Internal Dispute of Sunrise Bank resolved

Jul 31, 2020 0 1 minutes 59 seconds to read

July 31: The dispute between the board of directors of Sunrise Bank and the CEO has been resolved for the time being.…

Government to Seek Financial Assistance from ADB to Mitigate the Risks of Floods and Landslides

Jul 31, 2020 0 1 minutes 36 seconds to read

July 31: The government has decided to seek financial assistance of US$ 50 million (Rs 6 billion) from the Asian Development Bank (ADB) to mitigate the risks of floods and…

NAC Permanently Grounds Chinese Aircraft

Jul 31, 2020 0 3 minutes 17 seconds to read

July 31: Nepal Airlines Corporation (NSC) has formally stopped the operation of Chinese aircraft for domestic flights from Thursday (July…

Importers doubt Effectiveness of Electronic Cargo Tracking System

Jul 31, 2020 0 2 minutes 11 seconds to read

July 31: Nepali importers have suggested that the Electronic Cargo Tracking System (ECTS) being used for transshipment of goods via India is not necessary along the railway…

Import of Gold Lowest in 5 Years

Jul 30, 2020 0 2 minutes 55 seconds to read

July 30: The lockdown imposed by the government to contain the spread of coronavirus and the increase in price of gold in the international market led to a drastic fall in import of the precious yellow metal during the last fiscal…

University of Arizona Offers Online Degree in Collaboration with Partner in Nepal

Jul 30, 2020 0 2 minutes 52 seconds to read

…

Shareholders Worried by Closure of Sri Ram Sugar Mill

Jul 30, 2020 0 3 minutes 27 seconds to read

July 30: With the announcement of the closure of Shri Ram Sugar Mills, shareholders of the company are worried about losing their…

Hotel Industry Formally Resumes Service

Jul 30, 2020 0 1 minutes 26 seconds to read

July 30: Hotels and restaurants have formally reopened from today after the government lifted a ban on operating hotel industry effective from July 30.…

Extreme Shortage of Urea across the Country

Jul 30, 2020 0 1 minutes 40 seconds to read

July 30: Framers across Nepal are facing an acute shortage of urea fertilizer as 21,500 metric tons of the fertilizer is currently stuck at Kandla port in Gujarat,…

Most of the Donor Agencies yet to Respond to Government’s Request for Moratorium Period

Jul 30, 2020 0 3 minutes 2 seconds to read

July 30: The government has requested donor agencies for moratorium period due to its inability repay loan because of coronavirus pandemic but most of the donor agencies have not taken any decision in granting this facility to…

Contempt of Court Case Filed against Food Technology Department

Jul 29, 2020 0 2 minutes 7 seconds to read

July 29: The Supreme Court has issued a show cause notice to the Food Technology and Quality Control Department (FTQCD) for not letting a company import peas into…

Construction of Pokhara Airport Resumes in Full Fledge

Jul 29, 2020 0 2 minutes 53 seconds to read

July 29: The construction of Pokhara Regional Airport, which was affected by the lockdown imposed to curb coronavirus, has now gained momentum once…

Transport Entrepreneurs Preparing to Reduce Number of Vehicles

Jul 29, 2020 0 2 minutes 43 seconds to read

July 29: Private transport companies that have been operating public vehicles since mid-July are preparing to reduce the number of vehicles due to lack of passengers.…

Payment of Workers During Lockdown Sorted Out

Jul 29, 2020 0 2 minutes 49 seconds to read

July 29: The issue of workers’ payment by industries during the lockdown period has finally been sorted out after four months.…

Over 100 Local Units yet to Present Budget for Current Fiscal Year

Jul 29, 2020 0 1 minutes 40 seconds to read

July 29: A total of 182 local units have failed to present their budget for the current fiscal year to the village…

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No Laughing Matter

The Sweet Rewards of Power

By Madan Lamsal

. . .
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NEPSE

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			'title' => 'Internal Dispute of Sunrise Bank resolved',
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			'content' => '<p><span style="font-size:12pt"><span style="font-family:Cambria"><span style="font-size:14.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;">July 31: The dispute between the board of directors of Sunrise Bank and the CEO has been resolved for the time being. </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:&quot;Arial Unicode MS&quot;">The dispute had taken unexpected turns after the board allegedly demanded resignation of CEO Janak Sharma Poudel. However, the misunderstanding has been resolved after both sides reached an understanding on Thursday (July 30) to move ahead hand in hand.</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:&quot;Arial Unicode MS&quot;">A board meeting on Thursday decided to take future course of action on mutual understanding. Company Secretary of Sunrise Bank, Ishwar Pokharel, informed that the board meeting took a decision for the welfare of all stakeholders. </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:&quot;Arial Unicode MS&quot;">&ldquo;We have resolved the issue by taking all sides into confidence. Both sides have decided to work together for the welfare of the organisation,&rdquo; said Pathak, adding that the board had sought clarification from CEO Poudel instead of resignation.</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:&quot;Arial Unicode MS&quot;">&ldquo;The board and the CEO have agreed to collaborate to take the bank to new heights,&rdquo; said Pathak.</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:&quot;Arial Unicode MS&quot;">Nepal Rastra Bank had called both sides for discussion recently after the dispute grew out of proportion. The central bank had suggested the board members of the bank to sort out the issue through mutual understanding. An informed source told New Business Age that the board members of the bank decided to collaborate with the CEO fearing intervention by the central bank.</span></span></span></span></p>

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

<p>&nbsp;</p>

<p>&nbsp;</p>

<p>&nbsp;</p>
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			'title' => 'Government to Seek Financial Assistance from ADB to Mitigate the Risks of Floods and Landslides',
			'sub_title' => '',
			'summary' => 'July 31: The government has decided to seek financial assistance of US$ 50 million (Rs 6 billion) from the Asian Development Bank (ADB) to mitigate the risks of floods and landslides.',
			'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;">July 31: The government has decided to seek financial assistance of US$ 50 million (Rs 6 billion) from the Asian Development Bank (ADB) to mitigate the risks of floods and landslides.</span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;">A meeting of the Council of Ministers has decided to form a talks team headed by joint secretary at the International Financial Assistance Coordination Division for this purpose. </span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;">Minister for Communication and Information Technology Dr Yuba Raj Khatiwada confirmed that the government has formed the team to prepare a work plan for seeking assistance from ADB.</span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;">Minister Khatiwada said that government will seek both loan and grant assistance from ADB.</span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;">Likewise, the government has decided to give 50 percent concession on customs duty to the Food Management and Trade Company Limited and the Salt Trading Limited to import a total of 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;Arial Unicode MS&quot;">The cabinet meeting also decided to take necessary steps to resume schools and educational institutes that have remained closed due to the coronavirus pandemic and the subsequent lockdown.</span></span></span></span></p>

<p>&nbsp;</p>
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			'id' => '12257',
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			'title' => 'NAC Permanently Grounds Chinese Aircraft',
			'sub_title' => '',
			'summary' => 'July 31: Nepal Airlines Corporation (NSC) has formally stopped the operation of Chinese aircraft for domestic flights from Thursday (July 30).',
			'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;">July 31: Nepal Airlines Corporation (NSC) has formally stopped the operation of Chinese aircraft for domestic flights from Thursday (July 30).</span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;">Due to its failure to operate the six Chinese aircraft due to high cost and maintenance as well as other factors, a board meeting of the state-owned airline company had earlier decided to permanently ground the aircraft effective from July 30.</span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;">The NAC board has been heavily criticized for purchasing the aircraft under political pressure without conducting proper assessment.</span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;">NAC&rsquo;s stake in the domestic market is currently 3 percent, which is expected to shrink further after grounding the China-made aircraft.</span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;">The government has already decided to resume domestic and international flights from August 17. But the state-owned company now doesn&rsquo;t have adequate aircraft for domestic flights.</span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;">After grounding the six aircraft, NAC now has just three Twin Otters left in its fleet for internal flights. One of them is currently being repaired to the NAC is in a position to operate only two aircraft at the moment.</span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;">NAC Spokesperson Archana Khadka informed that the flag carrier of Nepal will use these two aircraft for domestic flights for the time being.</span></span></span></span></p>

<p><span 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;NAC has formally decided to ground all the Chinese aircraft for domestic flights. Now we will utilize the Twin Otters for domestic flight,&rdquo; said Khadka.</span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;">NAC stated that the Twin Otters with seat capacity of 17 to 19 passengers will provide service to remote areas of the country. However, NAC will not be operating any flights in the main trunk routes with high number of passengers. NAC had been operating the Chinese aircraft in trunk routes like Bhairahawa, Pokhara, Nepalgunj, Dhangadhi, Simara, Biratnagar and Chandragadhi.</span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;">Private companies have been dominating the domestic flight service in the country. Buddha Air, Yeti Airlines and Shree Airlines have strong hold in the domestic flight routes. </span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;">NAC Spokesperson Khadka informed that the company is discussing about procuring new aircraft after it sells off the Chinese planes.</span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;">NAC had to face losses worth Rs 2.3 billion while operating the&nbsp; Chinese aircraft during the last five years.</span></span></span></span></p>

<p>&nbsp;</p>
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			'id' => '12259',
			'article_category_id' => '1',
			'title' => 'Importers doubt Effectiveness of Electronic Cargo Tracking System',
			'sub_title' => '',
			'summary' => 'July 31: Nepali importers have suggested that the Electronic Cargo Tracking System (ECTS) being used for transshipment of goods via India is not necessary along the railway route.',
			'content' => '<p><span style="font-size:12pt"><span style="font-family:Cambria"><span style="font-size:14.0pt"><span style="font-family:Calibri">July 31: Nepali importers have suggested that the Electronic Cargo Tracking System (ECTS) being used for transshipment of goods via India is not necessary along the railway route.</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">They also complained that the effectiveness of ECTS, that has been implemented on transshipments of goods imported from Kolkata Port in India, has not been reviewed till date.&nbsp;&nbsp;&nbsp;&nbsp; </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 Ministry of Industry, Commerce and Supplies itself is unclear about the impact of the ECTS even after a year and a half since it came into operation. The ministry earlier had been informed to review the impact of ECTS on transshipment of goods within the first three month of its introduction.</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">ECTS was implemented as a pilot project to facilitate the transshipment of goods for overseas trade at the seaports of India.</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">However, the importers claim additional ECTS is unnecessary along the railway route as it is already being used on containers transported by the trains.</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">At present, a tracking device based on GPS is connected to the container coming from Kolkata port till Birgunj dry port.</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">This system was adopted from February 15, 2019 to remove the paperwork at Kolkata Port.</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 ECTS was implemented to ensure that containers coming from third countries were not misused in India.</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">Even though it is said that the container can be monitored through this device, the service provider has not provided tracking facility to most of the concerned importers.</span></span></span></span></p>

<p>&nbsp;</p>
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			'id' => '12256',
			'article_category_id' => '1',
			'title' => 'Import of Gold Lowest in 5 Years',
			'sub_title' => '',
			'summary' => 'July 30: The lockdown imposed by the government to contain the spread of coronavirus and the increase in price of gold in the international market led to a drastic fall in import of the precious yellow metal during the last fiscal year.',
			'content' => '<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;">July 30: The lockdown imposed by the government to contain the spread of coronavirus and the increase in price of gold in the international market led to a drastic fall in import of the precious yellow metal during 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 the data maintained by the Department of Customs, the import of gold in FY 2019/20 was the lowest in the last five years. During the review period, Nepal imported gold worth Rs 13.46 billion, which is 61.11 percent less than the import in the previous fiscal year (2018/19) when the country imported gold worth Rs 34.61 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;">Five years ago, the import of gold was worth Rs 16.7 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;">In the recent years, Nepal had been importing gold worth Rs 30 billion in average every year. But this year, the import of gold declined to a great extent.</span></span></span></span></p>

<p><span 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 terms of quantity, the import of gold declined by 68 percent in the review period compared to the previous fiscal year. In FY 2019/20, Nepal imported 7492 kg of gold while the import in FY 2018/19 was 1400 kg.</span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;">The country didn&rsquo;t import any gold after the government imposed lockdown on March 24. Executive Director of Nepal Banker&rsquo;s Association Anil Sharma told New Business Age that the country hasn&rsquo;t imported gold after the lockdown was imposed. Banks have stock of 330 kg gold which was imported before the lockdown period. The banks have been supplying gold to the market as per the demand.</span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;">&ldquo;Dealers have stopped buying gold due to the increase in price,&rdquo; said Sharma, adding that hardly 1 kg of gold gets sold in a day.</span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;">He said that the banks will not import any additional gold until the stock is cleared.</span></span></span></span></p>

<p>&nbsp;</p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;">The price of gold was Rs 60,000 per tola (11 grams approximately) by mid-July 2019. The price has increased to almost Rs 100,000 in about a year. Due to the increase in price of gold, the trade has slumped a lot. Gold dealers themselves have reportedly urged bankers not to import any more gold.</span></span></span></span></p>

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

<p>&nbsp;</p>
',
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			'title' => 'University of Arizona Offers Online Degree in Collaboration with Partner in Nepal',
			'sub_title' => '',
			'summary' => '',
			'content' => '<p><span style="font-size:20px"><span style="font-family:Arial">July 30: USA-based University of Arizona and rem.work, Kathmandu have announced a coworking space partnership for the concept of &ldquo;Global Campus&rdquo; to help students start or continue a US degree without leaving their home country. </span></span></p>

<p><span style="font-size:20px"><span style="font-family:Arial">A joint statement issued by the two organisation states that rem.work, a leading coworking space provider in Nepal, has created &ldquo;flexible and affordable options&rdquo; with the University of Arizona to allow students to earn a full US degree or US transfer credits. </span></span></p>

<p><span style="font-size:20px"><span style="font-family:Arial">&ldquo;Not only does Global Campus help solve the mobility challenges of today caused by COVID-19, it is a meaningful and long-term effort at meeting the UN Sustainable Development Goal of providing accessible quality education to the world,&rdquo; the statement quoted President of the University of Arizona Robert C Robbins as saying.</span></span></p>

<p><span style="font-size:20px"><span style="font-family:Arial">As universities have increasingly pivoted to offer online learning modalities, coworking spaces have become a pioneering point of access for University of Arizona&rsquo;s global campus degree programs. </span></span></p>

<p><span style="font-size:20px"><span style="font-family:Arial">Enrolling in the University of Arizona through a coworking partner is attractive to mid-career and working professionals looking to up-skill, re-skill, or start a master&rsquo;s program in a safe and professional setting, with access to reliable internet and leading-edge amenities, the statement&nbsp; further said. </span></span></p>

<p><span style="font-size:20px"><span style="font-family:Arial">&ldquo;With a substantial scholarship in place for students in Nepal, this is one of the most flexible and affordable ways to get a fully-accredited U.S. degree from a high-ranking U.S. university, without leaving the country. Tuition covers online classes taught by top-notch Arizona faculty, as well as full access to all current and future rem.work facilities in Nepal,&rdquo; the statement added.</span></span></p>

<p><img alt="" src="/app/webroot/userfiles/images/Global-Campus-TWITTER-15-1.png" style="height:409px; width:545px" /></p>

<p><span style="font-size:20px"><span style="font-family:Arial">According to the statement, the website of the University of Arizona (<a href="https://everywhere.arizona.edu/">everywhere.arizona.edu</a>) presents students with flexible degree path options and guides them to an adviser who can assist in finding a convenient coworking location, and will help the student create a customized degree plan.</span></span></p>

<p><span style="font-size:20px"><span style="font-family:Arial">&ldquo;The events that caused the current situation in international education have hastened the dawn of a new post-mobility world in which physical travel is unnecessary for the creation and transmission of knowledge across borders,&rdquo; said Brent White, vice provost of global affairs at Arizona.</span></span></p>

<p><span style="font-size:20px"><span style="font-family:Arial">&ldquo;Almost overnight, courses have transitioned to online, and international students are continuing to study while remaining safe at home in their own countries. We want to help them achieve their dreams of a U.S. degree, no matter the circumstances.&rdquo;</span></span></p>

<p><span style="font-size:20px"><img alt="" src="/app/webroot/userfiles/images/Global-Campus-FB-10-1.png" style="height:420px; width:800px" /></span></p>

<p>&nbsp;</p>

<p>&nbsp;</p>

<p>&nbsp;</p>
',
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			'description' => '',
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	(int) 6 => array(
		'Article' => array(
			'id' => '12254',
			'article_category_id' => '1',
			'title' => 'Shareholders Worried by Closure of Sri Ram Sugar Mill ',
			'sub_title' => '',
			'summary' => 'July 30: With the announcement of the closure of Shri Ram Sugar Mills, shareholders of the company are worried about losing their investment.',
			'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;">July 30: With the announcement of the closure of Shri Ram Sugar Mills, shareholders of the company are worried about losing their investment. As soon as the company permanently shut down from July 28, the share trading was also closed. </span></span></span></span></p>

<p><span style="font-size:11pt"><span style="font-family:Calibri"><span style="font-size:14.0pt"><span style="font-family:&quot;Times New Roman&quot;">The share transaction of the company was active till Monday, July 27 when 770 units of shares were traded. Each unit of share was traded for Rs 338. </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;">Shareholder Damaruballabh Ghimire said that the company which issued shares 19 years ago, has paid 7-8 percent dividend only once. He said that the shares issued by 67 companies to the public have not returned their investments after their closure. </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 Ghimire, he fears that the shareholders will not get anything as the company will have to pay their staff, farmers, and bank loans by selling their movable and immovable assets. He alleges that private companies are making profit while the public companies are shut down stating that they are at loss. </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;">Companies like Necon Air, Gorakhkali Rubber Industry, Crystal Finance, Basbari Leather Shoe Company, and Nepal Battery have been closed but not a single investor has received their share. Many have kept their certificates safe in the hope of getting their money back. </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 law, the shareholders should get back their investment. When a company is dissolved, </span></span><span style="font-size:14.0pt"><span style="font-family:&quot;Times New Roman&quot;">the first priority should be given to the workers and employees of the industry while paying the liability of the company. The remaining amount is then used for repaying the loan and liquidator&rsquo;s remuneration. The amount paid to sugarcane farmers by Shri Ram Sugar Mills should also be given priority. The investors will get back their investment only after paying off these amount. </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;">However, even after selling all the assets of the mills, it is said that it is difficult to pay the investors. Spokesperson of Nepal Stock Exchange (NEPSE) Murari Parajuli said that it is uncertain whether Sri Ram Mills can return the investment of the shareholders or not. He said that if the liquidator orders the dismissal of the company, NEPSE will use the power of the market operator to determine whether the shareholders have been given priority or not. </span></span></span></span></p>

<p><span style="font-size:11pt"><span style="font-family:Calibri"><span style="font-size:14.0pt"><span style="font-family:&quot;Times New Roman&quot;">Due to lack of capital, the company has not been able to pay the amount and remuneration of the employees working in the industry for the last four months. The company said it would pay the amount from the sale of movable property. The management of the company has already started the process for the necessary permission from the Government of Nepal in this regard. </span></span></span></span></p>

<p><span style="font-size:11pt"><span style="font-family:Calibri"><span style="font-size:14.0pt"><span style="font-family:&quot;Times New Roman&quot;">The company&rsquo;s 3.45 million units of share are listed in the secondary market of security deposit worth Rs 304.5 million. </span></span></span></span></p>
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	(int) 7 => array(
		'Article' => array(
			'id' => '12252',
			'article_category_id' => '1',
			'title' => 'Hotel Industry Formally Resumes Service',
			'sub_title' => '',
			'summary' => 'July 30: Hotels and restaurants have formally reopened from today after the government lifted a ban on operating hotel industry effective from July 30. ',
			'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;">July 30: Hotels and restaurants have formally reopened from today after the government lifted a ban on operating hotel industry effective from July 30. </span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;">Trekking agencies, travel and expedition companies have resumed their service targeting the peak season. However, the hotel entrepreneurs are worried about the uncertainty of the protocol set by the health ministry. They say that the government has not made any clear criteria regarding foreign tourists and therefore they are a little hesitant. The government has not set clear criteria about handling the foreign visitors after PCR test. They argue that the foreign tourists do not visit Nepal to stay in quarantine for 14 days. But the government is not clear about this provision, informed Srijana Rana, president of Hotel Association of Nepal.</span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;">Although the protocol issued by the ministry has defined the dos and don&rsquo;ts for hotels, restaurants, airline companies and all the businesses associated with tourists, it doesn&rsquo;t mention anything about tourists. </span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;">Senior Vice President of HAN Binayak Shah says tourists cannot visit Nepal in this context even if they are willing to come here.</span></span></span></span></p>
',
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			'description' => '',
			'sortorder' => '12000',
			'image' => '20200730023507_20200504104410_20190511105700_Clipboard37 2.jpg',
			'article_date' => '2020-07-30 14:34:36',
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	(int) 8 => array(
		'Article' => array(
			'id' => '12253',
			'article_category_id' => '1',
			'title' => 'Extreme Shortage of Urea across the Country',
			'sub_title' => 'Farmers have not received the required amount of urea fertilizer even though paddy plantation is already done.',
			'summary' => 'July 30: Framers across Nepal are facing an acute shortage of urea fertilizer as 21,500 metric tons of the fertilizer is currently stuck at Kandla port in Gujarat, India.',
			'content' => '<p><span style="font-size:20px"><span style="font-family:Cambria"><span style="font-family:Calibri">July 30: Framers across Nepal are facing an acute shortage of urea fertilizer as 21,500 metric tons of the fertilizer is currently stuck at Kandla port in Gujarat, India.</span></span></span></p>

<p><span style="font-size:20px"><span style="font-family:Cambria"><span style="font-family:Calibri">According to agriculture department, a total of 40,000 metric tons of urea fertilizer is required for the period of one month from July to August during paddy plantation. However, only 1,060 metric tons of urea stock is currently available in the country. The agro-products suppliers and Salt Trading Corporation distribute the fertilizers to farmers in Nepal and are currently running out of stock.</span></span></span></p>

<p><span style="font-size:20px"><span style="font-family:Cambria"><span style="font-family:Calibri">Similarly, the country currently has 12,800 and 2,500 metric tons of DAP and Potassium respectively.</span></span></span></p>

<p><span style="font-size:20px"><span style="font-family:Cambria"><span style="font-family:Calibri">However, demand of Urea is higher than DAP during the paddy plantation season. &nbsp;</span></span></span></p>

<p><span style="font-size:20px"><span style="font-family:Cambria"><span style="font-family:Calibri">Pankaj Joshi, assistant general manager of Salt Trading Corporation informed that it may take another month for the 21,500 metric tons of urea fertilizer stopped at Kandla port to reach Nepal.</span></span></span></p>

<p><span style="font-size:20px"><span style="font-family:Cambria"><span style="font-family:Calibri">At present, paddy plantation has been completed across the country. However, farmers are worried that the lack of urea fertilizer might affect their plantation, informed Chitra Bahadur Shrestha, chairman of the National Farmers Commission.</span></span></span></p>

<p><span style="font-size:20px"><span style="font-family:Cambria"><span style="font-family:Calibri">He added that the government has failed to provide fertilizer to the farmers in time. &quot;If chemical fertilizers are not used regularly, it can affect production,&quot; he adds.</span></span></span></p>

<p>&nbsp;</p>
',
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			'description' => '',
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	(int) 9 => array(
		'Article' => array(
			'id' => '12251',
			'article_category_id' => '1',
			'title' => 'Most of the Donor Agencies yet to Respond to Government’s Request for Moratorium Period',
			'sub_title' => '',
			'summary' => 'July 30: The government has requested donor agencies for moratorium period due to its inability repay loan because of coronavirus pandemic but most of the donor agencies have not taken any decision in granting this facility to 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;">July 30: The government has requested donor agencies for moratorium period due to its inability repay loan because of coronavirus pandemic but most of the donor agencies have not taken any decision in granting this facility to Nepal.</span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;">According to a highly-placed source at the Ministry of Finance, although Finance Minister Yuba Raj Khatiwada has been lobbying with the donor agencies to postpone the date of loan repayment,&nbsp; only Japan has responded positively.</span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;">The finance ministry confirmed that Japan has agreed to extend the date of loan repayment without any conditions while other donors have only given assurance to the government.</span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;">Officials at the Ministry of Finance say that the government is liable to pay a total of Rs 23 billion to the donor agencies between mid-April to mid-December 2020. </span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;">The government has to pay Rs 1.88 billion, including loan and interest, to India during this period while the outstanding amount to China is Rs 550 million and Rs 160 million to Saudi Arabia.</span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;">Likewise, the government needs to repay Rs 10.83 billion to Asian Development Bank and Rs 6.97 billion to the World Bank as loan and interest.</span></span></span></span></p>

<p><span 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 finance ministry, Japan has approved unconditional support to extend the time period for loan repayment by three years.</span></span></span></span></p>

<p><span 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;No other donor agency besides Japan has given us any such facility,&rdquo; said the source requesting anonymity.</span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;">With the commitment from Japan, the government will not face the burden or repaying Rs 780 million for the time being. Officials at the ministry say that the government has been trying to seek moratorium period from India as well but the southern neighbor has not responded yet.</span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;">Meanwhile, China has proposed certain conditions for similar request from the government of Nepal, informed the source. Although China has shown interest to extend the date for repayment of loan by 4 years, it has demanded interest for the period. The official said that the rate of interest charged by China is more than the rate charged by other countries. The source said that the government cannot accept the terms and conditions put forward by China.</span></span></span></span></p>

<p>&nbsp;</p>
',
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	(int) 10 => array(
		'Article' => array(
			'id' => '12250',
			'article_category_id' => '1',
			'title' => 'Contempt of Court Case Filed against Food Technology Department',
			'sub_title' => '',
			'summary' => 'July 29: The Supreme Court has issued a show cause notice to the Food Technology and Quality Control Department (FTQCD) for not letting a company import peas into 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;">July 29: The Supreme Court has issued a show cause notice to the Food Technology and Quality Control Department (FTQCD) for not letting a company import peas into Nepal.</span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;">A single bench of justice Bam Kumar Shrestha issued the notice to the department on Tuesday (July 29) to furnish reason behind its act. Kalwar Agro Industries had filed a contempt of court case at the Supreme Court against the department, arguing that the department did not comply with the apex court order issued earlier.</span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;">The Supreme Court had earlier issued an order not to stop the import of goods if the importer has fulfilled all necessary processes.</span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;">The importer had reached the department with the verdict for customs clearance of the goods but the government officials denied permission to the company to import the goods.</span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;">The Supreme Court has issued the fresh notice against Director General of the FTQCD Manita Joshi Baidhya asking for valid reasons why the importer cannot import the items.</span></span></span></span></p>

<p><span style="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 imposed a ban on import of peas, pepper, betel nuts and dates on March 29. The order was published in Nepal Gazette on April 6. The importer has been demanding release of the peas that were in the process of import before the government imposed the ban.</span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;">The department has maintained that the importer needs to take prior permission for import of such items and that the department cannot release the goods because of government order.</span></span></span></span></p>

<p>&nbsp;</p>
',
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	(int) 11 => array(
		'Article' => array(
			'id' => '12249',
			'article_category_id' => '1',
			'title' => 'Construction of Pokhara Airport Resumes in Full Fledge',
			'sub_title' => '',
			'summary' => 'July 29: The construction of Pokhara Regional Airport, which was affected by the lockdown imposed to curb coronavirus, has now gained momentum once again.',
			'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;">July 29: The construction of Pokhara Regional Airport, which was affected by the lockdown imposed to curb coronavirus, has now gained momentum once 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 construction work was halted because of difficulty in bringing in equipment from China and the delay in return of Chinese workers due to coronavirus. With the lifting of the lockdown, the construction work is taking place in war footing.</span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;">The construction company which bagged the project has expedited the work after assurance that the equipment and technicians from China will be available soon.</span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;">A total of 370 workers including 270 Chinese and 100 Nepalese&nbsp; have been deployed for the construction of the airport. </span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;">The project has set a target to complete the work within July 2021. Currently, the work progress is 62 percent, according to Pokhara International Airport Project Chief Binesh Munakarmi.</span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;">He said that they had been continuing work even during lockdown by adopting precautionary measures.</span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;">The airport, which is considered as one of the national pride projects, has so far seen completion of the runway, apron, taxi way, isolated parking, hangar, terminal building and access way.</span></span></span></span></p>

<p><span 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 project chief Munakarmi, they are in the final phase of completing other buildings while other works are still remaining.</span></span></span></span></p>

<p><span 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 Chinese workers who had returned home to celebrate the new year in January were stranded after confirmation of coronavirus in Wuhan of China. After the lockdown was lifted in China in March, we were able to bring 107 Chinese workers and resume the work,&rdquo; he said.</span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;">Meanwhile, senior engineer Krishna Prasad Poudel informed that the construction of the runway, which is considered as the main work, was completed a year ago and now they are focusing on other infrastructural 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;">Poudel added that the 2500-meter runway is the first-of-its-kind in Nepal.</span></span></span></span></p>
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		'Article' => array(
			'id' => '12247',
			'article_category_id' => '1',
			'title' => 'Transport Entrepreneurs Preparing to Reduce Number of Vehicles ',
			'sub_title' => '',
			'summary' => 'July 29: Private transport companies that have been operating public vehicles since mid-July are preparing to reduce the number of vehicles due to lack of passengers.  ',
			'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;">July 29: Private transport companies that have been operating public vehicles since mid-July are preparing to reduce the number of vehicles due to lack of passengers.&nbsp; </span></span></span></span></p>

<p><span style="font-size:11pt"><span style="font-family:Calibri"><span style="font-size:14.0pt"><span style="font-family:&quot;Times New Roman&quot;">Although the government had allowed carrying half of the seat capacity due to the risk of coronavirus infection, the transport entrepreneurs say that the public vehicles have not received even half passengers. </span></span></span></span></p>

<p><span style="font-size:11pt"><span style="font-family:Calibri"><span style="font-size:14.0pt"><span style="font-family:&quot;Times New Roman&quot;">Despite the government&rsquo;s decision to allow transport entrepreneurs to charge 50 percent more than the normal fare, Sundar Yatayat that has been operating four electric buses in the Valley is rendering its service at the price before the lockdown. </span></span></span></span></p>

<p><span style="font-size:11pt"><span style="font-family:Calibri"><span style="font-size:14.0pt"><span style="font-family:&quot;Times New Roman&quot;">&ldquo;Although we are providing service at the old fare, there are no passengers. Sometimes the bus runs without any passenger on board,&rdquo; chairman of Sundar Yatayat Bhesh Bahadur Thapa said. The company is preparing to run only two buses if the situation remains the same. </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;">Likewise, secretary at Digo Yatayat, Lal Prasad Guragain says that they are also planning to operate only four buses from Sunday if the situation does not improve. The company had planned to operate all 17 buses from the first week of August. </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;">Mahanagar Yatayat, which has a total of 39 buses, has only brought 10 buses in operation. &ldquo;We don&rsquo;t have plans to operate more buses at present we cannot even collect enough money for fuel and staff expense,&rdquo; said chief of Mahanagar Yatayat Keshav Nepal. </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;">Similar is the case with the government owned transport company Sajha Yatayat. The company which has been operating 26 buses from July 16 had planned to operate all 71 buses within a month. However, they have halted the decision. &ldquo;Not even the operating cost is raised, but after the government&rsquo;s decision, we have been operating the buses to give transportation service,&rdquo; Mahendra Pandey, CEO of Sajha Yatayat said. </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;">Saroj Sitaula, general secretary of the Federation of Nepali National Transport Entrepreneurs said that there won&rsquo;t be any difference to transport entrepreneurs if inter-district operation is not allowed. </span></span></span></span></p>

<p>&nbsp;</p>
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		'Article' => array(
			'id' => '12246',
			'article_category_id' => '1',
			'title' => 'Payment of Workers During Lockdown Sorted Out',
			'sub_title' => '',
			'summary' => 'July 29: The issue of workers’ payment by industries during the lockdown period has finally been sorted out after 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;">July 29: The issue of workers&rsquo; payment by industries during the lockdown period has finally been sorted out after four months. &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 employers reached an understanding with the umbrella organisation of workers on Tuesday (July 28) for the payment during the Nepali months of Chaitra (mid-March to mid-April), Baishakh and Jestha. </span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;">The payment issue for the month of Ashad (mid-June to mid-July) has not become much of a problem as the industries started deploying workers shift-wise and the payment has been assured accordingly.</span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;">As per the agreement reached between the two sides, workers in the formal sector will get full salary for the month of Chaitra. Meanwhile, the salary of Baishakh and Jestha will be reduced by 50 percent despite the workers being unable to attend office due to lockdown.&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;">With this agreement, the long standing issue of payment in the hotel industry, restaurants, as well as other organisations has come 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:&quot;Arial Unicode MS&quot;">The bilateral agreement between the employers and the trade unions will be submitted to a task force under the Ministry of Labour, Employment and Social Security, informed Bharat Raj Acharya, deputy chairman of the Employment Council.</span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;">The ministry had formed the task force to sort out the payment issue during lockdown. The task force had held several rounds of meeting with both sides but failed to resolve the issue. It then instructed the warring sides to sort out the contentious issue themselves.</span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;">Representatives of the employers led by chairman of the Employment Council of the Federation of Nepalese Chambers of Commerce and Industry (FNCCI) Chandra Prasad Dhakal had been relentlessly trying to settle the issue amicably.</span></span></span></span></p>

<p><span 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, vice chairman Acharya said that it is not possible to create new employment opportunities at the moment while it is also imperative to ensure the welfare of workers involved in the formal sector. In such a situation, the employers have decided to retain the workforce by deploying the workers in different shifts and to ensure minimum payment for them.</span></span></span></span></p>
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		'Article' => array(
			'id' => '12248',
			'article_category_id' => '1',
			'title' => 'Over 100 Local Units yet to Present Budget for Current Fiscal Year',
			'sub_title' => '',
			'summary' => 'July 29: A total of 182 local units have failed to present their budget for the current fiscal year to the village council.',
			'content' => '<p><span style="font-size:12pt"><span style="font-family:Cambria"><span style="font-size:14.0pt"><span style="font-family:Calibri">July 29: A total of 182 local units have failed to present their budget for the current fiscal year to the village council.</span></span></span></span></p>

<p><span style="font-size:12pt"><span style="font-family:Cambria"><span style="font-size:14.0pt"><span style="font-family:Calibri">As per the constitutional provision, the local levels should present their budget for the new fiscal year to the village council by June 25. However, 182 local levels have not been able to present their budget yet.</span></span></span></span></p>

<p><span style="font-size:12pt"><span style="font-family:Cambria"><span style="font-size:14.0pt"><span style="font-family:Calibri">According to the Ministry of Federal Affairs and General Administration, a total of 571 local levels have so far presented their budget to the village council for the fiscal year 2077/78 within the deadline set by the constitution.</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">Province 2 in this regard has the highest number of local levels failing to present the budget on time.</span></span></span></span></p>

<p><span style="font-size:12pt"><span style="font-family:Cambria"><span style="font-size:14.0pt"><span style="font-family:Calibri">According to the ministry, 74 local levels of Province 2 are yet to introduce the budget for the current fiscal year. Similarly, 27 local level governments from Province 1 and 25 from Far Western Province have also failed to launch their budget for the current fiscal year.</span></span></span></span></p>

<p><span style="font-size:12pt"><span style="font-family:Cambria"><span style="font-size:14.0pt"><span style="font-family:Calibri">&quot;The Ministry of Federal Affairs has directed the local levels to present their budget. Some of the local levels are not complying with the orders. The Finance Ministry will stop sending grants to such local levels,&quot; informed an official at the finance ministry.</span></span></span></span></p>

<p>&nbsp;</p>
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		'Article' => array(
			'id' => '12261',
			'article_category_id' => '1',
			'title' => 'Internal Dispute of Sunrise Bank resolved',
			'sub_title' => '',
			'summary' => 'July 31: The dispute between the board of directors of Sunrise Bank and the CEO has been resolved for the time being. ',
			'content' => '<p><span style="font-size:12pt"><span style="font-family:Cambria"><span style="font-size:14.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;">July 31: The dispute between the board of directors of Sunrise Bank and the CEO has been resolved for the time being. </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:&quot;Arial Unicode MS&quot;">The dispute had taken unexpected turns after the board allegedly demanded resignation of CEO Janak Sharma Poudel. However, the misunderstanding has been resolved after both sides reached an understanding on Thursday (July 30) to move ahead hand in hand.</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:&quot;Arial Unicode MS&quot;">A board meeting on Thursday decided to take future course of action on mutual understanding. Company Secretary of Sunrise Bank, Ishwar Pokharel, informed that the board meeting took a decision for the welfare of all stakeholders. </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:&quot;Arial Unicode MS&quot;">&ldquo;We have resolved the issue by taking all sides into confidence. Both sides have decided to work together for the welfare of the organisation,&rdquo; said Pathak, adding that the board had sought clarification from CEO Poudel instead of resignation.</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:&quot;Arial Unicode MS&quot;">&ldquo;The board and the CEO have agreed to collaborate to take the bank to new heights,&rdquo; said Pathak.</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:&quot;Arial Unicode MS&quot;">Nepal Rastra Bank had called both sides for discussion recently after the dispute grew out of proportion. The central bank had suggested the board members of the bank to sort out the issue through mutual understanding. An informed source told New Business Age that the board members of the bank decided to collaborate with the CEO fearing intervention by the central bank.</span></span></span></span></p>

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

<p>&nbsp;</p>

<p>&nbsp;</p>

<p>&nbsp;</p>
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		'Article' => array(
			'id' => '12258',
			'article_category_id' => '1',
			'title' => 'Government to Seek Financial Assistance from ADB to Mitigate the Risks of Floods and Landslides',
			'sub_title' => '',
			'summary' => 'July 31: The government has decided to seek financial assistance of US$ 50 million (Rs 6 billion) from the Asian Development Bank (ADB) to mitigate the risks of floods and landslides.',
			'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;">July 31: The government has decided to seek financial assistance of US$ 50 million (Rs 6 billion) from the Asian Development Bank (ADB) to mitigate the risks of floods and landslides.</span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;">A meeting of the Council of Ministers has decided to form a talks team headed by joint secretary at the International Financial Assistance Coordination Division for this purpose. </span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;">Minister for Communication and Information Technology Dr Yuba Raj Khatiwada confirmed that the government has formed the team to prepare a work plan for seeking assistance from ADB.</span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;">Minister Khatiwada said that government will seek both loan and grant assistance from ADB.</span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;">Likewise, the government has decided to give 50 percent concession on customs duty to the Food Management and Trade Company Limited and the Salt Trading Limited to import a total of 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;Arial Unicode MS&quot;">The cabinet meeting also decided to take necessary steps to resume schools and educational institutes that have remained closed due to the coronavirus pandemic and the subsequent lockdown.</span></span></span></span></p>

<p>&nbsp;</p>
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		'Article' => array(
			'id' => '12257',
			'article_category_id' => '1',
			'title' => 'NAC Permanently Grounds Chinese Aircraft',
			'sub_title' => '',
			'summary' => 'July 31: Nepal Airlines Corporation (NSC) has formally stopped the operation of Chinese aircraft for domestic flights from Thursday (July 30).',
			'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;">July 31: Nepal Airlines Corporation (NSC) has formally stopped the operation of Chinese aircraft for domestic flights from Thursday (July 30).</span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;">Due to its failure to operate the six Chinese aircraft due to high cost and maintenance as well as other factors, a board meeting of the state-owned airline company had earlier decided to permanently ground the aircraft effective from July 30.</span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;">The NAC board has been heavily criticized for purchasing the aircraft under political pressure without conducting proper assessment.</span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;">NAC&rsquo;s stake in the domestic market is currently 3 percent, which is expected to shrink further after grounding the China-made aircraft.</span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;">The government has already decided to resume domestic and international flights from August 17. But the state-owned company now doesn&rsquo;t have adequate aircraft for domestic flights.</span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;">After grounding the six aircraft, NAC now has just three Twin Otters left in its fleet for internal flights. One of them is currently being repaired to the NAC is in a position to operate only two aircraft at the moment.</span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;">NAC Spokesperson Archana Khadka informed that the flag carrier of Nepal will use these two aircraft for domestic flights for the time being.</span></span></span></span></p>

<p><span 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;NAC has formally decided to ground all the Chinese aircraft for domestic flights. Now we will utilize the Twin Otters for domestic flight,&rdquo; said Khadka.</span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;">NAC stated that the Twin Otters with seat capacity of 17 to 19 passengers will provide service to remote areas of the country. However, NAC will not be operating any flights in the main trunk routes with high number of passengers. NAC had been operating the Chinese aircraft in trunk routes like Bhairahawa, Pokhara, Nepalgunj, Dhangadhi, Simara, Biratnagar and Chandragadhi.</span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;">Private companies have been dominating the domestic flight service in the country. Buddha Air, Yeti Airlines and Shree Airlines have strong hold in the domestic flight routes. </span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;">NAC Spokesperson Khadka informed that the company is discussing about procuring new aircraft after it sells off the Chinese planes.</span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;">NAC had to face losses worth Rs 2.3 billion while operating the&nbsp; Chinese aircraft during the last five years.</span></span></span></span></p>

<p>&nbsp;</p>
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			'article_category_id' => '1',
			'title' => 'Importers doubt Effectiveness of Electronic Cargo Tracking System',
			'sub_title' => '',
			'summary' => 'July 31: Nepali importers have suggested that the Electronic Cargo Tracking System (ECTS) being used for transshipment of goods via India is not necessary along the railway route.',
			'content' => '<p><span style="font-size:12pt"><span style="font-family:Cambria"><span style="font-size:14.0pt"><span style="font-family:Calibri">July 31: Nepali importers have suggested that the Electronic Cargo Tracking System (ECTS) being used for transshipment of goods via India is not necessary along the railway route.</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">They also complained that the effectiveness of ECTS, that has been implemented on transshipments of goods imported from Kolkata Port in India, has not been reviewed till date.&nbsp;&nbsp;&nbsp;&nbsp; </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 Ministry of Industry, Commerce and Supplies itself is unclear about the impact of the ECTS even after a year and a half since it came into operation. The ministry earlier had been informed to review the impact of ECTS on transshipment of goods within the first three month of its introduction.</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">ECTS was implemented as a pilot project to facilitate the transshipment of goods for overseas trade at the seaports of India.</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">However, the importers claim additional ECTS is unnecessary along the railway route as it is already being used on containers transported by the trains.</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">At present, a tracking device based on GPS is connected to the container coming from Kolkata port till Birgunj dry port.</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">This system was adopted from February 15, 2019 to remove the paperwork at Kolkata Port.</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 ECTS was implemented to ensure that containers coming from third countries were not misused in India.</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">Even though it is said that the container can be monitored through this device, the service provider has not provided tracking facility to most of the concerned importers.</span></span></span></span></p>

<p>&nbsp;</p>
',
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	(int) 4 => array(
		'Article' => array(
			'id' => '12256',
			'article_category_id' => '1',
			'title' => 'Import of Gold Lowest in 5 Years',
			'sub_title' => '',
			'summary' => 'July 30: The lockdown imposed by the government to contain the spread of coronavirus and the increase in price of gold in the international market led to a drastic fall in import of the precious yellow metal during the last fiscal year.',
			'content' => '<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;">July 30: The lockdown imposed by the government to contain the spread of coronavirus and the increase in price of gold in the international market led to a drastic fall in import of the precious yellow metal during 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 the data maintained by the Department of Customs, the import of gold in FY 2019/20 was the lowest in the last five years. During the review period, Nepal imported gold worth Rs 13.46 billion, which is 61.11 percent less than the import in the previous fiscal year (2018/19) when the country imported gold worth Rs 34.61 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;">Five years ago, the import of gold was worth Rs 16.7 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;">In the recent years, Nepal had been importing gold worth Rs 30 billion in average every year. But this year, the import of gold declined to a great extent.</span></span></span></span></p>

<p><span 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 terms of quantity, the import of gold declined by 68 percent in the review period compared to the previous fiscal year. In FY 2019/20, Nepal imported 7492 kg of gold while the import in FY 2018/19 was 1400 kg.</span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;">The country didn&rsquo;t import any gold after the government imposed lockdown on March 24. Executive Director of Nepal Banker&rsquo;s Association Anil Sharma told New Business Age that the country hasn&rsquo;t imported gold after the lockdown was imposed. Banks have stock of 330 kg gold which was imported before the lockdown period. The banks have been supplying gold to the market as per the demand.</span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;">&ldquo;Dealers have stopped buying gold due to the increase in price,&rdquo; said Sharma, adding that hardly 1 kg of gold gets sold in a day.</span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;">He said that the banks will not import any additional gold until the stock is cleared.</span></span></span></span></p>

<p>&nbsp;</p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;">The price of gold was Rs 60,000 per tola (11 grams approximately) by mid-July 2019. The price has increased to almost Rs 100,000 in about a year. Due to the increase in price of gold, the trade has slumped a lot. Gold dealers themselves have reportedly urged bankers not to import any more gold.</span></span></span></span></p>

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

<p>&nbsp;</p>
',
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	(int) 5 => array(
		'Article' => array(
			'id' => '12255',
			'article_category_id' => '1',
			'title' => 'University of Arizona Offers Online Degree in Collaboration with Partner in Nepal',
			'sub_title' => '',
			'summary' => '',
			'content' => '<p><span style="font-size:20px"><span style="font-family:Arial">July 30: USA-based University of Arizona and rem.work, Kathmandu have announced a coworking space partnership for the concept of &ldquo;Global Campus&rdquo; to help students start or continue a US degree without leaving their home country. </span></span></p>

<p><span style="font-size:20px"><span style="font-family:Arial">A joint statement issued by the two organisation states that rem.work, a leading coworking space provider in Nepal, has created &ldquo;flexible and affordable options&rdquo; with the University of Arizona to allow students to earn a full US degree or US transfer credits. </span></span></p>

<p><span style="font-size:20px"><span style="font-family:Arial">&ldquo;Not only does Global Campus help solve the mobility challenges of today caused by COVID-19, it is a meaningful and long-term effort at meeting the UN Sustainable Development Goal of providing accessible quality education to the world,&rdquo; the statement quoted President of the University of Arizona Robert C Robbins as saying.</span></span></p>

<p><span style="font-size:20px"><span style="font-family:Arial">As universities have increasingly pivoted to offer online learning modalities, coworking spaces have become a pioneering point of access for University of Arizona&rsquo;s global campus degree programs. </span></span></p>

<p><span style="font-size:20px"><span style="font-family:Arial">Enrolling in the University of Arizona through a coworking partner is attractive to mid-career and working professionals looking to up-skill, re-skill, or start a master&rsquo;s program in a safe and professional setting, with access to reliable internet and leading-edge amenities, the statement&nbsp; further said. </span></span></p>

<p><span style="font-size:20px"><span style="font-family:Arial">&ldquo;With a substantial scholarship in place for students in Nepal, this is one of the most flexible and affordable ways to get a fully-accredited U.S. degree from a high-ranking U.S. university, without leaving the country. Tuition covers online classes taught by top-notch Arizona faculty, as well as full access to all current and future rem.work facilities in Nepal,&rdquo; the statement added.</span></span></p>

<p><img alt="" src="/app/webroot/userfiles/images/Global-Campus-TWITTER-15-1.png" style="height:409px; width:545px" /></p>

<p><span style="font-size:20px"><span style="font-family:Arial">According to the statement, the website of the University of Arizona (<a href="https://everywhere.arizona.edu/">everywhere.arizona.edu</a>) presents students with flexible degree path options and guides them to an adviser who can assist in finding a convenient coworking location, and will help the student create a customized degree plan.</span></span></p>

<p><span style="font-size:20px"><span style="font-family:Arial">&ldquo;The events that caused the current situation in international education have hastened the dawn of a new post-mobility world in which physical travel is unnecessary for the creation and transmission of knowledge across borders,&rdquo; said Brent White, vice provost of global affairs at Arizona.</span></span></p>

<p><span style="font-size:20px"><span style="font-family:Arial">&ldquo;Almost overnight, courses have transitioned to online, and international students are continuing to study while remaining safe at home in their own countries. We want to help them achieve their dreams of a U.S. degree, no matter the circumstances.&rdquo;</span></span></p>

<p><span style="font-size:20px"><img alt="" src="/app/webroot/userfiles/images/Global-Campus-FB-10-1.png" style="height:420px; width:800px" /></span></p>

<p>&nbsp;</p>

<p>&nbsp;</p>

<p>&nbsp;</p>
',
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	(int) 6 => array(
		'Article' => array(
			'id' => '12254',
			'article_category_id' => '1',
			'title' => 'Shareholders Worried by Closure of Sri Ram Sugar Mill ',
			'sub_title' => '',
			'summary' => 'July 30: With the announcement of the closure of Shri Ram Sugar Mills, shareholders of the company are worried about losing their investment.',
			'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;">July 30: With the announcement of the closure of Shri Ram Sugar Mills, shareholders of the company are worried about losing their investment. As soon as the company permanently shut down from July 28, the share trading was also closed. </span></span></span></span></p>

<p><span style="font-size:11pt"><span style="font-family:Calibri"><span style="font-size:14.0pt"><span style="font-family:&quot;Times New Roman&quot;">The share transaction of the company was active till Monday, July 27 when 770 units of shares were traded. Each unit of share was traded for Rs 338. </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;">Shareholder Damaruballabh Ghimire said that the company which issued shares 19 years ago, has paid 7-8 percent dividend only once. He said that the shares issued by 67 companies to the public have not returned their investments after their closure. </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 Ghimire, he fears that the shareholders will not get anything as the company will have to pay their staff, farmers, and bank loans by selling their movable and immovable assets. He alleges that private companies are making profit while the public companies are shut down stating that they are at loss. </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;">Companies like Necon Air, Gorakhkali Rubber Industry, Crystal Finance, Basbari Leather Shoe Company, and Nepal Battery have been closed but not a single investor has received their share. Many have kept their certificates safe in the hope of getting their money back. </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 law, the shareholders should get back their investment. When a company is dissolved, </span></span><span style="font-size:14.0pt"><span style="font-family:&quot;Times New Roman&quot;">the first priority should be given to the workers and employees of the industry while paying the liability of the company. The remaining amount is then used for repaying the loan and liquidator&rsquo;s remuneration. The amount paid to sugarcane farmers by Shri Ram Sugar Mills should also be given priority. The investors will get back their investment only after paying off these amount. </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;">However, even after selling all the assets of the mills, it is said that it is difficult to pay the investors. Spokesperson of Nepal Stock Exchange (NEPSE) Murari Parajuli said that it is uncertain whether Sri Ram Mills can return the investment of the shareholders or not. He said that if the liquidator orders the dismissal of the company, NEPSE will use the power of the market operator to determine whether the shareholders have been given priority or not. </span></span></span></span></p>

<p><span style="font-size:11pt"><span style="font-family:Calibri"><span style="font-size:14.0pt"><span style="font-family:&quot;Times New Roman&quot;">Due to lack of capital, the company has not been able to pay the amount and remuneration of the employees working in the industry for the last four months. The company said it would pay the amount from the sale of movable property. The management of the company has already started the process for the necessary permission from the Government of Nepal in this regard. </span></span></span></span></p>

<p><span style="font-size:11pt"><span style="font-family:Calibri"><span style="font-size:14.0pt"><span style="font-family:&quot;Times New Roman&quot;">The company&rsquo;s 3.45 million units of share are listed in the secondary market of security deposit worth Rs 304.5 million. </span></span></span></span></p>
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	(int) 7 => array(
		'Article' => array(
			'id' => '12252',
			'article_category_id' => '1',
			'title' => 'Hotel Industry Formally Resumes Service',
			'sub_title' => '',
			'summary' => 'July 30: Hotels and restaurants have formally reopened from today after the government lifted a ban on operating hotel industry effective from July 30. ',
			'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;">July 30: Hotels and restaurants have formally reopened from today after the government lifted a ban on operating hotel industry effective from July 30. </span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;">Trekking agencies, travel and expedition companies have resumed their service targeting the peak season. However, the hotel entrepreneurs are worried about the uncertainty of the protocol set by the health ministry. They say that the government has not made any clear criteria regarding foreign tourists and therefore they are a little hesitant. The government has not set clear criteria about handling the foreign visitors after PCR test. They argue that the foreign tourists do not visit Nepal to stay in quarantine for 14 days. But the government is not clear about this provision, informed Srijana Rana, president of Hotel Association of Nepal.</span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;">Although the protocol issued by the ministry has defined the dos and don&rsquo;ts for hotels, restaurants, airline companies and all the businesses associated with tourists, it doesn&rsquo;t mention anything about tourists. </span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;">Senior Vice President of HAN Binayak Shah says tourists cannot visit Nepal in this context even if they are willing to come here.</span></span></span></span></p>
',
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			'sortorder' => '12000',
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	(int) 8 => array(
		'Article' => array(
			'id' => '12253',
			'article_category_id' => '1',
			'title' => 'Extreme Shortage of Urea across the Country',
			'sub_title' => 'Farmers have not received the required amount of urea fertilizer even though paddy plantation is already done.',
			'summary' => 'July 30: Framers across Nepal are facing an acute shortage of urea fertilizer as 21,500 metric tons of the fertilizer is currently stuck at Kandla port in Gujarat, India.',
			'content' => '<p><span style="font-size:20px"><span style="font-family:Cambria"><span style="font-family:Calibri">July 30: Framers across Nepal are facing an acute shortage of urea fertilizer as 21,500 metric tons of the fertilizer is currently stuck at Kandla port in Gujarat, India.</span></span></span></p>

<p><span style="font-size:20px"><span style="font-family:Cambria"><span style="font-family:Calibri">According to agriculture department, a total of 40,000 metric tons of urea fertilizer is required for the period of one month from July to August during paddy plantation. However, only 1,060 metric tons of urea stock is currently available in the country. The agro-products suppliers and Salt Trading Corporation distribute the fertilizers to farmers in Nepal and are currently running out of stock.</span></span></span></p>

<p><span style="font-size:20px"><span style="font-family:Cambria"><span style="font-family:Calibri">Similarly, the country currently has 12,800 and 2,500 metric tons of DAP and Potassium respectively.</span></span></span></p>

<p><span style="font-size:20px"><span style="font-family:Cambria"><span style="font-family:Calibri">However, demand of Urea is higher than DAP during the paddy plantation season. &nbsp;</span></span></span></p>

<p><span style="font-size:20px"><span style="font-family:Cambria"><span style="font-family:Calibri">Pankaj Joshi, assistant general manager of Salt Trading Corporation informed that it may take another month for the 21,500 metric tons of urea fertilizer stopped at Kandla port to reach Nepal.</span></span></span></p>

<p><span style="font-size:20px"><span style="font-family:Cambria"><span style="font-family:Calibri">At present, paddy plantation has been completed across the country. However, farmers are worried that the lack of urea fertilizer might affect their plantation, informed Chitra Bahadur Shrestha, chairman of the National Farmers Commission.</span></span></span></p>

<p><span style="font-size:20px"><span style="font-family:Cambria"><span style="font-family:Calibri">He added that the government has failed to provide fertilizer to the farmers in time. &quot;If chemical fertilizers are not used regularly, it can affect production,&quot; he adds.</span></span></span></p>

<p>&nbsp;</p>
',
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	(int) 9 => array(
		'Article' => array(
			'id' => '12251',
			'article_category_id' => '1',
			'title' => 'Most of the Donor Agencies yet to Respond to Government’s Request for Moratorium Period',
			'sub_title' => '',
			'summary' => 'July 30: The government has requested donor agencies for moratorium period due to its inability repay loan because of coronavirus pandemic but most of the donor agencies have not taken any decision in granting this facility to 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;">July 30: The government has requested donor agencies for moratorium period due to its inability repay loan because of coronavirus pandemic but most of the donor agencies have not taken any decision in granting this facility to Nepal.</span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;">According to a highly-placed source at the Ministry of Finance, although Finance Minister Yuba Raj Khatiwada has been lobbying with the donor agencies to postpone the date of loan repayment,&nbsp; only Japan has responded positively.</span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;">The finance ministry confirmed that Japan has agreed to extend the date of loan repayment without any conditions while other donors have only given assurance to the government.</span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;">Officials at the Ministry of Finance say that the government is liable to pay a total of Rs 23 billion to the donor agencies between mid-April to mid-December 2020. </span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;">The government has to pay Rs 1.88 billion, including loan and interest, to India during this period while the outstanding amount to China is Rs 550 million and Rs 160 million to Saudi Arabia.</span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;">Likewise, the government needs to repay Rs 10.83 billion to Asian Development Bank and Rs 6.97 billion to the World Bank as loan and interest.</span></span></span></span></p>

<p><span 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 finance ministry, Japan has approved unconditional support to extend the time period for loan repayment by three years.</span></span></span></span></p>

<p><span 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;No other donor agency besides Japan has given us any such facility,&rdquo; said the source requesting anonymity.</span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;">With the commitment from Japan, the government will not face the burden or repaying Rs 780 million for the time being. Officials at the ministry say that the government has been trying to seek moratorium period from India as well but the southern neighbor has not responded yet.</span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;">Meanwhile, China has proposed certain conditions for similar request from the government of Nepal, informed the source. Although China has shown interest to extend the date for repayment of loan by 4 years, it has demanded interest for the period. The official said that the rate of interest charged by China is more than the rate charged by other countries. The source said that the government cannot accept the terms and conditions put forward by China.</span></span></span></span></p>

<p>&nbsp;</p>
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			'sortorder' => '11998',
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			'article_date' => '2020-07-30 09:41:42',
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	(int) 10 => array(
		'Article' => array(
			'id' => '12250',
			'article_category_id' => '1',
			'title' => 'Contempt of Court Case Filed against Food Technology Department',
			'sub_title' => '',
			'summary' => 'July 29: The Supreme Court has issued a show cause notice to the Food Technology and Quality Control Department (FTQCD) for not letting a company import peas into 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;">July 29: The Supreme Court has issued a show cause notice to the Food Technology and Quality Control Department (FTQCD) for not letting a company import peas into Nepal.</span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;">A single bench of justice Bam Kumar Shrestha issued the notice to the department on Tuesday (July 29) to furnish reason behind its act. Kalwar Agro Industries had filed a contempt of court case at the Supreme Court against the department, arguing that the department did not comply with the apex court order issued earlier.</span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;">The Supreme Court had earlier issued an order not to stop the import of goods if the importer has fulfilled all necessary processes.</span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;">The importer had reached the department with the verdict for customs clearance of the goods but the government officials denied permission to the company to import the goods.</span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;">The Supreme Court has issued the fresh notice against Director General of the FTQCD Manita Joshi Baidhya asking for valid reasons why the importer cannot import the items.</span></span></span></span></p>

<p><span style="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 imposed a ban on import of peas, pepper, betel nuts and dates on March 29. The order was published in Nepal Gazette on April 6. The importer has been demanding release of the peas that were in the process of import before the government imposed the ban.</span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;">The department has maintained that the importer needs to take prior permission for import of such items and that the department cannot release the goods because of government order.</span></span></span></span></p>

<p>&nbsp;</p>
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	(int) 11 => array(
		'Article' => array(
			'id' => '12249',
			'article_category_id' => '1',
			'title' => 'Construction of Pokhara Airport Resumes in Full Fledge',
			'sub_title' => '',
			'summary' => 'July 29: The construction of Pokhara Regional Airport, which was affected by the lockdown imposed to curb coronavirus, has now gained momentum once again.',
			'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;">July 29: The construction of Pokhara Regional Airport, which was affected by the lockdown imposed to curb coronavirus, has now gained momentum once 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 construction work was halted because of difficulty in bringing in equipment from China and the delay in return of Chinese workers due to coronavirus. With the lifting of the lockdown, the construction work is taking place in war footing.</span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;">The construction company which bagged the project has expedited the work after assurance that the equipment and technicians from China will be available soon.</span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;">A total of 370 workers including 270 Chinese and 100 Nepalese&nbsp; have been deployed for the construction of the airport. </span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;">The project has set a target to complete the work within July 2021. Currently, the work progress is 62 percent, according to Pokhara International Airport Project Chief Binesh Munakarmi.</span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;">He said that they had been continuing work even during lockdown by adopting precautionary measures.</span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;">The airport, which is considered as one of the national pride projects, has so far seen completion of the runway, apron, taxi way, isolated parking, hangar, terminal building and access way.</span></span></span></span></p>

<p><span 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 project chief Munakarmi, they are in the final phase of completing other buildings while other works are still remaining.</span></span></span></span></p>

<p><span 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 Chinese workers who had returned home to celebrate the new year in January were stranded after confirmation of coronavirus in Wuhan of China. After the lockdown was lifted in China in March, we were able to bring 107 Chinese workers and resume the work,&rdquo; he said.</span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;">Meanwhile, senior engineer Krishna Prasad Poudel informed that the construction of the runway, which is considered as the main work, was completed a year ago and now they are focusing on other infrastructural 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;">Poudel added that the 2500-meter runway is the first-of-its-kind in Nepal.</span></span></span></span></p>
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		'Article' => array(
			'id' => '12247',
			'article_category_id' => '1',
			'title' => 'Transport Entrepreneurs Preparing to Reduce Number of Vehicles ',
			'sub_title' => '',
			'summary' => 'July 29: Private transport companies that have been operating public vehicles since mid-July are preparing to reduce the number of vehicles due to lack of passengers.  ',
			'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;">July 29: Private transport companies that have been operating public vehicles since mid-July are preparing to reduce the number of vehicles due to lack of passengers.&nbsp; </span></span></span></span></p>

<p><span style="font-size:11pt"><span style="font-family:Calibri"><span style="font-size:14.0pt"><span style="font-family:&quot;Times New Roman&quot;">Although the government had allowed carrying half of the seat capacity due to the risk of coronavirus infection, the transport entrepreneurs say that the public vehicles have not received even half passengers. </span></span></span></span></p>

<p><span style="font-size:11pt"><span style="font-family:Calibri"><span style="font-size:14.0pt"><span style="font-family:&quot;Times New Roman&quot;">Despite the government&rsquo;s decision to allow transport entrepreneurs to charge 50 percent more than the normal fare, Sundar Yatayat that has been operating four electric buses in the Valley is rendering its service at the price before the lockdown. </span></span></span></span></p>

<p><span style="font-size:11pt"><span style="font-family:Calibri"><span style="font-size:14.0pt"><span style="font-family:&quot;Times New Roman&quot;">&ldquo;Although we are providing service at the old fare, there are no passengers. Sometimes the bus runs without any passenger on board,&rdquo; chairman of Sundar Yatayat Bhesh Bahadur Thapa said. The company is preparing to run only two buses if the situation remains the same. </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;">Likewise, secretary at Digo Yatayat, Lal Prasad Guragain says that they are also planning to operate only four buses from Sunday if the situation does not improve. The company had planned to operate all 17 buses from the first week of August. </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;">Mahanagar Yatayat, which has a total of 39 buses, has only brought 10 buses in operation. &ldquo;We don&rsquo;t have plans to operate more buses at present we cannot even collect enough money for fuel and staff expense,&rdquo; said chief of Mahanagar Yatayat Keshav Nepal. </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;">Similar is the case with the government owned transport company Sajha Yatayat. The company which has been operating 26 buses from July 16 had planned to operate all 71 buses within a month. However, they have halted the decision. &ldquo;Not even the operating cost is raised, but after the government&rsquo;s decision, we have been operating the buses to give transportation service,&rdquo; Mahendra Pandey, CEO of Sajha Yatayat said. </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;">Saroj Sitaula, general secretary of the Federation of Nepali National Transport Entrepreneurs said that there won&rsquo;t be any difference to transport entrepreneurs if inter-district operation is not allowed. </span></span></span></span></p>

<p>&nbsp;</p>
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			'id' => '12246',
			'article_category_id' => '1',
			'title' => 'Payment of Workers During Lockdown Sorted Out',
			'sub_title' => '',
			'summary' => 'July 29: The issue of workers’ payment by industries during the lockdown period has finally been sorted out after 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;">July 29: The issue of workers&rsquo; payment by industries during the lockdown period has finally been sorted out after four months. &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 employers reached an understanding with the umbrella organisation of workers on Tuesday (July 28) for the payment during the Nepali months of Chaitra (mid-March to mid-April), Baishakh and Jestha. </span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;">The payment issue for the month of Ashad (mid-June to mid-July) has not become much of a problem as the industries started deploying workers shift-wise and the payment has been assured accordingly.</span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;">As per the agreement reached between the two sides, workers in the formal sector will get full salary for the month of Chaitra. Meanwhile, the salary of Baishakh and Jestha will be reduced by 50 percent despite the workers being unable to attend office due to lockdown.&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;">With this agreement, the long standing issue of payment in the hotel industry, restaurants, as well as other organisations has come 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:&quot;Arial Unicode MS&quot;">The bilateral agreement between the employers and the trade unions will be submitted to a task force under the Ministry of Labour, Employment and Social Security, informed Bharat Raj Acharya, deputy chairman of the Employment Council.</span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;">The ministry had formed the task force to sort out the payment issue during lockdown. The task force had held several rounds of meeting with both sides but failed to resolve the issue. It then instructed the warring sides to sort out the contentious issue themselves.</span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;">Representatives of the employers led by chairman of the Employment Council of the Federation of Nepalese Chambers of Commerce and Industry (FNCCI) Chandra Prasad Dhakal had been relentlessly trying to settle the issue amicably.</span></span></span></span></p>

<p><span 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, vice chairman Acharya said that it is not possible to create new employment opportunities at the moment while it is also imperative to ensure the welfare of workers involved in the formal sector. In such a situation, the employers have decided to retain the workforce by deploying the workers in different shifts and to ensure minimum payment for them.</span></span></span></span></p>
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	(int) 14 => array(
		'Article' => array(
			'id' => '12248',
			'article_category_id' => '1',
			'title' => 'Over 100 Local Units yet to Present Budget for Current Fiscal Year',
			'sub_title' => '',
			'summary' => 'July 29: A total of 182 local units have failed to present their budget for the current fiscal year to the village council.',
			'content' => '<p><span style="font-size:12pt"><span style="font-family:Cambria"><span style="font-size:14.0pt"><span style="font-family:Calibri">July 29: A total of 182 local units have failed to present their budget for the current fiscal year to the village council.</span></span></span></span></p>

<p><span style="font-size:12pt"><span style="font-family:Cambria"><span style="font-size:14.0pt"><span style="font-family:Calibri">As per the constitutional provision, the local levels should present their budget for the new fiscal year to the village council by June 25. However, 182 local levels have not been able to present their budget yet.</span></span></span></span></p>

<p><span style="font-size:12pt"><span style="font-family:Cambria"><span style="font-size:14.0pt"><span style="font-family:Calibri">According to the Ministry of Federal Affairs and General Administration, a total of 571 local levels have so far presented their budget to the village council for the fiscal year 2077/78 within the deadline set by the constitution.</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">Province 2 in this regard has the highest number of local levels failing to present the budget on time.</span></span></span></span></p>

<p><span style="font-size:12pt"><span style="font-family:Cambria"><span style="font-size:14.0pt"><span style="font-family:Calibri">According to the ministry, 74 local levels of Province 2 are yet to introduce the budget for the current fiscal year. Similarly, 27 local level governments from Province 1 and 25 from Far Western Province have also failed to launch their budget for the current fiscal year.</span></span></span></span></p>

<p><span style="font-size:12pt"><span style="font-family:Cambria"><span style="font-size:14.0pt"><span style="font-family:Calibri">&quot;The Ministry of Federal Affairs has directed the local levels to present their budget. Some of the local levels are not complying with the orders. The Finance Ministry will stop sending grants to such local levels,&quot; informed an official at the finance ministry.</span></span></span></span></p>

<p>&nbsp;</p>
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		'Article' => array(
			'id' => '12261',
			'article_category_id' => '1',
			'title' => 'Internal Dispute of Sunrise Bank resolved',
			'sub_title' => '',
			'summary' => 'July 31: The dispute between the board of directors of Sunrise Bank and the CEO has been resolved for the time being. ',
			'content' => '<p><span style="font-size:12pt"><span style="font-family:Cambria"><span style="font-size:14.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;">July 31: The dispute between the board of directors of Sunrise Bank and the CEO has been resolved for the time being. </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:&quot;Arial Unicode MS&quot;">The dispute had taken unexpected turns after the board allegedly demanded resignation of CEO Janak Sharma Poudel. However, the misunderstanding has been resolved after both sides reached an understanding on Thursday (July 30) to move ahead hand in hand.</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:&quot;Arial Unicode MS&quot;">A board meeting on Thursday decided to take future course of action on mutual understanding. Company Secretary of Sunrise Bank, Ishwar Pokharel, informed that the board meeting took a decision for the welfare of all stakeholders. </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:&quot;Arial Unicode MS&quot;">&ldquo;We have resolved the issue by taking all sides into confidence. Both sides have decided to work together for the welfare of the organisation,&rdquo; said Pathak, adding that the board had sought clarification from CEO Poudel instead of resignation.</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:&quot;Arial Unicode MS&quot;">&ldquo;The board and the CEO have agreed to collaborate to take the bank to new heights,&rdquo; said Pathak.</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:&quot;Arial Unicode MS&quot;">Nepal Rastra Bank had called both sides for discussion recently after the dispute grew out of proportion. The central bank had suggested the board members of the bank to sort out the issue through mutual understanding. An informed source told New Business Age that the board members of the bank decided to collaborate with the CEO fearing intervention by the central bank.</span></span></span></span></p>

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

<p>&nbsp;</p>

<p>&nbsp;</p>

<p>&nbsp;</p>
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	(int) 1 => array(
		'Article' => array(
			'id' => '12258',
			'article_category_id' => '1',
			'title' => 'Government to Seek Financial Assistance from ADB to Mitigate the Risks of Floods and Landslides',
			'sub_title' => '',
			'summary' => 'July 31: The government has decided to seek financial assistance of US$ 50 million (Rs 6 billion) from the Asian Development Bank (ADB) to mitigate the risks of floods and landslides.',
			'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;">July 31: The government has decided to seek financial assistance of US$ 50 million (Rs 6 billion) from the Asian Development Bank (ADB) to mitigate the risks of floods and landslides.</span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;">A meeting of the Council of Ministers has decided to form a talks team headed by joint secretary at the International Financial Assistance Coordination Division for this purpose. </span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;">Minister for Communication and Information Technology Dr Yuba Raj Khatiwada confirmed that the government has formed the team to prepare a work plan for seeking assistance from ADB.</span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;">Minister Khatiwada said that government will seek both loan and grant assistance from ADB.</span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;">Likewise, the government has decided to give 50 percent concession on customs duty to the Food Management and Trade Company Limited and the Salt Trading Limited to import a total of 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;Arial Unicode MS&quot;">The cabinet meeting also decided to take necessary steps to resume schools and educational institutes that have remained closed due to the coronavirus pandemic and the subsequent lockdown.</span></span></span></span></p>

<p>&nbsp;</p>
',
			'published' => true,
			'created' => '2020-07-31',
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			'description' => '',
			'sortorder' => '12006',
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			'article_date' => '2020-07-31 13:45:09',
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	(int) 2 => array(
		'Article' => array(
			'id' => '12257',
			'article_category_id' => '1',
			'title' => 'NAC Permanently Grounds Chinese Aircraft',
			'sub_title' => '',
			'summary' => 'July 31: Nepal Airlines Corporation (NSC) has formally stopped the operation of Chinese aircraft for domestic flights from Thursday (July 30).',
			'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;">July 31: Nepal Airlines Corporation (NSC) has formally stopped the operation of Chinese aircraft for domestic flights from Thursday (July 30).</span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;">Due to its failure to operate the six Chinese aircraft due to high cost and maintenance as well as other factors, a board meeting of the state-owned airline company had earlier decided to permanently ground the aircraft effective from July 30.</span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;">The NAC board has been heavily criticized for purchasing the aircraft under political pressure without conducting proper assessment.</span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;">NAC&rsquo;s stake in the domestic market is currently 3 percent, which is expected to shrink further after grounding the China-made aircraft.</span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;">The government has already decided to resume domestic and international flights from August 17. But the state-owned company now doesn&rsquo;t have adequate aircraft for domestic flights.</span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;">After grounding the six aircraft, NAC now has just three Twin Otters left in its fleet for internal flights. One of them is currently being repaired to the NAC is in a position to operate only two aircraft at the moment.</span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;">NAC Spokesperson Archana Khadka informed that the flag carrier of Nepal will use these two aircraft for domestic flights for the time being.</span></span></span></span></p>

<p><span 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;NAC has formally decided to ground all the Chinese aircraft for domestic flights. Now we will utilize the Twin Otters for domestic flight,&rdquo; said Khadka.</span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;">NAC stated that the Twin Otters with seat capacity of 17 to 19 passengers will provide service to remote areas of the country. However, NAC will not be operating any flights in the main trunk routes with high number of passengers. NAC had been operating the Chinese aircraft in trunk routes like Bhairahawa, Pokhara, Nepalgunj, Dhangadhi, Simara, Biratnagar and Chandragadhi.</span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;">Private companies have been dominating the domestic flight service in the country. Buddha Air, Yeti Airlines and Shree Airlines have strong hold in the domestic flight routes. </span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;">NAC Spokesperson Khadka informed that the company is discussing about procuring new aircraft after it sells off the Chinese planes.</span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;">NAC had to face losses worth Rs 2.3 billion while operating the&nbsp; Chinese aircraft during the last five years.</span></span></span></span></p>

<p>&nbsp;</p>
',
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			'description' => '',
			'sortorder' => '12005',
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	(int) 3 => array(
		'Article' => array(
			'id' => '12259',
			'article_category_id' => '1',
			'title' => 'Importers doubt Effectiveness of Electronic Cargo Tracking System',
			'sub_title' => '',
			'summary' => 'July 31: Nepali importers have suggested that the Electronic Cargo Tracking System (ECTS) being used for transshipment of goods via India is not necessary along the railway route.',
			'content' => '<p><span style="font-size:12pt"><span style="font-family:Cambria"><span style="font-size:14.0pt"><span style="font-family:Calibri">July 31: Nepali importers have suggested that the Electronic Cargo Tracking System (ECTS) being used for transshipment of goods via India is not necessary along the railway route.</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">They also complained that the effectiveness of ECTS, that has been implemented on transshipments of goods imported from Kolkata Port in India, has not been reviewed till date.&nbsp;&nbsp;&nbsp;&nbsp; </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 Ministry of Industry, Commerce and Supplies itself is unclear about the impact of the ECTS even after a year and a half since it came into operation. The ministry earlier had been informed to review the impact of ECTS on transshipment of goods within the first three month of its introduction.</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">ECTS was implemented as a pilot project to facilitate the transshipment of goods for overseas trade at the seaports of India.</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">However, the importers claim additional ECTS is unnecessary along the railway route as it is already being used on containers transported by the trains.</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">At present, a tracking device based on GPS is connected to the container coming from Kolkata port till Birgunj dry port.</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">This system was adopted from February 15, 2019 to remove the paperwork at Kolkata Port.</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 ECTS was implemented to ensure that containers coming from third countries were not misused in India.</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">Even though it is said that the container can be monitored through this device, the service provider has not provided tracking facility to most of the concerned importers.</span></span></span></span></p>

<p>&nbsp;</p>
',
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			'created' => '2020-07-31',
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			'keywords' => '',
			'description' => '',
			'sortorder' => '12004',
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	(int) 4 => array(
		'Article' => array(
			'id' => '12256',
			'article_category_id' => '1',
			'title' => 'Import of Gold Lowest in 5 Years',
			'sub_title' => '',
			'summary' => 'July 30: The lockdown imposed by the government to contain the spread of coronavirus and the increase in price of gold in the international market led to a drastic fall in import of the precious yellow metal during the last fiscal year.',
			'content' => '<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;">July 30: The lockdown imposed by the government to contain the spread of coronavirus and the increase in price of gold in the international market led to a drastic fall in import of the precious yellow metal during 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 the data maintained by the Department of Customs, the import of gold in FY 2019/20 was the lowest in the last five years. During the review period, Nepal imported gold worth Rs 13.46 billion, which is 61.11 percent less than the import in the previous fiscal year (2018/19) when the country imported gold worth Rs 34.61 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;">Five years ago, the import of gold was worth Rs 16.7 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;">In the recent years, Nepal had been importing gold worth Rs 30 billion in average every year. But this year, the import of gold declined to a great extent.</span></span></span></span></p>

<p><span 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 terms of quantity, the import of gold declined by 68 percent in the review period compared to the previous fiscal year. In FY 2019/20, Nepal imported 7492 kg of gold while the import in FY 2018/19 was 1400 kg.</span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;">The country didn&rsquo;t import any gold after the government imposed lockdown on March 24. Executive Director of Nepal Banker&rsquo;s Association Anil Sharma told New Business Age that the country hasn&rsquo;t imported gold after the lockdown was imposed. Banks have stock of 330 kg gold which was imported before the lockdown period. The banks have been supplying gold to the market as per the demand.</span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;">&ldquo;Dealers have stopped buying gold due to the increase in price,&rdquo; said Sharma, adding that hardly 1 kg of gold gets sold in a day.</span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;">He said that the banks will not import any additional gold until the stock is cleared.</span></span></span></span></p>

<p>&nbsp;</p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;">The price of gold was Rs 60,000 per tola (11 grams approximately) by mid-July 2019. The price has increased to almost Rs 100,000 in about a year. Due to the increase in price of gold, the trade has slumped a lot. Gold dealers themselves have reportedly urged bankers not to import any more gold.</span></span></span></span></p>

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

<p>&nbsp;</p>
',
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			'keywords' => '',
			'description' => '',
			'sortorder' => '12003',
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	(int) 5 => array(
		'Article' => array(
			'id' => '12255',
			'article_category_id' => '1',
			'title' => 'University of Arizona Offers Online Degree in Collaboration with Partner in Nepal',
			'sub_title' => '',
			'summary' => '',
			'content' => '<p><span style="font-size:20px"><span style="font-family:Arial">July 30: USA-based University of Arizona and rem.work, Kathmandu have announced a coworking space partnership for the concept of &ldquo;Global Campus&rdquo; to help students start or continue a US degree without leaving their home country. </span></span></p>

<p><span style="font-size:20px"><span style="font-family:Arial">A joint statement issued by the two organisation states that rem.work, a leading coworking space provider in Nepal, has created &ldquo;flexible and affordable options&rdquo; with the University of Arizona to allow students to earn a full US degree or US transfer credits. </span></span></p>

<p><span style="font-size:20px"><span style="font-family:Arial">&ldquo;Not only does Global Campus help solve the mobility challenges of today caused by COVID-19, it is a meaningful and long-term effort at meeting the UN Sustainable Development Goal of providing accessible quality education to the world,&rdquo; the statement quoted President of the University of Arizona Robert C Robbins as saying.</span></span></p>

<p><span style="font-size:20px"><span style="font-family:Arial">As universities have increasingly pivoted to offer online learning modalities, coworking spaces have become a pioneering point of access for University of Arizona&rsquo;s global campus degree programs. </span></span></p>

<p><span style="font-size:20px"><span style="font-family:Arial">Enrolling in the University of Arizona through a coworking partner is attractive to mid-career and working professionals looking to up-skill, re-skill, or start a master&rsquo;s program in a safe and professional setting, with access to reliable internet and leading-edge amenities, the statement&nbsp; further said. </span></span></p>

<p><span style="font-size:20px"><span style="font-family:Arial">&ldquo;With a substantial scholarship in place for students in Nepal, this is one of the most flexible and affordable ways to get a fully-accredited U.S. degree from a high-ranking U.S. university, without leaving the country. Tuition covers online classes taught by top-notch Arizona faculty, as well as full access to all current and future rem.work facilities in Nepal,&rdquo; the statement added.</span></span></p>

<p><img alt="" src="/app/webroot/userfiles/images/Global-Campus-TWITTER-15-1.png" style="height:409px; width:545px" /></p>

<p><span style="font-size:20px"><span style="font-family:Arial">According to the statement, the website of the University of Arizona (<a href="https://everywhere.arizona.edu/">everywhere.arizona.edu</a>) presents students with flexible degree path options and guides them to an adviser who can assist in finding a convenient coworking location, and will help the student create a customized degree plan.</span></span></p>

<p><span style="font-size:20px"><span style="font-family:Arial">&ldquo;The events that caused the current situation in international education have hastened the dawn of a new post-mobility world in which physical travel is unnecessary for the creation and transmission of knowledge across borders,&rdquo; said Brent White, vice provost of global affairs at Arizona.</span></span></p>

<p><span style="font-size:20px"><span style="font-family:Arial">&ldquo;Almost overnight, courses have transitioned to online, and international students are continuing to study while remaining safe at home in their own countries. We want to help them achieve their dreams of a U.S. degree, no matter the circumstances.&rdquo;</span></span></p>

<p><span style="font-size:20px"><img alt="" src="/app/webroot/userfiles/images/Global-Campus-FB-10-1.png" style="height:420px; width:800px" /></span></p>

<p>&nbsp;</p>

<p>&nbsp;</p>

<p>&nbsp;</p>
',
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	(int) 6 => array(
		'Article' => array(
			'id' => '12254',
			'article_category_id' => '1',
			'title' => 'Shareholders Worried by Closure of Sri Ram Sugar Mill ',
			'sub_title' => '',
			'summary' => 'July 30: With the announcement of the closure of Shri Ram Sugar Mills, shareholders of the company are worried about losing their investment.',
			'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;">July 30: With the announcement of the closure of Shri Ram Sugar Mills, shareholders of the company are worried about losing their investment. As soon as the company permanently shut down from July 28, the share trading was also closed. </span></span></span></span></p>

<p><span style="font-size:11pt"><span style="font-family:Calibri"><span style="font-size:14.0pt"><span style="font-family:&quot;Times New Roman&quot;">The share transaction of the company was active till Monday, July 27 when 770 units of shares were traded. Each unit of share was traded for Rs 338. </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;">Shareholder Damaruballabh Ghimire said that the company which issued shares 19 years ago, has paid 7-8 percent dividend only once. He said that the shares issued by 67 companies to the public have not returned their investments after their closure. </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 Ghimire, he fears that the shareholders will not get anything as the company will have to pay their staff, farmers, and bank loans by selling their movable and immovable assets. He alleges that private companies are making profit while the public companies are shut down stating that they are at loss. </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;">Companies like Necon Air, Gorakhkali Rubber Industry, Crystal Finance, Basbari Leather Shoe Company, and Nepal Battery have been closed but not a single investor has received their share. Many have kept their certificates safe in the hope of getting their money back. </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 law, the shareholders should get back their investment. When a company is dissolved, </span></span><span style="font-size:14.0pt"><span style="font-family:&quot;Times New Roman&quot;">the first priority should be given to the workers and employees of the industry while paying the liability of the company. The remaining amount is then used for repaying the loan and liquidator&rsquo;s remuneration. The amount paid to sugarcane farmers by Shri Ram Sugar Mills should also be given priority. The investors will get back their investment only after paying off these amount. </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;">However, even after selling all the assets of the mills, it is said that it is difficult to pay the investors. Spokesperson of Nepal Stock Exchange (NEPSE) Murari Parajuli said that it is uncertain whether Sri Ram Mills can return the investment of the shareholders or not. He said that if the liquidator orders the dismissal of the company, NEPSE will use the power of the market operator to determine whether the shareholders have been given priority or not. </span></span></span></span></p>

<p><span style="font-size:11pt"><span style="font-family:Calibri"><span style="font-size:14.0pt"><span style="font-family:&quot;Times New Roman&quot;">Due to lack of capital, the company has not been able to pay the amount and remuneration of the employees working in the industry for the last four months. The company said it would pay the amount from the sale of movable property. The management of the company has already started the process for the necessary permission from the Government of Nepal in this regard. </span></span></span></span></p>

<p><span style="font-size:11pt"><span style="font-family:Calibri"><span style="font-size:14.0pt"><span style="font-family:&quot;Times New Roman&quot;">The company&rsquo;s 3.45 million units of share are listed in the secondary market of security deposit worth Rs 304.5 million. </span></span></span></span></p>
',
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			'keywords' => '',
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	(int) 7 => array(
		'Article' => array(
			'id' => '12252',
			'article_category_id' => '1',
			'title' => 'Hotel Industry Formally Resumes Service',
			'sub_title' => '',
			'summary' => 'July 30: Hotels and restaurants have formally reopened from today after the government lifted a ban on operating hotel industry effective from July 30. ',
			'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;">July 30: Hotels and restaurants have formally reopened from today after the government lifted a ban on operating hotel industry effective from July 30. </span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;">Trekking agencies, travel and expedition companies have resumed their service targeting the peak season. However, the hotel entrepreneurs are worried about the uncertainty of the protocol set by the health ministry. They say that the government has not made any clear criteria regarding foreign tourists and therefore they are a little hesitant. The government has not set clear criteria about handling the foreign visitors after PCR test. They argue that the foreign tourists do not visit Nepal to stay in quarantine for 14 days. But the government is not clear about this provision, informed Srijana Rana, president of Hotel Association of Nepal.</span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;">Although the protocol issued by the ministry has defined the dos and don&rsquo;ts for hotels, restaurants, airline companies and all the businesses associated with tourists, it doesn&rsquo;t mention anything about tourists. </span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;">Senior Vice President of HAN Binayak Shah says tourists cannot visit Nepal in this context even if they are willing to come here.</span></span></span></span></p>
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			'description' => '',
			'sortorder' => '12000',
			'image' => '20200730023507_20200504104410_20190511105700_Clipboard37 2.jpg',
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	(int) 8 => array(
		'Article' => array(
			'id' => '12253',
			'article_category_id' => '1',
			'title' => 'Extreme Shortage of Urea across the Country',
			'sub_title' => 'Farmers have not received the required amount of urea fertilizer even though paddy plantation is already done.',
			'summary' => 'July 30: Framers across Nepal are facing an acute shortage of urea fertilizer as 21,500 metric tons of the fertilizer is currently stuck at Kandla port in Gujarat, India.',
			'content' => '<p><span style="font-size:20px"><span style="font-family:Cambria"><span style="font-family:Calibri">July 30: Framers across Nepal are facing an acute shortage of urea fertilizer as 21,500 metric tons of the fertilizer is currently stuck at Kandla port in Gujarat, India.</span></span></span></p>

<p><span style="font-size:20px"><span style="font-family:Cambria"><span style="font-family:Calibri">According to agriculture department, a total of 40,000 metric tons of urea fertilizer is required for the period of one month from July to August during paddy plantation. However, only 1,060 metric tons of urea stock is currently available in the country. The agro-products suppliers and Salt Trading Corporation distribute the fertilizers to farmers in Nepal and are currently running out of stock.</span></span></span></p>

<p><span style="font-size:20px"><span style="font-family:Cambria"><span style="font-family:Calibri">Similarly, the country currently has 12,800 and 2,500 metric tons of DAP and Potassium respectively.</span></span></span></p>

<p><span style="font-size:20px"><span style="font-family:Cambria"><span style="font-family:Calibri">However, demand of Urea is higher than DAP during the paddy plantation season. &nbsp;</span></span></span></p>

<p><span style="font-size:20px"><span style="font-family:Cambria"><span style="font-family:Calibri">Pankaj Joshi, assistant general manager of Salt Trading Corporation informed that it may take another month for the 21,500 metric tons of urea fertilizer stopped at Kandla port to reach Nepal.</span></span></span></p>

<p><span style="font-size:20px"><span style="font-family:Cambria"><span style="font-family:Calibri">At present, paddy plantation has been completed across the country. However, farmers are worried that the lack of urea fertilizer might affect their plantation, informed Chitra Bahadur Shrestha, chairman of the National Farmers Commission.</span></span></span></p>

<p><span style="font-size:20px"><span style="font-family:Cambria"><span style="font-family:Calibri">He added that the government has failed to provide fertilizer to the farmers in time. &quot;If chemical fertilizers are not used regularly, it can affect production,&quot; he adds.</span></span></span></p>

<p>&nbsp;</p>
',
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			'description' => '',
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	(int) 9 => array(
		'Article' => array(
			'id' => '12251',
			'article_category_id' => '1',
			'title' => 'Most of the Donor Agencies yet to Respond to Government’s Request for Moratorium Period',
			'sub_title' => '',
			'summary' => 'July 30: The government has requested donor agencies for moratorium period due to its inability repay loan because of coronavirus pandemic but most of the donor agencies have not taken any decision in granting this facility to 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;">July 30: The government has requested donor agencies for moratorium period due to its inability repay loan because of coronavirus pandemic but most of the donor agencies have not taken any decision in granting this facility to Nepal.</span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;">According to a highly-placed source at the Ministry of Finance, although Finance Minister Yuba Raj Khatiwada has been lobbying with the donor agencies to postpone the date of loan repayment,&nbsp; only Japan has responded positively.</span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;">The finance ministry confirmed that Japan has agreed to extend the date of loan repayment without any conditions while other donors have only given assurance to the government.</span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;">Officials at the Ministry of Finance say that the government is liable to pay a total of Rs 23 billion to the donor agencies between mid-April to mid-December 2020. </span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;">The government has to pay Rs 1.88 billion, including loan and interest, to India during this period while the outstanding amount to China is Rs 550 million and Rs 160 million to Saudi Arabia.</span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;">Likewise, the government needs to repay Rs 10.83 billion to Asian Development Bank and Rs 6.97 billion to the World Bank as loan and interest.</span></span></span></span></p>

<p><span 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 finance ministry, Japan has approved unconditional support to extend the time period for loan repayment by three years.</span></span></span></span></p>

<p><span 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;No other donor agency besides Japan has given us any such facility,&rdquo; said the source requesting anonymity.</span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;">With the commitment from Japan, the government will not face the burden or repaying Rs 780 million for the time being. Officials at the ministry say that the government has been trying to seek moratorium period from India as well but the southern neighbor has not responded yet.</span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;">Meanwhile, China has proposed certain conditions for similar request from the government of Nepal, informed the source. Although China has shown interest to extend the date for repayment of loan by 4 years, it has demanded interest for the period. The official said that the rate of interest charged by China is more than the rate charged by other countries. The source said that the government cannot accept the terms and conditions put forward by China.</span></span></span></span></p>

<p>&nbsp;</p>
',
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	(int) 10 => array(
		'Article' => array(
			'id' => '12250',
			'article_category_id' => '1',
			'title' => 'Contempt of Court Case Filed against Food Technology Department',
			'sub_title' => '',
			'summary' => 'July 29: The Supreme Court has issued a show cause notice to the Food Technology and Quality Control Department (FTQCD) for not letting a company import peas into 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;">July 29: The Supreme Court has issued a show cause notice to the Food Technology and Quality Control Department (FTQCD) for not letting a company import peas into Nepal.</span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;">A single bench of justice Bam Kumar Shrestha issued the notice to the department on Tuesday (July 29) to furnish reason behind its act. Kalwar Agro Industries had filed a contempt of court case at the Supreme Court against the department, arguing that the department did not comply with the apex court order issued earlier.</span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;">The Supreme Court had earlier issued an order not to stop the import of goods if the importer has fulfilled all necessary processes.</span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;">The importer had reached the department with the verdict for customs clearance of the goods but the government officials denied permission to the company to import the goods.</span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;">The Supreme Court has issued the fresh notice against Director General of the FTQCD Manita Joshi Baidhya asking for valid reasons why the importer cannot import the items.</span></span></span></span></p>

<p><span style="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 imposed a ban on import of peas, pepper, betel nuts and dates on March 29. The order was published in Nepal Gazette on April 6. The importer has been demanding release of the peas that were in the process of import before the government imposed the ban.</span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;">The department has maintained that the importer needs to take prior permission for import of such items and that the department cannot release the goods because of government order.</span></span></span></span></p>

<p>&nbsp;</p>
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	(int) 11 => array(
		'Article' => array(
			'id' => '12249',
			'article_category_id' => '1',
			'title' => 'Construction of Pokhara Airport Resumes in Full Fledge',
			'sub_title' => '',
			'summary' => 'July 29: The construction of Pokhara Regional Airport, which was affected by the lockdown imposed to curb coronavirus, has now gained momentum once again.',
			'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;">July 29: The construction of Pokhara Regional Airport, which was affected by the lockdown imposed to curb coronavirus, has now gained momentum once 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 construction work was halted because of difficulty in bringing in equipment from China and the delay in return of Chinese workers due to coronavirus. With the lifting of the lockdown, the construction work is taking place in war footing.</span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;">The construction company which bagged the project has expedited the work after assurance that the equipment and technicians from China will be available soon.</span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;">A total of 370 workers including 270 Chinese and 100 Nepalese&nbsp; have been deployed for the construction of the airport. </span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;">The project has set a target to complete the work within July 2021. Currently, the work progress is 62 percent, according to Pokhara International Airport Project Chief Binesh Munakarmi.</span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;">He said that they had been continuing work even during lockdown by adopting precautionary measures.</span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;">The airport, which is considered as one of the national pride projects, has so far seen completion of the runway, apron, taxi way, isolated parking, hangar, terminal building and access way.</span></span></span></span></p>

<p><span 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 project chief Munakarmi, they are in the final phase of completing other buildings while other works are still remaining.</span></span></span></span></p>

<p><span 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 Chinese workers who had returned home to celebrate the new year in January were stranded after confirmation of coronavirus in Wuhan of China. After the lockdown was lifted in China in March, we were able to bring 107 Chinese workers and resume the work,&rdquo; he said.</span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;">Meanwhile, senior engineer Krishna Prasad Poudel informed that the construction of the runway, which is considered as the main work, was completed a year ago and now they are focusing on other infrastructural 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;">Poudel added that the 2500-meter runway is the first-of-its-kind in Nepal.</span></span></span></span></p>
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	(int) 12 => array(
		'Article' => array(
			'id' => '12247',
			'article_category_id' => '1',
			'title' => 'Transport Entrepreneurs Preparing to Reduce Number of Vehicles ',
			'sub_title' => '',
			'summary' => 'July 29: Private transport companies that have been operating public vehicles since mid-July are preparing to reduce the number of vehicles due to lack of passengers.  ',
			'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;">July 29: Private transport companies that have been operating public vehicles since mid-July are preparing to reduce the number of vehicles due to lack of passengers.&nbsp; </span></span></span></span></p>

<p><span style="font-size:11pt"><span style="font-family:Calibri"><span style="font-size:14.0pt"><span style="font-family:&quot;Times New Roman&quot;">Although the government had allowed carrying half of the seat capacity due to the risk of coronavirus infection, the transport entrepreneurs say that the public vehicles have not received even half passengers. </span></span></span></span></p>

<p><span style="font-size:11pt"><span style="font-family:Calibri"><span style="font-size:14.0pt"><span style="font-family:&quot;Times New Roman&quot;">Despite the government&rsquo;s decision to allow transport entrepreneurs to charge 50 percent more than the normal fare, Sundar Yatayat that has been operating four electric buses in the Valley is rendering its service at the price before the lockdown. </span></span></span></span></p>

<p><span style="font-size:11pt"><span style="font-family:Calibri"><span style="font-size:14.0pt"><span style="font-family:&quot;Times New Roman&quot;">&ldquo;Although we are providing service at the old fare, there are no passengers. Sometimes the bus runs without any passenger on board,&rdquo; chairman of Sundar Yatayat Bhesh Bahadur Thapa said. The company is preparing to run only two buses if the situation remains the same. </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;">Likewise, secretary at Digo Yatayat, Lal Prasad Guragain says that they are also planning to operate only four buses from Sunday if the situation does not improve. The company had planned to operate all 17 buses from the first week of August. </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;">Mahanagar Yatayat, which has a total of 39 buses, has only brought 10 buses in operation. &ldquo;We don&rsquo;t have plans to operate more buses at present we cannot even collect enough money for fuel and staff expense,&rdquo; said chief of Mahanagar Yatayat Keshav Nepal. </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;">Similar is the case with the government owned transport company Sajha Yatayat. The company which has been operating 26 buses from July 16 had planned to operate all 71 buses within a month. However, they have halted the decision. &ldquo;Not even the operating cost is raised, but after the government&rsquo;s decision, we have been operating the buses to give transportation service,&rdquo; Mahendra Pandey, CEO of Sajha Yatayat said. </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;">Saroj Sitaula, general secretary of the Federation of Nepali National Transport Entrepreneurs said that there won&rsquo;t be any difference to transport entrepreneurs if inter-district operation is not allowed. </span></span></span></span></p>

<p>&nbsp;</p>
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	(int) 13 => array(
		'Article' => array(
			'id' => '12246',
			'article_category_id' => '1',
			'title' => 'Payment of Workers During Lockdown Sorted Out',
			'sub_title' => '',
			'summary' => 'July 29: The issue of workers’ payment by industries during the lockdown period has finally been sorted out after 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;">July 29: The issue of workers&rsquo; payment by industries during the lockdown period has finally been sorted out after four months. &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 employers reached an understanding with the umbrella organisation of workers on Tuesday (July 28) for the payment during the Nepali months of Chaitra (mid-March to mid-April), Baishakh and Jestha. </span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;">The payment issue for the month of Ashad (mid-June to mid-July) has not become much of a problem as the industries started deploying workers shift-wise and the payment has been assured accordingly.</span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;">As per the agreement reached between the two sides, workers in the formal sector will get full salary for the month of Chaitra. Meanwhile, the salary of Baishakh and Jestha will be reduced by 50 percent despite the workers being unable to attend office due to lockdown.&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;">With this agreement, the long standing issue of payment in the hotel industry, restaurants, as well as other organisations has come 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:&quot;Arial Unicode MS&quot;">The bilateral agreement between the employers and the trade unions will be submitted to a task force under the Ministry of Labour, Employment and Social Security, informed Bharat Raj Acharya, deputy chairman of the Employment Council.</span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;">The ministry had formed the task force to sort out the payment issue during lockdown. The task force had held several rounds of meeting with both sides but failed to resolve the issue. It then instructed the warring sides to sort out the contentious issue themselves.</span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;">Representatives of the employers led by chairman of the Employment Council of the Federation of Nepalese Chambers of Commerce and Industry (FNCCI) Chandra Prasad Dhakal had been relentlessly trying to settle the issue amicably.</span></span></span></span></p>

<p><span 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, vice chairman Acharya said that it is not possible to create new employment opportunities at the moment while it is also imperative to ensure the welfare of workers involved in the formal sector. In such a situation, the employers have decided to retain the workforce by deploying the workers in different shifts and to ensure minimum payment for them.</span></span></span></span></p>
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		'Article' => array(
			'id' => '12248',
			'article_category_id' => '1',
			'title' => 'Over 100 Local Units yet to Present Budget for Current Fiscal Year',
			'sub_title' => '',
			'summary' => 'July 29: A total of 182 local units have failed to present their budget for the current fiscal year to the village council.',
			'content' => '<p><span style="font-size:12pt"><span style="font-family:Cambria"><span style="font-size:14.0pt"><span style="font-family:Calibri">July 29: A total of 182 local units have failed to present their budget for the current fiscal year to the village council.</span></span></span></span></p>

<p><span style="font-size:12pt"><span style="font-family:Cambria"><span style="font-size:14.0pt"><span style="font-family:Calibri">As per the constitutional provision, the local levels should present their budget for the new fiscal year to the village council by June 25. However, 182 local levels have not been able to present their budget yet.</span></span></span></span></p>

<p><span style="font-size:12pt"><span style="font-family:Cambria"><span style="font-size:14.0pt"><span style="font-family:Calibri">According to the Ministry of Federal Affairs and General Administration, a total of 571 local levels have so far presented their budget to the village council for the fiscal year 2077/78 within the deadline set by the constitution.</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">Province 2 in this regard has the highest number of local levels failing to present the budget on time.</span></span></span></span></p>

<p><span style="font-size:12pt"><span style="font-family:Cambria"><span style="font-size:14.0pt"><span style="font-family:Calibri">According to the ministry, 74 local levels of Province 2 are yet to introduce the budget for the current fiscal year. Similarly, 27 local level governments from Province 1 and 25 from Far Western Province have also failed to launch their budget for the current fiscal year.</span></span></span></span></p>

<p><span style="font-size:12pt"><span style="font-family:Cambria"><span style="font-size:14.0pt"><span style="font-family:Calibri">&quot;The Ministry of Federal Affairs has directed the local levels to present their budget. Some of the local levels are not complying with the orders. The Finance Ministry will stop sending grants to such local levels,&quot; informed an official at the finance ministry.</span></span></span></span></p>

<p>&nbsp;</p>
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			'id' => '12261',
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			'title' => 'Internal Dispute of Sunrise Bank resolved',
			'sub_title' => '',
			'summary' => 'July 31: The dispute between the board of directors of Sunrise Bank and the CEO has been resolved for the time being. ',
			'content' => '<p><span style="font-size:12pt"><span style="font-family:Cambria"><span style="font-size:14.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;">July 31: The dispute between the board of directors of Sunrise Bank and the CEO has been resolved for the time being. </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:&quot;Arial Unicode MS&quot;">The dispute had taken unexpected turns after the board allegedly demanded resignation of CEO Janak Sharma Poudel. However, the misunderstanding has been resolved after both sides reached an understanding on Thursday (July 30) to move ahead hand in hand.</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:&quot;Arial Unicode MS&quot;">A board meeting on Thursday decided to take future course of action on mutual understanding. Company Secretary of Sunrise Bank, Ishwar Pokharel, informed that the board meeting took a decision for the welfare of all stakeholders. </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:&quot;Arial Unicode MS&quot;">&ldquo;We have resolved the issue by taking all sides into confidence. Both sides have decided to work together for the welfare of the organisation,&rdquo; said Pathak, adding that the board had sought clarification from CEO Poudel instead of resignation.</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:&quot;Arial Unicode MS&quot;">&ldquo;The board and the CEO have agreed to collaborate to take the bank to new heights,&rdquo; said Pathak.</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:&quot;Arial Unicode MS&quot;">Nepal Rastra Bank had called both sides for discussion recently after the dispute grew out of proportion. The central bank had suggested the board members of the bank to sort out the issue through mutual understanding. An informed source told New Business Age that the board members of the bank decided to collaborate with the CEO fearing intervention by the central bank.</span></span></span></span></p>

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

<p>&nbsp;</p>

<p>&nbsp;</p>

<p>&nbsp;</p>
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			'id' => '12258',
			'article_category_id' => '1',
			'title' => 'Government to Seek Financial Assistance from ADB to Mitigate the Risks of Floods and Landslides',
			'sub_title' => '',
			'summary' => 'July 31: The government has decided to seek financial assistance of US$ 50 million (Rs 6 billion) from the Asian Development Bank (ADB) to mitigate the risks of floods and landslides.',
			'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;">July 31: The government has decided to seek financial assistance of US$ 50 million (Rs 6 billion) from the Asian Development Bank (ADB) to mitigate the risks of floods and landslides.</span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;">A meeting of the Council of Ministers has decided to form a talks team headed by joint secretary at the International Financial Assistance Coordination Division for this purpose. </span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;">Minister for Communication and Information Technology Dr Yuba Raj Khatiwada confirmed that the government has formed the team to prepare a work plan for seeking assistance from ADB.</span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;">Minister Khatiwada said that government will seek both loan and grant assistance from ADB.</span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;">Likewise, the government has decided to give 50 percent concession on customs duty to the Food Management and Trade Company Limited and the Salt Trading Limited to import a total of 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;Arial Unicode MS&quot;">The cabinet meeting also decided to take necessary steps to resume schools and educational institutes that have remained closed due to the coronavirus pandemic and the subsequent lockdown.</span></span></span></span></p>

<p>&nbsp;</p>
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			'id' => '12257',
			'article_category_id' => '1',
			'title' => 'NAC Permanently Grounds Chinese Aircraft',
			'sub_title' => '',
			'summary' => 'July 31: Nepal Airlines Corporation (NSC) has formally stopped the operation of Chinese aircraft for domestic flights from Thursday (July 30).',
			'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;">July 31: Nepal Airlines Corporation (NSC) has formally stopped the operation of Chinese aircraft for domestic flights from Thursday (July 30).</span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;">Due to its failure to operate the six Chinese aircraft due to high cost and maintenance as well as other factors, a board meeting of the state-owned airline company had earlier decided to permanently ground the aircraft effective from July 30.</span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;">The NAC board has been heavily criticized for purchasing the aircraft under political pressure without conducting proper assessment.</span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;">NAC&rsquo;s stake in the domestic market is currently 3 percent, which is expected to shrink further after grounding the China-made aircraft.</span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;">The government has already decided to resume domestic and international flights from August 17. But the state-owned company now doesn&rsquo;t have adequate aircraft for domestic flights.</span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;">After grounding the six aircraft, NAC now has just three Twin Otters left in its fleet for internal flights. One of them is currently being repaired to the NAC is in a position to operate only two aircraft at the moment.</span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;">NAC Spokesperson Archana Khadka informed that the flag carrier of Nepal will use these two aircraft for domestic flights for the time being.</span></span></span></span></p>

<p><span 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;NAC has formally decided to ground all the Chinese aircraft for domestic flights. Now we will utilize the Twin Otters for domestic flight,&rdquo; said Khadka.</span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;">NAC stated that the Twin Otters with seat capacity of 17 to 19 passengers will provide service to remote areas of the country. However, NAC will not be operating any flights in the main trunk routes with high number of passengers. NAC had been operating the Chinese aircraft in trunk routes like Bhairahawa, Pokhara, Nepalgunj, Dhangadhi, Simara, Biratnagar and Chandragadhi.</span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;">Private companies have been dominating the domestic flight service in the country. Buddha Air, Yeti Airlines and Shree Airlines have strong hold in the domestic flight routes. </span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;">NAC Spokesperson Khadka informed that the company is discussing about procuring new aircraft after it sells off the Chinese planes.</span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;">NAC had to face losses worth Rs 2.3 billion while operating the&nbsp; Chinese aircraft during the last five years.</span></span></span></span></p>

<p>&nbsp;</p>
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			'article_category_id' => '1',
			'title' => 'Importers doubt Effectiveness of Electronic Cargo Tracking System',
			'sub_title' => '',
			'summary' => 'July 31: Nepali importers have suggested that the Electronic Cargo Tracking System (ECTS) being used for transshipment of goods via India is not necessary along the railway route.',
			'content' => '<p><span style="font-size:12pt"><span style="font-family:Cambria"><span style="font-size:14.0pt"><span style="font-family:Calibri">July 31: Nepali importers have suggested that the Electronic Cargo Tracking System (ECTS) being used for transshipment of goods via India is not necessary along the railway route.</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">They also complained that the effectiveness of ECTS, that has been implemented on transshipments of goods imported from Kolkata Port in India, has not been reviewed till date.&nbsp;&nbsp;&nbsp;&nbsp; </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 Ministry of Industry, Commerce and Supplies itself is unclear about the impact of the ECTS even after a year and a half since it came into operation. The ministry earlier had been informed to review the impact of ECTS on transshipment of goods within the first three month of its introduction.</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">ECTS was implemented as a pilot project to facilitate the transshipment of goods for overseas trade at the seaports of India.</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">However, the importers claim additional ECTS is unnecessary along the railway route as it is already being used on containers transported by the trains.</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">At present, a tracking device based on GPS is connected to the container coming from Kolkata port till Birgunj dry port.</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">This system was adopted from February 15, 2019 to remove the paperwork at Kolkata Port.</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 ECTS was implemented to ensure that containers coming from third countries were not misused in India.</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">Even though it is said that the container can be monitored through this device, the service provider has not provided tracking facility to most of the concerned importers.</span></span></span></span></p>

<p>&nbsp;</p>
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			'id' => '12256',
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			'title' => 'Import of Gold Lowest in 5 Years',
			'sub_title' => '',
			'summary' => 'July 30: The lockdown imposed by the government to contain the spread of coronavirus and the increase in price of gold in the international market led to a drastic fall in import of the precious yellow metal during the last fiscal year.',
			'content' => '<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;">July 30: The lockdown imposed by the government to contain the spread of coronavirus and the increase in price of gold in the international market led to a drastic fall in import of the precious yellow metal during 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 the data maintained by the Department of Customs, the import of gold in FY 2019/20 was the lowest in the last five years. During the review period, Nepal imported gold worth Rs 13.46 billion, which is 61.11 percent less than the import in the previous fiscal year (2018/19) when the country imported gold worth Rs 34.61 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;">Five years ago, the import of gold was worth Rs 16.7 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;">In the recent years, Nepal had been importing gold worth Rs 30 billion in average every year. But this year, the import of gold declined to a great extent.</span></span></span></span></p>

<p><span 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 terms of quantity, the import of gold declined by 68 percent in the review period compared to the previous fiscal year. In FY 2019/20, Nepal imported 7492 kg of gold while the import in FY 2018/19 was 1400 kg.</span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;">The country didn&rsquo;t import any gold after the government imposed lockdown on March 24. Executive Director of Nepal Banker&rsquo;s Association Anil Sharma told New Business Age that the country hasn&rsquo;t imported gold after the lockdown was imposed. Banks have stock of 330 kg gold which was imported before the lockdown period. The banks have been supplying gold to the market as per the demand.</span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;">&ldquo;Dealers have stopped buying gold due to the increase in price,&rdquo; said Sharma, adding that hardly 1 kg of gold gets sold in a day.</span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;">He said that the banks will not import any additional gold until the stock is cleared.</span></span></span></span></p>

<p>&nbsp;</p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;">The price of gold was Rs 60,000 per tola (11 grams approximately) by mid-July 2019. The price has increased to almost Rs 100,000 in about a year. Due to the increase in price of gold, the trade has slumped a lot. Gold dealers themselves have reportedly urged bankers not to import any more gold.</span></span></span></span></p>

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

<p>&nbsp;</p>
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			'title' => 'University of Arizona Offers Online Degree in Collaboration with Partner in Nepal',
			'sub_title' => '',
			'summary' => '',
			'content' => '<p><span style="font-size:20px"><span style="font-family:Arial">July 30: USA-based University of Arizona and rem.work, Kathmandu have announced a coworking space partnership for the concept of &ldquo;Global Campus&rdquo; to help students start or continue a US degree without leaving their home country. </span></span></p>

<p><span style="font-size:20px"><span style="font-family:Arial">A joint statement issued by the two organisation states that rem.work, a leading coworking space provider in Nepal, has created &ldquo;flexible and affordable options&rdquo; with the University of Arizona to allow students to earn a full US degree or US transfer credits. </span></span></p>

<p><span style="font-size:20px"><span style="font-family:Arial">&ldquo;Not only does Global Campus help solve the mobility challenges of today caused by COVID-19, it is a meaningful and long-term effort at meeting the UN Sustainable Development Goal of providing accessible quality education to the world,&rdquo; the statement quoted President of the University of Arizona Robert C Robbins as saying.</span></span></p>

<p><span style="font-size:20px"><span style="font-family:Arial">As universities have increasingly pivoted to offer online learning modalities, coworking spaces have become a pioneering point of access for University of Arizona&rsquo;s global campus degree programs. </span></span></p>

<p><span style="font-size:20px"><span style="font-family:Arial">Enrolling in the University of Arizona through a coworking partner is attractive to mid-career and working professionals looking to up-skill, re-skill, or start a master&rsquo;s program in a safe and professional setting, with access to reliable internet and leading-edge amenities, the statement&nbsp; further said. </span></span></p>

<p><span style="font-size:20px"><span style="font-family:Arial">&ldquo;With a substantial scholarship in place for students in Nepal, this is one of the most flexible and affordable ways to get a fully-accredited U.S. degree from a high-ranking U.S. university, without leaving the country. Tuition covers online classes taught by top-notch Arizona faculty, as well as full access to all current and future rem.work facilities in Nepal,&rdquo; the statement added.</span></span></p>

<p><img alt="" src="/app/webroot/userfiles/images/Global-Campus-TWITTER-15-1.png" style="height:409px; width:545px" /></p>

<p><span style="font-size:20px"><span style="font-family:Arial">According to the statement, the website of the University of Arizona (<a href="https://everywhere.arizona.edu/">everywhere.arizona.edu</a>) presents students with flexible degree path options and guides them to an adviser who can assist in finding a convenient coworking location, and will help the student create a customized degree plan.</span></span></p>

<p><span style="font-size:20px"><span style="font-family:Arial">&ldquo;The events that caused the current situation in international education have hastened the dawn of a new post-mobility world in which physical travel is unnecessary for the creation and transmission of knowledge across borders,&rdquo; said Brent White, vice provost of global affairs at Arizona.</span></span></p>

<p><span style="font-size:20px"><span style="font-family:Arial">&ldquo;Almost overnight, courses have transitioned to online, and international students are continuing to study while remaining safe at home in their own countries. We want to help them achieve their dreams of a U.S. degree, no matter the circumstances.&rdquo;</span></span></p>

<p><span style="font-size:20px"><img alt="" src="/app/webroot/userfiles/images/Global-Campus-FB-10-1.png" style="height:420px; width:800px" /></span></p>

<p>&nbsp;</p>

<p>&nbsp;</p>

<p>&nbsp;</p>
',
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			'created' => '2020-07-30',
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			'description' => '',
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	(int) 6 => array(
		'Article' => array(
			'id' => '12254',
			'article_category_id' => '1',
			'title' => 'Shareholders Worried by Closure of Sri Ram Sugar Mill ',
			'sub_title' => '',
			'summary' => 'July 30: With the announcement of the closure of Shri Ram Sugar Mills, shareholders of the company are worried about losing their investment.',
			'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;">July 30: With the announcement of the closure of Shri Ram Sugar Mills, shareholders of the company are worried about losing their investment. As soon as the company permanently shut down from July 28, the share trading was also closed. </span></span></span></span></p>

<p><span style="font-size:11pt"><span style="font-family:Calibri"><span style="font-size:14.0pt"><span style="font-family:&quot;Times New Roman&quot;">The share transaction of the company was active till Monday, July 27 when 770 units of shares were traded. Each unit of share was traded for Rs 338. </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;">Shareholder Damaruballabh Ghimire said that the company which issued shares 19 years ago, has paid 7-8 percent dividend only once. He said that the shares issued by 67 companies to the public have not returned their investments after their closure. </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 Ghimire, he fears that the shareholders will not get anything as the company will have to pay their staff, farmers, and bank loans by selling their movable and immovable assets. He alleges that private companies are making profit while the public companies are shut down stating that they are at loss. </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;">Companies like Necon Air, Gorakhkali Rubber Industry, Crystal Finance, Basbari Leather Shoe Company, and Nepal Battery have been closed but not a single investor has received their share. Many have kept their certificates safe in the hope of getting their money back. </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 law, the shareholders should get back their investment. When a company is dissolved, </span></span><span style="font-size:14.0pt"><span style="font-family:&quot;Times New Roman&quot;">the first priority should be given to the workers and employees of the industry while paying the liability of the company. The remaining amount is then used for repaying the loan and liquidator&rsquo;s remuneration. The amount paid to sugarcane farmers by Shri Ram Sugar Mills should also be given priority. The investors will get back their investment only after paying off these amount. </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;">However, even after selling all the assets of the mills, it is said that it is difficult to pay the investors. Spokesperson of Nepal Stock Exchange (NEPSE) Murari Parajuli said that it is uncertain whether Sri Ram Mills can return the investment of the shareholders or not. He said that if the liquidator orders the dismissal of the company, NEPSE will use the power of the market operator to determine whether the shareholders have been given priority or not. </span></span></span></span></p>

<p><span style="font-size:11pt"><span style="font-family:Calibri"><span style="font-size:14.0pt"><span style="font-family:&quot;Times New Roman&quot;">Due to lack of capital, the company has not been able to pay the amount and remuneration of the employees working in the industry for the last four months. The company said it would pay the amount from the sale of movable property. The management of the company has already started the process for the necessary permission from the Government of Nepal in this regard. </span></span></span></span></p>

<p><span style="font-size:11pt"><span style="font-family:Calibri"><span style="font-size:14.0pt"><span style="font-family:&quot;Times New Roman&quot;">The company&rsquo;s 3.45 million units of share are listed in the secondary market of security deposit worth Rs 304.5 million. </span></span></span></span></p>
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	(int) 7 => array(
		'Article' => array(
			'id' => '12252',
			'article_category_id' => '1',
			'title' => 'Hotel Industry Formally Resumes Service',
			'sub_title' => '',
			'summary' => 'July 30: Hotels and restaurants have formally reopened from today after the government lifted a ban on operating hotel industry effective from July 30. ',
			'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;">July 30: Hotels and restaurants have formally reopened from today after the government lifted a ban on operating hotel industry effective from July 30. </span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;">Trekking agencies, travel and expedition companies have resumed their service targeting the peak season. However, the hotel entrepreneurs are worried about the uncertainty of the protocol set by the health ministry. They say that the government has not made any clear criteria regarding foreign tourists and therefore they are a little hesitant. The government has not set clear criteria about handling the foreign visitors after PCR test. They argue that the foreign tourists do not visit Nepal to stay in quarantine for 14 days. But the government is not clear about this provision, informed Srijana Rana, president of Hotel Association of Nepal.</span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;">Although the protocol issued by the ministry has defined the dos and don&rsquo;ts for hotels, restaurants, airline companies and all the businesses associated with tourists, it doesn&rsquo;t mention anything about tourists. </span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;">Senior Vice President of HAN Binayak Shah says tourists cannot visit Nepal in this context even if they are willing to come here.</span></span></span></span></p>
',
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			'keywords' => '',
			'description' => '',
			'sortorder' => '12000',
			'image' => '20200730023507_20200504104410_20190511105700_Clipboard37 2.jpg',
			'article_date' => '2020-07-30 14:34:36',
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	(int) 8 => array(
		'Article' => array(
			'id' => '12253',
			'article_category_id' => '1',
			'title' => 'Extreme Shortage of Urea across the Country',
			'sub_title' => 'Farmers have not received the required amount of urea fertilizer even though paddy plantation is already done.',
			'summary' => 'July 30: Framers across Nepal are facing an acute shortage of urea fertilizer as 21,500 metric tons of the fertilizer is currently stuck at Kandla port in Gujarat, India.',
			'content' => '<p><span style="font-size:20px"><span style="font-family:Cambria"><span style="font-family:Calibri">July 30: Framers across Nepal are facing an acute shortage of urea fertilizer as 21,500 metric tons of the fertilizer is currently stuck at Kandla port in Gujarat, India.</span></span></span></p>

<p><span style="font-size:20px"><span style="font-family:Cambria"><span style="font-family:Calibri">According to agriculture department, a total of 40,000 metric tons of urea fertilizer is required for the period of one month from July to August during paddy plantation. However, only 1,060 metric tons of urea stock is currently available in the country. The agro-products suppliers and Salt Trading Corporation distribute the fertilizers to farmers in Nepal and are currently running out of stock.</span></span></span></p>

<p><span style="font-size:20px"><span style="font-family:Cambria"><span style="font-family:Calibri">Similarly, the country currently has 12,800 and 2,500 metric tons of DAP and Potassium respectively.</span></span></span></p>

<p><span style="font-size:20px"><span style="font-family:Cambria"><span style="font-family:Calibri">However, demand of Urea is higher than DAP during the paddy plantation season. &nbsp;</span></span></span></p>

<p><span style="font-size:20px"><span style="font-family:Cambria"><span style="font-family:Calibri">Pankaj Joshi, assistant general manager of Salt Trading Corporation informed that it may take another month for the 21,500 metric tons of urea fertilizer stopped at Kandla port to reach Nepal.</span></span></span></p>

<p><span style="font-size:20px"><span style="font-family:Cambria"><span style="font-family:Calibri">At present, paddy plantation has been completed across the country. However, farmers are worried that the lack of urea fertilizer might affect their plantation, informed Chitra Bahadur Shrestha, chairman of the National Farmers Commission.</span></span></span></p>

<p><span style="font-size:20px"><span style="font-family:Cambria"><span style="font-family:Calibri">He added that the government has failed to provide fertilizer to the farmers in time. &quot;If chemical fertilizers are not used regularly, it can affect production,&quot; he adds.</span></span></span></p>

<p>&nbsp;</p>
',
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			'description' => '',
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	(int) 9 => array(
		'Article' => array(
			'id' => '12251',
			'article_category_id' => '1',
			'title' => 'Most of the Donor Agencies yet to Respond to Government’s Request for Moratorium Period',
			'sub_title' => '',
			'summary' => 'July 30: The government has requested donor agencies for moratorium period due to its inability repay loan because of coronavirus pandemic but most of the donor agencies have not taken any decision in granting this facility to 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;">July 30: The government has requested donor agencies for moratorium period due to its inability repay loan because of coronavirus pandemic but most of the donor agencies have not taken any decision in granting this facility to Nepal.</span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;">According to a highly-placed source at the Ministry of Finance, although Finance Minister Yuba Raj Khatiwada has been lobbying with the donor agencies to postpone the date of loan repayment,&nbsp; only Japan has responded positively.</span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;">The finance ministry confirmed that Japan has agreed to extend the date of loan repayment without any conditions while other donors have only given assurance to the government.</span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;">Officials at the Ministry of Finance say that the government is liable to pay a total of Rs 23 billion to the donor agencies between mid-April to mid-December 2020. </span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;">The government has to pay Rs 1.88 billion, including loan and interest, to India during this period while the outstanding amount to China is Rs 550 million and Rs 160 million to Saudi Arabia.</span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;">Likewise, the government needs to repay Rs 10.83 billion to Asian Development Bank and Rs 6.97 billion to the World Bank as loan and interest.</span></span></span></span></p>

<p><span 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 finance ministry, Japan has approved unconditional support to extend the time period for loan repayment by three years.</span></span></span></span></p>

<p><span 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;No other donor agency besides Japan has given us any such facility,&rdquo; said the source requesting anonymity.</span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;">With the commitment from Japan, the government will not face the burden or repaying Rs 780 million for the time being. Officials at the ministry say that the government has been trying to seek moratorium period from India as well but the southern neighbor has not responded yet.</span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;">Meanwhile, China has proposed certain conditions for similar request from the government of Nepal, informed the source. Although China has shown interest to extend the date for repayment of loan by 4 years, it has demanded interest for the period. The official said that the rate of interest charged by China is more than the rate charged by other countries. The source said that the government cannot accept the terms and conditions put forward by China.</span></span></span></span></p>

<p>&nbsp;</p>
',
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	(int) 10 => array(
		'Article' => array(
			'id' => '12250',
			'article_category_id' => '1',
			'title' => 'Contempt of Court Case Filed against Food Technology Department',
			'sub_title' => '',
			'summary' => 'July 29: The Supreme Court has issued a show cause notice to the Food Technology and Quality Control Department (FTQCD) for not letting a company import peas into 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;">July 29: The Supreme Court has issued a show cause notice to the Food Technology and Quality Control Department (FTQCD) for not letting a company import peas into Nepal.</span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;">A single bench of justice Bam Kumar Shrestha issued the notice to the department on Tuesday (July 29) to furnish reason behind its act. Kalwar Agro Industries had filed a contempt of court case at the Supreme Court against the department, arguing that the department did not comply with the apex court order issued earlier.</span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;">The Supreme Court had earlier issued an order not to stop the import of goods if the importer has fulfilled all necessary processes.</span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;">The importer had reached the department with the verdict for customs clearance of the goods but the government officials denied permission to the company to import the goods.</span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;">The Supreme Court has issued the fresh notice against Director General of the FTQCD Manita Joshi Baidhya asking for valid reasons why the importer cannot import the items.</span></span></span></span></p>

<p><span style="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 imposed a ban on import of peas, pepper, betel nuts and dates on March 29. The order was published in Nepal Gazette on April 6. The importer has been demanding release of the peas that were in the process of import before the government imposed the ban.</span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;">The department has maintained that the importer needs to take prior permission for import of such items and that the department cannot release the goods because of government order.</span></span></span></span></p>

<p>&nbsp;</p>
',
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	(int) 11 => array(
		'Article' => array(
			'id' => '12249',
			'article_category_id' => '1',
			'title' => 'Construction of Pokhara Airport Resumes in Full Fledge',
			'sub_title' => '',
			'summary' => 'July 29: The construction of Pokhara Regional Airport, which was affected by the lockdown imposed to curb coronavirus, has now gained momentum once again.',
			'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;">July 29: The construction of Pokhara Regional Airport, which was affected by the lockdown imposed to curb coronavirus, has now gained momentum once 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 construction work was halted because of difficulty in bringing in equipment from China and the delay in return of Chinese workers due to coronavirus. With the lifting of the lockdown, the construction work is taking place in war footing.</span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;">The construction company which bagged the project has expedited the work after assurance that the equipment and technicians from China will be available soon.</span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;">A total of 370 workers including 270 Chinese and 100 Nepalese&nbsp; have been deployed for the construction of the airport. </span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;">The project has set a target to complete the work within July 2021. Currently, the work progress is 62 percent, according to Pokhara International Airport Project Chief Binesh Munakarmi.</span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;">He said that they had been continuing work even during lockdown by adopting precautionary measures.</span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;">The airport, which is considered as one of the national pride projects, has so far seen completion of the runway, apron, taxi way, isolated parking, hangar, terminal building and access way.</span></span></span></span></p>

<p><span 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 project chief Munakarmi, they are in the final phase of completing other buildings while other works are still remaining.</span></span></span></span></p>

<p><span 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 Chinese workers who had returned home to celebrate the new year in January were stranded after confirmation of coronavirus in Wuhan of China. After the lockdown was lifted in China in March, we were able to bring 107 Chinese workers and resume the work,&rdquo; he said.</span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;">Meanwhile, senior engineer Krishna Prasad Poudel informed that the construction of the runway, which is considered as the main work, was completed a year ago and now they are focusing on other infrastructural 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;">Poudel added that the 2500-meter runway is the first-of-its-kind in Nepal.</span></span></span></span></p>
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	(int) 12 => array(
		'Article' => array(
			'id' => '12247',
			'article_category_id' => '1',
			'title' => 'Transport Entrepreneurs Preparing to Reduce Number of Vehicles ',
			'sub_title' => '',
			'summary' => 'July 29: Private transport companies that have been operating public vehicles since mid-July are preparing to reduce the number of vehicles due to lack of passengers.  ',
			'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;">July 29: Private transport companies that have been operating public vehicles since mid-July are preparing to reduce the number of vehicles due to lack of passengers.&nbsp; </span></span></span></span></p>

<p><span style="font-size:11pt"><span style="font-family:Calibri"><span style="font-size:14.0pt"><span style="font-family:&quot;Times New Roman&quot;">Although the government had allowed carrying half of the seat capacity due to the risk of coronavirus infection, the transport entrepreneurs say that the public vehicles have not received even half passengers. </span></span></span></span></p>

<p><span style="font-size:11pt"><span style="font-family:Calibri"><span style="font-size:14.0pt"><span style="font-family:&quot;Times New Roman&quot;">Despite the government&rsquo;s decision to allow transport entrepreneurs to charge 50 percent more than the normal fare, Sundar Yatayat that has been operating four electric buses in the Valley is rendering its service at the price before the lockdown. </span></span></span></span></p>

<p><span style="font-size:11pt"><span style="font-family:Calibri"><span style="font-size:14.0pt"><span style="font-family:&quot;Times New Roman&quot;">&ldquo;Although we are providing service at the old fare, there are no passengers. Sometimes the bus runs without any passenger on board,&rdquo; chairman of Sundar Yatayat Bhesh Bahadur Thapa said. The company is preparing to run only two buses if the situation remains the same. </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;">Likewise, secretary at Digo Yatayat, Lal Prasad Guragain says that they are also planning to operate only four buses from Sunday if the situation does not improve. The company had planned to operate all 17 buses from the first week of August. </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;">Mahanagar Yatayat, which has a total of 39 buses, has only brought 10 buses in operation. &ldquo;We don&rsquo;t have plans to operate more buses at present we cannot even collect enough money for fuel and staff expense,&rdquo; said chief of Mahanagar Yatayat Keshav Nepal. </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;">Similar is the case with the government owned transport company Sajha Yatayat. The company which has been operating 26 buses from July 16 had planned to operate all 71 buses within a month. However, they have halted the decision. &ldquo;Not even the operating cost is raised, but after the government&rsquo;s decision, we have been operating the buses to give transportation service,&rdquo; Mahendra Pandey, CEO of Sajha Yatayat said. </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;">Saroj Sitaula, general secretary of the Federation of Nepali National Transport Entrepreneurs said that there won&rsquo;t be any difference to transport entrepreneurs if inter-district operation is not allowed. </span></span></span></span></p>

<p>&nbsp;</p>
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	(int) 13 => array(
		'Article' => array(
			'id' => '12246',
			'article_category_id' => '1',
			'title' => 'Payment of Workers During Lockdown Sorted Out',
			'sub_title' => '',
			'summary' => 'July 29: The issue of workers’ payment by industries during the lockdown period has finally been sorted out after 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;">July 29: The issue of workers&rsquo; payment by industries during the lockdown period has finally been sorted out after four months. &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 employers reached an understanding with the umbrella organisation of workers on Tuesday (July 28) for the payment during the Nepali months of Chaitra (mid-March to mid-April), Baishakh and Jestha. </span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;">The payment issue for the month of Ashad (mid-June to mid-July) has not become much of a problem as the industries started deploying workers shift-wise and the payment has been assured accordingly.</span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;">As per the agreement reached between the two sides, workers in the formal sector will get full salary for the month of Chaitra. Meanwhile, the salary of Baishakh and Jestha will be reduced by 50 percent despite the workers being unable to attend office due to lockdown.&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;">With this agreement, the long standing issue of payment in the hotel industry, restaurants, as well as other organisations has come 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:&quot;Arial Unicode MS&quot;">The bilateral agreement between the employers and the trade unions will be submitted to a task force under the Ministry of Labour, Employment and Social Security, informed Bharat Raj Acharya, deputy chairman of the Employment Council.</span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;">The ministry had formed the task force to sort out the payment issue during lockdown. The task force had held several rounds of meeting with both sides but failed to resolve the issue. It then instructed the warring sides to sort out the contentious issue themselves.</span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;">Representatives of the employers led by chairman of the Employment Council of the Federation of Nepalese Chambers of Commerce and Industry (FNCCI) Chandra Prasad Dhakal had been relentlessly trying to settle the issue amicably.</span></span></span></span></p>

<p><span 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, vice chairman Acharya said that it is not possible to create new employment opportunities at the moment while it is also imperative to ensure the welfare of workers involved in the formal sector. In such a situation, the employers have decided to retain the workforce by deploying the workers in different shifts and to ensure minimum payment for them.</span></span></span></span></p>
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	(int) 14 => array(
		'Article' => array(
			'id' => '12248',
			'article_category_id' => '1',
			'title' => 'Over 100 Local Units yet to Present Budget for Current Fiscal Year',
			'sub_title' => '',
			'summary' => 'July 29: A total of 182 local units have failed to present their budget for the current fiscal year to the village council.',
			'content' => '<p><span style="font-size:12pt"><span style="font-family:Cambria"><span style="font-size:14.0pt"><span style="font-family:Calibri">July 29: A total of 182 local units have failed to present their budget for the current fiscal year to the village council.</span></span></span></span></p>

<p><span style="font-size:12pt"><span style="font-family:Cambria"><span style="font-size:14.0pt"><span style="font-family:Calibri">As per the constitutional provision, the local levels should present their budget for the new fiscal year to the village council by June 25. However, 182 local levels have not been able to present their budget yet.</span></span></span></span></p>

<p><span style="font-size:12pt"><span style="font-family:Cambria"><span style="font-size:14.0pt"><span style="font-family:Calibri">According to the Ministry of Federal Affairs and General Administration, a total of 571 local levels have so far presented their budget to the village council for the fiscal year 2077/78 within the deadline set by the constitution.</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">Province 2 in this regard has the highest number of local levels failing to present the budget on time.</span></span></span></span></p>

<p><span style="font-size:12pt"><span style="font-family:Cambria"><span style="font-size:14.0pt"><span style="font-family:Calibri">According to the ministry, 74 local levels of Province 2 are yet to introduce the budget for the current fiscal year. Similarly, 27 local level governments from Province 1 and 25 from Far Western Province have also failed to launch their budget for the current fiscal year.</span></span></span></span></p>

<p><span style="font-size:12pt"><span style="font-family:Cambria"><span style="font-size:14.0pt"><span style="font-family:Calibri">&quot;The Ministry of Federal Affairs has directed the local levels to present their budget. Some of the local levels are not complying with the orders. The Finance Ministry will stop sending grants to such local levels,&quot; informed an official at the finance ministry.</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