Sugarcane Farmers Warn of Hunger Strike

Dec 17, 2020 0 2 minutes 4 seconds to read

December 17: Sugarcane farmers, who have been protesting in Kathmandu since four days to recover their due payment from sugar mills, have now warned to go on a hunger strike if they do not receive their…

Deposit Collection, Flow of Loans Improving: NBA

Dec 16, 2020 0 2 minutes 43 seconds to read

December 16: Deposit collection of commercial banks has improved in the past one month. The flow of loan has also increased, according to Nepal Bankers Association…

Detailed Study Report of 4 Major Projects Submitted to IBN

Dec 17, 2020 0 2 minutes 5 seconds to read

December 17: Developers of four major infrastructure projects facilitated by the Investment Board of Nepal (IBN) have submitted a detailed study report of the projects to the…

Nokia Launches C1 Plus with Face Unlock

Dec 16, 2020 0 1 minutes 35 seconds to read

December 16: Building on the success of the previous C-series phones, HMD Global, a marketing company, announced a new addition to the Nokia series phones.…

eSewa and Viber Ink Deal

Dec 16, 2020 0 1 minutes 56 seconds to read

December 16: eSewa, a digital payment service provider of Nepal, and popular messaging app, Rakuten Viber have joined hands to facilitate their customers, who can now top-up talk time and send money to contact numbers through…

Large Sum of Project Money is Taken by Foreign Consultants

Dec 16, 2020 0 2 minutes 46 seconds to read

December 16: The Department of Roads has been hiring consultants for detailed study despite having 27 technical experts at its disposal working in the department’s Project Directorate…

Arresting Defaulting Sugar Mill Owners is not the Solution to the Problem: Sugarcane Farmers

Dec 16, 2020 0 2 minutes 59 seconds to read

December 16: The agitating sugarcane farmers who have arrived in the capital seeking government support for the release of their due payment from sugar factories have said arresting the factory owners will not resolve their payment…

New Ordinance Further Divides the Ruling Party

Dec 16, 2020 0 1 minutes 56 seconds to read

December 16: The internal dispute within the ruling Nepal Communist Party has taken a new twist.…

Covid-19 Insurance Claim Amount Exceeds Premium Collection

Dec 15, 2020 0 1 minutes 49 seconds to read

December 15: The insurance claim amount for Covid-19 Insurance Policy has exceeded the insurance…

Concept of Mixing 10 Percent Ethanol in Petrol Fails to Materialize

Dec 15, 2020 0 3 minutes 9 seconds to read

December 15: The government’s plan to distribute petrol by mixing 10 percent ethanol has failed to…

Export to China Halted since a Year

Dec 15, 2020 0 2 minutes 28 seconds to read

December 15: Export of Nepali goods to China have been halted for the past one year due to the closure of border by…

Nepali Delegation to Visit B’desh to Finalize Fertilizer Import Deal

Dec 15, 2020 0 3 minutes 17 seconds to read

December 15: A team from the Agriculture Inputs Company Limited is preparing to visit Bangladesh to finalize a deal to procure 50,000 metric tons of urea under G2G deal with the neighbouring…

Price of Gold Drops Marginally

Dec 15, 2020 0 55 seconds to read

December 15: The price of gold has declined marginally on Tuesday (December 15).…

Covid-19 Pandemic Delays Construction of Kathmandu-Tarai Fast Track

Dec 14, 2020 0 3 minutes 1 seconds to read

December 14: The timeframe to start construction of tunnels and complex bridges along the Kathmandu-Tarai Fast Track has been further extended due to procedural…

Nepal Makes Marginal Progress in HDI

Dec 14, 2020 0 3 minutes 28 seconds to read

December 14: Nepal has made minimal progress in Human Development Index, according to the Human Development Report 2020 prepared by the United Nations Development…

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No Laughing Matter

The Sweet Rewards of Power

By Madan Lamsal

. . .
read more »

NEPSE

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			'title' => 'Sugarcane Farmers Warn of Hunger Strike ',
			'sub_title' => '',
			'summary' => 'December 17: Sugarcane farmers, who have been protesting in Kathmandu since four days to recover their due payment from sugar mills, have now warned to go on a hunger strike if they do not receive their payment.',
			'content' => '<p><span style="font-size:11pt"><span style="font-family:Calibri"><span style="font-size:14.0pt"><span style="font-family:&quot;Times New Roman&quot;">December 17: Sugarcane farmers, who have been protesting in Kathmandu since four days to recover their due payment from sugar mills, have now warned to go on a hunger strike if they do not receive their payment. According to Hari Shyam Raya, secretary of the Sugarcane Farmers&#39; Struggle Committee, Sarlahi, the government should have fulfilled its five-point commitment made with the farmers last year. However, he said that the government was not serious about it and was taking a different path. </span></span></span></span></p>

<p><span style="font-size:11pt"><span style="font-family:Calibri"><span style="font-size:14.0pt"><span style="font-family:&quot;Times New Roman&quot;">He further says that they are not hopeful of getting money by arresting the operators of the sugar mills. &ldquo;If we don&rsquo;t get the money within a week, we will go on a relay hunger strike,&rdquo; he said. Last year on January 3, the sugar mill owners had made a five-point agreement with the farmers in the presence of the government and agreed to pay the entire amount by January 21, 2020. This time, the farmers are thinking of returning only after receiving their money. Farmers from other districts are increasingly coming to Kathmandu to support the protest. </span></span></span></span></p>

<p><span style="font-size:11pt"><span style="font-family:Calibri"><span style="font-size:14.0pt"><span style="font-family:&quot;Times New Roman&quot;">When the sugarcane farmers of Sarlahi started protesting at Maitighar on Sunday, only about 100 people had participated. Sugarcane farmers from Nawalparasi, Bara, Parsa, Rautahat and Saptari have also arrived in Kathmandu on Wednesday. As of Wednesday, the number of protesting farmers has reached 500. The committee stated that they will gather 1,000 farmers within a week. </span></span></span></span></p>

<p><span style="font-size:11pt"><span style="font-family:Calibri"><span style="font-size:14.0pt"><span style="font-family:&quot;Times New Roman&quot;">Even though the government has invited the sugarcane farmers for talks, they refused to sit for talks until they receive their money. Ram Raya, president of the committee said that as their main demand is to receive their due money, they will not return until they get the payment. Furthermore, he urged the government not to consider their protest as weak, as the locals of Kathmandu are also supporting their demonstration. </span></span></span></span></p>

<p>&nbsp;</p>
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			'title' => 'Deposit Collection, Flow of Loans Improving: NBA',
			'sub_title' => '',
			'summary' => 'December 16: Deposit collection of commercial banks has improved in the past one month. The flow of loan has also increased, according to Nepal Bankers Association (NBA).',
			'content' => '<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;">December 16: Deposit collection of commercial banks has improved in the past one month. The flow of loan has also increased, according to Nepal Bankers Association (NBA).</span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;">The association informed that the deposit collection of 27 commercial banks increased by Rs 46 billion in the month of Mangsir (mid-November to mid-December). The total deposits of the commercial bank currently stands at Rs 3,694 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:&quot;Arial Unicode MS&quot;">Deposit collection in the month of Kartik (mid-October to mid-November) was in deficit by Rs 6 billion. Banks have recently lowered the interest on deposits after lowering the rate of interest on loans. Experts believe that deposit collection might have become negative due to the lowering of interest rate. </span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;">However, chairman of Nepal Bankers Association Bhuvan Kumar Dahal says it is not because of the low interest rate that the deposit collection slumped. He says the negative deposit collection is a result of decline in remittance and increase in imports.</span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;">&ldquo;The rate of inflation is still hovering around 4 percent at present. The rate of interest that the banks provide to savings accounts should be similar to the rate of inflation. Most of the banks have fixed the interest rate for general savings account at more than 4 percent. Some even provide 5 percent interest,&rdquo; said Dahal.</span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;">The association informed that both deposit collection and flow of loans have improved in 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:&quot;Arial Unicode MS&quot;">The flow of loan in the month of Mangsir has reached Rs 49 billion while the total loans given out by the banks stands at Rs 3101 billion, informed Dahal. This is an increase compared to the previous month.</span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;">The flow of loan in the month of Kartik (mid-October to mid-November) was Rs 17 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:&quot;Arial Unicode MS&quot;">Chairman Dahal says that financial activities have increased after Tihar festival. He says that the banks&rsquo; customers are increasingly opening Letter of Credit (LC) while the transactions are also increasing.</span></span></span></span></p>

<p>&nbsp;</p>
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			'id' => '12817',
			'article_category_id' => '1',
			'title' => 'Detailed Study Report of 4 Major Projects Submitted to IBN',
			'sub_title' => '',
			'summary' => 'December 17: Developers of four major infrastructure projects facilitated by the Investment Board of Nepal (IBN) have submitted a detailed study report of the projects to the board.',
			'content' => '<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:Helvetica">December 17: Developers of four major infrastructure projects facilitated by the Investment Board of Nepal (IBN) have submitted a detailed study report of the projects to the board.</span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:Helvetica">Private Freight Terminal and Bulk Handling Facilities to be constructed in Birgunj and Bhairahawa are among the four projects. Fash Freight Logistics and International Cargo Terminal and Infrastructure Private Limited is the developer of the projects and has already submitted the detailed feasibility study report on Tuesday, December 15.</span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:Helvetica">For the project, an agreement was reached between the Investment Board and the developer company on December 1, 2019.&nbsp;</span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:Helvetica">Similarly, CG Logistics Pvt Ltd and Sarraf Group, the developer of the multi-model logistics park project to be constructed in Biratnagar, have also submitted the their reports. An agreement in this regard was reached between the board and the developing company on 17 June, 2019.</span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:Helvetica">Likewise, Damak Clean Industrial Park has submitted its report on Monday, December 14, on behalf of the developer for the construction of China-Nepal Friendship Industrial Park project.&nbsp;</span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:Helvetica">The 39th meeting of the Investment Board held on 2 July 2019 had approved an investment of USD 58.61 million for the construction of the project. The project will be constructed in Damak, Jhapa with the joint investment of Lhasa Economic and Technology Development Zone, Ching Ping Joint Creation Construction Project Development Company and Damak Clean Industrial Park.</span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:Helvetica">Also, the developer company Muktinath Darshan Pvt Ltd has submitted its report on November 29, 2020, for the construction of the Birethanti-Muktinath cable car. The proposed 80.16 km long cable car will reach Muktinath via Birethanti, Ghorepani, Tatopani, Lete, Kowang, Tukuche, Marfa, and Jomsom.</span></span></span></span></p>

<p>&nbsp;</p>
',
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		'Article' => array(
			'id' => '12814',
			'article_category_id' => '237',
			'title' => 'Nokia Launches C1 Plus with Face Unlock',
			'sub_title' => '',
			'summary' => 'December 16: Building on the success of the previous C-series phones, HMD Global, a marketing company, announced a new addition to the Nokia series phones. ',
			'content' => '<p><span style="font-size:11pt"><span style="font-family:Calibri"><span style="font-size:14.0pt">December 16:</span><span style="font-size:14.0pt"> Building on the success of the previous C-series phones, HMD Global, a marketing company, announced a new addition to the Nokia series phones. According to the company, the new Nokia C1 Plus is the lowest cost 3G+ 4G smartphone available in the market. </span></span></span></p>

<p><span style="font-size:11pt"><span style="font-family:Calibri"><span style="font-size:14.0pt">The C-series mission is to bring affordable smartphone experiences to everyone, says a statement issued by the company. The Nokia C1 Plus, brings 4G connectivity to the introductory level of the C-series, offering wider experiences to even more users around the world. </span></span></span></p>

<p><span style="font-size:11pt"><span style="font-family:Calibri"><span style="font-size:14.0pt">&ldquo;With the Nokia </span><span style="font-size:14.0pt">C1 Plus</span><span style="font-size:14.0pt">, fans can enjoy sharp content throughout &ndash; energising selfies and videos, apps and texts that pop, and immersive entertainment delivered to you crisp and clean,&rdquo; said the statement. </span></span></span></p>

<p><span style="font-size:11pt"><span style="font-family:Calibri"><span style="font-size:14.0pt">The smartphone comes with a 2,500 mAh battery that gives power for a whole day. </span><span style="font-size:14.0pt">For added security and convenience, face unlock will give the access to everything at a glance</span><span style="font-size:14.0pt">. According to the company, the new series also has improved storage.</span></span></span></p>

<p><span style="font-size:12pt"><span style="font-family:&quot;Times New Roman&quot;"><span style="font-size:14.0pt"><span style="font-family:Calibri">The&nbsp;Nokia C1 Plus launched on December 15 in Nepal in 1GB+16BG storage variants are priced at Rs 8,399 and are available in blue and red colours.</span></span>&nbsp;</span></span></p>

<p>&nbsp;</p>

<p>&nbsp;</p>
',
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	(int) 4 => array(
		'Article' => array(
			'id' => '12813',
			'article_category_id' => '266',
			'title' => 'eSewa and Viber Ink Deal ',
			'sub_title' => 'Customers can now top-up talk time and send money through Viber',
			'summary' => 'December 16: eSewa, a digital payment service provider of Nepal, and popular messaging app, Rakuten Viber have joined hands to facilitate their customers, who can now top-up talk time and send money to contact numbers through Viber.',
			'content' => '<p><span style="font-size:11pt"><span style="font-family:Calibri">December 16: eSewa, a digital payment service provider of Nepal, and popular messaging app, Rakuten Viber have joined hands to facilitate their customers, who can now top-up talk time and send money to contact numbers through Viber.</span></span></p>

<p><span style="font-size:11pt"><span style="font-family:Calibri">With this partnership, Viber users in Nepal can seamlessly link their eSewa account to top up talk time as well as send money to other users from within the Viber App. </span></span></p>

<p><span style="font-size:11pt"><span style="font-family:Calibri">According to eSwea, this partnership is the first of its kind in the Asia Pacific Region. eSewa claimed that it has become only the third company to partner with Viber for payment services after Apple and Google. This feature is available to all the Viber users in Nepal, says a statement issued by eSewa.</span></span></p>

<p><span style="font-size:11pt"><span style="font-family:Calibri">As an introductory offer, users can enjoy a&nbsp; 10 percent or maximum of Rs 100 cashback on recharge and five percent or maximum Rs 50 on fund transfer, added the statement. </span></span></p>

<p><span style="font-size:11pt"><span style="font-family:Calibri">&ldquo;Besides that, on weekly basis, customers will get a chance to win attractive gifts/vouchers and as a bumper price, one lucky customer will win a laptop.&rdquo;</span></span></p>

<p><span style="font-size:11pt"><span style="font-family:Calibri">Roshan Lamichhane, Chief Operating Officer of eSewa says this is a breakthrough in digital payments in Nepal and it will bring a new dimension to digital payments in the country. &ldquo;We will continue to innovate and make financial transactions simple, secure, and affordable,&rdquo; he said</span></span></p>

<p><span style="font-size:11pt"><span style="font-family:Calibri">Similarly, Anna Znamenskaya, Chief Growth Officer, Rakuten Viber said, &ldquo;We have always envisioned Viber to be a lifetime app that is of maximum benefit to its users. One of the ways to make this happen is to ensure that our users have access to a secure alternative platform to make their financial transactions such as top-ups and fund transfer as convenient as possible.&rdquo;</span></span></p>

<p>&nbsp;</p>

<p>&nbsp;</p>

<p>&nbsp;</p>

<p>&nbsp;</p>
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		'Article' => array(
			'id' => '12811',
			'article_category_id' => '1',
			'title' => 'Large Sum of Project Money is Taken by Foreign Consultants',
			'sub_title' => '',
			'summary' => 'December 16: The Department of Roads has been hiring consultants for detailed study despite having 27 technical experts at its disposal working in the department’s Project Directorate Office.',
			'content' => '<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;">December 16: The Department of Roads has been hiring consultants for detailed study despite having 27 technical experts at its disposal working in the department&rsquo;s Project Directorate Office.</span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;">The department has to spend excessive amount of budget for acquiring the services of consultants.</span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;">According to the 57<sup>th</sup> report of the Office of the Financial&nbsp; Comptroller General, the total budget of four projects under the department which are being supported by the Asian Development Bank&nbsp; is US$ 273.1 million. Out of the total budget, the cost of hiring consultants alone is US$ 22.6 million which is 8.4 percent in average of the total amount.</span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;">The report further states that the department has so far appointed seven consultants and prepared project designs and cost estimates of the four projects. Besides that, the department has also been monitoring the work progress and quality control in addition to validating the bills presented by the construction companies.</span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;">The department admits weaknesses and flaws in its feasibility studies, detailed survey and designs at the division offices under the department due to limited number of human resources.</span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;">The report of the Financial Comptroller General&rsquo;s Office has pointed out the flaws in budget spent on road projects, birdges and other infrastructures as well as arrears and budget transfer and consultant service charge. The report has suggested the government to reduce the dependence on foreign consultancy service and to develop skilled manpower within 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:&quot;Arial Unicode MS&quot;">However, the first quarter report of the department states that the human resources at the department is currently not sufficient to conduct surveys and feasibility studies. </span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;">The department&rsquo;s internal report also states that the lack of budget ceiling while announcing the budget for different contracts has forced them to transfer budget from one heading to another.</span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;">The department claimed that it has been spending money on consultancy charge as per the existing laws. </span></span></span></span></p>

<p>&nbsp;</p>
',
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	(int) 6 => array(
		'Article' => array(
			'id' => '12810',
			'article_category_id' => '1',
			'title' => 'Arresting Defaulting Sugar Mill Owners is not the Solution to the Problem: Sugarcane Farmers',
			'sub_title' => '',
			'summary' => 'December 16: The agitating sugarcane farmers who have arrived in the capital seeking government support for the release of their due payment from sugar factories have said  arresting the factory owners will not resolve their payment issue.',
			'content' => '<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;">December 16: The agitating sugarcane farmers who have arrived in the capital seeking government support for the release of their due payment from sugar factories have said&nbsp; arresting the factory owners will not resolve their payment 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:&quot;Arial Unicode MS&quot;">The remarks come after the Ministry of Home Affairs on Tuesday (December 16) directed the concerned district administration office to arrest the owners of four sugar mills that have defaulted in paying the farmers. </span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;">Secretary of Sugarcane Farmers Struggle Committee, Sarlahi, Hari Shyam Raya said that the arrests of sugar factory owners is not a matter of their concern. </span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;">&ldquo;We will not get our money just because the government arrests the sugar factory owners. Therefore, the government must facilitate on compelling them to pay our due amounts instead of arresting them,&rdquo; said Raya. </span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;">The sugarcane farmers of Sarlahi have been protesting at Maitighar Mandala in the capital since the last three days demanding the release of their long-standing dues from the sugar factories.</span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;">On the third day of the demonstration, the government issued arrest warrants against the operators of Indira Sugar Mill, Nawalparasi, Lumbini Sugar Mill, Nawalparasi, Annapurna Sugar Mill, Sarlahi and Shree Ram Sugar Mill, Rautahat for not paying the farmers.</span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;">The farmers argue that even though the police arrest the operators, they get released on bail soon while the issue of payment remains where it is. Therefore, chairman of the struggle committee Ram Raya says arresting the operators is not a solution to the problem because the main issue is related to their due amount. &nbsp;</span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;">Spokesperson at the home ministry Chakra Bahadur Budha admits arresting the sugar mill owners alone is not the solution but he assured that the defaulters would face strict action. He however did not specify what kind of action the ministry would take. According to Budha, the ministry has directed concerned authorities to arrest the defaulters and take necessary actions.</span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;">Meanwhile, the agitating farmers have intensified their protest saying that if the issue is not resolved soon they will demand interest on their due amount of Rs 900 million which the sugar mills are yet to pay. Around 300 sugarcane farmers were present during Tuesday&rsquo;s protest.</span></span></span></span></p>

<p>&nbsp;</p>
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	(int) 7 => array(
		'Article' => array(
			'id' => '12809',
			'article_category_id' => '1',
			'title' => 'New Ordinance Further Divides the Ruling Party',
			'sub_title' => '',
			'summary' => 'December 16: The internal dispute within the ruling Nepal Communist Party has taken a new twist. ',
			'content' => '<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;">December 16: The internal dispute within the ruling Nepal Communist Party has taken a new twist. The internal rift has further widened after Prime Minister KP Oli issued a new ordinance related to the Constitutional Council without consulting with the party leaders and cabinet ministers. </span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;">President Bidya Devi Bhandari on Tuesday (December 15) issued the an ordinance to amend the Constitutional Council Act 2066 upon the recommendation of the prime minister.</span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;">The new ordinance has a provision that allows at least three members of the council including the prime minister to take vital decisions. Prior to this, there was a requirement for at least four members and the chairman&rsquo;s to endorse the decisions. </span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;">Tuesday&rsquo;s meeting took place despite the absence of main opposition party leader Sher Bahadur Deuba and lower house speaker Agni Sapkota. The meeting discussed about appointments to fill the vacant posts at various constitutional bodies but did not take any decision.</span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;">The constitutional council chaired by the prime minister has parliament speaker, upper house chairman, main opposition party leader, chief justice and deputy speaker as members.</span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;">The prime minister&rsquo;s decision to issue the ordinance at a time when he has been facing mounting criticism from the party&rsquo;s secretariat and standing committee members for the unilateral decisions he has been taking has further worsened the crisis within the party.</span></span></span></span></p>

<p>&nbsp;</p>
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	(int) 8 => array(
		'Article' => array(
			'id' => '12808',
			'article_category_id' => '1',
			'title' => 'Covid-19 Insurance Claim Amount Exceeds Premium Collection',
			'sub_title' => '',
			'summary' => 'December 15: The insurance claim amount for Covid-19 Insurance Policy has exceeded the insurance premium.',
			'content' => '<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;">December 15: The insurance claim amount for Covid-19 Insurance Policy has exceeded the insurance premium. Of late, the number of people purchasing the Covid-19 insurance policy is getting less while the number of people claiming settlement amount has been increasing. </span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;">Non-life insurance companies have expedited the process of claim settlement as per the government&rsquo;s directive. As a result, the number of claims settlements has increased significantly.</span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;">According to the data provided by Nepal Insurers Association, so far the insurance companies have collected insurance premium worth Rs 990 million. The association informed that the insurance companies have already settled claims by compensating the claimants with Rs 1.29 billion rupees. Altogether 10,565 persons have claimed the amount, according to the association.</span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;">&ldquo;The collection of insurance premium has declined due to news regarding the delay in claims settlement. However, the claimants are increasing day by day,&rdquo; said Chankey Chhetri, spokesperson of Nepal Insurers Association.</span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;">According to the association, they are yet to compensate the claimants with billions of rupees. Data maintained by the association show that more than Rs 3 billion is due for compensating 31,236 beneficiaries who had purchased the insurance 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:&quot;Arial Unicode MS&quot;">The insurance companies say that they have expedited the process of claims settlement following instructions from the Ministry of Finance.</span></span></span></span></p>
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	(int) 9 => array(
		'Article' => array(
			'id' => '12807',
			'article_category_id' => '1',
			'title' => 'Concept of Mixing 10 Percent Ethanol in Petrol Fails to Materialize',
			'sub_title' => '',
			'summary' => 'December 15: The government’s plan to distribute petrol by mixing 10 percent ethanol has failed to materialize.',
			'content' => '<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;">December 15: The government&rsquo;s plan to distribute petrol by mixing 10 percent ethanol has failed to materialize. The concept was developed to reduce the cost factor, but the government has not taken any steps towards meeting the objective. It has been stated that the government is reluctant to take the initiative because the cost of petrol is not excessively high 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:&quot;Arial Unicode MS&quot;">The government had decided to mix 10 percent ethanol in petrol about 17 years ago. Nepal Oil Corporation made necessary preparations to implement the decision in 2014. However, the state-owned oil corporation said that the issue did not get priority due to problems in implementing the decision.</span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;">The concept was also developed to promote domestic industries that produce ethanol. The plan if implemented would also promote eco-friendly fuel and decrease the country&rsquo;s dependency on import of petroleum products. But the NOC has not taken any steps towards implementing the decision, informed Binit Mani Upadhyay, spokesperson of NOC.</span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;">&ldquo;We are currently busy storing petroleum products. Our focus is also on petroleum pipeline. However, we do not have any immediate plans to mix ethanol in petrol,&rdquo; said Upadhyay.</span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;">&ldquo;NOC did not put this concept in priority after it was found that the plan would not be much cost effective practically,&rdquo; he added. </span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;">Nepal imports petroleum products worth billions of rupees every year. The government developed the concept to mix ethanol in petrol to reduce the cost. At that time, the government had conceptualized to use the ethanol produced by the local sugar mills of the country. However, the sugar mills were not able to supply adequate amount of ethanol and the cost of transporting ethanol was not as cheap as expected. Therefore, the concept did not get any priority, said Upadhyay.</span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;">&ldquo;We had even set up a facility to store ethanol in Amlekhgunj. But later it was found that mixing ethanol would not reduce the cost factor and therefore it never fell in our priority list.&rdquo;</span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;">Petrol is currently being imported at the rate of Rs 45 to Rs 50 per litre. The retail cost is high only because of taxes under different headings. Adding ethanol would make no difference to the cost factor, informed Upadhyay.</span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;">Countries like India, Canada, Brazil, the USA and some African as well as Asian countries have already started selling petrol by mixing ethanol. </span></span></span></span></p>

<p>&nbsp;</p>
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	(int) 10 => array(
		'Article' => array(
			'id' => '12806',
			'article_category_id' => '1',
			'title' => 'Export to China Halted since a Year ',
			'sub_title' => '',
			'summary' => 'December 15: Export of Nepali goods to China have been halted for the past one year due to the closure of border by China.',
			'content' => '<p><span style="font-size:11pt"><span style="font-family:Calibri"><span style="font-size:14.0pt"><span style="font-family:&quot;Times New Roman&quot;">December 15: Export of Nepali goods to China have been halted for the past one year due to the closure of border by China. Businessmen say that the export from the northern border points of Nepal has been completely stopped even though some goods are exported to China through chartered planes and via Indian ports. </span></span></span></span></p>

<p><span style="font-size:11pt"><span style="font-family:Calibri"><span style="font-size:14.0pt"><span style="font-family:&quot;Times New Roman&quot;">Nepal exports materials like handicrafts, carpets and other products to China. Last year, after the emergence of Covid-19 cases in China, the Nepali side had themselves stopped the trade through the border. </span></span></span></span></p>

<p><span style="font-size:11pt"><span style="font-family:Calibri"><span style="font-size:14.0pt"><span style="font-family:&quot;Times New Roman&quot;">As the coronavirus spread globally, China closed the border. Since then, the border has not been opened although the businessmen have repeatedly urged the government to take initiative to open the checkpoint. As per the agreement reached between Nepal-China commerce secretaries in last May, the import has been partially opened but the export is still closed. </span></span></span></span></p>

<p><span style="font-size:11pt"><span style="font-family:Calibri"><span style="font-size:14.0pt"><span style="font-family:&quot;Times New Roman&quot;">&nbsp;At present, the Chinese side is delivering a maximum of five containers of goods to the border daily, while Nepali containers are strictly prohibited from crossing the border. President of Nepal Himalayan Cross-Border Trade Association, Bachchu Poudel said that Nepali products have not been able to find a market due to the closure of the border checkpoint and some businessmen are contemplating to give up their business. </span></span></span></span></p>

<p><span style="font-size:11pt"><span style="font-family:Calibri"><span style="font-size:14.0pt"><span style="font-family:&quot;Times New Roman&quot;">He said that although the association has urged the government to take initiative to open the border several times, there hasn&rsquo;t been any progress. He said, &ldquo;Currently, five containers are barely coming through the customs point from where 100 containers of goods used to be imported daily.&rdquo; </span></span></span></span></p>

<p><span style="font-size:11pt"><span style="font-family:Calibri"><span style="font-size:14.0pt"><span style="font-family:&quot;Times New Roman&quot;">Lepsang Sherpa, secretary of the association and a Nepal-China bilateral trader, said that they are looking for alternatives to the Chinese market. He said there were various problems in exporting goods to China even under normal circumstances. According to him, there is a problem in export due to the monopoly of Chinese traders. He said that only Chinese-licensed traders could supply goods and export could not meet the demand even though there is a market. </span></span></span></span></p>

<p>&nbsp;</p>
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	(int) 11 => array(
		'Article' => array(
			'id' => '12805',
			'article_category_id' => '1',
			'title' => 'Nepali Delegation to Visit B’desh to Finalize Fertilizer Import Deal ',
			'sub_title' => '',
			'summary' => 'December 15: A team from the Agriculture Inputs Company Limited is preparing to visit Bangladesh to finalize a deal to procure 50,000 metric tons of urea under G2G deal with the neighbouring country.',
			'content' => '<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;">December 15: A team from the Agriculture Inputs Company Limited is preparing to visit Bangladesh to finalize a deal to procure 50,000 metric tons of urea under G2G deal with the neighbouring 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:&quot;Arial Unicode MS&quot;">Spokesperson at the Ministry of Agriculture and Livestock Development Dr Hari Bahadur KC confirmed that the team representing the Agriculture Inputs Company Limited is preparing to leave for Bangladesh in this regard. According to Dr KC, the team will sign an agreement and also discuss other issues in Bangladesh.</span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;">&ldquo;We are currently in the process of acquiring visa. Our team will leave for Bangladesh by this Tuesday or Wednesday,&rdquo; said Netra Bhandari, director of the state-owned Agriculture Inputs Company Limited.</span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;">According to Director Bhandari, the team is scheduled to sign a deal on the next day upon landing in Bangladesh. The company will then open a Letter of Credit after the deal is finalized, informed Bhandari.</span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;">The chemical fertilizer will arrive at the border within 20 days after the company hands gives the green signal to bring the urea to the contractor selected through a global tender.</span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;">Bangladesh will release the fertilizer from Chatgaun Port while Zen Trade Company will transport the fertilizers to 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:&quot;Arial Unicode MS&quot;">Two companies &ndash; Shailung Enterprises and Honiko Multiple &ndash; that had been earlier awarded the contracts to import urea during the plantation season failed to bring the fertilizer on time citing coronavirus pandemic for the delay. After repeated failure to bring the fertilizer on time, the government decided to borrow urea from Bangladesh. However, Bangladesh declined to send the fertilizers in the last minute. The government then decided to sign an G2G deal with Bangladesh to import the fertilizer.</span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;">Shailung is still in the process of importing 25,000 metric tons of urea.</span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;">The Agriculture Inputs Company Limited informed that it has a stock of 22,000 metric tons of urea and 9,000 metric tons of potassium. The company is in the process of importing 30,000 metric tons of urea while it is currently distributing 20,000 metric tons of DAP.</span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;">Similarly, the Salt Trading Corporation has a stock of 16,000 metric tons of DAP and 18,000 metric tons of urea.</span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;">The company informed that the fertilizer from Bangladesh will be sufficient to meet the demand for the winter crop. </span></span></span></span></p>

<p>&nbsp;</p>
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		'Article' => array(
			'id' => '12804',
			'article_category_id' => '1',
			'title' => 'Price of Gold Drops Marginally ',
			'sub_title' => '',
			'summary' => 'December 15: The price of gold has declined marginally on Tuesday (December 15). ',
			'content' => '<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;">December 15: </span></span><span style="font-size:14.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;">The price of gold has declined marginally on Tuesday (December 15). On Monday, the price of gold fell by Rs 100 per tola (11 grams approx.) while it dropped by the same margin on Tuesday.</span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;">According to the Federation of Nepalese Gold and&nbsp; Silver Dealers Association, fine gold is being sold for Rs 92,300 per 11 grams on Tuesday.</span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;">The price of silver remained stable on Tuesday. A day ago, the price of silver had dropped by Rs 200 per 11 grams. Silver is being traded for Rs 1200 per 11 grams on Tuesday.</span></span></span></span></p>

<p>&nbsp;</p>
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		'Article' => array(
			'id' => '12802',
			'article_category_id' => '1',
			'title' => 'Covid-19 Pandemic Delays Construction of Kathmandu-Tarai Fast Track',
			'sub_title' => '',
			'summary' => 'December 14: The timeframe to start construction of tunnels and complex bridges along the Kathmandu-Tarai Fast Track has been further extended due to procedural delay.',
			'content' => '<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;">December 14: The timeframe to start construction of tunnels and complex bridges along the Kathmandu-Tarai Fast Track has been further extended due to procedural delay. The Nepalese Army, which has been handed over the contract to oversee the construction of the fast track, informed that the construction will begin within upcoming summer (May)&nbsp; till the end of current fiscal year. The army has stated procedural hassles for the delay in starting construction.</span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;">The army was earlier planning to start the construction from mid-December as per its holistic plan. </span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;">The army claimed that the impact of coronavirus and lockdown affected the project as they could not finalize national and international consultant companies the construction of tunnels and bridges. However, the army said it has already started evaluation for selecting international construction company for the construction of tunnels.</span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;">The selection will be completed within December. The Nepalese Army is preparing to sign an agreement with the foreign companies within the next three months after the selection is finalized.</span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;">The Nepalese Army has itself completed 88 percent of works to open the track of the 72.5 kilometer fast track.</span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;">The major works that are still pending include construction of three tunnels and 16 complex bridges.</span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;">The delay in work progress has also increased the cost of the project. A total of 17 kilometers of the fast track comprises of tunnels and bridges. These are the infrastructures where the maximum amount of budget is required.</span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;">The army has so far spent a budget of Rs 15.66 billion for the project. The total cost of the project is estimated to be 175 billion, according to the detailed project report.</span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;">The Nepalese Army was handed the responsibility of the fast track three years ago as per the decision taken by the Council of Ministers on May 4, 2017.</span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;">Although army has been carrying out the construction work, it took almost two years for the DPR to be approved by the government. Army&rsquo;s spokesperson Santosh Ballav Poudel says that the construction has not been able to gain pace due to coronavirus pandemic.</span></span></span></span></p>

<p>&nbsp;</p>
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			'id' => '12801',
			'article_category_id' => '1',
			'title' => 'Nepal Makes Marginal Progress in HDI',
			'sub_title' => '',
			'summary' => 'December 14: Nepal has made minimal progress in Human Development Index, according to the Human  Development Report 2020 prepared by the United Nations Development Programme.',
			'content' => '<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;">December 14: Nepal has made minimal progress in Human Development Index, according to the Human&nbsp; Development Report 2020 prepared by the United Nations Development Programme.</span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;">The report says Nepal still has to make some improvements upgrade its status as a developing nation.</span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;">The report unveiled by the UNDP on Sunday (December 13) states that Nepal has made some progress in HDI during 2019. According to the report, Nepal improved its ranking in the HDI by one step.</span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;">Nepal currently lies in the mid-category among countries in terms of human development and needs to fulfill two criteria to upgrade its status from least developed country to developing country by 2022. The country needs to meet the requirement of per capital income, human capital index and financial risk index to upgrade its status. Except the per capital income, Nepal is likely to fulfill all other criteria by 2022.</span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;">The report unveiled jointly by Finance Minister Bishnu Poudel and Vice Chairman of the National Planning Commission Dr Pushpa Raj Kandel states that Nepal&rsquo;s HDI Value during 2019 was 0.587. The HDI Value of Nepal in 2018 was 0.579.</span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;">Compared to 2018, Nepal made progress in education standard in 2019 although the average income and average age of Nepalis remained constant. This factor contributed in a marginal rise in Nepal&rsquo;s HDI. Nepal&rsquo; cannot progress into a developing nation unless there is improvement in per capita income.</span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;">According to the Human Development Report 2020, the average age of Nepalis is 70.5 years. Nepal is ahead of Pakistan and Afghanistan in South Asia in terms of HDI.</span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;">The report also states that there is a stark difference in human development among urban areas and rural areas 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:&quot;Arial Unicode MS&quot;">The report points out to infrastructural and institutional hurdles, policies adopted by the country and other factors as major challenges for human development of Nepal. It suggests improving the standard of health and education as well as people&rsquo;s reach to health facilities and educational institutions.</span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;">&ldquo;Lack of sufficient health infrastructure and disruption in medical supplies pose further risk to people fighting against various diseases,&rdquo; states the report adding, &ldquo;Hundreds of thousands of students have been deprived of studying opportunity due to closure of schools.&rdquo;</span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;">The report also suggests short-term, medium-term and long-term relief packages and economic revitalization of the country. Unveiling the report, Finance Minister Poudel said that the government will take into consideration the suggestions given by the report.</span></span></span></span></p>

<p>&nbsp;</p>

<p>&nbsp;</p>
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			'id' => '12820',
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			'title' => 'Sugarcane Farmers Warn of Hunger Strike ',
			'sub_title' => '',
			'summary' => 'December 17: Sugarcane farmers, who have been protesting in Kathmandu since four days to recover their due payment from sugar mills, have now warned to go on a hunger strike if they do not receive their payment.',
			'content' => '<p><span style="font-size:11pt"><span style="font-family:Calibri"><span style="font-size:14.0pt"><span style="font-family:&quot;Times New Roman&quot;">December 17: Sugarcane farmers, who have been protesting in Kathmandu since four days to recover their due payment from sugar mills, have now warned to go on a hunger strike if they do not receive their payment. According to Hari Shyam Raya, secretary of the Sugarcane Farmers&#39; Struggle Committee, Sarlahi, the government should have fulfilled its five-point commitment made with the farmers last year. However, he said that the government was not serious about it and was taking a different path. </span></span></span></span></p>

<p><span style="font-size:11pt"><span style="font-family:Calibri"><span style="font-size:14.0pt"><span style="font-family:&quot;Times New Roman&quot;">He further says that they are not hopeful of getting money by arresting the operators of the sugar mills. &ldquo;If we don&rsquo;t get the money within a week, we will go on a relay hunger strike,&rdquo; he said. Last year on January 3, the sugar mill owners had made a five-point agreement with the farmers in the presence of the government and agreed to pay the entire amount by January 21, 2020. This time, the farmers are thinking of returning only after receiving their money. Farmers from other districts are increasingly coming to Kathmandu to support the protest. </span></span></span></span></p>

<p><span style="font-size:11pt"><span style="font-family:Calibri"><span style="font-size:14.0pt"><span style="font-family:&quot;Times New Roman&quot;">When the sugarcane farmers of Sarlahi started protesting at Maitighar on Sunday, only about 100 people had participated. Sugarcane farmers from Nawalparasi, Bara, Parsa, Rautahat and Saptari have also arrived in Kathmandu on Wednesday. As of Wednesday, the number of protesting farmers has reached 500. The committee stated that they will gather 1,000 farmers within a week. </span></span></span></span></p>

<p><span style="font-size:11pt"><span style="font-family:Calibri"><span style="font-size:14.0pt"><span style="font-family:&quot;Times New Roman&quot;">Even though the government has invited the sugarcane farmers for talks, they refused to sit for talks until they receive their money. Ram Raya, president of the committee said that as their main demand is to receive their due money, they will not return until they get the payment. Furthermore, he urged the government not to consider their protest as weak, as the locals of Kathmandu are also supporting their demonstration. </span></span></span></span></p>

<p>&nbsp;</p>
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			'id' => '12812',
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			'title' => 'Deposit Collection, Flow of Loans Improving: NBA',
			'sub_title' => '',
			'summary' => 'December 16: Deposit collection of commercial banks has improved in the past one month. The flow of loan has also increased, according to Nepal Bankers Association (NBA).',
			'content' => '<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;">December 16: Deposit collection of commercial banks has improved in the past one month. The flow of loan has also increased, according to Nepal Bankers Association (NBA).</span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;">The association informed that the deposit collection of 27 commercial banks increased by Rs 46 billion in the month of Mangsir (mid-November to mid-December). The total deposits of the commercial bank currently stands at Rs 3,694 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:&quot;Arial Unicode MS&quot;">Deposit collection in the month of Kartik (mid-October to mid-November) was in deficit by Rs 6 billion. Banks have recently lowered the interest on deposits after lowering the rate of interest on loans. Experts believe that deposit collection might have become negative due to the lowering of interest rate. </span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;">However, chairman of Nepal Bankers Association Bhuvan Kumar Dahal says it is not because of the low interest rate that the deposit collection slumped. He says the negative deposit collection is a result of decline in remittance and increase in imports.</span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;">&ldquo;The rate of inflation is still hovering around 4 percent at present. The rate of interest that the banks provide to savings accounts should be similar to the rate of inflation. Most of the banks have fixed the interest rate for general savings account at more than 4 percent. Some even provide 5 percent interest,&rdquo; said Dahal.</span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;">The association informed that both deposit collection and flow of loans have improved in 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:&quot;Arial Unicode MS&quot;">The flow of loan in the month of Mangsir has reached Rs 49 billion while the total loans given out by the banks stands at Rs 3101 billion, informed Dahal. This is an increase compared to the previous month.</span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;">The flow of loan in the month of Kartik (mid-October to mid-November) was Rs 17 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:&quot;Arial Unicode MS&quot;">Chairman Dahal says that financial activities have increased after Tihar festival. He says that the banks&rsquo; customers are increasingly opening Letter of Credit (LC) while the transactions are also increasing.</span></span></span></span></p>

<p>&nbsp;</p>
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			'id' => '12817',
			'article_category_id' => '1',
			'title' => 'Detailed Study Report of 4 Major Projects Submitted to IBN',
			'sub_title' => '',
			'summary' => 'December 17: Developers of four major infrastructure projects facilitated by the Investment Board of Nepal (IBN) have submitted a detailed study report of the projects to the board.',
			'content' => '<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:Helvetica">December 17: Developers of four major infrastructure projects facilitated by the Investment Board of Nepal (IBN) have submitted a detailed study report of the projects to the board.</span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:Helvetica">Private Freight Terminal and Bulk Handling Facilities to be constructed in Birgunj and Bhairahawa are among the four projects. Fash Freight Logistics and International Cargo Terminal and Infrastructure Private Limited is the developer of the projects and has already submitted the detailed feasibility study report on Tuesday, December 15.</span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:Helvetica">For the project, an agreement was reached between the Investment Board and the developer company on December 1, 2019.&nbsp;</span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:Helvetica">Similarly, CG Logistics Pvt Ltd and Sarraf Group, the developer of the multi-model logistics park project to be constructed in Biratnagar, have also submitted the their reports. An agreement in this regard was reached between the board and the developing company on 17 June, 2019.</span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:Helvetica">Likewise, Damak Clean Industrial Park has submitted its report on Monday, December 14, on behalf of the developer for the construction of China-Nepal Friendship Industrial Park project.&nbsp;</span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:Helvetica">The 39th meeting of the Investment Board held on 2 July 2019 had approved an investment of USD 58.61 million for the construction of the project. The project will be constructed in Damak, Jhapa with the joint investment of Lhasa Economic and Technology Development Zone, Ching Ping Joint Creation Construction Project Development Company and Damak Clean Industrial Park.</span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:Helvetica">Also, the developer company Muktinath Darshan Pvt Ltd has submitted its report on November 29, 2020, for the construction of the Birethanti-Muktinath cable car. The proposed 80.16 km long cable car will reach Muktinath via Birethanti, Ghorepani, Tatopani, Lete, Kowang, Tukuche, Marfa, and Jomsom.</span></span></span></span></p>

<p>&nbsp;</p>
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			'id' => '12814',
			'article_category_id' => '237',
			'title' => 'Nokia Launches C1 Plus with Face Unlock',
			'sub_title' => '',
			'summary' => 'December 16: Building on the success of the previous C-series phones, HMD Global, a marketing company, announced a new addition to the Nokia series phones. ',
			'content' => '<p><span style="font-size:11pt"><span style="font-family:Calibri"><span style="font-size:14.0pt">December 16:</span><span style="font-size:14.0pt"> Building on the success of the previous C-series phones, HMD Global, a marketing company, announced a new addition to the Nokia series phones. According to the company, the new Nokia C1 Plus is the lowest cost 3G+ 4G smartphone available in the market. </span></span></span></p>

<p><span style="font-size:11pt"><span style="font-family:Calibri"><span style="font-size:14.0pt">The C-series mission is to bring affordable smartphone experiences to everyone, says a statement issued by the company. The Nokia C1 Plus, brings 4G connectivity to the introductory level of the C-series, offering wider experiences to even more users around the world. </span></span></span></p>

<p><span style="font-size:11pt"><span style="font-family:Calibri"><span style="font-size:14.0pt">&ldquo;With the Nokia </span><span style="font-size:14.0pt">C1 Plus</span><span style="font-size:14.0pt">, fans can enjoy sharp content throughout &ndash; energising selfies and videos, apps and texts that pop, and immersive entertainment delivered to you crisp and clean,&rdquo; said the statement. </span></span></span></p>

<p><span style="font-size:11pt"><span style="font-family:Calibri"><span style="font-size:14.0pt">The smartphone comes with a 2,500 mAh battery that gives power for a whole day. </span><span style="font-size:14.0pt">For added security and convenience, face unlock will give the access to everything at a glance</span><span style="font-size:14.0pt">. According to the company, the new series also has improved storage.</span></span></span></p>

<p><span style="font-size:12pt"><span style="font-family:&quot;Times New Roman&quot;"><span style="font-size:14.0pt"><span style="font-family:Calibri">The&nbsp;Nokia C1 Plus launched on December 15 in Nepal in 1GB+16BG storage variants are priced at Rs 8,399 and are available in blue and red colours.</span></span>&nbsp;</span></span></p>

<p>&nbsp;</p>

<p>&nbsp;</p>
',
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			'sortorder' => '12560',
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	(int) 4 => array(
		'Article' => array(
			'id' => '12813',
			'article_category_id' => '266',
			'title' => 'eSewa and Viber Ink Deal ',
			'sub_title' => 'Customers can now top-up talk time and send money through Viber',
			'summary' => 'December 16: eSewa, a digital payment service provider of Nepal, and popular messaging app, Rakuten Viber have joined hands to facilitate their customers, who can now top-up talk time and send money to contact numbers through Viber.',
			'content' => '<p><span style="font-size:11pt"><span style="font-family:Calibri">December 16: eSewa, a digital payment service provider of Nepal, and popular messaging app, Rakuten Viber have joined hands to facilitate their customers, who can now top-up talk time and send money to contact numbers through Viber.</span></span></p>

<p><span style="font-size:11pt"><span style="font-family:Calibri">With this partnership, Viber users in Nepal can seamlessly link their eSewa account to top up talk time as well as send money to other users from within the Viber App. </span></span></p>

<p><span style="font-size:11pt"><span style="font-family:Calibri">According to eSwea, this partnership is the first of its kind in the Asia Pacific Region. eSewa claimed that it has become only the third company to partner with Viber for payment services after Apple and Google. This feature is available to all the Viber users in Nepal, says a statement issued by eSewa.</span></span></p>

<p><span style="font-size:11pt"><span style="font-family:Calibri">As an introductory offer, users can enjoy a&nbsp; 10 percent or maximum of Rs 100 cashback on recharge and five percent or maximum Rs 50 on fund transfer, added the statement. </span></span></p>

<p><span style="font-size:11pt"><span style="font-family:Calibri">&ldquo;Besides that, on weekly basis, customers will get a chance to win attractive gifts/vouchers and as a bumper price, one lucky customer will win a laptop.&rdquo;</span></span></p>

<p><span style="font-size:11pt"><span style="font-family:Calibri">Roshan Lamichhane, Chief Operating Officer of eSewa says this is a breakthrough in digital payments in Nepal and it will bring a new dimension to digital payments in the country. &ldquo;We will continue to innovate and make financial transactions simple, secure, and affordable,&rdquo; he said</span></span></p>

<p><span style="font-size:11pt"><span style="font-family:Calibri">Similarly, Anna Znamenskaya, Chief Growth Officer, Rakuten Viber said, &ldquo;We have always envisioned Viber to be a lifetime app that is of maximum benefit to its users. One of the ways to make this happen is to ensure that our users have access to a secure alternative platform to make their financial transactions such as top-ups and fund transfer as convenient as possible.&rdquo;</span></span></p>

<p>&nbsp;</p>

<p>&nbsp;</p>

<p>&nbsp;</p>

<p>&nbsp;</p>
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			'image' => '20201216034031_viber_image_2020-12-16_13-09-32(1).jpg',
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	(int) 5 => array(
		'Article' => array(
			'id' => '12811',
			'article_category_id' => '1',
			'title' => 'Large Sum of Project Money is Taken by Foreign Consultants',
			'sub_title' => '',
			'summary' => 'December 16: The Department of Roads has been hiring consultants for detailed study despite having 27 technical experts at its disposal working in the department’s Project Directorate Office.',
			'content' => '<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;">December 16: The Department of Roads has been hiring consultants for detailed study despite having 27 technical experts at its disposal working in the department&rsquo;s Project Directorate Office.</span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;">The department has to spend excessive amount of budget for acquiring the services of consultants.</span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;">According to the 57<sup>th</sup> report of the Office of the Financial&nbsp; Comptroller General, the total budget of four projects under the department which are being supported by the Asian Development Bank&nbsp; is US$ 273.1 million. Out of the total budget, the cost of hiring consultants alone is US$ 22.6 million which is 8.4 percent in average of the total amount.</span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;">The report further states that the department has so far appointed seven consultants and prepared project designs and cost estimates of the four projects. Besides that, the department has also been monitoring the work progress and quality control in addition to validating the bills presented by the construction companies.</span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;">The department admits weaknesses and flaws in its feasibility studies, detailed survey and designs at the division offices under the department due to limited number of human resources.</span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;">The report of the Financial Comptroller General&rsquo;s Office has pointed out the flaws in budget spent on road projects, birdges and other infrastructures as well as arrears and budget transfer and consultant service charge. The report has suggested the government to reduce the dependence on foreign consultancy service and to develop skilled manpower within 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:&quot;Arial Unicode MS&quot;">However, the first quarter report of the department states that the human resources at the department is currently not sufficient to conduct surveys and feasibility studies. </span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;">The department&rsquo;s internal report also states that the lack of budget ceiling while announcing the budget for different contracts has forced them to transfer budget from one heading to another.</span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;">The department claimed that it has been spending money on consultancy charge as per the existing laws. </span></span></span></span></p>

<p>&nbsp;</p>
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	(int) 6 => array(
		'Article' => array(
			'id' => '12810',
			'article_category_id' => '1',
			'title' => 'Arresting Defaulting Sugar Mill Owners is not the Solution to the Problem: Sugarcane Farmers',
			'sub_title' => '',
			'summary' => 'December 16: The agitating sugarcane farmers who have arrived in the capital seeking government support for the release of their due payment from sugar factories have said  arresting the factory owners will not resolve their payment issue.',
			'content' => '<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;">December 16: The agitating sugarcane farmers who have arrived in the capital seeking government support for the release of their due payment from sugar factories have said&nbsp; arresting the factory owners will not resolve their payment 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:&quot;Arial Unicode MS&quot;">The remarks come after the Ministry of Home Affairs on Tuesday (December 16) directed the concerned district administration office to arrest the owners of four sugar mills that have defaulted in paying the farmers. </span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;">Secretary of Sugarcane Farmers Struggle Committee, Sarlahi, Hari Shyam Raya said that the arrests of sugar factory owners is not a matter of their concern. </span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;">&ldquo;We will not get our money just because the government arrests the sugar factory owners. Therefore, the government must facilitate on compelling them to pay our due amounts instead of arresting them,&rdquo; said Raya. </span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;">The sugarcane farmers of Sarlahi have been protesting at Maitighar Mandala in the capital since the last three days demanding the release of their long-standing dues from the sugar factories.</span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;">On the third day of the demonstration, the government issued arrest warrants against the operators of Indira Sugar Mill, Nawalparasi, Lumbini Sugar Mill, Nawalparasi, Annapurna Sugar Mill, Sarlahi and Shree Ram Sugar Mill, Rautahat for not paying the farmers.</span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;">The farmers argue that even though the police arrest the operators, they get released on bail soon while the issue of payment remains where it is. Therefore, chairman of the struggle committee Ram Raya says arresting the operators is not a solution to the problem because the main issue is related to their due amount. &nbsp;</span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;">Spokesperson at the home ministry Chakra Bahadur Budha admits arresting the sugar mill owners alone is not the solution but he assured that the defaulters would face strict action. He however did not specify what kind of action the ministry would take. According to Budha, the ministry has directed concerned authorities to arrest the defaulters and take necessary actions.</span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;">Meanwhile, the agitating farmers have intensified their protest saying that if the issue is not resolved soon they will demand interest on their due amount of Rs 900 million which the sugar mills are yet to pay. Around 300 sugarcane farmers were present during Tuesday&rsquo;s protest.</span></span></span></span></p>

<p>&nbsp;</p>
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	(int) 7 => array(
		'Article' => array(
			'id' => '12809',
			'article_category_id' => '1',
			'title' => 'New Ordinance Further Divides the Ruling Party',
			'sub_title' => '',
			'summary' => 'December 16: The internal dispute within the ruling Nepal Communist Party has taken a new twist. ',
			'content' => '<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;">December 16: The internal dispute within the ruling Nepal Communist Party has taken a new twist. The internal rift has further widened after Prime Minister KP Oli issued a new ordinance related to the Constitutional Council without consulting with the party leaders and cabinet ministers. </span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;">President Bidya Devi Bhandari on Tuesday (December 15) issued the an ordinance to amend the Constitutional Council Act 2066 upon the recommendation of the prime minister.</span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;">The new ordinance has a provision that allows at least three members of the council including the prime minister to take vital decisions. Prior to this, there was a requirement for at least four members and the chairman&rsquo;s to endorse the decisions. </span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;">Tuesday&rsquo;s meeting took place despite the absence of main opposition party leader Sher Bahadur Deuba and lower house speaker Agni Sapkota. The meeting discussed about appointments to fill the vacant posts at various constitutional bodies but did not take any decision.</span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;">The constitutional council chaired by the prime minister has parliament speaker, upper house chairman, main opposition party leader, chief justice and deputy speaker as members.</span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;">The prime minister&rsquo;s decision to issue the ordinance at a time when he has been facing mounting criticism from the party&rsquo;s secretariat and standing committee members for the unilateral decisions he has been taking has further worsened the crisis within the party.</span></span></span></span></p>

<p>&nbsp;</p>
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	(int) 8 => array(
		'Article' => array(
			'id' => '12808',
			'article_category_id' => '1',
			'title' => 'Covid-19 Insurance Claim Amount Exceeds Premium Collection',
			'sub_title' => '',
			'summary' => 'December 15: The insurance claim amount for Covid-19 Insurance Policy has exceeded the insurance premium.',
			'content' => '<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;">December 15: The insurance claim amount for Covid-19 Insurance Policy has exceeded the insurance premium. Of late, the number of people purchasing the Covid-19 insurance policy is getting less while the number of people claiming settlement amount has been increasing. </span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;">Non-life insurance companies have expedited the process of claim settlement as per the government&rsquo;s directive. As a result, the number of claims settlements has increased significantly.</span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;">According to the data provided by Nepal Insurers Association, so far the insurance companies have collected insurance premium worth Rs 990 million. The association informed that the insurance companies have already settled claims by compensating the claimants with Rs 1.29 billion rupees. Altogether 10,565 persons have claimed the amount, according to the association.</span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;">&ldquo;The collection of insurance premium has declined due to news regarding the delay in claims settlement. However, the claimants are increasing day by day,&rdquo; said Chankey Chhetri, spokesperson of Nepal Insurers Association.</span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;">According to the association, they are yet to compensate the claimants with billions of rupees. Data maintained by the association show that more than Rs 3 billion is due for compensating 31,236 beneficiaries who had purchased the insurance 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:&quot;Arial Unicode MS&quot;">The insurance companies say that they have expedited the process of claims settlement following instructions from the Ministry of Finance.</span></span></span></span></p>
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	(int) 9 => array(
		'Article' => array(
			'id' => '12807',
			'article_category_id' => '1',
			'title' => 'Concept of Mixing 10 Percent Ethanol in Petrol Fails to Materialize',
			'sub_title' => '',
			'summary' => 'December 15: The government’s plan to distribute petrol by mixing 10 percent ethanol has failed to materialize.',
			'content' => '<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;">December 15: The government&rsquo;s plan to distribute petrol by mixing 10 percent ethanol has failed to materialize. The concept was developed to reduce the cost factor, but the government has not taken any steps towards meeting the objective. It has been stated that the government is reluctant to take the initiative because the cost of petrol is not excessively high 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:&quot;Arial Unicode MS&quot;">The government had decided to mix 10 percent ethanol in petrol about 17 years ago. Nepal Oil Corporation made necessary preparations to implement the decision in 2014. However, the state-owned oil corporation said that the issue did not get priority due to problems in implementing the decision.</span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;">The concept was also developed to promote domestic industries that produce ethanol. The plan if implemented would also promote eco-friendly fuel and decrease the country&rsquo;s dependency on import of petroleum products. But the NOC has not taken any steps towards implementing the decision, informed Binit Mani Upadhyay, spokesperson of NOC.</span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;">&ldquo;We are currently busy storing petroleum products. Our focus is also on petroleum pipeline. However, we do not have any immediate plans to mix ethanol in petrol,&rdquo; said Upadhyay.</span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;">&ldquo;NOC did not put this concept in priority after it was found that the plan would not be much cost effective practically,&rdquo; he added. </span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;">Nepal imports petroleum products worth billions of rupees every year. The government developed the concept to mix ethanol in petrol to reduce the cost. At that time, the government had conceptualized to use the ethanol produced by the local sugar mills of the country. However, the sugar mills were not able to supply adequate amount of ethanol and the cost of transporting ethanol was not as cheap as expected. Therefore, the concept did not get any priority, said Upadhyay.</span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;">&ldquo;We had even set up a facility to store ethanol in Amlekhgunj. But later it was found that mixing ethanol would not reduce the cost factor and therefore it never fell in our priority list.&rdquo;</span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;">Petrol is currently being imported at the rate of Rs 45 to Rs 50 per litre. The retail cost is high only because of taxes under different headings. Adding ethanol would make no difference to the cost factor, informed Upadhyay.</span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;">Countries like India, Canada, Brazil, the USA and some African as well as Asian countries have already started selling petrol by mixing ethanol. </span></span></span></span></p>

<p>&nbsp;</p>
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	(int) 10 => array(
		'Article' => array(
			'id' => '12806',
			'article_category_id' => '1',
			'title' => 'Export to China Halted since a Year ',
			'sub_title' => '',
			'summary' => 'December 15: Export of Nepali goods to China have been halted for the past one year due to the closure of border by China.',
			'content' => '<p><span style="font-size:11pt"><span style="font-family:Calibri"><span style="font-size:14.0pt"><span style="font-family:&quot;Times New Roman&quot;">December 15: Export of Nepali goods to China have been halted for the past one year due to the closure of border by China. Businessmen say that the export from the northern border points of Nepal has been completely stopped even though some goods are exported to China through chartered planes and via Indian ports. </span></span></span></span></p>

<p><span style="font-size:11pt"><span style="font-family:Calibri"><span style="font-size:14.0pt"><span style="font-family:&quot;Times New Roman&quot;">Nepal exports materials like handicrafts, carpets and other products to China. Last year, after the emergence of Covid-19 cases in China, the Nepali side had themselves stopped the trade through the border. </span></span></span></span></p>

<p><span style="font-size:11pt"><span style="font-family:Calibri"><span style="font-size:14.0pt"><span style="font-family:&quot;Times New Roman&quot;">As the coronavirus spread globally, China closed the border. Since then, the border has not been opened although the businessmen have repeatedly urged the government to take initiative to open the checkpoint. As per the agreement reached between Nepal-China commerce secretaries in last May, the import has been partially opened but the export is still closed. </span></span></span></span></p>

<p><span style="font-size:11pt"><span style="font-family:Calibri"><span style="font-size:14.0pt"><span style="font-family:&quot;Times New Roman&quot;">&nbsp;At present, the Chinese side is delivering a maximum of five containers of goods to the border daily, while Nepali containers are strictly prohibited from crossing the border. President of Nepal Himalayan Cross-Border Trade Association, Bachchu Poudel said that Nepali products have not been able to find a market due to the closure of the border checkpoint and some businessmen are contemplating to give up their business. </span></span></span></span></p>

<p><span style="font-size:11pt"><span style="font-family:Calibri"><span style="font-size:14.0pt"><span style="font-family:&quot;Times New Roman&quot;">He said that although the association has urged the government to take initiative to open the border several times, there hasn&rsquo;t been any progress. He said, &ldquo;Currently, five containers are barely coming through the customs point from where 100 containers of goods used to be imported daily.&rdquo; </span></span></span></span></p>

<p><span style="font-size:11pt"><span style="font-family:Calibri"><span style="font-size:14.0pt"><span style="font-family:&quot;Times New Roman&quot;">Lepsang Sherpa, secretary of the association and a Nepal-China bilateral trader, said that they are looking for alternatives to the Chinese market. He said there were various problems in exporting goods to China even under normal circumstances. According to him, there is a problem in export due to the monopoly of Chinese traders. He said that only Chinese-licensed traders could supply goods and export could not meet the demand even though there is a market. </span></span></span></span></p>

<p>&nbsp;</p>
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			'id' => '12805',
			'article_category_id' => '1',
			'title' => 'Nepali Delegation to Visit B’desh to Finalize Fertilizer Import Deal ',
			'sub_title' => '',
			'summary' => 'December 15: A team from the Agriculture Inputs Company Limited is preparing to visit Bangladesh to finalize a deal to procure 50,000 metric tons of urea under G2G deal with the neighbouring country.',
			'content' => '<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;">December 15: A team from the Agriculture Inputs Company Limited is preparing to visit Bangladesh to finalize a deal to procure 50,000 metric tons of urea under G2G deal with the neighbouring 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:&quot;Arial Unicode MS&quot;">Spokesperson at the Ministry of Agriculture and Livestock Development Dr Hari Bahadur KC confirmed that the team representing the Agriculture Inputs Company Limited is preparing to leave for Bangladesh in this regard. According to Dr KC, the team will sign an agreement and also discuss other issues in Bangladesh.</span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;">&ldquo;We are currently in the process of acquiring visa. Our team will leave for Bangladesh by this Tuesday or Wednesday,&rdquo; said Netra Bhandari, director of the state-owned Agriculture Inputs Company Limited.</span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;">According to Director Bhandari, the team is scheduled to sign a deal on the next day upon landing in Bangladesh. The company will then open a Letter of Credit after the deal is finalized, informed Bhandari.</span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;">The chemical fertilizer will arrive at the border within 20 days after the company hands gives the green signal to bring the urea to the contractor selected through a global tender.</span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;">Bangladesh will release the fertilizer from Chatgaun Port while Zen Trade Company will transport the fertilizers to 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:&quot;Arial Unicode MS&quot;">Two companies &ndash; Shailung Enterprises and Honiko Multiple &ndash; that had been earlier awarded the contracts to import urea during the plantation season failed to bring the fertilizer on time citing coronavirus pandemic for the delay. After repeated failure to bring the fertilizer on time, the government decided to borrow urea from Bangladesh. However, Bangladesh declined to send the fertilizers in the last minute. The government then decided to sign an G2G deal with Bangladesh to import the fertilizer.</span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;">Shailung is still in the process of importing 25,000 metric tons of urea.</span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;">The Agriculture Inputs Company Limited informed that it has a stock of 22,000 metric tons of urea and 9,000 metric tons of potassium. The company is in the process of importing 30,000 metric tons of urea while it is currently distributing 20,000 metric tons of DAP.</span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;">Similarly, the Salt Trading Corporation has a stock of 16,000 metric tons of DAP and 18,000 metric tons of urea.</span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;">The company informed that the fertilizer from Bangladesh will be sufficient to meet the demand for the winter crop. </span></span></span></span></p>

<p>&nbsp;</p>
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		'Article' => array(
			'id' => '12804',
			'article_category_id' => '1',
			'title' => 'Price of Gold Drops Marginally ',
			'sub_title' => '',
			'summary' => 'December 15: The price of gold has declined marginally on Tuesday (December 15). ',
			'content' => '<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;">December 15: </span></span><span style="font-size:14.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;">The price of gold has declined marginally on Tuesday (December 15). On Monday, the price of gold fell by Rs 100 per tola (11 grams approx.) while it dropped by the same margin on Tuesday.</span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;">According to the Federation of Nepalese Gold and&nbsp; Silver Dealers Association, fine gold is being sold for Rs 92,300 per 11 grams on Tuesday.</span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;">The price of silver remained stable on Tuesday. A day ago, the price of silver had dropped by Rs 200 per 11 grams. Silver is being traded for Rs 1200 per 11 grams on Tuesday.</span></span></span></span></p>

<p>&nbsp;</p>
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		'Article' => array(
			'id' => '12802',
			'article_category_id' => '1',
			'title' => 'Covid-19 Pandemic Delays Construction of Kathmandu-Tarai Fast Track',
			'sub_title' => '',
			'summary' => 'December 14: The timeframe to start construction of tunnels and complex bridges along the Kathmandu-Tarai Fast Track has been further extended due to procedural delay.',
			'content' => '<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;">December 14: The timeframe to start construction of tunnels and complex bridges along the Kathmandu-Tarai Fast Track has been further extended due to procedural delay. The Nepalese Army, which has been handed over the contract to oversee the construction of the fast track, informed that the construction will begin within upcoming summer (May)&nbsp; till the end of current fiscal year. The army has stated procedural hassles for the delay in starting construction.</span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;">The army was earlier planning to start the construction from mid-December as per its holistic plan. </span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;">The army claimed that the impact of coronavirus and lockdown affected the project as they could not finalize national and international consultant companies the construction of tunnels and bridges. However, the army said it has already started evaluation for selecting international construction company for the construction of tunnels.</span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;">The selection will be completed within December. The Nepalese Army is preparing to sign an agreement with the foreign companies within the next three months after the selection is finalized.</span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;">The Nepalese Army has itself completed 88 percent of works to open the track of the 72.5 kilometer fast track.</span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;">The major works that are still pending include construction of three tunnels and 16 complex bridges.</span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;">The delay in work progress has also increased the cost of the project. A total of 17 kilometers of the fast track comprises of tunnels and bridges. These are the infrastructures where the maximum amount of budget is required.</span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;">The army has so far spent a budget of Rs 15.66 billion for the project. The total cost of the project is estimated to be 175 billion, according to the detailed project report.</span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;">The Nepalese Army was handed the responsibility of the fast track three years ago as per the decision taken by the Council of Ministers on May 4, 2017.</span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;">Although army has been carrying out the construction work, it took almost two years for the DPR to be approved by the government. Army&rsquo;s spokesperson Santosh Ballav Poudel says that the construction has not been able to gain pace due to coronavirus pandemic.</span></span></span></span></p>

<p>&nbsp;</p>
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			'id' => '12801',
			'article_category_id' => '1',
			'title' => 'Nepal Makes Marginal Progress in HDI',
			'sub_title' => '',
			'summary' => 'December 14: Nepal has made minimal progress in Human Development Index, according to the Human  Development Report 2020 prepared by the United Nations Development Programme.',
			'content' => '<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;">December 14: Nepal has made minimal progress in Human Development Index, according to the Human&nbsp; Development Report 2020 prepared by the United Nations Development Programme.</span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;">The report says Nepal still has to make some improvements upgrade its status as a developing nation.</span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;">The report unveiled by the UNDP on Sunday (December 13) states that Nepal has made some progress in HDI during 2019. According to the report, Nepal improved its ranking in the HDI by one step.</span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;">Nepal currently lies in the mid-category among countries in terms of human development and needs to fulfill two criteria to upgrade its status from least developed country to developing country by 2022. The country needs to meet the requirement of per capital income, human capital index and financial risk index to upgrade its status. Except the per capital income, Nepal is likely to fulfill all other criteria by 2022.</span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;">The report unveiled jointly by Finance Minister Bishnu Poudel and Vice Chairman of the National Planning Commission Dr Pushpa Raj Kandel states that Nepal&rsquo;s HDI Value during 2019 was 0.587. The HDI Value of Nepal in 2018 was 0.579.</span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;">Compared to 2018, Nepal made progress in education standard in 2019 although the average income and average age of Nepalis remained constant. This factor contributed in a marginal rise in Nepal&rsquo;s HDI. Nepal&rsquo; cannot progress into a developing nation unless there is improvement in per capita income.</span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;">According to the Human Development Report 2020, the average age of Nepalis is 70.5 years. Nepal is ahead of Pakistan and Afghanistan in South Asia in terms of HDI.</span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;">The report also states that there is a stark difference in human development among urban areas and rural areas 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:&quot;Arial Unicode MS&quot;">The report points out to infrastructural and institutional hurdles, policies adopted by the country and other factors as major challenges for human development of Nepal. It suggests improving the standard of health and education as well as people&rsquo;s reach to health facilities and educational institutions.</span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;">&ldquo;Lack of sufficient health infrastructure and disruption in medical supplies pose further risk to people fighting against various diseases,&rdquo; states the report adding, &ldquo;Hundreds of thousands of students have been deprived of studying opportunity due to closure of schools.&rdquo;</span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;">The report also suggests short-term, medium-term and long-term relief packages and economic revitalization of the country. Unveiling the report, Finance Minister Poudel said that the government will take into consideration the suggestions given by the report.</span></span></span></span></p>

<p>&nbsp;</p>

<p>&nbsp;</p>
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			'title' => 'Sugarcane Farmers Warn of Hunger Strike ',
			'sub_title' => '',
			'summary' => 'December 17: Sugarcane farmers, who have been protesting in Kathmandu since four days to recover their due payment from sugar mills, have now warned to go on a hunger strike if they do not receive their payment.',
			'content' => '<p><span style="font-size:11pt"><span style="font-family:Calibri"><span style="font-size:14.0pt"><span style="font-family:&quot;Times New Roman&quot;">December 17: Sugarcane farmers, who have been protesting in Kathmandu since four days to recover their due payment from sugar mills, have now warned to go on a hunger strike if they do not receive their payment. According to Hari Shyam Raya, secretary of the Sugarcane Farmers&#39; Struggle Committee, Sarlahi, the government should have fulfilled its five-point commitment made with the farmers last year. However, he said that the government was not serious about it and was taking a different path. </span></span></span></span></p>

<p><span style="font-size:11pt"><span style="font-family:Calibri"><span style="font-size:14.0pt"><span style="font-family:&quot;Times New Roman&quot;">He further says that they are not hopeful of getting money by arresting the operators of the sugar mills. &ldquo;If we don&rsquo;t get the money within a week, we will go on a relay hunger strike,&rdquo; he said. Last year on January 3, the sugar mill owners had made a five-point agreement with the farmers in the presence of the government and agreed to pay the entire amount by January 21, 2020. This time, the farmers are thinking of returning only after receiving their money. Farmers from other districts are increasingly coming to Kathmandu to support the protest. </span></span></span></span></p>

<p><span style="font-size:11pt"><span style="font-family:Calibri"><span style="font-size:14.0pt"><span style="font-family:&quot;Times New Roman&quot;">When the sugarcane farmers of Sarlahi started protesting at Maitighar on Sunday, only about 100 people had participated. Sugarcane farmers from Nawalparasi, Bara, Parsa, Rautahat and Saptari have also arrived in Kathmandu on Wednesday. As of Wednesday, the number of protesting farmers has reached 500. The committee stated that they will gather 1,000 farmers within a week. </span></span></span></span></p>

<p><span style="font-size:11pt"><span style="font-family:Calibri"><span style="font-size:14.0pt"><span style="font-family:&quot;Times New Roman&quot;">Even though the government has invited the sugarcane farmers for talks, they refused to sit for talks until they receive their money. Ram Raya, president of the committee said that as their main demand is to receive their due money, they will not return until they get the payment. Furthermore, he urged the government not to consider their protest as weak, as the locals of Kathmandu are also supporting their demonstration. </span></span></span></span></p>

<p>&nbsp;</p>
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			'title' => 'Deposit Collection, Flow of Loans Improving: NBA',
			'sub_title' => '',
			'summary' => 'December 16: Deposit collection of commercial banks has improved in the past one month. The flow of loan has also increased, according to Nepal Bankers Association (NBA).',
			'content' => '<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;">December 16: Deposit collection of commercial banks has improved in the past one month. The flow of loan has also increased, according to Nepal Bankers Association (NBA).</span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;">The association informed that the deposit collection of 27 commercial banks increased by Rs 46 billion in the month of Mangsir (mid-November to mid-December). The total deposits of the commercial bank currently stands at Rs 3,694 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:&quot;Arial Unicode MS&quot;">Deposit collection in the month of Kartik (mid-October to mid-November) was in deficit by Rs 6 billion. Banks have recently lowered the interest on deposits after lowering the rate of interest on loans. Experts believe that deposit collection might have become negative due to the lowering of interest rate. </span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;">However, chairman of Nepal Bankers Association Bhuvan Kumar Dahal says it is not because of the low interest rate that the deposit collection slumped. He says the negative deposit collection is a result of decline in remittance and increase in imports.</span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;">&ldquo;The rate of inflation is still hovering around 4 percent at present. The rate of interest that the banks provide to savings accounts should be similar to the rate of inflation. Most of the banks have fixed the interest rate for general savings account at more than 4 percent. Some even provide 5 percent interest,&rdquo; said Dahal.</span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;">The association informed that both deposit collection and flow of loans have improved in 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:&quot;Arial Unicode MS&quot;">The flow of loan in the month of Mangsir has reached Rs 49 billion while the total loans given out by the banks stands at Rs 3101 billion, informed Dahal. This is an increase compared to the previous month.</span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;">The flow of loan in the month of Kartik (mid-October to mid-November) was Rs 17 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:&quot;Arial Unicode MS&quot;">Chairman Dahal says that financial activities have increased after Tihar festival. He says that the banks&rsquo; customers are increasingly opening Letter of Credit (LC) while the transactions are also increasing.</span></span></span></span></p>

<p>&nbsp;</p>
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	(int) 2 => array(
		'Article' => array(
			'id' => '12817',
			'article_category_id' => '1',
			'title' => 'Detailed Study Report of 4 Major Projects Submitted to IBN',
			'sub_title' => '',
			'summary' => 'December 17: Developers of four major infrastructure projects facilitated by the Investment Board of Nepal (IBN) have submitted a detailed study report of the projects to the board.',
			'content' => '<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:Helvetica">December 17: Developers of four major infrastructure projects facilitated by the Investment Board of Nepal (IBN) have submitted a detailed study report of the projects to the board.</span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:Helvetica">Private Freight Terminal and Bulk Handling Facilities to be constructed in Birgunj and Bhairahawa are among the four projects. Fash Freight Logistics and International Cargo Terminal and Infrastructure Private Limited is the developer of the projects and has already submitted the detailed feasibility study report on Tuesday, December 15.</span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:Helvetica">For the project, an agreement was reached between the Investment Board and the developer company on December 1, 2019.&nbsp;</span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:Helvetica">Similarly, CG Logistics Pvt Ltd and Sarraf Group, the developer of the multi-model logistics park project to be constructed in Biratnagar, have also submitted the their reports. An agreement in this regard was reached between the board and the developing company on 17 June, 2019.</span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:Helvetica">Likewise, Damak Clean Industrial Park has submitted its report on Monday, December 14, on behalf of the developer for the construction of China-Nepal Friendship Industrial Park project.&nbsp;</span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:Helvetica">The 39th meeting of the Investment Board held on 2 July 2019 had approved an investment of USD 58.61 million for the construction of the project. The project will be constructed in Damak, Jhapa with the joint investment of Lhasa Economic and Technology Development Zone, Ching Ping Joint Creation Construction Project Development Company and Damak Clean Industrial Park.</span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:Helvetica">Also, the developer company Muktinath Darshan Pvt Ltd has submitted its report on November 29, 2020, for the construction of the Birethanti-Muktinath cable car. The proposed 80.16 km long cable car will reach Muktinath via Birethanti, Ghorepani, Tatopani, Lete, Kowang, Tukuche, Marfa, and Jomsom.</span></span></span></span></p>

<p>&nbsp;</p>
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		'Article' => array(
			'id' => '12814',
			'article_category_id' => '237',
			'title' => 'Nokia Launches C1 Plus with Face Unlock',
			'sub_title' => '',
			'summary' => 'December 16: Building on the success of the previous C-series phones, HMD Global, a marketing company, announced a new addition to the Nokia series phones. ',
			'content' => '<p><span style="font-size:11pt"><span style="font-family:Calibri"><span style="font-size:14.0pt">December 16:</span><span style="font-size:14.0pt"> Building on the success of the previous C-series phones, HMD Global, a marketing company, announced a new addition to the Nokia series phones. According to the company, the new Nokia C1 Plus is the lowest cost 3G+ 4G smartphone available in the market. </span></span></span></p>

<p><span style="font-size:11pt"><span style="font-family:Calibri"><span style="font-size:14.0pt">The C-series mission is to bring affordable smartphone experiences to everyone, says a statement issued by the company. The Nokia C1 Plus, brings 4G connectivity to the introductory level of the C-series, offering wider experiences to even more users around the world. </span></span></span></p>

<p><span style="font-size:11pt"><span style="font-family:Calibri"><span style="font-size:14.0pt">&ldquo;With the Nokia </span><span style="font-size:14.0pt">C1 Plus</span><span style="font-size:14.0pt">, fans can enjoy sharp content throughout &ndash; energising selfies and videos, apps and texts that pop, and immersive entertainment delivered to you crisp and clean,&rdquo; said the statement. </span></span></span></p>

<p><span style="font-size:11pt"><span style="font-family:Calibri"><span style="font-size:14.0pt">The smartphone comes with a 2,500 mAh battery that gives power for a whole day. </span><span style="font-size:14.0pt">For added security and convenience, face unlock will give the access to everything at a glance</span><span style="font-size:14.0pt">. According to the company, the new series also has improved storage.</span></span></span></p>

<p><span style="font-size:12pt"><span style="font-family:&quot;Times New Roman&quot;"><span style="font-size:14.0pt"><span style="font-family:Calibri">The&nbsp;Nokia C1 Plus launched on December 15 in Nepal in 1GB+16BG storage variants are priced at Rs 8,399 and are available in blue and red colours.</span></span>&nbsp;</span></span></p>

<p>&nbsp;</p>

<p>&nbsp;</p>
',
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	(int) 4 => array(
		'Article' => array(
			'id' => '12813',
			'article_category_id' => '266',
			'title' => 'eSewa and Viber Ink Deal ',
			'sub_title' => 'Customers can now top-up talk time and send money through Viber',
			'summary' => 'December 16: eSewa, a digital payment service provider of Nepal, and popular messaging app, Rakuten Viber have joined hands to facilitate their customers, who can now top-up talk time and send money to contact numbers through Viber.',
			'content' => '<p><span style="font-size:11pt"><span style="font-family:Calibri">December 16: eSewa, a digital payment service provider of Nepal, and popular messaging app, Rakuten Viber have joined hands to facilitate their customers, who can now top-up talk time and send money to contact numbers through Viber.</span></span></p>

<p><span style="font-size:11pt"><span style="font-family:Calibri">With this partnership, Viber users in Nepal can seamlessly link their eSewa account to top up talk time as well as send money to other users from within the Viber App. </span></span></p>

<p><span style="font-size:11pt"><span style="font-family:Calibri">According to eSwea, this partnership is the first of its kind in the Asia Pacific Region. eSewa claimed that it has become only the third company to partner with Viber for payment services after Apple and Google. This feature is available to all the Viber users in Nepal, says a statement issued by eSewa.</span></span></p>

<p><span style="font-size:11pt"><span style="font-family:Calibri">As an introductory offer, users can enjoy a&nbsp; 10 percent or maximum of Rs 100 cashback on recharge and five percent or maximum Rs 50 on fund transfer, added the statement. </span></span></p>

<p><span style="font-size:11pt"><span style="font-family:Calibri">&ldquo;Besides that, on weekly basis, customers will get a chance to win attractive gifts/vouchers and as a bumper price, one lucky customer will win a laptop.&rdquo;</span></span></p>

<p><span style="font-size:11pt"><span style="font-family:Calibri">Roshan Lamichhane, Chief Operating Officer of eSewa says this is a breakthrough in digital payments in Nepal and it will bring a new dimension to digital payments in the country. &ldquo;We will continue to innovate and make financial transactions simple, secure, and affordable,&rdquo; he said</span></span></p>

<p><span style="font-size:11pt"><span style="font-family:Calibri">Similarly, Anna Znamenskaya, Chief Growth Officer, Rakuten Viber said, &ldquo;We have always envisioned Viber to be a lifetime app that is of maximum benefit to its users. One of the ways to make this happen is to ensure that our users have access to a secure alternative platform to make their financial transactions such as top-ups and fund transfer as convenient as possible.&rdquo;</span></span></p>

<p>&nbsp;</p>

<p>&nbsp;</p>

<p>&nbsp;</p>

<p>&nbsp;</p>
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		'Article' => array(
			'id' => '12811',
			'article_category_id' => '1',
			'title' => 'Large Sum of Project Money is Taken by Foreign Consultants',
			'sub_title' => '',
			'summary' => 'December 16: The Department of Roads has been hiring consultants for detailed study despite having 27 technical experts at its disposal working in the department’s Project Directorate Office.',
			'content' => '<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;">December 16: The Department of Roads has been hiring consultants for detailed study despite having 27 technical experts at its disposal working in the department&rsquo;s Project Directorate Office.</span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;">The department has to spend excessive amount of budget for acquiring the services of consultants.</span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;">According to the 57<sup>th</sup> report of the Office of the Financial&nbsp; Comptroller General, the total budget of four projects under the department which are being supported by the Asian Development Bank&nbsp; is US$ 273.1 million. Out of the total budget, the cost of hiring consultants alone is US$ 22.6 million which is 8.4 percent in average of the total amount.</span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;">The report further states that the department has so far appointed seven consultants and prepared project designs and cost estimates of the four projects. Besides that, the department has also been monitoring the work progress and quality control in addition to validating the bills presented by the construction companies.</span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;">The department admits weaknesses and flaws in its feasibility studies, detailed survey and designs at the division offices under the department due to limited number of human resources.</span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;">The report of the Financial Comptroller General&rsquo;s Office has pointed out the flaws in budget spent on road projects, birdges and other infrastructures as well as arrears and budget transfer and consultant service charge. The report has suggested the government to reduce the dependence on foreign consultancy service and to develop skilled manpower within 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:&quot;Arial Unicode MS&quot;">However, the first quarter report of the department states that the human resources at the department is currently not sufficient to conduct surveys and feasibility studies. </span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;">The department&rsquo;s internal report also states that the lack of budget ceiling while announcing the budget for different contracts has forced them to transfer budget from one heading to another.</span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;">The department claimed that it has been spending money on consultancy charge as per the existing laws. </span></span></span></span></p>

<p>&nbsp;</p>
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		'Article' => array(
			'id' => '12810',
			'article_category_id' => '1',
			'title' => 'Arresting Defaulting Sugar Mill Owners is not the Solution to the Problem: Sugarcane Farmers',
			'sub_title' => '',
			'summary' => 'December 16: The agitating sugarcane farmers who have arrived in the capital seeking government support for the release of their due payment from sugar factories have said  arresting the factory owners will not resolve their payment issue.',
			'content' => '<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;">December 16: The agitating sugarcane farmers who have arrived in the capital seeking government support for the release of their due payment from sugar factories have said&nbsp; arresting the factory owners will not resolve their payment 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:&quot;Arial Unicode MS&quot;">The remarks come after the Ministry of Home Affairs on Tuesday (December 16) directed the concerned district administration office to arrest the owners of four sugar mills that have defaulted in paying the farmers. </span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;">Secretary of Sugarcane Farmers Struggle Committee, Sarlahi, Hari Shyam Raya said that the arrests of sugar factory owners is not a matter of their concern. </span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;">&ldquo;We will not get our money just because the government arrests the sugar factory owners. Therefore, the government must facilitate on compelling them to pay our due amounts instead of arresting them,&rdquo; said Raya. </span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;">The sugarcane farmers of Sarlahi have been protesting at Maitighar Mandala in the capital since the last three days demanding the release of their long-standing dues from the sugar factories.</span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;">On the third day of the demonstration, the government issued arrest warrants against the operators of Indira Sugar Mill, Nawalparasi, Lumbini Sugar Mill, Nawalparasi, Annapurna Sugar Mill, Sarlahi and Shree Ram Sugar Mill, Rautahat for not paying the farmers.</span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;">The farmers argue that even though the police arrest the operators, they get released on bail soon while the issue of payment remains where it is. Therefore, chairman of the struggle committee Ram Raya says arresting the operators is not a solution to the problem because the main issue is related to their due amount. &nbsp;</span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;">Spokesperson at the home ministry Chakra Bahadur Budha admits arresting the sugar mill owners alone is not the solution but he assured that the defaulters would face strict action. He however did not specify what kind of action the ministry would take. According to Budha, the ministry has directed concerned authorities to arrest the defaulters and take necessary actions.</span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;">Meanwhile, the agitating farmers have intensified their protest saying that if the issue is not resolved soon they will demand interest on their due amount of Rs 900 million which the sugar mills are yet to pay. Around 300 sugarcane farmers were present during Tuesday&rsquo;s protest.</span></span></span></span></p>

<p>&nbsp;</p>
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		'Article' => array(
			'id' => '12809',
			'article_category_id' => '1',
			'title' => 'New Ordinance Further Divides the Ruling Party',
			'sub_title' => '',
			'summary' => 'December 16: The internal dispute within the ruling Nepal Communist Party has taken a new twist. ',
			'content' => '<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;">December 16: The internal dispute within the ruling Nepal Communist Party has taken a new twist. The internal rift has further widened after Prime Minister KP Oli issued a new ordinance related to the Constitutional Council without consulting with the party leaders and cabinet ministers. </span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;">President Bidya Devi Bhandari on Tuesday (December 15) issued the an ordinance to amend the Constitutional Council Act 2066 upon the recommendation of the prime minister.</span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;">The new ordinance has a provision that allows at least three members of the council including the prime minister to take vital decisions. Prior to this, there was a requirement for at least four members and the chairman&rsquo;s to endorse the decisions. </span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;">Tuesday&rsquo;s meeting took place despite the absence of main opposition party leader Sher Bahadur Deuba and lower house speaker Agni Sapkota. The meeting discussed about appointments to fill the vacant posts at various constitutional bodies but did not take any decision.</span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;">The constitutional council chaired by the prime minister has parliament speaker, upper house chairman, main opposition party leader, chief justice and deputy speaker as members.</span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;">The prime minister&rsquo;s decision to issue the ordinance at a time when he has been facing mounting criticism from the party&rsquo;s secretariat and standing committee members for the unilateral decisions he has been taking has further worsened the crisis within the party.</span></span></span></span></p>

<p>&nbsp;</p>
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		'Article' => array(
			'id' => '12808',
			'article_category_id' => '1',
			'title' => 'Covid-19 Insurance Claim Amount Exceeds Premium Collection',
			'sub_title' => '',
			'summary' => 'December 15: The insurance claim amount for Covid-19 Insurance Policy has exceeded the insurance premium.',
			'content' => '<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;">December 15: The insurance claim amount for Covid-19 Insurance Policy has exceeded the insurance premium. Of late, the number of people purchasing the Covid-19 insurance policy is getting less while the number of people claiming settlement amount has been increasing. </span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;">Non-life insurance companies have expedited the process of claim settlement as per the government&rsquo;s directive. As a result, the number of claims settlements has increased significantly.</span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;">According to the data provided by Nepal Insurers Association, so far the insurance companies have collected insurance premium worth Rs 990 million. The association informed that the insurance companies have already settled claims by compensating the claimants with Rs 1.29 billion rupees. Altogether 10,565 persons have claimed the amount, according to the association.</span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;">&ldquo;The collection of insurance premium has declined due to news regarding the delay in claims settlement. However, the claimants are increasing day by day,&rdquo; said Chankey Chhetri, spokesperson of Nepal Insurers Association.</span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;">According to the association, they are yet to compensate the claimants with billions of rupees. Data maintained by the association show that more than Rs 3 billion is due for compensating 31,236 beneficiaries who had purchased the insurance 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:&quot;Arial Unicode MS&quot;">The insurance companies say that they have expedited the process of claims settlement following instructions from the Ministry of Finance.</span></span></span></span></p>
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			'sortorder' => '12555',
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			'article_date' => '2020-12-15 16:29:11',
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	(int) 9 => array(
		'Article' => array(
			'id' => '12807',
			'article_category_id' => '1',
			'title' => 'Concept of Mixing 10 Percent Ethanol in Petrol Fails to Materialize',
			'sub_title' => '',
			'summary' => 'December 15: The government’s plan to distribute petrol by mixing 10 percent ethanol has failed to materialize.',
			'content' => '<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;">December 15: The government&rsquo;s plan to distribute petrol by mixing 10 percent ethanol has failed to materialize. The concept was developed to reduce the cost factor, but the government has not taken any steps towards meeting the objective. It has been stated that the government is reluctant to take the initiative because the cost of petrol is not excessively high 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:&quot;Arial Unicode MS&quot;">The government had decided to mix 10 percent ethanol in petrol about 17 years ago. Nepal Oil Corporation made necessary preparations to implement the decision in 2014. However, the state-owned oil corporation said that the issue did not get priority due to problems in implementing the decision.</span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;">The concept was also developed to promote domestic industries that produce ethanol. The plan if implemented would also promote eco-friendly fuel and decrease the country&rsquo;s dependency on import of petroleum products. But the NOC has not taken any steps towards implementing the decision, informed Binit Mani Upadhyay, spokesperson of NOC.</span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;">&ldquo;We are currently busy storing petroleum products. Our focus is also on petroleum pipeline. However, we do not have any immediate plans to mix ethanol in petrol,&rdquo; said Upadhyay.</span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;">&ldquo;NOC did not put this concept in priority after it was found that the plan would not be much cost effective practically,&rdquo; he added. </span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;">Nepal imports petroleum products worth billions of rupees every year. The government developed the concept to mix ethanol in petrol to reduce the cost. At that time, the government had conceptualized to use the ethanol produced by the local sugar mills of the country. However, the sugar mills were not able to supply adequate amount of ethanol and the cost of transporting ethanol was not as cheap as expected. Therefore, the concept did not get any priority, said Upadhyay.</span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;">&ldquo;We had even set up a facility to store ethanol in Amlekhgunj. But later it was found that mixing ethanol would not reduce the cost factor and therefore it never fell in our priority list.&rdquo;</span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;">Petrol is currently being imported at the rate of Rs 45 to Rs 50 per litre. The retail cost is high only because of taxes under different headings. Adding ethanol would make no difference to the cost factor, informed Upadhyay.</span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;">Countries like India, Canada, Brazil, the USA and some African as well as Asian countries have already started selling petrol by mixing ethanol. </span></span></span></span></p>

<p>&nbsp;</p>
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		'Article' => array(
			'id' => '12806',
			'article_category_id' => '1',
			'title' => 'Export to China Halted since a Year ',
			'sub_title' => '',
			'summary' => 'December 15: Export of Nepali goods to China have been halted for the past one year due to the closure of border by China.',
			'content' => '<p><span style="font-size:11pt"><span style="font-family:Calibri"><span style="font-size:14.0pt"><span style="font-family:&quot;Times New Roman&quot;">December 15: Export of Nepali goods to China have been halted for the past one year due to the closure of border by China. Businessmen say that the export from the northern border points of Nepal has been completely stopped even though some goods are exported to China through chartered planes and via Indian ports. </span></span></span></span></p>

<p><span style="font-size:11pt"><span style="font-family:Calibri"><span style="font-size:14.0pt"><span style="font-family:&quot;Times New Roman&quot;">Nepal exports materials like handicrafts, carpets and other products to China. Last year, after the emergence of Covid-19 cases in China, the Nepali side had themselves stopped the trade through the border. </span></span></span></span></p>

<p><span style="font-size:11pt"><span style="font-family:Calibri"><span style="font-size:14.0pt"><span style="font-family:&quot;Times New Roman&quot;">As the coronavirus spread globally, China closed the border. Since then, the border has not been opened although the businessmen have repeatedly urged the government to take initiative to open the checkpoint. As per the agreement reached between Nepal-China commerce secretaries in last May, the import has been partially opened but the export is still closed. </span></span></span></span></p>

<p><span style="font-size:11pt"><span style="font-family:Calibri"><span style="font-size:14.0pt"><span style="font-family:&quot;Times New Roman&quot;">&nbsp;At present, the Chinese side is delivering a maximum of five containers of goods to the border daily, while Nepali containers are strictly prohibited from crossing the border. President of Nepal Himalayan Cross-Border Trade Association, Bachchu Poudel said that Nepali products have not been able to find a market due to the closure of the border checkpoint and some businessmen are contemplating to give up their business. </span></span></span></span></p>

<p><span style="font-size:11pt"><span style="font-family:Calibri"><span style="font-size:14.0pt"><span style="font-family:&quot;Times New Roman&quot;">He said that although the association has urged the government to take initiative to open the border several times, there hasn&rsquo;t been any progress. He said, &ldquo;Currently, five containers are barely coming through the customs point from where 100 containers of goods used to be imported daily.&rdquo; </span></span></span></span></p>

<p><span style="font-size:11pt"><span style="font-family:Calibri"><span style="font-size:14.0pt"><span style="font-family:&quot;Times New Roman&quot;">Lepsang Sherpa, secretary of the association and a Nepal-China bilateral trader, said that they are looking for alternatives to the Chinese market. He said there were various problems in exporting goods to China even under normal circumstances. According to him, there is a problem in export due to the monopoly of Chinese traders. He said that only Chinese-licensed traders could supply goods and export could not meet the demand even though there is a market. </span></span></span></span></p>

<p>&nbsp;</p>
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	(int) 11 => array(
		'Article' => array(
			'id' => '12805',
			'article_category_id' => '1',
			'title' => 'Nepali Delegation to Visit B’desh to Finalize Fertilizer Import Deal ',
			'sub_title' => '',
			'summary' => 'December 15: A team from the Agriculture Inputs Company Limited is preparing to visit Bangladesh to finalize a deal to procure 50,000 metric tons of urea under G2G deal with the neighbouring country.',
			'content' => '<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;">December 15: A team from the Agriculture Inputs Company Limited is preparing to visit Bangladesh to finalize a deal to procure 50,000 metric tons of urea under G2G deal with the neighbouring 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:&quot;Arial Unicode MS&quot;">Spokesperson at the Ministry of Agriculture and Livestock Development Dr Hari Bahadur KC confirmed that the team representing the Agriculture Inputs Company Limited is preparing to leave for Bangladesh in this regard. According to Dr KC, the team will sign an agreement and also discuss other issues in Bangladesh.</span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;">&ldquo;We are currently in the process of acquiring visa. Our team will leave for Bangladesh by this Tuesday or Wednesday,&rdquo; said Netra Bhandari, director of the state-owned Agriculture Inputs Company Limited.</span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;">According to Director Bhandari, the team is scheduled to sign a deal on the next day upon landing in Bangladesh. The company will then open a Letter of Credit after the deal is finalized, informed Bhandari.</span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;">The chemical fertilizer will arrive at the border within 20 days after the company hands gives the green signal to bring the urea to the contractor selected through a global tender.</span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;">Bangladesh will release the fertilizer from Chatgaun Port while Zen Trade Company will transport the fertilizers to 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:&quot;Arial Unicode MS&quot;">Two companies &ndash; Shailung Enterprises and Honiko Multiple &ndash; that had been earlier awarded the contracts to import urea during the plantation season failed to bring the fertilizer on time citing coronavirus pandemic for the delay. After repeated failure to bring the fertilizer on time, the government decided to borrow urea from Bangladesh. However, Bangladesh declined to send the fertilizers in the last minute. The government then decided to sign an G2G deal with Bangladesh to import the fertilizer.</span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;">Shailung is still in the process of importing 25,000 metric tons of urea.</span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;">The Agriculture Inputs Company Limited informed that it has a stock of 22,000 metric tons of urea and 9,000 metric tons of potassium. The company is in the process of importing 30,000 metric tons of urea while it is currently distributing 20,000 metric tons of DAP.</span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;">Similarly, the Salt Trading Corporation has a stock of 16,000 metric tons of DAP and 18,000 metric tons of urea.</span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;">The company informed that the fertilizer from Bangladesh will be sufficient to meet the demand for the winter crop. </span></span></span></span></p>

<p>&nbsp;</p>
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	(int) 12 => array(
		'Article' => array(
			'id' => '12804',
			'article_category_id' => '1',
			'title' => 'Price of Gold Drops Marginally ',
			'sub_title' => '',
			'summary' => 'December 15: The price of gold has declined marginally on Tuesday (December 15). ',
			'content' => '<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;">December 15: </span></span><span style="font-size:14.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;">The price of gold has declined marginally on Tuesday (December 15). On Monday, the price of gold fell by Rs 100 per tola (11 grams approx.) while it dropped by the same margin on Tuesday.</span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;">According to the Federation of Nepalese Gold and&nbsp; Silver Dealers Association, fine gold is being sold for Rs 92,300 per 11 grams on Tuesday.</span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;">The price of silver remained stable on Tuesday. A day ago, the price of silver had dropped by Rs 200 per 11 grams. Silver is being traded for Rs 1200 per 11 grams on Tuesday.</span></span></span></span></p>

<p>&nbsp;</p>
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	(int) 13 => array(
		'Article' => array(
			'id' => '12802',
			'article_category_id' => '1',
			'title' => 'Covid-19 Pandemic Delays Construction of Kathmandu-Tarai Fast Track',
			'sub_title' => '',
			'summary' => 'December 14: The timeframe to start construction of tunnels and complex bridges along the Kathmandu-Tarai Fast Track has been further extended due to procedural delay.',
			'content' => '<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;">December 14: The timeframe to start construction of tunnels and complex bridges along the Kathmandu-Tarai Fast Track has been further extended due to procedural delay. The Nepalese Army, which has been handed over the contract to oversee the construction of the fast track, informed that the construction will begin within upcoming summer (May)&nbsp; till the end of current fiscal year. The army has stated procedural hassles for the delay in starting construction.</span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;">The army was earlier planning to start the construction from mid-December as per its holistic plan. </span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;">The army claimed that the impact of coronavirus and lockdown affected the project as they could not finalize national and international consultant companies the construction of tunnels and bridges. However, the army said it has already started evaluation for selecting international construction company for the construction of tunnels.</span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;">The selection will be completed within December. The Nepalese Army is preparing to sign an agreement with the foreign companies within the next three months after the selection is finalized.</span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;">The Nepalese Army has itself completed 88 percent of works to open the track of the 72.5 kilometer fast track.</span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;">The major works that are still pending include construction of three tunnels and 16 complex bridges.</span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;">The delay in work progress has also increased the cost of the project. A total of 17 kilometers of the fast track comprises of tunnels and bridges. These are the infrastructures where the maximum amount of budget is required.</span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;">The army has so far spent a budget of Rs 15.66 billion for the project. The total cost of the project is estimated to be 175 billion, according to the detailed project report.</span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;">The Nepalese Army was handed the responsibility of the fast track three years ago as per the decision taken by the Council of Ministers on May 4, 2017.</span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;">Although army has been carrying out the construction work, it took almost two years for the DPR to be approved by the government. Army&rsquo;s spokesperson Santosh Ballav Poudel says that the construction has not been able to gain pace due to coronavirus pandemic.</span></span></span></span></p>

<p>&nbsp;</p>
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		'Article' => array(
			'id' => '12801',
			'article_category_id' => '1',
			'title' => 'Nepal Makes Marginal Progress in HDI',
			'sub_title' => '',
			'summary' => 'December 14: Nepal has made minimal progress in Human Development Index, according to the Human  Development Report 2020 prepared by the United Nations Development Programme.',
			'content' => '<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;">December 14: Nepal has made minimal progress in Human Development Index, according to the Human&nbsp; Development Report 2020 prepared by the United Nations Development Programme.</span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;">The report says Nepal still has to make some improvements upgrade its status as a developing nation.</span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;">The report unveiled by the UNDP on Sunday (December 13) states that Nepal has made some progress in HDI during 2019. According to the report, Nepal improved its ranking in the HDI by one step.</span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;">Nepal currently lies in the mid-category among countries in terms of human development and needs to fulfill two criteria to upgrade its status from least developed country to developing country by 2022. The country needs to meet the requirement of per capital income, human capital index and financial risk index to upgrade its status. Except the per capital income, Nepal is likely to fulfill all other criteria by 2022.</span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;">The report unveiled jointly by Finance Minister Bishnu Poudel and Vice Chairman of the National Planning Commission Dr Pushpa Raj Kandel states that Nepal&rsquo;s HDI Value during 2019 was 0.587. The HDI Value of Nepal in 2018 was 0.579.</span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;">Compared to 2018, Nepal made progress in education standard in 2019 although the average income and average age of Nepalis remained constant. This factor contributed in a marginal rise in Nepal&rsquo;s HDI. Nepal&rsquo; cannot progress into a developing nation unless there is improvement in per capita income.</span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;">According to the Human Development Report 2020, the average age of Nepalis is 70.5 years. Nepal is ahead of Pakistan and Afghanistan in South Asia in terms of HDI.</span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;">The report also states that there is a stark difference in human development among urban areas and rural areas 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:&quot;Arial Unicode MS&quot;">The report points out to infrastructural and institutional hurdles, policies adopted by the country and other factors as major challenges for human development of Nepal. It suggests improving the standard of health and education as well as people&rsquo;s reach to health facilities and educational institutions.</span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;">&ldquo;Lack of sufficient health infrastructure and disruption in medical supplies pose further risk to people fighting against various diseases,&rdquo; states the report adding, &ldquo;Hundreds of thousands of students have been deprived of studying opportunity due to closure of schools.&rdquo;</span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;">The report also suggests short-term, medium-term and long-term relief packages and economic revitalization of the country. Unveiling the report, Finance Minister Poudel said that the government will take into consideration the suggestions given by the report.</span></span></span></span></p>

<p>&nbsp;</p>

<p>&nbsp;</p>
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			'title' => 'Sugarcane Farmers Warn of Hunger Strike ',
			'sub_title' => '',
			'summary' => 'December 17: Sugarcane farmers, who have been protesting in Kathmandu since four days to recover their due payment from sugar mills, have now warned to go on a hunger strike if they do not receive their payment.',
			'content' => '<p><span style="font-size:11pt"><span style="font-family:Calibri"><span style="font-size:14.0pt"><span style="font-family:&quot;Times New Roman&quot;">December 17: Sugarcane farmers, who have been protesting in Kathmandu since four days to recover their due payment from sugar mills, have now warned to go on a hunger strike if they do not receive their payment. According to Hari Shyam Raya, secretary of the Sugarcane Farmers&#39; Struggle Committee, Sarlahi, the government should have fulfilled its five-point commitment made with the farmers last year. However, he said that the government was not serious about it and was taking a different path. </span></span></span></span></p>

<p><span style="font-size:11pt"><span style="font-family:Calibri"><span style="font-size:14.0pt"><span style="font-family:&quot;Times New Roman&quot;">He further says that they are not hopeful of getting money by arresting the operators of the sugar mills. &ldquo;If we don&rsquo;t get the money within a week, we will go on a relay hunger strike,&rdquo; he said. Last year on January 3, the sugar mill owners had made a five-point agreement with the farmers in the presence of the government and agreed to pay the entire amount by January 21, 2020. This time, the farmers are thinking of returning only after receiving their money. Farmers from other districts are increasingly coming to Kathmandu to support the protest. </span></span></span></span></p>

<p><span style="font-size:11pt"><span style="font-family:Calibri"><span style="font-size:14.0pt"><span style="font-family:&quot;Times New Roman&quot;">When the sugarcane farmers of Sarlahi started protesting at Maitighar on Sunday, only about 100 people had participated. Sugarcane farmers from Nawalparasi, Bara, Parsa, Rautahat and Saptari have also arrived in Kathmandu on Wednesday. As of Wednesday, the number of protesting farmers has reached 500. The committee stated that they will gather 1,000 farmers within a week. </span></span></span></span></p>

<p><span style="font-size:11pt"><span style="font-family:Calibri"><span style="font-size:14.0pt"><span style="font-family:&quot;Times New Roman&quot;">Even though the government has invited the sugarcane farmers for talks, they refused to sit for talks until they receive their money. Ram Raya, president of the committee said that as their main demand is to receive their due money, they will not return until they get the payment. Furthermore, he urged the government not to consider their protest as weak, as the locals of Kathmandu are also supporting their demonstration. </span></span></span></span></p>

<p>&nbsp;</p>
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			'title' => 'Deposit Collection, Flow of Loans Improving: NBA',
			'sub_title' => '',
			'summary' => 'December 16: Deposit collection of commercial banks has improved in the past one month. The flow of loan has also increased, according to Nepal Bankers Association (NBA).',
			'content' => '<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;">December 16: Deposit collection of commercial banks has improved in the past one month. The flow of loan has also increased, according to Nepal Bankers Association (NBA).</span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;">The association informed that the deposit collection of 27 commercial banks increased by Rs 46 billion in the month of Mangsir (mid-November to mid-December). The total deposits of the commercial bank currently stands at Rs 3,694 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:&quot;Arial Unicode MS&quot;">Deposit collection in the month of Kartik (mid-October to mid-November) was in deficit by Rs 6 billion. Banks have recently lowered the interest on deposits after lowering the rate of interest on loans. Experts believe that deposit collection might have become negative due to the lowering of interest rate. </span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;">However, chairman of Nepal Bankers Association Bhuvan Kumar Dahal says it is not because of the low interest rate that the deposit collection slumped. He says the negative deposit collection is a result of decline in remittance and increase in imports.</span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;">&ldquo;The rate of inflation is still hovering around 4 percent at present. The rate of interest that the banks provide to savings accounts should be similar to the rate of inflation. Most of the banks have fixed the interest rate for general savings account at more than 4 percent. Some even provide 5 percent interest,&rdquo; said Dahal.</span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;">The association informed that both deposit collection and flow of loans have improved in 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:&quot;Arial Unicode MS&quot;">The flow of loan in the month of Mangsir has reached Rs 49 billion while the total loans given out by the banks stands at Rs 3101 billion, informed Dahal. This is an increase compared to the previous month.</span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;">The flow of loan in the month of Kartik (mid-October to mid-November) was Rs 17 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:&quot;Arial Unicode MS&quot;">Chairman Dahal says that financial activities have increased after Tihar festival. He says that the banks&rsquo; customers are increasingly opening Letter of Credit (LC) while the transactions are also increasing.</span></span></span></span></p>

<p>&nbsp;</p>
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			'id' => '12817',
			'article_category_id' => '1',
			'title' => 'Detailed Study Report of 4 Major Projects Submitted to IBN',
			'sub_title' => '',
			'summary' => 'December 17: Developers of four major infrastructure projects facilitated by the Investment Board of Nepal (IBN) have submitted a detailed study report of the projects to the board.',
			'content' => '<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:Helvetica">December 17: Developers of four major infrastructure projects facilitated by the Investment Board of Nepal (IBN) have submitted a detailed study report of the projects to the board.</span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:Helvetica">Private Freight Terminal and Bulk Handling Facilities to be constructed in Birgunj and Bhairahawa are among the four projects. Fash Freight Logistics and International Cargo Terminal and Infrastructure Private Limited is the developer of the projects and has already submitted the detailed feasibility study report on Tuesday, December 15.</span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:Helvetica">For the project, an agreement was reached between the Investment Board and the developer company on December 1, 2019.&nbsp;</span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:Helvetica">Similarly, CG Logistics Pvt Ltd and Sarraf Group, the developer of the multi-model logistics park project to be constructed in Biratnagar, have also submitted the their reports. An agreement in this regard was reached between the board and the developing company on 17 June, 2019.</span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:Helvetica">Likewise, Damak Clean Industrial Park has submitted its report on Monday, December 14, on behalf of the developer for the construction of China-Nepal Friendship Industrial Park project.&nbsp;</span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:Helvetica">The 39th meeting of the Investment Board held on 2 July 2019 had approved an investment of USD 58.61 million for the construction of the project. The project will be constructed in Damak, Jhapa with the joint investment of Lhasa Economic and Technology Development Zone, Ching Ping Joint Creation Construction Project Development Company and Damak Clean Industrial Park.</span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:Helvetica">Also, the developer company Muktinath Darshan Pvt Ltd has submitted its report on November 29, 2020, for the construction of the Birethanti-Muktinath cable car. The proposed 80.16 km long cable car will reach Muktinath via Birethanti, Ghorepani, Tatopani, Lete, Kowang, Tukuche, Marfa, and Jomsom.</span></span></span></span></p>

<p>&nbsp;</p>
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			'id' => '12814',
			'article_category_id' => '237',
			'title' => 'Nokia Launches C1 Plus with Face Unlock',
			'sub_title' => '',
			'summary' => 'December 16: Building on the success of the previous C-series phones, HMD Global, a marketing company, announced a new addition to the Nokia series phones. ',
			'content' => '<p><span style="font-size:11pt"><span style="font-family:Calibri"><span style="font-size:14.0pt">December 16:</span><span style="font-size:14.0pt"> Building on the success of the previous C-series phones, HMD Global, a marketing company, announced a new addition to the Nokia series phones. According to the company, the new Nokia C1 Plus is the lowest cost 3G+ 4G smartphone available in the market. </span></span></span></p>

<p><span style="font-size:11pt"><span style="font-family:Calibri"><span style="font-size:14.0pt">The C-series mission is to bring affordable smartphone experiences to everyone, says a statement issued by the company. The Nokia C1 Plus, brings 4G connectivity to the introductory level of the C-series, offering wider experiences to even more users around the world. </span></span></span></p>

<p><span style="font-size:11pt"><span style="font-family:Calibri"><span style="font-size:14.0pt">&ldquo;With the Nokia </span><span style="font-size:14.0pt">C1 Plus</span><span style="font-size:14.0pt">, fans can enjoy sharp content throughout &ndash; energising selfies and videos, apps and texts that pop, and immersive entertainment delivered to you crisp and clean,&rdquo; said the statement. </span></span></span></p>

<p><span style="font-size:11pt"><span style="font-family:Calibri"><span style="font-size:14.0pt">The smartphone comes with a 2,500 mAh battery that gives power for a whole day. </span><span style="font-size:14.0pt">For added security and convenience, face unlock will give the access to everything at a glance</span><span style="font-size:14.0pt">. According to the company, the new series also has improved storage.</span></span></span></p>

<p><span style="font-size:12pt"><span style="font-family:&quot;Times New Roman&quot;"><span style="font-size:14.0pt"><span style="font-family:Calibri">The&nbsp;Nokia C1 Plus launched on December 15 in Nepal in 1GB+16BG storage variants are priced at Rs 8,399 and are available in blue and red colours.</span></span>&nbsp;</span></span></p>

<p>&nbsp;</p>

<p>&nbsp;</p>
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		'Article' => array(
			'id' => '12813',
			'article_category_id' => '266',
			'title' => 'eSewa and Viber Ink Deal ',
			'sub_title' => 'Customers can now top-up talk time and send money through Viber',
			'summary' => 'December 16: eSewa, a digital payment service provider of Nepal, and popular messaging app, Rakuten Viber have joined hands to facilitate their customers, who can now top-up talk time and send money to contact numbers through Viber.',
			'content' => '<p><span style="font-size:11pt"><span style="font-family:Calibri">December 16: eSewa, a digital payment service provider of Nepal, and popular messaging app, Rakuten Viber have joined hands to facilitate their customers, who can now top-up talk time and send money to contact numbers through Viber.</span></span></p>

<p><span style="font-size:11pt"><span style="font-family:Calibri">With this partnership, Viber users in Nepal can seamlessly link their eSewa account to top up talk time as well as send money to other users from within the Viber App. </span></span></p>

<p><span style="font-size:11pt"><span style="font-family:Calibri">According to eSwea, this partnership is the first of its kind in the Asia Pacific Region. eSewa claimed that it has become only the third company to partner with Viber for payment services after Apple and Google. This feature is available to all the Viber users in Nepal, says a statement issued by eSewa.</span></span></p>

<p><span style="font-size:11pt"><span style="font-family:Calibri">As an introductory offer, users can enjoy a&nbsp; 10 percent or maximum of Rs 100 cashback on recharge and five percent or maximum Rs 50 on fund transfer, added the statement. </span></span></p>

<p><span style="font-size:11pt"><span style="font-family:Calibri">&ldquo;Besides that, on weekly basis, customers will get a chance to win attractive gifts/vouchers and as a bumper price, one lucky customer will win a laptop.&rdquo;</span></span></p>

<p><span style="font-size:11pt"><span style="font-family:Calibri">Roshan Lamichhane, Chief Operating Officer of eSewa says this is a breakthrough in digital payments in Nepal and it will bring a new dimension to digital payments in the country. &ldquo;We will continue to innovate and make financial transactions simple, secure, and affordable,&rdquo; he said</span></span></p>

<p><span style="font-size:11pt"><span style="font-family:Calibri">Similarly, Anna Znamenskaya, Chief Growth Officer, Rakuten Viber said, &ldquo;We have always envisioned Viber to be a lifetime app that is of maximum benefit to its users. One of the ways to make this happen is to ensure that our users have access to a secure alternative platform to make their financial transactions such as top-ups and fund transfer as convenient as possible.&rdquo;</span></span></p>

<p>&nbsp;</p>

<p>&nbsp;</p>

<p>&nbsp;</p>

<p>&nbsp;</p>
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			'id' => '12811',
			'article_category_id' => '1',
			'title' => 'Large Sum of Project Money is Taken by Foreign Consultants',
			'sub_title' => '',
			'summary' => 'December 16: The Department of Roads has been hiring consultants for detailed study despite having 27 technical experts at its disposal working in the department’s Project Directorate Office.',
			'content' => '<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;">December 16: The Department of Roads has been hiring consultants for detailed study despite having 27 technical experts at its disposal working in the department&rsquo;s Project Directorate Office.</span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;">The department has to spend excessive amount of budget for acquiring the services of consultants.</span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;">According to the 57<sup>th</sup> report of the Office of the Financial&nbsp; Comptroller General, the total budget of four projects under the department which are being supported by the Asian Development Bank&nbsp; is US$ 273.1 million. Out of the total budget, the cost of hiring consultants alone is US$ 22.6 million which is 8.4 percent in average of the total amount.</span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;">The report further states that the department has so far appointed seven consultants and prepared project designs and cost estimates of the four projects. Besides that, the department has also been monitoring the work progress and quality control in addition to validating the bills presented by the construction companies.</span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;">The department admits weaknesses and flaws in its feasibility studies, detailed survey and designs at the division offices under the department due to limited number of human resources.</span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;">The report of the Financial Comptroller General&rsquo;s Office has pointed out the flaws in budget spent on road projects, birdges and other infrastructures as well as arrears and budget transfer and consultant service charge. The report has suggested the government to reduce the dependence on foreign consultancy service and to develop skilled manpower within 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:&quot;Arial Unicode MS&quot;">However, the first quarter report of the department states that the human resources at the department is currently not sufficient to conduct surveys and feasibility studies. </span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;">The department&rsquo;s internal report also states that the lack of budget ceiling while announcing the budget for different contracts has forced them to transfer budget from one heading to another.</span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;">The department claimed that it has been spending money on consultancy charge as per the existing laws. </span></span></span></span></p>

<p>&nbsp;</p>
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		'Article' => array(
			'id' => '12810',
			'article_category_id' => '1',
			'title' => 'Arresting Defaulting Sugar Mill Owners is not the Solution to the Problem: Sugarcane Farmers',
			'sub_title' => '',
			'summary' => 'December 16: The agitating sugarcane farmers who have arrived in the capital seeking government support for the release of their due payment from sugar factories have said  arresting the factory owners will not resolve their payment issue.',
			'content' => '<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;">December 16: The agitating sugarcane farmers who have arrived in the capital seeking government support for the release of their due payment from sugar factories have said&nbsp; arresting the factory owners will not resolve their payment 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:&quot;Arial Unicode MS&quot;">The remarks come after the Ministry of Home Affairs on Tuesday (December 16) directed the concerned district administration office to arrest the owners of four sugar mills that have defaulted in paying the farmers. </span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;">Secretary of Sugarcane Farmers Struggle Committee, Sarlahi, Hari Shyam Raya said that the arrests of sugar factory owners is not a matter of their concern. </span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;">&ldquo;We will not get our money just because the government arrests the sugar factory owners. Therefore, the government must facilitate on compelling them to pay our due amounts instead of arresting them,&rdquo; said Raya. </span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;">The sugarcane farmers of Sarlahi have been protesting at Maitighar Mandala in the capital since the last three days demanding the release of their long-standing dues from the sugar factories.</span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;">On the third day of the demonstration, the government issued arrest warrants against the operators of Indira Sugar Mill, Nawalparasi, Lumbini Sugar Mill, Nawalparasi, Annapurna Sugar Mill, Sarlahi and Shree Ram Sugar Mill, Rautahat for not paying the farmers.</span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;">The farmers argue that even though the police arrest the operators, they get released on bail soon while the issue of payment remains where it is. Therefore, chairman of the struggle committee Ram Raya says arresting the operators is not a solution to the problem because the main issue is related to their due amount. &nbsp;</span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;">Spokesperson at the home ministry Chakra Bahadur Budha admits arresting the sugar mill owners alone is not the solution but he assured that the defaulters would face strict action. He however did not specify what kind of action the ministry would take. According to Budha, the ministry has directed concerned authorities to arrest the defaulters and take necessary actions.</span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;">Meanwhile, the agitating farmers have intensified their protest saying that if the issue is not resolved soon they will demand interest on their due amount of Rs 900 million which the sugar mills are yet to pay. Around 300 sugarcane farmers were present during Tuesday&rsquo;s protest.</span></span></span></span></p>

<p>&nbsp;</p>
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	(int) 7 => array(
		'Article' => array(
			'id' => '12809',
			'article_category_id' => '1',
			'title' => 'New Ordinance Further Divides the Ruling Party',
			'sub_title' => '',
			'summary' => 'December 16: The internal dispute within the ruling Nepal Communist Party has taken a new twist. ',
			'content' => '<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;">December 16: The internal dispute within the ruling Nepal Communist Party has taken a new twist. The internal rift has further widened after Prime Minister KP Oli issued a new ordinance related to the Constitutional Council without consulting with the party leaders and cabinet ministers. </span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;">President Bidya Devi Bhandari on Tuesday (December 15) issued the an ordinance to amend the Constitutional Council Act 2066 upon the recommendation of the prime minister.</span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;">The new ordinance has a provision that allows at least three members of the council including the prime minister to take vital decisions. Prior to this, there was a requirement for at least four members and the chairman&rsquo;s to endorse the decisions. </span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;">Tuesday&rsquo;s meeting took place despite the absence of main opposition party leader Sher Bahadur Deuba and lower house speaker Agni Sapkota. The meeting discussed about appointments to fill the vacant posts at various constitutional bodies but did not take any decision.</span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;">The constitutional council chaired by the prime minister has parliament speaker, upper house chairman, main opposition party leader, chief justice and deputy speaker as members.</span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;">The prime minister&rsquo;s decision to issue the ordinance at a time when he has been facing mounting criticism from the party&rsquo;s secretariat and standing committee members for the unilateral decisions he has been taking has further worsened the crisis within the party.</span></span></span></span></p>

<p>&nbsp;</p>
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	(int) 8 => array(
		'Article' => array(
			'id' => '12808',
			'article_category_id' => '1',
			'title' => 'Covid-19 Insurance Claim Amount Exceeds Premium Collection',
			'sub_title' => '',
			'summary' => 'December 15: The insurance claim amount for Covid-19 Insurance Policy has exceeded the insurance premium.',
			'content' => '<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;">December 15: The insurance claim amount for Covid-19 Insurance Policy has exceeded the insurance premium. Of late, the number of people purchasing the Covid-19 insurance policy is getting less while the number of people claiming settlement amount has been increasing. </span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;">Non-life insurance companies have expedited the process of claim settlement as per the government&rsquo;s directive. As a result, the number of claims settlements has increased significantly.</span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;">According to the data provided by Nepal Insurers Association, so far the insurance companies have collected insurance premium worth Rs 990 million. The association informed that the insurance companies have already settled claims by compensating the claimants with Rs 1.29 billion rupees. Altogether 10,565 persons have claimed the amount, according to the association.</span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;">&ldquo;The collection of insurance premium has declined due to news regarding the delay in claims settlement. However, the claimants are increasing day by day,&rdquo; said Chankey Chhetri, spokesperson of Nepal Insurers Association.</span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;">According to the association, they are yet to compensate the claimants with billions of rupees. Data maintained by the association show that more than Rs 3 billion is due for compensating 31,236 beneficiaries who had purchased the insurance 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:&quot;Arial Unicode MS&quot;">The insurance companies say that they have expedited the process of claims settlement following instructions from the Ministry of Finance.</span></span></span></span></p>
',
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	(int) 9 => array(
		'Article' => array(
			'id' => '12807',
			'article_category_id' => '1',
			'title' => 'Concept of Mixing 10 Percent Ethanol in Petrol Fails to Materialize',
			'sub_title' => '',
			'summary' => 'December 15: The government’s plan to distribute petrol by mixing 10 percent ethanol has failed to materialize.',
			'content' => '<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;">December 15: The government&rsquo;s plan to distribute petrol by mixing 10 percent ethanol has failed to materialize. The concept was developed to reduce the cost factor, but the government has not taken any steps towards meeting the objective. It has been stated that the government is reluctant to take the initiative because the cost of petrol is not excessively high 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:&quot;Arial Unicode MS&quot;">The government had decided to mix 10 percent ethanol in petrol about 17 years ago. Nepal Oil Corporation made necessary preparations to implement the decision in 2014. However, the state-owned oil corporation said that the issue did not get priority due to problems in implementing the decision.</span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;">The concept was also developed to promote domestic industries that produce ethanol. The plan if implemented would also promote eco-friendly fuel and decrease the country&rsquo;s dependency on import of petroleum products. But the NOC has not taken any steps towards implementing the decision, informed Binit Mani Upadhyay, spokesperson of NOC.</span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;">&ldquo;We are currently busy storing petroleum products. Our focus is also on petroleum pipeline. However, we do not have any immediate plans to mix ethanol in petrol,&rdquo; said Upadhyay.</span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;">&ldquo;NOC did not put this concept in priority after it was found that the plan would not be much cost effective practically,&rdquo; he added. </span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;">Nepal imports petroleum products worth billions of rupees every year. The government developed the concept to mix ethanol in petrol to reduce the cost. At that time, the government had conceptualized to use the ethanol produced by the local sugar mills of the country. However, the sugar mills were not able to supply adequate amount of ethanol and the cost of transporting ethanol was not as cheap as expected. Therefore, the concept did not get any priority, said Upadhyay.</span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;">&ldquo;We had even set up a facility to store ethanol in Amlekhgunj. But later it was found that mixing ethanol would not reduce the cost factor and therefore it never fell in our priority list.&rdquo;</span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;">Petrol is currently being imported at the rate of Rs 45 to Rs 50 per litre. The retail cost is high only because of taxes under different headings. Adding ethanol would make no difference to the cost factor, informed Upadhyay.</span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;">Countries like India, Canada, Brazil, the USA and some African as well as Asian countries have already started selling petrol by mixing ethanol. </span></span></span></span></p>

<p>&nbsp;</p>
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	(int) 10 => array(
		'Article' => array(
			'id' => '12806',
			'article_category_id' => '1',
			'title' => 'Export to China Halted since a Year ',
			'sub_title' => '',
			'summary' => 'December 15: Export of Nepali goods to China have been halted for the past one year due to the closure of border by China.',
			'content' => '<p><span style="font-size:11pt"><span style="font-family:Calibri"><span style="font-size:14.0pt"><span style="font-family:&quot;Times New Roman&quot;">December 15: Export of Nepali goods to China have been halted for the past one year due to the closure of border by China. Businessmen say that the export from the northern border points of Nepal has been completely stopped even though some goods are exported to China through chartered planes and via Indian ports. </span></span></span></span></p>

<p><span style="font-size:11pt"><span style="font-family:Calibri"><span style="font-size:14.0pt"><span style="font-family:&quot;Times New Roman&quot;">Nepal exports materials like handicrafts, carpets and other products to China. Last year, after the emergence of Covid-19 cases in China, the Nepali side had themselves stopped the trade through the border. </span></span></span></span></p>

<p><span style="font-size:11pt"><span style="font-family:Calibri"><span style="font-size:14.0pt"><span style="font-family:&quot;Times New Roman&quot;">As the coronavirus spread globally, China closed the border. Since then, the border has not been opened although the businessmen have repeatedly urged the government to take initiative to open the checkpoint. As per the agreement reached between Nepal-China commerce secretaries in last May, the import has been partially opened but the export is still closed. </span></span></span></span></p>

<p><span style="font-size:11pt"><span style="font-family:Calibri"><span style="font-size:14.0pt"><span style="font-family:&quot;Times New Roman&quot;">&nbsp;At present, the Chinese side is delivering a maximum of five containers of goods to the border daily, while Nepali containers are strictly prohibited from crossing the border. President of Nepal Himalayan Cross-Border Trade Association, Bachchu Poudel said that Nepali products have not been able to find a market due to the closure of the border checkpoint and some businessmen are contemplating to give up their business. </span></span></span></span></p>

<p><span style="font-size:11pt"><span style="font-family:Calibri"><span style="font-size:14.0pt"><span style="font-family:&quot;Times New Roman&quot;">He said that although the association has urged the government to take initiative to open the border several times, there hasn&rsquo;t been any progress. He said, &ldquo;Currently, five containers are barely coming through the customs point from where 100 containers of goods used to be imported daily.&rdquo; </span></span></span></span></p>

<p><span style="font-size:11pt"><span style="font-family:Calibri"><span style="font-size:14.0pt"><span style="font-family:&quot;Times New Roman&quot;">Lepsang Sherpa, secretary of the association and a Nepal-China bilateral trader, said that they are looking for alternatives to the Chinese market. He said there were various problems in exporting goods to China even under normal circumstances. According to him, there is a problem in export due to the monopoly of Chinese traders. He said that only Chinese-licensed traders could supply goods and export could not meet the demand even though there is a market. </span></span></span></span></p>

<p>&nbsp;</p>
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	(int) 11 => array(
		'Article' => array(
			'id' => '12805',
			'article_category_id' => '1',
			'title' => 'Nepali Delegation to Visit B’desh to Finalize Fertilizer Import Deal ',
			'sub_title' => '',
			'summary' => 'December 15: A team from the Agriculture Inputs Company Limited is preparing to visit Bangladesh to finalize a deal to procure 50,000 metric tons of urea under G2G deal with the neighbouring country.',
			'content' => '<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;">December 15: A team from the Agriculture Inputs Company Limited is preparing to visit Bangladesh to finalize a deal to procure 50,000 metric tons of urea under G2G deal with the neighbouring 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:&quot;Arial Unicode MS&quot;">Spokesperson at the Ministry of Agriculture and Livestock Development Dr Hari Bahadur KC confirmed that the team representing the Agriculture Inputs Company Limited is preparing to leave for Bangladesh in this regard. According to Dr KC, the team will sign an agreement and also discuss other issues in Bangladesh.</span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;">&ldquo;We are currently in the process of acquiring visa. Our team will leave for Bangladesh by this Tuesday or Wednesday,&rdquo; said Netra Bhandari, director of the state-owned Agriculture Inputs Company Limited.</span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;">According to Director Bhandari, the team is scheduled to sign a deal on the next day upon landing in Bangladesh. The company will then open a Letter of Credit after the deal is finalized, informed Bhandari.</span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;">The chemical fertilizer will arrive at the border within 20 days after the company hands gives the green signal to bring the urea to the contractor selected through a global tender.</span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;">Bangladesh will release the fertilizer from Chatgaun Port while Zen Trade Company will transport the fertilizers to 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:&quot;Arial Unicode MS&quot;">Two companies &ndash; Shailung Enterprises and Honiko Multiple &ndash; that had been earlier awarded the contracts to import urea during the plantation season failed to bring the fertilizer on time citing coronavirus pandemic for the delay. After repeated failure to bring the fertilizer on time, the government decided to borrow urea from Bangladesh. However, Bangladesh declined to send the fertilizers in the last minute. The government then decided to sign an G2G deal with Bangladesh to import the fertilizer.</span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;">Shailung is still in the process of importing 25,000 metric tons of urea.</span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;">The Agriculture Inputs Company Limited informed that it has a stock of 22,000 metric tons of urea and 9,000 metric tons of potassium. The company is in the process of importing 30,000 metric tons of urea while it is currently distributing 20,000 metric tons of DAP.</span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;">Similarly, the Salt Trading Corporation has a stock of 16,000 metric tons of DAP and 18,000 metric tons of urea.</span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;">The company informed that the fertilizer from Bangladesh will be sufficient to meet the demand for the winter crop. </span></span></span></span></p>

<p>&nbsp;</p>
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	(int) 12 => array(
		'Article' => array(
			'id' => '12804',
			'article_category_id' => '1',
			'title' => 'Price of Gold Drops Marginally ',
			'sub_title' => '',
			'summary' => 'December 15: The price of gold has declined marginally on Tuesday (December 15). ',
			'content' => '<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;">December 15: </span></span><span style="font-size:14.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;">The price of gold has declined marginally on Tuesday (December 15). On Monday, the price of gold fell by Rs 100 per tola (11 grams approx.) while it dropped by the same margin on Tuesday.</span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;">According to the Federation of Nepalese Gold and&nbsp; Silver Dealers Association, fine gold is being sold for Rs 92,300 per 11 grams on Tuesday.</span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;">The price of silver remained stable on Tuesday. A day ago, the price of silver had dropped by Rs 200 per 11 grams. Silver is being traded for Rs 1200 per 11 grams on Tuesday.</span></span></span></span></p>

<p>&nbsp;</p>
',
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	(int) 13 => array(
		'Article' => array(
			'id' => '12802',
			'article_category_id' => '1',
			'title' => 'Covid-19 Pandemic Delays Construction of Kathmandu-Tarai Fast Track',
			'sub_title' => '',
			'summary' => 'December 14: The timeframe to start construction of tunnels and complex bridges along the Kathmandu-Tarai Fast Track has been further extended due to procedural delay.',
			'content' => '<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;">December 14: The timeframe to start construction of tunnels and complex bridges along the Kathmandu-Tarai Fast Track has been further extended due to procedural delay. The Nepalese Army, which has been handed over the contract to oversee the construction of the fast track, informed that the construction will begin within upcoming summer (May)&nbsp; till the end of current fiscal year. The army has stated procedural hassles for the delay in starting construction.</span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;">The army was earlier planning to start the construction from mid-December as per its holistic plan. </span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;">The army claimed that the impact of coronavirus and lockdown affected the project as they could not finalize national and international consultant companies the construction of tunnels and bridges. However, the army said it has already started evaluation for selecting international construction company for the construction of tunnels.</span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;">The selection will be completed within December. The Nepalese Army is preparing to sign an agreement with the foreign companies within the next three months after the selection is finalized.</span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;">The Nepalese Army has itself completed 88 percent of works to open the track of the 72.5 kilometer fast track.</span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;">The major works that are still pending include construction of three tunnels and 16 complex bridges.</span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;">The delay in work progress has also increased the cost of the project. A total of 17 kilometers of the fast track comprises of tunnels and bridges. These are the infrastructures where the maximum amount of budget is required.</span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;">The army has so far spent a budget of Rs 15.66 billion for the project. The total cost of the project is estimated to be 175 billion, according to the detailed project report.</span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;">The Nepalese Army was handed the responsibility of the fast track three years ago as per the decision taken by the Council of Ministers on May 4, 2017.</span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;">Although army has been carrying out the construction work, it took almost two years for the DPR to be approved by the government. Army&rsquo;s spokesperson Santosh Ballav Poudel says that the construction has not been able to gain pace due to coronavirus pandemic.</span></span></span></span></p>

<p>&nbsp;</p>
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			'title' => 'Nepal Makes Marginal Progress in HDI',
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			'summary' => 'December 14: Nepal has made minimal progress in Human Development Index, according to the Human  Development Report 2020 prepared by the United Nations Development Programme.',
			'content' => '<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;">December 14: Nepal has made minimal progress in Human Development Index, according to the Human&nbsp; Development Report 2020 prepared by the United Nations Development Programme.</span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;">The report says Nepal still has to make some improvements upgrade its status as a developing nation.</span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;">The report unveiled by the UNDP on Sunday (December 13) states that Nepal has made some progress in HDI during 2019. According to the report, Nepal improved its ranking in the HDI by one step.</span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;">Nepal currently lies in the mid-category among countries in terms of human development and needs to fulfill two criteria to upgrade its status from least developed country to developing country by 2022. The country needs to meet the requirement of per capital income, human capital index and financial risk index to upgrade its status. Except the per capital income, Nepal is likely to fulfill all other criteria by 2022.</span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;">The report unveiled jointly by Finance Minister Bishnu Poudel and Vice Chairman of the National Planning Commission Dr Pushpa Raj Kandel states that Nepal&rsquo;s HDI Value during 2019 was 0.587. The HDI Value of Nepal in 2018 was 0.579.</span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;">Compared to 2018, Nepal made progress in education standard in 2019 although the average income and average age of Nepalis remained constant. This factor contributed in a marginal rise in Nepal&rsquo;s HDI. Nepal&rsquo; cannot progress into a developing nation unless there is improvement in per capita income.</span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;">According to the Human Development Report 2020, the average age of Nepalis is 70.5 years. Nepal is ahead of Pakistan and Afghanistan in South Asia in terms of HDI.</span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;">The report also states that there is a stark difference in human development among urban areas and rural areas 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:&quot;Arial Unicode MS&quot;">The report points out to infrastructural and institutional hurdles, policies adopted by the country and other factors as major challenges for human development of Nepal. It suggests improving the standard of health and education as well as people&rsquo;s reach to health facilities and educational institutions.</span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;">&ldquo;Lack of sufficient health infrastructure and disruption in medical supplies pose further risk to people fighting against various diseases,&rdquo; states the report adding, &ldquo;Hundreds of thousands of students have been deprived of studying opportunity due to closure of schools.&rdquo;</span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;">The report also suggests short-term, medium-term and long-term relief packages and economic revitalization of the country. Unveiling the report, Finance Minister Poudel said that the government will take into consideration the suggestions given by the report.</span></span></span></span></p>

<p>&nbsp;</p>

<p>&nbsp;</p>
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FOREX

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)

Bullion

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

Petroleum

Petrol	1 Liter	106.00
Diesel	1 Liter	95.00
Kerosene	1 Liter	95.00
LP Gas	1 Cylinder	1375.00