Berger Paints Nepal announces winners of 'Berger Color Splash 2076’

Nov 24, 2020 0 1 minutes 44 seconds to read

November 24: Berger Paints Nepal, manufacturer of decorative paints in Nepal since 2000, has announced the winners of its consumer offer 'Berger Color…

NCHL Working to Ensure Inter-Bank Card Settlement under the National Payment Switch

Nov 24, 2020 0 3 minutes 35 seconds to read

November 24: Nepal Clearing House Limited (NCHL) has started initial phase of work for developing the National Payment Switch as per the understanding reached with the central bank in this…

Finance Minister warns of Action against Govt Staffers if they Fail to Meet Revenue Target

Nov 24, 2020 0 1 minutes 42 seconds to read

November 24: Finance minister Bishnu Prasad Poudel has warned government employees that they will be punished if they do not meet the revenue collection target mentioned in the budget statement of the current fiscal year.…

State-Owned Company to Extract Iron Using Locally Available Resources in Nawalparasi

Nov 24, 2020 0 4 minutes 14 seconds to read

November 24: The state-owned Dhaubadhi Iron Limited has finalized the technology for extracting iron from its Nawalparasi-based mine after it was deemed commercially viable to extract ore from the…

Sugar Mills Preparing to Sell Electricity from this Season

Nov 24, 2020 0 2 minutes 54 seconds to read

November 24: Three sugar mills are preparing to sell electricity to Nepal Electricity Authority this season.…

Nepal’s Bilateral Trade with China Shrinks by Rs 20 Billion

Nov 24, 2020 0 3 minutes 59 seconds to read

November 24: The government’s inability to fully operate Nepal’s customs points in the northern border is taking toll on trade between Nepal and China.…

Profit of Development Banks Shrinks by 25 Percent

Nov 23, 2020 0 1 minutes 55 seconds to read

November 23: The coronavirus pandemic has affected the entire banking sector of the country and has impacted the net profit of development…

Operation of Fair-Price Shops Extended till January 12

Nov 23, 2020 0 2 minutes 29 seconds to read

November 23: The state-owned Food Management and Trade Company Limited (FMTCL) has decided to operate fair-price shops till January…

Act Like Public Servants, not Administrators: Finance Minister

Nov 23, 2020 0 2 minutes 20 seconds to read

…

Nepali Exporters Shift the Focus to Soybean Oil

Nov 23, 2020 0 3 minutes 8 seconds to read

November 23: Nepali exporters have shifted their focus towards exporting refined soybean oil after India banned the import of palm oil more than six months…

Shah Deposes Rana as Highest Taxpayer of Nepal in Individual Category

Nov 23, 2020 0 3 minutes 26 seconds to read

November 23: Vijay Kumar Shah has dethroned Siddhartha Rana as the highest taxpayer of Nepal in individual…

Government Seeks Clarification on Fake Covid-19 Reports from 4 Private Hospitals

Nov 23, 2020 0 2 minutes 47 seconds to read

November 23: The government has sought clarifications from labs of four hospitals in Kathmandu on suspicion of certifying false PCR…

NRCS and Coca-Cola Nepal begin Second Phase of Distributing Health Equipment

Nov 22, 2020 0 3 minutes 20 seconds to read

November 22: Coca-Cola and Nepal Red Cross Society (NRCS) have commenced the second phase of handing over of safety gears and equipment to various hospitals and volunteers to enhance the safety of health workers, patients and volunteers working in the frontline against Covid-19…

Merger of Udayapur and Hetauda Cement Industries in Dilemma

Nov 22, 2020 0 2 minutes 41 seconds to read

November 22: The merger of Udayapur Cement Industries and Hetauda Cement has become uncertain as the two state owned companies have shown no interest in…

Xiaomi Bounces Back to ‘Number 1 Position’ in Smartphone Market of Nepal

Nov 22, 2020 0 2 minutes 12 seconds to read

November 22: Chinese smartphone brand Xiaomi announced that it has yet again become the number one smartphone brand in…

< previous574575576577578579580581582next >

No Laughing Matter

The Sweet Rewards of Power

By Madan Lamsal

. . .
read more »

NEPSE

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			'id' => '12711',
			'article_category_id' => '266',
			'title' => 'Berger Paints Nepal announces winners of 'Berger Color Splash 2076’',
			'sub_title' => '',
			'summary' => 'November 24: Berger Paints Nepal, manufacturer of decorative paints in Nepal since 2000, has announced the winners of its consumer offer 'Berger Color Splash'.',
			'content' => '<p><span style="font-size:18px"><span style="font-family:Calibri">November 24: Berger Paints Nepal, manufacturer of decorative paints in Nepal since 2000, has announced the winners of its consumer offer &#39;Berger Color Splash&#39;.</span></span></p>

<p><span style="font-size:18px"><span style="font-family:Calibri">The scheme was launched in the festive season of Dashain and Tihar 2076 where the customers purchasing selected Berger products won 100 sq ft of Silk Illusion Designers Finish as sure shot reward and also got chance to win exciting prizes through lucky draw and digital contest.</span></span></p>

<p><span style="font-size:18px"><span style="font-family:Calibri">The company said in a statement that 178 winners out of 6000+ participants were announced through a live lucky draw. </span></span></p>

<p><span style="font-size:18px"><span style="font-family:Calibri">According to the company, Jay Nath Sapkota of Biratnagar won the bumper prize of Rs 500,000.</span></span></p>

<p><span style="font-size:18px"><span style="font-family:Calibri">Similarly, Purna Man Gurung of Birtamode and Ramesh Shrestha of Kathmandu both won the first prize which includes a trip to London.</span></span></p>

<p><span style="font-size:18px"><span style="font-family:Calibri">Other 25 winners bagged 32&rdquo; Samsung Television as second prize, while 50 winners received domestic trip as third prize. The company said that 100 winners got Samsung M20 as consolation prize during the lucky draw.</span></span></p>

<p><span style="font-size:18px"><span style="font-family:Calibri">Among the winners from the Digital Contest, Durga Lammichanne and Suresh Lammichhane has won Rs 100,000 each in exterior category whereas Manoj Sitaula and Chanu Khadka Bhandari has won Rs 100,000 each in interior category as first prize. </span></span></p>

<p><span style="font-size:18px"><span style="font-family:Calibri">Aim Bahadur Basnet and Sarala Adhikari has won Rs 50,000 each in exterior category whereas Raju Lama and Hem Prasad Dhakal won Rs 50,000 each in interior category as second prize. Basanta Kumar Basnet and Lila Khadka has won Rs 25,000 in exterior category whereas, Ghadendra Rai and Dhan Bahadur Basnet won Rs 25,000 each in interior category as third prize. </span></span></p>

<p>&nbsp;</p>
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			'title' => 'NCHL Working to Ensure Inter-Bank Card Settlement under the National Payment Switch',
			'sub_title' => '',
			'summary' => 'November 24: Nepal Clearing House Limited (NCHL) has started initial phase of work for developing the National Payment Switch as per the understanding reached with the central bank in this regard.',
			'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;">November 24: Nepal Clearing House Limited (NCHL) has started initial phase of work for developing the National Payment Switch as per the understanding reached with the central bank in this regard.</span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;">NCHL informed that it is making necessary preparations for inter-bank card settlement in the first phase.</span></span></span></span></p>

<p><span 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 said that it is currently conducting study for developing the National Payment Switch but hasn&rsquo;t started technical works yet.</span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;">CEO of NCHL Nilesn Man Singh Pradhan informed New Business Age that they are currently studying the modus operandi of the national payment switches of neighbouring countries like India, Sri Lanka and 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;After the study is complete, we will develop a national payment switch which is best suited for Nepal considering the technological advancement of the country and the requirement of businesses and volume of transaction,&rdquo; said Pradhan.</span></span></span></span></p>

<p><span 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 don&rsquo;t have transactions as big as that of India. So we will use a system that is suitable for us,&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;">CEO Pradhan said that the project is one of the big projects of the country and cannot specifically say when it will be completed.</span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;">He argues that such switch is categorized under long-term projects in foreign countries. Pradhan added that they will first identify the components which they require urgently and work towards setting them up in phase-wise manner.</span></span></span></span></p>

<p><span 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;In the first phase, we will ensure inter-bank card settlement,&rdquo; said Pradhan.</span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;">At present, the central bank has instructed commercial banks not to charge customers for inter-bank ATM transaction. As Nepal does not have its own payment switch, the banks have been forced &nbsp;pay a minimum of Rs 12 for such transaction to foreign developers. BFIs have been paying hefty amount to international payment gateways like Visa and Master Card because the country lacks its own national payment gateway.</span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;">Banks of Nepal have been making payment for transactions through debit and credit cards by using payment switches of foreign countries.</span></span></span></span></p>

<p><span 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 country has been spending lots of money to foreign banks for the payments made through point of sales machines placed at shopping malls across 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;">In this context, a national payment switch is expected to reduce the cost of the banks to a great extent.</span></span></span></span></p>

<p>&nbsp;</p>
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			'id' => '12709',
			'article_category_id' => '1',
			'title' => 'Finance Minister warns of Action against Govt Staffers if they Fail to Meet Revenue Target ',
			'sub_title' => '',
			'summary' => 'November 24: Finance minister Bishnu Prasad Poudel has warned government  employees that they will be punished if they do not meet the revenue collection target mentioned in the budget statement of the current fiscal year. ',
			'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;">November 24: Finance minister Bishnu Prasad Poudel has warned government &nbsp;employees that they will be punished if they do not meet the revenue collection target mentioned in the budget statement of the current fiscal year. He also said that the employees who achieve the target will be rewarded. </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;">Speaking with the finance secretary, director general of Inland Revenue Department and customs department on Monday, he directed the officials to perform their work to meet the aim despite facing the challenges created by covid-19.&nbsp; </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;">Out of the target of 25 percent revenue collection in the first four months of the current fiscal year, the government was able to collect 24 percent revenue. According to the Ministry of Finance, Rs 240.15 billion revenue has been collected in the first four months. </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;">The finance minister gave such directive after failing to meet the revenue target in the first four months. Explaining that the employees should not be pressurized to work with fear and intimidation, he stressed on creating favorable working conditions with respect to qualifications and abilities.</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;&ldquo;The ministry provides support, facilitation and encouragement to solve difficulties and problems. If the goal is achieved, we respect it. If not, you should be punished,&rdquo; he said. </span></span></span></span></p>

<p>&nbsp;</p>

<p>&nbsp;</p>
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			'id' => '12708',
			'article_category_id' => '1',
			'title' => 'State-Owned Company to Extract Iron Using Locally Available Resources in Nawalparasi',
			'sub_title' => '',
			'summary' => 'November 24: The state-owned Dhaubadhi Iron Limited has finalized the technology for extracting iron from its Nawalparasi-based mine after it was deemed commercially viable to extract ore from the mine.',
			'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;">November 24: The state-owned Dhaubadhi Iron Limited has finalized the technology for extracting iron from its Nawalparasi-based mine after it was deemed commercially viable to extract ore from the mine.</span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;">A report prepared after sending samples of raw materials extracted from the mine to China for studying the prospects of commercial extraction has suggested using electric furnace for extracting&nbsp; iron.</span></span></span></span></p>

<p><span 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 suggested using electric furnace considering the utilization of electricity produced in the country. It is also possible to refine iron by using coal but it would incur additional cost to import coal. Therefore, the state-owned company is preparing to use electric furnace for extraction and refining of iron from the mine.</span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;">CEO of the company Krishna Dev Jha informed that China provided them the report about two weeks ago. Jha said that they will opt for electric furnace as per the recommendation of the 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;">&ldquo;We will utilize the resources available in the country and rely less on imported products for extracting iron,&rdquo; said Jha.</span></span></span></span></p>

<p><span 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 is preparing to start the drilling process within the next two weeks (by mid-December) as it has already received the report. It has already selected a consulting firm for the purpose from 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;">The consulting company will drill between 265 meters to 300 meters in five areas of Dhaubadhi and Pokhari where the mine is located. The quantity of iron which can be extracted from the mine will be ascertained after drilling.</span></span></span></span></p>

<p><span 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 company is also preparing to select international consultant company by issuing a public notice for conducting feasibility study and to prepare the detailed project report (DPR).</span></span></span></span></p>

<p><span 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 will begin commercial production of iron only after completing all of the above mentioned processes.</span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;">CEO Jha informed that the company is preparing to set up a steel plant in Kawasoti of Nawalparasi district. They have already started acquiring 150 bigha land for setting up the factory, according to Jha.</span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;">He further informed that 1,500 metric tons of iron can be produced on a daily basis after the company starts production.</span></span></span></span></p>

<p><span 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 the government had been announcing financial support for the mine since the last few years, it could not be implemented as the report was yet to arrive from China.</span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;">The company has received Rs 250 million during the last fiscal&nbsp; year while the government has allocated Rs 1.5 billion this year.</span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;">The federal government has been looking after the financial matters of the company which has been set up with a total capital of Rs 10 billion. The private sector has 45 percent stakes at the company.</span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;">The company was set up in public private partnership model after the government on August 20 decided to open a company specifically for extraction of mines.</span></span></span></span></p>

<p>&nbsp;</p>
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			'id' => '12707',
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			'title' => 'Sugar Mills Preparing to Sell Electricity from this Season',
			'sub_title' => '',
			'summary' => 'November 24: Three sugar mills are preparing to sell electricity to Nepal Electricity Authority this season. ',
			'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;">November 24: Three sugar mills are preparing to sell electricity to Nepal Electricity Authority this season. Everest Sugar Mills of Mahottari, Indu Shankar Sugar Mills of Sarlahi and Reliance Sugar Mills of Bara are making necessary preparations to sell the electricity that they produce themselves from the waste product of sugarcane. </span></span></span></span></p>

<p><span 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 of Nepal Sugar Producers Association Sashikanta Agrawal said that they are preparing to sell electricity from this winter season when the government faces shortage of electricity.</span></span></span></span></p>

<p><span 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 sugar mills are planning to sell 7 megawatts of electricity this season. Agrawal says that they are in the final phase of preparation for selling the electricity which they produce from biomass. </span></span></span></span></p>

<p><span 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 have already made preparations to connect the transmission line from the mills to the nearest sub-station,&rdquo; said Agrawal, who is the proprietor of Everest Sugar Mills. </span></span></span></span></p>

<p><span 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;Altogether three sugar mills are in a position to sell a total of 7 megawatts of electricity from this season,&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;">Indu Shankar and Everest sugar mills have already taken permission from the Department of Electricity Development to produce 3 megawatts of electricity each. They have also signed an agreement with the NEA to purchase or sell electricity at the &ldquo;posted rate&rdquo; of Rs 8.4 per unit. </span></span></span></span></p>

<p><span 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, Reliance Sugar Mills, which has taken permission from the board to survey the possibility of producing 10 megawatts of electricity, is also preparing to sell excess of electricity from this season. The company, however, is yet to acquire license, informed Director General of the department Navin Raj Singh.</span></span></span></span></p>

<p><span 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 sugar mills will be operational within a month. Operators of the mills say they will be in a position to sell electricity as soon as they start producing sugar. NEA says that it can purchase electricity from sugar mills with whom it has signed power purchase agreements (PPA).</span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;">Sugar mills normally operate during the winter season from mid-December to mid-April. The electricity produced by sugar mills by burning biomass is considered of great significance, especially because the production of hydroelectricity is reduced to a great extent during winter season.</span></span></span></span></p>
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	(int) 5 => array(
		'Article' => array(
			'id' => '12706',
			'article_category_id' => '1',
			'title' => 'Nepal’s Bilateral Trade with China Shrinks by Rs 20 Billion',
			'sub_title' => '',
			'summary' => 'November 24: The government’s inability to fully operate Nepal’s customs points in the northern border is taking toll on trade between Nepal and China. ',
			'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;">November 24: The government&rsquo;s inability to fully operate Nepal&rsquo;s customs points in the northern border is taking toll on trade between Nepal and China. The disruption in movement of goods from the border points since late January has reduced the volume of trade with China, which is Nepal&rsquo;s second largest trade partner.</span></span></span></span></p>

<p><span 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 made public by the Department of Customs, Nepal&rsquo;s bilateral trade with China declined by Rs 20 billion in the first four months of the current fiscal year compared to the corresponding period of last fiscal year.</span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;">The department informed that the volume of bilateral trade with China during the review period was worth Rs 60.41 billion. Nepal&rsquo;s trade with China during the same period of last fiscal year was of Rs 80.89 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;">Both export and import with China had increased since the 2015 earthquake but the figures took a nosedive since coronavirus started spreading from China late last year. </span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;">During the review period of last fiscal year, Nepal exported goods worth Rs 710 million to China while it imported goods worth Rs 80.18 billion from the northern neighbor. This year, the import has been limited to Rs 60.12 billion while Nepal&rsquo;s export has also dropped to 209 million.</span></span></span></span></p>

<p><span 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 border transit points with China that were closed since January are yet to fully reopen. Only the Tatopani and Rasuwagadhi customs points are partially operational.</span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;">Hundreds of containers used to enter Nepal on a daily basis prior to the emergence of coronavirus. The entry of containers has dropped to hardly five per day at present.</span></span></span></span></p>

<p><span 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&rsquo;s trade with&nbsp; China has been badly affected because Nepali containers are not allowed to go across the border to bring back goods, says Bachhu Poudel, chairman of Nepal Trans-Himalayan Border Commerce 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;">The border which was completely closed in late January was brought into operation in May, according to the government. But the customs points have not become fully operational till date, says Poudel.</span></span></span></span></p>

<p><span 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;Hundreds of containers used to enter Nepal every day in the past but hardly five of them enter the country these days,&rdquo; said Poudel.</span></span></span></span></p>

<p><span 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 of Customs informed that Nepal&rsquo;s overall foreign trade is returning back to normalcy although the customs points with China remain affected.</span></span></span></span></p>

<p><span 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 department, the country has imported goods worth Rs 402 billion in the first four months of the current fiscal year, which&nbsp; is less than that of the last fiscal&nbsp; year by only ten percent.</span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;">Director General of the Department of Customs Suman Dahal says that Nepal&rsquo;s foreign trade must be considered satisfactory because the government has adopted a policy of increasing exports and reducing imports.</span></span></span></span></p>

<p>&nbsp;</p>
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	(int) 6 => array(
		'Article' => array(
			'id' => '12705',
			'article_category_id' => '1',
			'title' => 'Profit of Development Banks Shrinks by 25 Percent ',
			'sub_title' => '',
			'summary' => 'November 23: The coronavirus pandemic has affected the entire banking sector of the country and has impacted the net profit of development banks.',
			'content' => '<p><span style="font-size:12pt"><span style="font-family:Cambria"><span style="font-size:14.0pt"><span style="font-family:Calibri">November 23: The coronavirus pandemic has affected the entire banking sector of the country and has impacted the net profit of development banks. Out of 18 development banks, the net profit growth rate of seven development banks in the first quarter of the current fiscal year has been negative as compared to the previous fiscal year.</span></span></span></span></p>

<p><span style="font-size:12pt"><span style="font-family:Cambria"><span style="font-size:14.0pt"><span style="font-family:Calibri">According to the financial report of the first quarter made public by all the development banks, the total net profit till September was Rs 902.7 million while they made a profit of Rs 1.20 billion in the previous fiscal year. Compared to last year, the total net profit growth rate of development banks has shrunk by 25 percent. Three development banks have incurred net losses while the distributable profits of seven banks have turned negative.</span></span></span></span></p>

<p><span style="font-size:12pt"><span style="font-family:Cambria"><span style="font-size:14.0pt"><span style="font-family:Calibri">As the profit growth rate of Jyoti, Garima, Exel, Shangrila, Shine Resunga, Corporate, and Karnali Development Bank has been lower than last year, the overall net profit of the development banks has shrunk by about 26 percent. Despite the overall contraction in the bank&#39;s profit, the profit growth rate of the remaining 11 development banks are encouraging.</span></span></span></span></p>

<p><span style="font-size:12pt"><span style="font-family:Cambria"><span style="font-size:14.0pt"><span style="font-family:Calibri">Meanwhile, Muktinath Development Bank has made the highest profit among the development banks. The bank has managed to earn a net profit of Rs 294.159 million in the first quarter. In the corresponding period of the previous year, it earned a profit of Rs 228.7 million. Compared to last year, the bank&#39;s profit has increased by 22.23 percent. The distributable profit of the bank is Rs. 152.1 million. </span></span></span></span></p>

<p><span style="font-size:12pt"><span style="font-family:Cambria"><span style="font-size:14.0pt"><span style="font-family:Calibri">Pradyumna Pokharel, CEO of Muktinath Development Bank, informed that the bank has managed to earn net profit due to the increase in interest income.</span></span></span></span></p>

<p>&nbsp;</p>
',
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	(int) 7 => array(
		'Article' => array(
			'id' => '12704',
			'article_category_id' => '1',
			'title' => 'Operation of Fair-Price Shops Extended till January 12 ',
			'sub_title' => '',
			'summary' => 'November 23: The state-owned Food Management and Trade Company Limited (FMTCL) has decided to operate fair-price shops till January 12.',
			'content' => '<p><em>This picture shows online shopping promoted by FMTCL in collaboration with Khalti. Photo Courtesy: Khalti/Facebook</em></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;">November 23: The state-owned Food Management and Trade Company Limited (FMTCL) has decided to operate fair-price shops till January 12. The government is going to operate the fair-price shops targeting the Maghe Sankranti festival for the first time. Initially, the fair price shop was planned from October 1 to November 21. </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;">The company said that the operation of the fair-price shops was extended due to Maghe Sankranti festival and the dire situation of coronavirus pandemic. The company had operated the fair price shop in 29 places across the country including Thapathali, Ramshah Path, Lagankhel, Suryabinayak, and Nakkhu to facilitate the public during the festive season. </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;">Netra Prasad Subedi, chief executive officer of the company, informed that they will give continuity to the shops till January 12. </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;">According to him, the Salt Trading Corporation and Dairy Development Corporation have not yet decided about giving continuity to the fair-price shops yet. It is said that both the corporations have started internal discussion on extending the deadline of the fair-price shops and a decision may be taken soon. </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;">Sharmila Subedi, information officer of FMTCL, said that the company had set a target of selling 20,000 quintals of goods within Dashan, Tihar and Chhath festivals at subsidized rates. According to her, only 10,000 quintals of food has been sold during this period. In contrast, 18,000 quintals of goods were sold in the same period last year. </span></span></span></span></p>

<p><span style="font-size:11pt"><span style="font-family:Calibri"><span style="font-size:14.0pt"><span style="font-family:&quot;Times New Roman&quot;">Goods like rice, pulses, peas, buckwheat, vegetable oil, salt, sugar, flour, ghee, cottage cheese, sanitizer, induction gas stove and goats were sold at the fair-price shops. The three companies also exchanged products and sold food items to diversify their products. </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;">The government operates festival-oriented fair-price shops every year with the expectation that it will help curb the problem of unnecessary price hikes and market price interventions during the festive season. </span></span></span></span></p>

<p>&nbsp;</p>
',
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	(int) 8 => array(
		'Article' => array(
			'id' => '12703',
			'article_category_id' => '1',
			'title' => 'Act Like Public Servants, not Administrators: Finance Minister',
			'sub_title' => '',
			'summary' => '',
			'content' => '<p><em>Finance Minister Bishnu Poudel.</em></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:Arial">November 23: Finance Minister Bishnu Poudel has stressed on the need to increase the ambit of tax and to minimize tax leakage in order to increase revenue collection.</span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:Arial">Speaking at the inauguration of a new building of Inland Revenue Office in Jorpati, Minister Poudel pointed out to the need of increasing participation of people in voluntary payment of tax. &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:Arial">He also instructed revenue officials to strictly implement market monitoring, research, administrative review, collection of taxes and clearance of arrears.</span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:Arial">He also instructed the concerned authorities to adopt customer-friendly approach, facilitate in tax payment process, cost reduction and use of technology as much as possible.</span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:Arial">The minister also directed all the offices under the Inland Revenue Department to increase the reach of taxation and to work toward changing the perception of the public toward tax officials.</span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:Arial">Minister Poudel was of the view that a strong base for tax collection is possible only through a healthy commercial relation between the tax payers and the tax collectors. He added that the National Tax Day would play a vital role to bridge the gap.</span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:Arial">He also told the tax officials to act like a public servant and not like administrators in order to encourage the public to pay taxes.</span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:Arial">Finance Minister Poudel also claimed that the government succeeded in attaining the revised target of tax collection despite an economic meltdown due to coronavirus and subsequent lockdown as well as restrictions in the last fiscal year.</span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:Arial">He also thanked the government employees who worked relentlessly in revenue collection despite the threat of coronavirus.</span></span></span></span></p>

<p>&nbsp;</p>
',
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	(int) 9 => array(
		'Article' => array(
			'id' => '12702',
			'article_category_id' => '1',
			'title' => 'Nepali Exporters Shift the Focus to Soybean Oil ',
			'sub_title' => '',
			'summary' => 'November 23: Nepali exporters have shifted their focus towards exporting refined soybean oil after India banned the import of palm oil more than six months ago.',
			'content' => '<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Bangla MN&quot;">November 23: Nepali exporters have shifted their focus towards exporting refined soybean oil after India banned the import of palm oil more than six months ago.</span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Bangla MN&quot;">The exporters of Nepal has been processing soybean oil ever since India banned import of palm oil in May.</span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Bangla MN&quot;">Soybean oil has replaced palm oil as the top export product of Nepal. Palm oil was the chief export product of Nepal until last year although Nepal doesn&rsquo;t cultivate palm oil itself.</span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Bangla MN&quot;">A review of export through Birgunj customs show that the export of soybean to India in the first quarter of the current fiscal year has increased by five times compared to the corresponding period of last fiscal year.</span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Bangla MN&quot;">In the first four months of the current fiscal year, Nepal exported 48,281 metric tons of soybean oil worth Rs 6.83 billion to India. The export of soybean oil during the same period of last fiscal year was just 10,519 metric tons worth Rs 1.33 billion, informed customs officer Ramesh Sukhmani.</span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Bangla MN&quot;">Birgunj is the main customs point of Nepal from where refined edible oils are exported to India and third countries.</span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Bangla MN&quot;">Nepal had exported palm oil of Rs 18.31 billion in total during the last fiscal year. The export of palm oil through Birgunj alone was worth Rs 11.72 billion which is almost 60 percent of the total export.</span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Bangla MN&quot;">Out of two dozen industries that produce refined oil in Nepal, 14 are located in Birgunj area, informed Suresh Rungata, operator of OCB Food.</span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Bangla MN&quot;">&ldquo;The export of palm oil came to a sudden halt. The exporters then shifted their focus to soybean oil, which has provided them some relief,&rdquo; said Rungata.</span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Bangla MN&quot;">Nepali exporters have been processing unrefined oil and exporting the refined products to India and other countries. They had been charging 30 percent more for the refined product and exporting them to India without paying any customs duty under a concessional scheme of the Indian government.</span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt">India has imposed a heavy customs duty on import of products like palm oil in order to protect its local farmers and industries. India charges 37.5 percent customs duty on oil and 45 percent on readymade goods from countries other than SAARC nations.</span></span></span></p>

<p>&nbsp;</p>
',
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	(int) 10 => array(
		'Article' => array(
			'id' => '12701',
			'article_category_id' => '1',
			'title' => 'Shah Deposes Rana as Highest Taxpayer of Nepal in Individual Category',
			'sub_title' => '',
			'summary' => 'November 23: Vijay Kumar Shah has dethroned Siddhartha Rana as the highest taxpayer of Nepal in individual category.',
			'content' => '<p><span style="font-size:18px"><em>Vijay Kumar Shah, Chairman of Jawlakhel Group of Industries, in this file photo taken by New Business Age.</em></span></p>

<p><span style="font-size:18px"><span style="font-family:Times"><span style="font-family:&quot;Bangla MN&quot;">November 23: Vijay Kumar Shah has dethroned Siddhartha Rana as the highest taxpayer of Nepal in individual category. Rana had remained as the highest taxpayer of the country for the last seven years. </span></span></span></p>

<p><span style="font-size:18px"><span style="font-family:Times"><span style="font-family:&quot;Bangla MN&quot;">Meanwhile, Surya Nepal retained its position as the highest taxpaying company of Nepal. </span></span></span></p>

<p><span style="font-size:18px"><span style="font-family:Times"><span style="font-family:&quot;Bangla MN&quot;">As per the details made public by the Inland Revenue Department on the occasion of the Ninth National Tax Day, Vijay Kumar Shah has been declared as the highest taxpayer of Nepal in individual category.</span></span></span></p>

<p><span style="font-size:18px"><span style="font-family:Times"><span style="font-family:&quot;Bangla MN&quot;">Shah is the chairman of Jawlakhel Group of Companies. Shah, who is involved in liquor business, produces Ruslan Vodka, Golden Oak and Warsteiner Beer.</span></span></span></p>

<p><span style="font-size:18px"><span style="font-family:Times"><span style="font-family:&quot;Bangla MN&quot;">In most of the other categories, the highest taxpayers were the same companies as in the past.</span></span></span></p>

<p><span style="font-size:18px"><span style="font-family:Times"><span style="font-family:&quot;Bangla MN&quot;">Surya Nepal paid a tax of Rs 5.31 billion to retain its position as the top taxpayer company of Nepal.</span></span></span></p>

<p><span style="font-size:18px"><span style="font-family:Times"><span style="font-family:&quot;Bangla MN&quot;">Similarly, Dabur Nepal was declared as the highest taxpayer in export section. Dabur Nepal had won the same accolade even last year.</span></span></span></p>

<p><span style="font-size:18px"><span style="font-family:Times"><span style="font-family:&quot;Bangla MN&quot;">Likewise, the honour of the highest taxpayer among special industry was bagged by Himal Power Limited. </span></span></span></p>

<p><span style="font-size:18px"><span style="font-family:Times"><span style="font-family:&quot;Bangla MN&quot;">In the business section, Agni Incorporated won the title as the highest taxpayer. Agni Incorporated is the authorised distributor of Mahindra vehicles in Nepal.</span></span></span></p>

<p><span style="font-size:18px"><span style="font-family:Times"><span style="font-family:&quot;Devanagari Sangam MN&quot;">Among the tourism enterprises, Taragaun Regency Hotel was declared as the highest taxpayer.</span></span></span></p>

<p><span style="font-size:18px"><span style="font-family:Times"><span style="font-family:&quot;Devanagari Sangam MN&quot;">Likewise, Nabil Bank was the highest taxpayers from among the banks and financial institutions. </span></span></span></p>

<p><span style="font-size:18px"><span style="font-family:Times"><span style="font-family:&quot;Devanagari Sangam MN&quot;">Other institutions to emerge as the highest taxpayers in their respective areas were Nepal Reinsurance Company Limited (insurance), IME Limited (remittance), Manipal Education and Medical Group Nepal (education), Annapurna Agro Industries (agriculture), Chimek Microfinance (microfinance) among others.</span></span></span></p>

<p><span style="font-size:18px"><span style="font-family:Times"><span style="font-family:&quot;Devanagari Sangam MN&quot;">Ghorahi Cement was honoured for paying the taxes in time and also providing timely VAT details since the last ten years. Ghorahi Cement was also the highest taxpayer in VAT section last year.</span></span></span></p>

<p><span style="font-size:18px"><span style="font-family:Times"><span style="font-family:&quot;Devanagari Sangam MN&quot;">The government has been observing the National Tax Day on the first of Mangsir (November 15) every year but the programme was delayed this year due to coronavirus as well as Tihar festival.</span></span></span></p>

<p><span style="font-size:18px"><span style="font-family:Times"><span style="font-family:&quot;Devanagari Sangam MN&quot;">The IRD informed that they will organize a formal programme to felicitate the highest taxpayers after the coronavirus infection subsides.</span></span></span></p>

<p>&nbsp;</p>
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		'Article' => array(
			'id' => '12700',
			'article_category_id' => '1',
			'title' => 'Government Seeks Clarification on Fake Covid-19 Reports from 4 Private Hospitals ',
			'sub_title' => '',
			'summary' => 'November 23: The government has sought clarifications from labs of four hospitals in Kathmandu on suspicion of certifying false PCR reports.',
			'content' => '<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:Arial">November 23: The government has sought clarifications from labs of four hospitals in Kathmandu on suspicion of certifying false PCR reports.</span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:Arial">A meeting of the Incident Command System (ICS) of health ministry on Sunday decided to seek clarifications from Star Hospital, Central Diagnostic Laboratory, Surya Health Care Hospital and HAMS regarding this issue. The four hospitals have been given 24 hours to furnish their clarification.</span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:Arial">Ministry of Culture, Tourism and Civil Aviation had written letters to the health ministry and the Covid-19 Crisis Management Centre (CCMC) to investigate the matter as Nepali nationals undergoing tests at those hospitals tested positive for coronavirus in foreign countries soon after leaving the country. In most of the cases, the hospitals had certified their report as negative for coronavirus.</span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:Arial">Many passengers who left the country through various airlines with the certificates provided by private hospitals&rsquo; labs were found infected during tests conducted at airports of foreign countries.</span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:Arial">The first of such incident was reported on October 3 when six Nepali nationals travelled to Hong Kong through a regular flight of Nepal Airlines tested positive for the disease despite getting clearance from the private hospitals. Hong Kong allows entry of people having negative report of less than 72 hours. But the six passengers tested positive and the Civil Aviation Department of Hong Kong subsequently banned Nepal Airlines Corporation for two weeks.</span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:Arial">Suspecting that the private labs of Nepal had provided the passengers with fake certificates, the tourism ministry had written a letter to the health ministry to investigate the matter on November 13.</span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:Arial">The labs are supposed to store the samples of blood for one month in case the report comes negative while they have to store the samples for three months if the result is positive. However, the labs were found not to have maintained the records.</span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:Arial">Spokesperson at the Ministry of Health and Population Dr Jageshwar Gautam informed that the four hospitals were asked to submit clarifications because they did not preserve the samples.</span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:Arial">The Emergency Health and Disaster Management Centre has formed a three-member probe committee headed by Dr Mukunda Sharma of the National Public Health Lab, Teku to investigate into the matter.</span></span></span></span></p>

<p>&nbsp;</p>
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			'id' => '12699',
			'article_category_id' => '266',
			'title' => 'NRCS and Coca-Cola Nepal begin Second Phase of Distributing Health Equipment',
			'sub_title' => '',
			'summary' => 'November 22: Coca-Cola and Nepal Red Cross Society (NRCS) have commenced the second phase of handing over of safety gears and equipment to various hospitals and volunteers to enhance the safety of health workers, patients and volunteers working in the frontline against Covid-19 pandemic.',
			'content' => '<p><span style="font-size:11pt"><span style="font-family:Calibri"><span style="font-size:12.0pt"><span style="font-family:Arial">November 22: </span></span><span style="font-size:12.0pt"><span style="font-family:Arial">Coca-Cola and Nepal Red Cross Society (NRCS) have commenced the second phase of handing over of safety gears and equipment to various hospitals and volunteers to enhance the safety of health workers, patients and volunteers working in the frontline against Covid-19 pandemic.</span></span></span></span></p>

<p><span style="font-size:11pt"><span style="font-family:Calibri"><span style="font-size:12.0pt"><span style="font-family:Arial">Coca-Cola said in a statement that the total value of the equipment to be handed over to the Government of Nepal for use in various hospitals is approximately Rs 14 million. </span></span></span></span></p>

<p><span style="font-size:11pt"><span style="font-family:Calibri"><span style="font-size:12.0pt"><span style="font-family:Arial">Under this partnership, ventilators will be handed over to the major hospitals in all the seven provinces of the country and personal safety equipment (PPE) will be handed over to the health workers and volunteers, the company added.</span></span></span></span></p>

<p><span style="font-size:11pt"><span style="font-family:Calibri"><span style="font-size:12.0pt"><span style="font-family:Arial">The second phase of the safety gears and equipment distribution campaign kicked off on November 19 in the presence of Minister for Health and Population Bhanu Bhakta Dhakal at the Ministry of Health and Population. </span></span></span></span></p>

<p><span style="font-size:11pt"><span style="font-family:Calibri"><span style="font-size:12.0pt"><span style="font-family:Arial">Appreciating the joint efforts for the second phase, Minister Dhakal expressed his commitment to distribute ventilators provided by the Red Cross in collaboration with Coca-Cola. </span></span></span></span></p>

<p><span style="font-size:11pt"><span style="font-family:Calibri"><span style="font-size:12.0pt"><span style="font-family:Arial">According to the company, Minister Dhakal handed over the equipment provided by NRCS and Coca-Cola to Sagar Rajkarnikar, director of Sukraraj Tropical and Infectious Diseases Hospital, Teku. </span></span></span></span></p>

<p><span style="font-size:11pt"><span style="font-family:Calibri"><span style="font-size:12.0pt"><span style="font-family:Arial">The company had provided 100 sets of safety glasses, 120 boxes of surgical mask, 150 sets of PPE, 50 boxes of gloves and 200 sets of KN -95 masks.</span></span></span></span></p>

<p><span style="font-size:11pt"><span style="font-family:Calibri"><span style="font-size:12.0pt"><span style="font-family:Arial">Similarly, 48,000 units of surgical masks, 1,600 units of KN-95 masks, 550 sets of PPE, 400 pairs of safety glasses and 10,000 pairs of gloves along with one ventilator each will be handed over to the designated hospitals in seven provinces within the next two weeks, the statement further said. </span></span></span></span></p>

<p><span style="font-size:11pt"><span style="font-family:Calibri"><span style="font-size:12.0pt"><span style="font-family:Arial">Arrangements have been made to handover the equipment to Koshi Zonal Hospital in Morang, Narayani Sub-Regional Hospital in Parsa, Bharatpur Hospital in Chitwan, Pokhara Health Science Hospital of Kaski, Bheri Zonal Hospital in Banke, Midwest Regional Hospital in Surkhet and Seti Zonal Hospital in Kailali.</span></span></span></span></p>

<p><span style="font-size:11pt"><span style="font-family:Calibri"><span style="font-family:Arial">&ldquo;As Nepal fights to contain COV1D-19, we all need to ensure there is ample support provided to the Government. Coca-Cola&rsquo;s partnership with Nepal Red Cross provides </span><span style="font-family:Arial">safety gear for front line workers and ventilators for the treatment of patients,&rdquo; said Pradip Pandey, managing director of Bottlers Nepal Limited, that produces Coca-Cola in Nepal. </span></span></span></p>

<p><span style="font-size:11pt"><span style="font-family:Calibri"><span style="font-size:12.0pt"><span style="font-family:Arial">&quot;This partnership between Nepal Red Cross Society and Coca-Cola in Nepal is an effort to prevent and control the spread of coronavirus and protect frontline health workers and patients,&quot; Nepal Red Cross Society&rsquo;s Acting Chairperson Sarmila Karki said.</span></span></span></span></p>

<p>&nbsp;</p>
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		'Article' => array(
			'id' => '12698',
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			'title' => 'Merger of Udayapur and Hetauda Cement Industries in Dilemma ',
			'sub_title' => '',
			'summary' => 'November 22: The merger of Udayapur Cement Industries and Hetauda Cement has become uncertain as the two state owned companies have shown no interest in merger.',
			'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;">November 22: The merger of Udayapur Cement Industries and Hetauda Cement has become uncertain as the two state owned companies have shown no interest in merger.</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;">Although the merger of the two industries was initiated in last July by drafting a Terms of Reference (ToR), the process has not gained momentum as both the industries have not responded to the government initiative.</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;">The government had formed a committee during last May to merge these two entities. </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;">According to a source at the Ministry of Industry, Commerce and Supplies, the merger process is in dilemma as they have not received any reply from the two industries. The source said that last July, the ministry had asked the industries for a written reply on whether they agree or disagree on merging and the pros and cons of the merger. As no information has been received from both the cement industries so far, no discussion has taken place to take the merger process ahead. </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;">&ldquo;There might have been some delays due to the coronavirus infection and due to the delay in discussion with the trade union of the industries,&rdquo; the source said, adding, &ldquo;We are waiting for their response.&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;">Earlier, the merger of Hetauda and Udayapur Cement Industries was delayed after the coordinator of the committee was transferred. </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;">A committee consisting of a mechanical engineer and the representatives from the Ministry of Finance and the Office of the Company Registrar has been formed under the leadership of the Joint Secretary of the Ministry of Industry, Commerce and Supply to analyze the financial prospects and technical condition of the two industries and make suggestions. </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;">The government has been claiming that the merger strategy has been adopted to reduce the administrative cost and to use the technical skills of one company for the benefit of &nbsp;another as the two companies are of the same nature, but are being operated under different managements. </span></span></span></span></p>

<p>&nbsp;</p>

<p>&nbsp;</p>
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		'Article' => array(
			'id' => '12697',
			'article_category_id' => '237',
			'title' => '  Xiaomi Bounces Back to ‘Number 1 Position’ in Smartphone Market of Nepal',
			'sub_title' => '',
			'summary' => 'November 22: Chinese smartphone brand Xiaomi announced that it has yet again become the number one smartphone brand in Nepal.',
			'content' => '<p><span style="font-size:18px"><span style="font-family:Calibri">November 22: Chinese smartphone brand Xiaomi announced that it has yet again become the number one smartphone brand in Nepal, as per the latest Worldwide Quarterly Mobile Phone Tracker Report (Q3 2020) of the leading market research firm, IDC. </span></span></p>

<p><span style="font-size:18px"><span style="font-family:Calibri">This is the second time that the brand has climbed to the number one position after becoming the market leader in smartphones for Nepal in Q1 2020, says a statement issued by the company.&nbsp;</span></span></p>

<p><span style="font-size:18px"><span style="font-family:Calibri">Currently holding a market share of 34.1% based on unit shipment, the brand has bagged the top position in Nepal for the smartphone category riding on the successful launch of a series of smartphones across Mi and Redmi, the statement added.&nbsp;</span></span></p>

<p><span style="font-size:18px"><span style="font-family:Calibri">Sourabh Kothari, country general manager of Xiaomi for Nepal, said, &ldquo;We are ecstatic to be the #1 smartphone brand in Nepal again as per IDC report for Q3 2020. We are humbled by the love and support that we have received from our Mi Fans and it has helped us come closer to our mission of providing innovation for all. We shall continue to work towards our commitment of gaining our users&rsquo; sustained trust and appreciation through constant innovation across our products, business model and infrastructure.&rdquo;</span></span></p>

<p><span style="font-size:18px"><span style="font-family:Calibri">According to the company, the brand witnessed significant growth in the market with the launch of a series of great smartphones offering top of the line specifications at multiple price points starting from Redmi 9A, Redmi 9C, Redmi 9, Redmi Note 9, Redmi Note 9 Pro and Redmi Note 9 Pro Max. </span></span></p>

<p><span style="font-size:18px"><span style="font-family:Calibri">Xiaomi said it has been working with its online selling partners Daraz.com and Sastodeal in Nepal contributing massively to the brand&rsquo;s wide reach in the country. </span></span></p>

<p><span style="font-size:18px"><span style="font-family:Calibri">&ldquo;The offline expansion added to the overall growth with Xiaomi setting up more than 1600+ offline partner stores with 350+ Mi Preferred Partner stores across the country, strengthening their presence in Nepal. The company currently holds a strong distribution network across locations. They have also fortified their position in the market with robust after sales service through exclusive authorized service centers as well a dedicated service warehouse to fulfill customer requirements in Nepal,&rdquo; the statement added.</span></span></p>

<p>&nbsp;</p>
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			'id' => '12711',
			'article_category_id' => '266',
			'title' => 'Berger Paints Nepal announces winners of 'Berger Color Splash 2076’',
			'sub_title' => '',
			'summary' => 'November 24: Berger Paints Nepal, manufacturer of decorative paints in Nepal since 2000, has announced the winners of its consumer offer 'Berger Color Splash'.',
			'content' => '<p><span style="font-size:18px"><span style="font-family:Calibri">November 24: Berger Paints Nepal, manufacturer of decorative paints in Nepal since 2000, has announced the winners of its consumer offer &#39;Berger Color Splash&#39;.</span></span></p>

<p><span style="font-size:18px"><span style="font-family:Calibri">The scheme was launched in the festive season of Dashain and Tihar 2076 where the customers purchasing selected Berger products won 100 sq ft of Silk Illusion Designers Finish as sure shot reward and also got chance to win exciting prizes through lucky draw and digital contest.</span></span></p>

<p><span style="font-size:18px"><span style="font-family:Calibri">The company said in a statement that 178 winners out of 6000+ participants were announced through a live lucky draw. </span></span></p>

<p><span style="font-size:18px"><span style="font-family:Calibri">According to the company, Jay Nath Sapkota of Biratnagar won the bumper prize of Rs 500,000.</span></span></p>

<p><span style="font-size:18px"><span style="font-family:Calibri">Similarly, Purna Man Gurung of Birtamode and Ramesh Shrestha of Kathmandu both won the first prize which includes a trip to London.</span></span></p>

<p><span style="font-size:18px"><span style="font-family:Calibri">Other 25 winners bagged 32&rdquo; Samsung Television as second prize, while 50 winners received domestic trip as third prize. The company said that 100 winners got Samsung M20 as consolation prize during the lucky draw.</span></span></p>

<p><span style="font-size:18px"><span style="font-family:Calibri">Among the winners from the Digital Contest, Durga Lammichanne and Suresh Lammichhane has won Rs 100,000 each in exterior category whereas Manoj Sitaula and Chanu Khadka Bhandari has won Rs 100,000 each in interior category as first prize. </span></span></p>

<p><span style="font-size:18px"><span style="font-family:Calibri">Aim Bahadur Basnet and Sarala Adhikari has won Rs 50,000 each in exterior category whereas Raju Lama and Hem Prasad Dhakal won Rs 50,000 each in interior category as second prize. Basanta Kumar Basnet and Lila Khadka has won Rs 25,000 in exterior category whereas, Ghadendra Rai and Dhan Bahadur Basnet won Rs 25,000 each in interior category as third prize. </span></span></p>

<p>&nbsp;</p>
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			'title' => 'NCHL Working to Ensure Inter-Bank Card Settlement under the National Payment Switch',
			'sub_title' => '',
			'summary' => 'November 24: Nepal Clearing House Limited (NCHL) has started initial phase of work for developing the National Payment Switch as per the understanding reached with the central bank in this regard.',
			'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;">November 24: Nepal Clearing House Limited (NCHL) has started initial phase of work for developing the National Payment Switch as per the understanding reached with the central bank in this regard.</span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;">NCHL informed that it is making necessary preparations for inter-bank card settlement in the first phase.</span></span></span></span></p>

<p><span 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 said that it is currently conducting study for developing the National Payment Switch but hasn&rsquo;t started technical works yet.</span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;">CEO of NCHL Nilesn Man Singh Pradhan informed New Business Age that they are currently studying the modus operandi of the national payment switches of neighbouring countries like India, Sri Lanka and 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;After the study is complete, we will develop a national payment switch which is best suited for Nepal considering the technological advancement of the country and the requirement of businesses and volume of transaction,&rdquo; said Pradhan.</span></span></span></span></p>

<p><span 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 don&rsquo;t have transactions as big as that of India. So we will use a system that is suitable for us,&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;">CEO Pradhan said that the project is one of the big projects of the country and cannot specifically say when it will be completed.</span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;">He argues that such switch is categorized under long-term projects in foreign countries. Pradhan added that they will first identify the components which they require urgently and work towards setting them up in phase-wise manner.</span></span></span></span></p>

<p><span 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;In the first phase, we will ensure inter-bank card settlement,&rdquo; said Pradhan.</span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;">At present, the central bank has instructed commercial banks not to charge customers for inter-bank ATM transaction. As Nepal does not have its own payment switch, the banks have been forced &nbsp;pay a minimum of Rs 12 for such transaction to foreign developers. BFIs have been paying hefty amount to international payment gateways like Visa and Master Card because the country lacks its own national payment gateway.</span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;">Banks of Nepal have been making payment for transactions through debit and credit cards by using payment switches of foreign countries.</span></span></span></span></p>

<p><span 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 country has been spending lots of money to foreign banks for the payments made through point of sales machines placed at shopping malls across 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;">In this context, a national payment switch is expected to reduce the cost of the banks to a great extent.</span></span></span></span></p>

<p>&nbsp;</p>
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		'Article' => array(
			'id' => '12709',
			'article_category_id' => '1',
			'title' => 'Finance Minister warns of Action against Govt Staffers if they Fail to Meet Revenue Target ',
			'sub_title' => '',
			'summary' => 'November 24: Finance minister Bishnu Prasad Poudel has warned government  employees that they will be punished if they do not meet the revenue collection target mentioned in the budget statement of the current fiscal year. ',
			'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;">November 24: Finance minister Bishnu Prasad Poudel has warned government &nbsp;employees that they will be punished if they do not meet the revenue collection target mentioned in the budget statement of the current fiscal year. He also said that the employees who achieve the target will be rewarded. </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;">Speaking with the finance secretary, director general of Inland Revenue Department and customs department on Monday, he directed the officials to perform their work to meet the aim despite facing the challenges created by covid-19.&nbsp; </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;">Out of the target of 25 percent revenue collection in the first four months of the current fiscal year, the government was able to collect 24 percent revenue. According to the Ministry of Finance, Rs 240.15 billion revenue has been collected in the first four months. </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;">The finance minister gave such directive after failing to meet the revenue target in the first four months. Explaining that the employees should not be pressurized to work with fear and intimidation, he stressed on creating favorable working conditions with respect to qualifications and abilities.</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;&ldquo;The ministry provides support, facilitation and encouragement to solve difficulties and problems. If the goal is achieved, we respect it. If not, you should be punished,&rdquo; he said. </span></span></span></span></p>

<p>&nbsp;</p>

<p>&nbsp;</p>
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	(int) 3 => array(
		'Article' => array(
			'id' => '12708',
			'article_category_id' => '1',
			'title' => 'State-Owned Company to Extract Iron Using Locally Available Resources in Nawalparasi',
			'sub_title' => '',
			'summary' => 'November 24: The state-owned Dhaubadhi Iron Limited has finalized the technology for extracting iron from its Nawalparasi-based mine after it was deemed commercially viable to extract ore from the mine.',
			'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;">November 24: The state-owned Dhaubadhi Iron Limited has finalized the technology for extracting iron from its Nawalparasi-based mine after it was deemed commercially viable to extract ore from the mine.</span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;">A report prepared after sending samples of raw materials extracted from the mine to China for studying the prospects of commercial extraction has suggested using electric furnace for extracting&nbsp; iron.</span></span></span></span></p>

<p><span 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 suggested using electric furnace considering the utilization of electricity produced in the country. It is also possible to refine iron by using coal but it would incur additional cost to import coal. Therefore, the state-owned company is preparing to use electric furnace for extraction and refining of iron from the mine.</span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;">CEO of the company Krishna Dev Jha informed that China provided them the report about two weeks ago. Jha said that they will opt for electric furnace as per the recommendation of the 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;">&ldquo;We will utilize the resources available in the country and rely less on imported products for extracting iron,&rdquo; said Jha.</span></span></span></span></p>

<p><span 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 is preparing to start the drilling process within the next two weeks (by mid-December) as it has already received the report. It has already selected a consulting firm for the purpose from 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;">The consulting company will drill between 265 meters to 300 meters in five areas of Dhaubadhi and Pokhari where the mine is located. The quantity of iron which can be extracted from the mine will be ascertained after drilling.</span></span></span></span></p>

<p><span 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 company is also preparing to select international consultant company by issuing a public notice for conducting feasibility study and to prepare the detailed project report (DPR).</span></span></span></span></p>

<p><span 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 will begin commercial production of iron only after completing all of the above mentioned processes.</span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;">CEO Jha informed that the company is preparing to set up a steel plant in Kawasoti of Nawalparasi district. They have already started acquiring 150 bigha land for setting up the factory, according to Jha.</span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;">He further informed that 1,500 metric tons of iron can be produced on a daily basis after the company starts production.</span></span></span></span></p>

<p><span 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 the government had been announcing financial support for the mine since the last few years, it could not be implemented as the report was yet to arrive from China.</span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;">The company has received Rs 250 million during the last fiscal&nbsp; year while the government has allocated Rs 1.5 billion this year.</span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;">The federal government has been looking after the financial matters of the company which has been set up with a total capital of Rs 10 billion. The private sector has 45 percent stakes at the company.</span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;">The company was set up in public private partnership model after the government on August 20 decided to open a company specifically for extraction of mines.</span></span></span></span></p>

<p>&nbsp;</p>
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		'Article' => array(
			'id' => '12707',
			'article_category_id' => '1',
			'title' => 'Sugar Mills Preparing to Sell Electricity from this Season',
			'sub_title' => '',
			'summary' => 'November 24: Three sugar mills are preparing to sell electricity to Nepal Electricity Authority this season. ',
			'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;">November 24: Three sugar mills are preparing to sell electricity to Nepal Electricity Authority this season. Everest Sugar Mills of Mahottari, Indu Shankar Sugar Mills of Sarlahi and Reliance Sugar Mills of Bara are making necessary preparations to sell the electricity that they produce themselves from the waste product of sugarcane. </span></span></span></span></p>

<p><span 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 of Nepal Sugar Producers Association Sashikanta Agrawal said that they are preparing to sell electricity from this winter season when the government faces shortage of electricity.</span></span></span></span></p>

<p><span 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 sugar mills are planning to sell 7 megawatts of electricity this season. Agrawal says that they are in the final phase of preparation for selling the electricity which they produce from biomass. </span></span></span></span></p>

<p><span 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 have already made preparations to connect the transmission line from the mills to the nearest sub-station,&rdquo; said Agrawal, who is the proprietor of Everest Sugar Mills. </span></span></span></span></p>

<p><span 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;Altogether three sugar mills are in a position to sell a total of 7 megawatts of electricity from this season,&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;">Indu Shankar and Everest sugar mills have already taken permission from the Department of Electricity Development to produce 3 megawatts of electricity each. They have also signed an agreement with the NEA to purchase or sell electricity at the &ldquo;posted rate&rdquo; of Rs 8.4 per unit. </span></span></span></span></p>

<p><span 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, Reliance Sugar Mills, which has taken permission from the board to survey the possibility of producing 10 megawatts of electricity, is also preparing to sell excess of electricity from this season. The company, however, is yet to acquire license, informed Director General of the department Navin Raj Singh.</span></span></span></span></p>

<p><span 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 sugar mills will be operational within a month. Operators of the mills say they will be in a position to sell electricity as soon as they start producing sugar. NEA says that it can purchase electricity from sugar mills with whom it has signed power purchase agreements (PPA).</span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;">Sugar mills normally operate during the winter season from mid-December to mid-April. The electricity produced by sugar mills by burning biomass is considered of great significance, especially because the production of hydroelectricity is reduced to a great extent during winter season.</span></span></span></span></p>
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	(int) 5 => array(
		'Article' => array(
			'id' => '12706',
			'article_category_id' => '1',
			'title' => 'Nepal’s Bilateral Trade with China Shrinks by Rs 20 Billion',
			'sub_title' => '',
			'summary' => 'November 24: The government’s inability to fully operate Nepal’s customs points in the northern border is taking toll on trade between Nepal and China. ',
			'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;">November 24: The government&rsquo;s inability to fully operate Nepal&rsquo;s customs points in the northern border is taking toll on trade between Nepal and China. The disruption in movement of goods from the border points since late January has reduced the volume of trade with China, which is Nepal&rsquo;s second largest trade partner.</span></span></span></span></p>

<p><span 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 made public by the Department of Customs, Nepal&rsquo;s bilateral trade with China declined by Rs 20 billion in the first four months of the current fiscal year compared to the corresponding period of last fiscal year.</span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;">The department informed that the volume of bilateral trade with China during the review period was worth Rs 60.41 billion. Nepal&rsquo;s trade with China during the same period of last fiscal year was of Rs 80.89 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;">Both export and import with China had increased since the 2015 earthquake but the figures took a nosedive since coronavirus started spreading from China late last year. </span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;">During the review period of last fiscal year, Nepal exported goods worth Rs 710 million to China while it imported goods worth Rs 80.18 billion from the northern neighbor. This year, the import has been limited to Rs 60.12 billion while Nepal&rsquo;s export has also dropped to 209 million.</span></span></span></span></p>

<p><span 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 border transit points with China that were closed since January are yet to fully reopen. Only the Tatopani and Rasuwagadhi customs points are partially operational.</span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;">Hundreds of containers used to enter Nepal on a daily basis prior to the emergence of coronavirus. The entry of containers has dropped to hardly five per day at present.</span></span></span></span></p>

<p><span 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&rsquo;s trade with&nbsp; China has been badly affected because Nepali containers are not allowed to go across the border to bring back goods, says Bachhu Poudel, chairman of Nepal Trans-Himalayan Border Commerce 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;">The border which was completely closed in late January was brought into operation in May, according to the government. But the customs points have not become fully operational till date, says Poudel.</span></span></span></span></p>

<p><span 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;Hundreds of containers used to enter Nepal every day in the past but hardly five of them enter the country these days,&rdquo; said Poudel.</span></span></span></span></p>

<p><span 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 of Customs informed that Nepal&rsquo;s overall foreign trade is returning back to normalcy although the customs points with China remain affected.</span></span></span></span></p>

<p><span 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 department, the country has imported goods worth Rs 402 billion in the first four months of the current fiscal year, which&nbsp; is less than that of the last fiscal&nbsp; year by only ten percent.</span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;">Director General of the Department of Customs Suman Dahal says that Nepal&rsquo;s foreign trade must be considered satisfactory because the government has adopted a policy of increasing exports and reducing imports.</span></span></span></span></p>

<p>&nbsp;</p>
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		'Article' => array(
			'id' => '12705',
			'article_category_id' => '1',
			'title' => 'Profit of Development Banks Shrinks by 25 Percent ',
			'sub_title' => '',
			'summary' => 'November 23: The coronavirus pandemic has affected the entire banking sector of the country and has impacted the net profit of development banks.',
			'content' => '<p><span style="font-size:12pt"><span style="font-family:Cambria"><span style="font-size:14.0pt"><span style="font-family:Calibri">November 23: The coronavirus pandemic has affected the entire banking sector of the country and has impacted the net profit of development banks. Out of 18 development banks, the net profit growth rate of seven development banks in the first quarter of the current fiscal year has been negative as compared to the previous fiscal year.</span></span></span></span></p>

<p><span style="font-size:12pt"><span style="font-family:Cambria"><span style="font-size:14.0pt"><span style="font-family:Calibri">According to the financial report of the first quarter made public by all the development banks, the total net profit till September was Rs 902.7 million while they made a profit of Rs 1.20 billion in the previous fiscal year. Compared to last year, the total net profit growth rate of development banks has shrunk by 25 percent. Three development banks have incurred net losses while the distributable profits of seven banks have turned negative.</span></span></span></span></p>

<p><span style="font-size:12pt"><span style="font-family:Cambria"><span style="font-size:14.0pt"><span style="font-family:Calibri">As the profit growth rate of Jyoti, Garima, Exel, Shangrila, Shine Resunga, Corporate, and Karnali Development Bank has been lower than last year, the overall net profit of the development banks has shrunk by about 26 percent. Despite the overall contraction in the bank&#39;s profit, the profit growth rate of the remaining 11 development banks are encouraging.</span></span></span></span></p>

<p><span style="font-size:12pt"><span style="font-family:Cambria"><span style="font-size:14.0pt"><span style="font-family:Calibri">Meanwhile, Muktinath Development Bank has made the highest profit among the development banks. The bank has managed to earn a net profit of Rs 294.159 million in the first quarter. In the corresponding period of the previous year, it earned a profit of Rs 228.7 million. Compared to last year, the bank&#39;s profit has increased by 22.23 percent. The distributable profit of the bank is Rs. 152.1 million. </span></span></span></span></p>

<p><span style="font-size:12pt"><span style="font-family:Cambria"><span style="font-size:14.0pt"><span style="font-family:Calibri">Pradyumna Pokharel, CEO of Muktinath Development Bank, informed that the bank has managed to earn net profit due to the increase in interest income.</span></span></span></span></p>

<p>&nbsp;</p>
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			'image' => '20201123054646_mega-bank-mergers-working-smoothly-without-heartburns-bank-employees-union.jpg',
			'article_date' => '2020-11-23 17:46:01',
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	(int) 7 => array(
		'Article' => array(
			'id' => '12704',
			'article_category_id' => '1',
			'title' => 'Operation of Fair-Price Shops Extended till January 12 ',
			'sub_title' => '',
			'summary' => 'November 23: The state-owned Food Management and Trade Company Limited (FMTCL) has decided to operate fair-price shops till January 12.',
			'content' => '<p><em>This picture shows online shopping promoted by FMTCL in collaboration with Khalti. Photo Courtesy: Khalti/Facebook</em></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;">November 23: The state-owned Food Management and Trade Company Limited (FMTCL) has decided to operate fair-price shops till January 12. The government is going to operate the fair-price shops targeting the Maghe Sankranti festival for the first time. Initially, the fair price shop was planned from October 1 to November 21. </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;">The company said that the operation of the fair-price shops was extended due to Maghe Sankranti festival and the dire situation of coronavirus pandemic. The company had operated the fair price shop in 29 places across the country including Thapathali, Ramshah Path, Lagankhel, Suryabinayak, and Nakkhu to facilitate the public during the festive season. </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;">Netra Prasad Subedi, chief executive officer of the company, informed that they will give continuity to the shops till January 12. </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;">According to him, the Salt Trading Corporation and Dairy Development Corporation have not yet decided about giving continuity to the fair-price shops yet. It is said that both the corporations have started internal discussion on extending the deadline of the fair-price shops and a decision may be taken soon. </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;">Sharmila Subedi, information officer of FMTCL, said that the company had set a target of selling 20,000 quintals of goods within Dashan, Tihar and Chhath festivals at subsidized rates. According to her, only 10,000 quintals of food has been sold during this period. In contrast, 18,000 quintals of goods were sold in the same period last year. </span></span></span></span></p>

<p><span style="font-size:11pt"><span style="font-family:Calibri"><span style="font-size:14.0pt"><span style="font-family:&quot;Times New Roman&quot;">Goods like rice, pulses, peas, buckwheat, vegetable oil, salt, sugar, flour, ghee, cottage cheese, sanitizer, induction gas stove and goats were sold at the fair-price shops. The three companies also exchanged products and sold food items to diversify their products. </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;">The government operates festival-oriented fair-price shops every year with the expectation that it will help curb the problem of unnecessary price hikes and market price interventions during the festive season. </span></span></span></span></p>

<p>&nbsp;</p>
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	(int) 8 => array(
		'Article' => array(
			'id' => '12703',
			'article_category_id' => '1',
			'title' => 'Act Like Public Servants, not Administrators: Finance Minister',
			'sub_title' => '',
			'summary' => '',
			'content' => '<p><em>Finance Minister Bishnu Poudel.</em></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:Arial">November 23: Finance Minister Bishnu Poudel has stressed on the need to increase the ambit of tax and to minimize tax leakage in order to increase revenue collection.</span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:Arial">Speaking at the inauguration of a new building of Inland Revenue Office in Jorpati, Minister Poudel pointed out to the need of increasing participation of people in voluntary payment of tax. &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:Arial">He also instructed revenue officials to strictly implement market monitoring, research, administrative review, collection of taxes and clearance of arrears.</span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:Arial">He also instructed the concerned authorities to adopt customer-friendly approach, facilitate in tax payment process, cost reduction and use of technology as much as possible.</span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:Arial">The minister also directed all the offices under the Inland Revenue Department to increase the reach of taxation and to work toward changing the perception of the public toward tax officials.</span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:Arial">Minister Poudel was of the view that a strong base for tax collection is possible only through a healthy commercial relation between the tax payers and the tax collectors. He added that the National Tax Day would play a vital role to bridge the gap.</span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:Arial">He also told the tax officials to act like a public servant and not like administrators in order to encourage the public to pay taxes.</span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:Arial">Finance Minister Poudel also claimed that the government succeeded in attaining the revised target of tax collection despite an economic meltdown due to coronavirus and subsequent lockdown as well as restrictions in the last fiscal year.</span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:Arial">He also thanked the government employees who worked relentlessly in revenue collection despite the threat of coronavirus.</span></span></span></span></p>

<p>&nbsp;</p>
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	(int) 9 => array(
		'Article' => array(
			'id' => '12702',
			'article_category_id' => '1',
			'title' => 'Nepali Exporters Shift the Focus to Soybean Oil ',
			'sub_title' => '',
			'summary' => 'November 23: Nepali exporters have shifted their focus towards exporting refined soybean oil after India banned the import of palm oil more than six months ago.',
			'content' => '<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Bangla MN&quot;">November 23: Nepali exporters have shifted their focus towards exporting refined soybean oil after India banned the import of palm oil more than six months ago.</span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Bangla MN&quot;">The exporters of Nepal has been processing soybean oil ever since India banned import of palm oil in May.</span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Bangla MN&quot;">Soybean oil has replaced palm oil as the top export product of Nepal. Palm oil was the chief export product of Nepal until last year although Nepal doesn&rsquo;t cultivate palm oil itself.</span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Bangla MN&quot;">A review of export through Birgunj customs show that the export of soybean to India in the first quarter of the current fiscal year has increased by five times compared to the corresponding period of last fiscal year.</span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Bangla MN&quot;">In the first four months of the current fiscal year, Nepal exported 48,281 metric tons of soybean oil worth Rs 6.83 billion to India. The export of soybean oil during the same period of last fiscal year was just 10,519 metric tons worth Rs 1.33 billion, informed customs officer Ramesh Sukhmani.</span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Bangla MN&quot;">Birgunj is the main customs point of Nepal from where refined edible oils are exported to India and third countries.</span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Bangla MN&quot;">Nepal had exported palm oil of Rs 18.31 billion in total during the last fiscal year. The export of palm oil through Birgunj alone was worth Rs 11.72 billion which is almost 60 percent of the total export.</span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Bangla MN&quot;">Out of two dozen industries that produce refined oil in Nepal, 14 are located in Birgunj area, informed Suresh Rungata, operator of OCB Food.</span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Bangla MN&quot;">&ldquo;The export of palm oil came to a sudden halt. The exporters then shifted their focus to soybean oil, which has provided them some relief,&rdquo; said Rungata.</span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Bangla MN&quot;">Nepali exporters have been processing unrefined oil and exporting the refined products to India and other countries. They had been charging 30 percent more for the refined product and exporting them to India without paying any customs duty under a concessional scheme of the Indian government.</span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt">India has imposed a heavy customs duty on import of products like palm oil in order to protect its local farmers and industries. India charges 37.5 percent customs duty on oil and 45 percent on readymade goods from countries other than SAARC nations.</span></span></span></p>

<p>&nbsp;</p>
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	(int) 10 => array(
		'Article' => array(
			'id' => '12701',
			'article_category_id' => '1',
			'title' => 'Shah Deposes Rana as Highest Taxpayer of Nepal in Individual Category',
			'sub_title' => '',
			'summary' => 'November 23: Vijay Kumar Shah has dethroned Siddhartha Rana as the highest taxpayer of Nepal in individual category.',
			'content' => '<p><span style="font-size:18px"><em>Vijay Kumar Shah, Chairman of Jawlakhel Group of Industries, in this file photo taken by New Business Age.</em></span></p>

<p><span style="font-size:18px"><span style="font-family:Times"><span style="font-family:&quot;Bangla MN&quot;">November 23: Vijay Kumar Shah has dethroned Siddhartha Rana as the highest taxpayer of Nepal in individual category. Rana had remained as the highest taxpayer of the country for the last seven years. </span></span></span></p>

<p><span style="font-size:18px"><span style="font-family:Times"><span style="font-family:&quot;Bangla MN&quot;">Meanwhile, Surya Nepal retained its position as the highest taxpaying company of Nepal. </span></span></span></p>

<p><span style="font-size:18px"><span style="font-family:Times"><span style="font-family:&quot;Bangla MN&quot;">As per the details made public by the Inland Revenue Department on the occasion of the Ninth National Tax Day, Vijay Kumar Shah has been declared as the highest taxpayer of Nepal in individual category.</span></span></span></p>

<p><span style="font-size:18px"><span style="font-family:Times"><span style="font-family:&quot;Bangla MN&quot;">Shah is the chairman of Jawlakhel Group of Companies. Shah, who is involved in liquor business, produces Ruslan Vodka, Golden Oak and Warsteiner Beer.</span></span></span></p>

<p><span style="font-size:18px"><span style="font-family:Times"><span style="font-family:&quot;Bangla MN&quot;">In most of the other categories, the highest taxpayers were the same companies as in the past.</span></span></span></p>

<p><span style="font-size:18px"><span style="font-family:Times"><span style="font-family:&quot;Bangla MN&quot;">Surya Nepal paid a tax of Rs 5.31 billion to retain its position as the top taxpayer company of Nepal.</span></span></span></p>

<p><span style="font-size:18px"><span style="font-family:Times"><span style="font-family:&quot;Bangla MN&quot;">Similarly, Dabur Nepal was declared as the highest taxpayer in export section. Dabur Nepal had won the same accolade even last year.</span></span></span></p>

<p><span style="font-size:18px"><span style="font-family:Times"><span style="font-family:&quot;Bangla MN&quot;">Likewise, the honour of the highest taxpayer among special industry was bagged by Himal Power Limited. </span></span></span></p>

<p><span style="font-size:18px"><span style="font-family:Times"><span style="font-family:&quot;Bangla MN&quot;">In the business section, Agni Incorporated won the title as the highest taxpayer. Agni Incorporated is the authorised distributor of Mahindra vehicles in Nepal.</span></span></span></p>

<p><span style="font-size:18px"><span style="font-family:Times"><span style="font-family:&quot;Devanagari Sangam MN&quot;">Among the tourism enterprises, Taragaun Regency Hotel was declared as the highest taxpayer.</span></span></span></p>

<p><span style="font-size:18px"><span style="font-family:Times"><span style="font-family:&quot;Devanagari Sangam MN&quot;">Likewise, Nabil Bank was the highest taxpayers from among the banks and financial institutions. </span></span></span></p>

<p><span style="font-size:18px"><span style="font-family:Times"><span style="font-family:&quot;Devanagari Sangam MN&quot;">Other institutions to emerge as the highest taxpayers in their respective areas were Nepal Reinsurance Company Limited (insurance), IME Limited (remittance), Manipal Education and Medical Group Nepal (education), Annapurna Agro Industries (agriculture), Chimek Microfinance (microfinance) among others.</span></span></span></p>

<p><span style="font-size:18px"><span style="font-family:Times"><span style="font-family:&quot;Devanagari Sangam MN&quot;">Ghorahi Cement was honoured for paying the taxes in time and also providing timely VAT details since the last ten years. Ghorahi Cement was also the highest taxpayer in VAT section last year.</span></span></span></p>

<p><span style="font-size:18px"><span style="font-family:Times"><span style="font-family:&quot;Devanagari Sangam MN&quot;">The government has been observing the National Tax Day on the first of Mangsir (November 15) every year but the programme was delayed this year due to coronavirus as well as Tihar festival.</span></span></span></p>

<p><span style="font-size:18px"><span style="font-family:Times"><span style="font-family:&quot;Devanagari Sangam MN&quot;">The IRD informed that they will organize a formal programme to felicitate the highest taxpayers after the coronavirus infection subsides.</span></span></span></p>

<p>&nbsp;</p>
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	(int) 11 => array(
		'Article' => array(
			'id' => '12700',
			'article_category_id' => '1',
			'title' => 'Government Seeks Clarification on Fake Covid-19 Reports from 4 Private Hospitals ',
			'sub_title' => '',
			'summary' => 'November 23: The government has sought clarifications from labs of four hospitals in Kathmandu on suspicion of certifying false PCR reports.',
			'content' => '<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:Arial">November 23: The government has sought clarifications from labs of four hospitals in Kathmandu on suspicion of certifying false PCR reports.</span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:Arial">A meeting of the Incident Command System (ICS) of health ministry on Sunday decided to seek clarifications from Star Hospital, Central Diagnostic Laboratory, Surya Health Care Hospital and HAMS regarding this issue. The four hospitals have been given 24 hours to furnish their clarification.</span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:Arial">Ministry of Culture, Tourism and Civil Aviation had written letters to the health ministry and the Covid-19 Crisis Management Centre (CCMC) to investigate the matter as Nepali nationals undergoing tests at those hospitals tested positive for coronavirus in foreign countries soon after leaving the country. In most of the cases, the hospitals had certified their report as negative for coronavirus.</span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:Arial">Many passengers who left the country through various airlines with the certificates provided by private hospitals&rsquo; labs were found infected during tests conducted at airports of foreign countries.</span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:Arial">The first of such incident was reported on October 3 when six Nepali nationals travelled to Hong Kong through a regular flight of Nepal Airlines tested positive for the disease despite getting clearance from the private hospitals. Hong Kong allows entry of people having negative report of less than 72 hours. But the six passengers tested positive and the Civil Aviation Department of Hong Kong subsequently banned Nepal Airlines Corporation for two weeks.</span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:Arial">Suspecting that the private labs of Nepal had provided the passengers with fake certificates, the tourism ministry had written a letter to the health ministry to investigate the matter on November 13.</span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:Arial">The labs are supposed to store the samples of blood for one month in case the report comes negative while they have to store the samples for three months if the result is positive. However, the labs were found not to have maintained the records.</span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:Arial">Spokesperson at the Ministry of Health and Population Dr Jageshwar Gautam informed that the four hospitals were asked to submit clarifications because they did not preserve the samples.</span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:Arial">The Emergency Health and Disaster Management Centre has formed a three-member probe committee headed by Dr Mukunda Sharma of the National Public Health Lab, Teku to investigate into the matter.</span></span></span></span></p>

<p>&nbsp;</p>
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	(int) 12 => array(
		'Article' => array(
			'id' => '12699',
			'article_category_id' => '266',
			'title' => 'NRCS and Coca-Cola Nepal begin Second Phase of Distributing Health Equipment',
			'sub_title' => '',
			'summary' => 'November 22: Coca-Cola and Nepal Red Cross Society (NRCS) have commenced the second phase of handing over of safety gears and equipment to various hospitals and volunteers to enhance the safety of health workers, patients and volunteers working in the frontline against Covid-19 pandemic.',
			'content' => '<p><span style="font-size:11pt"><span style="font-family:Calibri"><span style="font-size:12.0pt"><span style="font-family:Arial">November 22: </span></span><span style="font-size:12.0pt"><span style="font-family:Arial">Coca-Cola and Nepal Red Cross Society (NRCS) have commenced the second phase of handing over of safety gears and equipment to various hospitals and volunteers to enhance the safety of health workers, patients and volunteers working in the frontline against Covid-19 pandemic.</span></span></span></span></p>

<p><span style="font-size:11pt"><span style="font-family:Calibri"><span style="font-size:12.0pt"><span style="font-family:Arial">Coca-Cola said in a statement that the total value of the equipment to be handed over to the Government of Nepal for use in various hospitals is approximately Rs 14 million. </span></span></span></span></p>

<p><span style="font-size:11pt"><span style="font-family:Calibri"><span style="font-size:12.0pt"><span style="font-family:Arial">Under this partnership, ventilators will be handed over to the major hospitals in all the seven provinces of the country and personal safety equipment (PPE) will be handed over to the health workers and volunteers, the company added.</span></span></span></span></p>

<p><span style="font-size:11pt"><span style="font-family:Calibri"><span style="font-size:12.0pt"><span style="font-family:Arial">The second phase of the safety gears and equipment distribution campaign kicked off on November 19 in the presence of Minister for Health and Population Bhanu Bhakta Dhakal at the Ministry of Health and Population. </span></span></span></span></p>

<p><span style="font-size:11pt"><span style="font-family:Calibri"><span style="font-size:12.0pt"><span style="font-family:Arial">Appreciating the joint efforts for the second phase, Minister Dhakal expressed his commitment to distribute ventilators provided by the Red Cross in collaboration with Coca-Cola. </span></span></span></span></p>

<p><span style="font-size:11pt"><span style="font-family:Calibri"><span style="font-size:12.0pt"><span style="font-family:Arial">According to the company, Minister Dhakal handed over the equipment provided by NRCS and Coca-Cola to Sagar Rajkarnikar, director of Sukraraj Tropical and Infectious Diseases Hospital, Teku. </span></span></span></span></p>

<p><span style="font-size:11pt"><span style="font-family:Calibri"><span style="font-size:12.0pt"><span style="font-family:Arial">The company had provided 100 sets of safety glasses, 120 boxes of surgical mask, 150 sets of PPE, 50 boxes of gloves and 200 sets of KN -95 masks.</span></span></span></span></p>

<p><span style="font-size:11pt"><span style="font-family:Calibri"><span style="font-size:12.0pt"><span style="font-family:Arial">Similarly, 48,000 units of surgical masks, 1,600 units of KN-95 masks, 550 sets of PPE, 400 pairs of safety glasses and 10,000 pairs of gloves along with one ventilator each will be handed over to the designated hospitals in seven provinces within the next two weeks, the statement further said. </span></span></span></span></p>

<p><span style="font-size:11pt"><span style="font-family:Calibri"><span style="font-size:12.0pt"><span style="font-family:Arial">Arrangements have been made to handover the equipment to Koshi Zonal Hospital in Morang, Narayani Sub-Regional Hospital in Parsa, Bharatpur Hospital in Chitwan, Pokhara Health Science Hospital of Kaski, Bheri Zonal Hospital in Banke, Midwest Regional Hospital in Surkhet and Seti Zonal Hospital in Kailali.</span></span></span></span></p>

<p><span style="font-size:11pt"><span style="font-family:Calibri"><span style="font-family:Arial">&ldquo;As Nepal fights to contain COV1D-19, we all need to ensure there is ample support provided to the Government. Coca-Cola&rsquo;s partnership with Nepal Red Cross provides </span><span style="font-family:Arial">safety gear for front line workers and ventilators for the treatment of patients,&rdquo; said Pradip Pandey, managing director of Bottlers Nepal Limited, that produces Coca-Cola in Nepal. </span></span></span></p>

<p><span style="font-size:11pt"><span style="font-family:Calibri"><span style="font-size:12.0pt"><span style="font-family:Arial">&quot;This partnership between Nepal Red Cross Society and Coca-Cola in Nepal is an effort to prevent and control the spread of coronavirus and protect frontline health workers and patients,&quot; Nepal Red Cross Society&rsquo;s Acting Chairperson Sarmila Karki said.</span></span></span></span></p>

<p>&nbsp;</p>
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		'Article' => array(
			'id' => '12698',
			'article_category_id' => '1',
			'title' => 'Merger of Udayapur and Hetauda Cement Industries in Dilemma ',
			'sub_title' => '',
			'summary' => 'November 22: The merger of Udayapur Cement Industries and Hetauda Cement has become uncertain as the two state owned companies have shown no interest in merger.',
			'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;">November 22: The merger of Udayapur Cement Industries and Hetauda Cement has become uncertain as the two state owned companies have shown no interest in merger.</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;">Although the merger of the two industries was initiated in last July by drafting a Terms of Reference (ToR), the process has not gained momentum as both the industries have not responded to the government initiative.</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;">The government had formed a committee during last May to merge these two entities. </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;">According to a source at the Ministry of Industry, Commerce and Supplies, the merger process is in dilemma as they have not received any reply from the two industries. The source said that last July, the ministry had asked the industries for a written reply on whether they agree or disagree on merging and the pros and cons of the merger. As no information has been received from both the cement industries so far, no discussion has taken place to take the merger process ahead. </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;">&ldquo;There might have been some delays due to the coronavirus infection and due to the delay in discussion with the trade union of the industries,&rdquo; the source said, adding, &ldquo;We are waiting for their response.&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;">Earlier, the merger of Hetauda and Udayapur Cement Industries was delayed after the coordinator of the committee was transferred. </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;">A committee consisting of a mechanical engineer and the representatives from the Ministry of Finance and the Office of the Company Registrar has been formed under the leadership of the Joint Secretary of the Ministry of Industry, Commerce and Supply to analyze the financial prospects and technical condition of the two industries and make suggestions. </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;">The government has been claiming that the merger strategy has been adopted to reduce the administrative cost and to use the technical skills of one company for the benefit of &nbsp;another as the two companies are of the same nature, but are being operated under different managements. </span></span></span></span></p>

<p>&nbsp;</p>

<p>&nbsp;</p>
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		'Article' => array(
			'id' => '12697',
			'article_category_id' => '237',
			'title' => '  Xiaomi Bounces Back to ‘Number 1 Position’ in Smartphone Market of Nepal',
			'sub_title' => '',
			'summary' => 'November 22: Chinese smartphone brand Xiaomi announced that it has yet again become the number one smartphone brand in Nepal.',
			'content' => '<p><span style="font-size:18px"><span style="font-family:Calibri">November 22: Chinese smartphone brand Xiaomi announced that it has yet again become the number one smartphone brand in Nepal, as per the latest Worldwide Quarterly Mobile Phone Tracker Report (Q3 2020) of the leading market research firm, IDC. </span></span></p>

<p><span style="font-size:18px"><span style="font-family:Calibri">This is the second time that the brand has climbed to the number one position after becoming the market leader in smartphones for Nepal in Q1 2020, says a statement issued by the company.&nbsp;</span></span></p>

<p><span style="font-size:18px"><span style="font-family:Calibri">Currently holding a market share of 34.1% based on unit shipment, the brand has bagged the top position in Nepal for the smartphone category riding on the successful launch of a series of smartphones across Mi and Redmi, the statement added.&nbsp;</span></span></p>

<p><span style="font-size:18px"><span style="font-family:Calibri">Sourabh Kothari, country general manager of Xiaomi for Nepal, said, &ldquo;We are ecstatic to be the #1 smartphone brand in Nepal again as per IDC report for Q3 2020. We are humbled by the love and support that we have received from our Mi Fans and it has helped us come closer to our mission of providing innovation for all. We shall continue to work towards our commitment of gaining our users&rsquo; sustained trust and appreciation through constant innovation across our products, business model and infrastructure.&rdquo;</span></span></p>

<p><span style="font-size:18px"><span style="font-family:Calibri">According to the company, the brand witnessed significant growth in the market with the launch of a series of great smartphones offering top of the line specifications at multiple price points starting from Redmi 9A, Redmi 9C, Redmi 9, Redmi Note 9, Redmi Note 9 Pro and Redmi Note 9 Pro Max. </span></span></p>

<p><span style="font-size:18px"><span style="font-family:Calibri">Xiaomi said it has been working with its online selling partners Daraz.com and Sastodeal in Nepal contributing massively to the brand&rsquo;s wide reach in the country. </span></span></p>

<p><span style="font-size:18px"><span style="font-family:Calibri">&ldquo;The offline expansion added to the overall growth with Xiaomi setting up more than 1600+ offline partner stores with 350+ Mi Preferred Partner stores across the country, strengthening their presence in Nepal. The company currently holds a strong distribution network across locations. They have also fortified their position in the market with robust after sales service through exclusive authorized service centers as well a dedicated service warehouse to fulfill customer requirements in Nepal,&rdquo; the statement added.</span></span></p>

<p>&nbsp;</p>
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		'Article' => array(
			'id' => '12711',
			'article_category_id' => '266',
			'title' => 'Berger Paints Nepal announces winners of 'Berger Color Splash 2076’',
			'sub_title' => '',
			'summary' => 'November 24: Berger Paints Nepal, manufacturer of decorative paints in Nepal since 2000, has announced the winners of its consumer offer 'Berger Color Splash'.',
			'content' => '<p><span style="font-size:18px"><span style="font-family:Calibri">November 24: Berger Paints Nepal, manufacturer of decorative paints in Nepal since 2000, has announced the winners of its consumer offer &#39;Berger Color Splash&#39;.</span></span></p>

<p><span style="font-size:18px"><span style="font-family:Calibri">The scheme was launched in the festive season of Dashain and Tihar 2076 where the customers purchasing selected Berger products won 100 sq ft of Silk Illusion Designers Finish as sure shot reward and also got chance to win exciting prizes through lucky draw and digital contest.</span></span></p>

<p><span style="font-size:18px"><span style="font-family:Calibri">The company said in a statement that 178 winners out of 6000+ participants were announced through a live lucky draw. </span></span></p>

<p><span style="font-size:18px"><span style="font-family:Calibri">According to the company, Jay Nath Sapkota of Biratnagar won the bumper prize of Rs 500,000.</span></span></p>

<p><span style="font-size:18px"><span style="font-family:Calibri">Similarly, Purna Man Gurung of Birtamode and Ramesh Shrestha of Kathmandu both won the first prize which includes a trip to London.</span></span></p>

<p><span style="font-size:18px"><span style="font-family:Calibri">Other 25 winners bagged 32&rdquo; Samsung Television as second prize, while 50 winners received domestic trip as third prize. The company said that 100 winners got Samsung M20 as consolation prize during the lucky draw.</span></span></p>

<p><span style="font-size:18px"><span style="font-family:Calibri">Among the winners from the Digital Contest, Durga Lammichanne and Suresh Lammichhane has won Rs 100,000 each in exterior category whereas Manoj Sitaula and Chanu Khadka Bhandari has won Rs 100,000 each in interior category as first prize. </span></span></p>

<p><span style="font-size:18px"><span style="font-family:Calibri">Aim Bahadur Basnet and Sarala Adhikari has won Rs 50,000 each in exterior category whereas Raju Lama and Hem Prasad Dhakal won Rs 50,000 each in interior category as second prize. Basanta Kumar Basnet and Lila Khadka has won Rs 25,000 in exterior category whereas, Ghadendra Rai and Dhan Bahadur Basnet won Rs 25,000 each in interior category as third prize. </span></span></p>

<p>&nbsp;</p>
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		'Article' => array(
			'id' => '12710',
			'article_category_id' => '1',
			'title' => 'NCHL Working to Ensure Inter-Bank Card Settlement under the National Payment Switch',
			'sub_title' => '',
			'summary' => 'November 24: Nepal Clearing House Limited (NCHL) has started initial phase of work for developing the National Payment Switch as per the understanding reached with the central bank in this regard.',
			'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;">November 24: Nepal Clearing House Limited (NCHL) has started initial phase of work for developing the National Payment Switch as per the understanding reached with the central bank in this regard.</span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;">NCHL informed that it is making necessary preparations for inter-bank card settlement in the first phase.</span></span></span></span></p>

<p><span 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 said that it is currently conducting study for developing the National Payment Switch but hasn&rsquo;t started technical works yet.</span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;">CEO of NCHL Nilesn Man Singh Pradhan informed New Business Age that they are currently studying the modus operandi of the national payment switches of neighbouring countries like India, Sri Lanka and 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;After the study is complete, we will develop a national payment switch which is best suited for Nepal considering the technological advancement of the country and the requirement of businesses and volume of transaction,&rdquo; said Pradhan.</span></span></span></span></p>

<p><span 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 don&rsquo;t have transactions as big as that of India. So we will use a system that is suitable for us,&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;">CEO Pradhan said that the project is one of the big projects of the country and cannot specifically say when it will be completed.</span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;">He argues that such switch is categorized under long-term projects in foreign countries. Pradhan added that they will first identify the components which they require urgently and work towards setting them up in phase-wise manner.</span></span></span></span></p>

<p><span 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;In the first phase, we will ensure inter-bank card settlement,&rdquo; said Pradhan.</span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;">At present, the central bank has instructed commercial banks not to charge customers for inter-bank ATM transaction. As Nepal does not have its own payment switch, the banks have been forced &nbsp;pay a minimum of Rs 12 for such transaction to foreign developers. BFIs have been paying hefty amount to international payment gateways like Visa and Master Card because the country lacks its own national payment gateway.</span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;">Banks of Nepal have been making payment for transactions through debit and credit cards by using payment switches of foreign countries.</span></span></span></span></p>

<p><span 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 country has been spending lots of money to foreign banks for the payments made through point of sales machines placed at shopping malls across 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;">In this context, a national payment switch is expected to reduce the cost of the banks to a great extent.</span></span></span></span></p>

<p>&nbsp;</p>
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			'id' => '12709',
			'article_category_id' => '1',
			'title' => 'Finance Minister warns of Action against Govt Staffers if they Fail to Meet Revenue Target ',
			'sub_title' => '',
			'summary' => 'November 24: Finance minister Bishnu Prasad Poudel has warned government  employees that they will be punished if they do not meet the revenue collection target mentioned in the budget statement of the current fiscal year. ',
			'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;">November 24: Finance minister Bishnu Prasad Poudel has warned government &nbsp;employees that they will be punished if they do not meet the revenue collection target mentioned in the budget statement of the current fiscal year. He also said that the employees who achieve the target will be rewarded. </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;">Speaking with the finance secretary, director general of Inland Revenue Department and customs department on Monday, he directed the officials to perform their work to meet the aim despite facing the challenges created by covid-19.&nbsp; </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;">Out of the target of 25 percent revenue collection in the first four months of the current fiscal year, the government was able to collect 24 percent revenue. According to the Ministry of Finance, Rs 240.15 billion revenue has been collected in the first four months. </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;">The finance minister gave such directive after failing to meet the revenue target in the first four months. Explaining that the employees should not be pressurized to work with fear and intimidation, he stressed on creating favorable working conditions with respect to qualifications and abilities.</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;&ldquo;The ministry provides support, facilitation and encouragement to solve difficulties and problems. If the goal is achieved, we respect it. If not, you should be punished,&rdquo; he said. </span></span></span></span></p>

<p>&nbsp;</p>

<p>&nbsp;</p>
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			'article_category_id' => '1',
			'title' => 'State-Owned Company to Extract Iron Using Locally Available Resources in Nawalparasi',
			'sub_title' => '',
			'summary' => 'November 24: The state-owned Dhaubadhi Iron Limited has finalized the technology for extracting iron from its Nawalparasi-based mine after it was deemed commercially viable to extract ore from the mine.',
			'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;">November 24: The state-owned Dhaubadhi Iron Limited has finalized the technology for extracting iron from its Nawalparasi-based mine after it was deemed commercially viable to extract ore from the mine.</span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;">A report prepared after sending samples of raw materials extracted from the mine to China for studying the prospects of commercial extraction has suggested using electric furnace for extracting&nbsp; iron.</span></span></span></span></p>

<p><span 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 suggested using electric furnace considering the utilization of electricity produced in the country. It is also possible to refine iron by using coal but it would incur additional cost to import coal. Therefore, the state-owned company is preparing to use electric furnace for extraction and refining of iron from the mine.</span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;">CEO of the company Krishna Dev Jha informed that China provided them the report about two weeks ago. Jha said that they will opt for electric furnace as per the recommendation of the 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;">&ldquo;We will utilize the resources available in the country and rely less on imported products for extracting iron,&rdquo; said Jha.</span></span></span></span></p>

<p><span 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 is preparing to start the drilling process within the next two weeks (by mid-December) as it has already received the report. It has already selected a consulting firm for the purpose from 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;">The consulting company will drill between 265 meters to 300 meters in five areas of Dhaubadhi and Pokhari where the mine is located. The quantity of iron which can be extracted from the mine will be ascertained after drilling.</span></span></span></span></p>

<p><span 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 company is also preparing to select international consultant company by issuing a public notice for conducting feasibility study and to prepare the detailed project report (DPR).</span></span></span></span></p>

<p><span 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 will begin commercial production of iron only after completing all of the above mentioned processes.</span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;">CEO Jha informed that the company is preparing to set up a steel plant in Kawasoti of Nawalparasi district. They have already started acquiring 150 bigha land for setting up the factory, according to Jha.</span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;">He further informed that 1,500 metric tons of iron can be produced on a daily basis after the company starts production.</span></span></span></span></p>

<p><span 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 the government had been announcing financial support for the mine since the last few years, it could not be implemented as the report was yet to arrive from China.</span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;">The company has received Rs 250 million during the last fiscal&nbsp; year while the government has allocated Rs 1.5 billion this year.</span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;">The federal government has been looking after the financial matters of the company which has been set up with a total capital of Rs 10 billion. The private sector has 45 percent stakes at the company.</span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;">The company was set up in public private partnership model after the government on August 20 decided to open a company specifically for extraction of mines.</span></span></span></span></p>

<p>&nbsp;</p>
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	(int) 4 => array(
		'Article' => array(
			'id' => '12707',
			'article_category_id' => '1',
			'title' => 'Sugar Mills Preparing to Sell Electricity from this Season',
			'sub_title' => '',
			'summary' => 'November 24: Three sugar mills are preparing to sell electricity to Nepal Electricity Authority this season. ',
			'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;">November 24: Three sugar mills are preparing to sell electricity to Nepal Electricity Authority this season. Everest Sugar Mills of Mahottari, Indu Shankar Sugar Mills of Sarlahi and Reliance Sugar Mills of Bara are making necessary preparations to sell the electricity that they produce themselves from the waste product of sugarcane. </span></span></span></span></p>

<p><span 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 of Nepal Sugar Producers Association Sashikanta Agrawal said that they are preparing to sell electricity from this winter season when the government faces shortage of electricity.</span></span></span></span></p>

<p><span 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 sugar mills are planning to sell 7 megawatts of electricity this season. Agrawal says that they are in the final phase of preparation for selling the electricity which they produce from biomass. </span></span></span></span></p>

<p><span 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 have already made preparations to connect the transmission line from the mills to the nearest sub-station,&rdquo; said Agrawal, who is the proprietor of Everest Sugar Mills. </span></span></span></span></p>

<p><span 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;Altogether three sugar mills are in a position to sell a total of 7 megawatts of electricity from this season,&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;">Indu Shankar and Everest sugar mills have already taken permission from the Department of Electricity Development to produce 3 megawatts of electricity each. They have also signed an agreement with the NEA to purchase or sell electricity at the &ldquo;posted rate&rdquo; of Rs 8.4 per unit. </span></span></span></span></p>

<p><span 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, Reliance Sugar Mills, which has taken permission from the board to survey the possibility of producing 10 megawatts of electricity, is also preparing to sell excess of electricity from this season. The company, however, is yet to acquire license, informed Director General of the department Navin Raj Singh.</span></span></span></span></p>

<p><span 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 sugar mills will be operational within a month. Operators of the mills say they will be in a position to sell electricity as soon as they start producing sugar. NEA says that it can purchase electricity from sugar mills with whom it has signed power purchase agreements (PPA).</span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;">Sugar mills normally operate during the winter season from mid-December to mid-April. The electricity produced by sugar mills by burning biomass is considered of great significance, especially because the production of hydroelectricity is reduced to a great extent during winter season.</span></span></span></span></p>
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	(int) 5 => array(
		'Article' => array(
			'id' => '12706',
			'article_category_id' => '1',
			'title' => 'Nepal’s Bilateral Trade with China Shrinks by Rs 20 Billion',
			'sub_title' => '',
			'summary' => 'November 24: The government’s inability to fully operate Nepal’s customs points in the northern border is taking toll on trade between Nepal and China. ',
			'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;">November 24: The government&rsquo;s inability to fully operate Nepal&rsquo;s customs points in the northern border is taking toll on trade between Nepal and China. The disruption in movement of goods from the border points since late January has reduced the volume of trade with China, which is Nepal&rsquo;s second largest trade partner.</span></span></span></span></p>

<p><span 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 made public by the Department of Customs, Nepal&rsquo;s bilateral trade with China declined by Rs 20 billion in the first four months of the current fiscal year compared to the corresponding period of last fiscal year.</span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;">The department informed that the volume of bilateral trade with China during the review period was worth Rs 60.41 billion. Nepal&rsquo;s trade with China during the same period of last fiscal year was of Rs 80.89 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;">Both export and import with China had increased since the 2015 earthquake but the figures took a nosedive since coronavirus started spreading from China late last year. </span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;">During the review period of last fiscal year, Nepal exported goods worth Rs 710 million to China while it imported goods worth Rs 80.18 billion from the northern neighbor. This year, the import has been limited to Rs 60.12 billion while Nepal&rsquo;s export has also dropped to 209 million.</span></span></span></span></p>

<p><span 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 border transit points with China that were closed since January are yet to fully reopen. Only the Tatopani and Rasuwagadhi customs points are partially operational.</span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;">Hundreds of containers used to enter Nepal on a daily basis prior to the emergence of coronavirus. The entry of containers has dropped to hardly five per day at present.</span></span></span></span></p>

<p><span 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&rsquo;s trade with&nbsp; China has been badly affected because Nepali containers are not allowed to go across the border to bring back goods, says Bachhu Poudel, chairman of Nepal Trans-Himalayan Border Commerce 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;">The border which was completely closed in late January was brought into operation in May, according to the government. But the customs points have not become fully operational till date, says Poudel.</span></span></span></span></p>

<p><span 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;Hundreds of containers used to enter Nepal every day in the past but hardly five of them enter the country these days,&rdquo; said Poudel.</span></span></span></span></p>

<p><span 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 of Customs informed that Nepal&rsquo;s overall foreign trade is returning back to normalcy although the customs points with China remain affected.</span></span></span></span></p>

<p><span 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 department, the country has imported goods worth Rs 402 billion in the first four months of the current fiscal year, which&nbsp; is less than that of the last fiscal&nbsp; year by only ten percent.</span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;">Director General of the Department of Customs Suman Dahal says that Nepal&rsquo;s foreign trade must be considered satisfactory because the government has adopted a policy of increasing exports and reducing imports.</span></span></span></span></p>

<p>&nbsp;</p>
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	(int) 6 => array(
		'Article' => array(
			'id' => '12705',
			'article_category_id' => '1',
			'title' => 'Profit of Development Banks Shrinks by 25 Percent ',
			'sub_title' => '',
			'summary' => 'November 23: The coronavirus pandemic has affected the entire banking sector of the country and has impacted the net profit of development banks.',
			'content' => '<p><span style="font-size:12pt"><span style="font-family:Cambria"><span style="font-size:14.0pt"><span style="font-family:Calibri">November 23: The coronavirus pandemic has affected the entire banking sector of the country and has impacted the net profit of development banks. Out of 18 development banks, the net profit growth rate of seven development banks in the first quarter of the current fiscal year has been negative as compared to the previous fiscal year.</span></span></span></span></p>

<p><span style="font-size:12pt"><span style="font-family:Cambria"><span style="font-size:14.0pt"><span style="font-family:Calibri">According to the financial report of the first quarter made public by all the development banks, the total net profit till September was Rs 902.7 million while they made a profit of Rs 1.20 billion in the previous fiscal year. Compared to last year, the total net profit growth rate of development banks has shrunk by 25 percent. Three development banks have incurred net losses while the distributable profits of seven banks have turned negative.</span></span></span></span></p>

<p><span style="font-size:12pt"><span style="font-family:Cambria"><span style="font-size:14.0pt"><span style="font-family:Calibri">As the profit growth rate of Jyoti, Garima, Exel, Shangrila, Shine Resunga, Corporate, and Karnali Development Bank has been lower than last year, the overall net profit of the development banks has shrunk by about 26 percent. Despite the overall contraction in the bank&#39;s profit, the profit growth rate of the remaining 11 development banks are encouraging.</span></span></span></span></p>

<p><span style="font-size:12pt"><span style="font-family:Cambria"><span style="font-size:14.0pt"><span style="font-family:Calibri">Meanwhile, Muktinath Development Bank has made the highest profit among the development banks. The bank has managed to earn a net profit of Rs 294.159 million in the first quarter. In the corresponding period of the previous year, it earned a profit of Rs 228.7 million. Compared to last year, the bank&#39;s profit has increased by 22.23 percent. The distributable profit of the bank is Rs. 152.1 million. </span></span></span></span></p>

<p><span style="font-size:12pt"><span style="font-family:Cambria"><span style="font-size:14.0pt"><span style="font-family:Calibri">Pradyumna Pokharel, CEO of Muktinath Development Bank, informed that the bank has managed to earn net profit due to the increase in interest income.</span></span></span></span></p>

<p>&nbsp;</p>
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	(int) 7 => array(
		'Article' => array(
			'id' => '12704',
			'article_category_id' => '1',
			'title' => 'Operation of Fair-Price Shops Extended till January 12 ',
			'sub_title' => '',
			'summary' => 'November 23: The state-owned Food Management and Trade Company Limited (FMTCL) has decided to operate fair-price shops till January 12.',
			'content' => '<p><em>This picture shows online shopping promoted by FMTCL in collaboration with Khalti. Photo Courtesy: Khalti/Facebook</em></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;">November 23: The state-owned Food Management and Trade Company Limited (FMTCL) has decided to operate fair-price shops till January 12. The government is going to operate the fair-price shops targeting the Maghe Sankranti festival for the first time. Initially, the fair price shop was planned from October 1 to November 21. </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;">The company said that the operation of the fair-price shops was extended due to Maghe Sankranti festival and the dire situation of coronavirus pandemic. The company had operated the fair price shop in 29 places across the country including Thapathali, Ramshah Path, Lagankhel, Suryabinayak, and Nakkhu to facilitate the public during the festive season. </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;">Netra Prasad Subedi, chief executive officer of the company, informed that they will give continuity to the shops till January 12. </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;">According to him, the Salt Trading Corporation and Dairy Development Corporation have not yet decided about giving continuity to the fair-price shops yet. It is said that both the corporations have started internal discussion on extending the deadline of the fair-price shops and a decision may be taken soon. </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;">Sharmila Subedi, information officer of FMTCL, said that the company had set a target of selling 20,000 quintals of goods within Dashan, Tihar and Chhath festivals at subsidized rates. According to her, only 10,000 quintals of food has been sold during this period. In contrast, 18,000 quintals of goods were sold in the same period last year. </span></span></span></span></p>

<p><span style="font-size:11pt"><span style="font-family:Calibri"><span style="font-size:14.0pt"><span style="font-family:&quot;Times New Roman&quot;">Goods like rice, pulses, peas, buckwheat, vegetable oil, salt, sugar, flour, ghee, cottage cheese, sanitizer, induction gas stove and goats were sold at the fair-price shops. The three companies also exchanged products and sold food items to diversify their products. </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;">The government operates festival-oriented fair-price shops every year with the expectation that it will help curb the problem of unnecessary price hikes and market price interventions during the festive season. </span></span></span></span></p>

<p>&nbsp;</p>
',
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	(int) 8 => array(
		'Article' => array(
			'id' => '12703',
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			'title' => 'Act Like Public Servants, not Administrators: Finance Minister',
			'sub_title' => '',
			'summary' => '',
			'content' => '<p><em>Finance Minister Bishnu Poudel.</em></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:Arial">November 23: Finance Minister Bishnu Poudel has stressed on the need to increase the ambit of tax and to minimize tax leakage in order to increase revenue collection.</span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:Arial">Speaking at the inauguration of a new building of Inland Revenue Office in Jorpati, Minister Poudel pointed out to the need of increasing participation of people in voluntary payment of tax. &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:Arial">He also instructed revenue officials to strictly implement market monitoring, research, administrative review, collection of taxes and clearance of arrears.</span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:Arial">He also instructed the concerned authorities to adopt customer-friendly approach, facilitate in tax payment process, cost reduction and use of technology as much as possible.</span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:Arial">The minister also directed all the offices under the Inland Revenue Department to increase the reach of taxation and to work toward changing the perception of the public toward tax officials.</span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:Arial">Minister Poudel was of the view that a strong base for tax collection is possible only through a healthy commercial relation between the tax payers and the tax collectors. He added that the National Tax Day would play a vital role to bridge the gap.</span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:Arial">He also told the tax officials to act like a public servant and not like administrators in order to encourage the public to pay taxes.</span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:Arial">Finance Minister Poudel also claimed that the government succeeded in attaining the revised target of tax collection despite an economic meltdown due to coronavirus and subsequent lockdown as well as restrictions in the last fiscal year.</span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:Arial">He also thanked the government employees who worked relentlessly in revenue collection despite the threat of coronavirus.</span></span></span></span></p>

<p>&nbsp;</p>
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	(int) 9 => array(
		'Article' => array(
			'id' => '12702',
			'article_category_id' => '1',
			'title' => 'Nepali Exporters Shift the Focus to Soybean Oil ',
			'sub_title' => '',
			'summary' => 'November 23: Nepali exporters have shifted their focus towards exporting refined soybean oil after India banned the import of palm oil more than six months ago.',
			'content' => '<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Bangla MN&quot;">November 23: Nepali exporters have shifted their focus towards exporting refined soybean oil after India banned the import of palm oil more than six months ago.</span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Bangla MN&quot;">The exporters of Nepal has been processing soybean oil ever since India banned import of palm oil in May.</span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Bangla MN&quot;">Soybean oil has replaced palm oil as the top export product of Nepal. Palm oil was the chief export product of Nepal until last year although Nepal doesn&rsquo;t cultivate palm oil itself.</span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Bangla MN&quot;">A review of export through Birgunj customs show that the export of soybean to India in the first quarter of the current fiscal year has increased by five times compared to the corresponding period of last fiscal year.</span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Bangla MN&quot;">In the first four months of the current fiscal year, Nepal exported 48,281 metric tons of soybean oil worth Rs 6.83 billion to India. The export of soybean oil during the same period of last fiscal year was just 10,519 metric tons worth Rs 1.33 billion, informed customs officer Ramesh Sukhmani.</span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Bangla MN&quot;">Birgunj is the main customs point of Nepal from where refined edible oils are exported to India and third countries.</span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Bangla MN&quot;">Nepal had exported palm oil of Rs 18.31 billion in total during the last fiscal year. The export of palm oil through Birgunj alone was worth Rs 11.72 billion which is almost 60 percent of the total export.</span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Bangla MN&quot;">Out of two dozen industries that produce refined oil in Nepal, 14 are located in Birgunj area, informed Suresh Rungata, operator of OCB Food.</span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Bangla MN&quot;">&ldquo;The export of palm oil came to a sudden halt. The exporters then shifted their focus to soybean oil, which has provided them some relief,&rdquo; said Rungata.</span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Bangla MN&quot;">Nepali exporters have been processing unrefined oil and exporting the refined products to India and other countries. They had been charging 30 percent more for the refined product and exporting them to India without paying any customs duty under a concessional scheme of the Indian government.</span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt">India has imposed a heavy customs duty on import of products like palm oil in order to protect its local farmers and industries. India charges 37.5 percent customs duty on oil and 45 percent on readymade goods from countries other than SAARC nations.</span></span></span></p>

<p>&nbsp;</p>
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		'Article' => array(
			'id' => '12701',
			'article_category_id' => '1',
			'title' => 'Shah Deposes Rana as Highest Taxpayer of Nepal in Individual Category',
			'sub_title' => '',
			'summary' => 'November 23: Vijay Kumar Shah has dethroned Siddhartha Rana as the highest taxpayer of Nepal in individual category.',
			'content' => '<p><span style="font-size:18px"><em>Vijay Kumar Shah, Chairman of Jawlakhel Group of Industries, in this file photo taken by New Business Age.</em></span></p>

<p><span style="font-size:18px"><span style="font-family:Times"><span style="font-family:&quot;Bangla MN&quot;">November 23: Vijay Kumar Shah has dethroned Siddhartha Rana as the highest taxpayer of Nepal in individual category. Rana had remained as the highest taxpayer of the country for the last seven years. </span></span></span></p>

<p><span style="font-size:18px"><span style="font-family:Times"><span style="font-family:&quot;Bangla MN&quot;">Meanwhile, Surya Nepal retained its position as the highest taxpaying company of Nepal. </span></span></span></p>

<p><span style="font-size:18px"><span style="font-family:Times"><span style="font-family:&quot;Bangla MN&quot;">As per the details made public by the Inland Revenue Department on the occasion of the Ninth National Tax Day, Vijay Kumar Shah has been declared as the highest taxpayer of Nepal in individual category.</span></span></span></p>

<p><span style="font-size:18px"><span style="font-family:Times"><span style="font-family:&quot;Bangla MN&quot;">Shah is the chairman of Jawlakhel Group of Companies. Shah, who is involved in liquor business, produces Ruslan Vodka, Golden Oak and Warsteiner Beer.</span></span></span></p>

<p><span style="font-size:18px"><span style="font-family:Times"><span style="font-family:&quot;Bangla MN&quot;">In most of the other categories, the highest taxpayers were the same companies as in the past.</span></span></span></p>

<p><span style="font-size:18px"><span style="font-family:Times"><span style="font-family:&quot;Bangla MN&quot;">Surya Nepal paid a tax of Rs 5.31 billion to retain its position as the top taxpayer company of Nepal.</span></span></span></p>

<p><span style="font-size:18px"><span style="font-family:Times"><span style="font-family:&quot;Bangla MN&quot;">Similarly, Dabur Nepal was declared as the highest taxpayer in export section. Dabur Nepal had won the same accolade even last year.</span></span></span></p>

<p><span style="font-size:18px"><span style="font-family:Times"><span style="font-family:&quot;Bangla MN&quot;">Likewise, the honour of the highest taxpayer among special industry was bagged by Himal Power Limited. </span></span></span></p>

<p><span style="font-size:18px"><span style="font-family:Times"><span style="font-family:&quot;Bangla MN&quot;">In the business section, Agni Incorporated won the title as the highest taxpayer. Agni Incorporated is the authorised distributor of Mahindra vehicles in Nepal.</span></span></span></p>

<p><span style="font-size:18px"><span style="font-family:Times"><span style="font-family:&quot;Devanagari Sangam MN&quot;">Among the tourism enterprises, Taragaun Regency Hotel was declared as the highest taxpayer.</span></span></span></p>

<p><span style="font-size:18px"><span style="font-family:Times"><span style="font-family:&quot;Devanagari Sangam MN&quot;">Likewise, Nabil Bank was the highest taxpayers from among the banks and financial institutions. </span></span></span></p>

<p><span style="font-size:18px"><span style="font-family:Times"><span style="font-family:&quot;Devanagari Sangam MN&quot;">Other institutions to emerge as the highest taxpayers in their respective areas were Nepal Reinsurance Company Limited (insurance), IME Limited (remittance), Manipal Education and Medical Group Nepal (education), Annapurna Agro Industries (agriculture), Chimek Microfinance (microfinance) among others.</span></span></span></p>

<p><span style="font-size:18px"><span style="font-family:Times"><span style="font-family:&quot;Devanagari Sangam MN&quot;">Ghorahi Cement was honoured for paying the taxes in time and also providing timely VAT details since the last ten years. Ghorahi Cement was also the highest taxpayer in VAT section last year.</span></span></span></p>

<p><span style="font-size:18px"><span style="font-family:Times"><span style="font-family:&quot;Devanagari Sangam MN&quot;">The government has been observing the National Tax Day on the first of Mangsir (November 15) every year but the programme was delayed this year due to coronavirus as well as Tihar festival.</span></span></span></p>

<p><span style="font-size:18px"><span style="font-family:Times"><span style="font-family:&quot;Devanagari Sangam MN&quot;">The IRD informed that they will organize a formal programme to felicitate the highest taxpayers after the coronavirus infection subsides.</span></span></span></p>

<p>&nbsp;</p>
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	(int) 11 => array(
		'Article' => array(
			'id' => '12700',
			'article_category_id' => '1',
			'title' => 'Government Seeks Clarification on Fake Covid-19 Reports from 4 Private Hospitals ',
			'sub_title' => '',
			'summary' => 'November 23: The government has sought clarifications from labs of four hospitals in Kathmandu on suspicion of certifying false PCR reports.',
			'content' => '<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:Arial">November 23: The government has sought clarifications from labs of four hospitals in Kathmandu on suspicion of certifying false PCR reports.</span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:Arial">A meeting of the Incident Command System (ICS) of health ministry on Sunday decided to seek clarifications from Star Hospital, Central Diagnostic Laboratory, Surya Health Care Hospital and HAMS regarding this issue. The four hospitals have been given 24 hours to furnish their clarification.</span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:Arial">Ministry of Culture, Tourism and Civil Aviation had written letters to the health ministry and the Covid-19 Crisis Management Centre (CCMC) to investigate the matter as Nepali nationals undergoing tests at those hospitals tested positive for coronavirus in foreign countries soon after leaving the country. In most of the cases, the hospitals had certified their report as negative for coronavirus.</span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:Arial">Many passengers who left the country through various airlines with the certificates provided by private hospitals&rsquo; labs were found infected during tests conducted at airports of foreign countries.</span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:Arial">The first of such incident was reported on October 3 when six Nepali nationals travelled to Hong Kong through a regular flight of Nepal Airlines tested positive for the disease despite getting clearance from the private hospitals. Hong Kong allows entry of people having negative report of less than 72 hours. But the six passengers tested positive and the Civil Aviation Department of Hong Kong subsequently banned Nepal Airlines Corporation for two weeks.</span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:Arial">Suspecting that the private labs of Nepal had provided the passengers with fake certificates, the tourism ministry had written a letter to the health ministry to investigate the matter on November 13.</span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:Arial">The labs are supposed to store the samples of blood for one month in case the report comes negative while they have to store the samples for three months if the result is positive. However, the labs were found not to have maintained the records.</span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:Arial">Spokesperson at the Ministry of Health and Population Dr Jageshwar Gautam informed that the four hospitals were asked to submit clarifications because they did not preserve the samples.</span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:Arial">The Emergency Health and Disaster Management Centre has formed a three-member probe committee headed by Dr Mukunda Sharma of the National Public Health Lab, Teku to investigate into the matter.</span></span></span></span></p>

<p>&nbsp;</p>
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	(int) 12 => array(
		'Article' => array(
			'id' => '12699',
			'article_category_id' => '266',
			'title' => 'NRCS and Coca-Cola Nepal begin Second Phase of Distributing Health Equipment',
			'sub_title' => '',
			'summary' => 'November 22: Coca-Cola and Nepal Red Cross Society (NRCS) have commenced the second phase of handing over of safety gears and equipment to various hospitals and volunteers to enhance the safety of health workers, patients and volunteers working in the frontline against Covid-19 pandemic.',
			'content' => '<p><span style="font-size:11pt"><span style="font-family:Calibri"><span style="font-size:12.0pt"><span style="font-family:Arial">November 22: </span></span><span style="font-size:12.0pt"><span style="font-family:Arial">Coca-Cola and Nepal Red Cross Society (NRCS) have commenced the second phase of handing over of safety gears and equipment to various hospitals and volunteers to enhance the safety of health workers, patients and volunteers working in the frontline against Covid-19 pandemic.</span></span></span></span></p>

<p><span style="font-size:11pt"><span style="font-family:Calibri"><span style="font-size:12.0pt"><span style="font-family:Arial">Coca-Cola said in a statement that the total value of the equipment to be handed over to the Government of Nepal for use in various hospitals is approximately Rs 14 million. </span></span></span></span></p>

<p><span style="font-size:11pt"><span style="font-family:Calibri"><span style="font-size:12.0pt"><span style="font-family:Arial">Under this partnership, ventilators will be handed over to the major hospitals in all the seven provinces of the country and personal safety equipment (PPE) will be handed over to the health workers and volunteers, the company added.</span></span></span></span></p>

<p><span style="font-size:11pt"><span style="font-family:Calibri"><span style="font-size:12.0pt"><span style="font-family:Arial">The second phase of the safety gears and equipment distribution campaign kicked off on November 19 in the presence of Minister for Health and Population Bhanu Bhakta Dhakal at the Ministry of Health and Population. </span></span></span></span></p>

<p><span style="font-size:11pt"><span style="font-family:Calibri"><span style="font-size:12.0pt"><span style="font-family:Arial">Appreciating the joint efforts for the second phase, Minister Dhakal expressed his commitment to distribute ventilators provided by the Red Cross in collaboration with Coca-Cola. </span></span></span></span></p>

<p><span style="font-size:11pt"><span style="font-family:Calibri"><span style="font-size:12.0pt"><span style="font-family:Arial">According to the company, Minister Dhakal handed over the equipment provided by NRCS and Coca-Cola to Sagar Rajkarnikar, director of Sukraraj Tropical and Infectious Diseases Hospital, Teku. </span></span></span></span></p>

<p><span style="font-size:11pt"><span style="font-family:Calibri"><span style="font-size:12.0pt"><span style="font-family:Arial">The company had provided 100 sets of safety glasses, 120 boxes of surgical mask, 150 sets of PPE, 50 boxes of gloves and 200 sets of KN -95 masks.</span></span></span></span></p>

<p><span style="font-size:11pt"><span style="font-family:Calibri"><span style="font-size:12.0pt"><span style="font-family:Arial">Similarly, 48,000 units of surgical masks, 1,600 units of KN-95 masks, 550 sets of PPE, 400 pairs of safety glasses and 10,000 pairs of gloves along with one ventilator each will be handed over to the designated hospitals in seven provinces within the next two weeks, the statement further said. </span></span></span></span></p>

<p><span style="font-size:11pt"><span style="font-family:Calibri"><span style="font-size:12.0pt"><span style="font-family:Arial">Arrangements have been made to handover the equipment to Koshi Zonal Hospital in Morang, Narayani Sub-Regional Hospital in Parsa, Bharatpur Hospital in Chitwan, Pokhara Health Science Hospital of Kaski, Bheri Zonal Hospital in Banke, Midwest Regional Hospital in Surkhet and Seti Zonal Hospital in Kailali.</span></span></span></span></p>

<p><span style="font-size:11pt"><span style="font-family:Calibri"><span style="font-family:Arial">&ldquo;As Nepal fights to contain COV1D-19, we all need to ensure there is ample support provided to the Government. Coca-Cola&rsquo;s partnership with Nepal Red Cross provides </span><span style="font-family:Arial">safety gear for front line workers and ventilators for the treatment of patients,&rdquo; said Pradip Pandey, managing director of Bottlers Nepal Limited, that produces Coca-Cola in Nepal. </span></span></span></p>

<p><span style="font-size:11pt"><span style="font-family:Calibri"><span style="font-size:12.0pt"><span style="font-family:Arial">&quot;This partnership between Nepal Red Cross Society and Coca-Cola in Nepal is an effort to prevent and control the spread of coronavirus and protect frontline health workers and patients,&quot; Nepal Red Cross Society&rsquo;s Acting Chairperson Sarmila Karki said.</span></span></span></span></p>

<p>&nbsp;</p>
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	(int) 13 => array(
		'Article' => array(
			'id' => '12698',
			'article_category_id' => '1',
			'title' => 'Merger of Udayapur and Hetauda Cement Industries in Dilemma ',
			'sub_title' => '',
			'summary' => 'November 22: The merger of Udayapur Cement Industries and Hetauda Cement has become uncertain as the two state owned companies have shown no interest in merger.',
			'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;">November 22: The merger of Udayapur Cement Industries and Hetauda Cement has become uncertain as the two state owned companies have shown no interest in merger.</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;">Although the merger of the two industries was initiated in last July by drafting a Terms of Reference (ToR), the process has not gained momentum as both the industries have not responded to the government initiative.</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;">The government had formed a committee during last May to merge these two entities. </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;">According to a source at the Ministry of Industry, Commerce and Supplies, the merger process is in dilemma as they have not received any reply from the two industries. The source said that last July, the ministry had asked the industries for a written reply on whether they agree or disagree on merging and the pros and cons of the merger. As no information has been received from both the cement industries so far, no discussion has taken place to take the merger process ahead. </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;">&ldquo;There might have been some delays due to the coronavirus infection and due to the delay in discussion with the trade union of the industries,&rdquo; the source said, adding, &ldquo;We are waiting for their response.&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;">Earlier, the merger of Hetauda and Udayapur Cement Industries was delayed after the coordinator of the committee was transferred. </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;">A committee consisting of a mechanical engineer and the representatives from the Ministry of Finance and the Office of the Company Registrar has been formed under the leadership of the Joint Secretary of the Ministry of Industry, Commerce and Supply to analyze the financial prospects and technical condition of the two industries and make suggestions. </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;">The government has been claiming that the merger strategy has been adopted to reduce the administrative cost and to use the technical skills of one company for the benefit of &nbsp;another as the two companies are of the same nature, but are being operated under different managements. </span></span></span></span></p>

<p>&nbsp;</p>

<p>&nbsp;</p>
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	(int) 14 => array(
		'Article' => array(
			'id' => '12697',
			'article_category_id' => '237',
			'title' => '  Xiaomi Bounces Back to ‘Number 1 Position’ in Smartphone Market of Nepal',
			'sub_title' => '',
			'summary' => 'November 22: Chinese smartphone brand Xiaomi announced that it has yet again become the number one smartphone brand in Nepal.',
			'content' => '<p><span style="font-size:18px"><span style="font-family:Calibri">November 22: Chinese smartphone brand Xiaomi announced that it has yet again become the number one smartphone brand in Nepal, as per the latest Worldwide Quarterly Mobile Phone Tracker Report (Q3 2020) of the leading market research firm, IDC. </span></span></p>

<p><span style="font-size:18px"><span style="font-family:Calibri">This is the second time that the brand has climbed to the number one position after becoming the market leader in smartphones for Nepal in Q1 2020, says a statement issued by the company.&nbsp;</span></span></p>

<p><span style="font-size:18px"><span style="font-family:Calibri">Currently holding a market share of 34.1% based on unit shipment, the brand has bagged the top position in Nepal for the smartphone category riding on the successful launch of a series of smartphones across Mi and Redmi, the statement added.&nbsp;</span></span></p>

<p><span style="font-size:18px"><span style="font-family:Calibri">Sourabh Kothari, country general manager of Xiaomi for Nepal, said, &ldquo;We are ecstatic to be the #1 smartphone brand in Nepal again as per IDC report for Q3 2020. We are humbled by the love and support that we have received from our Mi Fans and it has helped us come closer to our mission of providing innovation for all. We shall continue to work towards our commitment of gaining our users&rsquo; sustained trust and appreciation through constant innovation across our products, business model and infrastructure.&rdquo;</span></span></p>

<p><span style="font-size:18px"><span style="font-family:Calibri">According to the company, the brand witnessed significant growth in the market with the launch of a series of great smartphones offering top of the line specifications at multiple price points starting from Redmi 9A, Redmi 9C, Redmi 9, Redmi Note 9, Redmi Note 9 Pro and Redmi Note 9 Pro Max. </span></span></p>

<p><span style="font-size:18px"><span style="font-family:Calibri">Xiaomi said it has been working with its online selling partners Daraz.com and Sastodeal in Nepal contributing massively to the brand&rsquo;s wide reach in the country. </span></span></p>

<p><span style="font-size:18px"><span style="font-family:Calibri">&ldquo;The offline expansion added to the overall growth with Xiaomi setting up more than 1600+ offline partner stores with 350+ Mi Preferred Partner stores across the country, strengthening their presence in Nepal. The company currently holds a strong distribution network across locations. They have also fortified their position in the market with robust after sales service through exclusive authorized service centers as well a dedicated service warehouse to fulfill customer requirements in Nepal,&rdquo; the statement added.</span></span></p>

<p>&nbsp;</p>
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			'id' => '12711',
			'article_category_id' => '266',
			'title' => 'Berger Paints Nepal announces winners of 'Berger Color Splash 2076’',
			'sub_title' => '',
			'summary' => 'November 24: Berger Paints Nepal, manufacturer of decorative paints in Nepal since 2000, has announced the winners of its consumer offer 'Berger Color Splash'.',
			'content' => '<p><span style="font-size:18px"><span style="font-family:Calibri">November 24: Berger Paints Nepal, manufacturer of decorative paints in Nepal since 2000, has announced the winners of its consumer offer &#39;Berger Color Splash&#39;.</span></span></p>

<p><span style="font-size:18px"><span style="font-family:Calibri">The scheme was launched in the festive season of Dashain and Tihar 2076 where the customers purchasing selected Berger products won 100 sq ft of Silk Illusion Designers Finish as sure shot reward and also got chance to win exciting prizes through lucky draw and digital contest.</span></span></p>

<p><span style="font-size:18px"><span style="font-family:Calibri">The company said in a statement that 178 winners out of 6000+ participants were announced through a live lucky draw. </span></span></p>

<p><span style="font-size:18px"><span style="font-family:Calibri">According to the company, Jay Nath Sapkota of Biratnagar won the bumper prize of Rs 500,000.</span></span></p>

<p><span style="font-size:18px"><span style="font-family:Calibri">Similarly, Purna Man Gurung of Birtamode and Ramesh Shrestha of Kathmandu both won the first prize which includes a trip to London.</span></span></p>

<p><span style="font-size:18px"><span style="font-family:Calibri">Other 25 winners bagged 32&rdquo; Samsung Television as second prize, while 50 winners received domestic trip as third prize. The company said that 100 winners got Samsung M20 as consolation prize during the lucky draw.</span></span></p>

<p><span style="font-size:18px"><span style="font-family:Calibri">Among the winners from the Digital Contest, Durga Lammichanne and Suresh Lammichhane has won Rs 100,000 each in exterior category whereas Manoj Sitaula and Chanu Khadka Bhandari has won Rs 100,000 each in interior category as first prize. </span></span></p>

<p><span style="font-size:18px"><span style="font-family:Calibri">Aim Bahadur Basnet and Sarala Adhikari has won Rs 50,000 each in exterior category whereas Raju Lama and Hem Prasad Dhakal won Rs 50,000 each in interior category as second prize. Basanta Kumar Basnet and Lila Khadka has won Rs 25,000 in exterior category whereas, Ghadendra Rai and Dhan Bahadur Basnet won Rs 25,000 each in interior category as third prize. </span></span></p>

<p>&nbsp;</p>
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		'Article' => array(
			'id' => '12710',
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			'title' => 'NCHL Working to Ensure Inter-Bank Card Settlement under the National Payment Switch',
			'sub_title' => '',
			'summary' => 'November 24: Nepal Clearing House Limited (NCHL) has started initial phase of work for developing the National Payment Switch as per the understanding reached with the central bank in this regard.',
			'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;">November 24: Nepal Clearing House Limited (NCHL) has started initial phase of work for developing the National Payment Switch as per the understanding reached with the central bank in this regard.</span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;">NCHL informed that it is making necessary preparations for inter-bank card settlement in the first phase.</span></span></span></span></p>

<p><span 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 said that it is currently conducting study for developing the National Payment Switch but hasn&rsquo;t started technical works yet.</span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;">CEO of NCHL Nilesn Man Singh Pradhan informed New Business Age that they are currently studying the modus operandi of the national payment switches of neighbouring countries like India, Sri Lanka and 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;After the study is complete, we will develop a national payment switch which is best suited for Nepal considering the technological advancement of the country and the requirement of businesses and volume of transaction,&rdquo; said Pradhan.</span></span></span></span></p>

<p><span 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 don&rsquo;t have transactions as big as that of India. So we will use a system that is suitable for us,&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;">CEO Pradhan said that the project is one of the big projects of the country and cannot specifically say when it will be completed.</span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;">He argues that such switch is categorized under long-term projects in foreign countries. Pradhan added that they will first identify the components which they require urgently and work towards setting them up in phase-wise manner.</span></span></span></span></p>

<p><span 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;In the first phase, we will ensure inter-bank card settlement,&rdquo; said Pradhan.</span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;">At present, the central bank has instructed commercial banks not to charge customers for inter-bank ATM transaction. As Nepal does not have its own payment switch, the banks have been forced &nbsp;pay a minimum of Rs 12 for such transaction to foreign developers. BFIs have been paying hefty amount to international payment gateways like Visa and Master Card because the country lacks its own national payment gateway.</span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;">Banks of Nepal have been making payment for transactions through debit and credit cards by using payment switches of foreign countries.</span></span></span></span></p>

<p><span 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 country has been spending lots of money to foreign banks for the payments made through point of sales machines placed at shopping malls across 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;">In this context, a national payment switch is expected to reduce the cost of the banks to a great extent.</span></span></span></span></p>

<p>&nbsp;</p>
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		'Article' => array(
			'id' => '12709',
			'article_category_id' => '1',
			'title' => 'Finance Minister warns of Action against Govt Staffers if they Fail to Meet Revenue Target ',
			'sub_title' => '',
			'summary' => 'November 24: Finance minister Bishnu Prasad Poudel has warned government  employees that they will be punished if they do not meet the revenue collection target mentioned in the budget statement of the current fiscal year. ',
			'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;">November 24: Finance minister Bishnu Prasad Poudel has warned government &nbsp;employees that they will be punished if they do not meet the revenue collection target mentioned in the budget statement of the current fiscal year. He also said that the employees who achieve the target will be rewarded. </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;">Speaking with the finance secretary, director general of Inland Revenue Department and customs department on Monday, he directed the officials to perform their work to meet the aim despite facing the challenges created by covid-19.&nbsp; </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;">Out of the target of 25 percent revenue collection in the first four months of the current fiscal year, the government was able to collect 24 percent revenue. According to the Ministry of Finance, Rs 240.15 billion revenue has been collected in the first four months. </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;">The finance minister gave such directive after failing to meet the revenue target in the first four months. Explaining that the employees should not be pressurized to work with fear and intimidation, he stressed on creating favorable working conditions with respect to qualifications and abilities.</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;&ldquo;The ministry provides support, facilitation and encouragement to solve difficulties and problems. If the goal is achieved, we respect it. If not, you should be punished,&rdquo; he said. </span></span></span></span></p>

<p>&nbsp;</p>

<p>&nbsp;</p>
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		'Article' => array(
			'id' => '12708',
			'article_category_id' => '1',
			'title' => 'State-Owned Company to Extract Iron Using Locally Available Resources in Nawalparasi',
			'sub_title' => '',
			'summary' => 'November 24: The state-owned Dhaubadhi Iron Limited has finalized the technology for extracting iron from its Nawalparasi-based mine after it was deemed commercially viable to extract ore from the mine.',
			'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;">November 24: The state-owned Dhaubadhi Iron Limited has finalized the technology for extracting iron from its Nawalparasi-based mine after it was deemed commercially viable to extract ore from the mine.</span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;">A report prepared after sending samples of raw materials extracted from the mine to China for studying the prospects of commercial extraction has suggested using electric furnace for extracting&nbsp; iron.</span></span></span></span></p>

<p><span 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 suggested using electric furnace considering the utilization of electricity produced in the country. It is also possible to refine iron by using coal but it would incur additional cost to import coal. Therefore, the state-owned company is preparing to use electric furnace for extraction and refining of iron from the mine.</span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;">CEO of the company Krishna Dev Jha informed that China provided them the report about two weeks ago. Jha said that they will opt for electric furnace as per the recommendation of the 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;">&ldquo;We will utilize the resources available in the country and rely less on imported products for extracting iron,&rdquo; said Jha.</span></span></span></span></p>

<p><span 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 is preparing to start the drilling process within the next two weeks (by mid-December) as it has already received the report. It has already selected a consulting firm for the purpose from 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;">The consulting company will drill between 265 meters to 300 meters in five areas of Dhaubadhi and Pokhari where the mine is located. The quantity of iron which can be extracted from the mine will be ascertained after drilling.</span></span></span></span></p>

<p><span 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 company is also preparing to select international consultant company by issuing a public notice for conducting feasibility study and to prepare the detailed project report (DPR).</span></span></span></span></p>

<p><span 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 will begin commercial production of iron only after completing all of the above mentioned processes.</span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;">CEO Jha informed that the company is preparing to set up a steel plant in Kawasoti of Nawalparasi district. They have already started acquiring 150 bigha land for setting up the factory, according to Jha.</span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;">He further informed that 1,500 metric tons of iron can be produced on a daily basis after the company starts production.</span></span></span></span></p>

<p><span 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 the government had been announcing financial support for the mine since the last few years, it could not be implemented as the report was yet to arrive from China.</span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;">The company has received Rs 250 million during the last fiscal&nbsp; year while the government has allocated Rs 1.5 billion this year.</span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;">The federal government has been looking after the financial matters of the company which has been set up with a total capital of Rs 10 billion. The private sector has 45 percent stakes at the company.</span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;">The company was set up in public private partnership model after the government on August 20 decided to open a company specifically for extraction of mines.</span></span></span></span></p>

<p>&nbsp;</p>
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			'id' => '12707',
			'article_category_id' => '1',
			'title' => 'Sugar Mills Preparing to Sell Electricity from this Season',
			'sub_title' => '',
			'summary' => 'November 24: Three sugar mills are preparing to sell electricity to Nepal Electricity Authority this season. ',
			'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;">November 24: Three sugar mills are preparing to sell electricity to Nepal Electricity Authority this season. Everest Sugar Mills of Mahottari, Indu Shankar Sugar Mills of Sarlahi and Reliance Sugar Mills of Bara are making necessary preparations to sell the electricity that they produce themselves from the waste product of sugarcane. </span></span></span></span></p>

<p><span 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 of Nepal Sugar Producers Association Sashikanta Agrawal said that they are preparing to sell electricity from this winter season when the government faces shortage of electricity.</span></span></span></span></p>

<p><span 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 sugar mills are planning to sell 7 megawatts of electricity this season. Agrawal says that they are in the final phase of preparation for selling the electricity which they produce from biomass. </span></span></span></span></p>

<p><span 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 have already made preparations to connect the transmission line from the mills to the nearest sub-station,&rdquo; said Agrawal, who is the proprietor of Everest Sugar Mills. </span></span></span></span></p>

<p><span 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;Altogether three sugar mills are in a position to sell a total of 7 megawatts of electricity from this season,&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;">Indu Shankar and Everest sugar mills have already taken permission from the Department of Electricity Development to produce 3 megawatts of electricity each. They have also signed an agreement with the NEA to purchase or sell electricity at the &ldquo;posted rate&rdquo; of Rs 8.4 per unit. </span></span></span></span></p>

<p><span 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, Reliance Sugar Mills, which has taken permission from the board to survey the possibility of producing 10 megawatts of electricity, is also preparing to sell excess of electricity from this season. The company, however, is yet to acquire license, informed Director General of the department Navin Raj Singh.</span></span></span></span></p>

<p><span 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 sugar mills will be operational within a month. Operators of the mills say they will be in a position to sell electricity as soon as they start producing sugar. NEA says that it can purchase electricity from sugar mills with whom it has signed power purchase agreements (PPA).</span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;">Sugar mills normally operate during the winter season from mid-December to mid-April. The electricity produced by sugar mills by burning biomass is considered of great significance, especially because the production of hydroelectricity is reduced to a great extent during winter season.</span></span></span></span></p>
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		'Article' => array(
			'id' => '12706',
			'article_category_id' => '1',
			'title' => 'Nepal’s Bilateral Trade with China Shrinks by Rs 20 Billion',
			'sub_title' => '',
			'summary' => 'November 24: The government’s inability to fully operate Nepal’s customs points in the northern border is taking toll on trade between Nepal and China. ',
			'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;">November 24: The government&rsquo;s inability to fully operate Nepal&rsquo;s customs points in the northern border is taking toll on trade between Nepal and China. The disruption in movement of goods from the border points since late January has reduced the volume of trade with China, which is Nepal&rsquo;s second largest trade partner.</span></span></span></span></p>

<p><span 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 made public by the Department of Customs, Nepal&rsquo;s bilateral trade with China declined by Rs 20 billion in the first four months of the current fiscal year compared to the corresponding period of last fiscal year.</span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;">The department informed that the volume of bilateral trade with China during the review period was worth Rs 60.41 billion. Nepal&rsquo;s trade with China during the same period of last fiscal year was of Rs 80.89 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;">Both export and import with China had increased since the 2015 earthquake but the figures took a nosedive since coronavirus started spreading from China late last year. </span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;">During the review period of last fiscal year, Nepal exported goods worth Rs 710 million to China while it imported goods worth Rs 80.18 billion from the northern neighbor. This year, the import has been limited to Rs 60.12 billion while Nepal&rsquo;s export has also dropped to 209 million.</span></span></span></span></p>

<p><span 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 border transit points with China that were closed since January are yet to fully reopen. Only the Tatopani and Rasuwagadhi customs points are partially operational.</span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;">Hundreds of containers used to enter Nepal on a daily basis prior to the emergence of coronavirus. The entry of containers has dropped to hardly five per day at present.</span></span></span></span></p>

<p><span 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&rsquo;s trade with&nbsp; China has been badly affected because Nepali containers are not allowed to go across the border to bring back goods, says Bachhu Poudel, chairman of Nepal Trans-Himalayan Border Commerce 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;">The border which was completely closed in late January was brought into operation in May, according to the government. But the customs points have not become fully operational till date, says Poudel.</span></span></span></span></p>

<p><span 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;Hundreds of containers used to enter Nepal every day in the past but hardly five of them enter the country these days,&rdquo; said Poudel.</span></span></span></span></p>

<p><span 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 of Customs informed that Nepal&rsquo;s overall foreign trade is returning back to normalcy although the customs points with China remain affected.</span></span></span></span></p>

<p><span 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 department, the country has imported goods worth Rs 402 billion in the first four months of the current fiscal year, which&nbsp; is less than that of the last fiscal&nbsp; year by only ten percent.</span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;">Director General of the Department of Customs Suman Dahal says that Nepal&rsquo;s foreign trade must be considered satisfactory because the government has adopted a policy of increasing exports and reducing imports.</span></span></span></span></p>

<p>&nbsp;</p>
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	(int) 6 => array(
		'Article' => array(
			'id' => '12705',
			'article_category_id' => '1',
			'title' => 'Profit of Development Banks Shrinks by 25 Percent ',
			'sub_title' => '',
			'summary' => 'November 23: The coronavirus pandemic has affected the entire banking sector of the country and has impacted the net profit of development banks.',
			'content' => '<p><span style="font-size:12pt"><span style="font-family:Cambria"><span style="font-size:14.0pt"><span style="font-family:Calibri">November 23: The coronavirus pandemic has affected the entire banking sector of the country and has impacted the net profit of development banks. Out of 18 development banks, the net profit growth rate of seven development banks in the first quarter of the current fiscal year has been negative as compared to the previous fiscal year.</span></span></span></span></p>

<p><span style="font-size:12pt"><span style="font-family:Cambria"><span style="font-size:14.0pt"><span style="font-family:Calibri">According to the financial report of the first quarter made public by all the development banks, the total net profit till September was Rs 902.7 million while they made a profit of Rs 1.20 billion in the previous fiscal year. Compared to last year, the total net profit growth rate of development banks has shrunk by 25 percent. Three development banks have incurred net losses while the distributable profits of seven banks have turned negative.</span></span></span></span></p>

<p><span style="font-size:12pt"><span style="font-family:Cambria"><span style="font-size:14.0pt"><span style="font-family:Calibri">As the profit growth rate of Jyoti, Garima, Exel, Shangrila, Shine Resunga, Corporate, and Karnali Development Bank has been lower than last year, the overall net profit of the development banks has shrunk by about 26 percent. Despite the overall contraction in the bank&#39;s profit, the profit growth rate of the remaining 11 development banks are encouraging.</span></span></span></span></p>

<p><span style="font-size:12pt"><span style="font-family:Cambria"><span style="font-size:14.0pt"><span style="font-family:Calibri">Meanwhile, Muktinath Development Bank has made the highest profit among the development banks. The bank has managed to earn a net profit of Rs 294.159 million in the first quarter. In the corresponding period of the previous year, it earned a profit of Rs 228.7 million. Compared to last year, the bank&#39;s profit has increased by 22.23 percent. The distributable profit of the bank is Rs. 152.1 million. </span></span></span></span></p>

<p><span style="font-size:12pt"><span style="font-family:Cambria"><span style="font-size:14.0pt"><span style="font-family:Calibri">Pradyumna Pokharel, CEO of Muktinath Development Bank, informed that the bank has managed to earn net profit due to the increase in interest income.</span></span></span></span></p>

<p>&nbsp;</p>
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	(int) 7 => array(
		'Article' => array(
			'id' => '12704',
			'article_category_id' => '1',
			'title' => 'Operation of Fair-Price Shops Extended till January 12 ',
			'sub_title' => '',
			'summary' => 'November 23: The state-owned Food Management and Trade Company Limited (FMTCL) has decided to operate fair-price shops till January 12.',
			'content' => '<p><em>This picture shows online shopping promoted by FMTCL in collaboration with Khalti. Photo Courtesy: Khalti/Facebook</em></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;">November 23: The state-owned Food Management and Trade Company Limited (FMTCL) has decided to operate fair-price shops till January 12. The government is going to operate the fair-price shops targeting the Maghe Sankranti festival for the first time. Initially, the fair price shop was planned from October 1 to November 21. </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;">The company said that the operation of the fair-price shops was extended due to Maghe Sankranti festival and the dire situation of coronavirus pandemic. The company had operated the fair price shop in 29 places across the country including Thapathali, Ramshah Path, Lagankhel, Suryabinayak, and Nakkhu to facilitate the public during the festive season. </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;">Netra Prasad Subedi, chief executive officer of the company, informed that they will give continuity to the shops till January 12. </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;">According to him, the Salt Trading Corporation and Dairy Development Corporation have not yet decided about giving continuity to the fair-price shops yet. It is said that both the corporations have started internal discussion on extending the deadline of the fair-price shops and a decision may be taken soon. </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;">Sharmila Subedi, information officer of FMTCL, said that the company had set a target of selling 20,000 quintals of goods within Dashan, Tihar and Chhath festivals at subsidized rates. According to her, only 10,000 quintals of food has been sold during this period. In contrast, 18,000 quintals of goods were sold in the same period last year. </span></span></span></span></p>

<p><span style="font-size:11pt"><span style="font-family:Calibri"><span style="font-size:14.0pt"><span style="font-family:&quot;Times New Roman&quot;">Goods like rice, pulses, peas, buckwheat, vegetable oil, salt, sugar, flour, ghee, cottage cheese, sanitizer, induction gas stove and goats were sold at the fair-price shops. The three companies also exchanged products and sold food items to diversify their products. </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;">The government operates festival-oriented fair-price shops every year with the expectation that it will help curb the problem of unnecessary price hikes and market price interventions during the festive season. </span></span></span></span></p>

<p>&nbsp;</p>
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	(int) 8 => array(
		'Article' => array(
			'id' => '12703',
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			'title' => 'Act Like Public Servants, not Administrators: Finance Minister',
			'sub_title' => '',
			'summary' => '',
			'content' => '<p><em>Finance Minister Bishnu Poudel.</em></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:Arial">November 23: Finance Minister Bishnu Poudel has stressed on the need to increase the ambit of tax and to minimize tax leakage in order to increase revenue collection.</span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:Arial">Speaking at the inauguration of a new building of Inland Revenue Office in Jorpati, Minister Poudel pointed out to the need of increasing participation of people in voluntary payment of tax. &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:Arial">He also instructed revenue officials to strictly implement market monitoring, research, administrative review, collection of taxes and clearance of arrears.</span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:Arial">He also instructed the concerned authorities to adopt customer-friendly approach, facilitate in tax payment process, cost reduction and use of technology as much as possible.</span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:Arial">The minister also directed all the offices under the Inland Revenue Department to increase the reach of taxation and to work toward changing the perception of the public toward tax officials.</span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:Arial">Minister Poudel was of the view that a strong base for tax collection is possible only through a healthy commercial relation between the tax payers and the tax collectors. He added that the National Tax Day would play a vital role to bridge the gap.</span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:Arial">He also told the tax officials to act like a public servant and not like administrators in order to encourage the public to pay taxes.</span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:Arial">Finance Minister Poudel also claimed that the government succeeded in attaining the revised target of tax collection despite an economic meltdown due to coronavirus and subsequent lockdown as well as restrictions in the last fiscal year.</span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:Arial">He also thanked the government employees who worked relentlessly in revenue collection despite the threat of coronavirus.</span></span></span></span></p>

<p>&nbsp;</p>
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	(int) 9 => array(
		'Article' => array(
			'id' => '12702',
			'article_category_id' => '1',
			'title' => 'Nepali Exporters Shift the Focus to Soybean Oil ',
			'sub_title' => '',
			'summary' => 'November 23: Nepali exporters have shifted their focus towards exporting refined soybean oil after India banned the import of palm oil more than six months ago.',
			'content' => '<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Bangla MN&quot;">November 23: Nepali exporters have shifted their focus towards exporting refined soybean oil after India banned the import of palm oil more than six months ago.</span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Bangla MN&quot;">The exporters of Nepal has been processing soybean oil ever since India banned import of palm oil in May.</span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Bangla MN&quot;">Soybean oil has replaced palm oil as the top export product of Nepal. Palm oil was the chief export product of Nepal until last year although Nepal doesn&rsquo;t cultivate palm oil itself.</span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Bangla MN&quot;">A review of export through Birgunj customs show that the export of soybean to India in the first quarter of the current fiscal year has increased by five times compared to the corresponding period of last fiscal year.</span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Bangla MN&quot;">In the first four months of the current fiscal year, Nepal exported 48,281 metric tons of soybean oil worth Rs 6.83 billion to India. The export of soybean oil during the same period of last fiscal year was just 10,519 metric tons worth Rs 1.33 billion, informed customs officer Ramesh Sukhmani.</span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Bangla MN&quot;">Birgunj is the main customs point of Nepal from where refined edible oils are exported to India and third countries.</span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Bangla MN&quot;">Nepal had exported palm oil of Rs 18.31 billion in total during the last fiscal year. The export of palm oil through Birgunj alone was worth Rs 11.72 billion which is almost 60 percent of the total export.</span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Bangla MN&quot;">Out of two dozen industries that produce refined oil in Nepal, 14 are located in Birgunj area, informed Suresh Rungata, operator of OCB Food.</span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Bangla MN&quot;">&ldquo;The export of palm oil came to a sudden halt. The exporters then shifted their focus to soybean oil, which has provided them some relief,&rdquo; said Rungata.</span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Bangla MN&quot;">Nepali exporters have been processing unrefined oil and exporting the refined products to India and other countries. They had been charging 30 percent more for the refined product and exporting them to India without paying any customs duty under a concessional scheme of the Indian government.</span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt">India has imposed a heavy customs duty on import of products like palm oil in order to protect its local farmers and industries. India charges 37.5 percent customs duty on oil and 45 percent on readymade goods from countries other than SAARC nations.</span></span></span></p>

<p>&nbsp;</p>
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	(int) 10 => array(
		'Article' => array(
			'id' => '12701',
			'article_category_id' => '1',
			'title' => 'Shah Deposes Rana as Highest Taxpayer of Nepal in Individual Category',
			'sub_title' => '',
			'summary' => 'November 23: Vijay Kumar Shah has dethroned Siddhartha Rana as the highest taxpayer of Nepal in individual category.',
			'content' => '<p><span style="font-size:18px"><em>Vijay Kumar Shah, Chairman of Jawlakhel Group of Industries, in this file photo taken by New Business Age.</em></span></p>

<p><span style="font-size:18px"><span style="font-family:Times"><span style="font-family:&quot;Bangla MN&quot;">November 23: Vijay Kumar Shah has dethroned Siddhartha Rana as the highest taxpayer of Nepal in individual category. Rana had remained as the highest taxpayer of the country for the last seven years. </span></span></span></p>

<p><span style="font-size:18px"><span style="font-family:Times"><span style="font-family:&quot;Bangla MN&quot;">Meanwhile, Surya Nepal retained its position as the highest taxpaying company of Nepal. </span></span></span></p>

<p><span style="font-size:18px"><span style="font-family:Times"><span style="font-family:&quot;Bangla MN&quot;">As per the details made public by the Inland Revenue Department on the occasion of the Ninth National Tax Day, Vijay Kumar Shah has been declared as the highest taxpayer of Nepal in individual category.</span></span></span></p>

<p><span style="font-size:18px"><span style="font-family:Times"><span style="font-family:&quot;Bangla MN&quot;">Shah is the chairman of Jawlakhel Group of Companies. Shah, who is involved in liquor business, produces Ruslan Vodka, Golden Oak and Warsteiner Beer.</span></span></span></p>

<p><span style="font-size:18px"><span style="font-family:Times"><span style="font-family:&quot;Bangla MN&quot;">In most of the other categories, the highest taxpayers were the same companies as in the past.</span></span></span></p>

<p><span style="font-size:18px"><span style="font-family:Times"><span style="font-family:&quot;Bangla MN&quot;">Surya Nepal paid a tax of Rs 5.31 billion to retain its position as the top taxpayer company of Nepal.</span></span></span></p>

<p><span style="font-size:18px"><span style="font-family:Times"><span style="font-family:&quot;Bangla MN&quot;">Similarly, Dabur Nepal was declared as the highest taxpayer in export section. Dabur Nepal had won the same accolade even last year.</span></span></span></p>

<p><span style="font-size:18px"><span style="font-family:Times"><span style="font-family:&quot;Bangla MN&quot;">Likewise, the honour of the highest taxpayer among special industry was bagged by Himal Power Limited. </span></span></span></p>

<p><span style="font-size:18px"><span style="font-family:Times"><span style="font-family:&quot;Bangla MN&quot;">In the business section, Agni Incorporated won the title as the highest taxpayer. Agni Incorporated is the authorised distributor of Mahindra vehicles in Nepal.</span></span></span></p>

<p><span style="font-size:18px"><span style="font-family:Times"><span style="font-family:&quot;Devanagari Sangam MN&quot;">Among the tourism enterprises, Taragaun Regency Hotel was declared as the highest taxpayer.</span></span></span></p>

<p><span style="font-size:18px"><span style="font-family:Times"><span style="font-family:&quot;Devanagari Sangam MN&quot;">Likewise, Nabil Bank was the highest taxpayers from among the banks and financial institutions. </span></span></span></p>

<p><span style="font-size:18px"><span style="font-family:Times"><span style="font-family:&quot;Devanagari Sangam MN&quot;">Other institutions to emerge as the highest taxpayers in their respective areas were Nepal Reinsurance Company Limited (insurance), IME Limited (remittance), Manipal Education and Medical Group Nepal (education), Annapurna Agro Industries (agriculture), Chimek Microfinance (microfinance) among others.</span></span></span></p>

<p><span style="font-size:18px"><span style="font-family:Times"><span style="font-family:&quot;Devanagari Sangam MN&quot;">Ghorahi Cement was honoured for paying the taxes in time and also providing timely VAT details since the last ten years. Ghorahi Cement was also the highest taxpayer in VAT section last year.</span></span></span></p>

<p><span style="font-size:18px"><span style="font-family:Times"><span style="font-family:&quot;Devanagari Sangam MN&quot;">The government has been observing the National Tax Day on the first of Mangsir (November 15) every year but the programme was delayed this year due to coronavirus as well as Tihar festival.</span></span></span></p>

<p><span style="font-size:18px"><span style="font-family:Times"><span style="font-family:&quot;Devanagari Sangam MN&quot;">The IRD informed that they will organize a formal programme to felicitate the highest taxpayers after the coronavirus infection subsides.</span></span></span></p>

<p>&nbsp;</p>
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	(int) 11 => array(
		'Article' => array(
			'id' => '12700',
			'article_category_id' => '1',
			'title' => 'Government Seeks Clarification on Fake Covid-19 Reports from 4 Private Hospitals ',
			'sub_title' => '',
			'summary' => 'November 23: The government has sought clarifications from labs of four hospitals in Kathmandu on suspicion of certifying false PCR reports.',
			'content' => '<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:Arial">November 23: The government has sought clarifications from labs of four hospitals in Kathmandu on suspicion of certifying false PCR reports.</span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:Arial">A meeting of the Incident Command System (ICS) of health ministry on Sunday decided to seek clarifications from Star Hospital, Central Diagnostic Laboratory, Surya Health Care Hospital and HAMS regarding this issue. The four hospitals have been given 24 hours to furnish their clarification.</span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:Arial">Ministry of Culture, Tourism and Civil Aviation had written letters to the health ministry and the Covid-19 Crisis Management Centre (CCMC) to investigate the matter as Nepali nationals undergoing tests at those hospitals tested positive for coronavirus in foreign countries soon after leaving the country. In most of the cases, the hospitals had certified their report as negative for coronavirus.</span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:Arial">Many passengers who left the country through various airlines with the certificates provided by private hospitals&rsquo; labs were found infected during tests conducted at airports of foreign countries.</span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:Arial">The first of such incident was reported on October 3 when six Nepali nationals travelled to Hong Kong through a regular flight of Nepal Airlines tested positive for the disease despite getting clearance from the private hospitals. Hong Kong allows entry of people having negative report of less than 72 hours. But the six passengers tested positive and the Civil Aviation Department of Hong Kong subsequently banned Nepal Airlines Corporation for two weeks.</span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:Arial">Suspecting that the private labs of Nepal had provided the passengers with fake certificates, the tourism ministry had written a letter to the health ministry to investigate the matter on November 13.</span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:Arial">The labs are supposed to store the samples of blood for one month in case the report comes negative while they have to store the samples for three months if the result is positive. However, the labs were found not to have maintained the records.</span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:Arial">Spokesperson at the Ministry of Health and Population Dr Jageshwar Gautam informed that the four hospitals were asked to submit clarifications because they did not preserve the samples.</span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:Arial">The Emergency Health and Disaster Management Centre has formed a three-member probe committee headed by Dr Mukunda Sharma of the National Public Health Lab, Teku to investigate into the matter.</span></span></span></span></p>

<p>&nbsp;</p>
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	(int) 12 => array(
		'Article' => array(
			'id' => '12699',
			'article_category_id' => '266',
			'title' => 'NRCS and Coca-Cola Nepal begin Second Phase of Distributing Health Equipment',
			'sub_title' => '',
			'summary' => 'November 22: Coca-Cola and Nepal Red Cross Society (NRCS) have commenced the second phase of handing over of safety gears and equipment to various hospitals and volunteers to enhance the safety of health workers, patients and volunteers working in the frontline against Covid-19 pandemic.',
			'content' => '<p><span style="font-size:11pt"><span style="font-family:Calibri"><span style="font-size:12.0pt"><span style="font-family:Arial">November 22: </span></span><span style="font-size:12.0pt"><span style="font-family:Arial">Coca-Cola and Nepal Red Cross Society (NRCS) have commenced the second phase of handing over of safety gears and equipment to various hospitals and volunteers to enhance the safety of health workers, patients and volunteers working in the frontline against Covid-19 pandemic.</span></span></span></span></p>

<p><span style="font-size:11pt"><span style="font-family:Calibri"><span style="font-size:12.0pt"><span style="font-family:Arial">Coca-Cola said in a statement that the total value of the equipment to be handed over to the Government of Nepal for use in various hospitals is approximately Rs 14 million. </span></span></span></span></p>

<p><span style="font-size:11pt"><span style="font-family:Calibri"><span style="font-size:12.0pt"><span style="font-family:Arial">Under this partnership, ventilators will be handed over to the major hospitals in all the seven provinces of the country and personal safety equipment (PPE) will be handed over to the health workers and volunteers, the company added.</span></span></span></span></p>

<p><span style="font-size:11pt"><span style="font-family:Calibri"><span style="font-size:12.0pt"><span style="font-family:Arial">The second phase of the safety gears and equipment distribution campaign kicked off on November 19 in the presence of Minister for Health and Population Bhanu Bhakta Dhakal at the Ministry of Health and Population. </span></span></span></span></p>

<p><span style="font-size:11pt"><span style="font-family:Calibri"><span style="font-size:12.0pt"><span style="font-family:Arial">Appreciating the joint efforts for the second phase, Minister Dhakal expressed his commitment to distribute ventilators provided by the Red Cross in collaboration with Coca-Cola. </span></span></span></span></p>

<p><span style="font-size:11pt"><span style="font-family:Calibri"><span style="font-size:12.0pt"><span style="font-family:Arial">According to the company, Minister Dhakal handed over the equipment provided by NRCS and Coca-Cola to Sagar Rajkarnikar, director of Sukraraj Tropical and Infectious Diseases Hospital, Teku. </span></span></span></span></p>

<p><span style="font-size:11pt"><span style="font-family:Calibri"><span style="font-size:12.0pt"><span style="font-family:Arial">The company had provided 100 sets of safety glasses, 120 boxes of surgical mask, 150 sets of PPE, 50 boxes of gloves and 200 sets of KN -95 masks.</span></span></span></span></p>

<p><span style="font-size:11pt"><span style="font-family:Calibri"><span style="font-size:12.0pt"><span style="font-family:Arial">Similarly, 48,000 units of surgical masks, 1,600 units of KN-95 masks, 550 sets of PPE, 400 pairs of safety glasses and 10,000 pairs of gloves along with one ventilator each will be handed over to the designated hospitals in seven provinces within the next two weeks, the statement further said. </span></span></span></span></p>

<p><span style="font-size:11pt"><span style="font-family:Calibri"><span style="font-size:12.0pt"><span style="font-family:Arial">Arrangements have been made to handover the equipment to Koshi Zonal Hospital in Morang, Narayani Sub-Regional Hospital in Parsa, Bharatpur Hospital in Chitwan, Pokhara Health Science Hospital of Kaski, Bheri Zonal Hospital in Banke, Midwest Regional Hospital in Surkhet and Seti Zonal Hospital in Kailali.</span></span></span></span></p>

<p><span style="font-size:11pt"><span style="font-family:Calibri"><span style="font-family:Arial">&ldquo;As Nepal fights to contain COV1D-19, we all need to ensure there is ample support provided to the Government. Coca-Cola&rsquo;s partnership with Nepal Red Cross provides </span><span style="font-family:Arial">safety gear for front line workers and ventilators for the treatment of patients,&rdquo; said Pradip Pandey, managing director of Bottlers Nepal Limited, that produces Coca-Cola in Nepal. </span></span></span></p>

<p><span style="font-size:11pt"><span style="font-family:Calibri"><span style="font-size:12.0pt"><span style="font-family:Arial">&quot;This partnership between Nepal Red Cross Society and Coca-Cola in Nepal is an effort to prevent and control the spread of coronavirus and protect frontline health workers and patients,&quot; Nepal Red Cross Society&rsquo;s Acting Chairperson Sarmila Karki said.</span></span></span></span></p>

<p>&nbsp;</p>
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		'Article' => array(
			'id' => '12698',
			'article_category_id' => '1',
			'title' => 'Merger of Udayapur and Hetauda Cement Industries in Dilemma ',
			'sub_title' => '',
			'summary' => 'November 22: The merger of Udayapur Cement Industries and Hetauda Cement has become uncertain as the two state owned companies have shown no interest in merger.',
			'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;">November 22: The merger of Udayapur Cement Industries and Hetauda Cement has become uncertain as the two state owned companies have shown no interest in merger.</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;">Although the merger of the two industries was initiated in last July by drafting a Terms of Reference (ToR), the process has not gained momentum as both the industries have not responded to the government initiative.</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;">The government had formed a committee during last May to merge these two entities. </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;">According to a source at the Ministry of Industry, Commerce and Supplies, the merger process is in dilemma as they have not received any reply from the two industries. The source said that last July, the ministry had asked the industries for a written reply on whether they agree or disagree on merging and the pros and cons of the merger. As no information has been received from both the cement industries so far, no discussion has taken place to take the merger process ahead. </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;">&ldquo;There might have been some delays due to the coronavirus infection and due to the delay in discussion with the trade union of the industries,&rdquo; the source said, adding, &ldquo;We are waiting for their response.&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;">Earlier, the merger of Hetauda and Udayapur Cement Industries was delayed after the coordinator of the committee was transferred. </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;">A committee consisting of a mechanical engineer and the representatives from the Ministry of Finance and the Office of the Company Registrar has been formed under the leadership of the Joint Secretary of the Ministry of Industry, Commerce and Supply to analyze the financial prospects and technical condition of the two industries and make suggestions. </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;">The government has been claiming that the merger strategy has been adopted to reduce the administrative cost and to use the technical skills of one company for the benefit of &nbsp;another as the two companies are of the same nature, but are being operated under different managements. </span></span></span></span></p>

<p>&nbsp;</p>

<p>&nbsp;</p>
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	(int) 14 => array(
		'Article' => array(
			'id' => '12697',
			'article_category_id' => '237',
			'title' => '  Xiaomi Bounces Back to ‘Number 1 Position’ in Smartphone Market of Nepal',
			'sub_title' => '',
			'summary' => 'November 22: Chinese smartphone brand Xiaomi announced that it has yet again become the number one smartphone brand in Nepal.',
			'content' => '<p><span style="font-size:18px"><span style="font-family:Calibri">November 22: Chinese smartphone brand Xiaomi announced that it has yet again become the number one smartphone brand in Nepal, as per the latest Worldwide Quarterly Mobile Phone Tracker Report (Q3 2020) of the leading market research firm, IDC. </span></span></p>

<p><span style="font-size:18px"><span style="font-family:Calibri">This is the second time that the brand has climbed to the number one position after becoming the market leader in smartphones for Nepal in Q1 2020, says a statement issued by the company.&nbsp;</span></span></p>

<p><span style="font-size:18px"><span style="font-family:Calibri">Currently holding a market share of 34.1% based on unit shipment, the brand has bagged the top position in Nepal for the smartphone category riding on the successful launch of a series of smartphones across Mi and Redmi, the statement added.&nbsp;</span></span></p>

<p><span style="font-size:18px"><span style="font-family:Calibri">Sourabh Kothari, country general manager of Xiaomi for Nepal, said, &ldquo;We are ecstatic to be the #1 smartphone brand in Nepal again as per IDC report for Q3 2020. We are humbled by the love and support that we have received from our Mi Fans and it has helped us come closer to our mission of providing innovation for all. We shall continue to work towards our commitment of gaining our users&rsquo; sustained trust and appreciation through constant innovation across our products, business model and infrastructure.&rdquo;</span></span></p>

<p><span style="font-size:18px"><span style="font-family:Calibri">According to the company, the brand witnessed significant growth in the market with the launch of a series of great smartphones offering top of the line specifications at multiple price points starting from Redmi 9A, Redmi 9C, Redmi 9, Redmi Note 9, Redmi Note 9 Pro and Redmi Note 9 Pro Max. </span></span></p>

<p><span style="font-size:18px"><span style="font-family:Calibri">Xiaomi said it has been working with its online selling partners Daraz.com and Sastodeal in Nepal contributing massively to the brand&rsquo;s wide reach in the country. </span></span></p>

<p><span style="font-size:18px"><span style="font-family:Calibri">&ldquo;The offline expansion added to the overall growth with Xiaomi setting up more than 1600+ offline partner stores with 350+ Mi Preferred Partner stores across the country, strengthening their presence in Nepal. The company currently holds a strong distribution network across locations. They have also fortified their position in the market with robust after sales service through exclusive authorized service centers as well a dedicated service warehouse to fulfill customer requirements in Nepal,&rdquo; the statement added.</span></span></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