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			'title' => 'Gold Price Slides',
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	<span style="font-size: 12px;">Gold tumbled 3 percent on Friday after positive U.S. jobs data sent the dollar rallying and rekindled worries the Federal Reserve could be tempted to scale back its monetary stimulus later this year. The spot price of bullion dropped by as much as 3.3 percent to a session low of $1,207.50 an ounce. U.S. gold futures for August settled down 3.1 percent at 1,212.70 an ounce. (Agency)</span></p>
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			'title' => 'US Posts Upbeat Jobs Data',
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	<span style="font-size: 12px;">US employers added 195,000 jobs in June and hiring was more robust in the two previous months than earlier estimated. The gains raise hopes for a stronger economy in the second half of 2013.The Labor Department said Friday that the economy also added 20,000 more jobs in May and 50,000 more in April than initially reported. The unemployment rate stayed at 7.6 percent, but for a good reason: More people started looking for work. (Agency)</span></p>
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			'title' => 'WB Hopes To Continue Egypt Programs',
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	<span style="font-size: 12px;">The World Bank hopes to continue its programs in Egypt following the military ousting of the country’s first democratically elected leader, bank president Jim Yong Kim told reporters on Thursday during a visit to Chile.The bank, which Kim said has a $4.7 billion loan program for Egypt, is still trying to understand the situation in the country, he added. (Agency)</span></p>',
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	<span style="font-size: 12px;">Three former executives of Olympus have been given suspended jail terms for their roles in an accounting scandal. Former chairman Tsuyoshi Kikukawa and executives Hisashi Mori and Hideo Yamada pleaded guilty last year to charges of falsifying accounts to cover up losses of $1.7bn (£1.1bn).Mr Kikukawa and Mr Yamada were given three-year sentences and Mr Mori a two-and-a-half-year sentence. (BBC)</span></p>
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			'description' => 'Three former executives of Olympus have been given suspended jail terms for their roles in an accounting scandal.',
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			'title' => 'China Becomes World’s 2nd Largest Retail Market',
			'sub_title' => '',
			'summary' => null,
			'content' => '<p class="MsoNormal">
	<span style="font-size:9.0pt;line-height:115%;mso-bidi-font-family:
&quot;Myriad Pro&quot;;color:#221E1F">China becomes the world’s second largest retail market after the United States as its retail trade volume doubled to 21 trillion yuan (US$3.44 trillion) in 2012, from 10.8 trillion (US$1.77 trillion) in 2008, according to the latest data released by the Ministry of Commerce on Thursday. (Xinhua)<o:p></o:p></span></p>',
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			'description' => 'China becomes the world’s second largest retail market after the United States',
			'sortorder' => '1196',
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			'title' => '‘Women Are Sincere In Business’',
			'sub_title' => '',
			'summary' => null,
			'content' => '<p>
	<span style="font-size: 12px;">Astha Thapa Pande is the Executive Director of TEWA. Pande talked with Suraksha Adhikari of The Corporate regarding the philosophies her organization has adopted and current scenario of women entrepreneurship in Nepal. <strong>Excerpts:</strong></span></p>
<p>
	<strong>Your organisation claims it is focusing on self-reliant development. Would you please elaborate?&nbsp;</strong></p>
<div>
	<img alt="Astha Thapa Pande,Executive Director of TEWA." height="223" src="https://lh6.googleusercontent.com/-NzNX38m46j0/UdqmjtKBAcI/AAAAAAAAA-U/aBRL4mpnMWo/s489/astha.jpg" style="float: right; margin: 0px 0px 0px 10px;" width="215" /></div>
<p>
	Tewa was founded in 1995 in a context where development was entirely driven by foreign aid. New organizations were sprouting but many were allowing their organizational missions to be dictated by what funds were available. At such a time, Tewa was set up, not just as an organization, but as an idea that self-reliance is possible, that we can and must partake in our own development, and that resources can be mobilized locally. Tewa has shown that this can be done, and Nepalis have donated both their money and their time to the cause of women these past nearly two decades since Tewa was established.&nbsp;</p>
<p>
	In today’s context Tewa feels that there is much more thinking and doing to be done with regards to self-reliant development and Tewa is striving yet again to set an example through its physical endowment (land and building) project. The Tewa Centre, which is now nearing completion is a revenue generating centre that will ultimately make Tewa, the women’s fund, far more self-reliant with its focus on raising funds primarily to give grants for women’s rights and empowerment.&nbsp;</p>
<p>
	<strong>So, your organization has decided to not be donor dependent. How difficult is it to execute such decision?&nbsp;</strong></p>
<p>
	I would approach donor dependence as a concept with caution, so there are no misunderstandings. Tewa is not opposed to donors, but wants to encourage organisations to set their own mission and vision, principles and values and not be swayed or change simply for the sake of funding.</p>
<p>
	<strong>What difficulties are women facing regarding entrepreneurship in Nepal?&nbsp;</strong></p>
<p>
	Most of the females in Nepal are uneducated as a result of which their decisions are not given priority in the family. Similarly, the main reason of Nepali women lagging behind in entrepreneurship is poor access to finance. The landed assets are not owned by them because of which they don’t get opportunity to invest in the sector they want to. Though their level has increased in terms of economy and business, there is still much to improve.</p>
<p>
	<strong>How do you evaluate the present status of women entrepreneurship in Nepal?&nbsp;</strong></p>
<p>
	Women are seen increasing their independency level and seeking for self employment. As far as we see, women are capable of being successful entrepreneurs as they are sincere in their business. They are being educated which makes them able to use that available finance in business. Women are also introducing themselves as social entrepreneurs as they come up with their ideas and form a group in a society to provide employment opportunities to other females.</p>
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			'description' => 'Astha Thapa Pande is the Executive Director of TEWA. Pande talked with Suraksha Adhikari of The Corporate regarding the philosophies her organization has adopted and current scenario of women entrepreneurship in Nepal.',
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			'id' => '1332',
			'article_category_id' => '138',
			'title' => 'MDGs Are Within Reach : Report',
			'sub_title' => '',
			'summary' => null,
			'content' => '<p>
	<span style="font-size: 12px;">Thirteen years after the world set the Millennium Development Goals (MDGs), countries have made big strides to meet the eight anti-poverty targets by their 2015 deadline, says a United Nations report released last Monday, which stresses that the unmet goals are still within reach, but nations need to step up their efforts to achieve them.&nbsp;</span></p>
<p>
	Agreed upon by world leaders at a UN summit in 2000, the MDGs set specific targets on poverty alleviation, education, gender equality, child and maternal health, environmental stability, HIV/AIDS and malaria reduction, and a global partnership for development.&nbsp;</p>
<p>
	The Millennium Development Goals Report 2013 shows how the combined actions of governments, civil society and the private sector have made substantial progress in meeting many of the targets, while also pointing out which areas are falling behind and require immediate attention.&nbsp;</p>
<p>
	The targets that have already been met include halving the number of people living in extreme poverty and providing more than two billion people with access to improved sources of drinking water.&nbsp;</p>
<p>
	Countries have also made great strides on health targets, and are within close reach of achieving them by 2015. These include reducing the mortality rates from malaria and tuberculosis and stopping HIV infections. Other areas where progress has been significant include the reduction of people suffering from undernourishment and the decline of the proportion of slum dwellers in cities.&nbsp;</p>
<p>
	The report also states that the global economic crisis has left millions unemployed, and has reduced the amount of development aid for those countries that are most in need. In spite of these developments, the report urges sustained momentum, noting that countries will have to build on MDG achievements when they decide on a post-2015 agenda.</p>
<table border="0" cellpadding="25" width="99%">
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		<tr>
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				<p>
					<strong>‘South Asia on Track to Achieve Targets’&nbsp;</strong></p>
				<p>
					<span style="font-size: 12px;">According to the report, South Asia as a whole is on track for nine MDG indicators, Sri Lanka is on track for 15 indicators and outperforms the sub-region. The report also said extreme poverty rates have been halved for Eastern Asia, South-Eastern Asia and Southern Asia, five years ahead of the deadline, though with the exception of India. The report found that South-Eastern Asia reached hunger reduction target ahead of 2015 deadline. However, South Asia is lagging behind. As per the report, in South Asia considerable progress has been made in primary school enrolment that increased to 93 per cent from 78 per cent during 2011 and 2000. It said the region saw the greatest increases in youth literacy rates between 1990 and 2011 from 60 to 81 per cent.</span></p>
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<p>
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			'description' => 'Thirteen years after the world set the Millennium Development Goals (MDGs), countries have made big strides to meet the eight anti-poverty targets by their 2015 deadline',
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			'id' => '1331',
			'article_category_id' => '137',
			'title' => 'India Eases Power Import',
			'sub_title' => '',
			'summary' => null,
			'content' => '<p>
	<span style="font-size: 12px;">In a significant move, the Central Government of India has decided to free the import of electricity. It has now been decided to allow import of power without the need for authorisation from the central government, according to a news report given by Business Line Daily. The move to “free’’ import of electricity was announced through a notification by India’s Union Ministry of Commerce and Industry on Friday evening. The “freeing of import’’ is done through an amendment in the import policy of electrical energy. The move comes even as the country is facing severe power shortage. “Import of electrical energy will not require authorisation,” Director General of Foreign Trade (DGFT) said in a notification. It said that the “import policy of electrical energy is revised from ‘restricted’ to ‘free’.”</span></p>
<p>
	<strong>Gross generation&nbsp;</strong></p>
<p>
	<img alt="India Eases Power Import" height="147" src="https://lh6.googleusercontent.com/-Z8RB3jZPNz4/UdqmleX6j6I/AAAAAAAAA-w/FB6L_s8sXqk/s543/power.jpg" style="float: left; margin: 0px 10px 0px 0px;" width="197" /></p>
<p>
	The gross electricity generation in India from various conventional energy sources during April 2012-January 2013 was 7,62,7668 million units, as against the target of 7,71,866 million units, says a report by Indian news agency PTI. This generation is mainly from thermal, hydro and nuclear sources and import of hydro power from Bhutan during 2012- 13. Nuclear power registered a generation of 27,450 million units as compared to the target of 35,200 million units. The hydro power generation during the period was 99,071 million units as against the target of 1,22,045 million units. India imported 4,710 million units of hydro power from Bhutan against the target of 5,480 million units.</p>
<table border="0" cellpadding="25" width="99%">
	<tbody>
		<tr>
			<td bgcolor="#E5E4E2">
				<p>
					<strong><span style="font-size:14px;">‘Big Opportunity for Nepal’&nbsp;</span></strong></p>
				<p>
					The Nepali private power producers welcomed the Indian government’s decision as a ‘big opportunity’. ‘Indian government decision is very supportive,’ says Gyanendra Lal Pradhan, Chairman of the Energy Committee of Federation of Nepalese Chambers of Commerce and Industry (FNCCI). The Nepali power producers have been lobbying for electricity import into India. ‘The joint team of FNCCI and Confederation of Indian Industry (CII) has long been reiterating this issue,’ Pradhan mentioned.&nbsp;</p>
				<p>
					The export of electricity to India is seen as one of the biggest trading potential of Nepal. Nepal is expected to enjoy surplus energy after the completion of ongoing hydle projects across the country by 2017. But, to benefit from this opportunity to export power to India, the various hurdles caused by political uncertainty and absence of investment friendly environment in Nepal need to be removed. The lack of nationwide power transmission network is also blamed as another hindrance to electricity export to India. ‘A clear national policy is needed to encourage and facilitate the power producers,’ Pradhan said. According to him, establishment of power trading company based on public-private-partnership model could pave the way for exporting the surplus electricity. ‘Similarly, the 30 year old existing policy on transmission line needs to be revised as well,’ he added. Pradhan also suggested de-regulation of power sector as different rules and regulations weigh on the development of new projects.</p>
				<div>
					 </div>
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			'description' => 'In a significant move, the Central Government of India has decided to free the import of electricity.',
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	(int) 8 => array(
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			'id' => '1330',
			'article_category_id' => '135',
			'title' => 'Can The New Government Change Any Policy?',
			'sub_title' => '',
			'summary' => null,
			'content' => '<p style="">
	<font face="arial, helvetica, sans-serif">The government is going full swing in preparation to bring out the government budget for the fiscal year that starts on July 16. In this process, the government is also preparing to change some policies. However, there are views that argue that as this government’s mandate is only to hold the coming elections, it must not change any of the existing policies. The Corporate talked with some experts about the issue. Excerpts:</font></p>
<p style="">
	 </p>
<p>
	<span style="font-size:12px;"><span style="font-family: arial, helvetica, sans-serif;"><strong><img alt="Dr Chiranjibi Nepal,Principal Advisor,Ministry of Finance" height="154" src="https://lh4.googleusercontent.com/-tbX4iUnBeMI/UdqSwI79ZHI/AAAAAAAAA9Q/WbppY81OG8c/s154/Dr%2520Chiranjibi%2520Nepal.jpg" style="float: left; margin: 0px 10px 0px 0px;" width="133" /></strong></span></span></p>
<p>
	<font face="arial, helvetica, sans-serif"><b>Dr Chiranjibi Nepal&nbsp;</b></font></p>
<p>
	<font face="arial, helvetica, sans-serif">Principal Advisor&nbsp;</font></p>
<p>
	<font face="arial, helvetica, sans-serif">Ministry of Finance&nbsp;</font></p>
<p>
	<font face="arial, helvetica, sans-serif">The present government can definitely change the existing policies as required and bring new programmes. The 25-point agreement between the major political parties while appointing this government has cleared the way to introduce budget by this government with necessary changes in policies. It is very important to bring budget in time or else the economic growth rate will be hampered. The government has set the target of 7 per cent economic growth by 2015 and it is possible only if the existing government can change some policies as required to expedite capital expenditure. I think, major political parties agree on this.</font></p>
<p style="">
	<span style="font-size:12px;"><span style="font-family: arial, helvetica, sans-serif;"><br />
	</span></span></p>
<p style="">
	 </p>
<p>
	<span style="font-size:12px;"><span style="font-family: arial, helvetica, sans-serif;"><strong><img alt="Dr Chandra Mani Adhikari,Economist" height="154" src="https://lh3.googleusercontent.com/-D4KjA3oW-Sg/UdqSwHmogLI/AAAAAAAAA9I/HrJV-OS51jU/s291/Dr%2520Chandra%2520Mani.jpg" style="float: left; margin: 0px 10px 0px 0px;" width="133" /></strong></span></span></p>
<p class="Pa18" style="">
	<span style="font-size:12px;"><span style="font-family: arial, helvetica, sans-serif;"><strong><span style="color: rgb(34, 30, 31);">Dr Chandra Mani Adhikari<span class="Apple-tab-span" style="white-space: pre;"> </span></span></strong></span></span></p>
<p class="Pa18">
	<font color="#221e1f" face="arial, helvetica, sans-serif">Economist&nbsp;</font></p>
<p class="Pa18">
	<font color="#221e1f" face="arial, helvetica, sans-serif">In my opinion, this government cannot change the existing policies. The government should bring full budget to ensure effective expenditure planning in the coming fiscal year. The government, however, should not be ambitious and bring the budget in a manner that an elected government does. I think the government should take care of at least three issues. It should not introduce new programmes, it should not change policies and should not initiate big projects. Similarly, the government should not make the size of budget too large. In the revenue front, government cannot change the existing revenue policy but it can change tax rates, if needed.</font></p>
<p class="Pa18" style="">
	<span style="font-size:12px;"><span style="font-family: arial, helvetica, sans-serif;"><span style="color: rgb(34, 30, 31);"><br />
	</span></span></span></p>
<p class="Pa18" style="">
	<span style="font-size:12px;"><span style="font-family: arial, helvetica, sans-serif;"><br />
	</span></span></p>
<p style="">
	 </p>
<p>
	<span style="font-size:12px;"><span style="font-family: arial, helvetica, sans-serif;"><strong><img alt="Hariraj Khewa Limbu,Former Minister of State for Finance" height="154" src="https://lh6.googleusercontent.com/-W0eUyWktWIE/UdqSwN4jIaI/AAAAAAAAA9U/c8kYEHsiZ6s/s287/Hariraj%2520Khewa%2520Limbu.jpg" style="float: left; margin: 0px 10px 0px 0px;" width="133" /></strong></span></span></p>
<p style="">
	<span style="font-size:12px;"><span style="font-family: arial, helvetica, sans-serif;"><strong>Hariraj Khewa Limbu,</strong></span></span></p>
<p>
	<font face="arial, helvetica, sans-serif">Former Minister of State for Finance&nbsp;</font></p>
<p>
	<font face="arial, helvetica, sans-serif">This government does not have the right to change the existing policies, and it should adhere to the ones adopted by the Baburam Bhattarai-led government. The government should solely focus on the Constituent Assembly elections. The primary concern for now is to form a good Constituent Assembly. This government’s only responsibility to hold election. It does not have any right to bring new programmes and policies. Moreover, as the focus should be on the elections, the government does not have time to effectively formulate new policies and monitor them, which might lead to corruption. There will be no mechanism to check corrupt activities in the absence of an elected body.</font></p>
<div>
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			'description' => 'The government is going full swing in preparation to bring out the government budget for the fiscal year that starts on July 16.',
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			'id' => '1329',
			'article_category_id' => '136',
			'title' => 'Target 7 Percent Growth',
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				<p>
					 </p>
				<p>
					<strong><img alt="Anil Gyawali
CEO,Nabil Bank" height="150" src="https://lh6.googleusercontent.com/-lC0nR4o0S24/UdqSxH0H0QI/AAAAAAAAA9c/xQzARnETuuo/s290/anil.jpg" style="float: left; margin: 0px 10px 0px 0px;" width="125" /></strong></p>
				<p>
					<strong>Anil Gyawali &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp;&nbsp;</strong><span style="font-size: 12px;">CEO &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp;</span><span style="font-size: 12px;">Nabil Bank</span></p>
				<p>
					 </p>
				<p>
					To attain economic growth, the government should make proper use of opportunities and promptly address the challenges. Stability in policies is most important for Nepal now. Frequent changes in government will never help attract investment. There are three major areas that need to be prioritised: agriculture, manufacturing and service-oriented businesses. Recently, Nepal Rastra Bank (NRB) came up with a policy to make it mandatory for banks to invest 10 per cent of their money in agricultural sector. This can be done for tourism as well.</p>
				<p>
					 </p>
				<p>
					 </p>
			</td>
			<td valign="top" width="50%">
				<p>
					<strong><img alt="Dharma Raj Pandey,President,Nepal Microfinance Bankers Association
(NMBA)" height="150" src="https://lh6.googleusercontent.com/-sqeT-jquh2A/UdqSyI7vQGI/AAAAAAAAA9k/5jT3-mCWtF8/s285/dharma.jpg" style="float: left; margin: 0px 10px 0px 0px;" width="125" /><br />
					</strong></p>
				<p>
					<strong>Dharma Raj Pandey &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp;&nbsp;</strong><span style="font-size: 12px;">President &nbsp;&nbsp;</span><strong style="font-size: 12px;">&nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp;</strong><span style="font-size: 12px;">Nepal Microfinance Bankers Association &nbsp;</span><span style="font-size: 12px;">&nbsp;</span><span style="font-size: 12px;">&nbsp;</span><span style="font-size: 12px;">(NMBA)</span><strong style="font-size: 12px;">&nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp;&nbsp;</strong></p>
				<p>
					<span style="font-size: 12px;">Agriculture holds the key to achieving 7 per cent economic growths in Nepal. There are a few steps that the government could take to modernise agriculture. First of all, it should commission research on ways to capitalise on agricultural products. Secondly, modern technology should be made accessible to the farmers. After doing that, new industries that use agro products as raw materials can be set up. This ultimately will contribute towards economic development. In addition to this, the government should invest in infrastructure, especially in transportation. Similarly, foreign investment needs to be sought in areas of hydropower and tourism.</span><strong style="font-size: 12px;">&nbsp;&nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp;&nbsp;</strong><span style="font-size: 12px;">&nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp;&nbsp;</span><span style="font-size: 12px;">&nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp;&nbsp;</span></p>
				<div>
					 </div>
			</td>
		</tr>
	</tbody>
</table>
<p>
	 </p>',
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			'description' => 'To attain economic growth, the government should make proper use of opportunities and promptly address the challenges.',
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	(int) 10 => array(
		'Article' => array(
			'id' => '1328',
			'article_category_id' => '134',
			'title' => '‘No To Another Merger Right Now’',
			'sub_title' => '',
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			'content' => '<table align="right" border="0" cellpadding="1" cellspacing="1">
	<tbody>
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			<td>
				<img alt="Tulasi R. Gautam,CEO,MachhapuchchhreBank Limited" height="209" src="https://lh4.googleusercontent.com/-M_eOSiFZvNc/UdqK3UNMT2I/AAAAAAAAA8o/wwW6sZVBcN0/s512/Tulasiu.jpg" width="200" /></td>
		</tr>
		<tr>
			<td style="text-align: center;">
				<b>Tulasi R. Gautam<br />
				</b>CEO<br />
				Machhapuchchhre Bank Limited</td>
		</tr>
	</tbody>
</table>
<p>
	<strong>Tulasi R. Gautam</strong>, CEO, Machhapuchchhre Bank Limited (with which Standard Finance Ltd was merged on 9th July 2012) talks to The Corporate’s Yagya Banjade and Sweta Sharma about the achievements of his bank and the overall situation of commercial banks in Nepal. <strong>Excerpts:</strong></p>
<p>
	<strong>It has been a year since the merger of Standard Finance into Machhapuchchhre Bank. How has that merger helped?&nbsp;</strong></p>
<p>
	It was the largest merger of two independent organizations in Nepal till recently. And the results to date are good. We received quite good response from the market. All the assimilation was done before I joined the bank. The most encouraging point is the branch network. We now have 54 branches with one extension counter and 65 ATMs covering 29 districts. Talking about business, the loan rate was 16 billion and today it is 21 billion. I call this ‘an average growth’ in the context of our banking sector. We have more than 350,000 customers. According to our latest data (1st July 2013), we have 21.16 billion loan outstanding, 25.51 billion in deposits and the CDC ratio is 76.25 per cent. We have paid up capital of 2.47 billion. Considering all this, I can say we are doing quite well.</p>
<p>
	<strong>If Nepal Rastra Bank (NRB) really asks banks to increase the paid up capital further, what will be the situation of your bank?&nbsp;</strong></p>
<p>
	NRB will definitely give a time frame to banks for increasing the paid up capital. Some banks may be able to generate the capital on their own. Those who cannot will opt for merger.&nbsp;</p>
<p>
	<strong>The financial condition of your bank does not seem to have improved very much after the merger. What is the reason?&nbsp;</strong></p>
<p>
	It is not necessary that after merger the financial condition should improve drastically. The merger adds figures on some parameters and that definitely has helped uplift the financial condition of the bank. The board of directors and the management team contribute equally to uplift the situation of a bank.&nbsp;</p>
<p>
	<strong>In the third quarter of current fiscal year, your bank’s bad debt was 2.73 per cent which is considered high. What do you think about it?&nbsp;</strong></p>
<p>
	Yes, this year we are looking for improvements. After merger, there have cropped up several issues that need to be settled and we are working in managing that. I believe that a bad debt of 2.73 per cent is quite high and in next year we will reduce it to 1.5 per cent.</p>
<p>
	<strong>You brought into some staff from Nepal SBI into Machhapuchchhre in a number of key positions. Are more people coming?&nbsp;</strong></p>
<p>
	There were enough staffs when I entered this bank. But for few key posts we needed some new employees. So four people from Nepal SBI and one from Sanima came and joined us. But it was not pre-planned.&nbsp;</p>
<p>
	<strong>Staffs that were earlier in Standard Finance are working in Machhapuchchhre two levels below where they were in Standard Finance. What has been the repercussion of that demotion?&nbsp;</strong></p>
<p>
	It cannot be called a demotion. We can call it ‘adjustment of the post’ and that adjustment was at maximum to two levels considering the profiles of the individuals. None of the staff have left the organization due to this reason. This issue was being settled in a participatory manner among staffs themselves before I was appointed.</p>
<p>
	<strong>After the merger there is generally chaos among the staffs. How did you manage it?&nbsp;</strong></p>
<p>
	When two organizations merge, the work culture also gets merged and there will be problems in hierarchy. The major difference is in the system as both organizations have their own system of working. In this situation, there should be high level of understanding among staffs. In my view, if the merger is between organization of similar level then there will not be any problem except in the CEO level. Next point I learnt is that if the merger is going to happen, staffs will feel some sort of insecurity about their job. But a proper communication will remove that feeling of insecurity. Transparency in the system will help.</p>
<p>
	<strong>How do you evaluate the present situation of commercial banks?&nbsp;</strong></p>
<p>
	Some banks which have huge investments in real estate are facing some problems in loan recovery. Few banks which solely focus on banking are doing good. Overall, in my view, the situation of commercial banks is quite good.&nbsp;</p>
<p>
	<strong>What are the existing problems in the banking sector?&nbsp;</strong></p>
<p>
	The first and foremost problem is our unstable economy. The liquidity is highly fluctuating and unpredictable. If the government budget comes in time, things might go smoothly for banks as well. We need new avenues for lending with new business coming in the market.</p>
<p>
	<strong>It is said that banking sector suffers lack of skilled manpower. Is it true?&nbsp;</strong></p>
<p>
	It is not like that. We are doing a good business for long. That would not have been possible without skilled manpower. For past three years, new commercial banks have not started as NRB has stopped giving license to new commercial banks. This shows that till now there are skilled people who are operating banks quite well.&nbsp;</p>
<p>
	<strong>These days the operational risks are getting high in banking sector. How do you consider this?&nbsp;</strong></p>
<p>
	It is due to some promoters working for their own benefit. Next reason could be reckless lending. The software and system are also responsible for increase in the operational risk.&nbsp;</p>
<p>
	<strong>Nepal Rastra Bank has drawn the line between bankers and businessmen. What are your comments on this?&nbsp;</strong></p>
<p>
	It would have been better if in the first place businessmen were not allowed to enter banking sector at all. Initially they opened the door and now they want the businessmen out. This has created some discomfort but overall this directive from NRB might be for the good of banking sector though it is yet to be finalized.</p>
<p>
	<strong>What is the likelihood of further mergers with Machhapuchchhre as one of the parties?&nbsp;</strong></p>
<p>
	Some developmental banks and financial institutions have approached us with merger proposals. But as we are just fine tuning the organization after the merger of Standard Finance into us, we are not moving towards another merger for now.</p>
<div>
	 </div>
<table align="right" border="0" cellpadding="1" cellspacing="1">
</table>
<p>
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			'description' => 'Tulasi R. Gautam, CEO, Machhapuchchhre Bank Limited (with which Standard Finance Ltd was merged on 9th July 2012) talks to The Corporate’s Yagya Banjade and Sweta Sharma about the achievements of his bank and the overall situation of commercial banks in Nepal.',
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			'id' => '1327',
			'article_category_id' => '122',
			'title' => 'DJPL: The Promise Of Quality Assurance',
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			'content' => '<p>
	<strong style="font-size: 12px;">--By Gaurav Aryal</strong></p>
<p>
	Deurali Janta Pharmaceuticals Pvt Ltd (DJPL), a leading pharmaceutical company inaugurated Nirog, a primary care division of the company in the last week of June, 2013. Hari Bhakta Sharma, Executive Director of DJPL said that the new division has been set-up with an aim of import substitution of the drugs mostly in such segments as muscular inflammation, pain and emergency management. He also said that the Nirog division’s primary objective is to supply high quality drugs to Nepalis while the company exploits its capacity to explore opportunities in the international markets.</p>
<table align="right" border="0" cellpadding="1" cellspacing="1">
	<tbody>
		<tr>
			<td>
				<img alt="Hari Bhakta Sharma,Executive Director,Deurali Janta Pharmaceuticals Pvt Ltd" height="292" src="https://lh4.googleusercontent.com/-_sN1XhOnF5Q/UdqBJ6WyYMI/AAAAAAAAA7w/Br7QQfKeL3Q/s512/1212121.jpg" width="250" /></td>
		</tr>
		<tr>
			<td style="text-align: center;">
				<b>Hari Bhakta Sharma,<br />
				</b>Executive Director<br />
				Deurali Janta Pharmaceuticals Pvt Ltd</td>
		</tr>
	</tbody>
</table>
<p>
	Sharma explained that drugs mostly in these three segments are being imported heavily. Apart from seeking ways for import substitution, he said, “We are looking for exporting our products to foreign markets while we build our capacity.”&nbsp;</p>
<p>
	<span style="font-size: 12px;">According to Sharma, this new division was established as a part of the company’s objective to produce medicines that help promote healthier living and prevent people from catching diseases. The company is dedicated to stabilise this newly established division before coming up with a new venture. DJPL has been launching a new division in every two to three years. Sharma said, “Pharmaceutical industry is all about a dynamic life science that is changing so fast that today’s technology becomes obsolete next day. To boost business competitiveness and mitigate product lifecycle, we need to do something new.” At the same time, companies like DJPL are realising the responsibility to substitute huge imports of drugs.</span></p>
<p>
	<strong>Export Dilemma&nbsp;</strong></p>
<p>
	The export of drugs is being talked for a couple of years, but it is yet to be realised. “There are markets where we cannot compete. Also, at times the cost of production and cost of quality compliance is greater than the rate of return. In such markets, we drop the idea of export,” he said, adding, “In those markets where we want to compete, there are so much of regulatory barriers, and it is painfully time taking to meet all the requirements.” He said that DJPL and some other pharmaceutical companies are in a process of meeting all the requirements. According to Sharma, unlike in any other commodity, every pharma product and every production unit must be registered in the target country before starting exports there because drugs are considered highly sensitive as it is directly related to the human health. Countries have strict policy to regulate drugs import. Moreover, Sharma said that the Nepali companies are becoming extra cautious before making any export commitments because of the unfavourable environment in Nepal to run manufacturing bases.</p>
<p>
	<strong>Product Diversification&nbsp;</strong></p>
<p>
	The DJPL has been adding new plants and divisions to come up with a new range of products. According to Sharma, the company has always been in a drive to product development. Apart from having a strong foothold in the d o m e s t i c market, the company is searching for favourable overseas markets. Therefore, every move of the company is targeted towards product development, capacity building and boosting competitiveness.&nbsp;</p>
<p>
	<img alt="Product Diversification DJPL" height="380" hspace="45" src="https://lh6.googleusercontent.com/-WeIbYRuJ6Ds/UdqACYgmqgI/AAAAAAAAA7A/V4pM4d3MsrU/s600/DSC06828.jpg" width="500" /></p>
<p>
	Sharma revealed that the company is planning to work also on the natural products. The DJPL is planning to establish a new plant in Chitwan and has hired a consultant for technical and physical infrastructure development required for starting the operation. But he also hinted that it would almost take a decade before this unit starts its production. “We have talked a lot about Nepal’s richness on herbs and medicinal plants. The government is seen ineffective in materialising Nepal’s richness on natural products. So, it is us, the private sector who must be doing something there,” he explained. Sharma further added that the company is working on it and DJPL is always committed to quality assurance as it is related with medicines and human health.&nbsp;</p>
<p>
	Similarly, the company had come up with Aarogyam, a derma care division on August 2011. This division manufactures products especially for skin, eye and dental diseases. The company had set up this manufacturing unit on the occasion of DJPL’s 20th anniversary with an investment of Rs 50 million. This unit produces antifungal, antibacterial and anti-inflammatory products for treatment of skin diseases among others. Clomigen, Solbet, Conaz and Flutipro are some of the ointments manufactured by Aarogyam.</p>
<p>
	The company is focused on manufacturing drugs related with infections, cardiology, women’s health, and infectious diseases. The company has been in the quest to develop and produce drugs popularly in demand also in the international market. Sharma believes, “Our investment in technologies and products will allow us expand to new therapeutic segments necessary for healthier living of people.”</p>
<p>
	<strong>Market Presence&nbsp;</strong></p>
<p>
	Having over two decades of presence in the Nepali market, DJPL has established itself as a leading pharmaceutical company. The company claims that it has achieved this position because of its belief and commitment to quality products with affordability, use of cutting edge technology and a promise to offer better service to customers. DJPL has become a part of healing with its range of 220 products.&nbsp;</p>
<p>
	<img alt="Market Presence DJPL" height="328" hspace="45" src="https://lh4.googleusercontent.com/-daVArC3YRVc/UdqFiVPgoII/AAAAAAAAA8M/No9yrqm5mPE/s600/AHU Room Photo (Copy).jpg" width="500" /></p>
<p>
	Sharma claimed that DJPL holds five per cent share of the total size of pharmaceutical market of Nepal. There are 45 Nepali companies and 258 foreign companies present in the Nepali market. Similarly, the size of the Nepali pharmaceutical market is estimated to be of Rs 16.7 billion. Likewise the pharmaceutical industry of Nepal has created a direct employment for 9,650 people, according to Quantification Study 2011 on Pharmaceutical Markets.&nbsp;</p>
<p>
	The company is using 60 per cent of its installed production capacity. DJPL has plans to utilise rest of the capacities to produce life saving medicines related to ailments of the heart, kidney, nerve and psychological complexities. The company says that it is conducting studies to understand the market feasibility so that it can utilise its 40 per cent production capacity that is not in use at the moment.</p>
<p>
	<strong>Quality Assurance&nbsp;</strong></p>
<p>
	DJPL has a total investment of Rs 870 million. According to Sharma, the company aims to produce best quality medicines at affordable cost. The use of ultra modern technology is also part of the company’s goals and also a contribution to Nepal’s industrial and economic development. “Quality assurance is the topmost priority of DJPL. Our Quality Assurance Department works independently with the support from Quality Control Department that has sophisticated technology along with highly qualified and trained personnel,” Sharma said. It also operates a full-fledged microbiological testing facility, which is in line with international standards.</p>
<p>
	<img alt="Quality Assurance DJPL" height="378" hspace="45" src="https://lh5.googleusercontent.com/-SpXVeXlb0gU/UdqACV-htDI/AAAAAAAAA7Q/nsWfVy86KKs/s600/DSC06817.jpg" width="500" /></p>
<p>
	Sharma claimed that DJPL is one of the pharmaceutical companies that invest heavily in research and development. The company has its own state of the art Research and Development Centre. The centre was inaugurated on January 2011. “We aim to develop new products matching the fast paced development of the 21st century alongside periodic updates to the formulas of all the drugs that we currently produce matching trends worldwide,” Sharma explained.</p>
<table border="0" cellpadding="30" style="font-size: 12px;" width="99%">
	<tbody>
		<tr>
			<td bgcolor="#E5E4E2">
				<strong>Major Milestones</strong>
				<p>
					DJPL, a WHO-GMP, ISO 9001 and ISO 14001 certified company began its production from January 30, 1991 though it was established on June 23, 1988. The growth and expansion of the company has never slowed down. In 1995, company began technical collaboration with Renata Limited, a company from Bangladesh, another remarkable move for the company that helped it surge. Similarly, on August 2005, a new division Suswasthya, a systematic care division was brought into being.&nbsp;</p>
				<p>
					<img alt="OTC Generic Product" height="273" hspace="45" src="https://lh6.googleusercontent.com/-ELjnRcduyhM/UdqABX3qjNI/AAAAAAAAA60/oOfgOXw5-14/s600/1234 (Copy).JPG" width="500" /></p>
				<p>
					The never ending journey of success continued for DJPL. The company claims, it is the first Nepali company to be certified with ISO 9001 and ISO 14001. Company received this coveted recognition in 2003. A year later the company was awarded with WHO-GMP certification.</p>
				<p>
					<strong>Production capacity of DJPL (per shift)&nbsp;</strong></p>
				<p>
					Syrups : 10,00,000 litres&nbsp;</p>
				<p>
					Tablets : 10,00,00,000 pieces&nbsp;</p>
				<p>
					Capsules : 7,20,00,000 pieces&nbsp;</p>
				<p>
					Dry Powder : 3,00,000 kg&nbsp;</p>
				<p>
					Ointments : 1,00,00,000 tubes&nbsp;</p>
				<p>
					<strong>Employment Creation&nbsp;</strong></p>
				<p>
					Technical Personnel : 60&nbsp;</p>
				<p>
					Marketing Personnel : 80&nbsp;</p>
				<p>
					Administration/Finance : 45&nbsp;</p>
				<p>
					Highly skilled workers : 85&nbsp;</p>
				<p>
					Skilled workers : 55&nbsp;</p>
				<p>
					Semi-skilled workers : 25&nbsp;</p>
				<p>
					<strong>Total Investments&nbsp;</strong></p>
				<p>
					Fixed assets : Rs 54,42,00,000&nbsp;</p>
				<p>
					Current capital : Rs 32,58,00,000&nbsp;</p>
				<p>
					Total investment : Rs 87,00,00,000</p>
				<p>
					<strong>DJPL Product Range&nbsp;</strong></p>
				<p>
					Branded Generics: Systemic/Prescription&nbsp;</p>
				<p>
					Anti-hypertensive products (cardiovascular)&nbsp;</p>
				<p>
					Anti-infectives /Antibiotics&nbsp;</p>
				<p>
					Gastro-intestinal medicines&nbsp;</p>
				<p>
					Anti-diabetics/Liver protective&nbsp;</p>
				<p>
					Musculo-skeletal system medicines&nbsp;</p>
				<p>
					<strong>OTC-Generic Products&nbsp;</strong></p>
				<p>
					Analgesics, Antipyretics, Anti-inflammatory&nbsp;</p>
				<p>
					Anti-cold, anti-cough preparations&nbsp;</p>
				<p>
					Vitamin and mineral supplements&nbsp;</p>
				<p>
					Proteolytic enzymes</p>
				<p>
					Ointments (dermatology products)&nbsp;</p>
				<p>
					<strong>Production Capacity&nbsp;</strong></p>
				<p>
					Installed capacity usage: 60 per cent&nbsp;</p>
				<p>
					Additional capacity: 40 per cent&nbsp;</p>
				<p>
					<strong style="font-size: 12px;">Human Resource Management&nbsp;</strong></p>
				<p>
					<span style="font-size: 12px;">The company has always prioritised its staff members. DJPL has adhered to its policy to enhance employee’s skills and capacity building. According to Sharma, that attempt will provide socio economic benefits to employees. Currently there are 350 employees. Executive Director Sharma said, “DJPL comprises of young, energetic and dedicated professionals who have the expertise, knowledge and perception to bring about latest technologies in pharmaceuticals manufacturing.” He also added that the company is constantly exercising critical thinking to maintain professional competence for excelling the quality of its products. The company has been devoted to enhance the work skills and knowledge of staff members through trainings, experience and exposure within and outside Nepal.</span></p>
				<div>
					 </div>
			</td>
		</tr>
	</tbody>
</table>
<p>
	 </p>
<table border="0" cellpadding="20" width="99%">
</table>
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			'description' => 'Deurali Janta Pharmaceuticals Pvt Ltd, one of the prominent pharmaceutical companies of Nepal,
known for its quality products, has been prioritising import substitution for the domestic market while
enhancing capacity for tapping the foreign markets.',
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			'title' => 'A Target 6% Growth Rate',
			'sub_title' => '',
			'summary' => null,
			'content' => '<p>
	<strong><span style="font-size: 12px;">-- By TC Correspondent</span></strong></p>
<p>
	<span style="font-size: 12px;">The meeting of the National Development Council (NDC) held on July 5-6 in Kathmandu concluded by fixing the target of 6% annual growth rate during the 13th development plan period (2070-73). The two day meeting was attended by experts, leaders of political parties and top bureaucrats. The approach paper to the three-year plan approved by the meeting aims to upgrade Nepal to the status of Developing Country by 2022 from the existing Least Developed Country (LDC). To attain the 6% growth rate, the plan focuses on agricultural growth rate of 4.5% per annum while the target is 6.7% growth rate per annum in non-agricultural sector. These growth rates are expected to trigger employment growth rate of 3.2% per annum, reducing population living below the poverty line to 18%. Effective mobilization of public, private and cooperative sector is the major strategy to achieve the set targets.</span></p>
<p>
	Development of physical infrastructure, expansion of social services, enhancement of good governance in public and other sectors and inclusive and sustainable development are the other priorities. Similarly, development of hydropower and energy sectors, commercialization and diversification of agricultural sector, enhancement of farm productivity and increased access to basic education and health services, drinking water and sanitation are also among the programmes incorporated in the approach paper. The plan has also emphasized on the development of road, other physical infrastructure, tourism, industrial and trade sectors, along with conservation of natural resources and environment. The meeting also discussed about the hurdles in the aim to achieve the targeted development. Political crisis, energy crisis and lack of manpower are identified as the major potential challenges for industrial development.</p>
<p>
	The paper has formulated plans to spend a total Rs 1.62 trillion till 2015/16. Of this, Rs 960.69 billion will be spent to cover recurrent expenses, while Rs 277.94 billion is allocated for capital spending.</p>
<p>
	These expenses, according to the plan, would be met through estimated revenue collection of Rs 1.13 trillion in the three-year period, while the rest would be raised through domestic debt and grants and loans from development partners.</p>
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			'title' => 'Politics As Main Business Challenge',
			'sub_title' => '',
			'summary' => null,
			'content' => '<p>
	<strong>--By Upashana Neupane</strong></p>
<p>
	<span style="font-size: 12px;">Political instability has posed as the major critical challenge for Nepali economy, according to the Second Business Confidence Survey report released by Federation of Nepalese Chambers of Commerce and Industry (FNCCI).&nbsp;</span></p>
<p>
	The survey has also pointed out energy crisis and poor governance as the second and third critical challenges. Similarly, the survey stated that the corruption and frequent strikes are also hitting the economy hard.&nbsp;</p>
<p>
	There is a silver lining &nbsp;around this cloud too. Despite the challenge factors, the survey has revealed that the Nepali private sector felt more confident over the last six months. The survey measured the confidence &nbsp;of business people to have increased by nearly 10 points to 49.5, up from 39.7 six months earlier.&nbsp;</p>
<p>
	<span style="font-size: 12px;">Increased foreign trade, more convenience in securing &nbsp;loan and declining cost of production are the factors boosting the confidence of business people, the report said.</span></p>
<p>
	<span style="font-size: 12px;">The survey has showed that both confidence about &nbsp;the present (CSI) and optimism about the future (EI) have increased among the business community.&nbsp;</span></p>
<p>
	The survey has found that the Business &nbsp;Confidence Index (BCI) in the agricultural sector is the highest among the sectors of economy. However, the BCI of manufacturing is the lowest.</p>
<p>
	<span style="font-size: 12px;">The report, which incorporated responses from 420 business people from all districts, identified ten factors, including weak governance and energy crisis, as having affected business confidence in the country.</span></p>
<p>
	FNCCI had conducted the survey during March-May period and collected a total of 420 responses from all over the country covering all sizes of enterprises of agriculture, manufacturing and service sector.</p>
<div>
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	<span style="font-size: 12px;">The World Bank hopes to continue its programs in Egypt following the military ousting of the country’s first democratically elected leader, bank president Jim Yong Kim told reporters on Thursday during a visit to Chile.The bank, which Kim said has a $4.7 billion loan program for Egypt, is still trying to understand the situation in the country, he added. (Agency)</span></p>',
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			'title' => '‘Women Are Sincere In Business’',
			'sub_title' => '',
			'summary' => null,
			'content' => '<p>
	<span style="font-size: 12px;">Astha Thapa Pande is the Executive Director of TEWA. Pande talked with Suraksha Adhikari of The Corporate regarding the philosophies her organization has adopted and current scenario of women entrepreneurship in Nepal. <strong>Excerpts:</strong></span></p>
<p>
	<strong>Your organisation claims it is focusing on self-reliant development. Would you please elaborate?&nbsp;</strong></p>
<div>
	<img alt="Astha Thapa Pande,Executive Director of TEWA." height="223" src="https://lh6.googleusercontent.com/-NzNX38m46j0/UdqmjtKBAcI/AAAAAAAAA-U/aBRL4mpnMWo/s489/astha.jpg" style="float: right; margin: 0px 0px 0px 10px;" width="215" /></div>
<p>
	Tewa was founded in 1995 in a context where development was entirely driven by foreign aid. New organizations were sprouting but many were allowing their organizational missions to be dictated by what funds were available. At such a time, Tewa was set up, not just as an organization, but as an idea that self-reliance is possible, that we can and must partake in our own development, and that resources can be mobilized locally. Tewa has shown that this can be done, and Nepalis have donated both their money and their time to the cause of women these past nearly two decades since Tewa was established.&nbsp;</p>
<p>
	In today’s context Tewa feels that there is much more thinking and doing to be done with regards to self-reliant development and Tewa is striving yet again to set an example through its physical endowment (land and building) project. The Tewa Centre, which is now nearing completion is a revenue generating centre that will ultimately make Tewa, the women’s fund, far more self-reliant with its focus on raising funds primarily to give grants for women’s rights and empowerment.&nbsp;</p>
<p>
	<strong>So, your organization has decided to not be donor dependent. How difficult is it to execute such decision?&nbsp;</strong></p>
<p>
	I would approach donor dependence as a concept with caution, so there are no misunderstandings. Tewa is not opposed to donors, but wants to encourage organisations to set their own mission and vision, principles and values and not be swayed or change simply for the sake of funding.</p>
<p>
	<strong>What difficulties are women facing regarding entrepreneurship in Nepal?&nbsp;</strong></p>
<p>
	Most of the females in Nepal are uneducated as a result of which their decisions are not given priority in the family. Similarly, the main reason of Nepali women lagging behind in entrepreneurship is poor access to finance. The landed assets are not owned by them because of which they don’t get opportunity to invest in the sector they want to. Though their level has increased in terms of economy and business, there is still much to improve.</p>
<p>
	<strong>How do you evaluate the present status of women entrepreneurship in Nepal?&nbsp;</strong></p>
<p>
	Women are seen increasing their independency level and seeking for self employment. As far as we see, women are capable of being successful entrepreneurs as they are sincere in their business. They are being educated which makes them able to use that available finance in business. Women are also introducing themselves as social entrepreneurs as they come up with their ideas and form a group in a society to provide employment opportunities to other females.</p>
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			'id' => '1332',
			'article_category_id' => '138',
			'title' => 'MDGs Are Within Reach : Report',
			'sub_title' => '',
			'summary' => null,
			'content' => '<p>
	<span style="font-size: 12px;">Thirteen years after the world set the Millennium Development Goals (MDGs), countries have made big strides to meet the eight anti-poverty targets by their 2015 deadline, says a United Nations report released last Monday, which stresses that the unmet goals are still within reach, but nations need to step up their efforts to achieve them.&nbsp;</span></p>
<p>
	Agreed upon by world leaders at a UN summit in 2000, the MDGs set specific targets on poverty alleviation, education, gender equality, child and maternal health, environmental stability, HIV/AIDS and malaria reduction, and a global partnership for development.&nbsp;</p>
<p>
	The Millennium Development Goals Report 2013 shows how the combined actions of governments, civil society and the private sector have made substantial progress in meeting many of the targets, while also pointing out which areas are falling behind and require immediate attention.&nbsp;</p>
<p>
	The targets that have already been met include halving the number of people living in extreme poverty and providing more than two billion people with access to improved sources of drinking water.&nbsp;</p>
<p>
	Countries have also made great strides on health targets, and are within close reach of achieving them by 2015. These include reducing the mortality rates from malaria and tuberculosis and stopping HIV infections. Other areas where progress has been significant include the reduction of people suffering from undernourishment and the decline of the proportion of slum dwellers in cities.&nbsp;</p>
<p>
	The report also states that the global economic crisis has left millions unemployed, and has reduced the amount of development aid for those countries that are most in need. In spite of these developments, the report urges sustained momentum, noting that countries will have to build on MDG achievements when they decide on a post-2015 agenda.</p>
<table border="0" cellpadding="25" width="99%">
	<tbody>
		<tr>
			<td bgcolor="#E5E4E2">
				<p>
					<strong>‘South Asia on Track to Achieve Targets’&nbsp;</strong></p>
				<p>
					<span style="font-size: 12px;">According to the report, South Asia as a whole is on track for nine MDG indicators, Sri Lanka is on track for 15 indicators and outperforms the sub-region. The report also said extreme poverty rates have been halved for Eastern Asia, South-Eastern Asia and Southern Asia, five years ahead of the deadline, though with the exception of India. The report found that South-Eastern Asia reached hunger reduction target ahead of 2015 deadline. However, South Asia is lagging behind. As per the report, in South Asia considerable progress has been made in primary school enrolment that increased to 93 per cent from 78 per cent during 2011 and 2000. It said the region saw the greatest increases in youth literacy rates between 1990 and 2011 from 60 to 81 per cent.</span></p>
			</td>
		</tr>
	</tbody>
</table>
<p>
	 </p>
<table border="0" cellpadding="20" width="99%">
</table>
<p>
	 </p>',
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			'description' => 'Thirteen years after the world set the Millennium Development Goals (MDGs), countries have made big strides to meet the eight anti-poverty targets by their 2015 deadline',
			'sortorder' => '1194',
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		'Article' => array(
			'id' => '1331',
			'article_category_id' => '137',
			'title' => 'India Eases Power Import',
			'sub_title' => '',
			'summary' => null,
			'content' => '<p>
	<span style="font-size: 12px;">In a significant move, the Central Government of India has decided to free the import of electricity. It has now been decided to allow import of power without the need for authorisation from the central government, according to a news report given by Business Line Daily. The move to “free’’ import of electricity was announced through a notification by India’s Union Ministry of Commerce and Industry on Friday evening. The “freeing of import’’ is done through an amendment in the import policy of electrical energy. The move comes even as the country is facing severe power shortage. “Import of electrical energy will not require authorisation,” Director General of Foreign Trade (DGFT) said in a notification. It said that the “import policy of electrical energy is revised from ‘restricted’ to ‘free’.”</span></p>
<p>
	<strong>Gross generation&nbsp;</strong></p>
<p>
	<img alt="India Eases Power Import" height="147" src="https://lh6.googleusercontent.com/-Z8RB3jZPNz4/UdqmleX6j6I/AAAAAAAAA-w/FB6L_s8sXqk/s543/power.jpg" style="float: left; margin: 0px 10px 0px 0px;" width="197" /></p>
<p>
	The gross electricity generation in India from various conventional energy sources during April 2012-January 2013 was 7,62,7668 million units, as against the target of 7,71,866 million units, says a report by Indian news agency PTI. This generation is mainly from thermal, hydro and nuclear sources and import of hydro power from Bhutan during 2012- 13. Nuclear power registered a generation of 27,450 million units as compared to the target of 35,200 million units. The hydro power generation during the period was 99,071 million units as against the target of 1,22,045 million units. India imported 4,710 million units of hydro power from Bhutan against the target of 5,480 million units.</p>
<table border="0" cellpadding="25" width="99%">
	<tbody>
		<tr>
			<td bgcolor="#E5E4E2">
				<p>
					<strong><span style="font-size:14px;">‘Big Opportunity for Nepal’&nbsp;</span></strong></p>
				<p>
					The Nepali private power producers welcomed the Indian government’s decision as a ‘big opportunity’. ‘Indian government decision is very supportive,’ says Gyanendra Lal Pradhan, Chairman of the Energy Committee of Federation of Nepalese Chambers of Commerce and Industry (FNCCI). The Nepali power producers have been lobbying for electricity import into India. ‘The joint team of FNCCI and Confederation of Indian Industry (CII) has long been reiterating this issue,’ Pradhan mentioned.&nbsp;</p>
				<p>
					The export of electricity to India is seen as one of the biggest trading potential of Nepal. Nepal is expected to enjoy surplus energy after the completion of ongoing hydle projects across the country by 2017. But, to benefit from this opportunity to export power to India, the various hurdles caused by political uncertainty and absence of investment friendly environment in Nepal need to be removed. The lack of nationwide power transmission network is also blamed as another hindrance to electricity export to India. ‘A clear national policy is needed to encourage and facilitate the power producers,’ Pradhan said. According to him, establishment of power trading company based on public-private-partnership model could pave the way for exporting the surplus electricity. ‘Similarly, the 30 year old existing policy on transmission line needs to be revised as well,’ he added. Pradhan also suggested de-regulation of power sector as different rules and regulations weigh on the development of new projects.</p>
				<div>
					 </div>
			</td>
		</tr>
	</tbody>
</table>
<p>
	 </p>
<table border="0" cellpadding="20" width="99%">
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	 </p>',
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			'description' => 'In a significant move, the Central Government of India has decided to free the import of electricity.',
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		'Article' => array(
			'id' => '1330',
			'article_category_id' => '135',
			'title' => 'Can The New Government Change Any Policy?',
			'sub_title' => '',
			'summary' => null,
			'content' => '<p style="">
	<font face="arial, helvetica, sans-serif">The government is going full swing in preparation to bring out the government budget for the fiscal year that starts on July 16. In this process, the government is also preparing to change some policies. However, there are views that argue that as this government’s mandate is only to hold the coming elections, it must not change any of the existing policies. The Corporate talked with some experts about the issue. Excerpts:</font></p>
<p style="">
	 </p>
<p>
	<span style="font-size:12px;"><span style="font-family: arial, helvetica, sans-serif;"><strong><img alt="Dr Chiranjibi Nepal,Principal Advisor,Ministry of Finance" height="154" src="https://lh4.googleusercontent.com/-tbX4iUnBeMI/UdqSwI79ZHI/AAAAAAAAA9Q/WbppY81OG8c/s154/Dr%2520Chiranjibi%2520Nepal.jpg" style="float: left; margin: 0px 10px 0px 0px;" width="133" /></strong></span></span></p>
<p>
	<font face="arial, helvetica, sans-serif"><b>Dr Chiranjibi Nepal&nbsp;</b></font></p>
<p>
	<font face="arial, helvetica, sans-serif">Principal Advisor&nbsp;</font></p>
<p>
	<font face="arial, helvetica, sans-serif">Ministry of Finance&nbsp;</font></p>
<p>
	<font face="arial, helvetica, sans-serif">The present government can definitely change the existing policies as required and bring new programmes. The 25-point agreement between the major political parties while appointing this government has cleared the way to introduce budget by this government with necessary changes in policies. It is very important to bring budget in time or else the economic growth rate will be hampered. The government has set the target of 7 per cent economic growth by 2015 and it is possible only if the existing government can change some policies as required to expedite capital expenditure. I think, major political parties agree on this.</font></p>
<p style="">
	<span style="font-size:12px;"><span style="font-family: arial, helvetica, sans-serif;"><br />
	</span></span></p>
<p style="">
	 </p>
<p>
	<span style="font-size:12px;"><span style="font-family: arial, helvetica, sans-serif;"><strong><img alt="Dr Chandra Mani Adhikari,Economist" height="154" src="https://lh3.googleusercontent.com/-D4KjA3oW-Sg/UdqSwHmogLI/AAAAAAAAA9I/HrJV-OS51jU/s291/Dr%2520Chandra%2520Mani.jpg" style="float: left; margin: 0px 10px 0px 0px;" width="133" /></strong></span></span></p>
<p class="Pa18" style="">
	<span style="font-size:12px;"><span style="font-family: arial, helvetica, sans-serif;"><strong><span style="color: rgb(34, 30, 31);">Dr Chandra Mani Adhikari<span class="Apple-tab-span" style="white-space: pre;"> </span></span></strong></span></span></p>
<p class="Pa18">
	<font color="#221e1f" face="arial, helvetica, sans-serif">Economist&nbsp;</font></p>
<p class="Pa18">
	<font color="#221e1f" face="arial, helvetica, sans-serif">In my opinion, this government cannot change the existing policies. The government should bring full budget to ensure effective expenditure planning in the coming fiscal year. The government, however, should not be ambitious and bring the budget in a manner that an elected government does. I think the government should take care of at least three issues. It should not introduce new programmes, it should not change policies and should not initiate big projects. Similarly, the government should not make the size of budget too large. In the revenue front, government cannot change the existing revenue policy but it can change tax rates, if needed.</font></p>
<p class="Pa18" style="">
	<span style="font-size:12px;"><span style="font-family: arial, helvetica, sans-serif;"><span style="color: rgb(34, 30, 31);"><br />
	</span></span></span></p>
<p class="Pa18" style="">
	<span style="font-size:12px;"><span style="font-family: arial, helvetica, sans-serif;"><br />
	</span></span></p>
<p style="">
	 </p>
<p>
	<span style="font-size:12px;"><span style="font-family: arial, helvetica, sans-serif;"><strong><img alt="Hariraj Khewa Limbu,Former Minister of State for Finance" height="154" src="https://lh6.googleusercontent.com/-W0eUyWktWIE/UdqSwN4jIaI/AAAAAAAAA9U/c8kYEHsiZ6s/s287/Hariraj%2520Khewa%2520Limbu.jpg" style="float: left; margin: 0px 10px 0px 0px;" width="133" /></strong></span></span></p>
<p style="">
	<span style="font-size:12px;"><span style="font-family: arial, helvetica, sans-serif;"><strong>Hariraj Khewa Limbu,</strong></span></span></p>
<p>
	<font face="arial, helvetica, sans-serif">Former Minister of State for Finance&nbsp;</font></p>
<p>
	<font face="arial, helvetica, sans-serif">This government does not have the right to change the existing policies, and it should adhere to the ones adopted by the Baburam Bhattarai-led government. The government should solely focus on the Constituent Assembly elections. The primary concern for now is to form a good Constituent Assembly. This government’s only responsibility to hold election. It does not have any right to bring new programmes and policies. Moreover, as the focus should be on the elections, the government does not have time to effectively formulate new policies and monitor them, which might lead to corruption. There will be no mechanism to check corrupt activities in the absence of an elected body.</font></p>
<div>
	 </div>',
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			'description' => 'The government is going full swing in preparation to bring out the government budget for the fiscal year that starts on July 16.',
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			'id' => '1329',
			'article_category_id' => '136',
			'title' => 'Target 7 Percent Growth',
			'sub_title' => '',
			'summary' => null,
			'content' => '<table border="0" cellpadding="0" cellspacing="10" width="100%">
	<tbody>
		<tr>
			<td valign="top" width="50%">
				<p>
					 </p>
				<p>
					<strong><img alt="Anil Gyawali
CEO,Nabil Bank" height="150" src="https://lh6.googleusercontent.com/-lC0nR4o0S24/UdqSxH0H0QI/AAAAAAAAA9c/xQzARnETuuo/s290/anil.jpg" style="float: left; margin: 0px 10px 0px 0px;" width="125" /></strong></p>
				<p>
					<strong>Anil Gyawali &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp;&nbsp;</strong><span style="font-size: 12px;">CEO &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp;</span><span style="font-size: 12px;">Nabil Bank</span></p>
				<p>
					 </p>
				<p>
					To attain economic growth, the government should make proper use of opportunities and promptly address the challenges. Stability in policies is most important for Nepal now. Frequent changes in government will never help attract investment. There are three major areas that need to be prioritised: agriculture, manufacturing and service-oriented businesses. Recently, Nepal Rastra Bank (NRB) came up with a policy to make it mandatory for banks to invest 10 per cent of their money in agricultural sector. This can be done for tourism as well.</p>
				<p>
					 </p>
				<p>
					 </p>
			</td>
			<td valign="top" width="50%">
				<p>
					<strong><img alt="Dharma Raj Pandey,President,Nepal Microfinance Bankers Association
(NMBA)" height="150" src="https://lh6.googleusercontent.com/-sqeT-jquh2A/UdqSyI7vQGI/AAAAAAAAA9k/5jT3-mCWtF8/s285/dharma.jpg" style="float: left; margin: 0px 10px 0px 0px;" width="125" /><br />
					</strong></p>
				<p>
					<strong>Dharma Raj Pandey &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp;&nbsp;</strong><span style="font-size: 12px;">President &nbsp;&nbsp;</span><strong style="font-size: 12px;">&nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp;</strong><span style="font-size: 12px;">Nepal Microfinance Bankers Association &nbsp;</span><span style="font-size: 12px;">&nbsp;</span><span style="font-size: 12px;">&nbsp;</span><span style="font-size: 12px;">(NMBA)</span><strong style="font-size: 12px;">&nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp;&nbsp;</strong></p>
				<p>
					<span style="font-size: 12px;">Agriculture holds the key to achieving 7 per cent economic growths in Nepal. There are a few steps that the government could take to modernise agriculture. First of all, it should commission research on ways to capitalise on agricultural products. Secondly, modern technology should be made accessible to the farmers. After doing that, new industries that use agro products as raw materials can be set up. This ultimately will contribute towards economic development. In addition to this, the government should invest in infrastructure, especially in transportation. Similarly, foreign investment needs to be sought in areas of hydropower and tourism.</span><strong style="font-size: 12px;">&nbsp;&nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp;&nbsp;</strong><span style="font-size: 12px;">&nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp;&nbsp;</span><span style="font-size: 12px;">&nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp;&nbsp;</span></p>
				<div>
					 </div>
			</td>
		</tr>
	</tbody>
</table>
<p>
	 </p>',
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			'article_category_id' => '134',
			'title' => '‘No To Another Merger Right Now’',
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			<td>
				<img alt="Tulasi R. Gautam,CEO,MachhapuchchhreBank Limited" height="209" src="https://lh4.googleusercontent.com/-M_eOSiFZvNc/UdqK3UNMT2I/AAAAAAAAA8o/wwW6sZVBcN0/s512/Tulasiu.jpg" width="200" /></td>
		</tr>
		<tr>
			<td style="text-align: center;">
				<b>Tulasi R. Gautam<br />
				</b>CEO<br />
				Machhapuchchhre Bank Limited</td>
		</tr>
	</tbody>
</table>
<p>
	<strong>Tulasi R. Gautam</strong>, CEO, Machhapuchchhre Bank Limited (with which Standard Finance Ltd was merged on 9th July 2012) talks to The Corporate’s Yagya Banjade and Sweta Sharma about the achievements of his bank and the overall situation of commercial banks in Nepal. <strong>Excerpts:</strong></p>
<p>
	<strong>It has been a year since the merger of Standard Finance into Machhapuchchhre Bank. How has that merger helped?&nbsp;</strong></p>
<p>
	It was the largest merger of two independent organizations in Nepal till recently. And the results to date are good. We received quite good response from the market. All the assimilation was done before I joined the bank. The most encouraging point is the branch network. We now have 54 branches with one extension counter and 65 ATMs covering 29 districts. Talking about business, the loan rate was 16 billion and today it is 21 billion. I call this ‘an average growth’ in the context of our banking sector. We have more than 350,000 customers. According to our latest data (1st July 2013), we have 21.16 billion loan outstanding, 25.51 billion in deposits and the CDC ratio is 76.25 per cent. We have paid up capital of 2.47 billion. Considering all this, I can say we are doing quite well.</p>
<p>
	<strong>If Nepal Rastra Bank (NRB) really asks banks to increase the paid up capital further, what will be the situation of your bank?&nbsp;</strong></p>
<p>
	NRB will definitely give a time frame to banks for increasing the paid up capital. Some banks may be able to generate the capital on their own. Those who cannot will opt for merger.&nbsp;</p>
<p>
	<strong>The financial condition of your bank does not seem to have improved very much after the merger. What is the reason?&nbsp;</strong></p>
<p>
	It is not necessary that after merger the financial condition should improve drastically. The merger adds figures on some parameters and that definitely has helped uplift the financial condition of the bank. The board of directors and the management team contribute equally to uplift the situation of a bank.&nbsp;</p>
<p>
	<strong>In the third quarter of current fiscal year, your bank’s bad debt was 2.73 per cent which is considered high. What do you think about it?&nbsp;</strong></p>
<p>
	Yes, this year we are looking for improvements. After merger, there have cropped up several issues that need to be settled and we are working in managing that. I believe that a bad debt of 2.73 per cent is quite high and in next year we will reduce it to 1.5 per cent.</p>
<p>
	<strong>You brought into some staff from Nepal SBI into Machhapuchchhre in a number of key positions. Are more people coming?&nbsp;</strong></p>
<p>
	There were enough staffs when I entered this bank. But for few key posts we needed some new employees. So four people from Nepal SBI and one from Sanima came and joined us. But it was not pre-planned.&nbsp;</p>
<p>
	<strong>Staffs that were earlier in Standard Finance are working in Machhapuchchhre two levels below where they were in Standard Finance. What has been the repercussion of that demotion?&nbsp;</strong></p>
<p>
	It cannot be called a demotion. We can call it ‘adjustment of the post’ and that adjustment was at maximum to two levels considering the profiles of the individuals. None of the staff have left the organization due to this reason. This issue was being settled in a participatory manner among staffs themselves before I was appointed.</p>
<p>
	<strong>After the merger there is generally chaos among the staffs. How did you manage it?&nbsp;</strong></p>
<p>
	When two organizations merge, the work culture also gets merged and there will be problems in hierarchy. The major difference is in the system as both organizations have their own system of working. In this situation, there should be high level of understanding among staffs. In my view, if the merger is between organization of similar level then there will not be any problem except in the CEO level. Next point I learnt is that if the merger is going to happen, staffs will feel some sort of insecurity about their job. But a proper communication will remove that feeling of insecurity. Transparency in the system will help.</p>
<p>
	<strong>How do you evaluate the present situation of commercial banks?&nbsp;</strong></p>
<p>
	Some banks which have huge investments in real estate are facing some problems in loan recovery. Few banks which solely focus on banking are doing good. Overall, in my view, the situation of commercial banks is quite good.&nbsp;</p>
<p>
	<strong>What are the existing problems in the banking sector?&nbsp;</strong></p>
<p>
	The first and foremost problem is our unstable economy. The liquidity is highly fluctuating and unpredictable. If the government budget comes in time, things might go smoothly for banks as well. We need new avenues for lending with new business coming in the market.</p>
<p>
	<strong>It is said that banking sector suffers lack of skilled manpower. Is it true?&nbsp;</strong></p>
<p>
	It is not like that. We are doing a good business for long. That would not have been possible without skilled manpower. For past three years, new commercial banks have not started as NRB has stopped giving license to new commercial banks. This shows that till now there are skilled people who are operating banks quite well.&nbsp;</p>
<p>
	<strong>These days the operational risks are getting high in banking sector. How do you consider this?&nbsp;</strong></p>
<p>
	It is due to some promoters working for their own benefit. Next reason could be reckless lending. The software and system are also responsible for increase in the operational risk.&nbsp;</p>
<p>
	<strong>Nepal Rastra Bank has drawn the line between bankers and businessmen. What are your comments on this?&nbsp;</strong></p>
<p>
	It would have been better if in the first place businessmen were not allowed to enter banking sector at all. Initially they opened the door and now they want the businessmen out. This has created some discomfort but overall this directive from NRB might be for the good of banking sector though it is yet to be finalized.</p>
<p>
	<strong>What is the likelihood of further mergers with Machhapuchchhre as one of the parties?&nbsp;</strong></p>
<p>
	Some developmental banks and financial institutions have approached us with merger proposals. But as we are just fine tuning the organization after the merger of Standard Finance into us, we are not moving towards another merger for now.</p>
<div>
	 </div>
<table align="right" border="0" cellpadding="1" cellspacing="1">
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<p>
	 </p>',
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			'description' => 'Tulasi R. Gautam, CEO, Machhapuchchhre Bank Limited (with which Standard Finance Ltd was merged on 9th July 2012) talks to The Corporate’s Yagya Banjade and Sweta Sharma about the achievements of his bank and the overall situation of commercial banks in Nepal.',
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			'id' => '1327',
			'article_category_id' => '122',
			'title' => 'DJPL: The Promise Of Quality Assurance',
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			'content' => '<p>
	<strong style="font-size: 12px;">--By Gaurav Aryal</strong></p>
<p>
	Deurali Janta Pharmaceuticals Pvt Ltd (DJPL), a leading pharmaceutical company inaugurated Nirog, a primary care division of the company in the last week of June, 2013. Hari Bhakta Sharma, Executive Director of DJPL said that the new division has been set-up with an aim of import substitution of the drugs mostly in such segments as muscular inflammation, pain and emergency management. He also said that the Nirog division’s primary objective is to supply high quality drugs to Nepalis while the company exploits its capacity to explore opportunities in the international markets.</p>
<table align="right" border="0" cellpadding="1" cellspacing="1">
	<tbody>
		<tr>
			<td>
				<img alt="Hari Bhakta Sharma,Executive Director,Deurali Janta Pharmaceuticals Pvt Ltd" height="292" src="https://lh4.googleusercontent.com/-_sN1XhOnF5Q/UdqBJ6WyYMI/AAAAAAAAA7w/Br7QQfKeL3Q/s512/1212121.jpg" width="250" /></td>
		</tr>
		<tr>
			<td style="text-align: center;">
				<b>Hari Bhakta Sharma,<br />
				</b>Executive Director<br />
				Deurali Janta Pharmaceuticals Pvt Ltd</td>
		</tr>
	</tbody>
</table>
<p>
	Sharma explained that drugs mostly in these three segments are being imported heavily. Apart from seeking ways for import substitution, he said, “We are looking for exporting our products to foreign markets while we build our capacity.”&nbsp;</p>
<p>
	<span style="font-size: 12px;">According to Sharma, this new division was established as a part of the company’s objective to produce medicines that help promote healthier living and prevent people from catching diseases. The company is dedicated to stabilise this newly established division before coming up with a new venture. DJPL has been launching a new division in every two to three years. Sharma said, “Pharmaceutical industry is all about a dynamic life science that is changing so fast that today’s technology becomes obsolete next day. To boost business competitiveness and mitigate product lifecycle, we need to do something new.” At the same time, companies like DJPL are realising the responsibility to substitute huge imports of drugs.</span></p>
<p>
	<strong>Export Dilemma&nbsp;</strong></p>
<p>
	The export of drugs is being talked for a couple of years, but it is yet to be realised. “There are markets where we cannot compete. Also, at times the cost of production and cost of quality compliance is greater than the rate of return. In such markets, we drop the idea of export,” he said, adding, “In those markets where we want to compete, there are so much of regulatory barriers, and it is painfully time taking to meet all the requirements.” He said that DJPL and some other pharmaceutical companies are in a process of meeting all the requirements. According to Sharma, unlike in any other commodity, every pharma product and every production unit must be registered in the target country before starting exports there because drugs are considered highly sensitive as it is directly related to the human health. Countries have strict policy to regulate drugs import. Moreover, Sharma said that the Nepali companies are becoming extra cautious before making any export commitments because of the unfavourable environment in Nepal to run manufacturing bases.</p>
<p>
	<strong>Product Diversification&nbsp;</strong></p>
<p>
	The DJPL has been adding new plants and divisions to come up with a new range of products. According to Sharma, the company has always been in a drive to product development. Apart from having a strong foothold in the d o m e s t i c market, the company is searching for favourable overseas markets. Therefore, every move of the company is targeted towards product development, capacity building and boosting competitiveness.&nbsp;</p>
<p>
	<img alt="Product Diversification DJPL" height="380" hspace="45" src="https://lh6.googleusercontent.com/-WeIbYRuJ6Ds/UdqACYgmqgI/AAAAAAAAA7A/V4pM4d3MsrU/s600/DSC06828.jpg" width="500" /></p>
<p>
	Sharma revealed that the company is planning to work also on the natural products. The DJPL is planning to establish a new plant in Chitwan and has hired a consultant for technical and physical infrastructure development required for starting the operation. But he also hinted that it would almost take a decade before this unit starts its production. “We have talked a lot about Nepal’s richness on herbs and medicinal plants. The government is seen ineffective in materialising Nepal’s richness on natural products. So, it is us, the private sector who must be doing something there,” he explained. Sharma further added that the company is working on it and DJPL is always committed to quality assurance as it is related with medicines and human health.&nbsp;</p>
<p>
	Similarly, the company had come up with Aarogyam, a derma care division on August 2011. This division manufactures products especially for skin, eye and dental diseases. The company had set up this manufacturing unit on the occasion of DJPL’s 20th anniversary with an investment of Rs 50 million. This unit produces antifungal, antibacterial and anti-inflammatory products for treatment of skin diseases among others. Clomigen, Solbet, Conaz and Flutipro are some of the ointments manufactured by Aarogyam.</p>
<p>
	The company is focused on manufacturing drugs related with infections, cardiology, women’s health, and infectious diseases. The company has been in the quest to develop and produce drugs popularly in demand also in the international market. Sharma believes, “Our investment in technologies and products will allow us expand to new therapeutic segments necessary for healthier living of people.”</p>
<p>
	<strong>Market Presence&nbsp;</strong></p>
<p>
	Having over two decades of presence in the Nepali market, DJPL has established itself as a leading pharmaceutical company. The company claims that it has achieved this position because of its belief and commitment to quality products with affordability, use of cutting edge technology and a promise to offer better service to customers. DJPL has become a part of healing with its range of 220 products.&nbsp;</p>
<p>
	<img alt="Market Presence DJPL" height="328" hspace="45" src="https://lh4.googleusercontent.com/-daVArC3YRVc/UdqFiVPgoII/AAAAAAAAA8M/No9yrqm5mPE/s600/AHU Room Photo (Copy).jpg" width="500" /></p>
<p>
	Sharma claimed that DJPL holds five per cent share of the total size of pharmaceutical market of Nepal. There are 45 Nepali companies and 258 foreign companies present in the Nepali market. Similarly, the size of the Nepali pharmaceutical market is estimated to be of Rs 16.7 billion. Likewise the pharmaceutical industry of Nepal has created a direct employment for 9,650 people, according to Quantification Study 2011 on Pharmaceutical Markets.&nbsp;</p>
<p>
	The company is using 60 per cent of its installed production capacity. DJPL has plans to utilise rest of the capacities to produce life saving medicines related to ailments of the heart, kidney, nerve and psychological complexities. The company says that it is conducting studies to understand the market feasibility so that it can utilise its 40 per cent production capacity that is not in use at the moment.</p>
<p>
	<strong>Quality Assurance&nbsp;</strong></p>
<p>
	DJPL has a total investment of Rs 870 million. According to Sharma, the company aims to produce best quality medicines at affordable cost. The use of ultra modern technology is also part of the company’s goals and also a contribution to Nepal’s industrial and economic development. “Quality assurance is the topmost priority of DJPL. Our Quality Assurance Department works independently with the support from Quality Control Department that has sophisticated technology along with highly qualified and trained personnel,” Sharma said. It also operates a full-fledged microbiological testing facility, which is in line with international standards.</p>
<p>
	<img alt="Quality Assurance DJPL" height="378" hspace="45" src="https://lh5.googleusercontent.com/-SpXVeXlb0gU/UdqACV-htDI/AAAAAAAAA7Q/nsWfVy86KKs/s600/DSC06817.jpg" width="500" /></p>
<p>
	Sharma claimed that DJPL is one of the pharmaceutical companies that invest heavily in research and development. The company has its own state of the art Research and Development Centre. The centre was inaugurated on January 2011. “We aim to develop new products matching the fast paced development of the 21st century alongside periodic updates to the formulas of all the drugs that we currently produce matching trends worldwide,” Sharma explained.</p>
<table border="0" cellpadding="30" style="font-size: 12px;" width="99%">
	<tbody>
		<tr>
			<td bgcolor="#E5E4E2">
				<strong>Major Milestones</strong>
				<p>
					DJPL, a WHO-GMP, ISO 9001 and ISO 14001 certified company began its production from January 30, 1991 though it was established on June 23, 1988. The growth and expansion of the company has never slowed down. In 1995, company began technical collaboration with Renata Limited, a company from Bangladesh, another remarkable move for the company that helped it surge. Similarly, on August 2005, a new division Suswasthya, a systematic care division was brought into being.&nbsp;</p>
				<p>
					<img alt="OTC Generic Product" height="273" hspace="45" src="https://lh6.googleusercontent.com/-ELjnRcduyhM/UdqABX3qjNI/AAAAAAAAA60/oOfgOXw5-14/s600/1234 (Copy).JPG" width="500" /></p>
				<p>
					The never ending journey of success continued for DJPL. The company claims, it is the first Nepali company to be certified with ISO 9001 and ISO 14001. Company received this coveted recognition in 2003. A year later the company was awarded with WHO-GMP certification.</p>
				<p>
					<strong>Production capacity of DJPL (per shift)&nbsp;</strong></p>
				<p>
					Syrups : 10,00,000 litres&nbsp;</p>
				<p>
					Tablets : 10,00,00,000 pieces&nbsp;</p>
				<p>
					Capsules : 7,20,00,000 pieces&nbsp;</p>
				<p>
					Dry Powder : 3,00,000 kg&nbsp;</p>
				<p>
					Ointments : 1,00,00,000 tubes&nbsp;</p>
				<p>
					<strong>Employment Creation&nbsp;</strong></p>
				<p>
					Technical Personnel : 60&nbsp;</p>
				<p>
					Marketing Personnel : 80&nbsp;</p>
				<p>
					Administration/Finance : 45&nbsp;</p>
				<p>
					Highly skilled workers : 85&nbsp;</p>
				<p>
					Skilled workers : 55&nbsp;</p>
				<p>
					Semi-skilled workers : 25&nbsp;</p>
				<p>
					<strong>Total Investments&nbsp;</strong></p>
				<p>
					Fixed assets : Rs 54,42,00,000&nbsp;</p>
				<p>
					Current capital : Rs 32,58,00,000&nbsp;</p>
				<p>
					Total investment : Rs 87,00,00,000</p>
				<p>
					<strong>DJPL Product Range&nbsp;</strong></p>
				<p>
					Branded Generics: Systemic/Prescription&nbsp;</p>
				<p>
					Anti-hypertensive products (cardiovascular)&nbsp;</p>
				<p>
					Anti-infectives /Antibiotics&nbsp;</p>
				<p>
					Gastro-intestinal medicines&nbsp;</p>
				<p>
					Anti-diabetics/Liver protective&nbsp;</p>
				<p>
					Musculo-skeletal system medicines&nbsp;</p>
				<p>
					<strong>OTC-Generic Products&nbsp;</strong></p>
				<p>
					Analgesics, Antipyretics, Anti-inflammatory&nbsp;</p>
				<p>
					Anti-cold, anti-cough preparations&nbsp;</p>
				<p>
					Vitamin and mineral supplements&nbsp;</p>
				<p>
					Proteolytic enzymes</p>
				<p>
					Ointments (dermatology products)&nbsp;</p>
				<p>
					<strong>Production Capacity&nbsp;</strong></p>
				<p>
					Installed capacity usage: 60 per cent&nbsp;</p>
				<p>
					Additional capacity: 40 per cent&nbsp;</p>
				<p>
					<strong style="font-size: 12px;">Human Resource Management&nbsp;</strong></p>
				<p>
					<span style="font-size: 12px;">The company has always prioritised its staff members. DJPL has adhered to its policy to enhance employee’s skills and capacity building. According to Sharma, that attempt will provide socio economic benefits to employees. Currently there are 350 employees. Executive Director Sharma said, “DJPL comprises of young, energetic and dedicated professionals who have the expertise, knowledge and perception to bring about latest technologies in pharmaceuticals manufacturing.” He also added that the company is constantly exercising critical thinking to maintain professional competence for excelling the quality of its products. The company has been devoted to enhance the work skills and knowledge of staff members through trainings, experience and exposure within and outside Nepal.</span></p>
				<div>
					 </div>
			</td>
		</tr>
	</tbody>
</table>
<p>
	 </p>
<table border="0" cellpadding="20" width="99%">
</table>
<p>
	 </p>',
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			'description' => 'Deurali Janta Pharmaceuticals Pvt Ltd, one of the prominent pharmaceutical companies of Nepal,
known for its quality products, has been prioritising import substitution for the domestic market while
enhancing capacity for tapping the foreign markets.',
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			'title' => 'A Target 6% Growth Rate',
			'sub_title' => '',
			'summary' => null,
			'content' => '<p>
	<strong><span style="font-size: 12px;">-- By TC Correspondent</span></strong></p>
<p>
	<span style="font-size: 12px;">The meeting of the National Development Council (NDC) held on July 5-6 in Kathmandu concluded by fixing the target of 6% annual growth rate during the 13th development plan period (2070-73). The two day meeting was attended by experts, leaders of political parties and top bureaucrats. The approach paper to the three-year plan approved by the meeting aims to upgrade Nepal to the status of Developing Country by 2022 from the existing Least Developed Country (LDC). To attain the 6% growth rate, the plan focuses on agricultural growth rate of 4.5% per annum while the target is 6.7% growth rate per annum in non-agricultural sector. These growth rates are expected to trigger employment growth rate of 3.2% per annum, reducing population living below the poverty line to 18%. Effective mobilization of public, private and cooperative sector is the major strategy to achieve the set targets.</span></p>
<p>
	Development of physical infrastructure, expansion of social services, enhancement of good governance in public and other sectors and inclusive and sustainable development are the other priorities. Similarly, development of hydropower and energy sectors, commercialization and diversification of agricultural sector, enhancement of farm productivity and increased access to basic education and health services, drinking water and sanitation are also among the programmes incorporated in the approach paper. The plan has also emphasized on the development of road, other physical infrastructure, tourism, industrial and trade sectors, along with conservation of natural resources and environment. The meeting also discussed about the hurdles in the aim to achieve the targeted development. Political crisis, energy crisis and lack of manpower are identified as the major potential challenges for industrial development.</p>
<p>
	The paper has formulated plans to spend a total Rs 1.62 trillion till 2015/16. Of this, Rs 960.69 billion will be spent to cover recurrent expenses, while Rs 277.94 billion is allocated for capital spending.</p>
<p>
	These expenses, according to the plan, would be met through estimated revenue collection of Rs 1.13 trillion in the three-year period, while the rest would be raised through domestic debt and grants and loans from development partners.</p>
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			'content' => '<p>
	<strong>--By Upashana Neupane</strong></p>
<p>
	<span style="font-size: 12px;">Political instability has posed as the major critical challenge for Nepali economy, according to the Second Business Confidence Survey report released by Federation of Nepalese Chambers of Commerce and Industry (FNCCI).&nbsp;</span></p>
<p>
	The survey has also pointed out energy crisis and poor governance as the second and third critical challenges. Similarly, the survey stated that the corruption and frequent strikes are also hitting the economy hard.&nbsp;</p>
<p>
	There is a silver lining &nbsp;around this cloud too. Despite the challenge factors, the survey has revealed that the Nepali private sector felt more confident over the last six months. The survey measured the confidence &nbsp;of business people to have increased by nearly 10 points to 49.5, up from 39.7 six months earlier.&nbsp;</p>
<p>
	<span style="font-size: 12px;">Increased foreign trade, more convenience in securing &nbsp;loan and declining cost of production are the factors boosting the confidence of business people, the report said.</span></p>
<p>
	<span style="font-size: 12px;">The survey has showed that both confidence about &nbsp;the present (CSI) and optimism about the future (EI) have increased among the business community.&nbsp;</span></p>
<p>
	The survey has found that the Business &nbsp;Confidence Index (BCI) in the agricultural sector is the highest among the sectors of economy. However, the BCI of manufacturing is the lowest.</p>
<p>
	<span style="font-size: 12px;">The report, which incorporated responses from 420 business people from all districts, identified ten factors, including weak governance and energy crisis, as having affected business confidence in the country.</span></p>
<p>
	FNCCI had conducted the survey during March-May period and collected a total of 420 responses from all over the country covering all sizes of enterprises of agriculture, manufacturing and service sector.</p>
<div>
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	<span style="font-size: 12px;">Gold tumbled 3 percent on Friday after positive U.S. jobs data sent the dollar rallying and rekindled worries the Federal Reserve could be tempted to scale back its monetary stimulus later this year. The spot price of bullion dropped by as much as 3.3 percent to a session low of $1,207.50 an ounce. U.S. gold futures for August settled down 3.1 percent at 1,212.70 an ounce. (Agency)</span></p>
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	<span style="font-size: 12px;">US employers added 195,000 jobs in June and hiring was more robust in the two previous months than earlier estimated. The gains raise hopes for a stronger economy in the second half of 2013.The Labor Department said Friday that the economy also added 20,000 more jobs in May and 50,000 more in April than initially reported. The unemployment rate stayed at 7.6 percent, but for a good reason: More people started looking for work. (Agency)</span></p>
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			'description' => 'US employers added 195,000 jobs in June and hiring was more robust in the two previous months than earlier estimated.',
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			'id' => '1336',
			'article_category_id' => '139',
			'title' => 'WB Hopes To Continue Egypt Programs',
			'sub_title' => '',
			'summary' => null,
			'content' => '<p>
	<span style="font-size: 12px;">The World Bank hopes to continue its programs in Egypt following the military ousting of the country’s first democratically elected leader, bank president Jim Yong Kim told reporters on Thursday during a visit to Chile.The bank, which Kim said has a $4.7 billion loan program for Egypt, is still trying to understand the situation in the country, he added. (Agency)</span></p>',
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			'description' => 'The World Bank hopes to continue its programs in Egypt following the military ousting of the country’s first democratically elected leader',
			'sortorder' => '1198',
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			'id' => '1335',
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			'title' => 'Former Olympus Executives Sentenced',
			'sub_title' => '',
			'summary' => null,
			'content' => '<p>
	<span style="font-size: 12px;">Three former executives of Olympus have been given suspended jail terms for their roles in an accounting scandal. Former chairman Tsuyoshi Kikukawa and executives Hisashi Mori and Hideo Yamada pleaded guilty last year to charges of falsifying accounts to cover up losses of $1.7bn (£1.1bn).Mr Kikukawa and Mr Yamada were given three-year sentences and Mr Mori a two-and-a-half-year sentence. (BBC)</span></p>
<div>
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			'description' => 'Three former executives of Olympus have been given suspended jail terms for their roles in an accounting scandal.',
			'sortorder' => '1197',
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		'Article' => array(
			'id' => '1334',
			'article_category_id' => '139',
			'title' => 'China Becomes World’s 2nd Largest Retail Market',
			'sub_title' => '',
			'summary' => null,
			'content' => '<p class="MsoNormal">
	<span style="font-size:9.0pt;line-height:115%;mso-bidi-font-family:
&quot;Myriad Pro&quot;;color:#221E1F">China becomes the world’s second largest retail market after the United States as its retail trade volume doubled to 21 trillion yuan (US$3.44 trillion) in 2012, from 10.8 trillion (US$1.77 trillion) in 2008, according to the latest data released by the Ministry of Commerce on Thursday. (Xinhua)<o:p></o:p></span></p>',
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			'description' => 'China becomes the world’s second largest retail market after the United States',
			'sortorder' => '1196',
			'image' => null,
			'article_date' => '0000-00-00 00:00:00',
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	(int) 5 => array(
		'Article' => array(
			'id' => '1333',
			'article_category_id' => '161',
			'title' => '‘Women Are Sincere In Business’',
			'sub_title' => '',
			'summary' => null,
			'content' => '<p>
	<span style="font-size: 12px;">Astha Thapa Pande is the Executive Director of TEWA. Pande talked with Suraksha Adhikari of The Corporate regarding the philosophies her organization has adopted and current scenario of women entrepreneurship in Nepal. <strong>Excerpts:</strong></span></p>
<p>
	<strong>Your organisation claims it is focusing on self-reliant development. Would you please elaborate?&nbsp;</strong></p>
<div>
	<img alt="Astha Thapa Pande,Executive Director of TEWA." height="223" src="https://lh6.googleusercontent.com/-NzNX38m46j0/UdqmjtKBAcI/AAAAAAAAA-U/aBRL4mpnMWo/s489/astha.jpg" style="float: right; margin: 0px 0px 0px 10px;" width="215" /></div>
<p>
	Tewa was founded in 1995 in a context where development was entirely driven by foreign aid. New organizations were sprouting but many were allowing their organizational missions to be dictated by what funds were available. At such a time, Tewa was set up, not just as an organization, but as an idea that self-reliance is possible, that we can and must partake in our own development, and that resources can be mobilized locally. Tewa has shown that this can be done, and Nepalis have donated both their money and their time to the cause of women these past nearly two decades since Tewa was established.&nbsp;</p>
<p>
	In today’s context Tewa feels that there is much more thinking and doing to be done with regards to self-reliant development and Tewa is striving yet again to set an example through its physical endowment (land and building) project. The Tewa Centre, which is now nearing completion is a revenue generating centre that will ultimately make Tewa, the women’s fund, far more self-reliant with its focus on raising funds primarily to give grants for women’s rights and empowerment.&nbsp;</p>
<p>
	<strong>So, your organization has decided to not be donor dependent. How difficult is it to execute such decision?&nbsp;</strong></p>
<p>
	I would approach donor dependence as a concept with caution, so there are no misunderstandings. Tewa is not opposed to donors, but wants to encourage organisations to set their own mission and vision, principles and values and not be swayed or change simply for the sake of funding.</p>
<p>
	<strong>What difficulties are women facing regarding entrepreneurship in Nepal?&nbsp;</strong></p>
<p>
	Most of the females in Nepal are uneducated as a result of which their decisions are not given priority in the family. Similarly, the main reason of Nepali women lagging behind in entrepreneurship is poor access to finance. The landed assets are not owned by them because of which they don’t get opportunity to invest in the sector they want to. Though their level has increased in terms of economy and business, there is still much to improve.</p>
<p>
	<strong>How do you evaluate the present status of women entrepreneurship in Nepal?&nbsp;</strong></p>
<p>
	Women are seen increasing their independency level and seeking for self employment. As far as we see, women are capable of being successful entrepreneurs as they are sincere in their business. They are being educated which makes them able to use that available finance in business. Women are also introducing themselves as social entrepreneurs as they come up with their ideas and form a group in a society to provide employment opportunities to other females.</p>
<div>
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			'description' => 'Astha Thapa Pande is the Executive Director of TEWA. Pande talked with Suraksha Adhikari of The Corporate regarding the philosophies her organization has adopted and current scenario of women entrepreneurship in Nepal.',
			'sortorder' => '1195',
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	(int) 6 => array(
		'Article' => array(
			'id' => '1332',
			'article_category_id' => '138',
			'title' => 'MDGs Are Within Reach : Report',
			'sub_title' => '',
			'summary' => null,
			'content' => '<p>
	<span style="font-size: 12px;">Thirteen years after the world set the Millennium Development Goals (MDGs), countries have made big strides to meet the eight anti-poverty targets by their 2015 deadline, says a United Nations report released last Monday, which stresses that the unmet goals are still within reach, but nations need to step up their efforts to achieve them.&nbsp;</span></p>
<p>
	Agreed upon by world leaders at a UN summit in 2000, the MDGs set specific targets on poverty alleviation, education, gender equality, child and maternal health, environmental stability, HIV/AIDS and malaria reduction, and a global partnership for development.&nbsp;</p>
<p>
	The Millennium Development Goals Report 2013 shows how the combined actions of governments, civil society and the private sector have made substantial progress in meeting many of the targets, while also pointing out which areas are falling behind and require immediate attention.&nbsp;</p>
<p>
	The targets that have already been met include halving the number of people living in extreme poverty and providing more than two billion people with access to improved sources of drinking water.&nbsp;</p>
<p>
	Countries have also made great strides on health targets, and are within close reach of achieving them by 2015. These include reducing the mortality rates from malaria and tuberculosis and stopping HIV infections. Other areas where progress has been significant include the reduction of people suffering from undernourishment and the decline of the proportion of slum dwellers in cities.&nbsp;</p>
<p>
	The report also states that the global economic crisis has left millions unemployed, and has reduced the amount of development aid for those countries that are most in need. In spite of these developments, the report urges sustained momentum, noting that countries will have to build on MDG achievements when they decide on a post-2015 agenda.</p>
<table border="0" cellpadding="25" width="99%">
	<tbody>
		<tr>
			<td bgcolor="#E5E4E2">
				<p>
					<strong>‘South Asia on Track to Achieve Targets’&nbsp;</strong></p>
				<p>
					<span style="font-size: 12px;">According to the report, South Asia as a whole is on track for nine MDG indicators, Sri Lanka is on track for 15 indicators and outperforms the sub-region. The report also said extreme poverty rates have been halved for Eastern Asia, South-Eastern Asia and Southern Asia, five years ahead of the deadline, though with the exception of India. The report found that South-Eastern Asia reached hunger reduction target ahead of 2015 deadline. However, South Asia is lagging behind. As per the report, in South Asia considerable progress has been made in primary school enrolment that increased to 93 per cent from 78 per cent during 2011 and 2000. It said the region saw the greatest increases in youth literacy rates between 1990 and 2011 from 60 to 81 per cent.</span></p>
			</td>
		</tr>
	</tbody>
</table>
<p>
	 </p>
<table border="0" cellpadding="20" width="99%">
</table>
<p>
	 </p>',
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			'description' => 'Thirteen years after the world set the Millennium Development Goals (MDGs), countries have made big strides to meet the eight anti-poverty targets by their 2015 deadline',
			'sortorder' => '1194',
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	(int) 7 => array(
		'Article' => array(
			'id' => '1331',
			'article_category_id' => '137',
			'title' => 'India Eases Power Import',
			'sub_title' => '',
			'summary' => null,
			'content' => '<p>
	<span style="font-size: 12px;">In a significant move, the Central Government of India has decided to free the import of electricity. It has now been decided to allow import of power without the need for authorisation from the central government, according to a news report given by Business Line Daily. The move to “free’’ import of electricity was announced through a notification by India’s Union Ministry of Commerce and Industry on Friday evening. The “freeing of import’’ is done through an amendment in the import policy of electrical energy. The move comes even as the country is facing severe power shortage. “Import of electrical energy will not require authorisation,” Director General of Foreign Trade (DGFT) said in a notification. It said that the “import policy of electrical energy is revised from ‘restricted’ to ‘free’.”</span></p>
<p>
	<strong>Gross generation&nbsp;</strong></p>
<p>
	<img alt="India Eases Power Import" height="147" src="https://lh6.googleusercontent.com/-Z8RB3jZPNz4/UdqmleX6j6I/AAAAAAAAA-w/FB6L_s8sXqk/s543/power.jpg" style="float: left; margin: 0px 10px 0px 0px;" width="197" /></p>
<p>
	The gross electricity generation in India from various conventional energy sources during April 2012-January 2013 was 7,62,7668 million units, as against the target of 7,71,866 million units, says a report by Indian news agency PTI. This generation is mainly from thermal, hydro and nuclear sources and import of hydro power from Bhutan during 2012- 13. Nuclear power registered a generation of 27,450 million units as compared to the target of 35,200 million units. The hydro power generation during the period was 99,071 million units as against the target of 1,22,045 million units. India imported 4,710 million units of hydro power from Bhutan against the target of 5,480 million units.</p>
<table border="0" cellpadding="25" width="99%">
	<tbody>
		<tr>
			<td bgcolor="#E5E4E2">
				<p>
					<strong><span style="font-size:14px;">‘Big Opportunity for Nepal’&nbsp;</span></strong></p>
				<p>
					The Nepali private power producers welcomed the Indian government’s decision as a ‘big opportunity’. ‘Indian government decision is very supportive,’ says Gyanendra Lal Pradhan, Chairman of the Energy Committee of Federation of Nepalese Chambers of Commerce and Industry (FNCCI). The Nepali power producers have been lobbying for electricity import into India. ‘The joint team of FNCCI and Confederation of Indian Industry (CII) has long been reiterating this issue,’ Pradhan mentioned.&nbsp;</p>
				<p>
					The export of electricity to India is seen as one of the biggest trading potential of Nepal. Nepal is expected to enjoy surplus energy after the completion of ongoing hydle projects across the country by 2017. But, to benefit from this opportunity to export power to India, the various hurdles caused by political uncertainty and absence of investment friendly environment in Nepal need to be removed. The lack of nationwide power transmission network is also blamed as another hindrance to electricity export to India. ‘A clear national policy is needed to encourage and facilitate the power producers,’ Pradhan said. According to him, establishment of power trading company based on public-private-partnership model could pave the way for exporting the surplus electricity. ‘Similarly, the 30 year old existing policy on transmission line needs to be revised as well,’ he added. Pradhan also suggested de-regulation of power sector as different rules and regulations weigh on the development of new projects.</p>
				<div>
					 </div>
			</td>
		</tr>
	</tbody>
</table>
<p>
	 </p>
<table border="0" cellpadding="20" width="99%">
</table>
<p>
	 </p>',
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			'created' => '2013-07-08',
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			'description' => 'In a significant move, the Central Government of India has decided to free the import of electricity.',
			'sortorder' => '1193',
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	(int) 8 => array(
		'Article' => array(
			'id' => '1330',
			'article_category_id' => '135',
			'title' => 'Can The New Government Change Any Policy?',
			'sub_title' => '',
			'summary' => null,
			'content' => '<p style="">
	<font face="arial, helvetica, sans-serif">The government is going full swing in preparation to bring out the government budget for the fiscal year that starts on July 16. In this process, the government is also preparing to change some policies. However, there are views that argue that as this government’s mandate is only to hold the coming elections, it must not change any of the existing policies. The Corporate talked with some experts about the issue. Excerpts:</font></p>
<p style="">
	 </p>
<p>
	<span style="font-size:12px;"><span style="font-family: arial, helvetica, sans-serif;"><strong><img alt="Dr Chiranjibi Nepal,Principal Advisor,Ministry of Finance" height="154" src="https://lh4.googleusercontent.com/-tbX4iUnBeMI/UdqSwI79ZHI/AAAAAAAAA9Q/WbppY81OG8c/s154/Dr%2520Chiranjibi%2520Nepal.jpg" style="float: left; margin: 0px 10px 0px 0px;" width="133" /></strong></span></span></p>
<p>
	<font face="arial, helvetica, sans-serif"><b>Dr Chiranjibi Nepal&nbsp;</b></font></p>
<p>
	<font face="arial, helvetica, sans-serif">Principal Advisor&nbsp;</font></p>
<p>
	<font face="arial, helvetica, sans-serif">Ministry of Finance&nbsp;</font></p>
<p>
	<font face="arial, helvetica, sans-serif">The present government can definitely change the existing policies as required and bring new programmes. The 25-point agreement between the major political parties while appointing this government has cleared the way to introduce budget by this government with necessary changes in policies. It is very important to bring budget in time or else the economic growth rate will be hampered. The government has set the target of 7 per cent economic growth by 2015 and it is possible only if the existing government can change some policies as required to expedite capital expenditure. I think, major political parties agree on this.</font></p>
<p style="">
	<span style="font-size:12px;"><span style="font-family: arial, helvetica, sans-serif;"><br />
	</span></span></p>
<p style="">
	 </p>
<p>
	<span style="font-size:12px;"><span style="font-family: arial, helvetica, sans-serif;"><strong><img alt="Dr Chandra Mani Adhikari,Economist" height="154" src="https://lh3.googleusercontent.com/-D4KjA3oW-Sg/UdqSwHmogLI/AAAAAAAAA9I/HrJV-OS51jU/s291/Dr%2520Chandra%2520Mani.jpg" style="float: left; margin: 0px 10px 0px 0px;" width="133" /></strong></span></span></p>
<p class="Pa18" style="">
	<span style="font-size:12px;"><span style="font-family: arial, helvetica, sans-serif;"><strong><span style="color: rgb(34, 30, 31);">Dr Chandra Mani Adhikari<span class="Apple-tab-span" style="white-space: pre;"> </span></span></strong></span></span></p>
<p class="Pa18">
	<font color="#221e1f" face="arial, helvetica, sans-serif">Economist&nbsp;</font></p>
<p class="Pa18">
	<font color="#221e1f" face="arial, helvetica, sans-serif">In my opinion, this government cannot change the existing policies. The government should bring full budget to ensure effective expenditure planning in the coming fiscal year. The government, however, should not be ambitious and bring the budget in a manner that an elected government does. I think the government should take care of at least three issues. It should not introduce new programmes, it should not change policies and should not initiate big projects. Similarly, the government should not make the size of budget too large. In the revenue front, government cannot change the existing revenue policy but it can change tax rates, if needed.</font></p>
<p class="Pa18" style="">
	<span style="font-size:12px;"><span style="font-family: arial, helvetica, sans-serif;"><span style="color: rgb(34, 30, 31);"><br />
	</span></span></span></p>
<p class="Pa18" style="">
	<span style="font-size:12px;"><span style="font-family: arial, helvetica, sans-serif;"><br />
	</span></span></p>
<p style="">
	 </p>
<p>
	<span style="font-size:12px;"><span style="font-family: arial, helvetica, sans-serif;"><strong><img alt="Hariraj Khewa Limbu,Former Minister of State for Finance" height="154" src="https://lh6.googleusercontent.com/-W0eUyWktWIE/UdqSwN4jIaI/AAAAAAAAA9U/c8kYEHsiZ6s/s287/Hariraj%2520Khewa%2520Limbu.jpg" style="float: left; margin: 0px 10px 0px 0px;" width="133" /></strong></span></span></p>
<p style="">
	<span style="font-size:12px;"><span style="font-family: arial, helvetica, sans-serif;"><strong>Hariraj Khewa Limbu,</strong></span></span></p>
<p>
	<font face="arial, helvetica, sans-serif">Former Minister of State for Finance&nbsp;</font></p>
<p>
	<font face="arial, helvetica, sans-serif">This government does not have the right to change the existing policies, and it should adhere to the ones adopted by the Baburam Bhattarai-led government. The government should solely focus on the Constituent Assembly elections. The primary concern for now is to form a good Constituent Assembly. This government’s only responsibility to hold election. It does not have any right to bring new programmes and policies. Moreover, as the focus should be on the elections, the government does not have time to effectively formulate new policies and monitor them, which might lead to corruption. There will be no mechanism to check corrupt activities in the absence of an elected body.</font></p>
<div>
	 </div>',
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	(int) 9 => array(
		'Article' => array(
			'id' => '1329',
			'article_category_id' => '136',
			'title' => 'Target 7 Percent Growth',
			'sub_title' => '',
			'summary' => null,
			'content' => '<table border="0" cellpadding="0" cellspacing="10" width="100%">
	<tbody>
		<tr>
			<td valign="top" width="50%">
				<p>
					 </p>
				<p>
					<strong><img alt="Anil Gyawali
CEO,Nabil Bank" height="150" src="https://lh6.googleusercontent.com/-lC0nR4o0S24/UdqSxH0H0QI/AAAAAAAAA9c/xQzARnETuuo/s290/anil.jpg" style="float: left; margin: 0px 10px 0px 0px;" width="125" /></strong></p>
				<p>
					<strong>Anil Gyawali &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp;&nbsp;</strong><span style="font-size: 12px;">CEO &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp;</span><span style="font-size: 12px;">Nabil Bank</span></p>
				<p>
					 </p>
				<p>
					To attain economic growth, the government should make proper use of opportunities and promptly address the challenges. Stability in policies is most important for Nepal now. Frequent changes in government will never help attract investment. There are three major areas that need to be prioritised: agriculture, manufacturing and service-oriented businesses. Recently, Nepal Rastra Bank (NRB) came up with a policy to make it mandatory for banks to invest 10 per cent of their money in agricultural sector. This can be done for tourism as well.</p>
				<p>
					 </p>
				<p>
					 </p>
			</td>
			<td valign="top" width="50%">
				<p>
					<strong><img alt="Dharma Raj Pandey,President,Nepal Microfinance Bankers Association
(NMBA)" height="150" src="https://lh6.googleusercontent.com/-sqeT-jquh2A/UdqSyI7vQGI/AAAAAAAAA9k/5jT3-mCWtF8/s285/dharma.jpg" style="float: left; margin: 0px 10px 0px 0px;" width="125" /><br />
					</strong></p>
				<p>
					<strong>Dharma Raj Pandey &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp;&nbsp;</strong><span style="font-size: 12px;">President &nbsp;&nbsp;</span><strong style="font-size: 12px;">&nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp;</strong><span style="font-size: 12px;">Nepal Microfinance Bankers Association &nbsp;</span><span style="font-size: 12px;">&nbsp;</span><span style="font-size: 12px;">&nbsp;</span><span style="font-size: 12px;">(NMBA)</span><strong style="font-size: 12px;">&nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp;&nbsp;</strong></p>
				<p>
					<span style="font-size: 12px;">Agriculture holds the key to achieving 7 per cent economic growths in Nepal. There are a few steps that the government could take to modernise agriculture. First of all, it should commission research on ways to capitalise on agricultural products. Secondly, modern technology should be made accessible to the farmers. After doing that, new industries that use agro products as raw materials can be set up. This ultimately will contribute towards economic development. In addition to this, the government should invest in infrastructure, especially in transportation. Similarly, foreign investment needs to be sought in areas of hydropower and tourism.</span><strong style="font-size: 12px;">&nbsp;&nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp;&nbsp;</strong><span style="font-size: 12px;">&nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp;&nbsp;</span><span style="font-size: 12px;">&nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp;&nbsp;</span></p>
				<div>
					 </div>
			</td>
		</tr>
	</tbody>
</table>
<p>
	 </p>',
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			'description' => 'To attain economic growth, the government should make proper use of opportunities and promptly address the challenges.',
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	(int) 10 => array(
		'Article' => array(
			'id' => '1328',
			'article_category_id' => '134',
			'title' => '‘No To Another Merger Right Now’',
			'sub_title' => '',
			'summary' => null,
			'content' => '<table align="right" border="0" cellpadding="1" cellspacing="1">
	<tbody>
		<tr>
			<td>
				<img alt="Tulasi R. Gautam,CEO,MachhapuchchhreBank Limited" height="209" src="https://lh4.googleusercontent.com/-M_eOSiFZvNc/UdqK3UNMT2I/AAAAAAAAA8o/wwW6sZVBcN0/s512/Tulasiu.jpg" width="200" /></td>
		</tr>
		<tr>
			<td style="text-align: center;">
				<b>Tulasi R. Gautam<br />
				</b>CEO<br />
				Machhapuchchhre Bank Limited</td>
		</tr>
	</tbody>
</table>
<p>
	<strong>Tulasi R. Gautam</strong>, CEO, Machhapuchchhre Bank Limited (with which Standard Finance Ltd was merged on 9th July 2012) talks to The Corporate’s Yagya Banjade and Sweta Sharma about the achievements of his bank and the overall situation of commercial banks in Nepal. <strong>Excerpts:</strong></p>
<p>
	<strong>It has been a year since the merger of Standard Finance into Machhapuchchhre Bank. How has that merger helped?&nbsp;</strong></p>
<p>
	It was the largest merger of two independent organizations in Nepal till recently. And the results to date are good. We received quite good response from the market. All the assimilation was done before I joined the bank. The most encouraging point is the branch network. We now have 54 branches with one extension counter and 65 ATMs covering 29 districts. Talking about business, the loan rate was 16 billion and today it is 21 billion. I call this ‘an average growth’ in the context of our banking sector. We have more than 350,000 customers. According to our latest data (1st July 2013), we have 21.16 billion loan outstanding, 25.51 billion in deposits and the CDC ratio is 76.25 per cent. We have paid up capital of 2.47 billion. Considering all this, I can say we are doing quite well.</p>
<p>
	<strong>If Nepal Rastra Bank (NRB) really asks banks to increase the paid up capital further, what will be the situation of your bank?&nbsp;</strong></p>
<p>
	NRB will definitely give a time frame to banks for increasing the paid up capital. Some banks may be able to generate the capital on their own. Those who cannot will opt for merger.&nbsp;</p>
<p>
	<strong>The financial condition of your bank does not seem to have improved very much after the merger. What is the reason?&nbsp;</strong></p>
<p>
	It is not necessary that after merger the financial condition should improve drastically. The merger adds figures on some parameters and that definitely has helped uplift the financial condition of the bank. The board of directors and the management team contribute equally to uplift the situation of a bank.&nbsp;</p>
<p>
	<strong>In the third quarter of current fiscal year, your bank’s bad debt was 2.73 per cent which is considered high. What do you think about it?&nbsp;</strong></p>
<p>
	Yes, this year we are looking for improvements. After merger, there have cropped up several issues that need to be settled and we are working in managing that. I believe that a bad debt of 2.73 per cent is quite high and in next year we will reduce it to 1.5 per cent.</p>
<p>
	<strong>You brought into some staff from Nepal SBI into Machhapuchchhre in a number of key positions. Are more people coming?&nbsp;</strong></p>
<p>
	There were enough staffs when I entered this bank. But for few key posts we needed some new employees. So four people from Nepal SBI and one from Sanima came and joined us. But it was not pre-planned.&nbsp;</p>
<p>
	<strong>Staffs that were earlier in Standard Finance are working in Machhapuchchhre two levels below where they were in Standard Finance. What has been the repercussion of that demotion?&nbsp;</strong></p>
<p>
	It cannot be called a demotion. We can call it ‘adjustment of the post’ and that adjustment was at maximum to two levels considering the profiles of the individuals. None of the staff have left the organization due to this reason. This issue was being settled in a participatory manner among staffs themselves before I was appointed.</p>
<p>
	<strong>After the merger there is generally chaos among the staffs. How did you manage it?&nbsp;</strong></p>
<p>
	When two organizations merge, the work culture also gets merged and there will be problems in hierarchy. The major difference is in the system as both organizations have their own system of working. In this situation, there should be high level of understanding among staffs. In my view, if the merger is between organization of similar level then there will not be any problem except in the CEO level. Next point I learnt is that if the merger is going to happen, staffs will feel some sort of insecurity about their job. But a proper communication will remove that feeling of insecurity. Transparency in the system will help.</p>
<p>
	<strong>How do you evaluate the present situation of commercial banks?&nbsp;</strong></p>
<p>
	Some banks which have huge investments in real estate are facing some problems in loan recovery. Few banks which solely focus on banking are doing good. Overall, in my view, the situation of commercial banks is quite good.&nbsp;</p>
<p>
	<strong>What are the existing problems in the banking sector?&nbsp;</strong></p>
<p>
	The first and foremost problem is our unstable economy. The liquidity is highly fluctuating and unpredictable. If the government budget comes in time, things might go smoothly for banks as well. We need new avenues for lending with new business coming in the market.</p>
<p>
	<strong>It is said that banking sector suffers lack of skilled manpower. Is it true?&nbsp;</strong></p>
<p>
	It is not like that. We are doing a good business for long. That would not have been possible without skilled manpower. For past three years, new commercial banks have not started as NRB has stopped giving license to new commercial banks. This shows that till now there are skilled people who are operating banks quite well.&nbsp;</p>
<p>
	<strong>These days the operational risks are getting high in banking sector. How do you consider this?&nbsp;</strong></p>
<p>
	It is due to some promoters working for their own benefit. Next reason could be reckless lending. The software and system are also responsible for increase in the operational risk.&nbsp;</p>
<p>
	<strong>Nepal Rastra Bank has drawn the line between bankers and businessmen. What are your comments on this?&nbsp;</strong></p>
<p>
	It would have been better if in the first place businessmen were not allowed to enter banking sector at all. Initially they opened the door and now they want the businessmen out. This has created some discomfort but overall this directive from NRB might be for the good of banking sector though it is yet to be finalized.</p>
<p>
	<strong>What is the likelihood of further mergers with Machhapuchchhre as one of the parties?&nbsp;</strong></p>
<p>
	Some developmental banks and financial institutions have approached us with merger proposals. But as we are just fine tuning the organization after the merger of Standard Finance into us, we are not moving towards another merger for now.</p>
<div>
	 </div>
<table align="right" border="0" cellpadding="1" cellspacing="1">
</table>
<p>
	 </p>',
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			'description' => 'Tulasi R. Gautam, CEO, Machhapuchchhre Bank Limited (with which Standard Finance Ltd was merged on 9th July 2012) talks to The Corporate’s Yagya Banjade and Sweta Sharma about the achievements of his bank and the overall situation of commercial banks in Nepal.',
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		'Article' => array(
			'id' => '1327',
			'article_category_id' => '122',
			'title' => 'DJPL: The Promise Of Quality Assurance',
			'sub_title' => '',
			'summary' => null,
			'content' => '<p>
	<strong style="font-size: 12px;">--By Gaurav Aryal</strong></p>
<p>
	Deurali Janta Pharmaceuticals Pvt Ltd (DJPL), a leading pharmaceutical company inaugurated Nirog, a primary care division of the company in the last week of June, 2013. Hari Bhakta Sharma, Executive Director of DJPL said that the new division has been set-up with an aim of import substitution of the drugs mostly in such segments as muscular inflammation, pain and emergency management. He also said that the Nirog division’s primary objective is to supply high quality drugs to Nepalis while the company exploits its capacity to explore opportunities in the international markets.</p>
<table align="right" border="0" cellpadding="1" cellspacing="1">
	<tbody>
		<tr>
			<td>
				<img alt="Hari Bhakta Sharma,Executive Director,Deurali Janta Pharmaceuticals Pvt Ltd" height="292" src="https://lh4.googleusercontent.com/-_sN1XhOnF5Q/UdqBJ6WyYMI/AAAAAAAAA7w/Br7QQfKeL3Q/s512/1212121.jpg" width="250" /></td>
		</tr>
		<tr>
			<td style="text-align: center;">
				<b>Hari Bhakta Sharma,<br />
				</b>Executive Director<br />
				Deurali Janta Pharmaceuticals Pvt Ltd</td>
		</tr>
	</tbody>
</table>
<p>
	Sharma explained that drugs mostly in these three segments are being imported heavily. Apart from seeking ways for import substitution, he said, “We are looking for exporting our products to foreign markets while we build our capacity.”&nbsp;</p>
<p>
	<span style="font-size: 12px;">According to Sharma, this new division was established as a part of the company’s objective to produce medicines that help promote healthier living and prevent people from catching diseases. The company is dedicated to stabilise this newly established division before coming up with a new venture. DJPL has been launching a new division in every two to three years. Sharma said, “Pharmaceutical industry is all about a dynamic life science that is changing so fast that today’s technology becomes obsolete next day. To boost business competitiveness and mitigate product lifecycle, we need to do something new.” At the same time, companies like DJPL are realising the responsibility to substitute huge imports of drugs.</span></p>
<p>
	<strong>Export Dilemma&nbsp;</strong></p>
<p>
	The export of drugs is being talked for a couple of years, but it is yet to be realised. “There are markets where we cannot compete. Also, at times the cost of production and cost of quality compliance is greater than the rate of return. In such markets, we drop the idea of export,” he said, adding, “In those markets where we want to compete, there are so much of regulatory barriers, and it is painfully time taking to meet all the requirements.” He said that DJPL and some other pharmaceutical companies are in a process of meeting all the requirements. According to Sharma, unlike in any other commodity, every pharma product and every production unit must be registered in the target country before starting exports there because drugs are considered highly sensitive as it is directly related to the human health. Countries have strict policy to regulate drugs import. Moreover, Sharma said that the Nepali companies are becoming extra cautious before making any export commitments because of the unfavourable environment in Nepal to run manufacturing bases.</p>
<p>
	<strong>Product Diversification&nbsp;</strong></p>
<p>
	The DJPL has been adding new plants and divisions to come up with a new range of products. According to Sharma, the company has always been in a drive to product development. Apart from having a strong foothold in the d o m e s t i c market, the company is searching for favourable overseas markets. Therefore, every move of the company is targeted towards product development, capacity building and boosting competitiveness.&nbsp;</p>
<p>
	<img alt="Product Diversification DJPL" height="380" hspace="45" src="https://lh6.googleusercontent.com/-WeIbYRuJ6Ds/UdqACYgmqgI/AAAAAAAAA7A/V4pM4d3MsrU/s600/DSC06828.jpg" width="500" /></p>
<p>
	Sharma revealed that the company is planning to work also on the natural products. The DJPL is planning to establish a new plant in Chitwan and has hired a consultant for technical and physical infrastructure development required for starting the operation. But he also hinted that it would almost take a decade before this unit starts its production. “We have talked a lot about Nepal’s richness on herbs and medicinal plants. The government is seen ineffective in materialising Nepal’s richness on natural products. So, it is us, the private sector who must be doing something there,” he explained. Sharma further added that the company is working on it and DJPL is always committed to quality assurance as it is related with medicines and human health.&nbsp;</p>
<p>
	Similarly, the company had come up with Aarogyam, a derma care division on August 2011. This division manufactures products especially for skin, eye and dental diseases. The company had set up this manufacturing unit on the occasion of DJPL’s 20th anniversary with an investment of Rs 50 million. This unit produces antifungal, antibacterial and anti-inflammatory products for treatment of skin diseases among others. Clomigen, Solbet, Conaz and Flutipro are some of the ointments manufactured by Aarogyam.</p>
<p>
	The company is focused on manufacturing drugs related with infections, cardiology, women’s health, and infectious diseases. The company has been in the quest to develop and produce drugs popularly in demand also in the international market. Sharma believes, “Our investment in technologies and products will allow us expand to new therapeutic segments necessary for healthier living of people.”</p>
<p>
	<strong>Market Presence&nbsp;</strong></p>
<p>
	Having over two decades of presence in the Nepali market, DJPL has established itself as a leading pharmaceutical company. The company claims that it has achieved this position because of its belief and commitment to quality products with affordability, use of cutting edge technology and a promise to offer better service to customers. DJPL has become a part of healing with its range of 220 products.&nbsp;</p>
<p>
	<img alt="Market Presence DJPL" height="328" hspace="45" src="https://lh4.googleusercontent.com/-daVArC3YRVc/UdqFiVPgoII/AAAAAAAAA8M/No9yrqm5mPE/s600/AHU Room Photo (Copy).jpg" width="500" /></p>
<p>
	Sharma claimed that DJPL holds five per cent share of the total size of pharmaceutical market of Nepal. There are 45 Nepali companies and 258 foreign companies present in the Nepali market. Similarly, the size of the Nepali pharmaceutical market is estimated to be of Rs 16.7 billion. Likewise the pharmaceutical industry of Nepal has created a direct employment for 9,650 people, according to Quantification Study 2011 on Pharmaceutical Markets.&nbsp;</p>
<p>
	The company is using 60 per cent of its installed production capacity. DJPL has plans to utilise rest of the capacities to produce life saving medicines related to ailments of the heart, kidney, nerve and psychological complexities. The company says that it is conducting studies to understand the market feasibility so that it can utilise its 40 per cent production capacity that is not in use at the moment.</p>
<p>
	<strong>Quality Assurance&nbsp;</strong></p>
<p>
	DJPL has a total investment of Rs 870 million. According to Sharma, the company aims to produce best quality medicines at affordable cost. The use of ultra modern technology is also part of the company’s goals and also a contribution to Nepal’s industrial and economic development. “Quality assurance is the topmost priority of DJPL. Our Quality Assurance Department works independently with the support from Quality Control Department that has sophisticated technology along with highly qualified and trained personnel,” Sharma said. It also operates a full-fledged microbiological testing facility, which is in line with international standards.</p>
<p>
	<img alt="Quality Assurance DJPL" height="378" hspace="45" src="https://lh5.googleusercontent.com/-SpXVeXlb0gU/UdqACV-htDI/AAAAAAAAA7Q/nsWfVy86KKs/s600/DSC06817.jpg" width="500" /></p>
<p>
	Sharma claimed that DJPL is one of the pharmaceutical companies that invest heavily in research and development. The company has its own state of the art Research and Development Centre. The centre was inaugurated on January 2011. “We aim to develop new products matching the fast paced development of the 21st century alongside periodic updates to the formulas of all the drugs that we currently produce matching trends worldwide,” Sharma explained.</p>
<table border="0" cellpadding="30" style="font-size: 12px;" width="99%">
	<tbody>
		<tr>
			<td bgcolor="#E5E4E2">
				<strong>Major Milestones</strong>
				<p>
					DJPL, a WHO-GMP, ISO 9001 and ISO 14001 certified company began its production from January 30, 1991 though it was established on June 23, 1988. The growth and expansion of the company has never slowed down. In 1995, company began technical collaboration with Renata Limited, a company from Bangladesh, another remarkable move for the company that helped it surge. Similarly, on August 2005, a new division Suswasthya, a systematic care division was brought into being.&nbsp;</p>
				<p>
					<img alt="OTC Generic Product" height="273" hspace="45" src="https://lh6.googleusercontent.com/-ELjnRcduyhM/UdqABX3qjNI/AAAAAAAAA60/oOfgOXw5-14/s600/1234 (Copy).JPG" width="500" /></p>
				<p>
					The never ending journey of success continued for DJPL. The company claims, it is the first Nepali company to be certified with ISO 9001 and ISO 14001. Company received this coveted recognition in 2003. A year later the company was awarded with WHO-GMP certification.</p>
				<p>
					<strong>Production capacity of DJPL (per shift)&nbsp;</strong></p>
				<p>
					Syrups : 10,00,000 litres&nbsp;</p>
				<p>
					Tablets : 10,00,00,000 pieces&nbsp;</p>
				<p>
					Capsules : 7,20,00,000 pieces&nbsp;</p>
				<p>
					Dry Powder : 3,00,000 kg&nbsp;</p>
				<p>
					Ointments : 1,00,00,000 tubes&nbsp;</p>
				<p>
					<strong>Employment Creation&nbsp;</strong></p>
				<p>
					Technical Personnel : 60&nbsp;</p>
				<p>
					Marketing Personnel : 80&nbsp;</p>
				<p>
					Administration/Finance : 45&nbsp;</p>
				<p>
					Highly skilled workers : 85&nbsp;</p>
				<p>
					Skilled workers : 55&nbsp;</p>
				<p>
					Semi-skilled workers : 25&nbsp;</p>
				<p>
					<strong>Total Investments&nbsp;</strong></p>
				<p>
					Fixed assets : Rs 54,42,00,000&nbsp;</p>
				<p>
					Current capital : Rs 32,58,00,000&nbsp;</p>
				<p>
					Total investment : Rs 87,00,00,000</p>
				<p>
					<strong>DJPL Product Range&nbsp;</strong></p>
				<p>
					Branded Generics: Systemic/Prescription&nbsp;</p>
				<p>
					Anti-hypertensive products (cardiovascular)&nbsp;</p>
				<p>
					Anti-infectives /Antibiotics&nbsp;</p>
				<p>
					Gastro-intestinal medicines&nbsp;</p>
				<p>
					Anti-diabetics/Liver protective&nbsp;</p>
				<p>
					Musculo-skeletal system medicines&nbsp;</p>
				<p>
					<strong>OTC-Generic Products&nbsp;</strong></p>
				<p>
					Analgesics, Antipyretics, Anti-inflammatory&nbsp;</p>
				<p>
					Anti-cold, anti-cough preparations&nbsp;</p>
				<p>
					Vitamin and mineral supplements&nbsp;</p>
				<p>
					Proteolytic enzymes</p>
				<p>
					Ointments (dermatology products)&nbsp;</p>
				<p>
					<strong>Production Capacity&nbsp;</strong></p>
				<p>
					Installed capacity usage: 60 per cent&nbsp;</p>
				<p>
					Additional capacity: 40 per cent&nbsp;</p>
				<p>
					<strong style="font-size: 12px;">Human Resource Management&nbsp;</strong></p>
				<p>
					<span style="font-size: 12px;">The company has always prioritised its staff members. DJPL has adhered to its policy to enhance employee’s skills and capacity building. According to Sharma, that attempt will provide socio economic benefits to employees. Currently there are 350 employees. Executive Director Sharma said, “DJPL comprises of young, energetic and dedicated professionals who have the expertise, knowledge and perception to bring about latest technologies in pharmaceuticals manufacturing.” He also added that the company is constantly exercising critical thinking to maintain professional competence for excelling the quality of its products. The company has been devoted to enhance the work skills and knowledge of staff members through trainings, experience and exposure within and outside Nepal.</span></p>
				<div>
					 </div>
			</td>
		</tr>
	</tbody>
</table>
<p>
	 </p>
<table border="0" cellpadding="20" width="99%">
</table>
<p>
	 </p>',
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			'description' => 'Deurali Janta Pharmaceuticals Pvt Ltd, one of the prominent pharmaceutical companies of Nepal,
known for its quality products, has been prioritising import substitution for the domestic market while
enhancing capacity for tapping the foreign markets.',
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			'title' => 'A Target 6% Growth Rate',
			'sub_title' => '',
			'summary' => null,
			'content' => '<p>
	<strong><span style="font-size: 12px;">-- By TC Correspondent</span></strong></p>
<p>
	<span style="font-size: 12px;">The meeting of the National Development Council (NDC) held on July 5-6 in Kathmandu concluded by fixing the target of 6% annual growth rate during the 13th development plan period (2070-73). The two day meeting was attended by experts, leaders of political parties and top bureaucrats. The approach paper to the three-year plan approved by the meeting aims to upgrade Nepal to the status of Developing Country by 2022 from the existing Least Developed Country (LDC). To attain the 6% growth rate, the plan focuses on agricultural growth rate of 4.5% per annum while the target is 6.7% growth rate per annum in non-agricultural sector. These growth rates are expected to trigger employment growth rate of 3.2% per annum, reducing population living below the poverty line to 18%. Effective mobilization of public, private and cooperative sector is the major strategy to achieve the set targets.</span></p>
<p>
	Development of physical infrastructure, expansion of social services, enhancement of good governance in public and other sectors and inclusive and sustainable development are the other priorities. Similarly, development of hydropower and energy sectors, commercialization and diversification of agricultural sector, enhancement of farm productivity and increased access to basic education and health services, drinking water and sanitation are also among the programmes incorporated in the approach paper. The plan has also emphasized on the development of road, other physical infrastructure, tourism, industrial and trade sectors, along with conservation of natural resources and environment. The meeting also discussed about the hurdles in the aim to achieve the targeted development. Political crisis, energy crisis and lack of manpower are identified as the major potential challenges for industrial development.</p>
<p>
	The paper has formulated plans to spend a total Rs 1.62 trillion till 2015/16. Of this, Rs 960.69 billion will be spent to cover recurrent expenses, while Rs 277.94 billion is allocated for capital spending.</p>
<p>
	These expenses, according to the plan, would be met through estimated revenue collection of Rs 1.13 trillion in the three-year period, while the rest would be raised through domestic debt and grants and loans from development partners.</p>
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			'title' => 'Politics As Main Business Challenge',
			'sub_title' => '',
			'summary' => null,
			'content' => '<p>
	<strong>--By Upashana Neupane</strong></p>
<p>
	<span style="font-size: 12px;">Political instability has posed as the major critical challenge for Nepali economy, according to the Second Business Confidence Survey report released by Federation of Nepalese Chambers of Commerce and Industry (FNCCI).&nbsp;</span></p>
<p>
	The survey has also pointed out energy crisis and poor governance as the second and third critical challenges. Similarly, the survey stated that the corruption and frequent strikes are also hitting the economy hard.&nbsp;</p>
<p>
	There is a silver lining &nbsp;around this cloud too. Despite the challenge factors, the survey has revealed that the Nepali private sector felt more confident over the last six months. The survey measured the confidence &nbsp;of business people to have increased by nearly 10 points to 49.5, up from 39.7 six months earlier.&nbsp;</p>
<p>
	<span style="font-size: 12px;">Increased foreign trade, more convenience in securing &nbsp;loan and declining cost of production are the factors boosting the confidence of business people, the report said.</span></p>
<p>
	<span style="font-size: 12px;">The survey has showed that both confidence about &nbsp;the present (CSI) and optimism about the future (EI) have increased among the business community.&nbsp;</span></p>
<p>
	The survey has found that the Business &nbsp;Confidence Index (BCI) in the agricultural sector is the highest among the sectors of economy. However, the BCI of manufacturing is the lowest.</p>
<p>
	<span style="font-size: 12px;">The report, which incorporated responses from 420 business people from all districts, identified ten factors, including weak governance and energy crisis, as having affected business confidence in the country.</span></p>
<p>
	FNCCI had conducted the survey during March-May period and collected a total of 420 responses from all over the country covering all sizes of enterprises of agriculture, manufacturing and service sector.</p>
<div>
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	<span style="font-size: 12px;">Gold tumbled 3 percent on Friday after positive U.S. jobs data sent the dollar rallying and rekindled worries the Federal Reserve could be tempted to scale back its monetary stimulus later this year. The spot price of bullion dropped by as much as 3.3 percent to a session low of $1,207.50 an ounce. U.S. gold futures for August settled down 3.1 percent at 1,212.70 an ounce. (Agency)</span></p>
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	<span style="font-size: 12px;">US employers added 195,000 jobs in June and hiring was more robust in the two previous months than earlier estimated. The gains raise hopes for a stronger economy in the second half of 2013.The Labor Department said Friday that the economy also added 20,000 more jobs in May and 50,000 more in April than initially reported. The unemployment rate stayed at 7.6 percent, but for a good reason: More people started looking for work. (Agency)</span></p>
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	<span style="font-size: 12px;">The World Bank hopes to continue its programs in Egypt following the military ousting of the country’s first democratically elected leader, bank president Jim Yong Kim told reporters on Thursday during a visit to Chile.The bank, which Kim said has a $4.7 billion loan program for Egypt, is still trying to understand the situation in the country, he added. (Agency)</span></p>',
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	<span style="font-size: 12px;">Three former executives of Olympus have been given suspended jail terms for their roles in an accounting scandal. Former chairman Tsuyoshi Kikukawa and executives Hisashi Mori and Hideo Yamada pleaded guilty last year to charges of falsifying accounts to cover up losses of $1.7bn (£1.1bn).Mr Kikukawa and Mr Yamada were given three-year sentences and Mr Mori a two-and-a-half-year sentence. (BBC)</span></p>
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	<span style="font-size:9.0pt;line-height:115%;mso-bidi-font-family:
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			'description' => 'China becomes the world’s second largest retail market after the United States',
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			'title' => '‘Women Are Sincere In Business’',
			'sub_title' => '',
			'summary' => null,
			'content' => '<p>
	<span style="font-size: 12px;">Astha Thapa Pande is the Executive Director of TEWA. Pande talked with Suraksha Adhikari of The Corporate regarding the philosophies her organization has adopted and current scenario of women entrepreneurship in Nepal. <strong>Excerpts:</strong></span></p>
<p>
	<strong>Your organisation claims it is focusing on self-reliant development. Would you please elaborate?&nbsp;</strong></p>
<div>
	<img alt="Astha Thapa Pande,Executive Director of TEWA." height="223" src="https://lh6.googleusercontent.com/-NzNX38m46j0/UdqmjtKBAcI/AAAAAAAAA-U/aBRL4mpnMWo/s489/astha.jpg" style="float: right; margin: 0px 0px 0px 10px;" width="215" /></div>
<p>
	Tewa was founded in 1995 in a context where development was entirely driven by foreign aid. New organizations were sprouting but many were allowing their organizational missions to be dictated by what funds were available. At such a time, Tewa was set up, not just as an organization, but as an idea that self-reliance is possible, that we can and must partake in our own development, and that resources can be mobilized locally. Tewa has shown that this can be done, and Nepalis have donated both their money and their time to the cause of women these past nearly two decades since Tewa was established.&nbsp;</p>
<p>
	In today’s context Tewa feels that there is much more thinking and doing to be done with regards to self-reliant development and Tewa is striving yet again to set an example through its physical endowment (land and building) project. The Tewa Centre, which is now nearing completion is a revenue generating centre that will ultimately make Tewa, the women’s fund, far more self-reliant with its focus on raising funds primarily to give grants for women’s rights and empowerment.&nbsp;</p>
<p>
	<strong>So, your organization has decided to not be donor dependent. How difficult is it to execute such decision?&nbsp;</strong></p>
<p>
	I would approach donor dependence as a concept with caution, so there are no misunderstandings. Tewa is not opposed to donors, but wants to encourage organisations to set their own mission and vision, principles and values and not be swayed or change simply for the sake of funding.</p>
<p>
	<strong>What difficulties are women facing regarding entrepreneurship in Nepal?&nbsp;</strong></p>
<p>
	Most of the females in Nepal are uneducated as a result of which their decisions are not given priority in the family. Similarly, the main reason of Nepali women lagging behind in entrepreneurship is poor access to finance. The landed assets are not owned by them because of which they don’t get opportunity to invest in the sector they want to. Though their level has increased in terms of economy and business, there is still much to improve.</p>
<p>
	<strong>How do you evaluate the present status of women entrepreneurship in Nepal?&nbsp;</strong></p>
<p>
	Women are seen increasing their independency level and seeking for self employment. As far as we see, women are capable of being successful entrepreneurs as they are sincere in their business. They are being educated which makes them able to use that available finance in business. Women are also introducing themselves as social entrepreneurs as they come up with their ideas and form a group in a society to provide employment opportunities to other females.</p>
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			'article_category_id' => '138',
			'title' => 'MDGs Are Within Reach : Report',
			'sub_title' => '',
			'summary' => null,
			'content' => '<p>
	<span style="font-size: 12px;">Thirteen years after the world set the Millennium Development Goals (MDGs), countries have made big strides to meet the eight anti-poverty targets by their 2015 deadline, says a United Nations report released last Monday, which stresses that the unmet goals are still within reach, but nations need to step up their efforts to achieve them.&nbsp;</span></p>
<p>
	Agreed upon by world leaders at a UN summit in 2000, the MDGs set specific targets on poverty alleviation, education, gender equality, child and maternal health, environmental stability, HIV/AIDS and malaria reduction, and a global partnership for development.&nbsp;</p>
<p>
	The Millennium Development Goals Report 2013 shows how the combined actions of governments, civil society and the private sector have made substantial progress in meeting many of the targets, while also pointing out which areas are falling behind and require immediate attention.&nbsp;</p>
<p>
	The targets that have already been met include halving the number of people living in extreme poverty and providing more than two billion people with access to improved sources of drinking water.&nbsp;</p>
<p>
	Countries have also made great strides on health targets, and are within close reach of achieving them by 2015. These include reducing the mortality rates from malaria and tuberculosis and stopping HIV infections. Other areas where progress has been significant include the reduction of people suffering from undernourishment and the decline of the proportion of slum dwellers in cities.&nbsp;</p>
<p>
	The report also states that the global economic crisis has left millions unemployed, and has reduced the amount of development aid for those countries that are most in need. In spite of these developments, the report urges sustained momentum, noting that countries will have to build on MDG achievements when they decide on a post-2015 agenda.</p>
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				<p>
					<strong>‘South Asia on Track to Achieve Targets’&nbsp;</strong></p>
				<p>
					<span style="font-size: 12px;">According to the report, South Asia as a whole is on track for nine MDG indicators, Sri Lanka is on track for 15 indicators and outperforms the sub-region. The report also said extreme poverty rates have been halved for Eastern Asia, South-Eastern Asia and Southern Asia, five years ahead of the deadline, though with the exception of India. The report found that South-Eastern Asia reached hunger reduction target ahead of 2015 deadline. However, South Asia is lagging behind. As per the report, in South Asia considerable progress has been made in primary school enrolment that increased to 93 per cent from 78 per cent during 2011 and 2000. It said the region saw the greatest increases in youth literacy rates between 1990 and 2011 from 60 to 81 per cent.</span></p>
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<p>
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			'title' => 'India Eases Power Import',
			'sub_title' => '',
			'summary' => null,
			'content' => '<p>
	<span style="font-size: 12px;">In a significant move, the Central Government of India has decided to free the import of electricity. It has now been decided to allow import of power without the need for authorisation from the central government, according to a news report given by Business Line Daily. The move to “free’’ import of electricity was announced through a notification by India’s Union Ministry of Commerce and Industry on Friday evening. The “freeing of import’’ is done through an amendment in the import policy of electrical energy. The move comes even as the country is facing severe power shortage. “Import of electrical energy will not require authorisation,” Director General of Foreign Trade (DGFT) said in a notification. It said that the “import policy of electrical energy is revised from ‘restricted’ to ‘free’.”</span></p>
<p>
	<strong>Gross generation&nbsp;</strong></p>
<p>
	<img alt="India Eases Power Import" height="147" src="https://lh6.googleusercontent.com/-Z8RB3jZPNz4/UdqmleX6j6I/AAAAAAAAA-w/FB6L_s8sXqk/s543/power.jpg" style="float: left; margin: 0px 10px 0px 0px;" width="197" /></p>
<p>
	The gross electricity generation in India from various conventional energy sources during April 2012-January 2013 was 7,62,7668 million units, as against the target of 7,71,866 million units, says a report by Indian news agency PTI. This generation is mainly from thermal, hydro and nuclear sources and import of hydro power from Bhutan during 2012- 13. Nuclear power registered a generation of 27,450 million units as compared to the target of 35,200 million units. The hydro power generation during the period was 99,071 million units as against the target of 1,22,045 million units. India imported 4,710 million units of hydro power from Bhutan against the target of 5,480 million units.</p>
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			<td bgcolor="#E5E4E2">
				<p>
					<strong><span style="font-size:14px;">‘Big Opportunity for Nepal’&nbsp;</span></strong></p>
				<p>
					The Nepali private power producers welcomed the Indian government’s decision as a ‘big opportunity’. ‘Indian government decision is very supportive,’ says Gyanendra Lal Pradhan, Chairman of the Energy Committee of Federation of Nepalese Chambers of Commerce and Industry (FNCCI). The Nepali power producers have been lobbying for electricity import into India. ‘The joint team of FNCCI and Confederation of Indian Industry (CII) has long been reiterating this issue,’ Pradhan mentioned.&nbsp;</p>
				<p>
					The export of electricity to India is seen as one of the biggest trading potential of Nepal. Nepal is expected to enjoy surplus energy after the completion of ongoing hydle projects across the country by 2017. But, to benefit from this opportunity to export power to India, the various hurdles caused by political uncertainty and absence of investment friendly environment in Nepal need to be removed. The lack of nationwide power transmission network is also blamed as another hindrance to electricity export to India. ‘A clear national policy is needed to encourage and facilitate the power producers,’ Pradhan said. According to him, establishment of power trading company based on public-private-partnership model could pave the way for exporting the surplus electricity. ‘Similarly, the 30 year old existing policy on transmission line needs to be revised as well,’ he added. Pradhan also suggested de-regulation of power sector as different rules and regulations weigh on the development of new projects.</p>
				<div>
					 </div>
			</td>
		</tr>
	</tbody>
</table>
<p>
	 </p>
<table border="0" cellpadding="20" width="99%">
</table>
<p>
	 </p>',
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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' => 'In a significant move, the Central Government of India has decided to free the import of electricity.',
			'sortorder' => '1193',
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	(int) 8 => array(
		'Article' => array(
			'id' => '1330',
			'article_category_id' => '135',
			'title' => 'Can The New Government Change Any Policy?',
			'sub_title' => '',
			'summary' => null,
			'content' => '<p style="">
	<font face="arial, helvetica, sans-serif">The government is going full swing in preparation to bring out the government budget for the fiscal year that starts on July 16. In this process, the government is also preparing to change some policies. However, there are views that argue that as this government’s mandate is only to hold the coming elections, it must not change any of the existing policies. The Corporate talked with some experts about the issue. Excerpts:</font></p>
<p style="">
	 </p>
<p>
	<span style="font-size:12px;"><span style="font-family: arial, helvetica, sans-serif;"><strong><img alt="Dr Chiranjibi Nepal,Principal Advisor,Ministry of Finance" height="154" src="https://lh4.googleusercontent.com/-tbX4iUnBeMI/UdqSwI79ZHI/AAAAAAAAA9Q/WbppY81OG8c/s154/Dr%2520Chiranjibi%2520Nepal.jpg" style="float: left; margin: 0px 10px 0px 0px;" width="133" /></strong></span></span></p>
<p>
	<font face="arial, helvetica, sans-serif"><b>Dr Chiranjibi Nepal&nbsp;</b></font></p>
<p>
	<font face="arial, helvetica, sans-serif">Principal Advisor&nbsp;</font></p>
<p>
	<font face="arial, helvetica, sans-serif">Ministry of Finance&nbsp;</font></p>
<p>
	<font face="arial, helvetica, sans-serif">The present government can definitely change the existing policies as required and bring new programmes. The 25-point agreement between the major political parties while appointing this government has cleared the way to introduce budget by this government with necessary changes in policies. It is very important to bring budget in time or else the economic growth rate will be hampered. The government has set the target of 7 per cent economic growth by 2015 and it is possible only if the existing government can change some policies as required to expedite capital expenditure. I think, major political parties agree on this.</font></p>
<p style="">
	<span style="font-size:12px;"><span style="font-family: arial, helvetica, sans-serif;"><br />
	</span></span></p>
<p style="">
	 </p>
<p>
	<span style="font-size:12px;"><span style="font-family: arial, helvetica, sans-serif;"><strong><img alt="Dr Chandra Mani Adhikari,Economist" height="154" src="https://lh3.googleusercontent.com/-D4KjA3oW-Sg/UdqSwHmogLI/AAAAAAAAA9I/HrJV-OS51jU/s291/Dr%2520Chandra%2520Mani.jpg" style="float: left; margin: 0px 10px 0px 0px;" width="133" /></strong></span></span></p>
<p class="Pa18" style="">
	<span style="font-size:12px;"><span style="font-family: arial, helvetica, sans-serif;"><strong><span style="color: rgb(34, 30, 31);">Dr Chandra Mani Adhikari<span class="Apple-tab-span" style="white-space: pre;"> </span></span></strong></span></span></p>
<p class="Pa18">
	<font color="#221e1f" face="arial, helvetica, sans-serif">Economist&nbsp;</font></p>
<p class="Pa18">
	<font color="#221e1f" face="arial, helvetica, sans-serif">In my opinion, this government cannot change the existing policies. The government should bring full budget to ensure effective expenditure planning in the coming fiscal year. The government, however, should not be ambitious and bring the budget in a manner that an elected government does. I think the government should take care of at least three issues. It should not introduce new programmes, it should not change policies and should not initiate big projects. Similarly, the government should not make the size of budget too large. In the revenue front, government cannot change the existing revenue policy but it can change tax rates, if needed.</font></p>
<p class="Pa18" style="">
	<span style="font-size:12px;"><span style="font-family: arial, helvetica, sans-serif;"><span style="color: rgb(34, 30, 31);"><br />
	</span></span></span></p>
<p class="Pa18" style="">
	<span style="font-size:12px;"><span style="font-family: arial, helvetica, sans-serif;"><br />
	</span></span></p>
<p style="">
	 </p>
<p>
	<span style="font-size:12px;"><span style="font-family: arial, helvetica, sans-serif;"><strong><img alt="Hariraj Khewa Limbu,Former Minister of State for Finance" height="154" src="https://lh6.googleusercontent.com/-W0eUyWktWIE/UdqSwN4jIaI/AAAAAAAAA9U/c8kYEHsiZ6s/s287/Hariraj%2520Khewa%2520Limbu.jpg" style="float: left; margin: 0px 10px 0px 0px;" width="133" /></strong></span></span></p>
<p style="">
	<span style="font-size:12px;"><span style="font-family: arial, helvetica, sans-serif;"><strong>Hariraj Khewa Limbu,</strong></span></span></p>
<p>
	<font face="arial, helvetica, sans-serif">Former Minister of State for Finance&nbsp;</font></p>
<p>
	<font face="arial, helvetica, sans-serif">This government does not have the right to change the existing policies, and it should adhere to the ones adopted by the Baburam Bhattarai-led government. The government should solely focus on the Constituent Assembly elections. The primary concern for now is to form a good Constituent Assembly. This government’s only responsibility to hold election. It does not have any right to bring new programmes and policies. Moreover, as the focus should be on the elections, the government does not have time to effectively formulate new policies and monitor them, which might lead to corruption. There will be no mechanism to check corrupt activities in the absence of an elected body.</font></p>
<div>
	 </div>',
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			'created' => '2013-07-08',
			'modified' => '2013-07-08',
			'keywords' => 'the corporate weekly from Nepal, nepali corporate events – news – interviews – reviews, nepali corporate focus, nepali corporate status and news, news from nepali corporate industry, corporate happenings – events – news from nepal',
			'description' => 'The government is going full swing in preparation to bring out the government budget for the fiscal year that starts on July 16.',
			'sortorder' => '1192',
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	(int) 9 => array(
		'Article' => array(
			'id' => '1329',
			'article_category_id' => '136',
			'title' => 'Target 7 Percent Growth',
			'sub_title' => '',
			'summary' => null,
			'content' => '<table border="0" cellpadding="0" cellspacing="10" width="100%">
	<tbody>
		<tr>
			<td valign="top" width="50%">
				<p>
					 </p>
				<p>
					<strong><img alt="Anil Gyawali
CEO,Nabil Bank" height="150" src="https://lh6.googleusercontent.com/-lC0nR4o0S24/UdqSxH0H0QI/AAAAAAAAA9c/xQzARnETuuo/s290/anil.jpg" style="float: left; margin: 0px 10px 0px 0px;" width="125" /></strong></p>
				<p>
					<strong>Anil Gyawali &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp;&nbsp;</strong><span style="font-size: 12px;">CEO &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp;</span><span style="font-size: 12px;">Nabil Bank</span></p>
				<p>
					 </p>
				<p>
					To attain economic growth, the government should make proper use of opportunities and promptly address the challenges. Stability in policies is most important for Nepal now. Frequent changes in government will never help attract investment. There are three major areas that need to be prioritised: agriculture, manufacturing and service-oriented businesses. Recently, Nepal Rastra Bank (NRB) came up with a policy to make it mandatory for banks to invest 10 per cent of their money in agricultural sector. This can be done for tourism as well.</p>
				<p>
					 </p>
				<p>
					 </p>
			</td>
			<td valign="top" width="50%">
				<p>
					<strong><img alt="Dharma Raj Pandey,President,Nepal Microfinance Bankers Association
(NMBA)" height="150" src="https://lh6.googleusercontent.com/-sqeT-jquh2A/UdqSyI7vQGI/AAAAAAAAA9k/5jT3-mCWtF8/s285/dharma.jpg" style="float: left; margin: 0px 10px 0px 0px;" width="125" /><br />
					</strong></p>
				<p>
					<strong>Dharma Raj Pandey &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp;&nbsp;</strong><span style="font-size: 12px;">President &nbsp;&nbsp;</span><strong style="font-size: 12px;">&nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp;</strong><span style="font-size: 12px;">Nepal Microfinance Bankers Association &nbsp;</span><span style="font-size: 12px;">&nbsp;</span><span style="font-size: 12px;">&nbsp;</span><span style="font-size: 12px;">(NMBA)</span><strong style="font-size: 12px;">&nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp;&nbsp;</strong></p>
				<p>
					<span style="font-size: 12px;">Agriculture holds the key to achieving 7 per cent economic growths in Nepal. There are a few steps that the government could take to modernise agriculture. First of all, it should commission research on ways to capitalise on agricultural products. Secondly, modern technology should be made accessible to the farmers. After doing that, new industries that use agro products as raw materials can be set up. This ultimately will contribute towards economic development. In addition to this, the government should invest in infrastructure, especially in transportation. Similarly, foreign investment needs to be sought in areas of hydropower and tourism.</span><strong style="font-size: 12px;">&nbsp;&nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp;&nbsp;</strong><span style="font-size: 12px;">&nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp;&nbsp;</span><span style="font-size: 12px;">&nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp;&nbsp;</span></p>
				<div>
					 </div>
			</td>
		</tr>
	</tbody>
</table>
<p>
	 </p>',
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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' => 'To attain economic growth, the government should make proper use of opportunities and promptly address the challenges.',
			'sortorder' => '1191',
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	(int) 10 => array(
		'Article' => array(
			'id' => '1328',
			'article_category_id' => '134',
			'title' => '‘No To Another Merger Right Now’',
			'sub_title' => '',
			'summary' => null,
			'content' => '<table align="right" border="0" cellpadding="1" cellspacing="1">
	<tbody>
		<tr>
			<td>
				<img alt="Tulasi R. Gautam,CEO,MachhapuchchhreBank Limited" height="209" src="https://lh4.googleusercontent.com/-M_eOSiFZvNc/UdqK3UNMT2I/AAAAAAAAA8o/wwW6sZVBcN0/s512/Tulasiu.jpg" width="200" /></td>
		</tr>
		<tr>
			<td style="text-align: center;">
				<b>Tulasi R. Gautam<br />
				</b>CEO<br />
				Machhapuchchhre Bank Limited</td>
		</tr>
	</tbody>
</table>
<p>
	<strong>Tulasi R. Gautam</strong>, CEO, Machhapuchchhre Bank Limited (with which Standard Finance Ltd was merged on 9th July 2012) talks to The Corporate’s Yagya Banjade and Sweta Sharma about the achievements of his bank and the overall situation of commercial banks in Nepal. <strong>Excerpts:</strong></p>
<p>
	<strong>It has been a year since the merger of Standard Finance into Machhapuchchhre Bank. How has that merger helped?&nbsp;</strong></p>
<p>
	It was the largest merger of two independent organizations in Nepal till recently. And the results to date are good. We received quite good response from the market. All the assimilation was done before I joined the bank. The most encouraging point is the branch network. We now have 54 branches with one extension counter and 65 ATMs covering 29 districts. Talking about business, the loan rate was 16 billion and today it is 21 billion. I call this ‘an average growth’ in the context of our banking sector. We have more than 350,000 customers. According to our latest data (1st July 2013), we have 21.16 billion loan outstanding, 25.51 billion in deposits and the CDC ratio is 76.25 per cent. We have paid up capital of 2.47 billion. Considering all this, I can say we are doing quite well.</p>
<p>
	<strong>If Nepal Rastra Bank (NRB) really asks banks to increase the paid up capital further, what will be the situation of your bank?&nbsp;</strong></p>
<p>
	NRB will definitely give a time frame to banks for increasing the paid up capital. Some banks may be able to generate the capital on their own. Those who cannot will opt for merger.&nbsp;</p>
<p>
	<strong>The financial condition of your bank does not seem to have improved very much after the merger. What is the reason?&nbsp;</strong></p>
<p>
	It is not necessary that after merger the financial condition should improve drastically. The merger adds figures on some parameters and that definitely has helped uplift the financial condition of the bank. The board of directors and the management team contribute equally to uplift the situation of a bank.&nbsp;</p>
<p>
	<strong>In the third quarter of current fiscal year, your bank’s bad debt was 2.73 per cent which is considered high. What do you think about it?&nbsp;</strong></p>
<p>
	Yes, this year we are looking for improvements. After merger, there have cropped up several issues that need to be settled and we are working in managing that. I believe that a bad debt of 2.73 per cent is quite high and in next year we will reduce it to 1.5 per cent.</p>
<p>
	<strong>You brought into some staff from Nepal SBI into Machhapuchchhre in a number of key positions. Are more people coming?&nbsp;</strong></p>
<p>
	There were enough staffs when I entered this bank. But for few key posts we needed some new employees. So four people from Nepal SBI and one from Sanima came and joined us. But it was not pre-planned.&nbsp;</p>
<p>
	<strong>Staffs that were earlier in Standard Finance are working in Machhapuchchhre two levels below where they were in Standard Finance. What has been the repercussion of that demotion?&nbsp;</strong></p>
<p>
	It cannot be called a demotion. We can call it ‘adjustment of the post’ and that adjustment was at maximum to two levels considering the profiles of the individuals. None of the staff have left the organization due to this reason. This issue was being settled in a participatory manner among staffs themselves before I was appointed.</p>
<p>
	<strong>After the merger there is generally chaos among the staffs. How did you manage it?&nbsp;</strong></p>
<p>
	When two organizations merge, the work culture also gets merged and there will be problems in hierarchy. The major difference is in the system as both organizations have their own system of working. In this situation, there should be high level of understanding among staffs. In my view, if the merger is between organization of similar level then there will not be any problem except in the CEO level. Next point I learnt is that if the merger is going to happen, staffs will feel some sort of insecurity about their job. But a proper communication will remove that feeling of insecurity. Transparency in the system will help.</p>
<p>
	<strong>How do you evaluate the present situation of commercial banks?&nbsp;</strong></p>
<p>
	Some banks which have huge investments in real estate are facing some problems in loan recovery. Few banks which solely focus on banking are doing good. Overall, in my view, the situation of commercial banks is quite good.&nbsp;</p>
<p>
	<strong>What are the existing problems in the banking sector?&nbsp;</strong></p>
<p>
	The first and foremost problem is our unstable economy. The liquidity is highly fluctuating and unpredictable. If the government budget comes in time, things might go smoothly for banks as well. We need new avenues for lending with new business coming in the market.</p>
<p>
	<strong>It is said that banking sector suffers lack of skilled manpower. Is it true?&nbsp;</strong></p>
<p>
	It is not like that. We are doing a good business for long. That would not have been possible without skilled manpower. For past three years, new commercial banks have not started as NRB has stopped giving license to new commercial banks. This shows that till now there are skilled people who are operating banks quite well.&nbsp;</p>
<p>
	<strong>These days the operational risks are getting high in banking sector. How do you consider this?&nbsp;</strong></p>
<p>
	It is due to some promoters working for their own benefit. Next reason could be reckless lending. The software and system are also responsible for increase in the operational risk.&nbsp;</p>
<p>
	<strong>Nepal Rastra Bank has drawn the line between bankers and businessmen. What are your comments on this?&nbsp;</strong></p>
<p>
	It would have been better if in the first place businessmen were not allowed to enter banking sector at all. Initially they opened the door and now they want the businessmen out. This has created some discomfort but overall this directive from NRB might be for the good of banking sector though it is yet to be finalized.</p>
<p>
	<strong>What is the likelihood of further mergers with Machhapuchchhre as one of the parties?&nbsp;</strong></p>
<p>
	Some developmental banks and financial institutions have approached us with merger proposals. But as we are just fine tuning the organization after the merger of Standard Finance into us, we are not moving towards another merger for now.</p>
<div>
	 </div>
<table align="right" border="0" cellpadding="1" cellspacing="1">
</table>
<p>
	 </p>',
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			'description' => 'Tulasi R. Gautam, CEO, Machhapuchchhre Bank Limited (with which Standard Finance Ltd was merged on 9th July 2012) talks to The Corporate’s Yagya Banjade and Sweta Sharma about the achievements of his bank and the overall situation of commercial banks in Nepal.',
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	(int) 11 => array(
		'Article' => array(
			'id' => '1327',
			'article_category_id' => '122',
			'title' => 'DJPL: The Promise Of Quality Assurance',
			'sub_title' => '',
			'summary' => null,
			'content' => '<p>
	<strong style="font-size: 12px;">--By Gaurav Aryal</strong></p>
<p>
	Deurali Janta Pharmaceuticals Pvt Ltd (DJPL), a leading pharmaceutical company inaugurated Nirog, a primary care division of the company in the last week of June, 2013. Hari Bhakta Sharma, Executive Director of DJPL said that the new division has been set-up with an aim of import substitution of the drugs mostly in such segments as muscular inflammation, pain and emergency management. He also said that the Nirog division’s primary objective is to supply high quality drugs to Nepalis while the company exploits its capacity to explore opportunities in the international markets.</p>
<table align="right" border="0" cellpadding="1" cellspacing="1">
	<tbody>
		<tr>
			<td>
				<img alt="Hari Bhakta Sharma,Executive Director,Deurali Janta Pharmaceuticals Pvt Ltd" height="292" src="https://lh4.googleusercontent.com/-_sN1XhOnF5Q/UdqBJ6WyYMI/AAAAAAAAA7w/Br7QQfKeL3Q/s512/1212121.jpg" width="250" /></td>
		</tr>
		<tr>
			<td style="text-align: center;">
				<b>Hari Bhakta Sharma,<br />
				</b>Executive Director<br />
				Deurali Janta Pharmaceuticals Pvt Ltd</td>
		</tr>
	</tbody>
</table>
<p>
	Sharma explained that drugs mostly in these three segments are being imported heavily. Apart from seeking ways for import substitution, he said, “We are looking for exporting our products to foreign markets while we build our capacity.”&nbsp;</p>
<p>
	<span style="font-size: 12px;">According to Sharma, this new division was established as a part of the company’s objective to produce medicines that help promote healthier living and prevent people from catching diseases. The company is dedicated to stabilise this newly established division before coming up with a new venture. DJPL has been launching a new division in every two to three years. Sharma said, “Pharmaceutical industry is all about a dynamic life science that is changing so fast that today’s technology becomes obsolete next day. To boost business competitiveness and mitigate product lifecycle, we need to do something new.” At the same time, companies like DJPL are realising the responsibility to substitute huge imports of drugs.</span></p>
<p>
	<strong>Export Dilemma&nbsp;</strong></p>
<p>
	The export of drugs is being talked for a couple of years, but it is yet to be realised. “There are markets where we cannot compete. Also, at times the cost of production and cost of quality compliance is greater than the rate of return. In such markets, we drop the idea of export,” he said, adding, “In those markets where we want to compete, there are so much of regulatory barriers, and it is painfully time taking to meet all the requirements.” He said that DJPL and some other pharmaceutical companies are in a process of meeting all the requirements. According to Sharma, unlike in any other commodity, every pharma product and every production unit must be registered in the target country before starting exports there because drugs are considered highly sensitive as it is directly related to the human health. Countries have strict policy to regulate drugs import. Moreover, Sharma said that the Nepali companies are becoming extra cautious before making any export commitments because of the unfavourable environment in Nepal to run manufacturing bases.</p>
<p>
	<strong>Product Diversification&nbsp;</strong></p>
<p>
	The DJPL has been adding new plants and divisions to come up with a new range of products. According to Sharma, the company has always been in a drive to product development. Apart from having a strong foothold in the d o m e s t i c market, the company is searching for favourable overseas markets. Therefore, every move of the company is targeted towards product development, capacity building and boosting competitiveness.&nbsp;</p>
<p>
	<img alt="Product Diversification DJPL" height="380" hspace="45" src="https://lh6.googleusercontent.com/-WeIbYRuJ6Ds/UdqACYgmqgI/AAAAAAAAA7A/V4pM4d3MsrU/s600/DSC06828.jpg" width="500" /></p>
<p>
	Sharma revealed that the company is planning to work also on the natural products. The DJPL is planning to establish a new plant in Chitwan and has hired a consultant for technical and physical infrastructure development required for starting the operation. But he also hinted that it would almost take a decade before this unit starts its production. “We have talked a lot about Nepal’s richness on herbs and medicinal plants. The government is seen ineffective in materialising Nepal’s richness on natural products. So, it is us, the private sector who must be doing something there,” he explained. Sharma further added that the company is working on it and DJPL is always committed to quality assurance as it is related with medicines and human health.&nbsp;</p>
<p>
	Similarly, the company had come up with Aarogyam, a derma care division on August 2011. This division manufactures products especially for skin, eye and dental diseases. The company had set up this manufacturing unit on the occasion of DJPL’s 20th anniversary with an investment of Rs 50 million. This unit produces antifungal, antibacterial and anti-inflammatory products for treatment of skin diseases among others. Clomigen, Solbet, Conaz and Flutipro are some of the ointments manufactured by Aarogyam.</p>
<p>
	The company is focused on manufacturing drugs related with infections, cardiology, women’s health, and infectious diseases. The company has been in the quest to develop and produce drugs popularly in demand also in the international market. Sharma believes, “Our investment in technologies and products will allow us expand to new therapeutic segments necessary for healthier living of people.”</p>
<p>
	<strong>Market Presence&nbsp;</strong></p>
<p>
	Having over two decades of presence in the Nepali market, DJPL has established itself as a leading pharmaceutical company. The company claims that it has achieved this position because of its belief and commitment to quality products with affordability, use of cutting edge technology and a promise to offer better service to customers. DJPL has become a part of healing with its range of 220 products.&nbsp;</p>
<p>
	<img alt="Market Presence DJPL" height="328" hspace="45" src="https://lh4.googleusercontent.com/-daVArC3YRVc/UdqFiVPgoII/AAAAAAAAA8M/No9yrqm5mPE/s600/AHU Room Photo (Copy).jpg" width="500" /></p>
<p>
	Sharma claimed that DJPL holds five per cent share of the total size of pharmaceutical market of Nepal. There are 45 Nepali companies and 258 foreign companies present in the Nepali market. Similarly, the size of the Nepali pharmaceutical market is estimated to be of Rs 16.7 billion. Likewise the pharmaceutical industry of Nepal has created a direct employment for 9,650 people, according to Quantification Study 2011 on Pharmaceutical Markets.&nbsp;</p>
<p>
	The company is using 60 per cent of its installed production capacity. DJPL has plans to utilise rest of the capacities to produce life saving medicines related to ailments of the heart, kidney, nerve and psychological complexities. The company says that it is conducting studies to understand the market feasibility so that it can utilise its 40 per cent production capacity that is not in use at the moment.</p>
<p>
	<strong>Quality Assurance&nbsp;</strong></p>
<p>
	DJPL has a total investment of Rs 870 million. According to Sharma, the company aims to produce best quality medicines at affordable cost. The use of ultra modern technology is also part of the company’s goals and also a contribution to Nepal’s industrial and economic development. “Quality assurance is the topmost priority of DJPL. Our Quality Assurance Department works independently with the support from Quality Control Department that has sophisticated technology along with highly qualified and trained personnel,” Sharma said. It also operates a full-fledged microbiological testing facility, which is in line with international standards.</p>
<p>
	<img alt="Quality Assurance DJPL" height="378" hspace="45" src="https://lh5.googleusercontent.com/-SpXVeXlb0gU/UdqACV-htDI/AAAAAAAAA7Q/nsWfVy86KKs/s600/DSC06817.jpg" width="500" /></p>
<p>
	Sharma claimed that DJPL is one of the pharmaceutical companies that invest heavily in research and development. The company has its own state of the art Research and Development Centre. The centre was inaugurated on January 2011. “We aim to develop new products matching the fast paced development of the 21st century alongside periodic updates to the formulas of all the drugs that we currently produce matching trends worldwide,” Sharma explained.</p>
<table border="0" cellpadding="30" style="font-size: 12px;" width="99%">
	<tbody>
		<tr>
			<td bgcolor="#E5E4E2">
				<strong>Major Milestones</strong>
				<p>
					DJPL, a WHO-GMP, ISO 9001 and ISO 14001 certified company began its production from January 30, 1991 though it was established on June 23, 1988. The growth and expansion of the company has never slowed down. In 1995, company began technical collaboration with Renata Limited, a company from Bangladesh, another remarkable move for the company that helped it surge. Similarly, on August 2005, a new division Suswasthya, a systematic care division was brought into being.&nbsp;</p>
				<p>
					<img alt="OTC Generic Product" height="273" hspace="45" src="https://lh6.googleusercontent.com/-ELjnRcduyhM/UdqABX3qjNI/AAAAAAAAA60/oOfgOXw5-14/s600/1234 (Copy).JPG" width="500" /></p>
				<p>
					The never ending journey of success continued for DJPL. The company claims, it is the first Nepali company to be certified with ISO 9001 and ISO 14001. Company received this coveted recognition in 2003. A year later the company was awarded with WHO-GMP certification.</p>
				<p>
					<strong>Production capacity of DJPL (per shift)&nbsp;</strong></p>
				<p>
					Syrups : 10,00,000 litres&nbsp;</p>
				<p>
					Tablets : 10,00,00,000 pieces&nbsp;</p>
				<p>
					Capsules : 7,20,00,000 pieces&nbsp;</p>
				<p>
					Dry Powder : 3,00,000 kg&nbsp;</p>
				<p>
					Ointments : 1,00,00,000 tubes&nbsp;</p>
				<p>
					<strong>Employment Creation&nbsp;</strong></p>
				<p>
					Technical Personnel : 60&nbsp;</p>
				<p>
					Marketing Personnel : 80&nbsp;</p>
				<p>
					Administration/Finance : 45&nbsp;</p>
				<p>
					Highly skilled workers : 85&nbsp;</p>
				<p>
					Skilled workers : 55&nbsp;</p>
				<p>
					Semi-skilled workers : 25&nbsp;</p>
				<p>
					<strong>Total Investments&nbsp;</strong></p>
				<p>
					Fixed assets : Rs 54,42,00,000&nbsp;</p>
				<p>
					Current capital : Rs 32,58,00,000&nbsp;</p>
				<p>
					Total investment : Rs 87,00,00,000</p>
				<p>
					<strong>DJPL Product Range&nbsp;</strong></p>
				<p>
					Branded Generics: Systemic/Prescription&nbsp;</p>
				<p>
					Anti-hypertensive products (cardiovascular)&nbsp;</p>
				<p>
					Anti-infectives /Antibiotics&nbsp;</p>
				<p>
					Gastro-intestinal medicines&nbsp;</p>
				<p>
					Anti-diabetics/Liver protective&nbsp;</p>
				<p>
					Musculo-skeletal system medicines&nbsp;</p>
				<p>
					<strong>OTC-Generic Products&nbsp;</strong></p>
				<p>
					Analgesics, Antipyretics, Anti-inflammatory&nbsp;</p>
				<p>
					Anti-cold, anti-cough preparations&nbsp;</p>
				<p>
					Vitamin and mineral supplements&nbsp;</p>
				<p>
					Proteolytic enzymes</p>
				<p>
					Ointments (dermatology products)&nbsp;</p>
				<p>
					<strong>Production Capacity&nbsp;</strong></p>
				<p>
					Installed capacity usage: 60 per cent&nbsp;</p>
				<p>
					Additional capacity: 40 per cent&nbsp;</p>
				<p>
					<strong style="font-size: 12px;">Human Resource Management&nbsp;</strong></p>
				<p>
					<span style="font-size: 12px;">The company has always prioritised its staff members. DJPL has adhered to its policy to enhance employee’s skills and capacity building. According to Sharma, that attempt will provide socio economic benefits to employees. Currently there are 350 employees. Executive Director Sharma said, “DJPL comprises of young, energetic and dedicated professionals who have the expertise, knowledge and perception to bring about latest technologies in pharmaceuticals manufacturing.” He also added that the company is constantly exercising critical thinking to maintain professional competence for excelling the quality of its products. The company has been devoted to enhance the work skills and knowledge of staff members through trainings, experience and exposure within and outside Nepal.</span></p>
				<div>
					 </div>
			</td>
		</tr>
	</tbody>
</table>
<p>
	 </p>
<table border="0" cellpadding="20" width="99%">
</table>
<p>
	 </p>',
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			'description' => 'Deurali Janta Pharmaceuticals Pvt Ltd, one of the prominent pharmaceutical companies of Nepal,
known for its quality products, has been prioritising import substitution for the domestic market while
enhancing capacity for tapping the foreign markets.',
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			'title' => 'A Target 6% Growth Rate',
			'sub_title' => '',
			'summary' => null,
			'content' => '<p>
	<strong><span style="font-size: 12px;">-- By TC Correspondent</span></strong></p>
<p>
	<span style="font-size: 12px;">The meeting of the National Development Council (NDC) held on July 5-6 in Kathmandu concluded by fixing the target of 6% annual growth rate during the 13th development plan period (2070-73). The two day meeting was attended by experts, leaders of political parties and top bureaucrats. The approach paper to the three-year plan approved by the meeting aims to upgrade Nepal to the status of Developing Country by 2022 from the existing Least Developed Country (LDC). To attain the 6% growth rate, the plan focuses on agricultural growth rate of 4.5% per annum while the target is 6.7% growth rate per annum in non-agricultural sector. These growth rates are expected to trigger employment growth rate of 3.2% per annum, reducing population living below the poverty line to 18%. Effective mobilization of public, private and cooperative sector is the major strategy to achieve the set targets.</span></p>
<p>
	Development of physical infrastructure, expansion of social services, enhancement of good governance in public and other sectors and inclusive and sustainable development are the other priorities. Similarly, development of hydropower and energy sectors, commercialization and diversification of agricultural sector, enhancement of farm productivity and increased access to basic education and health services, drinking water and sanitation are also among the programmes incorporated in the approach paper. The plan has also emphasized on the development of road, other physical infrastructure, tourism, industrial and trade sectors, along with conservation of natural resources and environment. The meeting also discussed about the hurdles in the aim to achieve the targeted development. Political crisis, energy crisis and lack of manpower are identified as the major potential challenges for industrial development.</p>
<p>
	The paper has formulated plans to spend a total Rs 1.62 trillion till 2015/16. Of this, Rs 960.69 billion will be spent to cover recurrent expenses, while Rs 277.94 billion is allocated for capital spending.</p>
<p>
	These expenses, according to the plan, would be met through estimated revenue collection of Rs 1.13 trillion in the three-year period, while the rest would be raised through domestic debt and grants and loans from development partners.</p>
<div>
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			'title' => 'Politics As Main Business Challenge',
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			'summary' => null,
			'content' => '<p>
	<strong>--By Upashana Neupane</strong></p>
<p>
	<span style="font-size: 12px;">Political instability has posed as the major critical challenge for Nepali economy, according to the Second Business Confidence Survey report released by Federation of Nepalese Chambers of Commerce and Industry (FNCCI).&nbsp;</span></p>
<p>
	The survey has also pointed out energy crisis and poor governance as the second and third critical challenges. Similarly, the survey stated that the corruption and frequent strikes are also hitting the economy hard.&nbsp;</p>
<p>
	There is a silver lining &nbsp;around this cloud too. Despite the challenge factors, the survey has revealed that the Nepali private sector felt more confident over the last six months. The survey measured the confidence &nbsp;of business people to have increased by nearly 10 points to 49.5, up from 39.7 six months earlier.&nbsp;</p>
<p>
	<span style="font-size: 12px;">Increased foreign trade, more convenience in securing &nbsp;loan and declining cost of production are the factors boosting the confidence of business people, the report said.</span></p>
<p>
	<span style="font-size: 12px;">The survey has showed that both confidence about &nbsp;the present (CSI) and optimism about the future (EI) have increased among the business community.&nbsp;</span></p>
<p>
	The survey has found that the Business &nbsp;Confidence Index (BCI) in the agricultural sector is the highest among the sectors of economy. However, the BCI of manufacturing is the lowest.</p>
<p>
	<span style="font-size: 12px;">The report, which incorporated responses from 420 business people from all districts, identified ten factors, including weak governance and energy crisis, as having affected business confidence in the country.</span></p>
<p>
	FNCCI had conducted the survey during March-May period and collected a total of 420 responses from all over the country covering all sizes of enterprises of agriculture, manufacturing and service sector.</p>
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