Nepal Signs USD 250 million Loan Agreement with ADB

Jun 02, 2020 0 1 minutes 31 seconds to read

Nepal has signed a USD 250 million (Rs 30 billion aprox.) loan agreement with the Asian Development Bank (ADB) to fight coronavirus.…

Global IME Bank Supports Photojournalists

Jun 01, 2020 0 53 seconds to read

As a part of its corporate social responsibility (CSR), Global IME Bank Limited has provided press jackets to photojournalists working in different districts.…

New Tax Plans for Electric Vehicles Sparks Criticism

Jun 01, 2020 0 2 minutes 2 seconds to read

Since the announcement of tax hike on import of electric vehicles in the Federal Budget for FY2020/21 on may 28, the government has been facing scrutiny from various quarters of the society for the environment un-friendly move with critics saying the hike in taxes has pronounced a death knell for the electric four-wheelers that have grown in popularity over the past two years.…

Sharp Contraction in Commercial Banks' Lending, New Loan Extension Falls to Zero

Jun 01, 2020 0 2 minutes 5 seconds to read

With the dwindling of credit demand due the lockdown imposed by the government, private sector lending of commercial banks has sharply contracted in the last month.…

Disquiet of Business Community Grows with Extension of Lockdown

Jun 01, 2020 0 5 minutes 38 seconds to read

The country’s private sector has raised its voices against the 8th extension of the lockdown till June 14.…

Xiaomi Launches Mi 10 and Mi Note 10 Lite in Nepal

May 31, 2020 0 3 minutes 8 seconds to read

Chinese smartphone brand Xiaomi has launched its two flagship handsets Mi 10 and Mi Note 10 Lite in the Nepali market.…

Rs 1 billion in Fines Waived for Nepali Importers at Kolkata Port

May 31, 2020 0 2 minutes 25 seconds to read

Nepali importers have received waivers of about Rs 1 billion in detention and ground rent at the Kolkata Port for the lockdown…

Over 1,000 DEMAT Accounts Opened during Lockdown

May 31, 2020 0 1 minutes 44 seconds to read

While the stock market has remained closed for the last 69 days due to the lockdown, the number of people opening DEMAT account for share transactions has increased significantly.…

HAN Revise Charges for Covid-19 Quarantine at Hotels

May 31, 2020 0 1 minutes 44 seconds to read

Hotel Association Nepal (HAN) has lowered the charges for providing Covid-19 quarantine facilities at hotels.…

Sunrise Bank and Eazy Care Join Hands

May 30, 2020 0 41 seconds to read

Sunrise Bank Limited has signed an agreement with the online medical site Eazy Care to provide healthcare to its customers.…

Budget Provides an Additional Rs 60 billion Relief to Private Sector: FinMin

May 30, 2020 0 1 minutes 32 seconds to read

Finance Minister Dr Yuba Raj Khatiwada has said that the budget has offered an additional Rs 60 billion in relief to…

‘Budget Traditional, Economic Growth Target Unrealistic’

May 30, 2020 0 7 minutes 40 seconds to read

The Federal Budget for FY2020/21 has drawn mixed reaction from former finance ministers, economists and private sector leaders.…

Arrangements in Budget Inadequate to Revive Economic Activities: Private Sector

May 29, 2020 0 3 minutes 18 seconds to read

The government has dashed the hopes of the country’s private sector that a comprehensive stimulus package will be announced in the Federal Budget for FY2020/21 to kick-start the economic recovery.…

Govt Aims to Create 800,000 Jobs

May 29, 2020 0 3 minutes 11 seconds to read

At a time when unemployment in Nepal has excerberated as a result of sharp increase in the number of Nepalis losing jobs inside and outside the country due to the Covid-19 pandemic, the government has announced new programmes in the Federal Budget for FY2020/21 to create 800,000 jobs.…

Irrigation and Agriculture Sector-focused Programmes Get Priority

May 28, 2020 0 1 minutes 39 seconds to read

The government has prioritised the agriculture sector development by announcing a slew of programmes in the Federal Budget for…

< previous614615616617618619620621622next >

No Laughing Matter

The Sweet Rewards of Power

By Madan Lamsal

. . .
read more »

NEPSE

Notice (8): Undefined variable: file [APP/View/Elements/side_bar.ctp, line 60]Code Context//    $file = 'http://aabhiyan:QUVLg8Wzs2F7G9N7@nepalstock.com.np/api/indexdata.xml';



    if(!$xml = simplexml_load_file($file)){
$viewFile = '/var/www/html/newbusinessage.com/app/View/Elements/side_bar.ctp'
$dataForView = array(
	'articles' => array(
		(int) 0 => array(
			'Article' => array(
				[maximum depth reached]
			)
		),
		(int) 1 => array(
			'Article' => array(
				[maximum depth reached]
			)
		),
		(int) 2 => array(
			'Article' => array(
				[maximum depth reached]
			)
		),
		(int) 3 => array(
			'Article' => array(
				[maximum depth reached]
			)
		),
		(int) 4 => array(
			'Article' => array(
				[maximum depth reached]
			)
		),
		(int) 5 => array(
			'Article' => array(
				[maximum depth reached]
			)
		),
		(int) 6 => array(
			'Article' => array(
				[maximum depth reached]
			)
		),
		(int) 7 => array(
			'Article' => array(
				[maximum depth reached]
			)
		),
		(int) 8 => array(
			'Article' => array(
				[maximum depth reached]
			)
		),
		(int) 9 => array(
			'Article' => array(
				[maximum depth reached]
			)
		),
		(int) 10 => array(
			'Article' => array(
				[maximum depth reached]
			)
		),
		(int) 11 => array(
			'Article' => array(
				[maximum depth reached]
			)
		),
		(int) 12 => array(
			'Article' => array(
				[maximum depth reached]
			)
		),
		(int) 13 => array(
			'Article' => array(
				[maximum depth reached]
			)
		),
		(int) 14 => array(
			'Article' => array(
				[maximum depth reached]
			)
		)
	),
	'current_user' => null,
	'logged_in' => false
)
$articles = array(
	(int) 0 => array(
		'Article' => array(
			'id' => '12104',
			'article_category_id' => '1',
			'title' => 'Nepal Signs USD 250 million Loan Agreement with ADB ',
			'sub_title' => '',
			'summary' => 'Nepal has signed a USD 250 million (Rs 30 billion aprox.) loan agreement with the Asian Development Bank (ADB) to fight coronavirus. ',
			'content' => '<p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif"><span style="font-size:15.0pt"><span style="font-family:&quot;Cambria&quot;,serif">Nepal has signed a USD 250 million (Rs 30 billion aprox.) loan agreement with the Asian Development Bank (ADB) to fight coronavirus. Finance Secretary Sishir Kumar Dhungana, and Mukhtor Khamudkhanov, ADB Country Director for Nepal signed agreement papers amid a function organised at the Ministry of Finance (ADB) on June 1. Finance Minister Dr Yuba Raj Khatiwada and other high officials of the government and ADB were present during the function. As per the agreement, the Manila-based lender will lend the money to Nepal under its COVID-19 Active Response and Expenditure Support (CARES) Programme. </span></span></span></span></p>

<p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif"><span style="font-size:15.0pt"><span style="font-family:&quot;Cambria&quot;,serif">ADB will provide the concessional loan as a budgetary support to help the government to strengthen the country&rsquo;s public health infrastructure. The loan will be utilised in scaling up testing, tracing and tracking of Covid-19 cases, establishing isolation facilities across the country and strengthening existing hospitals and health centres in terms of equipment, medicine and workforce. Similarly, ADB will also support Nepal &nbsp;to mitigate the adverse economic and social impacts of the Covid-19 pandemic through its CARES Programme.</span></span><br />
<span style="font-size:15.0pt"><span style="font-family:&quot;Cambria&quot;,serif">Speaking on the occasion Finance Secretary Dhungana said, &ldquo;This loan will be mobilized through the National Relief Programme of the government which targets to enhance public health system, provide social security and generate employment to face the challenges presented by the Covid-19 pandemic.&rdquo; ADB country director for Nepal Khamudkhanov reiterated the bank&rsquo;s commitment to support Nepal during difficult times.&nbsp;&nbsp;</span></span></span></span></p>
',
			'published' => true,
			'created' => '2020-06-02',
			'modified' => '2020-06-02',
			'keywords' => '',
			'description' => '',
			'sortorder' => '11852',
			'image' => '20200602102341_Nepal-ADB.jpg',
			'article_date' => '2020-06-02 10:21:40',
			'homepage' => false,
			'breaking_news' => false,
			'main_news' => true,
			'in_scroller' => null,
			'user_id' => '31'
		)
	),
	(int) 1 => array(
		'Article' => array(
			'id' => '12103',
			'article_category_id' => '1',
			'title' => 'Global IME Bank Supports Photojournalists  ',
			'sub_title' => '',
			'summary' => 'As a part of its corporate social responsibility (CSR), Global IME Bank Limited has provided press jackets to photojournalists working in different districts. ',
			'content' => '<p><span style="font-size:12pt"><span style="font-family:&quot;Times New Roman&quot;,serif"><span style="font-size:15.0pt"><span style="font-family:&quot;Cambria&quot;,serif">As a part of its corporate social responsibility (CSR), Global IME Bank Limited has provided press jackets to photojournalists working in different districts. The bank&rsquo;s Deputy General Manager Surendra Raj Regmi handed over the jackets to Dhruv Ale, president of Federation of Nepalese Photojournalist (FNPJ) amid a programme organised at Global IME&rsquo;s head office in Kamaladi on May 31. </span></span></span></span></p>

<p><span style="font-size:12pt"><span style="font-family:&quot;Times New Roman&quot;,serif"><span style="font-size:15.0pt"><span style="font-family:&quot;Cambria&quot;,serif">&ldquo;We expect that the press jackets will make the works of photojournalists easier in the current difficult situation,&rdquo; a statement issued by the bank quoted Regmi as saying. NFPJ President Ale thanked Global IME Bank for its support and said that the jackets would make safer for photojournalists to discharge their professional duties. </span></span></span></span></p>
',
			'published' => true,
			'created' => '2020-06-01',
			'modified' => '2020-06-01',
			'keywords' => '',
			'description' => '',
			'sortorder' => '11851',
			'image' => '20200601053453_Global IME.jpg',
			'article_date' => '2020-06-01 17:33:45',
			'homepage' => false,
			'breaking_news' => false,
			'main_news' => false,
			'in_scroller' => null,
			'user_id' => '31'
		)
	),
	(int) 2 => array(
		'Article' => array(
			'id' => '12102',
			'article_category_id' => '1',
			'title' => 'New Tax Plans for Electric Vehicles Sparks Criticism',
			'sub_title' => '',
			'summary' => 'Since the announcement of tax hike  on import of electric vehicles in the Federal Budget for FY2020/21 on may 28, the government has been facing scrutiny from various quarters of the society for the environment un-friendly move with critics saying the hike in taxes has pronounced a death knell for the electric four-wheelers that have grown in popularity over the past two years. ',
			'content' => '<p><span style="font-size:12pt"><span style="font-family:&quot;Times New Roman&quot;,serif"><span style="font-size:15.0pt"><span style="font-family:&quot;Cambria&quot;,serif">Since the announcement of tax hike&nbsp; on import of electric vehicles in the Federal Budget for FY2020/21 on May 28, the government has been facing scrutiny from various quarters of the society for the environment un-friendly move with critics saying the hike in taxes has pronounced a death knell for the electric four-wheelers that have grown in popularity over the past two years. In his budget speech, Finance Minister Dr Yuba Raj Khatiwada announced that electric vehicles will be levied 30-80 percent customs duty and 5-80 percent excise duty, depending upon the capacity of the four-wheelers. As per earlier arrangements, importers were required to pay 10 percent in customs duty and 13 percent in value added tax (VAT). </span></span></span></span></p>

<p><span style="font-size:12pt"><span style="font-family:&quot;Times New Roman&quot;,serif"><span style="font-size:15.0pt"><span style="font-family:&quot;Cambria&quot;,serif">Nepal Automobile Dealers Association (NADA) is the latest organisation to raise its voice against the massive increment of the tax rates. Issuing a press statement, the association said that the tax hike will make electric vehicles as costlier as internal combustion engine vehicles and hence will be less attractive to car buyers. &ldquo;The </span></span><span style="font-size:15.0pt"><span style="font-family:&quot;Cambria&quot;,serif">proposed tax will make the electric vehicles more expensive for the general people. It will ultimately hinder the government&rsquo;s policy to promote eco-friendly transport,&rdquo; reads the statement. Similarly, NADA also urged the government to ease the lockdown so that people can return to their business and work. &ldquo;Economic activities have been severely affected to the protracted closure. Now business activities need to be resumed by following health safety standards,&rdquo; NADA said. </span></span></span></span></p>

<p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif"><span style="font-size:15.0pt"><span style="font-family:&quot;Cambria&quot;,serif">In the meantime, three organisations have also asked the government to scrap the taxes imposed on import of electric vehicles. In a joint statement, Electric Vehicle Association of Nepal (EVAN), Nepal Forum of Environmental Journalists (NFEEJ) and Clean Energy Nepal (CEN) said that the new budgetary arrangements will discourage electric vehicles and promote fossil fuel run vehicles. </span></span></span></span></p>

<p>&nbsp;</p>
',
			'published' => true,
			'created' => '2020-06-01',
			'modified' => '2020-06-01',
			'keywords' => '',
			'description' => '',
			'sortorder' => '11850',
			'image' => '20200601050236_electric car.jpg',
			'article_date' => '2020-06-01 16:52:31',
			'homepage' => false,
			'breaking_news' => false,
			'main_news' => true,
			'in_scroller' => null,
			'user_id' => '31'
		)
	),
	(int) 3 => array(
		'Article' => array(
			'id' => '12101',
			'article_category_id' => '1',
			'title' => 'Sharp Contraction in Commercial Banks' Lending, New Loan Extension Falls to Zero',
			'sub_title' => '',
			'summary' => 'With the dwindling of credit demand due the lockdown imposed by the government, private sector lending of commercial banks has sharply contracted in the last month. ',
			'content' => '<h2><span style="font-size:18pt"><span style="font-family:&quot;Times New Roman&quot;,serif"><span style="font-size:16.0pt"><span style="font-family:&quot;Cambria&quot;,serif">With the dwindling of credit demand due the lockdown imposed by the government, private sector lending of commercial banks has sharply contracted in the last month. According to data provided by the Nepal Bankers&rsquo; Association (NBA), commercial banks registered Rs 16 billion of negative credit of their total loan extension in April-May (Baisakh) compared to March-April (Chaitra). &nbsp;The banks in March-April extended a total of Rs 42 billion in loans. The total loan extension of 27 commercial banks reached Rs 2,845 billion by March-April which declined by Rs 16 billion to Rs 2,829 billion in April-May. The total credit of banks become negative because of collection of old loans but zero extension of new loans. &nbsp;</span></span></span></span></h2>

<h2><span style="font-size:18pt"><span style="font-family:&quot;Times New Roman&quot;,serif"><span style="font-size:16.0pt"><span style="font-family:&quot;Cambria&quot;,serif">However, collection of deposits has remained satisfactory despite a dip in April-May. In March-April, commercial banks collected a total of Rs 49 billion in deposits which declined to Rs 30 billion in April-May. The total deposit collection of banks reached to Rs 3,219 billion in April-May from Rs 3,189 billion in March-April. &nbsp;</span></span></span></span></h2>

<h2><span style="font-size:18pt"><span style="font-family:&quot;Times New Roman&quot;,serif"><span style="font-size:16.0pt"><span style="font-family:&quot;Cambria&quot;,serif">Bhuvan Kumar Dahal, president of NBA said that halt in commercial and other transactions has negatively impacted the banking sector. &ldquo;With no end in sight of the lockdown, industries and businesses have remained shut down. As a result, bank transactions have decreased sharply,&rdquo; he mentioned. </span></span></span></span></h2>

<h2><span style="font-size:18pt"><span style="font-family:&quot;Times New Roman&quot;,serif"><span style="font-size:16.0pt"><span style="font-family:&quot;Cambria&quot;,serif">Bankers are having a hard time as the current situation does not allows for extension of new loans due to which interest rate income of banks is also following a declining trend. According to Dahal, the credit-to-core capital-deposit (CCD) ratio of commercial banks has decreased to 76 percent because of halt in extension of new loans. However, renewal of deposits is ongoing in banks. &ldquo;The banking system therefore has adequate investment-grade liquidity at present which is being invested in government bonds such as treasury bills,&rdquo; informed Dahal. </span></span></span></span></h2>
',
			'published' => true,
			'created' => '2020-06-01',
			'modified' => '2020-06-01',
			'keywords' => '',
			'description' => '',
			'sortorder' => '11849',
			'image' => '20200601032952_bank lending.jpg',
			'article_date' => '2020-06-01 15:27:47',
			'homepage' => false,
			'breaking_news' => false,
			'main_news' => true,
			'in_scroller' => null,
			'user_id' => '31'
		)
	),
	(int) 4 => array(
		'Article' => array(
			'id' => '12100',
			'article_category_id' => '1',
			'title' => 'Disquiet of Business Community Grows with Extension of Lockdown ',
			'sub_title' => '',
			'summary' => 'The country’s private sector has raised its voices against the 8th extension of the lockdown till June 14. ',
			'content' => '<p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif"><span style="font-size:16.0pt"><span style="font-family:&quot;Cambria&quot;,serif">The country&rsquo;s private sector has raised its voices against the 8<sup>th</sup> extension of the lockdown till June 14. A meeting of council of ministers held on May 30 decided to further extend the lockdown amid the rising number of Covid-19 infection cases and deaths. Critics say that instead of curbing the spread of coronavirus, the lockdown, which is in place since March 24, has crippled economic activities sending the country&rsquo;s economy into a deep recession unlike anything Nepal has experienced in the past. Major private sector bodies, that have avoided criticizing the government in terms of its handling of the situation, have now started criticizing the government for its indifference to their demands and ignoring warnings of economic fallout of the protracted lockdown. Expressing their displeasure, they have said that extension of the lockdown, without any change in the modality, will be disastrous for the already severely weakened economy. </span></span></span></span></p>

<p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif"><span style="font-size:16.0pt"><span style="font-family:&quot;Cambria&quot;,serif">Issuing a press statement on May 31, the Federation of Nepalese Chambers of Commerce and Industry (FNCCI) urged the government to rethink the duration and modality of the lockdown while considering the sensitiveness of public health. &ldquo;We urge the government to devise the modality of the lockdown so that the economic activities can be restarted,&rdquo; reads the statement. </span></span></span></span></p>

<p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif"><span style="font-size:16.0pt"><span style="font-family:&quot;Cambria&quot;,serif">Earlier, the government permitted to operate 42 types of industries during the lockdown period. However, the strict restrictions in transportation and movement of people and market access have hindered industrialists to operate their industries in full capacity. According to them, the lack of coordination between authorities and all three levels of the government has added to their problems to restart industrial activities. Industrialist complain that government is not showing any seriousness despite the worsening situation which will ultimately lead to the collapse of the industrial sector. They say that the government now needs to contemplate international practices in easing lockdown by further strengthening the health sector expanding the scope of Covid-19 testing, tracing tracking and by introducing effective social distancing measures to reduce the risk of spread of coronavirus. </span></span></span></span></p>

<p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif"><span style="font-size:16.0pt"><span style="font-family:&quot;Cambria&quot;,serif">FNCCI has said that it is concerning that the 8<sup>th</sup> extension of the lockdown was announced without taking suggestions from stakeholders at a time when the economic loss from the lockdown has amounted to 4 percent of the country&rsquo;s GDP, business activities have collapsed, and millions of people have lost their jobs. &nbsp;&ldquo;The government needs to engage in dialogue with stakeholders directly associated with the country&rsquo;s economy to extend restrictive measures,&rdquo; FNCCI has demanded.</span></span></span></span></p>

<p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif"><span style="font-size:16.0pt"><span style="font-family:&quot;Cambria&quot;,serif">Shekhar Golchha, senior vice president of FNCCI said that the lockdown should be eased for the industrial sector under any circumstances. &ldquo;We don&rsquo;t know why the government is ignoring the economic fallout. But one thing has become clear that only lockdown cannot save people from coronavirus,&rdquo; he opined, adding, &ldquo;It is true that our open border with India has increased risks of the contagion of the virus. However, there are no alternatives than to gradually ease the lockdown by maintaining effective health security.&rdquo; Golchha warned that number of Covid-19 cases and deaths could increase in the coming days and that all should be prepared to face the challenges. </span></span></span></span></p>

<p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif"><span style="font-size:16.0pt"><span style="font-family:&quot;Cambria&quot;,serif">According to him, the private sector has shouldered the burden of the country&rsquo;s economic recovery. &ldquo;We have provided employment to millions of Nepalis. The share of the private sector in government revenue stands at 70 percent. Therefore, an immense pressure has been created for the private sector in terms of revival of the pandemic-ravaged economy,&rdquo; noted Golchha, adding, &ldquo;Nevertheless, if the lockdown is extended without proper exit plans, the country&rsquo;s economy will reach of point where recovery will not be possible.&rdquo;</span></span></span></span></p>

<p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif"><span style="font-size:16.0pt"><span style="font-family:&quot;Cambria&quot;,serif">Satish Kumar Moore, president of Confederation of Nepalese Industries (CNI) also said that lockdown needs to be eased by implementing effective health security measures. According to him, the economic slump will further deepen if the government does not show seriousness to restart business activities. &ldquo;It will be appropriate to continue lockdown in areas highly affected by coronavirus while easing economic activities in less affected areas,&rdquo; he said. </span></span></span></span></p>

<p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif"><span style="font-size:16.0pt"><span style="font-family:&quot;Cambria&quot;,serif">Pashupati Murarka, former president of FNCCI said that the government now needs to shift its focus from stopping the spread of coronavirus to saving the country&rsquo;s economy from collapse. &ldquo;Supply chains have been badly affected by the lockdown. Some industries that have restarted their operations are unable to supply their products to the market. The ongoing lockdown has hindered cement industries to transport raw materials from mines to their factories,&rdquo; he said. &nbsp;According to him, the government needs to announce policies to ease the problems for the industrial sector. &ldquo;There are no alternatives for us than to learn to live and carry on our activities facing the challenges posed by the coronavirus,&rdquo; he expressed. </span></span></span></span></p>

<p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif"><span style="font-size:16.0pt"><span style="font-family:&quot;Cambria&quot;,serif">Rajesh Kaji Shrestha, president of Nepal Chamber of Commerce (NCC) said that the government has ignored the concerns and problems of the business community. &ldquo;It seems the government thinks that its one and only responsibility is to give continuation to lockdown and it does not have to pay attention the plight of the business community. Now the government urgently needs to prioritise changing the modality of the lockdown so that business activities are restarted,&rdquo; he said. </span></span></span></span></p>
',
			'published' => true,
			'created' => '2020-06-01',
			'modified' => '2020-06-01',
			'keywords' => '',
			'description' => '',
			'sortorder' => '11848',
			'image' => '20200601121121_lockdown.jpg',
			'article_date' => '2020-06-01 12:07:19',
			'homepage' => false,
			'breaking_news' => false,
			'main_news' => true,
			'in_scroller' => null,
			'user_id' => '31'
		)
	),
	(int) 5 => array(
		'Article' => array(
			'id' => '12099',
			'article_category_id' => '1',
			'title' => 'Xiaomi Launches Mi 10 and Mi Note 10 Lite in Nepal',
			'sub_title' => '',
			'summary' => 'Chinese smartphone brand Xiaomi has launched its two flagship handsets Mi 10 and Mi Note 10 Lite in the Nepali market. ',
			'content' => '<p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif"><span style="font-size:16.0pt"><span style="font-family:&quot;Cambria&quot;,serif">Chinese smartphone brand Xiaomi has launched its two flagship handsets Mi 10 and Mi Note 10 Lite in the Nepali market. Issuing a press statement, the company said that Mi 10 is the first smartphone to hit the Nepali market with a 108MP quad-camera setup and Qualcomm<sup> </sup>Snapdragon 865 processor for 5G connectivity. &nbsp;The phone comes with a 3D Curved AMOLED display, 4,780mAh battery, and 30W wireless charging. &ldquo;With 8GB RAM (LPDDR5) and 128GB or 256GB ROM (UFS 3.0), Mi 10 offers swift response and an ultra-smooth operating experience. Paired with the most sophisticated cooling system, Mi 10 uses LiquidCool 2.0 &ndash; an advanced cooling system consisting of a large vapor chamber, as well as multi-layer graphite and graphene stacks that dissipate heat to ensure sustained peak performance,&rdquo; reads the statement. </span></span></span></span></p>

<p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif"><span style="font-size:16.0pt"><span style="font-family:&quot;Cambria&quot;,serif">Xiaomi claimed that Mi 10 redefines smartphone photography and videography with its OIS-enabled 108MP quad rear camera setup and users can shoot ultra-clear shots along with details unseen to the naked eye with the 108MP primary sensor and experience the full view of their subjects with the 13MP ultra-wide angle lens, with 123&deg; FOV. The company informed that Mi 10 also supports UHD 8K video recording at 30fps.</span></span></span></span></p>

<p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif"><span style="font-size:16.0pt"><span style="font-family:&quot;Cambria&quot;,serif">Similarly, Mi Note 10 Lite offers a 6.47&rsquo;&rsquo; curved AMOLED display, a 4MP quad-camera setup, Qualcomm<sup> </sup>Snapdragon 730G SoC and a large-capacity 5,260mAh battery, according to the statement. </span></span></span></span></p>

<p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif"><span style="font-size:16.0pt"><span style="font-family:&quot;Cambria&quot;,serif">&ldquo;Sporting a first class 6.47&rsquo;&rsquo; 3D curved AMOLED display and a 3D curved glass back, Mi Note 10 Lite provides a premium in-hand feel,&rdquo; said the company. According to Xiaomi, with smoothly curved and tapered edges on four sides, Mi Note 10 Lite brings about an outstanding 91.4 percent screen-to-body ratio that will surely amaze with its immersive viewing experience.</span></span></span></span></p>

<p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif"><span style="font-size:16.0pt"><span style="font-family:&quot;Cambria&quot;,serif">&nbsp;&ldquo;With Mi 10, we aim to redefine the premium smartphone experience for consumers in Nepal. This device is a pinnacle of smartphone design and engineering, pushing the boundaries of what&#39;s possible on a handheld device. With its flagship OIS enabled 108MP Quad Camera setup, UHD 8K video recording, world&rsquo;s fastest 30W wireless charging, we hope our users can create content in a way never thought possible before, with Mi 10,&rdquo; the statement quoted Sourabh Kothari, Xiaomi&rsquo;s country general manager for Nepal, as saying. </span></span></span></span></p>

<p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif"><span style="font-size:16.0pt"><span style="font-family:&quot;Cambria&quot;,serif">As per the company, </span></span><span style="font-size:16.0pt"><span style="font-family:&quot;Cambria&quot;,serif">Mi 10 will be available in two colour variants - twilight grey and coral green at a price of Rs 89,999<strong>.</strong> Similarly, Mi Note 10 Lite will be available in 6GB + 128GB variant and three colour options - midnight black, glacier white and nebula purple at Rs 44,999. &ldquo;Both phones will be available for purchase across offline stores, retail partners and online partners Daraz and Sastodeal very soon,&rdquo; informed the company. </span></span></span></span></p>

<p>&nbsp;</p>

<p>&nbsp;</p>

<p>&nbsp;</p>
',
			'published' => true,
			'created' => '2020-05-31',
			'modified' => '2020-05-31',
			'keywords' => '',
			'description' => '',
			'sortorder' => '11847',
			'image' => '20200531054346_MI NOTE 10.jpg',
			'article_date' => '2020-05-31 17:41:39',
			'homepage' => false,
			'breaking_news' => false,
			'main_news' => false,
			'in_scroller' => null,
			'user_id' => '31'
		)
	),
	(int) 6 => array(
		'Article' => array(
			'id' => '12096',
			'article_category_id' => '1',
			'title' => ' Rs 1 billion in Fines Waived for Nepali Importers at Kolkata Port',
			'sub_title' => '',
			'summary' => 'Nepali importers have received waivers of about Rs 1 billion in detention and ground rent at the Kolkata Port for the lockdown period.',
			'content' => '<h1><span style="font-size:24pt"><span style="font-family:&quot;Times New Roman&quot;,serif"><span style="font-size:16.0pt"><span style="font-family:&quot;Cambria&quot;,serif">Nepali importers have received waivers of about Rs 1 billion in detention and ground rent at the Kolkata Port for the lockdown period. Vineet Kumar, chairman of Kolkata Port Trust informed that fines for Nepali importers were waived because of their inability to transport the containers shipped from third countries due to the ongoing lockdown in India which is in place since March 22. According to him, Nepali importers have received Rs 930 million (INR 580 million) in waivers in detention and ground rent at the port. </span></span></span></span></h1>

<h1><span style="font-size:24pt"><span style="font-family:&quot;Times New Roman&quot;,serif"><span style="font-size:16.0pt"><span style="font-family:&quot;Cambria&quot;,serif">Of the total amount, Rs 880 million has been waived in detention charges to shipping companies and Rs 50 million in ground rent to the port authority. Earlier, the government of India had directed port authorities of the country not to fine importers and levy them additional charges for the period of March 22 to May 3. However, importers won&rsquo;t be receiving such waivers after March 22 even the lockdown has been extended till May 31. The Indian government has relaxed the ongoing lockdown from May 3 by easing transport and movement of people. </span></span></span></span></h1>

<h1><span style="font-size:24pt"><span style="font-family:&quot;Times New Roman&quot;,serif"><span style="font-size:16.0pt"><span style="font-family:&quot;Cambria&quot;,serif">Nepali importers enjoy free time of 15 days for Nepal bound road containers and 20 days for rail containers at the Kolkata Port. They are required to pay ground rent if they do not clear their shipments from the port after the end of the free time. &nbsp;The port authority has said that the free time will be calculated before March 22 and after May 3. Similarly, shipping companies provide free time of 14-21 days. Nepali importers who get five days to return the containers after the shipments are made to the Birgunj Dry Port; they are required to pay detention charges if they do not return the containers within the stipulated time. &nbsp;According to the Kolkata Port authority officials, some shipping companies have waived detention charges on the basis of mutual understanding with Nepali importers even after May 3. &nbsp;Over 4,000 Nepal bound containers were stuck at the port after the sudden halt in transportation and movement of people due to the lockdown imposed by the government to curb the spread of coronavirus. The containers were transported to nearby freight station (CFS) after the space at the port got constrained due to increased numbers of shipments. Kolkata Port Authority Chairman Kumar informed that the CFS operator has been directed to provide Nepali importers an additional 15 days of free time to transport the containers. </span></span></span></span></h1>
',
			'published' => true,
			'created' => '2020-05-31',
			'modified' => '2020-05-31',
			'keywords' => '',
			'description' => '',
			'sortorder' => '11846',
			'image' => '20200531053058_kolkata port.jpg',
			'article_date' => '2020-05-31 17:25:03',
			'homepage' => false,
			'breaking_news' => false,
			'main_news' => true,
			'in_scroller' => false,
			'user_id' => '31'
		)
	),
	(int) 7 => array(
		'Article' => array(
			'id' => '12095',
			'article_category_id' => '1',
			'title' => 'Over 1,000 DEMAT Accounts Opened during Lockdown ',
			'sub_title' => '',
			'summary' => 'While the stock market has remained closed for the last 69 days due to the lockdown, the number of people opening DEMAT account for share transactions has increased significantly. ',
			'content' => '<p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif"><span style="font-size:16.0pt"><span style="font-family:&quot;Cambria&quot;,serif">While the stock market has remained closed for the last 69 days due to the lockdown, the number of people opening DEMAT account for share transactions has increased significantly. According to the CDS and Clearing (CDSC) Limited, 1,062 DEMAT accounts have been opened over the last two months. Suresh Neupane, spokesperson at CDSC said that shareholders have opened accounts to secure their shares at a time when uncertainty has prevailed in financial market. &nbsp;According to him, the increase in the number of DEMAT accounts is also attributed to the continuation of services of merchant banks and depository participant (DP) offices. The number of DEMAT accounts has reached 1.66 million after the account was made mandatory four years ago when ASBA system was introduced for share transaction. Stock investors are required to mention their DEMAT accounts while applying for initial public offerings (IPOs) and doing share transactions in the secondary market. </span></span></span></span></p>

<p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif"><span style="font-size:16.0pt"><span style="font-family:&quot;Cambria&quot;,serif">As the capital market agencies are putting their efforts for the full digitization of share transactions from the next fiscal year, the increase number of DEMAT accounts show the attraction of stock investors in digital transaction. Damaru Ballav Ghimire, a stock investor, said that troubles related to archiving of paper share certificate has ended with the commencement of DEMAT account transaction. According to him, he has updated his all 350 share certificates in the account. &ldquo;Now investors don&rsquo;t have to get into queue anymore to archive their certificates and they don&rsquo;t have to worry about losing the paper certificates,&rdquo; he said. Ghimire said that many stock investors are yet to deposit their shares into their DEMAT accounts due to which they are not able to receive dividends on time. According to CDSC, 5.24 billion units of shares have been deposited into DEMAT accounts. </span></span></span></span></p>
',
			'published' => true,
			'created' => '2020-05-31',
			'modified' => '2020-05-31',
			'keywords' => '',
			'description' => '',
			'sortorder' => '11845',
			'image' => '20200531051929_demat.jpg',
			'article_date' => '2020-05-31 17:17:06',
			'homepage' => false,
			'breaking_news' => false,
			'main_news' => true,
			'in_scroller' => null,
			'user_id' => '31'
		)
	),
	(int) 8 => array(
		'Article' => array(
			'id' => '12094',
			'article_category_id' => '1',
			'title' => 'HAN Revise Charges for Covid-19 Quarantine at Hotels',
			'sub_title' => '',
			'summary' => 'Hotel Association Nepal (HAN) has lowered the charges for providing Covid-19 quarantine facilities at hotels. ',
			'content' => '<p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif"><span style="font-size:16.0pt"><span style="font-family:&quot;Cambria&quot;,serif">Hotel Association Nepal (HAN) has lowered the charges for providing Covid-19 quarantine facilities at hotels. The hotel industry body, which had earlier set charges ranging from Rs 3,000 to Rs 16,000 per person to keep foreign returnees has now reduced the charge to Rs 3,000 per person for one-star and tourist-level hotels. &nbsp;According to Sajan Shakya, general secretary at HAN, two individuals sharing a same room at tourist-level hotels have to pay Rs 4,000 per day as per the revised rate. </span></span></span></span></p>

<p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif"><span style="font-size:16.0pt"><span style="font-family:&quot;Cambria&quot;,serif">Earlier, the rate was Rs 5,000 for a person and Rs 6,000 for two. HAN has said that 20,000 hotel rooms across the country can be used as quarantine facilities. Among the 15 chapters of HAN, Kathmandu, Bhaktapur, Pokhara, Chitwan, Bhairahawa, Nepalgunj and Biratnagar chapters have already notified the industry body about the number of hotel rooms that can be used as isolation facilities. </span></span></span></span></p>

<p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif"><span style="font-size:16.0pt"><span style="font-family:&quot;Cambria&quot;,serif">According to Shakya, 3,100 hotel rooms in Kathmandu, 4,000 each in Pokhara, Chitwan and Bhairahawa, 2,500 in Nepalgunj and the remaining 2,400 rooms in Bhaktapur and Biratnagar can be used for accommodation of foreign returnees. As per arrangements announced by HAN, individuals using rooms of five-star hotels and deluxe resorts will be charged Rs 16,000 per person while it is Rs 10,000 for two individuals sharing a same room. &nbsp;Similarly, the rates for using a four-star hotel room have been set at Rs 14,000 and Rs 8,000. The isolation stay at three-star and two-star hotels has been set at Rs 10,000 for an individual and Rs 6,000 for two people sharing a same room. HAN has informed that hotels will provide meals four times a day, communications and other basic services to those coming for isolation. </span></span></span></span></p>

<p>&nbsp;</p>
',
			'published' => true,
			'created' => '2020-05-31',
			'modified' => '2020-05-31',
			'keywords' => '',
			'description' => '',
			'sortorder' => '11844',
			'image' => '20200531051443_room.jpg',
			'article_date' => '2020-05-31 17:11:55',
			'homepage' => false,
			'breaking_news' => false,
			'main_news' => true,
			'in_scroller' => null,
			'user_id' => '31'
		)
	),
	(int) 9 => array(
		'Article' => array(
			'id' => '12093',
			'article_category_id' => '1',
			'title' => 'Sunrise Bank and Eazy Care Join Hands ',
			'sub_title' => '',
			'summary' => 'Sunrise Bank Limited has signed an agreement with the online medical site Eazy Care to provide healthcare to its customers. ',
			'content' => '<p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif"><span style="font-size:15.0pt"><span style="font-family:&quot;Cambria&quot;,serif">Sunrise Bank Limited has signed an agreement with the online medical site Eazy Care to provide healthcare to its customers. Issuing a press statement, the bank said that its customers can get upto 22 percent in discount while availing services from Eazy Care during the lockdown.</span></span></span></span></p>

<p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif"><span style="font-size:15.0pt"><span style="font-family:&quot;Cambria&quot;,serif">As per the agreement, the bank&rsquo;s customers can get 12 percent discount and further 10 percent or upto Rs 500 in cashback by making payments to Eazy Care using QR scanner, debit and credit cards on purchase of medicine. </span></span></span></span></p>

<p>&nbsp;</p>
',
			'published' => true,
			'created' => '2020-05-30',
			'modified' => '2020-05-30',
			'keywords' => '',
			'description' => '',
			'sortorder' => '11843',
			'image' => '20200530044555_sunrise.jpg',
			'article_date' => '2020-05-30 16:43:56',
			'homepage' => false,
			'breaking_news' => false,
			'main_news' => false,
			'in_scroller' => null,
			'user_id' => '31'
		)
	),
	(int) 10 => array(
		'Article' => array(
			'id' => '12092',
			'article_category_id' => '1',
			'title' => 'Budget Provides an Additional Rs 60 billion Relief to Private Sector: FinMin ',
			'sub_title' => '',
			'summary' => 'Finance Minister Dr Yuba Raj Khatiwada has said that the budget has offered an additional Rs 60 billion in relief to businesses.',
			'content' => '<h2><span style="font-size:13pt"><span style="font-family:&quot;Calibri Light&quot;,sans-serif"><span style="font-size:15.0pt"><span style="font-family:&quot;Cambria&quot;,serif">Finance Minister Dr Yuba Raj Khatiwada has said that the budget has offered an additional Rs 60 billion in relief to businesses. &quot;The relief will be provided in the forms of cash, subsidy, tax and fine discounts and concessional loans and the cumulative amount would reach Rs.60 billion,&quot; he said in a post-budget interaction with financial journalists organised at the Ministry of Finance on May 29.</span></span></span></span></h2>

<h2><span style="font-size:13pt"><span style="font-family:&quot;Calibri Light&quot;,sans-serif"><span style="font-size:15.0pt"><span style="font-family:&quot;Cambria&quot;,serif">According to Dr Khatiwada, the refinancing facility to the businesses amounts to Rs 20 billion and the government will mobilise Rs 14 billion to subsidise the interest of the business loans. The government in the Federal Budget for FY 2020/21 has announced to provide business loan at 5 percent. The rest of the interest, which is about 6-7 percent, will be paid to the banks and financial institutions by the government. The finance minister said that the tax concessions would provide a benefit of Rs 6.5 billion to the private sector.</span></span></span></span></h2>

<h2><span style="font-size:13pt"><span style="font-family:&quot;Calibri Light&quot;,sans-serif"><span style="font-size:15.0pt"><span style="font-family:&quot;Cambria&quot;,serif">&quot;The government will pay the social security contributions of the private sector workers for the lockdown period,&quot; Dr Khatiwada said. He said the budget was labour-centred and aims to create jobs, provide social security and relief to the workers. &quot;We aim to create about 500,000 additional employments in various sectors like business, industries, infrastructure and self-employment,&quot; he said. <em>(RSS)</em></span></span></span></span><br />
&nbsp;</h2>
',
			'published' => true,
			'created' => '2020-05-30',
			'modified' => '2020-05-30',
			'keywords' => '',
			'description' => '',
			'sortorder' => '11842',
			'image' => '20200530042434_post-budget interaction.jpg',
			'article_date' => '2020-05-30 16:22:42',
			'homepage' => false,
			'breaking_news' => false,
			'main_news' => true,
			'in_scroller' => false,
			'user_id' => '31'
		)
	),
	(int) 11 => array(
		'Article' => array(
			'id' => '12091',
			'article_category_id' => '1',
			'title' => '‘Budget Traditional, Economic Growth Target Unrealistic’',
			'sub_title' => '',
			'summary' => 'The Federal Budget for FY2020/21 has drawn mixed reaction from former finance ministers, economists and private sector leaders. ',
			'content' => '<p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif"><span style="font-size:15.0pt"><span style="font-family:&quot;Cambria&quot;,serif">The Federal Budget for FY2020/21</span></span><span style="font-size:15.0pt"><span style="font-family:&quot;Cambria&quot;,serif"> has drawn mixed reaction from former finance ministers, economists and private sector leaders. In a post-budget virtual interaction programme organised by the Society of Economic Journalists &ndash; Nepal (SEJON) on May 29, they describe the budget for the upcoming fiscal year as &lsquo;traditional&rsquo; and ordinary which cannot fulfill the needs of the extraordinary times and take the country&rsquo;s economy out of the crisis. They also said that the economic growth target of 7 percent as unrealistic to achieve. According to them, the targets of economic growth, revenue collection, foreign assistance and public expenditure are ambitious. </span></span></span></span></p>

<p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif"><span style="font-size:15.0pt"><span style="font-family:&quot;Cambria&quot;,serif">Commenting on the budget, former Prime Minister and finance minister Dr Baburam Bhattarai said, &ldquo;The budget should have long term plans for socio-economic development. But this year&rsquo;s budget is nothing more than &lsquo;traditional&rsquo;. </span></span><span style="font-size:15.0pt"><span style="font-family:&quot;Cambria&quot;,serif">The pandemic presented a right time for the finance minister to turn challenges into opportunities. But his divided loyalties stopped him to do so. The budget has failed to give priority to economic sectors that need significant investment to revive.&rdquo; Dr Bhattarai said that the budget is directionless which is neither socialism-oriented nor market-oriented. According to him, government to take responsibility to ensure education and health to all citizens which won&rsquo;t be possible through a traditional budget. </span></span></span></span></p>

<p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif"><span style="font-size:15.0pt"><span style="font-family:&quot;Cambria&quot;,serif">&ldquo;Budget for the Prime Minster Employment Programme (PEMP) has been increased. But neither the targeted group will benefit nor the money from state coffer will be utilized if the earmarked budget is spent in activities such as cutting of grasses like in previous years,&rdquo; said Dr Bhattarai. He suggested the government to increase foreign borrowing to manage finances for economic recovery. &ldquo;Foreign debt accounts for 32 percent of Nepal&rsquo;s GDP. It can be increased to 60-65 percent. The government must not hesitate to take loans in these trying times,&rdquo; he added. He claimed that the budget won&rsquo;t be able generate employment as targeted due to the scattered allocations. </span></span></span></span></p>

<p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif"><span style="font-size:15.0pt"><span style="font-family:&quot;Cambria&quot;,serif">Former finance minister Dr Ram Sharan Mahat said that the budget for the upcoming fiscal year is filled with promises and promotional programmes. According to him, the assurances given for employment generation, agriculture and industrial sector development are very difficult to implement at the moment. Dr Mahat objected the internal debt target set by the government in the budget. &ldquo;In the past, the government use to take internal loans not more than 2-3 percent of GDP. But this time it has been set at 5 percent. If the government increases internal borrowings, it will reduce the liquidity in the financial market and will affect generation of jobs and expansion of industrial and business activities,&rdquo; he said. He criticised the government for not lowering corporate tax and increasing customs duty on import of electric vehicles even seeing possibility of excess of electricity in the country. </span></span></span></span></p>

<p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif"><span style="font-size:15.0pt"><span style="font-family:&quot;Cambria&quot;,serif">Another former finance minister Surendra Pandey, however, defended the budget saying that the government has announced arrangements by properly evaluating the country&rsquo;s economic situation and public health. &ldquo;Slashing of public expenditure and increase of budget in public health are positive steps. However, there are challenges to keep the hospitals operational,&rdquo; said Pandey. According to him, there can be difficulties for the government to sustain recurrent expenditures as the revenue target of Rs 900 billion set the upcoming fiscal is relatively low. Similarly, he viewed the 7 percent economic growth target for the upcoming fiscal year as challenging. </span></span></span></span></p>

<p><strong><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif"><span style="font-size:15.0pt"><span style="font-family:&quot;Arial&quot;,sans-serif">Targets Unachievable: Economists</span></span></span></span></strong></p>

<p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif"><span style="font-size:15.0pt"><span style="font-family:&quot;Arial&quot;,sans-serif">Speaking at the interrraction programme, economists said that many targets in the budget won&rsquo;t be unachieved. Dr Shankar Sharma, former vice chairman of National Planning Commission (NPC) said, &ldquo;</span></span><span style="font-size:15.0pt"><span style="font-family:&quot;Mangal&quot;,serif">The target to increase foreign assistance by 125 percent compared to the current fiscal year is impossible to achieve. Given our capacity, I think foreign assistance will be 40 percent less than aimed. On the other hand the 7 percent economic growth target is challenging because of protracted halt in industrial and business activities, and decline in remittance inflow which has already gone down by 20 percent and could further decrease by 50 percent in the coming months.&rdquo; </span></span></span></span></p>

<p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif"><span style="font-size:15.0pt"><span style="font-family:&quot;Mangal&quot;,serif">Prof Dr Govinda Nepal said that the size of the budget is appropriate to deal with the current situation. According to him, the budget was unveiled with a broader consensus and the government&rsquo;s priority to the health sector development and prevention and control of coronavirus is positive. &ldquo;However, the relief measures announced for various economic sectors are not sufficient. The government needs to form separate task force comprising of all stakeholders to review the measures,&rdquo; he mentioned. </span></span></span></span></p>

<p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif"><strong><span style="font-size:15.0pt"><span style="font-family:&quot;Cambria&quot;,serif">&nbsp;Not a stimulus package, scattered relief: Private Sector</span></span></strong></span></span></p>

<p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif"><span style="font-size:15.0pt"><span style="font-family:&quot;Cambria&quot;,serif">The country&rsquo;s private sector, which had demanded that the government to come up with stimulus package 5 percent of GDP, has expressed its displeasure over the measures announced in the Federal Budget for FY2020/21. Speaking at the programme, private sector leaders said that the measures announced by the government cannot be called stimulus package and that the scattered relief won&rsquo;t be helpful to revive economic activities. Shekhar Golchha, senior vice president of Federation of Nepalese Chamber of Commerce and Industries (FNCCI), commented , &ldquo;At a time when economic loss has reached 2-3 percent of the country&rsquo;s GDP and 1.5 million Nepalis have lost their jobs, the budget has indicated that the government has remained conservative rather than becoming liberal to take the economy out of the crisis.&rdquo; According to him, the private sector had demanded that the budget incorporate appropriate measures for liquidity management, bank interest rate, labour management and concession in demand charge of electricity. &ldquo;Among them, the budget has failed to address our demand of labour management which has become the most challenging issue for us at present,&rdquo; he said. &nbsp;Golchha mentioned that the government also did not addressed private sector&rsquo;s demand to ease labour management for those looking to close their industries, archiving of assets and VAT concession.</span></span></span></span></p>

<p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif"><span style="font-size:15.0pt"><span style="font-family:&quot;Cambria&quot;,serif">Kamalesh Agrawal, vice president of Nepal Chamber of Commerce (NCC) said that the government did not meet the expectations of business community as it was under political pressure. &ldquo;The stimulus package suggested by the private sector was not taken seriously. Refinancing and stimulus package differ in scope and features. We have demanded stimulus package worth 5 percent of the country&rsquo;s GDP, but the relief measures announced in the budget are just 1.5 percent of GDP,&rdquo; said Agrawal. According to him, the target to raise Rs 225 billion through internal borrowing will result in shortage of liquidity and affect bank interest rates. </span></span></span></span></p>

<p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif"><span style="font-size:15.0pt"><span style="font-family:&quot;Cambria&quot;,serif">Vishnu Agrawal, senior vice president of Confederation of Nepalese Industries (CNI) commented that the budget has failed to incorporate measures to increase the aggregate demand in the market. &ldquo;The scattered relief measures will not be much helpful in the economic recovery,&rdquo; he remarked. Agrawal said that the revenue target of the government is challenging as demand will remain low in the next fiscal year, hence impacting collection of VAT and income taxes. </span></span></span></span></p>

<p>&nbsp;</p>
',
			'published' => true,
			'created' => '2020-05-30',
			'modified' => '2020-05-30',
			'keywords' => '',
			'description' => '',
			'sortorder' => '11841',
			'image' => '20200530032905_photo post budget[6898].jpg',
			'article_date' => '2020-05-30 15:25:01',
			'homepage' => false,
			'breaking_news' => false,
			'main_news' => true,
			'in_scroller' => null,
			'user_id' => '31'
		)
	),
	(int) 12 => array(
		'Article' => array(
			'id' => '12090',
			'article_category_id' => '1',
			'title' => 'Arrangements in Budget Inadequate to Revive Economic Activities: Private Sector',
			'sub_title' => '',
			'summary' => 'The government has dashed the hopes of the country’s private sector that a comprehensive stimulus package will be announced in the Federal Budget for FY2020/21 to kick-start the economic recovery. ',
			'content' => '<h1><span style="font-size:24pt"><span style="font-family:&quot;Times New Roman&quot;,serif"><span style="font-size:15.0pt"><span style="font-family:&quot;Arial&quot;,sans-serif">The government has dashed the hopes of the country&rsquo;s private sector that a comprehensive stimulus package will be announced in the Federal Budget for FY2020/21 to kick-start the economic recovery. Industrialists and businesspersons say that the measures announced in the budget haven&#39;t&nbsp;offered&nbsp;substantial relief to the crisis-stricken private sector and that many of their demands have gone unaddressed. &nbsp;</span></span></span></span></h1>

<h1><span style="font-size:24pt"><span style="font-family:&quot;Times New Roman&quot;,serif"><span style="font-size:15.0pt"><span style="font-family:&quot;Arial&quot;,sans-serif">The government has announced establishment of two refinancing funds totaling Rs 150 billion. As per the arrangements, Nepal Rastra Bank will provide refinancing facility of Rs 100 billion. Separately, a Rs 50 billion refinancing fund will be established with money received from the government, state-owned enterprises. </span></span></span></span></h1>

<h1><span style="font-size:24pt"><span style="font-family:&quot;Times New Roman&quot;,serif"><span style="font-size:15.0pt"><span style="font-family:&quot;Arial&quot;,sans-serif">Both funds will provide concessional loans to businesses to restart their activities and pay salaries to their employees. According to the arrangements in the budget, businesses in agriculture, cottage industries, small and medium enterprises (SMEs), manufacturing industries, hotels and tourism sector enterprises can avail credit from the fund at 5 percent interest rate. </span></span></span></span></h1>

<h1><span style="font-size:24pt"><span style="font-family:&quot;Times New Roman&quot;,serif"><span style="font-size:15.0pt"><span style="font-family:&quot;Arial&quot;,sans-serif">&ldquo;These are only basic&nbsp;reliefs for the private sector. We had suggested the government to bring stimulus package worth 5 percent of the country&rsquo;s GDP. The measures announced in the budget are 4 percent of GDP,&rdquo; Said Bhawani Rana, president of Federation of Nepalese Chamber of Commerce and Industry (FNCCI). &nbsp;&ldquo;There are not many things in the budget to encourage the private sector. However, arrangement for refinancing, programmes to support MSMEs, reduction in demand charge of electricity, income tax concession for tourism sector are positive steps,&rdquo; she added. Rana said that it has become challenging for the crisis-stricken businesses to move ahead in the coming days due to lack of clarity in mobilization of capital and relief packages. </span></span></span></span></h1>

<h1><span style="font-size:24pt"><span style="font-family:&quot;Times New Roman&quot;,serif"><span style="font-size:15.0pt"><span style="font-family:&quot;Arial&quot;,sans-serif">Rajendra Malla, senior vice president of Nepal Chamber of Commerce (NCC) said that the budget is overall positive for the private sector. &ldquo;The increase of budget allocation for public health is very timely. However, the Ministry of Finance has not given its attention to the revenue target and whether or not the government can manage its expenses at present. The revenues sources have shrunken significantly at the moment,&rdquo; he opined. &nbsp;According to Malla, the government, which has prioritised agriculture sector development in the Federal Budget for FY2020/21, has not given preference to internal logistic and transportation due to which production of goods will remain costlier. </span></span></span></span></h1>

<h1><span style="font-size:24pt"><span style="font-family:&quot;Times New Roman&quot;,serif"><span style="font-size:15.0pt"><span style="font-family:&quot;Arial&quot;,sans-serif">Dhruva Thapa, president of Cement Manufacturers&rsquo; Association, Nepal (CMAN) said the the arrangements in the budget are &lsquo;traditional&rsquo; except for the health sector development. He stated continuation of consituency development fund and failure to bring budget on the basis of priority even at this time of crisis as dejected. &ldquo;There are concerns how all industrialists and business persons can avail the refinancing facilities. The success of the government&rsquo;s announcement depends on how the arrangements in the budget are implemented,&rdquo; he said. </span></span></span></span></h1>
',
			'published' => true,
			'created' => '2020-05-29',
			'modified' => '2020-05-29',
			'keywords' => '',
			'description' => '',
			'sortorder' => '11840',
			'image' => '20200529043520_recovery.jpg',
			'article_date' => '2020-05-29 16:33:43',
			'homepage' => false,
			'breaking_news' => false,
			'main_news' => true,
			'in_scroller' => false,
			'user_id' => '31'
		)
	),
	(int) 13 => array(
		'Article' => array(
			'id' => '12089',
			'article_category_id' => '1',
			'title' => 'Govt Aims to Create 800,000 Jobs',
			'sub_title' => '',
			'summary' => 'At a time when unemployment in Nepal has excerberated as a result of sharp increase in the number of Nepalis losing jobs inside and outside the country due to the Covid-19 pandemic, the government has announced new programmes in the Federal Budget for FY2020/21 to create 800,000 jobs. ',
			'content' => '<h1><span style="font-size:24pt"><span style="font-family:&quot;Times New Roman&quot;,serif"><span style="font-size:15.0pt"><span style="font-family:&quot;Arial&quot;,sans-serif">At a time when unemployment in Nepal has excerberated as a result of sharp increase in the number of Nepalis losing jobs inside and outside the country due to the Covid-19 pandemic, the government has announced new programmes in the Federal Budget for FY2020/21 to create 800,000 jobs. Presenting the budget in the House of Representatives, Finance Minister Dr Yuba Raj Khatiwada said that the creation of new jobs has been prioritised in the budget for the upcoming fiscal year estimating that one million Nepalis will lose their jobs within the country while 500,000 will become jobless abroad. Dr Khatiwada mentioned that the programmes in the new budget aim to provide employment opportunities to all Nepalis through dignified jobs, social security and ideal labour relations to increase the labour productivity in the country. </span></span></span></span></h1>

<h1><span style="font-size:24pt"><span style="font-family:&quot;Times New Roman&quot;,serif"><span style="font-size:15.0pt"><span style="font-family:&quot;Arial&quot;,sans-serif">It is estimated that 500,000 Nepalis enter job market every year. The government has predicted that out of 4.79 million people currently in foreign employment, the pandemic-induced crisis has forced about 1.5 million to return to the country. This situation has posed a huge challenge for the government which has so far struggled to generate enough for Nepalis youths. </span></span></span></span></h1>

<p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif"><span style="font-size:15.0pt"><span style="font-family:&quot;Arial&quot;,sans-serif">The Prime Minister Employment Programme (PMEP) will be the biggest government undertaking in employment creation which aims to generate 200,000 jobs. &nbsp;PMEP, which has been implemented in all three levels of the government, will ensure 100-day employment. The budget allocation for the programme for the upcoming fiscal year has been increased to Rs 11.60 billion from Rs 5 billion in the current fiscal year. Similarly, Rs 1 billion has been allocated to conduct handicraft, plumbing, electronics, cook, mansion, tailoring, beautician, barber trainings on federal and central levels to generate 50,000 jobs. Meanwhile, Rs 4.34 billion has been allocated to provide technical trainings to 75,000 individuals. </span></span></span></span></p>

<p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif"><span style="font-size:15.0pt"><span style="font-family:&quot;Arial&quot;,sans-serif">The budget has aimed to generate 40,000 jobs through Small Farmers Credit Programme and 12,000 jobs through Self-employment Loan Programme. Meanwhile, the government has targeted to create 127,000 through micro entrepreneurship programme and an additional 30,000 jobs through programmes based on utilisation of forest resources. &ldquo;32,000 instituions promoted by the Poverty Allevation Fund will transformed into cooperatives to create 150,000 jobs,&rdquo; Finance Minister Dr Khatiwada said. </span></span></span></span></p>

<h1><span style="font-size:24pt"><span style="font-family:&quot;Times New Roman&quot;,serif"><span style="font-size:15.0pt"><span style="font-family:&quot;Arial&quot;,sans-serif">In his budget speech, the finance minister said that local units will run infrastructure development and social programmes and &lsquo;food for work&rsquo; programme targeting people from poor families. Similarly, those who have lost their jobs in the country and foreign returnees will be employed in labour-intensive development works. The government has announced to further tighten to employ foreign workers without obtaining labour permits. Presently, there is an arrangement in this regard, but hundreds of thousands of foreign workers, particularly from India, are working in Nepal without such permits due to lax regulation and monitoring. Economists say that this situation offers big opportunities to Nepal to replace foreign workforce in the country with Nepali workers. Dr Shankar Sharma, former vice chairman of National Planning Commission (NPC) thinks that this will help to enhance skills of Nepali workers which would ultimately make a big difference. &nbsp;</span></span></span></span></h1>
',
			'published' => true,
			'created' => '2020-05-29',
			'modified' => '2020-05-29',
			'keywords' => '',
			'description' => '',
			'sortorder' => '11839',
			'image' => '20200529013427_employment.jpg',
			'article_date' => '2020-05-29 13:32:30',
			'homepage' => false,
			'breaking_news' => false,
			'main_news' => true,
			'in_scroller' => null,
			'user_id' => '31'
		)
	),
	(int) 14 => array(
		'Article' => array(
			'id' => '12088',
			'article_category_id' => '1',
			'title' => 'Irrigation and Agriculture Sector-focused Programmes Get Priority',
			'sub_title' => '',
			'summary' => 'The government has prioritised the agriculture sector development by announcing a slew of programmes in the Federal Budget for FY2020/21.',
			'content' => '<h2><span style="font-size:18pt"><span style="font-family:&quot;Times New Roman&quot;,serif"><span style="font-size:16.0pt"><span style="font-family:&quot;Arial&quot;,sans-serif">The government has prioritised the agriculture sector development by announcing a slew of programmes in the Federal Budget for FY2020/21. Presenting the budget in the House of Representatives, Dr Yuba Raj Khatiwada said that Rs 41 billion has been allocated for promoting agricultural products and Rs 27 billion for irrigation infrastructure development. </span></span></span></span></h2>

<h2><span style="font-size:18pt"><span style="font-family:&quot;Times New Roman&quot;,serif"><span style="font-size:16.0pt"><span style="font-family:&quot;Arial&quot;,sans-serif">The programmes announced for agriculture sector development include facilitation of contract and land pooling, establishment of 78 wholesale markets for agriculture produce across covering all seven provinces, cash subsidy to farmers for improvised seed production, installation of weather radars, formation of land banks at 300 locations across the country, international promotion and branding of Nepali coffee, major herbs and other cash crops, launching of farmers credit card, setting up of standard food testing lab one each in Gandaki and Karnali provinces and setting up of well-facilitated animal quarantine labs at all major border customs across the country. Similarly, Rs 11 billion has been allocated in the budget for supply and distribution of chemical fertilisers, while Rs 950 million has been allocated for promotion of sugarcane cultivation. Likewise, Rs 3.22 billion has been allocated to run &lsquo;One Local Level, One Pocket Product&rsquo; programme. </span></span></span></span></h2>

<h2><span style="font-size:18pt"><span style="font-family:&quot;Times New Roman&quot;,serif"><span style="font-size:16.0pt"><span style="font-family:&quot;Arial&quot;,sans-serif">Meanwhile, the government has announced to promote shallow water irrigation system with a view to expand irrigation to additional 22,000 hectares of land across the country. Finance Minister Dr Khatiwada also said that the construction of the proposed Mahakali Irrigation Project will move ahead as a national pride project. </span></span></span></span></h2>

<p>&nbsp;</p>
',
			'published' => true,
			'created' => '2020-05-28',
			'modified' => '2020-05-28',
			'keywords' => '',
			'description' => '',
			'sortorder' => '11838',
			'image' => '20200528075055_irrigation.jpg',
			'article_date' => '2020-05-28 19:47:42',
			'homepage' => false,
			'breaking_news' => false,
			'main_news' => true,
			'in_scroller' => null,
			'user_id' => '31'
		)
	)
)
$current_user = null
$logged_in = false
include - APP/View/Elements/side_bar.ctp, line 60
View::_evaluate() - CORE/Cake/View/View.php, line 971
View::_render() - CORE/Cake/View/View.php, line 933
View::_renderElement() - CORE/Cake/View/View.php, line 1224
View::element() - CORE/Cake/View/View.php, line 418
include - APP/View/Articles/index.ctp, line 157
View::_evaluate() - CORE/Cake/View/View.php, line 971
View::_render() - CORE/Cake/View/View.php, line 933
View::render() - CORE/Cake/View/View.php, line 473
Controller::render() - CORE/Cake/Controller/Controller.php, line 968
Dispatcher::_invoke() - CORE/Cake/Routing/Dispatcher.php, line 200
Dispatcher::dispatch() - CORE/Cake/Routing/Dispatcher.php, line 167
[main] - APP/webroot/index.php, line 117

Warning (2): simplexml_load_file() [<a href='http://php.net/function.simplexml-load-file'>function.simplexml-load-file</a>]: I/O warning : failed to load external entity &quot;&quot; [APP/View/Elements/side_bar.ctp, line 60]Code Context//    $file = 'http://aabhiyan:QUVLg8Wzs2F7G9N7@nepalstock.com.np/api/indexdata.xml';



    if(!$xml = simplexml_load_file($file)){
$viewFile = '/var/www/html/newbusinessage.com/app/View/Elements/side_bar.ctp'
$dataForView = array(
	'articles' => array(
		(int) 0 => array(
			'Article' => array(
				[maximum depth reached]
			)
		),
		(int) 1 => array(
			'Article' => array(
				[maximum depth reached]
			)
		),
		(int) 2 => array(
			'Article' => array(
				[maximum depth reached]
			)
		),
		(int) 3 => array(
			'Article' => array(
				[maximum depth reached]
			)
		),
		(int) 4 => array(
			'Article' => array(
				[maximum depth reached]
			)
		),
		(int) 5 => array(
			'Article' => array(
				[maximum depth reached]
			)
		),
		(int) 6 => array(
			'Article' => array(
				[maximum depth reached]
			)
		),
		(int) 7 => array(
			'Article' => array(
				[maximum depth reached]
			)
		),
		(int) 8 => array(
			'Article' => array(
				[maximum depth reached]
			)
		),
		(int) 9 => array(
			'Article' => array(
				[maximum depth reached]
			)
		),
		(int) 10 => array(
			'Article' => array(
				[maximum depth reached]
			)
		),
		(int) 11 => array(
			'Article' => array(
				[maximum depth reached]
			)
		),
		(int) 12 => array(
			'Article' => array(
				[maximum depth reached]
			)
		),
		(int) 13 => array(
			'Article' => array(
				[maximum depth reached]
			)
		),
		(int) 14 => array(
			'Article' => array(
				[maximum depth reached]
			)
		)
	),
	'current_user' => null,
	'logged_in' => false
)
$articles = array(
	(int) 0 => array(
		'Article' => array(
			'id' => '12104',
			'article_category_id' => '1',
			'title' => 'Nepal Signs USD 250 million Loan Agreement with ADB ',
			'sub_title' => '',
			'summary' => 'Nepal has signed a USD 250 million (Rs 30 billion aprox.) loan agreement with the Asian Development Bank (ADB) to fight coronavirus. ',
			'content' => '<p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif"><span style="font-size:15.0pt"><span style="font-family:&quot;Cambria&quot;,serif">Nepal has signed a USD 250 million (Rs 30 billion aprox.) loan agreement with the Asian Development Bank (ADB) to fight coronavirus. Finance Secretary Sishir Kumar Dhungana, and Mukhtor Khamudkhanov, ADB Country Director for Nepal signed agreement papers amid a function organised at the Ministry of Finance (ADB) on June 1. Finance Minister Dr Yuba Raj Khatiwada and other high officials of the government and ADB were present during the function. As per the agreement, the Manila-based lender will lend the money to Nepal under its COVID-19 Active Response and Expenditure Support (CARES) Programme. </span></span></span></span></p>

<p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif"><span style="font-size:15.0pt"><span style="font-family:&quot;Cambria&quot;,serif">ADB will provide the concessional loan as a budgetary support to help the government to strengthen the country&rsquo;s public health infrastructure. The loan will be utilised in scaling up testing, tracing and tracking of Covid-19 cases, establishing isolation facilities across the country and strengthening existing hospitals and health centres in terms of equipment, medicine and workforce. Similarly, ADB will also support Nepal &nbsp;to mitigate the adverse economic and social impacts of the Covid-19 pandemic through its CARES Programme.</span></span><br />
<span style="font-size:15.0pt"><span style="font-family:&quot;Cambria&quot;,serif">Speaking on the occasion Finance Secretary Dhungana said, &ldquo;This loan will be mobilized through the National Relief Programme of the government which targets to enhance public health system, provide social security and generate employment to face the challenges presented by the Covid-19 pandemic.&rdquo; ADB country director for Nepal Khamudkhanov reiterated the bank&rsquo;s commitment to support Nepal during difficult times.&nbsp;&nbsp;</span></span></span></span></p>
',
			'published' => true,
			'created' => '2020-06-02',
			'modified' => '2020-06-02',
			'keywords' => '',
			'description' => '',
			'sortorder' => '11852',
			'image' => '20200602102341_Nepal-ADB.jpg',
			'article_date' => '2020-06-02 10:21:40',
			'homepage' => false,
			'breaking_news' => false,
			'main_news' => true,
			'in_scroller' => null,
			'user_id' => '31'
		)
	),
	(int) 1 => array(
		'Article' => array(
			'id' => '12103',
			'article_category_id' => '1',
			'title' => 'Global IME Bank Supports Photojournalists  ',
			'sub_title' => '',
			'summary' => 'As a part of its corporate social responsibility (CSR), Global IME Bank Limited has provided press jackets to photojournalists working in different districts. ',
			'content' => '<p><span style="font-size:12pt"><span style="font-family:&quot;Times New Roman&quot;,serif"><span style="font-size:15.0pt"><span style="font-family:&quot;Cambria&quot;,serif">As a part of its corporate social responsibility (CSR), Global IME Bank Limited has provided press jackets to photojournalists working in different districts. The bank&rsquo;s Deputy General Manager Surendra Raj Regmi handed over the jackets to Dhruv Ale, president of Federation of Nepalese Photojournalist (FNPJ) amid a programme organised at Global IME&rsquo;s head office in Kamaladi on May 31. </span></span></span></span></p>

<p><span style="font-size:12pt"><span style="font-family:&quot;Times New Roman&quot;,serif"><span style="font-size:15.0pt"><span style="font-family:&quot;Cambria&quot;,serif">&ldquo;We expect that the press jackets will make the works of photojournalists easier in the current difficult situation,&rdquo; a statement issued by the bank quoted Regmi as saying. NFPJ President Ale thanked Global IME Bank for its support and said that the jackets would make safer for photojournalists to discharge their professional duties. </span></span></span></span></p>
',
			'published' => true,
			'created' => '2020-06-01',
			'modified' => '2020-06-01',
			'keywords' => '',
			'description' => '',
			'sortorder' => '11851',
			'image' => '20200601053453_Global IME.jpg',
			'article_date' => '2020-06-01 17:33:45',
			'homepage' => false,
			'breaking_news' => false,
			'main_news' => false,
			'in_scroller' => null,
			'user_id' => '31'
		)
	),
	(int) 2 => array(
		'Article' => array(
			'id' => '12102',
			'article_category_id' => '1',
			'title' => 'New Tax Plans for Electric Vehicles Sparks Criticism',
			'sub_title' => '',
			'summary' => 'Since the announcement of tax hike  on import of electric vehicles in the Federal Budget for FY2020/21 on may 28, the government has been facing scrutiny from various quarters of the society for the environment un-friendly move with critics saying the hike in taxes has pronounced a death knell for the electric four-wheelers that have grown in popularity over the past two years. ',
			'content' => '<p><span style="font-size:12pt"><span style="font-family:&quot;Times New Roman&quot;,serif"><span style="font-size:15.0pt"><span style="font-family:&quot;Cambria&quot;,serif">Since the announcement of tax hike&nbsp; on import of electric vehicles in the Federal Budget for FY2020/21 on May 28, the government has been facing scrutiny from various quarters of the society for the environment un-friendly move with critics saying the hike in taxes has pronounced a death knell for the electric four-wheelers that have grown in popularity over the past two years. In his budget speech, Finance Minister Dr Yuba Raj Khatiwada announced that electric vehicles will be levied 30-80 percent customs duty and 5-80 percent excise duty, depending upon the capacity of the four-wheelers. As per earlier arrangements, importers were required to pay 10 percent in customs duty and 13 percent in value added tax (VAT). </span></span></span></span></p>

<p><span style="font-size:12pt"><span style="font-family:&quot;Times New Roman&quot;,serif"><span style="font-size:15.0pt"><span style="font-family:&quot;Cambria&quot;,serif">Nepal Automobile Dealers Association (NADA) is the latest organisation to raise its voice against the massive increment of the tax rates. Issuing a press statement, the association said that the tax hike will make electric vehicles as costlier as internal combustion engine vehicles and hence will be less attractive to car buyers. &ldquo;The </span></span><span style="font-size:15.0pt"><span style="font-family:&quot;Cambria&quot;,serif">proposed tax will make the electric vehicles more expensive for the general people. It will ultimately hinder the government&rsquo;s policy to promote eco-friendly transport,&rdquo; reads the statement. Similarly, NADA also urged the government to ease the lockdown so that people can return to their business and work. &ldquo;Economic activities have been severely affected to the protracted closure. Now business activities need to be resumed by following health safety standards,&rdquo; NADA said. </span></span></span></span></p>

<p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif"><span style="font-size:15.0pt"><span style="font-family:&quot;Cambria&quot;,serif">In the meantime, three organisations have also asked the government to scrap the taxes imposed on import of electric vehicles. In a joint statement, Electric Vehicle Association of Nepal (EVAN), Nepal Forum of Environmental Journalists (NFEEJ) and Clean Energy Nepal (CEN) said that the new budgetary arrangements will discourage electric vehicles and promote fossil fuel run vehicles. </span></span></span></span></p>

<p>&nbsp;</p>
',
			'published' => true,
			'created' => '2020-06-01',
			'modified' => '2020-06-01',
			'keywords' => '',
			'description' => '',
			'sortorder' => '11850',
			'image' => '20200601050236_electric car.jpg',
			'article_date' => '2020-06-01 16:52:31',
			'homepage' => false,
			'breaking_news' => false,
			'main_news' => true,
			'in_scroller' => null,
			'user_id' => '31'
		)
	),
	(int) 3 => array(
		'Article' => array(
			'id' => '12101',
			'article_category_id' => '1',
			'title' => 'Sharp Contraction in Commercial Banks' Lending, New Loan Extension Falls to Zero',
			'sub_title' => '',
			'summary' => 'With the dwindling of credit demand due the lockdown imposed by the government, private sector lending of commercial banks has sharply contracted in the last month. ',
			'content' => '<h2><span style="font-size:18pt"><span style="font-family:&quot;Times New Roman&quot;,serif"><span style="font-size:16.0pt"><span style="font-family:&quot;Cambria&quot;,serif">With the dwindling of credit demand due the lockdown imposed by the government, private sector lending of commercial banks has sharply contracted in the last month. According to data provided by the Nepal Bankers&rsquo; Association (NBA), commercial banks registered Rs 16 billion of negative credit of their total loan extension in April-May (Baisakh) compared to March-April (Chaitra). &nbsp;The banks in March-April extended a total of Rs 42 billion in loans. The total loan extension of 27 commercial banks reached Rs 2,845 billion by March-April which declined by Rs 16 billion to Rs 2,829 billion in April-May. The total credit of banks become negative because of collection of old loans but zero extension of new loans. &nbsp;</span></span></span></span></h2>

<h2><span style="font-size:18pt"><span style="font-family:&quot;Times New Roman&quot;,serif"><span style="font-size:16.0pt"><span style="font-family:&quot;Cambria&quot;,serif">However, collection of deposits has remained satisfactory despite a dip in April-May. In March-April, commercial banks collected a total of Rs 49 billion in deposits which declined to Rs 30 billion in April-May. The total deposit collection of banks reached to Rs 3,219 billion in April-May from Rs 3,189 billion in March-April. &nbsp;</span></span></span></span></h2>

<h2><span style="font-size:18pt"><span style="font-family:&quot;Times New Roman&quot;,serif"><span style="font-size:16.0pt"><span style="font-family:&quot;Cambria&quot;,serif">Bhuvan Kumar Dahal, president of NBA said that halt in commercial and other transactions has negatively impacted the banking sector. &ldquo;With no end in sight of the lockdown, industries and businesses have remained shut down. As a result, bank transactions have decreased sharply,&rdquo; he mentioned. </span></span></span></span></h2>

<h2><span style="font-size:18pt"><span style="font-family:&quot;Times New Roman&quot;,serif"><span style="font-size:16.0pt"><span style="font-family:&quot;Cambria&quot;,serif">Bankers are having a hard time as the current situation does not allows for extension of new loans due to which interest rate income of banks is also following a declining trend. According to Dahal, the credit-to-core capital-deposit (CCD) ratio of commercial banks has decreased to 76 percent because of halt in extension of new loans. However, renewal of deposits is ongoing in banks. &ldquo;The banking system therefore has adequate investment-grade liquidity at present which is being invested in government bonds such as treasury bills,&rdquo; informed Dahal. </span></span></span></span></h2>
',
			'published' => true,
			'created' => '2020-06-01',
			'modified' => '2020-06-01',
			'keywords' => '',
			'description' => '',
			'sortorder' => '11849',
			'image' => '20200601032952_bank lending.jpg',
			'article_date' => '2020-06-01 15:27:47',
			'homepage' => false,
			'breaking_news' => false,
			'main_news' => true,
			'in_scroller' => null,
			'user_id' => '31'
		)
	),
	(int) 4 => array(
		'Article' => array(
			'id' => '12100',
			'article_category_id' => '1',
			'title' => 'Disquiet of Business Community Grows with Extension of Lockdown ',
			'sub_title' => '',
			'summary' => 'The country’s private sector has raised its voices against the 8th extension of the lockdown till June 14. ',
			'content' => '<p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif"><span style="font-size:16.0pt"><span style="font-family:&quot;Cambria&quot;,serif">The country&rsquo;s private sector has raised its voices against the 8<sup>th</sup> extension of the lockdown till June 14. A meeting of council of ministers held on May 30 decided to further extend the lockdown amid the rising number of Covid-19 infection cases and deaths. Critics say that instead of curbing the spread of coronavirus, the lockdown, which is in place since March 24, has crippled economic activities sending the country&rsquo;s economy into a deep recession unlike anything Nepal has experienced in the past. Major private sector bodies, that have avoided criticizing the government in terms of its handling of the situation, have now started criticizing the government for its indifference to their demands and ignoring warnings of economic fallout of the protracted lockdown. Expressing their displeasure, they have said that extension of the lockdown, without any change in the modality, will be disastrous for the already severely weakened economy. </span></span></span></span></p>

<p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif"><span style="font-size:16.0pt"><span style="font-family:&quot;Cambria&quot;,serif">Issuing a press statement on May 31, the Federation of Nepalese Chambers of Commerce and Industry (FNCCI) urged the government to rethink the duration and modality of the lockdown while considering the sensitiveness of public health. &ldquo;We urge the government to devise the modality of the lockdown so that the economic activities can be restarted,&rdquo; reads the statement. </span></span></span></span></p>

<p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif"><span style="font-size:16.0pt"><span style="font-family:&quot;Cambria&quot;,serif">Earlier, the government permitted to operate 42 types of industries during the lockdown period. However, the strict restrictions in transportation and movement of people and market access have hindered industrialists to operate their industries in full capacity. According to them, the lack of coordination between authorities and all three levels of the government has added to their problems to restart industrial activities. Industrialist complain that government is not showing any seriousness despite the worsening situation which will ultimately lead to the collapse of the industrial sector. They say that the government now needs to contemplate international practices in easing lockdown by further strengthening the health sector expanding the scope of Covid-19 testing, tracing tracking and by introducing effective social distancing measures to reduce the risk of spread of coronavirus. </span></span></span></span></p>

<p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif"><span style="font-size:16.0pt"><span style="font-family:&quot;Cambria&quot;,serif">FNCCI has said that it is concerning that the 8<sup>th</sup> extension of the lockdown was announced without taking suggestions from stakeholders at a time when the economic loss from the lockdown has amounted to 4 percent of the country&rsquo;s GDP, business activities have collapsed, and millions of people have lost their jobs. &nbsp;&ldquo;The government needs to engage in dialogue with stakeholders directly associated with the country&rsquo;s economy to extend restrictive measures,&rdquo; FNCCI has demanded.</span></span></span></span></p>

<p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif"><span style="font-size:16.0pt"><span style="font-family:&quot;Cambria&quot;,serif">Shekhar Golchha, senior vice president of FNCCI said that the lockdown should be eased for the industrial sector under any circumstances. &ldquo;We don&rsquo;t know why the government is ignoring the economic fallout. But one thing has become clear that only lockdown cannot save people from coronavirus,&rdquo; he opined, adding, &ldquo;It is true that our open border with India has increased risks of the contagion of the virus. However, there are no alternatives than to gradually ease the lockdown by maintaining effective health security.&rdquo; Golchha warned that number of Covid-19 cases and deaths could increase in the coming days and that all should be prepared to face the challenges. </span></span></span></span></p>

<p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif"><span style="font-size:16.0pt"><span style="font-family:&quot;Cambria&quot;,serif">According to him, the private sector has shouldered the burden of the country&rsquo;s economic recovery. &ldquo;We have provided employment to millions of Nepalis. The share of the private sector in government revenue stands at 70 percent. Therefore, an immense pressure has been created for the private sector in terms of revival of the pandemic-ravaged economy,&rdquo; noted Golchha, adding, &ldquo;Nevertheless, if the lockdown is extended without proper exit plans, the country&rsquo;s economy will reach of point where recovery will not be possible.&rdquo;</span></span></span></span></p>

<p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif"><span style="font-size:16.0pt"><span style="font-family:&quot;Cambria&quot;,serif">Satish Kumar Moore, president of Confederation of Nepalese Industries (CNI) also said that lockdown needs to be eased by implementing effective health security measures. According to him, the economic slump will further deepen if the government does not show seriousness to restart business activities. &ldquo;It will be appropriate to continue lockdown in areas highly affected by coronavirus while easing economic activities in less affected areas,&rdquo; he said. </span></span></span></span></p>

<p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif"><span style="font-size:16.0pt"><span style="font-family:&quot;Cambria&quot;,serif">Pashupati Murarka, former president of FNCCI said that the government now needs to shift its focus from stopping the spread of coronavirus to saving the country&rsquo;s economy from collapse. &ldquo;Supply chains have been badly affected by the lockdown. Some industries that have restarted their operations are unable to supply their products to the market. The ongoing lockdown has hindered cement industries to transport raw materials from mines to their factories,&rdquo; he said. &nbsp;According to him, the government needs to announce policies to ease the problems for the industrial sector. &ldquo;There are no alternatives for us than to learn to live and carry on our activities facing the challenges posed by the coronavirus,&rdquo; he expressed. </span></span></span></span></p>

<p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif"><span style="font-size:16.0pt"><span style="font-family:&quot;Cambria&quot;,serif">Rajesh Kaji Shrestha, president of Nepal Chamber of Commerce (NCC) said that the government has ignored the concerns and problems of the business community. &ldquo;It seems the government thinks that its one and only responsibility is to give continuation to lockdown and it does not have to pay attention the plight of the business community. Now the government urgently needs to prioritise changing the modality of the lockdown so that business activities are restarted,&rdquo; he said. </span></span></span></span></p>
',
			'published' => true,
			'created' => '2020-06-01',
			'modified' => '2020-06-01',
			'keywords' => '',
			'description' => '',
			'sortorder' => '11848',
			'image' => '20200601121121_lockdown.jpg',
			'article_date' => '2020-06-01 12:07:19',
			'homepage' => false,
			'breaking_news' => false,
			'main_news' => true,
			'in_scroller' => null,
			'user_id' => '31'
		)
	),
	(int) 5 => array(
		'Article' => array(
			'id' => '12099',
			'article_category_id' => '1',
			'title' => 'Xiaomi Launches Mi 10 and Mi Note 10 Lite in Nepal',
			'sub_title' => '',
			'summary' => 'Chinese smartphone brand Xiaomi has launched its two flagship handsets Mi 10 and Mi Note 10 Lite in the Nepali market. ',
			'content' => '<p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif"><span style="font-size:16.0pt"><span style="font-family:&quot;Cambria&quot;,serif">Chinese smartphone brand Xiaomi has launched its two flagship handsets Mi 10 and Mi Note 10 Lite in the Nepali market. Issuing a press statement, the company said that Mi 10 is the first smartphone to hit the Nepali market with a 108MP quad-camera setup and Qualcomm<sup> </sup>Snapdragon 865 processor for 5G connectivity. &nbsp;The phone comes with a 3D Curved AMOLED display, 4,780mAh battery, and 30W wireless charging. &ldquo;With 8GB RAM (LPDDR5) and 128GB or 256GB ROM (UFS 3.0), Mi 10 offers swift response and an ultra-smooth operating experience. Paired with the most sophisticated cooling system, Mi 10 uses LiquidCool 2.0 &ndash; an advanced cooling system consisting of a large vapor chamber, as well as multi-layer graphite and graphene stacks that dissipate heat to ensure sustained peak performance,&rdquo; reads the statement. </span></span></span></span></p>

<p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif"><span style="font-size:16.0pt"><span style="font-family:&quot;Cambria&quot;,serif">Xiaomi claimed that Mi 10 redefines smartphone photography and videography with its OIS-enabled 108MP quad rear camera setup and users can shoot ultra-clear shots along with details unseen to the naked eye with the 108MP primary sensor and experience the full view of their subjects with the 13MP ultra-wide angle lens, with 123&deg; FOV. The company informed that Mi 10 also supports UHD 8K video recording at 30fps.</span></span></span></span></p>

<p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif"><span style="font-size:16.0pt"><span style="font-family:&quot;Cambria&quot;,serif">Similarly, Mi Note 10 Lite offers a 6.47&rsquo;&rsquo; curved AMOLED display, a 4MP quad-camera setup, Qualcomm<sup> </sup>Snapdragon 730G SoC and a large-capacity 5,260mAh battery, according to the statement. </span></span></span></span></p>

<p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif"><span style="font-size:16.0pt"><span style="font-family:&quot;Cambria&quot;,serif">&ldquo;Sporting a first class 6.47&rsquo;&rsquo; 3D curved AMOLED display and a 3D curved glass back, Mi Note 10 Lite provides a premium in-hand feel,&rdquo; said the company. According to Xiaomi, with smoothly curved and tapered edges on four sides, Mi Note 10 Lite brings about an outstanding 91.4 percent screen-to-body ratio that will surely amaze with its immersive viewing experience.</span></span></span></span></p>

<p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif"><span style="font-size:16.0pt"><span style="font-family:&quot;Cambria&quot;,serif">&nbsp;&ldquo;With Mi 10, we aim to redefine the premium smartphone experience for consumers in Nepal. This device is a pinnacle of smartphone design and engineering, pushing the boundaries of what&#39;s possible on a handheld device. With its flagship OIS enabled 108MP Quad Camera setup, UHD 8K video recording, world&rsquo;s fastest 30W wireless charging, we hope our users can create content in a way never thought possible before, with Mi 10,&rdquo; the statement quoted Sourabh Kothari, Xiaomi&rsquo;s country general manager for Nepal, as saying. </span></span></span></span></p>

<p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif"><span style="font-size:16.0pt"><span style="font-family:&quot;Cambria&quot;,serif">As per the company, </span></span><span style="font-size:16.0pt"><span style="font-family:&quot;Cambria&quot;,serif">Mi 10 will be available in two colour variants - twilight grey and coral green at a price of Rs 89,999<strong>.</strong> Similarly, Mi Note 10 Lite will be available in 6GB + 128GB variant and three colour options - midnight black, glacier white and nebula purple at Rs 44,999. &ldquo;Both phones will be available for purchase across offline stores, retail partners and online partners Daraz and Sastodeal very soon,&rdquo; informed the company. </span></span></span></span></p>

<p>&nbsp;</p>

<p>&nbsp;</p>

<p>&nbsp;</p>
',
			'published' => true,
			'created' => '2020-05-31',
			'modified' => '2020-05-31',
			'keywords' => '',
			'description' => '',
			'sortorder' => '11847',
			'image' => '20200531054346_MI NOTE 10.jpg',
			'article_date' => '2020-05-31 17:41:39',
			'homepage' => false,
			'breaking_news' => false,
			'main_news' => false,
			'in_scroller' => null,
			'user_id' => '31'
		)
	),
	(int) 6 => array(
		'Article' => array(
			'id' => '12096',
			'article_category_id' => '1',
			'title' => ' Rs 1 billion in Fines Waived for Nepali Importers at Kolkata Port',
			'sub_title' => '',
			'summary' => 'Nepali importers have received waivers of about Rs 1 billion in detention and ground rent at the Kolkata Port for the lockdown period.',
			'content' => '<h1><span style="font-size:24pt"><span style="font-family:&quot;Times New Roman&quot;,serif"><span style="font-size:16.0pt"><span style="font-family:&quot;Cambria&quot;,serif">Nepali importers have received waivers of about Rs 1 billion in detention and ground rent at the Kolkata Port for the lockdown period. Vineet Kumar, chairman of Kolkata Port Trust informed that fines for Nepali importers were waived because of their inability to transport the containers shipped from third countries due to the ongoing lockdown in India which is in place since March 22. According to him, Nepali importers have received Rs 930 million (INR 580 million) in waivers in detention and ground rent at the port. </span></span></span></span></h1>

<h1><span style="font-size:24pt"><span style="font-family:&quot;Times New Roman&quot;,serif"><span style="font-size:16.0pt"><span style="font-family:&quot;Cambria&quot;,serif">Of the total amount, Rs 880 million has been waived in detention charges to shipping companies and Rs 50 million in ground rent to the port authority. Earlier, the government of India had directed port authorities of the country not to fine importers and levy them additional charges for the period of March 22 to May 3. However, importers won&rsquo;t be receiving such waivers after March 22 even the lockdown has been extended till May 31. The Indian government has relaxed the ongoing lockdown from May 3 by easing transport and movement of people. </span></span></span></span></h1>

<h1><span style="font-size:24pt"><span style="font-family:&quot;Times New Roman&quot;,serif"><span style="font-size:16.0pt"><span style="font-family:&quot;Cambria&quot;,serif">Nepali importers enjoy free time of 15 days for Nepal bound road containers and 20 days for rail containers at the Kolkata Port. They are required to pay ground rent if they do not clear their shipments from the port after the end of the free time. &nbsp;The port authority has said that the free time will be calculated before March 22 and after May 3. Similarly, shipping companies provide free time of 14-21 days. Nepali importers who get five days to return the containers after the shipments are made to the Birgunj Dry Port; they are required to pay detention charges if they do not return the containers within the stipulated time. &nbsp;According to the Kolkata Port authority officials, some shipping companies have waived detention charges on the basis of mutual understanding with Nepali importers even after May 3. &nbsp;Over 4,000 Nepal bound containers were stuck at the port after the sudden halt in transportation and movement of people due to the lockdown imposed by the government to curb the spread of coronavirus. The containers were transported to nearby freight station (CFS) after the space at the port got constrained due to increased numbers of shipments. Kolkata Port Authority Chairman Kumar informed that the CFS operator has been directed to provide Nepali importers an additional 15 days of free time to transport the containers. </span></span></span></span></h1>
',
			'published' => true,
			'created' => '2020-05-31',
			'modified' => '2020-05-31',
			'keywords' => '',
			'description' => '',
			'sortorder' => '11846',
			'image' => '20200531053058_kolkata port.jpg',
			'article_date' => '2020-05-31 17:25:03',
			'homepage' => false,
			'breaking_news' => false,
			'main_news' => true,
			'in_scroller' => false,
			'user_id' => '31'
		)
	),
	(int) 7 => array(
		'Article' => array(
			'id' => '12095',
			'article_category_id' => '1',
			'title' => 'Over 1,000 DEMAT Accounts Opened during Lockdown ',
			'sub_title' => '',
			'summary' => 'While the stock market has remained closed for the last 69 days due to the lockdown, the number of people opening DEMAT account for share transactions has increased significantly. ',
			'content' => '<p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif"><span style="font-size:16.0pt"><span style="font-family:&quot;Cambria&quot;,serif">While the stock market has remained closed for the last 69 days due to the lockdown, the number of people opening DEMAT account for share transactions has increased significantly. According to the CDS and Clearing (CDSC) Limited, 1,062 DEMAT accounts have been opened over the last two months. Suresh Neupane, spokesperson at CDSC said that shareholders have opened accounts to secure their shares at a time when uncertainty has prevailed in financial market. &nbsp;According to him, the increase in the number of DEMAT accounts is also attributed to the continuation of services of merchant banks and depository participant (DP) offices. The number of DEMAT accounts has reached 1.66 million after the account was made mandatory four years ago when ASBA system was introduced for share transaction. Stock investors are required to mention their DEMAT accounts while applying for initial public offerings (IPOs) and doing share transactions in the secondary market. </span></span></span></span></p>

<p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif"><span style="font-size:16.0pt"><span style="font-family:&quot;Cambria&quot;,serif">As the capital market agencies are putting their efforts for the full digitization of share transactions from the next fiscal year, the increase number of DEMAT accounts show the attraction of stock investors in digital transaction. Damaru Ballav Ghimire, a stock investor, said that troubles related to archiving of paper share certificate has ended with the commencement of DEMAT account transaction. According to him, he has updated his all 350 share certificates in the account. &ldquo;Now investors don&rsquo;t have to get into queue anymore to archive their certificates and they don&rsquo;t have to worry about losing the paper certificates,&rdquo; he said. Ghimire said that many stock investors are yet to deposit their shares into their DEMAT accounts due to which they are not able to receive dividends on time. According to CDSC, 5.24 billion units of shares have been deposited into DEMAT accounts. </span></span></span></span></p>
',
			'published' => true,
			'created' => '2020-05-31',
			'modified' => '2020-05-31',
			'keywords' => '',
			'description' => '',
			'sortorder' => '11845',
			'image' => '20200531051929_demat.jpg',
			'article_date' => '2020-05-31 17:17:06',
			'homepage' => false,
			'breaking_news' => false,
			'main_news' => true,
			'in_scroller' => null,
			'user_id' => '31'
		)
	),
	(int) 8 => array(
		'Article' => array(
			'id' => '12094',
			'article_category_id' => '1',
			'title' => 'HAN Revise Charges for Covid-19 Quarantine at Hotels',
			'sub_title' => '',
			'summary' => 'Hotel Association Nepal (HAN) has lowered the charges for providing Covid-19 quarantine facilities at hotels. ',
			'content' => '<p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif"><span style="font-size:16.0pt"><span style="font-family:&quot;Cambria&quot;,serif">Hotel Association Nepal (HAN) has lowered the charges for providing Covid-19 quarantine facilities at hotels. The hotel industry body, which had earlier set charges ranging from Rs 3,000 to Rs 16,000 per person to keep foreign returnees has now reduced the charge to Rs 3,000 per person for one-star and tourist-level hotels. &nbsp;According to Sajan Shakya, general secretary at HAN, two individuals sharing a same room at tourist-level hotels have to pay Rs 4,000 per day as per the revised rate. </span></span></span></span></p>

<p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif"><span style="font-size:16.0pt"><span style="font-family:&quot;Cambria&quot;,serif">Earlier, the rate was Rs 5,000 for a person and Rs 6,000 for two. HAN has said that 20,000 hotel rooms across the country can be used as quarantine facilities. Among the 15 chapters of HAN, Kathmandu, Bhaktapur, Pokhara, Chitwan, Bhairahawa, Nepalgunj and Biratnagar chapters have already notified the industry body about the number of hotel rooms that can be used as isolation facilities. </span></span></span></span></p>

<p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif"><span style="font-size:16.0pt"><span style="font-family:&quot;Cambria&quot;,serif">According to Shakya, 3,100 hotel rooms in Kathmandu, 4,000 each in Pokhara, Chitwan and Bhairahawa, 2,500 in Nepalgunj and the remaining 2,400 rooms in Bhaktapur and Biratnagar can be used for accommodation of foreign returnees. As per arrangements announced by HAN, individuals using rooms of five-star hotels and deluxe resorts will be charged Rs 16,000 per person while it is Rs 10,000 for two individuals sharing a same room. &nbsp;Similarly, the rates for using a four-star hotel room have been set at Rs 14,000 and Rs 8,000. The isolation stay at three-star and two-star hotels has been set at Rs 10,000 for an individual and Rs 6,000 for two people sharing a same room. HAN has informed that hotels will provide meals four times a day, communications and other basic services to those coming for isolation. </span></span></span></span></p>

<p>&nbsp;</p>
',
			'published' => true,
			'created' => '2020-05-31',
			'modified' => '2020-05-31',
			'keywords' => '',
			'description' => '',
			'sortorder' => '11844',
			'image' => '20200531051443_room.jpg',
			'article_date' => '2020-05-31 17:11:55',
			'homepage' => false,
			'breaking_news' => false,
			'main_news' => true,
			'in_scroller' => null,
			'user_id' => '31'
		)
	),
	(int) 9 => array(
		'Article' => array(
			'id' => '12093',
			'article_category_id' => '1',
			'title' => 'Sunrise Bank and Eazy Care Join Hands ',
			'sub_title' => '',
			'summary' => 'Sunrise Bank Limited has signed an agreement with the online medical site Eazy Care to provide healthcare to its customers. ',
			'content' => '<p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif"><span style="font-size:15.0pt"><span style="font-family:&quot;Cambria&quot;,serif">Sunrise Bank Limited has signed an agreement with the online medical site Eazy Care to provide healthcare to its customers. Issuing a press statement, the bank said that its customers can get upto 22 percent in discount while availing services from Eazy Care during the lockdown.</span></span></span></span></p>

<p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif"><span style="font-size:15.0pt"><span style="font-family:&quot;Cambria&quot;,serif">As per the agreement, the bank&rsquo;s customers can get 12 percent discount and further 10 percent or upto Rs 500 in cashback by making payments to Eazy Care using QR scanner, debit and credit cards on purchase of medicine. </span></span></span></span></p>

<p>&nbsp;</p>
',
			'published' => true,
			'created' => '2020-05-30',
			'modified' => '2020-05-30',
			'keywords' => '',
			'description' => '',
			'sortorder' => '11843',
			'image' => '20200530044555_sunrise.jpg',
			'article_date' => '2020-05-30 16:43:56',
			'homepage' => false,
			'breaking_news' => false,
			'main_news' => false,
			'in_scroller' => null,
			'user_id' => '31'
		)
	),
	(int) 10 => array(
		'Article' => array(
			'id' => '12092',
			'article_category_id' => '1',
			'title' => 'Budget Provides an Additional Rs 60 billion Relief to Private Sector: FinMin ',
			'sub_title' => '',
			'summary' => 'Finance Minister Dr Yuba Raj Khatiwada has said that the budget has offered an additional Rs 60 billion in relief to businesses.',
			'content' => '<h2><span style="font-size:13pt"><span style="font-family:&quot;Calibri Light&quot;,sans-serif"><span style="font-size:15.0pt"><span style="font-family:&quot;Cambria&quot;,serif">Finance Minister Dr Yuba Raj Khatiwada has said that the budget has offered an additional Rs 60 billion in relief to businesses. &quot;The relief will be provided in the forms of cash, subsidy, tax and fine discounts and concessional loans and the cumulative amount would reach Rs.60 billion,&quot; he said in a post-budget interaction with financial journalists organised at the Ministry of Finance on May 29.</span></span></span></span></h2>

<h2><span style="font-size:13pt"><span style="font-family:&quot;Calibri Light&quot;,sans-serif"><span style="font-size:15.0pt"><span style="font-family:&quot;Cambria&quot;,serif">According to Dr Khatiwada, the refinancing facility to the businesses amounts to Rs 20 billion and the government will mobilise Rs 14 billion to subsidise the interest of the business loans. The government in the Federal Budget for FY 2020/21 has announced to provide business loan at 5 percent. The rest of the interest, which is about 6-7 percent, will be paid to the banks and financial institutions by the government. The finance minister said that the tax concessions would provide a benefit of Rs 6.5 billion to the private sector.</span></span></span></span></h2>

<h2><span style="font-size:13pt"><span style="font-family:&quot;Calibri Light&quot;,sans-serif"><span style="font-size:15.0pt"><span style="font-family:&quot;Cambria&quot;,serif">&quot;The government will pay the social security contributions of the private sector workers for the lockdown period,&quot; Dr Khatiwada said. He said the budget was labour-centred and aims to create jobs, provide social security and relief to the workers. &quot;We aim to create about 500,000 additional employments in various sectors like business, industries, infrastructure and self-employment,&quot; he said. <em>(RSS)</em></span></span></span></span><br />
&nbsp;</h2>
',
			'published' => true,
			'created' => '2020-05-30',
			'modified' => '2020-05-30',
			'keywords' => '',
			'description' => '',
			'sortorder' => '11842',
			'image' => '20200530042434_post-budget interaction.jpg',
			'article_date' => '2020-05-30 16:22:42',
			'homepage' => false,
			'breaking_news' => false,
			'main_news' => true,
			'in_scroller' => false,
			'user_id' => '31'
		)
	),
	(int) 11 => array(
		'Article' => array(
			'id' => '12091',
			'article_category_id' => '1',
			'title' => '‘Budget Traditional, Economic Growth Target Unrealistic’',
			'sub_title' => '',
			'summary' => 'The Federal Budget for FY2020/21 has drawn mixed reaction from former finance ministers, economists and private sector leaders. ',
			'content' => '<p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif"><span style="font-size:15.0pt"><span style="font-family:&quot;Cambria&quot;,serif">The Federal Budget for FY2020/21</span></span><span style="font-size:15.0pt"><span style="font-family:&quot;Cambria&quot;,serif"> has drawn mixed reaction from former finance ministers, economists and private sector leaders. In a post-budget virtual interaction programme organised by the Society of Economic Journalists &ndash; Nepal (SEJON) on May 29, they describe the budget for the upcoming fiscal year as &lsquo;traditional&rsquo; and ordinary which cannot fulfill the needs of the extraordinary times and take the country&rsquo;s economy out of the crisis. They also said that the economic growth target of 7 percent as unrealistic to achieve. According to them, the targets of economic growth, revenue collection, foreign assistance and public expenditure are ambitious. </span></span></span></span></p>

<p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif"><span style="font-size:15.0pt"><span style="font-family:&quot;Cambria&quot;,serif">Commenting on the budget, former Prime Minister and finance minister Dr Baburam Bhattarai said, &ldquo;The budget should have long term plans for socio-economic development. But this year&rsquo;s budget is nothing more than &lsquo;traditional&rsquo;. </span></span><span style="font-size:15.0pt"><span style="font-family:&quot;Cambria&quot;,serif">The pandemic presented a right time for the finance minister to turn challenges into opportunities. But his divided loyalties stopped him to do so. The budget has failed to give priority to economic sectors that need significant investment to revive.&rdquo; Dr Bhattarai said that the budget is directionless which is neither socialism-oriented nor market-oriented. According to him, government to take responsibility to ensure education and health to all citizens which won&rsquo;t be possible through a traditional budget. </span></span></span></span></p>

<p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif"><span style="font-size:15.0pt"><span style="font-family:&quot;Cambria&quot;,serif">&ldquo;Budget for the Prime Minster Employment Programme (PEMP) has been increased. But neither the targeted group will benefit nor the money from state coffer will be utilized if the earmarked budget is spent in activities such as cutting of grasses like in previous years,&rdquo; said Dr Bhattarai. He suggested the government to increase foreign borrowing to manage finances for economic recovery. &ldquo;Foreign debt accounts for 32 percent of Nepal&rsquo;s GDP. It can be increased to 60-65 percent. The government must not hesitate to take loans in these trying times,&rdquo; he added. He claimed that the budget won&rsquo;t be able generate employment as targeted due to the scattered allocations. </span></span></span></span></p>

<p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif"><span style="font-size:15.0pt"><span style="font-family:&quot;Cambria&quot;,serif">Former finance minister Dr Ram Sharan Mahat said that the budget for the upcoming fiscal year is filled with promises and promotional programmes. According to him, the assurances given for employment generation, agriculture and industrial sector development are very difficult to implement at the moment. Dr Mahat objected the internal debt target set by the government in the budget. &ldquo;In the past, the government use to take internal loans not more than 2-3 percent of GDP. But this time it has been set at 5 percent. If the government increases internal borrowings, it will reduce the liquidity in the financial market and will affect generation of jobs and expansion of industrial and business activities,&rdquo; he said. He criticised the government for not lowering corporate tax and increasing customs duty on import of electric vehicles even seeing possibility of excess of electricity in the country. </span></span></span></span></p>

<p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif"><span style="font-size:15.0pt"><span style="font-family:&quot;Cambria&quot;,serif">Another former finance minister Surendra Pandey, however, defended the budget saying that the government has announced arrangements by properly evaluating the country&rsquo;s economic situation and public health. &ldquo;Slashing of public expenditure and increase of budget in public health are positive steps. However, there are challenges to keep the hospitals operational,&rdquo; said Pandey. According to him, there can be difficulties for the government to sustain recurrent expenditures as the revenue target of Rs 900 billion set the upcoming fiscal is relatively low. Similarly, he viewed the 7 percent economic growth target for the upcoming fiscal year as challenging. </span></span></span></span></p>

<p><strong><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif"><span style="font-size:15.0pt"><span style="font-family:&quot;Arial&quot;,sans-serif">Targets Unachievable: Economists</span></span></span></span></strong></p>

<p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif"><span style="font-size:15.0pt"><span style="font-family:&quot;Arial&quot;,sans-serif">Speaking at the interrraction programme, economists said that many targets in the budget won&rsquo;t be unachieved. Dr Shankar Sharma, former vice chairman of National Planning Commission (NPC) said, &ldquo;</span></span><span style="font-size:15.0pt"><span style="font-family:&quot;Mangal&quot;,serif">The target to increase foreign assistance by 125 percent compared to the current fiscal year is impossible to achieve. Given our capacity, I think foreign assistance will be 40 percent less than aimed. On the other hand the 7 percent economic growth target is challenging because of protracted halt in industrial and business activities, and decline in remittance inflow which has already gone down by 20 percent and could further decrease by 50 percent in the coming months.&rdquo; </span></span></span></span></p>

<p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif"><span style="font-size:15.0pt"><span style="font-family:&quot;Mangal&quot;,serif">Prof Dr Govinda Nepal said that the size of the budget is appropriate to deal with the current situation. According to him, the budget was unveiled with a broader consensus and the government&rsquo;s priority to the health sector development and prevention and control of coronavirus is positive. &ldquo;However, the relief measures announced for various economic sectors are not sufficient. The government needs to form separate task force comprising of all stakeholders to review the measures,&rdquo; he mentioned. </span></span></span></span></p>

<p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif"><strong><span style="font-size:15.0pt"><span style="font-family:&quot;Cambria&quot;,serif">&nbsp;Not a stimulus package, scattered relief: Private Sector</span></span></strong></span></span></p>

<p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif"><span style="font-size:15.0pt"><span style="font-family:&quot;Cambria&quot;,serif">The country&rsquo;s private sector, which had demanded that the government to come up with stimulus package 5 percent of GDP, has expressed its displeasure over the measures announced in the Federal Budget for FY2020/21. Speaking at the programme, private sector leaders said that the measures announced by the government cannot be called stimulus package and that the scattered relief won&rsquo;t be helpful to revive economic activities. Shekhar Golchha, senior vice president of Federation of Nepalese Chamber of Commerce and Industries (FNCCI), commented , &ldquo;At a time when economic loss has reached 2-3 percent of the country&rsquo;s GDP and 1.5 million Nepalis have lost their jobs, the budget has indicated that the government has remained conservative rather than becoming liberal to take the economy out of the crisis.&rdquo; According to him, the private sector had demanded that the budget incorporate appropriate measures for liquidity management, bank interest rate, labour management and concession in demand charge of electricity. &ldquo;Among them, the budget has failed to address our demand of labour management which has become the most challenging issue for us at present,&rdquo; he said. &nbsp;Golchha mentioned that the government also did not addressed private sector&rsquo;s demand to ease labour management for those looking to close their industries, archiving of assets and VAT concession.</span></span></span></span></p>

<p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif"><span style="font-size:15.0pt"><span style="font-family:&quot;Cambria&quot;,serif">Kamalesh Agrawal, vice president of Nepal Chamber of Commerce (NCC) said that the government did not meet the expectations of business community as it was under political pressure. &ldquo;The stimulus package suggested by the private sector was not taken seriously. Refinancing and stimulus package differ in scope and features. We have demanded stimulus package worth 5 percent of the country&rsquo;s GDP, but the relief measures announced in the budget are just 1.5 percent of GDP,&rdquo; said Agrawal. According to him, the target to raise Rs 225 billion through internal borrowing will result in shortage of liquidity and affect bank interest rates. </span></span></span></span></p>

<p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif"><span style="font-size:15.0pt"><span style="font-family:&quot;Cambria&quot;,serif">Vishnu Agrawal, senior vice president of Confederation of Nepalese Industries (CNI) commented that the budget has failed to incorporate measures to increase the aggregate demand in the market. &ldquo;The scattered relief measures will not be much helpful in the economic recovery,&rdquo; he remarked. Agrawal said that the revenue target of the government is challenging as demand will remain low in the next fiscal year, hence impacting collection of VAT and income taxes. </span></span></span></span></p>

<p>&nbsp;</p>
',
			'published' => true,
			'created' => '2020-05-30',
			'modified' => '2020-05-30',
			'keywords' => '',
			'description' => '',
			'sortorder' => '11841',
			'image' => '20200530032905_photo post budget[6898].jpg',
			'article_date' => '2020-05-30 15:25:01',
			'homepage' => false,
			'breaking_news' => false,
			'main_news' => true,
			'in_scroller' => null,
			'user_id' => '31'
		)
	),
	(int) 12 => array(
		'Article' => array(
			'id' => '12090',
			'article_category_id' => '1',
			'title' => 'Arrangements in Budget Inadequate to Revive Economic Activities: Private Sector',
			'sub_title' => '',
			'summary' => 'The government has dashed the hopes of the country’s private sector that a comprehensive stimulus package will be announced in the Federal Budget for FY2020/21 to kick-start the economic recovery. ',
			'content' => '<h1><span style="font-size:24pt"><span style="font-family:&quot;Times New Roman&quot;,serif"><span style="font-size:15.0pt"><span style="font-family:&quot;Arial&quot;,sans-serif">The government has dashed the hopes of the country&rsquo;s private sector that a comprehensive stimulus package will be announced in the Federal Budget for FY2020/21 to kick-start the economic recovery. Industrialists and businesspersons say that the measures announced in the budget haven&#39;t&nbsp;offered&nbsp;substantial relief to the crisis-stricken private sector and that many of their demands have gone unaddressed. &nbsp;</span></span></span></span></h1>

<h1><span style="font-size:24pt"><span style="font-family:&quot;Times New Roman&quot;,serif"><span style="font-size:15.0pt"><span style="font-family:&quot;Arial&quot;,sans-serif">The government has announced establishment of two refinancing funds totaling Rs 150 billion. As per the arrangements, Nepal Rastra Bank will provide refinancing facility of Rs 100 billion. Separately, a Rs 50 billion refinancing fund will be established with money received from the government, state-owned enterprises. </span></span></span></span></h1>

<h1><span style="font-size:24pt"><span style="font-family:&quot;Times New Roman&quot;,serif"><span style="font-size:15.0pt"><span style="font-family:&quot;Arial&quot;,sans-serif">Both funds will provide concessional loans to businesses to restart their activities and pay salaries to their employees. According to the arrangements in the budget, businesses in agriculture, cottage industries, small and medium enterprises (SMEs), manufacturing industries, hotels and tourism sector enterprises can avail credit from the fund at 5 percent interest rate. </span></span></span></span></h1>

<h1><span style="font-size:24pt"><span style="font-family:&quot;Times New Roman&quot;,serif"><span style="font-size:15.0pt"><span style="font-family:&quot;Arial&quot;,sans-serif">&ldquo;These are only basic&nbsp;reliefs for the private sector. We had suggested the government to bring stimulus package worth 5 percent of the country&rsquo;s GDP. The measures announced in the budget are 4 percent of GDP,&rdquo; Said Bhawani Rana, president of Federation of Nepalese Chamber of Commerce and Industry (FNCCI). &nbsp;&ldquo;There are not many things in the budget to encourage the private sector. However, arrangement for refinancing, programmes to support MSMEs, reduction in demand charge of electricity, income tax concession for tourism sector are positive steps,&rdquo; she added. Rana said that it has become challenging for the crisis-stricken businesses to move ahead in the coming days due to lack of clarity in mobilization of capital and relief packages. </span></span></span></span></h1>

<h1><span style="font-size:24pt"><span style="font-family:&quot;Times New Roman&quot;,serif"><span style="font-size:15.0pt"><span style="font-family:&quot;Arial&quot;,sans-serif">Rajendra Malla, senior vice president of Nepal Chamber of Commerce (NCC) said that the budget is overall positive for the private sector. &ldquo;The increase of budget allocation for public health is very timely. However, the Ministry of Finance has not given its attention to the revenue target and whether or not the government can manage its expenses at present. The revenues sources have shrunken significantly at the moment,&rdquo; he opined. &nbsp;According to Malla, the government, which has prioritised agriculture sector development in the Federal Budget for FY2020/21, has not given preference to internal logistic and transportation due to which production of goods will remain costlier. </span></span></span></span></h1>

<h1><span style="font-size:24pt"><span style="font-family:&quot;Times New Roman&quot;,serif"><span style="font-size:15.0pt"><span style="font-family:&quot;Arial&quot;,sans-serif">Dhruva Thapa, president of Cement Manufacturers&rsquo; Association, Nepal (CMAN) said the the arrangements in the budget are &lsquo;traditional&rsquo; except for the health sector development. He stated continuation of consituency development fund and failure to bring budget on the basis of priority even at this time of crisis as dejected. &ldquo;There are concerns how all industrialists and business persons can avail the refinancing facilities. The success of the government&rsquo;s announcement depends on how the arrangements in the budget are implemented,&rdquo; he said. </span></span></span></span></h1>
',
			'published' => true,
			'created' => '2020-05-29',
			'modified' => '2020-05-29',
			'keywords' => '',
			'description' => '',
			'sortorder' => '11840',
			'image' => '20200529043520_recovery.jpg',
			'article_date' => '2020-05-29 16:33:43',
			'homepage' => false,
			'breaking_news' => false,
			'main_news' => true,
			'in_scroller' => false,
			'user_id' => '31'
		)
	),
	(int) 13 => array(
		'Article' => array(
			'id' => '12089',
			'article_category_id' => '1',
			'title' => 'Govt Aims to Create 800,000 Jobs',
			'sub_title' => '',
			'summary' => 'At a time when unemployment in Nepal has excerberated as a result of sharp increase in the number of Nepalis losing jobs inside and outside the country due to the Covid-19 pandemic, the government has announced new programmes in the Federal Budget for FY2020/21 to create 800,000 jobs. ',
			'content' => '<h1><span style="font-size:24pt"><span style="font-family:&quot;Times New Roman&quot;,serif"><span style="font-size:15.0pt"><span style="font-family:&quot;Arial&quot;,sans-serif">At a time when unemployment in Nepal has excerberated as a result of sharp increase in the number of Nepalis losing jobs inside and outside the country due to the Covid-19 pandemic, the government has announced new programmes in the Federal Budget for FY2020/21 to create 800,000 jobs. Presenting the budget in the House of Representatives, Finance Minister Dr Yuba Raj Khatiwada said that the creation of new jobs has been prioritised in the budget for the upcoming fiscal year estimating that one million Nepalis will lose their jobs within the country while 500,000 will become jobless abroad. Dr Khatiwada mentioned that the programmes in the new budget aim to provide employment opportunities to all Nepalis through dignified jobs, social security and ideal labour relations to increase the labour productivity in the country. </span></span></span></span></h1>

<h1><span style="font-size:24pt"><span style="font-family:&quot;Times New Roman&quot;,serif"><span style="font-size:15.0pt"><span style="font-family:&quot;Arial&quot;,sans-serif">It is estimated that 500,000 Nepalis enter job market every year. The government has predicted that out of 4.79 million people currently in foreign employment, the pandemic-induced crisis has forced about 1.5 million to return to the country. This situation has posed a huge challenge for the government which has so far struggled to generate enough for Nepalis youths. </span></span></span></span></h1>

<p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif"><span style="font-size:15.0pt"><span style="font-family:&quot;Arial&quot;,sans-serif">The Prime Minister Employment Programme (PMEP) will be the biggest government undertaking in employment creation which aims to generate 200,000 jobs. &nbsp;PMEP, which has been implemented in all three levels of the government, will ensure 100-day employment. The budget allocation for the programme for the upcoming fiscal year has been increased to Rs 11.60 billion from Rs 5 billion in the current fiscal year. Similarly, Rs 1 billion has been allocated to conduct handicraft, plumbing, electronics, cook, mansion, tailoring, beautician, barber trainings on federal and central levels to generate 50,000 jobs. Meanwhile, Rs 4.34 billion has been allocated to provide technical trainings to 75,000 individuals. </span></span></span></span></p>

<p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif"><span style="font-size:15.0pt"><span style="font-family:&quot;Arial&quot;,sans-serif">The budget has aimed to generate 40,000 jobs through Small Farmers Credit Programme and 12,000 jobs through Self-employment Loan Programme. Meanwhile, the government has targeted to create 127,000 through micro entrepreneurship programme and an additional 30,000 jobs through programmes based on utilisation of forest resources. &ldquo;32,000 instituions promoted by the Poverty Allevation Fund will transformed into cooperatives to create 150,000 jobs,&rdquo; Finance Minister Dr Khatiwada said. </span></span></span></span></p>

<h1><span style="font-size:24pt"><span style="font-family:&quot;Times New Roman&quot;,serif"><span style="font-size:15.0pt"><span style="font-family:&quot;Arial&quot;,sans-serif">In his budget speech, the finance minister said that local units will run infrastructure development and social programmes and &lsquo;food for work&rsquo; programme targeting people from poor families. Similarly, those who have lost their jobs in the country and foreign returnees will be employed in labour-intensive development works. The government has announced to further tighten to employ foreign workers without obtaining labour permits. Presently, there is an arrangement in this regard, but hundreds of thousands of foreign workers, particularly from India, are working in Nepal without such permits due to lax regulation and monitoring. Economists say that this situation offers big opportunities to Nepal to replace foreign workforce in the country with Nepali workers. Dr Shankar Sharma, former vice chairman of National Planning Commission (NPC) thinks that this will help to enhance skills of Nepali workers which would ultimately make a big difference. &nbsp;</span></span></span></span></h1>
',
			'published' => true,
			'created' => '2020-05-29',
			'modified' => '2020-05-29',
			'keywords' => '',
			'description' => '',
			'sortorder' => '11839',
			'image' => '20200529013427_employment.jpg',
			'article_date' => '2020-05-29 13:32:30',
			'homepage' => false,
			'breaking_news' => false,
			'main_news' => true,
			'in_scroller' => null,
			'user_id' => '31'
		)
	),
	(int) 14 => array(
		'Article' => array(
			'id' => '12088',
			'article_category_id' => '1',
			'title' => 'Irrigation and Agriculture Sector-focused Programmes Get Priority',
			'sub_title' => '',
			'summary' => 'The government has prioritised the agriculture sector development by announcing a slew of programmes in the Federal Budget for FY2020/21.',
			'content' => '<h2><span style="font-size:18pt"><span style="font-family:&quot;Times New Roman&quot;,serif"><span style="font-size:16.0pt"><span style="font-family:&quot;Arial&quot;,sans-serif">The government has prioritised the agriculture sector development by announcing a slew of programmes in the Federal Budget for FY2020/21. Presenting the budget in the House of Representatives, Dr Yuba Raj Khatiwada said that Rs 41 billion has been allocated for promoting agricultural products and Rs 27 billion for irrigation infrastructure development. </span></span></span></span></h2>

<h2><span style="font-size:18pt"><span style="font-family:&quot;Times New Roman&quot;,serif"><span style="font-size:16.0pt"><span style="font-family:&quot;Arial&quot;,sans-serif">The programmes announced for agriculture sector development include facilitation of contract and land pooling, establishment of 78 wholesale markets for agriculture produce across covering all seven provinces, cash subsidy to farmers for improvised seed production, installation of weather radars, formation of land banks at 300 locations across the country, international promotion and branding of Nepali coffee, major herbs and other cash crops, launching of farmers credit card, setting up of standard food testing lab one each in Gandaki and Karnali provinces and setting up of well-facilitated animal quarantine labs at all major border customs across the country. Similarly, Rs 11 billion has been allocated in the budget for supply and distribution of chemical fertilisers, while Rs 950 million has been allocated for promotion of sugarcane cultivation. Likewise, Rs 3.22 billion has been allocated to run &lsquo;One Local Level, One Pocket Product&rsquo; programme. </span></span></span></span></h2>

<h2><span style="font-size:18pt"><span style="font-family:&quot;Times New Roman&quot;,serif"><span style="font-size:16.0pt"><span style="font-family:&quot;Arial&quot;,sans-serif">Meanwhile, the government has announced to promote shallow water irrigation system with a view to expand irrigation to additional 22,000 hectares of land across the country. Finance Minister Dr Khatiwada also said that the construction of the proposed Mahakali Irrigation Project will move ahead as a national pride project. </span></span></span></span></h2>

<p>&nbsp;</p>
',
			'published' => true,
			'created' => '2020-05-28',
			'modified' => '2020-05-28',
			'keywords' => '',
			'description' => '',
			'sortorder' => '11838',
			'image' => '20200528075055_irrigation.jpg',
			'article_date' => '2020-05-28 19:47:42',
			'homepage' => false,
			'breaking_news' => false,
			'main_news' => true,
			'in_scroller' => null,
			'user_id' => '31'
		)
	)
)
$current_user = null
$logged_in = false
simplexml_load_file - [internal], line ??
include - APP/View/Elements/side_bar.ctp, line 60
View::_evaluate() - CORE/Cake/View/View.php, line 971
View::_render() - CORE/Cake/View/View.php, line 933
View::_renderElement() - CORE/Cake/View/View.php, line 1224
View::element() - CORE/Cake/View/View.php, line 418
include - APP/View/Articles/index.ctp, line 157
View::_evaluate() - CORE/Cake/View/View.php, line 971
View::_render() - CORE/Cake/View/View.php, line 933
View::render() - CORE/Cake/View/View.php, line 473
Controller::render() - CORE/Cake/Controller/Controller.php, line 968
Dispatcher::_invoke() - CORE/Cake/Routing/Dispatcher.php, line 200
Dispatcher::dispatch() - CORE/Cake/Routing/Dispatcher.php, line 167
[main] - APP/webroot/index.php, line 117

file not found!

Notice (8): Undefined variable: file [APP/View/Elements/side_bar.ctp, line 133]Code Context  //  $file = 'http://aabhiyan:QUVLg8Wzs2F7G9N7@nepalstock.com.np/api/subindexdata.xml';



    if(!$xml = simplexml_load_file($file)){
$viewFile = '/var/www/html/newbusinessage.com/app/View/Elements/side_bar.ctp'
$dataForView = array(
	'articles' => array(
		(int) 0 => array(
			'Article' => array(
				[maximum depth reached]
			)
		),
		(int) 1 => array(
			'Article' => array(
				[maximum depth reached]
			)
		),
		(int) 2 => array(
			'Article' => array(
				[maximum depth reached]
			)
		),
		(int) 3 => array(
			'Article' => array(
				[maximum depth reached]
			)
		),
		(int) 4 => array(
			'Article' => array(
				[maximum depth reached]
			)
		),
		(int) 5 => array(
			'Article' => array(
				[maximum depth reached]
			)
		),
		(int) 6 => array(
			'Article' => array(
				[maximum depth reached]
			)
		),
		(int) 7 => array(
			'Article' => array(
				[maximum depth reached]
			)
		),
		(int) 8 => array(
			'Article' => array(
				[maximum depth reached]
			)
		),
		(int) 9 => array(
			'Article' => array(
				[maximum depth reached]
			)
		),
		(int) 10 => array(
			'Article' => array(
				[maximum depth reached]
			)
		),
		(int) 11 => array(
			'Article' => array(
				[maximum depth reached]
			)
		),
		(int) 12 => array(
			'Article' => array(
				[maximum depth reached]
			)
		),
		(int) 13 => array(
			'Article' => array(
				[maximum depth reached]
			)
		),
		(int) 14 => array(
			'Article' => array(
				[maximum depth reached]
			)
		)
	),
	'current_user' => null,
	'logged_in' => false
)
$articles = array(
	(int) 0 => array(
		'Article' => array(
			'id' => '12104',
			'article_category_id' => '1',
			'title' => 'Nepal Signs USD 250 million Loan Agreement with ADB ',
			'sub_title' => '',
			'summary' => 'Nepal has signed a USD 250 million (Rs 30 billion aprox.) loan agreement with the Asian Development Bank (ADB) to fight coronavirus. ',
			'content' => '<p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif"><span style="font-size:15.0pt"><span style="font-family:&quot;Cambria&quot;,serif">Nepal has signed a USD 250 million (Rs 30 billion aprox.) loan agreement with the Asian Development Bank (ADB) to fight coronavirus. Finance Secretary Sishir Kumar Dhungana, and Mukhtor Khamudkhanov, ADB Country Director for Nepal signed agreement papers amid a function organised at the Ministry of Finance (ADB) on June 1. Finance Minister Dr Yuba Raj Khatiwada and other high officials of the government and ADB were present during the function. As per the agreement, the Manila-based lender will lend the money to Nepal under its COVID-19 Active Response and Expenditure Support (CARES) Programme. </span></span></span></span></p>

<p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif"><span style="font-size:15.0pt"><span style="font-family:&quot;Cambria&quot;,serif">ADB will provide the concessional loan as a budgetary support to help the government to strengthen the country&rsquo;s public health infrastructure. The loan will be utilised in scaling up testing, tracing and tracking of Covid-19 cases, establishing isolation facilities across the country and strengthening existing hospitals and health centres in terms of equipment, medicine and workforce. Similarly, ADB will also support Nepal &nbsp;to mitigate the adverse economic and social impacts of the Covid-19 pandemic through its CARES Programme.</span></span><br />
<span style="font-size:15.0pt"><span style="font-family:&quot;Cambria&quot;,serif">Speaking on the occasion Finance Secretary Dhungana said, &ldquo;This loan will be mobilized through the National Relief Programme of the government which targets to enhance public health system, provide social security and generate employment to face the challenges presented by the Covid-19 pandemic.&rdquo; ADB country director for Nepal Khamudkhanov reiterated the bank&rsquo;s commitment to support Nepal during difficult times.&nbsp;&nbsp;</span></span></span></span></p>
',
			'published' => true,
			'created' => '2020-06-02',
			'modified' => '2020-06-02',
			'keywords' => '',
			'description' => '',
			'sortorder' => '11852',
			'image' => '20200602102341_Nepal-ADB.jpg',
			'article_date' => '2020-06-02 10:21:40',
			'homepage' => false,
			'breaking_news' => false,
			'main_news' => true,
			'in_scroller' => null,
			'user_id' => '31'
		)
	),
	(int) 1 => array(
		'Article' => array(
			'id' => '12103',
			'article_category_id' => '1',
			'title' => 'Global IME Bank Supports Photojournalists  ',
			'sub_title' => '',
			'summary' => 'As a part of its corporate social responsibility (CSR), Global IME Bank Limited has provided press jackets to photojournalists working in different districts. ',
			'content' => '<p><span style="font-size:12pt"><span style="font-family:&quot;Times New Roman&quot;,serif"><span style="font-size:15.0pt"><span style="font-family:&quot;Cambria&quot;,serif">As a part of its corporate social responsibility (CSR), Global IME Bank Limited has provided press jackets to photojournalists working in different districts. The bank&rsquo;s Deputy General Manager Surendra Raj Regmi handed over the jackets to Dhruv Ale, president of Federation of Nepalese Photojournalist (FNPJ) amid a programme organised at Global IME&rsquo;s head office in Kamaladi on May 31. </span></span></span></span></p>

<p><span style="font-size:12pt"><span style="font-family:&quot;Times New Roman&quot;,serif"><span style="font-size:15.0pt"><span style="font-family:&quot;Cambria&quot;,serif">&ldquo;We expect that the press jackets will make the works of photojournalists easier in the current difficult situation,&rdquo; a statement issued by the bank quoted Regmi as saying. NFPJ President Ale thanked Global IME Bank for its support and said that the jackets would make safer for photojournalists to discharge their professional duties. </span></span></span></span></p>
',
			'published' => true,
			'created' => '2020-06-01',
			'modified' => '2020-06-01',
			'keywords' => '',
			'description' => '',
			'sortorder' => '11851',
			'image' => '20200601053453_Global IME.jpg',
			'article_date' => '2020-06-01 17:33:45',
			'homepage' => false,
			'breaking_news' => false,
			'main_news' => false,
			'in_scroller' => null,
			'user_id' => '31'
		)
	),
	(int) 2 => array(
		'Article' => array(
			'id' => '12102',
			'article_category_id' => '1',
			'title' => 'New Tax Plans for Electric Vehicles Sparks Criticism',
			'sub_title' => '',
			'summary' => 'Since the announcement of tax hike  on import of electric vehicles in the Federal Budget for FY2020/21 on may 28, the government has been facing scrutiny from various quarters of the society for the environment un-friendly move with critics saying the hike in taxes has pronounced a death knell for the electric four-wheelers that have grown in popularity over the past two years. ',
			'content' => '<p><span style="font-size:12pt"><span style="font-family:&quot;Times New Roman&quot;,serif"><span style="font-size:15.0pt"><span style="font-family:&quot;Cambria&quot;,serif">Since the announcement of tax hike&nbsp; on import of electric vehicles in the Federal Budget for FY2020/21 on May 28, the government has been facing scrutiny from various quarters of the society for the environment un-friendly move with critics saying the hike in taxes has pronounced a death knell for the electric four-wheelers that have grown in popularity over the past two years. In his budget speech, Finance Minister Dr Yuba Raj Khatiwada announced that electric vehicles will be levied 30-80 percent customs duty and 5-80 percent excise duty, depending upon the capacity of the four-wheelers. As per earlier arrangements, importers were required to pay 10 percent in customs duty and 13 percent in value added tax (VAT). </span></span></span></span></p>

<p><span style="font-size:12pt"><span style="font-family:&quot;Times New Roman&quot;,serif"><span style="font-size:15.0pt"><span style="font-family:&quot;Cambria&quot;,serif">Nepal Automobile Dealers Association (NADA) is the latest organisation to raise its voice against the massive increment of the tax rates. Issuing a press statement, the association said that the tax hike will make electric vehicles as costlier as internal combustion engine vehicles and hence will be less attractive to car buyers. &ldquo;The </span></span><span style="font-size:15.0pt"><span style="font-family:&quot;Cambria&quot;,serif">proposed tax will make the electric vehicles more expensive for the general people. It will ultimately hinder the government&rsquo;s policy to promote eco-friendly transport,&rdquo; reads the statement. Similarly, NADA also urged the government to ease the lockdown so that people can return to their business and work. &ldquo;Economic activities have been severely affected to the protracted closure. Now business activities need to be resumed by following health safety standards,&rdquo; NADA said. </span></span></span></span></p>

<p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif"><span style="font-size:15.0pt"><span style="font-family:&quot;Cambria&quot;,serif">In the meantime, three organisations have also asked the government to scrap the taxes imposed on import of electric vehicles. In a joint statement, Electric Vehicle Association of Nepal (EVAN), Nepal Forum of Environmental Journalists (NFEEJ) and Clean Energy Nepal (CEN) said that the new budgetary arrangements will discourage electric vehicles and promote fossil fuel run vehicles. </span></span></span></span></p>

<p>&nbsp;</p>
',
			'published' => true,
			'created' => '2020-06-01',
			'modified' => '2020-06-01',
			'keywords' => '',
			'description' => '',
			'sortorder' => '11850',
			'image' => '20200601050236_electric car.jpg',
			'article_date' => '2020-06-01 16:52:31',
			'homepage' => false,
			'breaking_news' => false,
			'main_news' => true,
			'in_scroller' => null,
			'user_id' => '31'
		)
	),
	(int) 3 => array(
		'Article' => array(
			'id' => '12101',
			'article_category_id' => '1',
			'title' => 'Sharp Contraction in Commercial Banks' Lending, New Loan Extension Falls to Zero',
			'sub_title' => '',
			'summary' => 'With the dwindling of credit demand due the lockdown imposed by the government, private sector lending of commercial banks has sharply contracted in the last month. ',
			'content' => '<h2><span style="font-size:18pt"><span style="font-family:&quot;Times New Roman&quot;,serif"><span style="font-size:16.0pt"><span style="font-family:&quot;Cambria&quot;,serif">With the dwindling of credit demand due the lockdown imposed by the government, private sector lending of commercial banks has sharply contracted in the last month. According to data provided by the Nepal Bankers&rsquo; Association (NBA), commercial banks registered Rs 16 billion of negative credit of their total loan extension in April-May (Baisakh) compared to March-April (Chaitra). &nbsp;The banks in March-April extended a total of Rs 42 billion in loans. The total loan extension of 27 commercial banks reached Rs 2,845 billion by March-April which declined by Rs 16 billion to Rs 2,829 billion in April-May. The total credit of banks become negative because of collection of old loans but zero extension of new loans. &nbsp;</span></span></span></span></h2>

<h2><span style="font-size:18pt"><span style="font-family:&quot;Times New Roman&quot;,serif"><span style="font-size:16.0pt"><span style="font-family:&quot;Cambria&quot;,serif">However, collection of deposits has remained satisfactory despite a dip in April-May. In March-April, commercial banks collected a total of Rs 49 billion in deposits which declined to Rs 30 billion in April-May. The total deposit collection of banks reached to Rs 3,219 billion in April-May from Rs 3,189 billion in March-April. &nbsp;</span></span></span></span></h2>

<h2><span style="font-size:18pt"><span style="font-family:&quot;Times New Roman&quot;,serif"><span style="font-size:16.0pt"><span style="font-family:&quot;Cambria&quot;,serif">Bhuvan Kumar Dahal, president of NBA said that halt in commercial and other transactions has negatively impacted the banking sector. &ldquo;With no end in sight of the lockdown, industries and businesses have remained shut down. As a result, bank transactions have decreased sharply,&rdquo; he mentioned. </span></span></span></span></h2>

<h2><span style="font-size:18pt"><span style="font-family:&quot;Times New Roman&quot;,serif"><span style="font-size:16.0pt"><span style="font-family:&quot;Cambria&quot;,serif">Bankers are having a hard time as the current situation does not allows for extension of new loans due to which interest rate income of banks is also following a declining trend. According to Dahal, the credit-to-core capital-deposit (CCD) ratio of commercial banks has decreased to 76 percent because of halt in extension of new loans. However, renewal of deposits is ongoing in banks. &ldquo;The banking system therefore has adequate investment-grade liquidity at present which is being invested in government bonds such as treasury bills,&rdquo; informed Dahal. </span></span></span></span></h2>
',
			'published' => true,
			'created' => '2020-06-01',
			'modified' => '2020-06-01',
			'keywords' => '',
			'description' => '',
			'sortorder' => '11849',
			'image' => '20200601032952_bank lending.jpg',
			'article_date' => '2020-06-01 15:27:47',
			'homepage' => false,
			'breaking_news' => false,
			'main_news' => true,
			'in_scroller' => null,
			'user_id' => '31'
		)
	),
	(int) 4 => array(
		'Article' => array(
			'id' => '12100',
			'article_category_id' => '1',
			'title' => 'Disquiet of Business Community Grows with Extension of Lockdown ',
			'sub_title' => '',
			'summary' => 'The country’s private sector has raised its voices against the 8th extension of the lockdown till June 14. ',
			'content' => '<p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif"><span style="font-size:16.0pt"><span style="font-family:&quot;Cambria&quot;,serif">The country&rsquo;s private sector has raised its voices against the 8<sup>th</sup> extension of the lockdown till June 14. A meeting of council of ministers held on May 30 decided to further extend the lockdown amid the rising number of Covid-19 infection cases and deaths. Critics say that instead of curbing the spread of coronavirus, the lockdown, which is in place since March 24, has crippled economic activities sending the country&rsquo;s economy into a deep recession unlike anything Nepal has experienced in the past. Major private sector bodies, that have avoided criticizing the government in terms of its handling of the situation, have now started criticizing the government for its indifference to their demands and ignoring warnings of economic fallout of the protracted lockdown. Expressing their displeasure, they have said that extension of the lockdown, without any change in the modality, will be disastrous for the already severely weakened economy. </span></span></span></span></p>

<p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif"><span style="font-size:16.0pt"><span style="font-family:&quot;Cambria&quot;,serif">Issuing a press statement on May 31, the Federation of Nepalese Chambers of Commerce and Industry (FNCCI) urged the government to rethink the duration and modality of the lockdown while considering the sensitiveness of public health. &ldquo;We urge the government to devise the modality of the lockdown so that the economic activities can be restarted,&rdquo; reads the statement. </span></span></span></span></p>

<p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif"><span style="font-size:16.0pt"><span style="font-family:&quot;Cambria&quot;,serif">Earlier, the government permitted to operate 42 types of industries during the lockdown period. However, the strict restrictions in transportation and movement of people and market access have hindered industrialists to operate their industries in full capacity. According to them, the lack of coordination between authorities and all three levels of the government has added to their problems to restart industrial activities. Industrialist complain that government is not showing any seriousness despite the worsening situation which will ultimately lead to the collapse of the industrial sector. They say that the government now needs to contemplate international practices in easing lockdown by further strengthening the health sector expanding the scope of Covid-19 testing, tracing tracking and by introducing effective social distancing measures to reduce the risk of spread of coronavirus. </span></span></span></span></p>

<p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif"><span style="font-size:16.0pt"><span style="font-family:&quot;Cambria&quot;,serif">FNCCI has said that it is concerning that the 8<sup>th</sup> extension of the lockdown was announced without taking suggestions from stakeholders at a time when the economic loss from the lockdown has amounted to 4 percent of the country&rsquo;s GDP, business activities have collapsed, and millions of people have lost their jobs. &nbsp;&ldquo;The government needs to engage in dialogue with stakeholders directly associated with the country&rsquo;s economy to extend restrictive measures,&rdquo; FNCCI has demanded.</span></span></span></span></p>

<p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif"><span style="font-size:16.0pt"><span style="font-family:&quot;Cambria&quot;,serif">Shekhar Golchha, senior vice president of FNCCI said that the lockdown should be eased for the industrial sector under any circumstances. &ldquo;We don&rsquo;t know why the government is ignoring the economic fallout. But one thing has become clear that only lockdown cannot save people from coronavirus,&rdquo; he opined, adding, &ldquo;It is true that our open border with India has increased risks of the contagion of the virus. However, there are no alternatives than to gradually ease the lockdown by maintaining effective health security.&rdquo; Golchha warned that number of Covid-19 cases and deaths could increase in the coming days and that all should be prepared to face the challenges. </span></span></span></span></p>

<p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif"><span style="font-size:16.0pt"><span style="font-family:&quot;Cambria&quot;,serif">According to him, the private sector has shouldered the burden of the country&rsquo;s economic recovery. &ldquo;We have provided employment to millions of Nepalis. The share of the private sector in government revenue stands at 70 percent. Therefore, an immense pressure has been created for the private sector in terms of revival of the pandemic-ravaged economy,&rdquo; noted Golchha, adding, &ldquo;Nevertheless, if the lockdown is extended without proper exit plans, the country&rsquo;s economy will reach of point where recovery will not be possible.&rdquo;</span></span></span></span></p>

<p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif"><span style="font-size:16.0pt"><span style="font-family:&quot;Cambria&quot;,serif">Satish Kumar Moore, president of Confederation of Nepalese Industries (CNI) also said that lockdown needs to be eased by implementing effective health security measures. According to him, the economic slump will further deepen if the government does not show seriousness to restart business activities. &ldquo;It will be appropriate to continue lockdown in areas highly affected by coronavirus while easing economic activities in less affected areas,&rdquo; he said. </span></span></span></span></p>

<p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif"><span style="font-size:16.0pt"><span style="font-family:&quot;Cambria&quot;,serif">Pashupati Murarka, former president of FNCCI said that the government now needs to shift its focus from stopping the spread of coronavirus to saving the country&rsquo;s economy from collapse. &ldquo;Supply chains have been badly affected by the lockdown. Some industries that have restarted their operations are unable to supply their products to the market. The ongoing lockdown has hindered cement industries to transport raw materials from mines to their factories,&rdquo; he said. &nbsp;According to him, the government needs to announce policies to ease the problems for the industrial sector. &ldquo;There are no alternatives for us than to learn to live and carry on our activities facing the challenges posed by the coronavirus,&rdquo; he expressed. </span></span></span></span></p>

<p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif"><span style="font-size:16.0pt"><span style="font-family:&quot;Cambria&quot;,serif">Rajesh Kaji Shrestha, president of Nepal Chamber of Commerce (NCC) said that the government has ignored the concerns and problems of the business community. &ldquo;It seems the government thinks that its one and only responsibility is to give continuation to lockdown and it does not have to pay attention the plight of the business community. Now the government urgently needs to prioritise changing the modality of the lockdown so that business activities are restarted,&rdquo; he said. </span></span></span></span></p>
',
			'published' => true,
			'created' => '2020-06-01',
			'modified' => '2020-06-01',
			'keywords' => '',
			'description' => '',
			'sortorder' => '11848',
			'image' => '20200601121121_lockdown.jpg',
			'article_date' => '2020-06-01 12:07:19',
			'homepage' => false,
			'breaking_news' => false,
			'main_news' => true,
			'in_scroller' => null,
			'user_id' => '31'
		)
	),
	(int) 5 => array(
		'Article' => array(
			'id' => '12099',
			'article_category_id' => '1',
			'title' => 'Xiaomi Launches Mi 10 and Mi Note 10 Lite in Nepal',
			'sub_title' => '',
			'summary' => 'Chinese smartphone brand Xiaomi has launched its two flagship handsets Mi 10 and Mi Note 10 Lite in the Nepali market. ',
			'content' => '<p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif"><span style="font-size:16.0pt"><span style="font-family:&quot;Cambria&quot;,serif">Chinese smartphone brand Xiaomi has launched its two flagship handsets Mi 10 and Mi Note 10 Lite in the Nepali market. Issuing a press statement, the company said that Mi 10 is the first smartphone to hit the Nepali market with a 108MP quad-camera setup and Qualcomm<sup> </sup>Snapdragon 865 processor for 5G connectivity. &nbsp;The phone comes with a 3D Curved AMOLED display, 4,780mAh battery, and 30W wireless charging. &ldquo;With 8GB RAM (LPDDR5) and 128GB or 256GB ROM (UFS 3.0), Mi 10 offers swift response and an ultra-smooth operating experience. Paired with the most sophisticated cooling system, Mi 10 uses LiquidCool 2.0 &ndash; an advanced cooling system consisting of a large vapor chamber, as well as multi-layer graphite and graphene stacks that dissipate heat to ensure sustained peak performance,&rdquo; reads the statement. </span></span></span></span></p>

<p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif"><span style="font-size:16.0pt"><span style="font-family:&quot;Cambria&quot;,serif">Xiaomi claimed that Mi 10 redefines smartphone photography and videography with its OIS-enabled 108MP quad rear camera setup and users can shoot ultra-clear shots along with details unseen to the naked eye with the 108MP primary sensor and experience the full view of their subjects with the 13MP ultra-wide angle lens, with 123&deg; FOV. The company informed that Mi 10 also supports UHD 8K video recording at 30fps.</span></span></span></span></p>

<p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif"><span style="font-size:16.0pt"><span style="font-family:&quot;Cambria&quot;,serif">Similarly, Mi Note 10 Lite offers a 6.47&rsquo;&rsquo; curved AMOLED display, a 4MP quad-camera setup, Qualcomm<sup> </sup>Snapdragon 730G SoC and a large-capacity 5,260mAh battery, according to the statement. </span></span></span></span></p>

<p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif"><span style="font-size:16.0pt"><span style="font-family:&quot;Cambria&quot;,serif">&ldquo;Sporting a first class 6.47&rsquo;&rsquo; 3D curved AMOLED display and a 3D curved glass back, Mi Note 10 Lite provides a premium in-hand feel,&rdquo; said the company. According to Xiaomi, with smoothly curved and tapered edges on four sides, Mi Note 10 Lite brings about an outstanding 91.4 percent screen-to-body ratio that will surely amaze with its immersive viewing experience.</span></span></span></span></p>

<p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif"><span style="font-size:16.0pt"><span style="font-family:&quot;Cambria&quot;,serif">&nbsp;&ldquo;With Mi 10, we aim to redefine the premium smartphone experience for consumers in Nepal. This device is a pinnacle of smartphone design and engineering, pushing the boundaries of what&#39;s possible on a handheld device. With its flagship OIS enabled 108MP Quad Camera setup, UHD 8K video recording, world&rsquo;s fastest 30W wireless charging, we hope our users can create content in a way never thought possible before, with Mi 10,&rdquo; the statement quoted Sourabh Kothari, Xiaomi&rsquo;s country general manager for Nepal, as saying. </span></span></span></span></p>

<p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif"><span style="font-size:16.0pt"><span style="font-family:&quot;Cambria&quot;,serif">As per the company, </span></span><span style="font-size:16.0pt"><span style="font-family:&quot;Cambria&quot;,serif">Mi 10 will be available in two colour variants - twilight grey and coral green at a price of Rs 89,999<strong>.</strong> Similarly, Mi Note 10 Lite will be available in 6GB + 128GB variant and three colour options - midnight black, glacier white and nebula purple at Rs 44,999. &ldquo;Both phones will be available for purchase across offline stores, retail partners and online partners Daraz and Sastodeal very soon,&rdquo; informed the company. </span></span></span></span></p>

<p>&nbsp;</p>

<p>&nbsp;</p>

<p>&nbsp;</p>
',
			'published' => true,
			'created' => '2020-05-31',
			'modified' => '2020-05-31',
			'keywords' => '',
			'description' => '',
			'sortorder' => '11847',
			'image' => '20200531054346_MI NOTE 10.jpg',
			'article_date' => '2020-05-31 17:41:39',
			'homepage' => false,
			'breaking_news' => false,
			'main_news' => false,
			'in_scroller' => null,
			'user_id' => '31'
		)
	),
	(int) 6 => array(
		'Article' => array(
			'id' => '12096',
			'article_category_id' => '1',
			'title' => ' Rs 1 billion in Fines Waived for Nepali Importers at Kolkata Port',
			'sub_title' => '',
			'summary' => 'Nepali importers have received waivers of about Rs 1 billion in detention and ground rent at the Kolkata Port for the lockdown period.',
			'content' => '<h1><span style="font-size:24pt"><span style="font-family:&quot;Times New Roman&quot;,serif"><span style="font-size:16.0pt"><span style="font-family:&quot;Cambria&quot;,serif">Nepali importers have received waivers of about Rs 1 billion in detention and ground rent at the Kolkata Port for the lockdown period. Vineet Kumar, chairman of Kolkata Port Trust informed that fines for Nepali importers were waived because of their inability to transport the containers shipped from third countries due to the ongoing lockdown in India which is in place since March 22. According to him, Nepali importers have received Rs 930 million (INR 580 million) in waivers in detention and ground rent at the port. </span></span></span></span></h1>

<h1><span style="font-size:24pt"><span style="font-family:&quot;Times New Roman&quot;,serif"><span style="font-size:16.0pt"><span style="font-family:&quot;Cambria&quot;,serif">Of the total amount, Rs 880 million has been waived in detention charges to shipping companies and Rs 50 million in ground rent to the port authority. Earlier, the government of India had directed port authorities of the country not to fine importers and levy them additional charges for the period of March 22 to May 3. However, importers won&rsquo;t be receiving such waivers after March 22 even the lockdown has been extended till May 31. The Indian government has relaxed the ongoing lockdown from May 3 by easing transport and movement of people. </span></span></span></span></h1>

<h1><span style="font-size:24pt"><span style="font-family:&quot;Times New Roman&quot;,serif"><span style="font-size:16.0pt"><span style="font-family:&quot;Cambria&quot;,serif">Nepali importers enjoy free time of 15 days for Nepal bound road containers and 20 days for rail containers at the Kolkata Port. They are required to pay ground rent if they do not clear their shipments from the port after the end of the free time. &nbsp;The port authority has said that the free time will be calculated before March 22 and after May 3. Similarly, shipping companies provide free time of 14-21 days. Nepali importers who get five days to return the containers after the shipments are made to the Birgunj Dry Port; they are required to pay detention charges if they do not return the containers within the stipulated time. &nbsp;According to the Kolkata Port authority officials, some shipping companies have waived detention charges on the basis of mutual understanding with Nepali importers even after May 3. &nbsp;Over 4,000 Nepal bound containers were stuck at the port after the sudden halt in transportation and movement of people due to the lockdown imposed by the government to curb the spread of coronavirus. The containers were transported to nearby freight station (CFS) after the space at the port got constrained due to increased numbers of shipments. Kolkata Port Authority Chairman Kumar informed that the CFS operator has been directed to provide Nepali importers an additional 15 days of free time to transport the containers. </span></span></span></span></h1>
',
			'published' => true,
			'created' => '2020-05-31',
			'modified' => '2020-05-31',
			'keywords' => '',
			'description' => '',
			'sortorder' => '11846',
			'image' => '20200531053058_kolkata port.jpg',
			'article_date' => '2020-05-31 17:25:03',
			'homepage' => false,
			'breaking_news' => false,
			'main_news' => true,
			'in_scroller' => false,
			'user_id' => '31'
		)
	),
	(int) 7 => array(
		'Article' => array(
			'id' => '12095',
			'article_category_id' => '1',
			'title' => 'Over 1,000 DEMAT Accounts Opened during Lockdown ',
			'sub_title' => '',
			'summary' => 'While the stock market has remained closed for the last 69 days due to the lockdown, the number of people opening DEMAT account for share transactions has increased significantly. ',
			'content' => '<p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif"><span style="font-size:16.0pt"><span style="font-family:&quot;Cambria&quot;,serif">While the stock market has remained closed for the last 69 days due to the lockdown, the number of people opening DEMAT account for share transactions has increased significantly. According to the CDS and Clearing (CDSC) Limited, 1,062 DEMAT accounts have been opened over the last two months. Suresh Neupane, spokesperson at CDSC said that shareholders have opened accounts to secure their shares at a time when uncertainty has prevailed in financial market. &nbsp;According to him, the increase in the number of DEMAT accounts is also attributed to the continuation of services of merchant banks and depository participant (DP) offices. The number of DEMAT accounts has reached 1.66 million after the account was made mandatory four years ago when ASBA system was introduced for share transaction. Stock investors are required to mention their DEMAT accounts while applying for initial public offerings (IPOs) and doing share transactions in the secondary market. </span></span></span></span></p>

<p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif"><span style="font-size:16.0pt"><span style="font-family:&quot;Cambria&quot;,serif">As the capital market agencies are putting their efforts for the full digitization of share transactions from the next fiscal year, the increase number of DEMAT accounts show the attraction of stock investors in digital transaction. Damaru Ballav Ghimire, a stock investor, said that troubles related to archiving of paper share certificate has ended with the commencement of DEMAT account transaction. According to him, he has updated his all 350 share certificates in the account. &ldquo;Now investors don&rsquo;t have to get into queue anymore to archive their certificates and they don&rsquo;t have to worry about losing the paper certificates,&rdquo; he said. Ghimire said that many stock investors are yet to deposit their shares into their DEMAT accounts due to which they are not able to receive dividends on time. According to CDSC, 5.24 billion units of shares have been deposited into DEMAT accounts. </span></span></span></span></p>
',
			'published' => true,
			'created' => '2020-05-31',
			'modified' => '2020-05-31',
			'keywords' => '',
			'description' => '',
			'sortorder' => '11845',
			'image' => '20200531051929_demat.jpg',
			'article_date' => '2020-05-31 17:17:06',
			'homepage' => false,
			'breaking_news' => false,
			'main_news' => true,
			'in_scroller' => null,
			'user_id' => '31'
		)
	),
	(int) 8 => array(
		'Article' => array(
			'id' => '12094',
			'article_category_id' => '1',
			'title' => 'HAN Revise Charges for Covid-19 Quarantine at Hotels',
			'sub_title' => '',
			'summary' => 'Hotel Association Nepal (HAN) has lowered the charges for providing Covid-19 quarantine facilities at hotels. ',
			'content' => '<p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif"><span style="font-size:16.0pt"><span style="font-family:&quot;Cambria&quot;,serif">Hotel Association Nepal (HAN) has lowered the charges for providing Covid-19 quarantine facilities at hotels. The hotel industry body, which had earlier set charges ranging from Rs 3,000 to Rs 16,000 per person to keep foreign returnees has now reduced the charge to Rs 3,000 per person for one-star and tourist-level hotels. &nbsp;According to Sajan Shakya, general secretary at HAN, two individuals sharing a same room at tourist-level hotels have to pay Rs 4,000 per day as per the revised rate. </span></span></span></span></p>

<p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif"><span style="font-size:16.0pt"><span style="font-family:&quot;Cambria&quot;,serif">Earlier, the rate was Rs 5,000 for a person and Rs 6,000 for two. HAN has said that 20,000 hotel rooms across the country can be used as quarantine facilities. Among the 15 chapters of HAN, Kathmandu, Bhaktapur, Pokhara, Chitwan, Bhairahawa, Nepalgunj and Biratnagar chapters have already notified the industry body about the number of hotel rooms that can be used as isolation facilities. </span></span></span></span></p>

<p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif"><span style="font-size:16.0pt"><span style="font-family:&quot;Cambria&quot;,serif">According to Shakya, 3,100 hotel rooms in Kathmandu, 4,000 each in Pokhara, Chitwan and Bhairahawa, 2,500 in Nepalgunj and the remaining 2,400 rooms in Bhaktapur and Biratnagar can be used for accommodation of foreign returnees. As per arrangements announced by HAN, individuals using rooms of five-star hotels and deluxe resorts will be charged Rs 16,000 per person while it is Rs 10,000 for two individuals sharing a same room. &nbsp;Similarly, the rates for using a four-star hotel room have been set at Rs 14,000 and Rs 8,000. The isolation stay at three-star and two-star hotels has been set at Rs 10,000 for an individual and Rs 6,000 for two people sharing a same room. HAN has informed that hotels will provide meals four times a day, communications and other basic services to those coming for isolation. </span></span></span></span></p>

<p>&nbsp;</p>
',
			'published' => true,
			'created' => '2020-05-31',
			'modified' => '2020-05-31',
			'keywords' => '',
			'description' => '',
			'sortorder' => '11844',
			'image' => '20200531051443_room.jpg',
			'article_date' => '2020-05-31 17:11:55',
			'homepage' => false,
			'breaking_news' => false,
			'main_news' => true,
			'in_scroller' => null,
			'user_id' => '31'
		)
	),
	(int) 9 => array(
		'Article' => array(
			'id' => '12093',
			'article_category_id' => '1',
			'title' => 'Sunrise Bank and Eazy Care Join Hands ',
			'sub_title' => '',
			'summary' => 'Sunrise Bank Limited has signed an agreement with the online medical site Eazy Care to provide healthcare to its customers. ',
			'content' => '<p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif"><span style="font-size:15.0pt"><span style="font-family:&quot;Cambria&quot;,serif">Sunrise Bank Limited has signed an agreement with the online medical site Eazy Care to provide healthcare to its customers. Issuing a press statement, the bank said that its customers can get upto 22 percent in discount while availing services from Eazy Care during the lockdown.</span></span></span></span></p>

<p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif"><span style="font-size:15.0pt"><span style="font-family:&quot;Cambria&quot;,serif">As per the agreement, the bank&rsquo;s customers can get 12 percent discount and further 10 percent or upto Rs 500 in cashback by making payments to Eazy Care using QR scanner, debit and credit cards on purchase of medicine. </span></span></span></span></p>

<p>&nbsp;</p>
',
			'published' => true,
			'created' => '2020-05-30',
			'modified' => '2020-05-30',
			'keywords' => '',
			'description' => '',
			'sortorder' => '11843',
			'image' => '20200530044555_sunrise.jpg',
			'article_date' => '2020-05-30 16:43:56',
			'homepage' => false,
			'breaking_news' => false,
			'main_news' => false,
			'in_scroller' => null,
			'user_id' => '31'
		)
	),
	(int) 10 => array(
		'Article' => array(
			'id' => '12092',
			'article_category_id' => '1',
			'title' => 'Budget Provides an Additional Rs 60 billion Relief to Private Sector: FinMin ',
			'sub_title' => '',
			'summary' => 'Finance Minister Dr Yuba Raj Khatiwada has said that the budget has offered an additional Rs 60 billion in relief to businesses.',
			'content' => '<h2><span style="font-size:13pt"><span style="font-family:&quot;Calibri Light&quot;,sans-serif"><span style="font-size:15.0pt"><span style="font-family:&quot;Cambria&quot;,serif">Finance Minister Dr Yuba Raj Khatiwada has said that the budget has offered an additional Rs 60 billion in relief to businesses. &quot;The relief will be provided in the forms of cash, subsidy, tax and fine discounts and concessional loans and the cumulative amount would reach Rs.60 billion,&quot; he said in a post-budget interaction with financial journalists organised at the Ministry of Finance on May 29.</span></span></span></span></h2>

<h2><span style="font-size:13pt"><span style="font-family:&quot;Calibri Light&quot;,sans-serif"><span style="font-size:15.0pt"><span style="font-family:&quot;Cambria&quot;,serif">According to Dr Khatiwada, the refinancing facility to the businesses amounts to Rs 20 billion and the government will mobilise Rs 14 billion to subsidise the interest of the business loans. The government in the Federal Budget for FY 2020/21 has announced to provide business loan at 5 percent. The rest of the interest, which is about 6-7 percent, will be paid to the banks and financial institutions by the government. The finance minister said that the tax concessions would provide a benefit of Rs 6.5 billion to the private sector.</span></span></span></span></h2>

<h2><span style="font-size:13pt"><span style="font-family:&quot;Calibri Light&quot;,sans-serif"><span style="font-size:15.0pt"><span style="font-family:&quot;Cambria&quot;,serif">&quot;The government will pay the social security contributions of the private sector workers for the lockdown period,&quot; Dr Khatiwada said. He said the budget was labour-centred and aims to create jobs, provide social security and relief to the workers. &quot;We aim to create about 500,000 additional employments in various sectors like business, industries, infrastructure and self-employment,&quot; he said. <em>(RSS)</em></span></span></span></span><br />
&nbsp;</h2>
',
			'published' => true,
			'created' => '2020-05-30',
			'modified' => '2020-05-30',
			'keywords' => '',
			'description' => '',
			'sortorder' => '11842',
			'image' => '20200530042434_post-budget interaction.jpg',
			'article_date' => '2020-05-30 16:22:42',
			'homepage' => false,
			'breaking_news' => false,
			'main_news' => true,
			'in_scroller' => false,
			'user_id' => '31'
		)
	),
	(int) 11 => array(
		'Article' => array(
			'id' => '12091',
			'article_category_id' => '1',
			'title' => '‘Budget Traditional, Economic Growth Target Unrealistic’',
			'sub_title' => '',
			'summary' => 'The Federal Budget for FY2020/21 has drawn mixed reaction from former finance ministers, economists and private sector leaders. ',
			'content' => '<p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif"><span style="font-size:15.0pt"><span style="font-family:&quot;Cambria&quot;,serif">The Federal Budget for FY2020/21</span></span><span style="font-size:15.0pt"><span style="font-family:&quot;Cambria&quot;,serif"> has drawn mixed reaction from former finance ministers, economists and private sector leaders. In a post-budget virtual interaction programme organised by the Society of Economic Journalists &ndash; Nepal (SEJON) on May 29, they describe the budget for the upcoming fiscal year as &lsquo;traditional&rsquo; and ordinary which cannot fulfill the needs of the extraordinary times and take the country&rsquo;s economy out of the crisis. They also said that the economic growth target of 7 percent as unrealistic to achieve. According to them, the targets of economic growth, revenue collection, foreign assistance and public expenditure are ambitious. </span></span></span></span></p>

<p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif"><span style="font-size:15.0pt"><span style="font-family:&quot;Cambria&quot;,serif">Commenting on the budget, former Prime Minister and finance minister Dr Baburam Bhattarai said, &ldquo;The budget should have long term plans for socio-economic development. But this year&rsquo;s budget is nothing more than &lsquo;traditional&rsquo;. </span></span><span style="font-size:15.0pt"><span style="font-family:&quot;Cambria&quot;,serif">The pandemic presented a right time for the finance minister to turn challenges into opportunities. But his divided loyalties stopped him to do so. The budget has failed to give priority to economic sectors that need significant investment to revive.&rdquo; Dr Bhattarai said that the budget is directionless which is neither socialism-oriented nor market-oriented. According to him, government to take responsibility to ensure education and health to all citizens which won&rsquo;t be possible through a traditional budget. </span></span></span></span></p>

<p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif"><span style="font-size:15.0pt"><span style="font-family:&quot;Cambria&quot;,serif">&ldquo;Budget for the Prime Minster Employment Programme (PEMP) has been increased. But neither the targeted group will benefit nor the money from state coffer will be utilized if the earmarked budget is spent in activities such as cutting of grasses like in previous years,&rdquo; said Dr Bhattarai. He suggested the government to increase foreign borrowing to manage finances for economic recovery. &ldquo;Foreign debt accounts for 32 percent of Nepal&rsquo;s GDP. It can be increased to 60-65 percent. The government must not hesitate to take loans in these trying times,&rdquo; he added. He claimed that the budget won&rsquo;t be able generate employment as targeted due to the scattered allocations. </span></span></span></span></p>

<p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif"><span style="font-size:15.0pt"><span style="font-family:&quot;Cambria&quot;,serif">Former finance minister Dr Ram Sharan Mahat said that the budget for the upcoming fiscal year is filled with promises and promotional programmes. According to him, the assurances given for employment generation, agriculture and industrial sector development are very difficult to implement at the moment. Dr Mahat objected the internal debt target set by the government in the budget. &ldquo;In the past, the government use to take internal loans not more than 2-3 percent of GDP. But this time it has been set at 5 percent. If the government increases internal borrowings, it will reduce the liquidity in the financial market and will affect generation of jobs and expansion of industrial and business activities,&rdquo; he said. He criticised the government for not lowering corporate tax and increasing customs duty on import of electric vehicles even seeing possibility of excess of electricity in the country. </span></span></span></span></p>

<p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif"><span style="font-size:15.0pt"><span style="font-family:&quot;Cambria&quot;,serif">Another former finance minister Surendra Pandey, however, defended the budget saying that the government has announced arrangements by properly evaluating the country&rsquo;s economic situation and public health. &ldquo;Slashing of public expenditure and increase of budget in public health are positive steps. However, there are challenges to keep the hospitals operational,&rdquo; said Pandey. According to him, there can be difficulties for the government to sustain recurrent expenditures as the revenue target of Rs 900 billion set the upcoming fiscal is relatively low. Similarly, he viewed the 7 percent economic growth target for the upcoming fiscal year as challenging. </span></span></span></span></p>

<p><strong><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif"><span style="font-size:15.0pt"><span style="font-family:&quot;Arial&quot;,sans-serif">Targets Unachievable: Economists</span></span></span></span></strong></p>

<p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif"><span style="font-size:15.0pt"><span style="font-family:&quot;Arial&quot;,sans-serif">Speaking at the interrraction programme, economists said that many targets in the budget won&rsquo;t be unachieved. Dr Shankar Sharma, former vice chairman of National Planning Commission (NPC) said, &ldquo;</span></span><span style="font-size:15.0pt"><span style="font-family:&quot;Mangal&quot;,serif">The target to increase foreign assistance by 125 percent compared to the current fiscal year is impossible to achieve. Given our capacity, I think foreign assistance will be 40 percent less than aimed. On the other hand the 7 percent economic growth target is challenging because of protracted halt in industrial and business activities, and decline in remittance inflow which has already gone down by 20 percent and could further decrease by 50 percent in the coming months.&rdquo; </span></span></span></span></p>

<p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif"><span style="font-size:15.0pt"><span style="font-family:&quot;Mangal&quot;,serif">Prof Dr Govinda Nepal said that the size of the budget is appropriate to deal with the current situation. According to him, the budget was unveiled with a broader consensus and the government&rsquo;s priority to the health sector development and prevention and control of coronavirus is positive. &ldquo;However, the relief measures announced for various economic sectors are not sufficient. The government needs to form separate task force comprising of all stakeholders to review the measures,&rdquo; he mentioned. </span></span></span></span></p>

<p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif"><strong><span style="font-size:15.0pt"><span style="font-family:&quot;Cambria&quot;,serif">&nbsp;Not a stimulus package, scattered relief: Private Sector</span></span></strong></span></span></p>

<p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif"><span style="font-size:15.0pt"><span style="font-family:&quot;Cambria&quot;,serif">The country&rsquo;s private sector, which had demanded that the government to come up with stimulus package 5 percent of GDP, has expressed its displeasure over the measures announced in the Federal Budget for FY2020/21. Speaking at the programme, private sector leaders said that the measures announced by the government cannot be called stimulus package and that the scattered relief won&rsquo;t be helpful to revive economic activities. Shekhar Golchha, senior vice president of Federation of Nepalese Chamber of Commerce and Industries (FNCCI), commented , &ldquo;At a time when economic loss has reached 2-3 percent of the country&rsquo;s GDP and 1.5 million Nepalis have lost their jobs, the budget has indicated that the government has remained conservative rather than becoming liberal to take the economy out of the crisis.&rdquo; According to him, the private sector had demanded that the budget incorporate appropriate measures for liquidity management, bank interest rate, labour management and concession in demand charge of electricity. &ldquo;Among them, the budget has failed to address our demand of labour management which has become the most challenging issue for us at present,&rdquo; he said. &nbsp;Golchha mentioned that the government also did not addressed private sector&rsquo;s demand to ease labour management for those looking to close their industries, archiving of assets and VAT concession.</span></span></span></span></p>

<p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif"><span style="font-size:15.0pt"><span style="font-family:&quot;Cambria&quot;,serif">Kamalesh Agrawal, vice president of Nepal Chamber of Commerce (NCC) said that the government did not meet the expectations of business community as it was under political pressure. &ldquo;The stimulus package suggested by the private sector was not taken seriously. Refinancing and stimulus package differ in scope and features. We have demanded stimulus package worth 5 percent of the country&rsquo;s GDP, but the relief measures announced in the budget are just 1.5 percent of GDP,&rdquo; said Agrawal. According to him, the target to raise Rs 225 billion through internal borrowing will result in shortage of liquidity and affect bank interest rates. </span></span></span></span></p>

<p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif"><span style="font-size:15.0pt"><span style="font-family:&quot;Cambria&quot;,serif">Vishnu Agrawal, senior vice president of Confederation of Nepalese Industries (CNI) commented that the budget has failed to incorporate measures to increase the aggregate demand in the market. &ldquo;The scattered relief measures will not be much helpful in the economic recovery,&rdquo; he remarked. Agrawal said that the revenue target of the government is challenging as demand will remain low in the next fiscal year, hence impacting collection of VAT and income taxes. </span></span></span></span></p>

<p>&nbsp;</p>
',
			'published' => true,
			'created' => '2020-05-30',
			'modified' => '2020-05-30',
			'keywords' => '',
			'description' => '',
			'sortorder' => '11841',
			'image' => '20200530032905_photo post budget[6898].jpg',
			'article_date' => '2020-05-30 15:25:01',
			'homepage' => false,
			'breaking_news' => false,
			'main_news' => true,
			'in_scroller' => null,
			'user_id' => '31'
		)
	),
	(int) 12 => array(
		'Article' => array(
			'id' => '12090',
			'article_category_id' => '1',
			'title' => 'Arrangements in Budget Inadequate to Revive Economic Activities: Private Sector',
			'sub_title' => '',
			'summary' => 'The government has dashed the hopes of the country’s private sector that a comprehensive stimulus package will be announced in the Federal Budget for FY2020/21 to kick-start the economic recovery. ',
			'content' => '<h1><span style="font-size:24pt"><span style="font-family:&quot;Times New Roman&quot;,serif"><span style="font-size:15.0pt"><span style="font-family:&quot;Arial&quot;,sans-serif">The government has dashed the hopes of the country&rsquo;s private sector that a comprehensive stimulus package will be announced in the Federal Budget for FY2020/21 to kick-start the economic recovery. Industrialists and businesspersons say that the measures announced in the budget haven&#39;t&nbsp;offered&nbsp;substantial relief to the crisis-stricken private sector and that many of their demands have gone unaddressed. &nbsp;</span></span></span></span></h1>

<h1><span style="font-size:24pt"><span style="font-family:&quot;Times New Roman&quot;,serif"><span style="font-size:15.0pt"><span style="font-family:&quot;Arial&quot;,sans-serif">The government has announced establishment of two refinancing funds totaling Rs 150 billion. As per the arrangements, Nepal Rastra Bank will provide refinancing facility of Rs 100 billion. Separately, a Rs 50 billion refinancing fund will be established with money received from the government, state-owned enterprises. </span></span></span></span></h1>

<h1><span style="font-size:24pt"><span style="font-family:&quot;Times New Roman&quot;,serif"><span style="font-size:15.0pt"><span style="font-family:&quot;Arial&quot;,sans-serif">Both funds will provide concessional loans to businesses to restart their activities and pay salaries to their employees. According to the arrangements in the budget, businesses in agriculture, cottage industries, small and medium enterprises (SMEs), manufacturing industries, hotels and tourism sector enterprises can avail credit from the fund at 5 percent interest rate. </span></span></span></span></h1>

<h1><span style="font-size:24pt"><span style="font-family:&quot;Times New Roman&quot;,serif"><span style="font-size:15.0pt"><span style="font-family:&quot;Arial&quot;,sans-serif">&ldquo;These are only basic&nbsp;reliefs for the private sector. We had suggested the government to bring stimulus package worth 5 percent of the country&rsquo;s GDP. The measures announced in the budget are 4 percent of GDP,&rdquo; Said Bhawani Rana, president of Federation of Nepalese Chamber of Commerce and Industry (FNCCI). &nbsp;&ldquo;There are not many things in the budget to encourage the private sector. However, arrangement for refinancing, programmes to support MSMEs, reduction in demand charge of electricity, income tax concession for tourism sector are positive steps,&rdquo; she added. Rana said that it has become challenging for the crisis-stricken businesses to move ahead in the coming days due to lack of clarity in mobilization of capital and relief packages. </span></span></span></span></h1>

<h1><span style="font-size:24pt"><span style="font-family:&quot;Times New Roman&quot;,serif"><span style="font-size:15.0pt"><span style="font-family:&quot;Arial&quot;,sans-serif">Rajendra Malla, senior vice president of Nepal Chamber of Commerce (NCC) said that the budget is overall positive for the private sector. &ldquo;The increase of budget allocation for public health is very timely. However, the Ministry of Finance has not given its attention to the revenue target and whether or not the government can manage its expenses at present. The revenues sources have shrunken significantly at the moment,&rdquo; he opined. &nbsp;According to Malla, the government, which has prioritised agriculture sector development in the Federal Budget for FY2020/21, has not given preference to internal logistic and transportation due to which production of goods will remain costlier. </span></span></span></span></h1>

<h1><span style="font-size:24pt"><span style="font-family:&quot;Times New Roman&quot;,serif"><span style="font-size:15.0pt"><span style="font-family:&quot;Arial&quot;,sans-serif">Dhruva Thapa, president of Cement Manufacturers&rsquo; Association, Nepal (CMAN) said the the arrangements in the budget are &lsquo;traditional&rsquo; except for the health sector development. He stated continuation of consituency development fund and failure to bring budget on the basis of priority even at this time of crisis as dejected. &ldquo;There are concerns how all industrialists and business persons can avail the refinancing facilities. The success of the government&rsquo;s announcement depends on how the arrangements in the budget are implemented,&rdquo; he said. </span></span></span></span></h1>
',
			'published' => true,
			'created' => '2020-05-29',
			'modified' => '2020-05-29',
			'keywords' => '',
			'description' => '',
			'sortorder' => '11840',
			'image' => '20200529043520_recovery.jpg',
			'article_date' => '2020-05-29 16:33:43',
			'homepage' => false,
			'breaking_news' => false,
			'main_news' => true,
			'in_scroller' => false,
			'user_id' => '31'
		)
	),
	(int) 13 => array(
		'Article' => array(
			'id' => '12089',
			'article_category_id' => '1',
			'title' => 'Govt Aims to Create 800,000 Jobs',
			'sub_title' => '',
			'summary' => 'At a time when unemployment in Nepal has excerberated as a result of sharp increase in the number of Nepalis losing jobs inside and outside the country due to the Covid-19 pandemic, the government has announced new programmes in the Federal Budget for FY2020/21 to create 800,000 jobs. ',
			'content' => '<h1><span style="font-size:24pt"><span style="font-family:&quot;Times New Roman&quot;,serif"><span style="font-size:15.0pt"><span style="font-family:&quot;Arial&quot;,sans-serif">At a time when unemployment in Nepal has excerberated as a result of sharp increase in the number of Nepalis losing jobs inside and outside the country due to the Covid-19 pandemic, the government has announced new programmes in the Federal Budget for FY2020/21 to create 800,000 jobs. Presenting the budget in the House of Representatives, Finance Minister Dr Yuba Raj Khatiwada said that the creation of new jobs has been prioritised in the budget for the upcoming fiscal year estimating that one million Nepalis will lose their jobs within the country while 500,000 will become jobless abroad. Dr Khatiwada mentioned that the programmes in the new budget aim to provide employment opportunities to all Nepalis through dignified jobs, social security and ideal labour relations to increase the labour productivity in the country. </span></span></span></span></h1>

<h1><span style="font-size:24pt"><span style="font-family:&quot;Times New Roman&quot;,serif"><span style="font-size:15.0pt"><span style="font-family:&quot;Arial&quot;,sans-serif">It is estimated that 500,000 Nepalis enter job market every year. The government has predicted that out of 4.79 million people currently in foreign employment, the pandemic-induced crisis has forced about 1.5 million to return to the country. This situation has posed a huge challenge for the government which has so far struggled to generate enough for Nepalis youths. </span></span></span></span></h1>

<p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif"><span style="font-size:15.0pt"><span style="font-family:&quot;Arial&quot;,sans-serif">The Prime Minister Employment Programme (PMEP) will be the biggest government undertaking in employment creation which aims to generate 200,000 jobs. &nbsp;PMEP, which has been implemented in all three levels of the government, will ensure 100-day employment. The budget allocation for the programme for the upcoming fiscal year has been increased to Rs 11.60 billion from Rs 5 billion in the current fiscal year. Similarly, Rs 1 billion has been allocated to conduct handicraft, plumbing, electronics, cook, mansion, tailoring, beautician, barber trainings on federal and central levels to generate 50,000 jobs. Meanwhile, Rs 4.34 billion has been allocated to provide technical trainings to 75,000 individuals. </span></span></span></span></p>

<p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif"><span style="font-size:15.0pt"><span style="font-family:&quot;Arial&quot;,sans-serif">The budget has aimed to generate 40,000 jobs through Small Farmers Credit Programme and 12,000 jobs through Self-employment Loan Programme. Meanwhile, the government has targeted to create 127,000 through micro entrepreneurship programme and an additional 30,000 jobs through programmes based on utilisation of forest resources. &ldquo;32,000 instituions promoted by the Poverty Allevation Fund will transformed into cooperatives to create 150,000 jobs,&rdquo; Finance Minister Dr Khatiwada said. </span></span></span></span></p>

<h1><span style="font-size:24pt"><span style="font-family:&quot;Times New Roman&quot;,serif"><span style="font-size:15.0pt"><span style="font-family:&quot;Arial&quot;,sans-serif">In his budget speech, the finance minister said that local units will run infrastructure development and social programmes and &lsquo;food for work&rsquo; programme targeting people from poor families. Similarly, those who have lost their jobs in the country and foreign returnees will be employed in labour-intensive development works. The government has announced to further tighten to employ foreign workers without obtaining labour permits. Presently, there is an arrangement in this regard, but hundreds of thousands of foreign workers, particularly from India, are working in Nepal without such permits due to lax regulation and monitoring. Economists say that this situation offers big opportunities to Nepal to replace foreign workforce in the country with Nepali workers. Dr Shankar Sharma, former vice chairman of National Planning Commission (NPC) thinks that this will help to enhance skills of Nepali workers which would ultimately make a big difference. &nbsp;</span></span></span></span></h1>
',
			'published' => true,
			'created' => '2020-05-29',
			'modified' => '2020-05-29',
			'keywords' => '',
			'description' => '',
			'sortorder' => '11839',
			'image' => '20200529013427_employment.jpg',
			'article_date' => '2020-05-29 13:32:30',
			'homepage' => false,
			'breaking_news' => false,
			'main_news' => true,
			'in_scroller' => null,
			'user_id' => '31'
		)
	),
	(int) 14 => array(
		'Article' => array(
			'id' => '12088',
			'article_category_id' => '1',
			'title' => 'Irrigation and Agriculture Sector-focused Programmes Get Priority',
			'sub_title' => '',
			'summary' => 'The government has prioritised the agriculture sector development by announcing a slew of programmes in the Federal Budget for FY2020/21.',
			'content' => '<h2><span style="font-size:18pt"><span style="font-family:&quot;Times New Roman&quot;,serif"><span style="font-size:16.0pt"><span style="font-family:&quot;Arial&quot;,sans-serif">The government has prioritised the agriculture sector development by announcing a slew of programmes in the Federal Budget for FY2020/21. Presenting the budget in the House of Representatives, Dr Yuba Raj Khatiwada said that Rs 41 billion has been allocated for promoting agricultural products and Rs 27 billion for irrigation infrastructure development. </span></span></span></span></h2>

<h2><span style="font-size:18pt"><span style="font-family:&quot;Times New Roman&quot;,serif"><span style="font-size:16.0pt"><span style="font-family:&quot;Arial&quot;,sans-serif">The programmes announced for agriculture sector development include facilitation of contract and land pooling, establishment of 78 wholesale markets for agriculture produce across covering all seven provinces, cash subsidy to farmers for improvised seed production, installation of weather radars, formation of land banks at 300 locations across the country, international promotion and branding of Nepali coffee, major herbs and other cash crops, launching of farmers credit card, setting up of standard food testing lab one each in Gandaki and Karnali provinces and setting up of well-facilitated animal quarantine labs at all major border customs across the country. Similarly, Rs 11 billion has been allocated in the budget for supply and distribution of chemical fertilisers, while Rs 950 million has been allocated for promotion of sugarcane cultivation. Likewise, Rs 3.22 billion has been allocated to run &lsquo;One Local Level, One Pocket Product&rsquo; programme. </span></span></span></span></h2>

<h2><span style="font-size:18pt"><span style="font-family:&quot;Times New Roman&quot;,serif"><span style="font-size:16.0pt"><span style="font-family:&quot;Arial&quot;,sans-serif">Meanwhile, the government has announced to promote shallow water irrigation system with a view to expand irrigation to additional 22,000 hectares of land across the country. Finance Minister Dr Khatiwada also said that the construction of the proposed Mahakali Irrigation Project will move ahead as a national pride project. </span></span></span></span></h2>

<p>&nbsp;</p>
',
			'published' => true,
			'created' => '2020-05-28',
			'modified' => '2020-05-28',
			'keywords' => '',
			'description' => '',
			'sortorder' => '11838',
			'image' => '20200528075055_irrigation.jpg',
			'article_date' => '2020-05-28 19:47:42',
			'homepage' => false,
			'breaking_news' => false,
			'main_news' => true,
			'in_scroller' => null,
			'user_id' => '31'
		)
	)
)
$current_user = null
$logged_in = false
$xml = false
include - APP/View/Elements/side_bar.ctp, line 133
View::_evaluate() - CORE/Cake/View/View.php, line 971
View::_render() - CORE/Cake/View/View.php, line 933
View::_renderElement() - CORE/Cake/View/View.php, line 1224
View::element() - CORE/Cake/View/View.php, line 418
include - APP/View/Articles/index.ctp, line 157
View::_evaluate() - CORE/Cake/View/View.php, line 971
View::_render() - CORE/Cake/View/View.php, line 933
View::render() - CORE/Cake/View/View.php, line 473
Controller::render() - CORE/Cake/Controller/Controller.php, line 968
Dispatcher::_invoke() - CORE/Cake/Routing/Dispatcher.php, line 200
Dispatcher::dispatch() - CORE/Cake/Routing/Dispatcher.php, line 167
[main] - APP/webroot/index.php, line 117

Warning (2): simplexml_load_file() [<a href='http://php.net/function.simplexml-load-file'>function.simplexml-load-file</a>]: I/O warning : failed to load external entity &quot;&quot; [APP/View/Elements/side_bar.ctp, line 133]Code Context  //  $file = 'http://aabhiyan:QUVLg8Wzs2F7G9N7@nepalstock.com.np/api/subindexdata.xml';



    if(!$xml = simplexml_load_file($file)){
$viewFile = '/var/www/html/newbusinessage.com/app/View/Elements/side_bar.ctp'
$dataForView = array(
	'articles' => array(
		(int) 0 => array(
			'Article' => array(
				[maximum depth reached]
			)
		),
		(int) 1 => array(
			'Article' => array(
				[maximum depth reached]
			)
		),
		(int) 2 => array(
			'Article' => array(
				[maximum depth reached]
			)
		),
		(int) 3 => array(
			'Article' => array(
				[maximum depth reached]
			)
		),
		(int) 4 => array(
			'Article' => array(
				[maximum depth reached]
			)
		),
		(int) 5 => array(
			'Article' => array(
				[maximum depth reached]
			)
		),
		(int) 6 => array(
			'Article' => array(
				[maximum depth reached]
			)
		),
		(int) 7 => array(
			'Article' => array(
				[maximum depth reached]
			)
		),
		(int) 8 => array(
			'Article' => array(
				[maximum depth reached]
			)
		),
		(int) 9 => array(
			'Article' => array(
				[maximum depth reached]
			)
		),
		(int) 10 => array(
			'Article' => array(
				[maximum depth reached]
			)
		),
		(int) 11 => array(
			'Article' => array(
				[maximum depth reached]
			)
		),
		(int) 12 => array(
			'Article' => array(
				[maximum depth reached]
			)
		),
		(int) 13 => array(
			'Article' => array(
				[maximum depth reached]
			)
		),
		(int) 14 => array(
			'Article' => array(
				[maximum depth reached]
			)
		)
	),
	'current_user' => null,
	'logged_in' => false
)
$articles = array(
	(int) 0 => array(
		'Article' => array(
			'id' => '12104',
			'article_category_id' => '1',
			'title' => 'Nepal Signs USD 250 million Loan Agreement with ADB ',
			'sub_title' => '',
			'summary' => 'Nepal has signed a USD 250 million (Rs 30 billion aprox.) loan agreement with the Asian Development Bank (ADB) to fight coronavirus. ',
			'content' => '<p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif"><span style="font-size:15.0pt"><span style="font-family:&quot;Cambria&quot;,serif">Nepal has signed a USD 250 million (Rs 30 billion aprox.) loan agreement with the Asian Development Bank (ADB) to fight coronavirus. Finance Secretary Sishir Kumar Dhungana, and Mukhtor Khamudkhanov, ADB Country Director for Nepal signed agreement papers amid a function organised at the Ministry of Finance (ADB) on June 1. Finance Minister Dr Yuba Raj Khatiwada and other high officials of the government and ADB were present during the function. As per the agreement, the Manila-based lender will lend the money to Nepal under its COVID-19 Active Response and Expenditure Support (CARES) Programme. </span></span></span></span></p>

<p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif"><span style="font-size:15.0pt"><span style="font-family:&quot;Cambria&quot;,serif">ADB will provide the concessional loan as a budgetary support to help the government to strengthen the country&rsquo;s public health infrastructure. The loan will be utilised in scaling up testing, tracing and tracking of Covid-19 cases, establishing isolation facilities across the country and strengthening existing hospitals and health centres in terms of equipment, medicine and workforce. Similarly, ADB will also support Nepal &nbsp;to mitigate the adverse economic and social impacts of the Covid-19 pandemic through its CARES Programme.</span></span><br />
<span style="font-size:15.0pt"><span style="font-family:&quot;Cambria&quot;,serif">Speaking on the occasion Finance Secretary Dhungana said, &ldquo;This loan will be mobilized through the National Relief Programme of the government which targets to enhance public health system, provide social security and generate employment to face the challenges presented by the Covid-19 pandemic.&rdquo; ADB country director for Nepal Khamudkhanov reiterated the bank&rsquo;s commitment to support Nepal during difficult times.&nbsp;&nbsp;</span></span></span></span></p>
',
			'published' => true,
			'created' => '2020-06-02',
			'modified' => '2020-06-02',
			'keywords' => '',
			'description' => '',
			'sortorder' => '11852',
			'image' => '20200602102341_Nepal-ADB.jpg',
			'article_date' => '2020-06-02 10:21:40',
			'homepage' => false,
			'breaking_news' => false,
			'main_news' => true,
			'in_scroller' => null,
			'user_id' => '31'
		)
	),
	(int) 1 => array(
		'Article' => array(
			'id' => '12103',
			'article_category_id' => '1',
			'title' => 'Global IME Bank Supports Photojournalists  ',
			'sub_title' => '',
			'summary' => 'As a part of its corporate social responsibility (CSR), Global IME Bank Limited has provided press jackets to photojournalists working in different districts. ',
			'content' => '<p><span style="font-size:12pt"><span style="font-family:&quot;Times New Roman&quot;,serif"><span style="font-size:15.0pt"><span style="font-family:&quot;Cambria&quot;,serif">As a part of its corporate social responsibility (CSR), Global IME Bank Limited has provided press jackets to photojournalists working in different districts. The bank&rsquo;s Deputy General Manager Surendra Raj Regmi handed over the jackets to Dhruv Ale, president of Federation of Nepalese Photojournalist (FNPJ) amid a programme organised at Global IME&rsquo;s head office in Kamaladi on May 31. </span></span></span></span></p>

<p><span style="font-size:12pt"><span style="font-family:&quot;Times New Roman&quot;,serif"><span style="font-size:15.0pt"><span style="font-family:&quot;Cambria&quot;,serif">&ldquo;We expect that the press jackets will make the works of photojournalists easier in the current difficult situation,&rdquo; a statement issued by the bank quoted Regmi as saying. NFPJ President Ale thanked Global IME Bank for its support and said that the jackets would make safer for photojournalists to discharge their professional duties. </span></span></span></span></p>
',
			'published' => true,
			'created' => '2020-06-01',
			'modified' => '2020-06-01',
			'keywords' => '',
			'description' => '',
			'sortorder' => '11851',
			'image' => '20200601053453_Global IME.jpg',
			'article_date' => '2020-06-01 17:33:45',
			'homepage' => false,
			'breaking_news' => false,
			'main_news' => false,
			'in_scroller' => null,
			'user_id' => '31'
		)
	),
	(int) 2 => array(
		'Article' => array(
			'id' => '12102',
			'article_category_id' => '1',
			'title' => 'New Tax Plans for Electric Vehicles Sparks Criticism',
			'sub_title' => '',
			'summary' => 'Since the announcement of tax hike  on import of electric vehicles in the Federal Budget for FY2020/21 on may 28, the government has been facing scrutiny from various quarters of the society for the environment un-friendly move with critics saying the hike in taxes has pronounced a death knell for the electric four-wheelers that have grown in popularity over the past two years. ',
			'content' => '<p><span style="font-size:12pt"><span style="font-family:&quot;Times New Roman&quot;,serif"><span style="font-size:15.0pt"><span style="font-family:&quot;Cambria&quot;,serif">Since the announcement of tax hike&nbsp; on import of electric vehicles in the Federal Budget for FY2020/21 on May 28, the government has been facing scrutiny from various quarters of the society for the environment un-friendly move with critics saying the hike in taxes has pronounced a death knell for the electric four-wheelers that have grown in popularity over the past two years. In his budget speech, Finance Minister Dr Yuba Raj Khatiwada announced that electric vehicles will be levied 30-80 percent customs duty and 5-80 percent excise duty, depending upon the capacity of the four-wheelers. As per earlier arrangements, importers were required to pay 10 percent in customs duty and 13 percent in value added tax (VAT). </span></span></span></span></p>

<p><span style="font-size:12pt"><span style="font-family:&quot;Times New Roman&quot;,serif"><span style="font-size:15.0pt"><span style="font-family:&quot;Cambria&quot;,serif">Nepal Automobile Dealers Association (NADA) is the latest organisation to raise its voice against the massive increment of the tax rates. Issuing a press statement, the association said that the tax hike will make electric vehicles as costlier as internal combustion engine vehicles and hence will be less attractive to car buyers. &ldquo;The </span></span><span style="font-size:15.0pt"><span style="font-family:&quot;Cambria&quot;,serif">proposed tax will make the electric vehicles more expensive for the general people. It will ultimately hinder the government&rsquo;s policy to promote eco-friendly transport,&rdquo; reads the statement. Similarly, NADA also urged the government to ease the lockdown so that people can return to their business and work. &ldquo;Economic activities have been severely affected to the protracted closure. Now business activities need to be resumed by following health safety standards,&rdquo; NADA said. </span></span></span></span></p>

<p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif"><span style="font-size:15.0pt"><span style="font-family:&quot;Cambria&quot;,serif">In the meantime, three organisations have also asked the government to scrap the taxes imposed on import of electric vehicles. In a joint statement, Electric Vehicle Association of Nepal (EVAN), Nepal Forum of Environmental Journalists (NFEEJ) and Clean Energy Nepal (CEN) said that the new budgetary arrangements will discourage electric vehicles and promote fossil fuel run vehicles. </span></span></span></span></p>

<p>&nbsp;</p>
',
			'published' => true,
			'created' => '2020-06-01',
			'modified' => '2020-06-01',
			'keywords' => '',
			'description' => '',
			'sortorder' => '11850',
			'image' => '20200601050236_electric car.jpg',
			'article_date' => '2020-06-01 16:52:31',
			'homepage' => false,
			'breaking_news' => false,
			'main_news' => true,
			'in_scroller' => null,
			'user_id' => '31'
		)
	),
	(int) 3 => array(
		'Article' => array(
			'id' => '12101',
			'article_category_id' => '1',
			'title' => 'Sharp Contraction in Commercial Banks' Lending, New Loan Extension Falls to Zero',
			'sub_title' => '',
			'summary' => 'With the dwindling of credit demand due the lockdown imposed by the government, private sector lending of commercial banks has sharply contracted in the last month. ',
			'content' => '<h2><span style="font-size:18pt"><span style="font-family:&quot;Times New Roman&quot;,serif"><span style="font-size:16.0pt"><span style="font-family:&quot;Cambria&quot;,serif">With the dwindling of credit demand due the lockdown imposed by the government, private sector lending of commercial banks has sharply contracted in the last month. According to data provided by the Nepal Bankers&rsquo; Association (NBA), commercial banks registered Rs 16 billion of negative credit of their total loan extension in April-May (Baisakh) compared to March-April (Chaitra). &nbsp;The banks in March-April extended a total of Rs 42 billion in loans. The total loan extension of 27 commercial banks reached Rs 2,845 billion by March-April which declined by Rs 16 billion to Rs 2,829 billion in April-May. The total credit of banks become negative because of collection of old loans but zero extension of new loans. &nbsp;</span></span></span></span></h2>

<h2><span style="font-size:18pt"><span style="font-family:&quot;Times New Roman&quot;,serif"><span style="font-size:16.0pt"><span style="font-family:&quot;Cambria&quot;,serif">However, collection of deposits has remained satisfactory despite a dip in April-May. In March-April, commercial banks collected a total of Rs 49 billion in deposits which declined to Rs 30 billion in April-May. The total deposit collection of banks reached to Rs 3,219 billion in April-May from Rs 3,189 billion in March-April. &nbsp;</span></span></span></span></h2>

<h2><span style="font-size:18pt"><span style="font-family:&quot;Times New Roman&quot;,serif"><span style="font-size:16.0pt"><span style="font-family:&quot;Cambria&quot;,serif">Bhuvan Kumar Dahal, president of NBA said that halt in commercial and other transactions has negatively impacted the banking sector. &ldquo;With no end in sight of the lockdown, industries and businesses have remained shut down. As a result, bank transactions have decreased sharply,&rdquo; he mentioned. </span></span></span></span></h2>

<h2><span style="font-size:18pt"><span style="font-family:&quot;Times New Roman&quot;,serif"><span style="font-size:16.0pt"><span style="font-family:&quot;Cambria&quot;,serif">Bankers are having a hard time as the current situation does not allows for extension of new loans due to which interest rate income of banks is also following a declining trend. According to Dahal, the credit-to-core capital-deposit (CCD) ratio of commercial banks has decreased to 76 percent because of halt in extension of new loans. However, renewal of deposits is ongoing in banks. &ldquo;The banking system therefore has adequate investment-grade liquidity at present which is being invested in government bonds such as treasury bills,&rdquo; informed Dahal. </span></span></span></span></h2>
',
			'published' => true,
			'created' => '2020-06-01',
			'modified' => '2020-06-01',
			'keywords' => '',
			'description' => '',
			'sortorder' => '11849',
			'image' => '20200601032952_bank lending.jpg',
			'article_date' => '2020-06-01 15:27:47',
			'homepage' => false,
			'breaking_news' => false,
			'main_news' => true,
			'in_scroller' => null,
			'user_id' => '31'
		)
	),
	(int) 4 => array(
		'Article' => array(
			'id' => '12100',
			'article_category_id' => '1',
			'title' => 'Disquiet of Business Community Grows with Extension of Lockdown ',
			'sub_title' => '',
			'summary' => 'The country’s private sector has raised its voices against the 8th extension of the lockdown till June 14. ',
			'content' => '<p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif"><span style="font-size:16.0pt"><span style="font-family:&quot;Cambria&quot;,serif">The country&rsquo;s private sector has raised its voices against the 8<sup>th</sup> extension of the lockdown till June 14. A meeting of council of ministers held on May 30 decided to further extend the lockdown amid the rising number of Covid-19 infection cases and deaths. Critics say that instead of curbing the spread of coronavirus, the lockdown, which is in place since March 24, has crippled economic activities sending the country&rsquo;s economy into a deep recession unlike anything Nepal has experienced in the past. Major private sector bodies, that have avoided criticizing the government in terms of its handling of the situation, have now started criticizing the government for its indifference to their demands and ignoring warnings of economic fallout of the protracted lockdown. Expressing their displeasure, they have said that extension of the lockdown, without any change in the modality, will be disastrous for the already severely weakened economy. </span></span></span></span></p>

<p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif"><span style="font-size:16.0pt"><span style="font-family:&quot;Cambria&quot;,serif">Issuing a press statement on May 31, the Federation of Nepalese Chambers of Commerce and Industry (FNCCI) urged the government to rethink the duration and modality of the lockdown while considering the sensitiveness of public health. &ldquo;We urge the government to devise the modality of the lockdown so that the economic activities can be restarted,&rdquo; reads the statement. </span></span></span></span></p>

<p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif"><span style="font-size:16.0pt"><span style="font-family:&quot;Cambria&quot;,serif">Earlier, the government permitted to operate 42 types of industries during the lockdown period. However, the strict restrictions in transportation and movement of people and market access have hindered industrialists to operate their industries in full capacity. According to them, the lack of coordination between authorities and all three levels of the government has added to their problems to restart industrial activities. Industrialist complain that government is not showing any seriousness despite the worsening situation which will ultimately lead to the collapse of the industrial sector. They say that the government now needs to contemplate international practices in easing lockdown by further strengthening the health sector expanding the scope of Covid-19 testing, tracing tracking and by introducing effective social distancing measures to reduce the risk of spread of coronavirus. </span></span></span></span></p>

<p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif"><span style="font-size:16.0pt"><span style="font-family:&quot;Cambria&quot;,serif">FNCCI has said that it is concerning that the 8<sup>th</sup> extension of the lockdown was announced without taking suggestions from stakeholders at a time when the economic loss from the lockdown has amounted to 4 percent of the country&rsquo;s GDP, business activities have collapsed, and millions of people have lost their jobs. &nbsp;&ldquo;The government needs to engage in dialogue with stakeholders directly associated with the country&rsquo;s economy to extend restrictive measures,&rdquo; FNCCI has demanded.</span></span></span></span></p>

<p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif"><span style="font-size:16.0pt"><span style="font-family:&quot;Cambria&quot;,serif">Shekhar Golchha, senior vice president of FNCCI said that the lockdown should be eased for the industrial sector under any circumstances. &ldquo;We don&rsquo;t know why the government is ignoring the economic fallout. But one thing has become clear that only lockdown cannot save people from coronavirus,&rdquo; he opined, adding, &ldquo;It is true that our open border with India has increased risks of the contagion of the virus. However, there are no alternatives than to gradually ease the lockdown by maintaining effective health security.&rdquo; Golchha warned that number of Covid-19 cases and deaths could increase in the coming days and that all should be prepared to face the challenges. </span></span></span></span></p>

<p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif"><span style="font-size:16.0pt"><span style="font-family:&quot;Cambria&quot;,serif">According to him, the private sector has shouldered the burden of the country&rsquo;s economic recovery. &ldquo;We have provided employment to millions of Nepalis. The share of the private sector in government revenue stands at 70 percent. Therefore, an immense pressure has been created for the private sector in terms of revival of the pandemic-ravaged economy,&rdquo; noted Golchha, adding, &ldquo;Nevertheless, if the lockdown is extended without proper exit plans, the country&rsquo;s economy will reach of point where recovery will not be possible.&rdquo;</span></span></span></span></p>

<p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif"><span style="font-size:16.0pt"><span style="font-family:&quot;Cambria&quot;,serif">Satish Kumar Moore, president of Confederation of Nepalese Industries (CNI) also said that lockdown needs to be eased by implementing effective health security measures. According to him, the economic slump will further deepen if the government does not show seriousness to restart business activities. &ldquo;It will be appropriate to continue lockdown in areas highly affected by coronavirus while easing economic activities in less affected areas,&rdquo; he said. </span></span></span></span></p>

<p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif"><span style="font-size:16.0pt"><span style="font-family:&quot;Cambria&quot;,serif">Pashupati Murarka, former president of FNCCI said that the government now needs to shift its focus from stopping the spread of coronavirus to saving the country&rsquo;s economy from collapse. &ldquo;Supply chains have been badly affected by the lockdown. Some industries that have restarted their operations are unable to supply their products to the market. The ongoing lockdown has hindered cement industries to transport raw materials from mines to their factories,&rdquo; he said. &nbsp;According to him, the government needs to announce policies to ease the problems for the industrial sector. &ldquo;There are no alternatives for us than to learn to live and carry on our activities facing the challenges posed by the coronavirus,&rdquo; he expressed. </span></span></span></span></p>

<p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif"><span style="font-size:16.0pt"><span style="font-family:&quot;Cambria&quot;,serif">Rajesh Kaji Shrestha, president of Nepal Chamber of Commerce (NCC) said that the government has ignored the concerns and problems of the business community. &ldquo;It seems the government thinks that its one and only responsibility is to give continuation to lockdown and it does not have to pay attention the plight of the business community. Now the government urgently needs to prioritise changing the modality of the lockdown so that business activities are restarted,&rdquo; he said. </span></span></span></span></p>
',
			'published' => true,
			'created' => '2020-06-01',
			'modified' => '2020-06-01',
			'keywords' => '',
			'description' => '',
			'sortorder' => '11848',
			'image' => '20200601121121_lockdown.jpg',
			'article_date' => '2020-06-01 12:07:19',
			'homepage' => false,
			'breaking_news' => false,
			'main_news' => true,
			'in_scroller' => null,
			'user_id' => '31'
		)
	),
	(int) 5 => array(
		'Article' => array(
			'id' => '12099',
			'article_category_id' => '1',
			'title' => 'Xiaomi Launches Mi 10 and Mi Note 10 Lite in Nepal',
			'sub_title' => '',
			'summary' => 'Chinese smartphone brand Xiaomi has launched its two flagship handsets Mi 10 and Mi Note 10 Lite in the Nepali market. ',
			'content' => '<p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif"><span style="font-size:16.0pt"><span style="font-family:&quot;Cambria&quot;,serif">Chinese smartphone brand Xiaomi has launched its two flagship handsets Mi 10 and Mi Note 10 Lite in the Nepali market. Issuing a press statement, the company said that Mi 10 is the first smartphone to hit the Nepali market with a 108MP quad-camera setup and Qualcomm<sup> </sup>Snapdragon 865 processor for 5G connectivity. &nbsp;The phone comes with a 3D Curved AMOLED display, 4,780mAh battery, and 30W wireless charging. &ldquo;With 8GB RAM (LPDDR5) and 128GB or 256GB ROM (UFS 3.0), Mi 10 offers swift response and an ultra-smooth operating experience. Paired with the most sophisticated cooling system, Mi 10 uses LiquidCool 2.0 &ndash; an advanced cooling system consisting of a large vapor chamber, as well as multi-layer graphite and graphene stacks that dissipate heat to ensure sustained peak performance,&rdquo; reads the statement. </span></span></span></span></p>

<p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif"><span style="font-size:16.0pt"><span style="font-family:&quot;Cambria&quot;,serif">Xiaomi claimed that Mi 10 redefines smartphone photography and videography with its OIS-enabled 108MP quad rear camera setup and users can shoot ultra-clear shots along with details unseen to the naked eye with the 108MP primary sensor and experience the full view of their subjects with the 13MP ultra-wide angle lens, with 123&deg; FOV. The company informed that Mi 10 also supports UHD 8K video recording at 30fps.</span></span></span></span></p>

<p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif"><span style="font-size:16.0pt"><span style="font-family:&quot;Cambria&quot;,serif">Similarly, Mi Note 10 Lite offers a 6.47&rsquo;&rsquo; curved AMOLED display, a 4MP quad-camera setup, Qualcomm<sup> </sup>Snapdragon 730G SoC and a large-capacity 5,260mAh battery, according to the statement. </span></span></span></span></p>

<p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif"><span style="font-size:16.0pt"><span style="font-family:&quot;Cambria&quot;,serif">&ldquo;Sporting a first class 6.47&rsquo;&rsquo; 3D curved AMOLED display and a 3D curved glass back, Mi Note 10 Lite provides a premium in-hand feel,&rdquo; said the company. According to Xiaomi, with smoothly curved and tapered edges on four sides, Mi Note 10 Lite brings about an outstanding 91.4 percent screen-to-body ratio that will surely amaze with its immersive viewing experience.</span></span></span></span></p>

<p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif"><span style="font-size:16.0pt"><span style="font-family:&quot;Cambria&quot;,serif">&nbsp;&ldquo;With Mi 10, we aim to redefine the premium smartphone experience for consumers in Nepal. This device is a pinnacle of smartphone design and engineering, pushing the boundaries of what&#39;s possible on a handheld device. With its flagship OIS enabled 108MP Quad Camera setup, UHD 8K video recording, world&rsquo;s fastest 30W wireless charging, we hope our users can create content in a way never thought possible before, with Mi 10,&rdquo; the statement quoted Sourabh Kothari, Xiaomi&rsquo;s country general manager for Nepal, as saying. </span></span></span></span></p>

<p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif"><span style="font-size:16.0pt"><span style="font-family:&quot;Cambria&quot;,serif">As per the company, </span></span><span style="font-size:16.0pt"><span style="font-family:&quot;Cambria&quot;,serif">Mi 10 will be available in two colour variants - twilight grey and coral green at a price of Rs 89,999<strong>.</strong> Similarly, Mi Note 10 Lite will be available in 6GB + 128GB variant and three colour options - midnight black, glacier white and nebula purple at Rs 44,999. &ldquo;Both phones will be available for purchase across offline stores, retail partners and online partners Daraz and Sastodeal very soon,&rdquo; informed the company. </span></span></span></span></p>

<p>&nbsp;</p>

<p>&nbsp;</p>

<p>&nbsp;</p>
',
			'published' => true,
			'created' => '2020-05-31',
			'modified' => '2020-05-31',
			'keywords' => '',
			'description' => '',
			'sortorder' => '11847',
			'image' => '20200531054346_MI NOTE 10.jpg',
			'article_date' => '2020-05-31 17:41:39',
			'homepage' => false,
			'breaking_news' => false,
			'main_news' => false,
			'in_scroller' => null,
			'user_id' => '31'
		)
	),
	(int) 6 => array(
		'Article' => array(
			'id' => '12096',
			'article_category_id' => '1',
			'title' => ' Rs 1 billion in Fines Waived for Nepali Importers at Kolkata Port',
			'sub_title' => '',
			'summary' => 'Nepali importers have received waivers of about Rs 1 billion in detention and ground rent at the Kolkata Port for the lockdown period.',
			'content' => '<h1><span style="font-size:24pt"><span style="font-family:&quot;Times New Roman&quot;,serif"><span style="font-size:16.0pt"><span style="font-family:&quot;Cambria&quot;,serif">Nepali importers have received waivers of about Rs 1 billion in detention and ground rent at the Kolkata Port for the lockdown period. Vineet Kumar, chairman of Kolkata Port Trust informed that fines for Nepali importers were waived because of their inability to transport the containers shipped from third countries due to the ongoing lockdown in India which is in place since March 22. According to him, Nepali importers have received Rs 930 million (INR 580 million) in waivers in detention and ground rent at the port. </span></span></span></span></h1>

<h1><span style="font-size:24pt"><span style="font-family:&quot;Times New Roman&quot;,serif"><span style="font-size:16.0pt"><span style="font-family:&quot;Cambria&quot;,serif">Of the total amount, Rs 880 million has been waived in detention charges to shipping companies and Rs 50 million in ground rent to the port authority. Earlier, the government of India had directed port authorities of the country not to fine importers and levy them additional charges for the period of March 22 to May 3. However, importers won&rsquo;t be receiving such waivers after March 22 even the lockdown has been extended till May 31. The Indian government has relaxed the ongoing lockdown from May 3 by easing transport and movement of people. </span></span></span></span></h1>

<h1><span style="font-size:24pt"><span style="font-family:&quot;Times New Roman&quot;,serif"><span style="font-size:16.0pt"><span style="font-family:&quot;Cambria&quot;,serif">Nepali importers enjoy free time of 15 days for Nepal bound road containers and 20 days for rail containers at the Kolkata Port. They are required to pay ground rent if they do not clear their shipments from the port after the end of the free time. &nbsp;The port authority has said that the free time will be calculated before March 22 and after May 3. Similarly, shipping companies provide free time of 14-21 days. Nepali importers who get five days to return the containers after the shipments are made to the Birgunj Dry Port; they are required to pay detention charges if they do not return the containers within the stipulated time. &nbsp;According to the Kolkata Port authority officials, some shipping companies have waived detention charges on the basis of mutual understanding with Nepali importers even after May 3. &nbsp;Over 4,000 Nepal bound containers were stuck at the port after the sudden halt in transportation and movement of people due to the lockdown imposed by the government to curb the spread of coronavirus. The containers were transported to nearby freight station (CFS) after the space at the port got constrained due to increased numbers of shipments. Kolkata Port Authority Chairman Kumar informed that the CFS operator has been directed to provide Nepali importers an additional 15 days of free time to transport the containers. </span></span></span></span></h1>
',
			'published' => true,
			'created' => '2020-05-31',
			'modified' => '2020-05-31',
			'keywords' => '',
			'description' => '',
			'sortorder' => '11846',
			'image' => '20200531053058_kolkata port.jpg',
			'article_date' => '2020-05-31 17:25:03',
			'homepage' => false,
			'breaking_news' => false,
			'main_news' => true,
			'in_scroller' => false,
			'user_id' => '31'
		)
	),
	(int) 7 => array(
		'Article' => array(
			'id' => '12095',
			'article_category_id' => '1',
			'title' => 'Over 1,000 DEMAT Accounts Opened during Lockdown ',
			'sub_title' => '',
			'summary' => 'While the stock market has remained closed for the last 69 days due to the lockdown, the number of people opening DEMAT account for share transactions has increased significantly. ',
			'content' => '<p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif"><span style="font-size:16.0pt"><span style="font-family:&quot;Cambria&quot;,serif">While the stock market has remained closed for the last 69 days due to the lockdown, the number of people opening DEMAT account for share transactions has increased significantly. According to the CDS and Clearing (CDSC) Limited, 1,062 DEMAT accounts have been opened over the last two months. Suresh Neupane, spokesperson at CDSC said that shareholders have opened accounts to secure their shares at a time when uncertainty has prevailed in financial market. &nbsp;According to him, the increase in the number of DEMAT accounts is also attributed to the continuation of services of merchant banks and depository participant (DP) offices. The number of DEMAT accounts has reached 1.66 million after the account was made mandatory four years ago when ASBA system was introduced for share transaction. Stock investors are required to mention their DEMAT accounts while applying for initial public offerings (IPOs) and doing share transactions in the secondary market. </span></span></span></span></p>

<p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif"><span style="font-size:16.0pt"><span style="font-family:&quot;Cambria&quot;,serif">As the capital market agencies are putting their efforts for the full digitization of share transactions from the next fiscal year, the increase number of DEMAT accounts show the attraction of stock investors in digital transaction. Damaru Ballav Ghimire, a stock investor, said that troubles related to archiving of paper share certificate has ended with the commencement of DEMAT account transaction. According to him, he has updated his all 350 share certificates in the account. &ldquo;Now investors don&rsquo;t have to get into queue anymore to archive their certificates and they don&rsquo;t have to worry about losing the paper certificates,&rdquo; he said. Ghimire said that many stock investors are yet to deposit their shares into their DEMAT accounts due to which they are not able to receive dividends on time. According to CDSC, 5.24 billion units of shares have been deposited into DEMAT accounts. </span></span></span></span></p>
',
			'published' => true,
			'created' => '2020-05-31',
			'modified' => '2020-05-31',
			'keywords' => '',
			'description' => '',
			'sortorder' => '11845',
			'image' => '20200531051929_demat.jpg',
			'article_date' => '2020-05-31 17:17:06',
			'homepage' => false,
			'breaking_news' => false,
			'main_news' => true,
			'in_scroller' => null,
			'user_id' => '31'
		)
	),
	(int) 8 => array(
		'Article' => array(
			'id' => '12094',
			'article_category_id' => '1',
			'title' => 'HAN Revise Charges for Covid-19 Quarantine at Hotels',
			'sub_title' => '',
			'summary' => 'Hotel Association Nepal (HAN) has lowered the charges for providing Covid-19 quarantine facilities at hotels. ',
			'content' => '<p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif"><span style="font-size:16.0pt"><span style="font-family:&quot;Cambria&quot;,serif">Hotel Association Nepal (HAN) has lowered the charges for providing Covid-19 quarantine facilities at hotels. The hotel industry body, which had earlier set charges ranging from Rs 3,000 to Rs 16,000 per person to keep foreign returnees has now reduced the charge to Rs 3,000 per person for one-star and tourist-level hotels. &nbsp;According to Sajan Shakya, general secretary at HAN, two individuals sharing a same room at tourist-level hotels have to pay Rs 4,000 per day as per the revised rate. </span></span></span></span></p>

<p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif"><span style="font-size:16.0pt"><span style="font-family:&quot;Cambria&quot;,serif">Earlier, the rate was Rs 5,000 for a person and Rs 6,000 for two. HAN has said that 20,000 hotel rooms across the country can be used as quarantine facilities. Among the 15 chapters of HAN, Kathmandu, Bhaktapur, Pokhara, Chitwan, Bhairahawa, Nepalgunj and Biratnagar chapters have already notified the industry body about the number of hotel rooms that can be used as isolation facilities. </span></span></span></span></p>

<p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif"><span style="font-size:16.0pt"><span style="font-family:&quot;Cambria&quot;,serif">According to Shakya, 3,100 hotel rooms in Kathmandu, 4,000 each in Pokhara, Chitwan and Bhairahawa, 2,500 in Nepalgunj and the remaining 2,400 rooms in Bhaktapur and Biratnagar can be used for accommodation of foreign returnees. As per arrangements announced by HAN, individuals using rooms of five-star hotels and deluxe resorts will be charged Rs 16,000 per person while it is Rs 10,000 for two individuals sharing a same room. &nbsp;Similarly, the rates for using a four-star hotel room have been set at Rs 14,000 and Rs 8,000. The isolation stay at three-star and two-star hotels has been set at Rs 10,000 for an individual and Rs 6,000 for two people sharing a same room. HAN has informed that hotels will provide meals four times a day, communications and other basic services to those coming for isolation. </span></span></span></span></p>

<p>&nbsp;</p>
',
			'published' => true,
			'created' => '2020-05-31',
			'modified' => '2020-05-31',
			'keywords' => '',
			'description' => '',
			'sortorder' => '11844',
			'image' => '20200531051443_room.jpg',
			'article_date' => '2020-05-31 17:11:55',
			'homepage' => false,
			'breaking_news' => false,
			'main_news' => true,
			'in_scroller' => null,
			'user_id' => '31'
		)
	),
	(int) 9 => array(
		'Article' => array(
			'id' => '12093',
			'article_category_id' => '1',
			'title' => 'Sunrise Bank and Eazy Care Join Hands ',
			'sub_title' => '',
			'summary' => 'Sunrise Bank Limited has signed an agreement with the online medical site Eazy Care to provide healthcare to its customers. ',
			'content' => '<p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif"><span style="font-size:15.0pt"><span style="font-family:&quot;Cambria&quot;,serif">Sunrise Bank Limited has signed an agreement with the online medical site Eazy Care to provide healthcare to its customers. Issuing a press statement, the bank said that its customers can get upto 22 percent in discount while availing services from Eazy Care during the lockdown.</span></span></span></span></p>

<p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif"><span style="font-size:15.0pt"><span style="font-family:&quot;Cambria&quot;,serif">As per the agreement, the bank&rsquo;s customers can get 12 percent discount and further 10 percent or upto Rs 500 in cashback by making payments to Eazy Care using QR scanner, debit and credit cards on purchase of medicine. </span></span></span></span></p>

<p>&nbsp;</p>
',
			'published' => true,
			'created' => '2020-05-30',
			'modified' => '2020-05-30',
			'keywords' => '',
			'description' => '',
			'sortorder' => '11843',
			'image' => '20200530044555_sunrise.jpg',
			'article_date' => '2020-05-30 16:43:56',
			'homepage' => false,
			'breaking_news' => false,
			'main_news' => false,
			'in_scroller' => null,
			'user_id' => '31'
		)
	),
	(int) 10 => array(
		'Article' => array(
			'id' => '12092',
			'article_category_id' => '1',
			'title' => 'Budget Provides an Additional Rs 60 billion Relief to Private Sector: FinMin ',
			'sub_title' => '',
			'summary' => 'Finance Minister Dr Yuba Raj Khatiwada has said that the budget has offered an additional Rs 60 billion in relief to businesses.',
			'content' => '<h2><span style="font-size:13pt"><span style="font-family:&quot;Calibri Light&quot;,sans-serif"><span style="font-size:15.0pt"><span style="font-family:&quot;Cambria&quot;,serif">Finance Minister Dr Yuba Raj Khatiwada has said that the budget has offered an additional Rs 60 billion in relief to businesses. &quot;The relief will be provided in the forms of cash, subsidy, tax and fine discounts and concessional loans and the cumulative amount would reach Rs.60 billion,&quot; he said in a post-budget interaction with financial journalists organised at the Ministry of Finance on May 29.</span></span></span></span></h2>

<h2><span style="font-size:13pt"><span style="font-family:&quot;Calibri Light&quot;,sans-serif"><span style="font-size:15.0pt"><span style="font-family:&quot;Cambria&quot;,serif">According to Dr Khatiwada, the refinancing facility to the businesses amounts to Rs 20 billion and the government will mobilise Rs 14 billion to subsidise the interest of the business loans. The government in the Federal Budget for FY 2020/21 has announced to provide business loan at 5 percent. The rest of the interest, which is about 6-7 percent, will be paid to the banks and financial institutions by the government. The finance minister said that the tax concessions would provide a benefit of Rs 6.5 billion to the private sector.</span></span></span></span></h2>

<h2><span style="font-size:13pt"><span style="font-family:&quot;Calibri Light&quot;,sans-serif"><span style="font-size:15.0pt"><span style="font-family:&quot;Cambria&quot;,serif">&quot;The government will pay the social security contributions of the private sector workers for the lockdown period,&quot; Dr Khatiwada said. He said the budget was labour-centred and aims to create jobs, provide social security and relief to the workers. &quot;We aim to create about 500,000 additional employments in various sectors like business, industries, infrastructure and self-employment,&quot; he said. <em>(RSS)</em></span></span></span></span><br />
&nbsp;</h2>
',
			'published' => true,
			'created' => '2020-05-30',
			'modified' => '2020-05-30',
			'keywords' => '',
			'description' => '',
			'sortorder' => '11842',
			'image' => '20200530042434_post-budget interaction.jpg',
			'article_date' => '2020-05-30 16:22:42',
			'homepage' => false,
			'breaking_news' => false,
			'main_news' => true,
			'in_scroller' => false,
			'user_id' => '31'
		)
	),
	(int) 11 => array(
		'Article' => array(
			'id' => '12091',
			'article_category_id' => '1',
			'title' => '‘Budget Traditional, Economic Growth Target Unrealistic’',
			'sub_title' => '',
			'summary' => 'The Federal Budget for FY2020/21 has drawn mixed reaction from former finance ministers, economists and private sector leaders. ',
			'content' => '<p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif"><span style="font-size:15.0pt"><span style="font-family:&quot;Cambria&quot;,serif">The Federal Budget for FY2020/21</span></span><span style="font-size:15.0pt"><span style="font-family:&quot;Cambria&quot;,serif"> has drawn mixed reaction from former finance ministers, economists and private sector leaders. In a post-budget virtual interaction programme organised by the Society of Economic Journalists &ndash; Nepal (SEJON) on May 29, they describe the budget for the upcoming fiscal year as &lsquo;traditional&rsquo; and ordinary which cannot fulfill the needs of the extraordinary times and take the country&rsquo;s economy out of the crisis. They also said that the economic growth target of 7 percent as unrealistic to achieve. According to them, the targets of economic growth, revenue collection, foreign assistance and public expenditure are ambitious. </span></span></span></span></p>

<p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif"><span style="font-size:15.0pt"><span style="font-family:&quot;Cambria&quot;,serif">Commenting on the budget, former Prime Minister and finance minister Dr Baburam Bhattarai said, &ldquo;The budget should have long term plans for socio-economic development. But this year&rsquo;s budget is nothing more than &lsquo;traditional&rsquo;. </span></span><span style="font-size:15.0pt"><span style="font-family:&quot;Cambria&quot;,serif">The pandemic presented a right time for the finance minister to turn challenges into opportunities. But his divided loyalties stopped him to do so. The budget has failed to give priority to economic sectors that need significant investment to revive.&rdquo; Dr Bhattarai said that the budget is directionless which is neither socialism-oriented nor market-oriented. According to him, government to take responsibility to ensure education and health to all citizens which won&rsquo;t be possible through a traditional budget. </span></span></span></span></p>

<p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif"><span style="font-size:15.0pt"><span style="font-family:&quot;Cambria&quot;,serif">&ldquo;Budget for the Prime Minster Employment Programme (PEMP) has been increased. But neither the targeted group will benefit nor the money from state coffer will be utilized if the earmarked budget is spent in activities such as cutting of grasses like in previous years,&rdquo; said Dr Bhattarai. He suggested the government to increase foreign borrowing to manage finances for economic recovery. &ldquo;Foreign debt accounts for 32 percent of Nepal&rsquo;s GDP. It can be increased to 60-65 percent. The government must not hesitate to take loans in these trying times,&rdquo; he added. He claimed that the budget won&rsquo;t be able generate employment as targeted due to the scattered allocations. </span></span></span></span></p>

<p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif"><span style="font-size:15.0pt"><span style="font-family:&quot;Cambria&quot;,serif">Former finance minister Dr Ram Sharan Mahat said that the budget for the upcoming fiscal year is filled with promises and promotional programmes. According to him, the assurances given for employment generation, agriculture and industrial sector development are very difficult to implement at the moment. Dr Mahat objected the internal debt target set by the government in the budget. &ldquo;In the past, the government use to take internal loans not more than 2-3 percent of GDP. But this time it has been set at 5 percent. If the government increases internal borrowings, it will reduce the liquidity in the financial market and will affect generation of jobs and expansion of industrial and business activities,&rdquo; he said. He criticised the government for not lowering corporate tax and increasing customs duty on import of electric vehicles even seeing possibility of excess of electricity in the country. </span></span></span></span></p>

<p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif"><span style="font-size:15.0pt"><span style="font-family:&quot;Cambria&quot;,serif">Another former finance minister Surendra Pandey, however, defended the budget saying that the government has announced arrangements by properly evaluating the country&rsquo;s economic situation and public health. &ldquo;Slashing of public expenditure and increase of budget in public health are positive steps. However, there are challenges to keep the hospitals operational,&rdquo; said Pandey. According to him, there can be difficulties for the government to sustain recurrent expenditures as the revenue target of Rs 900 billion set the upcoming fiscal is relatively low. Similarly, he viewed the 7 percent economic growth target for the upcoming fiscal year as challenging. </span></span></span></span></p>

<p><strong><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif"><span style="font-size:15.0pt"><span style="font-family:&quot;Arial&quot;,sans-serif">Targets Unachievable: Economists</span></span></span></span></strong></p>

<p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif"><span style="font-size:15.0pt"><span style="font-family:&quot;Arial&quot;,sans-serif">Speaking at the interrraction programme, economists said that many targets in the budget won&rsquo;t be unachieved. Dr Shankar Sharma, former vice chairman of National Planning Commission (NPC) said, &ldquo;</span></span><span style="font-size:15.0pt"><span style="font-family:&quot;Mangal&quot;,serif">The target to increase foreign assistance by 125 percent compared to the current fiscal year is impossible to achieve. Given our capacity, I think foreign assistance will be 40 percent less than aimed. On the other hand the 7 percent economic growth target is challenging because of protracted halt in industrial and business activities, and decline in remittance inflow which has already gone down by 20 percent and could further decrease by 50 percent in the coming months.&rdquo; </span></span></span></span></p>

<p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif"><span style="font-size:15.0pt"><span style="font-family:&quot;Mangal&quot;,serif">Prof Dr Govinda Nepal said that the size of the budget is appropriate to deal with the current situation. According to him, the budget was unveiled with a broader consensus and the government&rsquo;s priority to the health sector development and prevention and control of coronavirus is positive. &ldquo;However, the relief measures announced for various economic sectors are not sufficient. The government needs to form separate task force comprising of all stakeholders to review the measures,&rdquo; he mentioned. </span></span></span></span></p>

<p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif"><strong><span style="font-size:15.0pt"><span style="font-family:&quot;Cambria&quot;,serif">&nbsp;Not a stimulus package, scattered relief: Private Sector</span></span></strong></span></span></p>

<p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif"><span style="font-size:15.0pt"><span style="font-family:&quot;Cambria&quot;,serif">The country&rsquo;s private sector, which had demanded that the government to come up with stimulus package 5 percent of GDP, has expressed its displeasure over the measures announced in the Federal Budget for FY2020/21. Speaking at the programme, private sector leaders said that the measures announced by the government cannot be called stimulus package and that the scattered relief won&rsquo;t be helpful to revive economic activities. Shekhar Golchha, senior vice president of Federation of Nepalese Chamber of Commerce and Industries (FNCCI), commented , &ldquo;At a time when economic loss has reached 2-3 percent of the country&rsquo;s GDP and 1.5 million Nepalis have lost their jobs, the budget has indicated that the government has remained conservative rather than becoming liberal to take the economy out of the crisis.&rdquo; According to him, the private sector had demanded that the budget incorporate appropriate measures for liquidity management, bank interest rate, labour management and concession in demand charge of electricity. &ldquo;Among them, the budget has failed to address our demand of labour management which has become the most challenging issue for us at present,&rdquo; he said. &nbsp;Golchha mentioned that the government also did not addressed private sector&rsquo;s demand to ease labour management for those looking to close their industries, archiving of assets and VAT concession.</span></span></span></span></p>

<p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif"><span style="font-size:15.0pt"><span style="font-family:&quot;Cambria&quot;,serif">Kamalesh Agrawal, vice president of Nepal Chamber of Commerce (NCC) said that the government did not meet the expectations of business community as it was under political pressure. &ldquo;The stimulus package suggested by the private sector was not taken seriously. Refinancing and stimulus package differ in scope and features. We have demanded stimulus package worth 5 percent of the country&rsquo;s GDP, but the relief measures announced in the budget are just 1.5 percent of GDP,&rdquo; said Agrawal. According to him, the target to raise Rs 225 billion through internal borrowing will result in shortage of liquidity and affect bank interest rates. </span></span></span></span></p>

<p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif"><span style="font-size:15.0pt"><span style="font-family:&quot;Cambria&quot;,serif">Vishnu Agrawal, senior vice president of Confederation of Nepalese Industries (CNI) commented that the budget has failed to incorporate measures to increase the aggregate demand in the market. &ldquo;The scattered relief measures will not be much helpful in the economic recovery,&rdquo; he remarked. Agrawal said that the revenue target of the government is challenging as demand will remain low in the next fiscal year, hence impacting collection of VAT and income taxes. </span></span></span></span></p>

<p>&nbsp;</p>
',
			'published' => true,
			'created' => '2020-05-30',
			'modified' => '2020-05-30',
			'keywords' => '',
			'description' => '',
			'sortorder' => '11841',
			'image' => '20200530032905_photo post budget[6898].jpg',
			'article_date' => '2020-05-30 15:25:01',
			'homepage' => false,
			'breaking_news' => false,
			'main_news' => true,
			'in_scroller' => null,
			'user_id' => '31'
		)
	),
	(int) 12 => array(
		'Article' => array(
			'id' => '12090',
			'article_category_id' => '1',
			'title' => 'Arrangements in Budget Inadequate to Revive Economic Activities: Private Sector',
			'sub_title' => '',
			'summary' => 'The government has dashed the hopes of the country’s private sector that a comprehensive stimulus package will be announced in the Federal Budget for FY2020/21 to kick-start the economic recovery. ',
			'content' => '<h1><span style="font-size:24pt"><span style="font-family:&quot;Times New Roman&quot;,serif"><span style="font-size:15.0pt"><span style="font-family:&quot;Arial&quot;,sans-serif">The government has dashed the hopes of the country&rsquo;s private sector that a comprehensive stimulus package will be announced in the Federal Budget for FY2020/21 to kick-start the economic recovery. Industrialists and businesspersons say that the measures announced in the budget haven&#39;t&nbsp;offered&nbsp;substantial relief to the crisis-stricken private sector and that many of their demands have gone unaddressed. &nbsp;</span></span></span></span></h1>

<h1><span style="font-size:24pt"><span style="font-family:&quot;Times New Roman&quot;,serif"><span style="font-size:15.0pt"><span style="font-family:&quot;Arial&quot;,sans-serif">The government has announced establishment of two refinancing funds totaling Rs 150 billion. As per the arrangements, Nepal Rastra Bank will provide refinancing facility of Rs 100 billion. Separately, a Rs 50 billion refinancing fund will be established with money received from the government, state-owned enterprises. </span></span></span></span></h1>

<h1><span style="font-size:24pt"><span style="font-family:&quot;Times New Roman&quot;,serif"><span style="font-size:15.0pt"><span style="font-family:&quot;Arial&quot;,sans-serif">Both funds will provide concessional loans to businesses to restart their activities and pay salaries to their employees. According to the arrangements in the budget, businesses in agriculture, cottage industries, small and medium enterprises (SMEs), manufacturing industries, hotels and tourism sector enterprises can avail credit from the fund at 5 percent interest rate. </span></span></span></span></h1>

<h1><span style="font-size:24pt"><span style="font-family:&quot;Times New Roman&quot;,serif"><span style="font-size:15.0pt"><span style="font-family:&quot;Arial&quot;,sans-serif">&ldquo;These are only basic&nbsp;reliefs for the private sector. We had suggested the government to bring stimulus package worth 5 percent of the country&rsquo;s GDP. The measures announced in the budget are 4 percent of GDP,&rdquo; Said Bhawani Rana, president of Federation of Nepalese Chamber of Commerce and Industry (FNCCI). &nbsp;&ldquo;There are not many things in the budget to encourage the private sector. However, arrangement for refinancing, programmes to support MSMEs, reduction in demand charge of electricity, income tax concession for tourism sector are positive steps,&rdquo; she added. Rana said that it has become challenging for the crisis-stricken businesses to move ahead in the coming days due to lack of clarity in mobilization of capital and relief packages. </span></span></span></span></h1>

<h1><span style="font-size:24pt"><span style="font-family:&quot;Times New Roman&quot;,serif"><span style="font-size:15.0pt"><span style="font-family:&quot;Arial&quot;,sans-serif">Rajendra Malla, senior vice president of Nepal Chamber of Commerce (NCC) said that the budget is overall positive for the private sector. &ldquo;The increase of budget allocation for public health is very timely. However, the Ministry of Finance has not given its attention to the revenue target and whether or not the government can manage its expenses at present. The revenues sources have shrunken significantly at the moment,&rdquo; he opined. &nbsp;According to Malla, the government, which has prioritised agriculture sector development in the Federal Budget for FY2020/21, has not given preference to internal logistic and transportation due to which production of goods will remain costlier. </span></span></span></span></h1>

<h1><span style="font-size:24pt"><span style="font-family:&quot;Times New Roman&quot;,serif"><span style="font-size:15.0pt"><span style="font-family:&quot;Arial&quot;,sans-serif">Dhruva Thapa, president of Cement Manufacturers&rsquo; Association, Nepal (CMAN) said the the arrangements in the budget are &lsquo;traditional&rsquo; except for the health sector development. He stated continuation of consituency development fund and failure to bring budget on the basis of priority even at this time of crisis as dejected. &ldquo;There are concerns how all industrialists and business persons can avail the refinancing facilities. The success of the government&rsquo;s announcement depends on how the arrangements in the budget are implemented,&rdquo; he said. </span></span></span></span></h1>
',
			'published' => true,
			'created' => '2020-05-29',
			'modified' => '2020-05-29',
			'keywords' => '',
			'description' => '',
			'sortorder' => '11840',
			'image' => '20200529043520_recovery.jpg',
			'article_date' => '2020-05-29 16:33:43',
			'homepage' => false,
			'breaking_news' => false,
			'main_news' => true,
			'in_scroller' => false,
			'user_id' => '31'
		)
	),
	(int) 13 => array(
		'Article' => array(
			'id' => '12089',
			'article_category_id' => '1',
			'title' => 'Govt Aims to Create 800,000 Jobs',
			'sub_title' => '',
			'summary' => 'At a time when unemployment in Nepal has excerberated as a result of sharp increase in the number of Nepalis losing jobs inside and outside the country due to the Covid-19 pandemic, the government has announced new programmes in the Federal Budget for FY2020/21 to create 800,000 jobs. ',
			'content' => '<h1><span style="font-size:24pt"><span style="font-family:&quot;Times New Roman&quot;,serif"><span style="font-size:15.0pt"><span style="font-family:&quot;Arial&quot;,sans-serif">At a time when unemployment in Nepal has excerberated as a result of sharp increase in the number of Nepalis losing jobs inside and outside the country due to the Covid-19 pandemic, the government has announced new programmes in the Federal Budget for FY2020/21 to create 800,000 jobs. Presenting the budget in the House of Representatives, Finance Minister Dr Yuba Raj Khatiwada said that the creation of new jobs has been prioritised in the budget for the upcoming fiscal year estimating that one million Nepalis will lose their jobs within the country while 500,000 will become jobless abroad. Dr Khatiwada mentioned that the programmes in the new budget aim to provide employment opportunities to all Nepalis through dignified jobs, social security and ideal labour relations to increase the labour productivity in the country. </span></span></span></span></h1>

<h1><span style="font-size:24pt"><span style="font-family:&quot;Times New Roman&quot;,serif"><span style="font-size:15.0pt"><span style="font-family:&quot;Arial&quot;,sans-serif">It is estimated that 500,000 Nepalis enter job market every year. The government has predicted that out of 4.79 million people currently in foreign employment, the pandemic-induced crisis has forced about 1.5 million to return to the country. This situation has posed a huge challenge for the government which has so far struggled to generate enough for Nepalis youths. </span></span></span></span></h1>

<p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif"><span style="font-size:15.0pt"><span style="font-family:&quot;Arial&quot;,sans-serif">The Prime Minister Employment Programme (PMEP) will be the biggest government undertaking in employment creation which aims to generate 200,000 jobs. &nbsp;PMEP, which has been implemented in all three levels of the government, will ensure 100-day employment. The budget allocation for the programme for the upcoming fiscal year has been increased to Rs 11.60 billion from Rs 5 billion in the current fiscal year. Similarly, Rs 1 billion has been allocated to conduct handicraft, plumbing, electronics, cook, mansion, tailoring, beautician, barber trainings on federal and central levels to generate 50,000 jobs. Meanwhile, Rs 4.34 billion has been allocated to provide technical trainings to 75,000 individuals. </span></span></span></span></p>

<p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif"><span style="font-size:15.0pt"><span style="font-family:&quot;Arial&quot;,sans-serif">The budget has aimed to generate 40,000 jobs through Small Farmers Credit Programme and 12,000 jobs through Self-employment Loan Programme. Meanwhile, the government has targeted to create 127,000 through micro entrepreneurship programme and an additional 30,000 jobs through programmes based on utilisation of forest resources. &ldquo;32,000 instituions promoted by the Poverty Allevation Fund will transformed into cooperatives to create 150,000 jobs,&rdquo; Finance Minister Dr Khatiwada said. </span></span></span></span></p>

<h1><span style="font-size:24pt"><span style="font-family:&quot;Times New Roman&quot;,serif"><span style="font-size:15.0pt"><span style="font-family:&quot;Arial&quot;,sans-serif">In his budget speech, the finance minister said that local units will run infrastructure development and social programmes and &lsquo;food for work&rsquo; programme targeting people from poor families. Similarly, those who have lost their jobs in the country and foreign returnees will be employed in labour-intensive development works. The government has announced to further tighten to employ foreign workers without obtaining labour permits. Presently, there is an arrangement in this regard, but hundreds of thousands of foreign workers, particularly from India, are working in Nepal without such permits due to lax regulation and monitoring. Economists say that this situation offers big opportunities to Nepal to replace foreign workforce in the country with Nepali workers. Dr Shankar Sharma, former vice chairman of National Planning Commission (NPC) thinks that this will help to enhance skills of Nepali workers which would ultimately make a big difference. &nbsp;</span></span></span></span></h1>
',
			'published' => true,
			'created' => '2020-05-29',
			'modified' => '2020-05-29',
			'keywords' => '',
			'description' => '',
			'sortorder' => '11839',
			'image' => '20200529013427_employment.jpg',
			'article_date' => '2020-05-29 13:32:30',
			'homepage' => false,
			'breaking_news' => false,
			'main_news' => true,
			'in_scroller' => null,
			'user_id' => '31'
		)
	),
	(int) 14 => array(
		'Article' => array(
			'id' => '12088',
			'article_category_id' => '1',
			'title' => 'Irrigation and Agriculture Sector-focused Programmes Get Priority',
			'sub_title' => '',
			'summary' => 'The government has prioritised the agriculture sector development by announcing a slew of programmes in the Federal Budget for FY2020/21.',
			'content' => '<h2><span style="font-size:18pt"><span style="font-family:&quot;Times New Roman&quot;,serif"><span style="font-size:16.0pt"><span style="font-family:&quot;Arial&quot;,sans-serif">The government has prioritised the agriculture sector development by announcing a slew of programmes in the Federal Budget for FY2020/21. Presenting the budget in the House of Representatives, Dr Yuba Raj Khatiwada said that Rs 41 billion has been allocated for promoting agricultural products and Rs 27 billion for irrigation infrastructure development. </span></span></span></span></h2>

<h2><span style="font-size:18pt"><span style="font-family:&quot;Times New Roman&quot;,serif"><span style="font-size:16.0pt"><span style="font-family:&quot;Arial&quot;,sans-serif">The programmes announced for agriculture sector development include facilitation of contract and land pooling, establishment of 78 wholesale markets for agriculture produce across covering all seven provinces, cash subsidy to farmers for improvised seed production, installation of weather radars, formation of land banks at 300 locations across the country, international promotion and branding of Nepali coffee, major herbs and other cash crops, launching of farmers credit card, setting up of standard food testing lab one each in Gandaki and Karnali provinces and setting up of well-facilitated animal quarantine labs at all major border customs across the country. Similarly, Rs 11 billion has been allocated in the budget for supply and distribution of chemical fertilisers, while Rs 950 million has been allocated for promotion of sugarcane cultivation. Likewise, Rs 3.22 billion has been allocated to run &lsquo;One Local Level, One Pocket Product&rsquo; programme. </span></span></span></span></h2>

<h2><span style="font-size:18pt"><span style="font-family:&quot;Times New Roman&quot;,serif"><span style="font-size:16.0pt"><span style="font-family:&quot;Arial&quot;,sans-serif">Meanwhile, the government has announced to promote shallow water irrigation system with a view to expand irrigation to additional 22,000 hectares of land across the country. Finance Minister Dr Khatiwada also said that the construction of the proposed Mahakali Irrigation Project will move ahead as a national pride project. </span></span></span></span></h2>

<p>&nbsp;</p>
',
			'published' => true,
			'created' => '2020-05-28',
			'modified' => '2020-05-28',
			'keywords' => '',
			'description' => '',
			'sortorder' => '11838',
			'image' => '20200528075055_irrigation.jpg',
			'article_date' => '2020-05-28 19:47:42',
			'homepage' => false,
			'breaking_news' => false,
			'main_news' => true,
			'in_scroller' => null,
			'user_id' => '31'
		)
	)
)
$current_user = null
$logged_in = false
$xml = false
simplexml_load_file - [internal], line ??
include - APP/View/Elements/side_bar.ctp, line 133
View::_evaluate() - CORE/Cake/View/View.php, line 971
View::_render() - CORE/Cake/View/View.php, line 933
View::_renderElement() - CORE/Cake/View/View.php, line 1224
View::element() - CORE/Cake/View/View.php, line 418
include - APP/View/Articles/index.ctp, line 157
View::_evaluate() - CORE/Cake/View/View.php, line 971
View::_render() - CORE/Cake/View/View.php, line 933
View::render() - CORE/Cake/View/View.php, line 473
Controller::render() - CORE/Cake/Controller/Controller.php, line 968
Dispatcher::_invoke() - CORE/Cake/Routing/Dispatcher.php, line 200
Dispatcher::dispatch() - CORE/Cake/Routing/Dispatcher.php, line 167
[main] - APP/webroot/index.php, line 117

file not found!

Latest

173 People Die in Disaster Incidents since June 10

Crusher Federation Urges PM Oli for Industry Renewal

Prime Minister Calls for Enhancing 'Hello Sarkar' Service

Bardiya National Park Sees Increase in Tourist Arrivals

Experts, Manpower Agencies at Odds Over Draft of Labour Migration Policy

Lower Seti Hydropower Project Acquires o500 Ropanis of Land

Government Proposes Formation of New Authority to Regulate Cooperatives

Sugar Prices Surge ahead of Festive Season amid Govt’s Failure to Import Sugar

BFIN to Host Conference in Kathmandu on Wednesday

Price of Gold Reaches All-Time High in Nepal

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