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			'id' => '11949',
			'article_category_id' => '1',
			'title' => 'Private Sector Employers ‘Not in a Condition’ to Pay Full Salary to Workers',
			'sub_title' => 'The law does not allow the companies from pay cuts just because their business have been affected for a few months. ',
			'summary' => 'April 19: Most of the industries and enterprises have stopped operation since the government imposed a lockdown on March 24 to prevent coronavirus from spreading. ',
			'content' => '<p><span style="font-size:20px"><span style="font-family:Times"><span style="font-family:&quot;Arial Unicode MS&quot;">April 19: Most of the industries and enterprises have stopped operation since the government imposed a lockdown on March 24 to prevent coronavirus from spreading. Private businesses as well as government office have remained shut due to the current crisis. </span></span></span></p>

<p><span style="font-size:20px"><span style="font-family:Times"><span style="font-family:&quot;Arial Unicode MS&quot;">In the first phase of relief announced by the government, it had clearly instructed the employers of the private sector to pay the salary of Chaitra (mid-March to mid-April) to the workers. However, the employers say have not been able to pay the salary of their staffers due to the extension of lockdown, which has affected their business. </span></span></span></p>

<p><span style="font-size:20px"><span style="font-family:Times"><span style="font-family:&quot;Arial Unicode MS&quot;">Umbrella organisations of the private sector are currently discussing how to address this problem. They are expected to come up with a solution by today (April 19).</span></span></span></p>

<p><span style="font-size:20px"><span style="font-family:Times"><span style="font-family:&quot;Arial Unicode MS&quot;">However, the credibility of established companies have been put into question for their reluctance to pay the staffers at time of crisis. The law does not allow the companies from pay cuts just because their business have been affected for a few months. But the companies are considering paying certain amount of salary instead of full pay, arguing that their business have come to a complete halt.</span></span></span></p>

<p><span style="font-size:20px"><span style="font-family:Times"><span style="font-family:&quot;Arial Unicode MS&quot;">Government employees get paid even if their office is opened or not. But the private sector employers argue that they can pay only by generating income. They say it is natural for them to struggle to pay the workers at a time when their businesses have come to a grinding halt.</span></span></span></p>

<p><span style="font-size:20px"><span style="font-family:Times"><span style="font-family:&quot;Arial Unicode MS&quot;">The Federation of Nepalese Chambers of Commerce and Industry, Confederation of Nepalese Industries and Nepal Chamber of Commerce are weighing various options regarding payment of workers. The umbrella bodies of the private sector have been discussing this issue since a week and are expected to finalize the modality of payment by Sunday (April 19).</span></span></span></p>

<p><span style="font-size:20px"><span style="font-family:Times"><span style="font-family:&quot;Arial Unicode MS&quot;">Vice President of NCC Rajendra Malla said that none of the businesses and industries are currently in a position to pay full salary to their staffers.</span></span></span></p>

<p><span style="font-size:20px"><span style="font-family:Times"><span style="font-family:&quot;Arial Unicode MS&quot;">&ldquo;We have tentatively decided to deduct the salary of workers depending on their pay. Those who earn low salary will see less deduction while those who make good income will be dealth accordingly,&rdquo; said Malla.</span></span></span></p>

<p>&nbsp;</p>
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			'sortorder' => '11699',
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			'id' => '11948',
			'article_category_id' => '1',
			'title' => 'No Penalty on Electricity Tariffs if Dues Cleared by May 20',
			'sub_title' => '',
			'summary' => 'April 19: The government has said that no one will be obliged to pay penalty on electricity tariffs if the consumers clear the dues of previous three months by May 20.   ',
			'content' => '<p><span style="font-size:20px"><span style="font-family:Cambria"><span style="font-family:&quot;Arial Unicode MS&quot;">April 19: The government has said that no one will be obliged to pay penalty on electricity tariffs if the consumers clear the dues of previous three months by May 20.&nbsp;&nbsp;&nbsp;&nbsp; </span><br />
<span style="font-family:&quot;Arial Unicode MS&quot;">Executive Director of Nepal Electricity Authority (NEA) Kulman Ghising said that a cabinet meeting held recently decided to waive off the penalty of previous three months if they pay the tariffs within the given date. The deadline could again be extended if the current lockdown order is extended to fight against COVID-19.&nbsp;&nbsp;&nbsp;&nbsp; </span><br />
<span style="font-family:&quot;Arial Unicode MS&quot;">To implement the cabinet decision taken on March 29, a meeting of the Board of Directors of NEA presided over by Energy Minister Barsha Man Pun took a decision to waive off the penalty.&nbsp;&nbsp;&nbsp;&nbsp; </span><br />
<span style="font-family:&quot;Arial Unicode MS&quot;">Minister Pun has also urged the public to clear the dues through online system and help in financial risk reduction of the NEA. </span><br />
<span style="font-family:&quot;Arial Unicode MS&quot;">Likewise, the NEA has decided to exempt two percent if the tariff of previous two months is cleared by May 19.&nbsp; -- RSS </span></span></span></p>
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			'id' => '11947',
			'article_category_id' => '1',
			'title' => 'One More Tests Positive in Udayapur ',
			'sub_title' => '',
			'summary' => 'April 19: The number of people infected with COVID-19 has reached 31 in Nepal.',
			'content' => '<p><span style="font-size:20px"><span style="font-family:Cambria">April 19: <span style="font-family:&quot;Arial Unicode MS&quot;">The number of people infected with COVID-19 has reached 31 in Nepal. One more person living in a mosque in Udayapur has tested positive, taking the total confirmed cases to 31, said Director of the Epidemiology and Communicable Disease Control Division Dr Basudev Pandey.&nbsp;&nbsp;&nbsp;&nbsp; </span><br />
<span style="font-family:&quot;Arial Unicode MS&quot;">It may be noted that 12 persons, all Indian nationals, living in the Udayapur mosque had tested positive on Friday. This takes the number of positive case to 13 in the mosque alone. The latest is a man of 65 years old. His nationality is not yet known.&nbsp;&nbsp;&nbsp;&nbsp; </span><br />
<span style="font-family:&quot;Arial Unicode MS&quot;">The latest case was confirmed at the Koshi Hospital, joint spokesperson at the Ministry of Health and Population Dr Sameer Adhikari said. Contact tracing of the infected ones has already begun. -- RSS</span></span></span></p>
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			'sortorder' => '11697',
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			'id' => '11946',
			'article_category_id' => '1',
			'title' => 'Hotel Industry Faces Loss of Rs 9 Billion ',
			'sub_title' => '',
			'summary' => 'April 17: The hotel industry of Nepal of Nepal has recorded loss of more than Rs 9 billion in the last three months due to the coronavirus pandemic. ',
			'content' => '<p><span style="font-size:20px"><span style="font-family:Times"><span style="font-family:Arial">April 17: The hotel industry of Nepal of Nepal has recorded loss of more than Rs 9 billion in the last three months due to the coronavirus pandemic. This sector has been the worst hit by the crisis, which emerged in late December last year from China and has now spread to 210 countries across the globe.</span></span></span></p>

<p><span style="font-size:20px"><span style="font-family:Times"><span style="font-family:Arial">&nbsp;Hotel entrepreneurs say that they had to bear the loss due to the cancellation of bookings as the number of tourists arriving in Nepal started decline with the growing impact of the pandemic. </span></span></span></p>

<p><span style="font-size:20px"><span style="font-family:Times"><span style="font-family:Arial">The hotel industry of Nepal witnessed large number of booking cancellation between January to March, which is considered the peak season for tourism.</span></span></span></p>

<p><span style="font-size:20px"><span style="font-family:Times"><span style="font-family:Arial">A preliminary study conducted by the Hotel Association of Nepal, the umbrella body of hotel entrepreneurs in the country, states that the hotel industry has been badly affected by the lack of tourists due to the coronavirus crisis and the subsequent lockdown imposed by the governments across the world, including Nepal.</span></span></span></p>

<p><span style="font-size:20px"><span style="font-family:Times"><span style="font-family:Arial">The hotel industry had invested heavily in the recent past as the country prepared to welcome a large number of tourists during the Visit Nepal 2020 campaign. New star-rated hotels in the capital and outside were emerging, targeting the government campaign. </span></span></span></p>

<p><span style="font-size:20px"><span style="font-family:Times"><span style="font-family:Arial">Kathmandu Marriott by MS Group, Vivanta by Chaudhary Group, Akama Hotel by Sanima Group are already in operation. Similarly, Hilton Hotel by Shanker Group and Sheraton Hotel by Non- Resident Nepali Association (NRNA) are under construction. </span></span></span></p>

<p><span style="font-size:20px"><span style="font-family:Times"><span style="font-family:Arial">Likewise, the existing hotels had also upgraded their services keeping in mind the VNY 2020 campaign.</span></span></span></p>

<p><span style="font-size:20px"><span style="font-family:Times"><span style="font-family:Arial">But the crisis of coronavirus came out of the blue at a time when this sector was witnessing heavy investment.</span></span></span></p>

<p><span style="font-size:20px"><span style="font-family:Times"><span style="font-family:Arial">According to the hotel entrepreneurs, this situation is more challenging than the 10-year Maoist insurgency, earthquake of 2015 and the economic blockade imposed by India. </span></span></span></p>

<p><span style="font-size:20px"><span style="font-family:Times"><span style="font-family:Arial">Managing fixed cost like employee&rsquo;s &nbsp;salary and payment of bank loan despite the zero arrival of tourists has been one of the biggest challenges for the hotel sector. The entrepreneurs say that uncertainty on the normalcy have made them more worried. </span></span></span></p>

<p><span style="font-size:20px"><span style="font-family:Times"><span style="font-family:Arial">According to Pravin Bahadur Pandey, executive director of Shangri-la hotel, it may take around one year to get back to normal business even after the outbreak comes under control. </span></span></span></p>

<p><span style="font-size:20px"><span style="font-family:Times"><span style="font-family:Arial">The entrepreneurs say that five-star hotels have been bearing loss of around Rs 100 million every month. </span></span></span></p>

<p><span style="font-size:20px"><span style="font-family:Times"><span style="font-family:Arial">&ldquo;We are facing loss of around Rs 100 million per month,&rdquo; said Pandey.&nbsp; </span></span></span></p>

<p><span style="font-size:20px"><span style="font-family:Times"><span style="font-family:Arial">Also, refunding of the bookings is another challenge entrepreneurs are currently facing.&nbsp; </span></span></span></p>

<p><span style="font-size:20px"><span style="font-family:Times"><span style="font-family:Arial">&ldquo;We need to refund 100 percent for the bookings made for September and October, which is the peak tourism season,&rdquo; said the entrepreneurs. </span></span></span></p>

<p><span style="font-size:20px"><span style="font-family:Times"><span style="font-family:Arial">Shashikant Agarwal of Marriott Hotel said that although all the hotel are facing problems, the ones which have taken high amount of loan targeting the Visit Nepal Year 2020 for infrastructure development are in trouble.</span></span></span></p>

<p><span style="font-size:20px"><span style="font-family:Times"><span style="font-family:Arial">Similarly, Binayak Shah, vice-president of HAN, said that the government should bring a concrete plan to revive the tourism sector in Nepal. </span></span></span></p>

<p><span style="font-size:20px"><span style="font-family:Times"><span style="font-family:Arial">According to HAN, government needs to give one year&rsquo;s time to pay the interest on loan, provide them subsidized loan, arrange relief for rent of six months and manage the payroll of one million employees and workers. </span></span></span></p>

<p><span style="font-size:20px"><span style="font-family:Times"><span style="font-family:Arial">Similarly, Agarwal of Marriott said that as it will take time to bounce back from the crisis, the government should address the concerns of &nbsp;the hotel and tourism sectors.</span></span></span></p>

<p><span style="font-size:20px"><span style="font-family:Times">&nbsp;</span></span></p>

<p>&nbsp;</p>
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			'id' => '11944',
			'article_category_id' => '1',
			'title' => 'Lockdown Prevents 2 Companies from Issuing IPOs ',
			'sub_title' => '',
			'summary' => 'April 17: Two companies that had acquired permission to issue the Initial Public Offering (IPO) have not been able to issue them due to the extension of the lockdown imposed to contain the spread of coronavirus. ',
			'content' => '<p><span style="font-size:20px"><span style="font-family:Times"><span style="font-family:&quot;Arial Unicode MS&quot;">April 17: Two companies that had acquired permission to issue the Initial Public Offering (IPO) have not been able to issue them due to the extension of the lockdown imposed to contain the spread of coronavirus. </span></span></span></p>

<p><span style="font-size:20px"><span style="font-family:Times"><span style="font-family:&quot;Arial Unicode MS&quot;">NRN Infrastructure and Development Limited, a company promoted by the Non&nbsp; Residential Nepalis (NRNs) and NIC Asia Microfinance Company have not been able to issue their IPO due to the ongoing lockdown. </span></span></span></p>

<p><span style="font-size:20px"><span style="font-family:Times"><span style="font-family:&quot;Arial Unicode MS&quot;">Sanima Capital, which has been assigned to issue the IPOs of both the companies, has not been able to do so owing to the current crisis.</span></span></span></p>

<p><span style="font-size:20px"><span style="font-family:Times"><span style="font-family:&quot;Arial Unicode MS&quot;">Mandeep Luitel, investment banking chief of Sanima Capital, confirmed that the company has not been able to issue the IPOs because of the lockdown. According to him, NRN Infrastructure and Development Limited was due to issue the IPOs on April 10 while NIC Asia Microfinance was scheduled to issue the IPOs on April 14. But the process has been halted.</span></span></span></p>

<p><span style="font-size:20px"><span style="font-family:Times"><span style="font-family:&quot;Arial Unicode MS&quot;">The Securities Board of Nepal (SEBON) had approved the issuance of 33,98,046 units of IPO of NRN Infrastructure and Development Limited. The issued capital of the company is Rs 1.13 billion, out of which 30 percent share was to be opened for the general public. </span></span></span></p>

<p><span style="font-size:20px"><span style="font-family:Times"><span style="font-family:&quot;Arial Unicode MS&quot;">Likewise, NIC Asia Microfinance was set to issue IPOs worth Rs 470 million. Both the companies had received the approval more than a month ago.</span></span></span></p>

<p>&nbsp;</p>

<p>&nbsp;</p>
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			'sortorder' => '11695',
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			'id' => '11943',
			'article_category_id' => '1',
			'title' => 'Insurance Board Directs Stakeholders to Issue COVID-19 Insurance Coverage   ',
			'sub_title' => '',
			'summary' => 'April 17: The Insurance Board has directed all stakeholder companies to issue coronavirus insurance scheme amid rising threats from the coronavirus pandemic.   ',
			'content' => '<p><span style="font-size:20px"><span style="font-family:Cambria"><span style="font-family:Arial">April 17: The Insurance Board has directed all stakeholder companies to issue coronavirus insurance scheme amid rising threats from the coronavirus pandemic.&nbsp;&nbsp; </span></span></span></p>

<p><span style="font-size:20px"><span style="font-family:Cambria"><span style="font-family:Arial">Till date, none of the insurance companies have any scheme to cover the risk of coronavirus. </span></span></span></p>

<p><span style="font-size:20px"><span style="font-family:Cambria"><span style="font-family:Arial">The Insurance Board issued a circular on Thursday stating that the new insurance policy will be categorized into two groups.</span></span></span></p>

<p><span style="font-size:20px"><span style="font-family:Cambria"><span style="font-family:Arial">In the first category, any person availing the insurance policy has to pay a premium of Rs 1000 for coverage up to Rs 100,000. Likewise, the insurance premium charge has been set up at Rs 600 if all members of the family subscribe to the insurance scheme.</span></span></span></p>

<p><span style="font-size:20px"><span style="font-family:Cambria"><span style="font-family:Arial">In the second category, the board has introduced another insurance scheme worth Rs 50,000 per person. To register for the scheme, an individual has to pay a premium of Rs 500 per person or Rs 300 for each member of the family.</span></span></span></p>

<p><span style="font-size:20px"><span style="font-family:Cambria"><span style="font-family:Arial">The scheme aims to cover people with low income affected by COVID-19, according to the board&rsquo;s executive director Raju Raman Poudel. </span></span></span></p>

<p><span style="font-size:20px"><span style="font-family:Cambria"><span style="font-family:Arial">&ldquo;Our aim is to provide insurance facility to people from low income grout. Therefore, this scheme has to be available in every village,&rdquo; Poudel told New Business Age.</span></span></span></p>

<p><span style="font-size:20px"><img alt="" src="/app/webroot/userfiles/images/insurence_notice.jpg" style="height:1554px; width:1216px" /></span></p>

<p>&nbsp;</p>

<p>&nbsp;</p>
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			'id' => '11942',
			'article_category_id' => '1',
			'title' => 'Supreme Court Orders Government to Rescue Migrant Workers at Risk ',
			'sub_title' => '',
			'summary' => 'April 17: The Supreme Court has issued an interim order in the name of the government to rescue Nepali citizens living in vulnerable condition in foreign countries.',
			'content' => '<p><em>Flowers blooming on the premises of the Supreme Court in this recent picture. Photo Courtesy: Rss</em></p>

<p><span style="font-size:20px"><span style="font-family:Cambria"><span style="font-family:&quot;Arial Unicode MS&quot;">April 17: The Supreme Court has issued an interim order in the name of the government to rescue Nepali citizens living in vulnerable condition in foreign countries, the state-run national news agency RSS reported. </span></span></span></p>

<p><span style="font-size:20px"><span style="font-family:Cambria"><span style="font-family:&quot;Arial Unicode MS&quot;">According to RSS, a single bench of Justice Sapana Pradhan Malla on Thursday (April 16) directed the government to rescue the migrant workers.&nbsp;&nbsp;&nbsp;&nbsp; </span><br />
<span style="font-family:&quot;Arial Unicode MS&quot;">The apex court reportedly also asked the government to immediately prepare a report on the health status of the Nepali migrant workers in different countries hit by the COVID-19 pandemic. </span></span></span></p>

<p><span style="font-size:20px"><span style="font-family:Cambria"><span style="font-family:&quot;Arial Unicode MS&quot;">&quot;No matter where Nepalis are it is the duty of a legitimate government to address their health, security and other needs,&quot; RSS reported citing the order.&nbsp;&nbsp;&nbsp;&nbsp; </span><br />
<span style="font-family:&quot;Arial Unicode MS&quot;">The state cannot ignore a situation where the Nepali migrant workers, who have a significant contribution to the country&#39;s economy, lie in a very poor, unsafe and unhealthy situation after losing their job, reads the order. </span></span></span></p>

<p><span style="font-size:20px"><span style="font-family:Cambria"><span style="font-family:&quot;Arial Unicode MS&quot;">The bench further said that immediate and effective additional measures are warranted in the case of the citizens in foreign employment in the present situation of global crisis.&nbsp;&nbsp;&nbsp;&nbsp; </span><br />
<span style="font-family:&quot;Arial Unicode MS&quot;">The order comes in response to a writ petition filed on Wednesday by advocate Som Prasad Luintel, seeking court intervention to save the Nepali migrant workers from the possible risk of coronavirus. </span></span></span></p>
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			'article_category_id' => '1',
			'title' => 'No Case Filed against Sulav Agarwal at DAO yet',
			'sub_title' => '',
			'summary' => 'April 17: No case has yet been filed against Sulav Agrawal, director of Shankar Group, even though he was arrested more than a week ago for misusing his diplomatic number plate car for black marketing of infrared thermometers.',
			'content' => '<h1><span style="font-size:20px"><span style="font-family:&quot;Times New Roman&quot;">April 17: No case has yet been filed against Sulav Agrawal, director of Shankar Group, even though he was arrested more than a week ago for misusing his diplomatic number plate car for black marketing of infrared thermometers.</span></span></h1>

<h1><span style="font-size:20px"><span style="font-family:&quot;Times New Roman&quot;">The Metropolitan Police Range, Kathmandu has already submitted an investigation report to the District Attorney&rsquo;s Office, Kathmandu. The report suggests the government to punish Agrawal for misusing his diplomatic privilege despite, a police source informed New Business Age.</span></span></h1>

<h1><span style="font-size:20px"><span style="font-family:&quot;Times New Roman&quot;">However, no charge has been filed against Agarwal at the District Administration Office at a time when the courts are closed.</span></span></h1>

<h1><span style="font-size:20px"><span style="font-family:&quot;Times New Roman&quot;">Agrawal was arrested by an undercover team of the Metropolitan Crime Division of Nepal Police from Baluwatar on April 7 for attempting to sell the thermal guns at inflated price by misusing his diplomatic privilege. He was arrested red-handed from the car with diplomatic number plate.</span></span></h1>

<h1><span style="font-size:20px"><span style="font-family:&quot;Times New Roman&quot;">The District Administration Office had remanded Agarwal in custody for 12 days for investigation. The detention period is expiring on Saturday, April 18.</span></span></h1>

<h1><span style="font-size:20px"><span style="font-family:&quot;Times New Roman&quot;">Advocate of the District Attorney&rsquo;s Office, Shrijan Dhakal, informed New Business Age that the case has not yet been registered in the DAO because the investigation has not concluded.</span></span></h1>

<h1><span style="font-size:20px"><span style="font-family:&quot;Times New Roman&quot;">The police can keep an accused in custody for a maximum of 25 days in accordance to the law.</span></span></h1>

<h1>&nbsp;</h1>

<h1>&nbsp;</h1>

<h1>&nbsp;</h1>
',
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	(int) 8 => array(
		'Article' => array(
			'id' => '11941',
			'article_category_id' => '1',
			'title' => 'NAC Aircraft with Medical Supplies Arrive from Guangzhou ',
			'sub_title' => '',
			'summary' => 'April 17: Two wide-body A-330 aircraft of Nepal Airlines Corporation have landed in Kathmandu with essential medical supplies for the fight against COVID-19.          ',
			'content' => '<p><span style="font-size:20px"><span style="font-family:Cambria"><span style="font-family:&quot;Arial Unicode MS&quot;">April 17: Two wide-body A-330 aircraft of Nepal Airlines Corporation have landed in Kathmandu with essential medical supplies for the fight against COVID-19.&nbsp;&nbsp;&nbsp;&nbsp; </span></span></span></p>

<p><span style="font-size:20px"><span style="font-family:Cambria"><span style="font-family:&quot;Arial Unicode MS&quot;">A source at the Tribhuvan International Airport said the two chartered aircraft landed at the airport on Friday morning. The quantity and type of medical supplies that have been brought from Guangzhou are yet to be known</span></span></span></p>

<p><span style="font-size:20px"><span style="font-family:Cambria"><span style="font-family:&quot;Arial Unicode MS&quot;">The aircraft of the national flag-carrier NAC had flown to China&rsquo;s Guangzhou on Thursday night to bring the medical kits and supplies. Two business groups had chartered the aircraft. Medical supplies were brought from Guangzhou on March 29 and April 2 as well. --RSS </span></span></span></p>
',
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			'article_date' => '2020-04-17 09:39:19',
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	(int) 9 => array(
		'Article' => array(
			'id' => '11939',
			'article_category_id' => '1',
			'title' => 'IMF Warns of “Great Recession”',
			'sub_title' => '',
			'summary' => 'April 16: The International Monetary Fund (IMF) has warned of great recession in a century and a dire outlook for the world economy ravaged by coronavirus in its latest report.',
			'content' => '<p><span style="font-size:20px"><span style="font-family:Times"><span style="font-family:Arial">April 16: The International Monetary Fund (IMF) has warned of great recession in a century and a dire outlook for the world economy ravaged by coronavirus in its latest report.</span></span></span></p>

<p><span style="font-size:20px"><span style="font-family:Times"><span style="font-family:Arial">According to Aljazeera, the World Economic Outlook released by the IMF on Tuesday paints a bleak picture of world economy and the manifold financial challenges facing low-income countries.</span></span></span></p>

<p><span style="font-size:20px"><span style="font-family:Cambria"><span style="font-family:Arial">The IMF said that the world economy&rsquo;s contraction and recovery would be worse than anticipated if the coronavirus lingers, Bloomberg reported.</span></span></span></p>

<p><span style="font-size:20px"><span style="font-family:Cambria"><span style="font-family:Arial">&quot;For low-income countries, the challenges of this crisis are manifold,&quot; IMF Chief Economist Geeta Gopinath reportedly said at a video conference briefing where she presented the report. &quot;They have to deal with health crises with health systems that are just not as strong.&quot;</span></span></span></p>

<p><span style="font-size:20px"><span style="font-family:Times"><span style="font-family:Arial">Titled The Great Lockdown, the IMF&#39;s latest report on the global economy described the coronavirus pandemic as a crisis &quot;like no other&quot; and predicted that world economic output will shrink by three percent this year, before experiencing a partial rebound next year.</span></span></span></p>

<p><span style="font-size:20px"><span style="font-family:Times"><span style="font-family:Arial">&quot;It is very likely that this year, the global economy will experience its worst recession since the Great Depression, surpassing that seen during the financial crisis a decade ago,&quot; Aljazeera quoted IMF Chief Economist Gita Gopinath as saying.</span></span></span></p>

<p><span style="font-size:20px"><span style="font-family:Times"><span style="font-family:Arial">IMF warned that there is extreme uncertainty around the global growth forecast. The economic fallout depends on factors that interact in ways that are hard to predict, the report said citing the pathway of the pandemic, the efficacy of containment measures, the intensity of supply chain disruptions, credit market freezes, commodity price impacts and changes in consumer behaviour.</span></span></span></p>

<p><span style="font-size:20px"><span style="font-family:Times"><span style="font-family:Arial">Under the IMF&rsquo;s best-case scenario, the world is likely to lose a cumulative $9 trillion in output over two years - greater than the combined gross domestic product (GDP) of Germany and Japan, said Gopinath.</span></span></span></p>

<p><span style="font-size:20px"><span style="font-family:Times"><span style="font-family:Arial">The IMF&#39;s forecasts assume that outbreaks of the novel coronavirus will peak in most countries during the second quarter and fade in the second half of the year, with business closures and other containment measures gradually unwound.</span></span></span></p>

<p><span style="font-size:20px"><span style="font-family:Times"><span style="font-family:Arial">A longer pandemic that lasts through the third quarter could cause a further three percent contraction in 2020 and a slower recovery in 2021, due to the &quot;scarring&quot; effects of bankruptcies and prolonged unemployment, the report said.</span></span></span></p>

<p><span style="font-size:20px"><span style="font-family:Cambria"><span style="font-family:Arial">Aljazeera further reported citing the IMF that emerging and developing economies face a litany of challenges from the coronavirus pandemic, ranging from underfunded healthcare systems and burdensome debt loads to high rates of unemployment. </span></span></span></p>

<p><span style="font-size:20px"><span style="font-family:Cambria"><span style="font-family:Arial">The report said that developing economies that are highly dependent on tourism will be hit particularly hard, while low-income countries where large portions of the working population depend on daily wages to survive require immediate intervention.</span></span></span></p>

<p><span style="font-size:20px"><span style="font-family:Cambria"><span style="font-family:Arial">&quot;It is important to do whatever it takes and that includes cash transfers, digital payment systems to reach those working for daily wages,&quot; Gopinath stressed.</span></span></span></p>

<p><span style="font-size:20px"><span style="font-family:Cambria"><span style="font-family:Arial">For low-income countries with high levels of debt, Gopinath stressed the importance for creditors to stand up and provide debt relief.</span></span></span></p>

<p><span style="font-size:20px"><span style="font-family:Cambria"><span style="font-family:Arial">&quot;This crisis is a truly exogenous shock,&quot; she said.</span></span></span></p>

<p>&nbsp;</p>
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	(int) 10 => array(
		'Article' => array(
			'id' => '11940',
			'article_category_id' => '1',
			'title' => 'Government Facing Mounting Challenges for Resource Management ',
			'sub_title' => '',
			'summary' => 'April 16: The government has decided to utilize the funds allocated under various headings to combat the current crisis of coronavirus pandemic. ',
			'content' => '<h1><span style="font-size:20px"><span style="font-family:&quot;Times New Roman&quot;">April 16: The government has decided to utilize the funds allocated under various headings to combat the current crisis of coronavirus pandemic. </span></span></h1>

<h1><span style="font-size:20px"><span style="font-family:&quot;Times New Roman&quot;">The government decided to mobilize internal resources as revenue collection has been shrinking due to the lockdown, which has created mounting challenges for resource management.</span></span></h1>

<h1><span style="font-size:20px"><span style="font-family:&quot;Times New Roman&quot;">In order to prevent the scarcity of resources, the government is preparing to utilize a budget of Rs 16 billion allocated for Nepal Telecom, Rs 3 billion for New Nepal Construction Fund and Disaster Relief Fund respectively.</span></span></h1>

<h1><span style="font-size:20px"><span style="font-family:&quot;Times New Roman&quot;">Deepak Subedi, secretary at the Ministry of Communication and Information Technology informed New Business Age that the Minister for Finance presented a proposal of utilizing various funds to the cabinet meeting on Tuesday. </span></span></h1>

<h1><span style="font-size:20px"><span style="font-family:&quot;Times New Roman&quot;">Minister for Finance Dr Yuba Raj Khatiwada during the cabinet meeting held on Tuesday, made such proposal &nbsp;due to the shrinking revenue collection.&nbsp;&nbsp; &nbsp;&nbsp;&nbsp;</span></span></h1>

<h1><span style="font-size:20px"><span style="font-family:&quot;Times New Roman&quot;">&quot;However, a decision on the proposal has been delayed because the chief secretary is yet to approve it. The media will be informed about the decision by tomorrow (Thursday),&quot; Subedi said.</span></span></h1>

<h1>&nbsp;</h1>

<h1>&nbsp;</h1>

<h1>&nbsp;</h1>

<h1>&nbsp;</h1>

<h1>&nbsp;</h1>

<h1>&nbsp;</h1>

<h1>&nbsp;</h1>

<h1>&nbsp;</h1>

<h1>&nbsp;</h1>

<h1>&nbsp;</h1>

<h1>&nbsp;</h1>

<h1>&nbsp;</h1>

<h1>&nbsp;</h1>

<h1>&nbsp;</h1>
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		'Article' => array(
			'id' => '11937',
			'article_category_id' => '1',
			'title' => 'Business Community Discussing Ways to Pay Workers',
			'sub_title' => '',
			'summary' => 'April 16: The business community of Nepal has taken initiative to find ways for addressing the issue of workers’ payment in the context of coronavirus pandemic causing disruption to all economic activities.',
			'content' => '<p><span style="font-size:20px"><span style="font-family:Times"><span style="font-family:&quot;Arial Unicode MS&quot;">April 16: The business community of Nepal has taken initiative to find ways for addressing the issue of workers&rsquo; payment in the context of coronavirus pandemic causing disruption to all economic activities.</span></span></span></p>

<p><span style="font-size:20px"><span style="font-family:Times"><span style="font-family:&quot;Arial Unicode MS&quot;">Participants of a meeting organised by the Employers Council of the Federation of Nepalese Chambers of Commerce and Industry (FNCCI) agreed to decide on the payment of workers within a week and hold discussion in this regard with the government and the respective trade unions. Confederation of Nepalese Industries, Nepal Chamber of Commerce and Hotel Association of Nepal had participated in the meeting held on Tuesday.</span></span></span></p>

<p><span style="font-size:20px"><span style="font-family:Times"><span style="font-family:&quot;Arial Unicode MS&quot;">FNCCI President Bhavani Rana informed about the latest steps taken by the umbrella body to address the problems of paying the workers&rsquo; wages during a video conference organised by the Society of Economic Journalists of Nepal ( SEJON) on Wednesday.</span></span></span></p>

<p><span style="font-size:20px"><span style="font-family:Times"><span style="font-family:&quot;Arial Unicode MS&quot;">According to General Federation of Nepalese Trade Unions (GEFONT), there are altogether 3 to 3.5 million workers in the formal and informal sectors in the country. Hotel Association of Nepal informed that around 1 million people are employed by the hotel industry alone.</span></span></span></p>

<p><span style="font-size:20px"><span style="font-family:Times"><span style="font-family:&quot;Arial Unicode MS&quot;">Operation of most of the industries in the country have come to a standstill due to the fear of coronavirus while the hotel and tourism industries and the aviation sector have been badly affected by the pandemic.</span></span></span></p>

<p><span style="font-size:20px"><span style="font-family:Times"><span style="font-family:&quot;Arial Unicode MS&quot;">This has raised the question of pay-cuts by the employers. The domestic airline companies have already decided to hold the salary of their staffers, instructing some employees to take unpaid leave. Some have decided to pay half the salary during lockdown.</span></span></span></p>

<p><span style="font-size:20px"><span style="font-family:Times"><span style="font-family:&quot;Arial Unicode MS&quot;">The umbrella bodies of the private sector are in talks with the trade unions regarding the salary of the workers.</span></span></span></p>

<p><span style="font-size:20px"><span style="font-family:Times"><span style="font-family:&quot;Arial Unicode MS&quot;">Chairman of GEFONT Binod Shrestha informed New Business Age that they held discussions with the employers&rsquo; umbrella bodies a few days ago regarding payment of the workers. For the time being, both sides have agreed that the salary would be distributed in such a way that both the workers and the employers would not be overburdened by the decision, said Shrestha.</span></span></span></p>

<p><span style="font-size:20px"><span style="font-family:Times"><span style="font-family:&quot;Arial Unicode MS&quot;">During the meeting, some stakeholders reportedly expressed their inability to pay the workers from this month onward.</span></span></span></p>

<p><span style="font-size:20px"><span style="font-family:Times"><span style="font-family:&quot;Arial Unicode MS&quot;">Tuesday&rsquo;s meeting also decided to form a committee comprising of vice presidents of all the three umbrella bodies to prepare a report and present it to the government, informed Chandra Dhakal, vice president of FNCCI.</span></span></span></p>

<p><span style="font-size:20px"><span style="font-family:Times"><span style="font-family:&quot;Arial Unicode MS&quot;">Meanwhile, HAN has clearly stated that the hotel industry alone cannot pay the salaries of the staffers and the government must support them.</span></span></span></p>

<p><span style="font-size:20px"><span style="font-family:Times"><span style="font-family:&quot;Arial Unicode MS&quot;">FNCCI on the other hand has demanded concessional loan for the sectors affected by coronavirus to pay the workers.</span></span></span></p>

<p><span style="font-size:20px"><span style="font-family:Times"><span style="font-family:&quot;Arial Unicode MS&quot;">CNI President Satish Kumar Moore said that although the government has assured the industrial sector of facilitating them to restart their works, the employees are not willing to join work fearing the disease. He said that the government must now collaborate in providing salary to the workers who are willing to join office and not the others.</span></span></span></p>

<p><span style="font-size:20px"><span style="font-family:Times"><span style="font-family:&quot;Arial Unicode MS&quot;">&nbsp;FNCCI President Bhavani Rana said that the private sector is at present concerned about sustaining their business rather than making profit. She said that all the sectors have joined hands to seek support from the government to bring the economy back on track.</span></span></span></p>

<p><span style="font-size:20px"><span style="font-family:Times"><span style="font-family:&quot;Arial Unicode MS&quot;">Stakeholders said that the government should not delay in bringing relief packages. They also opined that &ldquo;all industries should not be kept in the same basket&rdquo;. The government should support the industries and enterprises as per the nature of their business, they said.</span></span></span></p>

<p>&nbsp;</p>
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		'Article' => array(
			'id' => '11936',
			'article_category_id' => '1',
			'title' => 'Prices of Consumable Goods Up due to Rise in Transportation Fare',
			'sub_title' => '',
			'summary' => 'April 16: The prices of daily essentials including rice, edible oil and other food products have increased in the market due to the lockdown.',
			'content' => '<p><span style="font-size:20px"><span style="font-family:Times"><span style="font-family:&quot;Arial Unicode MS&quot;">April 16: The prices of daily essentials including rice, edible oil and other food products have increased in the market due to the lockdown despite government&rsquo;s assurance that it would not let the price increase. The government had claimed that it would ensure smooth supply of daily essentials thereby keeping inflation at the bay. </span></span></span></p>

<p><span style="font-size:20px"><span style="font-family:Times"><span style="font-family:&quot;Arial Unicode MS&quot;">However, the local businessmen have increased the prices of consumable goods citing increase in transportation cost. Businessmen have admitted that they are forced to sell the products at a higher price as they have been bearing transportation cost much more than during normal days.</span></span></span></p>

<p><span style="font-size:20px"><span style="font-family:Times"><span style="font-family:&quot;Arial Unicode MS&quot;">All types of lentil has seen an increase of Rs 20 to Rs 30 per kg since the lockdown was imposed. Likewise, the price of a sack of rice has increased by at least Rs 100 in the recent days, informed Raj Kumar Shrestha, chairman of Retail Market Association. He said that they have been forced to sell sunflower and soybean oil at Rs 20 higher than the normal price.</span></span></span></p>

<p><span style="font-size:20px"><span style="font-family:Times"><span style="font-family:&quot;Arial Unicode MS&quot;">Prices of other consumable items have also been increased in the same ratio, said Shrestha.</span></span></span></p>

<p><span style="font-size:20px"><span style="font-family:Times"><span style="font-family:&quot;Arial Unicode MS&quot;">Devendra Bhakta Shrestha, a food dealer, says that the transportation companies have been charging them additional fare to transport the goods. Therefore, the prices have shot up in the recent days.</span></span></span></p>
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		'Article' => array(
			'id' => '11938',
			'article_category_id' => '1',
			'title' => 'Ghimire Appointed NAC Chair',
			'sub_title' => '',
			'summary' => 'April 16: The government has appointed former secretary Sushil Ghimire as the executive chairman of Nepal Airlines Corporation. ',
			'content' => '<p><img alt="" src="/app/webroot/userfiles/images/nepal.jpg" style="height:356px; width:297px" /></p>

<p><span style="font-size:20px"><span style="font-family:Cambria"><span style="font-family:&quot;Arial Unicode MS&quot;">April 16: The government has appointed former secretary Sushil Ghimire as the executive chairman of Nepal Airlines Corporation (NAC). A meeting of the Council of Ministers on Tuesday took a decision to this effect, the national news agency RSS reported.&nbsp;&nbsp;&nbsp;&nbsp; </span><br />
<span style="font-family:&quot;Arial Unicode MS&quot;">Ghimire is a former secretary at the Ministry of Culture, Tourism and Civil Aviation.&nbsp;&nbsp;&nbsp;&nbsp; </span></span><br />
<span style="font-family:Cambria"><span style="font-family:&quot;Arial Unicode MS&quot;">The post of NAC chairman was lying vacant since the last three months after the resignation of the then chairman Madan Kharel. </span></span></span></p>

<p><span style="font-size:20px"><span style="font-family:Cambria"><span style="font-family:&quot;Arial Unicode MS&quot;">According to RSS, Ghimire was also in the team formed by Tourism Minister Yogesh Bhattarai for the study on management reform at NAC. </span></span></span></p>
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			'sortorder' => '11686',
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		'Article' => array(
			'id' => '11935',
			'article_category_id' => '1',
			'title' => 'Labour Ministry Asks Finance Ministry to Contribute to SSF on behalf of Workers',
			'sub_title' => '',
			'summary' => 'April 15: The Ministry of Labour, Employment and Social Security has written to the Ministry of Finance to deposit the amounts of 33,000 contributors to the Social Security Fund (SSF) for the month of Chaitra (mid-March to mid-April). ',
			'content' => '<p><span style="font-size:20px"><span style="font-family:Times"><span style="font-family:&quot;Arial Unicode MS&quot;">April 15: The Ministry of Labour, Employment and Social Security has written to the Ministry of Finance to deposit the amounts of 33,000 contributors to the Social Security Fund (SSF) for the month of Chaitra (mid-March to mid-April). </span></span></span></p>

<p><span style="font-size:20px"><span style="font-family:Times"><span style="font-family:&quot;Arial Unicode MS&quot;">According to the labour ministry, it has requested the finance ministry to deposit Rs 880 million on behalf of 33,327 employees working in 861 different private organisations.</span></span></span></p>

<p><span style="font-size:20px"><span style="font-family:Times"><span style="font-family:&quot;Arial Unicode MS&quot;">The Social Security Fund has been collecting 11 percent of monthly salary of the employees in addition to 20 percent amount of their salary deposited by the employers in return for social security during times of crisis and after retirement. The government has made it mandatory for all private organisations to contribute to the fund, which promises pension to the employees and other benefits after retirement.</span></span></span></p>

<p><span style="font-size:20px"><span style="font-family:Times"><span style="font-family:&quot;Arial Unicode MS&quot;">Due to the ongoing crisis caused by the lockdown to contain the spread of the coronavirus, the government had pledged to deposit the amount for the month of Chaitra by itself on behalf of the private sector.</span></span></span></p>

<p><span style="font-size:20px"><span style="font-family:Times"><span style="font-family:&quot;Arial Unicode MS&quot;">The government had made such announcement a few weeks ago while unveiling the relief packages to the sectors affected by the impact of coronavirus, informed Suman Ghimire, joint secretary at the Ministry of Labour, Employment and Social Security.</span></span></span></p>

<p><span style="font-size:20px"><span style="font-family:Times"><span style="font-family:&quot;Arial Unicode MS&quot;">According to Ghimire, the finance ministry will deposit the amount in the SSF as per the recommendation of the labour ministry.</span></span></span></p>

<p>&nbsp;</p>
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		'Article' => array(
			'id' => '11949',
			'article_category_id' => '1',
			'title' => 'Private Sector Employers ‘Not in a Condition’ to Pay Full Salary to Workers',
			'sub_title' => 'The law does not allow the companies from pay cuts just because their business have been affected for a few months. ',
			'summary' => 'April 19: Most of the industries and enterprises have stopped operation since the government imposed a lockdown on March 24 to prevent coronavirus from spreading. ',
			'content' => '<p><span style="font-size:20px"><span style="font-family:Times"><span style="font-family:&quot;Arial Unicode MS&quot;">April 19: Most of the industries and enterprises have stopped operation since the government imposed a lockdown on March 24 to prevent coronavirus from spreading. Private businesses as well as government office have remained shut due to the current crisis. </span></span></span></p>

<p><span style="font-size:20px"><span style="font-family:Times"><span style="font-family:&quot;Arial Unicode MS&quot;">In the first phase of relief announced by the government, it had clearly instructed the employers of the private sector to pay the salary of Chaitra (mid-March to mid-April) to the workers. However, the employers say have not been able to pay the salary of their staffers due to the extension of lockdown, which has affected their business. </span></span></span></p>

<p><span style="font-size:20px"><span style="font-family:Times"><span style="font-family:&quot;Arial Unicode MS&quot;">Umbrella organisations of the private sector are currently discussing how to address this problem. They are expected to come up with a solution by today (April 19).</span></span></span></p>

<p><span style="font-size:20px"><span style="font-family:Times"><span style="font-family:&quot;Arial Unicode MS&quot;">However, the credibility of established companies have been put into question for their reluctance to pay the staffers at time of crisis. The law does not allow the companies from pay cuts just because their business have been affected for a few months. But the companies are considering paying certain amount of salary instead of full pay, arguing that their business have come to a complete halt.</span></span></span></p>

<p><span style="font-size:20px"><span style="font-family:Times"><span style="font-family:&quot;Arial Unicode MS&quot;">Government employees get paid even if their office is opened or not. But the private sector employers argue that they can pay only by generating income. They say it is natural for them to struggle to pay the workers at a time when their businesses have come to a grinding halt.</span></span></span></p>

<p><span style="font-size:20px"><span style="font-family:Times"><span style="font-family:&quot;Arial Unicode MS&quot;">The Federation of Nepalese Chambers of Commerce and Industry, Confederation of Nepalese Industries and Nepal Chamber of Commerce are weighing various options regarding payment of workers. The umbrella bodies of the private sector have been discussing this issue since a week and are expected to finalize the modality of payment by Sunday (April 19).</span></span></span></p>

<p><span style="font-size:20px"><span style="font-family:Times"><span style="font-family:&quot;Arial Unicode MS&quot;">Vice President of NCC Rajendra Malla said that none of the businesses and industries are currently in a position to pay full salary to their staffers.</span></span></span></p>

<p><span style="font-size:20px"><span style="font-family:Times"><span style="font-family:&quot;Arial Unicode MS&quot;">&ldquo;We have tentatively decided to deduct the salary of workers depending on their pay. Those who earn low salary will see less deduction while those who make good income will be dealth accordingly,&rdquo; said Malla.</span></span></span></p>

<p>&nbsp;</p>
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			'sortorder' => '11699',
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			'id' => '11948',
			'article_category_id' => '1',
			'title' => 'No Penalty on Electricity Tariffs if Dues Cleared by May 20',
			'sub_title' => '',
			'summary' => 'April 19: The government has said that no one will be obliged to pay penalty on electricity tariffs if the consumers clear the dues of previous three months by May 20.   ',
			'content' => '<p><span style="font-size:20px"><span style="font-family:Cambria"><span style="font-family:&quot;Arial Unicode MS&quot;">April 19: The government has said that no one will be obliged to pay penalty on electricity tariffs if the consumers clear the dues of previous three months by May 20.&nbsp;&nbsp;&nbsp;&nbsp; </span><br />
<span style="font-family:&quot;Arial Unicode MS&quot;">Executive Director of Nepal Electricity Authority (NEA) Kulman Ghising said that a cabinet meeting held recently decided to waive off the penalty of previous three months if they pay the tariffs within the given date. The deadline could again be extended if the current lockdown order is extended to fight against COVID-19.&nbsp;&nbsp;&nbsp;&nbsp; </span><br />
<span style="font-family:&quot;Arial Unicode MS&quot;">To implement the cabinet decision taken on March 29, a meeting of the Board of Directors of NEA presided over by Energy Minister Barsha Man Pun took a decision to waive off the penalty.&nbsp;&nbsp;&nbsp;&nbsp; </span><br />
<span style="font-family:&quot;Arial Unicode MS&quot;">Minister Pun has also urged the public to clear the dues through online system and help in financial risk reduction of the NEA. </span><br />
<span style="font-family:&quot;Arial Unicode MS&quot;">Likewise, the NEA has decided to exempt two percent if the tariff of previous two months is cleared by May 19.&nbsp; -- RSS </span></span></span></p>
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			'sortorder' => '11698',
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			'id' => '11947',
			'article_category_id' => '1',
			'title' => 'One More Tests Positive in Udayapur ',
			'sub_title' => '',
			'summary' => 'April 19: The number of people infected with COVID-19 has reached 31 in Nepal.',
			'content' => '<p><span style="font-size:20px"><span style="font-family:Cambria">April 19: <span style="font-family:&quot;Arial Unicode MS&quot;">The number of people infected with COVID-19 has reached 31 in Nepal. One more person living in a mosque in Udayapur has tested positive, taking the total confirmed cases to 31, said Director of the Epidemiology and Communicable Disease Control Division Dr Basudev Pandey.&nbsp;&nbsp;&nbsp;&nbsp; </span><br />
<span style="font-family:&quot;Arial Unicode MS&quot;">It may be noted that 12 persons, all Indian nationals, living in the Udayapur mosque had tested positive on Friday. This takes the number of positive case to 13 in the mosque alone. The latest is a man of 65 years old. His nationality is not yet known.&nbsp;&nbsp;&nbsp;&nbsp; </span><br />
<span style="font-family:&quot;Arial Unicode MS&quot;">The latest case was confirmed at the Koshi Hospital, joint spokesperson at the Ministry of Health and Population Dr Sameer Adhikari said. Contact tracing of the infected ones has already begun. -- RSS</span></span></span></p>
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			'keywords' => '',
			'description' => '',
			'sortorder' => '11697',
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			'id' => '11946',
			'article_category_id' => '1',
			'title' => 'Hotel Industry Faces Loss of Rs 9 Billion ',
			'sub_title' => '',
			'summary' => 'April 17: The hotel industry of Nepal of Nepal has recorded loss of more than Rs 9 billion in the last three months due to the coronavirus pandemic. ',
			'content' => '<p><span style="font-size:20px"><span style="font-family:Times"><span style="font-family:Arial">April 17: The hotel industry of Nepal of Nepal has recorded loss of more than Rs 9 billion in the last three months due to the coronavirus pandemic. This sector has been the worst hit by the crisis, which emerged in late December last year from China and has now spread to 210 countries across the globe.</span></span></span></p>

<p><span style="font-size:20px"><span style="font-family:Times"><span style="font-family:Arial">&nbsp;Hotel entrepreneurs say that they had to bear the loss due to the cancellation of bookings as the number of tourists arriving in Nepal started decline with the growing impact of the pandemic. </span></span></span></p>

<p><span style="font-size:20px"><span style="font-family:Times"><span style="font-family:Arial">The hotel industry of Nepal witnessed large number of booking cancellation between January to March, which is considered the peak season for tourism.</span></span></span></p>

<p><span style="font-size:20px"><span style="font-family:Times"><span style="font-family:Arial">A preliminary study conducted by the Hotel Association of Nepal, the umbrella body of hotel entrepreneurs in the country, states that the hotel industry has been badly affected by the lack of tourists due to the coronavirus crisis and the subsequent lockdown imposed by the governments across the world, including Nepal.</span></span></span></p>

<p><span style="font-size:20px"><span style="font-family:Times"><span style="font-family:Arial">The hotel industry had invested heavily in the recent past as the country prepared to welcome a large number of tourists during the Visit Nepal 2020 campaign. New star-rated hotels in the capital and outside were emerging, targeting the government campaign. </span></span></span></p>

<p><span style="font-size:20px"><span style="font-family:Times"><span style="font-family:Arial">Kathmandu Marriott by MS Group, Vivanta by Chaudhary Group, Akama Hotel by Sanima Group are already in operation. Similarly, Hilton Hotel by Shanker Group and Sheraton Hotel by Non- Resident Nepali Association (NRNA) are under construction. </span></span></span></p>

<p><span style="font-size:20px"><span style="font-family:Times"><span style="font-family:Arial">Likewise, the existing hotels had also upgraded their services keeping in mind the VNY 2020 campaign.</span></span></span></p>

<p><span style="font-size:20px"><span style="font-family:Times"><span style="font-family:Arial">But the crisis of coronavirus came out of the blue at a time when this sector was witnessing heavy investment.</span></span></span></p>

<p><span style="font-size:20px"><span style="font-family:Times"><span style="font-family:Arial">According to the hotel entrepreneurs, this situation is more challenging than the 10-year Maoist insurgency, earthquake of 2015 and the economic blockade imposed by India. </span></span></span></p>

<p><span style="font-size:20px"><span style="font-family:Times"><span style="font-family:Arial">Managing fixed cost like employee&rsquo;s &nbsp;salary and payment of bank loan despite the zero arrival of tourists has been one of the biggest challenges for the hotel sector. The entrepreneurs say that uncertainty on the normalcy have made them more worried. </span></span></span></p>

<p><span style="font-size:20px"><span style="font-family:Times"><span style="font-family:Arial">According to Pravin Bahadur Pandey, executive director of Shangri-la hotel, it may take around one year to get back to normal business even after the outbreak comes under control. </span></span></span></p>

<p><span style="font-size:20px"><span style="font-family:Times"><span style="font-family:Arial">The entrepreneurs say that five-star hotels have been bearing loss of around Rs 100 million every month. </span></span></span></p>

<p><span style="font-size:20px"><span style="font-family:Times"><span style="font-family:Arial">&ldquo;We are facing loss of around Rs 100 million per month,&rdquo; said Pandey.&nbsp; </span></span></span></p>

<p><span style="font-size:20px"><span style="font-family:Times"><span style="font-family:Arial">Also, refunding of the bookings is another challenge entrepreneurs are currently facing.&nbsp; </span></span></span></p>

<p><span style="font-size:20px"><span style="font-family:Times"><span style="font-family:Arial">&ldquo;We need to refund 100 percent for the bookings made for September and October, which is the peak tourism season,&rdquo; said the entrepreneurs. </span></span></span></p>

<p><span style="font-size:20px"><span style="font-family:Times"><span style="font-family:Arial">Shashikant Agarwal of Marriott Hotel said that although all the hotel are facing problems, the ones which have taken high amount of loan targeting the Visit Nepal Year 2020 for infrastructure development are in trouble.</span></span></span></p>

<p><span style="font-size:20px"><span style="font-family:Times"><span style="font-family:Arial">Similarly, Binayak Shah, vice-president of HAN, said that the government should bring a concrete plan to revive the tourism sector in Nepal. </span></span></span></p>

<p><span style="font-size:20px"><span style="font-family:Times"><span style="font-family:Arial">According to HAN, government needs to give one year&rsquo;s time to pay the interest on loan, provide them subsidized loan, arrange relief for rent of six months and manage the payroll of one million employees and workers. </span></span></span></p>

<p><span style="font-size:20px"><span style="font-family:Times"><span style="font-family:Arial">Similarly, Agarwal of Marriott said that as it will take time to bounce back from the crisis, the government should address the concerns of &nbsp;the hotel and tourism sectors.</span></span></span></p>

<p><span style="font-size:20px"><span style="font-family:Times">&nbsp;</span></span></p>

<p>&nbsp;</p>
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			'id' => '11944',
			'article_category_id' => '1',
			'title' => 'Lockdown Prevents 2 Companies from Issuing IPOs ',
			'sub_title' => '',
			'summary' => 'April 17: Two companies that had acquired permission to issue the Initial Public Offering (IPO) have not been able to issue them due to the extension of the lockdown imposed to contain the spread of coronavirus. ',
			'content' => '<p><span style="font-size:20px"><span style="font-family:Times"><span style="font-family:&quot;Arial Unicode MS&quot;">April 17: Two companies that had acquired permission to issue the Initial Public Offering (IPO) have not been able to issue them due to the extension of the lockdown imposed to contain the spread of coronavirus. </span></span></span></p>

<p><span style="font-size:20px"><span style="font-family:Times"><span style="font-family:&quot;Arial Unicode MS&quot;">NRN Infrastructure and Development Limited, a company promoted by the Non&nbsp; Residential Nepalis (NRNs) and NIC Asia Microfinance Company have not been able to issue their IPO due to the ongoing lockdown. </span></span></span></p>

<p><span style="font-size:20px"><span style="font-family:Times"><span style="font-family:&quot;Arial Unicode MS&quot;">Sanima Capital, which has been assigned to issue the IPOs of both the companies, has not been able to do so owing to the current crisis.</span></span></span></p>

<p><span style="font-size:20px"><span style="font-family:Times"><span style="font-family:&quot;Arial Unicode MS&quot;">Mandeep Luitel, investment banking chief of Sanima Capital, confirmed that the company has not been able to issue the IPOs because of the lockdown. According to him, NRN Infrastructure and Development Limited was due to issue the IPOs on April 10 while NIC Asia Microfinance was scheduled to issue the IPOs on April 14. But the process has been halted.</span></span></span></p>

<p><span style="font-size:20px"><span style="font-family:Times"><span style="font-family:&quot;Arial Unicode MS&quot;">The Securities Board of Nepal (SEBON) had approved the issuance of 33,98,046 units of IPO of NRN Infrastructure and Development Limited. The issued capital of the company is Rs 1.13 billion, out of which 30 percent share was to be opened for the general public. </span></span></span></p>

<p><span style="font-size:20px"><span style="font-family:Times"><span style="font-family:&quot;Arial Unicode MS&quot;">Likewise, NIC Asia Microfinance was set to issue IPOs worth Rs 470 million. Both the companies had received the approval more than a month ago.</span></span></span></p>

<p>&nbsp;</p>

<p>&nbsp;</p>
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		'Article' => array(
			'id' => '11943',
			'article_category_id' => '1',
			'title' => 'Insurance Board Directs Stakeholders to Issue COVID-19 Insurance Coverage   ',
			'sub_title' => '',
			'summary' => 'April 17: The Insurance Board has directed all stakeholder companies to issue coronavirus insurance scheme amid rising threats from the coronavirus pandemic.   ',
			'content' => '<p><span style="font-size:20px"><span style="font-family:Cambria"><span style="font-family:Arial">April 17: The Insurance Board has directed all stakeholder companies to issue coronavirus insurance scheme amid rising threats from the coronavirus pandemic.&nbsp;&nbsp; </span></span></span></p>

<p><span style="font-size:20px"><span style="font-family:Cambria"><span style="font-family:Arial">Till date, none of the insurance companies have any scheme to cover the risk of coronavirus. </span></span></span></p>

<p><span style="font-size:20px"><span style="font-family:Cambria"><span style="font-family:Arial">The Insurance Board issued a circular on Thursday stating that the new insurance policy will be categorized into two groups.</span></span></span></p>

<p><span style="font-size:20px"><span style="font-family:Cambria"><span style="font-family:Arial">In the first category, any person availing the insurance policy has to pay a premium of Rs 1000 for coverage up to Rs 100,000. Likewise, the insurance premium charge has been set up at Rs 600 if all members of the family subscribe to the insurance scheme.</span></span></span></p>

<p><span style="font-size:20px"><span style="font-family:Cambria"><span style="font-family:Arial">In the second category, the board has introduced another insurance scheme worth Rs 50,000 per person. To register for the scheme, an individual has to pay a premium of Rs 500 per person or Rs 300 for each member of the family.</span></span></span></p>

<p><span style="font-size:20px"><span style="font-family:Cambria"><span style="font-family:Arial">The scheme aims to cover people with low income affected by COVID-19, according to the board&rsquo;s executive director Raju Raman Poudel. </span></span></span></p>

<p><span style="font-size:20px"><span style="font-family:Cambria"><span style="font-family:Arial">&ldquo;Our aim is to provide insurance facility to people from low income grout. Therefore, this scheme has to be available in every village,&rdquo; Poudel told New Business Age.</span></span></span></p>

<p><span style="font-size:20px"><img alt="" src="/app/webroot/userfiles/images/insurence_notice.jpg" style="height:1554px; width:1216px" /></span></p>

<p>&nbsp;</p>

<p>&nbsp;</p>
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			'id' => '11942',
			'article_category_id' => '1',
			'title' => 'Supreme Court Orders Government to Rescue Migrant Workers at Risk ',
			'sub_title' => '',
			'summary' => 'April 17: The Supreme Court has issued an interim order in the name of the government to rescue Nepali citizens living in vulnerable condition in foreign countries.',
			'content' => '<p><em>Flowers blooming on the premises of the Supreme Court in this recent picture. Photo Courtesy: Rss</em></p>

<p><span style="font-size:20px"><span style="font-family:Cambria"><span style="font-family:&quot;Arial Unicode MS&quot;">April 17: The Supreme Court has issued an interim order in the name of the government to rescue Nepali citizens living in vulnerable condition in foreign countries, the state-run national news agency RSS reported. </span></span></span></p>

<p><span style="font-size:20px"><span style="font-family:Cambria"><span style="font-family:&quot;Arial Unicode MS&quot;">According to RSS, a single bench of Justice Sapana Pradhan Malla on Thursday (April 16) directed the government to rescue the migrant workers.&nbsp;&nbsp;&nbsp;&nbsp; </span><br />
<span style="font-family:&quot;Arial Unicode MS&quot;">The apex court reportedly also asked the government to immediately prepare a report on the health status of the Nepali migrant workers in different countries hit by the COVID-19 pandemic. </span></span></span></p>

<p><span style="font-size:20px"><span style="font-family:Cambria"><span style="font-family:&quot;Arial Unicode MS&quot;">&quot;No matter where Nepalis are it is the duty of a legitimate government to address their health, security and other needs,&quot; RSS reported citing the order.&nbsp;&nbsp;&nbsp;&nbsp; </span><br />
<span style="font-family:&quot;Arial Unicode MS&quot;">The state cannot ignore a situation where the Nepali migrant workers, who have a significant contribution to the country&#39;s economy, lie in a very poor, unsafe and unhealthy situation after losing their job, reads the order. </span></span></span></p>

<p><span style="font-size:20px"><span style="font-family:Cambria"><span style="font-family:&quot;Arial Unicode MS&quot;">The bench further said that immediate and effective additional measures are warranted in the case of the citizens in foreign employment in the present situation of global crisis.&nbsp;&nbsp;&nbsp;&nbsp; </span><br />
<span style="font-family:&quot;Arial Unicode MS&quot;">The order comes in response to a writ petition filed on Wednesday by advocate Som Prasad Luintel, seeking court intervention to save the Nepali migrant workers from the possible risk of coronavirus. </span></span></span></p>
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	(int) 7 => array(
		'Article' => array(
			'id' => '11945',
			'article_category_id' => '1',
			'title' => 'No Case Filed against Sulav Agarwal at DAO yet',
			'sub_title' => '',
			'summary' => 'April 17: No case has yet been filed against Sulav Agrawal, director of Shankar Group, even though he was arrested more than a week ago for misusing his diplomatic number plate car for black marketing of infrared thermometers.',
			'content' => '<h1><span style="font-size:20px"><span style="font-family:&quot;Times New Roman&quot;">April 17: No case has yet been filed against Sulav Agrawal, director of Shankar Group, even though he was arrested more than a week ago for misusing his diplomatic number plate car for black marketing of infrared thermometers.</span></span></h1>

<h1><span style="font-size:20px"><span style="font-family:&quot;Times New Roman&quot;">The Metropolitan Police Range, Kathmandu has already submitted an investigation report to the District Attorney&rsquo;s Office, Kathmandu. The report suggests the government to punish Agrawal for misusing his diplomatic privilege despite, a police source informed New Business Age.</span></span></h1>

<h1><span style="font-size:20px"><span style="font-family:&quot;Times New Roman&quot;">However, no charge has been filed against Agarwal at the District Administration Office at a time when the courts are closed.</span></span></h1>

<h1><span style="font-size:20px"><span style="font-family:&quot;Times New Roman&quot;">Agrawal was arrested by an undercover team of the Metropolitan Crime Division of Nepal Police from Baluwatar on April 7 for attempting to sell the thermal guns at inflated price by misusing his diplomatic privilege. He was arrested red-handed from the car with diplomatic number plate.</span></span></h1>

<h1><span style="font-size:20px"><span style="font-family:&quot;Times New Roman&quot;">The District Administration Office had remanded Agarwal in custody for 12 days for investigation. The detention period is expiring on Saturday, April 18.</span></span></h1>

<h1><span style="font-size:20px"><span style="font-family:&quot;Times New Roman&quot;">Advocate of the District Attorney&rsquo;s Office, Shrijan Dhakal, informed New Business Age that the case has not yet been registered in the DAO because the investigation has not concluded.</span></span></h1>

<h1><span style="font-size:20px"><span style="font-family:&quot;Times New Roman&quot;">The police can keep an accused in custody for a maximum of 25 days in accordance to the law.</span></span></h1>

<h1>&nbsp;</h1>

<h1>&nbsp;</h1>

<h1>&nbsp;</h1>
',
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	(int) 8 => array(
		'Article' => array(
			'id' => '11941',
			'article_category_id' => '1',
			'title' => 'NAC Aircraft with Medical Supplies Arrive from Guangzhou ',
			'sub_title' => '',
			'summary' => 'April 17: Two wide-body A-330 aircraft of Nepal Airlines Corporation have landed in Kathmandu with essential medical supplies for the fight against COVID-19.          ',
			'content' => '<p><span style="font-size:20px"><span style="font-family:Cambria"><span style="font-family:&quot;Arial Unicode MS&quot;">April 17: Two wide-body A-330 aircraft of Nepal Airlines Corporation have landed in Kathmandu with essential medical supplies for the fight against COVID-19.&nbsp;&nbsp;&nbsp;&nbsp; </span></span></span></p>

<p><span style="font-size:20px"><span style="font-family:Cambria"><span style="font-family:&quot;Arial Unicode MS&quot;">A source at the Tribhuvan International Airport said the two chartered aircraft landed at the airport on Friday morning. The quantity and type of medical supplies that have been brought from Guangzhou are yet to be known</span></span></span></p>

<p><span style="font-size:20px"><span style="font-family:Cambria"><span style="font-family:&quot;Arial Unicode MS&quot;">The aircraft of the national flag-carrier NAC had flown to China&rsquo;s Guangzhou on Thursday night to bring the medical kits and supplies. Two business groups had chartered the aircraft. Medical supplies were brought from Guangzhou on March 29 and April 2 as well. --RSS </span></span></span></p>
',
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			'article_date' => '2020-04-17 09:39:19',
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	(int) 9 => array(
		'Article' => array(
			'id' => '11939',
			'article_category_id' => '1',
			'title' => 'IMF Warns of “Great Recession”',
			'sub_title' => '',
			'summary' => 'April 16: The International Monetary Fund (IMF) has warned of great recession in a century and a dire outlook for the world economy ravaged by coronavirus in its latest report.',
			'content' => '<p><span style="font-size:20px"><span style="font-family:Times"><span style="font-family:Arial">April 16: The International Monetary Fund (IMF) has warned of great recession in a century and a dire outlook for the world economy ravaged by coronavirus in its latest report.</span></span></span></p>

<p><span style="font-size:20px"><span style="font-family:Times"><span style="font-family:Arial">According to Aljazeera, the World Economic Outlook released by the IMF on Tuesday paints a bleak picture of world economy and the manifold financial challenges facing low-income countries.</span></span></span></p>

<p><span style="font-size:20px"><span style="font-family:Cambria"><span style="font-family:Arial">The IMF said that the world economy&rsquo;s contraction and recovery would be worse than anticipated if the coronavirus lingers, Bloomberg reported.</span></span></span></p>

<p><span style="font-size:20px"><span style="font-family:Cambria"><span style="font-family:Arial">&quot;For low-income countries, the challenges of this crisis are manifold,&quot; IMF Chief Economist Geeta Gopinath reportedly said at a video conference briefing where she presented the report. &quot;They have to deal with health crises with health systems that are just not as strong.&quot;</span></span></span></p>

<p><span style="font-size:20px"><span style="font-family:Times"><span style="font-family:Arial">Titled The Great Lockdown, the IMF&#39;s latest report on the global economy described the coronavirus pandemic as a crisis &quot;like no other&quot; and predicted that world economic output will shrink by three percent this year, before experiencing a partial rebound next year.</span></span></span></p>

<p><span style="font-size:20px"><span style="font-family:Times"><span style="font-family:Arial">&quot;It is very likely that this year, the global economy will experience its worst recession since the Great Depression, surpassing that seen during the financial crisis a decade ago,&quot; Aljazeera quoted IMF Chief Economist Gita Gopinath as saying.</span></span></span></p>

<p><span style="font-size:20px"><span style="font-family:Times"><span style="font-family:Arial">IMF warned that there is extreme uncertainty around the global growth forecast. The economic fallout depends on factors that interact in ways that are hard to predict, the report said citing the pathway of the pandemic, the efficacy of containment measures, the intensity of supply chain disruptions, credit market freezes, commodity price impacts and changes in consumer behaviour.</span></span></span></p>

<p><span style="font-size:20px"><span style="font-family:Times"><span style="font-family:Arial">Under the IMF&rsquo;s best-case scenario, the world is likely to lose a cumulative $9 trillion in output over two years - greater than the combined gross domestic product (GDP) of Germany and Japan, said Gopinath.</span></span></span></p>

<p><span style="font-size:20px"><span style="font-family:Times"><span style="font-family:Arial">The IMF&#39;s forecasts assume that outbreaks of the novel coronavirus will peak in most countries during the second quarter and fade in the second half of the year, with business closures and other containment measures gradually unwound.</span></span></span></p>

<p><span style="font-size:20px"><span style="font-family:Times"><span style="font-family:Arial">A longer pandemic that lasts through the third quarter could cause a further three percent contraction in 2020 and a slower recovery in 2021, due to the &quot;scarring&quot; effects of bankruptcies and prolonged unemployment, the report said.</span></span></span></p>

<p><span style="font-size:20px"><span style="font-family:Cambria"><span style="font-family:Arial">Aljazeera further reported citing the IMF that emerging and developing economies face a litany of challenges from the coronavirus pandemic, ranging from underfunded healthcare systems and burdensome debt loads to high rates of unemployment. </span></span></span></p>

<p><span style="font-size:20px"><span style="font-family:Cambria"><span style="font-family:Arial">The report said that developing economies that are highly dependent on tourism will be hit particularly hard, while low-income countries where large portions of the working population depend on daily wages to survive require immediate intervention.</span></span></span></p>

<p><span style="font-size:20px"><span style="font-family:Cambria"><span style="font-family:Arial">&quot;It is important to do whatever it takes and that includes cash transfers, digital payment systems to reach those working for daily wages,&quot; Gopinath stressed.</span></span></span></p>

<p><span style="font-size:20px"><span style="font-family:Cambria"><span style="font-family:Arial">For low-income countries with high levels of debt, Gopinath stressed the importance for creditors to stand up and provide debt relief.</span></span></span></p>

<p><span style="font-size:20px"><span style="font-family:Cambria"><span style="font-family:Arial">&quot;This crisis is a truly exogenous shock,&quot; she said.</span></span></span></p>

<p>&nbsp;</p>
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	(int) 10 => array(
		'Article' => array(
			'id' => '11940',
			'article_category_id' => '1',
			'title' => 'Government Facing Mounting Challenges for Resource Management ',
			'sub_title' => '',
			'summary' => 'April 16: The government has decided to utilize the funds allocated under various headings to combat the current crisis of coronavirus pandemic. ',
			'content' => '<h1><span style="font-size:20px"><span style="font-family:&quot;Times New Roman&quot;">April 16: The government has decided to utilize the funds allocated under various headings to combat the current crisis of coronavirus pandemic. </span></span></h1>

<h1><span style="font-size:20px"><span style="font-family:&quot;Times New Roman&quot;">The government decided to mobilize internal resources as revenue collection has been shrinking due to the lockdown, which has created mounting challenges for resource management.</span></span></h1>

<h1><span style="font-size:20px"><span style="font-family:&quot;Times New Roman&quot;">In order to prevent the scarcity of resources, the government is preparing to utilize a budget of Rs 16 billion allocated for Nepal Telecom, Rs 3 billion for New Nepal Construction Fund and Disaster Relief Fund respectively.</span></span></h1>

<h1><span style="font-size:20px"><span style="font-family:&quot;Times New Roman&quot;">Deepak Subedi, secretary at the Ministry of Communication and Information Technology informed New Business Age that the Minister for Finance presented a proposal of utilizing various funds to the cabinet meeting on Tuesday. </span></span></h1>

<h1><span style="font-size:20px"><span style="font-family:&quot;Times New Roman&quot;">Minister for Finance Dr Yuba Raj Khatiwada during the cabinet meeting held on Tuesday, made such proposal &nbsp;due to the shrinking revenue collection.&nbsp;&nbsp; &nbsp;&nbsp;&nbsp;</span></span></h1>

<h1><span style="font-size:20px"><span style="font-family:&quot;Times New Roman&quot;">&quot;However, a decision on the proposal has been delayed because the chief secretary is yet to approve it. The media will be informed about the decision by tomorrow (Thursday),&quot; Subedi said.</span></span></h1>

<h1>&nbsp;</h1>

<h1>&nbsp;</h1>

<h1>&nbsp;</h1>

<h1>&nbsp;</h1>

<h1>&nbsp;</h1>

<h1>&nbsp;</h1>

<h1>&nbsp;</h1>

<h1>&nbsp;</h1>

<h1>&nbsp;</h1>

<h1>&nbsp;</h1>

<h1>&nbsp;</h1>

<h1>&nbsp;</h1>

<h1>&nbsp;</h1>

<h1>&nbsp;</h1>
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	(int) 11 => array(
		'Article' => array(
			'id' => '11937',
			'article_category_id' => '1',
			'title' => 'Business Community Discussing Ways to Pay Workers',
			'sub_title' => '',
			'summary' => 'April 16: The business community of Nepal has taken initiative to find ways for addressing the issue of workers’ payment in the context of coronavirus pandemic causing disruption to all economic activities.',
			'content' => '<p><span style="font-size:20px"><span style="font-family:Times"><span style="font-family:&quot;Arial Unicode MS&quot;">April 16: The business community of Nepal has taken initiative to find ways for addressing the issue of workers&rsquo; payment in the context of coronavirus pandemic causing disruption to all economic activities.</span></span></span></p>

<p><span style="font-size:20px"><span style="font-family:Times"><span style="font-family:&quot;Arial Unicode MS&quot;">Participants of a meeting organised by the Employers Council of the Federation of Nepalese Chambers of Commerce and Industry (FNCCI) agreed to decide on the payment of workers within a week and hold discussion in this regard with the government and the respective trade unions. Confederation of Nepalese Industries, Nepal Chamber of Commerce and Hotel Association of Nepal had participated in the meeting held on Tuesday.</span></span></span></p>

<p><span style="font-size:20px"><span style="font-family:Times"><span style="font-family:&quot;Arial Unicode MS&quot;">FNCCI President Bhavani Rana informed about the latest steps taken by the umbrella body to address the problems of paying the workers&rsquo; wages during a video conference organised by the Society of Economic Journalists of Nepal ( SEJON) on Wednesday.</span></span></span></p>

<p><span style="font-size:20px"><span style="font-family:Times"><span style="font-family:&quot;Arial Unicode MS&quot;">According to General Federation of Nepalese Trade Unions (GEFONT), there are altogether 3 to 3.5 million workers in the formal and informal sectors in the country. Hotel Association of Nepal informed that around 1 million people are employed by the hotel industry alone.</span></span></span></p>

<p><span style="font-size:20px"><span style="font-family:Times"><span style="font-family:&quot;Arial Unicode MS&quot;">Operation of most of the industries in the country have come to a standstill due to the fear of coronavirus while the hotel and tourism industries and the aviation sector have been badly affected by the pandemic.</span></span></span></p>

<p><span style="font-size:20px"><span style="font-family:Times"><span style="font-family:&quot;Arial Unicode MS&quot;">This has raised the question of pay-cuts by the employers. The domestic airline companies have already decided to hold the salary of their staffers, instructing some employees to take unpaid leave. Some have decided to pay half the salary during lockdown.</span></span></span></p>

<p><span style="font-size:20px"><span style="font-family:Times"><span style="font-family:&quot;Arial Unicode MS&quot;">The umbrella bodies of the private sector are in talks with the trade unions regarding the salary of the workers.</span></span></span></p>

<p><span style="font-size:20px"><span style="font-family:Times"><span style="font-family:&quot;Arial Unicode MS&quot;">Chairman of GEFONT Binod Shrestha informed New Business Age that they held discussions with the employers&rsquo; umbrella bodies a few days ago regarding payment of the workers. For the time being, both sides have agreed that the salary would be distributed in such a way that both the workers and the employers would not be overburdened by the decision, said Shrestha.</span></span></span></p>

<p><span style="font-size:20px"><span style="font-family:Times"><span style="font-family:&quot;Arial Unicode MS&quot;">During the meeting, some stakeholders reportedly expressed their inability to pay the workers from this month onward.</span></span></span></p>

<p><span style="font-size:20px"><span style="font-family:Times"><span style="font-family:&quot;Arial Unicode MS&quot;">Tuesday&rsquo;s meeting also decided to form a committee comprising of vice presidents of all the three umbrella bodies to prepare a report and present it to the government, informed Chandra Dhakal, vice president of FNCCI.</span></span></span></p>

<p><span style="font-size:20px"><span style="font-family:Times"><span style="font-family:&quot;Arial Unicode MS&quot;">Meanwhile, HAN has clearly stated that the hotel industry alone cannot pay the salaries of the staffers and the government must support them.</span></span></span></p>

<p><span style="font-size:20px"><span style="font-family:Times"><span style="font-family:&quot;Arial Unicode MS&quot;">FNCCI on the other hand has demanded concessional loan for the sectors affected by coronavirus to pay the workers.</span></span></span></p>

<p><span style="font-size:20px"><span style="font-family:Times"><span style="font-family:&quot;Arial Unicode MS&quot;">CNI President Satish Kumar Moore said that although the government has assured the industrial sector of facilitating them to restart their works, the employees are not willing to join work fearing the disease. He said that the government must now collaborate in providing salary to the workers who are willing to join office and not the others.</span></span></span></p>

<p><span style="font-size:20px"><span style="font-family:Times"><span style="font-family:&quot;Arial Unicode MS&quot;">&nbsp;FNCCI President Bhavani Rana said that the private sector is at present concerned about sustaining their business rather than making profit. She said that all the sectors have joined hands to seek support from the government to bring the economy back on track.</span></span></span></p>

<p><span style="font-size:20px"><span style="font-family:Times"><span style="font-family:&quot;Arial Unicode MS&quot;">Stakeholders said that the government should not delay in bringing relief packages. They also opined that &ldquo;all industries should not be kept in the same basket&rdquo;. The government should support the industries and enterprises as per the nature of their business, they said.</span></span></span></p>

<p>&nbsp;</p>
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		'Article' => array(
			'id' => '11936',
			'article_category_id' => '1',
			'title' => 'Prices of Consumable Goods Up due to Rise in Transportation Fare',
			'sub_title' => '',
			'summary' => 'April 16: The prices of daily essentials including rice, edible oil and other food products have increased in the market due to the lockdown.',
			'content' => '<p><span style="font-size:20px"><span style="font-family:Times"><span style="font-family:&quot;Arial Unicode MS&quot;">April 16: The prices of daily essentials including rice, edible oil and other food products have increased in the market due to the lockdown despite government&rsquo;s assurance that it would not let the price increase. The government had claimed that it would ensure smooth supply of daily essentials thereby keeping inflation at the bay. </span></span></span></p>

<p><span style="font-size:20px"><span style="font-family:Times"><span style="font-family:&quot;Arial Unicode MS&quot;">However, the local businessmen have increased the prices of consumable goods citing increase in transportation cost. Businessmen have admitted that they are forced to sell the products at a higher price as they have been bearing transportation cost much more than during normal days.</span></span></span></p>

<p><span style="font-size:20px"><span style="font-family:Times"><span style="font-family:&quot;Arial Unicode MS&quot;">All types of lentil has seen an increase of Rs 20 to Rs 30 per kg since the lockdown was imposed. Likewise, the price of a sack of rice has increased by at least Rs 100 in the recent days, informed Raj Kumar Shrestha, chairman of Retail Market Association. He said that they have been forced to sell sunflower and soybean oil at Rs 20 higher than the normal price.</span></span></span></p>

<p><span style="font-size:20px"><span style="font-family:Times"><span style="font-family:&quot;Arial Unicode MS&quot;">Prices of other consumable items have also been increased in the same ratio, said Shrestha.</span></span></span></p>

<p><span style="font-size:20px"><span style="font-family:Times"><span style="font-family:&quot;Arial Unicode MS&quot;">Devendra Bhakta Shrestha, a food dealer, says that the transportation companies have been charging them additional fare to transport the goods. Therefore, the prices have shot up in the recent days.</span></span></span></p>
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	(int) 13 => array(
		'Article' => array(
			'id' => '11938',
			'article_category_id' => '1',
			'title' => 'Ghimire Appointed NAC Chair',
			'sub_title' => '',
			'summary' => 'April 16: The government has appointed former secretary Sushil Ghimire as the executive chairman of Nepal Airlines Corporation. ',
			'content' => '<p><img alt="" src="/app/webroot/userfiles/images/nepal.jpg" style="height:356px; width:297px" /></p>

<p><span style="font-size:20px"><span style="font-family:Cambria"><span style="font-family:&quot;Arial Unicode MS&quot;">April 16: The government has appointed former secretary Sushil Ghimire as the executive chairman of Nepal Airlines Corporation (NAC). A meeting of the Council of Ministers on Tuesday took a decision to this effect, the national news agency RSS reported.&nbsp;&nbsp;&nbsp;&nbsp; </span><br />
<span style="font-family:&quot;Arial Unicode MS&quot;">Ghimire is a former secretary at the Ministry of Culture, Tourism and Civil Aviation.&nbsp;&nbsp;&nbsp;&nbsp; </span></span><br />
<span style="font-family:Cambria"><span style="font-family:&quot;Arial Unicode MS&quot;">The post of NAC chairman was lying vacant since the last three months after the resignation of the then chairman Madan Kharel. </span></span></span></p>

<p><span style="font-size:20px"><span style="font-family:Cambria"><span style="font-family:&quot;Arial Unicode MS&quot;">According to RSS, Ghimire was also in the team formed by Tourism Minister Yogesh Bhattarai for the study on management reform at NAC. </span></span></span></p>
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			'sortorder' => '11686',
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	(int) 14 => array(
		'Article' => array(
			'id' => '11935',
			'article_category_id' => '1',
			'title' => 'Labour Ministry Asks Finance Ministry to Contribute to SSF on behalf of Workers',
			'sub_title' => '',
			'summary' => 'April 15: The Ministry of Labour, Employment and Social Security has written to the Ministry of Finance to deposit the amounts of 33,000 contributors to the Social Security Fund (SSF) for the month of Chaitra (mid-March to mid-April). ',
			'content' => '<p><span style="font-size:20px"><span style="font-family:Times"><span style="font-family:&quot;Arial Unicode MS&quot;">April 15: The Ministry of Labour, Employment and Social Security has written to the Ministry of Finance to deposit the amounts of 33,000 contributors to the Social Security Fund (SSF) for the month of Chaitra (mid-March to mid-April). </span></span></span></p>

<p><span style="font-size:20px"><span style="font-family:Times"><span style="font-family:&quot;Arial Unicode MS&quot;">According to the labour ministry, it has requested the finance ministry to deposit Rs 880 million on behalf of 33,327 employees working in 861 different private organisations.</span></span></span></p>

<p><span style="font-size:20px"><span style="font-family:Times"><span style="font-family:&quot;Arial Unicode MS&quot;">The Social Security Fund has been collecting 11 percent of monthly salary of the employees in addition to 20 percent amount of their salary deposited by the employers in return for social security during times of crisis and after retirement. The government has made it mandatory for all private organisations to contribute to the fund, which promises pension to the employees and other benefits after retirement.</span></span></span></p>

<p><span style="font-size:20px"><span style="font-family:Times"><span style="font-family:&quot;Arial Unicode MS&quot;">Due to the ongoing crisis caused by the lockdown to contain the spread of the coronavirus, the government had pledged to deposit the amount for the month of Chaitra by itself on behalf of the private sector.</span></span></span></p>

<p><span style="font-size:20px"><span style="font-family:Times"><span style="font-family:&quot;Arial Unicode MS&quot;">The government had made such announcement a few weeks ago while unveiling the relief packages to the sectors affected by the impact of coronavirus, informed Suman Ghimire, joint secretary at the Ministry of Labour, Employment and Social Security.</span></span></span></p>

<p><span style="font-size:20px"><span style="font-family:Times"><span style="font-family:&quot;Arial Unicode MS&quot;">According to Ghimire, the finance ministry will deposit the amount in the SSF as per the recommendation of the labour ministry.</span></span></span></p>

<p>&nbsp;</p>
',
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			'created' => '2020-04-15',
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		'Article' => array(
			'id' => '11949',
			'article_category_id' => '1',
			'title' => 'Private Sector Employers ‘Not in a Condition’ to Pay Full Salary to Workers',
			'sub_title' => 'The law does not allow the companies from pay cuts just because their business have been affected for a few months. ',
			'summary' => 'April 19: Most of the industries and enterprises have stopped operation since the government imposed a lockdown on March 24 to prevent coronavirus from spreading. ',
			'content' => '<p><span style="font-size:20px"><span style="font-family:Times"><span style="font-family:&quot;Arial Unicode MS&quot;">April 19: Most of the industries and enterprises have stopped operation since the government imposed a lockdown on March 24 to prevent coronavirus from spreading. Private businesses as well as government office have remained shut due to the current crisis. </span></span></span></p>

<p><span style="font-size:20px"><span style="font-family:Times"><span style="font-family:&quot;Arial Unicode MS&quot;">In the first phase of relief announced by the government, it had clearly instructed the employers of the private sector to pay the salary of Chaitra (mid-March to mid-April) to the workers. However, the employers say have not been able to pay the salary of their staffers due to the extension of lockdown, which has affected their business. </span></span></span></p>

<p><span style="font-size:20px"><span style="font-family:Times"><span style="font-family:&quot;Arial Unicode MS&quot;">Umbrella organisations of the private sector are currently discussing how to address this problem. They are expected to come up with a solution by today (April 19).</span></span></span></p>

<p><span style="font-size:20px"><span style="font-family:Times"><span style="font-family:&quot;Arial Unicode MS&quot;">However, the credibility of established companies have been put into question for their reluctance to pay the staffers at time of crisis. The law does not allow the companies from pay cuts just because their business have been affected for a few months. But the companies are considering paying certain amount of salary instead of full pay, arguing that their business have come to a complete halt.</span></span></span></p>

<p><span style="font-size:20px"><span style="font-family:Times"><span style="font-family:&quot;Arial Unicode MS&quot;">Government employees get paid even if their office is opened or not. But the private sector employers argue that they can pay only by generating income. They say it is natural for them to struggle to pay the workers at a time when their businesses have come to a grinding halt.</span></span></span></p>

<p><span style="font-size:20px"><span style="font-family:Times"><span style="font-family:&quot;Arial Unicode MS&quot;">The Federation of Nepalese Chambers of Commerce and Industry, Confederation of Nepalese Industries and Nepal Chamber of Commerce are weighing various options regarding payment of workers. The umbrella bodies of the private sector have been discussing this issue since a week and are expected to finalize the modality of payment by Sunday (April 19).</span></span></span></p>

<p><span style="font-size:20px"><span style="font-family:Times"><span style="font-family:&quot;Arial Unicode MS&quot;">Vice President of NCC Rajendra Malla said that none of the businesses and industries are currently in a position to pay full salary to their staffers.</span></span></span></p>

<p><span style="font-size:20px"><span style="font-family:Times"><span style="font-family:&quot;Arial Unicode MS&quot;">&ldquo;We have tentatively decided to deduct the salary of workers depending on their pay. Those who earn low salary will see less deduction while those who make good income will be dealth accordingly,&rdquo; said Malla.</span></span></span></p>

<p>&nbsp;</p>
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			'sortorder' => '11699',
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			'id' => '11948',
			'article_category_id' => '1',
			'title' => 'No Penalty on Electricity Tariffs if Dues Cleared by May 20',
			'sub_title' => '',
			'summary' => 'April 19: The government has said that no one will be obliged to pay penalty on electricity tariffs if the consumers clear the dues of previous three months by May 20.   ',
			'content' => '<p><span style="font-size:20px"><span style="font-family:Cambria"><span style="font-family:&quot;Arial Unicode MS&quot;">April 19: The government has said that no one will be obliged to pay penalty on electricity tariffs if the consumers clear the dues of previous three months by May 20.&nbsp;&nbsp;&nbsp;&nbsp; </span><br />
<span style="font-family:&quot;Arial Unicode MS&quot;">Executive Director of Nepal Electricity Authority (NEA) Kulman Ghising said that a cabinet meeting held recently decided to waive off the penalty of previous three months if they pay the tariffs within the given date. The deadline could again be extended if the current lockdown order is extended to fight against COVID-19.&nbsp;&nbsp;&nbsp;&nbsp; </span><br />
<span style="font-family:&quot;Arial Unicode MS&quot;">To implement the cabinet decision taken on March 29, a meeting of the Board of Directors of NEA presided over by Energy Minister Barsha Man Pun took a decision to waive off the penalty.&nbsp;&nbsp;&nbsp;&nbsp; </span><br />
<span style="font-family:&quot;Arial Unicode MS&quot;">Minister Pun has also urged the public to clear the dues through online system and help in financial risk reduction of the NEA. </span><br />
<span style="font-family:&quot;Arial Unicode MS&quot;">Likewise, the NEA has decided to exempt two percent if the tariff of previous two months is cleared by May 19.&nbsp; -- RSS </span></span></span></p>
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			'sortorder' => '11698',
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			'id' => '11947',
			'article_category_id' => '1',
			'title' => 'One More Tests Positive in Udayapur ',
			'sub_title' => '',
			'summary' => 'April 19: The number of people infected with COVID-19 has reached 31 in Nepal.',
			'content' => '<p><span style="font-size:20px"><span style="font-family:Cambria">April 19: <span style="font-family:&quot;Arial Unicode MS&quot;">The number of people infected with COVID-19 has reached 31 in Nepal. One more person living in a mosque in Udayapur has tested positive, taking the total confirmed cases to 31, said Director of the Epidemiology and Communicable Disease Control Division Dr Basudev Pandey.&nbsp;&nbsp;&nbsp;&nbsp; </span><br />
<span style="font-family:&quot;Arial Unicode MS&quot;">It may be noted that 12 persons, all Indian nationals, living in the Udayapur mosque had tested positive on Friday. This takes the number of positive case to 13 in the mosque alone. The latest is a man of 65 years old. His nationality is not yet known.&nbsp;&nbsp;&nbsp;&nbsp; </span><br />
<span style="font-family:&quot;Arial Unicode MS&quot;">The latest case was confirmed at the Koshi Hospital, joint spokesperson at the Ministry of Health and Population Dr Sameer Adhikari said. Contact tracing of the infected ones has already begun. -- RSS</span></span></span></p>
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			'keywords' => '',
			'description' => '',
			'sortorder' => '11697',
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			'id' => '11946',
			'article_category_id' => '1',
			'title' => 'Hotel Industry Faces Loss of Rs 9 Billion ',
			'sub_title' => '',
			'summary' => 'April 17: The hotel industry of Nepal of Nepal has recorded loss of more than Rs 9 billion in the last three months due to the coronavirus pandemic. ',
			'content' => '<p><span style="font-size:20px"><span style="font-family:Times"><span style="font-family:Arial">April 17: The hotel industry of Nepal of Nepal has recorded loss of more than Rs 9 billion in the last three months due to the coronavirus pandemic. This sector has been the worst hit by the crisis, which emerged in late December last year from China and has now spread to 210 countries across the globe.</span></span></span></p>

<p><span style="font-size:20px"><span style="font-family:Times"><span style="font-family:Arial">&nbsp;Hotel entrepreneurs say that they had to bear the loss due to the cancellation of bookings as the number of tourists arriving in Nepal started decline with the growing impact of the pandemic. </span></span></span></p>

<p><span style="font-size:20px"><span style="font-family:Times"><span style="font-family:Arial">The hotel industry of Nepal witnessed large number of booking cancellation between January to March, which is considered the peak season for tourism.</span></span></span></p>

<p><span style="font-size:20px"><span style="font-family:Times"><span style="font-family:Arial">A preliminary study conducted by the Hotel Association of Nepal, the umbrella body of hotel entrepreneurs in the country, states that the hotel industry has been badly affected by the lack of tourists due to the coronavirus crisis and the subsequent lockdown imposed by the governments across the world, including Nepal.</span></span></span></p>

<p><span style="font-size:20px"><span style="font-family:Times"><span style="font-family:Arial">The hotel industry had invested heavily in the recent past as the country prepared to welcome a large number of tourists during the Visit Nepal 2020 campaign. New star-rated hotels in the capital and outside were emerging, targeting the government campaign. </span></span></span></p>

<p><span style="font-size:20px"><span style="font-family:Times"><span style="font-family:Arial">Kathmandu Marriott by MS Group, Vivanta by Chaudhary Group, Akama Hotel by Sanima Group are already in operation. Similarly, Hilton Hotel by Shanker Group and Sheraton Hotel by Non- Resident Nepali Association (NRNA) are under construction. </span></span></span></p>

<p><span style="font-size:20px"><span style="font-family:Times"><span style="font-family:Arial">Likewise, the existing hotels had also upgraded their services keeping in mind the VNY 2020 campaign.</span></span></span></p>

<p><span style="font-size:20px"><span style="font-family:Times"><span style="font-family:Arial">But the crisis of coronavirus came out of the blue at a time when this sector was witnessing heavy investment.</span></span></span></p>

<p><span style="font-size:20px"><span style="font-family:Times"><span style="font-family:Arial">According to the hotel entrepreneurs, this situation is more challenging than the 10-year Maoist insurgency, earthquake of 2015 and the economic blockade imposed by India. </span></span></span></p>

<p><span style="font-size:20px"><span style="font-family:Times"><span style="font-family:Arial">Managing fixed cost like employee&rsquo;s &nbsp;salary and payment of bank loan despite the zero arrival of tourists has been one of the biggest challenges for the hotel sector. The entrepreneurs say that uncertainty on the normalcy have made them more worried. </span></span></span></p>

<p><span style="font-size:20px"><span style="font-family:Times"><span style="font-family:Arial">According to Pravin Bahadur Pandey, executive director of Shangri-la hotel, it may take around one year to get back to normal business even after the outbreak comes under control. </span></span></span></p>

<p><span style="font-size:20px"><span style="font-family:Times"><span style="font-family:Arial">The entrepreneurs say that five-star hotels have been bearing loss of around Rs 100 million every month. </span></span></span></p>

<p><span style="font-size:20px"><span style="font-family:Times"><span style="font-family:Arial">&ldquo;We are facing loss of around Rs 100 million per month,&rdquo; said Pandey.&nbsp; </span></span></span></p>

<p><span style="font-size:20px"><span style="font-family:Times"><span style="font-family:Arial">Also, refunding of the bookings is another challenge entrepreneurs are currently facing.&nbsp; </span></span></span></p>

<p><span style="font-size:20px"><span style="font-family:Times"><span style="font-family:Arial">&ldquo;We need to refund 100 percent for the bookings made for September and October, which is the peak tourism season,&rdquo; said the entrepreneurs. </span></span></span></p>

<p><span style="font-size:20px"><span style="font-family:Times"><span style="font-family:Arial">Shashikant Agarwal of Marriott Hotel said that although all the hotel are facing problems, the ones which have taken high amount of loan targeting the Visit Nepal Year 2020 for infrastructure development are in trouble.</span></span></span></p>

<p><span style="font-size:20px"><span style="font-family:Times"><span style="font-family:Arial">Similarly, Binayak Shah, vice-president of HAN, said that the government should bring a concrete plan to revive the tourism sector in Nepal. </span></span></span></p>

<p><span style="font-size:20px"><span style="font-family:Times"><span style="font-family:Arial">According to HAN, government needs to give one year&rsquo;s time to pay the interest on loan, provide them subsidized loan, arrange relief for rent of six months and manage the payroll of one million employees and workers. </span></span></span></p>

<p><span style="font-size:20px"><span style="font-family:Times"><span style="font-family:Arial">Similarly, Agarwal of Marriott said that as it will take time to bounce back from the crisis, the government should address the concerns of &nbsp;the hotel and tourism sectors.</span></span></span></p>

<p><span style="font-size:20px"><span style="font-family:Times">&nbsp;</span></span></p>

<p>&nbsp;</p>
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		'Article' => array(
			'id' => '11944',
			'article_category_id' => '1',
			'title' => 'Lockdown Prevents 2 Companies from Issuing IPOs ',
			'sub_title' => '',
			'summary' => 'April 17: Two companies that had acquired permission to issue the Initial Public Offering (IPO) have not been able to issue them due to the extension of the lockdown imposed to contain the spread of coronavirus. ',
			'content' => '<p><span style="font-size:20px"><span style="font-family:Times"><span style="font-family:&quot;Arial Unicode MS&quot;">April 17: Two companies that had acquired permission to issue the Initial Public Offering (IPO) have not been able to issue them due to the extension of the lockdown imposed to contain the spread of coronavirus. </span></span></span></p>

<p><span style="font-size:20px"><span style="font-family:Times"><span style="font-family:&quot;Arial Unicode MS&quot;">NRN Infrastructure and Development Limited, a company promoted by the Non&nbsp; Residential Nepalis (NRNs) and NIC Asia Microfinance Company have not been able to issue their IPO due to the ongoing lockdown. </span></span></span></p>

<p><span style="font-size:20px"><span style="font-family:Times"><span style="font-family:&quot;Arial Unicode MS&quot;">Sanima Capital, which has been assigned to issue the IPOs of both the companies, has not been able to do so owing to the current crisis.</span></span></span></p>

<p><span style="font-size:20px"><span style="font-family:Times"><span style="font-family:&quot;Arial Unicode MS&quot;">Mandeep Luitel, investment banking chief of Sanima Capital, confirmed that the company has not been able to issue the IPOs because of the lockdown. According to him, NRN Infrastructure and Development Limited was due to issue the IPOs on April 10 while NIC Asia Microfinance was scheduled to issue the IPOs on April 14. But the process has been halted.</span></span></span></p>

<p><span style="font-size:20px"><span style="font-family:Times"><span style="font-family:&quot;Arial Unicode MS&quot;">The Securities Board of Nepal (SEBON) had approved the issuance of 33,98,046 units of IPO of NRN Infrastructure and Development Limited. The issued capital of the company is Rs 1.13 billion, out of which 30 percent share was to be opened for the general public. </span></span></span></p>

<p><span style="font-size:20px"><span style="font-family:Times"><span style="font-family:&quot;Arial Unicode MS&quot;">Likewise, NIC Asia Microfinance was set to issue IPOs worth Rs 470 million. Both the companies had received the approval more than a month ago.</span></span></span></p>

<p>&nbsp;</p>

<p>&nbsp;</p>
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		'Article' => array(
			'id' => '11943',
			'article_category_id' => '1',
			'title' => 'Insurance Board Directs Stakeholders to Issue COVID-19 Insurance Coverage   ',
			'sub_title' => '',
			'summary' => 'April 17: The Insurance Board has directed all stakeholder companies to issue coronavirus insurance scheme amid rising threats from the coronavirus pandemic.   ',
			'content' => '<p><span style="font-size:20px"><span style="font-family:Cambria"><span style="font-family:Arial">April 17: The Insurance Board has directed all stakeholder companies to issue coronavirus insurance scheme amid rising threats from the coronavirus pandemic.&nbsp;&nbsp; </span></span></span></p>

<p><span style="font-size:20px"><span style="font-family:Cambria"><span style="font-family:Arial">Till date, none of the insurance companies have any scheme to cover the risk of coronavirus. </span></span></span></p>

<p><span style="font-size:20px"><span style="font-family:Cambria"><span style="font-family:Arial">The Insurance Board issued a circular on Thursday stating that the new insurance policy will be categorized into two groups.</span></span></span></p>

<p><span style="font-size:20px"><span style="font-family:Cambria"><span style="font-family:Arial">In the first category, any person availing the insurance policy has to pay a premium of Rs 1000 for coverage up to Rs 100,000. Likewise, the insurance premium charge has been set up at Rs 600 if all members of the family subscribe to the insurance scheme.</span></span></span></p>

<p><span style="font-size:20px"><span style="font-family:Cambria"><span style="font-family:Arial">In the second category, the board has introduced another insurance scheme worth Rs 50,000 per person. To register for the scheme, an individual has to pay a premium of Rs 500 per person or Rs 300 for each member of the family.</span></span></span></p>

<p><span style="font-size:20px"><span style="font-family:Cambria"><span style="font-family:Arial">The scheme aims to cover people with low income affected by COVID-19, according to the board&rsquo;s executive director Raju Raman Poudel. </span></span></span></p>

<p><span style="font-size:20px"><span style="font-family:Cambria"><span style="font-family:Arial">&ldquo;Our aim is to provide insurance facility to people from low income grout. Therefore, this scheme has to be available in every village,&rdquo; Poudel told New Business Age.</span></span></span></p>

<p><span style="font-size:20px"><img alt="" src="/app/webroot/userfiles/images/insurence_notice.jpg" style="height:1554px; width:1216px" /></span></p>

<p>&nbsp;</p>

<p>&nbsp;</p>
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		'Article' => array(
			'id' => '11942',
			'article_category_id' => '1',
			'title' => 'Supreme Court Orders Government to Rescue Migrant Workers at Risk ',
			'sub_title' => '',
			'summary' => 'April 17: The Supreme Court has issued an interim order in the name of the government to rescue Nepali citizens living in vulnerable condition in foreign countries.',
			'content' => '<p><em>Flowers blooming on the premises of the Supreme Court in this recent picture. Photo Courtesy: Rss</em></p>

<p><span style="font-size:20px"><span style="font-family:Cambria"><span style="font-family:&quot;Arial Unicode MS&quot;">April 17: The Supreme Court has issued an interim order in the name of the government to rescue Nepali citizens living in vulnerable condition in foreign countries, the state-run national news agency RSS reported. </span></span></span></p>

<p><span style="font-size:20px"><span style="font-family:Cambria"><span style="font-family:&quot;Arial Unicode MS&quot;">According to RSS, a single bench of Justice Sapana Pradhan Malla on Thursday (April 16) directed the government to rescue the migrant workers.&nbsp;&nbsp;&nbsp;&nbsp; </span><br />
<span style="font-family:&quot;Arial Unicode MS&quot;">The apex court reportedly also asked the government to immediately prepare a report on the health status of the Nepali migrant workers in different countries hit by the COVID-19 pandemic. </span></span></span></p>

<p><span style="font-size:20px"><span style="font-family:Cambria"><span style="font-family:&quot;Arial Unicode MS&quot;">&quot;No matter where Nepalis are it is the duty of a legitimate government to address their health, security and other needs,&quot; RSS reported citing the order.&nbsp;&nbsp;&nbsp;&nbsp; </span><br />
<span style="font-family:&quot;Arial Unicode MS&quot;">The state cannot ignore a situation where the Nepali migrant workers, who have a significant contribution to the country&#39;s economy, lie in a very poor, unsafe and unhealthy situation after losing their job, reads the order. </span></span></span></p>

<p><span style="font-size:20px"><span style="font-family:Cambria"><span style="font-family:&quot;Arial Unicode MS&quot;">The bench further said that immediate and effective additional measures are warranted in the case of the citizens in foreign employment in the present situation of global crisis.&nbsp;&nbsp;&nbsp;&nbsp; </span><br />
<span style="font-family:&quot;Arial Unicode MS&quot;">The order comes in response to a writ petition filed on Wednesday by advocate Som Prasad Luintel, seeking court intervention to save the Nepali migrant workers from the possible risk of coronavirus. </span></span></span></p>
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			'published' => true,
			'created' => '2020-04-17',
			'modified' => '2020-04-17',
			'keywords' => '',
			'description' => '',
			'sortorder' => '11693',
			'image' => '20200417094838_CKC_ktm.jpg',
			'article_date' => '2020-04-17 09:47:10',
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	(int) 7 => array(
		'Article' => array(
			'id' => '11945',
			'article_category_id' => '1',
			'title' => 'No Case Filed against Sulav Agarwal at DAO yet',
			'sub_title' => '',
			'summary' => 'April 17: No case has yet been filed against Sulav Agrawal, director of Shankar Group, even though he was arrested more than a week ago for misusing his diplomatic number plate car for black marketing of infrared thermometers.',
			'content' => '<h1><span style="font-size:20px"><span style="font-family:&quot;Times New Roman&quot;">April 17: No case has yet been filed against Sulav Agrawal, director of Shankar Group, even though he was arrested more than a week ago for misusing his diplomatic number plate car for black marketing of infrared thermometers.</span></span></h1>

<h1><span style="font-size:20px"><span style="font-family:&quot;Times New Roman&quot;">The Metropolitan Police Range, Kathmandu has already submitted an investigation report to the District Attorney&rsquo;s Office, Kathmandu. The report suggests the government to punish Agrawal for misusing his diplomatic privilege despite, a police source informed New Business Age.</span></span></h1>

<h1><span style="font-size:20px"><span style="font-family:&quot;Times New Roman&quot;">However, no charge has been filed against Agarwal at the District Administration Office at a time when the courts are closed.</span></span></h1>

<h1><span style="font-size:20px"><span style="font-family:&quot;Times New Roman&quot;">Agrawal was arrested by an undercover team of the Metropolitan Crime Division of Nepal Police from Baluwatar on April 7 for attempting to sell the thermal guns at inflated price by misusing his diplomatic privilege. He was arrested red-handed from the car with diplomatic number plate.</span></span></h1>

<h1><span style="font-size:20px"><span style="font-family:&quot;Times New Roman&quot;">The District Administration Office had remanded Agarwal in custody for 12 days for investigation. The detention period is expiring on Saturday, April 18.</span></span></h1>

<h1><span style="font-size:20px"><span style="font-family:&quot;Times New Roman&quot;">Advocate of the District Attorney&rsquo;s Office, Shrijan Dhakal, informed New Business Age that the case has not yet been registered in the DAO because the investigation has not concluded.</span></span></h1>

<h1><span style="font-size:20px"><span style="font-family:&quot;Times New Roman&quot;">The police can keep an accused in custody for a maximum of 25 days in accordance to the law.</span></span></h1>

<h1>&nbsp;</h1>

<h1>&nbsp;</h1>

<h1>&nbsp;</h1>
',
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			'created' => '2020-04-17',
			'modified' => '2020-04-20',
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			'sortorder' => '11692',
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			'article_date' => '2020-04-17 12:36:49',
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	(int) 8 => array(
		'Article' => array(
			'id' => '11941',
			'article_category_id' => '1',
			'title' => 'NAC Aircraft with Medical Supplies Arrive from Guangzhou ',
			'sub_title' => '',
			'summary' => 'April 17: Two wide-body A-330 aircraft of Nepal Airlines Corporation have landed in Kathmandu with essential medical supplies for the fight against COVID-19.          ',
			'content' => '<p><span style="font-size:20px"><span style="font-family:Cambria"><span style="font-family:&quot;Arial Unicode MS&quot;">April 17: Two wide-body A-330 aircraft of Nepal Airlines Corporation have landed in Kathmandu with essential medical supplies for the fight against COVID-19.&nbsp;&nbsp;&nbsp;&nbsp; </span></span></span></p>

<p><span style="font-size:20px"><span style="font-family:Cambria"><span style="font-family:&quot;Arial Unicode MS&quot;">A source at the Tribhuvan International Airport said the two chartered aircraft landed at the airport on Friday morning. The quantity and type of medical supplies that have been brought from Guangzhou are yet to be known</span></span></span></p>

<p><span style="font-size:20px"><span style="font-family:Cambria"><span style="font-family:&quot;Arial Unicode MS&quot;">The aircraft of the national flag-carrier NAC had flown to China&rsquo;s Guangzhou on Thursday night to bring the medical kits and supplies. Two business groups had chartered the aircraft. Medical supplies were brought from Guangzhou on March 29 and April 2 as well. --RSS </span></span></span></p>
',
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			'sortorder' => '11691',
			'image' => '20200417094021_733_20180727021334_2.jpg',
			'article_date' => '2020-04-17 09:39:19',
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	(int) 9 => array(
		'Article' => array(
			'id' => '11939',
			'article_category_id' => '1',
			'title' => 'IMF Warns of “Great Recession”',
			'sub_title' => '',
			'summary' => 'April 16: The International Monetary Fund (IMF) has warned of great recession in a century and a dire outlook for the world economy ravaged by coronavirus in its latest report.',
			'content' => '<p><span style="font-size:20px"><span style="font-family:Times"><span style="font-family:Arial">April 16: The International Monetary Fund (IMF) has warned of great recession in a century and a dire outlook for the world economy ravaged by coronavirus in its latest report.</span></span></span></p>

<p><span style="font-size:20px"><span style="font-family:Times"><span style="font-family:Arial">According to Aljazeera, the World Economic Outlook released by the IMF on Tuesday paints a bleak picture of world economy and the manifold financial challenges facing low-income countries.</span></span></span></p>

<p><span style="font-size:20px"><span style="font-family:Cambria"><span style="font-family:Arial">The IMF said that the world economy&rsquo;s contraction and recovery would be worse than anticipated if the coronavirus lingers, Bloomberg reported.</span></span></span></p>

<p><span style="font-size:20px"><span style="font-family:Cambria"><span style="font-family:Arial">&quot;For low-income countries, the challenges of this crisis are manifold,&quot; IMF Chief Economist Geeta Gopinath reportedly said at a video conference briefing where she presented the report. &quot;They have to deal with health crises with health systems that are just not as strong.&quot;</span></span></span></p>

<p><span style="font-size:20px"><span style="font-family:Times"><span style="font-family:Arial">Titled The Great Lockdown, the IMF&#39;s latest report on the global economy described the coronavirus pandemic as a crisis &quot;like no other&quot; and predicted that world economic output will shrink by three percent this year, before experiencing a partial rebound next year.</span></span></span></p>

<p><span style="font-size:20px"><span style="font-family:Times"><span style="font-family:Arial">&quot;It is very likely that this year, the global economy will experience its worst recession since the Great Depression, surpassing that seen during the financial crisis a decade ago,&quot; Aljazeera quoted IMF Chief Economist Gita Gopinath as saying.</span></span></span></p>

<p><span style="font-size:20px"><span style="font-family:Times"><span style="font-family:Arial">IMF warned that there is extreme uncertainty around the global growth forecast. The economic fallout depends on factors that interact in ways that are hard to predict, the report said citing the pathway of the pandemic, the efficacy of containment measures, the intensity of supply chain disruptions, credit market freezes, commodity price impacts and changes in consumer behaviour.</span></span></span></p>

<p><span style="font-size:20px"><span style="font-family:Times"><span style="font-family:Arial">Under the IMF&rsquo;s best-case scenario, the world is likely to lose a cumulative $9 trillion in output over two years - greater than the combined gross domestic product (GDP) of Germany and Japan, said Gopinath.</span></span></span></p>

<p><span style="font-size:20px"><span style="font-family:Times"><span style="font-family:Arial">The IMF&#39;s forecasts assume that outbreaks of the novel coronavirus will peak in most countries during the second quarter and fade in the second half of the year, with business closures and other containment measures gradually unwound.</span></span></span></p>

<p><span style="font-size:20px"><span style="font-family:Times"><span style="font-family:Arial">A longer pandemic that lasts through the third quarter could cause a further three percent contraction in 2020 and a slower recovery in 2021, due to the &quot;scarring&quot; effects of bankruptcies and prolonged unemployment, the report said.</span></span></span></p>

<p><span style="font-size:20px"><span style="font-family:Cambria"><span style="font-family:Arial">Aljazeera further reported citing the IMF that emerging and developing economies face a litany of challenges from the coronavirus pandemic, ranging from underfunded healthcare systems and burdensome debt loads to high rates of unemployment. </span></span></span></p>

<p><span style="font-size:20px"><span style="font-family:Cambria"><span style="font-family:Arial">The report said that developing economies that are highly dependent on tourism will be hit particularly hard, while low-income countries where large portions of the working population depend on daily wages to survive require immediate intervention.</span></span></span></p>

<p><span style="font-size:20px"><span style="font-family:Cambria"><span style="font-family:Arial">&quot;It is important to do whatever it takes and that includes cash transfers, digital payment systems to reach those working for daily wages,&quot; Gopinath stressed.</span></span></span></p>

<p><span style="font-size:20px"><span style="font-family:Cambria"><span style="font-family:Arial">For low-income countries with high levels of debt, Gopinath stressed the importance for creditors to stand up and provide debt relief.</span></span></span></p>

<p><span style="font-size:20px"><span style="font-family:Cambria"><span style="font-family:Arial">&quot;This crisis is a truly exogenous shock,&quot; she said.</span></span></span></p>

<p>&nbsp;</p>
',
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	(int) 10 => array(
		'Article' => array(
			'id' => '11940',
			'article_category_id' => '1',
			'title' => 'Government Facing Mounting Challenges for Resource Management ',
			'sub_title' => '',
			'summary' => 'April 16: The government has decided to utilize the funds allocated under various headings to combat the current crisis of coronavirus pandemic. ',
			'content' => '<h1><span style="font-size:20px"><span style="font-family:&quot;Times New Roman&quot;">April 16: The government has decided to utilize the funds allocated under various headings to combat the current crisis of coronavirus pandemic. </span></span></h1>

<h1><span style="font-size:20px"><span style="font-family:&quot;Times New Roman&quot;">The government decided to mobilize internal resources as revenue collection has been shrinking due to the lockdown, which has created mounting challenges for resource management.</span></span></h1>

<h1><span style="font-size:20px"><span style="font-family:&quot;Times New Roman&quot;">In order to prevent the scarcity of resources, the government is preparing to utilize a budget of Rs 16 billion allocated for Nepal Telecom, Rs 3 billion for New Nepal Construction Fund and Disaster Relief Fund respectively.</span></span></h1>

<h1><span style="font-size:20px"><span style="font-family:&quot;Times New Roman&quot;">Deepak Subedi, secretary at the Ministry of Communication and Information Technology informed New Business Age that the Minister for Finance presented a proposal of utilizing various funds to the cabinet meeting on Tuesday. </span></span></h1>

<h1><span style="font-size:20px"><span style="font-family:&quot;Times New Roman&quot;">Minister for Finance Dr Yuba Raj Khatiwada during the cabinet meeting held on Tuesday, made such proposal &nbsp;due to the shrinking revenue collection.&nbsp;&nbsp; &nbsp;&nbsp;&nbsp;</span></span></h1>

<h1><span style="font-size:20px"><span style="font-family:&quot;Times New Roman&quot;">&quot;However, a decision on the proposal has been delayed because the chief secretary is yet to approve it. The media will be informed about the decision by tomorrow (Thursday),&quot; Subedi said.</span></span></h1>

<h1>&nbsp;</h1>

<h1>&nbsp;</h1>

<h1>&nbsp;</h1>

<h1>&nbsp;</h1>

<h1>&nbsp;</h1>

<h1>&nbsp;</h1>

<h1>&nbsp;</h1>

<h1>&nbsp;</h1>

<h1>&nbsp;</h1>

<h1>&nbsp;</h1>

<h1>&nbsp;</h1>

<h1>&nbsp;</h1>

<h1>&nbsp;</h1>

<h1>&nbsp;</h1>
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	(int) 11 => array(
		'Article' => array(
			'id' => '11937',
			'article_category_id' => '1',
			'title' => 'Business Community Discussing Ways to Pay Workers',
			'sub_title' => '',
			'summary' => 'April 16: The business community of Nepal has taken initiative to find ways for addressing the issue of workers’ payment in the context of coronavirus pandemic causing disruption to all economic activities.',
			'content' => '<p><span style="font-size:20px"><span style="font-family:Times"><span style="font-family:&quot;Arial Unicode MS&quot;">April 16: The business community of Nepal has taken initiative to find ways for addressing the issue of workers&rsquo; payment in the context of coronavirus pandemic causing disruption to all economic activities.</span></span></span></p>

<p><span style="font-size:20px"><span style="font-family:Times"><span style="font-family:&quot;Arial Unicode MS&quot;">Participants of a meeting organised by the Employers Council of the Federation of Nepalese Chambers of Commerce and Industry (FNCCI) agreed to decide on the payment of workers within a week and hold discussion in this regard with the government and the respective trade unions. Confederation of Nepalese Industries, Nepal Chamber of Commerce and Hotel Association of Nepal had participated in the meeting held on Tuesday.</span></span></span></p>

<p><span style="font-size:20px"><span style="font-family:Times"><span style="font-family:&quot;Arial Unicode MS&quot;">FNCCI President Bhavani Rana informed about the latest steps taken by the umbrella body to address the problems of paying the workers&rsquo; wages during a video conference organised by the Society of Economic Journalists of Nepal ( SEJON) on Wednesday.</span></span></span></p>

<p><span style="font-size:20px"><span style="font-family:Times"><span style="font-family:&quot;Arial Unicode MS&quot;">According to General Federation of Nepalese Trade Unions (GEFONT), there are altogether 3 to 3.5 million workers in the formal and informal sectors in the country. Hotel Association of Nepal informed that around 1 million people are employed by the hotel industry alone.</span></span></span></p>

<p><span style="font-size:20px"><span style="font-family:Times"><span style="font-family:&quot;Arial Unicode MS&quot;">Operation of most of the industries in the country have come to a standstill due to the fear of coronavirus while the hotel and tourism industries and the aviation sector have been badly affected by the pandemic.</span></span></span></p>

<p><span style="font-size:20px"><span style="font-family:Times"><span style="font-family:&quot;Arial Unicode MS&quot;">This has raised the question of pay-cuts by the employers. The domestic airline companies have already decided to hold the salary of their staffers, instructing some employees to take unpaid leave. Some have decided to pay half the salary during lockdown.</span></span></span></p>

<p><span style="font-size:20px"><span style="font-family:Times"><span style="font-family:&quot;Arial Unicode MS&quot;">The umbrella bodies of the private sector are in talks with the trade unions regarding the salary of the workers.</span></span></span></p>

<p><span style="font-size:20px"><span style="font-family:Times"><span style="font-family:&quot;Arial Unicode MS&quot;">Chairman of GEFONT Binod Shrestha informed New Business Age that they held discussions with the employers&rsquo; umbrella bodies a few days ago regarding payment of the workers. For the time being, both sides have agreed that the salary would be distributed in such a way that both the workers and the employers would not be overburdened by the decision, said Shrestha.</span></span></span></p>

<p><span style="font-size:20px"><span style="font-family:Times"><span style="font-family:&quot;Arial Unicode MS&quot;">During the meeting, some stakeholders reportedly expressed their inability to pay the workers from this month onward.</span></span></span></p>

<p><span style="font-size:20px"><span style="font-family:Times"><span style="font-family:&quot;Arial Unicode MS&quot;">Tuesday&rsquo;s meeting also decided to form a committee comprising of vice presidents of all the three umbrella bodies to prepare a report and present it to the government, informed Chandra Dhakal, vice president of FNCCI.</span></span></span></p>

<p><span style="font-size:20px"><span style="font-family:Times"><span style="font-family:&quot;Arial Unicode MS&quot;">Meanwhile, HAN has clearly stated that the hotel industry alone cannot pay the salaries of the staffers and the government must support them.</span></span></span></p>

<p><span style="font-size:20px"><span style="font-family:Times"><span style="font-family:&quot;Arial Unicode MS&quot;">FNCCI on the other hand has demanded concessional loan for the sectors affected by coronavirus to pay the workers.</span></span></span></p>

<p><span style="font-size:20px"><span style="font-family:Times"><span style="font-family:&quot;Arial Unicode MS&quot;">CNI President Satish Kumar Moore said that although the government has assured the industrial sector of facilitating them to restart their works, the employees are not willing to join work fearing the disease. He said that the government must now collaborate in providing salary to the workers who are willing to join office and not the others.</span></span></span></p>

<p><span style="font-size:20px"><span style="font-family:Times"><span style="font-family:&quot;Arial Unicode MS&quot;">&nbsp;FNCCI President Bhavani Rana said that the private sector is at present concerned about sustaining their business rather than making profit. She said that all the sectors have joined hands to seek support from the government to bring the economy back on track.</span></span></span></p>

<p><span style="font-size:20px"><span style="font-family:Times"><span style="font-family:&quot;Arial Unicode MS&quot;">Stakeholders said that the government should not delay in bringing relief packages. They also opined that &ldquo;all industries should not be kept in the same basket&rdquo;. The government should support the industries and enterprises as per the nature of their business, they said.</span></span></span></p>

<p>&nbsp;</p>
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		'Article' => array(
			'id' => '11936',
			'article_category_id' => '1',
			'title' => 'Prices of Consumable Goods Up due to Rise in Transportation Fare',
			'sub_title' => '',
			'summary' => 'April 16: The prices of daily essentials including rice, edible oil and other food products have increased in the market due to the lockdown.',
			'content' => '<p><span style="font-size:20px"><span style="font-family:Times"><span style="font-family:&quot;Arial Unicode MS&quot;">April 16: The prices of daily essentials including rice, edible oil and other food products have increased in the market due to the lockdown despite government&rsquo;s assurance that it would not let the price increase. The government had claimed that it would ensure smooth supply of daily essentials thereby keeping inflation at the bay. </span></span></span></p>

<p><span style="font-size:20px"><span style="font-family:Times"><span style="font-family:&quot;Arial Unicode MS&quot;">However, the local businessmen have increased the prices of consumable goods citing increase in transportation cost. Businessmen have admitted that they are forced to sell the products at a higher price as they have been bearing transportation cost much more than during normal days.</span></span></span></p>

<p><span style="font-size:20px"><span style="font-family:Times"><span style="font-family:&quot;Arial Unicode MS&quot;">All types of lentil has seen an increase of Rs 20 to Rs 30 per kg since the lockdown was imposed. Likewise, the price of a sack of rice has increased by at least Rs 100 in the recent days, informed Raj Kumar Shrestha, chairman of Retail Market Association. He said that they have been forced to sell sunflower and soybean oil at Rs 20 higher than the normal price.</span></span></span></p>

<p><span style="font-size:20px"><span style="font-family:Times"><span style="font-family:&quot;Arial Unicode MS&quot;">Prices of other consumable items have also been increased in the same ratio, said Shrestha.</span></span></span></p>

<p><span style="font-size:20px"><span style="font-family:Times"><span style="font-family:&quot;Arial Unicode MS&quot;">Devendra Bhakta Shrestha, a food dealer, says that the transportation companies have been charging them additional fare to transport the goods. Therefore, the prices have shot up in the recent days.</span></span></span></p>
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			'created' => '2020-04-16',
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	(int) 13 => array(
		'Article' => array(
			'id' => '11938',
			'article_category_id' => '1',
			'title' => 'Ghimire Appointed NAC Chair',
			'sub_title' => '',
			'summary' => 'April 16: The government has appointed former secretary Sushil Ghimire as the executive chairman of Nepal Airlines Corporation. ',
			'content' => '<p><img alt="" src="/app/webroot/userfiles/images/nepal.jpg" style="height:356px; width:297px" /></p>

<p><span style="font-size:20px"><span style="font-family:Cambria"><span style="font-family:&quot;Arial Unicode MS&quot;">April 16: The government has appointed former secretary Sushil Ghimire as the executive chairman of Nepal Airlines Corporation (NAC). A meeting of the Council of Ministers on Tuesday took a decision to this effect, the national news agency RSS reported.&nbsp;&nbsp;&nbsp;&nbsp; </span><br />
<span style="font-family:&quot;Arial Unicode MS&quot;">Ghimire is a former secretary at the Ministry of Culture, Tourism and Civil Aviation.&nbsp;&nbsp;&nbsp;&nbsp; </span></span><br />
<span style="font-family:Cambria"><span style="font-family:&quot;Arial Unicode MS&quot;">The post of NAC chairman was lying vacant since the last three months after the resignation of the then chairman Madan Kharel. </span></span></span></p>

<p><span style="font-size:20px"><span style="font-family:Cambria"><span style="font-family:&quot;Arial Unicode MS&quot;">According to RSS, Ghimire was also in the team formed by Tourism Minister Yogesh Bhattarai for the study on management reform at NAC. </span></span></span></p>
',
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			'sortorder' => '11686',
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	(int) 14 => array(
		'Article' => array(
			'id' => '11935',
			'article_category_id' => '1',
			'title' => 'Labour Ministry Asks Finance Ministry to Contribute to SSF on behalf of Workers',
			'sub_title' => '',
			'summary' => 'April 15: The Ministry of Labour, Employment and Social Security has written to the Ministry of Finance to deposit the amounts of 33,000 contributors to the Social Security Fund (SSF) for the month of Chaitra (mid-March to mid-April). ',
			'content' => '<p><span style="font-size:20px"><span style="font-family:Times"><span style="font-family:&quot;Arial Unicode MS&quot;">April 15: The Ministry of Labour, Employment and Social Security has written to the Ministry of Finance to deposit the amounts of 33,000 contributors to the Social Security Fund (SSF) for the month of Chaitra (mid-March to mid-April). </span></span></span></p>

<p><span style="font-size:20px"><span style="font-family:Times"><span style="font-family:&quot;Arial Unicode MS&quot;">According to the labour ministry, it has requested the finance ministry to deposit Rs 880 million on behalf of 33,327 employees working in 861 different private organisations.</span></span></span></p>

<p><span style="font-size:20px"><span style="font-family:Times"><span style="font-family:&quot;Arial Unicode MS&quot;">The Social Security Fund has been collecting 11 percent of monthly salary of the employees in addition to 20 percent amount of their salary deposited by the employers in return for social security during times of crisis and after retirement. The government has made it mandatory for all private organisations to contribute to the fund, which promises pension to the employees and other benefits after retirement.</span></span></span></p>

<p><span style="font-size:20px"><span style="font-family:Times"><span style="font-family:&quot;Arial Unicode MS&quot;">Due to the ongoing crisis caused by the lockdown to contain the spread of the coronavirus, the government had pledged to deposit the amount for the month of Chaitra by itself on behalf of the private sector.</span></span></span></p>

<p><span style="font-size:20px"><span style="font-family:Times"><span style="font-family:&quot;Arial Unicode MS&quot;">The government had made such announcement a few weeks ago while unveiling the relief packages to the sectors affected by the impact of coronavirus, informed Suman Ghimire, joint secretary at the Ministry of Labour, Employment and Social Security.</span></span></span></p>

<p><span style="font-size:20px"><span style="font-family:Times"><span style="font-family:&quot;Arial Unicode MS&quot;">According to Ghimire, the finance ministry will deposit the amount in the SSF as per the recommendation of the labour ministry.</span></span></span></p>

<p>&nbsp;</p>
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		'Article' => array(
			'id' => '11949',
			'article_category_id' => '1',
			'title' => 'Private Sector Employers ‘Not in a Condition’ to Pay Full Salary to Workers',
			'sub_title' => 'The law does not allow the companies from pay cuts just because their business have been affected for a few months. ',
			'summary' => 'April 19: Most of the industries and enterprises have stopped operation since the government imposed a lockdown on March 24 to prevent coronavirus from spreading. ',
			'content' => '<p><span style="font-size:20px"><span style="font-family:Times"><span style="font-family:&quot;Arial Unicode MS&quot;">April 19: Most of the industries and enterprises have stopped operation since the government imposed a lockdown on March 24 to prevent coronavirus from spreading. Private businesses as well as government office have remained shut due to the current crisis. </span></span></span></p>

<p><span style="font-size:20px"><span style="font-family:Times"><span style="font-family:&quot;Arial Unicode MS&quot;">In the first phase of relief announced by the government, it had clearly instructed the employers of the private sector to pay the salary of Chaitra (mid-March to mid-April) to the workers. However, the employers say have not been able to pay the salary of their staffers due to the extension of lockdown, which has affected their business. </span></span></span></p>

<p><span style="font-size:20px"><span style="font-family:Times"><span style="font-family:&quot;Arial Unicode MS&quot;">Umbrella organisations of the private sector are currently discussing how to address this problem. They are expected to come up with a solution by today (April 19).</span></span></span></p>

<p><span style="font-size:20px"><span style="font-family:Times"><span style="font-family:&quot;Arial Unicode MS&quot;">However, the credibility of established companies have been put into question for their reluctance to pay the staffers at time of crisis. The law does not allow the companies from pay cuts just because their business have been affected for a few months. But the companies are considering paying certain amount of salary instead of full pay, arguing that their business have come to a complete halt.</span></span></span></p>

<p><span style="font-size:20px"><span style="font-family:Times"><span style="font-family:&quot;Arial Unicode MS&quot;">Government employees get paid even if their office is opened or not. But the private sector employers argue that they can pay only by generating income. They say it is natural for them to struggle to pay the workers at a time when their businesses have come to a grinding halt.</span></span></span></p>

<p><span style="font-size:20px"><span style="font-family:Times"><span style="font-family:&quot;Arial Unicode MS&quot;">The Federation of Nepalese Chambers of Commerce and Industry, Confederation of Nepalese Industries and Nepal Chamber of Commerce are weighing various options regarding payment of workers. The umbrella bodies of the private sector have been discussing this issue since a week and are expected to finalize the modality of payment by Sunday (April 19).</span></span></span></p>

<p><span style="font-size:20px"><span style="font-family:Times"><span style="font-family:&quot;Arial Unicode MS&quot;">Vice President of NCC Rajendra Malla said that none of the businesses and industries are currently in a position to pay full salary to their staffers.</span></span></span></p>

<p><span style="font-size:20px"><span style="font-family:Times"><span style="font-family:&quot;Arial Unicode MS&quot;">&ldquo;We have tentatively decided to deduct the salary of workers depending on their pay. Those who earn low salary will see less deduction while those who make good income will be dealth accordingly,&rdquo; said Malla.</span></span></span></p>

<p>&nbsp;</p>
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			'id' => '11948',
			'article_category_id' => '1',
			'title' => 'No Penalty on Electricity Tariffs if Dues Cleared by May 20',
			'sub_title' => '',
			'summary' => 'April 19: The government has said that no one will be obliged to pay penalty on electricity tariffs if the consumers clear the dues of previous three months by May 20.   ',
			'content' => '<p><span style="font-size:20px"><span style="font-family:Cambria"><span style="font-family:&quot;Arial Unicode MS&quot;">April 19: The government has said that no one will be obliged to pay penalty on electricity tariffs if the consumers clear the dues of previous three months by May 20.&nbsp;&nbsp;&nbsp;&nbsp; </span><br />
<span style="font-family:&quot;Arial Unicode MS&quot;">Executive Director of Nepal Electricity Authority (NEA) Kulman Ghising said that a cabinet meeting held recently decided to waive off the penalty of previous three months if they pay the tariffs within the given date. The deadline could again be extended if the current lockdown order is extended to fight against COVID-19.&nbsp;&nbsp;&nbsp;&nbsp; </span><br />
<span style="font-family:&quot;Arial Unicode MS&quot;">To implement the cabinet decision taken on March 29, a meeting of the Board of Directors of NEA presided over by Energy Minister Barsha Man Pun took a decision to waive off the penalty.&nbsp;&nbsp;&nbsp;&nbsp; </span><br />
<span style="font-family:&quot;Arial Unicode MS&quot;">Minister Pun has also urged the public to clear the dues through online system and help in financial risk reduction of the NEA. </span><br />
<span style="font-family:&quot;Arial Unicode MS&quot;">Likewise, the NEA has decided to exempt two percent if the tariff of previous two months is cleared by May 19.&nbsp; -- RSS </span></span></span></p>
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			'id' => '11947',
			'article_category_id' => '1',
			'title' => 'One More Tests Positive in Udayapur ',
			'sub_title' => '',
			'summary' => 'April 19: The number of people infected with COVID-19 has reached 31 in Nepal.',
			'content' => '<p><span style="font-size:20px"><span style="font-family:Cambria">April 19: <span style="font-family:&quot;Arial Unicode MS&quot;">The number of people infected with COVID-19 has reached 31 in Nepal. One more person living in a mosque in Udayapur has tested positive, taking the total confirmed cases to 31, said Director of the Epidemiology and Communicable Disease Control Division Dr Basudev Pandey.&nbsp;&nbsp;&nbsp;&nbsp; </span><br />
<span style="font-family:&quot;Arial Unicode MS&quot;">It may be noted that 12 persons, all Indian nationals, living in the Udayapur mosque had tested positive on Friday. This takes the number of positive case to 13 in the mosque alone. The latest is a man of 65 years old. His nationality is not yet known.&nbsp;&nbsp;&nbsp;&nbsp; </span><br />
<span style="font-family:&quot;Arial Unicode MS&quot;">The latest case was confirmed at the Koshi Hospital, joint spokesperson at the Ministry of Health and Population Dr Sameer Adhikari said. Contact tracing of the infected ones has already begun. -- RSS</span></span></span></p>
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			'created' => '2020-04-19',
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			'keywords' => '',
			'description' => '',
			'sortorder' => '11697',
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			'id' => '11946',
			'article_category_id' => '1',
			'title' => 'Hotel Industry Faces Loss of Rs 9 Billion ',
			'sub_title' => '',
			'summary' => 'April 17: The hotel industry of Nepal of Nepal has recorded loss of more than Rs 9 billion in the last three months due to the coronavirus pandemic. ',
			'content' => '<p><span style="font-size:20px"><span style="font-family:Times"><span style="font-family:Arial">April 17: The hotel industry of Nepal of Nepal has recorded loss of more than Rs 9 billion in the last three months due to the coronavirus pandemic. This sector has been the worst hit by the crisis, which emerged in late December last year from China and has now spread to 210 countries across the globe.</span></span></span></p>

<p><span style="font-size:20px"><span style="font-family:Times"><span style="font-family:Arial">&nbsp;Hotel entrepreneurs say that they had to bear the loss due to the cancellation of bookings as the number of tourists arriving in Nepal started decline with the growing impact of the pandemic. </span></span></span></p>

<p><span style="font-size:20px"><span style="font-family:Times"><span style="font-family:Arial">The hotel industry of Nepal witnessed large number of booking cancellation between January to March, which is considered the peak season for tourism.</span></span></span></p>

<p><span style="font-size:20px"><span style="font-family:Times"><span style="font-family:Arial">A preliminary study conducted by the Hotel Association of Nepal, the umbrella body of hotel entrepreneurs in the country, states that the hotel industry has been badly affected by the lack of tourists due to the coronavirus crisis and the subsequent lockdown imposed by the governments across the world, including Nepal.</span></span></span></p>

<p><span style="font-size:20px"><span style="font-family:Times"><span style="font-family:Arial">The hotel industry had invested heavily in the recent past as the country prepared to welcome a large number of tourists during the Visit Nepal 2020 campaign. New star-rated hotels in the capital and outside were emerging, targeting the government campaign. </span></span></span></p>

<p><span style="font-size:20px"><span style="font-family:Times"><span style="font-family:Arial">Kathmandu Marriott by MS Group, Vivanta by Chaudhary Group, Akama Hotel by Sanima Group are already in operation. Similarly, Hilton Hotel by Shanker Group and Sheraton Hotel by Non- Resident Nepali Association (NRNA) are under construction. </span></span></span></p>

<p><span style="font-size:20px"><span style="font-family:Times"><span style="font-family:Arial">Likewise, the existing hotels had also upgraded their services keeping in mind the VNY 2020 campaign.</span></span></span></p>

<p><span style="font-size:20px"><span style="font-family:Times"><span style="font-family:Arial">But the crisis of coronavirus came out of the blue at a time when this sector was witnessing heavy investment.</span></span></span></p>

<p><span style="font-size:20px"><span style="font-family:Times"><span style="font-family:Arial">According to the hotel entrepreneurs, this situation is more challenging than the 10-year Maoist insurgency, earthquake of 2015 and the economic blockade imposed by India. </span></span></span></p>

<p><span style="font-size:20px"><span style="font-family:Times"><span style="font-family:Arial">Managing fixed cost like employee&rsquo;s &nbsp;salary and payment of bank loan despite the zero arrival of tourists has been one of the biggest challenges for the hotel sector. The entrepreneurs say that uncertainty on the normalcy have made them more worried. </span></span></span></p>

<p><span style="font-size:20px"><span style="font-family:Times"><span style="font-family:Arial">According to Pravin Bahadur Pandey, executive director of Shangri-la hotel, it may take around one year to get back to normal business even after the outbreak comes under control. </span></span></span></p>

<p><span style="font-size:20px"><span style="font-family:Times"><span style="font-family:Arial">The entrepreneurs say that five-star hotels have been bearing loss of around Rs 100 million every month. </span></span></span></p>

<p><span style="font-size:20px"><span style="font-family:Times"><span style="font-family:Arial">&ldquo;We are facing loss of around Rs 100 million per month,&rdquo; said Pandey.&nbsp; </span></span></span></p>

<p><span style="font-size:20px"><span style="font-family:Times"><span style="font-family:Arial">Also, refunding of the bookings is another challenge entrepreneurs are currently facing.&nbsp; </span></span></span></p>

<p><span style="font-size:20px"><span style="font-family:Times"><span style="font-family:Arial">&ldquo;We need to refund 100 percent for the bookings made for September and October, which is the peak tourism season,&rdquo; said the entrepreneurs. </span></span></span></p>

<p><span style="font-size:20px"><span style="font-family:Times"><span style="font-family:Arial">Shashikant Agarwal of Marriott Hotel said that although all the hotel are facing problems, the ones which have taken high amount of loan targeting the Visit Nepal Year 2020 for infrastructure development are in trouble.</span></span></span></p>

<p><span style="font-size:20px"><span style="font-family:Times"><span style="font-family:Arial">Similarly, Binayak Shah, vice-president of HAN, said that the government should bring a concrete plan to revive the tourism sector in Nepal. </span></span></span></p>

<p><span style="font-size:20px"><span style="font-family:Times"><span style="font-family:Arial">According to HAN, government needs to give one year&rsquo;s time to pay the interest on loan, provide them subsidized loan, arrange relief for rent of six months and manage the payroll of one million employees and workers. </span></span></span></p>

<p><span style="font-size:20px"><span style="font-family:Times"><span style="font-family:Arial">Similarly, Agarwal of Marriott said that as it will take time to bounce back from the crisis, the government should address the concerns of &nbsp;the hotel and tourism sectors.</span></span></span></p>

<p><span style="font-size:20px"><span style="font-family:Times">&nbsp;</span></span></p>

<p>&nbsp;</p>
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		'Article' => array(
			'id' => '11944',
			'article_category_id' => '1',
			'title' => 'Lockdown Prevents 2 Companies from Issuing IPOs ',
			'sub_title' => '',
			'summary' => 'April 17: Two companies that had acquired permission to issue the Initial Public Offering (IPO) have not been able to issue them due to the extension of the lockdown imposed to contain the spread of coronavirus. ',
			'content' => '<p><span style="font-size:20px"><span style="font-family:Times"><span style="font-family:&quot;Arial Unicode MS&quot;">April 17: Two companies that had acquired permission to issue the Initial Public Offering (IPO) have not been able to issue them due to the extension of the lockdown imposed to contain the spread of coronavirus. </span></span></span></p>

<p><span style="font-size:20px"><span style="font-family:Times"><span style="font-family:&quot;Arial Unicode MS&quot;">NRN Infrastructure and Development Limited, a company promoted by the Non&nbsp; Residential Nepalis (NRNs) and NIC Asia Microfinance Company have not been able to issue their IPO due to the ongoing lockdown. </span></span></span></p>

<p><span style="font-size:20px"><span style="font-family:Times"><span style="font-family:&quot;Arial Unicode MS&quot;">Sanima Capital, which has been assigned to issue the IPOs of both the companies, has not been able to do so owing to the current crisis.</span></span></span></p>

<p><span style="font-size:20px"><span style="font-family:Times"><span style="font-family:&quot;Arial Unicode MS&quot;">Mandeep Luitel, investment banking chief of Sanima Capital, confirmed that the company has not been able to issue the IPOs because of the lockdown. According to him, NRN Infrastructure and Development Limited was due to issue the IPOs on April 10 while NIC Asia Microfinance was scheduled to issue the IPOs on April 14. But the process has been halted.</span></span></span></p>

<p><span style="font-size:20px"><span style="font-family:Times"><span style="font-family:&quot;Arial Unicode MS&quot;">The Securities Board of Nepal (SEBON) had approved the issuance of 33,98,046 units of IPO of NRN Infrastructure and Development Limited. The issued capital of the company is Rs 1.13 billion, out of which 30 percent share was to be opened for the general public. </span></span></span></p>

<p><span style="font-size:20px"><span style="font-family:Times"><span style="font-family:&quot;Arial Unicode MS&quot;">Likewise, NIC Asia Microfinance was set to issue IPOs worth Rs 470 million. Both the companies had received the approval more than a month ago.</span></span></span></p>

<p>&nbsp;</p>

<p>&nbsp;</p>
',
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		'Article' => array(
			'id' => '11943',
			'article_category_id' => '1',
			'title' => 'Insurance Board Directs Stakeholders to Issue COVID-19 Insurance Coverage   ',
			'sub_title' => '',
			'summary' => 'April 17: The Insurance Board has directed all stakeholder companies to issue coronavirus insurance scheme amid rising threats from the coronavirus pandemic.   ',
			'content' => '<p><span style="font-size:20px"><span style="font-family:Cambria"><span style="font-family:Arial">April 17: The Insurance Board has directed all stakeholder companies to issue coronavirus insurance scheme amid rising threats from the coronavirus pandemic.&nbsp;&nbsp; </span></span></span></p>

<p><span style="font-size:20px"><span style="font-family:Cambria"><span style="font-family:Arial">Till date, none of the insurance companies have any scheme to cover the risk of coronavirus. </span></span></span></p>

<p><span style="font-size:20px"><span style="font-family:Cambria"><span style="font-family:Arial">The Insurance Board issued a circular on Thursday stating that the new insurance policy will be categorized into two groups.</span></span></span></p>

<p><span style="font-size:20px"><span style="font-family:Cambria"><span style="font-family:Arial">In the first category, any person availing the insurance policy has to pay a premium of Rs 1000 for coverage up to Rs 100,000. Likewise, the insurance premium charge has been set up at Rs 600 if all members of the family subscribe to the insurance scheme.</span></span></span></p>

<p><span style="font-size:20px"><span style="font-family:Cambria"><span style="font-family:Arial">In the second category, the board has introduced another insurance scheme worth Rs 50,000 per person. To register for the scheme, an individual has to pay a premium of Rs 500 per person or Rs 300 for each member of the family.</span></span></span></p>

<p><span style="font-size:20px"><span style="font-family:Cambria"><span style="font-family:Arial">The scheme aims to cover people with low income affected by COVID-19, according to the board&rsquo;s executive director Raju Raman Poudel. </span></span></span></p>

<p><span style="font-size:20px"><span style="font-family:Cambria"><span style="font-family:Arial">&ldquo;Our aim is to provide insurance facility to people from low income grout. Therefore, this scheme has to be available in every village,&rdquo; Poudel told New Business Age.</span></span></span></p>

<p><span style="font-size:20px"><img alt="" src="/app/webroot/userfiles/images/insurence_notice.jpg" style="height:1554px; width:1216px" /></span></p>

<p>&nbsp;</p>

<p>&nbsp;</p>
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		'Article' => array(
			'id' => '11942',
			'article_category_id' => '1',
			'title' => 'Supreme Court Orders Government to Rescue Migrant Workers at Risk ',
			'sub_title' => '',
			'summary' => 'April 17: The Supreme Court has issued an interim order in the name of the government to rescue Nepali citizens living in vulnerable condition in foreign countries.',
			'content' => '<p><em>Flowers blooming on the premises of the Supreme Court in this recent picture. Photo Courtesy: Rss</em></p>

<p><span style="font-size:20px"><span style="font-family:Cambria"><span style="font-family:&quot;Arial Unicode MS&quot;">April 17: The Supreme Court has issued an interim order in the name of the government to rescue Nepali citizens living in vulnerable condition in foreign countries, the state-run national news agency RSS reported. </span></span></span></p>

<p><span style="font-size:20px"><span style="font-family:Cambria"><span style="font-family:&quot;Arial Unicode MS&quot;">According to RSS, a single bench of Justice Sapana Pradhan Malla on Thursday (April 16) directed the government to rescue the migrant workers.&nbsp;&nbsp;&nbsp;&nbsp; </span><br />
<span style="font-family:&quot;Arial Unicode MS&quot;">The apex court reportedly also asked the government to immediately prepare a report on the health status of the Nepali migrant workers in different countries hit by the COVID-19 pandemic. </span></span></span></p>

<p><span style="font-size:20px"><span style="font-family:Cambria"><span style="font-family:&quot;Arial Unicode MS&quot;">&quot;No matter where Nepalis are it is the duty of a legitimate government to address their health, security and other needs,&quot; RSS reported citing the order.&nbsp;&nbsp;&nbsp;&nbsp; </span><br />
<span style="font-family:&quot;Arial Unicode MS&quot;">The state cannot ignore a situation where the Nepali migrant workers, who have a significant contribution to the country&#39;s economy, lie in a very poor, unsafe and unhealthy situation after losing their job, reads the order. </span></span></span></p>

<p><span style="font-size:20px"><span style="font-family:Cambria"><span style="font-family:&quot;Arial Unicode MS&quot;">The bench further said that immediate and effective additional measures are warranted in the case of the citizens in foreign employment in the present situation of global crisis.&nbsp;&nbsp;&nbsp;&nbsp; </span><br />
<span style="font-family:&quot;Arial Unicode MS&quot;">The order comes in response to a writ petition filed on Wednesday by advocate Som Prasad Luintel, seeking court intervention to save the Nepali migrant workers from the possible risk of coronavirus. </span></span></span></p>
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		'Article' => array(
			'id' => '11945',
			'article_category_id' => '1',
			'title' => 'No Case Filed against Sulav Agarwal at DAO yet',
			'sub_title' => '',
			'summary' => 'April 17: No case has yet been filed against Sulav Agrawal, director of Shankar Group, even though he was arrested more than a week ago for misusing his diplomatic number plate car for black marketing of infrared thermometers.',
			'content' => '<h1><span style="font-size:20px"><span style="font-family:&quot;Times New Roman&quot;">April 17: No case has yet been filed against Sulav Agrawal, director of Shankar Group, even though he was arrested more than a week ago for misusing his diplomatic number plate car for black marketing of infrared thermometers.</span></span></h1>

<h1><span style="font-size:20px"><span style="font-family:&quot;Times New Roman&quot;">The Metropolitan Police Range, Kathmandu has already submitted an investigation report to the District Attorney&rsquo;s Office, Kathmandu. The report suggests the government to punish Agrawal for misusing his diplomatic privilege despite, a police source informed New Business Age.</span></span></h1>

<h1><span style="font-size:20px"><span style="font-family:&quot;Times New Roman&quot;">However, no charge has been filed against Agarwal at the District Administration Office at a time when the courts are closed.</span></span></h1>

<h1><span style="font-size:20px"><span style="font-family:&quot;Times New Roman&quot;">Agrawal was arrested by an undercover team of the Metropolitan Crime Division of Nepal Police from Baluwatar on April 7 for attempting to sell the thermal guns at inflated price by misusing his diplomatic privilege. He was arrested red-handed from the car with diplomatic number plate.</span></span></h1>

<h1><span style="font-size:20px"><span style="font-family:&quot;Times New Roman&quot;">The District Administration Office had remanded Agarwal in custody for 12 days for investigation. The detention period is expiring on Saturday, April 18.</span></span></h1>

<h1><span style="font-size:20px"><span style="font-family:&quot;Times New Roman&quot;">Advocate of the District Attorney&rsquo;s Office, Shrijan Dhakal, informed New Business Age that the case has not yet been registered in the DAO because the investigation has not concluded.</span></span></h1>

<h1><span style="font-size:20px"><span style="font-family:&quot;Times New Roman&quot;">The police can keep an accused in custody for a maximum of 25 days in accordance to the law.</span></span></h1>

<h1>&nbsp;</h1>

<h1>&nbsp;</h1>

<h1>&nbsp;</h1>
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		'Article' => array(
			'id' => '11941',
			'article_category_id' => '1',
			'title' => 'NAC Aircraft with Medical Supplies Arrive from Guangzhou ',
			'sub_title' => '',
			'summary' => 'April 17: Two wide-body A-330 aircraft of Nepal Airlines Corporation have landed in Kathmandu with essential medical supplies for the fight against COVID-19.          ',
			'content' => '<p><span style="font-size:20px"><span style="font-family:Cambria"><span style="font-family:&quot;Arial Unicode MS&quot;">April 17: Two wide-body A-330 aircraft of Nepal Airlines Corporation have landed in Kathmandu with essential medical supplies for the fight against COVID-19.&nbsp;&nbsp;&nbsp;&nbsp; </span></span></span></p>

<p><span style="font-size:20px"><span style="font-family:Cambria"><span style="font-family:&quot;Arial Unicode MS&quot;">A source at the Tribhuvan International Airport said the two chartered aircraft landed at the airport on Friday morning. The quantity and type of medical supplies that have been brought from Guangzhou are yet to be known</span></span></span></p>

<p><span style="font-size:20px"><span style="font-family:Cambria"><span style="font-family:&quot;Arial Unicode MS&quot;">The aircraft of the national flag-carrier NAC had flown to China&rsquo;s Guangzhou on Thursday night to bring the medical kits and supplies. Two business groups had chartered the aircraft. Medical supplies were brought from Guangzhou on March 29 and April 2 as well. --RSS </span></span></span></p>
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			'article_date' => '2020-04-17 09:39:19',
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	(int) 9 => array(
		'Article' => array(
			'id' => '11939',
			'article_category_id' => '1',
			'title' => 'IMF Warns of “Great Recession”',
			'sub_title' => '',
			'summary' => 'April 16: The International Monetary Fund (IMF) has warned of great recession in a century and a dire outlook for the world economy ravaged by coronavirus in its latest report.',
			'content' => '<p><span style="font-size:20px"><span style="font-family:Times"><span style="font-family:Arial">April 16: The International Monetary Fund (IMF) has warned of great recession in a century and a dire outlook for the world economy ravaged by coronavirus in its latest report.</span></span></span></p>

<p><span style="font-size:20px"><span style="font-family:Times"><span style="font-family:Arial">According to Aljazeera, the World Economic Outlook released by the IMF on Tuesday paints a bleak picture of world economy and the manifold financial challenges facing low-income countries.</span></span></span></p>

<p><span style="font-size:20px"><span style="font-family:Cambria"><span style="font-family:Arial">The IMF said that the world economy&rsquo;s contraction and recovery would be worse than anticipated if the coronavirus lingers, Bloomberg reported.</span></span></span></p>

<p><span style="font-size:20px"><span style="font-family:Cambria"><span style="font-family:Arial">&quot;For low-income countries, the challenges of this crisis are manifold,&quot; IMF Chief Economist Geeta Gopinath reportedly said at a video conference briefing where she presented the report. &quot;They have to deal with health crises with health systems that are just not as strong.&quot;</span></span></span></p>

<p><span style="font-size:20px"><span style="font-family:Times"><span style="font-family:Arial">Titled The Great Lockdown, the IMF&#39;s latest report on the global economy described the coronavirus pandemic as a crisis &quot;like no other&quot; and predicted that world economic output will shrink by three percent this year, before experiencing a partial rebound next year.</span></span></span></p>

<p><span style="font-size:20px"><span style="font-family:Times"><span style="font-family:Arial">&quot;It is very likely that this year, the global economy will experience its worst recession since the Great Depression, surpassing that seen during the financial crisis a decade ago,&quot; Aljazeera quoted IMF Chief Economist Gita Gopinath as saying.</span></span></span></p>

<p><span style="font-size:20px"><span style="font-family:Times"><span style="font-family:Arial">IMF warned that there is extreme uncertainty around the global growth forecast. The economic fallout depends on factors that interact in ways that are hard to predict, the report said citing the pathway of the pandemic, the efficacy of containment measures, the intensity of supply chain disruptions, credit market freezes, commodity price impacts and changes in consumer behaviour.</span></span></span></p>

<p><span style="font-size:20px"><span style="font-family:Times"><span style="font-family:Arial">Under the IMF&rsquo;s best-case scenario, the world is likely to lose a cumulative $9 trillion in output over two years - greater than the combined gross domestic product (GDP) of Germany and Japan, said Gopinath.</span></span></span></p>

<p><span style="font-size:20px"><span style="font-family:Times"><span style="font-family:Arial">The IMF&#39;s forecasts assume that outbreaks of the novel coronavirus will peak in most countries during the second quarter and fade in the second half of the year, with business closures and other containment measures gradually unwound.</span></span></span></p>

<p><span style="font-size:20px"><span style="font-family:Times"><span style="font-family:Arial">A longer pandemic that lasts through the third quarter could cause a further three percent contraction in 2020 and a slower recovery in 2021, due to the &quot;scarring&quot; effects of bankruptcies and prolonged unemployment, the report said.</span></span></span></p>

<p><span style="font-size:20px"><span style="font-family:Cambria"><span style="font-family:Arial">Aljazeera further reported citing the IMF that emerging and developing economies face a litany of challenges from the coronavirus pandemic, ranging from underfunded healthcare systems and burdensome debt loads to high rates of unemployment. </span></span></span></p>

<p><span style="font-size:20px"><span style="font-family:Cambria"><span style="font-family:Arial">The report said that developing economies that are highly dependent on tourism will be hit particularly hard, while low-income countries where large portions of the working population depend on daily wages to survive require immediate intervention.</span></span></span></p>

<p><span style="font-size:20px"><span style="font-family:Cambria"><span style="font-family:Arial">&quot;It is important to do whatever it takes and that includes cash transfers, digital payment systems to reach those working for daily wages,&quot; Gopinath stressed.</span></span></span></p>

<p><span style="font-size:20px"><span style="font-family:Cambria"><span style="font-family:Arial">For low-income countries with high levels of debt, Gopinath stressed the importance for creditors to stand up and provide debt relief.</span></span></span></p>

<p><span style="font-size:20px"><span style="font-family:Cambria"><span style="font-family:Arial">&quot;This crisis is a truly exogenous shock,&quot; she said.</span></span></span></p>

<p>&nbsp;</p>
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		'Article' => array(
			'id' => '11940',
			'article_category_id' => '1',
			'title' => 'Government Facing Mounting Challenges for Resource Management ',
			'sub_title' => '',
			'summary' => 'April 16: The government has decided to utilize the funds allocated under various headings to combat the current crisis of coronavirus pandemic. ',
			'content' => '<h1><span style="font-size:20px"><span style="font-family:&quot;Times New Roman&quot;">April 16: The government has decided to utilize the funds allocated under various headings to combat the current crisis of coronavirus pandemic. </span></span></h1>

<h1><span style="font-size:20px"><span style="font-family:&quot;Times New Roman&quot;">The government decided to mobilize internal resources as revenue collection has been shrinking due to the lockdown, which has created mounting challenges for resource management.</span></span></h1>

<h1><span style="font-size:20px"><span style="font-family:&quot;Times New Roman&quot;">In order to prevent the scarcity of resources, the government is preparing to utilize a budget of Rs 16 billion allocated for Nepal Telecom, Rs 3 billion for New Nepal Construction Fund and Disaster Relief Fund respectively.</span></span></h1>

<h1><span style="font-size:20px"><span style="font-family:&quot;Times New Roman&quot;">Deepak Subedi, secretary at the Ministry of Communication and Information Technology informed New Business Age that the Minister for Finance presented a proposal of utilizing various funds to the cabinet meeting on Tuesday. </span></span></h1>

<h1><span style="font-size:20px"><span style="font-family:&quot;Times New Roman&quot;">Minister for Finance Dr Yuba Raj Khatiwada during the cabinet meeting held on Tuesday, made such proposal &nbsp;due to the shrinking revenue collection.&nbsp;&nbsp; &nbsp;&nbsp;&nbsp;</span></span></h1>

<h1><span style="font-size:20px"><span style="font-family:&quot;Times New Roman&quot;">&quot;However, a decision on the proposal has been delayed because the chief secretary is yet to approve it. The media will be informed about the decision by tomorrow (Thursday),&quot; Subedi said.</span></span></h1>

<h1>&nbsp;</h1>

<h1>&nbsp;</h1>

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<h1>&nbsp;</h1>

<h1>&nbsp;</h1>

<h1>&nbsp;</h1>

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<h1>&nbsp;</h1>

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<h1>&nbsp;</h1>

<h1>&nbsp;</h1>

<h1>&nbsp;</h1>

<h1>&nbsp;</h1>
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	(int) 11 => array(
		'Article' => array(
			'id' => '11937',
			'article_category_id' => '1',
			'title' => 'Business Community Discussing Ways to Pay Workers',
			'sub_title' => '',
			'summary' => 'April 16: The business community of Nepal has taken initiative to find ways for addressing the issue of workers’ payment in the context of coronavirus pandemic causing disruption to all economic activities.',
			'content' => '<p><span style="font-size:20px"><span style="font-family:Times"><span style="font-family:&quot;Arial Unicode MS&quot;">April 16: The business community of Nepal has taken initiative to find ways for addressing the issue of workers&rsquo; payment in the context of coronavirus pandemic causing disruption to all economic activities.</span></span></span></p>

<p><span style="font-size:20px"><span style="font-family:Times"><span style="font-family:&quot;Arial Unicode MS&quot;">Participants of a meeting organised by the Employers Council of the Federation of Nepalese Chambers of Commerce and Industry (FNCCI) agreed to decide on the payment of workers within a week and hold discussion in this regard with the government and the respective trade unions. Confederation of Nepalese Industries, Nepal Chamber of Commerce and Hotel Association of Nepal had participated in the meeting held on Tuesday.</span></span></span></p>

<p><span style="font-size:20px"><span style="font-family:Times"><span style="font-family:&quot;Arial Unicode MS&quot;">FNCCI President Bhavani Rana informed about the latest steps taken by the umbrella body to address the problems of paying the workers&rsquo; wages during a video conference organised by the Society of Economic Journalists of Nepal ( SEJON) on Wednesday.</span></span></span></p>

<p><span style="font-size:20px"><span style="font-family:Times"><span style="font-family:&quot;Arial Unicode MS&quot;">According to General Federation of Nepalese Trade Unions (GEFONT), there are altogether 3 to 3.5 million workers in the formal and informal sectors in the country. Hotel Association of Nepal informed that around 1 million people are employed by the hotel industry alone.</span></span></span></p>

<p><span style="font-size:20px"><span style="font-family:Times"><span style="font-family:&quot;Arial Unicode MS&quot;">Operation of most of the industries in the country have come to a standstill due to the fear of coronavirus while the hotel and tourism industries and the aviation sector have been badly affected by the pandemic.</span></span></span></p>

<p><span style="font-size:20px"><span style="font-family:Times"><span style="font-family:&quot;Arial Unicode MS&quot;">This has raised the question of pay-cuts by the employers. The domestic airline companies have already decided to hold the salary of their staffers, instructing some employees to take unpaid leave. Some have decided to pay half the salary during lockdown.</span></span></span></p>

<p><span style="font-size:20px"><span style="font-family:Times"><span style="font-family:&quot;Arial Unicode MS&quot;">The umbrella bodies of the private sector are in talks with the trade unions regarding the salary of the workers.</span></span></span></p>

<p><span style="font-size:20px"><span style="font-family:Times"><span style="font-family:&quot;Arial Unicode MS&quot;">Chairman of GEFONT Binod Shrestha informed New Business Age that they held discussions with the employers&rsquo; umbrella bodies a few days ago regarding payment of the workers. For the time being, both sides have agreed that the salary would be distributed in such a way that both the workers and the employers would not be overburdened by the decision, said Shrestha.</span></span></span></p>

<p><span style="font-size:20px"><span style="font-family:Times"><span style="font-family:&quot;Arial Unicode MS&quot;">During the meeting, some stakeholders reportedly expressed their inability to pay the workers from this month onward.</span></span></span></p>

<p><span style="font-size:20px"><span style="font-family:Times"><span style="font-family:&quot;Arial Unicode MS&quot;">Tuesday&rsquo;s meeting also decided to form a committee comprising of vice presidents of all the three umbrella bodies to prepare a report and present it to the government, informed Chandra Dhakal, vice president of FNCCI.</span></span></span></p>

<p><span style="font-size:20px"><span style="font-family:Times"><span style="font-family:&quot;Arial Unicode MS&quot;">Meanwhile, HAN has clearly stated that the hotel industry alone cannot pay the salaries of the staffers and the government must support them.</span></span></span></p>

<p><span style="font-size:20px"><span style="font-family:Times"><span style="font-family:&quot;Arial Unicode MS&quot;">FNCCI on the other hand has demanded concessional loan for the sectors affected by coronavirus to pay the workers.</span></span></span></p>

<p><span style="font-size:20px"><span style="font-family:Times"><span style="font-family:&quot;Arial Unicode MS&quot;">CNI President Satish Kumar Moore said that although the government has assured the industrial sector of facilitating them to restart their works, the employees are not willing to join work fearing the disease. He said that the government must now collaborate in providing salary to the workers who are willing to join office and not the others.</span></span></span></p>

<p><span style="font-size:20px"><span style="font-family:Times"><span style="font-family:&quot;Arial Unicode MS&quot;">&nbsp;FNCCI President Bhavani Rana said that the private sector is at present concerned about sustaining their business rather than making profit. She said that all the sectors have joined hands to seek support from the government to bring the economy back on track.</span></span></span></p>

<p><span style="font-size:20px"><span style="font-family:Times"><span style="font-family:&quot;Arial Unicode MS&quot;">Stakeholders said that the government should not delay in bringing relief packages. They also opined that &ldquo;all industries should not be kept in the same basket&rdquo;. The government should support the industries and enterprises as per the nature of their business, they said.</span></span></span></p>

<p>&nbsp;</p>
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		'Article' => array(
			'id' => '11936',
			'article_category_id' => '1',
			'title' => 'Prices of Consumable Goods Up due to Rise in Transportation Fare',
			'sub_title' => '',
			'summary' => 'April 16: The prices of daily essentials including rice, edible oil and other food products have increased in the market due to the lockdown.',
			'content' => '<p><span style="font-size:20px"><span style="font-family:Times"><span style="font-family:&quot;Arial Unicode MS&quot;">April 16: The prices of daily essentials including rice, edible oil and other food products have increased in the market due to the lockdown despite government&rsquo;s assurance that it would not let the price increase. The government had claimed that it would ensure smooth supply of daily essentials thereby keeping inflation at the bay. </span></span></span></p>

<p><span style="font-size:20px"><span style="font-family:Times"><span style="font-family:&quot;Arial Unicode MS&quot;">However, the local businessmen have increased the prices of consumable goods citing increase in transportation cost. Businessmen have admitted that they are forced to sell the products at a higher price as they have been bearing transportation cost much more than during normal days.</span></span></span></p>

<p><span style="font-size:20px"><span style="font-family:Times"><span style="font-family:&quot;Arial Unicode MS&quot;">All types of lentil has seen an increase of Rs 20 to Rs 30 per kg since the lockdown was imposed. Likewise, the price of a sack of rice has increased by at least Rs 100 in the recent days, informed Raj Kumar Shrestha, chairman of Retail Market Association. He said that they have been forced to sell sunflower and soybean oil at Rs 20 higher than the normal price.</span></span></span></p>

<p><span style="font-size:20px"><span style="font-family:Times"><span style="font-family:&quot;Arial Unicode MS&quot;">Prices of other consumable items have also been increased in the same ratio, said Shrestha.</span></span></span></p>

<p><span style="font-size:20px"><span style="font-family:Times"><span style="font-family:&quot;Arial Unicode MS&quot;">Devendra Bhakta Shrestha, a food dealer, says that the transportation companies have been charging them additional fare to transport the goods. Therefore, the prices have shot up in the recent days.</span></span></span></p>
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		'Article' => array(
			'id' => '11938',
			'article_category_id' => '1',
			'title' => 'Ghimire Appointed NAC Chair',
			'sub_title' => '',
			'summary' => 'April 16: The government has appointed former secretary Sushil Ghimire as the executive chairman of Nepal Airlines Corporation. ',
			'content' => '<p><img alt="" src="/app/webroot/userfiles/images/nepal.jpg" style="height:356px; width:297px" /></p>

<p><span style="font-size:20px"><span style="font-family:Cambria"><span style="font-family:&quot;Arial Unicode MS&quot;">April 16: The government has appointed former secretary Sushil Ghimire as the executive chairman of Nepal Airlines Corporation (NAC). A meeting of the Council of Ministers on Tuesday took a decision to this effect, the national news agency RSS reported.&nbsp;&nbsp;&nbsp;&nbsp; </span><br />
<span style="font-family:&quot;Arial Unicode MS&quot;">Ghimire is a former secretary at the Ministry of Culture, Tourism and Civil Aviation.&nbsp;&nbsp;&nbsp;&nbsp; </span></span><br />
<span style="font-family:Cambria"><span style="font-family:&quot;Arial Unicode MS&quot;">The post of NAC chairman was lying vacant since the last three months after the resignation of the then chairman Madan Kharel. </span></span></span></p>

<p><span style="font-size:20px"><span style="font-family:Cambria"><span style="font-family:&quot;Arial Unicode MS&quot;">According to RSS, Ghimire was also in the team formed by Tourism Minister Yogesh Bhattarai for the study on management reform at NAC. </span></span></span></p>
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			'id' => '11935',
			'article_category_id' => '1',
			'title' => 'Labour Ministry Asks Finance Ministry to Contribute to SSF on behalf of Workers',
			'sub_title' => '',
			'summary' => 'April 15: The Ministry of Labour, Employment and Social Security has written to the Ministry of Finance to deposit the amounts of 33,000 contributors to the Social Security Fund (SSF) for the month of Chaitra (mid-March to mid-April). ',
			'content' => '<p><span style="font-size:20px"><span style="font-family:Times"><span style="font-family:&quot;Arial Unicode MS&quot;">April 15: The Ministry of Labour, Employment and Social Security has written to the Ministry of Finance to deposit the amounts of 33,000 contributors to the Social Security Fund (SSF) for the month of Chaitra (mid-March to mid-April). </span></span></span></p>

<p><span style="font-size:20px"><span style="font-family:Times"><span style="font-family:&quot;Arial Unicode MS&quot;">According to the labour ministry, it has requested the finance ministry to deposit Rs 880 million on behalf of 33,327 employees working in 861 different private organisations.</span></span></span></p>

<p><span style="font-size:20px"><span style="font-family:Times"><span style="font-family:&quot;Arial Unicode MS&quot;">The Social Security Fund has been collecting 11 percent of monthly salary of the employees in addition to 20 percent amount of their salary deposited by the employers in return for social security during times of crisis and after retirement. The government has made it mandatory for all private organisations to contribute to the fund, which promises pension to the employees and other benefits after retirement.</span></span></span></p>

<p><span style="font-size:20px"><span style="font-family:Times"><span style="font-family:&quot;Arial Unicode MS&quot;">Due to the ongoing crisis caused by the lockdown to contain the spread of the coronavirus, the government had pledged to deposit the amount for the month of Chaitra by itself on behalf of the private sector.</span></span></span></p>

<p><span style="font-size:20px"><span style="font-family:Times"><span style="font-family:&quot;Arial Unicode MS&quot;">The government had made such announcement a few weeks ago while unveiling the relief packages to the sectors affected by the impact of coronavirus, informed Suman Ghimire, joint secretary at the Ministry of Labour, Employment and Social Security.</span></span></span></p>

<p><span style="font-size:20px"><span style="font-family:Times"><span style="font-family:&quot;Arial Unicode MS&quot;">According to Ghimire, the finance ministry will deposit the amount in the SSF as per the recommendation of the labour ministry.</span></span></span></p>

<p>&nbsp;</p>
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