CPN-Maoist Accepts HLPC Invitation For Talk

Nov 30, -0001 0 1 minutes 31 seconds to read

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‘We Make Sure That Projects Are Not Owned By Heifer But By People’

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Nepal And The World News In Brief (22-28 July 2013)

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Nepal Behind Afghanistan In FDI Inflow

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India Relaxes FDI Norms To Boost Slowing Growth

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Target 7 Percent Growth (22-28 July 2013)

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No Laughing Matter

The Sweet Rewards of Power

By Madan Lamsal

. . .
read more »

NEPSE

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	<strong><span style="font-size: 12px;">--By TC Correspondent</span></strong></div>
<div>
	&nbsp;</div>
<div>
	The CPN-Maoist led alliance of 33 parties has agreed to sit for a dialogue with the High Level Political Mechanism. The decision of 33 dissident parties to agree for a dialogue with the HLPC has come following a formal invitation dispatched by the HLPC coordinator Pushpa Kamal Dahal on Wednesday. The CPN-Maoist leader Secretary Dev Gurung, who is also in a 5-member talk team formed by his party, informed that the dissident alliance has accepted the invitation of the HLPC to sit for negotiations &ldquo;free from any conditions&rdquo;.&nbsp;</div>
<div>
	&nbsp;</div>
<div>
	Meanwhile, the government has also sent an official letter to the CPN-Maoist Chairperson Mohan Baidya on Friday inviting his and other 32 dissenting parties for the talks.&nbsp;</div>
<div>
	&nbsp;</div>
<div>
	Welcoming the step of forming a five-member talks committee by the CPN-Maoist, the government in its letter has said, &ldquo;We have a firm belief that every problem can be resolved through dialogue and discussion. Hence, we would like to invite you and your allies for a dialogue.&rdquo;&nbsp;</div>
<div>
	&nbsp;</div>
<div>
	According to the letter, the time and venue for talks can be determined through mutual understanding.&nbsp;</div>
<div>
	&nbsp;</div>
<div>
	This is the second letter from the government to the poll-opposing parties asking them to sit for talks.&nbsp;</div>
<div>
	&nbsp;</div>
<div>
	The CPN-Maoist led alliance with 32 other parties is protesting against the government announcement to hold the election. The alliance has been demanding that the 11-point and the 25-point agreements reached to remove constitutional difficulties be scrapped. Likewise, the alliance has also pressing for holding the Round Table Conference to settle political and constitutional complications.</div>
<div>
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			'description' => 'The decision of 33 dissident parties to agree for a dialogue with the HLPC has come following a formal invitation dispatched by the HLPC coordinator Pushpa Kamal Dahal on Wednesday.',
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			'article_category_id' => '161',
			'title' => '‘We Make Sure That Projects Are Not Owned By Heifer But By People’',
			'sub_title' => '',
			'summary' => null,
			'content' => '<div>
	<span style="font-size: 12px;"><img alt="Dr Shubh N Mahato,Country Director of Heifer International Nepal." src="/userfiles/images/Dr%20Shubh%20N%20Mahato.jpg" style="float: left; margin: 0px 10px 0px 0px;width: 150px; height: 182px;" /><span style="font-size:14px;"><em>Dr Shubh N Mahato</em> is the <em>Country Director</em> of <em>Heifer International Nepal</em>. Heifer has recently announced its strategic plans for the next ten years. The plans are in line with the organisation&rsquo;s area of work &ndash; agriculture, livestock, poverty reduction and livelihood enhancement of 500,000 households across 28 districts. In an interview with Gaurav Aryal of The Corporate, Mahato talked about long term programmes and their sustainability. <strong>Excerpts:</strong></span><strong>&nbsp;</strong></span></div>
<div>
	&nbsp;</div>
<div>
	<strong>How is Heifer International&rsquo;s new 10 years strategic plan different than that of the past?&nbsp;</strong></div>
<div>
	Earlier we used to make strategic plans for five years. Earlier, Heifer&rsquo;s staff were mobilised along with the participation of stakeholders. We used to have certain targets and strategies were formulated to achieve them. Then we used to design projects targeting up to 500 households. And, NGOs would take up sub projects to be implemented in their working areas.&nbsp;</div>
<div>
	&nbsp;</div>
<div>
	Now, we involve more on situation analysis of the country and identify the gaps in the sector where Heifer works and how Heifer can fill it. We also look at government priorities in the sector where Heifer works while doing situation analysis and find out areas where our strength lies and where we can contribute best to derive optimum benefits for people. Similarly, instead of projects, we will formulate programmes under which projects will cater to at least 1000 families. Rather than five years, now we are making 10 years strategic plan on the basis of nation&rsquo;s priorities, actual situation analysis and value chain studies.&nbsp;</div>
<div>
	&nbsp;</div>
<div>
	<strong>How do you plan to reduce the duplication of the projects under the new plan?&nbsp;</strong></div>
<div>
	It is not an easy task but we are also concerned about it. There are heavy investments made by different organisations in the projects of similar nature that generate few returns. Our sub-projects are implemented in the VDC level. In coordination with the concerned VDC, we try to find what other projects are being implemented there. We also ensure that the projects are not owned by Heifer or an NGO but by that VDC. But, for that, out of the total size of the project, 25 per cent must be contributed by the VDC. As VDC is handed over the responsibilities for project implementation, they will merge similar projects with similar targets by other organisations. As the projects are made in VDC&rsquo;s coordination and implemented and monitored by them, it would largely help to reduce duplication. We started this model from April, 2012 and will be continued also in the future projects.&nbsp;</div>
<div>
	&nbsp;</div>
<div>
	<strong>How do you ensure that the benefits of projects you implement continue even after the project comes to an end?&nbsp;</strong></div>
<div>
	When we design projects we make sure that projects are not owned by Heifer but they are people&rsquo;s project. Local people must take the ownership through the self help groups. If the members of the groups are not willing to help themselves, we do not work there. They must have commitments like compulsory monthly savings and utilising that in productive works. None of the projects of Heifer is longer than two to three years. In many cases I have found that the real impacts of the projects begin after that. Activities like compulsory savings are there to stay once it becomes people&rsquo;s culture. We encourage people to affiliate their groups to cooperatives and tie up with the banks so that it would help them to further expand their business. Such activities make a project sustainable. When the local bodies, VDC and stakeholders are the part of the project, usually the projects become sustainable.&nbsp;</div>
<div>
	&nbsp;</div>
<div>
	<strong>How does Heifer International ensure the transparency of mobilised funds?&nbsp;</strong></div>
<div>
	For this purpose, a project management and implementation committee is formed with representatives from beneficiaries and stakeholders, self help groups, VDC, donors, NGOs and Heifer. This committee has the records of the details of the funds coming for the particular project from a particular source. Monitoring and evaluation of the projects is done at the local level by this committee. This has helped to maintain transparency. Similarly, NGOs responsible for project implementation, must regularly report to us and the Heifer regularly carries out financial monitoring and auditing. If we find any irregularities, we have a zero tolerance policy towards such activities. Such measures have helped maintain high transparency and accountability of resource mobilisation.</div>
<div>
	&nbsp;</div>',
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			'description' => 'Dr Shubh N Mahato is the Country Director of Heifer International Nepal. Heifer has recently announced its strategic plans for the next ten years. The plans are in line with the organisation’s area of work – agriculture, livestock, poverty reduction and livelihood enhancement of 500,000 households across 28 districts. In an interview with Gaurav Aryal of The Corporate, Mahato talked about long term programmes and their sustainability.',
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			'id' => '1457',
			'article_category_id' => '139',
			'title' => 'Nepal And The World News In Brief (22-28 July 2013)',
			'sub_title' => '',
			'summary' => null,
			'content' => '<div>
	<strong><img alt="China Seen Surpassing US in Superpower Shift" src="/userfiles/images/china.jpg" style="float: left; margin: 0px 10px 0px 0px;width: 125px; height: 73px;" />China Seen Surpassing US in Superpower Shift&nbsp;</strong></div>
<div>
	A new Pew Research Center survey of 38,000 people in 39 countries found the widespread belief that China is well on its way. Overall, a majority or plurality of respondents in only six of the countries surveyed believe the U.S. will remain on top. In both the United States and China, an increasing number of respondents agree with this thesis. (Agency)&nbsp;</div>
<div>
	&nbsp;</div>
<div>
	<strong><img alt="Detroit Files for Bankruptcy" src="/userfiles/images/detroit.jpg" style="float: right; margin: 0px 0px 0px 10px;width: 125px; height: 83px;" />Detroit Files for Bankruptcy&nbsp;</strong></div>
<div>
	Detroit, known as the center of US auto industry filed for bankruptcy Thursday, becoming the nation&rsquo;s largest public sector bankruptcy. The move could slash pension benefits to city workers and retirees, and leave bond holders with only pennies on the dollar. The city faces total liabilities of about $18 billion. (Agency)&nbsp;</div>
<div>
	&nbsp;</div>
<div>
	<strong><img alt="Strauss-Kahn" src="/userfiles/images/Strauss-Kahn.jpg" style="float: left; margin: 0px 10px 0px 0px; width: 85px; height: 110px;" />Strauss-Kahn Joins Rosneft bank&nbsp;</strong></div>
<div>
	Two years after resigned as head of the International Monetary Fund (IMF), Dominique Strauss-Kahn has joined the supervisory board of the bank owned by Russia&rsquo;s largest oil company, Rosneft, the bank said last Monday.The 64-year-old Frenchman was appointed one of the 11 board members of the Russian Regional Development Bank, a subsidiary of the state oil company, a bank spokeswoman said. Strauss-Kahn resigned from the IMF in 2011 after a New York hotel maid accused him of rape. (The Hindu Business Line)&nbsp;</div>
<div>
	&nbsp;</div>
<div>
	<strong><img alt="Gold" src="/userfiles/images/Gold.jpg" style="float: right; margin: 0px 0px 0px 10px; width: 125px; height: 89px;" />Gold Up on 2nd Straight Week&nbsp;</strong></div>
<div>
	Gold rose on Friday to notch its second weekly gain after many investors were soothed by the Federal Reserve&rsquo;s assurance this week that it will be careful in tapering its economic stimulus. The spot price of bullion hovered near $1,295 an ounce and U.S. gold futures for August delivery settled at $1,292.90 an ounce.&nbsp;</div>
<div>
	&nbsp;</div>
<div>
	<strong><img alt="G20" src="/userfiles/images/G20.jpg" style="float: left; margin: 0px 10px 0px 0px; width: 125px; height: 83px;" />G20 Puts Growth Before Austerity&nbsp;</strong></div>
<div>
	The Group of 20 nations put growth ahead of austerity, seeking to rebalance a multi-speed global economy and pledging to shift policy carefully so recovery is not derailed by volatile financial markets. Finance ministers and central bank governors meeting in Moscow on Saturday put the finishing touches to a joint communique. (Agency)</div>
<div>
	&nbsp;</div>',
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			'description' => 'A new Pew Research Center survey of 38,000 people in 39 countries found the widespread belief that China is well on its way.',
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			'id' => '1456',
			'article_category_id' => '138',
			'title' => 'Nepal Behind Afghanistan In FDI Inflow',
			'sub_title' => '',
			'summary' => null,
			'content' => '<div>
	<span style="font-size: 12px;">Nepal is trying to lure Foreign Direct Investment (FDI) in various sectors. The Foreign Direct Investment Policy Draft 2013 has suggested active economic diplomacy and transparency to attract more FDI in the country. It has prioritised hydropower, mines and minerals related industries, agriculture and herbs processing, infrastructure development and tourism for FDI. Fast track road, railway, tunnel way, cable car, metro, flyover and international airports have been identified under the infrastructure heading in the FDI Policy Draft. The draft has also fixed a minimum floor of US$ 200,000 for FDI, whereas in hydropower the project should be of at least 30MW to be allowed for FDI.&nbsp;</span></div>
<div>
	&nbsp;</div>
<div>
	However, the lengthening of political transition is taking a toll on FDI inflow in Nepal. According to a report by United Nations Conference on Trade and Development (UNCTAD), Nepal remains one of the worst performers in South Asia to attract FDI. Nepal saw a decline of FDI inflow by 2.85 per cent in 2012. UNCTAD&rsquo;s World Investment Report 2013 informed that Nepal attracted FDI worth US$ 92 million, against the 2011 figure of US$ 95 million. Nepal stood second from bottom in FDI inflow index in 2012 in the region, ahead only of Bhutan. Nepal&rsquo;s performance was poorer than even Afghanistan.&nbsp;</div>
<div>
	&nbsp;</div>
<div>
	The country&rsquo;s poor performance has put a big question mark on Nepal government&rsquo;s efforts. Attracting foreign investment is a strategic agenda for Nepal. The government has long reiterated and pledged policies aiming to lure FDI. However, political instability, inefficient bureaucracy, corruption, lack of infrastructure, restrictive labour regulation etc makes Nepal one of the least competitive economy in the world thereby unable to attract potential FDI. Despite the announcement of Nepal Investment Year 2012-13 and formation of Nepal Investment Board, the prospects of FDI inflow looks bleak in the foreseeable future.</div>
<div>
	&nbsp;</div>',
			'published' => true,
			'created' => '2013-07-22',
			'modified' => '0000-00-00',
			'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 is trying to lure Foreign Direct Investment (FDI) in various sectors. The Foreign Direct Investment Policy Draft 2013 has suggested active economic diplomacy and transparency to attract more FDI in the country.',
			'sortorder' => '1317',
			'image' => null,
			'article_date' => '0000-00-00 00:00:00',
			'homepage' => false,
			'breaking_news' => false,
			'main_news' => false,
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		'Article' => array(
			'id' => '1455',
			'article_category_id' => '137',
			'title' => 'India Relaxes FDI Norms To Boost Slowing Growth',
			'sub_title' => '',
			'summary' => null,
			'content' => '<div>
	&nbsp;</div>
<div>
	India has relaxed foreign direct investment (FDI) rules across several industries, including telecoms, single brand retail and oil and gas, in a bid to lure capital inflows, prop up a sliding currency and accelerate growth. India&rsquo;s weakest economic growth in a decade and a record high current account deficit have made the rupee the worst-performing emerging Asian currency so far this year. The changes will have to be approved by India&rsquo;s cabinet before they become law, although that is seen as a formality. Here are the sectors in which FDI caps will be revised:&nbsp;</div>
<div>
	&nbsp;</div>
<div>
	<strong>Telecoms&nbsp;</strong></div>
<div>
	The FDI cap on the telecoms sector was raised to 100 percent from 74 percent. While a foreign company can buy up to a 49 percent stake in an Indian phone carrier without seeking approval from the Foreign Investment Promotion Board(FIPB), any investment beyond that will need the country&rsquo;s foreign investment regulator&rsquo;s nod.&nbsp;</div>
<div>
	&nbsp;</div>
<div>
	<strong>Petroleum and Natural Gas&nbsp;</strong></div>
<div>
	The FDI cap for the sector was left unchanged at 49 percent, but foreign investment up to 49 percent will no longer require FIPB approval.&nbsp;</div>
<div>
	&nbsp;</div>
<div>
	<strong>Insurance&nbsp;</strong></div>
<div>
	Foreign investment up to 49 percent in insurers will not require the government&rsquo;s approval. The foreign investment limit in the sector is currently capped at 26 percent. A bill to raise the cap to 49 percent is stuck in parliament.&nbsp;</div>
<div>
	&nbsp;</div>
<div>
	<strong>Defence Production&nbsp;</strong></div>
<div>
	There was effectively no change in the FDI cap of 26 percent in the defence sector, although trade minister Anand Sharma said a cabinet panel would consider any FDI proposal for investment above 26 percent in state-of-the-art technology.&nbsp;</div>
<div>
	&nbsp;</div>
<div>
	<strong>Retail&nbsp;</strong></div>
<div>
	FDI up to 49 percent in the single-brand retail sector will no longer require the FIPB&rsquo;s approval. The government also said it will issue clarifications soon on its FDI policy for supermarkets.&nbsp;</div>
<div>
	&nbsp;</div>
<div>
	<strong>Commodity, Power and Stock Exchanges&nbsp;</strong></div>
<div>
	Foreign investment of up to 49 percent will not require the government&rsquo;s approval.&nbsp;</div>
<div>
	&nbsp;</div>
<div>
	<strong>Asset Reconstruction Companies&nbsp;</strong></div>
<div>
	India will allow FDI up to 49 percent with no government approval, but foreign investors will need FIPB approval to buy a bigger stake in an Indian asset reconstruction company.&nbsp;</div>
<div>
	&nbsp;</div>
<div>
	<strong>Courier Services&nbsp;</strong></div>
<div>
	Foreign investors can now invest up to 100 percent in the courier services sector and will not need government approval.&nbsp;</div>
<div>
	&nbsp;</div>
<div>
	<strong>Credit Information Companies&nbsp;</strong></div>
<div>
	India will allow up to 74 percent FDI in credit information companies, with no need to seek government approval for investments up to that level.&nbsp;</div>
<div>
	&nbsp;</div>
<div>
	<strong>Civil Aviation and Media&nbsp;</strong></div>
<div>
	The government left FDI caps in civil aviation and media unchanged at 49 percent and 26 percent respectively.&nbsp;</div>
<div>
	<em>(Agency)</em></div>
<div>
	&nbsp;</div>',
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			'description' => 'India has relaxed foreign direct investment (FDI) rules across several industries, including telecoms, single brand retail and oil and gas, in a bid to lure capital inflows, prop up a sliding currency and accelerate growth. India’s weakest economic growth in a decade and a record high current account deficit have made the rupee the worst-performing emerging Asian currency so far this year.',
			'sortorder' => '1316',
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	(int) 5 => array(
		'Article' => array(
			'id' => '1454',
			'article_category_id' => '136',
			'title' => 'Target 7 Percent Growth (22-28 July 2013)',
			'sub_title' => '',
			'summary' => null,
			'content' => '<div>
	<img alt="Baburam Gautam Assistant Auditor General, Office of the Auditor General (OAG)" src="/userfiles/images/Baburam%20Gautam.jpg" style="float: left; margin: 0px 10px 0px 0px;width: 100px; height: 120px;" /><strong>Baburam Gautam</strong></div>
<div>
	<em>Assistant Auditor General, Office of the Auditor General (OAG)&nbsp;</em></div>
<div>
	&nbsp;</div>
<div>
	Attaining 7 per cent economic growth is not a farfetched target. Firstly, there should be a focus on increasing investment in productive sectors, creation of investment friendly environment, development of human resources and inculcation of financial discipline. A huge amount of government budget is spent in unproductive sectors and, it must be decreased. Distributive and consumptive economic management will make it difficult to attain good economic growth. Both the government and the private sector must increase capital investment in the productive sector. For that, there must be assurance of investment security to attract foreign investments. Similarly, a large number of youths are going abroad and it is adversely affecting the country&rsquo;s development. This young work-force should be able to find employment within the country and they should be mobilised in the productive sector. Government is investing Rs 40-50 billion annually in public enterprises most of whom are making loss. This shows a lack of vision. Likewise, tax is not being used properly and thus, people are unwilling to come under the tax bracket. If economic discipline can be maintained, 7 per cent economic growth is possible to achieve.</div>
<div>
	&nbsp;</div>
<div>
	<img alt="Surendra Bir Malakar General Secretary National Business Initiative (NBI)" src="/userfiles/images/Surendra%20Bir%20Malakar.jpg" style="float: left; margin: 0px 10px 0px 0px;width: 100px; height: 121px;" /><strong>Surendra Bir Malakar</strong></div>
<div>
	<em>General Secretary&nbsp;</em></div>
<div>
	<em>National Business Initiative (NBI)&nbsp;</em></div>
<div>
	&nbsp;</div>
<div>
	There are many issues that need to be settled for Nepal to achieve 7 per cent growth. While some of the issues are political, others are economic. Political parties may have differences in ideologies but they should come together to address economic problems facing the country.&nbsp;</div>
<div>
	&nbsp;</div>
<div>
	The government should concentrate on building physical infrastructure to attract investment. As the economy is afloat only due to remittances, the government should give incentives to businesses that produce export-quality goods. Hydropower holds the key to Nepal&rsquo;s future. If energy is generated through domestic and foreign investment, big strides can be taken in every field.</div>',
			'published' => true,
			'created' => '2013-07-22',
			'modified' => '2013-07-22',
			'keywords' => 'the corporate weekly from Nepal, nepali corporate events – news – interviews – reviews, nepali corporate focus, nepali corporate status and news, news from nepali corporate industry, corporate happenings – events – news from nepal',
			'description' => 'Attaining 7 per cent economic growth is not a farfetched target. Firstly, there should be a focus on increasing investment in productive sectors, creation of investment friendly environment, development of human resources and inculcation of financial discipline.',
			'sortorder' => '1315',
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	(int) 6 => array(
		'Article' => array(
			'id' => '1453',
			'article_category_id' => '135',
			'title' => 'FY 2013-14 Budget: Positive Towards Every Sector',
			'sub_title' => '',
			'summary' => null,
			'content' => '<div>
	<span style="font-size:14px;">Fiscal Year 2013-14 budget of the government has given positive signals towards every sector as it has considered the demands and suggestions from different sectors. The positive signals emanate primarily from the fact that it is the first full-fledged budget brought out before the beginning of the fiscal year in the last three years. Some experts, however, expressed their dissatisfactions over the programmes introduced by the government. The Corporate has gathered views from experts and business communities regarding Budget 2013-14. <strong>Excerpts:</strong></span></div>
<div>
	&nbsp;</div>
<div>
	<img alt="Sekhar Golchha President Nepal Automobile Dealers’ Association (NADA" src="/userfiles/images/shekhar%20golcha.jpg" style="float: left; margin: 0px 10px 0px 0px;width: 100px; height: 126px;" /><strong>Sekhar Golchha&nbsp;</strong></div>
<div>
	<em>President&nbsp;</em></div>
<div>
	<em>Nepal Automobile Dealers&rsquo; Association (NADA)&nbsp;</em></div>
<div>
	Full-fledged budget was not introduced since long. This year, the government introduced full- fledged budget and we think this is a good beginning. A full-fledged budget, despite its shortcomings, will help economy to move forward. We had requested the government to reduce the tax levied on automobiles but government did not do that. Except on alcohol and tobacco, the government has not changed the tax on goods. In this context, there is no space to show our dissatisfaction to the government. If taxes were decreased, it would have helped to increase the economy. Budget has targeted to provide roads to every district, which will have positive impact on business of automobiles. Actually, roads and transportation are the key element for economic growth.</div>
<div>
	&nbsp;</div>
<div>
	<img alt="Ashok Temani Immediate Past President Birgunj Chamber of Commerce and Industry (BiCCI)" src="/userfiles/images/Ashok%20Temani.jpg" style="float: left; margin: 0px 10px 0px 0px;width: 100px; height: 116px;" /><strong>Ashok Temani&nbsp;</strong></div>
<div>
	<em>Immediate Past President&nbsp;</em></div>
<div>
	<em>Birgunj Chamber of Commerce and Industry (BiCCI)&nbsp;</em></div>
<div>
	Budget has covered every aspect. It has focused on physical infrastructure, including energy which is quite positive and commendable. It is worth mention here that five percent economic growth is possible if the major provisions of the budget are implemented effectively. The budget has earmarked money to construct infrastructure for railway, build international airport at Nijgadh, generation of electricity and transmission lines for electricity. These are some instances of development friendly budget allocation. Similarly, government has promised to implement &lsquo;One Village One Product Programme&rsquo;, to develop the agricultural business and to build a ware-house in Kolkata to ease foreign trade.</div>
<div>
	&nbsp;</div>
<div>
	<img alt="Barsha Man Pun,Former Finance Minister" src="/userfiles/images/Barsha%20Man%20Pun.jpg" style="float: left; margin: 0px 10px 0px 0px;width: 100px; height: 115px;" /><strong>Barsha Man Pun</strong></div>
<div>
	<em>Former Finance Minister&nbsp;</em></div>
<div>
	The government has brought programmes violating earlier agreement with the political parties. The size of the budget is quite big and Rs 16 million allocated to hold elections is not justifiable. There is a high chance of manipulation of such a big amount. Political parties had suggested the government to allocate Rs 10 million for the purpose of election. Despite being an election government, this government has brought a number of populist programmes. Similarly, long- term programmes have been added to the budget. It shows that the government is trying to lengthen its tenure.</div>
<div>
	&nbsp;</div>',
			'published' => true,
			'created' => '2013-07-22',
			'modified' => '0000-00-00',
			'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' => 'Fiscal Year 2013-14 budget of the government has given positive signals towards every sector as it has considered the demands and suggestions from different sectors. The positive signals emanate primarily from the fact that it is the first full-fledged budget brought out before the beginning of the fiscal year in the last three years.',
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	(int) 7 => array(
		'Article' => array(
			'id' => '1452',
			'article_category_id' => '117',
			'title' => 'Comments Regarding Budget Of FY 2013/14 From Different Sectors',
			'sub_title' => '',
			'summary' => null,
			'content' => '<div>
	<span style="font-size:14px;"><strong><img alt="The Federation of Nepalese Chamber of Commerce and Industry (FNCCI)" src="/userfiles/images/FNcci.jpg" style="float: left; margin: 0px 10px 0px 0px; width: 200px; height: 218px;" /><span style="font-size:16px;">&lsquo;FNCCI Welcomes Budget&rsquo;</span>&nbsp;</strong></span></div>
<div>
	&nbsp;</div>
<div>
	Nepal has not had a full -fledged budget since long. The Federation of Nepalese Chamber of Commerce and Industry (FNCCI) is thankful to Finance Minister Shanker Koirala who announced a full -fledged budget of Rs 517.24 billion for the year 2013/14 which will stimulate the national economy. The budget speech set priorities as per recommendations from different quarters and the government has accepted the private sector as a backbone of the economy. The federation also praised the budget for providing more funds to &lsquo;One Village, One Product&rsquo; and &lsquo;One District, One Product&rsquo; programmes promoted by FNCCI.&nbsp;</div>
<div>
	&nbsp;</div>
<div>
	Though the budget has given priority to the development of infrastructure and hydropower along with power transmission line, it lacks incentives for export-oriented industries and substantial programmes to address the existing energy crisis, said the key speakers at a press meet organized by FNCCI. The apex body of the Nepali private sector has said that though the budget holds good long- term programmes for energy supply, it does not encourage private power producers to address energy crisis in the short term.&nbsp;</div>
<div>
	&nbsp;</div>
<div>
	FNCCI also expressed its dissatisfaction on the government&rsquo;s lack of attention on export promotion and import substitutions. The body had urged for reimbursement from the government of VAT paid by private power producers and for reviewing the PPA rates. The government, however, has remained silent in meeting these demands. It has also remained silent in channeling remittance money for hydropower projects, complains FNCCI. Overall, the FNCCI is quite positive regarding the budget and has stated that proper implementation of the budget is the main challenge for government.</div>
<div>
	&nbsp;</div>
<div>
	<span style="font-size:14px;"><strong><img alt="The Confederation of Nepalese Industries (CNI)" src="/userfiles/images/CNI.jpg" style="float: right; margin: 0px 0px 0px 10px; width: 200px; height: 191px;" /><span style="font-size:16px;">&lsquo;CNI Sees Budget as Positive&rsquo;&nbsp;</span></strong></span></div>
<div>
	&nbsp;</div>
<div>
	The Confederation of Nepalese Industries (CNI) has welcomed the budget of FY 2013/14 terming it encouraging to the country&rsquo;s economy. The CNI praised the budget for addressing many of the demands of the private sector. The confederation also thanked the government for introducing a private-sector friendly budget. It is optimistic regarding the budget as besides being focused on holding the election to the Constituent Assembly, the government showed concern towards investment promotion, industrial infrastructure development, resolution of power woes, export promotion and the development of industrial estates and special economic zones (SEZs) with the aim of speeding up economic growth. The CNI, however, expressed its dissatisfaction for the government not paying attention to ease the immediate energy shortages.</div>
<div>
	&nbsp;</div>
<div>
	<span style="font-size:14px;"><strong><img alt="Birgunj Chamber of Commerce &amp; Industry (BiCCI)," src="/userfiles/images/BICCI.jpg" style="float: left; margin: 0px 10px 0px 0px;width: 200px; height: 199px;" /><span style="font-size:16px;">Budget Tries to Address Private Sector&rsquo;s Demands: BiCCI&nbsp;</span></strong></span></div>
<div>
	&nbsp;</div>
<div>
	According to the Birgunj Chamber of Commerce &amp; Industry (BiCCI), FY 2013-14 budgets has addressed the demands of the private sector. The budget has tried to give a proper direction to economic policies. As the government was not able to bring full-fledged budgets on time, there is hope from the current budget which is brought in time. The BCCI welcomes the decision of the government to honour investors who invest Rs 1 billion, to give continuity to Integrated Check Post (ICP) construction in Birgunj and generation of hydro electricity and development of transmission lines.&nbsp;</div>
<div>
	&nbsp;</div>
<div>
	BiCCI has also welcomed that the government has also included in the budget funds for the construction of Birgunj- Pathlaiya six-lane highway, the establishment of Kathmandu-Terai fast track. Nevertheless, the budget is silent on the issue of increasing trade deficit and disequilibrium in imports and exports, as it focuses mainly on imports rather than exports. The government also did not address the demand of concession in VAT for domestic industries.</div>
<div>
	&nbsp;</div>
<div>
	<span style="font-size:14px;"><strong><img alt="Federation of Nepal Cottage and Small Industries (FNCSI)" src="/userfiles/images/fncsi.jpg" style="float: right; margin: 0px 0px 0px 10px;width: 200px; height: 173px;" /><span style="font-size:16px;">&lsquo;FNCSI Expresses Satisfaction at the Budget&rsquo;</span></strong></span></div>
<div>
	&nbsp;</div>
<div>
	Federation of Nepal Cottage and Small Industries (FNCSI) considered the budget to be quite satisfactory because it has addressed the needs and demands of the private sector. The budget has also included the suggestions of industrial sectors which is quite encouraging, says FNCSI. Similarly, it has included plan to prepare the industrial profile of all 75 districts, constructing a new exhibition centre in Kathmandu and international level industrial and trading exhibition centres in Chobhar. The budget gives priority to creating an investment-friendly environment and includes constructing the Nepal Industrial Center in Kathmandu with the cooperation of the government and the private sector. Similarly, it prioritizes in establishing an auction house in Nepalgunj for herbs and a tea auction house in Illam and gives importance to the agriculture and energy sectors. The government aims to make Nepal a developing country along with attaining high economic growth by 2022. The FNCSI has also pointed out the negative points of the budget including ensuring financial access for micro, cottage and small industries. The budget did not introduce clear policies and programmes for increase in export, import substitution and the promotion of micro, cottage and small industries to control trade deficit. The budget did not work on the suggestions given by FNCSI for the promotion and development of micro, cottage and small industries, says FNCSI.</div>',
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			'description' => 'Comments Regarding Budget Of FY 2013/14',
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	(int) 8 => array(
		'Article' => array(
			'id' => '1451',
			'article_category_id' => '122',
			'title' => 'New Beginnings For Incentive Tours And Travels',
			'sub_title' => '',
			'summary' => null,
			'content' => '<div>
	&nbsp;</div>
<div>
	&nbsp;</div>
<table align="right" border="0" cellpadding="1" cellspacing="1">
	<tbody>
		<tr>
			<td>
				<img alt="Nutan Bajracharya,Group General Manager, Incentive Group of Companies" src="/userfiles/images/nutan.jpg" style="width: 225px; height: 248px;" /></td>
		</tr>
		<tr>
			<td style="text-align: center;">
				<strong>Nutan Bajracharya</strong><br />
				<em>Group General Manager<br />
				Incentive Group of Companies</em></td>
		</tr>
	</tbody>
</table>
<div>
	<strong style="font-size: 12px;">--By Sushila Budhathoki</strong></div>
<div>
	&nbsp;</div>
<div>
	The selection of Incentive Tours and Travels Pvt. Ltd, a Kathmandu-based travel agency, as General Sales Agent (GSA) of Air Asia X - the premiere Malaysia budget carrier - is not a co-incidence with the announcement of Visit Malaysia Year 2014, but a result of five years of hard work to achieve such an assignment.&nbsp;</div>
<div>
	&nbsp;</div>
<div>
	The company turned GSA of Air Asia X last year but the excitement of winning the title persists. It was obvious for Incentive Tours and Travel, also known as Incentive Group of Companies, that this wouldbecome a major turning point in their business. Nutan Bajracharya, General Manager of the group says, &ldquo;It happened because of the diligence and hard work of our Chairman Hariman Lama whostarted his career as a messenger in a travel agency..&rdquo; Lama symbolizes the brand image the company is to going to form.&nbsp;</div>
<div>
	Having started off as Incentives Tours and Travels in 1999, the group now acquires two other companies namely Sansui Cargo and Incentive Holidays. With five flights a week to Malaysia, the group acquires 25 percent of market shares in flights to and from Malaysia, according to the company&rsquo;s spokesperson. Within a short span of time, the company has served over 10 thousand tourists from all over the world, mainly theUS, Japan, Europe and South East Asian countries. The company now has anannual turnover of two billion&nbsp;</div>
<div>
	&nbsp;</div>
<div>
	<strong>Targeting the middle class&nbsp;</strong></div>
<div>
	&nbsp;</div>
<div>
	Before the introduction of direct flights and economy tourism packages, only upper class customers were considered to be the target market for international tourism in Nepal. According to the company, it is the sole enterprise that flies people at an affordable fare and targets mostly middle class consumers.. The company has now expanded its services to China, Thailand, Vietnam, Cambodia, India, Bhutan and Tibet. &ldquo;We are now focusing on out-bound tourism because a high number of Nepalis are going abroad daily for jobs, travel or to study,&rdquo; says Bajracharya.&nbsp;</div>
<div>
	&nbsp;</div>
<div>
	Recently, the company has come up with a travel package to Malaysia targeting the middle class in Nepal. &ldquo;We have a four-night-five-day tour package for Malaysia at the price of Rs 49,499and, so far we have received very good bookings,&rdquo; he shares.&nbsp;</div>
<div>
	&nbsp;</div>
<div>
	International ticketing and tour packages as well as cargo all around the world are Incentive&rsquo;s services at the offing. Says Bajracharya: &ldquo;We have trekking and mountaineering as well, in addition to our packages forout-bound tourism.&rdquo; According to him, Air Asia X is gaining popularity among people flying togulf countries and some 200-250 people choose to fly with it every month. The company has a target of increasing this number to 500 passengers per month. Among those who come to Incentive Holidays, Singapore and Malaysia are the most visited destinations.&nbsp;</div>
<div>
	&nbsp;</div>
<div>
	The services of the company include hotel reservations, domestic flights, MICE (Meeting, Incentives, Conferencing and Exhibition), international flights, helicopter charters, special tailored tours and out-bound tours. Bungee jumping, paragliding, mountain flights, jungle safari, tours, sightseeing and white water river rafting are other activities the company has been in the business of. Prior to Incentive Holidays, Incentive Tours and Travels used to handle these businesses.&nbsp;</div>
<div>
	&nbsp;</div>
<div>
	Nutan sees three or four companies as his competitors. He says they have packages for outbound tourists as well butwhen it comes totour packages in Malaysia, competition seems to have been eliminated due to Incentive&rsquo;s alliance with Air Asia.&nbsp;</div>
<div>
	&nbsp;</div>
<div>
	<strong>Human Resource Management&nbsp;</strong></div>
<div>
	&nbsp;</div>
<div>
	Nutan shares that his company follows staff rules and regulations for pay and perks. &ldquo;We hire experts and seek their recommendation to manage our human resource,&rdquo; he says, adding that this system becomes instrumental in keeping the company fine tuned. &ldquo;Even when staff are at leave or in holiday, the company&rsquo;s schedule is not affected since their tasks are handled systematically.&rdquo; Including five Deputy General Managers and board directors, the company currently employs 50 people, among who 17 are women.&nbsp;</div>
<div>
	&nbsp;</div>
<div>
	The company has fixed working hours and holidays for the staff, which according to Nutan are mostly disciplined and rule abiding. In a bid to acknowledge the work of his staff and to further motivate them, the company confers the&lsquo;Staff of the year&rsquo; award annually to those who have worked well and served the company for over five years. . To keep the staff up to mark with international standards, the company often sends them abroad for training and also invites experts from outside to train them.&nbsp;</div>
<div>
	&nbsp;</div>
<div>
	<strong>Challenges and opportunities&nbsp;</strong></div>
<div>
	&nbsp;</div>
<div>
	Since there is a huge opportunity and scope in the tourism sector, it seems that the private companies have not been able to exploit it. Bajracharya is upbeat about the prospect of tourism in Nepal. &ldquo;Although Nepal is a country of amazing extremes including the greatest mountain range and anincredible variety of ecosystems, we have not been able to draw a large number of tourists,&rdquo; he says. &ldquo;Our company strives towards tapping this huge potential by bringing adventurous and luxury travelers from around the world.&rdquo;&nbsp;</div>
<div>
	&nbsp;</div>
<div>
	Like many industries in Nepal, the unpredictable but recurring strikes are having an adverse impact in their business too. Bajracharya says that it not only incurs a huge loss to the economy but also paints a negative image of the country in the international arena. However, he is optimistic about the future of the tourism.. He underlines the need for massive tourism to make it a foremost industry.&nbsp;</div>
<div>
	&nbsp;</div>
<div>
	Hosting the tourist, which was once considered a part of the culture in Nepal, is now growing to be a lucrative business. In his experience, the understanding of tourism benefits among local people has increased. &ldquo;Peoplein remote areas these days are using western-style toilets because they now understand the value of tourism,&rdquo; he observes.&nbsp;</div>
<div>
	&nbsp;</div>
<div>
	Hariman, however, laments the apathy and indifference shown by the government towards the tourism industry. He says, &ldquo;The government is not serious in exploring new tourist destinations. It is least bothered to promote already discovered tourist destinations and trekking trails. For example there isn&rsquo;t a single comprehensive information booklet published by the government consisting of information on tourist destinations in Nepal.&rdquo;&nbsp;</div>
<div>
	&nbsp;</div>
<div>
	<strong>Future Strategy&nbsp;</strong></div>
<div>
	&nbsp;</div>
<div>
	The group aims to become an international travels and tours operator in the near future. The exploration of new international destinations is their immediate plan, targeting the outbound tourists. &ldquo;We are exploring new destinations all around the world catering with services at competitively lower prices,&rdquo; Bajracharyainforms.&nbsp;</div>
<div>
	&nbsp;</div>
<div>
	Speaking about the travel patterns in general, Bajracharaya observes that people usually go for pre-made packages and are relatively clueless about future travel plans.. &ldquo;The ignorance of new destinations is the reason behind this,and this is why we are inviting travelers with new packages as planned by our company,&rdquo; he concludes.</div>
<div>
	&nbsp;</div>
<div>
	<img alt="AirAsia " src="/userfiles/images/airasia1.jpg" style="width: 600px; height: 331px; margin: 5px;" /></div>
<div>
	&nbsp;</div>
<table border="0" cellpadding="10" width="99%">
	<tbody>
		<tr>
			<td bgcolor="#FFFFFF">
				<div>
					<span style="font-size:16px;"><strong>AT A GLANCE</strong></span></div>
				<div>
					&nbsp;</div>
				<div>
					<div>
						<span style="font-size:16px;">Incentives Group of Companies&nbsp;</span></div>
					<div>
						&nbsp;</div>
					<div>
						<strong>Incentives Tours and Travels&nbsp;</strong></div>
					<div>
						&nbsp;</div>
					<div>
						Founded in 1999, the company offers travel and tour packages as well as other services like ticketing, hotel reservation, paragliding andjungle safari.&nbsp;</div>
					<div>
						&nbsp;</div>
					<div>
						<strong>Sansui Cargo&nbsp;</strong></div>
					<div>
						&nbsp;</div>
					<div>
						Founded in 2012, the company provides cargo services all over the world.&nbsp;</div>
					<div>
						&nbsp;</div>
					<div>
						<strong>Incentive Holidays&nbsp;</strong></div>
					<div>
						&nbsp;</div>
					<div>
						Founded in 2012, the company is the GSA of Air Asia X for Nepal and offers special tour packages for Malaysia, China, Vietnam, Cambodia and Thailand.&nbsp;</div>
					<div>
						&nbsp;</div>
					<div>
						<strong>Strengths</strong></div>
					<ul>
						<li>
							Discipline and good working culture&nbsp;</li>
					</ul>
					<div>
						&nbsp;</div>
					<div>
						<strong>Threats </strong></div>
					<ul>
						<li>
							<span style="font-size: 12px;">Political instability&nbsp;</span></li>
						<li>
							Success mantras&nbsp;</li>
						<li>
							Continuity with honesty&nbsp;</li>
						<li>
							Cost efficiency&nbsp;</li>
						<li>
							Good service&nbsp;</li>
					</ul>
					<div>
						&nbsp;</div>
					<div>
						<strong>CSR Activities</strong></div>
					<div>
						&nbsp;</div>
					<div>
						So far the company has been helping flood victims and local clubs as a part of their corporate social responsibility. However, this company is keenly looking to do something more in the travel and tourism sector. Bajracharya says that they are planning to renovate temples, footpaths and other sites of cultural heritage.&nbsp;</div>
					<div>
						&nbsp;</div>
					<div>
						<strong>Individual brand matters&nbsp;</strong></div>
					<div>
						&nbsp;</div>
					<div>
						Asthe chairperson of the group, Lama, has been associated with the travel businessfor approximately 30 years. The prospects he saw in the tourism sector encouraged and led him to establish his own company. Now, his struggle and diligencehas paid him off,making him the owner of the company from his humbles beginnings as messenger for a previous work place.&nbsp;</div>
					<div>
						&nbsp;</div>
					<div>
						In 2000, he got another opportunity to gain an international recognition. His participation at the Global Youth Meet, where youths from around 58 countries were present, gave him an opportunity to project himself as a promising businessman in the tourism business.&nbsp;</div>
					<div>
						&nbsp;</div>
					<div>
						<strong>Networking and Affiliation&nbsp;</strong></div>
					<div>
						&nbsp;</div>
					<div>
						Incentive Tours and Travels is a member of Nepal Association of Travel Agents (NATA). It is also affiliated with Nepal Tourism Board (NTB), International Air Transport Association (IATA), Pacific Air Travel Association (PATA), Trekking Agencies&rsquo; Association of Nepal (TAAN), and various other associations. Nutan informs that his company has links with around 150 hotels in Nepal to use this facility for in-bound tourists.</div>
				</div>
			</td>
		</tr>
	</tbody>
</table>
<p>
	&nbsp;</p>',
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			'description' => 'The selection of Incentive Tours and Travels Pvt. Ltd, a Kathmandu-based travel agency, as General Sales Agent (GSA) of Air Asia X - the premiere Malaysia budget carrier - is not a co-incidence with the announcement of Visit Malaysia Year 2014, but a result of five years of hard work to achieve such an assignment.',
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			'article_category_id' => '160',
			'title' => 'Corptoon Issue 23',
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			'content' => '<p>
	<img alt="" src="/userfiles/images/Corptoon%2023.jpg" style="width: 600px; height: 857px;" /></p>',
			'published' => true,
			'created' => '2013-07-21',
			'modified' => '0000-00-00',
			'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' => 'Corptoon',
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	(int) 10 => array(
		'Article' => array(
			'id' => '1449',
			'article_category_id' => '91',
			'title' => 'Microfinance And Agro Friendly Monetary Policy',
			'sub_title' => '',
			'summary' => null,
			'content' => '<div>
	<strong><span style="font-size: 12px;">--BY Siromani Dhungana</span></strong></div>
<div>
	&nbsp;</div>
<div>
	<span style="font-size: 12px;">Nepal Rastra Bank (NRB) has brought out a monetary policy that is specially friendly to strengthening micro-finance and agriculture sectors.</span></div>
<div>
	&nbsp;</div>
<div>
	In the policy announced on Sunday, NRB has cut the Cash Reserve Ratio (CRR) by one percent. With the introduction of new monetary policy, the category &lsquo;A&rsquo; financial institution has to maintain CRR at 5 per cent, while category &lsquo;B&rsquo; and category &lsquo;C&rsquo; institutions have to maintain it at 4.5 per cent and 4 per cent, respectively.</div>
<div>
	&nbsp;</div>
<div>
	Likewise, the policy has fixed the Statutory Liquidity Ratio (SLR) of 12 percent, 9 percent and 8 percent for category A, B and C financial institutions, respectively which is one per cent decrease compared to the previous provision.&nbsp;</div>
<div>
	&nbsp;</div>
<div>
	The central bank has also reduced the refinancing rate for agriculture, hydro-power and others productive sectors to 5 per cent from earlier 6 percent.&nbsp;</div>
<div>
	&nbsp;</div>
<div>
	The central bank failed to address demands put forth by the Nepal Bankers&rsquo; Association (NBA). It has provisioned that the commercial bank has to have a total of 20 percent of outstanding loans in &lsquo;productive&rsquo; sector including at least 12 percent in agriculture and energy sector by end the of May 15, 2015. The association has demanded to relax the provision saying the compulsory provision can create unnecessary pressure to the banks.&nbsp;</div>
<div>
	&nbsp;</div>
<div>
	Similarly, bankers&rsquo; association had also asked the central bank to relax the provision of Credit-Deposit Ratio (CDR) and increase its limitation to 85 percent. But the central bank did not change the provision of CDR from 80 percent.&nbsp;</div>
<div>
	&nbsp;</div>
<div>
	Similarly, Nepal Rastra Bank did not bring any provision to relax real estate lending.&nbsp;</div>
<div>
	&nbsp;</div>
<div>
	NRB says the new monetary policy will help to attain 5.5 per cent economic growth rate as targeted by the government budget for FY 2013-14 and restrict the inflation to 8 per cent in the fiscal year.</div>
<div>
	&nbsp;</div>',
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			'description' => 'Nepal Rastra Bank (NRB) has brought out a monetary policy that is specially friendly to strengthening micro-finance and agriculture sectors.',
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			'id' => '1447',
			'article_category_id' => '34',
			'title' => 'Live Streaming Of Nubiz B-Schools Awards Event',
			'sub_title' => '',
			'summary' => null,
			'content' => '<h2>
	<a href="http://www.abhiyan.com.np/galleries-45">Photo Gallery Of Nubiz B-Schools Awards Event </a><br />
	<br />
	<a href="http://www.abhiyan.com.np/galleries-45"><img alt="B School" src="/userfiles/images/bschool.jpg" style="margin: 10px; width: 200px; height: 120px;" /></a><br />
	<br />
	<iframe frameborder="0" height="340" scrolling="no" src="http://cdn.livestream.com/embed/khumbaya?layout=4&amp;clip=pla_7cf3d9ed-b5a1-4811-acc3-5fded5d4560f&amp;height=340&amp;width=560&amp;autoplay=false" style="border:0;outline:0" width="560"></iframe></h2>
<div style="font-size: 11px;padding-top:10px;text-align:center;width:560px">
	Watch <a href="http://www.livestream.com/?utm_source=lsplayer&amp;utm_medium=embed&amp;utm_campaign=footerlinks" title="live streaming video">live streaming video</a> from <a href="http://www.livestream.com/khumbaya?utm_source=lsplayer&amp;utm_medium=embed&amp;utm_campaign=footerlinks" title="Watch khumbaya at livestream.com">khumbaya</a> at livestream.com</div>
<p>
	&nbsp;</p>
<h2>
	<a href="http://www.livestream.com/khumbaya/folder">Click Here to see all the remaining videos of the event </a></h2>',
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			'description' => 'Live Streaming of Nubiz B-Schools Awards Event',
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			'id' => '1446',
			'article_category_id' => '40',
			'title' => 'Towards Inclusive Growth',
			'sub_title' => '',
			'summary' => null,
			'content' => '<div>
	&nbsp;</div>
<div>
	&nbsp;</div>
<div>
	<span style="font-size: 12px;">It was India&rsquo;s Montek Ahluwalia who coined the phrase &lsquo;inclusive growth&rdquo; in the 1970s with the World Bank (WB) Report &ldquo;Redistribution with Growth&rdquo;; and later it was reckoned that $ 1 per day (currently $ 1.25 per day) as being the line of absolute poverty which had to be traversed to be pro-poor and &lsquo;inclusive&rsquo;.&nbsp;</span></div>
<div>
	&nbsp;</div>
<div>
	Whereas Marx wanted &ldquo;forced redistribution&rdquo; of assets of the feudal and bourgeois classes for inclusion, Ahluwalia wanted redistribution through legal, monetary and fiscal interventions. The problem with both was that, as socialists, the concept lacked faith in the middle class as the true vanguards of democracy-- and the private sector as the true engineers of efficient and rapid economic growth and employment creation.</div>
<div>
	&nbsp;</div>
<div>
	And so this $ 1 a day &lsquo;absolute poverty&rsquo; thesis of Montek Ahluwalia gave birth to the Human Development thesis of Pakistan&rsquo;s Mahbul Haq, which basically sought &lsquo;inclusion&rsquo; by creating equality of opportunities for all those excluded, especially women and the girl child.&nbsp;</div>
<div>
	&nbsp;</div>
<div>
	Haq pioneered the human capital revolution which got us to think of creativity and productivity as the true source of prosperity and human welfare and not the usual underscoring of the importance of natural, physical or financial capital. He got us to think of people as more than just labour. And he made them the centerpiece of development.</div>
<div>
	<img alt="" src="/userfiles/images/cs1.jpg" style="float: left; margin: 0px 10px 0px 0px; width: 220px; height: 328px;" /></div>
<div>
	The Human Development Index is his lasting legacy. Haq learnt from the experience of Pakistan in the 1960s that one could have 7% GDP growth and also suffer acute inequalities and inequities to exclude the poor from the fruits of growth&mdash;and worse, exclude 50% of the population of women who needed to be empowered by the State. He also re-introduced the concept of &lsquo;human security&rsquo; which was the foundation on which the Japanese economic miracle of the 1950s-70s occurred with little or no natural resources.&nbsp;</div>
<div>
	&nbsp;</div>
<div>
	&lsquo;Growth&rsquo; and &lsquo;development&rsquo; are related but different concepts. Growth theories apply to developed nations whereas development theories apply to underdeveloped nations mired in hunger, malnutrition, illiteracy, ill health, superstition, deprivation, exploitation and underemployment of human resources.</div>
<div>
	&nbsp;</div>
<div>
	Inclusive Growth also refers to the need for a &lsquo;balanced growth&rsquo; between (a) agriculture and manufacturing and (b) urban and rural areas of a nation. Thus inter &ndash;industry analysis and input-output models were developed and regional economics became a separate discipline to deal with geographic inequalities in growth. (As early as the 1970s Centre for Economic Development and Administration (CEDA) under Tribhuvan University, intellectually led by the likes of Dr Harka B Gurung and Dr Ratna SJB Rana were doing such seminal work for Nepal for regional balance by examining possible growth centres and corridors, which was waylaid by foreign aid that opted for extraneous models of development. This eventually sowed the seeds of conflict in Nepal with its over-emphasis on the role of the central bureaucracy and a Kathmandu-centric model of development. I am referring to the failed Integrated Development Projects (IRDPs) of the World Bank and the several bilateral donors working in isolation of each other to practically make the central bureaucracy their own dysfunctional and corrupt fiefdoms. It failed because it was costly and opted for decentralization rather than devolution with bottom up local leadership development with people&rsquo;s participation).</div>
<div>
	&nbsp;</div>
<div>
	In the 1980s, a new growth and development paradigm was born-- &lsquo;sustainable growth&rsquo;. It was felt that the cost to the natural environment was not being factored in by the GDP approach as the very success of growth resulted in externalities such as environment degradation, pollution of air, soil, water&mdash;one may say, development&rsquo;s impact was toxic. For most of the time, growth theory was driven by concern for its pace and pattern of growth. Then comes concern for its impact on Nature. And thus was added a new dimension to &lsquo;inclusion&rsquo; theory.&nbsp;</div>
<div>
	<img alt="" src="/userfiles/images/cs2.jpg" style="float: right; margin: 0px 0px 0px 10px; width: 352px; height: 175px;" /></div>
<div>
	In the 1990&rsquo;s, led by Nepal&rsquo;s Gandhian statesman PM Krishna Prasad Bhattarai, a new concept was bestowed to the development paradigm. &lsquo;Pro-poor growth&rsquo; was the term coined by the SAARC Independent Commissioners in 1992 (see the SAARC Secretariat Report: &ldquo;Meeing the Challenge) as it began to grapple with growth models that tended to &lsquo;walk on one foot&rsquo;, as it were. Thus it emphasized Structural and Extended Structural Adjustment Programmes (SAP and ESAP) passionately underwritten by the International Monetary Fund (IMF) and the World Bank in tandem to usher economic and financial reforms since the 1980s.&nbsp;</div>
<div>
	&nbsp;</div>
<div>
	The SAP and E-SAP model of growth and development ignored the contribution that the poor, especially women, could make to growth by treating them as objects of development and not the subjects. Hence the call for &lsquo;pro-poor growth&rsquo; with Organizations of the Poor to be engaged in self help, self development and self management by designing locally based growth and development models unique to its social, cultural and ecological environments. For this to happen, it called for Social Mobilization of the Poor by the State so that they can participate in development and democracy through the mechanism of the Market. It believed that South Asia could have 9% GDP growth with 3% being contributed by the poor themselves, if it followed a strategy of walking on two legs &ndash; (a) priority to agriculture (b) development of labour intensive SMEs in manufacturing (c) human development and human security (d) social mobilization of the poor to create Organizations of the Poor to pursue their own models of growth and at their own pace as also to countervail the power of the ruling and rural elites. Its lasting contribution is the inclusion of &lsquo;social capital&rsquo; as a viable and relevant development model where the local culture should be included, and seen as an enduring asset, along with the traditional local institutions in the form of Community-based Organisations (CBOs) and TVOs. (Alas, the NGOs, sadly, were trying to make them irrelevant being driven by extraneous social and political forces under the banner of universal human rights )&nbsp;</div>
<div>
	<img alt="" src="/userfiles/images/cs3.jpg" style="width: 525px; height: 175px; margin: 10px 25px;" /></div>
<div>
	&nbsp;</div>
<div>
	<strong>Development through Devolution (The Alternative Model for 2015-20)&nbsp;</strong></div>
<div>
	&nbsp;</div>
<div>
	It is unlikely that a top-down driven development paradigm comprising national planning, state enterprises, labour unions &hellip; will allow inclusion of all. This can only happen when opportunities are created for all by supporting markets garnished by agrarian, economic, financial, administrative and labour reforms. Not least maximizing a bottom up development paradigm with maximum scope for local leadership development and culture-specific innovations to achieve MDGs goals and targets by the locals themselves in tune with their own capacity to deliver. This requires that the national think tanks adopt more than Chamber&rsquo;s Participatory Research Approach (PRA) for Participatory Action Research (PAR) as underlined by the SAARC Independent Commission on Poverty Alleviation of 1992.&nbsp;</div>
<div>
	&nbsp;</div>
<div>
	Inclusive Growth must mean growth with productive employment by creating opportunities for jobs and by investing in one&rsquo;s human capital development of own self and family members for the jobs --in the context of globalization The primary focus of inclusive growth must be on quality of human capital and so needs inclusion of Private Sector as the engine of growth since they create jobs for employees and opportunities for the self-employed.&nbsp;</div>
<div>
	&nbsp;</div>
<div>
	Planning must be macro, meso and micro, all harmonized strategically. The Macro Plan must project the desired structure of the economy for the next 25 years and the five year plan must be a human resource development plan that addresses the human capital requirements for the perspective economy of the future (say 2035) based on manpower supply and demand projections and plans judiciously integrated with the educational plan that opens avenues for vocational, apprenticeship, technical and technological for the variety of occupations in the national economy and in the global labour markets.&nbsp;</div>
<div>
	&nbsp;</div>
<div>
	In other words, the State will have 5 Five Year Rolling Macro Plans that will be supplemented by Meso Plans to strategically manage education, health, gender, children, youth, old age, disabled, castes and creeds, urbanization, water, energy, ICT, transportation, investment, saving, capital markets, credit flows, exports, imports, taxation, and also corporate governance, entrepreneurship development, R &amp;D; S&amp;T, and monopoly regulation, for example, depending on the number of Ministries to be created. The fewer the Ministries the better. Let us emphasize that these ministries must move towards being a &lsquo;managerial civil service&rsquo; (as happened in East Asia to turn their economies into Tigers) and not continue to function as the colonial &lsquo;administrative civil service&rsquo; mired in red tape and acutely devoid of horizontal communication and coordination.&nbsp;</div>
<div>
	&nbsp;</div>
<div>
	Competition is the name of the game and with it goes merit &ndash;not reservations. Hence private sector must seek to gather the &lsquo;fortune at the bottom of the pyramid&rsquo; as part of their core business strategies. And SMEs and Micro Enterprises and Social Entrepreneurs are vital actors in the formulation and execution of the national and sector plans, as well as the creation of urban clusters and supply chains.&nbsp;</div>
<div>
	&nbsp;</div>
<div>
	Inclusive growth requires that we take in a host of factors and forces like geography, demography, social factors and forces, governance etc and hence has to be participative to require decisions at all levels and all actors &ndash;not just the state guided by the NPC with its very weak basic and applied research capacities coupled with rapid turnover of planners with the political changes. Such NPCs are a waste of national resources and should be converted to an Advisory Economic Council with the Prime Minister Office (PMO), if they are genuinely needed. What is now needed is Integrated Sector Programming and National Performance Budgets governed by a Fiscal Management and Responsibility Act as exists, for example, in South Korea and India.&nbsp;</div>
<div>
	&nbsp;</div>
<div>
	Inclusive Growth is growth that benefits each and every segment of a society with no exclusions whatever. This means when women&rsquo;s work at home they be paid for and their contribution to the GDP be duly recognized and rewarded.&nbsp;</div>
<div>
	&nbsp;</div>
<div>
	Nepal&rsquo;s development plan has to be framed in the perspective of the opportunities from India, China and Bangladesh in due cognizance of our economic structure and development constraints. It requires our policy planners and private sector to be proactively engaged in national and sector dialogues with each other: to set down targets and outcomes for coordinated policy and designing of sector and multi sector programmes aligned with the annual performance budgets. We have to assess feasible economic growth targets for each 5 yr periods first and foremost in consensus with the political parties&mdash;and not be driven by external agents and fanciful notions of the political leadership who are very, very weak in their understanding of economics and finance.&nbsp;</div>
<div>
	&nbsp;</div>
<div>
	We have to set achievable GDP and sector targets and act accordingly to secure them jointly with the local governments, NGOs and private sector Each target must be supported by country-wide action plan and programme. For example (a) eradication of illiteracy (b) raising GDP by 5.5% (c) agri growth at 4.0% (d) inflation down to 7.5% (e) industrial growth by 10% -- devolved to districts with their own targets set locally (f) lower capital output ratio through more efficient planning, choice of foreign aid and eradication of graft and corruption; ICT for better governance (g) gender budget for gender inclusion to name a few development agenda topics.&nbsp;</div>
<div>
	&nbsp;</div>
<div>
	Immense macro economic benefits have accrued from remittances which is now 25% of GDP. It has helped reduce poverty from 42% (1996) to 24% (2012). It has prevented Nepal from economic collapse and stabilized economic growth at the midterm growth rate of around 3.5- 4% between 2005-13.&nbsp;</div>
<div>
	&nbsp;</div>
<div>
	Yes, costs have been borne at the household and individual levels with the pain and suffering of international migration and debts incurred for it. However, one can take advantage from the challenges by planning the remittance economy better so as to empower women head of household and the girl child with the skills to fill in the job vacancies as happened during WWI ad WW II that liberated women once in for all in the West.&nbsp;</div>
<div>
	&nbsp;</div>
<div>
	<img alt="" src="/userfiles/images/cs4.jpg" style="width: 525px; height: 175px;" /></div>
<div>
	&nbsp;</div>
<div>
	<strong>Conclusions&nbsp;</strong></div>
<div>
	&nbsp;</div>
<div>
	South Asian concept of Inclusiveness is this: all growth and development models must be ingrained in our civilizational heritage&mdash;not that of the Greeks, Romans or Christians or Marx and Mao. Inclusiveness should be based on one&rsquo;s culture adapted for internally to achieve modernity and based on pragmatism for the greatest public good. It seeks to be grounded not on a Capitalist or Socialist Society with all its ideological baggage but on a Humane Society where Planet Earth is a Global Village embodied and enriched by pluralistic cultures and cosmopolitan individuals with multiple identities with equal value, as was bestowed upon us by the eternal wisdom of Swami Vivekanada.&nbsp;</div>
<div>
	&nbsp;</div>
<div>
	Inclusive Growth and Development are super structure means to an end that needs to be holistically entrenched with sound social, economic, ecological and political structures that are themselves inclusive. Let us summarize the parameters and their variables here below:&nbsp;</div>
<div>
	&nbsp;</div>
<div>
	(A) Inclusive Society: formalization of CBOs, organization of the poor, social mobilization, preservation and promotion of multiple identity; maximum role for the social organizations; protects and promotes the joint family system rather than the state acting as nanny and nurse and creates a Commonwealth of Plural Societies with various civil society organizations &ndash;and their national federations-- to represent professional, business, religious, gender and cultural interests;&nbsp;</div>
<div>
	&nbsp;</div>
<div>
	(B) Inclusive Economy: access to credit for all; entrepreneurship development; traditional skill development; community ownership of resources; markets that respect consumer and ecological sovereignties;&nbsp;</div>
<div>
	&nbsp;</div>
<div>
	(C) Inclusive Environment: harmonious nature-people relationships in the context of global warming and climate change , and</div>
<div>
	&nbsp;</div>
<div>
	(D) Inclusive Polity: direct democracy; inclusive institutions &ndash;education, health, access to justice; rule of law; community leadership; empowerment of gram panchayats; modernity through local leadership and local culture ; proportional representation of communities and gender in all political parties for inclusive governance and political leadership and political space to duly elected civil society federations to be represented rotationally in the Upper House of Parliament so that short run political interests are countervailed by long-run non political civil society interests.&nbsp;</div>
<div>
	&nbsp;</div>
<div>
	Finally, given all the above parameters and their variables for inclusion there is really no need for an ethnic-based Inclusive State to render justice to all and the next generations. Yes, we need an Inclusive Constitution to not exclude any. Primarily, to ensure the supremacy of the Constitution and the rule of law by having independent institutions to check the abuse of power by the political authority and guarantee accountability, transparency, competition and merit in the body politic for the larger public good.&nbsp;</div>
<div>
	&nbsp;</div>
<div>
	I submit, we do not even need a federal state. Much wiser to devolve responsibility to the 4440 VDC and 75 Districts and Municipalities for dynamic and harmonious Inclusive Growth and Development of an independent and sovereign Nepal with its territorial integrity intact.&nbsp;</div>
<div>
	&nbsp;</div>
<div>
	<em><span style="font-size:11px;">(Rana is Professor South Asian Institute of Management (SAIM) and Former Finance Minister.)</span></em></div>
<div>
	&nbsp;</div>
<div>
	<img alt="" src="/userfiles/images/cs5.jpg" style="width: 525px; height: 175px; margin: 5px 25px;" /></div>
<div>
	&nbsp;</div>',
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			'description' => 'It is a la mode, these days, to speak of ‘inclusive growth’ and ‘inclusive development’. In Nepal’s case, the Maoists have extended it to ‘inclusive State’: and with it the constitutional and political contours of new Nepal are yet unclear—and remain extremely contentions.',
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			'title' => 'Thai - Fam Trip',
			'sub_title' => '',
			'summary' => null,
			'content' => '<p>
	Thai Airways International Public Company Limited organised the fam trip to honour the top 7 travel agencies in Nepal, on 7 July. The organised trip was for 6 days which included the exploration of &ldquo;The Sanctuary of Truth, Damnern Saduak &amp; Rose Garden, and Dinner Cruise on &ldquo;Loy Nava&rdquo;; the important destinations of Pattaya and Bangkok in Thailand. In addition to this, Amari Orchid Pattaya and Novotel Bangkok Ploenchit Bangkok organised hotel inspection.<br />
	<br />
	<br />
	<br />
	&nbsp;</p>',
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			'description' => 'Thai Airways International Public Company Limited organised the fam trip to honour the top 7 travel agencies in Nepal, on 7 July. The organised trip was for 6 days which included the exploration of “The Sanctuary of Truth, Damnern Saduak & Rose Garden, and Dinner Cruise on “Loy Nava”;',
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			'title' => 'Feedback July 2013',
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			'content' => '<div>
	&nbsp;</div>
<h2>
	Merger and Acquisition</h2>
<p>
	<span style="font-size: 12px;">The number of banks and financial institutions (BFI) Nepal has, is by no means small for the size of the economy and geography. The central bank&rsquo;s initiative to lower the number of BFIs through mergers is a a quite welcoming attempt. Mergers and acquisitions, if well executed will result into a more effective, efficient and a stronger company.&nbsp;</span></p>
<p>
	At the moment, merger is not a challenge for the financial market but the number of BFIs in the given size of geography and economy definitely is. Large number of BFIs would mean more amounts of capital accumulated in smaller chunks as fixed assets and capital of the banks that could have been invested in other productive areas. So far, we have not seen banks investing in large projects and making long term investments. This would be possible when banks with strong capital base emerge. It is highly unlikely to happen when capital is spread across more than 30 commercial banks. It is always better to have 10 large banks than having 30 small incapable ones. At the moment, number of problematic BFIs is also increasing. Merger and acquisition should ensure merger of two or more companies into one to make a single strong and capable bank. However, so far, we have not seen merger of two commercial banks.&nbsp;</p>
<p>
	It is argued that if the number of commercial banks comes down, they will be involved in carteling. The central bank should keep an eye to prevent such irregularities. But, when two commercial banks merge, one of the foremost impacts is the large capital base. This makes possible to invest in large projects and create a ground for long term investment which is missing at the moment. The development so far in the merger and acquisition is encouraging but I think it should reach the next level soon.&nbsp;</p>
<p>
	<em>- Sambida Sharma, Balkumari</em></p>
<hr />
<p>
	<strong>Summer Market Trends&nbsp;</strong></p>
<p>
	As the writer argues in &lsquo;Summer Market 2013&rsquo; (Vol. 12 Issue 8 of New Business Age), growing urbanisation and popularity of nuclear families have played their part in giving certain products a boost in the market. However, I believe that these factors are not the only contributors. I think that purchasing power plays a more important role in determining consumption pattern. Fuelled by remittances, purchasing power has been on the rise in Nepal. This has driven up consumption.&nbsp;</p>
<p>
	<em>- Bhimsen Bharati, Kapan</em></p>
<hr />
<p>
	<strong>HELVETAS Partner in Sustainable Development&nbsp;</strong></p>
<p>
	I went through the Development- Partner story about HELVETAS in June 2013 issue. The story revolves around the positive work of the organisation. What it is doing for the benefits of the Nepali people is really encouraging. However, the article failed to provide details about more of its activities. I would have loved to know more about the projects of HELVETAS in detail. For example, about their target areas and people and the extent of the benefits it has created and also the negative impacts it may have caused. It would make the story a more interesting read if views of beneficiaries too were incorporated.&nbsp;</p>
<p>
	<em>- Sushil Chhetri, Budhanilkantha</em></p>
<hr />
<p>
	<strong>Bit of Entertainment Business&nbsp;</strong></p>
<p>
	I have been reading your magazine regularly and I appreciate your efforts to create a business-literate readership. It is good to see that your media is covering different issues related to business and economy. It would also be appreciable if you also could write about entertainment business. I think that would make the magazine more fascinating to read, and will attract young readers too.&nbsp;</p>
<p>
	<em>- Santosh Dhungana, Chabahil</em></p>
<hr />
<p>
	<strong>Century of Indian Cinema&nbsp;</strong></p>
<p>
	When the Indian cinema was celebrating its centenary, it had already collected non-Indian audience base from a number of countries. The Indian cinema or the movie industry popularly known as Bollywood is one of the largest entertainment industries in terms of number of movies produced every year. Though it may have surpassed Hollywood&rsquo;s annual production, it is yet to equalise in terms of revenues collected. From the South Asian perspective, small entertainment industries like that of Nepal could learn a lot from the burgeoning industry next door. But, most of the countries in South Asia have put a ban on Indian cinemas for a long time. Even Nepal had made numerous attempts in the past to ban Hindi cinema. But in absence of quality cinemas produced locally and the access to foreign movies through the satellite televisions, Internet and pirated cheap DVDs, the attempt always remained a failed one as the viewers were never ready for the ban to be imposed. Similar was the situation in other neighbouring countries. There is a huge lack of creativity in the local cinema industry, and instead of getting inspired from the neighbouring industry- the Nepali Film industry has been limited to copying Bollywood, that too badly. There is a lot to learn from a century long experience of Indian cinema and adopt the technology and techniques of storytelling they use rather than merely copying some scenes and dialogues. The neighbouring countries can learn from Indian movie industry the techniques to find a space among global audience.&nbsp;</p>
<p>
	&nbsp;</p>
<p>
	-<em> Prabhat Dhakal, New Baneshwor, Kathmandu</em></p>
<div>
	<div>
		<hr />
		<span style="font-size:11px;"><em>Mail your feedback to P O Box 14197, Kathmandu or Email to <a href="mailto:editor@newbusinessage.com?subject=Re%3AFeedback%20July%202013">editor@newbusinessage.com</a></em></span></div>
	<div>
		<span style="font-size:11px;"><em>The mail will be edited for the purpose of clarity and brevity.</em></span>
		<hr />
	</div>
</div>
<div>
	&nbsp;</div>',
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			'description' => 'The number of banks and financial institutions (BFI) Nepal has, is by no means small for the size of the economy and geography. The central bank’s initiative to lower the number of BFIs through mergers is a a quite welcoming attempt. Mergers and acquisitions, if well executed will result into a more effective, efficient and a stronger company.',
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		'Article' => array(
			'id' => '1459',
			'article_category_id' => '140',
			'title' => 'CPN-Maoist Accepts HLPC Invitation For Talk',
			'sub_title' => '',
			'summary' => null,
			'content' => '<div>
	<strong><span style="font-size: 12px;">--By TC Correspondent</span></strong></div>
<div>
	&nbsp;</div>
<div>
	The CPN-Maoist led alliance of 33 parties has agreed to sit for a dialogue with the High Level Political Mechanism. The decision of 33 dissident parties to agree for a dialogue with the HLPC has come following a formal invitation dispatched by the HLPC coordinator Pushpa Kamal Dahal on Wednesday. The CPN-Maoist leader Secretary Dev Gurung, who is also in a 5-member talk team formed by his party, informed that the dissident alliance has accepted the invitation of the HLPC to sit for negotiations &ldquo;free from any conditions&rdquo;.&nbsp;</div>
<div>
	&nbsp;</div>
<div>
	Meanwhile, the government has also sent an official letter to the CPN-Maoist Chairperson Mohan Baidya on Friday inviting his and other 32 dissenting parties for the talks.&nbsp;</div>
<div>
	&nbsp;</div>
<div>
	Welcoming the step of forming a five-member talks committee by the CPN-Maoist, the government in its letter has said, &ldquo;We have a firm belief that every problem can be resolved through dialogue and discussion. Hence, we would like to invite you and your allies for a dialogue.&rdquo;&nbsp;</div>
<div>
	&nbsp;</div>
<div>
	According to the letter, the time and venue for talks can be determined through mutual understanding.&nbsp;</div>
<div>
	&nbsp;</div>
<div>
	This is the second letter from the government to the poll-opposing parties asking them to sit for talks.&nbsp;</div>
<div>
	&nbsp;</div>
<div>
	The CPN-Maoist led alliance with 32 other parties is protesting against the government announcement to hold the election. The alliance has been demanding that the 11-point and the 25-point agreements reached to remove constitutional difficulties be scrapped. Likewise, the alliance has also pressing for holding the Round Table Conference to settle political and constitutional complications.</div>
<div>
	&nbsp;</div>',
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			'description' => 'The decision of 33 dissident parties to agree for a dialogue with the HLPC has come following a formal invitation dispatched by the HLPC coordinator Pushpa Kamal Dahal on Wednesday.',
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		'Article' => array(
			'id' => '1458',
			'article_category_id' => '161',
			'title' => '‘We Make Sure That Projects Are Not Owned By Heifer But By People’',
			'sub_title' => '',
			'summary' => null,
			'content' => '<div>
	<span style="font-size: 12px;"><img alt="Dr Shubh N Mahato,Country Director of Heifer International Nepal." src="/userfiles/images/Dr%20Shubh%20N%20Mahato.jpg" style="float: left; margin: 0px 10px 0px 0px;width: 150px; height: 182px;" /><span style="font-size:14px;"><em>Dr Shubh N Mahato</em> is the <em>Country Director</em> of <em>Heifer International Nepal</em>. Heifer has recently announced its strategic plans for the next ten years. The plans are in line with the organisation&rsquo;s area of work &ndash; agriculture, livestock, poverty reduction and livelihood enhancement of 500,000 households across 28 districts. In an interview with Gaurav Aryal of The Corporate, Mahato talked about long term programmes and their sustainability. <strong>Excerpts:</strong></span><strong>&nbsp;</strong></span></div>
<div>
	&nbsp;</div>
<div>
	<strong>How is Heifer International&rsquo;s new 10 years strategic plan different than that of the past?&nbsp;</strong></div>
<div>
	Earlier we used to make strategic plans for five years. Earlier, Heifer&rsquo;s staff were mobilised along with the participation of stakeholders. We used to have certain targets and strategies were formulated to achieve them. Then we used to design projects targeting up to 500 households. And, NGOs would take up sub projects to be implemented in their working areas.&nbsp;</div>
<div>
	&nbsp;</div>
<div>
	Now, we involve more on situation analysis of the country and identify the gaps in the sector where Heifer works and how Heifer can fill it. We also look at government priorities in the sector where Heifer works while doing situation analysis and find out areas where our strength lies and where we can contribute best to derive optimum benefits for people. Similarly, instead of projects, we will formulate programmes under which projects will cater to at least 1000 families. Rather than five years, now we are making 10 years strategic plan on the basis of nation&rsquo;s priorities, actual situation analysis and value chain studies.&nbsp;</div>
<div>
	&nbsp;</div>
<div>
	<strong>How do you plan to reduce the duplication of the projects under the new plan?&nbsp;</strong></div>
<div>
	It is not an easy task but we are also concerned about it. There are heavy investments made by different organisations in the projects of similar nature that generate few returns. Our sub-projects are implemented in the VDC level. In coordination with the concerned VDC, we try to find what other projects are being implemented there. We also ensure that the projects are not owned by Heifer or an NGO but by that VDC. But, for that, out of the total size of the project, 25 per cent must be contributed by the VDC. As VDC is handed over the responsibilities for project implementation, they will merge similar projects with similar targets by other organisations. As the projects are made in VDC&rsquo;s coordination and implemented and monitored by them, it would largely help to reduce duplication. We started this model from April, 2012 and will be continued also in the future projects.&nbsp;</div>
<div>
	&nbsp;</div>
<div>
	<strong>How do you ensure that the benefits of projects you implement continue even after the project comes to an end?&nbsp;</strong></div>
<div>
	When we design projects we make sure that projects are not owned by Heifer but they are people&rsquo;s project. Local people must take the ownership through the self help groups. If the members of the groups are not willing to help themselves, we do not work there. They must have commitments like compulsory monthly savings and utilising that in productive works. None of the projects of Heifer is longer than two to three years. In many cases I have found that the real impacts of the projects begin after that. Activities like compulsory savings are there to stay once it becomes people&rsquo;s culture. We encourage people to affiliate their groups to cooperatives and tie up with the banks so that it would help them to further expand their business. Such activities make a project sustainable. When the local bodies, VDC and stakeholders are the part of the project, usually the projects become sustainable.&nbsp;</div>
<div>
	&nbsp;</div>
<div>
	<strong>How does Heifer International ensure the transparency of mobilised funds?&nbsp;</strong></div>
<div>
	For this purpose, a project management and implementation committee is formed with representatives from beneficiaries and stakeholders, self help groups, VDC, donors, NGOs and Heifer. This committee has the records of the details of the funds coming for the particular project from a particular source. Monitoring and evaluation of the projects is done at the local level by this committee. This has helped to maintain transparency. Similarly, NGOs responsible for project implementation, must regularly report to us and the Heifer regularly carries out financial monitoring and auditing. If we find any irregularities, we have a zero tolerance policy towards such activities. Such measures have helped maintain high transparency and accountability of resource mobilisation.</div>
<div>
	&nbsp;</div>',
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			'description' => 'Dr Shubh N Mahato is the Country Director of Heifer International Nepal. Heifer has recently announced its strategic plans for the next ten years. The plans are in line with the organisation’s area of work – agriculture, livestock, poverty reduction and livelihood enhancement of 500,000 households across 28 districts. In an interview with Gaurav Aryal of The Corporate, Mahato talked about long term programmes and their sustainability.',
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		'Article' => array(
			'id' => '1457',
			'article_category_id' => '139',
			'title' => 'Nepal And The World News In Brief (22-28 July 2013)',
			'sub_title' => '',
			'summary' => null,
			'content' => '<div>
	<strong><img alt="China Seen Surpassing US in Superpower Shift" src="/userfiles/images/china.jpg" style="float: left; margin: 0px 10px 0px 0px;width: 125px; height: 73px;" />China Seen Surpassing US in Superpower Shift&nbsp;</strong></div>
<div>
	A new Pew Research Center survey of 38,000 people in 39 countries found the widespread belief that China is well on its way. Overall, a majority or plurality of respondents in only six of the countries surveyed believe the U.S. will remain on top. In both the United States and China, an increasing number of respondents agree with this thesis. (Agency)&nbsp;</div>
<div>
	&nbsp;</div>
<div>
	<strong><img alt="Detroit Files for Bankruptcy" src="/userfiles/images/detroit.jpg" style="float: right; margin: 0px 0px 0px 10px;width: 125px; height: 83px;" />Detroit Files for Bankruptcy&nbsp;</strong></div>
<div>
	Detroit, known as the center of US auto industry filed for bankruptcy Thursday, becoming the nation&rsquo;s largest public sector bankruptcy. The move could slash pension benefits to city workers and retirees, and leave bond holders with only pennies on the dollar. The city faces total liabilities of about $18 billion. (Agency)&nbsp;</div>
<div>
	&nbsp;</div>
<div>
	<strong><img alt="Strauss-Kahn" src="/userfiles/images/Strauss-Kahn.jpg" style="float: left; margin: 0px 10px 0px 0px; width: 85px; height: 110px;" />Strauss-Kahn Joins Rosneft bank&nbsp;</strong></div>
<div>
	Two years after resigned as head of the International Monetary Fund (IMF), Dominique Strauss-Kahn has joined the supervisory board of the bank owned by Russia&rsquo;s largest oil company, Rosneft, the bank said last Monday.The 64-year-old Frenchman was appointed one of the 11 board members of the Russian Regional Development Bank, a subsidiary of the state oil company, a bank spokeswoman said. Strauss-Kahn resigned from the IMF in 2011 after a New York hotel maid accused him of rape. (The Hindu Business Line)&nbsp;</div>
<div>
	&nbsp;</div>
<div>
	<strong><img alt="Gold" src="/userfiles/images/Gold.jpg" style="float: right; margin: 0px 0px 0px 10px; width: 125px; height: 89px;" />Gold Up on 2nd Straight Week&nbsp;</strong></div>
<div>
	Gold rose on Friday to notch its second weekly gain after many investors were soothed by the Federal Reserve&rsquo;s assurance this week that it will be careful in tapering its economic stimulus. The spot price of bullion hovered near $1,295 an ounce and U.S. gold futures for August delivery settled at $1,292.90 an ounce.&nbsp;</div>
<div>
	&nbsp;</div>
<div>
	<strong><img alt="G20" src="/userfiles/images/G20.jpg" style="float: left; margin: 0px 10px 0px 0px; width: 125px; height: 83px;" />G20 Puts Growth Before Austerity&nbsp;</strong></div>
<div>
	The Group of 20 nations put growth ahead of austerity, seeking to rebalance a multi-speed global economy and pledging to shift policy carefully so recovery is not derailed by volatile financial markets. Finance ministers and central bank governors meeting in Moscow on Saturday put the finishing touches to a joint communique. (Agency)</div>
<div>
	&nbsp;</div>',
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			'description' => 'A new Pew Research Center survey of 38,000 people in 39 countries found the widespread belief that China is well on its way.',
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		'Article' => array(
			'id' => '1456',
			'article_category_id' => '138',
			'title' => 'Nepal Behind Afghanistan In FDI Inflow',
			'sub_title' => '',
			'summary' => null,
			'content' => '<div>
	<span style="font-size: 12px;">Nepal is trying to lure Foreign Direct Investment (FDI) in various sectors. The Foreign Direct Investment Policy Draft 2013 has suggested active economic diplomacy and transparency to attract more FDI in the country. It has prioritised hydropower, mines and minerals related industries, agriculture and herbs processing, infrastructure development and tourism for FDI. Fast track road, railway, tunnel way, cable car, metro, flyover and international airports have been identified under the infrastructure heading in the FDI Policy Draft. The draft has also fixed a minimum floor of US$ 200,000 for FDI, whereas in hydropower the project should be of at least 30MW to be allowed for FDI.&nbsp;</span></div>
<div>
	&nbsp;</div>
<div>
	However, the lengthening of political transition is taking a toll on FDI inflow in Nepal. According to a report by United Nations Conference on Trade and Development (UNCTAD), Nepal remains one of the worst performers in South Asia to attract FDI. Nepal saw a decline of FDI inflow by 2.85 per cent in 2012. UNCTAD&rsquo;s World Investment Report 2013 informed that Nepal attracted FDI worth US$ 92 million, against the 2011 figure of US$ 95 million. Nepal stood second from bottom in FDI inflow index in 2012 in the region, ahead only of Bhutan. Nepal&rsquo;s performance was poorer than even Afghanistan.&nbsp;</div>
<div>
	&nbsp;</div>
<div>
	The country&rsquo;s poor performance has put a big question mark on Nepal government&rsquo;s efforts. Attracting foreign investment is a strategic agenda for Nepal. The government has long reiterated and pledged policies aiming to lure FDI. However, political instability, inefficient bureaucracy, corruption, lack of infrastructure, restrictive labour regulation etc makes Nepal one of the least competitive economy in the world thereby unable to attract potential FDI. Despite the announcement of Nepal Investment Year 2012-13 and formation of Nepal Investment Board, the prospects of FDI inflow looks bleak in the foreseeable future.</div>
<div>
	&nbsp;</div>',
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			'created' => '2013-07-22',
			'modified' => '0000-00-00',
			'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 is trying to lure Foreign Direct Investment (FDI) in various sectors. The Foreign Direct Investment Policy Draft 2013 has suggested active economic diplomacy and transparency to attract more FDI in the country.',
			'sortorder' => '1317',
			'image' => null,
			'article_date' => '0000-00-00 00:00:00',
			'homepage' => false,
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	(int) 4 => array(
		'Article' => array(
			'id' => '1455',
			'article_category_id' => '137',
			'title' => 'India Relaxes FDI Norms To Boost Slowing Growth',
			'sub_title' => '',
			'summary' => null,
			'content' => '<div>
	&nbsp;</div>
<div>
	India has relaxed foreign direct investment (FDI) rules across several industries, including telecoms, single brand retail and oil and gas, in a bid to lure capital inflows, prop up a sliding currency and accelerate growth. India&rsquo;s weakest economic growth in a decade and a record high current account deficit have made the rupee the worst-performing emerging Asian currency so far this year. The changes will have to be approved by India&rsquo;s cabinet before they become law, although that is seen as a formality. Here are the sectors in which FDI caps will be revised:&nbsp;</div>
<div>
	&nbsp;</div>
<div>
	<strong>Telecoms&nbsp;</strong></div>
<div>
	The FDI cap on the telecoms sector was raised to 100 percent from 74 percent. While a foreign company can buy up to a 49 percent stake in an Indian phone carrier without seeking approval from the Foreign Investment Promotion Board(FIPB), any investment beyond that will need the country&rsquo;s foreign investment regulator&rsquo;s nod.&nbsp;</div>
<div>
	&nbsp;</div>
<div>
	<strong>Petroleum and Natural Gas&nbsp;</strong></div>
<div>
	The FDI cap for the sector was left unchanged at 49 percent, but foreign investment up to 49 percent will no longer require FIPB approval.&nbsp;</div>
<div>
	&nbsp;</div>
<div>
	<strong>Insurance&nbsp;</strong></div>
<div>
	Foreign investment up to 49 percent in insurers will not require the government&rsquo;s approval. The foreign investment limit in the sector is currently capped at 26 percent. A bill to raise the cap to 49 percent is stuck in parliament.&nbsp;</div>
<div>
	&nbsp;</div>
<div>
	<strong>Defence Production&nbsp;</strong></div>
<div>
	There was effectively no change in the FDI cap of 26 percent in the defence sector, although trade minister Anand Sharma said a cabinet panel would consider any FDI proposal for investment above 26 percent in state-of-the-art technology.&nbsp;</div>
<div>
	&nbsp;</div>
<div>
	<strong>Retail&nbsp;</strong></div>
<div>
	FDI up to 49 percent in the single-brand retail sector will no longer require the FIPB&rsquo;s approval. The government also said it will issue clarifications soon on its FDI policy for supermarkets.&nbsp;</div>
<div>
	&nbsp;</div>
<div>
	<strong>Commodity, Power and Stock Exchanges&nbsp;</strong></div>
<div>
	Foreign investment of up to 49 percent will not require the government&rsquo;s approval.&nbsp;</div>
<div>
	&nbsp;</div>
<div>
	<strong>Asset Reconstruction Companies&nbsp;</strong></div>
<div>
	India will allow FDI up to 49 percent with no government approval, but foreign investors will need FIPB approval to buy a bigger stake in an Indian asset reconstruction company.&nbsp;</div>
<div>
	&nbsp;</div>
<div>
	<strong>Courier Services&nbsp;</strong></div>
<div>
	Foreign investors can now invest up to 100 percent in the courier services sector and will not need government approval.&nbsp;</div>
<div>
	&nbsp;</div>
<div>
	<strong>Credit Information Companies&nbsp;</strong></div>
<div>
	India will allow up to 74 percent FDI in credit information companies, with no need to seek government approval for investments up to that level.&nbsp;</div>
<div>
	&nbsp;</div>
<div>
	<strong>Civil Aviation and Media&nbsp;</strong></div>
<div>
	The government left FDI caps in civil aviation and media unchanged at 49 percent and 26 percent respectively.&nbsp;</div>
<div>
	<em>(Agency)</em></div>
<div>
	&nbsp;</div>',
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			'description' => 'India has relaxed foreign direct investment (FDI) rules across several industries, including telecoms, single brand retail and oil and gas, in a bid to lure capital inflows, prop up a sliding currency and accelerate growth. India’s weakest economic growth in a decade and a record high current account deficit have made the rupee the worst-performing emerging Asian currency so far this year.',
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		'Article' => array(
			'id' => '1454',
			'article_category_id' => '136',
			'title' => 'Target 7 Percent Growth (22-28 July 2013)',
			'sub_title' => '',
			'summary' => null,
			'content' => '<div>
	<img alt="Baburam Gautam Assistant Auditor General, Office of the Auditor General (OAG)" src="/userfiles/images/Baburam%20Gautam.jpg" style="float: left; margin: 0px 10px 0px 0px;width: 100px; height: 120px;" /><strong>Baburam Gautam</strong></div>
<div>
	<em>Assistant Auditor General, Office of the Auditor General (OAG)&nbsp;</em></div>
<div>
	&nbsp;</div>
<div>
	Attaining 7 per cent economic growth is not a farfetched target. Firstly, there should be a focus on increasing investment in productive sectors, creation of investment friendly environment, development of human resources and inculcation of financial discipline. A huge amount of government budget is spent in unproductive sectors and, it must be decreased. Distributive and consumptive economic management will make it difficult to attain good economic growth. Both the government and the private sector must increase capital investment in the productive sector. For that, there must be assurance of investment security to attract foreign investments. Similarly, a large number of youths are going abroad and it is adversely affecting the country&rsquo;s development. This young work-force should be able to find employment within the country and they should be mobilised in the productive sector. Government is investing Rs 40-50 billion annually in public enterprises most of whom are making loss. This shows a lack of vision. Likewise, tax is not being used properly and thus, people are unwilling to come under the tax bracket. If economic discipline can be maintained, 7 per cent economic growth is possible to achieve.</div>
<div>
	&nbsp;</div>
<div>
	<img alt="Surendra Bir Malakar General Secretary National Business Initiative (NBI)" src="/userfiles/images/Surendra%20Bir%20Malakar.jpg" style="float: left; margin: 0px 10px 0px 0px;width: 100px; height: 121px;" /><strong>Surendra Bir Malakar</strong></div>
<div>
	<em>General Secretary&nbsp;</em></div>
<div>
	<em>National Business Initiative (NBI)&nbsp;</em></div>
<div>
	&nbsp;</div>
<div>
	There are many issues that need to be settled for Nepal to achieve 7 per cent growth. While some of the issues are political, others are economic. Political parties may have differences in ideologies but they should come together to address economic problems facing the country.&nbsp;</div>
<div>
	&nbsp;</div>
<div>
	The government should concentrate on building physical infrastructure to attract investment. As the economy is afloat only due to remittances, the government should give incentives to businesses that produce export-quality goods. Hydropower holds the key to Nepal&rsquo;s future. If energy is generated through domestic and foreign investment, big strides can be taken in every field.</div>',
			'published' => true,
			'created' => '2013-07-22',
			'modified' => '2013-07-22',
			'keywords' => 'the corporate weekly from Nepal, nepali corporate events – news – interviews – reviews, nepali corporate focus, nepali corporate status and news, news from nepali corporate industry, corporate happenings – events – news from nepal',
			'description' => 'Attaining 7 per cent economic growth is not a farfetched target. Firstly, there should be a focus on increasing investment in productive sectors, creation of investment friendly environment, development of human resources and inculcation of financial discipline.',
			'sortorder' => '1315',
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	(int) 6 => array(
		'Article' => array(
			'id' => '1453',
			'article_category_id' => '135',
			'title' => 'FY 2013-14 Budget: Positive Towards Every Sector',
			'sub_title' => '',
			'summary' => null,
			'content' => '<div>
	<span style="font-size:14px;">Fiscal Year 2013-14 budget of the government has given positive signals towards every sector as it has considered the demands and suggestions from different sectors. The positive signals emanate primarily from the fact that it is the first full-fledged budget brought out before the beginning of the fiscal year in the last three years. Some experts, however, expressed their dissatisfactions over the programmes introduced by the government. The Corporate has gathered views from experts and business communities regarding Budget 2013-14. <strong>Excerpts:</strong></span></div>
<div>
	&nbsp;</div>
<div>
	<img alt="Sekhar Golchha President Nepal Automobile Dealers’ Association (NADA" src="/userfiles/images/shekhar%20golcha.jpg" style="float: left; margin: 0px 10px 0px 0px;width: 100px; height: 126px;" /><strong>Sekhar Golchha&nbsp;</strong></div>
<div>
	<em>President&nbsp;</em></div>
<div>
	<em>Nepal Automobile Dealers&rsquo; Association (NADA)&nbsp;</em></div>
<div>
	Full-fledged budget was not introduced since long. This year, the government introduced full- fledged budget and we think this is a good beginning. A full-fledged budget, despite its shortcomings, will help economy to move forward. We had requested the government to reduce the tax levied on automobiles but government did not do that. Except on alcohol and tobacco, the government has not changed the tax on goods. In this context, there is no space to show our dissatisfaction to the government. If taxes were decreased, it would have helped to increase the economy. Budget has targeted to provide roads to every district, which will have positive impact on business of automobiles. Actually, roads and transportation are the key element for economic growth.</div>
<div>
	&nbsp;</div>
<div>
	<img alt="Ashok Temani Immediate Past President Birgunj Chamber of Commerce and Industry (BiCCI)" src="/userfiles/images/Ashok%20Temani.jpg" style="float: left; margin: 0px 10px 0px 0px;width: 100px; height: 116px;" /><strong>Ashok Temani&nbsp;</strong></div>
<div>
	<em>Immediate Past President&nbsp;</em></div>
<div>
	<em>Birgunj Chamber of Commerce and Industry (BiCCI)&nbsp;</em></div>
<div>
	Budget has covered every aspect. It has focused on physical infrastructure, including energy which is quite positive and commendable. It is worth mention here that five percent economic growth is possible if the major provisions of the budget are implemented effectively. The budget has earmarked money to construct infrastructure for railway, build international airport at Nijgadh, generation of electricity and transmission lines for electricity. These are some instances of development friendly budget allocation. Similarly, government has promised to implement &lsquo;One Village One Product Programme&rsquo;, to develop the agricultural business and to build a ware-house in Kolkata to ease foreign trade.</div>
<div>
	&nbsp;</div>
<div>
	<img alt="Barsha Man Pun,Former Finance Minister" src="/userfiles/images/Barsha%20Man%20Pun.jpg" style="float: left; margin: 0px 10px 0px 0px;width: 100px; height: 115px;" /><strong>Barsha Man Pun</strong></div>
<div>
	<em>Former Finance Minister&nbsp;</em></div>
<div>
	The government has brought programmes violating earlier agreement with the political parties. The size of the budget is quite big and Rs 16 million allocated to hold elections is not justifiable. There is a high chance of manipulation of such a big amount. Political parties had suggested the government to allocate Rs 10 million for the purpose of election. Despite being an election government, this government has brought a number of populist programmes. Similarly, long- term programmes have been added to the budget. It shows that the government is trying to lengthen its tenure.</div>
<div>
	&nbsp;</div>',
			'published' => true,
			'created' => '2013-07-22',
			'modified' => '0000-00-00',
			'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' => 'Fiscal Year 2013-14 budget of the government has given positive signals towards every sector as it has considered the demands and suggestions from different sectors. The positive signals emanate primarily from the fact that it is the first full-fledged budget brought out before the beginning of the fiscal year in the last three years.',
			'sortorder' => '1314',
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	(int) 7 => array(
		'Article' => array(
			'id' => '1452',
			'article_category_id' => '117',
			'title' => 'Comments Regarding Budget Of FY 2013/14 From Different Sectors',
			'sub_title' => '',
			'summary' => null,
			'content' => '<div>
	<span style="font-size:14px;"><strong><img alt="The Federation of Nepalese Chamber of Commerce and Industry (FNCCI)" src="/userfiles/images/FNcci.jpg" style="float: left; margin: 0px 10px 0px 0px; width: 200px; height: 218px;" /><span style="font-size:16px;">&lsquo;FNCCI Welcomes Budget&rsquo;</span>&nbsp;</strong></span></div>
<div>
	&nbsp;</div>
<div>
	Nepal has not had a full -fledged budget since long. The Federation of Nepalese Chamber of Commerce and Industry (FNCCI) is thankful to Finance Minister Shanker Koirala who announced a full -fledged budget of Rs 517.24 billion for the year 2013/14 which will stimulate the national economy. The budget speech set priorities as per recommendations from different quarters and the government has accepted the private sector as a backbone of the economy. The federation also praised the budget for providing more funds to &lsquo;One Village, One Product&rsquo; and &lsquo;One District, One Product&rsquo; programmes promoted by FNCCI.&nbsp;</div>
<div>
	&nbsp;</div>
<div>
	Though the budget has given priority to the development of infrastructure and hydropower along with power transmission line, it lacks incentives for export-oriented industries and substantial programmes to address the existing energy crisis, said the key speakers at a press meet organized by FNCCI. The apex body of the Nepali private sector has said that though the budget holds good long- term programmes for energy supply, it does not encourage private power producers to address energy crisis in the short term.&nbsp;</div>
<div>
	&nbsp;</div>
<div>
	FNCCI also expressed its dissatisfaction on the government&rsquo;s lack of attention on export promotion and import substitutions. The body had urged for reimbursement from the government of VAT paid by private power producers and for reviewing the PPA rates. The government, however, has remained silent in meeting these demands. It has also remained silent in channeling remittance money for hydropower projects, complains FNCCI. Overall, the FNCCI is quite positive regarding the budget and has stated that proper implementation of the budget is the main challenge for government.</div>
<div>
	&nbsp;</div>
<div>
	<span style="font-size:14px;"><strong><img alt="The Confederation of Nepalese Industries (CNI)" src="/userfiles/images/CNI.jpg" style="float: right; margin: 0px 0px 0px 10px; width: 200px; height: 191px;" /><span style="font-size:16px;">&lsquo;CNI Sees Budget as Positive&rsquo;&nbsp;</span></strong></span></div>
<div>
	&nbsp;</div>
<div>
	The Confederation of Nepalese Industries (CNI) has welcomed the budget of FY 2013/14 terming it encouraging to the country&rsquo;s economy. The CNI praised the budget for addressing many of the demands of the private sector. The confederation also thanked the government for introducing a private-sector friendly budget. It is optimistic regarding the budget as besides being focused on holding the election to the Constituent Assembly, the government showed concern towards investment promotion, industrial infrastructure development, resolution of power woes, export promotion and the development of industrial estates and special economic zones (SEZs) with the aim of speeding up economic growth. The CNI, however, expressed its dissatisfaction for the government not paying attention to ease the immediate energy shortages.</div>
<div>
	&nbsp;</div>
<div>
	<span style="font-size:14px;"><strong><img alt="Birgunj Chamber of Commerce &amp; Industry (BiCCI)," src="/userfiles/images/BICCI.jpg" style="float: left; margin: 0px 10px 0px 0px;width: 200px; height: 199px;" /><span style="font-size:16px;">Budget Tries to Address Private Sector&rsquo;s Demands: BiCCI&nbsp;</span></strong></span></div>
<div>
	&nbsp;</div>
<div>
	According to the Birgunj Chamber of Commerce &amp; Industry (BiCCI), FY 2013-14 budgets has addressed the demands of the private sector. The budget has tried to give a proper direction to economic policies. As the government was not able to bring full-fledged budgets on time, there is hope from the current budget which is brought in time. The BCCI welcomes the decision of the government to honour investors who invest Rs 1 billion, to give continuity to Integrated Check Post (ICP) construction in Birgunj and generation of hydro electricity and development of transmission lines.&nbsp;</div>
<div>
	&nbsp;</div>
<div>
	BiCCI has also welcomed that the government has also included in the budget funds for the construction of Birgunj- Pathlaiya six-lane highway, the establishment of Kathmandu-Terai fast track. Nevertheless, the budget is silent on the issue of increasing trade deficit and disequilibrium in imports and exports, as it focuses mainly on imports rather than exports. The government also did not address the demand of concession in VAT for domestic industries.</div>
<div>
	&nbsp;</div>
<div>
	<span style="font-size:14px;"><strong><img alt="Federation of Nepal Cottage and Small Industries (FNCSI)" src="/userfiles/images/fncsi.jpg" style="float: right; margin: 0px 0px 0px 10px;width: 200px; height: 173px;" /><span style="font-size:16px;">&lsquo;FNCSI Expresses Satisfaction at the Budget&rsquo;</span></strong></span></div>
<div>
	&nbsp;</div>
<div>
	Federation of Nepal Cottage and Small Industries (FNCSI) considered the budget to be quite satisfactory because it has addressed the needs and demands of the private sector. The budget has also included the suggestions of industrial sectors which is quite encouraging, says FNCSI. Similarly, it has included plan to prepare the industrial profile of all 75 districts, constructing a new exhibition centre in Kathmandu and international level industrial and trading exhibition centres in Chobhar. The budget gives priority to creating an investment-friendly environment and includes constructing the Nepal Industrial Center in Kathmandu with the cooperation of the government and the private sector. Similarly, it prioritizes in establishing an auction house in Nepalgunj for herbs and a tea auction house in Illam and gives importance to the agriculture and energy sectors. The government aims to make Nepal a developing country along with attaining high economic growth by 2022. The FNCSI has also pointed out the negative points of the budget including ensuring financial access for micro, cottage and small industries. The budget did not introduce clear policies and programmes for increase in export, import substitution and the promotion of micro, cottage and small industries to control trade deficit. The budget did not work on the suggestions given by FNCSI for the promotion and development of micro, cottage and small industries, says FNCSI.</div>',
			'published' => true,
			'created' => '2013-07-22',
			'modified' => '2013-07-22',
			'keywords' => 'the corporate weekly from Nepal, nepali corporate events – news – interviews – reviews, nepali corporate focus, nepali corporate status and news, news from nepali corporate industry, corporate happenings – events – news from nepal',
			'description' => 'Comments Regarding Budget Of FY 2013/14',
			'sortorder' => '1313',
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	(int) 8 => array(
		'Article' => array(
			'id' => '1451',
			'article_category_id' => '122',
			'title' => 'New Beginnings For Incentive Tours And Travels',
			'sub_title' => '',
			'summary' => null,
			'content' => '<div>
	&nbsp;</div>
<div>
	&nbsp;</div>
<table align="right" border="0" cellpadding="1" cellspacing="1">
	<tbody>
		<tr>
			<td>
				<img alt="Nutan Bajracharya,Group General Manager, Incentive Group of Companies" src="/userfiles/images/nutan.jpg" style="width: 225px; height: 248px;" /></td>
		</tr>
		<tr>
			<td style="text-align: center;">
				<strong>Nutan Bajracharya</strong><br />
				<em>Group General Manager<br />
				Incentive Group of Companies</em></td>
		</tr>
	</tbody>
</table>
<div>
	<strong style="font-size: 12px;">--By Sushila Budhathoki</strong></div>
<div>
	&nbsp;</div>
<div>
	The selection of Incentive Tours and Travels Pvt. Ltd, a Kathmandu-based travel agency, as General Sales Agent (GSA) of Air Asia X - the premiere Malaysia budget carrier - is not a co-incidence with the announcement of Visit Malaysia Year 2014, but a result of five years of hard work to achieve such an assignment.&nbsp;</div>
<div>
	&nbsp;</div>
<div>
	The company turned GSA of Air Asia X last year but the excitement of winning the title persists. It was obvious for Incentive Tours and Travel, also known as Incentive Group of Companies, that this wouldbecome a major turning point in their business. Nutan Bajracharya, General Manager of the group says, &ldquo;It happened because of the diligence and hard work of our Chairman Hariman Lama whostarted his career as a messenger in a travel agency..&rdquo; Lama symbolizes the brand image the company is to going to form.&nbsp;</div>
<div>
	Having started off as Incentives Tours and Travels in 1999, the group now acquires two other companies namely Sansui Cargo and Incentive Holidays. With five flights a week to Malaysia, the group acquires 25 percent of market shares in flights to and from Malaysia, according to the company&rsquo;s spokesperson. Within a short span of time, the company has served over 10 thousand tourists from all over the world, mainly theUS, Japan, Europe and South East Asian countries. The company now has anannual turnover of two billion&nbsp;</div>
<div>
	&nbsp;</div>
<div>
	<strong>Targeting the middle class&nbsp;</strong></div>
<div>
	&nbsp;</div>
<div>
	Before the introduction of direct flights and economy tourism packages, only upper class customers were considered to be the target market for international tourism in Nepal. According to the company, it is the sole enterprise that flies people at an affordable fare and targets mostly middle class consumers.. The company has now expanded its services to China, Thailand, Vietnam, Cambodia, India, Bhutan and Tibet. &ldquo;We are now focusing on out-bound tourism because a high number of Nepalis are going abroad daily for jobs, travel or to study,&rdquo; says Bajracharya.&nbsp;</div>
<div>
	&nbsp;</div>
<div>
	Recently, the company has come up with a travel package to Malaysia targeting the middle class in Nepal. &ldquo;We have a four-night-five-day tour package for Malaysia at the price of Rs 49,499and, so far we have received very good bookings,&rdquo; he shares.&nbsp;</div>
<div>
	&nbsp;</div>
<div>
	International ticketing and tour packages as well as cargo all around the world are Incentive&rsquo;s services at the offing. Says Bajracharya: &ldquo;We have trekking and mountaineering as well, in addition to our packages forout-bound tourism.&rdquo; According to him, Air Asia X is gaining popularity among people flying togulf countries and some 200-250 people choose to fly with it every month. The company has a target of increasing this number to 500 passengers per month. Among those who come to Incentive Holidays, Singapore and Malaysia are the most visited destinations.&nbsp;</div>
<div>
	&nbsp;</div>
<div>
	The services of the company include hotel reservations, domestic flights, MICE (Meeting, Incentives, Conferencing and Exhibition), international flights, helicopter charters, special tailored tours and out-bound tours. Bungee jumping, paragliding, mountain flights, jungle safari, tours, sightseeing and white water river rafting are other activities the company has been in the business of. Prior to Incentive Holidays, Incentive Tours and Travels used to handle these businesses.&nbsp;</div>
<div>
	&nbsp;</div>
<div>
	Nutan sees three or four companies as his competitors. He says they have packages for outbound tourists as well butwhen it comes totour packages in Malaysia, competition seems to have been eliminated due to Incentive&rsquo;s alliance with Air Asia.&nbsp;</div>
<div>
	&nbsp;</div>
<div>
	<strong>Human Resource Management&nbsp;</strong></div>
<div>
	&nbsp;</div>
<div>
	Nutan shares that his company follows staff rules and regulations for pay and perks. &ldquo;We hire experts and seek their recommendation to manage our human resource,&rdquo; he says, adding that this system becomes instrumental in keeping the company fine tuned. &ldquo;Even when staff are at leave or in holiday, the company&rsquo;s schedule is not affected since their tasks are handled systematically.&rdquo; Including five Deputy General Managers and board directors, the company currently employs 50 people, among who 17 are women.&nbsp;</div>
<div>
	&nbsp;</div>
<div>
	The company has fixed working hours and holidays for the staff, which according to Nutan are mostly disciplined and rule abiding. In a bid to acknowledge the work of his staff and to further motivate them, the company confers the&lsquo;Staff of the year&rsquo; award annually to those who have worked well and served the company for over five years. . To keep the staff up to mark with international standards, the company often sends them abroad for training and also invites experts from outside to train them.&nbsp;</div>
<div>
	&nbsp;</div>
<div>
	<strong>Challenges and opportunities&nbsp;</strong></div>
<div>
	&nbsp;</div>
<div>
	Since there is a huge opportunity and scope in the tourism sector, it seems that the private companies have not been able to exploit it. Bajracharya is upbeat about the prospect of tourism in Nepal. &ldquo;Although Nepal is a country of amazing extremes including the greatest mountain range and anincredible variety of ecosystems, we have not been able to draw a large number of tourists,&rdquo; he says. &ldquo;Our company strives towards tapping this huge potential by bringing adventurous and luxury travelers from around the world.&rdquo;&nbsp;</div>
<div>
	&nbsp;</div>
<div>
	Like many industries in Nepal, the unpredictable but recurring strikes are having an adverse impact in their business too. Bajracharya says that it not only incurs a huge loss to the economy but also paints a negative image of the country in the international arena. However, he is optimistic about the future of the tourism.. He underlines the need for massive tourism to make it a foremost industry.&nbsp;</div>
<div>
	&nbsp;</div>
<div>
	Hosting the tourist, which was once considered a part of the culture in Nepal, is now growing to be a lucrative business. In his experience, the understanding of tourism benefits among local people has increased. &ldquo;Peoplein remote areas these days are using western-style toilets because they now understand the value of tourism,&rdquo; he observes.&nbsp;</div>
<div>
	&nbsp;</div>
<div>
	Hariman, however, laments the apathy and indifference shown by the government towards the tourism industry. He says, &ldquo;The government is not serious in exploring new tourist destinations. It is least bothered to promote already discovered tourist destinations and trekking trails. For example there isn&rsquo;t a single comprehensive information booklet published by the government consisting of information on tourist destinations in Nepal.&rdquo;&nbsp;</div>
<div>
	&nbsp;</div>
<div>
	<strong>Future Strategy&nbsp;</strong></div>
<div>
	&nbsp;</div>
<div>
	The group aims to become an international travels and tours operator in the near future. The exploration of new international destinations is their immediate plan, targeting the outbound tourists. &ldquo;We are exploring new destinations all around the world catering with services at competitively lower prices,&rdquo; Bajracharyainforms.&nbsp;</div>
<div>
	&nbsp;</div>
<div>
	Speaking about the travel patterns in general, Bajracharaya observes that people usually go for pre-made packages and are relatively clueless about future travel plans.. &ldquo;The ignorance of new destinations is the reason behind this,and this is why we are inviting travelers with new packages as planned by our company,&rdquo; he concludes.</div>
<div>
	&nbsp;</div>
<div>
	<img alt="AirAsia " src="/userfiles/images/airasia1.jpg" style="width: 600px; height: 331px; margin: 5px;" /></div>
<div>
	&nbsp;</div>
<table border="0" cellpadding="10" width="99%">
	<tbody>
		<tr>
			<td bgcolor="#FFFFFF">
				<div>
					<span style="font-size:16px;"><strong>AT A GLANCE</strong></span></div>
				<div>
					&nbsp;</div>
				<div>
					<div>
						<span style="font-size:16px;">Incentives Group of Companies&nbsp;</span></div>
					<div>
						&nbsp;</div>
					<div>
						<strong>Incentives Tours and Travels&nbsp;</strong></div>
					<div>
						&nbsp;</div>
					<div>
						Founded in 1999, the company offers travel and tour packages as well as other services like ticketing, hotel reservation, paragliding andjungle safari.&nbsp;</div>
					<div>
						&nbsp;</div>
					<div>
						<strong>Sansui Cargo&nbsp;</strong></div>
					<div>
						&nbsp;</div>
					<div>
						Founded in 2012, the company provides cargo services all over the world.&nbsp;</div>
					<div>
						&nbsp;</div>
					<div>
						<strong>Incentive Holidays&nbsp;</strong></div>
					<div>
						&nbsp;</div>
					<div>
						Founded in 2012, the company is the GSA of Air Asia X for Nepal and offers special tour packages for Malaysia, China, Vietnam, Cambodia and Thailand.&nbsp;</div>
					<div>
						&nbsp;</div>
					<div>
						<strong>Strengths</strong></div>
					<ul>
						<li>
							Discipline and good working culture&nbsp;</li>
					</ul>
					<div>
						&nbsp;</div>
					<div>
						<strong>Threats </strong></div>
					<ul>
						<li>
							<span style="font-size: 12px;">Political instability&nbsp;</span></li>
						<li>
							Success mantras&nbsp;</li>
						<li>
							Continuity with honesty&nbsp;</li>
						<li>
							Cost efficiency&nbsp;</li>
						<li>
							Good service&nbsp;</li>
					</ul>
					<div>
						&nbsp;</div>
					<div>
						<strong>CSR Activities</strong></div>
					<div>
						&nbsp;</div>
					<div>
						So far the company has been helping flood victims and local clubs as a part of their corporate social responsibility. However, this company is keenly looking to do something more in the travel and tourism sector. Bajracharya says that they are planning to renovate temples, footpaths and other sites of cultural heritage.&nbsp;</div>
					<div>
						&nbsp;</div>
					<div>
						<strong>Individual brand matters&nbsp;</strong></div>
					<div>
						&nbsp;</div>
					<div>
						Asthe chairperson of the group, Lama, has been associated with the travel businessfor approximately 30 years. The prospects he saw in the tourism sector encouraged and led him to establish his own company. Now, his struggle and diligencehas paid him off,making him the owner of the company from his humbles beginnings as messenger for a previous work place.&nbsp;</div>
					<div>
						&nbsp;</div>
					<div>
						In 2000, he got another opportunity to gain an international recognition. His participation at the Global Youth Meet, where youths from around 58 countries were present, gave him an opportunity to project himself as a promising businessman in the tourism business.&nbsp;</div>
					<div>
						&nbsp;</div>
					<div>
						<strong>Networking and Affiliation&nbsp;</strong></div>
					<div>
						&nbsp;</div>
					<div>
						Incentive Tours and Travels is a member of Nepal Association of Travel Agents (NATA). It is also affiliated with Nepal Tourism Board (NTB), International Air Transport Association (IATA), Pacific Air Travel Association (PATA), Trekking Agencies&rsquo; Association of Nepal (TAAN), and various other associations. Nutan informs that his company has links with around 150 hotels in Nepal to use this facility for in-bound tourists.</div>
				</div>
			</td>
		</tr>
	</tbody>
</table>
<p>
	&nbsp;</p>',
			'published' => true,
			'created' => '2013-07-22',
			'modified' => '2013-07-22',
			'keywords' => 'the corporate weekly from Nepal, nepali corporate events – news – interviews – reviews, nepali corporate focus, nepali corporate status and news, news from nepali corporate industry, corporate happenings – events – news from nepal',
			'description' => 'The selection of Incentive Tours and Travels Pvt. Ltd, a Kathmandu-based travel agency, as General Sales Agent (GSA) of Air Asia X - the premiere Malaysia budget carrier - is not a co-incidence with the announcement of Visit Malaysia Year 2014, but a result of five years of hard work to achieve such an assignment.',
			'sortorder' => '1312',
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	(int) 9 => array(
		'Article' => array(
			'id' => '1450',
			'article_category_id' => '160',
			'title' => 'Corptoon Issue 23',
			'sub_title' => '',
			'summary' => null,
			'content' => '<p>
	<img alt="" src="/userfiles/images/Corptoon%2023.jpg" style="width: 600px; height: 857px;" /></p>',
			'published' => true,
			'created' => '2013-07-21',
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			'description' => 'Corptoon',
			'sortorder' => '1311',
			'image' => null,
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	(int) 10 => array(
		'Article' => array(
			'id' => '1449',
			'article_category_id' => '91',
			'title' => 'Microfinance And Agro Friendly Monetary Policy',
			'sub_title' => '',
			'summary' => null,
			'content' => '<div>
	<strong><span style="font-size: 12px;">--BY Siromani Dhungana</span></strong></div>
<div>
	&nbsp;</div>
<div>
	<span style="font-size: 12px;">Nepal Rastra Bank (NRB) has brought out a monetary policy that is specially friendly to strengthening micro-finance and agriculture sectors.</span></div>
<div>
	&nbsp;</div>
<div>
	In the policy announced on Sunday, NRB has cut the Cash Reserve Ratio (CRR) by one percent. With the introduction of new monetary policy, the category &lsquo;A&rsquo; financial institution has to maintain CRR at 5 per cent, while category &lsquo;B&rsquo; and category &lsquo;C&rsquo; institutions have to maintain it at 4.5 per cent and 4 per cent, respectively.</div>
<div>
	&nbsp;</div>
<div>
	Likewise, the policy has fixed the Statutory Liquidity Ratio (SLR) of 12 percent, 9 percent and 8 percent for category A, B and C financial institutions, respectively which is one per cent decrease compared to the previous provision.&nbsp;</div>
<div>
	&nbsp;</div>
<div>
	The central bank has also reduced the refinancing rate for agriculture, hydro-power and others productive sectors to 5 per cent from earlier 6 percent.&nbsp;</div>
<div>
	&nbsp;</div>
<div>
	The central bank failed to address demands put forth by the Nepal Bankers&rsquo; Association (NBA). It has provisioned that the commercial bank has to have a total of 20 percent of outstanding loans in &lsquo;productive&rsquo; sector including at least 12 percent in agriculture and energy sector by end the of May 15, 2015. The association has demanded to relax the provision saying the compulsory provision can create unnecessary pressure to the banks.&nbsp;</div>
<div>
	&nbsp;</div>
<div>
	Similarly, bankers&rsquo; association had also asked the central bank to relax the provision of Credit-Deposit Ratio (CDR) and increase its limitation to 85 percent. But the central bank did not change the provision of CDR from 80 percent.&nbsp;</div>
<div>
	&nbsp;</div>
<div>
	Similarly, Nepal Rastra Bank did not bring any provision to relax real estate lending.&nbsp;</div>
<div>
	&nbsp;</div>
<div>
	NRB says the new monetary policy will help to attain 5.5 per cent economic growth rate as targeted by the government budget for FY 2013-14 and restrict the inflation to 8 per cent in the fiscal year.</div>
<div>
	&nbsp;</div>',
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			'description' => 'Nepal Rastra Bank (NRB) has brought out a monetary policy that is specially friendly to strengthening micro-finance and agriculture sectors.',
			'sortorder' => '1310',
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	(int) 11 => array(
		'Article' => array(
			'id' => '1447',
			'article_category_id' => '34',
			'title' => 'Live Streaming Of Nubiz B-Schools Awards Event',
			'sub_title' => '',
			'summary' => null,
			'content' => '<h2>
	<a href="http://www.abhiyan.com.np/galleries-45">Photo Gallery Of Nubiz B-Schools Awards Event </a><br />
	<br />
	<a href="http://www.abhiyan.com.np/galleries-45"><img alt="B School" src="/userfiles/images/bschool.jpg" style="margin: 10px; width: 200px; height: 120px;" /></a><br />
	<br />
	<iframe frameborder="0" height="340" scrolling="no" src="http://cdn.livestream.com/embed/khumbaya?layout=4&amp;clip=pla_7cf3d9ed-b5a1-4811-acc3-5fded5d4560f&amp;height=340&amp;width=560&amp;autoplay=false" style="border:0;outline:0" width="560"></iframe></h2>
<div style="font-size: 11px;padding-top:10px;text-align:center;width:560px">
	Watch <a href="http://www.livestream.com/?utm_source=lsplayer&amp;utm_medium=embed&amp;utm_campaign=footerlinks" title="live streaming video">live streaming video</a> from <a href="http://www.livestream.com/khumbaya?utm_source=lsplayer&amp;utm_medium=embed&amp;utm_campaign=footerlinks" title="Watch khumbaya at livestream.com">khumbaya</a> at livestream.com</div>
<p>
	&nbsp;</p>
<h2>
	<a href="http://www.livestream.com/khumbaya/folder">Click Here to see all the remaining videos of the event </a></h2>',
			'published' => true,
			'created' => '2013-07-19',
			'modified' => '2013-08-12',
			'keywords' => 'Live Streaming of Nubiz B-Schools Awards Event',
			'description' => 'Live Streaming of Nubiz B-Schools Awards Event',
			'sortorder' => '1309',
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	(int) 12 => array(
		'Article' => array(
			'id' => '1446',
			'article_category_id' => '40',
			'title' => 'Towards Inclusive Growth',
			'sub_title' => '',
			'summary' => null,
			'content' => '<div>
	&nbsp;</div>
<div>
	&nbsp;</div>
<div>
	<span style="font-size: 12px;">It was India&rsquo;s Montek Ahluwalia who coined the phrase &lsquo;inclusive growth&rdquo; in the 1970s with the World Bank (WB) Report &ldquo;Redistribution with Growth&rdquo;; and later it was reckoned that $ 1 per day (currently $ 1.25 per day) as being the line of absolute poverty which had to be traversed to be pro-poor and &lsquo;inclusive&rsquo;.&nbsp;</span></div>
<div>
	&nbsp;</div>
<div>
	Whereas Marx wanted &ldquo;forced redistribution&rdquo; of assets of the feudal and bourgeois classes for inclusion, Ahluwalia wanted redistribution through legal, monetary and fiscal interventions. The problem with both was that, as socialists, the concept lacked faith in the middle class as the true vanguards of democracy-- and the private sector as the true engineers of efficient and rapid economic growth and employment creation.</div>
<div>
	&nbsp;</div>
<div>
	And so this $ 1 a day &lsquo;absolute poverty&rsquo; thesis of Montek Ahluwalia gave birth to the Human Development thesis of Pakistan&rsquo;s Mahbul Haq, which basically sought &lsquo;inclusion&rsquo; by creating equality of opportunities for all those excluded, especially women and the girl child.&nbsp;</div>
<div>
	&nbsp;</div>
<div>
	Haq pioneered the human capital revolution which got us to think of creativity and productivity as the true source of prosperity and human welfare and not the usual underscoring of the importance of natural, physical or financial capital. He got us to think of people as more than just labour. And he made them the centerpiece of development.</div>
<div>
	<img alt="" src="/userfiles/images/cs1.jpg" style="float: left; margin: 0px 10px 0px 0px; width: 220px; height: 328px;" /></div>
<div>
	The Human Development Index is his lasting legacy. Haq learnt from the experience of Pakistan in the 1960s that one could have 7% GDP growth and also suffer acute inequalities and inequities to exclude the poor from the fruits of growth&mdash;and worse, exclude 50% of the population of women who needed to be empowered by the State. He also re-introduced the concept of &lsquo;human security&rsquo; which was the foundation on which the Japanese economic miracle of the 1950s-70s occurred with little or no natural resources.&nbsp;</div>
<div>
	&nbsp;</div>
<div>
	&lsquo;Growth&rsquo; and &lsquo;development&rsquo; are related but different concepts. Growth theories apply to developed nations whereas development theories apply to underdeveloped nations mired in hunger, malnutrition, illiteracy, ill health, superstition, deprivation, exploitation and underemployment of human resources.</div>
<div>
	&nbsp;</div>
<div>
	Inclusive Growth also refers to the need for a &lsquo;balanced growth&rsquo; between (a) agriculture and manufacturing and (b) urban and rural areas of a nation. Thus inter &ndash;industry analysis and input-output models were developed and regional economics became a separate discipline to deal with geographic inequalities in growth. (As early as the 1970s Centre for Economic Development and Administration (CEDA) under Tribhuvan University, intellectually led by the likes of Dr Harka B Gurung and Dr Ratna SJB Rana were doing such seminal work for Nepal for regional balance by examining possible growth centres and corridors, which was waylaid by foreign aid that opted for extraneous models of development. This eventually sowed the seeds of conflict in Nepal with its over-emphasis on the role of the central bureaucracy and a Kathmandu-centric model of development. I am referring to the failed Integrated Development Projects (IRDPs) of the World Bank and the several bilateral donors working in isolation of each other to practically make the central bureaucracy their own dysfunctional and corrupt fiefdoms. It failed because it was costly and opted for decentralization rather than devolution with bottom up local leadership development with people&rsquo;s participation).</div>
<div>
	&nbsp;</div>
<div>
	In the 1980s, a new growth and development paradigm was born-- &lsquo;sustainable growth&rsquo;. It was felt that the cost to the natural environment was not being factored in by the GDP approach as the very success of growth resulted in externalities such as environment degradation, pollution of air, soil, water&mdash;one may say, development&rsquo;s impact was toxic. For most of the time, growth theory was driven by concern for its pace and pattern of growth. Then comes concern for its impact on Nature. And thus was added a new dimension to &lsquo;inclusion&rsquo; theory.&nbsp;</div>
<div>
	<img alt="" src="/userfiles/images/cs2.jpg" style="float: right; margin: 0px 0px 0px 10px; width: 352px; height: 175px;" /></div>
<div>
	In the 1990&rsquo;s, led by Nepal&rsquo;s Gandhian statesman PM Krishna Prasad Bhattarai, a new concept was bestowed to the development paradigm. &lsquo;Pro-poor growth&rsquo; was the term coined by the SAARC Independent Commissioners in 1992 (see the SAARC Secretariat Report: &ldquo;Meeing the Challenge) as it began to grapple with growth models that tended to &lsquo;walk on one foot&rsquo;, as it were. Thus it emphasized Structural and Extended Structural Adjustment Programmes (SAP and ESAP) passionately underwritten by the International Monetary Fund (IMF) and the World Bank in tandem to usher economic and financial reforms since the 1980s.&nbsp;</div>
<div>
	&nbsp;</div>
<div>
	The SAP and E-SAP model of growth and development ignored the contribution that the poor, especially women, could make to growth by treating them as objects of development and not the subjects. Hence the call for &lsquo;pro-poor growth&rsquo; with Organizations of the Poor to be engaged in self help, self development and self management by designing locally based growth and development models unique to its social, cultural and ecological environments. For this to happen, it called for Social Mobilization of the Poor by the State so that they can participate in development and democracy through the mechanism of the Market. It believed that South Asia could have 9% GDP growth with 3% being contributed by the poor themselves, if it followed a strategy of walking on two legs &ndash; (a) priority to agriculture (b) development of labour intensive SMEs in manufacturing (c) human development and human security (d) social mobilization of the poor to create Organizations of the Poor to pursue their own models of growth and at their own pace as also to countervail the power of the ruling and rural elites. Its lasting contribution is the inclusion of &lsquo;social capital&rsquo; as a viable and relevant development model where the local culture should be included, and seen as an enduring asset, along with the traditional local institutions in the form of Community-based Organisations (CBOs) and TVOs. (Alas, the NGOs, sadly, were trying to make them irrelevant being driven by extraneous social and political forces under the banner of universal human rights )&nbsp;</div>
<div>
	<img alt="" src="/userfiles/images/cs3.jpg" style="width: 525px; height: 175px; margin: 10px 25px;" /></div>
<div>
	&nbsp;</div>
<div>
	<strong>Development through Devolution (The Alternative Model for 2015-20)&nbsp;</strong></div>
<div>
	&nbsp;</div>
<div>
	It is unlikely that a top-down driven development paradigm comprising national planning, state enterprises, labour unions &hellip; will allow inclusion of all. This can only happen when opportunities are created for all by supporting markets garnished by agrarian, economic, financial, administrative and labour reforms. Not least maximizing a bottom up development paradigm with maximum scope for local leadership development and culture-specific innovations to achieve MDGs goals and targets by the locals themselves in tune with their own capacity to deliver. This requires that the national think tanks adopt more than Chamber&rsquo;s Participatory Research Approach (PRA) for Participatory Action Research (PAR) as underlined by the SAARC Independent Commission on Poverty Alleviation of 1992.&nbsp;</div>
<div>
	&nbsp;</div>
<div>
	Inclusive Growth must mean growth with productive employment by creating opportunities for jobs and by investing in one&rsquo;s human capital development of own self and family members for the jobs --in the context of globalization The primary focus of inclusive growth must be on quality of human capital and so needs inclusion of Private Sector as the engine of growth since they create jobs for employees and opportunities for the self-employed.&nbsp;</div>
<div>
	&nbsp;</div>
<div>
	Planning must be macro, meso and micro, all harmonized strategically. The Macro Plan must project the desired structure of the economy for the next 25 years and the five year plan must be a human resource development plan that addresses the human capital requirements for the perspective economy of the future (say 2035) based on manpower supply and demand projections and plans judiciously integrated with the educational plan that opens avenues for vocational, apprenticeship, technical and technological for the variety of occupations in the national economy and in the global labour markets.&nbsp;</div>
<div>
	&nbsp;</div>
<div>
	In other words, the State will have 5 Five Year Rolling Macro Plans that will be supplemented by Meso Plans to strategically manage education, health, gender, children, youth, old age, disabled, castes and creeds, urbanization, water, energy, ICT, transportation, investment, saving, capital markets, credit flows, exports, imports, taxation, and also corporate governance, entrepreneurship development, R &amp;D; S&amp;T, and monopoly regulation, for example, depending on the number of Ministries to be created. The fewer the Ministries the better. Let us emphasize that these ministries must move towards being a &lsquo;managerial civil service&rsquo; (as happened in East Asia to turn their economies into Tigers) and not continue to function as the colonial &lsquo;administrative civil service&rsquo; mired in red tape and acutely devoid of horizontal communication and coordination.&nbsp;</div>
<div>
	&nbsp;</div>
<div>
	Competition is the name of the game and with it goes merit &ndash;not reservations. Hence private sector must seek to gather the &lsquo;fortune at the bottom of the pyramid&rsquo; as part of their core business strategies. And SMEs and Micro Enterprises and Social Entrepreneurs are vital actors in the formulation and execution of the national and sector plans, as well as the creation of urban clusters and supply chains.&nbsp;</div>
<div>
	&nbsp;</div>
<div>
	Inclusive growth requires that we take in a host of factors and forces like geography, demography, social factors and forces, governance etc and hence has to be participative to require decisions at all levels and all actors &ndash;not just the state guided by the NPC with its very weak basic and applied research capacities coupled with rapid turnover of planners with the political changes. Such NPCs are a waste of national resources and should be converted to an Advisory Economic Council with the Prime Minister Office (PMO), if they are genuinely needed. What is now needed is Integrated Sector Programming and National Performance Budgets governed by a Fiscal Management and Responsibility Act as exists, for example, in South Korea and India.&nbsp;</div>
<div>
	&nbsp;</div>
<div>
	Inclusive Growth is growth that benefits each and every segment of a society with no exclusions whatever. This means when women&rsquo;s work at home they be paid for and their contribution to the GDP be duly recognized and rewarded.&nbsp;</div>
<div>
	&nbsp;</div>
<div>
	Nepal&rsquo;s development plan has to be framed in the perspective of the opportunities from India, China and Bangladesh in due cognizance of our economic structure and development constraints. It requires our policy planners and private sector to be proactively engaged in national and sector dialogues with each other: to set down targets and outcomes for coordinated policy and designing of sector and multi sector programmes aligned with the annual performance budgets. We have to assess feasible economic growth targets for each 5 yr periods first and foremost in consensus with the political parties&mdash;and not be driven by external agents and fanciful notions of the political leadership who are very, very weak in their understanding of economics and finance.&nbsp;</div>
<div>
	&nbsp;</div>
<div>
	We have to set achievable GDP and sector targets and act accordingly to secure them jointly with the local governments, NGOs and private sector Each target must be supported by country-wide action plan and programme. For example (a) eradication of illiteracy (b) raising GDP by 5.5% (c) agri growth at 4.0% (d) inflation down to 7.5% (e) industrial growth by 10% -- devolved to districts with their own targets set locally (f) lower capital output ratio through more efficient planning, choice of foreign aid and eradication of graft and corruption; ICT for better governance (g) gender budget for gender inclusion to name a few development agenda topics.&nbsp;</div>
<div>
	&nbsp;</div>
<div>
	Immense macro economic benefits have accrued from remittances which is now 25% of GDP. It has helped reduce poverty from 42% (1996) to 24% (2012). It has prevented Nepal from economic collapse and stabilized economic growth at the midterm growth rate of around 3.5- 4% between 2005-13.&nbsp;</div>
<div>
	&nbsp;</div>
<div>
	Yes, costs have been borne at the household and individual levels with the pain and suffering of international migration and debts incurred for it. However, one can take advantage from the challenges by planning the remittance economy better so as to empower women head of household and the girl child with the skills to fill in the job vacancies as happened during WWI ad WW II that liberated women once in for all in the West.&nbsp;</div>
<div>
	&nbsp;</div>
<div>
	<img alt="" src="/userfiles/images/cs4.jpg" style="width: 525px; height: 175px;" /></div>
<div>
	&nbsp;</div>
<div>
	<strong>Conclusions&nbsp;</strong></div>
<div>
	&nbsp;</div>
<div>
	South Asian concept of Inclusiveness is this: all growth and development models must be ingrained in our civilizational heritage&mdash;not that of the Greeks, Romans or Christians or Marx and Mao. Inclusiveness should be based on one&rsquo;s culture adapted for internally to achieve modernity and based on pragmatism for the greatest public good. It seeks to be grounded not on a Capitalist or Socialist Society with all its ideological baggage but on a Humane Society where Planet Earth is a Global Village embodied and enriched by pluralistic cultures and cosmopolitan individuals with multiple identities with equal value, as was bestowed upon us by the eternal wisdom of Swami Vivekanada.&nbsp;</div>
<div>
	&nbsp;</div>
<div>
	Inclusive Growth and Development are super structure means to an end that needs to be holistically entrenched with sound social, economic, ecological and political structures that are themselves inclusive. Let us summarize the parameters and their variables here below:&nbsp;</div>
<div>
	&nbsp;</div>
<div>
	(A) Inclusive Society: formalization of CBOs, organization of the poor, social mobilization, preservation and promotion of multiple identity; maximum role for the social organizations; protects and promotes the joint family system rather than the state acting as nanny and nurse and creates a Commonwealth of Plural Societies with various civil society organizations &ndash;and their national federations-- to represent professional, business, religious, gender and cultural interests;&nbsp;</div>
<div>
	&nbsp;</div>
<div>
	(B) Inclusive Economy: access to credit for all; entrepreneurship development; traditional skill development; community ownership of resources; markets that respect consumer and ecological sovereignties;&nbsp;</div>
<div>
	&nbsp;</div>
<div>
	(C) Inclusive Environment: harmonious nature-people relationships in the context of global warming and climate change , and</div>
<div>
	&nbsp;</div>
<div>
	(D) Inclusive Polity: direct democracy; inclusive institutions &ndash;education, health, access to justice; rule of law; community leadership; empowerment of gram panchayats; modernity through local leadership and local culture ; proportional representation of communities and gender in all political parties for inclusive governance and political leadership and political space to duly elected civil society federations to be represented rotationally in the Upper House of Parliament so that short run political interests are countervailed by long-run non political civil society interests.&nbsp;</div>
<div>
	&nbsp;</div>
<div>
	Finally, given all the above parameters and their variables for inclusion there is really no need for an ethnic-based Inclusive State to render justice to all and the next generations. Yes, we need an Inclusive Constitution to not exclude any. Primarily, to ensure the supremacy of the Constitution and the rule of law by having independent institutions to check the abuse of power by the political authority and guarantee accountability, transparency, competition and merit in the body politic for the larger public good.&nbsp;</div>
<div>
	&nbsp;</div>
<div>
	I submit, we do not even need a federal state. Much wiser to devolve responsibility to the 4440 VDC and 75 Districts and Municipalities for dynamic and harmonious Inclusive Growth and Development of an independent and sovereign Nepal with its territorial integrity intact.&nbsp;</div>
<div>
	&nbsp;</div>
<div>
	<em><span style="font-size:11px;">(Rana is Professor South Asian Institute of Management (SAIM) and Former Finance Minister.)</span></em></div>
<div>
	&nbsp;</div>
<div>
	<img alt="" src="/userfiles/images/cs5.jpg" style="width: 525px; height: 175px; margin: 5px 25px;" /></div>
<div>
	&nbsp;</div>',
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			'description' => 'It is a la mode, these days, to speak of ‘inclusive growth’ and ‘inclusive development’. In Nepal’s case, the Maoists have extended it to ‘inclusive State’: and with it the constitutional and political contours of new Nepal are yet unclear—and remain extremely contentions.',
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	(int) 13 => array(
		'Article' => array(
			'id' => '1445',
			'article_category_id' => '34',
			'title' => 'Thai - Fam Trip',
			'sub_title' => '',
			'summary' => null,
			'content' => '<p>
	Thai Airways International Public Company Limited organised the fam trip to honour the top 7 travel agencies in Nepal, on 7 July. The organised trip was for 6 days which included the exploration of &ldquo;The Sanctuary of Truth, Damnern Saduak &amp; Rose Garden, and Dinner Cruise on &ldquo;Loy Nava&rdquo;; the important destinations of Pattaya and Bangkok in Thailand. In addition to this, Amari Orchid Pattaya and Novotel Bangkok Ploenchit Bangkok organised hotel inspection.<br />
	<br />
	<br />
	<br />
	&nbsp;</p>',
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			'created' => '2013-07-19',
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			'description' => 'Thai Airways International Public Company Limited organised the fam trip to honour the top 7 travel agencies in Nepal, on 7 July. The organised trip was for 6 days which included the exploration of “The Sanctuary of Truth, Damnern Saduak & Rose Garden, and Dinner Cruise on “Loy Nava”;',
			'sortorder' => '1307',
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			'title' => 'Feedback July 2013',
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			'content' => '<div>
	&nbsp;</div>
<h2>
	Merger and Acquisition</h2>
<p>
	<span style="font-size: 12px;">The number of banks and financial institutions (BFI) Nepal has, is by no means small for the size of the economy and geography. The central bank&rsquo;s initiative to lower the number of BFIs through mergers is a a quite welcoming attempt. Mergers and acquisitions, if well executed will result into a more effective, efficient and a stronger company.&nbsp;</span></p>
<p>
	At the moment, merger is not a challenge for the financial market but the number of BFIs in the given size of geography and economy definitely is. Large number of BFIs would mean more amounts of capital accumulated in smaller chunks as fixed assets and capital of the banks that could have been invested in other productive areas. So far, we have not seen banks investing in large projects and making long term investments. This would be possible when banks with strong capital base emerge. It is highly unlikely to happen when capital is spread across more than 30 commercial banks. It is always better to have 10 large banks than having 30 small incapable ones. At the moment, number of problematic BFIs is also increasing. Merger and acquisition should ensure merger of two or more companies into one to make a single strong and capable bank. However, so far, we have not seen merger of two commercial banks.&nbsp;</p>
<p>
	It is argued that if the number of commercial banks comes down, they will be involved in carteling. The central bank should keep an eye to prevent such irregularities. But, when two commercial banks merge, one of the foremost impacts is the large capital base. This makes possible to invest in large projects and create a ground for long term investment which is missing at the moment. The development so far in the merger and acquisition is encouraging but I think it should reach the next level soon.&nbsp;</p>
<p>
	<em>- Sambida Sharma, Balkumari</em></p>
<hr />
<p>
	<strong>Summer Market Trends&nbsp;</strong></p>
<p>
	As the writer argues in &lsquo;Summer Market 2013&rsquo; (Vol. 12 Issue 8 of New Business Age), growing urbanisation and popularity of nuclear families have played their part in giving certain products a boost in the market. However, I believe that these factors are not the only contributors. I think that purchasing power plays a more important role in determining consumption pattern. Fuelled by remittances, purchasing power has been on the rise in Nepal. This has driven up consumption.&nbsp;</p>
<p>
	<em>- Bhimsen Bharati, Kapan</em></p>
<hr />
<p>
	<strong>HELVETAS Partner in Sustainable Development&nbsp;</strong></p>
<p>
	I went through the Development- Partner story about HELVETAS in June 2013 issue. The story revolves around the positive work of the organisation. What it is doing for the benefits of the Nepali people is really encouraging. However, the article failed to provide details about more of its activities. I would have loved to know more about the projects of HELVETAS in detail. For example, about their target areas and people and the extent of the benefits it has created and also the negative impacts it may have caused. It would make the story a more interesting read if views of beneficiaries too were incorporated.&nbsp;</p>
<p>
	<em>- Sushil Chhetri, Budhanilkantha</em></p>
<hr />
<p>
	<strong>Bit of Entertainment Business&nbsp;</strong></p>
<p>
	I have been reading your magazine regularly and I appreciate your efforts to create a business-literate readership. It is good to see that your media is covering different issues related to business and economy. It would also be appreciable if you also could write about entertainment business. I think that would make the magazine more fascinating to read, and will attract young readers too.&nbsp;</p>
<p>
	<em>- Santosh Dhungana, Chabahil</em></p>
<hr />
<p>
	<strong>Century of Indian Cinema&nbsp;</strong></p>
<p>
	When the Indian cinema was celebrating its centenary, it had already collected non-Indian audience base from a number of countries. The Indian cinema or the movie industry popularly known as Bollywood is one of the largest entertainment industries in terms of number of movies produced every year. Though it may have surpassed Hollywood&rsquo;s annual production, it is yet to equalise in terms of revenues collected. From the South Asian perspective, small entertainment industries like that of Nepal could learn a lot from the burgeoning industry next door. But, most of the countries in South Asia have put a ban on Indian cinemas for a long time. Even Nepal had made numerous attempts in the past to ban Hindi cinema. But in absence of quality cinemas produced locally and the access to foreign movies through the satellite televisions, Internet and pirated cheap DVDs, the attempt always remained a failed one as the viewers were never ready for the ban to be imposed. Similar was the situation in other neighbouring countries. There is a huge lack of creativity in the local cinema industry, and instead of getting inspired from the neighbouring industry- the Nepali Film industry has been limited to copying Bollywood, that too badly. There is a lot to learn from a century long experience of Indian cinema and adopt the technology and techniques of storytelling they use rather than merely copying some scenes and dialogues. The neighbouring countries can learn from Indian movie industry the techniques to find a space among global audience.&nbsp;</p>
<p>
	&nbsp;</p>
<p>
	-<em> Prabhat Dhakal, New Baneshwor, Kathmandu</em></p>
<div>
	<div>
		<hr />
		<span style="font-size:11px;"><em>Mail your feedback to P O Box 14197, Kathmandu or Email to <a href="mailto:editor@newbusinessage.com?subject=Re%3AFeedback%20July%202013">editor@newbusinessage.com</a></em></span></div>
	<div>
		<span style="font-size:11px;"><em>The mail will be edited for the purpose of clarity and brevity.</em></span>
		<hr />
	</div>
</div>
<div>
	&nbsp;</div>',
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			'description' => 'The number of banks and financial institutions (BFI) Nepal has, is by no means small for the size of the economy and geography. The central bank’s initiative to lower the number of BFIs through mergers is a a quite welcoming attempt. Mergers and acquisitions, if well executed will result into a more effective, efficient and a stronger company.',
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		'Article' => array(
			'id' => '1459',
			'article_category_id' => '140',
			'title' => 'CPN-Maoist Accepts HLPC Invitation For Talk',
			'sub_title' => '',
			'summary' => null,
			'content' => '<div>
	<strong><span style="font-size: 12px;">--By TC Correspondent</span></strong></div>
<div>
	&nbsp;</div>
<div>
	The CPN-Maoist led alliance of 33 parties has agreed to sit for a dialogue with the High Level Political Mechanism. The decision of 33 dissident parties to agree for a dialogue with the HLPC has come following a formal invitation dispatched by the HLPC coordinator Pushpa Kamal Dahal on Wednesday. The CPN-Maoist leader Secretary Dev Gurung, who is also in a 5-member talk team formed by his party, informed that the dissident alliance has accepted the invitation of the HLPC to sit for negotiations &ldquo;free from any conditions&rdquo;.&nbsp;</div>
<div>
	&nbsp;</div>
<div>
	Meanwhile, the government has also sent an official letter to the CPN-Maoist Chairperson Mohan Baidya on Friday inviting his and other 32 dissenting parties for the talks.&nbsp;</div>
<div>
	&nbsp;</div>
<div>
	Welcoming the step of forming a five-member talks committee by the CPN-Maoist, the government in its letter has said, &ldquo;We have a firm belief that every problem can be resolved through dialogue and discussion. Hence, we would like to invite you and your allies for a dialogue.&rdquo;&nbsp;</div>
<div>
	&nbsp;</div>
<div>
	According to the letter, the time and venue for talks can be determined through mutual understanding.&nbsp;</div>
<div>
	&nbsp;</div>
<div>
	This is the second letter from the government to the poll-opposing parties asking them to sit for talks.&nbsp;</div>
<div>
	&nbsp;</div>
<div>
	The CPN-Maoist led alliance with 32 other parties is protesting against the government announcement to hold the election. The alliance has been demanding that the 11-point and the 25-point agreements reached to remove constitutional difficulties be scrapped. Likewise, the alliance has also pressing for holding the Round Table Conference to settle political and constitutional complications.</div>
<div>
	&nbsp;</div>',
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			'description' => 'The decision of 33 dissident parties to agree for a dialogue with the HLPC has come following a formal invitation dispatched by the HLPC coordinator Pushpa Kamal Dahal on Wednesday.',
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		'Article' => array(
			'id' => '1458',
			'article_category_id' => '161',
			'title' => '‘We Make Sure That Projects Are Not Owned By Heifer But By People’',
			'sub_title' => '',
			'summary' => null,
			'content' => '<div>
	<span style="font-size: 12px;"><img alt="Dr Shubh N Mahato,Country Director of Heifer International Nepal." src="/userfiles/images/Dr%20Shubh%20N%20Mahato.jpg" style="float: left; margin: 0px 10px 0px 0px;width: 150px; height: 182px;" /><span style="font-size:14px;"><em>Dr Shubh N Mahato</em> is the <em>Country Director</em> of <em>Heifer International Nepal</em>. Heifer has recently announced its strategic plans for the next ten years. The plans are in line with the organisation&rsquo;s area of work &ndash; agriculture, livestock, poverty reduction and livelihood enhancement of 500,000 households across 28 districts. In an interview with Gaurav Aryal of The Corporate, Mahato talked about long term programmes and their sustainability. <strong>Excerpts:</strong></span><strong>&nbsp;</strong></span></div>
<div>
	&nbsp;</div>
<div>
	<strong>How is Heifer International&rsquo;s new 10 years strategic plan different than that of the past?&nbsp;</strong></div>
<div>
	Earlier we used to make strategic plans for five years. Earlier, Heifer&rsquo;s staff were mobilised along with the participation of stakeholders. We used to have certain targets and strategies were formulated to achieve them. Then we used to design projects targeting up to 500 households. And, NGOs would take up sub projects to be implemented in their working areas.&nbsp;</div>
<div>
	&nbsp;</div>
<div>
	Now, we involve more on situation analysis of the country and identify the gaps in the sector where Heifer works and how Heifer can fill it. We also look at government priorities in the sector where Heifer works while doing situation analysis and find out areas where our strength lies and where we can contribute best to derive optimum benefits for people. Similarly, instead of projects, we will formulate programmes under which projects will cater to at least 1000 families. Rather than five years, now we are making 10 years strategic plan on the basis of nation&rsquo;s priorities, actual situation analysis and value chain studies.&nbsp;</div>
<div>
	&nbsp;</div>
<div>
	<strong>How do you plan to reduce the duplication of the projects under the new plan?&nbsp;</strong></div>
<div>
	It is not an easy task but we are also concerned about it. There are heavy investments made by different organisations in the projects of similar nature that generate few returns. Our sub-projects are implemented in the VDC level. In coordination with the concerned VDC, we try to find what other projects are being implemented there. We also ensure that the projects are not owned by Heifer or an NGO but by that VDC. But, for that, out of the total size of the project, 25 per cent must be contributed by the VDC. As VDC is handed over the responsibilities for project implementation, they will merge similar projects with similar targets by other organisations. As the projects are made in VDC&rsquo;s coordination and implemented and monitored by them, it would largely help to reduce duplication. We started this model from April, 2012 and will be continued also in the future projects.&nbsp;</div>
<div>
	&nbsp;</div>
<div>
	<strong>How do you ensure that the benefits of projects you implement continue even after the project comes to an end?&nbsp;</strong></div>
<div>
	When we design projects we make sure that projects are not owned by Heifer but they are people&rsquo;s project. Local people must take the ownership through the self help groups. If the members of the groups are not willing to help themselves, we do not work there. They must have commitments like compulsory monthly savings and utilising that in productive works. None of the projects of Heifer is longer than two to three years. In many cases I have found that the real impacts of the projects begin after that. Activities like compulsory savings are there to stay once it becomes people&rsquo;s culture. We encourage people to affiliate their groups to cooperatives and tie up with the banks so that it would help them to further expand their business. Such activities make a project sustainable. When the local bodies, VDC and stakeholders are the part of the project, usually the projects become sustainable.&nbsp;</div>
<div>
	&nbsp;</div>
<div>
	<strong>How does Heifer International ensure the transparency of mobilised funds?&nbsp;</strong></div>
<div>
	For this purpose, a project management and implementation committee is formed with representatives from beneficiaries and stakeholders, self help groups, VDC, donors, NGOs and Heifer. This committee has the records of the details of the funds coming for the particular project from a particular source. Monitoring and evaluation of the projects is done at the local level by this committee. This has helped to maintain transparency. Similarly, NGOs responsible for project implementation, must regularly report to us and the Heifer regularly carries out financial monitoring and auditing. If we find any irregularities, we have a zero tolerance policy towards such activities. Such measures have helped maintain high transparency and accountability of resource mobilisation.</div>
<div>
	&nbsp;</div>',
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			'description' => 'Dr Shubh N Mahato is the Country Director of Heifer International Nepal. Heifer has recently announced its strategic plans for the next ten years. The plans are in line with the organisation’s area of work – agriculture, livestock, poverty reduction and livelihood enhancement of 500,000 households across 28 districts. In an interview with Gaurav Aryal of The Corporate, Mahato talked about long term programmes and their sustainability.',
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		'Article' => array(
			'id' => '1457',
			'article_category_id' => '139',
			'title' => 'Nepal And The World News In Brief (22-28 July 2013)',
			'sub_title' => '',
			'summary' => null,
			'content' => '<div>
	<strong><img alt="China Seen Surpassing US in Superpower Shift" src="/userfiles/images/china.jpg" style="float: left; margin: 0px 10px 0px 0px;width: 125px; height: 73px;" />China Seen Surpassing US in Superpower Shift&nbsp;</strong></div>
<div>
	A new Pew Research Center survey of 38,000 people in 39 countries found the widespread belief that China is well on its way. Overall, a majority or plurality of respondents in only six of the countries surveyed believe the U.S. will remain on top. In both the United States and China, an increasing number of respondents agree with this thesis. (Agency)&nbsp;</div>
<div>
	&nbsp;</div>
<div>
	<strong><img alt="Detroit Files for Bankruptcy" src="/userfiles/images/detroit.jpg" style="float: right; margin: 0px 0px 0px 10px;width: 125px; height: 83px;" />Detroit Files for Bankruptcy&nbsp;</strong></div>
<div>
	Detroit, known as the center of US auto industry filed for bankruptcy Thursday, becoming the nation&rsquo;s largest public sector bankruptcy. The move could slash pension benefits to city workers and retirees, and leave bond holders with only pennies on the dollar. The city faces total liabilities of about $18 billion. (Agency)&nbsp;</div>
<div>
	&nbsp;</div>
<div>
	<strong><img alt="Strauss-Kahn" src="/userfiles/images/Strauss-Kahn.jpg" style="float: left; margin: 0px 10px 0px 0px; width: 85px; height: 110px;" />Strauss-Kahn Joins Rosneft bank&nbsp;</strong></div>
<div>
	Two years after resigned as head of the International Monetary Fund (IMF), Dominique Strauss-Kahn has joined the supervisory board of the bank owned by Russia&rsquo;s largest oil company, Rosneft, the bank said last Monday.The 64-year-old Frenchman was appointed one of the 11 board members of the Russian Regional Development Bank, a subsidiary of the state oil company, a bank spokeswoman said. Strauss-Kahn resigned from the IMF in 2011 after a New York hotel maid accused him of rape. (The Hindu Business Line)&nbsp;</div>
<div>
	&nbsp;</div>
<div>
	<strong><img alt="Gold" src="/userfiles/images/Gold.jpg" style="float: right; margin: 0px 0px 0px 10px; width: 125px; height: 89px;" />Gold Up on 2nd Straight Week&nbsp;</strong></div>
<div>
	Gold rose on Friday to notch its second weekly gain after many investors were soothed by the Federal Reserve&rsquo;s assurance this week that it will be careful in tapering its economic stimulus. The spot price of bullion hovered near $1,295 an ounce and U.S. gold futures for August delivery settled at $1,292.90 an ounce.&nbsp;</div>
<div>
	&nbsp;</div>
<div>
	<strong><img alt="G20" src="/userfiles/images/G20.jpg" style="float: left; margin: 0px 10px 0px 0px; width: 125px; height: 83px;" />G20 Puts Growth Before Austerity&nbsp;</strong></div>
<div>
	The Group of 20 nations put growth ahead of austerity, seeking to rebalance a multi-speed global economy and pledging to shift policy carefully so recovery is not derailed by volatile financial markets. Finance ministers and central bank governors meeting in Moscow on Saturday put the finishing touches to a joint communique. (Agency)</div>
<div>
	&nbsp;</div>',
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			'description' => 'A new Pew Research Center survey of 38,000 people in 39 countries found the widespread belief that China is well on its way.',
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	(int) 3 => array(
		'Article' => array(
			'id' => '1456',
			'article_category_id' => '138',
			'title' => 'Nepal Behind Afghanistan In FDI Inflow',
			'sub_title' => '',
			'summary' => null,
			'content' => '<div>
	<span style="font-size: 12px;">Nepal is trying to lure Foreign Direct Investment (FDI) in various sectors. The Foreign Direct Investment Policy Draft 2013 has suggested active economic diplomacy and transparency to attract more FDI in the country. It has prioritised hydropower, mines and minerals related industries, agriculture and herbs processing, infrastructure development and tourism for FDI. Fast track road, railway, tunnel way, cable car, metro, flyover and international airports have been identified under the infrastructure heading in the FDI Policy Draft. The draft has also fixed a minimum floor of US$ 200,000 for FDI, whereas in hydropower the project should be of at least 30MW to be allowed for FDI.&nbsp;</span></div>
<div>
	&nbsp;</div>
<div>
	However, the lengthening of political transition is taking a toll on FDI inflow in Nepal. According to a report by United Nations Conference on Trade and Development (UNCTAD), Nepal remains one of the worst performers in South Asia to attract FDI. Nepal saw a decline of FDI inflow by 2.85 per cent in 2012. UNCTAD&rsquo;s World Investment Report 2013 informed that Nepal attracted FDI worth US$ 92 million, against the 2011 figure of US$ 95 million. Nepal stood second from bottom in FDI inflow index in 2012 in the region, ahead only of Bhutan. Nepal&rsquo;s performance was poorer than even Afghanistan.&nbsp;</div>
<div>
	&nbsp;</div>
<div>
	The country&rsquo;s poor performance has put a big question mark on Nepal government&rsquo;s efforts. Attracting foreign investment is a strategic agenda for Nepal. The government has long reiterated and pledged policies aiming to lure FDI. However, political instability, inefficient bureaucracy, corruption, lack of infrastructure, restrictive labour regulation etc makes Nepal one of the least competitive economy in the world thereby unable to attract potential FDI. Despite the announcement of Nepal Investment Year 2012-13 and formation of Nepal Investment Board, the prospects of FDI inflow looks bleak in the foreseeable future.</div>
<div>
	&nbsp;</div>',
			'published' => true,
			'created' => '2013-07-22',
			'modified' => '0000-00-00',
			'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 is trying to lure Foreign Direct Investment (FDI) in various sectors. The Foreign Direct Investment Policy Draft 2013 has suggested active economic diplomacy and transparency to attract more FDI in the country.',
			'sortorder' => '1317',
			'image' => null,
			'article_date' => '0000-00-00 00:00:00',
			'homepage' => false,
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	(int) 4 => array(
		'Article' => array(
			'id' => '1455',
			'article_category_id' => '137',
			'title' => 'India Relaxes FDI Norms To Boost Slowing Growth',
			'sub_title' => '',
			'summary' => null,
			'content' => '<div>
	&nbsp;</div>
<div>
	India has relaxed foreign direct investment (FDI) rules across several industries, including telecoms, single brand retail and oil and gas, in a bid to lure capital inflows, prop up a sliding currency and accelerate growth. India&rsquo;s weakest economic growth in a decade and a record high current account deficit have made the rupee the worst-performing emerging Asian currency so far this year. The changes will have to be approved by India&rsquo;s cabinet before they become law, although that is seen as a formality. Here are the sectors in which FDI caps will be revised:&nbsp;</div>
<div>
	&nbsp;</div>
<div>
	<strong>Telecoms&nbsp;</strong></div>
<div>
	The FDI cap on the telecoms sector was raised to 100 percent from 74 percent. While a foreign company can buy up to a 49 percent stake in an Indian phone carrier without seeking approval from the Foreign Investment Promotion Board(FIPB), any investment beyond that will need the country&rsquo;s foreign investment regulator&rsquo;s nod.&nbsp;</div>
<div>
	&nbsp;</div>
<div>
	<strong>Petroleum and Natural Gas&nbsp;</strong></div>
<div>
	The FDI cap for the sector was left unchanged at 49 percent, but foreign investment up to 49 percent will no longer require FIPB approval.&nbsp;</div>
<div>
	&nbsp;</div>
<div>
	<strong>Insurance&nbsp;</strong></div>
<div>
	Foreign investment up to 49 percent in insurers will not require the government&rsquo;s approval. The foreign investment limit in the sector is currently capped at 26 percent. A bill to raise the cap to 49 percent is stuck in parliament.&nbsp;</div>
<div>
	&nbsp;</div>
<div>
	<strong>Defence Production&nbsp;</strong></div>
<div>
	There was effectively no change in the FDI cap of 26 percent in the defence sector, although trade minister Anand Sharma said a cabinet panel would consider any FDI proposal for investment above 26 percent in state-of-the-art technology.&nbsp;</div>
<div>
	&nbsp;</div>
<div>
	<strong>Retail&nbsp;</strong></div>
<div>
	FDI up to 49 percent in the single-brand retail sector will no longer require the FIPB&rsquo;s approval. The government also said it will issue clarifications soon on its FDI policy for supermarkets.&nbsp;</div>
<div>
	&nbsp;</div>
<div>
	<strong>Commodity, Power and Stock Exchanges&nbsp;</strong></div>
<div>
	Foreign investment of up to 49 percent will not require the government&rsquo;s approval.&nbsp;</div>
<div>
	&nbsp;</div>
<div>
	<strong>Asset Reconstruction Companies&nbsp;</strong></div>
<div>
	India will allow FDI up to 49 percent with no government approval, but foreign investors will need FIPB approval to buy a bigger stake in an Indian asset reconstruction company.&nbsp;</div>
<div>
	&nbsp;</div>
<div>
	<strong>Courier Services&nbsp;</strong></div>
<div>
	Foreign investors can now invest up to 100 percent in the courier services sector and will not need government approval.&nbsp;</div>
<div>
	&nbsp;</div>
<div>
	<strong>Credit Information Companies&nbsp;</strong></div>
<div>
	India will allow up to 74 percent FDI in credit information companies, with no need to seek government approval for investments up to that level.&nbsp;</div>
<div>
	&nbsp;</div>
<div>
	<strong>Civil Aviation and Media&nbsp;</strong></div>
<div>
	The government left FDI caps in civil aviation and media unchanged at 49 percent and 26 percent respectively.&nbsp;</div>
<div>
	<em>(Agency)</em></div>
<div>
	&nbsp;</div>',
			'published' => true,
			'created' => '2013-07-22',
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			'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' => 'India has relaxed foreign direct investment (FDI) rules across several industries, including telecoms, single brand retail and oil and gas, in a bid to lure capital inflows, prop up a sliding currency and accelerate growth. India’s weakest economic growth in a decade and a record high current account deficit have made the rupee the worst-performing emerging Asian currency so far this year.',
			'sortorder' => '1316',
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	(int) 5 => array(
		'Article' => array(
			'id' => '1454',
			'article_category_id' => '136',
			'title' => 'Target 7 Percent Growth (22-28 July 2013)',
			'sub_title' => '',
			'summary' => null,
			'content' => '<div>
	<img alt="Baburam Gautam Assistant Auditor General, Office of the Auditor General (OAG)" src="/userfiles/images/Baburam%20Gautam.jpg" style="float: left; margin: 0px 10px 0px 0px;width: 100px; height: 120px;" /><strong>Baburam Gautam</strong></div>
<div>
	<em>Assistant Auditor General, Office of the Auditor General (OAG)&nbsp;</em></div>
<div>
	&nbsp;</div>
<div>
	Attaining 7 per cent economic growth is not a farfetched target. Firstly, there should be a focus on increasing investment in productive sectors, creation of investment friendly environment, development of human resources and inculcation of financial discipline. A huge amount of government budget is spent in unproductive sectors and, it must be decreased. Distributive and consumptive economic management will make it difficult to attain good economic growth. Both the government and the private sector must increase capital investment in the productive sector. For that, there must be assurance of investment security to attract foreign investments. Similarly, a large number of youths are going abroad and it is adversely affecting the country&rsquo;s development. This young work-force should be able to find employment within the country and they should be mobilised in the productive sector. Government is investing Rs 40-50 billion annually in public enterprises most of whom are making loss. This shows a lack of vision. Likewise, tax is not being used properly and thus, people are unwilling to come under the tax bracket. If economic discipline can be maintained, 7 per cent economic growth is possible to achieve.</div>
<div>
	&nbsp;</div>
<div>
	<img alt="Surendra Bir Malakar General Secretary National Business Initiative (NBI)" src="/userfiles/images/Surendra%20Bir%20Malakar.jpg" style="float: left; margin: 0px 10px 0px 0px;width: 100px; height: 121px;" /><strong>Surendra Bir Malakar</strong></div>
<div>
	<em>General Secretary&nbsp;</em></div>
<div>
	<em>National Business Initiative (NBI)&nbsp;</em></div>
<div>
	&nbsp;</div>
<div>
	There are many issues that need to be settled for Nepal to achieve 7 per cent growth. While some of the issues are political, others are economic. Political parties may have differences in ideologies but they should come together to address economic problems facing the country.&nbsp;</div>
<div>
	&nbsp;</div>
<div>
	The government should concentrate on building physical infrastructure to attract investment. As the economy is afloat only due to remittances, the government should give incentives to businesses that produce export-quality goods. Hydropower holds the key to Nepal&rsquo;s future. If energy is generated through domestic and foreign investment, big strides can be taken in every field.</div>',
			'published' => true,
			'created' => '2013-07-22',
			'modified' => '2013-07-22',
			'keywords' => 'the corporate weekly from Nepal, nepali corporate events – news – interviews – reviews, nepali corporate focus, nepali corporate status and news, news from nepali corporate industry, corporate happenings – events – news from nepal',
			'description' => 'Attaining 7 per cent economic growth is not a farfetched target. Firstly, there should be a focus on increasing investment in productive sectors, creation of investment friendly environment, development of human resources and inculcation of financial discipline.',
			'sortorder' => '1315',
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	(int) 6 => array(
		'Article' => array(
			'id' => '1453',
			'article_category_id' => '135',
			'title' => 'FY 2013-14 Budget: Positive Towards Every Sector',
			'sub_title' => '',
			'summary' => null,
			'content' => '<div>
	<span style="font-size:14px;">Fiscal Year 2013-14 budget of the government has given positive signals towards every sector as it has considered the demands and suggestions from different sectors. The positive signals emanate primarily from the fact that it is the first full-fledged budget brought out before the beginning of the fiscal year in the last three years. Some experts, however, expressed their dissatisfactions over the programmes introduced by the government. The Corporate has gathered views from experts and business communities regarding Budget 2013-14. <strong>Excerpts:</strong></span></div>
<div>
	&nbsp;</div>
<div>
	<img alt="Sekhar Golchha President Nepal Automobile Dealers’ Association (NADA" src="/userfiles/images/shekhar%20golcha.jpg" style="float: left; margin: 0px 10px 0px 0px;width: 100px; height: 126px;" /><strong>Sekhar Golchha&nbsp;</strong></div>
<div>
	<em>President&nbsp;</em></div>
<div>
	<em>Nepal Automobile Dealers&rsquo; Association (NADA)&nbsp;</em></div>
<div>
	Full-fledged budget was not introduced since long. This year, the government introduced full- fledged budget and we think this is a good beginning. A full-fledged budget, despite its shortcomings, will help economy to move forward. We had requested the government to reduce the tax levied on automobiles but government did not do that. Except on alcohol and tobacco, the government has not changed the tax on goods. In this context, there is no space to show our dissatisfaction to the government. If taxes were decreased, it would have helped to increase the economy. Budget has targeted to provide roads to every district, which will have positive impact on business of automobiles. Actually, roads and transportation are the key element for economic growth.</div>
<div>
	&nbsp;</div>
<div>
	<img alt="Ashok Temani Immediate Past President Birgunj Chamber of Commerce and Industry (BiCCI)" src="/userfiles/images/Ashok%20Temani.jpg" style="float: left; margin: 0px 10px 0px 0px;width: 100px; height: 116px;" /><strong>Ashok Temani&nbsp;</strong></div>
<div>
	<em>Immediate Past President&nbsp;</em></div>
<div>
	<em>Birgunj Chamber of Commerce and Industry (BiCCI)&nbsp;</em></div>
<div>
	Budget has covered every aspect. It has focused on physical infrastructure, including energy which is quite positive and commendable. It is worth mention here that five percent economic growth is possible if the major provisions of the budget are implemented effectively. The budget has earmarked money to construct infrastructure for railway, build international airport at Nijgadh, generation of electricity and transmission lines for electricity. These are some instances of development friendly budget allocation. Similarly, government has promised to implement &lsquo;One Village One Product Programme&rsquo;, to develop the agricultural business and to build a ware-house in Kolkata to ease foreign trade.</div>
<div>
	&nbsp;</div>
<div>
	<img alt="Barsha Man Pun,Former Finance Minister" src="/userfiles/images/Barsha%20Man%20Pun.jpg" style="float: left; margin: 0px 10px 0px 0px;width: 100px; height: 115px;" /><strong>Barsha Man Pun</strong></div>
<div>
	<em>Former Finance Minister&nbsp;</em></div>
<div>
	The government has brought programmes violating earlier agreement with the political parties. The size of the budget is quite big and Rs 16 million allocated to hold elections is not justifiable. There is a high chance of manipulation of such a big amount. Political parties had suggested the government to allocate Rs 10 million for the purpose of election. Despite being an election government, this government has brought a number of populist programmes. Similarly, long- term programmes have been added to the budget. It shows that the government is trying to lengthen its tenure.</div>
<div>
	&nbsp;</div>',
			'published' => true,
			'created' => '2013-07-22',
			'modified' => '0000-00-00',
			'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' => 'Fiscal Year 2013-14 budget of the government has given positive signals towards every sector as it has considered the demands and suggestions from different sectors. The positive signals emanate primarily from the fact that it is the first full-fledged budget brought out before the beginning of the fiscal year in the last three years.',
			'sortorder' => '1314',
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	(int) 7 => array(
		'Article' => array(
			'id' => '1452',
			'article_category_id' => '117',
			'title' => 'Comments Regarding Budget Of FY 2013/14 From Different Sectors',
			'sub_title' => '',
			'summary' => null,
			'content' => '<div>
	<span style="font-size:14px;"><strong><img alt="The Federation of Nepalese Chamber of Commerce and Industry (FNCCI)" src="/userfiles/images/FNcci.jpg" style="float: left; margin: 0px 10px 0px 0px; width: 200px; height: 218px;" /><span style="font-size:16px;">&lsquo;FNCCI Welcomes Budget&rsquo;</span>&nbsp;</strong></span></div>
<div>
	&nbsp;</div>
<div>
	Nepal has not had a full -fledged budget since long. The Federation of Nepalese Chamber of Commerce and Industry (FNCCI) is thankful to Finance Minister Shanker Koirala who announced a full -fledged budget of Rs 517.24 billion for the year 2013/14 which will stimulate the national economy. The budget speech set priorities as per recommendations from different quarters and the government has accepted the private sector as a backbone of the economy. The federation also praised the budget for providing more funds to &lsquo;One Village, One Product&rsquo; and &lsquo;One District, One Product&rsquo; programmes promoted by FNCCI.&nbsp;</div>
<div>
	&nbsp;</div>
<div>
	Though the budget has given priority to the development of infrastructure and hydropower along with power transmission line, it lacks incentives for export-oriented industries and substantial programmes to address the existing energy crisis, said the key speakers at a press meet organized by FNCCI. The apex body of the Nepali private sector has said that though the budget holds good long- term programmes for energy supply, it does not encourage private power producers to address energy crisis in the short term.&nbsp;</div>
<div>
	&nbsp;</div>
<div>
	FNCCI also expressed its dissatisfaction on the government&rsquo;s lack of attention on export promotion and import substitutions. The body had urged for reimbursement from the government of VAT paid by private power producers and for reviewing the PPA rates. The government, however, has remained silent in meeting these demands. It has also remained silent in channeling remittance money for hydropower projects, complains FNCCI. Overall, the FNCCI is quite positive regarding the budget and has stated that proper implementation of the budget is the main challenge for government.</div>
<div>
	&nbsp;</div>
<div>
	<span style="font-size:14px;"><strong><img alt="The Confederation of Nepalese Industries (CNI)" src="/userfiles/images/CNI.jpg" style="float: right; margin: 0px 0px 0px 10px; width: 200px; height: 191px;" /><span style="font-size:16px;">&lsquo;CNI Sees Budget as Positive&rsquo;&nbsp;</span></strong></span></div>
<div>
	&nbsp;</div>
<div>
	The Confederation of Nepalese Industries (CNI) has welcomed the budget of FY 2013/14 terming it encouraging to the country&rsquo;s economy. The CNI praised the budget for addressing many of the demands of the private sector. The confederation also thanked the government for introducing a private-sector friendly budget. It is optimistic regarding the budget as besides being focused on holding the election to the Constituent Assembly, the government showed concern towards investment promotion, industrial infrastructure development, resolution of power woes, export promotion and the development of industrial estates and special economic zones (SEZs) with the aim of speeding up economic growth. The CNI, however, expressed its dissatisfaction for the government not paying attention to ease the immediate energy shortages.</div>
<div>
	&nbsp;</div>
<div>
	<span style="font-size:14px;"><strong><img alt="Birgunj Chamber of Commerce &amp; Industry (BiCCI)," src="/userfiles/images/BICCI.jpg" style="float: left; margin: 0px 10px 0px 0px;width: 200px; height: 199px;" /><span style="font-size:16px;">Budget Tries to Address Private Sector&rsquo;s Demands: BiCCI&nbsp;</span></strong></span></div>
<div>
	&nbsp;</div>
<div>
	According to the Birgunj Chamber of Commerce &amp; Industry (BiCCI), FY 2013-14 budgets has addressed the demands of the private sector. The budget has tried to give a proper direction to economic policies. As the government was not able to bring full-fledged budgets on time, there is hope from the current budget which is brought in time. The BCCI welcomes the decision of the government to honour investors who invest Rs 1 billion, to give continuity to Integrated Check Post (ICP) construction in Birgunj and generation of hydro electricity and development of transmission lines.&nbsp;</div>
<div>
	&nbsp;</div>
<div>
	BiCCI has also welcomed that the government has also included in the budget funds for the construction of Birgunj- Pathlaiya six-lane highway, the establishment of Kathmandu-Terai fast track. Nevertheless, the budget is silent on the issue of increasing trade deficit and disequilibrium in imports and exports, as it focuses mainly on imports rather than exports. The government also did not address the demand of concession in VAT for domestic industries.</div>
<div>
	&nbsp;</div>
<div>
	<span style="font-size:14px;"><strong><img alt="Federation of Nepal Cottage and Small Industries (FNCSI)" src="/userfiles/images/fncsi.jpg" style="float: right; margin: 0px 0px 0px 10px;width: 200px; height: 173px;" /><span style="font-size:16px;">&lsquo;FNCSI Expresses Satisfaction at the Budget&rsquo;</span></strong></span></div>
<div>
	&nbsp;</div>
<div>
	Federation of Nepal Cottage and Small Industries (FNCSI) considered the budget to be quite satisfactory because it has addressed the needs and demands of the private sector. The budget has also included the suggestions of industrial sectors which is quite encouraging, says FNCSI. Similarly, it has included plan to prepare the industrial profile of all 75 districts, constructing a new exhibition centre in Kathmandu and international level industrial and trading exhibition centres in Chobhar. The budget gives priority to creating an investment-friendly environment and includes constructing the Nepal Industrial Center in Kathmandu with the cooperation of the government and the private sector. Similarly, it prioritizes in establishing an auction house in Nepalgunj for herbs and a tea auction house in Illam and gives importance to the agriculture and energy sectors. The government aims to make Nepal a developing country along with attaining high economic growth by 2022. The FNCSI has also pointed out the negative points of the budget including ensuring financial access for micro, cottage and small industries. The budget did not introduce clear policies and programmes for increase in export, import substitution and the promotion of micro, cottage and small industries to control trade deficit. The budget did not work on the suggestions given by FNCSI for the promotion and development of micro, cottage and small industries, says FNCSI.</div>',
			'published' => true,
			'created' => '2013-07-22',
			'modified' => '2013-07-22',
			'keywords' => 'the corporate weekly from Nepal, nepali corporate events – news – interviews – reviews, nepali corporate focus, nepali corporate status and news, news from nepali corporate industry, corporate happenings – events – news from nepal',
			'description' => 'Comments Regarding Budget Of FY 2013/14',
			'sortorder' => '1313',
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	(int) 8 => array(
		'Article' => array(
			'id' => '1451',
			'article_category_id' => '122',
			'title' => 'New Beginnings For Incentive Tours And Travels',
			'sub_title' => '',
			'summary' => null,
			'content' => '<div>
	&nbsp;</div>
<div>
	&nbsp;</div>
<table align="right" border="0" cellpadding="1" cellspacing="1">
	<tbody>
		<tr>
			<td>
				<img alt="Nutan Bajracharya,Group General Manager, Incentive Group of Companies" src="/userfiles/images/nutan.jpg" style="width: 225px; height: 248px;" /></td>
		</tr>
		<tr>
			<td style="text-align: center;">
				<strong>Nutan Bajracharya</strong><br />
				<em>Group General Manager<br />
				Incentive Group of Companies</em></td>
		</tr>
	</tbody>
</table>
<div>
	<strong style="font-size: 12px;">--By Sushila Budhathoki</strong></div>
<div>
	&nbsp;</div>
<div>
	The selection of Incentive Tours and Travels Pvt. Ltd, a Kathmandu-based travel agency, as General Sales Agent (GSA) of Air Asia X - the premiere Malaysia budget carrier - is not a co-incidence with the announcement of Visit Malaysia Year 2014, but a result of five years of hard work to achieve such an assignment.&nbsp;</div>
<div>
	&nbsp;</div>
<div>
	The company turned GSA of Air Asia X last year but the excitement of winning the title persists. It was obvious for Incentive Tours and Travel, also known as Incentive Group of Companies, that this wouldbecome a major turning point in their business. Nutan Bajracharya, General Manager of the group says, &ldquo;It happened because of the diligence and hard work of our Chairman Hariman Lama whostarted his career as a messenger in a travel agency..&rdquo; Lama symbolizes the brand image the company is to going to form.&nbsp;</div>
<div>
	Having started off as Incentives Tours and Travels in 1999, the group now acquires two other companies namely Sansui Cargo and Incentive Holidays. With five flights a week to Malaysia, the group acquires 25 percent of market shares in flights to and from Malaysia, according to the company&rsquo;s spokesperson. Within a short span of time, the company has served over 10 thousand tourists from all over the world, mainly theUS, Japan, Europe and South East Asian countries. The company now has anannual turnover of two billion&nbsp;</div>
<div>
	&nbsp;</div>
<div>
	<strong>Targeting the middle class&nbsp;</strong></div>
<div>
	&nbsp;</div>
<div>
	Before the introduction of direct flights and economy tourism packages, only upper class customers were considered to be the target market for international tourism in Nepal. According to the company, it is the sole enterprise that flies people at an affordable fare and targets mostly middle class consumers.. The company has now expanded its services to China, Thailand, Vietnam, Cambodia, India, Bhutan and Tibet. &ldquo;We are now focusing on out-bound tourism because a high number of Nepalis are going abroad daily for jobs, travel or to study,&rdquo; says Bajracharya.&nbsp;</div>
<div>
	&nbsp;</div>
<div>
	Recently, the company has come up with a travel package to Malaysia targeting the middle class in Nepal. &ldquo;We have a four-night-five-day tour package for Malaysia at the price of Rs 49,499and, so far we have received very good bookings,&rdquo; he shares.&nbsp;</div>
<div>
	&nbsp;</div>
<div>
	International ticketing and tour packages as well as cargo all around the world are Incentive&rsquo;s services at the offing. Says Bajracharya: &ldquo;We have trekking and mountaineering as well, in addition to our packages forout-bound tourism.&rdquo; According to him, Air Asia X is gaining popularity among people flying togulf countries and some 200-250 people choose to fly with it every month. The company has a target of increasing this number to 500 passengers per month. Among those who come to Incentive Holidays, Singapore and Malaysia are the most visited destinations.&nbsp;</div>
<div>
	&nbsp;</div>
<div>
	The services of the company include hotel reservations, domestic flights, MICE (Meeting, Incentives, Conferencing and Exhibition), international flights, helicopter charters, special tailored tours and out-bound tours. Bungee jumping, paragliding, mountain flights, jungle safari, tours, sightseeing and white water river rafting are other activities the company has been in the business of. Prior to Incentive Holidays, Incentive Tours and Travels used to handle these businesses.&nbsp;</div>
<div>
	&nbsp;</div>
<div>
	Nutan sees three or four companies as his competitors. He says they have packages for outbound tourists as well butwhen it comes totour packages in Malaysia, competition seems to have been eliminated due to Incentive&rsquo;s alliance with Air Asia.&nbsp;</div>
<div>
	&nbsp;</div>
<div>
	<strong>Human Resource Management&nbsp;</strong></div>
<div>
	&nbsp;</div>
<div>
	Nutan shares that his company follows staff rules and regulations for pay and perks. &ldquo;We hire experts and seek their recommendation to manage our human resource,&rdquo; he says, adding that this system becomes instrumental in keeping the company fine tuned. &ldquo;Even when staff are at leave or in holiday, the company&rsquo;s schedule is not affected since their tasks are handled systematically.&rdquo; Including five Deputy General Managers and board directors, the company currently employs 50 people, among who 17 are women.&nbsp;</div>
<div>
	&nbsp;</div>
<div>
	The company has fixed working hours and holidays for the staff, which according to Nutan are mostly disciplined and rule abiding. In a bid to acknowledge the work of his staff and to further motivate them, the company confers the&lsquo;Staff of the year&rsquo; award annually to those who have worked well and served the company for over five years. . To keep the staff up to mark with international standards, the company often sends them abroad for training and also invites experts from outside to train them.&nbsp;</div>
<div>
	&nbsp;</div>
<div>
	<strong>Challenges and opportunities&nbsp;</strong></div>
<div>
	&nbsp;</div>
<div>
	Since there is a huge opportunity and scope in the tourism sector, it seems that the private companies have not been able to exploit it. Bajracharya is upbeat about the prospect of tourism in Nepal. &ldquo;Although Nepal is a country of amazing extremes including the greatest mountain range and anincredible variety of ecosystems, we have not been able to draw a large number of tourists,&rdquo; he says. &ldquo;Our company strives towards tapping this huge potential by bringing adventurous and luxury travelers from around the world.&rdquo;&nbsp;</div>
<div>
	&nbsp;</div>
<div>
	Like many industries in Nepal, the unpredictable but recurring strikes are having an adverse impact in their business too. Bajracharya says that it not only incurs a huge loss to the economy but also paints a negative image of the country in the international arena. However, he is optimistic about the future of the tourism.. He underlines the need for massive tourism to make it a foremost industry.&nbsp;</div>
<div>
	&nbsp;</div>
<div>
	Hosting the tourist, which was once considered a part of the culture in Nepal, is now growing to be a lucrative business. In his experience, the understanding of tourism benefits among local people has increased. &ldquo;Peoplein remote areas these days are using western-style toilets because they now understand the value of tourism,&rdquo; he observes.&nbsp;</div>
<div>
	&nbsp;</div>
<div>
	Hariman, however, laments the apathy and indifference shown by the government towards the tourism industry. He says, &ldquo;The government is not serious in exploring new tourist destinations. It is least bothered to promote already discovered tourist destinations and trekking trails. For example there isn&rsquo;t a single comprehensive information booklet published by the government consisting of information on tourist destinations in Nepal.&rdquo;&nbsp;</div>
<div>
	&nbsp;</div>
<div>
	<strong>Future Strategy&nbsp;</strong></div>
<div>
	&nbsp;</div>
<div>
	The group aims to become an international travels and tours operator in the near future. The exploration of new international destinations is their immediate plan, targeting the outbound tourists. &ldquo;We are exploring new destinations all around the world catering with services at competitively lower prices,&rdquo; Bajracharyainforms.&nbsp;</div>
<div>
	&nbsp;</div>
<div>
	Speaking about the travel patterns in general, Bajracharaya observes that people usually go for pre-made packages and are relatively clueless about future travel plans.. &ldquo;The ignorance of new destinations is the reason behind this,and this is why we are inviting travelers with new packages as planned by our company,&rdquo; he concludes.</div>
<div>
	&nbsp;</div>
<div>
	<img alt="AirAsia " src="/userfiles/images/airasia1.jpg" style="width: 600px; height: 331px; margin: 5px;" /></div>
<div>
	&nbsp;</div>
<table border="0" cellpadding="10" width="99%">
	<tbody>
		<tr>
			<td bgcolor="#FFFFFF">
				<div>
					<span style="font-size:16px;"><strong>AT A GLANCE</strong></span></div>
				<div>
					&nbsp;</div>
				<div>
					<div>
						<span style="font-size:16px;">Incentives Group of Companies&nbsp;</span></div>
					<div>
						&nbsp;</div>
					<div>
						<strong>Incentives Tours and Travels&nbsp;</strong></div>
					<div>
						&nbsp;</div>
					<div>
						Founded in 1999, the company offers travel and tour packages as well as other services like ticketing, hotel reservation, paragliding andjungle safari.&nbsp;</div>
					<div>
						&nbsp;</div>
					<div>
						<strong>Sansui Cargo&nbsp;</strong></div>
					<div>
						&nbsp;</div>
					<div>
						Founded in 2012, the company provides cargo services all over the world.&nbsp;</div>
					<div>
						&nbsp;</div>
					<div>
						<strong>Incentive Holidays&nbsp;</strong></div>
					<div>
						&nbsp;</div>
					<div>
						Founded in 2012, the company is the GSA of Air Asia X for Nepal and offers special tour packages for Malaysia, China, Vietnam, Cambodia and Thailand.&nbsp;</div>
					<div>
						&nbsp;</div>
					<div>
						<strong>Strengths</strong></div>
					<ul>
						<li>
							Discipline and good working culture&nbsp;</li>
					</ul>
					<div>
						&nbsp;</div>
					<div>
						<strong>Threats </strong></div>
					<ul>
						<li>
							<span style="font-size: 12px;">Political instability&nbsp;</span></li>
						<li>
							Success mantras&nbsp;</li>
						<li>
							Continuity with honesty&nbsp;</li>
						<li>
							Cost efficiency&nbsp;</li>
						<li>
							Good service&nbsp;</li>
					</ul>
					<div>
						&nbsp;</div>
					<div>
						<strong>CSR Activities</strong></div>
					<div>
						&nbsp;</div>
					<div>
						So far the company has been helping flood victims and local clubs as a part of their corporate social responsibility. However, this company is keenly looking to do something more in the travel and tourism sector. Bajracharya says that they are planning to renovate temples, footpaths and other sites of cultural heritage.&nbsp;</div>
					<div>
						&nbsp;</div>
					<div>
						<strong>Individual brand matters&nbsp;</strong></div>
					<div>
						&nbsp;</div>
					<div>
						Asthe chairperson of the group, Lama, has been associated with the travel businessfor approximately 30 years. The prospects he saw in the tourism sector encouraged and led him to establish his own company. Now, his struggle and diligencehas paid him off,making him the owner of the company from his humbles beginnings as messenger for a previous work place.&nbsp;</div>
					<div>
						&nbsp;</div>
					<div>
						In 2000, he got another opportunity to gain an international recognition. His participation at the Global Youth Meet, where youths from around 58 countries were present, gave him an opportunity to project himself as a promising businessman in the tourism business.&nbsp;</div>
					<div>
						&nbsp;</div>
					<div>
						<strong>Networking and Affiliation&nbsp;</strong></div>
					<div>
						&nbsp;</div>
					<div>
						Incentive Tours and Travels is a member of Nepal Association of Travel Agents (NATA). It is also affiliated with Nepal Tourism Board (NTB), International Air Transport Association (IATA), Pacific Air Travel Association (PATA), Trekking Agencies&rsquo; Association of Nepal (TAAN), and various other associations. Nutan informs that his company has links with around 150 hotels in Nepal to use this facility for in-bound tourists.</div>
				</div>
			</td>
		</tr>
	</tbody>
</table>
<p>
	&nbsp;</p>',
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			'description' => 'The selection of Incentive Tours and Travels Pvt. Ltd, a Kathmandu-based travel agency, as General Sales Agent (GSA) of Air Asia X - the premiere Malaysia budget carrier - is not a co-incidence with the announcement of Visit Malaysia Year 2014, but a result of five years of hard work to achieve such an assignment.',
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			'id' => '1450',
			'article_category_id' => '160',
			'title' => 'Corptoon Issue 23',
			'sub_title' => '',
			'summary' => null,
			'content' => '<p>
	<img alt="" src="/userfiles/images/Corptoon%2023.jpg" style="width: 600px; height: 857px;" /></p>',
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			'description' => 'Corptoon',
			'sortorder' => '1311',
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		'Article' => array(
			'id' => '1449',
			'article_category_id' => '91',
			'title' => 'Microfinance And Agro Friendly Monetary Policy',
			'sub_title' => '',
			'summary' => null,
			'content' => '<div>
	<strong><span style="font-size: 12px;">--BY Siromani Dhungana</span></strong></div>
<div>
	&nbsp;</div>
<div>
	<span style="font-size: 12px;">Nepal Rastra Bank (NRB) has brought out a monetary policy that is specially friendly to strengthening micro-finance and agriculture sectors.</span></div>
<div>
	&nbsp;</div>
<div>
	In the policy announced on Sunday, NRB has cut the Cash Reserve Ratio (CRR) by one percent. With the introduction of new monetary policy, the category &lsquo;A&rsquo; financial institution has to maintain CRR at 5 per cent, while category &lsquo;B&rsquo; and category &lsquo;C&rsquo; institutions have to maintain it at 4.5 per cent and 4 per cent, respectively.</div>
<div>
	&nbsp;</div>
<div>
	Likewise, the policy has fixed the Statutory Liquidity Ratio (SLR) of 12 percent, 9 percent and 8 percent for category A, B and C financial institutions, respectively which is one per cent decrease compared to the previous provision.&nbsp;</div>
<div>
	&nbsp;</div>
<div>
	The central bank has also reduced the refinancing rate for agriculture, hydro-power and others productive sectors to 5 per cent from earlier 6 percent.&nbsp;</div>
<div>
	&nbsp;</div>
<div>
	The central bank failed to address demands put forth by the Nepal Bankers&rsquo; Association (NBA). It has provisioned that the commercial bank has to have a total of 20 percent of outstanding loans in &lsquo;productive&rsquo; sector including at least 12 percent in agriculture and energy sector by end the of May 15, 2015. The association has demanded to relax the provision saying the compulsory provision can create unnecessary pressure to the banks.&nbsp;</div>
<div>
	&nbsp;</div>
<div>
	Similarly, bankers&rsquo; association had also asked the central bank to relax the provision of Credit-Deposit Ratio (CDR) and increase its limitation to 85 percent. But the central bank did not change the provision of CDR from 80 percent.&nbsp;</div>
<div>
	&nbsp;</div>
<div>
	Similarly, Nepal Rastra Bank did not bring any provision to relax real estate lending.&nbsp;</div>
<div>
	&nbsp;</div>
<div>
	NRB says the new monetary policy will help to attain 5.5 per cent economic growth rate as targeted by the government budget for FY 2013-14 and restrict the inflation to 8 per cent in the fiscal year.</div>
<div>
	&nbsp;</div>',
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			'description' => 'Nepal Rastra Bank (NRB) has brought out a monetary policy that is specially friendly to strengthening micro-finance and agriculture sectors.',
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		'Article' => array(
			'id' => '1447',
			'article_category_id' => '34',
			'title' => 'Live Streaming Of Nubiz B-Schools Awards Event',
			'sub_title' => '',
			'summary' => null,
			'content' => '<h2>
	<a href="http://www.abhiyan.com.np/galleries-45">Photo Gallery Of Nubiz B-Schools Awards Event </a><br />
	<br />
	<a href="http://www.abhiyan.com.np/galleries-45"><img alt="B School" src="/userfiles/images/bschool.jpg" style="margin: 10px; width: 200px; height: 120px;" /></a><br />
	<br />
	<iframe frameborder="0" height="340" scrolling="no" src="http://cdn.livestream.com/embed/khumbaya?layout=4&amp;clip=pla_7cf3d9ed-b5a1-4811-acc3-5fded5d4560f&amp;height=340&amp;width=560&amp;autoplay=false" style="border:0;outline:0" width="560"></iframe></h2>
<div style="font-size: 11px;padding-top:10px;text-align:center;width:560px">
	Watch <a href="http://www.livestream.com/?utm_source=lsplayer&amp;utm_medium=embed&amp;utm_campaign=footerlinks" title="live streaming video">live streaming video</a> from <a href="http://www.livestream.com/khumbaya?utm_source=lsplayer&amp;utm_medium=embed&amp;utm_campaign=footerlinks" title="Watch khumbaya at livestream.com">khumbaya</a> at livestream.com</div>
<p>
	&nbsp;</p>
<h2>
	<a href="http://www.livestream.com/khumbaya/folder">Click Here to see all the remaining videos of the event </a></h2>',
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			'created' => '2013-07-19',
			'modified' => '2013-08-12',
			'keywords' => 'Live Streaming of Nubiz B-Schools Awards Event',
			'description' => 'Live Streaming of Nubiz B-Schools Awards Event',
			'sortorder' => '1309',
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	(int) 12 => array(
		'Article' => array(
			'id' => '1446',
			'article_category_id' => '40',
			'title' => 'Towards Inclusive Growth',
			'sub_title' => '',
			'summary' => null,
			'content' => '<div>
	&nbsp;</div>
<div>
	&nbsp;</div>
<div>
	<span style="font-size: 12px;">It was India&rsquo;s Montek Ahluwalia who coined the phrase &lsquo;inclusive growth&rdquo; in the 1970s with the World Bank (WB) Report &ldquo;Redistribution with Growth&rdquo;; and later it was reckoned that $ 1 per day (currently $ 1.25 per day) as being the line of absolute poverty which had to be traversed to be pro-poor and &lsquo;inclusive&rsquo;.&nbsp;</span></div>
<div>
	&nbsp;</div>
<div>
	Whereas Marx wanted &ldquo;forced redistribution&rdquo; of assets of the feudal and bourgeois classes for inclusion, Ahluwalia wanted redistribution through legal, monetary and fiscal interventions. The problem with both was that, as socialists, the concept lacked faith in the middle class as the true vanguards of democracy-- and the private sector as the true engineers of efficient and rapid economic growth and employment creation.</div>
<div>
	&nbsp;</div>
<div>
	And so this $ 1 a day &lsquo;absolute poverty&rsquo; thesis of Montek Ahluwalia gave birth to the Human Development thesis of Pakistan&rsquo;s Mahbul Haq, which basically sought &lsquo;inclusion&rsquo; by creating equality of opportunities for all those excluded, especially women and the girl child.&nbsp;</div>
<div>
	&nbsp;</div>
<div>
	Haq pioneered the human capital revolution which got us to think of creativity and productivity as the true source of prosperity and human welfare and not the usual underscoring of the importance of natural, physical or financial capital. He got us to think of people as more than just labour. And he made them the centerpiece of development.</div>
<div>
	<img alt="" src="/userfiles/images/cs1.jpg" style="float: left; margin: 0px 10px 0px 0px; width: 220px; height: 328px;" /></div>
<div>
	The Human Development Index is his lasting legacy. Haq learnt from the experience of Pakistan in the 1960s that one could have 7% GDP growth and also suffer acute inequalities and inequities to exclude the poor from the fruits of growth&mdash;and worse, exclude 50% of the population of women who needed to be empowered by the State. He also re-introduced the concept of &lsquo;human security&rsquo; which was the foundation on which the Japanese economic miracle of the 1950s-70s occurred with little or no natural resources.&nbsp;</div>
<div>
	&nbsp;</div>
<div>
	&lsquo;Growth&rsquo; and &lsquo;development&rsquo; are related but different concepts. Growth theories apply to developed nations whereas development theories apply to underdeveloped nations mired in hunger, malnutrition, illiteracy, ill health, superstition, deprivation, exploitation and underemployment of human resources.</div>
<div>
	&nbsp;</div>
<div>
	Inclusive Growth also refers to the need for a &lsquo;balanced growth&rsquo; between (a) agriculture and manufacturing and (b) urban and rural areas of a nation. Thus inter &ndash;industry analysis and input-output models were developed and regional economics became a separate discipline to deal with geographic inequalities in growth. (As early as the 1970s Centre for Economic Development and Administration (CEDA) under Tribhuvan University, intellectually led by the likes of Dr Harka B Gurung and Dr Ratna SJB Rana were doing such seminal work for Nepal for regional balance by examining possible growth centres and corridors, which was waylaid by foreign aid that opted for extraneous models of development. This eventually sowed the seeds of conflict in Nepal with its over-emphasis on the role of the central bureaucracy and a Kathmandu-centric model of development. I am referring to the failed Integrated Development Projects (IRDPs) of the World Bank and the several bilateral donors working in isolation of each other to practically make the central bureaucracy their own dysfunctional and corrupt fiefdoms. It failed because it was costly and opted for decentralization rather than devolution with bottom up local leadership development with people&rsquo;s participation).</div>
<div>
	&nbsp;</div>
<div>
	In the 1980s, a new growth and development paradigm was born-- &lsquo;sustainable growth&rsquo;. It was felt that the cost to the natural environment was not being factored in by the GDP approach as the very success of growth resulted in externalities such as environment degradation, pollution of air, soil, water&mdash;one may say, development&rsquo;s impact was toxic. For most of the time, growth theory was driven by concern for its pace and pattern of growth. Then comes concern for its impact on Nature. And thus was added a new dimension to &lsquo;inclusion&rsquo; theory.&nbsp;</div>
<div>
	<img alt="" src="/userfiles/images/cs2.jpg" style="float: right; margin: 0px 0px 0px 10px; width: 352px; height: 175px;" /></div>
<div>
	In the 1990&rsquo;s, led by Nepal&rsquo;s Gandhian statesman PM Krishna Prasad Bhattarai, a new concept was bestowed to the development paradigm. &lsquo;Pro-poor growth&rsquo; was the term coined by the SAARC Independent Commissioners in 1992 (see the SAARC Secretariat Report: &ldquo;Meeing the Challenge) as it began to grapple with growth models that tended to &lsquo;walk on one foot&rsquo;, as it were. Thus it emphasized Structural and Extended Structural Adjustment Programmes (SAP and ESAP) passionately underwritten by the International Monetary Fund (IMF) and the World Bank in tandem to usher economic and financial reforms since the 1980s.&nbsp;</div>
<div>
	&nbsp;</div>
<div>
	The SAP and E-SAP model of growth and development ignored the contribution that the poor, especially women, could make to growth by treating them as objects of development and not the subjects. Hence the call for &lsquo;pro-poor growth&rsquo; with Organizations of the Poor to be engaged in self help, self development and self management by designing locally based growth and development models unique to its social, cultural and ecological environments. For this to happen, it called for Social Mobilization of the Poor by the State so that they can participate in development and democracy through the mechanism of the Market. It believed that South Asia could have 9% GDP growth with 3% being contributed by the poor themselves, if it followed a strategy of walking on two legs &ndash; (a) priority to agriculture (b) development of labour intensive SMEs in manufacturing (c) human development and human security (d) social mobilization of the poor to create Organizations of the Poor to pursue their own models of growth and at their own pace as also to countervail the power of the ruling and rural elites. Its lasting contribution is the inclusion of &lsquo;social capital&rsquo; as a viable and relevant development model where the local culture should be included, and seen as an enduring asset, along with the traditional local institutions in the form of Community-based Organisations (CBOs) and TVOs. (Alas, the NGOs, sadly, were trying to make them irrelevant being driven by extraneous social and political forces under the banner of universal human rights )&nbsp;</div>
<div>
	<img alt="" src="/userfiles/images/cs3.jpg" style="width: 525px; height: 175px; margin: 10px 25px;" /></div>
<div>
	&nbsp;</div>
<div>
	<strong>Development through Devolution (The Alternative Model for 2015-20)&nbsp;</strong></div>
<div>
	&nbsp;</div>
<div>
	It is unlikely that a top-down driven development paradigm comprising national planning, state enterprises, labour unions &hellip; will allow inclusion of all. This can only happen when opportunities are created for all by supporting markets garnished by agrarian, economic, financial, administrative and labour reforms. Not least maximizing a bottom up development paradigm with maximum scope for local leadership development and culture-specific innovations to achieve MDGs goals and targets by the locals themselves in tune with their own capacity to deliver. This requires that the national think tanks adopt more than Chamber&rsquo;s Participatory Research Approach (PRA) for Participatory Action Research (PAR) as underlined by the SAARC Independent Commission on Poverty Alleviation of 1992.&nbsp;</div>
<div>
	&nbsp;</div>
<div>
	Inclusive Growth must mean growth with productive employment by creating opportunities for jobs and by investing in one&rsquo;s human capital development of own self and family members for the jobs --in the context of globalization The primary focus of inclusive growth must be on quality of human capital and so needs inclusion of Private Sector as the engine of growth since they create jobs for employees and opportunities for the self-employed.&nbsp;</div>
<div>
	&nbsp;</div>
<div>
	Planning must be macro, meso and micro, all harmonized strategically. The Macro Plan must project the desired structure of the economy for the next 25 years and the five year plan must be a human resource development plan that addresses the human capital requirements for the perspective economy of the future (say 2035) based on manpower supply and demand projections and plans judiciously integrated with the educational plan that opens avenues for vocational, apprenticeship, technical and technological for the variety of occupations in the national economy and in the global labour markets.&nbsp;</div>
<div>
	&nbsp;</div>
<div>
	In other words, the State will have 5 Five Year Rolling Macro Plans that will be supplemented by Meso Plans to strategically manage education, health, gender, children, youth, old age, disabled, castes and creeds, urbanization, water, energy, ICT, transportation, investment, saving, capital markets, credit flows, exports, imports, taxation, and also corporate governance, entrepreneurship development, R &amp;D; S&amp;T, and monopoly regulation, for example, depending on the number of Ministries to be created. The fewer the Ministries the better. Let us emphasize that these ministries must move towards being a &lsquo;managerial civil service&rsquo; (as happened in East Asia to turn their economies into Tigers) and not continue to function as the colonial &lsquo;administrative civil service&rsquo; mired in red tape and acutely devoid of horizontal communication and coordination.&nbsp;</div>
<div>
	&nbsp;</div>
<div>
	Competition is the name of the game and with it goes merit &ndash;not reservations. Hence private sector must seek to gather the &lsquo;fortune at the bottom of the pyramid&rsquo; as part of their core business strategies. And SMEs and Micro Enterprises and Social Entrepreneurs are vital actors in the formulation and execution of the national and sector plans, as well as the creation of urban clusters and supply chains.&nbsp;</div>
<div>
	&nbsp;</div>
<div>
	Inclusive growth requires that we take in a host of factors and forces like geography, demography, social factors and forces, governance etc and hence has to be participative to require decisions at all levels and all actors &ndash;not just the state guided by the NPC with its very weak basic and applied research capacities coupled with rapid turnover of planners with the political changes. Such NPCs are a waste of national resources and should be converted to an Advisory Economic Council with the Prime Minister Office (PMO), if they are genuinely needed. What is now needed is Integrated Sector Programming and National Performance Budgets governed by a Fiscal Management and Responsibility Act as exists, for example, in South Korea and India.&nbsp;</div>
<div>
	&nbsp;</div>
<div>
	Inclusive Growth is growth that benefits each and every segment of a society with no exclusions whatever. This means when women&rsquo;s work at home they be paid for and their contribution to the GDP be duly recognized and rewarded.&nbsp;</div>
<div>
	&nbsp;</div>
<div>
	Nepal&rsquo;s development plan has to be framed in the perspective of the opportunities from India, China and Bangladesh in due cognizance of our economic structure and development constraints. It requires our policy planners and private sector to be proactively engaged in national and sector dialogues with each other: to set down targets and outcomes for coordinated policy and designing of sector and multi sector programmes aligned with the annual performance budgets. We have to assess feasible economic growth targets for each 5 yr periods first and foremost in consensus with the political parties&mdash;and not be driven by external agents and fanciful notions of the political leadership who are very, very weak in their understanding of economics and finance.&nbsp;</div>
<div>
	&nbsp;</div>
<div>
	We have to set achievable GDP and sector targets and act accordingly to secure them jointly with the local governments, NGOs and private sector Each target must be supported by country-wide action plan and programme. For example (a) eradication of illiteracy (b) raising GDP by 5.5% (c) agri growth at 4.0% (d) inflation down to 7.5% (e) industrial growth by 10% -- devolved to districts with their own targets set locally (f) lower capital output ratio through more efficient planning, choice of foreign aid and eradication of graft and corruption; ICT for better governance (g) gender budget for gender inclusion to name a few development agenda topics.&nbsp;</div>
<div>
	&nbsp;</div>
<div>
	Immense macro economic benefits have accrued from remittances which is now 25% of GDP. It has helped reduce poverty from 42% (1996) to 24% (2012). It has prevented Nepal from economic collapse and stabilized economic growth at the midterm growth rate of around 3.5- 4% between 2005-13.&nbsp;</div>
<div>
	&nbsp;</div>
<div>
	Yes, costs have been borne at the household and individual levels with the pain and suffering of international migration and debts incurred for it. However, one can take advantage from the challenges by planning the remittance economy better so as to empower women head of household and the girl child with the skills to fill in the job vacancies as happened during WWI ad WW II that liberated women once in for all in the West.&nbsp;</div>
<div>
	&nbsp;</div>
<div>
	<img alt="" src="/userfiles/images/cs4.jpg" style="width: 525px; height: 175px;" /></div>
<div>
	&nbsp;</div>
<div>
	<strong>Conclusions&nbsp;</strong></div>
<div>
	&nbsp;</div>
<div>
	South Asian concept of Inclusiveness is this: all growth and development models must be ingrained in our civilizational heritage&mdash;not that of the Greeks, Romans or Christians or Marx and Mao. Inclusiveness should be based on one&rsquo;s culture adapted for internally to achieve modernity and based on pragmatism for the greatest public good. It seeks to be grounded not on a Capitalist or Socialist Society with all its ideological baggage but on a Humane Society where Planet Earth is a Global Village embodied and enriched by pluralistic cultures and cosmopolitan individuals with multiple identities with equal value, as was bestowed upon us by the eternal wisdom of Swami Vivekanada.&nbsp;</div>
<div>
	&nbsp;</div>
<div>
	Inclusive Growth and Development are super structure means to an end that needs to be holistically entrenched with sound social, economic, ecological and political structures that are themselves inclusive. Let us summarize the parameters and their variables here below:&nbsp;</div>
<div>
	&nbsp;</div>
<div>
	(A) Inclusive Society: formalization of CBOs, organization of the poor, social mobilization, preservation and promotion of multiple identity; maximum role for the social organizations; protects and promotes the joint family system rather than the state acting as nanny and nurse and creates a Commonwealth of Plural Societies with various civil society organizations &ndash;and their national federations-- to represent professional, business, religious, gender and cultural interests;&nbsp;</div>
<div>
	&nbsp;</div>
<div>
	(B) Inclusive Economy: access to credit for all; entrepreneurship development; traditional skill development; community ownership of resources; markets that respect consumer and ecological sovereignties;&nbsp;</div>
<div>
	&nbsp;</div>
<div>
	(C) Inclusive Environment: harmonious nature-people relationships in the context of global warming and climate change , and</div>
<div>
	&nbsp;</div>
<div>
	(D) Inclusive Polity: direct democracy; inclusive institutions &ndash;education, health, access to justice; rule of law; community leadership; empowerment of gram panchayats; modernity through local leadership and local culture ; proportional representation of communities and gender in all political parties for inclusive governance and political leadership and political space to duly elected civil society federations to be represented rotationally in the Upper House of Parliament so that short run political interests are countervailed by long-run non political civil society interests.&nbsp;</div>
<div>
	&nbsp;</div>
<div>
	Finally, given all the above parameters and their variables for inclusion there is really no need for an ethnic-based Inclusive State to render justice to all and the next generations. Yes, we need an Inclusive Constitution to not exclude any. Primarily, to ensure the supremacy of the Constitution and the rule of law by having independent institutions to check the abuse of power by the political authority and guarantee accountability, transparency, competition and merit in the body politic for the larger public good.&nbsp;</div>
<div>
	&nbsp;</div>
<div>
	I submit, we do not even need a federal state. Much wiser to devolve responsibility to the 4440 VDC and 75 Districts and Municipalities for dynamic and harmonious Inclusive Growth and Development of an independent and sovereign Nepal with its territorial integrity intact.&nbsp;</div>
<div>
	&nbsp;</div>
<div>
	<em><span style="font-size:11px;">(Rana is Professor South Asian Institute of Management (SAIM) and Former Finance Minister.)</span></em></div>
<div>
	&nbsp;</div>
<div>
	<img alt="" src="/userfiles/images/cs5.jpg" style="width: 525px; height: 175px; margin: 5px 25px;" /></div>
<div>
	&nbsp;</div>',
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			'description' => 'It is a la mode, these days, to speak of ‘inclusive growth’ and ‘inclusive development’. In Nepal’s case, the Maoists have extended it to ‘inclusive State’: and with it the constitutional and political contours of new Nepal are yet unclear—and remain extremely contentions.',
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	(int) 13 => array(
		'Article' => array(
			'id' => '1445',
			'article_category_id' => '34',
			'title' => 'Thai - Fam Trip',
			'sub_title' => '',
			'summary' => null,
			'content' => '<p>
	Thai Airways International Public Company Limited organised the fam trip to honour the top 7 travel agencies in Nepal, on 7 July. The organised trip was for 6 days which included the exploration of &ldquo;The Sanctuary of Truth, Damnern Saduak &amp; Rose Garden, and Dinner Cruise on &ldquo;Loy Nava&rdquo;; the important destinations of Pattaya and Bangkok in Thailand. In addition to this, Amari Orchid Pattaya and Novotel Bangkok Ploenchit Bangkok organised hotel inspection.<br />
	<br />
	<br />
	<br />
	&nbsp;</p>',
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			'created' => '2013-07-19',
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			'description' => 'Thai Airways International Public Company Limited organised the fam trip to honour the top 7 travel agencies in Nepal, on 7 July. The organised trip was for 6 days which included the exploration of “The Sanctuary of Truth, Damnern Saduak & Rose Garden, and Dinner Cruise on “Loy Nava”;',
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			'id' => '1444',
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			'title' => 'Feedback July 2013',
			'sub_title' => '',
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			'content' => '<div>
	&nbsp;</div>
<h2>
	Merger and Acquisition</h2>
<p>
	<span style="font-size: 12px;">The number of banks and financial institutions (BFI) Nepal has, is by no means small for the size of the economy and geography. The central bank&rsquo;s initiative to lower the number of BFIs through mergers is a a quite welcoming attempt. Mergers and acquisitions, if well executed will result into a more effective, efficient and a stronger company.&nbsp;</span></p>
<p>
	At the moment, merger is not a challenge for the financial market but the number of BFIs in the given size of geography and economy definitely is. Large number of BFIs would mean more amounts of capital accumulated in smaller chunks as fixed assets and capital of the banks that could have been invested in other productive areas. So far, we have not seen banks investing in large projects and making long term investments. This would be possible when banks with strong capital base emerge. It is highly unlikely to happen when capital is spread across more than 30 commercial banks. It is always better to have 10 large banks than having 30 small incapable ones. At the moment, number of problematic BFIs is also increasing. Merger and acquisition should ensure merger of two or more companies into one to make a single strong and capable bank. However, so far, we have not seen merger of two commercial banks.&nbsp;</p>
<p>
	It is argued that if the number of commercial banks comes down, they will be involved in carteling. The central bank should keep an eye to prevent such irregularities. But, when two commercial banks merge, one of the foremost impacts is the large capital base. This makes possible to invest in large projects and create a ground for long term investment which is missing at the moment. The development so far in the merger and acquisition is encouraging but I think it should reach the next level soon.&nbsp;</p>
<p>
	<em>- Sambida Sharma, Balkumari</em></p>
<hr />
<p>
	<strong>Summer Market Trends&nbsp;</strong></p>
<p>
	As the writer argues in &lsquo;Summer Market 2013&rsquo; (Vol. 12 Issue 8 of New Business Age), growing urbanisation and popularity of nuclear families have played their part in giving certain products a boost in the market. However, I believe that these factors are not the only contributors. I think that purchasing power plays a more important role in determining consumption pattern. Fuelled by remittances, purchasing power has been on the rise in Nepal. This has driven up consumption.&nbsp;</p>
<p>
	<em>- Bhimsen Bharati, Kapan</em></p>
<hr />
<p>
	<strong>HELVETAS Partner in Sustainable Development&nbsp;</strong></p>
<p>
	I went through the Development- Partner story about HELVETAS in June 2013 issue. The story revolves around the positive work of the organisation. What it is doing for the benefits of the Nepali people is really encouraging. However, the article failed to provide details about more of its activities. I would have loved to know more about the projects of HELVETAS in detail. For example, about their target areas and people and the extent of the benefits it has created and also the negative impacts it may have caused. It would make the story a more interesting read if views of beneficiaries too were incorporated.&nbsp;</p>
<p>
	<em>- Sushil Chhetri, Budhanilkantha</em></p>
<hr />
<p>
	<strong>Bit of Entertainment Business&nbsp;</strong></p>
<p>
	I have been reading your magazine regularly and I appreciate your efforts to create a business-literate readership. It is good to see that your media is covering different issues related to business and economy. It would also be appreciable if you also could write about entertainment business. I think that would make the magazine more fascinating to read, and will attract young readers too.&nbsp;</p>
<p>
	<em>- Santosh Dhungana, Chabahil</em></p>
<hr />
<p>
	<strong>Century of Indian Cinema&nbsp;</strong></p>
<p>
	When the Indian cinema was celebrating its centenary, it had already collected non-Indian audience base from a number of countries. The Indian cinema or the movie industry popularly known as Bollywood is one of the largest entertainment industries in terms of number of movies produced every year. Though it may have surpassed Hollywood&rsquo;s annual production, it is yet to equalise in terms of revenues collected. From the South Asian perspective, small entertainment industries like that of Nepal could learn a lot from the burgeoning industry next door. But, most of the countries in South Asia have put a ban on Indian cinemas for a long time. Even Nepal had made numerous attempts in the past to ban Hindi cinema. But in absence of quality cinemas produced locally and the access to foreign movies through the satellite televisions, Internet and pirated cheap DVDs, the attempt always remained a failed one as the viewers were never ready for the ban to be imposed. Similar was the situation in other neighbouring countries. There is a huge lack of creativity in the local cinema industry, and instead of getting inspired from the neighbouring industry- the Nepali Film industry has been limited to copying Bollywood, that too badly. There is a lot to learn from a century long experience of Indian cinema and adopt the technology and techniques of storytelling they use rather than merely copying some scenes and dialogues. The neighbouring countries can learn from Indian movie industry the techniques to find a space among global audience.&nbsp;</p>
<p>
	&nbsp;</p>
<p>
	-<em> Prabhat Dhakal, New Baneshwor, Kathmandu</em></p>
<div>
	<div>
		<hr />
		<span style="font-size:11px;"><em>Mail your feedback to P O Box 14197, Kathmandu or Email to <a href="mailto:editor@newbusinessage.com?subject=Re%3AFeedback%20July%202013">editor@newbusinessage.com</a></em></span></div>
	<div>
		<span style="font-size:11px;"><em>The mail will be edited for the purpose of clarity and brevity.</em></span>
		<hr />
	</div>
</div>
<div>
	&nbsp;</div>',
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			'description' => 'The number of banks and financial institutions (BFI) Nepal has, is by no means small for the size of the economy and geography. The central bank’s initiative to lower the number of BFIs through mergers is a a quite welcoming attempt. Mergers and acquisitions, if well executed will result into a more effective, efficient and a stronger company.',
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			'id' => '1459',
			'article_category_id' => '140',
			'title' => 'CPN-Maoist Accepts HLPC Invitation For Talk',
			'sub_title' => '',
			'summary' => null,
			'content' => '<div>
	<strong><span style="font-size: 12px;">--By TC Correspondent</span></strong></div>
<div>
	&nbsp;</div>
<div>
	The CPN-Maoist led alliance of 33 parties has agreed to sit for a dialogue with the High Level Political Mechanism. The decision of 33 dissident parties to agree for a dialogue with the HLPC has come following a formal invitation dispatched by the HLPC coordinator Pushpa Kamal Dahal on Wednesday. The CPN-Maoist leader Secretary Dev Gurung, who is also in a 5-member talk team formed by his party, informed that the dissident alliance has accepted the invitation of the HLPC to sit for negotiations &ldquo;free from any conditions&rdquo;.&nbsp;</div>
<div>
	&nbsp;</div>
<div>
	Meanwhile, the government has also sent an official letter to the CPN-Maoist Chairperson Mohan Baidya on Friday inviting his and other 32 dissenting parties for the talks.&nbsp;</div>
<div>
	&nbsp;</div>
<div>
	Welcoming the step of forming a five-member talks committee by the CPN-Maoist, the government in its letter has said, &ldquo;We have a firm belief that every problem can be resolved through dialogue and discussion. Hence, we would like to invite you and your allies for a dialogue.&rdquo;&nbsp;</div>
<div>
	&nbsp;</div>
<div>
	According to the letter, the time and venue for talks can be determined through mutual understanding.&nbsp;</div>
<div>
	&nbsp;</div>
<div>
	This is the second letter from the government to the poll-opposing parties asking them to sit for talks.&nbsp;</div>
<div>
	&nbsp;</div>
<div>
	The CPN-Maoist led alliance with 32 other parties is protesting against the government announcement to hold the election. The alliance has been demanding that the 11-point and the 25-point agreements reached to remove constitutional difficulties be scrapped. Likewise, the alliance has also pressing for holding the Round Table Conference to settle political and constitutional complications.</div>
<div>
	&nbsp;</div>',
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			'description' => 'The decision of 33 dissident parties to agree for a dialogue with the HLPC has come following a formal invitation dispatched by the HLPC coordinator Pushpa Kamal Dahal on Wednesday.',
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			'id' => '1458',
			'article_category_id' => '161',
			'title' => '‘We Make Sure That Projects Are Not Owned By Heifer But By People’',
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			'content' => '<div>
	<span style="font-size: 12px;"><img alt="Dr Shubh N Mahato,Country Director of Heifer International Nepal." src="/userfiles/images/Dr%20Shubh%20N%20Mahato.jpg" style="float: left; margin: 0px 10px 0px 0px;width: 150px; height: 182px;" /><span style="font-size:14px;"><em>Dr Shubh N Mahato</em> is the <em>Country Director</em> of <em>Heifer International Nepal</em>. Heifer has recently announced its strategic plans for the next ten years. The plans are in line with the organisation&rsquo;s area of work &ndash; agriculture, livestock, poverty reduction and livelihood enhancement of 500,000 households across 28 districts. In an interview with Gaurav Aryal of The Corporate, Mahato talked about long term programmes and their sustainability. <strong>Excerpts:</strong></span><strong>&nbsp;</strong></span></div>
<div>
	&nbsp;</div>
<div>
	<strong>How is Heifer International&rsquo;s new 10 years strategic plan different than that of the past?&nbsp;</strong></div>
<div>
	Earlier we used to make strategic plans for five years. Earlier, Heifer&rsquo;s staff were mobilised along with the participation of stakeholders. We used to have certain targets and strategies were formulated to achieve them. Then we used to design projects targeting up to 500 households. And, NGOs would take up sub projects to be implemented in their working areas.&nbsp;</div>
<div>
	&nbsp;</div>
<div>
	Now, we involve more on situation analysis of the country and identify the gaps in the sector where Heifer works and how Heifer can fill it. We also look at government priorities in the sector where Heifer works while doing situation analysis and find out areas where our strength lies and where we can contribute best to derive optimum benefits for people. Similarly, instead of projects, we will formulate programmes under which projects will cater to at least 1000 families. Rather than five years, now we are making 10 years strategic plan on the basis of nation&rsquo;s priorities, actual situation analysis and value chain studies.&nbsp;</div>
<div>
	&nbsp;</div>
<div>
	<strong>How do you plan to reduce the duplication of the projects under the new plan?&nbsp;</strong></div>
<div>
	It is not an easy task but we are also concerned about it. There are heavy investments made by different organisations in the projects of similar nature that generate few returns. Our sub-projects are implemented in the VDC level. In coordination with the concerned VDC, we try to find what other projects are being implemented there. We also ensure that the projects are not owned by Heifer or an NGO but by that VDC. But, for that, out of the total size of the project, 25 per cent must be contributed by the VDC. As VDC is handed over the responsibilities for project implementation, they will merge similar projects with similar targets by other organisations. As the projects are made in VDC&rsquo;s coordination and implemented and monitored by them, it would largely help to reduce duplication. We started this model from April, 2012 and will be continued also in the future projects.&nbsp;</div>
<div>
	&nbsp;</div>
<div>
	<strong>How do you ensure that the benefits of projects you implement continue even after the project comes to an end?&nbsp;</strong></div>
<div>
	When we design projects we make sure that projects are not owned by Heifer but they are people&rsquo;s project. Local people must take the ownership through the self help groups. If the members of the groups are not willing to help themselves, we do not work there. They must have commitments like compulsory monthly savings and utilising that in productive works. None of the projects of Heifer is longer than two to three years. In many cases I have found that the real impacts of the projects begin after that. Activities like compulsory savings are there to stay once it becomes people&rsquo;s culture. We encourage people to affiliate their groups to cooperatives and tie up with the banks so that it would help them to further expand their business. Such activities make a project sustainable. When the local bodies, VDC and stakeholders are the part of the project, usually the projects become sustainable.&nbsp;</div>
<div>
	&nbsp;</div>
<div>
	<strong>How does Heifer International ensure the transparency of mobilised funds?&nbsp;</strong></div>
<div>
	For this purpose, a project management and implementation committee is formed with representatives from beneficiaries and stakeholders, self help groups, VDC, donors, NGOs and Heifer. This committee has the records of the details of the funds coming for the particular project from a particular source. Monitoring and evaluation of the projects is done at the local level by this committee. This has helped to maintain transparency. Similarly, NGOs responsible for project implementation, must regularly report to us and the Heifer regularly carries out financial monitoring and auditing. If we find any irregularities, we have a zero tolerance policy towards such activities. Such measures have helped maintain high transparency and accountability of resource mobilisation.</div>
<div>
	&nbsp;</div>',
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			'description' => 'Dr Shubh N Mahato is the Country Director of Heifer International Nepal. Heifer has recently announced its strategic plans for the next ten years. The plans are in line with the organisation’s area of work – agriculture, livestock, poverty reduction and livelihood enhancement of 500,000 households across 28 districts. In an interview with Gaurav Aryal of The Corporate, Mahato talked about long term programmes and their sustainability.',
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			'id' => '1457',
			'article_category_id' => '139',
			'title' => 'Nepal And The World News In Brief (22-28 July 2013)',
			'sub_title' => '',
			'summary' => null,
			'content' => '<div>
	<strong><img alt="China Seen Surpassing US in Superpower Shift" src="/userfiles/images/china.jpg" style="float: left; margin: 0px 10px 0px 0px;width: 125px; height: 73px;" />China Seen Surpassing US in Superpower Shift&nbsp;</strong></div>
<div>
	A new Pew Research Center survey of 38,000 people in 39 countries found the widespread belief that China is well on its way. Overall, a majority or plurality of respondents in only six of the countries surveyed believe the U.S. will remain on top. In both the United States and China, an increasing number of respondents agree with this thesis. (Agency)&nbsp;</div>
<div>
	&nbsp;</div>
<div>
	<strong><img alt="Detroit Files for Bankruptcy" src="/userfiles/images/detroit.jpg" style="float: right; margin: 0px 0px 0px 10px;width: 125px; height: 83px;" />Detroit Files for Bankruptcy&nbsp;</strong></div>
<div>
	Detroit, known as the center of US auto industry filed for bankruptcy Thursday, becoming the nation&rsquo;s largest public sector bankruptcy. The move could slash pension benefits to city workers and retirees, and leave bond holders with only pennies on the dollar. The city faces total liabilities of about $18 billion. (Agency)&nbsp;</div>
<div>
	&nbsp;</div>
<div>
	<strong><img alt="Strauss-Kahn" src="/userfiles/images/Strauss-Kahn.jpg" style="float: left; margin: 0px 10px 0px 0px; width: 85px; height: 110px;" />Strauss-Kahn Joins Rosneft bank&nbsp;</strong></div>
<div>
	Two years after resigned as head of the International Monetary Fund (IMF), Dominique Strauss-Kahn has joined the supervisory board of the bank owned by Russia&rsquo;s largest oil company, Rosneft, the bank said last Monday.The 64-year-old Frenchman was appointed one of the 11 board members of the Russian Regional Development Bank, a subsidiary of the state oil company, a bank spokeswoman said. Strauss-Kahn resigned from the IMF in 2011 after a New York hotel maid accused him of rape. (The Hindu Business Line)&nbsp;</div>
<div>
	&nbsp;</div>
<div>
	<strong><img alt="Gold" src="/userfiles/images/Gold.jpg" style="float: right; margin: 0px 0px 0px 10px; width: 125px; height: 89px;" />Gold Up on 2nd Straight Week&nbsp;</strong></div>
<div>
	Gold rose on Friday to notch its second weekly gain after many investors were soothed by the Federal Reserve&rsquo;s assurance this week that it will be careful in tapering its economic stimulus. The spot price of bullion hovered near $1,295 an ounce and U.S. gold futures for August delivery settled at $1,292.90 an ounce.&nbsp;</div>
<div>
	&nbsp;</div>
<div>
	<strong><img alt="G20" src="/userfiles/images/G20.jpg" style="float: left; margin: 0px 10px 0px 0px; width: 125px; height: 83px;" />G20 Puts Growth Before Austerity&nbsp;</strong></div>
<div>
	The Group of 20 nations put growth ahead of austerity, seeking to rebalance a multi-speed global economy and pledging to shift policy carefully so recovery is not derailed by volatile financial markets. Finance ministers and central bank governors meeting in Moscow on Saturday put the finishing touches to a joint communique. (Agency)</div>
<div>
	&nbsp;</div>',
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			'description' => 'A new Pew Research Center survey of 38,000 people in 39 countries found the widespread belief that China is well on its way.',
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		'Article' => array(
			'id' => '1456',
			'article_category_id' => '138',
			'title' => 'Nepal Behind Afghanistan In FDI Inflow',
			'sub_title' => '',
			'summary' => null,
			'content' => '<div>
	<span style="font-size: 12px;">Nepal is trying to lure Foreign Direct Investment (FDI) in various sectors. The Foreign Direct Investment Policy Draft 2013 has suggested active economic diplomacy and transparency to attract more FDI in the country. It has prioritised hydropower, mines and minerals related industries, agriculture and herbs processing, infrastructure development and tourism for FDI. Fast track road, railway, tunnel way, cable car, metro, flyover and international airports have been identified under the infrastructure heading in the FDI Policy Draft. The draft has also fixed a minimum floor of US$ 200,000 for FDI, whereas in hydropower the project should be of at least 30MW to be allowed for FDI.&nbsp;</span></div>
<div>
	&nbsp;</div>
<div>
	However, the lengthening of political transition is taking a toll on FDI inflow in Nepal. According to a report by United Nations Conference on Trade and Development (UNCTAD), Nepal remains one of the worst performers in South Asia to attract FDI. Nepal saw a decline of FDI inflow by 2.85 per cent in 2012. UNCTAD&rsquo;s World Investment Report 2013 informed that Nepal attracted FDI worth US$ 92 million, against the 2011 figure of US$ 95 million. Nepal stood second from bottom in FDI inflow index in 2012 in the region, ahead only of Bhutan. Nepal&rsquo;s performance was poorer than even Afghanistan.&nbsp;</div>
<div>
	&nbsp;</div>
<div>
	The country&rsquo;s poor performance has put a big question mark on Nepal government&rsquo;s efforts. Attracting foreign investment is a strategic agenda for Nepal. The government has long reiterated and pledged policies aiming to lure FDI. However, political instability, inefficient bureaucracy, corruption, lack of infrastructure, restrictive labour regulation etc makes Nepal one of the least competitive economy in the world thereby unable to attract potential FDI. Despite the announcement of Nepal Investment Year 2012-13 and formation of Nepal Investment Board, the prospects of FDI inflow looks bleak in the foreseeable future.</div>
<div>
	&nbsp;</div>',
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			'description' => 'Nepal is trying to lure Foreign Direct Investment (FDI) in various sectors. The Foreign Direct Investment Policy Draft 2013 has suggested active economic diplomacy and transparency to attract more FDI in the country.',
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			'id' => '1455',
			'article_category_id' => '137',
			'title' => 'India Relaxes FDI Norms To Boost Slowing Growth',
			'sub_title' => '',
			'summary' => null,
			'content' => '<div>
	&nbsp;</div>
<div>
	India has relaxed foreign direct investment (FDI) rules across several industries, including telecoms, single brand retail and oil and gas, in a bid to lure capital inflows, prop up a sliding currency and accelerate growth. India&rsquo;s weakest economic growth in a decade and a record high current account deficit have made the rupee the worst-performing emerging Asian currency so far this year. The changes will have to be approved by India&rsquo;s cabinet before they become law, although that is seen as a formality. Here are the sectors in which FDI caps will be revised:&nbsp;</div>
<div>
	&nbsp;</div>
<div>
	<strong>Telecoms&nbsp;</strong></div>
<div>
	The FDI cap on the telecoms sector was raised to 100 percent from 74 percent. While a foreign company can buy up to a 49 percent stake in an Indian phone carrier without seeking approval from the Foreign Investment Promotion Board(FIPB), any investment beyond that will need the country&rsquo;s foreign investment regulator&rsquo;s nod.&nbsp;</div>
<div>
	&nbsp;</div>
<div>
	<strong>Petroleum and Natural Gas&nbsp;</strong></div>
<div>
	The FDI cap for the sector was left unchanged at 49 percent, but foreign investment up to 49 percent will no longer require FIPB approval.&nbsp;</div>
<div>
	&nbsp;</div>
<div>
	<strong>Insurance&nbsp;</strong></div>
<div>
	Foreign investment up to 49 percent in insurers will not require the government&rsquo;s approval. The foreign investment limit in the sector is currently capped at 26 percent. A bill to raise the cap to 49 percent is stuck in parliament.&nbsp;</div>
<div>
	&nbsp;</div>
<div>
	<strong>Defence Production&nbsp;</strong></div>
<div>
	There was effectively no change in the FDI cap of 26 percent in the defence sector, although trade minister Anand Sharma said a cabinet panel would consider any FDI proposal for investment above 26 percent in state-of-the-art technology.&nbsp;</div>
<div>
	&nbsp;</div>
<div>
	<strong>Retail&nbsp;</strong></div>
<div>
	FDI up to 49 percent in the single-brand retail sector will no longer require the FIPB&rsquo;s approval. The government also said it will issue clarifications soon on its FDI policy for supermarkets.&nbsp;</div>
<div>
	&nbsp;</div>
<div>
	<strong>Commodity, Power and Stock Exchanges&nbsp;</strong></div>
<div>
	Foreign investment of up to 49 percent will not require the government&rsquo;s approval.&nbsp;</div>
<div>
	&nbsp;</div>
<div>
	<strong>Asset Reconstruction Companies&nbsp;</strong></div>
<div>
	India will allow FDI up to 49 percent with no government approval, but foreign investors will need FIPB approval to buy a bigger stake in an Indian asset reconstruction company.&nbsp;</div>
<div>
	&nbsp;</div>
<div>
	<strong>Courier Services&nbsp;</strong></div>
<div>
	Foreign investors can now invest up to 100 percent in the courier services sector and will not need government approval.&nbsp;</div>
<div>
	&nbsp;</div>
<div>
	<strong>Credit Information Companies&nbsp;</strong></div>
<div>
	India will allow up to 74 percent FDI in credit information companies, with no need to seek government approval for investments up to that level.&nbsp;</div>
<div>
	&nbsp;</div>
<div>
	<strong>Civil Aviation and Media&nbsp;</strong></div>
<div>
	The government left FDI caps in civil aviation and media unchanged at 49 percent and 26 percent respectively.&nbsp;</div>
<div>
	<em>(Agency)</em></div>
<div>
	&nbsp;</div>',
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			'description' => 'India has relaxed foreign direct investment (FDI) rules across several industries, including telecoms, single brand retail and oil and gas, in a bid to lure capital inflows, prop up a sliding currency and accelerate growth. India’s weakest economic growth in a decade and a record high current account deficit have made the rupee the worst-performing emerging Asian currency so far this year.',
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	(int) 5 => array(
		'Article' => array(
			'id' => '1454',
			'article_category_id' => '136',
			'title' => 'Target 7 Percent Growth (22-28 July 2013)',
			'sub_title' => '',
			'summary' => null,
			'content' => '<div>
	<img alt="Baburam Gautam Assistant Auditor General, Office of the Auditor General (OAG)" src="/userfiles/images/Baburam%20Gautam.jpg" style="float: left; margin: 0px 10px 0px 0px;width: 100px; height: 120px;" /><strong>Baburam Gautam</strong></div>
<div>
	<em>Assistant Auditor General, Office of the Auditor General (OAG)&nbsp;</em></div>
<div>
	&nbsp;</div>
<div>
	Attaining 7 per cent economic growth is not a farfetched target. Firstly, there should be a focus on increasing investment in productive sectors, creation of investment friendly environment, development of human resources and inculcation of financial discipline. A huge amount of government budget is spent in unproductive sectors and, it must be decreased. Distributive and consumptive economic management will make it difficult to attain good economic growth. Both the government and the private sector must increase capital investment in the productive sector. For that, there must be assurance of investment security to attract foreign investments. Similarly, a large number of youths are going abroad and it is adversely affecting the country&rsquo;s development. This young work-force should be able to find employment within the country and they should be mobilised in the productive sector. Government is investing Rs 40-50 billion annually in public enterprises most of whom are making loss. This shows a lack of vision. Likewise, tax is not being used properly and thus, people are unwilling to come under the tax bracket. If economic discipline can be maintained, 7 per cent economic growth is possible to achieve.</div>
<div>
	&nbsp;</div>
<div>
	<img alt="Surendra Bir Malakar General Secretary National Business Initiative (NBI)" src="/userfiles/images/Surendra%20Bir%20Malakar.jpg" style="float: left; margin: 0px 10px 0px 0px;width: 100px; height: 121px;" /><strong>Surendra Bir Malakar</strong></div>
<div>
	<em>General Secretary&nbsp;</em></div>
<div>
	<em>National Business Initiative (NBI)&nbsp;</em></div>
<div>
	&nbsp;</div>
<div>
	There are many issues that need to be settled for Nepal to achieve 7 per cent growth. While some of the issues are political, others are economic. Political parties may have differences in ideologies but they should come together to address economic problems facing the country.&nbsp;</div>
<div>
	&nbsp;</div>
<div>
	The government should concentrate on building physical infrastructure to attract investment. As the economy is afloat only due to remittances, the government should give incentives to businesses that produce export-quality goods. Hydropower holds the key to Nepal&rsquo;s future. If energy is generated through domestic and foreign investment, big strides can be taken in every field.</div>',
			'published' => true,
			'created' => '2013-07-22',
			'modified' => '2013-07-22',
			'keywords' => 'the corporate weekly from Nepal, nepali corporate events – news – interviews – reviews, nepali corporate focus, nepali corporate status and news, news from nepali corporate industry, corporate happenings – events – news from nepal',
			'description' => 'Attaining 7 per cent economic growth is not a farfetched target. Firstly, there should be a focus on increasing investment in productive sectors, creation of investment friendly environment, development of human resources and inculcation of financial discipline.',
			'sortorder' => '1315',
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	(int) 6 => array(
		'Article' => array(
			'id' => '1453',
			'article_category_id' => '135',
			'title' => 'FY 2013-14 Budget: Positive Towards Every Sector',
			'sub_title' => '',
			'summary' => null,
			'content' => '<div>
	<span style="font-size:14px;">Fiscal Year 2013-14 budget of the government has given positive signals towards every sector as it has considered the demands and suggestions from different sectors. The positive signals emanate primarily from the fact that it is the first full-fledged budget brought out before the beginning of the fiscal year in the last three years. Some experts, however, expressed their dissatisfactions over the programmes introduced by the government. The Corporate has gathered views from experts and business communities regarding Budget 2013-14. <strong>Excerpts:</strong></span></div>
<div>
	&nbsp;</div>
<div>
	<img alt="Sekhar Golchha President Nepal Automobile Dealers’ Association (NADA" src="/userfiles/images/shekhar%20golcha.jpg" style="float: left; margin: 0px 10px 0px 0px;width: 100px; height: 126px;" /><strong>Sekhar Golchha&nbsp;</strong></div>
<div>
	<em>President&nbsp;</em></div>
<div>
	<em>Nepal Automobile Dealers&rsquo; Association (NADA)&nbsp;</em></div>
<div>
	Full-fledged budget was not introduced since long. This year, the government introduced full- fledged budget and we think this is a good beginning. A full-fledged budget, despite its shortcomings, will help economy to move forward. We had requested the government to reduce the tax levied on automobiles but government did not do that. Except on alcohol and tobacco, the government has not changed the tax on goods. In this context, there is no space to show our dissatisfaction to the government. If taxes were decreased, it would have helped to increase the economy. Budget has targeted to provide roads to every district, which will have positive impact on business of automobiles. Actually, roads and transportation are the key element for economic growth.</div>
<div>
	&nbsp;</div>
<div>
	<img alt="Ashok Temani Immediate Past President Birgunj Chamber of Commerce and Industry (BiCCI)" src="/userfiles/images/Ashok%20Temani.jpg" style="float: left; margin: 0px 10px 0px 0px;width: 100px; height: 116px;" /><strong>Ashok Temani&nbsp;</strong></div>
<div>
	<em>Immediate Past President&nbsp;</em></div>
<div>
	<em>Birgunj Chamber of Commerce and Industry (BiCCI)&nbsp;</em></div>
<div>
	Budget has covered every aspect. It has focused on physical infrastructure, including energy which is quite positive and commendable. It is worth mention here that five percent economic growth is possible if the major provisions of the budget are implemented effectively. The budget has earmarked money to construct infrastructure for railway, build international airport at Nijgadh, generation of electricity and transmission lines for electricity. These are some instances of development friendly budget allocation. Similarly, government has promised to implement &lsquo;One Village One Product Programme&rsquo;, to develop the agricultural business and to build a ware-house in Kolkata to ease foreign trade.</div>
<div>
	&nbsp;</div>
<div>
	<img alt="Barsha Man Pun,Former Finance Minister" src="/userfiles/images/Barsha%20Man%20Pun.jpg" style="float: left; margin: 0px 10px 0px 0px;width: 100px; height: 115px;" /><strong>Barsha Man Pun</strong></div>
<div>
	<em>Former Finance Minister&nbsp;</em></div>
<div>
	The government has brought programmes violating earlier agreement with the political parties. The size of the budget is quite big and Rs 16 million allocated to hold elections is not justifiable. There is a high chance of manipulation of such a big amount. Political parties had suggested the government to allocate Rs 10 million for the purpose of election. Despite being an election government, this government has brought a number of populist programmes. Similarly, long- term programmes have been added to the budget. It shows that the government is trying to lengthen its tenure.</div>
<div>
	&nbsp;</div>',
			'published' => true,
			'created' => '2013-07-22',
			'modified' => '0000-00-00',
			'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' => 'Fiscal Year 2013-14 budget of the government has given positive signals towards every sector as it has considered the demands and suggestions from different sectors. The positive signals emanate primarily from the fact that it is the first full-fledged budget brought out before the beginning of the fiscal year in the last three years.',
			'sortorder' => '1314',
			'image' => null,
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	(int) 7 => array(
		'Article' => array(
			'id' => '1452',
			'article_category_id' => '117',
			'title' => 'Comments Regarding Budget Of FY 2013/14 From Different Sectors',
			'sub_title' => '',
			'summary' => null,
			'content' => '<div>
	<span style="font-size:14px;"><strong><img alt="The Federation of Nepalese Chamber of Commerce and Industry (FNCCI)" src="/userfiles/images/FNcci.jpg" style="float: left; margin: 0px 10px 0px 0px; width: 200px; height: 218px;" /><span style="font-size:16px;">&lsquo;FNCCI Welcomes Budget&rsquo;</span>&nbsp;</strong></span></div>
<div>
	&nbsp;</div>
<div>
	Nepal has not had a full -fledged budget since long. The Federation of Nepalese Chamber of Commerce and Industry (FNCCI) is thankful to Finance Minister Shanker Koirala who announced a full -fledged budget of Rs 517.24 billion for the year 2013/14 which will stimulate the national economy. The budget speech set priorities as per recommendations from different quarters and the government has accepted the private sector as a backbone of the economy. The federation also praised the budget for providing more funds to &lsquo;One Village, One Product&rsquo; and &lsquo;One District, One Product&rsquo; programmes promoted by FNCCI.&nbsp;</div>
<div>
	&nbsp;</div>
<div>
	Though the budget has given priority to the development of infrastructure and hydropower along with power transmission line, it lacks incentives for export-oriented industries and substantial programmes to address the existing energy crisis, said the key speakers at a press meet organized by FNCCI. The apex body of the Nepali private sector has said that though the budget holds good long- term programmes for energy supply, it does not encourage private power producers to address energy crisis in the short term.&nbsp;</div>
<div>
	&nbsp;</div>
<div>
	FNCCI also expressed its dissatisfaction on the government&rsquo;s lack of attention on export promotion and import substitutions. The body had urged for reimbursement from the government of VAT paid by private power producers and for reviewing the PPA rates. The government, however, has remained silent in meeting these demands. It has also remained silent in channeling remittance money for hydropower projects, complains FNCCI. Overall, the FNCCI is quite positive regarding the budget and has stated that proper implementation of the budget is the main challenge for government.</div>
<div>
	&nbsp;</div>
<div>
	<span style="font-size:14px;"><strong><img alt="The Confederation of Nepalese Industries (CNI)" src="/userfiles/images/CNI.jpg" style="float: right; margin: 0px 0px 0px 10px; width: 200px; height: 191px;" /><span style="font-size:16px;">&lsquo;CNI Sees Budget as Positive&rsquo;&nbsp;</span></strong></span></div>
<div>
	&nbsp;</div>
<div>
	The Confederation of Nepalese Industries (CNI) has welcomed the budget of FY 2013/14 terming it encouraging to the country&rsquo;s economy. The CNI praised the budget for addressing many of the demands of the private sector. The confederation also thanked the government for introducing a private-sector friendly budget. It is optimistic regarding the budget as besides being focused on holding the election to the Constituent Assembly, the government showed concern towards investment promotion, industrial infrastructure development, resolution of power woes, export promotion and the development of industrial estates and special economic zones (SEZs) with the aim of speeding up economic growth. The CNI, however, expressed its dissatisfaction for the government not paying attention to ease the immediate energy shortages.</div>
<div>
	&nbsp;</div>
<div>
	<span style="font-size:14px;"><strong><img alt="Birgunj Chamber of Commerce &amp; Industry (BiCCI)," src="/userfiles/images/BICCI.jpg" style="float: left; margin: 0px 10px 0px 0px;width: 200px; height: 199px;" /><span style="font-size:16px;">Budget Tries to Address Private Sector&rsquo;s Demands: BiCCI&nbsp;</span></strong></span></div>
<div>
	&nbsp;</div>
<div>
	According to the Birgunj Chamber of Commerce &amp; Industry (BiCCI), FY 2013-14 budgets has addressed the demands of the private sector. The budget has tried to give a proper direction to economic policies. As the government was not able to bring full-fledged budgets on time, there is hope from the current budget which is brought in time. The BCCI welcomes the decision of the government to honour investors who invest Rs 1 billion, to give continuity to Integrated Check Post (ICP) construction in Birgunj and generation of hydro electricity and development of transmission lines.&nbsp;</div>
<div>
	&nbsp;</div>
<div>
	BiCCI has also welcomed that the government has also included in the budget funds for the construction of Birgunj- Pathlaiya six-lane highway, the establishment of Kathmandu-Terai fast track. Nevertheless, the budget is silent on the issue of increasing trade deficit and disequilibrium in imports and exports, as it focuses mainly on imports rather than exports. The government also did not address the demand of concession in VAT for domestic industries.</div>
<div>
	&nbsp;</div>
<div>
	<span style="font-size:14px;"><strong><img alt="Federation of Nepal Cottage and Small Industries (FNCSI)" src="/userfiles/images/fncsi.jpg" style="float: right; margin: 0px 0px 0px 10px;width: 200px; height: 173px;" /><span style="font-size:16px;">&lsquo;FNCSI Expresses Satisfaction at the Budget&rsquo;</span></strong></span></div>
<div>
	&nbsp;</div>
<div>
	Federation of Nepal Cottage and Small Industries (FNCSI) considered the budget to be quite satisfactory because it has addressed the needs and demands of the private sector. The budget has also included the suggestions of industrial sectors which is quite encouraging, says FNCSI. Similarly, it has included plan to prepare the industrial profile of all 75 districts, constructing a new exhibition centre in Kathmandu and international level industrial and trading exhibition centres in Chobhar. The budget gives priority to creating an investment-friendly environment and includes constructing the Nepal Industrial Center in Kathmandu with the cooperation of the government and the private sector. Similarly, it prioritizes in establishing an auction house in Nepalgunj for herbs and a tea auction house in Illam and gives importance to the agriculture and energy sectors. The government aims to make Nepal a developing country along with attaining high economic growth by 2022. The FNCSI has also pointed out the negative points of the budget including ensuring financial access for micro, cottage and small industries. The budget did not introduce clear policies and programmes for increase in export, import substitution and the promotion of micro, cottage and small industries to control trade deficit. The budget did not work on the suggestions given by FNCSI for the promotion and development of micro, cottage and small industries, says FNCSI.</div>',
			'published' => true,
			'created' => '2013-07-22',
			'modified' => '2013-07-22',
			'keywords' => 'the corporate weekly from Nepal, nepali corporate events – news – interviews – reviews, nepali corporate focus, nepali corporate status and news, news from nepali corporate industry, corporate happenings – events – news from nepal',
			'description' => 'Comments Regarding Budget Of FY 2013/14',
			'sortorder' => '1313',
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	(int) 8 => array(
		'Article' => array(
			'id' => '1451',
			'article_category_id' => '122',
			'title' => 'New Beginnings For Incentive Tours And Travels',
			'sub_title' => '',
			'summary' => null,
			'content' => '<div>
	&nbsp;</div>
<div>
	&nbsp;</div>
<table align="right" border="0" cellpadding="1" cellspacing="1">
	<tbody>
		<tr>
			<td>
				<img alt="Nutan Bajracharya,Group General Manager, Incentive Group of Companies" src="/userfiles/images/nutan.jpg" style="width: 225px; height: 248px;" /></td>
		</tr>
		<tr>
			<td style="text-align: center;">
				<strong>Nutan Bajracharya</strong><br />
				<em>Group General Manager<br />
				Incentive Group of Companies</em></td>
		</tr>
	</tbody>
</table>
<div>
	<strong style="font-size: 12px;">--By Sushila Budhathoki</strong></div>
<div>
	&nbsp;</div>
<div>
	The selection of Incentive Tours and Travels Pvt. Ltd, a Kathmandu-based travel agency, as General Sales Agent (GSA) of Air Asia X - the premiere Malaysia budget carrier - is not a co-incidence with the announcement of Visit Malaysia Year 2014, but a result of five years of hard work to achieve such an assignment.&nbsp;</div>
<div>
	&nbsp;</div>
<div>
	The company turned GSA of Air Asia X last year but the excitement of winning the title persists. It was obvious for Incentive Tours and Travel, also known as Incentive Group of Companies, that this wouldbecome a major turning point in their business. Nutan Bajracharya, General Manager of the group says, &ldquo;It happened because of the diligence and hard work of our Chairman Hariman Lama whostarted his career as a messenger in a travel agency..&rdquo; Lama symbolizes the brand image the company is to going to form.&nbsp;</div>
<div>
	Having started off as Incentives Tours and Travels in 1999, the group now acquires two other companies namely Sansui Cargo and Incentive Holidays. With five flights a week to Malaysia, the group acquires 25 percent of market shares in flights to and from Malaysia, according to the company&rsquo;s spokesperson. Within a short span of time, the company has served over 10 thousand tourists from all over the world, mainly theUS, Japan, Europe and South East Asian countries. The company now has anannual turnover of two billion&nbsp;</div>
<div>
	&nbsp;</div>
<div>
	<strong>Targeting the middle class&nbsp;</strong></div>
<div>
	&nbsp;</div>
<div>
	Before the introduction of direct flights and economy tourism packages, only upper class customers were considered to be the target market for international tourism in Nepal. According to the company, it is the sole enterprise that flies people at an affordable fare and targets mostly middle class consumers.. The company has now expanded its services to China, Thailand, Vietnam, Cambodia, India, Bhutan and Tibet. &ldquo;We are now focusing on out-bound tourism because a high number of Nepalis are going abroad daily for jobs, travel or to study,&rdquo; says Bajracharya.&nbsp;</div>
<div>
	&nbsp;</div>
<div>
	Recently, the company has come up with a travel package to Malaysia targeting the middle class in Nepal. &ldquo;We have a four-night-five-day tour package for Malaysia at the price of Rs 49,499and, so far we have received very good bookings,&rdquo; he shares.&nbsp;</div>
<div>
	&nbsp;</div>
<div>
	International ticketing and tour packages as well as cargo all around the world are Incentive&rsquo;s services at the offing. Says Bajracharya: &ldquo;We have trekking and mountaineering as well, in addition to our packages forout-bound tourism.&rdquo; According to him, Air Asia X is gaining popularity among people flying togulf countries and some 200-250 people choose to fly with it every month. The company has a target of increasing this number to 500 passengers per month. Among those who come to Incentive Holidays, Singapore and Malaysia are the most visited destinations.&nbsp;</div>
<div>
	&nbsp;</div>
<div>
	The services of the company include hotel reservations, domestic flights, MICE (Meeting, Incentives, Conferencing and Exhibition), international flights, helicopter charters, special tailored tours and out-bound tours. Bungee jumping, paragliding, mountain flights, jungle safari, tours, sightseeing and white water river rafting are other activities the company has been in the business of. Prior to Incentive Holidays, Incentive Tours and Travels used to handle these businesses.&nbsp;</div>
<div>
	&nbsp;</div>
<div>
	Nutan sees three or four companies as his competitors. He says they have packages for outbound tourists as well butwhen it comes totour packages in Malaysia, competition seems to have been eliminated due to Incentive&rsquo;s alliance with Air Asia.&nbsp;</div>
<div>
	&nbsp;</div>
<div>
	<strong>Human Resource Management&nbsp;</strong></div>
<div>
	&nbsp;</div>
<div>
	Nutan shares that his company follows staff rules and regulations for pay and perks. &ldquo;We hire experts and seek their recommendation to manage our human resource,&rdquo; he says, adding that this system becomes instrumental in keeping the company fine tuned. &ldquo;Even when staff are at leave or in holiday, the company&rsquo;s schedule is not affected since their tasks are handled systematically.&rdquo; Including five Deputy General Managers and board directors, the company currently employs 50 people, among who 17 are women.&nbsp;</div>
<div>
	&nbsp;</div>
<div>
	The company has fixed working hours and holidays for the staff, which according to Nutan are mostly disciplined and rule abiding. In a bid to acknowledge the work of his staff and to further motivate them, the company confers the&lsquo;Staff of the year&rsquo; award annually to those who have worked well and served the company for over five years. . To keep the staff up to mark with international standards, the company often sends them abroad for training and also invites experts from outside to train them.&nbsp;</div>
<div>
	&nbsp;</div>
<div>
	<strong>Challenges and opportunities&nbsp;</strong></div>
<div>
	&nbsp;</div>
<div>
	Since there is a huge opportunity and scope in the tourism sector, it seems that the private companies have not been able to exploit it. Bajracharya is upbeat about the prospect of tourism in Nepal. &ldquo;Although Nepal is a country of amazing extremes including the greatest mountain range and anincredible variety of ecosystems, we have not been able to draw a large number of tourists,&rdquo; he says. &ldquo;Our company strives towards tapping this huge potential by bringing adventurous and luxury travelers from around the world.&rdquo;&nbsp;</div>
<div>
	&nbsp;</div>
<div>
	Like many industries in Nepal, the unpredictable but recurring strikes are having an adverse impact in their business too. Bajracharya says that it not only incurs a huge loss to the economy but also paints a negative image of the country in the international arena. However, he is optimistic about the future of the tourism.. He underlines the need for massive tourism to make it a foremost industry.&nbsp;</div>
<div>
	&nbsp;</div>
<div>
	Hosting the tourist, which was once considered a part of the culture in Nepal, is now growing to be a lucrative business. In his experience, the understanding of tourism benefits among local people has increased. &ldquo;Peoplein remote areas these days are using western-style toilets because they now understand the value of tourism,&rdquo; he observes.&nbsp;</div>
<div>
	&nbsp;</div>
<div>
	Hariman, however, laments the apathy and indifference shown by the government towards the tourism industry. He says, &ldquo;The government is not serious in exploring new tourist destinations. It is least bothered to promote already discovered tourist destinations and trekking trails. For example there isn&rsquo;t a single comprehensive information booklet published by the government consisting of information on tourist destinations in Nepal.&rdquo;&nbsp;</div>
<div>
	&nbsp;</div>
<div>
	<strong>Future Strategy&nbsp;</strong></div>
<div>
	&nbsp;</div>
<div>
	The group aims to become an international travels and tours operator in the near future. The exploration of new international destinations is their immediate plan, targeting the outbound tourists. &ldquo;We are exploring new destinations all around the world catering with services at competitively lower prices,&rdquo; Bajracharyainforms.&nbsp;</div>
<div>
	&nbsp;</div>
<div>
	Speaking about the travel patterns in general, Bajracharaya observes that people usually go for pre-made packages and are relatively clueless about future travel plans.. &ldquo;The ignorance of new destinations is the reason behind this,and this is why we are inviting travelers with new packages as planned by our company,&rdquo; he concludes.</div>
<div>
	&nbsp;</div>
<div>
	<img alt="AirAsia " src="/userfiles/images/airasia1.jpg" style="width: 600px; height: 331px; margin: 5px;" /></div>
<div>
	&nbsp;</div>
<table border="0" cellpadding="10" width="99%">
	<tbody>
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			<td bgcolor="#FFFFFF">
				<div>
					<span style="font-size:16px;"><strong>AT A GLANCE</strong></span></div>
				<div>
					&nbsp;</div>
				<div>
					<div>
						<span style="font-size:16px;">Incentives Group of Companies&nbsp;</span></div>
					<div>
						&nbsp;</div>
					<div>
						<strong>Incentives Tours and Travels&nbsp;</strong></div>
					<div>
						&nbsp;</div>
					<div>
						Founded in 1999, the company offers travel and tour packages as well as other services like ticketing, hotel reservation, paragliding andjungle safari.&nbsp;</div>
					<div>
						&nbsp;</div>
					<div>
						<strong>Sansui Cargo&nbsp;</strong></div>
					<div>
						&nbsp;</div>
					<div>
						Founded in 2012, the company provides cargo services all over the world.&nbsp;</div>
					<div>
						&nbsp;</div>
					<div>
						<strong>Incentive Holidays&nbsp;</strong></div>
					<div>
						&nbsp;</div>
					<div>
						Founded in 2012, the company is the GSA of Air Asia X for Nepal and offers special tour packages for Malaysia, China, Vietnam, Cambodia and Thailand.&nbsp;</div>
					<div>
						&nbsp;</div>
					<div>
						<strong>Strengths</strong></div>
					<ul>
						<li>
							Discipline and good working culture&nbsp;</li>
					</ul>
					<div>
						&nbsp;</div>
					<div>
						<strong>Threats </strong></div>
					<ul>
						<li>
							<span style="font-size: 12px;">Political instability&nbsp;</span></li>
						<li>
							Success mantras&nbsp;</li>
						<li>
							Continuity with honesty&nbsp;</li>
						<li>
							Cost efficiency&nbsp;</li>
						<li>
							Good service&nbsp;</li>
					</ul>
					<div>
						&nbsp;</div>
					<div>
						<strong>CSR Activities</strong></div>
					<div>
						&nbsp;</div>
					<div>
						So far the company has been helping flood victims and local clubs as a part of their corporate social responsibility. However, this company is keenly looking to do something more in the travel and tourism sector. Bajracharya says that they are planning to renovate temples, footpaths and other sites of cultural heritage.&nbsp;</div>
					<div>
						&nbsp;</div>
					<div>
						<strong>Individual brand matters&nbsp;</strong></div>
					<div>
						&nbsp;</div>
					<div>
						Asthe chairperson of the group, Lama, has been associated with the travel businessfor approximately 30 years. The prospects he saw in the tourism sector encouraged and led him to establish his own company. Now, his struggle and diligencehas paid him off,making him the owner of the company from his humbles beginnings as messenger for a previous work place.&nbsp;</div>
					<div>
						&nbsp;</div>
					<div>
						In 2000, he got another opportunity to gain an international recognition. His participation at the Global Youth Meet, where youths from around 58 countries were present, gave him an opportunity to project himself as a promising businessman in the tourism business.&nbsp;</div>
					<div>
						&nbsp;</div>
					<div>
						<strong>Networking and Affiliation&nbsp;</strong></div>
					<div>
						&nbsp;</div>
					<div>
						Incentive Tours and Travels is a member of Nepal Association of Travel Agents (NATA). It is also affiliated with Nepal Tourism Board (NTB), International Air Transport Association (IATA), Pacific Air Travel Association (PATA), Trekking Agencies&rsquo; Association of Nepal (TAAN), and various other associations. Nutan informs that his company has links with around 150 hotels in Nepal to use this facility for in-bound tourists.</div>
				</div>
			</td>
		</tr>
	</tbody>
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<p>
	&nbsp;</p>',
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			'description' => 'The selection of Incentive Tours and Travels Pvt. Ltd, a Kathmandu-based travel agency, as General Sales Agent (GSA) of Air Asia X - the premiere Malaysia budget carrier - is not a co-incidence with the announcement of Visit Malaysia Year 2014, but a result of five years of hard work to achieve such an assignment.',
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			'title' => 'Corptoon Issue 23',
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	<img alt="" src="/userfiles/images/Corptoon%2023.jpg" style="width: 600px; height: 857px;" /></p>',
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			'description' => 'Corptoon',
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			'id' => '1449',
			'article_category_id' => '91',
			'title' => 'Microfinance And Agro Friendly Monetary Policy',
			'sub_title' => '',
			'summary' => null,
			'content' => '<div>
	<strong><span style="font-size: 12px;">--BY Siromani Dhungana</span></strong></div>
<div>
	&nbsp;</div>
<div>
	<span style="font-size: 12px;">Nepal Rastra Bank (NRB) has brought out a monetary policy that is specially friendly to strengthening micro-finance and agriculture sectors.</span></div>
<div>
	&nbsp;</div>
<div>
	In the policy announced on Sunday, NRB has cut the Cash Reserve Ratio (CRR) by one percent. With the introduction of new monetary policy, the category &lsquo;A&rsquo; financial institution has to maintain CRR at 5 per cent, while category &lsquo;B&rsquo; and category &lsquo;C&rsquo; institutions have to maintain it at 4.5 per cent and 4 per cent, respectively.</div>
<div>
	&nbsp;</div>
<div>
	Likewise, the policy has fixed the Statutory Liquidity Ratio (SLR) of 12 percent, 9 percent and 8 percent for category A, B and C financial institutions, respectively which is one per cent decrease compared to the previous provision.&nbsp;</div>
<div>
	&nbsp;</div>
<div>
	The central bank has also reduced the refinancing rate for agriculture, hydro-power and others productive sectors to 5 per cent from earlier 6 percent.&nbsp;</div>
<div>
	&nbsp;</div>
<div>
	The central bank failed to address demands put forth by the Nepal Bankers&rsquo; Association (NBA). It has provisioned that the commercial bank has to have a total of 20 percent of outstanding loans in &lsquo;productive&rsquo; sector including at least 12 percent in agriculture and energy sector by end the of May 15, 2015. The association has demanded to relax the provision saying the compulsory provision can create unnecessary pressure to the banks.&nbsp;</div>
<div>
	&nbsp;</div>
<div>
	Similarly, bankers&rsquo; association had also asked the central bank to relax the provision of Credit-Deposit Ratio (CDR) and increase its limitation to 85 percent. But the central bank did not change the provision of CDR from 80 percent.&nbsp;</div>
<div>
	&nbsp;</div>
<div>
	Similarly, Nepal Rastra Bank did not bring any provision to relax real estate lending.&nbsp;</div>
<div>
	&nbsp;</div>
<div>
	NRB says the new monetary policy will help to attain 5.5 per cent economic growth rate as targeted by the government budget for FY 2013-14 and restrict the inflation to 8 per cent in the fiscal year.</div>
<div>
	&nbsp;</div>',
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			'article_category_id' => '34',
			'title' => 'Live Streaming Of Nubiz B-Schools Awards Event',
			'sub_title' => '',
			'summary' => null,
			'content' => '<h2>
	<a href="http://www.abhiyan.com.np/galleries-45">Photo Gallery Of Nubiz B-Schools Awards Event </a><br />
	<br />
	<a href="http://www.abhiyan.com.np/galleries-45"><img alt="B School" src="/userfiles/images/bschool.jpg" style="margin: 10px; width: 200px; height: 120px;" /></a><br />
	<br />
	<iframe frameborder="0" height="340" scrolling="no" src="http://cdn.livestream.com/embed/khumbaya?layout=4&amp;clip=pla_7cf3d9ed-b5a1-4811-acc3-5fded5d4560f&amp;height=340&amp;width=560&amp;autoplay=false" style="border:0;outline:0" width="560"></iframe></h2>
<div style="font-size: 11px;padding-top:10px;text-align:center;width:560px">
	Watch <a href="http://www.livestream.com/?utm_source=lsplayer&amp;utm_medium=embed&amp;utm_campaign=footerlinks" title="live streaming video">live streaming video</a> from <a href="http://www.livestream.com/khumbaya?utm_source=lsplayer&amp;utm_medium=embed&amp;utm_campaign=footerlinks" title="Watch khumbaya at livestream.com">khumbaya</a> at livestream.com</div>
<p>
	&nbsp;</p>
<h2>
	<a href="http://www.livestream.com/khumbaya/folder">Click Here to see all the remaining videos of the event </a></h2>',
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			'id' => '1446',
			'article_category_id' => '40',
			'title' => 'Towards Inclusive Growth',
			'sub_title' => '',
			'summary' => null,
			'content' => '<div>
	&nbsp;</div>
<div>
	&nbsp;</div>
<div>
	<span style="font-size: 12px;">It was India&rsquo;s Montek Ahluwalia who coined the phrase &lsquo;inclusive growth&rdquo; in the 1970s with the World Bank (WB) Report &ldquo;Redistribution with Growth&rdquo;; and later it was reckoned that $ 1 per day (currently $ 1.25 per day) as being the line of absolute poverty which had to be traversed to be pro-poor and &lsquo;inclusive&rsquo;.&nbsp;</span></div>
<div>
	&nbsp;</div>
<div>
	Whereas Marx wanted &ldquo;forced redistribution&rdquo; of assets of the feudal and bourgeois classes for inclusion, Ahluwalia wanted redistribution through legal, monetary and fiscal interventions. The problem with both was that, as socialists, the concept lacked faith in the middle class as the true vanguards of democracy-- and the private sector as the true engineers of efficient and rapid economic growth and employment creation.</div>
<div>
	&nbsp;</div>
<div>
	And so this $ 1 a day &lsquo;absolute poverty&rsquo; thesis of Montek Ahluwalia gave birth to the Human Development thesis of Pakistan&rsquo;s Mahbul Haq, which basically sought &lsquo;inclusion&rsquo; by creating equality of opportunities for all those excluded, especially women and the girl child.&nbsp;</div>
<div>
	&nbsp;</div>
<div>
	Haq pioneered the human capital revolution which got us to think of creativity and productivity as the true source of prosperity and human welfare and not the usual underscoring of the importance of natural, physical or financial capital. He got us to think of people as more than just labour. And he made them the centerpiece of development.</div>
<div>
	<img alt="" src="/userfiles/images/cs1.jpg" style="float: left; margin: 0px 10px 0px 0px; width: 220px; height: 328px;" /></div>
<div>
	The Human Development Index is his lasting legacy. Haq learnt from the experience of Pakistan in the 1960s that one could have 7% GDP growth and also suffer acute inequalities and inequities to exclude the poor from the fruits of growth&mdash;and worse, exclude 50% of the population of women who needed to be empowered by the State. He also re-introduced the concept of &lsquo;human security&rsquo; which was the foundation on which the Japanese economic miracle of the 1950s-70s occurred with little or no natural resources.&nbsp;</div>
<div>
	&nbsp;</div>
<div>
	&lsquo;Growth&rsquo; and &lsquo;development&rsquo; are related but different concepts. Growth theories apply to developed nations whereas development theories apply to underdeveloped nations mired in hunger, malnutrition, illiteracy, ill health, superstition, deprivation, exploitation and underemployment of human resources.</div>
<div>
	&nbsp;</div>
<div>
	Inclusive Growth also refers to the need for a &lsquo;balanced growth&rsquo; between (a) agriculture and manufacturing and (b) urban and rural areas of a nation. Thus inter &ndash;industry analysis and input-output models were developed and regional economics became a separate discipline to deal with geographic inequalities in growth. (As early as the 1970s Centre for Economic Development and Administration (CEDA) under Tribhuvan University, intellectually led by the likes of Dr Harka B Gurung and Dr Ratna SJB Rana were doing such seminal work for Nepal for regional balance by examining possible growth centres and corridors, which was waylaid by foreign aid that opted for extraneous models of development. This eventually sowed the seeds of conflict in Nepal with its over-emphasis on the role of the central bureaucracy and a Kathmandu-centric model of development. I am referring to the failed Integrated Development Projects (IRDPs) of the World Bank and the several bilateral donors working in isolation of each other to practically make the central bureaucracy their own dysfunctional and corrupt fiefdoms. It failed because it was costly and opted for decentralization rather than devolution with bottom up local leadership development with people&rsquo;s participation).</div>
<div>
	&nbsp;</div>
<div>
	In the 1980s, a new growth and development paradigm was born-- &lsquo;sustainable growth&rsquo;. It was felt that the cost to the natural environment was not being factored in by the GDP approach as the very success of growth resulted in externalities such as environment degradation, pollution of air, soil, water&mdash;one may say, development&rsquo;s impact was toxic. For most of the time, growth theory was driven by concern for its pace and pattern of growth. Then comes concern for its impact on Nature. And thus was added a new dimension to &lsquo;inclusion&rsquo; theory.&nbsp;</div>
<div>
	<img alt="" src="/userfiles/images/cs2.jpg" style="float: right; margin: 0px 0px 0px 10px; width: 352px; height: 175px;" /></div>
<div>
	In the 1990&rsquo;s, led by Nepal&rsquo;s Gandhian statesman PM Krishna Prasad Bhattarai, a new concept was bestowed to the development paradigm. &lsquo;Pro-poor growth&rsquo; was the term coined by the SAARC Independent Commissioners in 1992 (see the SAARC Secretariat Report: &ldquo;Meeing the Challenge) as it began to grapple with growth models that tended to &lsquo;walk on one foot&rsquo;, as it were. Thus it emphasized Structural and Extended Structural Adjustment Programmes (SAP and ESAP) passionately underwritten by the International Monetary Fund (IMF) and the World Bank in tandem to usher economic and financial reforms since the 1980s.&nbsp;</div>
<div>
	&nbsp;</div>
<div>
	The SAP and E-SAP model of growth and development ignored the contribution that the poor, especially women, could make to growth by treating them as objects of development and not the subjects. Hence the call for &lsquo;pro-poor growth&rsquo; with Organizations of the Poor to be engaged in self help, self development and self management by designing locally based growth and development models unique to its social, cultural and ecological environments. For this to happen, it called for Social Mobilization of the Poor by the State so that they can participate in development and democracy through the mechanism of the Market. It believed that South Asia could have 9% GDP growth with 3% being contributed by the poor themselves, if it followed a strategy of walking on two legs &ndash; (a) priority to agriculture (b) development of labour intensive SMEs in manufacturing (c) human development and human security (d) social mobilization of the poor to create Organizations of the Poor to pursue their own models of growth and at their own pace as also to countervail the power of the ruling and rural elites. Its lasting contribution is the inclusion of &lsquo;social capital&rsquo; as a viable and relevant development model where the local culture should be included, and seen as an enduring asset, along with the traditional local institutions in the form of Community-based Organisations (CBOs) and TVOs. (Alas, the NGOs, sadly, were trying to make them irrelevant being driven by extraneous social and political forces under the banner of universal human rights )&nbsp;</div>
<div>
	<img alt="" src="/userfiles/images/cs3.jpg" style="width: 525px; height: 175px; margin: 10px 25px;" /></div>
<div>
	&nbsp;</div>
<div>
	<strong>Development through Devolution (The Alternative Model for 2015-20)&nbsp;</strong></div>
<div>
	&nbsp;</div>
<div>
	It is unlikely that a top-down driven development paradigm comprising national planning, state enterprises, labour unions &hellip; will allow inclusion of all. This can only happen when opportunities are created for all by supporting markets garnished by agrarian, economic, financial, administrative and labour reforms. Not least maximizing a bottom up development paradigm with maximum scope for local leadership development and culture-specific innovations to achieve MDGs goals and targets by the locals themselves in tune with their own capacity to deliver. This requires that the national think tanks adopt more than Chamber&rsquo;s Participatory Research Approach (PRA) for Participatory Action Research (PAR) as underlined by the SAARC Independent Commission on Poverty Alleviation of 1992.&nbsp;</div>
<div>
	&nbsp;</div>
<div>
	Inclusive Growth must mean growth with productive employment by creating opportunities for jobs and by investing in one&rsquo;s human capital development of own self and family members for the jobs --in the context of globalization The primary focus of inclusive growth must be on quality of human capital and so needs inclusion of Private Sector as the engine of growth since they create jobs for employees and opportunities for the self-employed.&nbsp;</div>
<div>
	&nbsp;</div>
<div>
	Planning must be macro, meso and micro, all harmonized strategically. The Macro Plan must project the desired structure of the economy for the next 25 years and the five year plan must be a human resource development plan that addresses the human capital requirements for the perspective economy of the future (say 2035) based on manpower supply and demand projections and plans judiciously integrated with the educational plan that opens avenues for vocational, apprenticeship, technical and technological for the variety of occupations in the national economy and in the global labour markets.&nbsp;</div>
<div>
	&nbsp;</div>
<div>
	In other words, the State will have 5 Five Year Rolling Macro Plans that will be supplemented by Meso Plans to strategically manage education, health, gender, children, youth, old age, disabled, castes and creeds, urbanization, water, energy, ICT, transportation, investment, saving, capital markets, credit flows, exports, imports, taxation, and also corporate governance, entrepreneurship development, R &amp;D; S&amp;T, and monopoly regulation, for example, depending on the number of Ministries to be created. The fewer the Ministries the better. Let us emphasize that these ministries must move towards being a &lsquo;managerial civil service&rsquo; (as happened in East Asia to turn their economies into Tigers) and not continue to function as the colonial &lsquo;administrative civil service&rsquo; mired in red tape and acutely devoid of horizontal communication and coordination.&nbsp;</div>
<div>
	&nbsp;</div>
<div>
	Competition is the name of the game and with it goes merit &ndash;not reservations. Hence private sector must seek to gather the &lsquo;fortune at the bottom of the pyramid&rsquo; as part of their core business strategies. And SMEs and Micro Enterprises and Social Entrepreneurs are vital actors in the formulation and execution of the national and sector plans, as well as the creation of urban clusters and supply chains.&nbsp;</div>
<div>
	&nbsp;</div>
<div>
	Inclusive growth requires that we take in a host of factors and forces like geography, demography, social factors and forces, governance etc and hence has to be participative to require decisions at all levels and all actors &ndash;not just the state guided by the NPC with its very weak basic and applied research capacities coupled with rapid turnover of planners with the political changes. Such NPCs are a waste of national resources and should be converted to an Advisory Economic Council with the Prime Minister Office (PMO), if they are genuinely needed. What is now needed is Integrated Sector Programming and National Performance Budgets governed by a Fiscal Management and Responsibility Act as exists, for example, in South Korea and India.&nbsp;</div>
<div>
	&nbsp;</div>
<div>
	Inclusive Growth is growth that benefits each and every segment of a society with no exclusions whatever. This means when women&rsquo;s work at home they be paid for and their contribution to the GDP be duly recognized and rewarded.&nbsp;</div>
<div>
	&nbsp;</div>
<div>
	Nepal&rsquo;s development plan has to be framed in the perspective of the opportunities from India, China and Bangladesh in due cognizance of our economic structure and development constraints. It requires our policy planners and private sector to be proactively engaged in national and sector dialogues with each other: to set down targets and outcomes for coordinated policy and designing of sector and multi sector programmes aligned with the annual performance budgets. We have to assess feasible economic growth targets for each 5 yr periods first and foremost in consensus with the political parties&mdash;and not be driven by external agents and fanciful notions of the political leadership who are very, very weak in their understanding of economics and finance.&nbsp;</div>
<div>
	&nbsp;</div>
<div>
	We have to set achievable GDP and sector targets and act accordingly to secure them jointly with the local governments, NGOs and private sector Each target must be supported by country-wide action plan and programme. For example (a) eradication of illiteracy (b) raising GDP by 5.5% (c) agri growth at 4.0% (d) inflation down to 7.5% (e) industrial growth by 10% -- devolved to districts with their own targets set locally (f) lower capital output ratio through more efficient planning, choice of foreign aid and eradication of graft and corruption; ICT for better governance (g) gender budget for gender inclusion to name a few development agenda topics.&nbsp;</div>
<div>
	&nbsp;</div>
<div>
	Immense macro economic benefits have accrued from remittances which is now 25% of GDP. It has helped reduce poverty from 42% (1996) to 24% (2012). It has prevented Nepal from economic collapse and stabilized economic growth at the midterm growth rate of around 3.5- 4% between 2005-13.&nbsp;</div>
<div>
	&nbsp;</div>
<div>
	Yes, costs have been borne at the household and individual levels with the pain and suffering of international migration and debts incurred for it. However, one can take advantage from the challenges by planning the remittance economy better so as to empower women head of household and the girl child with the skills to fill in the job vacancies as happened during WWI ad WW II that liberated women once in for all in the West.&nbsp;</div>
<div>
	&nbsp;</div>
<div>
	<img alt="" src="/userfiles/images/cs4.jpg" style="width: 525px; height: 175px;" /></div>
<div>
	&nbsp;</div>
<div>
	<strong>Conclusions&nbsp;</strong></div>
<div>
	&nbsp;</div>
<div>
	South Asian concept of Inclusiveness is this: all growth and development models must be ingrained in our civilizational heritage&mdash;not that of the Greeks, Romans or Christians or Marx and Mao. Inclusiveness should be based on one&rsquo;s culture adapted for internally to achieve modernity and based on pragmatism for the greatest public good. It seeks to be grounded not on a Capitalist or Socialist Society with all its ideological baggage but on a Humane Society where Planet Earth is a Global Village embodied and enriched by pluralistic cultures and cosmopolitan individuals with multiple identities with equal value, as was bestowed upon us by the eternal wisdom of Swami Vivekanada.&nbsp;</div>
<div>
	&nbsp;</div>
<div>
	Inclusive Growth and Development are super structure means to an end that needs to be holistically entrenched with sound social, economic, ecological and political structures that are themselves inclusive. Let us summarize the parameters and their variables here below:&nbsp;</div>
<div>
	&nbsp;</div>
<div>
	(A) Inclusive Society: formalization of CBOs, organization of the poor, social mobilization, preservation and promotion of multiple identity; maximum role for the social organizations; protects and promotes the joint family system rather than the state acting as nanny and nurse and creates a Commonwealth of Plural Societies with various civil society organizations &ndash;and their national federations-- to represent professional, business, religious, gender and cultural interests;&nbsp;</div>
<div>
	&nbsp;</div>
<div>
	(B) Inclusive Economy: access to credit for all; entrepreneurship development; traditional skill development; community ownership of resources; markets that respect consumer and ecological sovereignties;&nbsp;</div>
<div>
	&nbsp;</div>
<div>
	(C) Inclusive Environment: harmonious nature-people relationships in the context of global warming and climate change , and</div>
<div>
	&nbsp;</div>
<div>
	(D) Inclusive Polity: direct democracy; inclusive institutions &ndash;education, health, access to justice; rule of law; community leadership; empowerment of gram panchayats; modernity through local leadership and local culture ; proportional representation of communities and gender in all political parties for inclusive governance and political leadership and political space to duly elected civil society federations to be represented rotationally in the Upper House of Parliament so that short run political interests are countervailed by long-run non political civil society interests.&nbsp;</div>
<div>
	&nbsp;</div>
<div>
	Finally, given all the above parameters and their variables for inclusion there is really no need for an ethnic-based Inclusive State to render justice to all and the next generations. Yes, we need an Inclusive Constitution to not exclude any. Primarily, to ensure the supremacy of the Constitution and the rule of law by having independent institutions to check the abuse of power by the political authority and guarantee accountability, transparency, competition and merit in the body politic for the larger public good.&nbsp;</div>
<div>
	&nbsp;</div>
<div>
	I submit, we do not even need a federal state. Much wiser to devolve responsibility to the 4440 VDC and 75 Districts and Municipalities for dynamic and harmonious Inclusive Growth and Development of an independent and sovereign Nepal with its territorial integrity intact.&nbsp;</div>
<div>
	&nbsp;</div>
<div>
	<em><span style="font-size:11px;">(Rana is Professor South Asian Institute of Management (SAIM) and Former Finance Minister.)</span></em></div>
<div>
	&nbsp;</div>
<div>
	<img alt="" src="/userfiles/images/cs5.jpg" style="width: 525px; height: 175px; margin: 5px 25px;" /></div>
<div>
	&nbsp;</div>',
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			'description' => 'It is a la mode, these days, to speak of ‘inclusive growth’ and ‘inclusive development’. In Nepal’s case, the Maoists have extended it to ‘inclusive State’: and with it the constitutional and political contours of new Nepal are yet unclear—and remain extremely contentions.',
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			'title' => 'Thai - Fam Trip',
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	Thai Airways International Public Company Limited organised the fam trip to honour the top 7 travel agencies in Nepal, on 7 July. The organised trip was for 6 days which included the exploration of &ldquo;The Sanctuary of Truth, Damnern Saduak &amp; Rose Garden, and Dinner Cruise on &ldquo;Loy Nava&rdquo;; the important destinations of Pattaya and Bangkok in Thailand. In addition to this, Amari Orchid Pattaya and Novotel Bangkok Ploenchit Bangkok organised hotel inspection.<br />
	<br />
	<br />
	<br />
	&nbsp;</p>',
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			'title' => 'Feedback July 2013',
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			'content' => '<div>
	&nbsp;</div>
<h2>
	Merger and Acquisition</h2>
<p>
	<span style="font-size: 12px;">The number of banks and financial institutions (BFI) Nepal has, is by no means small for the size of the economy and geography. The central bank&rsquo;s initiative to lower the number of BFIs through mergers is a a quite welcoming attempt. Mergers and acquisitions, if well executed will result into a more effective, efficient and a stronger company.&nbsp;</span></p>
<p>
	At the moment, merger is not a challenge for the financial market but the number of BFIs in the given size of geography and economy definitely is. Large number of BFIs would mean more amounts of capital accumulated in smaller chunks as fixed assets and capital of the banks that could have been invested in other productive areas. So far, we have not seen banks investing in large projects and making long term investments. This would be possible when banks with strong capital base emerge. It is highly unlikely to happen when capital is spread across more than 30 commercial banks. It is always better to have 10 large banks than having 30 small incapable ones. At the moment, number of problematic BFIs is also increasing. Merger and acquisition should ensure merger of two or more companies into one to make a single strong and capable bank. However, so far, we have not seen merger of two commercial banks.&nbsp;</p>
<p>
	It is argued that if the number of commercial banks comes down, they will be involved in carteling. The central bank should keep an eye to prevent such irregularities. But, when two commercial banks merge, one of the foremost impacts is the large capital base. This makes possible to invest in large projects and create a ground for long term investment which is missing at the moment. The development so far in the merger and acquisition is encouraging but I think it should reach the next level soon.&nbsp;</p>
<p>
	<em>- Sambida Sharma, Balkumari</em></p>
<hr />
<p>
	<strong>Summer Market Trends&nbsp;</strong></p>
<p>
	As the writer argues in &lsquo;Summer Market 2013&rsquo; (Vol. 12 Issue 8 of New Business Age), growing urbanisation and popularity of nuclear families have played their part in giving certain products a boost in the market. However, I believe that these factors are not the only contributors. I think that purchasing power plays a more important role in determining consumption pattern. Fuelled by remittances, purchasing power has been on the rise in Nepal. This has driven up consumption.&nbsp;</p>
<p>
	<em>- Bhimsen Bharati, Kapan</em></p>
<hr />
<p>
	<strong>HELVETAS Partner in Sustainable Development&nbsp;</strong></p>
<p>
	I went through the Development- Partner story about HELVETAS in June 2013 issue. The story revolves around the positive work of the organisation. What it is doing for the benefits of the Nepali people is really encouraging. However, the article failed to provide details about more of its activities. I would have loved to know more about the projects of HELVETAS in detail. For example, about their target areas and people and the extent of the benefits it has created and also the negative impacts it may have caused. It would make the story a more interesting read if views of beneficiaries too were incorporated.&nbsp;</p>
<p>
	<em>- Sushil Chhetri, Budhanilkantha</em></p>
<hr />
<p>
	<strong>Bit of Entertainment Business&nbsp;</strong></p>
<p>
	I have been reading your magazine regularly and I appreciate your efforts to create a business-literate readership. It is good to see that your media is covering different issues related to business and economy. It would also be appreciable if you also could write about entertainment business. I think that would make the magazine more fascinating to read, and will attract young readers too.&nbsp;</p>
<p>
	<em>- Santosh Dhungana, Chabahil</em></p>
<hr />
<p>
	<strong>Century of Indian Cinema&nbsp;</strong></p>
<p>
	When the Indian cinema was celebrating its centenary, it had already collected non-Indian audience base from a number of countries. The Indian cinema or the movie industry popularly known as Bollywood is one of the largest entertainment industries in terms of number of movies produced every year. Though it may have surpassed Hollywood&rsquo;s annual production, it is yet to equalise in terms of revenues collected. From the South Asian perspective, small entertainment industries like that of Nepal could learn a lot from the burgeoning industry next door. But, most of the countries in South Asia have put a ban on Indian cinemas for a long time. Even Nepal had made numerous attempts in the past to ban Hindi cinema. But in absence of quality cinemas produced locally and the access to foreign movies through the satellite televisions, Internet and pirated cheap DVDs, the attempt always remained a failed one as the viewers were never ready for the ban to be imposed. Similar was the situation in other neighbouring countries. There is a huge lack of creativity in the local cinema industry, and instead of getting inspired from the neighbouring industry- the Nepali Film industry has been limited to copying Bollywood, that too badly. There is a lot to learn from a century long experience of Indian cinema and adopt the technology and techniques of storytelling they use rather than merely copying some scenes and dialogues. The neighbouring countries can learn from Indian movie industry the techniques to find a space among global audience.&nbsp;</p>
<p>
	&nbsp;</p>
<p>
	-<em> Prabhat Dhakal, New Baneshwor, Kathmandu</em></p>
<div>
	<div>
		<hr />
		<span style="font-size:11px;"><em>Mail your feedback to P O Box 14197, Kathmandu or Email to <a href="mailto:editor@newbusinessage.com?subject=Re%3AFeedback%20July%202013">editor@newbusinessage.com</a></em></span></div>
	<div>
		<span style="font-size:11px;"><em>The mail will be edited for the purpose of clarity and brevity.</em></span>
		<hr />
	</div>
</div>
<div>
	&nbsp;</div>',
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FOREX

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)

Bullion

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

Petroleum

Petrol	1 Liter	106.00
Diesel	1 Liter	95.00
Kerosene	1 Liter	95.00
LP Gas	1 Cylinder	1375.00