January 7: At a time when the physical progress of national pride projects has not been satisfactory, the Pokhara International Airport which is under construction in Pokhara, Kaski, is likely to be completed within the…
January 7: At a time when the physical progress of national pride projects has not been satisfactory, the Pokhara International Airport which is under construction in Pokhara, Kaski, is likely to be completed within the…
January 7: The government had a plan to integrate all the customs offices at the Integrated Check Post (ICP) of Birgunj, once it came into operation.…
January 7: The price of broiler chicken has increased by 54 percent after the government lifted lockdown in the country.…
January 7: The government has tightened the border with India after the southern neighbor reported deaths in poultry farms since last week due to bird…
January 6: While the increasing problem of power cuts in different parts of the country has given a glimpse of load shedding, the import of generators used as an alternative to electricity has also skyrocketed.…
January 6: The rise in transportation cost of daily essentials and raw materials coming from third countries is expected to increase inflation in the domestic market of…
January 6: Entrepreneurs involved in the agriculture business have decided to move court against the government’s decision to allow foreign investment in Nepal’s agriculture…
anuary 6: The prices of gold and silver have increased in the domestic market of Nepal on Wednesday.…
January 5: Nepal Infrastructure Bank Limited (NIFRA) has appointed NIBL Ace Capital Limited as its issue manager for the IPO issuance.…
January 5: The government faces an uphill battle to meet the revenue collection target set for the current fiscal…
January 5: The import of fuel has declined this year compared to last year. However, the revenue collection from the import of fuel has increased this…
January 5: Nepal Electricity Authority (NEA) has installed an additional transformer of 315 MVA capacity at its Dhalkebar substation, the largest substation in the…
January 5: Chemical fertilizer which the government intends to bring from Bangladesh under a G2G deal will take one more month to arrive in the…
January 1: Nepal SBI Bank has signed a Memorandum of Understanding (MoU) with Hotel Barahi, Pokhara to provide discount on various services provided by the hotel.…
January 4: Banks and financial institutes (BFIs) have made bids worth billions of rupees in compliance to the financial instruments issued by the central bank to mop excess of liquidity from the banking…
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The airport project has informed that the financial progress is below the target, and contractors will receive the payments after completing the specified work.<br /> According to the project, the construction work of 2,500 meters runway, ATC tower, seven buildings, and a hangar has been completed. Finishing work of these infrastructures is in progress.<br /> The only thing left to do is to install the equipment, including lighting at the airport. More than 50 percent of the equipment has been connected at the airport, and the remaining will arrive shortly.<br /> The construction of the airport will be completed within six months after the arrival of the equipment, informed Vinesh Munkarmi, chief engineer of the airport project. "If there was no problem with Covid-19, it could have been completed sooner. Due to Covid-19, the work had to be completely stopped for about 3 months," he added.<br /> Chinese workers who had gone to their country to celebrate the New Year 2020 were stranded there because of coronavirus. "Now they are coming in large numbers," he said. </span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:Cambria"><span style="font-size:14.0pt">Connection work will begin as soon as they arrive. Munkarmi informed that technicians need to come from China, Europe, and Australia to complete the technical works. The work is expected to be completed within June 2021.</span></span></span></p> <p> </p> <p> </p> ', 'published' => true, 'created' => '2021-01-07', 'modified' => '2021-01-07', 'keywords' => '', 'description' => '', 'sortorder' => '12653', 'image' => '20210107021343_1609974676.Clipboard19.jpg', 'article_date' => '2021-01-07 14:12:41', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 1 => array( 'Article' => array( 'id' => '12905', 'article_category_id' => '1', 'title' => 'ICP ‘Lacks Infrastructure’ to Facilitate Entry of Bulk Cargo', 'sub_title' => '', 'summary' => 'January 7: The government had a plan to integrate all the customs offices at the Integrated Check Post (ICP) of Birgunj, once it came into operation. ', '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 7: The government had a plan to integrate all the customs offices at the Integrated Check Post (ICP) of Birgunj, once it came into operation. It has been three years since the ICP has been used for import and export of goods but the government has not fulfilled its plan.</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"">Birgunj currently has the ICP, Birgunj Dry Port and Inarwa (Birgunj) Customs for the import and export of goods. The government was planning to convert the Birgunj Customs into passenger transit point after the ICP came into operation. It has been once year since the government decided to integrate the Dry Port with the ICP. However, the decision is yet to materialize due to poor infrastructure and ambiguous instructions.</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 importers involved in bringing in bulk cargo from Birgunj Customs have demanded a separate lane at the ICP. At present, most of the bulk cargo enter Nepal from India’s Raxaul through the friendship bridge.</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"">General Secretary of Birgunj Chamber of Commerce Madhav Rajpal says that the decision to integrate the Birgunj Customs with the ICP cannot take place unless the government makes a provision to transfer the cargo brought from Raxaul through train to the ICP.</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"">Clinker, gypsum, coal, salt, iron and some amount of petroleum products enter Nepal through Raxaul. Birgunj Customs informed that a total of 51 racks of goods entered Nepal through Raxaul in December.</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"">Kamal Gyawali, chief of Nepal Intermodal Transport Development Committee (NTDC), which operates the ICP, informed that the ICP has started works to expand the infrastructures like parking lot and warehouse but they do not yet have any plan to have a separate lane for bulk cargo. </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 ICP has five lanes for import and export. Customs officer Ramesh Sukmani says that the problem has surfaced because the same lane is used for entry and exit of goods. Sukmani says that the plan to integrate Birgunj Customs with the ICP could not take place due to lack of adequate infrastructure.</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 foreign trade has already been shifted from to the ICP from the Birgunj Customs. However, the entry of bulk cargo is still taking place from the old customs point,” says Sukmani.</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 ICP lacks adequate infrastructure to allow the entry of bulk cargo,” he added.</span></span></span></span></p> <p> </p> ', 'published' => true, 'created' => '2021-01-07', 'modified' => '2021-01-07', 'keywords' => '', 'description' => '', 'sortorder' => '12652', 'image' => '20210107010829_1609973629.Clipboard16.jpg', 'article_date' => '2021-01-07 13:07:54', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 2 => array( 'Article' => array( 'id' => '12904', 'article_category_id' => '1', 'title' => 'Price of Chicken Increases by 54 Percent', 'sub_title' => '', 'summary' => 'January 7: The price of broiler chicken has increased by 54 percent after the government lifted lockdown in the country. ', '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 7: The price of broiler chicken has increased by 54 percent after the government lifted lockdown in the country. The price hike is attributed to the increase in consumption after hotels, restaurants and party palaces started reopening post-lockdown.</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 the entrepreneurs involved in meat business in Nepal, the price of chicken was Rs 240 per kilogram in early September. The current price of chicken is Rs 370 per kg.</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 consumption of meat had dropped to 30 percent during the lockdown period. Now the consumption has increased to 60 percent compared to normal times, says Jung Bahadur BC, chairman of the Meat Entrepreneurs Association of Nepal.</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"">BC added that the price of chicken has also increased because the production is low in winter season. As farmers have started producing less amount of chichen, Nepal Hatchery Industry Association has also lowered the production of eggs, added BC.</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"">During normal circumstances, the hatchery industry of Nepal used to produce 4.2 million chicks but now the production is down to 3.2 million.</span></span></span></span></p> <p> </p> ', 'published' => true, 'created' => '2021-01-07', 'modified' => '2021-01-07', 'keywords' => '', 'description' => '', 'sortorder' => '12651', 'image' => '20210107122731_Crispy-Fried-Chicken_EXPS_FRBZ19_6445_C01_31_3b-2 2.jpg', 'article_date' => '2021-01-07 12:26:58', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => false, 'user_id' => '34' ) ), (int) 3 => array( 'Article' => array( 'id' => '12903', 'article_category_id' => '1', 'title' => 'Government on High Alert following Outbreak of Bird Flu in India', 'sub_title' => '', 'summary' => 'January 7: The government has tightened the border with India after the southern neighbor reported deaths in poultry farms since last week due to bird flu.', '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 7: The government has tightened the border with India after the southern neighbor reported deaths in poultry farms since last week due to bird flu. </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 Ministry of Agriculture and Livestock Development informed that they have decided to step up measures in the border points with India to prevent an outbreak of the disease here in Nepal.</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 ministry has instructed the District Livestock Offices in terai districts to adopt safety measures to avoid the disease from spreading, informed Dr Shree Ram Ghimire, spokesperson at the ministry.</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 Dr Ghimire, the ministry has asked the district offices and local units to inform it if they require additional manpower and machineries to curb the possible spread of the disease.</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 Department of Livestock has also started making preparations to prevent the disease from entering the country and to minimize its impact if in case the disease surfaces in Nepal.</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"">Information Officer at the department Dr Chandra Dhakal informed that they will hold discussions on Thursday (January 7) to seek measures in order to avoid the disease from entering the country.</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"">Bird flu has affected states like Himanchal Pradesh in the north to Kerala in the south as well as other areas like Indore, Haryana. The state governments have issued high alert in the affected areas and adopted emergency measures to curb the disease.</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 the BBC, thousands of birds have started dying in India due to bird flu. Shops selling poultry products have closed in some districts. Authorities have reportedly banned the sale of eggs as well.</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"">BBC further reported that more than 2,400 migratory ducks that arrived in Himanchal Pradesh from Siberia and Mongolia have been found dead. Meanwhile, authorities have culled 12,000 ducks and 36,000 birds of other species in Kerala state.</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 had first reported bird flu in 2009 while the country had to bear massive loss in 2013. Altogether 201 poultry farms in Kathmandu, Chitwan, Dhadhing, Jhapa and Kailali were affected in 2013.</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"">Officials at the agriculture ministry claim that the disease will not spread easily in Nepal. However, authorities are worried because of the close proximity with India. They suspect people in the border area might smuggle chicken from India taking advantage of the porous border and the low price of chicken in India.</span></span></span></span></p> ', 'published' => true, 'created' => '2021-01-07', 'modified' => '2021-01-07', 'keywords' => '', 'description' => '', 'sortorder' => '12650', 'image' => '20210107114529_1609973535.Clipboard17.jpg', 'article_date' => '2021-01-07 11:44:58', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => false, 'user_id' => '34' ) ), (int) 4 => array( 'Article' => array( 'id' => '12902', 'article_category_id' => '1', 'title' => 'Import of Generators up by 350 Percent ', 'sub_title' => '', 'summary' => 'January 6: While the increasing problem of power cuts in different parts of the country has given a glimpse of load shedding, the import of generators used as an alternative to electricity has also skyrocketed. ', 'content' => '<p><span style="font-size:11pt"><span style="font-family:Calibri"><span style="font-size:14.0pt"><span style="font-family:"Times New Roman"">January 6: While the increasing problem of power cuts in different parts of the country has given a glimpse of load shedding, the import of generators used as an alternative to electricity has also skyrocketed. </span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri"><span style="font-size:14.0pt"><span style="font-family:"Times New Roman"">According to the data released by the Department of Customs, the import of generators has increased by 350 percent in the first five months of the current fiscal year as compared to the previous year. </span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri"><span style="font-size:14.0pt"><span style="font-family:"Times New Roman"">In the first five months of the current fiscal year, a total of 707 units of generators have been imported into the country. Last year, only 154 units of generators were imported. </span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri"><span style="font-size:14.0pt"><span style="font-family:"Times New Roman"">During this period, the import of battery has also increased by 77 percent. However, the import of inverters seems to have declined. According to the department, the import of inverters had come down from 56 units to 50 units last year, but only 29 units have been imported this year. </span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri"><span style="font-size:14.0pt"><span style="font-family:"Times New Roman"">Director General of the Department, Suman Dahal, confirmed that the import of generators has increased. He said, "Whether it is due to rumors of load shedding or other reasons, the import of generators has increased compared to last year." </span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri"><span style="font-size:14.0pt"><span style="font-family:"Times New Roman"">The Nepal Electricity Authority (NEA) has issued a statement twice saying that there will be no load shedding as the public started doubting if there would be load shedding like before. </span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri"><span style="font-size:14.0pt"><span style="font-family:"Times New Roman"">Last week, the NEA had issued a statement informing that there will be power cuts in some places of Lalitpur to reduce power load. However, it issued another statement later saying that power cuts due to technical problems, repair works and due to the winter season is a normal phenomena while there isn’t any plan for load shedding.</span></span></span></span></p> <p> </p> ', 'published' => true, 'created' => '2021-01-06', 'modified' => '2021-01-06', 'keywords' => '', 'description' => '', 'sortorder' => '12649', 'image' => '20210106034059_10k2.jpg', 'article_date' => '2021-01-06 15:40:27', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 5 => array( 'Article' => array( 'id' => '12901', 'article_category_id' => '1', 'title' => 'Industrialists Warn of Chain Effect of Rise in Transportation Cost ', 'sub_title' => 'Industrialists warn of chain effect of price hike', 'summary' => 'January 6: The rise in transportation cost of daily essentials and raw materials coming from third countries is expected to increase inflation in the domestic market of Nepal.', 'content' => '<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:12.0pt"><span style="font-family:"Arial Unicode MS"">January 6: The rise in transportation cost of daily essentials and raw materials coming from third countries is expected to increase inflation in the domestic market of Nepal.</span></span></span></span></p> <p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:12.0pt"><span style="font-family:"Arial Unicode MS"">Industrialists say that the hike in transportation cost of mustard and soybean oil as well as plastic, coal, iron and other raw materials required for the industrial sector is certain to impact the local market of the country.</span></span></span></span></p> <p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:12.0pt"><span style="font-family:"Arial Unicode MS"">The transportation cost of one ton of plastic has been increased by $400. The transportation cost which was $800 per ton has not reached as high as $1200 for plastic, says operator of Bagmati Plastic Nanda Kishor Rathi.</span></span></span></span></p> <p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:12.0pt"><span style="font-family:"Arial Unicode MS"">According to Rathi, the increase in transportation cost has forced them to raise the price of plastic products by Rs 8 to Rs 10 per kilogram. Around 16 to 17 tons of plastic is imported in one container. The UAE, South Africa, Singapore and India supplies plastics to Nepal.</span></span></span></span></p> <p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:12.0pt"><span style="font-family:"Arial Unicode MS"">The transshipment cost from China has also skyrocketed. The cost of transporting goods using a 40-feet container was US$ 1600, which has not climbed to US$ 5400.</span></span></span></span></p> <p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:12.0pt"><span style="font-family:"Arial Unicode MS"">The importers have been forced to hold their goods due to the sudden hike in transportation cost.</span></span></span></span></p> <p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:12.0pt"><span style="font-family:"Arial Unicode MS"">Former chairman of Morang Chamber of Commerce Pawan Sharada says that the shipping companies have been increasing fare arbitrarily citing coronavirus pandemic. Goods that used to arrive within 15 to 20 days now take between 30 to 40 days to arrive. This has also resulted in shortage of raw materials in the country.</span></span></span></span></p> <p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:12.0pt"><span style="font-family:"Arial Unicode MS"">The impact has already been felt in the prices of edible oil, electronic goods, industrial raw materials among others. The price of edible oil has already increased by Rs 10 per litre while utensils made of iron, plastics as well as cement are also increasing.</span></span></span></span></p> <p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:12.0pt"><span style="font-family:"Arial Unicode MS"">According to Rathi, the increase in price of plastics has had a chain effect which is evident from the price hike of packaging materials. Once the price of packaging materials goes up, the prices of all industrial products also get hiked, says Rathi. </span></span></span></span></p> ', 'published' => true, 'created' => '2021-01-06', 'modified' => '2021-01-06', 'keywords' => '', 'description' => '', 'sortorder' => '12648', 'image' => '20210106023229_1609887800.Clipboard06.jpg', 'article_date' => '2021-01-06 14:31:48', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => false, 'user_id' => '34' ) ), (int) 6 => array( 'Article' => array( 'id' => '12900', 'article_category_id' => '1', 'title' => 'Stakeholders Protest Government’s Decision to Open Agriculture Sector for Foreign Investment', 'sub_title' => '', 'summary' => 'January 6: Entrepreneurs involved in the agriculture business have decided to move court against the government’s decision to allow foreign investment in Nepal’s agriculture sector.', '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 6: Entrepreneurs involved in the agriculture business have decided to move court against the government’s decision to allow foreign investment in Nepal’s agriculture 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"">The entrepreneurs are ready for a legal battle after the Ministry of Industry, Commerce and Supplies on Monday published the decision in the Nepal Gazette.</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"">Organising a joint press conference in the capital on Tuesday, Nepal Dairy Association, Dairy Industries Association, Central Dairy Cooperatives Association, Central Livestock and Animal Husbandry Cooperatives Association and Nepal Fishery Entrepreneurs Association informed that they will file a case against the government decision to open foreign investment in Nepal’s agriculture 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"">They claimed that the decision taken by the government is against the welfare of farmers because the private sector has invested billions of rupees in the agriculture sector. They also denounced the government for taking such vital decision without consulting with the stakeholders.</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"">They added that the government’s decision is likely to cause a major impact on Nepal’s economy.</span></span></span></span></p> <p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:"Arial Unicode MS"">Chairman of Dairy Industries Association Raj Kumar Dahal confirmed that the stakeholders have decided to challenge the government’s decision in court.</span></span></span></span></p> <p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:"Arial Unicode MS"">“We decided to move the court after consulting with legal practitioners,” said Dahal.</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 also warned that they will stage demonstrations at Maitighar Mandala on Thursday and extend the protest programmes across the country if the government does not withdraw 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"">The parliament had concluded on March 27, 2019 that the country should not open its agriculture sector for foreign investment. However, taking advantage of political instability at a time when the parliament has been dissolved, the government recently took a wrong decision, according to stakeholders.</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 private sector has invested Rs 4 billion in rearing bees, Rs 11 billion in fishery, Rs 30 billion in dairy industry, and 40 billion in poultry farming. The local investment in agriculture sector has provided employment to 1.5 million people, according to government records.</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"">Entrepreneurs involved in the agriculture sector have urged the government not to implement its decision arguing that foreign investment would destroy the country’s agriculture 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"">However, government officials say that the decision taken by the government will be beneficial for the farmers.</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"">Joint Secretary at the Ministry of Industry, Commerce and Supplies Urmila KC said opening foreign investment in the agriculture sector will diversify the sector and promote new technologies which in turn will benefit the farmers.</span></span></span></span></p> <p> </p> <p> </p> ', 'published' => true, 'created' => '2021-01-06', 'modified' => '2021-01-06', 'keywords' => '', 'description' => '', 'sortorder' => '12647', 'image' => '20210106123441_20201105020829_cover.jpg', 'article_date' => '2021-01-06 12:34:11', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 7 => array( 'Article' => array( 'id' => '12899', 'article_category_id' => '1', 'title' => 'Prices of Gold, Silver Up Again', 'sub_title' => '', 'summary' => 'anuary 6: The prices of gold and silver have increased in the domestic market of Nepal on Wednesday. ', '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 6: The prices of gold and silver have increased in the domestic market of Nepal on Wednesday. The price of gold increased by Rs 300 per tola (11 grams approx.), according to the Federation of Nepal Gold and Silver Dealers 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"">Fine gold is being traded for Rs 96,700 on Wednesday. The price of fine gold was Rs 96,400 on Tuesday.</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"">Similarly, the price of silver increased by Rs 5 on Wednesday, compared to the pervious day. Silver is being traded for Rs 1340 per 11 grams on Wednesday while the price of 11 grams of silver on Tuesday was Rs 1335.</span></span></span></span></p> <p> </p> ', 'published' => true, 'created' => '2021-01-06', 'modified' => '2021-01-06', 'keywords' => '', 'description' => '', 'sortorder' => '12646', 'image' => '20210106114926_Gold-Silver.jpg', 'article_date' => '2021-01-06 11:48:51', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => false, 'user_id' => '34' ) ), (int) 8 => array( 'Article' => array( 'id' => '12898', 'article_category_id' => '218', 'title' => 'NIFRA to Issue IPO from January 15', 'sub_title' => '', 'summary' => 'January 5: Nepal Infrastructure Bank Limited (NIFRA) has appointed NIBL Ace Capital Limited as its issue manager for the IPO issuance. ', 'content' => '<p><span style="font-size:20px"><span style="font-family:Calibri">January 5: Nepal Infrastructure Bank Limited (NIFRA) has appointed NIBL Ace Capital Limited as its issue manager for the IPO issuance. </span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri">The bank said in a statement that it is issuing IPO of 40 percent of its issued capital i.e. 80 million units worth Rs 8 billion. </span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri">The bank will be issuing its IPO from January 15 to 19. The bank claimed that it is the biggest IPO in the history of Nepal’s capital market.</span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri">NIFRA said its paid-up capital will be Rs 20 billion after the issuance of IPO. Out of the total paid-up capital of the bank, Rs 12 billion has been collected from the promoter shareholders while Rs 8 billion will be collected from the issuance of IPO.</span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri">Nepal Infrastructure Bank Limited (NIFRA) has been set up by Banks and Financial Institutions (BFIs), Life and Non-life Insurance companies and other leading entities of the private sector in joint participation with the Government of Nepal. </span></span></p> <p> </p> ', 'published' => true, 'created' => '2021-01-05', 'modified' => '2021-01-05', 'keywords' => '', 'description' => '', 'sortorder' => '12645', 'image' => '20210105042837_20190101042956_IPO.jpg', 'article_date' => '2021-01-05 16:28:00', 'homepage' => false, 'breaking_news' => false, 'main_news' => false, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 9 => array( 'Article' => array( 'id' => '12896', 'article_category_id' => '1', 'title' => 'Government Unable to Meet its Revenue Collection Target', 'sub_title' => '', 'summary' => 'January 5: The government faces an uphill battle to meet the revenue collection target set for the current fiscal year.', '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 5: </span></span><span style="font-size:14.0pt"><span style="font-family:"Arial Unicode MS"">The government faces an uphill battle to meet the revenue collection target set for the current 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"">The government is unlikely to meet its target due to the obstruction in the northern border and the meltdown of economic activities due to Covid-19 pandemic.</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 the Ministry of Finance, the government is short of Rs 2 billion in meeting the target of customs duty collection as of mid-December. Likewise, it is lagging behind by Rs 25 billion in tax collection and by Rs 12.18 billion in non-tax collection compared to its target.</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"">As of mid-December, the government has collected Rs 39 billion less revenue that its target.</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"">Officials at the ministry were expecting an increase in import during the current crisis but instead the import of certain goods declined. That also posed a challenge for the government to meet its revenue collection target.</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"">Finance ministry officials say that the government’s failure to expedite development works and construction led to a decline in import of construction materials, equipment and petroleum products. This in turn resulted in low revenue collection.</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 government is under pressure for a mid-term review of its revenue collection target. It needs to set a new target and a new approach to meet the target, according to officials at the ministry. </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"">“It is still not certain when the obstruction in northern border and the Covid-19 crisis will end. This has directly impacted revenue collection,” said chief of the Revenue Department Rameshwar Dangal.</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 him, the government has not been able to meet the target of revenue collection in all fronts including customs duty, tax and non-tax. </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"">Dangal further said that the collection of taxes from the tourism industry and educational institutions has been completely halted for the time being. Likewise, revenue collection from the customs points of Rasuwagadhi and Tatopani has been affected since the start of the current fiscal year. Hundreds of containers have been stranded across the border while only a limited number of containers are allowed to enter Nepal on a daily basis. Finance Ministry has requested the Ministry of Foreign Affairs and the Ministry of Industry, Commerce and Supplies to make efforts to reopen the northern border but the uncertainty regarding reopening the border still persists.</span></span></span></span></p> <p> </p> ', 'published' => true, 'created' => '2021-01-05', 'modified' => '2021-01-05', 'keywords' => '', 'description' => '', 'sortorder' => '12644', 'image' => '20210105024513_20200327032654_5003_finance-ministy.jpg', 'article_date' => '2021-01-05 14:44:38', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 10 => array( 'Article' => array( 'id' => '12897', 'article_category_id' => '1', 'title' => 'Revenue Collection from Petroleum Products Up Despite a Decline in Import ', 'sub_title' => '', 'summary' => 'January 5: The import of fuel has declined this year compared to last year. However, the revenue collection from the import of fuel has increased this year.', '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 5: The import of fuel has declined this year compared to last year. However, the revenue collection from the import of fuel has increased this 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"">The revenue collection from diesel and petrol increased despite less import because the government increased the customs duty on these to products, that are the major source of government income.</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 the Birgunj Customs Office from where maximum amount of petroleum products enter the country, the import of both diesel and petrol has declined in the first eight months of the current fiscal year. The import of diesel and petrol is less this year compared to 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"">But the customs duty from petroleum products has gone up despite low import compared to last year, informed Mahesh Acharya, chief of Birgunj Customs Office. He said that the revenue collection increased after the government raised customs duty on petrol and diesel.</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 government has fixed a customs duty of Rs 12,000 for one kiloliter of diesel. Last year, the customs duty for the same amount of diesel was only Rs 2,000. Similarly, the government increased the customs duty on petrol from Rs 15,200 per kiloliter to Rs 25,200 per kiloliter, according to Acharya.</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 customs duty on diesel and petrol have been increased this year compared to last fiscal year. This has resulted in more revenue collection despite a decrease in volume of import,” said Acharya.</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 total of 361,000 kiloliters of diesel worth Rs 15.96 billion were imported through Birgunj customs in the first five months of the current fiscal year. During the corresponding period of last fiscal year, 383,000 kiloliters of diesel worth Rs 24.68 billion were imported through the same customs point.</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"">While the import of diesel decreased by six percent, the customs duty increased by 67 percent.</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"">Birgunj Customs collected Rs 7.9 billion in the first eight months of last fiscal year from the import of diesel. Revenue collection from diesel during the corresponding period of the current fiscal year was Rs 11.83 billion. </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 import of petrol has also declined this year to 129,000 KL from 155,000 KL last year. But the revenue collection from petrol has increased by Rs 1 billion.</span></span></span></span></p> <p> </p> ', 'published' => true, 'created' => '2021-01-05', 'modified' => '2021-01-05', 'keywords' => '', 'description' => '', 'sortorder' => '12643', 'image' => '20210105041736_1609803215.Clipboard06a.jpg', 'article_date' => '2021-01-05 16:16:58', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 11 => array( 'Article' => array( 'id' => '12895', 'article_category_id' => '1', 'title' => 'Capacity of Dhalkebar Substation Increased with Additional Transformer', 'sub_title' => '', 'summary' => 'January 5: Nepal Electricity Authority (NEA) has installed an additional transformer of 315 MVA capacity at its Dhalkebar substation, the largest substation in the country.', 'content' => '<p><span style="font-size:12pt"><span style="font-family:Cambria"><span style="font-size:14.0pt"><span style="font-family:Calibri">January 5: Nepal Electricity Authority (NEA) has installed an additional transformer of 315 MVA capacity at its Dhalkebar substation, the largest substation in the country. NEA installed the transformer to upgrade the substation.</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:Calibri">The newly added transformer has been brought into operation from Monday, January 4. Now the total capacity of the transformers of the substation is 635 MVA. Earlier, the substation had 2 transformers of 220 kV and 132 kV with a total capacity of 320 MVA. NEA spokesperson Madan Timsina informed that work is also underway to add another transformer at the substation.</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:Calibri">With the addition of transformers, an additional 100 MW of electricity can be imported from India. Currently, 250 MW of electricity can be imported through the substation. </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:Calibri">Electricity is being imported to the substation through Dhalkebar-Muzaffarpur transmission line.</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:Calibri">A power purchase agreement (PPA) was signed with NTPC Vidyut Nigam Limited (NVVN) of India to bring electricity using the transmission line.</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:Calibri">According to the PPA, NEA can import 250 MW of electricity from July to November and 350 MW from December to April through the same transmission line. </span></span></span></span></p> <p> </p> ', 'published' => true, 'created' => '2021-01-05', 'modified' => '2021-01-05', 'keywords' => '', 'description' => '', 'sortorder' => '12642', 'image' => '20210105010101_20200818043659_1597700431.Clipboard08.jpg', 'article_date' => '2021-01-05 13:00:28', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 12 => array( 'Article' => array( 'id' => '12894', 'article_category_id' => '1', 'title' => 'Chemical Fertilizer from Bangladesh to Arrive after 1 Month', 'sub_title' => '', 'summary' => 'January 5: Chemical fertilizer which the government intends to bring from Bangladesh under a G2G deal will take one more month to arrive in the country.', 'content' => '<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:16.0pt"><span style="font-family:"Arial Unicode MS"">January 5: Chemical fertilizer which the government intends to bring from Bangladesh under a G2G deal will take one more month to arrive in the country.</span></span></span></span></p> <p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:16.0pt"><span style="font-family:"Arial Unicode MS"">The Agriculture Inputs Company Limited has completed all the processes to import 50,000 metric tons of urea from Bangladesh and has already written a formal letter to the neighbouring country in this regard. Bangladesh approved the letter on Monday (January 4) eighteen days after the two countries signed the agreement. This has paved way for Nepal to open a Letter of Credit (LC) to procure the fertilizer.</span></span></span></span></p> <p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:16.0pt"><span style="font-family:"Arial Unicode MS"">The Agriculture Inputs Company, which has been handed over the responsibility of importing the fertilizer, informed that it will open LC by coming Wednesday (January 6).</span></span></span></span></p> <p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:16.0pt"><span style="font-family:"Arial Unicode MS"">According to Bishnu Pokharel, chief of the purchase division of the company, Bangladesh Chemical Industries Corporation will start supplying the fertilizers ten days after Nepal opens the LC.</span></span></span></span></p> <p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:16.0pt"><span style="font-family:"Arial Unicode MS"">It will then take around one more month for the fertilizer to arrive in Nepal.</span></span></span></span></p> <p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:16.0pt"><span style="font-family:"Arial Unicode MS"">Spokesperson at the Ministry of Agriculture and Livestock Development Dr Shree Ram Ghimire informed that the procurement process got delayed due to the delay in responding to the letter by Bangladesh.</span></span></span></span></p> <p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:16.0pt"><span style="font-family:"Arial Unicode MS"">Nepal had signed an agreement for the procurement of fertilizer with Bangladesh on December 17.</span></span></span></span></p> <p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:16.0pt"><span style="font-family:"Arial Unicode MS"">The process was also delayed because Bangladesh decided to supply the fertilizer after procuring it from a private company instead of sending its stock. However, Nepal had signed the agreement to purchase fertilizer produced by the state-owned company of Bangladesh.</span></span></span></span></p> <p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:16.0pt"><span style="font-family:"Arial Unicode MS"">The Agriculture Inputs Company Limited informed that Bangladesh too had to go through the process of opening an LC, due to which the delivery got delayed.</span></span></span></span></p> <p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:16.0pt"><span style="font-family:"Arial Unicode MS"">The Agriculture Inputs Company Limited says that the delay in import will not cause any problem as it has adequate stock of urea at the moment. The company said it has a stock of 8,000 metric tons of urea, 8,000 metric tons of DAP and 9,000 metric tons of Potassium at present.</span></span></span></span></p> <p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:16.0pt"><span style="font-family:"Arial Unicode MS"">Similarly, the Salt Trading Corporation has a stock of 22,000 metric tons of urea, 13,000 metric tons of DAP and 5,000 metric tons of Potassium.</span></span></span></span></p> <p> </p> ', 'published' => true, 'created' => '2021-01-05', 'modified' => '2021-01-05', 'keywords' => '', 'description' => '', 'sortorder' => '12641', 'image' => '20210105121301_20200817122726_1597613093.Clipboard02.jpg', 'article_date' => '2021-01-05 12:12:23', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 13 => array( 'Article' => array( 'id' => '12893', 'article_category_id' => '266', 'title' => 'Nepal SBI Bank Customers to get Discount at Hotel Barahi', 'sub_title' => '', 'summary' => 'January 1: Nepal SBI Bank has signed a Memorandum of Understanding (MoU) with Hotel Barahi, Pokhara to provide discount on various services provided by the hotel. ', 'content' => '<p><span style="font-size:11pt"><span style="font-family:Calibri"><span style="font-family:Arial">January 1: Nepal SBI Bank has signed a Memorandum of Understanding (MoU) with </span><span style="font-family:Arial">Hotel Barahi, Pokhara</span><span style="font-family:Arial"> to provide discount on various services</span><span style="font-family:Arial"> provided by the hotel</span><span style="font-family:Arial">. </span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri"><span style="font-family:Arial">According to the bank, its customers can avail the benefits </span><span style="font-family:Arial">by</span><span style="font-family:Arial"> using </span><span style="font-family:Arial">NSBL</span><span style="font-family:Arial"> debit cards at </span><span style="font-family:Arial">Hotel Barahi</span><span style="font-family:Arial">.</span> </span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri"><span style="font-family:Arial">The MoU was signed by Chhapi Raj Pant, Chief Business Development Officer of NSBL, and Buddhi Man Sharma, Operation Manager of Hotel Barahi.</span></span></span></p> ', 'published' => true, 'created' => '2021-01-04', 'modified' => '2021-01-04', 'keywords' => '', 'description' => '', 'sortorder' => '12640', 'image' => '20210104015548_My Effect.jpg', 'article_date' => '2021-01-04 13:55:09', 'homepage' => false, 'breaking_news' => false, 'main_news' => false, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 14 => array( 'Article' => array( 'id' => '12890', 'article_category_id' => '1', 'title' => 'BFIs Submit Bids worth Billions in Response to NRB’s Mopping Initiative', 'sub_title' => '', 'summary' => 'January 4: Banks and financial institutes (BFIs) have made bids worth billions of rupees in compliance to the financial instruments issued by the central bank to mop excess of liquidity from the banking system.', 'content' => '<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt">January 4: Banks and financial institutes (BFIs) have made bids worth billions of rupees in compliance to the financial instruments issued by the central bank to mop excess of liquidity from the banking system.</span></span></span></p> <p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt">Nepal Rastra Bank (NRB) has issued short-term reverse repo of Rs 110 billion four times in the current fiscal year. BFIs have made biddings of Rs 278.25 billion for the reverse repo.</span></span></span></p> <p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt">The central bank has also issued deposit collection instruments worth Rs 160 billion with maturity period of 28 days for 5 times as of December 31, 2020 to mop excess of liquidity. NRB has received biddings of Rs 333.2 billion for those instruments.</span></span></span></p> <p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt">Of late, banks have become willing to send their money to the central bank even at a low rate of interest. There is excess of liquidity in the banking system due to low demand for loans at present. Instead of stockpiling the money, BFIs are willing to transfer the cash to the central bank reserve in return for nominal interest.</span></span></span></p> <p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt">Banks have made submitted bids to the central bank expressing their quotation of maximum interest rate of 1.5411 percent and a minimum of 0.2060 percent for the reverse repo with maturity period of one week.</span></span></span></p> <p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt">The central bank has said that excess of liquidity in the market can result in low interest rate which in turn will deter savings, and may also cause inflation.</span></span></span></p> <p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt">In order to avoid such a situation, the central bank has issued financial instruments to mop excess of liquidity.</span></span></span></p> <p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt">At present, the banking system has excess liquidity of Rs 176 billion, according to the central bank. Stating that the refinancing provision has resulted in excess liquidity, NRB Spokesperson Dr Gunakar Bhatta said that the central bank has already mopped Rs 60 billion from banks.</span></span></span></p> <p> </p> ', 'published' => true, 'created' => '2021-01-04', 'modified' => '2021-01-04', 'keywords' => '', 'description' => '', 'sortorder' => '12639', 'image' => '20210104113755_1609629473.Clipboard07.jpg', 'article_date' => '2021-01-04 11:37:24', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ) ) $current_user = null $logged_in = falseinclude - APP/View/Elements/side_bar.ctp, line 60 View::_evaluate() - CORE/Cake/View/View.php, line 971 View::_render() - CORE/Cake/View/View.php, line 933 View::_renderElement() - CORE/Cake/View/View.php, line 1224 View::element() - CORE/Cake/View/View.php, line 418 include - APP/View/Articles/index.ctp, line 157 View::_evaluate() - CORE/Cake/View/View.php, line 971 View::_render() - CORE/Cake/View/View.php, line 933 View::render() - CORE/Cake/View/View.php, line 473 Controller::render() - CORE/Cake/Controller/Controller.php, line 968 Dispatcher::_invoke() - CORE/Cake/Routing/Dispatcher.php, line 200 Dispatcher::dispatch() - CORE/Cake/Routing/Dispatcher.php, line 167 [main] - APP/webroot/index.php, line 117
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' => '12906', 'article_category_id' => '1', 'title' => 'Pokhara Int’l Airport to start operation before Gautam Buddha Int’l Airport', 'sub_title' => '', 'summary' => 'January 7: At a time when the physical progress of national pride projects has not been satisfactory, the Pokhara International Airport which is under construction in Pokhara, Kaski, is likely to be completed within the deadline.', 'content' => '<p><span style="font-size:12pt"><span style="font-family:Cambria"><span style="font-size:14.0pt">January 7: At a time when the physical progress of national pride projects has not been satisfactory, the Pokhara International Airport which is under construction in Pokhara, Kaski, is likely to be completed within the deadline.<br /> Looking at the ongoing work progress, it is likely that the Pokhara International Airport will start its operation before Bhairahawa International Airport.<br /> According to the airport project office, the new international airport in Pokhara has made 68 percent physical progress while the financial progress is about 51 percent. The airport project has informed that the financial progress is below the target, and contractors will receive the payments after completing the specified work.<br /> According to the project, the construction work of 2,500 meters runway, ATC tower, seven buildings, and a hangar has been completed. Finishing work of these infrastructures is in progress.<br /> The only thing left to do is to install the equipment, including lighting at the airport. More than 50 percent of the equipment has been connected at the airport, and the remaining will arrive shortly.<br /> The construction of the airport will be completed within six months after the arrival of the equipment, informed Vinesh Munkarmi, chief engineer of the airport project. "If there was no problem with Covid-19, it could have been completed sooner. Due to Covid-19, the work had to be completely stopped for about 3 months," he added.<br /> Chinese workers who had gone to their country to celebrate the New Year 2020 were stranded there because of coronavirus. "Now they are coming in large numbers," he said. </span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:Cambria"><span style="font-size:14.0pt">Connection work will begin as soon as they arrive. Munkarmi informed that technicians need to come from China, Europe, and Australia to complete the technical works. The work is expected to be completed within June 2021.</span></span></span></p> <p> </p> <p> </p> ', 'published' => true, 'created' => '2021-01-07', 'modified' => '2021-01-07', 'keywords' => '', 'description' => '', 'sortorder' => '12653', 'image' => '20210107021343_1609974676.Clipboard19.jpg', 'article_date' => '2021-01-07 14:12:41', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 1 => array( 'Article' => array( 'id' => '12905', 'article_category_id' => '1', 'title' => 'ICP ‘Lacks Infrastructure’ to Facilitate Entry of Bulk Cargo', 'sub_title' => '', 'summary' => 'January 7: The government had a plan to integrate all the customs offices at the Integrated Check Post (ICP) of Birgunj, once it came into operation. ', '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 7: The government had a plan to integrate all the customs offices at the Integrated Check Post (ICP) of Birgunj, once it came into operation. It has been three years since the ICP has been used for import and export of goods but the government has not fulfilled its plan.</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"">Birgunj currently has the ICP, Birgunj Dry Port and Inarwa (Birgunj) Customs for the import and export of goods. The government was planning to convert the Birgunj Customs into passenger transit point after the ICP came into operation. It has been once year since the government decided to integrate the Dry Port with the ICP. However, the decision is yet to materialize due to poor infrastructure and ambiguous instructions.</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 importers involved in bringing in bulk cargo from Birgunj Customs have demanded a separate lane at the ICP. At present, most of the bulk cargo enter Nepal from India’s Raxaul through the friendship bridge.</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"">General Secretary of Birgunj Chamber of Commerce Madhav Rajpal says that the decision to integrate the Birgunj Customs with the ICP cannot take place unless the government makes a provision to transfer the cargo brought from Raxaul through train to the ICP.</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"">Clinker, gypsum, coal, salt, iron and some amount of petroleum products enter Nepal through Raxaul. Birgunj Customs informed that a total of 51 racks of goods entered Nepal through Raxaul in December.</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"">Kamal Gyawali, chief of Nepal Intermodal Transport Development Committee (NTDC), which operates the ICP, informed that the ICP has started works to expand the infrastructures like parking lot and warehouse but they do not yet have any plan to have a separate lane for bulk cargo. </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 ICP has five lanes for import and export. Customs officer Ramesh Sukmani says that the problem has surfaced because the same lane is used for entry and exit of goods. Sukmani says that the plan to integrate Birgunj Customs with the ICP could not take place due to lack of adequate infrastructure.</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 foreign trade has already been shifted from to the ICP from the Birgunj Customs. However, the entry of bulk cargo is still taking place from the old customs point,” says Sukmani.</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 ICP lacks adequate infrastructure to allow the entry of bulk cargo,” he added.</span></span></span></span></p> <p> </p> ', 'published' => true, 'created' => '2021-01-07', 'modified' => '2021-01-07', 'keywords' => '', 'description' => '', 'sortorder' => '12652', 'image' => '20210107010829_1609973629.Clipboard16.jpg', 'article_date' => '2021-01-07 13:07:54', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 2 => array( 'Article' => array( 'id' => '12904', 'article_category_id' => '1', 'title' => 'Price of Chicken Increases by 54 Percent', 'sub_title' => '', 'summary' => 'January 7: The price of broiler chicken has increased by 54 percent after the government lifted lockdown in the country. ', '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 7: The price of broiler chicken has increased by 54 percent after the government lifted lockdown in the country. The price hike is attributed to the increase in consumption after hotels, restaurants and party palaces started reopening post-lockdown.</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 the entrepreneurs involved in meat business in Nepal, the price of chicken was Rs 240 per kilogram in early September. The current price of chicken is Rs 370 per kg.</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 consumption of meat had dropped to 30 percent during the lockdown period. Now the consumption has increased to 60 percent compared to normal times, says Jung Bahadur BC, chairman of the Meat Entrepreneurs Association of Nepal.</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"">BC added that the price of chicken has also increased because the production is low in winter season. As farmers have started producing less amount of chichen, Nepal Hatchery Industry Association has also lowered the production of eggs, added BC.</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"">During normal circumstances, the hatchery industry of Nepal used to produce 4.2 million chicks but now the production is down to 3.2 million.</span></span></span></span></p> <p> </p> ', 'published' => true, 'created' => '2021-01-07', 'modified' => '2021-01-07', 'keywords' => '', 'description' => '', 'sortorder' => '12651', 'image' => '20210107122731_Crispy-Fried-Chicken_EXPS_FRBZ19_6445_C01_31_3b-2 2.jpg', 'article_date' => '2021-01-07 12:26:58', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => false, 'user_id' => '34' ) ), (int) 3 => array( 'Article' => array( 'id' => '12903', 'article_category_id' => '1', 'title' => 'Government on High Alert following Outbreak of Bird Flu in India', 'sub_title' => '', 'summary' => 'January 7: The government has tightened the border with India after the southern neighbor reported deaths in poultry farms since last week due to bird flu.', '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 7: The government has tightened the border with India after the southern neighbor reported deaths in poultry farms since last week due to bird flu. </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 Ministry of Agriculture and Livestock Development informed that they have decided to step up measures in the border points with India to prevent an outbreak of the disease here in Nepal.</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 ministry has instructed the District Livestock Offices in terai districts to adopt safety measures to avoid the disease from spreading, informed Dr Shree Ram Ghimire, spokesperson at the ministry.</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 Dr Ghimire, the ministry has asked the district offices and local units to inform it if they require additional manpower and machineries to curb the possible spread of the disease.</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 Department of Livestock has also started making preparations to prevent the disease from entering the country and to minimize its impact if in case the disease surfaces in Nepal.</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"">Information Officer at the department Dr Chandra Dhakal informed that they will hold discussions on Thursday (January 7) to seek measures in order to avoid the disease from entering the country.</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"">Bird flu has affected states like Himanchal Pradesh in the north to Kerala in the south as well as other areas like Indore, Haryana. The state governments have issued high alert in the affected areas and adopted emergency measures to curb the disease.</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 the BBC, thousands of birds have started dying in India due to bird flu. Shops selling poultry products have closed in some districts. Authorities have reportedly banned the sale of eggs as well.</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"">BBC further reported that more than 2,400 migratory ducks that arrived in Himanchal Pradesh from Siberia and Mongolia have been found dead. Meanwhile, authorities have culled 12,000 ducks and 36,000 birds of other species in Kerala state.</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 had first reported bird flu in 2009 while the country had to bear massive loss in 2013. Altogether 201 poultry farms in Kathmandu, Chitwan, Dhadhing, Jhapa and Kailali were affected in 2013.</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"">Officials at the agriculture ministry claim that the disease will not spread easily in Nepal. However, authorities are worried because of the close proximity with India. They suspect people in the border area might smuggle chicken from India taking advantage of the porous border and the low price of chicken in India.</span></span></span></span></p> ', 'published' => true, 'created' => '2021-01-07', 'modified' => '2021-01-07', 'keywords' => '', 'description' => '', 'sortorder' => '12650', 'image' => '20210107114529_1609973535.Clipboard17.jpg', 'article_date' => '2021-01-07 11:44:58', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => false, 'user_id' => '34' ) ), (int) 4 => array( 'Article' => array( 'id' => '12902', 'article_category_id' => '1', 'title' => 'Import of Generators up by 350 Percent ', 'sub_title' => '', 'summary' => 'January 6: While the increasing problem of power cuts in different parts of the country has given a glimpse of load shedding, the import of generators used as an alternative to electricity has also skyrocketed. ', 'content' => '<p><span style="font-size:11pt"><span style="font-family:Calibri"><span style="font-size:14.0pt"><span style="font-family:"Times New Roman"">January 6: While the increasing problem of power cuts in different parts of the country has given a glimpse of load shedding, the import of generators used as an alternative to electricity has also skyrocketed. </span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri"><span style="font-size:14.0pt"><span style="font-family:"Times New Roman"">According to the data released by the Department of Customs, the import of generators has increased by 350 percent in the first five months of the current fiscal year as compared to the previous year. </span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri"><span style="font-size:14.0pt"><span style="font-family:"Times New Roman"">In the first five months of the current fiscal year, a total of 707 units of generators have been imported into the country. Last year, only 154 units of generators were imported. </span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri"><span style="font-size:14.0pt"><span style="font-family:"Times New Roman"">During this period, the import of battery has also increased by 77 percent. However, the import of inverters seems to have declined. According to the department, the import of inverters had come down from 56 units to 50 units last year, but only 29 units have been imported this year. </span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri"><span style="font-size:14.0pt"><span style="font-family:"Times New Roman"">Director General of the Department, Suman Dahal, confirmed that the import of generators has increased. He said, "Whether it is due to rumors of load shedding or other reasons, the import of generators has increased compared to last year." </span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri"><span style="font-size:14.0pt"><span style="font-family:"Times New Roman"">The Nepal Electricity Authority (NEA) has issued a statement twice saying that there will be no load shedding as the public started doubting if there would be load shedding like before. </span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri"><span style="font-size:14.0pt"><span style="font-family:"Times New Roman"">Last week, the NEA had issued a statement informing that there will be power cuts in some places of Lalitpur to reduce power load. However, it issued another statement later saying that power cuts due to technical problems, repair works and due to the winter season is a normal phenomena while there isn’t any plan for load shedding.</span></span></span></span></p> <p> </p> ', 'published' => true, 'created' => '2021-01-06', 'modified' => '2021-01-06', 'keywords' => '', 'description' => '', 'sortorder' => '12649', 'image' => '20210106034059_10k2.jpg', 'article_date' => '2021-01-06 15:40:27', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 5 => array( 'Article' => array( 'id' => '12901', 'article_category_id' => '1', 'title' => 'Industrialists Warn of Chain Effect of Rise in Transportation Cost ', 'sub_title' => 'Industrialists warn of chain effect of price hike', 'summary' => 'January 6: The rise in transportation cost of daily essentials and raw materials coming from third countries is expected to increase inflation in the domestic market of Nepal.', 'content' => '<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:12.0pt"><span style="font-family:"Arial Unicode MS"">January 6: The rise in transportation cost of daily essentials and raw materials coming from third countries is expected to increase inflation in the domestic market of Nepal.</span></span></span></span></p> <p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:12.0pt"><span style="font-family:"Arial Unicode MS"">Industrialists say that the hike in transportation cost of mustard and soybean oil as well as plastic, coal, iron and other raw materials required for the industrial sector is certain to impact the local market of the country.</span></span></span></span></p> <p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:12.0pt"><span style="font-family:"Arial Unicode MS"">The transportation cost of one ton of plastic has been increased by $400. The transportation cost which was $800 per ton has not reached as high as $1200 for plastic, says operator of Bagmati Plastic Nanda Kishor Rathi.</span></span></span></span></p> <p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:12.0pt"><span style="font-family:"Arial Unicode MS"">According to Rathi, the increase in transportation cost has forced them to raise the price of plastic products by Rs 8 to Rs 10 per kilogram. Around 16 to 17 tons of plastic is imported in one container. The UAE, South Africa, Singapore and India supplies plastics to Nepal.</span></span></span></span></p> <p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:12.0pt"><span style="font-family:"Arial Unicode MS"">The transshipment cost from China has also skyrocketed. The cost of transporting goods using a 40-feet container was US$ 1600, which has not climbed to US$ 5400.</span></span></span></span></p> <p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:12.0pt"><span style="font-family:"Arial Unicode MS"">The importers have been forced to hold their goods due to the sudden hike in transportation cost.</span></span></span></span></p> <p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:12.0pt"><span style="font-family:"Arial Unicode MS"">Former chairman of Morang Chamber of Commerce Pawan Sharada says that the shipping companies have been increasing fare arbitrarily citing coronavirus pandemic. Goods that used to arrive within 15 to 20 days now take between 30 to 40 days to arrive. This has also resulted in shortage of raw materials in the country.</span></span></span></span></p> <p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:12.0pt"><span style="font-family:"Arial Unicode MS"">The impact has already been felt in the prices of edible oil, electronic goods, industrial raw materials among others. The price of edible oil has already increased by Rs 10 per litre while utensils made of iron, plastics as well as cement are also increasing.</span></span></span></span></p> <p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:12.0pt"><span style="font-family:"Arial Unicode MS"">According to Rathi, the increase in price of plastics has had a chain effect which is evident from the price hike of packaging materials. Once the price of packaging materials goes up, the prices of all industrial products also get hiked, says Rathi. </span></span></span></span></p> ', 'published' => true, 'created' => '2021-01-06', 'modified' => '2021-01-06', 'keywords' => '', 'description' => '', 'sortorder' => '12648', 'image' => '20210106023229_1609887800.Clipboard06.jpg', 'article_date' => '2021-01-06 14:31:48', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => false, 'user_id' => '34' ) ), (int) 6 => array( 'Article' => array( 'id' => '12900', 'article_category_id' => '1', 'title' => 'Stakeholders Protest Government’s Decision to Open Agriculture Sector for Foreign Investment', 'sub_title' => '', 'summary' => 'January 6: Entrepreneurs involved in the agriculture business have decided to move court against the government’s decision to allow foreign investment in Nepal’s agriculture sector.', '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 6: Entrepreneurs involved in the agriculture business have decided to move court against the government’s decision to allow foreign investment in Nepal’s agriculture 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"">The entrepreneurs are ready for a legal battle after the Ministry of Industry, Commerce and Supplies on Monday published the decision in the Nepal Gazette.</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"">Organising a joint press conference in the capital on Tuesday, Nepal Dairy Association, Dairy Industries Association, Central Dairy Cooperatives Association, Central Livestock and Animal Husbandry Cooperatives Association and Nepal Fishery Entrepreneurs Association informed that they will file a case against the government decision to open foreign investment in Nepal’s agriculture 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"">They claimed that the decision taken by the government is against the welfare of farmers because the private sector has invested billions of rupees in the agriculture sector. They also denounced the government for taking such vital decision without consulting with the stakeholders.</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"">They added that the government’s decision is likely to cause a major impact on Nepal’s economy.</span></span></span></span></p> <p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:"Arial Unicode MS"">Chairman of Dairy Industries Association Raj Kumar Dahal confirmed that the stakeholders have decided to challenge the government’s decision in court.</span></span></span></span></p> <p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:"Arial Unicode MS"">“We decided to move the court after consulting with legal practitioners,” said Dahal.</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 also warned that they will stage demonstrations at Maitighar Mandala on Thursday and extend the protest programmes across the country if the government does not withdraw 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"">The parliament had concluded on March 27, 2019 that the country should not open its agriculture sector for foreign investment. However, taking advantage of political instability at a time when the parliament has been dissolved, the government recently took a wrong decision, according to stakeholders.</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 private sector has invested Rs 4 billion in rearing bees, Rs 11 billion in fishery, Rs 30 billion in dairy industry, and 40 billion in poultry farming. The local investment in agriculture sector has provided employment to 1.5 million people, according to government records.</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"">Entrepreneurs involved in the agriculture sector have urged the government not to implement its decision arguing that foreign investment would destroy the country’s agriculture 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"">However, government officials say that the decision taken by the government will be beneficial for the farmers.</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"">Joint Secretary at the Ministry of Industry, Commerce and Supplies Urmila KC said opening foreign investment in the agriculture sector will diversify the sector and promote new technologies which in turn will benefit the farmers.</span></span></span></span></p> <p> </p> <p> </p> ', 'published' => true, 'created' => '2021-01-06', 'modified' => '2021-01-06', 'keywords' => '', 'description' => '', 'sortorder' => '12647', 'image' => '20210106123441_20201105020829_cover.jpg', 'article_date' => '2021-01-06 12:34:11', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 7 => array( 'Article' => array( 'id' => '12899', 'article_category_id' => '1', 'title' => 'Prices of Gold, Silver Up Again', 'sub_title' => '', 'summary' => 'anuary 6: The prices of gold and silver have increased in the domestic market of Nepal on Wednesday. ', '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 6: The prices of gold and silver have increased in the domestic market of Nepal on Wednesday. The price of gold increased by Rs 300 per tola (11 grams approx.), according to the Federation of Nepal Gold and Silver Dealers 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"">Fine gold is being traded for Rs 96,700 on Wednesday. The price of fine gold was Rs 96,400 on Tuesday.</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"">Similarly, the price of silver increased by Rs 5 on Wednesday, compared to the pervious day. Silver is being traded for Rs 1340 per 11 grams on Wednesday while the price of 11 grams of silver on Tuesday was Rs 1335.</span></span></span></span></p> <p> </p> ', 'published' => true, 'created' => '2021-01-06', 'modified' => '2021-01-06', 'keywords' => '', 'description' => '', 'sortorder' => '12646', 'image' => '20210106114926_Gold-Silver.jpg', 'article_date' => '2021-01-06 11:48:51', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => false, 'user_id' => '34' ) ), (int) 8 => array( 'Article' => array( 'id' => '12898', 'article_category_id' => '218', 'title' => 'NIFRA to Issue IPO from January 15', 'sub_title' => '', 'summary' => 'January 5: Nepal Infrastructure Bank Limited (NIFRA) has appointed NIBL Ace Capital Limited as its issue manager for the IPO issuance. ', 'content' => '<p><span style="font-size:20px"><span style="font-family:Calibri">January 5: Nepal Infrastructure Bank Limited (NIFRA) has appointed NIBL Ace Capital Limited as its issue manager for the IPO issuance. </span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri">The bank said in a statement that it is issuing IPO of 40 percent of its issued capital i.e. 80 million units worth Rs 8 billion. </span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri">The bank will be issuing its IPO from January 15 to 19. The bank claimed that it is the biggest IPO in the history of Nepal’s capital market.</span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri">NIFRA said its paid-up capital will be Rs 20 billion after the issuance of IPO. Out of the total paid-up capital of the bank, Rs 12 billion has been collected from the promoter shareholders while Rs 8 billion will be collected from the issuance of IPO.</span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri">Nepal Infrastructure Bank Limited (NIFRA) has been set up by Banks and Financial Institutions (BFIs), Life and Non-life Insurance companies and other leading entities of the private sector in joint participation with the Government of Nepal. </span></span></p> <p> </p> ', 'published' => true, 'created' => '2021-01-05', 'modified' => '2021-01-05', 'keywords' => '', 'description' => '', 'sortorder' => '12645', 'image' => '20210105042837_20190101042956_IPO.jpg', 'article_date' => '2021-01-05 16:28:00', 'homepage' => false, 'breaking_news' => false, 'main_news' => false, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 9 => array( 'Article' => array( 'id' => '12896', 'article_category_id' => '1', 'title' => 'Government Unable to Meet its Revenue Collection Target', 'sub_title' => '', 'summary' => 'January 5: The government faces an uphill battle to meet the revenue collection target set for the current fiscal year.', '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 5: </span></span><span style="font-size:14.0pt"><span style="font-family:"Arial Unicode MS"">The government faces an uphill battle to meet the revenue collection target set for the current 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"">The government is unlikely to meet its target due to the obstruction in the northern border and the meltdown of economic activities due to Covid-19 pandemic.</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 the Ministry of Finance, the government is short of Rs 2 billion in meeting the target of customs duty collection as of mid-December. Likewise, it is lagging behind by Rs 25 billion in tax collection and by Rs 12.18 billion in non-tax collection compared to its target.</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"">As of mid-December, the government has collected Rs 39 billion less revenue that its target.</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"">Officials at the ministry were expecting an increase in import during the current crisis but instead the import of certain goods declined. That also posed a challenge for the government to meet its revenue collection target.</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"">Finance ministry officials say that the government’s failure to expedite development works and construction led to a decline in import of construction materials, equipment and petroleum products. This in turn resulted in low revenue collection.</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 government is under pressure for a mid-term review of its revenue collection target. It needs to set a new target and a new approach to meet the target, according to officials at the ministry. </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"">“It is still not certain when the obstruction in northern border and the Covid-19 crisis will end. This has directly impacted revenue collection,” said chief of the Revenue Department Rameshwar Dangal.</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 him, the government has not been able to meet the target of revenue collection in all fronts including customs duty, tax and non-tax. </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"">Dangal further said that the collection of taxes from the tourism industry and educational institutions has been completely halted for the time being. Likewise, revenue collection from the customs points of Rasuwagadhi and Tatopani has been affected since the start of the current fiscal year. Hundreds of containers have been stranded across the border while only a limited number of containers are allowed to enter Nepal on a daily basis. Finance Ministry has requested the Ministry of Foreign Affairs and the Ministry of Industry, Commerce and Supplies to make efforts to reopen the northern border but the uncertainty regarding reopening the border still persists.</span></span></span></span></p> <p> </p> ', 'published' => true, 'created' => '2021-01-05', 'modified' => '2021-01-05', 'keywords' => '', 'description' => '', 'sortorder' => '12644', 'image' => '20210105024513_20200327032654_5003_finance-ministy.jpg', 'article_date' => '2021-01-05 14:44:38', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 10 => array( 'Article' => array( 'id' => '12897', 'article_category_id' => '1', 'title' => 'Revenue Collection from Petroleum Products Up Despite a Decline in Import ', 'sub_title' => '', 'summary' => 'January 5: The import of fuel has declined this year compared to last year. However, the revenue collection from the import of fuel has increased this year.', '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 5: The import of fuel has declined this year compared to last year. However, the revenue collection from the import of fuel has increased this 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"">The revenue collection from diesel and petrol increased despite less import because the government increased the customs duty on these to products, that are the major source of government income.</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 the Birgunj Customs Office from where maximum amount of petroleum products enter the country, the import of both diesel and petrol has declined in the first eight months of the current fiscal year. The import of diesel and petrol is less this year compared to 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"">But the customs duty from petroleum products has gone up despite low import compared to last year, informed Mahesh Acharya, chief of Birgunj Customs Office. He said that the revenue collection increased after the government raised customs duty on petrol and diesel.</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 government has fixed a customs duty of Rs 12,000 for one kiloliter of diesel. Last year, the customs duty for the same amount of diesel was only Rs 2,000. Similarly, the government increased the customs duty on petrol from Rs 15,200 per kiloliter to Rs 25,200 per kiloliter, according to Acharya.</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 customs duty on diesel and petrol have been increased this year compared to last fiscal year. This has resulted in more revenue collection despite a decrease in volume of import,” said Acharya.</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 total of 361,000 kiloliters of diesel worth Rs 15.96 billion were imported through Birgunj customs in the first five months of the current fiscal year. During the corresponding period of last fiscal year, 383,000 kiloliters of diesel worth Rs 24.68 billion were imported through the same customs point.</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"">While the import of diesel decreased by six percent, the customs duty increased by 67 percent.</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"">Birgunj Customs collected Rs 7.9 billion in the first eight months of last fiscal year from the import of diesel. Revenue collection from diesel during the corresponding period of the current fiscal year was Rs 11.83 billion. </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 import of petrol has also declined this year to 129,000 KL from 155,000 KL last year. But the revenue collection from petrol has increased by Rs 1 billion.</span></span></span></span></p> <p> </p> ', 'published' => true, 'created' => '2021-01-05', 'modified' => '2021-01-05', 'keywords' => '', 'description' => '', 'sortorder' => '12643', 'image' => '20210105041736_1609803215.Clipboard06a.jpg', 'article_date' => '2021-01-05 16:16:58', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 11 => array( 'Article' => array( 'id' => '12895', 'article_category_id' => '1', 'title' => 'Capacity of Dhalkebar Substation Increased with Additional Transformer', 'sub_title' => '', 'summary' => 'January 5: Nepal Electricity Authority (NEA) has installed an additional transformer of 315 MVA capacity at its Dhalkebar substation, the largest substation in the country.', 'content' => '<p><span style="font-size:12pt"><span style="font-family:Cambria"><span style="font-size:14.0pt"><span style="font-family:Calibri">January 5: Nepal Electricity Authority (NEA) has installed an additional transformer of 315 MVA capacity at its Dhalkebar substation, the largest substation in the country. NEA installed the transformer to upgrade the substation.</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:Calibri">The newly added transformer has been brought into operation from Monday, January 4. Now the total capacity of the transformers of the substation is 635 MVA. Earlier, the substation had 2 transformers of 220 kV and 132 kV with a total capacity of 320 MVA. NEA spokesperson Madan Timsina informed that work is also underway to add another transformer at the substation.</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:Calibri">With the addition of transformers, an additional 100 MW of electricity can be imported from India. Currently, 250 MW of electricity can be imported through the substation. </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:Calibri">Electricity is being imported to the substation through Dhalkebar-Muzaffarpur transmission line.</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:Calibri">A power purchase agreement (PPA) was signed with NTPC Vidyut Nigam Limited (NVVN) of India to bring electricity using the transmission line.</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:Calibri">According to the PPA, NEA can import 250 MW of electricity from July to November and 350 MW from December to April through the same transmission line. </span></span></span></span></p> <p> </p> ', 'published' => true, 'created' => '2021-01-05', 'modified' => '2021-01-05', 'keywords' => '', 'description' => '', 'sortorder' => '12642', 'image' => '20210105010101_20200818043659_1597700431.Clipboard08.jpg', 'article_date' => '2021-01-05 13:00:28', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 12 => array( 'Article' => array( 'id' => '12894', 'article_category_id' => '1', 'title' => 'Chemical Fertilizer from Bangladesh to Arrive after 1 Month', 'sub_title' => '', 'summary' => 'January 5: Chemical fertilizer which the government intends to bring from Bangladesh under a G2G deal will take one more month to arrive in the country.', 'content' => '<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:16.0pt"><span style="font-family:"Arial Unicode MS"">January 5: Chemical fertilizer which the government intends to bring from Bangladesh under a G2G deal will take one more month to arrive in the country.</span></span></span></span></p> <p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:16.0pt"><span style="font-family:"Arial Unicode MS"">The Agriculture Inputs Company Limited has completed all the processes to import 50,000 metric tons of urea from Bangladesh and has already written a formal letter to the neighbouring country in this regard. Bangladesh approved the letter on Monday (January 4) eighteen days after the two countries signed the agreement. This has paved way for Nepal to open a Letter of Credit (LC) to procure the fertilizer.</span></span></span></span></p> <p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:16.0pt"><span style="font-family:"Arial Unicode MS"">The Agriculture Inputs Company, which has been handed over the responsibility of importing the fertilizer, informed that it will open LC by coming Wednesday (January 6).</span></span></span></span></p> <p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:16.0pt"><span style="font-family:"Arial Unicode MS"">According to Bishnu Pokharel, chief of the purchase division of the company, Bangladesh Chemical Industries Corporation will start supplying the fertilizers ten days after Nepal opens the LC.</span></span></span></span></p> <p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:16.0pt"><span style="font-family:"Arial Unicode MS"">It will then take around one more month for the fertilizer to arrive in Nepal.</span></span></span></span></p> <p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:16.0pt"><span style="font-family:"Arial Unicode MS"">Spokesperson at the Ministry of Agriculture and Livestock Development Dr Shree Ram Ghimire informed that the procurement process got delayed due to the delay in responding to the letter by Bangladesh.</span></span></span></span></p> <p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:16.0pt"><span style="font-family:"Arial Unicode MS"">Nepal had signed an agreement for the procurement of fertilizer with Bangladesh on December 17.</span></span></span></span></p> <p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:16.0pt"><span style="font-family:"Arial Unicode MS"">The process was also delayed because Bangladesh decided to supply the fertilizer after procuring it from a private company instead of sending its stock. However, Nepal had signed the agreement to purchase fertilizer produced by the state-owned company of Bangladesh.</span></span></span></span></p> <p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:16.0pt"><span style="font-family:"Arial Unicode MS"">The Agriculture Inputs Company Limited informed that Bangladesh too had to go through the process of opening an LC, due to which the delivery got delayed.</span></span></span></span></p> <p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:16.0pt"><span style="font-family:"Arial Unicode MS"">The Agriculture Inputs Company Limited says that the delay in import will not cause any problem as it has adequate stock of urea at the moment. The company said it has a stock of 8,000 metric tons of urea, 8,000 metric tons of DAP and 9,000 metric tons of Potassium at present.</span></span></span></span></p> <p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:16.0pt"><span style="font-family:"Arial Unicode MS"">Similarly, the Salt Trading Corporation has a stock of 22,000 metric tons of urea, 13,000 metric tons of DAP and 5,000 metric tons of Potassium.</span></span></span></span></p> <p> </p> ', 'published' => true, 'created' => '2021-01-05', 'modified' => '2021-01-05', 'keywords' => '', 'description' => '', 'sortorder' => '12641', 'image' => '20210105121301_20200817122726_1597613093.Clipboard02.jpg', 'article_date' => '2021-01-05 12:12:23', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 13 => array( 'Article' => array( 'id' => '12893', 'article_category_id' => '266', 'title' => 'Nepal SBI Bank Customers to get Discount at Hotel Barahi', 'sub_title' => '', 'summary' => 'January 1: Nepal SBI Bank has signed a Memorandum of Understanding (MoU) with Hotel Barahi, Pokhara to provide discount on various services provided by the hotel. ', 'content' => '<p><span style="font-size:11pt"><span style="font-family:Calibri"><span style="font-family:Arial">January 1: Nepal SBI Bank has signed a Memorandum of Understanding (MoU) with </span><span style="font-family:Arial">Hotel Barahi, Pokhara</span><span style="font-family:Arial"> to provide discount on various services</span><span style="font-family:Arial"> provided by the hotel</span><span style="font-family:Arial">. </span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri"><span style="font-family:Arial">According to the bank, its customers can avail the benefits </span><span style="font-family:Arial">by</span><span style="font-family:Arial"> using </span><span style="font-family:Arial">NSBL</span><span style="font-family:Arial"> debit cards at </span><span style="font-family:Arial">Hotel Barahi</span><span style="font-family:Arial">.</span> </span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri"><span style="font-family:Arial">The MoU was signed by Chhapi Raj Pant, Chief Business Development Officer of NSBL, and Buddhi Man Sharma, Operation Manager of Hotel Barahi.</span></span></span></p> ', 'published' => true, 'created' => '2021-01-04', 'modified' => '2021-01-04', 'keywords' => '', 'description' => '', 'sortorder' => '12640', 'image' => '20210104015548_My Effect.jpg', 'article_date' => '2021-01-04 13:55:09', 'homepage' => false, 'breaking_news' => false, 'main_news' => false, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 14 => array( 'Article' => array( 'id' => '12890', 'article_category_id' => '1', 'title' => 'BFIs Submit Bids worth Billions in Response to NRB’s Mopping Initiative', 'sub_title' => '', 'summary' => 'January 4: Banks and financial institutes (BFIs) have made bids worth billions of rupees in compliance to the financial instruments issued by the central bank to mop excess of liquidity from the banking system.', 'content' => '<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt">January 4: Banks and financial institutes (BFIs) have made bids worth billions of rupees in compliance to the financial instruments issued by the central bank to mop excess of liquidity from the banking system.</span></span></span></p> <p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt">Nepal Rastra Bank (NRB) has issued short-term reverse repo of Rs 110 billion four times in the current fiscal year. BFIs have made biddings of Rs 278.25 billion for the reverse repo.</span></span></span></p> <p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt">The central bank has also issued deposit collection instruments worth Rs 160 billion with maturity period of 28 days for 5 times as of December 31, 2020 to mop excess of liquidity. NRB has received biddings of Rs 333.2 billion for those instruments.</span></span></span></p> <p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt">Of late, banks have become willing to send their money to the central bank even at a low rate of interest. There is excess of liquidity in the banking system due to low demand for loans at present. Instead of stockpiling the money, BFIs are willing to transfer the cash to the central bank reserve in return for nominal interest.</span></span></span></p> <p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt">Banks have made submitted bids to the central bank expressing their quotation of maximum interest rate of 1.5411 percent and a minimum of 0.2060 percent for the reverse repo with maturity period of one week.</span></span></span></p> <p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt">The central bank has said that excess of liquidity in the market can result in low interest rate which in turn will deter savings, and may also cause inflation.</span></span></span></p> <p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt">In order to avoid such a situation, the central bank has issued financial instruments to mop excess of liquidity.</span></span></span></p> <p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt">At present, the banking system has excess liquidity of Rs 176 billion, according to the central bank. Stating that the refinancing provision has resulted in excess liquidity, NRB Spokesperson Dr Gunakar Bhatta said that the central bank has already mopped Rs 60 billion from banks.</span></span></span></p> <p> </p> ', 'published' => true, 'created' => '2021-01-04', 'modified' => '2021-01-04', 'keywords' => '', 'description' => '', 'sortorder' => '12639', 'image' => '20210104113755_1609629473.Clipboard07.jpg', 'article_date' => '2021-01-04 11:37:24', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ) ) $current_user = null $logged_in = falsesimplexml_load_file - [internal], line ?? include - APP/View/Elements/side_bar.ctp, line 60 View::_evaluate() - CORE/Cake/View/View.php, line 971 View::_render() - CORE/Cake/View/View.php, line 933 View::_renderElement() - CORE/Cake/View/View.php, line 1224 View::element() - CORE/Cake/View/View.php, line 418 include - APP/View/Articles/index.ctp, line 157 View::_evaluate() - CORE/Cake/View/View.php, line 971 View::_render() - CORE/Cake/View/View.php, line 933 View::render() - CORE/Cake/View/View.php, line 473 Controller::render() - CORE/Cake/Controller/Controller.php, line 968 Dispatcher::_invoke() - CORE/Cake/Routing/Dispatcher.php, line 200 Dispatcher::dispatch() - CORE/Cake/Routing/Dispatcher.php, line 167 [main] - APP/webroot/index.php, line 117
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' => '12906', 'article_category_id' => '1', 'title' => 'Pokhara Int’l Airport to start operation before Gautam Buddha Int’l Airport', 'sub_title' => '', 'summary' => 'January 7: At a time when the physical progress of national pride projects has not been satisfactory, the Pokhara International Airport which is under construction in Pokhara, Kaski, is likely to be completed within the deadline.', 'content' => '<p><span style="font-size:12pt"><span style="font-family:Cambria"><span style="font-size:14.0pt">January 7: At a time when the physical progress of national pride projects has not been satisfactory, the Pokhara International Airport which is under construction in Pokhara, Kaski, is likely to be completed within the deadline.<br /> Looking at the ongoing work progress, it is likely that the Pokhara International Airport will start its operation before Bhairahawa International Airport.<br /> According to the airport project office, the new international airport in Pokhara has made 68 percent physical progress while the financial progress is about 51 percent. The airport project has informed that the financial progress is below the target, and contractors will receive the payments after completing the specified work.<br /> According to the project, the construction work of 2,500 meters runway, ATC tower, seven buildings, and a hangar has been completed. Finishing work of these infrastructures is in progress.<br /> The only thing left to do is to install the equipment, including lighting at the airport. More than 50 percent of the equipment has been connected at the airport, and the remaining will arrive shortly.<br /> The construction of the airport will be completed within six months after the arrival of the equipment, informed Vinesh Munkarmi, chief engineer of the airport project. "If there was no problem with Covid-19, it could have been completed sooner. Due to Covid-19, the work had to be completely stopped for about 3 months," he added.<br /> Chinese workers who had gone to their country to celebrate the New Year 2020 were stranded there because of coronavirus. "Now they are coming in large numbers," he said. </span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:Cambria"><span style="font-size:14.0pt">Connection work will begin as soon as they arrive. Munkarmi informed that technicians need to come from China, Europe, and Australia to complete the technical works. The work is expected to be completed within June 2021.</span></span></span></p> <p> </p> <p> </p> ', 'published' => true, 'created' => '2021-01-07', 'modified' => '2021-01-07', 'keywords' => '', 'description' => '', 'sortorder' => '12653', 'image' => '20210107021343_1609974676.Clipboard19.jpg', 'article_date' => '2021-01-07 14:12:41', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 1 => array( 'Article' => array( 'id' => '12905', 'article_category_id' => '1', 'title' => 'ICP ‘Lacks Infrastructure’ to Facilitate Entry of Bulk Cargo', 'sub_title' => '', 'summary' => 'January 7: The government had a plan to integrate all the customs offices at the Integrated Check Post (ICP) of Birgunj, once it came into operation. ', '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 7: The government had a plan to integrate all the customs offices at the Integrated Check Post (ICP) of Birgunj, once it came into operation. It has been three years since the ICP has been used for import and export of goods but the government has not fulfilled its plan.</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"">Birgunj currently has the ICP, Birgunj Dry Port and Inarwa (Birgunj) Customs for the import and export of goods. The government was planning to convert the Birgunj Customs into passenger transit point after the ICP came into operation. It has been once year since the government decided to integrate the Dry Port with the ICP. However, the decision is yet to materialize due to poor infrastructure and ambiguous instructions.</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 importers involved in bringing in bulk cargo from Birgunj Customs have demanded a separate lane at the ICP. At present, most of the bulk cargo enter Nepal from India’s Raxaul through the friendship bridge.</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"">General Secretary of Birgunj Chamber of Commerce Madhav Rajpal says that the decision to integrate the Birgunj Customs with the ICP cannot take place unless the government makes a provision to transfer the cargo brought from Raxaul through train to the ICP.</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"">Clinker, gypsum, coal, salt, iron and some amount of petroleum products enter Nepal through Raxaul. Birgunj Customs informed that a total of 51 racks of goods entered Nepal through Raxaul in December.</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"">Kamal Gyawali, chief of Nepal Intermodal Transport Development Committee (NTDC), which operates the ICP, informed that the ICP has started works to expand the infrastructures like parking lot and warehouse but they do not yet have any plan to have a separate lane for bulk cargo. </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 ICP has five lanes for import and export. Customs officer Ramesh Sukmani says that the problem has surfaced because the same lane is used for entry and exit of goods. Sukmani says that the plan to integrate Birgunj Customs with the ICP could not take place due to lack of adequate infrastructure.</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 foreign trade has already been shifted from to the ICP from the Birgunj Customs. However, the entry of bulk cargo is still taking place from the old customs point,” says Sukmani.</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 ICP lacks adequate infrastructure to allow the entry of bulk cargo,” he added.</span></span></span></span></p> <p> </p> ', 'published' => true, 'created' => '2021-01-07', 'modified' => '2021-01-07', 'keywords' => '', 'description' => '', 'sortorder' => '12652', 'image' => '20210107010829_1609973629.Clipboard16.jpg', 'article_date' => '2021-01-07 13:07:54', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 2 => array( 'Article' => array( 'id' => '12904', 'article_category_id' => '1', 'title' => 'Price of Chicken Increases by 54 Percent', 'sub_title' => '', 'summary' => 'January 7: The price of broiler chicken has increased by 54 percent after the government lifted lockdown in the country. ', '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 7: The price of broiler chicken has increased by 54 percent after the government lifted lockdown in the country. The price hike is attributed to the increase in consumption after hotels, restaurants and party palaces started reopening post-lockdown.</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 the entrepreneurs involved in meat business in Nepal, the price of chicken was Rs 240 per kilogram in early September. The current price of chicken is Rs 370 per kg.</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 consumption of meat had dropped to 30 percent during the lockdown period. Now the consumption has increased to 60 percent compared to normal times, says Jung Bahadur BC, chairman of the Meat Entrepreneurs Association of Nepal.</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"">BC added that the price of chicken has also increased because the production is low in winter season. As farmers have started producing less amount of chichen, Nepal Hatchery Industry Association has also lowered the production of eggs, added BC.</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"">During normal circumstances, the hatchery industry of Nepal used to produce 4.2 million chicks but now the production is down to 3.2 million.</span></span></span></span></p> <p> </p> ', 'published' => true, 'created' => '2021-01-07', 'modified' => '2021-01-07', 'keywords' => '', 'description' => '', 'sortorder' => '12651', 'image' => '20210107122731_Crispy-Fried-Chicken_EXPS_FRBZ19_6445_C01_31_3b-2 2.jpg', 'article_date' => '2021-01-07 12:26:58', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => false, 'user_id' => '34' ) ), (int) 3 => array( 'Article' => array( 'id' => '12903', 'article_category_id' => '1', 'title' => 'Government on High Alert following Outbreak of Bird Flu in India', 'sub_title' => '', 'summary' => 'January 7: The government has tightened the border with India after the southern neighbor reported deaths in poultry farms since last week due to bird flu.', '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 7: The government has tightened the border with India after the southern neighbor reported deaths in poultry farms since last week due to bird flu. </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 Ministry of Agriculture and Livestock Development informed that they have decided to step up measures in the border points with India to prevent an outbreak of the disease here in Nepal.</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 ministry has instructed the District Livestock Offices in terai districts to adopt safety measures to avoid the disease from spreading, informed Dr Shree Ram Ghimire, spokesperson at the ministry.</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 Dr Ghimire, the ministry has asked the district offices and local units to inform it if they require additional manpower and machineries to curb the possible spread of the disease.</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 Department of Livestock has also started making preparations to prevent the disease from entering the country and to minimize its impact if in case the disease surfaces in Nepal.</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"">Information Officer at the department Dr Chandra Dhakal informed that they will hold discussions on Thursday (January 7) to seek measures in order to avoid the disease from entering the country.</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"">Bird flu has affected states like Himanchal Pradesh in the north to Kerala in the south as well as other areas like Indore, Haryana. The state governments have issued high alert in the affected areas and adopted emergency measures to curb the disease.</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 the BBC, thousands of birds have started dying in India due to bird flu. Shops selling poultry products have closed in some districts. Authorities have reportedly banned the sale of eggs as well.</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"">BBC further reported that more than 2,400 migratory ducks that arrived in Himanchal Pradesh from Siberia and Mongolia have been found dead. Meanwhile, authorities have culled 12,000 ducks and 36,000 birds of other species in Kerala state.</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 had first reported bird flu in 2009 while the country had to bear massive loss in 2013. Altogether 201 poultry farms in Kathmandu, Chitwan, Dhadhing, Jhapa and Kailali were affected in 2013.</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"">Officials at the agriculture ministry claim that the disease will not spread easily in Nepal. However, authorities are worried because of the close proximity with India. They suspect people in the border area might smuggle chicken from India taking advantage of the porous border and the low price of chicken in India.</span></span></span></span></p> ', 'published' => true, 'created' => '2021-01-07', 'modified' => '2021-01-07', 'keywords' => '', 'description' => '', 'sortorder' => '12650', 'image' => '20210107114529_1609973535.Clipboard17.jpg', 'article_date' => '2021-01-07 11:44:58', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => false, 'user_id' => '34' ) ), (int) 4 => array( 'Article' => array( 'id' => '12902', 'article_category_id' => '1', 'title' => 'Import of Generators up by 350 Percent ', 'sub_title' => '', 'summary' => 'January 6: While the increasing problem of power cuts in different parts of the country has given a glimpse of load shedding, the import of generators used as an alternative to electricity has also skyrocketed. ', 'content' => '<p><span style="font-size:11pt"><span style="font-family:Calibri"><span style="font-size:14.0pt"><span style="font-family:"Times New Roman"">January 6: While the increasing problem of power cuts in different parts of the country has given a glimpse of load shedding, the import of generators used as an alternative to electricity has also skyrocketed. </span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri"><span style="font-size:14.0pt"><span style="font-family:"Times New Roman"">According to the data released by the Department of Customs, the import of generators has increased by 350 percent in the first five months of the current fiscal year as compared to the previous year. </span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri"><span style="font-size:14.0pt"><span style="font-family:"Times New Roman"">In the first five months of the current fiscal year, a total of 707 units of generators have been imported into the country. Last year, only 154 units of generators were imported. </span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri"><span style="font-size:14.0pt"><span style="font-family:"Times New Roman"">During this period, the import of battery has also increased by 77 percent. However, the import of inverters seems to have declined. According to the department, the import of inverters had come down from 56 units to 50 units last year, but only 29 units have been imported this year. </span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri"><span style="font-size:14.0pt"><span style="font-family:"Times New Roman"">Director General of the Department, Suman Dahal, confirmed that the import of generators has increased. He said, "Whether it is due to rumors of load shedding or other reasons, the import of generators has increased compared to last year." </span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri"><span style="font-size:14.0pt"><span style="font-family:"Times New Roman"">The Nepal Electricity Authority (NEA) has issued a statement twice saying that there will be no load shedding as the public started doubting if there would be load shedding like before. </span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri"><span style="font-size:14.0pt"><span style="font-family:"Times New Roman"">Last week, the NEA had issued a statement informing that there will be power cuts in some places of Lalitpur to reduce power load. However, it issued another statement later saying that power cuts due to technical problems, repair works and due to the winter season is a normal phenomena while there isn’t any plan for load shedding.</span></span></span></span></p> <p> </p> ', 'published' => true, 'created' => '2021-01-06', 'modified' => '2021-01-06', 'keywords' => '', 'description' => '', 'sortorder' => '12649', 'image' => '20210106034059_10k2.jpg', 'article_date' => '2021-01-06 15:40:27', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 5 => array( 'Article' => array( 'id' => '12901', 'article_category_id' => '1', 'title' => 'Industrialists Warn of Chain Effect of Rise in Transportation Cost ', 'sub_title' => 'Industrialists warn of chain effect of price hike', 'summary' => 'January 6: The rise in transportation cost of daily essentials and raw materials coming from third countries is expected to increase inflation in the domestic market of Nepal.', 'content' => '<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:12.0pt"><span style="font-family:"Arial Unicode MS"">January 6: The rise in transportation cost of daily essentials and raw materials coming from third countries is expected to increase inflation in the domestic market of Nepal.</span></span></span></span></p> <p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:12.0pt"><span style="font-family:"Arial Unicode MS"">Industrialists say that the hike in transportation cost of mustard and soybean oil as well as plastic, coal, iron and other raw materials required for the industrial sector is certain to impact the local market of the country.</span></span></span></span></p> <p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:12.0pt"><span style="font-family:"Arial Unicode MS"">The transportation cost of one ton of plastic has been increased by $400. The transportation cost which was $800 per ton has not reached as high as $1200 for plastic, says operator of Bagmati Plastic Nanda Kishor Rathi.</span></span></span></span></p> <p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:12.0pt"><span style="font-family:"Arial Unicode MS"">According to Rathi, the increase in transportation cost has forced them to raise the price of plastic products by Rs 8 to Rs 10 per kilogram. Around 16 to 17 tons of plastic is imported in one container. The UAE, South Africa, Singapore and India supplies plastics to Nepal.</span></span></span></span></p> <p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:12.0pt"><span style="font-family:"Arial Unicode MS"">The transshipment cost from China has also skyrocketed. The cost of transporting goods using a 40-feet container was US$ 1600, which has not climbed to US$ 5400.</span></span></span></span></p> <p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:12.0pt"><span style="font-family:"Arial Unicode MS"">The importers have been forced to hold their goods due to the sudden hike in transportation cost.</span></span></span></span></p> <p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:12.0pt"><span style="font-family:"Arial Unicode MS"">Former chairman of Morang Chamber of Commerce Pawan Sharada says that the shipping companies have been increasing fare arbitrarily citing coronavirus pandemic. Goods that used to arrive within 15 to 20 days now take between 30 to 40 days to arrive. This has also resulted in shortage of raw materials in the country.</span></span></span></span></p> <p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:12.0pt"><span style="font-family:"Arial Unicode MS"">The impact has already been felt in the prices of edible oil, electronic goods, industrial raw materials among others. The price of edible oil has already increased by Rs 10 per litre while utensils made of iron, plastics as well as cement are also increasing.</span></span></span></span></p> <p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:12.0pt"><span style="font-family:"Arial Unicode MS"">According to Rathi, the increase in price of plastics has had a chain effect which is evident from the price hike of packaging materials. Once the price of packaging materials goes up, the prices of all industrial products also get hiked, says Rathi. </span></span></span></span></p> ', 'published' => true, 'created' => '2021-01-06', 'modified' => '2021-01-06', 'keywords' => '', 'description' => '', 'sortorder' => '12648', 'image' => '20210106023229_1609887800.Clipboard06.jpg', 'article_date' => '2021-01-06 14:31:48', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => false, 'user_id' => '34' ) ), (int) 6 => array( 'Article' => array( 'id' => '12900', 'article_category_id' => '1', 'title' => 'Stakeholders Protest Government’s Decision to Open Agriculture Sector for Foreign Investment', 'sub_title' => '', 'summary' => 'January 6: Entrepreneurs involved in the agriculture business have decided to move court against the government’s decision to allow foreign investment in Nepal’s agriculture sector.', '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 6: Entrepreneurs involved in the agriculture business have decided to move court against the government’s decision to allow foreign investment in Nepal’s agriculture 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"">The entrepreneurs are ready for a legal battle after the Ministry of Industry, Commerce and Supplies on Monday published the decision in the Nepal Gazette.</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"">Organising a joint press conference in the capital on Tuesday, Nepal Dairy Association, Dairy Industries Association, Central Dairy Cooperatives Association, Central Livestock and Animal Husbandry Cooperatives Association and Nepal Fishery Entrepreneurs Association informed that they will file a case against the government decision to open foreign investment in Nepal’s agriculture 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"">They claimed that the decision taken by the government is against the welfare of farmers because the private sector has invested billions of rupees in the agriculture sector. They also denounced the government for taking such vital decision without consulting with the stakeholders.</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"">They added that the government’s decision is likely to cause a major impact on Nepal’s economy.</span></span></span></span></p> <p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:"Arial Unicode MS"">Chairman of Dairy Industries Association Raj Kumar Dahal confirmed that the stakeholders have decided to challenge the government’s decision in court.</span></span></span></span></p> <p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:"Arial Unicode MS"">“We decided to move the court after consulting with legal practitioners,” said Dahal.</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 also warned that they will stage demonstrations at Maitighar Mandala on Thursday and extend the protest programmes across the country if the government does not withdraw 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"">The parliament had concluded on March 27, 2019 that the country should not open its agriculture sector for foreign investment. However, taking advantage of political instability at a time when the parliament has been dissolved, the government recently took a wrong decision, according to stakeholders.</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 private sector has invested Rs 4 billion in rearing bees, Rs 11 billion in fishery, Rs 30 billion in dairy industry, and 40 billion in poultry farming. The local investment in agriculture sector has provided employment to 1.5 million people, according to government records.</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"">Entrepreneurs involved in the agriculture sector have urged the government not to implement its decision arguing that foreign investment would destroy the country’s agriculture 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"">However, government officials say that the decision taken by the government will be beneficial for the farmers.</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"">Joint Secretary at the Ministry of Industry, Commerce and Supplies Urmila KC said opening foreign investment in the agriculture sector will diversify the sector and promote new technologies which in turn will benefit the farmers.</span></span></span></span></p> <p> </p> <p> </p> ', 'published' => true, 'created' => '2021-01-06', 'modified' => '2021-01-06', 'keywords' => '', 'description' => '', 'sortorder' => '12647', 'image' => '20210106123441_20201105020829_cover.jpg', 'article_date' => '2021-01-06 12:34:11', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 7 => array( 'Article' => array( 'id' => '12899', 'article_category_id' => '1', 'title' => 'Prices of Gold, Silver Up Again', 'sub_title' => '', 'summary' => 'anuary 6: The prices of gold and silver have increased in the domestic market of Nepal on Wednesday. ', '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 6: The prices of gold and silver have increased in the domestic market of Nepal on Wednesday. The price of gold increased by Rs 300 per tola (11 grams approx.), according to the Federation of Nepal Gold and Silver Dealers 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"">Fine gold is being traded for Rs 96,700 on Wednesday. The price of fine gold was Rs 96,400 on Tuesday.</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"">Similarly, the price of silver increased by Rs 5 on Wednesday, compared to the pervious day. Silver is being traded for Rs 1340 per 11 grams on Wednesday while the price of 11 grams of silver on Tuesday was Rs 1335.</span></span></span></span></p> <p> </p> ', 'published' => true, 'created' => '2021-01-06', 'modified' => '2021-01-06', 'keywords' => '', 'description' => '', 'sortorder' => '12646', 'image' => '20210106114926_Gold-Silver.jpg', 'article_date' => '2021-01-06 11:48:51', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => false, 'user_id' => '34' ) ), (int) 8 => array( 'Article' => array( 'id' => '12898', 'article_category_id' => '218', 'title' => 'NIFRA to Issue IPO from January 15', 'sub_title' => '', 'summary' => 'January 5: Nepal Infrastructure Bank Limited (NIFRA) has appointed NIBL Ace Capital Limited as its issue manager for the IPO issuance. ', 'content' => '<p><span style="font-size:20px"><span style="font-family:Calibri">January 5: Nepal Infrastructure Bank Limited (NIFRA) has appointed NIBL Ace Capital Limited as its issue manager for the IPO issuance. </span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri">The bank said in a statement that it is issuing IPO of 40 percent of its issued capital i.e. 80 million units worth Rs 8 billion. </span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri">The bank will be issuing its IPO from January 15 to 19. The bank claimed that it is the biggest IPO in the history of Nepal’s capital market.</span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri">NIFRA said its paid-up capital will be Rs 20 billion after the issuance of IPO. Out of the total paid-up capital of the bank, Rs 12 billion has been collected from the promoter shareholders while Rs 8 billion will be collected from the issuance of IPO.</span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri">Nepal Infrastructure Bank Limited (NIFRA) has been set up by Banks and Financial Institutions (BFIs), Life and Non-life Insurance companies and other leading entities of the private sector in joint participation with the Government of Nepal. </span></span></p> <p> </p> ', 'published' => true, 'created' => '2021-01-05', 'modified' => '2021-01-05', 'keywords' => '', 'description' => '', 'sortorder' => '12645', 'image' => '20210105042837_20190101042956_IPO.jpg', 'article_date' => '2021-01-05 16:28:00', 'homepage' => false, 'breaking_news' => false, 'main_news' => false, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 9 => array( 'Article' => array( 'id' => '12896', 'article_category_id' => '1', 'title' => 'Government Unable to Meet its Revenue Collection Target', 'sub_title' => '', 'summary' => 'January 5: The government faces an uphill battle to meet the revenue collection target set for the current fiscal year.', '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 5: </span></span><span style="font-size:14.0pt"><span style="font-family:"Arial Unicode MS"">The government faces an uphill battle to meet the revenue collection target set for the current 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"">The government is unlikely to meet its target due to the obstruction in the northern border and the meltdown of economic activities due to Covid-19 pandemic.</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 the Ministry of Finance, the government is short of Rs 2 billion in meeting the target of customs duty collection as of mid-December. Likewise, it is lagging behind by Rs 25 billion in tax collection and by Rs 12.18 billion in non-tax collection compared to its target.</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"">As of mid-December, the government has collected Rs 39 billion less revenue that its target.</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"">Officials at the ministry were expecting an increase in import during the current crisis but instead the import of certain goods declined. That also posed a challenge for the government to meet its revenue collection target.</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"">Finance ministry officials say that the government’s failure to expedite development works and construction led to a decline in import of construction materials, equipment and petroleum products. This in turn resulted in low revenue collection.</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 government is under pressure for a mid-term review of its revenue collection target. It needs to set a new target and a new approach to meet the target, according to officials at the ministry. </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"">“It is still not certain when the obstruction in northern border and the Covid-19 crisis will end. This has directly impacted revenue collection,” said chief of the Revenue Department Rameshwar Dangal.</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 him, the government has not been able to meet the target of revenue collection in all fronts including customs duty, tax and non-tax. </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"">Dangal further said that the collection of taxes from the tourism industry and educational institutions has been completely halted for the time being. Likewise, revenue collection from the customs points of Rasuwagadhi and Tatopani has been affected since the start of the current fiscal year. Hundreds of containers have been stranded across the border while only a limited number of containers are allowed to enter Nepal on a daily basis. Finance Ministry has requested the Ministry of Foreign Affairs and the Ministry of Industry, Commerce and Supplies to make efforts to reopen the northern border but the uncertainty regarding reopening the border still persists.</span></span></span></span></p> <p> </p> ', 'published' => true, 'created' => '2021-01-05', 'modified' => '2021-01-05', 'keywords' => '', 'description' => '', 'sortorder' => '12644', 'image' => '20210105024513_20200327032654_5003_finance-ministy.jpg', 'article_date' => '2021-01-05 14:44:38', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 10 => array( 'Article' => array( 'id' => '12897', 'article_category_id' => '1', 'title' => 'Revenue Collection from Petroleum Products Up Despite a Decline in Import ', 'sub_title' => '', 'summary' => 'January 5: The import of fuel has declined this year compared to last year. However, the revenue collection from the import of fuel has increased this year.', '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 5: The import of fuel has declined this year compared to last year. However, the revenue collection from the import of fuel has increased this 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"">The revenue collection from diesel and petrol increased despite less import because the government increased the customs duty on these to products, that are the major source of government income.</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 the Birgunj Customs Office from where maximum amount of petroleum products enter the country, the import of both diesel and petrol has declined in the first eight months of the current fiscal year. The import of diesel and petrol is less this year compared to 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"">But the customs duty from petroleum products has gone up despite low import compared to last year, informed Mahesh Acharya, chief of Birgunj Customs Office. He said that the revenue collection increased after the government raised customs duty on petrol and diesel.</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 government has fixed a customs duty of Rs 12,000 for one kiloliter of diesel. Last year, the customs duty for the same amount of diesel was only Rs 2,000. Similarly, the government increased the customs duty on petrol from Rs 15,200 per kiloliter to Rs 25,200 per kiloliter, according to Acharya.</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 customs duty on diesel and petrol have been increased this year compared to last fiscal year. This has resulted in more revenue collection despite a decrease in volume of import,” said Acharya.</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 total of 361,000 kiloliters of diesel worth Rs 15.96 billion were imported through Birgunj customs in the first five months of the current fiscal year. During the corresponding period of last fiscal year, 383,000 kiloliters of diesel worth Rs 24.68 billion were imported through the same customs point.</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"">While the import of diesel decreased by six percent, the customs duty increased by 67 percent.</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"">Birgunj Customs collected Rs 7.9 billion in the first eight months of last fiscal year from the import of diesel. Revenue collection from diesel during the corresponding period of the current fiscal year was Rs 11.83 billion. </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 import of petrol has also declined this year to 129,000 KL from 155,000 KL last year. But the revenue collection from petrol has increased by Rs 1 billion.</span></span></span></span></p> <p> </p> ', 'published' => true, 'created' => '2021-01-05', 'modified' => '2021-01-05', 'keywords' => '', 'description' => '', 'sortorder' => '12643', 'image' => '20210105041736_1609803215.Clipboard06a.jpg', 'article_date' => '2021-01-05 16:16:58', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 11 => array( 'Article' => array( 'id' => '12895', 'article_category_id' => '1', 'title' => 'Capacity of Dhalkebar Substation Increased with Additional Transformer', 'sub_title' => '', 'summary' => 'January 5: Nepal Electricity Authority (NEA) has installed an additional transformer of 315 MVA capacity at its Dhalkebar substation, the largest substation in the country.', 'content' => '<p><span style="font-size:12pt"><span style="font-family:Cambria"><span style="font-size:14.0pt"><span style="font-family:Calibri">January 5: Nepal Electricity Authority (NEA) has installed an additional transformer of 315 MVA capacity at its Dhalkebar substation, the largest substation in the country. NEA installed the transformer to upgrade the substation.</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:Calibri">The newly added transformer has been brought into operation from Monday, January 4. Now the total capacity of the transformers of the substation is 635 MVA. Earlier, the substation had 2 transformers of 220 kV and 132 kV with a total capacity of 320 MVA. NEA spokesperson Madan Timsina informed that work is also underway to add another transformer at the substation.</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:Calibri">With the addition of transformers, an additional 100 MW of electricity can be imported from India. Currently, 250 MW of electricity can be imported through the substation. </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:Calibri">Electricity is being imported to the substation through Dhalkebar-Muzaffarpur transmission line.</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:Calibri">A power purchase agreement (PPA) was signed with NTPC Vidyut Nigam Limited (NVVN) of India to bring electricity using the transmission line.</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:Calibri">According to the PPA, NEA can import 250 MW of electricity from July to November and 350 MW from December to April through the same transmission line. </span></span></span></span></p> <p> </p> ', 'published' => true, 'created' => '2021-01-05', 'modified' => '2021-01-05', 'keywords' => '', 'description' => '', 'sortorder' => '12642', 'image' => '20210105010101_20200818043659_1597700431.Clipboard08.jpg', 'article_date' => '2021-01-05 13:00:28', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 12 => array( 'Article' => array( 'id' => '12894', 'article_category_id' => '1', 'title' => 'Chemical Fertilizer from Bangladesh to Arrive after 1 Month', 'sub_title' => '', 'summary' => 'January 5: Chemical fertilizer which the government intends to bring from Bangladesh under a G2G deal will take one more month to arrive in the country.', 'content' => '<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:16.0pt"><span style="font-family:"Arial Unicode MS"">January 5: Chemical fertilizer which the government intends to bring from Bangladesh under a G2G deal will take one more month to arrive in the country.</span></span></span></span></p> <p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:16.0pt"><span style="font-family:"Arial Unicode MS"">The Agriculture Inputs Company Limited has completed all the processes to import 50,000 metric tons of urea from Bangladesh and has already written a formal letter to the neighbouring country in this regard. Bangladesh approved the letter on Monday (January 4) eighteen days after the two countries signed the agreement. This has paved way for Nepal to open a Letter of Credit (LC) to procure the fertilizer.</span></span></span></span></p> <p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:16.0pt"><span style="font-family:"Arial Unicode MS"">The Agriculture Inputs Company, which has been handed over the responsibility of importing the fertilizer, informed that it will open LC by coming Wednesday (January 6).</span></span></span></span></p> <p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:16.0pt"><span style="font-family:"Arial Unicode MS"">According to Bishnu Pokharel, chief of the purchase division of the company, Bangladesh Chemical Industries Corporation will start supplying the fertilizers ten days after Nepal opens the LC.</span></span></span></span></p> <p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:16.0pt"><span style="font-family:"Arial Unicode MS"">It will then take around one more month for the fertilizer to arrive in Nepal.</span></span></span></span></p> <p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:16.0pt"><span style="font-family:"Arial Unicode MS"">Spokesperson at the Ministry of Agriculture and Livestock Development Dr Shree Ram Ghimire informed that the procurement process got delayed due to the delay in responding to the letter by Bangladesh.</span></span></span></span></p> <p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:16.0pt"><span style="font-family:"Arial Unicode MS"">Nepal had signed an agreement for the procurement of fertilizer with Bangladesh on December 17.</span></span></span></span></p> <p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:16.0pt"><span style="font-family:"Arial Unicode MS"">The process was also delayed because Bangladesh decided to supply the fertilizer after procuring it from a private company instead of sending its stock. However, Nepal had signed the agreement to purchase fertilizer produced by the state-owned company of Bangladesh.</span></span></span></span></p> <p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:16.0pt"><span style="font-family:"Arial Unicode MS"">The Agriculture Inputs Company Limited informed that Bangladesh too had to go through the process of opening an LC, due to which the delivery got delayed.</span></span></span></span></p> <p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:16.0pt"><span style="font-family:"Arial Unicode MS"">The Agriculture Inputs Company Limited says that the delay in import will not cause any problem as it has adequate stock of urea at the moment. The company said it has a stock of 8,000 metric tons of urea, 8,000 metric tons of DAP and 9,000 metric tons of Potassium at present.</span></span></span></span></p> <p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:16.0pt"><span style="font-family:"Arial Unicode MS"">Similarly, the Salt Trading Corporation has a stock of 22,000 metric tons of urea, 13,000 metric tons of DAP and 5,000 metric tons of Potassium.</span></span></span></span></p> <p> </p> ', 'published' => true, 'created' => '2021-01-05', 'modified' => '2021-01-05', 'keywords' => '', 'description' => '', 'sortorder' => '12641', 'image' => '20210105121301_20200817122726_1597613093.Clipboard02.jpg', 'article_date' => '2021-01-05 12:12:23', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 13 => array( 'Article' => array( 'id' => '12893', 'article_category_id' => '266', 'title' => 'Nepal SBI Bank Customers to get Discount at Hotel Barahi', 'sub_title' => '', 'summary' => 'January 1: Nepal SBI Bank has signed a Memorandum of Understanding (MoU) with Hotel Barahi, Pokhara to provide discount on various services provided by the hotel. ', 'content' => '<p><span style="font-size:11pt"><span style="font-family:Calibri"><span style="font-family:Arial">January 1: Nepal SBI Bank has signed a Memorandum of Understanding (MoU) with </span><span style="font-family:Arial">Hotel Barahi, Pokhara</span><span style="font-family:Arial"> to provide discount on various services</span><span style="font-family:Arial"> provided by the hotel</span><span style="font-family:Arial">. </span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri"><span style="font-family:Arial">According to the bank, its customers can avail the benefits </span><span style="font-family:Arial">by</span><span style="font-family:Arial"> using </span><span style="font-family:Arial">NSBL</span><span style="font-family:Arial"> debit cards at </span><span style="font-family:Arial">Hotel Barahi</span><span style="font-family:Arial">.</span> </span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri"><span style="font-family:Arial">The MoU was signed by Chhapi Raj Pant, Chief Business Development Officer of NSBL, and Buddhi Man Sharma, Operation Manager of Hotel Barahi.</span></span></span></p> ', 'published' => true, 'created' => '2021-01-04', 'modified' => '2021-01-04', 'keywords' => '', 'description' => '', 'sortorder' => '12640', 'image' => '20210104015548_My Effect.jpg', 'article_date' => '2021-01-04 13:55:09', 'homepage' => false, 'breaking_news' => false, 'main_news' => false, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 14 => array( 'Article' => array( 'id' => '12890', 'article_category_id' => '1', 'title' => 'BFIs Submit Bids worth Billions in Response to NRB’s Mopping Initiative', 'sub_title' => '', 'summary' => 'January 4: Banks and financial institutes (BFIs) have made bids worth billions of rupees in compliance to the financial instruments issued by the central bank to mop excess of liquidity from the banking system.', 'content' => '<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt">January 4: Banks and financial institutes (BFIs) have made bids worth billions of rupees in compliance to the financial instruments issued by the central bank to mop excess of liquidity from the banking system.</span></span></span></p> <p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt">Nepal Rastra Bank (NRB) has issued short-term reverse repo of Rs 110 billion four times in the current fiscal year. BFIs have made biddings of Rs 278.25 billion for the reverse repo.</span></span></span></p> <p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt">The central bank has also issued deposit collection instruments worth Rs 160 billion with maturity period of 28 days for 5 times as of December 31, 2020 to mop excess of liquidity. NRB has received biddings of Rs 333.2 billion for those instruments.</span></span></span></p> <p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt">Of late, banks have become willing to send their money to the central bank even at a low rate of interest. There is excess of liquidity in the banking system due to low demand for loans at present. Instead of stockpiling the money, BFIs are willing to transfer the cash to the central bank reserve in return for nominal interest.</span></span></span></p> <p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt">Banks have made submitted bids to the central bank expressing their quotation of maximum interest rate of 1.5411 percent and a minimum of 0.2060 percent for the reverse repo with maturity period of one week.</span></span></span></p> <p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt">The central bank has said that excess of liquidity in the market can result in low interest rate which in turn will deter savings, and may also cause inflation.</span></span></span></p> <p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt">In order to avoid such a situation, the central bank has issued financial instruments to mop excess of liquidity.</span></span></span></p> <p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt">At present, the banking system has excess liquidity of Rs 176 billion, according to the central bank. Stating that the refinancing provision has resulted in excess liquidity, NRB Spokesperson Dr Gunakar Bhatta said that the central bank has already mopped Rs 60 billion from banks.</span></span></span></p> <p> </p> ', 'published' => true, 'created' => '2021-01-04', 'modified' => '2021-01-04', 'keywords' => '', 'description' => '', 'sortorder' => '12639', 'image' => '20210104113755_1609629473.Clipboard07.jpg', 'article_date' => '2021-01-04 11:37:24', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ) ) $current_user = null $logged_in = false $xml = falseinclude - APP/View/Elements/side_bar.ctp, line 133 View::_evaluate() - CORE/Cake/View/View.php, line 971 View::_render() - CORE/Cake/View/View.php, line 933 View::_renderElement() - CORE/Cake/View/View.php, line 1224 View::element() - CORE/Cake/View/View.php, line 418 include - APP/View/Articles/index.ctp, line 157 View::_evaluate() - CORE/Cake/View/View.php, line 971 View::_render() - CORE/Cake/View/View.php, line 933 View::render() - CORE/Cake/View/View.php, line 473 Controller::render() - CORE/Cake/Controller/Controller.php, line 968 Dispatcher::_invoke() - CORE/Cake/Routing/Dispatcher.php, line 200 Dispatcher::dispatch() - CORE/Cake/Routing/Dispatcher.php, line 167 [main] - APP/webroot/index.php, line 117
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The airport project has informed that the financial progress is below the target, and contractors will receive the payments after completing the specified work.<br /> According to the project, the construction work of 2,500 meters runway, ATC tower, seven buildings, and a hangar has been completed. Finishing work of these infrastructures is in progress.<br /> The only thing left to do is to install the equipment, including lighting at the airport. More than 50 percent of the equipment has been connected at the airport, and the remaining will arrive shortly.<br /> The construction of the airport will be completed within six months after the arrival of the equipment, informed Vinesh Munkarmi, chief engineer of the airport project. "If there was no problem with Covid-19, it could have been completed sooner. Due to Covid-19, the work had to be completely stopped for about 3 months," he added.<br /> Chinese workers who had gone to their country to celebrate the New Year 2020 were stranded there because of coronavirus. "Now they are coming in large numbers," he said. </span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:Cambria"><span style="font-size:14.0pt">Connection work will begin as soon as they arrive. Munkarmi informed that technicians need to come from China, Europe, and Australia to complete the technical works. The work is expected to be completed within June 2021.</span></span></span></p> <p> </p> <p> </p> ', 'published' => true, 'created' => '2021-01-07', 'modified' => '2021-01-07', 'keywords' => '', 'description' => '', 'sortorder' => '12653', 'image' => '20210107021343_1609974676.Clipboard19.jpg', 'article_date' => '2021-01-07 14:12:41', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 1 => array( 'Article' => array( 'id' => '12905', 'article_category_id' => '1', 'title' => 'ICP ‘Lacks Infrastructure’ to Facilitate Entry of Bulk Cargo', 'sub_title' => '', 'summary' => 'January 7: The government had a plan to integrate all the customs offices at the Integrated Check Post (ICP) of Birgunj, once it came into operation. ', '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 7: The government had a plan to integrate all the customs offices at the Integrated Check Post (ICP) of Birgunj, once it came into operation. It has been three years since the ICP has been used for import and export of goods but the government has not fulfilled its plan.</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"">Birgunj currently has the ICP, Birgunj Dry Port and Inarwa (Birgunj) Customs for the import and export of goods. The government was planning to convert the Birgunj Customs into passenger transit point after the ICP came into operation. It has been once year since the government decided to integrate the Dry Port with the ICP. However, the decision is yet to materialize due to poor infrastructure and ambiguous instructions.</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 importers involved in bringing in bulk cargo from Birgunj Customs have demanded a separate lane at the ICP. At present, most of the bulk cargo enter Nepal from India’s Raxaul through the friendship bridge.</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"">General Secretary of Birgunj Chamber of Commerce Madhav Rajpal says that the decision to integrate the Birgunj Customs with the ICP cannot take place unless the government makes a provision to transfer the cargo brought from Raxaul through train to the ICP.</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"">Clinker, gypsum, coal, salt, iron and some amount of petroleum products enter Nepal through Raxaul. Birgunj Customs informed that a total of 51 racks of goods entered Nepal through Raxaul in December.</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"">Kamal Gyawali, chief of Nepal Intermodal Transport Development Committee (NTDC), which operates the ICP, informed that the ICP has started works to expand the infrastructures like parking lot and warehouse but they do not yet have any plan to have a separate lane for bulk cargo. </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 ICP has five lanes for import and export. Customs officer Ramesh Sukmani says that the problem has surfaced because the same lane is used for entry and exit of goods. Sukmani says that the plan to integrate Birgunj Customs with the ICP could not take place due to lack of adequate infrastructure.</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 foreign trade has already been shifted from to the ICP from the Birgunj Customs. However, the entry of bulk cargo is still taking place from the old customs point,” says Sukmani.</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 ICP lacks adequate infrastructure to allow the entry of bulk cargo,” he added.</span></span></span></span></p> <p> </p> ', 'published' => true, 'created' => '2021-01-07', 'modified' => '2021-01-07', 'keywords' => '', 'description' => '', 'sortorder' => '12652', 'image' => '20210107010829_1609973629.Clipboard16.jpg', 'article_date' => '2021-01-07 13:07:54', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 2 => array( 'Article' => array( 'id' => '12904', 'article_category_id' => '1', 'title' => 'Price of Chicken Increases by 54 Percent', 'sub_title' => '', 'summary' => 'January 7: The price of broiler chicken has increased by 54 percent after the government lifted lockdown in the country. ', '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 7: The price of broiler chicken has increased by 54 percent after the government lifted lockdown in the country. The price hike is attributed to the increase in consumption after hotels, restaurants and party palaces started reopening post-lockdown.</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 the entrepreneurs involved in meat business in Nepal, the price of chicken was Rs 240 per kilogram in early September. The current price of chicken is Rs 370 per kg.</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 consumption of meat had dropped to 30 percent during the lockdown period. Now the consumption has increased to 60 percent compared to normal times, says Jung Bahadur BC, chairman of the Meat Entrepreneurs Association of Nepal.</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"">BC added that the price of chicken has also increased because the production is low in winter season. As farmers have started producing less amount of chichen, Nepal Hatchery Industry Association has also lowered the production of eggs, added BC.</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"">During normal circumstances, the hatchery industry of Nepal used to produce 4.2 million chicks but now the production is down to 3.2 million.</span></span></span></span></p> <p> </p> ', 'published' => true, 'created' => '2021-01-07', 'modified' => '2021-01-07', 'keywords' => '', 'description' => '', 'sortorder' => '12651', 'image' => '20210107122731_Crispy-Fried-Chicken_EXPS_FRBZ19_6445_C01_31_3b-2 2.jpg', 'article_date' => '2021-01-07 12:26:58', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => false, 'user_id' => '34' ) ), (int) 3 => array( 'Article' => array( 'id' => '12903', 'article_category_id' => '1', 'title' => 'Government on High Alert following Outbreak of Bird Flu in India', 'sub_title' => '', 'summary' => 'January 7: The government has tightened the border with India after the southern neighbor reported deaths in poultry farms since last week due to bird flu.', '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 7: The government has tightened the border with India after the southern neighbor reported deaths in poultry farms since last week due to bird flu. </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 Ministry of Agriculture and Livestock Development informed that they have decided to step up measures in the border points with India to prevent an outbreak of the disease here in Nepal.</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 ministry has instructed the District Livestock Offices in terai districts to adopt safety measures to avoid the disease from spreading, informed Dr Shree Ram Ghimire, spokesperson at the ministry.</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 Dr Ghimire, the ministry has asked the district offices and local units to inform it if they require additional manpower and machineries to curb the possible spread of the disease.</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 Department of Livestock has also started making preparations to prevent the disease from entering the country and to minimize its impact if in case the disease surfaces in Nepal.</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"">Information Officer at the department Dr Chandra Dhakal informed that they will hold discussions on Thursday (January 7) to seek measures in order to avoid the disease from entering the country.</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"">Bird flu has affected states like Himanchal Pradesh in the north to Kerala in the south as well as other areas like Indore, Haryana. The state governments have issued high alert in the affected areas and adopted emergency measures to curb the disease.</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 the BBC, thousands of birds have started dying in India due to bird flu. Shops selling poultry products have closed in some districts. Authorities have reportedly banned the sale of eggs as well.</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"">BBC further reported that more than 2,400 migratory ducks that arrived in Himanchal Pradesh from Siberia and Mongolia have been found dead. Meanwhile, authorities have culled 12,000 ducks and 36,000 birds of other species in Kerala state.</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 had first reported bird flu in 2009 while the country had to bear massive loss in 2013. Altogether 201 poultry farms in Kathmandu, Chitwan, Dhadhing, Jhapa and Kailali were affected in 2013.</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"">Officials at the agriculture ministry claim that the disease will not spread easily in Nepal. However, authorities are worried because of the close proximity with India. They suspect people in the border area might smuggle chicken from India taking advantage of the porous border and the low price of chicken in India.</span></span></span></span></p> ', 'published' => true, 'created' => '2021-01-07', 'modified' => '2021-01-07', 'keywords' => '', 'description' => '', 'sortorder' => '12650', 'image' => '20210107114529_1609973535.Clipboard17.jpg', 'article_date' => '2021-01-07 11:44:58', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => false, 'user_id' => '34' ) ), (int) 4 => array( 'Article' => array( 'id' => '12902', 'article_category_id' => '1', 'title' => 'Import of Generators up by 350 Percent ', 'sub_title' => '', 'summary' => 'January 6: While the increasing problem of power cuts in different parts of the country has given a glimpse of load shedding, the import of generators used as an alternative to electricity has also skyrocketed. ', 'content' => '<p><span style="font-size:11pt"><span style="font-family:Calibri"><span style="font-size:14.0pt"><span style="font-family:"Times New Roman"">January 6: While the increasing problem of power cuts in different parts of the country has given a glimpse of load shedding, the import of generators used as an alternative to electricity has also skyrocketed. </span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri"><span style="font-size:14.0pt"><span style="font-family:"Times New Roman"">According to the data released by the Department of Customs, the import of generators has increased by 350 percent in the first five months of the current fiscal year as compared to the previous year. </span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri"><span style="font-size:14.0pt"><span style="font-family:"Times New Roman"">In the first five months of the current fiscal year, a total of 707 units of generators have been imported into the country. Last year, only 154 units of generators were imported. </span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri"><span style="font-size:14.0pt"><span style="font-family:"Times New Roman"">During this period, the import of battery has also increased by 77 percent. However, the import of inverters seems to have declined. According to the department, the import of inverters had come down from 56 units to 50 units last year, but only 29 units have been imported this year. </span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri"><span style="font-size:14.0pt"><span style="font-family:"Times New Roman"">Director General of the Department, Suman Dahal, confirmed that the import of generators has increased. He said, "Whether it is due to rumors of load shedding or other reasons, the import of generators has increased compared to last year." </span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri"><span style="font-size:14.0pt"><span style="font-family:"Times New Roman"">The Nepal Electricity Authority (NEA) has issued a statement twice saying that there will be no load shedding as the public started doubting if there would be load shedding like before. </span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri"><span style="font-size:14.0pt"><span style="font-family:"Times New Roman"">Last week, the NEA had issued a statement informing that there will be power cuts in some places of Lalitpur to reduce power load. However, it issued another statement later saying that power cuts due to technical problems, repair works and due to the winter season is a normal phenomena while there isn’t any plan for load shedding.</span></span></span></span></p> <p> </p> ', 'published' => true, 'created' => '2021-01-06', 'modified' => '2021-01-06', 'keywords' => '', 'description' => '', 'sortorder' => '12649', 'image' => '20210106034059_10k2.jpg', 'article_date' => '2021-01-06 15:40:27', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 5 => array( 'Article' => array( 'id' => '12901', 'article_category_id' => '1', 'title' => 'Industrialists Warn of Chain Effect of Rise in Transportation Cost ', 'sub_title' => 'Industrialists warn of chain effect of price hike', 'summary' => 'January 6: The rise in transportation cost of daily essentials and raw materials coming from third countries is expected to increase inflation in the domestic market of Nepal.', 'content' => '<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:12.0pt"><span style="font-family:"Arial Unicode MS"">January 6: The rise in transportation cost of daily essentials and raw materials coming from third countries is expected to increase inflation in the domestic market of Nepal.</span></span></span></span></p> <p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:12.0pt"><span style="font-family:"Arial Unicode MS"">Industrialists say that the hike in transportation cost of mustard and soybean oil as well as plastic, coal, iron and other raw materials required for the industrial sector is certain to impact the local market of the country.</span></span></span></span></p> <p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:12.0pt"><span style="font-family:"Arial Unicode MS"">The transportation cost of one ton of plastic has been increased by $400. The transportation cost which was $800 per ton has not reached as high as $1200 for plastic, says operator of Bagmati Plastic Nanda Kishor Rathi.</span></span></span></span></p> <p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:12.0pt"><span style="font-family:"Arial Unicode MS"">According to Rathi, the increase in transportation cost has forced them to raise the price of plastic products by Rs 8 to Rs 10 per kilogram. Around 16 to 17 tons of plastic is imported in one container. The UAE, South Africa, Singapore and India supplies plastics to Nepal.</span></span></span></span></p> <p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:12.0pt"><span style="font-family:"Arial Unicode MS"">The transshipment cost from China has also skyrocketed. The cost of transporting goods using a 40-feet container was US$ 1600, which has not climbed to US$ 5400.</span></span></span></span></p> <p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:12.0pt"><span style="font-family:"Arial Unicode MS"">The importers have been forced to hold their goods due to the sudden hike in transportation cost.</span></span></span></span></p> <p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:12.0pt"><span style="font-family:"Arial Unicode MS"">Former chairman of Morang Chamber of Commerce Pawan Sharada says that the shipping companies have been increasing fare arbitrarily citing coronavirus pandemic. Goods that used to arrive within 15 to 20 days now take between 30 to 40 days to arrive. This has also resulted in shortage of raw materials in the country.</span></span></span></span></p> <p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:12.0pt"><span style="font-family:"Arial Unicode MS"">The impact has already been felt in the prices of edible oil, electronic goods, industrial raw materials among others. The price of edible oil has already increased by Rs 10 per litre while utensils made of iron, plastics as well as cement are also increasing.</span></span></span></span></p> <p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:12.0pt"><span style="font-family:"Arial Unicode MS"">According to Rathi, the increase in price of plastics has had a chain effect which is evident from the price hike of packaging materials. Once the price of packaging materials goes up, the prices of all industrial products also get hiked, says Rathi. </span></span></span></span></p> ', 'published' => true, 'created' => '2021-01-06', 'modified' => '2021-01-06', 'keywords' => '', 'description' => '', 'sortorder' => '12648', 'image' => '20210106023229_1609887800.Clipboard06.jpg', 'article_date' => '2021-01-06 14:31:48', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => false, 'user_id' => '34' ) ), (int) 6 => array( 'Article' => array( 'id' => '12900', 'article_category_id' => '1', 'title' => 'Stakeholders Protest Government’s Decision to Open Agriculture Sector for Foreign Investment', 'sub_title' => '', 'summary' => 'January 6: Entrepreneurs involved in the agriculture business have decided to move court against the government’s decision to allow foreign investment in Nepal’s agriculture sector.', '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 6: Entrepreneurs involved in the agriculture business have decided to move court against the government’s decision to allow foreign investment in Nepal’s agriculture 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"">The entrepreneurs are ready for a legal battle after the Ministry of Industry, Commerce and Supplies on Monday published the decision in the Nepal Gazette.</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"">Organising a joint press conference in the capital on Tuesday, Nepal Dairy Association, Dairy Industries Association, Central Dairy Cooperatives Association, Central Livestock and Animal Husbandry Cooperatives Association and Nepal Fishery Entrepreneurs Association informed that they will file a case against the government decision to open foreign investment in Nepal’s agriculture 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"">They claimed that the decision taken by the government is against the welfare of farmers because the private sector has invested billions of rupees in the agriculture sector. They also denounced the government for taking such vital decision without consulting with the stakeholders.</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"">They added that the government’s decision is likely to cause a major impact on Nepal’s economy.</span></span></span></span></p> <p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:"Arial Unicode MS"">Chairman of Dairy Industries Association Raj Kumar Dahal confirmed that the stakeholders have decided to challenge the government’s decision in court.</span></span></span></span></p> <p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:"Arial Unicode MS"">“We decided to move the court after consulting with legal practitioners,” said Dahal.</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 also warned that they will stage demonstrations at Maitighar Mandala on Thursday and extend the protest programmes across the country if the government does not withdraw 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"">The parliament had concluded on March 27, 2019 that the country should not open its agriculture sector for foreign investment. However, taking advantage of political instability at a time when the parliament has been dissolved, the government recently took a wrong decision, according to stakeholders.</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 private sector has invested Rs 4 billion in rearing bees, Rs 11 billion in fishery, Rs 30 billion in dairy industry, and 40 billion in poultry farming. The local investment in agriculture sector has provided employment to 1.5 million people, according to government records.</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"">Entrepreneurs involved in the agriculture sector have urged the government not to implement its decision arguing that foreign investment would destroy the country’s agriculture 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"">However, government officials say that the decision taken by the government will be beneficial for the farmers.</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"">Joint Secretary at the Ministry of Industry, Commerce and Supplies Urmila KC said opening foreign investment in the agriculture sector will diversify the sector and promote new technologies which in turn will benefit the farmers.</span></span></span></span></p> <p> </p> <p> </p> ', 'published' => true, 'created' => '2021-01-06', 'modified' => '2021-01-06', 'keywords' => '', 'description' => '', 'sortorder' => '12647', 'image' => '20210106123441_20201105020829_cover.jpg', 'article_date' => '2021-01-06 12:34:11', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 7 => array( 'Article' => array( 'id' => '12899', 'article_category_id' => '1', 'title' => 'Prices of Gold, Silver Up Again', 'sub_title' => '', 'summary' => 'anuary 6: The prices of gold and silver have increased in the domestic market of Nepal on Wednesday. ', '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 6: The prices of gold and silver have increased in the domestic market of Nepal on Wednesday. The price of gold increased by Rs 300 per tola (11 grams approx.), according to the Federation of Nepal Gold and Silver Dealers 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"">Fine gold is being traded for Rs 96,700 on Wednesday. The price of fine gold was Rs 96,400 on Tuesday.</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"">Similarly, the price of silver increased by Rs 5 on Wednesday, compared to the pervious day. Silver is being traded for Rs 1340 per 11 grams on Wednesday while the price of 11 grams of silver on Tuesday was Rs 1335.</span></span></span></span></p> <p> </p> ', 'published' => true, 'created' => '2021-01-06', 'modified' => '2021-01-06', 'keywords' => '', 'description' => '', 'sortorder' => '12646', 'image' => '20210106114926_Gold-Silver.jpg', 'article_date' => '2021-01-06 11:48:51', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => false, 'user_id' => '34' ) ), (int) 8 => array( 'Article' => array( 'id' => '12898', 'article_category_id' => '218', 'title' => 'NIFRA to Issue IPO from January 15', 'sub_title' => '', 'summary' => 'January 5: Nepal Infrastructure Bank Limited (NIFRA) has appointed NIBL Ace Capital Limited as its issue manager for the IPO issuance. ', 'content' => '<p><span style="font-size:20px"><span style="font-family:Calibri">January 5: Nepal Infrastructure Bank Limited (NIFRA) has appointed NIBL Ace Capital Limited as its issue manager for the IPO issuance. </span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri">The bank said in a statement that it is issuing IPO of 40 percent of its issued capital i.e. 80 million units worth Rs 8 billion. </span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri">The bank will be issuing its IPO from January 15 to 19. The bank claimed that it is the biggest IPO in the history of Nepal’s capital market.</span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri">NIFRA said its paid-up capital will be Rs 20 billion after the issuance of IPO. Out of the total paid-up capital of the bank, Rs 12 billion has been collected from the promoter shareholders while Rs 8 billion will be collected from the issuance of IPO.</span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri">Nepal Infrastructure Bank Limited (NIFRA) has been set up by Banks and Financial Institutions (BFIs), Life and Non-life Insurance companies and other leading entities of the private sector in joint participation with the Government of Nepal. </span></span></p> <p> </p> ', 'published' => true, 'created' => '2021-01-05', 'modified' => '2021-01-05', 'keywords' => '', 'description' => '', 'sortorder' => '12645', 'image' => '20210105042837_20190101042956_IPO.jpg', 'article_date' => '2021-01-05 16:28:00', 'homepage' => false, 'breaking_news' => false, 'main_news' => false, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 9 => array( 'Article' => array( 'id' => '12896', 'article_category_id' => '1', 'title' => 'Government Unable to Meet its Revenue Collection Target', 'sub_title' => '', 'summary' => 'January 5: The government faces an uphill battle to meet the revenue collection target set for the current fiscal year.', '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 5: </span></span><span style="font-size:14.0pt"><span style="font-family:"Arial Unicode MS"">The government faces an uphill battle to meet the revenue collection target set for the current 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"">The government is unlikely to meet its target due to the obstruction in the northern border and the meltdown of economic activities due to Covid-19 pandemic.</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 the Ministry of Finance, the government is short of Rs 2 billion in meeting the target of customs duty collection as of mid-December. Likewise, it is lagging behind by Rs 25 billion in tax collection and by Rs 12.18 billion in non-tax collection compared to its target.</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"">As of mid-December, the government has collected Rs 39 billion less revenue that its target.</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"">Officials at the ministry were expecting an increase in import during the current crisis but instead the import of certain goods declined. That also posed a challenge for the government to meet its revenue collection target.</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"">Finance ministry officials say that the government’s failure to expedite development works and construction led to a decline in import of construction materials, equipment and petroleum products. This in turn resulted in low revenue collection.</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 government is under pressure for a mid-term review of its revenue collection target. It needs to set a new target and a new approach to meet the target, according to officials at the ministry. </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"">“It is still not certain when the obstruction in northern border and the Covid-19 crisis will end. This has directly impacted revenue collection,” said chief of the Revenue Department Rameshwar Dangal.</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 him, the government has not been able to meet the target of revenue collection in all fronts including customs duty, tax and non-tax. </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"">Dangal further said that the collection of taxes from the tourism industry and educational institutions has been completely halted for the time being. Likewise, revenue collection from the customs points of Rasuwagadhi and Tatopani has been affected since the start of the current fiscal year. Hundreds of containers have been stranded across the border while only a limited number of containers are allowed to enter Nepal on a daily basis. Finance Ministry has requested the Ministry of Foreign Affairs and the Ministry of Industry, Commerce and Supplies to make efforts to reopen the northern border but the uncertainty regarding reopening the border still persists.</span></span></span></span></p> <p> </p> ', 'published' => true, 'created' => '2021-01-05', 'modified' => '2021-01-05', 'keywords' => '', 'description' => '', 'sortorder' => '12644', 'image' => '20210105024513_20200327032654_5003_finance-ministy.jpg', 'article_date' => '2021-01-05 14:44:38', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 10 => array( 'Article' => array( 'id' => '12897', 'article_category_id' => '1', 'title' => 'Revenue Collection from Petroleum Products Up Despite a Decline in Import ', 'sub_title' => '', 'summary' => 'January 5: The import of fuel has declined this year compared to last year. However, the revenue collection from the import of fuel has increased this year.', '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 5: The import of fuel has declined this year compared to last year. However, the revenue collection from the import of fuel has increased this 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"">The revenue collection from diesel and petrol increased despite less import because the government increased the customs duty on these to products, that are the major source of government income.</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 the Birgunj Customs Office from where maximum amount of petroleum products enter the country, the import of both diesel and petrol has declined in the first eight months of the current fiscal year. The import of diesel and petrol is less this year compared to 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"">But the customs duty from petroleum products has gone up despite low import compared to last year, informed Mahesh Acharya, chief of Birgunj Customs Office. He said that the revenue collection increased after the government raised customs duty on petrol and diesel.</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 government has fixed a customs duty of Rs 12,000 for one kiloliter of diesel. Last year, the customs duty for the same amount of diesel was only Rs 2,000. Similarly, the government increased the customs duty on petrol from Rs 15,200 per kiloliter to Rs 25,200 per kiloliter, according to Acharya.</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 customs duty on diesel and petrol have been increased this year compared to last fiscal year. This has resulted in more revenue collection despite a decrease in volume of import,” said Acharya.</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 total of 361,000 kiloliters of diesel worth Rs 15.96 billion were imported through Birgunj customs in the first five months of the current fiscal year. During the corresponding period of last fiscal year, 383,000 kiloliters of diesel worth Rs 24.68 billion were imported through the same customs point.</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"">While the import of diesel decreased by six percent, the customs duty increased by 67 percent.</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"">Birgunj Customs collected Rs 7.9 billion in the first eight months of last fiscal year from the import of diesel. Revenue collection from diesel during the corresponding period of the current fiscal year was Rs 11.83 billion. </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 import of petrol has also declined this year to 129,000 KL from 155,000 KL last year. But the revenue collection from petrol has increased by Rs 1 billion.</span></span></span></span></p> <p> </p> ', 'published' => true, 'created' => '2021-01-05', 'modified' => '2021-01-05', 'keywords' => '', 'description' => '', 'sortorder' => '12643', 'image' => '20210105041736_1609803215.Clipboard06a.jpg', 'article_date' => '2021-01-05 16:16:58', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 11 => array( 'Article' => array( 'id' => '12895', 'article_category_id' => '1', 'title' => 'Capacity of Dhalkebar Substation Increased with Additional Transformer', 'sub_title' => '', 'summary' => 'January 5: Nepal Electricity Authority (NEA) has installed an additional transformer of 315 MVA capacity at its Dhalkebar substation, the largest substation in the country.', 'content' => '<p><span style="font-size:12pt"><span style="font-family:Cambria"><span style="font-size:14.0pt"><span style="font-family:Calibri">January 5: Nepal Electricity Authority (NEA) has installed an additional transformer of 315 MVA capacity at its Dhalkebar substation, the largest substation in the country. NEA installed the transformer to upgrade the substation.</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:Calibri">The newly added transformer has been brought into operation from Monday, January 4. Now the total capacity of the transformers of the substation is 635 MVA. Earlier, the substation had 2 transformers of 220 kV and 132 kV with a total capacity of 320 MVA. NEA spokesperson Madan Timsina informed that work is also underway to add another transformer at the substation.</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:Calibri">With the addition of transformers, an additional 100 MW of electricity can be imported from India. Currently, 250 MW of electricity can be imported through the substation. </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:Calibri">Electricity is being imported to the substation through Dhalkebar-Muzaffarpur transmission line.</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:Calibri">A power purchase agreement (PPA) was signed with NTPC Vidyut Nigam Limited (NVVN) of India to bring electricity using the transmission line.</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:Calibri">According to the PPA, NEA can import 250 MW of electricity from July to November and 350 MW from December to April through the same transmission line. </span></span></span></span></p> <p> </p> ', 'published' => true, 'created' => '2021-01-05', 'modified' => '2021-01-05', 'keywords' => '', 'description' => '', 'sortorder' => '12642', 'image' => '20210105010101_20200818043659_1597700431.Clipboard08.jpg', 'article_date' => '2021-01-05 13:00:28', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 12 => array( 'Article' => array( 'id' => '12894', 'article_category_id' => '1', 'title' => 'Chemical Fertilizer from Bangladesh to Arrive after 1 Month', 'sub_title' => '', 'summary' => 'January 5: Chemical fertilizer which the government intends to bring from Bangladesh under a G2G deal will take one more month to arrive in the country.', 'content' => '<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:16.0pt"><span style="font-family:"Arial Unicode MS"">January 5: Chemical fertilizer which the government intends to bring from Bangladesh under a G2G deal will take one more month to arrive in the country.</span></span></span></span></p> <p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:16.0pt"><span style="font-family:"Arial Unicode MS"">The Agriculture Inputs Company Limited has completed all the processes to import 50,000 metric tons of urea from Bangladesh and has already written a formal letter to the neighbouring country in this regard. Bangladesh approved the letter on Monday (January 4) eighteen days after the two countries signed the agreement. This has paved way for Nepal to open a Letter of Credit (LC) to procure the fertilizer.</span></span></span></span></p> <p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:16.0pt"><span style="font-family:"Arial Unicode MS"">The Agriculture Inputs Company, which has been handed over the responsibility of importing the fertilizer, informed that it will open LC by coming Wednesday (January 6).</span></span></span></span></p> <p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:16.0pt"><span style="font-family:"Arial Unicode MS"">According to Bishnu Pokharel, chief of the purchase division of the company, Bangladesh Chemical Industries Corporation will start supplying the fertilizers ten days after Nepal opens the LC.</span></span></span></span></p> <p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:16.0pt"><span style="font-family:"Arial Unicode MS"">It will then take around one more month for the fertilizer to arrive in Nepal.</span></span></span></span></p> <p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:16.0pt"><span style="font-family:"Arial Unicode MS"">Spokesperson at the Ministry of Agriculture and Livestock Development Dr Shree Ram Ghimire informed that the procurement process got delayed due to the delay in responding to the letter by Bangladesh.</span></span></span></span></p> <p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:16.0pt"><span style="font-family:"Arial Unicode MS"">Nepal had signed an agreement for the procurement of fertilizer with Bangladesh on December 17.</span></span></span></span></p> <p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:16.0pt"><span style="font-family:"Arial Unicode MS"">The process was also delayed because Bangladesh decided to supply the fertilizer after procuring it from a private company instead of sending its stock. However, Nepal had signed the agreement to purchase fertilizer produced by the state-owned company of Bangladesh.</span></span></span></span></p> <p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:16.0pt"><span style="font-family:"Arial Unicode MS"">The Agriculture Inputs Company Limited informed that Bangladesh too had to go through the process of opening an LC, due to which the delivery got delayed.</span></span></span></span></p> <p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:16.0pt"><span style="font-family:"Arial Unicode MS"">The Agriculture Inputs Company Limited says that the delay in import will not cause any problem as it has adequate stock of urea at the moment. The company said it has a stock of 8,000 metric tons of urea, 8,000 metric tons of DAP and 9,000 metric tons of Potassium at present.</span></span></span></span></p> <p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:16.0pt"><span style="font-family:"Arial Unicode MS"">Similarly, the Salt Trading Corporation has a stock of 22,000 metric tons of urea, 13,000 metric tons of DAP and 5,000 metric tons of Potassium.</span></span></span></span></p> <p> </p> ', 'published' => true, 'created' => '2021-01-05', 'modified' => '2021-01-05', 'keywords' => '', 'description' => '', 'sortorder' => '12641', 'image' => '20210105121301_20200817122726_1597613093.Clipboard02.jpg', 'article_date' => '2021-01-05 12:12:23', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 13 => array( 'Article' => array( 'id' => '12893', 'article_category_id' => '266', 'title' => 'Nepal SBI Bank Customers to get Discount at Hotel Barahi', 'sub_title' => '', 'summary' => 'January 1: Nepal SBI Bank has signed a Memorandum of Understanding (MoU) with Hotel Barahi, Pokhara to provide discount on various services provided by the hotel. ', 'content' => '<p><span style="font-size:11pt"><span style="font-family:Calibri"><span style="font-family:Arial">January 1: Nepal SBI Bank has signed a Memorandum of Understanding (MoU) with </span><span style="font-family:Arial">Hotel Barahi, Pokhara</span><span style="font-family:Arial"> to provide discount on various services</span><span style="font-family:Arial"> provided by the hotel</span><span style="font-family:Arial">. </span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri"><span style="font-family:Arial">According to the bank, its customers can avail the benefits </span><span style="font-family:Arial">by</span><span style="font-family:Arial"> using </span><span style="font-family:Arial">NSBL</span><span style="font-family:Arial"> debit cards at </span><span style="font-family:Arial">Hotel Barahi</span><span style="font-family:Arial">.</span> </span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri"><span style="font-family:Arial">The MoU was signed by Chhapi Raj Pant, Chief Business Development Officer of NSBL, and Buddhi Man Sharma, Operation Manager of Hotel Barahi.</span></span></span></p> ', 'published' => true, 'created' => '2021-01-04', 'modified' => '2021-01-04', 'keywords' => '', 'description' => '', 'sortorder' => '12640', 'image' => '20210104015548_My Effect.jpg', 'article_date' => '2021-01-04 13:55:09', 'homepage' => false, 'breaking_news' => false, 'main_news' => false, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 14 => array( 'Article' => array( 'id' => '12890', 'article_category_id' => '1', 'title' => 'BFIs Submit Bids worth Billions in Response to NRB’s Mopping Initiative', 'sub_title' => '', 'summary' => 'January 4: Banks and financial institutes (BFIs) have made bids worth billions of rupees in compliance to the financial instruments issued by the central bank to mop excess of liquidity from the banking system.', 'content' => '<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt">January 4: Banks and financial institutes (BFIs) have made bids worth billions of rupees in compliance to the financial instruments issued by the central bank to mop excess of liquidity from the banking system.</span></span></span></p> <p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt">Nepal Rastra Bank (NRB) has issued short-term reverse repo of Rs 110 billion four times in the current fiscal year. BFIs have made biddings of Rs 278.25 billion for the reverse repo.</span></span></span></p> <p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt">The central bank has also issued deposit collection instruments worth Rs 160 billion with maturity period of 28 days for 5 times as of December 31, 2020 to mop excess of liquidity. NRB has received biddings of Rs 333.2 billion for those instruments.</span></span></span></p> <p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt">Of late, banks have become willing to send their money to the central bank even at a low rate of interest. There is excess of liquidity in the banking system due to low demand for loans at present. Instead of stockpiling the money, BFIs are willing to transfer the cash to the central bank reserve in return for nominal interest.</span></span></span></p> <p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt">Banks have made submitted bids to the central bank expressing their quotation of maximum interest rate of 1.5411 percent and a minimum of 0.2060 percent for the reverse repo with maturity period of one week.</span></span></span></p> <p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt">The central bank has said that excess of liquidity in the market can result in low interest rate which in turn will deter savings, and may also cause inflation.</span></span></span></p> <p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt">In order to avoid such a situation, the central bank has issued financial instruments to mop excess of liquidity.</span></span></span></p> <p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt">At present, the banking system has excess liquidity of Rs 176 billion, according to the central bank. Stating that the refinancing provision has resulted in excess liquidity, NRB Spokesperson Dr Gunakar Bhatta said that the central bank has already mopped Rs 60 billion from banks.</span></span></span></p> <p> </p> ', 'published' => true, 'created' => '2021-01-04', 'modified' => '2021-01-04', 'keywords' => '', 'description' => '', 'sortorder' => '12639', 'image' => '20210104113755_1609629473.Clipboard07.jpg', 'article_date' => '2021-01-04 11:37:24', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ) ) $current_user = null $logged_in = false $xml = falsesimplexml_load_file - [internal], line ?? include - APP/View/Elements/side_bar.ctp, line 133 View::_evaluate() - CORE/Cake/View/View.php, line 971 View::_render() - CORE/Cake/View/View.php, line 933 View::_renderElement() - CORE/Cake/View/View.php, line 1224 View::element() - CORE/Cake/View/View.php, line 418 include - APP/View/Articles/index.ctp, line 157 View::_evaluate() - CORE/Cake/View/View.php, line 971 View::_render() - CORE/Cake/View/View.php, line 933 View::render() - CORE/Cake/View/View.php, line 473 Controller::render() - CORE/Cake/Controller/Controller.php, line 968 Dispatcher::_invoke() - CORE/Cake/Routing/Dispatcher.php, line 200 Dispatcher::dispatch() - CORE/Cake/Routing/Dispatcher.php, line 167 [main] - APP/webroot/index.php, line 117
| Currency | Unit |
Buy | Sell |
| U.S. Dollar | 1 | 121.23 | 121.83 |
| European Euro | 1 | 131.65 | 132.31 |
| UK Pound Sterling | 1 | 142.47 | 143.18 |
| Swiss Franc | 1 | 124.29 | 124.90 |
| Australian Dollar | 1 | 71.69 | 72.05 |
| Canadian Dollar | 1 | 83.90 | 84.32 |
| Japanese Yen | 10 | 10.94 | 11.00 |
| Chinese Yuan | 1 | 17.17 | 17.26 |
| Saudi Arabian Riyal | 1 | 32.27 | 32.43 |
| UAE Dirham | 1 | 33.01 | 33.17 |
| Malaysian Ringgit | 1 | 27.36 | 27.50 |
| South Korean Won | 100 | 9.77 | 9.82 |
Update: 2020-03-25 | Source: Nepal Rastra Bank (NRB)
| Fine Gold | 1 tola | 77000.00 |
| Tejabi Gold | 1 tola | 76700.00 |
| Silver | 1 tola | 720.00 |
Update : 2020-03-25
Source: Federation of Nepal Gold and Silver Dealers' Association
| Petrol | 1 Liter | 106.00 |
| Diesel | 1 Liter | 95.00 |
| Kerosene | 1 Liter | 95.00 |
| LP Gas | 1 Cylinder | 1375.00 |
Update : 2020-03-25
