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Notice (8): Undefined variable: file [APP/View/Elements/side_bar.ctp, line 60]Code Context// $file = 'http://aabhiyan:QUVLg8Wzs2F7G9N7@nepalstock.com.np/api/indexdata.xml';if(!$xml = simplexml_load_file($file)){$viewFile = '/var/www/html/newbusinessage.com/app/View/Elements/side_bar.ctp' $dataForView = array( 'articles' => array( (int) 0 => array( 'Article' => array( [maximum depth reached] ) ), (int) 1 => array( 'Article' => array( [maximum depth reached] ) ), (int) 2 => array( 'Article' => array( [maximum depth reached] ) ), (int) 3 => array( 'Article' => array( [maximum depth reached] ) ), (int) 4 => array( 'Article' => array( [maximum depth reached] ) ), (int) 5 => array( 'Article' => array( [maximum depth reached] ) ), (int) 6 => array( 'Article' => array( [maximum depth reached] ) ), (int) 7 => array( 'Article' => array( [maximum depth reached] ) ), (int) 8 => array( 'Article' => array( [maximum depth reached] ) ), (int) 9 => array( 'Article' => array( [maximum depth reached] ) ), (int) 10 => array( 'Article' => array( [maximum depth reached] ) ), (int) 11 => array( 'Article' => array( [maximum depth reached] ) ), (int) 12 => array( 'Article' => array( [maximum depth reached] ) ), (int) 13 => array( 'Article' => array( [maximum depth reached] ) ), (int) 14 => array( 'Article' => array( [maximum depth reached] ) ) ), 'current_user' => null, 'logged_in' => false ) $articles = array( (int) 0 => array( 'Article' => array( 'id' => '2458', 'article_category_id' => '140', 'title' => 'NC To Elect Its Parliamentary Leader', 'sub_title' => '', 'summary' => null, 'content' => '<div> Nepali Congress (NC) has decided to conduct election of its parliamentary leader. NC’s central committee meeting on January 18 took the decision to form a three-member election organizing committee led by party spokesperson Dilendra Prasad Badu. </div> <div> </div> <div> The other two members of the committee are central Ramesh Rijal and Ramchandra Tiwari.</div> <div> </div> <div> NC President Sushil Koirala, Senior Leader Sher Bahadur Deuba and Vice President Ramchandra Poudel are contesting for the post of the party’s parliamentary party (PP) leader. The PP leader will be named as the NC’s candidate for the post of prime minister.</div> <div> </div> <div> Among the top three leaders, NC President Koirala has relatively strong grip inside the party. Despite this, the election is going to be held in order to demonstrate a democratic practice inside the party, it is learnt.</div>', 'published' => true, 'created' => '2014-01-20', 'modified' => '2014-01-20', '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' => 'Nepali Congress (NC) has decided to conduct election of its parliamentary leader. NC’s central committee meeting on January 18 took the decision to form a three-member election organizing committee led by party spokesperson Dilendra Prasad Badu.', 'sortorder' => '2299', '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' => '2456', 'article_category_id' => '139', 'title' => 'Nepal And The World News In Brief (20 - 26 January 2014)', 'sub_title' => '', 'summary' => null, 'content' => '<div> <span style="font-size:14px;"><strong>Deutsche Bank Quits Gold Price Setting</strong></span></div> <div> Deutsche Bank AG is pulling out of the process for setting gold and silver benchmarks, a move that comes as regulators investigate possible manipulation of precious-metals prices. Deutsche, one of five banks involved in the twice-daily gold fix for global price setting, said Friday it was dropping out of the process after withdrawing from the bulk of its commodities business. </div> <div> </div> <div> <span style="font-size:14px;"><strong>Intel to cut over 5,000 jobs</strong></span></div> <div> Chipmaker Intel said Friday it plans to reduce its global workforce by over 5,000 people over the next year. The company says the cuts are in response to “evolving market trends.” Intel said it will trim about 5% of its 107,600 global workforce by the end of 2014 -- 5,380 jobs.</div> <div> </div> <div> <span style="font-size:14px;"><strong>Time Warner Rejects Charter’s $60bn bid as ‘ Grossly Inadequate’</strong></span></div> <div> Time Warner Cable has rejected a $60bn bid from rival, Charter Communications, saying the offer price was “grossly inadequate”. Charter had offered $132.50 a share, with $83 of that in cash and the rest in its own stock, to buy the firm. It said it was going public with its offer because of a lack of interest from Time Warner’s management in its efforts to purchase the firm. But Time Warner said Charter was trying to buy it for a “bargain” price.</div> <div> </div> <div> <span style="font-size:14px;"><strong>HSBC Suspends Currency Traders</strong></span></div> <div> British multinational bank HSBC has suspended two London-based foreign exchange traders as an investigation into the possible rigging of global currency dealing deepens. Others being investigated include Citigroup, JP Morgan, Barclays, UBS and Deutsche Bank.They are working with UK regulators to ascertain whether traders worked together to rig global currency values. The market is worth more than $5 trillion dollars a day.</div> <div> </div> <div> <span style="font-size:14px;"><strong>US Homebuilding Dips, but Year Best Since ‘07</strong></span></div> <div> U.S. home construction slowed in December but ended 2013 with the best showing since the housing bubble burst. The Commerce Department said Friday that builders broke ground last month at a seasonally annual rate of 999,000. That’s 9.8 percent lower than November’s pace of 1.12 million, which was the fastest in five years. </div>', 'published' => true, 'created' => '2014-01-20', 'modified' => '2014-01-20', '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' => 'Deutsche Bank AG is pulling out of the process for setting gold and silver benchmarks, a move that comes as regulators investigate possible manipulation of precious-metals prices. Deutsche, one of five banks involved in the twice-daily gold fix for global price setting, said Friday it was dropping out of the process after withdrawing from the bulk of its commodities business.', 'sortorder' => '2298', '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' => '2455', 'article_category_id' => '138', 'title' => 'Ambassador Bodde Lays Foundation Stone For New Airport Rescue Station', 'sub_title' => '', 'summary' => null, 'content' => '<div> US Ambassador Peter W. Bodde and Secretary of Ministry of Culture, Tourism and Civil Aviation Sushil Ghimire jointly laid the foundation stone for the new seismically safe Crash Rescue and Fire Station Building at Tribhuvan International Airport on January 16, Thursday. The US government is providing assistance totaling USD 462,000 to build a new station and make it resistant to earthquakes. According to a press statement by the US embassy in Kathmandu, the work is part of a larger effort to improve critical infrastructure that will allow the airport to remain open if a major earthquake were to occur. The foundation laying was marked by the 16th annual Earthquake Safety Day. </div> <div> </div> <div> In his remarks Ambassador Bodde said, “Two of my goals as the U.S. Ambassador are to support economic growth and reduce disaster risk in Nepal. Ultimately, we want to plan and prepare in a way that will save lives and destruction of property, lessen the impact of a disaster, and shorten the time of recovery."</div>', 'published' => true, 'created' => '2014-01-20', 'modified' => '2014-01-20', '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' => 'US Ambassador Peter W. Bodde and Secretary of Ministry of Culture, Tourism and Civil Aviation Sushil Ghimire jointly laid the foundation stone for the new seismically safe Crash Rescue and Fire Station Building at Tribhuvan International Airport on January 16, Thursday. The US government is providing assistance totaling USD 462,000 to build a new station and make it resistant to earthquakes. According to a press statement by the US embassy in Kathmandu, the work is part of a larger effort to improve critical infrastructure that will allow the airport to remain open if a major earthquake were to occur. The foundation laying was marked by the 16th annual Earthquake Safety Day.', 'sortorder' => '2297', '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' => '2451', 'article_category_id' => '122', 'title' => 'Kedia Organisation Re-defining Diversity', 'sub_title' => '', 'summary' => null, 'content' => '<div> </div> <div> <strong>--By TC Correspondent</strong></div> <div> </div> <table align="right" style="margin: 0px 0px 0px 10px;" width="25"> <tbody> <tr> <td> <img alt="Manoj Kedia, Executive Director, Kedia Organization" src="/userfiles/images/sp1.jpg" style="border-width: 0px; border-style: solid; width: 200px; height: 221px;" /></td> </tr> <tr> <td bgcolor="#FFFFFF"> <div align="center"> <div style="text-align: center;"> <div> <strong>Manoj Kedia</strong></div> <div> <em>Executive Director</em></div> <div> <em>Kedia Organisation</em></div> </div> </div> </td> </tr> </tbody> </table> <div> Kedia Organisation, a multi-million business conglomerate is not only one of the largest business houses in Nepal but also one of the oldest. The business house has diversified itself into agriculture, dairy, banking, trading among other industries without leaving a bit of the manufacturing sector that the group is focused on.</div> <div> </div> <div> Kedia Group is a well-known name in the cement, carpet and sugar industry. Manoj Kedia, Executive Director of the organisation says that his group has recently started manufacturing PVC carpet and is soon upgrading production capacity of Indusankhar Sugar Mill, one of Nepal’s oldest and leading sugar factories.</div> <div> </div> <div> It is an established name in the service industry. With some significant investment in this sector the business house is major promoter of Siddhartha Insurance, Siddhartha Capital and Siddhartha Bank and apart from that has been running several schools and hospitals in various parts of the country. </div> <div> </div> <div> The group has not limited itself with the sectors it has proven expertise in. It is continuously expanding. As part of its expansion plan, the group has made some investments in the housing and hydropower sector. Stating these investments to be insignificant, Kedia says that they are mainly made with a motive to get acquainted with these sectors.</div> <div> </div> <div> <span style="font-size:14px;"><strong>Hydro Interests</strong></span></div> <div> The power shortage has taken its toll on the industrial sector. And, Kedia Organisation is not an exception. Therefore, the group has lately made investments in hydropower generation. Kedia explains the groups’ logic behind its involvement in energy sector, “Power deficit is a national problem and it is obvious that major business houses want to engage in the power generation business as they are incurring heavy losses due to it.” With the growing demand for energy and high market potentials, energy has become a lucrative industry.</div> <div> </div> <div> Kedia says that the group has not made substantial investment in the energy sector as of now. “We have invested as shareholder in this sector to study the sectoral behaviour,” he says. He further adds that the country needs friendly laws and policies to attract FDI in the energy sector terming it to be a capital-intensive.</div> <div> </div> <div> <span style="font-size:14px;"><strong>Service and Trade Focus</strong></span></div> <div> The service and trading sector has lured a lot of business houses to divert from their traditional specialisation in manufacturing. They feel that it is difficult for manufacturing sector to prosper due to power shortage, open import of cheap goods from India and China. Kedia feels that it is extremely difficult for Nepali companies to compete with imported products in terms of cost. This is one of the reasons for the Kedia Organisation to diversify its portfolio into the service and trading businesses. Kedia adds, “Lack of skilled and productive manpower, unfriendly labour environment and decrease in agricultural production has triggered increase in imports of agro products. These are other factors that are affecting the growth of the manufacturing industries in Nepal and discouraging investors to invest in manufacturing sectors.”</div> <div> </div> <div> <span style="font-size:14px;"><strong>Agro Player</strong></span></div> <div> Kedia Group is one of the key players in the agriculture and food processing industry. The group is involved in agro-based industries with half a dozen companies that process and produce various food products such as rice, flour, lentils and sugar. Mahabir Adhunik Dal Udyog is one of the oldest manufacturing units in the lentil industry with a working history of more than 75 years. This unit recently upgraded its production capacity to 96 metric tonnes per day. </div> <div> </div> <div> Along with producing agro-based products, the group is trying to create backward linkages with the farmers. Kedia says that the group has been regularly coordinating with farmers that it deals with. “We regularly provide them with various skill-based trainings and loans. We have set up a sugar mill in Sarlahi district, country’s major sugarcane-growing centre, 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,” he said.</div> <div> </div> <div> <span style="font-size:14px;"><strong>Five Years Later</strong></span></div> <div> With the changing political environment, business houses have found reasons to be optimistic about the future. Kedia says that his group is not only hopeful about the probable growth of his business but also looks forward for growth in the overall development of the country.</div> <div> </div> <div> The group has plans to diversify its business involvements. Kedia reveals that his group will be engaged 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,” he says.</div> <div> </div> <div> <div> <hr /> <p style="text-align: center;"> <strong style="font-size: 16px;">The Rise of Kedia Organisation</strong></p> </div> <div> Kedia Organisation was established in 1909 as an evolution of the family owned trading business. The Kedia family started its business as a cloth merchant with stores in Birgunj and Kathmandu that selling imports from India. With the initiation and leadership of Brij Lal Kedia, first generation businessperson of the family, the business gradually expanded into food grains trading. It started small but as time progressed, it expanded across Nepal. Manoj Kedia, Executive Director of Kedia Organisation, narrates, “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> 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. Kedia says that during that time, the steel, textile, and corrugated sheet industries from Kedias were pioneers in their respective fields. They then became the backbones of the present day Kedia Organisation. At the same time, the group also entered in general merchandising sector by importing goods from third countries and bulk-traded them in local market. Imported goods included clothes, electronics, food items, medical equipment, household products, hardware, cement, sugar, and edible oil among others. Meanwhile the company also exported rice to Tibet and pulses and lentils to Sri Lanka, Bangladesh and to some European countries. </div> <div> </div> <div> Similarly, the group established Caltex Company, a petrol pump agent in Nepal, and this is still in operation as Kedia Auto in Birgunj. Kedia claims that 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,” he says.</div> <div> </div> <div> Today the group has over 1000 administrative staff, more than 100 technical staff and over 2500 skilled and semi-skilled workers. Today the group has investments in around four dozen companies, doing business in wide range of sectors.</div> <div> </div> </div> <table border="0" cellpadding="10" width="99%"> <tbody> <tr> <td bgcolor="#E5E4E2"> <div> <div> <span style="font-size:14px;"><strong>Banks and Financial Institutions</strong></span></div> <div> •<span class="Apple-tab-span" style="white-space:pre"> </span>Gorkha Finance Ltd</div> <div> •<span class="Apple-tab-span" style="white-space:pre"> </span>Siddhartha Bank Ltd</div> <div> •<span class="Apple-tab-span" style="white-space:pre"> </span>Siddhartha Capital Ltd</div> <div> •<span class="Apple-tab-span" style="white-space:pre"> </span>Siddhartha Insurance Ltd</div> <div> </div> <div> <span style="font-size:14px;"><strong>Fabrication and Iron and Steel</strong></span></div> <div> •<span class="Apple-tab-span" style="white-space:pre"> </span>Narayani Metal Industries</div> <div> •<span class="Apple-tab-span" style="white-space:pre"> </span>Sundar Wire and Nails</div> <div> •<span class="Apple-tab-span" style="white-space:pre"> </span>Sundar Furniture Industries Pvt Ltd</div> <div> •<span class="Apple-tab-span" style="white-space:pre"> </span>Sundar Steel Pvt Ltd</div> <div> </div> <div> <span style="font-size:14px;"><strong>Dairy and Agro Industries</strong></span></div> <div> •<span class="Apple-tab-span" style="white-space:pre"> </span>Amarawati Madyashala Pvt Ltd</div> <div> •<span class="Apple-tab-span" style="white-space:pre"> </span>Sitaram Gokul Milks Kathmandu Ltd</div> <div> •<span class="Apple-tab-span" style="white-space:pre"> </span>Indushankar Chini Udyog Ltd</div> <div> •<span class="Apple-tab-span" style="white-space:pre"> </span>Mahabir Adhunik Dal Udyog</div> <div> •<span class="Apple-tab-span" style="white-space:pre"> </span>Ram Dal Udyog</div> <div> •<span class="Apple-tab-span" style="white-space:pre"> </span>Brijlal Chamal Udyog Harion</div> <div> •<span class="Apple-tab-span" style="white-space:pre"> </span>Birgunj Khadya Udyog Pvt Ltd</div> <div> </div> <div> <span style="font-size:14px;"><strong>Exports</strong></span></div> <div> •<span class="Apple-tab-span" style="white-space:pre"> </span>Medical Herbs</div> <div> •<span class="Apple-tab-span" style="white-space:pre"> </span>Red Split Lentils</div> <div> •<span class="Apple-tab-span" style="white-space:pre"> </span>Flooring Carpets</div> <div> •<span class="Apple-tab-span" style="white-space:pre"> </span>Refined Vegetable Ghee</div> <div> •<span class="Apple-tab-span" style="white-space:pre"> </span>Pashmina (Cashmere) Products</div> <div> </div> <div> <span style="font-size:14px;"><strong>Imports</strong></span></div> <div> •<span class="Apple-tab-span" style="white-space:pre"> </span>Paper Products</div> <div> •<span class="Apple-tab-span" style="white-space:pre"> </span>Textile & Fabrics</div> <div> •<span class="Apple-tab-span" style="white-space:pre"> </span>Industrial Supplies</div> <div> •<span class="Apple-tab-span" style="white-space:pre"> </span>Metals & Minerals</div> <div> •<span class="Apple-tab-span" style="white-space:pre"> </span>Printing & Publishing</div> <div> •<span class="Apple-tab-span" style="white-space:pre"> </span>Construction Supplies</div> <div> •<span class="Apple-tab-span" style="white-space:pre"> </span>General Merchandise</div> <div> •<span class="Apple-tab-span" style="white-space:pre"> </span>Agro & food Products</div> <div> •<span class="Apple-tab-span" style="white-space:pre"> </span>Flooring & Furnishing</div> <div> •<span class="Apple-tab-span" style="white-space:pre"> </span>Fertilizers & Chemicals</div> <div> •<span class="Apple-tab-span" style="white-space:pre"> </span>Medical & Pharmaceuticals</div> <div> •<span class="Apple-tab-span" style="white-space:pre"> </span>Electronic & Electrical Goods</div> <div> •<span class="Apple-tab-span" style="white-space:pre"> </span>Cosmetics & Household Appliances</div> <div> </div> <div> <span style="font-size:14px;"><strong>Foreign Brand Representation</strong></span></div> <div> •<span class="Apple-tab-span" style="white-space:pre"> </span>Haier</div> <div> •<span class="Apple-tab-span" style="white-space:pre"> </span>Hisense</div> <div> •<span class="Apple-tab-span" style="white-space:pre"> </span>Toshiba</div> <div> •<span class="Apple-tab-span" style="white-space:pre"> </span>Evernal</div> <div> •<span class="Apple-tab-span" style="white-space:pre"> </span>Mitsuma</div> <div> •<span class="Apple-tab-span" style="white-space:pre"> </span>Chin Yang Corporation (South Korea)</div> <div> •<span class="Apple-tab-span" style="white-space:pre"> </span>Bharat Petroleum Corporation (India)</div> <div> </div> <div> <span style="font-size:14px;"><strong>Trading Companies</strong></span></div> <div> •<span class="Apple-tab-span" style="white-space:pre"> </span>Trading Firm</div> <div> •<span class="Apple-tab-span" style="white-space:pre"> </span>Sumit Impex</div> <div> •<span class="Apple-tab-span" style="white-space:pre"> </span>Kanak New Traders</div> <div> •<span class="Apple-tab-span" style="white-space:pre"> </span>Nepal Multinational Pvt Ltd</div> <div> •<span class="Apple-tab-span" style="white-space:pre"> </span>Eshita Trading Pvt Ltd</div> <div> •<span class="Apple-tab-span" style="white-space:pre"> </span>Yagya Shree Pvt Ltd</div> <div> •<span class="Apple-tab-span" style="white-space:pre"> </span>Sauryn Exim Pvt ltd</div> <div> •<span class="Apple-tab-span" style="white-space:pre"> </span>Infotech Solution Pvt Ltd</div> <div> •<span class="Apple-tab-span" style="white-space:pre"> </span>Nepal Sagarmatha Traders</div> <div> •<span class="Apple-tab-span" style="white-space:pre"> </span>Diamond Agro International</div> <div> •<span class="Apple-tab-span" style="white-space:pre"> </span>Rohit International Pvt Ltd</div> <div> •<span class="Apple-tab-span" style="white-space:pre"> </span>Sanjay Trade Links Pvt Ltd</div> <div> •<span class="Apple-tab-span" style="white-space:pre"> </span>Kedia International Pvt Ltd</div> <div> </div> <div> <span style="font-size:14px;"><strong>Education</strong></span></div> <div> •<span class="Apple-tab-span" style="white-space:pre"> </span>Sundarmal Ram Kumar Girls Higher Secondary School, Birgunj</div> <div> •<span class="Apple-tab-span" style="white-space:pre"> </span>Maharaja Agrasen Faculty of Management, Birgunj</div> <div> •<span class="Apple-tab-span" style="white-space:pre"> </span>D.A.V. Rukamani Banarasi Kedia School, Birgunj</div> <div> •<span class="Apple-tab-span" style="white-space:pre"> </span>D.A.V. Sushi Kedia Vishwa Bharati, Harion, Sarlahi</div> <div> •<span class="Apple-tab-span" style="white-space:pre"> </span>D.A.V. Kedia Vishwa Bharati, Biratnagar</div> <div> •<span class="Apple-tab-span" style="white-space:pre"> </span>D.A.V. Kedia Vishwa Bharati Nepal, Kathmandu</div> <div> •<span class="Apple-tab-span" style="white-space:pre"> </span>D.A.V. Sushil Kedia Vishwa Bharati, Lalitpur</div> <div> </div> <div> <span style="font-size:14px;"><strong>Healthcare and Welfare</strong></span></div> <div> •<span class="Apple-tab-span" style="white-space:pre"> </span>Ram Kumar Mahabir Prasad Kedia Eye Hospital, Birgunj</div> <div> •<span class="Apple-tab-span" style="white-space:pre"> </span>Mahabir Prasad Brijlal Kedia Dental Institute, Birgunj</div> <div> •<span class="Apple-tab-span" style="white-space:pre"> </span>Sitaram Kedia Sewa Sadan, Harion, Sarlahi</div> <div> •<span class="Apple-tab-span" style="white-space:pre"> </span>Nepal Bodhi Tree International Society, Birgunj</div> <div> •<span class="Apple-tab-span" style="white-space:pre"> </span>Mahabir Prasad Brijlal Kedia Sewa Trust, Birgunj</div> <div> •<span class="Apple-tab-span" style="white-space:pre"> </span>Kedia Children’s Scholarship Fund, Birgunj</div> <div> •<span class="Apple-tab-span" style="white-space:pre"> </span>Sushil Kedia Sewa Foundation, Birgunj</div> <div> </div> <div> <span style="font-size:14px;"><strong>Other Manufacturing units</strong></span></div> <div> •<span class="Apple-tab-span" style="white-space:pre"> </span>Brij Cement Pvt Ltd</div> <div> •<span class="Apple-tab-span" style="white-space:pre"> </span>Sundar Candles</div> <div> •<span class="Apple-tab-span" style="white-space:pre"> </span>Sushil Vanaspati Pvt Ltd</div> <div> •<span class="Apple-tab-span" style="white-space:pre"> </span>Yeti Fabrics Ltd</div> </div> </td> </tr> </tbody> </table> <div> </div>', 'published' => true, 'created' => '2014-01-20', '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' => 'Kedia Organisation, a multi-million business conglomerate is not only one of the largest business houses in Nepal but also one of the oldest. The business house has diversified itself into agriculture, dairy, banking, trading among other industries without leaving a bit of the manufacturing sector that the group is focused on.', 'sortorder' => '2296', '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' => '2452', 'article_category_id' => '134', 'title' => '“In The Long Run, Ethics Pays”', 'sub_title' => '', 'summary' => null, 'content' => '<div> </div> <div> <span style="font-size:14px;"><strong>Prof C Panduranga Bhatta</strong> is a Professor and founder coordinator of Business Ethics and Communication Group and Coordinator of Management Centre for Human Values at the Indian Institute of Management Calcutta (IIMC). He has been continuously involved in academic administration of the IIMC since 1999. In an interview with The Corporate’s <strong>Angila Sharma</strong>, he discussed core principles of business ethics and its relevance in the present context. <strong>Excerpts</strong></span><strong>:</strong></div> <div> </div> <div> <span style="font-size:14px;"><strong>Generally business ethics and CSR are treated as synonymous. How to distinguish them?</strong></span></div> <div> Before the introduction of the term Corporate Social Responsibility (CSR), business ethics’ definition was limited to not doing corruption in business. But now, business ethics is defined and understood in a broader way and includes Corporate Social Responsibility. So, I would like to say that CSR is one of the aspects of business ethics. As such, the business houses that are active in their CSR can be called ethical because they have realized that they have a duty to perform. </div> <div> </div> <div> Earlier, business houses would conduct business in an ethical manner but would not be concerned with the community. But, now, they should also be concerned with the society because they make profit because of the ordinary people around them. So, CSR is a part of business ethics.</div> <div> </div> <div> <span style="font-size:14px;"><strong>The popular view including that of the government is that business ethics and profit making cannot go hand in hand. What is your opinion on this? </strong></span></div> <div> This is the biggest mistake people are making. We can take examples of corporations in the international arena that are making profit ethically. Ethics means taking care of the safety of the products; it means you don’t do wrong to the customers through your products. Business ethics means that corporations allocate certain amount of their profit for the betterment of the people. So, the corporations, which are conducting business in an ethical manner, also earn profit.</div> <div> </div> <div> This issue can be looked upon in two ways. It depends on the business corporation whether it is looking at the short term or long term. Short-term business means operating for a small period of time, earning profit in any manner and then shifting to a new place. We describe these kinds of businesses as ‘fly by night operators’. This type of activity is completely unethical and we do not consider these types of activities as business. We are talking about business corporations that operate for a long period of time. Such business corporations do not limit themselves to stopping corrupt activities, but widen their view to the entire society. Thus, in the long run, such business houses survive, make profit and are considered as ethical business firms. In the long run, ethics pays.</div> <div> </div> <div> <span style="font-size:14px;"><strong>In today’s competitive world, how can business houses gain comparative advantage through practicing business ethics?</strong></span></div> <div> Globalization can give you advantage as well as disadvantage. Firstly, if you are an ethical company, you are welcomed everywhere. This is because of the reputation of the business house which is built on ethics. Business houses have to take care of ethics. For example: Infosys is a company that is present throughout the world. They have a motto that says ‘Powered by Intellect; Driven by values’. They have been practicing it and people have been watching their loyalty towards their motto.If people are convinced, they will accept the company. This way the business houses can gain comparative advantage. Their ethics provide them the comparative advantage.</div> <div> </div> <div> <span style="font-size:14px;"><strong>What innovative methods are being practiced or developed to instil human values in the management of business organizations?</strong></span></div> <div> Human Values is a very comprehensive term. It includes the behaviour of the business houses towards its customers, employees, community and the environment. The business house has to be concerned about the environment and the community while practicing business. </div> <div> </div> <div> Business houses can instil human values in their practice through the development of caring attitude.Any business houses should consider human beings as their first priority.As a businessperson, relationship matters a lot. If business houses fail to maintain good relationship with the employees, customers and the community, it fails. </div> <div> </div> <div> <span style="font-size:14px;"><strong>How do you see the situation of business in South Asia?</strong></span></div> <div> The situation is picking now because of globalization. People are exposed to the activities of business houses.Earlier, the situation was such that business houses would carry out their work in an unethical manner and to cover it up, they would do some charity and give donations. But, now, how any corporation makes business is noticed and reported. </div> <div> </div> <div> Another thing that is improving the situation is the international ranking. Every business house wants to participate in the international ranking. For example: Transparency International ranking.The moment you perform corrupt activities or you compromise with the safety of the employees and customers, you are ranked in the top of the most corrupt company. Earlier, companies were not concerned with the country’s image, but now, companies are tied up with the country. If the country does not have good image, nobody would want to do business in that country. Countries are the conglomerates of certain companies. This has helped in improving the situation of business ethics in South Asia and rest of the world.</div> <div> </div> <div> <span style="font-size:14px;"><strong>Marketing profession is derided as an example of unethical business practice. What is your suggestion to this professional field for overcoming this challenge?</strong></span></div> <div> In marketing, what matters the most is the product. Communication becomes very important while marketing. If you are giving false information to the consumers while selling the product, then, you lose reputation. If you are marketing a product that does no harm to the consumers, then it is not unethical.</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' => 'Prof C Panduranga Bhatta is a Professor and founder coordinator of Business Ethics and Communication Group and Coordinator of Management Centre for Human Values at the Indian Institute of Management Calcutta (IIMC). He has been continuously involved in academic administration of the IIMC since 1999. In an interview with The Corporate’s Angila Sharma, he discussed core principles of business ethics and its relevance in the present context. Excerpts:', 'sortorder' => '2295', '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' => '2448', 'article_category_id' => '144', 'title' => 'Better Late Than Never', 'sub_title' => '', 'summary' => null, 'content' => '<div> The government has prepared to start exploring natural gas (Methane) trapped below the surface of the Kathmandu Valley and excavate it for commercial use. The Department of Mines and Geology (DMG) has said that it will start gas exploration in Imadol of Lalitpur by mid-March. The Department has even sanctioned a budget of Rs 5 million for the project. Though late, this effort by the government is worth praising. It has revived hopes that the exploitation of this wealth below our feet could help address the energy crisis in the Kathmandu valley to some extent. </div> <div> </div> <div> It has been long proved that the Kathmandu Valley denizens are sitting on top of a huge deposit of underground natural gas which is highly combustible and can be utilized as a dependable alternative source of energy. In some areas of Patan, Thapathali and Tripureswor, the gas is being tapped by individual households free of cost.</div> <div> </div> <div> Studies carried out by the DMG with the help of donor agencies such as JICA from the late 1970S to late 1990s indicate the gas reserves can fulfill the domestic energy needs of an estimated 20,000 households in Kathmandu Valley for 30 years. In the past, the DMG had dug 14 gas wells in an area of 26 sq kms including Teku, Tripureswor and Koteswor of Kathmandu, and Imadol and Tikathali of Lalitpur. </div> <div> </div> <div> The DMG even established a model gas plant in Teku in 1983 which stopped operating in the late 1990s. The experiment was to see if gas supply was consistent enough for commercial use. According to sources at DMG, the gas collected in the plant was supplied to various government offices in the immediate vicinity of the model plant. </div> <div> </div> <div> In 2001, the DMG even floated a project titled ‘Kathmandu Gas Project’ in the private sector. But no private company showed any interest in the project. DMG had initiated the project with the help of JICA and UNDP, concluding that a potential gas reserve of about 300 million cu m exists in central and southern Kathmandu as far back as 1978.</div> <div> </div> <div> Reports on past exploration of the Valley’s gas have shown that the gas is biogenic and is mixed with water. This could be the reason why private investors think that the returns from gas excavation might not be very lucrative. That’s why they have not come forward for the excavation process. The DMG hopes that private investors can be roped in once it is established that the gas in the valley is commercially viable. That’s why it has decided to spend Rs 5 million initially in the exploration and excavation of gas at Imadol of Lalitpur. The DMG also hopes that this gas could be sold to housing companies or it can be used to produce thermal electricity of around 2 MW. </div> <div> </div> <div> However, instead of producing thermal energy from this gas, it would be wise to fill it in cylinders and supply it for household use or as fuel to means of transport. The import of petroleum gas from India is one of the major reasons behind our widening trade deficit with the southern neighbour. If the Valley’s gas can be used for cooking, for example, the import of LPG from India can be decreased to some extent. The government should think along this line. If the government’s experiment becomes successful, private investors will certainly come forward for the excavation of the gas.</div>', 'published' => true, 'created' => '2014-01-19', 'modified' => '2014-01-20', '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 government has prepared to start exploring natural gas (Methane) trapped below the surface of the Kathmandu Valley and excavate it for commercial use. The Department of Mines and Geology (DMG) has said that it will start gas exploration in Imadol of Lalitpur by mid-March. The Department has even sanctioned a budget of Rs 5 million for the project. Though late, this effort by the government is worth praising. It has revived hopes that the exploitation of this wealth below our feet could help address the energy crisis in the Kathmandu valley to some extent.', 'sortorder' => '2294', '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' => '2450', 'article_category_id' => '91', 'title' => 'New Foreign Aid Policy Ready Ceiling On Loans, Grants', 'sub_title' => '', 'summary' => null, 'content' => '<div> <strong>--By TC Correspondent </strong></div> <div> </div> <div> In a bid to bring foreign aid under the ambit of national system and priorities, the Ministry of Finance (MoF) has prepared a new foreign aid policy which will be implemented after the formation of a new elected government. “The new foreign aid policy is ready. It has been prepared after homework of nearly a decade following consultations with all stakeholders. Now we are waiting for the new government to implement it,” said Joint Secretary Madhu Kumar Marasini, chief of the International Economic Cooperation Coordination Division under the MoF.</div> <div> </div> <div> The new policy has some new provisions regarding foreign aid. According to the new policy, the government will not accept a foreign loan of less than USD 20 million and a grant of less than USD 5 million. However, the policy accepts technical assistances of smaller size.</div> <div> </div> <div> “The new policy has put ceilings on foreign loans and grants,” Marasini said, “It also has the provision of mentioning all foreign assistance in the Red Book.” According to Marasini, smaller donors will have to make their contribution through a pool fund.</div> <div> </div> <div> He added that the revised policy is aimed at boosting investments in sectors such as energy, infrastructure (highways and airports), agriculture and irrigation. “The new policy has prioritized these sectors which need huge investment,” Marasini made it clear. </div> <div> </div> <div> He added that the new policy will make the foreign assistance regime transparent. “It’s us who should be sitting in the driver’s seat, not the donors. This, in essence, is the fundamental of the new aid policy,” Marasini shared.</div> <div> </div> <div> The policy aims at graduating Nepal out of the group of least developed countries to the block of developing countries by 2022. </div> <div> </div> <div> At present, there are nearly 500 projects being run through foreign assistance. The new aid policy aims at bringing down the number of such projects to 150.</div> <div> </div> <div> There are nearly 40 international donors providing foreign assistance including loans, grants and technical assistance to Nepal at present. </div>', 'published' => true, 'created' => '2014-01-19', 'modified' => '2014-01-20', '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' => 'In a bid to bring foreign aid under the ambit of national system and priorities, the Ministry of Finance (MoF) has prepared a new foreign aid policy which will be implemented after the formation of a new elected government. “The new foreign aid policy is ready. It has been prepared after homework of nearly a decade following consultations with all stakeholders. Now we are waiting for the new government to implement it,” said Joint Secretary Madhu Kumar Marasini, chief of the International Economic Cooperation Coordination Division under the MoF.', 'sortorder' => '2293', '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' => '2446', 'article_category_id' => '122', 'title' => 'Chachan Group: Cementing Its Foundation', 'sub_title' => '', 'summary' => null, 'content' => '<div> </div> <div> <strong>--By Gaurav Aryal and Om Prakash Khanal</strong></div> <div> </div> <table align="right" style="margin: 0px 0px 0px 10px;" width="25"> <tbody> <tr> <td> <img alt="Satish Chachan, Director, Chachan Group" src="/userfiles/images/sptlght1%20(Copy).jpg" style="border-width: 0px; border-style: solid; width: 200px; height: 221px;" /></td> </tr> <tr> <td bgcolor="#FFFFFF"> <div align="center"> <div style="text-align: center;"> <div> <strong>Satish Chachan</strong></div> <div> <em>Director, Chachan Group</em></div> </div> </div> </td> </tr> </tbody> </table> <div> Chachan Group evolved into a manufacturing and trading house when it changed its course into manufacturing from the family owned trading business. This move not only made the group grow leaps and bounds but also established itself as a leading industrial and trading house. The group in its initial days traded various commodities such as leather and leather products, cement, vegetable ghee, food grains, lentils, oil seeds, spices, consumer goods, fertilizer, pulses, edible oils and animal feeds. Today, the group not only trades these commodities but also produces them. The group’s expansion was not merely driven by the market force. There were visions and entrepreneurial skills of earlier generation of businessmen, Mahabir Prasad Chachan and Shree Maliram Chachan, who steered the business towards what it is today. When the group passed onto the new generation of businessmen, Babu Lal Chachan and Parmeshwar Lal Chachan who are Chairman and Vice-Chairman respectively, the group had reached to a position from where it would never have to look back. </div> <div> </div> <div> <span style="font-size:14px;"><strong>Growing Larger</strong></span></div> <div> Satish Chachan, Director of Chachan Group says that the group is continuously following the tradition established by its founders towards further growth of the company. He proudly says, “Compared to the group’s initial days, the company has achieved a remarkable success in cement manufacturing besides continuing its decades old cement selling business.” Within the last decade, the group has established three cement grinding plants each having a production capacity of 350 metric tonnes (MT) of cement per day in Birgunj. Similarly, the group has begun the construction of fourth cement grinding plant in Nepalgunj with the same capacity as that of a single unit in Birgunj.</div> <div> </div> <div> Chachan says that the group had established a poly-plastic bag industry two years back in Birgunj. This factory has enabled the group’s cement plants to use its own cement packing bags. “This poly-plastic bag industry has also earned a big business faith in the major sectors of the country. This clearly indicates the satisfactory present and past situation of the company and its growing capability to contribute a large amount of revenue to the nation.”</div> <div> </div> <div> <span style="font-size:14px;"><strong>Gaining Strength</strong></span></div> <div> The group has shown remarkable progress in goods manufacturing that it has decided to specialise on. At present, it is producing cement, vegetable oil, leather goods, poly-plastic goods and various food products through its food processing units. Likewise, the group is also involved in trading through its three companies who have direct presence in over 19 different cities across the country.</div> <div> </div> <div> Chachan Group is today considered one of the leading business houses of Nepal based in Birgunj for producing variety of commodities with a wide reach across the country. Chachan claims that the products range that the company trades in and its wide network are suggestive of their market and the robust financial strength of the group.</div> <div> </div> <div> He shares that the annual turnover of the group exceeds Rs 4 billion. He also adds that the staggering 70 per cent of the total turnover is generated by the cement wing of the group. While sharing the strength of the group, Chachan boasts that his business has been employing 1500 people directly along with a huge number of indirect employments in transportation and handling of the raw materials and finished products. He also adds that 300 employees are working in the cement wing alone. The group’s beneficiaries such as construction companies, commercial enterprises, transporters, traders, farmers and consumers are spread over major parts of Tarai and hilly regions of the country.</div> <div> </div> <div> <span style="font-size:14px;"><strong>Changing the Course</strong></span></div> <div> For decades, the group had been trading various commodities. Chachan says, “This trade grew bigger and flourished gradually, which ultimately evolved into the establishment and identification of the Chachan Group. This can be regarded as the first and fundamental turning point of the company.” Gradually the trading business expanded; meanwhile, various new manufacturing units were established.</div> <div> </div> <div> Around one and a half decade ago, the group decided to establish cement manufacturing units realising the growing demand of construction materials and cement in particular. This demand was identified when the state owned cement plants such as Hetauda Cement, Udaypur Cement and other private cement producers were unable to meet the major percentage of cement demands. This inspired the group to establish Narayani Cement Udyog Pvt Ltd in Birgunj. This company today has production capacity of 1050 tonnes per day. </div> <div> </div> <div> <span style="font-size:14px;"><strong>Roadmap Ahead</strong></span></div> <div> Chachan believes that the group has kept its promise of offering best quality products and services at a reasonable cost and claims that it would open up new avenues for the group to expand its manufacturing and trading businesses in the days ahead. “Our past experience gives us confidence that we have further opportunities and scope for expansion. We want to establish our own clinker producing units so that we can stand as one of the leading cement and clinker manufacturer of Nepal,” envisions Chachan.</div> <div> </div> <div> He reveals that the group has a clinker producing plant in the pipeline. He elaborated that this new plant will have a production capacity of 700 to 750 tonnes per day. Likewise, once the Nepalgunj based cement plant comes into operation, the group is planning to add another cement grinding plant there with production capacity and design similar to the existing one.</div> <div> </div> <div> Similarly, Chachan reveals that the group is planning to acquire a limestone quarry in a hilly area of Makawanpur district, few kilometres away from Hetauda. “Besides this, we have been thinking to buy some additional land to establish the clinker producing plant.Though we are already in touch with some of the renowned Indian companies for establishing the clinker plant, we think this will materialise only after three to five years from now,” he added. Similarly, Chachan is ready to expand other plants depending on the market demand and financial status.</div> <div> </div> <div> <img alt="Chachhan Group" src="/userfiles/images/sptlight%20(Copy).jpg" style="margin-left: 10px; margin-right: 10px; height: 333px; width: 550px;" /></div> <div> </div> <div> <span style="font-size:16px;"><strong>CSR Commitments</strong></span></div> <div> As part of its Corporate Social Responsibility (CSR), the group has given prime importance to environmental protection and freeing its locality from pollutants. The group is also strengthening and accelerating its sustainable environmental efforts through the reduction of environmental impacts and the conservation of the biodiversity. “We have been aiming to provide satisfaction and gratification to as many stakeholders as possible. To this aspect, we believe and act ethically and relentlessly to seek improvement in the quality, safety, information security and reliability of our products and services,” explains Chachan.</div> <div> </div> <div> Satish Chachan, Director of the group says, “We respect our customer and their culture and the community they belong to while we deal with them in the course of our business activities. We also engage in dialogues with various stakeholders in society and incorporate their feedback to enhance our CSR activities so that we can contribute our best to improve our surroundings, quality and the effectiveness of our activities.” </div> <div> Similarly, the company has dedicated itself in creating a safe and comfortable work environment for all its employees so that they can realise their full potential and have a fulfilling career, as a responsible corporate culture.</div> <div> </div> <table border="0" cellpadding="10" width="99%"> <tbody> <tr> <td bgcolor="#E5E4E2"> <div> <div> <span style="font-size:16px;"><strong>Sister Companies of Chachan Group</strong></span></div> <div> •<span class="Apple-tab-span" style="white-space:pre"> </span>Narayani Cement</div> <div> •<span class="Apple-tab-span" style="white-space:pre"> </span>Jaya Bageshwari Cement</div> <div> •<span class="Apple-tab-span" style="white-space:pre"> </span>Narayani Oil Refinery Udyog</div> <div> •<span class="Apple-tab-span" style="white-space:pre"> </span>Narayani Leather Manufacturing Industries</div> <div> •<span class="Apple-tab-span" style="white-space:pre"> </span>Narayani Modern Pulses Industries</div> <div> •<span class="Apple-tab-span" style="white-space:pre"> </span>Shree Adhunik Dal Udyog</div> <div> •<span class="Apple-tab-span" style="white-space:pre"> </span>Shree Agro Processing Unit</div> <div> •<span class="Apple-tab-span" style="white-space:pre"> </span>Adarsh Oil Industry</div> <div> •<span class="Apple-tab-span" style="white-space:pre"> </span>Adarsh Tel Udyog</div> <div> •<span class="Apple-tab-span" style="white-space:pre"> </span>Adarsh Polyplastic Pvt Ltd</div> <div> </div> <div> <span style="font-size:16px;"><strong>Independent Trading Concerns under the Group</strong></span></div> <div> •<span class="Apple-tab-span" style="white-space:pre"> </span>Chachan Implex</div> <div> •<span class="Apple-tab-span" style="white-space:pre"> </span>Devki International </div> <div> •<span class="Apple-tab-span" style="white-space:pre"> </span>Manoj International Traders</div> <div> </div> <div> <span style="font-size:16px;"><strong>SWOT Analysis</strong></span></div> <div> </div> <div> <span style="font-size:14px;"><strong>Strengths</strong></span></div> <div> •<span class="Apple-tab-span" style="white-space:pre"> </span>Customers </div> <div> •<span class="Apple-tab-span" style="white-space:pre"> </span>Staff </div> <div> •<span class="Apple-tab-span" style="white-space:pre"> </span>Good quality products and services</div> <div> •<span class="Apple-tab-span" style="white-space:pre"> </span>Reasonable price </div> <div> •<span class="Apple-tab-span" style="white-space:pre"> </span>Harmonic relationship with employees, customers and local surroundings</div> <div> •<span class="Apple-tab-span" style="white-space:pre"> </span>Disciplined working attitude</div> <div> •<span class="Apple-tab-span" style="white-space:pre"> </span>Timely revenue payments to the government </div> <div> </div> <div> <span style="font-size:14px;"><strong>Weaknesses</strong></span></div> <div> •<span class="Apple-tab-span" style="white-space:pre"> </span>Inability to give hundred percent employment to the local residents </div> <div> •<span class="Apple-tab-span" style="white-space:pre"> </span>Cannot fulfill the donation demands from local parties and their leaders </div> <div> </div> <div> <span style="font-size:14px;"><strong>Opportunities</strong></span></div> <div> •<span class="Apple-tab-span" style="white-space:pre"> </span>Prospects for growth of construction material businesses</div> <div> •<span class="Apple-tab-span" style="white-space:pre"> </span>Growing domestic market and purchasing capacity of people</div> <div> •<span class="Apple-tab-span" style="white-space:pre"> </span>Rapidly emerging technological innovations</div> <div> </div> <div> <span style="font-size:14px;"><strong>Threats</strong></span></div> <div> •<span class="Apple-tab-span" style="white-space:pre"> </span>Lack of smooth business environment</div> <div> •<span class="Apple-tab-span" style="white-space:pre"> </span>Frequent bandhs and strikes </div> <div> •<span class="Apple-tab-span" style="white-space:pre"> </span>Lack of environment to work peacefully and uninterruptedly where the group is based</div> <div> </div> <div> <span style="font-size:16px;"><strong>Market Positioning</strong></span></div> <div> Products of Chachan Group has a wide market coverage including major cities and towns such as Birgunj, Hetauda, Kalaiya, Narayanghat, Kathmandu, Bhaktapur, Banepa, Batar, Pokhara, Bhairahawa, Krishna Nagar, Dang, Nepalgunj, Dhangadhi, Nijgarh, Gaur, Lahan, Janakpur, Jhapa, Morang, Ilam and other places in hilly and Tarai region. According to the group, major market for cement is in all the belts extending from Birgunj to Jhapa and in Hetauda, Narayanghatand major cities and towns of Bagmati zone.</div> <div> </div> <div> According to Satish Chachan, Director of the group, product placement is done through various dealers and transporters. Group’s contact or branch offices and dealers are channels for distribution. Major product range includes daily commodities, construction materials, leather goods, fertilizers among others. </div> <div> All the factories of the group are being operated in full capacity to meet the market demand. Products are sold under different brand names such as Trishakti and Bajrashakti in the cement segment while other commodities also have their own niche brand value recognised in their market targets.<span class="Apple-tab-span" style="white-space:pre"> </span></div> </div> </td> </tr> </tbody> </table> <p> </p>', 'published' => true, 'created' => '2014-01-19', 'modified' => '2014-01-20', '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' => 'Chachan Group evolved into a manufacturing and trading house when it changed its course into manufacturing from the family owned trading business. This move not only made the group grow leaps and bounds but also established itself as a leading industrial and trading house. The group in its initial days traded various commodities such as leather and leather products, cement, vegetable ghee, food grains, lentils, oil seeds, spices, consumer goods, fertilizer, pulses, edible oils and animal feeds.', 'sortorder' => '2292', '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' => '2419', 'article_category_id' => '109', 'title' => 'Nepse Begins The Week With A Decline', 'sub_title' => '', 'summary' => null, 'content' => '<div> </div> <div> <strong>--By Sanjeev Sharma</strong></div> <div> </div> <div> Nepal Stock Exchange Limited (Nepse) index, the barometer of country’s capital market dropped by almost 5.28 points on Sunday, the first trading day of the week. The bench mark index, which was closing at 763.76 on Thursday-- the last trading day of previous week settled at 758.48 points on Sunday. Following the Nepse, Sensitive index representing class ‘A’ listed companies in the secondary market, loses 1.39 points to settle at 169.56. </div> <div> </div> <div> The fall in Nepse Sunday is attributed by decrease in all sub-indices except Finance sub-index traded in the day. Hotel sub-index was the biggest loser with a fall of 45.23 points (4.01%). Similarly, the sub-indices of ‘Other’, Hydropower and Commercial banks fell by 15.27, 11.34 points and 4.99 points respectively for the day. The Insurance sub-index loses (2.39 points) followed by Development Banks sub-index (0.52 points) and Trading (0.08 points). </div> <div> </div> <div> <span style="font-size:14px;"><strong>Nepse Mostly Down for the Week in Thin Trading</strong></span></div> <div> After sharp gains for 6 consecutive weeks, the Nepse index continued its retreat for second week in a row amid thin weekly trading. Nepse closed down by 16.03 points last week. Profit booking strategy of investors along with warnings about the unnatural surge in the index from regulators and top government officials seem to have reined the stock market. Many investors are selling the stocks they bought few months back to secure profit.</div> <div> </div> <div> For the period of 29th December and 3rd January, the number of transactions came down to 11,093 (which was 15,000 last week). In the mean time, altogether 3.6 million units shares that worth Rs 2.27 billion turnovers being sold in the stock market. Last week, Nepse’s turnover fell by 36.18 per cent compared to the previous week. Similarly, the number of transaction and number of share traded also declined by 26 per cent and 33 per cent respectively. However, analysts say that the stock market will rise next week as selling pressure in the market is low despite the decline in the index. This indicates that the demand for shares in the lower price is exceeding its supply, which is expected to boost the price in the near term. </div> <div> </div> <div> According to the turnover, shares of the Nepal Bangladesh Bank reached the top spot for the week in the market. Nabil Balance Fund-1, meanwhile, climbed to no one spot in terms of the number of units being traded for the week. Likewise, Nepal Telecom maintained its top spot in terms of market capitalization in the domestic market. </div> <div> </div> <div> Nepse index which opened at 787.36 points on the first day of weekly trading (Sunday) fell by around 16 points to close at 763.76 on the last day of the week (Thursday). Most of the sub-indices listed in the Nepse witnessed decline in their values last week. According to weekly transaction, the Hotel sub-index was the biggest gainer with a rise of 17.16 points. All other sub-indices followed downward trend. Last week, Hydropower sub-index was the biggest loser (82.05 points). Similarly, the sub-index of insurance sector fell 38.29 points followed by commercial banks (19.9 points), development banks (7.6 points), finance companies (2.45 points). Likewise, the ‘Other’ sub-index came down by 2.35 points. The Manufacturing sub-index remained unchanged as earlier weeks. The Sensitive Index which represents the share trading of blue chip stocks belonging to class ‘A’ listed companies fell 4.25 points last week. </div> <div> </div> <div> For the week, shares of 125 companies were traded in the stock market. Share prices of 26 companies observed a gain, while price of 73 companies declined last week. Shares prices of 26 companies remained unchanged over the period. </div> <div> </div> <div> <img alt="Nepse Index" src="/userfiles/images/indx%20(Copy)(2).jpg" style="width: 550px; height: 371px; margin-left: 10px; margin-right: 10px;" /></div>', 'published' => true, 'created' => '2014-01-06', 'modified' => '2014-01-19', '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 Stock Exchange Limited (Nepse) index, the barometer of country’s capital market dropped by almost 5.28 points on Sunday, the first trading day of the week. The bench mark index, which was closing at 763.76 on Thursday-- the last trading day of previous week settled at 758.48 points on Sunday. Following the Nepse, Sensitive index representing class ‘A’ listed companies in the secondary market, loses 1.39 points to settle at 169.56.', 'sortorder' => '2291', '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' => '2447', 'article_category_id' => '145', 'title' => 'Hydropower Development For Self-reliant Economy', 'sub_title' => '', 'summary' => null, 'content' => '<div> </div> <div> <strong>--By Dr Subarna Das Shrestha</strong></div> <div> </div> <div> Development of energy is a must if Nepal is to achieve economic prosperity. Energy development in Nepal’s context means none other than the development of hydroelectricity. Nepal’s journey of hydropower development is a century old. The country has been able to produce 718 MW of hydroelectricity over this period. Out of this, nearly 34 percent or 240 MW is being produced by the private sector. The Nepal government allowed the private sector to invest in hydropower through the enactment of the Hydroelectricity Act in 1992.</div> <div> </div> <div> Braving different difficulties, both the private and public sectors have been trying to increase investment in the hydroelectricity sector even in today’s transitional period. Projects worth 1,200 MW are under construction; out of this 28 projects of total capacity of 360 MW are being built by the private sector. Power purchase agreement (PPA) for projects worth nearly 500 MW being developed by the private sector has been done. These projects will enter the construction phase over the next two years and will start producing electricity over another five years. </div> <div> </div> <div> However, there are various problems in the hydropower sector. If we don’t tackle these problems in time, the current energy crisis will only deepen. The country is already reeling under long hours of load shedding. Several industries are faced with the risk of closure because of long load-shedding hours. If that happens, the unemployment figure will rise further. To improve the situation, we need to increase investment in hydropower. However, there will be no significant investment from either domestic or international investors in hydropower as long as an environment for investment security is not created.</div> <div> </div> <div> In order to encourage everyone to create a favourable investment environment for the hydropower sector, the Independent Power producers’ Association, Nepal (IPPAN) had organized the Power Summit 2013 on August 26-27. The summit was focused on four themes: internal investment for projects of internal consumption; external investment for projects of internal consumption; projects focused on external markets; and transmission lines, electricity trade mechanism and marketization. The discussion on these themes helped bring to surface the legal, social, financial and political problems marring hydropower development in the country.</div> <div> </div> <div> To increase investment in the hydropower sector, the first requirement is guarantee of good returns while signing the PPA itself. Second, there should be no obstacles after the project enters the construction phase. The process of issuing license must be eased. For this there should be a one-window policy; the Ministry of Energy should handle everything related to hydroelectricity. At present the situation is such that to seek license for one hydropower project, power producers have to visit 10 ministries and as many government departments. This is a big hassle for independent power producers and increases the cost of the project.</div> <div> </div> <div> The Nepali private sector is ever ready to assist the government in addressing these problems to create the environment of investment in the hydropower sector. If that happens, domestic investment will definitely increase while the country can attract foreign investment as well. However, foreign investors want to sign PPA in the currency of investment. The government should open the doors for an arrangement to sign the PPA in US dollar and make the payment accordingly. If this happens, we can produce the amount of energy we need within the country. Power transmission is another important aspect for which the government has already allocated a budget of Rs 13.5 billion. This step taken by the government is praiseworthy.</div> <div> </div> <div> The annual per capita consumption rate of electricity in Nepal at present is only around 100 units. Fifty percent of the population has no access to electricity at all. Let’s increase the per capita consumption of electricity by five times over the next one decade. We had raised this issue in the Power Summit as well. If we can produce more electricity than we need, the surplus electricity can be marketed in other countries of the region. It is for this reason that the concept of ‘SAARC Grid’ has been forwarded. Nepal will get the maximum benefit from such a regional grid. That’s why we should take the leadership for the construction of SAARC Grid.</div> <div> </div> <div> Rather than focusing on the cost of production of one unit of hydroelectricity, we should think about the loss to the total GDP caused by the non-production of one unit of electricity. A decision regarding 20 per cent post-PPA rate has already been taken by the Cabinet. But this decision is pending at Nepal Electricity Authority. The decisions taken by the government should be implemented. This will send out a good message to all domestic and foreign investors. Taking good decisions is important but implementing such decisions in time is even more important.</div> <div> </div> <div> NEA has a monopoly over hydroelectricity in Nepal. It’s high time we created separate companies for building transmission lines and electricity trade. Similarly, we should have wheeling system in place. In this system one has to pay rent for transmitting electricity through another transmission line. If these concepts are implemented, the private sector can share some of the burden of the NEA. The government has already committed to make these changes in the hydropower sector. What remains is their implementation.</div> <div> </div> <div> At last, the country’s economy cannot achieve a momentum without the development of the hydropower sector. The government and the private sector should join hands for the development of the hydropower sector. If we can do that, we will not only be self-reliant in hydropower but also will be able to export electricity to other SAARC nations. </div> <div> <em>(The author is the immediate past president of IPPAN.)</em></div>', 'published' => true, 'created' => '2014-01-19', 'modified' => '2014-01-19', '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' => 'Development of energy is a must if Nepal is to achieve economic prosperity. Energy development in Nepal’s context means none other than the development of hydroelectricity. Nepal’s journey of hydropower development is a century old. The country has been able to produce 718 MW of hydroelectricity over this period. Out of this, nearly 34 percent or 240 MW is being produced by the private sector. The Nepal government allowed the private sector to invest in hydropower through the enactment of the Hydroelectricity Act in 1992.', 'sortorder' => '2290', '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' => '2334', 'article_category_id' => '109', 'title' => 'Nepse Index Gained 92 Points Last Week Daily Average Turnover Rises 33 Percent', 'sub_title' => '', 'summary' => null, 'content' => '<div> </div> <div> <strong>--By Sanjeev Sharma</strong></div> <div> </div> <div> Nepal Stock Exchange (Nepse) index declined on Sunday by 9.51 points, indicating that the benchmark index of country’s capital market is making corrections after continuous rise of four weeks. On the first day of weekly trading, Nepse settled down at 796.14 points, retreating from last Friday’s closing of 805.65 points. On Sunday, a total of 1.99 million shares were traded through 4,220 transactions on Nepse with the total turnover recorded at Rs 771.67 million. The total market capitalization reached Rs 807 billion on the domestic stock market. The Hydropower sub-index was seen as the biggest loser with 40.06 points. Insurance sub-index emerged as the biggest gainer (31.11 points). The Banking sub-index also lost its footing (17.64 points) followed by Finance (8.62 points) and ‘Others’ (2.35 points). Meanwhile, sub-indices of Development Banks and Hotels gained 7.98 points and 13.27 points respectively. </div> <div> </div> <div> Nepse continued its winning streak last week as the benchmark index again witnessed double-digit gain. The index, which stopped at 713.92 points previous week, surged 91.73 points to reach a record high level of 805.65 points on Friday. Meanwhile, the daily average transaction amount at the index also went up by 32.75 per cent. The daily average transaction amount was recorded at Rs 526.70 million last week against Rs 396.70 million of previous week. </div> <div> </div> <div> Over the period of 15th December to 19th December, the number of trading at Nepse index totaled to 9,800 with 507.12 million shares worth Rs 2.10 billion being sold in the stock market. Last week, transaction volume increased by 6.19 per cent, compared to the previous week. The relatively small increment in transaction amount, however, was overshadowed by sharp rise in average transaction in Nepse which opened for four trading days last week. </div> <div> </div> <div> According to the turnover, shares of the Nepal Bangladesh bank topped the index. Meanwhile, Siddhartha Growth Scheme 1 reached the top spot in terms of the number of units being transacted for the week. Nepal Telecom maintained its top spot in terms of market capitalization. </div> <div> </div> <div> Nepse index, on the first day (Sunday) rose by 2.71 points to settle at 733.25 followed by the second day (Monday) gain of 5.18 points to close at 771.2. On Tuesday, the benchmark index did not resume its trading due to the public holiday. The surge in Nepse continued as it rose by 4.62 points on Wednesday to settle at record high level of 806.82. It was the best performance of the benchmark index since November 13, 2008 when Nepse reached 806.9 points. However, on the last day of weekly trading (Thursday), NEPSE shed 1.17 points to close at 805.65. As many analysts including the stock market officials and regulators warned the investors about vulnerabilities posed by the unnatural surge, the index was forced to made marginal correction. According to them, the continuous rise in Nepse after the second CA elections does not match ground realities and basic fundamentals of the market. </div> <div> </div> <div> Share trading of most of the trading sub-groups increased during the week. Hydropower sub-group was the biggest gainer with a rise of 148 points. Previous week’s biggest loser, the insurance sector gained traction this week as the sub-group achieved 107.93 points. Similarly, the sub-groups of commercial banks and hotel gained 92.39 points and 75.86 points respectively. Likewise, the ‘Other’ sub-group gained 56.38 points followed by Development Bank (18.09 points) and Finance Companies (13.47 points). The Sensitive Index which represents the share trading of blue chip stocks belonging to class ‘A’ listed companies went up by 17.14 points. Manufacturing and Trading sub-group remained same as earlier week. </div> <div> </div> <div> Shares of 130 companies were transacted during the week. 97 companies observed a gain, while shares price of 9 companies declined last week. Shares price of 24 companies remained unchanged over the period.</div> <div> </div> <div> <img alt="Index" src="/userfiles/images/INDEX.jpg" style="width: 550px; height: 304px; margin-left: 10px; margin-right: 10px;" /></div>', 'published' => true, 'created' => '2013-12-23', 'modified' => '2014-01-19', '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 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', 'sortorder' => '2289', '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' => '2445', 'article_category_id' => '202', 'title' => 'Zeal To Work', 'sub_title' => '', 'summary' => null, 'content' => '<div> </div> <div> <strong>--By TC Correspondent</strong></div> <div> </div> <div> Barsha Shrestha, Acting CEO of Clean Energy Development Bank defines herself as a very humble and hard working person. Shrestha enjoys her professional and personal life equally and therefore finds no difficulty in managing time for both. She considers her family as her biggest strength and shares that they are very supportive. “My husband and my children are very supportive, they appreciate my work and are very proud of me,” she said.She regards her parents as her inspiration and credits them for her present standing. Next to them, she finds Mother Teresa’s idealsvery muchinspirational.</div> <div> </div> <div> Shrestha wishes to spend maximum time with her family and in-laws. However, she hardly gets time to do due to her hectic professional schedules. She loves engaging herself in household activities like cooking, cleaning house, gardening and watching television. She is very fond of pickles and likes making variety of pickles in her spare time.</div> <div> </div> <div> She loves travelling and has visited various countries including the United States of America, Australia, France and Germany. She is fond of visiting exotic places and recalls her tripsto Myanmar and Cambodia as one of the most memorable trips.</div> <div> </div> <div> As a positive person she perceives life as a beautiful gift. Shrestha believes in respecting others for being happy in life. She says, “My motto in life is to be happy and true happiness can only be attained if we respect others”. She likes to spend most of her free time in socializing with different people. Shrestha feels proud to be part of the Nepali culture and thinks that Nepali culture has always taught her to respect and love others.</div> <div> </div> <div> As a socially active person she is involved with many organizations such as the Confederation of Nepalese Industries- Women Entrepreneurs and Professional Forum (CNI-WEPF). She is among the Board of Directors of Samriddhi Foundation and is also engaged in many other social activities. </div> <div> </div> <div> Shrestha likes reading economic news but has no interest in political issues. She has fascination towards music and watches many music reality shows on television. </div> <div> </div> <div> Shrestha believes poor time management as one of her weaknesses and sometimes finds trouble in prioritizing her work properly. She believes her staff and customers to be her biggest strength and is thankful towards them for trusting her.</div>', 'published' => true, 'created' => '2014-01-19', 'modified' => '2014-01-20', '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' => 'Barsha Shrestha, Acting CEO of Clean Energy Development Bank defines herself as a very humble and hard working person. Shrestha enjoys her professional and personal life equally and therefore finds no difficulty in managing time for both. She considers her family as her biggest strength and shares that they are very supportive. “My husband and my children are very supportive, they appreciate my work and are very proud of me,” she said.She regards her parents as her inspiration and credits them for her present standing. Next to them, she finds Mother Teresa’s idealsvery muchinspirational.', 'sortorder' => '2288', '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' => '2310', 'article_category_id' => '40', 'title' => 'New Nepali ‘Laissez Faire’ How Strong? How Long?', 'sub_title' => '', 'summary' => null, 'content' => '<div> </div> <div> </div> <div> The nation after its recently concluded historic polls for the next Constituent Assembly and Parliament registering 71% turnout, now expects liberal economy, business freedom, large-scale FDI and power generation, and employment promoting measures from the new Constitution and the government that comes ahead, as found by Prof Ujjwal K Chowdhury, after talking to several people from various walks of life.</div> <div> </div> <div> There is hope in the air. Seven out of every ten Nepalis on the voters’ list of Nepal have exercised their franchise. And, six out of every ten Nepalis who have voted have gone for centrist and liberal left political forces (Nepali Congress & CPN UML), while virtually rejecting the far left polls-boycotting so-called 33-party alliance, the radical left Maoists led by Prachanda, and the rightist regional forces of Madheshis and far right RPP forces.</div> <div> </div> <div> The message is clear. Enough of politicking, now make the polity firm and economy firmer. Create a business environment that is conducive to entrepreneurs, to foreign direct investment and to rapid employment generation.</div> <div> </div> <div> New Business Age interacted with several experts and noted people from various walks of life to ascertain the mood of the nation with regards to the economy of tomorrow.</div> <div> </div> <div> There is surely a high hope that the newly elected CA-Parliament will draft the new constitution that would introduce new economic policies that would propel the country toward the positive direction and we could witness the inevitable growth and development of the country coming with a stable economy. </div> <div> </div> <div> Eminent economist Rameshore Khanal, the former Finance Secretary sums up the spirit rightly, “The Constituent Assembly election results show parties contesting on conservative economic ideologies have been rejected by voters. Nepali Congress (NC), which is considered as a party having the most liberal economic policies, dominated the polls especially in urban areas across the nation. People expressed their aspirations and exercised their power during this election so as to set the progressive course for issues that matter them the most.”</div> <div> </div> <div> The defeat of the Maoists and the regional forces is also seen as the defeat of the federalist agenda. Khanal further notes, “In fact, business community was terrorized due to ethnicity-based federal agenda put forth by UCPN Maoist,” he said, adding that the recent poll results might have relieved the entire business community. More than 90 per cent businessmen do not want federalism based on ethnicity because they cannot do good business amid ethnic tensions. The entire business environment would be more volatile if political parties that favour regional and ethnic agenda had won the election”.</div> <div> </div> <div> Rightly does Kamlesh Kumar Agrawal, the General Secretary of Nepal Chamber of Commerce, observe, “Clear mandate for the centrist parties is a good sign indeed, and a major difference from the last CA election result. Now is the time for them to fulfill their promises of economic revolution or rapid development”.</div> <div> </div> <div> Shekhar Golchha, the President of Nepal Automobile Dealers’ Association, is visibly happy with the turnout, the peaceful polls and the results emerging out of the process. He is satisfied that while issues of federalism, sub-national identity etc found limited mention in election manifestos of most parties, the focus has rightly been on economic aspects and stability of the polity. </div> <div> </div> <div> Bhaskar Raj Rajkarnikar, the Senior Vice President of Federation of Nepalese Chambers of Commerce and Industry (FNCCI), is confident that the new Constitution shall finally be put in place in Nepal now. And the government shall now work firmly towards creating investment-friendly environment in the country. However, he also strongly espouses the need to have local governance bodies as well.</div> <div> </div> <div> <img alt="CA Election " src="/userfiles/images/cs1%20(Copy)(2).jpg" style="width: 550px; height: 209px; margin-left: 10px; margin-right: 10px;" /></div> <div> </div> <div> <span style="font-size:14px;"><strong>Common Minimum Economic Agenda</strong></span></div> <div> It would be pertinent to mention here that the five recent former Prime Ministers of Nepal (Madhav Nepal and Jhalanath Khanal of CPN UML, Sher Bahadur Deuba of Nepali Congress, and Pushpa Kamal Dahal and Dr Baburam Bhattarai of UCPN Maoist) came on the same platform of Nepal Leadership Summit created in Birgunj by the Birgunj Chamber of Commerce and Industry and New Business Age group, and at the end of their deliberations on Economic Growth Roadmap of Nepal for the next one decade, they had signed a 12-point Common Minimum Economic Agenda, which included several fundamental issues.</div> <div> </div> <div> The Declaration noted that the ratifying five leaders commit to give priority to the national economic agenda rather than their respective party agenda in national interests, and also to end the current uneasy industrial relations in favour of productivity, and bring in a new labour and industrial policy conducive to overall economic development. The leaders firmly were committed to individual property rights, the important role of the private sector in the economy, and to an environment to attract rapid FDI in Nepali industries.</div> <div> </div> <div> A sampling of the core issues taken up in the talks by these leaders: “Unhindered power supply is the pre-condition for economic development, in which the government should not run businesses, but just be the regulator,” Sher Bahadur Deuba; “Green economy the focus of economic development,” Madhav Nepal; “Agriculture, regional market and infrastructure development for economic prosperity,” Jhala Nath Khanal; “Foreign investment urgently required, and economic revolution with justifiable distribution must,” Dr Baburam Bhattarai; “Time for economic revolution, in which agriculture is the base, and production, construction and development going hand in hand,” Pushpa Kamal Dahal.</div> <div> </div> <div> Today, since three of these former PMs are the top leaders of the top two parties, Nepali Congress and CPN UML, getting support of above 50% of the voters who exercised their franchise, this itself can be the first corner-stone of economic policy-making of Nepal next.</div> <div> </div> <div> <img alt="CA Election Nepal" src="/userfiles/images/cs2%20(Copy)(1).jpg" style="width: 550px; height: 355px; margin-left: 10px; margin-right: 10px;" /></div> <div> </div> <div> <span style="font-size:14px;"><strong>Securing Private Property</strong></span></div> <div> </div> <table align="left" style="margin: 0px 10px 0px 0px;" width="25"> <tbody> <tr> <td> <img alt="Narottam Aryal, Educationist" src="/userfiles/images/cs3%20(Copy)(1).jpg" style="border-width: 0px; border-style: solid; width: 200px; height: 259px;" /></td> </tr> <tr> <td bgcolor="#DDDDDD"> <div align="center"> <div style="text-align: center;"> <div> <strong>Narottam Aryal</strong></div> <div> <em>Educationist</em></div> </div> </div> </td> </tr> </tbody> </table> <div> The first and the biggest concern is of security of private property and business.</div> <div> </div> <div> “The new constitution MUST acknowledge the role of private sector in the national development and ensure the property rights and should guarantee its security,” notes Narottam Aryal, an educationist leading the forum of Nepali colleges affiliated to foreign universities. </div> <div> </div> <div> Similar voice is echoed by the Manager (Business Development), Chaudhary Group, Roshee Lamichhane, “There is an urgent need to espouse and introduce economic reforms in Nepal with their principal focus on Private Property holding, freedom for entrepreneurial innovation, and abolishing cartel systems.”</div> <div> </div> <div> <span style="font-size:14px;"><strong>Employment Generation</strong></span></div> <div> Property rights apart, the next big concern is naturally of employment. </div> <div> </div> <div> According to Central Bureau of Statistics, the unemployment rate stands at an alarming 46 percent. The only ambition that most young people have is to leave Nepal and a couple of thousands of young people get on planes every day and fly to the Middle East, South East Asia, Europe and beyond to find jobs. However, there is a huge potential of jobs within the country itself. “To address this issue to a larger extent I believe private sectors should be promoted to play a vital role in the growth of national economy and in creating new employment opportunities as it is the only sector that remains the single largest employer,” notes Amit Giri, CEO of International Centre of Academics focused on the task of taking higher education through distance and online learning mode to working people of Nepal.</div> <div> </div> <div> <span style="font-size:14px;"><strong>Limiting Government Role in Business</strong></span></div> <div> A well-known axiom states that the business of government is not to do business. The government has to define in a very clear and precise terms the roles and responsibilities and limit of the state and roles of the private sector. </div> <div> </div> <div> Educationist Narottam Aryal of King’s College notes in this context, “I think that there is still a huge confusion on this front in Nepal. I think that the Government should limit itself to building infrastructure, creating maintaining legal institutions, maintain law and order and peace, and education and health. For the rest of the things the Government must create an enabling environment for the private sector. The new government must bring the programs to promote youth entrepreneurship with a special focus on agriculture and tourism.”</div> <div> </div> <div> <span style="font-size:14px;"><strong>Agriculture: the Mainstay of the Economy</strong></span></div> <div> Nepal is among the poorest and least developed countries in the world, with about one-quarter of its population living below the poverty line. Agriculture is the mainstay of the economy, providing a livelihood for three-fourths of the population and accounting for a little over one-third of GDP. Industrial activity mainly involves the processing of agricultural products, including pulses, jute, sugarcane, tobacco, and grain. Amit Giri calls for policies that allow agrarian credit, market forces to help develop agri-business and conducive environment ensured by the government for the same.</div> <div> </div> <div> <span style="font-size:14px;"><strong>Infra-structure Leap: Backbone for Industrialization to follow</strong></span></div> <div> </div> <table align="left" style="margin: 0px 10px 0px 0px;" width="25"> <tbody> <tr> <td> <img alt="Bijay Rajbhandary, Managing Director CE Construction Pvt Ltd" src="/userfiles/images/cs4%20(Copy)(1).jpg" style="border-width: 0px; border-style: solid; width: 200px; height: 223px;" /></td> </tr> <tr> <td bgcolor="#DDDDDD"> <div align="center"> <div style="text-align: center;"> <div> <strong>Bijay Rajbhandary</strong></div> <div> <em>Managing Director</em></div> <div> <em>CE Construction Pvt Ltd</em></div> </div> </div> </td> </tr> </tbody> </table> <div> “Infrastructure development is a basic tool to upgrade the country’s economic activities, hence there has to be special policies to accelerate the development activities. Real Estate sector, despite its significant contribution in country’s economy is highly fragmented and disorganized. Hence, in order to strengthen this sector, it should be treated as an industry and proper norms and policies should be formulated protecting the interest of this industry, Policies need to be introduced for allowing the foreigners to buy apartments in Nepal with $ 100,000 ceiling but through foreign currency to help boost foreign currency reserves in Nepal,” notes Bijay Rajbhandary, the Managing Director of CE Constructions, a leading realtor of Nepal. </div> <div> </div> <div> It is worthwhile to note that though more than 10,000 kms of roads have been blacktopped, at least another 10,000 kms need to be done so out of the 40,000 kms of graveled roads to help push business through ground transport.</div> <div> </div> <div> <span style="font-size:14px;"><strong>Power Surplus Nepal</strong></span></div> <div> Former Finance Secretary, Rameshore Khanal, is bang on, when he says, “New government should focus on power generation to boost the production since the overall productivity of the country has been affected due to the condition of power deficit. Also, new government should immediately forward some laws related to economy including banking, electricity, industries among others and it should bring special measures to attract more foreign direct investment.”</div> <div> </div> <div> Bijay Rajbhandary echoes the same spirit when he says, “Needless to mention, our country is reeling under the acute energy crisis, and in the light of the fact that Nepal has the capacity to generate hydropower sufficient to export, apart from internal consumption, there has to be some special arrangement from the government side to ensure that such projects are protected from any kind of hindrances, be that political or social.”</div> <div> </div> <div> A nation with more than 80,000 MW of hydel power producing capacity, and with immense solar and biomass power resources, has less than 1000 MW of installed capacity. Nothing can be a larger wastage of resources than this, indeed.</div> <div> </div> <div> “Power Surplus Nepal movement, engulfing enabling policy-making by the government, active domestic and foreign direct investment in this sector, a pro-active media influencing public opinion towards it and a dynamic bureaucracy, has to be the primary national mission today,” notes journalist Janardan Baral.</div> <div> </div> <div> <span style="font-size:14px;"><strong>Investments: Domestic and Foreign</strong></span></div> <div> “There are lots of investments currently held up with the hope of much anticipated stability. The election result clearly embraces free market economy and has rejected federalism based on ethnic provinces (showing inclination towards economic development). Militant workers’ union affiliation is assumed weakened that gives hope for local industries that have suffered over a decade. I have reasons to hope these foundations will be addressed in the Constitution. I hope the government will vigorously implement promises, focus on stability, invest in infrastructure and recoup the lost decade of dark era. All this will boost investor confidence that will take the country to a much awaited, rather needed, growth trajectory,” notes Managing Partner of Mathema + Partners, an architectural firm Ajaya Mathema.</div> <div> </div> <div> Taking the discourse to the policy level, Bijay Rajbhandary says, “ We need clear-cut policy for Foreign Direct Investment in Nepal that would allow a good influx of foreign capital along with their expertise that would create a good development as well as job opportunities within Nepal. Likewise, we also need a policy allowing Nepali investment in foreign land in order to explore and exploit the growth opportunities present in those countries.”</div> <div> </div> <div> <span style="font-size:14px;"><strong>Educated, Trained Nepal</strong></span></div> <div> “A major focus in the new Nepal should be on providing free and quality primary and secondary public education to all as the research shows that access to secondary education (grades 9-12) remains a major challenge, as evidenced by the disturbingly low net enrollment rate of 24 percent at this level. More than half of primary students do not enter secondary schools, and only one-half of them complete secondary schooling. In addition, fewer girls than boys join secondary schools and, among those who do join, fewer complete the 10th grade. Girls should be encouraged more to study as I believe that when a girl gets educated a family gets educated and when a family gets educated the society gets educated. Hence, the country gets educated. Alongside, to make higher education accessible at every Nepali, liberalization of the education sector leading to more and private Universities and even Distance and Open Learning Universities need to be allowed by the government changing the current policy regime in this context,” notes Amit Giri.</div> <div> </div> <div> Focusing on systemic changes within the sphere of public education in Nepal, Bijay Rajbhandary notes, “Education sector must be secluded from any kind of political interference at all levels. Besides, teaching methodologies also need to be amended giving more emphasize on general and practical knowledge and skill development rather than making it exam focused”.</div> <div> </div> <div> <span style="font-size:14px;"><strong>Media & Entertainment Sector</strong></span></div> <div> Narayan Puri, noted film-maker and the CEO of Himalaya TV, speaking on expectations of the entertainment sector, says, “We’ve been waiting for development in our industry as well. There must be given soft loan for this industry in low interest, which can happen if this sector is recognized formally as an industry by the government. We need electricity facilities as other normal industries. Further, the owners of entertainment enterprises are often been made hostage by the workers on minor issues and no security is provided for the investors. There has to be strict policy in this regard. This is largely a non-profit business as well as social awareness and information providing business. And, hence, the government should provide subsidy for this business. Different new technical equipments are required in this business so government must tax rebates in this sector. Any kind of media which gives awareness and information to the public about education, public health, etc must be encouraged by the government.”</div> <div> </div> <div> <span style="font-size:14px;"><strong>Tourism Promises</strong></span></div> <div> “With Nepal having abundant scenic beauty is already attracting many tourists from across the world but there could be an added milestone in this line with some development in tourism sector by adding Health tourism and Religious Tourism in the existing portfolio,’ Bijay Rajbhandary notes.</div> <div> </div> <div> With airborne tourists still less than a million in Nepal, and per capita spending of tourists coming below USD 40 a day, there is a long way to go indeed. Power supply, better infra-structure, better hygiene, new destinations, integrated promotion of Nepal tourism in select markets with focus on digital communication, along with enabling policy encouraging FDI in tourism as well from the government end will help make Nepal move higher from the current 112th position in world tourism revenues of nations.</div> <div> </div> <div> Rightly does Ashok Pokharel, the President of Nepal Association of Tour Operators, say, “Peace, security and physical infra-structure are the hall-marks of rapid tourism growth.” Buddhist centre of Lumbini and leading Himalayan destination Pokhara surely need international air connectivity, while Kathmandu needs faster upgradation of road infrastructure. </div> <div> </div> <div> <span style="font-size:14px;"><strong>The Last Word</strong></span></div> <table align="right" style="margin: 0px 0px 0px 10px;" width="25"> <tbody> <tr> <td> <img alt="Roshee Lamichhane, Manager, CG" src="/userfiles/images/cs5%20(Copy)(1).jpg" style="border-width: 0px; border-style: solid; width: 200px; height: 224px;" /></td> </tr> <tr> <td bgcolor="#DDDDDD"> <div align="center"> <div style="text-align: center;"> <div> <strong>Roshee Lamichhane</strong></div> <div> Manager, CG</div> </div> </div> </td> </tr> </tbody> </table> <div> “I favour national consensus government should be formed for stability in the political arena”, says Rameshore Khanal. And the national consensus government can be created only by bringing the top two largely centrist parties closer, rather together, in their mission, Nepali Congress and CPN UML, he adds.</div> <div> </div> <div> CG Manager Roshee Lamichhane, a representative young voice, notes, “New government should therefore ensure that the benefits of economic growth and development are not going to be cornered away by few influential people and businessmen or politicians but are going to be conferred among the masses and the new political regime operates the economy to make it become and remain vibrant with employment opportunities and marketable surplus. I can only envision an ever growing economy wherein the government can satisfy the Nepal’s appetite for good food, well served, at a price that even common man can afford.”</div> <div> </div> <div> Taking the discussion to another level, Ajaya Ghimire, Chairman, Ace Institute of Management, says, “I do hope however that a constitution will be written within two years. It will embrace periodic elections allowing people to choose who will govern the state. It will also embrace freedom of expressions and freedom of economic activity and constitutional right of the individual against state oppressions. But for people to truly experience those rights and freedom, we will have to wait for our society to evolve from its present feudal mindset.” Prophetic, quintessential aspiration of the moment.</div>', 'published' => true, 'created' => '2013-12-20', 'modified' => '2014-01-19', 'keywords' => 'new business age cover story news & articles, cover story news & articles from new business age nepal, cover story headlines from nepal, current and latest cover story news from nepal, economic news from nepal, nepali cover story economic news and events, ongoing cover story news of nepal', 'description' => 'The nation after its recently concluded historic polls for the next Constituent Assembly and Parliament registering 71% turnout, now expects liberal economy, business freedom, large-scale FDI and power generation, and employment promoting measures from the new Constitution and the government that comes ahead, as found by Prof Ujjwal K Chowdhury, after talking to several people from various walks of life.', 'sortorder' => '2287', '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' => '2356', 'article_category_id' => '145', 'title' => 'Nepal-India Relations Funding Hopes', 'sub_title' => '', 'summary' => null, 'content' => '<div> </div> <div> <strong>--By Madan Lamsal</strong></div> <div> </div> <div> In Nepal-India relations, clichés like ‘Multidimensional and multifarious’, ‘age old’, ‘special’, ‘historical’, ‘unique’ as well as ‘complex’ may all be true, but in reality it could be all of them combined and yet far short to encompass the entirety of this relationship. No adjective perhaps can truly reflect and represent the kind of relations that these two sovereign countries enjoy, cherish, and also despise to some extent. We have mutual trust and distrust, expectations and apprehensions, and interests and concerns, all in the same basket. Therefore, it is but natural to have hiccups, highs and lows of warmth that needed calibration, more often than not.</div> <div> </div> <div> With changing time and technology, however, more focus of these relations is being gradually condensed into two prime areas -- economic issues and security concerns. Nepal has economic concerns and security interests, and India has economic interests and security concerns, of course, with some degree of variance in interpretations. At least, it appeared so during the interactions of high officials and think tanks in India with over a dozen visiting Nepali editors of mainstream print media from Kathmandu.</div> <div> </div> <div> <span style="font-size:14px;"><strong>Trade and investment</strong></span></div> <div> Nepal is net importer, which constituted 1.03 percent of India’s US$300 billion global export in the last FY (2012/13). More than 60 per cent of Nepal’s international trade– both exports and imports – takes place with India. The concern is: Nepal’s trade deficit with India reached close to US$ 3.49 billion (2012/13) in the last fiscal year. And worse, the trade gap has been widening over the years as Nepal’s export items are fast losing both comparative and competitive advantages in the Indian market. In addition to being Nepal’s largest trade partner, India is also among the countries that have the largest foreign direct investment (FDI) and tourists coming to Nepal.</div> <div> </div> <div> But, interestingly, India didn’t seem to recognize the importance of such a big instant export market next door. Some of its policy makers like to view remittances to Nepal by the Nepalis working in India as the compensation to such whopping gap in trade balance. As Salman Khurshid, External Affairs Minister of India had said during the interaction with the editors, ‘Remittance that Nepal is receiving from India is helping balance the trade deficit between India </div> <div> and Nepal.’</div> <div> </div> <div> But remittance, by its very nature, is a different issue altogether. Several thousand Nepalis work in Indian security forces and far larger number of Nepalis work for low-paying informal sundry jobs in private homes, offices and roadside tea shops. The low paid people are in fact helping to retain the low output cost in Indian economy, thereby helping to contain inflation and maintain the country’s competitive edge. If the compensation argument is extended to the non-merchandise goods, the outflow of money from Nepal to India for education and health services could easily be comparable to the amounts of remittance inflows. It appeared during the discussions with the visiting journalists that these differences in perceptions, both on trade and remittance warrant an immediate streamlining to make them relate to reality.</div> <div> </div> <div> On investment, Indian investment to Nepal, particularly in recent years, has not been to the level of its potentials. The ‘level’ may be a relative term but not a subjective assumption here. In view of the recent and rather exponential increase of Indian FDI to other foreign countries, Nepal’s highly untapped areas for investment like clean energy and its proximity to Indian markets could have attracted much more FDI projects than it is the case now.</div> <div> </div> <div> But, as rightly pointed out by the Indian business community, problems lie on this side of the border as well. We have our own demand-side constraints -- prolonged political instability, pseudo-nationalism, lack of political will to decide. Indecision has become a culture. The worst of all, our political leadership doesn’t realize the fact that the country is lagging behind due to all these malaises. “Indian investment in Bhutan and Sri Lanka is increasing because these countries have political stability. On the other hand, Afghanistan and Nepal lack it,” said Sushanta Sen, Principle Advisor for the Confederation of Indian Industries (CII).</div> <div> </div> <div> “To attract foreign investment, Nepalis first need to invest in their own country. Rigidities in labour laws and outsourcing problems are also some of the issues that are hindering Indian investors to invest in Nepal,” he added. </div> <div> </div> <div> Very slow, punctuated progress through the bureaucratic channels in projects like Upper Karnali to be developed by the Indian energy major GMR, is often repeated example in power corridors of New Delhi as the reasons to Nepal’s inability to attract Indian investment. Though a little different story, the problems faced by United Telecom Limited (UTL) has also irked the potential Indian investors. Also, even the Indian business community feels that Nepal has not been able to convey the message that the majority of Indian companies now operating in Nepal are doing very well.</div> <div> </div> <div> In every respect, each South Asian nation has some expectations from India. One of such expectations from India’s neighbours is the revival of the Gujaral Doctrine, initiated by the Late Indian Prime Minister Inder Kumar Gujaral in the mid 1990s. The doctrine proposed that India wouldn’t seek reciprocity with neighbours like Nepal but would help them through all means it could in good faith and trust. </div> <div> </div> <div> <div> But for India, the country projected to be the third largest economy of the world over the next 15 years or so, it is certainly not easy to meet all the expectations of its neighbours. Naturally, India has its commitments beyond the region. “India has to fulfill its commitments already made for Africa, Sri Lanka, Bangladesh and Maldives,” said Khurshid. These commitments range from cultural and educational scholarships to financial and technical support for development. “There is equally huge commitment elsewhere as well for FDI,” Sen of CII echoed Minister Khurshid, in a different meeting. “Once the new government is formed [in Nepal], more investment is likely to flow from India to Nepal,” hoped Sen. </div> <div> </div> <div> Isn’t BIPPA with Nepal a milestone? In theory, Indian business community agrees that it is a great achievement, but in practice, everybody is keen to first test the ground realities. </div> <div> </div> <div> <span style="font-size:14px;"><strong>The China Factor </strong></span></div> <div> In viewing China, the Indian perspective is apparently dichotomous between the so called new and old schools of thought. The new school of thought believes that there is no alternative to having the best possible relations with China. Today, China is one of India’s largest trade partners. In the last fiscal year, 11 percent of India’s imports and six percent exports were with China. The Indian concern at present is the growing trade deficit with China which stood at nearly $ 47 billion in 2012/13. As both countries are members of the BRIC group of emerging economies, their trade volume is bound to grow. Indian Prime Minister Manmohan Singh’s visit to China last October has proposed a new trade corridor of Bangladesh-China-India-Myanmar (BCIM). “The corridor will surely release enormous growth energy and provide new vitality for the Asian economic integration and global growth,” Chinese Foreign Minister Wang Yi was quoted on this issue some time ago. Nepal here missed the boat to be in this group, for whatever reason. The new reality is: India and China are becoming closer than ever before, where Nepal has very little influence on the process.</div> <div> </div> <div> But the old school in India is still apprehensive about the “increasing activities of China in Nepal”. They have problems with Nepal willing to maintain the policy of equi-distance with India and China. TP Sreenivasan, Director General of Kerala International Centre (a think tank) clearly said that Nepal cannot have the same relation with China as with India. “How can somebody marry with one and try to maintain similar kind of relation with another?” he questions. But in diplomacy, relations between two countries are not like a marriage. </div> <div> </div> <div> For reasons of geographical, cultural and historical proximities, Nepal may appear more tilted to India, but at the policy level it is rather naive to expect sort of surrendered tilt at the cost of what is called balanced diplomacy.</div> <div> </div> <div> India’s major concern is, understandably, security and it doesn’t want any threat to security to come from across the border. Ashok K Behuria, Coordinator of the Delhi-based Institute for Defense Studies and Analyses, claimed that there is an anti-social element in Nepal especially in the Madhesh region which has been fuelling anti-India feelings in the Himalayan nation. Indian authorities and policy analysts are also concerned over the growing number of Madarsa schools along the bordering areas such as Nepalgunj. They think that such Madarsas might be used by extremist religious elements for activities that are hostile to India and things can go wrong. Madarsas could also create problems for Nepal in the future, they add. </div> <div> </div> <div> <span style="font-size:14px;"><strong>Nepal’s Political Roadmap</strong></span></div> <div> Like in Nepal, in India too, there is general happiness over the successful completion of the second CA election in November and hope that Nepal’s new constitution will now be written. The Indian politicians as well as top bureaucrats have hailed the high voters’ turnout in the election. They were not mincing words to praise the Nepali people, the Election Commission, security agencies and all other stakeholders for holding the election successfully. Foreign Minister Khurshid and Indian Foreign Secretary Sujatha Singh remarked that the election was ‘historic’ and expressed hope that Nepal would now get the new constitution on time. They also urged all political parties in Nepal, including the UCPN (Maoist) to respect the people’s verdict and work together to draft the new Constitution. However, they also cautioned that the issue of making the new constitution should not overshadow the issue of peace and development which is no less important.</div> <div> </div> <div> On the issue of federalism, the Indian establishment has clearly said that Nepal can have its own model of federal structure as decided by the people of Nepal. This sentiment was echoed at the luncheon meeting with the Indian media where former ambassadors to Nepal Jayanta Prasad, Shiv Shankar Mukherjee, and Deb Mukherjee, among others, were present. Their collective view was that India doesn’t want to impose any federal model on Nepal. In fact, the advice was not to follow the flawed Indian model of carving out newer States incessantly. They also remarked that Nepal is moving forward in the right political direction. </div> <div> </div> </div> <div> <em>(Lamsal is the Chairman and Editor-in-Chief of New Business Age Pvt Ltd.)</em></div>', 'published' => true, 'created' => '2013-12-30', 'modified' => '2014-01-19', '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' => 'In Nepal-India relations, clichés like ‘Multidimensional and multifarious’, ‘age old’, ‘special’, ‘historical’, ‘unique’ as well as ‘complex’ may all be true, but in reality it could be all of them combined and yet far short to encompass the entirety of this relationship. No adjective perhaps can truly reflect and represent the kind of relations that these two sovereign countries enjoy, cherish, and also despise to some extent. We have mutual trust and distrust, expectations and apprehensions, and interests and concerns, all in the same basket. Therefore, it is but natural to have hiccups, highs and lows of warmth that needed calibration, more often than not.', 'sortorder' => '2286', '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' => '2316', 'article_category_id' => '91', 'title' => 'Muktishree’s Investment Plan', 'sub_title' => '', 'summary' => null, 'content' => '<div> <img alt="Muktishree" src="/userfiles/images/MN1.jpg" style="float: right; margin: 0px 0px 0px 10px; width: 200px; height: 139px;" />Muktishree Pvt Ltd has come up with an assertive plan of injecting a total of Rs 23.5 billion in various ambitious projects. The company has also targeted to create a total of 10,000 jobs through the investment. Currently, it has provided employment opportunity to around 1,500 people. </div> <div> </div> <div> Chairman of Muktishree Pvt Ltd Ajeya raj Sumargi on Sunday unveiled the business diversification plan of the company. According to him, hydropower, hotel and cement industry are new areas of investment of the company. It has already involved in telecom and drinking water business. </div> <div> </div> <div> The company has already invested in various projects including Hetauda Mines Industry, Everest Minerals Products, Durga Cold Storage, Himalayan Spring Water, Inco Panel Industries, Hetauda Education Foundation, National College of Higher Education and Yeti Development Bank. </div>', 'published' => true, 'created' => '2013-12-23', 'modified' => '2014-01-10', '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' => 'Muktishree Pvt Ltd has come up with an assertive plan of injecting a total of Rs 23.5 billion in various ambitious projects. The company has also targeted to create a total of 10,000 jobs through the investment. Currently, it has provided employment opportunity to around 1,500 people.', 'sortorder' => '2285', '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
Warning (2): simplexml_load_file() [<a href='http://php.net/function.simplexml-load-file'>function.simplexml-load-file</a>]: I/O warning : failed to load external entity "" [APP/View/Elements/side_bar.ctp, line 60]file not found!Code Context// $file = 'http://aabhiyan:QUVLg8Wzs2F7G9N7@nepalstock.com.np/api/indexdata.xml';if(!$xml = simplexml_load_file($file)){$viewFile = '/var/www/html/newbusinessage.com/app/View/Elements/side_bar.ctp' $dataForView = array( 'articles' => array( (int) 0 => array( 'Article' => array( [maximum depth reached] ) ), (int) 1 => array( 'Article' => array( [maximum depth reached] ) ), (int) 2 => array( 'Article' => array( [maximum depth reached] ) ), (int) 3 => array( 'Article' => array( [maximum depth reached] ) ), (int) 4 => array( 'Article' => array( [maximum depth reached] ) ), (int) 5 => array( 'Article' => array( [maximum depth reached] ) ), (int) 6 => array( 'Article' => array( [maximum depth reached] ) ), (int) 7 => array( 'Article' => array( [maximum depth reached] ) ), (int) 8 => array( 'Article' => array( [maximum depth reached] ) ), (int) 9 => array( 'Article' => array( [maximum depth reached] ) ), (int) 10 => array( 'Article' => array( [maximum depth reached] ) ), (int) 11 => array( 'Article' => array( [maximum depth reached] ) ), (int) 12 => array( 'Article' => array( [maximum depth reached] ) ), (int) 13 => array( 'Article' => array( [maximum depth reached] ) ), (int) 14 => array( 'Article' => array( [maximum depth reached] ) ) ), 'current_user' => null, 'logged_in' => false ) $articles = array( (int) 0 => array( 'Article' => array( 'id' => '2458', 'article_category_id' => '140', 'title' => 'NC To Elect Its Parliamentary Leader', 'sub_title' => '', 'summary' => null, 'content' => '<div> Nepali Congress (NC) has decided to conduct election of its parliamentary leader. NC’s central committee meeting on January 18 took the decision to form a three-member election organizing committee led by party spokesperson Dilendra Prasad Badu. </div> <div> </div> <div> The other two members of the committee are central Ramesh Rijal and Ramchandra Tiwari.</div> <div> </div> <div> NC President Sushil Koirala, Senior Leader Sher Bahadur Deuba and Vice President Ramchandra Poudel are contesting for the post of the party’s parliamentary party (PP) leader. The PP leader will be named as the NC’s candidate for the post of prime minister.</div> <div> </div> <div> Among the top three leaders, NC President Koirala has relatively strong grip inside the party. Despite this, the election is going to be held in order to demonstrate a democratic practice inside the party, it is learnt.</div>', 'published' => true, 'created' => '2014-01-20', 'modified' => '2014-01-20', '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' => 'Nepali Congress (NC) has decided to conduct election of its parliamentary leader. NC’s central committee meeting on January 18 took the decision to form a three-member election organizing committee led by party spokesperson Dilendra Prasad Badu.', 'sortorder' => '2299', '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' => '2456', 'article_category_id' => '139', 'title' => 'Nepal And The World News In Brief (20 - 26 January 2014)', 'sub_title' => '', 'summary' => null, 'content' => '<div> <span style="font-size:14px;"><strong>Deutsche Bank Quits Gold Price Setting</strong></span></div> <div> Deutsche Bank AG is pulling out of the process for setting gold and silver benchmarks, a move that comes as regulators investigate possible manipulation of precious-metals prices. Deutsche, one of five banks involved in the twice-daily gold fix for global price setting, said Friday it was dropping out of the process after withdrawing from the bulk of its commodities business. </div> <div> </div> <div> <span style="font-size:14px;"><strong>Intel to cut over 5,000 jobs</strong></span></div> <div> Chipmaker Intel said Friday it plans to reduce its global workforce by over 5,000 people over the next year. The company says the cuts are in response to “evolving market trends.” Intel said it will trim about 5% of its 107,600 global workforce by the end of 2014 -- 5,380 jobs.</div> <div> </div> <div> <span style="font-size:14px;"><strong>Time Warner Rejects Charter’s $60bn bid as ‘ Grossly Inadequate’</strong></span></div> <div> Time Warner Cable has rejected a $60bn bid from rival, Charter Communications, saying the offer price was “grossly inadequate”. Charter had offered $132.50 a share, with $83 of that in cash and the rest in its own stock, to buy the firm. It said it was going public with its offer because of a lack of interest from Time Warner’s management in its efforts to purchase the firm. But Time Warner said Charter was trying to buy it for a “bargain” price.</div> <div> </div> <div> <span style="font-size:14px;"><strong>HSBC Suspends Currency Traders</strong></span></div> <div> British multinational bank HSBC has suspended two London-based foreign exchange traders as an investigation into the possible rigging of global currency dealing deepens. Others being investigated include Citigroup, JP Morgan, Barclays, UBS and Deutsche Bank.They are working with UK regulators to ascertain whether traders worked together to rig global currency values. The market is worth more than $5 trillion dollars a day.</div> <div> </div> <div> <span style="font-size:14px;"><strong>US Homebuilding Dips, but Year Best Since ‘07</strong></span></div> <div> U.S. home construction slowed in December but ended 2013 with the best showing since the housing bubble burst. The Commerce Department said Friday that builders broke ground last month at a seasonally annual rate of 999,000. That’s 9.8 percent lower than November’s pace of 1.12 million, which was the fastest in five years. </div>', 'published' => true, 'created' => '2014-01-20', 'modified' => '2014-01-20', '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' => 'Deutsche Bank AG is pulling out of the process for setting gold and silver benchmarks, a move that comes as regulators investigate possible manipulation of precious-metals prices. Deutsche, one of five banks involved in the twice-daily gold fix for global price setting, said Friday it was dropping out of the process after withdrawing from the bulk of its commodities business.', 'sortorder' => '2298', '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' => '2455', 'article_category_id' => '138', 'title' => 'Ambassador Bodde Lays Foundation Stone For New Airport Rescue Station', 'sub_title' => '', 'summary' => null, 'content' => '<div> US Ambassador Peter W. Bodde and Secretary of Ministry of Culture, Tourism and Civil Aviation Sushil Ghimire jointly laid the foundation stone for the new seismically safe Crash Rescue and Fire Station Building at Tribhuvan International Airport on January 16, Thursday. The US government is providing assistance totaling USD 462,000 to build a new station and make it resistant to earthquakes. According to a press statement by the US embassy in Kathmandu, the work is part of a larger effort to improve critical infrastructure that will allow the airport to remain open if a major earthquake were to occur. The foundation laying was marked by the 16th annual Earthquake Safety Day. </div> <div> </div> <div> In his remarks Ambassador Bodde said, “Two of my goals as the U.S. Ambassador are to support economic growth and reduce disaster risk in Nepal. Ultimately, we want to plan and prepare in a way that will save lives and destruction of property, lessen the impact of a disaster, and shorten the time of recovery."</div>', 'published' => true, 'created' => '2014-01-20', 'modified' => '2014-01-20', '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' => 'US Ambassador Peter W. Bodde and Secretary of Ministry of Culture, Tourism and Civil Aviation Sushil Ghimire jointly laid the foundation stone for the new seismically safe Crash Rescue and Fire Station Building at Tribhuvan International Airport on January 16, Thursday. The US government is providing assistance totaling USD 462,000 to build a new station and make it resistant to earthquakes. According to a press statement by the US embassy in Kathmandu, the work is part of a larger effort to improve critical infrastructure that will allow the airport to remain open if a major earthquake were to occur. The foundation laying was marked by the 16th annual Earthquake Safety Day.', 'sortorder' => '2297', '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' => '2451', 'article_category_id' => '122', 'title' => 'Kedia Organisation Re-defining Diversity', 'sub_title' => '', 'summary' => null, 'content' => '<div> </div> <div> <strong>--By TC Correspondent</strong></div> <div> </div> <table align="right" style="margin: 0px 0px 0px 10px;" width="25"> <tbody> <tr> <td> <img alt="Manoj Kedia, Executive Director, Kedia Organization" src="/userfiles/images/sp1.jpg" style="border-width: 0px; border-style: solid; width: 200px; height: 221px;" /></td> </tr> <tr> <td bgcolor="#FFFFFF"> <div align="center"> <div style="text-align: center;"> <div> <strong>Manoj Kedia</strong></div> <div> <em>Executive Director</em></div> <div> <em>Kedia Organisation</em></div> </div> </div> </td> </tr> </tbody> </table> <div> Kedia Organisation, a multi-million business conglomerate is not only one of the largest business houses in Nepal but also one of the oldest. The business house has diversified itself into agriculture, dairy, banking, trading among other industries without leaving a bit of the manufacturing sector that the group is focused on.</div> <div> </div> <div> Kedia Group is a well-known name in the cement, carpet and sugar industry. Manoj Kedia, Executive Director of the organisation says that his group has recently started manufacturing PVC carpet and is soon upgrading production capacity of Indusankhar Sugar Mill, one of Nepal’s oldest and leading sugar factories.</div> <div> </div> <div> It is an established name in the service industry. With some significant investment in this sector the business house is major promoter of Siddhartha Insurance, Siddhartha Capital and Siddhartha Bank and apart from that has been running several schools and hospitals in various parts of the country. </div> <div> </div> <div> The group has not limited itself with the sectors it has proven expertise in. It is continuously expanding. As part of its expansion plan, the group has made some investments in the housing and hydropower sector. Stating these investments to be insignificant, Kedia says that they are mainly made with a motive to get acquainted with these sectors.</div> <div> </div> <div> <span style="font-size:14px;"><strong>Hydro Interests</strong></span></div> <div> The power shortage has taken its toll on the industrial sector. And, Kedia Organisation is not an exception. Therefore, the group has lately made investments in hydropower generation. Kedia explains the groups’ logic behind its involvement in energy sector, “Power deficit is a national problem and it is obvious that major business houses want to engage in the power generation business as they are incurring heavy losses due to it.” With the growing demand for energy and high market potentials, energy has become a lucrative industry.</div> <div> </div> <div> Kedia says that the group has not made substantial investment in the energy sector as of now. “We have invested as shareholder in this sector to study the sectoral behaviour,” he says. He further adds that the country needs friendly laws and policies to attract FDI in the energy sector terming it to be a capital-intensive.</div> <div> </div> <div> <span style="font-size:14px;"><strong>Service and Trade Focus</strong></span></div> <div> The service and trading sector has lured a lot of business houses to divert from their traditional specialisation in manufacturing. They feel that it is difficult for manufacturing sector to prosper due to power shortage, open import of cheap goods from India and China. Kedia feels that it is extremely difficult for Nepali companies to compete with imported products in terms of cost. This is one of the reasons for the Kedia Organisation to diversify its portfolio into the service and trading businesses. Kedia adds, “Lack of skilled and productive manpower, unfriendly labour environment and decrease in agricultural production has triggered increase in imports of agro products. These are other factors that are affecting the growth of the manufacturing industries in Nepal and discouraging investors to invest in manufacturing sectors.”</div> <div> </div> <div> <span style="font-size:14px;"><strong>Agro Player</strong></span></div> <div> Kedia Group is one of the key players in the agriculture and food processing industry. The group is involved in agro-based industries with half a dozen companies that process and produce various food products such as rice, flour, lentils and sugar. Mahabir Adhunik Dal Udyog is one of the oldest manufacturing units in the lentil industry with a working history of more than 75 years. This unit recently upgraded its production capacity to 96 metric tonnes per day. </div> <div> </div> <div> Along with producing agro-based products, the group is trying to create backward linkages with the farmers. Kedia says that the group has been regularly coordinating with farmers that it deals with. “We regularly provide them with various skill-based trainings and loans. We have set up a sugar mill in Sarlahi district, country’s major sugarcane-growing centre, 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,” he said.</div> <div> </div> <div> <span style="font-size:14px;"><strong>Five Years Later</strong></span></div> <div> With the changing political environment, business houses have found reasons to be optimistic about the future. Kedia says that his group is not only hopeful about the probable growth of his business but also looks forward for growth in the overall development of the country.</div> <div> </div> <div> The group has plans to diversify its business involvements. Kedia reveals that his group will be engaged 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,” he says.</div> <div> </div> <div> <div> <hr /> <p style="text-align: center;"> <strong style="font-size: 16px;">The Rise of Kedia Organisation</strong></p> </div> <div> Kedia Organisation was established in 1909 as an evolution of the family owned trading business. The Kedia family started its business as a cloth merchant with stores in Birgunj and Kathmandu that selling imports from India. With the initiation and leadership of Brij Lal Kedia, first generation businessperson of the family, the business gradually expanded into food grains trading. It started small but as time progressed, it expanded across Nepal. Manoj Kedia, Executive Director of Kedia Organisation, narrates, “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> 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. Kedia says that during that time, the steel, textile, and corrugated sheet industries from Kedias were pioneers in their respective fields. They then became the backbones of the present day Kedia Organisation. At the same time, the group also entered in general merchandising sector by importing goods from third countries and bulk-traded them in local market. Imported goods included clothes, electronics, food items, medical equipment, household products, hardware, cement, sugar, and edible oil among others. Meanwhile the company also exported rice to Tibet and pulses and lentils to Sri Lanka, Bangladesh and to some European countries. </div> <div> </div> <div> Similarly, the group established Caltex Company, a petrol pump agent in Nepal, and this is still in operation as Kedia Auto in Birgunj. Kedia claims that 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,” he says.</div> <div> </div> <div> Today the group has over 1000 administrative staff, more than 100 technical staff and over 2500 skilled and semi-skilled workers. Today the group has investments in around four dozen companies, doing business in wide range of sectors.</div> <div> </div> </div> <table border="0" cellpadding="10" width="99%"> <tbody> <tr> <td bgcolor="#E5E4E2"> <div> <div> <span style="font-size:14px;"><strong>Banks and Financial Institutions</strong></span></div> <div> •<span class="Apple-tab-span" style="white-space:pre"> </span>Gorkha Finance Ltd</div> <div> •<span class="Apple-tab-span" style="white-space:pre"> </span>Siddhartha Bank Ltd</div> <div> •<span class="Apple-tab-span" style="white-space:pre"> </span>Siddhartha Capital Ltd</div> <div> •<span class="Apple-tab-span" style="white-space:pre"> </span>Siddhartha Insurance Ltd</div> <div> </div> <div> <span style="font-size:14px;"><strong>Fabrication and Iron and Steel</strong></span></div> <div> •<span class="Apple-tab-span" style="white-space:pre"> </span>Narayani Metal Industries</div> <div> •<span class="Apple-tab-span" style="white-space:pre"> </span>Sundar Wire and Nails</div> <div> •<span class="Apple-tab-span" style="white-space:pre"> </span>Sundar Furniture Industries Pvt Ltd</div> <div> •<span class="Apple-tab-span" style="white-space:pre"> </span>Sundar Steel Pvt Ltd</div> <div> </div> <div> <span style="font-size:14px;"><strong>Dairy and Agro Industries</strong></span></div> <div> •<span class="Apple-tab-span" style="white-space:pre"> </span>Amarawati Madyashala Pvt Ltd</div> <div> •<span class="Apple-tab-span" style="white-space:pre"> </span>Sitaram Gokul Milks Kathmandu Ltd</div> <div> •<span class="Apple-tab-span" style="white-space:pre"> </span>Indushankar Chini Udyog Ltd</div> <div> •<span class="Apple-tab-span" style="white-space:pre"> </span>Mahabir Adhunik Dal Udyog</div> <div> •<span class="Apple-tab-span" style="white-space:pre"> </span>Ram Dal Udyog</div> <div> •<span class="Apple-tab-span" style="white-space:pre"> </span>Brijlal Chamal Udyog Harion</div> <div> •<span class="Apple-tab-span" style="white-space:pre"> </span>Birgunj Khadya Udyog Pvt Ltd</div> <div> </div> <div> <span style="font-size:14px;"><strong>Exports</strong></span></div> <div> •<span class="Apple-tab-span" style="white-space:pre"> </span>Medical Herbs</div> <div> •<span class="Apple-tab-span" style="white-space:pre"> </span>Red Split Lentils</div> <div> •<span class="Apple-tab-span" style="white-space:pre"> </span>Flooring Carpets</div> <div> •<span class="Apple-tab-span" style="white-space:pre"> </span>Refined Vegetable Ghee</div> <div> •<span class="Apple-tab-span" style="white-space:pre"> </span>Pashmina (Cashmere) Products</div> <div> </div> <div> <span style="font-size:14px;"><strong>Imports</strong></span></div> <div> •<span class="Apple-tab-span" style="white-space:pre"> </span>Paper Products</div> <div> •<span class="Apple-tab-span" style="white-space:pre"> </span>Textile & Fabrics</div> <div> •<span class="Apple-tab-span" style="white-space:pre"> </span>Industrial Supplies</div> <div> •<span class="Apple-tab-span" style="white-space:pre"> </span>Metals & Minerals</div> <div> •<span class="Apple-tab-span" style="white-space:pre"> </span>Printing & Publishing</div> <div> •<span class="Apple-tab-span" style="white-space:pre"> </span>Construction Supplies</div> <div> •<span class="Apple-tab-span" style="white-space:pre"> </span>General Merchandise</div> <div> •<span class="Apple-tab-span" style="white-space:pre"> </span>Agro & food Products</div> <div> •<span class="Apple-tab-span" style="white-space:pre"> </span>Flooring & Furnishing</div> <div> •<span class="Apple-tab-span" style="white-space:pre"> </span>Fertilizers & Chemicals</div> <div> •<span class="Apple-tab-span" style="white-space:pre"> </span>Medical & Pharmaceuticals</div> <div> •<span class="Apple-tab-span" style="white-space:pre"> </span>Electronic & Electrical Goods</div> <div> •<span class="Apple-tab-span" style="white-space:pre"> </span>Cosmetics & Household Appliances</div> <div> </div> <div> <span style="font-size:14px;"><strong>Foreign Brand Representation</strong></span></div> <div> •<span class="Apple-tab-span" style="white-space:pre"> </span>Haier</div> <div> •<span class="Apple-tab-span" style="white-space:pre"> </span>Hisense</div> <div> •<span class="Apple-tab-span" style="white-space:pre"> </span>Toshiba</div> <div> •<span class="Apple-tab-span" style="white-space:pre"> </span>Evernal</div> <div> •<span class="Apple-tab-span" style="white-space:pre"> </span>Mitsuma</div> <div> •<span class="Apple-tab-span" style="white-space:pre"> </span>Chin Yang Corporation (South Korea)</div> <div> •<span class="Apple-tab-span" style="white-space:pre"> </span>Bharat Petroleum Corporation (India)</div> <div> </div> <div> <span style="font-size:14px;"><strong>Trading Companies</strong></span></div> <div> •<span class="Apple-tab-span" style="white-space:pre"> </span>Trading Firm</div> <div> •<span class="Apple-tab-span" style="white-space:pre"> </span>Sumit Impex</div> <div> •<span class="Apple-tab-span" style="white-space:pre"> </span>Kanak New Traders</div> <div> •<span class="Apple-tab-span" style="white-space:pre"> </span>Nepal Multinational Pvt Ltd</div> <div> •<span class="Apple-tab-span" style="white-space:pre"> </span>Eshita Trading Pvt Ltd</div> <div> •<span class="Apple-tab-span" style="white-space:pre"> </span>Yagya Shree Pvt Ltd</div> <div> •<span class="Apple-tab-span" style="white-space:pre"> </span>Sauryn Exim Pvt ltd</div> <div> •<span class="Apple-tab-span" style="white-space:pre"> </span>Infotech Solution Pvt Ltd</div> <div> •<span class="Apple-tab-span" style="white-space:pre"> </span>Nepal Sagarmatha Traders</div> <div> •<span class="Apple-tab-span" style="white-space:pre"> </span>Diamond Agro International</div> <div> •<span class="Apple-tab-span" style="white-space:pre"> </span>Rohit International Pvt Ltd</div> <div> •<span class="Apple-tab-span" style="white-space:pre"> </span>Sanjay Trade Links Pvt Ltd</div> <div> •<span class="Apple-tab-span" style="white-space:pre"> </span>Kedia International Pvt Ltd</div> <div> </div> <div> <span style="font-size:14px;"><strong>Education</strong></span></div> <div> •<span class="Apple-tab-span" style="white-space:pre"> </span>Sundarmal Ram Kumar Girls Higher Secondary School, Birgunj</div> <div> •<span class="Apple-tab-span" style="white-space:pre"> </span>Maharaja Agrasen Faculty of Management, Birgunj</div> <div> •<span class="Apple-tab-span" style="white-space:pre"> </span>D.A.V. Rukamani Banarasi Kedia School, Birgunj</div> <div> •<span class="Apple-tab-span" style="white-space:pre"> </span>D.A.V. Sushi Kedia Vishwa Bharati, Harion, Sarlahi</div> <div> •<span class="Apple-tab-span" style="white-space:pre"> </span>D.A.V. Kedia Vishwa Bharati, Biratnagar</div> <div> •<span class="Apple-tab-span" style="white-space:pre"> </span>D.A.V. Kedia Vishwa Bharati Nepal, Kathmandu</div> <div> •<span class="Apple-tab-span" style="white-space:pre"> </span>D.A.V. Sushil Kedia Vishwa Bharati, Lalitpur</div> <div> </div> <div> <span style="font-size:14px;"><strong>Healthcare and Welfare</strong></span></div> <div> •<span class="Apple-tab-span" style="white-space:pre"> </span>Ram Kumar Mahabir Prasad Kedia Eye Hospital, Birgunj</div> <div> •<span class="Apple-tab-span" style="white-space:pre"> </span>Mahabir Prasad Brijlal Kedia Dental Institute, Birgunj</div> <div> •<span class="Apple-tab-span" style="white-space:pre"> </span>Sitaram Kedia Sewa Sadan, Harion, Sarlahi</div> <div> •<span class="Apple-tab-span" style="white-space:pre"> </span>Nepal Bodhi Tree International Society, Birgunj</div> <div> •<span class="Apple-tab-span" style="white-space:pre"> </span>Mahabir Prasad Brijlal Kedia Sewa Trust, Birgunj</div> <div> •<span class="Apple-tab-span" style="white-space:pre"> </span>Kedia Children’s Scholarship Fund, Birgunj</div> <div> •<span class="Apple-tab-span" style="white-space:pre"> </span>Sushil Kedia Sewa Foundation, Birgunj</div> <div> </div> <div> <span style="font-size:14px;"><strong>Other Manufacturing units</strong></span></div> <div> •<span class="Apple-tab-span" style="white-space:pre"> </span>Brij Cement Pvt Ltd</div> <div> •<span class="Apple-tab-span" style="white-space:pre"> </span>Sundar Candles</div> <div> •<span class="Apple-tab-span" style="white-space:pre"> </span>Sushil Vanaspati Pvt Ltd</div> <div> •<span class="Apple-tab-span" style="white-space:pre"> </span>Yeti Fabrics Ltd</div> </div> </td> </tr> </tbody> </table> <div> </div>', 'published' => true, 'created' => '2014-01-20', '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' => 'Kedia Organisation, a multi-million business conglomerate is not only one of the largest business houses in Nepal but also one of the oldest. The business house has diversified itself into agriculture, dairy, banking, trading among other industries without leaving a bit of the manufacturing sector that the group is focused on.', 'sortorder' => '2296', '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' => '2452', 'article_category_id' => '134', 'title' => '“In The Long Run, Ethics Pays”', 'sub_title' => '', 'summary' => null, 'content' => '<div> </div> <div> <span style="font-size:14px;"><strong>Prof C Panduranga Bhatta</strong> is a Professor and founder coordinator of Business Ethics and Communication Group and Coordinator of Management Centre for Human Values at the Indian Institute of Management Calcutta (IIMC). He has been continuously involved in academic administration of the IIMC since 1999. In an interview with The Corporate’s <strong>Angila Sharma</strong>, he discussed core principles of business ethics and its relevance in the present context. <strong>Excerpts</strong></span><strong>:</strong></div> <div> </div> <div> <span style="font-size:14px;"><strong>Generally business ethics and CSR are treated as synonymous. How to distinguish them?</strong></span></div> <div> Before the introduction of the term Corporate Social Responsibility (CSR), business ethics’ definition was limited to not doing corruption in business. But now, business ethics is defined and understood in a broader way and includes Corporate Social Responsibility. So, I would like to say that CSR is one of the aspects of business ethics. As such, the business houses that are active in their CSR can be called ethical because they have realized that they have a duty to perform. </div> <div> </div> <div> Earlier, business houses would conduct business in an ethical manner but would not be concerned with the community. But, now, they should also be concerned with the society because they make profit because of the ordinary people around them. So, CSR is a part of business ethics.</div> <div> </div> <div> <span style="font-size:14px;"><strong>The popular view including that of the government is that business ethics and profit making cannot go hand in hand. What is your opinion on this? </strong></span></div> <div> This is the biggest mistake people are making. We can take examples of corporations in the international arena that are making profit ethically. Ethics means taking care of the safety of the products; it means you don’t do wrong to the customers through your products. Business ethics means that corporations allocate certain amount of their profit for the betterment of the people. So, the corporations, which are conducting business in an ethical manner, also earn profit.</div> <div> </div> <div> This issue can be looked upon in two ways. It depends on the business corporation whether it is looking at the short term or long term. Short-term business means operating for a small period of time, earning profit in any manner and then shifting to a new place. We describe these kinds of businesses as ‘fly by night operators’. This type of activity is completely unethical and we do not consider these types of activities as business. We are talking about business corporations that operate for a long period of time. Such business corporations do not limit themselves to stopping corrupt activities, but widen their view to the entire society. Thus, in the long run, such business houses survive, make profit and are considered as ethical business firms. In the long run, ethics pays.</div> <div> </div> <div> <span style="font-size:14px;"><strong>In today’s competitive world, how can business houses gain comparative advantage through practicing business ethics?</strong></span></div> <div> Globalization can give you advantage as well as disadvantage. Firstly, if you are an ethical company, you are welcomed everywhere. This is because of the reputation of the business house which is built on ethics. Business houses have to take care of ethics. For example: Infosys is a company that is present throughout the world. They have a motto that says ‘Powered by Intellect; Driven by values’. They have been practicing it and people have been watching their loyalty towards their motto.If people are convinced, they will accept the company. This way the business houses can gain comparative advantage. Their ethics provide them the comparative advantage.</div> <div> </div> <div> <span style="font-size:14px;"><strong>What innovative methods are being practiced or developed to instil human values in the management of business organizations?</strong></span></div> <div> Human Values is a very comprehensive term. It includes the behaviour of the business houses towards its customers, employees, community and the environment. The business house has to be concerned about the environment and the community while practicing business. </div> <div> </div> <div> Business houses can instil human values in their practice through the development of caring attitude.Any business houses should consider human beings as their first priority.As a businessperson, relationship matters a lot. If business houses fail to maintain good relationship with the employees, customers and the community, it fails. </div> <div> </div> <div> <span style="font-size:14px;"><strong>How do you see the situation of business in South Asia?</strong></span></div> <div> The situation is picking now because of globalization. People are exposed to the activities of business houses.Earlier, the situation was such that business houses would carry out their work in an unethical manner and to cover it up, they would do some charity and give donations. But, now, how any corporation makes business is noticed and reported. </div> <div> </div> <div> Another thing that is improving the situation is the international ranking. Every business house wants to participate in the international ranking. For example: Transparency International ranking.The moment you perform corrupt activities or you compromise with the safety of the employees and customers, you are ranked in the top of the most corrupt company. Earlier, companies were not concerned with the country’s image, but now, companies are tied up with the country. If the country does not have good image, nobody would want to do business in that country. Countries are the conglomerates of certain companies. This has helped in improving the situation of business ethics in South Asia and rest of the world.</div> <div> </div> <div> <span style="font-size:14px;"><strong>Marketing profession is derided as an example of unethical business practice. What is your suggestion to this professional field for overcoming this challenge?</strong></span></div> <div> In marketing, what matters the most is the product. Communication becomes very important while marketing. If you are giving false information to the consumers while selling the product, then, you lose reputation. If you are marketing a product that does no harm to the consumers, then it is not unethical.</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' => 'Prof C Panduranga Bhatta is a Professor and founder coordinator of Business Ethics and Communication Group and Coordinator of Management Centre for Human Values at the Indian Institute of Management Calcutta (IIMC). He has been continuously involved in academic administration of the IIMC since 1999. In an interview with The Corporate’s Angila Sharma, he discussed core principles of business ethics and its relevance in the present context. Excerpts:', 'sortorder' => '2295', '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' => '2448', 'article_category_id' => '144', 'title' => 'Better Late Than Never', 'sub_title' => '', 'summary' => null, 'content' => '<div> The government has prepared to start exploring natural gas (Methane) trapped below the surface of the Kathmandu Valley and excavate it for commercial use. The Department of Mines and Geology (DMG) has said that it will start gas exploration in Imadol of Lalitpur by mid-March. The Department has even sanctioned a budget of Rs 5 million for the project. Though late, this effort by the government is worth praising. It has revived hopes that the exploitation of this wealth below our feet could help address the energy crisis in the Kathmandu valley to some extent. </div> <div> </div> <div> It has been long proved that the Kathmandu Valley denizens are sitting on top of a huge deposit of underground natural gas which is highly combustible and can be utilized as a dependable alternative source of energy. In some areas of Patan, Thapathali and Tripureswor, the gas is being tapped by individual households free of cost.</div> <div> </div> <div> Studies carried out by the DMG with the help of donor agencies such as JICA from the late 1970S to late 1990s indicate the gas reserves can fulfill the domestic energy needs of an estimated 20,000 households in Kathmandu Valley for 30 years. In the past, the DMG had dug 14 gas wells in an area of 26 sq kms including Teku, Tripureswor and Koteswor of Kathmandu, and Imadol and Tikathali of Lalitpur. </div> <div> </div> <div> The DMG even established a model gas plant in Teku in 1983 which stopped operating in the late 1990s. The experiment was to see if gas supply was consistent enough for commercial use. According to sources at DMG, the gas collected in the plant was supplied to various government offices in the immediate vicinity of the model plant. </div> <div> </div> <div> In 2001, the DMG even floated a project titled ‘Kathmandu Gas Project’ in the private sector. But no private company showed any interest in the project. DMG had initiated the project with the help of JICA and UNDP, concluding that a potential gas reserve of about 300 million cu m exists in central and southern Kathmandu as far back as 1978.</div> <div> </div> <div> Reports on past exploration of the Valley’s gas have shown that the gas is biogenic and is mixed with water. This could be the reason why private investors think that the returns from gas excavation might not be very lucrative. That’s why they have not come forward for the excavation process. The DMG hopes that private investors can be roped in once it is established that the gas in the valley is commercially viable. That’s why it has decided to spend Rs 5 million initially in the exploration and excavation of gas at Imadol of Lalitpur. The DMG also hopes that this gas could be sold to housing companies or it can be used to produce thermal electricity of around 2 MW. </div> <div> </div> <div> However, instead of producing thermal energy from this gas, it would be wise to fill it in cylinders and supply it for household use or as fuel to means of transport. The import of petroleum gas from India is one of the major reasons behind our widening trade deficit with the southern neighbour. If the Valley’s gas can be used for cooking, for example, the import of LPG from India can be decreased to some extent. The government should think along this line. If the government’s experiment becomes successful, private investors will certainly come forward for the excavation of the gas.</div>', 'published' => true, 'created' => '2014-01-19', 'modified' => '2014-01-20', '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 government has prepared to start exploring natural gas (Methane) trapped below the surface of the Kathmandu Valley and excavate it for commercial use. The Department of Mines and Geology (DMG) has said that it will start gas exploration in Imadol of Lalitpur by mid-March. The Department has even sanctioned a budget of Rs 5 million for the project. Though late, this effort by the government is worth praising. It has revived hopes that the exploitation of this wealth below our feet could help address the energy crisis in the Kathmandu valley to some extent.', 'sortorder' => '2294', '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' => '2450', 'article_category_id' => '91', 'title' => 'New Foreign Aid Policy Ready Ceiling On Loans, Grants', 'sub_title' => '', 'summary' => null, 'content' => '<div> <strong>--By TC Correspondent </strong></div> <div> </div> <div> In a bid to bring foreign aid under the ambit of national system and priorities, the Ministry of Finance (MoF) has prepared a new foreign aid policy which will be implemented after the formation of a new elected government. “The new foreign aid policy is ready. It has been prepared after homework of nearly a decade following consultations with all stakeholders. Now we are waiting for the new government to implement it,” said Joint Secretary Madhu Kumar Marasini, chief of the International Economic Cooperation Coordination Division under the MoF.</div> <div> </div> <div> The new policy has some new provisions regarding foreign aid. According to the new policy, the government will not accept a foreign loan of less than USD 20 million and a grant of less than USD 5 million. However, the policy accepts technical assistances of smaller size.</div> <div> </div> <div> “The new policy has put ceilings on foreign loans and grants,” Marasini said, “It also has the provision of mentioning all foreign assistance in the Red Book.” According to Marasini, smaller donors will have to make their contribution through a pool fund.</div> <div> </div> <div> He added that the revised policy is aimed at boosting investments in sectors such as energy, infrastructure (highways and airports), agriculture and irrigation. “The new policy has prioritized these sectors which need huge investment,” Marasini made it clear. </div> <div> </div> <div> He added that the new policy will make the foreign assistance regime transparent. “It’s us who should be sitting in the driver’s seat, not the donors. This, in essence, is the fundamental of the new aid policy,” Marasini shared.</div> <div> </div> <div> The policy aims at graduating Nepal out of the group of least developed countries to the block of developing countries by 2022. </div> <div> </div> <div> At present, there are nearly 500 projects being run through foreign assistance. The new aid policy aims at bringing down the number of such projects to 150.</div> <div> </div> <div> There are nearly 40 international donors providing foreign assistance including loans, grants and technical assistance to Nepal at present. </div>', 'published' => true, 'created' => '2014-01-19', 'modified' => '2014-01-20', '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' => 'In a bid to bring foreign aid under the ambit of national system and priorities, the Ministry of Finance (MoF) has prepared a new foreign aid policy which will be implemented after the formation of a new elected government. “The new foreign aid policy is ready. It has been prepared after homework of nearly a decade following consultations with all stakeholders. Now we are waiting for the new government to implement it,” said Joint Secretary Madhu Kumar Marasini, chief of the International Economic Cooperation Coordination Division under the MoF.', 'sortorder' => '2293', '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' => '2446', 'article_category_id' => '122', 'title' => 'Chachan Group: Cementing Its Foundation', 'sub_title' => '', 'summary' => null, 'content' => '<div> </div> <div> <strong>--By Gaurav Aryal and Om Prakash Khanal</strong></div> <div> </div> <table align="right" style="margin: 0px 0px 0px 10px;" width="25"> <tbody> <tr> <td> <img alt="Satish Chachan, Director, Chachan Group" src="/userfiles/images/sptlght1%20(Copy).jpg" style="border-width: 0px; border-style: solid; width: 200px; height: 221px;" /></td> </tr> <tr> <td bgcolor="#FFFFFF"> <div align="center"> <div style="text-align: center;"> <div> <strong>Satish Chachan</strong></div> <div> <em>Director, Chachan Group</em></div> </div> </div> </td> </tr> </tbody> </table> <div> Chachan Group evolved into a manufacturing and trading house when it changed its course into manufacturing from the family owned trading business. This move not only made the group grow leaps and bounds but also established itself as a leading industrial and trading house. The group in its initial days traded various commodities such as leather and leather products, cement, vegetable ghee, food grains, lentils, oil seeds, spices, consumer goods, fertilizer, pulses, edible oils and animal feeds. Today, the group not only trades these commodities but also produces them. The group’s expansion was not merely driven by the market force. There were visions and entrepreneurial skills of earlier generation of businessmen, Mahabir Prasad Chachan and Shree Maliram Chachan, who steered the business towards what it is today. When the group passed onto the new generation of businessmen, Babu Lal Chachan and Parmeshwar Lal Chachan who are Chairman and Vice-Chairman respectively, the group had reached to a position from where it would never have to look back. </div> <div> </div> <div> <span style="font-size:14px;"><strong>Growing Larger</strong></span></div> <div> Satish Chachan, Director of Chachan Group says that the group is continuously following the tradition established by its founders towards further growth of the company. He proudly says, “Compared to the group’s initial days, the company has achieved a remarkable success in cement manufacturing besides continuing its decades old cement selling business.” Within the last decade, the group has established three cement grinding plants each having a production capacity of 350 metric tonnes (MT) of cement per day in Birgunj. Similarly, the group has begun the construction of fourth cement grinding plant in Nepalgunj with the same capacity as that of a single unit in Birgunj.</div> <div> </div> <div> Chachan says that the group had established a poly-plastic bag industry two years back in Birgunj. This factory has enabled the group’s cement plants to use its own cement packing bags. “This poly-plastic bag industry has also earned a big business faith in the major sectors of the country. This clearly indicates the satisfactory present and past situation of the company and its growing capability to contribute a large amount of revenue to the nation.”</div> <div> </div> <div> <span style="font-size:14px;"><strong>Gaining Strength</strong></span></div> <div> The group has shown remarkable progress in goods manufacturing that it has decided to specialise on. At present, it is producing cement, vegetable oil, leather goods, poly-plastic goods and various food products through its food processing units. Likewise, the group is also involved in trading through its three companies who have direct presence in over 19 different cities across the country.</div> <div> </div> <div> Chachan Group is today considered one of the leading business houses of Nepal based in Birgunj for producing variety of commodities with a wide reach across the country. Chachan claims that the products range that the company trades in and its wide network are suggestive of their market and the robust financial strength of the group.</div> <div> </div> <div> He shares that the annual turnover of the group exceeds Rs 4 billion. He also adds that the staggering 70 per cent of the total turnover is generated by the cement wing of the group. While sharing the strength of the group, Chachan boasts that his business has been employing 1500 people directly along with a huge number of indirect employments in transportation and handling of the raw materials and finished products. He also adds that 300 employees are working in the cement wing alone. The group’s beneficiaries such as construction companies, commercial enterprises, transporters, traders, farmers and consumers are spread over major parts of Tarai and hilly regions of the country.</div> <div> </div> <div> <span style="font-size:14px;"><strong>Changing the Course</strong></span></div> <div> For decades, the group had been trading various commodities. Chachan says, “This trade grew bigger and flourished gradually, which ultimately evolved into the establishment and identification of the Chachan Group. This can be regarded as the first and fundamental turning point of the company.” Gradually the trading business expanded; meanwhile, various new manufacturing units were established.</div> <div> </div> <div> Around one and a half decade ago, the group decided to establish cement manufacturing units realising the growing demand of construction materials and cement in particular. This demand was identified when the state owned cement plants such as Hetauda Cement, Udaypur Cement and other private cement producers were unable to meet the major percentage of cement demands. This inspired the group to establish Narayani Cement Udyog Pvt Ltd in Birgunj. This company today has production capacity of 1050 tonnes per day. </div> <div> </div> <div> <span style="font-size:14px;"><strong>Roadmap Ahead</strong></span></div> <div> Chachan believes that the group has kept its promise of offering best quality products and services at a reasonable cost and claims that it would open up new avenues for the group to expand its manufacturing and trading businesses in the days ahead. “Our past experience gives us confidence that we have further opportunities and scope for expansion. We want to establish our own clinker producing units so that we can stand as one of the leading cement and clinker manufacturer of Nepal,” envisions Chachan.</div> <div> </div> <div> He reveals that the group has a clinker producing plant in the pipeline. He elaborated that this new plant will have a production capacity of 700 to 750 tonnes per day. Likewise, once the Nepalgunj based cement plant comes into operation, the group is planning to add another cement grinding plant there with production capacity and design similar to the existing one.</div> <div> </div> <div> Similarly, Chachan reveals that the group is planning to acquire a limestone quarry in a hilly area of Makawanpur district, few kilometres away from Hetauda. “Besides this, we have been thinking to buy some additional land to establish the clinker producing plant.Though we are already in touch with some of the renowned Indian companies for establishing the clinker plant, we think this will materialise only after three to five years from now,” he added. Similarly, Chachan is ready to expand other plants depending on the market demand and financial status.</div> <div> </div> <div> <img alt="Chachhan Group" src="/userfiles/images/sptlight%20(Copy).jpg" style="margin-left: 10px; margin-right: 10px; height: 333px; width: 550px;" /></div> <div> </div> <div> <span style="font-size:16px;"><strong>CSR Commitments</strong></span></div> <div> As part of its Corporate Social Responsibility (CSR), the group has given prime importance to environmental protection and freeing its locality from pollutants. The group is also strengthening and accelerating its sustainable environmental efforts through the reduction of environmental impacts and the conservation of the biodiversity. “We have been aiming to provide satisfaction and gratification to as many stakeholders as possible. To this aspect, we believe and act ethically and relentlessly to seek improvement in the quality, safety, information security and reliability of our products and services,” explains Chachan.</div> <div> </div> <div> Satish Chachan, Director of the group says, “We respect our customer and their culture and the community they belong to while we deal with them in the course of our business activities. We also engage in dialogues with various stakeholders in society and incorporate their feedback to enhance our CSR activities so that we can contribute our best to improve our surroundings, quality and the effectiveness of our activities.” </div> <div> Similarly, the company has dedicated itself in creating a safe and comfortable work environment for all its employees so that they can realise their full potential and have a fulfilling career, as a responsible corporate culture.</div> <div> </div> <table border="0" cellpadding="10" width="99%"> <tbody> <tr> <td bgcolor="#E5E4E2"> <div> <div> <span style="font-size:16px;"><strong>Sister Companies of Chachan Group</strong></span></div> <div> •<span class="Apple-tab-span" style="white-space:pre"> </span>Narayani Cement</div> <div> •<span class="Apple-tab-span" style="white-space:pre"> </span>Jaya Bageshwari Cement</div> <div> •<span class="Apple-tab-span" style="white-space:pre"> </span>Narayani Oil Refinery Udyog</div> <div> •<span class="Apple-tab-span" style="white-space:pre"> </span>Narayani Leather Manufacturing Industries</div> <div> •<span class="Apple-tab-span" style="white-space:pre"> </span>Narayani Modern Pulses Industries</div> <div> •<span class="Apple-tab-span" style="white-space:pre"> </span>Shree Adhunik Dal Udyog</div> <div> •<span class="Apple-tab-span" style="white-space:pre"> </span>Shree Agro Processing Unit</div> <div> •<span class="Apple-tab-span" style="white-space:pre"> </span>Adarsh Oil Industry</div> <div> •<span class="Apple-tab-span" style="white-space:pre"> </span>Adarsh Tel Udyog</div> <div> •<span class="Apple-tab-span" style="white-space:pre"> </span>Adarsh Polyplastic Pvt Ltd</div> <div> </div> <div> <span style="font-size:16px;"><strong>Independent Trading Concerns under the Group</strong></span></div> <div> •<span class="Apple-tab-span" style="white-space:pre"> </span>Chachan Implex</div> <div> •<span class="Apple-tab-span" style="white-space:pre"> </span>Devki International </div> <div> •<span class="Apple-tab-span" style="white-space:pre"> </span>Manoj International Traders</div> <div> </div> <div> <span style="font-size:16px;"><strong>SWOT Analysis</strong></span></div> <div> </div> <div> <span style="font-size:14px;"><strong>Strengths</strong></span></div> <div> •<span class="Apple-tab-span" style="white-space:pre"> </span>Customers </div> <div> •<span class="Apple-tab-span" style="white-space:pre"> </span>Staff </div> <div> •<span class="Apple-tab-span" style="white-space:pre"> </span>Good quality products and services</div> <div> •<span class="Apple-tab-span" style="white-space:pre"> </span>Reasonable price </div> <div> •<span class="Apple-tab-span" style="white-space:pre"> </span>Harmonic relationship with employees, customers and local surroundings</div> <div> •<span class="Apple-tab-span" style="white-space:pre"> </span>Disciplined working attitude</div> <div> •<span class="Apple-tab-span" style="white-space:pre"> </span>Timely revenue payments to the government </div> <div> </div> <div> <span style="font-size:14px;"><strong>Weaknesses</strong></span></div> <div> •<span class="Apple-tab-span" style="white-space:pre"> </span>Inability to give hundred percent employment to the local residents </div> <div> •<span class="Apple-tab-span" style="white-space:pre"> </span>Cannot fulfill the donation demands from local parties and their leaders </div> <div> </div> <div> <span style="font-size:14px;"><strong>Opportunities</strong></span></div> <div> •<span class="Apple-tab-span" style="white-space:pre"> </span>Prospects for growth of construction material businesses</div> <div> •<span class="Apple-tab-span" style="white-space:pre"> </span>Growing domestic market and purchasing capacity of people</div> <div> •<span class="Apple-tab-span" style="white-space:pre"> </span>Rapidly emerging technological innovations</div> <div> </div> <div> <span style="font-size:14px;"><strong>Threats</strong></span></div> <div> •<span class="Apple-tab-span" style="white-space:pre"> </span>Lack of smooth business environment</div> <div> •<span class="Apple-tab-span" style="white-space:pre"> </span>Frequent bandhs and strikes </div> <div> •<span class="Apple-tab-span" style="white-space:pre"> </span>Lack of environment to work peacefully and uninterruptedly where the group is based</div> <div> </div> <div> <span style="font-size:16px;"><strong>Market Positioning</strong></span></div> <div> Products of Chachan Group has a wide market coverage including major cities and towns such as Birgunj, Hetauda, Kalaiya, Narayanghat, Kathmandu, Bhaktapur, Banepa, Batar, Pokhara, Bhairahawa, Krishna Nagar, Dang, Nepalgunj, Dhangadhi, Nijgarh, Gaur, Lahan, Janakpur, Jhapa, Morang, Ilam and other places in hilly and Tarai region. According to the group, major market for cement is in all the belts extending from Birgunj to Jhapa and in Hetauda, Narayanghatand major cities and towns of Bagmati zone.</div> <div> </div> <div> According to Satish Chachan, Director of the group, product placement is done through various dealers and transporters. Group’s contact or branch offices and dealers are channels for distribution. Major product range includes daily commodities, construction materials, leather goods, fertilizers among others. </div> <div> All the factories of the group are being operated in full capacity to meet the market demand. Products are sold under different brand names such as Trishakti and Bajrashakti in the cement segment while other commodities also have their own niche brand value recognised in their market targets.<span class="Apple-tab-span" style="white-space:pre"> </span></div> </div> </td> </tr> </tbody> </table> <p> </p>', 'published' => true, 'created' => '2014-01-19', 'modified' => '2014-01-20', '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' => 'Chachan Group evolved into a manufacturing and trading house when it changed its course into manufacturing from the family owned trading business. This move not only made the group grow leaps and bounds but also established itself as a leading industrial and trading house. The group in its initial days traded various commodities such as leather and leather products, cement, vegetable ghee, food grains, lentils, oil seeds, spices, consumer goods, fertilizer, pulses, edible oils and animal feeds.', 'sortorder' => '2292', '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' => '2419', 'article_category_id' => '109', 'title' => 'Nepse Begins The Week With A Decline', 'sub_title' => '', 'summary' => null, 'content' => '<div> </div> <div> <strong>--By Sanjeev Sharma</strong></div> <div> </div> <div> Nepal Stock Exchange Limited (Nepse) index, the barometer of country’s capital market dropped by almost 5.28 points on Sunday, the first trading day of the week. The bench mark index, which was closing at 763.76 on Thursday-- the last trading day of previous week settled at 758.48 points on Sunday. Following the Nepse, Sensitive index representing class ‘A’ listed companies in the secondary market, loses 1.39 points to settle at 169.56. </div> <div> </div> <div> The fall in Nepse Sunday is attributed by decrease in all sub-indices except Finance sub-index traded in the day. Hotel sub-index was the biggest loser with a fall of 45.23 points (4.01%). Similarly, the sub-indices of ‘Other’, Hydropower and Commercial banks fell by 15.27, 11.34 points and 4.99 points respectively for the day. The Insurance sub-index loses (2.39 points) followed by Development Banks sub-index (0.52 points) and Trading (0.08 points). </div> <div> </div> <div> <span style="font-size:14px;"><strong>Nepse Mostly Down for the Week in Thin Trading</strong></span></div> <div> After sharp gains for 6 consecutive weeks, the Nepse index continued its retreat for second week in a row amid thin weekly trading. Nepse closed down by 16.03 points last week. Profit booking strategy of investors along with warnings about the unnatural surge in the index from regulators and top government officials seem to have reined the stock market. Many investors are selling the stocks they bought few months back to secure profit.</div> <div> </div> <div> For the period of 29th December and 3rd January, the number of transactions came down to 11,093 (which was 15,000 last week). In the mean time, altogether 3.6 million units shares that worth Rs 2.27 billion turnovers being sold in the stock market. Last week, Nepse’s turnover fell by 36.18 per cent compared to the previous week. Similarly, the number of transaction and number of share traded also declined by 26 per cent and 33 per cent respectively. However, analysts say that the stock market will rise next week as selling pressure in the market is low despite the decline in the index. This indicates that the demand for shares in the lower price is exceeding its supply, which is expected to boost the price in the near term. </div> <div> </div> <div> According to the turnover, shares of the Nepal Bangladesh Bank reached the top spot for the week in the market. Nabil Balance Fund-1, meanwhile, climbed to no one spot in terms of the number of units being traded for the week. Likewise, Nepal Telecom maintained its top spot in terms of market capitalization in the domestic market. </div> <div> </div> <div> Nepse index which opened at 787.36 points on the first day of weekly trading (Sunday) fell by around 16 points to close at 763.76 on the last day of the week (Thursday). Most of the sub-indices listed in the Nepse witnessed decline in their values last week. According to weekly transaction, the Hotel sub-index was the biggest gainer with a rise of 17.16 points. All other sub-indices followed downward trend. Last week, Hydropower sub-index was the biggest loser (82.05 points). Similarly, the sub-index of insurance sector fell 38.29 points followed by commercial banks (19.9 points), development banks (7.6 points), finance companies (2.45 points). Likewise, the ‘Other’ sub-index came down by 2.35 points. The Manufacturing sub-index remained unchanged as earlier weeks. The Sensitive Index which represents the share trading of blue chip stocks belonging to class ‘A’ listed companies fell 4.25 points last week. </div> <div> </div> <div> For the week, shares of 125 companies were traded in the stock market. Share prices of 26 companies observed a gain, while price of 73 companies declined last week. Shares prices of 26 companies remained unchanged over the period. </div> <div> </div> <div> <img alt="Nepse Index" src="/userfiles/images/indx%20(Copy)(2).jpg" style="width: 550px; height: 371px; margin-left: 10px; margin-right: 10px;" /></div>', 'published' => true, 'created' => '2014-01-06', 'modified' => '2014-01-19', '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 Stock Exchange Limited (Nepse) index, the barometer of country’s capital market dropped by almost 5.28 points on Sunday, the first trading day of the week. The bench mark index, which was closing at 763.76 on Thursday-- the last trading day of previous week settled at 758.48 points on Sunday. Following the Nepse, Sensitive index representing class ‘A’ listed companies in the secondary market, loses 1.39 points to settle at 169.56.', 'sortorder' => '2291', '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' => '2447', 'article_category_id' => '145', 'title' => 'Hydropower Development For Self-reliant Economy', 'sub_title' => '', 'summary' => null, 'content' => '<div> </div> <div> <strong>--By Dr Subarna Das Shrestha</strong></div> <div> </div> <div> Development of energy is a must if Nepal is to achieve economic prosperity. Energy development in Nepal’s context means none other than the development of hydroelectricity. Nepal’s journey of hydropower development is a century old. The country has been able to produce 718 MW of hydroelectricity over this period. Out of this, nearly 34 percent or 240 MW is being produced by the private sector. The Nepal government allowed the private sector to invest in hydropower through the enactment of the Hydroelectricity Act in 1992.</div> <div> </div> <div> Braving different difficulties, both the private and public sectors have been trying to increase investment in the hydroelectricity sector even in today’s transitional period. Projects worth 1,200 MW are under construction; out of this 28 projects of total capacity of 360 MW are being built by the private sector. Power purchase agreement (PPA) for projects worth nearly 500 MW being developed by the private sector has been done. These projects will enter the construction phase over the next two years and will start producing electricity over another five years. </div> <div> </div> <div> However, there are various problems in the hydropower sector. If we don’t tackle these problems in time, the current energy crisis will only deepen. The country is already reeling under long hours of load shedding. Several industries are faced with the risk of closure because of long load-shedding hours. If that happens, the unemployment figure will rise further. To improve the situation, we need to increase investment in hydropower. However, there will be no significant investment from either domestic or international investors in hydropower as long as an environment for investment security is not created.</div> <div> </div> <div> In order to encourage everyone to create a favourable investment environment for the hydropower sector, the Independent Power producers’ Association, Nepal (IPPAN) had organized the Power Summit 2013 on August 26-27. The summit was focused on four themes: internal investment for projects of internal consumption; external investment for projects of internal consumption; projects focused on external markets; and transmission lines, electricity trade mechanism and marketization. The discussion on these themes helped bring to surface the legal, social, financial and political problems marring hydropower development in the country.</div> <div> </div> <div> To increase investment in the hydropower sector, the first requirement is guarantee of good returns while signing the PPA itself. Second, there should be no obstacles after the project enters the construction phase. The process of issuing license must be eased. For this there should be a one-window policy; the Ministry of Energy should handle everything related to hydroelectricity. At present the situation is such that to seek license for one hydropower project, power producers have to visit 10 ministries and as many government departments. This is a big hassle for independent power producers and increases the cost of the project.</div> <div> </div> <div> The Nepali private sector is ever ready to assist the government in addressing these problems to create the environment of investment in the hydropower sector. If that happens, domestic investment will definitely increase while the country can attract foreign investment as well. However, foreign investors want to sign PPA in the currency of investment. The government should open the doors for an arrangement to sign the PPA in US dollar and make the payment accordingly. If this happens, we can produce the amount of energy we need within the country. Power transmission is another important aspect for which the government has already allocated a budget of Rs 13.5 billion. This step taken by the government is praiseworthy.</div> <div> </div> <div> The annual per capita consumption rate of electricity in Nepal at present is only around 100 units. Fifty percent of the population has no access to electricity at all. Let’s increase the per capita consumption of electricity by five times over the next one decade. We had raised this issue in the Power Summit as well. If we can produce more electricity than we need, the surplus electricity can be marketed in other countries of the region. It is for this reason that the concept of ‘SAARC Grid’ has been forwarded. Nepal will get the maximum benefit from such a regional grid. That’s why we should take the leadership for the construction of SAARC Grid.</div> <div> </div> <div> Rather than focusing on the cost of production of one unit of hydroelectricity, we should think about the loss to the total GDP caused by the non-production of one unit of electricity. A decision regarding 20 per cent post-PPA rate has already been taken by the Cabinet. But this decision is pending at Nepal Electricity Authority. The decisions taken by the government should be implemented. This will send out a good message to all domestic and foreign investors. Taking good decisions is important but implementing such decisions in time is even more important.</div> <div> </div> <div> NEA has a monopoly over hydroelectricity in Nepal. It’s high time we created separate companies for building transmission lines and electricity trade. Similarly, we should have wheeling system in place. In this system one has to pay rent for transmitting electricity through another transmission line. If these concepts are implemented, the private sector can share some of the burden of the NEA. The government has already committed to make these changes in the hydropower sector. What remains is their implementation.</div> <div> </div> <div> At last, the country’s economy cannot achieve a momentum without the development of the hydropower sector. The government and the private sector should join hands for the development of the hydropower sector. If we can do that, we will not only be self-reliant in hydropower but also will be able to export electricity to other SAARC nations. </div> <div> <em>(The author is the immediate past president of IPPAN.)</em></div>', 'published' => true, 'created' => '2014-01-19', 'modified' => '2014-01-19', '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' => 'Development of energy is a must if Nepal is to achieve economic prosperity. Energy development in Nepal’s context means none other than the development of hydroelectricity. Nepal’s journey of hydropower development is a century old. The country has been able to produce 718 MW of hydroelectricity over this period. Out of this, nearly 34 percent or 240 MW is being produced by the private sector. The Nepal government allowed the private sector to invest in hydropower through the enactment of the Hydroelectricity Act in 1992.', 'sortorder' => '2290', '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' => '2334', 'article_category_id' => '109', 'title' => 'Nepse Index Gained 92 Points Last Week Daily Average Turnover Rises 33 Percent', 'sub_title' => '', 'summary' => null, 'content' => '<div> </div> <div> <strong>--By Sanjeev Sharma</strong></div> <div> </div> <div> Nepal Stock Exchange (Nepse) index declined on Sunday by 9.51 points, indicating that the benchmark index of country’s capital market is making corrections after continuous rise of four weeks. On the first day of weekly trading, Nepse settled down at 796.14 points, retreating from last Friday’s closing of 805.65 points. On Sunday, a total of 1.99 million shares were traded through 4,220 transactions on Nepse with the total turnover recorded at Rs 771.67 million. The total market capitalization reached Rs 807 billion on the domestic stock market. The Hydropower sub-index was seen as the biggest loser with 40.06 points. Insurance sub-index emerged as the biggest gainer (31.11 points). The Banking sub-index also lost its footing (17.64 points) followed by Finance (8.62 points) and ‘Others’ (2.35 points). Meanwhile, sub-indices of Development Banks and Hotels gained 7.98 points and 13.27 points respectively. </div> <div> </div> <div> Nepse continued its winning streak last week as the benchmark index again witnessed double-digit gain. The index, which stopped at 713.92 points previous week, surged 91.73 points to reach a record high level of 805.65 points on Friday. Meanwhile, the daily average transaction amount at the index also went up by 32.75 per cent. The daily average transaction amount was recorded at Rs 526.70 million last week against Rs 396.70 million of previous week. </div> <div> </div> <div> Over the period of 15th December to 19th December, the number of trading at Nepse index totaled to 9,800 with 507.12 million shares worth Rs 2.10 billion being sold in the stock market. Last week, transaction volume increased by 6.19 per cent, compared to the previous week. The relatively small increment in transaction amount, however, was overshadowed by sharp rise in average transaction in Nepse which opened for four trading days last week. </div> <div> </div> <div> According to the turnover, shares of the Nepal Bangladesh bank topped the index. Meanwhile, Siddhartha Growth Scheme 1 reached the top spot in terms of the number of units being transacted for the week. Nepal Telecom maintained its top spot in terms of market capitalization. </div> <div> </div> <div> Nepse index, on the first day (Sunday) rose by 2.71 points to settle at 733.25 followed by the second day (Monday) gain of 5.18 points to close at 771.2. On Tuesday, the benchmark index did not resume its trading due to the public holiday. The surge in Nepse continued as it rose by 4.62 points on Wednesday to settle at record high level of 806.82. It was the best performance of the benchmark index since November 13, 2008 when Nepse reached 806.9 points. However, on the last day of weekly trading (Thursday), NEPSE shed 1.17 points to close at 805.65. As many analysts including the stock market officials and regulators warned the investors about vulnerabilities posed by the unnatural surge, the index was forced to made marginal correction. According to them, the continuous rise in Nepse after the second CA elections does not match ground realities and basic fundamentals of the market. </div> <div> </div> <div> Share trading of most of the trading sub-groups increased during the week. Hydropower sub-group was the biggest gainer with a rise of 148 points. Previous week’s biggest loser, the insurance sector gained traction this week as the sub-group achieved 107.93 points. Similarly, the sub-groups of commercial banks and hotel gained 92.39 points and 75.86 points respectively. Likewise, the ‘Other’ sub-group gained 56.38 points followed by Development Bank (18.09 points) and Finance Companies (13.47 points). The Sensitive Index which represents the share trading of blue chip stocks belonging to class ‘A’ listed companies went up by 17.14 points. Manufacturing and Trading sub-group remained same as earlier week. </div> <div> </div> <div> Shares of 130 companies were transacted during the week. 97 companies observed a gain, while shares price of 9 companies declined last week. Shares price of 24 companies remained unchanged over the period.</div> <div> </div> <div> <img alt="Index" src="/userfiles/images/INDEX.jpg" style="width: 550px; height: 304px; margin-left: 10px; margin-right: 10px;" /></div>', 'published' => true, 'created' => '2013-12-23', 'modified' => '2014-01-19', '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 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', 'sortorder' => '2289', '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' => '2445', 'article_category_id' => '202', 'title' => 'Zeal To Work', 'sub_title' => '', 'summary' => null, 'content' => '<div> </div> <div> <strong>--By TC Correspondent</strong></div> <div> </div> <div> Barsha Shrestha, Acting CEO of Clean Energy Development Bank defines herself as a very humble and hard working person. Shrestha enjoys her professional and personal life equally and therefore finds no difficulty in managing time for both. She considers her family as her biggest strength and shares that they are very supportive. “My husband and my children are very supportive, they appreciate my work and are very proud of me,” she said.She regards her parents as her inspiration and credits them for her present standing. Next to them, she finds Mother Teresa’s idealsvery muchinspirational.</div> <div> </div> <div> Shrestha wishes to spend maximum time with her family and in-laws. However, she hardly gets time to do due to her hectic professional schedules. She loves engaging herself in household activities like cooking, cleaning house, gardening and watching television. She is very fond of pickles and likes making variety of pickles in her spare time.</div> <div> </div> <div> She loves travelling and has visited various countries including the United States of America, Australia, France and Germany. She is fond of visiting exotic places and recalls her tripsto Myanmar and Cambodia as one of the most memorable trips.</div> <div> </div> <div> As a positive person she perceives life as a beautiful gift. Shrestha believes in respecting others for being happy in life. She says, “My motto in life is to be happy and true happiness can only be attained if we respect others”. She likes to spend most of her free time in socializing with different people. Shrestha feels proud to be part of the Nepali culture and thinks that Nepali culture has always taught her to respect and love others.</div> <div> </div> <div> As a socially active person she is involved with many organizations such as the Confederation of Nepalese Industries- Women Entrepreneurs and Professional Forum (CNI-WEPF). She is among the Board of Directors of Samriddhi Foundation and is also engaged in many other social activities. </div> <div> </div> <div> Shrestha likes reading economic news but has no interest in political issues. She has fascination towards music and watches many music reality shows on television. </div> <div> </div> <div> Shrestha believes poor time management as one of her weaknesses and sometimes finds trouble in prioritizing her work properly. She believes her staff and customers to be her biggest strength and is thankful towards them for trusting her.</div>', 'published' => true, 'created' => '2014-01-19', 'modified' => '2014-01-20', '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' => 'Barsha Shrestha, Acting CEO of Clean Energy Development Bank defines herself as a very humble and hard working person. Shrestha enjoys her professional and personal life equally and therefore finds no difficulty in managing time for both. She considers her family as her biggest strength and shares that they are very supportive. “My husband and my children are very supportive, they appreciate my work and are very proud of me,” she said.She regards her parents as her inspiration and credits them for her present standing. Next to them, she finds Mother Teresa’s idealsvery muchinspirational.', 'sortorder' => '2288', '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' => '2310', 'article_category_id' => '40', 'title' => 'New Nepali ‘Laissez Faire’ How Strong? How Long?', 'sub_title' => '', 'summary' => null, 'content' => '<div> </div> <div> </div> <div> The nation after its recently concluded historic polls for the next Constituent Assembly and Parliament registering 71% turnout, now expects liberal economy, business freedom, large-scale FDI and power generation, and employment promoting measures from the new Constitution and the government that comes ahead, as found by Prof Ujjwal K Chowdhury, after talking to several people from various walks of life.</div> <div> </div> <div> There is hope in the air. Seven out of every ten Nepalis on the voters’ list of Nepal have exercised their franchise. And, six out of every ten Nepalis who have voted have gone for centrist and liberal left political forces (Nepali Congress & CPN UML), while virtually rejecting the far left polls-boycotting so-called 33-party alliance, the radical left Maoists led by Prachanda, and the rightist regional forces of Madheshis and far right RPP forces.</div> <div> </div> <div> The message is clear. Enough of politicking, now make the polity firm and economy firmer. Create a business environment that is conducive to entrepreneurs, to foreign direct investment and to rapid employment generation.</div> <div> </div> <div> New Business Age interacted with several experts and noted people from various walks of life to ascertain the mood of the nation with regards to the economy of tomorrow.</div> <div> </div> <div> There is surely a high hope that the newly elected CA-Parliament will draft the new constitution that would introduce new economic policies that would propel the country toward the positive direction and we could witness the inevitable growth and development of the country coming with a stable economy. </div> <div> </div> <div> Eminent economist Rameshore Khanal, the former Finance Secretary sums up the spirit rightly, “The Constituent Assembly election results show parties contesting on conservative economic ideologies have been rejected by voters. Nepali Congress (NC), which is considered as a party having the most liberal economic policies, dominated the polls especially in urban areas across the nation. People expressed their aspirations and exercised their power during this election so as to set the progressive course for issues that matter them the most.”</div> <div> </div> <div> The defeat of the Maoists and the regional forces is also seen as the defeat of the federalist agenda. Khanal further notes, “In fact, business community was terrorized due to ethnicity-based federal agenda put forth by UCPN Maoist,” he said, adding that the recent poll results might have relieved the entire business community. More than 90 per cent businessmen do not want federalism based on ethnicity because they cannot do good business amid ethnic tensions. The entire business environment would be more volatile if political parties that favour regional and ethnic agenda had won the election”.</div> <div> </div> <div> Rightly does Kamlesh Kumar Agrawal, the General Secretary of Nepal Chamber of Commerce, observe, “Clear mandate for the centrist parties is a good sign indeed, and a major difference from the last CA election result. Now is the time for them to fulfill their promises of economic revolution or rapid development”.</div> <div> </div> <div> Shekhar Golchha, the President of Nepal Automobile Dealers’ Association, is visibly happy with the turnout, the peaceful polls and the results emerging out of the process. He is satisfied that while issues of federalism, sub-national identity etc found limited mention in election manifestos of most parties, the focus has rightly been on economic aspects and stability of the polity. </div> <div> </div> <div> Bhaskar Raj Rajkarnikar, the Senior Vice President of Federation of Nepalese Chambers of Commerce and Industry (FNCCI), is confident that the new Constitution shall finally be put in place in Nepal now. And the government shall now work firmly towards creating investment-friendly environment in the country. However, he also strongly espouses the need to have local governance bodies as well.</div> <div> </div> <div> <img alt="CA Election " src="/userfiles/images/cs1%20(Copy)(2).jpg" style="width: 550px; height: 209px; margin-left: 10px; margin-right: 10px;" /></div> <div> </div> <div> <span style="font-size:14px;"><strong>Common Minimum Economic Agenda</strong></span></div> <div> It would be pertinent to mention here that the five recent former Prime Ministers of Nepal (Madhav Nepal and Jhalanath Khanal of CPN UML, Sher Bahadur Deuba of Nepali Congress, and Pushpa Kamal Dahal and Dr Baburam Bhattarai of UCPN Maoist) came on the same platform of Nepal Leadership Summit created in Birgunj by the Birgunj Chamber of Commerce and Industry and New Business Age group, and at the end of their deliberations on Economic Growth Roadmap of Nepal for the next one decade, they had signed a 12-point Common Minimum Economic Agenda, which included several fundamental issues.</div> <div> </div> <div> The Declaration noted that the ratifying five leaders commit to give priority to the national economic agenda rather than their respective party agenda in national interests, and also to end the current uneasy industrial relations in favour of productivity, and bring in a new labour and industrial policy conducive to overall economic development. The leaders firmly were committed to individual property rights, the important role of the private sector in the economy, and to an environment to attract rapid FDI in Nepali industries.</div> <div> </div> <div> A sampling of the core issues taken up in the talks by these leaders: “Unhindered power supply is the pre-condition for economic development, in which the government should not run businesses, but just be the regulator,” Sher Bahadur Deuba; “Green economy the focus of economic development,” Madhav Nepal; “Agriculture, regional market and infrastructure development for economic prosperity,” Jhala Nath Khanal; “Foreign investment urgently required, and economic revolution with justifiable distribution must,” Dr Baburam Bhattarai; “Time for economic revolution, in which agriculture is the base, and production, construction and development going hand in hand,” Pushpa Kamal Dahal.</div> <div> </div> <div> Today, since three of these former PMs are the top leaders of the top two parties, Nepali Congress and CPN UML, getting support of above 50% of the voters who exercised their franchise, this itself can be the first corner-stone of economic policy-making of Nepal next.</div> <div> </div> <div> <img alt="CA Election Nepal" src="/userfiles/images/cs2%20(Copy)(1).jpg" style="width: 550px; height: 355px; margin-left: 10px; margin-right: 10px;" /></div> <div> </div> <div> <span style="font-size:14px;"><strong>Securing Private Property</strong></span></div> <div> </div> <table align="left" style="margin: 0px 10px 0px 0px;" width="25"> <tbody> <tr> <td> <img alt="Narottam Aryal, Educationist" src="/userfiles/images/cs3%20(Copy)(1).jpg" style="border-width: 0px; border-style: solid; width: 200px; height: 259px;" /></td> </tr> <tr> <td bgcolor="#DDDDDD"> <div align="center"> <div style="text-align: center;"> <div> <strong>Narottam Aryal</strong></div> <div> <em>Educationist</em></div> </div> </div> </td> </tr> </tbody> </table> <div> The first and the biggest concern is of security of private property and business.</div> <div> </div> <div> “The new constitution MUST acknowledge the role of private sector in the national development and ensure the property rights and should guarantee its security,” notes Narottam Aryal, an educationist leading the forum of Nepali colleges affiliated to foreign universities. </div> <div> </div> <div> Similar voice is echoed by the Manager (Business Development), Chaudhary Group, Roshee Lamichhane, “There is an urgent need to espouse and introduce economic reforms in Nepal with their principal focus on Private Property holding, freedom for entrepreneurial innovation, and abolishing cartel systems.”</div> <div> </div> <div> <span style="font-size:14px;"><strong>Employment Generation</strong></span></div> <div> Property rights apart, the next big concern is naturally of employment. </div> <div> </div> <div> According to Central Bureau of Statistics, the unemployment rate stands at an alarming 46 percent. The only ambition that most young people have is to leave Nepal and a couple of thousands of young people get on planes every day and fly to the Middle East, South East Asia, Europe and beyond to find jobs. However, there is a huge potential of jobs within the country itself. “To address this issue to a larger extent I believe private sectors should be promoted to play a vital role in the growth of national economy and in creating new employment opportunities as it is the only sector that remains the single largest employer,” notes Amit Giri, CEO of International Centre of Academics focused on the task of taking higher education through distance and online learning mode to working people of Nepal.</div> <div> </div> <div> <span style="font-size:14px;"><strong>Limiting Government Role in Business</strong></span></div> <div> A well-known axiom states that the business of government is not to do business. The government has to define in a very clear and precise terms the roles and responsibilities and limit of the state and roles of the private sector. </div> <div> </div> <div> Educationist Narottam Aryal of King’s College notes in this context, “I think that there is still a huge confusion on this front in Nepal. I think that the Government should limit itself to building infrastructure, creating maintaining legal institutions, maintain law and order and peace, and education and health. For the rest of the things the Government must create an enabling environment for the private sector. The new government must bring the programs to promote youth entrepreneurship with a special focus on agriculture and tourism.”</div> <div> </div> <div> <span style="font-size:14px;"><strong>Agriculture: the Mainstay of the Economy</strong></span></div> <div> Nepal is among the poorest and least developed countries in the world, with about one-quarter of its population living below the poverty line. Agriculture is the mainstay of the economy, providing a livelihood for three-fourths of the population and accounting for a little over one-third of GDP. Industrial activity mainly involves the processing of agricultural products, including pulses, jute, sugarcane, tobacco, and grain. Amit Giri calls for policies that allow agrarian credit, market forces to help develop agri-business and conducive environment ensured by the government for the same.</div> <div> </div> <div> <span style="font-size:14px;"><strong>Infra-structure Leap: Backbone for Industrialization to follow</strong></span></div> <div> </div> <table align="left" style="margin: 0px 10px 0px 0px;" width="25"> <tbody> <tr> <td> <img alt="Bijay Rajbhandary, Managing Director CE Construction Pvt Ltd" src="/userfiles/images/cs4%20(Copy)(1).jpg" style="border-width: 0px; border-style: solid; width: 200px; height: 223px;" /></td> </tr> <tr> <td bgcolor="#DDDDDD"> <div align="center"> <div style="text-align: center;"> <div> <strong>Bijay Rajbhandary</strong></div> <div> <em>Managing Director</em></div> <div> <em>CE Construction Pvt Ltd</em></div> </div> </div> </td> </tr> </tbody> </table> <div> “Infrastructure development is a basic tool to upgrade the country’s economic activities, hence there has to be special policies to accelerate the development activities. Real Estate sector, despite its significant contribution in country’s economy is highly fragmented and disorganized. Hence, in order to strengthen this sector, it should be treated as an industry and proper norms and policies should be formulated protecting the interest of this industry, Policies need to be introduced for allowing the foreigners to buy apartments in Nepal with $ 100,000 ceiling but through foreign currency to help boost foreign currency reserves in Nepal,” notes Bijay Rajbhandary, the Managing Director of CE Constructions, a leading realtor of Nepal. </div> <div> </div> <div> It is worthwhile to note that though more than 10,000 kms of roads have been blacktopped, at least another 10,000 kms need to be done so out of the 40,000 kms of graveled roads to help push business through ground transport.</div> <div> </div> <div> <span style="font-size:14px;"><strong>Power Surplus Nepal</strong></span></div> <div> Former Finance Secretary, Rameshore Khanal, is bang on, when he says, “New government should focus on power generation to boost the production since the overall productivity of the country has been affected due to the condition of power deficit. Also, new government should immediately forward some laws related to economy including banking, electricity, industries among others and it should bring special measures to attract more foreign direct investment.”</div> <div> </div> <div> Bijay Rajbhandary echoes the same spirit when he says, “Needless to mention, our country is reeling under the acute energy crisis, and in the light of the fact that Nepal has the capacity to generate hydropower sufficient to export, apart from internal consumption, there has to be some special arrangement from the government side to ensure that such projects are protected from any kind of hindrances, be that political or social.”</div> <div> </div> <div> A nation with more than 80,000 MW of hydel power producing capacity, and with immense solar and biomass power resources, has less than 1000 MW of installed capacity. Nothing can be a larger wastage of resources than this, indeed.</div> <div> </div> <div> “Power Surplus Nepal movement, engulfing enabling policy-making by the government, active domestic and foreign direct investment in this sector, a pro-active media influencing public opinion towards it and a dynamic bureaucracy, has to be the primary national mission today,” notes journalist Janardan Baral.</div> <div> </div> <div> <span style="font-size:14px;"><strong>Investments: Domestic and Foreign</strong></span></div> <div> “There are lots of investments currently held up with the hope of much anticipated stability. The election result clearly embraces free market economy and has rejected federalism based on ethnic provinces (showing inclination towards economic development). Militant workers’ union affiliation is assumed weakened that gives hope for local industries that have suffered over a decade. I have reasons to hope these foundations will be addressed in the Constitution. I hope the government will vigorously implement promises, focus on stability, invest in infrastructure and recoup the lost decade of dark era. All this will boost investor confidence that will take the country to a much awaited, rather needed, growth trajectory,” notes Managing Partner of Mathema + Partners, an architectural firm Ajaya Mathema.</div> <div> </div> <div> Taking the discourse to the policy level, Bijay Rajbhandary says, “ We need clear-cut policy for Foreign Direct Investment in Nepal that would allow a good influx of foreign capital along with their expertise that would create a good development as well as job opportunities within Nepal. Likewise, we also need a policy allowing Nepali investment in foreign land in order to explore and exploit the growth opportunities present in those countries.”</div> <div> </div> <div> <span style="font-size:14px;"><strong>Educated, Trained Nepal</strong></span></div> <div> “A major focus in the new Nepal should be on providing free and quality primary and secondary public education to all as the research shows that access to secondary education (grades 9-12) remains a major challenge, as evidenced by the disturbingly low net enrollment rate of 24 percent at this level. More than half of primary students do not enter secondary schools, and only one-half of them complete secondary schooling. In addition, fewer girls than boys join secondary schools and, among those who do join, fewer complete the 10th grade. Girls should be encouraged more to study as I believe that when a girl gets educated a family gets educated and when a family gets educated the society gets educated. Hence, the country gets educated. Alongside, to make higher education accessible at every Nepali, liberalization of the education sector leading to more and private Universities and even Distance and Open Learning Universities need to be allowed by the government changing the current policy regime in this context,” notes Amit Giri.</div> <div> </div> <div> Focusing on systemic changes within the sphere of public education in Nepal, Bijay Rajbhandary notes, “Education sector must be secluded from any kind of political interference at all levels. Besides, teaching methodologies also need to be amended giving more emphasize on general and practical knowledge and skill development rather than making it exam focused”.</div> <div> </div> <div> <span style="font-size:14px;"><strong>Media & Entertainment Sector</strong></span></div> <div> Narayan Puri, noted film-maker and the CEO of Himalaya TV, speaking on expectations of the entertainment sector, says, “We’ve been waiting for development in our industry as well. There must be given soft loan for this industry in low interest, which can happen if this sector is recognized formally as an industry by the government. We need electricity facilities as other normal industries. Further, the owners of entertainment enterprises are often been made hostage by the workers on minor issues and no security is provided for the investors. There has to be strict policy in this regard. This is largely a non-profit business as well as social awareness and information providing business. And, hence, the government should provide subsidy for this business. Different new technical equipments are required in this business so government must tax rebates in this sector. Any kind of media which gives awareness and information to the public about education, public health, etc must be encouraged by the government.”</div> <div> </div> <div> <span style="font-size:14px;"><strong>Tourism Promises</strong></span></div> <div> “With Nepal having abundant scenic beauty is already attracting many tourists from across the world but there could be an added milestone in this line with some development in tourism sector by adding Health tourism and Religious Tourism in the existing portfolio,’ Bijay Rajbhandary notes.</div> <div> </div> <div> With airborne tourists still less than a million in Nepal, and per capita spending of tourists coming below USD 40 a day, there is a long way to go indeed. Power supply, better infra-structure, better hygiene, new destinations, integrated promotion of Nepal tourism in select markets with focus on digital communication, along with enabling policy encouraging FDI in tourism as well from the government end will help make Nepal move higher from the current 112th position in world tourism revenues of nations.</div> <div> </div> <div> Rightly does Ashok Pokharel, the President of Nepal Association of Tour Operators, say, “Peace, security and physical infra-structure are the hall-marks of rapid tourism growth.” Buddhist centre of Lumbini and leading Himalayan destination Pokhara surely need international air connectivity, while Kathmandu needs faster upgradation of road infrastructure. </div> <div> </div> <div> <span style="font-size:14px;"><strong>The Last Word</strong></span></div> <table align="right" style="margin: 0px 0px 0px 10px;" width="25"> <tbody> <tr> <td> <img alt="Roshee Lamichhane, Manager, CG" src="/userfiles/images/cs5%20(Copy)(1).jpg" style="border-width: 0px; border-style: solid; width: 200px; height: 224px;" /></td> </tr> <tr> <td bgcolor="#DDDDDD"> <div align="center"> <div style="text-align: center;"> <div> <strong>Roshee Lamichhane</strong></div> <div> Manager, CG</div> </div> </div> </td> </tr> </tbody> </table> <div> “I favour national consensus government should be formed for stability in the political arena”, says Rameshore Khanal. And the national consensus government can be created only by bringing the top two largely centrist parties closer, rather together, in their mission, Nepali Congress and CPN UML, he adds.</div> <div> </div> <div> CG Manager Roshee Lamichhane, a representative young voice, notes, “New government should therefore ensure that the benefits of economic growth and development are not going to be cornered away by few influential people and businessmen or politicians but are going to be conferred among the masses and the new political regime operates the economy to make it become and remain vibrant with employment opportunities and marketable surplus. I can only envision an ever growing economy wherein the government can satisfy the Nepal’s appetite for good food, well served, at a price that even common man can afford.”</div> <div> </div> <div> Taking the discussion to another level, Ajaya Ghimire, Chairman, Ace Institute of Management, says, “I do hope however that a constitution will be written within two years. It will embrace periodic elections allowing people to choose who will govern the state. It will also embrace freedom of expressions and freedom of economic activity and constitutional right of the individual against state oppressions. But for people to truly experience those rights and freedom, we will have to wait for our society to evolve from its present feudal mindset.” Prophetic, quintessential aspiration of the moment.</div>', 'published' => true, 'created' => '2013-12-20', 'modified' => '2014-01-19', 'keywords' => 'new business age cover story news & articles, cover story news & articles from new business age nepal, cover story headlines from nepal, current and latest cover story news from nepal, economic news from nepal, nepali cover story economic news and events, ongoing cover story news of nepal', 'description' => 'The nation after its recently concluded historic polls for the next Constituent Assembly and Parliament registering 71% turnout, now expects liberal economy, business freedom, large-scale FDI and power generation, and employment promoting measures from the new Constitution and the government that comes ahead, as found by Prof Ujjwal K Chowdhury, after talking to several people from various walks of life.', 'sortorder' => '2287', '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' => '2356', 'article_category_id' => '145', 'title' => 'Nepal-India Relations Funding Hopes', 'sub_title' => '', 'summary' => null, 'content' => '<div> </div> <div> <strong>--By Madan Lamsal</strong></div> <div> </div> <div> In Nepal-India relations, clichés like ‘Multidimensional and multifarious’, ‘age old’, ‘special’, ‘historical’, ‘unique’ as well as ‘complex’ may all be true, but in reality it could be all of them combined and yet far short to encompass the entirety of this relationship. No adjective perhaps can truly reflect and represent the kind of relations that these two sovereign countries enjoy, cherish, and also despise to some extent. We have mutual trust and distrust, expectations and apprehensions, and interests and concerns, all in the same basket. Therefore, it is but natural to have hiccups, highs and lows of warmth that needed calibration, more often than not.</div> <div> </div> <div> With changing time and technology, however, more focus of these relations is being gradually condensed into two prime areas -- economic issues and security concerns. Nepal has economic concerns and security interests, and India has economic interests and security concerns, of course, with some degree of variance in interpretations. At least, it appeared so during the interactions of high officials and think tanks in India with over a dozen visiting Nepali editors of mainstream print media from Kathmandu.</div> <div> </div> <div> <span style="font-size:14px;"><strong>Trade and investment</strong></span></div> <div> Nepal is net importer, which constituted 1.03 percent of India’s US$300 billion global export in the last FY (2012/13). More than 60 per cent of Nepal’s international trade– both exports and imports – takes place with India. The concern is: Nepal’s trade deficit with India reached close to US$ 3.49 billion (2012/13) in the last fiscal year. And worse, the trade gap has been widening over the years as Nepal’s export items are fast losing both comparative and competitive advantages in the Indian market. In addition to being Nepal’s largest trade partner, India is also among the countries that have the largest foreign direct investment (FDI) and tourists coming to Nepal.</div> <div> </div> <div> But, interestingly, India didn’t seem to recognize the importance of such a big instant export market next door. Some of its policy makers like to view remittances to Nepal by the Nepalis working in India as the compensation to such whopping gap in trade balance. As Salman Khurshid, External Affairs Minister of India had said during the interaction with the editors, ‘Remittance that Nepal is receiving from India is helping balance the trade deficit between India </div> <div> and Nepal.’</div> <div> </div> <div> But remittance, by its very nature, is a different issue altogether. Several thousand Nepalis work in Indian security forces and far larger number of Nepalis work for low-paying informal sundry jobs in private homes, offices and roadside tea shops. The low paid people are in fact helping to retain the low output cost in Indian economy, thereby helping to contain inflation and maintain the country’s competitive edge. If the compensation argument is extended to the non-merchandise goods, the outflow of money from Nepal to India for education and health services could easily be comparable to the amounts of remittance inflows. It appeared during the discussions with the visiting journalists that these differences in perceptions, both on trade and remittance warrant an immediate streamlining to make them relate to reality.</div> <div> </div> <div> On investment, Indian investment to Nepal, particularly in recent years, has not been to the level of its potentials. The ‘level’ may be a relative term but not a subjective assumption here. In view of the recent and rather exponential increase of Indian FDI to other foreign countries, Nepal’s highly untapped areas for investment like clean energy and its proximity to Indian markets could have attracted much more FDI projects than it is the case now.</div> <div> </div> <div> But, as rightly pointed out by the Indian business community, problems lie on this side of the border as well. We have our own demand-side constraints -- prolonged political instability, pseudo-nationalism, lack of political will to decide. Indecision has become a culture. The worst of all, our political leadership doesn’t realize the fact that the country is lagging behind due to all these malaises. “Indian investment in Bhutan and Sri Lanka is increasing because these countries have political stability. On the other hand, Afghanistan and Nepal lack it,” said Sushanta Sen, Principle Advisor for the Confederation of Indian Industries (CII).</div> <div> </div> <div> “To attract foreign investment, Nepalis first need to invest in their own country. Rigidities in labour laws and outsourcing problems are also some of the issues that are hindering Indian investors to invest in Nepal,” he added. </div> <div> </div> <div> Very slow, punctuated progress through the bureaucratic channels in projects like Upper Karnali to be developed by the Indian energy major GMR, is often repeated example in power corridors of New Delhi as the reasons to Nepal’s inability to attract Indian investment. Though a little different story, the problems faced by United Telecom Limited (UTL) has also irked the potential Indian investors. Also, even the Indian business community feels that Nepal has not been able to convey the message that the majority of Indian companies now operating in Nepal are doing very well.</div> <div> </div> <div> In every respect, each South Asian nation has some expectations from India. One of such expectations from India’s neighbours is the revival of the Gujaral Doctrine, initiated by the Late Indian Prime Minister Inder Kumar Gujaral in the mid 1990s. The doctrine proposed that India wouldn’t seek reciprocity with neighbours like Nepal but would help them through all means it could in good faith and trust. </div> <div> </div> <div> <div> But for India, the country projected to be the third largest economy of the world over the next 15 years or so, it is certainly not easy to meet all the expectations of its neighbours. Naturally, India has its commitments beyond the region. “India has to fulfill its commitments already made for Africa, Sri Lanka, Bangladesh and Maldives,” said Khurshid. These commitments range from cultural and educational scholarships to financial and technical support for development. “There is equally huge commitment elsewhere as well for FDI,” Sen of CII echoed Minister Khurshid, in a different meeting. “Once the new government is formed [in Nepal], more investment is likely to flow from India to Nepal,” hoped Sen. </div> <div> </div> <div> Isn’t BIPPA with Nepal a milestone? In theory, Indian business community agrees that it is a great achievement, but in practice, everybody is keen to first test the ground realities. </div> <div> </div> <div> <span style="font-size:14px;"><strong>The China Factor </strong></span></div> <div> In viewing China, the Indian perspective is apparently dichotomous between the so called new and old schools of thought. The new school of thought believes that there is no alternative to having the best possible relations with China. Today, China is one of India’s largest trade partners. In the last fiscal year, 11 percent of India’s imports and six percent exports were with China. The Indian concern at present is the growing trade deficit with China which stood at nearly $ 47 billion in 2012/13. As both countries are members of the BRIC group of emerging economies, their trade volume is bound to grow. Indian Prime Minister Manmohan Singh’s visit to China last October has proposed a new trade corridor of Bangladesh-China-India-Myanmar (BCIM). “The corridor will surely release enormous growth energy and provide new vitality for the Asian economic integration and global growth,” Chinese Foreign Minister Wang Yi was quoted on this issue some time ago. Nepal here missed the boat to be in this group, for whatever reason. The new reality is: India and China are becoming closer than ever before, where Nepal has very little influence on the process.</div> <div> </div> <div> But the old school in India is still apprehensive about the “increasing activities of China in Nepal”. They have problems with Nepal willing to maintain the policy of equi-distance with India and China. TP Sreenivasan, Director General of Kerala International Centre (a think tank) clearly said that Nepal cannot have the same relation with China as with India. “How can somebody marry with one and try to maintain similar kind of relation with another?” he questions. But in diplomacy, relations between two countries are not like a marriage. </div> <div> </div> <div> For reasons of geographical, cultural and historical proximities, Nepal may appear more tilted to India, but at the policy level it is rather naive to expect sort of surrendered tilt at the cost of what is called balanced diplomacy.</div> <div> </div> <div> India’s major concern is, understandably, security and it doesn’t want any threat to security to come from across the border. Ashok K Behuria, Coordinator of the Delhi-based Institute for Defense Studies and Analyses, claimed that there is an anti-social element in Nepal especially in the Madhesh region which has been fuelling anti-India feelings in the Himalayan nation. Indian authorities and policy analysts are also concerned over the growing number of Madarsa schools along the bordering areas such as Nepalgunj. They think that such Madarsas might be used by extremist religious elements for activities that are hostile to India and things can go wrong. Madarsas could also create problems for Nepal in the future, they add. </div> <div> </div> <div> <span style="font-size:14px;"><strong>Nepal’s Political Roadmap</strong></span></div> <div> Like in Nepal, in India too, there is general happiness over the successful completion of the second CA election in November and hope that Nepal’s new constitution will now be written. The Indian politicians as well as top bureaucrats have hailed the high voters’ turnout in the election. They were not mincing words to praise the Nepali people, the Election Commission, security agencies and all other stakeholders for holding the election successfully. Foreign Minister Khurshid and Indian Foreign Secretary Sujatha Singh remarked that the election was ‘historic’ and expressed hope that Nepal would now get the new constitution on time. They also urged all political parties in Nepal, including the UCPN (Maoist) to respect the people’s verdict and work together to draft the new Constitution. However, they also cautioned that the issue of making the new constitution should not overshadow the issue of peace and development which is no less important.</div> <div> </div> <div> On the issue of federalism, the Indian establishment has clearly said that Nepal can have its own model of federal structure as decided by the people of Nepal. This sentiment was echoed at the luncheon meeting with the Indian media where former ambassadors to Nepal Jayanta Prasad, Shiv Shankar Mukherjee, and Deb Mukherjee, among others, were present. Their collective view was that India doesn’t want to impose any federal model on Nepal. In fact, the advice was not to follow the flawed Indian model of carving out newer States incessantly. They also remarked that Nepal is moving forward in the right political direction. </div> <div> </div> </div> <div> <em>(Lamsal is the Chairman and Editor-in-Chief of New Business Age Pvt Ltd.)</em></div>', 'published' => true, 'created' => '2013-12-30', 'modified' => '2014-01-19', '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' => 'In Nepal-India relations, clichés like ‘Multidimensional and multifarious’, ‘age old’, ‘special’, ‘historical’, ‘unique’ as well as ‘complex’ may all be true, but in reality it could be all of them combined and yet far short to encompass the entirety of this relationship. No adjective perhaps can truly reflect and represent the kind of relations that these two sovereign countries enjoy, cherish, and also despise to some extent. We have mutual trust and distrust, expectations and apprehensions, and interests and concerns, all in the same basket. Therefore, it is but natural to have hiccups, highs and lows of warmth that needed calibration, more often than not.', 'sortorder' => '2286', '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' => '2316', 'article_category_id' => '91', 'title' => 'Muktishree’s Investment Plan', 'sub_title' => '', 'summary' => null, 'content' => '<div> <img alt="Muktishree" src="/userfiles/images/MN1.jpg" style="float: right; margin: 0px 0px 0px 10px; width: 200px; height: 139px;" />Muktishree Pvt Ltd has come up with an assertive plan of injecting a total of Rs 23.5 billion in various ambitious projects. The company has also targeted to create a total of 10,000 jobs through the investment. Currently, it has provided employment opportunity to around 1,500 people. </div> <div> </div> <div> Chairman of Muktishree Pvt Ltd Ajeya raj Sumargi on Sunday unveiled the business diversification plan of the company. According to him, hydropower, hotel and cement industry are new areas of investment of the company. It has already involved in telecom and drinking water business. </div> <div> </div> <div> The company has already invested in various projects including Hetauda Mines Industry, Everest Minerals Products, Durga Cold Storage, Himalayan Spring Water, Inco Panel Industries, Hetauda Education Foundation, National College of Higher Education and Yeti Development Bank. </div>', 'published' => true, 'created' => '2013-12-23', 'modified' => '2014-01-10', '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' => 'Muktishree Pvt Ltd has come up with an assertive plan of injecting a total of Rs 23.5 billion in various ambitious projects. The company has also targeted to create a total of 10,000 jobs through the investment. Currently, it has provided employment opportunity to around 1,500 people.', 'sortorder' => '2285', '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
Notice (8): Undefined variable: file [APP/View/Elements/side_bar.ctp, line 133]Code Context// $file = 'http://aabhiyan:QUVLg8Wzs2F7G9N7@nepalstock.com.np/api/subindexdata.xml';if(!$xml = simplexml_load_file($file)){$viewFile = '/var/www/html/newbusinessage.com/app/View/Elements/side_bar.ctp' $dataForView = array( 'articles' => array( (int) 0 => array( 'Article' => array( [maximum depth reached] ) ), (int) 1 => array( 'Article' => array( [maximum depth reached] ) ), (int) 2 => array( 'Article' => array( [maximum depth reached] ) ), (int) 3 => array( 'Article' => array( [maximum depth reached] ) ), (int) 4 => array( 'Article' => array( [maximum depth reached] ) ), (int) 5 => array( 'Article' => array( [maximum depth reached] ) ), (int) 6 => array( 'Article' => array( [maximum depth reached] ) ), (int) 7 => array( 'Article' => array( [maximum depth reached] ) ), (int) 8 => array( 'Article' => array( [maximum depth reached] ) ), (int) 9 => array( 'Article' => array( [maximum depth reached] ) ), (int) 10 => array( 'Article' => array( [maximum depth reached] ) ), (int) 11 => array( 'Article' => array( [maximum depth reached] ) ), (int) 12 => array( 'Article' => array( [maximum depth reached] ) ), (int) 13 => array( 'Article' => array( [maximum depth reached] ) ), (int) 14 => array( 'Article' => array( [maximum depth reached] ) ) ), 'current_user' => null, 'logged_in' => false ) $articles = array( (int) 0 => array( 'Article' => array( 'id' => '2458', 'article_category_id' => '140', 'title' => 'NC To Elect Its Parliamentary Leader', 'sub_title' => '', 'summary' => null, 'content' => '<div> Nepali Congress (NC) has decided to conduct election of its parliamentary leader. NC’s central committee meeting on January 18 took the decision to form a three-member election organizing committee led by party spokesperson Dilendra Prasad Badu. </div> <div> </div> <div> The other two members of the committee are central Ramesh Rijal and Ramchandra Tiwari.</div> <div> </div> <div> NC President Sushil Koirala, Senior Leader Sher Bahadur Deuba and Vice President Ramchandra Poudel are contesting for the post of the party’s parliamentary party (PP) leader. The PP leader will be named as the NC’s candidate for the post of prime minister.</div> <div> </div> <div> Among the top three leaders, NC President Koirala has relatively strong grip inside the party. Despite this, the election is going to be held in order to demonstrate a democratic practice inside the party, it is learnt.</div>', 'published' => true, 'created' => '2014-01-20', 'modified' => '2014-01-20', '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' => 'Nepali Congress (NC) has decided to conduct election of its parliamentary leader. NC’s central committee meeting on January 18 took the decision to form a three-member election organizing committee led by party spokesperson Dilendra Prasad Badu.', 'sortorder' => '2299', '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' => '2456', 'article_category_id' => '139', 'title' => 'Nepal And The World News In Brief (20 - 26 January 2014)', 'sub_title' => '', 'summary' => null, 'content' => '<div> <span style="font-size:14px;"><strong>Deutsche Bank Quits Gold Price Setting</strong></span></div> <div> Deutsche Bank AG is pulling out of the process for setting gold and silver benchmarks, a move that comes as regulators investigate possible manipulation of precious-metals prices. Deutsche, one of five banks involved in the twice-daily gold fix for global price setting, said Friday it was dropping out of the process after withdrawing from the bulk of its commodities business. </div> <div> </div> <div> <span style="font-size:14px;"><strong>Intel to cut over 5,000 jobs</strong></span></div> <div> Chipmaker Intel said Friday it plans to reduce its global workforce by over 5,000 people over the next year. The company says the cuts are in response to “evolving market trends.” Intel said it will trim about 5% of its 107,600 global workforce by the end of 2014 -- 5,380 jobs.</div> <div> </div> <div> <span style="font-size:14px;"><strong>Time Warner Rejects Charter’s $60bn bid as ‘ Grossly Inadequate’</strong></span></div> <div> Time Warner Cable has rejected a $60bn bid from rival, Charter Communications, saying the offer price was “grossly inadequate”. Charter had offered $132.50 a share, with $83 of that in cash and the rest in its own stock, to buy the firm. It said it was going public with its offer because of a lack of interest from Time Warner’s management in its efforts to purchase the firm. But Time Warner said Charter was trying to buy it for a “bargain” price.</div> <div> </div> <div> <span style="font-size:14px;"><strong>HSBC Suspends Currency Traders</strong></span></div> <div> British multinational bank HSBC has suspended two London-based foreign exchange traders as an investigation into the possible rigging of global currency dealing deepens. Others being investigated include Citigroup, JP Morgan, Barclays, UBS and Deutsche Bank.They are working with UK regulators to ascertain whether traders worked together to rig global currency values. The market is worth more than $5 trillion dollars a day.</div> <div> </div> <div> <span style="font-size:14px;"><strong>US Homebuilding Dips, but Year Best Since ‘07</strong></span></div> <div> U.S. home construction slowed in December but ended 2013 with the best showing since the housing bubble burst. The Commerce Department said Friday that builders broke ground last month at a seasonally annual rate of 999,000. That’s 9.8 percent lower than November’s pace of 1.12 million, which was the fastest in five years. </div>', 'published' => true, 'created' => '2014-01-20', 'modified' => '2014-01-20', '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' => 'Deutsche Bank AG is pulling out of the process for setting gold and silver benchmarks, a move that comes as regulators investigate possible manipulation of precious-metals prices. Deutsche, one of five banks involved in the twice-daily gold fix for global price setting, said Friday it was dropping out of the process after withdrawing from the bulk of its commodities business.', 'sortorder' => '2298', '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' => '2455', 'article_category_id' => '138', 'title' => 'Ambassador Bodde Lays Foundation Stone For New Airport Rescue Station', 'sub_title' => '', 'summary' => null, 'content' => '<div> US Ambassador Peter W. Bodde and Secretary of Ministry of Culture, Tourism and Civil Aviation Sushil Ghimire jointly laid the foundation stone for the new seismically safe Crash Rescue and Fire Station Building at Tribhuvan International Airport on January 16, Thursday. The US government is providing assistance totaling USD 462,000 to build a new station and make it resistant to earthquakes. According to a press statement by the US embassy in Kathmandu, the work is part of a larger effort to improve critical infrastructure that will allow the airport to remain open if a major earthquake were to occur. The foundation laying was marked by the 16th annual Earthquake Safety Day. </div> <div> </div> <div> In his remarks Ambassador Bodde said, “Two of my goals as the U.S. Ambassador are to support economic growth and reduce disaster risk in Nepal. Ultimately, we want to plan and prepare in a way that will save lives and destruction of property, lessen the impact of a disaster, and shorten the time of recovery."</div>', 'published' => true, 'created' => '2014-01-20', 'modified' => '2014-01-20', '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' => 'US Ambassador Peter W. Bodde and Secretary of Ministry of Culture, Tourism and Civil Aviation Sushil Ghimire jointly laid the foundation stone for the new seismically safe Crash Rescue and Fire Station Building at Tribhuvan International Airport on January 16, Thursday. The US government is providing assistance totaling USD 462,000 to build a new station and make it resistant to earthquakes. According to a press statement by the US embassy in Kathmandu, the work is part of a larger effort to improve critical infrastructure that will allow the airport to remain open if a major earthquake were to occur. The foundation laying was marked by the 16th annual Earthquake Safety Day.', 'sortorder' => '2297', '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' => '2451', 'article_category_id' => '122', 'title' => 'Kedia Organisation Re-defining Diversity', 'sub_title' => '', 'summary' => null, 'content' => '<div> </div> <div> <strong>--By TC Correspondent</strong></div> <div> </div> <table align="right" style="margin: 0px 0px 0px 10px;" width="25"> <tbody> <tr> <td> <img alt="Manoj Kedia, Executive Director, Kedia Organization" src="/userfiles/images/sp1.jpg" style="border-width: 0px; border-style: solid; width: 200px; height: 221px;" /></td> </tr> <tr> <td bgcolor="#FFFFFF"> <div align="center"> <div style="text-align: center;"> <div> <strong>Manoj Kedia</strong></div> <div> <em>Executive Director</em></div> <div> <em>Kedia Organisation</em></div> </div> </div> </td> </tr> </tbody> </table> <div> Kedia Organisation, a multi-million business conglomerate is not only one of the largest business houses in Nepal but also one of the oldest. The business house has diversified itself into agriculture, dairy, banking, trading among other industries without leaving a bit of the manufacturing sector that the group is focused on.</div> <div> </div> <div> Kedia Group is a well-known name in the cement, carpet and sugar industry. Manoj Kedia, Executive Director of the organisation says that his group has recently started manufacturing PVC carpet and is soon upgrading production capacity of Indusankhar Sugar Mill, one of Nepal’s oldest and leading sugar factories.</div> <div> </div> <div> It is an established name in the service industry. With some significant investment in this sector the business house is major promoter of Siddhartha Insurance, Siddhartha Capital and Siddhartha Bank and apart from that has been running several schools and hospitals in various parts of the country. </div> <div> </div> <div> The group has not limited itself with the sectors it has proven expertise in. It is continuously expanding. As part of its expansion plan, the group has made some investments in the housing and hydropower sector. Stating these investments to be insignificant, Kedia says that they are mainly made with a motive to get acquainted with these sectors.</div> <div> </div> <div> <span style="font-size:14px;"><strong>Hydro Interests</strong></span></div> <div> The power shortage has taken its toll on the industrial sector. And, Kedia Organisation is not an exception. Therefore, the group has lately made investments in hydropower generation. Kedia explains the groups’ logic behind its involvement in energy sector, “Power deficit is a national problem and it is obvious that major business houses want to engage in the power generation business as they are incurring heavy losses due to it.” With the growing demand for energy and high market potentials, energy has become a lucrative industry.</div> <div> </div> <div> Kedia says that the group has not made substantial investment in the energy sector as of now. “We have invested as shareholder in this sector to study the sectoral behaviour,” he says. He further adds that the country needs friendly laws and policies to attract FDI in the energy sector terming it to be a capital-intensive.</div> <div> </div> <div> <span style="font-size:14px;"><strong>Service and Trade Focus</strong></span></div> <div> The service and trading sector has lured a lot of business houses to divert from their traditional specialisation in manufacturing. They feel that it is difficult for manufacturing sector to prosper due to power shortage, open import of cheap goods from India and China. Kedia feels that it is extremely difficult for Nepali companies to compete with imported products in terms of cost. This is one of the reasons for the Kedia Organisation to diversify its portfolio into the service and trading businesses. Kedia adds, “Lack of skilled and productive manpower, unfriendly labour environment and decrease in agricultural production has triggered increase in imports of agro products. These are other factors that are affecting the growth of the manufacturing industries in Nepal and discouraging investors to invest in manufacturing sectors.”</div> <div> </div> <div> <span style="font-size:14px;"><strong>Agro Player</strong></span></div> <div> Kedia Group is one of the key players in the agriculture and food processing industry. The group is involved in agro-based industries with half a dozen companies that process and produce various food products such as rice, flour, lentils and sugar. Mahabir Adhunik Dal Udyog is one of the oldest manufacturing units in the lentil industry with a working history of more than 75 years. This unit recently upgraded its production capacity to 96 metric tonnes per day. </div> <div> </div> <div> Along with producing agro-based products, the group is trying to create backward linkages with the farmers. Kedia says that the group has been regularly coordinating with farmers that it deals with. “We regularly provide them with various skill-based trainings and loans. We have set up a sugar mill in Sarlahi district, country’s major sugarcane-growing centre, 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,” he said.</div> <div> </div> <div> <span style="font-size:14px;"><strong>Five Years Later</strong></span></div> <div> With the changing political environment, business houses have found reasons to be optimistic about the future. Kedia says that his group is not only hopeful about the probable growth of his business but also looks forward for growth in the overall development of the country.</div> <div> </div> <div> The group has plans to diversify its business involvements. Kedia reveals that his group will be engaged 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,” he says.</div> <div> </div> <div> <div> <hr /> <p style="text-align: center;"> <strong style="font-size: 16px;">The Rise of Kedia Organisation</strong></p> </div> <div> Kedia Organisation was established in 1909 as an evolution of the family owned trading business. The Kedia family started its business as a cloth merchant with stores in Birgunj and Kathmandu that selling imports from India. With the initiation and leadership of Brij Lal Kedia, first generation businessperson of the family, the business gradually expanded into food grains trading. It started small but as time progressed, it expanded across Nepal. Manoj Kedia, Executive Director of Kedia Organisation, narrates, “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> 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. Kedia says that during that time, the steel, textile, and corrugated sheet industries from Kedias were pioneers in their respective fields. They then became the backbones of the present day Kedia Organisation. At the same time, the group also entered in general merchandising sector by importing goods from third countries and bulk-traded them in local market. Imported goods included clothes, electronics, food items, medical equipment, household products, hardware, cement, sugar, and edible oil among others. Meanwhile the company also exported rice to Tibet and pulses and lentils to Sri Lanka, Bangladesh and to some European countries. </div> <div> </div> <div> Similarly, the group established Caltex Company, a petrol pump agent in Nepal, and this is still in operation as Kedia Auto in Birgunj. Kedia claims that 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,” he says.</div> <div> </div> <div> Today the group has over 1000 administrative staff, more than 100 technical staff and over 2500 skilled and semi-skilled workers. Today the group has investments in around four dozen companies, doing business in wide range of sectors.</div> <div> </div> </div> <table border="0" cellpadding="10" width="99%"> <tbody> <tr> <td bgcolor="#E5E4E2"> <div> <div> <span style="font-size:14px;"><strong>Banks and Financial Institutions</strong></span></div> <div> •<span class="Apple-tab-span" style="white-space:pre"> </span>Gorkha Finance Ltd</div> <div> •<span class="Apple-tab-span" style="white-space:pre"> </span>Siddhartha Bank Ltd</div> <div> •<span class="Apple-tab-span" style="white-space:pre"> </span>Siddhartha Capital Ltd</div> <div> •<span class="Apple-tab-span" style="white-space:pre"> </span>Siddhartha Insurance Ltd</div> <div> </div> <div> <span style="font-size:14px;"><strong>Fabrication and Iron and Steel</strong></span></div> <div> •<span class="Apple-tab-span" style="white-space:pre"> </span>Narayani Metal Industries</div> <div> •<span class="Apple-tab-span" style="white-space:pre"> </span>Sundar Wire and Nails</div> <div> •<span class="Apple-tab-span" style="white-space:pre"> </span>Sundar Furniture Industries Pvt Ltd</div> <div> •<span class="Apple-tab-span" style="white-space:pre"> </span>Sundar Steel Pvt Ltd</div> <div> </div> <div> <span style="font-size:14px;"><strong>Dairy and Agro Industries</strong></span></div> <div> •<span class="Apple-tab-span" style="white-space:pre"> </span>Amarawati Madyashala Pvt Ltd</div> <div> •<span class="Apple-tab-span" style="white-space:pre"> </span>Sitaram Gokul Milks Kathmandu Ltd</div> <div> •<span class="Apple-tab-span" style="white-space:pre"> </span>Indushankar Chini Udyog Ltd</div> <div> •<span class="Apple-tab-span" style="white-space:pre"> </span>Mahabir Adhunik Dal Udyog</div> <div> •<span class="Apple-tab-span" style="white-space:pre"> </span>Ram Dal Udyog</div> <div> •<span class="Apple-tab-span" style="white-space:pre"> </span>Brijlal Chamal Udyog Harion</div> <div> •<span class="Apple-tab-span" style="white-space:pre"> </span>Birgunj Khadya Udyog Pvt Ltd</div> <div> </div> <div> <span style="font-size:14px;"><strong>Exports</strong></span></div> <div> •<span class="Apple-tab-span" style="white-space:pre"> </span>Medical Herbs</div> <div> •<span class="Apple-tab-span" style="white-space:pre"> </span>Red Split Lentils</div> <div> •<span class="Apple-tab-span" style="white-space:pre"> </span>Flooring Carpets</div> <div> •<span class="Apple-tab-span" style="white-space:pre"> </span>Refined Vegetable Ghee</div> <div> •<span class="Apple-tab-span" style="white-space:pre"> </span>Pashmina (Cashmere) Products</div> <div> </div> <div> <span style="font-size:14px;"><strong>Imports</strong></span></div> <div> •<span class="Apple-tab-span" style="white-space:pre"> </span>Paper Products</div> <div> •<span class="Apple-tab-span" style="white-space:pre"> </span>Textile & Fabrics</div> <div> •<span class="Apple-tab-span" style="white-space:pre"> </span>Industrial Supplies</div> <div> •<span class="Apple-tab-span" style="white-space:pre"> </span>Metals & Minerals</div> <div> •<span class="Apple-tab-span" style="white-space:pre"> </span>Printing & Publishing</div> <div> •<span class="Apple-tab-span" style="white-space:pre"> </span>Construction Supplies</div> <div> •<span class="Apple-tab-span" style="white-space:pre"> </span>General Merchandise</div> <div> •<span class="Apple-tab-span" style="white-space:pre"> </span>Agro & food Products</div> <div> •<span class="Apple-tab-span" style="white-space:pre"> </span>Flooring & Furnishing</div> <div> •<span class="Apple-tab-span" style="white-space:pre"> </span>Fertilizers & Chemicals</div> <div> •<span class="Apple-tab-span" style="white-space:pre"> </span>Medical & Pharmaceuticals</div> <div> •<span class="Apple-tab-span" style="white-space:pre"> </span>Electronic & Electrical Goods</div> <div> •<span class="Apple-tab-span" style="white-space:pre"> </span>Cosmetics & Household Appliances</div> <div> </div> <div> <span style="font-size:14px;"><strong>Foreign Brand Representation</strong></span></div> <div> •<span class="Apple-tab-span" style="white-space:pre"> </span>Haier</div> <div> •<span class="Apple-tab-span" style="white-space:pre"> </span>Hisense</div> <div> •<span class="Apple-tab-span" style="white-space:pre"> </span>Toshiba</div> <div> •<span class="Apple-tab-span" style="white-space:pre"> </span>Evernal</div> <div> •<span class="Apple-tab-span" style="white-space:pre"> </span>Mitsuma</div> <div> •<span class="Apple-tab-span" style="white-space:pre"> </span>Chin Yang Corporation (South Korea)</div> <div> •<span class="Apple-tab-span" style="white-space:pre"> </span>Bharat Petroleum Corporation (India)</div> <div> </div> <div> <span style="font-size:14px;"><strong>Trading Companies</strong></span></div> <div> •<span class="Apple-tab-span" style="white-space:pre"> </span>Trading Firm</div> <div> •<span class="Apple-tab-span" style="white-space:pre"> </span>Sumit Impex</div> <div> •<span class="Apple-tab-span" style="white-space:pre"> </span>Kanak New Traders</div> <div> •<span class="Apple-tab-span" style="white-space:pre"> </span>Nepal Multinational Pvt Ltd</div> <div> •<span class="Apple-tab-span" style="white-space:pre"> </span>Eshita Trading Pvt Ltd</div> <div> •<span class="Apple-tab-span" style="white-space:pre"> </span>Yagya Shree Pvt Ltd</div> <div> •<span class="Apple-tab-span" style="white-space:pre"> </span>Sauryn Exim Pvt ltd</div> <div> •<span class="Apple-tab-span" style="white-space:pre"> </span>Infotech Solution Pvt Ltd</div> <div> •<span class="Apple-tab-span" style="white-space:pre"> </span>Nepal Sagarmatha Traders</div> <div> •<span class="Apple-tab-span" style="white-space:pre"> </span>Diamond Agro International</div> <div> •<span class="Apple-tab-span" style="white-space:pre"> </span>Rohit International Pvt Ltd</div> <div> •<span class="Apple-tab-span" style="white-space:pre"> </span>Sanjay Trade Links Pvt Ltd</div> <div> •<span class="Apple-tab-span" style="white-space:pre"> </span>Kedia International Pvt Ltd</div> <div> </div> <div> <span style="font-size:14px;"><strong>Education</strong></span></div> <div> •<span class="Apple-tab-span" style="white-space:pre"> </span>Sundarmal Ram Kumar Girls Higher Secondary School, Birgunj</div> <div> •<span class="Apple-tab-span" style="white-space:pre"> </span>Maharaja Agrasen Faculty of Management, Birgunj</div> <div> •<span class="Apple-tab-span" style="white-space:pre"> </span>D.A.V. Rukamani Banarasi Kedia School, Birgunj</div> <div> •<span class="Apple-tab-span" style="white-space:pre"> </span>D.A.V. Sushi Kedia Vishwa Bharati, Harion, Sarlahi</div> <div> •<span class="Apple-tab-span" style="white-space:pre"> </span>D.A.V. Kedia Vishwa Bharati, Biratnagar</div> <div> •<span class="Apple-tab-span" style="white-space:pre"> </span>D.A.V. Kedia Vishwa Bharati Nepal, Kathmandu</div> <div> •<span class="Apple-tab-span" style="white-space:pre"> </span>D.A.V. Sushil Kedia Vishwa Bharati, Lalitpur</div> <div> </div> <div> <span style="font-size:14px;"><strong>Healthcare and Welfare</strong></span></div> <div> •<span class="Apple-tab-span" style="white-space:pre"> </span>Ram Kumar Mahabir Prasad Kedia Eye Hospital, Birgunj</div> <div> •<span class="Apple-tab-span" style="white-space:pre"> </span>Mahabir Prasad Brijlal Kedia Dental Institute, Birgunj</div> <div> •<span class="Apple-tab-span" style="white-space:pre"> </span>Sitaram Kedia Sewa Sadan, Harion, Sarlahi</div> <div> •<span class="Apple-tab-span" style="white-space:pre"> </span>Nepal Bodhi Tree International Society, Birgunj</div> <div> •<span class="Apple-tab-span" style="white-space:pre"> </span>Mahabir Prasad Brijlal Kedia Sewa Trust, Birgunj</div> <div> •<span class="Apple-tab-span" style="white-space:pre"> </span>Kedia Children’s Scholarship Fund, Birgunj</div> <div> •<span class="Apple-tab-span" style="white-space:pre"> </span>Sushil Kedia Sewa Foundation, Birgunj</div> <div> </div> <div> <span style="font-size:14px;"><strong>Other Manufacturing units</strong></span></div> <div> •<span class="Apple-tab-span" style="white-space:pre"> </span>Brij Cement Pvt Ltd</div> <div> •<span class="Apple-tab-span" style="white-space:pre"> </span>Sundar Candles</div> <div> •<span class="Apple-tab-span" style="white-space:pre"> </span>Sushil Vanaspati Pvt Ltd</div> <div> •<span class="Apple-tab-span" style="white-space:pre"> </span>Yeti Fabrics Ltd</div> </div> </td> </tr> </tbody> </table> <div> </div>', 'published' => true, 'created' => '2014-01-20', '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' => 'Kedia Organisation, a multi-million business conglomerate is not only one of the largest business houses in Nepal but also one of the oldest. The business house has diversified itself into agriculture, dairy, banking, trading among other industries without leaving a bit of the manufacturing sector that the group is focused on.', 'sortorder' => '2296', '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' => '2452', 'article_category_id' => '134', 'title' => '“In The Long Run, Ethics Pays”', 'sub_title' => '', 'summary' => null, 'content' => '<div> </div> <div> <span style="font-size:14px;"><strong>Prof C Panduranga Bhatta</strong> is a Professor and founder coordinator of Business Ethics and Communication Group and Coordinator of Management Centre for Human Values at the Indian Institute of Management Calcutta (IIMC). He has been continuously involved in academic administration of the IIMC since 1999. In an interview with The Corporate’s <strong>Angila Sharma</strong>, he discussed core principles of business ethics and its relevance in the present context. <strong>Excerpts</strong></span><strong>:</strong></div> <div> </div> <div> <span style="font-size:14px;"><strong>Generally business ethics and CSR are treated as synonymous. How to distinguish them?</strong></span></div> <div> Before the introduction of the term Corporate Social Responsibility (CSR), business ethics’ definition was limited to not doing corruption in business. But now, business ethics is defined and understood in a broader way and includes Corporate Social Responsibility. So, I would like to say that CSR is one of the aspects of business ethics. As such, the business houses that are active in their CSR can be called ethical because they have realized that they have a duty to perform. </div> <div> </div> <div> Earlier, business houses would conduct business in an ethical manner but would not be concerned with the community. But, now, they should also be concerned with the society because they make profit because of the ordinary people around them. So, CSR is a part of business ethics.</div> <div> </div> <div> <span style="font-size:14px;"><strong>The popular view including that of the government is that business ethics and profit making cannot go hand in hand. What is your opinion on this? </strong></span></div> <div> This is the biggest mistake people are making. We can take examples of corporations in the international arena that are making profit ethically. Ethics means taking care of the safety of the products; it means you don’t do wrong to the customers through your products. Business ethics means that corporations allocate certain amount of their profit for the betterment of the people. So, the corporations, which are conducting business in an ethical manner, also earn profit.</div> <div> </div> <div> This issue can be looked upon in two ways. It depends on the business corporation whether it is looking at the short term or long term. Short-term business means operating for a small period of time, earning profit in any manner and then shifting to a new place. We describe these kinds of businesses as ‘fly by night operators’. This type of activity is completely unethical and we do not consider these types of activities as business. We are talking about business corporations that operate for a long period of time. Such business corporations do not limit themselves to stopping corrupt activities, but widen their view to the entire society. Thus, in the long run, such business houses survive, make profit and are considered as ethical business firms. In the long run, ethics pays.</div> <div> </div> <div> <span style="font-size:14px;"><strong>In today’s competitive world, how can business houses gain comparative advantage through practicing business ethics?</strong></span></div> <div> Globalization can give you advantage as well as disadvantage. Firstly, if you are an ethical company, you are welcomed everywhere. This is because of the reputation of the business house which is built on ethics. Business houses have to take care of ethics. For example: Infosys is a company that is present throughout the world. They have a motto that says ‘Powered by Intellect; Driven by values’. They have been practicing it and people have been watching their loyalty towards their motto.If people are convinced, they will accept the company. This way the business houses can gain comparative advantage. Their ethics provide them the comparative advantage.</div> <div> </div> <div> <span style="font-size:14px;"><strong>What innovative methods are being practiced or developed to instil human values in the management of business organizations?</strong></span></div> <div> Human Values is a very comprehensive term. It includes the behaviour of the business houses towards its customers, employees, community and the environment. The business house has to be concerned about the environment and the community while practicing business. </div> <div> </div> <div> Business houses can instil human values in their practice through the development of caring attitude.Any business houses should consider human beings as their first priority.As a businessperson, relationship matters a lot. If business houses fail to maintain good relationship with the employees, customers and the community, it fails. </div> <div> </div> <div> <span style="font-size:14px;"><strong>How do you see the situation of business in South Asia?</strong></span></div> <div> The situation is picking now because of globalization. People are exposed to the activities of business houses.Earlier, the situation was such that business houses would carry out their work in an unethical manner and to cover it up, they would do some charity and give donations. But, now, how any corporation makes business is noticed and reported. </div> <div> </div> <div> Another thing that is improving the situation is the international ranking. Every business house wants to participate in the international ranking. For example: Transparency International ranking.The moment you perform corrupt activities or you compromise with the safety of the employees and customers, you are ranked in the top of the most corrupt company. Earlier, companies were not concerned with the country’s image, but now, companies are tied up with the country. If the country does not have good image, nobody would want to do business in that country. Countries are the conglomerates of certain companies. This has helped in improving the situation of business ethics in South Asia and rest of the world.</div> <div> </div> <div> <span style="font-size:14px;"><strong>Marketing profession is derided as an example of unethical business practice. What is your suggestion to this professional field for overcoming this challenge?</strong></span></div> <div> In marketing, what matters the most is the product. Communication becomes very important while marketing. If you are giving false information to the consumers while selling the product, then, you lose reputation. If you are marketing a product that does no harm to the consumers, then it is not unethical.</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' => 'Prof C Panduranga Bhatta is a Professor and founder coordinator of Business Ethics and Communication Group and Coordinator of Management Centre for Human Values at the Indian Institute of Management Calcutta (IIMC). He has been continuously involved in academic administration of the IIMC since 1999. In an interview with The Corporate’s Angila Sharma, he discussed core principles of business ethics and its relevance in the present context. Excerpts:', 'sortorder' => '2295', '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' => '2448', 'article_category_id' => '144', 'title' => 'Better Late Than Never', 'sub_title' => '', 'summary' => null, 'content' => '<div> The government has prepared to start exploring natural gas (Methane) trapped below the surface of the Kathmandu Valley and excavate it for commercial use. The Department of Mines and Geology (DMG) has said that it will start gas exploration in Imadol of Lalitpur by mid-March. The Department has even sanctioned a budget of Rs 5 million for the project. Though late, this effort by the government is worth praising. It has revived hopes that the exploitation of this wealth below our feet could help address the energy crisis in the Kathmandu valley to some extent. </div> <div> </div> <div> It has been long proved that the Kathmandu Valley denizens are sitting on top of a huge deposit of underground natural gas which is highly combustible and can be utilized as a dependable alternative source of energy. In some areas of Patan, Thapathali and Tripureswor, the gas is being tapped by individual households free of cost.</div> <div> </div> <div> Studies carried out by the DMG with the help of donor agencies such as JICA from the late 1970S to late 1990s indicate the gas reserves can fulfill the domestic energy needs of an estimated 20,000 households in Kathmandu Valley for 30 years. In the past, the DMG had dug 14 gas wells in an area of 26 sq kms including Teku, Tripureswor and Koteswor of Kathmandu, and Imadol and Tikathali of Lalitpur. </div> <div> </div> <div> The DMG even established a model gas plant in Teku in 1983 which stopped operating in the late 1990s. The experiment was to see if gas supply was consistent enough for commercial use. According to sources at DMG, the gas collected in the plant was supplied to various government offices in the immediate vicinity of the model plant. </div> <div> </div> <div> In 2001, the DMG even floated a project titled ‘Kathmandu Gas Project’ in the private sector. But no private company showed any interest in the project. DMG had initiated the project with the help of JICA and UNDP, concluding that a potential gas reserve of about 300 million cu m exists in central and southern Kathmandu as far back as 1978.</div> <div> </div> <div> Reports on past exploration of the Valley’s gas have shown that the gas is biogenic and is mixed with water. This could be the reason why private investors think that the returns from gas excavation might not be very lucrative. That’s why they have not come forward for the excavation process. The DMG hopes that private investors can be roped in once it is established that the gas in the valley is commercially viable. That’s why it has decided to spend Rs 5 million initially in the exploration and excavation of gas at Imadol of Lalitpur. The DMG also hopes that this gas could be sold to housing companies or it can be used to produce thermal electricity of around 2 MW. </div> <div> </div> <div> However, instead of producing thermal energy from this gas, it would be wise to fill it in cylinders and supply it for household use or as fuel to means of transport. The import of petroleum gas from India is one of the major reasons behind our widening trade deficit with the southern neighbour. If the Valley’s gas can be used for cooking, for example, the import of LPG from India can be decreased to some extent. The government should think along this line. If the government’s experiment becomes successful, private investors will certainly come forward for the excavation of the gas.</div>', 'published' => true, 'created' => '2014-01-19', 'modified' => '2014-01-20', '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 government has prepared to start exploring natural gas (Methane) trapped below the surface of the Kathmandu Valley and excavate it for commercial use. The Department of Mines and Geology (DMG) has said that it will start gas exploration in Imadol of Lalitpur by mid-March. The Department has even sanctioned a budget of Rs 5 million for the project. Though late, this effort by the government is worth praising. It has revived hopes that the exploitation of this wealth below our feet could help address the energy crisis in the Kathmandu valley to some extent.', 'sortorder' => '2294', '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' => '2450', 'article_category_id' => '91', 'title' => 'New Foreign Aid Policy Ready Ceiling On Loans, Grants', 'sub_title' => '', 'summary' => null, 'content' => '<div> <strong>--By TC Correspondent </strong></div> <div> </div> <div> In a bid to bring foreign aid under the ambit of national system and priorities, the Ministry of Finance (MoF) has prepared a new foreign aid policy which will be implemented after the formation of a new elected government. “The new foreign aid policy is ready. It has been prepared after homework of nearly a decade following consultations with all stakeholders. Now we are waiting for the new government to implement it,” said Joint Secretary Madhu Kumar Marasini, chief of the International Economic Cooperation Coordination Division under the MoF.</div> <div> </div> <div> The new policy has some new provisions regarding foreign aid. According to the new policy, the government will not accept a foreign loan of less than USD 20 million and a grant of less than USD 5 million. However, the policy accepts technical assistances of smaller size.</div> <div> </div> <div> “The new policy has put ceilings on foreign loans and grants,” Marasini said, “It also has the provision of mentioning all foreign assistance in the Red Book.” According to Marasini, smaller donors will have to make their contribution through a pool fund.</div> <div> </div> <div> He added that the revised policy is aimed at boosting investments in sectors such as energy, infrastructure (highways and airports), agriculture and irrigation. “The new policy has prioritized these sectors which need huge investment,” Marasini made it clear. </div> <div> </div> <div> He added that the new policy will make the foreign assistance regime transparent. “It’s us who should be sitting in the driver’s seat, not the donors. This, in essence, is the fundamental of the new aid policy,” Marasini shared.</div> <div> </div> <div> The policy aims at graduating Nepal out of the group of least developed countries to the block of developing countries by 2022. </div> <div> </div> <div> At present, there are nearly 500 projects being run through foreign assistance. The new aid policy aims at bringing down the number of such projects to 150.</div> <div> </div> <div> There are nearly 40 international donors providing foreign assistance including loans, grants and technical assistance to Nepal at present. </div>', 'published' => true, 'created' => '2014-01-19', 'modified' => '2014-01-20', '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' => 'In a bid to bring foreign aid under the ambit of national system and priorities, the Ministry of Finance (MoF) has prepared a new foreign aid policy which will be implemented after the formation of a new elected government. “The new foreign aid policy is ready. It has been prepared after homework of nearly a decade following consultations with all stakeholders. Now we are waiting for the new government to implement it,” said Joint Secretary Madhu Kumar Marasini, chief of the International Economic Cooperation Coordination Division under the MoF.', 'sortorder' => '2293', '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' => '2446', 'article_category_id' => '122', 'title' => 'Chachan Group: Cementing Its Foundation', 'sub_title' => '', 'summary' => null, 'content' => '<div> </div> <div> <strong>--By Gaurav Aryal and Om Prakash Khanal</strong></div> <div> </div> <table align="right" style="margin: 0px 0px 0px 10px;" width="25"> <tbody> <tr> <td> <img alt="Satish Chachan, Director, Chachan Group" src="/userfiles/images/sptlght1%20(Copy).jpg" style="border-width: 0px; border-style: solid; width: 200px; height: 221px;" /></td> </tr> <tr> <td bgcolor="#FFFFFF"> <div align="center"> <div style="text-align: center;"> <div> <strong>Satish Chachan</strong></div> <div> <em>Director, Chachan Group</em></div> </div> </div> </td> </tr> </tbody> </table> <div> Chachan Group evolved into a manufacturing and trading house when it changed its course into manufacturing from the family owned trading business. This move not only made the group grow leaps and bounds but also established itself as a leading industrial and trading house. The group in its initial days traded various commodities such as leather and leather products, cement, vegetable ghee, food grains, lentils, oil seeds, spices, consumer goods, fertilizer, pulses, edible oils and animal feeds. Today, the group not only trades these commodities but also produces them. The group’s expansion was not merely driven by the market force. There were visions and entrepreneurial skills of earlier generation of businessmen, Mahabir Prasad Chachan and Shree Maliram Chachan, who steered the business towards what it is today. When the group passed onto the new generation of businessmen, Babu Lal Chachan and Parmeshwar Lal Chachan who are Chairman and Vice-Chairman respectively, the group had reached to a position from where it would never have to look back. </div> <div> </div> <div> <span style="font-size:14px;"><strong>Growing Larger</strong></span></div> <div> Satish Chachan, Director of Chachan Group says that the group is continuously following the tradition established by its founders towards further growth of the company. He proudly says, “Compared to the group’s initial days, the company has achieved a remarkable success in cement manufacturing besides continuing its decades old cement selling business.” Within the last decade, the group has established three cement grinding plants each having a production capacity of 350 metric tonnes (MT) of cement per day in Birgunj. Similarly, the group has begun the construction of fourth cement grinding plant in Nepalgunj with the same capacity as that of a single unit in Birgunj.</div> <div> </div> <div> Chachan says that the group had established a poly-plastic bag industry two years back in Birgunj. This factory has enabled the group’s cement plants to use its own cement packing bags. “This poly-plastic bag industry has also earned a big business faith in the major sectors of the country. This clearly indicates the satisfactory present and past situation of the company and its growing capability to contribute a large amount of revenue to the nation.”</div> <div> </div> <div> <span style="font-size:14px;"><strong>Gaining Strength</strong></span></div> <div> The group has shown remarkable progress in goods manufacturing that it has decided to specialise on. At present, it is producing cement, vegetable oil, leather goods, poly-plastic goods and various food products through its food processing units. Likewise, the group is also involved in trading through its three companies who have direct presence in over 19 different cities across the country.</div> <div> </div> <div> Chachan Group is today considered one of the leading business houses of Nepal based in Birgunj for producing variety of commodities with a wide reach across the country. Chachan claims that the products range that the company trades in and its wide network are suggestive of their market and the robust financial strength of the group.</div> <div> </div> <div> He shares that the annual turnover of the group exceeds Rs 4 billion. He also adds that the staggering 70 per cent of the total turnover is generated by the cement wing of the group. While sharing the strength of the group, Chachan boasts that his business has been employing 1500 people directly along with a huge number of indirect employments in transportation and handling of the raw materials and finished products. He also adds that 300 employees are working in the cement wing alone. The group’s beneficiaries such as construction companies, commercial enterprises, transporters, traders, farmers and consumers are spread over major parts of Tarai and hilly regions of the country.</div> <div> </div> <div> <span style="font-size:14px;"><strong>Changing the Course</strong></span></div> <div> For decades, the group had been trading various commodities. Chachan says, “This trade grew bigger and flourished gradually, which ultimately evolved into the establishment and identification of the Chachan Group. This can be regarded as the first and fundamental turning point of the company.” Gradually the trading business expanded; meanwhile, various new manufacturing units were established.</div> <div> </div> <div> Around one and a half decade ago, the group decided to establish cement manufacturing units realising the growing demand of construction materials and cement in particular. This demand was identified when the state owned cement plants such as Hetauda Cement, Udaypur Cement and other private cement producers were unable to meet the major percentage of cement demands. This inspired the group to establish Narayani Cement Udyog Pvt Ltd in Birgunj. This company today has production capacity of 1050 tonnes per day. </div> <div> </div> <div> <span style="font-size:14px;"><strong>Roadmap Ahead</strong></span></div> <div> Chachan believes that the group has kept its promise of offering best quality products and services at a reasonable cost and claims that it would open up new avenues for the group to expand its manufacturing and trading businesses in the days ahead. “Our past experience gives us confidence that we have further opportunities and scope for expansion. We want to establish our own clinker producing units so that we can stand as one of the leading cement and clinker manufacturer of Nepal,” envisions Chachan.</div> <div> </div> <div> He reveals that the group has a clinker producing plant in the pipeline. He elaborated that this new plant will have a production capacity of 700 to 750 tonnes per day. Likewise, once the Nepalgunj based cement plant comes into operation, the group is planning to add another cement grinding plant there with production capacity and design similar to the existing one.</div> <div> </div> <div> Similarly, Chachan reveals that the group is planning to acquire a limestone quarry in a hilly area of Makawanpur district, few kilometres away from Hetauda. “Besides this, we have been thinking to buy some additional land to establish the clinker producing plant.Though we are already in touch with some of the renowned Indian companies for establishing the clinker plant, we think this will materialise only after three to five years from now,” he added. Similarly, Chachan is ready to expand other plants depending on the market demand and financial status.</div> <div> </div> <div> <img alt="Chachhan Group" src="/userfiles/images/sptlight%20(Copy).jpg" style="margin-left: 10px; margin-right: 10px; height: 333px; width: 550px;" /></div> <div> </div> <div> <span style="font-size:16px;"><strong>CSR Commitments</strong></span></div> <div> As part of its Corporate Social Responsibility (CSR), the group has given prime importance to environmental protection and freeing its locality from pollutants. The group is also strengthening and accelerating its sustainable environmental efforts through the reduction of environmental impacts and the conservation of the biodiversity. “We have been aiming to provide satisfaction and gratification to as many stakeholders as possible. To this aspect, we believe and act ethically and relentlessly to seek improvement in the quality, safety, information security and reliability of our products and services,” explains Chachan.</div> <div> </div> <div> Satish Chachan, Director of the group says, “We respect our customer and their culture and the community they belong to while we deal with them in the course of our business activities. We also engage in dialogues with various stakeholders in society and incorporate their feedback to enhance our CSR activities so that we can contribute our best to improve our surroundings, quality and the effectiveness of our activities.” </div> <div> Similarly, the company has dedicated itself in creating a safe and comfortable work environment for all its employees so that they can realise their full potential and have a fulfilling career, as a responsible corporate culture.</div> <div> </div> <table border="0" cellpadding="10" width="99%"> <tbody> <tr> <td bgcolor="#E5E4E2"> <div> <div> <span style="font-size:16px;"><strong>Sister Companies of Chachan Group</strong></span></div> <div> •<span class="Apple-tab-span" style="white-space:pre"> </span>Narayani Cement</div> <div> •<span class="Apple-tab-span" style="white-space:pre"> </span>Jaya Bageshwari Cement</div> <div> •<span class="Apple-tab-span" style="white-space:pre"> </span>Narayani Oil Refinery Udyog</div> <div> •<span class="Apple-tab-span" style="white-space:pre"> </span>Narayani Leather Manufacturing Industries</div> <div> •<span class="Apple-tab-span" style="white-space:pre"> </span>Narayani Modern Pulses Industries</div> <div> •<span class="Apple-tab-span" style="white-space:pre"> </span>Shree Adhunik Dal Udyog</div> <div> •<span class="Apple-tab-span" style="white-space:pre"> </span>Shree Agro Processing Unit</div> <div> •<span class="Apple-tab-span" style="white-space:pre"> </span>Adarsh Oil Industry</div> <div> •<span class="Apple-tab-span" style="white-space:pre"> </span>Adarsh Tel Udyog</div> <div> •<span class="Apple-tab-span" style="white-space:pre"> </span>Adarsh Polyplastic Pvt Ltd</div> <div> </div> <div> <span style="font-size:16px;"><strong>Independent Trading Concerns under the Group</strong></span></div> <div> •<span class="Apple-tab-span" style="white-space:pre"> </span>Chachan Implex</div> <div> •<span class="Apple-tab-span" style="white-space:pre"> </span>Devki International </div> <div> •<span class="Apple-tab-span" style="white-space:pre"> </span>Manoj International Traders</div> <div> </div> <div> <span style="font-size:16px;"><strong>SWOT Analysis</strong></span></div> <div> </div> <div> <span style="font-size:14px;"><strong>Strengths</strong></span></div> <div> •<span class="Apple-tab-span" style="white-space:pre"> </span>Customers </div> <div> •<span class="Apple-tab-span" style="white-space:pre"> </span>Staff </div> <div> •<span class="Apple-tab-span" style="white-space:pre"> </span>Good quality products and services</div> <div> •<span class="Apple-tab-span" style="white-space:pre"> </span>Reasonable price </div> <div> •<span class="Apple-tab-span" style="white-space:pre"> </span>Harmonic relationship with employees, customers and local surroundings</div> <div> •<span class="Apple-tab-span" style="white-space:pre"> </span>Disciplined working attitude</div> <div> •<span class="Apple-tab-span" style="white-space:pre"> </span>Timely revenue payments to the government </div> <div> </div> <div> <span style="font-size:14px;"><strong>Weaknesses</strong></span></div> <div> •<span class="Apple-tab-span" style="white-space:pre"> </span>Inability to give hundred percent employment to the local residents </div> <div> •<span class="Apple-tab-span" style="white-space:pre"> </span>Cannot fulfill the donation demands from local parties and their leaders </div> <div> </div> <div> <span style="font-size:14px;"><strong>Opportunities</strong></span></div> <div> •<span class="Apple-tab-span" style="white-space:pre"> </span>Prospects for growth of construction material businesses</div> <div> •<span class="Apple-tab-span" style="white-space:pre"> </span>Growing domestic market and purchasing capacity of people</div> <div> •<span class="Apple-tab-span" style="white-space:pre"> </span>Rapidly emerging technological innovations</div> <div> </div> <div> <span style="font-size:14px;"><strong>Threats</strong></span></div> <div> •<span class="Apple-tab-span" style="white-space:pre"> </span>Lack of smooth business environment</div> <div> •<span class="Apple-tab-span" style="white-space:pre"> </span>Frequent bandhs and strikes </div> <div> •<span class="Apple-tab-span" style="white-space:pre"> </span>Lack of environment to work peacefully and uninterruptedly where the group is based</div> <div> </div> <div> <span style="font-size:16px;"><strong>Market Positioning</strong></span></div> <div> Products of Chachan Group has a wide market coverage including major cities and towns such as Birgunj, Hetauda, Kalaiya, Narayanghat, Kathmandu, Bhaktapur, Banepa, Batar, Pokhara, Bhairahawa, Krishna Nagar, Dang, Nepalgunj, Dhangadhi, Nijgarh, Gaur, Lahan, Janakpur, Jhapa, Morang, Ilam and other places in hilly and Tarai region. According to the group, major market for cement is in all the belts extending from Birgunj to Jhapa and in Hetauda, Narayanghatand major cities and towns of Bagmati zone.</div> <div> </div> <div> According to Satish Chachan, Director of the group, product placement is done through various dealers and transporters. Group’s contact or branch offices and dealers are channels for distribution. Major product range includes daily commodities, construction materials, leather goods, fertilizers among others. </div> <div> All the factories of the group are being operated in full capacity to meet the market demand. Products are sold under different brand names such as Trishakti and Bajrashakti in the cement segment while other commodities also have their own niche brand value recognised in their market targets.<span class="Apple-tab-span" style="white-space:pre"> </span></div> </div> </td> </tr> </tbody> </table> <p> </p>', 'published' => true, 'created' => '2014-01-19', 'modified' => '2014-01-20', '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' => 'Chachan Group evolved into a manufacturing and trading house when it changed its course into manufacturing from the family owned trading business. This move not only made the group grow leaps and bounds but also established itself as a leading industrial and trading house. The group in its initial days traded various commodities such as leather and leather products, cement, vegetable ghee, food grains, lentils, oil seeds, spices, consumer goods, fertilizer, pulses, edible oils and animal feeds.', 'sortorder' => '2292', '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' => '2419', 'article_category_id' => '109', 'title' => 'Nepse Begins The Week With A Decline', 'sub_title' => '', 'summary' => null, 'content' => '<div> </div> <div> <strong>--By Sanjeev Sharma</strong></div> <div> </div> <div> Nepal Stock Exchange Limited (Nepse) index, the barometer of country’s capital market dropped by almost 5.28 points on Sunday, the first trading day of the week. The bench mark index, which was closing at 763.76 on Thursday-- the last trading day of previous week settled at 758.48 points on Sunday. Following the Nepse, Sensitive index representing class ‘A’ listed companies in the secondary market, loses 1.39 points to settle at 169.56. </div> <div> </div> <div> The fall in Nepse Sunday is attributed by decrease in all sub-indices except Finance sub-index traded in the day. Hotel sub-index was the biggest loser with a fall of 45.23 points (4.01%). Similarly, the sub-indices of ‘Other’, Hydropower and Commercial banks fell by 15.27, 11.34 points and 4.99 points respectively for the day. The Insurance sub-index loses (2.39 points) followed by Development Banks sub-index (0.52 points) and Trading (0.08 points). </div> <div> </div> <div> <span style="font-size:14px;"><strong>Nepse Mostly Down for the Week in Thin Trading</strong></span></div> <div> After sharp gains for 6 consecutive weeks, the Nepse index continued its retreat for second week in a row amid thin weekly trading. Nepse closed down by 16.03 points last week. Profit booking strategy of investors along with warnings about the unnatural surge in the index from regulators and top government officials seem to have reined the stock market. Many investors are selling the stocks they bought few months back to secure profit.</div> <div> </div> <div> For the period of 29th December and 3rd January, the number of transactions came down to 11,093 (which was 15,000 last week). In the mean time, altogether 3.6 million units shares that worth Rs 2.27 billion turnovers being sold in the stock market. Last week, Nepse’s turnover fell by 36.18 per cent compared to the previous week. Similarly, the number of transaction and number of share traded also declined by 26 per cent and 33 per cent respectively. However, analysts say that the stock market will rise next week as selling pressure in the market is low despite the decline in the index. This indicates that the demand for shares in the lower price is exceeding its supply, which is expected to boost the price in the near term. </div> <div> </div> <div> According to the turnover, shares of the Nepal Bangladesh Bank reached the top spot for the week in the market. Nabil Balance Fund-1, meanwhile, climbed to no one spot in terms of the number of units being traded for the week. Likewise, Nepal Telecom maintained its top spot in terms of market capitalization in the domestic market. </div> <div> </div> <div> Nepse index which opened at 787.36 points on the first day of weekly trading (Sunday) fell by around 16 points to close at 763.76 on the last day of the week (Thursday). Most of the sub-indices listed in the Nepse witnessed decline in their values last week. According to weekly transaction, the Hotel sub-index was the biggest gainer with a rise of 17.16 points. All other sub-indices followed downward trend. Last week, Hydropower sub-index was the biggest loser (82.05 points). Similarly, the sub-index of insurance sector fell 38.29 points followed by commercial banks (19.9 points), development banks (7.6 points), finance companies (2.45 points). Likewise, the ‘Other’ sub-index came down by 2.35 points. The Manufacturing sub-index remained unchanged as earlier weeks. The Sensitive Index which represents the share trading of blue chip stocks belonging to class ‘A’ listed companies fell 4.25 points last week. </div> <div> </div> <div> For the week, shares of 125 companies were traded in the stock market. Share prices of 26 companies observed a gain, while price of 73 companies declined last week. Shares prices of 26 companies remained unchanged over the period. </div> <div> </div> <div> <img alt="Nepse Index" src="/userfiles/images/indx%20(Copy)(2).jpg" style="width: 550px; height: 371px; margin-left: 10px; margin-right: 10px;" /></div>', 'published' => true, 'created' => '2014-01-06', 'modified' => '2014-01-19', '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 Stock Exchange Limited (Nepse) index, the barometer of country’s capital market dropped by almost 5.28 points on Sunday, the first trading day of the week. The bench mark index, which was closing at 763.76 on Thursday-- the last trading day of previous week settled at 758.48 points on Sunday. Following the Nepse, Sensitive index representing class ‘A’ listed companies in the secondary market, loses 1.39 points to settle at 169.56.', 'sortorder' => '2291', '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' => '2447', 'article_category_id' => '145', 'title' => 'Hydropower Development For Self-reliant Economy', 'sub_title' => '', 'summary' => null, 'content' => '<div> </div> <div> <strong>--By Dr Subarna Das Shrestha</strong></div> <div> </div> <div> Development of energy is a must if Nepal is to achieve economic prosperity. Energy development in Nepal’s context means none other than the development of hydroelectricity. Nepal’s journey of hydropower development is a century old. The country has been able to produce 718 MW of hydroelectricity over this period. Out of this, nearly 34 percent or 240 MW is being produced by the private sector. The Nepal government allowed the private sector to invest in hydropower through the enactment of the Hydroelectricity Act in 1992.</div> <div> </div> <div> Braving different difficulties, both the private and public sectors have been trying to increase investment in the hydroelectricity sector even in today’s transitional period. Projects worth 1,200 MW are under construction; out of this 28 projects of total capacity of 360 MW are being built by the private sector. Power purchase agreement (PPA) for projects worth nearly 500 MW being developed by the private sector has been done. These projects will enter the construction phase over the next two years and will start producing electricity over another five years. </div> <div> </div> <div> However, there are various problems in the hydropower sector. If we don’t tackle these problems in time, the current energy crisis will only deepen. The country is already reeling under long hours of load shedding. Several industries are faced with the risk of closure because of long load-shedding hours. If that happens, the unemployment figure will rise further. To improve the situation, we need to increase investment in hydropower. However, there will be no significant investment from either domestic or international investors in hydropower as long as an environment for investment security is not created.</div> <div> </div> <div> In order to encourage everyone to create a favourable investment environment for the hydropower sector, the Independent Power producers’ Association, Nepal (IPPAN) had organized the Power Summit 2013 on August 26-27. The summit was focused on four themes: internal investment for projects of internal consumption; external investment for projects of internal consumption; projects focused on external markets; and transmission lines, electricity trade mechanism and marketization. The discussion on these themes helped bring to surface the legal, social, financial and political problems marring hydropower development in the country.</div> <div> </div> <div> To increase investment in the hydropower sector, the first requirement is guarantee of good returns while signing the PPA itself. Second, there should be no obstacles after the project enters the construction phase. The process of issuing license must be eased. For this there should be a one-window policy; the Ministry of Energy should handle everything related to hydroelectricity. At present the situation is such that to seek license for one hydropower project, power producers have to visit 10 ministries and as many government departments. This is a big hassle for independent power producers and increases the cost of the project.</div> <div> </div> <div> The Nepali private sector is ever ready to assist the government in addressing these problems to create the environment of investment in the hydropower sector. If that happens, domestic investment will definitely increase while the country can attract foreign investment as well. However, foreign investors want to sign PPA in the currency of investment. The government should open the doors for an arrangement to sign the PPA in US dollar and make the payment accordingly. If this happens, we can produce the amount of energy we need within the country. Power transmission is another important aspect for which the government has already allocated a budget of Rs 13.5 billion. This step taken by the government is praiseworthy.</div> <div> </div> <div> The annual per capita consumption rate of electricity in Nepal at present is only around 100 units. Fifty percent of the population has no access to electricity at all. Let’s increase the per capita consumption of electricity by five times over the next one decade. We had raised this issue in the Power Summit as well. If we can produce more electricity than we need, the surplus electricity can be marketed in other countries of the region. It is for this reason that the concept of ‘SAARC Grid’ has been forwarded. Nepal will get the maximum benefit from such a regional grid. That’s why we should take the leadership for the construction of SAARC Grid.</div> <div> </div> <div> Rather than focusing on the cost of production of one unit of hydroelectricity, we should think about the loss to the total GDP caused by the non-production of one unit of electricity. A decision regarding 20 per cent post-PPA rate has already been taken by the Cabinet. But this decision is pending at Nepal Electricity Authority. The decisions taken by the government should be implemented. This will send out a good message to all domestic and foreign investors. Taking good decisions is important but implementing such decisions in time is even more important.</div> <div> </div> <div> NEA has a monopoly over hydroelectricity in Nepal. It’s high time we created separate companies for building transmission lines and electricity trade. Similarly, we should have wheeling system in place. In this system one has to pay rent for transmitting electricity through another transmission line. If these concepts are implemented, the private sector can share some of the burden of the NEA. The government has already committed to make these changes in the hydropower sector. What remains is their implementation.</div> <div> </div> <div> At last, the country’s economy cannot achieve a momentum without the development of the hydropower sector. The government and the private sector should join hands for the development of the hydropower sector. If we can do that, we will not only be self-reliant in hydropower but also will be able to export electricity to other SAARC nations. </div> <div> <em>(The author is the immediate past president of IPPAN.)</em></div>', 'published' => true, 'created' => '2014-01-19', 'modified' => '2014-01-19', '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' => 'Development of energy is a must if Nepal is to achieve economic prosperity. Energy development in Nepal’s context means none other than the development of hydroelectricity. Nepal’s journey of hydropower development is a century old. The country has been able to produce 718 MW of hydroelectricity over this period. Out of this, nearly 34 percent or 240 MW is being produced by the private sector. The Nepal government allowed the private sector to invest in hydropower through the enactment of the Hydroelectricity Act in 1992.', 'sortorder' => '2290', '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' => '2334', 'article_category_id' => '109', 'title' => 'Nepse Index Gained 92 Points Last Week Daily Average Turnover Rises 33 Percent', 'sub_title' => '', 'summary' => null, 'content' => '<div> </div> <div> <strong>--By Sanjeev Sharma</strong></div> <div> </div> <div> Nepal Stock Exchange (Nepse) index declined on Sunday by 9.51 points, indicating that the benchmark index of country’s capital market is making corrections after continuous rise of four weeks. On the first day of weekly trading, Nepse settled down at 796.14 points, retreating from last Friday’s closing of 805.65 points. On Sunday, a total of 1.99 million shares were traded through 4,220 transactions on Nepse with the total turnover recorded at Rs 771.67 million. The total market capitalization reached Rs 807 billion on the domestic stock market. The Hydropower sub-index was seen as the biggest loser with 40.06 points. Insurance sub-index emerged as the biggest gainer (31.11 points). The Banking sub-index also lost its footing (17.64 points) followed by Finance (8.62 points) and ‘Others’ (2.35 points). Meanwhile, sub-indices of Development Banks and Hotels gained 7.98 points and 13.27 points respectively. </div> <div> </div> <div> Nepse continued its winning streak last week as the benchmark index again witnessed double-digit gain. The index, which stopped at 713.92 points previous week, surged 91.73 points to reach a record high level of 805.65 points on Friday. Meanwhile, the daily average transaction amount at the index also went up by 32.75 per cent. The daily average transaction amount was recorded at Rs 526.70 million last week against Rs 396.70 million of previous week. </div> <div> </div> <div> Over the period of 15th December to 19th December, the number of trading at Nepse index totaled to 9,800 with 507.12 million shares worth Rs 2.10 billion being sold in the stock market. Last week, transaction volume increased by 6.19 per cent, compared to the previous week. The relatively small increment in transaction amount, however, was overshadowed by sharp rise in average transaction in Nepse which opened for four trading days last week. </div> <div> </div> <div> According to the turnover, shares of the Nepal Bangladesh bank topped the index. Meanwhile, Siddhartha Growth Scheme 1 reached the top spot in terms of the number of units being transacted for the week. Nepal Telecom maintained its top spot in terms of market capitalization. </div> <div> </div> <div> Nepse index, on the first day (Sunday) rose by 2.71 points to settle at 733.25 followed by the second day (Monday) gain of 5.18 points to close at 771.2. On Tuesday, the benchmark index did not resume its trading due to the public holiday. The surge in Nepse continued as it rose by 4.62 points on Wednesday to settle at record high level of 806.82. It was the best performance of the benchmark index since November 13, 2008 when Nepse reached 806.9 points. However, on the last day of weekly trading (Thursday), NEPSE shed 1.17 points to close at 805.65. As many analysts including the stock market officials and regulators warned the investors about vulnerabilities posed by the unnatural surge, the index was forced to made marginal correction. According to them, the continuous rise in Nepse after the second CA elections does not match ground realities and basic fundamentals of the market. </div> <div> </div> <div> Share trading of most of the trading sub-groups increased during the week. Hydropower sub-group was the biggest gainer with a rise of 148 points. Previous week’s biggest loser, the insurance sector gained traction this week as the sub-group achieved 107.93 points. Similarly, the sub-groups of commercial banks and hotel gained 92.39 points and 75.86 points respectively. Likewise, the ‘Other’ sub-group gained 56.38 points followed by Development Bank (18.09 points) and Finance Companies (13.47 points). The Sensitive Index which represents the share trading of blue chip stocks belonging to class ‘A’ listed companies went up by 17.14 points. Manufacturing and Trading sub-group remained same as earlier week. </div> <div> </div> <div> Shares of 130 companies were transacted during the week. 97 companies observed a gain, while shares price of 9 companies declined last week. Shares price of 24 companies remained unchanged over the period.</div> <div> </div> <div> <img alt="Index" src="/userfiles/images/INDEX.jpg" style="width: 550px; height: 304px; margin-left: 10px; margin-right: 10px;" /></div>', 'published' => true, 'created' => '2013-12-23', 'modified' => '2014-01-19', '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 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', 'sortorder' => '2289', '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' => '2445', 'article_category_id' => '202', 'title' => 'Zeal To Work', 'sub_title' => '', 'summary' => null, 'content' => '<div> </div> <div> <strong>--By TC Correspondent</strong></div> <div> </div> <div> Barsha Shrestha, Acting CEO of Clean Energy Development Bank defines herself as a very humble and hard working person. Shrestha enjoys her professional and personal life equally and therefore finds no difficulty in managing time for both. She considers her family as her biggest strength and shares that they are very supportive. “My husband and my children are very supportive, they appreciate my work and are very proud of me,” she said.She regards her parents as her inspiration and credits them for her present standing. Next to them, she finds Mother Teresa’s idealsvery muchinspirational.</div> <div> </div> <div> Shrestha wishes to spend maximum time with her family and in-laws. However, she hardly gets time to do due to her hectic professional schedules. She loves engaging herself in household activities like cooking, cleaning house, gardening and watching television. She is very fond of pickles and likes making variety of pickles in her spare time.</div> <div> </div> <div> She loves travelling and has visited various countries including the United States of America, Australia, France and Germany. She is fond of visiting exotic places and recalls her tripsto Myanmar and Cambodia as one of the most memorable trips.</div> <div> </div> <div> As a positive person she perceives life as a beautiful gift. Shrestha believes in respecting others for being happy in life. She says, “My motto in life is to be happy and true happiness can only be attained if we respect others”. She likes to spend most of her free time in socializing with different people. Shrestha feels proud to be part of the Nepali culture and thinks that Nepali culture has always taught her to respect and love others.</div> <div> </div> <div> As a socially active person she is involved with many organizations such as the Confederation of Nepalese Industries- Women Entrepreneurs and Professional Forum (CNI-WEPF). She is among the Board of Directors of Samriddhi Foundation and is also engaged in many other social activities. </div> <div> </div> <div> Shrestha likes reading economic news but has no interest in political issues. She has fascination towards music and watches many music reality shows on television. </div> <div> </div> <div> Shrestha believes poor time management as one of her weaknesses and sometimes finds trouble in prioritizing her work properly. She believes her staff and customers to be her biggest strength and is thankful towards them for trusting her.</div>', 'published' => true, 'created' => '2014-01-19', 'modified' => '2014-01-20', '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' => 'Barsha Shrestha, Acting CEO of Clean Energy Development Bank defines herself as a very humble and hard working person. Shrestha enjoys her professional and personal life equally and therefore finds no difficulty in managing time for both. She considers her family as her biggest strength and shares that they are very supportive. “My husband and my children are very supportive, they appreciate my work and are very proud of me,” she said.She regards her parents as her inspiration and credits them for her present standing. Next to them, she finds Mother Teresa’s idealsvery muchinspirational.', 'sortorder' => '2288', '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' => '2310', 'article_category_id' => '40', 'title' => 'New Nepali ‘Laissez Faire’ How Strong? How Long?', 'sub_title' => '', 'summary' => null, 'content' => '<div> </div> <div> </div> <div> The nation after its recently concluded historic polls for the next Constituent Assembly and Parliament registering 71% turnout, now expects liberal economy, business freedom, large-scale FDI and power generation, and employment promoting measures from the new Constitution and the government that comes ahead, as found by Prof Ujjwal K Chowdhury, after talking to several people from various walks of life.</div> <div> </div> <div> There is hope in the air. Seven out of every ten Nepalis on the voters’ list of Nepal have exercised their franchise. And, six out of every ten Nepalis who have voted have gone for centrist and liberal left political forces (Nepali Congress & CPN UML), while virtually rejecting the far left polls-boycotting so-called 33-party alliance, the radical left Maoists led by Prachanda, and the rightist regional forces of Madheshis and far right RPP forces.</div> <div> </div> <div> The message is clear. Enough of politicking, now make the polity firm and economy firmer. Create a business environment that is conducive to entrepreneurs, to foreign direct investment and to rapid employment generation.</div> <div> </div> <div> New Business Age interacted with several experts and noted people from various walks of life to ascertain the mood of the nation with regards to the economy of tomorrow.</div> <div> </div> <div> There is surely a high hope that the newly elected CA-Parliament will draft the new constitution that would introduce new economic policies that would propel the country toward the positive direction and we could witness the inevitable growth and development of the country coming with a stable economy. </div> <div> </div> <div> Eminent economist Rameshore Khanal, the former Finance Secretary sums up the spirit rightly, “The Constituent Assembly election results show parties contesting on conservative economic ideologies have been rejected by voters. Nepali Congress (NC), which is considered as a party having the most liberal economic policies, dominated the polls especially in urban areas across the nation. People expressed their aspirations and exercised their power during this election so as to set the progressive course for issues that matter them the most.”</div> <div> </div> <div> The defeat of the Maoists and the regional forces is also seen as the defeat of the federalist agenda. Khanal further notes, “In fact, business community was terrorized due to ethnicity-based federal agenda put forth by UCPN Maoist,” he said, adding that the recent poll results might have relieved the entire business community. More than 90 per cent businessmen do not want federalism based on ethnicity because they cannot do good business amid ethnic tensions. The entire business environment would be more volatile if political parties that favour regional and ethnic agenda had won the election”.</div> <div> </div> <div> Rightly does Kamlesh Kumar Agrawal, the General Secretary of Nepal Chamber of Commerce, observe, “Clear mandate for the centrist parties is a good sign indeed, and a major difference from the last CA election result. Now is the time for them to fulfill their promises of economic revolution or rapid development”.</div> <div> </div> <div> Shekhar Golchha, the President of Nepal Automobile Dealers’ Association, is visibly happy with the turnout, the peaceful polls and the results emerging out of the process. He is satisfied that while issues of federalism, sub-national identity etc found limited mention in election manifestos of most parties, the focus has rightly been on economic aspects and stability of the polity. </div> <div> </div> <div> Bhaskar Raj Rajkarnikar, the Senior Vice President of Federation of Nepalese Chambers of Commerce and Industry (FNCCI), is confident that the new Constitution shall finally be put in place in Nepal now. And the government shall now work firmly towards creating investment-friendly environment in the country. However, he also strongly espouses the need to have local governance bodies as well.</div> <div> </div> <div> <img alt="CA Election " src="/userfiles/images/cs1%20(Copy)(2).jpg" style="width: 550px; height: 209px; margin-left: 10px; margin-right: 10px;" /></div> <div> </div> <div> <span style="font-size:14px;"><strong>Common Minimum Economic Agenda</strong></span></div> <div> It would be pertinent to mention here that the five recent former Prime Ministers of Nepal (Madhav Nepal and Jhalanath Khanal of CPN UML, Sher Bahadur Deuba of Nepali Congress, and Pushpa Kamal Dahal and Dr Baburam Bhattarai of UCPN Maoist) came on the same platform of Nepal Leadership Summit created in Birgunj by the Birgunj Chamber of Commerce and Industry and New Business Age group, and at the end of their deliberations on Economic Growth Roadmap of Nepal for the next one decade, they had signed a 12-point Common Minimum Economic Agenda, which included several fundamental issues.</div> <div> </div> <div> The Declaration noted that the ratifying five leaders commit to give priority to the national economic agenda rather than their respective party agenda in national interests, and also to end the current uneasy industrial relations in favour of productivity, and bring in a new labour and industrial policy conducive to overall economic development. The leaders firmly were committed to individual property rights, the important role of the private sector in the economy, and to an environment to attract rapid FDI in Nepali industries.</div> <div> </div> <div> A sampling of the core issues taken up in the talks by these leaders: “Unhindered power supply is the pre-condition for economic development, in which the government should not run businesses, but just be the regulator,” Sher Bahadur Deuba; “Green economy the focus of economic development,” Madhav Nepal; “Agriculture, regional market and infrastructure development for economic prosperity,” Jhala Nath Khanal; “Foreign investment urgently required, and economic revolution with justifiable distribution must,” Dr Baburam Bhattarai; “Time for economic revolution, in which agriculture is the base, and production, construction and development going hand in hand,” Pushpa Kamal Dahal.</div> <div> </div> <div> Today, since three of these former PMs are the top leaders of the top two parties, Nepali Congress and CPN UML, getting support of above 50% of the voters who exercised their franchise, this itself can be the first corner-stone of economic policy-making of Nepal next.</div> <div> </div> <div> <img alt="CA Election Nepal" src="/userfiles/images/cs2%20(Copy)(1).jpg" style="width: 550px; height: 355px; margin-left: 10px; margin-right: 10px;" /></div> <div> </div> <div> <span style="font-size:14px;"><strong>Securing Private Property</strong></span></div> <div> </div> <table align="left" style="margin: 0px 10px 0px 0px;" width="25"> <tbody> <tr> <td> <img alt="Narottam Aryal, Educationist" src="/userfiles/images/cs3%20(Copy)(1).jpg" style="border-width: 0px; border-style: solid; width: 200px; height: 259px;" /></td> </tr> <tr> <td bgcolor="#DDDDDD"> <div align="center"> <div style="text-align: center;"> <div> <strong>Narottam Aryal</strong></div> <div> <em>Educationist</em></div> </div> </div> </td> </tr> </tbody> </table> <div> The first and the biggest concern is of security of private property and business.</div> <div> </div> <div> “The new constitution MUST acknowledge the role of private sector in the national development and ensure the property rights and should guarantee its security,” notes Narottam Aryal, an educationist leading the forum of Nepali colleges affiliated to foreign universities. </div> <div> </div> <div> Similar voice is echoed by the Manager (Business Development), Chaudhary Group, Roshee Lamichhane, “There is an urgent need to espouse and introduce economic reforms in Nepal with their principal focus on Private Property holding, freedom for entrepreneurial innovation, and abolishing cartel systems.”</div> <div> </div> <div> <span style="font-size:14px;"><strong>Employment Generation</strong></span></div> <div> Property rights apart, the next big concern is naturally of employment. </div> <div> </div> <div> According to Central Bureau of Statistics, the unemployment rate stands at an alarming 46 percent. The only ambition that most young people have is to leave Nepal and a couple of thousands of young people get on planes every day and fly to the Middle East, South East Asia, Europe and beyond to find jobs. However, there is a huge potential of jobs within the country itself. “To address this issue to a larger extent I believe private sectors should be promoted to play a vital role in the growth of national economy and in creating new employment opportunities as it is the only sector that remains the single largest employer,” notes Amit Giri, CEO of International Centre of Academics focused on the task of taking higher education through distance and online learning mode to working people of Nepal.</div> <div> </div> <div> <span style="font-size:14px;"><strong>Limiting Government Role in Business</strong></span></div> <div> A well-known axiom states that the business of government is not to do business. The government has to define in a very clear and precise terms the roles and responsibilities and limit of the state and roles of the private sector. </div> <div> </div> <div> Educationist Narottam Aryal of King’s College notes in this context, “I think that there is still a huge confusion on this front in Nepal. I think that the Government should limit itself to building infrastructure, creating maintaining legal institutions, maintain law and order and peace, and education and health. For the rest of the things the Government must create an enabling environment for the private sector. The new government must bring the programs to promote youth entrepreneurship with a special focus on agriculture and tourism.”</div> <div> </div> <div> <span style="font-size:14px;"><strong>Agriculture: the Mainstay of the Economy</strong></span></div> <div> Nepal is among the poorest and least developed countries in the world, with about one-quarter of its population living below the poverty line. Agriculture is the mainstay of the economy, providing a livelihood for three-fourths of the population and accounting for a little over one-third of GDP. Industrial activity mainly involves the processing of agricultural products, including pulses, jute, sugarcane, tobacco, and grain. Amit Giri calls for policies that allow agrarian credit, market forces to help develop agri-business and conducive environment ensured by the government for the same.</div> <div> </div> <div> <span style="font-size:14px;"><strong>Infra-structure Leap: Backbone for Industrialization to follow</strong></span></div> <div> </div> <table align="left" style="margin: 0px 10px 0px 0px;" width="25"> <tbody> <tr> <td> <img alt="Bijay Rajbhandary, Managing Director CE Construction Pvt Ltd" src="/userfiles/images/cs4%20(Copy)(1).jpg" style="border-width: 0px; border-style: solid; width: 200px; height: 223px;" /></td> </tr> <tr> <td bgcolor="#DDDDDD"> <div align="center"> <div style="text-align: center;"> <div> <strong>Bijay Rajbhandary</strong></div> <div> <em>Managing Director</em></div> <div> <em>CE Construction Pvt Ltd</em></div> </div> </div> </td> </tr> </tbody> </table> <div> “Infrastructure development is a basic tool to upgrade the country’s economic activities, hence there has to be special policies to accelerate the development activities. Real Estate sector, despite its significant contribution in country’s economy is highly fragmented and disorganized. Hence, in order to strengthen this sector, it should be treated as an industry and proper norms and policies should be formulated protecting the interest of this industry, Policies need to be introduced for allowing the foreigners to buy apartments in Nepal with $ 100,000 ceiling but through foreign currency to help boost foreign currency reserves in Nepal,” notes Bijay Rajbhandary, the Managing Director of CE Constructions, a leading realtor of Nepal. </div> <div> </div> <div> It is worthwhile to note that though more than 10,000 kms of roads have been blacktopped, at least another 10,000 kms need to be done so out of the 40,000 kms of graveled roads to help push business through ground transport.</div> <div> </div> <div> <span style="font-size:14px;"><strong>Power Surplus Nepal</strong></span></div> <div> Former Finance Secretary, Rameshore Khanal, is bang on, when he says, “New government should focus on power generation to boost the production since the overall productivity of the country has been affected due to the condition of power deficit. Also, new government should immediately forward some laws related to economy including banking, electricity, industries among others and it should bring special measures to attract more foreign direct investment.”</div> <div> </div> <div> Bijay Rajbhandary echoes the same spirit when he says, “Needless to mention, our country is reeling under the acute energy crisis, and in the light of the fact that Nepal has the capacity to generate hydropower sufficient to export, apart from internal consumption, there has to be some special arrangement from the government side to ensure that such projects are protected from any kind of hindrances, be that political or social.”</div> <div> </div> <div> A nation with more than 80,000 MW of hydel power producing capacity, and with immense solar and biomass power resources, has less than 1000 MW of installed capacity. Nothing can be a larger wastage of resources than this, indeed.</div> <div> </div> <div> “Power Surplus Nepal movement, engulfing enabling policy-making by the government, active domestic and foreign direct investment in this sector, a pro-active media influencing public opinion towards it and a dynamic bureaucracy, has to be the primary national mission today,” notes journalist Janardan Baral.</div> <div> </div> <div> <span style="font-size:14px;"><strong>Investments: Domestic and Foreign</strong></span></div> <div> “There are lots of investments currently held up with the hope of much anticipated stability. The election result clearly embraces free market economy and has rejected federalism based on ethnic provinces (showing inclination towards economic development). Militant workers’ union affiliation is assumed weakened that gives hope for local industries that have suffered over a decade. I have reasons to hope these foundations will be addressed in the Constitution. I hope the government will vigorously implement promises, focus on stability, invest in infrastructure and recoup the lost decade of dark era. All this will boost investor confidence that will take the country to a much awaited, rather needed, growth trajectory,” notes Managing Partner of Mathema + Partners, an architectural firm Ajaya Mathema.</div> <div> </div> <div> Taking the discourse to the policy level, Bijay Rajbhandary says, “ We need clear-cut policy for Foreign Direct Investment in Nepal that would allow a good influx of foreign capital along with their expertise that would create a good development as well as job opportunities within Nepal. Likewise, we also need a policy allowing Nepali investment in foreign land in order to explore and exploit the growth opportunities present in those countries.”</div> <div> </div> <div> <span style="font-size:14px;"><strong>Educated, Trained Nepal</strong></span></div> <div> “A major focus in the new Nepal should be on providing free and quality primary and secondary public education to all as the research shows that access to secondary education (grades 9-12) remains a major challenge, as evidenced by the disturbingly low net enrollment rate of 24 percent at this level. More than half of primary students do not enter secondary schools, and only one-half of them complete secondary schooling. In addition, fewer girls than boys join secondary schools and, among those who do join, fewer complete the 10th grade. Girls should be encouraged more to study as I believe that when a girl gets educated a family gets educated and when a family gets educated the society gets educated. Hence, the country gets educated. Alongside, to make higher education accessible at every Nepali, liberalization of the education sector leading to more and private Universities and even Distance and Open Learning Universities need to be allowed by the government changing the current policy regime in this context,” notes Amit Giri.</div> <div> </div> <div> Focusing on systemic changes within the sphere of public education in Nepal, Bijay Rajbhandary notes, “Education sector must be secluded from any kind of political interference at all levels. Besides, teaching methodologies also need to be amended giving more emphasize on general and practical knowledge and skill development rather than making it exam focused”.</div> <div> </div> <div> <span style="font-size:14px;"><strong>Media & Entertainment Sector</strong></span></div> <div> Narayan Puri, noted film-maker and the CEO of Himalaya TV, speaking on expectations of the entertainment sector, says, “We’ve been waiting for development in our industry as well. There must be given soft loan for this industry in low interest, which can happen if this sector is recognized formally as an industry by the government. We need electricity facilities as other normal industries. Further, the owners of entertainment enterprises are often been made hostage by the workers on minor issues and no security is provided for the investors. There has to be strict policy in this regard. This is largely a non-profit business as well as social awareness and information providing business. And, hence, the government should provide subsidy for this business. Different new technical equipments are required in this business so government must tax rebates in this sector. Any kind of media which gives awareness and information to the public about education, public health, etc must be encouraged by the government.”</div> <div> </div> <div> <span style="font-size:14px;"><strong>Tourism Promises</strong></span></div> <div> “With Nepal having abundant scenic beauty is already attracting many tourists from across the world but there could be an added milestone in this line with some development in tourism sector by adding Health tourism and Religious Tourism in the existing portfolio,’ Bijay Rajbhandary notes.</div> <div> </div> <div> With airborne tourists still less than a million in Nepal, and per capita spending of tourists coming below USD 40 a day, there is a long way to go indeed. Power supply, better infra-structure, better hygiene, new destinations, integrated promotion of Nepal tourism in select markets with focus on digital communication, along with enabling policy encouraging FDI in tourism as well from the government end will help make Nepal move higher from the current 112th position in world tourism revenues of nations.</div> <div> </div> <div> Rightly does Ashok Pokharel, the President of Nepal Association of Tour Operators, say, “Peace, security and physical infra-structure are the hall-marks of rapid tourism growth.” Buddhist centre of Lumbini and leading Himalayan destination Pokhara surely need international air connectivity, while Kathmandu needs faster upgradation of road infrastructure. </div> <div> </div> <div> <span style="font-size:14px;"><strong>The Last Word</strong></span></div> <table align="right" style="margin: 0px 0px 0px 10px;" width="25"> <tbody> <tr> <td> <img alt="Roshee Lamichhane, Manager, CG" src="/userfiles/images/cs5%20(Copy)(1).jpg" style="border-width: 0px; border-style: solid; width: 200px; height: 224px;" /></td> </tr> <tr> <td bgcolor="#DDDDDD"> <div align="center"> <div style="text-align: center;"> <div> <strong>Roshee Lamichhane</strong></div> <div> Manager, CG</div> </div> </div> </td> </tr> </tbody> </table> <div> “I favour national consensus government should be formed for stability in the political arena”, says Rameshore Khanal. And the national consensus government can be created only by bringing the top two largely centrist parties closer, rather together, in their mission, Nepali Congress and CPN UML, he adds.</div> <div> </div> <div> CG Manager Roshee Lamichhane, a representative young voice, notes, “New government should therefore ensure that the benefits of economic growth and development are not going to be cornered away by few influential people and businessmen or politicians but are going to be conferred among the masses and the new political regime operates the economy to make it become and remain vibrant with employment opportunities and marketable surplus. I can only envision an ever growing economy wherein the government can satisfy the Nepal’s appetite for good food, well served, at a price that even common man can afford.”</div> <div> </div> <div> Taking the discussion to another level, Ajaya Ghimire, Chairman, Ace Institute of Management, says, “I do hope however that a constitution will be written within two years. It will embrace periodic elections allowing people to choose who will govern the state. It will also embrace freedom of expressions and freedom of economic activity and constitutional right of the individual against state oppressions. But for people to truly experience those rights and freedom, we will have to wait for our society to evolve from its present feudal mindset.” Prophetic, quintessential aspiration of the moment.</div>', 'published' => true, 'created' => '2013-12-20', 'modified' => '2014-01-19', 'keywords' => 'new business age cover story news & articles, cover story news & articles from new business age nepal, cover story headlines from nepal, current and latest cover story news from nepal, economic news from nepal, nepali cover story economic news and events, ongoing cover story news of nepal', 'description' => 'The nation after its recently concluded historic polls for the next Constituent Assembly and Parliament registering 71% turnout, now expects liberal economy, business freedom, large-scale FDI and power generation, and employment promoting measures from the new Constitution and the government that comes ahead, as found by Prof Ujjwal K Chowdhury, after talking to several people from various walks of life.', 'sortorder' => '2287', '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' => '2356', 'article_category_id' => '145', 'title' => 'Nepal-India Relations Funding Hopes', 'sub_title' => '', 'summary' => null, 'content' => '<div> </div> <div> <strong>--By Madan Lamsal</strong></div> <div> </div> <div> In Nepal-India relations, clichés like ‘Multidimensional and multifarious’, ‘age old’, ‘special’, ‘historical’, ‘unique’ as well as ‘complex’ may all be true, but in reality it could be all of them combined and yet far short to encompass the entirety of this relationship. No adjective perhaps can truly reflect and represent the kind of relations that these two sovereign countries enjoy, cherish, and also despise to some extent. We have mutual trust and distrust, expectations and apprehensions, and interests and concerns, all in the same basket. Therefore, it is but natural to have hiccups, highs and lows of warmth that needed calibration, more often than not.</div> <div> </div> <div> With changing time and technology, however, more focus of these relations is being gradually condensed into two prime areas -- economic issues and security concerns. Nepal has economic concerns and security interests, and India has economic interests and security concerns, of course, with some degree of variance in interpretations. At least, it appeared so during the interactions of high officials and think tanks in India with over a dozen visiting Nepali editors of mainstream print media from Kathmandu.</div> <div> </div> <div> <span style="font-size:14px;"><strong>Trade and investment</strong></span></div> <div> Nepal is net importer, which constituted 1.03 percent of India’s US$300 billion global export in the last FY (2012/13). More than 60 per cent of Nepal’s international trade– both exports and imports – takes place with India. The concern is: Nepal’s trade deficit with India reached close to US$ 3.49 billion (2012/13) in the last fiscal year. And worse, the trade gap has been widening over the years as Nepal’s export items are fast losing both comparative and competitive advantages in the Indian market. In addition to being Nepal’s largest trade partner, India is also among the countries that have the largest foreign direct investment (FDI) and tourists coming to Nepal.</div> <div> </div> <div> But, interestingly, India didn’t seem to recognize the importance of such a big instant export market next door. Some of its policy makers like to view remittances to Nepal by the Nepalis working in India as the compensation to such whopping gap in trade balance. As Salman Khurshid, External Affairs Minister of India had said during the interaction with the editors, ‘Remittance that Nepal is receiving from India is helping balance the trade deficit between India </div> <div> and Nepal.’</div> <div> </div> <div> But remittance, by its very nature, is a different issue altogether. Several thousand Nepalis work in Indian security forces and far larger number of Nepalis work for low-paying informal sundry jobs in private homes, offices and roadside tea shops. The low paid people are in fact helping to retain the low output cost in Indian economy, thereby helping to contain inflation and maintain the country’s competitive edge. If the compensation argument is extended to the non-merchandise goods, the outflow of money from Nepal to India for education and health services could easily be comparable to the amounts of remittance inflows. It appeared during the discussions with the visiting journalists that these differences in perceptions, both on trade and remittance warrant an immediate streamlining to make them relate to reality.</div> <div> </div> <div> On investment, Indian investment to Nepal, particularly in recent years, has not been to the level of its potentials. The ‘level’ may be a relative term but not a subjective assumption here. In view of the recent and rather exponential increase of Indian FDI to other foreign countries, Nepal’s highly untapped areas for investment like clean energy and its proximity to Indian markets could have attracted much more FDI projects than it is the case now.</div> <div> </div> <div> But, as rightly pointed out by the Indian business community, problems lie on this side of the border as well. We have our own demand-side constraints -- prolonged political instability, pseudo-nationalism, lack of political will to decide. Indecision has become a culture. The worst of all, our political leadership doesn’t realize the fact that the country is lagging behind due to all these malaises. “Indian investment in Bhutan and Sri Lanka is increasing because these countries have political stability. On the other hand, Afghanistan and Nepal lack it,” said Sushanta Sen, Principle Advisor for the Confederation of Indian Industries (CII).</div> <div> </div> <div> “To attract foreign investment, Nepalis first need to invest in their own country. Rigidities in labour laws and outsourcing problems are also some of the issues that are hindering Indian investors to invest in Nepal,” he added. </div> <div> </div> <div> Very slow, punctuated progress through the bureaucratic channels in projects like Upper Karnali to be developed by the Indian energy major GMR, is often repeated example in power corridors of New Delhi as the reasons to Nepal’s inability to attract Indian investment. Though a little different story, the problems faced by United Telecom Limited (UTL) has also irked the potential Indian investors. Also, even the Indian business community feels that Nepal has not been able to convey the message that the majority of Indian companies now operating in Nepal are doing very well.</div> <div> </div> <div> In every respect, each South Asian nation has some expectations from India. One of such expectations from India’s neighbours is the revival of the Gujaral Doctrine, initiated by the Late Indian Prime Minister Inder Kumar Gujaral in the mid 1990s. The doctrine proposed that India wouldn’t seek reciprocity with neighbours like Nepal but would help them through all means it could in good faith and trust. </div> <div> </div> <div> <div> But for India, the country projected to be the third largest economy of the world over the next 15 years or so, it is certainly not easy to meet all the expectations of its neighbours. Naturally, India has its commitments beyond the region. “India has to fulfill its commitments already made for Africa, Sri Lanka, Bangladesh and Maldives,” said Khurshid. These commitments range from cultural and educational scholarships to financial and technical support for development. “There is equally huge commitment elsewhere as well for FDI,” Sen of CII echoed Minister Khurshid, in a different meeting. “Once the new government is formed [in Nepal], more investment is likely to flow from India to Nepal,” hoped Sen. </div> <div> </div> <div> Isn’t BIPPA with Nepal a milestone? In theory, Indian business community agrees that it is a great achievement, but in practice, everybody is keen to first test the ground realities. </div> <div> </div> <div> <span style="font-size:14px;"><strong>The China Factor </strong></span></div> <div> In viewing China, the Indian perspective is apparently dichotomous between the so called new and old schools of thought. The new school of thought believes that there is no alternative to having the best possible relations with China. Today, China is one of India’s largest trade partners. In the last fiscal year, 11 percent of India’s imports and six percent exports were with China. The Indian concern at present is the growing trade deficit with China which stood at nearly $ 47 billion in 2012/13. As both countries are members of the BRIC group of emerging economies, their trade volume is bound to grow. Indian Prime Minister Manmohan Singh’s visit to China last October has proposed a new trade corridor of Bangladesh-China-India-Myanmar (BCIM). “The corridor will surely release enormous growth energy and provide new vitality for the Asian economic integration and global growth,” Chinese Foreign Minister Wang Yi was quoted on this issue some time ago. Nepal here missed the boat to be in this group, for whatever reason. The new reality is: India and China are becoming closer than ever before, where Nepal has very little influence on the process.</div> <div> </div> <div> But the old school in India is still apprehensive about the “increasing activities of China in Nepal”. They have problems with Nepal willing to maintain the policy of equi-distance with India and China. TP Sreenivasan, Director General of Kerala International Centre (a think tank) clearly said that Nepal cannot have the same relation with China as with India. “How can somebody marry with one and try to maintain similar kind of relation with another?” he questions. But in diplomacy, relations between two countries are not like a marriage. </div> <div> </div> <div> For reasons of geographical, cultural and historical proximities, Nepal may appear more tilted to India, but at the policy level it is rather naive to expect sort of surrendered tilt at the cost of what is called balanced diplomacy.</div> <div> </div> <div> India’s major concern is, understandably, security and it doesn’t want any threat to security to come from across the border. Ashok K Behuria, Coordinator of the Delhi-based Institute for Defense Studies and Analyses, claimed that there is an anti-social element in Nepal especially in the Madhesh region which has been fuelling anti-India feelings in the Himalayan nation. Indian authorities and policy analysts are also concerned over the growing number of Madarsa schools along the bordering areas such as Nepalgunj. They think that such Madarsas might be used by extremist religious elements for activities that are hostile to India and things can go wrong. Madarsas could also create problems for Nepal in the future, they add. </div> <div> </div> <div> <span style="font-size:14px;"><strong>Nepal’s Political Roadmap</strong></span></div> <div> Like in Nepal, in India too, there is general happiness over the successful completion of the second CA election in November and hope that Nepal’s new constitution will now be written. The Indian politicians as well as top bureaucrats have hailed the high voters’ turnout in the election. They were not mincing words to praise the Nepali people, the Election Commission, security agencies and all other stakeholders for holding the election successfully. Foreign Minister Khurshid and Indian Foreign Secretary Sujatha Singh remarked that the election was ‘historic’ and expressed hope that Nepal would now get the new constitution on time. They also urged all political parties in Nepal, including the UCPN (Maoist) to respect the people’s verdict and work together to draft the new Constitution. However, they also cautioned that the issue of making the new constitution should not overshadow the issue of peace and development which is no less important.</div> <div> </div> <div> On the issue of federalism, the Indian establishment has clearly said that Nepal can have its own model of federal structure as decided by the people of Nepal. This sentiment was echoed at the luncheon meeting with the Indian media where former ambassadors to Nepal Jayanta Prasad, Shiv Shankar Mukherjee, and Deb Mukherjee, among others, were present. Their collective view was that India doesn’t want to impose any federal model on Nepal. In fact, the advice was not to follow the flawed Indian model of carving out newer States incessantly. They also remarked that Nepal is moving forward in the right political direction. </div> <div> </div> </div> <div> <em>(Lamsal is the Chairman and Editor-in-Chief of New Business Age Pvt Ltd.)</em></div>', 'published' => true, 'created' => '2013-12-30', 'modified' => '2014-01-19', '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' => 'In Nepal-India relations, clichés like ‘Multidimensional and multifarious’, ‘age old’, ‘special’, ‘historical’, ‘unique’ as well as ‘complex’ may all be true, but in reality it could be all of them combined and yet far short to encompass the entirety of this relationship. No adjective perhaps can truly reflect and represent the kind of relations that these two sovereign countries enjoy, cherish, and also despise to some extent. We have mutual trust and distrust, expectations and apprehensions, and interests and concerns, all in the same basket. Therefore, it is but natural to have hiccups, highs and lows of warmth that needed calibration, more often than not.', 'sortorder' => '2286', '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' => '2316', 'article_category_id' => '91', 'title' => 'Muktishree’s Investment Plan', 'sub_title' => '', 'summary' => null, 'content' => '<div> <img alt="Muktishree" src="/userfiles/images/MN1.jpg" style="float: right; margin: 0px 0px 0px 10px; width: 200px; height: 139px;" />Muktishree Pvt Ltd has come up with an assertive plan of injecting a total of Rs 23.5 billion in various ambitious projects. The company has also targeted to create a total of 10,000 jobs through the investment. Currently, it has provided employment opportunity to around 1,500 people. </div> <div> </div> <div> Chairman of Muktishree Pvt Ltd Ajeya raj Sumargi on Sunday unveiled the business diversification plan of the company. According to him, hydropower, hotel and cement industry are new areas of investment of the company. It has already involved in telecom and drinking water business. </div> <div> </div> <div> The company has already invested in various projects including Hetauda Mines Industry, Everest Minerals Products, Durga Cold Storage, Himalayan Spring Water, Inco Panel Industries, Hetauda Education Foundation, National College of Higher Education and Yeti Development Bank. </div>', 'published' => true, 'created' => '2013-12-23', 'modified' => '2014-01-10', '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' => 'Muktishree Pvt Ltd has come up with an assertive plan of injecting a total of Rs 23.5 billion in various ambitious projects. The company has also targeted to create a total of 10,000 jobs through the investment. Currently, it has provided employment opportunity to around 1,500 people.', 'sortorder' => '2285', '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
Warning (2): simplexml_load_file() [<a href='http://php.net/function.simplexml-load-file'>function.simplexml-load-file</a>]: I/O warning : failed to load external entity "" [APP/View/Elements/side_bar.ctp, line 133]file not found!Code Context// $file = 'http://aabhiyan:QUVLg8Wzs2F7G9N7@nepalstock.com.np/api/subindexdata.xml';if(!$xml = simplexml_load_file($file)){$viewFile = '/var/www/html/newbusinessage.com/app/View/Elements/side_bar.ctp' $dataForView = array( 'articles' => array( (int) 0 => array( 'Article' => array( [maximum depth reached] ) ), (int) 1 => array( 'Article' => array( [maximum depth reached] ) ), (int) 2 => array( 'Article' => array( [maximum depth reached] ) ), (int) 3 => array( 'Article' => array( [maximum depth reached] ) ), (int) 4 => array( 'Article' => array( [maximum depth reached] ) ), (int) 5 => array( 'Article' => array( [maximum depth reached] ) ), (int) 6 => array( 'Article' => array( [maximum depth reached] ) ), (int) 7 => array( 'Article' => array( [maximum depth reached] ) ), (int) 8 => array( 'Article' => array( [maximum depth reached] ) ), (int) 9 => array( 'Article' => array( [maximum depth reached] ) ), (int) 10 => array( 'Article' => array( [maximum depth reached] ) ), (int) 11 => array( 'Article' => array( [maximum depth reached] ) ), (int) 12 => array( 'Article' => array( [maximum depth reached] ) ), (int) 13 => array( 'Article' => array( [maximum depth reached] ) ), (int) 14 => array( 'Article' => array( [maximum depth reached] ) ) ), 'current_user' => null, 'logged_in' => false ) $articles = array( (int) 0 => array( 'Article' => array( 'id' => '2458', 'article_category_id' => '140', 'title' => 'NC To Elect Its Parliamentary Leader', 'sub_title' => '', 'summary' => null, 'content' => '<div> Nepali Congress (NC) has decided to conduct election of its parliamentary leader. NC’s central committee meeting on January 18 took the decision to form a three-member election organizing committee led by party spokesperson Dilendra Prasad Badu. </div> <div> </div> <div> The other two members of the committee are central Ramesh Rijal and Ramchandra Tiwari.</div> <div> </div> <div> NC President Sushil Koirala, Senior Leader Sher Bahadur Deuba and Vice President Ramchandra Poudel are contesting for the post of the party’s parliamentary party (PP) leader. The PP leader will be named as the NC’s candidate for the post of prime minister.</div> <div> </div> <div> Among the top three leaders, NC President Koirala has relatively strong grip inside the party. Despite this, the election is going to be held in order to demonstrate a democratic practice inside the party, it is learnt.</div>', 'published' => true, 'created' => '2014-01-20', 'modified' => '2014-01-20', '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' => 'Nepali Congress (NC) has decided to conduct election of its parliamentary leader. NC’s central committee meeting on January 18 took the decision to form a three-member election organizing committee led by party spokesperson Dilendra Prasad Badu.', 'sortorder' => '2299', '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' => '2456', 'article_category_id' => '139', 'title' => 'Nepal And The World News In Brief (20 - 26 January 2014)', 'sub_title' => '', 'summary' => null, 'content' => '<div> <span style="font-size:14px;"><strong>Deutsche Bank Quits Gold Price Setting</strong></span></div> <div> Deutsche Bank AG is pulling out of the process for setting gold and silver benchmarks, a move that comes as regulators investigate possible manipulation of precious-metals prices. Deutsche, one of five banks involved in the twice-daily gold fix for global price setting, said Friday it was dropping out of the process after withdrawing from the bulk of its commodities business. </div> <div> </div> <div> <span style="font-size:14px;"><strong>Intel to cut over 5,000 jobs</strong></span></div> <div> Chipmaker Intel said Friday it plans to reduce its global workforce by over 5,000 people over the next year. The company says the cuts are in response to “evolving market trends.” Intel said it will trim about 5% of its 107,600 global workforce by the end of 2014 -- 5,380 jobs.</div> <div> </div> <div> <span style="font-size:14px;"><strong>Time Warner Rejects Charter’s $60bn bid as ‘ Grossly Inadequate’</strong></span></div> <div> Time Warner Cable has rejected a $60bn bid from rival, Charter Communications, saying the offer price was “grossly inadequate”. Charter had offered $132.50 a share, with $83 of that in cash and the rest in its own stock, to buy the firm. It said it was going public with its offer because of a lack of interest from Time Warner’s management in its efforts to purchase the firm. But Time Warner said Charter was trying to buy it for a “bargain” price.</div> <div> </div> <div> <span style="font-size:14px;"><strong>HSBC Suspends Currency Traders</strong></span></div> <div> British multinational bank HSBC has suspended two London-based foreign exchange traders as an investigation into the possible rigging of global currency dealing deepens. Others being investigated include Citigroup, JP Morgan, Barclays, UBS and Deutsche Bank.They are working with UK regulators to ascertain whether traders worked together to rig global currency values. The market is worth more than $5 trillion dollars a day.</div> <div> </div> <div> <span style="font-size:14px;"><strong>US Homebuilding Dips, but Year Best Since ‘07</strong></span></div> <div> U.S. home construction slowed in December but ended 2013 with the best showing since the housing bubble burst. The Commerce Department said Friday that builders broke ground last month at a seasonally annual rate of 999,000. That’s 9.8 percent lower than November’s pace of 1.12 million, which was the fastest in five years. </div>', 'published' => true, 'created' => '2014-01-20', 'modified' => '2014-01-20', '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' => 'Deutsche Bank AG is pulling out of the process for setting gold and silver benchmarks, a move that comes as regulators investigate possible manipulation of precious-metals prices. Deutsche, one of five banks involved in the twice-daily gold fix for global price setting, said Friday it was dropping out of the process after withdrawing from the bulk of its commodities business.', 'sortorder' => '2298', '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' => '2455', 'article_category_id' => '138', 'title' => 'Ambassador Bodde Lays Foundation Stone For New Airport Rescue Station', 'sub_title' => '', 'summary' => null, 'content' => '<div> US Ambassador Peter W. Bodde and Secretary of Ministry of Culture, Tourism and Civil Aviation Sushil Ghimire jointly laid the foundation stone for the new seismically safe Crash Rescue and Fire Station Building at Tribhuvan International Airport on January 16, Thursday. The US government is providing assistance totaling USD 462,000 to build a new station and make it resistant to earthquakes. According to a press statement by the US embassy in Kathmandu, the work is part of a larger effort to improve critical infrastructure that will allow the airport to remain open if a major earthquake were to occur. The foundation laying was marked by the 16th annual Earthquake Safety Day. </div> <div> </div> <div> In his remarks Ambassador Bodde said, “Two of my goals as the U.S. Ambassador are to support economic growth and reduce disaster risk in Nepal. Ultimately, we want to plan and prepare in a way that will save lives and destruction of property, lessen the impact of a disaster, and shorten the time of recovery."</div>', 'published' => true, 'created' => '2014-01-20', 'modified' => '2014-01-20', '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' => 'US Ambassador Peter W. Bodde and Secretary of Ministry of Culture, Tourism and Civil Aviation Sushil Ghimire jointly laid the foundation stone for the new seismically safe Crash Rescue and Fire Station Building at Tribhuvan International Airport on January 16, Thursday. The US government is providing assistance totaling USD 462,000 to build a new station and make it resistant to earthquakes. According to a press statement by the US embassy in Kathmandu, the work is part of a larger effort to improve critical infrastructure that will allow the airport to remain open if a major earthquake were to occur. The foundation laying was marked by the 16th annual Earthquake Safety Day.', 'sortorder' => '2297', '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' => '2451', 'article_category_id' => '122', 'title' => 'Kedia Organisation Re-defining Diversity', 'sub_title' => '', 'summary' => null, 'content' => '<div> </div> <div> <strong>--By TC Correspondent</strong></div> <div> </div> <table align="right" style="margin: 0px 0px 0px 10px;" width="25"> <tbody> <tr> <td> <img alt="Manoj Kedia, Executive Director, Kedia Organization" src="/userfiles/images/sp1.jpg" style="border-width: 0px; border-style: solid; width: 200px; height: 221px;" /></td> </tr> <tr> <td bgcolor="#FFFFFF"> <div align="center"> <div style="text-align: center;"> <div> <strong>Manoj Kedia</strong></div> <div> <em>Executive Director</em></div> <div> <em>Kedia Organisation</em></div> </div> </div> </td> </tr> </tbody> </table> <div> Kedia Organisation, a multi-million business conglomerate is not only one of the largest business houses in Nepal but also one of the oldest. The business house has diversified itself into agriculture, dairy, banking, trading among other industries without leaving a bit of the manufacturing sector that the group is focused on.</div> <div> </div> <div> Kedia Group is a well-known name in the cement, carpet and sugar industry. Manoj Kedia, Executive Director of the organisation says that his group has recently started manufacturing PVC carpet and is soon upgrading production capacity of Indusankhar Sugar Mill, one of Nepal’s oldest and leading sugar factories.</div> <div> </div> <div> It is an established name in the service industry. With some significant investment in this sector the business house is major promoter of Siddhartha Insurance, Siddhartha Capital and Siddhartha Bank and apart from that has been running several schools and hospitals in various parts of the country. </div> <div> </div> <div> The group has not limited itself with the sectors it has proven expertise in. It is continuously expanding. As part of its expansion plan, the group has made some investments in the housing and hydropower sector. Stating these investments to be insignificant, Kedia says that they are mainly made with a motive to get acquainted with these sectors.</div> <div> </div> <div> <span style="font-size:14px;"><strong>Hydro Interests</strong></span></div> <div> The power shortage has taken its toll on the industrial sector. And, Kedia Organisation is not an exception. Therefore, the group has lately made investments in hydropower generation. Kedia explains the groups’ logic behind its involvement in energy sector, “Power deficit is a national problem and it is obvious that major business houses want to engage in the power generation business as they are incurring heavy losses due to it.” With the growing demand for energy and high market potentials, energy has become a lucrative industry.</div> <div> </div> <div> Kedia says that the group has not made substantial investment in the energy sector as of now. “We have invested as shareholder in this sector to study the sectoral behaviour,” he says. He further adds that the country needs friendly laws and policies to attract FDI in the energy sector terming it to be a capital-intensive.</div> <div> </div> <div> <span style="font-size:14px;"><strong>Service and Trade Focus</strong></span></div> <div> The service and trading sector has lured a lot of business houses to divert from their traditional specialisation in manufacturing. They feel that it is difficult for manufacturing sector to prosper due to power shortage, open import of cheap goods from India and China. Kedia feels that it is extremely difficult for Nepali companies to compete with imported products in terms of cost. This is one of the reasons for the Kedia Organisation to diversify its portfolio into the service and trading businesses. Kedia adds, “Lack of skilled and productive manpower, unfriendly labour environment and decrease in agricultural production has triggered increase in imports of agro products. These are other factors that are affecting the growth of the manufacturing industries in Nepal and discouraging investors to invest in manufacturing sectors.”</div> <div> </div> <div> <span style="font-size:14px;"><strong>Agro Player</strong></span></div> <div> Kedia Group is one of the key players in the agriculture and food processing industry. The group is involved in agro-based industries with half a dozen companies that process and produce various food products such as rice, flour, lentils and sugar. Mahabir Adhunik Dal Udyog is one of the oldest manufacturing units in the lentil industry with a working history of more than 75 years. This unit recently upgraded its production capacity to 96 metric tonnes per day. </div> <div> </div> <div> Along with producing agro-based products, the group is trying to create backward linkages with the farmers. Kedia says that the group has been regularly coordinating with farmers that it deals with. “We regularly provide them with various skill-based trainings and loans. We have set up a sugar mill in Sarlahi district, country’s major sugarcane-growing centre, 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,” he said.</div> <div> </div> <div> <span style="font-size:14px;"><strong>Five Years Later</strong></span></div> <div> With the changing political environment, business houses have found reasons to be optimistic about the future. Kedia says that his group is not only hopeful about the probable growth of his business but also looks forward for growth in the overall development of the country.</div> <div> </div> <div> The group has plans to diversify its business involvements. Kedia reveals that his group will be engaged 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,” he says.</div> <div> </div> <div> <div> <hr /> <p style="text-align: center;"> <strong style="font-size: 16px;">The Rise of Kedia Organisation</strong></p> </div> <div> Kedia Organisation was established in 1909 as an evolution of the family owned trading business. The Kedia family started its business as a cloth merchant with stores in Birgunj and Kathmandu that selling imports from India. With the initiation and leadership of Brij Lal Kedia, first generation businessperson of the family, the business gradually expanded into food grains trading. It started small but as time progressed, it expanded across Nepal. Manoj Kedia, Executive Director of Kedia Organisation, narrates, “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> 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. Kedia says that during that time, the steel, textile, and corrugated sheet industries from Kedias were pioneers in their respective fields. They then became the backbones of the present day Kedia Organisation. At the same time, the group also entered in general merchandising sector by importing goods from third countries and bulk-traded them in local market. Imported goods included clothes, electronics, food items, medical equipment, household products, hardware, cement, sugar, and edible oil among others. Meanwhile the company also exported rice to Tibet and pulses and lentils to Sri Lanka, Bangladesh and to some European countries. </div> <div> </div> <div> Similarly, the group established Caltex Company, a petrol pump agent in Nepal, and this is still in operation as Kedia Auto in Birgunj. Kedia claims that 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,” he says.</div> <div> </div> <div> Today the group has over 1000 administrative staff, more than 100 technical staff and over 2500 skilled and semi-skilled workers. Today the group has investments in around four dozen companies, doing business in wide range of sectors.</div> <div> </div> </div> <table border="0" cellpadding="10" width="99%"> <tbody> <tr> <td bgcolor="#E5E4E2"> <div> <div> <span style="font-size:14px;"><strong>Banks and Financial Institutions</strong></span></div> <div> •<span class="Apple-tab-span" style="white-space:pre"> </span>Gorkha Finance Ltd</div> <div> •<span class="Apple-tab-span" style="white-space:pre"> </span>Siddhartha Bank Ltd</div> <div> •<span class="Apple-tab-span" style="white-space:pre"> </span>Siddhartha Capital Ltd</div> <div> •<span class="Apple-tab-span" style="white-space:pre"> </span>Siddhartha Insurance Ltd</div> <div> </div> <div> <span style="font-size:14px;"><strong>Fabrication and Iron and Steel</strong></span></div> <div> •<span class="Apple-tab-span" style="white-space:pre"> </span>Narayani Metal Industries</div> <div> •<span class="Apple-tab-span" style="white-space:pre"> </span>Sundar Wire and Nails</div> <div> •<span class="Apple-tab-span" style="white-space:pre"> </span>Sundar Furniture Industries Pvt Ltd</div> <div> •<span class="Apple-tab-span" style="white-space:pre"> </span>Sundar Steel Pvt Ltd</div> <div> </div> <div> <span style="font-size:14px;"><strong>Dairy and Agro Industries</strong></span></div> <div> •<span class="Apple-tab-span" style="white-space:pre"> </span>Amarawati Madyashala Pvt Ltd</div> <div> •<span class="Apple-tab-span" style="white-space:pre"> </span>Sitaram Gokul Milks Kathmandu Ltd</div> <div> •<span class="Apple-tab-span" style="white-space:pre"> </span>Indushankar Chini Udyog Ltd</div> <div> •<span class="Apple-tab-span" style="white-space:pre"> </span>Mahabir Adhunik Dal Udyog</div> <div> •<span class="Apple-tab-span" style="white-space:pre"> </span>Ram Dal Udyog</div> <div> •<span class="Apple-tab-span" style="white-space:pre"> </span>Brijlal Chamal Udyog Harion</div> <div> •<span class="Apple-tab-span" style="white-space:pre"> </span>Birgunj Khadya Udyog Pvt Ltd</div> <div> </div> <div> <span style="font-size:14px;"><strong>Exports</strong></span></div> <div> •<span class="Apple-tab-span" style="white-space:pre"> </span>Medical Herbs</div> <div> •<span class="Apple-tab-span" style="white-space:pre"> </span>Red Split Lentils</div> <div> •<span class="Apple-tab-span" style="white-space:pre"> </span>Flooring Carpets</div> <div> •<span class="Apple-tab-span" style="white-space:pre"> </span>Refined Vegetable Ghee</div> <div> •<span class="Apple-tab-span" style="white-space:pre"> </span>Pashmina (Cashmere) Products</div> <div> </div> <div> <span style="font-size:14px;"><strong>Imports</strong></span></div> <div> •<span class="Apple-tab-span" style="white-space:pre"> </span>Paper Products</div> <div> •<span class="Apple-tab-span" style="white-space:pre"> </span>Textile & Fabrics</div> <div> •<span class="Apple-tab-span" style="white-space:pre"> </span>Industrial Supplies</div> <div> •<span class="Apple-tab-span" style="white-space:pre"> </span>Metals & Minerals</div> <div> •<span class="Apple-tab-span" style="white-space:pre"> </span>Printing & Publishing</div> <div> •<span class="Apple-tab-span" style="white-space:pre"> </span>Construction Supplies</div> <div> •<span class="Apple-tab-span" style="white-space:pre"> </span>General Merchandise</div> <div> •<span class="Apple-tab-span" style="white-space:pre"> </span>Agro & food Products</div> <div> •<span class="Apple-tab-span" style="white-space:pre"> </span>Flooring & Furnishing</div> <div> •<span class="Apple-tab-span" style="white-space:pre"> </span>Fertilizers & Chemicals</div> <div> •<span class="Apple-tab-span" style="white-space:pre"> </span>Medical & Pharmaceuticals</div> <div> •<span class="Apple-tab-span" style="white-space:pre"> </span>Electronic & Electrical Goods</div> <div> •<span class="Apple-tab-span" style="white-space:pre"> </span>Cosmetics & Household Appliances</div> <div> </div> <div> <span style="font-size:14px;"><strong>Foreign Brand Representation</strong></span></div> <div> •<span class="Apple-tab-span" style="white-space:pre"> </span>Haier</div> <div> •<span class="Apple-tab-span" style="white-space:pre"> </span>Hisense</div> <div> •<span class="Apple-tab-span" style="white-space:pre"> </span>Toshiba</div> <div> •<span class="Apple-tab-span" style="white-space:pre"> </span>Evernal</div> <div> •<span class="Apple-tab-span" style="white-space:pre"> </span>Mitsuma</div> <div> •<span class="Apple-tab-span" style="white-space:pre"> </span>Chin Yang Corporation (South Korea)</div> <div> •<span class="Apple-tab-span" style="white-space:pre"> </span>Bharat Petroleum Corporation (India)</div> <div> </div> <div> <span style="font-size:14px;"><strong>Trading Companies</strong></span></div> <div> •<span class="Apple-tab-span" style="white-space:pre"> </span>Trading Firm</div> <div> •<span class="Apple-tab-span" style="white-space:pre"> </span>Sumit Impex</div> <div> •<span class="Apple-tab-span" style="white-space:pre"> </span>Kanak New Traders</div> <div> •<span class="Apple-tab-span" style="white-space:pre"> </span>Nepal Multinational Pvt Ltd</div> <div> •<span class="Apple-tab-span" style="white-space:pre"> </span>Eshita Trading Pvt Ltd</div> <div> •<span class="Apple-tab-span" style="white-space:pre"> </span>Yagya Shree Pvt Ltd</div> <div> •<span class="Apple-tab-span" style="white-space:pre"> </span>Sauryn Exim Pvt ltd</div> <div> •<span class="Apple-tab-span" style="white-space:pre"> </span>Infotech Solution Pvt Ltd</div> <div> •<span class="Apple-tab-span" style="white-space:pre"> </span>Nepal Sagarmatha Traders</div> <div> •<span class="Apple-tab-span" style="white-space:pre"> </span>Diamond Agro International</div> <div> •<span class="Apple-tab-span" style="white-space:pre"> </span>Rohit International Pvt Ltd</div> <div> •<span class="Apple-tab-span" style="white-space:pre"> </span>Sanjay Trade Links Pvt Ltd</div> <div> •<span class="Apple-tab-span" style="white-space:pre"> </span>Kedia International Pvt Ltd</div> <div> </div> <div> <span style="font-size:14px;"><strong>Education</strong></span></div> <div> •<span class="Apple-tab-span" style="white-space:pre"> </span>Sundarmal Ram Kumar Girls Higher Secondary School, Birgunj</div> <div> •<span class="Apple-tab-span" style="white-space:pre"> </span>Maharaja Agrasen Faculty of Management, Birgunj</div> <div> •<span class="Apple-tab-span" style="white-space:pre"> </span>D.A.V. Rukamani Banarasi Kedia School, Birgunj</div> <div> •<span class="Apple-tab-span" style="white-space:pre"> </span>D.A.V. Sushi Kedia Vishwa Bharati, Harion, Sarlahi</div> <div> •<span class="Apple-tab-span" style="white-space:pre"> </span>D.A.V. Kedia Vishwa Bharati, Biratnagar</div> <div> •<span class="Apple-tab-span" style="white-space:pre"> </span>D.A.V. Kedia Vishwa Bharati Nepal, Kathmandu</div> <div> •<span class="Apple-tab-span" style="white-space:pre"> </span>D.A.V. Sushil Kedia Vishwa Bharati, Lalitpur</div> <div> </div> <div> <span style="font-size:14px;"><strong>Healthcare and Welfare</strong></span></div> <div> •<span class="Apple-tab-span" style="white-space:pre"> </span>Ram Kumar Mahabir Prasad Kedia Eye Hospital, Birgunj</div> <div> •<span class="Apple-tab-span" style="white-space:pre"> </span>Mahabir Prasad Brijlal Kedia Dental Institute, Birgunj</div> <div> •<span class="Apple-tab-span" style="white-space:pre"> </span>Sitaram Kedia Sewa Sadan, Harion, Sarlahi</div> <div> •<span class="Apple-tab-span" style="white-space:pre"> </span>Nepal Bodhi Tree International Society, Birgunj</div> <div> •<span class="Apple-tab-span" style="white-space:pre"> </span>Mahabir Prasad Brijlal Kedia Sewa Trust, Birgunj</div> <div> •<span class="Apple-tab-span" style="white-space:pre"> </span>Kedia Children’s Scholarship Fund, Birgunj</div> <div> •<span class="Apple-tab-span" style="white-space:pre"> </span>Sushil Kedia Sewa Foundation, Birgunj</div> <div> </div> <div> <span style="font-size:14px;"><strong>Other Manufacturing units</strong></span></div> <div> •<span class="Apple-tab-span" style="white-space:pre"> </span>Brij Cement Pvt Ltd</div> <div> •<span class="Apple-tab-span" style="white-space:pre"> </span>Sundar Candles</div> <div> •<span class="Apple-tab-span" style="white-space:pre"> </span>Sushil Vanaspati Pvt Ltd</div> <div> •<span class="Apple-tab-span" style="white-space:pre"> </span>Yeti Fabrics Ltd</div> </div> </td> </tr> </tbody> </table> <div> </div>', 'published' => true, 'created' => '2014-01-20', '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' => 'Kedia Organisation, a multi-million business conglomerate is not only one of the largest business houses in Nepal but also one of the oldest. The business house has diversified itself into agriculture, dairy, banking, trading among other industries without leaving a bit of the manufacturing sector that the group is focused on.', 'sortorder' => '2296', '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' => '2452', 'article_category_id' => '134', 'title' => '“In The Long Run, Ethics Pays”', 'sub_title' => '', 'summary' => null, 'content' => '<div> </div> <div> <span style="font-size:14px;"><strong>Prof C Panduranga Bhatta</strong> is a Professor and founder coordinator of Business Ethics and Communication Group and Coordinator of Management Centre for Human Values at the Indian Institute of Management Calcutta (IIMC). He has been continuously involved in academic administration of the IIMC since 1999. In an interview with The Corporate’s <strong>Angila Sharma</strong>, he discussed core principles of business ethics and its relevance in the present context. <strong>Excerpts</strong></span><strong>:</strong></div> <div> </div> <div> <span style="font-size:14px;"><strong>Generally business ethics and CSR are treated as synonymous. How to distinguish them?</strong></span></div> <div> Before the introduction of the term Corporate Social Responsibility (CSR), business ethics’ definition was limited to not doing corruption in business. But now, business ethics is defined and understood in a broader way and includes Corporate Social Responsibility. So, I would like to say that CSR is one of the aspects of business ethics. As such, the business houses that are active in their CSR can be called ethical because they have realized that they have a duty to perform. </div> <div> </div> <div> Earlier, business houses would conduct business in an ethical manner but would not be concerned with the community. But, now, they should also be concerned with the society because they make profit because of the ordinary people around them. So, CSR is a part of business ethics.</div> <div> </div> <div> <span style="font-size:14px;"><strong>The popular view including that of the government is that business ethics and profit making cannot go hand in hand. What is your opinion on this? </strong></span></div> <div> This is the biggest mistake people are making. We can take examples of corporations in the international arena that are making profit ethically. Ethics means taking care of the safety of the products; it means you don’t do wrong to the customers through your products. Business ethics means that corporations allocate certain amount of their profit for the betterment of the people. So, the corporations, which are conducting business in an ethical manner, also earn profit.</div> <div> </div> <div> This issue can be looked upon in two ways. It depends on the business corporation whether it is looking at the short term or long term. Short-term business means operating for a small period of time, earning profit in any manner and then shifting to a new place. We describe these kinds of businesses as ‘fly by night operators’. This type of activity is completely unethical and we do not consider these types of activities as business. We are talking about business corporations that operate for a long period of time. Such business corporations do not limit themselves to stopping corrupt activities, but widen their view to the entire society. Thus, in the long run, such business houses survive, make profit and are considered as ethical business firms. In the long run, ethics pays.</div> <div> </div> <div> <span style="font-size:14px;"><strong>In today’s competitive world, how can business houses gain comparative advantage through practicing business ethics?</strong></span></div> <div> Globalization can give you advantage as well as disadvantage. Firstly, if you are an ethical company, you are welcomed everywhere. This is because of the reputation of the business house which is built on ethics. Business houses have to take care of ethics. For example: Infosys is a company that is present throughout the world. They have a motto that says ‘Powered by Intellect; Driven by values’. They have been practicing it and people have been watching their loyalty towards their motto.If people are convinced, they will accept the company. This way the business houses can gain comparative advantage. Their ethics provide them the comparative advantage.</div> <div> </div> <div> <span style="font-size:14px;"><strong>What innovative methods are being practiced or developed to instil human values in the management of business organizations?</strong></span></div> <div> Human Values is a very comprehensive term. It includes the behaviour of the business houses towards its customers, employees, community and the environment. The business house has to be concerned about the environment and the community while practicing business. </div> <div> </div> <div> Business houses can instil human values in their practice through the development of caring attitude.Any business houses should consider human beings as their first priority.As a businessperson, relationship matters a lot. If business houses fail to maintain good relationship with the employees, customers and the community, it fails. </div> <div> </div> <div> <span style="font-size:14px;"><strong>How do you see the situation of business in South Asia?</strong></span></div> <div> The situation is picking now because of globalization. People are exposed to the activities of business houses.Earlier, the situation was such that business houses would carry out their work in an unethical manner and to cover it up, they would do some charity and give donations. But, now, how any corporation makes business is noticed and reported. </div> <div> </div> <div> Another thing that is improving the situation is the international ranking. Every business house wants to participate in the international ranking. For example: Transparency International ranking.The moment you perform corrupt activities or you compromise with the safety of the employees and customers, you are ranked in the top of the most corrupt company. Earlier, companies were not concerned with the country’s image, but now, companies are tied up with the country. If the country does not have good image, nobody would want to do business in that country. Countries are the conglomerates of certain companies. This has helped in improving the situation of business ethics in South Asia and rest of the world.</div> <div> </div> <div> <span style="font-size:14px;"><strong>Marketing profession is derided as an example of unethical business practice. What is your suggestion to this professional field for overcoming this challenge?</strong></span></div> <div> In marketing, what matters the most is the product. Communication becomes very important while marketing. If you are giving false information to the consumers while selling the product, then, you lose reputation. If you are marketing a product that does no harm to the consumers, then it is not unethical.</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' => 'Prof C Panduranga Bhatta is a Professor and founder coordinator of Business Ethics and Communication Group and Coordinator of Management Centre for Human Values at the Indian Institute of Management Calcutta (IIMC). He has been continuously involved in academic administration of the IIMC since 1999. In an interview with The Corporate’s Angila Sharma, he discussed core principles of business ethics and its relevance in the present context. Excerpts:', 'sortorder' => '2295', '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' => '2448', 'article_category_id' => '144', 'title' => 'Better Late Than Never', 'sub_title' => '', 'summary' => null, 'content' => '<div> The government has prepared to start exploring natural gas (Methane) trapped below the surface of the Kathmandu Valley and excavate it for commercial use. The Department of Mines and Geology (DMG) has said that it will start gas exploration in Imadol of Lalitpur by mid-March. The Department has even sanctioned a budget of Rs 5 million for the project. Though late, this effort by the government is worth praising. It has revived hopes that the exploitation of this wealth below our feet could help address the energy crisis in the Kathmandu valley to some extent. </div> <div> </div> <div> It has been long proved that the Kathmandu Valley denizens are sitting on top of a huge deposit of underground natural gas which is highly combustible and can be utilized as a dependable alternative source of energy. In some areas of Patan, Thapathali and Tripureswor, the gas is being tapped by individual households free of cost.</div> <div> </div> <div> Studies carried out by the DMG with the help of donor agencies such as JICA from the late 1970S to late 1990s indicate the gas reserves can fulfill the domestic energy needs of an estimated 20,000 households in Kathmandu Valley for 30 years. In the past, the DMG had dug 14 gas wells in an area of 26 sq kms including Teku, Tripureswor and Koteswor of Kathmandu, and Imadol and Tikathali of Lalitpur. </div> <div> </div> <div> The DMG even established a model gas plant in Teku in 1983 which stopped operating in the late 1990s. The experiment was to see if gas supply was consistent enough for commercial use. According to sources at DMG, the gas collected in the plant was supplied to various government offices in the immediate vicinity of the model plant. </div> <div> </div> <div> In 2001, the DMG even floated a project titled ‘Kathmandu Gas Project’ in the private sector. But no private company showed any interest in the project. DMG had initiated the project with the help of JICA and UNDP, concluding that a potential gas reserve of about 300 million cu m exists in central and southern Kathmandu as far back as 1978.</div> <div> </div> <div> Reports on past exploration of the Valley’s gas have shown that the gas is biogenic and is mixed with water. This could be the reason why private investors think that the returns from gas excavation might not be very lucrative. That’s why they have not come forward for the excavation process. The DMG hopes that private investors can be roped in once it is established that the gas in the valley is commercially viable. That’s why it has decided to spend Rs 5 million initially in the exploration and excavation of gas at Imadol of Lalitpur. The DMG also hopes that this gas could be sold to housing companies or it can be used to produce thermal electricity of around 2 MW. </div> <div> </div> <div> However, instead of producing thermal energy from this gas, it would be wise to fill it in cylinders and supply it for household use or as fuel to means of transport. The import of petroleum gas from India is one of the major reasons behind our widening trade deficit with the southern neighbour. If the Valley’s gas can be used for cooking, for example, the import of LPG from India can be decreased to some extent. The government should think along this line. If the government’s experiment becomes successful, private investors will certainly come forward for the excavation of the gas.</div>', 'published' => true, 'created' => '2014-01-19', 'modified' => '2014-01-20', '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 government has prepared to start exploring natural gas (Methane) trapped below the surface of the Kathmandu Valley and excavate it for commercial use. The Department of Mines and Geology (DMG) has said that it will start gas exploration in Imadol of Lalitpur by mid-March. The Department has even sanctioned a budget of Rs 5 million for the project. Though late, this effort by the government is worth praising. It has revived hopes that the exploitation of this wealth below our feet could help address the energy crisis in the Kathmandu valley to some extent.', 'sortorder' => '2294', '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' => '2450', 'article_category_id' => '91', 'title' => 'New Foreign Aid Policy Ready Ceiling On Loans, Grants', 'sub_title' => '', 'summary' => null, 'content' => '<div> <strong>--By TC Correspondent </strong></div> <div> </div> <div> In a bid to bring foreign aid under the ambit of national system and priorities, the Ministry of Finance (MoF) has prepared a new foreign aid policy which will be implemented after the formation of a new elected government. “The new foreign aid policy is ready. It has been prepared after homework of nearly a decade following consultations with all stakeholders. Now we are waiting for the new government to implement it,” said Joint Secretary Madhu Kumar Marasini, chief of the International Economic Cooperation Coordination Division under the MoF.</div> <div> </div> <div> The new policy has some new provisions regarding foreign aid. According to the new policy, the government will not accept a foreign loan of less than USD 20 million and a grant of less than USD 5 million. However, the policy accepts technical assistances of smaller size.</div> <div> </div> <div> “The new policy has put ceilings on foreign loans and grants,” Marasini said, “It also has the provision of mentioning all foreign assistance in the Red Book.” According to Marasini, smaller donors will have to make their contribution through a pool fund.</div> <div> </div> <div> He added that the revised policy is aimed at boosting investments in sectors such as energy, infrastructure (highways and airports), agriculture and irrigation. “The new policy has prioritized these sectors which need huge investment,” Marasini made it clear. </div> <div> </div> <div> He added that the new policy will make the foreign assistance regime transparent. “It’s us who should be sitting in the driver’s seat, not the donors. This, in essence, is the fundamental of the new aid policy,” Marasini shared.</div> <div> </div> <div> The policy aims at graduating Nepal out of the group of least developed countries to the block of developing countries by 2022. </div> <div> </div> <div> At present, there are nearly 500 projects being run through foreign assistance. The new aid policy aims at bringing down the number of such projects to 150.</div> <div> </div> <div> There are nearly 40 international donors providing foreign assistance including loans, grants and technical assistance to Nepal at present. </div>', 'published' => true, 'created' => '2014-01-19', 'modified' => '2014-01-20', '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' => 'In a bid to bring foreign aid under the ambit of national system and priorities, the Ministry of Finance (MoF) has prepared a new foreign aid policy which will be implemented after the formation of a new elected government. “The new foreign aid policy is ready. It has been prepared after homework of nearly a decade following consultations with all stakeholders. Now we are waiting for the new government to implement it,” said Joint Secretary Madhu Kumar Marasini, chief of the International Economic Cooperation Coordination Division under the MoF.', 'sortorder' => '2293', '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' => '2446', 'article_category_id' => '122', 'title' => 'Chachan Group: Cementing Its Foundation', 'sub_title' => '', 'summary' => null, 'content' => '<div> </div> <div> <strong>--By Gaurav Aryal and Om Prakash Khanal</strong></div> <div> </div> <table align="right" style="margin: 0px 0px 0px 10px;" width="25"> <tbody> <tr> <td> <img alt="Satish Chachan, Director, Chachan Group" src="/userfiles/images/sptlght1%20(Copy).jpg" style="border-width: 0px; border-style: solid; width: 200px; height: 221px;" /></td> </tr> <tr> <td bgcolor="#FFFFFF"> <div align="center"> <div style="text-align: center;"> <div> <strong>Satish Chachan</strong></div> <div> <em>Director, Chachan Group</em></div> </div> </div> </td> </tr> </tbody> </table> <div> Chachan Group evolved into a manufacturing and trading house when it changed its course into manufacturing from the family owned trading business. This move not only made the group grow leaps and bounds but also established itself as a leading industrial and trading house. The group in its initial days traded various commodities such as leather and leather products, cement, vegetable ghee, food grains, lentils, oil seeds, spices, consumer goods, fertilizer, pulses, edible oils and animal feeds. Today, the group not only trades these commodities but also produces them. The group’s expansion was not merely driven by the market force. There were visions and entrepreneurial skills of earlier generation of businessmen, Mahabir Prasad Chachan and Shree Maliram Chachan, who steered the business towards what it is today. When the group passed onto the new generation of businessmen, Babu Lal Chachan and Parmeshwar Lal Chachan who are Chairman and Vice-Chairman respectively, the group had reached to a position from where it would never have to look back. </div> <div> </div> <div> <span style="font-size:14px;"><strong>Growing Larger</strong></span></div> <div> Satish Chachan, Director of Chachan Group says that the group is continuously following the tradition established by its founders towards further growth of the company. He proudly says, “Compared to the group’s initial days, the company has achieved a remarkable success in cement manufacturing besides continuing its decades old cement selling business.” Within the last decade, the group has established three cement grinding plants each having a production capacity of 350 metric tonnes (MT) of cement per day in Birgunj. Similarly, the group has begun the construction of fourth cement grinding plant in Nepalgunj with the same capacity as that of a single unit in Birgunj.</div> <div> </div> <div> Chachan says that the group had established a poly-plastic bag industry two years back in Birgunj. This factory has enabled the group’s cement plants to use its own cement packing bags. “This poly-plastic bag industry has also earned a big business faith in the major sectors of the country. This clearly indicates the satisfactory present and past situation of the company and its growing capability to contribute a large amount of revenue to the nation.”</div> <div> </div> <div> <span style="font-size:14px;"><strong>Gaining Strength</strong></span></div> <div> The group has shown remarkable progress in goods manufacturing that it has decided to specialise on. At present, it is producing cement, vegetable oil, leather goods, poly-plastic goods and various food products through its food processing units. Likewise, the group is also involved in trading through its three companies who have direct presence in over 19 different cities across the country.</div> <div> </div> <div> Chachan Group is today considered one of the leading business houses of Nepal based in Birgunj for producing variety of commodities with a wide reach across the country. Chachan claims that the products range that the company trades in and its wide network are suggestive of their market and the robust financial strength of the group.</div> <div> </div> <div> He shares that the annual turnover of the group exceeds Rs 4 billion. He also adds that the staggering 70 per cent of the total turnover is generated by the cement wing of the group. While sharing the strength of the group, Chachan boasts that his business has been employing 1500 people directly along with a huge number of indirect employments in transportation and handling of the raw materials and finished products. He also adds that 300 employees are working in the cement wing alone. The group’s beneficiaries such as construction companies, commercial enterprises, transporters, traders, farmers and consumers are spread over major parts of Tarai and hilly regions of the country.</div> <div> </div> <div> <span style="font-size:14px;"><strong>Changing the Course</strong></span></div> <div> For decades, the group had been trading various commodities. Chachan says, “This trade grew bigger and flourished gradually, which ultimately evolved into the establishment and identification of the Chachan Group. This can be regarded as the first and fundamental turning point of the company.” Gradually the trading business expanded; meanwhile, various new manufacturing units were established.</div> <div> </div> <div> Around one and a half decade ago, the group decided to establish cement manufacturing units realising the growing demand of construction materials and cement in particular. This demand was identified when the state owned cement plants such as Hetauda Cement, Udaypur Cement and other private cement producers were unable to meet the major percentage of cement demands. This inspired the group to establish Narayani Cement Udyog Pvt Ltd in Birgunj. This company today has production capacity of 1050 tonnes per day. </div> <div> </div> <div> <span style="font-size:14px;"><strong>Roadmap Ahead</strong></span></div> <div> Chachan believes that the group has kept its promise of offering best quality products and services at a reasonable cost and claims that it would open up new avenues for the group to expand its manufacturing and trading businesses in the days ahead. “Our past experience gives us confidence that we have further opportunities and scope for expansion. We want to establish our own clinker producing units so that we can stand as one of the leading cement and clinker manufacturer of Nepal,” envisions Chachan.</div> <div> </div> <div> He reveals that the group has a clinker producing plant in the pipeline. He elaborated that this new plant will have a production capacity of 700 to 750 tonnes per day. Likewise, once the Nepalgunj based cement plant comes into operation, the group is planning to add another cement grinding plant there with production capacity and design similar to the existing one.</div> <div> </div> <div> Similarly, Chachan reveals that the group is planning to acquire a limestone quarry in a hilly area of Makawanpur district, few kilometres away from Hetauda. “Besides this, we have been thinking to buy some additional land to establish the clinker producing plant.Though we are already in touch with some of the renowned Indian companies for establishing the clinker plant, we think this will materialise only after three to five years from now,” he added. Similarly, Chachan is ready to expand other plants depending on the market demand and financial status.</div> <div> </div> <div> <img alt="Chachhan Group" src="/userfiles/images/sptlight%20(Copy).jpg" style="margin-left: 10px; margin-right: 10px; height: 333px; width: 550px;" /></div> <div> </div> <div> <span style="font-size:16px;"><strong>CSR Commitments</strong></span></div> <div> As part of its Corporate Social Responsibility (CSR), the group has given prime importance to environmental protection and freeing its locality from pollutants. The group is also strengthening and accelerating its sustainable environmental efforts through the reduction of environmental impacts and the conservation of the biodiversity. “We have been aiming to provide satisfaction and gratification to as many stakeholders as possible. To this aspect, we believe and act ethically and relentlessly to seek improvement in the quality, safety, information security and reliability of our products and services,” explains Chachan.</div> <div> </div> <div> Satish Chachan, Director of the group says, “We respect our customer and their culture and the community they belong to while we deal with them in the course of our business activities. We also engage in dialogues with various stakeholders in society and incorporate their feedback to enhance our CSR activities so that we can contribute our best to improve our surroundings, quality and the effectiveness of our activities.” </div> <div> Similarly, the company has dedicated itself in creating a safe and comfortable work environment for all its employees so that they can realise their full potential and have a fulfilling career, as a responsible corporate culture.</div> <div> </div> <table border="0" cellpadding="10" width="99%"> <tbody> <tr> <td bgcolor="#E5E4E2"> <div> <div> <span style="font-size:16px;"><strong>Sister Companies of Chachan Group</strong></span></div> <div> •<span class="Apple-tab-span" style="white-space:pre"> </span>Narayani Cement</div> <div> •<span class="Apple-tab-span" style="white-space:pre"> </span>Jaya Bageshwari Cement</div> <div> •<span class="Apple-tab-span" style="white-space:pre"> </span>Narayani Oil Refinery Udyog</div> <div> •<span class="Apple-tab-span" style="white-space:pre"> </span>Narayani Leather Manufacturing Industries</div> <div> •<span class="Apple-tab-span" style="white-space:pre"> </span>Narayani Modern Pulses Industries</div> <div> •<span class="Apple-tab-span" style="white-space:pre"> </span>Shree Adhunik Dal Udyog</div> <div> •<span class="Apple-tab-span" style="white-space:pre"> </span>Shree Agro Processing Unit</div> <div> •<span class="Apple-tab-span" style="white-space:pre"> </span>Adarsh Oil Industry</div> <div> •<span class="Apple-tab-span" style="white-space:pre"> </span>Adarsh Tel Udyog</div> <div> •<span class="Apple-tab-span" style="white-space:pre"> </span>Adarsh Polyplastic Pvt Ltd</div> <div> </div> <div> <span style="font-size:16px;"><strong>Independent Trading Concerns under the Group</strong></span></div> <div> •<span class="Apple-tab-span" style="white-space:pre"> </span>Chachan Implex</div> <div> •<span class="Apple-tab-span" style="white-space:pre"> </span>Devki International </div> <div> •<span class="Apple-tab-span" style="white-space:pre"> </span>Manoj International Traders</div> <div> </div> <div> <span style="font-size:16px;"><strong>SWOT Analysis</strong></span></div> <div> </div> <div> <span style="font-size:14px;"><strong>Strengths</strong></span></div> <div> •<span class="Apple-tab-span" style="white-space:pre"> </span>Customers </div> <div> •<span class="Apple-tab-span" style="white-space:pre"> </span>Staff </div> <div> •<span class="Apple-tab-span" style="white-space:pre"> </span>Good quality products and services</div> <div> •<span class="Apple-tab-span" style="white-space:pre"> </span>Reasonable price </div> <div> •<span class="Apple-tab-span" style="white-space:pre"> </span>Harmonic relationship with employees, customers and local surroundings</div> <div> •<span class="Apple-tab-span" style="white-space:pre"> </span>Disciplined working attitude</div> <div> •<span class="Apple-tab-span" style="white-space:pre"> </span>Timely revenue payments to the government </div> <div> </div> <div> <span style="font-size:14px;"><strong>Weaknesses</strong></span></div> <div> •<span class="Apple-tab-span" style="white-space:pre"> </span>Inability to give hundred percent employment to the local residents </div> <div> •<span class="Apple-tab-span" style="white-space:pre"> </span>Cannot fulfill the donation demands from local parties and their leaders </div> <div> </div> <div> <span style="font-size:14px;"><strong>Opportunities</strong></span></div> <div> •<span class="Apple-tab-span" style="white-space:pre"> </span>Prospects for growth of construction material businesses</div> <div> •<span class="Apple-tab-span" style="white-space:pre"> </span>Growing domestic market and purchasing capacity of people</div> <div> •<span class="Apple-tab-span" style="white-space:pre"> </span>Rapidly emerging technological innovations</div> <div> </div> <div> <span style="font-size:14px;"><strong>Threats</strong></span></div> <div> •<span class="Apple-tab-span" style="white-space:pre"> </span>Lack of smooth business environment</div> <div> •<span class="Apple-tab-span" style="white-space:pre"> </span>Frequent bandhs and strikes </div> <div> •<span class="Apple-tab-span" style="white-space:pre"> </span>Lack of environment to work peacefully and uninterruptedly where the group is based</div> <div> </div> <div> <span style="font-size:16px;"><strong>Market Positioning</strong></span></div> <div> Products of Chachan Group has a wide market coverage including major cities and towns such as Birgunj, Hetauda, Kalaiya, Narayanghat, Kathmandu, Bhaktapur, Banepa, Batar, Pokhara, Bhairahawa, Krishna Nagar, Dang, Nepalgunj, Dhangadhi, Nijgarh, Gaur, Lahan, Janakpur, Jhapa, Morang, Ilam and other places in hilly and Tarai region. According to the group, major market for cement is in all the belts extending from Birgunj to Jhapa and in Hetauda, Narayanghatand major cities and towns of Bagmati zone.</div> <div> </div> <div> According to Satish Chachan, Director of the group, product placement is done through various dealers and transporters. Group’s contact or branch offices and dealers are channels for distribution. Major product range includes daily commodities, construction materials, leather goods, fertilizers among others. </div> <div> All the factories of the group are being operated in full capacity to meet the market demand. Products are sold under different brand names such as Trishakti and Bajrashakti in the cement segment while other commodities also have their own niche brand value recognised in their market targets.<span class="Apple-tab-span" style="white-space:pre"> </span></div> </div> </td> </tr> </tbody> </table> <p> </p>', 'published' => true, 'created' => '2014-01-19', 'modified' => '2014-01-20', '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' => 'Chachan Group evolved into a manufacturing and trading house when it changed its course into manufacturing from the family owned trading business. This move not only made the group grow leaps and bounds but also established itself as a leading industrial and trading house. The group in its initial days traded various commodities such as leather and leather products, cement, vegetable ghee, food grains, lentils, oil seeds, spices, consumer goods, fertilizer, pulses, edible oils and animal feeds.', 'sortorder' => '2292', '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' => '2419', 'article_category_id' => '109', 'title' => 'Nepse Begins The Week With A Decline', 'sub_title' => '', 'summary' => null, 'content' => '<div> </div> <div> <strong>--By Sanjeev Sharma</strong></div> <div> </div> <div> Nepal Stock Exchange Limited (Nepse) index, the barometer of country’s capital market dropped by almost 5.28 points on Sunday, the first trading day of the week. The bench mark index, which was closing at 763.76 on Thursday-- the last trading day of previous week settled at 758.48 points on Sunday. Following the Nepse, Sensitive index representing class ‘A’ listed companies in the secondary market, loses 1.39 points to settle at 169.56. </div> <div> </div> <div> The fall in Nepse Sunday is attributed by decrease in all sub-indices except Finance sub-index traded in the day. Hotel sub-index was the biggest loser with a fall of 45.23 points (4.01%). Similarly, the sub-indices of ‘Other’, Hydropower and Commercial banks fell by 15.27, 11.34 points and 4.99 points respectively for the day. The Insurance sub-index loses (2.39 points) followed by Development Banks sub-index (0.52 points) and Trading (0.08 points). </div> <div> </div> <div> <span style="font-size:14px;"><strong>Nepse Mostly Down for the Week in Thin Trading</strong></span></div> <div> After sharp gains for 6 consecutive weeks, the Nepse index continued its retreat for second week in a row amid thin weekly trading. Nepse closed down by 16.03 points last week. Profit booking strategy of investors along with warnings about the unnatural surge in the index from regulators and top government officials seem to have reined the stock market. Many investors are selling the stocks they bought few months back to secure profit.</div> <div> </div> <div> For the period of 29th December and 3rd January, the number of transactions came down to 11,093 (which was 15,000 last week). In the mean time, altogether 3.6 million units shares that worth Rs 2.27 billion turnovers being sold in the stock market. Last week, Nepse’s turnover fell by 36.18 per cent compared to the previous week. Similarly, the number of transaction and number of share traded also declined by 26 per cent and 33 per cent respectively. However, analysts say that the stock market will rise next week as selling pressure in the market is low despite the decline in the index. This indicates that the demand for shares in the lower price is exceeding its supply, which is expected to boost the price in the near term. </div> <div> </div> <div> According to the turnover, shares of the Nepal Bangladesh Bank reached the top spot for the week in the market. Nabil Balance Fund-1, meanwhile, climbed to no one spot in terms of the number of units being traded for the week. Likewise, Nepal Telecom maintained its top spot in terms of market capitalization in the domestic market. </div> <div> </div> <div> Nepse index which opened at 787.36 points on the first day of weekly trading (Sunday) fell by around 16 points to close at 763.76 on the last day of the week (Thursday). Most of the sub-indices listed in the Nepse witnessed decline in their values last week. According to weekly transaction, the Hotel sub-index was the biggest gainer with a rise of 17.16 points. All other sub-indices followed downward trend. Last week, Hydropower sub-index was the biggest loser (82.05 points). Similarly, the sub-index of insurance sector fell 38.29 points followed by commercial banks (19.9 points), development banks (7.6 points), finance companies (2.45 points). Likewise, the ‘Other’ sub-index came down by 2.35 points. The Manufacturing sub-index remained unchanged as earlier weeks. The Sensitive Index which represents the share trading of blue chip stocks belonging to class ‘A’ listed companies fell 4.25 points last week. </div> <div> </div> <div> For the week, shares of 125 companies were traded in the stock market. Share prices of 26 companies observed a gain, while price of 73 companies declined last week. Shares prices of 26 companies remained unchanged over the period. </div> <div> </div> <div> <img alt="Nepse Index" src="/userfiles/images/indx%20(Copy)(2).jpg" style="width: 550px; height: 371px; margin-left: 10px; margin-right: 10px;" /></div>', 'published' => true, 'created' => '2014-01-06', 'modified' => '2014-01-19', '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 Stock Exchange Limited (Nepse) index, the barometer of country’s capital market dropped by almost 5.28 points on Sunday, the first trading day of the week. The bench mark index, which was closing at 763.76 on Thursday-- the last trading day of previous week settled at 758.48 points on Sunday. Following the Nepse, Sensitive index representing class ‘A’ listed companies in the secondary market, loses 1.39 points to settle at 169.56.', 'sortorder' => '2291', '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' => '2447', 'article_category_id' => '145', 'title' => 'Hydropower Development For Self-reliant Economy', 'sub_title' => '', 'summary' => null, 'content' => '<div> </div> <div> <strong>--By Dr Subarna Das Shrestha</strong></div> <div> </div> <div> Development of energy is a must if Nepal is to achieve economic prosperity. Energy development in Nepal’s context means none other than the development of hydroelectricity. Nepal’s journey of hydropower development is a century old. The country has been able to produce 718 MW of hydroelectricity over this period. Out of this, nearly 34 percent or 240 MW is being produced by the private sector. The Nepal government allowed the private sector to invest in hydropower through the enactment of the Hydroelectricity Act in 1992.</div> <div> </div> <div> Braving different difficulties, both the private and public sectors have been trying to increase investment in the hydroelectricity sector even in today’s transitional period. Projects worth 1,200 MW are under construction; out of this 28 projects of total capacity of 360 MW are being built by the private sector. Power purchase agreement (PPA) for projects worth nearly 500 MW being developed by the private sector has been done. These projects will enter the construction phase over the next two years and will start producing electricity over another five years. </div> <div> </div> <div> However, there are various problems in the hydropower sector. If we don’t tackle these problems in time, the current energy crisis will only deepen. The country is already reeling under long hours of load shedding. Several industries are faced with the risk of closure because of long load-shedding hours. If that happens, the unemployment figure will rise further. To improve the situation, we need to increase investment in hydropower. However, there will be no significant investment from either domestic or international investors in hydropower as long as an environment for investment security is not created.</div> <div> </div> <div> In order to encourage everyone to create a favourable investment environment for the hydropower sector, the Independent Power producers’ Association, Nepal (IPPAN) had organized the Power Summit 2013 on August 26-27. The summit was focused on four themes: internal investment for projects of internal consumption; external investment for projects of internal consumption; projects focused on external markets; and transmission lines, electricity trade mechanism and marketization. The discussion on these themes helped bring to surface the legal, social, financial and political problems marring hydropower development in the country.</div> <div> </div> <div> To increase investment in the hydropower sector, the first requirement is guarantee of good returns while signing the PPA itself. Second, there should be no obstacles after the project enters the construction phase. The process of issuing license must be eased. For this there should be a one-window policy; the Ministry of Energy should handle everything related to hydroelectricity. At present the situation is such that to seek license for one hydropower project, power producers have to visit 10 ministries and as many government departments. This is a big hassle for independent power producers and increases the cost of the project.</div> <div> </div> <div> The Nepali private sector is ever ready to assist the government in addressing these problems to create the environment of investment in the hydropower sector. If that happens, domestic investment will definitely increase while the country can attract foreign investment as well. However, foreign investors want to sign PPA in the currency of investment. The government should open the doors for an arrangement to sign the PPA in US dollar and make the payment accordingly. If this happens, we can produce the amount of energy we need within the country. Power transmission is another important aspect for which the government has already allocated a budget of Rs 13.5 billion. This step taken by the government is praiseworthy.</div> <div> </div> <div> The annual per capita consumption rate of electricity in Nepal at present is only around 100 units. Fifty percent of the population has no access to electricity at all. Let’s increase the per capita consumption of electricity by five times over the next one decade. We had raised this issue in the Power Summit as well. If we can produce more electricity than we need, the surplus electricity can be marketed in other countries of the region. It is for this reason that the concept of ‘SAARC Grid’ has been forwarded. Nepal will get the maximum benefit from such a regional grid. That’s why we should take the leadership for the construction of SAARC Grid.</div> <div> </div> <div> Rather than focusing on the cost of production of one unit of hydroelectricity, we should think about the loss to the total GDP caused by the non-production of one unit of electricity. A decision regarding 20 per cent post-PPA rate has already been taken by the Cabinet. But this decision is pending at Nepal Electricity Authority. The decisions taken by the government should be implemented. This will send out a good message to all domestic and foreign investors. Taking good decisions is important but implementing such decisions in time is even more important.</div> <div> </div> <div> NEA has a monopoly over hydroelectricity in Nepal. It’s high time we created separate companies for building transmission lines and electricity trade. Similarly, we should have wheeling system in place. In this system one has to pay rent for transmitting electricity through another transmission line. If these concepts are implemented, the private sector can share some of the burden of the NEA. The government has already committed to make these changes in the hydropower sector. What remains is their implementation.</div> <div> </div> <div> At last, the country’s economy cannot achieve a momentum without the development of the hydropower sector. The government and the private sector should join hands for the development of the hydropower sector. If we can do that, we will not only be self-reliant in hydropower but also will be able to export electricity to other SAARC nations. </div> <div> <em>(The author is the immediate past president of IPPAN.)</em></div>', 'published' => true, 'created' => '2014-01-19', 'modified' => '2014-01-19', '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' => 'Development of energy is a must if Nepal is to achieve economic prosperity. Energy development in Nepal’s context means none other than the development of hydroelectricity. Nepal’s journey of hydropower development is a century old. The country has been able to produce 718 MW of hydroelectricity over this period. Out of this, nearly 34 percent or 240 MW is being produced by the private sector. The Nepal government allowed the private sector to invest in hydropower through the enactment of the Hydroelectricity Act in 1992.', 'sortorder' => '2290', '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' => '2334', 'article_category_id' => '109', 'title' => 'Nepse Index Gained 92 Points Last Week Daily Average Turnover Rises 33 Percent', 'sub_title' => '', 'summary' => null, 'content' => '<div> </div> <div> <strong>--By Sanjeev Sharma</strong></div> <div> </div> <div> Nepal Stock Exchange (Nepse) index declined on Sunday by 9.51 points, indicating that the benchmark index of country’s capital market is making corrections after continuous rise of four weeks. On the first day of weekly trading, Nepse settled down at 796.14 points, retreating from last Friday’s closing of 805.65 points. On Sunday, a total of 1.99 million shares were traded through 4,220 transactions on Nepse with the total turnover recorded at Rs 771.67 million. The total market capitalization reached Rs 807 billion on the domestic stock market. The Hydropower sub-index was seen as the biggest loser with 40.06 points. Insurance sub-index emerged as the biggest gainer (31.11 points). The Banking sub-index also lost its footing (17.64 points) followed by Finance (8.62 points) and ‘Others’ (2.35 points). Meanwhile, sub-indices of Development Banks and Hotels gained 7.98 points and 13.27 points respectively. </div> <div> </div> <div> Nepse continued its winning streak last week as the benchmark index again witnessed double-digit gain. The index, which stopped at 713.92 points previous week, surged 91.73 points to reach a record high level of 805.65 points on Friday. Meanwhile, the daily average transaction amount at the index also went up by 32.75 per cent. The daily average transaction amount was recorded at Rs 526.70 million last week against Rs 396.70 million of previous week. </div> <div> </div> <div> Over the period of 15th December to 19th December, the number of trading at Nepse index totaled to 9,800 with 507.12 million shares worth Rs 2.10 billion being sold in the stock market. Last week, transaction volume increased by 6.19 per cent, compared to the previous week. The relatively small increment in transaction amount, however, was overshadowed by sharp rise in average transaction in Nepse which opened for four trading days last week. </div> <div> </div> <div> According to the turnover, shares of the Nepal Bangladesh bank topped the index. Meanwhile, Siddhartha Growth Scheme 1 reached the top spot in terms of the number of units being transacted for the week. Nepal Telecom maintained its top spot in terms of market capitalization. </div> <div> </div> <div> Nepse index, on the first day (Sunday) rose by 2.71 points to settle at 733.25 followed by the second day (Monday) gain of 5.18 points to close at 771.2. On Tuesday, the benchmark index did not resume its trading due to the public holiday. The surge in Nepse continued as it rose by 4.62 points on Wednesday to settle at record high level of 806.82. It was the best performance of the benchmark index since November 13, 2008 when Nepse reached 806.9 points. However, on the last day of weekly trading (Thursday), NEPSE shed 1.17 points to close at 805.65. As many analysts including the stock market officials and regulators warned the investors about vulnerabilities posed by the unnatural surge, the index was forced to made marginal correction. According to them, the continuous rise in Nepse after the second CA elections does not match ground realities and basic fundamentals of the market. </div> <div> </div> <div> Share trading of most of the trading sub-groups increased during the week. Hydropower sub-group was the biggest gainer with a rise of 148 points. Previous week’s biggest loser, the insurance sector gained traction this week as the sub-group achieved 107.93 points. Similarly, the sub-groups of commercial banks and hotel gained 92.39 points and 75.86 points respectively. Likewise, the ‘Other’ sub-group gained 56.38 points followed by Development Bank (18.09 points) and Finance Companies (13.47 points). The Sensitive Index which represents the share trading of blue chip stocks belonging to class ‘A’ listed companies went up by 17.14 points. Manufacturing and Trading sub-group remained same as earlier week. </div> <div> </div> <div> Shares of 130 companies were transacted during the week. 97 companies observed a gain, while shares price of 9 companies declined last week. Shares price of 24 companies remained unchanged over the period.</div> <div> </div> <div> <img alt="Index" src="/userfiles/images/INDEX.jpg" style="width: 550px; height: 304px; margin-left: 10px; margin-right: 10px;" /></div>', 'published' => true, 'created' => '2013-12-23', 'modified' => '2014-01-19', '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 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', 'sortorder' => '2289', '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' => '2445', 'article_category_id' => '202', 'title' => 'Zeal To Work', 'sub_title' => '', 'summary' => null, 'content' => '<div> </div> <div> <strong>--By TC Correspondent</strong></div> <div> </div> <div> Barsha Shrestha, Acting CEO of Clean Energy Development Bank defines herself as a very humble and hard working person. Shrestha enjoys her professional and personal life equally and therefore finds no difficulty in managing time for both. She considers her family as her biggest strength and shares that they are very supportive. “My husband and my children are very supportive, they appreciate my work and are very proud of me,” she said.She regards her parents as her inspiration and credits them for her present standing. Next to them, she finds Mother Teresa’s idealsvery muchinspirational.</div> <div> </div> <div> Shrestha wishes to spend maximum time with her family and in-laws. However, she hardly gets time to do due to her hectic professional schedules. She loves engaging herself in household activities like cooking, cleaning house, gardening and watching television. She is very fond of pickles and likes making variety of pickles in her spare time.</div> <div> </div> <div> She loves travelling and has visited various countries including the United States of America, Australia, France and Germany. She is fond of visiting exotic places and recalls her tripsto Myanmar and Cambodia as one of the most memorable trips.</div> <div> </div> <div> As a positive person she perceives life as a beautiful gift. Shrestha believes in respecting others for being happy in life. She says, “My motto in life is to be happy and true happiness can only be attained if we respect others”. She likes to spend most of her free time in socializing with different people. Shrestha feels proud to be part of the Nepali culture and thinks that Nepali culture has always taught her to respect and love others.</div> <div> </div> <div> As a socially active person she is involved with many organizations such as the Confederation of Nepalese Industries- Women Entrepreneurs and Professional Forum (CNI-WEPF). She is among the Board of Directors of Samriddhi Foundation and is also engaged in many other social activities. </div> <div> </div> <div> Shrestha likes reading economic news but has no interest in political issues. She has fascination towards music and watches many music reality shows on television. </div> <div> </div> <div> Shrestha believes poor time management as one of her weaknesses and sometimes finds trouble in prioritizing her work properly. She believes her staff and customers to be her biggest strength and is thankful towards them for trusting her.</div>', 'published' => true, 'created' => '2014-01-19', 'modified' => '2014-01-20', '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' => 'Barsha Shrestha, Acting CEO of Clean Energy Development Bank defines herself as a very humble and hard working person. Shrestha enjoys her professional and personal life equally and therefore finds no difficulty in managing time for both. She considers her family as her biggest strength and shares that they are very supportive. “My husband and my children are very supportive, they appreciate my work and are very proud of me,” she said.She regards her parents as her inspiration and credits them for her present standing. Next to them, she finds Mother Teresa’s idealsvery muchinspirational.', 'sortorder' => '2288', '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' => '2310', 'article_category_id' => '40', 'title' => 'New Nepali ‘Laissez Faire’ How Strong? How Long?', 'sub_title' => '', 'summary' => null, 'content' => '<div> </div> <div> </div> <div> The nation after its recently concluded historic polls for the next Constituent Assembly and Parliament registering 71% turnout, now expects liberal economy, business freedom, large-scale FDI and power generation, and employment promoting measures from the new Constitution and the government that comes ahead, as found by Prof Ujjwal K Chowdhury, after talking to several people from various walks of life.</div> <div> </div> <div> There is hope in the air. Seven out of every ten Nepalis on the voters’ list of Nepal have exercised their franchise. And, six out of every ten Nepalis who have voted have gone for centrist and liberal left political forces (Nepali Congress & CPN UML), while virtually rejecting the far left polls-boycotting so-called 33-party alliance, the radical left Maoists led by Prachanda, and the rightist regional forces of Madheshis and far right RPP forces.</div> <div> </div> <div> The message is clear. Enough of politicking, now make the polity firm and economy firmer. Create a business environment that is conducive to entrepreneurs, to foreign direct investment and to rapid employment generation.</div> <div> </div> <div> New Business Age interacted with several experts and noted people from various walks of life to ascertain the mood of the nation with regards to the economy of tomorrow.</div> <div> </div> <div> There is surely a high hope that the newly elected CA-Parliament will draft the new constitution that would introduce new economic policies that would propel the country toward the positive direction and we could witness the inevitable growth and development of the country coming with a stable economy. </div> <div> </div> <div> Eminent economist Rameshore Khanal, the former Finance Secretary sums up the spirit rightly, “The Constituent Assembly election results show parties contesting on conservative economic ideologies have been rejected by voters. Nepali Congress (NC), which is considered as a party having the most liberal economic policies, dominated the polls especially in urban areas across the nation. People expressed their aspirations and exercised their power during this election so as to set the progressive course for issues that matter them the most.”</div> <div> </div> <div> The defeat of the Maoists and the regional forces is also seen as the defeat of the federalist agenda. Khanal further notes, “In fact, business community was terrorized due to ethnicity-based federal agenda put forth by UCPN Maoist,” he said, adding that the recent poll results might have relieved the entire business community. More than 90 per cent businessmen do not want federalism based on ethnicity because they cannot do good business amid ethnic tensions. The entire business environment would be more volatile if political parties that favour regional and ethnic agenda had won the election”.</div> <div> </div> <div> Rightly does Kamlesh Kumar Agrawal, the General Secretary of Nepal Chamber of Commerce, observe, “Clear mandate for the centrist parties is a good sign indeed, and a major difference from the last CA election result. Now is the time for them to fulfill their promises of economic revolution or rapid development”.</div> <div> </div> <div> Shekhar Golchha, the President of Nepal Automobile Dealers’ Association, is visibly happy with the turnout, the peaceful polls and the results emerging out of the process. He is satisfied that while issues of federalism, sub-national identity etc found limited mention in election manifestos of most parties, the focus has rightly been on economic aspects and stability of the polity. </div> <div> </div> <div> Bhaskar Raj Rajkarnikar, the Senior Vice President of Federation of Nepalese Chambers of Commerce and Industry (FNCCI), is confident that the new Constitution shall finally be put in place in Nepal now. And the government shall now work firmly towards creating investment-friendly environment in the country. However, he also strongly espouses the need to have local governance bodies as well.</div> <div> </div> <div> <img alt="CA Election " src="/userfiles/images/cs1%20(Copy)(2).jpg" style="width: 550px; height: 209px; margin-left: 10px; margin-right: 10px;" /></div> <div> </div> <div> <span style="font-size:14px;"><strong>Common Minimum Economic Agenda</strong></span></div> <div> It would be pertinent to mention here that the five recent former Prime Ministers of Nepal (Madhav Nepal and Jhalanath Khanal of CPN UML, Sher Bahadur Deuba of Nepali Congress, and Pushpa Kamal Dahal and Dr Baburam Bhattarai of UCPN Maoist) came on the same platform of Nepal Leadership Summit created in Birgunj by the Birgunj Chamber of Commerce and Industry and New Business Age group, and at the end of their deliberations on Economic Growth Roadmap of Nepal for the next one decade, they had signed a 12-point Common Minimum Economic Agenda, which included several fundamental issues.</div> <div> </div> <div> The Declaration noted that the ratifying five leaders commit to give priority to the national economic agenda rather than their respective party agenda in national interests, and also to end the current uneasy industrial relations in favour of productivity, and bring in a new labour and industrial policy conducive to overall economic development. The leaders firmly were committed to individual property rights, the important role of the private sector in the economy, and to an environment to attract rapid FDI in Nepali industries.</div> <div> </div> <div> A sampling of the core issues taken up in the talks by these leaders: “Unhindered power supply is the pre-condition for economic development, in which the government should not run businesses, but just be the regulator,” Sher Bahadur Deuba; “Green economy the focus of economic development,” Madhav Nepal; “Agriculture, regional market and infrastructure development for economic prosperity,” Jhala Nath Khanal; “Foreign investment urgently required, and economic revolution with justifiable distribution must,” Dr Baburam Bhattarai; “Time for economic revolution, in which agriculture is the base, and production, construction and development going hand in hand,” Pushpa Kamal Dahal.</div> <div> </div> <div> Today, since three of these former PMs are the top leaders of the top two parties, Nepali Congress and CPN UML, getting support of above 50% of the voters who exercised their franchise, this itself can be the first corner-stone of economic policy-making of Nepal next.</div> <div> </div> <div> <img alt="CA Election Nepal" src="/userfiles/images/cs2%20(Copy)(1).jpg" style="width: 550px; height: 355px; margin-left: 10px; margin-right: 10px;" /></div> <div> </div> <div> <span style="font-size:14px;"><strong>Securing Private Property</strong></span></div> <div> </div> <table align="left" style="margin: 0px 10px 0px 0px;" width="25"> <tbody> <tr> <td> <img alt="Narottam Aryal, Educationist" src="/userfiles/images/cs3%20(Copy)(1).jpg" style="border-width: 0px; border-style: solid; width: 200px; height: 259px;" /></td> </tr> <tr> <td bgcolor="#DDDDDD"> <div align="center"> <div style="text-align: center;"> <div> <strong>Narottam Aryal</strong></div> <div> <em>Educationist</em></div> </div> </div> </td> </tr> </tbody> </table> <div> The first and the biggest concern is of security of private property and business.</div> <div> </div> <div> “The new constitution MUST acknowledge the role of private sector in the national development and ensure the property rights and should guarantee its security,” notes Narottam Aryal, an educationist leading the forum of Nepali colleges affiliated to foreign universities. </div> <div> </div> <div> Similar voice is echoed by the Manager (Business Development), Chaudhary Group, Roshee Lamichhane, “There is an urgent need to espouse and introduce economic reforms in Nepal with their principal focus on Private Property holding, freedom for entrepreneurial innovation, and abolishing cartel systems.”</div> <div> </div> <div> <span style="font-size:14px;"><strong>Employment Generation</strong></span></div> <div> Property rights apart, the next big concern is naturally of employment. </div> <div> </div> <div> According to Central Bureau of Statistics, the unemployment rate stands at an alarming 46 percent. The only ambition that most young people have is to leave Nepal and a couple of thousands of young people get on planes every day and fly to the Middle East, South East Asia, Europe and beyond to find jobs. However, there is a huge potential of jobs within the country itself. “To address this issue to a larger extent I believe private sectors should be promoted to play a vital role in the growth of national economy and in creating new employment opportunities as it is the only sector that remains the single largest employer,” notes Amit Giri, CEO of International Centre of Academics focused on the task of taking higher education through distance and online learning mode to working people of Nepal.</div> <div> </div> <div> <span style="font-size:14px;"><strong>Limiting Government Role in Business</strong></span></div> <div> A well-known axiom states that the business of government is not to do business. The government has to define in a very clear and precise terms the roles and responsibilities and limit of the state and roles of the private sector. </div> <div> </div> <div> Educationist Narottam Aryal of King’s College notes in this context, “I think that there is still a huge confusion on this front in Nepal. I think that the Government should limit itself to building infrastructure, creating maintaining legal institutions, maintain law and order and peace, and education and health. For the rest of the things the Government must create an enabling environment for the private sector. The new government must bring the programs to promote youth entrepreneurship with a special focus on agriculture and tourism.”</div> <div> </div> <div> <span style="font-size:14px;"><strong>Agriculture: the Mainstay of the Economy</strong></span></div> <div> Nepal is among the poorest and least developed countries in the world, with about one-quarter of its population living below the poverty line. Agriculture is the mainstay of the economy, providing a livelihood for three-fourths of the population and accounting for a little over one-third of GDP. Industrial activity mainly involves the processing of agricultural products, including pulses, jute, sugarcane, tobacco, and grain. Amit Giri calls for policies that allow agrarian credit, market forces to help develop agri-business and conducive environment ensured by the government for the same.</div> <div> </div> <div> <span style="font-size:14px;"><strong>Infra-structure Leap: Backbone for Industrialization to follow</strong></span></div> <div> </div> <table align="left" style="margin: 0px 10px 0px 0px;" width="25"> <tbody> <tr> <td> <img alt="Bijay Rajbhandary, Managing Director CE Construction Pvt Ltd" src="/userfiles/images/cs4%20(Copy)(1).jpg" style="border-width: 0px; border-style: solid; width: 200px; height: 223px;" /></td> </tr> <tr> <td bgcolor="#DDDDDD"> <div align="center"> <div style="text-align: center;"> <div> <strong>Bijay Rajbhandary</strong></div> <div> <em>Managing Director</em></div> <div> <em>CE Construction Pvt Ltd</em></div> </div> </div> </td> </tr> </tbody> </table> <div> “Infrastructure development is a basic tool to upgrade the country’s economic activities, hence there has to be special policies to accelerate the development activities. Real Estate sector, despite its significant contribution in country’s economy is highly fragmented and disorganized. Hence, in order to strengthen this sector, it should be treated as an industry and proper norms and policies should be formulated protecting the interest of this industry, Policies need to be introduced for allowing the foreigners to buy apartments in Nepal with $ 100,000 ceiling but through foreign currency to help boost foreign currency reserves in Nepal,” notes Bijay Rajbhandary, the Managing Director of CE Constructions, a leading realtor of Nepal. </div> <div> </div> <div> It is worthwhile to note that though more than 10,000 kms of roads have been blacktopped, at least another 10,000 kms need to be done so out of the 40,000 kms of graveled roads to help push business through ground transport.</div> <div> </div> <div> <span style="font-size:14px;"><strong>Power Surplus Nepal</strong></span></div> <div> Former Finance Secretary, Rameshore Khanal, is bang on, when he says, “New government should focus on power generation to boost the production since the overall productivity of the country has been affected due to the condition of power deficit. Also, new government should immediately forward some laws related to economy including banking, electricity, industries among others and it should bring special measures to attract more foreign direct investment.”</div> <div> </div> <div> Bijay Rajbhandary echoes the same spirit when he says, “Needless to mention, our country is reeling under the acute energy crisis, and in the light of the fact that Nepal has the capacity to generate hydropower sufficient to export, apart from internal consumption, there has to be some special arrangement from the government side to ensure that such projects are protected from any kind of hindrances, be that political or social.”</div> <div> </div> <div> A nation with more than 80,000 MW of hydel power producing capacity, and with immense solar and biomass power resources, has less than 1000 MW of installed capacity. Nothing can be a larger wastage of resources than this, indeed.</div> <div> </div> <div> “Power Surplus Nepal movement, engulfing enabling policy-making by the government, active domestic and foreign direct investment in this sector, a pro-active media influencing public opinion towards it and a dynamic bureaucracy, has to be the primary national mission today,” notes journalist Janardan Baral.</div> <div> </div> <div> <span style="font-size:14px;"><strong>Investments: Domestic and Foreign</strong></span></div> <div> “There are lots of investments currently held up with the hope of much anticipated stability. The election result clearly embraces free market economy and has rejected federalism based on ethnic provinces (showing inclination towards economic development). Militant workers’ union affiliation is assumed weakened that gives hope for local industries that have suffered over a decade. I have reasons to hope these foundations will be addressed in the Constitution. I hope the government will vigorously implement promises, focus on stability, invest in infrastructure and recoup the lost decade of dark era. All this will boost investor confidence that will take the country to a much awaited, rather needed, growth trajectory,” notes Managing Partner of Mathema + Partners, an architectural firm Ajaya Mathema.</div> <div> </div> <div> Taking the discourse to the policy level, Bijay Rajbhandary says, “ We need clear-cut policy for Foreign Direct Investment in Nepal that would allow a good influx of foreign capital along with their expertise that would create a good development as well as job opportunities within Nepal. Likewise, we also need a policy allowing Nepali investment in foreign land in order to explore and exploit the growth opportunities present in those countries.”</div> <div> </div> <div> <span style="font-size:14px;"><strong>Educated, Trained Nepal</strong></span></div> <div> “A major focus in the new Nepal should be on providing free and quality primary and secondary public education to all as the research shows that access to secondary education (grades 9-12) remains a major challenge, as evidenced by the disturbingly low net enrollment rate of 24 percent at this level. More than half of primary students do not enter secondary schools, and only one-half of them complete secondary schooling. In addition, fewer girls than boys join secondary schools and, among those who do join, fewer complete the 10th grade. Girls should be encouraged more to study as I believe that when a girl gets educated a family gets educated and when a family gets educated the society gets educated. Hence, the country gets educated. Alongside, to make higher education accessible at every Nepali, liberalization of the education sector leading to more and private Universities and even Distance and Open Learning Universities need to be allowed by the government changing the current policy regime in this context,” notes Amit Giri.</div> <div> </div> <div> Focusing on systemic changes within the sphere of public education in Nepal, Bijay Rajbhandary notes, “Education sector must be secluded from any kind of political interference at all levels. Besides, teaching methodologies also need to be amended giving more emphasize on general and practical knowledge and skill development rather than making it exam focused”.</div> <div> </div> <div> <span style="font-size:14px;"><strong>Media & Entertainment Sector</strong></span></div> <div> Narayan Puri, noted film-maker and the CEO of Himalaya TV, speaking on expectations of the entertainment sector, says, “We’ve been waiting for development in our industry as well. There must be given soft loan for this industry in low interest, which can happen if this sector is recognized formally as an industry by the government. We need electricity facilities as other normal industries. Further, the owners of entertainment enterprises are often been made hostage by the workers on minor issues and no security is provided for the investors. There has to be strict policy in this regard. This is largely a non-profit business as well as social awareness and information providing business. And, hence, the government should provide subsidy for this business. Different new technical equipments are required in this business so government must tax rebates in this sector. Any kind of media which gives awareness and information to the public about education, public health, etc must be encouraged by the government.”</div> <div> </div> <div> <span style="font-size:14px;"><strong>Tourism Promises</strong></span></div> <div> “With Nepal having abundant scenic beauty is already attracting many tourists from across the world but there could be an added milestone in this line with some development in tourism sector by adding Health tourism and Religious Tourism in the existing portfolio,’ Bijay Rajbhandary notes.</div> <div> </div> <div> With airborne tourists still less than a million in Nepal, and per capita spending of tourists coming below USD 40 a day, there is a long way to go indeed. Power supply, better infra-structure, better hygiene, new destinations, integrated promotion of Nepal tourism in select markets with focus on digital communication, along with enabling policy encouraging FDI in tourism as well from the government end will help make Nepal move higher from the current 112th position in world tourism revenues of nations.</div> <div> </div> <div> Rightly does Ashok Pokharel, the President of Nepal Association of Tour Operators, say, “Peace, security and physical infra-structure are the hall-marks of rapid tourism growth.” Buddhist centre of Lumbini and leading Himalayan destination Pokhara surely need international air connectivity, while Kathmandu needs faster upgradation of road infrastructure. </div> <div> </div> <div> <span style="font-size:14px;"><strong>The Last Word</strong></span></div> <table align="right" style="margin: 0px 0px 0px 10px;" width="25"> <tbody> <tr> <td> <img alt="Roshee Lamichhane, Manager, CG" src="/userfiles/images/cs5%20(Copy)(1).jpg" style="border-width: 0px; border-style: solid; width: 200px; height: 224px;" /></td> </tr> <tr> <td bgcolor="#DDDDDD"> <div align="center"> <div style="text-align: center;"> <div> <strong>Roshee Lamichhane</strong></div> <div> Manager, CG</div> </div> </div> </td> </tr> </tbody> </table> <div> “I favour national consensus government should be formed for stability in the political arena”, says Rameshore Khanal. And the national consensus government can be created only by bringing the top two largely centrist parties closer, rather together, in their mission, Nepali Congress and CPN UML, he adds.</div> <div> </div> <div> CG Manager Roshee Lamichhane, a representative young voice, notes, “New government should therefore ensure that the benefits of economic growth and development are not going to be cornered away by few influential people and businessmen or politicians but are going to be conferred among the masses and the new political regime operates the economy to make it become and remain vibrant with employment opportunities and marketable surplus. I can only envision an ever growing economy wherein the government can satisfy the Nepal’s appetite for good food, well served, at a price that even common man can afford.”</div> <div> </div> <div> Taking the discussion to another level, Ajaya Ghimire, Chairman, Ace Institute of Management, says, “I do hope however that a constitution will be written within two years. It will embrace periodic elections allowing people to choose who will govern the state. It will also embrace freedom of expressions and freedom of economic activity and constitutional right of the individual against state oppressions. But for people to truly experience those rights and freedom, we will have to wait for our society to evolve from its present feudal mindset.” Prophetic, quintessential aspiration of the moment.</div>', 'published' => true, 'created' => '2013-12-20', 'modified' => '2014-01-19', 'keywords' => 'new business age cover story news & articles, cover story news & articles from new business age nepal, cover story headlines from nepal, current and latest cover story news from nepal, economic news from nepal, nepali cover story economic news and events, ongoing cover story news of nepal', 'description' => 'The nation after its recently concluded historic polls for the next Constituent Assembly and Parliament registering 71% turnout, now expects liberal economy, business freedom, large-scale FDI and power generation, and employment promoting measures from the new Constitution and the government that comes ahead, as found by Prof Ujjwal K Chowdhury, after talking to several people from various walks of life.', 'sortorder' => '2287', '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' => '2356', 'article_category_id' => '145', 'title' => 'Nepal-India Relations Funding Hopes', 'sub_title' => '', 'summary' => null, 'content' => '<div> </div> <div> <strong>--By Madan Lamsal</strong></div> <div> </div> <div> In Nepal-India relations, clichés like ‘Multidimensional and multifarious’, ‘age old’, ‘special’, ‘historical’, ‘unique’ as well as ‘complex’ may all be true, but in reality it could be all of them combined and yet far short to encompass the entirety of this relationship. No adjective perhaps can truly reflect and represent the kind of relations that these two sovereign countries enjoy, cherish, and also despise to some extent. We have mutual trust and distrust, expectations and apprehensions, and interests and concerns, all in the same basket. Therefore, it is but natural to have hiccups, highs and lows of warmth that needed calibration, more often than not.</div> <div> </div> <div> With changing time and technology, however, more focus of these relations is being gradually condensed into two prime areas -- economic issues and security concerns. Nepal has economic concerns and security interests, and India has economic interests and security concerns, of course, with some degree of variance in interpretations. At least, it appeared so during the interactions of high officials and think tanks in India with over a dozen visiting Nepali editors of mainstream print media from Kathmandu.</div> <div> </div> <div> <span style="font-size:14px;"><strong>Trade and investment</strong></span></div> <div> Nepal is net importer, which constituted 1.03 percent of India’s US$300 billion global export in the last FY (2012/13). More than 60 per cent of Nepal’s international trade– both exports and imports – takes place with India. The concern is: Nepal’s trade deficit with India reached close to US$ 3.49 billion (2012/13) in the last fiscal year. And worse, the trade gap has been widening over the years as Nepal’s export items are fast losing both comparative and competitive advantages in the Indian market. In addition to being Nepal’s largest trade partner, India is also among the countries that have the largest foreign direct investment (FDI) and tourists coming to Nepal.</div> <div> </div> <div> But, interestingly, India didn’t seem to recognize the importance of such a big instant export market next door. Some of its policy makers like to view remittances to Nepal by the Nepalis working in India as the compensation to such whopping gap in trade balance. As Salman Khurshid, External Affairs Minister of India had said during the interaction with the editors, ‘Remittance that Nepal is receiving from India is helping balance the trade deficit between India </div> <div> and Nepal.’</div> <div> </div> <div> But remittance, by its very nature, is a different issue altogether. Several thousand Nepalis work in Indian security forces and far larger number of Nepalis work for low-paying informal sundry jobs in private homes, offices and roadside tea shops. The low paid people are in fact helping to retain the low output cost in Indian economy, thereby helping to contain inflation and maintain the country’s competitive edge. If the compensation argument is extended to the non-merchandise goods, the outflow of money from Nepal to India for education and health services could easily be comparable to the amounts of remittance inflows. It appeared during the discussions with the visiting journalists that these differences in perceptions, both on trade and remittance warrant an immediate streamlining to make them relate to reality.</div> <div> </div> <div> On investment, Indian investment to Nepal, particularly in recent years, has not been to the level of its potentials. The ‘level’ may be a relative term but not a subjective assumption here. In view of the recent and rather exponential increase of Indian FDI to other foreign countries, Nepal’s highly untapped areas for investment like clean energy and its proximity to Indian markets could have attracted much more FDI projects than it is the case now.</div> <div> </div> <div> But, as rightly pointed out by the Indian business community, problems lie on this side of the border as well. We have our own demand-side constraints -- prolonged political instability, pseudo-nationalism, lack of political will to decide. Indecision has become a culture. The worst of all, our political leadership doesn’t realize the fact that the country is lagging behind due to all these malaises. “Indian investment in Bhutan and Sri Lanka is increasing because these countries have political stability. On the other hand, Afghanistan and Nepal lack it,” said Sushanta Sen, Principle Advisor for the Confederation of Indian Industries (CII).</div> <div> </div> <div> “To attract foreign investment, Nepalis first need to invest in their own country. Rigidities in labour laws and outsourcing problems are also some of the issues that are hindering Indian investors to invest in Nepal,” he added. </div> <div> </div> <div> Very slow, punctuated progress through the bureaucratic channels in projects like Upper Karnali to be developed by the Indian energy major GMR, is often repeated example in power corridors of New Delhi as the reasons to Nepal’s inability to attract Indian investment. Though a little different story, the problems faced by United Telecom Limited (UTL) has also irked the potential Indian investors. Also, even the Indian business community feels that Nepal has not been able to convey the message that the majority of Indian companies now operating in Nepal are doing very well.</div> <div> </div> <div> In every respect, each South Asian nation has some expectations from India. One of such expectations from India’s neighbours is the revival of the Gujaral Doctrine, initiated by the Late Indian Prime Minister Inder Kumar Gujaral in the mid 1990s. The doctrine proposed that India wouldn’t seek reciprocity with neighbours like Nepal but would help them through all means it could in good faith and trust. </div> <div> </div> <div> <div> But for India, the country projected to be the third largest economy of the world over the next 15 years or so, it is certainly not easy to meet all the expectations of its neighbours. Naturally, India has its commitments beyond the region. “India has to fulfill its commitments already made for Africa, Sri Lanka, Bangladesh and Maldives,” said Khurshid. These commitments range from cultural and educational scholarships to financial and technical support for development. “There is equally huge commitment elsewhere as well for FDI,” Sen of CII echoed Minister Khurshid, in a different meeting. “Once the new government is formed [in Nepal], more investment is likely to flow from India to Nepal,” hoped Sen. </div> <div> </div> <div> Isn’t BIPPA with Nepal a milestone? In theory, Indian business community agrees that it is a great achievement, but in practice, everybody is keen to first test the ground realities. </div> <div> </div> <div> <span style="font-size:14px;"><strong>The China Factor </strong></span></div> <div> In viewing China, the Indian perspective is apparently dichotomous between the so called new and old schools of thought. The new school of thought believes that there is no alternative to having the best possible relations with China. Today, China is one of India’s largest trade partners. In the last fiscal year, 11 percent of India’s imports and six percent exports were with China. The Indian concern at present is the growing trade deficit with China which stood at nearly $ 47 billion in 2012/13. As both countries are members of the BRIC group of emerging economies, their trade volume is bound to grow. Indian Prime Minister Manmohan Singh’s visit to China last October has proposed a new trade corridor of Bangladesh-China-India-Myanmar (BCIM). “The corridor will surely release enormous growth energy and provide new vitality for the Asian economic integration and global growth,” Chinese Foreign Minister Wang Yi was quoted on this issue some time ago. Nepal here missed the boat to be in this group, for whatever reason. The new reality is: India and China are becoming closer than ever before, where Nepal has very little influence on the process.</div> <div> </div> <div> But the old school in India is still apprehensive about the “increasing activities of China in Nepal”. They have problems with Nepal willing to maintain the policy of equi-distance with India and China. TP Sreenivasan, Director General of Kerala International Centre (a think tank) clearly said that Nepal cannot have the same relation with China as with India. “How can somebody marry with one and try to maintain similar kind of relation with another?” he questions. But in diplomacy, relations between two countries are not like a marriage. </div> <div> </div> <div> For reasons of geographical, cultural and historical proximities, Nepal may appear more tilted to India, but at the policy level it is rather naive to expect sort of surrendered tilt at the cost of what is called balanced diplomacy.</div> <div> </div> <div> India’s major concern is, understandably, security and it doesn’t want any threat to security to come from across the border. Ashok K Behuria, Coordinator of the Delhi-based Institute for Defense Studies and Analyses, claimed that there is an anti-social element in Nepal especially in the Madhesh region which has been fuelling anti-India feelings in the Himalayan nation. Indian authorities and policy analysts are also concerned over the growing number of Madarsa schools along the bordering areas such as Nepalgunj. They think that such Madarsas might be used by extremist religious elements for activities that are hostile to India and things can go wrong. Madarsas could also create problems for Nepal in the future, they add. </div> <div> </div> <div> <span style="font-size:14px;"><strong>Nepal’s Political Roadmap</strong></span></div> <div> Like in Nepal, in India too, there is general happiness over the successful completion of the second CA election in November and hope that Nepal’s new constitution will now be written. The Indian politicians as well as top bureaucrats have hailed the high voters’ turnout in the election. They were not mincing words to praise the Nepali people, the Election Commission, security agencies and all other stakeholders for holding the election successfully. Foreign Minister Khurshid and Indian Foreign Secretary Sujatha Singh remarked that the election was ‘historic’ and expressed hope that Nepal would now get the new constitution on time. They also urged all political parties in Nepal, including the UCPN (Maoist) to respect the people’s verdict and work together to draft the new Constitution. However, they also cautioned that the issue of making the new constitution should not overshadow the issue of peace and development which is no less important.</div> <div> </div> <div> On the issue of federalism, the Indian establishment has clearly said that Nepal can have its own model of federal structure as decided by the people of Nepal. This sentiment was echoed at the luncheon meeting with the Indian media where former ambassadors to Nepal Jayanta Prasad, Shiv Shankar Mukherjee, and Deb Mukherjee, among others, were present. Their collective view was that India doesn’t want to impose any federal model on Nepal. In fact, the advice was not to follow the flawed Indian model of carving out newer States incessantly. They also remarked that Nepal is moving forward in the right political direction. </div> <div> </div> </div> <div> <em>(Lamsal is the Chairman and Editor-in-Chief of New Business Age Pvt Ltd.)</em></div>', 'published' => true, 'created' => '2013-12-30', 'modified' => '2014-01-19', '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' => 'In Nepal-India relations, clichés like ‘Multidimensional and multifarious’, ‘age old’, ‘special’, ‘historical’, ‘unique’ as well as ‘complex’ may all be true, but in reality it could be all of them combined and yet far short to encompass the entirety of this relationship. No adjective perhaps can truly reflect and represent the kind of relations that these two sovereign countries enjoy, cherish, and also despise to some extent. We have mutual trust and distrust, expectations and apprehensions, and interests and concerns, all in the same basket. Therefore, it is but natural to have hiccups, highs and lows of warmth that needed calibration, more often than not.', 'sortorder' => '2286', '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' => '2316', 'article_category_id' => '91', 'title' => 'Muktishree’s Investment Plan', 'sub_title' => '', 'summary' => null, 'content' => '<div> <img alt="Muktishree" src="/userfiles/images/MN1.jpg" style="float: right; margin: 0px 0px 0px 10px; width: 200px; height: 139px;" />Muktishree Pvt Ltd has come up with an assertive plan of injecting a total of Rs 23.5 billion in various ambitious projects. The company has also targeted to create a total of 10,000 jobs through the investment. Currently, it has provided employment opportunity to around 1,500 people. </div> <div> </div> <div> Chairman of Muktishree Pvt Ltd Ajeya raj Sumargi on Sunday unveiled the business diversification plan of the company. According to him, hydropower, hotel and cement industry are new areas of investment of the company. It has already involved in telecom and drinking water business. </div> <div> </div> <div> The company has already invested in various projects including Hetauda Mines Industry, Everest Minerals Products, Durga Cold Storage, Himalayan Spring Water, Inco Panel Industries, Hetauda Education Foundation, National College of Higher Education and Yeti Development Bank. </div>', 'published' => true, 'created' => '2013-12-23', 'modified' => '2014-01-10', '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' => 'Muktishree Pvt Ltd has come up with an assertive plan of injecting a total of Rs 23.5 billion in various ambitious projects. The company has also targeted to create a total of 10,000 jobs through the investment. Currently, it has provided employment opportunity to around 1,500 people.', 'sortorder' => '2285', '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
