Traders in Dilemma Regarding Import of Readymade Garments for Festive Season

Aug 24, 2020 0 2 minutes 20 seconds to read

August 24: Traders are in dilemma on whether or not to import readymade garments for the upcoming Dashain and Tihar…

Indian Workers Earn More in Nepal than Nepali Workers in India

Aug 24, 2020 0 3 minutes 43 seconds to read

August 24: There is a general understanding that Nepali migrant workers in India send large amount of money back home every…

Government to Allow Air Service from September 1

Aug 23, 2020 0 2 minutes 40 seconds to read

August 23: The government has agreed to allow not more than 500 flights a day starting from September 1.…

Shortage and Price Hike of Sugar Likely during Upcoming Festive Season

Aug 23, 2020 0 1 minutes 53 seconds to read

August 23: With the festive season just around the cover, the market is likely to face shortage of sugar and a price…

Tender for Track Bed of East-West Electric Railway to Proceed Ahead

Aug 23, 2020 0 1 minutes 46 seconds to read

August 23: The Department of Railways has informed that the construction work of the track bed of the Kakadvitta-Inaruwa section of the East-West Electric Railway will not be halted.…

Lack of Coordination affects Daily Essential Services

Aug 23, 2020 0 1 minutes 56 seconds to read

August 23: Majority of daily essential businesses and services in the valley have been affected due to the lack of coordination among the government agencies during the prohibitory order imposed since Thursday.…

NRB tells Remittance Companies to Open Counters despite Prohibitory Order

Aug 23, 2020 0 1 minutes 56 seconds to read

August 23: Nepal Rastra Bank (NRB) has directed remittance companies to provide their service despite the prohibitory order of the government.…

Electricity Tariff should be Collected by Ascertaining Amount of Electricity Consumption: CIAA

Aug 21, 2020 0 2 minutes 18 seconds to read

August 21: The Commission for the Investigation of Abuse of Authority (CIAA) has said that the electricity tariff should be collected by ensuring the quantity of electricity consumed by the industries supplied through dedicated feeders and trunk lines before the end of load…

Bank Account Mandatory for Receiving Social Security Allowance

Aug 21, 2020 0 2 minutes 3 seconds to read

August 21: The government has made it mandatory for people receiving social security allowance to open bank accounts.…

Dhaubadhi Mine Suitable for Commercial Production of Iron

Aug 21, 2020 0 3 minutes 5 seconds to read

August 21: Dhaubadhi Iron Company Limited has claimed that the iron extracted from Nawalpur-based Dhaubadhi mine is viable for commercial…

Government to Resume Chartered Flights

Aug 21, 2020 0 2 minutes 13 seconds to read

August 21: The government has decided to resume chartered flights to airlift its citizens stranded abroad due to Covid-19…

NRB Preparing for Refinancing within 2 Months

Aug 21, 2020 0 5 minutes 53 seconds to read

August 21: Nepal Rastra Bank has notified businesses and industries that they will need to apply within 45 days to become a recipient of the refinancing facility, initiated to provide relief to the debtors affected by the coronavirus…

Nepali Importers Troubled by Additional Transportation Cost at ICP

Aug 20, 2020 0 1 minutes 41 seconds to read

August 20: Nepali importers have been burdened with additional transportation expenses at the Nepal-India Integrated Check Post (ICP) due to lack of their own warehouse at the newly built…

FNCCI Given 3 Options for Election

Aug 20, 2020 0 2 minutes 35 seconds to read

August 20: A committee formed by the Federation of Nepalese Chambers of Commerce and Industry (FNCCI) has recommended three modalities for the election of the umbrella organisations of business entrepreneurs and industrialists of Nepal.…

Government Data show Improvement in Revenue Collection

Aug 20, 2020 0 2 minutes 32 seconds to read

August 20: The government has made some progress in revenue collection, which was badly affected by the coronavirus pandemic since the last four…

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No Laughing Matter

The Sweet Rewards of Power

By Madan Lamsal

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NEPSE

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			'id' => '12366',
			'article_category_id' => '1',
			'title' => 'Traders in Dilemma Regarding Import of Readymade Garments for Festive Season',
			'sub_title' => '',
			'summary' => 'August 24: Traders are in dilemma on whether or not to import readymade garments for the upcoming Dashain and Tihar festivals.',
			'content' => '<p><span style="font-size:18px"><span style="font-family:Calibri"><span style="font-family:&quot;Times New Roman&quot;">August 24: Traders are in dilemma on whether or not to import readymade garments for the upcoming Dashain and Tihar festivals. They are unable to decide because of the negative impact of the four-month-long lockdown on the businesses and the recent prohibitory order to control coronavirus infection. </span></span></span></p>

<p><span style="font-size:18px"><span style="font-family:Calibri"><span style="font-family:&quot;Times New Roman&quot;">In the previous years, traders used to import readymade garments worth Rs 300 billion from China and India targeting the festivals. They used to start preparations from mid-July for this. However, industries, businesses and public life have been halted this year due to coronavirus, creating confusion among the traders. Due to this, they estimate that there may be shortage of readymade garments in the market during this festive season. </span></span></span></p>

<p><span style="font-size:18px"><span style="font-family:Calibri"><span style="font-family:&quot;Times New Roman&quot;">According to the &nbsp;treasurer of New Road-based National Trade Association, Ram Chandra Parajuli, who has been involved in Nepal-China trade for a long time, the confusion has been created as around 500 containers of garments imported for the summer season have been stopped at Kerung border for the last six months. </span></span></span></p>

<p><span style="font-size:18px"><span style="font-family:Calibri"><span style="font-family:&quot;Times New Roman&quot;">&ldquo;Traders have invested millions of rupees for importing clothes for summer but the containers are stuck at the border. It is still uncertain when will the products arrive in the country,&rdquo; said Parajuli, adding, &ldquo;On top of that, there is high probability that the products will be worn out. In such a scenario how will we import clothes for the upcoming festival?&rdquo; </span></span></span></p>

<p><span style="font-size:18px"><span style="font-family:Calibri"><span style="font-family:&quot;Times New Roman&quot;">The trade of shoes, slippers, and clothes increases by 40 percent during the festive season than other times. However, this year, the traders are confused due to the pandemic. </span></span></span></p>

<p><span style="font-size:18px"><span style="font-family:Calibri"><span style="font-family:&quot;Times New Roman&quot;">Dil Sundar Shrestha, chairman of the Trade Fair Committee of FNCCI, said that even if the garments are imported, only 20 percent business can be done. </span></span></span></p>

<p><span style="font-size:18px"><span style="font-family:Calibri"><span style="font-family:&quot;Times New Roman&quot;">He further claimed that the business of garments will not increase during the upcoming festivals as people have lost their jobs and their source of income has been cut off due to the pandemic. </span></span></span></p>

<p>&nbsp;</p>
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			'title' => 'Indian Workers Earn More in Nepal than Nepali Workers in India',
			'sub_title' => '',
			'summary' => 'August 24: There is a general understanding that Nepali migrant workers in India send large amount of money back home every year.',
			'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;">August 24: There is a general understanding that Nepali migrant workers in India send large amount of money back home every 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;">India has been a prime destination for Nepalese workers since a long time due to its close proximity, open border and similar culture. </span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;">In the mean time, Nepal is also a major labour destination for Indian workers. In fact, the salary that Indian labourers earn in Nepal and take back home is three times more than what the Nepali labourers earn in India.&nbsp; </span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;">According to the World Bank&rsquo;s Bilateral Remittance Matrix, Nepali workers in India had sent remittance worth Rs 102 billion in 2017 while the Indian workers sent home Rs 302 billion from Nepal in the same year. Nepal is one of the top ten destinations for India to earn remittance.</span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;">The remittance Nepal receives from Indian also includes the salary of 35,000 serving Gurkha soldiers and pensions of 180,000 retired soldiers, which amount to Rs 72.57 billion annually. If this amount is deducted from the total remittance, the amount sent by other Nepalis stands at around Rs 29 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;">Meanwhile, Nepal is a lucrative destination for Indian workers who are from the states that share border with Nepal. As the average income in Nepal is much better than that in India, the workers of India find the Nepali labour market quite attractive, according to the employers.</span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;">The number of Indian workers is quite considerable in the industrial corridor near the border areas. According to the Nepali industrialists, more than 1 million Indian workers are employed in Nepal. Lots of labourers from India are found working in brick kilns, jute mills and cement factories.</span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;">Besides industries, Indian workers are also employed by gold dealers of Nepal. According to the Federation of Nepal Gold and Silver Dealers Association, more than 75 percent of goldsmiths in Nepal are from India. They take home around Rs 20 billion each year, says Tej Ratna Shakya, former chairman of the federation. </span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;">Meanwhile, the government of Nepal does not have any data about the exact number of Indian migrant workers working in Nepal. As the Indians do not require work permit to work in Nepal, the government does not have the required data.</span></span></span></span></p>

<p><span 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;Although high ranking workers from India take work permit from the Government of Nepal to show the source of their income, there are only a handful of them. On the other hand, lots of Indians working at the lower level do not take any permission for work,&rdquo; says Sundar Shrestha, chief of the Birgunj office of Labour and Employment 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;">Government officials say it is not mandatory for Indian nationals to obtain work permit in Nepal as guaranteed by the &nbsp;Nepal-India Peace and Friendship Treaty 1950.</span></span></span></span></p>

<p>&nbsp;</p>

<p>&nbsp;</p>
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			'id' => '12364',
			'article_category_id' => '1',
			'title' => 'Government to Allow Air Service from September 1',
			'sub_title' => '',
			'summary' => 'August 23: The government has agreed to allow not more than 500 flights a day starting from September 1. ',
			'content' => '<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:Arial">August 23: The government has agreed to allow not more than 500 flights a day starting from September 1. </span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:Arial">The Council of Ministers has assigned the Ministry of Culture, Tourism and Civil Aviation to regulate flights amid risk of coronavirus pandemic.</span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:Arial">The cabinet has agreed to allow regular as well as chartered flights not exceeding 500 flights a day. However, international flights have been approved only for the countries where PCR tests are available. </span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:Arial">Nepali citizens stranded in Malaysia, the UAE (Dubai), South Korea, Thailand, Japan, China, Hong Kong, Australia, the USA, Canada and European countries will be allowed to return home through regular commercial flights once the restriction on air service comes to an end. </span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:Arial">However, people from countries where PRC tests are not available will have to return home through chartered flights under strict regulation.</span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:Arial">Government Spokesperson Dr Yuba Raj Khatiwada informed that the government will arrange chartered flights for the destinations where PCR tests are not available while the stranded Nepalis can return home upon the recommendation of the diplomatic missions of Nepal in the respective places.</span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:Arial">Those travelling to Nepal through regular flights will have to produce certificate of negative test for Covid-19. They will also have to fill up an online form available at the website of the Covid-19 Crisis Management&nbsp; Centre (CCMC) and print the barcode. Another precondition for the people coming to Nepal is that they will have to stay in hotel quarantine for seven days, for which they will have to show the hotel booking to the airport authorities. </span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:Arial">Afterwards, they will have to sign a written commitment to stay in home quarantine for 14 days. The local units will be responsible to monitor this.</span></span></span></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 travellers will have to pay the bill for booking hotel at the time of purchasing the air ticket. Only after fulfilling all the criteria, the passengers will be allowed to enter the country.</span></span></span></span></p>

<p>&nbsp;</p>

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

<p>&nbsp;</p>
',
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		'Article' => array(
			'id' => '12363',
			'article_category_id' => '1',
			'title' => 'Shortage and Price Hike of Sugar Likely during Upcoming Festive Season',
			'sub_title' => '',
			'summary' => 'August 23: With the festive season just around the cover, the market is likely to face shortage of sugar and a price hike.',
			'content' => '<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Bangla MN&quot;">August 23: With the festive season just around the cover, the market is likely to face shortage of sugar and a price hike.</span></span></span></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 domestic sugar industries have run out of stock while the government agencies responsible for the supply of sugar have given permission for limited amount of import this year. Because of these factors, the customers are likely to face shortage of sugar in the upcoming festivals of Dashain and Tihar.</span></span></span></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;">Usually, the demand for sugar during festive season is 70,000 metric tons. But the government this year has given permission to import only 30,000 metric tons of sugar. </span></span></span></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;">Salt Trading Corporation had sought permission for importing 50,000 metric tons of sugar considering the rise in demand during festive season.</span></span></span></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;">But it has been given permission to import 20,000 metric tons of sugar while the Food Management Company Limited has got permission to purchase 10,000 metric tons of sugar.</span></span></span></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;">Stakeholders say that failure to supply adequate amount of sugar as per the demand would result in price hike.</span></span></span></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;">Spokesperson of Salt Trading Corporation Kumar Rajbhandari says that the artificial shortage of sugar witnessed right now and the possible price hike could have been checked had the government given them permission to import 50,000 metric tons of sugar.</span></span></span></span></p>
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	(int) 4 => array(
		'Article' => array(
			'id' => '12362',
			'article_category_id' => '1',
			'title' => 'Tender for Track Bed of East-West Electric Railway to Proceed Ahead',
			'sub_title' => '',
			'summary' => 'August 23: The Department of Railways has informed that the construction work of the track bed of the Kakadvitta-Inaruwa section of the East-West Electric Railway will not be halted. ',
			'content' => '<p><span style="font-size:12pt"><span style="font-family:Cambria"><span style="font-size:14.0pt"><span style="font-family:Calibri">August 23: The Department of Railways has informed that the construction work of the track bed of the Kakadvitta-Inaruwa section of the East-West Electric Railway will not be halted. The project has courted controversy since the start of the tender process.</span></span></span></span></p>

<p><span style="font-size:12pt"><span style="font-family:Cambria"><span style="font-size:14.0pt"><span style="font-family:Calibri">Infrastructure experts have advised not to proceed with the project stating &nbsp;that basic preparations like land acquisition and site clearance have not been completed. However, the railway department informed that the project will move ahead regardless of any circumstances.</span></span></span></span></p>

<p><span style="font-size:12pt"><span style="font-family:Cambria"><span style="font-size:14.0pt"><span style="font-family:Calibri">Balaram Mishra, director general of the department, informed that no work would be stopped as the government, parliamentary committee and the high court have already ordered them to move ahead with the tender and other process of construction of the 106 km long track bed.</span></span></span></span></p>

<p><span style="font-size:12pt"><span style="font-family:Cambria"><span style="font-size:14.0pt"><span style="font-family:Calibri">&quot;The department has started the tender process following the government&rsquo;s approval,&quot; Mishra informed.</span></span></span></span></p>

<p><span style="font-size:12pt"><span style="font-family:Cambria"><span style="font-size:14.0pt"><span style="font-family:Calibri">He also claimed that there would be no problem in the construction of the section as the work was carried out after analyzing the legal issues and other basic aspects.</span></span></span></span></p>

<p><span style="font-size:12pt"><span style="font-family:Cambria"><span style="font-size:14.0pt"><span style="font-family:Calibri">The department, which had issued a tender of Rs 28 billion twice -- &nbsp;on June 28 and July 1 -- has now moved ahead with the tender evaluation following an interim order issued by the Patan High Court on August 10. The department has issued tenders for the section in 54 packages.</span></span></span></span></p>

<p>&nbsp;</p>
',
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	(int) 5 => array(
		'Article' => array(
			'id' => '12361',
			'article_category_id' => '1',
			'title' => 'Lack of Coordination affects Daily Essential Services ',
			'sub_title' => '',
			'summary' => 'August 23: Majority of daily essential businesses and services in the valley have been affected due to the lack of coordination among the government agencies during the prohibitory order imposed since Thursday. ',
			'content' => '<p><span style="font-size:11pt"><span style="font-family:Calibri"><span style="font-size:12.0pt"><span style="font-family:&quot;Times New Roman&quot;">August 23: Majority of daily essential businesses and services in the valley have been affected due to the lack of coordination among the government agencies during the prohibitory order imposed since Thursday. </span></span></span></span></p>

<p><span style="font-size:11pt"><span style="font-family:Calibri"><span style="font-size:12.0pt"><span style="font-family:&quot;Times New Roman&quot;">Although the District Administration Office has allowed opening food and other necessary consumer goods shop, the business of consumer goods such as groceries, dairy, and meat have been affected as the traders could not go to their shop due to police barricade. </span></span></span></span></p>

<p><span style="font-size:11pt"><span style="font-family:Calibri"><span style="font-size:12.0pt"><span style="font-family:&quot;Times New Roman&quot;">Traders whose shops are distant from their home, complain that the police do not allow them to go to their shops. </span></span></span></span></p>

<p><span style="font-size:11pt"><span style="font-family:Calibri"><span style="font-size:12.0pt"><span style="font-family:&quot;Times New Roman&quot;">Former president of Nepal Retailers Association Pabitra Bajracharya, who stays in New Road, was stopped by the police on the way to his shop at Shwoyambhu. He was not allowed to go to the shop although his customers kept calling him to buy groceries such as rice, lentils, water, salt, sugar and oil. </span></span></span></span></p>

<p><span style="font-size:11pt"><span style="font-family:Calibri"><span style="font-size:12.0pt"><span style="font-family:&quot;Times New Roman&quot;">His shop is closed since Thursday. &quot;I am just an example. There are many traders like me who are deprived of opening their shops due to police obstruction,&quot; he told New Business Age. </span></span></span></span></p>

<p><span style="font-size:11pt"><span style="font-family:Calibri"><span style="font-size:12.0pt"><span style="font-family:&quot;Times New Roman&quot;">Although the DAO has issued a notice that grocery shops are allowed to operate, there has been problem as the timeframe has not been specified. Therefore, the police themselves are in dilemma. In most of the places of Kathmandu, the police have allowed to open shops from 5am to 7am. </span></span></span></span></p>
',
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			'description' => '',
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	(int) 6 => array(
		'Article' => array(
			'id' => '12360',
			'article_category_id' => '1',
			'title' => 'NRB tells Remittance Companies to Open Counters despite Prohibitory Order',
			'sub_title' => '',
			'summary' => 'August 23: Nepal Rastra Bank (NRB) has directed remittance companies to provide their service despite the prohibitory order of the government. ',
			'content' => '<p><span style="font-size:12pt"><span style="font-family:Cambria"><span style="font-size:14.0pt"><span style="font-family:Arial">August 23: Nepal Rastra Bank (NRB) has directed remittance companies to provide their service despite the prohibitory order of the government. The central bank issued such order considering that many households in Nepal are dependent on remittance for their livelihood.</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">NRB in a circular issued to the remittance companies has instructed them to provide their service by adopting necessary safety precaution. </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 instruction comes after the local governments in the Kathmandu Valley and some other infected districts imposed prohibitory orders to contain the spread of the disease.</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 central bank clarified that such instruction was given so that the people dependent on remittance would not have to suffer during the current crisis. </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">&ldquo;We have ordered the remittance companies not to compromise on their service so that the families relying on remittance would not face any problem. The remittance companies will have to facilitate in availing the money sent by Nepali migrant workers from abroad,&rdquo; said an official at the Foreign Exchange Management Department of NRB.</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 remittance companies have been urged to coordinate with the local units to keep their counters open for a limited period with minimum number of staffers.</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 central bank has also instructed the remittance companies to coordinate with BFIs for availing foreign exchange facility and to make payment of remittance through banks if possible.</span></span></span></span></p>

<p>&nbsp;</p>

<p>&nbsp;</p>

<p>&nbsp;</p>

<p>&nbsp;</p>
',
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			'description' => '',
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	(int) 7 => array(
		'Article' => array(
			'id' => '12358',
			'article_category_id' => '1',
			'title' => 'Electricity Tariff should be Collected by Ascertaining Amount of Electricity Consumption: CIAA ',
			'sub_title' => '',
			'summary' => 'August 21: The Commission for the Investigation of Abuse of Authority (CIAA) has said that the electricity tariff should be collected by ensuring the quantity of electricity consumed by the industries supplied through dedicated feeders and trunk lines before the end of load shedding.',
			'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;">August 21: The Commission for the Investigation of Abuse of Authority (CIAA) has said that the electricity tariff should be collected by ensuring the quantity of electricity consumed by the industries supplied through dedicated feeders and trunk lines before the end of load shedding. The CIAA has suggested that the data of Time of Day (TOD) meter should be primary basis for this. </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;">Sending a three-point letter to the Ministry of Energy, the Electricity Regulatory Commission and the Nepal Electricity Authority regarding the dedicated and trunk line tariff dispute, the authority has suggested not to impose additional burden on the industrialists in the name of tariff. </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 industrialists approached the CIAA after the cabinet endorsed a report on the dedicated and trunk line submitted by a high level committee coordinated by Secretary at the Ministry of Energy, Dinesh Ghimire. The authority had sent letter to these bodies last week on the basis of the request by the industrialists. </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 the letter, the authority should determine the electricity tariff only after ascertaining whether the electricity has been used for dedicated feeders and trunk lines after the load shedding ended. </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 authority has suggested taking the decision of the Supreme Court in the case of Shivam Cement as precedence for other industries as well. </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 court has directed the government not to charge Shivam Cement any tariff for dedicated and trunk line from mid July 2015 to January 13, 2016. </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;">Load shedding in the industrial sector had come to an end on May 14, 2018. However, the NEA has been sending dedicated and trunk line electricity tariff bills to the industries even after that. Since then, the dispute has become more complicated. </span></span></span></span></p>

<p>&nbsp;</p>
',
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			'description' => '',
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	(int) 8 => array(
		'Article' => array(
			'id' => '12357',
			'article_category_id' => '1',
			'title' => 'Bank Account Mandatory for Receiving Social Security Allowance ',
			'sub_title' => '',
			'summary' => 'August 21: The government has made it mandatory for people receiving social security allowance to open bank accounts. ',
			'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;">August 21: The government has made it mandatory for people receiving social security allowance to open bank accounts. </span></span></span></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 Department of National ID and Civil Registration (DoNIDCR) has implemented this provision in line with the announcement made during the current fiscal year&rsquo;s budget, which mentions that all beneficiaries will have to open bank accounts from this year onward to receive the allowance.</span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:Arial">With this new provision, on the local units which do not have access to banking service will receive social security allowance in cash. All other local units will have to open bank accounts for the beneficiaries and deposit their allowance in bank.</span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:Arial">Senior citizens, single women, people from backward Dalit community, people from endangered groups, differently abled persons, widow among others have been receiving social security allowance ranging from Rs 400 to Rs 3000 per month. </span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:Arial">The government had proposed this concept five years ago but it not implemented all over the country. But the Director of DoNIDCR Shiva Raj Joshi says it has become mandatory in all local units except some exceptions from now onward.</span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:Arial">According to Joshi, the local units will not be allowed to hand over the allowance in cash anymore.</span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:Arial">So far, 137 local units have already started distributing social security allowance through the banking system.</span></span></span></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 department informed that altogether 3.2 million people receive social security allowance in Nepal.</span></span></span></span></p>

<p>&nbsp;</p>

<p>&nbsp;</p>
',
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			'created' => '2020-08-21',
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	(int) 9 => array(
		'Article' => array(
			'id' => '12356',
			'article_category_id' => '1',
			'title' => 'Dhaubadhi Mine Suitable for Commercial Production of Iron',
			'sub_title' => '',
			'summary' => 'August 21: Dhaubadhi Iron Company Limited has claimed that the iron extracted from Nawalpur-based Dhaubadhi mine is viable for commercial use.',
			'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;">August 21: Dhaubadhi Iron Company Limited has claimed that the iron extracted from Nawalpur-based Dhaubadhi mine is viable for commercial use.</span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;">Sources said that a study of samples from the mine has indicated the possibility of commercial production of iron from the mine in large scale. Concerned authorities had sent five tons of ore extracted from the mine for study in China last year. It has been learnt that the stakeholders in Nepal will receive the report from China within 20 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;">CEO of the company Krishna Dev Jha told New Business Age that they will now be able to extract iron from the mine for commercial production. He added that they will soon start necessary preparation for setting up the extraction technology, storage and certification works among others.</span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;">&ldquo;After going through the report, we can ascertain the quantity of per day extraction from the mine as well as investment requirement and cost estimates,&rdquo; said Jha.</span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;">The company has already initiated the process to select the consultant company for drilling the mine. </span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;">Jha said that they will select the consultant company within six weeks and the company will have to complete the drilling work in the next six months. The terms of reference (ToR) has been prepared accordingly, said Jha.</span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;">The company will then go ahead with the feasibility study, detailed engineering design, plant establishment among other works.</span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;">The company is preparing to drill 265 to 300 meters deep into the mine at five different areas of Dhaubadhi and Pokhari. The company clarified that it will begin the feasibility study only after completing the drilling process.</span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;">The company will look for investment partners once it starts the feasibility study.</span></span></span></span></p>

<p><span style="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 released Rs 250 million for the company during the last fiscal year whereas the budget allocated for the current fiscal year has been increased to Rs 1.5 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;">The public company with a capital of Rs 10 billion is being looked after by the central government.</span></span></span></span></p>

<p>&nbsp;</p>

<p>&nbsp;</p>
',
			'published' => true,
			'created' => '2020-08-21',
			'modified' => '2020-08-21',
			'keywords' => '',
			'description' => '',
			'sortorder' => '12104',
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	(int) 10 => array(
		'Article' => array(
			'id' => '12355',
			'article_category_id' => '1',
			'title' => 'Government to Resume Chartered Flights ',
			'sub_title' => '',
			'summary' => 'August 21: The government has decided to resume chartered flights to airlift its citizens stranded abroad due to Covid-19 pandemic.',
			'content' => '<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:Arial">August 21: The government has decided to resume chartered flights to airlift its citizens stranded abroad due to Covid-19 pandemic. A meeting of the Council of Ministers took a decision to this effect on Thursday (August 20).</span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:Arial">All rescued citizens will have to isolate themselves in hotels for at least a week after returning back to Nepal.</span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:Arial">The cabinet decided to resume its operation to rescue Nepali citizens stranded abroad upon the recommendation of the Covid-19 Crisis Management Centre (CCMC). </span></span></span></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 government will operate three chartered flights per day to rescue the stranded citizens.</span></span></span></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 latest decision is a U-turn from its decision taken just three days ago to ban all chartered flights after the capital recorded a massive surge in Covid-19 cases.</span></span></span></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 meeting also decided to facilitate the movement of diplomats stationed in Nepal. Another decision includes increasing quarantine facilities at the local levels. </span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:Arial">Similarly, the government has also decided to bear the expenses for the treatment of COVID-19 patients in private hospitals. The government&#39;s decision comes amid concerns that the government hospitals alone cannot provide treatment to all patients amid growing infection in the capital.</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">Nepali nationals returning from India via all 10 entry points will also have to isolate themselves for a week in the border areas. </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">Although most of the districts have enforced prohibitory order to crub the spread of infection, the cabinet meeting has decided not to restrict the transportation of raw materials required for industries and factories. </span></span></span></span></p>

<p>&nbsp;</p>
',
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	(int) 11 => array(
		'Article' => array(
			'id' => '12359',
			'article_category_id' => '1',
			'title' => 'NRB Preparing for Refinancing within 2 Months',
			'sub_title' => '',
			'summary' => 'August 21: Nepal Rastra Bank has notified businesses and industries that they will need to apply within 45 days to become a recipient of the refinancing facility, initiated to provide relief to the debtors affected by the coronavirus pandemic.',
			'content' => '<h1><span style="font-size:20px"><span style="font-family:&quot;Times New Roman&quot;">August 21: Nepal Rastra Bank has notified businesses and industries that they will need to apply within 45 days to become a recipient of the refinancing facility, initiated to provide relief to the debtors affected by the coronavirus pandemic. This process, however, will likely be affected due to the prohibitory order imposed in the various parts of the country. </span></span></h1>

<p><span style="font-size:20px"><span style="font-family:&quot;Times New Roman&quot;">Nepal Rastra Bank had recently demanded an application from banks and financial institutions (BFIs) along with a list of customers that require refinancing facility within 45 days. Nepal Rastra Bank has prepared to settle the issue of refinancing soon based on the list of customers that the commercial banks, development banks and finance companies submit. Preparations had been made to ensure the businesses got refinancing within two months.&nbsp; However, a prohibitory order has been imposed in various areas of the nation due to coronavirus pandemic. The time period for this order is different for different areas with chances of extension. Banks may need more time to prepare the list of debtors for refinancing if the period of the prohibitory order is extended. Only the necessary banking activities are in operation during this prohibitory period and it will also not be possible for the industrialists and businessmen to visit the banks in this situation.</span></span></p>

<p><span style="font-size:20px"><span style="font-family:&quot;Times New Roman&quot;">Chairman of the Nepal Bankers&#39; Association Bhuvan Kumar Dahal says that they could not start preparing for the application at this moment because of the prohibitory order issued by the government.</span></span></p>

<p><span style="font-size:20px"><span style="font-family:&quot;Times New Roman&quot;">&ldquo;We will provide refinancing facility to the clients affected by COVID as soon as Nepal Rastra Bank makes the Refinancing Fund available to us after our application,&rdquo; he said. Bankers stated that refinancing will be available within two months if the prohibitory order does not get prolonged.</span></span></p>

<p><span style="font-size:20px"><span style="font-family:&quot;Times New Roman&quot;">Nepal Rastra Bank has notified banks and financial institutions to apply for refinancing between August 17 to September 30. </span></span></p>

<p><span style="font-size:20px"><span style="font-family:&quot;Times New Roman&quot;">The banks will only be able to demand a maximum of 25 percent of their capital as the refinancing amount. The debtor must have at least a year left in their repayment period to be eligible for this. Debtors that have a loan from more than one bank will only be considered for one bank to avoid any repetitions. </span></span></p>

<p><span style="font-size:20px"><span style="font-family:&quot;Times New Roman&quot;">According to the NRB, the banks will have to demand at least 70 percent of the total amount applied for refinancing under the refinancing of small, cottage and micro enterprises. Banks will also have to select at least five customers/ debtors from each branch while picking the loans to be applied for refinancing. Nepal Rastra Bank has stated that the applications that do not follow the required process or aren&rsquo;t submitted within the deadline will not be accepted.</span></span></p>

<p><span style="font-size:20px"><span style="font-family:&quot;Times New Roman&quot;">According to Gunakar Bhatta, the spokesperson for Nepal Rastra Bank, the banks have to apply along with list of customers within the stipulated time in the Refinancing Work Procedure-2077. According to him, the application for refinancing was announced to the banks for the reduction of interest costs for those affected by COVID and for a speedy implementation of refinancing in the economy.</span></span></p>

<p><span style="font-size:20px"><span style="font-family:&quot;Times New Roman&quot;"><strong>Adding More Liquidity</strong></span></span></p>

<p><span style="font-size:20px"><span style="font-family:&quot;Times New Roman&quot;">The liquidity in the market will increase greatly once Nepal Rastra Bank provides banks with a lumpsum of refinancing amount. The market currently already has a excess liquidity of Rs 200 billion. Liquidity in banks will further increase when they will be provided with refinancing amount. The banks will have to provide the COVID-19 affected debtors the loan at 5 percent interest rate once they receive the refinancing amount from the central bank. </span></span></p>

<p><span style="font-size:20px"><span style="font-family:&quot;Times New Roman&quot;">NRB Spokesperson Bhatta said that the amount received for refinancing will provide an additional liquidity to the banks. &ldquo;There is no demand in the market even if the banks are able to use the refinancing fund. But their interest income will decrease. Debts are not flowing. Therefore, liquidity will increase in the market,&rdquo; he said. Banks do not seem excited about the refinancing because their liquidity will increase but their interest income will decrease when the refinancing fund is distributed. The interest income will decrease as they will only receive 5 percent interest rate when they used to receive 12 percent from the debtors.</span></span></p>

<p><span style="font-size:20px"><span style="font-family:&quot;Times New Roman&quot;">Ganesh Pokharel, the chief executive officer of Citizens Bank pointed out that the refinancing facility is a national agenda and that it should be made available soon to help the debtors affected by COVID-19 even though the liquidity in market will increase because of it.</span></span></p>

<p><span style="font-size:20px"><span style="font-family:&quot;Times New Roman&quot;">Saroj Tuladhar, the president of Nepal Financial Institutions&rsquo; Association said the finance companies have also started to collect data of the debtors. According to him, the list of the debtors will be prepared within 5-6 days. &ldquo;We will implement this as soon as the we get the approval after submitting it to Rastra Bank,&rdquo; he said. </span></span></p>

<p><span style="font-size:20px"><span style="font-family:&quot;Times New Roman&quot;">The period of the lumpsum refinancing will be a year at most and will not be renewed. However, the period of refinancing will be a year at most for debtors who are extremely affected by coronavirus, and six months for those who are mildly affected by coronavrius. Nepal Rastra Bank informed that this refinancing is renewable. The upper limit for such financing is Rs 50 million.&nbsp; Small, cottage, and micro enterprises refinancing and general refinancing debtors will receive the refinancing at 5 percent interest rate. Special refinancing will be provided to the debtors at 3 percent interest rate.</span></span></p>

<p><span style="font-size:20px"><span style="font-family:&quot;Times New Roman&quot;">The refinancing work procedure under the monetary policy of the current fiscal year will provide 70 percent of the refinancing fund through commercial banks, development banks and finance companies, and 10 percent through the microfinance companies. Nepal Rastra Bank will distribute 20 percent of the refinancing through their evaluation.</span></span></p>

<p>&nbsp;</p>

<p>&nbsp;</p>
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			'description' => '',
			'sortorder' => '12102',
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	(int) 12 => array(
		'Article' => array(
			'id' => '12354',
			'article_category_id' => '1',
			'title' => 'Nepali Importers Troubled by Additional Transportation Cost at ICP',
			'sub_title' => '',
			'summary' => 'August 20: Nepali importers have been burdened with additional transportation expenses at the Nepal-India Integrated Check Post (ICP) due to lack of their own warehouse at the newly built facility.',
			'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;">August 20: Nepali importers have been burdened with additional transportation expenses at the Nepal-India Integrated Check Post (ICP) due to lack of their own warehouse at the newly built facility.</span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;">The importers complain that they are forced to pay additional amount to transport the goods downloaded at Raxaul to the ICP. Earlier, they used to drop the goods at Birgunj- Raxaul border point but they now have to take the goods to the ICP for customs clearance. However, the transport companies do not have their own warehouse at the ICP neither do the importers. </span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;">The importers are facing problem due to the lack of warehouse. </span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;">Most of the import-export through Birgunj have to pass through the ICP. Only the petroleum products, clinker and coal enter the country through Inarwa transit point, says customs official Ramesh Sukmani. </span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;">Importer Suresh Rungata says that they are forced to load the goods that arrive at Raxaul and take them to the ICP. Most of the transport companies have ware house at Raxaul.</span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;">Birgunj is just one kilometer away from Raxaul but the ICP is 20 kilometers away. </span></span></span></span></p>
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	(int) 13 => array(
		'Article' => array(
			'id' => '12353',
			'article_category_id' => '1',
			'title' => 'FNCCI Given 3 Options for Election',
			'sub_title' => '',
			'summary' => 'August 20: A committee formed by the Federation of Nepalese Chambers of Commerce and Industry (FNCCI) has recommended three modalities for the election of the umbrella organisations of business entrepreneurs and industrialists of Nepal.  ',
			'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;">August 20: A committee formed by the Federation of Nepalese Chambers of Commerce and Industry (FNCCI) has recommended three modalities for the election of the umbrella organisations of business entrepreneurs and industrialists of Nepal. &nbsp;</span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;">The committee on Wednesday (August 19) provided its suggestions to the FNCCI, which has been struggling to hold its general convention amid crisis created by coronavirus pandemic.</span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;">One of the options given by the committee is to hold all three levels of election in the capital after the risk of coronavirus subsides. Other options include main election and election of associates in Kathmandu and the district/town election in the respective districts by maintaining physical distance while the third option is to hold election through electronic means. </span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;">The committee prepared the three modalities after consulting with the Ministry of Health and Population and the Covid-19 Crisis Management Centre (CCMC).</span></span></span></span></p>

<p><span 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;Now it is up to the executive committee of FNCCI to select the modality and date of election,&rdquo; said Ranjit Acharya, a member of FNCCI.</span></span></span></span></p>

<p><span 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 decision will be taken by the next meeting of executive committee,&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;">Although the FNCCI had fixed the date of its General Assembly to elect a new executive committee for April 10-11, the election could not be held due to the lockdown imposed by the government as well as the risk of coronavirus infection. The date of the General Assembly has been deferred time and again.</span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;">The FNCCI leadership is under pressure to hold the election as soon as possible. </span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;">The FNCCI members are divided over whether to hold the election after the risk of Covid-19 subsides or to go ahead for the polls by maintaining physical distancing.</span></span></span></span></p>
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		'Article' => array(
			'id' => '12352',
			'article_category_id' => '1',
			'title' => 'Government Data show Improvement in Revenue Collection ',
			'sub_title' => '',
			'summary' => 'August 20: The government has made some progress in revenue collection, which was badly affected by the coronavirus pandemic since the last four months.',
			'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;">August 20: The government has made some progress in revenue collection, which was badly affected by the coronavirus pandemic since the last four months.</span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;">Officials say that the government is close to meeting its target of revenue collection after lifting the lockdown in third week of July. </span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;">According to the Financial Comptroller General&rsquo;s Office, the government collected revenue of Rs 58.81 billion in between mid-July and mid-August.</span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;">The data maintained by the office shows that the revenue collection was Rs 30 billion in the last week alone. </span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;">Officials at the Inland Revenue Department (IRD) said that the sudden increase in revenue collection toward the second week of August was due to the collection of VAT and excise duty, which were pending from the last fiscal year.</span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;">According to Deputy Director General of IRD Mukti Pandey, the department had set a target to collect Rs 35 billion in the review period. He said they managed to collect Rs 34.74 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;">IRD collected Rs 29.33 billion from VAT and income tax while the excise duty amount was Rs 5.41 billion. The department informed that excise duty declined last month because the liquor market as well as production was badly affected by 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;">However, revenue collection from customs duty increased during the review period. According to the director of the Customs Department Sishir Ghimire, revenue collection from customs point in mid-July to mid-August was Rs 22.84 billion, which is well above the target of Rs 19.81 billion.</span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;">According to him, the improvement in collection of customs duty was possible due to the increase in import of food products, clothes, petroleum products, machinery parts among others after the lockdown was lifted. </span></span></span></span></p>

<p>&nbsp;</p>
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		'Article' => array(
			'id' => '12366',
			'article_category_id' => '1',
			'title' => 'Traders in Dilemma Regarding Import of Readymade Garments for Festive Season',
			'sub_title' => '',
			'summary' => 'August 24: Traders are in dilemma on whether or not to import readymade garments for the upcoming Dashain and Tihar festivals.',
			'content' => '<p><span style="font-size:18px"><span style="font-family:Calibri"><span style="font-family:&quot;Times New Roman&quot;">August 24: Traders are in dilemma on whether or not to import readymade garments for the upcoming Dashain and Tihar festivals. They are unable to decide because of the negative impact of the four-month-long lockdown on the businesses and the recent prohibitory order to control coronavirus infection. </span></span></span></p>

<p><span style="font-size:18px"><span style="font-family:Calibri"><span style="font-family:&quot;Times New Roman&quot;">In the previous years, traders used to import readymade garments worth Rs 300 billion from China and India targeting the festivals. They used to start preparations from mid-July for this. However, industries, businesses and public life have been halted this year due to coronavirus, creating confusion among the traders. Due to this, they estimate that there may be shortage of readymade garments in the market during this festive season. </span></span></span></p>

<p><span style="font-size:18px"><span style="font-family:Calibri"><span style="font-family:&quot;Times New Roman&quot;">According to the &nbsp;treasurer of New Road-based National Trade Association, Ram Chandra Parajuli, who has been involved in Nepal-China trade for a long time, the confusion has been created as around 500 containers of garments imported for the summer season have been stopped at Kerung border for the last six months. </span></span></span></p>

<p><span style="font-size:18px"><span style="font-family:Calibri"><span style="font-family:&quot;Times New Roman&quot;">&ldquo;Traders have invested millions of rupees for importing clothes for summer but the containers are stuck at the border. It is still uncertain when will the products arrive in the country,&rdquo; said Parajuli, adding, &ldquo;On top of that, there is high probability that the products will be worn out. In such a scenario how will we import clothes for the upcoming festival?&rdquo; </span></span></span></p>

<p><span style="font-size:18px"><span style="font-family:Calibri"><span style="font-family:&quot;Times New Roman&quot;">The trade of shoes, slippers, and clothes increases by 40 percent during the festive season than other times. However, this year, the traders are confused due to the pandemic. </span></span></span></p>

<p><span style="font-size:18px"><span style="font-family:Calibri"><span style="font-family:&quot;Times New Roman&quot;">Dil Sundar Shrestha, chairman of the Trade Fair Committee of FNCCI, said that even if the garments are imported, only 20 percent business can be done. </span></span></span></p>

<p><span style="font-size:18px"><span style="font-family:Calibri"><span style="font-family:&quot;Times New Roman&quot;">He further claimed that the business of garments will not increase during the upcoming festivals as people have lost their jobs and their source of income has been cut off due to the pandemic. </span></span></span></p>

<p>&nbsp;</p>
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			'title' => 'Indian Workers Earn More in Nepal than Nepali Workers in India',
			'sub_title' => '',
			'summary' => 'August 24: There is a general understanding that Nepali migrant workers in India send large amount of money back home every year.',
			'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;">August 24: There is a general understanding that Nepali migrant workers in India send large amount of money back home every 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;">India has been a prime destination for Nepalese workers since a long time due to its close proximity, open border and similar culture. </span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;">In the mean time, Nepal is also a major labour destination for Indian workers. In fact, the salary that Indian labourers earn in Nepal and take back home is three times more than what the Nepali labourers earn in India.&nbsp; </span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;">According to the World Bank&rsquo;s Bilateral Remittance Matrix, Nepali workers in India had sent remittance worth Rs 102 billion in 2017 while the Indian workers sent home Rs 302 billion from Nepal in the same year. Nepal is one of the top ten destinations for India to earn remittance.</span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;">The remittance Nepal receives from Indian also includes the salary of 35,000 serving Gurkha soldiers and pensions of 180,000 retired soldiers, which amount to Rs 72.57 billion annually. If this amount is deducted from the total remittance, the amount sent by other Nepalis stands at around Rs 29 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;">Meanwhile, Nepal is a lucrative destination for Indian workers who are from the states that share border with Nepal. As the average income in Nepal is much better than that in India, the workers of India find the Nepali labour market quite attractive, according to the employers.</span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;">The number of Indian workers is quite considerable in the industrial corridor near the border areas. According to the Nepali industrialists, more than 1 million Indian workers are employed in Nepal. Lots of labourers from India are found working in brick kilns, jute mills and cement factories.</span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;">Besides industries, Indian workers are also employed by gold dealers of Nepal. According to the Federation of Nepal Gold and Silver Dealers Association, more than 75 percent of goldsmiths in Nepal are from India. They take home around Rs 20 billion each year, says Tej Ratna Shakya, former chairman of the federation. </span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;">Meanwhile, the government of Nepal does not have any data about the exact number of Indian migrant workers working in Nepal. As the Indians do not require work permit to work in Nepal, the government does not have the required data.</span></span></span></span></p>

<p><span 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;Although high ranking workers from India take work permit from the Government of Nepal to show the source of their income, there are only a handful of them. On the other hand, lots of Indians working at the lower level do not take any permission for work,&rdquo; says Sundar Shrestha, chief of the Birgunj office of Labour and Employment 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;">Government officials say it is not mandatory for Indian nationals to obtain work permit in Nepal as guaranteed by the &nbsp;Nepal-India Peace and Friendship Treaty 1950.</span></span></span></span></p>

<p>&nbsp;</p>

<p>&nbsp;</p>
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			'title' => 'Government to Allow Air Service from September 1',
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			'summary' => 'August 23: The government has agreed to allow not more than 500 flights a day starting from September 1. ',
			'content' => '<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:Arial">August 23: The government has agreed to allow not more than 500 flights a day starting from September 1. </span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:Arial">The Council of Ministers has assigned the Ministry of Culture, Tourism and Civil Aviation to regulate flights amid risk of coronavirus pandemic.</span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:Arial">The cabinet has agreed to allow regular as well as chartered flights not exceeding 500 flights a day. However, international flights have been approved only for the countries where PCR tests are available. </span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:Arial">Nepali citizens stranded in Malaysia, the UAE (Dubai), South Korea, Thailand, Japan, China, Hong Kong, Australia, the USA, Canada and European countries will be allowed to return home through regular commercial flights once the restriction on air service comes to an end. </span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:Arial">However, people from countries where PRC tests are not available will have to return home through chartered flights under strict regulation.</span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:Arial">Government Spokesperson Dr Yuba Raj Khatiwada informed that the government will arrange chartered flights for the destinations where PCR tests are not available while the stranded Nepalis can return home upon the recommendation of the diplomatic missions of Nepal in the respective places.</span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:Arial">Those travelling to Nepal through regular flights will have to produce certificate of negative test for Covid-19. They will also have to fill up an online form available at the website of the Covid-19 Crisis Management&nbsp; Centre (CCMC) and print the barcode. Another precondition for the people coming to Nepal is that they will have to stay in hotel quarantine for seven days, for which they will have to show the hotel booking to the airport authorities. </span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:Arial">Afterwards, they will have to sign a written commitment to stay in home quarantine for 14 days. The local units will be responsible to monitor this.</span></span></span></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 travellers will have to pay the bill for booking hotel at the time of purchasing the air ticket. Only after fulfilling all the criteria, the passengers will be allowed to enter the country.</span></span></span></span></p>

<p>&nbsp;</p>

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

<p>&nbsp;</p>
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	(int) 3 => array(
		'Article' => array(
			'id' => '12363',
			'article_category_id' => '1',
			'title' => 'Shortage and Price Hike of Sugar Likely during Upcoming Festive Season',
			'sub_title' => '',
			'summary' => 'August 23: With the festive season just around the cover, the market is likely to face shortage of sugar and a price hike.',
			'content' => '<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Bangla MN&quot;">August 23: With the festive season just around the cover, the market is likely to face shortage of sugar and a price hike.</span></span></span></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 domestic sugar industries have run out of stock while the government agencies responsible for the supply of sugar have given permission for limited amount of import this year. Because of these factors, the customers are likely to face shortage of sugar in the upcoming festivals of Dashain and Tihar.</span></span></span></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;">Usually, the demand for sugar during festive season is 70,000 metric tons. But the government this year has given permission to import only 30,000 metric tons of sugar. </span></span></span></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;">Salt Trading Corporation had sought permission for importing 50,000 metric tons of sugar considering the rise in demand during festive season.</span></span></span></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;">But it has been given permission to import 20,000 metric tons of sugar while the Food Management Company Limited has got permission to purchase 10,000 metric tons of sugar.</span></span></span></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;">Stakeholders say that failure to supply adequate amount of sugar as per the demand would result in price hike.</span></span></span></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;">Spokesperson of Salt Trading Corporation Kumar Rajbhandari says that the artificial shortage of sugar witnessed right now and the possible price hike could have been checked had the government given them permission to import 50,000 metric tons of sugar.</span></span></span></span></p>
',
			'published' => true,
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	(int) 4 => array(
		'Article' => array(
			'id' => '12362',
			'article_category_id' => '1',
			'title' => 'Tender for Track Bed of East-West Electric Railway to Proceed Ahead',
			'sub_title' => '',
			'summary' => 'August 23: The Department of Railways has informed that the construction work of the track bed of the Kakadvitta-Inaruwa section of the East-West Electric Railway will not be halted. ',
			'content' => '<p><span style="font-size:12pt"><span style="font-family:Cambria"><span style="font-size:14.0pt"><span style="font-family:Calibri">August 23: The Department of Railways has informed that the construction work of the track bed of the Kakadvitta-Inaruwa section of the East-West Electric Railway will not be halted. The project has courted controversy since the start of the tender process.</span></span></span></span></p>

<p><span style="font-size:12pt"><span style="font-family:Cambria"><span style="font-size:14.0pt"><span style="font-family:Calibri">Infrastructure experts have advised not to proceed with the project stating &nbsp;that basic preparations like land acquisition and site clearance have not been completed. However, the railway department informed that the project will move ahead regardless of any circumstances.</span></span></span></span></p>

<p><span style="font-size:12pt"><span style="font-family:Cambria"><span style="font-size:14.0pt"><span style="font-family:Calibri">Balaram Mishra, director general of the department, informed that no work would be stopped as the government, parliamentary committee and the high court have already ordered them to move ahead with the tender and other process of construction of the 106 km long track bed.</span></span></span></span></p>

<p><span style="font-size:12pt"><span style="font-family:Cambria"><span style="font-size:14.0pt"><span style="font-family:Calibri">&quot;The department has started the tender process following the government&rsquo;s approval,&quot; Mishra informed.</span></span></span></span></p>

<p><span style="font-size:12pt"><span style="font-family:Cambria"><span style="font-size:14.0pt"><span style="font-family:Calibri">He also claimed that there would be no problem in the construction of the section as the work was carried out after analyzing the legal issues and other basic aspects.</span></span></span></span></p>

<p><span style="font-size:12pt"><span style="font-family:Cambria"><span style="font-size:14.0pt"><span style="font-family:Calibri">The department, which had issued a tender of Rs 28 billion twice -- &nbsp;on June 28 and July 1 -- has now moved ahead with the tender evaluation following an interim order issued by the Patan High Court on August 10. The department has issued tenders for the section in 54 packages.</span></span></span></span></p>

<p>&nbsp;</p>
',
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	(int) 5 => array(
		'Article' => array(
			'id' => '12361',
			'article_category_id' => '1',
			'title' => 'Lack of Coordination affects Daily Essential Services ',
			'sub_title' => '',
			'summary' => 'August 23: Majority of daily essential businesses and services in the valley have been affected due to the lack of coordination among the government agencies during the prohibitory order imposed since Thursday. ',
			'content' => '<p><span style="font-size:11pt"><span style="font-family:Calibri"><span style="font-size:12.0pt"><span style="font-family:&quot;Times New Roman&quot;">August 23: Majority of daily essential businesses and services in the valley have been affected due to the lack of coordination among the government agencies during the prohibitory order imposed since Thursday. </span></span></span></span></p>

<p><span style="font-size:11pt"><span style="font-family:Calibri"><span style="font-size:12.0pt"><span style="font-family:&quot;Times New Roman&quot;">Although the District Administration Office has allowed opening food and other necessary consumer goods shop, the business of consumer goods such as groceries, dairy, and meat have been affected as the traders could not go to their shop due to police barricade. </span></span></span></span></p>

<p><span style="font-size:11pt"><span style="font-family:Calibri"><span style="font-size:12.0pt"><span style="font-family:&quot;Times New Roman&quot;">Traders whose shops are distant from their home, complain that the police do not allow them to go to their shops. </span></span></span></span></p>

<p><span style="font-size:11pt"><span style="font-family:Calibri"><span style="font-size:12.0pt"><span style="font-family:&quot;Times New Roman&quot;">Former president of Nepal Retailers Association Pabitra Bajracharya, who stays in New Road, was stopped by the police on the way to his shop at Shwoyambhu. He was not allowed to go to the shop although his customers kept calling him to buy groceries such as rice, lentils, water, salt, sugar and oil. </span></span></span></span></p>

<p><span style="font-size:11pt"><span style="font-family:Calibri"><span style="font-size:12.0pt"><span style="font-family:&quot;Times New Roman&quot;">His shop is closed since Thursday. &quot;I am just an example. There are many traders like me who are deprived of opening their shops due to police obstruction,&quot; he told New Business Age. </span></span></span></span></p>

<p><span style="font-size:11pt"><span style="font-family:Calibri"><span style="font-size:12.0pt"><span style="font-family:&quot;Times New Roman&quot;">Although the DAO has issued a notice that grocery shops are allowed to operate, there has been problem as the timeframe has not been specified. Therefore, the police themselves are in dilemma. In most of the places of Kathmandu, the police have allowed to open shops from 5am to 7am. </span></span></span></span></p>
',
			'published' => true,
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	(int) 6 => array(
		'Article' => array(
			'id' => '12360',
			'article_category_id' => '1',
			'title' => 'NRB tells Remittance Companies to Open Counters despite Prohibitory Order',
			'sub_title' => '',
			'summary' => 'August 23: Nepal Rastra Bank (NRB) has directed remittance companies to provide their service despite the prohibitory order of the government. ',
			'content' => '<p><span style="font-size:12pt"><span style="font-family:Cambria"><span style="font-size:14.0pt"><span style="font-family:Arial">August 23: Nepal Rastra Bank (NRB) has directed remittance companies to provide their service despite the prohibitory order of the government. The central bank issued such order considering that many households in Nepal are dependent on remittance for their livelihood.</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">NRB in a circular issued to the remittance companies has instructed them to provide their service by adopting necessary safety precaution. </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 instruction comes after the local governments in the Kathmandu Valley and some other infected districts imposed prohibitory orders to contain the spread of the disease.</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 central bank clarified that such instruction was given so that the people dependent on remittance would not have to suffer during the current crisis. </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">&ldquo;We have ordered the remittance companies not to compromise on their service so that the families relying on remittance would not face any problem. The remittance companies will have to facilitate in availing the money sent by Nepali migrant workers from abroad,&rdquo; said an official at the Foreign Exchange Management Department of NRB.</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 remittance companies have been urged to coordinate with the local units to keep their counters open for a limited period with minimum number of staffers.</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 central bank has also instructed the remittance companies to coordinate with BFIs for availing foreign exchange facility and to make payment of remittance through banks if possible.</span></span></span></span></p>

<p>&nbsp;</p>

<p>&nbsp;</p>

<p>&nbsp;</p>

<p>&nbsp;</p>
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	(int) 7 => array(
		'Article' => array(
			'id' => '12358',
			'article_category_id' => '1',
			'title' => 'Electricity Tariff should be Collected by Ascertaining Amount of Electricity Consumption: CIAA ',
			'sub_title' => '',
			'summary' => 'August 21: The Commission for the Investigation of Abuse of Authority (CIAA) has said that the electricity tariff should be collected by ensuring the quantity of electricity consumed by the industries supplied through dedicated feeders and trunk lines before the end of load shedding.',
			'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;">August 21: The Commission for the Investigation of Abuse of Authority (CIAA) has said that the electricity tariff should be collected by ensuring the quantity of electricity consumed by the industries supplied through dedicated feeders and trunk lines before the end of load shedding. The CIAA has suggested that the data of Time of Day (TOD) meter should be primary basis for this. </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;">Sending a three-point letter to the Ministry of Energy, the Electricity Regulatory Commission and the Nepal Electricity Authority regarding the dedicated and trunk line tariff dispute, the authority has suggested not to impose additional burden on the industrialists in the name of tariff. </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 industrialists approached the CIAA after the cabinet endorsed a report on the dedicated and trunk line submitted by a high level committee coordinated by Secretary at the Ministry of Energy, Dinesh Ghimire. The authority had sent letter to these bodies last week on the basis of the request by the industrialists. </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 the letter, the authority should determine the electricity tariff only after ascertaining whether the electricity has been used for dedicated feeders and trunk lines after the load shedding ended. </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 authority has suggested taking the decision of the Supreme Court in the case of Shivam Cement as precedence for other industries as well. </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 court has directed the government not to charge Shivam Cement any tariff for dedicated and trunk line from mid July 2015 to January 13, 2016. </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;">Load shedding in the industrial sector had come to an end on May 14, 2018. However, the NEA has been sending dedicated and trunk line electricity tariff bills to the industries even after that. Since then, the dispute has become more complicated. </span></span></span></span></p>

<p>&nbsp;</p>
',
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	(int) 8 => array(
		'Article' => array(
			'id' => '12357',
			'article_category_id' => '1',
			'title' => 'Bank Account Mandatory for Receiving Social Security Allowance ',
			'sub_title' => '',
			'summary' => 'August 21: The government has made it mandatory for people receiving social security allowance to open bank accounts. ',
			'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;">August 21: The government has made it mandatory for people receiving social security allowance to open bank accounts. </span></span></span></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 Department of National ID and Civil Registration (DoNIDCR) has implemented this provision in line with the announcement made during the current fiscal year&rsquo;s budget, which mentions that all beneficiaries will have to open bank accounts from this year onward to receive the allowance.</span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:Arial">With this new provision, on the local units which do not have access to banking service will receive social security allowance in cash. All other local units will have to open bank accounts for the beneficiaries and deposit their allowance in bank.</span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:Arial">Senior citizens, single women, people from backward Dalit community, people from endangered groups, differently abled persons, widow among others have been receiving social security allowance ranging from Rs 400 to Rs 3000 per month. </span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:Arial">The government had proposed this concept five years ago but it not implemented all over the country. But the Director of DoNIDCR Shiva Raj Joshi says it has become mandatory in all local units except some exceptions from now onward.</span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:Arial">According to Joshi, the local units will not be allowed to hand over the allowance in cash anymore.</span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:Arial">So far, 137 local units have already started distributing social security allowance through the banking system.</span></span></span></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 department informed that altogether 3.2 million people receive social security allowance in Nepal.</span></span></span></span></p>

<p>&nbsp;</p>

<p>&nbsp;</p>
',
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	(int) 9 => array(
		'Article' => array(
			'id' => '12356',
			'article_category_id' => '1',
			'title' => 'Dhaubadhi Mine Suitable for Commercial Production of Iron',
			'sub_title' => '',
			'summary' => 'August 21: Dhaubadhi Iron Company Limited has claimed that the iron extracted from Nawalpur-based Dhaubadhi mine is viable for commercial use.',
			'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;">August 21: Dhaubadhi Iron Company Limited has claimed that the iron extracted from Nawalpur-based Dhaubadhi mine is viable for commercial use.</span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;">Sources said that a study of samples from the mine has indicated the possibility of commercial production of iron from the mine in large scale. Concerned authorities had sent five tons of ore extracted from the mine for study in China last year. It has been learnt that the stakeholders in Nepal will receive the report from China within 20 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;">CEO of the company Krishna Dev Jha told New Business Age that they will now be able to extract iron from the mine for commercial production. He added that they will soon start necessary preparation for setting up the extraction technology, storage and certification works among others.</span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;">&ldquo;After going through the report, we can ascertain the quantity of per day extraction from the mine as well as investment requirement and cost estimates,&rdquo; said Jha.</span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;">The company has already initiated the process to select the consultant company for drilling the mine. </span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;">Jha said that they will select the consultant company within six weeks and the company will have to complete the drilling work in the next six months. The terms of reference (ToR) has been prepared accordingly, said Jha.</span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;">The company will then go ahead with the feasibility study, detailed engineering design, plant establishment among other works.</span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;">The company is preparing to drill 265 to 300 meters deep into the mine at five different areas of Dhaubadhi and Pokhari. The company clarified that it will begin the feasibility study only after completing the drilling process.</span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;">The company will look for investment partners once it starts the feasibility study.</span></span></span></span></p>

<p><span style="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 released Rs 250 million for the company during the last fiscal year whereas the budget allocated for the current fiscal year has been increased to Rs 1.5 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;">The public company with a capital of Rs 10 billion is being looked after by the central government.</span></span></span></span></p>

<p>&nbsp;</p>

<p>&nbsp;</p>
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	(int) 10 => array(
		'Article' => array(
			'id' => '12355',
			'article_category_id' => '1',
			'title' => 'Government to Resume Chartered Flights ',
			'sub_title' => '',
			'summary' => 'August 21: The government has decided to resume chartered flights to airlift its citizens stranded abroad due to Covid-19 pandemic.',
			'content' => '<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:Arial">August 21: The government has decided to resume chartered flights to airlift its citizens stranded abroad due to Covid-19 pandemic. A meeting of the Council of Ministers took a decision to this effect on Thursday (August 20).</span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:Arial">All rescued citizens will have to isolate themselves in hotels for at least a week after returning back to Nepal.</span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:Arial">The cabinet decided to resume its operation to rescue Nepali citizens stranded abroad upon the recommendation of the Covid-19 Crisis Management Centre (CCMC). </span></span></span></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 government will operate three chartered flights per day to rescue the stranded citizens.</span></span></span></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 latest decision is a U-turn from its decision taken just three days ago to ban all chartered flights after the capital recorded a massive surge in Covid-19 cases.</span></span></span></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 meeting also decided to facilitate the movement of diplomats stationed in Nepal. Another decision includes increasing quarantine facilities at the local levels. </span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:Arial">Similarly, the government has also decided to bear the expenses for the treatment of COVID-19 patients in private hospitals. The government&#39;s decision comes amid concerns that the government hospitals alone cannot provide treatment to all patients amid growing infection in the capital.</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">Nepali nationals returning from India via all 10 entry points will also have to isolate themselves for a week in the border areas. </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">Although most of the districts have enforced prohibitory order to crub the spread of infection, the cabinet meeting has decided not to restrict the transportation of raw materials required for industries and factories. </span></span></span></span></p>

<p>&nbsp;</p>
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	(int) 11 => array(
		'Article' => array(
			'id' => '12359',
			'article_category_id' => '1',
			'title' => 'NRB Preparing for Refinancing within 2 Months',
			'sub_title' => '',
			'summary' => 'August 21: Nepal Rastra Bank has notified businesses and industries that they will need to apply within 45 days to become a recipient of the refinancing facility, initiated to provide relief to the debtors affected by the coronavirus pandemic.',
			'content' => '<h1><span style="font-size:20px"><span style="font-family:&quot;Times New Roman&quot;">August 21: Nepal Rastra Bank has notified businesses and industries that they will need to apply within 45 days to become a recipient of the refinancing facility, initiated to provide relief to the debtors affected by the coronavirus pandemic. This process, however, will likely be affected due to the prohibitory order imposed in the various parts of the country. </span></span></h1>

<p><span style="font-size:20px"><span style="font-family:&quot;Times New Roman&quot;">Nepal Rastra Bank had recently demanded an application from banks and financial institutions (BFIs) along with a list of customers that require refinancing facility within 45 days. Nepal Rastra Bank has prepared to settle the issue of refinancing soon based on the list of customers that the commercial banks, development banks and finance companies submit. Preparations had been made to ensure the businesses got refinancing within two months.&nbsp; However, a prohibitory order has been imposed in various areas of the nation due to coronavirus pandemic. The time period for this order is different for different areas with chances of extension. Banks may need more time to prepare the list of debtors for refinancing if the period of the prohibitory order is extended. Only the necessary banking activities are in operation during this prohibitory period and it will also not be possible for the industrialists and businessmen to visit the banks in this situation.</span></span></p>

<p><span style="font-size:20px"><span style="font-family:&quot;Times New Roman&quot;">Chairman of the Nepal Bankers&#39; Association Bhuvan Kumar Dahal says that they could not start preparing for the application at this moment because of the prohibitory order issued by the government.</span></span></p>

<p><span style="font-size:20px"><span style="font-family:&quot;Times New Roman&quot;">&ldquo;We will provide refinancing facility to the clients affected by COVID as soon as Nepal Rastra Bank makes the Refinancing Fund available to us after our application,&rdquo; he said. Bankers stated that refinancing will be available within two months if the prohibitory order does not get prolonged.</span></span></p>

<p><span style="font-size:20px"><span style="font-family:&quot;Times New Roman&quot;">Nepal Rastra Bank has notified banks and financial institutions to apply for refinancing between August 17 to September 30. </span></span></p>

<p><span style="font-size:20px"><span style="font-family:&quot;Times New Roman&quot;">The banks will only be able to demand a maximum of 25 percent of their capital as the refinancing amount. The debtor must have at least a year left in their repayment period to be eligible for this. Debtors that have a loan from more than one bank will only be considered for one bank to avoid any repetitions. </span></span></p>

<p><span style="font-size:20px"><span style="font-family:&quot;Times New Roman&quot;">According to the NRB, the banks will have to demand at least 70 percent of the total amount applied for refinancing under the refinancing of small, cottage and micro enterprises. Banks will also have to select at least five customers/ debtors from each branch while picking the loans to be applied for refinancing. Nepal Rastra Bank has stated that the applications that do not follow the required process or aren&rsquo;t submitted within the deadline will not be accepted.</span></span></p>

<p><span style="font-size:20px"><span style="font-family:&quot;Times New Roman&quot;">According to Gunakar Bhatta, the spokesperson for Nepal Rastra Bank, the banks have to apply along with list of customers within the stipulated time in the Refinancing Work Procedure-2077. According to him, the application for refinancing was announced to the banks for the reduction of interest costs for those affected by COVID and for a speedy implementation of refinancing in the economy.</span></span></p>

<p><span style="font-size:20px"><span style="font-family:&quot;Times New Roman&quot;"><strong>Adding More Liquidity</strong></span></span></p>

<p><span style="font-size:20px"><span style="font-family:&quot;Times New Roman&quot;">The liquidity in the market will increase greatly once Nepal Rastra Bank provides banks with a lumpsum of refinancing amount. The market currently already has a excess liquidity of Rs 200 billion. Liquidity in banks will further increase when they will be provided with refinancing amount. The banks will have to provide the COVID-19 affected debtors the loan at 5 percent interest rate once they receive the refinancing amount from the central bank. </span></span></p>

<p><span style="font-size:20px"><span style="font-family:&quot;Times New Roman&quot;">NRB Spokesperson Bhatta said that the amount received for refinancing will provide an additional liquidity to the banks. &ldquo;There is no demand in the market even if the banks are able to use the refinancing fund. But their interest income will decrease. Debts are not flowing. Therefore, liquidity will increase in the market,&rdquo; he said. Banks do not seem excited about the refinancing because their liquidity will increase but their interest income will decrease when the refinancing fund is distributed. The interest income will decrease as they will only receive 5 percent interest rate when they used to receive 12 percent from the debtors.</span></span></p>

<p><span style="font-size:20px"><span style="font-family:&quot;Times New Roman&quot;">Ganesh Pokharel, the chief executive officer of Citizens Bank pointed out that the refinancing facility is a national agenda and that it should be made available soon to help the debtors affected by COVID-19 even though the liquidity in market will increase because of it.</span></span></p>

<p><span style="font-size:20px"><span style="font-family:&quot;Times New Roman&quot;">Saroj Tuladhar, the president of Nepal Financial Institutions&rsquo; Association said the finance companies have also started to collect data of the debtors. According to him, the list of the debtors will be prepared within 5-6 days. &ldquo;We will implement this as soon as the we get the approval after submitting it to Rastra Bank,&rdquo; he said. </span></span></p>

<p><span style="font-size:20px"><span style="font-family:&quot;Times New Roman&quot;">The period of the lumpsum refinancing will be a year at most and will not be renewed. However, the period of refinancing will be a year at most for debtors who are extremely affected by coronavirus, and six months for those who are mildly affected by coronavrius. Nepal Rastra Bank informed that this refinancing is renewable. The upper limit for such financing is Rs 50 million.&nbsp; Small, cottage, and micro enterprises refinancing and general refinancing debtors will receive the refinancing at 5 percent interest rate. Special refinancing will be provided to the debtors at 3 percent interest rate.</span></span></p>

<p><span style="font-size:20px"><span style="font-family:&quot;Times New Roman&quot;">The refinancing work procedure under the monetary policy of the current fiscal year will provide 70 percent of the refinancing fund through commercial banks, development banks and finance companies, and 10 percent through the microfinance companies. Nepal Rastra Bank will distribute 20 percent of the refinancing through their evaluation.</span></span></p>

<p>&nbsp;</p>

<p>&nbsp;</p>
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	(int) 12 => array(
		'Article' => array(
			'id' => '12354',
			'article_category_id' => '1',
			'title' => 'Nepali Importers Troubled by Additional Transportation Cost at ICP',
			'sub_title' => '',
			'summary' => 'August 20: Nepali importers have been burdened with additional transportation expenses at the Nepal-India Integrated Check Post (ICP) due to lack of their own warehouse at the newly built facility.',
			'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;">August 20: Nepali importers have been burdened with additional transportation expenses at the Nepal-India Integrated Check Post (ICP) due to lack of their own warehouse at the newly built facility.</span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;">The importers complain that they are forced to pay additional amount to transport the goods downloaded at Raxaul to the ICP. Earlier, they used to drop the goods at Birgunj- Raxaul border point but they now have to take the goods to the ICP for customs clearance. However, the transport companies do not have their own warehouse at the ICP neither do the importers. </span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;">The importers are facing problem due to the lack of warehouse. </span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;">Most of the import-export through Birgunj have to pass through the ICP. Only the petroleum products, clinker and coal enter the country through Inarwa transit point, says customs official Ramesh Sukmani. </span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;">Importer Suresh Rungata says that they are forced to load the goods that arrive at Raxaul and take them to the ICP. Most of the transport companies have ware house at Raxaul.</span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;">Birgunj is just one kilometer away from Raxaul but the ICP is 20 kilometers away. </span></span></span></span></p>
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	(int) 13 => array(
		'Article' => array(
			'id' => '12353',
			'article_category_id' => '1',
			'title' => 'FNCCI Given 3 Options for Election',
			'sub_title' => '',
			'summary' => 'August 20: A committee formed by the Federation of Nepalese Chambers of Commerce and Industry (FNCCI) has recommended three modalities for the election of the umbrella organisations of business entrepreneurs and industrialists of Nepal.  ',
			'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;">August 20: A committee formed by the Federation of Nepalese Chambers of Commerce and Industry (FNCCI) has recommended three modalities for the election of the umbrella organisations of business entrepreneurs and industrialists of Nepal. &nbsp;</span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;">The committee on Wednesday (August 19) provided its suggestions to the FNCCI, which has been struggling to hold its general convention amid crisis created by coronavirus pandemic.</span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;">One of the options given by the committee is to hold all three levels of election in the capital after the risk of coronavirus subsides. Other options include main election and election of associates in Kathmandu and the district/town election in the respective districts by maintaining physical distance while the third option is to hold election through electronic means. </span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;">The committee prepared the three modalities after consulting with the Ministry of Health and Population and the Covid-19 Crisis Management Centre (CCMC).</span></span></span></span></p>

<p><span 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;Now it is up to the executive committee of FNCCI to select the modality and date of election,&rdquo; said Ranjit Acharya, a member of FNCCI.</span></span></span></span></p>

<p><span 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 decision will be taken by the next meeting of executive committee,&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;">Although the FNCCI had fixed the date of its General Assembly to elect a new executive committee for April 10-11, the election could not be held due to the lockdown imposed by the government as well as the risk of coronavirus infection. The date of the General Assembly has been deferred time and again.</span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;">The FNCCI leadership is under pressure to hold the election as soon as possible. </span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;">The FNCCI members are divided over whether to hold the election after the risk of Covid-19 subsides or to go ahead for the polls by maintaining physical distancing.</span></span></span></span></p>
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	(int) 14 => array(
		'Article' => array(
			'id' => '12352',
			'article_category_id' => '1',
			'title' => 'Government Data show Improvement in Revenue Collection ',
			'sub_title' => '',
			'summary' => 'August 20: The government has made some progress in revenue collection, which was badly affected by the coronavirus pandemic since the last four months.',
			'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;">August 20: The government has made some progress in revenue collection, which was badly affected by the coronavirus pandemic since the last four months.</span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;">Officials say that the government is close to meeting its target of revenue collection after lifting the lockdown in third week of July. </span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;">According to the Financial Comptroller General&rsquo;s Office, the government collected revenue of Rs 58.81 billion in between mid-July and mid-August.</span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;">The data maintained by the office shows that the revenue collection was Rs 30 billion in the last week alone. </span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;">Officials at the Inland Revenue Department (IRD) said that the sudden increase in revenue collection toward the second week of August was due to the collection of VAT and excise duty, which were pending from the last fiscal year.</span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;">According to Deputy Director General of IRD Mukti Pandey, the department had set a target to collect Rs 35 billion in the review period. He said they managed to collect Rs 34.74 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;">IRD collected Rs 29.33 billion from VAT and income tax while the excise duty amount was Rs 5.41 billion. The department informed that excise duty declined last month because the liquor market as well as production was badly affected by 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;">However, revenue collection from customs duty increased during the review period. According to the director of the Customs Department Sishir Ghimire, revenue collection from customs point in mid-July to mid-August was Rs 22.84 billion, which is well above the target of Rs 19.81 billion.</span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;">According to him, the improvement in collection of customs duty was possible due to the increase in import of food products, clothes, petroleum products, machinery parts among others after the lockdown was lifted. </span></span></span></span></p>

<p>&nbsp;</p>
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	(int) 0 => array(
		'Article' => array(
			'id' => '12366',
			'article_category_id' => '1',
			'title' => 'Traders in Dilemma Regarding Import of Readymade Garments for Festive Season',
			'sub_title' => '',
			'summary' => 'August 24: Traders are in dilemma on whether or not to import readymade garments for the upcoming Dashain and Tihar festivals.',
			'content' => '<p><span style="font-size:18px"><span style="font-family:Calibri"><span style="font-family:&quot;Times New Roman&quot;">August 24: Traders are in dilemma on whether or not to import readymade garments for the upcoming Dashain and Tihar festivals. They are unable to decide because of the negative impact of the four-month-long lockdown on the businesses and the recent prohibitory order to control coronavirus infection. </span></span></span></p>

<p><span style="font-size:18px"><span style="font-family:Calibri"><span style="font-family:&quot;Times New Roman&quot;">In the previous years, traders used to import readymade garments worth Rs 300 billion from China and India targeting the festivals. They used to start preparations from mid-July for this. However, industries, businesses and public life have been halted this year due to coronavirus, creating confusion among the traders. Due to this, they estimate that there may be shortage of readymade garments in the market during this festive season. </span></span></span></p>

<p><span style="font-size:18px"><span style="font-family:Calibri"><span style="font-family:&quot;Times New Roman&quot;">According to the &nbsp;treasurer of New Road-based National Trade Association, Ram Chandra Parajuli, who has been involved in Nepal-China trade for a long time, the confusion has been created as around 500 containers of garments imported for the summer season have been stopped at Kerung border for the last six months. </span></span></span></p>

<p><span style="font-size:18px"><span style="font-family:Calibri"><span style="font-family:&quot;Times New Roman&quot;">&ldquo;Traders have invested millions of rupees for importing clothes for summer but the containers are stuck at the border. It is still uncertain when will the products arrive in the country,&rdquo; said Parajuli, adding, &ldquo;On top of that, there is high probability that the products will be worn out. In such a scenario how will we import clothes for the upcoming festival?&rdquo; </span></span></span></p>

<p><span style="font-size:18px"><span style="font-family:Calibri"><span style="font-family:&quot;Times New Roman&quot;">The trade of shoes, slippers, and clothes increases by 40 percent during the festive season than other times. However, this year, the traders are confused due to the pandemic. </span></span></span></p>

<p><span style="font-size:18px"><span style="font-family:Calibri"><span style="font-family:&quot;Times New Roman&quot;">Dil Sundar Shrestha, chairman of the Trade Fair Committee of FNCCI, said that even if the garments are imported, only 20 percent business can be done. </span></span></span></p>

<p><span style="font-size:18px"><span style="font-family:Calibri"><span style="font-family:&quot;Times New Roman&quot;">He further claimed that the business of garments will not increase during the upcoming festivals as people have lost their jobs and their source of income has been cut off due to the pandemic. </span></span></span></p>

<p>&nbsp;</p>
',
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			'created' => '2020-08-24',
			'modified' => '2020-08-24',
			'keywords' => '',
			'description' => '',
			'sortorder' => '12113',
			'image' => '20200824011858_1598216518.Clipboard06.jpg',
			'article_date' => '2020-08-24 13:18:16',
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	(int) 1 => array(
		'Article' => array(
			'id' => '12365',
			'article_category_id' => '1',
			'title' => 'Indian Workers Earn More in Nepal than Nepali Workers in India',
			'sub_title' => '',
			'summary' => 'August 24: There is a general understanding that Nepali migrant workers in India send large amount of money back home every year.',
			'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;">August 24: There is a general understanding that Nepali migrant workers in India send large amount of money back home every 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;">India has been a prime destination for Nepalese workers since a long time due to its close proximity, open border and similar culture. </span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;">In the mean time, Nepal is also a major labour destination for Indian workers. In fact, the salary that Indian labourers earn in Nepal and take back home is three times more than what the Nepali labourers earn in India.&nbsp; </span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;">According to the World Bank&rsquo;s Bilateral Remittance Matrix, Nepali workers in India had sent remittance worth Rs 102 billion in 2017 while the Indian workers sent home Rs 302 billion from Nepal in the same year. Nepal is one of the top ten destinations for India to earn remittance.</span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;">The remittance Nepal receives from Indian also includes the salary of 35,000 serving Gurkha soldiers and pensions of 180,000 retired soldiers, which amount to Rs 72.57 billion annually. If this amount is deducted from the total remittance, the amount sent by other Nepalis stands at around Rs 29 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;">Meanwhile, Nepal is a lucrative destination for Indian workers who are from the states that share border with Nepal. As the average income in Nepal is much better than that in India, the workers of India find the Nepali labour market quite attractive, according to the employers.</span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;">The number of Indian workers is quite considerable in the industrial corridor near the border areas. According to the Nepali industrialists, more than 1 million Indian workers are employed in Nepal. Lots of labourers from India are found working in brick kilns, jute mills and cement factories.</span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;">Besides industries, Indian workers are also employed by gold dealers of Nepal. According to the Federation of Nepal Gold and Silver Dealers Association, more than 75 percent of goldsmiths in Nepal are from India. They take home around Rs 20 billion each year, says Tej Ratna Shakya, former chairman of the federation. </span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;">Meanwhile, the government of Nepal does not have any data about the exact number of Indian migrant workers working in Nepal. As the Indians do not require work permit to work in Nepal, the government does not have the required data.</span></span></span></span></p>

<p><span 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;Although high ranking workers from India take work permit from the Government of Nepal to show the source of their income, there are only a handful of them. On the other hand, lots of Indians working at the lower level do not take any permission for work,&rdquo; says Sundar Shrestha, chief of the Birgunj office of Labour and Employment 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;">Government officials say it is not mandatory for Indian nationals to obtain work permit in Nepal as guaranteed by the &nbsp;Nepal-India Peace and Friendship Treaty 1950.</span></span></span></span></p>

<p>&nbsp;</p>

<p>&nbsp;</p>
',
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			'created' => '2020-08-24',
			'modified' => '2020-08-24',
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			'description' => '',
			'sortorder' => '12112',
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	(int) 2 => array(
		'Article' => array(
			'id' => '12364',
			'article_category_id' => '1',
			'title' => 'Government to Allow Air Service from September 1',
			'sub_title' => '',
			'summary' => 'August 23: The government has agreed to allow not more than 500 flights a day starting from September 1. ',
			'content' => '<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:Arial">August 23: The government has agreed to allow not more than 500 flights a day starting from September 1. </span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:Arial">The Council of Ministers has assigned the Ministry of Culture, Tourism and Civil Aviation to regulate flights amid risk of coronavirus pandemic.</span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:Arial">The cabinet has agreed to allow regular as well as chartered flights not exceeding 500 flights a day. However, international flights have been approved only for the countries where PCR tests are available. </span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:Arial">Nepali citizens stranded in Malaysia, the UAE (Dubai), South Korea, Thailand, Japan, China, Hong Kong, Australia, the USA, Canada and European countries will be allowed to return home through regular commercial flights once the restriction on air service comes to an end. </span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:Arial">However, people from countries where PRC tests are not available will have to return home through chartered flights under strict regulation.</span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:Arial">Government Spokesperson Dr Yuba Raj Khatiwada informed that the government will arrange chartered flights for the destinations where PCR tests are not available while the stranded Nepalis can return home upon the recommendation of the diplomatic missions of Nepal in the respective places.</span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:Arial">Those travelling to Nepal through regular flights will have to produce certificate of negative test for Covid-19. They will also have to fill up an online form available at the website of the Covid-19 Crisis Management&nbsp; Centre (CCMC) and print the barcode. Another precondition for the people coming to Nepal is that they will have to stay in hotel quarantine for seven days, for which they will have to show the hotel booking to the airport authorities. </span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:Arial">Afterwards, they will have to sign a written commitment to stay in home quarantine for 14 days. The local units will be responsible to monitor this.</span></span></span></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 travellers will have to pay the bill for booking hotel at the time of purchasing the air ticket. Only after fulfilling all the criteria, the passengers will be allowed to enter the country.</span></span></span></span></p>

<p>&nbsp;</p>

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

<p>&nbsp;</p>
',
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			'created' => '2020-08-23',
			'modified' => '2020-08-23',
			'keywords' => '',
			'description' => '',
			'sortorder' => '12111',
			'image' => '20200823062013_ra.jpg',
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	(int) 3 => array(
		'Article' => array(
			'id' => '12363',
			'article_category_id' => '1',
			'title' => 'Shortage and Price Hike of Sugar Likely during Upcoming Festive Season',
			'sub_title' => '',
			'summary' => 'August 23: With the festive season just around the cover, the market is likely to face shortage of sugar and a price hike.',
			'content' => '<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Bangla MN&quot;">August 23: With the festive season just around the cover, the market is likely to face shortage of sugar and a price hike.</span></span></span></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 domestic sugar industries have run out of stock while the government agencies responsible for the supply of sugar have given permission for limited amount of import this year. Because of these factors, the customers are likely to face shortage of sugar in the upcoming festivals of Dashain and Tihar.</span></span></span></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;">Usually, the demand for sugar during festive season is 70,000 metric tons. But the government this year has given permission to import only 30,000 metric tons of sugar. </span></span></span></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;">Salt Trading Corporation had sought permission for importing 50,000 metric tons of sugar considering the rise in demand during festive season.</span></span></span></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;">But it has been given permission to import 20,000 metric tons of sugar while the Food Management Company Limited has got permission to purchase 10,000 metric tons of sugar.</span></span></span></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;">Stakeholders say that failure to supply adequate amount of sugar as per the demand would result in price hike.</span></span></span></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;">Spokesperson of Salt Trading Corporation Kumar Rajbhandari says that the artificial shortage of sugar witnessed right now and the possible price hike could have been checked had the government given them permission to import 50,000 metric tons of sugar.</span></span></span></span></p>
',
			'published' => true,
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			'keywords' => '',
			'description' => '',
			'sortorder' => '12110',
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	(int) 4 => array(
		'Article' => array(
			'id' => '12362',
			'article_category_id' => '1',
			'title' => 'Tender for Track Bed of East-West Electric Railway to Proceed Ahead',
			'sub_title' => '',
			'summary' => 'August 23: The Department of Railways has informed that the construction work of the track bed of the Kakadvitta-Inaruwa section of the East-West Electric Railway will not be halted. ',
			'content' => '<p><span style="font-size:12pt"><span style="font-family:Cambria"><span style="font-size:14.0pt"><span style="font-family:Calibri">August 23: The Department of Railways has informed that the construction work of the track bed of the Kakadvitta-Inaruwa section of the East-West Electric Railway will not be halted. The project has courted controversy since the start of the tender process.</span></span></span></span></p>

<p><span style="font-size:12pt"><span style="font-family:Cambria"><span style="font-size:14.0pt"><span style="font-family:Calibri">Infrastructure experts have advised not to proceed with the project stating &nbsp;that basic preparations like land acquisition and site clearance have not been completed. However, the railway department informed that the project will move ahead regardless of any circumstances.</span></span></span></span></p>

<p><span style="font-size:12pt"><span style="font-family:Cambria"><span style="font-size:14.0pt"><span style="font-family:Calibri">Balaram Mishra, director general of the department, informed that no work would be stopped as the government, parliamentary committee and the high court have already ordered them to move ahead with the tender and other process of construction of the 106 km long track bed.</span></span></span></span></p>

<p><span style="font-size:12pt"><span style="font-family:Cambria"><span style="font-size:14.0pt"><span style="font-family:Calibri">&quot;The department has started the tender process following the government&rsquo;s approval,&quot; Mishra informed.</span></span></span></span></p>

<p><span style="font-size:12pt"><span style="font-family:Cambria"><span style="font-size:14.0pt"><span style="font-family:Calibri">He also claimed that there would be no problem in the construction of the section as the work was carried out after analyzing the legal issues and other basic aspects.</span></span></span></span></p>

<p><span style="font-size:12pt"><span style="font-family:Cambria"><span style="font-size:14.0pt"><span style="font-family:Calibri">The department, which had issued a tender of Rs 28 billion twice -- &nbsp;on June 28 and July 1 -- has now moved ahead with the tender evaluation following an interim order issued by the Patan High Court on August 10. The department has issued tenders for the section in 54 packages.</span></span></span></span></p>

<p>&nbsp;</p>
',
			'published' => true,
			'created' => '2020-08-23',
			'modified' => '2020-08-23',
			'keywords' => '',
			'description' => '',
			'sortorder' => '12109',
			'image' => '20200823052850_1598131355.Clipboard12.jpg',
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	(int) 5 => array(
		'Article' => array(
			'id' => '12361',
			'article_category_id' => '1',
			'title' => 'Lack of Coordination affects Daily Essential Services ',
			'sub_title' => '',
			'summary' => 'August 23: Majority of daily essential businesses and services in the valley have been affected due to the lack of coordination among the government agencies during the prohibitory order imposed since Thursday. ',
			'content' => '<p><span style="font-size:11pt"><span style="font-family:Calibri"><span style="font-size:12.0pt"><span style="font-family:&quot;Times New Roman&quot;">August 23: Majority of daily essential businesses and services in the valley have been affected due to the lack of coordination among the government agencies during the prohibitory order imposed since Thursday. </span></span></span></span></p>

<p><span style="font-size:11pt"><span style="font-family:Calibri"><span style="font-size:12.0pt"><span style="font-family:&quot;Times New Roman&quot;">Although the District Administration Office has allowed opening food and other necessary consumer goods shop, the business of consumer goods such as groceries, dairy, and meat have been affected as the traders could not go to their shop due to police barricade. </span></span></span></span></p>

<p><span style="font-size:11pt"><span style="font-family:Calibri"><span style="font-size:12.0pt"><span style="font-family:&quot;Times New Roman&quot;">Traders whose shops are distant from their home, complain that the police do not allow them to go to their shops. </span></span></span></span></p>

<p><span style="font-size:11pt"><span style="font-family:Calibri"><span style="font-size:12.0pt"><span style="font-family:&quot;Times New Roman&quot;">Former president of Nepal Retailers Association Pabitra Bajracharya, who stays in New Road, was stopped by the police on the way to his shop at Shwoyambhu. He was not allowed to go to the shop although his customers kept calling him to buy groceries such as rice, lentils, water, salt, sugar and oil. </span></span></span></span></p>

<p><span style="font-size:11pt"><span style="font-family:Calibri"><span style="font-size:12.0pt"><span style="font-family:&quot;Times New Roman&quot;">His shop is closed since Thursday. &quot;I am just an example. There are many traders like me who are deprived of opening their shops due to police obstruction,&quot; he told New Business Age. </span></span></span></span></p>

<p><span style="font-size:11pt"><span style="font-family:Calibri"><span style="font-size:12.0pt"><span style="font-family:&quot;Times New Roman&quot;">Although the DAO has issued a notice that grocery shops are allowed to operate, there has been problem as the timeframe has not been specified. Therefore, the police themselves are in dilemma. In most of the places of Kathmandu, the police have allowed to open shops from 5am to 7am. </span></span></span></span></p>
',
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			'created' => '2020-08-23',
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	(int) 6 => array(
		'Article' => array(
			'id' => '12360',
			'article_category_id' => '1',
			'title' => 'NRB tells Remittance Companies to Open Counters despite Prohibitory Order',
			'sub_title' => '',
			'summary' => 'August 23: Nepal Rastra Bank (NRB) has directed remittance companies to provide their service despite the prohibitory order of the government. ',
			'content' => '<p><span style="font-size:12pt"><span style="font-family:Cambria"><span style="font-size:14.0pt"><span style="font-family:Arial">August 23: Nepal Rastra Bank (NRB) has directed remittance companies to provide their service despite the prohibitory order of the government. The central bank issued such order considering that many households in Nepal are dependent on remittance for their livelihood.</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">NRB in a circular issued to the remittance companies has instructed them to provide their service by adopting necessary safety precaution. </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 instruction comes after the local governments in the Kathmandu Valley and some other infected districts imposed prohibitory orders to contain the spread of the disease.</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 central bank clarified that such instruction was given so that the people dependent on remittance would not have to suffer during the current crisis. </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">&ldquo;We have ordered the remittance companies not to compromise on their service so that the families relying on remittance would not face any problem. The remittance companies will have to facilitate in availing the money sent by Nepali migrant workers from abroad,&rdquo; said an official at the Foreign Exchange Management Department of NRB.</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 remittance companies have been urged to coordinate with the local units to keep their counters open for a limited period with minimum number of staffers.</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 central bank has also instructed the remittance companies to coordinate with BFIs for availing foreign exchange facility and to make payment of remittance through banks if possible.</span></span></span></span></p>

<p>&nbsp;</p>

<p>&nbsp;</p>

<p>&nbsp;</p>

<p>&nbsp;</p>
',
			'published' => true,
			'created' => '2020-08-23',
			'modified' => '2020-08-23',
			'keywords' => '',
			'description' => '',
			'sortorder' => '12107',
			'image' => '20200823044356_1598135999.1213.jpg',
			'article_date' => '2020-08-23 16:43:15',
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	(int) 7 => array(
		'Article' => array(
			'id' => '12358',
			'article_category_id' => '1',
			'title' => 'Electricity Tariff should be Collected by Ascertaining Amount of Electricity Consumption: CIAA ',
			'sub_title' => '',
			'summary' => 'August 21: The Commission for the Investigation of Abuse of Authority (CIAA) has said that the electricity tariff should be collected by ensuring the quantity of electricity consumed by the industries supplied through dedicated feeders and trunk lines before the end of load shedding.',
			'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;">August 21: The Commission for the Investigation of Abuse of Authority (CIAA) has said that the electricity tariff should be collected by ensuring the quantity of electricity consumed by the industries supplied through dedicated feeders and trunk lines before the end of load shedding. The CIAA has suggested that the data of Time of Day (TOD) meter should be primary basis for this. </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;">Sending a three-point letter to the Ministry of Energy, the Electricity Regulatory Commission and the Nepal Electricity Authority regarding the dedicated and trunk line tariff dispute, the authority has suggested not to impose additional burden on the industrialists in the name of tariff. </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 industrialists approached the CIAA after the cabinet endorsed a report on the dedicated and trunk line submitted by a high level committee coordinated by Secretary at the Ministry of Energy, Dinesh Ghimire. The authority had sent letter to these bodies last week on the basis of the request by the industrialists. </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 the letter, the authority should determine the electricity tariff only after ascertaining whether the electricity has been used for dedicated feeders and trunk lines after the load shedding ended. </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 authority has suggested taking the decision of the Supreme Court in the case of Shivam Cement as precedence for other industries as well. </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 court has directed the government not to charge Shivam Cement any tariff for dedicated and trunk line from mid July 2015 to January 13, 2016. </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;">Load shedding in the industrial sector had come to an end on May 14, 2018. However, the NEA has been sending dedicated and trunk line electricity tariff bills to the industries even after that. Since then, the dispute has become more complicated. </span></span></span></span></p>

<p>&nbsp;</p>
',
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			'created' => '2020-08-21',
			'modified' => '2020-08-21',
			'keywords' => '',
			'description' => '',
			'sortorder' => '12106',
			'image' => '20200821021554_1597957887.Clipboard07.jpg',
			'article_date' => '2020-08-21 14:09:21',
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	(int) 8 => array(
		'Article' => array(
			'id' => '12357',
			'article_category_id' => '1',
			'title' => 'Bank Account Mandatory for Receiving Social Security Allowance ',
			'sub_title' => '',
			'summary' => 'August 21: The government has made it mandatory for people receiving social security allowance to open bank accounts. ',
			'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;">August 21: The government has made it mandatory for people receiving social security allowance to open bank accounts. </span></span></span></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 Department of National ID and Civil Registration (DoNIDCR) has implemented this provision in line with the announcement made during the current fiscal year&rsquo;s budget, which mentions that all beneficiaries will have to open bank accounts from this year onward to receive the allowance.</span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:Arial">With this new provision, on the local units which do not have access to banking service will receive social security allowance in cash. All other local units will have to open bank accounts for the beneficiaries and deposit their allowance in bank.</span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:Arial">Senior citizens, single women, people from backward Dalit community, people from endangered groups, differently abled persons, widow among others have been receiving social security allowance ranging from Rs 400 to Rs 3000 per month. </span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:Arial">The government had proposed this concept five years ago but it not implemented all over the country. But the Director of DoNIDCR Shiva Raj Joshi says it has become mandatory in all local units except some exceptions from now onward.</span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:Arial">According to Joshi, the local units will not be allowed to hand over the allowance in cash anymore.</span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:Arial">So far, 137 local units have already started distributing social security allowance through the banking system.</span></span></span></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 department informed that altogether 3.2 million people receive social security allowance in Nepal.</span></span></span></span></p>

<p>&nbsp;</p>

<p>&nbsp;</p>
',
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			'created' => '2020-08-21',
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	(int) 9 => array(
		'Article' => array(
			'id' => '12356',
			'article_category_id' => '1',
			'title' => 'Dhaubadhi Mine Suitable for Commercial Production of Iron',
			'sub_title' => '',
			'summary' => 'August 21: Dhaubadhi Iron Company Limited has claimed that the iron extracted from Nawalpur-based Dhaubadhi mine is viable for commercial use.',
			'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;">August 21: Dhaubadhi Iron Company Limited has claimed that the iron extracted from Nawalpur-based Dhaubadhi mine is viable for commercial use.</span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;">Sources said that a study of samples from the mine has indicated the possibility of commercial production of iron from the mine in large scale. Concerned authorities had sent five tons of ore extracted from the mine for study in China last year. It has been learnt that the stakeholders in Nepal will receive the report from China within 20 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;">CEO of the company Krishna Dev Jha told New Business Age that they will now be able to extract iron from the mine for commercial production. He added that they will soon start necessary preparation for setting up the extraction technology, storage and certification works among others.</span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;">&ldquo;After going through the report, we can ascertain the quantity of per day extraction from the mine as well as investment requirement and cost estimates,&rdquo; said Jha.</span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;">The company has already initiated the process to select the consultant company for drilling the mine. </span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;">Jha said that they will select the consultant company within six weeks and the company will have to complete the drilling work in the next six months. The terms of reference (ToR) has been prepared accordingly, said Jha.</span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;">The company will then go ahead with the feasibility study, detailed engineering design, plant establishment among other works.</span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;">The company is preparing to drill 265 to 300 meters deep into the mine at five different areas of Dhaubadhi and Pokhari. The company clarified that it will begin the feasibility study only after completing the drilling process.</span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;">The company will look for investment partners once it starts the feasibility study.</span></span></span></span></p>

<p><span style="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 released Rs 250 million for the company during the last fiscal year whereas the budget allocated for the current fiscal year has been increased to Rs 1.5 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;">The public company with a capital of Rs 10 billion is being looked after by the central government.</span></span></span></span></p>

<p>&nbsp;</p>

<p>&nbsp;</p>
',
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	(int) 10 => array(
		'Article' => array(
			'id' => '12355',
			'article_category_id' => '1',
			'title' => 'Government to Resume Chartered Flights ',
			'sub_title' => '',
			'summary' => 'August 21: The government has decided to resume chartered flights to airlift its citizens stranded abroad due to Covid-19 pandemic.',
			'content' => '<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:Arial">August 21: The government has decided to resume chartered flights to airlift its citizens stranded abroad due to Covid-19 pandemic. A meeting of the Council of Ministers took a decision to this effect on Thursday (August 20).</span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:Arial">All rescued citizens will have to isolate themselves in hotels for at least a week after returning back to Nepal.</span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:Arial">The cabinet decided to resume its operation to rescue Nepali citizens stranded abroad upon the recommendation of the Covid-19 Crisis Management Centre (CCMC). </span></span></span></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 government will operate three chartered flights per day to rescue the stranded citizens.</span></span></span></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 latest decision is a U-turn from its decision taken just three days ago to ban all chartered flights after the capital recorded a massive surge in Covid-19 cases.</span></span></span></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 meeting also decided to facilitate the movement of diplomats stationed in Nepal. Another decision includes increasing quarantine facilities at the local levels. </span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:Arial">Similarly, the government has also decided to bear the expenses for the treatment of COVID-19 patients in private hospitals. The government&#39;s decision comes amid concerns that the government hospitals alone cannot provide treatment to all patients amid growing infection in the capital.</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">Nepali nationals returning from India via all 10 entry points will also have to isolate themselves for a week in the border areas. </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">Although most of the districts have enforced prohibitory order to crub the spread of infection, the cabinet meeting has decided not to restrict the transportation of raw materials required for industries and factories. </span></span></span></span></p>

<p>&nbsp;</p>
',
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			'description' => '',
			'sortorder' => '12103',
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	(int) 11 => array(
		'Article' => array(
			'id' => '12359',
			'article_category_id' => '1',
			'title' => 'NRB Preparing for Refinancing within 2 Months',
			'sub_title' => '',
			'summary' => 'August 21: Nepal Rastra Bank has notified businesses and industries that they will need to apply within 45 days to become a recipient of the refinancing facility, initiated to provide relief to the debtors affected by the coronavirus pandemic.',
			'content' => '<h1><span style="font-size:20px"><span style="font-family:&quot;Times New Roman&quot;">August 21: Nepal Rastra Bank has notified businesses and industries that they will need to apply within 45 days to become a recipient of the refinancing facility, initiated to provide relief to the debtors affected by the coronavirus pandemic. This process, however, will likely be affected due to the prohibitory order imposed in the various parts of the country. </span></span></h1>

<p><span style="font-size:20px"><span style="font-family:&quot;Times New Roman&quot;">Nepal Rastra Bank had recently demanded an application from banks and financial institutions (BFIs) along with a list of customers that require refinancing facility within 45 days. Nepal Rastra Bank has prepared to settle the issue of refinancing soon based on the list of customers that the commercial banks, development banks and finance companies submit. Preparations had been made to ensure the businesses got refinancing within two months.&nbsp; However, a prohibitory order has been imposed in various areas of the nation due to coronavirus pandemic. The time period for this order is different for different areas with chances of extension. Banks may need more time to prepare the list of debtors for refinancing if the period of the prohibitory order is extended. Only the necessary banking activities are in operation during this prohibitory period and it will also not be possible for the industrialists and businessmen to visit the banks in this situation.</span></span></p>

<p><span style="font-size:20px"><span style="font-family:&quot;Times New Roman&quot;">Chairman of the Nepal Bankers&#39; Association Bhuvan Kumar Dahal says that they could not start preparing for the application at this moment because of the prohibitory order issued by the government.</span></span></p>

<p><span style="font-size:20px"><span style="font-family:&quot;Times New Roman&quot;">&ldquo;We will provide refinancing facility to the clients affected by COVID as soon as Nepal Rastra Bank makes the Refinancing Fund available to us after our application,&rdquo; he said. Bankers stated that refinancing will be available within two months if the prohibitory order does not get prolonged.</span></span></p>

<p><span style="font-size:20px"><span style="font-family:&quot;Times New Roman&quot;">Nepal Rastra Bank has notified banks and financial institutions to apply for refinancing between August 17 to September 30. </span></span></p>

<p><span style="font-size:20px"><span style="font-family:&quot;Times New Roman&quot;">The banks will only be able to demand a maximum of 25 percent of their capital as the refinancing amount. The debtor must have at least a year left in their repayment period to be eligible for this. Debtors that have a loan from more than one bank will only be considered for one bank to avoid any repetitions. </span></span></p>

<p><span style="font-size:20px"><span style="font-family:&quot;Times New Roman&quot;">According to the NRB, the banks will have to demand at least 70 percent of the total amount applied for refinancing under the refinancing of small, cottage and micro enterprises. Banks will also have to select at least five customers/ debtors from each branch while picking the loans to be applied for refinancing. Nepal Rastra Bank has stated that the applications that do not follow the required process or aren&rsquo;t submitted within the deadline will not be accepted.</span></span></p>

<p><span style="font-size:20px"><span style="font-family:&quot;Times New Roman&quot;">According to Gunakar Bhatta, the spokesperson for Nepal Rastra Bank, the banks have to apply along with list of customers within the stipulated time in the Refinancing Work Procedure-2077. According to him, the application for refinancing was announced to the banks for the reduction of interest costs for those affected by COVID and for a speedy implementation of refinancing in the economy.</span></span></p>

<p><span style="font-size:20px"><span style="font-family:&quot;Times New Roman&quot;"><strong>Adding More Liquidity</strong></span></span></p>

<p><span style="font-size:20px"><span style="font-family:&quot;Times New Roman&quot;">The liquidity in the market will increase greatly once Nepal Rastra Bank provides banks with a lumpsum of refinancing amount. The market currently already has a excess liquidity of Rs 200 billion. Liquidity in banks will further increase when they will be provided with refinancing amount. The banks will have to provide the COVID-19 affected debtors the loan at 5 percent interest rate once they receive the refinancing amount from the central bank. </span></span></p>

<p><span style="font-size:20px"><span style="font-family:&quot;Times New Roman&quot;">NRB Spokesperson Bhatta said that the amount received for refinancing will provide an additional liquidity to the banks. &ldquo;There is no demand in the market even if the banks are able to use the refinancing fund. But their interest income will decrease. Debts are not flowing. Therefore, liquidity will increase in the market,&rdquo; he said. Banks do not seem excited about the refinancing because their liquidity will increase but their interest income will decrease when the refinancing fund is distributed. The interest income will decrease as they will only receive 5 percent interest rate when they used to receive 12 percent from the debtors.</span></span></p>

<p><span style="font-size:20px"><span style="font-family:&quot;Times New Roman&quot;">Ganesh Pokharel, the chief executive officer of Citizens Bank pointed out that the refinancing facility is a national agenda and that it should be made available soon to help the debtors affected by COVID-19 even though the liquidity in market will increase because of it.</span></span></p>

<p><span style="font-size:20px"><span style="font-family:&quot;Times New Roman&quot;">Saroj Tuladhar, the president of Nepal Financial Institutions&rsquo; Association said the finance companies have also started to collect data of the debtors. According to him, the list of the debtors will be prepared within 5-6 days. &ldquo;We will implement this as soon as the we get the approval after submitting it to Rastra Bank,&rdquo; he said. </span></span></p>

<p><span style="font-size:20px"><span style="font-family:&quot;Times New Roman&quot;">The period of the lumpsum refinancing will be a year at most and will not be renewed. However, the period of refinancing will be a year at most for debtors who are extremely affected by coronavirus, and six months for those who are mildly affected by coronavrius. Nepal Rastra Bank informed that this refinancing is renewable. The upper limit for such financing is Rs 50 million.&nbsp; Small, cottage, and micro enterprises refinancing and general refinancing debtors will receive the refinancing at 5 percent interest rate. Special refinancing will be provided to the debtors at 3 percent interest rate.</span></span></p>

<p><span style="font-size:20px"><span style="font-family:&quot;Times New Roman&quot;">The refinancing work procedure under the monetary policy of the current fiscal year will provide 70 percent of the refinancing fund through commercial banks, development banks and finance companies, and 10 percent through the microfinance companies. Nepal Rastra Bank will distribute 20 percent of the refinancing through their evaluation.</span></span></p>

<p>&nbsp;</p>

<p>&nbsp;</p>
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	(int) 12 => array(
		'Article' => array(
			'id' => '12354',
			'article_category_id' => '1',
			'title' => 'Nepali Importers Troubled by Additional Transportation Cost at ICP',
			'sub_title' => '',
			'summary' => 'August 20: Nepali importers have been burdened with additional transportation expenses at the Nepal-India Integrated Check Post (ICP) due to lack of their own warehouse at the newly built facility.',
			'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;">August 20: Nepali importers have been burdened with additional transportation expenses at the Nepal-India Integrated Check Post (ICP) due to lack of their own warehouse at the newly built facility.</span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;">The importers complain that they are forced to pay additional amount to transport the goods downloaded at Raxaul to the ICP. Earlier, they used to drop the goods at Birgunj- Raxaul border point but they now have to take the goods to the ICP for customs clearance. However, the transport companies do not have their own warehouse at the ICP neither do the importers. </span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;">The importers are facing problem due to the lack of warehouse. </span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;">Most of the import-export through Birgunj have to pass through the ICP. Only the petroleum products, clinker and coal enter the country through Inarwa transit point, says customs official Ramesh Sukmani. </span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;">Importer Suresh Rungata says that they are forced to load the goods that arrive at Raxaul and take them to the ICP. Most of the transport companies have ware house at Raxaul.</span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;">Birgunj is just one kilometer away from Raxaul but the ICP is 20 kilometers away. </span></span></span></span></p>
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	(int) 13 => array(
		'Article' => array(
			'id' => '12353',
			'article_category_id' => '1',
			'title' => 'FNCCI Given 3 Options for Election',
			'sub_title' => '',
			'summary' => 'August 20: A committee formed by the Federation of Nepalese Chambers of Commerce and Industry (FNCCI) has recommended three modalities for the election of the umbrella organisations of business entrepreneurs and industrialists of Nepal.  ',
			'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;">August 20: A committee formed by the Federation of Nepalese Chambers of Commerce and Industry (FNCCI) has recommended three modalities for the election of the umbrella organisations of business entrepreneurs and industrialists of Nepal. &nbsp;</span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;">The committee on Wednesday (August 19) provided its suggestions to the FNCCI, which has been struggling to hold its general convention amid crisis created by coronavirus pandemic.</span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;">One of the options given by the committee is to hold all three levels of election in the capital after the risk of coronavirus subsides. Other options include main election and election of associates in Kathmandu and the district/town election in the respective districts by maintaining physical distance while the third option is to hold election through electronic means. </span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;">The committee prepared the three modalities after consulting with the Ministry of Health and Population and the Covid-19 Crisis Management Centre (CCMC).</span></span></span></span></p>

<p><span 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;Now it is up to the executive committee of FNCCI to select the modality and date of election,&rdquo; said Ranjit Acharya, a member of FNCCI.</span></span></span></span></p>

<p><span 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 decision will be taken by the next meeting of executive committee,&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;">Although the FNCCI had fixed the date of its General Assembly to elect a new executive committee for April 10-11, the election could not be held due to the lockdown imposed by the government as well as the risk of coronavirus infection. The date of the General Assembly has been deferred time and again.</span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;">The FNCCI leadership is under pressure to hold the election as soon as possible. </span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;">The FNCCI members are divided over whether to hold the election after the risk of Covid-19 subsides or to go ahead for the polls by maintaining physical distancing.</span></span></span></span></p>
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		'Article' => array(
			'id' => '12352',
			'article_category_id' => '1',
			'title' => 'Government Data show Improvement in Revenue Collection ',
			'sub_title' => '',
			'summary' => 'August 20: The government has made some progress in revenue collection, which was badly affected by the coronavirus pandemic since the last four months.',
			'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;">August 20: The government has made some progress in revenue collection, which was badly affected by the coronavirus pandemic since the last four months.</span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;">Officials say that the government is close to meeting its target of revenue collection after lifting the lockdown in third week of July. </span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;">According to the Financial Comptroller General&rsquo;s Office, the government collected revenue of Rs 58.81 billion in between mid-July and mid-August.</span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;">The data maintained by the office shows that the revenue collection was Rs 30 billion in the last week alone. </span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;">Officials at the Inland Revenue Department (IRD) said that the sudden increase in revenue collection toward the second week of August was due to the collection of VAT and excise duty, which were pending from the last fiscal year.</span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;">According to Deputy Director General of IRD Mukti Pandey, the department had set a target to collect Rs 35 billion in the review period. He said they managed to collect Rs 34.74 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;">IRD collected Rs 29.33 billion from VAT and income tax while the excise duty amount was Rs 5.41 billion. The department informed that excise duty declined last month because the liquor market as well as production was badly affected by 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;">However, revenue collection from customs duty increased during the review period. According to the director of the Customs Department Sishir Ghimire, revenue collection from customs point in mid-July to mid-August was Rs 22.84 billion, which is well above the target of Rs 19.81 billion.</span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;">According to him, the improvement in collection of customs duty was possible due to the increase in import of food products, clothes, petroleum products, machinery parts among others after the lockdown was lifted. </span></span></span></span></p>

<p>&nbsp;</p>
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		'Article' => array(
			'id' => '12366',
			'article_category_id' => '1',
			'title' => 'Traders in Dilemma Regarding Import of Readymade Garments for Festive Season',
			'sub_title' => '',
			'summary' => 'August 24: Traders are in dilemma on whether or not to import readymade garments for the upcoming Dashain and Tihar festivals.',
			'content' => '<p><span style="font-size:18px"><span style="font-family:Calibri"><span style="font-family:&quot;Times New Roman&quot;">August 24: Traders are in dilemma on whether or not to import readymade garments for the upcoming Dashain and Tihar festivals. They are unable to decide because of the negative impact of the four-month-long lockdown on the businesses and the recent prohibitory order to control coronavirus infection. </span></span></span></p>

<p><span style="font-size:18px"><span style="font-family:Calibri"><span style="font-family:&quot;Times New Roman&quot;">In the previous years, traders used to import readymade garments worth Rs 300 billion from China and India targeting the festivals. They used to start preparations from mid-July for this. However, industries, businesses and public life have been halted this year due to coronavirus, creating confusion among the traders. Due to this, they estimate that there may be shortage of readymade garments in the market during this festive season. </span></span></span></p>

<p><span style="font-size:18px"><span style="font-family:Calibri"><span style="font-family:&quot;Times New Roman&quot;">According to the &nbsp;treasurer of New Road-based National Trade Association, Ram Chandra Parajuli, who has been involved in Nepal-China trade for a long time, the confusion has been created as around 500 containers of garments imported for the summer season have been stopped at Kerung border for the last six months. </span></span></span></p>

<p><span style="font-size:18px"><span style="font-family:Calibri"><span style="font-family:&quot;Times New Roman&quot;">&ldquo;Traders have invested millions of rupees for importing clothes for summer but the containers are stuck at the border. It is still uncertain when will the products arrive in the country,&rdquo; said Parajuli, adding, &ldquo;On top of that, there is high probability that the products will be worn out. In such a scenario how will we import clothes for the upcoming festival?&rdquo; </span></span></span></p>

<p><span style="font-size:18px"><span style="font-family:Calibri"><span style="font-family:&quot;Times New Roman&quot;">The trade of shoes, slippers, and clothes increases by 40 percent during the festive season than other times. However, this year, the traders are confused due to the pandemic. </span></span></span></p>

<p><span style="font-size:18px"><span style="font-family:Calibri"><span style="font-family:&quot;Times New Roman&quot;">Dil Sundar Shrestha, chairman of the Trade Fair Committee of FNCCI, said that even if the garments are imported, only 20 percent business can be done. </span></span></span></p>

<p><span style="font-size:18px"><span style="font-family:Calibri"><span style="font-family:&quot;Times New Roman&quot;">He further claimed that the business of garments will not increase during the upcoming festivals as people have lost their jobs and their source of income has been cut off due to the pandemic. </span></span></span></p>

<p>&nbsp;</p>
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		'Article' => array(
			'id' => '12365',
			'article_category_id' => '1',
			'title' => 'Indian Workers Earn More in Nepal than Nepali Workers in India',
			'sub_title' => '',
			'summary' => 'August 24: There is a general understanding that Nepali migrant workers in India send large amount of money back home every year.',
			'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;">August 24: There is a general understanding that Nepali migrant workers in India send large amount of money back home every 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;">India has been a prime destination for Nepalese workers since a long time due to its close proximity, open border and similar culture. </span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;">In the mean time, Nepal is also a major labour destination for Indian workers. In fact, the salary that Indian labourers earn in Nepal and take back home is three times more than what the Nepali labourers earn in India.&nbsp; </span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;">According to the World Bank&rsquo;s Bilateral Remittance Matrix, Nepali workers in India had sent remittance worth Rs 102 billion in 2017 while the Indian workers sent home Rs 302 billion from Nepal in the same year. Nepal is one of the top ten destinations for India to earn remittance.</span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;">The remittance Nepal receives from Indian also includes the salary of 35,000 serving Gurkha soldiers and pensions of 180,000 retired soldiers, which amount to Rs 72.57 billion annually. If this amount is deducted from the total remittance, the amount sent by other Nepalis stands at around Rs 29 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;">Meanwhile, Nepal is a lucrative destination for Indian workers who are from the states that share border with Nepal. As the average income in Nepal is much better than that in India, the workers of India find the Nepali labour market quite attractive, according to the employers.</span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;">The number of Indian workers is quite considerable in the industrial corridor near the border areas. According to the Nepali industrialists, more than 1 million Indian workers are employed in Nepal. Lots of labourers from India are found working in brick kilns, jute mills and cement factories.</span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;">Besides industries, Indian workers are also employed by gold dealers of Nepal. According to the Federation of Nepal Gold and Silver Dealers Association, more than 75 percent of goldsmiths in Nepal are from India. They take home around Rs 20 billion each year, says Tej Ratna Shakya, former chairman of the federation. </span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;">Meanwhile, the government of Nepal does not have any data about the exact number of Indian migrant workers working in Nepal. As the Indians do not require work permit to work in Nepal, the government does not have the required data.</span></span></span></span></p>

<p><span 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;Although high ranking workers from India take work permit from the Government of Nepal to show the source of their income, there are only a handful of them. On the other hand, lots of Indians working at the lower level do not take any permission for work,&rdquo; says Sundar Shrestha, chief of the Birgunj office of Labour and Employment 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;">Government officials say it is not mandatory for Indian nationals to obtain work permit in Nepal as guaranteed by the &nbsp;Nepal-India Peace and Friendship Treaty 1950.</span></span></span></span></p>

<p>&nbsp;</p>

<p>&nbsp;</p>
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		'Article' => array(
			'id' => '12364',
			'article_category_id' => '1',
			'title' => 'Government to Allow Air Service from September 1',
			'sub_title' => '',
			'summary' => 'August 23: The government has agreed to allow not more than 500 flights a day starting from September 1. ',
			'content' => '<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:Arial">August 23: The government has agreed to allow not more than 500 flights a day starting from September 1. </span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:Arial">The Council of Ministers has assigned the Ministry of Culture, Tourism and Civil Aviation to regulate flights amid risk of coronavirus pandemic.</span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:Arial">The cabinet has agreed to allow regular as well as chartered flights not exceeding 500 flights a day. However, international flights have been approved only for the countries where PCR tests are available. </span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:Arial">Nepali citizens stranded in Malaysia, the UAE (Dubai), South Korea, Thailand, Japan, China, Hong Kong, Australia, the USA, Canada and European countries will be allowed to return home through regular commercial flights once the restriction on air service comes to an end. </span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:Arial">However, people from countries where PRC tests are not available will have to return home through chartered flights under strict regulation.</span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:Arial">Government Spokesperson Dr Yuba Raj Khatiwada informed that the government will arrange chartered flights for the destinations where PCR tests are not available while the stranded Nepalis can return home upon the recommendation of the diplomatic missions of Nepal in the respective places.</span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:Arial">Those travelling to Nepal through regular flights will have to produce certificate of negative test for Covid-19. They will also have to fill up an online form available at the website of the Covid-19 Crisis Management&nbsp; Centre (CCMC) and print the barcode. Another precondition for the people coming to Nepal is that they will have to stay in hotel quarantine for seven days, for which they will have to show the hotel booking to the airport authorities. </span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:Arial">Afterwards, they will have to sign a written commitment to stay in home quarantine for 14 days. The local units will be responsible to monitor this.</span></span></span></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 travellers will have to pay the bill for booking hotel at the time of purchasing the air ticket. Only after fulfilling all the criteria, the passengers will be allowed to enter the country.</span></span></span></span></p>

<p>&nbsp;</p>

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

<p>&nbsp;</p>
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		'Article' => array(
			'id' => '12363',
			'article_category_id' => '1',
			'title' => 'Shortage and Price Hike of Sugar Likely during Upcoming Festive Season',
			'sub_title' => '',
			'summary' => 'August 23: With the festive season just around the cover, the market is likely to face shortage of sugar and a price hike.',
			'content' => '<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Bangla MN&quot;">August 23: With the festive season just around the cover, the market is likely to face shortage of sugar and a price hike.</span></span></span></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 domestic sugar industries have run out of stock while the government agencies responsible for the supply of sugar have given permission for limited amount of import this year. Because of these factors, the customers are likely to face shortage of sugar in the upcoming festivals of Dashain and Tihar.</span></span></span></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;">Usually, the demand for sugar during festive season is 70,000 metric tons. But the government this year has given permission to import only 30,000 metric tons of sugar. </span></span></span></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;">Salt Trading Corporation had sought permission for importing 50,000 metric tons of sugar considering the rise in demand during festive season.</span></span></span></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;">But it has been given permission to import 20,000 metric tons of sugar while the Food Management Company Limited has got permission to purchase 10,000 metric tons of sugar.</span></span></span></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;">Stakeholders say that failure to supply adequate amount of sugar as per the demand would result in price hike.</span></span></span></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;">Spokesperson of Salt Trading Corporation Kumar Rajbhandari says that the artificial shortage of sugar witnessed right now and the possible price hike could have been checked had the government given them permission to import 50,000 metric tons of sugar.</span></span></span></span></p>
',
			'published' => true,
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	(int) 4 => array(
		'Article' => array(
			'id' => '12362',
			'article_category_id' => '1',
			'title' => 'Tender for Track Bed of East-West Electric Railway to Proceed Ahead',
			'sub_title' => '',
			'summary' => 'August 23: The Department of Railways has informed that the construction work of the track bed of the Kakadvitta-Inaruwa section of the East-West Electric Railway will not be halted. ',
			'content' => '<p><span style="font-size:12pt"><span style="font-family:Cambria"><span style="font-size:14.0pt"><span style="font-family:Calibri">August 23: The Department of Railways has informed that the construction work of the track bed of the Kakadvitta-Inaruwa section of the East-West Electric Railway will not be halted. The project has courted controversy since the start of the tender process.</span></span></span></span></p>

<p><span style="font-size:12pt"><span style="font-family:Cambria"><span style="font-size:14.0pt"><span style="font-family:Calibri">Infrastructure experts have advised not to proceed with the project stating &nbsp;that basic preparations like land acquisition and site clearance have not been completed. However, the railway department informed that the project will move ahead regardless of any circumstances.</span></span></span></span></p>

<p><span style="font-size:12pt"><span style="font-family:Cambria"><span style="font-size:14.0pt"><span style="font-family:Calibri">Balaram Mishra, director general of the department, informed that no work would be stopped as the government, parliamentary committee and the high court have already ordered them to move ahead with the tender and other process of construction of the 106 km long track bed.</span></span></span></span></p>

<p><span style="font-size:12pt"><span style="font-family:Cambria"><span style="font-size:14.0pt"><span style="font-family:Calibri">&quot;The department has started the tender process following the government&rsquo;s approval,&quot; Mishra informed.</span></span></span></span></p>

<p><span style="font-size:12pt"><span style="font-family:Cambria"><span style="font-size:14.0pt"><span style="font-family:Calibri">He also claimed that there would be no problem in the construction of the section as the work was carried out after analyzing the legal issues and other basic aspects.</span></span></span></span></p>

<p><span style="font-size:12pt"><span style="font-family:Cambria"><span style="font-size:14.0pt"><span style="font-family:Calibri">The department, which had issued a tender of Rs 28 billion twice -- &nbsp;on June 28 and July 1 -- has now moved ahead with the tender evaluation following an interim order issued by the Patan High Court on August 10. The department has issued tenders for the section in 54 packages.</span></span></span></span></p>

<p>&nbsp;</p>
',
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			'keywords' => '',
			'description' => '',
			'sortorder' => '12109',
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	(int) 5 => array(
		'Article' => array(
			'id' => '12361',
			'article_category_id' => '1',
			'title' => 'Lack of Coordination affects Daily Essential Services ',
			'sub_title' => '',
			'summary' => 'August 23: Majority of daily essential businesses and services in the valley have been affected due to the lack of coordination among the government agencies during the prohibitory order imposed since Thursday. ',
			'content' => '<p><span style="font-size:11pt"><span style="font-family:Calibri"><span style="font-size:12.0pt"><span style="font-family:&quot;Times New Roman&quot;">August 23: Majority of daily essential businesses and services in the valley have been affected due to the lack of coordination among the government agencies during the prohibitory order imposed since Thursday. </span></span></span></span></p>

<p><span style="font-size:11pt"><span style="font-family:Calibri"><span style="font-size:12.0pt"><span style="font-family:&quot;Times New Roman&quot;">Although the District Administration Office has allowed opening food and other necessary consumer goods shop, the business of consumer goods such as groceries, dairy, and meat have been affected as the traders could not go to their shop due to police barricade. </span></span></span></span></p>

<p><span style="font-size:11pt"><span style="font-family:Calibri"><span style="font-size:12.0pt"><span style="font-family:&quot;Times New Roman&quot;">Traders whose shops are distant from their home, complain that the police do not allow them to go to their shops. </span></span></span></span></p>

<p><span style="font-size:11pt"><span style="font-family:Calibri"><span style="font-size:12.0pt"><span style="font-family:&quot;Times New Roman&quot;">Former president of Nepal Retailers Association Pabitra Bajracharya, who stays in New Road, was stopped by the police on the way to his shop at Shwoyambhu. He was not allowed to go to the shop although his customers kept calling him to buy groceries such as rice, lentils, water, salt, sugar and oil. </span></span></span></span></p>

<p><span style="font-size:11pt"><span style="font-family:Calibri"><span style="font-size:12.0pt"><span style="font-family:&quot;Times New Roman&quot;">His shop is closed since Thursday. &quot;I am just an example. There are many traders like me who are deprived of opening their shops due to police obstruction,&quot; he told New Business Age. </span></span></span></span></p>

<p><span style="font-size:11pt"><span style="font-family:Calibri"><span style="font-size:12.0pt"><span style="font-family:&quot;Times New Roman&quot;">Although the DAO has issued a notice that grocery shops are allowed to operate, there has been problem as the timeframe has not been specified. Therefore, the police themselves are in dilemma. In most of the places of Kathmandu, the police have allowed to open shops from 5am to 7am. </span></span></span></span></p>
',
			'published' => true,
			'created' => '2020-08-23',
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			'description' => '',
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	(int) 6 => array(
		'Article' => array(
			'id' => '12360',
			'article_category_id' => '1',
			'title' => 'NRB tells Remittance Companies to Open Counters despite Prohibitory Order',
			'sub_title' => '',
			'summary' => 'August 23: Nepal Rastra Bank (NRB) has directed remittance companies to provide their service despite the prohibitory order of the government. ',
			'content' => '<p><span style="font-size:12pt"><span style="font-family:Cambria"><span style="font-size:14.0pt"><span style="font-family:Arial">August 23: Nepal Rastra Bank (NRB) has directed remittance companies to provide their service despite the prohibitory order of the government. The central bank issued such order considering that many households in Nepal are dependent on remittance for their livelihood.</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">NRB in a circular issued to the remittance companies has instructed them to provide their service by adopting necessary safety precaution. </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 instruction comes after the local governments in the Kathmandu Valley and some other infected districts imposed prohibitory orders to contain the spread of the disease.</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 central bank clarified that such instruction was given so that the people dependent on remittance would not have to suffer during the current crisis. </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">&ldquo;We have ordered the remittance companies not to compromise on their service so that the families relying on remittance would not face any problem. The remittance companies will have to facilitate in availing the money sent by Nepali migrant workers from abroad,&rdquo; said an official at the Foreign Exchange Management Department of NRB.</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 remittance companies have been urged to coordinate with the local units to keep their counters open for a limited period with minimum number of staffers.</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 central bank has also instructed the remittance companies to coordinate with BFIs for availing foreign exchange facility and to make payment of remittance through banks if possible.</span></span></span></span></p>

<p>&nbsp;</p>

<p>&nbsp;</p>

<p>&nbsp;</p>

<p>&nbsp;</p>
',
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	(int) 7 => array(
		'Article' => array(
			'id' => '12358',
			'article_category_id' => '1',
			'title' => 'Electricity Tariff should be Collected by Ascertaining Amount of Electricity Consumption: CIAA ',
			'sub_title' => '',
			'summary' => 'August 21: The Commission for the Investigation of Abuse of Authority (CIAA) has said that the electricity tariff should be collected by ensuring the quantity of electricity consumed by the industries supplied through dedicated feeders and trunk lines before the end of load shedding.',
			'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;">August 21: The Commission for the Investigation of Abuse of Authority (CIAA) has said that the electricity tariff should be collected by ensuring the quantity of electricity consumed by the industries supplied through dedicated feeders and trunk lines before the end of load shedding. The CIAA has suggested that the data of Time of Day (TOD) meter should be primary basis for this. </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;">Sending a three-point letter to the Ministry of Energy, the Electricity Regulatory Commission and the Nepal Electricity Authority regarding the dedicated and trunk line tariff dispute, the authority has suggested not to impose additional burden on the industrialists in the name of tariff. </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 industrialists approached the CIAA after the cabinet endorsed a report on the dedicated and trunk line submitted by a high level committee coordinated by Secretary at the Ministry of Energy, Dinesh Ghimire. The authority had sent letter to these bodies last week on the basis of the request by the industrialists. </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 the letter, the authority should determine the electricity tariff only after ascertaining whether the electricity has been used for dedicated feeders and trunk lines after the load shedding ended. </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 authority has suggested taking the decision of the Supreme Court in the case of Shivam Cement as precedence for other industries as well. </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 court has directed the government not to charge Shivam Cement any tariff for dedicated and trunk line from mid July 2015 to January 13, 2016. </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;">Load shedding in the industrial sector had come to an end on May 14, 2018. However, the NEA has been sending dedicated and trunk line electricity tariff bills to the industries even after that. Since then, the dispute has become more complicated. </span></span></span></span></p>

<p>&nbsp;</p>
',
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	(int) 8 => array(
		'Article' => array(
			'id' => '12357',
			'article_category_id' => '1',
			'title' => 'Bank Account Mandatory for Receiving Social Security Allowance ',
			'sub_title' => '',
			'summary' => 'August 21: The government has made it mandatory for people receiving social security allowance to open bank accounts. ',
			'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;">August 21: The government has made it mandatory for people receiving social security allowance to open bank accounts. </span></span></span></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 Department of National ID and Civil Registration (DoNIDCR) has implemented this provision in line with the announcement made during the current fiscal year&rsquo;s budget, which mentions that all beneficiaries will have to open bank accounts from this year onward to receive the allowance.</span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:Arial">With this new provision, on the local units which do not have access to banking service will receive social security allowance in cash. All other local units will have to open bank accounts for the beneficiaries and deposit their allowance in bank.</span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:Arial">Senior citizens, single women, people from backward Dalit community, people from endangered groups, differently abled persons, widow among others have been receiving social security allowance ranging from Rs 400 to Rs 3000 per month. </span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:Arial">The government had proposed this concept five years ago but it not implemented all over the country. But the Director of DoNIDCR Shiva Raj Joshi says it has become mandatory in all local units except some exceptions from now onward.</span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:Arial">According to Joshi, the local units will not be allowed to hand over the allowance in cash anymore.</span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:Arial">So far, 137 local units have already started distributing social security allowance through the banking system.</span></span></span></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 department informed that altogether 3.2 million people receive social security allowance in Nepal.</span></span></span></span></p>

<p>&nbsp;</p>

<p>&nbsp;</p>
',
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	(int) 9 => array(
		'Article' => array(
			'id' => '12356',
			'article_category_id' => '1',
			'title' => 'Dhaubadhi Mine Suitable for Commercial Production of Iron',
			'sub_title' => '',
			'summary' => 'August 21: Dhaubadhi Iron Company Limited has claimed that the iron extracted from Nawalpur-based Dhaubadhi mine is viable for commercial use.',
			'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;">August 21: Dhaubadhi Iron Company Limited has claimed that the iron extracted from Nawalpur-based Dhaubadhi mine is viable for commercial use.</span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;">Sources said that a study of samples from the mine has indicated the possibility of commercial production of iron from the mine in large scale. Concerned authorities had sent five tons of ore extracted from the mine for study in China last year. It has been learnt that the stakeholders in Nepal will receive the report from China within 20 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;">CEO of the company Krishna Dev Jha told New Business Age that they will now be able to extract iron from the mine for commercial production. He added that they will soon start necessary preparation for setting up the extraction technology, storage and certification works among others.</span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;">&ldquo;After going through the report, we can ascertain the quantity of per day extraction from the mine as well as investment requirement and cost estimates,&rdquo; said Jha.</span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;">The company has already initiated the process to select the consultant company for drilling the mine. </span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;">Jha said that they will select the consultant company within six weeks and the company will have to complete the drilling work in the next six months. The terms of reference (ToR) has been prepared accordingly, said Jha.</span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;">The company will then go ahead with the feasibility study, detailed engineering design, plant establishment among other works.</span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;">The company is preparing to drill 265 to 300 meters deep into the mine at five different areas of Dhaubadhi and Pokhari. The company clarified that it will begin the feasibility study only after completing the drilling process.</span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;">The company will look for investment partners once it starts the feasibility study.</span></span></span></span></p>

<p><span style="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 released Rs 250 million for the company during the last fiscal year whereas the budget allocated for the current fiscal year has been increased to Rs 1.5 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;">The public company with a capital of Rs 10 billion is being looked after by the central government.</span></span></span></span></p>

<p>&nbsp;</p>

<p>&nbsp;</p>
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	(int) 10 => array(
		'Article' => array(
			'id' => '12355',
			'article_category_id' => '1',
			'title' => 'Government to Resume Chartered Flights ',
			'sub_title' => '',
			'summary' => 'August 21: The government has decided to resume chartered flights to airlift its citizens stranded abroad due to Covid-19 pandemic.',
			'content' => '<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:Arial">August 21: The government has decided to resume chartered flights to airlift its citizens stranded abroad due to Covid-19 pandemic. A meeting of the Council of Ministers took a decision to this effect on Thursday (August 20).</span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:Arial">All rescued citizens will have to isolate themselves in hotels for at least a week after returning back to Nepal.</span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:Arial">The cabinet decided to resume its operation to rescue Nepali citizens stranded abroad upon the recommendation of the Covid-19 Crisis Management Centre (CCMC). </span></span></span></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 government will operate three chartered flights per day to rescue the stranded citizens.</span></span></span></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 latest decision is a U-turn from its decision taken just three days ago to ban all chartered flights after the capital recorded a massive surge in Covid-19 cases.</span></span></span></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 meeting also decided to facilitate the movement of diplomats stationed in Nepal. Another decision includes increasing quarantine facilities at the local levels. </span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:Arial">Similarly, the government has also decided to bear the expenses for the treatment of COVID-19 patients in private hospitals. The government&#39;s decision comes amid concerns that the government hospitals alone cannot provide treatment to all patients amid growing infection in the capital.</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">Nepali nationals returning from India via all 10 entry points will also have to isolate themselves for a week in the border areas. </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">Although most of the districts have enforced prohibitory order to crub the spread of infection, the cabinet meeting has decided not to restrict the transportation of raw materials required for industries and factories. </span></span></span></span></p>

<p>&nbsp;</p>
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	(int) 11 => array(
		'Article' => array(
			'id' => '12359',
			'article_category_id' => '1',
			'title' => 'NRB Preparing for Refinancing within 2 Months',
			'sub_title' => '',
			'summary' => 'August 21: Nepal Rastra Bank has notified businesses and industries that they will need to apply within 45 days to become a recipient of the refinancing facility, initiated to provide relief to the debtors affected by the coronavirus pandemic.',
			'content' => '<h1><span style="font-size:20px"><span style="font-family:&quot;Times New Roman&quot;">August 21: Nepal Rastra Bank has notified businesses and industries that they will need to apply within 45 days to become a recipient of the refinancing facility, initiated to provide relief to the debtors affected by the coronavirus pandemic. This process, however, will likely be affected due to the prohibitory order imposed in the various parts of the country. </span></span></h1>

<p><span style="font-size:20px"><span style="font-family:&quot;Times New Roman&quot;">Nepal Rastra Bank had recently demanded an application from banks and financial institutions (BFIs) along with a list of customers that require refinancing facility within 45 days. Nepal Rastra Bank has prepared to settle the issue of refinancing soon based on the list of customers that the commercial banks, development banks and finance companies submit. Preparations had been made to ensure the businesses got refinancing within two months.&nbsp; However, a prohibitory order has been imposed in various areas of the nation due to coronavirus pandemic. The time period for this order is different for different areas with chances of extension. Banks may need more time to prepare the list of debtors for refinancing if the period of the prohibitory order is extended. Only the necessary banking activities are in operation during this prohibitory period and it will also not be possible for the industrialists and businessmen to visit the banks in this situation.</span></span></p>

<p><span style="font-size:20px"><span style="font-family:&quot;Times New Roman&quot;">Chairman of the Nepal Bankers&#39; Association Bhuvan Kumar Dahal says that they could not start preparing for the application at this moment because of the prohibitory order issued by the government.</span></span></p>

<p><span style="font-size:20px"><span style="font-family:&quot;Times New Roman&quot;">&ldquo;We will provide refinancing facility to the clients affected by COVID as soon as Nepal Rastra Bank makes the Refinancing Fund available to us after our application,&rdquo; he said. Bankers stated that refinancing will be available within two months if the prohibitory order does not get prolonged.</span></span></p>

<p><span style="font-size:20px"><span style="font-family:&quot;Times New Roman&quot;">Nepal Rastra Bank has notified banks and financial institutions to apply for refinancing between August 17 to September 30. </span></span></p>

<p><span style="font-size:20px"><span style="font-family:&quot;Times New Roman&quot;">The banks will only be able to demand a maximum of 25 percent of their capital as the refinancing amount. The debtor must have at least a year left in their repayment period to be eligible for this. Debtors that have a loan from more than one bank will only be considered for one bank to avoid any repetitions. </span></span></p>

<p><span style="font-size:20px"><span style="font-family:&quot;Times New Roman&quot;">According to the NRB, the banks will have to demand at least 70 percent of the total amount applied for refinancing under the refinancing of small, cottage and micro enterprises. Banks will also have to select at least five customers/ debtors from each branch while picking the loans to be applied for refinancing. Nepal Rastra Bank has stated that the applications that do not follow the required process or aren&rsquo;t submitted within the deadline will not be accepted.</span></span></p>

<p><span style="font-size:20px"><span style="font-family:&quot;Times New Roman&quot;">According to Gunakar Bhatta, the spokesperson for Nepal Rastra Bank, the banks have to apply along with list of customers within the stipulated time in the Refinancing Work Procedure-2077. According to him, the application for refinancing was announced to the banks for the reduction of interest costs for those affected by COVID and for a speedy implementation of refinancing in the economy.</span></span></p>

<p><span style="font-size:20px"><span style="font-family:&quot;Times New Roman&quot;"><strong>Adding More Liquidity</strong></span></span></p>

<p><span style="font-size:20px"><span style="font-family:&quot;Times New Roman&quot;">The liquidity in the market will increase greatly once Nepal Rastra Bank provides banks with a lumpsum of refinancing amount. The market currently already has a excess liquidity of Rs 200 billion. Liquidity in banks will further increase when they will be provided with refinancing amount. The banks will have to provide the COVID-19 affected debtors the loan at 5 percent interest rate once they receive the refinancing amount from the central bank. </span></span></p>

<p><span style="font-size:20px"><span style="font-family:&quot;Times New Roman&quot;">NRB Spokesperson Bhatta said that the amount received for refinancing will provide an additional liquidity to the banks. &ldquo;There is no demand in the market even if the banks are able to use the refinancing fund. But their interest income will decrease. Debts are not flowing. Therefore, liquidity will increase in the market,&rdquo; he said. Banks do not seem excited about the refinancing because their liquidity will increase but their interest income will decrease when the refinancing fund is distributed. The interest income will decrease as they will only receive 5 percent interest rate when they used to receive 12 percent from the debtors.</span></span></p>

<p><span style="font-size:20px"><span style="font-family:&quot;Times New Roman&quot;">Ganesh Pokharel, the chief executive officer of Citizens Bank pointed out that the refinancing facility is a national agenda and that it should be made available soon to help the debtors affected by COVID-19 even though the liquidity in market will increase because of it.</span></span></p>

<p><span style="font-size:20px"><span style="font-family:&quot;Times New Roman&quot;">Saroj Tuladhar, the president of Nepal Financial Institutions&rsquo; Association said the finance companies have also started to collect data of the debtors. According to him, the list of the debtors will be prepared within 5-6 days. &ldquo;We will implement this as soon as the we get the approval after submitting it to Rastra Bank,&rdquo; he said. </span></span></p>

<p><span style="font-size:20px"><span style="font-family:&quot;Times New Roman&quot;">The period of the lumpsum refinancing will be a year at most and will not be renewed. However, the period of refinancing will be a year at most for debtors who are extremely affected by coronavirus, and six months for those who are mildly affected by coronavrius. Nepal Rastra Bank informed that this refinancing is renewable. The upper limit for such financing is Rs 50 million.&nbsp; Small, cottage, and micro enterprises refinancing and general refinancing debtors will receive the refinancing at 5 percent interest rate. Special refinancing will be provided to the debtors at 3 percent interest rate.</span></span></p>

<p><span style="font-size:20px"><span style="font-family:&quot;Times New Roman&quot;">The refinancing work procedure under the monetary policy of the current fiscal year will provide 70 percent of the refinancing fund through commercial banks, development banks and finance companies, and 10 percent through the microfinance companies. Nepal Rastra Bank will distribute 20 percent of the refinancing through their evaluation.</span></span></p>

<p>&nbsp;</p>

<p>&nbsp;</p>
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	(int) 12 => array(
		'Article' => array(
			'id' => '12354',
			'article_category_id' => '1',
			'title' => 'Nepali Importers Troubled by Additional Transportation Cost at ICP',
			'sub_title' => '',
			'summary' => 'August 20: Nepali importers have been burdened with additional transportation expenses at the Nepal-India Integrated Check Post (ICP) due to lack of their own warehouse at the newly built facility.',
			'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;">August 20: Nepali importers have been burdened with additional transportation expenses at the Nepal-India Integrated Check Post (ICP) due to lack of their own warehouse at the newly built facility.</span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;">The importers complain that they are forced to pay additional amount to transport the goods downloaded at Raxaul to the ICP. Earlier, they used to drop the goods at Birgunj- Raxaul border point but they now have to take the goods to the ICP for customs clearance. However, the transport companies do not have their own warehouse at the ICP neither do the importers. </span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;">The importers are facing problem due to the lack of warehouse. </span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;">Most of the import-export through Birgunj have to pass through the ICP. Only the petroleum products, clinker and coal enter the country through Inarwa transit point, says customs official Ramesh Sukmani. </span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;">Importer Suresh Rungata says that they are forced to load the goods that arrive at Raxaul and take them to the ICP. Most of the transport companies have ware house at Raxaul.</span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;">Birgunj is just one kilometer away from Raxaul but the ICP is 20 kilometers away. </span></span></span></span></p>
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	(int) 13 => array(
		'Article' => array(
			'id' => '12353',
			'article_category_id' => '1',
			'title' => 'FNCCI Given 3 Options for Election',
			'sub_title' => '',
			'summary' => 'August 20: A committee formed by the Federation of Nepalese Chambers of Commerce and Industry (FNCCI) has recommended three modalities for the election of the umbrella organisations of business entrepreneurs and industrialists of Nepal.  ',
			'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;">August 20: A committee formed by the Federation of Nepalese Chambers of Commerce and Industry (FNCCI) has recommended three modalities for the election of the umbrella organisations of business entrepreneurs and industrialists of Nepal. &nbsp;</span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;">The committee on Wednesday (August 19) provided its suggestions to the FNCCI, which has been struggling to hold its general convention amid crisis created by coronavirus pandemic.</span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;">One of the options given by the committee is to hold all three levels of election in the capital after the risk of coronavirus subsides. Other options include main election and election of associates in Kathmandu and the district/town election in the respective districts by maintaining physical distance while the third option is to hold election through electronic means. </span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;">The committee prepared the three modalities after consulting with the Ministry of Health and Population and the Covid-19 Crisis Management Centre (CCMC).</span></span></span></span></p>

<p><span 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;Now it is up to the executive committee of FNCCI to select the modality and date of election,&rdquo; said Ranjit Acharya, a member of FNCCI.</span></span></span></span></p>

<p><span 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 decision will be taken by the next meeting of executive committee,&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;">Although the FNCCI had fixed the date of its General Assembly to elect a new executive committee for April 10-11, the election could not be held due to the lockdown imposed by the government as well as the risk of coronavirus infection. The date of the General Assembly has been deferred time and again.</span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;">The FNCCI leadership is under pressure to hold the election as soon as possible. </span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;">The FNCCI members are divided over whether to hold the election after the risk of Covid-19 subsides or to go ahead for the polls by maintaining physical distancing.</span></span></span></span></p>
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	(int) 14 => array(
		'Article' => array(
			'id' => '12352',
			'article_category_id' => '1',
			'title' => 'Government Data show Improvement in Revenue Collection ',
			'sub_title' => '',
			'summary' => 'August 20: The government has made some progress in revenue collection, which was badly affected by the coronavirus pandemic since the last four months.',
			'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;">August 20: The government has made some progress in revenue collection, which was badly affected by the coronavirus pandemic since the last four months.</span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;">Officials say that the government is close to meeting its target of revenue collection after lifting the lockdown in third week of July. </span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;">According to the Financial Comptroller General&rsquo;s Office, the government collected revenue of Rs 58.81 billion in between mid-July and mid-August.</span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;">The data maintained by the office shows that the revenue collection was Rs 30 billion in the last week alone. </span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;">Officials at the Inland Revenue Department (IRD) said that the sudden increase in revenue collection toward the second week of August was due to the collection of VAT and excise duty, which were pending from the last fiscal year.</span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;">According to Deputy Director General of IRD Mukti Pandey, the department had set a target to collect Rs 35 billion in the review period. He said they managed to collect Rs 34.74 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;">IRD collected Rs 29.33 billion from VAT and income tax while the excise duty amount was Rs 5.41 billion. The department informed that excise duty declined last month because the liquor market as well as production was badly affected by 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;">However, revenue collection from customs duty increased during the review period. According to the director of the Customs Department Sishir Ghimire, revenue collection from customs point in mid-July to mid-August was Rs 22.84 billion, which is well above the target of Rs 19.81 billion.</span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;">According to him, the improvement in collection of customs duty was possible due to the increase in import of food products, clothes, petroleum products, machinery parts among others after the lockdown was lifted. </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