Former CEO of Nepal Tourism Board Bags Int’l Award

Nov 11, 2020 0 1 minutes 47 seconds to read

November 11: World Tourism Network has honoured former CEO of Nepal Tourism Board Deepak Raj Joshi with an international…

Government’s Decision to Waive Tax on Import of Books gets Mixed Reaction

Nov 11, 2020 0 3 minutes 8 seconds to read

November 11: The local entrepreneurs of Nepal have opposed the government’s decision to waive 10 percent tax on import of books from abroad.…

Commercial Banks to be Closed for 3 Days during Tihar

Nov 11, 2020 0 1 minutes 34 seconds to read

November 11: All the branches of commercial banks will be closed for three days during the upcoming Tihar…

Finance Ministry’s Plan to Draft Integrated Law Suffers a Setback

Nov 10, 2020 0 2 minutes 13 seconds to read

November 10: The government’s plan to introduce an integrate law to regulate various organisations has been…

Nepal’s Foreign Trade Returning to Normalcy

Nov 10, 2020 0 4 minutes 2 seconds to read

November 10: Nepal’s foreign trade, which was badly affected by coronavirus and the subsequent lockdown imposed by the government, is returning back to normalcy.…

Demand for Medicines Increases

Nov 10, 2020 0 2 minutes 56 seconds to read

November 10: The demand for medicines which had declined after the government imposed lockdown in March has once again…

52 Projects backed by Foreign Investors Registered during Lockdown

Nov 10, 2020 0 3 minutes 27 seconds to read

November 10: The registration of projects under foreign investment continued even during the lockdown period.…

Government Preparing to Sign Agreement with UK to End Double Taxation

Nov 09, 2020 0 2 minutes 0 seconds to read

November 9: The government has started homework to sign an agreement with the UK to end double taxation.…

‘Government’s Apathy Results in Shrinking Jute Farming’

Nov 09, 2020 0 3 minutes 43 seconds to read

November 9: Jute farming has been shrinking because the government has not paid proper attention to promote jute farming in the country.…

Prices of Consumable Items Skyrocket After Dashain

Nov 09, 2020 0 2 minutes 41 seconds to read

November 9: The prices of food items have skyrocketed after the end of Dashain.…

ICP Infrastructure Inadequate to Meet its Target

Nov 09, 2020 0 4 minutes 30 seconds to read

November 9: The infrastructure of the Integrated Check Post (ICP), which was conceptualized for managing the import and export from Birgunj customs through a single point, has become inadequate to meet its…

CCMC Recommends Ending Chartered Flights for Rescue Operation

Nov 09, 2020 0 3 minutes 7 seconds to read

November 9: The Covid-19 Crisis Management Centre (CCMC) has recommended the government to halt chartered flights to rescue Nepali citizens stranded abroad due to the coronavirus…

Radisson Hotel Reopens Rooftop Restaurant

Nov 08, 2020 0 1 minutes 4 seconds to read

November 8: Radisson Hotel Kathmandu has announced the reopening of its rooftop restaurant “Terrace Garden”.…

NRA Fixes Final Deadline for Grant Distribution

Nov 08, 2020 0 1 minutes 41 seconds to read

November 8: The National Reconstruction Authority (NRA) has fixed the final date for people affected by the 2015 earthquake to receive housing grant.…

Foreign Countries Demand 100,000 Nepali workers

Nov 08, 2020 0 2 minutes 37 seconds to read

November 8: Gulf countries such as the UAE and Saudi Arabia that are considered attractive for foreign employment have demanded 100,000 labourers.…

< previous577578579580581582583584585next >

No Laughing Matter

The Sweet Rewards of Power

By Madan Lamsal

. . .
read more »

NEPSE

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			'summary' => 'November 11: World Tourism Network has honoured former CEO of Nepal Tourism Board Deepak Raj Joshi with an international award.',
			'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 11: World Tourism Network has honoured former CEO of Nepal Tourism Board Deepak Raj Joshi with an international award.</span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;">Joshi has also become the first person from South Asia to bag the prestigious International Hall of Tourism Heroes title.</span></span></span></span></p>

<p><span 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 network informed that the Joshi was conferred the award for his relentless effort in promotion and development of tourism and his efforts to revitalize the tourism industry that has been reeling under the effects of Covid-19.</span></span></span></span></p>

<p><span 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 winners of the award is selected from among the names recommended from across the world and the network ensures that people with immense contribution to the tourism sector and active persons are selected for the honour.</span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;">Other persons to win the award include Tourism Minister of Seychelles Alain St Ange, director of Vicky Group Vijay Ponusammy, Chairman of African Tourism Board Cuthbert Ncube, former tourism minister of Zimbabwe Dr Walter Mezembe, former general secretary of World Tourism Board Dr Taleb Rifai, Kenya&rsquo;s tourism secretary Najib Balla and Jamaica&rsquo;s Tourism Minister Edmund Barlett. </span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;">After receiving the award, Joshi thanked the World Tourism Network for recognizing his contributions to the development and revival of the tourism sector.</span></span></span></span></p>

<p>&nbsp;</p>
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			'id' => '12666',
			'article_category_id' => '1',
			'title' => 'Government’s Decision to Waive Tax on Import of Books gets Mixed Reaction',
			'sub_title' => '',
			'summary' => 'November 11: The local entrepreneurs of Nepal have opposed the government’s decision to waive 10 percent tax on import of books from abroad. ',
			'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 11: The local entrepreneurs of Nepal have opposed the government&rsquo;s decision to waive 10 percent tax on import of books from abroad. They say that the government&rsquo;s decision to remove the tax imposed on books but to give continuity to tax on import of paper would land the country&rsquo;s industries in trouble.</span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;">Former Finance Minister Yuba Raj Khatiwada had stood in favour of the tax on import of books despite criticism from various quarters. However, the Council of Ministers on Monday decided to lift the additional 10 percent customs duty imposed on imported books. Prior to this, the government had been charging only 5 percent tax on such books.</span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;">The government enjoys the privilege to change the tax rate as per the Financial Act 2077. The Council of Minister used the&nbsp; same act to remove the tax upon the recommendation of Finance Minister Bishnu Poudel, informed Dr Prakash Shrestha, financial advisor to the finance minister. </span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;">Dr Shrestha argued that the decision will not impact the local industries of Nepal.</span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;">The import of books had declined after the then Finance Minister Yuba Raj Khatiwada imposed 10 percent excise duty on imported books about a year ago. Khatiwada took such decision after it was found that the Nepali publishers used to publish books abroad and then import the books to Nepal by evading 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:&quot;Arial Unicode MS&quot;">Newly-appointed Finance Minister Poudel revoked the decision taken by the former minister in a around month since his appointment.</span></span></span></span></p>

<p><span 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 has waived the tax on imported books, it continues to collect tax from books printed 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 books published inside the country have to incur 15 percent taxes on import of paper and an additional 13 percent value added tax. In addition to that, the government also charges tax for printing due to which the local entrepreneurs have to pay a total of 31 percent tax to the government.</span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;">Manohar Das Mool, one of the importers of paper, says it is unfair to waive the tax on import of books while charging excessive taxes on books published within the country.</span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;">However, book stores and stationery shops have welcomed the decision of the government to remove the tax on imported books.</span></span></span></span></p>

<p>&nbsp;</p>
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			'id' => '12664',
			'article_category_id' => '1',
			'title' => 'Commercial Banks to be Closed for 3 Days during Tihar',
			'sub_title' => '',
			'summary' => 'November 11: All the branches of commercial banks will be closed for three days during the upcoming Tihar festival.',
			'content' => '<p><span style="font-size:12pt"><span style="font-family:Cambria"><span style="font-size:14.0pt"><span style="font-family:Arial">November 11: All the branches of commercial banks will be closed for three days during the upcoming Tihar festival.</span></span></span></span></p>

<p><span style="font-size:12pt"><span style="font-family:Cambria"><span style="font-size:14.0pt"><span style="font-family:Arial">The Nepal Bankers Association said in a statement that all the branches of commercial banks will be closed for three days from November 14 to 16. </span></span></span></span></p>

<p><span style="font-size:12pt"><span style="font-family:Cambria"><span style="font-size:14.0pt"><span style="font-family:Arial">The association decided to close the branch offices during the festive season in view of the increasing number of coronavirus cases among bank employees. </span></span></span></span></p>

<p><span style="font-size:12pt"><span style="font-family:Cambria"><span style="font-size:14.0pt"><span style="font-family:Arial">So far, more than 6000 employees of different banks have been infected with coronavirus, the bankers&rsquo; association said.</span></span></span></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 association informed that digital banking services will remain operational during the festive season and has urged everyone to use these online services to minimize the risk of virus transmission. </span></span></span></span></p>

<p>&nbsp;</p>

<p><span style="font-size:12pt"><span style="font-family:Cambria"><span style="font-size:14.0pt"><span style="font-family:Arial">Earlier, the banks had been providing 365 days a year service to their customers including in festivals like Dashain and Tihar through limited branches. </span></span></span></span></p>

<p><span style="font-size:12pt"><span style="font-family:Cambria"><span style="font-size:14.0pt"><span style="font-family:Arial">This year, however, the banks have chosen to remain closed during the festive season. </span></span></span></span></p>

<p>&nbsp;</p>

<p>&nbsp;</p>
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			'title' => 'Finance Ministry’s Plan to Draft Integrated Law Suffers a Setback',
			'sub_title' => '',
			'summary' => 'November 10: The government’s plan to introduce an integrate law to regulate various organisations has been halted.',
			'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 10: The government&rsquo;s plan to introduce an integrate law to regulate various organisations has been halted.</span></span></span></span></p>

<p><span 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 Ministry of Finance had prepared a draft of the law six months ago and presented it to the Ministry of Law for suggestions. But the file is gathering dust at the ministry as the government has failed to justify the need for such law.</span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;">Altogether 37 corporations that are in existence are being operated&nbsp; under the Companies Act, Special Act, Communication Act and Corporations Act.</span></span></span></span></p>

<p><span 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 drafting of the law has not been able to move ahead because the finance ministry is not clear about how to regulate the organisations that different in nature.</span></span></span></span></p>

<p><span 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 a high-ranking government official, the finance ministry had sought suggestions from the law ministry regarding the regulation of various organisations by forming a separate board.</span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;">&ldquo;What will happen to the existing laws? How can we bring all the organisations under the integrated law? We asked these questions to the finance ministry repeatedly but couldn&rsquo;t get a satisfactory answer,&rdquo; said an official at the law ministry.</span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;">The finance ministry is discussing on possible ways to move the drafting process ahead after the law ministry returns the file.</span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;">Joint secretary at the finance ministry Jhakka Prasad Acharya says they will remove the contradictory provisions in law and present the draft again to the law ministry.</span></span></span></span></p>

<p>&nbsp;</p>
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			'id' => '12662',
			'article_category_id' => '1',
			'title' => 'Nepal’s Foreign Trade Returning to Normalcy',
			'sub_title' => '',
			'summary' => 'November 10: Nepal’s foreign trade, which was badly affected by coronavirus and the subsequent lockdown imposed by the government, is returning back to normalcy. ',
			'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 10: Nepal&rsquo;s foreign trade, which was badly affected by coronavirus and the subsequent lockdown imposed by the government, is returning back to normalcy. The volume of import and export of goods through Birgunj Customs &ndash; the main transit point of the country &ndash; have started returning to pre-lockdown condition, according to the customs 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:&quot;Arial Unicode MS&quot;">Nepal&rsquo;s foreign trade slumped to a great extent due to the lockdown imposed on March 24 till July 20. It was further worsened by the two-month long prohibitory order issued after the government lifted the lockdown.</span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;">Although the government had prioritized import and export of goods and transportation as essential services, this sector couldn&rsquo;t remain unaffected by the impacts of lockdown.</span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;">Foreign trade reduced greatly due to the decline in market, demand and production. The country&rsquo;s foreign trade stated returning back to previous situation after the prohibitory orders were lifted on September 17. </span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;">Trade has increased gradually since then, according to customs officials at Birgunj Customs Office. </span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;">The volume of import from this customs point clearly indicates that the trade has improved since the start of the second quarter of current fiscal year.</span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;">Nepal Intermodal Transport Development Committee (NITDC), the operator of the Birgunj-based Integrated Check Post (ICP), informed that around 500 to 700 cargo vehicles have been entering Nepal through the check point on a daily basis.</span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;">Chief of NITDC Kamal Gyawali said that the number of vehicles entering Nepal through the check point is almost similar to those during the normal days. He said that only around 100 to 150 cargo vehicles used to enter Nepal during the lockdown period.</span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;">The ICP is facing parking problem due to the increase in number of vehicles entering the country. The ICP has a parking lot with capacity to accommodate 250 to 300 vehicles. Additional vehicles are forced to park on roadside.</span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;">Gyawali said that they will prepare an additional parking lot within one and a half months. He added that they have already added a new billing counter considering the rise in flow of vehicles.</span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;">Customs Officer Jagdish Purbe says that the number of vehicles entering Nepal through the Birgunj Dry Port has also increased.</span></span></span></span></p>

<p><span 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;Customs clearance of vehicles from the dry port has returned to normal situation in the last few days,&rdquo; said Purbe, adding, &ldquo;Around 300 to 350 containers are cleared by the dry port every day.&rdquo;</span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;">During the lockdown period, only around 100 containers used to arrive at the dry port every day.</span></span></span></span></p>

<p><span 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;Goods intended for the festive season have started arriving after the government lifted prohibitory order. It is clearly evident at the customs point,&rdquo; said Rajesh Kyal, a local businessman.</span></span></span></span></p>

<p>&nbsp;</p>
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			'title' => 'Demand for Medicines Increases',
			'sub_title' => '',
			'summary' => 'November 10: The demand for medicines which had declined after the government imposed lockdown in March has once again increased.',
			'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 10: The demand for medicines which had declined after the government imposed lockdown in March has once again increased.</span></span></span></span></p>

<p><span 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 demand for medicines took a free fall after the government imposed lockdown on March 24. The supply of medicines was also affected after India and China banned the export of certain drugs.</span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;">However, drug manufacturers and dealers say that the sale of medicines has increased after the government lifted lockdown in July. The demand once again plunged after the government issued prohibitory orders a month later. </span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;">Drug manufacturers reduced their production due to the low demand for medicines back then.</span></span></span></span></p>

<p><span 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 demand for all other medicines except those for emergency and chronic illness was almost zero. The drug manufacturers of Nepal lowered their production by almost 70 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;">The demand for medicines gradually increased after the government lifted the prohibitory orders in the second week of September. The drug manufacturers have since then imported a record high amount of raw materials required for production of medicines.</span></span></span></span></p>

<p><span 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 of Customs, raw materials worth Rs 10.5 billion and medicines worth Rs 18.83 billion were imported to Nepal in June/July. The import of medicines declined in July/August but again increased in August/September, according to the data kept by the department.</span></span></span></span></p>

<p><span 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 Narayan Bahadur Chhetri, president of the Association of Pharmaceutical Producers of Nepal, people were afraid to visit hospitals during the lockdown period which led to the decline in sale of medicines. However, the sale of medicines increased after people overcame their fears and started visiting hospitals.</span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;">However, Chhetri argues that the data of the Department of Customs show an increase in import of sanitizers, masks and other health equipment but not medicines.</span></span></span></span></p>

<p><span 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 said that although there is more demand for medicines as compared to the lockdown period, the demand is yet to return to the previous level.</span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times">&nbsp;</span></span></p>

<p>&nbsp;</p>
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	(int) 6 => array(
		'Article' => array(
			'id' => '12660',
			'article_category_id' => '1',
			'title' => '52 Projects backed by Foreign Investors Registered during Lockdown',
			'sub_title' => '',
			'summary' => 'November 10: The registration of projects under foreign investment continued even during the lockdown period. ',
			'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 10: The registration of projects under foreign investment continued even during the lockdown period. </span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;">A total of 52 projects with investment from five different nations were registered at the Department of Industry through the local agents between March 24 to July 20, when the government had imposed a nation-wide lockdown.</span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;">However, the number of projects registered during the review period was comparatively less than that registered in 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;">According to the department, investors from China, India, Singapore, Malaysia, and the Netherlands had registered the projects worth Rs 8.37 billion during the lockdown period.</span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;">Information Officer of the department Binod Khadgi informed New Business Age that the department was open and the employees worked in different shifts during the lockdown period. According to him, the foreign investors did not visit Nepal in person but registered the projects through their local agents.</span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;">&ldquo;Foreign companies can appoint attorney-in-fact or hand over the power of attorney to the local agents to register projects in Nepal,&rdquo; said Khadgi.</span></span></span></span></p>

<p><span 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, a considerable number of projects with Chinese investment were registered in Nepal.</span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;">Among the 52 projects registered during lockdown, 45 were backed by Chinese investors. Most of the projects in&nbsp; which the Chinese investors were interested in were related to the service sector and tourism industry followed by information technology and production sector.</span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;">The projects with Chinese investors alone are worth Rs 7.53 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;">Indian investors ranked second among foreign investors registering their projects in Nepal during lockdown. They were also interested in the service sector and tourism. The Indian projects are worth Rs 707.5 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;">Investors from Malaysia and Singapore have registered one project each in tourism and service sectors while the Netherlands has registered two projects.</span></span></span></span></p>

<p><span 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 corresponding period of last fiscal year, a total of 138 projects with investment from 18 different countries were registered in Nepal.</span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;">The investors were from China, India, Malaysia, Singapore, the Netherlands, Bangladesh, Australia, Myanmar, Germany, Japan, South Korea, Turkey, the UK, the USA, South Africa among others. The investment commitment for the projects was worth Rs 19.36 billion back then.</span></span></span></span></p>

<p>&nbsp;</p>

<p>&nbsp;</p>
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	(int) 7 => array(
		'Article' => array(
			'id' => '12659',
			'article_category_id' => '1',
			'title' => 'Government Preparing to Sign Agreement with UK to End Double Taxation ',
			'sub_title' => '',
			'summary' => 'November 9: The government has started homework to sign an agreement with the UK to end double taxation. ',
			'content' => '<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Devanagari Sangam MN&quot;">November 9: </span></span><span style="font-size:14.0pt"><span style="font-family:&quot;Bangla MN&quot;">The government has started homework to sign an agreement with the UK to end double taxation. According to the Ministry of Finance, the government is preparing to sign the agreement to attract investors by ending the compulsion for them to pay the same tax twice.</span></span></span></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;">Due to lack of an agreement with Britain to end double taxation, businessmen are forced to pay income tax for their annual transactions in both countries. This has reportedly discouraged foreign investment in Nepal.</span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Bangla MN&quot;">According to the ministry, the Government of Nepal has already exchanged letters with the UK government for ending double taxation between the two 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;">Some issues are yet to be sorted out and they are close to a final deal, officials privy to the matter informed New Business Age.</span></span></span></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;">Revenue Secretary Ram Sharan Pudasaini said that the two countries will sign the agreement soon.</span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Bangla MN&quot;">According to him, there is a high possibility of massive investment from Britain once the agreement is signed. Pudasaini said that Nepal will also sign agreements to end double taxation with other countries that are likely to invest in Nepal.</span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Bangla MN&quot;">The Inland Revenue Department said that the government is also preparing to sign similar agreements with Malaysia, Singapore, USA, Japan, Canada, Brazil and Oman.</span></span></span></span></p>

<p>&nbsp;</p>
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	(int) 8 => array(
		'Article' => array(
			'id' => '12658',
			'article_category_id' => '1',
			'title' => '‘Government’s Apathy Results in Shrinking Jute Farming’',
			'sub_title' => '',
			'summary' => 'November 9: Jute farming has been shrinking because the government has not paid proper attention to promote jute farming in the country. ',
			'content' => '<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;">November 9: Jute farming has been shrinking because the government has not paid proper attention to promote jute farming in the country. </span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;">As a result of decline in jute farming, the import of jute has been increasing. </span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;">The government is planning to promote 15 varieties of crop under the Prime Minister&rsquo;s Agriculture Modernization Project. Farmers will be provided grants on fertilizers, seeds, equipment and technology with the objective of increasing production. However, jute farming which is basically done in Jhapa, Morang and Sunsari does not fall under the 15 different crop.</span></span></span></span></p>

<p><span 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 provincial government had allocated budget for two years to operate blocks for jute farming but that has been removed from the annual budget 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;">Nepal&rsquo;s dependency on imported jute is growing because both the provincial and the federal governments have not prioritized jute farming, which was once a major cash crop of Nepal.</span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;">Two decades ago, jute farming was done on 56,000 hectares of land but that has now shrunk to just 11,000 hectares 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;">Earlier, Nepal used to produce 80,000 metric tons of jute within the country while now the production has declined to 20,000 metric tons.</span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;">Five jute industries along the Sunsari-Morang Industrial Corridor have been importing raw jute from India following the decline in production within Nepal.</span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;">Nepal Jute, Biratnagar Jute Mill, CM Jute, Guheshwari Turbine, Pathibhara Jute and Nikki Jute Mill are among the six jute industries that have shut down in recent days. </span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;">Other jute mills like Ahiranta, Raghupati, Baba,&nbsp; Swastik and Chandra Shiva Jute Mill are still operational. The jute industries give direct employment to 15,000 people.</span></span></span></span></p>

<p><span 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 six jute mills were forced to shut down within a decade because they had to import raw jute from India and Bangladesh and sell the refined products to the same countries at a competitive price.</span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;">Of late, the ailing jute industry has been badly affected by the impact of 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:&quot;Arial Unicode MS&quot;">Chairman of Nepal Jute Mills Association Raj Kumar Golchha says that the production of unrefined jute in Nepal has been declining because the government has not brought any programmes to promote jute farming. This has also led to Nepal&rsquo;s dependency on India for jute, 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;">As a result, Nepali jute industries are on the verge of collapse.</span></span></span></span></p>

<p>&nbsp;</p>
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	(int) 9 => array(
		'Article' => array(
			'id' => '12657',
			'article_category_id' => '1',
			'title' => 'Prices of Consumable Items Skyrocket After Dashain',
			'sub_title' => '',
			'summary' => 'November 9: The prices of food items have skyrocketed after the end of Dashain. ',
			'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 9: The prices of food items have skyrocketed after the end of Dashain. The sudden price hike has occurred at a time when the country is preparing to celebrate the festival of Tihar. It has been reported that the prices of food items have increased by up to 25 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;">According to the Retail Business Association of Nepal, the prices of lentil, edible oil, sugar and pulses have increased recently. </span></span></span></span></p>

<p><span 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 retail price of beans has increased from Rs 120 to Rs 150 per kg after Dashain, which is a 25 percent hike. Likewise, the price of grams has increased by 14 percent from Rs 110 to Rs 125 per kg.</span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;">Likewise, the price of green peas has increased by Rs 20 per kg from Rs 115 to Rs 135. Sugar, which used to cost Rs 80 per kg before Dashain, now costs Rs 90 per kg.</span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;">The price of sunflower oil has increased by 9 percent from Rs 170 per litre to Rs 185 per litre. Likewise, mustard oil price has shot up by 13 percent from Rs 230 per litre to Rs 260 per litre while the price of soybean oil has increased by 14 percent from Rs 150 per litre to Rs 170 per litre.</span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;">Local businessmen say that the price of food items generally go up during festivals like Dashain, Tihar and Chhath because there&nbsp; is high demand&nbsp; during the festive season. However, they admit that there hasn&rsquo;t been any significant rise in demand at the moment and the supply chain also remains smooth. In this context, the price hike in the country is a result of the impact of international market, says Subodh Kumar Gupta, chairman of Association of Nepalese Pulses, Rice and Oil Industry. </span></span></span></span></p>

<p><span 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 him, Nepal imports lentil, pulses and edible oil from countries like Australia, Canada, Malaysia and India. He argues that the prices of food items in those countries itself have increased, resulting in a price hike in Nepal.</span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;">However, retailers have been accusing the wholesalers of fixing the prices arbitrarily.</span></span></span></span></p>

<p>&nbsp;</p>
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	(int) 10 => array(
		'Article' => array(
			'id' => '12656',
			'article_category_id' => '1',
			'title' => 'ICP Infrastructure Inadequate to Meet its Target',
			'sub_title' => '',
			'summary' => 'November 9: The infrastructure of the Integrated Check Post (ICP), which was conceptualized for managing the import and export from Birgunj customs through a single point, has become inadequate to meet its objectives.',
			'content' => '<p><span style="font-family:Arial,Helvetica,sans-serif"><span style="font-size:18px">November 9: The infrastructure of the Integrated Check Post (ICP), which was conceptualized for managing the import and export from Birgunj customs through a single point, has become inadequate to meet its objectives. The infrastructure of ICP has become insufficient as the import and export through Inarwa checkpoint of Birgunj have been diverted to the ICP. </span></span></p>

<p><span style="font-family:Arial,Helvetica,sans-serif"><span style="font-size:18px">The government had planned to merge the Birgunj Dry Port with the ICP by expanding the latter&rsquo;s infrastructure. The plan to acquire 63 bighas of land between ICP and the dry port has been awaiting the decision of the Council of Ministers since five years. </span></span></p>

<p><span style="font-family:Arial,Helvetica,sans-serif"><span style="font-size:18px">The land acquisition process has not been able to progress as the government has not taken the final decision to acquire the land even after fixing the compensation amount. </span></span></p>

<p><span style="font-family:Arial,Helvetica,sans-serif"><span style="font-size:18px">Although some raw materials of cement and iron industries and petroleum products enter through the Inarwa customs, most of the imports and exports take through the ICP. However, the government&#39;s decision to merge the dry port with the ICP has not been implemented yet. </span></span></p>

<p><span style="font-family:Arial,Helvetica,sans-serif"><span style="font-size:18px">Ashok Temani, chairman of the Road Transport and Transit Committee of the Federation of Nepalese Chambers of Commerce and Industry (FNCCI), says that the existing infrastructures of the ICP have become insufficient within three years of its operation.</span></span></p>

<p><span style="font-family:Arial,Helvetica,sans-serif"><span style="font-size:18px">&nbsp;&quot;We have been saying that the structure of the ICP is not practical. However, the government did not listen to the concerned parties at that time. Now, the ICP has become chaotic without being able to operate in full capacity,&rdquo; said Temani. </span></span></p>

<p><span style="font-family:Arial,Helvetica,sans-serif"><span style="font-size:18px">The importer says that the ICP lacks essential infrastructure including parking lot, warehouse and shed. </span></span></p>

<p><span style="font-family:Arial,Helvetica,sans-serif"><span style="font-size:18px">&ldquo;If for any reason the inspection of goods gets delayed, the importers are forced to pay for the detention of vehicles,&rdquo; said Ashok Kumar Baidya, vice-president of Province 2 chapter of FNCCI.</span></span></p>

<p><span style="font-family:Arial,Helvetica,sans-serif"><span style="font-size:18px">Customs officials say that the infrastructure of the ICP has become inadequate after the import and export of goods from Inarwa were channelized to the ICP.</span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;">&ldquo;The ICP&rsquo;s infrastructure has become inadequate to deal with all the goods because it has been handling the works of two customs offices,&rdquo; said a customs official requesting anonymity.</span></span></span></span></p>

<p><span 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 ICP was built with Indian assistance and is spread across 116 bigha land toward the Nepali side and covers 100 bigha of land on the Indian soil. Although both sides of the ICP have similar infrastructure, the Nepali side seems to be congested, says Temani.</span></span></span></span></p>

<p><span 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;Since India exports more goods, it doesn&rsquo;t require as much parking lots and warehouse as we do,&rdquo; said Temani.</span></span></span></span></p>

<p><span 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 suggests that the government should immediately acquire the land in between the ICP and the dry port and develop facilities such as warehouses and parking lots.</span></span></span></span></p>

<p><span 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;If the government is not capable to do so, it can hand over the responsibility to the private sector,&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;">Other importers say that the import has been increasing every year and therefore urged the government not to neglect the issue.</span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;">Another importer Suresh Rungata says they have been forced to station their vehicles on the road due to lack of adequate infrastructure within the ICP. He complained that the ICP has been charging parking fare even for vehicles that are parked on the road.</span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;">The government has handed the responsibility of operating the ICP to Nepal Intermodal Transportation Development Committee.</span></span></span></span></p>

<p>&nbsp;</p>
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	(int) 11 => array(
		'Article' => array(
			'id' => '12655',
			'article_category_id' => '1',
			'title' => 'CCMC Recommends Ending Chartered Flights for Rescue Operation ',
			'sub_title' => '',
			'summary' => 'November 9: The Covid-19 Crisis Management Centre (CCMC) has recommended the government to halt chartered flights to rescue Nepali citizens stranded abroad due to the coronavirus pandemic.',
			'content' => '<p><span style="font-size:12pt"><span style="font-family:Cambria"><span style="font-size:14.0pt"><span style="font-family:Arial">November 9: The Covid-19 Crisis Management Centre (CCMC) has recommended the government to halt chartered flights to rescue Nepali citizens stranded abroad due to the coronavirus pandemic.</span></span></span></span></p>

<p><span style="font-size:12pt"><span style="font-family:Cambria"><span style="font-size:14.0pt"><span style="font-family:Arial">The CCMC took such decision during a meeting held on Sunday (November 8), arguing that most of the stranded Nepalis have been already rescued from foreign countries. </span></span></span></span></p>

<p><span style="font-size:12pt"><span style="font-family:Cambria"><span style="font-size:14.0pt"><span style="font-family:Arial">CCMC decided to recommend the government to halt the rescue flights as all diplomatic missions of Nepal have reported rescuing almost all stranded citizens.</span></span></span></span></p>

<p><span style="font-size:12pt"><span style="font-family:Cambria"><span style="font-size:14.0pt"><span style="font-family:Arial">If there is need to rescue any citizens then the government can provide help through regular flights instead of chartered flights, CCMC said in the recommendation.</span></span></span></span></p>

<p>&nbsp;</p>

<p><span style="font-size:12pt"><span style="font-family:Cambria"><span style="font-size:14.0pt"><span style="font-family:Arial">Secretary at the Office of the Prime Minister and Council of Ministers Mahendra Prasad Guragain informed that the CCMC has &nbsp;also suggested the government to reopen cable cars, jungle safari and adventure tourism in the country. </span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:Arial">The CCMC has also requested the government to set up health units at local levels for consultations considering the increase in number of people staying in home isolation.</span></span></span></span></p>

<p><span style="font-size:12pt"><span style="font-family:Cambria"><span style="font-size:14.0pt"><span style="font-family:Arial">According to the CCMC, the government has so far rescued a total of 136,216 citizens stranded in 60 different countries since the pandemic started spreading across the globe. </span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;">Altogether 40,230 Nepali citizens were rescued from Dubai which is the maximum number of people brought home from any particular country. Likewise, the lease number of Nepali rescued from abroad was from Somalia, where only one Nepali citizen was stranded.</span></span></span></span></p>

<p><span 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, hundreds of thousands of Nepalis returned home during the pandemic from India through land route but only 89 were airlifted from the neighbouring country.</span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;">A total of 634 Nepali citizens stranded in China were rescued during the crisis.</span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;">A total of 930 flights were conducted to airlift the stranded citizens. Among those flights, 454 were regular flights while the remaining were chartered flights.</span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;">The government had decided to rescue its stranded citizens five months ago although it had imposed lockdown seven months ago. The citizens were rescued on priority basis, taking into consideration the age, gender and other factors such as health.</span></span></span></span></p>

<p>&nbsp;</p>
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			'id' => '12654',
			'article_category_id' => '266',
			'title' => 'Radisson Hotel Reopens Rooftop Restaurant',
			'sub_title' => '',
			'summary' => 'November 8: Radisson Hotel Kathmandu has announced the reopening of its rooftop restaurant “Terrace Garden”. ',
			'content' => '<p><span style="font-size:12pt"><span style="font-family:Cambria"><span style="font-size:15.0pt"><span style="font-family:Arial">November 8: Radisson Hotel Kathmandu has announced the reopening of its rooftop restaurant &ldquo;Terrace Garden&rdquo;. </span></span></span></span></p>

<p><span style="font-size:12pt"><span style="font-family:Cambria"><span style="font-size:15.0pt"><span style="font-family:Arial">The hotel made the announcement in a recent statement.</span></span></span></span></p>

<p><span style="font-size:12pt"><span style="font-family:Cambria"><span style="font-size:15.0pt"><span style="font-family:Arial">According to the hotel, the &ldquo;Terrace Garden&rdquo; offers sumptuous dishes and spectacular outdoor view where visitors can indulge in light dishes, snacks, and drinks while surrounded by the lush rooftop garden.</span></span></span></span></p>

<p><span style="font-size:12pt"><span style="font-family:Cambria"><span style="font-size:15.0pt"><span style="font-family:Arial">The hotel has invited guests to join them for the &ldquo;safest&rdquo; dine-in experience.</span></span></span></span></p>

<p><span style="font-size:12pt"><span style="font-family:Cambria"><span style="font-size:15.0pt"><span style="font-family:Arial">The Terrace Garden will be open from 12 in the afternoon till 8pm, the statement added.</span></span></span></span></p>

<p><span style="font-size:12pt"><span style="font-family:Cambria"> </span></span></p>

<p>&nbsp;</p>
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			'id' => '12653',
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			'title' => 'NRA Fixes Final Deadline for Grant Distribution',
			'sub_title' => '',
			'summary' => 'November 8: The National Reconstruction Authority (NRA) has fixed the final date for people affected by the 2015 earthquake to receive housing grant. ',
			'content' => '<p><span style="font-size:12pt"><span style="font-family:Cambria"><span style="font-size:14.0pt"><span style="font-family:Arial">November 8: The National Reconstruction Authority (NRA) has fixed the final date for people affected by the 2015 earthquake to receive housing grant. The NRA has fixed the final deadline for the beneficiaries to receive all three installments of private housing grant as its five-year mandate to complete the reconstruction task is nearing its end.</span></span></span></span></p>

<p><span style="font-size:12pt"><span style="font-family:Cambria"><span style="font-size:14.0pt"><span style="font-family:Arial">According to the new deadline, the beneficiaries who have signed agreement for reconstruction and retrofitting will have to collect the first installment by December 30. </span></span></span></span></p>

<p><span style="font-size:12pt"><span style="font-family:Cambria"><span style="font-size:14.0pt"><span style="font-family:Arial">Similarly, all the beneficiaries who have already acquired the first installment and have started reconstruction work will have to apply for the certification at the concerned local level by mid-January (January 12) to get the second installment. </span></span></span></span></p>

<p><span style="font-size:12pt"><span style="font-family:Cambria"><span style="font-size:14.0pt"><span style="font-family:Arial">The final installment can be claimed after providing the certification to the local level by mid-May next year (May 14). </span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:Arial">Deputy Spokesperson of NRA, Manohar Ghimire said that this will be the final deadline as the authority&#39;s term will end by that time.</span></span></span></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 NRA has also requested all eligible beneficiaries who want to demolish their old house and re-build a new house to apply to the concerned local units as soon as possible.</span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times">&nbsp;</span></span></p>

<p>&nbsp;</p>
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	(int) 14 => array(
		'Article' => array(
			'id' => '12652',
			'article_category_id' => '1',
			'title' => 'Foreign Countries Demand  100,000 Nepali workers ',
			'sub_title' => '',
			'summary' => 'November 8: Gulf countries such as the UAE and Saudi Arabia that are considered attractive for foreign employment have demanded 100,000 labourers. ',
			'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 8: Gulf countries such as the UAE and Saudi Arabia that are considered attractive for foreign employment have demanded 100,000 labourers. </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;">Despite the demand for a large number of workers from those countries at a time when Nepal is facing rising unemployment due to COVID-19, the concerned authorities are yet to attest the demand letter. </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;">Due to a large number of migrant workers returning home from Gulf countries amid COVID-19 pandemic, there is a huge demand for workers in those countries. </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 manpower agents, human resource companies have been bankrupt for some time due to the coronavirus crisis, but as the situation has returned to normal, there is a demand for workers from those countries, especially in the service sector, such as hospitals, hotels, super stores and construction. </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 demand of workers in Saudi Arabia alone is around 50,000. Likewise, the UAE, Oman, Bahrain and other countries have also asked to send workers to their countries. However, Bishnu Gaire, president of Nepal Association of Foreign Employment Agencies (NAFEA), said that the problem has arisen because Nepal&rsquo;s embassies and foreign missions there have not verified the demand letter. </span></span></span></span></p>

<p><span style="font-size:11pt"><span style="font-family:Calibri"><span style="font-size:14.0pt"><span style="font-family:&quot;Times New Roman&quot;">He said that even though the government of Nepal lifted the ban on foreign employment in August, the diplomatic missions did not certify the demand letter citing coronavirus as the main reason. </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;">An official at Nepal&rsquo;s embassy in Saudi Arabia admitted that they have not been able to focus on certifying the demand letter as they were struggling to manage workers who have lost employment due to coronavirus. </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;">&quot;There is a lot of work to be done with limited manpower. There is a need to verify a large number of demand forms. Due to lack of human resources, it is difficult to verify the demand immediately,&quot; a senior official at the Nepalese Embassy in Abu Dhabi told New Business Age. </span></span></span></span></p>

<p>&nbsp;</p>
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		'Article' => array(
			'id' => '12667',
			'article_category_id' => '1',
			'title' => 'Former CEO of Nepal Tourism Board Bags Int’l Award',
			'sub_title' => '',
			'summary' => 'November 11: World Tourism Network has honoured former CEO of Nepal Tourism Board Deepak Raj Joshi with an international award.',
			'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 11: World Tourism Network has honoured former CEO of Nepal Tourism Board Deepak Raj Joshi with an international award.</span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;">Joshi has also become the first person from South Asia to bag the prestigious International Hall of Tourism Heroes title.</span></span></span></span></p>

<p><span 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 network informed that the Joshi was conferred the award for his relentless effort in promotion and development of tourism and his efforts to revitalize the tourism industry that has been reeling under the effects of Covid-19.</span></span></span></span></p>

<p><span 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 winners of the award is selected from among the names recommended from across the world and the network ensures that people with immense contribution to the tourism sector and active persons are selected for the honour.</span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;">Other persons to win the award include Tourism Minister of Seychelles Alain St Ange, director of Vicky Group Vijay Ponusammy, Chairman of African Tourism Board Cuthbert Ncube, former tourism minister of Zimbabwe Dr Walter Mezembe, former general secretary of World Tourism Board Dr Taleb Rifai, Kenya&rsquo;s tourism secretary Najib Balla and Jamaica&rsquo;s Tourism Minister Edmund Barlett. </span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;">After receiving the award, Joshi thanked the World Tourism Network for recognizing his contributions to the development and revival of the tourism sector.</span></span></span></span></p>

<p>&nbsp;</p>
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		'Article' => array(
			'id' => '12666',
			'article_category_id' => '1',
			'title' => 'Government’s Decision to Waive Tax on Import of Books gets Mixed Reaction',
			'sub_title' => '',
			'summary' => 'November 11: The local entrepreneurs of Nepal have opposed the government’s decision to waive 10 percent tax on import of books from abroad. ',
			'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 11: The local entrepreneurs of Nepal have opposed the government&rsquo;s decision to waive 10 percent tax on import of books from abroad. They say that the government&rsquo;s decision to remove the tax imposed on books but to give continuity to tax on import of paper would land the country&rsquo;s industries in trouble.</span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;">Former Finance Minister Yuba Raj Khatiwada had stood in favour of the tax on import of books despite criticism from various quarters. However, the Council of Ministers on Monday decided to lift the additional 10 percent customs duty imposed on imported books. Prior to this, the government had been charging only 5 percent tax on such books.</span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;">The government enjoys the privilege to change the tax rate as per the Financial Act 2077. The Council of Minister used the&nbsp; same act to remove the tax upon the recommendation of Finance Minister Bishnu Poudel, informed Dr Prakash Shrestha, financial advisor to the finance minister. </span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;">Dr Shrestha argued that the decision will not impact the local industries of Nepal.</span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;">The import of books had declined after the then Finance Minister Yuba Raj Khatiwada imposed 10 percent excise duty on imported books about a year ago. Khatiwada took such decision after it was found that the Nepali publishers used to publish books abroad and then import the books to Nepal by evading 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:&quot;Arial Unicode MS&quot;">Newly-appointed Finance Minister Poudel revoked the decision taken by the former minister in a around month since his appointment.</span></span></span></span></p>

<p><span 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 has waived the tax on imported books, it continues to collect tax from books printed 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 books published inside the country have to incur 15 percent taxes on import of paper and an additional 13 percent value added tax. In addition to that, the government also charges tax for printing due to which the local entrepreneurs have to pay a total of 31 percent tax to the government.</span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;">Manohar Das Mool, one of the importers of paper, says it is unfair to waive the tax on import of books while charging excessive taxes on books published within the country.</span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;">However, book stores and stationery shops have welcomed the decision of the government to remove the tax on imported books.</span></span></span></span></p>

<p>&nbsp;</p>
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	(int) 2 => array(
		'Article' => array(
			'id' => '12664',
			'article_category_id' => '1',
			'title' => 'Commercial Banks to be Closed for 3 Days during Tihar',
			'sub_title' => '',
			'summary' => 'November 11: All the branches of commercial banks will be closed for three days during the upcoming Tihar festival.',
			'content' => '<p><span style="font-size:12pt"><span style="font-family:Cambria"><span style="font-size:14.0pt"><span style="font-family:Arial">November 11: All the branches of commercial banks will be closed for three days during the upcoming Tihar festival.</span></span></span></span></p>

<p><span style="font-size:12pt"><span style="font-family:Cambria"><span style="font-size:14.0pt"><span style="font-family:Arial">The Nepal Bankers Association said in a statement that all the branches of commercial banks will be closed for three days from November 14 to 16. </span></span></span></span></p>

<p><span style="font-size:12pt"><span style="font-family:Cambria"><span style="font-size:14.0pt"><span style="font-family:Arial">The association decided to close the branch offices during the festive season in view of the increasing number of coronavirus cases among bank employees. </span></span></span></span></p>

<p><span style="font-size:12pt"><span style="font-family:Cambria"><span style="font-size:14.0pt"><span style="font-family:Arial">So far, more than 6000 employees of different banks have been infected with coronavirus, the bankers&rsquo; association said.</span></span></span></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 association informed that digital banking services will remain operational during the festive season and has urged everyone to use these online services to minimize the risk of virus transmission. </span></span></span></span></p>

<p>&nbsp;</p>

<p><span style="font-size:12pt"><span style="font-family:Cambria"><span style="font-size:14.0pt"><span style="font-family:Arial">Earlier, the banks had been providing 365 days a year service to their customers including in festivals like Dashain and Tihar through limited branches. </span></span></span></span></p>

<p><span style="font-size:12pt"><span style="font-family:Cambria"><span style="font-size:14.0pt"><span style="font-family:Arial">This year, however, the banks have chosen to remain closed during the festive season. </span></span></span></span></p>

<p>&nbsp;</p>

<p>&nbsp;</p>
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	(int) 3 => array(
		'Article' => array(
			'id' => '12663',
			'article_category_id' => '1',
			'title' => 'Finance Ministry’s Plan to Draft Integrated Law Suffers a Setback',
			'sub_title' => '',
			'summary' => 'November 10: The government’s plan to introduce an integrate law to regulate various organisations has been halted.',
			'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 10: The government&rsquo;s plan to introduce an integrate law to regulate various organisations has been halted.</span></span></span></span></p>

<p><span 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 Ministry of Finance had prepared a draft of the law six months ago and presented it to the Ministry of Law for suggestions. But the file is gathering dust at the ministry as the government has failed to justify the need for such law.</span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;">Altogether 37 corporations that are in existence are being operated&nbsp; under the Companies Act, Special Act, Communication Act and Corporations Act.</span></span></span></span></p>

<p><span 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 drafting of the law has not been able to move ahead because the finance ministry is not clear about how to regulate the organisations that different in nature.</span></span></span></span></p>

<p><span 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 a high-ranking government official, the finance ministry had sought suggestions from the law ministry regarding the regulation of various organisations by forming a separate board.</span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;">&ldquo;What will happen to the existing laws? How can we bring all the organisations under the integrated law? We asked these questions to the finance ministry repeatedly but couldn&rsquo;t get a satisfactory answer,&rdquo; said an official at the law ministry.</span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;">The finance ministry is discussing on possible ways to move the drafting process ahead after the law ministry returns the file.</span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;">Joint secretary at the finance ministry Jhakka Prasad Acharya says they will remove the contradictory provisions in law and present the draft again to the law ministry.</span></span></span></span></p>

<p>&nbsp;</p>
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	(int) 4 => array(
		'Article' => array(
			'id' => '12662',
			'article_category_id' => '1',
			'title' => 'Nepal’s Foreign Trade Returning to Normalcy',
			'sub_title' => '',
			'summary' => 'November 10: Nepal’s foreign trade, which was badly affected by coronavirus and the subsequent lockdown imposed by the government, is returning back to normalcy. ',
			'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 10: Nepal&rsquo;s foreign trade, which was badly affected by coronavirus and the subsequent lockdown imposed by the government, is returning back to normalcy. The volume of import and export of goods through Birgunj Customs &ndash; the main transit point of the country &ndash; have started returning to pre-lockdown condition, according to the customs 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:&quot;Arial Unicode MS&quot;">Nepal&rsquo;s foreign trade slumped to a great extent due to the lockdown imposed on March 24 till July 20. It was further worsened by the two-month long prohibitory order issued after the government lifted the lockdown.</span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;">Although the government had prioritized import and export of goods and transportation as essential services, this sector couldn&rsquo;t remain unaffected by the impacts of lockdown.</span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;">Foreign trade reduced greatly due to the decline in market, demand and production. The country&rsquo;s foreign trade stated returning back to previous situation after the prohibitory orders were lifted on September 17. </span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;">Trade has increased gradually since then, according to customs officials at Birgunj Customs Office. </span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;">The volume of import from this customs point clearly indicates that the trade has improved since the start of the second quarter of current fiscal year.</span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;">Nepal Intermodal Transport Development Committee (NITDC), the operator of the Birgunj-based Integrated Check Post (ICP), informed that around 500 to 700 cargo vehicles have been entering Nepal through the check point on a daily basis.</span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;">Chief of NITDC Kamal Gyawali said that the number of vehicles entering Nepal through the check point is almost similar to those during the normal days. He said that only around 100 to 150 cargo vehicles used to enter Nepal during the lockdown period.</span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;">The ICP is facing parking problem due to the increase in number of vehicles entering the country. The ICP has a parking lot with capacity to accommodate 250 to 300 vehicles. Additional vehicles are forced to park on roadside.</span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;">Gyawali said that they will prepare an additional parking lot within one and a half months. He added that they have already added a new billing counter considering the rise in flow of vehicles.</span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;">Customs Officer Jagdish Purbe says that the number of vehicles entering Nepal through the Birgunj Dry Port has also increased.</span></span></span></span></p>

<p><span 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;Customs clearance of vehicles from the dry port has returned to normal situation in the last few days,&rdquo; said Purbe, adding, &ldquo;Around 300 to 350 containers are cleared by the dry port every day.&rdquo;</span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;">During the lockdown period, only around 100 containers used to arrive at the dry port every day.</span></span></span></span></p>

<p><span 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;Goods intended for the festive season have started arriving after the government lifted prohibitory order. It is clearly evident at the customs point,&rdquo; said Rajesh Kyal, a local businessman.</span></span></span></span></p>

<p>&nbsp;</p>
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	(int) 5 => array(
		'Article' => array(
			'id' => '12661',
			'article_category_id' => '1',
			'title' => 'Demand for Medicines Increases',
			'sub_title' => '',
			'summary' => 'November 10: The demand for medicines which had declined after the government imposed lockdown in March has once again increased.',
			'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 10: The demand for medicines which had declined after the government imposed lockdown in March has once again increased.</span></span></span></span></p>

<p><span 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 demand for medicines took a free fall after the government imposed lockdown on March 24. The supply of medicines was also affected after India and China banned the export of certain drugs.</span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;">However, drug manufacturers and dealers say that the sale of medicines has increased after the government lifted lockdown in July. The demand once again plunged after the government issued prohibitory orders a month later. </span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;">Drug manufacturers reduced their production due to the low demand for medicines back then.</span></span></span></span></p>

<p><span 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 demand for all other medicines except those for emergency and chronic illness was almost zero. The drug manufacturers of Nepal lowered their production by almost 70 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;">The demand for medicines gradually increased after the government lifted the prohibitory orders in the second week of September. The drug manufacturers have since then imported a record high amount of raw materials required for production of medicines.</span></span></span></span></p>

<p><span 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 of Customs, raw materials worth Rs 10.5 billion and medicines worth Rs 18.83 billion were imported to Nepal in June/July. The import of medicines declined in July/August but again increased in August/September, according to the data kept by the department.</span></span></span></span></p>

<p><span 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 Narayan Bahadur Chhetri, president of the Association of Pharmaceutical Producers of Nepal, people were afraid to visit hospitals during the lockdown period which led to the decline in sale of medicines. However, the sale of medicines increased after people overcame their fears and started visiting hospitals.</span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;">However, Chhetri argues that the data of the Department of Customs show an increase in import of sanitizers, masks and other health equipment but not medicines.</span></span></span></span></p>

<p><span 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 said that although there is more demand for medicines as compared to the lockdown period, the demand is yet to return to the previous level.</span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times">&nbsp;</span></span></p>

<p>&nbsp;</p>
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	(int) 6 => array(
		'Article' => array(
			'id' => '12660',
			'article_category_id' => '1',
			'title' => '52 Projects backed by Foreign Investors Registered during Lockdown',
			'sub_title' => '',
			'summary' => 'November 10: The registration of projects under foreign investment continued even during the lockdown period. ',
			'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 10: The registration of projects under foreign investment continued even during the lockdown period. </span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;">A total of 52 projects with investment from five different nations were registered at the Department of Industry through the local agents between March 24 to July 20, when the government had imposed a nation-wide lockdown.</span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;">However, the number of projects registered during the review period was comparatively less than that registered in 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;">According to the department, investors from China, India, Singapore, Malaysia, and the Netherlands had registered the projects worth Rs 8.37 billion during the lockdown period.</span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;">Information Officer of the department Binod Khadgi informed New Business Age that the department was open and the employees worked in different shifts during the lockdown period. According to him, the foreign investors did not visit Nepal in person but registered the projects through their local agents.</span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;">&ldquo;Foreign companies can appoint attorney-in-fact or hand over the power of attorney to the local agents to register projects in Nepal,&rdquo; said Khadgi.</span></span></span></span></p>

<p><span 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, a considerable number of projects with Chinese investment were registered in Nepal.</span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;">Among the 52 projects registered during lockdown, 45 were backed by Chinese investors. Most of the projects in&nbsp; which the Chinese investors were interested in were related to the service sector and tourism industry followed by information technology and production sector.</span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;">The projects with Chinese investors alone are worth Rs 7.53 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;">Indian investors ranked second among foreign investors registering their projects in Nepal during lockdown. They were also interested in the service sector and tourism. The Indian projects are worth Rs 707.5 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;">Investors from Malaysia and Singapore have registered one project each in tourism and service sectors while the Netherlands has registered two projects.</span></span></span></span></p>

<p><span 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 corresponding period of last fiscal year, a total of 138 projects with investment from 18 different countries were registered in Nepal.</span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;">The investors were from China, India, Malaysia, Singapore, the Netherlands, Bangladesh, Australia, Myanmar, Germany, Japan, South Korea, Turkey, the UK, the USA, South Africa among others. The investment commitment for the projects was worth Rs 19.36 billion back then.</span></span></span></span></p>

<p>&nbsp;</p>

<p>&nbsp;</p>
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	(int) 7 => array(
		'Article' => array(
			'id' => '12659',
			'article_category_id' => '1',
			'title' => 'Government Preparing to Sign Agreement with UK to End Double Taxation ',
			'sub_title' => '',
			'summary' => 'November 9: The government has started homework to sign an agreement with the UK to end double taxation. ',
			'content' => '<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Devanagari Sangam MN&quot;">November 9: </span></span><span style="font-size:14.0pt"><span style="font-family:&quot;Bangla MN&quot;">The government has started homework to sign an agreement with the UK to end double taxation. According to the Ministry of Finance, the government is preparing to sign the agreement to attract investors by ending the compulsion for them to pay the same tax twice.</span></span></span></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;">Due to lack of an agreement with Britain to end double taxation, businessmen are forced to pay income tax for their annual transactions in both countries. This has reportedly discouraged foreign investment in Nepal.</span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Bangla MN&quot;">According to the ministry, the Government of Nepal has already exchanged letters with the UK government for ending double taxation between the two 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;">Some issues are yet to be sorted out and they are close to a final deal, officials privy to the matter informed New Business Age.</span></span></span></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;">Revenue Secretary Ram Sharan Pudasaini said that the two countries will sign the agreement soon.</span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Bangla MN&quot;">According to him, there is a high possibility of massive investment from Britain once the agreement is signed. Pudasaini said that Nepal will also sign agreements to end double taxation with other countries that are likely to invest in Nepal.</span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Bangla MN&quot;">The Inland Revenue Department said that the government is also preparing to sign similar agreements with Malaysia, Singapore, USA, Japan, Canada, Brazil and Oman.</span></span></span></span></p>

<p>&nbsp;</p>
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	(int) 8 => array(
		'Article' => array(
			'id' => '12658',
			'article_category_id' => '1',
			'title' => '‘Government’s Apathy Results in Shrinking Jute Farming’',
			'sub_title' => '',
			'summary' => 'November 9: Jute farming has been shrinking because the government has not paid proper attention to promote jute farming in the country. ',
			'content' => '<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;">November 9: Jute farming has been shrinking because the government has not paid proper attention to promote jute farming in the country. </span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;">As a result of decline in jute farming, the import of jute has been increasing. </span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;">The government is planning to promote 15 varieties of crop under the Prime Minister&rsquo;s Agriculture Modernization Project. Farmers will be provided grants on fertilizers, seeds, equipment and technology with the objective of increasing production. However, jute farming which is basically done in Jhapa, Morang and Sunsari does not fall under the 15 different crop.</span></span></span></span></p>

<p><span 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 provincial government had allocated budget for two years to operate blocks for jute farming but that has been removed from the annual budget 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;">Nepal&rsquo;s dependency on imported jute is growing because both the provincial and the federal governments have not prioritized jute farming, which was once a major cash crop of Nepal.</span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;">Two decades ago, jute farming was done on 56,000 hectares of land but that has now shrunk to just 11,000 hectares 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;">Earlier, Nepal used to produce 80,000 metric tons of jute within the country while now the production has declined to 20,000 metric tons.</span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;">Five jute industries along the Sunsari-Morang Industrial Corridor have been importing raw jute from India following the decline in production within Nepal.</span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;">Nepal Jute, Biratnagar Jute Mill, CM Jute, Guheshwari Turbine, Pathibhara Jute and Nikki Jute Mill are among the six jute industries that have shut down in recent days. </span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;">Other jute mills like Ahiranta, Raghupati, Baba,&nbsp; Swastik and Chandra Shiva Jute Mill are still operational. The jute industries give direct employment to 15,000 people.</span></span></span></span></p>

<p><span 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 six jute mills were forced to shut down within a decade because they had to import raw jute from India and Bangladesh and sell the refined products to the same countries at a competitive price.</span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;">Of late, the ailing jute industry has been badly affected by the impact of 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:&quot;Arial Unicode MS&quot;">Chairman of Nepal Jute Mills Association Raj Kumar Golchha says that the production of unrefined jute in Nepal has been declining because the government has not brought any programmes to promote jute farming. This has also led to Nepal&rsquo;s dependency on India for jute, 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;">As a result, Nepali jute industries are on the verge of collapse.</span></span></span></span></p>

<p>&nbsp;</p>
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	(int) 9 => array(
		'Article' => array(
			'id' => '12657',
			'article_category_id' => '1',
			'title' => 'Prices of Consumable Items Skyrocket After Dashain',
			'sub_title' => '',
			'summary' => 'November 9: The prices of food items have skyrocketed after the end of Dashain. ',
			'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 9: The prices of food items have skyrocketed after the end of Dashain. The sudden price hike has occurred at a time when the country is preparing to celebrate the festival of Tihar. It has been reported that the prices of food items have increased by up to 25 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;">According to the Retail Business Association of Nepal, the prices of lentil, edible oil, sugar and pulses have increased recently. </span></span></span></span></p>

<p><span 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 retail price of beans has increased from Rs 120 to Rs 150 per kg after Dashain, which is a 25 percent hike. Likewise, the price of grams has increased by 14 percent from Rs 110 to Rs 125 per kg.</span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;">Likewise, the price of green peas has increased by Rs 20 per kg from Rs 115 to Rs 135. Sugar, which used to cost Rs 80 per kg before Dashain, now costs Rs 90 per kg.</span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;">The price of sunflower oil has increased by 9 percent from Rs 170 per litre to Rs 185 per litre. Likewise, mustard oil price has shot up by 13 percent from Rs 230 per litre to Rs 260 per litre while the price of soybean oil has increased by 14 percent from Rs 150 per litre to Rs 170 per litre.</span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;">Local businessmen say that the price of food items generally go up during festivals like Dashain, Tihar and Chhath because there&nbsp; is high demand&nbsp; during the festive season. However, they admit that there hasn&rsquo;t been any significant rise in demand at the moment and the supply chain also remains smooth. In this context, the price hike in the country is a result of the impact of international market, says Subodh Kumar Gupta, chairman of Association of Nepalese Pulses, Rice and Oil Industry. </span></span></span></span></p>

<p><span 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 him, Nepal imports lentil, pulses and edible oil from countries like Australia, Canada, Malaysia and India. He argues that the prices of food items in those countries itself have increased, resulting in a price hike in Nepal.</span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;">However, retailers have been accusing the wholesalers of fixing the prices arbitrarily.</span></span></span></span></p>

<p>&nbsp;</p>
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	(int) 10 => array(
		'Article' => array(
			'id' => '12656',
			'article_category_id' => '1',
			'title' => 'ICP Infrastructure Inadequate to Meet its Target',
			'sub_title' => '',
			'summary' => 'November 9: The infrastructure of the Integrated Check Post (ICP), which was conceptualized for managing the import and export from Birgunj customs through a single point, has become inadequate to meet its objectives.',
			'content' => '<p><span style="font-family:Arial,Helvetica,sans-serif"><span style="font-size:18px">November 9: The infrastructure of the Integrated Check Post (ICP), which was conceptualized for managing the import and export from Birgunj customs through a single point, has become inadequate to meet its objectives. The infrastructure of ICP has become insufficient as the import and export through Inarwa checkpoint of Birgunj have been diverted to the ICP. </span></span></p>

<p><span style="font-family:Arial,Helvetica,sans-serif"><span style="font-size:18px">The government had planned to merge the Birgunj Dry Port with the ICP by expanding the latter&rsquo;s infrastructure. The plan to acquire 63 bighas of land between ICP and the dry port has been awaiting the decision of the Council of Ministers since five years. </span></span></p>

<p><span style="font-family:Arial,Helvetica,sans-serif"><span style="font-size:18px">The land acquisition process has not been able to progress as the government has not taken the final decision to acquire the land even after fixing the compensation amount. </span></span></p>

<p><span style="font-family:Arial,Helvetica,sans-serif"><span style="font-size:18px">Although some raw materials of cement and iron industries and petroleum products enter through the Inarwa customs, most of the imports and exports take through the ICP. However, the government&#39;s decision to merge the dry port with the ICP has not been implemented yet. </span></span></p>

<p><span style="font-family:Arial,Helvetica,sans-serif"><span style="font-size:18px">Ashok Temani, chairman of the Road Transport and Transit Committee of the Federation of Nepalese Chambers of Commerce and Industry (FNCCI), says that the existing infrastructures of the ICP have become insufficient within three years of its operation.</span></span></p>

<p><span style="font-family:Arial,Helvetica,sans-serif"><span style="font-size:18px">&nbsp;&quot;We have been saying that the structure of the ICP is not practical. However, the government did not listen to the concerned parties at that time. Now, the ICP has become chaotic without being able to operate in full capacity,&rdquo; said Temani. </span></span></p>

<p><span style="font-family:Arial,Helvetica,sans-serif"><span style="font-size:18px">The importer says that the ICP lacks essential infrastructure including parking lot, warehouse and shed. </span></span></p>

<p><span style="font-family:Arial,Helvetica,sans-serif"><span style="font-size:18px">&ldquo;If for any reason the inspection of goods gets delayed, the importers are forced to pay for the detention of vehicles,&rdquo; said Ashok Kumar Baidya, vice-president of Province 2 chapter of FNCCI.</span></span></p>

<p><span style="font-family:Arial,Helvetica,sans-serif"><span style="font-size:18px">Customs officials say that the infrastructure of the ICP has become inadequate after the import and export of goods from Inarwa were channelized to the ICP.</span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;">&ldquo;The ICP&rsquo;s infrastructure has become inadequate to deal with all the goods because it has been handling the works of two customs offices,&rdquo; said a customs official requesting anonymity.</span></span></span></span></p>

<p><span 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 ICP was built with Indian assistance and is spread across 116 bigha land toward the Nepali side and covers 100 bigha of land on the Indian soil. Although both sides of the ICP have similar infrastructure, the Nepali side seems to be congested, says Temani.</span></span></span></span></p>

<p><span 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;Since India exports more goods, it doesn&rsquo;t require as much parking lots and warehouse as we do,&rdquo; said Temani.</span></span></span></span></p>

<p><span 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 suggests that the government should immediately acquire the land in between the ICP and the dry port and develop facilities such as warehouses and parking lots.</span></span></span></span></p>

<p><span 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;If the government is not capable to do so, it can hand over the responsibility to the private sector,&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;">Other importers say that the import has been increasing every year and therefore urged the government not to neglect the issue.</span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;">Another importer Suresh Rungata says they have been forced to station their vehicles on the road due to lack of adequate infrastructure within the ICP. He complained that the ICP has been charging parking fare even for vehicles that are parked on the road.</span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;">The government has handed the responsibility of operating the ICP to Nepal Intermodal Transportation Development Committee.</span></span></span></span></p>

<p>&nbsp;</p>
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	(int) 11 => array(
		'Article' => array(
			'id' => '12655',
			'article_category_id' => '1',
			'title' => 'CCMC Recommends Ending Chartered Flights for Rescue Operation ',
			'sub_title' => '',
			'summary' => 'November 9: The Covid-19 Crisis Management Centre (CCMC) has recommended the government to halt chartered flights to rescue Nepali citizens stranded abroad due to the coronavirus pandemic.',
			'content' => '<p><span style="font-size:12pt"><span style="font-family:Cambria"><span style="font-size:14.0pt"><span style="font-family:Arial">November 9: The Covid-19 Crisis Management Centre (CCMC) has recommended the government to halt chartered flights to rescue Nepali citizens stranded abroad due to the coronavirus pandemic.</span></span></span></span></p>

<p><span style="font-size:12pt"><span style="font-family:Cambria"><span style="font-size:14.0pt"><span style="font-family:Arial">The CCMC took such decision during a meeting held on Sunday (November 8), arguing that most of the stranded Nepalis have been already rescued from foreign countries. </span></span></span></span></p>

<p><span style="font-size:12pt"><span style="font-family:Cambria"><span style="font-size:14.0pt"><span style="font-family:Arial">CCMC decided to recommend the government to halt the rescue flights as all diplomatic missions of Nepal have reported rescuing almost all stranded citizens.</span></span></span></span></p>

<p><span style="font-size:12pt"><span style="font-family:Cambria"><span style="font-size:14.0pt"><span style="font-family:Arial">If there is need to rescue any citizens then the government can provide help through regular flights instead of chartered flights, CCMC said in the recommendation.</span></span></span></span></p>

<p>&nbsp;</p>

<p><span style="font-size:12pt"><span style="font-family:Cambria"><span style="font-size:14.0pt"><span style="font-family:Arial">Secretary at the Office of the Prime Minister and Council of Ministers Mahendra Prasad Guragain informed that the CCMC has &nbsp;also suggested the government to reopen cable cars, jungle safari and adventure tourism in the country. </span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:Arial">The CCMC has also requested the government to set up health units at local levels for consultations considering the increase in number of people staying in home isolation.</span></span></span></span></p>

<p><span style="font-size:12pt"><span style="font-family:Cambria"><span style="font-size:14.0pt"><span style="font-family:Arial">According to the CCMC, the government has so far rescued a total of 136,216 citizens stranded in 60 different countries since the pandemic started spreading across the globe. </span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;">Altogether 40,230 Nepali citizens were rescued from Dubai which is the maximum number of people brought home from any particular country. Likewise, the lease number of Nepali rescued from abroad was from Somalia, where only one Nepali citizen was stranded.</span></span></span></span></p>

<p><span 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, hundreds of thousands of Nepalis returned home during the pandemic from India through land route but only 89 were airlifted from the neighbouring country.</span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;">A total of 634 Nepali citizens stranded in China were rescued during the crisis.</span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;">A total of 930 flights were conducted to airlift the stranded citizens. Among those flights, 454 were regular flights while the remaining were chartered flights.</span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;">The government had decided to rescue its stranded citizens five months ago although it had imposed lockdown seven months ago. The citizens were rescued on priority basis, taking into consideration the age, gender and other factors such as health.</span></span></span></span></p>

<p>&nbsp;</p>
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	(int) 12 => array(
		'Article' => array(
			'id' => '12654',
			'article_category_id' => '266',
			'title' => 'Radisson Hotel Reopens Rooftop Restaurant',
			'sub_title' => '',
			'summary' => 'November 8: Radisson Hotel Kathmandu has announced the reopening of its rooftop restaurant “Terrace Garden”. ',
			'content' => '<p><span style="font-size:12pt"><span style="font-family:Cambria"><span style="font-size:15.0pt"><span style="font-family:Arial">November 8: Radisson Hotel Kathmandu has announced the reopening of its rooftop restaurant &ldquo;Terrace Garden&rdquo;. </span></span></span></span></p>

<p><span style="font-size:12pt"><span style="font-family:Cambria"><span style="font-size:15.0pt"><span style="font-family:Arial">The hotel made the announcement in a recent statement.</span></span></span></span></p>

<p><span style="font-size:12pt"><span style="font-family:Cambria"><span style="font-size:15.0pt"><span style="font-family:Arial">According to the hotel, the &ldquo;Terrace Garden&rdquo; offers sumptuous dishes and spectacular outdoor view where visitors can indulge in light dishes, snacks, and drinks while surrounded by the lush rooftop garden.</span></span></span></span></p>

<p><span style="font-size:12pt"><span style="font-family:Cambria"><span style="font-size:15.0pt"><span style="font-family:Arial">The hotel has invited guests to join them for the &ldquo;safest&rdquo; dine-in experience.</span></span></span></span></p>

<p><span style="font-size:12pt"><span style="font-family:Cambria"><span style="font-size:15.0pt"><span style="font-family:Arial">The Terrace Garden will be open from 12 in the afternoon till 8pm, the statement added.</span></span></span></span></p>

<p><span style="font-size:12pt"><span style="font-family:Cambria"> </span></span></p>

<p>&nbsp;</p>
',
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	(int) 13 => array(
		'Article' => array(
			'id' => '12653',
			'article_category_id' => '1',
			'title' => 'NRA Fixes Final Deadline for Grant Distribution',
			'sub_title' => '',
			'summary' => 'November 8: The National Reconstruction Authority (NRA) has fixed the final date for people affected by the 2015 earthquake to receive housing grant. ',
			'content' => '<p><span style="font-size:12pt"><span style="font-family:Cambria"><span style="font-size:14.0pt"><span style="font-family:Arial">November 8: The National Reconstruction Authority (NRA) has fixed the final date for people affected by the 2015 earthquake to receive housing grant. The NRA has fixed the final deadline for the beneficiaries to receive all three installments of private housing grant as its five-year mandate to complete the reconstruction task is nearing its end.</span></span></span></span></p>

<p><span style="font-size:12pt"><span style="font-family:Cambria"><span style="font-size:14.0pt"><span style="font-family:Arial">According to the new deadline, the beneficiaries who have signed agreement for reconstruction and retrofitting will have to collect the first installment by December 30. </span></span></span></span></p>

<p><span style="font-size:12pt"><span style="font-family:Cambria"><span style="font-size:14.0pt"><span style="font-family:Arial">Similarly, all the beneficiaries who have already acquired the first installment and have started reconstruction work will have to apply for the certification at the concerned local level by mid-January (January 12) to get the second installment. </span></span></span></span></p>

<p><span style="font-size:12pt"><span style="font-family:Cambria"><span style="font-size:14.0pt"><span style="font-family:Arial">The final installment can be claimed after providing the certification to the local level by mid-May next year (May 14). </span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:Arial">Deputy Spokesperson of NRA, Manohar Ghimire said that this will be the final deadline as the authority&#39;s term will end by that time.</span></span></span></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 NRA has also requested all eligible beneficiaries who want to demolish their old house and re-build a new house to apply to the concerned local units as soon as possible.</span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times">&nbsp;</span></span></p>

<p>&nbsp;</p>
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			'id' => '12652',
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			'title' => 'Foreign Countries Demand  100,000 Nepali workers ',
			'sub_title' => '',
			'summary' => 'November 8: Gulf countries such as the UAE and Saudi Arabia that are considered attractive for foreign employment have demanded 100,000 labourers. ',
			'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 8: Gulf countries such as the UAE and Saudi Arabia that are considered attractive for foreign employment have demanded 100,000 labourers. </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;">Despite the demand for a large number of workers from those countries at a time when Nepal is facing rising unemployment due to COVID-19, the concerned authorities are yet to attest the demand letter. </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;">Due to a large number of migrant workers returning home from Gulf countries amid COVID-19 pandemic, there is a huge demand for workers in those countries. </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 manpower agents, human resource companies have been bankrupt for some time due to the coronavirus crisis, but as the situation has returned to normal, there is a demand for workers from those countries, especially in the service sector, such as hospitals, hotels, super stores and construction. </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 demand of workers in Saudi Arabia alone is around 50,000. Likewise, the UAE, Oman, Bahrain and other countries have also asked to send workers to their countries. However, Bishnu Gaire, president of Nepal Association of Foreign Employment Agencies (NAFEA), said that the problem has arisen because Nepal&rsquo;s embassies and foreign missions there have not verified the demand letter. </span></span></span></span></p>

<p><span style="font-size:11pt"><span style="font-family:Calibri"><span style="font-size:14.0pt"><span style="font-family:&quot;Times New Roman&quot;">He said that even though the government of Nepal lifted the ban on foreign employment in August, the diplomatic missions did not certify the demand letter citing coronavirus as the main reason. </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;">An official at Nepal&rsquo;s embassy in Saudi Arabia admitted that they have not been able to focus on certifying the demand letter as they were struggling to manage workers who have lost employment due to coronavirus. </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;">&quot;There is a lot of work to be done with limited manpower. There is a need to verify a large number of demand forms. Due to lack of human resources, it is difficult to verify the demand immediately,&quot; a senior official at the Nepalese Embassy in Abu Dhabi told New Business Age. </span></span></span></span></p>

<p>&nbsp;</p>
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		'Article' => array(
			'id' => '12667',
			'article_category_id' => '1',
			'title' => 'Former CEO of Nepal Tourism Board Bags Int’l Award',
			'sub_title' => '',
			'summary' => 'November 11: World Tourism Network has honoured former CEO of Nepal Tourism Board Deepak Raj Joshi with an international award.',
			'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 11: World Tourism Network has honoured former CEO of Nepal Tourism Board Deepak Raj Joshi with an international award.</span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;">Joshi has also become the first person from South Asia to bag the prestigious International Hall of Tourism Heroes title.</span></span></span></span></p>

<p><span 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 network informed that the Joshi was conferred the award for his relentless effort in promotion and development of tourism and his efforts to revitalize the tourism industry that has been reeling under the effects of Covid-19.</span></span></span></span></p>

<p><span 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 winners of the award is selected from among the names recommended from across the world and the network ensures that people with immense contribution to the tourism sector and active persons are selected for the honour.</span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;">Other persons to win the award include Tourism Minister of Seychelles Alain St Ange, director of Vicky Group Vijay Ponusammy, Chairman of African Tourism Board Cuthbert Ncube, former tourism minister of Zimbabwe Dr Walter Mezembe, former general secretary of World Tourism Board Dr Taleb Rifai, Kenya&rsquo;s tourism secretary Najib Balla and Jamaica&rsquo;s Tourism Minister Edmund Barlett. </span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;">After receiving the award, Joshi thanked the World Tourism Network for recognizing his contributions to the development and revival of the tourism sector.</span></span></span></span></p>

<p>&nbsp;</p>
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		'Article' => array(
			'id' => '12666',
			'article_category_id' => '1',
			'title' => 'Government’s Decision to Waive Tax on Import of Books gets Mixed Reaction',
			'sub_title' => '',
			'summary' => 'November 11: The local entrepreneurs of Nepal have opposed the government’s decision to waive 10 percent tax on import of books from abroad. ',
			'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 11: The local entrepreneurs of Nepal have opposed the government&rsquo;s decision to waive 10 percent tax on import of books from abroad. They say that the government&rsquo;s decision to remove the tax imposed on books but to give continuity to tax on import of paper would land the country&rsquo;s industries in trouble.</span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;">Former Finance Minister Yuba Raj Khatiwada had stood in favour of the tax on import of books despite criticism from various quarters. However, the Council of Ministers on Monday decided to lift the additional 10 percent customs duty imposed on imported books. Prior to this, the government had been charging only 5 percent tax on such books.</span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;">The government enjoys the privilege to change the tax rate as per the Financial Act 2077. The Council of Minister used the&nbsp; same act to remove the tax upon the recommendation of Finance Minister Bishnu Poudel, informed Dr Prakash Shrestha, financial advisor to the finance minister. </span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;">Dr Shrestha argued that the decision will not impact the local industries of Nepal.</span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;">The import of books had declined after the then Finance Minister Yuba Raj Khatiwada imposed 10 percent excise duty on imported books about a year ago. Khatiwada took such decision after it was found that the Nepali publishers used to publish books abroad and then import the books to Nepal by evading 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:&quot;Arial Unicode MS&quot;">Newly-appointed Finance Minister Poudel revoked the decision taken by the former minister in a around month since his appointment.</span></span></span></span></p>

<p><span 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 has waived the tax on imported books, it continues to collect tax from books printed 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 books published inside the country have to incur 15 percent taxes on import of paper and an additional 13 percent value added tax. In addition to that, the government also charges tax for printing due to which the local entrepreneurs have to pay a total of 31 percent tax to the government.</span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;">Manohar Das Mool, one of the importers of paper, says it is unfair to waive the tax on import of books while charging excessive taxes on books published within the country.</span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;">However, book stores and stationery shops have welcomed the decision of the government to remove the tax on imported books.</span></span></span></span></p>

<p>&nbsp;</p>
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		'Article' => array(
			'id' => '12664',
			'article_category_id' => '1',
			'title' => 'Commercial Banks to be Closed for 3 Days during Tihar',
			'sub_title' => '',
			'summary' => 'November 11: All the branches of commercial banks will be closed for three days during the upcoming Tihar festival.',
			'content' => '<p><span style="font-size:12pt"><span style="font-family:Cambria"><span style="font-size:14.0pt"><span style="font-family:Arial">November 11: All the branches of commercial banks will be closed for three days during the upcoming Tihar festival.</span></span></span></span></p>

<p><span style="font-size:12pt"><span style="font-family:Cambria"><span style="font-size:14.0pt"><span style="font-family:Arial">The Nepal Bankers Association said in a statement that all the branches of commercial banks will be closed for three days from November 14 to 16. </span></span></span></span></p>

<p><span style="font-size:12pt"><span style="font-family:Cambria"><span style="font-size:14.0pt"><span style="font-family:Arial">The association decided to close the branch offices during the festive season in view of the increasing number of coronavirus cases among bank employees. </span></span></span></span></p>

<p><span style="font-size:12pt"><span style="font-family:Cambria"><span style="font-size:14.0pt"><span style="font-family:Arial">So far, more than 6000 employees of different banks have been infected with coronavirus, the bankers&rsquo; association said.</span></span></span></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 association informed that digital banking services will remain operational during the festive season and has urged everyone to use these online services to minimize the risk of virus transmission. </span></span></span></span></p>

<p>&nbsp;</p>

<p><span style="font-size:12pt"><span style="font-family:Cambria"><span style="font-size:14.0pt"><span style="font-family:Arial">Earlier, the banks had been providing 365 days a year service to their customers including in festivals like Dashain and Tihar through limited branches. </span></span></span></span></p>

<p><span style="font-size:12pt"><span style="font-family:Cambria"><span style="font-size:14.0pt"><span style="font-family:Arial">This year, however, the banks have chosen to remain closed during the festive season. </span></span></span></span></p>

<p>&nbsp;</p>

<p>&nbsp;</p>
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		'Article' => array(
			'id' => '12663',
			'article_category_id' => '1',
			'title' => 'Finance Ministry’s Plan to Draft Integrated Law Suffers a Setback',
			'sub_title' => '',
			'summary' => 'November 10: The government’s plan to introduce an integrate law to regulate various organisations has been halted.',
			'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 10: The government&rsquo;s plan to introduce an integrate law to regulate various organisations has been halted.</span></span></span></span></p>

<p><span 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 Ministry of Finance had prepared a draft of the law six months ago and presented it to the Ministry of Law for suggestions. But the file is gathering dust at the ministry as the government has failed to justify the need for such law.</span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;">Altogether 37 corporations that are in existence are being operated&nbsp; under the Companies Act, Special Act, Communication Act and Corporations Act.</span></span></span></span></p>

<p><span 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 drafting of the law has not been able to move ahead because the finance ministry is not clear about how to regulate the organisations that different in nature.</span></span></span></span></p>

<p><span 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 a high-ranking government official, the finance ministry had sought suggestions from the law ministry regarding the regulation of various organisations by forming a separate board.</span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;">&ldquo;What will happen to the existing laws? How can we bring all the organisations under the integrated law? We asked these questions to the finance ministry repeatedly but couldn&rsquo;t get a satisfactory answer,&rdquo; said an official at the law ministry.</span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;">The finance ministry is discussing on possible ways to move the drafting process ahead after the law ministry returns the file.</span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;">Joint secretary at the finance ministry Jhakka Prasad Acharya says they will remove the contradictory provisions in law and present the draft again to the law ministry.</span></span></span></span></p>

<p>&nbsp;</p>
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		'Article' => array(
			'id' => '12662',
			'article_category_id' => '1',
			'title' => 'Nepal’s Foreign Trade Returning to Normalcy',
			'sub_title' => '',
			'summary' => 'November 10: Nepal’s foreign trade, which was badly affected by coronavirus and the subsequent lockdown imposed by the government, is returning back to normalcy. ',
			'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 10: Nepal&rsquo;s foreign trade, which was badly affected by coronavirus and the subsequent lockdown imposed by the government, is returning back to normalcy. The volume of import and export of goods through Birgunj Customs &ndash; the main transit point of the country &ndash; have started returning to pre-lockdown condition, according to the customs 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:&quot;Arial Unicode MS&quot;">Nepal&rsquo;s foreign trade slumped to a great extent due to the lockdown imposed on March 24 till July 20. It was further worsened by the two-month long prohibitory order issued after the government lifted the lockdown.</span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;">Although the government had prioritized import and export of goods and transportation as essential services, this sector couldn&rsquo;t remain unaffected by the impacts of lockdown.</span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;">Foreign trade reduced greatly due to the decline in market, demand and production. The country&rsquo;s foreign trade stated returning back to previous situation after the prohibitory orders were lifted on September 17. </span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;">Trade has increased gradually since then, according to customs officials at Birgunj Customs Office. </span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;">The volume of import from this customs point clearly indicates that the trade has improved since the start of the second quarter of current fiscal year.</span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;">Nepal Intermodal Transport Development Committee (NITDC), the operator of the Birgunj-based Integrated Check Post (ICP), informed that around 500 to 700 cargo vehicles have been entering Nepal through the check point on a daily basis.</span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;">Chief of NITDC Kamal Gyawali said that the number of vehicles entering Nepal through the check point is almost similar to those during the normal days. He said that only around 100 to 150 cargo vehicles used to enter Nepal during the lockdown period.</span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;">The ICP is facing parking problem due to the increase in number of vehicles entering the country. The ICP has a parking lot with capacity to accommodate 250 to 300 vehicles. Additional vehicles are forced to park on roadside.</span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;">Gyawali said that they will prepare an additional parking lot within one and a half months. He added that they have already added a new billing counter considering the rise in flow of vehicles.</span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;">Customs Officer Jagdish Purbe says that the number of vehicles entering Nepal through the Birgunj Dry Port has also increased.</span></span></span></span></p>

<p><span 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;Customs clearance of vehicles from the dry port has returned to normal situation in the last few days,&rdquo; said Purbe, adding, &ldquo;Around 300 to 350 containers are cleared by the dry port every day.&rdquo;</span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;">During the lockdown period, only around 100 containers used to arrive at the dry port every day.</span></span></span></span></p>

<p><span 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;Goods intended for the festive season have started arriving after the government lifted prohibitory order. It is clearly evident at the customs point,&rdquo; said Rajesh Kyal, a local businessman.</span></span></span></span></p>

<p>&nbsp;</p>
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	(int) 5 => array(
		'Article' => array(
			'id' => '12661',
			'article_category_id' => '1',
			'title' => 'Demand for Medicines Increases',
			'sub_title' => '',
			'summary' => 'November 10: The demand for medicines which had declined after the government imposed lockdown in March has once again increased.',
			'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 10: The demand for medicines which had declined after the government imposed lockdown in March has once again increased.</span></span></span></span></p>

<p><span 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 demand for medicines took a free fall after the government imposed lockdown on March 24. The supply of medicines was also affected after India and China banned the export of certain drugs.</span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;">However, drug manufacturers and dealers say that the sale of medicines has increased after the government lifted lockdown in July. The demand once again plunged after the government issued prohibitory orders a month later. </span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;">Drug manufacturers reduced their production due to the low demand for medicines back then.</span></span></span></span></p>

<p><span 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 demand for all other medicines except those for emergency and chronic illness was almost zero. The drug manufacturers of Nepal lowered their production by almost 70 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;">The demand for medicines gradually increased after the government lifted the prohibitory orders in the second week of September. The drug manufacturers have since then imported a record high amount of raw materials required for production of medicines.</span></span></span></span></p>

<p><span 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 of Customs, raw materials worth Rs 10.5 billion and medicines worth Rs 18.83 billion were imported to Nepal in June/July. The import of medicines declined in July/August but again increased in August/September, according to the data kept by the department.</span></span></span></span></p>

<p><span 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 Narayan Bahadur Chhetri, president of the Association of Pharmaceutical Producers of Nepal, people were afraid to visit hospitals during the lockdown period which led to the decline in sale of medicines. However, the sale of medicines increased after people overcame their fears and started visiting hospitals.</span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;">However, Chhetri argues that the data of the Department of Customs show an increase in import of sanitizers, masks and other health equipment but not medicines.</span></span></span></span></p>

<p><span 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 said that although there is more demand for medicines as compared to the lockdown period, the demand is yet to return to the previous level.</span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times">&nbsp;</span></span></p>

<p>&nbsp;</p>
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	(int) 6 => array(
		'Article' => array(
			'id' => '12660',
			'article_category_id' => '1',
			'title' => '52 Projects backed by Foreign Investors Registered during Lockdown',
			'sub_title' => '',
			'summary' => 'November 10: The registration of projects under foreign investment continued even during the lockdown period. ',
			'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 10: The registration of projects under foreign investment continued even during the lockdown period. </span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;">A total of 52 projects with investment from five different nations were registered at the Department of Industry through the local agents between March 24 to July 20, when the government had imposed a nation-wide lockdown.</span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;">However, the number of projects registered during the review period was comparatively less than that registered in 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;">According to the department, investors from China, India, Singapore, Malaysia, and the Netherlands had registered the projects worth Rs 8.37 billion during the lockdown period.</span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;">Information Officer of the department Binod Khadgi informed New Business Age that the department was open and the employees worked in different shifts during the lockdown period. According to him, the foreign investors did not visit Nepal in person but registered the projects through their local agents.</span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;">&ldquo;Foreign companies can appoint attorney-in-fact or hand over the power of attorney to the local agents to register projects in Nepal,&rdquo; said Khadgi.</span></span></span></span></p>

<p><span 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, a considerable number of projects with Chinese investment were registered in Nepal.</span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;">Among the 52 projects registered during lockdown, 45 were backed by Chinese investors. Most of the projects in&nbsp; which the Chinese investors were interested in were related to the service sector and tourism industry followed by information technology and production sector.</span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;">The projects with Chinese investors alone are worth Rs 7.53 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;">Indian investors ranked second among foreign investors registering their projects in Nepal during lockdown. They were also interested in the service sector and tourism. The Indian projects are worth Rs 707.5 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;">Investors from Malaysia and Singapore have registered one project each in tourism and service sectors while the Netherlands has registered two projects.</span></span></span></span></p>

<p><span 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 corresponding period of last fiscal year, a total of 138 projects with investment from 18 different countries were registered in Nepal.</span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;">The investors were from China, India, Malaysia, Singapore, the Netherlands, Bangladesh, Australia, Myanmar, Germany, Japan, South Korea, Turkey, the UK, the USA, South Africa among others. The investment commitment for the projects was worth Rs 19.36 billion back then.</span></span></span></span></p>

<p>&nbsp;</p>

<p>&nbsp;</p>
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		'Article' => array(
			'id' => '12659',
			'article_category_id' => '1',
			'title' => 'Government Preparing to Sign Agreement with UK to End Double Taxation ',
			'sub_title' => '',
			'summary' => 'November 9: The government has started homework to sign an agreement with the UK to end double taxation. ',
			'content' => '<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Devanagari Sangam MN&quot;">November 9: </span></span><span style="font-size:14.0pt"><span style="font-family:&quot;Bangla MN&quot;">The government has started homework to sign an agreement with the UK to end double taxation. According to the Ministry of Finance, the government is preparing to sign the agreement to attract investors by ending the compulsion for them to pay the same tax twice.</span></span></span></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;">Due to lack of an agreement with Britain to end double taxation, businessmen are forced to pay income tax for their annual transactions in both countries. This has reportedly discouraged foreign investment in Nepal.</span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Bangla MN&quot;">According to the ministry, the Government of Nepal has already exchanged letters with the UK government for ending double taxation between the two 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;">Some issues are yet to be sorted out and they are close to a final deal, officials privy to the matter informed New Business Age.</span></span></span></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;">Revenue Secretary Ram Sharan Pudasaini said that the two countries will sign the agreement soon.</span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Bangla MN&quot;">According to him, there is a high possibility of massive investment from Britain once the agreement is signed. Pudasaini said that Nepal will also sign agreements to end double taxation with other countries that are likely to invest in Nepal.</span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Bangla MN&quot;">The Inland Revenue Department said that the government is also preparing to sign similar agreements with Malaysia, Singapore, USA, Japan, Canada, Brazil and Oman.</span></span></span></span></p>

<p>&nbsp;</p>
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	(int) 8 => array(
		'Article' => array(
			'id' => '12658',
			'article_category_id' => '1',
			'title' => '‘Government’s Apathy Results in Shrinking Jute Farming’',
			'sub_title' => '',
			'summary' => 'November 9: Jute farming has been shrinking because the government has not paid proper attention to promote jute farming in the country. ',
			'content' => '<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;">November 9: Jute farming has been shrinking because the government has not paid proper attention to promote jute farming in the country. </span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;">As a result of decline in jute farming, the import of jute has been increasing. </span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;">The government is planning to promote 15 varieties of crop under the Prime Minister&rsquo;s Agriculture Modernization Project. Farmers will be provided grants on fertilizers, seeds, equipment and technology with the objective of increasing production. However, jute farming which is basically done in Jhapa, Morang and Sunsari does not fall under the 15 different crop.</span></span></span></span></p>

<p><span 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 provincial government had allocated budget for two years to operate blocks for jute farming but that has been removed from the annual budget 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;">Nepal&rsquo;s dependency on imported jute is growing because both the provincial and the federal governments have not prioritized jute farming, which was once a major cash crop of Nepal.</span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;">Two decades ago, jute farming was done on 56,000 hectares of land but that has now shrunk to just 11,000 hectares 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;">Earlier, Nepal used to produce 80,000 metric tons of jute within the country while now the production has declined to 20,000 metric tons.</span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;">Five jute industries along the Sunsari-Morang Industrial Corridor have been importing raw jute from India following the decline in production within Nepal.</span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;">Nepal Jute, Biratnagar Jute Mill, CM Jute, Guheshwari Turbine, Pathibhara Jute and Nikki Jute Mill are among the six jute industries that have shut down in recent days. </span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;">Other jute mills like Ahiranta, Raghupati, Baba,&nbsp; Swastik and Chandra Shiva Jute Mill are still operational. The jute industries give direct employment to 15,000 people.</span></span></span></span></p>

<p><span 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 six jute mills were forced to shut down within a decade because they had to import raw jute from India and Bangladesh and sell the refined products to the same countries at a competitive price.</span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;">Of late, the ailing jute industry has been badly affected by the impact of 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:&quot;Arial Unicode MS&quot;">Chairman of Nepal Jute Mills Association Raj Kumar Golchha says that the production of unrefined jute in Nepal has been declining because the government has not brought any programmes to promote jute farming. This has also led to Nepal&rsquo;s dependency on India for jute, 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;">As a result, Nepali jute industries are on the verge of collapse.</span></span></span></span></p>

<p>&nbsp;</p>
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	(int) 9 => array(
		'Article' => array(
			'id' => '12657',
			'article_category_id' => '1',
			'title' => 'Prices of Consumable Items Skyrocket After Dashain',
			'sub_title' => '',
			'summary' => 'November 9: The prices of food items have skyrocketed after the end of Dashain. ',
			'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 9: The prices of food items have skyrocketed after the end of Dashain. The sudden price hike has occurred at a time when the country is preparing to celebrate the festival of Tihar. It has been reported that the prices of food items have increased by up to 25 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;">According to the Retail Business Association of Nepal, the prices of lentil, edible oil, sugar and pulses have increased recently. </span></span></span></span></p>

<p><span 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 retail price of beans has increased from Rs 120 to Rs 150 per kg after Dashain, which is a 25 percent hike. Likewise, the price of grams has increased by 14 percent from Rs 110 to Rs 125 per kg.</span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;">Likewise, the price of green peas has increased by Rs 20 per kg from Rs 115 to Rs 135. Sugar, which used to cost Rs 80 per kg before Dashain, now costs Rs 90 per kg.</span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;">The price of sunflower oil has increased by 9 percent from Rs 170 per litre to Rs 185 per litre. Likewise, mustard oil price has shot up by 13 percent from Rs 230 per litre to Rs 260 per litre while the price of soybean oil has increased by 14 percent from Rs 150 per litre to Rs 170 per litre.</span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;">Local businessmen say that the price of food items generally go up during festivals like Dashain, Tihar and Chhath because there&nbsp; is high demand&nbsp; during the festive season. However, they admit that there hasn&rsquo;t been any significant rise in demand at the moment and the supply chain also remains smooth. In this context, the price hike in the country is a result of the impact of international market, says Subodh Kumar Gupta, chairman of Association of Nepalese Pulses, Rice and Oil Industry. </span></span></span></span></p>

<p><span 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 him, Nepal imports lentil, pulses and edible oil from countries like Australia, Canada, Malaysia and India. He argues that the prices of food items in those countries itself have increased, resulting in a price hike in Nepal.</span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;">However, retailers have been accusing the wholesalers of fixing the prices arbitrarily.</span></span></span></span></p>

<p>&nbsp;</p>
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			'article_category_id' => '1',
			'title' => 'ICP Infrastructure Inadequate to Meet its Target',
			'sub_title' => '',
			'summary' => 'November 9: The infrastructure of the Integrated Check Post (ICP), which was conceptualized for managing the import and export from Birgunj customs through a single point, has become inadequate to meet its objectives.',
			'content' => '<p><span style="font-family:Arial,Helvetica,sans-serif"><span style="font-size:18px">November 9: The infrastructure of the Integrated Check Post (ICP), which was conceptualized for managing the import and export from Birgunj customs through a single point, has become inadequate to meet its objectives. The infrastructure of ICP has become insufficient as the import and export through Inarwa checkpoint of Birgunj have been diverted to the ICP. </span></span></p>

<p><span style="font-family:Arial,Helvetica,sans-serif"><span style="font-size:18px">The government had planned to merge the Birgunj Dry Port with the ICP by expanding the latter&rsquo;s infrastructure. The plan to acquire 63 bighas of land between ICP and the dry port has been awaiting the decision of the Council of Ministers since five years. </span></span></p>

<p><span style="font-family:Arial,Helvetica,sans-serif"><span style="font-size:18px">The land acquisition process has not been able to progress as the government has not taken the final decision to acquire the land even after fixing the compensation amount. </span></span></p>

<p><span style="font-family:Arial,Helvetica,sans-serif"><span style="font-size:18px">Although some raw materials of cement and iron industries and petroleum products enter through the Inarwa customs, most of the imports and exports take through the ICP. However, the government&#39;s decision to merge the dry port with the ICP has not been implemented yet. </span></span></p>

<p><span style="font-family:Arial,Helvetica,sans-serif"><span style="font-size:18px">Ashok Temani, chairman of the Road Transport and Transit Committee of the Federation of Nepalese Chambers of Commerce and Industry (FNCCI), says that the existing infrastructures of the ICP have become insufficient within three years of its operation.</span></span></p>

<p><span style="font-family:Arial,Helvetica,sans-serif"><span style="font-size:18px">&nbsp;&quot;We have been saying that the structure of the ICP is not practical. However, the government did not listen to the concerned parties at that time. Now, the ICP has become chaotic without being able to operate in full capacity,&rdquo; said Temani. </span></span></p>

<p><span style="font-family:Arial,Helvetica,sans-serif"><span style="font-size:18px">The importer says that the ICP lacks essential infrastructure including parking lot, warehouse and shed. </span></span></p>

<p><span style="font-family:Arial,Helvetica,sans-serif"><span style="font-size:18px">&ldquo;If for any reason the inspection of goods gets delayed, the importers are forced to pay for the detention of vehicles,&rdquo; said Ashok Kumar Baidya, vice-president of Province 2 chapter of FNCCI.</span></span></p>

<p><span style="font-family:Arial,Helvetica,sans-serif"><span style="font-size:18px">Customs officials say that the infrastructure of the ICP has become inadequate after the import and export of goods from Inarwa were channelized to the ICP.</span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;">&ldquo;The ICP&rsquo;s infrastructure has become inadequate to deal with all the goods because it has been handling the works of two customs offices,&rdquo; said a customs official requesting anonymity.</span></span></span></span></p>

<p><span 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 ICP was built with Indian assistance and is spread across 116 bigha land toward the Nepali side and covers 100 bigha of land on the Indian soil. Although both sides of the ICP have similar infrastructure, the Nepali side seems to be congested, says Temani.</span></span></span></span></p>

<p><span 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;Since India exports more goods, it doesn&rsquo;t require as much parking lots and warehouse as we do,&rdquo; said Temani.</span></span></span></span></p>

<p><span 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 suggests that the government should immediately acquire the land in between the ICP and the dry port and develop facilities such as warehouses and parking lots.</span></span></span></span></p>

<p><span 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;If the government is not capable to do so, it can hand over the responsibility to the private sector,&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;">Other importers say that the import has been increasing every year and therefore urged the government not to neglect the issue.</span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;">Another importer Suresh Rungata says they have been forced to station their vehicles on the road due to lack of adequate infrastructure within the ICP. He complained that the ICP has been charging parking fare even for vehicles that are parked on the road.</span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;">The government has handed the responsibility of operating the ICP to Nepal Intermodal Transportation Development Committee.</span></span></span></span></p>

<p>&nbsp;</p>
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	(int) 11 => array(
		'Article' => array(
			'id' => '12655',
			'article_category_id' => '1',
			'title' => 'CCMC Recommends Ending Chartered Flights for Rescue Operation ',
			'sub_title' => '',
			'summary' => 'November 9: The Covid-19 Crisis Management Centre (CCMC) has recommended the government to halt chartered flights to rescue Nepali citizens stranded abroad due to the coronavirus pandemic.',
			'content' => '<p><span style="font-size:12pt"><span style="font-family:Cambria"><span style="font-size:14.0pt"><span style="font-family:Arial">November 9: The Covid-19 Crisis Management Centre (CCMC) has recommended the government to halt chartered flights to rescue Nepali citizens stranded abroad due to the coronavirus pandemic.</span></span></span></span></p>

<p><span style="font-size:12pt"><span style="font-family:Cambria"><span style="font-size:14.0pt"><span style="font-family:Arial">The CCMC took such decision during a meeting held on Sunday (November 8), arguing that most of the stranded Nepalis have been already rescued from foreign countries. </span></span></span></span></p>

<p><span style="font-size:12pt"><span style="font-family:Cambria"><span style="font-size:14.0pt"><span style="font-family:Arial">CCMC decided to recommend the government to halt the rescue flights as all diplomatic missions of Nepal have reported rescuing almost all stranded citizens.</span></span></span></span></p>

<p><span style="font-size:12pt"><span style="font-family:Cambria"><span style="font-size:14.0pt"><span style="font-family:Arial">If there is need to rescue any citizens then the government can provide help through regular flights instead of chartered flights, CCMC said in the recommendation.</span></span></span></span></p>

<p>&nbsp;</p>

<p><span style="font-size:12pt"><span style="font-family:Cambria"><span style="font-size:14.0pt"><span style="font-family:Arial">Secretary at the Office of the Prime Minister and Council of Ministers Mahendra Prasad Guragain informed that the CCMC has &nbsp;also suggested the government to reopen cable cars, jungle safari and adventure tourism in the country. </span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:Arial">The CCMC has also requested the government to set up health units at local levels for consultations considering the increase in number of people staying in home isolation.</span></span></span></span></p>

<p><span style="font-size:12pt"><span style="font-family:Cambria"><span style="font-size:14.0pt"><span style="font-family:Arial">According to the CCMC, the government has so far rescued a total of 136,216 citizens stranded in 60 different countries since the pandemic started spreading across the globe. </span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;">Altogether 40,230 Nepali citizens were rescued from Dubai which is the maximum number of people brought home from any particular country. Likewise, the lease number of Nepali rescued from abroad was from Somalia, where only one Nepali citizen was stranded.</span></span></span></span></p>

<p><span 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, hundreds of thousands of Nepalis returned home during the pandemic from India through land route but only 89 were airlifted from the neighbouring country.</span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;">A total of 634 Nepali citizens stranded in China were rescued during the crisis.</span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;">A total of 930 flights were conducted to airlift the stranded citizens. Among those flights, 454 were regular flights while the remaining were chartered flights.</span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;">The government had decided to rescue its stranded citizens five months ago although it had imposed lockdown seven months ago. The citizens were rescued on priority basis, taking into consideration the age, gender and other factors such as health.</span></span></span></span></p>

<p>&nbsp;</p>
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			'id' => '12654',
			'article_category_id' => '266',
			'title' => 'Radisson Hotel Reopens Rooftop Restaurant',
			'sub_title' => '',
			'summary' => 'November 8: Radisson Hotel Kathmandu has announced the reopening of its rooftop restaurant “Terrace Garden”. ',
			'content' => '<p><span style="font-size:12pt"><span style="font-family:Cambria"><span style="font-size:15.0pt"><span style="font-family:Arial">November 8: Radisson Hotel Kathmandu has announced the reopening of its rooftop restaurant &ldquo;Terrace Garden&rdquo;. </span></span></span></span></p>

<p><span style="font-size:12pt"><span style="font-family:Cambria"><span style="font-size:15.0pt"><span style="font-family:Arial">The hotel made the announcement in a recent statement.</span></span></span></span></p>

<p><span style="font-size:12pt"><span style="font-family:Cambria"><span style="font-size:15.0pt"><span style="font-family:Arial">According to the hotel, the &ldquo;Terrace Garden&rdquo; offers sumptuous dishes and spectacular outdoor view where visitors can indulge in light dishes, snacks, and drinks while surrounded by the lush rooftop garden.</span></span></span></span></p>

<p><span style="font-size:12pt"><span style="font-family:Cambria"><span style="font-size:15.0pt"><span style="font-family:Arial">The hotel has invited guests to join them for the &ldquo;safest&rdquo; dine-in experience.</span></span></span></span></p>

<p><span style="font-size:12pt"><span style="font-family:Cambria"><span style="font-size:15.0pt"><span style="font-family:Arial">The Terrace Garden will be open from 12 in the afternoon till 8pm, the statement added.</span></span></span></span></p>

<p><span style="font-size:12pt"><span style="font-family:Cambria"> </span></span></p>

<p>&nbsp;</p>
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			'id' => '12653',
			'article_category_id' => '1',
			'title' => 'NRA Fixes Final Deadline for Grant Distribution',
			'sub_title' => '',
			'summary' => 'November 8: The National Reconstruction Authority (NRA) has fixed the final date for people affected by the 2015 earthquake to receive housing grant. ',
			'content' => '<p><span style="font-size:12pt"><span style="font-family:Cambria"><span style="font-size:14.0pt"><span style="font-family:Arial">November 8: The National Reconstruction Authority (NRA) has fixed the final date for people affected by the 2015 earthquake to receive housing grant. The NRA has fixed the final deadline for the beneficiaries to receive all three installments of private housing grant as its five-year mandate to complete the reconstruction task is nearing its end.</span></span></span></span></p>

<p><span style="font-size:12pt"><span style="font-family:Cambria"><span style="font-size:14.0pt"><span style="font-family:Arial">According to the new deadline, the beneficiaries who have signed agreement for reconstruction and retrofitting will have to collect the first installment by December 30. </span></span></span></span></p>

<p><span style="font-size:12pt"><span style="font-family:Cambria"><span style="font-size:14.0pt"><span style="font-family:Arial">Similarly, all the beneficiaries who have already acquired the first installment and have started reconstruction work will have to apply for the certification at the concerned local level by mid-January (January 12) to get the second installment. </span></span></span></span></p>

<p><span style="font-size:12pt"><span style="font-family:Cambria"><span style="font-size:14.0pt"><span style="font-family:Arial">The final installment can be claimed after providing the certification to the local level by mid-May next year (May 14). </span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:Arial">Deputy Spokesperson of NRA, Manohar Ghimire said that this will be the final deadline as the authority&#39;s term will end by that time.</span></span></span></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 NRA has also requested all eligible beneficiaries who want to demolish their old house and re-build a new house to apply to the concerned local units as soon as possible.</span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times">&nbsp;</span></span></p>

<p>&nbsp;</p>
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	(int) 14 => array(
		'Article' => array(
			'id' => '12652',
			'article_category_id' => '1',
			'title' => 'Foreign Countries Demand  100,000 Nepali workers ',
			'sub_title' => '',
			'summary' => 'November 8: Gulf countries such as the UAE and Saudi Arabia that are considered attractive for foreign employment have demanded 100,000 labourers. ',
			'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 8: Gulf countries such as the UAE and Saudi Arabia that are considered attractive for foreign employment have demanded 100,000 labourers. </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;">Despite the demand for a large number of workers from those countries at a time when Nepal is facing rising unemployment due to COVID-19, the concerned authorities are yet to attest the demand letter. </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;">Due to a large number of migrant workers returning home from Gulf countries amid COVID-19 pandemic, there is a huge demand for workers in those countries. </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 manpower agents, human resource companies have been bankrupt for some time due to the coronavirus crisis, but as the situation has returned to normal, there is a demand for workers from those countries, especially in the service sector, such as hospitals, hotels, super stores and construction. </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 demand of workers in Saudi Arabia alone is around 50,000. Likewise, the UAE, Oman, Bahrain and other countries have also asked to send workers to their countries. However, Bishnu Gaire, president of Nepal Association of Foreign Employment Agencies (NAFEA), said that the problem has arisen because Nepal&rsquo;s embassies and foreign missions there have not verified the demand letter. </span></span></span></span></p>

<p><span style="font-size:11pt"><span style="font-family:Calibri"><span style="font-size:14.0pt"><span style="font-family:&quot;Times New Roman&quot;">He said that even though the government of Nepal lifted the ban on foreign employment in August, the diplomatic missions did not certify the demand letter citing coronavirus as the main reason. </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;">An official at Nepal&rsquo;s embassy in Saudi Arabia admitted that they have not been able to focus on certifying the demand letter as they were struggling to manage workers who have lost employment due to coronavirus. </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;">&quot;There is a lot of work to be done with limited manpower. There is a need to verify a large number of demand forms. Due to lack of human resources, it is difficult to verify the demand immediately,&quot; a senior official at the Nepalese Embassy in Abu Dhabi told New Business Age. </span></span></span></span></p>

<p>&nbsp;</p>
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			'id' => '12667',
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			'title' => 'Former CEO of Nepal Tourism Board Bags Int’l Award',
			'sub_title' => '',
			'summary' => 'November 11: World Tourism Network has honoured former CEO of Nepal Tourism Board Deepak Raj Joshi with an international award.',
			'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 11: World Tourism Network has honoured former CEO of Nepal Tourism Board Deepak Raj Joshi with an international award.</span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;">Joshi has also become the first person from South Asia to bag the prestigious International Hall of Tourism Heroes title.</span></span></span></span></p>

<p><span 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 network informed that the Joshi was conferred the award for his relentless effort in promotion and development of tourism and his efforts to revitalize the tourism industry that has been reeling under the effects of Covid-19.</span></span></span></span></p>

<p><span 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 winners of the award is selected from among the names recommended from across the world and the network ensures that people with immense contribution to the tourism sector and active persons are selected for the honour.</span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;">Other persons to win the award include Tourism Minister of Seychelles Alain St Ange, director of Vicky Group Vijay Ponusammy, Chairman of African Tourism Board Cuthbert Ncube, former tourism minister of Zimbabwe Dr Walter Mezembe, former general secretary of World Tourism Board Dr Taleb Rifai, Kenya&rsquo;s tourism secretary Najib Balla and Jamaica&rsquo;s Tourism Minister Edmund Barlett. </span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;">After receiving the award, Joshi thanked the World Tourism Network for recognizing his contributions to the development and revival of the tourism sector.</span></span></span></span></p>

<p>&nbsp;</p>
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			'created' => '2020-11-11',
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			'description' => '',
			'sortorder' => '12413',
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			'article_date' => '2020-11-11 14:11:49',
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	(int) 1 => array(
		'Article' => array(
			'id' => '12666',
			'article_category_id' => '1',
			'title' => 'Government’s Decision to Waive Tax on Import of Books gets Mixed Reaction',
			'sub_title' => '',
			'summary' => 'November 11: The local entrepreneurs of Nepal have opposed the government’s decision to waive 10 percent tax on import of books from abroad. ',
			'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 11: The local entrepreneurs of Nepal have opposed the government&rsquo;s decision to waive 10 percent tax on import of books from abroad. They say that the government&rsquo;s decision to remove the tax imposed on books but to give continuity to tax on import of paper would land the country&rsquo;s industries in trouble.</span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;">Former Finance Minister Yuba Raj Khatiwada had stood in favour of the tax on import of books despite criticism from various quarters. However, the Council of Ministers on Monday decided to lift the additional 10 percent customs duty imposed on imported books. Prior to this, the government had been charging only 5 percent tax on such books.</span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;">The government enjoys the privilege to change the tax rate as per the Financial Act 2077. The Council of Minister used the&nbsp; same act to remove the tax upon the recommendation of Finance Minister Bishnu Poudel, informed Dr Prakash Shrestha, financial advisor to the finance minister. </span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;">Dr Shrestha argued that the decision will not impact the local industries of Nepal.</span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;">The import of books had declined after the then Finance Minister Yuba Raj Khatiwada imposed 10 percent excise duty on imported books about a year ago. Khatiwada took such decision after it was found that the Nepali publishers used to publish books abroad and then import the books to Nepal by evading 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:&quot;Arial Unicode MS&quot;">Newly-appointed Finance Minister Poudel revoked the decision taken by the former minister in a around month since his appointment.</span></span></span></span></p>

<p><span 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 has waived the tax on imported books, it continues to collect tax from books printed 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 books published inside the country have to incur 15 percent taxes on import of paper and an additional 13 percent value added tax. In addition to that, the government also charges tax for printing due to which the local entrepreneurs have to pay a total of 31 percent tax to the government.</span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;">Manohar Das Mool, one of the importers of paper, says it is unfair to waive the tax on import of books while charging excessive taxes on books published within the country.</span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;">However, book stores and stationery shops have welcomed the decision of the government to remove the tax on imported books.</span></span></span></span></p>

<p>&nbsp;</p>
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			'description' => '',
			'sortorder' => '12412',
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	(int) 2 => array(
		'Article' => array(
			'id' => '12664',
			'article_category_id' => '1',
			'title' => 'Commercial Banks to be Closed for 3 Days during Tihar',
			'sub_title' => '',
			'summary' => 'November 11: All the branches of commercial banks will be closed for three days during the upcoming Tihar festival.',
			'content' => '<p><span style="font-size:12pt"><span style="font-family:Cambria"><span style="font-size:14.0pt"><span style="font-family:Arial">November 11: All the branches of commercial banks will be closed for three days during the upcoming Tihar festival.</span></span></span></span></p>

<p><span style="font-size:12pt"><span style="font-family:Cambria"><span style="font-size:14.0pt"><span style="font-family:Arial">The Nepal Bankers Association said in a statement that all the branches of commercial banks will be closed for three days from November 14 to 16. </span></span></span></span></p>

<p><span style="font-size:12pt"><span style="font-family:Cambria"><span style="font-size:14.0pt"><span style="font-family:Arial">The association decided to close the branch offices during the festive season in view of the increasing number of coronavirus cases among bank employees. </span></span></span></span></p>

<p><span style="font-size:12pt"><span style="font-family:Cambria"><span style="font-size:14.0pt"><span style="font-family:Arial">So far, more than 6000 employees of different banks have been infected with coronavirus, the bankers&rsquo; association said.</span></span></span></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 association informed that digital banking services will remain operational during the festive season and has urged everyone to use these online services to minimize the risk of virus transmission. </span></span></span></span></p>

<p>&nbsp;</p>

<p><span style="font-size:12pt"><span style="font-family:Cambria"><span style="font-size:14.0pt"><span style="font-family:Arial">Earlier, the banks had been providing 365 days a year service to their customers including in festivals like Dashain and Tihar through limited branches. </span></span></span></span></p>

<p><span style="font-size:12pt"><span style="font-family:Cambria"><span style="font-size:14.0pt"><span style="font-family:Arial">This year, however, the banks have chosen to remain closed during the festive season. </span></span></span></span></p>

<p>&nbsp;</p>

<p>&nbsp;</p>
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	(int) 3 => array(
		'Article' => array(
			'id' => '12663',
			'article_category_id' => '1',
			'title' => 'Finance Ministry’s Plan to Draft Integrated Law Suffers a Setback',
			'sub_title' => '',
			'summary' => 'November 10: The government’s plan to introduce an integrate law to regulate various organisations has been halted.',
			'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 10: The government&rsquo;s plan to introduce an integrate law to regulate various organisations has been halted.</span></span></span></span></p>

<p><span 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 Ministry of Finance had prepared a draft of the law six months ago and presented it to the Ministry of Law for suggestions. But the file is gathering dust at the ministry as the government has failed to justify the need for such law.</span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;">Altogether 37 corporations that are in existence are being operated&nbsp; under the Companies Act, Special Act, Communication Act and Corporations Act.</span></span></span></span></p>

<p><span 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 drafting of the law has not been able to move ahead because the finance ministry is not clear about how to regulate the organisations that different in nature.</span></span></span></span></p>

<p><span 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 a high-ranking government official, the finance ministry had sought suggestions from the law ministry regarding the regulation of various organisations by forming a separate board.</span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;">&ldquo;What will happen to the existing laws? How can we bring all the organisations under the integrated law? We asked these questions to the finance ministry repeatedly but couldn&rsquo;t get a satisfactory answer,&rdquo; said an official at the law ministry.</span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;">The finance ministry is discussing on possible ways to move the drafting process ahead after the law ministry returns the file.</span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;">Joint secretary at the finance ministry Jhakka Prasad Acharya says they will remove the contradictory provisions in law and present the draft again to the law ministry.</span></span></span></span></p>

<p>&nbsp;</p>
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	(int) 4 => array(
		'Article' => array(
			'id' => '12662',
			'article_category_id' => '1',
			'title' => 'Nepal’s Foreign Trade Returning to Normalcy',
			'sub_title' => '',
			'summary' => 'November 10: Nepal’s foreign trade, which was badly affected by coronavirus and the subsequent lockdown imposed by the government, is returning back to normalcy. ',
			'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 10: Nepal&rsquo;s foreign trade, which was badly affected by coronavirus and the subsequent lockdown imposed by the government, is returning back to normalcy. The volume of import and export of goods through Birgunj Customs &ndash; the main transit point of the country &ndash; have started returning to pre-lockdown condition, according to the customs 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:&quot;Arial Unicode MS&quot;">Nepal&rsquo;s foreign trade slumped to a great extent due to the lockdown imposed on March 24 till July 20. It was further worsened by the two-month long prohibitory order issued after the government lifted the lockdown.</span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;">Although the government had prioritized import and export of goods and transportation as essential services, this sector couldn&rsquo;t remain unaffected by the impacts of lockdown.</span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;">Foreign trade reduced greatly due to the decline in market, demand and production. The country&rsquo;s foreign trade stated returning back to previous situation after the prohibitory orders were lifted on September 17. </span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;">Trade has increased gradually since then, according to customs officials at Birgunj Customs Office. </span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;">The volume of import from this customs point clearly indicates that the trade has improved since the start of the second quarter of current fiscal year.</span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;">Nepal Intermodal Transport Development Committee (NITDC), the operator of the Birgunj-based Integrated Check Post (ICP), informed that around 500 to 700 cargo vehicles have been entering Nepal through the check point on a daily basis.</span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;">Chief of NITDC Kamal Gyawali said that the number of vehicles entering Nepal through the check point is almost similar to those during the normal days. He said that only around 100 to 150 cargo vehicles used to enter Nepal during the lockdown period.</span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;">The ICP is facing parking problem due to the increase in number of vehicles entering the country. The ICP has a parking lot with capacity to accommodate 250 to 300 vehicles. Additional vehicles are forced to park on roadside.</span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;">Gyawali said that they will prepare an additional parking lot within one and a half months. He added that they have already added a new billing counter considering the rise in flow of vehicles.</span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;">Customs Officer Jagdish Purbe says that the number of vehicles entering Nepal through the Birgunj Dry Port has also increased.</span></span></span></span></p>

<p><span 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;Customs clearance of vehicles from the dry port has returned to normal situation in the last few days,&rdquo; said Purbe, adding, &ldquo;Around 300 to 350 containers are cleared by the dry port every day.&rdquo;</span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;">During the lockdown period, only around 100 containers used to arrive at the dry port every day.</span></span></span></span></p>

<p><span 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;Goods intended for the festive season have started arriving after the government lifted prohibitory order. It is clearly evident at the customs point,&rdquo; said Rajesh Kyal, a local businessman.</span></span></span></span></p>

<p>&nbsp;</p>
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	(int) 5 => array(
		'Article' => array(
			'id' => '12661',
			'article_category_id' => '1',
			'title' => 'Demand for Medicines Increases',
			'sub_title' => '',
			'summary' => 'November 10: The demand for medicines which had declined after the government imposed lockdown in March has once again increased.',
			'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 10: The demand for medicines which had declined after the government imposed lockdown in March has once again increased.</span></span></span></span></p>

<p><span 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 demand for medicines took a free fall after the government imposed lockdown on March 24. The supply of medicines was also affected after India and China banned the export of certain drugs.</span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;">However, drug manufacturers and dealers say that the sale of medicines has increased after the government lifted lockdown in July. The demand once again plunged after the government issued prohibitory orders a month later. </span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;">Drug manufacturers reduced their production due to the low demand for medicines back then.</span></span></span></span></p>

<p><span 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 demand for all other medicines except those for emergency and chronic illness was almost zero. The drug manufacturers of Nepal lowered their production by almost 70 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;">The demand for medicines gradually increased after the government lifted the prohibitory orders in the second week of September. The drug manufacturers have since then imported a record high amount of raw materials required for production of medicines.</span></span></span></span></p>

<p><span 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 of Customs, raw materials worth Rs 10.5 billion and medicines worth Rs 18.83 billion were imported to Nepal in June/July. The import of medicines declined in July/August but again increased in August/September, according to the data kept by the department.</span></span></span></span></p>

<p><span 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 Narayan Bahadur Chhetri, president of the Association of Pharmaceutical Producers of Nepal, people were afraid to visit hospitals during the lockdown period which led to the decline in sale of medicines. However, the sale of medicines increased after people overcame their fears and started visiting hospitals.</span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;">However, Chhetri argues that the data of the Department of Customs show an increase in import of sanitizers, masks and other health equipment but not medicines.</span></span></span></span></p>

<p><span 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 said that although there is more demand for medicines as compared to the lockdown period, the demand is yet to return to the previous level.</span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times">&nbsp;</span></span></p>

<p>&nbsp;</p>
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	(int) 6 => array(
		'Article' => array(
			'id' => '12660',
			'article_category_id' => '1',
			'title' => '52 Projects backed by Foreign Investors Registered during Lockdown',
			'sub_title' => '',
			'summary' => 'November 10: The registration of projects under foreign investment continued even during the lockdown period. ',
			'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 10: The registration of projects under foreign investment continued even during the lockdown period. </span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;">A total of 52 projects with investment from five different nations were registered at the Department of Industry through the local agents between March 24 to July 20, when the government had imposed a nation-wide lockdown.</span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;">However, the number of projects registered during the review period was comparatively less than that registered in 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;">According to the department, investors from China, India, Singapore, Malaysia, and the Netherlands had registered the projects worth Rs 8.37 billion during the lockdown period.</span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;">Information Officer of the department Binod Khadgi informed New Business Age that the department was open and the employees worked in different shifts during the lockdown period. According to him, the foreign investors did not visit Nepal in person but registered the projects through their local agents.</span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;">&ldquo;Foreign companies can appoint attorney-in-fact or hand over the power of attorney to the local agents to register projects in Nepal,&rdquo; said Khadgi.</span></span></span></span></p>

<p><span 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, a considerable number of projects with Chinese investment were registered in Nepal.</span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;">Among the 52 projects registered during lockdown, 45 were backed by Chinese investors. Most of the projects in&nbsp; which the Chinese investors were interested in were related to the service sector and tourism industry followed by information technology and production sector.</span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;">The projects with Chinese investors alone are worth Rs 7.53 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;">Indian investors ranked second among foreign investors registering their projects in Nepal during lockdown. They were also interested in the service sector and tourism. The Indian projects are worth Rs 707.5 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;">Investors from Malaysia and Singapore have registered one project each in tourism and service sectors while the Netherlands has registered two projects.</span></span></span></span></p>

<p><span 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 corresponding period of last fiscal year, a total of 138 projects with investment from 18 different countries were registered in Nepal.</span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;">The investors were from China, India, Malaysia, Singapore, the Netherlands, Bangladesh, Australia, Myanmar, Germany, Japan, South Korea, Turkey, the UK, the USA, South Africa among others. The investment commitment for the projects was worth Rs 19.36 billion back then.</span></span></span></span></p>

<p>&nbsp;</p>

<p>&nbsp;</p>
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			'description' => '',
			'sortorder' => '12407',
			'image' => '20201110114423_1604966097.Clipboard07.jpg',
			'article_date' => '2020-11-10 11:43:45',
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	(int) 7 => array(
		'Article' => array(
			'id' => '12659',
			'article_category_id' => '1',
			'title' => 'Government Preparing to Sign Agreement with UK to End Double Taxation ',
			'sub_title' => '',
			'summary' => 'November 9: The government has started homework to sign an agreement with the UK to end double taxation. ',
			'content' => '<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Devanagari Sangam MN&quot;">November 9: </span></span><span style="font-size:14.0pt"><span style="font-family:&quot;Bangla MN&quot;">The government has started homework to sign an agreement with the UK to end double taxation. According to the Ministry of Finance, the government is preparing to sign the agreement to attract investors by ending the compulsion for them to pay the same tax twice.</span></span></span></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;">Due to lack of an agreement with Britain to end double taxation, businessmen are forced to pay income tax for their annual transactions in both countries. This has reportedly discouraged foreign investment in Nepal.</span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Bangla MN&quot;">According to the ministry, the Government of Nepal has already exchanged letters with the UK government for ending double taxation between the two 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;">Some issues are yet to be sorted out and they are close to a final deal, officials privy to the matter informed New Business Age.</span></span></span></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;">Revenue Secretary Ram Sharan Pudasaini said that the two countries will sign the agreement soon.</span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Bangla MN&quot;">According to him, there is a high possibility of massive investment from Britain once the agreement is signed. Pudasaini said that Nepal will also sign agreements to end double taxation with other countries that are likely to invest in Nepal.</span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Bangla MN&quot;">The Inland Revenue Department said that the government is also preparing to sign similar agreements with Malaysia, Singapore, USA, Japan, Canada, Brazil and Oman.</span></span></span></span></p>

<p>&nbsp;</p>
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	(int) 8 => array(
		'Article' => array(
			'id' => '12658',
			'article_category_id' => '1',
			'title' => '‘Government’s Apathy Results in Shrinking Jute Farming’',
			'sub_title' => '',
			'summary' => 'November 9: Jute farming has been shrinking because the government has not paid proper attention to promote jute farming in the country. ',
			'content' => '<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;">November 9: Jute farming has been shrinking because the government has not paid proper attention to promote jute farming in the country. </span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;">As a result of decline in jute farming, the import of jute has been increasing. </span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;">The government is planning to promote 15 varieties of crop under the Prime Minister&rsquo;s Agriculture Modernization Project. Farmers will be provided grants on fertilizers, seeds, equipment and technology with the objective of increasing production. However, jute farming which is basically done in Jhapa, Morang and Sunsari does not fall under the 15 different crop.</span></span></span></span></p>

<p><span 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 provincial government had allocated budget for two years to operate blocks for jute farming but that has been removed from the annual budget 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;">Nepal&rsquo;s dependency on imported jute is growing because both the provincial and the federal governments have not prioritized jute farming, which was once a major cash crop of Nepal.</span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;">Two decades ago, jute farming was done on 56,000 hectares of land but that has now shrunk to just 11,000 hectares 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;">Earlier, Nepal used to produce 80,000 metric tons of jute within the country while now the production has declined to 20,000 metric tons.</span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;">Five jute industries along the Sunsari-Morang Industrial Corridor have been importing raw jute from India following the decline in production within Nepal.</span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;">Nepal Jute, Biratnagar Jute Mill, CM Jute, Guheshwari Turbine, Pathibhara Jute and Nikki Jute Mill are among the six jute industries that have shut down in recent days. </span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;">Other jute mills like Ahiranta, Raghupati, Baba,&nbsp; Swastik and Chandra Shiva Jute Mill are still operational. The jute industries give direct employment to 15,000 people.</span></span></span></span></p>

<p><span 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 six jute mills were forced to shut down within a decade because they had to import raw jute from India and Bangladesh and sell the refined products to the same countries at a competitive price.</span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;">Of late, the ailing jute industry has been badly affected by the impact of 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:&quot;Arial Unicode MS&quot;">Chairman of Nepal Jute Mills Association Raj Kumar Golchha says that the production of unrefined jute in Nepal has been declining because the government has not brought any programmes to promote jute farming. This has also led to Nepal&rsquo;s dependency on India for jute, 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;">As a result, Nepali jute industries are on the verge of collapse.</span></span></span></span></p>

<p>&nbsp;</p>
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	(int) 9 => array(
		'Article' => array(
			'id' => '12657',
			'article_category_id' => '1',
			'title' => 'Prices of Consumable Items Skyrocket After Dashain',
			'sub_title' => '',
			'summary' => 'November 9: The prices of food items have skyrocketed after the end of Dashain. ',
			'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 9: The prices of food items have skyrocketed after the end of Dashain. The sudden price hike has occurred at a time when the country is preparing to celebrate the festival of Tihar. It has been reported that the prices of food items have increased by up to 25 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;">According to the Retail Business Association of Nepal, the prices of lentil, edible oil, sugar and pulses have increased recently. </span></span></span></span></p>

<p><span 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 retail price of beans has increased from Rs 120 to Rs 150 per kg after Dashain, which is a 25 percent hike. Likewise, the price of grams has increased by 14 percent from Rs 110 to Rs 125 per kg.</span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;">Likewise, the price of green peas has increased by Rs 20 per kg from Rs 115 to Rs 135. Sugar, which used to cost Rs 80 per kg before Dashain, now costs Rs 90 per kg.</span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;">The price of sunflower oil has increased by 9 percent from Rs 170 per litre to Rs 185 per litre. Likewise, mustard oil price has shot up by 13 percent from Rs 230 per litre to Rs 260 per litre while the price of soybean oil has increased by 14 percent from Rs 150 per litre to Rs 170 per litre.</span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;">Local businessmen say that the price of food items generally go up during festivals like Dashain, Tihar and Chhath because there&nbsp; is high demand&nbsp; during the festive season. However, they admit that there hasn&rsquo;t been any significant rise in demand at the moment and the supply chain also remains smooth. In this context, the price hike in the country is a result of the impact of international market, says Subodh Kumar Gupta, chairman of Association of Nepalese Pulses, Rice and Oil Industry. </span></span></span></span></p>

<p><span 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 him, Nepal imports lentil, pulses and edible oil from countries like Australia, Canada, Malaysia and India. He argues that the prices of food items in those countries itself have increased, resulting in a price hike in Nepal.</span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;">However, retailers have been accusing the wholesalers of fixing the prices arbitrarily.</span></span></span></span></p>

<p>&nbsp;</p>
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			'keywords' => '',
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			'sortorder' => '12404',
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	(int) 10 => array(
		'Article' => array(
			'id' => '12656',
			'article_category_id' => '1',
			'title' => 'ICP Infrastructure Inadequate to Meet its Target',
			'sub_title' => '',
			'summary' => 'November 9: The infrastructure of the Integrated Check Post (ICP), which was conceptualized for managing the import and export from Birgunj customs through a single point, has become inadequate to meet its objectives.',
			'content' => '<p><span style="font-family:Arial,Helvetica,sans-serif"><span style="font-size:18px">November 9: The infrastructure of the Integrated Check Post (ICP), which was conceptualized for managing the import and export from Birgunj customs through a single point, has become inadequate to meet its objectives. The infrastructure of ICP has become insufficient as the import and export through Inarwa checkpoint of Birgunj have been diverted to the ICP. </span></span></p>

<p><span style="font-family:Arial,Helvetica,sans-serif"><span style="font-size:18px">The government had planned to merge the Birgunj Dry Port with the ICP by expanding the latter&rsquo;s infrastructure. The plan to acquire 63 bighas of land between ICP and the dry port has been awaiting the decision of the Council of Ministers since five years. </span></span></p>

<p><span style="font-family:Arial,Helvetica,sans-serif"><span style="font-size:18px">The land acquisition process has not been able to progress as the government has not taken the final decision to acquire the land even after fixing the compensation amount. </span></span></p>

<p><span style="font-family:Arial,Helvetica,sans-serif"><span style="font-size:18px">Although some raw materials of cement and iron industries and petroleum products enter through the Inarwa customs, most of the imports and exports take through the ICP. However, the government&#39;s decision to merge the dry port with the ICP has not been implemented yet. </span></span></p>

<p><span style="font-family:Arial,Helvetica,sans-serif"><span style="font-size:18px">Ashok Temani, chairman of the Road Transport and Transit Committee of the Federation of Nepalese Chambers of Commerce and Industry (FNCCI), says that the existing infrastructures of the ICP have become insufficient within three years of its operation.</span></span></p>

<p><span style="font-family:Arial,Helvetica,sans-serif"><span style="font-size:18px">&nbsp;&quot;We have been saying that the structure of the ICP is not practical. However, the government did not listen to the concerned parties at that time. Now, the ICP has become chaotic without being able to operate in full capacity,&rdquo; said Temani. </span></span></p>

<p><span style="font-family:Arial,Helvetica,sans-serif"><span style="font-size:18px">The importer says that the ICP lacks essential infrastructure including parking lot, warehouse and shed. </span></span></p>

<p><span style="font-family:Arial,Helvetica,sans-serif"><span style="font-size:18px">&ldquo;If for any reason the inspection of goods gets delayed, the importers are forced to pay for the detention of vehicles,&rdquo; said Ashok Kumar Baidya, vice-president of Province 2 chapter of FNCCI.</span></span></p>

<p><span style="font-family:Arial,Helvetica,sans-serif"><span style="font-size:18px">Customs officials say that the infrastructure of the ICP has become inadequate after the import and export of goods from Inarwa were channelized to the ICP.</span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;">&ldquo;The ICP&rsquo;s infrastructure has become inadequate to deal with all the goods because it has been handling the works of two customs offices,&rdquo; said a customs official requesting anonymity.</span></span></span></span></p>

<p><span 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 ICP was built with Indian assistance and is spread across 116 bigha land toward the Nepali side and covers 100 bigha of land on the Indian soil. Although both sides of the ICP have similar infrastructure, the Nepali side seems to be congested, says Temani.</span></span></span></span></p>

<p><span 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;Since India exports more goods, it doesn&rsquo;t require as much parking lots and warehouse as we do,&rdquo; said Temani.</span></span></span></span></p>

<p><span 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 suggests that the government should immediately acquire the land in between the ICP and the dry port and develop facilities such as warehouses and parking lots.</span></span></span></span></p>

<p><span 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;If the government is not capable to do so, it can hand over the responsibility to the private sector,&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;">Other importers say that the import has been increasing every year and therefore urged the government not to neglect the issue.</span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;">Another importer Suresh Rungata says they have been forced to station their vehicles on the road due to lack of adequate infrastructure within the ICP. He complained that the ICP has been charging parking fare even for vehicles that are parked on the road.</span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;">The government has handed the responsibility of operating the ICP to Nepal Intermodal Transportation Development Committee.</span></span></span></span></p>

<p>&nbsp;</p>
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	(int) 11 => array(
		'Article' => array(
			'id' => '12655',
			'article_category_id' => '1',
			'title' => 'CCMC Recommends Ending Chartered Flights for Rescue Operation ',
			'sub_title' => '',
			'summary' => 'November 9: The Covid-19 Crisis Management Centre (CCMC) has recommended the government to halt chartered flights to rescue Nepali citizens stranded abroad due to the coronavirus pandemic.',
			'content' => '<p><span style="font-size:12pt"><span style="font-family:Cambria"><span style="font-size:14.0pt"><span style="font-family:Arial">November 9: The Covid-19 Crisis Management Centre (CCMC) has recommended the government to halt chartered flights to rescue Nepali citizens stranded abroad due to the coronavirus pandemic.</span></span></span></span></p>

<p><span style="font-size:12pt"><span style="font-family:Cambria"><span style="font-size:14.0pt"><span style="font-family:Arial">The CCMC took such decision during a meeting held on Sunday (November 8), arguing that most of the stranded Nepalis have been already rescued from foreign countries. </span></span></span></span></p>

<p><span style="font-size:12pt"><span style="font-family:Cambria"><span style="font-size:14.0pt"><span style="font-family:Arial">CCMC decided to recommend the government to halt the rescue flights as all diplomatic missions of Nepal have reported rescuing almost all stranded citizens.</span></span></span></span></p>

<p><span style="font-size:12pt"><span style="font-family:Cambria"><span style="font-size:14.0pt"><span style="font-family:Arial">If there is need to rescue any citizens then the government can provide help through regular flights instead of chartered flights, CCMC said in the recommendation.</span></span></span></span></p>

<p>&nbsp;</p>

<p><span style="font-size:12pt"><span style="font-family:Cambria"><span style="font-size:14.0pt"><span style="font-family:Arial">Secretary at the Office of the Prime Minister and Council of Ministers Mahendra Prasad Guragain informed that the CCMC has &nbsp;also suggested the government to reopen cable cars, jungle safari and adventure tourism in the country. </span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:Arial">The CCMC has also requested the government to set up health units at local levels for consultations considering the increase in number of people staying in home isolation.</span></span></span></span></p>

<p><span style="font-size:12pt"><span style="font-family:Cambria"><span style="font-size:14.0pt"><span style="font-family:Arial">According to the CCMC, the government has so far rescued a total of 136,216 citizens stranded in 60 different countries since the pandemic started spreading across the globe. </span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;">Altogether 40,230 Nepali citizens were rescued from Dubai which is the maximum number of people brought home from any particular country. Likewise, the lease number of Nepali rescued from abroad was from Somalia, where only one Nepali citizen was stranded.</span></span></span></span></p>

<p><span 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, hundreds of thousands of Nepalis returned home during the pandemic from India through land route but only 89 were airlifted from the neighbouring country.</span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;">A total of 634 Nepali citizens stranded in China were rescued during the crisis.</span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;">A total of 930 flights were conducted to airlift the stranded citizens. Among those flights, 454 were regular flights while the remaining were chartered flights.</span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;">The government had decided to rescue its stranded citizens five months ago although it had imposed lockdown seven months ago. The citizens were rescued on priority basis, taking into consideration the age, gender and other factors such as health.</span></span></span></span></p>

<p>&nbsp;</p>
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	(int) 12 => array(
		'Article' => array(
			'id' => '12654',
			'article_category_id' => '266',
			'title' => 'Radisson Hotel Reopens Rooftop Restaurant',
			'sub_title' => '',
			'summary' => 'November 8: Radisson Hotel Kathmandu has announced the reopening of its rooftop restaurant “Terrace Garden”. ',
			'content' => '<p><span style="font-size:12pt"><span style="font-family:Cambria"><span style="font-size:15.0pt"><span style="font-family:Arial">November 8: Radisson Hotel Kathmandu has announced the reopening of its rooftop restaurant &ldquo;Terrace Garden&rdquo;. </span></span></span></span></p>

<p><span style="font-size:12pt"><span style="font-family:Cambria"><span style="font-size:15.0pt"><span style="font-family:Arial">The hotel made the announcement in a recent statement.</span></span></span></span></p>

<p><span style="font-size:12pt"><span style="font-family:Cambria"><span style="font-size:15.0pt"><span style="font-family:Arial">According to the hotel, the &ldquo;Terrace Garden&rdquo; offers sumptuous dishes and spectacular outdoor view where visitors can indulge in light dishes, snacks, and drinks while surrounded by the lush rooftop garden.</span></span></span></span></p>

<p><span style="font-size:12pt"><span style="font-family:Cambria"><span style="font-size:15.0pt"><span style="font-family:Arial">The hotel has invited guests to join them for the &ldquo;safest&rdquo; dine-in experience.</span></span></span></span></p>

<p><span style="font-size:12pt"><span style="font-family:Cambria"><span style="font-size:15.0pt"><span style="font-family:Arial">The Terrace Garden will be open from 12 in the afternoon till 8pm, the statement added.</span></span></span></span></p>

<p><span style="font-size:12pt"><span style="font-family:Cambria"> </span></span></p>

<p>&nbsp;</p>
',
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	(int) 13 => array(
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			'id' => '12653',
			'article_category_id' => '1',
			'title' => 'NRA Fixes Final Deadline for Grant Distribution',
			'sub_title' => '',
			'summary' => 'November 8: The National Reconstruction Authority (NRA) has fixed the final date for people affected by the 2015 earthquake to receive housing grant. ',
			'content' => '<p><span style="font-size:12pt"><span style="font-family:Cambria"><span style="font-size:14.0pt"><span style="font-family:Arial">November 8: The National Reconstruction Authority (NRA) has fixed the final date for people affected by the 2015 earthquake to receive housing grant. The NRA has fixed the final deadline for the beneficiaries to receive all three installments of private housing grant as its five-year mandate to complete the reconstruction task is nearing its end.</span></span></span></span></p>

<p><span style="font-size:12pt"><span style="font-family:Cambria"><span style="font-size:14.0pt"><span style="font-family:Arial">According to the new deadline, the beneficiaries who have signed agreement for reconstruction and retrofitting will have to collect the first installment by December 30. </span></span></span></span></p>

<p><span style="font-size:12pt"><span style="font-family:Cambria"><span style="font-size:14.0pt"><span style="font-family:Arial">Similarly, all the beneficiaries who have already acquired the first installment and have started reconstruction work will have to apply for the certification at the concerned local level by mid-January (January 12) to get the second installment. </span></span></span></span></p>

<p><span style="font-size:12pt"><span style="font-family:Cambria"><span style="font-size:14.0pt"><span style="font-family:Arial">The final installment can be claimed after providing the certification to the local level by mid-May next year (May 14). </span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:Arial">Deputy Spokesperson of NRA, Manohar Ghimire said that this will be the final deadline as the authority&#39;s term will end by that time.</span></span></span></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 NRA has also requested all eligible beneficiaries who want to demolish their old house and re-build a new house to apply to the concerned local units as soon as possible.</span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times">&nbsp;</span></span></p>

<p>&nbsp;</p>
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			'id' => '12652',
			'article_category_id' => '1',
			'title' => 'Foreign Countries Demand  100,000 Nepali workers ',
			'sub_title' => '',
			'summary' => 'November 8: Gulf countries such as the UAE and Saudi Arabia that are considered attractive for foreign employment have demanded 100,000 labourers. ',
			'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 8: Gulf countries such as the UAE and Saudi Arabia that are considered attractive for foreign employment have demanded 100,000 labourers. </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;">Despite the demand for a large number of workers from those countries at a time when Nepal is facing rising unemployment due to COVID-19, the concerned authorities are yet to attest the demand letter. </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;">Due to a large number of migrant workers returning home from Gulf countries amid COVID-19 pandemic, there is a huge demand for workers in those countries. </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 manpower agents, human resource companies have been bankrupt for some time due to the coronavirus crisis, but as the situation has returned to normal, there is a demand for workers from those countries, especially in the service sector, such as hospitals, hotels, super stores and construction. </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 demand of workers in Saudi Arabia alone is around 50,000. Likewise, the UAE, Oman, Bahrain and other countries have also asked to send workers to their countries. However, Bishnu Gaire, president of Nepal Association of Foreign Employment Agencies (NAFEA), said that the problem has arisen because Nepal&rsquo;s embassies and foreign missions there have not verified the demand letter. </span></span></span></span></p>

<p><span style="font-size:11pt"><span style="font-family:Calibri"><span style="font-size:14.0pt"><span style="font-family:&quot;Times New Roman&quot;">He said that even though the government of Nepal lifted the ban on foreign employment in August, the diplomatic missions did not certify the demand letter citing coronavirus as the main reason. </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;">An official at Nepal&rsquo;s embassy in Saudi Arabia admitted that they have not been able to focus on certifying the demand letter as they were struggling to manage workers who have lost employment due to coronavirus. </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;">&quot;There is a lot of work to be done with limited manpower. There is a need to verify a large number of demand forms. Due to lack of human resources, it is difficult to verify the demand immediately,&quot; a senior official at the Nepalese Embassy in Abu Dhabi told New Business Age. </span></span></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