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<span style="">T</span><span style="font-size: 9.5pt;">he private sector has accused Nepal Electricity Authority (NEA) of deceiving electricity producers on the rate of Power Purchase Agreement (PPA). NEA has increased PPA rate by 20 per cent on projects up to 25 megawatts.</span></div>
<div style="margin-bottom: 0.0001pt; text-align: justify; line-height: 11pt; vertical-align: middle;">
<br />
</div>
<div style="margin-bottom: 0.0001pt; text-align: justify; text-indent: 14.15pt; line-height: 11pt; vertical-align: middle;">
<span style="font-size: 9.5pt;">Previously, electricity producers could raise price up to nine times in PPA rate but now they can increase up to only five times. With this, the PPA increase rate said to be 20 per cent will actually be 10 per cent, said Gyanendra Lal Pradhan, a power producer, The government promised to increase PPA by 20 per cent in projects that will be completed within four years but NEA did not follow it.</span></div>
<div style="margin-bottom: 0.0001pt; text-align: justify; text-indent: 14.15pt; line-height: 11pt; vertical-align: middle;">
<br />
</div>
<div style="margin-bottom: 0.0001pt; text-align: justify; text-indent: 14.15pt; line-height: 11pt; vertical-align: middle;">
<span style="font-size: 9.5pt;">The private sector is saying that with the latest increase, internal return rate will be lower than 12 per cent. Power producers are saying that nobody will be interested to borrow from banks at 16 per cent and invest for that rate of return. Independent Power Producers Association-Nepal (IPPAN) says that for 30 years, average PPA rate should be fixed at minimum Rs 6 per unit. </span></div>
<div style="margin-bottom: 0.0001pt; text-align: justify; text-indent: 14.15pt; line-height: 11pt; vertical-align: middle;">
<br />
</div>
<div style="text-align: justify;">
<span style="font-size: 9.5pt; line-height: 115%;">Dr Subarna Das Shrestha President of IPPAN said that due to high interest rate, ongoing projects are also on the verge of being scrapped.<br />
<br />
</span></div>
<div style="text-align: justify;">
<hr />
</div>
<div style="text-indent: 0in; text-align: center;">
<span style="font-size: 24pt; color: rgb(0, 92, 169);">Bhatbhateni Supermarket in Koteshwore</span></div>
<div style="text-indent: 0in; text-align: justify;">
<span style="font-size: 14pt;">B</span>hatbhateni Supermarket and Departmental Store has opened its new outlet at Koteshwor from June 11. During the inauguration, Min Bahadur Gurung, Managing Director of Bhatbhateni, said that the new shopping centre is equipped with customer care desk, elevator and escalator for physically challenged people along with other modern amnesties.</div>
<div style="text-indent: 0in; text-align: justify;">
<br />
</div>
<div style="text-align: justify;">
He said that 200 people are getting employment in the supermarket out of which 90 per cent are women. The five–storey supermarket has been built at an investment of Rs 500 million. Gurung revealed that within this fiscal year, new supermarkets will be established at Jawalakhel and Chuchepati. He said its chain outlet in Pokhara is under construction. He also revealed that supermarkets at Bhatbhateni and Maharajgunj register an annual turnover of Rs 2 billion.<br />
</div>
<div style="text-align: justify;">
<hr />
</div>
<div style="text-indent: 0in; text-align: center;">
<span style="font-size: 22pt; color: rgb(0, 92, 169);">Electricity Development Corp within 15 Days<br />
<br />
</span></div>
<div style="text-indent: 0in; text-align: justify;">
<span style="font-size: 11pt; letter-spacing: -0.25pt;">T</span><span style="letter-spacing: -0.25pt;">he government has announced to set up Electricity Development Corporation within 15 days from June 8. Gokarna Bista, Minister of Energy, said, I will show by establishing the corporation within 15 days. He added, Committee formed for the inception of the corporation is working to complete the task within seven days.</span></div>
<div style="text-indent: 0in; text-align: justify;">
</div>
<div style="text-align: justify;">
<span style="letter-spacing: -0.25pt;">Finance Minister Bharat Mohan Adhikari said that legal consultations are going on for setting up of the corporation. He also revealed that the corporation will not be controlled by the government but will be an independent unit. World Bank, Asian Development Bank, China Exim Bank and other international entities will be invited to invest in the company. Bista said that the seed capital of the corporation will be around Rs 7 to 15 billion. The government had proposed the establishment of Electricity Development Corporation after declaring power emergency in the country some months ago.<br />
<br />
</span></div>
<div style="text-align: justify;">
<hr />
</div>
<div style="text-indent: 0in; text-align: center;">
<span style="font-size: 20px;"><span style="color: rgb(0, 92, 169);"><br />
Siddhartha and NMB to Operate Mutual Fund<br />
<br />
</span></span></div>
<div style="text-indent: 0in; text-align: justify;">
<span style="font-size: 11pt;">S</span>iddhartha Bank Limited has become the first company to file an application to the Securities Board of Nepal to work as a mutual fund. One year after the regulation came into force, first application for licence to run mutual fund has been registered.</div>
<div style="text-indent: 0in; text-align: justify;">
<br />
</div>
<div style="text-align: justify;">
<span style="letter-spacing: -0.25pt;">Siddhartha Bank has begun the process of establishing a mutual fund under the name Siddhartha Mutual Fund. The bank is planning to establish fund under Siddhartha Asset Management, bank's sister organisation, according to Bhola Dhungana, Office Secretary of the bank. The fund will be established with Rs 100 million paid-up capital. The company has said it will begin operation as soon as it gets approval from the SEBON. Similarly, NMB Bank has also registered an application on SEBON to operate its NMB Mutual Fund. NMB has prepared necessary requirements for operating the mutual fund. The fund will be managed and operated by sister organisation of the company, NMB Capital Limited.<br />
<br />
</span></div>
<div style="text-align: justify;">
<hr />
</div>
<div style="text-indent: 0in; text-align: center;">
<span style="font-size: 24pt; color: rgb(0, 92, 169);"><br />
Interbank Lending For Six Months</span></div>
<div style="text-indent: 0in; text-align: justify;">
<span style="font-size: 12pt; letter-spacing: -0.25pt;">B</span><span style="letter-spacing: -0.25pt;">anks and Finance Companies can issue interbank loans for up to six months. Nepal Rastra Bank (NRB) has made a special provision for interbank loans with effect from June 27. Bhaskar Mani Gyawali, Spokesperson of NRB, said, To lower the pressure of liquidity, this special provision is made.<br />
<br />
</span></div>
<div style="text-align: justify;">
Now, commercial banks, development banks and finance companies can issue loans to each other against the acceptable collateral. According to Gyawali, such lending will be for six months on the maximum. </div>
<div style="text-align: justify;">
<br />
</div>
<div style="text-align: justify;">
<hr />
</div>
<div style="text-indent: 0in; text-align: center;">
<span style="font-size: 20pt; color: rgb(0, 92, 169);"><br />
Progress in Amending Securities Transaction Act<br />
<br />
</span></div>
<div style="text-indent: 0in; text-align: justify;">
<span style="font-size: 11pt;">T</span>he Securities Board of Nepal (SEBON) has presented a proposal to the Ministry of Finance (MoF) to amend the Securities Related Act 2007. Paristha Paudyal, Director at at the Board's Regulation Department said, the amendment is to accommodate a provision to authorise the Board to regulate the commodities exchanges as well.</div>
<div style="text-indent: 0in; text-align: justify;">
<br />
</div>
<p style="text-align: justify;">
<span style="font-size: 11pt; line-height: 115%;">In this year's budget, the government had announced to arrange for regulation of the commodities exchanges. Accordingly, a committee was formed with representatives from SEBON, MoF and commodities exchanges. The proposed draft amendment is based on the recommendation of the committee, said Paudyal. Currently, there are five exchange companies in operation while five more are trying to acquire license. </span></p>',
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<span style="">T</span><span style="font-size: 9.5pt;">he private sector has accused Nepal Electricity Authority (NEA) of deceiving electricity producers on the rate of Power Purchase Agreement (PPA). NEA has increased PPA rate by 20 per cent on projects up to 25 megawatts.</span></div>
<div style="margin-bottom: 0.0001pt; text-align: justify; line-height: 11pt; vertical-align: middle;">
<br />
</div>
<div style="margin-bottom: 0.0001pt; text-align: justify; text-indent: 14.15pt; line-height: 11pt; vertical-align: middle;">
<span style="font-size: 9.5pt;">Previously, electricity producers could raise price up to nine times in PPA rate but now they can increase up to only five times. With this, the PPA increase rate said to be 20 per cent will actually be 10 per cent, said Gyanendra Lal Pradhan, a power producer, The government promised to increase PPA by 20 per cent in projects that will be completed within four years but NEA did not follow it.</span></div>
<div style="margin-bottom: 0.0001pt; text-align: justify; text-indent: 14.15pt; line-height: 11pt; vertical-align: middle;">
<br />
</div>
<div style="margin-bottom: 0.0001pt; text-align: justify; text-indent: 14.15pt; line-height: 11pt; vertical-align: middle;">
<span style="font-size: 9.5pt;">The private sector is saying that with the latest increase, internal return rate will be lower than 12 per cent. Power producers are saying that nobody will be interested to borrow from banks at 16 per cent and invest for that rate of return. Independent Power Producers Association-Nepal (IPPAN) says that for 30 years, average PPA rate should be fixed at minimum Rs 6 per unit. </span></div>
<div style="margin-bottom: 0.0001pt; text-align: justify; text-indent: 14.15pt; line-height: 11pt; vertical-align: middle;">
<br />
</div>
<div style="text-align: justify;">
<span style="font-size: 9.5pt; line-height: 115%;">Dr Subarna Das Shrestha President of IPPAN said that due to high interest rate, ongoing projects are also on the verge of being scrapped.<br />
<br />
</span></div>
<div style="text-align: justify;">
<hr />
</div>
<div style="text-indent: 0in; text-align: center;">
<span style="font-size: 24pt; color: rgb(0, 92, 169);">Bhatbhateni Supermarket in Koteshwore</span></div>
<div style="text-indent: 0in; text-align: justify;">
<span style="font-size: 14pt;">B</span>hatbhateni Supermarket and Departmental Store has opened its new outlet at Koteshwor from June 11. During the inauguration, Min Bahadur Gurung, Managing Director of Bhatbhateni, said that the new shopping centre is equipped with customer care desk, elevator and escalator for physically challenged people along with other modern amnesties.</div>
<div style="text-indent: 0in; text-align: justify;">
<br />
</div>
<div style="text-align: justify;">
He said that 200 people are getting employment in the supermarket out of which 90 per cent are women. The five–storey supermarket has been built at an investment of Rs 500 million. Gurung revealed that within this fiscal year, new supermarkets will be established at Jawalakhel and Chuchepati. He said its chain outlet in Pokhara is under construction. He also revealed that supermarkets at Bhatbhateni and Maharajgunj register an annual turnover of Rs 2 billion.<br />
</div>
<div style="text-align: justify;">
<hr />
</div>
<div style="text-indent: 0in; text-align: center;">
<span style="font-size: 22pt; color: rgb(0, 92, 169);">Electricity Development Corp within 15 Days<br />
<br />
</span></div>
<div style="text-indent: 0in; text-align: justify;">
<span style="font-size: 11pt; letter-spacing: -0.25pt;">T</span><span style="letter-spacing: -0.25pt;">he government has announced to set up Electricity Development Corporation within 15 days from June 8. Gokarna Bista, Minister of Energy, said, I will show by establishing the corporation within 15 days. He added, Committee formed for the inception of the corporation is working to complete the task within seven days.</span></div>
<div style="text-indent: 0in; text-align: justify;">
</div>
<div style="text-align: justify;">
<span style="letter-spacing: -0.25pt;">Finance Minister Bharat Mohan Adhikari said that legal consultations are going on for setting up of the corporation. He also revealed that the corporation will not be controlled by the government but will be an independent unit. World Bank, Asian Development Bank, China Exim Bank and other international entities will be invited to invest in the company. Bista said that the seed capital of the corporation will be around Rs 7 to 15 billion. The government had proposed the establishment of Electricity Development Corporation after declaring power emergency in the country some months ago.<br />
<br />
</span></div>
<div style="text-align: justify;">
<hr />
</div>
<div style="text-indent: 0in; text-align: center;">
<span style="font-size: 20px;"><span style="color: rgb(0, 92, 169);"><br />
Siddhartha and NMB to Operate Mutual Fund<br />
<br />
</span></span></div>
<div style="text-indent: 0in; text-align: justify;">
<span style="font-size: 11pt;">S</span>iddhartha Bank Limited has become the first company to file an application to the Securities Board of Nepal to work as a mutual fund. One year after the regulation came into force, first application for licence to run mutual fund has been registered.</div>
<div style="text-indent: 0in; text-align: justify;">
<br />
</div>
<div style="text-align: justify;">
<span style="letter-spacing: -0.25pt;">Siddhartha Bank has begun the process of establishing a mutual fund under the name Siddhartha Mutual Fund. The bank is planning to establish fund under Siddhartha Asset Management, bank's sister organisation, according to Bhola Dhungana, Office Secretary of the bank. The fund will be established with Rs 100 million paid-up capital. The company has said it will begin operation as soon as it gets approval from the SEBON. Similarly, NMB Bank has also registered an application on SEBON to operate its NMB Mutual Fund. NMB has prepared necessary requirements for operating the mutual fund. The fund will be managed and operated by sister organisation of the company, NMB Capital Limited.<br />
<br />
</span></div>
<div style="text-align: justify;">
<hr />
</div>
<div style="text-indent: 0in; text-align: center;">
<span style="font-size: 24pt; color: rgb(0, 92, 169);"><br />
Interbank Lending For Six Months</span></div>
<div style="text-indent: 0in; text-align: justify;">
<span style="font-size: 12pt; letter-spacing: -0.25pt;">B</span><span style="letter-spacing: -0.25pt;">anks and Finance Companies can issue interbank loans for up to six months. Nepal Rastra Bank (NRB) has made a special provision for interbank loans with effect from June 27. Bhaskar Mani Gyawali, Spokesperson of NRB, said, To lower the pressure of liquidity, this special provision is made.<br />
<br />
</span></div>
<div style="text-align: justify;">
Now, commercial banks, development banks and finance companies can issue loans to each other against the acceptable collateral. According to Gyawali, such lending will be for six months on the maximum. </div>
<div style="text-align: justify;">
<br />
</div>
<div style="text-align: justify;">
<hr />
</div>
<div style="text-indent: 0in; text-align: center;">
<span style="font-size: 20pt; color: rgb(0, 92, 169);"><br />
Progress in Amending Securities Transaction Act<br />
<br />
</span></div>
<div style="text-indent: 0in; text-align: justify;">
<span style="font-size: 11pt;">T</span>he Securities Board of Nepal (SEBON) has presented a proposal to the Ministry of Finance (MoF) to amend the Securities Related Act 2007. Paristha Paudyal, Director at at the Board's Regulation Department said, the amendment is to accommodate a provision to authorise the Board to regulate the commodities exchanges as well.</div>
<div style="text-indent: 0in; text-align: justify;">
<br />
</div>
<p style="text-align: justify;">
<span style="font-size: 11pt; line-height: 115%;">In this year's budget, the government had announced to arrange for regulation of the commodities exchanges. Accordingly, a committee was formed with representatives from SEBON, MoF and commodities exchanges. The proposed draft amendment is based on the recommendation of the committee, said Paudyal. Currently, there are five exchange companies in operation while five more are trying to acquire license. </span></p>',
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<span style="">T</span><span style="font-size: 9.5pt;">he private sector has accused Nepal Electricity Authority (NEA) of deceiving electricity producers on the rate of Power Purchase Agreement (PPA). NEA has increased PPA rate by 20 per cent on projects up to 25 megawatts.</span></div>
<div style="margin-bottom: 0.0001pt; text-align: justify; line-height: 11pt; vertical-align: middle;">
<br />
</div>
<div style="margin-bottom: 0.0001pt; text-align: justify; text-indent: 14.15pt; line-height: 11pt; vertical-align: middle;">
<span style="font-size: 9.5pt;">Previously, electricity producers could raise price up to nine times in PPA rate but now they can increase up to only five times. With this, the PPA increase rate said to be 20 per cent will actually be 10 per cent, said Gyanendra Lal Pradhan, a power producer, The government promised to increase PPA by 20 per cent in projects that will be completed within four years but NEA did not follow it.</span></div>
<div style="margin-bottom: 0.0001pt; text-align: justify; text-indent: 14.15pt; line-height: 11pt; vertical-align: middle;">
<br />
</div>
<div style="margin-bottom: 0.0001pt; text-align: justify; text-indent: 14.15pt; line-height: 11pt; vertical-align: middle;">
<span style="font-size: 9.5pt;">The private sector is saying that with the latest increase, internal return rate will be lower than 12 per cent. Power producers are saying that nobody will be interested to borrow from banks at 16 per cent and invest for that rate of return. Independent Power Producers Association-Nepal (IPPAN) says that for 30 years, average PPA rate should be fixed at minimum Rs 6 per unit. </span></div>
<div style="margin-bottom: 0.0001pt; text-align: justify; text-indent: 14.15pt; line-height: 11pt; vertical-align: middle;">
<br />
</div>
<div style="text-align: justify;">
<span style="font-size: 9.5pt; line-height: 115%;">Dr Subarna Das Shrestha President of IPPAN said that due to high interest rate, ongoing projects are also on the verge of being scrapped.<br />
<br />
</span></div>
<div style="text-align: justify;">
<hr />
</div>
<div style="text-indent: 0in; text-align: center;">
<span style="font-size: 24pt; color: rgb(0, 92, 169);">Bhatbhateni Supermarket in Koteshwore</span></div>
<div style="text-indent: 0in; text-align: justify;">
<span style="font-size: 14pt;">B</span>hatbhateni Supermarket and Departmental Store has opened its new outlet at Koteshwor from June 11. During the inauguration, Min Bahadur Gurung, Managing Director of Bhatbhateni, said that the new shopping centre is equipped with customer care desk, elevator and escalator for physically challenged people along with other modern amnesties.</div>
<div style="text-indent: 0in; text-align: justify;">
<br />
</div>
<div style="text-align: justify;">
He said that 200 people are getting employment in the supermarket out of which 90 per cent are women. The five–storey supermarket has been built at an investment of Rs 500 million. Gurung revealed that within this fiscal year, new supermarkets will be established at Jawalakhel and Chuchepati. He said its chain outlet in Pokhara is under construction. He also revealed that supermarkets at Bhatbhateni and Maharajgunj register an annual turnover of Rs 2 billion.<br />
</div>
<div style="text-align: justify;">
<hr />
</div>
<div style="text-indent: 0in; text-align: center;">
<span style="font-size: 22pt; color: rgb(0, 92, 169);">Electricity Development Corp within 15 Days<br />
<br />
</span></div>
<div style="text-indent: 0in; text-align: justify;">
<span style="font-size: 11pt; letter-spacing: -0.25pt;">T</span><span style="letter-spacing: -0.25pt;">he government has announced to set up Electricity Development Corporation within 15 days from June 8. Gokarna Bista, Minister of Energy, said, I will show by establishing the corporation within 15 days. He added, Committee formed for the inception of the corporation is working to complete the task within seven days.</span></div>
<div style="text-indent: 0in; text-align: justify;">
</div>
<div style="text-align: justify;">
<span style="letter-spacing: -0.25pt;">Finance Minister Bharat Mohan Adhikari said that legal consultations are going on for setting up of the corporation. He also revealed that the corporation will not be controlled by the government but will be an independent unit. World Bank, Asian Development Bank, China Exim Bank and other international entities will be invited to invest in the company. Bista said that the seed capital of the corporation will be around Rs 7 to 15 billion. The government had proposed the establishment of Electricity Development Corporation after declaring power emergency in the country some months ago.<br />
<br />
</span></div>
<div style="text-align: justify;">
<hr />
</div>
<div style="text-indent: 0in; text-align: center;">
<span style="font-size: 20px;"><span style="color: rgb(0, 92, 169);"><br />
Siddhartha and NMB to Operate Mutual Fund<br />
<br />
</span></span></div>
<div style="text-indent: 0in; text-align: justify;">
<span style="font-size: 11pt;">S</span>iddhartha Bank Limited has become the first company to file an application to the Securities Board of Nepal to work as a mutual fund. One year after the regulation came into force, first application for licence to run mutual fund has been registered.</div>
<div style="text-indent: 0in; text-align: justify;">
<br />
</div>
<div style="text-align: justify;">
<span style="letter-spacing: -0.25pt;">Siddhartha Bank has begun the process of establishing a mutual fund under the name Siddhartha Mutual Fund. The bank is planning to establish fund under Siddhartha Asset Management, bank's sister organisation, according to Bhola Dhungana, Office Secretary of the bank. The fund will be established with Rs 100 million paid-up capital. The company has said it will begin operation as soon as it gets approval from the SEBON. Similarly, NMB Bank has also registered an application on SEBON to operate its NMB Mutual Fund. NMB has prepared necessary requirements for operating the mutual fund. The fund will be managed and operated by sister organisation of the company, NMB Capital Limited.<br />
<br />
</span></div>
<div style="text-align: justify;">
<hr />
</div>
<div style="text-indent: 0in; text-align: center;">
<span style="font-size: 24pt; color: rgb(0, 92, 169);"><br />
Interbank Lending For Six Months</span></div>
<div style="text-indent: 0in; text-align: justify;">
<span style="font-size: 12pt; letter-spacing: -0.25pt;">B</span><span style="letter-spacing: -0.25pt;">anks and Finance Companies can issue interbank loans for up to six months. Nepal Rastra Bank (NRB) has made a special provision for interbank loans with effect from June 27. Bhaskar Mani Gyawali, Spokesperson of NRB, said, To lower the pressure of liquidity, this special provision is made.<br />
<br />
</span></div>
<div style="text-align: justify;">
Now, commercial banks, development banks and finance companies can issue loans to each other against the acceptable collateral. According to Gyawali, such lending will be for six months on the maximum. </div>
<div style="text-align: justify;">
<br />
</div>
<div style="text-align: justify;">
<hr />
</div>
<div style="text-indent: 0in; text-align: center;">
<span style="font-size: 20pt; color: rgb(0, 92, 169);"><br />
Progress in Amending Securities Transaction Act<br />
<br />
</span></div>
<div style="text-indent: 0in; text-align: justify;">
<span style="font-size: 11pt;">T</span>he Securities Board of Nepal (SEBON) has presented a proposal to the Ministry of Finance (MoF) to amend the Securities Related Act 2007. Paristha Paudyal, Director at at the Board's Regulation Department said, the amendment is to accommodate a provision to authorise the Board to regulate the commodities exchanges as well.</div>
<div style="text-indent: 0in; text-align: justify;">
<br />
</div>
<p style="text-align: justify;">
<span style="font-size: 11pt; line-height: 115%;">In this year's budget, the government had announced to arrange for regulation of the commodities exchanges. Accordingly, a committee was formed with representatives from SEBON, MoF and commodities exchanges. The proposed draft amendment is based on the recommendation of the committee, said Paudyal. Currently, there are five exchange companies in operation while five more are trying to acquire license. </span></p>',
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<span style="">T</span><span style="font-size: 9.5pt;">he private sector has accused Nepal Electricity Authority (NEA) of deceiving electricity producers on the rate of Power Purchase Agreement (PPA). NEA has increased PPA rate by 20 per cent on projects up to 25 megawatts.</span></div>
<div style="margin-bottom: 0.0001pt; text-align: justify; line-height: 11pt; vertical-align: middle;">
<br />
</div>
<div style="margin-bottom: 0.0001pt; text-align: justify; text-indent: 14.15pt; line-height: 11pt; vertical-align: middle;">
<span style="font-size: 9.5pt;">Previously, electricity producers could raise price up to nine times in PPA rate but now they can increase up to only five times. With this, the PPA increase rate said to be 20 per cent will actually be 10 per cent, said Gyanendra Lal Pradhan, a power producer, The government promised to increase PPA by 20 per cent in projects that will be completed within four years but NEA did not follow it.</span></div>
<div style="margin-bottom: 0.0001pt; text-align: justify; text-indent: 14.15pt; line-height: 11pt; vertical-align: middle;">
<br />
</div>
<div style="margin-bottom: 0.0001pt; text-align: justify; text-indent: 14.15pt; line-height: 11pt; vertical-align: middle;">
<span style="font-size: 9.5pt;">The private sector is saying that with the latest increase, internal return rate will be lower than 12 per cent. Power producers are saying that nobody will be interested to borrow from banks at 16 per cent and invest for that rate of return. Independent Power Producers Association-Nepal (IPPAN) says that for 30 years, average PPA rate should be fixed at minimum Rs 6 per unit. </span></div>
<div style="margin-bottom: 0.0001pt; text-align: justify; text-indent: 14.15pt; line-height: 11pt; vertical-align: middle;">
<br />
</div>
<div style="text-align: justify;">
<span style="font-size: 9.5pt; line-height: 115%;">Dr Subarna Das Shrestha President of IPPAN said that due to high interest rate, ongoing projects are also on the verge of being scrapped.<br />
<br />
</span></div>
<div style="text-align: justify;">
<hr />
</div>
<div style="text-indent: 0in; text-align: center;">
<span style="font-size: 24pt; color: rgb(0, 92, 169);">Bhatbhateni Supermarket in Koteshwore</span></div>
<div style="text-indent: 0in; text-align: justify;">
<span style="font-size: 14pt;">B</span>hatbhateni Supermarket and Departmental Store has opened its new outlet at Koteshwor from June 11. During the inauguration, Min Bahadur Gurung, Managing Director of Bhatbhateni, said that the new shopping centre is equipped with customer care desk, elevator and escalator for physically challenged people along with other modern amnesties.</div>
<div style="text-indent: 0in; text-align: justify;">
<br />
</div>
<div style="text-align: justify;">
He said that 200 people are getting employment in the supermarket out of which 90 per cent are women. The five–storey supermarket has been built at an investment of Rs 500 million. Gurung revealed that within this fiscal year, new supermarkets will be established at Jawalakhel and Chuchepati. He said its chain outlet in Pokhara is under construction. He also revealed that supermarkets at Bhatbhateni and Maharajgunj register an annual turnover of Rs 2 billion.<br />
</div>
<div style="text-align: justify;">
<hr />
</div>
<div style="text-indent: 0in; text-align: center;">
<span style="font-size: 22pt; color: rgb(0, 92, 169);">Electricity Development Corp within 15 Days<br />
<br />
</span></div>
<div style="text-indent: 0in; text-align: justify;">
<span style="font-size: 11pt; letter-spacing: -0.25pt;">T</span><span style="letter-spacing: -0.25pt;">he government has announced to set up Electricity Development Corporation within 15 days from June 8. Gokarna Bista, Minister of Energy, said, I will show by establishing the corporation within 15 days. He added, Committee formed for the inception of the corporation is working to complete the task within seven days.</span></div>
<div style="text-indent: 0in; text-align: justify;">
</div>
<div style="text-align: justify;">
<span style="letter-spacing: -0.25pt;">Finance Minister Bharat Mohan Adhikari said that legal consultations are going on for setting up of the corporation. He also revealed that the corporation will not be controlled by the government but will be an independent unit. World Bank, Asian Development Bank, China Exim Bank and other international entities will be invited to invest in the company. Bista said that the seed capital of the corporation will be around Rs 7 to 15 billion. The government had proposed the establishment of Electricity Development Corporation after declaring power emergency in the country some months ago.<br />
<br />
</span></div>
<div style="text-align: justify;">
<hr />
</div>
<div style="text-indent: 0in; text-align: center;">
<span style="font-size: 20px;"><span style="color: rgb(0, 92, 169);"><br />
Siddhartha and NMB to Operate Mutual Fund<br />
<br />
</span></span></div>
<div style="text-indent: 0in; text-align: justify;">
<span style="font-size: 11pt;">S</span>iddhartha Bank Limited has become the first company to file an application to the Securities Board of Nepal to work as a mutual fund. One year after the regulation came into force, first application for licence to run mutual fund has been registered.</div>
<div style="text-indent: 0in; text-align: justify;">
<br />
</div>
<div style="text-align: justify;">
<span style="letter-spacing: -0.25pt;">Siddhartha Bank has begun the process of establishing a mutual fund under the name Siddhartha Mutual Fund. The bank is planning to establish fund under Siddhartha Asset Management, bank's sister organisation, according to Bhola Dhungana, Office Secretary of the bank. The fund will be established with Rs 100 million paid-up capital. The company has said it will begin operation as soon as it gets approval from the SEBON. Similarly, NMB Bank has also registered an application on SEBON to operate its NMB Mutual Fund. NMB has prepared necessary requirements for operating the mutual fund. The fund will be managed and operated by sister organisation of the company, NMB Capital Limited.<br />
<br />
</span></div>
<div style="text-align: justify;">
<hr />
</div>
<div style="text-indent: 0in; text-align: center;">
<span style="font-size: 24pt; color: rgb(0, 92, 169);"><br />
Interbank Lending For Six Months</span></div>
<div style="text-indent: 0in; text-align: justify;">
<span style="font-size: 12pt; letter-spacing: -0.25pt;">B</span><span style="letter-spacing: -0.25pt;">anks and Finance Companies can issue interbank loans for up to six months. Nepal Rastra Bank (NRB) has made a special provision for interbank loans with effect from June 27. Bhaskar Mani Gyawali, Spokesperson of NRB, said, To lower the pressure of liquidity, this special provision is made.<br />
<br />
</span></div>
<div style="text-align: justify;">
Now, commercial banks, development banks and finance companies can issue loans to each other against the acceptable collateral. According to Gyawali, such lending will be for six months on the maximum. </div>
<div style="text-align: justify;">
<br />
</div>
<div style="text-align: justify;">
<hr />
</div>
<div style="text-indent: 0in; text-align: center;">
<span style="font-size: 20pt; color: rgb(0, 92, 169);"><br />
Progress in Amending Securities Transaction Act<br />
<br />
</span></div>
<div style="text-indent: 0in; text-align: justify;">
<span style="font-size: 11pt;">T</span>he Securities Board of Nepal (SEBON) has presented a proposal to the Ministry of Finance (MoF) to amend the Securities Related Act 2007. Paristha Paudyal, Director at at the Board's Regulation Department said, the amendment is to accommodate a provision to authorise the Board to regulate the commodities exchanges as well.</div>
<div style="text-indent: 0in; text-align: justify;">
<br />
</div>
<p style="text-align: justify;">
<span style="font-size: 11pt; line-height: 115%;">In this year's budget, the government had announced to arrange for regulation of the commodities exchanges. Accordingly, a committee was formed with representatives from SEBON, MoF and commodities exchanges. The proposed draft amendment is based on the recommendation of the committee, said Paudyal. Currently, there are five exchange companies in operation while five more are trying to acquire license. </span></p>',
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<span style="">T</span><span style="font-size: 9.5pt;">he private sector has accused Nepal Electricity Authority (NEA) of deceiving electricity producers on the rate of Power Purchase Agreement (PPA). NEA has increased PPA rate by 20 per cent on projects up to 25 megawatts.</span></div>
<div style="margin-bottom: 0.0001pt; text-align: justify; line-height: 11pt; vertical-align: middle;">
<br />
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<div style="margin-bottom: 0.0001pt; text-align: justify; text-indent: 14.15pt; line-height: 11pt; vertical-align: middle;">
<span style="font-size: 9.5pt;">Previously, electricity producers could raise price up to nine times in PPA rate but now they can increase up to only five times. With this, the PPA increase rate said to be 20 per cent will actually be 10 per cent, said Gyanendra Lal Pradhan, a power producer, The government promised to increase PPA by 20 per cent in projects that will be completed within four years but NEA did not follow it.</span></div>
<div style="margin-bottom: 0.0001pt; text-align: justify; text-indent: 14.15pt; line-height: 11pt; vertical-align: middle;">
<br />
</div>
<div style="margin-bottom: 0.0001pt; text-align: justify; text-indent: 14.15pt; line-height: 11pt; vertical-align: middle;">
<span style="font-size: 9.5pt;">The private sector is saying that with the latest increase, internal return rate will be lower than 12 per cent. Power producers are saying that nobody will be interested to borrow from banks at 16 per cent and invest for that rate of return. Independent Power Producers Association-Nepal (IPPAN) says that for 30 years, average PPA rate should be fixed at minimum Rs 6 per unit. </span></div>
<div style="margin-bottom: 0.0001pt; text-align: justify; text-indent: 14.15pt; line-height: 11pt; vertical-align: middle;">
<br />
</div>
<div style="text-align: justify;">
<span style="font-size: 9.5pt; line-height: 115%;">Dr Subarna Das Shrestha President of IPPAN said that due to high interest rate, ongoing projects are also on the verge of being scrapped.<br />
<br />
</span></div>
<div style="text-align: justify;">
<hr />
</div>
<div style="text-indent: 0in; text-align: center;">
<span style="font-size: 24pt; color: rgb(0, 92, 169);">Bhatbhateni Supermarket in Koteshwore</span></div>
<div style="text-indent: 0in; text-align: justify;">
<span style="font-size: 14pt;">B</span>hatbhateni Supermarket and Departmental Store has opened its new outlet at Koteshwor from June 11. During the inauguration, Min Bahadur Gurung, Managing Director of Bhatbhateni, said that the new shopping centre is equipped with customer care desk, elevator and escalator for physically challenged people along with other modern amnesties.</div>
<div style="text-indent: 0in; text-align: justify;">
<br />
</div>
<div style="text-align: justify;">
He said that 200 people are getting employment in the supermarket out of which 90 per cent are women. The five–storey supermarket has been built at an investment of Rs 500 million. Gurung revealed that within this fiscal year, new supermarkets will be established at Jawalakhel and Chuchepati. He said its chain outlet in Pokhara is under construction. He also revealed that supermarkets at Bhatbhateni and Maharajgunj register an annual turnover of Rs 2 billion.<br />
</div>
<div style="text-align: justify;">
<hr />
</div>
<div style="text-indent: 0in; text-align: center;">
<span style="font-size: 22pt; color: rgb(0, 92, 169);">Electricity Development Corp within 15 Days<br />
<br />
</span></div>
<div style="text-indent: 0in; text-align: justify;">
<span style="font-size: 11pt; letter-spacing: -0.25pt;">T</span><span style="letter-spacing: -0.25pt;">he government has announced to set up Electricity Development Corporation within 15 days from June 8. Gokarna Bista, Minister of Energy, said, I will show by establishing the corporation within 15 days. He added, Committee formed for the inception of the corporation is working to complete the task within seven days.</span></div>
<div style="text-indent: 0in; text-align: justify;">
</div>
<div style="text-align: justify;">
<span style="letter-spacing: -0.25pt;">Finance Minister Bharat Mohan Adhikari said that legal consultations are going on for setting up of the corporation. He also revealed that the corporation will not be controlled by the government but will be an independent unit. World Bank, Asian Development Bank, China Exim Bank and other international entities will be invited to invest in the company. Bista said that the seed capital of the corporation will be around Rs 7 to 15 billion. The government had proposed the establishment of Electricity Development Corporation after declaring power emergency in the country some months ago.<br />
<br />
</span></div>
<div style="text-align: justify;">
<hr />
</div>
<div style="text-indent: 0in; text-align: center;">
<span style="font-size: 20px;"><span style="color: rgb(0, 92, 169);"><br />
Siddhartha and NMB to Operate Mutual Fund<br />
<br />
</span></span></div>
<div style="text-indent: 0in; text-align: justify;">
<span style="font-size: 11pt;">S</span>iddhartha Bank Limited has become the first company to file an application to the Securities Board of Nepal to work as a mutual fund. One year after the regulation came into force, first application for licence to run mutual fund has been registered.</div>
<div style="text-indent: 0in; text-align: justify;">
<br />
</div>
<div style="text-align: justify;">
<span style="letter-spacing: -0.25pt;">Siddhartha Bank has begun the process of establishing a mutual fund under the name Siddhartha Mutual Fund. The bank is planning to establish fund under Siddhartha Asset Management, bank's sister organisation, according to Bhola Dhungana, Office Secretary of the bank. The fund will be established with Rs 100 million paid-up capital. The company has said it will begin operation as soon as it gets approval from the SEBON. Similarly, NMB Bank has also registered an application on SEBON to operate its NMB Mutual Fund. NMB has prepared necessary requirements for operating the mutual fund. The fund will be managed and operated by sister organisation of the company, NMB Capital Limited.<br />
<br />
</span></div>
<div style="text-align: justify;">
<hr />
</div>
<div style="text-indent: 0in; text-align: center;">
<span style="font-size: 24pt; color: rgb(0, 92, 169);"><br />
Interbank Lending For Six Months</span></div>
<div style="text-indent: 0in; text-align: justify;">
<span style="font-size: 12pt; letter-spacing: -0.25pt;">B</span><span style="letter-spacing: -0.25pt;">anks and Finance Companies can issue interbank loans for up to six months. Nepal Rastra Bank (NRB) has made a special provision for interbank loans with effect from June 27. Bhaskar Mani Gyawali, Spokesperson of NRB, said, To lower the pressure of liquidity, this special provision is made.<br />
<br />
</span></div>
<div style="text-align: justify;">
Now, commercial banks, development banks and finance companies can issue loans to each other against the acceptable collateral. According to Gyawali, such lending will be for six months on the maximum. </div>
<div style="text-align: justify;">
<br />
</div>
<div style="text-align: justify;">
<hr />
</div>
<div style="text-indent: 0in; text-align: center;">
<span style="font-size: 20pt; color: rgb(0, 92, 169);"><br />
Progress in Amending Securities Transaction Act<br />
<br />
</span></div>
<div style="text-indent: 0in; text-align: justify;">
<span style="font-size: 11pt;">T</span>he Securities Board of Nepal (SEBON) has presented a proposal to the Ministry of Finance (MoF) to amend the Securities Related Act 2007. Paristha Paudyal, Director at at the Board's Regulation Department said, the amendment is to accommodate a provision to authorise the Board to regulate the commodities exchanges as well.</div>
<div style="text-indent: 0in; text-align: justify;">
<br />
</div>
<p style="text-align: justify;">
<span style="font-size: 11pt; line-height: 115%;">In this year's budget, the government had announced to arrange for regulation of the commodities exchanges. Accordingly, a committee was formed with representatives from SEBON, MoF and commodities exchanges. The proposed draft amendment is based on the recommendation of the committee, said Paudyal. Currently, there are five exchange companies in operation while five more are trying to acquire license. </span></p>',
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<span style="">T</span><span style="font-size: 9.5pt;">he private sector has accused Nepal Electricity Authority (NEA) of deceiving electricity producers on the rate of Power Purchase Agreement (PPA). NEA has increased PPA rate by 20 per cent on projects up to 25 megawatts.</span></div>
<div style="margin-bottom: 0.0001pt; text-align: justify; line-height: 11pt; vertical-align: middle;">
<br />
</div>
<div style="margin-bottom: 0.0001pt; text-align: justify; text-indent: 14.15pt; line-height: 11pt; vertical-align: middle;">
<span style="font-size: 9.5pt;">Previously, electricity producers could raise price up to nine times in PPA rate but now they can increase up to only five times. With this, the PPA increase rate said to be 20 per cent will actually be 10 per cent, said Gyanendra Lal Pradhan, a power producer, The government promised to increase PPA by 20 per cent in projects that will be completed within four years but NEA did not follow it.</span></div>
<div style="margin-bottom: 0.0001pt; text-align: justify; text-indent: 14.15pt; line-height: 11pt; vertical-align: middle;">
<br />
</div>
<div style="margin-bottom: 0.0001pt; text-align: justify; text-indent: 14.15pt; line-height: 11pt; vertical-align: middle;">
<span style="font-size: 9.5pt;">The private sector is saying that with the latest increase, internal return rate will be lower than 12 per cent. Power producers are saying that nobody will be interested to borrow from banks at 16 per cent and invest for that rate of return. Independent Power Producers Association-Nepal (IPPAN) says that for 30 years, average PPA rate should be fixed at minimum Rs 6 per unit. </span></div>
<div style="margin-bottom: 0.0001pt; text-align: justify; text-indent: 14.15pt; line-height: 11pt; vertical-align: middle;">
<br />
</div>
<div style="text-align: justify;">
<span style="font-size: 9.5pt; line-height: 115%;">Dr Subarna Das Shrestha President of IPPAN said that due to high interest rate, ongoing projects are also on the verge of being scrapped.<br />
<br />
</span></div>
<div style="text-align: justify;">
<hr />
</div>
<div style="text-indent: 0in; text-align: center;">
<span style="font-size: 24pt; color: rgb(0, 92, 169);">Bhatbhateni Supermarket in Koteshwore</span></div>
<div style="text-indent: 0in; text-align: justify;">
<span style="font-size: 14pt;">B</span>hatbhateni Supermarket and Departmental Store has opened its new outlet at Koteshwor from June 11. During the inauguration, Min Bahadur Gurung, Managing Director of Bhatbhateni, said that the new shopping centre is equipped with customer care desk, elevator and escalator for physically challenged people along with other modern amnesties.</div>
<div style="text-indent: 0in; text-align: justify;">
<br />
</div>
<div style="text-align: justify;">
He said that 200 people are getting employment in the supermarket out of which 90 per cent are women. The five–storey supermarket has been built at an investment of Rs 500 million. Gurung revealed that within this fiscal year, new supermarkets will be established at Jawalakhel and Chuchepati. He said its chain outlet in Pokhara is under construction. He also revealed that supermarkets at Bhatbhateni and Maharajgunj register an annual turnover of Rs 2 billion.<br />
</div>
<div style="text-align: justify;">
<hr />
</div>
<div style="text-indent: 0in; text-align: center;">
<span style="font-size: 22pt; color: rgb(0, 92, 169);">Electricity Development Corp within 15 Days<br />
<br />
</span></div>
<div style="text-indent: 0in; text-align: justify;">
<span style="font-size: 11pt; letter-spacing: -0.25pt;">T</span><span style="letter-spacing: -0.25pt;">he government has announced to set up Electricity Development Corporation within 15 days from June 8. Gokarna Bista, Minister of Energy, said, I will show by establishing the corporation within 15 days. He added, Committee formed for the inception of the corporation is working to complete the task within seven days.</span></div>
<div style="text-indent: 0in; text-align: justify;">
</div>
<div style="text-align: justify;">
<span style="letter-spacing: -0.25pt;">Finance Minister Bharat Mohan Adhikari said that legal consultations are going on for setting up of the corporation. He also revealed that the corporation will not be controlled by the government but will be an independent unit. World Bank, Asian Development Bank, China Exim Bank and other international entities will be invited to invest in the company. Bista said that the seed capital of the corporation will be around Rs 7 to 15 billion. The government had proposed the establishment of Electricity Development Corporation after declaring power emergency in the country some months ago.<br />
<br />
</span></div>
<div style="text-align: justify;">
<hr />
</div>
<div style="text-indent: 0in; text-align: center;">
<span style="font-size: 20px;"><span style="color: rgb(0, 92, 169);"><br />
Siddhartha and NMB to Operate Mutual Fund<br />
<br />
</span></span></div>
<div style="text-indent: 0in; text-align: justify;">
<span style="font-size: 11pt;">S</span>iddhartha Bank Limited has become the first company to file an application to the Securities Board of Nepal to work as a mutual fund. One year after the regulation came into force, first application for licence to run mutual fund has been registered.</div>
<div style="text-indent: 0in; text-align: justify;">
<br />
</div>
<div style="text-align: justify;">
<span style="letter-spacing: -0.25pt;">Siddhartha Bank has begun the process of establishing a mutual fund under the name Siddhartha Mutual Fund. The bank is planning to establish fund under Siddhartha Asset Management, bank's sister organisation, according to Bhola Dhungana, Office Secretary of the bank. The fund will be established with Rs 100 million paid-up capital. The company has said it will begin operation as soon as it gets approval from the SEBON. Similarly, NMB Bank has also registered an application on SEBON to operate its NMB Mutual Fund. NMB has prepared necessary requirements for operating the mutual fund. The fund will be managed and operated by sister organisation of the company, NMB Capital Limited.<br />
<br />
</span></div>
<div style="text-align: justify;">
<hr />
</div>
<div style="text-indent: 0in; text-align: center;">
<span style="font-size: 24pt; color: rgb(0, 92, 169);"><br />
Interbank Lending For Six Months</span></div>
<div style="text-indent: 0in; text-align: justify;">
<span style="font-size: 12pt; letter-spacing: -0.25pt;">B</span><span style="letter-spacing: -0.25pt;">anks and Finance Companies can issue interbank loans for up to six months. Nepal Rastra Bank (NRB) has made a special provision for interbank loans with effect from June 27. Bhaskar Mani Gyawali, Spokesperson of NRB, said, To lower the pressure of liquidity, this special provision is made.<br />
<br />
</span></div>
<div style="text-align: justify;">
Now, commercial banks, development banks and finance companies can issue loans to each other against the acceptable collateral. According to Gyawali, such lending will be for six months on the maximum. </div>
<div style="text-align: justify;">
<br />
</div>
<div style="text-align: justify;">
<hr />
</div>
<div style="text-indent: 0in; text-align: center;">
<span style="font-size: 20pt; color: rgb(0, 92, 169);"><br />
Progress in Amending Securities Transaction Act<br />
<br />
</span></div>
<div style="text-indent: 0in; text-align: justify;">
<span style="font-size: 11pt;">T</span>he Securities Board of Nepal (SEBON) has presented a proposal to the Ministry of Finance (MoF) to amend the Securities Related Act 2007. Paristha Paudyal, Director at at the Board's Regulation Department said, the amendment is to accommodate a provision to authorise the Board to regulate the commodities exchanges as well.</div>
<div style="text-indent: 0in; text-align: justify;">
<br />
</div>
<p style="text-align: justify;">
<span style="font-size: 11pt; line-height: 115%;">In this year's budget, the government had announced to arrange for regulation of the commodities exchanges. Accordingly, a committee was formed with representatives from SEBON, MoF and commodities exchanges. The proposed draft amendment is based on the recommendation of the committee, said Paudyal. Currently, there are five exchange companies in operation while five more are trying to acquire license. </span></p>',
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The private sector has accused Nepal Electricity Authority (NEA) of deceiving electricity producers on the rate of Power Purchase Agreement (PPA). NEA has increased PPA rate by 20 per cent on projects up to 25 megawatts.
Previously, electricity producers could raise price up to nine times in PPA rate but now they can increase up to only five times. With this, the PPA increase rate said to be 20 per cent will actually be 10 per cent, said Gyanendra Lal Pradhan, a power producer, The government promised to increase PPA by 20 per cent in projects that will be completed within four years but NEA did not follow it.
The private sector is saying that with the latest increase, internal return rate will be lower than 12 per cent. Power producers are saying that nobody will be interested to borrow from banks at 16 per cent and invest for that rate of return. Independent Power Producers Association-Nepal (IPPAN) says that for 30 years, average PPA rate should be fixed at minimum Rs 6 per unit.
Dr Subarna Das Shrestha President of IPPAN said that due to high interest rate, ongoing projects are also on the verge of being scrapped.
Bhatbhateni Supermarket in Koteshwore
Bhatbhateni Supermarket and Departmental Store has opened its new outlet at Koteshwor from June 11. During the inauguration, Min Bahadur Gurung, Managing Director of Bhatbhateni, said that the new shopping centre is equipped with customer care desk, elevator and escalator for physically challenged people along with other modern amnesties.
He said that 200 people are getting employment in the supermarket out of which 90 per cent are women. The five–storey supermarket has been built at an investment of Rs 500 million. Gurung revealed that within this fiscal year, new supermarkets will be established at Jawalakhel and Chuchepati. He said its chain outlet in Pokhara is under construction. He also revealed that supermarkets at Bhatbhateni and Maharajgunj register an annual turnover of Rs 2 billion.
Electricity Development Corp within 15 Days
The government has announced to set up Electricity Development Corporation within 15 days from June 8. Gokarna Bista, Minister of Energy, said, I will show by establishing the corporation within 15 days. He added, Committee formed for the inception of the corporation is working to complete the task within seven days.
Finance Minister Bharat Mohan Adhikari said that legal consultations are going on for setting up of the corporation. He also revealed that the corporation will not be controlled by the government but will be an independent unit. World Bank, Asian Development Bank, China Exim Bank and other international entities will be invited to invest in the company. Bista said that the seed capital of the corporation will be around Rs 7 to 15 billion. The government had proposed the establishment of Electricity Development Corporation after declaring power emergency in the country some months ago.
Siddhartha and NMB to Operate Mutual Fund
Siddhartha Bank Limited has become the first company to file an application to the Securities Board of Nepal to work as a mutual fund. One year after the regulation came into force, first application for licence to run mutual fund has been registered.
Siddhartha Bank has begun the process of establishing a mutual fund under the name Siddhartha Mutual Fund. The bank is planning to establish fund under Siddhartha Asset Management, bank's sister organisation, according to Bhola Dhungana, Office Secretary of the bank. The fund will be established with Rs 100 million paid-up capital. The company has said it will begin operation as soon as it gets approval from the SEBON. Similarly, NMB Bank has also registered an application on SEBON to operate its NMB Mutual Fund. NMB has prepared necessary requirements for operating the mutual fund. The fund will be managed and operated by sister organisation of the company, NMB Capital Limited.
Interbank Lending For Six Months
Banks and Finance Companies can issue interbank loans for up to six months. Nepal Rastra Bank (NRB) has made a special provision for interbank loans with effect from June 27. Bhaskar Mani Gyawali, Spokesperson of NRB, said, To lower the pressure of liquidity, this special provision is made.
Now, commercial banks, development banks and finance companies can issue loans to each other against the acceptable collateral. According to Gyawali, such lending will be for six months on the maximum.
Progress in Amending Securities Transaction Act
The Securities Board of Nepal (SEBON) has presented a proposal to the Ministry of Finance (MoF) to amend the Securities Related Act 2007. Paristha Paudyal, Director at at the Board's Regulation Department said, the amendment is to accommodate a provision to authorise the Board to regulate the commodities exchanges as well.
In this year's budget, the government had announced to arrange for regulation of the commodities exchanges. Accordingly, a committee was formed with representatives from SEBON, MoF and commodities exchanges. The proposed draft amendment is based on the recommendation of the committee, said Paudyal. Currently, there are five exchange companies in operation while five more are trying to acquire license.
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<span style="">T</span><span style="font-size: 9.5pt;">he private sector has accused Nepal Electricity Authority (NEA) of deceiving electricity producers on the rate of Power Purchase Agreement (PPA). NEA has increased PPA rate by 20 per cent on projects up to 25 megawatts.</span></div>
<div style="margin-bottom: 0.0001pt; text-align: justify; line-height: 11pt; vertical-align: middle;">
<br />
</div>
<div style="margin-bottom: 0.0001pt; text-align: justify; text-indent: 14.15pt; line-height: 11pt; vertical-align: middle;">
<span style="font-size: 9.5pt;">Previously, electricity producers could raise price up to nine times in PPA rate but now they can increase up to only five times. With this, the PPA increase rate said to be 20 per cent will actually be 10 per cent, said Gyanendra Lal Pradhan, a power producer, The government promised to increase PPA by 20 per cent in projects that will be completed within four years but NEA did not follow it.</span></div>
<div style="margin-bottom: 0.0001pt; text-align: justify; text-indent: 14.15pt; line-height: 11pt; vertical-align: middle;">
<br />
</div>
<div style="margin-bottom: 0.0001pt; text-align: justify; text-indent: 14.15pt; line-height: 11pt; vertical-align: middle;">
<span style="font-size: 9.5pt;">The private sector is saying that with the latest increase, internal return rate will be lower than 12 per cent. Power producers are saying that nobody will be interested to borrow from banks at 16 per cent and invest for that rate of return. Independent Power Producers Association-Nepal (IPPAN) says that for 30 years, average PPA rate should be fixed at minimum Rs 6 per unit. </span></div>
<div style="margin-bottom: 0.0001pt; text-align: justify; text-indent: 14.15pt; line-height: 11pt; vertical-align: middle;">
<br />
</div>
<div style="text-align: justify;">
<span style="font-size: 9.5pt; line-height: 115%;">Dr Subarna Das Shrestha President of IPPAN said that due to high interest rate, ongoing projects are also on the verge of being scrapped.<br />
<br />
</span></div>
<div style="text-align: justify;">
<hr />
</div>
<div style="text-indent: 0in; text-align: center;">
<span style="font-size: 24pt; color: rgb(0, 92, 169);">Bhatbhateni Supermarket in Koteshwore</span></div>
<div style="text-indent: 0in; text-align: justify;">
<span style="font-size: 14pt;">B</span>hatbhateni Supermarket and Departmental Store has opened its new outlet at Koteshwor from June 11. During the inauguration, Min Bahadur Gurung, Managing Director of Bhatbhateni, said that the new shopping centre is equipped with customer care desk, elevator and escalator for physically challenged people along with other modern amnesties.</div>
<div style="text-indent: 0in; text-align: justify;">
<br />
</div>
<div style="text-align: justify;">
He said that 200 people are getting employment in the supermarket out of which 90 per cent are women. The five–storey supermarket has been built at an investment of Rs 500 million. Gurung revealed that within this fiscal year, new supermarkets will be established at Jawalakhel and Chuchepati. He said its chain outlet in Pokhara is under construction. He also revealed that supermarkets at Bhatbhateni and Maharajgunj register an annual turnover of Rs 2 billion.<br />
</div>
<div style="text-align: justify;">
<hr />
</div>
<div style="text-indent: 0in; text-align: center;">
<span style="font-size: 22pt; color: rgb(0, 92, 169);">Electricity Development Corp within 15 Days<br />
<br />
</span></div>
<div style="text-indent: 0in; text-align: justify;">
<span style="font-size: 11pt; letter-spacing: -0.25pt;">T</span><span style="letter-spacing: -0.25pt;">he government has announced to set up Electricity Development Corporation within 15 days from June 8. Gokarna Bista, Minister of Energy, said, I will show by establishing the corporation within 15 days. He added, Committee formed for the inception of the corporation is working to complete the task within seven days.</span></div>
<div style="text-indent: 0in; text-align: justify;">
</div>
<div style="text-align: justify;">
<span style="letter-spacing: -0.25pt;">Finance Minister Bharat Mohan Adhikari said that legal consultations are going on for setting up of the corporation. He also revealed that the corporation will not be controlled by the government but will be an independent unit. World Bank, Asian Development Bank, China Exim Bank and other international entities will be invited to invest in the company. Bista said that the seed capital of the corporation will be around Rs 7 to 15 billion. The government had proposed the establishment of Electricity Development Corporation after declaring power emergency in the country some months ago.<br />
<br />
</span></div>
<div style="text-align: justify;">
<hr />
</div>
<div style="text-indent: 0in; text-align: center;">
<span style="font-size: 20px;"><span style="color: rgb(0, 92, 169);"><br />
Siddhartha and NMB to Operate Mutual Fund<br />
<br />
</span></span></div>
<div style="text-indent: 0in; text-align: justify;">
<span style="font-size: 11pt;">S</span>iddhartha Bank Limited has become the first company to file an application to the Securities Board of Nepal to work as a mutual fund. One year after the regulation came into force, first application for licence to run mutual fund has been registered.</div>
<div style="text-indent: 0in; text-align: justify;">
<br />
</div>
<div style="text-align: justify;">
<span style="letter-spacing: -0.25pt;">Siddhartha Bank has begun the process of establishing a mutual fund under the name Siddhartha Mutual Fund. The bank is planning to establish fund under Siddhartha Asset Management, bank's sister organisation, according to Bhola Dhungana, Office Secretary of the bank. The fund will be established with Rs 100 million paid-up capital. The company has said it will begin operation as soon as it gets approval from the SEBON. Similarly, NMB Bank has also registered an application on SEBON to operate its NMB Mutual Fund. NMB has prepared necessary requirements for operating the mutual fund. The fund will be managed and operated by sister organisation of the company, NMB Capital Limited.<br />
<br />
</span></div>
<div style="text-align: justify;">
<hr />
</div>
<div style="text-indent: 0in; text-align: center;">
<span style="font-size: 24pt; color: rgb(0, 92, 169);"><br />
Interbank Lending For Six Months</span></div>
<div style="text-indent: 0in; text-align: justify;">
<span style="font-size: 12pt; letter-spacing: -0.25pt;">B</span><span style="letter-spacing: -0.25pt;">anks and Finance Companies can issue interbank loans for up to six months. Nepal Rastra Bank (NRB) has made a special provision for interbank loans with effect from June 27. Bhaskar Mani Gyawali, Spokesperson of NRB, said, To lower the pressure of liquidity, this special provision is made.<br />
<br />
</span></div>
<div style="text-align: justify;">
Now, commercial banks, development banks and finance companies can issue loans to each other against the acceptable collateral. According to Gyawali, such lending will be for six months on the maximum. </div>
<div style="text-align: justify;">
<br />
</div>
<div style="text-align: justify;">
<hr />
</div>
<div style="text-indent: 0in; text-align: center;">
<span style="font-size: 20pt; color: rgb(0, 92, 169);"><br />
Progress in Amending Securities Transaction Act<br />
<br />
</span></div>
<div style="text-indent: 0in; text-align: justify;">
<span style="font-size: 11pt;">T</span>he Securities Board of Nepal (SEBON) has presented a proposal to the Ministry of Finance (MoF) to amend the Securities Related Act 2007. Paristha Paudyal, Director at at the Board's Regulation Department said, the amendment is to accommodate a provision to authorise the Board to regulate the commodities exchanges as well.</div>
<div style="text-indent: 0in; text-align: justify;">
<br />
</div>
<p style="text-align: justify;">
<span style="font-size: 11pt; line-height: 115%;">In this year's budget, the government had announced to arrange for regulation of the commodities exchanges. Accordingly, a committee was formed with representatives from SEBON, MoF and commodities exchanges. The proposed draft amendment is based on the recommendation of the committee, said Paudyal. Currently, there are five exchange companies in operation while five more are trying to acquire license. </span></p>',
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<span style="">T</span><span style="font-size: 9.5pt;">he private sector has accused Nepal Electricity Authority (NEA) of deceiving electricity producers on the rate of Power Purchase Agreement (PPA). NEA has increased PPA rate by 20 per cent on projects up to 25 megawatts.</span></div>
<div style="margin-bottom: 0.0001pt; text-align: justify; line-height: 11pt; vertical-align: middle;">
<br />
</div>
<div style="margin-bottom: 0.0001pt; text-align: justify; text-indent: 14.15pt; line-height: 11pt; vertical-align: middle;">
<span style="font-size: 9.5pt;">Previously, electricity producers could raise price up to nine times in PPA rate but now they can increase up to only five times. With this, the PPA increase rate said to be 20 per cent will actually be 10 per cent, said Gyanendra Lal Pradhan, a power producer, The government promised to increase PPA by 20 per cent in projects that will be completed within four years but NEA did not follow it.</span></div>
<div style="margin-bottom: 0.0001pt; text-align: justify; text-indent: 14.15pt; line-height: 11pt; vertical-align: middle;">
<br />
</div>
<div style="margin-bottom: 0.0001pt; text-align: justify; text-indent: 14.15pt; line-height: 11pt; vertical-align: middle;">
<span style="font-size: 9.5pt;">The private sector is saying that with the latest increase, internal return rate will be lower than 12 per cent. Power producers are saying that nobody will be interested to borrow from banks at 16 per cent and invest for that rate of return. Independent Power Producers Association-Nepal (IPPAN) says that for 30 years, average PPA rate should be fixed at minimum Rs 6 per unit. </span></div>
<div style="margin-bottom: 0.0001pt; text-align: justify; text-indent: 14.15pt; line-height: 11pt; vertical-align: middle;">
<br />
</div>
<div style="text-align: justify;">
<span style="font-size: 9.5pt; line-height: 115%;">Dr Subarna Das Shrestha President of IPPAN said that due to high interest rate, ongoing projects are also on the verge of being scrapped.<br />
<br />
</span></div>
<div style="text-align: justify;">
<hr />
</div>
<div style="text-indent: 0in; text-align: center;">
<span style="font-size: 24pt; color: rgb(0, 92, 169);">Bhatbhateni Supermarket in Koteshwore</span></div>
<div style="text-indent: 0in; text-align: justify;">
<span style="font-size: 14pt;">B</span>hatbhateni Supermarket and Departmental Store has opened its new outlet at Koteshwor from June 11. During the inauguration, Min Bahadur Gurung, Managing Director of Bhatbhateni, said that the new shopping centre is equipped with customer care desk, elevator and escalator for physically challenged people along with other modern amnesties.</div>
<div style="text-indent: 0in; text-align: justify;">
<br />
</div>
<div style="text-align: justify;">
He said that 200 people are getting employment in the supermarket out of which 90 per cent are women. The five–storey supermarket has been built at an investment of Rs 500 million. Gurung revealed that within this fiscal year, new supermarkets will be established at Jawalakhel and Chuchepati. He said its chain outlet in Pokhara is under construction. He also revealed that supermarkets at Bhatbhateni and Maharajgunj register an annual turnover of Rs 2 billion.<br />
</div>
<div style="text-align: justify;">
<hr />
</div>
<div style="text-indent: 0in; text-align: center;">
<span style="font-size: 22pt; color: rgb(0, 92, 169);">Electricity Development Corp within 15 Days<br />
<br />
</span></div>
<div style="text-indent: 0in; text-align: justify;">
<span style="font-size: 11pt; letter-spacing: -0.25pt;">T</span><span style="letter-spacing: -0.25pt;">he government has announced to set up Electricity Development Corporation within 15 days from June 8. Gokarna Bista, Minister of Energy, said, I will show by establishing the corporation within 15 days. He added, Committee formed for the inception of the corporation is working to complete the task within seven days.</span></div>
<div style="text-indent: 0in; text-align: justify;">
</div>
<div style="text-align: justify;">
<span style="letter-spacing: -0.25pt;">Finance Minister Bharat Mohan Adhikari said that legal consultations are going on for setting up of the corporation. He also revealed that the corporation will not be controlled by the government but will be an independent unit. World Bank, Asian Development Bank, China Exim Bank and other international entities will be invited to invest in the company. Bista said that the seed capital of the corporation will be around Rs 7 to 15 billion. The government had proposed the establishment of Electricity Development Corporation after declaring power emergency in the country some months ago.<br />
<br />
</span></div>
<div style="text-align: justify;">
<hr />
</div>
<div style="text-indent: 0in; text-align: center;">
<span style="font-size: 20px;"><span style="color: rgb(0, 92, 169);"><br />
Siddhartha and NMB to Operate Mutual Fund<br />
<br />
</span></span></div>
<div style="text-indent: 0in; text-align: justify;">
<span style="font-size: 11pt;">S</span>iddhartha Bank Limited has become the first company to file an application to the Securities Board of Nepal to work as a mutual fund. One year after the regulation came into force, first application for licence to run mutual fund has been registered.</div>
<div style="text-indent: 0in; text-align: justify;">
<br />
</div>
<div style="text-align: justify;">
<span style="letter-spacing: -0.25pt;">Siddhartha Bank has begun the process of establishing a mutual fund under the name Siddhartha Mutual Fund. The bank is planning to establish fund under Siddhartha Asset Management, bank's sister organisation, according to Bhola Dhungana, Office Secretary of the bank. The fund will be established with Rs 100 million paid-up capital. The company has said it will begin operation as soon as it gets approval from the SEBON. Similarly, NMB Bank has also registered an application on SEBON to operate its NMB Mutual Fund. NMB has prepared necessary requirements for operating the mutual fund. The fund will be managed and operated by sister organisation of the company, NMB Capital Limited.<br />
<br />
</span></div>
<div style="text-align: justify;">
<hr />
</div>
<div style="text-indent: 0in; text-align: center;">
<span style="font-size: 24pt; color: rgb(0, 92, 169);"><br />
Interbank Lending For Six Months</span></div>
<div style="text-indent: 0in; text-align: justify;">
<span style="font-size: 12pt; letter-spacing: -0.25pt;">B</span><span style="letter-spacing: -0.25pt;">anks and Finance Companies can issue interbank loans for up to six months. Nepal Rastra Bank (NRB) has made a special provision for interbank loans with effect from June 27. Bhaskar Mani Gyawali, Spokesperson of NRB, said, To lower the pressure of liquidity, this special provision is made.<br />
<br />
</span></div>
<div style="text-align: justify;">
Now, commercial banks, development banks and finance companies can issue loans to each other against the acceptable collateral. According to Gyawali, such lending will be for six months on the maximum. </div>
<div style="text-align: justify;">
<br />
</div>
<div style="text-align: justify;">
<hr />
</div>
<div style="text-indent: 0in; text-align: center;">
<span style="font-size: 20pt; color: rgb(0, 92, 169);"><br />
Progress in Amending Securities Transaction Act<br />
<br />
</span></div>
<div style="text-indent: 0in; text-align: justify;">
<span style="font-size: 11pt;">T</span>he Securities Board of Nepal (SEBON) has presented a proposal to the Ministry of Finance (MoF) to amend the Securities Related Act 2007. Paristha Paudyal, Director at at the Board's Regulation Department said, the amendment is to accommodate a provision to authorise the Board to regulate the commodities exchanges as well.</div>
<div style="text-indent: 0in; text-align: justify;">
<br />
</div>
<p style="text-align: justify;">
<span style="font-size: 11pt; line-height: 115%;">In this year's budget, the government had announced to arrange for regulation of the commodities exchanges. Accordingly, a committee was formed with representatives from SEBON, MoF and commodities exchanges. The proposed draft amendment is based on the recommendation of the committee, said Paudyal. Currently, there are five exchange companies in operation while five more are trying to acquire license. </span></p>',
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<span style="">T</span><span style="font-size: 9.5pt;">he private sector has accused Nepal Electricity Authority (NEA) of deceiving electricity producers on the rate of Power Purchase Agreement (PPA). NEA has increased PPA rate by 20 per cent on projects up to 25 megawatts.</span></div>
<div style="margin-bottom: 0.0001pt; text-align: justify; line-height: 11pt; vertical-align: middle;">
<br />
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<div style="margin-bottom: 0.0001pt; text-align: justify; text-indent: 14.15pt; line-height: 11pt; vertical-align: middle;">
<span style="font-size: 9.5pt;">Previously, electricity producers could raise price up to nine times in PPA rate but now they can increase up to only five times. With this, the PPA increase rate said to be 20 per cent will actually be 10 per cent, said Gyanendra Lal Pradhan, a power producer, The government promised to increase PPA by 20 per cent in projects that will be completed within four years but NEA did not follow it.</span></div>
<div style="margin-bottom: 0.0001pt; text-align: justify; text-indent: 14.15pt; line-height: 11pt; vertical-align: middle;">
<br />
</div>
<div style="margin-bottom: 0.0001pt; text-align: justify; text-indent: 14.15pt; line-height: 11pt; vertical-align: middle;">
<span style="font-size: 9.5pt;">The private sector is saying that with the latest increase, internal return rate will be lower than 12 per cent. Power producers are saying that nobody will be interested to borrow from banks at 16 per cent and invest for that rate of return. Independent Power Producers Association-Nepal (IPPAN) says that for 30 years, average PPA rate should be fixed at minimum Rs 6 per unit. </span></div>
<div style="margin-bottom: 0.0001pt; text-align: justify; text-indent: 14.15pt; line-height: 11pt; vertical-align: middle;">
<br />
</div>
<div style="text-align: justify;">
<span style="font-size: 9.5pt; line-height: 115%;">Dr Subarna Das Shrestha President of IPPAN said that due to high interest rate, ongoing projects are also on the verge of being scrapped.<br />
<br />
</span></div>
<div style="text-align: justify;">
<hr />
</div>
<div style="text-indent: 0in; text-align: center;">
<span style="font-size: 24pt; color: rgb(0, 92, 169);">Bhatbhateni Supermarket in Koteshwore</span></div>
<div style="text-indent: 0in; text-align: justify;">
<span style="font-size: 14pt;">B</span>hatbhateni Supermarket and Departmental Store has opened its new outlet at Koteshwor from June 11. During the inauguration, Min Bahadur Gurung, Managing Director of Bhatbhateni, said that the new shopping centre is equipped with customer care desk, elevator and escalator for physically challenged people along with other modern amnesties.</div>
<div style="text-indent: 0in; text-align: justify;">
<br />
</div>
<div style="text-align: justify;">
He said that 200 people are getting employment in the supermarket out of which 90 per cent are women. The five–storey supermarket has been built at an investment of Rs 500 million. Gurung revealed that within this fiscal year, new supermarkets will be established at Jawalakhel and Chuchepati. He said its chain outlet in Pokhara is under construction. He also revealed that supermarkets at Bhatbhateni and Maharajgunj register an annual turnover of Rs 2 billion.<br />
</div>
<div style="text-align: justify;">
<hr />
</div>
<div style="text-indent: 0in; text-align: center;">
<span style="font-size: 22pt; color: rgb(0, 92, 169);">Electricity Development Corp within 15 Days<br />
<br />
</span></div>
<div style="text-indent: 0in; text-align: justify;">
<span style="font-size: 11pt; letter-spacing: -0.25pt;">T</span><span style="letter-spacing: -0.25pt;">he government has announced to set up Electricity Development Corporation within 15 days from June 8. Gokarna Bista, Minister of Energy, said, I will show by establishing the corporation within 15 days. He added, Committee formed for the inception of the corporation is working to complete the task within seven days.</span></div>
<div style="text-indent: 0in; text-align: justify;">
</div>
<div style="text-align: justify;">
<span style="letter-spacing: -0.25pt;">Finance Minister Bharat Mohan Adhikari said that legal consultations are going on for setting up of the corporation. He also revealed that the corporation will not be controlled by the government but will be an independent unit. World Bank, Asian Development Bank, China Exim Bank and other international entities will be invited to invest in the company. Bista said that the seed capital of the corporation will be around Rs 7 to 15 billion. The government had proposed the establishment of Electricity Development Corporation after declaring power emergency in the country some months ago.<br />
<br />
</span></div>
<div style="text-align: justify;">
<hr />
</div>
<div style="text-indent: 0in; text-align: center;">
<span style="font-size: 20px;"><span style="color: rgb(0, 92, 169);"><br />
Siddhartha and NMB to Operate Mutual Fund<br />
<br />
</span></span></div>
<div style="text-indent: 0in; text-align: justify;">
<span style="font-size: 11pt;">S</span>iddhartha Bank Limited has become the first company to file an application to the Securities Board of Nepal to work as a mutual fund. One year after the regulation came into force, first application for licence to run mutual fund has been registered.</div>
<div style="text-indent: 0in; text-align: justify;">
<br />
</div>
<div style="text-align: justify;">
<span style="letter-spacing: -0.25pt;">Siddhartha Bank has begun the process of establishing a mutual fund under the name Siddhartha Mutual Fund. The bank is planning to establish fund under Siddhartha Asset Management, bank's sister organisation, according to Bhola Dhungana, Office Secretary of the bank. The fund will be established with Rs 100 million paid-up capital. The company has said it will begin operation as soon as it gets approval from the SEBON. Similarly, NMB Bank has also registered an application on SEBON to operate its NMB Mutual Fund. NMB has prepared necessary requirements for operating the mutual fund. The fund will be managed and operated by sister organisation of the company, NMB Capital Limited.<br />
<br />
</span></div>
<div style="text-align: justify;">
<hr />
</div>
<div style="text-indent: 0in; text-align: center;">
<span style="font-size: 24pt; color: rgb(0, 92, 169);"><br />
Interbank Lending For Six Months</span></div>
<div style="text-indent: 0in; text-align: justify;">
<span style="font-size: 12pt; letter-spacing: -0.25pt;">B</span><span style="letter-spacing: -0.25pt;">anks and Finance Companies can issue interbank loans for up to six months. Nepal Rastra Bank (NRB) has made a special provision for interbank loans with effect from June 27. Bhaskar Mani Gyawali, Spokesperson of NRB, said, To lower the pressure of liquidity, this special provision is made.<br />
<br />
</span></div>
<div style="text-align: justify;">
Now, commercial banks, development banks and finance companies can issue loans to each other against the acceptable collateral. According to Gyawali, such lending will be for six months on the maximum. </div>
<div style="text-align: justify;">
<br />
</div>
<div style="text-align: justify;">
<hr />
</div>
<div style="text-indent: 0in; text-align: center;">
<span style="font-size: 20pt; color: rgb(0, 92, 169);"><br />
Progress in Amending Securities Transaction Act<br />
<br />
</span></div>
<div style="text-indent: 0in; text-align: justify;">
<span style="font-size: 11pt;">T</span>he Securities Board of Nepal (SEBON) has presented a proposal to the Ministry of Finance (MoF) to amend the Securities Related Act 2007. Paristha Paudyal, Director at at the Board's Regulation Department said, the amendment is to accommodate a provision to authorise the Board to regulate the commodities exchanges as well.</div>
<div style="text-indent: 0in; text-align: justify;">
<br />
</div>
<p style="text-align: justify;">
<span style="font-size: 11pt; line-height: 115%;">In this year's budget, the government had announced to arrange for regulation of the commodities exchanges. Accordingly, a committee was formed with representatives from SEBON, MoF and commodities exchanges. The proposed draft amendment is based on the recommendation of the committee, said Paudyal. Currently, there are five exchange companies in operation while five more are trying to acquire license. </span></p>',
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<span style="">T</span><span style="font-size: 9.5pt;">he private sector has accused Nepal Electricity Authority (NEA) of deceiving electricity producers on the rate of Power Purchase Agreement (PPA). NEA has increased PPA rate by 20 per cent on projects up to 25 megawatts.</span></div>
<div style="margin-bottom: 0.0001pt; text-align: justify; line-height: 11pt; vertical-align: middle;">
<br />
</div>
<div style="margin-bottom: 0.0001pt; text-align: justify; text-indent: 14.15pt; line-height: 11pt; vertical-align: middle;">
<span style="font-size: 9.5pt;">Previously, electricity producers could raise price up to nine times in PPA rate but now they can increase up to only five times. With this, the PPA increase rate said to be 20 per cent will actually be 10 per cent, said Gyanendra Lal Pradhan, a power producer, The government promised to increase PPA by 20 per cent in projects that will be completed within four years but NEA did not follow it.</span></div>
<div style="margin-bottom: 0.0001pt; text-align: justify; text-indent: 14.15pt; line-height: 11pt; vertical-align: middle;">
<br />
</div>
<div style="margin-bottom: 0.0001pt; text-align: justify; text-indent: 14.15pt; line-height: 11pt; vertical-align: middle;">
<span style="font-size: 9.5pt;">The private sector is saying that with the latest increase, internal return rate will be lower than 12 per cent. Power producers are saying that nobody will be interested to borrow from banks at 16 per cent and invest for that rate of return. Independent Power Producers Association-Nepal (IPPAN) says that for 30 years, average PPA rate should be fixed at minimum Rs 6 per unit. </span></div>
<div style="margin-bottom: 0.0001pt; text-align: justify; text-indent: 14.15pt; line-height: 11pt; vertical-align: middle;">
<br />
</div>
<div style="text-align: justify;">
<span style="font-size: 9.5pt; line-height: 115%;">Dr Subarna Das Shrestha President of IPPAN said that due to high interest rate, ongoing projects are also on the verge of being scrapped.<br />
<br />
</span></div>
<div style="text-align: justify;">
<hr />
</div>
<div style="text-indent: 0in; text-align: center;">
<span style="font-size: 24pt; color: rgb(0, 92, 169);">Bhatbhateni Supermarket in Koteshwore</span></div>
<div style="text-indent: 0in; text-align: justify;">
<span style="font-size: 14pt;">B</span>hatbhateni Supermarket and Departmental Store has opened its new outlet at Koteshwor from June 11. During the inauguration, Min Bahadur Gurung, Managing Director of Bhatbhateni, said that the new shopping centre is equipped with customer care desk, elevator and escalator for physically challenged people along with other modern amnesties.</div>
<div style="text-indent: 0in; text-align: justify;">
<br />
</div>
<div style="text-align: justify;">
He said that 200 people are getting employment in the supermarket out of which 90 per cent are women. The five–storey supermarket has been built at an investment of Rs 500 million. Gurung revealed that within this fiscal year, new supermarkets will be established at Jawalakhel and Chuchepati. He said its chain outlet in Pokhara is under construction. He also revealed that supermarkets at Bhatbhateni and Maharajgunj register an annual turnover of Rs 2 billion.<br />
</div>
<div style="text-align: justify;">
<hr />
</div>
<div style="text-indent: 0in; text-align: center;">
<span style="font-size: 22pt; color: rgb(0, 92, 169);">Electricity Development Corp within 15 Days<br />
<br />
</span></div>
<div style="text-indent: 0in; text-align: justify;">
<span style="font-size: 11pt; letter-spacing: -0.25pt;">T</span><span style="letter-spacing: -0.25pt;">he government has announced to set up Electricity Development Corporation within 15 days from June 8. Gokarna Bista, Minister of Energy, said, I will show by establishing the corporation within 15 days. He added, Committee formed for the inception of the corporation is working to complete the task within seven days.</span></div>
<div style="text-indent: 0in; text-align: justify;">
</div>
<div style="text-align: justify;">
<span style="letter-spacing: -0.25pt;">Finance Minister Bharat Mohan Adhikari said that legal consultations are going on for setting up of the corporation. He also revealed that the corporation will not be controlled by the government but will be an independent unit. World Bank, Asian Development Bank, China Exim Bank and other international entities will be invited to invest in the company. Bista said that the seed capital of the corporation will be around Rs 7 to 15 billion. The government had proposed the establishment of Electricity Development Corporation after declaring power emergency in the country some months ago.<br />
<br />
</span></div>
<div style="text-align: justify;">
<hr />
</div>
<div style="text-indent: 0in; text-align: center;">
<span style="font-size: 20px;"><span style="color: rgb(0, 92, 169);"><br />
Siddhartha and NMB to Operate Mutual Fund<br />
<br />
</span></span></div>
<div style="text-indent: 0in; text-align: justify;">
<span style="font-size: 11pt;">S</span>iddhartha Bank Limited has become the first company to file an application to the Securities Board of Nepal to work as a mutual fund. One year after the regulation came into force, first application for licence to run mutual fund has been registered.</div>
<div style="text-indent: 0in; text-align: justify;">
<br />
</div>
<div style="text-align: justify;">
<span style="letter-spacing: -0.25pt;">Siddhartha Bank has begun the process of establishing a mutual fund under the name Siddhartha Mutual Fund. The bank is planning to establish fund under Siddhartha Asset Management, bank's sister organisation, according to Bhola Dhungana, Office Secretary of the bank. The fund will be established with Rs 100 million paid-up capital. The company has said it will begin operation as soon as it gets approval from the SEBON. Similarly, NMB Bank has also registered an application on SEBON to operate its NMB Mutual Fund. NMB has prepared necessary requirements for operating the mutual fund. The fund will be managed and operated by sister organisation of the company, NMB Capital Limited.<br />
<br />
</span></div>
<div style="text-align: justify;">
<hr />
</div>
<div style="text-indent: 0in; text-align: center;">
<span style="font-size: 24pt; color: rgb(0, 92, 169);"><br />
Interbank Lending For Six Months</span></div>
<div style="text-indent: 0in; text-align: justify;">
<span style="font-size: 12pt; letter-spacing: -0.25pt;">B</span><span style="letter-spacing: -0.25pt;">anks and Finance Companies can issue interbank loans for up to six months. Nepal Rastra Bank (NRB) has made a special provision for interbank loans with effect from June 27. Bhaskar Mani Gyawali, Spokesperson of NRB, said, To lower the pressure of liquidity, this special provision is made.<br />
<br />
</span></div>
<div style="text-align: justify;">
Now, commercial banks, development banks and finance companies can issue loans to each other against the acceptable collateral. According to Gyawali, such lending will be for six months on the maximum. </div>
<div style="text-align: justify;">
<br />
</div>
<div style="text-align: justify;">
<hr />
</div>
<div style="text-indent: 0in; text-align: center;">
<span style="font-size: 20pt; color: rgb(0, 92, 169);"><br />
Progress in Amending Securities Transaction Act<br />
<br />
</span></div>
<div style="text-indent: 0in; text-align: justify;">
<span style="font-size: 11pt;">T</span>he Securities Board of Nepal (SEBON) has presented a proposal to the Ministry of Finance (MoF) to amend the Securities Related Act 2007. Paristha Paudyal, Director at at the Board's Regulation Department said, the amendment is to accommodate a provision to authorise the Board to regulate the commodities exchanges as well.</div>
<div style="text-indent: 0in; text-align: justify;">
<br />
</div>
<p style="text-align: justify;">
<span style="font-size: 11pt; line-height: 115%;">In this year's budget, the government had announced to arrange for regulation of the commodities exchanges. Accordingly, a committee was formed with representatives from SEBON, MoF and commodities exchanges. The proposed draft amendment is based on the recommendation of the committee, said Paudyal. Currently, there are five exchange companies in operation while five more are trying to acquire license. </span></p>',
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'content' => '<div style="margin-bottom: 0.0001pt; text-align: justify; line-height: 11pt; vertical-align: middle;">
<span style="">T</span><span style="font-size: 9.5pt;">he private sector has accused Nepal Electricity Authority (NEA) of deceiving electricity producers on the rate of Power Purchase Agreement (PPA). NEA has increased PPA rate by 20 per cent on projects up to 25 megawatts.</span></div>
<div style="margin-bottom: 0.0001pt; text-align: justify; line-height: 11pt; vertical-align: middle;">
<br />
</div>
<div style="margin-bottom: 0.0001pt; text-align: justify; text-indent: 14.15pt; line-height: 11pt; vertical-align: middle;">
<span style="font-size: 9.5pt;">Previously, electricity producers could raise price up to nine times in PPA rate but now they can increase up to only five times. With this, the PPA increase rate said to be 20 per cent will actually be 10 per cent, said Gyanendra Lal Pradhan, a power producer, The government promised to increase PPA by 20 per cent in projects that will be completed within four years but NEA did not follow it.</span></div>
<div style="margin-bottom: 0.0001pt; text-align: justify; text-indent: 14.15pt; line-height: 11pt; vertical-align: middle;">
<br />
</div>
<div style="margin-bottom: 0.0001pt; text-align: justify; text-indent: 14.15pt; line-height: 11pt; vertical-align: middle;">
<span style="font-size: 9.5pt;">The private sector is saying that with the latest increase, internal return rate will be lower than 12 per cent. Power producers are saying that nobody will be interested to borrow from banks at 16 per cent and invest for that rate of return. Independent Power Producers Association-Nepal (IPPAN) says that for 30 years, average PPA rate should be fixed at minimum Rs 6 per unit. </span></div>
<div style="margin-bottom: 0.0001pt; text-align: justify; text-indent: 14.15pt; line-height: 11pt; vertical-align: middle;">
<br />
</div>
<div style="text-align: justify;">
<span style="font-size: 9.5pt; line-height: 115%;">Dr Subarna Das Shrestha President of IPPAN said that due to high interest rate, ongoing projects are also on the verge of being scrapped.<br />
<br />
</span></div>
<div style="text-align: justify;">
<hr />
</div>
<div style="text-indent: 0in; text-align: center;">
<span style="font-size: 24pt; color: rgb(0, 92, 169);">Bhatbhateni Supermarket in Koteshwore</span></div>
<div style="text-indent: 0in; text-align: justify;">
<span style="font-size: 14pt;">B</span>hatbhateni Supermarket and Departmental Store has opened its new outlet at Koteshwor from June 11. During the inauguration, Min Bahadur Gurung, Managing Director of Bhatbhateni, said that the new shopping centre is equipped with customer care desk, elevator and escalator for physically challenged people along with other modern amnesties.</div>
<div style="text-indent: 0in; text-align: justify;">
<br />
</div>
<div style="text-align: justify;">
He said that 200 people are getting employment in the supermarket out of which 90 per cent are women. The five–storey supermarket has been built at an investment of Rs 500 million. Gurung revealed that within this fiscal year, new supermarkets will be established at Jawalakhel and Chuchepati. He said its chain outlet in Pokhara is under construction. He also revealed that supermarkets at Bhatbhateni and Maharajgunj register an annual turnover of Rs 2 billion.<br />
</div>
<div style="text-align: justify;">
<hr />
</div>
<div style="text-indent: 0in; text-align: center;">
<span style="font-size: 22pt; color: rgb(0, 92, 169);">Electricity Development Corp within 15 Days<br />
<br />
</span></div>
<div style="text-indent: 0in; text-align: justify;">
<span style="font-size: 11pt; letter-spacing: -0.25pt;">T</span><span style="letter-spacing: -0.25pt;">he government has announced to set up Electricity Development Corporation within 15 days from June 8. Gokarna Bista, Minister of Energy, said, I will show by establishing the corporation within 15 days. He added, Committee formed for the inception of the corporation is working to complete the task within seven days.</span></div>
<div style="text-indent: 0in; text-align: justify;">
</div>
<div style="text-align: justify;">
<span style="letter-spacing: -0.25pt;">Finance Minister Bharat Mohan Adhikari said that legal consultations are going on for setting up of the corporation. He also revealed that the corporation will not be controlled by the government but will be an independent unit. World Bank, Asian Development Bank, China Exim Bank and other international entities will be invited to invest in the company. Bista said that the seed capital of the corporation will be around Rs 7 to 15 billion. The government had proposed the establishment of Electricity Development Corporation after declaring power emergency in the country some months ago.<br />
<br />
</span></div>
<div style="text-align: justify;">
<hr />
</div>
<div style="text-indent: 0in; text-align: center;">
<span style="font-size: 20px;"><span style="color: rgb(0, 92, 169);"><br />
Siddhartha and NMB to Operate Mutual Fund<br />
<br />
</span></span></div>
<div style="text-indent: 0in; text-align: justify;">
<span style="font-size: 11pt;">S</span>iddhartha Bank Limited has become the first company to file an application to the Securities Board of Nepal to work as a mutual fund. One year after the regulation came into force, first application for licence to run mutual fund has been registered.</div>
<div style="text-indent: 0in; text-align: justify;">
<br />
</div>
<div style="text-align: justify;">
<span style="letter-spacing: -0.25pt;">Siddhartha Bank has begun the process of establishing a mutual fund under the name Siddhartha Mutual Fund. The bank is planning to establish fund under Siddhartha Asset Management, bank's sister organisation, according to Bhola Dhungana, Office Secretary of the bank. The fund will be established with Rs 100 million paid-up capital. The company has said it will begin operation as soon as it gets approval from the SEBON. Similarly, NMB Bank has also registered an application on SEBON to operate its NMB Mutual Fund. NMB has prepared necessary requirements for operating the mutual fund. The fund will be managed and operated by sister organisation of the company, NMB Capital Limited.<br />
<br />
</span></div>
<div style="text-align: justify;">
<hr />
</div>
<div style="text-indent: 0in; text-align: center;">
<span style="font-size: 24pt; color: rgb(0, 92, 169);"><br />
Interbank Lending For Six Months</span></div>
<div style="text-indent: 0in; text-align: justify;">
<span style="font-size: 12pt; letter-spacing: -0.25pt;">B</span><span style="letter-spacing: -0.25pt;">anks and Finance Companies can issue interbank loans for up to six months. Nepal Rastra Bank (NRB) has made a special provision for interbank loans with effect from June 27. Bhaskar Mani Gyawali, Spokesperson of NRB, said, To lower the pressure of liquidity, this special provision is made.<br />
<br />
</span></div>
<div style="text-align: justify;">
Now, commercial banks, development banks and finance companies can issue loans to each other against the acceptable collateral. According to Gyawali, such lending will be for six months on the maximum. </div>
<div style="text-align: justify;">
<br />
</div>
<div style="text-align: justify;">
<hr />
</div>
<div style="text-indent: 0in; text-align: center;">
<span style="font-size: 20pt; color: rgb(0, 92, 169);"><br />
Progress in Amending Securities Transaction Act<br />
<br />
</span></div>
<div style="text-indent: 0in; text-align: justify;">
<span style="font-size: 11pt;">T</span>he Securities Board of Nepal (SEBON) has presented a proposal to the Ministry of Finance (MoF) to amend the Securities Related Act 2007. Paristha Paudyal, Director at at the Board's Regulation Department said, the amendment is to accommodate a provision to authorise the Board to regulate the commodities exchanges as well.</div>
<div style="text-indent: 0in; text-align: justify;">
<br />
</div>
<p style="text-align: justify;">
<span style="font-size: 11pt; line-height: 115%;">In this year's budget, the government had announced to arrange for regulation of the commodities exchanges. Accordingly, a committee was formed with representatives from SEBON, MoF and commodities exchanges. The proposed draft amendment is based on the recommendation of the committee, said Paudyal. Currently, there are five exchange companies in operation while five more are trying to acquire license. </span></p>',
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<span style="">T</span><span style="font-size: 9.5pt;">he private sector has accused Nepal Electricity Authority (NEA) of deceiving electricity producers on the rate of Power Purchase Agreement (PPA). NEA has increased PPA rate by 20 per cent on projects up to 25 megawatts.</span></div>
<div style="margin-bottom: 0.0001pt; text-align: justify; line-height: 11pt; vertical-align: middle;">
<br />
</div>
<div style="margin-bottom: 0.0001pt; text-align: justify; text-indent: 14.15pt; line-height: 11pt; vertical-align: middle;">
<span style="font-size: 9.5pt;">Previously, electricity producers could raise price up to nine times in PPA rate but now they can increase up to only five times. With this, the PPA increase rate said to be 20 per cent will actually be 10 per cent, said Gyanendra Lal Pradhan, a power producer, The government promised to increase PPA by 20 per cent in projects that will be completed within four years but NEA did not follow it.</span></div>
<div style="margin-bottom: 0.0001pt; text-align: justify; text-indent: 14.15pt; line-height: 11pt; vertical-align: middle;">
<br />
</div>
<div style="margin-bottom: 0.0001pt; text-align: justify; text-indent: 14.15pt; line-height: 11pt; vertical-align: middle;">
<span style="font-size: 9.5pt;">The private sector is saying that with the latest increase, internal return rate will be lower than 12 per cent. Power producers are saying that nobody will be interested to borrow from banks at 16 per cent and invest for that rate of return. Independent Power Producers Association-Nepal (IPPAN) says that for 30 years, average PPA rate should be fixed at minimum Rs 6 per unit. </span></div>
<div style="margin-bottom: 0.0001pt; text-align: justify; text-indent: 14.15pt; line-height: 11pt; vertical-align: middle;">
<br />
</div>
<div style="text-align: justify;">
<span style="font-size: 9.5pt; line-height: 115%;">Dr Subarna Das Shrestha President of IPPAN said that due to high interest rate, ongoing projects are also on the verge of being scrapped.<br />
<br />
</span></div>
<div style="text-align: justify;">
<hr />
</div>
<div style="text-indent: 0in; text-align: center;">
<span style="font-size: 24pt; color: rgb(0, 92, 169);">Bhatbhateni Supermarket in Koteshwore</span></div>
<div style="text-indent: 0in; text-align: justify;">
<span style="font-size: 14pt;">B</span>hatbhateni Supermarket and Departmental Store has opened its new outlet at Koteshwor from June 11. During the inauguration, Min Bahadur Gurung, Managing Director of Bhatbhateni, said that the new shopping centre is equipped with customer care desk, elevator and escalator for physically challenged people along with other modern amnesties.</div>
<div style="text-indent: 0in; text-align: justify;">
<br />
</div>
<div style="text-align: justify;">
He said that 200 people are getting employment in the supermarket out of which 90 per cent are women. The five–storey supermarket has been built at an investment of Rs 500 million. Gurung revealed that within this fiscal year, new supermarkets will be established at Jawalakhel and Chuchepati. He said its chain outlet in Pokhara is under construction. He also revealed that supermarkets at Bhatbhateni and Maharajgunj register an annual turnover of Rs 2 billion.<br />
</div>
<div style="text-align: justify;">
<hr />
</div>
<div style="text-indent: 0in; text-align: center;">
<span style="font-size: 22pt; color: rgb(0, 92, 169);">Electricity Development Corp within 15 Days<br />
<br />
</span></div>
<div style="text-indent: 0in; text-align: justify;">
<span style="font-size: 11pt; letter-spacing: -0.25pt;">T</span><span style="letter-spacing: -0.25pt;">he government has announced to set up Electricity Development Corporation within 15 days from June 8. Gokarna Bista, Minister of Energy, said, I will show by establishing the corporation within 15 days. He added, Committee formed for the inception of the corporation is working to complete the task within seven days.</span></div>
<div style="text-indent: 0in; text-align: justify;">
</div>
<div style="text-align: justify;">
<span style="letter-spacing: -0.25pt;">Finance Minister Bharat Mohan Adhikari said that legal consultations are going on for setting up of the corporation. He also revealed that the corporation will not be controlled by the government but will be an independent unit. World Bank, Asian Development Bank, China Exim Bank and other international entities will be invited to invest in the company. Bista said that the seed capital of the corporation will be around Rs 7 to 15 billion. The government had proposed the establishment of Electricity Development Corporation after declaring power emergency in the country some months ago.<br />
<br />
</span></div>
<div style="text-align: justify;">
<hr />
</div>
<div style="text-indent: 0in; text-align: center;">
<span style="font-size: 20px;"><span style="color: rgb(0, 92, 169);"><br />
Siddhartha and NMB to Operate Mutual Fund<br />
<br />
</span></span></div>
<div style="text-indent: 0in; text-align: justify;">
<span style="font-size: 11pt;">S</span>iddhartha Bank Limited has become the first company to file an application to the Securities Board of Nepal to work as a mutual fund. One year after the regulation came into force, first application for licence to run mutual fund has been registered.</div>
<div style="text-indent: 0in; text-align: justify;">
<br />
</div>
<div style="text-align: justify;">
<span style="letter-spacing: -0.25pt;">Siddhartha Bank has begun the process of establishing a mutual fund under the name Siddhartha Mutual Fund. The bank is planning to establish fund under Siddhartha Asset Management, bank's sister organisation, according to Bhola Dhungana, Office Secretary of the bank. The fund will be established with Rs 100 million paid-up capital. The company has said it will begin operation as soon as it gets approval from the SEBON. Similarly, NMB Bank has also registered an application on SEBON to operate its NMB Mutual Fund. NMB has prepared necessary requirements for operating the mutual fund. The fund will be managed and operated by sister organisation of the company, NMB Capital Limited.<br />
<br />
</span></div>
<div style="text-align: justify;">
<hr />
</div>
<div style="text-indent: 0in; text-align: center;">
<span style="font-size: 24pt; color: rgb(0, 92, 169);"><br />
Interbank Lending For Six Months</span></div>
<div style="text-indent: 0in; text-align: justify;">
<span style="font-size: 12pt; letter-spacing: -0.25pt;">B</span><span style="letter-spacing: -0.25pt;">anks and Finance Companies can issue interbank loans for up to six months. Nepal Rastra Bank (NRB) has made a special provision for interbank loans with effect from June 27. Bhaskar Mani Gyawali, Spokesperson of NRB, said, To lower the pressure of liquidity, this special provision is made.<br />
<br />
</span></div>
<div style="text-align: justify;">
Now, commercial banks, development banks and finance companies can issue loans to each other against the acceptable collateral. According to Gyawali, such lending will be for six months on the maximum. </div>
<div style="text-align: justify;">
<br />
</div>
<div style="text-align: justify;">
<hr />
</div>
<div style="text-indent: 0in; text-align: center;">
<span style="font-size: 20pt; color: rgb(0, 92, 169);"><br />
Progress in Amending Securities Transaction Act<br />
<br />
</span></div>
<div style="text-indent: 0in; text-align: justify;">
<span style="font-size: 11pt;">T</span>he Securities Board of Nepal (SEBON) has presented a proposal to the Ministry of Finance (MoF) to amend the Securities Related Act 2007. Paristha Paudyal, Director at at the Board's Regulation Department said, the amendment is to accommodate a provision to authorise the Board to regulate the commodities exchanges as well.</div>
<div style="text-indent: 0in; text-align: justify;">
<br />
</div>
<p style="text-align: justify;">
<span style="font-size: 11pt; line-height: 115%;">In this year's budget, the government had announced to arrange for regulation of the commodities exchanges. Accordingly, a committee was formed with representatives from SEBON, MoF and commodities exchanges. The proposed draft amendment is based on the recommendation of the committee, said Paudyal. Currently, there are five exchange companies in operation while five more are trying to acquire license. </span></p>',
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'title' => 'NEA Deceived On PPA Rate (july 2011)',
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'content' => '<div style="margin-bottom: 0.0001pt; text-align: justify; line-height: 11pt; vertical-align: middle;">
<span style="">T</span><span style="font-size: 9.5pt;">he private sector has accused Nepal Electricity Authority (NEA) of deceiving electricity producers on the rate of Power Purchase Agreement (PPA). NEA has increased PPA rate by 20 per cent on projects up to 25 megawatts.</span></div>
<div style="margin-bottom: 0.0001pt; text-align: justify; line-height: 11pt; vertical-align: middle;">
<br />
</div>
<div style="margin-bottom: 0.0001pt; text-align: justify; text-indent: 14.15pt; line-height: 11pt; vertical-align: middle;">
<span style="font-size: 9.5pt;">Previously, electricity producers could raise price up to nine times in PPA rate but now they can increase up to only five times. With this, the PPA increase rate said to be 20 per cent will actually be 10 per cent, said Gyanendra Lal Pradhan, a power producer, The government promised to increase PPA by 20 per cent in projects that will be completed within four years but NEA did not follow it.</span></div>
<div style="margin-bottom: 0.0001pt; text-align: justify; text-indent: 14.15pt; line-height: 11pt; vertical-align: middle;">
<br />
</div>
<div style="margin-bottom: 0.0001pt; text-align: justify; text-indent: 14.15pt; line-height: 11pt; vertical-align: middle;">
<span style="font-size: 9.5pt;">The private sector is saying that with the latest increase, internal return rate will be lower than 12 per cent. Power producers are saying that nobody will be interested to borrow from banks at 16 per cent and invest for that rate of return. Independent Power Producers Association-Nepal (IPPAN) says that for 30 years, average PPA rate should be fixed at minimum Rs 6 per unit. </span></div>
<div style="margin-bottom: 0.0001pt; text-align: justify; text-indent: 14.15pt; line-height: 11pt; vertical-align: middle;">
<br />
</div>
<div style="text-align: justify;">
<span style="font-size: 9.5pt; line-height: 115%;">Dr Subarna Das Shrestha President of IPPAN said that due to high interest rate, ongoing projects are also on the verge of being scrapped.<br />
<br />
</span></div>
<div style="text-align: justify;">
<hr />
</div>
<div style="text-indent: 0in; text-align: center;">
<span style="font-size: 24pt; color: rgb(0, 92, 169);">Bhatbhateni Supermarket in Koteshwore</span></div>
<div style="text-indent: 0in; text-align: justify;">
<span style="font-size: 14pt;">B</span>hatbhateni Supermarket and Departmental Store has opened its new outlet at Koteshwor from June 11. During the inauguration, Min Bahadur Gurung, Managing Director of Bhatbhateni, said that the new shopping centre is equipped with customer care desk, elevator and escalator for physically challenged people along with other modern amnesties.</div>
<div style="text-indent: 0in; text-align: justify;">
<br />
</div>
<div style="text-align: justify;">
He said that 200 people are getting employment in the supermarket out of which 90 per cent are women. The five–storey supermarket has been built at an investment of Rs 500 million. Gurung revealed that within this fiscal year, new supermarkets will be established at Jawalakhel and Chuchepati. He said its chain outlet in Pokhara is under construction. He also revealed that supermarkets at Bhatbhateni and Maharajgunj register an annual turnover of Rs 2 billion.<br />
</div>
<div style="text-align: justify;">
<hr />
</div>
<div style="text-indent: 0in; text-align: center;">
<span style="font-size: 22pt; color: rgb(0, 92, 169);">Electricity Development Corp within 15 Days<br />
<br />
</span></div>
<div style="text-indent: 0in; text-align: justify;">
<span style="font-size: 11pt; letter-spacing: -0.25pt;">T</span><span style="letter-spacing: -0.25pt;">he government has announced to set up Electricity Development Corporation within 15 days from June 8. Gokarna Bista, Minister of Energy, said, I will show by establishing the corporation within 15 days. He added, Committee formed for the inception of the corporation is working to complete the task within seven days.</span></div>
<div style="text-indent: 0in; text-align: justify;">
</div>
<div style="text-align: justify;">
<span style="letter-spacing: -0.25pt;">Finance Minister Bharat Mohan Adhikari said that legal consultations are going on for setting up of the corporation. He also revealed that the corporation will not be controlled by the government but will be an independent unit. World Bank, Asian Development Bank, China Exim Bank and other international entities will be invited to invest in the company. Bista said that the seed capital of the corporation will be around Rs 7 to 15 billion. The government had proposed the establishment of Electricity Development Corporation after declaring power emergency in the country some months ago.<br />
<br />
</span></div>
<div style="text-align: justify;">
<hr />
</div>
<div style="text-indent: 0in; text-align: center;">
<span style="font-size: 20px;"><span style="color: rgb(0, 92, 169);"><br />
Siddhartha and NMB to Operate Mutual Fund<br />
<br />
</span></span></div>
<div style="text-indent: 0in; text-align: justify;">
<span style="font-size: 11pt;">S</span>iddhartha Bank Limited has become the first company to file an application to the Securities Board of Nepal to work as a mutual fund. One year after the regulation came into force, first application for licence to run mutual fund has been registered.</div>
<div style="text-indent: 0in; text-align: justify;">
<br />
</div>
<div style="text-align: justify;">
<span style="letter-spacing: -0.25pt;">Siddhartha Bank has begun the process of establishing a mutual fund under the name Siddhartha Mutual Fund. The bank is planning to establish fund under Siddhartha Asset Management, bank's sister organisation, according to Bhola Dhungana, Office Secretary of the bank. The fund will be established with Rs 100 million paid-up capital. The company has said it will begin operation as soon as it gets approval from the SEBON. Similarly, NMB Bank has also registered an application on SEBON to operate its NMB Mutual Fund. NMB has prepared necessary requirements for operating the mutual fund. The fund will be managed and operated by sister organisation of the company, NMB Capital Limited.<br />
<br />
</span></div>
<div style="text-align: justify;">
<hr />
</div>
<div style="text-indent: 0in; text-align: center;">
<span style="font-size: 24pt; color: rgb(0, 92, 169);"><br />
Interbank Lending For Six Months</span></div>
<div style="text-indent: 0in; text-align: justify;">
<span style="font-size: 12pt; letter-spacing: -0.25pt;">B</span><span style="letter-spacing: -0.25pt;">anks and Finance Companies can issue interbank loans for up to six months. Nepal Rastra Bank (NRB) has made a special provision for interbank loans with effect from June 27. Bhaskar Mani Gyawali, Spokesperson of NRB, said, To lower the pressure of liquidity, this special provision is made.<br />
<br />
</span></div>
<div style="text-align: justify;">
Now, commercial banks, development banks and finance companies can issue loans to each other against the acceptable collateral. According to Gyawali, such lending will be for six months on the maximum. </div>
<div style="text-align: justify;">
<br />
</div>
<div style="text-align: justify;">
<hr />
</div>
<div style="text-indent: 0in; text-align: center;">
<span style="font-size: 20pt; color: rgb(0, 92, 169);"><br />
Progress in Amending Securities Transaction Act<br />
<br />
</span></div>
<div style="text-indent: 0in; text-align: justify;">
<span style="font-size: 11pt;">T</span>he Securities Board of Nepal (SEBON) has presented a proposal to the Ministry of Finance (MoF) to amend the Securities Related Act 2007. Paristha Paudyal, Director at at the Board's Regulation Department said, the amendment is to accommodate a provision to authorise the Board to regulate the commodities exchanges as well.</div>
<div style="text-indent: 0in; text-align: justify;">
<br />
</div>
<p style="text-align: justify;">
<span style="font-size: 11pt; line-height: 115%;">In this year's budget, the government had announced to arrange for regulation of the commodities exchanges. Accordingly, a committee was formed with representatives from SEBON, MoF and commodities exchanges. The proposed draft amendment is based on the recommendation of the committee, said Paudyal. Currently, there are five exchange companies in operation while five more are trying to acquire license. </span></p>',
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<span style="">T</span><span style="font-size: 9.5pt;">he private sector has accused Nepal Electricity Authority (NEA) of deceiving electricity producers on the rate of Power Purchase Agreement (PPA). NEA has increased PPA rate by 20 per cent on projects up to 25 megawatts.</span></div>
<div style="margin-bottom: 0.0001pt; text-align: justify; line-height: 11pt; vertical-align: middle;">
<br />
</div>
<div style="margin-bottom: 0.0001pt; text-align: justify; text-indent: 14.15pt; line-height: 11pt; vertical-align: middle;">
<span style="font-size: 9.5pt;">Previously, electricity producers could raise price up to nine times in PPA rate but now they can increase up to only five times. With this, the PPA increase rate said to be 20 per cent will actually be 10 per cent, said Gyanendra Lal Pradhan, a power producer, The government promised to increase PPA by 20 per cent in projects that will be completed within four years but NEA did not follow it.</span></div>
<div style="margin-bottom: 0.0001pt; text-align: justify; text-indent: 14.15pt; line-height: 11pt; vertical-align: middle;">
<br />
</div>
<div style="margin-bottom: 0.0001pt; text-align: justify; text-indent: 14.15pt; line-height: 11pt; vertical-align: middle;">
<span style="font-size: 9.5pt;">The private sector is saying that with the latest increase, internal return rate will be lower than 12 per cent. Power producers are saying that nobody will be interested to borrow from banks at 16 per cent and invest for that rate of return. Independent Power Producers Association-Nepal (IPPAN) says that for 30 years, average PPA rate should be fixed at minimum Rs 6 per unit. </span></div>
<div style="margin-bottom: 0.0001pt; text-align: justify; text-indent: 14.15pt; line-height: 11pt; vertical-align: middle;">
<br />
</div>
<div style="text-align: justify;">
<span style="font-size: 9.5pt; line-height: 115%;">Dr Subarna Das Shrestha President of IPPAN said that due to high interest rate, ongoing projects are also on the verge of being scrapped.<br />
<br />
</span></div>
<div style="text-align: justify;">
<hr />
</div>
<div style="text-indent: 0in; text-align: center;">
<span style="font-size: 24pt; color: rgb(0, 92, 169);">Bhatbhateni Supermarket in Koteshwore</span></div>
<div style="text-indent: 0in; text-align: justify;">
<span style="font-size: 14pt;">B</span>hatbhateni Supermarket and Departmental Store has opened its new outlet at Koteshwor from June 11. During the inauguration, Min Bahadur Gurung, Managing Director of Bhatbhateni, said that the new shopping centre is equipped with customer care desk, elevator and escalator for physically challenged people along with other modern amnesties.</div>
<div style="text-indent: 0in; text-align: justify;">
<br />
</div>
<div style="text-align: justify;">
He said that 200 people are getting employment in the supermarket out of which 90 per cent are women. The five–storey supermarket has been built at an investment of Rs 500 million. Gurung revealed that within this fiscal year, new supermarkets will be established at Jawalakhel and Chuchepati. He said its chain outlet in Pokhara is under construction. He also revealed that supermarkets at Bhatbhateni and Maharajgunj register an annual turnover of Rs 2 billion.<br />
</div>
<div style="text-align: justify;">
<hr />
</div>
<div style="text-indent: 0in; text-align: center;">
<span style="font-size: 22pt; color: rgb(0, 92, 169);">Electricity Development Corp within 15 Days<br />
<br />
</span></div>
<div style="text-indent: 0in; text-align: justify;">
<span style="font-size: 11pt; letter-spacing: -0.25pt;">T</span><span style="letter-spacing: -0.25pt;">he government has announced to set up Electricity Development Corporation within 15 days from June 8. Gokarna Bista, Minister of Energy, said, I will show by establishing the corporation within 15 days. He added, Committee formed for the inception of the corporation is working to complete the task within seven days.</span></div>
<div style="text-indent: 0in; text-align: justify;">
</div>
<div style="text-align: justify;">
<span style="letter-spacing: -0.25pt;">Finance Minister Bharat Mohan Adhikari said that legal consultations are going on for setting up of the corporation. He also revealed that the corporation will not be controlled by the government but will be an independent unit. World Bank, Asian Development Bank, China Exim Bank and other international entities will be invited to invest in the company. Bista said that the seed capital of the corporation will be around Rs 7 to 15 billion. The government had proposed the establishment of Electricity Development Corporation after declaring power emergency in the country some months ago.<br />
<br />
</span></div>
<div style="text-align: justify;">
<hr />
</div>
<div style="text-indent: 0in; text-align: center;">
<span style="font-size: 20px;"><span style="color: rgb(0, 92, 169);"><br />
Siddhartha and NMB to Operate Mutual Fund<br />
<br />
</span></span></div>
<div style="text-indent: 0in; text-align: justify;">
<span style="font-size: 11pt;">S</span>iddhartha Bank Limited has become the first company to file an application to the Securities Board of Nepal to work as a mutual fund. One year after the regulation came into force, first application for licence to run mutual fund has been registered.</div>
<div style="text-indent: 0in; text-align: justify;">
<br />
</div>
<div style="text-align: justify;">
<span style="letter-spacing: -0.25pt;">Siddhartha Bank has begun the process of establishing a mutual fund under the name Siddhartha Mutual Fund. The bank is planning to establish fund under Siddhartha Asset Management, bank's sister organisation, according to Bhola Dhungana, Office Secretary of the bank. The fund will be established with Rs 100 million paid-up capital. The company has said it will begin operation as soon as it gets approval from the SEBON. Similarly, NMB Bank has also registered an application on SEBON to operate its NMB Mutual Fund. NMB has prepared necessary requirements for operating the mutual fund. The fund will be managed and operated by sister organisation of the company, NMB Capital Limited.<br />
<br />
</span></div>
<div style="text-align: justify;">
<hr />
</div>
<div style="text-indent: 0in; text-align: center;">
<span style="font-size: 24pt; color: rgb(0, 92, 169);"><br />
Interbank Lending For Six Months</span></div>
<div style="text-indent: 0in; text-align: justify;">
<span style="font-size: 12pt; letter-spacing: -0.25pt;">B</span><span style="letter-spacing: -0.25pt;">anks and Finance Companies can issue interbank loans for up to six months. Nepal Rastra Bank (NRB) has made a special provision for interbank loans with effect from June 27. Bhaskar Mani Gyawali, Spokesperson of NRB, said, To lower the pressure of liquidity, this special provision is made.<br />
<br />
</span></div>
<div style="text-align: justify;">
Now, commercial banks, development banks and finance companies can issue loans to each other against the acceptable collateral. According to Gyawali, such lending will be for six months on the maximum. </div>
<div style="text-align: justify;">
<br />
</div>
<div style="text-align: justify;">
<hr />
</div>
<div style="text-indent: 0in; text-align: center;">
<span style="font-size: 20pt; color: rgb(0, 92, 169);"><br />
Progress in Amending Securities Transaction Act<br />
<br />
</span></div>
<div style="text-indent: 0in; text-align: justify;">
<span style="font-size: 11pt;">T</span>he Securities Board of Nepal (SEBON) has presented a proposal to the Ministry of Finance (MoF) to amend the Securities Related Act 2007. Paristha Paudyal, Director at at the Board's Regulation Department said, the amendment is to accommodate a provision to authorise the Board to regulate the commodities exchanges as well.</div>
<div style="text-indent: 0in; text-align: justify;">
<br />
</div>
<p style="text-align: justify;">
<span style="font-size: 11pt; line-height: 115%;">In this year's budget, the government had announced to arrange for regulation of the commodities exchanges. Accordingly, a committee was formed with representatives from SEBON, MoF and commodities exchanges. The proposed draft amendment is based on the recommendation of the committee, said Paudyal. Currently, there are five exchange companies in operation while five more are trying to acquire license. </span></p>',
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