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Province chiefs called on Prime Minister Pushpa Kamal Dahal at the latter’s official residence in Baluwatar on Wednesday. During the meeting, they discussed various issues including the problems the provincial chiefs office have been facing, a Baluwatar source said. The Prime Minister said that he would take an initiative to resolve the problems. According to a provision of the Constitution of Nepal, each province should have a provincial head as the representative of the federal government.  

Out of seven people including Prithvi Bahadur Shah and his brother Bijay Bikram Shah arrested in the fraud case, six have been sent to custody for further investigation. They were arrested based on the complaint filed by an American citizen. According to the Central Investigation Bureau of Nepal Police, the Kathmandu District Court on Monday ordered them to be sent to custody. CIB SP Sanjay Singh Thapa said that of the arrested ones, Binita Tamang has been released on Rs 50,000 bail.  The CIB had carried out an investigation into the case. As per the investigation report of CIB, the District Public Prosecutor's Office had filed the case at the court. Prithvi Bahadur Shah among others had established 24 companies using fake documents and coughed up more than Rs 640 million from foreign nationals through mail, social network and bank account. Majority of the cheated people are US citizens. The group had targeted the senior citizens of America as well as patients suffering from diseases like cancer and Alzheimer's. Out of 20 people connected in the case, 13 are still absconding and search for them is underway, said Thapa.

The Nepal Stock Exchange (NEPSE) gained 1.85 points to close at 1,953.06 points on Tuesday. Similarly, the sensitive index plunged by 0.17 points to close at 386. 32 points. A total of 3,318,108 unit shares of 255 companies were traded for Rs 1. 13 billion. Meanwhile, Unique Nepal Laghubitta Bittiya Sanstha Limited was the top gainer today, with its price surging by 10. 00 percent. NIC Asia Balanced Fund was the top loser as its price fell by 5.64 percent. At the end of the day, total market capitalization stood at Rs 2. 82 trillion.

After failing to supply fertilizers on time, the government has cut down the subsidies, making chemical fertilizers costlier for farmers. The government has reduced the overall subsidies on chemical fertilizers by 11.78 percentage points. By slashing the subsidy, the government has decided to increase the market price of chemical fertilizers. The Ministry of Agriculture and Livestock Development (MoALD) on Monday increased the prices of Urea, DAP, and Potash fertilizers. The price of Urea has been increased by about 78 percent while that of DAP and Potash by 16 and 29 percent, respectively. The meeting of the Fertilizer Supply and Distribution Management Committee on March 13 increased the sales price of Urea at the import point to Rs 25 per kg from earlier Rs 14 per kg. Similarly, the price of DAP has been increased to Rs 50 per kg from earlier Rs 43. The price of Potash has been increased to Rs 40 per kg from Rs 31. Among the chemical fertilizers imported into Nepal, the share of Urea is 56 percent while that of DAP and Potash is 42 percent and 2 percent, respectively. Earlier, the government used to provide an 80 percent subsidy on Urea fertilizer which has now been reduced to 64.5 percent. Similarly, the subsidy on DAP has been reduced to 52.4 percent from 59 percent earlier. And, subsidy on Potash has been reduced to 46 percent from 58 percent. Earlier, the government was subsidizing 70.82 percent on the import of chemical fertilizers earlier, which has now been reduced to 59.04 percent. MoALD has said that fertilizer subsidies will also be reduced further gradually. As the ministry plans to limit the subsidies to 50 percent, the price of fertilizers will further increase in the future. According to the ministry, the fertilizer price has been adjusted due to the rising price of chemical fertilizers in the international market and the decline in the exchange rate of Nepali currency with the US Dollar. "Nepal has to spend a lot of budget on subsidy amounts due to ever-increasing purchasing costs and low sales prices," said the ministry in a press statement. The government had allocated Rs 15bn for the import of chemical fertilizers in the current fiscal federal budget. Since the amount was insufficient, the MoALD said that an additional Rs 23.5bn has been managed to ensure the fertilizer imports. According to the ministry, the annual demand for chemical fertilizer in the country is 520,000 tons. However, the government has been failing to supply fertilizers as per the demand. According to the ministry, there is an agreement to import 333,500 tons of chemical fertilizers for the current financial year. So far 237,500 tons have been imported and the remaining 94,000 tons are under process. Despite this, there will be a shortage of 90,000 tons for the paddy plantation season.

I’m a 27-year-old woman who has been struggling with OCD for years and it has taken a toll on my mental health. My compulsions can range from rechecking things to repeating certain actions. That has made it difficult for me to maintain good relationships with people or excel at my job. I often feel like I’m trapped in my own mind and unable to control my thoughts and behaviors. Please help me!–S.S Answered by Tashi Gurung, counseling psychologist, Happy Minds I’m sorry to hear that you’ve been struggling with OCD. It’s understandable that it’s difficult for you to cope with it. OCD is a mental health condition that can cause unwanted, obsessive thoughts and repetitive, compulsive behaviors. These behaviors can interfere with your daily life and can be distressing. Understand that OCD isn’t a personal weakness or a choice. Know that it’s a treatable condition and, with the right support, you can learn to manage your symptoms and improve your quality of life. There are different types of OCD, and your compulsions may vary from checking things repeatedly, counting, or repeating certain actions. It’s essential to understand that these behaviors aren’t under your control, and they are not a reflection of your personality. It doesn’t define who you are as a person. It's necessary to approach OCD with compassion and understanding, both for yourself as well as for others who might be struggling with the condition. Open communication with your partner or loved ones can be helpful for them to understand what you are going through and how they can support you. It might also be beneficial to educate them about OCD and how it affects you. If OCD is affecting your job, talk to your employer or HR representative about your condition and how it’s impacting your work. You might be able to request accommodations or adjustments to your work environment or schedule to help manage your symptoms. If you have OCD, it’s crucial to seek professional help. A mental health professional can help you develop coping strategies and manage your symptoms. They may recommend therapy, medication, or a combination of both. In addition to seeking professional help, there are things you can do to manage OCD symptoms. Practice self-care, get enough sleep, eat a healthy diet, and engage in regular physical activity. Relaxation techniques such as meditation or deep breathing exercises might also be helpful. Remember that managing OCD is a journey, and there might be setbacks along the way. It’s okay to ask for help and support from loved ones. It’s also important to be patient and compassionate with yourself as you work towards managing your symptoms. With proper treatment and support, you can overcome OCD and lead a good life.

Premier Li Qiang said on Monday he has full confidence in China's economic prospects, as he took questions from the media after the conclusion of the first session of the 14th National People's Congress, China's top legislature, China Daily reported. Responding to how to achieve an annual economic growth target of around 5 percent in 2023, Li said the country will introduce a number of policy combinations in terms of macro policies, measures for expanding demand, policies for advancing reform and innovation and policies for preventing and defusing risks. He said the global economic prospect is not optimistic this year with many factors of instability and uncertainty as well as unpredictable factors. China also faces quite a number of new challenges to achieve the around 5 percent growth target on a high base in the previous year, which is not an easy task and requires redoubled efforts, according to Li. When it comes to the drivers and drags on the Chinese economy, Li said China's economic development is supported by quite a number of favorable conditions, including an ultra-large market, a well-functioning industrial system, a rich supply of human resources, a strong development foundation and notable institutional strength, according to China Daily. Citing China's economic performance in the first two months of 2023, Li said the Chinese economy is stabilizing and picking up, and some international organizations have also upgraded their forecasts for China's growth prospects this year. Despite the challenges ahead, Li said he has full confidence in China's growth prospects in 2023.

Kathmandu: In consonance with the ‘Neighborhood First Policy’ there has been a continued momentum in bilateral ties with Nepal, India said in a report. An annual report prepared by the Ministry of External Affairs states that there has been substantial progress in greater connectivity—be it physical, economic, energy, digital, cultural, or focusing on infrastructure development and capacity-building. Since May 2014, there have been 15 exchanges at the head of the state/government level between the two countries. During this period, Indian Prime Minister Narendra Modi visited Nepal five times, while prime ministers of Nepal visited India eight times since Modi came to power. According to the report, in 2022, there were two back-to-back prime ministerial visits, with then Nepal PM Sher Bahadur Deuba visiting India in April 2022, and the Indian PM visiting Nepal in May 2022. One of the achievements of 2022 is the issuance of a joint vision statement on power sector cooperation. According to the report, there has been intense defense cooperation between the two countries. The report also highlights what it calls ‘further momentum’ in the power sector with Nepal. Nepal has become power surplus and started exporting power to India, the report states, adding that India has given Nepal the consent to export more than 400 MW to India. Nepal exported more than Rs 600 crores (Rs 6bn) worth of power to India this wet season. With this, electricity has become one of Nepal’s largest exports to India, the report says. Nepal is India’s 11th largest export destination, up from 28th position in 2014. In 2021-22, Nepal constituted 2.34 percent of India’s exports. The bilateral framework for trade is anchored on India-Nepal Treaty of Trade and Agreement of cooperation to control unauthorized trade, revised in 2009, both treaties were automatically renewed for a further period of seven years in October 2016. Nepal’s main imports from India are petroleum products, iron and steel, cereals, vehicles and parts, and machinery parts. Nepal’s major items of exports include soybean oil, spices, jute fiber and products, synthetic yarn, and tea.

Amid the news of three banks in the United States collapsing in the last one week, the Nepal Rastra Bank (NRB) on Sunday called Lender of Last Resort Policy 2023. The NRB has issued a Lender of Last Resort Policy whereby banks and financial institutions (BFIs) can take such a facility from the central bank paying an additional two percent penal rate to the prevailing bank rate. According to NRB Executive Director Prakash Kumar Shrestha, the policy has been amended to amend the regulation which was introduced in 2011. "The issuance of the policy has nothing to do with the collapse of the US banks," said Shrestha, "It's just a coincidence. The NRB board had already endorsed the policy in the last week of February." A lender of last resort facility is a financial instrument used by BFIs in case of extreme liquidity crisis when they are unable to return the deposits of the general public. Till now, only the then Vibor Development Bank has used it. The NRB, acting as a lender of last resort, extended a short-term loan of Rs 500m to the troubled Vibor Development Bank in 2011 and rescued it from an acute liquidity crunch under the Lender of Last Resort Policy 2011. The central bank provides the lender of last resort facility to BFIs, especially when they face a severe shortage of investment-grade liquidity. Earlier, the central bank used to provide such a facility at the prevailing bank rate. Now, NRB has said that a two percent penal rate will be added to the prevailing rate while providing a lender of last resort facility. According to the NRB, if BFIs are unable to manage the necessary liquidity through the interbank market, daily liquidity facilities, open market transactions, and standing liquidity facility (SLF), they can get such a facility from the central bank. The facility will be provided even if the BFIs are unable to meet their immediate obligations due to a lack of marketable assets. Similarly, even if the BFIs are unable to make payment of a large amount in deposits, they can ask the central bank for such a facility. Similarly, the NRB policy talks of providing this facility to BFIs if the economy and financial system face challenges due to systemic risk posed by a single bank, or if there is a decline in the trust of the general public towards the banking system, or if a bank is unable to pay immediate obligations due to natural disasters, and if it is unable to fulfill its immediate obligations due to national and international crisis and the bank is liquidated. Getting the lender of a last resort facility is not easy. The board of the problematic bank must submit an application to the central bank with reasons for seeking a lender of last resort as well as an action plan to revive the bank. The central bank will provide the facility only after it finds the bank can operate smoothly in the long run. Along with the application, a 6-month cash flow projection, statement of assets and liabilities of different periods, statement of deposits and other short-term liabilities, and an action plan for revival should also be submitted.