pt"><span style="font-family:Helvetica">He said that “with 270 million people on the brink of starvation, if we don’t receive the support and the funds that we need, you will have mass famine, starvation, you’ll have destabilization of nations and you’ll have mass migration. And the cost of that is a thousand times more.”</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman""><span style="font-size:16.5pt"><span style="font-family:Helvetica">Dutch Prime Minister Mark Rutte, whose country is a center for agricultural innovation and a major exporter of farm produce, announced that his country would host a global coordination center for regional “food innovation hubs” established by the World Economic Forum to help tackle what he called “food system challenges.”</span></span></span></span></p> <p> </p> ', 'published' => true, 'created' => '2021-01-28', 'modified' => '2021-01-28', 'keywords' => '', 'description' => '', 'sortorder' => '12740', 'image' => '20210128095846_55222278_403.jpg', 'article_date' => '2021-01-28 09:57:27', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 5 => array( 'Article' => array( 'id' => '12992', 'article_category_id' => '1', 'title' => 'Technical Report on National Payment Switch in Final Phase', 'sub_title' => '', 'summary' => 'January 27: The technical aspect of setting up Nepal’s national payment switch to ensure safe and cost-effective electronic transactions is in the final phase of approval. ', 'content' => '<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:"Arial Unicode MS"">January 27: The technical aspect of setting up Nepal’s national payment switch to ensure safe and cost-effective electronic transactions is in the final phase of approval. </span></span></span></span></p> <p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:"Arial Unicode MS"">Nepal Clearing House Limited (NCHL), which has been authorised by Nepal Rastra Bank (NRB) to prepare the switch, informed New Business Age that its technical report has been almost finalized.</span></span></span></span></p> <p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:"Arial Unicode MS"">NCHL Chairman Naresh Shakya said that the report will be presented to the Payments System Department of NRB in two to three days after internal discussion. </span></span></span></span></p> <p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:"Arial Unicode MS"">According to Shakya, all the electronic payment systems prevalent in the market including IPS, ConnectIPS, QR Code, debit and credit cards among others will be integrated in the national switch.</span></span></span></span></p> <p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:"Arial Unicode MS"">Shakya said that the technical report will be submitted to the central bank after a board meeting of the NCHL. The company is preparing to hire additional technical staff to complete the work.</span></span></span></span></p> <p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:"Arial Unicode MS"">Shakya informed that NCHL will only look after the technical aspect of the national payment switch while the legal issues, regulation and business aspects will be dealt with by the central bank.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:Cambria"><span style="font-size:14.0pt"><span style="font-family:"Arial Unicode MS"">Banks and financial institutions (BFIs) have been paying hefty price for digital transaction through international payment gateway like Visa and MasterCard due to lack of Nepal’s own payment gateway. The switch is crucial for connecting all the institutions involved in electronic transaction.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:Cambria"><span style="font-size:14.0pt"><span style="font-family:"Arial Unicode MS"">Currently, banks have been relying on international switch for the payment through debit and credit cards as well as for the use of ATMs. Some banks have made their own switch for this purpose.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:Cambria"><span style="font-size:14.0pt"><span style="font-family:"Arial Unicode MS"">Nepal Rastra Bank has been paying Rs 12 per transaction to the operators of foreign switch, according to NRB Spokesperson Gunakar Bhatta.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:Cambria"> </span></span></p> <p> </p> ', 'published' => true, 'created' => '2021-01-27', 'modified' => '2021-01-27', 'keywords' => '', 'description' => '', 'sortorder' => '12739', 'image' => '20210127064317_1611704925.Clipboard14.jpg', 'article_date' => '2021-01-27 18:42:43', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 6 => array( 'Article' => array( 'id' => '12991', 'article_category_id' => '1', 'title' => 'Government signs MoU with Singapore-based Company for Study of Biggest Solar Project in Nepal', 'sub_title' => '', 'summary' => 'January 27: The Government of Nepal, Investment Board and Risen Energy Singapore JV Pte Ltd have signed a Memorandum of Understanding (MoU) to prepare a Detailed Feasibility Study Report (DFSR) for establishing a 2500-megawatt Grid Connected Solar Energy Project with a battery storage plant of 40 MW capacity in Nepal.', 'content' => '<p><span style="font-size:11pt"><span style="font-family:Calibri"><span style="font-size:12.0pt"><span style="font-family:"Arial Unicode MS"">January 27: The Government of Nepal, Investment Board and Risen Energy Singapore JV Pte Ltd have signed a Memorandum of Understanding (MoU) to prepare a Detailed Feasibility Study Report (DFSR) for establishing a 250-megawatt Grid-Connected Solar Energy Project with a battery storage plant of 40 MW capacity in Nepal.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri"><span style="font-size:12.0pt"><span style="font-family:"Arial Unicode MS"">As per the MoU, Risen Energy will conduct a study on setting up one solar energy project of 125 megawatt capacity each in Kohalpur of Banke and Banganga of Kapilbastu along with two battery storage plants of 20 MW capacity each.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri"><span style="font-size:12.0pt"><span style="font-family:"Arial Unicode MS"">The estimated cost of the project is USD 189.5 million, according to Joint Secretary Ramesh Adhikari.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri"><span style="font-size:12.0pt"><span style="font-family:"Arial Unicode MS"">CEO of the Investment Board Sushil Bhatta and Development Manager of the Singapore-based company Wang Qiang signed the MoU amid a function at the board’s office on Tuesday, January 26.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri"><span style="font-size:12.0pt"><span style="font-family:"Arial Unicode MS"">Risen Energy will have to submit the DFSR to the board within 12 months of receiving survey license.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri"><span style="font-size:12.0pt"><span style="font-family:"Arial Unicode MS"">The proposed project is the biggest solar energy project in the country.</span></span></span></span></p> <p> </p> <p> </p> <p> </p> <p> </p> <p> </p> <p> </p> ', 'published' => true, 'created' => '2021-01-27', 'modified' => '2021-01-27', 'keywords' => '', 'description' => '', 'sortorder' => '12738', 'image' => '20210127053003_Risen MoU Photo.jpg', 'article_date' => '2021-01-27 17:28:51', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 7 => array( 'Article' => array( 'id' => '12990', 'article_category_id' => '1', 'title' => 'Government, World Bank Launch $150 million Urban Governance and Infrastructure Project ', 'sub_title' => '', 'summary' => 'January 27: Representatives of the Government of Nepal and the World Bank jointly launched the Nepal Urban Governance and Infrastructure Project on Wednesday, January 27. ', 'content' => '<p><span style="font-size:12pt"><span style="font-family:Cambria"><span style="font-size:14.0pt"><span style="font-family:Arial">January 27: Representatives of the Government of Nepal and the World Bank jointly launched the Nepal Urban Governance and Infrastructure Project on Wednesday, January 27. </span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:Cambria"><span style="font-size:14.0pt"><span style="font-family:Arial">According to the World Bank, secretary at the </span></span><span style="font-size:14.0pt"><span style="font-family:Arial">Ministry of Urban Development, Dr Ramesh Prasad Singh, and Lada Strelkova, World Bank Operations Manager for the Maldives, Nepal, and Sri Lanka, inaugurated the project.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:Cambria"><span style="font-size:14.0pt"><span style="font-family:Arial"> The World Bank said in a statement that the four-year project is financed by the bank to promote sustainable urban development and to support post-COVID-19 economic recovery in strategic secondary cities. </span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:Cambria"><span style="font-size:14.0pt"><span style="font-family:Arial">Aligned with Nepal’s federalism principles and the National Urban Development Strategy, the $150 million project puts the municipalities at the forefront of project implementation with a focus on strengthening service delivery and institutional capacities in strategic secondary cities and supporting post-COVID-19 economic recovery through labor intensive public works, the statement added. </span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:Cambria"><span style="font-size:14.0pt"><span style="font-family:Arial">“In the context of rapid urbanization, federalism, and the pandemic, delivering better urban services and responding to the needs of the population are critical. Given the urgent needs, result-oriented implementation of the project is required at all levels of government,” the statement quoted Secretary Singh as saying.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:Cambria"><span style="font-size:14.0pt"><span style="font-family:Arial">“The project complements the Government of Nepal’s existing programs and deepens the engagement on urban development through the establishment of dedicated funding for strategic urban infrastructure in the targeted cities,” he added. </span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:Cambria"><span style="font-size:14.0pt"><span style="font-family:Arial">The 17 project municipalities are located in two strategic urban clusters in the eastern region (Provinces 1 and 2) and western region (Gandaki and Lumbini provinces). The selected municipalities are critical to Nepal's economic development and are the centres for commercial and administrative activities in those regions, stated World Bank.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:Cambria"><span style="font-size:14.0pt"><span style="font-family:Arial">According to the World Bank, the project will also support 12 additional municipalities across Nepal’s seven provinces for labor-intensive public works activities, as well as supporting four municipalities for capacity building</span></span><span style="font-size:14.0pt"><span style="font-family:Arial">. Of the total credit, about 95 percent is allocated to the local levels.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:Cambria"><span style="font-size:14.0pt"><span style="font-family:Arial"> “As part of the World Bank’s COVID-19 response, the project will support over 20,000 of the most vulnerable and unemployed people at the local level to earn at least 50 days of wages through the creation of temporary employment opportunities in the maintenance and upgrading of public infrastructure,” stated Faris Hadad-Zervos, World Bank’s country director for the Maldives, Nepal, and Sri Lanka. “Working together with the government, development partners, and the private sector, the World Bank will aim to deliver results to strengthen federalism and capacity of the targeted municipalities to the benefit of the local population.”</span></span></span></span></p> <p> </p> ', 'published' => true, 'created' => '2021-01-27', 'modified' => '2021-01-27', 'keywords' => '', 'description' => '', 'sortorder' => '12737', 'image' => '20210127031530_world-bank.jpg', 'article_date' => '2021-01-27 15:13:41', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 8 => array( 'Article' => array( 'id' => '12989', 'article_category_id' => '1', 'title' => 'COVID-19 Budget Misappropriated in Staff Allowance and Internal Management ', 'sub_title' => '', 'summary' => 'January 27: There are growing public complaints that the local levels of Okhaldhunga district have embezzled COVID-19 management funds. ', 'content' => '<p><span style="font-size:11pt"><span style="font-family:Cambria"><span style="font-family:"Arial Unicode MS"">January 27: There are growing public complaints that the local levels of Okhaldhunga district have embezzled COVID-19 management funds. </span><br /> <span style="font-family:"Arial Unicode MS"">The local levels, which had set up separate funds for the prevention and control of global pandemic of coronavirus, have spent the public money in internal management and staff allowance rather than in the concrete measures against coronavirus. </span><br /> <span style="font-family:"Arial Unicode MS"">Some 71 staffers of Manebhanjyang rural municipality have received allowance amounting to Rs 1.58 million for their service during COVID-19 time. Manebhanjyang rural municipality which spent over Rs 3.85 million on coronavirus prevention had mobilized Rs 291,850 in canteen construction and Rs 478,876 in the procurement of medical appliances. </span><br /> <span style="font-family:"Arial Unicode MS"">Likewise, Khijidemba rural municipality has spent a budget of Rs 9 million in the early four months period of CoVID-19. It had spent over Rs 8.94 million in the heading of coronavirus prevention. Likewise, the rural municipality has channelized Rs 1.13 million to provide risk allowance to 350 employees. </span><br /> <span style="font-family:"Arial Unicode MS"">All the health workers and some employees mobilized in the rural municipality were provided with 50-100 percent allowance for their engagement in risk management. </span><br /> <span style="font-family:"Arial Unicode MS"">As disclosed the rural municipality has also spent Rs 92,892 on the heading of meeting meal and allowances to the attendees of local coordination committee for the control and prevention of COVID-19. </span><br /> <span style="font-family:"Arial Unicode MS"">Despite having people's representatives, employees, health workers and volunteers, the rual municipality is also found to have spent Rs 753,131 in the heading of remuneration to information facilitator. </span><br /> <span style="font-family:"Arial Unicode MS"">Some 18 information facilitators were mobilized for two months in the rural municipality. </span><br /> <span style="font-family:"Arial Unicode MS"">The facilitators were mobilized to identify the status of stranded citizens, collect details of the people with chronic disease in wards and plan the relief distribution, shared chief administrative officer of the rural municipality, Subash Poudel. </span><br /> <span style="font-family:"Arial Unicode MS"">These are only the representative cases of financial embezzlement taking place in the rural municipalities of Okhaldhunga during the time of COVID-19. Other local levels of the district are also found to have been engaged in siphoning off the public money. -- RSS </span></span></span></p> ', 'published' => true, 'created' => '2021-01-27', 'modified' => '2021-01-27', 'keywords' => '', 'description' => '', 'sortorder' => '12736', 'image' => '20210127115028_20200316-1-Coronavirus-update 2.jpg', 'article_date' => '2021-01-27 11:49:56', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 9 => array( 'Article' => array( 'id' => '12987', 'article_category_id' => '1', 'title' => '13 Local Bodies Fail to Present Budget Even after Six Months into Current FY', 'sub_title' => 'Spending without budget approval raises concerns over fiscal indiscipline in federalism', 'summary' => 'January 26: Over a dozen local governments have not presented their budget for the current fiscal year even after the end of first half of 2020-21, raising concerns over fiscal indiscipline at local levels.', 'content' => '<h1><span style="font-size:18px">SAGAR GHIMIRE</span></h1> <h1><span style="font-size:11pt"><span style="font-family:Calibri"><span style="font-size:14.0pt">January 27: Over a dozen local governments have not presented their budget for the current fiscal year even after the end of first half of 2020-21, raising concerns over fiscal indiscipline at local levels.</span></span></span></h1> <p><span style="font-size:11pt"><span style="font-family:Calibri"><span style="font-size:14.0pt">A total of 13 local governments are yet to present their annual budget. All of them are from Province 2, according to the Ministry of Federal Affairs and General Administration (MoFAGA). </span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri"><span style="font-size:14.0pt">The delay in presenting the budget and getting it approved from the respective assembly not only goes against the provisions of the Intergovernmental Fiscal Arrangement Act and the Local Government Operation Act, but raises concerns over the breach of fiscal discipline by subnational governments.</span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri"><span style="font-size:14.0pt">Local levels that include rural municipals, municipalities, sub-metropolis and metropolis are required to present their budget (estimate of revenue and expenditure) for the upcoming fiscal year by Asadh 10 (10<sup>th</sup>day of the Nepali calendar month of Asadh, which generally falls in the last week of June). </span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri"><span style="font-size:14.0pt">Excluding the expenses (not exceeding two-thirds of the expenditureof the current fiscal year) incurred when an appropriation bill is under consideration, local governments cannot make any expenditure without approval of the budget presented in their assemblies. </span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri"><span style="font-size:14.0pt">Elected representatives at local levels who fail to present the budget on time point out political disputes hampering the budget formulation process.</span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri"><span style="font-size:14.0pt">Mithila Bihari Municipality is one such local level which had struggled to convene its Municipal Assembly to get its budget for the current fiscal year 2020-21 approvedwithin the deadline of Asadh 10 (June 24 last year). After months of political bickering, the municipality finally held its assembly nearly two and a half months later.</span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri"><span style="font-size:14.0pt">“The political disputes in our municipality delayed the process. As some members of another political party were bent on stopping the Assembly from congregating to prove that I have failed, we could not convene the Assembly on time,” said Anil Kumar Yadav, mayor of Mithila Bihari Municipality. “However, after weeks of negotiations with those trying to disrupt the Assembly, we finally succeeded in convening the Assembly and getting the budget approved after two and a half months,” he added.</span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri"><span style="font-size:14.0pt">Dhanauji Rural Municipality in Province 2 faces the similar fate. Political wrangling among the elected representatives is blamed for the failure to convene the village assembly which approves the budget. </span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri"><span style="font-size:14.0pt">“Wards should formulate and send their plans that need to be included in the budget. However, there are disputes in some of the wards among elected representatives,” said Ramwati Devi Mandal, deputy chairperson of Dhanauji Rural Municipality. </span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri"><span style="font-size:14.0pt">“We also have not been able to forge consensus in the village executive to call the village assembly as there are elected representatives from various political parties,” she added. </span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri"><span style="font-size:14.0pt">Political dispute is not the only reason that has prevented local levels from holding their assemblies or getting the budget endorsed on time. Covid-19, corruption and lack of administrative capacity are also other factors that have hit the process of budget formulation and presentation, senior MoFAGA officials said.</span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri"><span style="font-size:14.0pt">They also say that there is little they can do to pressurise subnational governments for timely approval of budget or rein in spending that is not duly approved from their respective assemblies. </span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri"><span style="font-size:14.0pt">“We are practicing a federal system where provincial and local governments are as powerful as the central government. So, we cannot intervene from the federal level and tell them what to do and what not to do. Our effort is limited to following-up on where the process of convening the assembly has reached,” said a senior official at the MoFAGA, requesting anonymity as he is not authorised to talk to media. </span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri"><span style="font-size:14.0pt">However, the central government has warned that it would suspend disbursement of grants, like complementary and special grants, to subnational governments that are yet to pass their budget. </span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri"><span style="font-size:14.0pt">According to the senior official, the ministry is now also mulling over a possibility of freezing bank accounts of the local government that fails to get its budget approved by its assembly. </span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri"><span style="font-size:14.0pt">Fiscal experts say that spending taxpayers' money without the elected assembly’s endorsement amounts to irregularity. “Whatever justifications are made, it is a disregard for the accountability and transparency,” said Khim Lal Devkota, a fiscal federalization analyst. </span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri"><span style="font-size:14.0pt">He said that the central government should stop providing financial grants to those local governments until they get their budgetsapproved from their assemblies. </span></span></span></p> <p> </p> ', 'published' => true, 'created' => '2021-01-27', 'modified' => '2021-01-27', 'keywords' => '', 'description' => '', 'sortorder' => '12735', 'image' => '20210127091328_My Effect.jpg', 'article_date' => '2021-01-27 09:09:53', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => false, 'user_id' => '34' ) ), (int) 10 => array( 'Article' => array( 'id' => '12988', 'article_category_id' => '1', 'title' => 'CNI Demands Increase in Number of Customs Agents', 'sub_title' => '', 'summary' => 'January 27: Stating that improvement and modernization of customs services and infrastructure has been intensified, the Department of Customs has said it is ready for further facilitation in import and export of goods.', 'content' => '<p><span style="font-size:12pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:Arial">January 27: Stating that improvement and modernization of customs services and infrastructure has been intensified, the Department of Customs has said it is ready for further facilitation in import and export of goods.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:Arial">In a recent interaction organized by the Confederation of Nepalese Industries (CNI), Director General of the Department of Customs Suman Dahal informed that the one-door policy is now being implemented. He added that technology-based assessment and monitoring system is being adopted while the department will soon initiate the process for digital payment. </span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:Arial">Necessary preparations have been made to increase the number of customs agents, informed Director General Dahal. Stating that cooperation and coordination is needed for the improvement of customs infrastructure and integrated check posts, Director General Dahal requested the Confederation for assistance. </span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:Arial">CNI's acting Chairman Bishnu Kumar Agrawal urged the concerned authorities to expedite the process of customs infrastructure development while also demanding for the quick transition into digital platform.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:Arial">Agrawal also drew the attention of the department that the number of customs agents has not been increased since the last 25 years and therefore urged the department to issue new license to the agents.</span></span></span></span></p> <p> </p> ', 'published' => true, 'created' => '2021-01-27', 'modified' => '2021-01-27', 'keywords' => '', 'description' => '', 'sortorder' => '12734', 'image' => '20210127105631_Picture-1.jpeg', 'article_date' => '2021-01-27 10:55:53', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 11 => array( 'Article' => array( 'id' => '12986', 'article_category_id' => '1', 'title' => 'Farmers to Start Protest in the Capital from January 27', 'sub_title' => '', 'summary' => 'January 26: Farmers and other stakeholders have decided to start protest from January 27 against the government’s decision to allow foreign investment in agriculture sector of Nepal. ', 'content' => '<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:"Arial Unicode MS"">January 26: Farmers and other stakeholders have decided to start protest from January 27 against the government’s decision to allow foreign investment in agriculture sector of Nepal. They have accused the government of trying to sideline the domestic agro-industries by opening foreign investment in this sector.</span></span></span></span></p> <p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:"Arial Unicode MS"">Farmers, entrepreneurs involved in agriculture as well as small scale industries and 16 different organisations will be staging the protests in the capital starting from January 27.</span></span></span></span></p> <p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:"Arial Unicode MS"">A struggle committee has been formed under the coordination of Shivaram KC, chairman of Nepal Egg Producers Association.</span></span></span></span></p> <p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:"Arial Unicode MS"">The Federation of National Farmers Group, Central Livestock Cooperative Association, Dairy Industries’ Association, Nepal Dairy Association, Nepal Fishery Entrepreneurs’ Federation, Nepal Egg Producers Association, Nepal Poultry Farmers Association among others have decided to hold joint protest against the government’s decision. </span></span></span></span></p> <p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:"Arial Unicode MS"">The struggle committee has been creating awareness among farmers and entrepreneurs in the district level at the moment. After completing its awareness drive on January 26, the committee will shift its focus on Kathmandu-centric protests.</span></span></span></span></p> <p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:"Arial Unicode MS"">KC said that they initiated the protest programme to exert pressure on the government to take back its decision.</span></span></span></span></p> <p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:"Arial Unicode MS"">“Most of the agriculture businesses have just become self reliant while others are still struggling to stand on their own. Therefore, foreign investment in this sector should not be encouraged,” said KC.</span></span></span></span></p> <p> </p> ', 'published' => true, 'created' => '2021-01-26', 'modified' => '2021-01-26', 'keywords' => '', 'description' => '', 'sortorder' => '12733', 'image' => '20210126064057_20210106123441_20201105020829_cover.jpg', 'article_date' => '2021-01-26 18:40:25', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 12 => array( 'Article' => array( 'id' => '12985', 'article_category_id' => '1', 'title' => 'NTA to Test Internet Quality ', 'sub_title' => '', 'summary' => 'January 26: Nepal Telecommunications Authority (NTA) has decided to test the quality of internet and mobile phone across the country at the same time. ', 'content' => '<p><span style="font-size:11pt"><span style="font-family:Cambria"><span style="font-family:"Arial Unicode MS"">January 26: Nepal Telecommunications Authority (NTA) has decided to test the quality of internet and mobile phone across the country at the same time. </span><br /> <span style="font-family:"Arial Unicode MS"">Six companies have been shortlisted for the first round to test the quality of telecommunications service. NTA had released a tender notice seeking companies to test voice, data and internet quality last August. </span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Cambria"><span style="font-family:"Arial Unicode MS"">According to NTA Spokesperson Min Prasad Aryal, the selected companies are Mahakali-Mechi Technology and Suppliers, Professional Business Network, Jayabageshwori Construction and Suppliers on behalf of Smart Management and Research, Jaljala Builders and Infrastructures as E-Coil Pvt, Exclusive Everest Microtech JV and Intelco Solution. </span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Cambria"><span style="font-family:"Arial Unicode MS"">NTA will now seek the financial and technical proposals from the shortlisted companies for the next round. Based on their proposals, the best one will be picked, Aryal added. </span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Cambria"><span style="font-family:"Arial Unicode MS"">The NTA has already allocated Rs 6 million for this purpose.- RSS</span></span></span></p> ', 'published' => true, 'created' => '2021-01-26', 'modified' => '2021-01-26', 'keywords' => '', 'description' => '', 'sortorder' => '12732', 'image' => '20210126062610_20200326081545_NTC-launches-4G-in-Rara-Lake.jpg', 'article_date' => '2021-01-26 18:24:58', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 13 => array( 'Article' => array( 'id' => '12984', 'article_category_id' => '1', 'title' => 'Non-Life Insurance Companies Report a Slump in Business', 'sub_title' => '', 'summary' => 'January 26: Business expansion of non-life insurance companies in Nepal is extremely low compared to life insurance companies.', 'content' => '<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:"Arial Unicode MS"">January 26: Business expansion of non-life insurance companies in Nepal is extremely low compared to life insurance companies. Life insurance companies made brisk business even amid the coronavirus pandemic in the current fiscal year. However, non-life insurance companies could not match the pace of life insurance companies in business expansion.</span></span></span></span></p> <p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:"Arial Unicode MS"">In the first six months of the current fiscal year, the business of life insurance companies expanded by 32.12 percent whereas the business of non-life insurance companies grew by only 9.90 percent. The business of non-life insurance companies had expanded by 15 percent during the corresponding period of last fiscal year.</span></span></span></span></p> <p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:"Arial Unicode MS"">Currently, there are 20 non-life insurance companies in Nepal. Among them, 19 companies collected insurance premium of Rs 15.20 billion during the review period. The government-owned National Insurance Company’s details have not been included in this report because the company did not submit its financial report. </span></span></span></span></p> <p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:"Arial Unicode MS"">Non-life insurance is directly linked with the banking sector. They have to insure all those sectors where Banks and Financial Institutions (BFIs) have made investment. For instance, it is mandatory to insure houses built by taking loan from banks. However, of late, banks have not stepped up their investment in sectors likely to fall under the scope of insurance. That has also resulted in a slump in business of non-life insurance companies.</span></span></span></span></p> <p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:"Arial Unicode MS"">The sale of new vehicles has also declined in recent days. As a result, non-life insurance companies have not been able to make good business, says Sunil Ballav Panta, CEO of NLG Insurance Company.</span></span></span></span></p> <p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:"Arial Unicode MS"">He says insurance business might have suffered a setback due to increase in investment in the share market.</span></span></span></span></p> <p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:"Arial Unicode MS"">“The business of non-life insurance companies has definitely shrunk. But we must consider it satisfactory amid the current financial crisis induced by Covid-19,” says Panta.</span></span></span></span></p> <p> </p> ', 'published' => true, 'created' => '2021-01-26', 'modified' => '2021-01-26', 'keywords' => '', 'description' => '', 'sortorder' => '12731', 'image' => '20210126035250_20200223013317_aaaa.jpg', 'article_date' => '2021-01-26 15:52:15', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 14 => array( 'Article' => array( 'id' => '12983', 'article_category_id' => '1', 'title' => 'Udaypur Cement Factory Resumes Regular Production', 'sub_title' => '', 'summary' => 'January 26: Udaypur Cement Factory has started regular production of cement. ', 'content' => '<p><span style="font-size:11pt"><span style="font-family:Calibri"><span style="font-size:12.0pt"><span style="font-family:"Times New Roman"">January 26: Udaypur Cement Factory has started regular production of cement in almost ten months. Production of cement had been obstructed due to coronavirus as well as lack of raw materials.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri"><span style="font-size:12.0pt"><span style="font-family:"Times New Roman"">The factory had halted most of the production as it was without a general manager during this period.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri"><span style="font-size:12.0pt"><span style="font-family:"Times New Roman"">Newly-appointed General Manager Gopi Krishna Neupane informed New Business Age that he has emphasized on regular production rather than increasing production capacity at the moment. </span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri"><span style="font-size:12.0pt"><span style="font-family:"Times New Roman"">“The cement production at the factory was zero before I took charge,” Neupane said, adding, “The process to resolve problems related to staff, management as well as remuneration has been initiated.” </span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri"><span style="font-size:12.0pt"><span style="font-family:"Times New Roman"">He said that the issue of wage has been managed for the time being using the factory’s internal funds at a time when the sales and income of the industry have declined. However, Neupane informed that electricity tariff and revenue of Rs 500 million will be paid after they start full-fledged production. </span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri"><span style="font-size:12.0pt"><span style="font-family:"Times New Roman"">Udaypur Cement Factory has started selling 8,000 bags of cement per day, including the stock. </span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri"><span style="font-size:12.0pt"><span style="font-family:"Times New Roman"">The factory, which started production on Sunday, will now produce 12,000 sacks or 600 tonnes of cement on a daily basis. The daily production capacity of the cement factory is 16,000 sacks or 800 tons. The price of cement is Rs 741 per sack. </span></span></span></span></p> <p> </p> <p> </p> ', 'published' => true, 'created' => '2021-01-26', 'modified' => '2021-01-26', 'keywords' => '', 'description' => '', 'sortorder' => '12730', 'image' => '20210126030008_1611619104.Clipboard11.jpg', 'article_date' => '2021-01-26 14:59:25', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => false, '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">January 28: Japan International Cooperation Agency (JICA) has announced the completion of the rehabilitation of a section of the BP Highway in Sindhuli. </span></span></p> <p><span style="font-size:11pt"><span style="font-family:Cambria">According to JICA, the Sindhuli road was damaged in more than 24 places by the catastrophic earthquake on 25 April 2015 as well as its major aftershock on 12 May 2015.</span></span></p> <p><span style="font-size:11pt"><span style="font-family:Cambria">The Japanese government provided grant assistance to rehabilitate five critically damaged portions of the Sindhuli Road following upon the request of the Government of Nepal.</span></span></p> <p><span style="font-size:11pt"><span style="font-family:Cambria">Following an Exchange of Note (E/N) between the two governments, JICA signed an agreement on 25<sup>th</sup> October 2018 with Nepal to provide grant assistance of 1,047 million Japanese Yen. </span></span></p> <p><span style="font-size:11pt"><span style="font-family:Cambria">Issuing a statement, JICA said that the rehabilitated road section was inaugurated in a virtual ceremony on Thursday (January 28).</span></span></p> <p><span style="font-size:11pt"><span style="font-family:Cambria">“Rehabilitation of the Sindhuli road will facilitate smooth traffic flow, which will not only result in having a reliable link between Kathmandu and the Eastern Terai but also cater to the need of the public by creating better mobility, easier accessibility to health facilities and education, better economic socio-cultural activities,” the statement added. </span></span></p> <p><span style="font-size:11pt"><span style="font-family:Cambria"> Furthermore, one of the major outcome of the rehabilitation project is the transfer of advanced and effective technology to the Nepalese counterparts and engineers, mainly for the slope stabilization of the mountainous roads, JICA further said.</span></span></p> <p><span style="font-size:11pt"><span style="font-family:Cambria">The Sindhuli Road is one of the most important roads in Nepal that links the capital, with Eastern Terai. According to JICA, the construction of the Sindhuli Road, with a total length of 160 km, started with Japanese grant in 1996 and was completed in March 2015.</span></span></p> ', 'published' => true, 'created' => '2021-01-28', 'modified' => '2021-01-28', 'keywords' => '', 'description' => '', 'sortorder' => '12744', 'image' => '20210128070713_IMG_2102.JPG', 'article_date' => '2021-01-28 19:06:36', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => false, 'user_id' => '34' ) ), (int) 1 => array( 'Article' => array( 'id' => '12996', 'article_category_id' => '1', 'title' => 'Nepal’s Perceived Level of Corruption Increases ', 'sub_title' => 'Fall in the score to 33 also plunges Nepal’s global ranking to 117th position ', 'summary' => 'January 28: Nepal’s score at the Corruption Perceptions Index (CPI) has further slipped to 33 in 2020 from 34 in 2019, indicating that the perceived levels of public sector corruption in the country has increased in last one year. ', 'content' => '<p><span style="font-size:18px"><span style="font-family:Calibri">January 28: Nepal’s score at the Corruption Perceptions Index (CPI) has further slipped to 33 in 2020 from 34 in 2019, indicating that the perceived levels of public sector corruption in the country has increased in last one year. </span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri">The fall in the score also plunged Nepal into 117<sup>th</sup> position in the global ranking in 2020’s index from 113<sup>th</sup> in 2019 out of 180 countries and territories included in the research by Transparency International. </span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri">Transparency International uses a scale of 0 to 100 to measure the perceived levels of public sector corruption in the countries and territories included in the index where 0 is regarded as highly corrupt and 100 is very clean.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri">The deterioration of both score and ranking of Nepal indicates that the country’s corruption has become more prevalent and authorities failed to tackle the tackle the grafts, according to good governance experts. </span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri">Though the drop in the score or ranking does not necessarily mean the corruption has increased in Nepal, it reflects the perception of levels of public sector corruption among experts and businesspeople. </span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri">Transparency International, however, put Nepal in a list of significant improver in Asia Pacific based on the country’s progress in last 10 years. According to the CPI, Nepal’s score rose to 6 from the CPI 2012. </span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri">According to Transparency International, more than two-thirds of countries score below 50 on this year’s CPI, with an average score of just 43. </span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri">As in the past, Denmark and New Zealand stood in the top of the CPI with 88 score while South Sudan and Somalia with scores of 12 each remained in the bottom. </span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri">In Asia, key economies such as India (40), Indonesia (37) and Bangladesh (26) experienced slow progress in anti-corruption efforts, with several government commitments to reform not yet materialising effectively, according to Transparency International. </span></span></p> <p> </p> <p> </p> <p> </p> ', 'published' => true, 'created' => '2021-01-28', 'modified' => '2021-01-28', 'keywords' => '', 'description' => '', 'sortorder' => '12743', 'image' => '20210128035011_11579841541.jpg', 'article_date' => '2021-01-28 15:49:10', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 2 => array( 'Article' => array( 'id' => '12995', 'article_category_id' => '1', 'title' => 'Job Loss due to Covid-19 Four Times more than Global Financial Crisis of 2008: ILO ', 'sub_title' => '', 'summary' => 'January 28: The latest analysis of the International Labour Organization (ILO), on the impact of COVID-19 on the labour market shows massive damage to working time and income. ', 'content' => '<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt">January 28: The latest analysis of the International Labour Organization (ILO), on the impact of COVID-19 on the labour market shows massive damage to working time and income. </span></span></span></p> <p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt">"Prospects for recovery in 2021 are slow, uneven and uncertain and needs early improvements supported by human-centred recovery policies," the seventh edition of the ILO Monitor: COVID-19 and the world of work estimates.</span></span></span></p> <p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt">The unprecedented disruption in 2020 due to the COVID-19 pandemic has led to greater job loss, four times greater than that during the global financial crisis over a decade ago.</span></span></span></p> <p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt">New annual estimates in the seventh edition of the ILO Monitor: COVID-19 and the world of work confirm the massive impact that labour markets suffered last year. The latest figures show that 8.8 percent of global working hours were lost for the whole of 2020 (relative to the fourth quarter of 2019), equivalent to 255 million full-time jobs or approximately quadruple the jobs lost during the 2009 global financial crisis.</span></span></span></p> <p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt">These lost working hours are accounted for either by reduced working hours for those in employment or “unprecedented” levels of employment loss, hitting 114 million people. Significantly, 71 percent of these employment losses (81 million people) came in the form of inactivity, rather than unemployment, meaning that people left the labour market because they were unable to work, perhaps because of pandemic restrictions, or simply ceased to look for work. Looking at unemployment alone drastically understates the impact of COVID-19 on the labour market.</span></span></span></p> <p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt">These massive losses resulted in an 8.3 per cent decline in global labour income, equivalent to USD 3.7 trillion or 4.4 per cent of global Gross Domestic Product (GDP).</span></span></span></p> <p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt">Women have been more affected than men due to labour market disruptions led by the pandemic. Globally, employment losses for women stand at 5 per cent, versus 3.9 per cent for men. In particular, women were much more likely than men to drop out of the labour market and become inactive.</span></span></span></p> <p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt">Younger workers have also been particularly hard hit, either losing jobs, dropping out of the labour force or delaying entry into it. The employment loss among youth (15-24 years old) stood at 8.7 per cent, compared to 3.7 per cent for adults.</span></span></span></p> <p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt">The report shows the uneven impact on different economic, geographic, and labour market sectors. It highlights concerns of a “K-shaped recovery”, whereby those sectors and workers hit hardest could be left behind in the recovery, leading to increasing inequality, unless corrective measures are taken.</span></span></span></p> <p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt">The worst affected sector has been accommodation and food services, where employment declined by more than 20 per cent, on average, followed by retail and manufacturing. In contrast, employment in information and communication, and finance and insurance, increased in the second and third quarters of 2020. However, mining, quarrying and utilities, witnessed a marginal growth.</span></span></span></p> <p> </p> ', 'published' => true, 'created' => '2021-01-28', 'modified' => '2021-01-28', 'keywords' => '', 'description' => '', 'sortorder' => '12742', 'image' => '20210128015934_maxresdefault.jpg', 'article_date' => '2021-01-28 13:58:32', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 3 => array( 'Article' => array( 'id' => '12994', 'article_category_id' => '1', 'title' => 'Government’s Plan to Export Citrus Fruits to China Suffers a Blow', 'sub_title' => '', 'summary' => 'January 28: The government’s plan to export citrus fruits to China has suffered a setback after the northern neighbor denied permission for such deal. ', 'content' => '<p><span style="font-size:12pt"><span style="font-family:"Times New Roman""><span style="font-size:14.0pt"><span style="font-family:"Arial Unicode MS"">January 28: The government’s plan to export citrus fruits to China has suffered a setback after the northern neighbor denied permission for such deal. </span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman""><span style="font-size:14.0pt"><span style="font-family:"Arial Unicode MS"">During Chinese President Xi Jinping’s state visit to Nepal last year, the Ministry of Agriculture and Livestock Development had signed an agreement with China’s Agriculture Department to export citrus fruits to the northern neighbour.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman""><span style="font-size:14.0pt"><span style="font-family:"Arial Unicode MS"">The Chinese government has delayed implementation of the agreement as a precautionary measure against coronavirus after the emergence of a new strain of coronavirus in China and many other countries.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman""><span style="font-size:14.0pt"><span style="font-family:"Arial Unicode MS"">The Ministry of Agriculture and Livestock Development had earlier claimed that it would start exporting citrus fruits to China from late January this year. However, China sent a letter to the government stating that it would not be able to import citrus fruits from Nepal this year citing security reasons at a time when the Government of Nepal had completed the preparation to export such fruits to China. Spokesperson at the ministry Dr Shree Ram Ghimire confirmed that China delayed implementation of the agreement citing security risk.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman""><span style="font-size:14.0pt"><span style="font-family:"Arial Unicode MS"">“We had completed all the preparations for exporting citrus fruits to China but the plan could not materialize due to China’s stance. We are hopeful that the fruits will be exported during next season,” said Dr Ghimire.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman""><span style="font-size:14.0pt"><span style="font-family:"Arial Unicode MS"">The farmers have now started selling the fruits in the domestic market.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman""><span style="font-size:14.0pt"><span style="font-family:"Arial Unicode MS"">Citrus fruits are mostly produced in hill districts of Ramechhap, Sindhuli, Doti, Dadheldhura, Baitadi, Okhaldhunga, Lamjung, Dhankuta, Palpa, Taplejung among others.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman""><span style="font-size:14.0pt"><span style="font-family:"Arial Unicode MS"">According to government data, Nepal produces 177,000 metric tons of oranges, 39,000 metric tons of lemon and 43,000 metric tons of mandarin oranges annually.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman""><span style="font-size:14.0pt"><span style="font-family:"Arial Unicode MS"">Citrus fruits are cultivated in 56 districts of Nepal, but only 44 districts have started commercial farming.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman""><span style="font-size:14.0pt"><span style="font-family:"Arial Unicode MS"">Oranges produced in the country make up for 80 percent of the market demand while the remaining 20 percent is imported from foreign countries, according to the government data.</span></span></span></span></p> <p><img alt="" src="/app/webroot/userfiles/images/20201231121240_20190220125347_aaa.jpg" style="height:600px; width:800px" /></p> <p> </p> ', 'published' => true, 'created' => '2021-01-28', 'modified' => '2021-01-28', 'keywords' => '', 'description' => '', 'sortorder' => '12741', 'image' => '20210128102937_1611791192.Clipboard13.jpg', 'article_date' => '2021-01-28 10:28:44', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 4 => array( 'Article' => array( 'id' => '12993', 'article_category_id' => '1', 'title' => 'WFP Chief Warns of Vulnerable Supply Chains', 'sub_title' => '', 'summary' => 'January 28: Chief of the World Food Program (WFP) has reportedly said that the COVID-19 pandemic has highlighted the need to strengthen vulnerable supply chains to impoverished nations struggling to feed their populations.', 'content' => '<p><span style="font-size:12pt"><span style="font-family:"Times New Roman""><span style="font-size:16.5pt"><span style="font-family:Helvetica">January 28: Chief of the World Food Program (WFP) has reportedly said that the COVID-19 pandemic has highlighted the need to strengthen vulnerable supply chains to impoverished nations struggling to feed their populations.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman""><span style="font-size:16.5pt"><span style="font-family:Helvetica">According to the Associated Press (AP), David Beasley, executive director of the United Nations' Nobel Peace Prize-winning food program, said that the pandemic put further stress on supply chains getting food to the hungry.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman""><span style="font-size:16.5pt"><span style="font-family:Helvetica">“We’ve got to continue to work the system, we've got to make certain that we are ... less vulnerable to COVID type impacts,” AP quoted Beasley as saying in a virtual panel of the World Economic Forum.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman""><span style="font-size:16.5pt"><span style="font-family:Helvetica">“If you think you’ve had trouble getting toilet paper in New York, because of supply chain disruption, what do you think’s happening in Chad and Niger and Mali and places like that?”</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman""><span style="font-size:16.5pt"><span style="font-family:Helvetica">Beasley stressed that the food supply system is “not broken” but that 10 percent of the global population is in extreme poverty and need to be reached by suppliers and that the global pandemic exacerbated existing problems, AP reported.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman""><span style="font-size:16.5pt"><span style="font-family:Helvetica">He said that “with 270 million people on the brink of starvation, if we don’t receive the support and the funds that we need, you will have mass famine, starvation, you’ll have destabilization of nations and you’ll have mass migration. And the cost of that is a thousand times more.”</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman""><span style="font-size:16.5pt"><span style="font-family:Helvetica">Dutch Prime Minister Mark Rutte, whose country is a center for agricultural innovation and a major exporter of farm produce, announced that his country would host a global coordination center for regional “food innovation hubs” established by the World Economic Forum to help tackle what he called “food system challenges.”</span></span></span></span></p> <p> </p> ', 'published' => true, 'created' => '2021-01-28', 'modified' => '2021-01-28', 'keywords' => '', 'description' => '', 'sortorder' => '12740', 'image' => '20210128095846_55222278_403.jpg', 'article_date' => '2021-01-28 09:57:27', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 5 => array( 'Article' => array( 'id' => '12992', 'article_category_id' => '1', 'title' => 'Technical Report on National Payment Switch in Final Phase', 'sub_title' => '', 'summary' => 'January 27: The technical aspect of setting up Nepal’s national payment switch to ensure safe and cost-effective electronic transactions is in the final phase of approval. ', 'content' => '<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:"Arial Unicode MS"">January 27: The technical aspect of setting up Nepal’s national payment switch to ensure safe and cost-effective electronic transactions is in the final phase of approval. </span></span></span></span></p> <p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:"Arial Unicode MS"">Nepal Clearing House Limited (NCHL), which has been authorised by Nepal Rastra Bank (NRB) to prepare the switch, informed New Business Age that its technical report has been almost finalized.</span></span></span></span></p> <p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:"Arial Unicode MS"">NCHL Chairman Naresh Shakya said that the report will be presented to the Payments System Department of NRB in two to three days after internal discussion. </span></span></span></span></p> <p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:"Arial Unicode MS"">According to Shakya, all the electronic payment systems prevalent in the market including IPS, ConnectIPS, QR Code, debit and credit cards among others will be integrated in the national switch.</span></span></span></span></p> <p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:"Arial Unicode MS"">Shakya said that the technical report will be submitted to the central bank after a board meeting of the NCHL. The company is preparing to hire additional technical staff to complete the work.</span></span></span></span></p> <p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:"Arial Unicode MS"">Shakya informed that NCHL will only look after the technical aspect of the national payment switch while the legal issues, regulation and business aspects will be dealt with by the central bank.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:Cambria"><span style="font-size:14.0pt"><span style="font-family:"Arial Unicode MS"">Banks and financial institutions (BFIs) have been paying hefty price for digital transaction through international payment gateway like Visa and MasterCard due to lack of Nepal’s own payment gateway. The switch is crucial for connecting all the institutions involved in electronic transaction.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:Cambria"><span style="font-size:14.0pt"><span style="font-family:"Arial Unicode MS"">Currently, banks have been relying on international switch for the payment through debit and credit cards as well as for the use of ATMs. Some banks have made their own switch for this purpose.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:Cambria"><span style="font-size:14.0pt"><span style="font-family:"Arial Unicode MS"">Nepal Rastra Bank has been paying Rs 12 per transaction to the operators of foreign switch, according to NRB Spokesperson Gunakar Bhatta.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:Cambria"> </span></span></p> <p> </p> ', 'published' => true, 'created' => '2021-01-27', 'modified' => '2021-01-27', 'keywords' => '', 'description' => '', 'sortorder' => '12739', 'image' => '20210127064317_1611704925.Clipboard14.jpg', 'article_date' => '2021-01-27 18:42:43', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 6 => array( 'Article' => array( 'id' => '12991', 'article_category_id' => '1', 'title' => 'Government signs MoU with Singapore-based Company for Study of Biggest Solar Project in Nepal', 'sub_title' => '', 'summary' => 'January 27: The Government of Nepal, Investment Board and Risen Energy Singapore JV Pte Ltd have signed a Memorandum of Understanding (MoU) to prepare a Detailed Feasibility Study Report (DFSR) for establishing a 2500-megawatt Grid Connected Solar Energy Project with a battery storage plant of 40 MW capacity in Nepal.', 'content' => '<p><span style="font-size:11pt"><span style="font-family:Calibri"><span style="font-size:12.0pt"><span style="font-family:"Arial Unicode MS"">January 27: The Government of Nepal, Investment Board and Risen Energy Singapore JV Pte Ltd have signed a Memorandum of Understanding (MoU) to prepare a Detailed Feasibility Study Report (DFSR) for establishing a 250-megawatt Grid-Connected Solar Energy Project with a battery storage plant of 40 MW capacity in Nepal.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri"><span style="font-size:12.0pt"><span style="font-family:"Arial Unicode MS"">As per the MoU, Risen Energy will conduct a study on setting up one solar energy project of 125 megawatt capacity each in Kohalpur of Banke and Banganga of Kapilbastu along with two battery storage plants of 20 MW capacity each.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri"><span style="font-size:12.0pt"><span style="font-family:"Arial Unicode MS"">The estimated cost of the project is USD 189.5 million, according to Joint Secretary Ramesh Adhikari.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri"><span style="font-size:12.0pt"><span style="font-family:"Arial Unicode MS"">CEO of the Investment Board Sushil Bhatta and Development Manager of the Singapore-based company Wang Qiang signed the MoU amid a function at the board’s office on Tuesday, January 26.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri"><span style="font-size:12.0pt"><span style="font-family:"Arial Unicode MS"">Risen Energy will have to submit the DFSR to the board within 12 months of receiving survey license.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri"><span style="font-size:12.0pt"><span style="font-family:"Arial Unicode MS"">The proposed project is the biggest solar energy project in the country.</span></span></span></span></p> <p> </p> <p> </p> <p> </p> <p> </p> <p> </p> <p> </p> ', 'published' => true, 'created' => '2021-01-27', 'modified' => '2021-01-27', 'keywords' => '', 'description' => '', 'sortorder' => '12738', 'image' => '20210127053003_Risen MoU Photo.jpg', 'article_date' => '2021-01-27 17:28:51', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 7 => array( 'Article' => array( 'id' => '12990', 'article_category_id' => '1', 'title' => 'Government, World Bank Launch $150 million Urban Governance and Infrastructure Project ', 'sub_title' => '', 'summary' => 'January 27: Representatives of the Government of Nepal and the World Bank jointly launched the Nepal Urban Governance and Infrastructure Project on Wednesday, January 27. ', 'content' => '<p><span style="font-size:12pt"><span style="font-family:Cambria"><span style="font-size:14.0pt"><span style="font-family:Arial">January 27: Representatives of the Government of Nepal and the World Bank jointly launched the Nepal Urban Governance and Infrastructure Project on Wednesday, January 27. </span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:Cambria"><span style="font-size:14.0pt"><span style="font-family:Arial">According to the World Bank, secretary at the </span></span><span style="font-size:14.0pt"><span style="font-family:Arial">Ministry of Urban Development, Dr Ramesh Prasad Singh, and Lada Strelkova, World Bank Operations Manager for the Maldives, Nepal, and Sri Lanka, inaugurated the project.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:Cambria"><span style="font-size:14.0pt"><span style="font-family:Arial"> The World Bank said in a statement that the four-year project is financed by the bank to promote sustainable urban development and to support post-COVID-19 economic recovery in strategic secondary cities. </span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:Cambria"><span style="font-size:14.0pt"><span style="font-family:Arial">Aligned with Nepal’s federalism principles and the National Urban Development Strategy, the $150 million project puts the municipalities at the forefront of project implementation with a focus on strengthening service delivery and institutional capacities in strategic secondary cities and supporting post-COVID-19 economic recovery through labor intensive public works, the statement added. </span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:Cambria"><span style="font-size:14.0pt"><span style="font-family:Arial">“In the context of rapid urbanization, federalism, and the pandemic, delivering better urban services and responding to the needs of the population are critical. Given the urgent needs, result-oriented implementation of the project is required at all levels of government,” the statement quoted Secretary Singh as saying.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:Cambria"><span style="font-size:14.0pt"><span style="font-family:Arial">“The project complements the Government of Nepal’s existing programs and deepens the engagement on urban development through the establishment of dedicated funding for strategic urban infrastructure in the targeted cities,” he added. </span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:Cambria"><span style="font-size:14.0pt"><span style="font-family:Arial">The 17 project municipalities are located in two strategic urban clusters in the eastern region (Provinces 1 and 2) and western region (Gandaki and Lumbini provinces). The selected municipalities are critical to Nepal's economic development and are the centres for commercial and administrative activities in those regions, stated World Bank.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:Cambria"><span style="font-size:14.0pt"><span style="font-family:Arial">According to the World Bank, the project will also support 12 additional municipalities across Nepal’s seven provinces for labor-intensive public works activities, as well as supporting four municipalities for capacity building</span></span><span style="font-size:14.0pt"><span style="font-family:Arial">. Of the total credit, about 95 percent is allocated to the local levels.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:Cambria"><span style="font-size:14.0pt"><span style="font-family:Arial"> “As part of the World Bank’s COVID-19 response, the project will support over 20,000 of the most vulnerable and unemployed people at the local level to earn at least 50 days of wages through the creation of temporary employment opportunities in the maintenance and upgrading of public infrastructure,” stated Faris Hadad-Zervos, World Bank’s country director for the Maldives, Nepal, and Sri Lanka. “Working together with the government, development partners, and the private sector, the World Bank will aim to deliver results to strengthen federalism and capacity of the targeted municipalities to the benefit of the local population.”</span></span></span></span></p> <p> </p> ', 'published' => true, 'created' => '2021-01-27', 'modified' => '2021-01-27', 'keywords' => '', 'description' => '', 'sortorder' => '12737', 'image' => '20210127031530_world-bank.jpg', 'article_date' => '2021-01-27 15:13:41', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 8 => array( 'Article' => array( 'id' => '12989', 'article_category_id' => '1', 'title' => 'COVID-19 Budget Misappropriated in Staff Allowance and Internal Management ', 'sub_title' => '', 'summary' => 'January 27: There are growing public complaints that the local levels of Okhaldhunga district have embezzled COVID-19 management funds. ', 'content' => '<p><span style="font-size:11pt"><span style="font-family:Cambria"><span style="font-family:"Arial Unicode MS"">January 27: There are growing public complaints that the local levels of Okhaldhunga district have embezzled COVID-19 management funds. </span><br /> <span style="font-family:"Arial Unicode MS"">The local levels, which had set up separate funds for the prevention and control of global pandemic of coronavirus, have spent the public money in internal management and staff allowance rather than in the concrete measures against coronavirus. </span><br /> <span style="font-family:"Arial Unicode MS"">Some 71 staffers of Manebhanjyang rural municipality have received allowance amounting to Rs 1.58 million for their service during COVID-19 time. Manebhanjyang rural municipality which spent over Rs 3.85 million on coronavirus prevention had mobilized Rs 291,850 in canteen construction and Rs 478,876 in the procurement of medical appliances. </span><br /> <span style="font-family:"Arial Unicode MS"">Likewise, Khijidemba rural municipality has spent a budget of Rs 9 million in the early four months period of CoVID-19. It had spent over Rs 8.94 million in the heading of coronavirus prevention. Likewise, the rural municipality has channelized Rs 1.13 million to provide risk allowance to 350 employees. </span><br /> <span style="font-family:"Arial Unicode MS"">All the health workers and some employees mobilized in the rural municipality were provided with 50-100 percent allowance for their engagement in risk management. </span><br /> <span style="font-family:"Arial Unicode MS"">As disclosed the rural municipality has also spent Rs 92,892 on the heading of meeting meal and allowances to the attendees of local coordination committee for the control and prevention of COVID-19. </span><br /> <span style="font-family:"Arial Unicode MS"">Despite having people's representatives, employees, health workers and volunteers, the rual municipality is also found to have spent Rs 753,131 in the heading of remuneration to information facilitator. </span><br /> <span style="font-family:"Arial Unicode MS"">Some 18 information facilitators were mobilized for two months in the rural municipality. </span><br /> <span style="font-family:"Arial Unicode MS"">The facilitators were mobilized to identify the status of stranded citizens, collect details of the people with chronic disease in wards and plan the relief distribution, shared chief administrative officer of the rural municipality, Subash Poudel. </span><br /> <span style="font-family:"Arial Unicode MS"">These are only the representative cases of financial embezzlement taking place in the rural municipalities of Okhaldhunga during the time of COVID-19. Other local levels of the district are also found to have been engaged in siphoning off the public money. -- RSS </span></span></span></p> ', 'published' => true, 'created' => '2021-01-27', 'modified' => '2021-01-27', 'keywords' => '', 'description' => '', 'sortorder' => '12736', 'image' => '20210127115028_20200316-1-Coronavirus-update 2.jpg', 'article_date' => '2021-01-27 11:49:56', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 9 => array( 'Article' => array( 'id' => '12987', 'article_category_id' => '1', 'title' => '13 Local Bodies Fail to Present Budget Even after Six Months into Current FY', 'sub_title' => 'Spending without budget approval raises concerns over fiscal indiscipline in federalism', 'summary' => 'January 26: Over a dozen local governments have not presented their budget for the current fiscal year even after the end of first half of 2020-21, raising concerns over fiscal indiscipline at local levels.', 'content' => '<h1><span style="font-size:18px">SAGAR GHIMIRE</span></h1> <h1><span style="font-size:11pt"><span style="font-family:Calibri"><span style="font-size:14.0pt">January 27: Over a dozen local governments have not presented their budget for the current fiscal year even after the end of first half of 2020-21, raising concerns over fiscal indiscipline at local levels.</span></span></span></h1> <p><span style="font-size:11pt"><span style="font-family:Calibri"><span style="font-size:14.0pt">A total of 13 local governments are yet to present their annual budget. All of them are from Province 2, according to the Ministry of Federal Affairs and General Administration (MoFAGA). </span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri"><span style="font-size:14.0pt">The delay in presenting the budget and getting it approved from the respective assembly not only goes against the provisions of the Intergovernmental Fiscal Arrangement Act and the Local Government Operation Act, but raises concerns over the breach of fiscal discipline by subnational governments.</span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri"><span style="font-size:14.0pt">Local levels that include rural municipals, municipalities, sub-metropolis and metropolis are required to present their budget (estimate of revenue and expenditure) for the upcoming fiscal year by Asadh 10 (10<sup>th</sup>day of the Nepali calendar month of Asadh, which generally falls in the last week of June). </span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri"><span style="font-size:14.0pt">Excluding the expenses (not exceeding two-thirds of the expenditureof the current fiscal year) incurred when an appropriation bill is under consideration, local governments cannot make any expenditure without approval of the budget presented in their assemblies. </span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri"><span style="font-size:14.0pt">Elected representatives at local levels who fail to present the budget on time point out political disputes hampering the budget formulation process.</span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri"><span style="font-size:14.0pt">Mithila Bihari Municipality is one such local level which had struggled to convene its Municipal Assembly to get its budget for the current fiscal year 2020-21 approvedwithin the deadline of Asadh 10 (June 24 last year). After months of political bickering, the municipality finally held its assembly nearly two and a half months later.</span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri"><span style="font-size:14.0pt">“The political disputes in our municipality delayed the process. As some members of another political party were bent on stopping the Assembly from congregating to prove that I have failed, we could not convene the Assembly on time,” said Anil Kumar Yadav, mayor of Mithila Bihari Municipality. “However, after weeks of negotiations with those trying to disrupt the Assembly, we finally succeeded in convening the Assembly and getting the budget approved after two and a half months,” he added.</span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri"><span style="font-size:14.0pt">Dhanauji Rural Municipality in Province 2 faces the similar fate. Political wrangling among the elected representatives is blamed for the failure to convene the village assembly which approves the budget. </span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri"><span style="font-size:14.0pt">“Wards should formulate and send their plans that need to be included in the budget. However, there are disputes in some of the wards among elected representatives,” said Ramwati Devi Mandal, deputy chairperson of Dhanauji Rural Municipality. </span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri"><span style="font-size:14.0pt">“We also have not been able to forge consensus in the village executive to call the village assembly as there are elected representatives from various political parties,” she added. </span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri"><span style="font-size:14.0pt">Political dispute is not the only reason that has prevented local levels from holding their assemblies or getting the budget endorsed on time. Covid-19, corruption and lack of administrative capacity are also other factors that have hit the process of budget formulation and presentation, senior MoFAGA officials said.</span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri"><span style="font-size:14.0pt">They also say that there is little they can do to pressurise subnational governments for timely approval of budget or rein in spending that is not duly approved from their respective assemblies. </span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri"><span style="font-size:14.0pt">“We are practicing a federal system where provincial and local governments are as powerful as the central government. So, we cannot intervene from the federal level and tell them what to do and what not to do. Our effort is limited to following-up on where the process of convening the assembly has reached,” said a senior official at the MoFAGA, requesting anonymity as he is not authorised to talk to media. </span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri"><span style="font-size:14.0pt">However, the central government has warned that it would suspend disbursement of grants, like complementary and special grants, to subnational governments that are yet to pass their budget. </span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri"><span style="font-size:14.0pt">According to the senior official, the ministry is now also mulling over a possibility of freezing bank accounts of the local government that fails to get its budget approved by its assembly. </span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri"><span style="font-size:14.0pt">Fiscal experts say that spending taxpayers' money without the elected assembly’s endorsement amounts to irregularity. “Whatever justifications are made, it is a disregard for the accountability and transparency,” said Khim Lal Devkota, a fiscal federalization analyst. </span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri"><span style="font-size:14.0pt">He said that the central government should stop providing financial grants to those local governments until they get their budgetsapproved from their assemblies. </span></span></span></p> <p> </p> ', 'published' => true, 'created' => '2021-01-27', 'modified' => '2021-01-27', 'keywords' => '', 'description' => '', 'sortorder' => '12735', 'image' => '20210127091328_My Effect.jpg', 'article_date' => '2021-01-27 09:09:53', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => false, 'user_id' => '34' ) ), (int) 10 => array( 'Article' => array( 'id' => '12988', 'article_category_id' => '1', 'title' => 'CNI Demands Increase in Number of Customs Agents', 'sub_title' => '', 'summary' => 'January 27: Stating that improvement and modernization of customs services and infrastructure has been intensified, the Department of Customs has said it is ready for further facilitation in import and export of goods.', 'content' => '<p><span style="font-size:12pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:Arial">January 27: Stating that improvement and modernization of customs services and infrastructure has been intensified, the Department of Customs has said it is ready for further facilitation in import and export of goods.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:Arial">In a recent interaction organized by the Confederation of Nepalese Industries (CNI), Director General of the Department of Customs Suman Dahal informed that the one-door policy is now being implemented. He added that technology-based assessment and monitoring system is being adopted while the department will soon initiate the process for digital payment. </span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:Arial">Necessary preparations have been made to increase the number of customs agents, informed Director General Dahal. Stating that cooperation and coordination is needed for the improvement of customs infrastructure and integrated check posts, Director General Dahal requested the Confederation for assistance. </span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:Arial">CNI's acting Chairman Bishnu Kumar Agrawal urged the concerned authorities to expedite the process of customs infrastructure development while also demanding for the quick transition into digital platform.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:Arial">Agrawal also drew the attention of the department that the number of customs agents has not been increased since the last 25 years and therefore urged the department to issue new license to the agents.</span></span></span></span></p> <p> </p> ', 'published' => true, 'created' => '2021-01-27', 'modified' => '2021-01-27', 'keywords' => '', 'description' => '', 'sortorder' => '12734', 'image' => '20210127105631_Picture-1.jpeg', 'article_date' => '2021-01-27 10:55:53', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 11 => array( 'Article' => array( 'id' => '12986', 'article_category_id' => '1', 'title' => 'Farmers to Start Protest in the Capital from January 27', 'sub_title' => '', 'summary' => 'January 26: Farmers and other stakeholders have decided to start protest from January 27 against the government’s decision to allow foreign investment in agriculture sector of Nepal. ', 'content' => '<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:"Arial Unicode MS"">January 26: Farmers and other stakeholders have decided to start protest from January 27 against the government’s decision to allow foreign investment in agriculture sector of Nepal. They have accused the government of trying to sideline the domestic agro-industries by opening foreign investment in this sector.</span></span></span></span></p> <p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:"Arial Unicode MS"">Farmers, entrepreneurs involved in agriculture as well as small scale industries and 16 different organisations will be staging the protests in the capital starting from January 27.</span></span></span></span></p> <p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:"Arial Unicode MS"">A struggle committee has been formed under the coordination of Shivaram KC, chairman of Nepal Egg Producers Association.</span></span></span></span></p> <p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:"Arial Unicode MS"">The Federation of National Farmers Group, Central Livestock Cooperative Association, Dairy Industries’ Association, Nepal Dairy Association, Nepal Fishery Entrepreneurs’ Federation, Nepal Egg Producers Association, Nepal Poultry Farmers Association among others have decided to hold joint protest against the government’s decision. </span></span></span></span></p> <p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:"Arial Unicode MS"">The struggle committee has been creating awareness among farmers and entrepreneurs in the district level at the moment. After completing its awareness drive on January 26, the committee will shift its focus on Kathmandu-centric protests.</span></span></span></span></p> <p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:"Arial Unicode MS"">KC said that they initiated the protest programme to exert pressure on the government to take back its decision.</span></span></span></span></p> <p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:"Arial Unicode MS"">“Most of the agriculture businesses have just become self reliant while others are still struggling to stand on their own. Therefore, foreign investment in this sector should not be encouraged,” said KC.</span></span></span></span></p> <p> </p> ', 'published' => true, 'created' => '2021-01-26', 'modified' => '2021-01-26', 'keywords' => '', 'description' => '', 'sortorder' => '12733', 'image' => '20210126064057_20210106123441_20201105020829_cover.jpg', 'article_date' => '2021-01-26 18:40:25', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 12 => array( 'Article' => array( 'id' => '12985', 'article_category_id' => '1', 'title' => 'NTA to Test Internet Quality ', 'sub_title' => '', 'summary' => 'January 26: Nepal Telecommunications Authority (NTA) has decided to test the quality of internet and mobile phone across the country at the same time. ', 'content' => '<p><span style="font-size:11pt"><span style="font-family:Cambria"><span style="font-family:"Arial Unicode MS"">January 26: Nepal Telecommunications Authority (NTA) has decided to test the quality of internet and mobile phone across the country at the same time. </span><br /> <span style="font-family:"Arial Unicode MS"">Six companies have been shortlisted for the first round to test the quality of telecommunications service. NTA had released a tender notice seeking companies to test voice, data and internet quality last August. </span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Cambria"><span style="font-family:"Arial Unicode MS"">According to NTA Spokesperson Min Prasad Aryal, the selected companies are Mahakali-Mechi Technology and Suppliers, Professional Business Network, Jayabageshwori Construction and Suppliers on behalf of Smart Management and Research, Jaljala Builders and Infrastructures as E-Coil Pvt, Exclusive Everest Microtech JV and Intelco Solution. </span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Cambria"><span style="font-family:"Arial Unicode MS"">NTA will now seek the financial and technical proposals from the shortlisted companies for the next round. Based on their proposals, the best one will be picked, Aryal added. </span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Cambria"><span style="font-family:"Arial Unicode MS"">The NTA has already allocated Rs 6 million for this purpose.- RSS</span></span></span></p> ', 'published' => true, 'created' => '2021-01-26', 'modified' => '2021-01-26', 'keywords' => '', 'description' => '', 'sortorder' => '12732', 'image' => '20210126062610_20200326081545_NTC-launches-4G-in-Rara-Lake.jpg', 'article_date' => '2021-01-26 18:24:58', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 13 => array( 'Article' => array( 'id' => '12984', 'article_category_id' => '1', 'title' => 'Non-Life Insurance Companies Report a Slump in Business', 'sub_title' => '', 'summary' => 'January 26: Business expansion of non-life insurance companies in Nepal is extremely low compared to life insurance companies.', 'content' => '<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:"Arial Unicode MS"">January 26: Business expansion of non-life insurance companies in Nepal is extremely low compared to life insurance companies. Life insurance companies made brisk business even amid the coronavirus pandemic in the current fiscal year. However, non-life insurance companies could not match the pace of life insurance companies in business expansion.</span></span></span></span></p> <p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:"Arial Unicode MS"">In the first six months of the current fiscal year, the business of life insurance companies expanded by 32.12 percent whereas the business of non-life insurance companies grew by only 9.90 percent. The business of non-life insurance companies had expanded by 15 percent during the corresponding period of last fiscal year.</span></span></span></span></p> <p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:"Arial Unicode MS"">Currently, there are 20 non-life insurance companies in Nepal. Among them, 19 companies collected insurance premium of Rs 15.20 billion during the review period. The government-owned National Insurance Company’s details have not been included in this report because the company did not submit its financial report. </span></span></span></span></p> <p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:"Arial Unicode MS"">Non-life insurance is directly linked with the banking sector. They have to insure all those sectors where Banks and Financial Institutions (BFIs) have made investment. For instance, it is mandatory to insure houses built by taking loan from banks. However, of late, banks have not stepped up their investment in sectors likely to fall under the scope of insurance. That has also resulted in a slump in business of non-life insurance companies.</span></span></span></span></p> <p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:"Arial Unicode MS"">The sale of new vehicles has also declined in recent days. As a result, non-life insurance companies have not been able to make good business, says Sunil Ballav Panta, CEO of NLG Insurance Company.</span></span></span></span></p> <p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:"Arial Unicode MS"">He says insurance business might have suffered a setback due to increase in investment in the share market.</span></span></span></span></p> <p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:"Arial Unicode MS"">“The business of non-life insurance companies has definitely shrunk. But we must consider it satisfactory amid the current financial crisis induced by Covid-19,” says Panta.</span></span></span></span></p> <p> </p> ', 'published' => true, 'created' => '2021-01-26', 'modified' => '2021-01-26', 'keywords' => '', 'description' => '', 'sortorder' => '12731', 'image' => '20210126035250_20200223013317_aaaa.jpg', 'article_date' => '2021-01-26 15:52:15', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 14 => array( 'Article' => array( 'id' => '12983', 'article_category_id' => '1', 'title' => 'Udaypur Cement Factory Resumes Regular Production', 'sub_title' => '', 'summary' => 'January 26: Udaypur Cement Factory has started regular production of cement. ', 'content' => '<p><span style="font-size:11pt"><span style="font-family:Calibri"><span style="font-size:12.0pt"><span style="font-family:"Times New Roman"">January 26: Udaypur Cement Factory has started regular production of cement in almost ten months. Production of cement had been obstructed due to coronavirus as well as lack of raw materials.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri"><span style="font-size:12.0pt"><span style="font-family:"Times New Roman"">The factory had halted most of the production as it was without a general manager during this period.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri"><span style="font-size:12.0pt"><span style="font-family:"Times New Roman"">Newly-appointed General Manager Gopi Krishna Neupane informed New Business Age that he has emphasized on regular production rather than increasing production capacity at the moment. </span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri"><span style="font-size:12.0pt"><span style="font-family:"Times New Roman"">“The cement production at the factory was zero before I took charge,” Neupane said, adding, “The process to resolve problems related to staff, management as well as remuneration has been initiated.” </span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri"><span style="font-size:12.0pt"><span style="font-family:"Times New Roman"">He said that the issue of wage has been managed for the time being using the factory’s internal funds at a time when the sales and income of the industry have declined. However, Neupane informed that electricity tariff and revenue of Rs 500 million will be paid after they start full-fledged production. </span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri"><span style="font-size:12.0pt"><span style="font-family:"Times New Roman"">Udaypur Cement Factory has started selling 8,000 bags of cement per day, including the stock. </span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri"><span style="font-size:12.0pt"><span style="font-family:"Times New Roman"">The factory, which started production on Sunday, will now produce 12,000 sacks or 600 tonnes of cement on a daily basis. The daily production capacity of the cement factory is 16,000 sacks or 800 tons. The price of cement is Rs 741 per sack. </span></span></span></span></p> <p> </p> <p> </p> ', 'published' => true, 'created' => '2021-01-26', 'modified' => '2021-01-26', 'keywords' => '', 'description' => '', 'sortorder' => '12730', 'image' => '20210126030008_1611619104.Clipboard11.jpg', 'article_date' => '2021-01-26 14:59:25', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => false, '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
