December 31: The government has started preparations to export citric fruits to China as per an understanding reached with the Chinese government last…
December 31: The government has started preparations to export citric fruits to China as per an understanding reached with the Chinese government last…
December 31: The impact of Covid-19 on Nepal’s economy has been less severe than expected, according to Nepal Rastra Bank’s Governor Maha Prasad…
December 31: The Government of Nepal has signed a $156 million (Rs 18.25 billion) deal with the Asian Development Bank (ADB) for concessional loan to modernize power transmission and distribution systems in the…
December 30: Bankers have accused that Nepal Rastra Bank has not been able to introduce stable policies.…
December 30: Ncell Axiata Limited, as a part of its #unpause campaign and GGO initiative, has tied-up with Brave Bold Beautiful Pvt Ltd for ‘Miss Universe Nepal 2020’.…
December 30: The physical infrastructure of the Nepal-India Integrated Check Post (ICP) in Birgunj has been expanded following an increase in volume of import and export at the transit…
December 30: The Koshi Agreement signed between Nepal and India 64 years ago states that India has to pay value added tax while working in Nepali territory.…
December 30: India has decided to lift a ban imposed on export of onion.…
December 30: The website of Kalimati Fruits and Vegetables Development Board has been hacked since one…
December 29: Coronavirus has adversely affected the entire economy but the smartphone market is flourishing amid current…
December 29: The production of paddy has increased in the current fiscal by almost 71,000 metric tons compared to the last fiscal…
December 29: Entrepreneurs have jointly demanded relief package with the government for the revival of economy that has been badly affected by the coronavirus…
December 29: The profit of Nepal Oil Corporation has increased despite a decline in fuel consumption due to the effect of coronavirus, the state-run national news agency…
December 29: The government is preparing to open the agriculture sector of Nepal for foreign investment after a lengthy discussion regarding this…
December 29: Sugarcane farmers have postponed their two-weeks of protests in the capital after signing an agreement with the government for the payment of their…
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However, the delay in the process has pushed back the export but it will take place within the current fiscal year, claimed the agriculture 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"">“We are working continuously to begin the process of export. I am certain that the export to China’s Tibet will take place soon even if it is just for the testing phase,” said Yogendra Kumar Karki, secretary at the agriculture ministry, adding that the process of export is heading to the right direction even though it has been delayed. Secretary Karki believes that the export will begin soon.</span></span></span></span></p> <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 as well as Nepal Agriculture Research Council and other concerned agencies are making efforts to export citric fruits to China.</span></span></span></span></p> <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 is also facilitating the process among orange farmers, businessmen and Chinese agents.</span></span></span></span></p> <p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:"Arial Unicode MS"">Earlier, Nepal had signed a similar agreement with China in 2012 for the export of citric fruits. However, Nepal could not export the fruits due to a clause which demanded that the products should be grown in fields that are free from pests and diseases. The latest agreement has only demanded fruits free from 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"">If the standard maintained by Nepal is approved by China, the country will be exporting 200 to 300 metric tons of fruits soon, informed Devraj Adhikari, chief of the Prime Minister Agriculture Modernization Project, Sindhuli. He added that if the export in the testing phase becomes successful, they will increase commercial production for export.</span></span></span></span></p> <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 per the provision in the agreement, Nepal should store the fruits at a certain temperature for 21 days and also needs to transport them in vehicles with cold storage facility. These technologies are the major challenges for Nepal.</span></span></span></span></p> <p> </p> ', 'published' => true, 'created' => '2020-12-31', 'modified' => '2020-12-31', 'keywords' => '', 'description' => '', 'sortorder' => '12623', 'image' => '20201231121240_20190220125347_aaa.jpg', 'article_date' => '2020-12-31 12:12:09', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 1 => array( 'Article' => array( 'id' => '12875', 'article_category_id' => '1', 'title' => 'Impact of Covid-19 not as Severe as Expected: NRB Governor', 'sub_title' => '', 'summary' => 'December 31: The impact of Covid-19 on Nepal’s economy has been less severe than expected, according to Nepal Rastra Bank’s Governor Maha Prasad Adhikari.', '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"">December 31: The impact of Covid-19 on Nepal’s economy has been less severe than expected, according to Nepal Rastra Bank’s Governor Maha Prasad Adhikari.</span></span></span></span></p> <p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:"Arial Unicode MS"">Speaking with the new executive committee members of the Nepalese Association of Financial Journalists (NAFIJ) during a virtual meeting on Wednesday (December 30), Governor Adhikari said that the financial activities of most of the sectors except a few are satisfactory at present and that the economy will witness financial in the coming days.</span></span></span></span></p> <p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:"Arial Unicode MS"">Governor Adhikari said that only 6 percent industries were fully operational in the month of Jestha (mid-May to mid-June) while the up to 57 percent industries are fully operational now. This will have a positive effect on the economy, added Adhikari.</span></span></span></span></p> <p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:"Arial Unicode MS"">Governor Adhikari further said that the flow of loan from the banking sector has increased this winter. He claimed that the high liquidity of banks will now come in good use with the increase in flow of loan. </span></span></span></span></p> <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 said that the central bank opened forms for refinancing only three months ago and the submissions were approved only in the month of Kartik (mid-October to mid-November). He added that the work procedure for economic revival was approved the following month and therefore it is still now clear how much contributions did a particular bank made. </span></span></span></span></p> <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 added that the central bank has so far approved refinancing of Rs 81 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"">“So far, we have approved a total of 81 billion refinancing to 41,000 debtors. Among them, more than 33,000 borrowers are entitled to refinancing facility for small loan of less than Rs 1.5 million,” said Governor Adhikari.</span></span></span></span></p> <p> </p> ', 'published' => true, 'created' => '2020-12-31', 'modified' => '2020-12-31', 'keywords' => '', 'description' => '', 'sortorder' => '12622', 'image' => '20201231114842_20201211011108_20200407080848_IMG_4955 - Copy.JPG', 'article_date' => '2020-12-31 11:48:04', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 2 => array( 'Article' => array( 'id' => '12874', 'article_category_id' => '1', 'title' => 'Government Signs $156 Million Deal with ADB for Modernization of Power Transmission ', 'sub_title' => '', 'summary' => 'December 31: The Government of Nepal has signed a $156 million (Rs 18.25 billion) deal with the Asian Development Bank (ADB) for concessional loan to modernize power transmission and distribution systems in the country.', 'content' => '<p><span style="font-size:12pt"><span style="font-family:Calibri"><span style="font-size:14.0pt"><span style="font-family:Arial">December 31: The Government of Nepal has signed a $156 million (Rs 18.25 billion) deal with the Asian Development Bank (ADB) for concessional loan to </span></span><span style="font-size:14.0pt"><span style="font-family:Arial">modernize power transmission and distribution systems in the country.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:Calibri"><span style="font-size:14.0pt"><span style="font-family:Arial">Joint Secretary at the Ministry of Finance Shree Krishna Nepal and </span></span><span style="font-size:14.0pt"><span style="font-family:Arial">Rudi Van Dael, officer-in-charge of ADB for Nepal, signed the agreement amid a function at the ministry on December 30. </span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:Calibri"><span style="font-size:14.0pt"><span style="font-family:Arial">Out of the total cost of Rs 22.81 billion required for the project, the ADB will fund Rs 18.25 billion while the Government of Nepal and the Nepal Electricity Authority will contribute Rs 4.56 billion, informed the ministry.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:Calibri"><span style="font-size:14.0pt"><span style="font-family:Arial">According to the ADB, the Electricity Grid Modernization Project will finance the automation of grid substations throughout the country, modernize distribution and transmission systems in various areas, complete the installation of smart meters in the Kathmandu Valley, and support sector reform and institutional strengthening of the Nepal Electricity Authority (NEA).</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:Calibri"><span style="font-size:14.0pt"><span style="font-family:Arial">ADB said in a statement that the project will, among others, automate 34 existing grid substations, install 220-kilovolt (kV) and 132-kV automated grid substations, construct a total of 113 kilometers (km) of new transmission lines, upgrade 144 km of existing transmission lines with efficient conductors, and expand the installation of smart meters for 350,000 electricity consumers in the Kathmandu Valley. An electricity distribution system command and control center in Kathmandu will also be constructed. </span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:Calibri"><span style="font-size:14.0pt"><span style="font-family:Arial"> “ADB has been actively involved in major policy and institutional reforms in the power sector, and this project is a continuation of our support to provide reliable and efficient electricity supply in the country,” the statement quoted ADB Principal Energy Specialist Jiwan Acharya as saying. “Moreover, this project will position Nepal to be better prepared in its post-pandemic economic rebuilding.”</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:Calibri"><span style="font-size:14.0pt"><span style="font-family:Arial">The concessional loan was approved by the ADB in late November, according to a statement published by the bank on November 27.</span></span></span></span></p> <p> </p> <p> </p> <p> </p> <p> </p> ', 'published' => true, 'created' => '2020-12-31', 'modified' => '2020-12-31', 'keywords' => '', 'description' => '', 'sortorder' => '12621', 'image' => '20201231111120_IMG_0867.jpg', 'article_date' => '2020-12-31 11:10:33', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => false, 'user_id' => '34' ) ), (int) 3 => array( 'Article' => array( 'id' => '12873', 'article_category_id' => '1', 'title' => 'Bankers ‘Not Happy’ with Central Bank’s Policies', 'sub_title' => '', 'summary' => 'December 30: Bankers have accused that Nepal Rastra Bank has not been able to introduce stable policies. ', '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"">December 30: Bankers have accused that Nepal Rastra Bank has not been able to introduce stable policies. </span></span></span></span></p> <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 a virtual meeting organized by Nepal Bankers Association during its annual general meeting on Tuesday (December 29), representatives of the Confederation of Banks and Financial Institutions of Nepal (CBFIN) said that the multiple amendments of the provisions of the monetary policy by the central bank was not appropriate. </span></span></span></span></p> <p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:"Arial Unicode MS"">Speaking at the virtual meeting, CBFIN Chairman Pawan Golyan said that the central bank’s decision to fix the service charge of 0.75 percent just because some banks were charging high service charge was not fair. This, according to Golyan, has caused problems for the BFIs for micro management.</span></span></span></span></p> <p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:"Arial Unicode MS"">Meanwhile, Governor of Nepal Rastra Bank Maha Prasad Adhikari said that the current policy of the central bank are aimed at the welfare of the sectors affected by Covid-19 while other provisions have not been changed in the current context.</span></span></span></span></p> <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 central bank’s policies are aimed at revitalizing the economy that has been badly affected by coronavirus. Our policies also compliment the state’s objective of achieving 7 percent economic growth,” said Governor Adhikari.</span></span></span></span></p> <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 argued that the latest measures taken by the central bank to remove some anomalies should not be considered as a shift in Nepal Rastra Bank’s policy.</span></span></span></span></p> <p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:"Arial Unicode MS"">Governor Adhikari informed that the demand for loan was low during the start of the current fiscal year but the flow of loan and deposit collection has improved now.</span></span></span></span></p> <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 central bank’s governor also stressed that the banking system should now go digital.</span></span></span></span></p> <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 Nepal Bankers Association Bhuvan Kumar Dahal said that it would take some more time for the country’s economy to return back to normalcy but there is a silver lining as most of the sectors have already started operating at the moment.</span></span></span></span></p> <p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:"Arial Unicode MS"">Meanwhile, Nepal Bankers Association felicitated former governor of NRB and ex-chairman of Nabil Bank Sagyendra Pyara Shrestha during the AGM.</span></span></span></span></p> <p> </p> ', 'published' => true, 'created' => '2020-12-30', 'modified' => '2020-12-30', 'keywords' => '', 'description' => '', 'sortorder' => '12620', 'image' => '20201230031428_1609284884.Clipboard11.jpg', 'article_date' => '2020-12-30 15:14:01', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 4 => array( 'Article' => array( 'id' => '12872', 'article_category_id' => '266', 'title' => 'Ncell Ties up with ‘Miss Universe Nepal 2020’', 'sub_title' => '', 'summary' => 'December 30: Ncell Axiata Limited, as a part of its #unpause campaign and GGO initiative, has tied-up with Brave Bold Beautiful Pvt Ltd for ‘Miss Universe Nepal 2020’. ', 'content' => '<p><span style="font-size:12pt"><span style="font-family:Cambria"><span style="font-size:14.0pt"><span style="font-family:Times">December 30: Ncell Axiata Limited, as a part of its #unpause campaign and GGO initiative, has tied-up with Brave Bold Beautiful Pvt Ltd for ‘Miss Universe Nepal 2020’. The collaboration aims at celebrating the spirit of women empowerment and supporting women who are moving ahead in life to chase their dreams, reads a statement posted by the company on its website. </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:Times">The statement added that Miss Universe Nepal is an all-inclusive leadership platform that believe in empowering Nepalese women to grow them into leaders. </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:Times">Ncell said it recently launched an attractive ‘GGO SIM’ pack specially designed for women with the theme ‘Aghi Badau’. </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:Times">“Ncell’s GGO philosophy is about encouraging progressive women to move forward to achieve their dreams. Miss Universe Nepal with its inclusivity approach for the first time in Nepal, shares a similar philosophy around its Brave, Bold, Beautiful approach,” the statement further said. </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:Times">On December 26, as a part of this partnership, Ncell also organised an interaction session with the top 18 finalists of Miss Nepal Universe with the mentors Dr Raveena Desraj (Deputy CEO, Mega Bank), Priyanka Karki (actor) and Pooja Rijal (Solo Traveller). <br /> </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:Times">One from the finalists will be crowned as title winner amid the finale on Wednesday evening. The winner will bag prizes worth Rs 2.5 million. Alongside attractive cash prize, the organisers of this event have taken up the challenge to mainstream inclusivity in such beauty pageants globally, Ncell added. <br /> </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:Times">Ncell expressed its delight to tie-up with Miss Universe Nepal to encourage, empower women and support them achieve their aspirations with positivity and confidence. </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:Times">The statement added that Miss Universe Nepal provides the contestants with world-renowned coaching and grooming in addition to advance networking, business and life skills, besides taking winning contestant to the global stage to represent Nepal. </span></span></span></span></p> <p> </p> ', 'published' => true, 'created' => '2020-12-30', 'modified' => '2020-12-30', 'keywords' => '', 'description' => '', 'sortorder' => '12619', 'image' => '20201230025209_Miss-Universe-Nepal-2020.jpg', 'article_date' => '2020-12-30 14:51:32', 'homepage' => false, 'breaking_news' => false, 'main_news' => false, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 5 => array( 'Article' => array( 'id' => '12871', 'article_category_id' => '1', 'title' => 'NITDB Expands Infrastructure at Birgunj ICP', 'sub_title' => '', 'summary' => 'December 30: The physical infrastructure of the Nepal-India Integrated Check Post (ICP) in Birgunj has been expanded following an increase in volume of import and export at the transit point.', 'content' => '<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt">December 30: The physical infrastructure of the Nepal-India Integrated Check Post (ICP) in Birgunj has been expanded following an increase in volume of import and export at the transit point.</span></span></span></p> <p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt">The Nepal Intermodal Transport Development Committee (NITDB) has built a new parking lot and a warehouse at the ICP.</span></span></span></p> <p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt">NITDB Birgunj Chief Kamal Gyawali informed that they expanded the infrastructure because the import and export from the old Inarwa checkpoint of Birgunj was diverted to the ICP. </span></span></span></p> <p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt">With the increase in import and export from the ICP, the warehouse, parking lot, and other structures were getting congested.</span></span></span></p> <p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt">According to Gyawali, a new parking lot for 300 to 350 vehicles has come into operation at the ICP. "We had to build a new parking lot as the previous one was not sufficient. The new parking lot of 21,000 square meters has been added after the size of import and export from the ICP started increasing," he informed New Business Age.</span></span></span></p> <p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt">Earlier, there was a parking lot for 250 to 300 vehicles. Vehicles not parked in the parking lot had to be parked on the road. Secretary-General of the Birgunj Chamber of Commerce and Industry Madhav Rajpal said that the new structure has become operational. </span></span></span></p> <p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt">"The ICP is becoming overcrowded as almost all the transactions at the Birgunj customs are diverted to the ICP. As foreign trade has been increasing every year, there should be strong management of such infrastructure at the border," he informed.</span></span></span></p> <p> </p> ', 'published' => true, 'created' => '2020-12-30', 'modified' => '2020-12-30', 'keywords' => '', 'description' => '', 'sortorder' => '12618', 'image' => '20201230024130_1609284634.Clipboard08.jpg', 'article_date' => '2020-12-30 14:40:36', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 6 => array( 'Article' => array( 'id' => '12870', 'article_category_id' => '1', 'title' => 'India yet to pay Three Years’ VAT under Koshi Agreement', 'sub_title' => '', 'summary' => 'December 30: The Koshi Agreement signed between Nepal and India 64 years ago states that India has to pay value added tax while working in Nepali territory. ', '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"">December 30: The Koshi Agreement signed between Nepal and India 64 years ago states that India has to pay value added tax while working in Nepali territory. Nepali contractors have paid Rs 350 million VAT to India for the construction of Koshi barrage to control flood but the Indian side has not submitted the amount to the Government 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"">Although the Biratnagar-based contact office of Nepal has time and again requested the Koshi Project Office in Birpur to deposit the collected amount, the Government of Nepal is yet to receive it.</span></span></span></span></p> <p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:"Arial Unicode MS"">Official at the Biratnagar-based contact office Santosh Kumar Limbu says that the Indian side has not paid the due amount since Fiscal Year 2075/76.</span></span></span></span></p> <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 Koshi Agreement signed on Baishakh 12, 2011 BS clearly states that the Indian side will have to pay taxes for the construction works done on Nepali’s soil. It also includes land tax. Although India has been paying land tax, Limbu says India is yet to submit the NCT (Nepal Contractor Tax) under VAT which it has already collected from the contractors.</span></span></span></span></p> <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 Koshi Agreement has granted India a total of 13,337 bighas of land in Saptari, Udayapur and Sunsari in lease for 199 years but those lands will remain under the jurisdiction of Nepal’s laws.</span></span></span></span></p> <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 Limbu, the Indian side is involved in construction worth millions of rupees every year in the Koshi region. India undertakes the construction works by sub-contracting them to the construction companies. While making payments to the contractors, India used to deduct 13 percent tax and provide it to the Government of Nepal. But this has stopped since the last three years, informed Limbu.</span></span></span></span></p> <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 Indian government itself deducts the VAT from the contractors and hands over to Nepal. I have been requesting the Indian side to release the amount since the last three years but they have been delaying the payment under different pretexts,” said Limbu.</span></span></span></span></p> <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 informed that the Indian side has pledged to make the payment through online system but has been unable to do so due to technical problems.</span></span></span></span></p> <p> </p> ', 'published' => true, 'created' => '2020-12-30', 'modified' => '2020-12-30', 'keywords' => '', 'description' => '', 'sortorder' => '12617', 'image' => '20201230012349_1609284714.12.jpg', 'article_date' => '2020-12-30 13:23:17', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 7 => array( 'Article' => array( 'id' => '12868', 'article_category_id' => '1', 'title' => 'India to Lift Ban on Export of Onion from January 1', 'sub_title' => '', 'summary' => 'December 30: India has decided to lift a ban imposed on export of onion. ', '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"">December 30: India has decided to lift a ban imposed on export of onion. India had banned the export of onion on September 14 due to shortage in its domestic market. The move was aimed at controlling price hike of onion.</span></span></span></span></p> <p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:"Arial Unicode MS"">Issuing a statement on Monday (December 28), the Ministry of Commerce and Industry of India informed that the ban on export of onion will be lifted from Friday, January 1.</span></span></span></span></p> <p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:"Arial Unicode MS"">Director General of the Department of Customs Suman Dahal says that India might have lifted the ban due to increase in production of onion. Dahal says that the price of onion in Nepal will decline once the supply from India resumes.</span></span></span></span></p> <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 price of onion had skyrocketed in the domestic market of Nepal a day after India banned the export of onion.</span></span></span></span></p> <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 price list of Kalimati Fruits and Vegetables Market, onion was being sold at Rs 60 per kilogram in the wholesale market on September 14. The price increased by 99 percent in two days after the ban and was sold for Rs 119 per kg. Onion was sold for as much as Rs 160 per kg in the retail market.</span></span></span></span></p> <p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:"Arial Unicode MS"">The price was lowered to some extent after the Ministry of Industry, Commerce and Supplies took action against some traders for hoarding and selling onion in the black market.</span></span></span></span></p> <p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:"Arial Unicode MS"">Recently, the price of local onion has dropped to Rs 60 per kg in the wholesale market of Kalimati while onions imported from China are being sold at Rs 65 per kg.</span></span></span></span></p> ', 'published' => true, 'created' => '2020-12-30', 'modified' => '2020-12-30', 'keywords' => '', 'description' => '', 'sortorder' => '12616', 'image' => '20201230115520_20200916052134_1600205898.Clipboard06.jpg', 'article_date' => '2020-12-30 11:54:37', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 8 => array( 'Article' => array( 'id' => '12869', 'article_category_id' => '1', 'title' => 'Website of Kalimati Fruits and Vegetables Development Board Hacked', 'sub_title' => '', 'summary' => 'December 30: The website of Kalimati Fruits and Vegetables Development Board has been hacked since one week.', '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"">December 30: The website of Kalimati Fruits and Vegetables Development Board has been hacked since one week.</span></span></span></span></p> <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 website users and consumers have not been able to check the price list since the website started experiencing problems.</span></span></span></span></p> <p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:"Arial Unicode MS"">This has posed serious threat for businessmen to charge price arbitrarily.</span></span></span></span></p> <p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:"Arial Unicode MS"">Executive Director of the board Binod Kumar Bhattarai admitted that the website has been hacked due to which the consumers are facing trouble. He added that the board is working to resolve the problem. </span></span></span></span></p> <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 Bhattarai, the board has been updating the daily price list of vegetables and fruits through its Facebook page.</span></span></span></span></p> <p> </p> ', 'published' => true, 'created' => '2020-12-30', 'modified' => '2020-12-30', 'keywords' => '', 'description' => '', 'sortorder' => '12615', 'image' => '20201230123926_86278455_1296226060563740_4388980625416126464_n.jpg', 'article_date' => '2020-12-30 12:38:13', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => false, 'user_id' => '34' ) ), (int) 9 => array( 'Article' => array( 'id' => '12866', 'article_category_id' => '1', 'title' => 'Use of Smartphones Increasing', 'sub_title' => '', 'summary' => 'December 29: Coronavirus has adversely affected the entire economy but the smartphone market is flourishing amid current crisis.', '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"">December 29: Coronavirus has adversely affected the entire economy but the smartphone market is flourishing amid current crisis.</span></span></span></span></p> <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 businesses affected by coronavirus are yet to return back to normalcy. However, the demand for smartphones and its business is growing despite the fragile 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"">According to the Department of Customs, mobile phones worth Rs 17.64 billion were imported in the country during the first five months of the current fiscal year, which is Rs 7 billion more than the import made during the corresponding period of last fiscal year.</span></span></span></span></p> <p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:"Arial Unicode MS"">During the first five months of last fiscal year, mobile phones worth Rs 10.67 billion were imported in 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"">The smartphone market had been initially affected after the government imposed lockdown on March 24. But the demand for smartphones started increasing after the lockdown was eased in late July.</span></span></span></span></p> <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 Deepak Malhotra, chairman of Nepal Mobile Phones Importers’ Association, people who used to own normal phones started using smartphones to kill time during lockdown. The demand for smartphones has also increased for virtual meetings. He added that the demand for smartphones has also increased because smuggling of such phones has declined due to border obstruction.</span></span></span></span></p> <p> </p> ', 'published' => true, 'created' => '2020-12-29', 'modified' => '2020-12-29', 'keywords' => '', 'description' => '', 'sortorder' => '12614', 'image' => '20201229031941_1609199035.Clipboard14.jpg', 'article_date' => '2020-12-29 15:19:15', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 10 => array( 'Article' => array( 'id' => '12864', 'article_category_id' => '1', 'title' => 'Paddy Production Increases this Year', 'sub_title' => '', 'summary' => 'December 29: The production of paddy has increased in the current fiscal by almost 71,000 metric tons compared to the last 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"">December 29: The production of paddy has increased in the current fiscal by almost 71,000 metric tons compared to the last fiscal year. The Ministry of Agriculture and Livestock Development issued a statement on Monday (December 28) informing about the increase in production of paddy 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"">According to the information provided by the ministry, the seasonal and annual production of paddy increased by 70,831 metric tons during the review period.</span></span></span></span></p> <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 total amount of paddy produced this year was 5.62 million metric toms. Last year, the production of paddy was 5.55 million metric tons, according to 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"">The ministry said that the availability of workers due to lockdown, active monsoon and availability of seeds contributed to the increase in production of paddy in 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"">Paddy productivity has increased to 3.82 tons per hectare, which is all-time high in the country. There has been an increase in paddy productivity by 0.28 percent this year compared to the last fiscal year, according to the statement.</span></span></span></span></p> <p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:"Arial Unicode MS"">An analysis of five years of records show that the production of paddy has increased by 7.48 percent in the current fiscal year compared to FY 2017/18.</span></span></span></span></p> <p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:"Arial Unicode MS"">Although the ministry had expected production of paddy to increase much more, lack of chemical fertilizer during the plantation season caused a setback to achieve the goal, informed Dr Shree Ram Ghimire, spokesperson of the ministry.</span></span></span></span></p> <p> </p> ', 'published' => true, 'created' => '2020-12-29', 'modified' => '2020-12-29', 'keywords' => '', 'description' => '', 'sortorder' => '12613', 'image' => '20201229023041_1609198819.Clipboard13.jpg', 'article_date' => '2020-12-29 14:30:05', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 11 => array( 'Article' => array( 'id' => '12867', 'article_category_id' => '1', 'title' => 'Entrepreneurs Warn of Protests if the Government Delays Relief Package', 'sub_title' => '', 'summary' => 'December 29: Entrepreneurs have jointly demanded relief package with the government for the revival of economy that has been badly affected by the coronavirus pandemic.', '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"">December 29: Entrepreneurs have jointly demanded relief package with the government for the revival of economy that has been badly affected by the coronavirus pandemic. They have warned of stern protests if the government does not fulfill their demand.</span></span></span></span></p> <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 of 32 different sectors held extensive discussions on Monday (December 28) and then sent letters to the prime minister and various other government bodies demanding relief package.</span></span></span></span></p> <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 are also preparing to form Covid-19 victims’ struggle committee to press for their demand.</span></span></span></span></p> <p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:"Arial Unicode MS"">Those attending the discussion on Monday were from wide range of sectors including transportation, tourism industry, hotel, medicine, handicraft, real estate among others. They have warned of joint protest if their demand is not addressed. Participants of the meeting concluded that the government was not interested in reviving the economy that has been paralyzed by the 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"">They said that full lockdown and partial restrictions for ten months has resulted in job loss for many people. Even in such dire situation, the government has not provided any relief package to uplift the private sector, according to the entrepreneurs.</span></span></span></span></p> <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 N-PABSON Karna Bahadur Shahi said that they decided to initiate protest programmes after the government authorities including the prime minister’s office, Nepal Rastra Bank and the concerned ministries turned a deaf ear to the repeated requests made by the entrepreneurs as well as their umbrella bodies.</span></span></span></span></p> <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 have demanded immediate release of relief package and waiver of taxes and fines of the businesses affected by coronavirus. They have also urged the government to pay for the bank’s interest and rent and 50 percent salary of employees during the affected period.</span></span></span></span></p> <p> </p> ', 'published' => true, 'created' => '2020-12-29', 'modified' => '2020-12-29', 'keywords' => '', 'description' => '', 'sortorder' => '12612', 'image' => '20201229034113_icerik_2980.jpg', 'article_date' => '2020-12-29 15:40:32', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 12 => array( 'Article' => array( 'id' => '12865', 'article_category_id' => '1', 'title' => 'NOC makes Rs 13 Billion Profit despite Lockdown ', 'sub_title' => '', 'summary' => 'December 29: The profit of Nepal Oil Corporation has increased despite a decline in fuel consumption due to the effect of coronavirus, the state-run national news agency reported.', 'content' => '<p><span style="font-size:11pt"><span style="font-family:Calibri"><span style="font-size:12.0pt"><span style="font-family:"Times New Roman"">December 29: The profit of Nepal Oil Corporation has increased despite a decline in fuel consumption due to the effect of coronavirus, the state-run national news agency reported.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri"><span style="font-size:12.0pt"><span style="font-family:"Times New Roman"">According to the final audit report of the last fiscal year 2076/77, the state-owned corporation earned Rs 12.87 billion profit in a year. </span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri"><span style="font-size:12.0pt"><span style="font-family:"Times New Roman"">According to the report, the corporation's profit has increased as id did not have to incur transportation after the Motihari-Amalekhgunj Petroleum Pipeline came into operation. </span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri"><span style="font-size:12.0pt"><span style="font-family:"Times New Roman"">Surendra Poudel, executive director of NOC, said that the corporation's profit has increased in the last fiscal year 2076/77 due to the earning from interest, savings in transportation expenses and reduction of subsidy on LPG. According to him, the corporation has earned an average profit of five percent. </span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri"><span style="font-size:12.0pt"><span style="font-family:"Times New Roman"">NOC earned profit of Rs 19.36 billion in FY 2072/73, Rs 9.45 billion in FY 2073/74 and Rs 3.58 billion in FY 2074/75. Likewise, there was profit of Rs 8.75 billion and Rs 12.87 billion profit in FY 2075/76 and FY 2076/77. </span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri"><span style="font-size:12.0pt"><span style="font-family:"Times New Roman"">The profit has increased after the reduction in the price of fuel in the international market and automatic pricing system adopted by the corporation. The report stated that saving in fuel transportation cost and interest from previous year’s profit helped increase the profit this year. </span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri"><span style="font-size:12.0pt"><span style="font-family:"Times New Roman"">Furthermore, according to the report, NOC saved Rs 1.47 billion in 10 months period for importing fuel through the pipeline. Likewise, the corporation informed that it earned Rs 1.77 billion from the interest of last year’s profit. </span></span></span></span></p> <p> </p> ', 'published' => true, 'created' => '2020-12-29', 'modified' => '2020-12-29', 'keywords' => '', 'description' => '', 'sortorder' => '12611', 'image' => '20201229030721_1609141710.nigam.jpg', 'article_date' => '2020-12-29 15:06:43', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 13 => array( 'Article' => array( 'id' => '12863', 'article_category_id' => '1', 'title' => 'Government Preparing to Open Foreign Investment in Agriculture Sector', 'sub_title' => '', 'summary' => 'December 29: The government is preparing to open the agriculture sector of Nepal for foreign investment after a lengthy discussion regarding this issue.', '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"">December 29: The government is preparing to open the agriculture sector of Nepal for foreign investment after a lengthy discussion regarding this issue.</span></span></span></span></p> <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 Industry, Commerce and Supplies is making necessary preparations to allow foreign investment in nine different sectors including the 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"">So far, the government has denied permission for foreign investment in agriculture sector although it has given high priority for foreign investment in other sectors.</span></span></span></span></p> <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 Foreign Investment and Technology Transfer Act 2075 categorizes several areas under the agriculture sector including production of food, animal husbandry, fishery, bee rearing, fruits and vegetables farming, oil production and diary farming as ineligible for foreign investment.</span></span></span></span></p> <p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:"Arial Unicode MS"">Realizing this provision as the main obstacle for the commercialization of the agriculture sector and a hindrance to creating new employment opportunities, the ministry has coordinated with the concerned authorities to prepare a report for opening foreign investment in the 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"">A source at the ministry informed New Business Age that the government will issue a new policy related to foreign investment in agriculture sector by publishing it in the Nepal Gazette within a few days. The official however declined to reveal the ceiling of foreign investment.</span></span></span></span></p> <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 team headed by the Director General of the Department of Industry, which also included representatives form the Investment Board, Ministry of Agriculture and Livestock Development, Ministry of Labour and Employment had conducted a study to ascertain the viability of foreign investment in agriculture sector of Nepal.</span></span></span></span></p> ', 'published' => true, 'created' => '2020-12-29', 'modified' => '2021-01-06', 'keywords' => '', 'description' => '', 'sortorder' => '12610', 'image' => '20201229124726_1609198507.Clipboard08.jpg', 'article_date' => '2020-12-29 12:46:56', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => false, 'user_id' => '34' ) ), (int) 14 => array( 'Article' => array( 'id' => '12862', 'article_category_id' => '1', 'title' => 'Sugarcane Farmers Withdraw Protests after Signing a Deal with Government', 'sub_title' => '', 'summary' => 'December 29: Sugarcane farmers have postponed their two-weeks of protests in the capital after signing an agreement with the government for the payment of their dues.', '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"">December 29: Sugarcane farmers have postponed their two-weeks of protests in the capital after signing an agreement with the government for the payment of their dues.</span></span></span></span></p> <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 agitating farmers signed a four-point agreement with the government on Monday (December 28). </span></span></span></span></p> <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 per the agreement reached between representatives of the Ministry of Industry, Commerce and Supplies and the farmers, the sugar mill owners have been given 21 days to clear all the dues.</span></span></span></span></p> <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 two sides also agreed to form a study committee to prepare a report related to the farmers and sugar industries within 120 days.</span></span></span></span></p> <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 had brokered a deal between the farmers and the sugar mill owners last year also. However, the farmers began fresh protest this year after the agreement was not implemented.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:Cambria"><span style="font-size:14.0pt"><span style="font-family:"Arial Unicode MS"">Deputy spokesperson of the ministry Urmila KC confirmed that the government had reached an understanding with the farmers. She added that the government was making necessary preparations to implement the deal so that a similar situation would not arise in the future again.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:Cambria"><span style="font-size:14.0pt"><span style="font-family:"Arial Unicode MS"">The ministry officials further said that the defaulting sugar mills will face action if the fail to clear the dues within the given time.</span></span></span></span></p> <p> </p> <p> </p> <p> </p> ', 'published' => true, 'created' => '2020-12-29', 'modified' => '2020-12-29', 'keywords' => '', 'description' => '', 'sortorder' => '12609', 'image' => '20201229113333_1609164432.jpg', 'article_date' => '2020-12-29 11:32:45', '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' => '12876', 'article_category_id' => '1', 'title' => 'Nepal Preparing to Export Citric Fruits to China', 'sub_title' => '', 'summary' => 'December 31: The government has started preparations to export citric fruits to China as per an understanding reached with the Chinese government last 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"">December 31: The government has started preparations to export citric fruits to China as per an understanding reached with the Chinese government last 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"">During Chinese Presiden Xi Jinping’s state visit to Nepal last year, the Ministry of Agriculture and Livestock Development had signed an agreement with China’s Agriculture Department to export citric fruits to the northern neighbour.</span></span></span></span></p> <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 would have already started exporting citric fruits like oranges and lemons to China had the officials of the two countries worked as per the agreement. However, the delay in the process has pushed back the export but it will take place within the current fiscal year, claimed the agriculture 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"">“We are working continuously to begin the process of export. I am certain that the export to China’s Tibet will take place soon even if it is just for the testing phase,” said Yogendra Kumar Karki, secretary at the agriculture ministry, adding that the process of export is heading to the right direction even though it has been delayed. Secretary Karki believes that the export will begin soon.</span></span></span></span></p> <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 as well as Nepal Agriculture Research Council and other concerned agencies are making efforts to export citric fruits to China.</span></span></span></span></p> <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 is also facilitating the process among orange farmers, businessmen and Chinese agents.</span></span></span></span></p> <p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:"Arial Unicode MS"">Earlier, Nepal had signed a similar agreement with China in 2012 for the export of citric fruits. However, Nepal could not export the fruits due to a clause which demanded that the products should be grown in fields that are free from pests and diseases. The latest agreement has only demanded fruits free from 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"">If the standard maintained by Nepal is approved by China, the country will be exporting 200 to 300 metric tons of fruits soon, informed Devraj Adhikari, chief of the Prime Minister Agriculture Modernization Project, Sindhuli. He added that if the export in the testing phase becomes successful, they will increase commercial production for export.</span></span></span></span></p> <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 per the provision in the agreement, Nepal should store the fruits at a certain temperature for 21 days and also needs to transport them in vehicles with cold storage facility. These technologies are the major challenges for Nepal.</span></span></span></span></p> <p> </p> ', 'published' => true, 'created' => '2020-12-31', 'modified' => '2020-12-31', 'keywords' => '', 'description' => '', 'sortorder' => '12623', 'image' => '20201231121240_20190220125347_aaa.jpg', 'article_date' => '2020-12-31 12:12:09', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 1 => array( 'Article' => array( 'id' => '12875', 'article_category_id' => '1', 'title' => 'Impact of Covid-19 not as Severe as Expected: NRB Governor', 'sub_title' => '', 'summary' => 'December 31: The impact of Covid-19 on Nepal’s economy has been less severe than expected, according to Nepal Rastra Bank’s Governor Maha Prasad Adhikari.', '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"">December 31: The impact of Covid-19 on Nepal’s economy has been less severe than expected, according to Nepal Rastra Bank’s Governor Maha Prasad Adhikari.</span></span></span></span></p> <p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:"Arial Unicode MS"">Speaking with the new executive committee members of the Nepalese Association of Financial Journalists (NAFIJ) during a virtual meeting on Wednesday (December 30), Governor Adhikari said that the financial activities of most of the sectors except a few are satisfactory at present and that the economy will witness financial in the coming days.</span></span></span></span></p> <p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:"Arial Unicode MS"">Governor Adhikari said that only 6 percent industries were fully operational in the month of Jestha (mid-May to mid-June) while the up to 57 percent industries are fully operational now. This will have a positive effect on the economy, added Adhikari.</span></span></span></span></p> <p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:"Arial Unicode MS"">Governor Adhikari further said that the flow of loan from the banking sector has increased this winter. He claimed that the high liquidity of banks will now come in good use with the increase in flow of loan. </span></span></span></span></p> <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 said that the central bank opened forms for refinancing only three months ago and the submissions were approved only in the month of Kartik (mid-October to mid-November). He added that the work procedure for economic revival was approved the following month and therefore it is still now clear how much contributions did a particular bank made. </span></span></span></span></p> <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 added that the central bank has so far approved refinancing of Rs 81 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"">“So far, we have approved a total of 81 billion refinancing to 41,000 debtors. Among them, more than 33,000 borrowers are entitled to refinancing facility for small loan of less than Rs 1.5 million,” said Governor Adhikari.</span></span></span></span></p> <p> </p> ', 'published' => true, 'created' => '2020-12-31', 'modified' => '2020-12-31', 'keywords' => '', 'description' => '', 'sortorder' => '12622', 'image' => '20201231114842_20201211011108_20200407080848_IMG_4955 - Copy.JPG', 'article_date' => '2020-12-31 11:48:04', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 2 => array( 'Article' => array( 'id' => '12874', 'article_category_id' => '1', 'title' => 'Government Signs $156 Million Deal with ADB for Modernization of Power Transmission ', 'sub_title' => '', 'summary' => 'December 31: The Government of Nepal has signed a $156 million (Rs 18.25 billion) deal with the Asian Development Bank (ADB) for concessional loan to modernize power transmission and distribution systems in the country.', 'content' => '<p><span style="font-size:12pt"><span style="font-family:Calibri"><span style="font-size:14.0pt"><span style="font-family:Arial">December 31: The Government of Nepal has signed a $156 million (Rs 18.25 billion) deal with the Asian Development Bank (ADB) for concessional loan to </span></span><span style="font-size:14.0pt"><span style="font-family:Arial">modernize power transmission and distribution systems in the country.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:Calibri"><span style="font-size:14.0pt"><span style="font-family:Arial">Joint Secretary at the Ministry of Finance Shree Krishna Nepal and </span></span><span style="font-size:14.0pt"><span style="font-family:Arial">Rudi Van Dael, officer-in-charge of ADB for Nepal, signed the agreement amid a function at the ministry on December 30. </span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:Calibri"><span style="font-size:14.0pt"><span style="font-family:Arial">Out of the total cost of Rs 22.81 billion required for the project, the ADB will fund Rs 18.25 billion while the Government of Nepal and the Nepal Electricity Authority will contribute Rs 4.56 billion, informed the ministry.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:Calibri"><span style="font-size:14.0pt"><span style="font-family:Arial">According to the ADB, the Electricity Grid Modernization Project will finance the automation of grid substations throughout the country, modernize distribution and transmission systems in various areas, complete the installation of smart meters in the Kathmandu Valley, and support sector reform and institutional strengthening of the Nepal Electricity Authority (NEA).</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:Calibri"><span style="font-size:14.0pt"><span style="font-family:Arial">ADB said in a statement that the project will, among others, automate 34 existing grid substations, install 220-kilovolt (kV) and 132-kV automated grid substations, construct a total of 113 kilometers (km) of new transmission lines, upgrade 144 km of existing transmission lines with efficient conductors, and expand the installation of smart meters for 350,000 electricity consumers in the Kathmandu Valley. An electricity distribution system command and control center in Kathmandu will also be constructed. </span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:Calibri"><span style="font-size:14.0pt"><span style="font-family:Arial"> “ADB has been actively involved in major policy and institutional reforms in the power sector, and this project is a continuation of our support to provide reliable and efficient electricity supply in the country,” the statement quoted ADB Principal Energy Specialist Jiwan Acharya as saying. “Moreover, this project will position Nepal to be better prepared in its post-pandemic economic rebuilding.”</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:Calibri"><span style="font-size:14.0pt"><span style="font-family:Arial">The concessional loan was approved by the ADB in late November, according to a statement published by the bank on November 27.</span></span></span></span></p> <p> </p> <p> </p> <p> </p> <p> </p> ', 'published' => true, 'created' => '2020-12-31', 'modified' => '2020-12-31', 'keywords' => '', 'description' => '', 'sortorder' => '12621', 'image' => '20201231111120_IMG_0867.jpg', 'article_date' => '2020-12-31 11:10:33', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => false, 'user_id' => '34' ) ), (int) 3 => array( 'Article' => array( 'id' => '12873', 'article_category_id' => '1', 'title' => 'Bankers ‘Not Happy’ with Central Bank’s Policies', 'sub_title' => '', 'summary' => 'December 30: Bankers have accused that Nepal Rastra Bank has not been able to introduce stable policies. ', '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"">December 30: Bankers have accused that Nepal Rastra Bank has not been able to introduce stable policies. </span></span></span></span></p> <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 a virtual meeting organized by Nepal Bankers Association during its annual general meeting on Tuesday (December 29), representatives of the Confederation of Banks and Financial Institutions of Nepal (CBFIN) said that the multiple amendments of the provisions of the monetary policy by the central bank was not appropriate. </span></span></span></span></p> <p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:"Arial Unicode MS"">Speaking at the virtual meeting, CBFIN Chairman Pawan Golyan said that the central bank’s decision to fix the service charge of 0.75 percent just because some banks were charging high service charge was not fair. This, according to Golyan, has caused problems for the BFIs for micro management.</span></span></span></span></p> <p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:"Arial Unicode MS"">Meanwhile, Governor of Nepal Rastra Bank Maha Prasad Adhikari said that the current policy of the central bank are aimed at the welfare of the sectors affected by Covid-19 while other provisions have not been changed in the current context.</span></span></span></span></p> <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 central bank’s policies are aimed at revitalizing the economy that has been badly affected by coronavirus. Our policies also compliment the state’s objective of achieving 7 percent economic growth,” said Governor Adhikari.</span></span></span></span></p> <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 argued that the latest measures taken by the central bank to remove some anomalies should not be considered as a shift in Nepal Rastra Bank’s policy.</span></span></span></span></p> <p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:"Arial Unicode MS"">Governor Adhikari informed that the demand for loan was low during the start of the current fiscal year but the flow of loan and deposit collection has improved now.</span></span></span></span></p> <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 central bank’s governor also stressed that the banking system should now go digital.</span></span></span></span></p> <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 Nepal Bankers Association Bhuvan Kumar Dahal said that it would take some more time for the country’s economy to return back to normalcy but there is a silver lining as most of the sectors have already started operating at the moment.</span></span></span></span></p> <p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:"Arial Unicode MS"">Meanwhile, Nepal Bankers Association felicitated former governor of NRB and ex-chairman of Nabil Bank Sagyendra Pyara Shrestha during the AGM.</span></span></span></span></p> <p> </p> ', 'published' => true, 'created' => '2020-12-30', 'modified' => '2020-12-30', 'keywords' => '', 'description' => '', 'sortorder' => '12620', 'image' => '20201230031428_1609284884.Clipboard11.jpg', 'article_date' => '2020-12-30 15:14:01', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 4 => array( 'Article' => array( 'id' => '12872', 'article_category_id' => '266', 'title' => 'Ncell Ties up with ‘Miss Universe Nepal 2020’', 'sub_title' => '', 'summary' => 'December 30: Ncell Axiata Limited, as a part of its #unpause campaign and GGO initiative, has tied-up with Brave Bold Beautiful Pvt Ltd for ‘Miss Universe Nepal 2020’. ', 'content' => '<p><span style="font-size:12pt"><span style="font-family:Cambria"><span style="font-size:14.0pt"><span style="font-family:Times">December 30: Ncell Axiata Limited, as a part of its #unpause campaign and GGO initiative, has tied-up with Brave Bold Beautiful Pvt Ltd for ‘Miss Universe Nepal 2020’. The collaboration aims at celebrating the spirit of women empowerment and supporting women who are moving ahead in life to chase their dreams, reads a statement posted by the company on its website. </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:Times">The statement added that Miss Universe Nepal is an all-inclusive leadership platform that believe in empowering Nepalese women to grow them into leaders. </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:Times">Ncell said it recently launched an attractive ‘GGO SIM’ pack specially designed for women with the theme ‘Aghi Badau’. </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:Times">“Ncell’s GGO philosophy is about encouraging progressive women to move forward to achieve their dreams. Miss Universe Nepal with its inclusivity approach for the first time in Nepal, shares a similar philosophy around its Brave, Bold, Beautiful approach,” the statement further said. </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:Times">On December 26, as a part of this partnership, Ncell also organised an interaction session with the top 18 finalists of Miss Nepal Universe with the mentors Dr Raveena Desraj (Deputy CEO, Mega Bank), Priyanka Karki (actor) and Pooja Rijal (Solo Traveller). <br /> </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:Times">One from the finalists will be crowned as title winner amid the finale on Wednesday evening. The winner will bag prizes worth Rs 2.5 million. Alongside attractive cash prize, the organisers of this event have taken up the challenge to mainstream inclusivity in such beauty pageants globally, Ncell added. <br /> </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:Times">Ncell expressed its delight to tie-up with Miss Universe Nepal to encourage, empower women and support them achieve their aspirations with positivity and confidence. </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:Times">The statement added that Miss Universe Nepal provides the contestants with world-renowned coaching and grooming in addition to advance networking, business and life skills, besides taking winning contestant to the global stage to represent Nepal. </span></span></span></span></p> <p> </p> ', 'published' => true, 'created' => '2020-12-30', 'modified' => '2020-12-30', 'keywords' => '', 'description' => '', 'sortorder' => '12619', 'image' => '20201230025209_Miss-Universe-Nepal-2020.jpg', 'article_date' => '2020-12-30 14:51:32', 'homepage' => false, 'breaking_news' => false, 'main_news' => false, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 5 => array( 'Article' => array( 'id' => '12871', 'article_category_id' => '1', 'title' => 'NITDB Expands Infrastructure at Birgunj ICP', 'sub_title' => '', 'summary' => 'December 30: The physical infrastructure of the Nepal-India Integrated Check Post (ICP) in Birgunj has been expanded following an increase in volume of import and export at the transit point.', 'content' => '<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt">December 30: The physical infrastructure of the Nepal-India Integrated Check Post (ICP) in Birgunj has been expanded following an increase in volume of import and export at the transit point.</span></span></span></p> <p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt">The Nepal Intermodal Transport Development Committee (NITDB) has built a new parking lot and a warehouse at the ICP.</span></span></span></p> <p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt">NITDB Birgunj Chief Kamal Gyawali informed that they expanded the infrastructure because the import and export from the old Inarwa checkpoint of Birgunj was diverted to the ICP. </span></span></span></p> <p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt">With the increase in import and export from the ICP, the warehouse, parking lot, and other structures were getting congested.</span></span></span></p> <p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt">According to Gyawali, a new parking lot for 300 to 350 vehicles has come into operation at the ICP. "We had to build a new parking lot as the previous one was not sufficient. The new parking lot of 21,000 square meters has been added after the size of import and export from the ICP started increasing," he informed New Business Age.</span></span></span></p> <p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt">Earlier, there was a parking lot for 250 to 300 vehicles. Vehicles not parked in the parking lot had to be parked on the road. Secretary-General of the Birgunj Chamber of Commerce and Industry Madhav Rajpal said that the new structure has become operational. </span></span></span></p> <p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt">"The ICP is becoming overcrowded as almost all the transactions at the Birgunj customs are diverted to the ICP. As foreign trade has been increasing every year, there should be strong management of such infrastructure at the border," he informed.</span></span></span></p> <p> </p> ', 'published' => true, 'created' => '2020-12-30', 'modified' => '2020-12-30', 'keywords' => '', 'description' => '', 'sortorder' => '12618', 'image' => '20201230024130_1609284634.Clipboard08.jpg', 'article_date' => '2020-12-30 14:40:36', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 6 => array( 'Article' => array( 'id' => '12870', 'article_category_id' => '1', 'title' => 'India yet to pay Three Years’ VAT under Koshi Agreement', 'sub_title' => '', 'summary' => 'December 30: The Koshi Agreement signed between Nepal and India 64 years ago states that India has to pay value added tax while working in Nepali territory. ', '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"">December 30: The Koshi Agreement signed between Nepal and India 64 years ago states that India has to pay value added tax while working in Nepali territory. Nepali contractors have paid Rs 350 million VAT to India for the construction of Koshi barrage to control flood but the Indian side has not submitted the amount to the Government 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"">Although the Biratnagar-based contact office of Nepal has time and again requested the Koshi Project Office in Birpur to deposit the collected amount, the Government of Nepal is yet to receive it.</span></span></span></span></p> <p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:"Arial Unicode MS"">Official at the Biratnagar-based contact office Santosh Kumar Limbu says that the Indian side has not paid the due amount since Fiscal Year 2075/76.</span></span></span></span></p> <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 Koshi Agreement signed on Baishakh 12, 2011 BS clearly states that the Indian side will have to pay taxes for the construction works done on Nepali’s soil. It also includes land tax. Although India has been paying land tax, Limbu says India is yet to submit the NCT (Nepal Contractor Tax) under VAT which it has already collected from the contractors.</span></span></span></span></p> <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 Koshi Agreement has granted India a total of 13,337 bighas of land in Saptari, Udayapur and Sunsari in lease for 199 years but those lands will remain under the jurisdiction of Nepal’s laws.</span></span></span></span></p> <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 Limbu, the Indian side is involved in construction worth millions of rupees every year in the Koshi region. India undertakes the construction works by sub-contracting them to the construction companies. While making payments to the contractors, India used to deduct 13 percent tax and provide it to the Government of Nepal. But this has stopped since the last three years, informed Limbu.</span></span></span></span></p> <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 Indian government itself deducts the VAT from the contractors and hands over to Nepal. I have been requesting the Indian side to release the amount since the last three years but they have been delaying the payment under different pretexts,” said Limbu.</span></span></span></span></p> <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 informed that the Indian side has pledged to make the payment through online system but has been unable to do so due to technical problems.</span></span></span></span></p> <p> </p> ', 'published' => true, 'created' => '2020-12-30', 'modified' => '2020-12-30', 'keywords' => '', 'description' => '', 'sortorder' => '12617', 'image' => '20201230012349_1609284714.12.jpg', 'article_date' => '2020-12-30 13:23:17', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 7 => array( 'Article' => array( 'id' => '12868', 'article_category_id' => '1', 'title' => 'India to Lift Ban on Export of Onion from January 1', 'sub_title' => '', 'summary' => 'December 30: India has decided to lift a ban imposed on export of onion. ', '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"">December 30: India has decided to lift a ban imposed on export of onion. India had banned the export of onion on September 14 due to shortage in its domestic market. The move was aimed at controlling price hike of onion.</span></span></span></span></p> <p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:"Arial Unicode MS"">Issuing a statement on Monday (December 28), the Ministry of Commerce and Industry of India informed that the ban on export of onion will be lifted from Friday, January 1.</span></span></span></span></p> <p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:"Arial Unicode MS"">Director General of the Department of Customs Suman Dahal says that India might have lifted the ban due to increase in production of onion. Dahal says that the price of onion in Nepal will decline once the supply from India resumes.</span></span></span></span></p> <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 price of onion had skyrocketed in the domestic market of Nepal a day after India banned the export of onion.</span></span></span></span></p> <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 price list of Kalimati Fruits and Vegetables Market, onion was being sold at Rs 60 per kilogram in the wholesale market on September 14. The price increased by 99 percent in two days after the ban and was sold for Rs 119 per kg. Onion was sold for as much as Rs 160 per kg in the retail market.</span></span></span></span></p> <p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:"Arial Unicode MS"">The price was lowered to some extent after the Ministry of Industry, Commerce and Supplies took action against some traders for hoarding and selling onion in the black market.</span></span></span></span></p> <p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:"Arial Unicode MS"">Recently, the price of local onion has dropped to Rs 60 per kg in the wholesale market of Kalimati while onions imported from China are being sold at Rs 65 per kg.</span></span></span></span></p> ', 'published' => true, 'created' => '2020-12-30', 'modified' => '2020-12-30', 'keywords' => '', 'description' => '', 'sortorder' => '12616', 'image' => '20201230115520_20200916052134_1600205898.Clipboard06.jpg', 'article_date' => '2020-12-30 11:54:37', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 8 => array( 'Article' => array( 'id' => '12869', 'article_category_id' => '1', 'title' => 'Website of Kalimati Fruits and Vegetables Development Board Hacked', 'sub_title' => '', 'summary' => 'December 30: The website of Kalimati Fruits and Vegetables Development Board has been hacked since one week.', '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"">December 30: The website of Kalimati Fruits and Vegetables Development Board has been hacked since one week.</span></span></span></span></p> <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 website users and consumers have not been able to check the price list since the website started experiencing problems.</span></span></span></span></p> <p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:"Arial Unicode MS"">This has posed serious threat for businessmen to charge price arbitrarily.</span></span></span></span></p> <p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:"Arial Unicode MS"">Executive Director of the board Binod Kumar Bhattarai admitted that the website has been hacked due to which the consumers are facing trouble. He added that the board is working to resolve the problem. </span></span></span></span></p> <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 Bhattarai, the board has been updating the daily price list of vegetables and fruits through its Facebook page.</span></span></span></span></p> <p> </p> ', 'published' => true, 'created' => '2020-12-30', 'modified' => '2020-12-30', 'keywords' => '', 'description' => '', 'sortorder' => '12615', 'image' => '20201230123926_86278455_1296226060563740_4388980625416126464_n.jpg', 'article_date' => '2020-12-30 12:38:13', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => false, 'user_id' => '34' ) ), (int) 9 => array( 'Article' => array( 'id' => '12866', 'article_category_id' => '1', 'title' => 'Use of Smartphones Increasing', 'sub_title' => '', 'summary' => 'December 29: Coronavirus has adversely affected the entire economy but the smartphone market is flourishing amid current crisis.', '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"">December 29: Coronavirus has adversely affected the entire economy but the smartphone market is flourishing amid current crisis.</span></span></span></span></p> <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 businesses affected by coronavirus are yet to return back to normalcy. However, the demand for smartphones and its business is growing despite the fragile 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"">According to the Department of Customs, mobile phones worth Rs 17.64 billion were imported in the country during the first five months of the current fiscal year, which is Rs 7 billion more than the import made during the corresponding period of last fiscal year.</span></span></span></span></p> <p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:"Arial Unicode MS"">During the first five months of last fiscal year, mobile phones worth Rs 10.67 billion were imported in 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"">The smartphone market had been initially affected after the government imposed lockdown on March 24. But the demand for smartphones started increasing after the lockdown was eased in late July.</span></span></span></span></p> <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 Deepak Malhotra, chairman of Nepal Mobile Phones Importers’ Association, people who used to own normal phones started using smartphones to kill time during lockdown. The demand for smartphones has also increased for virtual meetings. He added that the demand for smartphones has also increased because smuggling of such phones has declined due to border obstruction.</span></span></span></span></p> <p> </p> ', 'published' => true, 'created' => '2020-12-29', 'modified' => '2020-12-29', 'keywords' => '', 'description' => '', 'sortorder' => '12614', 'image' => '20201229031941_1609199035.Clipboard14.jpg', 'article_date' => '2020-12-29 15:19:15', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 10 => array( 'Article' => array( 'id' => '12864', 'article_category_id' => '1', 'title' => 'Paddy Production Increases this Year', 'sub_title' => '', 'summary' => 'December 29: The production of paddy has increased in the current fiscal by almost 71,000 metric tons compared to the last 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"">December 29: The production of paddy has increased in the current fiscal by almost 71,000 metric tons compared to the last fiscal year. The Ministry of Agriculture and Livestock Development issued a statement on Monday (December 28) informing about the increase in production of paddy 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"">According to the information provided by the ministry, the seasonal and annual production of paddy increased by 70,831 metric tons during the review period.</span></span></span></span></p> <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 total amount of paddy produced this year was 5.62 million metric toms. Last year, the production of paddy was 5.55 million metric tons, according to 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"">The ministry said that the availability of workers due to lockdown, active monsoon and availability of seeds contributed to the increase in production of paddy in 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"">Paddy productivity has increased to 3.82 tons per hectare, which is all-time high in the country. There has been an increase in paddy productivity by 0.28 percent this year compared to the last fiscal year, according to the statement.</span></span></span></span></p> <p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:"Arial Unicode MS"">An analysis of five years of records show that the production of paddy has increased by 7.48 percent in the current fiscal year compared to FY 2017/18.</span></span></span></span></p> <p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:"Arial Unicode MS"">Although the ministry had expected production of paddy to increase much more, lack of chemical fertilizer during the plantation season caused a setback to achieve the goal, informed Dr Shree Ram Ghimire, spokesperson of the ministry.</span></span></span></span></p> <p> </p> ', 'published' => true, 'created' => '2020-12-29', 'modified' => '2020-12-29', 'keywords' => '', 'description' => '', 'sortorder' => '12613', 'image' => '20201229023041_1609198819.Clipboard13.jpg', 'article_date' => '2020-12-29 14:30:05', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 11 => array( 'Article' => array( 'id' => '12867', 'article_category_id' => '1', 'title' => 'Entrepreneurs Warn of Protests if the Government Delays Relief Package', 'sub_title' => '', 'summary' => 'December 29: Entrepreneurs have jointly demanded relief package with the government for the revival of economy that has been badly affected by the coronavirus pandemic.', '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"">December 29: Entrepreneurs have jointly demanded relief package with the government for the revival of economy that has been badly affected by the coronavirus pandemic. They have warned of stern protests if the government does not fulfill their demand.</span></span></span></span></p> <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 of 32 different sectors held extensive discussions on Monday (December 28) and then sent letters to the prime minister and various other government bodies demanding relief package.</span></span></span></span></p> <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 are also preparing to form Covid-19 victims’ struggle committee to press for their demand.</span></span></span></span></p> <p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:"Arial Unicode MS"">Those attending the discussion on Monday were from wide range of sectors including transportation, tourism industry, hotel, medicine, handicraft, real estate among others. They have warned of joint protest if their demand is not addressed. Participants of the meeting concluded that the government was not interested in reviving the economy that has been paralyzed by the 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"">They said that full lockdown and partial restrictions for ten months has resulted in job loss for many people. Even in such dire situation, the government has not provided any relief package to uplift the private sector, according to the entrepreneurs.</span></span></span></span></p> <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 N-PABSON Karna Bahadur Shahi said that they decided to initiate protest programmes after the government authorities including the prime minister’s office, Nepal Rastra Bank and the concerned ministries turned a deaf ear to the repeated requests made by the entrepreneurs as well as their umbrella bodies.</span></span></span></span></p> <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 have demanded immediate release of relief package and waiver of taxes and fines of the businesses affected by coronavirus. They have also urged the government to pay for the bank’s interest and rent and 50 percent salary of employees during the affected period.</span></span></span></span></p> <p> </p> ', 'published' => true, 'created' => '2020-12-29', 'modified' => '2020-12-29', 'keywords' => '', 'description' => '', 'sortorder' => '12612', 'image' => '20201229034113_icerik_2980.jpg', 'article_date' => '2020-12-29 15:40:32', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 12 => array( 'Article' => array( 'id' => '12865', 'article_category_id' => '1', 'title' => 'NOC makes Rs 13 Billion Profit despite Lockdown ', 'sub_title' => '', 'summary' => 'December 29: The profit of Nepal Oil Corporation has increased despite a decline in fuel consumption due to the effect of coronavirus, the state-run national news agency reported.', 'content' => '<p><span style="font-size:11pt"><span style="font-family:Calibri"><span style="font-size:12.0pt"><span style="font-family:"Times New Roman"">December 29: The profit of Nepal Oil Corporation has increased despite a decline in fuel consumption due to the effect of coronavirus, the state-run national news agency reported.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri"><span style="font-size:12.0pt"><span style="font-family:"Times New Roman"">According to the final audit report of the last fiscal year 2076/77, the state-owned corporation earned Rs 12.87 billion profit in a year. </span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri"><span style="font-size:12.0pt"><span style="font-family:"Times New Roman"">According to the report, the corporation's profit has increased as id did not have to incur transportation after the Motihari-Amalekhgunj Petroleum Pipeline came into operation. </span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri"><span style="font-size:12.0pt"><span style="font-family:"Times New Roman"">Surendra Poudel, executive director of NOC, said that the corporation's profit has increased in the last fiscal year 2076/77 due to the earning from interest, savings in transportation expenses and reduction of subsidy on LPG. According to him, the corporation has earned an average profit of five percent. </span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri"><span style="font-size:12.0pt"><span style="font-family:"Times New Roman"">NOC earned profit of Rs 19.36 billion in FY 2072/73, Rs 9.45 billion in FY 2073/74 and Rs 3.58 billion in FY 2074/75. Likewise, there was profit of Rs 8.75 billion and Rs 12.87 billion profit in FY 2075/76 and FY 2076/77. </span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri"><span style="font-size:12.0pt"><span style="font-family:"Times New Roman"">The profit has increased after the reduction in the price of fuel in the international market and automatic pricing system adopted by the corporation. The report stated that saving in fuel transportation cost and interest from previous year’s profit helped increase the profit this year. </span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri"><span style="font-size:12.0pt"><span style="font-family:"Times New Roman"">Furthermore, according to the report, NOC saved Rs 1.47 billion in 10 months period for importing fuel through the pipeline. Likewise, the corporation informed that it earned Rs 1.77 billion from the interest of last year’s profit. </span></span></span></span></p> <p> </p> ', 'published' => true, 'created' => '2020-12-29', 'modified' => '2020-12-29', 'keywords' => '', 'description' => '', 'sortorder' => '12611', 'image' => '20201229030721_1609141710.nigam.jpg', 'article_date' => '2020-12-29 15:06:43', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 13 => array( 'Article' => array( 'id' => '12863', 'article_category_id' => '1', 'title' => 'Government Preparing to Open Foreign Investment in Agriculture Sector', 'sub_title' => '', 'summary' => 'December 29: The government is preparing to open the agriculture sector of Nepal for foreign investment after a lengthy discussion regarding this issue.', '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"">December 29: The government is preparing to open the agriculture sector of Nepal for foreign investment after a lengthy discussion regarding this issue.</span></span></span></span></p> <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 Industry, Commerce and Supplies is making necessary preparations to allow foreign investment in nine different sectors including the 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"">So far, the government has denied permission for foreign investment in agriculture sector although it has given high priority for foreign investment in other sectors.</span></span></span></span></p> <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 Foreign Investment and Technology Transfer Act 2075 categorizes several areas under the agriculture sector including production of food, animal husbandry, fishery, bee rearing, fruits and vegetables farming, oil production and diary farming as ineligible for foreign investment.</span></span></span></span></p> <p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:"Arial Unicode MS"">Realizing this provision as the main obstacle for the commercialization of the agriculture sector and a hindrance to creating new employment opportunities, the ministry has coordinated with the concerned authorities to prepare a report for opening foreign investment in the 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"">A source at the ministry informed New Business Age that the government will issue a new policy related to foreign investment in agriculture sector by publishing it in the Nepal Gazette within a few days. The official however declined to reveal the ceiling of foreign investment.</span></span></span></span></p> <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 team headed by the Director General of the Department of Industry, which also included representatives form the Investment Board, Ministry of Agriculture and Livestock Development, Ministry of Labour and Employment had conducted a study to ascertain the viability of foreign investment in agriculture sector of Nepal.</span></span></span></span></p> ', 'published' => true, 'created' => '2020-12-29', 'modified' => '2021-01-06', 'keywords' => '', 'description' => '', 'sortorder' => '12610', 'image' => '20201229124726_1609198507.Clipboard08.jpg', 'article_date' => '2020-12-29 12:46:56', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => false, 'user_id' => '34' ) ), (int) 14 => array( 'Article' => array( 'id' => '12862', 'article_category_id' => '1', 'title' => 'Sugarcane Farmers Withdraw Protests after Signing a Deal with Government', 'sub_title' => '', 'summary' => 'December 29: Sugarcane farmers have postponed their two-weeks of protests in the capital after signing an agreement with the government for the payment of their dues.', '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"">December 29: Sugarcane farmers have postponed their two-weeks of protests in the capital after signing an agreement with the government for the payment of their dues.</span></span></span></span></p> <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 agitating farmers signed a four-point agreement with the government on Monday (December 28). </span></span></span></span></p> <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 per the agreement reached between representatives of the Ministry of Industry, Commerce and Supplies and the farmers, the sugar mill owners have been given 21 days to clear all the dues.</span></span></span></span></p> <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 two sides also agreed to form a study committee to prepare a report related to the farmers and sugar industries within 120 days.</span></span></span></span></p> <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 had brokered a deal between the farmers and the sugar mill owners last year also. However, the farmers began fresh protest this year after the agreement was not implemented.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:Cambria"><span style="font-size:14.0pt"><span style="font-family:"Arial Unicode MS"">Deputy spokesperson of the ministry Urmila KC confirmed that the government had reached an understanding with the farmers. She added that the government was making necessary preparations to implement the deal so that a similar situation would not arise in the future again.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:Cambria"><span style="font-size:14.0pt"><span style="font-family:"Arial Unicode MS"">The ministry officials further said that the defaulting sugar mills will face action if the fail to clear the dues within the given time.</span></span></span></span></p> <p> </p> <p> </p> <p> </p> ', 'published' => true, 'created' => '2020-12-29', 'modified' => '2020-12-29', 'keywords' => '', 'description' => '', 'sortorder' => '12609', 'image' => '20201229113333_1609164432.jpg', 'article_date' => '2020-12-29 11:32:45', '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' => '12876', 'article_category_id' => '1', 'title' => 'Nepal Preparing to Export Citric Fruits to China', 'sub_title' => '', 'summary' => 'December 31: The government has started preparations to export citric fruits to China as per an understanding reached with the Chinese government last 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"">December 31: The government has started preparations to export citric fruits to China as per an understanding reached with the Chinese government last 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"">During Chinese Presiden Xi Jinping’s state visit to Nepal last year, the Ministry of Agriculture and Livestock Development had signed an agreement with China’s Agriculture Department to export citric fruits to the northern neighbour.</span></span></span></span></p> <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 would have already started exporting citric fruits like oranges and lemons to China had the officials of the two countries worked as per the agreement. However, the delay in the process has pushed back the export but it will take place within the current fiscal year, claimed the agriculture 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"">“We are working continuously to begin the process of export. I am certain that the export to China’s Tibet will take place soon even if it is just for the testing phase,” said Yogendra Kumar Karki, secretary at the agriculture ministry, adding that the process of export is heading to the right direction even though it has been delayed. Secretary Karki believes that the export will begin soon.</span></span></span></span></p> <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 as well as Nepal Agriculture Research Council and other concerned agencies are making efforts to export citric fruits to China.</span></span></span></span></p> <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 is also facilitating the process among orange farmers, businessmen and Chinese agents.</span></span></span></span></p> <p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:"Arial Unicode MS"">Earlier, Nepal had signed a similar agreement with China in 2012 for the export of citric fruits. However, Nepal could not export the fruits due to a clause which demanded that the products should be grown in fields that are free from pests and diseases. The latest agreement has only demanded fruits free from 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"">If the standard maintained by Nepal is approved by China, the country will be exporting 200 to 300 metric tons of fruits soon, informed Devraj Adhikari, chief of the Prime Minister Agriculture Modernization Project, Sindhuli. He added that if the export in the testing phase becomes successful, they will increase commercial production for export.</span></span></span></span></p> <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 per the provision in the agreement, Nepal should store the fruits at a certain temperature for 21 days and also needs to transport them in vehicles with cold storage facility. These technologies are the major challenges for Nepal.</span></span></span></span></p> <p> </p> ', 'published' => true, 'created' => '2020-12-31', 'modified' => '2020-12-31', 'keywords' => '', 'description' => '', 'sortorder' => '12623', 'image' => '20201231121240_20190220125347_aaa.jpg', 'article_date' => '2020-12-31 12:12:09', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 1 => array( 'Article' => array( 'id' => '12875', 'article_category_id' => '1', 'title' => 'Impact of Covid-19 not as Severe as Expected: NRB Governor', 'sub_title' => '', 'summary' => 'December 31: The impact of Covid-19 on Nepal’s economy has been less severe than expected, according to Nepal Rastra Bank’s Governor Maha Prasad Adhikari.', '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"">December 31: The impact of Covid-19 on Nepal’s economy has been less severe than expected, according to Nepal Rastra Bank’s Governor Maha Prasad Adhikari.</span></span></span></span></p> <p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:"Arial Unicode MS"">Speaking with the new executive committee members of the Nepalese Association of Financial Journalists (NAFIJ) during a virtual meeting on Wednesday (December 30), Governor Adhikari said that the financial activities of most of the sectors except a few are satisfactory at present and that the economy will witness financial in the coming days.</span></span></span></span></p> <p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:"Arial Unicode MS"">Governor Adhikari said that only 6 percent industries were fully operational in the month of Jestha (mid-May to mid-June) while the up to 57 percent industries are fully operational now. This will have a positive effect on the economy, added Adhikari.</span></span></span></span></p> <p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:"Arial Unicode MS"">Governor Adhikari further said that the flow of loan from the banking sector has increased this winter. He claimed that the high liquidity of banks will now come in good use with the increase in flow of loan. </span></span></span></span></p> <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 said that the central bank opened forms for refinancing only three months ago and the submissions were approved only in the month of Kartik (mid-October to mid-November). He added that the work procedure for economic revival was approved the following month and therefore it is still now clear how much contributions did a particular bank made. </span></span></span></span></p> <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 added that the central bank has so far approved refinancing of Rs 81 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"">“So far, we have approved a total of 81 billion refinancing to 41,000 debtors. Among them, more than 33,000 borrowers are entitled to refinancing facility for small loan of less than Rs 1.5 million,” said Governor Adhikari.</span></span></span></span></p> <p> </p> ', 'published' => true, 'created' => '2020-12-31', 'modified' => '2020-12-31', 'keywords' => '', 'description' => '', 'sortorder' => '12622', 'image' => '20201231114842_20201211011108_20200407080848_IMG_4955 - Copy.JPG', 'article_date' => '2020-12-31 11:48:04', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 2 => array( 'Article' => array( 'id' => '12874', 'article_category_id' => '1', 'title' => 'Government Signs $156 Million Deal with ADB for Modernization of Power Transmission ', 'sub_title' => '', 'summary' => 'December 31: The Government of Nepal has signed a $156 million (Rs 18.25 billion) deal with the Asian Development Bank (ADB) for concessional loan to modernize power transmission and distribution systems in the country.', 'content' => '<p><span style="font-size:12pt"><span style="font-family:Calibri"><span style="font-size:14.0pt"><span style="font-family:Arial">December 31: The Government of Nepal has signed a $156 million (Rs 18.25 billion) deal with the Asian Development Bank (ADB) for concessional loan to </span></span><span style="font-size:14.0pt"><span style="font-family:Arial">modernize power transmission and distribution systems in the country.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:Calibri"><span style="font-size:14.0pt"><span style="font-family:Arial">Joint Secretary at the Ministry of Finance Shree Krishna Nepal and </span></span><span style="font-size:14.0pt"><span style="font-family:Arial">Rudi Van Dael, officer-in-charge of ADB for Nepal, signed the agreement amid a function at the ministry on December 30. </span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:Calibri"><span style="font-size:14.0pt"><span style="font-family:Arial">Out of the total cost of Rs 22.81 billion required for the project, the ADB will fund Rs 18.25 billion while the Government of Nepal and the Nepal Electricity Authority will contribute Rs 4.56 billion, informed the ministry.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:Calibri"><span style="font-size:14.0pt"><span style="font-family:Arial">According to the ADB, the Electricity Grid Modernization Project will finance the automation of grid substations throughout the country, modernize distribution and transmission systems in various areas, complete the installation of smart meters in the Kathmandu Valley, and support sector reform and institutional strengthening of the Nepal Electricity Authority (NEA).</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:Calibri"><span style="font-size:14.0pt"><span style="font-family:Arial">ADB said in a statement that the project will, among others, automate 34 existing grid substations, install 220-kilovolt (kV) and 132-kV automated grid substations, construct a total of 113 kilometers (km) of new transmission lines, upgrade 144 km of existing transmission lines with efficient conductors, and expand the installation of smart meters for 350,000 electricity consumers in the Kathmandu Valley. An electricity distribution system command and control center in Kathmandu will also be constructed. </span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:Calibri"><span style="font-size:14.0pt"><span style="font-family:Arial"> “ADB has been actively involved in major policy and institutional reforms in the power sector, and this project is a continuation of our support to provide reliable and efficient electricity supply in the country,” the statement quoted ADB Principal Energy Specialist Jiwan Acharya as saying. “Moreover, this project will position Nepal to be better prepared in its post-pandemic economic rebuilding.”</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:Calibri"><span style="font-size:14.0pt"><span style="font-family:Arial">The concessional loan was approved by the ADB in late November, according to a statement published by the bank on November 27.</span></span></span></span></p> <p> </p> <p> </p> <p> </p> <p> </p> ', 'published' => true, 'created' => '2020-12-31', 'modified' => '2020-12-31', 'keywords' => '', 'description' => '', 'sortorder' => '12621', 'image' => '20201231111120_IMG_0867.jpg', 'article_date' => '2020-12-31 11:10:33', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => false, 'user_id' => '34' ) ), (int) 3 => array( 'Article' => array( 'id' => '12873', 'article_category_id' => '1', 'title' => 'Bankers ‘Not Happy’ with Central Bank’s Policies', 'sub_title' => '', 'summary' => 'December 30: Bankers have accused that Nepal Rastra Bank has not been able to introduce stable policies. ', '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"">December 30: Bankers have accused that Nepal Rastra Bank has not been able to introduce stable policies. </span></span></span></span></p> <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 a virtual meeting organized by Nepal Bankers Association during its annual general meeting on Tuesday (December 29), representatives of the Confederation of Banks and Financial Institutions of Nepal (CBFIN) said that the multiple amendments of the provisions of the monetary policy by the central bank was not appropriate. </span></span></span></span></p> <p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:"Arial Unicode MS"">Speaking at the virtual meeting, CBFIN Chairman Pawan Golyan said that the central bank’s decision to fix the service charge of 0.75 percent just because some banks were charging high service charge was not fair. This, according to Golyan, has caused problems for the BFIs for micro management.</span></span></span></span></p> <p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:"Arial Unicode MS"">Meanwhile, Governor of Nepal Rastra Bank Maha Prasad Adhikari said that the current policy of the central bank are aimed at the welfare of the sectors affected by Covid-19 while other provisions have not been changed in the current context.</span></span></span></span></p> <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 central bank’s policies are aimed at revitalizing the economy that has been badly affected by coronavirus. Our policies also compliment the state’s objective of achieving 7 percent economic growth,” said Governor Adhikari.</span></span></span></span></p> <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 argued that the latest measures taken by the central bank to remove some anomalies should not be considered as a shift in Nepal Rastra Bank’s policy.</span></span></span></span></p> <p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:"Arial Unicode MS"">Governor Adhikari informed that the demand for loan was low during the start of the current fiscal year but the flow of loan and deposit collection has improved now.</span></span></span></span></p> <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 central bank’s governor also stressed that the banking system should now go digital.</span></span></span></span></p> <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 Nepal Bankers Association Bhuvan Kumar Dahal said that it would take some more time for the country’s economy to return back to normalcy but there is a silver lining as most of the sectors have already started operating at the moment.</span></span></span></span></p> <p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:"Arial Unicode MS"">Meanwhile, Nepal Bankers Association felicitated former governor of NRB and ex-chairman of Nabil Bank Sagyendra Pyara Shrestha during the AGM.</span></span></span></span></p> <p> </p> ', 'published' => true, 'created' => '2020-12-30', 'modified' => '2020-12-30', 'keywords' => '', 'description' => '', 'sortorder' => '12620', 'image' => '20201230031428_1609284884.Clipboard11.jpg', 'article_date' => '2020-12-30 15:14:01', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 4 => array( 'Article' => array( 'id' => '12872', 'article_category_id' => '266', 'title' => 'Ncell Ties up with ‘Miss Universe Nepal 2020’', 'sub_title' => '', 'summary' => 'December 30: Ncell Axiata Limited, as a part of its #unpause campaign and GGO initiative, has tied-up with Brave Bold Beautiful Pvt Ltd for ‘Miss Universe Nepal 2020’. ', 'content' => '<p><span style="font-size:12pt"><span style="font-family:Cambria"><span style="font-size:14.0pt"><span style="font-family:Times">December 30: Ncell Axiata Limited, as a part of its #unpause campaign and GGO initiative, has tied-up with Brave Bold Beautiful Pvt Ltd for ‘Miss Universe Nepal 2020’. The collaboration aims at celebrating the spirit of women empowerment and supporting women who are moving ahead in life to chase their dreams, reads a statement posted by the company on its website. </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:Times">The statement added that Miss Universe Nepal is an all-inclusive leadership platform that believe in empowering Nepalese women to grow them into leaders. </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:Times">Ncell said it recently launched an attractive ‘GGO SIM’ pack specially designed for women with the theme ‘Aghi Badau’. </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:Times">“Ncell’s GGO philosophy is about encouraging progressive women to move forward to achieve their dreams. Miss Universe Nepal with its inclusivity approach for the first time in Nepal, shares a similar philosophy around its Brave, Bold, Beautiful approach,” the statement further said. </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:Times">On December 26, as a part of this partnership, Ncell also organised an interaction session with the top 18 finalists of Miss Nepal Universe with the mentors Dr Raveena Desraj (Deputy CEO, Mega Bank), Priyanka Karki (actor) and Pooja Rijal (Solo Traveller). <br /> </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:Times">One from the finalists will be crowned as title winner amid the finale on Wednesday evening. The winner will bag prizes worth Rs 2.5 million. Alongside attractive cash prize, the organisers of this event have taken up the challenge to mainstream inclusivity in such beauty pageants globally, Ncell added. <br /> </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:Times">Ncell expressed its delight to tie-up with Miss Universe Nepal to encourage, empower women and support them achieve their aspirations with positivity and confidence. </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:Times">The statement added that Miss Universe Nepal provides the contestants with world-renowned coaching and grooming in addition to advance networking, business and life skills, besides taking winning contestant to the global stage to represent Nepal. </span></span></span></span></p> <p> </p> ', 'published' => true, 'created' => '2020-12-30', 'modified' => '2020-12-30', 'keywords' => '', 'description' => '', 'sortorder' => '12619', 'image' => '20201230025209_Miss-Universe-Nepal-2020.jpg', 'article_date' => '2020-12-30 14:51:32', 'homepage' => false, 'breaking_news' => false, 'main_news' => false, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 5 => array( 'Article' => array( 'id' => '12871', 'article_category_id' => '1', 'title' => 'NITDB Expands Infrastructure at Birgunj ICP', 'sub_title' => '', 'summary' => 'December 30: The physical infrastructure of the Nepal-India Integrated Check Post (ICP) in Birgunj has been expanded following an increase in volume of import and export at the transit point.', 'content' => '<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt">December 30: The physical infrastructure of the Nepal-India Integrated Check Post (ICP) in Birgunj has been expanded following an increase in volume of import and export at the transit point.</span></span></span></p> <p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt">The Nepal Intermodal Transport Development Committee (NITDB) has built a new parking lot and a warehouse at the ICP.</span></span></span></p> <p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt">NITDB Birgunj Chief Kamal Gyawali informed that they expanded the infrastructure because the import and export from the old Inarwa checkpoint of Birgunj was diverted to the ICP. </span></span></span></p> <p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt">With the increase in import and export from the ICP, the warehouse, parking lot, and other structures were getting congested.</span></span></span></p> <p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt">According to Gyawali, a new parking lot for 300 to 350 vehicles has come into operation at the ICP. "We had to build a new parking lot as the previous one was not sufficient. The new parking lot of 21,000 square meters has been added after the size of import and export from the ICP started increasing," he informed New Business Age.</span></span></span></p> <p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt">Earlier, there was a parking lot for 250 to 300 vehicles. Vehicles not parked in the parking lot had to be parked on the road. Secretary-General of the Birgunj Chamber of Commerce and Industry Madhav Rajpal said that the new structure has become operational. </span></span></span></p> <p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt">"The ICP is becoming overcrowded as almost all the transactions at the Birgunj customs are diverted to the ICP. As foreign trade has been increasing every year, there should be strong management of such infrastructure at the border," he informed.</span></span></span></p> <p> </p> ', 'published' => true, 'created' => '2020-12-30', 'modified' => '2020-12-30', 'keywords' => '', 'description' => '', 'sortorder' => '12618', 'image' => '20201230024130_1609284634.Clipboard08.jpg', 'article_date' => '2020-12-30 14:40:36', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 6 => array( 'Article' => array( 'id' => '12870', 'article_category_id' => '1', 'title' => 'India yet to pay Three Years’ VAT under Koshi Agreement', 'sub_title' => '', 'summary' => 'December 30: The Koshi Agreement signed between Nepal and India 64 years ago states that India has to pay value added tax while working in Nepali territory. ', '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"">December 30: The Koshi Agreement signed between Nepal and India 64 years ago states that India has to pay value added tax while working in Nepali territory. Nepali contractors have paid Rs 350 million VAT to India for the construction of Koshi barrage to control flood but the Indian side has not submitted the amount to the Government 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"">Although the Biratnagar-based contact office of Nepal has time and again requested the Koshi Project Office in Birpur to deposit the collected amount, the Government of Nepal is yet to receive it.</span></span></span></span></p> <p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:"Arial Unicode MS"">Official at the Biratnagar-based contact office Santosh Kumar Limbu says that the Indian side has not paid the due amount since Fiscal Year 2075/76.</span></span></span></span></p> <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 Koshi Agreement signed on Baishakh 12, 2011 BS clearly states that the Indian side will have to pay taxes for the construction works done on Nepali’s soil. It also includes land tax. Although India has been paying land tax, Limbu says India is yet to submit the NCT (Nepal Contractor Tax) under VAT which it has already collected from the contractors.</span></span></span></span></p> <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 Koshi Agreement has granted India a total of 13,337 bighas of land in Saptari, Udayapur and Sunsari in lease for 199 years but those lands will remain under the jurisdiction of Nepal’s laws.</span></span></span></span></p> <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 Limbu, the Indian side is involved in construction worth millions of rupees every year in the Koshi region. India undertakes the construction works by sub-contracting them to the construction companies. While making payments to the contractors, India used to deduct 13 percent tax and provide it to the Government of Nepal. But this has stopped since the last three years, informed Limbu.</span></span></span></span></p> <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 Indian government itself deducts the VAT from the contractors and hands over to Nepal. I have been requesting the Indian side to release the amount since the last three years but they have been delaying the payment under different pretexts,” said Limbu.</span></span></span></span></p> <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 informed that the Indian side has pledged to make the payment through online system but has been unable to do so due to technical problems.</span></span></span></span></p> <p> </p> ', 'published' => true, 'created' => '2020-12-30', 'modified' => '2020-12-30', 'keywords' => '', 'description' => '', 'sortorder' => '12617', 'image' => '20201230012349_1609284714.12.jpg', 'article_date' => '2020-12-30 13:23:17', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 7 => array( 'Article' => array( 'id' => '12868', 'article_category_id' => '1', 'title' => 'India to Lift Ban on Export of Onion from January 1', 'sub_title' => '', 'summary' => 'December 30: India has decided to lift a ban imposed on export of onion. ', '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"">December 30: India has decided to lift a ban imposed on export of onion. India had banned the export of onion on September 14 due to shortage in its domestic market. The move was aimed at controlling price hike of onion.</span></span></span></span></p> <p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:"Arial Unicode MS"">Issuing a statement on Monday (December 28), the Ministry of Commerce and Industry of India informed that the ban on export of onion will be lifted from Friday, January 1.</span></span></span></span></p> <p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:"Arial Unicode MS"">Director General of the Department of Customs Suman Dahal says that India might have lifted the ban due to increase in production of onion. Dahal says that the price of onion in Nepal will decline once the supply from India resumes.</span></span></span></span></p> <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 price of onion had skyrocketed in the domestic market of Nepal a day after India banned the export of onion.</span></span></span></span></p> <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 price list of Kalimati Fruits and Vegetables Market, onion was being sold at Rs 60 per kilogram in the wholesale market on September 14. The price increased by 99 percent in two days after the ban and was sold for Rs 119 per kg. Onion was sold for as much as Rs 160 per kg in the retail market.</span></span></span></span></p> <p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:"Arial Unicode MS"">The price was lowered to some extent after the Ministry of Industry, Commerce and Supplies took action against some traders for hoarding and selling onion in the black market.</span></span></span></span></p> <p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:"Arial Unicode MS"">Recently, the price of local onion has dropped to Rs 60 per kg in the wholesale market of Kalimati while onions imported from China are being sold at Rs 65 per kg.</span></span></span></span></p> ', 'published' => true, 'created' => '2020-12-30', 'modified' => '2020-12-30', 'keywords' => '', 'description' => '', 'sortorder' => '12616', 'image' => '20201230115520_20200916052134_1600205898.Clipboard06.jpg', 'article_date' => '2020-12-30 11:54:37', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 8 => array( 'Article' => array( 'id' => '12869', 'article_category_id' => '1', 'title' => 'Website of Kalimati Fruits and Vegetables Development Board Hacked', 'sub_title' => '', 'summary' => 'December 30: The website of Kalimati Fruits and Vegetables Development Board has been hacked since one week.', '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"">December 30: The website of Kalimati Fruits and Vegetables Development Board has been hacked since one week.</span></span></span></span></p> <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 website users and consumers have not been able to check the price list since the website started experiencing problems.</span></span></span></span></p> <p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:"Arial Unicode MS"">This has posed serious threat for businessmen to charge price arbitrarily.</span></span></span></span></p> <p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:"Arial Unicode MS"">Executive Director of the board Binod Kumar Bhattarai admitted that the website has been hacked due to which the consumers are facing trouble. He added that the board is working to resolve the problem. </span></span></span></span></p> <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 Bhattarai, the board has been updating the daily price list of vegetables and fruits through its Facebook page.</span></span></span></span></p> <p> </p> ', 'published' => true, 'created' => '2020-12-30', 'modified' => '2020-12-30', 'keywords' => '', 'description' => '', 'sortorder' => '12615', 'image' => '20201230123926_86278455_1296226060563740_4388980625416126464_n.jpg', 'article_date' => '2020-12-30 12:38:13', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => false, 'user_id' => '34' ) ), (int) 9 => array( 'Article' => array( 'id' => '12866', 'article_category_id' => '1', 'title' => 'Use of Smartphones Increasing', 'sub_title' => '', 'summary' => 'December 29: Coronavirus has adversely affected the entire economy but the smartphone market is flourishing amid current crisis.', '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"">December 29: Coronavirus has adversely affected the entire economy but the smartphone market is flourishing amid current crisis.</span></span></span></span></p> <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 businesses affected by coronavirus are yet to return back to normalcy. However, the demand for smartphones and its business is growing despite the fragile 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"">According to the Department of Customs, mobile phones worth Rs 17.64 billion were imported in the country during the first five months of the current fiscal year, which is Rs 7 billion more than the import made during the corresponding period of last fiscal year.</span></span></span></span></p> <p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:"Arial Unicode MS"">During the first five months of last fiscal year, mobile phones worth Rs 10.67 billion were imported in 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"">The smartphone market had been initially affected after the government imposed lockdown on March 24. But the demand for smartphones started increasing after the lockdown was eased in late July.</span></span></span></span></p> <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 Deepak Malhotra, chairman of Nepal Mobile Phones Importers’ Association, people who used to own normal phones started using smartphones to kill time during lockdown. The demand for smartphones has also increased for virtual meetings. He added that the demand for smartphones has also increased because smuggling of such phones has declined due to border obstruction.</span></span></span></span></p> <p> </p> ', 'published' => true, 'created' => '2020-12-29', 'modified' => '2020-12-29', 'keywords' => '', 'description' => '', 'sortorder' => '12614', 'image' => '20201229031941_1609199035.Clipboard14.jpg', 'article_date' => '2020-12-29 15:19:15', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 10 => array( 'Article' => array( 'id' => '12864', 'article_category_id' => '1', 'title' => 'Paddy Production Increases this Year', 'sub_title' => '', 'summary' => 'December 29: The production of paddy has increased in the current fiscal by almost 71,000 metric tons compared to the last 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"">December 29: The production of paddy has increased in the current fiscal by almost 71,000 metric tons compared to the last fiscal year. The Ministry of Agriculture and Livestock Development issued a statement on Monday (December 28) informing about the increase in production of paddy 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"">According to the information provided by the ministry, the seasonal and annual production of paddy increased by 70,831 metric tons during the review period.</span></span></span></span></p> <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 total amount of paddy produced this year was 5.62 million metric toms. Last year, the production of paddy was 5.55 million metric tons, according to 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"">The ministry said that the availability of workers due to lockdown, active monsoon and availability of seeds contributed to the increase in production of paddy in 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"">Paddy productivity has increased to 3.82 tons per hectare, which is all-time high in the country. There has been an increase in paddy productivity by 0.28 percent this year compared to the last fiscal year, according to the statement.</span></span></span></span></p> <p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:"Arial Unicode MS"">An analysis of five years of records show that the production of paddy has increased by 7.48 percent in the current fiscal year compared to FY 2017/18.</span></span></span></span></p> <p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:"Arial Unicode MS"">Although the ministry had expected production of paddy to increase much more, lack of chemical fertilizer during the plantation season caused a setback to achieve the goal, informed Dr Shree Ram Ghimire, spokesperson of the ministry.</span></span></span></span></p> <p> </p> ', 'published' => true, 'created' => '2020-12-29', 'modified' => '2020-12-29', 'keywords' => '', 'description' => '', 'sortorder' => '12613', 'image' => '20201229023041_1609198819.Clipboard13.jpg', 'article_date' => '2020-12-29 14:30:05', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 11 => array( 'Article' => array( 'id' => '12867', 'article_category_id' => '1', 'title' => 'Entrepreneurs Warn of Protests if the Government Delays Relief Package', 'sub_title' => '', 'summary' => 'December 29: Entrepreneurs have jointly demanded relief package with the government for the revival of economy that has been badly affected by the coronavirus pandemic.', '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"">December 29: Entrepreneurs have jointly demanded relief package with the government for the revival of economy that has been badly affected by the coronavirus pandemic. They have warned of stern protests if the government does not fulfill their demand.</span></span></span></span></p> <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 of 32 different sectors held extensive discussions on Monday (December 28) and then sent letters to the prime minister and various other government bodies demanding relief package.</span></span></span></span></p> <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 are also preparing to form Covid-19 victims’ struggle committee to press for their demand.</span></span></span></span></p> <p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:"Arial Unicode MS"">Those attending the discussion on Monday were from wide range of sectors including transportation, tourism industry, hotel, medicine, handicraft, real estate among others. They have warned of joint protest if their demand is not addressed. Participants of the meeting concluded that the government was not interested in reviving the economy that has been paralyzed by the 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"">They said that full lockdown and partial restrictions for ten months has resulted in job loss for many people. Even in such dire situation, the government has not provided any relief package to uplift the private sector, according to the entrepreneurs.</span></span></span></span></p> <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 N-PABSON Karna Bahadur Shahi said that they decided to initiate protest programmes after the government authorities including the prime minister’s office, Nepal Rastra Bank and the concerned ministries turned a deaf ear to the repeated requests made by the entrepreneurs as well as their umbrella bodies.</span></span></span></span></p> <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 have demanded immediate release of relief package and waiver of taxes and fines of the businesses affected by coronavirus. They have also urged the government to pay for the bank’s interest and rent and 50 percent salary of employees during the affected period.</span></span></span></span></p> <p> </p> ', 'published' => true, 'created' => '2020-12-29', 'modified' => '2020-12-29', 'keywords' => '', 'description' => '', 'sortorder' => '12612', 'image' => '20201229034113_icerik_2980.jpg', 'article_date' => '2020-12-29 15:40:32', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 12 => array( 'Article' => array( 'id' => '12865', 'article_category_id' => '1', 'title' => 'NOC makes Rs 13 Billion Profit despite Lockdown ', 'sub_title' => '', 'summary' => 'December 29: The profit of Nepal Oil Corporation has increased despite a decline in fuel consumption due to the effect of coronavirus, the state-run national news agency reported.', 'content' => '<p><span style="font-size:11pt"><span style="font-family:Calibri"><span style="font-size:12.0pt"><span style="font-family:"Times New Roman"">December 29: The profit of Nepal Oil Corporation has increased despite a decline in fuel consumption due to the effect of coronavirus, the state-run national news agency reported.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri"><span style="font-size:12.0pt"><span style="font-family:"Times New Roman"">According to the final audit report of the last fiscal year 2076/77, the state-owned corporation earned Rs 12.87 billion profit in a year. </span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri"><span style="font-size:12.0pt"><span style="font-family:"Times New Roman"">According to the report, the corporation's profit has increased as id did not have to incur transportation after the Motihari-Amalekhgunj Petroleum Pipeline came into operation. </span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri"><span style="font-size:12.0pt"><span style="font-family:"Times New Roman"">Surendra Poudel, executive director of NOC, said that the corporation's profit has increased in the last fiscal year 2076/77 due to the earning from interest, savings in transportation expenses and reduction of subsidy on LPG. According to him, the corporation has earned an average profit of five percent. </span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri"><span style="font-size:12.0pt"><span style="font-family:"Times New Roman"">NOC earned profit of Rs 19.36 billion in FY 2072/73, Rs 9.45 billion in FY 2073/74 and Rs 3.58 billion in FY 2074/75. Likewise, there was profit of Rs 8.75 billion and Rs 12.87 billion profit in FY 2075/76 and FY 2076/77. </span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri"><span style="font-size:12.0pt"><span style="font-family:"Times New Roman"">The profit has increased after the reduction in the price of fuel in the international market and automatic pricing system adopted by the corporation. The report stated that saving in fuel transportation cost and interest from previous year’s profit helped increase the profit this year. </span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri"><span style="font-size:12.0pt"><span style="font-family:"Times New Roman"">Furthermore, according to the report, NOC saved Rs 1.47 billion in 10 months period for importing fuel through the pipeline. Likewise, the corporation informed that it earned Rs 1.77 billion from the interest of last year’s profit. </span></span></span></span></p> <p> </p> ', 'published' => true, 'created' => '2020-12-29', 'modified' => '2020-12-29', 'keywords' => '', 'description' => '', 'sortorder' => '12611', 'image' => '20201229030721_1609141710.nigam.jpg', 'article_date' => '2020-12-29 15:06:43', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 13 => array( 'Article' => array( 'id' => '12863', 'article_category_id' => '1', 'title' => 'Government Preparing to Open Foreign Investment in Agriculture Sector', 'sub_title' => '', 'summary' => 'December 29: The government is preparing to open the agriculture sector of Nepal for foreign investment after a lengthy discussion regarding this issue.', '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"">December 29: The government is preparing to open the agriculture sector of Nepal for foreign investment after a lengthy discussion regarding this issue.</span></span></span></span></p> <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 Industry, Commerce and Supplies is making necessary preparations to allow foreign investment in nine different sectors including the 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"">So far, the government has denied permission for foreign investment in agriculture sector although it has given high priority for foreign investment in other sectors.</span></span></span></span></p> <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 Foreign Investment and Technology Transfer Act 2075 categorizes several areas under the agriculture sector including production of food, animal husbandry, fishery, bee rearing, fruits and vegetables farming, oil production and diary farming as ineligible for foreign investment.</span></span></span></span></p> <p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:"Arial Unicode MS"">Realizing this provision as the main obstacle for the commercialization of the agriculture sector and a hindrance to creating new employment opportunities, the ministry has coordinated with the concerned authorities to prepare a report for opening foreign investment in the 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"">A source at the ministry informed New Business Age that the government will issue a new policy related to foreign investment in agriculture sector by publishing it in the Nepal Gazette within a few days. The official however declined to reveal the ceiling of foreign investment.</span></span></span></span></p> <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 team headed by the Director General of the Department of Industry, which also included representatives form the Investment Board, Ministry of Agriculture and Livestock Development, Ministry of Labour and Employment had conducted a study to ascertain the viability of foreign investment in agriculture sector of Nepal.</span></span></span></span></p> ', 'published' => true, 'created' => '2020-12-29', 'modified' => '2021-01-06', 'keywords' => '', 'description' => '', 'sortorder' => '12610', 'image' => '20201229124726_1609198507.Clipboard08.jpg', 'article_date' => '2020-12-29 12:46:56', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => false, 'user_id' => '34' ) ), (int) 14 => array( 'Article' => array( 'id' => '12862', 'article_category_id' => '1', 'title' => 'Sugarcane Farmers Withdraw Protests after Signing a Deal with Government', 'sub_title' => '', 'summary' => 'December 29: Sugarcane farmers have postponed their two-weeks of protests in the capital after signing an agreement with the government for the payment of their dues.', '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"">December 29: Sugarcane farmers have postponed their two-weeks of protests in the capital after signing an agreement with the government for the payment of their dues.</span></span></span></span></p> <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 agitating farmers signed a four-point agreement with the government on Monday (December 28). </span></span></span></span></p> <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 per the agreement reached between representatives of the Ministry of Industry, Commerce and Supplies and the farmers, the sugar mill owners have been given 21 days to clear all the dues.</span></span></span></span></p> <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 two sides also agreed to form a study committee to prepare a report related to the farmers and sugar industries within 120 days.</span></span></span></span></p> <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 had brokered a deal between the farmers and the sugar mill owners last year also. However, the farmers began fresh protest this year after the agreement was not implemented.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:Cambria"><span style="font-size:14.0pt"><span style="font-family:"Arial Unicode MS"">Deputy spokesperson of the ministry Urmila KC confirmed that the government had reached an understanding with the farmers. She added that the government was making necessary preparations to implement the deal so that a similar situation would not arise in the future again.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:Cambria"><span style="font-size:14.0pt"><span style="font-family:"Arial Unicode MS"">The ministry officials further said that the defaulting sugar mills will face action if the fail to clear the dues within the given time.</span></span></span></span></p> <p> </p> <p> </p> <p> </p> ', 'published' => true, 'created' => '2020-12-29', 'modified' => '2020-12-29', 'keywords' => '', 'description' => '', 'sortorder' => '12609', 'image' => '20201229113333_1609164432.jpg', 'article_date' => '2020-12-29 11:32:45', '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
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 133]file not found!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' => '12876', 'article_category_id' => '1', 'title' => 'Nepal Preparing to Export Citric Fruits to China', 'sub_title' => '', 'summary' => 'December 31: The government has started preparations to export citric fruits to China as per an understanding reached with the Chinese government last 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"">December 31: The government has started preparations to export citric fruits to China as per an understanding reached with the Chinese government last 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"">During Chinese Presiden Xi Jinping’s state visit to Nepal last year, the Ministry of Agriculture and Livestock Development had signed an agreement with China’s Agriculture Department to export citric fruits to the northern neighbour.</span></span></span></span></p> <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 would have already started exporting citric fruits like oranges and lemons to China had the officials of the two countries worked as per the agreement. However, the delay in the process has pushed back the export but it will take place within the current fiscal year, claimed the agriculture 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"">“We are working continuously to begin the process of export. I am certain that the export to China’s Tibet will take place soon even if it is just for the testing phase,” said Yogendra Kumar Karki, secretary at the agriculture ministry, adding that the process of export is heading to the right direction even though it has been delayed. Secretary Karki believes that the export will begin soon.</span></span></span></span></p> <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 as well as Nepal Agriculture Research Council and other concerned agencies are making efforts to export citric fruits to China.</span></span></span></span></p> <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 is also facilitating the process among orange farmers, businessmen and Chinese agents.</span></span></span></span></p> <p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:"Arial Unicode MS"">Earlier, Nepal had signed a similar agreement with China in 2012 for the export of citric fruits. However, Nepal could not export the fruits due to a clause which demanded that the products should be grown in fields that are free from pests and diseases. The latest agreement has only demanded fruits free from 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"">If the standard maintained by Nepal is approved by China, the country will be exporting 200 to 300 metric tons of fruits soon, informed Devraj Adhikari, chief of the Prime Minister Agriculture Modernization Project, Sindhuli. He added that if the export in the testing phase becomes successful, they will increase commercial production for export.</span></span></span></span></p> <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 per the provision in the agreement, Nepal should store the fruits at a certain temperature for 21 days and also needs to transport them in vehicles with cold storage facility. These technologies are the major challenges for Nepal.</span></span></span></span></p> <p> </p> ', 'published' => true, 'created' => '2020-12-31', 'modified' => '2020-12-31', 'keywords' => '', 'description' => '', 'sortorder' => '12623', 'image' => '20201231121240_20190220125347_aaa.jpg', 'article_date' => '2020-12-31 12:12:09', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 1 => array( 'Article' => array( 'id' => '12875', 'article_category_id' => '1', 'title' => 'Impact of Covid-19 not as Severe as Expected: NRB Governor', 'sub_title' => '', 'summary' => 'December 31: The impact of Covid-19 on Nepal’s economy has been less severe than expected, according to Nepal Rastra Bank’s Governor Maha Prasad Adhikari.', '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"">December 31: The impact of Covid-19 on Nepal’s economy has been less severe than expected, according to Nepal Rastra Bank’s Governor Maha Prasad Adhikari.</span></span></span></span></p> <p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:"Arial Unicode MS"">Speaking with the new executive committee members of the Nepalese Association of Financial Journalists (NAFIJ) during a virtual meeting on Wednesday (December 30), Governor Adhikari said that the financial activities of most of the sectors except a few are satisfactory at present and that the economy will witness financial in the coming days.</span></span></span></span></p> <p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:"Arial Unicode MS"">Governor Adhikari said that only 6 percent industries were fully operational in the month of Jestha (mid-May to mid-June) while the up to 57 percent industries are fully operational now. This will have a positive effect on the economy, added Adhikari.</span></span></span></span></p> <p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:"Arial Unicode MS"">Governor Adhikari further said that the flow of loan from the banking sector has increased this winter. He claimed that the high liquidity of banks will now come in good use with the increase in flow of loan. </span></span></span></span></p> <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 said that the central bank opened forms for refinancing only three months ago and the submissions were approved only in the month of Kartik (mid-October to mid-November). He added that the work procedure for economic revival was approved the following month and therefore it is still now clear how much contributions did a particular bank made. </span></span></span></span></p> <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 added that the central bank has so far approved refinancing of Rs 81 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"">“So far, we have approved a total of 81 billion refinancing to 41,000 debtors. Among them, more than 33,000 borrowers are entitled to refinancing facility for small loan of less than Rs 1.5 million,” said Governor Adhikari.</span></span></span></span></p> <p> </p> ', 'published' => true, 'created' => '2020-12-31', 'modified' => '2020-12-31', 'keywords' => '', 'description' => '', 'sortorder' => '12622', 'image' => '20201231114842_20201211011108_20200407080848_IMG_4955 - Copy.JPG', 'article_date' => '2020-12-31 11:48:04', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 2 => array( 'Article' => array( 'id' => '12874', 'article_category_id' => '1', 'title' => 'Government Signs $156 Million Deal with ADB for Modernization of Power Transmission ', 'sub_title' => '', 'summary' => 'December 31: The Government of Nepal has signed a $156 million (Rs 18.25 billion) deal with the Asian Development Bank (ADB) for concessional loan to modernize power transmission and distribution systems in the country.', 'content' => '<p><span style="font-size:12pt"><span style="font-family:Calibri"><span style="font-size:14.0pt"><span style="font-family:Arial">December 31: The Government of Nepal has signed a $156 million (Rs 18.25 billion) deal with the Asian Development Bank (ADB) for concessional loan to </span></span><span style="font-size:14.0pt"><span style="font-family:Arial">modernize power transmission and distribution systems in the country.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:Calibri"><span style="font-size:14.0pt"><span style="font-family:Arial">Joint Secretary at the Ministry of Finance Shree Krishna Nepal and </span></span><span style="font-size:14.0pt"><span style="font-family:Arial">Rudi Van Dael, officer-in-charge of ADB for Nepal, signed the agreement amid a function at the ministry on December 30. </span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:Calibri"><span style="font-size:14.0pt"><span style="font-family:Arial">Out of the total cost of Rs 22.81 billion required for the project, the ADB will fund Rs 18.25 billion while the Government of Nepal and the Nepal Electricity Authority will contribute Rs 4.56 billion, informed the ministry.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:Calibri"><span style="font-size:14.0pt"><span style="font-family:Arial">According to the ADB, the Electricity Grid Modernization Project will finance the automation of grid substations throughout the country, modernize distribution and transmission systems in various areas, complete the installation of smart meters in the Kathmandu Valley, and support sector reform and institutional strengthening of the Nepal Electricity Authority (NEA).</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:Calibri"><span style="font-size:14.0pt"><span style="font-family:Arial">ADB said in a statement that the project will, among others, automate 34 existing grid substations, install 220-kilovolt (kV) and 132-kV automated grid substations, construct a total of 113 kilometers (km) of new transmission lines, upgrade 144 km of existing transmission lines with efficient conductors, and expand the installation of smart meters for 350,000 electricity consumers in the Kathmandu Valley. An electricity distribution system command and control center in Kathmandu will also be constructed. </span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:Calibri"><span style="font-size:14.0pt"><span style="font-family:Arial"> “ADB has been actively involved in major policy and institutional reforms in the power sector, and this project is a continuation of our support to provide reliable and efficient electricity supply in the country,” the statement quoted ADB Principal Energy Specialist Jiwan Acharya as saying. “Moreover, this project will position Nepal to be better prepared in its post-pandemic economic rebuilding.”</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:Calibri"><span style="font-size:14.0pt"><span style="font-family:Arial">The concessional loan was approved by the ADB in late November, according to a statement published by the bank on November 27.</span></span></span></span></p> <p> </p> <p> </p> <p> </p> <p> </p> ', 'published' => true, 'created' => '2020-12-31', 'modified' => '2020-12-31', 'keywords' => '', 'description' => '', 'sortorder' => '12621', 'image' => '20201231111120_IMG_0867.jpg', 'article_date' => '2020-12-31 11:10:33', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => false, 'user_id' => '34' ) ), (int) 3 => array( 'Article' => array( 'id' => '12873', 'article_category_id' => '1', 'title' => 'Bankers ‘Not Happy’ with Central Bank’s Policies', 'sub_title' => '', 'summary' => 'December 30: Bankers have accused that Nepal Rastra Bank has not been able to introduce stable policies. ', '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"">December 30: Bankers have accused that Nepal Rastra Bank has not been able to introduce stable policies. </span></span></span></span></p> <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 a virtual meeting organized by Nepal Bankers Association during its annual general meeting on Tuesday (December 29), representatives of the Confederation of Banks and Financial Institutions of Nepal (CBFIN) said that the multiple amendments of the provisions of the monetary policy by the central bank was not appropriate. </span></span></span></span></p> <p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:"Arial Unicode MS"">Speaking at the virtual meeting, CBFIN Chairman Pawan Golyan said that the central bank’s decision to fix the service charge of 0.75 percent just because some banks were charging high service charge was not fair. This, according to Golyan, has caused problems for the BFIs for micro management.</span></span></span></span></p> <p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:"Arial Unicode MS"">Meanwhile, Governor of Nepal Rastra Bank Maha Prasad Adhikari said that the current policy of the central bank are aimed at the welfare of the sectors affected by Covid-19 while other provisions have not been changed in the current context.</span></span></span></span></p> <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 central bank’s policies are aimed at revitalizing the economy that has been badly affected by coronavirus. Our policies also compliment the state’s objective of achieving 7 percent economic growth,” said Governor Adhikari.</span></span></span></span></p> <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 argued that the latest measures taken by the central bank to remove some anomalies should not be considered as a shift in Nepal Rastra Bank’s policy.</span></span></span></span></p> <p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:"Arial Unicode MS"">Governor Adhikari informed that the demand for loan was low during the start of the current fiscal year but the flow of loan and deposit collection has improved now.</span></span></span></span></p> <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 central bank’s governor also stressed that the banking system should now go digital.</span></span></span></span></p> <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 Nepal Bankers Association Bhuvan Kumar Dahal said that it would take some more time for the country’s economy to return back to normalcy but there is a silver lining as most of the sectors have already started operating at the moment.</span></span></span></span></p> <p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:"Arial Unicode MS"">Meanwhile, Nepal Bankers Association felicitated former governor of NRB and ex-chairman of Nabil Bank Sagyendra Pyara Shrestha during the AGM.</span></span></span></span></p> <p> </p> ', 'published' => true, 'created' => '2020-12-30', 'modified' => '2020-12-30', 'keywords' => '', 'description' => '', 'sortorder' => '12620', 'image' => '20201230031428_1609284884.Clipboard11.jpg', 'article_date' => '2020-12-30 15:14:01', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 4 => array( 'Article' => array( 'id' => '12872', 'article_category_id' => '266', 'title' => 'Ncell Ties up with ‘Miss Universe Nepal 2020’', 'sub_title' => '', 'summary' => 'December 30: Ncell Axiata Limited, as a part of its #unpause campaign and GGO initiative, has tied-up with Brave Bold Beautiful Pvt Ltd for ‘Miss Universe Nepal 2020’. ', 'content' => '<p><span style="font-size:12pt"><span style="font-family:Cambria"><span style="font-size:14.0pt"><span style="font-family:Times">December 30: Ncell Axiata Limited, as a part of its #unpause campaign and GGO initiative, has tied-up with Brave Bold Beautiful Pvt Ltd for ‘Miss Universe Nepal 2020’. The collaboration aims at celebrating the spirit of women empowerment and supporting women who are moving ahead in life to chase their dreams, reads a statement posted by the company on its website. </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:Times">The statement added that Miss Universe Nepal is an all-inclusive leadership platform that believe in empowering Nepalese women to grow them into leaders. </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:Times">Ncell said it recently launched an attractive ‘GGO SIM’ pack specially designed for women with the theme ‘Aghi Badau’. </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:Times">“Ncell’s GGO philosophy is about encouraging progressive women to move forward to achieve their dreams. Miss Universe Nepal with its inclusivity approach for the first time in Nepal, shares a similar philosophy around its Brave, Bold, Beautiful approach,” the statement further said. </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:Times">On December 26, as a part of this partnership, Ncell also organised an interaction session with the top 18 finalists of Miss Nepal Universe with the mentors Dr Raveena Desraj (Deputy CEO, Mega Bank), Priyanka Karki (actor) and Pooja Rijal (Solo Traveller). <br /> </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:Times">One from the finalists will be crowned as title winner amid the finale on Wednesday evening. The winner will bag prizes worth Rs 2.5 million. Alongside attractive cash prize, the organisers of this event have taken up the challenge to mainstream inclusivity in such beauty pageants globally, Ncell added. <br /> </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:Times">Ncell expressed its delight to tie-up with Miss Universe Nepal to encourage, empower women and support them achieve their aspirations with positivity and confidence. </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:Times">The statement added that Miss Universe Nepal provides the contestants with world-renowned coaching and grooming in addition to advance networking, business and life skills, besides taking winning contestant to the global stage to represent Nepal. </span></span></span></span></p> <p> </p> ', 'published' => true, 'created' => '2020-12-30', 'modified' => '2020-12-30', 'keywords' => '', 'description' => '', 'sortorder' => '12619', 'image' => '20201230025209_Miss-Universe-Nepal-2020.jpg', 'article_date' => '2020-12-30 14:51:32', 'homepage' => false, 'breaking_news' => false, 'main_news' => false, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 5 => array( 'Article' => array( 'id' => '12871', 'article_category_id' => '1', 'title' => 'NITDB Expands Infrastructure at Birgunj ICP', 'sub_title' => '', 'summary' => 'December 30: The physical infrastructure of the Nepal-India Integrated Check Post (ICP) in Birgunj has been expanded following an increase in volume of import and export at the transit point.', 'content' => '<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt">December 30: The physical infrastructure of the Nepal-India Integrated Check Post (ICP) in Birgunj has been expanded following an increase in volume of import and export at the transit point.</span></span></span></p> <p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt">The Nepal Intermodal Transport Development Committee (NITDB) has built a new parking lot and a warehouse at the ICP.</span></span></span></p> <p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt">NITDB Birgunj Chief Kamal Gyawali informed that they expanded the infrastructure because the import and export from the old Inarwa checkpoint of Birgunj was diverted to the ICP. </span></span></span></p> <p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt">With the increase in import and export from the ICP, the warehouse, parking lot, and other structures were getting congested.</span></span></span></p> <p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt">According to Gyawali, a new parking lot for 300 to 350 vehicles has come into operation at the ICP. "We had to build a new parking lot as the previous one was not sufficient. The new parking lot of 21,000 square meters has been added after the size of import and export from the ICP started increasing," he informed New Business Age.</span></span></span></p> <p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt">Earlier, there was a parking lot for 250 to 300 vehicles. Vehicles not parked in the parking lot had to be parked on the road. Secretary-General of the Birgunj Chamber of Commerce and Industry Madhav Rajpal said that the new structure has become operational. </span></span></span></p> <p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt">"The ICP is becoming overcrowded as almost all the transactions at the Birgunj customs are diverted to the ICP. As foreign trade has been increasing every year, there should be strong management of such infrastructure at the border," he informed.</span></span></span></p> <p> </p> ', 'published' => true, 'created' => '2020-12-30', 'modified' => '2020-12-30', 'keywords' => '', 'description' => '', 'sortorder' => '12618', 'image' => '20201230024130_1609284634.Clipboard08.jpg', 'article_date' => '2020-12-30 14:40:36', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 6 => array( 'Article' => array( 'id' => '12870', 'article_category_id' => '1', 'title' => 'India yet to pay Three Years’ VAT under Koshi Agreement', 'sub_title' => '', 'summary' => 'December 30: The Koshi Agreement signed between Nepal and India 64 years ago states that India has to pay value added tax while working in Nepali territory. ', '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"">December 30: The Koshi Agreement signed between Nepal and India 64 years ago states that India has to pay value added tax while working in Nepali territory. Nepali contractors have paid Rs 350 million VAT to India for the construction of Koshi barrage to control flood but the Indian side has not submitted the amount to the Government 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"">Although the Biratnagar-based contact office of Nepal has time and again requested the Koshi Project Office in Birpur to deposit the collected amount, the Government of Nepal is yet to receive it.</span></span></span></span></p> <p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:"Arial Unicode MS"">Official at the Biratnagar-based contact office Santosh Kumar Limbu says that the Indian side has not paid the due amount since Fiscal Year 2075/76.</span></span></span></span></p> <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 Koshi Agreement signed on Baishakh 12, 2011 BS clearly states that the Indian side will have to pay taxes for the construction works done on Nepali’s soil. It also includes land tax. Although India has been paying land tax, Limbu says India is yet to submit the NCT (Nepal Contractor Tax) under VAT which it has already collected from the contractors.</span></span></span></span></p> <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 Koshi Agreement has granted India a total of 13,337 bighas of land in Saptari, Udayapur and Sunsari in lease for 199 years but those lands will remain under the jurisdiction of Nepal’s laws.</span></span></span></span></p> <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 Limbu, the Indian side is involved in construction worth millions of rupees every year in the Koshi region. India undertakes the construction works by sub-contracting them to the construction companies. While making payments to the contractors, India used to deduct 13 percent tax and provide it to the Government of Nepal. But this has stopped since the last three years, informed Limbu.</span></span></span></span></p> <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 Indian government itself deducts the VAT from the contractors and hands over to Nepal. I have been requesting the Indian side to release the amount since the last three years but they have been delaying the payment under different pretexts,” said Limbu.</span></span></span></span></p> <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 informed that the Indian side has pledged to make the payment through online system but has been unable to do so due to technical problems.</span></span></span></span></p> <p> </p> ', 'published' => true, 'created' => '2020-12-30', 'modified' => '2020-12-30', 'keywords' => '', 'description' => '', 'sortorder' => '12617', 'image' => '20201230012349_1609284714.12.jpg', 'article_date' => '2020-12-30 13:23:17', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 7 => array( 'Article' => array( 'id' => '12868', 'article_category_id' => '1', 'title' => 'India to Lift Ban on Export of Onion from January 1', 'sub_title' => '', 'summary' => 'December 30: India has decided to lift a ban imposed on export of onion. ', '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"">December 30: India has decided to lift a ban imposed on export of onion. India had banned the export of onion on September 14 due to shortage in its domestic market. The move was aimed at controlling price hike of onion.</span></span></span></span></p> <p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:"Arial Unicode MS"">Issuing a statement on Monday (December 28), the Ministry of Commerce and Industry of India informed that the ban on export of onion will be lifted from Friday, January 1.</span></span></span></span></p> <p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:"Arial Unicode MS"">Director General of the Department of Customs Suman Dahal says that India might have lifted the ban due to increase in production of onion. Dahal says that the price of onion in Nepal will decline once the supply from India resumes.</span></span></span></span></p> <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 price of onion had skyrocketed in the domestic market of Nepal a day after India banned the export of onion.</span></span></span></span></p> <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 price list of Kalimati Fruits and Vegetables Market, onion was being sold at Rs 60 per kilogram in the wholesale market on September 14. The price increased by 99 percent in two days after the ban and was sold for Rs 119 per kg. Onion was sold for as much as Rs 160 per kg in the retail market.</span></span></span></span></p> <p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:"Arial Unicode MS"">The price was lowered to some extent after the Ministry of Industry, Commerce and Supplies took action against some traders for hoarding and selling onion in the black market.</span></span></span></span></p> <p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:"Arial Unicode MS"">Recently, the price of local onion has dropped to Rs 60 per kg in the wholesale market of Kalimati while onions imported from China are being sold at Rs 65 per kg.</span></span></span></span></p> ', 'published' => true, 'created' => '2020-12-30', 'modified' => '2020-12-30', 'keywords' => '', 'description' => '', 'sortorder' => '12616', 'image' => '20201230115520_20200916052134_1600205898.Clipboard06.jpg', 'article_date' => '2020-12-30 11:54:37', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 8 => array( 'Article' => array( 'id' => '12869', 'article_category_id' => '1', 'title' => 'Website of Kalimati Fruits and Vegetables Development Board Hacked', 'sub_title' => '', 'summary' => 'December 30: The website of Kalimati Fruits and Vegetables Development Board has been hacked since one week.', '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"">December 30: The website of Kalimati Fruits and Vegetables Development Board has been hacked since one week.</span></span></span></span></p> <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 website users and consumers have not been able to check the price list since the website started experiencing problems.</span></span></span></span></p> <p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:"Arial Unicode MS"">This has posed serious threat for businessmen to charge price arbitrarily.</span></span></span></span></p> <p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:"Arial Unicode MS"">Executive Director of the board Binod Kumar Bhattarai admitted that the website has been hacked due to which the consumers are facing trouble. He added that the board is working to resolve the problem. </span></span></span></span></p> <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 Bhattarai, the board has been updating the daily price list of vegetables and fruits through its Facebook page.</span></span></span></span></p> <p> </p> ', 'published' => true, 'created' => '2020-12-30', 'modified' => '2020-12-30', 'keywords' => '', 'description' => '', 'sortorder' => '12615', 'image' => '20201230123926_86278455_1296226060563740_4388980625416126464_n.jpg', 'article_date' => '2020-12-30 12:38:13', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => false, 'user_id' => '34' ) ), (int) 9 => array( 'Article' => array( 'id' => '12866', 'article_category_id' => '1', 'title' => 'Use of Smartphones Increasing', 'sub_title' => '', 'summary' => 'December 29: Coronavirus has adversely affected the entire economy but the smartphone market is flourishing amid current crisis.', '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"">December 29: Coronavirus has adversely affected the entire economy but the smartphone market is flourishing amid current crisis.</span></span></span></span></p> <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 businesses affected by coronavirus are yet to return back to normalcy. However, the demand for smartphones and its business is growing despite the fragile 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"">According to the Department of Customs, mobile phones worth Rs 17.64 billion were imported in the country during the first five months of the current fiscal year, which is Rs 7 billion more than the import made during the corresponding period of last fiscal year.</span></span></span></span></p> <p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:"Arial Unicode MS"">During the first five months of last fiscal year, mobile phones worth Rs 10.67 billion were imported in 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"">The smartphone market had been initially affected after the government imposed lockdown on March 24. But the demand for smartphones started increasing after the lockdown was eased in late July.</span></span></span></span></p> <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 Deepak Malhotra, chairman of Nepal Mobile Phones Importers’ Association, people who used to own normal phones started using smartphones to kill time during lockdown. The demand for smartphones has also increased for virtual meetings. He added that the demand for smartphones has also increased because smuggling of such phones has declined due to border obstruction.</span></span></span></span></p> <p> </p> ', 'published' => true, 'created' => '2020-12-29', 'modified' => '2020-12-29', 'keywords' => '', 'description' => '', 'sortorder' => '12614', 'image' => '20201229031941_1609199035.Clipboard14.jpg', 'article_date' => '2020-12-29 15:19:15', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 10 => array( 'Article' => array( 'id' => '12864', 'article_category_id' => '1', 'title' => 'Paddy Production Increases this Year', 'sub_title' => '', 'summary' => 'December 29: The production of paddy has increased in the current fiscal by almost 71,000 metric tons compared to the last 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"">December 29: The production of paddy has increased in the current fiscal by almost 71,000 metric tons compared to the last fiscal year. The Ministry of Agriculture and Livestock Development issued a statement on Monday (December 28) informing about the increase in production of paddy 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"">According to the information provided by the ministry, the seasonal and annual production of paddy increased by 70,831 metric tons during the review period.</span></span></span></span></p> <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 total amount of paddy produced this year was 5.62 million metric toms. Last year, the production of paddy was 5.55 million metric tons, according to 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"">The ministry said that the availability of workers due to lockdown, active monsoon and availability of seeds contributed to the increase in production of paddy in 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"">Paddy productivity has increased to 3.82 tons per hectare, which is all-time high in the country. There has been an increase in paddy productivity by 0.28 percent this year compared to the last fiscal year, according to the statement.</span></span></span></span></p> <p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:"Arial Unicode MS"">An analysis of five years of records show that the production of paddy has increased by 7.48 percent in the current fiscal year compared to FY 2017/18.</span></span></span></span></p> <p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:"Arial Unicode MS"">Although the ministry had expected production of paddy to increase much more, lack of chemical fertilizer during the plantation season caused a setback to achieve the goal, informed Dr Shree Ram Ghimire, spokesperson of the ministry.</span></span></span></span></p> <p> </p> ', 'published' => true, 'created' => '2020-12-29', 'modified' => '2020-12-29', 'keywords' => '', 'description' => '', 'sortorder' => '12613', 'image' => '20201229023041_1609198819.Clipboard13.jpg', 'article_date' => '2020-12-29 14:30:05', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 11 => array( 'Article' => array( 'id' => '12867', 'article_category_id' => '1', 'title' => 'Entrepreneurs Warn of Protests if the Government Delays Relief Package', 'sub_title' => '', 'summary' => 'December 29: Entrepreneurs have jointly demanded relief package with the government for the revival of economy that has been badly affected by the coronavirus pandemic.', '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"">December 29: Entrepreneurs have jointly demanded relief package with the government for the revival of economy that has been badly affected by the coronavirus pandemic. They have warned of stern protests if the government does not fulfill their demand.</span></span></span></span></p> <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 of 32 different sectors held extensive discussions on Monday (December 28) and then sent letters to the prime minister and various other government bodies demanding relief package.</span></span></span></span></p> <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 are also preparing to form Covid-19 victims’ struggle committee to press for their demand.</span></span></span></span></p> <p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:"Arial Unicode MS"">Those attending the discussion on Monday were from wide range of sectors including transportation, tourism industry, hotel, medicine, handicraft, real estate among others. They have warned of joint protest if their demand is not addressed. Participants of the meeting concluded that the government was not interested in reviving the economy that has been paralyzed by the 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"">They said that full lockdown and partial restrictions for ten months has resulted in job loss for many people. Even in such dire situation, the government has not provided any relief package to uplift the private sector, according to the entrepreneurs.</span></span></span></span></p> <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 N-PABSON Karna Bahadur Shahi said that they decided to initiate protest programmes after the government authorities including the prime minister’s office, Nepal Rastra Bank and the concerned ministries turned a deaf ear to the repeated requests made by the entrepreneurs as well as their umbrella bodies.</span></span></span></span></p> <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 have demanded immediate release of relief package and waiver of taxes and fines of the businesses affected by coronavirus. They have also urged the government to pay for the bank’s interest and rent and 50 percent salary of employees during the affected period.</span></span></span></span></p> <p> </p> ', 'published' => true, 'created' => '2020-12-29', 'modified' => '2020-12-29', 'keywords' => '', 'description' => '', 'sortorder' => '12612', 'image' => '20201229034113_icerik_2980.jpg', 'article_date' => '2020-12-29 15:40:32', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 12 => array( 'Article' => array( 'id' => '12865', 'article_category_id' => '1', 'title' => 'NOC makes Rs 13 Billion Profit despite Lockdown ', 'sub_title' => '', 'summary' => 'December 29: The profit of Nepal Oil Corporation has increased despite a decline in fuel consumption due to the effect of coronavirus, the state-run national news agency reported.', 'content' => '<p><span style="font-size:11pt"><span style="font-family:Calibri"><span style="font-size:12.0pt"><span style="font-family:"Times New Roman"">December 29: The profit of Nepal Oil Corporation has increased despite a decline in fuel consumption due to the effect of coronavirus, the state-run national news agency reported.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri"><span style="font-size:12.0pt"><span style="font-family:"Times New Roman"">According to the final audit report of the last fiscal year 2076/77, the state-owned corporation earned Rs 12.87 billion profit in a year. </span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri"><span style="font-size:12.0pt"><span style="font-family:"Times New Roman"">According to the report, the corporation's profit has increased as id did not have to incur transportation after the Motihari-Amalekhgunj Petroleum Pipeline came into operation. </span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri"><span style="font-size:12.0pt"><span style="font-family:"Times New Roman"">Surendra Poudel, executive director of NOC, said that the corporation's profit has increased in the last fiscal year 2076/77 due to the earning from interest, savings in transportation expenses and reduction of subsidy on LPG. According to him, the corporation has earned an average profit of five percent. </span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri"><span style="font-size:12.0pt"><span style="font-family:"Times New Roman"">NOC earned profit of Rs 19.36 billion in FY 2072/73, Rs 9.45 billion in FY 2073/74 and Rs 3.58 billion in FY 2074/75. Likewise, there was profit of Rs 8.75 billion and Rs 12.87 billion profit in FY 2075/76 and FY 2076/77. </span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri"><span style="font-size:12.0pt"><span style="font-family:"Times New Roman"">The profit has increased after the reduction in the price of fuel in the international market and automatic pricing system adopted by the corporation. The report stated that saving in fuel transportation cost and interest from previous year’s profit helped increase the profit this year. </span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri"><span style="font-size:12.0pt"><span style="font-family:"Times New Roman"">Furthermore, according to the report, NOC saved Rs 1.47 billion in 10 months period for importing fuel through the pipeline. Likewise, the corporation informed that it earned Rs 1.77 billion from the interest of last year’s profit. </span></span></span></span></p> <p> </p> ', 'published' => true, 'created' => '2020-12-29', 'modified' => '2020-12-29', 'keywords' => '', 'description' => '', 'sortorder' => '12611', 'image' => '20201229030721_1609141710.nigam.jpg', 'article_date' => '2020-12-29 15:06:43', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 13 => array( 'Article' => array( 'id' => '12863', 'article_category_id' => '1', 'title' => 'Government Preparing to Open Foreign Investment in Agriculture Sector', 'sub_title' => '', 'summary' => 'December 29: The government is preparing to open the agriculture sector of Nepal for foreign investment after a lengthy discussion regarding this issue.', '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"">December 29: The government is preparing to open the agriculture sector of Nepal for foreign investment after a lengthy discussion regarding this issue.</span></span></span></span></p> <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 Industry, Commerce and Supplies is making necessary preparations to allow foreign investment in nine different sectors including the 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"">So far, the government has denied permission for foreign investment in agriculture sector although it has given high priority for foreign investment in other sectors.</span></span></span></span></p> <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 Foreign Investment and Technology Transfer Act 2075 categorizes several areas under the agriculture sector including production of food, animal husbandry, fishery, bee rearing, fruits and vegetables farming, oil production and diary farming as ineligible for foreign investment.</span></span></span></span></p> <p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:"Arial Unicode MS"">Realizing this provision as the main obstacle for the commercialization of the agriculture sector and a hindrance to creating new employment opportunities, the ministry has coordinated with the concerned authorities to prepare a report for opening foreign investment in the 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"">A source at the ministry informed New Business Age that the government will issue a new policy related to foreign investment in agriculture sector by publishing it in the Nepal Gazette within a few days. The official however declined to reveal the ceiling of foreign investment.</span></span></span></span></p> <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 team headed by the Director General of the Department of Industry, which also included representatives form the Investment Board, Ministry of Agriculture and Livestock Development, Ministry of Labour and Employment had conducted a study to ascertain the viability of foreign investment in agriculture sector of Nepal.</span></span></span></span></p> ', 'published' => true, 'created' => '2020-12-29', 'modified' => '2021-01-06', 'keywords' => '', 'description' => '', 'sortorder' => '12610', 'image' => '20201229124726_1609198507.Clipboard08.jpg', 'article_date' => '2020-12-29 12:46:56', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => false, 'user_id' => '34' ) ), (int) 14 => array( 'Article' => array( 'id' => '12862', 'article_category_id' => '1', 'title' => 'Sugarcane Farmers Withdraw Protests after Signing a Deal with Government', 'sub_title' => '', 'summary' => 'December 29: Sugarcane farmers have postponed their two-weeks of protests in the capital after signing an agreement with the government for the payment of their dues.', '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"">December 29: Sugarcane farmers have postponed their two-weeks of protests in the capital after signing an agreement with the government for the payment of their dues.</span></span></span></span></p> <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 agitating farmers signed a four-point agreement with the government on Monday (December 28). </span></span></span></span></p> <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 per the agreement reached between representatives of the Ministry of Industry, Commerce and Supplies and the farmers, the sugar mill owners have been given 21 days to clear all the dues.</span></span></span></span></p> <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 two sides also agreed to form a study committee to prepare a report related to the farmers and sugar industries within 120 days.</span></span></span></span></p> <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 had brokered a deal between the farmers and the sugar mill owners last year also. However, the farmers began fresh protest this year after the agreement was not implemented.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:Cambria"><span style="font-size:14.0pt"><span style="font-family:"Arial Unicode MS"">Deputy spokesperson of the ministry Urmila KC confirmed that the government had reached an understanding with the farmers. She added that the government was making necessary preparations to implement the deal so that a similar situation would not arise in the future again.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:Cambria"><span style="font-size:14.0pt"><span style="font-family:"Arial Unicode MS"">The ministry officials further said that the defaulting sugar mills will face action if the fail to clear the dues within the given time.</span></span></span></span></p> <p> </p> <p> </p> <p> </p> ', 'published' => true, 'created' => '2020-12-29', 'modified' => '2020-12-29', 'keywords' => '', 'description' => '', 'sortorder' => '12609', 'image' => '20201229113333_1609164432.jpg', 'article_date' => '2020-12-29 11:32:45', '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
