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margin: 0px 10px 0px 0px; width: 80px; height: 97px;" />“This budget will be fully accepted by the coming government.”</strong></span></div> <div> <strong>Shanker Prasad Koirala,</strong> Minister of Finance, Industry and Commerce and Supplies, assuring that the current fiscal budget will be happily accepted by the new government to be formed after elections. </div> <div> </div> <div> </div> <div> </div> <div> <span style="font-size: 16px;"><strong><img alt="" src="/userfiles/images/up%20(Copy).jpg" style="float: left; margin: 0px 10px 0px 0px; width: 80px; height: 97px;" />“The Constituent Assembly’s second episode is supposed to trigger economic development.”</strong></span></div> <div> <strong>Upendra Poudyal,</strong> Vice President, of Nepal Bankers’ Association expressing hope that the election would bring in political stability and encourage economic development.</div> <div> </div> <div> </div> <div> </div> <div> <span style="font-size: 16px;"><strong><img alt="" src="/userfiles/images/yk%20(Copy).jpg" style="float: left; margin: 0px 10px 0px 0px; width: 80px; height: 97px;" />“Along with implementation of monetary policy, central banks’ roles have extended to stabilising the financial sector and contributing to the national economic development.”</strong></span></div> <div> <strong>Dr Yubaraj Khatiwada,</strong> Governor of Nepal Rastra Bank mentioning that roles of central banks around the world have increased in the post global economic crisis era.</div> <div> </div> <div> </div> <div> <strong style="font-size: 16px;"><img alt="" src="/userfiles/images/sv%20(Copy)(1).jpg" style="float: left; margin: 0px 10px 0px 0px; width: 80px; height: 97px;" /></strong></div> <div> <span style="font-size: 16px;"><strong>“The private sector will defy strikes.”</strong></span></div> <div> <strong>Suraj Vaidya</strong>, President of Federation of Nepalese Chambers of Commerce and Industry (FNCCI) stating that the private sector will defy any strikes organised by political parties.</div> <div> </div> <div> </div> <div> </div> <div> </div> <div> <span style="font-size: 16px;"><strong><img alt="" src="/userfiles/images/abp%20(Copy).jpg" style="float: left; margin: 0px 10px 0px 0px; width: 80px; height: 97px;" />“Think prosperity, think welfare and shun strikes.”</strong></span></div> <div> <strong>Ajay Bahadur Pradhanang,</strong> President of Nepal Young Entrepreneur’s Forum (NYEF), suggesting political parties to shun politics and prioritise national priorities and common welfare.</div>', 'published' => true, 'created' => '2014-01-26', 'modified' => '2014-01-27', 'keywords' => 'new business age voices news & articles, voices news & articles from new business age nepal, voices headlines from nepal, current and latest voices news from nepal, economic news from nepal, nepali voices economic news and events, ongoing voices news of nepal', 'description' => '“The Constituent Assembly’s second episode is supposed to trigger economic development.”', 'sortorder' => '2346', 'image' => null, 'article_date' => '0000-00-00 00:00:00', 'homepage' => false, 'breaking_news' => false, 'main_news' => false, 'in_scroller' => false, 'user_id' => '0' ) ), (int) 1 => array( 'Article' => array( 'id' => '2477', 'article_category_id' => '202', 'title' => 'A Voracious Reader', 'sub_title' => '', 'summary' => null, 'content' => '<div> </div> <div> <strong>--By TC Correspondent</strong></div> <div> </div> <div> Krishna Gyawali, Secretary at the Ministry of Industries (MoI), is a person who lives life in a simple manner. He describes himself as a positive person and loves to be viewed as a person with a clean-image. He follows Mahamta Gandhi’s philosophy of ‘Simple Living, High Thinking’ and tries to translate it in his lifestyle. Life, according to him, has to be taken easily and no one should be over-ambitious. “A person who is over-ambitious often fails to enjoy the simplicity of life,” says Gyawali. He further adds, “Accepting the people and situation as they are, makes life beautiful.”</div> <div> </div> <div> Gyawali loves to walk and often goes for hiking. He is a nature-lover and loves peaceful places. He is equally fascinated by cinemas and takes reading as his utmost hobby. He loves to spend his leisure time discussing political and social issues with like-minded people. He equally loves to listen to music and regards sleeping to be his favourite time-pass. However, he holds a strong dislike towards playing cards.</div> <div> </div> <div> Gyawali is a voracious reader. He is a fiction lover and believes that fiction has the power to take the reader to a different world. Likewise, he also reads philosophical books and biographies. He loves the work of Shankar Lamichhane and Bhupi Sherchan. But since his childhood, he has never liked Maths and Science. Gyawali’s favourite book is ‘Nepal’s Failed Development’ by Devendra Raj Pandey. Currently he is reading ‘India And Its Contradictions’ by Amatya Sen and Jean Drèze.</div> <div> </div> <div> Gyawali is a balanced person. He finds no difficulty in managing his professional and family life. He believes that the only way to balance these two is to take them together. “Taking work as fun is the way to find peace even while working,” he says. He suggests everyone to have positive attitude towards work to enjoy professional life. </div> <div> </div> <div> Though Gyawali wishes he had some more free time for himself and his family, and though he wishes for two day weekend holidays, he believes that public holidays are way too much in number and should be decreased. </div> <div> </div> <div> Gyawali loves visiting new places. He has been to many places in Nepal and describes Nepal as a place blessed by nature.He recalls visiting beautiful places like- Mustang, Pokhara, Chitwan, Swargadwari etc with his family members. Besides that he has also been to Pakistan and India and remembers these places to be also very beautiful. Gyawali recalls Disney land of Paris to be one of the most fascinating holiday destinations. </div> <div> </div> <div> Gyawali aspires to write two books in his lifetime. He wants to write a novel that reflects the reality of society. He also wants to give it a personal touch by adding elements of his life. Likewise, he wants to write a book that focuses on Nepal’s poverty and prosperity and wants to link it with Nepal’s development. Gyawali considers B.P Koirala, Nelson Mandela and his father to be his inspirational figures.</div> <div> </div> <div> Gyawali believes in Rajnish’s saying of being happy with what you have. His motto in life is to be happy and see everyone around him happy. He encourages everyone to be dutiful towards the nation and asks them to be service-oriented.</div>', 'published' => true, 'created' => '2014-01-20', 'modified' => '2014-01-27', 'keywords' => 'the corporate weekly from Nepal, nepali corporate events – news – interviews – reviews, nepali corporate focus, nepali corporate status and news, news from nepali corporate industry, corporate happenings – events – news from nepal', 'description' => 'Krishna Gyawali, Secretary at the Ministry of Industries (MoI), is a person who lives life in a simple manner. He describes himself as a positive person and loves to be viewed as a person with a clean-image. He follows Mahamta Gandhi’s philosophy of ‘Simple Living, High Thinking’ and tries to translate it in his lifestyle. Life, according to him, has to be taken easily and no one should be over-ambitious. “A person who is over-ambitious often fails to enjoy the simplicity of life,” says Gyawali. He further adds, “Accepting the people and situation as they are, makes life beautiful.”', 'sortorder' => '2345', 'image' => null, 'article_date' => '0000-00-00 00:00:00', 'homepage' => false, 'breaking_news' => false, 'main_news' => false, 'in_scroller' => false, 'user_id' => '0' ) ), (int) 2 => array( 'Article' => array( 'id' => '2502', 'article_category_id' => '91', 'title' => 'NSBM Takes Initiative For Int’l Quality Certification Of Domestic Goods And Services', 'sub_title' => '', 'summary' => null, 'content' => '<div> <strong>--By TC Correspondent </strong></div> <div> </div> <div> Nepal has taken initiative to start the international quality certification of the goods and services produced in the country. Along with the preparation to establish the National Accreditation Focal Point (NAFP), the Nepal Bureau of Standards and Metrology (NSBM) has taken the initiative to start the international quality certification within the nation itself, says, Romi Manandhar , Deputy Director General at the Bureau. Currently different organizations are taking their own initiative for certification.</div> <div> </div> <div> The Bureau is planning to establish NAFP in collaboration with India’s National Accreditation Board for Certification Bodies (NABCB). According to Manandhar, an agreement to this effect was signed between the NSBM and NABCB on last Wednesday (January 22). She also informed The Corporate that NAFP would request NABCB for quality certification. “As there is no separate body for [international] quality certification at the Bureau, we have signed an agreement with NABCB,” she added.</div> <div> </div> <div> The establishment of NAFP will help reduce the international quality certification cost of Nepali goods and services and will ease the entire process of quality certification, according to Manandhar. The NSBM is preparing to make a two-year work plan for NAFP. However, it’s going to take a few months before the NAFP starts working for international quality certification. </div> <div> </div> <div> For the time being, the office of NAFP will be located on the NSBM premises.</div>', 'published' => true, 'created' => '2014-01-26', 'modified' => '2014-01-26', 'keywords' => 'the corporate weekly from Nepal, nepali corporate events – news – interviews – reviews, nepali corporate focus, nepali corporate status and news, news from nepali corporate industry, corporate happenings – events – news from nepal', 'description' => 'Nepal has taken initiative to start the international quality certification of the goods and services produced in the country. Along with the preparation to establish the National Accreditation Focal Point (NAFP), the Nepal Bureau of Standards and Metrology (NSBM) has taken the initiative to start the international quality certification within the nation itself, says, Romi Manandhar , Deputy Director General at the Bureau. Currently different organizations are taking their own initiative for certification.', 'sortorder' => '2344', 'image' => null, 'article_date' => '0000-00-00 00:00:00', 'homepage' => false, 'breaking_news' => false, 'main_news' => false, 'in_scroller' => false, 'user_id' => '0' ) ), (int) 3 => array( 'Article' => array( 'id' => '2496', 'article_category_id' => '37', 'title' => 'Nepal’s Macroeconomic Challenges In 2014', 'sub_title' => '', 'summary' => null, 'content' => '<div> </div> <div> </div> <div> <strong>--Dr Rewat Bahadur Karki</strong></div> <div> </div> <div> After the second democratic movement in FY 2007/08, Nepali economy recorded rosy picture including higher GDP growth of 5.8 percent. However, after the constituent assembly (CA) election in 2009 macroeconomic situation went on declining with low growth mainly due to uncertainty of economic policy and deteriorating investment environment. But pre-last year -2011/12 was exceptional i.e. better along with moderate growth of 4.5 percent, the highest in the last five years primarily because of windfall (exogenous) gain caused by weather and remittance, while last year (2012/13)’s performance is poor with the lowest growth 3.5 percent according to the estimates of Central Bureau of Statistics (CBS), and double digit inflation. </div> <div> </div> <div> Analyzing last year’s situation in brief, efforts have been made to estimate and analyze this fiscal year’ macroeconomic scenario mainly comprising of real sector and price, monetary, fiscal and external sectors based on realistic approach. In FY 2013/14, following six strong bases/assumptions indicate rosy macro economic situation.</div> <div> </div> <div> 1. <span class="Apple-tab-span" style="white-space: pre;"> </span>The current non political government has announced next three year plan (starting from this FY-2013/14) with a growth of 6 percent by fixing the target of upgrading Nepal to developing country from low income country within 10 years as against the UN target of 18 years. The government has announced an ambitious budget in this line too.</div> <div> </div> <div> 2. <span class="Apple-tab-span" style="white-space: pre;"> </span>The government has made its efforts to present the pro-productive and investment-friendly budget instead of loading it populist programmes.</div> <div> </div> <div> 3. <span class="Apple-tab-span" style="white-space: pre;"> </span>The full budget, despite being an election budget, which has come without any disturbance since the first CA election in 2008 AD, has exerted some positive impact in the economy</div> <div> </div> <div> 4. <span class="Apple-tab-span" style="white-space: pre;"> </span>There will be positive impacts in the Nepali economy from the slight improvement (from 3 percent to 3.2 percent in 2013) in world economy and also in neighbouring countries –India and China as forecast by IMF.</div> <div> </div> <div> 5. <span class="Apple-tab-span" style="white-space: pre;"> </span>The last budget as brought by this non-party government in early 2013 gave a clear-cut direction regarding adoption of liberal economic policy and important role of private sector in the economy and thus, has exerted a positive impact.</div> <div> </div> <div> 6. <span class="Apple-tab-span" style="white-space: pre;"> </span>Weather so far is favourable, which will have a positive impact on the economy.</div> <div> </div> <div> Nonetheless, there are following weak bases or assumptions, which will make the economic scenario weak.</div> <div> </div> <div> 1. <span class="Apple-tab-span" style="white-space: pre;"> </span>Although the election government brought an ambitious election budget it will have minimum impact on economic growth and will instead accelerate inflation</div> <div> </div> <div> 2. <span class="Apple-tab-span" style="white-space: pre;"> </span>IMF has forecast that Nepal’s macroeconomic situation would not improve significantly for the coming five years.</div> <div> </div> <div> 3. <span class="Apple-tab-span" style="white-space: pre;"> </span>Since the first CA election, highest growth of 4.5 percent was recorded last year whereas average growth of last three-year plan is less than four percent as against 5.5 per annual average target. </div> <div> </div> <div> 4. <span class="Apple-tab-span" style="white-space: pre;"> </span>Absorptive capacity for capital expenditure is very poor in Nepal.</div> <div> </div> <div> 5. <span class="Apple-tab-span" style="white-space: pre;"> </span>Unfavourable investment climate due to some extremist political parties and their affiliate organizations (which are against investment), and acute problems relating to load shedding, rigid labour laws, infrastructures etc.</div> <div> </div> <div> 6. <span class="Apple-tab-span" style="white-space: pre;"> </span>Results of the second CA election, held peacefully in Marga 2070, has brought in Nepali Congress, credited for introducing liberal economic policy in the 90s, as the largest party. This is expected to bring a positive effect on the economy.</div> <div> </div> <div> Based on the above mentioned strong and weak aspect for the estimate, a midway analysis/estimate, which gives the realistic picture, has been made in this article. During 2013/14, some macroeconomic indicators will remain better than that of last year. GDP is estimated to increase from 4.5 percent to a maximum of 5 percent as agricultural sector, the mainstay of the economy, is estimated to grow 3-3.5 percent due to favourable weather condition. Situation of summer crops, mainly paddy and maize, seems better this year. Production of paddy is estimated to have increased by more than 10 percent, compared to the sharp decline of 14 percent, last year. </div> <div> </div> <div> With regard to non agricultural sector, it will record around 5.5 percent growth, higher than last year’s 5 percent. The manufacturing sector will move up from 1.6 percent to 3 percent as investment climate is expected to improve slightly despite election year. Similarly, trade sector’s growth will shoot up due to the sharp import growth, while other sub-sectors of this sector will remain normal. This growth is supported by high ratio of fixed investment (fixed capital formation) to GDP, which is estimated to rise to 24 percent due to higher capital expenditure as a result of full-fledged budget presented by this non-party government.</div> <div> </div> <div> <img alt="Economy and Policy" src="/userfiles/images/ep2%20(Copy)(1).jpg" style="width: 550px; height: 321px; margin-left: 10px; margin-right: 10px;" /></div> <div> </div> <div> The inflation, which rose almost by two digit i.e. 9.9 percent last year and has increased at the rate of 10percent during the first four months of this fiscal year (2013/14), is estimated go up annually to 12 percent, which will be very close to the level reached in 2008/09 (13 percent). Being an election year, current expenditure has shot up with remarkable rise in election budget along with sharp rise in private and informal expenditure. The sharp rise in salary (18 percent) and provision of Rs. 1000allowance to the government employees, coupled with sharp appreciation of the American Dollar against Rupee, will lead to high inflationary pressure. Despite higher estimated GDP growth this year, higher money supply caused by above factors will lead to high inflation of 12 percent this fiscal year. Containing the inflationary pressure this year is a big challenge to the authorities. </div> <div> </div> <div> In terms of government finance, the non-political government has been able to bring the budget on track despite late in the third quarter of last fiscal year-2012/13. Last year, total revised budget was around Rs.370 billion but due to substantial election expenditure as well as full-fledged budget, this year’s total budget estimate is Rs. 517 billion. Government estimates forecast capital expenditure to rise from around Rs. 55 billion level to Rs. 85 billion this year, while Rs. 78.7 billion has been set aside for financial provision. </div> <div> </div> <div> Although government has given priority to enhance capital expenditure, such expenditure is just 9 percent of the budgeted total capital expenditure in the first five months of this fiscal year (2013/14), while regular expenditure is almost 30 percent in this period. This trend shows that though the capital expenditure will be far below the target, the regular expenditure can cross the target. With the sharp rise in import, the import-based total revenue is estimated to rise by more than 20 percent this year. Thus, in the fiscal sector, increasing the capital expenditure and containing the regular expenditure will remain, as usual, the major challenge for the government. </div> <div> </div> <div> The election will have an expansionary effect on monetary sector. Both money supply (M1 and M2) will rise sharply than last year. Private sector’s credit growth level would be higher this year than the last year. Similarly, full budget will push the deposit growth and the broad money liquidity (M3). The financial sector has been facing instability, as more than a dozen of BFIs have been declared problematic and some even dissolved. Thus, stabilising and making this sector strong by strengthening the supervisory capacity of the central bank and by enhancing good governance in both the BFIs and the regulator, is a major challenge. </div> <div> </div> <div> The depressed share market has improved especially after the CA election’s result positioned Nepali Congress, known for its liberal economic policies, as the lead party in the CA. The share market on the whole will record bullish trend this year compared to last year. </div> <div> </div> <div> External sector in 2013/14 is estimated to register a weak scenario instead of registering any structural improvements. Rise in demand for consumer as well as capital goods, triggered by full-fledged budget and the election expenses, is likely to increase money supply as well as imports. As a result, imports will register sharp growth of 30 percent, and reach about one third of the GDP. Export is estimated to rise by 10-12 percent higher than the last year due to the sharp appreciation of US Dollar and the expected reforms in the export incentive. Due to high import and low export, export-import ratio will go down from current 14 percent to 11 percent, and the trade deficit to one-third of the GDP next year. Consequently, the steady rise in trade deficit will continue. High import growth will make large current account deficit this year. However, increased remittance, which is due to sharp Dollar appreciation, will ultimately lead to BOP surplus in 2013/14 but not in a significant manner. Thus strengthening the external sector, by decelerating the trade deficit through import management and export enhancement, will remain a major challenge. </div> <div> </div> <div> <img alt="Economy and Policy" src="/userfiles/images/ep3%20(Copy)(1).jpg" style="width: 550px; height: 413px; margin-left: 10px; margin-right: 10px;" /></div> <div> </div> <div> Considering the overall macroeconomic scenario and challenges, the new government, which is expected to form soon, should concentrate on economic agenda and in addressing major issues and challenges that Nepal’s economyis confronting. The elected government first of all has to pursuade all major political parties to form common economic agenda, and in setting future direction for the economy. Along with that the government should take initiatives to reform policies for addressing immediate economic concerns. In this regard, priority should be given to creating conducive environment for investment, reducing poverty, unemployment and bad governance. Along with that the government should provide special incentive to exports, energy and agriculture sector. It should focus on capacity enhancement of capital expenditure, containing double-digit inflation and decelerating trade deficit along with strengthening banking system. Nonetheless, along with the government, the private sector and other sections of societies should make collective efforts to strengthen the national economy.</div> <div> </div> <div> <em>(Writer is Expert Member at Securities Board of Nepal.)</em></div>', 'published' => true, 'created' => '2014-01-24', 'modified' => '2014-01-26', 'keywords' => 'new business age economy & policy news & articles, economy & policy news & articles from new business age nepal, economy & policy headlines from nepal, current and latest economy & policy news from nepal, economic news from nepal, nepali economy & policy economic news and events, ongoing economy', 'description' => 'After the second democratic movement in FY 2007/08, Nepali economy recorded rosy picture including higher GDP growth of 5.8 percent. However, after the constituent assembly (CA) election in 2009 macroeconomic situation went on declining with low growth mainly due to uncertainty of economic policy and deteriorating investment environment. But pre-last year -2011/12 was exceptional i.e. better along with moderate growth of 4.5 percent, the highest in the last five years primarily because of windfall (exogenous) gain caused by weather and remittance, while last year (2012/13)’s performance is poor with the lowest growth 3.5 percent according to the estimates of Central Bureau of Statistics (CBS), and double digit inflation.', 'sortorder' => '2343', 'image' => null, 'article_date' => '0000-00-00 00:00:00', 'homepage' => false, 'breaking_news' => false, 'main_news' => false, 'in_scroller' => false, 'user_id' => '0' ) ), (int) 4 => array( 'Article' => array( 'id' => '2449', 'article_category_id' => '91', 'title' => 'World Bank Forecasts 3.8 % Economic Growth Challenges Ahead', 'sub_title' => '', 'summary' => null, 'content' => '<div> </div> <div> <strong>--By TC Correspondent </strong></div> <div> </div> <div> The country will not regain strength in economic growth in 2014 despite a successful second Constituent Assembly (CA) election. </div> <div> </div> <div> The World Bank has estimated Nepal’s economic growth to be not more than 3.8 per cent in 2014, a marginal improvement compared to the 3.6 per cent growth rate in 2013. </div> <div> </div> <div> The data of Global Economic Prospectus 2014 report released by the World Bank clearly showed that the country has still a long way to go to achieve the growth target set by the government. According to the latest monetary policy, the government aims to achieve 5.5 per cent economic growth in 2014. </div> <div> </div> <div> <img alt="" src="/userfiles/images/twb%20(Copy).jpg" style="float: left; margin: 0px 10px 0px 0px; width: 200px; height: 95px;" />The growth forecast by the bank is a blow to the government’s plan of achieving 7 per cent economic growth. The forecast also showed that the government’s plan of improving its status as the developing country from existing Least Developed Country (LDC) is an ambitious plan which is hard to achieve any time soon as the World Bank has projected 4.4 per cent growth rate for 2015 and 5.2 for 2016.</div> <div> </div> <div> Experts, however, say that the country can do better than World Bank’s forecast if it aims at mobilizing more investment from the private sector. </div> <div> </div> <div> World Bank’s projection is based on the data of October 2013, said former finance secretary Rameshore Khanal. “The economic situation was better in December as the agriculture sector witnessed improvement including the production of crops.”</div> <div> </div> <div> We can say the World Bank’s data has underestimated the country’s economic situation to some extent, he claimed. “The country can achieve around 4.5 per cent economic growth in 2014.”</div> <div> </div> <div> We must focus on our major sectors such as agriculture, tourism, water resource if we are to attain speedy economic growth, said economist Dr Chiranjibi Nepal. </div> <div> </div> <div> Slower government expenditure – especially capital expenditure – despite timely monsoon that might boost agriculture growth, is still a big challenge for the country, he opined. “It is expected that the new government will bring policy to accelerate capital expenditure.”</div> <div> </div> <div> Taking the private sector into confidence is the only way out to propel economic growth while policy stability and endorsement of essential laws is a must to boost the private sector’s confidence, according to Khanal. </div> <div> </div> <div> The banking sector is still reluctant to invest in hydro projects and other big projects, he said. The government should identify the problems of banks and foster an environment where all banks can invest in big projects which will help boost economic activities.</div> <div> </div> <div> <img alt="" src="/userfiles/images/mn1%20(Copy).jpg" style="width: 550px; height: 397px; margin-left: 10px; margin-right: 10px;" /></div>', 'published' => true, 'created' => '2014-01-19', 'modified' => '2014-01-26', 'keywords' => 'the corporate weekly from Nepal, nepali corporate events – news – interviews – reviews, nepali corporate focus, nepali corporate status and news, news from nepali corporate industry, corporate happenings – events – news from nepal', 'description' => 'The country will not regain strength in economic growth in 2014 despite a successful second Constituent Assembly (CA) election. The World Bank has estimated Nepal’s economic growth to be not more than 3.8 per cent in 2014, a marginal improvement compared to the 3.6 per cent growth rate in 2013.', 'sortorder' => '2342', 'image' => null, 'article_date' => '0000-00-00 00:00:00', 'homepage' => false, 'breaking_news' => false, 'main_news' => false, 'in_scroller' => false, 'user_id' => '0' ) ), (int) 5 => array( 'Article' => array( 'id' => '2497', 'article_category_id' => '39', 'title' => 'Lomus : Looking Beyond Borders', 'sub_title' => '', 'summary' => null, 'content' => '<div> </div> <div> </div> <div> <strong>--By Gaurav Aryal</strong></div> <div> </div> <div> If the Nepali government allows Nepali ventures to invest in foreign land, Lomus Pharmaceuticals and the group of companies would be one of the top industrial houses to rejoice. Prabal Jung Pandey, Executive Director of the group says that he would be happy when his group would go beyond borders. He wishes to take Lomus Pharmaceuticals Pvt Ltd, the group’s flagship company and one of the leading pharmaceutical companies of Nepal, beyond borders.</div> <div> </div> <div> As a move towards this goal, the company is determined to increase the volume of its pharmaceutical products export to existing markets along with exploring new territories. According to Pandey, the company is exporting its products to four countries in Africa. “We will be exporting to Commonwealth of Independent States (CIS) countries soon. Necessary registration procedures have been completed and we are looking forward to exporting in large quantities,” he shared. </div> <div> </div> <div> Pandey thinks that once the company starts mass export of products, of the current production plants capacities would not be enough. He opines that establishing plants in other countries would be helpful to supply products to meet the demand. However, existing laws restrict Nepali companies from investing in foreign land. “The government should now think that the capable industries in Nepal should be allowed to invest in other countries. If someone is capable of investing abroad, and if s/he is working here successfully and if the profits come back to the country, there is no harm in allowing someone to invest abroad,” Pandey said arguing against the government’s restriction that is hindering the company’s expansion plan. </div> <div> </div> <div> He says that Lomus Pharmaceuticals has reached almost a saturation point in the Nepali market and with very little room for expansion. He further claims that the company leads Nepal’s pharmaceutical market with four per cent of the market share. </div> <div> </div> <table align="left" style="margin: 0px 10px 0px 0px;" width="25"> <tbody> <tr> <td> <img alt="Prabal Jung Pandey, Executive Director, Lomus Group" src="/userfiles/images/cf1%20(Copy)(3).jpg" style="border-width: 0px; border-style: solid; width: 200px; height: 238px;" /></td> </tr> <tr> <td bgcolor="#FFFFFF"> <div align="center"> <div> <strong>Prabal Jung Pandey</strong></div> <div> Executive Director</div> <div> Lomus Group</div> </div> </td> </tr> </tbody> </table> <div> <span style="font-size: 14px;"><strong>Group’s Inception</strong></span></div> <div> Lomus Pharmaceuticals is the first manufacturing venture of the group, started by Pradeep Jung Pandey, Vice President of Federation of Nepalese Chambers of Commerce and Industry (FNCCI) and father of Prabal Jung Pandey. Pandey gives credit to his father for establishing the company and taking it to the pinnacle. </div> <div> </div> <div> The company was established with its first factory at Gongabu in Kathmandu, 25 years ago. In its initial days, it used to produce around 40 pharmaceutical products. And, the group kept on taking gradual and careful steps for its expansion and growth. With a special focus on expanding the market, it kept on increasing the production capacity. A decade ago, a big move was made to establish a 15000 square feet production plant at Gothatar, one of the largest pharmaceuticals production units of the country.</div> <div> </div> <div> Pandeys always have had the belief that one should not be investing in a new venture unless the existing one is sustainable. “We do not believe in jumping into many ventures at once. We try to stabilise the existing one and keep it expanding so that it is self sustaining,” Pandey added.</div> <div> </div> <div> <span style="font-size: 14px;"><strong>The Expansion </strong></span></div> <div> The Pandey family came with its second venture 11 years ago - Cosmos Cement Industries Pvt Ltd. The company could not pick up immediately because of the ongoing armed conflict and the Madhesh movement that followed, recalls Pandey. The company was virtually in a status quo for almost five years after its establishment. The company is currently producing cement by grinding clinkers. However, it has plans to come up with its own clinker producing unit by utilising local raw material – limestone.</div> <div> </div> <div> Pandey reveals that as prerequisite of setting up a clinker production unit, two limestone mines are being excavated in Udaypur district. A feasibility study for setting up the plant has been completed and the essential land for it has been acquired after carrying out IEE and EIA. Likewise, another clinker producing unit is under construction in Janakpur. Initially this plant will be producing 700 tonnes of clinkers daily. Pandey says that once the unit completes its trial phase, its capacity will be increased gradually and is expected to reach 1200 tonnes per day within a year. He says that the plant will be catering to the high demand of cement in the eastern part of the country. Targeting this market, around nine months back, a cement factory with a production capacity of 400 tonnes per day was installed in Biratnagar. Similarly, one factory is under operation in Janakpur. The current expansion is being made with a total investment of Rs 1.5 billion.</div> <div> </div> <div> When the second generation businessmen in the Pandey family joined the business, set-up by their father, they took the business to new and varied sectors so that the three brothers can look after one of the sectors each. Now the group is involved in banking and financial sector, mining, cement production and pharmaceuticals.</div> <div> </div> <div> Pandey says that the group is willing to take pharmaceuticals and cement production companies to the next level in the near future. He reveals that the group is also planning to come with Ayurvedic medicines soon. These medicines will be branded uniquely and will be sold in the global market. Currently the group is employing 300 people in its group of companies other than financial institutions.</div> <div> </div> <div> <span style="font-size: 14px;"><strong>Branding Consolidation </strong></span></div> <div> The parent company of the group, Lomus Pharmaceuticals has become a well known brand name in the pharmaceutical industry. Pandey says that the recognition the company has got is because of the quality that the company has promised and delivered in its range of products. He says that the company does not compromise on quality and believes that products should be easily available at affordable price.</div> <div> </div> <div> Similarly, Tej Cement is a popular brand in the eastern Nepal. Popularity of this brand has encouraged the company to expand its production unit and add new factories. However the group has not yet given serious thoughts of branding the entire group under a consolidated name. Pandey hints the possibility of it in the future but not anytime soon.</div> <div> </div> <div> Pandey shares that all of the companies under the group are growing annually at a healthy rate of 20 per cent in average. The group registers an annual turnover of Rs 3 billion per year. He is quite satisfied with this progress but sees room for improvement. He adds, “I will be the happiest entrepreneur if we can make our name popular worldwide. I dream of making Lomus an international company and a brand name recognised everywhere.”</div> <div> <hr /> </div> <div style="text-align: center;"> <span style="font-size: 16px;"><strong>Core Sectors of the Group</strong></span></div> <div> </div> <div> <span style="font-size: 14px;"><strong>Pharmaceuticals</strong></span></div> <div> Pharmaceutical is one of the core areas of the group and the parent business for it. Lomus Pharmaceuticals Pvt Ltd is one of the market leaders in Nepal’s pharmaceuticals market. This company produces 400 products. However, its factory is operating for just 12 hours a day due to power supply problem. Apart from supplying its products to the general medicine market, the company also supplies to government.</div> <div> </div> <div> Cement and Mining Industry Cement production is one of the strong sectors of the group. The group has allocated two mining companies for its cement industries. Cosmos Quarries Pvt Ltd and Udaypur Mineral Tech are taking up the responsibility of limestone mining. However, the group is open for exploring new area for mining. Pandey sees potentials in copper and iron mining but transportation and electricity are the pre-requisites which he expects that the government should ensure.</div> <div> </div> <div> <span style="font-size: 14px;"><strong>Financial Sector</strong></span></div> <div> The group has presence in the banking and financial sector with three companies as one of the promoter shareholders. International Leasing and Finance Company Limited had a plan for upgrading to a commercial bank but could not do so in the lack of legal provision to do so. However, it has now plans to go for merger.</div> <div> </div> <div> Pandey says that merger talks are going with few financial institutions and he expects that these talks will conclude within the next five months. Apart from it, the group is involved with Citizens Bank International and Shikhar Insurance Company Limited. Similarly, the group has a presence in merchant banking sector through its Lomus Investment Co Pvt Ltd.</div>', 'published' => true, 'created' => '2014-01-24', 'modified' => '2014-01-26', 'keywords' => 'new business age corporate focus news & articles, corporate focus news & articles from new business age nepal, corporate focus headlines from nepal, current and latest corporate focus news from nepal, economic news from nepal, nepali corporate focus economic news and events, ongoing corporate foc', 'description' => 'Lomus Pharmaceuticals and the group of companies take every step carefully while investing in a new sector. The group, if allowed by the law, looks forward to invest abroad.', 'sortorder' => '2341', 'image' => null, 'article_date' => '0000-00-00 00:00:00', 'homepage' => false, 'breaking_news' => false, 'main_news' => false, 'in_scroller' => false, 'user_id' => '0' ) ), (int) 6 => array( 'Article' => array( 'id' => '2495', 'article_category_id' => '42', 'title' => 'Nepse Legs Up For The Next Bull Run', 'sub_title' => '', 'summary' => null, 'content' => '<div> <strong>--By Bikram Chitrakar</strong></div> <div> </div> <div> The Stock market of Nepal witnessed a strong unusual movement after completion of the second elections for Constitutional Assembly (CA) and announcement of the results. Investors’ sentiment was purely bullish and Nepse registered high trade volumes and frequent circuit breaks in the trading platform. The benchmark Nepse index skyrocketed by 150.07 points or 18.60% taking the secondary market to a 5-year high of 806.82 on December 18, 2013. The index was hovering around the same level in November 11, 2008. The final results of the CA elections further stimulated the stock market which had already leaped after the elections were over. Besides hope of political sustainability has improved the bullish sentiment leading the market to gain nothing like before. </div> <div> </div> <div> The gaining momentum has been supported by excess liquidity in the banking system despite the central banks several rounds of reverse repo operations with an aim of absorbing the excess liquidity from the market. Liquidity available with the investors at this time has also helped to boost the market as average daily turnover in Nepal Stock Exchange has now crossed Rs. 500 million. Likewise lack of potential investment opportunities in the real sectors has flooded fresh additional investments in the stock market. </div> <div> </div> <div> Following the excess liquidity in the financial system, cut in interest rates for deposit as well as lending by Banks and Financial Institutions (BFIs) and relative flexibility in share margin loan have also underpinned the recent growth in the country’s stock market. However informally it has been heard that Nepal Rastra Bank, the regulator of the country’s banking industry, is mooting introduction of some rigid measures on loan against share certificate. If so is the case, there may be some corrections in the market. </div> <div> </div> <div> <span style="font-size: 14px;"><strong>Performance by Sector</strong></span></div> <div> Following the previous trend, insurance sub-index topped the gaining chart with increase of 280.11 points for the period to rest at 1997.51. Hydropower sub-index added 248.03 points or 13.55% to settle at 1831.09. In the mean time, Hotel sub-index moved higher by 195.02 points to rest at 1100.64 on December 18, 2013. The Banking sub-index stepped up 192.84 points or 23.19 % to close at 831.66 while the sub-index of Development Banks registered a gain of 97.25 points for the period. The ‘Others’ sub-index accumulating the heavy scrip of Nepal Telecom surged 54.03 points to settle at 822.38.</div> <div> </div> <div> Sensitive index that measures the performance of 120 ‘A’ class companies listed at the secondary market moved higher by 28.78 points or 15.70% to settle at 183.28 while the float index calculated on the basis of real transaction of listed securities went uphill by 8.71 points or 16.37% to close at 53.21. Total of Rs. 7390 million turnover was realized during the review period from the business of 21.16 million units of share via 48,940 transactions.</div> <div> </div> <div> During the period of November 24 to December 18, 2013, commercial banks accounted the most of the turnover covering 70.84% of the total. In the mean time, Insurance sector covered 11.04% and development bank 7.71% followed by hydropower sector with 7.06% and the rest of the sectors made up the remaining portion. </div> <div> Technically, the Simple Moving Average (SMA) has dominated both 30 days SMA and 200 days SMA. Unusual strong growth in index has invited correction at this level. Hence cautious observation is required at this level to determine support and resistance regions. </div> <div style="text-align: right;"> <em>(Chitrakar is a Stock Analyst with Jamb Technologies Pvt Ltd.)</em></div> <div> <img alt="Stock taking" src="/userfiles/images/stock%20(Copy)%20(Copy).jpg" style="width: 550px; height: 208px; margin-left: 10px; margin-right: 10px;" /></div>', 'published' => true, 'created' => '2014-01-24', 'modified' => '2014-01-26', 'keywords' => 'new business age stock taking news & articles, stock taking news & articles from new business age nepal, stock taking headlines from nepal, current and latest stock taking news from nepal, economic news from nepal, nepali stock taking economic news and events, ongoing stock taking news of nepal', 'description' => 'The Stock market of Nepal witnessed a strong unusual movement after completion of the second elections for Constitutional Assembly (CA) and announcement of the results. Investors’ sentiment was purely bullish and Nepse registered high trade volumes and frequent circuit breaks in the trading platform. The benchmark Nepse index skyrocketed by 150.07 points or 18.60% taking the secondary market to a 5-year high of 806.82 on December 18, 2013. The index was hovering around the same level in November 11, 2008. The final results of the CA elections further stimulated the stock market which had already leaped after the elections were over. Besides hope of political sustainability has improved the bullish sentiment leading the market to gain nothing like before.', 'sortorder' => '2340', 'image' => null, 'article_date' => '0000-00-00 00:00:00', 'homepage' => false, 'breaking_news' => false, 'main_news' => false, 'in_scroller' => false, 'user_id' => '0' ) ), (int) 7 => array( 'Article' => array( 'id' => '2494', 'article_category_id' => '41', 'title' => 'Alternative Energy Replacing Traditional Ones', 'sub_title' => '', 'summary' => null, 'content' => '<div> </div> <div> </div> <div> <strong>--By Suraksha Adhikari</strong></div> <div> </div> <div> A country endowed with immense hydropower potential has been facing an acute energy crisis. Despite Nepal’s potential wealth in solar energy and hydropower the development of these energies has not kept pace with population growth. The little renewable energy that has been harnessed is poorly distributed due to crumbling infrastructure that is incapable of delivering, for example, parts for wind turbines. </div> <div> </div> <div> More than half of the country’s households - almost all in urban and semi-urban areas - are connected to the national electricity grid. But 80 percent of the population is rural, and in these areas, less than one-third has electricity. With grid extension to the country’s hilly and mountainous areas prohibitively expensive, officials are looking to off-grid renewable energy alternatives. </div> <div> </div> <div> Govinda Raj Pokharel, Executive Director of Alternative Energy Promotion Centre (AEPC) said, “We are using alternative energy mainly for rural electrification that provides an easy access of clean energy to rural area. But now we are moving to urban areas with the use of solar and utilization of bio degradable waste.”</div> <div> </div> <div> Talking about the consumption of renewable energy in Nepal he said, “Quantity-wise, renewable energy is covering 1 per cent of total population of the country. Our energy comes from bio-mass which is consumed by around 87 per cent of the total household.” But in terms of number of population around 14 percent of total population is using renewable energy to get light, Pokharel added.</div> <div> </div> <div> Alternative Energy Promotion Center is a national focal government organization for promoting renewable and alternative energy technologies in Nepal. AEPC is acting as an intermediary institution between the operational level i.e. NGOs/private promoters of renewable energy and the policy decision levels in relevant ministries. AEPC's activities include renewable energy policy formulation, planning and facilitating the implementation of the policies/plans, standardization, quality control and monitoring. </div> <div> </div> <div> Pokharel further added the role of alternative energy promotion sector is mainly to promote the use of renewable energy and our approach is public private partnership. “We work jointly with private organizations that are responsible to deliver and supply energy to the people and we work to fulfill demands by creating awareness and other activities, ”he said. </div> <div> </div> <div> <span style="font-size: 14px;"><strong>Resource Potential</strong></span></div> <div> There are abundantly available sources for mini and micro hydro power, enough solar radiation, good potential of wind in selected areas and other biomass based resources to meet the energy need of our country.</div> <div> </div> <div> Mini-Micro and Pico-hydro up to 100kW can be developed in a short period of time to electrify the villages. The existing total installed capacity of micro hydro projects is about 20 MW. However, altogether mini micro-hydro can generate about 10,000 MW of power in Nepal. </div> <div> </div> <div> Nepal receives ample solar radiation as it is located in favorable latitude. With National average sunshine hours of 6.8/day and solar insolation intensity of about 4.7 kWh/m2/day, there is a huge potential for large-scale development of solar energy technologies in the country. Presently solar water heater systems have been fully commercialized and have been widely installed in the country. </div> <div> </div> <div> About 1.5 million households can install domestic biogas plants based on animal dung. Another potential application of biogas technology in Nepal is to manage household solid waste in urban and peri-urban areas. There is also a significant potential of medium sized biogas plants suitable for SMEs, mainly in the dairy farms, poultry farms where biogas can be used directly for heat or for electricity generation that can replace diesel or other forms of fossil fuels. The other biomass waste having energy potential includes municipal solid waste. Over 1,350 tons of solid waste is generated across the 58 municipalities in Nepal. About 70% of municipal (solid) waste is biodegradable, and this waste can be used to generate energy. It is estimated that 50 million kWh can be generated per year from the total waste generated in these municipalities.</div> <div> </div> <div> <span style="font-size: 14px;"><strong>Why Alternative Energy in Nepal?</strong></span></div> <div> Focusing on the importance of alternative energy Pokharel said that alternative energy is important in Nepal mainly to address and reduce development disparity considering the people in rural areas also should have clean light as the people enjoy in urban areas. </div> <div> </div> <div> Similarly Nepal has diversified land structure from plain to high Himalayas and also settlement pattern is scattered and sparse. National grid extension in some places is not economically feasible. Big hydro projects need a huge investment and all the petroleum products consumed in Nepal are imported from India or overseas in the refined form for direct consumption, which is causing the economic burden for the country. </div> <div> </div> <div> The high potentiality of the renewable energy resources available in the country is the most appropriate option for Nepal. It also helps to reduce the dependency on the traditional biomass energy resources and fossil fuels and to manage the energy crisis of the nation. This ultimately helps to minimize the degradation of the environment.</div> <div> </div> <div> Alternative energy helps in enhancing energy security and promoting energy mix in the country. </div> <div> </div> <div> <span style="font-size: 14px;"><strong>Cost Effective</strong></span></div> <div> The experts of alternative energy claim that the alternative energy use costs cheaperthan traditional sources. Though initial investment cost of alternative energy technologies are expensive compared to the other traditional sources of energy. In the long-run alternative energy is mostly cheaper than the traditional sources because alternative source is almost free but you have to pay always for traditional source. Hence, if the financial mechanism can be developed in such a way that users can pay in installment basis by mortgaging house, vehicle, etc., than users will not feel initial financial burden.</div> <div> </div> <div> <span style="font-size: 14px;"><strong>Popularity of Alternative Energy</strong></span></div> <div> In Nepal, depending upon the geographical and type of energy required, solar is popular for lighting purpose, mini micro hydro is popular in hilly areas, biogas for cooking purpose. Around 700,000 households use biogas, 500,000 use solar and various other forms of alternative energy.</div> <div> </div> <div> There is no doubt regarding the fact that solar energy based technologies such as Solar Photovoltaic or Solar Thermal systems are the best substitutes. Right now, in the urban sector, individual households are opting for small-scale Solar PV solutions for domestic use. Even institutions like banks, corporate offices, and hospitals have adopted larger size system to meet their immediate energy needs. Besides Solar PV, which generates direct electricity; Solar Thermal systems also play a crucial role in minimizing use of electricity from national grid as well as reduce dependency on imported petroleum products.</div> <div> </div> <div> “Solar can now compete with hydropower,” Pokharel added. We are targeting to provide cooking stoves to 2 million and lighting to one million, he said. </div> <div> </div> <div> <span style="font-size: 14px;"><strong>Issues in this sector</strong></span></div> <div> Though alternative energy sources are focused on electrifying rural areas, Pokhrel says that the efforts made are not sufficient. There is still lack of alternative energy usage in the rural areas, which needs to be fulfilled. </div> <div> </div> <div> “We are not able to provide full financing for the installation of the alternative energy systems and this affects poor and rural people,” he added.</div> <div> </div> <div> Elaborating on the effort of AEPC in producing energy from sugarcane extracts, Pokharel said, “We are also trying to produce energy blending ethanol in petrol but lack of mandatory policy from government has restrained this effort. At least 5 per cent of Nepal petrol consumption can be replaced with this.”</div>', 'published' => true, 'created' => '2014-01-24', 'modified' => '2014-01-26', 'keywords' => 'new business age sectoral news & articles, sectoral news & articles from new business age nepal, sectoral headlines from nepal, current and latest sectoral news from nepal, economic news from nepal, nepali sectoral economic news and events, ongoing sectoral news of nepal', 'description' => 'A country endowed with immense hydropower potential has been facing an acute energy crisis. Despite Nepal’s potential wealth in solar energy and hydropower the development of these energies has not kept pace with population growth. The little renewable energy that has been harnessed is poorly distributed due to crumbling infrastructure that is incapable of delivering, for example, parts for wind turbines.', 'sortorder' => '2339', 'image' => null, 'article_date' => '0000-00-00 00:00:00', 'homepage' => false, 'breaking_news' => false, 'main_news' => false, 'in_scroller' => false, 'user_id' => '0' ) ), (int) 8 => array( 'Article' => array( 'id' => '2492', 'article_category_id' => '46', 'title' => '“Situation Is Difficult In Nepal For The Manufacturing Sector To Prosper”', 'sub_title' => '', 'summary' => null, 'content' => '<div> </div> <div> </div> <div> <span style="font-size: 16px;">Kedia Organisation, the oldest and one of the most talked about business conglomerates of the country, has been practicing a synergistic combination of family ownership and professional management since 1909 A.D. Named after their fathers, Late Sundarmal Kedia and Late Ram Kumar Kedia, it was surely a turning point for the Kedias when the first foundation stone of their present day multimillion conglomerate was laid in the form of a small cloth trading business. The group envisions reaching the zenith and being a premium conglomerate through outstanding service performance and clear business vision. Manoj Kedia, Executive Director of Kedia International and Vice president of the Confederation of Nepalese Industries (CNI), talks with New Business Age’s Homnath Gaire and Upashana Neupane on the group’s journey in Nepal so far, role of the private sector in nation’s development and the group’s future plans. Excerpts:</span></div> <div> </div> <div> <span style="font-size: 14px;"><strong>How is the history of Kedia Group different from the general history of Nepal’s private sector?</strong></span></div> <div> Trading business in Nepal started along with the Kedia Family. Initially, Kedia family started its business as a cloth merchant with stores in Birgunj and Kathmandu that sold clothes imported from India. With initiation of Late Brij Lal Kedia we gradually expanded our business to food grains trading. It started small but as time progressed it expanded across Nepal. </div> <div> </div> <div> He used to collect food grains from every corner of the country and supply them to even remote areas that lacked transportation facilities. For the first time in Nepal, he fixed prices of food grains and at a certain point, even the Khadya Sansthan (government owned Nepal Food Corporation) fixed food grain prices by consulting him. Later he established rice mills, dal mills and many more food grain factories. He established Nepal’s first modern rice mill, Bhagwati Rice Mill. </div> <div> </div> <div> Later Shankar Lal Kedia expanded foothold in the manufacturing sector. He established factories related to steel furniture, stainless steel utensils, textile, umbrella, socks, wheat flour, corrugated steel, copper utensil etc. During that time the steel, textile, and corrugated sheet industries were pioneers in their respective fields in Nepal and they are the backbones of the present day Kedia Organisation.</div> <div> </div> <div> At the same time we also entered in general merchandising sector by importing goods from third countries and bulk-traded them in local market. Our imports included cloth, electronics, food items, medical equipment, household products, hardware, cement, sugar, and edible oil among others. We also exported rice to Tibet and pulses and lentils to Sri Lanka, Bangladesh and to some European countries. </div> <div> </div> <div> We established Caltex Company, a petrol pump agent in Nepal, and this is still in operation as Kedia Auto in Birgunj. </div> <div> </div> <div> Kedia Group also is one of the first industrial houses to advertise its products. We sponsored the “Sundar Sushil Sangeet”, a popular song-on-request programme aired on Radio Nepal, to promote our products. </div> <div> </div> <div> Amid this long list of successful ventures, we also had some disappointing projects. Though we had bagged the license to launch Coca Cola in Nepal, we had to drop the project in the last minute due to some partnership problems. In 2015 B.S. we had to give up the launch of an iron steel factory project, even though necessary equipment and machinery were imported, after King Mahendra dissolved the democratic government and assumed power. Similarly in 2036-2037 B.S. we had to pull back from establishing the Kedia Paper Industry</div> <div> </div> <div> <span style="font-size: 14px;"><strong>What is the present status of Kedia Group and how is it different from the overall situation of the private sector?</strong></span></div> <div> Despiteour engagement in diverse sectors, manufacturing sector is our major area. We have established ourselves in the cement, carpet, and the sugar industry. Recently we have started manufacturing PVC carpet and are upgrading production capacity of Indusankhar Sugar Mill, Nepal’s one of the oldest and leading sugar industries. </div> <div> </div> <div> In the past we invested in the banking and financial sector. We had invested in Siddhartha Insurance, Siddhartha Capital and Siddhartha Bank. </div> <div> </div> <div> Kedia Group has made some significant investment in the service sector and presently we run several schools and hospitals in the country. </div> <div> </div> <div> Along with bulk trading, Kedia Group has once invested in housing projects. And as part of its plan to expand its foothold, the group has made small investments in other sectors like hydropower for getting acquainted with them. </div> <div> </div> <div> <span style="font-size: 14px;"><strong>How is this conglomerate with interests in so diverse fields being managed and controlled?</strong></span></div> <div> We have a joint family and we have divided our tasks within our family members for various sectors. We work in our respective sectors. Our father’s generation is also actively involved in managing the business. </div> <div> </div> <div> In the recent years, Nepal’s private sector is diverting investments to service and trade sector from the manufacturing sector. What is the reason?</div> <div> Nepal is a market of its own kind. Situation is difficult here for the manufacturing sector to prosper. Power shortage, a major problem faced by this sector, has been one of the major causes for such decrease in investment in such sectors. Open import is another hindering factor. Nepali market is crowded with cheap products from China and India and it is very hard for domestic products to compete with imported products in the market, especially in terms of cost. As such, only ethnic Nepali products can sustain in the local market.</div> <div> </div> <div> Lack of skilled and productive manpower, unfriendly labour environment and decrease in agricultural production that has triggered increased imports of agro products, are other factors that are affecting the growth of the manufacturing industries in Nepal. </div> <div> </div> <div> <span style="font-size: 14px;"><strong><img alt="Manoj Kedia" src="/userfiles/images/inter1%20(Copy)(1).jpg" style="float: left; margin: 0px 10px 0px 0px;width: 300px; height: 321px;" />You are a vice-president of Confederation of Nepalese Industries (CNI) that specializes in the promotion of industries rather than trading. Why is not CNI doing something to put a stopper on the deindustrialization of Nepali economy?</strong></span></div> <div> This accusation is wrong. CNI has unwavering vision and mission to achieve. It was established to address private sector’s problems by promoting liberal policies.The organization believes that the country can achieve prosperity via private sector’s involvement in development activities. It has always focused on facilitating the activities of private sector.</div> <div> </div> <div> In reality, many of the genuine issues and demands raised by CNI for promoting private sector remain unaddressed due to concerned authorities’ reluctance. I am pretty confident that the private sector can make tangible impact if issues and demands raised by CNI are endorsed by the parliament.</div> <div> </div> <div> <span style="font-size: 14px;"><strong>You said Kedia Group is also entering the power generation sector. Would you please elaborate on this?</strong></span></div> <div> The entire industrial sector has been suffering from power deficit. Industrial sector incurs billions of losses due to it. It is a national problem and it is obvious that major business houses want to engage in the power generation business.</div> <div> </div> <div> Presently power/energy costs have increased steeply. Simultaneously, demand for power has also increased. Hydropower has high market potential. As we are aware, due to our inability to use our energy resources, we are purchasing energy from neighbouring countries in various forms like petrol, diesel and oil. Most of our financial resources, which we could have invested in productive sectors, are spent in purchasing energy. </div> <div> </div> <div> Hydropower projects need lots of investment. We need laws and policies friendly enough to attract FDI in that sector. So far, Kedia organisation has not made substantial investment in this sector. We have invested as shareholder in this sector to study the sectoral behaviour. </div> <div> </div> <div> <span style="font-size: 14px;"><strong>Why is the Kedia Group not generating power through cogeneration from its sugar mill and supplying it to the national grid?</strong></span></div> <div> We can produce 10 Mega Watt of electricity from cogeneration, that too when the country faces maximum power shortage. To produce power, we need huge investment for developing infrastructure. If such infrastructures are developed in all industries across the nation, 30 to 40 Mega Watt of electricity can be produced. It is far less costly than thermal power plants and other alternative means and takes less time to establish also. </div> <div> </div> <div> However, huge investment is required to develop necessary infrastructure for such a project. As policy keeps changing, it entails huge investment risks. Such risk can be only taken if the state formulates conducive policy and provides special incentives. Otherwise, as an entrepreneur, I would not risk my investment.</div> <div> </div> <div> Presently, waste from the paper mill remains unexploited. If government supports in setting up power plants, such wastes can be used to generate multifuel whenever the nation needs. </div> <div> </div> <div> <span style="font-size: 14px;"><strong>Despite being a major player in agro-processing industry why is the Kedia Group not building backward linkages with the farmers?</strong></span></div> <div> We have been coordinating with farmers. We regularly provide them with various skill-based trainings and loans too. We have set up Sugar Mill in Sarlahi district, the major sugarcane growing centre of the country, and it is an instance that reflects how we work in coordination with farmers. In addition to that, we have been actively engaged with farmers in the dairy business as well.</div> <div> </div> <div> <span style="font-size: 14px;"><strong>Now that the Constituent Assembly elections are over, how do you visualize the business scenario in the days ahead?</strong></span></div> <div> Democracy has to be institutionalised. Political issues have been settled and that marked the crossing of transitional politics. The rhetoric of transition politics should not be repeated and we should be optimistic of economic growth in the days ahead. Kedia Group is very hopeful of contributing to the overall development of the country.</div> <div> </div> <div> During the last half-decade, there have been many positive changes in the political regime. With the successful completion of second Constituent Assembly election, it’s time to focus on institutionalising the achievements.</div> <div> </div> <div> Now, political parties should prioritize national interests by brushing aside their partisan and personal interests and focus on formulating collective goals to achieve national economic growth. </div> <div> </div> <div> It’s an achievement for the private sector that almost all major political parties consider it as the backbone of the national economy. Unity in diversity is our speciality and Nepali leaders should translate this mantra into reality. They should prioritize economic prosperity in their political agenda. Nepali business won’t get good reputation in international market unless our economy is strong and self-reliant. It is possible and all we need is sincere commitment from our politicians.</div> <div> </div> <div> <span style="font-size: 14px;"><strong>What agenda would you like the upcoming government to focus on for the progress of business-economic field? </strong></span></div> <div> The government should show readiness to address some pending economic agenda. It should create environment whereby industries can be set up in every district. Local bodies should be given authority for deciding utilization of local resources. The central government should act as intermediary to mitigate problems faced by the private sector at the local level.</div> <div> </div> <div> Above all, state should ensure political stability and strong governance and ensure their commitment made in the last election to the general public of drafting and promulgating the new constitution within the promised time frame. Economic growth of the nation can sustain and progress only if the state and political actors act as strong catalyst and continue propelling it. </div> <div> </div> <div> <span style="font-size: 14px;"><strong>The manufacturing index for the last fiscal year and the trade statistics for the first four months of the current fiscal year show some positive indications of improvement over the previous year. How do you interpret this information?</strong></span></div> <div> It is too early to comment on this. We do not see any drastic changes in the manufacturing sector over the last fiscal year. There are several reasons for the said improvement of manufacturing index. Firstly there was comparatively better supply of electricity, and secondly political realm remained stable during the last fiscal year. Dollar revaluation also contributed much for the better performance in the exports trade. We had less volume of imports, that is the domestic market imported fewer consignments in the last fiscal year, and this helped show improvement in the growth rate of the trade deficit. But we should remember that the trade deficit is still increasing though in slower rate.</div> <div> </div> <div> <span style="font-size: 14px;"><strong>Where do you see Kedia Group of Industries in five years of time?</strong></span></div> <div> In five years, we envision our involvement in diverse business. We will be engaging in the infrastructure, tourism, power and in the manufacturing sector. All we need is a strong and stable government, business-friendly policies and fair competition between private sector players. The domestic market has huge potentials and Kedia Group looks forward to tap and invest in them to create more jobs in the domestic market itself.</div>', 'published' => true, 'created' => '2014-01-24', 'modified' => '2014-01-24', 'keywords' => 'new business age interview news & articles, interview news & articles from new business age nepal, interview headlines from nepal, current and latest interview news from nepal, economic news from nepal, nepali interview economic news and events, ongoing interview news of nepal', 'description' => 'Kedia Organisation, the oldest and one of the most talked about business conglomerates of the country, has been practicing a synergistic combination of family ownership and professional management since 1909 A.D. Named after their fathers, Late Sundarmal Kedia and Late Ram Kumar Kedia, it was surely a turning point for the Kedias when the first foundation stone of their present day multimillion conglomerate was laid in the form of a small cloth trading business.', 'sortorder' => '2337', 'image' => null, 'article_date' => '0000-00-00 00:00:00', 'homepage' => false, 'breaking_news' => false, 'main_news' => false, 'in_scroller' => false, 'user_id' => '0' ) ), (int) 9 => array( 'Article' => array( 'id' => '2478', 'article_category_id' => '153', 'title' => 'Rainbow Trout Business In Nepal', 'sub_title' => '', 'summary' => null, 'content' => '<div> </div> <div> <strong>--By Rashika Pokharel</strong></div> <div> </div> <div> Rainbow Trout fish farming is a profit generating business, which has a wide scope in the Nepali market. Rainbow Trout, one of the many species of trout fishes, is a freshwater fish of the salmon family. Rainbow Trout fish have layers of red, green and blue colours glinting from their scales and get their name from this particular quality. This fish grows in cold and fresh running water. Climatic conditions of Nepal are suitable for the farming of this fish and correspondingly many entrepreneurs have capitalized on this fact. Nepali fish lovers have admired delicacies of this fish while appreciating various health benefits it has. </div> <div> </div> <div> The fish is not native to Nepali waters. For the first time, it was imported for cultivation from Japan in 1988. Due to favourable environmental condition, production of this fish flourished since then. Recently, private sector has introduced new technologies for producing and packaging it. In Nepal, it is generally perceived that fish farming is possible only in the Terai region of the nation. However, recent developments made in fish farming techniques, has caused a paradigm shift in this sector. Now, Rainbow Trout farming is possible in Hilly areas as well.</div> <div> </div> <div> Rainbow Trout farming was first started in Nuwakot. It has been able to bring considerable changes in economic status of the farmers. Even though the fish if produced in multiple places across the nation, the production has not been able to meet market demands. The fish is available in few department stores in Kathmandu. And sometimes consumers are found to be importing it as well. Comparatively the fish is costly than other species of fishes available in Nepali market. “A kg of rainbow trout fish costs Rs. 1400,” says Rajendra Khadka, owner of Budanilkantha Riverside Restaurant, that sells this fish by producing in its own facility inside the restaurant premises.</div> <div> </div> <div> <span style="font-size:14px;"><strong>The Healthiest Choice</strong></span></div> <div> Rainbow trout is rich in protein which helps to lose weight and retain lean muscle mass. It contains Omega-3 fatty acid, which helps to reduce blood pressure and helps to overcome depression. This acid also reduces risks of cardiovascular disease, hypertension, high blood cholesterol and certain types of cancer. It contains minerals, iron, calcium, zinc and vitamins including- vitamin B complex and Vitamin D. Delicious and readily available in most grocery stores, Rainbow Trout is also low in sodium and calories.</div> <div> </div> <div> Rainbow trout has comparatively low-fat level and is low in cholesterol too, which makes it a good protein substitute for meats like beef, pork and lamb that contain significantly higher amounts of saturated fat and cholesterol.</div> <div> </div> <div> <span style="font-size:14px;"><strong>Production</strong></span></div> <div> Rainbow trout production is expensive. Rs 20 million investment is required to produce 10 tons of Rainbow Trout and Rs 10 million is required to produce 5 tons. The Investment can be made on the basis of producer’s need and financial capabilities. Like other business field, this field has its own bottlenecks and risk factors. “Rainbow trout production is not easy. The sustenance of Rainbow Trout farming is difficult to manage both in terms of monetary and labour cost,” says Khadka.</div> <div> </div> <div> Farmers buy baby Rainbow Trout and rear them until they grow to a standard weight. According to Kapil Thapa, Manager at Nepal Rainbow Trout Farmers Association, the standard weight of a rainbow trout for selling is 200 gram. It takes a year for the baby trout to grow up and gain this weight. </div> <div> </div> <div> Rainbow trout farming can be done in any season. However, “The most favourable season for its farming is from November to April,” says Mahendra Ghorasini, Central Vice-president of Himalayan Trout Association. The suitable temperature for an adult Rainbow Trout to grow properly is 10-14 degree Celsius and 9-12 degree Celsius for the smaller one. This species of the fish require clean, cold and continuously flowing water to sustain and grow.</div> <div> </div> <div> <span style="font-size:14px;"><strong>Problems</strong></span></div> <div> Rainbow Trout farming is done by a very few farmers because its production is expensive as well as difficult. A single rainbow trout farm setup requires continuous flowing water, a cemented pool and a large area. Though this fish is popular, the popularity is limited to a very few selected groups and is yet reach the mass market. Due to high cost, the popularity is limited to upper middle and high-class people who can afford high costs for seafood eateries. One of the many reasons for the failure of this product to establish in the mass market is the lack of seafood eating culture among general Nepalis, some of which also perceive that seafood eateries are beyond their household budget, Ghorasaini says. Failure to obtain large market for the product has incurred losses to some farmers as sometimes farmers cannot sell reared Rainbow Trout in time. </div> <div> </div> <div> Another reason behind the declination of rainbow trout sales is the lack of advertisement. “We are not getting platform to let people know about rainbow trout,” says Thapa. In lack of a proper platform to advertise and reach the common mass of people, the farming has received substantial setbacks in supply its produces. </div> <div> </div> <div> One of the major reasons for the high cost of Rainbow Trout in the market is the cost of the food served to this fish. Food served to this fish costs between Rs 130 to Rs 225 per kg.</div> <div> </div> <div> Adding to it lack of technological developments, proper equipment, and experts the production of the fish has been affected. “We don’t have latest technological equipment that can make substantial changes in producing the fish on large scale,” Ghorasini said pointing out the reason behind small-scale production of the fish.</div> <div> </div> <div> <span style="font-size:14px;"><strong>The future</strong></span></div> <div> Despite the seemingly disinterestedness among urban and rural Nepalis for seafood, trends are changing. With more and more restaurants booming in Kathmandu and other urban centres across the nation and with consumers becoming more concerned about hygienic and healthy food, Rainbow Trout delicacies are expected to gain more popularity in the days ahead. Even though the fish is costly, increasing income level of consumers and the health benefits attached to this fish will help in attracting more consumers to buy it. Therefore, they are ready to pay a higher price if the food is nutritious and beneficial. </div> <div> </div> <div> Future of farmers and entrepreneurs involved in this sector can be secured through special initiatives of the government. The government should assist in conducting researches and providing remedies to the Rainbow Trout fisheries and assist in coordinating with international communities for in sourcing technological advances made in this field. Providing subsidies on the raw materials used by this industry would further help in bringing the market cost of the product and thereby increasing sales of the farmers and making this healthy product available to mass consumers.</div> <div> </div> <div> <img alt="Rainbow Trout Business in Nepal" src="/userfiles/images/fn1%20(Copy).jpg" style="width: 550px; height: 206px; margin-left: 10px; margin-right: 10px;" /></div>', 'published' => true, 'created' => '2014-01-20', 'modified' => '2014-01-27', 'keywords' => 'the corporate weekly from Nepal, nepali corporate events – news – interviews – reviews, nepali corporate focus, nepali corporate status and news, news from nepali corporate industry, corporate happenings – events – news from nepal', 'description' => 'Rainbow Trout fish farming is a profit generating business, which has a wide scope in the Nepali market. Rainbow Trout, one of the many species of trout fishes, is a freshwater fish of the salmon family. Rainbow Trout fish have layers of red, green and blue colours glinting from their scales and get their name from this particular quality. This fish grows in cold and fresh running water. Climatic conditions of Nepal are suitable for the farming of this fish and correspondingly many entrepreneurs have capitalized on this fact. Nepali fish lovers have admired delicacies of this fish while appreciating various health benefits it has.', 'sortorder' => '2336', 'image' => null, 'article_date' => '0000-00-00 00:00:00', 'homepage' => false, 'breaking_news' => false, 'main_news' => false, 'in_scroller' => false, 'user_id' => '0' ) ), (int) 10 => array( 'Article' => array( 'id' => '2480', 'article_category_id' => '99', 'title' => 'Lumbini March Promotes Peace & Tourism', 'sub_title' => '', 'summary' => null, 'content' => '<div> </div> <div> <strong>--By TC Correspondent</strong></div> <div> </div> <div> Lumbini Peace Marathon organized Lumbini Peace March in Lumbini on 15th January. Officials of Lumbini Development Trust, Former Miss Nepal Sadkischay Shrestha, Olympians, representatives of Siddhartha Chamber of Commerce, Siddhartha Hotel Association, Siddhartha Hotel and Restaurant Association, officials from Nepal Tourism Board and sportsmen of Lumbini participated in the March. The March started from Peace Flame, went around the Mayadevi Temple and ended at the Peace Flame. </div> <div> </div> <div> Bikram Pandey, organizer of Lumbini Peace Marathon and Goodwill Ambassador of Lumbini said that the objective of the march was to promote the areas related with the life of Buddha as tourism destination. He also informed that the Lumbini Peace Marathon will be held on 16th March 2014. </div> <div> </div> <div> The Marathon will start from Tilorakot through Gotihawa, Kudan, Dohani, Barhiya, Pagadi, Labani and will finally end at Maya Devi Temple garden. All these places are related with the life cycle of Lord Buddha. There will be two men’s and women’s categories in the marathon. Students and Open will participate in five kilometer race and 10 kilometer corporate relay will be held for corporate participants.</div>', 'published' => true, 'created' => '2014-01-21', 'modified' => '2014-01-24', 'keywords' => 'the corporate weekly from Nepal, nepali corporate events – news – interviews – reviews, nepali corporate focus, nepali corporate status and news, news from nepali corporate industry, corporate happenings – events – news from nepal', 'description' => 'Lumbini Peace Marathon organized Lumbini Peace March in Lumbini on 15th January. Officials of Lumbini Development Trust, Former Miss Nepal Sadkischay Shrestha, Olympians, representatives of Siddhartha Chamber of Commerce, Siddhartha Hotel Association, Siddhartha Hotel and Restaurant Association, officials from Nepal Tourism Board and sportsmen of Lumbini participated in the March. The March started from Peace Flame, went around the Mayadevi Temple and ended at the Peace Flame.', 'sortorder' => '2335', 'image' => null, 'article_date' => '0000-00-00 00:00:00', 'homepage' => false, 'breaking_news' => false, 'main_news' => false, 'in_scroller' => false, 'user_id' => '0' ) ), (int) 11 => array( 'Article' => array( 'id' => '2491', 'article_category_id' => '168', 'title' => 'SAIM Producing Entrepreneurs', 'sub_title' => '', 'summary' => null, 'content' => '<div> </div> <div> </div> <div> <strong>--By Upashana Neupane</strong></div> <div> </div> <div> South Asian Institute of Management (SAIM) is an independent academic institution established in 2006. Located at Lagankhel, Lalitpur, SAIM aims to provide need-based management education and engage in management development, research and provide consultation services to facilitate the growth and development of managers, entrepreneurs, and business leaders in South Asia.</div> <div> </div> <div> SAIM aims to address the demand for skilled managers and entrepreneurs in Asia, which is expected to grow as it is the most dynamic economic centre for global trade, investment and technology innovation.</div> <div> </div> <div> It envisions generating professional managers and entrepreneurs who have a deep understanding of the region, its people and their deep rooted cultural values. And it has been working hard for the same with high degree of commitment, dedication and perseverance to establish itself as a regional learning centre of excellence for management studies.</div> <div> </div> <div> SAIM provides best of management education with some of the Nepal’s best intellectual professionals in its faculty such as Dr Bijay KC, Dr Prakash Chandra Lohani, Ashok R. Pandey, Madhukar SJB Rana and alike. The College offers Bachelor’s in Business Administration (BBA) and Master’s in Business Administration (MBA) in Global Business with affiliation from Pokhara University. </div> <div> </div> <div> Apart from that, SAIM has also collaborated with Asian Institute of Technology (AIT) Bangkok. With a purpose to upgrade education and research opportunities, SAIM signed an MOU with AIT in December 2009. The MOU focuses mainly on faculty and student exchange program, conducting joint research and studies. It also aims to build capacity of SAIM faculty members through degree and training programs at AIT. </div> <div> </div> <div> <span style="font-size: 14px;"><strong>College Objectives</strong></span></div> <div> •<span class="Apple-tab-span" style="white-space: pre;"> </span>To develop managers with sound management knowledge, skills and values along with leadership qualities and a positive attitude.</div> <div> •<span class="Apple-tab-span" style="white-space: pre;"> </span>To build relevant, practical curricula grounded on sound theory and based on regional case studies and experience sharing.</div> <div> •<span class="Apple-tab-span" style="white-space: pre;"> </span>To motivate students for bringing out the best in them and foster creativity, innovation and effective team building.</div> <div> •<span class="Apple-tab-span" style="white-space: pre;"> </span>To inculcate creativity and innovativeness in the faculty through continuing education, faculty development programs, consulting and research.</div> <div> </div> <div> </div> <div style="text-align: center;"> <span style="font-size: 18px;"><strong> “Be an entrepreneur not an employee”</strong></span></div> <div> </div> <table align="right" style="margin: 0px 0px 0px 10px;" width="25"> <tbody> <tr> <td> <img alt="Dr Bijay KC, Dean, SAIM" src="/userfiles/images/bkc.jpg" style="border-width: 0px; border-style: solid; width: 200px; height: 210px;" /></td> </tr> <tr> <td bgcolor="#FFFFFF"> <div align="center"> <div> <strong>Dr Bijay KC</strong></div> <div> Dean, SAIM</div> </div> </td> </tr> </tbody> </table> <div> Any developed country is well-developed because it’s well-managed. Until a country can’t utilise its resources, it can’t be developed. Utilising human resource and natural resources needs proper management. MBA (Masters in Business Administration) produces skilled or appropriate manpower for the utilisation of the resources, be it natural or human.</div> <div> </div> <div> MBA is regarded as best education worldwide for the management studies. It is a course providing practical knowledge about management. It teaches management of property as well as problems. It also helps in developing leadership and an individual’s decision making ability. It provides knowledge about specialized management which includes management of every sector. It teaches skills to apply theoretical knowledge in practical life. It also sharpens communication skills and team work. Thus, MBA has drawn attraction among students lately than other management programmes. </div> <div> </div> <div> Our country moved ahead to privatization after the change in policy in 1991resulting in increase of economic activities. Number of private industries, companies, banks, and financial sectors also increased after that. Similarly, activities in tourism sector and aviation also increased. Need of proper management was felt after the number and responsibilities of these institutions increased. For which, people with proper management skills were needed. MBA’s importance was felt to generate that manpower.</div> <div> </div> <div> Most of the students pursuing MBA have a thought of working with some companies. We suggest them to be entrepreneurs themselves rather than working with any organisation. MBA graduates should create employment rather than be an employee. Students belonging to industrial family automatically incline towards business while others think of doing job under some company. MBA however is not a subject to continue the traditional occupations. MBA graduates should be innovative enough to create employment opportunities and be progressive to face possible challenges in the market. However, being an entrepreneur is much more challenging than working for other organisations. </div> <div> </div> <div> MBA Graduates have showed good results in the management of the organizations. They are paid well also. Thus, the number of students wanting to study MBA increased along with the number of management schools providing MBA course. However, looking at the present scenario, number of MBA graduates has become more than the opportunities available and the size of the market. Economic activities that accelerated after 1991 have slowed down lately due to political instability in the country. MBA graduates thus are more in numbers than the opportunities available in the market. </div> <div style="text-align: right;"> <span style="font-size: 14px;"><em>(Based on an interview with Dr Bijaya KC.)</em></span></div>', 'published' => true, 'created' => '2014-01-22', 'modified' => '2014-01-24', 'keywords' => 'new business age business education news & articles, business education news & articles from new business age nepal, business education headlines from nepal, current and latest business education news from nepal, economic news from nepal, nepali business education economic news and events, ongoing', 'description' => 'South Asian Institute of Management (SAIM) is an independent academic institution established in 2006. Located at Lagankhel, Lalitpur, SAIM aims to provide need-based management education and engage in management development, research and provide consultation services to facilitate the growth and development of managers, entrepreneurs, and business leaders in South Asia.', 'sortorder' => '2334', 'image' => null, 'article_date' => '0000-00-00 00:00:00', 'homepage' => false, 'breaking_news' => false, 'main_news' => false, 'in_scroller' => false, 'user_id' => '0' ) ), (int) 12 => array( 'Article' => array( 'id' => '2490', 'article_category_id' => '31', 'title' => '“New Engines Of Growth Could Be A Stepping Stone For Nepal”', 'sub_title' => '', 'summary' => null, 'content' => '<div> </div> <div> <span style="font-size: 16px;"><strong>Prof Imon Ghosh</strong> is the Director of the Academy of Human Resource Development (AHRD), India’s premier institution specialising in human resources development. Prof Ghosh has a postgraduate degree in Economics with over 28 years of experience in industry and academia. He has identified five prospective new engines of economic growth, which, he claims, can reduce poverty across the developing countries as well as empower the disadvantaged/excluded groups in the developed countries. Recently, he was in Nepal to conduct a leadership workshop. New Business Age caught up with him on the sidelines of the workshop to talk about his idea of new engines for the economic growth and his other works. <strong>Excerpts:</strong></span></div> <div> </div> <div> <span style="font-size: 14px;"><strong>What brought you to Nepal?</strong></span></div> <div> This is my first visit to Nepal. Verisk invited me here to conduct a three-day leadership skill workshop for its management and senior management teams. Since I was here, I told my host to make another use of my visit by conducting a talk programme on my idea of new engines of economic growth. The motive of my Nepal visit is to start a discussion on my idea of ‘new engines of economic growth’ here in Nepal. I wanted to invite participants to provide me their inputs on it.</div> <div> </div> <div> <span style="font-size: 14px;"><strong>Can you please briefly highlight the idea of new engines of economic growth? What exactly are the new engines that you have identified?</strong></span></div> <div> I have identified five engines of economic growth. The first one is leveraging the demographic dividend through better education and skills. This also deals with the fiscal impact of ageing population, and links to deficits. Second is innovative teaching methodologies. This requires the overhaul of our education system from a teacher-centric pedagogy to a learner-centric andragogy, resulting in higher quality human capital that can add greater value to the knowledge economy. The third one is the ship design innovation that can reduce the cost of international trade. Likewise, fourth engine is related to research and development that results in the next generation of propulsion system after jet propulsion. This I have been thinking since the early 1980s. The fifth one is about the actionable ideas to reduce poverty and accelerate economic growth. This explores a new model for promoting financial inclusion, solutions to the current economic downturn, financial sector reforms and accelerating economic growth. My presentation here mostly dwelt on this fifth engine. </div> <div> </div> <div> <span style="font-size: 14px;"><strong>How did this idea of new engines of the economic growth evolve?</strong></span></div> <div> In 1992, I was doing my Masters in Economics. I came across a news article which said that many rural regional banks were running in losses and the government of India was trying to centralise them and take them to Delhi. My immediate thought was that it was a wrong thing to do; a rural bank should be in the rural area, and 196 such banks are not enough as India has over 600 thousand villages where over 815 million people live. Then I started investigating and looking at the whole when the thought crossed my mind that if we could economically empower 815 million people than we would have a powerful engine of growth. If so many people have the additional spending power, it would lift the economy up. In India, if there is good monsoon, farmers earn more and the stocks (shares price) of Hindustan Liver and other companies go up. Everybody benefits from the prosperity. Nobody benefits from keeping the people poor. It is morally imperative to reach out to the poor and improve their living conditions. As economies around the globe, including those of India and China, decelerate or slip into recession, the need of these new engines of economic growth becomes more urgent. </div> <div> </div> <div> <span style="font-size: 14px;"><strong>How can these new engines help accelerate Nepal’s economy? </strong></span></div> <div> I am actually here to learn and the purpose of my talk was also to have a conversation. I have studied India and I am interested in Nepal. I cannot prescribe the exact solution to Nepal. So, my intent was to solicit the inputs and feedback into my idea of new engines so that we can co-create it so that the engines could help Nepal’s economy in some way, either completely or remotely. This is not a complete solution, but of course a stepping stone for the economic growth. </div> <div> </div> <div> <span style="font-size: 14px;"><strong>What kind of response have you been getting on your idea?</strong></span></div> <div> So far, it’s very good. My paper on ‘Reducing Poverty and Accelerating Growth’, which contains this idea, has been included in the syllabus of India’s National University of Juridical Sciences. It was abridged and published on the editorial page of the Times of India, and noted in the records of the Indian parliament. Chief economic Advisor, Minister of Rural Development and other policy makers have appreciated it. </div> <div> </div> <div> <span style="font-size: 14px;"><strong>During your presentation, you underlined the need of integration between formal and informal financial sectors for an effective financial system. Could you please explain it?</strong></span></div> <div> In the formal financial sector, interest rates are low, the coverage is not very good, capital adequacy is low, and non-performing assets are created right from the very beginning. There are other problems too. In the informal sector, interest rates may be high. For the economy to grow, both should complement with each other and work in tandem. </div>', 'published' => true, 'created' => '2014-01-22', 'modified' => '2014-01-24', 'keywords' => 'new business age business visitors news & articles, business visitors news & articles from new business age nepal, business visitors headlines from nepal, current and latest business visitors news from nepal, economic news from nepal, nepali business visitors economic news and events, ongoing busin', 'description' => 'Prof Imon Ghosh is the Director of the Academy of Human Resource Development (AHRD), India’s premier institution specialising in human resources development. Prof Ghosh has a postgraduate degree in Economics with over 28 years of experience in industry and academia. He has identified five prospective new engines of economic growth, which, he claims, can reduce poverty across the developing countries as well as empower the disadvantaged/excluded groups in the developed countries. Recently, he was in Nepal to conduct a leadership workshop.', 'sortorder' => '2333', 'image' => null, 'article_date' => '0000-00-00 00:00:00', 'homepage' => false, 'breaking_news' => false, 'main_news' => false, 'in_scroller' => false, 'user_id' => '0' ) ), (int) 13 => array( 'Article' => array( 'id' => '2488', 'article_category_id' => '201', 'title' => 'Fighting The Winter Blues', 'sub_title' => '', 'summary' => null, 'content' => '<div> </div> <div> <strong>--By TC Correspondent</strong></div> <div> </div> <div> Season often plays a major role in changing human mood. Every season has its own impact on the human mind depending on the nature of an individual. As such, some people find winter gloomy. It is a season of the year when climate is harsh and cold. With the days becoming shorter and nights becoming longer and colder, people who are normally happy also start feeling little down or upset.Many people feel low and drowsy during winters. In winter, people normally lack motivation and energy levels also lessen in comparison to other season. Feeling low during winters is so common and this phenomenon iscommonly referred to as “winter blues”. Winter Blues is sometimes portrayed as depression for it brings in feelings like frustration, sadness, disappointment and indecisiveness in individuals.</div> <div> </div> <div> Winter Blues is a very normal psychological state and there are lots of things one can do to prevent the blues from kicking in and getting self back to normal if they’re already kicked in. You are not helpless against this seasonal sadness. You can fight it with the right foods and supplements, as well as certain types of exercise. There are many helpful tips for dealing with the winter blues.</div> <div> </div> <div> <span style="font-size:14px;"><strong><img alt="" src="/userfiles/images/ls1%20(Copy).jpg" style="float: left; margin: 0px 10px 0px 0px;width: 300px; height: 346px;" />Proper Diet</strong></span></div> <div> Foods that are low in nutrients can deplete your body of energy and can also influence your mood resulting in depression, lack of concentration and mood swings. Avoid refined and processed foods like white breads, rice, and sugar. Try to consume more carbohydrates such as whole wheat breads, fruits and vegetables. Also intake lot of liquid such as juice or water as it will help you remain hydrated. Consumption of healthy foods will provide your body and mind with nutrients, and soothe your blood sugar and energy levels.</div> <div> </div> <div> <span style="font-size:14px;"><strong>Fitness or Exercise</strong></span></div> <div> Exercise is immensely helpful for alleviating stress in your life. Physical activity stimulatesdifferent brain chemicalsthat can make you feel happier and more relaxed. Exercise boosts up energy and helps to remain active throughout the day. It increases your metabolism. Exercise also helps your mind by discharging “endorphins” that improve your mood.</div> <div> </div> <div> <span style="font-size:14px;"><strong>Pamper yourself </strong></span></div> <div> It is a must to take special care of your skin during winter because skin becomes dry and dull in this season. Apply moisturizers to soften your skin. To avoid skin cracks you can also apply glycerin and petroleum jelly before going to bed. Normally, people don’t use sunscreen during winter but this is a wrong tendency. Your skin can get sunburns even during winter. </div> <div> </div> <div> <span style="font-size:14px;"><strong>Follow the Sun</strong></span></div> <div> Deficiency of sunlight can make you feel depressed. You can get rid of winter blues by spending maximum time in sunlight. It is considered equally important as exercise, for it helps in elevating mood. Sun is a rich source of vitamin D. Vitamin D can decrease your chances of catching a cold or flu, enhance the immune system and keep appetite controlled.</div>', 'published' => true, 'created' => '2014-01-21', 'modified' => '2014-01-22', 'keywords' => 'the corporate weekly from Nepal, nepali corporate events – news – interviews – reviews, nepali corporate focus, nepali corporate status and news, news from nepali corporate industry, corporate happenings – events – news from nepal', 'description' => 'Season often plays a major role in changing human mood. Every season has its own impact on the human mind depending on the nature of an individual. As such, some people find winter gloomy. It is a season of the year when climate is harsh and cold. With the days becoming shorter and nights becoming longer and colder, people who are normally happy also start feeling little down or upset.Many people feel low and drowsy during winters. In winter, people normally lack motivation and energy levels also lessen in comparison to other season. Feeling low during winters is so common and this phenomenon iscommonly referred to as “winter blues”. Winter Blues is sometimes portrayed as depression for it brings in feelings like frustration, sadness, disappointment and indecisiveness in individuals.', 'sortorder' => '2332', 'image' => null, 'article_date' => '0000-00-00 00:00:00', 'homepage' => false, 'breaking_news' => false, 'main_news' => false, 'in_scroller' => false, 'user_id' => '0' ) ), (int) 14 => array( 'Article' => array( 'id' => '2489', 'article_category_id' => '150', 'title' => 'Business Briefs (20 - 26 January 2014)', 'sub_title' => '', 'summary' => null, 'content' => '<div> <span style="font-size:14px;"><strong>Toyota Hiace with New Engine</strong></span></div> <div> United Traders Syndicate Pvt Ltd has introduced Toyota Hiace with a new 2.5 litre, 16 valve DOHC Common Rail Turbo Diesel engine. According to the company, the new engine offers a balance between power and fuel efficiency. Apart from the new engine, Hiace comes with features like low engine noise, reduced weight and is highly durable and reliable, says a statement from the company. </div> <div> </div> <div> <span style="font-size:14px;"><strong>Jagdamba Steel’s Salaam Idea Contest</strong></span></div> <div> Jagdamba Steels Private Limited has launched a Facebook contest named Salaam Idea Contest. In this contest, participants are required to upload a picture in which TMT Steel Bar is used for any purpose other than construction or in tool making in the official Facebook Page of Jagdamba Steels. The participant with maximum number of likes will be declared the winner and will win a new Mahindra Rodeo RZ scooter. The contest will run for a month. </div> <div> </div> <div> <span style="font-size:14px;"><strong>Berger Silk Range Launched </strong></span></div> <div> Berger and Jensen Nepal Pvt Ltd has launched Berger Silk premium paint in Nepal. According to the company, Silk offers better shine and colour, and is one of the most luxurious offering from Berger. The company has also claimed that the paint is one of the safest emulsions in market as it is free from heavy metals like lead, mercury and chromium. Silk is endorsed by popular Bollywood actress Katrina Kaif. </div> <div> </div> <div> <span style="font-size:14px;"><strong>Shikhar Cement Gets NS Mark</strong></span></div> <div> Shikhar Cement, a product of Star Cement Industry Pvt Ltd has received NS Certification. Nepal Bureau of Standards and Metrology has awarded the certification based on the quality and manufacturing process of the cement. Star Cement Industry has been manufacturing cement since last eight years. </div> <div> </div> <div> <strong>Avanish Distillery launches Striker </strong></div> <div> Avanish Distillery Pvt Ltd has introduced its first product Striker, apple flavoured liquor in the market. According to the company, Striker is made from clean and pure water, and has passed through strict quality control. The company will also be producing vodkas, rums, whiskeys and gins in near future.</div>', 'published' => true, 'created' => '2014-01-21', 'modified' => '2014-01-22', 'keywords' => 'the corporate weekly from Nepal, nepali corporate events – news – interviews – reviews, nepali corporate focus, nepali corporate status and news, news from nepali corporate industry, corporate happenings – events – news from nepal', 'description' => 'United Traders Syndicate Pvt Ltd has introduced Toyota Hiace with a new 2.5 litre, 16 valve DOHC Common Rail Turbo Diesel engine. According to the company, the new engine offers a balance between power and fuel efficiency. Apart from the new engine, Hiace comes with features like low engine noise, reduced weight and is highly durable and reliable, says a statement from the company.', 'sortorder' => '2331', 'image' => null, 'article_date' => '0000-00-00 00:00:00', 'homepage' => false, 'breaking_news' => false, 'main_news' => false, 'in_scroller' => false, 'user_id' => '0' ) ) ) $current_user = null $logged_in = falseinclude - APP/View/Elements/side_bar.ctp, line 60 View::_evaluate() - CORE/Cake/View/View.php, line 971 View::_render() - CORE/Cake/View/View.php, line 933 View::_renderElement() - CORE/Cake/View/View.php, line 1224 View::element() - CORE/Cake/View/View.php, line 418 include - APP/View/Articles/index.ctp, line 157 View::_evaluate() - CORE/Cake/View/View.php, line 971 View::_render() - CORE/Cake/View/View.php, line 933 View::render() - CORE/Cake/View/View.php, line 473 Controller::render() - CORE/Cake/Controller/Controller.php, line 968 Dispatcher::_invoke() - CORE/Cake/Routing/Dispatcher.php, line 200 Dispatcher::dispatch() - CORE/Cake/Routing/Dispatcher.php, line 167 [main] - APP/webroot/index.php, line 117
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margin: 0px 10px 0px 0px; width: 80px; height: 97px;" />“This budget will be fully accepted by the coming government.”</strong></span></div> <div> <strong>Shanker Prasad Koirala,</strong> Minister of Finance, Industry and Commerce and Supplies, assuring that the current fiscal budget will be happily accepted by the new government to be formed after elections. </div> <div> </div> <div> </div> <div> </div> <div> <span style="font-size: 16px;"><strong><img alt="" src="/userfiles/images/up%20(Copy).jpg" style="float: left; margin: 0px 10px 0px 0px; width: 80px; height: 97px;" />“The Constituent Assembly’s second episode is supposed to trigger economic development.”</strong></span></div> <div> <strong>Upendra Poudyal,</strong> Vice President, of Nepal Bankers’ Association expressing hope that the election would bring in political stability and encourage economic development.</div> <div> </div> <div> </div> <div> </div> <div> <span style="font-size: 16px;"><strong><img alt="" src="/userfiles/images/yk%20(Copy).jpg" style="float: left; margin: 0px 10px 0px 0px; width: 80px; height: 97px;" />“Along with implementation of monetary policy, central banks’ roles have extended to stabilising the financial sector and contributing to the national economic development.”</strong></span></div> <div> <strong>Dr Yubaraj Khatiwada,</strong> Governor of Nepal Rastra Bank mentioning that roles of central banks around the world have increased in the post global economic crisis era.</div> <div> </div> <div> </div> <div> <strong style="font-size: 16px;"><img alt="" src="/userfiles/images/sv%20(Copy)(1).jpg" style="float: left; margin: 0px 10px 0px 0px; width: 80px; height: 97px;" /></strong></div> <div> <span style="font-size: 16px;"><strong>“The private sector will defy strikes.”</strong></span></div> <div> <strong>Suraj Vaidya</strong>, President of Federation of Nepalese Chambers of Commerce and Industry (FNCCI) stating that the private sector will defy any strikes organised by political parties.</div> <div> </div> <div> </div> <div> </div> <div> </div> <div> <span style="font-size: 16px;"><strong><img alt="" src="/userfiles/images/abp%20(Copy).jpg" style="float: left; margin: 0px 10px 0px 0px; width: 80px; height: 97px;" />“Think prosperity, think welfare and shun strikes.”</strong></span></div> <div> <strong>Ajay Bahadur Pradhanang,</strong> President of Nepal Young Entrepreneur’s Forum (NYEF), suggesting political parties to shun politics and prioritise national priorities and common welfare.</div>', 'published' => true, 'created' => '2014-01-26', 'modified' => '2014-01-27', 'keywords' => 'new business age voices news & articles, voices news & articles from new business age nepal, voices headlines from nepal, current and latest voices news from nepal, economic news from nepal, nepali voices economic news and events, ongoing voices news of nepal', 'description' => '“The Constituent Assembly’s second episode is supposed to trigger economic development.”', 'sortorder' => '2346', 'image' => null, 'article_date' => '0000-00-00 00:00:00', 'homepage' => false, 'breaking_news' => false, 'main_news' => false, 'in_scroller' => false, 'user_id' => '0' ) ), (int) 1 => array( 'Article' => array( 'id' => '2477', 'article_category_id' => '202', 'title' => 'A Voracious Reader', 'sub_title' => '', 'summary' => null, 'content' => '<div> </div> <div> <strong>--By TC Correspondent</strong></div> <div> </div> <div> Krishna Gyawali, Secretary at the Ministry of Industries (MoI), is a person who lives life in a simple manner. He describes himself as a positive person and loves to be viewed as a person with a clean-image. He follows Mahamta Gandhi’s philosophy of ‘Simple Living, High Thinking’ and tries to translate it in his lifestyle. Life, according to him, has to be taken easily and no one should be over-ambitious. “A person who is over-ambitious often fails to enjoy the simplicity of life,” says Gyawali. He further adds, “Accepting the people and situation as they are, makes life beautiful.”</div> <div> </div> <div> Gyawali loves to walk and often goes for hiking. He is a nature-lover and loves peaceful places. He is equally fascinated by cinemas and takes reading as his utmost hobby. He loves to spend his leisure time discussing political and social issues with like-minded people. He equally loves to listen to music and regards sleeping to be his favourite time-pass. However, he holds a strong dislike towards playing cards.</div> <div> </div> <div> Gyawali is a voracious reader. He is a fiction lover and believes that fiction has the power to take the reader to a different world. Likewise, he also reads philosophical books and biographies. He loves the work of Shankar Lamichhane and Bhupi Sherchan. But since his childhood, he has never liked Maths and Science. Gyawali’s favourite book is ‘Nepal’s Failed Development’ by Devendra Raj Pandey. Currently he is reading ‘India And Its Contradictions’ by Amatya Sen and Jean Drèze.</div> <div> </div> <div> Gyawali is a balanced person. He finds no difficulty in managing his professional and family life. He believes that the only way to balance these two is to take them together. “Taking work as fun is the way to find peace even while working,” he says. He suggests everyone to have positive attitude towards work to enjoy professional life. </div> <div> </div> <div> Though Gyawali wishes he had some more free time for himself and his family, and though he wishes for two day weekend holidays, he believes that public holidays are way too much in number and should be decreased. </div> <div> </div> <div> Gyawali loves visiting new places. He has been to many places in Nepal and describes Nepal as a place blessed by nature.He recalls visiting beautiful places like- Mustang, Pokhara, Chitwan, Swargadwari etc with his family members. Besides that he has also been to Pakistan and India and remembers these places to be also very beautiful. Gyawali recalls Disney land of Paris to be one of the most fascinating holiday destinations. </div> <div> </div> <div> Gyawali aspires to write two books in his lifetime. He wants to write a novel that reflects the reality of society. He also wants to give it a personal touch by adding elements of his life. Likewise, he wants to write a book that focuses on Nepal’s poverty and prosperity and wants to link it with Nepal’s development. Gyawali considers B.P Koirala, Nelson Mandela and his father to be his inspirational figures.</div> <div> </div> <div> Gyawali believes in Rajnish’s saying of being happy with what you have. His motto in life is to be happy and see everyone around him happy. He encourages everyone to be dutiful towards the nation and asks them to be service-oriented.</div>', 'published' => true, 'created' => '2014-01-20', 'modified' => '2014-01-27', 'keywords' => 'the corporate weekly from Nepal, nepali corporate events – news – interviews – reviews, nepali corporate focus, nepali corporate status and news, news from nepali corporate industry, corporate happenings – events – news from nepal', 'description' => 'Krishna Gyawali, Secretary at the Ministry of Industries (MoI), is a person who lives life in a simple manner. He describes himself as a positive person and loves to be viewed as a person with a clean-image. He follows Mahamta Gandhi’s philosophy of ‘Simple Living, High Thinking’ and tries to translate it in his lifestyle. Life, according to him, has to be taken easily and no one should be over-ambitious. “A person who is over-ambitious often fails to enjoy the simplicity of life,” says Gyawali. He further adds, “Accepting the people and situation as they are, makes life beautiful.”', 'sortorder' => '2345', 'image' => null, 'article_date' => '0000-00-00 00:00:00', 'homepage' => false, 'breaking_news' => false, 'main_news' => false, 'in_scroller' => false, 'user_id' => '0' ) ), (int) 2 => array( 'Article' => array( 'id' => '2502', 'article_category_id' => '91', 'title' => 'NSBM Takes Initiative For Int’l Quality Certification Of Domestic Goods And Services', 'sub_title' => '', 'summary' => null, 'content' => '<div> <strong>--By TC Correspondent </strong></div> <div> </div> <div> Nepal has taken initiative to start the international quality certification of the goods and services produced in the country. Along with the preparation to establish the National Accreditation Focal Point (NAFP), the Nepal Bureau of Standards and Metrology (NSBM) has taken the initiative to start the international quality certification within the nation itself, says, Romi Manandhar , Deputy Director General at the Bureau. Currently different organizations are taking their own initiative for certification.</div> <div> </div> <div> The Bureau is planning to establish NAFP in collaboration with India’s National Accreditation Board for Certification Bodies (NABCB). According to Manandhar, an agreement to this effect was signed between the NSBM and NABCB on last Wednesday (January 22). She also informed The Corporate that NAFP would request NABCB for quality certification. “As there is no separate body for [international] quality certification at the Bureau, we have signed an agreement with NABCB,” she added.</div> <div> </div> <div> The establishment of NAFP will help reduce the international quality certification cost of Nepali goods and services and will ease the entire process of quality certification, according to Manandhar. The NSBM is preparing to make a two-year work plan for NAFP. However, it’s going to take a few months before the NAFP starts working for international quality certification. </div> <div> </div> <div> For the time being, the office of NAFP will be located on the NSBM premises.</div>', 'published' => true, 'created' => '2014-01-26', 'modified' => '2014-01-26', 'keywords' => 'the corporate weekly from Nepal, nepali corporate events – news – interviews – reviews, nepali corporate focus, nepali corporate status and news, news from nepali corporate industry, corporate happenings – events – news from nepal', 'description' => 'Nepal has taken initiative to start the international quality certification of the goods and services produced in the country. Along with the preparation to establish the National Accreditation Focal Point (NAFP), the Nepal Bureau of Standards and Metrology (NSBM) has taken the initiative to start the international quality certification within the nation itself, says, Romi Manandhar , Deputy Director General at the Bureau. Currently different organizations are taking their own initiative for certification.', 'sortorder' => '2344', 'image' => null, 'article_date' => '0000-00-00 00:00:00', 'homepage' => false, 'breaking_news' => false, 'main_news' => false, 'in_scroller' => false, 'user_id' => '0' ) ), (int) 3 => array( 'Article' => array( 'id' => '2496', 'article_category_id' => '37', 'title' => 'Nepal’s Macroeconomic Challenges In 2014', 'sub_title' => '', 'summary' => null, 'content' => '<div> </div> <div> </div> <div> <strong>--Dr Rewat Bahadur Karki</strong></div> <div> </div> <div> After the second democratic movement in FY 2007/08, Nepali economy recorded rosy picture including higher GDP growth of 5.8 percent. However, after the constituent assembly (CA) election in 2009 macroeconomic situation went on declining with low growth mainly due to uncertainty of economic policy and deteriorating investment environment. But pre-last year -2011/12 was exceptional i.e. better along with moderate growth of 4.5 percent, the highest in the last five years primarily because of windfall (exogenous) gain caused by weather and remittance, while last year (2012/13)’s performance is poor with the lowest growth 3.5 percent according to the estimates of Central Bureau of Statistics (CBS), and double digit inflation. </div> <div> </div> <div> Analyzing last year’s situation in brief, efforts have been made to estimate and analyze this fiscal year’ macroeconomic scenario mainly comprising of real sector and price, monetary, fiscal and external sectors based on realistic approach. In FY 2013/14, following six strong bases/assumptions indicate rosy macro economic situation.</div> <div> </div> <div> 1. <span class="Apple-tab-span" style="white-space: pre;"> </span>The current non political government has announced next three year plan (starting from this FY-2013/14) with a growth of 6 percent by fixing the target of upgrading Nepal to developing country from low income country within 10 years as against the UN target of 18 years. The government has announced an ambitious budget in this line too.</div> <div> </div> <div> 2. <span class="Apple-tab-span" style="white-space: pre;"> </span>The government has made its efforts to present the pro-productive and investment-friendly budget instead of loading it populist programmes.</div> <div> </div> <div> 3. <span class="Apple-tab-span" style="white-space: pre;"> </span>The full budget, despite being an election budget, which has come without any disturbance since the first CA election in 2008 AD, has exerted some positive impact in the economy</div> <div> </div> <div> 4. <span class="Apple-tab-span" style="white-space: pre;"> </span>There will be positive impacts in the Nepali economy from the slight improvement (from 3 percent to 3.2 percent in 2013) in world economy and also in neighbouring countries –India and China as forecast by IMF.</div> <div> </div> <div> 5. <span class="Apple-tab-span" style="white-space: pre;"> </span>The last budget as brought by this non-party government in early 2013 gave a clear-cut direction regarding adoption of liberal economic policy and important role of private sector in the economy and thus, has exerted a positive impact.</div> <div> </div> <div> 6. <span class="Apple-tab-span" style="white-space: pre;"> </span>Weather so far is favourable, which will have a positive impact on the economy.</div> <div> </div> <div> Nonetheless, there are following weak bases or assumptions, which will make the economic scenario weak.</div> <div> </div> <div> 1. <span class="Apple-tab-span" style="white-space: pre;"> </span>Although the election government brought an ambitious election budget it will have minimum impact on economic growth and will instead accelerate inflation</div> <div> </div> <div> 2. <span class="Apple-tab-span" style="white-space: pre;"> </span>IMF has forecast that Nepal’s macroeconomic situation would not improve significantly for the coming five years.</div> <div> </div> <div> 3. <span class="Apple-tab-span" style="white-space: pre;"> </span>Since the first CA election, highest growth of 4.5 percent was recorded last year whereas average growth of last three-year plan is less than four percent as against 5.5 per annual average target. </div> <div> </div> <div> 4. <span class="Apple-tab-span" style="white-space: pre;"> </span>Absorptive capacity for capital expenditure is very poor in Nepal.</div> <div> </div> <div> 5. <span class="Apple-tab-span" style="white-space: pre;"> </span>Unfavourable investment climate due to some extremist political parties and their affiliate organizations (which are against investment), and acute problems relating to load shedding, rigid labour laws, infrastructures etc.</div> <div> </div> <div> 6. <span class="Apple-tab-span" style="white-space: pre;"> </span>Results of the second CA election, held peacefully in Marga 2070, has brought in Nepali Congress, credited for introducing liberal economic policy in the 90s, as the largest party. This is expected to bring a positive effect on the economy.</div> <div> </div> <div> Based on the above mentioned strong and weak aspect for the estimate, a midway analysis/estimate, which gives the realistic picture, has been made in this article. During 2013/14, some macroeconomic indicators will remain better than that of last year. GDP is estimated to increase from 4.5 percent to a maximum of 5 percent as agricultural sector, the mainstay of the economy, is estimated to grow 3-3.5 percent due to favourable weather condition. Situation of summer crops, mainly paddy and maize, seems better this year. Production of paddy is estimated to have increased by more than 10 percent, compared to the sharp decline of 14 percent, last year. </div> <div> </div> <div> With regard to non agricultural sector, it will record around 5.5 percent growth, higher than last year’s 5 percent. The manufacturing sector will move up from 1.6 percent to 3 percent as investment climate is expected to improve slightly despite election year. Similarly, trade sector’s growth will shoot up due to the sharp import growth, while other sub-sectors of this sector will remain normal. This growth is supported by high ratio of fixed investment (fixed capital formation) to GDP, which is estimated to rise to 24 percent due to higher capital expenditure as a result of full-fledged budget presented by this non-party government.</div> <div> </div> <div> <img alt="Economy and Policy" src="/userfiles/images/ep2%20(Copy)(1).jpg" style="width: 550px; height: 321px; margin-left: 10px; margin-right: 10px;" /></div> <div> </div> <div> The inflation, which rose almost by two digit i.e. 9.9 percent last year and has increased at the rate of 10percent during the first four months of this fiscal year (2013/14), is estimated go up annually to 12 percent, which will be very close to the level reached in 2008/09 (13 percent). Being an election year, current expenditure has shot up with remarkable rise in election budget along with sharp rise in private and informal expenditure. The sharp rise in salary (18 percent) and provision of Rs. 1000allowance to the government employees, coupled with sharp appreciation of the American Dollar against Rupee, will lead to high inflationary pressure. Despite higher estimated GDP growth this year, higher money supply caused by above factors will lead to high inflation of 12 percent this fiscal year. Containing the inflationary pressure this year is a big challenge to the authorities. </div> <div> </div> <div> In terms of government finance, the non-political government has been able to bring the budget on track despite late in the third quarter of last fiscal year-2012/13. Last year, total revised budget was around Rs.370 billion but due to substantial election expenditure as well as full-fledged budget, this year’s total budget estimate is Rs. 517 billion. Government estimates forecast capital expenditure to rise from around Rs. 55 billion level to Rs. 85 billion this year, while Rs. 78.7 billion has been set aside for financial provision. </div> <div> </div> <div> Although government has given priority to enhance capital expenditure, such expenditure is just 9 percent of the budgeted total capital expenditure in the first five months of this fiscal year (2013/14), while regular expenditure is almost 30 percent in this period. This trend shows that though the capital expenditure will be far below the target, the regular expenditure can cross the target. With the sharp rise in import, the import-based total revenue is estimated to rise by more than 20 percent this year. Thus, in the fiscal sector, increasing the capital expenditure and containing the regular expenditure will remain, as usual, the major challenge for the government. </div> <div> </div> <div> The election will have an expansionary effect on monetary sector. Both money supply (M1 and M2) will rise sharply than last year. Private sector’s credit growth level would be higher this year than the last year. Similarly, full budget will push the deposit growth and the broad money liquidity (M3). The financial sector has been facing instability, as more than a dozen of BFIs have been declared problematic and some even dissolved. Thus, stabilising and making this sector strong by strengthening the supervisory capacity of the central bank and by enhancing good governance in both the BFIs and the regulator, is a major challenge. </div> <div> </div> <div> The depressed share market has improved especially after the CA election’s result positioned Nepali Congress, known for its liberal economic policies, as the lead party in the CA. The share market on the whole will record bullish trend this year compared to last year. </div> <div> </div> <div> External sector in 2013/14 is estimated to register a weak scenario instead of registering any structural improvements. Rise in demand for consumer as well as capital goods, triggered by full-fledged budget and the election expenses, is likely to increase money supply as well as imports. As a result, imports will register sharp growth of 30 percent, and reach about one third of the GDP. Export is estimated to rise by 10-12 percent higher than the last year due to the sharp appreciation of US Dollar and the expected reforms in the export incentive. Due to high import and low export, export-import ratio will go down from current 14 percent to 11 percent, and the trade deficit to one-third of the GDP next year. Consequently, the steady rise in trade deficit will continue. High import growth will make large current account deficit this year. However, increased remittance, which is due to sharp Dollar appreciation, will ultimately lead to BOP surplus in 2013/14 but not in a significant manner. Thus strengthening the external sector, by decelerating the trade deficit through import management and export enhancement, will remain a major challenge. </div> <div> </div> <div> <img alt="Economy and Policy" src="/userfiles/images/ep3%20(Copy)(1).jpg" style="width: 550px; height: 413px; margin-left: 10px; margin-right: 10px;" /></div> <div> </div> <div> Considering the overall macroeconomic scenario and challenges, the new government, which is expected to form soon, should concentrate on economic agenda and in addressing major issues and challenges that Nepal’s economyis confronting. The elected government first of all has to pursuade all major political parties to form common economic agenda, and in setting future direction for the economy. Along with that the government should take initiatives to reform policies for addressing immediate economic concerns. In this regard, priority should be given to creating conducive environment for investment, reducing poverty, unemployment and bad governance. Along with that the government should provide special incentive to exports, energy and agriculture sector. It should focus on capacity enhancement of capital expenditure, containing double-digit inflation and decelerating trade deficit along with strengthening banking system. Nonetheless, along with the government, the private sector and other sections of societies should make collective efforts to strengthen the national economy.</div> <div> </div> <div> <em>(Writer is Expert Member at Securities Board of Nepal.)</em></div>', 'published' => true, 'created' => '2014-01-24', 'modified' => '2014-01-26', 'keywords' => 'new business age economy & policy news & articles, economy & policy news & articles from new business age nepal, economy & policy headlines from nepal, current and latest economy & policy news from nepal, economic news from nepal, nepali economy & policy economic news and events, ongoing economy', 'description' => 'After the second democratic movement in FY 2007/08, Nepali economy recorded rosy picture including higher GDP growth of 5.8 percent. However, after the constituent assembly (CA) election in 2009 macroeconomic situation went on declining with low growth mainly due to uncertainty of economic policy and deteriorating investment environment. But pre-last year -2011/12 was exceptional i.e. better along with moderate growth of 4.5 percent, the highest in the last five years primarily because of windfall (exogenous) gain caused by weather and remittance, while last year (2012/13)’s performance is poor with the lowest growth 3.5 percent according to the estimates of Central Bureau of Statistics (CBS), and double digit inflation.', 'sortorder' => '2343', 'image' => null, 'article_date' => '0000-00-00 00:00:00', 'homepage' => false, 'breaking_news' => false, 'main_news' => false, 'in_scroller' => false, 'user_id' => '0' ) ), (int) 4 => array( 'Article' => array( 'id' => '2449', 'article_category_id' => '91', 'title' => 'World Bank Forecasts 3.8 % Economic Growth Challenges Ahead', 'sub_title' => '', 'summary' => null, 'content' => '<div> </div> <div> <strong>--By TC Correspondent </strong></div> <div> </div> <div> The country will not regain strength in economic growth in 2014 despite a successful second Constituent Assembly (CA) election. </div> <div> </div> <div> The World Bank has estimated Nepal’s economic growth to be not more than 3.8 per cent in 2014, a marginal improvement compared to the 3.6 per cent growth rate in 2013. </div> <div> </div> <div> The data of Global Economic Prospectus 2014 report released by the World Bank clearly showed that the country has still a long way to go to achieve the growth target set by the government. According to the latest monetary policy, the government aims to achieve 5.5 per cent economic growth in 2014. </div> <div> </div> <div> <img alt="" src="/userfiles/images/twb%20(Copy).jpg" style="float: left; margin: 0px 10px 0px 0px; width: 200px; height: 95px;" />The growth forecast by the bank is a blow to the government’s plan of achieving 7 per cent economic growth. The forecast also showed that the government’s plan of improving its status as the developing country from existing Least Developed Country (LDC) is an ambitious plan which is hard to achieve any time soon as the World Bank has projected 4.4 per cent growth rate for 2015 and 5.2 for 2016.</div> <div> </div> <div> Experts, however, say that the country can do better than World Bank’s forecast if it aims at mobilizing more investment from the private sector. </div> <div> </div> <div> World Bank’s projection is based on the data of October 2013, said former finance secretary Rameshore Khanal. “The economic situation was better in December as the agriculture sector witnessed improvement including the production of crops.”</div> <div> </div> <div> We can say the World Bank’s data has underestimated the country’s economic situation to some extent, he claimed. “The country can achieve around 4.5 per cent economic growth in 2014.”</div> <div> </div> <div> We must focus on our major sectors such as agriculture, tourism, water resource if we are to attain speedy economic growth, said economist Dr Chiranjibi Nepal. </div> <div> </div> <div> Slower government expenditure – especially capital expenditure – despite timely monsoon that might boost agriculture growth, is still a big challenge for the country, he opined. “It is expected that the new government will bring policy to accelerate capital expenditure.”</div> <div> </div> <div> Taking the private sector into confidence is the only way out to propel economic growth while policy stability and endorsement of essential laws is a must to boost the private sector’s confidence, according to Khanal. </div> <div> </div> <div> The banking sector is still reluctant to invest in hydro projects and other big projects, he said. The government should identify the problems of banks and foster an environment where all banks can invest in big projects which will help boost economic activities.</div> <div> </div> <div> <img alt="" src="/userfiles/images/mn1%20(Copy).jpg" style="width: 550px; height: 397px; margin-left: 10px; margin-right: 10px;" /></div>', 'published' => true, 'created' => '2014-01-19', 'modified' => '2014-01-26', 'keywords' => 'the corporate weekly from Nepal, nepali corporate events – news – interviews – reviews, nepali corporate focus, nepali corporate status and news, news from nepali corporate industry, corporate happenings – events – news from nepal', 'description' => 'The country will not regain strength in economic growth in 2014 despite a successful second Constituent Assembly (CA) election. The World Bank has estimated Nepal’s economic growth to be not more than 3.8 per cent in 2014, a marginal improvement compared to the 3.6 per cent growth rate in 2013.', 'sortorder' => '2342', 'image' => null, 'article_date' => '0000-00-00 00:00:00', 'homepage' => false, 'breaking_news' => false, 'main_news' => false, 'in_scroller' => false, 'user_id' => '0' ) ), (int) 5 => array( 'Article' => array( 'id' => '2497', 'article_category_id' => '39', 'title' => 'Lomus : Looking Beyond Borders', 'sub_title' => '', 'summary' => null, 'content' => '<div> </div> <div> </div> <div> <strong>--By Gaurav Aryal</strong></div> <div> </div> <div> If the Nepali government allows Nepali ventures to invest in foreign land, Lomus Pharmaceuticals and the group of companies would be one of the top industrial houses to rejoice. Prabal Jung Pandey, Executive Director of the group says that he would be happy when his group would go beyond borders. He wishes to take Lomus Pharmaceuticals Pvt Ltd, the group’s flagship company and one of the leading pharmaceutical companies of Nepal, beyond borders.</div> <div> </div> <div> As a move towards this goal, the company is determined to increase the volume of its pharmaceutical products export to existing markets along with exploring new territories. According to Pandey, the company is exporting its products to four countries in Africa. “We will be exporting to Commonwealth of Independent States (CIS) countries soon. Necessary registration procedures have been completed and we are looking forward to exporting in large quantities,” he shared. </div> <div> </div> <div> Pandey thinks that once the company starts mass export of products, of the current production plants capacities would not be enough. He opines that establishing plants in other countries would be helpful to supply products to meet the demand. However, existing laws restrict Nepali companies from investing in foreign land. “The government should now think that the capable industries in Nepal should be allowed to invest in other countries. If someone is capable of investing abroad, and if s/he is working here successfully and if the profits come back to the country, there is no harm in allowing someone to invest abroad,” Pandey said arguing against the government’s restriction that is hindering the company’s expansion plan. </div> <div> </div> <div> He says that Lomus Pharmaceuticals has reached almost a saturation point in the Nepali market and with very little room for expansion. He further claims that the company leads Nepal’s pharmaceutical market with four per cent of the market share. </div> <div> </div> <table align="left" style="margin: 0px 10px 0px 0px;" width="25"> <tbody> <tr> <td> <img alt="Prabal Jung Pandey, Executive Director, Lomus Group" src="/userfiles/images/cf1%20(Copy)(3).jpg" style="border-width: 0px; border-style: solid; width: 200px; height: 238px;" /></td> </tr> <tr> <td bgcolor="#FFFFFF"> <div align="center"> <div> <strong>Prabal Jung Pandey</strong></div> <div> Executive Director</div> <div> Lomus Group</div> </div> </td> </tr> </tbody> </table> <div> <span style="font-size: 14px;"><strong>Group’s Inception</strong></span></div> <div> Lomus Pharmaceuticals is the first manufacturing venture of the group, started by Pradeep Jung Pandey, Vice President of Federation of Nepalese Chambers of Commerce and Industry (FNCCI) and father of Prabal Jung Pandey. Pandey gives credit to his father for establishing the company and taking it to the pinnacle. </div> <div> </div> <div> The company was established with its first factory at Gongabu in Kathmandu, 25 years ago. In its initial days, it used to produce around 40 pharmaceutical products. And, the group kept on taking gradual and careful steps for its expansion and growth. With a special focus on expanding the market, it kept on increasing the production capacity. A decade ago, a big move was made to establish a 15000 square feet production plant at Gothatar, one of the largest pharmaceuticals production units of the country.</div> <div> </div> <div> Pandeys always have had the belief that one should not be investing in a new venture unless the existing one is sustainable. “We do not believe in jumping into many ventures at once. We try to stabilise the existing one and keep it expanding so that it is self sustaining,” Pandey added.</div> <div> </div> <div> <span style="font-size: 14px;"><strong>The Expansion </strong></span></div> <div> The Pandey family came with its second venture 11 years ago - Cosmos Cement Industries Pvt Ltd. The company could not pick up immediately because of the ongoing armed conflict and the Madhesh movement that followed, recalls Pandey. The company was virtually in a status quo for almost five years after its establishment. The company is currently producing cement by grinding clinkers. However, it has plans to come up with its own clinker producing unit by utilising local raw material – limestone.</div> <div> </div> <div> Pandey reveals that as prerequisite of setting up a clinker production unit, two limestone mines are being excavated in Udaypur district. A feasibility study for setting up the plant has been completed and the essential land for it has been acquired after carrying out IEE and EIA. Likewise, another clinker producing unit is under construction in Janakpur. Initially this plant will be producing 700 tonnes of clinkers daily. Pandey says that once the unit completes its trial phase, its capacity will be increased gradually and is expected to reach 1200 tonnes per day within a year. He says that the plant will be catering to the high demand of cement in the eastern part of the country. Targeting this market, around nine months back, a cement factory with a production capacity of 400 tonnes per day was installed in Biratnagar. Similarly, one factory is under operation in Janakpur. The current expansion is being made with a total investment of Rs 1.5 billion.</div> <div> </div> <div> When the second generation businessmen in the Pandey family joined the business, set-up by their father, they took the business to new and varied sectors so that the three brothers can look after one of the sectors each. Now the group is involved in banking and financial sector, mining, cement production and pharmaceuticals.</div> <div> </div> <div> Pandey says that the group is willing to take pharmaceuticals and cement production companies to the next level in the near future. He reveals that the group is also planning to come with Ayurvedic medicines soon. These medicines will be branded uniquely and will be sold in the global market. Currently the group is employing 300 people in its group of companies other than financial institutions.</div> <div> </div> <div> <span style="font-size: 14px;"><strong>Branding Consolidation </strong></span></div> <div> The parent company of the group, Lomus Pharmaceuticals has become a well known brand name in the pharmaceutical industry. Pandey says that the recognition the company has got is because of the quality that the company has promised and delivered in its range of products. He says that the company does not compromise on quality and believes that products should be easily available at affordable price.</div> <div> </div> <div> Similarly, Tej Cement is a popular brand in the eastern Nepal. Popularity of this brand has encouraged the company to expand its production unit and add new factories. However the group has not yet given serious thoughts of branding the entire group under a consolidated name. Pandey hints the possibility of it in the future but not anytime soon.</div> <div> </div> <div> Pandey shares that all of the companies under the group are growing annually at a healthy rate of 20 per cent in average. The group registers an annual turnover of Rs 3 billion per year. He is quite satisfied with this progress but sees room for improvement. He adds, “I will be the happiest entrepreneur if we can make our name popular worldwide. I dream of making Lomus an international company and a brand name recognised everywhere.”</div> <div> <hr /> </div> <div style="text-align: center;"> <span style="font-size: 16px;"><strong>Core Sectors of the Group</strong></span></div> <div> </div> <div> <span style="font-size: 14px;"><strong>Pharmaceuticals</strong></span></div> <div> Pharmaceutical is one of the core areas of the group and the parent business for it. Lomus Pharmaceuticals Pvt Ltd is one of the market leaders in Nepal’s pharmaceuticals market. This company produces 400 products. However, its factory is operating for just 12 hours a day due to power supply problem. Apart from supplying its products to the general medicine market, the company also supplies to government.</div> <div> </div> <div> Cement and Mining Industry Cement production is one of the strong sectors of the group. The group has allocated two mining companies for its cement industries. Cosmos Quarries Pvt Ltd and Udaypur Mineral Tech are taking up the responsibility of limestone mining. However, the group is open for exploring new area for mining. Pandey sees potentials in copper and iron mining but transportation and electricity are the pre-requisites which he expects that the government should ensure.</div> <div> </div> <div> <span style="font-size: 14px;"><strong>Financial Sector</strong></span></div> <div> The group has presence in the banking and financial sector with three companies as one of the promoter shareholders. International Leasing and Finance Company Limited had a plan for upgrading to a commercial bank but could not do so in the lack of legal provision to do so. However, it has now plans to go for merger.</div> <div> </div> <div> Pandey says that merger talks are going with few financial institutions and he expects that these talks will conclude within the next five months. Apart from it, the group is involved with Citizens Bank International and Shikhar Insurance Company Limited. Similarly, the group has a presence in merchant banking sector through its Lomus Investment Co Pvt Ltd.</div>', 'published' => true, 'created' => '2014-01-24', 'modified' => '2014-01-26', 'keywords' => 'new business age corporate focus news & articles, corporate focus news & articles from new business age nepal, corporate focus headlines from nepal, current and latest corporate focus news from nepal, economic news from nepal, nepali corporate focus economic news and events, ongoing corporate foc', 'description' => 'Lomus Pharmaceuticals and the group of companies take every step carefully while investing in a new sector. The group, if allowed by the law, looks forward to invest abroad.', 'sortorder' => '2341', 'image' => null, 'article_date' => '0000-00-00 00:00:00', 'homepage' => false, 'breaking_news' => false, 'main_news' => false, 'in_scroller' => false, 'user_id' => '0' ) ), (int) 6 => array( 'Article' => array( 'id' => '2495', 'article_category_id' => '42', 'title' => 'Nepse Legs Up For The Next Bull Run', 'sub_title' => '', 'summary' => null, 'content' => '<div> <strong>--By Bikram Chitrakar</strong></div> <div> </div> <div> The Stock market of Nepal witnessed a strong unusual movement after completion of the second elections for Constitutional Assembly (CA) and announcement of the results. Investors’ sentiment was purely bullish and Nepse registered high trade volumes and frequent circuit breaks in the trading platform. The benchmark Nepse index skyrocketed by 150.07 points or 18.60% taking the secondary market to a 5-year high of 806.82 on December 18, 2013. The index was hovering around the same level in November 11, 2008. The final results of the CA elections further stimulated the stock market which had already leaped after the elections were over. Besides hope of political sustainability has improved the bullish sentiment leading the market to gain nothing like before. </div> <div> </div> <div> The gaining momentum has been supported by excess liquidity in the banking system despite the central banks several rounds of reverse repo operations with an aim of absorbing the excess liquidity from the market. Liquidity available with the investors at this time has also helped to boost the market as average daily turnover in Nepal Stock Exchange has now crossed Rs. 500 million. Likewise lack of potential investment opportunities in the real sectors has flooded fresh additional investments in the stock market. </div> <div> </div> <div> Following the excess liquidity in the financial system, cut in interest rates for deposit as well as lending by Banks and Financial Institutions (BFIs) and relative flexibility in share margin loan have also underpinned the recent growth in the country’s stock market. However informally it has been heard that Nepal Rastra Bank, the regulator of the country’s banking industry, is mooting introduction of some rigid measures on loan against share certificate. If so is the case, there may be some corrections in the market. </div> <div> </div> <div> <span style="font-size: 14px;"><strong>Performance by Sector</strong></span></div> <div> Following the previous trend, insurance sub-index topped the gaining chart with increase of 280.11 points for the period to rest at 1997.51. Hydropower sub-index added 248.03 points or 13.55% to settle at 1831.09. In the mean time, Hotel sub-index moved higher by 195.02 points to rest at 1100.64 on December 18, 2013. The Banking sub-index stepped up 192.84 points or 23.19 % to close at 831.66 while the sub-index of Development Banks registered a gain of 97.25 points for the period. The ‘Others’ sub-index accumulating the heavy scrip of Nepal Telecom surged 54.03 points to settle at 822.38.</div> <div> </div> <div> Sensitive index that measures the performance of 120 ‘A’ class companies listed at the secondary market moved higher by 28.78 points or 15.70% to settle at 183.28 while the float index calculated on the basis of real transaction of listed securities went uphill by 8.71 points or 16.37% to close at 53.21. Total of Rs. 7390 million turnover was realized during the review period from the business of 21.16 million units of share via 48,940 transactions.</div> <div> </div> <div> During the period of November 24 to December 18, 2013, commercial banks accounted the most of the turnover covering 70.84% of the total. In the mean time, Insurance sector covered 11.04% and development bank 7.71% followed by hydropower sector with 7.06% and the rest of the sectors made up the remaining portion. </div> <div> Technically, the Simple Moving Average (SMA) has dominated both 30 days SMA and 200 days SMA. Unusual strong growth in index has invited correction at this level. Hence cautious observation is required at this level to determine support and resistance regions. </div> <div style="text-align: right;"> <em>(Chitrakar is a Stock Analyst with Jamb Technologies Pvt Ltd.)</em></div> <div> <img alt="Stock taking" src="/userfiles/images/stock%20(Copy)%20(Copy).jpg" style="width: 550px; height: 208px; margin-left: 10px; margin-right: 10px;" /></div>', 'published' => true, 'created' => '2014-01-24', 'modified' => '2014-01-26', 'keywords' => 'new business age stock taking news & articles, stock taking news & articles from new business age nepal, stock taking headlines from nepal, current and latest stock taking news from nepal, economic news from nepal, nepali stock taking economic news and events, ongoing stock taking news of nepal', 'description' => 'The Stock market of Nepal witnessed a strong unusual movement after completion of the second elections for Constitutional Assembly (CA) and announcement of the results. Investors’ sentiment was purely bullish and Nepse registered high trade volumes and frequent circuit breaks in the trading platform. The benchmark Nepse index skyrocketed by 150.07 points or 18.60% taking the secondary market to a 5-year high of 806.82 on December 18, 2013. The index was hovering around the same level in November 11, 2008. The final results of the CA elections further stimulated the stock market which had already leaped after the elections were over. Besides hope of political sustainability has improved the bullish sentiment leading the market to gain nothing like before.', 'sortorder' => '2340', 'image' => null, 'article_date' => '0000-00-00 00:00:00', 'homepage' => false, 'breaking_news' => false, 'main_news' => false, 'in_scroller' => false, 'user_id' => '0' ) ), (int) 7 => array( 'Article' => array( 'id' => '2494', 'article_category_id' => '41', 'title' => 'Alternative Energy Replacing Traditional Ones', 'sub_title' => '', 'summary' => null, 'content' => '<div> </div> <div> </div> <div> <strong>--By Suraksha Adhikari</strong></div> <div> </div> <div> A country endowed with immense hydropower potential has been facing an acute energy crisis. Despite Nepal’s potential wealth in solar energy and hydropower the development of these energies has not kept pace with population growth. The little renewable energy that has been harnessed is poorly distributed due to crumbling infrastructure that is incapable of delivering, for example, parts for wind turbines. </div> <div> </div> <div> More than half of the country’s households - almost all in urban and semi-urban areas - are connected to the national electricity grid. But 80 percent of the population is rural, and in these areas, less than one-third has electricity. With grid extension to the country’s hilly and mountainous areas prohibitively expensive, officials are looking to off-grid renewable energy alternatives. </div> <div> </div> <div> Govinda Raj Pokharel, Executive Director of Alternative Energy Promotion Centre (AEPC) said, “We are using alternative energy mainly for rural electrification that provides an easy access of clean energy to rural area. But now we are moving to urban areas with the use of solar and utilization of bio degradable waste.”</div> <div> </div> <div> Talking about the consumption of renewable energy in Nepal he said, “Quantity-wise, renewable energy is covering 1 per cent of total population of the country. Our energy comes from bio-mass which is consumed by around 87 per cent of the total household.” But in terms of number of population around 14 percent of total population is using renewable energy to get light, Pokharel added.</div> <div> </div> <div> Alternative Energy Promotion Center is a national focal government organization for promoting renewable and alternative energy technologies in Nepal. AEPC is acting as an intermediary institution between the operational level i.e. NGOs/private promoters of renewable energy and the policy decision levels in relevant ministries. AEPC's activities include renewable energy policy formulation, planning and facilitating the implementation of the policies/plans, standardization, quality control and monitoring. </div> <div> </div> <div> Pokharel further added the role of alternative energy promotion sector is mainly to promote the use of renewable energy and our approach is public private partnership. “We work jointly with private organizations that are responsible to deliver and supply energy to the people and we work to fulfill demands by creating awareness and other activities, ”he said. </div> <div> </div> <div> <span style="font-size: 14px;"><strong>Resource Potential</strong></span></div> <div> There are abundantly available sources for mini and micro hydro power, enough solar radiation, good potential of wind in selected areas and other biomass based resources to meet the energy need of our country.</div> <div> </div> <div> Mini-Micro and Pico-hydro up to 100kW can be developed in a short period of time to electrify the villages. The existing total installed capacity of micro hydro projects is about 20 MW. However, altogether mini micro-hydro can generate about 10,000 MW of power in Nepal. </div> <div> </div> <div> Nepal receives ample solar radiation as it is located in favorable latitude. With National average sunshine hours of 6.8/day and solar insolation intensity of about 4.7 kWh/m2/day, there is a huge potential for large-scale development of solar energy technologies in the country. Presently solar water heater systems have been fully commercialized and have been widely installed in the country. </div> <div> </div> <div> About 1.5 million households can install domestic biogas plants based on animal dung. Another potential application of biogas technology in Nepal is to manage household solid waste in urban and peri-urban areas. There is also a significant potential of medium sized biogas plants suitable for SMEs, mainly in the dairy farms, poultry farms where biogas can be used directly for heat or for electricity generation that can replace diesel or other forms of fossil fuels. The other biomass waste having energy potential includes municipal solid waste. Over 1,350 tons of solid waste is generated across the 58 municipalities in Nepal. About 70% of municipal (solid) waste is biodegradable, and this waste can be used to generate energy. It is estimated that 50 million kWh can be generated per year from the total waste generated in these municipalities.</div> <div> </div> <div> <span style="font-size: 14px;"><strong>Why Alternative Energy in Nepal?</strong></span></div> <div> Focusing on the importance of alternative energy Pokharel said that alternative energy is important in Nepal mainly to address and reduce development disparity considering the people in rural areas also should have clean light as the people enjoy in urban areas. </div> <div> </div> <div> Similarly Nepal has diversified land structure from plain to high Himalayas and also settlement pattern is scattered and sparse. National grid extension in some places is not economically feasible. Big hydro projects need a huge investment and all the petroleum products consumed in Nepal are imported from India or overseas in the refined form for direct consumption, which is causing the economic burden for the country. </div> <div> </div> <div> The high potentiality of the renewable energy resources available in the country is the most appropriate option for Nepal. It also helps to reduce the dependency on the traditional biomass energy resources and fossil fuels and to manage the energy crisis of the nation. This ultimately helps to minimize the degradation of the environment.</div> <div> </div> <div> Alternative energy helps in enhancing energy security and promoting energy mix in the country. </div> <div> </div> <div> <span style="font-size: 14px;"><strong>Cost Effective</strong></span></div> <div> The experts of alternative energy claim that the alternative energy use costs cheaperthan traditional sources. Though initial investment cost of alternative energy technologies are expensive compared to the other traditional sources of energy. In the long-run alternative energy is mostly cheaper than the traditional sources because alternative source is almost free but you have to pay always for traditional source. Hence, if the financial mechanism can be developed in such a way that users can pay in installment basis by mortgaging house, vehicle, etc., than users will not feel initial financial burden.</div> <div> </div> <div> <span style="font-size: 14px;"><strong>Popularity of Alternative Energy</strong></span></div> <div> In Nepal, depending upon the geographical and type of energy required, solar is popular for lighting purpose, mini micro hydro is popular in hilly areas, biogas for cooking purpose. Around 700,000 households use biogas, 500,000 use solar and various other forms of alternative energy.</div> <div> </div> <div> There is no doubt regarding the fact that solar energy based technologies such as Solar Photovoltaic or Solar Thermal systems are the best substitutes. Right now, in the urban sector, individual households are opting for small-scale Solar PV solutions for domestic use. Even institutions like banks, corporate offices, and hospitals have adopted larger size system to meet their immediate energy needs. Besides Solar PV, which generates direct electricity; Solar Thermal systems also play a crucial role in minimizing use of electricity from national grid as well as reduce dependency on imported petroleum products.</div> <div> </div> <div> “Solar can now compete with hydropower,” Pokharel added. We are targeting to provide cooking stoves to 2 million and lighting to one million, he said. </div> <div> </div> <div> <span style="font-size: 14px;"><strong>Issues in this sector</strong></span></div> <div> Though alternative energy sources are focused on electrifying rural areas, Pokhrel says that the efforts made are not sufficient. There is still lack of alternative energy usage in the rural areas, which needs to be fulfilled. </div> <div> </div> <div> “We are not able to provide full financing for the installation of the alternative energy systems and this affects poor and rural people,” he added.</div> <div> </div> <div> Elaborating on the effort of AEPC in producing energy from sugarcane extracts, Pokharel said, “We are also trying to produce energy blending ethanol in petrol but lack of mandatory policy from government has restrained this effort. At least 5 per cent of Nepal petrol consumption can be replaced with this.”</div>', 'published' => true, 'created' => '2014-01-24', 'modified' => '2014-01-26', 'keywords' => 'new business age sectoral news & articles, sectoral news & articles from new business age nepal, sectoral headlines from nepal, current and latest sectoral news from nepal, economic news from nepal, nepali sectoral economic news and events, ongoing sectoral news of nepal', 'description' => 'A country endowed with immense hydropower potential has been facing an acute energy crisis. Despite Nepal’s potential wealth in solar energy and hydropower the development of these energies has not kept pace with population growth. The little renewable energy that has been harnessed is poorly distributed due to crumbling infrastructure that is incapable of delivering, for example, parts for wind turbines.', 'sortorder' => '2339', 'image' => null, 'article_date' => '0000-00-00 00:00:00', 'homepage' => false, 'breaking_news' => false, 'main_news' => false, 'in_scroller' => false, 'user_id' => '0' ) ), (int) 8 => array( 'Article' => array( 'id' => '2492', 'article_category_id' => '46', 'title' => '“Situation Is Difficult In Nepal For The Manufacturing Sector To Prosper”', 'sub_title' => '', 'summary' => null, 'content' => '<div> </div> <div> </div> <div> <span style="font-size: 16px;">Kedia Organisation, the oldest and one of the most talked about business conglomerates of the country, has been practicing a synergistic combination of family ownership and professional management since 1909 A.D. Named after their fathers, Late Sundarmal Kedia and Late Ram Kumar Kedia, it was surely a turning point for the Kedias when the first foundation stone of their present day multimillion conglomerate was laid in the form of a small cloth trading business. The group envisions reaching the zenith and being a premium conglomerate through outstanding service performance and clear business vision. Manoj Kedia, Executive Director of Kedia International and Vice president of the Confederation of Nepalese Industries (CNI), talks with New Business Age’s Homnath Gaire and Upashana Neupane on the group’s journey in Nepal so far, role of the private sector in nation’s development and the group’s future plans. Excerpts:</span></div> <div> </div> <div> <span style="font-size: 14px;"><strong>How is the history of Kedia Group different from the general history of Nepal’s private sector?</strong></span></div> <div> Trading business in Nepal started along with the Kedia Family. Initially, Kedia family started its business as a cloth merchant with stores in Birgunj and Kathmandu that sold clothes imported from India. With initiation of Late Brij Lal Kedia we gradually expanded our business to food grains trading. It started small but as time progressed it expanded across Nepal. </div> <div> </div> <div> He used to collect food grains from every corner of the country and supply them to even remote areas that lacked transportation facilities. For the first time in Nepal, he fixed prices of food grains and at a certain point, even the Khadya Sansthan (government owned Nepal Food Corporation) fixed food grain prices by consulting him. Later he established rice mills, dal mills and many more food grain factories. He established Nepal’s first modern rice mill, Bhagwati Rice Mill. </div> <div> </div> <div> Later Shankar Lal Kedia expanded foothold in the manufacturing sector. He established factories related to steel furniture, stainless steel utensils, textile, umbrella, socks, wheat flour, corrugated steel, copper utensil etc. During that time the steel, textile, and corrugated sheet industries were pioneers in their respective fields in Nepal and they are the backbones of the present day Kedia Organisation.</div> <div> </div> <div> At the same time we also entered in general merchandising sector by importing goods from third countries and bulk-traded them in local market. Our imports included cloth, electronics, food items, medical equipment, household products, hardware, cement, sugar, and edible oil among others. We also exported rice to Tibet and pulses and lentils to Sri Lanka, Bangladesh and to some European countries. </div> <div> </div> <div> We established Caltex Company, a petrol pump agent in Nepal, and this is still in operation as Kedia Auto in Birgunj. </div> <div> </div> <div> Kedia Group also is one of the first industrial houses to advertise its products. We sponsored the “Sundar Sushil Sangeet”, a popular song-on-request programme aired on Radio Nepal, to promote our products. </div> <div> </div> <div> Amid this long list of successful ventures, we also had some disappointing projects. Though we had bagged the license to launch Coca Cola in Nepal, we had to drop the project in the last minute due to some partnership problems. In 2015 B.S. we had to give up the launch of an iron steel factory project, even though necessary equipment and machinery were imported, after King Mahendra dissolved the democratic government and assumed power. Similarly in 2036-2037 B.S. we had to pull back from establishing the Kedia Paper Industry</div> <div> </div> <div> <span style="font-size: 14px;"><strong>What is the present status of Kedia Group and how is it different from the overall situation of the private sector?</strong></span></div> <div> Despiteour engagement in diverse sectors, manufacturing sector is our major area. We have established ourselves in the cement, carpet, and the sugar industry. Recently we have started manufacturing PVC carpet and are upgrading production capacity of Indusankhar Sugar Mill, Nepal’s one of the oldest and leading sugar industries. </div> <div> </div> <div> In the past we invested in the banking and financial sector. We had invested in Siddhartha Insurance, Siddhartha Capital and Siddhartha Bank. </div> <div> </div> <div> Kedia Group has made some significant investment in the service sector and presently we run several schools and hospitals in the country. </div> <div> </div> <div> Along with bulk trading, Kedia Group has once invested in housing projects. And as part of its plan to expand its foothold, the group has made small investments in other sectors like hydropower for getting acquainted with them. </div> <div> </div> <div> <span style="font-size: 14px;"><strong>How is this conglomerate with interests in so diverse fields being managed and controlled?</strong></span></div> <div> We have a joint family and we have divided our tasks within our family members for various sectors. We work in our respective sectors. Our father’s generation is also actively involved in managing the business. </div> <div> </div> <div> In the recent years, Nepal’s private sector is diverting investments to service and trade sector from the manufacturing sector. What is the reason?</div> <div> Nepal is a market of its own kind. Situation is difficult here for the manufacturing sector to prosper. Power shortage, a major problem faced by this sector, has been one of the major causes for such decrease in investment in such sectors. Open import is another hindering factor. Nepali market is crowded with cheap products from China and India and it is very hard for domestic products to compete with imported products in the market, especially in terms of cost. As such, only ethnic Nepali products can sustain in the local market.</div> <div> </div> <div> Lack of skilled and productive manpower, unfriendly labour environment and decrease in agricultural production that has triggered increased imports of agro products, are other factors that are affecting the growth of the manufacturing industries in Nepal. </div> <div> </div> <div> <span style="font-size: 14px;"><strong><img alt="Manoj Kedia" src="/userfiles/images/inter1%20(Copy)(1).jpg" style="float: left; margin: 0px 10px 0px 0px;width: 300px; height: 321px;" />You are a vice-president of Confederation of Nepalese Industries (CNI) that specializes in the promotion of industries rather than trading. Why is not CNI doing something to put a stopper on the deindustrialization of Nepali economy?</strong></span></div> <div> This accusation is wrong. CNI has unwavering vision and mission to achieve. It was established to address private sector’s problems by promoting liberal policies.The organization believes that the country can achieve prosperity via private sector’s involvement in development activities. It has always focused on facilitating the activities of private sector.</div> <div> </div> <div> In reality, many of the genuine issues and demands raised by CNI for promoting private sector remain unaddressed due to concerned authorities’ reluctance. I am pretty confident that the private sector can make tangible impact if issues and demands raised by CNI are endorsed by the parliament.</div> <div> </div> <div> <span style="font-size: 14px;"><strong>You said Kedia Group is also entering the power generation sector. Would you please elaborate on this?</strong></span></div> <div> The entire industrial sector has been suffering from power deficit. Industrial sector incurs billions of losses due to it. It is a national problem and it is obvious that major business houses want to engage in the power generation business.</div> <div> </div> <div> Presently power/energy costs have increased steeply. Simultaneously, demand for power has also increased. Hydropower has high market potential. As we are aware, due to our inability to use our energy resources, we are purchasing energy from neighbouring countries in various forms like petrol, diesel and oil. Most of our financial resources, which we could have invested in productive sectors, are spent in purchasing energy. </div> <div> </div> <div> Hydropower projects need lots of investment. We need laws and policies friendly enough to attract FDI in that sector. So far, Kedia organisation has not made substantial investment in this sector. We have invested as shareholder in this sector to study the sectoral behaviour. </div> <div> </div> <div> <span style="font-size: 14px;"><strong>Why is the Kedia Group not generating power through cogeneration from its sugar mill and supplying it to the national grid?</strong></span></div> <div> We can produce 10 Mega Watt of electricity from cogeneration, that too when the country faces maximum power shortage. To produce power, we need huge investment for developing infrastructure. If such infrastructures are developed in all industries across the nation, 30 to 40 Mega Watt of electricity can be produced. It is far less costly than thermal power plants and other alternative means and takes less time to establish also. </div> <div> </div> <div> However, huge investment is required to develop necessary infrastructure for such a project. As policy keeps changing, it entails huge investment risks. Such risk can be only taken if the state formulates conducive policy and provides special incentives. Otherwise, as an entrepreneur, I would not risk my investment.</div> <div> </div> <div> Presently, waste from the paper mill remains unexploited. If government supports in setting up power plants, such wastes can be used to generate multifuel whenever the nation needs. </div> <div> </div> <div> <span style="font-size: 14px;"><strong>Despite being a major player in agro-processing industry why is the Kedia Group not building backward linkages with the farmers?</strong></span></div> <div> We have been coordinating with farmers. We regularly provide them with various skill-based trainings and loans too. We have set up Sugar Mill in Sarlahi district, the major sugarcane growing centre of the country, and it is an instance that reflects how we work in coordination with farmers. In addition to that, we have been actively engaged with farmers in the dairy business as well.</div> <div> </div> <div> <span style="font-size: 14px;"><strong>Now that the Constituent Assembly elections are over, how do you visualize the business scenario in the days ahead?</strong></span></div> <div> Democracy has to be institutionalised. Political issues have been settled and that marked the crossing of transitional politics. The rhetoric of transition politics should not be repeated and we should be optimistic of economic growth in the days ahead. Kedia Group is very hopeful of contributing to the overall development of the country.</div> <div> </div> <div> During the last half-decade, there have been many positive changes in the political regime. With the successful completion of second Constituent Assembly election, it’s time to focus on institutionalising the achievements.</div> <div> </div> <div> Now, political parties should prioritize national interests by brushing aside their partisan and personal interests and focus on formulating collective goals to achieve national economic growth. </div> <div> </div> <div> It’s an achievement for the private sector that almost all major political parties consider it as the backbone of the national economy. Unity in diversity is our speciality and Nepali leaders should translate this mantra into reality. They should prioritize economic prosperity in their political agenda. Nepali business won’t get good reputation in international market unless our economy is strong and self-reliant. It is possible and all we need is sincere commitment from our politicians.</div> <div> </div> <div> <span style="font-size: 14px;"><strong>What agenda would you like the upcoming government to focus on for the progress of business-economic field? </strong></span></div> <div> The government should show readiness to address some pending economic agenda. It should create environment whereby industries can be set up in every district. Local bodies should be given authority for deciding utilization of local resources. The central government should act as intermediary to mitigate problems faced by the private sector at the local level.</div> <div> </div> <div> Above all, state should ensure political stability and strong governance and ensure their commitment made in the last election to the general public of drafting and promulgating the new constitution within the promised time frame. Economic growth of the nation can sustain and progress only if the state and political actors act as strong catalyst and continue propelling it. </div> <div> </div> <div> <span style="font-size: 14px;"><strong>The manufacturing index for the last fiscal year and the trade statistics for the first four months of the current fiscal year show some positive indications of improvement over the previous year. How do you interpret this information?</strong></span></div> <div> It is too early to comment on this. We do not see any drastic changes in the manufacturing sector over the last fiscal year. There are several reasons for the said improvement of manufacturing index. Firstly there was comparatively better supply of electricity, and secondly political realm remained stable during the last fiscal year. Dollar revaluation also contributed much for the better performance in the exports trade. We had less volume of imports, that is the domestic market imported fewer consignments in the last fiscal year, and this helped show improvement in the growth rate of the trade deficit. But we should remember that the trade deficit is still increasing though in slower rate.</div> <div> </div> <div> <span style="font-size: 14px;"><strong>Where do you see Kedia Group of Industries in five years of time?</strong></span></div> <div> In five years, we envision our involvement in diverse business. We will be engaging in the infrastructure, tourism, power and in the manufacturing sector. All we need is a strong and stable government, business-friendly policies and fair competition between private sector players. The domestic market has huge potentials and Kedia Group looks forward to tap and invest in them to create more jobs in the domestic market itself.</div>', 'published' => true, 'created' => '2014-01-24', 'modified' => '2014-01-24', 'keywords' => 'new business age interview news & articles, interview news & articles from new business age nepal, interview headlines from nepal, current and latest interview news from nepal, economic news from nepal, nepali interview economic news and events, ongoing interview news of nepal', 'description' => 'Kedia Organisation, the oldest and one of the most talked about business conglomerates of the country, has been practicing a synergistic combination of family ownership and professional management since 1909 A.D. Named after their fathers, Late Sundarmal Kedia and Late Ram Kumar Kedia, it was surely a turning point for the Kedias when the first foundation stone of their present day multimillion conglomerate was laid in the form of a small cloth trading business.', 'sortorder' => '2337', 'image' => null, 'article_date' => '0000-00-00 00:00:00', 'homepage' => false, 'breaking_news' => false, 'main_news' => false, 'in_scroller' => false, 'user_id' => '0' ) ), (int) 9 => array( 'Article' => array( 'id' => '2478', 'article_category_id' => '153', 'title' => 'Rainbow Trout Business In Nepal', 'sub_title' => '', 'summary' => null, 'content' => '<div> </div> <div> <strong>--By Rashika Pokharel</strong></div> <div> </div> <div> Rainbow Trout fish farming is a profit generating business, which has a wide scope in the Nepali market. Rainbow Trout, one of the many species of trout fishes, is a freshwater fish of the salmon family. Rainbow Trout fish have layers of red, green and blue colours glinting from their scales and get their name from this particular quality. This fish grows in cold and fresh running water. Climatic conditions of Nepal are suitable for the farming of this fish and correspondingly many entrepreneurs have capitalized on this fact. Nepali fish lovers have admired delicacies of this fish while appreciating various health benefits it has. </div> <div> </div> <div> The fish is not native to Nepali waters. For the first time, it was imported for cultivation from Japan in 1988. Due to favourable environmental condition, production of this fish flourished since then. Recently, private sector has introduced new technologies for producing and packaging it. In Nepal, it is generally perceived that fish farming is possible only in the Terai region of the nation. However, recent developments made in fish farming techniques, has caused a paradigm shift in this sector. Now, Rainbow Trout farming is possible in Hilly areas as well.</div> <div> </div> <div> Rainbow Trout farming was first started in Nuwakot. It has been able to bring considerable changes in economic status of the farmers. Even though the fish if produced in multiple places across the nation, the production has not been able to meet market demands. The fish is available in few department stores in Kathmandu. And sometimes consumers are found to be importing it as well. Comparatively the fish is costly than other species of fishes available in Nepali market. “A kg of rainbow trout fish costs Rs. 1400,” says Rajendra Khadka, owner of Budanilkantha Riverside Restaurant, that sells this fish by producing in its own facility inside the restaurant premises.</div> <div> </div> <div> <span style="font-size:14px;"><strong>The Healthiest Choice</strong></span></div> <div> Rainbow trout is rich in protein which helps to lose weight and retain lean muscle mass. It contains Omega-3 fatty acid, which helps to reduce blood pressure and helps to overcome depression. This acid also reduces risks of cardiovascular disease, hypertension, high blood cholesterol and certain types of cancer. It contains minerals, iron, calcium, zinc and vitamins including- vitamin B complex and Vitamin D. Delicious and readily available in most grocery stores, Rainbow Trout is also low in sodium and calories.</div> <div> </div> <div> Rainbow trout has comparatively low-fat level and is low in cholesterol too, which makes it a good protein substitute for meats like beef, pork and lamb that contain significantly higher amounts of saturated fat and cholesterol.</div> <div> </div> <div> <span style="font-size:14px;"><strong>Production</strong></span></div> <div> Rainbow trout production is expensive. Rs 20 million investment is required to produce 10 tons of Rainbow Trout and Rs 10 million is required to produce 5 tons. The Investment can be made on the basis of producer’s need and financial capabilities. Like other business field, this field has its own bottlenecks and risk factors. “Rainbow trout production is not easy. The sustenance of Rainbow Trout farming is difficult to manage both in terms of monetary and labour cost,” says Khadka.</div> <div> </div> <div> Farmers buy baby Rainbow Trout and rear them until they grow to a standard weight. According to Kapil Thapa, Manager at Nepal Rainbow Trout Farmers Association, the standard weight of a rainbow trout for selling is 200 gram. It takes a year for the baby trout to grow up and gain this weight. </div> <div> </div> <div> Rainbow trout farming can be done in any season. However, “The most favourable season for its farming is from November to April,” says Mahendra Ghorasini, Central Vice-president of Himalayan Trout Association. The suitable temperature for an adult Rainbow Trout to grow properly is 10-14 degree Celsius and 9-12 degree Celsius for the smaller one. This species of the fish require clean, cold and continuously flowing water to sustain and grow.</div> <div> </div> <div> <span style="font-size:14px;"><strong>Problems</strong></span></div> <div> Rainbow Trout farming is done by a very few farmers because its production is expensive as well as difficult. A single rainbow trout farm setup requires continuous flowing water, a cemented pool and a large area. Though this fish is popular, the popularity is limited to a very few selected groups and is yet reach the mass market. Due to high cost, the popularity is limited to upper middle and high-class people who can afford high costs for seafood eateries. One of the many reasons for the failure of this product to establish in the mass market is the lack of seafood eating culture among general Nepalis, some of which also perceive that seafood eateries are beyond their household budget, Ghorasaini says. Failure to obtain large market for the product has incurred losses to some farmers as sometimes farmers cannot sell reared Rainbow Trout in time. </div> <div> </div> <div> Another reason behind the declination of rainbow trout sales is the lack of advertisement. “We are not getting platform to let people know about rainbow trout,” says Thapa. In lack of a proper platform to advertise and reach the common mass of people, the farming has received substantial setbacks in supply its produces. </div> <div> </div> <div> One of the major reasons for the high cost of Rainbow Trout in the market is the cost of the food served to this fish. Food served to this fish costs between Rs 130 to Rs 225 per kg.</div> <div> </div> <div> Adding to it lack of technological developments, proper equipment, and experts the production of the fish has been affected. “We don’t have latest technological equipment that can make substantial changes in producing the fish on large scale,” Ghorasini said pointing out the reason behind small-scale production of the fish.</div> <div> </div> <div> <span style="font-size:14px;"><strong>The future</strong></span></div> <div> Despite the seemingly disinterestedness among urban and rural Nepalis for seafood, trends are changing. With more and more restaurants booming in Kathmandu and other urban centres across the nation and with consumers becoming more concerned about hygienic and healthy food, Rainbow Trout delicacies are expected to gain more popularity in the days ahead. Even though the fish is costly, increasing income level of consumers and the health benefits attached to this fish will help in attracting more consumers to buy it. Therefore, they are ready to pay a higher price if the food is nutritious and beneficial. </div> <div> </div> <div> Future of farmers and entrepreneurs involved in this sector can be secured through special initiatives of the government. The government should assist in conducting researches and providing remedies to the Rainbow Trout fisheries and assist in coordinating with international communities for in sourcing technological advances made in this field. Providing subsidies on the raw materials used by this industry would further help in bringing the market cost of the product and thereby increasing sales of the farmers and making this healthy product available to mass consumers.</div> <div> </div> <div> <img alt="Rainbow Trout Business in Nepal" src="/userfiles/images/fn1%20(Copy).jpg" style="width: 550px; height: 206px; margin-left: 10px; margin-right: 10px;" /></div>', 'published' => true, 'created' => '2014-01-20', 'modified' => '2014-01-27', 'keywords' => 'the corporate weekly from Nepal, nepali corporate events – news – interviews – reviews, nepali corporate focus, nepali corporate status and news, news from nepali corporate industry, corporate happenings – events – news from nepal', 'description' => 'Rainbow Trout fish farming is a profit generating business, which has a wide scope in the Nepali market. Rainbow Trout, one of the many species of trout fishes, is a freshwater fish of the salmon family. Rainbow Trout fish have layers of red, green and blue colours glinting from their scales and get their name from this particular quality. This fish grows in cold and fresh running water. Climatic conditions of Nepal are suitable for the farming of this fish and correspondingly many entrepreneurs have capitalized on this fact. Nepali fish lovers have admired delicacies of this fish while appreciating various health benefits it has.', 'sortorder' => '2336', 'image' => null, 'article_date' => '0000-00-00 00:00:00', 'homepage' => false, 'breaking_news' => false, 'main_news' => false, 'in_scroller' => false, 'user_id' => '0' ) ), (int) 10 => array( 'Article' => array( 'id' => '2480', 'article_category_id' => '99', 'title' => 'Lumbini March Promotes Peace & Tourism', 'sub_title' => '', 'summary' => null, 'content' => '<div> </div> <div> <strong>--By TC Correspondent</strong></div> <div> </div> <div> Lumbini Peace Marathon organized Lumbini Peace March in Lumbini on 15th January. Officials of Lumbini Development Trust, Former Miss Nepal Sadkischay Shrestha, Olympians, representatives of Siddhartha Chamber of Commerce, Siddhartha Hotel Association, Siddhartha Hotel and Restaurant Association, officials from Nepal Tourism Board and sportsmen of Lumbini participated in the March. The March started from Peace Flame, went around the Mayadevi Temple and ended at the Peace Flame. </div> <div> </div> <div> Bikram Pandey, organizer of Lumbini Peace Marathon and Goodwill Ambassador of Lumbini said that the objective of the march was to promote the areas related with the life of Buddha as tourism destination. He also informed that the Lumbini Peace Marathon will be held on 16th March 2014. </div> <div> </div> <div> The Marathon will start from Tilorakot through Gotihawa, Kudan, Dohani, Barhiya, Pagadi, Labani and will finally end at Maya Devi Temple garden. All these places are related with the life cycle of Lord Buddha. There will be two men’s and women’s categories in the marathon. Students and Open will participate in five kilometer race and 10 kilometer corporate relay will be held for corporate participants.</div>', 'published' => true, 'created' => '2014-01-21', 'modified' => '2014-01-24', 'keywords' => 'the corporate weekly from Nepal, nepali corporate events – news – interviews – reviews, nepali corporate focus, nepali corporate status and news, news from nepali corporate industry, corporate happenings – events – news from nepal', 'description' => 'Lumbini Peace Marathon organized Lumbini Peace March in Lumbini on 15th January. Officials of Lumbini Development Trust, Former Miss Nepal Sadkischay Shrestha, Olympians, representatives of Siddhartha Chamber of Commerce, Siddhartha Hotel Association, Siddhartha Hotel and Restaurant Association, officials from Nepal Tourism Board and sportsmen of Lumbini participated in the March. The March started from Peace Flame, went around the Mayadevi Temple and ended at the Peace Flame.', 'sortorder' => '2335', 'image' => null, 'article_date' => '0000-00-00 00:00:00', 'homepage' => false, 'breaking_news' => false, 'main_news' => false, 'in_scroller' => false, 'user_id' => '0' ) ), (int) 11 => array( 'Article' => array( 'id' => '2491', 'article_category_id' => '168', 'title' => 'SAIM Producing Entrepreneurs', 'sub_title' => '', 'summary' => null, 'content' => '<div> </div> <div> </div> <div> <strong>--By Upashana Neupane</strong></div> <div> </div> <div> South Asian Institute of Management (SAIM) is an independent academic institution established in 2006. Located at Lagankhel, Lalitpur, SAIM aims to provide need-based management education and engage in management development, research and provide consultation services to facilitate the growth and development of managers, entrepreneurs, and business leaders in South Asia.</div> <div> </div> <div> SAIM aims to address the demand for skilled managers and entrepreneurs in Asia, which is expected to grow as it is the most dynamic economic centre for global trade, investment and technology innovation.</div> <div> </div> <div> It envisions generating professional managers and entrepreneurs who have a deep understanding of the region, its people and their deep rooted cultural values. And it has been working hard for the same with high degree of commitment, dedication and perseverance to establish itself as a regional learning centre of excellence for management studies.</div> <div> </div> <div> SAIM provides best of management education with some of the Nepal’s best intellectual professionals in its faculty such as Dr Bijay KC, Dr Prakash Chandra Lohani, Ashok R. Pandey, Madhukar SJB Rana and alike. The College offers Bachelor’s in Business Administration (BBA) and Master’s in Business Administration (MBA) in Global Business with affiliation from Pokhara University. </div> <div> </div> <div> Apart from that, SAIM has also collaborated with Asian Institute of Technology (AIT) Bangkok. With a purpose to upgrade education and research opportunities, SAIM signed an MOU with AIT in December 2009. The MOU focuses mainly on faculty and student exchange program, conducting joint research and studies. It also aims to build capacity of SAIM faculty members through degree and training programs at AIT. </div> <div> </div> <div> <span style="font-size: 14px;"><strong>College Objectives</strong></span></div> <div> •<span class="Apple-tab-span" style="white-space: pre;"> </span>To develop managers with sound management knowledge, skills and values along with leadership qualities and a positive attitude.</div> <div> •<span class="Apple-tab-span" style="white-space: pre;"> </span>To build relevant, practical curricula grounded on sound theory and based on regional case studies and experience sharing.</div> <div> •<span class="Apple-tab-span" style="white-space: pre;"> </span>To motivate students for bringing out the best in them and foster creativity, innovation and effective team building.</div> <div> •<span class="Apple-tab-span" style="white-space: pre;"> </span>To inculcate creativity and innovativeness in the faculty through continuing education, faculty development programs, consulting and research.</div> <div> </div> <div> </div> <div style="text-align: center;"> <span style="font-size: 18px;"><strong> “Be an entrepreneur not an employee”</strong></span></div> <div> </div> <table align="right" style="margin: 0px 0px 0px 10px;" width="25"> <tbody> <tr> <td> <img alt="Dr Bijay KC, Dean, SAIM" src="/userfiles/images/bkc.jpg" style="border-width: 0px; border-style: solid; width: 200px; height: 210px;" /></td> </tr> <tr> <td bgcolor="#FFFFFF"> <div align="center"> <div> <strong>Dr Bijay KC</strong></div> <div> Dean, SAIM</div> </div> </td> </tr> </tbody> </table> <div> Any developed country is well-developed because it’s well-managed. Until a country can’t utilise its resources, it can’t be developed. Utilising human resource and natural resources needs proper management. MBA (Masters in Business Administration) produces skilled or appropriate manpower for the utilisation of the resources, be it natural or human.</div> <div> </div> <div> MBA is regarded as best education worldwide for the management studies. It is a course providing practical knowledge about management. It teaches management of property as well as problems. It also helps in developing leadership and an individual’s decision making ability. It provides knowledge about specialized management which includes management of every sector. It teaches skills to apply theoretical knowledge in practical life. It also sharpens communication skills and team work. Thus, MBA has drawn attraction among students lately than other management programmes. </div> <div> </div> <div> Our country moved ahead to privatization after the change in policy in 1991resulting in increase of economic activities. Number of private industries, companies, banks, and financial sectors also increased after that. Similarly, activities in tourism sector and aviation also increased. Need of proper management was felt after the number and responsibilities of these institutions increased. For which, people with proper management skills were needed. MBA’s importance was felt to generate that manpower.</div> <div> </div> <div> Most of the students pursuing MBA have a thought of working with some companies. We suggest them to be entrepreneurs themselves rather than working with any organisation. MBA graduates should create employment rather than be an employee. Students belonging to industrial family automatically incline towards business while others think of doing job under some company. MBA however is not a subject to continue the traditional occupations. MBA graduates should be innovative enough to create employment opportunities and be progressive to face possible challenges in the market. However, being an entrepreneur is much more challenging than working for other organisations. </div> <div> </div> <div> MBA Graduates have showed good results in the management of the organizations. They are paid well also. Thus, the number of students wanting to study MBA increased along with the number of management schools providing MBA course. However, looking at the present scenario, number of MBA graduates has become more than the opportunities available and the size of the market. Economic activities that accelerated after 1991 have slowed down lately due to political instability in the country. MBA graduates thus are more in numbers than the opportunities available in the market. </div> <div style="text-align: right;"> <span style="font-size: 14px;"><em>(Based on an interview with Dr Bijaya KC.)</em></span></div>', 'published' => true, 'created' => '2014-01-22', 'modified' => '2014-01-24', 'keywords' => 'new business age business education news & articles, business education news & articles from new business age nepal, business education headlines from nepal, current and latest business education news from nepal, economic news from nepal, nepali business education economic news and events, ongoing', 'description' => 'South Asian Institute of Management (SAIM) is an independent academic institution established in 2006. Located at Lagankhel, Lalitpur, SAIM aims to provide need-based management education and engage in management development, research and provide consultation services to facilitate the growth and development of managers, entrepreneurs, and business leaders in South Asia.', 'sortorder' => '2334', 'image' => null, 'article_date' => '0000-00-00 00:00:00', 'homepage' => false, 'breaking_news' => false, 'main_news' => false, 'in_scroller' => false, 'user_id' => '0' ) ), (int) 12 => array( 'Article' => array( 'id' => '2490', 'article_category_id' => '31', 'title' => '“New Engines Of Growth Could Be A Stepping Stone For Nepal”', 'sub_title' => '', 'summary' => null, 'content' => '<div> </div> <div> <span style="font-size: 16px;"><strong>Prof Imon Ghosh</strong> is the Director of the Academy of Human Resource Development (AHRD), India’s premier institution specialising in human resources development. Prof Ghosh has a postgraduate degree in Economics with over 28 years of experience in industry and academia. He has identified five prospective new engines of economic growth, which, he claims, can reduce poverty across the developing countries as well as empower the disadvantaged/excluded groups in the developed countries. Recently, he was in Nepal to conduct a leadership workshop. New Business Age caught up with him on the sidelines of the workshop to talk about his idea of new engines for the economic growth and his other works. <strong>Excerpts:</strong></span></div> <div> </div> <div> <span style="font-size: 14px;"><strong>What brought you to Nepal?</strong></span></div> <div> This is my first visit to Nepal. Verisk invited me here to conduct a three-day leadership skill workshop for its management and senior management teams. Since I was here, I told my host to make another use of my visit by conducting a talk programme on my idea of new engines of economic growth. The motive of my Nepal visit is to start a discussion on my idea of ‘new engines of economic growth’ here in Nepal. I wanted to invite participants to provide me their inputs on it.</div> <div> </div> <div> <span style="font-size: 14px;"><strong>Can you please briefly highlight the idea of new engines of economic growth? What exactly are the new engines that you have identified?</strong></span></div> <div> I have identified five engines of economic growth. The first one is leveraging the demographic dividend through better education and skills. This also deals with the fiscal impact of ageing population, and links to deficits. Second is innovative teaching methodologies. This requires the overhaul of our education system from a teacher-centric pedagogy to a learner-centric andragogy, resulting in higher quality human capital that can add greater value to the knowledge economy. The third one is the ship design innovation that can reduce the cost of international trade. Likewise, fourth engine is related to research and development that results in the next generation of propulsion system after jet propulsion. This I have been thinking since the early 1980s. The fifth one is about the actionable ideas to reduce poverty and accelerate economic growth. This explores a new model for promoting financial inclusion, solutions to the current economic downturn, financial sector reforms and accelerating economic growth. My presentation here mostly dwelt on this fifth engine. </div> <div> </div> <div> <span style="font-size: 14px;"><strong>How did this idea of new engines of the economic growth evolve?</strong></span></div> <div> In 1992, I was doing my Masters in Economics. I came across a news article which said that many rural regional banks were running in losses and the government of India was trying to centralise them and take them to Delhi. My immediate thought was that it was a wrong thing to do; a rural bank should be in the rural area, and 196 such banks are not enough as India has over 600 thousand villages where over 815 million people live. Then I started investigating and looking at the whole when the thought crossed my mind that if we could economically empower 815 million people than we would have a powerful engine of growth. If so many people have the additional spending power, it would lift the economy up. In India, if there is good monsoon, farmers earn more and the stocks (shares price) of Hindustan Liver and other companies go up. Everybody benefits from the prosperity. Nobody benefits from keeping the people poor. It is morally imperative to reach out to the poor and improve their living conditions. As economies around the globe, including those of India and China, decelerate or slip into recession, the need of these new engines of economic growth becomes more urgent. </div> <div> </div> <div> <span style="font-size: 14px;"><strong>How can these new engines help accelerate Nepal’s economy? </strong></span></div> <div> I am actually here to learn and the purpose of my talk was also to have a conversation. I have studied India and I am interested in Nepal. I cannot prescribe the exact solution to Nepal. So, my intent was to solicit the inputs and feedback into my idea of new engines so that we can co-create it so that the engines could help Nepal’s economy in some way, either completely or remotely. This is not a complete solution, but of course a stepping stone for the economic growth. </div> <div> </div> <div> <span style="font-size: 14px;"><strong>What kind of response have you been getting on your idea?</strong></span></div> <div> So far, it’s very good. My paper on ‘Reducing Poverty and Accelerating Growth’, which contains this idea, has been included in the syllabus of India’s National University of Juridical Sciences. It was abridged and published on the editorial page of the Times of India, and noted in the records of the Indian parliament. Chief economic Advisor, Minister of Rural Development and other policy makers have appreciated it. </div> <div> </div> <div> <span style="font-size: 14px;"><strong>During your presentation, you underlined the need of integration between formal and informal financial sectors for an effective financial system. Could you please explain it?</strong></span></div> <div> In the formal financial sector, interest rates are low, the coverage is not very good, capital adequacy is low, and non-performing assets are created right from the very beginning. There are other problems too. In the informal sector, interest rates may be high. For the economy to grow, both should complement with each other and work in tandem. </div>', 'published' => true, 'created' => '2014-01-22', 'modified' => '2014-01-24', 'keywords' => 'new business age business visitors news & articles, business visitors news & articles from new business age nepal, business visitors headlines from nepal, current and latest business visitors news from nepal, economic news from nepal, nepali business visitors economic news and events, ongoing busin', 'description' => 'Prof Imon Ghosh is the Director of the Academy of Human Resource Development (AHRD), India’s premier institution specialising in human resources development. Prof Ghosh has a postgraduate degree in Economics with over 28 years of experience in industry and academia. He has identified five prospective new engines of economic growth, which, he claims, can reduce poverty across the developing countries as well as empower the disadvantaged/excluded groups in the developed countries. Recently, he was in Nepal to conduct a leadership workshop.', 'sortorder' => '2333', 'image' => null, 'article_date' => '0000-00-00 00:00:00', 'homepage' => false, 'breaking_news' => false, 'main_news' => false, 'in_scroller' => false, 'user_id' => '0' ) ), (int) 13 => array( 'Article' => array( 'id' => '2488', 'article_category_id' => '201', 'title' => 'Fighting The Winter Blues', 'sub_title' => '', 'summary' => null, 'content' => '<div> </div> <div> <strong>--By TC Correspondent</strong></div> <div> </div> <div> Season often plays a major role in changing human mood. Every season has its own impact on the human mind depending on the nature of an individual. As such, some people find winter gloomy. It is a season of the year when climate is harsh and cold. With the days becoming shorter and nights becoming longer and colder, people who are normally happy also start feeling little down or upset.Many people feel low and drowsy during winters. In winter, people normally lack motivation and energy levels also lessen in comparison to other season. Feeling low during winters is so common and this phenomenon iscommonly referred to as “winter blues”. Winter Blues is sometimes portrayed as depression for it brings in feelings like frustration, sadness, disappointment and indecisiveness in individuals.</div> <div> </div> <div> Winter Blues is a very normal psychological state and there are lots of things one can do to prevent the blues from kicking in and getting self back to normal if they’re already kicked in. You are not helpless against this seasonal sadness. You can fight it with the right foods and supplements, as well as certain types of exercise. There are many helpful tips for dealing with the winter blues.</div> <div> </div> <div> <span style="font-size:14px;"><strong><img alt="" src="/userfiles/images/ls1%20(Copy).jpg" style="float: left; margin: 0px 10px 0px 0px;width: 300px; height: 346px;" />Proper Diet</strong></span></div> <div> Foods that are low in nutrients can deplete your body of energy and can also influence your mood resulting in depression, lack of concentration and mood swings. Avoid refined and processed foods like white breads, rice, and sugar. Try to consume more carbohydrates such as whole wheat breads, fruits and vegetables. Also intake lot of liquid such as juice or water as it will help you remain hydrated. Consumption of healthy foods will provide your body and mind with nutrients, and soothe your blood sugar and energy levels.</div> <div> </div> <div> <span style="font-size:14px;"><strong>Fitness or Exercise</strong></span></div> <div> Exercise is immensely helpful for alleviating stress in your life. Physical activity stimulatesdifferent brain chemicalsthat can make you feel happier and more relaxed. Exercise boosts up energy and helps to remain active throughout the day. It increases your metabolism. Exercise also helps your mind by discharging “endorphins” that improve your mood.</div> <div> </div> <div> <span style="font-size:14px;"><strong>Pamper yourself </strong></span></div> <div> It is a must to take special care of your skin during winter because skin becomes dry and dull in this season. Apply moisturizers to soften your skin. To avoid skin cracks you can also apply glycerin and petroleum jelly before going to bed. Normally, people don’t use sunscreen during winter but this is a wrong tendency. Your skin can get sunburns even during winter. </div> <div> </div> <div> <span style="font-size:14px;"><strong>Follow the Sun</strong></span></div> <div> Deficiency of sunlight can make you feel depressed. You can get rid of winter blues by spending maximum time in sunlight. It is considered equally important as exercise, for it helps in elevating mood. Sun is a rich source of vitamin D. Vitamin D can decrease your chances of catching a cold or flu, enhance the immune system and keep appetite controlled.</div>', 'published' => true, 'created' => '2014-01-21', 'modified' => '2014-01-22', 'keywords' => 'the corporate weekly from Nepal, nepali corporate events – news – interviews – reviews, nepali corporate focus, nepali corporate status and news, news from nepali corporate industry, corporate happenings – events – news from nepal', 'description' => 'Season often plays a major role in changing human mood. Every season has its own impact on the human mind depending on the nature of an individual. As such, some people find winter gloomy. It is a season of the year when climate is harsh and cold. With the days becoming shorter and nights becoming longer and colder, people who are normally happy also start feeling little down or upset.Many people feel low and drowsy during winters. In winter, people normally lack motivation and energy levels also lessen in comparison to other season. Feeling low during winters is so common and this phenomenon iscommonly referred to as “winter blues”. Winter Blues is sometimes portrayed as depression for it brings in feelings like frustration, sadness, disappointment and indecisiveness in individuals.', 'sortorder' => '2332', 'image' => null, 'article_date' => '0000-00-00 00:00:00', 'homepage' => false, 'breaking_news' => false, 'main_news' => false, 'in_scroller' => false, 'user_id' => '0' ) ), (int) 14 => array( 'Article' => array( 'id' => '2489', 'article_category_id' => '150', 'title' => 'Business Briefs (20 - 26 January 2014)', 'sub_title' => '', 'summary' => null, 'content' => '<div> <span style="font-size:14px;"><strong>Toyota Hiace with New Engine</strong></span></div> <div> United Traders Syndicate Pvt Ltd has introduced Toyota Hiace with a new 2.5 litre, 16 valve DOHC Common Rail Turbo Diesel engine. According to the company, the new engine offers a balance between power and fuel efficiency. Apart from the new engine, Hiace comes with features like low engine noise, reduced weight and is highly durable and reliable, says a statement from the company. </div> <div> </div> <div> <span style="font-size:14px;"><strong>Jagdamba Steel’s Salaam Idea Contest</strong></span></div> <div> Jagdamba Steels Private Limited has launched a Facebook contest named Salaam Idea Contest. In this contest, participants are required to upload a picture in which TMT Steel Bar is used for any purpose other than construction or in tool making in the official Facebook Page of Jagdamba Steels. The participant with maximum number of likes will be declared the winner and will win a new Mahindra Rodeo RZ scooter. The contest will run for a month. </div> <div> </div> <div> <span style="font-size:14px;"><strong>Berger Silk Range Launched </strong></span></div> <div> Berger and Jensen Nepal Pvt Ltd has launched Berger Silk premium paint in Nepal. According to the company, Silk offers better shine and colour, and is one of the most luxurious offering from Berger. The company has also claimed that the paint is one of the safest emulsions in market as it is free from heavy metals like lead, mercury and chromium. Silk is endorsed by popular Bollywood actress Katrina Kaif. </div> <div> </div> <div> <span style="font-size:14px;"><strong>Shikhar Cement Gets NS Mark</strong></span></div> <div> Shikhar Cement, a product of Star Cement Industry Pvt Ltd has received NS Certification. Nepal Bureau of Standards and Metrology has awarded the certification based on the quality and manufacturing process of the cement. Star Cement Industry has been manufacturing cement since last eight years. </div> <div> </div> <div> <strong>Avanish Distillery launches Striker </strong></div> <div> Avanish Distillery Pvt Ltd has introduced its first product Striker, apple flavoured liquor in the market. According to the company, Striker is made from clean and pure water, and has passed through strict quality control. The company will also be producing vodkas, rums, whiskeys and gins in near future.</div>', 'published' => true, 'created' => '2014-01-21', 'modified' => '2014-01-22', 'keywords' => 'the corporate weekly from Nepal, nepali corporate events – news – interviews – reviews, nepali corporate focus, nepali corporate status and news, news from nepali corporate industry, corporate happenings – events – news from nepal', 'description' => 'United Traders Syndicate Pvt Ltd has introduced Toyota Hiace with a new 2.5 litre, 16 valve DOHC Common Rail Turbo Diesel engine. According to the company, the new engine offers a balance between power and fuel efficiency. Apart from the new engine, Hiace comes with features like low engine noise, reduced weight and is highly durable and reliable, says a statement from the company.', 'sortorder' => '2331', 'image' => null, 'article_date' => '0000-00-00 00:00:00', 'homepage' => false, 'breaking_news' => false, 'main_news' => false, 'in_scroller' => false, 'user_id' => '0' ) ) ) $current_user = null $logged_in = falsesimplexml_load_file - [internal], line ?? include - APP/View/Elements/side_bar.ctp, line 60 View::_evaluate() - CORE/Cake/View/View.php, line 971 View::_render() - CORE/Cake/View/View.php, line 933 View::_renderElement() - CORE/Cake/View/View.php, line 1224 View::element() - CORE/Cake/View/View.php, line 418 include - APP/View/Articles/index.ctp, line 157 View::_evaluate() - CORE/Cake/View/View.php, line 971 View::_render() - CORE/Cake/View/View.php, line 933 View::render() - CORE/Cake/View/View.php, line 473 Controller::render() - CORE/Cake/Controller/Controller.php, line 968 Dispatcher::_invoke() - CORE/Cake/Routing/Dispatcher.php, line 200 Dispatcher::dispatch() - CORE/Cake/Routing/Dispatcher.php, line 167 [main] - APP/webroot/index.php, line 117
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margin: 0px 10px 0px 0px; width: 80px; height: 97px;" />“This budget will be fully accepted by the coming government.”</strong></span></div> <div> <strong>Shanker Prasad Koirala,</strong> Minister of Finance, Industry and Commerce and Supplies, assuring that the current fiscal budget will be happily accepted by the new government to be formed after elections. </div> <div> </div> <div> </div> <div> </div> <div> <span style="font-size: 16px;"><strong><img alt="" src="/userfiles/images/up%20(Copy).jpg" style="float: left; margin: 0px 10px 0px 0px; width: 80px; height: 97px;" />“The Constituent Assembly’s second episode is supposed to trigger economic development.”</strong></span></div> <div> <strong>Upendra Poudyal,</strong> Vice President, of Nepal Bankers’ Association expressing hope that the election would bring in political stability and encourage economic development.</div> <div> </div> <div> </div> <div> </div> <div> <span style="font-size: 16px;"><strong><img alt="" src="/userfiles/images/yk%20(Copy).jpg" style="float: left; margin: 0px 10px 0px 0px; width: 80px; height: 97px;" />“Along with implementation of monetary policy, central banks’ roles have extended to stabilising the financial sector and contributing to the national economic development.”</strong></span></div> <div> <strong>Dr Yubaraj Khatiwada,</strong> Governor of Nepal Rastra Bank mentioning that roles of central banks around the world have increased in the post global economic crisis era.</div> <div> </div> <div> </div> <div> <strong style="font-size: 16px;"><img alt="" src="/userfiles/images/sv%20(Copy)(1).jpg" style="float: left; margin: 0px 10px 0px 0px; width: 80px; height: 97px;" /></strong></div> <div> <span style="font-size: 16px;"><strong>“The private sector will defy strikes.”</strong></span></div> <div> <strong>Suraj Vaidya</strong>, President of Federation of Nepalese Chambers of Commerce and Industry (FNCCI) stating that the private sector will defy any strikes organised by political parties.</div> <div> </div> <div> </div> <div> </div> <div> </div> <div> <span style="font-size: 16px;"><strong><img alt="" src="/userfiles/images/abp%20(Copy).jpg" style="float: left; margin: 0px 10px 0px 0px; width: 80px; height: 97px;" />“Think prosperity, think welfare and shun strikes.”</strong></span></div> <div> <strong>Ajay Bahadur Pradhanang,</strong> President of Nepal Young Entrepreneur’s Forum (NYEF), suggesting political parties to shun politics and prioritise national priorities and common welfare.</div>', 'published' => true, 'created' => '2014-01-26', 'modified' => '2014-01-27', 'keywords' => 'new business age voices news & articles, voices news & articles from new business age nepal, voices headlines from nepal, current and latest voices news from nepal, economic news from nepal, nepali voices economic news and events, ongoing voices news of nepal', 'description' => '“The Constituent Assembly’s second episode is supposed to trigger economic development.”', 'sortorder' => '2346', 'image' => null, 'article_date' => '0000-00-00 00:00:00', 'homepage' => false, 'breaking_news' => false, 'main_news' => false, 'in_scroller' => false, 'user_id' => '0' ) ), (int) 1 => array( 'Article' => array( 'id' => '2477', 'article_category_id' => '202', 'title' => 'A Voracious Reader', 'sub_title' => '', 'summary' => null, 'content' => '<div> </div> <div> <strong>--By TC Correspondent</strong></div> <div> </div> <div> Krishna Gyawali, Secretary at the Ministry of Industries (MoI), is a person who lives life in a simple manner. He describes himself as a positive person and loves to be viewed as a person with a clean-image. He follows Mahamta Gandhi’s philosophy of ‘Simple Living, High Thinking’ and tries to translate it in his lifestyle. Life, according to him, has to be taken easily and no one should be over-ambitious. “A person who is over-ambitious often fails to enjoy the simplicity of life,” says Gyawali. He further adds, “Accepting the people and situation as they are, makes life beautiful.”</div> <div> </div> <div> Gyawali loves to walk and often goes for hiking. He is a nature-lover and loves peaceful places. He is equally fascinated by cinemas and takes reading as his utmost hobby. He loves to spend his leisure time discussing political and social issues with like-minded people. He equally loves to listen to music and regards sleeping to be his favourite time-pass. However, he holds a strong dislike towards playing cards.</div> <div> </div> <div> Gyawali is a voracious reader. He is a fiction lover and believes that fiction has the power to take the reader to a different world. Likewise, he also reads philosophical books and biographies. He loves the work of Shankar Lamichhane and Bhupi Sherchan. But since his childhood, he has never liked Maths and Science. Gyawali’s favourite book is ‘Nepal’s Failed Development’ by Devendra Raj Pandey. Currently he is reading ‘India And Its Contradictions’ by Amatya Sen and Jean Drèze.</div> <div> </div> <div> Gyawali is a balanced person. He finds no difficulty in managing his professional and family life. He believes that the only way to balance these two is to take them together. “Taking work as fun is the way to find peace even while working,” he says. He suggests everyone to have positive attitude towards work to enjoy professional life. </div> <div> </div> <div> Though Gyawali wishes he had some more free time for himself and his family, and though he wishes for two day weekend holidays, he believes that public holidays are way too much in number and should be decreased. </div> <div> </div> <div> Gyawali loves visiting new places. He has been to many places in Nepal and describes Nepal as a place blessed by nature.He recalls visiting beautiful places like- Mustang, Pokhara, Chitwan, Swargadwari etc with his family members. Besides that he has also been to Pakistan and India and remembers these places to be also very beautiful. Gyawali recalls Disney land of Paris to be one of the most fascinating holiday destinations. </div> <div> </div> <div> Gyawali aspires to write two books in his lifetime. He wants to write a novel that reflects the reality of society. He also wants to give it a personal touch by adding elements of his life. Likewise, he wants to write a book that focuses on Nepal’s poverty and prosperity and wants to link it with Nepal’s development. Gyawali considers B.P Koirala, Nelson Mandela and his father to be his inspirational figures.</div> <div> </div> <div> Gyawali believes in Rajnish’s saying of being happy with what you have. His motto in life is to be happy and see everyone around him happy. He encourages everyone to be dutiful towards the nation and asks them to be service-oriented.</div>', 'published' => true, 'created' => '2014-01-20', 'modified' => '2014-01-27', 'keywords' => 'the corporate weekly from Nepal, nepali corporate events – news – interviews – reviews, nepali corporate focus, nepali corporate status and news, news from nepali corporate industry, corporate happenings – events – news from nepal', 'description' => 'Krishna Gyawali, Secretary at the Ministry of Industries (MoI), is a person who lives life in a simple manner. He describes himself as a positive person and loves to be viewed as a person with a clean-image. He follows Mahamta Gandhi’s philosophy of ‘Simple Living, High Thinking’ and tries to translate it in his lifestyle. Life, according to him, has to be taken easily and no one should be over-ambitious. “A person who is over-ambitious often fails to enjoy the simplicity of life,” says Gyawali. He further adds, “Accepting the people and situation as they are, makes life beautiful.”', 'sortorder' => '2345', 'image' => null, 'article_date' => '0000-00-00 00:00:00', 'homepage' => false, 'breaking_news' => false, 'main_news' => false, 'in_scroller' => false, 'user_id' => '0' ) ), (int) 2 => array( 'Article' => array( 'id' => '2502', 'article_category_id' => '91', 'title' => 'NSBM Takes Initiative For Int’l Quality Certification Of Domestic Goods And Services', 'sub_title' => '', 'summary' => null, 'content' => '<div> <strong>--By TC Correspondent </strong></div> <div> </div> <div> Nepal has taken initiative to start the international quality certification of the goods and services produced in the country. Along with the preparation to establish the National Accreditation Focal Point (NAFP), the Nepal Bureau of Standards and Metrology (NSBM) has taken the initiative to start the international quality certification within the nation itself, says, Romi Manandhar , Deputy Director General at the Bureau. Currently different organizations are taking their own initiative for certification.</div> <div> </div> <div> The Bureau is planning to establish NAFP in collaboration with India’s National Accreditation Board for Certification Bodies (NABCB). According to Manandhar, an agreement to this effect was signed between the NSBM and NABCB on last Wednesday (January 22). She also informed The Corporate that NAFP would request NABCB for quality certification. “As there is no separate body for [international] quality certification at the Bureau, we have signed an agreement with NABCB,” she added.</div> <div> </div> <div> The establishment of NAFP will help reduce the international quality certification cost of Nepali goods and services and will ease the entire process of quality certification, according to Manandhar. The NSBM is preparing to make a two-year work plan for NAFP. However, it’s going to take a few months before the NAFP starts working for international quality certification. </div> <div> </div> <div> For the time being, the office of NAFP will be located on the NSBM premises.</div>', 'published' => true, 'created' => '2014-01-26', 'modified' => '2014-01-26', 'keywords' => 'the corporate weekly from Nepal, nepali corporate events – news – interviews – reviews, nepali corporate focus, nepali corporate status and news, news from nepali corporate industry, corporate happenings – events – news from nepal', 'description' => 'Nepal has taken initiative to start the international quality certification of the goods and services produced in the country. Along with the preparation to establish the National Accreditation Focal Point (NAFP), the Nepal Bureau of Standards and Metrology (NSBM) has taken the initiative to start the international quality certification within the nation itself, says, Romi Manandhar , Deputy Director General at the Bureau. Currently different organizations are taking their own initiative for certification.', 'sortorder' => '2344', 'image' => null, 'article_date' => '0000-00-00 00:00:00', 'homepage' => false, 'breaking_news' => false, 'main_news' => false, 'in_scroller' => false, 'user_id' => '0' ) ), (int) 3 => array( 'Article' => array( 'id' => '2496', 'article_category_id' => '37', 'title' => 'Nepal’s Macroeconomic Challenges In 2014', 'sub_title' => '', 'summary' => null, 'content' => '<div> </div> <div> </div> <div> <strong>--Dr Rewat Bahadur Karki</strong></div> <div> </div> <div> After the second democratic movement in FY 2007/08, Nepali economy recorded rosy picture including higher GDP growth of 5.8 percent. However, after the constituent assembly (CA) election in 2009 macroeconomic situation went on declining with low growth mainly due to uncertainty of economic policy and deteriorating investment environment. But pre-last year -2011/12 was exceptional i.e. better along with moderate growth of 4.5 percent, the highest in the last five years primarily because of windfall (exogenous) gain caused by weather and remittance, while last year (2012/13)’s performance is poor with the lowest growth 3.5 percent according to the estimates of Central Bureau of Statistics (CBS), and double digit inflation. </div> <div> </div> <div> Analyzing last year’s situation in brief, efforts have been made to estimate and analyze this fiscal year’ macroeconomic scenario mainly comprising of real sector and price, monetary, fiscal and external sectors based on realistic approach. In FY 2013/14, following six strong bases/assumptions indicate rosy macro economic situation.</div> <div> </div> <div> 1. <span class="Apple-tab-span" style="white-space: pre;"> </span>The current non political government has announced next three year plan (starting from this FY-2013/14) with a growth of 6 percent by fixing the target of upgrading Nepal to developing country from low income country within 10 years as against the UN target of 18 years. The government has announced an ambitious budget in this line too.</div> <div> </div> <div> 2. <span class="Apple-tab-span" style="white-space: pre;"> </span>The government has made its efforts to present the pro-productive and investment-friendly budget instead of loading it populist programmes.</div> <div> </div> <div> 3. <span class="Apple-tab-span" style="white-space: pre;"> </span>The full budget, despite being an election budget, which has come without any disturbance since the first CA election in 2008 AD, has exerted some positive impact in the economy</div> <div> </div> <div> 4. <span class="Apple-tab-span" style="white-space: pre;"> </span>There will be positive impacts in the Nepali economy from the slight improvement (from 3 percent to 3.2 percent in 2013) in world economy and also in neighbouring countries –India and China as forecast by IMF.</div> <div> </div> <div> 5. <span class="Apple-tab-span" style="white-space: pre;"> </span>The last budget as brought by this non-party government in early 2013 gave a clear-cut direction regarding adoption of liberal economic policy and important role of private sector in the economy and thus, has exerted a positive impact.</div> <div> </div> <div> 6. <span class="Apple-tab-span" style="white-space: pre;"> </span>Weather so far is favourable, which will have a positive impact on the economy.</div> <div> </div> <div> Nonetheless, there are following weak bases or assumptions, which will make the economic scenario weak.</div> <div> </div> <div> 1. <span class="Apple-tab-span" style="white-space: pre;"> </span>Although the election government brought an ambitious election budget it will have minimum impact on economic growth and will instead accelerate inflation</div> <div> </div> <div> 2. <span class="Apple-tab-span" style="white-space: pre;"> </span>IMF has forecast that Nepal’s macroeconomic situation would not improve significantly for the coming five years.</div> <div> </div> <div> 3. <span class="Apple-tab-span" style="white-space: pre;"> </span>Since the first CA election, highest growth of 4.5 percent was recorded last year whereas average growth of last three-year plan is less than four percent as against 5.5 per annual average target. </div> <div> </div> <div> 4. <span class="Apple-tab-span" style="white-space: pre;"> </span>Absorptive capacity for capital expenditure is very poor in Nepal.</div> <div> </div> <div> 5. <span class="Apple-tab-span" style="white-space: pre;"> </span>Unfavourable investment climate due to some extremist political parties and their affiliate organizations (which are against investment), and acute problems relating to load shedding, rigid labour laws, infrastructures etc.</div> <div> </div> <div> 6. <span class="Apple-tab-span" style="white-space: pre;"> </span>Results of the second CA election, held peacefully in Marga 2070, has brought in Nepali Congress, credited for introducing liberal economic policy in the 90s, as the largest party. This is expected to bring a positive effect on the economy.</div> <div> </div> <div> Based on the above mentioned strong and weak aspect for the estimate, a midway analysis/estimate, which gives the realistic picture, has been made in this article. During 2013/14, some macroeconomic indicators will remain better than that of last year. GDP is estimated to increase from 4.5 percent to a maximum of 5 percent as agricultural sector, the mainstay of the economy, is estimated to grow 3-3.5 percent due to favourable weather condition. Situation of summer crops, mainly paddy and maize, seems better this year. Production of paddy is estimated to have increased by more than 10 percent, compared to the sharp decline of 14 percent, last year. </div> <div> </div> <div> With regard to non agricultural sector, it will record around 5.5 percent growth, higher than last year’s 5 percent. The manufacturing sector will move up from 1.6 percent to 3 percent as investment climate is expected to improve slightly despite election year. Similarly, trade sector’s growth will shoot up due to the sharp import growth, while other sub-sectors of this sector will remain normal. This growth is supported by high ratio of fixed investment (fixed capital formation) to GDP, which is estimated to rise to 24 percent due to higher capital expenditure as a result of full-fledged budget presented by this non-party government.</div> <div> </div> <div> <img alt="Economy and Policy" src="/userfiles/images/ep2%20(Copy)(1).jpg" style="width: 550px; height: 321px; margin-left: 10px; margin-right: 10px;" /></div> <div> </div> <div> The inflation, which rose almost by two digit i.e. 9.9 percent last year and has increased at the rate of 10percent during the first four months of this fiscal year (2013/14), is estimated go up annually to 12 percent, which will be very close to the level reached in 2008/09 (13 percent). Being an election year, current expenditure has shot up with remarkable rise in election budget along with sharp rise in private and informal expenditure. The sharp rise in salary (18 percent) and provision of Rs. 1000allowance to the government employees, coupled with sharp appreciation of the American Dollar against Rupee, will lead to high inflationary pressure. Despite higher estimated GDP growth this year, higher money supply caused by above factors will lead to high inflation of 12 percent this fiscal year. Containing the inflationary pressure this year is a big challenge to the authorities. </div> <div> </div> <div> In terms of government finance, the non-political government has been able to bring the budget on track despite late in the third quarter of last fiscal year-2012/13. Last year, total revised budget was around Rs.370 billion but due to substantial election expenditure as well as full-fledged budget, this year’s total budget estimate is Rs. 517 billion. Government estimates forecast capital expenditure to rise from around Rs. 55 billion level to Rs. 85 billion this year, while Rs. 78.7 billion has been set aside for financial provision. </div> <div> </div> <div> Although government has given priority to enhance capital expenditure, such expenditure is just 9 percent of the budgeted total capital expenditure in the first five months of this fiscal year (2013/14), while regular expenditure is almost 30 percent in this period. This trend shows that though the capital expenditure will be far below the target, the regular expenditure can cross the target. With the sharp rise in import, the import-based total revenue is estimated to rise by more than 20 percent this year. Thus, in the fiscal sector, increasing the capital expenditure and containing the regular expenditure will remain, as usual, the major challenge for the government. </div> <div> </div> <div> The election will have an expansionary effect on monetary sector. Both money supply (M1 and M2) will rise sharply than last year. Private sector’s credit growth level would be higher this year than the last year. Similarly, full budget will push the deposit growth and the broad money liquidity (M3). The financial sector has been facing instability, as more than a dozen of BFIs have been declared problematic and some even dissolved. Thus, stabilising and making this sector strong by strengthening the supervisory capacity of the central bank and by enhancing good governance in both the BFIs and the regulator, is a major challenge. </div> <div> </div> <div> The depressed share market has improved especially after the CA election’s result positioned Nepali Congress, known for its liberal economic policies, as the lead party in the CA. The share market on the whole will record bullish trend this year compared to last year. </div> <div> </div> <div> External sector in 2013/14 is estimated to register a weak scenario instead of registering any structural improvements. Rise in demand for consumer as well as capital goods, triggered by full-fledged budget and the election expenses, is likely to increase money supply as well as imports. As a result, imports will register sharp growth of 30 percent, and reach about one third of the GDP. Export is estimated to rise by 10-12 percent higher than the last year due to the sharp appreciation of US Dollar and the expected reforms in the export incentive. Due to high import and low export, export-import ratio will go down from current 14 percent to 11 percent, and the trade deficit to one-third of the GDP next year. Consequently, the steady rise in trade deficit will continue. High import growth will make large current account deficit this year. However, increased remittance, which is due to sharp Dollar appreciation, will ultimately lead to BOP surplus in 2013/14 but not in a significant manner. Thus strengthening the external sector, by decelerating the trade deficit through import management and export enhancement, will remain a major challenge. </div> <div> </div> <div> <img alt="Economy and Policy" src="/userfiles/images/ep3%20(Copy)(1).jpg" style="width: 550px; height: 413px; margin-left: 10px; margin-right: 10px;" /></div> <div> </div> <div> Considering the overall macroeconomic scenario and challenges, the new government, which is expected to form soon, should concentrate on economic agenda and in addressing major issues and challenges that Nepal’s economyis confronting. The elected government first of all has to pursuade all major political parties to form common economic agenda, and in setting future direction for the economy. Along with that the government should take initiatives to reform policies for addressing immediate economic concerns. In this regard, priority should be given to creating conducive environment for investment, reducing poverty, unemployment and bad governance. Along with that the government should provide special incentive to exports, energy and agriculture sector. It should focus on capacity enhancement of capital expenditure, containing double-digit inflation and decelerating trade deficit along with strengthening banking system. Nonetheless, along with the government, the private sector and other sections of societies should make collective efforts to strengthen the national economy.</div> <div> </div> <div> <em>(Writer is Expert Member at Securities Board of Nepal.)</em></div>', 'published' => true, 'created' => '2014-01-24', 'modified' => '2014-01-26', 'keywords' => 'new business age economy & policy news & articles, economy & policy news & articles from new business age nepal, economy & policy headlines from nepal, current and latest economy & policy news from nepal, economic news from nepal, nepali economy & policy economic news and events, ongoing economy', 'description' => 'After the second democratic movement in FY 2007/08, Nepali economy recorded rosy picture including higher GDP growth of 5.8 percent. However, after the constituent assembly (CA) election in 2009 macroeconomic situation went on declining with low growth mainly due to uncertainty of economic policy and deteriorating investment environment. But pre-last year -2011/12 was exceptional i.e. better along with moderate growth of 4.5 percent, the highest in the last five years primarily because of windfall (exogenous) gain caused by weather and remittance, while last year (2012/13)’s performance is poor with the lowest growth 3.5 percent according to the estimates of Central Bureau of Statistics (CBS), and double digit inflation.', 'sortorder' => '2343', 'image' => null, 'article_date' => '0000-00-00 00:00:00', 'homepage' => false, 'breaking_news' => false, 'main_news' => false, 'in_scroller' => false, 'user_id' => '0' ) ), (int) 4 => array( 'Article' => array( 'id' => '2449', 'article_category_id' => '91', 'title' => 'World Bank Forecasts 3.8 % Economic Growth Challenges Ahead', 'sub_title' => '', 'summary' => null, 'content' => '<div> </div> <div> <strong>--By TC Correspondent </strong></div> <div> </div> <div> The country will not regain strength in economic growth in 2014 despite a successful second Constituent Assembly (CA) election. </div> <div> </div> <div> The World Bank has estimated Nepal’s economic growth to be not more than 3.8 per cent in 2014, a marginal improvement compared to the 3.6 per cent growth rate in 2013. </div> <div> </div> <div> The data of Global Economic Prospectus 2014 report released by the World Bank clearly showed that the country has still a long way to go to achieve the growth target set by the government. According to the latest monetary policy, the government aims to achieve 5.5 per cent economic growth in 2014. </div> <div> </div> <div> <img alt="" src="/userfiles/images/twb%20(Copy).jpg" style="float: left; margin: 0px 10px 0px 0px; width: 200px; height: 95px;" />The growth forecast by the bank is a blow to the government’s plan of achieving 7 per cent economic growth. The forecast also showed that the government’s plan of improving its status as the developing country from existing Least Developed Country (LDC) is an ambitious plan which is hard to achieve any time soon as the World Bank has projected 4.4 per cent growth rate for 2015 and 5.2 for 2016.</div> <div> </div> <div> Experts, however, say that the country can do better than World Bank’s forecast if it aims at mobilizing more investment from the private sector. </div> <div> </div> <div> World Bank’s projection is based on the data of October 2013, said former finance secretary Rameshore Khanal. “The economic situation was better in December as the agriculture sector witnessed improvement including the production of crops.”</div> <div> </div> <div> We can say the World Bank’s data has underestimated the country’s economic situation to some extent, he claimed. “The country can achieve around 4.5 per cent economic growth in 2014.”</div> <div> </div> <div> We must focus on our major sectors such as agriculture, tourism, water resource if we are to attain speedy economic growth, said economist Dr Chiranjibi Nepal. </div> <div> </div> <div> Slower government expenditure – especially capital expenditure – despite timely monsoon that might boost agriculture growth, is still a big challenge for the country, he opined. “It is expected that the new government will bring policy to accelerate capital expenditure.”</div> <div> </div> <div> Taking the private sector into confidence is the only way out to propel economic growth while policy stability and endorsement of essential laws is a must to boost the private sector’s confidence, according to Khanal. </div> <div> </div> <div> The banking sector is still reluctant to invest in hydro projects and other big projects, he said. The government should identify the problems of banks and foster an environment where all banks can invest in big projects which will help boost economic activities.</div> <div> </div> <div> <img alt="" src="/userfiles/images/mn1%20(Copy).jpg" style="width: 550px; height: 397px; margin-left: 10px; margin-right: 10px;" /></div>', 'published' => true, 'created' => '2014-01-19', 'modified' => '2014-01-26', 'keywords' => 'the corporate weekly from Nepal, nepali corporate events – news – interviews – reviews, nepali corporate focus, nepali corporate status and news, news from nepali corporate industry, corporate happenings – events – news from nepal', 'description' => 'The country will not regain strength in economic growth in 2014 despite a successful second Constituent Assembly (CA) election. The World Bank has estimated Nepal’s economic growth to be not more than 3.8 per cent in 2014, a marginal improvement compared to the 3.6 per cent growth rate in 2013.', 'sortorder' => '2342', 'image' => null, 'article_date' => '0000-00-00 00:00:00', 'homepage' => false, 'breaking_news' => false, 'main_news' => false, 'in_scroller' => false, 'user_id' => '0' ) ), (int) 5 => array( 'Article' => array( 'id' => '2497', 'article_category_id' => '39', 'title' => 'Lomus : Looking Beyond Borders', 'sub_title' => '', 'summary' => null, 'content' => '<div> </div> <div> </div> <div> <strong>--By Gaurav Aryal</strong></div> <div> </div> <div> If the Nepali government allows Nepali ventures to invest in foreign land, Lomus Pharmaceuticals and the group of companies would be one of the top industrial houses to rejoice. Prabal Jung Pandey, Executive Director of the group says that he would be happy when his group would go beyond borders. He wishes to take Lomus Pharmaceuticals Pvt Ltd, the group’s flagship company and one of the leading pharmaceutical companies of Nepal, beyond borders.</div> <div> </div> <div> As a move towards this goal, the company is determined to increase the volume of its pharmaceutical products export to existing markets along with exploring new territories. According to Pandey, the company is exporting its products to four countries in Africa. “We will be exporting to Commonwealth of Independent States (CIS) countries soon. Necessary registration procedures have been completed and we are looking forward to exporting in large quantities,” he shared. </div> <div> </div> <div> Pandey thinks that once the company starts mass export of products, of the current production plants capacities would not be enough. He opines that establishing plants in other countries would be helpful to supply products to meet the demand. However, existing laws restrict Nepali companies from investing in foreign land. “The government should now think that the capable industries in Nepal should be allowed to invest in other countries. If someone is capable of investing abroad, and if s/he is working here successfully and if the profits come back to the country, there is no harm in allowing someone to invest abroad,” Pandey said arguing against the government’s restriction that is hindering the company’s expansion plan. </div> <div> </div> <div> He says that Lomus Pharmaceuticals has reached almost a saturation point in the Nepali market and with very little room for expansion. He further claims that the company leads Nepal’s pharmaceutical market with four per cent of the market share. </div> <div> </div> <table align="left" style="margin: 0px 10px 0px 0px;" width="25"> <tbody> <tr> <td> <img alt="Prabal Jung Pandey, Executive Director, Lomus Group" src="/userfiles/images/cf1%20(Copy)(3).jpg" style="border-width: 0px; border-style: solid; width: 200px; height: 238px;" /></td> </tr> <tr> <td bgcolor="#FFFFFF"> <div align="center"> <div> <strong>Prabal Jung Pandey</strong></div> <div> Executive Director</div> <div> Lomus Group</div> </div> </td> </tr> </tbody> </table> <div> <span style="font-size: 14px;"><strong>Group’s Inception</strong></span></div> <div> Lomus Pharmaceuticals is the first manufacturing venture of the group, started by Pradeep Jung Pandey, Vice President of Federation of Nepalese Chambers of Commerce and Industry (FNCCI) and father of Prabal Jung Pandey. Pandey gives credit to his father for establishing the company and taking it to the pinnacle. </div> <div> </div> <div> The company was established with its first factory at Gongabu in Kathmandu, 25 years ago. In its initial days, it used to produce around 40 pharmaceutical products. And, the group kept on taking gradual and careful steps for its expansion and growth. With a special focus on expanding the market, it kept on increasing the production capacity. A decade ago, a big move was made to establish a 15000 square feet production plant at Gothatar, one of the largest pharmaceuticals production units of the country.</div> <div> </div> <div> Pandeys always have had the belief that one should not be investing in a new venture unless the existing one is sustainable. “We do not believe in jumping into many ventures at once. We try to stabilise the existing one and keep it expanding so that it is self sustaining,” Pandey added.</div> <div> </div> <div> <span style="font-size: 14px;"><strong>The Expansion </strong></span></div> <div> The Pandey family came with its second venture 11 years ago - Cosmos Cement Industries Pvt Ltd. The company could not pick up immediately because of the ongoing armed conflict and the Madhesh movement that followed, recalls Pandey. The company was virtually in a status quo for almost five years after its establishment. The company is currently producing cement by grinding clinkers. However, it has plans to come up with its own clinker producing unit by utilising local raw material – limestone.</div> <div> </div> <div> Pandey reveals that as prerequisite of setting up a clinker production unit, two limestone mines are being excavated in Udaypur district. A feasibility study for setting up the plant has been completed and the essential land for it has been acquired after carrying out IEE and EIA. Likewise, another clinker producing unit is under construction in Janakpur. Initially this plant will be producing 700 tonnes of clinkers daily. Pandey says that once the unit completes its trial phase, its capacity will be increased gradually and is expected to reach 1200 tonnes per day within a year. He says that the plant will be catering to the high demand of cement in the eastern part of the country. Targeting this market, around nine months back, a cement factory with a production capacity of 400 tonnes per day was installed in Biratnagar. Similarly, one factory is under operation in Janakpur. The current expansion is being made with a total investment of Rs 1.5 billion.</div> <div> </div> <div> When the second generation businessmen in the Pandey family joined the business, set-up by their father, they took the business to new and varied sectors so that the three brothers can look after one of the sectors each. Now the group is involved in banking and financial sector, mining, cement production and pharmaceuticals.</div> <div> </div> <div> Pandey says that the group is willing to take pharmaceuticals and cement production companies to the next level in the near future. He reveals that the group is also planning to come with Ayurvedic medicines soon. These medicines will be branded uniquely and will be sold in the global market. Currently the group is employing 300 people in its group of companies other than financial institutions.</div> <div> </div> <div> <span style="font-size: 14px;"><strong>Branding Consolidation </strong></span></div> <div> The parent company of the group, Lomus Pharmaceuticals has become a well known brand name in the pharmaceutical industry. Pandey says that the recognition the company has got is because of the quality that the company has promised and delivered in its range of products. He says that the company does not compromise on quality and believes that products should be easily available at affordable price.</div> <div> </div> <div> Similarly, Tej Cement is a popular brand in the eastern Nepal. Popularity of this brand has encouraged the company to expand its production unit and add new factories. However the group has not yet given serious thoughts of branding the entire group under a consolidated name. Pandey hints the possibility of it in the future but not anytime soon.</div> <div> </div> <div> Pandey shares that all of the companies under the group are growing annually at a healthy rate of 20 per cent in average. The group registers an annual turnover of Rs 3 billion per year. He is quite satisfied with this progress but sees room for improvement. He adds, “I will be the happiest entrepreneur if we can make our name popular worldwide. I dream of making Lomus an international company and a brand name recognised everywhere.”</div> <div> <hr /> </div> <div style="text-align: center;"> <span style="font-size: 16px;"><strong>Core Sectors of the Group</strong></span></div> <div> </div> <div> <span style="font-size: 14px;"><strong>Pharmaceuticals</strong></span></div> <div> Pharmaceutical is one of the core areas of the group and the parent business for it. Lomus Pharmaceuticals Pvt Ltd is one of the market leaders in Nepal’s pharmaceuticals market. This company produces 400 products. However, its factory is operating for just 12 hours a day due to power supply problem. Apart from supplying its products to the general medicine market, the company also supplies to government.</div> <div> </div> <div> Cement and Mining Industry Cement production is one of the strong sectors of the group. The group has allocated two mining companies for its cement industries. Cosmos Quarries Pvt Ltd and Udaypur Mineral Tech are taking up the responsibility of limestone mining. However, the group is open for exploring new area for mining. Pandey sees potentials in copper and iron mining but transportation and electricity are the pre-requisites which he expects that the government should ensure.</div> <div> </div> <div> <span style="font-size: 14px;"><strong>Financial Sector</strong></span></div> <div> The group has presence in the banking and financial sector with three companies as one of the promoter shareholders. International Leasing and Finance Company Limited had a plan for upgrading to a commercial bank but could not do so in the lack of legal provision to do so. However, it has now plans to go for merger.</div> <div> </div> <div> Pandey says that merger talks are going with few financial institutions and he expects that these talks will conclude within the next five months. Apart from it, the group is involved with Citizens Bank International and Shikhar Insurance Company Limited. Similarly, the group has a presence in merchant banking sector through its Lomus Investment Co Pvt Ltd.</div>', 'published' => true, 'created' => '2014-01-24', 'modified' => '2014-01-26', 'keywords' => 'new business age corporate focus news & articles, corporate focus news & articles from new business age nepal, corporate focus headlines from nepal, current and latest corporate focus news from nepal, economic news from nepal, nepali corporate focus economic news and events, ongoing corporate foc', 'description' => 'Lomus Pharmaceuticals and the group of companies take every step carefully while investing in a new sector. The group, if allowed by the law, looks forward to invest abroad.', 'sortorder' => '2341', 'image' => null, 'article_date' => '0000-00-00 00:00:00', 'homepage' => false, 'breaking_news' => false, 'main_news' => false, 'in_scroller' => false, 'user_id' => '0' ) ), (int) 6 => array( 'Article' => array( 'id' => '2495', 'article_category_id' => '42', 'title' => 'Nepse Legs Up For The Next Bull Run', 'sub_title' => '', 'summary' => null, 'content' => '<div> <strong>--By Bikram Chitrakar</strong></div> <div> </div> <div> The Stock market of Nepal witnessed a strong unusual movement after completion of the second elections for Constitutional Assembly (CA) and announcement of the results. Investors’ sentiment was purely bullish and Nepse registered high trade volumes and frequent circuit breaks in the trading platform. The benchmark Nepse index skyrocketed by 150.07 points or 18.60% taking the secondary market to a 5-year high of 806.82 on December 18, 2013. The index was hovering around the same level in November 11, 2008. The final results of the CA elections further stimulated the stock market which had already leaped after the elections were over. Besides hope of political sustainability has improved the bullish sentiment leading the market to gain nothing like before. </div> <div> </div> <div> The gaining momentum has been supported by excess liquidity in the banking system despite the central banks several rounds of reverse repo operations with an aim of absorbing the excess liquidity from the market. Liquidity available with the investors at this time has also helped to boost the market as average daily turnover in Nepal Stock Exchange has now crossed Rs. 500 million. Likewise lack of potential investment opportunities in the real sectors has flooded fresh additional investments in the stock market. </div> <div> </div> <div> Following the excess liquidity in the financial system, cut in interest rates for deposit as well as lending by Banks and Financial Institutions (BFIs) and relative flexibility in share margin loan have also underpinned the recent growth in the country’s stock market. However informally it has been heard that Nepal Rastra Bank, the regulator of the country’s banking industry, is mooting introduction of some rigid measures on loan against share certificate. If so is the case, there may be some corrections in the market. </div> <div> </div> <div> <span style="font-size: 14px;"><strong>Performance by Sector</strong></span></div> <div> Following the previous trend, insurance sub-index topped the gaining chart with increase of 280.11 points for the period to rest at 1997.51. Hydropower sub-index added 248.03 points or 13.55% to settle at 1831.09. In the mean time, Hotel sub-index moved higher by 195.02 points to rest at 1100.64 on December 18, 2013. The Banking sub-index stepped up 192.84 points or 23.19 % to close at 831.66 while the sub-index of Development Banks registered a gain of 97.25 points for the period. The ‘Others’ sub-index accumulating the heavy scrip of Nepal Telecom surged 54.03 points to settle at 822.38.</div> <div> </div> <div> Sensitive index that measures the performance of 120 ‘A’ class companies listed at the secondary market moved higher by 28.78 points or 15.70% to settle at 183.28 while the float index calculated on the basis of real transaction of listed securities went uphill by 8.71 points or 16.37% to close at 53.21. Total of Rs. 7390 million turnover was realized during the review period from the business of 21.16 million units of share via 48,940 transactions.</div> <div> </div> <div> During the period of November 24 to December 18, 2013, commercial banks accounted the most of the turnover covering 70.84% of the total. In the mean time, Insurance sector covered 11.04% and development bank 7.71% followed by hydropower sector with 7.06% and the rest of the sectors made up the remaining portion. </div> <div> Technically, the Simple Moving Average (SMA) has dominated both 30 days SMA and 200 days SMA. Unusual strong growth in index has invited correction at this level. Hence cautious observation is required at this level to determine support and resistance regions. </div> <div style="text-align: right;"> <em>(Chitrakar is a Stock Analyst with Jamb Technologies Pvt Ltd.)</em></div> <div> <img alt="Stock taking" src="/userfiles/images/stock%20(Copy)%20(Copy).jpg" style="width: 550px; height: 208px; margin-left: 10px; margin-right: 10px;" /></div>', 'published' => true, 'created' => '2014-01-24', 'modified' => '2014-01-26', 'keywords' => 'new business age stock taking news & articles, stock taking news & articles from new business age nepal, stock taking headlines from nepal, current and latest stock taking news from nepal, economic news from nepal, nepali stock taking economic news and events, ongoing stock taking news of nepal', 'description' => 'The Stock market of Nepal witnessed a strong unusual movement after completion of the second elections for Constitutional Assembly (CA) and announcement of the results. Investors’ sentiment was purely bullish and Nepse registered high trade volumes and frequent circuit breaks in the trading platform. The benchmark Nepse index skyrocketed by 150.07 points or 18.60% taking the secondary market to a 5-year high of 806.82 on December 18, 2013. The index was hovering around the same level in November 11, 2008. The final results of the CA elections further stimulated the stock market which had already leaped after the elections were over. Besides hope of political sustainability has improved the bullish sentiment leading the market to gain nothing like before.', 'sortorder' => '2340', 'image' => null, 'article_date' => '0000-00-00 00:00:00', 'homepage' => false, 'breaking_news' => false, 'main_news' => false, 'in_scroller' => false, 'user_id' => '0' ) ), (int) 7 => array( 'Article' => array( 'id' => '2494', 'article_category_id' => '41', 'title' => 'Alternative Energy Replacing Traditional Ones', 'sub_title' => '', 'summary' => null, 'content' => '<div> </div> <div> </div> <div> <strong>--By Suraksha Adhikari</strong></div> <div> </div> <div> A country endowed with immense hydropower potential has been facing an acute energy crisis. Despite Nepal’s potential wealth in solar energy and hydropower the development of these energies has not kept pace with population growth. The little renewable energy that has been harnessed is poorly distributed due to crumbling infrastructure that is incapable of delivering, for example, parts for wind turbines. </div> <div> </div> <div> More than half of the country’s households - almost all in urban and semi-urban areas - are connected to the national electricity grid. But 80 percent of the population is rural, and in these areas, less than one-third has electricity. With grid extension to the country’s hilly and mountainous areas prohibitively expensive, officials are looking to off-grid renewable energy alternatives. </div> <div> </div> <div> Govinda Raj Pokharel, Executive Director of Alternative Energy Promotion Centre (AEPC) said, “We are using alternative energy mainly for rural electrification that provides an easy access of clean energy to rural area. But now we are moving to urban areas with the use of solar and utilization of bio degradable waste.”</div> <div> </div> <div> Talking about the consumption of renewable energy in Nepal he said, “Quantity-wise, renewable energy is covering 1 per cent of total population of the country. Our energy comes from bio-mass which is consumed by around 87 per cent of the total household.” But in terms of number of population around 14 percent of total population is using renewable energy to get light, Pokharel added.</div> <div> </div> <div> Alternative Energy Promotion Center is a national focal government organization for promoting renewable and alternative energy technologies in Nepal. AEPC is acting as an intermediary institution between the operational level i.e. NGOs/private promoters of renewable energy and the policy decision levels in relevant ministries. AEPC's activities include renewable energy policy formulation, planning and facilitating the implementation of the policies/plans, standardization, quality control and monitoring. </div> <div> </div> <div> Pokharel further added the role of alternative energy promotion sector is mainly to promote the use of renewable energy and our approach is public private partnership. “We work jointly with private organizations that are responsible to deliver and supply energy to the people and we work to fulfill demands by creating awareness and other activities, ”he said. </div> <div> </div> <div> <span style="font-size: 14px;"><strong>Resource Potential</strong></span></div> <div> There are abundantly available sources for mini and micro hydro power, enough solar radiation, good potential of wind in selected areas and other biomass based resources to meet the energy need of our country.</div> <div> </div> <div> Mini-Micro and Pico-hydro up to 100kW can be developed in a short period of time to electrify the villages. The existing total installed capacity of micro hydro projects is about 20 MW. However, altogether mini micro-hydro can generate about 10,000 MW of power in Nepal. </div> <div> </div> <div> Nepal receives ample solar radiation as it is located in favorable latitude. With National average sunshine hours of 6.8/day and solar insolation intensity of about 4.7 kWh/m2/day, there is a huge potential for large-scale development of solar energy technologies in the country. Presently solar water heater systems have been fully commercialized and have been widely installed in the country. </div> <div> </div> <div> About 1.5 million households can install domestic biogas plants based on animal dung. Another potential application of biogas technology in Nepal is to manage household solid waste in urban and peri-urban areas. There is also a significant potential of medium sized biogas plants suitable for SMEs, mainly in the dairy farms, poultry farms where biogas can be used directly for heat or for electricity generation that can replace diesel or other forms of fossil fuels. The other biomass waste having energy potential includes municipal solid waste. Over 1,350 tons of solid waste is generated across the 58 municipalities in Nepal. About 70% of municipal (solid) waste is biodegradable, and this waste can be used to generate energy. It is estimated that 50 million kWh can be generated per year from the total waste generated in these municipalities.</div> <div> </div> <div> <span style="font-size: 14px;"><strong>Why Alternative Energy in Nepal?</strong></span></div> <div> Focusing on the importance of alternative energy Pokharel said that alternative energy is important in Nepal mainly to address and reduce development disparity considering the people in rural areas also should have clean light as the people enjoy in urban areas. </div> <div> </div> <div> Similarly Nepal has diversified land structure from plain to high Himalayas and also settlement pattern is scattered and sparse. National grid extension in some places is not economically feasible. Big hydro projects need a huge investment and all the petroleum products consumed in Nepal are imported from India or overseas in the refined form for direct consumption, which is causing the economic burden for the country. </div> <div> </div> <div> The high potentiality of the renewable energy resources available in the country is the most appropriate option for Nepal. It also helps to reduce the dependency on the traditional biomass energy resources and fossil fuels and to manage the energy crisis of the nation. This ultimately helps to minimize the degradation of the environment.</div> <div> </div> <div> Alternative energy helps in enhancing energy security and promoting energy mix in the country. </div> <div> </div> <div> <span style="font-size: 14px;"><strong>Cost Effective</strong></span></div> <div> The experts of alternative energy claim that the alternative energy use costs cheaperthan traditional sources. Though initial investment cost of alternative energy technologies are expensive compared to the other traditional sources of energy. In the long-run alternative energy is mostly cheaper than the traditional sources because alternative source is almost free but you have to pay always for traditional source. Hence, if the financial mechanism can be developed in such a way that users can pay in installment basis by mortgaging house, vehicle, etc., than users will not feel initial financial burden.</div> <div> </div> <div> <span style="font-size: 14px;"><strong>Popularity of Alternative Energy</strong></span></div> <div> In Nepal, depending upon the geographical and type of energy required, solar is popular for lighting purpose, mini micro hydro is popular in hilly areas, biogas for cooking purpose. Around 700,000 households use biogas, 500,000 use solar and various other forms of alternative energy.</div> <div> </div> <div> There is no doubt regarding the fact that solar energy based technologies such as Solar Photovoltaic or Solar Thermal systems are the best substitutes. Right now, in the urban sector, individual households are opting for small-scale Solar PV solutions for domestic use. Even institutions like banks, corporate offices, and hospitals have adopted larger size system to meet their immediate energy needs. Besides Solar PV, which generates direct electricity; Solar Thermal systems also play a crucial role in minimizing use of electricity from national grid as well as reduce dependency on imported petroleum products.</div> <div> </div> <div> “Solar can now compete with hydropower,” Pokharel added. We are targeting to provide cooking stoves to 2 million and lighting to one million, he said. </div> <div> </div> <div> <span style="font-size: 14px;"><strong>Issues in this sector</strong></span></div> <div> Though alternative energy sources are focused on electrifying rural areas, Pokhrel says that the efforts made are not sufficient. There is still lack of alternative energy usage in the rural areas, which needs to be fulfilled. </div> <div> </div> <div> “We are not able to provide full financing for the installation of the alternative energy systems and this affects poor and rural people,” he added.</div> <div> </div> <div> Elaborating on the effort of AEPC in producing energy from sugarcane extracts, Pokharel said, “We are also trying to produce energy blending ethanol in petrol but lack of mandatory policy from government has restrained this effort. At least 5 per cent of Nepal petrol consumption can be replaced with this.”</div>', 'published' => true, 'created' => '2014-01-24', 'modified' => '2014-01-26', 'keywords' => 'new business age sectoral news & articles, sectoral news & articles from new business age nepal, sectoral headlines from nepal, current and latest sectoral news from nepal, economic news from nepal, nepali sectoral economic news and events, ongoing sectoral news of nepal', 'description' => 'A country endowed with immense hydropower potential has been facing an acute energy crisis. Despite Nepal’s potential wealth in solar energy and hydropower the development of these energies has not kept pace with population growth. The little renewable energy that has been harnessed is poorly distributed due to crumbling infrastructure that is incapable of delivering, for example, parts for wind turbines.', 'sortorder' => '2339', 'image' => null, 'article_date' => '0000-00-00 00:00:00', 'homepage' => false, 'breaking_news' => false, 'main_news' => false, 'in_scroller' => false, 'user_id' => '0' ) ), (int) 8 => array( 'Article' => array( 'id' => '2492', 'article_category_id' => '46', 'title' => '“Situation Is Difficult In Nepal For The Manufacturing Sector To Prosper”', 'sub_title' => '', 'summary' => null, 'content' => '<div> </div> <div> </div> <div> <span style="font-size: 16px;">Kedia Organisation, the oldest and one of the most talked about business conglomerates of the country, has been practicing a synergistic combination of family ownership and professional management since 1909 A.D. Named after their fathers, Late Sundarmal Kedia and Late Ram Kumar Kedia, it was surely a turning point for the Kedias when the first foundation stone of their present day multimillion conglomerate was laid in the form of a small cloth trading business. The group envisions reaching the zenith and being a premium conglomerate through outstanding service performance and clear business vision. Manoj Kedia, Executive Director of Kedia International and Vice president of the Confederation of Nepalese Industries (CNI), talks with New Business Age’s Homnath Gaire and Upashana Neupane on the group’s journey in Nepal so far, role of the private sector in nation’s development and the group’s future plans. Excerpts:</span></div> <div> </div> <div> <span style="font-size: 14px;"><strong>How is the history of Kedia Group different from the general history of Nepal’s private sector?</strong></span></div> <div> Trading business in Nepal started along with the Kedia Family. Initially, Kedia family started its business as a cloth merchant with stores in Birgunj and Kathmandu that sold clothes imported from India. With initiation of Late Brij Lal Kedia we gradually expanded our business to food grains trading. It started small but as time progressed it expanded across Nepal. </div> <div> </div> <div> He used to collect food grains from every corner of the country and supply them to even remote areas that lacked transportation facilities. For the first time in Nepal, he fixed prices of food grains and at a certain point, even the Khadya Sansthan (government owned Nepal Food Corporation) fixed food grain prices by consulting him. Later he established rice mills, dal mills and many more food grain factories. He established Nepal’s first modern rice mill, Bhagwati Rice Mill. </div> <div> </div> <div> Later Shankar Lal Kedia expanded foothold in the manufacturing sector. He established factories related to steel furniture, stainless steel utensils, textile, umbrella, socks, wheat flour, corrugated steel, copper utensil etc. During that time the steel, textile, and corrugated sheet industries were pioneers in their respective fields in Nepal and they are the backbones of the present day Kedia Organisation.</div> <div> </div> <div> At the same time we also entered in general merchandising sector by importing goods from third countries and bulk-traded them in local market. Our imports included cloth, electronics, food items, medical equipment, household products, hardware, cement, sugar, and edible oil among others. We also exported rice to Tibet and pulses and lentils to Sri Lanka, Bangladesh and to some European countries. </div> <div> </div> <div> We established Caltex Company, a petrol pump agent in Nepal, and this is still in operation as Kedia Auto in Birgunj. </div> <div> </div> <div> Kedia Group also is one of the first industrial houses to advertise its products. We sponsored the “Sundar Sushil Sangeet”, a popular song-on-request programme aired on Radio Nepal, to promote our products. </div> <div> </div> <div> Amid this long list of successful ventures, we also had some disappointing projects. Though we had bagged the license to launch Coca Cola in Nepal, we had to drop the project in the last minute due to some partnership problems. In 2015 B.S. we had to give up the launch of an iron steel factory project, even though necessary equipment and machinery were imported, after King Mahendra dissolved the democratic government and assumed power. Similarly in 2036-2037 B.S. we had to pull back from establishing the Kedia Paper Industry</div> <div> </div> <div> <span style="font-size: 14px;"><strong>What is the present status of Kedia Group and how is it different from the overall situation of the private sector?</strong></span></div> <div> Despiteour engagement in diverse sectors, manufacturing sector is our major area. We have established ourselves in the cement, carpet, and the sugar industry. Recently we have started manufacturing PVC carpet and are upgrading production capacity of Indusankhar Sugar Mill, Nepal’s one of the oldest and leading sugar industries. </div> <div> </div> <div> In the past we invested in the banking and financial sector. We had invested in Siddhartha Insurance, Siddhartha Capital and Siddhartha Bank. </div> <div> </div> <div> Kedia Group has made some significant investment in the service sector and presently we run several schools and hospitals in the country. </div> <div> </div> <div> Along with bulk trading, Kedia Group has once invested in housing projects. And as part of its plan to expand its foothold, the group has made small investments in other sectors like hydropower for getting acquainted with them. </div> <div> </div> <div> <span style="font-size: 14px;"><strong>How is this conglomerate with interests in so diverse fields being managed and controlled?</strong></span></div> <div> We have a joint family and we have divided our tasks within our family members for various sectors. We work in our respective sectors. Our father’s generation is also actively involved in managing the business. </div> <div> </div> <div> In the recent years, Nepal’s private sector is diverting investments to service and trade sector from the manufacturing sector. What is the reason?</div> <div> Nepal is a market of its own kind. Situation is difficult here for the manufacturing sector to prosper. Power shortage, a major problem faced by this sector, has been one of the major causes for such decrease in investment in such sectors. Open import is another hindering factor. Nepali market is crowded with cheap products from China and India and it is very hard for domestic products to compete with imported products in the market, especially in terms of cost. As such, only ethnic Nepali products can sustain in the local market.</div> <div> </div> <div> Lack of skilled and productive manpower, unfriendly labour environment and decrease in agricultural production that has triggered increased imports of agro products, are other factors that are affecting the growth of the manufacturing industries in Nepal. </div> <div> </div> <div> <span style="font-size: 14px;"><strong><img alt="Manoj Kedia" src="/userfiles/images/inter1%20(Copy)(1).jpg" style="float: left; margin: 0px 10px 0px 0px;width: 300px; height: 321px;" />You are a vice-president of Confederation of Nepalese Industries (CNI) that specializes in the promotion of industries rather than trading. Why is not CNI doing something to put a stopper on the deindustrialization of Nepali economy?</strong></span></div> <div> This accusation is wrong. CNI has unwavering vision and mission to achieve. It was established to address private sector’s problems by promoting liberal policies.The organization believes that the country can achieve prosperity via private sector’s involvement in development activities. It has always focused on facilitating the activities of private sector.</div> <div> </div> <div> In reality, many of the genuine issues and demands raised by CNI for promoting private sector remain unaddressed due to concerned authorities’ reluctance. I am pretty confident that the private sector can make tangible impact if issues and demands raised by CNI are endorsed by the parliament.</div> <div> </div> <div> <span style="font-size: 14px;"><strong>You said Kedia Group is also entering the power generation sector. Would you please elaborate on this?</strong></span></div> <div> The entire industrial sector has been suffering from power deficit. Industrial sector incurs billions of losses due to it. It is a national problem and it is obvious that major business houses want to engage in the power generation business.</div> <div> </div> <div> Presently power/energy costs have increased steeply. Simultaneously, demand for power has also increased. Hydropower has high market potential. As we are aware, due to our inability to use our energy resources, we are purchasing energy from neighbouring countries in various forms like petrol, diesel and oil. Most of our financial resources, which we could have invested in productive sectors, are spent in purchasing energy. </div> <div> </div> <div> Hydropower projects need lots of investment. We need laws and policies friendly enough to attract FDI in that sector. So far, Kedia organisation has not made substantial investment in this sector. We have invested as shareholder in this sector to study the sectoral behaviour. </div> <div> </div> <div> <span style="font-size: 14px;"><strong>Why is the Kedia Group not generating power through cogeneration from its sugar mill and supplying it to the national grid?</strong></span></div> <div> We can produce 10 Mega Watt of electricity from cogeneration, that too when the country faces maximum power shortage. To produce power, we need huge investment for developing infrastructure. If such infrastructures are developed in all industries across the nation, 30 to 40 Mega Watt of electricity can be produced. It is far less costly than thermal power plants and other alternative means and takes less time to establish also. </div> <div> </div> <div> However, huge investment is required to develop necessary infrastructure for such a project. As policy keeps changing, it entails huge investment risks. Such risk can be only taken if the state formulates conducive policy and provides special incentives. Otherwise, as an entrepreneur, I would not risk my investment.</div> <div> </div> <div> Presently, waste from the paper mill remains unexploited. If government supports in setting up power plants, such wastes can be used to generate multifuel whenever the nation needs. </div> <div> </div> <div> <span style="font-size: 14px;"><strong>Despite being a major player in agro-processing industry why is the Kedia Group not building backward linkages with the farmers?</strong></span></div> <div> We have been coordinating with farmers. We regularly provide them with various skill-based trainings and loans too. We have set up Sugar Mill in Sarlahi district, the major sugarcane growing centre of the country, and it is an instance that reflects how we work in coordination with farmers. In addition to that, we have been actively engaged with farmers in the dairy business as well.</div> <div> </div> <div> <span style="font-size: 14px;"><strong>Now that the Constituent Assembly elections are over, how do you visualize the business scenario in the days ahead?</strong></span></div> <div> Democracy has to be institutionalised. Political issues have been settled and that marked the crossing of transitional politics. The rhetoric of transition politics should not be repeated and we should be optimistic of economic growth in the days ahead. Kedia Group is very hopeful of contributing to the overall development of the country.</div> <div> </div> <div> During the last half-decade, there have been many positive changes in the political regime. With the successful completion of second Constituent Assembly election, it’s time to focus on institutionalising the achievements.</div> <div> </div> <div> Now, political parties should prioritize national interests by brushing aside their partisan and personal interests and focus on formulating collective goals to achieve national economic growth. </div> <div> </div> <div> It’s an achievement for the private sector that almost all major political parties consider it as the backbone of the national economy. Unity in diversity is our speciality and Nepali leaders should translate this mantra into reality. They should prioritize economic prosperity in their political agenda. Nepali business won’t get good reputation in international market unless our economy is strong and self-reliant. It is possible and all we need is sincere commitment from our politicians.</div> <div> </div> <div> <span style="font-size: 14px;"><strong>What agenda would you like the upcoming government to focus on for the progress of business-economic field? </strong></span></div> <div> The government should show readiness to address some pending economic agenda. It should create environment whereby industries can be set up in every district. Local bodies should be given authority for deciding utilization of local resources. The central government should act as intermediary to mitigate problems faced by the private sector at the local level.</div> <div> </div> <div> Above all, state should ensure political stability and strong governance and ensure their commitment made in the last election to the general public of drafting and promulgating the new constitution within the promised time frame. Economic growth of the nation can sustain and progress only if the state and political actors act as strong catalyst and continue propelling it. </div> <div> </div> <div> <span style="font-size: 14px;"><strong>The manufacturing index for the last fiscal year and the trade statistics for the first four months of the current fiscal year show some positive indications of improvement over the previous year. How do you interpret this information?</strong></span></div> <div> It is too early to comment on this. We do not see any drastic changes in the manufacturing sector over the last fiscal year. There are several reasons for the said improvement of manufacturing index. Firstly there was comparatively better supply of electricity, and secondly political realm remained stable during the last fiscal year. Dollar revaluation also contributed much for the better performance in the exports trade. We had less volume of imports, that is the domestic market imported fewer consignments in the last fiscal year, and this helped show improvement in the growth rate of the trade deficit. But we should remember that the trade deficit is still increasing though in slower rate.</div> <div> </div> <div> <span style="font-size: 14px;"><strong>Where do you see Kedia Group of Industries in five years of time?</strong></span></div> <div> In five years, we envision our involvement in diverse business. We will be engaging in the infrastructure, tourism, power and in the manufacturing sector. All we need is a strong and stable government, business-friendly policies and fair competition between private sector players. The domestic market has huge potentials and Kedia Group looks forward to tap and invest in them to create more jobs in the domestic market itself.</div>', 'published' => true, 'created' => '2014-01-24', 'modified' => '2014-01-24', 'keywords' => 'new business age interview news & articles, interview news & articles from new business age nepal, interview headlines from nepal, current and latest interview news from nepal, economic news from nepal, nepali interview economic news and events, ongoing interview news of nepal', 'description' => 'Kedia Organisation, the oldest and one of the most talked about business conglomerates of the country, has been practicing a synergistic combination of family ownership and professional management since 1909 A.D. Named after their fathers, Late Sundarmal Kedia and Late Ram Kumar Kedia, it was surely a turning point for the Kedias when the first foundation stone of their present day multimillion conglomerate was laid in the form of a small cloth trading business.', 'sortorder' => '2337', 'image' => null, 'article_date' => '0000-00-00 00:00:00', 'homepage' => false, 'breaking_news' => false, 'main_news' => false, 'in_scroller' => false, 'user_id' => '0' ) ), (int) 9 => array( 'Article' => array( 'id' => '2478', 'article_category_id' => '153', 'title' => 'Rainbow Trout Business In Nepal', 'sub_title' => '', 'summary' => null, 'content' => '<div> </div> <div> <strong>--By Rashika Pokharel</strong></div> <div> </div> <div> Rainbow Trout fish farming is a profit generating business, which has a wide scope in the Nepali market. Rainbow Trout, one of the many species of trout fishes, is a freshwater fish of the salmon family. Rainbow Trout fish have layers of red, green and blue colours glinting from their scales and get their name from this particular quality. This fish grows in cold and fresh running water. Climatic conditions of Nepal are suitable for the farming of this fish and correspondingly many entrepreneurs have capitalized on this fact. Nepali fish lovers have admired delicacies of this fish while appreciating various health benefits it has. </div> <div> </div> <div> The fish is not native to Nepali waters. For the first time, it was imported for cultivation from Japan in 1988. Due to favourable environmental condition, production of this fish flourished since then. Recently, private sector has introduced new technologies for producing and packaging it. In Nepal, it is generally perceived that fish farming is possible only in the Terai region of the nation. However, recent developments made in fish farming techniques, has caused a paradigm shift in this sector. Now, Rainbow Trout farming is possible in Hilly areas as well.</div> <div> </div> <div> Rainbow Trout farming was first started in Nuwakot. It has been able to bring considerable changes in economic status of the farmers. Even though the fish if produced in multiple places across the nation, the production has not been able to meet market demands. The fish is available in few department stores in Kathmandu. And sometimes consumers are found to be importing it as well. Comparatively the fish is costly than other species of fishes available in Nepali market. “A kg of rainbow trout fish costs Rs. 1400,” says Rajendra Khadka, owner of Budanilkantha Riverside Restaurant, that sells this fish by producing in its own facility inside the restaurant premises.</div> <div> </div> <div> <span style="font-size:14px;"><strong>The Healthiest Choice</strong></span></div> <div> Rainbow trout is rich in protein which helps to lose weight and retain lean muscle mass. It contains Omega-3 fatty acid, which helps to reduce blood pressure and helps to overcome depression. This acid also reduces risks of cardiovascular disease, hypertension, high blood cholesterol and certain types of cancer. It contains minerals, iron, calcium, zinc and vitamins including- vitamin B complex and Vitamin D. Delicious and readily available in most grocery stores, Rainbow Trout is also low in sodium and calories.</div> <div> </div> <div> Rainbow trout has comparatively low-fat level and is low in cholesterol too, which makes it a good protein substitute for meats like beef, pork and lamb that contain significantly higher amounts of saturated fat and cholesterol.</div> <div> </div> <div> <span style="font-size:14px;"><strong>Production</strong></span></div> <div> Rainbow trout production is expensive. Rs 20 million investment is required to produce 10 tons of Rainbow Trout and Rs 10 million is required to produce 5 tons. The Investment can be made on the basis of producer’s need and financial capabilities. Like other business field, this field has its own bottlenecks and risk factors. “Rainbow trout production is not easy. The sustenance of Rainbow Trout farming is difficult to manage both in terms of monetary and labour cost,” says Khadka.</div> <div> </div> <div> Farmers buy baby Rainbow Trout and rear them until they grow to a standard weight. According to Kapil Thapa, Manager at Nepal Rainbow Trout Farmers Association, the standard weight of a rainbow trout for selling is 200 gram. It takes a year for the baby trout to grow up and gain this weight. </div> <div> </div> <div> Rainbow trout farming can be done in any season. However, “The most favourable season for its farming is from November to April,” says Mahendra Ghorasini, Central Vice-president of Himalayan Trout Association. The suitable temperature for an adult Rainbow Trout to grow properly is 10-14 degree Celsius and 9-12 degree Celsius for the smaller one. This species of the fish require clean, cold and continuously flowing water to sustain and grow.</div> <div> </div> <div> <span style="font-size:14px;"><strong>Problems</strong></span></div> <div> Rainbow Trout farming is done by a very few farmers because its production is expensive as well as difficult. A single rainbow trout farm setup requires continuous flowing water, a cemented pool and a large area. Though this fish is popular, the popularity is limited to a very few selected groups and is yet reach the mass market. Due to high cost, the popularity is limited to upper middle and high-class people who can afford high costs for seafood eateries. One of the many reasons for the failure of this product to establish in the mass market is the lack of seafood eating culture among general Nepalis, some of which also perceive that seafood eateries are beyond their household budget, Ghorasaini says. Failure to obtain large market for the product has incurred losses to some farmers as sometimes farmers cannot sell reared Rainbow Trout in time. </div> <div> </div> <div> Another reason behind the declination of rainbow trout sales is the lack of advertisement. “We are not getting platform to let people know about rainbow trout,” says Thapa. In lack of a proper platform to advertise and reach the common mass of people, the farming has received substantial setbacks in supply its produces. </div> <div> </div> <div> One of the major reasons for the high cost of Rainbow Trout in the market is the cost of the food served to this fish. Food served to this fish costs between Rs 130 to Rs 225 per kg.</div> <div> </div> <div> Adding to it lack of technological developments, proper equipment, and experts the production of the fish has been affected. “We don’t have latest technological equipment that can make substantial changes in producing the fish on large scale,” Ghorasini said pointing out the reason behind small-scale production of the fish.</div> <div> </div> <div> <span style="font-size:14px;"><strong>The future</strong></span></div> <div> Despite the seemingly disinterestedness among urban and rural Nepalis for seafood, trends are changing. With more and more restaurants booming in Kathmandu and other urban centres across the nation and with consumers becoming more concerned about hygienic and healthy food, Rainbow Trout delicacies are expected to gain more popularity in the days ahead. Even though the fish is costly, increasing income level of consumers and the health benefits attached to this fish will help in attracting more consumers to buy it. Therefore, they are ready to pay a higher price if the food is nutritious and beneficial. </div> <div> </div> <div> Future of farmers and entrepreneurs involved in this sector can be secured through special initiatives of the government. The government should assist in conducting researches and providing remedies to the Rainbow Trout fisheries and assist in coordinating with international communities for in sourcing technological advances made in this field. Providing subsidies on the raw materials used by this industry would further help in bringing the market cost of the product and thereby increasing sales of the farmers and making this healthy product available to mass consumers.</div> <div> </div> <div> <img alt="Rainbow Trout Business in Nepal" src="/userfiles/images/fn1%20(Copy).jpg" style="width: 550px; height: 206px; margin-left: 10px; margin-right: 10px;" /></div>', 'published' => true, 'created' => '2014-01-20', 'modified' => '2014-01-27', 'keywords' => 'the corporate weekly from Nepal, nepali corporate events – news – interviews – reviews, nepali corporate focus, nepali corporate status and news, news from nepali corporate industry, corporate happenings – events – news from nepal', 'description' => 'Rainbow Trout fish farming is a profit generating business, which has a wide scope in the Nepali market. Rainbow Trout, one of the many species of trout fishes, is a freshwater fish of the salmon family. Rainbow Trout fish have layers of red, green and blue colours glinting from their scales and get their name from this particular quality. This fish grows in cold and fresh running water. Climatic conditions of Nepal are suitable for the farming of this fish and correspondingly many entrepreneurs have capitalized on this fact. Nepali fish lovers have admired delicacies of this fish while appreciating various health benefits it has.', 'sortorder' => '2336', 'image' => null, 'article_date' => '0000-00-00 00:00:00', 'homepage' => false, 'breaking_news' => false, 'main_news' => false, 'in_scroller' => false, 'user_id' => '0' ) ), (int) 10 => array( 'Article' => array( 'id' => '2480', 'article_category_id' => '99', 'title' => 'Lumbini March Promotes Peace & Tourism', 'sub_title' => '', 'summary' => null, 'content' => '<div> </div> <div> <strong>--By TC Correspondent</strong></div> <div> </div> <div> Lumbini Peace Marathon organized Lumbini Peace March in Lumbini on 15th January. Officials of Lumbini Development Trust, Former Miss Nepal Sadkischay Shrestha, Olympians, representatives of Siddhartha Chamber of Commerce, Siddhartha Hotel Association, Siddhartha Hotel and Restaurant Association, officials from Nepal Tourism Board and sportsmen of Lumbini participated in the March. The March started from Peace Flame, went around the Mayadevi Temple and ended at the Peace Flame. </div> <div> </div> <div> Bikram Pandey, organizer of Lumbini Peace Marathon and Goodwill Ambassador of Lumbini said that the objective of the march was to promote the areas related with the life of Buddha as tourism destination. He also informed that the Lumbini Peace Marathon will be held on 16th March 2014. </div> <div> </div> <div> The Marathon will start from Tilorakot through Gotihawa, Kudan, Dohani, Barhiya, Pagadi, Labani and will finally end at Maya Devi Temple garden. All these places are related with the life cycle of Lord Buddha. There will be two men’s and women’s categories in the marathon. Students and Open will participate in five kilometer race and 10 kilometer corporate relay will be held for corporate participants.</div>', 'published' => true, 'created' => '2014-01-21', 'modified' => '2014-01-24', 'keywords' => 'the corporate weekly from Nepal, nepali corporate events – news – interviews – reviews, nepali corporate focus, nepali corporate status and news, news from nepali corporate industry, corporate happenings – events – news from nepal', 'description' => 'Lumbini Peace Marathon organized Lumbini Peace March in Lumbini on 15th January. Officials of Lumbini Development Trust, Former Miss Nepal Sadkischay Shrestha, Olympians, representatives of Siddhartha Chamber of Commerce, Siddhartha Hotel Association, Siddhartha Hotel and Restaurant Association, officials from Nepal Tourism Board and sportsmen of Lumbini participated in the March. The March started from Peace Flame, went around the Mayadevi Temple and ended at the Peace Flame.', 'sortorder' => '2335', 'image' => null, 'article_date' => '0000-00-00 00:00:00', 'homepage' => false, 'breaking_news' => false, 'main_news' => false, 'in_scroller' => false, 'user_id' => '0' ) ), (int) 11 => array( 'Article' => array( 'id' => '2491', 'article_category_id' => '168', 'title' => 'SAIM Producing Entrepreneurs', 'sub_title' => '', 'summary' => null, 'content' => '<div> </div> <div> </div> <div> <strong>--By Upashana Neupane</strong></div> <div> </div> <div> South Asian Institute of Management (SAIM) is an independent academic institution established in 2006. Located at Lagankhel, Lalitpur, SAIM aims to provide need-based management education and engage in management development, research and provide consultation services to facilitate the growth and development of managers, entrepreneurs, and business leaders in South Asia.</div> <div> </div> <div> SAIM aims to address the demand for skilled managers and entrepreneurs in Asia, which is expected to grow as it is the most dynamic economic centre for global trade, investment and technology innovation.</div> <div> </div> <div> It envisions generating professional managers and entrepreneurs who have a deep understanding of the region, its people and their deep rooted cultural values. And it has been working hard for the same with high degree of commitment, dedication and perseverance to establish itself as a regional learning centre of excellence for management studies.</div> <div> </div> <div> SAIM provides best of management education with some of the Nepal’s best intellectual professionals in its faculty such as Dr Bijay KC, Dr Prakash Chandra Lohani, Ashok R. Pandey, Madhukar SJB Rana and alike. The College offers Bachelor’s in Business Administration (BBA) and Master’s in Business Administration (MBA) in Global Business with affiliation from Pokhara University. </div> <div> </div> <div> Apart from that, SAIM has also collaborated with Asian Institute of Technology (AIT) Bangkok. With a purpose to upgrade education and research opportunities, SAIM signed an MOU with AIT in December 2009. The MOU focuses mainly on faculty and student exchange program, conducting joint research and studies. It also aims to build capacity of SAIM faculty members through degree and training programs at AIT. </div> <div> </div> <div> <span style="font-size: 14px;"><strong>College Objectives</strong></span></div> <div> •<span class="Apple-tab-span" style="white-space: pre;"> </span>To develop managers with sound management knowledge, skills and values along with leadership qualities and a positive attitude.</div> <div> •<span class="Apple-tab-span" style="white-space: pre;"> </span>To build relevant, practical curricula grounded on sound theory and based on regional case studies and experience sharing.</div> <div> •<span class="Apple-tab-span" style="white-space: pre;"> </span>To motivate students for bringing out the best in them and foster creativity, innovation and effective team building.</div> <div> •<span class="Apple-tab-span" style="white-space: pre;"> </span>To inculcate creativity and innovativeness in the faculty through continuing education, faculty development programs, consulting and research.</div> <div> </div> <div> </div> <div style="text-align: center;"> <span style="font-size: 18px;"><strong> “Be an entrepreneur not an employee”</strong></span></div> <div> </div> <table align="right" style="margin: 0px 0px 0px 10px;" width="25"> <tbody> <tr> <td> <img alt="Dr Bijay KC, Dean, SAIM" src="/userfiles/images/bkc.jpg" style="border-width: 0px; border-style: solid; width: 200px; height: 210px;" /></td> </tr> <tr> <td bgcolor="#FFFFFF"> <div align="center"> <div> <strong>Dr Bijay KC</strong></div> <div> Dean, SAIM</div> </div> </td> </tr> </tbody> </table> <div> Any developed country is well-developed because it’s well-managed. Until a country can’t utilise its resources, it can’t be developed. Utilising human resource and natural resources needs proper management. MBA (Masters in Business Administration) produces skilled or appropriate manpower for the utilisation of the resources, be it natural or human.</div> <div> </div> <div> MBA is regarded as best education worldwide for the management studies. It is a course providing practical knowledge about management. It teaches management of property as well as problems. It also helps in developing leadership and an individual’s decision making ability. It provides knowledge about specialized management which includes management of every sector. It teaches skills to apply theoretical knowledge in practical life. It also sharpens communication skills and team work. Thus, MBA has drawn attraction among students lately than other management programmes. </div> <div> </div> <div> Our country moved ahead to privatization after the change in policy in 1991resulting in increase of economic activities. Number of private industries, companies, banks, and financial sectors also increased after that. Similarly, activities in tourism sector and aviation also increased. Need of proper management was felt after the number and responsibilities of these institutions increased. For which, people with proper management skills were needed. MBA’s importance was felt to generate that manpower.</div> <div> </div> <div> Most of the students pursuing MBA have a thought of working with some companies. We suggest them to be entrepreneurs themselves rather than working with any organisation. MBA graduates should create employment rather than be an employee. Students belonging to industrial family automatically incline towards business while others think of doing job under some company. MBA however is not a subject to continue the traditional occupations. MBA graduates should be innovative enough to create employment opportunities and be progressive to face possible challenges in the market. However, being an entrepreneur is much more challenging than working for other organisations. </div> <div> </div> <div> MBA Graduates have showed good results in the management of the organizations. They are paid well also. Thus, the number of students wanting to study MBA increased along with the number of management schools providing MBA course. However, looking at the present scenario, number of MBA graduates has become more than the opportunities available and the size of the market. Economic activities that accelerated after 1991 have slowed down lately due to political instability in the country. MBA graduates thus are more in numbers than the opportunities available in the market. </div> <div style="text-align: right;"> <span style="font-size: 14px;"><em>(Based on an interview with Dr Bijaya KC.)</em></span></div>', 'published' => true, 'created' => '2014-01-22', 'modified' => '2014-01-24', 'keywords' => 'new business age business education news & articles, business education news & articles from new business age nepal, business education headlines from nepal, current and latest business education news from nepal, economic news from nepal, nepali business education economic news and events, ongoing', 'description' => 'South Asian Institute of Management (SAIM) is an independent academic institution established in 2006. Located at Lagankhel, Lalitpur, SAIM aims to provide need-based management education and engage in management development, research and provide consultation services to facilitate the growth and development of managers, entrepreneurs, and business leaders in South Asia.', 'sortorder' => '2334', 'image' => null, 'article_date' => '0000-00-00 00:00:00', 'homepage' => false, 'breaking_news' => false, 'main_news' => false, 'in_scroller' => false, 'user_id' => '0' ) ), (int) 12 => array( 'Article' => array( 'id' => '2490', 'article_category_id' => '31', 'title' => '“New Engines Of Growth Could Be A Stepping Stone For Nepal”', 'sub_title' => '', 'summary' => null, 'content' => '<div> </div> <div> <span style="font-size: 16px;"><strong>Prof Imon Ghosh</strong> is the Director of the Academy of Human Resource Development (AHRD), India’s premier institution specialising in human resources development. Prof Ghosh has a postgraduate degree in Economics with over 28 years of experience in industry and academia. He has identified five prospective new engines of economic growth, which, he claims, can reduce poverty across the developing countries as well as empower the disadvantaged/excluded groups in the developed countries. Recently, he was in Nepal to conduct a leadership workshop. New Business Age caught up with him on the sidelines of the workshop to talk about his idea of new engines for the economic growth and his other works. <strong>Excerpts:</strong></span></div> <div> </div> <div> <span style="font-size: 14px;"><strong>What brought you to Nepal?</strong></span></div> <div> This is my first visit to Nepal. Verisk invited me here to conduct a three-day leadership skill workshop for its management and senior management teams. Since I was here, I told my host to make another use of my visit by conducting a talk programme on my idea of new engines of economic growth. The motive of my Nepal visit is to start a discussion on my idea of ‘new engines of economic growth’ here in Nepal. I wanted to invite participants to provide me their inputs on it.</div> <div> </div> <div> <span style="font-size: 14px;"><strong>Can you please briefly highlight the idea of new engines of economic growth? What exactly are the new engines that you have identified?</strong></span></div> <div> I have identified five engines of economic growth. The first one is leveraging the demographic dividend through better education and skills. This also deals with the fiscal impact of ageing population, and links to deficits. Second is innovative teaching methodologies. This requires the overhaul of our education system from a teacher-centric pedagogy to a learner-centric andragogy, resulting in higher quality human capital that can add greater value to the knowledge economy. The third one is the ship design innovation that can reduce the cost of international trade. Likewise, fourth engine is related to research and development that results in the next generation of propulsion system after jet propulsion. This I have been thinking since the early 1980s. The fifth one is about the actionable ideas to reduce poverty and accelerate economic growth. This explores a new model for promoting financial inclusion, solutions to the current economic downturn, financial sector reforms and accelerating economic growth. My presentation here mostly dwelt on this fifth engine. </div> <div> </div> <div> <span style="font-size: 14px;"><strong>How did this idea of new engines of the economic growth evolve?</strong></span></div> <div> In 1992, I was doing my Masters in Economics. I came across a news article which said that many rural regional banks were running in losses and the government of India was trying to centralise them and take them to Delhi. My immediate thought was that it was a wrong thing to do; a rural bank should be in the rural area, and 196 such banks are not enough as India has over 600 thousand villages where over 815 million people live. Then I started investigating and looking at the whole when the thought crossed my mind that if we could economically empower 815 million people than we would have a powerful engine of growth. If so many people have the additional spending power, it would lift the economy up. In India, if there is good monsoon, farmers earn more and the stocks (shares price) of Hindustan Liver and other companies go up. Everybody benefits from the prosperity. Nobody benefits from keeping the people poor. It is morally imperative to reach out to the poor and improve their living conditions. As economies around the globe, including those of India and China, decelerate or slip into recession, the need of these new engines of economic growth becomes more urgent. </div> <div> </div> <div> <span style="font-size: 14px;"><strong>How can these new engines help accelerate Nepal’s economy? </strong></span></div> <div> I am actually here to learn and the purpose of my talk was also to have a conversation. I have studied India and I am interested in Nepal. I cannot prescribe the exact solution to Nepal. So, my intent was to solicit the inputs and feedback into my idea of new engines so that we can co-create it so that the engines could help Nepal’s economy in some way, either completely or remotely. This is not a complete solution, but of course a stepping stone for the economic growth. </div> <div> </div> <div> <span style="font-size: 14px;"><strong>What kind of response have you been getting on your idea?</strong></span></div> <div> So far, it’s very good. My paper on ‘Reducing Poverty and Accelerating Growth’, which contains this idea, has been included in the syllabus of India’s National University of Juridical Sciences. It was abridged and published on the editorial page of the Times of India, and noted in the records of the Indian parliament. Chief economic Advisor, Minister of Rural Development and other policy makers have appreciated it. </div> <div> </div> <div> <span style="font-size: 14px;"><strong>During your presentation, you underlined the need of integration between formal and informal financial sectors for an effective financial system. Could you please explain it?</strong></span></div> <div> In the formal financial sector, interest rates are low, the coverage is not very good, capital adequacy is low, and non-performing assets are created right from the very beginning. There are other problems too. In the informal sector, interest rates may be high. For the economy to grow, both should complement with each other and work in tandem. </div>', 'published' => true, 'created' => '2014-01-22', 'modified' => '2014-01-24', 'keywords' => 'new business age business visitors news & articles, business visitors news & articles from new business age nepal, business visitors headlines from nepal, current and latest business visitors news from nepal, economic news from nepal, nepali business visitors economic news and events, ongoing busin', 'description' => 'Prof Imon Ghosh is the Director of the Academy of Human Resource Development (AHRD), India’s premier institution specialising in human resources development. Prof Ghosh has a postgraduate degree in Economics with over 28 years of experience in industry and academia. He has identified five prospective new engines of economic growth, which, he claims, can reduce poverty across the developing countries as well as empower the disadvantaged/excluded groups in the developed countries. Recently, he was in Nepal to conduct a leadership workshop.', 'sortorder' => '2333', 'image' => null, 'article_date' => '0000-00-00 00:00:00', 'homepage' => false, 'breaking_news' => false, 'main_news' => false, 'in_scroller' => false, 'user_id' => '0' ) ), (int) 13 => array( 'Article' => array( 'id' => '2488', 'article_category_id' => '201', 'title' => 'Fighting The Winter Blues', 'sub_title' => '', 'summary' => null, 'content' => '<div> </div> <div> <strong>--By TC Correspondent</strong></div> <div> </div> <div> Season often plays a major role in changing human mood. Every season has its own impact on the human mind depending on the nature of an individual. As such, some people find winter gloomy. It is a season of the year when climate is harsh and cold. With the days becoming shorter and nights becoming longer and colder, people who are normally happy also start feeling little down or upset.Many people feel low and drowsy during winters. In winter, people normally lack motivation and energy levels also lessen in comparison to other season. Feeling low during winters is so common and this phenomenon iscommonly referred to as “winter blues”. Winter Blues is sometimes portrayed as depression for it brings in feelings like frustration, sadness, disappointment and indecisiveness in individuals.</div> <div> </div> <div> Winter Blues is a very normal psychological state and there are lots of things one can do to prevent the blues from kicking in and getting self back to normal if they’re already kicked in. You are not helpless against this seasonal sadness. You can fight it with the right foods and supplements, as well as certain types of exercise. There are many helpful tips for dealing with the winter blues.</div> <div> </div> <div> <span style="font-size:14px;"><strong><img alt="" src="/userfiles/images/ls1%20(Copy).jpg" style="float: left; margin: 0px 10px 0px 0px;width: 300px; height: 346px;" />Proper Diet</strong></span></div> <div> Foods that are low in nutrients can deplete your body of energy and can also influence your mood resulting in depression, lack of concentration and mood swings. Avoid refined and processed foods like white breads, rice, and sugar. Try to consume more carbohydrates such as whole wheat breads, fruits and vegetables. Also intake lot of liquid such as juice or water as it will help you remain hydrated. Consumption of healthy foods will provide your body and mind with nutrients, and soothe your blood sugar and energy levels.</div> <div> </div> <div> <span style="font-size:14px;"><strong>Fitness or Exercise</strong></span></div> <div> Exercise is immensely helpful for alleviating stress in your life. Physical activity stimulatesdifferent brain chemicalsthat can make you feel happier and more relaxed. Exercise boosts up energy and helps to remain active throughout the day. It increases your metabolism. Exercise also helps your mind by discharging “endorphins” that improve your mood.</div> <div> </div> <div> <span style="font-size:14px;"><strong>Pamper yourself </strong></span></div> <div> It is a must to take special care of your skin during winter because skin becomes dry and dull in this season. Apply moisturizers to soften your skin. To avoid skin cracks you can also apply glycerin and petroleum jelly before going to bed. Normally, people don’t use sunscreen during winter but this is a wrong tendency. Your skin can get sunburns even during winter. </div> <div> </div> <div> <span style="font-size:14px;"><strong>Follow the Sun</strong></span></div> <div> Deficiency of sunlight can make you feel depressed. You can get rid of winter blues by spending maximum time in sunlight. It is considered equally important as exercise, for it helps in elevating mood. Sun is a rich source of vitamin D. Vitamin D can decrease your chances of catching a cold or flu, enhance the immune system and keep appetite controlled.</div>', 'published' => true, 'created' => '2014-01-21', 'modified' => '2014-01-22', 'keywords' => 'the corporate weekly from Nepal, nepali corporate events – news – interviews – reviews, nepali corporate focus, nepali corporate status and news, news from nepali corporate industry, corporate happenings – events – news from nepal', 'description' => 'Season often plays a major role in changing human mood. Every season has its own impact on the human mind depending on the nature of an individual. As such, some people find winter gloomy. It is a season of the year when climate is harsh and cold. With the days becoming shorter and nights becoming longer and colder, people who are normally happy also start feeling little down or upset.Many people feel low and drowsy during winters. In winter, people normally lack motivation and energy levels also lessen in comparison to other season. Feeling low during winters is so common and this phenomenon iscommonly referred to as “winter blues”. Winter Blues is sometimes portrayed as depression for it brings in feelings like frustration, sadness, disappointment and indecisiveness in individuals.', 'sortorder' => '2332', 'image' => null, 'article_date' => '0000-00-00 00:00:00', 'homepage' => false, 'breaking_news' => false, 'main_news' => false, 'in_scroller' => false, 'user_id' => '0' ) ), (int) 14 => array( 'Article' => array( 'id' => '2489', 'article_category_id' => '150', 'title' => 'Business Briefs (20 - 26 January 2014)', 'sub_title' => '', 'summary' => null, 'content' => '<div> <span style="font-size:14px;"><strong>Toyota Hiace with New Engine</strong></span></div> <div> United Traders Syndicate Pvt Ltd has introduced Toyota Hiace with a new 2.5 litre, 16 valve DOHC Common Rail Turbo Diesel engine. According to the company, the new engine offers a balance between power and fuel efficiency. Apart from the new engine, Hiace comes with features like low engine noise, reduced weight and is highly durable and reliable, says a statement from the company. </div> <div> </div> <div> <span style="font-size:14px;"><strong>Jagdamba Steel’s Salaam Idea Contest</strong></span></div> <div> Jagdamba Steels Private Limited has launched a Facebook contest named Salaam Idea Contest. In this contest, participants are required to upload a picture in which TMT Steel Bar is used for any purpose other than construction or in tool making in the official Facebook Page of Jagdamba Steels. The participant with maximum number of likes will be declared the winner and will win a new Mahindra Rodeo RZ scooter. The contest will run for a month. </div> <div> </div> <div> <span style="font-size:14px;"><strong>Berger Silk Range Launched </strong></span></div> <div> Berger and Jensen Nepal Pvt Ltd has launched Berger Silk premium paint in Nepal. According to the company, Silk offers better shine and colour, and is one of the most luxurious offering from Berger. The company has also claimed that the paint is one of the safest emulsions in market as it is free from heavy metals like lead, mercury and chromium. Silk is endorsed by popular Bollywood actress Katrina Kaif. </div> <div> </div> <div> <span style="font-size:14px;"><strong>Shikhar Cement Gets NS Mark</strong></span></div> <div> Shikhar Cement, a product of Star Cement Industry Pvt Ltd has received NS Certification. Nepal Bureau of Standards and Metrology has awarded the certification based on the quality and manufacturing process of the cement. Star Cement Industry has been manufacturing cement since last eight years. </div> <div> </div> <div> <strong>Avanish Distillery launches Striker </strong></div> <div> Avanish Distillery Pvt Ltd has introduced its first product Striker, apple flavoured liquor in the market. According to the company, Striker is made from clean and pure water, and has passed through strict quality control. The company will also be producing vodkas, rums, whiskeys and gins in near future.</div>', 'published' => true, 'created' => '2014-01-21', 'modified' => '2014-01-22', 'keywords' => 'the corporate weekly from Nepal, nepali corporate events – news – interviews – reviews, nepali corporate focus, nepali corporate status and news, news from nepali corporate industry, corporate happenings – events – news from nepal', 'description' => 'United Traders Syndicate Pvt Ltd has introduced Toyota Hiace with a new 2.5 litre, 16 valve DOHC Common Rail Turbo Diesel engine. According to the company, the new engine offers a balance between power and fuel efficiency. Apart from the new engine, Hiace comes with features like low engine noise, reduced weight and is highly durable and reliable, says a statement from the company.', 'sortorder' => '2331', 'image' => null, 'article_date' => '0000-00-00 00:00:00', 'homepage' => false, 'breaking_news' => false, 'main_news' => false, 'in_scroller' => false, 'user_id' => '0' ) ) ) $current_user = null $logged_in = false $xml = falseinclude - APP/View/Elements/side_bar.ctp, line 133 View::_evaluate() - CORE/Cake/View/View.php, line 971 View::_render() - CORE/Cake/View/View.php, line 933 View::_renderElement() - CORE/Cake/View/View.php, line 1224 View::element() - CORE/Cake/View/View.php, line 418 include - APP/View/Articles/index.ctp, line 157 View::_evaluate() - CORE/Cake/View/View.php, line 971 View::_render() - CORE/Cake/View/View.php, line 933 View::render() - CORE/Cake/View/View.php, line 473 Controller::render() - CORE/Cake/Controller/Controller.php, line 968 Dispatcher::_invoke() - CORE/Cake/Routing/Dispatcher.php, line 200 Dispatcher::dispatch() - CORE/Cake/Routing/Dispatcher.php, line 167 [main] - APP/webroot/index.php, line 117
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margin: 0px 10px 0px 0px; width: 80px; height: 97px;" />“This budget will be fully accepted by the coming government.”</strong></span></div> <div> <strong>Shanker Prasad Koirala,</strong> Minister of Finance, Industry and Commerce and Supplies, assuring that the current fiscal budget will be happily accepted by the new government to be formed after elections. </div> <div> </div> <div> </div> <div> </div> <div> <span style="font-size: 16px;"><strong><img alt="" src="/userfiles/images/up%20(Copy).jpg" style="float: left; margin: 0px 10px 0px 0px; width: 80px; height: 97px;" />“The Constituent Assembly’s second episode is supposed to trigger economic development.”</strong></span></div> <div> <strong>Upendra Poudyal,</strong> Vice President, of Nepal Bankers’ Association expressing hope that the election would bring in political stability and encourage economic development.</div> <div> </div> <div> </div> <div> </div> <div> <span style="font-size: 16px;"><strong><img alt="" src="/userfiles/images/yk%20(Copy).jpg" style="float: left; margin: 0px 10px 0px 0px; width: 80px; height: 97px;" />“Along with implementation of monetary policy, central banks’ roles have extended to stabilising the financial sector and contributing to the national economic development.”</strong></span></div> <div> <strong>Dr Yubaraj Khatiwada,</strong> Governor of Nepal Rastra Bank mentioning that roles of central banks around the world have increased in the post global economic crisis era.</div> <div> </div> <div> </div> <div> <strong style="font-size: 16px;"><img alt="" src="/userfiles/images/sv%20(Copy)(1).jpg" style="float: left; margin: 0px 10px 0px 0px; width: 80px; height: 97px;" /></strong></div> <div> <span style="font-size: 16px;"><strong>“The private sector will defy strikes.”</strong></span></div> <div> <strong>Suraj Vaidya</strong>, President of Federation of Nepalese Chambers of Commerce and Industry (FNCCI) stating that the private sector will defy any strikes organised by political parties.</div> <div> </div> <div> </div> <div> </div> <div> </div> <div> <span style="font-size: 16px;"><strong><img alt="" src="/userfiles/images/abp%20(Copy).jpg" style="float: left; margin: 0px 10px 0px 0px; width: 80px; height: 97px;" />“Think prosperity, think welfare and shun strikes.”</strong></span></div> <div> <strong>Ajay Bahadur Pradhanang,</strong> President of Nepal Young Entrepreneur’s Forum (NYEF), suggesting political parties to shun politics and prioritise national priorities and common welfare.</div>', 'published' => true, 'created' => '2014-01-26', 'modified' => '2014-01-27', 'keywords' => 'new business age voices news & articles, voices news & articles from new business age nepal, voices headlines from nepal, current and latest voices news from nepal, economic news from nepal, nepali voices economic news and events, ongoing voices news of nepal', 'description' => '“The Constituent Assembly’s second episode is supposed to trigger economic development.”', 'sortorder' => '2346', 'image' => null, 'article_date' => '0000-00-00 00:00:00', 'homepage' => false, 'breaking_news' => false, 'main_news' => false, 'in_scroller' => false, 'user_id' => '0' ) ), (int) 1 => array( 'Article' => array( 'id' => '2477', 'article_category_id' => '202', 'title' => 'A Voracious Reader', 'sub_title' => '', 'summary' => null, 'content' => '<div> </div> <div> <strong>--By TC Correspondent</strong></div> <div> </div> <div> Krishna Gyawali, Secretary at the Ministry of Industries (MoI), is a person who lives life in a simple manner. He describes himself as a positive person and loves to be viewed as a person with a clean-image. He follows Mahamta Gandhi’s philosophy of ‘Simple Living, High Thinking’ and tries to translate it in his lifestyle. Life, according to him, has to be taken easily and no one should be over-ambitious. “A person who is over-ambitious often fails to enjoy the simplicity of life,” says Gyawali. He further adds, “Accepting the people and situation as they are, makes life beautiful.”</div> <div> </div> <div> Gyawali loves to walk and often goes for hiking. He is a nature-lover and loves peaceful places. He is equally fascinated by cinemas and takes reading as his utmost hobby. He loves to spend his leisure time discussing political and social issues with like-minded people. He equally loves to listen to music and regards sleeping to be his favourite time-pass. However, he holds a strong dislike towards playing cards.</div> <div> </div> <div> Gyawali is a voracious reader. He is a fiction lover and believes that fiction has the power to take the reader to a different world. Likewise, he also reads philosophical books and biographies. He loves the work of Shankar Lamichhane and Bhupi Sherchan. But since his childhood, he has never liked Maths and Science. Gyawali’s favourite book is ‘Nepal’s Failed Development’ by Devendra Raj Pandey. Currently he is reading ‘India And Its Contradictions’ by Amatya Sen and Jean Drèze.</div> <div> </div> <div> Gyawali is a balanced person. He finds no difficulty in managing his professional and family life. He believes that the only way to balance these two is to take them together. “Taking work as fun is the way to find peace even while working,” he says. He suggests everyone to have positive attitude towards work to enjoy professional life. </div> <div> </div> <div> Though Gyawali wishes he had some more free time for himself and his family, and though he wishes for two day weekend holidays, he believes that public holidays are way too much in number and should be decreased. </div> <div> </div> <div> Gyawali loves visiting new places. He has been to many places in Nepal and describes Nepal as a place blessed by nature.He recalls visiting beautiful places like- Mustang, Pokhara, Chitwan, Swargadwari etc with his family members. Besides that he has also been to Pakistan and India and remembers these places to be also very beautiful. Gyawali recalls Disney land of Paris to be one of the most fascinating holiday destinations. </div> <div> </div> <div> Gyawali aspires to write two books in his lifetime. He wants to write a novel that reflects the reality of society. He also wants to give it a personal touch by adding elements of his life. Likewise, he wants to write a book that focuses on Nepal’s poverty and prosperity and wants to link it with Nepal’s development. Gyawali considers B.P Koirala, Nelson Mandela and his father to be his inspirational figures.</div> <div> </div> <div> Gyawali believes in Rajnish’s saying of being happy with what you have. His motto in life is to be happy and see everyone around him happy. He encourages everyone to be dutiful towards the nation and asks them to be service-oriented.</div>', 'published' => true, 'created' => '2014-01-20', 'modified' => '2014-01-27', 'keywords' => 'the corporate weekly from Nepal, nepali corporate events – news – interviews – reviews, nepali corporate focus, nepali corporate status and news, news from nepali corporate industry, corporate happenings – events – news from nepal', 'description' => 'Krishna Gyawali, Secretary at the Ministry of Industries (MoI), is a person who lives life in a simple manner. He describes himself as a positive person and loves to be viewed as a person with a clean-image. He follows Mahamta Gandhi’s philosophy of ‘Simple Living, High Thinking’ and tries to translate it in his lifestyle. Life, according to him, has to be taken easily and no one should be over-ambitious. “A person who is over-ambitious often fails to enjoy the simplicity of life,” says Gyawali. He further adds, “Accepting the people and situation as they are, makes life beautiful.”', 'sortorder' => '2345', 'image' => null, 'article_date' => '0000-00-00 00:00:00', 'homepage' => false, 'breaking_news' => false, 'main_news' => false, 'in_scroller' => false, 'user_id' => '0' ) ), (int) 2 => array( 'Article' => array( 'id' => '2502', 'article_category_id' => '91', 'title' => 'NSBM Takes Initiative For Int’l Quality Certification Of Domestic Goods And Services', 'sub_title' => '', 'summary' => null, 'content' => '<div> <strong>--By TC Correspondent </strong></div> <div> </div> <div> Nepal has taken initiative to start the international quality certification of the goods and services produced in the country. Along with the preparation to establish the National Accreditation Focal Point (NAFP), the Nepal Bureau of Standards and Metrology (NSBM) has taken the initiative to start the international quality certification within the nation itself, says, Romi Manandhar , Deputy Director General at the Bureau. Currently different organizations are taking their own initiative for certification.</div> <div> </div> <div> The Bureau is planning to establish NAFP in collaboration with India’s National Accreditation Board for Certification Bodies (NABCB). According to Manandhar, an agreement to this effect was signed between the NSBM and NABCB on last Wednesday (January 22). She also informed The Corporate that NAFP would request NABCB for quality certification. “As there is no separate body for [international] quality certification at the Bureau, we have signed an agreement with NABCB,” she added.</div> <div> </div> <div> The establishment of NAFP will help reduce the international quality certification cost of Nepali goods and services and will ease the entire process of quality certification, according to Manandhar. The NSBM is preparing to make a two-year work plan for NAFP. However, it’s going to take a few months before the NAFP starts working for international quality certification. </div> <div> </div> <div> For the time being, the office of NAFP will be located on the NSBM premises.</div>', 'published' => true, 'created' => '2014-01-26', 'modified' => '2014-01-26', 'keywords' => 'the corporate weekly from Nepal, nepali corporate events – news – interviews – reviews, nepali corporate focus, nepali corporate status and news, news from nepali corporate industry, corporate happenings – events – news from nepal', 'description' => 'Nepal has taken initiative to start the international quality certification of the goods and services produced in the country. Along with the preparation to establish the National Accreditation Focal Point (NAFP), the Nepal Bureau of Standards and Metrology (NSBM) has taken the initiative to start the international quality certification within the nation itself, says, Romi Manandhar , Deputy Director General at the Bureau. Currently different organizations are taking their own initiative for certification.', 'sortorder' => '2344', 'image' => null, 'article_date' => '0000-00-00 00:00:00', 'homepage' => false, 'breaking_news' => false, 'main_news' => false, 'in_scroller' => false, 'user_id' => '0' ) ), (int) 3 => array( 'Article' => array( 'id' => '2496', 'article_category_id' => '37', 'title' => 'Nepal’s Macroeconomic Challenges In 2014', 'sub_title' => '', 'summary' => null, 'content' => '<div> </div> <div> </div> <div> <strong>--Dr Rewat Bahadur Karki</strong></div> <div> </div> <div> After the second democratic movement in FY 2007/08, Nepali economy recorded rosy picture including higher GDP growth of 5.8 percent. However, after the constituent assembly (CA) election in 2009 macroeconomic situation went on declining with low growth mainly due to uncertainty of economic policy and deteriorating investment environment. But pre-last year -2011/12 was exceptional i.e. better along with moderate growth of 4.5 percent, the highest in the last five years primarily because of windfall (exogenous) gain caused by weather and remittance, while last year (2012/13)’s performance is poor with the lowest growth 3.5 percent according to the estimates of Central Bureau of Statistics (CBS), and double digit inflation. </div> <div> </div> <div> Analyzing last year’s situation in brief, efforts have been made to estimate and analyze this fiscal year’ macroeconomic scenario mainly comprising of real sector and price, monetary, fiscal and external sectors based on realistic approach. In FY 2013/14, following six strong bases/assumptions indicate rosy macro economic situation.</div> <div> </div> <div> 1. <span class="Apple-tab-span" style="white-space: pre;"> </span>The current non political government has announced next three year plan (starting from this FY-2013/14) with a growth of 6 percent by fixing the target of upgrading Nepal to developing country from low income country within 10 years as against the UN target of 18 years. The government has announced an ambitious budget in this line too.</div> <div> </div> <div> 2. <span class="Apple-tab-span" style="white-space: pre;"> </span>The government has made its efforts to present the pro-productive and investment-friendly budget instead of loading it populist programmes.</div> <div> </div> <div> 3. <span class="Apple-tab-span" style="white-space: pre;"> </span>The full budget, despite being an election budget, which has come without any disturbance since the first CA election in 2008 AD, has exerted some positive impact in the economy</div> <div> </div> <div> 4. <span class="Apple-tab-span" style="white-space: pre;"> </span>There will be positive impacts in the Nepali economy from the slight improvement (from 3 percent to 3.2 percent in 2013) in world economy and also in neighbouring countries –India and China as forecast by IMF.</div> <div> </div> <div> 5. <span class="Apple-tab-span" style="white-space: pre;"> </span>The last budget as brought by this non-party government in early 2013 gave a clear-cut direction regarding adoption of liberal economic policy and important role of private sector in the economy and thus, has exerted a positive impact.</div> <div> </div> <div> 6. <span class="Apple-tab-span" style="white-space: pre;"> </span>Weather so far is favourable, which will have a positive impact on the economy.</div> <div> </div> <div> Nonetheless, there are following weak bases or assumptions, which will make the economic scenario weak.</div> <div> </div> <div> 1. <span class="Apple-tab-span" style="white-space: pre;"> </span>Although the election government brought an ambitious election budget it will have minimum impact on economic growth and will instead accelerate inflation</div> <div> </div> <div> 2. <span class="Apple-tab-span" style="white-space: pre;"> </span>IMF has forecast that Nepal’s macroeconomic situation would not improve significantly for the coming five years.</div> <div> </div> <div> 3. <span class="Apple-tab-span" style="white-space: pre;"> </span>Since the first CA election, highest growth of 4.5 percent was recorded last year whereas average growth of last three-year plan is less than four percent as against 5.5 per annual average target. </div> <div> </div> <div> 4. <span class="Apple-tab-span" style="white-space: pre;"> </span>Absorptive capacity for capital expenditure is very poor in Nepal.</div> <div> </div> <div> 5. <span class="Apple-tab-span" style="white-space: pre;"> </span>Unfavourable investment climate due to some extremist political parties and their affiliate organizations (which are against investment), and acute problems relating to load shedding, rigid labour laws, infrastructures etc.</div> <div> </div> <div> 6. <span class="Apple-tab-span" style="white-space: pre;"> </span>Results of the second CA election, held peacefully in Marga 2070, has brought in Nepali Congress, credited for introducing liberal economic policy in the 90s, as the largest party. This is expected to bring a positive effect on the economy.</div> <div> </div> <div> Based on the above mentioned strong and weak aspect for the estimate, a midway analysis/estimate, which gives the realistic picture, has been made in this article. During 2013/14, some macroeconomic indicators will remain better than that of last year. GDP is estimated to increase from 4.5 percent to a maximum of 5 percent as agricultural sector, the mainstay of the economy, is estimated to grow 3-3.5 percent due to favourable weather condition. Situation of summer crops, mainly paddy and maize, seems better this year. Production of paddy is estimated to have increased by more than 10 percent, compared to the sharp decline of 14 percent, last year. </div> <div> </div> <div> With regard to non agricultural sector, it will record around 5.5 percent growth, higher than last year’s 5 percent. The manufacturing sector will move up from 1.6 percent to 3 percent as investment climate is expected to improve slightly despite election year. Similarly, trade sector’s growth will shoot up due to the sharp import growth, while other sub-sectors of this sector will remain normal. This growth is supported by high ratio of fixed investment (fixed capital formation) to GDP, which is estimated to rise to 24 percent due to higher capital expenditure as a result of full-fledged budget presented by this non-party government.</div> <div> </div> <div> <img alt="Economy and Policy" src="/userfiles/images/ep2%20(Copy)(1).jpg" style="width: 550px; height: 321px; margin-left: 10px; margin-right: 10px;" /></div> <div> </div> <div> The inflation, which rose almost by two digit i.e. 9.9 percent last year and has increased at the rate of 10percent during the first four months of this fiscal year (2013/14), is estimated go up annually to 12 percent, which will be very close to the level reached in 2008/09 (13 percent). Being an election year, current expenditure has shot up with remarkable rise in election budget along with sharp rise in private and informal expenditure. The sharp rise in salary (18 percent) and provision of Rs. 1000allowance to the government employees, coupled with sharp appreciation of the American Dollar against Rupee, will lead to high inflationary pressure. Despite higher estimated GDP growth this year, higher money supply caused by above factors will lead to high inflation of 12 percent this fiscal year. Containing the inflationary pressure this year is a big challenge to the authorities. </div> <div> </div> <div> In terms of government finance, the non-political government has been able to bring the budget on track despite late in the third quarter of last fiscal year-2012/13. Last year, total revised budget was around Rs.370 billion but due to substantial election expenditure as well as full-fledged budget, this year’s total budget estimate is Rs. 517 billion. Government estimates forecast capital expenditure to rise from around Rs. 55 billion level to Rs. 85 billion this year, while Rs. 78.7 billion has been set aside for financial provision. </div> <div> </div> <div> Although government has given priority to enhance capital expenditure, such expenditure is just 9 percent of the budgeted total capital expenditure in the first five months of this fiscal year (2013/14), while regular expenditure is almost 30 percent in this period. This trend shows that though the capital expenditure will be far below the target, the regular expenditure can cross the target. With the sharp rise in import, the import-based total revenue is estimated to rise by more than 20 percent this year. Thus, in the fiscal sector, increasing the capital expenditure and containing the regular expenditure will remain, as usual, the major challenge for the government. </div> <div> </div> <div> The election will have an expansionary effect on monetary sector. Both money supply (M1 and M2) will rise sharply than last year. Private sector’s credit growth level would be higher this year than the last year. Similarly, full budget will push the deposit growth and the broad money liquidity (M3). The financial sector has been facing instability, as more than a dozen of BFIs have been declared problematic and some even dissolved. Thus, stabilising and making this sector strong by strengthening the supervisory capacity of the central bank and by enhancing good governance in both the BFIs and the regulator, is a major challenge. </div> <div> </div> <div> The depressed share market has improved especially after the CA election’s result positioned Nepali Congress, known for its liberal economic policies, as the lead party in the CA. The share market on the whole will record bullish trend this year compared to last year. </div> <div> </div> <div> External sector in 2013/14 is estimated to register a weak scenario instead of registering any structural improvements. Rise in demand for consumer as well as capital goods, triggered by full-fledged budget and the election expenses, is likely to increase money supply as well as imports. As a result, imports will register sharp growth of 30 percent, and reach about one third of the GDP. Export is estimated to rise by 10-12 percent higher than the last year due to the sharp appreciation of US Dollar and the expected reforms in the export incentive. Due to high import and low export, export-import ratio will go down from current 14 percent to 11 percent, and the trade deficit to one-third of the GDP next year. Consequently, the steady rise in trade deficit will continue. High import growth will make large current account deficit this year. However, increased remittance, which is due to sharp Dollar appreciation, will ultimately lead to BOP surplus in 2013/14 but not in a significant manner. Thus strengthening the external sector, by decelerating the trade deficit through import management and export enhancement, will remain a major challenge. </div> <div> </div> <div> <img alt="Economy and Policy" src="/userfiles/images/ep3%20(Copy)(1).jpg" style="width: 550px; height: 413px; margin-left: 10px; margin-right: 10px;" /></div> <div> </div> <div> Considering the overall macroeconomic scenario and challenges, the new government, which is expected to form soon, should concentrate on economic agenda and in addressing major issues and challenges that Nepal’s economyis confronting. The elected government first of all has to pursuade all major political parties to form common economic agenda, and in setting future direction for the economy. Along with that the government should take initiatives to reform policies for addressing immediate economic concerns. In this regard, priority should be given to creating conducive environment for investment, reducing poverty, unemployment and bad governance. Along with that the government should provide special incentive to exports, energy and agriculture sector. It should focus on capacity enhancement of capital expenditure, containing double-digit inflation and decelerating trade deficit along with strengthening banking system. Nonetheless, along with the government, the private sector and other sections of societies should make collective efforts to strengthen the national economy.</div> <div> </div> <div> <em>(Writer is Expert Member at Securities Board of Nepal.)</em></div>', 'published' => true, 'created' => '2014-01-24', 'modified' => '2014-01-26', 'keywords' => 'new business age economy & policy news & articles, economy & policy news & articles from new business age nepal, economy & policy headlines from nepal, current and latest economy & policy news from nepal, economic news from nepal, nepali economy & policy economic news and events, ongoing economy', 'description' => 'After the second democratic movement in FY 2007/08, Nepali economy recorded rosy picture including higher GDP growth of 5.8 percent. However, after the constituent assembly (CA) election in 2009 macroeconomic situation went on declining with low growth mainly due to uncertainty of economic policy and deteriorating investment environment. But pre-last year -2011/12 was exceptional i.e. better along with moderate growth of 4.5 percent, the highest in the last five years primarily because of windfall (exogenous) gain caused by weather and remittance, while last year (2012/13)’s performance is poor with the lowest growth 3.5 percent according to the estimates of Central Bureau of Statistics (CBS), and double digit inflation.', 'sortorder' => '2343', 'image' => null, 'article_date' => '0000-00-00 00:00:00', 'homepage' => false, 'breaking_news' => false, 'main_news' => false, 'in_scroller' => false, 'user_id' => '0' ) ), (int) 4 => array( 'Article' => array( 'id' => '2449', 'article_category_id' => '91', 'title' => 'World Bank Forecasts 3.8 % Economic Growth Challenges Ahead', 'sub_title' => '', 'summary' => null, 'content' => '<div> </div> <div> <strong>--By TC Correspondent </strong></div> <div> </div> <div> The country will not regain strength in economic growth in 2014 despite a successful second Constituent Assembly (CA) election. </div> <div> </div> <div> The World Bank has estimated Nepal’s economic growth to be not more than 3.8 per cent in 2014, a marginal improvement compared to the 3.6 per cent growth rate in 2013. </div> <div> </div> <div> The data of Global Economic Prospectus 2014 report released by the World Bank clearly showed that the country has still a long way to go to achieve the growth target set by the government. According to the latest monetary policy, the government aims to achieve 5.5 per cent economic growth in 2014. </div> <div> </div> <div> <img alt="" src="/userfiles/images/twb%20(Copy).jpg" style="float: left; margin: 0px 10px 0px 0px; width: 200px; height: 95px;" />The growth forecast by the bank is a blow to the government’s plan of achieving 7 per cent economic growth. The forecast also showed that the government’s plan of improving its status as the developing country from existing Least Developed Country (LDC) is an ambitious plan which is hard to achieve any time soon as the World Bank has projected 4.4 per cent growth rate for 2015 and 5.2 for 2016.</div> <div> </div> <div> Experts, however, say that the country can do better than World Bank’s forecast if it aims at mobilizing more investment from the private sector. </div> <div> </div> <div> World Bank’s projection is based on the data of October 2013, said former finance secretary Rameshore Khanal. “The economic situation was better in December as the agriculture sector witnessed improvement including the production of crops.”</div> <div> </div> <div> We can say the World Bank’s data has underestimated the country’s economic situation to some extent, he claimed. “The country can achieve around 4.5 per cent economic growth in 2014.”</div> <div> </div> <div> We must focus on our major sectors such as agriculture, tourism, water resource if we are to attain speedy economic growth, said economist Dr Chiranjibi Nepal. </div> <div> </div> <div> Slower government expenditure – especially capital expenditure – despite timely monsoon that might boost agriculture growth, is still a big challenge for the country, he opined. “It is expected that the new government will bring policy to accelerate capital expenditure.”</div> <div> </div> <div> Taking the private sector into confidence is the only way out to propel economic growth while policy stability and endorsement of essential laws is a must to boost the private sector’s confidence, according to Khanal. </div> <div> </div> <div> The banking sector is still reluctant to invest in hydro projects and other big projects, he said. The government should identify the problems of banks and foster an environment where all banks can invest in big projects which will help boost economic activities.</div> <div> </div> <div> <img alt="" src="/userfiles/images/mn1%20(Copy).jpg" style="width: 550px; height: 397px; margin-left: 10px; margin-right: 10px;" /></div>', 'published' => true, 'created' => '2014-01-19', 'modified' => '2014-01-26', 'keywords' => 'the corporate weekly from Nepal, nepali corporate events – news – interviews – reviews, nepali corporate focus, nepali corporate status and news, news from nepali corporate industry, corporate happenings – events – news from nepal', 'description' => 'The country will not regain strength in economic growth in 2014 despite a successful second Constituent Assembly (CA) election. The World Bank has estimated Nepal’s economic growth to be not more than 3.8 per cent in 2014, a marginal improvement compared to the 3.6 per cent growth rate in 2013.', 'sortorder' => '2342', 'image' => null, 'article_date' => '0000-00-00 00:00:00', 'homepage' => false, 'breaking_news' => false, 'main_news' => false, 'in_scroller' => false, 'user_id' => '0' ) ), (int) 5 => array( 'Article' => array( 'id' => '2497', 'article_category_id' => '39', 'title' => 'Lomus : Looking Beyond Borders', 'sub_title' => '', 'summary' => null, 'content' => '<div> </div> <div> </div> <div> <strong>--By Gaurav Aryal</strong></div> <div> </div> <div> If the Nepali government allows Nepali ventures to invest in foreign land, Lomus Pharmaceuticals and the group of companies would be one of the top industrial houses to rejoice. Prabal Jung Pandey, Executive Director of the group says that he would be happy when his group would go beyond borders. He wishes to take Lomus Pharmaceuticals Pvt Ltd, the group’s flagship company and one of the leading pharmaceutical companies of Nepal, beyond borders.</div> <div> </div> <div> As a move towards this goal, the company is determined to increase the volume of its pharmaceutical products export to existing markets along with exploring new territories. According to Pandey, the company is exporting its products to four countries in Africa. “We will be exporting to Commonwealth of Independent States (CIS) countries soon. Necessary registration procedures have been completed and we are looking forward to exporting in large quantities,” he shared. </div> <div> </div> <div> Pandey thinks that once the company starts mass export of products, of the current production plants capacities would not be enough. He opines that establishing plants in other countries would be helpful to supply products to meet the demand. However, existing laws restrict Nepali companies from investing in foreign land. “The government should now think that the capable industries in Nepal should be allowed to invest in other countries. If someone is capable of investing abroad, and if s/he is working here successfully and if the profits come back to the country, there is no harm in allowing someone to invest abroad,” Pandey said arguing against the government’s restriction that is hindering the company’s expansion plan. </div> <div> </div> <div> He says that Lomus Pharmaceuticals has reached almost a saturation point in the Nepali market and with very little room for expansion. He further claims that the company leads Nepal’s pharmaceutical market with four per cent of the market share. </div> <div> </div> <table align="left" style="margin: 0px 10px 0px 0px;" width="25"> <tbody> <tr> <td> <img alt="Prabal Jung Pandey, Executive Director, Lomus Group" src="/userfiles/images/cf1%20(Copy)(3).jpg" style="border-width: 0px; border-style: solid; width: 200px; height: 238px;" /></td> </tr> <tr> <td bgcolor="#FFFFFF"> <div align="center"> <div> <strong>Prabal Jung Pandey</strong></div> <div> Executive Director</div> <div> Lomus Group</div> </div> </td> </tr> </tbody> </table> <div> <span style="font-size: 14px;"><strong>Group’s Inception</strong></span></div> <div> Lomus Pharmaceuticals is the first manufacturing venture of the group, started by Pradeep Jung Pandey, Vice President of Federation of Nepalese Chambers of Commerce and Industry (FNCCI) and father of Prabal Jung Pandey. Pandey gives credit to his father for establishing the company and taking it to the pinnacle. </div> <div> </div> <div> The company was established with its first factory at Gongabu in Kathmandu, 25 years ago. In its initial days, it used to produce around 40 pharmaceutical products. And, the group kept on taking gradual and careful steps for its expansion and growth. With a special focus on expanding the market, it kept on increasing the production capacity. A decade ago, a big move was made to establish a 15000 square feet production plant at Gothatar, one of the largest pharmaceuticals production units of the country.</div> <div> </div> <div> Pandeys always have had the belief that one should not be investing in a new venture unless the existing one is sustainable. “We do not believe in jumping into many ventures at once. We try to stabilise the existing one and keep it expanding so that it is self sustaining,” Pandey added.</div> <div> </div> <div> <span style="font-size: 14px;"><strong>The Expansion </strong></span></div> <div> The Pandey family came with its second venture 11 years ago - Cosmos Cement Industries Pvt Ltd. The company could not pick up immediately because of the ongoing armed conflict and the Madhesh movement that followed, recalls Pandey. The company was virtually in a status quo for almost five years after its establishment. The company is currently producing cement by grinding clinkers. However, it has plans to come up with its own clinker producing unit by utilising local raw material – limestone.</div> <div> </div> <div> Pandey reveals that as prerequisite of setting up a clinker production unit, two limestone mines are being excavated in Udaypur district. A feasibility study for setting up the plant has been completed and the essential land for it has been acquired after carrying out IEE and EIA. Likewise, another clinker producing unit is under construction in Janakpur. Initially this plant will be producing 700 tonnes of clinkers daily. Pandey says that once the unit completes its trial phase, its capacity will be increased gradually and is expected to reach 1200 tonnes per day within a year. He says that the plant will be catering to the high demand of cement in the eastern part of the country. Targeting this market, around nine months back, a cement factory with a production capacity of 400 tonnes per day was installed in Biratnagar. Similarly, one factory is under operation in Janakpur. The current expansion is being made with a total investment of Rs 1.5 billion.</div> <div> </div> <div> When the second generation businessmen in the Pandey family joined the business, set-up by their father, they took the business to new and varied sectors so that the three brothers can look after one of the sectors each. Now the group is involved in banking and financial sector, mining, cement production and pharmaceuticals.</div> <div> </div> <div> Pandey says that the group is willing to take pharmaceuticals and cement production companies to the next level in the near future. He reveals that the group is also planning to come with Ayurvedic medicines soon. These medicines will be branded uniquely and will be sold in the global market. Currently the group is employing 300 people in its group of companies other than financial institutions.</div> <div> </div> <div> <span style="font-size: 14px;"><strong>Branding Consolidation </strong></span></div> <div> The parent company of the group, Lomus Pharmaceuticals has become a well known brand name in the pharmaceutical industry. Pandey says that the recognition the company has got is because of the quality that the company has promised and delivered in its range of products. He says that the company does not compromise on quality and believes that products should be easily available at affordable price.</div> <div> </div> <div> Similarly, Tej Cement is a popular brand in the eastern Nepal. Popularity of this brand has encouraged the company to expand its production unit and add new factories. However the group has not yet given serious thoughts of branding the entire group under a consolidated name. Pandey hints the possibility of it in the future but not anytime soon.</div> <div> </div> <div> Pandey shares that all of the companies under the group are growing annually at a healthy rate of 20 per cent in average. The group registers an annual turnover of Rs 3 billion per year. He is quite satisfied with this progress but sees room for improvement. He adds, “I will be the happiest entrepreneur if we can make our name popular worldwide. I dream of making Lomus an international company and a brand name recognised everywhere.”</div> <div> <hr /> </div> <div style="text-align: center;"> <span style="font-size: 16px;"><strong>Core Sectors of the Group</strong></span></div> <div> </div> <div> <span style="font-size: 14px;"><strong>Pharmaceuticals</strong></span></div> <div> Pharmaceutical is one of the core areas of the group and the parent business for it. Lomus Pharmaceuticals Pvt Ltd is one of the market leaders in Nepal’s pharmaceuticals market. This company produces 400 products. However, its factory is operating for just 12 hours a day due to power supply problem. Apart from supplying its products to the general medicine market, the company also supplies to government.</div> <div> </div> <div> Cement and Mining Industry Cement production is one of the strong sectors of the group. The group has allocated two mining companies for its cement industries. Cosmos Quarries Pvt Ltd and Udaypur Mineral Tech are taking up the responsibility of limestone mining. However, the group is open for exploring new area for mining. Pandey sees potentials in copper and iron mining but transportation and electricity are the pre-requisites which he expects that the government should ensure.</div> <div> </div> <div> <span style="font-size: 14px;"><strong>Financial Sector</strong></span></div> <div> The group has presence in the banking and financial sector with three companies as one of the promoter shareholders. International Leasing and Finance Company Limited had a plan for upgrading to a commercial bank but could not do so in the lack of legal provision to do so. However, it has now plans to go for merger.</div> <div> </div> <div> Pandey says that merger talks are going with few financial institutions and he expects that these talks will conclude within the next five months. Apart from it, the group is involved with Citizens Bank International and Shikhar Insurance Company Limited. Similarly, the group has a presence in merchant banking sector through its Lomus Investment Co Pvt Ltd.</div>', 'published' => true, 'created' => '2014-01-24', 'modified' => '2014-01-26', 'keywords' => 'new business age corporate focus news & articles, corporate focus news & articles from new business age nepal, corporate focus headlines from nepal, current and latest corporate focus news from nepal, economic news from nepal, nepali corporate focus economic news and events, ongoing corporate foc', 'description' => 'Lomus Pharmaceuticals and the group of companies take every step carefully while investing in a new sector. The group, if allowed by the law, looks forward to invest abroad.', 'sortorder' => '2341', 'image' => null, 'article_date' => '0000-00-00 00:00:00', 'homepage' => false, 'breaking_news' => false, 'main_news' => false, 'in_scroller' => false, 'user_id' => '0' ) ), (int) 6 => array( 'Article' => array( 'id' => '2495', 'article_category_id' => '42', 'title' => 'Nepse Legs Up For The Next Bull Run', 'sub_title' => '', 'summary' => null, 'content' => '<div> <strong>--By Bikram Chitrakar</strong></div> <div> </div> <div> The Stock market of Nepal witnessed a strong unusual movement after completion of the second elections for Constitutional Assembly (CA) and announcement of the results. Investors’ sentiment was purely bullish and Nepse registered high trade volumes and frequent circuit breaks in the trading platform. The benchmark Nepse index skyrocketed by 150.07 points or 18.60% taking the secondary market to a 5-year high of 806.82 on December 18, 2013. The index was hovering around the same level in November 11, 2008. The final results of the CA elections further stimulated the stock market which had already leaped after the elections were over. Besides hope of political sustainability has improved the bullish sentiment leading the market to gain nothing like before. </div> <div> </div> <div> The gaining momentum has been supported by excess liquidity in the banking system despite the central banks several rounds of reverse repo operations with an aim of absorbing the excess liquidity from the market. Liquidity available with the investors at this time has also helped to boost the market as average daily turnover in Nepal Stock Exchange has now crossed Rs. 500 million. Likewise lack of potential investment opportunities in the real sectors has flooded fresh additional investments in the stock market. </div> <div> </div> <div> Following the excess liquidity in the financial system, cut in interest rates for deposit as well as lending by Banks and Financial Institutions (BFIs) and relative flexibility in share margin loan have also underpinned the recent growth in the country’s stock market. However informally it has been heard that Nepal Rastra Bank, the regulator of the country’s banking industry, is mooting introduction of some rigid measures on loan against share certificate. If so is the case, there may be some corrections in the market. </div> <div> </div> <div> <span style="font-size: 14px;"><strong>Performance by Sector</strong></span></div> <div> Following the previous trend, insurance sub-index topped the gaining chart with increase of 280.11 points for the period to rest at 1997.51. Hydropower sub-index added 248.03 points or 13.55% to settle at 1831.09. In the mean time, Hotel sub-index moved higher by 195.02 points to rest at 1100.64 on December 18, 2013. The Banking sub-index stepped up 192.84 points or 23.19 % to close at 831.66 while the sub-index of Development Banks registered a gain of 97.25 points for the period. The ‘Others’ sub-index accumulating the heavy scrip of Nepal Telecom surged 54.03 points to settle at 822.38.</div> <div> </div> <div> Sensitive index that measures the performance of 120 ‘A’ class companies listed at the secondary market moved higher by 28.78 points or 15.70% to settle at 183.28 while the float index calculated on the basis of real transaction of listed securities went uphill by 8.71 points or 16.37% to close at 53.21. Total of Rs. 7390 million turnover was realized during the review period from the business of 21.16 million units of share via 48,940 transactions.</div> <div> </div> <div> During the period of November 24 to December 18, 2013, commercial banks accounted the most of the turnover covering 70.84% of the total. In the mean time, Insurance sector covered 11.04% and development bank 7.71% followed by hydropower sector with 7.06% and the rest of the sectors made up the remaining portion. </div> <div> Technically, the Simple Moving Average (SMA) has dominated both 30 days SMA and 200 days SMA. Unusual strong growth in index has invited correction at this level. Hence cautious observation is required at this level to determine support and resistance regions. </div> <div style="text-align: right;"> <em>(Chitrakar is a Stock Analyst with Jamb Technologies Pvt Ltd.)</em></div> <div> <img alt="Stock taking" src="/userfiles/images/stock%20(Copy)%20(Copy).jpg" style="width: 550px; height: 208px; margin-left: 10px; margin-right: 10px;" /></div>', 'published' => true, 'created' => '2014-01-24', 'modified' => '2014-01-26', 'keywords' => 'new business age stock taking news & articles, stock taking news & articles from new business age nepal, stock taking headlines from nepal, current and latest stock taking news from nepal, economic news from nepal, nepali stock taking economic news and events, ongoing stock taking news of nepal', 'description' => 'The Stock market of Nepal witnessed a strong unusual movement after completion of the second elections for Constitutional Assembly (CA) and announcement of the results. Investors’ sentiment was purely bullish and Nepse registered high trade volumes and frequent circuit breaks in the trading platform. The benchmark Nepse index skyrocketed by 150.07 points or 18.60% taking the secondary market to a 5-year high of 806.82 on December 18, 2013. The index was hovering around the same level in November 11, 2008. The final results of the CA elections further stimulated the stock market which had already leaped after the elections were over. Besides hope of political sustainability has improved the bullish sentiment leading the market to gain nothing like before.', 'sortorder' => '2340', 'image' => null, 'article_date' => '0000-00-00 00:00:00', 'homepage' => false, 'breaking_news' => false, 'main_news' => false, 'in_scroller' => false, 'user_id' => '0' ) ), (int) 7 => array( 'Article' => array( 'id' => '2494', 'article_category_id' => '41', 'title' => 'Alternative Energy Replacing Traditional Ones', 'sub_title' => '', 'summary' => null, 'content' => '<div> </div> <div> </div> <div> <strong>--By Suraksha Adhikari</strong></div> <div> </div> <div> A country endowed with immense hydropower potential has been facing an acute energy crisis. Despite Nepal’s potential wealth in solar energy and hydropower the development of these energies has not kept pace with population growth. The little renewable energy that has been harnessed is poorly distributed due to crumbling infrastructure that is incapable of delivering, for example, parts for wind turbines. </div> <div> </div> <div> More than half of the country’s households - almost all in urban and semi-urban areas - are connected to the national electricity grid. But 80 percent of the population is rural, and in these areas, less than one-third has electricity. With grid extension to the country’s hilly and mountainous areas prohibitively expensive, officials are looking to off-grid renewable energy alternatives. </div> <div> </div> <div> Govinda Raj Pokharel, Executive Director of Alternative Energy Promotion Centre (AEPC) said, “We are using alternative energy mainly for rural electrification that provides an easy access of clean energy to rural area. But now we are moving to urban areas with the use of solar and utilization of bio degradable waste.”</div> <div> </div> <div> Talking about the consumption of renewable energy in Nepal he said, “Quantity-wise, renewable energy is covering 1 per cent of total population of the country. Our energy comes from bio-mass which is consumed by around 87 per cent of the total household.” But in terms of number of population around 14 percent of total population is using renewable energy to get light, Pokharel added.</div> <div> </div> <div> Alternative Energy Promotion Center is a national focal government organization for promoting renewable and alternative energy technologies in Nepal. AEPC is acting as an intermediary institution between the operational level i.e. NGOs/private promoters of renewable energy and the policy decision levels in relevant ministries. AEPC's activities include renewable energy policy formulation, planning and facilitating the implementation of the policies/plans, standardization, quality control and monitoring. </div> <div> </div> <div> Pokharel further added the role of alternative energy promotion sector is mainly to promote the use of renewable energy and our approach is public private partnership. “We work jointly with private organizations that are responsible to deliver and supply energy to the people and we work to fulfill demands by creating awareness and other activities, ”he said. </div> <div> </div> <div> <span style="font-size: 14px;"><strong>Resource Potential</strong></span></div> <div> There are abundantly available sources for mini and micro hydro power, enough solar radiation, good potential of wind in selected areas and other biomass based resources to meet the energy need of our country.</div> <div> </div> <div> Mini-Micro and Pico-hydro up to 100kW can be developed in a short period of time to electrify the villages. The existing total installed capacity of micro hydro projects is about 20 MW. However, altogether mini micro-hydro can generate about 10,000 MW of power in Nepal. </div> <div> </div> <div> Nepal receives ample solar radiation as it is located in favorable latitude. With National average sunshine hours of 6.8/day and solar insolation intensity of about 4.7 kWh/m2/day, there is a huge potential for large-scale development of solar energy technologies in the country. Presently solar water heater systems have been fully commercialized and have been widely installed in the country. </div> <div> </div> <div> About 1.5 million households can install domestic biogas plants based on animal dung. Another potential application of biogas technology in Nepal is to manage household solid waste in urban and peri-urban areas. There is also a significant potential of medium sized biogas plants suitable for SMEs, mainly in the dairy farms, poultry farms where biogas can be used directly for heat or for electricity generation that can replace diesel or other forms of fossil fuels. The other biomass waste having energy potential includes municipal solid waste. Over 1,350 tons of solid waste is generated across the 58 municipalities in Nepal. About 70% of municipal (solid) waste is biodegradable, and this waste can be used to generate energy. It is estimated that 50 million kWh can be generated per year from the total waste generated in these municipalities.</div> <div> </div> <div> <span style="font-size: 14px;"><strong>Why Alternative Energy in Nepal?</strong></span></div> <div> Focusing on the importance of alternative energy Pokharel said that alternative energy is important in Nepal mainly to address and reduce development disparity considering the people in rural areas also should have clean light as the people enjoy in urban areas. </div> <div> </div> <div> Similarly Nepal has diversified land structure from plain to high Himalayas and also settlement pattern is scattered and sparse. National grid extension in some places is not economically feasible. Big hydro projects need a huge investment and all the petroleum products consumed in Nepal are imported from India or overseas in the refined form for direct consumption, which is causing the economic burden for the country. </div> <div> </div> <div> The high potentiality of the renewable energy resources available in the country is the most appropriate option for Nepal. It also helps to reduce the dependency on the traditional biomass energy resources and fossil fuels and to manage the energy crisis of the nation. This ultimately helps to minimize the degradation of the environment.</div> <div> </div> <div> Alternative energy helps in enhancing energy security and promoting energy mix in the country. </div> <div> </div> <div> <span style="font-size: 14px;"><strong>Cost Effective</strong></span></div> <div> The experts of alternative energy claim that the alternative energy use costs cheaperthan traditional sources. Though initial investment cost of alternative energy technologies are expensive compared to the other traditional sources of energy. In the long-run alternative energy is mostly cheaper than the traditional sources because alternative source is almost free but you have to pay always for traditional source. Hence, if the financial mechanism can be developed in such a way that users can pay in installment basis by mortgaging house, vehicle, etc., than users will not feel initial financial burden.</div> <div> </div> <div> <span style="font-size: 14px;"><strong>Popularity of Alternative Energy</strong></span></div> <div> In Nepal, depending upon the geographical and type of energy required, solar is popular for lighting purpose, mini micro hydro is popular in hilly areas, biogas for cooking purpose. Around 700,000 households use biogas, 500,000 use solar and various other forms of alternative energy.</div> <div> </div> <div> There is no doubt regarding the fact that solar energy based technologies such as Solar Photovoltaic or Solar Thermal systems are the best substitutes. Right now, in the urban sector, individual households are opting for small-scale Solar PV solutions for domestic use. Even institutions like banks, corporate offices, and hospitals have adopted larger size system to meet their immediate energy needs. Besides Solar PV, which generates direct electricity; Solar Thermal systems also play a crucial role in minimizing use of electricity from national grid as well as reduce dependency on imported petroleum products.</div> <div> </div> <div> “Solar can now compete with hydropower,” Pokharel added. We are targeting to provide cooking stoves to 2 million and lighting to one million, he said. </div> <div> </div> <div> <span style="font-size: 14px;"><strong>Issues in this sector</strong></span></div> <div> Though alternative energy sources are focused on electrifying rural areas, Pokhrel says that the efforts made are not sufficient. There is still lack of alternative energy usage in the rural areas, which needs to be fulfilled. </div> <div> </div> <div> “We are not able to provide full financing for the installation of the alternative energy systems and this affects poor and rural people,” he added.</div> <div> </div> <div> Elaborating on the effort of AEPC in producing energy from sugarcane extracts, Pokharel said, “We are also trying to produce energy blending ethanol in petrol but lack of mandatory policy from government has restrained this effort. At least 5 per cent of Nepal petrol consumption can be replaced with this.”</div>', 'published' => true, 'created' => '2014-01-24', 'modified' => '2014-01-26', 'keywords' => 'new business age sectoral news & articles, sectoral news & articles from new business age nepal, sectoral headlines from nepal, current and latest sectoral news from nepal, economic news from nepal, nepali sectoral economic news and events, ongoing sectoral news of nepal', 'description' => 'A country endowed with immense hydropower potential has been facing an acute energy crisis. Despite Nepal’s potential wealth in solar energy and hydropower the development of these energies has not kept pace with population growth. The little renewable energy that has been harnessed is poorly distributed due to crumbling infrastructure that is incapable of delivering, for example, parts for wind turbines.', 'sortorder' => '2339', 'image' => null, 'article_date' => '0000-00-00 00:00:00', 'homepage' => false, 'breaking_news' => false, 'main_news' => false, 'in_scroller' => false, 'user_id' => '0' ) ), (int) 8 => array( 'Article' => array( 'id' => '2492', 'article_category_id' => '46', 'title' => '“Situation Is Difficult In Nepal For The Manufacturing Sector To Prosper”', 'sub_title' => '', 'summary' => null, 'content' => '<div> </div> <div> </div> <div> <span style="font-size: 16px;">Kedia Organisation, the oldest and one of the most talked about business conglomerates of the country, has been practicing a synergistic combination of family ownership and professional management since 1909 A.D. Named after their fathers, Late Sundarmal Kedia and Late Ram Kumar Kedia, it was surely a turning point for the Kedias when the first foundation stone of their present day multimillion conglomerate was laid in the form of a small cloth trading business. The group envisions reaching the zenith and being a premium conglomerate through outstanding service performance and clear business vision. Manoj Kedia, Executive Director of Kedia International and Vice president of the Confederation of Nepalese Industries (CNI), talks with New Business Age’s Homnath Gaire and Upashana Neupane on the group’s journey in Nepal so far, role of the private sector in nation’s development and the group’s future plans. Excerpts:</span></div> <div> </div> <div> <span style="font-size: 14px;"><strong>How is the history of Kedia Group different from the general history of Nepal’s private sector?</strong></span></div> <div> Trading business in Nepal started along with the Kedia Family. Initially, Kedia family started its business as a cloth merchant with stores in Birgunj and Kathmandu that sold clothes imported from India. With initiation of Late Brij Lal Kedia we gradually expanded our business to food grains trading. It started small but as time progressed it expanded across Nepal. </div> <div> </div> <div> He used to collect food grains from every corner of the country and supply them to even remote areas that lacked transportation facilities. For the first time in Nepal, he fixed prices of food grains and at a certain point, even the Khadya Sansthan (government owned Nepal Food Corporation) fixed food grain prices by consulting him. Later he established rice mills, dal mills and many more food grain factories. He established Nepal’s first modern rice mill, Bhagwati Rice Mill. </div> <div> </div> <div> Later Shankar Lal Kedia expanded foothold in the manufacturing sector. He established factories related to steel furniture, stainless steel utensils, textile, umbrella, socks, wheat flour, corrugated steel, copper utensil etc. During that time the steel, textile, and corrugated sheet industries were pioneers in their respective fields in Nepal and they are the backbones of the present day Kedia Organisation.</div> <div> </div> <div> At the same time we also entered in general merchandising sector by importing goods from third countries and bulk-traded them in local market. Our imports included cloth, electronics, food items, medical equipment, household products, hardware, cement, sugar, and edible oil among others. We also exported rice to Tibet and pulses and lentils to Sri Lanka, Bangladesh and to some European countries. </div> <div> </div> <div> We established Caltex Company, a petrol pump agent in Nepal, and this is still in operation as Kedia Auto in Birgunj. </div> <div> </div> <div> Kedia Group also is one of the first industrial houses to advertise its products. We sponsored the “Sundar Sushil Sangeet”, a popular song-on-request programme aired on Radio Nepal, to promote our products. </div> <div> </div> <div> Amid this long list of successful ventures, we also had some disappointing projects. Though we had bagged the license to launch Coca Cola in Nepal, we had to drop the project in the last minute due to some partnership problems. In 2015 B.S. we had to give up the launch of an iron steel factory project, even though necessary equipment and machinery were imported, after King Mahendra dissolved the democratic government and assumed power. Similarly in 2036-2037 B.S. we had to pull back from establishing the Kedia Paper Industry</div> <div> </div> <div> <span style="font-size: 14px;"><strong>What is the present status of Kedia Group and how is it different from the overall situation of the private sector?</strong></span></div> <div> Despiteour engagement in diverse sectors, manufacturing sector is our major area. We have established ourselves in the cement, carpet, and the sugar industry. Recently we have started manufacturing PVC carpet and are upgrading production capacity of Indusankhar Sugar Mill, Nepal’s one of the oldest and leading sugar industries. </div> <div> </div> <div> In the past we invested in the banking and financial sector. We had invested in Siddhartha Insurance, Siddhartha Capital and Siddhartha Bank. </div> <div> </div> <div> Kedia Group has made some significant investment in the service sector and presently we run several schools and hospitals in the country. </div> <div> </div> <div> Along with bulk trading, Kedia Group has once invested in housing projects. And as part of its plan to expand its foothold, the group has made small investments in other sectors like hydropower for getting acquainted with them. </div> <div> </div> <div> <span style="font-size: 14px;"><strong>How is this conglomerate with interests in so diverse fields being managed and controlled?</strong></span></div> <div> We have a joint family and we have divided our tasks within our family members for various sectors. We work in our respective sectors. Our father’s generation is also actively involved in managing the business. </div> <div> </div> <div> In the recent years, Nepal’s private sector is diverting investments to service and trade sector from the manufacturing sector. What is the reason?</div> <div> Nepal is a market of its own kind. Situation is difficult here for the manufacturing sector to prosper. Power shortage, a major problem faced by this sector, has been one of the major causes for such decrease in investment in such sectors. Open import is another hindering factor. Nepali market is crowded with cheap products from China and India and it is very hard for domestic products to compete with imported products in the market, especially in terms of cost. As such, only ethnic Nepali products can sustain in the local market.</div> <div> </div> <div> Lack of skilled and productive manpower, unfriendly labour environment and decrease in agricultural production that has triggered increased imports of agro products, are other factors that are affecting the growth of the manufacturing industries in Nepal. </div> <div> </div> <div> <span style="font-size: 14px;"><strong><img alt="Manoj Kedia" src="/userfiles/images/inter1%20(Copy)(1).jpg" style="float: left; margin: 0px 10px 0px 0px;width: 300px; height: 321px;" />You are a vice-president of Confederation of Nepalese Industries (CNI) that specializes in the promotion of industries rather than trading. Why is not CNI doing something to put a stopper on the deindustrialization of Nepali economy?</strong></span></div> <div> This accusation is wrong. CNI has unwavering vision and mission to achieve. It was established to address private sector’s problems by promoting liberal policies.The organization believes that the country can achieve prosperity via private sector’s involvement in development activities. It has always focused on facilitating the activities of private sector.</div> <div> </div> <div> In reality, many of the genuine issues and demands raised by CNI for promoting private sector remain unaddressed due to concerned authorities’ reluctance. I am pretty confident that the private sector can make tangible impact if issues and demands raised by CNI are endorsed by the parliament.</div> <div> </div> <div> <span style="font-size: 14px;"><strong>You said Kedia Group is also entering the power generation sector. Would you please elaborate on this?</strong></span></div> <div> The entire industrial sector has been suffering from power deficit. Industrial sector incurs billions of losses due to it. It is a national problem and it is obvious that major business houses want to engage in the power generation business.</div> <div> </div> <div> Presently power/energy costs have increased steeply. Simultaneously, demand for power has also increased. Hydropower has high market potential. As we are aware, due to our inability to use our energy resources, we are purchasing energy from neighbouring countries in various forms like petrol, diesel and oil. Most of our financial resources, which we could have invested in productive sectors, are spent in purchasing energy. </div> <div> </div> <div> Hydropower projects need lots of investment. We need laws and policies friendly enough to attract FDI in that sector. So far, Kedia organisation has not made substantial investment in this sector. We have invested as shareholder in this sector to study the sectoral behaviour. </div> <div> </div> <div> <span style="font-size: 14px;"><strong>Why is the Kedia Group not generating power through cogeneration from its sugar mill and supplying it to the national grid?</strong></span></div> <div> We can produce 10 Mega Watt of electricity from cogeneration, that too when the country faces maximum power shortage. To produce power, we need huge investment for developing infrastructure. If such infrastructures are developed in all industries across the nation, 30 to 40 Mega Watt of electricity can be produced. It is far less costly than thermal power plants and other alternative means and takes less time to establish also. </div> <div> </div> <div> However, huge investment is required to develop necessary infrastructure for such a project. As policy keeps changing, it entails huge investment risks. Such risk can be only taken if the state formulates conducive policy and provides special incentives. Otherwise, as an entrepreneur, I would not risk my investment.</div> <div> </div> <div> Presently, waste from the paper mill remains unexploited. If government supports in setting up power plants, such wastes can be used to generate multifuel whenever the nation needs. </div> <div> </div> <div> <span style="font-size: 14px;"><strong>Despite being a major player in agro-processing industry why is the Kedia Group not building backward linkages with the farmers?</strong></span></div> <div> We have been coordinating with farmers. We regularly provide them with various skill-based trainings and loans too. We have set up Sugar Mill in Sarlahi district, the major sugarcane growing centre of the country, and it is an instance that reflects how we work in coordination with farmers. In addition to that, we have been actively engaged with farmers in the dairy business as well.</div> <div> </div> <div> <span style="font-size: 14px;"><strong>Now that the Constituent Assembly elections are over, how do you visualize the business scenario in the days ahead?</strong></span></div> <div> Democracy has to be institutionalised. Political issues have been settled and that marked the crossing of transitional politics. The rhetoric of transition politics should not be repeated and we should be optimistic of economic growth in the days ahead. Kedia Group is very hopeful of contributing to the overall development of the country.</div> <div> </div> <div> During the last half-decade, there have been many positive changes in the political regime. With the successful completion of second Constituent Assembly election, it’s time to focus on institutionalising the achievements.</div> <div> </div> <div> Now, political parties should prioritize national interests by brushing aside their partisan and personal interests and focus on formulating collective goals to achieve national economic growth. </div> <div> </div> <div> It’s an achievement for the private sector that almost all major political parties consider it as the backbone of the national economy. Unity in diversity is our speciality and Nepali leaders should translate this mantra into reality. They should prioritize economic prosperity in their political agenda. Nepali business won’t get good reputation in international market unless our economy is strong and self-reliant. It is possible and all we need is sincere commitment from our politicians.</div> <div> </div> <div> <span style="font-size: 14px;"><strong>What agenda would you like the upcoming government to focus on for the progress of business-economic field? </strong></span></div> <div> The government should show readiness to address some pending economic agenda. It should create environment whereby industries can be set up in every district. Local bodies should be given authority for deciding utilization of local resources. The central government should act as intermediary to mitigate problems faced by the private sector at the local level.</div> <div> </div> <div> Above all, state should ensure political stability and strong governance and ensure their commitment made in the last election to the general public of drafting and promulgating the new constitution within the promised time frame. Economic growth of the nation can sustain and progress only if the state and political actors act as strong catalyst and continue propelling it. </div> <div> </div> <div> <span style="font-size: 14px;"><strong>The manufacturing index for the last fiscal year and the trade statistics for the first four months of the current fiscal year show some positive indications of improvement over the previous year. How do you interpret this information?</strong></span></div> <div> It is too early to comment on this. We do not see any drastic changes in the manufacturing sector over the last fiscal year. There are several reasons for the said improvement of manufacturing index. Firstly there was comparatively better supply of electricity, and secondly political realm remained stable during the last fiscal year. Dollar revaluation also contributed much for the better performance in the exports trade. We had less volume of imports, that is the domestic market imported fewer consignments in the last fiscal year, and this helped show improvement in the growth rate of the trade deficit. But we should remember that the trade deficit is still increasing though in slower rate.</div> <div> </div> <div> <span style="font-size: 14px;"><strong>Where do you see Kedia Group of Industries in five years of time?</strong></span></div> <div> In five years, we envision our involvement in diverse business. We will be engaging in the infrastructure, tourism, power and in the manufacturing sector. All we need is a strong and stable government, business-friendly policies and fair competition between private sector players. The domestic market has huge potentials and Kedia Group looks forward to tap and invest in them to create more jobs in the domestic market itself.</div>', 'published' => true, 'created' => '2014-01-24', 'modified' => '2014-01-24', 'keywords' => 'new business age interview news & articles, interview news & articles from new business age nepal, interview headlines from nepal, current and latest interview news from nepal, economic news from nepal, nepali interview economic news and events, ongoing interview news of nepal', 'description' => 'Kedia Organisation, the oldest and one of the most talked about business conglomerates of the country, has been practicing a synergistic combination of family ownership and professional management since 1909 A.D. Named after their fathers, Late Sundarmal Kedia and Late Ram Kumar Kedia, it was surely a turning point for the Kedias when the first foundation stone of their present day multimillion conglomerate was laid in the form of a small cloth trading business.', 'sortorder' => '2337', 'image' => null, 'article_date' => '0000-00-00 00:00:00', 'homepage' => false, 'breaking_news' => false, 'main_news' => false, 'in_scroller' => false, 'user_id' => '0' ) ), (int) 9 => array( 'Article' => array( 'id' => '2478', 'article_category_id' => '153', 'title' => 'Rainbow Trout Business In Nepal', 'sub_title' => '', 'summary' => null, 'content' => '<div> </div> <div> <strong>--By Rashika Pokharel</strong></div> <div> </div> <div> Rainbow Trout fish farming is a profit generating business, which has a wide scope in the Nepali market. Rainbow Trout, one of the many species of trout fishes, is a freshwater fish of the salmon family. Rainbow Trout fish have layers of red, green and blue colours glinting from their scales and get their name from this particular quality. This fish grows in cold and fresh running water. Climatic conditions of Nepal are suitable for the farming of this fish and correspondingly many entrepreneurs have capitalized on this fact. Nepali fish lovers have admired delicacies of this fish while appreciating various health benefits it has. </div> <div> </div> <div> The fish is not native to Nepali waters. For the first time, it was imported for cultivation from Japan in 1988. Due to favourable environmental condition, production of this fish flourished since then. Recently, private sector has introduced new technologies for producing and packaging it. In Nepal, it is generally perceived that fish farming is possible only in the Terai region of the nation. However, recent developments made in fish farming techniques, has caused a paradigm shift in this sector. Now, Rainbow Trout farming is possible in Hilly areas as well.</div> <div> </div> <div> Rainbow Trout farming was first started in Nuwakot. It has been able to bring considerable changes in economic status of the farmers. Even though the fish if produced in multiple places across the nation, the production has not been able to meet market demands. The fish is available in few department stores in Kathmandu. And sometimes consumers are found to be importing it as well. Comparatively the fish is costly than other species of fishes available in Nepali market. “A kg of rainbow trout fish costs Rs. 1400,” says Rajendra Khadka, owner of Budanilkantha Riverside Restaurant, that sells this fish by producing in its own facility inside the restaurant premises.</div> <div> </div> <div> <span style="font-size:14px;"><strong>The Healthiest Choice</strong></span></div> <div> Rainbow trout is rich in protein which helps to lose weight and retain lean muscle mass. It contains Omega-3 fatty acid, which helps to reduce blood pressure and helps to overcome depression. This acid also reduces risks of cardiovascular disease, hypertension, high blood cholesterol and certain types of cancer. It contains minerals, iron, calcium, zinc and vitamins including- vitamin B complex and Vitamin D. Delicious and readily available in most grocery stores, Rainbow Trout is also low in sodium and calories.</div> <div> </div> <div> Rainbow trout has comparatively low-fat level and is low in cholesterol too, which makes it a good protein substitute for meats like beef, pork and lamb that contain significantly higher amounts of saturated fat and cholesterol.</div> <div> </div> <div> <span style="font-size:14px;"><strong>Production</strong></span></div> <div> Rainbow trout production is expensive. Rs 20 million investment is required to produce 10 tons of Rainbow Trout and Rs 10 million is required to produce 5 tons. The Investment can be made on the basis of producer’s need and financial capabilities. Like other business field, this field has its own bottlenecks and risk factors. “Rainbow trout production is not easy. The sustenance of Rainbow Trout farming is difficult to manage both in terms of monetary and labour cost,” says Khadka.</div> <div> </div> <div> Farmers buy baby Rainbow Trout and rear them until they grow to a standard weight. According to Kapil Thapa, Manager at Nepal Rainbow Trout Farmers Association, the standard weight of a rainbow trout for selling is 200 gram. It takes a year for the baby trout to grow up and gain this weight. </div> <div> </div> <div> Rainbow trout farming can be done in any season. However, “The most favourable season for its farming is from November to April,” says Mahendra Ghorasini, Central Vice-president of Himalayan Trout Association. The suitable temperature for an adult Rainbow Trout to grow properly is 10-14 degree Celsius and 9-12 degree Celsius for the smaller one. This species of the fish require clean, cold and continuously flowing water to sustain and grow.</div> <div> </div> <div> <span style="font-size:14px;"><strong>Problems</strong></span></div> <div> Rainbow Trout farming is done by a very few farmers because its production is expensive as well as difficult. A single rainbow trout farm setup requires continuous flowing water, a cemented pool and a large area. Though this fish is popular, the popularity is limited to a very few selected groups and is yet reach the mass market. Due to high cost, the popularity is limited to upper middle and high-class people who can afford high costs for seafood eateries. One of the many reasons for the failure of this product to establish in the mass market is the lack of seafood eating culture among general Nepalis, some of which also perceive that seafood eateries are beyond their household budget, Ghorasaini says. Failure to obtain large market for the product has incurred losses to some farmers as sometimes farmers cannot sell reared Rainbow Trout in time. </div> <div> </div> <div> Another reason behind the declination of rainbow trout sales is the lack of advertisement. “We are not getting platform to let people know about rainbow trout,” says Thapa. In lack of a proper platform to advertise and reach the common mass of people, the farming has received substantial setbacks in supply its produces. </div> <div> </div> <div> One of the major reasons for the high cost of Rainbow Trout in the market is the cost of the food served to this fish. Food served to this fish costs between Rs 130 to Rs 225 per kg.</div> <div> </div> <div> Adding to it lack of technological developments, proper equipment, and experts the production of the fish has been affected. “We don’t have latest technological equipment that can make substantial changes in producing the fish on large scale,” Ghorasini said pointing out the reason behind small-scale production of the fish.</div> <div> </div> <div> <span style="font-size:14px;"><strong>The future</strong></span></div> <div> Despite the seemingly disinterestedness among urban and rural Nepalis for seafood, trends are changing. With more and more restaurants booming in Kathmandu and other urban centres across the nation and with consumers becoming more concerned about hygienic and healthy food, Rainbow Trout delicacies are expected to gain more popularity in the days ahead. Even though the fish is costly, increasing income level of consumers and the health benefits attached to this fish will help in attracting more consumers to buy it. Therefore, they are ready to pay a higher price if the food is nutritious and beneficial. </div> <div> </div> <div> Future of farmers and entrepreneurs involved in this sector can be secured through special initiatives of the government. The government should assist in conducting researches and providing remedies to the Rainbow Trout fisheries and assist in coordinating with international communities for in sourcing technological advances made in this field. Providing subsidies on the raw materials used by this industry would further help in bringing the market cost of the product and thereby increasing sales of the farmers and making this healthy product available to mass consumers.</div> <div> </div> <div> <img alt="Rainbow Trout Business in Nepal" src="/userfiles/images/fn1%20(Copy).jpg" style="width: 550px; height: 206px; margin-left: 10px; margin-right: 10px;" /></div>', 'published' => true, 'created' => '2014-01-20', 'modified' => '2014-01-27', 'keywords' => 'the corporate weekly from Nepal, nepali corporate events – news – interviews – reviews, nepali corporate focus, nepali corporate status and news, news from nepali corporate industry, corporate happenings – events – news from nepal', 'description' => 'Rainbow Trout fish farming is a profit generating business, which has a wide scope in the Nepali market. Rainbow Trout, one of the many species of trout fishes, is a freshwater fish of the salmon family. Rainbow Trout fish have layers of red, green and blue colours glinting from their scales and get their name from this particular quality. This fish grows in cold and fresh running water. Climatic conditions of Nepal are suitable for the farming of this fish and correspondingly many entrepreneurs have capitalized on this fact. Nepali fish lovers have admired delicacies of this fish while appreciating various health benefits it has.', 'sortorder' => '2336', 'image' => null, 'article_date' => '0000-00-00 00:00:00', 'homepage' => false, 'breaking_news' => false, 'main_news' => false, 'in_scroller' => false, 'user_id' => '0' ) ), (int) 10 => array( 'Article' => array( 'id' => '2480', 'article_category_id' => '99', 'title' => 'Lumbini March Promotes Peace & Tourism', 'sub_title' => '', 'summary' => null, 'content' => '<div> </div> <div> <strong>--By TC Correspondent</strong></div> <div> </div> <div> Lumbini Peace Marathon organized Lumbini Peace March in Lumbini on 15th January. Officials of Lumbini Development Trust, Former Miss Nepal Sadkischay Shrestha, Olympians, representatives of Siddhartha Chamber of Commerce, Siddhartha Hotel Association, Siddhartha Hotel and Restaurant Association, officials from Nepal Tourism Board and sportsmen of Lumbini participated in the March. The March started from Peace Flame, went around the Mayadevi Temple and ended at the Peace Flame. </div> <div> </div> <div> Bikram Pandey, organizer of Lumbini Peace Marathon and Goodwill Ambassador of Lumbini said that the objective of the march was to promote the areas related with the life of Buddha as tourism destination. He also informed that the Lumbini Peace Marathon will be held on 16th March 2014. </div> <div> </div> <div> The Marathon will start from Tilorakot through Gotihawa, Kudan, Dohani, Barhiya, Pagadi, Labani and will finally end at Maya Devi Temple garden. All these places are related with the life cycle of Lord Buddha. There will be two men’s and women’s categories in the marathon. Students and Open will participate in five kilometer race and 10 kilometer corporate relay will be held for corporate participants.</div>', 'published' => true, 'created' => '2014-01-21', 'modified' => '2014-01-24', 'keywords' => 'the corporate weekly from Nepal, nepali corporate events – news – interviews – reviews, nepali corporate focus, nepali corporate status and news, news from nepali corporate industry, corporate happenings – events – news from nepal', 'description' => 'Lumbini Peace Marathon organized Lumbini Peace March in Lumbini on 15th January. Officials of Lumbini Development Trust, Former Miss Nepal Sadkischay Shrestha, Olympians, representatives of Siddhartha Chamber of Commerce, Siddhartha Hotel Association, Siddhartha Hotel and Restaurant Association, officials from Nepal Tourism Board and sportsmen of Lumbini participated in the March. The March started from Peace Flame, went around the Mayadevi Temple and ended at the Peace Flame.', 'sortorder' => '2335', 'image' => null, 'article_date' => '0000-00-00 00:00:00', 'homepage' => false, 'breaking_news' => false, 'main_news' => false, 'in_scroller' => false, 'user_id' => '0' ) ), (int) 11 => array( 'Article' => array( 'id' => '2491', 'article_category_id' => '168', 'title' => 'SAIM Producing Entrepreneurs', 'sub_title' => '', 'summary' => null, 'content' => '<div> </div> <div> </div> <div> <strong>--By Upashana Neupane</strong></div> <div> </div> <div> South Asian Institute of Management (SAIM) is an independent academic institution established in 2006. Located at Lagankhel, Lalitpur, SAIM aims to provide need-based management education and engage in management development, research and provide consultation services to facilitate the growth and development of managers, entrepreneurs, and business leaders in South Asia.</div> <div> </div> <div> SAIM aims to address the demand for skilled managers and entrepreneurs in Asia, which is expected to grow as it is the most dynamic economic centre for global trade, investment and technology innovation.</div> <div> </div> <div> It envisions generating professional managers and entrepreneurs who have a deep understanding of the region, its people and their deep rooted cultural values. And it has been working hard for the same with high degree of commitment, dedication and perseverance to establish itself as a regional learning centre of excellence for management studies.</div> <div> </div> <div> SAIM provides best of management education with some of the Nepal’s best intellectual professionals in its faculty such as Dr Bijay KC, Dr Prakash Chandra Lohani, Ashok R. Pandey, Madhukar SJB Rana and alike. The College offers Bachelor’s in Business Administration (BBA) and Master’s in Business Administration (MBA) in Global Business with affiliation from Pokhara University. </div> <div> </div> <div> Apart from that, SAIM has also collaborated with Asian Institute of Technology (AIT) Bangkok. With a purpose to upgrade education and research opportunities, SAIM signed an MOU with AIT in December 2009. The MOU focuses mainly on faculty and student exchange program, conducting joint research and studies. It also aims to build capacity of SAIM faculty members through degree and training programs at AIT. </div> <div> </div> <div> <span style="font-size: 14px;"><strong>College Objectives</strong></span></div> <div> •<span class="Apple-tab-span" style="white-space: pre;"> </span>To develop managers with sound management knowledge, skills and values along with leadership qualities and a positive attitude.</div> <div> •<span class="Apple-tab-span" style="white-space: pre;"> </span>To build relevant, practical curricula grounded on sound theory and based on regional case studies and experience sharing.</div> <div> •<span class="Apple-tab-span" style="white-space: pre;"> </span>To motivate students for bringing out the best in them and foster creativity, innovation and effective team building.</div> <div> •<span class="Apple-tab-span" style="white-space: pre;"> </span>To inculcate creativity and innovativeness in the faculty through continuing education, faculty development programs, consulting and research.</div> <div> </div> <div> </div> <div style="text-align: center;"> <span style="font-size: 18px;"><strong> “Be an entrepreneur not an employee”</strong></span></div> <div> </div> <table align="right" style="margin: 0px 0px 0px 10px;" width="25"> <tbody> <tr> <td> <img alt="Dr Bijay KC, Dean, SAIM" src="/userfiles/images/bkc.jpg" style="border-width: 0px; border-style: solid; width: 200px; height: 210px;" /></td> </tr> <tr> <td bgcolor="#FFFFFF"> <div align="center"> <div> <strong>Dr Bijay KC</strong></div> <div> Dean, SAIM</div> </div> </td> </tr> </tbody> </table> <div> Any developed country is well-developed because it’s well-managed. Until a country can’t utilise its resources, it can’t be developed. Utilising human resource and natural resources needs proper management. MBA (Masters in Business Administration) produces skilled or appropriate manpower for the utilisation of the resources, be it natural or human.</div> <div> </div> <div> MBA is regarded as best education worldwide for the management studies. It is a course providing practical knowledge about management. It teaches management of property as well as problems. It also helps in developing leadership and an individual’s decision making ability. It provides knowledge about specialized management which includes management of every sector. It teaches skills to apply theoretical knowledge in practical life. It also sharpens communication skills and team work. Thus, MBA has drawn attraction among students lately than other management programmes. </div> <div> </div> <div> Our country moved ahead to privatization after the change in policy in 1991resulting in increase of economic activities. Number of private industries, companies, banks, and financial sectors also increased after that. Similarly, activities in tourism sector and aviation also increased. Need of proper management was felt after the number and responsibilities of these institutions increased. For which, people with proper management skills were needed. MBA’s importance was felt to generate that manpower.</div> <div> </div> <div> Most of the students pursuing MBA have a thought of working with some companies. We suggest them to be entrepreneurs themselves rather than working with any organisation. MBA graduates should create employment rather than be an employee. Students belonging to industrial family automatically incline towards business while others think of doing job under some company. MBA however is not a subject to continue the traditional occupations. MBA graduates should be innovative enough to create employment opportunities and be progressive to face possible challenges in the market. However, being an entrepreneur is much more challenging than working for other organisations. </div> <div> </div> <div> MBA Graduates have showed good results in the management of the organizations. They are paid well also. Thus, the number of students wanting to study MBA increased along with the number of management schools providing MBA course. However, looking at the present scenario, number of MBA graduates has become more than the opportunities available and the size of the market. Economic activities that accelerated after 1991 have slowed down lately due to political instability in the country. MBA graduates thus are more in numbers than the opportunities available in the market. </div> <div style="text-align: right;"> <span style="font-size: 14px;"><em>(Based on an interview with Dr Bijaya KC.)</em></span></div>', 'published' => true, 'created' => '2014-01-22', 'modified' => '2014-01-24', 'keywords' => 'new business age business education news & articles, business education news & articles from new business age nepal, business education headlines from nepal, current and latest business education news from nepal, economic news from nepal, nepali business education economic news and events, ongoing', 'description' => 'South Asian Institute of Management (SAIM) is an independent academic institution established in 2006. Located at Lagankhel, Lalitpur, SAIM aims to provide need-based management education and engage in management development, research and provide consultation services to facilitate the growth and development of managers, entrepreneurs, and business leaders in South Asia.', 'sortorder' => '2334', 'image' => null, 'article_date' => '0000-00-00 00:00:00', 'homepage' => false, 'breaking_news' => false, 'main_news' => false, 'in_scroller' => false, 'user_id' => '0' ) ), (int) 12 => array( 'Article' => array( 'id' => '2490', 'article_category_id' => '31', 'title' => '“New Engines Of Growth Could Be A Stepping Stone For Nepal”', 'sub_title' => '', 'summary' => null, 'content' => '<div> </div> <div> <span style="font-size: 16px;"><strong>Prof Imon Ghosh</strong> is the Director of the Academy of Human Resource Development (AHRD), India’s premier institution specialising in human resources development. Prof Ghosh has a postgraduate degree in Economics with over 28 years of experience in industry and academia. He has identified five prospective new engines of economic growth, which, he claims, can reduce poverty across the developing countries as well as empower the disadvantaged/excluded groups in the developed countries. Recently, he was in Nepal to conduct a leadership workshop. New Business Age caught up with him on the sidelines of the workshop to talk about his idea of new engines for the economic growth and his other works. <strong>Excerpts:</strong></span></div> <div> </div> <div> <span style="font-size: 14px;"><strong>What brought you to Nepal?</strong></span></div> <div> This is my first visit to Nepal. Verisk invited me here to conduct a three-day leadership skill workshop for its management and senior management teams. Since I was here, I told my host to make another use of my visit by conducting a talk programme on my idea of new engines of economic growth. The motive of my Nepal visit is to start a discussion on my idea of ‘new engines of economic growth’ here in Nepal. I wanted to invite participants to provide me their inputs on it.</div> <div> </div> <div> <span style="font-size: 14px;"><strong>Can you please briefly highlight the idea of new engines of economic growth? What exactly are the new engines that you have identified?</strong></span></div> <div> I have identified five engines of economic growth. The first one is leveraging the demographic dividend through better education and skills. This also deals with the fiscal impact of ageing population, and links to deficits. Second is innovative teaching methodologies. This requires the overhaul of our education system from a teacher-centric pedagogy to a learner-centric andragogy, resulting in higher quality human capital that can add greater value to the knowledge economy. The third one is the ship design innovation that can reduce the cost of international trade. Likewise, fourth engine is related to research and development that results in the next generation of propulsion system after jet propulsion. This I have been thinking since the early 1980s. The fifth one is about the actionable ideas to reduce poverty and accelerate economic growth. This explores a new model for promoting financial inclusion, solutions to the current economic downturn, financial sector reforms and accelerating economic growth. My presentation here mostly dwelt on this fifth engine. </div> <div> </div> <div> <span style="font-size: 14px;"><strong>How did this idea of new engines of the economic growth evolve?</strong></span></div> <div> In 1992, I was doing my Masters in Economics. I came across a news article which said that many rural regional banks were running in losses and the government of India was trying to centralise them and take them to Delhi. My immediate thought was that it was a wrong thing to do; a rural bank should be in the rural area, and 196 such banks are not enough as India has over 600 thousand villages where over 815 million people live. Then I started investigating and looking at the whole when the thought crossed my mind that if we could economically empower 815 million people than we would have a powerful engine of growth. If so many people have the additional spending power, it would lift the economy up. In India, if there is good monsoon, farmers earn more and the stocks (shares price) of Hindustan Liver and other companies go up. Everybody benefits from the prosperity. Nobody benefits from keeping the people poor. It is morally imperative to reach out to the poor and improve their living conditions. As economies around the globe, including those of India and China, decelerate or slip into recession, the need of these new engines of economic growth becomes more urgent. </div> <div> </div> <div> <span style="font-size: 14px;"><strong>How can these new engines help accelerate Nepal’s economy? </strong></span></div> <div> I am actually here to learn and the purpose of my talk was also to have a conversation. I have studied India and I am interested in Nepal. I cannot prescribe the exact solution to Nepal. So, my intent was to solicit the inputs and feedback into my idea of new engines so that we can co-create it so that the engines could help Nepal’s economy in some way, either completely or remotely. This is not a complete solution, but of course a stepping stone for the economic growth. </div> <div> </div> <div> <span style="font-size: 14px;"><strong>What kind of response have you been getting on your idea?</strong></span></div> <div> So far, it’s very good. My paper on ‘Reducing Poverty and Accelerating Growth’, which contains this idea, has been included in the syllabus of India’s National University of Juridical Sciences. It was abridged and published on the editorial page of the Times of India, and noted in the records of the Indian parliament. Chief economic Advisor, Minister of Rural Development and other policy makers have appreciated it. </div> <div> </div> <div> <span style="font-size: 14px;"><strong>During your presentation, you underlined the need of integration between formal and informal financial sectors for an effective financial system. Could you please explain it?</strong></span></div> <div> In the formal financial sector, interest rates are low, the coverage is not very good, capital adequacy is low, and non-performing assets are created right from the very beginning. There are other problems too. In the informal sector, interest rates may be high. For the economy to grow, both should complement with each other and work in tandem. </div>', 'published' => true, 'created' => '2014-01-22', 'modified' => '2014-01-24', 'keywords' => 'new business age business visitors news & articles, business visitors news & articles from new business age nepal, business visitors headlines from nepal, current and latest business visitors news from nepal, economic news from nepal, nepali business visitors economic news and events, ongoing busin', 'description' => 'Prof Imon Ghosh is the Director of the Academy of Human Resource Development (AHRD), India’s premier institution specialising in human resources development. Prof Ghosh has a postgraduate degree in Economics with over 28 years of experience in industry and academia. He has identified five prospective new engines of economic growth, which, he claims, can reduce poverty across the developing countries as well as empower the disadvantaged/excluded groups in the developed countries. Recently, he was in Nepal to conduct a leadership workshop.', 'sortorder' => '2333', 'image' => null, 'article_date' => '0000-00-00 00:00:00', 'homepage' => false, 'breaking_news' => false, 'main_news' => false, 'in_scroller' => false, 'user_id' => '0' ) ), (int) 13 => array( 'Article' => array( 'id' => '2488', 'article_category_id' => '201', 'title' => 'Fighting The Winter Blues', 'sub_title' => '', 'summary' => null, 'content' => '<div> </div> <div> <strong>--By TC Correspondent</strong></div> <div> </div> <div> Season often plays a major role in changing human mood. Every season has its own impact on the human mind depending on the nature of an individual. As such, some people find winter gloomy. It is a season of the year when climate is harsh and cold. With the days becoming shorter and nights becoming longer and colder, people who are normally happy also start feeling little down or upset.Many people feel low and drowsy during winters. In winter, people normally lack motivation and energy levels also lessen in comparison to other season. Feeling low during winters is so common and this phenomenon iscommonly referred to as “winter blues”. Winter Blues is sometimes portrayed as depression for it brings in feelings like frustration, sadness, disappointment and indecisiveness in individuals.</div> <div> </div> <div> Winter Blues is a very normal psychological state and there are lots of things one can do to prevent the blues from kicking in and getting self back to normal if they’re already kicked in. You are not helpless against this seasonal sadness. You can fight it with the right foods and supplements, as well as certain types of exercise. There are many helpful tips for dealing with the winter blues.</div> <div> </div> <div> <span style="font-size:14px;"><strong><img alt="" src="/userfiles/images/ls1%20(Copy).jpg" style="float: left; margin: 0px 10px 0px 0px;width: 300px; height: 346px;" />Proper Diet</strong></span></div> <div> Foods that are low in nutrients can deplete your body of energy and can also influence your mood resulting in depression, lack of concentration and mood swings. Avoid refined and processed foods like white breads, rice, and sugar. Try to consume more carbohydrates such as whole wheat breads, fruits and vegetables. Also intake lot of liquid such as juice or water as it will help you remain hydrated. Consumption of healthy foods will provide your body and mind with nutrients, and soothe your blood sugar and energy levels.</div> <div> </div> <div> <span style="font-size:14px;"><strong>Fitness or Exercise</strong></span></div> <div> Exercise is immensely helpful for alleviating stress in your life. Physical activity stimulatesdifferent brain chemicalsthat can make you feel happier and more relaxed. Exercise boosts up energy and helps to remain active throughout the day. It increases your metabolism. Exercise also helps your mind by discharging “endorphins” that improve your mood.</div> <div> </div> <div> <span style="font-size:14px;"><strong>Pamper yourself </strong></span></div> <div> It is a must to take special care of your skin during winter because skin becomes dry and dull in this season. Apply moisturizers to soften your skin. To avoid skin cracks you can also apply glycerin and petroleum jelly before going to bed. Normally, people don’t use sunscreen during winter but this is a wrong tendency. Your skin can get sunburns even during winter. </div> <div> </div> <div> <span style="font-size:14px;"><strong>Follow the Sun</strong></span></div> <div> Deficiency of sunlight can make you feel depressed. You can get rid of winter blues by spending maximum time in sunlight. It is considered equally important as exercise, for it helps in elevating mood. Sun is a rich source of vitamin D. Vitamin D can decrease your chances of catching a cold or flu, enhance the immune system and keep appetite controlled.</div>', 'published' => true, 'created' => '2014-01-21', 'modified' => '2014-01-22', 'keywords' => 'the corporate weekly from Nepal, nepali corporate events – news – interviews – reviews, nepali corporate focus, nepali corporate status and news, news from nepali corporate industry, corporate happenings – events – news from nepal', 'description' => 'Season often plays a major role in changing human mood. Every season has its own impact on the human mind depending on the nature of an individual. As such, some people find winter gloomy. It is a season of the year when climate is harsh and cold. With the days becoming shorter and nights becoming longer and colder, people who are normally happy also start feeling little down or upset.Many people feel low and drowsy during winters. In winter, people normally lack motivation and energy levels also lessen in comparison to other season. Feeling low during winters is so common and this phenomenon iscommonly referred to as “winter blues”. Winter Blues is sometimes portrayed as depression for it brings in feelings like frustration, sadness, disappointment and indecisiveness in individuals.', 'sortorder' => '2332', 'image' => null, 'article_date' => '0000-00-00 00:00:00', 'homepage' => false, 'breaking_news' => false, 'main_news' => false, 'in_scroller' => false, 'user_id' => '0' ) ), (int) 14 => array( 'Article' => array( 'id' => '2489', 'article_category_id' => '150', 'title' => 'Business Briefs (20 - 26 January 2014)', 'sub_title' => '', 'summary' => null, 'content' => '<div> <span style="font-size:14px;"><strong>Toyota Hiace with New Engine</strong></span></div> <div> United Traders Syndicate Pvt Ltd has introduced Toyota Hiace with a new 2.5 litre, 16 valve DOHC Common Rail Turbo Diesel engine. According to the company, the new engine offers a balance between power and fuel efficiency. Apart from the new engine, Hiace comes with features like low engine noise, reduced weight and is highly durable and reliable, says a statement from the company. </div> <div> </div> <div> <span style="font-size:14px;"><strong>Jagdamba Steel’s Salaam Idea Contest</strong></span></div> <div> Jagdamba Steels Private Limited has launched a Facebook contest named Salaam Idea Contest. In this contest, participants are required to upload a picture in which TMT Steel Bar is used for any purpose other than construction or in tool making in the official Facebook Page of Jagdamba Steels. The participant with maximum number of likes will be declared the winner and will win a new Mahindra Rodeo RZ scooter. The contest will run for a month. </div> <div> </div> <div> <span style="font-size:14px;"><strong>Berger Silk Range Launched </strong></span></div> <div> Berger and Jensen Nepal Pvt Ltd has launched Berger Silk premium paint in Nepal. According to the company, Silk offers better shine and colour, and is one of the most luxurious offering from Berger. The company has also claimed that the paint is one of the safest emulsions in market as it is free from heavy metals like lead, mercury and chromium. Silk is endorsed by popular Bollywood actress Katrina Kaif. </div> <div> </div> <div> <span style="font-size:14px;"><strong>Shikhar Cement Gets NS Mark</strong></span></div> <div> Shikhar Cement, a product of Star Cement Industry Pvt Ltd has received NS Certification. Nepal Bureau of Standards and Metrology has awarded the certification based on the quality and manufacturing process of the cement. Star Cement Industry has been manufacturing cement since last eight years. </div> <div> </div> <div> <strong>Avanish Distillery launches Striker </strong></div> <div> Avanish Distillery Pvt Ltd has introduced its first product Striker, apple flavoured liquor in the market. According to the company, Striker is made from clean and pure water, and has passed through strict quality control. The company will also be producing vodkas, rums, whiskeys and gins in near future.</div>', 'published' => true, 'created' => '2014-01-21', 'modified' => '2014-01-22', 'keywords' => 'the corporate weekly from Nepal, nepali corporate events – news – interviews – reviews, nepali corporate focus, nepali corporate status and news, news from nepali corporate industry, corporate happenings – events – news from nepal', 'description' => 'United Traders Syndicate Pvt Ltd has introduced Toyota Hiace with a new 2.5 litre, 16 valve DOHC Common Rail Turbo Diesel engine. According to the company, the new engine offers a balance between power and fuel efficiency. Apart from the new engine, Hiace comes with features like low engine noise, reduced weight and is highly durable and reliable, says a statement from the company.', 'sortorder' => '2331', 'image' => null, 'article_date' => '0000-00-00 00:00:00', 'homepage' => false, 'breaking_news' => false, 'main_news' => false, 'in_scroller' => false, 'user_id' => '0' ) ) ) $current_user = null $logged_in = false $xml = falsesimplexml_load_file - [internal], line ?? include - APP/View/Elements/side_bar.ctp, line 133 View::_evaluate() - CORE/Cake/View/View.php, line 971 View::_render() - CORE/Cake/View/View.php, line 933 View::_renderElement() - CORE/Cake/View/View.php, line 1224 View::element() - CORE/Cake/View/View.php, line 418 include - APP/View/Articles/index.ctp, line 157 View::_evaluate() - CORE/Cake/View/View.php, line 971 View::_render() - CORE/Cake/View/View.php, line 933 View::render() - CORE/Cake/View/View.php, line 473 Controller::render() - CORE/Cake/Controller/Controller.php, line 968 Dispatcher::_invoke() - CORE/Cake/Routing/Dispatcher.php, line 200 Dispatcher::dispatch() - CORE/Cake/Routing/Dispatcher.php, line 167 [main] - APP/webroot/index.php, line 117
| Currency | Unit |
Buy | Sell |
| U.S. Dollar | 1 | 121.23 | 121.83 |
| European Euro | 1 | 131.65 | 132.31 |
| UK Pound Sterling | 1 | 142.47 | 143.18 |
| Swiss Franc | 1 | 124.29 | 124.90 |
| Australian Dollar | 1 | 71.69 | 72.05 |
| Canadian Dollar | 1 | 83.90 | 84.32 |
| Japanese Yen | 10 | 10.94 | 11.00 |
| Chinese Yuan | 1 | 17.17 | 17.26 |
| Saudi Arabian Riyal | 1 | 32.27 | 32.43 |
| UAE Dirham | 1 | 33.01 | 33.17 |
| Malaysian Ringgit | 1 | 27.36 | 27.50 |
| South Korean Won | 100 | 9.77 | 9.82 |
Update: 2020-03-25 | Source: Nepal Rastra Bank (NRB)
| Fine Gold | 1 tola | 77000.00 |
| Tejabi Gold | 1 tola | 76700.00 |
| Silver | 1 tola | 720.00 |
Update : 2020-03-25
Source: Federation of Nepal Gold and Silver Dealers' Association
| Petrol | 1 Liter | 106.00 |
| Diesel | 1 Liter | 95.00 |
| Kerosene | 1 Liter | 95.00 |
| LP Gas | 1 Cylinder | 1375.00 |
Update : 2020-03-25
