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No Laughing Matter

The Sweet Rewards of Power

By Madan Lamsal

. . .
read more »

NEPSE

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	<span class="A13"><span style="font-size:
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	T</span></span><span myriad="" style="font-size:10.0pt;mso-bidi-font-family:">ime and again, we hear about intense competition between brands. Companies try to prove their superiority over their rivals and to outsmart them which sometimes turn into brand wars. How does one differentiate products that have the same attributes? The only way is to position it differently through advertising campaigns and outrun the competition. Some classic examples are that of Coke Vs Pepsi along with some others like Horlicks Vs Complan.</span></p>
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	&nbsp;<span myriad="" style="font-size:10.0pt;mso-bidi-font-family:">A research indicates that one could not distinguish between Coke and Pepsi in a blind test so, technically, they are the same. However, with smart positioning of Coke, brands like Sprite and Fanta have made them more appealing to the consumers. Locally, Sprite’s ongoing “Bato Clear Chha” campaign is being liked by the masses for its fresh approach to a mundane product. On the other hand, Pepsi has embarked on a global approach focusing on comparatively healthy drinks like Lipton Cold Tea and Tropicana Juice. With the obesity problem, lifestyles have changed thus urging companies to come up with healthier products. In that spirit, the company is giving more attention to water, juices and sports drinks which seems like a logical approach.</span> <br />
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	<span myriad="" style="font-size:10.0pt;
mso-bidi-font-family:">There is an ongoing battle between Horlicks and Complan, both claiming their beverage can make children sharper, taller and stronger. The ad claims that children who were served Complan grew twice as fast to those on a regular diet due to its milk protein and nutrients. It also builds credibility by saying “Approved by Department of Food Science and Nutrition”. There is an ongoing case filed by the makers of Horlicks against Complan for allegedly damaging their reputation. In recent times, Horlicks is into a new strategy targeting working adults too and not just kids.</span></p>
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	<span myriad="" style="font-size:10.0pt;
mso-bidi-font-family:">Buddha Air and Yeti Air, the giants in Nepal’s domestic aviation, saw a similar war going sometime back. One claimed their engine as slicker and superior while the other claimed their commitment to safety and convenience for passengers. Keeping aside the technical superiority of their airplanes, one thing that the ‘war’ did was to keep the two brands in the minds of the customers. At the end, it’s of course the customer who decides on the brand they feel emotionally connected with and not necessarily the functional superiority.</span></p>
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	<span myriad="" style="font-size:10.0pt;
mso-bidi-font-family:">Many brands fought their own battles to cash in on the recently held London Olympic Games, the greatest sporting event, as well. While athletes all over the world flexed their muscles eying gold medals, companies made bids to get maximum exposure for their brands during the event. One of the surprise winners is Twitter which became popular because of inappropriate tweets from athletes. It was the first time when a social network brand cashed in on the Olympics. Well known sporting brand Puma’s bet on the world’s fastest man Usain Bolt paid off handsomely with unprecedented brand exposure during the games. Similarly, Nike and Gatorade too got their share of the pie. All in all, brand wars are more about reputation wars rather than product superiority. Since the competing brands in a certain category hardly have any differentiation product-wise, the only way out is to go head-on with the competition.</span> <br />
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	<b style="mso-bidi-font-weight:normal"><span style="font-size:8.0pt;line-height:115%;color:#211D1E">Karki can be reached at sajag_karki@hotmail.com. The article is based on research and author’s practical experience as a marketing and advertising professional.<br />
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mso-hansi-theme-font:minor-latin;mso-bidi-font-family:Impact">Stock Taking</span></span></p>
<p class="MsoNormal">
	<span class="A3"><span style="font-size:18.0pt;line-height:
115%;font-family:&quot;Calibri&quot;,&quot;sans-serif&quot;;mso-ascii-theme-font:minor-latin;
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<p class="MsoNormal">
	<span style="font-size:32.0pt;line-height:115%;mso-bidi-font-family:
&quot;Myriad Pro&quot;;color:#211D1E">Stagnating Signals<br />
	<br />
	</span></p>
<p class="MsoNormal">
	<span style="font-size:11.5pt;line-height:115%;mso-bidi-font-family:
&quot;Myriad Pro&quot;;color:#211D1E">&nbsp;The fourth quarterly reports of the companies failed to boost the market</span></p>
<p class="MsoNormal">
	<span style="font-size:11.5pt;line-height:115%;mso-bidi-font-family:
&quot;Myriad Pro&quot;;color:#211D1E">&nbsp; <br />
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<p class="Default">
	<span class="A13"><span style="font-size:
59.0pt">W</span></span><span style="font-size:10.0pt;mso-bidi-font-family:&quot;Myriad Pro&quot;;
color:#211D1E">hile the fourth quarterly reports of the previous fiscal year were coming in, it looked like that the share market of Nepal was going to get another boost. Almost all the banks and financial institutions (a sector that dominates this market) were reporting increased profit for the previous year. But that did not happen. The benchmark Nepse index lost 11.53 points or 2.91% to rest at 396.83 at the end of the review month. The session’s high was on 23 July (408.36) and the low was on 15 August (392.03).</span> </p>
<p class="Default">
	<span style="font-size:10.0pt;mso-bidi-font-family:&quot;Myriad Pro&quot;;color:#211D1E">The reason was however obvious. The investors ignored the satisfactory reports as pessimistic sentiments (about dividend yield) ruled the environment. Shares of major blue chip companies fell down despite the companies showing healthy performance in the last year.</span>&nbsp; <span style="font-size:10.0pt;mso-bidi-font-family:&quot;Myriad Pro&quot;;color:#211D1E">However the hydropower companies were exceptions as they registered straight growth stoking expectations of attractive dividends. Three out of the four listed hydropower companies reported grown in their income pushing the group index up.</span> </p>
<p class="Default">
	<span style="font-size:10.0pt;mso-bidi-font-family:&quot;Myriad Pro&quot;;color:#211D1E">Also the monetary policy for the fiscal year 2069/70 failed to drive the stock market. The policy has increases Cash Reserve Ratio (CRR) for the Banking and Financial institutions. This is sure to push up the lending rates causing restraint in borrowing and thus in the business volume and profits of the banking companies.</span> <span style="font-size:10.0pt;mso-bidi-font-family:&quot;Myriad Pro&quot;;color:#211D1E">In the review period, the Securities Board of Nepal (SEBON) has suggested Citizen Investment Trust CIT) to mobilize Rs 5 billion in the secondary market to boost up the sagging sentiments in the market. CIT says it is evaluating the feasibility to undertake the role of a market maker. If CIT really takes up this role, it will be a milestone for the betterment of capital market in Nepal.</span> </p>
<p class="Default">
	 </p>
<p class="Default">
	<strong>&nbsp;</strong></p>
<p class="Pa15" style="margin-top:5.0pt">
	<strong><span style="font-size:11.5pt;
mso-bidi-font-family:&quot;Myriad Pro&quot;;color:#211D1E">Performance by Sector </span></strong></p>
<p class="Pa15" style="margin-top:5.0pt">
	 </p>
<p class="Default">
	<strong>&nbsp;</strong><span style="font-size:10.0pt;
mso-bidi-font-family:&quot;Myriad Pro&quot;;color:#211D1E">Banking sector which occupies the major volume of trade in the exchange plummeted 26.68 points or 7.52% to 354.7. Finance sector descended 12.74 points or 5.05% to 252.21 while development bank lost 6.92 points to close at 246.18. Trading sector receded 4.23 points to come to 187.74. However hydropower sector gained hefty 65.69 points of 8.53% to settle at 770.53. Manufacturing sector too went up 42.06 points to 728.8 while there was 17.62 points increase in others to 635.62.</span> </p>
<p class="Pa10" style="text-align:justify">
	<span style="font-size:10.0pt;
mso-bidi-font-family:&quot;Myriad Pro&quot;;color:#211D1E">Sensitive index that measures the performance of 133 blue chips plunged 1.78 points or 1.74% to 102.11 while the float index calculated on the basis of real transaction went down 1.41 points or 4.64% to 30.37. The turnover was of Rs. 1,362,406,374 during the review period from 4,572,497 units of share traded via 27,297 transactions. </span></p>
<p class="Default">
	<span style="font-size:10.0pt;
mso-bidi-font-family:&quot;Myriad Pro&quot;;color:#211D1E">The accompanying figure shows the sector-wise distribution based on the total volume of trade. Commercial bank has accounted for 63.31% of total volume of trade. Hydropower sector occupied 20.49% while remaining sector covered the rest.</span> </p>
<p class="Pa10" style="text-align:justify">
	<span style="font-size:10.0pt;
mso-bidi-font-family:&quot;Myriad Pro&quot;;color:#211D1E">Technically, the Simple Moving Average (SMA) indicates to stagnation in the short term as both Nepse index and 30 days SMA are moving flat. In the long term analysis, the index has already crossed the 200 days SMA indicating that an absence of strong fundamentals will lead to correction. </span></p>
<p class="Default">
	 </p>
<p class="Default">
	 </p>
<p class="MsoNormal">
	<strong>&nbsp;<span style="font-size:8.0pt;line-height:115%;mso-bidi-font-family:
&quot;Myriad Pro&quot;;color:#211D1E">Chitrakar is a Stock Analyst with Jamb Technologies Pvt Ltd.</span></strong></p>
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	<strong><span style="font-size:8.0pt;line-height:115%;mso-bidi-font-family:
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	<img alt="stock taking" border="1" height="1180" hspace="10" src="http://newbusinessage.com/ckfinder/userfiles/Images/sector.jpg" vspace="10" width="400" /></p>
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	<span myriad="" style="font-size:15.0pt;line-height:115%;mso-bidi-font-family:
"><br />
	<span style="font-size: 12px;">&nbsp;</span><span myriad="" style="font-size: 15pt; line-height: 115%;">&nbsp;</span><span style="font-size: 15pt;">“We offer a warm hospitality and also have a beautiful garden to ensure a calming atmosphere.”</span></span></p>
<p class="Default">
	&nbsp;<img alt="kumar" border="1" height="184" hspace="10" src="http://newbusinessage.com/ckfinder/userfiles/Images/spadirector.jpg" vspace="10" width="144" /></p>
<address>
	<strong><span class="A5"><span style="font-size:10.0pt">Kumar R Maharjan &nbsp;</span></span></strong></address>
<address>
	<strong><span class="A5"><span style="font-size:10.0pt">Chairman </span></span></strong></address>
<address>
	<strong><span class="A5"><span myriad="" style="font-size:10.0pt;line-height:
115%;font-family:">Heritage Spa</span></span></strong></address>
<p class="MsoNormal">
	<span class="A13"><span style="font-size:
59.0pt">W</span></span><span myriad="" style="font-size: 10pt;">ho wouldn’t love relaxation after a long and stressful day at work? Heritage Spa, with a tagline ‘an invitation for relaxation’, has come up with various stress-busting therapies. The spa is located in a serene and peaceful setting within the heart of maddening and bustling city of Kathmandu. Heritage Spa, located at Sanepa Height, has proven to be an easy getaway from a tiresome and stressful day.</span></p>
<p class="Default">
	<span myriad="" style="font-size:10.0pt;
mso-bidi-font-family:">Kumar R Maharjan, Chairman at the Heritage Spa says that in partnership with his friend, the spa was established in October 2011. It was started with a motive to offer relaxation to people, right next to their door at an affordable cost and within a short duration. “Irrespective of the profession one chooses, s/he needs relaxation due to stressful working hours. Usually, working people suffer from body pain, stiff muscles, mental stress and similar other problems,” he says, “This is a place where they can get rid of such stresses.”</span></p>
<p class="Default">
	<span myriad="" style="font-size:10.0pt;
mso-bidi-font-family:">Maharjan says that there are various categories of spas. However, a spa needs appropriate location with peace and tranquillity. He believes a customer should be able to feel the positive vibe at the moment of entering the spa. “We offer a warm hospitality and also have a beautiful garden to ensure a calming atmosphere,” he says.</span></p>
<p class="Default">
	<span myriad="" style="font-size:10.0pt;
mso-bidi-font-family:">According to Maharjan, Heritage Spa does not use any chemical-based products for any of its service offerings. The spa even produces Aloe Vera – needed for various therapies – on its own. The company believes that anything that is not to be eaten should not be applied on the skin either.</span> <br />
	<br />
	<img alt="Heritage Spa" border="1" height="227" hspace="10" src="http://newbusinessage.com/ckfinder/userfiles/Images/product_1.jpg" style="float:left; margin:0 10px 0 0;" vspace="10" width="400" /></p>
<p class="Default">
	<span myriad="" style="font-size:10.0pt;
mso-bidi-font-family:">Heritage Spa offers over two dozen services which cover treatments from head to toe. The spa claims to be the specialist in Swedish style facial and body massage. A session at Heritage Spa ranges anything from Rs 450 for a steam bath to Rs 3,500 for a ‘Shirodhara’. Maharjan explains that ‘Shirodhara’ is a therapy designed to eliminate mental exhaustion as well as stress and any ill effects on the central nervous system.</span></p>
<p class="Default">
	<span myriad="" style="font-size:10.0pt;mso-bidi-font-family:">The spa offers its signature services for both males and females. Reena Shrestha, Aesthetician at the spa says that males prefer receiving services before special occasions and parties while women do not need any special occasion as they always love to feel and look beautiful. <span style="mso-spacerun:yes">&nbsp;</span>Swedish style Facial is one of the signature services offered by the spa which involves pressing the right nodes in the face that makes the skin look younger. Shrestha says that use of natural products like almond, honey, milk, cucumber, Aloe Vera along with the right technique nourishes the skin and leaves a refreshing result.</span></p>
<p class="Default">
	<span myriad="" style="font-size:10.0pt;mso-bidi-font-family:">Similarly, Raw Coffee Body Scrub would be a perfect option for those looking to purify and cleanse dead skin cells from the body that ensures smooth and supple looks. Maharjan adds that body scrubs are equally beneficial for elderly people and the youngsters. Likewise, the Camphor Oil Body Treatment is one of the most demanded signature services at the spa. Using traditional ayurvedic methods of massage, the therapy heals painful tight muscles, removes toxins and unblocks energy flow. The massage session that takes around 60 to 90 minutes releases tensions and stress from the body.</span></p>
<p class="Default">
	<span myriad="" style="font-size:10.0pt;mso-bidi-font-family:">Other than these, the spa offers services and therapies that include Head and Shoulder Treatment, Purifying Bio Fruit Facial, European Style Spa Treatment, Sugar Body Polish and Scrub, Healing Package for Elder Citizens, Hot Stone Therapy and Massage for Trekkers/Hikers among 25 various services. It also has service categories for teenagers, working people and senior citizens.</span></p>
<p class="Default">
	<span myriad="" style="font-size:10.0pt;
mso-bidi-font-family:">Currently, the spa has ongoing seasonal offering named Sexy Legs targeted at teenage girls for the summer season. Shrestha says that teenagers like to look good and stylish so the spa is trying to cash this sentiment. The offer includes waxing of leg and removing dark spots in elbow and other body parts. “Polishing with brown sugar gives a silky smooth and glowing finish to their legs,” says Maharjan. During the winter, the spa runs grooming service as well.</span></p>
<p class="Default">
	<span myriad="" style="font-size:10.0pt;
mso-bidi-font-family:">Adherence to the ethical practices is the speciality of Heritage Spa while being committed to the service excellence at the same time. When a customer enters the spa, s/he is accorded a warm hospitality. Further, the confidence of the customers is gained by properly explaining the procedures and making them understand all the dos and don’ts of the services. Maharjan says that highest degree of ethics is maintained at the staff level to provide customer satisfaction to the clients. “Even if a customer does not have any idea about spa treatments, we suggest and recommend the right services for them along with service etiquettes,” he adds.</span></p>
<p class="Default">
	<span myriad="" style="font-size:10.0pt;
mso-bidi-font-family:">Availing services at the Heritage Spa requires at least two hours prior bookings. Maharjan says that people like his spa because it is run by aestheticians trained abroad. The spa is open from 8 am to 8 pm and can offer services to 10 people at once. He adds that 15 per cent of sales are made through Internet bookings.</span></p>
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	<span myriad="" style="font-size:10.0pt;
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<p class="Pa10" style="text-align:justify">
	<span style="font-size: 10pt;">An average monthly clientele comprises of 60 per cent expatriates as the spa is located right next to a number of NGOs and INGOs around where many expats and employees of these organisations reside. The rest 40 per cent clientele comprises the locals of the area.</span></p>
<p class="Default">
	 </p>
<p class="Default">
	<span style="font-size: 10pt; text-align: justify;">The Heritage Spa is planning to develop itself as a centre for excellent spa services. The spa has its own training academy and is planning to operate a CIDESCO (Comite International Desthetique Et De Cosmetologie) – an international organisation headquartered in Zurich that offers trainings and diplomas on Aesthetics – affiliated spa academy by 2014. Maharjan believes that having a spa academy will help filling the gap between demand and supply of qualified therapists in the market.</span></p>
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	<span class="A46"><span style="font-size:
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	<strong>DEEPAL KUMAR PURKOTI<span class="A5"><span style="font-size:
10.0pt"><br />
	Sales and Marketing Manager</span></span><br />
	Fair Trade Pvt Ltd</strong></p>
<p class="Default" style="margin-left:.5in">
	<strong><span class="A5"><span style="font-size:10.0pt"><br />
	<br />
	<br />
	</span></span></strong><span class="A13"><span style="font-size:59.0pt;mso-bidi-font-family:
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color:#211D1E">o matter how much writing is being tried to be replaced by modern tools like computers and tablet PCs, writing wouldn’t be complete without a pen. When a writer’s pen writes smooth like silk and bears a powerful brand name, it would prove a cherry on top. Young toddlers to professional executives and everybody in between would love a pen that writes at every occasion. Fair Trade Pvt Ltd (FTPL), the sole authorised distributor of Pilot pens for Nepal, brings pens for all from the well known stationery brand from Japan - Pilot. <br />
	</span></p>
<p class="Pa10" style="margin-left:.5in;text-indent:14.0pt">
	<img align="left" alt="pilot" border="1" height="252" hspace="10" src="http://newbusinessage.com/ckfinder/userfiles/Images/polit.jpg" style="margin:10px;padding:10px;" vspace="10" width="334" /><span style="font-size:10.0pt;color:#211D1E">The company has made easy availability of original pens from Pilot brand at affordable prices. Besides Kathmandu, rural Nepal also receives genuine products from Pilot through the dealerships spread over major cities in various parts of Nepal. Currently, the company has dealers in Biratnagar, Birgunj, Pokhara, Narayanghat and Hetauda, said Deepal Kumar Purkoti, Sales and Marketing Manager at FTPL. He said that the company is planning to open around three new showrooms in the near future. Through these showrooms, the company targets to reach every district and the remote villages too. <br style="mso-special-character:line-break" />
	</span></p>
<p>
	 </p>
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	<span style="font-size:10.0pt;
color:#211D1E">Though the company is distributing imported pens at the moment, it is also planning to produce pens within the country that bears the brand name of Pilot. “In around one-and-a-half-year’s time, FTPL is planning to produce certain products within the country,” Purkoti revealed. The company is planning to begin production in Nepal with a low segment pen and then expand into different categories. It is in the procedure to finalise the location for setting up the industry and investment volume. Similarly, the production capacity is not finalised yet, said Purkoti. <br style="mso-special-character:line-break" />
	</span></p>
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	<span style="font-size:10.0pt;
color:#211D1E">According to him, around 1.5 million Pilot pens are sold in Nepal annually. Super-GP, V5 series, board markers, permanent markers, gel pens, ball pens, mechanical pencils are some of the most popular categories of pens sold in Nepal. Similarly, V5 pens are popular among government officials and professionals as it is smooth and easy to write even in the Nepali paper used in government offices. Super GP, ball pens and gel pens are especially popular among students. At its showroom at Dharmapath in New Road, Pilot pens cost anywhere from Rs 15 to Rs 30,000. The fountain pen costing Rs 30,000 bears an 18-carat gold nib and cover holder. <br style="mso-special-character:line-break" />
	</span></p>
<p class="Pa10" style="margin-left:.5in;text-indent:14.0pt">
	<span style="font-size:10.0pt;color:#211D1E">The showroom was established around a year back with an investment of Rs 3 million. With the growing awareness among people about the brand, Purkoti revealed that the sale of Pilot pens lately is in an increasing </span><span style="font-size:10.0pt;mso-bidi-font-family:
&quot;Myriad Pro&quot;;color:#211D1E">trend. The company imports Pilot pens from Japan. <br style="mso-special-character:line-break" />
	</span></p>
<p class="Pa10" style="margin-left:.5in;text-indent:14.0pt">
	<span style="font-size:10.0pt;mso-bidi-font-family:&quot;Myriad Pro&quot;;color:#211D1E">Dr Grip is one such pen that has antiseptic, anti-smell, anti-sweating and bacteria-free characteristics. The pen, true to its name, is even certified by doctors and costs from Rs 500 to Rs 900. Likewise FriXion series pens can write, erase and rewrite. This pen is strongly discouraged for using in examinations and signing important documents. B2P is a distinctive ball pen that is made out of recycled water bottles. The store has over 250 varieties of Pilot pens. The company is planning to bring in pens that cost around Rs 10, in the near future. FTPL is going to add more products to the available range. These upcoming products include fountain pens, V series, sketch pens, mechanical pencils, gel markers, board markers, FriXion colour sets and other products for children. </span></p>
<p class="Pa10" style="margin-left:.5in;text-indent:14.0pt">
	<span style="font-size:10.0pt;mso-bidi-font-family:&quot;Myriad Pro&quot;;color:#211D1E">FTPL has held the dealership of Pilot pen in Nepal for 30 years. It is a trading company that is in existence for three decades and has been involved in importing garments, Pilot pens, Konica Minolta products and medical equipments among others. There are 40 employees working for the company. <br style="mso-special-character:line-break" />
	</span></p>
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	<span style="font-size:10.0pt;
mso-bidi-font-family:&quot;Myriad Pro&quot;;color:#211D1E">The company is revamping its marketing strategy. Purkoti says that old dealings will be done in newer ways like having wholesalers and distributors in all five development regions. Similarly, FTPL is planning to introduce promotional offerings for both customers and retailers. It will also undertake awareness campaigns by setting up stalls at schools and colleges to spread information to students. The company is planning to give away certain pens at the purchase amounting higher than a certain limit. Likewise, it is also thinking of giving special offers and gift hampers to dealers as well. <br style="mso-special-character:line-break" />
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	<span style="font-size:10.0pt;
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	<span class="A35"><span style="font-size:15.0pt;line-height:
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	<span style="font-size:11.5pt;line-height:115%;mso-bidi-font-family:
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	<br />
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	<span class="A13"><span style="font-size:
59.0pt">S</span></span><span style="font-size:10.0pt;mso-bidi-font-family:&quot;Myriad Pro&quot;;
color:#221E1F">creening and selecting the right candidates for organizations has been a major and challenging role for Human Resource (HR) professionals in various organizations. The process of collecting and evaluating information about an individual in order to extend an offer of employment is called employee selection. Through effective selection, an organization can maximize the probability that its new employees will have the necessary KSAs (knowledge, skills, and abilities and attitudes) to do the jobs they were hired to do. Effective employee selection is a critical component of a successful organization. <br />
	<br />
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	<strong><span style="font-size:11.5pt;
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	<br />
	Screening and selecting candidates are comprehensive processes. Reaching out to the eligible candidates is the first step for successful recruitment. In the Nepali context, people prefer to read Nepali text despite their ability to read English content. Therefore, publication of vacancy advertisements with required details in Nepali magazines can have a comparative benefit. Similarly, the development and use of job specific forms helps to screen the serious and capable candidates. The process should be simple and screening criteria must be flexible that would help the HR professionals to find the right candidates. </span></p>
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	&nbsp; </p>
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	<strong><span style="font-size:11.5pt;
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	<strong>&nbsp;</strong><span style="font-size:10.0pt;mso-bidi-font-family:&quot;Myriad Pro&quot;;color:#221E1F">Reference checking is one of the methods that have been used by various organizations in selecting the right candidate. It is recommended that an option should be given to the candidate regarding referee change if the candidate thinks that the mentioned referee cannot correctly explain his/her details during the interview phase. Therefore, a referee should be someone who knows the candidate well and who can be easily approached by the organization when required but should not necessarily be someone holding a strong position.</span> </p>
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	<span style="font-size:10.0pt;
mso-bidi-font-family:&quot;Myriad Pro&quot;;color:#221E1F">Similarly, reference check has to be done from both ends i.e. previous employers and also from the candidate themselves in order to avoid biasness. There are Credit information Bureaus in a few organizations that conduct reference checking for their respective organizations. </span></p>
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<p class="Pa15" style="margin-top:5.0pt">
	<strong><span style="font-size:11.5pt;
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	<strong>&nbsp;</strong><span style="font-size:10.0pt;
mso-bidi-font-family:&quot;Myriad Pro&quot;;color:#221E1F">Candidates prefer to join Banks/INGOs and the major reason for it is the availability of transparency in terms of facilities. Generally, the limited companies have good employer brands in the market due to their transparency in facilities. Effective employer branding would contribute in reaching and attracting the right and competent candidates. </span></p>
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	<span style="font-size:10.0pt;
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	&nbsp;</p>
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	<span style="font-size:10.0pt;
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	<span class="A16"><span myriad="" style="font-size:11.5pt;line-height:
115%;font-family:">MANAGEMENT</span></span></p>
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	<span class="A2"><span mso-bidi-font-family:="" myriad="" style="font-family:">By Nobuhiro Tsuboi</span></span></p>
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	<span class="A2"><span mso-bidi-font-family:="" myriad="" style="font-family:">&nbsp;</span></span></p>
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	<span myriad="" style="font-size:32.0pt;line-height:115%;mso-bidi-font-family:
">Microfinance in the Context of Rural Nepal</span></p>
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	<span class="A35"><span myriad="" style="font-size:15.0pt;line-height:
115%;font-family:">It is said that the involvement in a microfinance programme has enabled to increase their savings.</span></span></p>
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	<span class="A35"><span myriad="" style="font-size:15.0pt;line-height:
115%;font-family:">&nbsp;<br />
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<p class="Pa24">
	<span class="A35"><span myriad="" style="font-size:15.0pt;line-height:
115%;font-family:"><span myriad="" style="font-size:15.0pt;mso-bidi-font-family:">“We are planning to open around three new showrooms in the near future. Through these showrooms, the company targets to reach every district and the remote villages too.” </span></span></span></p>
<p class="Default">
	<span class="A35"><span myriad="" style="font-size:15.0pt;line-height:
115%;font-family:">&nbsp;</span></span></p>
<p class="Default">
	<span class="A35"><span myriad="" style="font-size:15.0pt;line-height:
115%;font-family:">&nbsp;<img alt="depaak kumar purkot" border="1" height="189" hspace="10" src="http://www.newbusinessage.com/ckfinder/userfiles/Images/DEEPAL-KUMAR-PURKOTI.jpg" vspace="10" width="152" /></span></span></p>
<p class="MsoNormal">
	<span class="A35"><span myriad="" style="font-size:15.0pt;line-height:
115%;font-family:"><strong><span class="A5"><span style="font-size:10.0pt">DEEPAL KUMAR PURKOTI <br />
	Sales and Marketing Manager </span></span></strong><br />
	<strong><span class="A5"><span myriad="" style="font-size:10.0pt;line-height:
115%;font-family:">Fair Trade Pvt Ltd<br />
	</span></span></strong><br />
	</span></span></p>
<p class="Pa10" style="text-align:justify;text-indent:14.0pt">
	<span class="A13"><span style="font-size:
59.0pt">I</span></span><span myriad="" style="font-size:10.0pt;mso-bidi-font-family:">n rural Nepal, microfinance has more than 20 years’ history with Cooperative Act 1992 and people’s expectation to reduce rural poverty. It is said that the involvement in a microfinance programme has enabled to increase their savings.* This report introduced real achievement on the clients’ saving data deposited at SFCL Manahari in Makwanpur District.**</span></p>
<p class="Pa10" style="text-align:justify;text-indent:14.0pt">
	<strong><span myriad="" style="font-size:11.5pt;
mso-bidi-font-family:"><br />
	<img alt="financial" border="1" height="811" hspace="10" src="http://www.newbusinessage.com/ckfinder/userfiles/Images/financial(3).jpg" vspace="10" width="600" /><br />
	<br />
	Facts on the Ground</span><br />
	<br />
	</strong><span myriad="" style="font-size:10.0pt;mso-bidi-font-family:">First of all, I show the changes of 484, all continuous shareholder families’ financial assets for the period of July 2006-July 2011. Its growth ratio is 140.3 per cent as shown in Table 1. ‘Family financial assets’ consist of all financial assets deposited at the SFCL and belong to individual families i.e. shares, compulsory group savings, each voluntary individual savings and family members’ individual savings. ‘Continuous shareholder’ means those who were shareholders continuously at least from 2006 to 2011. Incidentally, the number of shareholders was 771 in 2006 and 1,155 in 2011, of which 484 shareholders have been continuous shareholders for the period. </span></p>
<p class="Pa10" style="text-align:justify;text-indent:14.0pt">
	<span myriad="" style="font-size:10.0pt;mso-bidi-font-family:">As the price index of 2011 is estimated as 155 for 2006=100, two groups of ‘65 per cent and more’ and ’55-65 per cent’ i.e. 79.3 per cent of continuous shareholders realized growth in real price terms. I watched the group of ‘65 per cent and more’ i.e. 75.6 per cent of the total increased their assets by 10 per cent and more in real price terms, and further from that, their average growth ratio is 308.2 per cent.</span><br />
	<br />
	<br />
	<strong><span myriad="" style="font-size:11.5pt;
mso-bidi-font-family:">Investment by their Own Assets</span><br />
	<br />
	</strong><span myriad="" style="font-size:10.0pt;mso-bidi-font-family:">In spite of neglecting investment by their own financial assets for this period, 3/4th of the total continuous shareholders realized 10 per cent and more growth in real price terms. If we consider their investments by using their own financial assets, the situation of the changes will be different. Especially, as to the ‘Less than 0 per cent’ group with 40 shareholders, their average amount of initial assets was biggest of all groups and they would have enough chance to invest. Their negative growth seems to be partially because of these investments.</span><span myriad="" style="font-size:11.5pt;
mso-bidi-font-family:"><br />
	<br />
	<br />
	</span><strong><span myriad="" style="font-size:11.5pt;
mso-bidi-font-family:">Improvement in Distribution of Assets</span><br />
	<br />
	</strong><span myriad="" style="font-size:10.0pt;mso-bidi-font-family:">The distribution of assets improved significantly as shown in Table 2 and Figure 1. I classified all the 484 continuous shareholders into three classes: the Top of 10 per cent of the total (48 shareholders), the Middle of 30 per cent (144) and the Low of 60 per cent (292). The class of ‘Top’ consists of members having largest financial assets among all. The assets accumulation of ‘Top’ decreased from 42.5 per cent in 2006 to 37.1 per cent in 2011. On the contrary, assets accumulation of ‘Low’ increased from 20.2 per cent to 27.5 per cent. </span></p>
<p class="Pa10" style="text-align:justify;text-indent:14.0pt">
	<span myriad="" style="font-size:10.0pt;mso-bidi-font-family:">I confirmed the improvement of assets accumulation by Gini coefficient as shown in Figure 1. It improved by 0.104 point from 0.576 in 2006 to 0.472 in 2011. From the view of asset equity, the above change is desirable. </span></p>
<p class="MsoNormal">
	&nbsp;<img alt="shraeholder" border="1" height="328" hspace="10" src="http://www.newbusinessage.com/ckfinder/userfiles/Images/shareholder.jpg" vspace="10" width="295" /></p>
<p class="MsoNormal">
	 </p>
<p class="Default">
	<strong><span myriad="" style="font-size:11.5pt;
mso-bidi-font-family:">Character of the study</span> </strong><br />
	 </p>
<p class="MsoNormal">
	<span myriad="" style="font-size:10.0pt;mso-bidi-font-family:">This study has the following three characteristics: Analysis of the change in financial assets belonging to individual families for five years from 2006 to 2011, Analysis using SFCL share and saving data, and Abstract of 484 ‘continuous families’ from among all shareholders.</span></p>
<p class="Pa10" style="text-align:justify;text-indent:14.0pt">
	<span myriad="" style="font-size:10.0pt;mso-bidi-font-family:">I analyzed continuous shareholders because there are big differences in amount of assets among shareholders with different passage years as shareholders of SFCL as shown in Table 3. It means that we had to exclude new beneficiaries whose involvement years are relatively shorter. In this study, I excluded shareholders with less than five years passage. </span></p>
<p class="MsoNormal">
	 </p>
<p class="Pa10" style="text-align:justify;text-indent:14.0pt">
	<span myriad="" style="font-size:10.0pt;mso-bidi-font-family:">(This survey was conducted with the cooperation of Nepal National Agricultural Cooperative Central Federation Ltd and JICA Nepal Office in February-July 2012.)</span><br />
	<br />
	<span myriad="" style="font-size:11.5pt;
mso-bidi-font-family:">Further Subjects</span><br />
	<br />
	<span myriad="" style="font-size:10.0pt;mso-bidi-font-family:">I cannot say whether we can observe same trends in the achievement of other SFCLs and rural microfinance institutions. I hope this kind of study will be conducted in the future as well and at least 2-3 institutions in each microfinance group. </span></p>
<p class="MsoNormal">
	 </p>
<p class="MsoNormal">
	<strong>&nbsp;</strong></p>
<p class="MsoNormal">
	<strong><span myriad="" style="font-size:8.0pt;line-height:115%;mso-bidi-font-family:
">Tsuboi is a Retired Professor of University of Tsukuba, Japan. He can be reached via email at <a href="mailto:tsuboin43@nifty.com">tsuboin43@nifty.com</a>.</span></strong></p>
<p class="MsoNormal">
	 </p>
<p class="MsoNormal">
	<strong><span myriad="" style="font-size:8.0pt;line-height:115%;mso-bidi-font-family:
">&nbsp;</span></strong></p>
<p class="Pa15" style="margin-top:5.0pt">
	<strong><span myriad="" style="font-size:11.5pt;
mso-bidi-font-family:">References: </span></strong></p>
<p class="Pa32" style="margin-left:14.0pt;text-align:justify;text-indent:-14.0pt">
	<strong><span myriad="" style="font-size:10.0pt;mso-bidi-font-family:">* Nara Hari Dhakal, “Impact of Microfinance Services on Poverty Reduction in Nepal”, INAFI, SAP-Nepal, 2005, p.46. </span></strong></p>
<p class="Default">
	<strong>&nbsp;</strong></p>
<p class="MsoNormal">
	<strong><span myriad="" style="font-size:10.0pt;line-height:115%;mso-bidi-font-family:
">** SFCL: Small farmer agricultural cooperative ltd. SFCL Manahari has a history of ‘small famer development </span></strong></p>
<p class="MsoNormal">
	<strong><span myriad="" style="font-size:10.0pt;line-height:115%;mso-bidi-font-family:
">programme’ of ADB/N in 1980, and it was converted to SFCL in 1998. The number of shareholders is 1,155 at July 2011.</span></strong></p>
<p class="MsoNormal">
	<strong><span myriad="" style="font-size:10.0pt;line-height:115%;mso-bidi-font-family:
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<p class="MsoNormal">
	<span mso-bidi-font-family:="" myriad="" style="font-size:24.0pt;mso-bidi-font-size:11.0pt;
line-height:115%;font-family:">‘We have been Able to Address the Problems Faced by Nepali Traders’</span></p>
<p class="MsoNormal">
	<span mso-bidi-font-family:="" myriad="" style="font-size:24.0pt;mso-bidi-font-size:11.0pt;
line-height:115%;font-family:">&nbsp;<img alt="viraj" border="1" height="449" hspace="10" src="http://www.newbusinessage.com/ckfinder/userfiles/Images/Viraj-Rai.jpg" vspace="10" width="300" /></span></p>
<p class="Pa1">
	<span class="A24"><span style="font-size:14.0pt">Viraj Rai </span></span><span class="A24"><span style="font-size:14.0pt;color:#221E1F">is the Line Manager of TLPL Shipping &amp; Logistics Pvt Ltd. </span></span></p>
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	 </p>
<p class="MsoNormal">
	<span myriad="" style="font-size:11.5pt;line-height:115%;mso-bidi-font-family:
">The company is a member of Transworld Group that has interests in wide ranging areas from shipping, ship owning, ship management, agency business and forwarding to logistics and supply chain management. To ease the export/ import business into Nepal, the company is expanding its business in Nepal by offering Thru B/L service thereby transforming the ICD of Birgunj either into a truly functional hinterland dry port of loading to ICD or into a Dry Port. Rai was in Kathmandu to participate in a trade meet organized by Nepal Foreign Trade Association. In an interview with New Business Age, Rai has emphasized on the need of transport facilities for the importers operating international trade in Nepal. Excerpts:</span></p>
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<p class="Pa23" style="margin-top:5.0pt">
	<strong><span myriad="" style="font-size:11.5pt;line-height:115%;mso-bidi-font-family:
">&nbsp;</span><span myriad="" style="font-size:10.0pt;
mso-bidi-font-family:">Could you please highlight the reason for your visit? </span></strong></p>
<p>
	<span myriad="" style="font-size:10.0pt;
mso-bidi-font-family:">The reason for visiting Nepal this time has been to organize the trade meet, a long-term demand of the Nepal trade. So, we are promoting it through BL service, whereby importers in Nepal can greatly scan by availing our single window point-to-point total logistic solution. It will facilitate picking up the cargo from the port of origin or from the factory of the supplier and move it up to ICD Birgunj and issue them one single multimodal document BL for their entire service. As a result, they end up saving huge amount of cost. In normal convention system right now, they pay for detentions or delays from Kolkata port right up to ICD Birgunj. Moreover, we take care of that by providing that service and giving delivery to them in Birgunj and any delay in between is not a cost for them as we cover that risk in our service.</span><span myriad="" style="font-size:10.0pt;
mso-bidi-font-family:"><br />
	<br />
	The whole purpose of our visit was to promote our services especially in Kathmandu. We have started this service more than a year ago. Earlier, it was introduced in Birgunj under the Birgunj Chamber of Commerce, and we wanted to fine tune and improve it further. Therefore, we have been learning, fine-tuning, and improving ourselves during this period. We have felt in recent times that we are ready to take this to the next level. That is why we felt the need to organize this trade meet and address the entire trade in Kathmandu </span></p>
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	 </p>
<p class="MsoNormal">
	<strong>&nbsp;</strong></p>
<p class="Pa23" style="margin-top:5.0pt">
	<strong><span myriad="" style="font-size:10.0pt;
mso-bidi-font-family:">What types of problems are the Nepalis importers facing while bringing goods from different ports through ICD Birgunj? </span></strong></p>
<p class="Pa10">
	<span myriad="" style="font-size:10.0pt;mso-bidi-font-family:">Since Nepal is a landlocked country, it is wholly dependent on nearby Kolkata ports. There are many problems put forward by Nepali importers while bringing goods from different ports. To begin with, they do not have control over the shipment period or the time and the container in sea. However, once it reaches the land, there is still uncertainty because there may be some delays at the Kolkata port in loading the container or delays in the train itself. Throughout this entire process, they have to depend on outside agencies for information flow and updates. Currently, they have to depend on shipping land to know the status when the container would reach Kolkata. They need to depend on the forwarder or the CHA to know when the container would be cleared at Kolkata port. Then they need to know when it would be loaded on wreck after which they need to follow up to know when the ship will reach Birgunj. In our service, we do away with all this. We give a single window solution and all the information flow is provided locally here at Birgunj. Therefore, this is a big solution to one of the biggest problems that Nepali trade is facing. </span></p>
<p>
	<span myriad="" style="font-size:10.0pt;
mso-bidi-font-family:">At the same time, because we are covering TLPL up to Birgunj, we have seen most of them paying huge amount of detention cost in the current conventional system. Due to this, crores of rupees is being paid to Indian shipping agents for the time taken for the containers to come from Kolkata and to go back which is normally much beyond the free time given by shipping lines. So, in our case, we cover that risk by providing service up to Birgunj so that there is further cost saving to the trade. These are two of the major problems being faced by the Nepali traders and we have been able to address it. At our level, we cannot address other problems that have been faced by the traders. It has to be done in accordance with India- Nepal treaties. However, the problems that we are addressing are within our control as it is based around shipping and land logistics. </span></p>
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	 </p>
<p class="Pa23" style="margin-top:5.0pt">
	<strong><span myriad="" style="font-size:10.0pt;
mso-bidi-font-family:">What were the queries from the importers during the trade meet? </span></strong></p>
<p>
	<span myriad="" style="font-size:10.0pt;
mso-bidi-font-family:">At the end of it, everybody is looking at the bottom line. Therefore, they look at ways to reduce the cost. The feedback we received from the audience is that sometimes the Kolkata port is congested. The next concern was how fast the container can be loaded for Birgunj. In the present scenario, it is not possible to give a guaranteed time. Then there is addressing of issues on a larger scale from government-to-government through transit treaty or rail service agreement between the two nations. </span> <br />
	<strong>&nbsp;</strong></p>
<p class="Pa23" style="margin-top:5.0pt">
	<strong>&nbsp;<span myriad="" style="font-size:10.0pt;
mso-bidi-font-family:">How are you going to address the problems faced by the importers and exporters?</span></strong></p>
<p class="MsoNormal">
	<strong>&nbsp;</strong><span myriad="" style="font-size:10.0pt;
mso-bidi-font-family:">One is the timely flow of information. There are also times when the traders find our rates little high so they give their business to the traditional forwarders. However, they are still in touch with us to try to get information that possibly they are not getting as accurately from their existing forwarders. Therefore, we do get calls regularly from importers in Nepal asking us to cross check on information. In the present scenario, they probably want to verify the information they are getting. In our service, the information flow will come from us directly and given to them in Nepal. They do not need to call at Kolkata as the entire single window solution will be given here in Nepal itself.<br />
	<br />
	The second one is the cost element that we see on an average. There is a huge amount of detention cost being paid because of delays between Kolkata and Birgunj and empty containers going back. In our service, the container is going to be allowed up to Birgunj after which we plan to give three days free time for local importers at Birgunj and five days for importers from Kathmandu and Pokhara. According to me, these are ample time frames for the importers to empty containers and send them back to Birgunj. Once they return the containers to Birgunj, their responsibility ends there. They have no detentions to worry about because it’s us who cover that cost element. This is a two-fold benefit and we will see how we can add further value to this entire service. Along the line, we would also look for cutting down on costs that are within our control.</span></p>
<p>
	<strong>&nbsp;</strong></p>
<p class="MsoNormal">
	<strong><span myriad="" style="font-size:10.0pt;
mso-bidi-font-family:">What are the weaknesses of Nepali exporters/importers while using your services?</span> <br />
	</strong></p>
<p class="MsoNormal">
	<span myriad="" style="font-size:10.0pt;mso-bidi-font-family:">Many traders import from China. There seems to be a miscommunication between the importer and supplier. Therefore, when we approach the supplier, we find it has not been properly informed that we are the nominated carriers. We see this mistake on flow of information to the suppliers a number of times. The other mistake is about error in documentation. There are times when the information provided to us is not accurate and we have to give back the documents to the importers. In addition, sometimes the documents sent for clearing the container at Kolkata are incomplete. These are small mistakes but they definitely lead to delays and increase the cost. Luckily, we have the provision in Indian customs to clear the cargo through copies of the documents so that it saves time while couriering the originals. With time, the number of mistakes has lowered as our customers are more aware now. With the new customers, we have to possibly educate them beforehand and see how they can avoid these mistakes.</span><strong><br />
	<br />
	</strong></p>
<p class="Pa23" style="margin-top:5.0pt">
	<strong><span myriad="" style="font-size:10.0pt;
mso-bidi-font-family:">In your opinion, how can Nepali traders become more competitive?</span></strong></p>
<p class="MsoNormal">
	<span myriad="" style="font-size:10.0pt;mso-bidi-font-family:">There is certainly a disadvantage being a landlocked country where you are dependent on ports. However, by utilizing our services, the traders would get advantage of cost which will make them competitive. In addition, if they focus on error free documentation and timely information flow, it will lead towards reduction of mistakes and eventually provide cost competitiveness to them. In today’s world when everything is online, I am sure that they can utilize the tools being offered by technology to bring down costs. We have seen in the past how Nepal has played its role in the export of garments and carpets. Therefore, there is an advantage of labor and craftsmanship somewhere along the line. If the traders can change their set mindset and accept the new technological services provided by us, it will definitely be beneficial for them.<br />
	<br />
	<br />
	</span></p>
<p class="MsoNormal">
	<strong><span myriad="" style="font-size:10.0pt;
mso-bidi-font-family:">The Nepali traders complain that they do not get information of their goods after they load it at the port to be sent to Nepal. What is your take on it?</span> <br />
	</strong></p>
<p class="MsoNormal">
	<span myriad="" style="font-size:10.0pt;mso-bidi-font-family:">Most of the customers who had the problem of not getting timely information are not particularly going by the system of traditional movement right now. This is where they have answered their own problem. We have assured them timely information and movement of the containers provided they give us the chance. Our service is the solution to their existing problems.</span></p>
<p class="MsoNormal">
	 </p>
<p class="Pa23" style="margin-top:5.0pt">
	<strong><span myriad="" style="font-size:10.0pt;
mso-bidi-font-family:">They also say that your service is a bit expensive and takes more time in comparison to other modes of transportations to Nepal. What do you say?</span></strong></p>
<p class="MsoNormal">
	<span myriad="" style="font-size:10.0pt;line-height:115%;mso-bidi-font-family:
">We have not seen any importers who have not paid detentions. In fact, most of them are paying it. They need to look at their cost and compare it. When we prepare quotations, most of the customers ask for cost breakup till Kolkata. This is not possible for us as we offer complete package solution. At the end of the day, we say that give us a chance to serve you. Our existing customers believed in us and subscriber to our idea. Moreover, those who started with us have stuck to us so far. We can always negotiate and come to an agreeable rate. Nevertheless, I can assure that in the long run, the cost benefit to the Nepali traders would be far more than what they think right now.</span></p>
<p class="MsoNormal">
	<span myriad="" style="font-size:10.0pt;line-height:115%;mso-bidi-font-family:
">&nbsp;<br />
	<br />
	<br />
	</span></p>
<p class="MsoNormal">
	<span mso-bidi-font-family:="" myriad="" style="font-size:24.0pt;mso-bidi-font-size:11.0pt;
line-height:115%;font-family:">‘A Restaurant is a Personality Driven Business’</span></p>
<p>
	<br />
	<img alt="harikarki" border="1" height="354" hspace="10" src="http://www.newbusinessage.com/ckfinder/userfiles/Images/Hari-Karki(1).jpg" vspace="10" width="257" /></p>
<p class="MsoNormal">
	<span class="A24"><span style="font-size:14.0pt">Hari Karki </span></span><span class="A24"><span style="font-size:14.0pt;color:#221E1F">is the owner of GURU, a Hong Kong based Indian Restaurant as well as a Spanish eatery. </span></span> <br />
	 </p>
<p class="MsoNormal">
	<span myriad="" style="font-size:11.5pt;line-height:115%;mso-bidi-font-family:
">He started his career as a trainee in Hotel Soaltee Oberoi in 1993. Besides Food &amp; Beverage business, he is involved with Universal Music Company. Karki, permanent resident of Hong Kong is also involved in a website business associated with Hong Kong Jockey Club (HKJC). The project is funded by HKJC and is worth 15 million Hong Kong dollars. In an interview with New Business Age, Karki divulged his plans for business expansion in Kathmandu in the near future. Excerpts:<br />
	</span></p>
<p class="MsoNormal">
	 </p>
<p class="MsoNormal">
	<strong><span myriad="" style="font-size:11.5pt;line-height:115%;mso-bidi-font-family:
">&nbsp;</span></strong></p>
<p class="Pa23" style="margin-top:5.0pt">
	<strong><span myriad="" style="font-size:10.0pt;
mso-bidi-font-family:">Would you like to kindly share some experiences regarding early days in your career?<br />
	</span></strong></p>
<p class="Pa10" style="text-indent:14.0pt">
	<span myriad="" style="font-size:10.0pt;
mso-bidi-font-family:">I started my hotel career as a trainee in Soaltee Oberoi in 1993 that lasted for nine months. Although the training was very basic, it was helpful for building the foundation of my career. After that, I joined Hotel Himalaya, which was a very important decision for my career. It provided me a strong base and I received support from many good colleagues there. That is where I learned the value of decision-making procedures. </span></p>
<p class="MsoNormal">
	<strong>&nbsp; <br />
	<span myriad="" style="font-size:10.0pt;
mso-bidi-font-family:">How was your experience working in the Food and Beverage industry abroad? <br />
	<br />
	</span></strong><span myriad="" style="font-size:10.0pt;
mso-bidi-font-family:">While working at Hotel Himalaya, I thought about pursuing higher studies. So, I went to Bahrain for management studies and afterwards, worked for a year there. Thereafter, I went to Hong Kong for holidays. That is how I landed in Hong Kong. In the meanwhile, I resigned from the Bahrain hotel I was working at. In Hong Kong, I started working at Curry Pot Restaurant as one of my friends was working there already. They were looking for manager at that time. The moment I landed there, I realized the tremendous potential that the restaurant had. I started working and within a few months, I brought about many changes within the restaurant. We were able to open three outlets of the restaurant soon. We also created a brand “Curry in a Hurry” fast food chain in Hong Kong. Later, I was given 25 per cent equity and there were 145 employees working under me.</span></p>
<p class="MsoNormal">
	<span myriad="" style="font-size:10.0pt;mso-bidi-font-family:">One important aspect of this industry is to make customers feel that we care for them and at the same time, not ready to compromise with high standards. You need to improvise on the quality of food, service, and everything else. Hong Kong is a very competitive city and there are unique ideas and people everywhere. You need to compete with them in order to capture the market.</span></p>
<p class="MsoNormal">
	<strong>&nbsp;</strong></p>
<p class="Pa23" style="margin-top:5.0pt">
	<strong><span myriad="" style="font-size:10.0pt;
mso-bidi-font-family:">Are you involved in any other business currently apart from Food and Beverages business?</span></strong></p>
<p class="MsoNormal">
	<span myriad="" style="font-size:10.0pt;line-height:115%;mso-bidi-font-family:
">Besides Food and Beverage business, I am involved with Universal Music Company. We are involved in website business associated with Hong Kong Jockey Club (HKJC). The project is funded by HKJC and is a 10 million Hong Kong dollar project with additional five million for marketing. This makes the project worth a total of Rs 15 million Hong Kong dollars. The reason for setting this website is for lottery, horse racing, football gambling etc. Since HKJC cannot directly promote gambling, they create lifestyle websites called as Fasttrack.hk to encourage youths towards such activities. It is the Asian perspective of entertainment and we promote it as an essence of lifestyle. We update our subscribers with new information regarding fashion, music, politics etc. <br />
	</span></p>
<p class="MsoNormal">
	&nbsp;Currently, I am planning to expand the Food and Beverage business. I am also working on a Brazilian concept outlet. I think this is a good idea as Brazil is hosting the 2014 Football World Cup. At that time, the craze for Brazil will be higher therefore, we are working on that aspect. I am also looking forward to invest in Kathmandu so I am trying to find right partners here to start unique ventures.</p>
<p class="MsoNormal">
	<strong><strong>&nbsp;</strong></strong></p>
<p class="Pa23" style="margin-top:5.0pt">
	<strong><span myriad="" style="font-size:10.0pt;
mso-bidi-font-family:">What are the new trends, besides food, to run restaurants successfully in today‘s age?</span></strong></p>
<p class="MsoNormal">
	<span myriad="" style="font-size:10.0pt;
mso-bidi-font-family:">I think the new trend is the people who run such businesses. Besides food, interior plays a vital role and adds soul to restaurants. It is a personality driven business. It could be the personality of the manager, waiters, or the restaurant itself. If you could put the soul of your staffs to provide service to your customers, they matter more than the expensive furniture, wines, or any other aspect of the restaurants.</span></p>
<p class="Pa10" style="text-indent:14.0pt">
	<span myriad="" style="font-size:10.0pt;
mso-bidi-font-family:">Therefore, gone are the days when the hotel employees treated the customers with mere words. These days, there is a new trend in Hong Kong where the customers and the employees of restaurants or hotels treat each other as friends. </span></p>
<p class="Pa10" style="text-indent:14.0pt">
	&nbsp;<br />
	<strong><span myriad="" style="font-size:10.0pt;
mso-bidi-font-family:">Would you like to explain about the potential cutleries that are to be used in restaurants?</span><br />
	<br />
	</strong><span myriad="" style="font-size:10.0pt;
mso-bidi-font-family:">Everybody wants to be updated these days. When anything comes to your table, it is very essential to work on details. You want to use contemporary utensils to catch up with the changing desires of the customers. Having said so, I would like to add that the look of the equipments and the cutleries should match with the theme of the restaurant. If you are running a modern restaurant, you cannot afford to place old cutleries there. Therefore, you need to update accordingly. </span></p>
<p class="MsoNormal">
	&nbsp;<strong> <br />
	</strong></p>
<p class="Pa23" style="margin-top:5.0pt">
	<strong><span myriad="" style="font-size:10.0pt;
mso-bidi-font-family:">What are the areas that Nepali hoteliers should improve upon?</span></strong></p>
<p class="MsoNormal">
	<span myriad="" style="font-size:10.0pt;
mso-bidi-font-family:">I came here a couple of years ago. The sad thing is that when I went to the same place, I found that the menu had not changed. The good part was that the people working there were the same. However, it was clear that they were not being able to keep pace with the trend. The question is not only about wanting to upgrade but whether the entrepreneurs are actually doing it in practice. However, at the end of the day, it’s the customers who decide about the change.</span></p>
<p class="MsoNormal">
	<span myriad="" style="font-size:10.0pt;
mso-bidi-font-family:">Customers visit the restaurants and hotels to feel the difference. However, if they get the same boring treatment through the services of hotels and restaurants, they would not enjoy it. Therefore, in this particular business, the first thing is to upgrade our services in a similar manner we upgrade our life itself.</span></p>
<p class="MsoNormal">
	<strong><strong>&nbsp;</strong></strong></p>
<p class="Pa23" style="margin-top:5.0pt">
	<strong><span myriad="" style="font-size:10.0pt;
mso-bidi-font-family:">It is said that the services of the five star hotels here in Nepal is equivalent to the services of three star hotels abroad. What is your comment on this comparison?</span></strong></p>
<p class="MsoNormal">
	<span myriad="" style="font-size:10.0pt;mso-bidi-font-family:">Well, I do not think that the comparison is fair. The categorization of hotels or restaurants depends on the kind of service you provide to your customers. For instance, there are many ways of providing service to your customers. Serving is an art in itself which sets you apart from others. It is an important aspect that every restaurants and hotels should understand while providing services to their clients.</span></p>
<p class="MsoNormal">
	 </p>
<p class="Pa23" style="margin-top:5.0pt">
	<strong><span myriad="" style="font-size:10.0pt;
mso-bidi-font-family:">What improvements should the service provider bring to achieve perfection in services provided to the clients? </span></strong></p>
<p class="MsoNormal">
	<strong>&nbsp;</strong><span myriad="" style="font-size:10.0pt;mso-bidi-font-family:">I think, to begin with, the trainer should get the proper training themselves. Then only, they will be able to train their staffs accordingly. When you do not update yourself, you will not come to know about new trends in the business. These days, customers seldom complain about your service. They simply stop coming to your place. If your customers complain about your services, you must take it positively and think of these customers as your well-wishers. People do not have the time to point out your weaknesses all the time so it is your responsibility to upgrade your service in accordance with the present time. Tell us something about your restaurant and the investment figures involved.</span></p>
<p class="Pa10">
	<span myriad="" style="font-size:10.0pt;mso-bidi-font-family:">The theme of my restaurant is simple and it is unique that in a very short period of time, the restaurant has created a brand of its own. There has been a breakthrough in Indian cuisine and you can find good reviews and comments about my restaurants on my website. It has been almost three-and-a-half years now. The investment in the restaurant is 2.5 million Hong Kong dollars while the annual turnover is around 4.2 million Hong Kong dollars. With an area of 1500 square feet, the seating capacity of the restaurant is 175 people. <br />
	<br />
	</span></p>
<p class="MsoNormal">
	<strong><span myriad="" style="font-size:10.0pt;
mso-bidi-font-family:">When you travel around the world, you can see many Indian restaurants, however, there are very few Nepali restaurants abroad. Is it because we lack varieties to offer in terms of our cuisine?&nbsp;&nbsp;&nbsp; </span></strong></p>
<p class="MsoNormal">
	<span myriad="" style="font-size:10.0pt;mso-bidi-font-family:">I do not agree with this observation of yours. In my opinion, you have to study the market before you start any business. For instance, if you target only Indian customers at Indian restaurants, you will fail. You have to think holistically. In Hong Kong also, Nepalis have great scope everywhere as the people of Hong Kong have tremendous respect for Nepalis. I also serve some Nepali delicacies at my restaurants. We have enough scope to serve Nepali delicacies to the customers in Hong Kong.</span>&nbsp; <br />
	 </p>
<p class="MsoNormal">
	<strong><span myriad="" style="font-size:10.0pt;
mso-bidi-font-family:">How are Nepali businesspersons doing in Hong Kong?</span> <br />
	</strong></p>
<p class="Pa10">
	<span myriad="" style="font-size:10.0pt;mso-bidi-font-family:">The involvement of Nepalis in Food and Beverage business is remarkable. They have left even the westerners behind, in this respect. Let me give you one example. Few months ago, two young Nepali men opened two new outlets called Escape and China Bar with an investment of 16 million Hong Kong dollars. They are doing fabulous business In terms of other businesses, Nepalis are involved in import/export, construction, travel agency etc. I must say they are doing well for themselves in Hong Kong. </span></p>
<p class="MsoNormal">
	 </p>
<p class="Pa23" style="margin-top:5.0pt">
	<strong><span myriad="" style="font-size:10.0pt;
mso-bidi-font-family:">Are you associated with the NRN Association? Are there any NRN businesspersons who are doing business here? </span></strong></p>
<p class="MsoNormal">
	<span myriad="" style="font-size:10.0pt;line-height:115%;mso-bidi-font-family:
">I am a member of the association, however, I am not actively involved in it. As an idea, it is good. However, I do not see where they are heading. It all depends on who is leading the association. There are many NRNs doing business here. Some are involved in banking, travel agencies, trading, and others. I think that everyone has to work on their strong aspect, start from scratch and then dream big. If I have to start a business here, I will have to learn the basics about the market. That is the reason why I am looking forward to appropriate partners here in Nepal. I would need at least six months to study the market locally.</span></p>
<p class="MsoNormal">
	<span myriad="" style="font-size:10.0pt;line-height:115%;mso-bidi-font-family:
">&nbsp;</span></p>
<p class="MsoNormal">
	<span myriad="" style="font-size:10.0pt;line-height:115%;mso-bidi-font-family:
">&nbsp;</span></p>
<p class="MsoNormal">
	<span mso-bidi-font-family:="" myriad="" style="font-size:24.0pt;mso-bidi-font-size:11.0pt;
line-height:115%;font-family:">‘We See a Huge Yet-to-be-Tapped Market for BUSY in Nepal’</span></p>
<p class="MsoNormal">
	<span mso-bidi-font-family:="" myriad="" style="font-size:24.0pt;mso-bidi-font-size:11.0pt;
line-height:115%;font-family:">&nbsp;<br />
	<img alt="pankaj" border="1" height="408" hspace="10" src="http://www.newbusinessage.com/ckfinder/userfiles/Images/Pankaj-Kumar-Roy.jpg" vspace="10" width="331" /><br />
	</span></p>
<p class="MsoNormal">
	<span class="A24"><span style="font-size:14.0pt">Pankaj Kumar Roy </span></span><span myriad="" style="font-size:11.5pt;line-height:115%;mso-bidi-font-family:
"><span style="font-size:14.0pt;color:#221E1F">is Business Development Manager at Busy Accounting Software, one of the popular accounting and inventory management software for MSMEs in India.&nbsp; </span></span><br />
	<span myriad="" style="font-size:11.5pt;line-height:115%;mso-bidi-font-family:
">&nbsp;</span></p>
<p class="MsoNormal">
	<span myriad="" style="font-size:11.5pt;line-height:115%;mso-bidi-font-family:
">The company has currently over half-a-million users in over 20 countries. BUSY 12 is the software that the company has introduced lately. Roy visited Kathmandu recently for the expansion of his software business in Nepal. In an interview with New Business Age, he talked about the importance of accounting software in Nepal’s business sector. Excerpts:</span></p>
<p class="MsoNormal">
	<strong><strong>&nbsp;</strong></strong></p>
<p class="Pa23" style="margin-top:5.0pt">
	<strong><span myriad="" style="font-size:10.0pt;
mso-bidi-font-family:">What is the purpose of your visit to Nepal this time?</span></strong></p>
<p class="MsoNormal">
	<span myriad="" style="font-size:10.0pt;
mso-bidi-font-family:">This time, we came here for the promotion of our new software BUSY 12. We are providing technical support to busy users as well as providing training to channel partners on BUSY 12 – our latest version for BUSY range of accounting software.</span></p>
<p class="MsoNormal">
	<strong><span myriad="" style="font-size:10.0pt;
mso-bidi-font-family:"><br />
	What are the major features of your software products?</span><br />
	<br />
	</strong><span myriad="" style="font-size:10.0pt;
mso-bidi-font-family:">BUSY is an accounting and inventory management software. The salient features of BUSY are: Financial Accounting, Inventory Management, Statutory Reports, Invoicing, Production, Bill of Material, Multi- Location management, checks and controls, MIS and many more.</span></p>
<p class="MsoNormal">
	<strong><strong>&nbsp;</strong></strong></p>
<p class="Pa23" style="margin-top:5.0pt">
	<strong><span myriad="" style="font-size:10.0pt;
mso-bidi-font-family:">Please tell us something about your software BUSY 12. Who are the target groups for this product?</span></strong></p>
<p class="MsoNormal">
	<span myriad="" style="font-size:10.0pt;
mso-bidi-font-family:">BUSY 12 is an accounting and inventory software with a host of new features and enhanced functionalities including sales/purchase quotation, customizable reports, data access through SMS/e-mail, auto back-up of data and provision for voucher audit etc. It’s an ERP for SMEs which allows businesses to manage their accounting, inventory, invoicing, and statutory requirements. It also offers a feature that would help the user in securing their data against theft and misuse, thus maintaining a better control mechanism. It also enables users in preparing sales or purchase quotation. All businesses which require software to manage their business are our target customers. Hence, all SMEs and in fact the corporate houses also, can benefit from BUSY 12.</span></p>
<p class="MsoNormal">
	<strong><strong>&nbsp;</strong></strong></p>
<p class="MsoNormal">
	<strong><span myriad="" style="font-size:10.0pt;
mso-bidi-font-family:">How are you promoting your business in Nepal?</span> <br />
	</strong></p>
<p class="Pa10">
	<span myriad="" style="font-size:10.0pt;mso-bidi-font-family:">We sell our software through the channel partners in Nepal. Currently, we have three channel partners in Kathmandu and multiple resellers working for these channel partners. As an organization, we put big emphasis on customer satisfaction so we plan regular visits to our customers to resolve their issues. We regularly participate in leading exhibitions in Nepal and organize seminars and workshops also. Moreover, we take regular feedback from our partners and customers to incorporate features specific to businesses requirements in Nepal.</span></p>
<p class="MsoNormal">
	<strong><strong>&nbsp;</strong></strong></p>
<p class="Pa23" style="margin-top:5.0pt">
	<strong><span myriad="" style="font-size:10.0pt;
mso-bidi-font-family:">What are your plans to attract more number of people using your services?</span></strong></p>
<p class="Pa10">
	<span myriad="" style="font-size:10.0pt;mso-bidi-font-family:">As I mentioned earlier, customer satisfaction is our motto. We believe in a theory that ‘one happy customer refers you to ten more,’ so we are striving hard to make our customer feel happiest which we believe will boost our business. We have plans to organize meetings, workshops and seminars regularly to train and educate people on BUSY. Moreover, we would be participating in leading exhibitions and advertising in leading newspapers too. </span></p>
<p class="MsoNormal">
	 </p>
<p class="Pa23" style="margin-top:5.0pt">
	<strong><span myriad="" style="font-size:10.0pt;
mso-bidi-font-family:">How can Nepali Industries benefit from your products?</span></strong></p>
<p class="Pa10">
	<span myriad="" style="font-size:10.0pt;mso-bidi-font-family:">We have so many excellent features in BUSY which simplify the businesses of Nepali SMEs. For example, we provide Nepal VAT reports, Nepali date, computerised billing, checks and controls, multi-branch management etc including other features which have been beneficial for Nepali businesses. </span></p>
<p class="MsoNormal">
	<br />
	&nbsp;<strong><span myriad="" style="font-size:10.0pt;
mso-bidi-font-family:">What is your assessment of the market demand for your software?</span> <br />
	</strong></p>
<p class="MsoNormal">
	<span myriad="" style="font-size:10.0pt;line-height:115%;mso-bidi-font-family:
">We see a huge yet-to-be-tapped market for BUSY in Nepal. Our software caters to almost every industry – retailers, traders, distributors, discreet manufacturers and corporate entities. However, most of the businesses here are either not using any software or are using out-dated software to manage their accounting and inventory needs. Therefore, we feel that we are in the right position to capture a big market share in the next two to five years.</span></p>
<p class="MsoNormal">
	<span myriad="" style="font-size:10.0pt;line-height:115%;mso-bidi-font-family:
">&nbsp;</span></p>
<p class="MsoNormal">
	<span myriad="" style="font-size:10.0pt;line-height:115%;mso-bidi-font-family:
">&nbsp;</span></p>
<p class="MsoNormal">
	<span myriad="" style="font-size:10.0pt;line-height:115%;mso-bidi-font-family:
">&nbsp;</span></p>
<p class="MsoNormal">
	<span mso-bidi-font-family:="" myriad="" style="font-size:24.0pt;mso-bidi-font-size:11.0pt;
line-height:115%;font-family:">‘We Help Nepali Counterparts to meet IT Product Needs’<br />
	<br />
	</span></p>
<p class="MsoNormal">
	<span mso-bidi-font-family:="" myriad="" style="font-size:24.0pt;mso-bidi-font-size:11.0pt;
line-height:115%;font-family:">&nbsp;<img alt="alexandar" border="1" height="385" hspace="10" src="http://www.newbusinessage.com/ckfinder/userfiles/Images/Alexander-Oddoz-Mazet.jpg" vspace="10" width="263" /><br />
	</span></p>
<p class="Pa1">
	<span class="A24"><span style="font-size:14.0pt">Alexander Oddoz-Mazet </span></span><span class="A24"><span style="font-size:14.0pt;
color:#221E1F">is the Director – Asia Pacific Region of Microsoft Operations Pte Ltd. </span></span></p>
<p class="MsoNormal">
	 </p>
<p class="MsoNormal">
	&nbsp;<span myriad="" style="font-size:11.5pt;line-height:115%;mso-bidi-font-family:
">Founded in 1975, Microsoft is the worldwide leader in software, services and solutions that help people and business realize their full potential. Through its regional office in Bangladesh, it has been marketing and promoting Microsoft products and solutions in territories of Bangladesh, Nepal and Bhutan. Microsoft has been present in Nepal since 2007. Oddoz-Mazet was in Kathmandu to attend a business event titled “Maximizing Business Productivity – Leveraging Microsoft Technologies”. In an interview with New Business Age, he talked about Microsoft’s business productivity solutions among other issue. Excerpts:</span></p>
<p class="MsoNormal">
	<strong><span myriad="" style="font-size:11.5pt;line-height:115%;mso-bidi-font-family:
">&nbsp;</span></strong></p>
<p class="Pa23" style="margin-top:5.0pt">
	<strong><span myriad="" style="font-size:10.0pt;
mso-bidi-font-family:">With business productivity being high on most organizations’ priority list, what does Microsoft offer in specific to the Nepal market?</span></strong></p>
<p>
	<span myriad="" style="font-size:10.0pt;
mso-bidi-font-family:">We are developing a new scenario that helps people to work together as a team and as an organization. Communication is one of the key scenarios so people need to do it more effectively while collaboration is also one of the scenarios that we need to work at more effectively. At Microsoft, we now have a few technological solutions that can help to achieve that. One of them is Unified Communications which is a way to reduce complexity by putting people at the centre of the communications experience. The goal is to integrate all of the ways we contact each other in a single environment using a single identity and presence. It provides businesses in Nepal with the power to choose how they provision services whether on their own premises, as cloud services, or in a hybrid fashion. </span></p>
<p class="Pa10" style="text-indent:14.0pt">
	<strong><span myriad="" style="font-size:10.0pt;
mso-bidi-font-family:"><br />
	How significant is Unified Communications from Microsoft’s perspective?</span></strong><span myriad="" style="font-size:10.0pt;mso-bidi-font-family:"><br />
	<br />
	It is very important indeed. With Unified Communications, we bring instant messaging, web, email, calendar, SMS etc together into one platform which makes it very easy for information technology (IT) divisions at organizations to manage a lot of things and make them very cost effective. It is a one-stop solution to everything. For themes, it has one-user interface that enables organizations to perform all types of communication. It has made it easy to drive a new way for all activities, to use different tools. With the Unified Solution powered by Microsoft, the users are free from the hassle of using different access, passwords and methods to use it. We provide a new communication solution not only to connect internally but also to the outside world.<br />
	<br />
	Please share the key capabilities of these solutions that you have mentioned in your presentation In not only Nepal, but also in countries around South East Asia like Korea, Thailand, Vietnam, Cambodia, we found that people create word document, PowerPoint presentations, picture, videos and store them in their personal computers (PCs). This is not a very effective option. If we want to work as a team and want to access those documents, it is not possible if they are stored in the individual PCs only. With SharePoint, you build an internet site within your company where only the employees of your company and trusted partners can have access to the information. SharePoint is one of the fastest growing products in business because people realise that they need to share the documents and work together as a team. Therefore, having the documents in a central location, which is easily searchable and accessible to people, can work effectively. We see the government officials and businesspersons using SharePoint to a large extent.<br />
	<br />
	Sometimes, it takes a while for a new technology to develop inside an organization. However, when the professionals inside an organization get along with the technology over time, they can adopt it to manage overall technology on their own. The fundamental capability of the software is to make people more productive. It makes a country more competitive in the world market. In Nepal, most of the talent goes outside the country in search of better opportunities. Our technology, adopted by organizations, can keep the intelligent people within the country which, in turn, helps the economy. There are lot of functionalities but at the core, Microsoft software is helping economies prosper and become more competitive at the world stage. With the integrated value of SharePoint, Link, Exchange, and Office into one platform, it makes the employees and teams to use the software more effectively.</span>&nbsp; <strong><span myriad="" style="font-size:10.0pt;
mso-bidi-font-family:"><br />
	</span></strong></p>
<p class="Pa10" style="text-indent:14.0pt">
	<strong><span myriad="" style="font-size:10.0pt;
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	What can companies do to understand Microsoft and business productivity solutions better?</span></strong><span myriad="" style="font-size:10.0pt;
mso-bidi-font-family:"><br />
	<br />
	One of the challenges we see is the people cannot properly understand what business productivity solutions can do for their business. In order to facilitate their understanding, we can show some works on PowerPoint presentation to them and also perform a demo if required. However, the best way to understand any product is to experience it. The analogy that I present many times to make my point is that you do not buy a car looking at its website. You take a decision by doing a test drive.</span><br />
	<br />
	<span myriad="" style="font-size:10.0pt;
mso-bidi-font-family:">Our partners have invested in a facility called “Customer Emersion Experience” in which we bring business people and IT professionals together. Once they enter our facility, we place laptops in front of them and make them test drive Microsoft Productivity business solutions for the next two-three hours. This is the best way to make people understand the value of our platform. We then drive a communication between the IT professionals and business people on ways to enable software in an organization and the value that the business can get. The other way is that we are talking with some of the companies to deploy our technology on a small scale, to begin with. However, the cost effective way is to utilize our “Customer Emersion Experience” scheme. </span></p>
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	What makes you believe you are better than the competition?</span></strong></p>
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	How can business houses in Nepal benefit from this technology?</span></strong></p>
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	<span myriad="" style="font-size:10.0pt;
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	<span style="font-size:16px;"><span style="line-height: 115%;"><img alt="remit" border="1" height="284" hspace="10" src="http://www.newbusinessage.com/ckfinder/userfiles/Images/remittance.jpg" vspace="10" width="449" /><br />
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	Income received as the Nepali workers’ remittances working abroad has become an automatic instrument for poverty reduction in Nepal. Remittance has been recognised as a key to solve various economic ills afflicting the country. Moreover, it has raised some obvious questions. For instance, long the national economy can solely depend on the source of remittance to sustain itself? Is it possible to use the remitted money to improve social livelihood of the Nepali people or, can it be used in more productive sector? Can our policymakers think beyond the box of remittance economy?</span></span></p>
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	<span style="font-size:16px;"><span style="line-height: 115%;">&nbsp;</span></span></p>
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	<span style="font-size:10.0pt;line-height:115%">55 New Business Age | September 2012</span></p>
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	<span style="font-size:10.0pt;line-height:115%">&nbsp;<br />
	<br />
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	</span></p>
<p class="MsoNormal">
	<span class="A8"><span myriad="" style="font-size:24.0pt;line-height:
115%;font-family:">COVER STORY</span></span></p>
<p class="Pa9" style="text-align:justify">
	<span class="A13"><span style="font-size:
59.0pt;color:windowtext">T</span></span><span myriad="" style="font-size:10.0pt;
mso-bidi-font-family:">he total households receiving remittances in Nepal stood at 55.8 per cent in the year 2010-11 as revealed by the findings of Nepal Living Standards Survey (NLSS)- III released by the Central Bureau of Statistics (CBS). This is a sharp rise from the year 2003-04 when only 31.9 per cent households in Nepal received remittances. Another remarkable statistic in the report was the 18 per cent decline in absolute poverty in the six years between 2003-04 and 2009- 10. According to the report, only 13 per cent Nepalis now remain below the absolute poverty line (the benchmark being 2,200-calorie intake per day per person). Nepal ranks sixth among the countries in terms of Remittances-to- GDP ratio as stated in the World Bank Report-2011. It rose from Rs 47.5 billion in 2001-02 to Rs 231.73 billion in 2009- 10. Remittances-to-GDP ratio almost doubled from 10.3 per cent in 2001-02 to 19.6 per cent in 2009-10. Economists estimate that this figure will rise to 20 per cent in 2012-2014. <br />
	</span></p>
<p class="Pa10" style="text-align:justify">
	<span myriad="" style="font-size:10.0pt;
mso-bidi-font-family:">It is estimated that approximately 2.2 million Nepalis are working as migrant workers in various countries. Nearly 90 per cent of migrant workers have found employment in Qatar, Malaysia, Saudi Arabia, the UAE, and Kuwait. Among them, 10 per cent of migrant labors are female. According to Bal Bahadur Tamang, the President of Foreign Employment Association of Nepal, the growing construction business in the Gulf countries has created a demand for large number of Nepali workers. “Qatar is hosting a showpiece World Cup Football tournament in 2022 and therefore, the amount of construction work happening there has increased the demand of Nepali workers substantially,” informed Tamang. <br />
	<br />
	Increasing remittance flow has emerged as a favored poverty alleviation strategy in developing countries, particularly in Nepal. Policymakers believe that the financial contribution from migrant workers has provided impetus to development activities. They also opine that the scope of such revenue should be further enhanced. Nara Bahadur Thapa, Chief Manager of Nepal Rastra Bank at Biratnagar said, “The robust relationship between the growth in remittance and the reduction in poverty has evolved on account of a significant growth in the number of rural poor people seeking jobs in the Gulf countries.” </span></p>
<p class="Pa10" style="text-align:justify">
	<span myriad="" style="font-size:10.0pt;
mso-bidi-font-family:">“Annually, Nepal is receiving Rs 200 billion as remittance,” shared Dr Ganesh Gurung, a Remittance Economist. Based on the data of the Department of Foreign Employment, 1,500 people leave the country for foreign employment every day on an average as of August 2011. Quite naturally, the country has also been receiving proportional amount of remittances from these migrant workers employed abroad. From mid-July to mid-August 2011, the number of Nepalis going abroad for jobs was 45,165. This heavy reliance on foreign employment has shifted the Nepali economy from an agriculture-based economy towards a remittance-based one. </span></p>
<p class="MsoNormal">
	<span myriad="" style="font-size:10.0pt;line-height:115%;mso-bidi-font-family:
">The NLSS, 2010-11 reported that the common Nepalis’ access to basic facilities has improved over the years. Despite political upheavals and unrest, the average household income of Nepalis has increased by more than four-fold to Rs 202,374 over the span of 15 years due to increased receipt of remittances. Thapa shared that the remittance thus received is widely spent on daily consumption, followed by loan repayment and household property instead of capital formation. A Nepal Rastra Bank (NRB) report says that 78.9 per cent of the remittance is used on daily consumption, whereas 7.1 per cent of the remittance is used to repay loans followed by 4.5 per cent on household property, 3.5 per cent on education and only a minimal 2.4 per cent is used for capital formation. According to Dr Gurung, the increased remittance per household has not only increased consumption pattern but changed the social structure too. The nominal per capita consumption expenditure in aggregate increased from Rs 15,848 in 2003-04 to Rs 34,829 in 2010, at an annual average growth rate of 14 per cent. The survey also identified urban hills (9 per cent) and Kathmandu (11 per cent) having the least poor population while the highest population identified as poor live in the mountains (42 per cent) and rural hills in the Mid and Far-West regions (37 per cent).</span></p>
<p class="MsoNormal">
	<span myriad="" style="font-size:10.0pt;line-height:115%;mso-bidi-font-family:
">According to Tamang, a significant chunk of the money received via remittance is being spent on imports and real estate instead of it being invested in productive sectors. The main challenge does not lie in receiving remittance but in channelizing it into productive use. Therefore, remittance should be included in the national development agenda to monitor its use. Though the government has given permission to manpower agencies to open foreign currency account in Nepali commercial banks, the government’s responsibility does not end here. Apart from monitoring and facilitating the use of this income, the government should encourage migrants to hold their income in financial assets within the country rather than abroad.</span></p>
<p class="MsoNormal">
	<span myriad="" style="font-size:10.0pt;line-height:115%;mso-bidi-font-family:
">“Income received from remittance source has become an automatic instrument for poverty reduction in Nepal as both the government and the private sector have failed to create adequate number of jobs,” said Thapa. If we compare the domestic savings-to- GDP ratio, which is currently around 10 per cent, and national savings-to- GDP ratio standing at 36.7 per cent, the difference is largely due to remittance. Against the national savings-to-GDP ratio at 36.7 per cent, the total fixed investment-to-GDP ratio is 19.6 per cent, reflecting the failure of Nepali society to make productive use of remittance driven national savings. As of mid-June 2012, foreign exchange stood at Rs 427 billion, sufficient <span style="mso-spacerun:yes">&nbsp;</span>nough to <span style="mso-spacerun:yes">&nbsp;</span>cover merchandise and services import of around 10 months. This reflects two things. First, remittance is an important source of foreign exchange earnings, underpinning macroeconomic stability of Nepal. <br />
	</span></p>
<p class="MsoNormal">
	<span myriad="" style="font-size:10.0pt;line-height:115%;mso-bidi-font-family:
">Second, the magnitude of foreign exchange indicates that both the government and the private sector have failed to make productive use of foreign exchange accumulated from remittance. Gurung opines that there is no question of utilising remittance for income generating activities for families living below the poverty line. In their case, remittance will take care of consumption. However, the families managing to save out of remittance can be encouraged to invest in income generating activities that could be an issue of micro management of remittance. Similarly, families engaged in agricultural activities and receiving remittance in excess of their consumption requirements should be encouraged to invest in high yielding crops and animal husbandry. This will help boost the agricultural production and consequently, their incomes. <br />
	</span></p>
<p class="MsoNormal">
	<span myriad="" style="font-size:10.0pt;line-height:115%;mso-bidi-font-family:
">On the other hand, families residing in urban and semi-urban areas should be encouraged to invest in small services such as tailoring, taxi driving and undertaking petty businesses. For this to happen, the government can help establish multipurpose urban cooperatives. Lila Prasad Sitaula, Executive Director at Foreign Exchange Management Department of Nepal Rastra Bank, said, “The government, together with the NRB has introduced few important policies to utilize remittance productively. One of those is the issuance of remittance bond targeting migrant workers. Along with it, the NRB is formulating a policy to encourage banks and financial institutions for opening up branches in the rural areas, thus, bringing money in the banking system and channelize it in the productive sector. Furthermore, some provisions have been made to allow remittance companies to manage their forex balance in a more profitable manner, added Sitaula.</span></p>
<p class="MsoNormal">
	<span myriad="" style="font-size:10.0pt;line-height:115%;mso-bidi-font-family:
">The government also started issuing foreign employment bond for mobilizing funds and making productive use of remittance since 2009-10 but so far, it has failed to gain popularity among the Nepali migrant workers abroad. According to Chandra Dhakal, Chairman of Nepal Remitters’ Association, remittance is the major factor in improving Nepal’s position in Human Development Index and improving poverty level. Remittance has played a major role in improving livelihood of millions of Nepalis. It has helped people have better access to health, education and sanitation. Dhakal added that the time has come to think about the productive investment of remittance for economic development of the country because capital has been a major constraint. <br style="mso-special-character:line-break" />
	<br style="mso-special-character:line-break" />
	</span></p>
<p class="MsoNormal">
	<span myriad="" style="font-size:10.0pt;line-height:115%;mso-bidi-font-family:
">&nbsp;The Monetary Policy of 2012-13 has encouraged and facilitated those companies wishing to establish remittance business in various regions and countries. “We have realized the need for further expanding money transfer agencies to the countries where the supply of remitting service is few or not in existence,” shared Sitaula. Additionally, necessary bylaws have been introduced governing money transfer business activities. The government should prepare proper plans and policies in order to encourage the migrant workers to use formal channels instead of using illegal channels like ‘hundi’. Besides, the government should support the recruitment agencies in receiving recruitment charges, visa charges etc through proper banking channels which should automatically reduce the use of illegal banking channels.</span><span myriad="" style="font-size:10.0pt;mso-bidi-font-family:"><br />
	<br />
	International Money Express (IME) was the first Nepali financial institution starting its services to control the flow of remittance through banking channel twelve years ago. And since the last few years, commercial banks through their representatives and agents have also been involving in money remitting business. As per a recent report of central bank, the total remittance for the first 11 month of FY 2011-12 stood at Rs 320.38 billion showing a growth of 39.6 per cent compared to a growth of 10.1 per cent during the corresponding period of the previous year. Dhakal said, “Though we don’t have any data related to remittance coming through remittance companies, we can estimate that more than 70 per cent of it is channeled through remittance companies.” According to him, remittance companies are doing their best in increasing their network and enhancing their service to bring more remittances through formal channels. The central bank and the government should cooperate and facilitate remittance companies in this noble endeavor, he said.</span> <span myriad="" style="font-size:10.0pt;mso-bidi-font-family:"><br />
	<br />
	“Commercial banks are coming into this business and making it more competitive, however, there is a huge misunderstanding in the scope of work for remittance companies and commercial,” said Dhakal. The present policies have been formulated on the assumption that remittance companies will bring the foreign currency and sell it to commercial banks so that both will be benefited. It is an irony that remittance companies are compelled to sell foreign currency to commercial banks, with whom they are competing at source. Since there is huge disparity in facilities available to remittance companies and commercial banks in terms of foreign currency, the central bank needs to review its policy to ensure sustainability of remittance companies, which are playing an instrumental role in Nepal’s inward remittance. On the other hand, the comfortable reserve position in the country leads to sufficient liquidity in the banking system that is being channelized into productive sectors. Moreover, the increase of foreign exchange reserves allows moving towards gradual liberalization of foreign exchange market.</span></p>
<p class="MsoNormal">
	<span myriad="" style="font-size:10.0pt;
mso-bidi-font-family:">“Preserving the value of foreign exchange is the main concern of the NRB,” said Sitaula. According to him, the central bank has been managing its foreign currency assets keeping it in major international currencies and different asset portfolios in accordance with the principle of portfolio diversification and minimizing currency risk. “A chunk of reserves is invested in highly liquid securities especially sovereign bonds and rest is placed with foreign central banks, BIS and different highly rated foreign commercial banks based on the ratings of international rating agencies such as Standard &amp; Poor’s and Moody’s,” shared Sitaula. While safety and liquidity constitute the main objectives of reserve management in Nepal, return optimization becomes an embedded strategy within this framework, he added.</span></p>
<p class="MsoNormal">
	<span myriad="" style="font-size:10.0pt;
mso-bidi-font-family:">Remittance increases foreign currency availability in the domestic market and raises national savings. Availability of foreign currency, in turn, facilitates financing of essential import and can avert possible balance of payments (BoP) crisis. Despite the rising trade deficit, Nepal witnessed a record current account as well as BoP surplus in the last year because of substantial flow of remittances. Had remittance flows stagnated last year, Nepal would have witnessed deficit in the current account and lesser BoP surplus, said Sitaula. Remittances alone can finance about 90 percent of merchandise trade deficit of the country.</span></p>
<p class="MsoNormal">
	<span myriad="" style="font-size:10.0pt;
mso-bidi-font-family:">These facts reveal a crucial role remittances play in attaining macroeconomic stability in the country. Though increasing remittance has its own advantages, it is also true that over dependency on it in the end will eventually lead to economic failure if the flow of remittance is disrupted. “Of course, nothing would be better than bringing development projects with sufficient funding to utilize the labor force in Nepal itself. For this, the long-term focus ought to be the development of entrepreneurial capabilities of the Nepalis so that remittances could be turned into productive investment that brings higher growth and employment generation,” said Gurung.</span></p>
<p class="MsoNormal">
	<span myriad="" style="font-size:10.0pt;line-height:115%;mso-bidi-font-family:
">However, having said that, remittance has been the only hope in recent times to rescue the faltering economy from the low-level equilibrium trap when the implementation of capital expenditure programme is likely to go on a wild goose chase. Remittance has been imperative for survival, poverty reduction, and eliminating impoverished condition of life in the country. At the same time, the government has to resolve these problems, as remittance is one of the growing and most crucial sectors of the economy.</span></p>
<p class="MsoNormal">
	<span myriad="" style="font-size:10.0pt;line-height:115%;mso-bidi-font-family:
">&nbsp;</span></p>
<p class="MsoNormal">
	<span myriad="" style="font-size:10.0pt;line-height:115%;mso-bidi-font-family:
">&nbsp;</span></p>
<p class="Pa1">
	<span class="A8"><span style="font-size:24.0pt;color:windowtext">COVER STORY</span></span></p>
<p class="MsoNormal">
	<span myriad="" style="font-size:10.0pt;line-height:115%;mso-bidi-font-family:
">&nbsp;</span></p>
<p class="MsoNormal">
	<span class="A49"><span myriad="" style="font-size:23.0pt;line-height:
115%;font-family:">‘Remittances can have Long-term Impact if Channeled into Productive Investment’<br />
	<br />
	<br />
	<img alt="ganesh gurung" border="1" height="313" hspace="5" src="http://www.newbusinessage.com/ckfinder/userfiles/Images/ganesh-gurung.jpg" vspace="5" width="300" /><br />
	</span></span></p>
<p class="Pa1">
	<span style="font-size:16px;"><span class="A5"><span style="color: windowtext;">DR GANESH GURUNG </span></span></span></p>
<p class="MsoNormal">
	<span style="font-size:16px;"><span class="A5"><span color:="" style="line-height: 115%; font-family: ">&nbsp;Remittance Economist</span></span></span></p>
<p class="MsoNormal">
	<strong><span style="font-size:16px;"><strong>&nbsp;</strong><br />
	&nbsp;</span></strong></p>
<p class="Pa23" style="margin-top:5.0pt;text-align:justify">
	<strong><span myriad="" style="font-size:10.0pt;mso-bidi-font-family:">How do you view the contribution of remittance to the reduction of poverty in Nepal?</span></strong></p>
<p class="Pa10" style="text-align:justify">
	<span myriad="" style="font-size:10.0pt;
mso-bidi-font-family:">This, in fact, is an interesting aspect. The post conflict political situation has not witnessed major economic growth and hence unemployment and underemployment is an ever growing phenomenon. The political unrest decelerated the pace of industrial expansion and halted plenty of small and medium enterprises all over the country creating unemployment throughout the country. In that situation, a huge number of migrant workers amplified the number because of which, foreign employment became an emerging business in Nepal’s context. </span></p>
<p class="Pa10" style="text-align:justify">
	<span myriad="" style="font-size:10.0pt;
mso-bidi-font-family:">In my opinion, remittance has played a vital role in poverty reduction. Various reports and planning documents published in recent times have attributed the dramatic fall in absolute poverty to the inflow of remittances in Nepal. The percentage of all households receiving remittances in Nepal during the year 2010/11 was 55.8 per cent. This is a sharp rise from the year 2003/04 when it stood at 31.9 per cent. There has been an 18 per cent decline in absolute poverty in the six years between 2003/04 and 2009/10. Therefore, according to me, foreign employment is a major economic phenomenon in Nepal and its relation to the economic growth of the country is integral. </span></p>
<p class="MsoNormal">
	 </p>
<p class="Pa23" style="margin-top:5.0pt;text-align:justify">
	<strong><span myriad="" style="font-size:10.0pt;mso-bidi-font-family:">What is the trend of use of remittance in Nepal in general households? What is the ratio of its use in productive and unproductive sectors? How do you analyze such trends? </span></strong></p>
<p class="Pa10" style="text-align:justify;text-indent:14.0pt">
	<span myriad="" style="font-size:10.0pt;mso-bidi-font-family:">I believe that there are also some long-term opportunities brought about by foreign employment. Children of the foreign employment workers are getting quality education paid for by the remittances from their parents. The nation can benefit in the long term out of this trend as skilled and educated manpower is produced for the economy.<br />
	<br />
	The remittance sent by the migrant workers can be used to further generate wealth in the country. Besides spending on consumption, it has to be invested in productive sectors, which would bring about some positive change on the major macroeconomic variables of the country. Remittances can produce long term impact only if it is channeled into productive investment. Going by the current trends of consumption in Nepal, if the remittances are soaked up by consumption only and are not turned into investments, the short term boost provided by it in the economy will not be sustainable. Productivity will decline and the economic choices get tougher if the situation is not addressed in time and is stalled being shortly content with the remittance-based income. More remittance money is spent on consumption than in any other aspects. Only 2.4 per cent of remittance money is spent for capital formation in our country.</span> <span myriad="" style="font-size:10.0pt;mso-bidi-font-family:"><br />
	<br />
	Due to increase in revenues from remittances, the currency of a country becomes stronger compared to that of other nations resulting in exports becoming more expensive for other countries to buy. This can make the manufacturing sector less competitive. Thus, with the increase in the purchasing capacity of households receiving remittance, there is high demand of consumption and imported goods. There has been an appreciation of real exchange rate due to rise in the price of non-tradable with respect to tradable. Furthermore, there has been an erosion of manufacturing sector entailing to their reduced competitiveness. </span></p>
<p class="MsoNormal">
	 </p>
<p class="MsoNormal">
	 </p>
<p class="MsoNormal">
	<strong><span myriad="" style="font-size:10.0pt;mso-bidi-font-family:">How do you compare the remittance figures between today and five years ago?</span></strong></p>
<p class="Pa10" style="text-align:justify;text-indent:14.0pt">
	<span myriad="" style="font-size:10.0pt;mso-bidi-font-family:">Despite the huge contribution of remittance to GDP, Nepal’s economic growth rate has never exceeded 4 per cent except in 2005 although the indication is that remittance will go up in the years to come. A remittance share of 20 per cent of the total GDP should have created enough employment opportunities, but the unemployment rate still stands at 42 per cent. Furthermore, there appears to be an inversely proportional relationship between employment abroad and industrial growth. For instance, industrial production growth rate was only 1.8 per cent in 2011 whereas from 2002 to 2005, the growth rate was 8.7 per cent when remittance inflow was far less. In this ratio, the remittance pattern is in the increasing trend if we compare the figures of 2010/11 and 2004/05. However, the challenge is to channelize the remittance in productive sector. </span></p>
<p class="MsoNormal">
	 </p>
<p class="MsoNormal">
	<strong>&nbsp;</strong></p>
<p class="Pa23" style="margin-top:5.0pt;text-align:justify">
	<strong><span myriad="" style="font-size:10.0pt;mso-bidi-font-family:">What is the contribution of remittance in GDP? </span></strong></p>
<p class="Pa23" style="margin-top:5.0pt;text-align:justify">
	 </p>
<p class="Pa10" style="text-align:justify">
	&nbsp;<span myriad="" style="font-size:10.0pt;
mso-bidi-font-family:">It is estimated that the number of Nepali migrant workers is officially 1.4 million and the number of undocumented migrant workers is estimated to be the same. Annually, Nepal is receiving Rs 200 billion as remittance and its contribution to GDP is about 20 per cent. According to World Bank report - 2011, Nepal ranks sixth among countries in whose GDP remittance holds a very high share. It rose from Rs 47.5 billion in 2001/02 to Rs 231.73 billion in 2009/10. Remittance-to-GDP ratio almost doubled from 10.3 per cent in 2001/02 to 19.6 per cent in 2009/10. Therefore, we can say that there has been a positive impact of remittance in GDP. </span></p>
<p class="MsoNormal">
	 </p>
<p class="Pa23" style="margin-top:5.0pt;text-align:justify">
	<strong><span myriad="" style="font-size:10.0pt;mso-bidi-font-family:">How successful has the state become to utilize the remittance income in the development activities? </span></strong></p>
<p class="Pa10" style="text-align:justify">
	<strong>&nbsp;</strong><span myriad="" style="font-size:10.0pt;
mso-bidi-font-family:">It is rather disappointing that the state has not been able to utilize the remittance to the optimal level. Very less has been done in this aspect. With a huge number of migrant workers working across the globe, remittances are emerging as a new way for alleviating poverty in the developing and least developed countries. </span></p>
<p class="Pa10" style="text-align:justify">
	&nbsp;<span myriad="" style="font-size:10.0pt;
mso-bidi-font-family:">Due to unhealthy investment environment in the home country, remittance money has not been used productively which has made Nepal a consumption oriented economy rather than an investment oriented one. This has slowed the pace of development activities in the country. Presently, 78.9 per cent of remittance money is used for daily consumption while only 2.4 per cent is being used in the productive sector. So, the government should create an investment friendly environment in order to use the remittance money in the productive sector. </span></p>
<p class="Pa10" style="text-align:justify">
	&nbsp;<span myriad="" style="font-size:10.0pt;
mso-bidi-font-family:">In my opinion, the migrant workers should be trained and well informed about what they can do with the money they earn at destination countries. The recruiting agencies should take them in confidence that even after they return to their country, they could have a secure future. Different plans and policies have to be made to create investment friendly environment for these workers. In addition, proper investment environment in the home country acts as a backup in case of emergencies oversees and even during financial crisis. Similarly, the government should introduce measures to encourage savings among migrant workers and their remittance recipient families. </span></p>
<p class="MsoNormal">
	 </p>
<p class="Pa23" style="margin-top:5.0pt;text-align:justify">
	<strong><span myriad="" style="font-size:10.0pt;mso-bidi-font-family:">What is your vision to utilize the expertise of the private sector as well as the state to utilize the earning from remittance? </span></strong></p>
<p class="Pa10" style="text-align:justify;text-indent:14.0pt">
	<strong>&nbsp;</strong><span myriad="" style="font-size:10.0pt;mso-bidi-font-family:">Private sector has a great role to play here. They are the ones who should be making attractive and feasible business ventures that are appropriate for migrants. Migrant workers do not know about the viable projects where their money can be invested. Therefore, in collaboration with these migrant workers, the private sector should establish business ventures that are not only viable but also fulfill the need of the country. Thus, both will have a win-win situation.<br />
	<br />
	People recruited for foreign must be provided several types of training that can enhance their productivity to get better jobs. Proper trainings should be provided to these workers to gain required skills in the destination country. Another major area where private companies are key players is the remittance receiving procedures. There are dozens of private money transfer companies that are providing the service and transferring money through legal and formal channels. The spread of such private services to even the rural areas of the country suggests increasing demand for their services and profitability potential. </span></p>
<p class="MsoNormal">
	&nbsp; <br />
	 </p>
<p class="Pa23" style="margin-top:5.0pt;text-align:justify">
	<strong><span myriad="" style="font-size:10.0pt;mso-bidi-font-family:">What is the situation of Labor Desk and Welfare Fund in the present situation? Is there enough transparency? <br />
	<br />
	</span></strong></p>
<p class="Pa10" style="text-align:justify;text-indent:14.0pt">
	<span myriad="" style="font-size:10.0pt;mso-bidi-font-family:">The Labor Desk has acted more as an extended bureaucracy on the part of the government. The Welfare Fund has collected Rs one billion as of September 2011. However, no significant work has been accomplished to properly utilize this amount. There is less transparency regarding the fund collected thus far. In my opinion, the fund should be utilized to provide trainings, skill-enhancing workshops, and information required for foreign employment. This way, the migrant workers will be well equipped with required skills and well informed about the destination country. This will automatically minimize the risk of the labors being cheated or discriminated at the host nation. </span></p>
<p class="MsoNormal">
	<strong>&nbsp;</strong></p>
<p class="MsoNormal">
	<strong><span myriad="" style="font-size:10.0pt;mso-bidi-font-family:">What is the contribution of remittance in Balance of Payments?</span>&nbsp; <br />
	</strong></p>
<p class="MsoNormal">
	<span myriad="" style="font-size:10.0pt;
mso-bidi-font-family:">Nepal was compelled to borrow $42.5 million from the International Monetary Fund under its rapid credit facility to address BoP deficit one-and-a-half years ago. However, the acceleration in the growth of remittance along with the improvement in the service account has helped maintain a comfortable balance of payments (BoP) situation. After remaining in deficit for two years, the country’s BoP turned surplus in the second last month of the last fiscal year and has continued to grow since. In the same period last year, the BoP had recorded a deficit of Rs 5.72 billion.</span></p>
<p class="MsoNormal">
	<strong>&nbsp;</strong></p>
<p class="MsoNormal">
	<strong><strong>&nbsp;</strong></strong></p>
<p class="Pa23" style="margin-top:5.0pt;text-align:justify">
	<strong><span myriad="" style="font-size:10.0pt;mso-bidi-font-family:">An initiative of the government-foreign employment bond has said to have failed miserably. How can such initiatives be made successful?</span></strong></p>
<p class="MsoNormal">
	<span myriad="" style="font-size:10.0pt;
mso-bidi-font-family:">In my opinion, it is necessary to create a mechanism that provides incentives to the stakeholders so that they are keen to sell on the one hand and on the other, interest rate and other facilities given are not attractive for the migrant workers. Thus, the government should make the bond an attractive package and provide them some more incentive so that it is comparatively profitable for them to buy.</span></p>
<p class="MsoNormal">
	<span myriad="" style="font-size:10.0pt;
mso-bidi-font-family:">Foreign employment bond is one of the key instruments that the government has adopted to raise internal loans. However, lack of awareness and complicated procedures are responsible for the low subscription. The first foreign employment bond, issued in fiscal year 2009-10 had seen subscription worth Rs 4.6 million of the total issue of Rs one billion at 9.5 per cent interest. Likewise, last year too, bonds worth only Rs four million of the total issue worth Rs five billion were sold.</span></p>
<p class="MsoNormal">
	<span myriad="" style="font-size:10.0pt;line-height:115%;mso-bidi-font-family:
">The repetitive failure of the bond to attract enough investment from the migrant worker community has been attributed to the absence of proper marketing channels. The failure of the last two batches had got NRB to look into diverse markets allowing even Non Resident Nepalis (NRN) and returnee migrant workers to purchase the bond instead of only focusing on migrant workers in the Gulf countries and Malaysia. The layman is missing out on booking good returns by investing in bonds due to lack of awareness about investing in government securities.</span></p>
<p class="MsoNormal">
	<span myriad="" style="font-size:10.0pt;line-height:115%;mso-bidi-font-family:
">&nbsp;</span></p>
<p class="Pa1">
	<span class="A8"><span style="font-size:24.0pt;color:windowtext">COVER STORY</span></span></p>
<p class="Pa1">
	<span class="A8"><span style="font-size:24.0pt;color:windowtext"><span style="mso-spacerun:yes">&nbsp;<br />
	<img alt="bala bahadur tamang" border="1" height="293" hspace="10" src="http://www.newbusinessage.com/ckfinder/userfiles/Images/BAL-BAHADUR-TAMANG.jpg" vspace="10" width="300" /></span></span></span></p>
<p class="MsoNormal">
	<span style="font-size:18px;"><span class="A5"><span color:="" style="line-height: 115%; font-family: ">BAL BAHADUR TAMANG <br />
	President <br />
	Foreign Employment Association</span></span></span></p>
<p class="MsoNormal">
	<span style="font-size:18px;"><span class="A5"><span style="line-height: 115%; font-family: ">&nbsp;</span></span></span></p>
<p class="MsoNormal">
	<span class="A5"><span myriad="" style="font-size:10.0pt;line-height:
115%;font-family:">&nbsp;</span></span></p>
<p class="MsoNormal">
	<strong><span class="A5"><span myriad="" style="font-size:10.0pt;line-height:
115%;font-family:">&nbsp;</span></span></strong></p>
<p class="Pa23" style="margin-top:5.0pt;text-align:justify">
	<strong><span myriad="" style="font-size:10.0pt;mso-bidi-font-family:">Which are the countries currently demanding Nepali labors on a big scale? What kind of wages do these migrant workers earn abroad? </span></strong></p>
<p class="MsoNormal">
	<strong>&nbsp;</strong><span myriad="" style="font-size:10.0pt;mso-bidi-font-family:">Most of the world’s estimated 150 million migrants are people searching for improved economic opportunities abroad. Nepal has not been able to escape this phenomenon either. Economic migration to the Middle East from countries in South Asia and other parts of the world was spurred-on by the oil boom in the early 1970s. The reasons behind the migration to the Gulf countries are almost same in Nepal as other parts of the world. Foreign labor migration has developed in such a way over the decades that it has shifted Nepal’s agricultural-based economy towards a remittance based one.</span></p>
<p class="MsoNormal">
	<span myriad="" style="font-size:10.0pt;mso-bidi-font-family:">Nepalis labors are demanded mostly in countries like Malaysia, Dubai, Saudi Arabia and Qatar. Most of the Nepali labors ranging from unskilled, semi-skilled and skilled are equally opting to receive foreign employment to these countries. The minimal wage rate for unskilled labor is 800, semi-skilled is 1,000 and for skilled labor is 1,200 Saudi Riyal. Apart from it, some European countries are also demanding skilled Nepali labors. However, the Middle East nations stand above in this aspect.</span></p>
<p class="MsoNormal">
	<strong>&nbsp;</strong></p>
<p class="Pa23" style="margin-top:5.0pt;text-align:justify">
	<strong><span myriad="" style="font-size:10.0pt;mso-bidi-font-family:">Why is it that the Nepali manpower agencies have not been able to send skilled manpower to the developed countries? How can this problem be resolved? </span></strong></p>
<p class="MsoNormal">
	<strong>&nbsp;</strong><span myriad="" style="font-size:10.0pt;
mso-bidi-font-family:">There is a demand of skilled workers in the international labor market. However, there is a vast difference while comparing the educational and technical standards of Nepali labors with those of the other countries. It is believed that Nepali workers are accepted in East and South Asia as well as the Gulf countries only because they come cheap and do whatever job is given to them. They lack required technical skills which makes it difficult for them to get visas for recruitment in the developed nations.</span></p>
<p class="MsoNormal">
	<span myriad="" style="font-size:10.0pt;
mso-bidi-font-family:">I strongly believe that the government should improve the curriculum in schools so that it can provide more practice-based knowledge. Apart from it, the government should also conduct consultation meetings with the experts, occupational groups, trade unions and foreign employment enterprises to make rules and regulations for the promotion and management of foreign employment occupation.</span></p>
<p class="MsoNormal">
	 </p>
<p class="MsoNormal">
	<strong><span myriad="" style="font-size:10.0pt;mso-bidi-font-family:">How do you view the conduct of manpower agencies operating in Nepal? What are the measures that your association is initiating to give this industry more credibility?&nbsp;&nbsp; </span></strong><br />
	<br />
	<span myriad="" style="font-size:10.0pt;
mso-bidi-font-family:">The main objective of the association is to monitor the manpower agencies providing foreign employment services, for their efficacy and transparency. We are working to make foreign employment business safe, well managed and decent as well as protect the rights and interests of the foreign bound workers and foreign employment entrepreneurs. There are many incidences of fake employment contracts, visas and forged documents etc. The result is that many Nepalis become stranded in foreign countries or are deported from these destinations where they go for work.</span></p>
<p class="MsoNormal">
	<span myriad="" style="font-size:10.0pt;line-height:115%;mso-bidi-font-family:
">A large number of unlicensed agencies exist in the manpower market in Nepal today. Estimates suggest that more than 200 unlicensed agencies are clandestinely involved in this business and bypass all official channels. For example, there are some manpower agencies charging more than Rs 2-3 lakhs per person for a position of manual labor in the Gulf countries or Malaysia. However, the actual cost should be much less. The association is closely monitoring the manpower agencies to make them follow the code and conduct of FEA. <br />
	</span></p>
<p class="MsoNormal">
	<span myriad="" style="font-size:10.0pt;mso-bidi-font-family:">A high-level advisory committee with the participation of the Ministries of Labor and Finance, the National Planning Commission and foreign employment organizations should jointly work, in order to expand foreign employment opportunities and increment the reliability of agents. The association is preparing a draft of proposal concerning the trainings that is to be provided to the workers seeking foreign employment opportunities in the days ahead.</span></p>
<p class="MsoNormal">
	<strong><span myriad="" style="font-size:10.0pt;mso-bidi-font-family:">How can ‘Hundi’ transaction be controlled? Why have manpower agencies not been able to encourage the migrant workers to use formal channels for remittance flow?</span></strong></p>
<p class="MsoNormal">
	<span myriad="" style="font-size:10.0pt;mso-bidi-font-family:">Remittance is one of the important sources of income. The contribution of remittance on Gross National Product is 23.6 per cent. In some cases, it seems that the process of remittance is lengthy and costly. The government should prepare proper plans and policies in order to encourage the migrant workers to use formal channels for remittance purpose. It should provide orientation classes and distribute booklets mentioning the disadvantages of using illegal banking channels like hundi, for instance. The government should also support the recruitment agencies in receiving recruitment charges, visa charges etc through proper banking channels and thereby automatically reduce the use of illegal banking channels. Currently, about 25 per cent of remittance flow is being carried out through hundi. The only way we can control hundi transactions is through easy banking access and close monitoring.</span></p>
<p class="MsoNormal">
	 </p>
<p class="MsoNormal">
	<strong><span myriad="" style="font-size:10.0pt;mso-bidi-font-family:">What is your suggestion to direct the inflow of remittance exclusively from banking channels?</span></strong></p>
<p class="MsoNormal">
	<span myriad="" style="font-size:10.0pt;mso-bidi-font-family:">We have to make the migrant workers understand that huge amounts can be invested in micro, technological and small and medium enterprises. This not only generates employment opportunities, but also stimulates demand for goods and services leading to increment in household income and acquisition of real estate. We can do this by providing trainings to migrant workers before they leave for their destination countries. We have to make them realize that their money would be invested in securing their future and they would have a stake in government projects. It will definitely encourage them to use the formal channels of remittance flow. Apart from it, the easy mechanism for remittance flow through banking channel has to be set up accordingly. Only then, the migrant workers would be encouraged to use the banking channel to send their money to Nepal.</span><br />
	<br />
	 </p>
<p class="MsoNormal">
	<strong><span myriad="" style="font-size:10.0pt;mso-bidi-font-family:">How do you think the families back in Nepal are utilizing the money received from migrant workers?</span> <br />
	</strong></p>
<p class="Pa10" style="text-align:justify">
	<span myriad="" style="font-size:10.0pt;
mso-bidi-font-family:">Instead of the money going to productive sectors, a significant chunk of the remittance is being spent on imports and real estate. Households that owned houses have decreased while those renting houses have increased. The houses of migrant workers have been modernized replacing thatched roof with steel roofs. Access to power has substantially increased too so are the households with safe drinking water, toilets and LPG for cooking. Consumption expenditure on food, housing, and education has increased resulting in a rise in the living standard. However, less money has been invested for capital formation at the macroeconomic level. </span></p>
<p class="MsoNormal">
	 </p>
<p class="MsoNormal">
	<strong>&nbsp;<span myriad="" style="font-size:10.0pt;mso-bidi-font-family:">It is said that the Foreign Employment Bond issued by the government has failed due to the uncooperative behaviors of manpower agencies. What is your take on it? What is your suggestion to best utilize the remittances sent by the migrant workers?</span><br />
	</strong></p>
<p class="MsoNormal">
	<span myriad="" style="font-size:10.0pt;
mso-bidi-font-family:">It is very unfair to say that manpower agencies have shown uncooperative behavior regarding the Foreign Employment Bond. Actually, there has not been enough publicity of the bond to the migrant workers. Besides, the migrant workers do not have much purchasing power as they have many financial obligations that need to be fulfilled with limited income.</span></p>
<p class="MsoNormal">
	<span myriad="" style="font-size:10.0pt;
mso-bidi-font-family:">As of now, remittance is being used in unproductive areas like building houses and other unnecessary products. It would be much better if remittance could be used in productive sector like education, hydro power etc.</span></p>
<p class="MsoNormal">
	<strong>&nbsp;</strong></p>
<p class="Pa23" style="margin-top:5.0pt;text-align:justify">
	<strong>&nbsp;<span myriad="" style="font-size:10.0pt;mso-bidi-font-family:">The welfare fund has collected around Rs one billion as of September 2011 but it has not been utilized or any productive work. What are the necessary steps that can be taken to properly utilize this amount?</span></strong></p>
<p class="MsoNormal">
	<span myriad="" style="font-size:10.0pt;
mso-bidi-font-family:">According to the Foreign Employment Act 2064 BS, the Foreign Employment Promotion Board is expected to use the amount collected under the Welfare Fund, in conducting foreign employment awareness programs in 72 districts. I, being a member of the said board, raise these issues to the government to address the problems faced by the migrant workers.</span></p>
<p class="Pa10" style="text-align:justify">
	<span myriad="" style="font-size:10.0pt;
mso-bidi-font-family:">In my opinion, the board has to provide loans with minimum interest to those working abroad. If their families who are in Nepal get loans, there is a good chance that they will invest such amount in the p</span></p>',
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<p class="MsoNormal">
	<span class="A13"><span style="font-size:
59.0pt">T</span></span><span style="mso-tab-count:1">he Government of Nepal has declared 2012 as the Investment Year. It was apparently meant to attract international investment, or foreign direct investment (FDI) into Nepal. But as the year closes to its end, there still is not any case of significant FDI entering this country. Worse still, a number of companies with such investment have already pulled their shutters down, or, planning to do so. The recent example is the closure of Kathmandu franchisee outlets of the global food chain KFC and Pizza Hut. And, as of penning these lines, there was no convincing sign of them opening soon. Even if they did, the damage done by the reason of its closure – overtly politicized labour highhandedness – is sure to be a detracting factor for the potential investors. Moreover, this is the second such case after Surya Nepal closed its readymade garments’ unit some six months ago, also due to industrial disputes.&nbsp;&nbsp; <br />
	<br />
	</span><span style="mso-tab-count:1"><span class="A13"><span style="font-size:
59.0pt"><img alt="fromtheditor" border="1" height="212" hspace="5" src="http://www.newbusinessage.com/ckfinder/userfiles/Images/investment(1).jpg" vspace="5" width="330" /></span></span>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </span></p>
<p class="MsoNormal">
	<span myriad="" style="font-size:10.0pt;mso-bidi-font-family:">Only political formalities like announcing an Investment Year by the government would never be enough to materially attract the investment. On the contrary if the ‘pull factors’ are adequate, such an investment would automatically flood in even without such announcements. Therefore, Nepal as the nation-state should first check whether such pull factors exist at all, at present.</span></p>
<p class="MsoNormal">
	<span myriad="" style="font-size:10.0pt;mso-bidi-font-family:">As the fact of the matter, they don’t exist at all. The prolonged political uncertainty, as claimed by all and sundry, is not only the distraction; the radical Reds at the helms of state affairs with the ‘Maoist’ tag is even larger scary factor. The ruling party here might furnish innumerable arguments to establish how investment-friendly they are prepared to be. But why would a potential investor take pain of subscribing these sugar-quoted arguments instead of reading the writing on the wall–THE MAOISTS; whatever it means?</span></p>
<p class="MsoNormal">
	<span myriad="" style="font-size:10.0pt;
mso-bidi-font-family:">The trade union leaders at the Pizza Hut, after its closure came-up with a lame-duck statement to prove their innocence claiming that they were just forming a unit there and were not planning even to ‘immediately’ strike. That may or may not be true. But why would any investor even take the risk of running the trade under the perennial duress in over-unionized set-up?</span></p>
<p class="MsoNormal">
	<span myriad="" style="font-size:10.0pt;
mso-bidi-font-family:">There are many instances that the industrial disputes are not limited to securing the trade union rights of any company concerned, but in fact the means to achieve political objectives of the mother Party one is affiliated to. It’s been years that collective bargaining processes enshrined in the labour laws of the country are grossly dishonoured. Sheer force and political protection to union activities has been the cardinal modus operandi in extracting benefits from the employers.</span></p>
<p class="MsoNormal">
	<span myriad="" style="font-size:10.0pt;line-height:115%;mso-bidi-font-family:
">Some other reasons like the power shortages, infrastructure deficits and lack of policy predictability could be cited as other bottlenecks to attract both international and domestic investment. They are but only secondary to overarching ultra-red communist image of the government and industrial anarchy created by the trade unions invariably led by party cadres rather than the workers. Not only international, even domestic investment is not likely to come by in any significant measure until and unless these fundamentals are changed for the better.<br />
	<br />
	<br />
	</span></p>',
			'published' => true,
			'created' => '2012-10-10',
			'modified' => '2012-10-30',
			'keywords' => '',
			'description' => 'The Government of Nepal has declared 2012 as the Investment Year. It was apparently meant to attract international investment, or foreign direct investment (FDI) into Nepal. But as the year closes to its end, there still is not any case of significant FDI entering this country. Worse still, a number of companies with such investment have already pulled their shutters down, or, planning to do so.',
			'sortorder' => '599',
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	),
	(int) 9 => array(
		'Article' => array(
			'id' => '702',
			'article_category_id' => '50',
			'title' => 'Feedback September 2012',
			'sub_title' => '',
			'summary' => null,
			'content' => '<p>
	<strong><img alt="feedback" border="1" height="554" hspace="5" src="http://www.newbusinessage.com/ckfinder/userfiles/Images/businessage.jpg" vspace="5" width="452" /><br />
	<br />
	Pharmaceuticals Dilemma <br />
	</strong></p>
<p>
	The cover story on ‘Growing Business of Pharmaceutical Companies’ in your August issue is very inspiring. You have put great effort in highlighting the pros and cons of the pharmaceutical business. I was hitherto unknown about so many aspects of the pharmaceutical business. However, the fact is; there is a shortage of medicines all over the country that is making rural life tougher. The growing business of pharmaceutical industries is not helping in fulfilling the demand of essential medicines let alone the hightech medicines. Medicinal business must not be a money making business whereas industrialists should acknowledge that public support is vital in operating any industry. I am not against those industries running with profit either. What I want to highlight is the money motive of the industrialists which is stopping them from caring about the well being of the citizens besides their businesses. Government encouragement and incentives are also important in this regard. Apart from that, it is pitiful to learn that Nepali industries are competing with similar Nepal-made products. Furthermore, high prices of the medicines have been a headache to the general people. Good monitoring and inspection as carried out by the Department of Drug Administration (DDA) is praiseworthy but it is noted that without publicizing the facts, their hard work goes in vain. The conclusion of the story, however, talks about the future of pharmaceutical companies which indeed has shown a new ray of hope for the medicine business in Nepal.<strong><br />
	Achyut Giri, Baluwatar, Kathmandu</strong></p>
<p>
	<strong><br />
	</strong></p>
<p>
	<strong>Like Reading your Magazine</strong><br />
	<br />
	I am a student of management currently pursuing MBA. Since my aim is to become a business person, I like reading New Business Age as it features interviews and articles on prominent businessman. I hope to try to pursue the strategies and techniques that successful businessman apply in their business. I also like to see a number of international business people being features in your magazine. I was hoping to read about people from the banking sector in your August issue and surprisingly Global IME Bank Chairman Chandra Prasad Dhakal was featured there. It is certainly inspiring to read about somebody like him who had very humble beginnings. Reading your magazine has become a hit with my friends also. Every time I finished reading your magazine, I used to give it to my friends studying management with me. Now, they have started reading your magazine even before I do. <strong><br />
	Aashish Shrestha, New Road, Kathmandu</strong></p>
<p>
	<strong><br />
	</strong></p>
<p>
	<strong>Value Addition</strong></p>
<p>
	<br />
	The new design for the past few issues has made New Business Age very attractive. Extra pages have also added value to your magazine and it is certainly worth the money. It is heartening to note that the magazine is of international standard now, not only for its design and size, but also for its content. I have a collection of your magazine since a long time and I often like to refer to them for various work purposes. <br />
	<strong>Dilip Darji, Hetauda </strong></p>
<p>
	<br />
	<strong>Local People Involvement in Hydropower</strong><br />
	<br />
	Projects Investment from local people in hydropower projects as mentioned in your write up ‘Chilime Hydropower: Dreaming Large’ is a new initiation from the private sector. Business companies know that if local people are involved in the project, it will benefit the people as well as the company in the long run. People support and help in removing hurdles that come in the way of projects running in their locality. I think it is now time for people to initiate themselves if not encouraging closed or semi- closed hydropower projects. People who live close to the future hydropower projects must initiate in running uncertain projects by themselves or seek support from big business firms or aid agencies. Lastly, as we need more hydropower projects to get rid of the load shedding, I expect more write ups in your magazine to this effect in the upcoming issues.<br />
	<strong>Saraswati Kathayat, Mulpani, Chabahil</strong><br />
	<br />
	<br />
	<strong>Chilime Hydropower</strong><br />
	<br />
	<img align="left" alt="hydropower" border="1" height="131" hspace="10" src="http://www.newbusinessage.com/ckfinder/userfiles/Images/chilime.gif" style="width: 243px; height: 131px;margin:10px;padding:10px;" vspace="10" width="243" />In your August issue, there was coverage about Chilime Hydropower. You have mentioned about four other subsidiary hydropower projects along with Chilime Hydropower which I think is good news for people of this country who are troubled by the load shedding. Hydropower has been regarded as a medium to economic prosperity for a developing country like Nepal. I was happy to read about economic and technical preparations reaching final stage in relation to the construction of all four projects. These hydropower companies are expected to help in making Nepal a load shedding free country. It will ease daily life of the normal people as well. Since Chilime is based on 4p model –people-publicprivate- partnership; it proves that the role of private sector is very important in developing hydropower in Nepal. <br />
	<strong>Hira Sharma, Kohalpur, Banke&nbsp; <br />
	</strong></p>
<p>
	 </p>
<p>
	<strong><br />
	</strong></p>',
			'published' => true,
			'created' => '2012-10-04',
			'modified' => '2012-10-30',
			'keywords' => '',
			'description' => 'The cover story on ‘Growing Business of Pharmaceutical Companies’ in your August issue is very inspiring. You have put great effort in highlighting the pros and cons of the pharmaceutical business',
			'sortorder' => '598',
			'image' => null,
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	(int) 10 => array(
		'Article' => array(
			'id' => '700',
			'article_category_id' => '34',
			'title' => 'Bhatbhateni Opens Outlet At Pokhara',
			'sub_title' => '',
			'summary' => null,
			'content' => '<p>
	<img alt="bhatbateni" border="1" height="191" hspace="5" src="http://newbusinessage.com/ckfinder/userfiles/Images/bhatbateni.jpg" vspace="5" width="400" /><br />
	<br />
	Bhatbhateni Super Market and Departmental Store Pvt Ltd opened its new outlet at Pokhara on July 14. Min Bahadur Gurung, Managing Director of Bhat Bhateni Supermarket and Department Store, inaugurated the new Pokhara outlet. <br />
	<br />
	The opening ceremony was initiated with the slogan “Product of Pokhara, Product of Nepal.” It is the sixth chain of the store and the first outside the Kathmandu Valley. According to Gurung, around 50,000 customers attended the opening of the store including businesspersons, tourism entrepreneurs, Nepal army and police personalities and local people of Pokhara. He expressed his happiness as more number of people visited the store during the opening ceremony, which was double the amount he had expected. <br />
	<br />
	The group has invested Rs 750 million in its Pokhara expansion drive. Gurung informed that the rates of the goods sold from Pokhara stores would be similar as that of the stores in Kathmandu. The new outlet at Pokhara features daily commodities, food items, vegetables, fruits, liquors, kitchenware, garments, electronic appliances, furniture, and decorative items, among others. “We will be bringing the finest quality products from all over the world and also provide world class service to our customers,” said Gurung. <br />
	<br />
	Bhatbhateni will provide 10 percent discount on all products for one month at the Pokhara outlet. <br />
	<br />
	 </p>',
			'published' => true,
			'created' => '2012-08-16',
			'modified' => '0000-00-00',
			'keywords' => '',
			'description' => 'Bhatbhateni Super Market and Departmental Store Pvt Ltd opened its new outlet at Pokhara on July 14. Min Bahadur Gurung, Managing Director of Bhat Bhateni Supermarket and Department Store, inaugurated the new Pokhara outlet.',
			'sortorder' => '597',
			'image' => null,
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	(int) 11 => array(
		'Article' => array(
			'id' => '699',
			'article_category_id' => '34',
			'title' => 'Nepal Losing Out On FDI To Neighbouring Indian States',
			'sub_title' => '',
			'summary' => null,
			'content' => '<p>
	A good chunk of Foreign Direct Investment (FDI), perhaps meant for Nepal is finding its way to the neighbouring Indian states. The Indian states, specially those sharing borders with Nepal, such as Bihar, Uttar Pradesh, Uttaranchal etc are fast becoming preferred investment destinations for foreign investors, thanks to the rapid infrastructure development, investment friendly industrial policies and guarantee of investment security in India in recent times. <br />
	<br />
	Additionally, the political instability, strikes and extortions has hit the Nepali entrepreneurs adversely. Industrialists in Nepal have held responsible the government for lack of security. They have shown their dissatisfaction towards the government for narrowing the tax liberty rather than providing subsidies. <br />
	<br />
	Suraj Vaidya, President, FNCCI, said, “It is such a dreadful condition that the government has not been able to formulate economic agenda for overall industrial growth. “Investment securities are the major concern for both national and international investors these days. The present scenario would adversely affect the Nepali economy, thus losing out a large chunk of FDI to its southern neighbor, added Vaidya. Upper Karnali and Western Seti incidences have marked a bitter experience amongst the foreign investors. As stated by top officials of the federation, one Nepali Biscuit Industry vanished to India due to lack of favorable business environment. <br />
	<br />
	Dinesh Shrestha, Sectoral Committee Chairperson of FNCCI said, “The leaders of political parties have not been able to create favorable environment for investment. He urged the need to control the party workers to put a stop to the acts of extortion and strikes. The industrial policy drafted two years ago has not come into execution. This has resulted in creating discouragement amongst the Nepali industrialists. <br />
	<br />
	Currently, the financial indicators of Nepal are negative which stands at 134th position in terms of FDI within the list of 141 countries based on the World Investment Report-2011. Similarly, “Doing Business Index” of World Bank has considered Nepal as an unfavorable destination for Investment and doing business. This has relayed negative message in the international arena. On the other hand, foreign investors are lured towards neighbouring states of India due to flexibility in Indian FDI policies. <br />
	<br />
	Radhesh Pant, CEO, Investment Board, said, “Foreign investors seek “One Window Shop” and we have not been able to do adequate marketing of the available resources and other positive aspects.” There is a lack of coordination between the government and private sector in Nepal unlike India, added Panta. According to him, the government should provide investment security to existing investments along with seeking additional flow of FDIs. <br />
	<br />
	According to Vaidya, creating favorable investment environment and improvement in policies are primary steps towards attracting FDIs. Apart from it, political stability is the major factor governing this process. <br />
	 </p>',
			'published' => true,
			'created' => '2012-08-16',
			'modified' => '0000-00-00',
			'keywords' => '',
			'description' => 'A good chunk of Foreign Direct Investment (FDI), perhaps meant for Nepal is finding its way to the neighbouring Indian states. The Indian states, specially those sharing borders with Nepal, such as Bihar, Uttar Pradesh, Uttaranchal etc are fast becoming preferred investment destinations for foreign investors, thanks to the rapid infrastructure development, investment friendly industrial policies and guarantee of investment security in India in recent times.',
			'sortorder' => '596',
			'image' => null,
			'article_date' => '0000-00-00 00:00:00',
			'homepage' => false,
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			'user_id' => '0'
		)
	),
	(int) 12 => array(
		'Article' => array(
			'id' => '698',
			'article_category_id' => '34',
			'title' => 'NDEX Money Expo 2012 From August 31',
			'sub_title' => '',
			'summary' => null,
			'content' => '<p>
	<img alt="" border="1" height="115" hspace="5" src="http://newbusinessage.com/ckfinder/userfiles/Images/NDEX.jpg" vspace="5" width="400" /><br />
	<br />
	A three-day NDEX Money Expo 2012 will take place in the capital from August 31 to September 2. ‘Arthik Abhiyan’ daily and Jamb Technologies in association with Minds Nepal and Morningstar Investment Services are organizing the event. <br />
	<br />
	Inspired from the success of Money Expo 2011 held last year, and being able to obtain wide appreciation from different business groups, visitors, regulatory bodies and participants; “NDEX Money Expo 2012” is believed to be a mega financial event. Being the largest finance and investment show in Nepal, it will focus on the promotion of investment opportunities and wealth protection strategies. <br />
	<br />
	Suraj Vaidya, President of Federation of Nepalese Chambers of Commerce and Industry (FNCCI), said that the expo would help in motivating the investors and bring in investment by creating environment for interaction between different industrialists and business giants. <br />
	<br />
	“Events like this should be organized at regular intervals as they will definitely help improve investment climate in the country,” said Radesh Pant, CEO of Investment Board. Confederation of Nepalese Industries (CNI) Vice President Hari Bhakta Sharma urged the private sector to issue white paper to pressure the government. “Private sector must unite for a common minimum economic agenda and build pressure on the government,” he said. <br />
	<br />
	Similarly, Director of Nepal Rastra Bank Ashwani Kumar Thakur also urged to separate politics and economy for prosperity. Thakur told that he believes events like NDEX Money Expo 2012 would be highly effective to encourage and motivate investors. <br />
	<br />
	Bishnu Prasad Dhakal, Under Secretary at the Ministry of Industry, told that events like NDEX Money Expo 2012 should be a discussion platform on choosing the appropriate economic model of the country. He emphasized that the entrepreneurs should focus on the sectors having higher competitive advantage. Dhakal urged that domestic businesspersons should focus more on agriculture and hydroelectricity generation. <br />
	<br />
	“It will offer complete financial and investment solutions,” said Chairman of Arthik Abhiyan daily Madan Lamsal. The expo will focus on the promotion of investment opportunities and wealth protection strategies, he said. <br />
	<br />
	Speaking at the event, Kush Kumar Joshi, Chairman of Nepal Infrastructure Development Company Ltd, said that until and unless there is sufficient domestic investment, foreign investment cannot be expected. He urged collection of funds from the domestic sector for the infrastructure development of the country. He added that the basic prerequisite in inviting foreign investment is the development of the internal infrastructure. The expo is a unique businessnetworking event for the companies of financial sectors and their constituents. It provides investors a valuable opportunity to speak directly with the nation´s top financial experts related to trading and investment, banking, insurance, mutual funds, stocks, tax strategies, commodities and personal financial planning. <br />
	<br />
	The expo will have more than 122 stalls of different regulatory bodies, stock and commodity exchanges, banks and financial institutions, merchant bankers, investment companies, brokerage companies, remittance companies, insurance companies, depositors and clearing houses, portfolio management companies, financial knowledge management and training institutes, microfinance and cooperatives, traders and investors associations and clubs and financial domain technologies among others. Besides, various other events like seminars and speeches from financial experts, regulators, analyst and top investors, art exhibition and quiz contest, national and international currency show, trading and investment movie show will also be organized at the sidelines of the expo. <br />
	<br />
	<strong><br />
	The organizers are expecting a footfall of more than 300,000 at the event. </strong><br />
	<br />
	 </p>',
			'published' => true,
			'created' => '2012-08-16',
			'modified' => '0000-00-00',
			'keywords' => '',
			'description' => 'A three-day NDEX Money Expo 2012 will take place in the capital from August 31 to September 2. ‘Arthik Abhiyan’ daily and Jamb Technologies in association with Minds Nepal and Morningstar Investment Services are organizing the event.',
			'sortorder' => '595',
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	),
	(int) 13 => array(
		'Article' => array(
			'id' => '697',
			'article_category_id' => '34',
			'title' => 'Samsung Plaza Completes 10 Years',
			'sub_title' => '',
			'summary' => null,
			'content' => '<p>
	<br />
	<img alt="samsung plaza" border="1" height="264" hspace="5" src="http://newbusinessage.com/ckfinder/userfiles/Images/samsung(2).jpg" vspace="5" width="300" /><br />
	<br />
	<br />
	Samsung Plaza Durbar Marg has completed 10 years of its operations successfully. It is an exclusive brand outlet of Samsung AudioVisual (AV) and Home Appliances (HA) products of Him Electronics, the authorized distributor of Global No. 1 Consumer Electronics Brand in Nepal. According to Seema Golchha, Director of Samsung Plaza, “We feel immensely happy after the successful completion of 10 years of Samsung Plaza and would like to give this credit to all of our valued customers. <br />
	<br />
	<br />
	Samsung Plaza showcases and retails Samsung’s latest technology products including Audio Visual Products, Home Appliances and Samsung’s Camera. It is an outlet that sells Samsung Products to the customers and provides exclusive services like high value purchase, after sales services, purchase counselling, doorstep delivery and free installation. Along with Durbar Marg, Samsung Plaza has expanded its service in Civil Mall, New Baneshwor and Kumaripati throughout the period of 10 years. <br />
	<br />
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	<br />
	<br />
	Thakral One, the end-to-end business solution provider for emerging markets, and Microsoft Corp recently concluded an event titled ‘Maximising Business Productivity’. <br />
	<br />
	<br />
	The event, attended by senior executives from across industries, provided the platform to highlight the need for deploying user-friendly applications and optimized infrastructure for organisations looking at sustaining as well as growing in the current dynamic business environment. Director - Asia Pacific Region at Microsoft, Alexander Oddoz- Mazet, shared with the audience how an exponential evolution of technologies and infrastructure, done independently in most cases, is creating communication silos and hence, there is a necessity of streamlining communications within the business world. Unified communications and business productivity solutions from Microsoft provide the answers to challenges such as these. <br />
	<br />
	Nabin Joshi, AGM-Sales &amp; Marketing of Thakral One, said, “Microsoft SharePoint is a business collaboration platform offering for the enterprise which would enable portal, workflow, business intelligence, enterprise search and content management capabilities. While commenting on Microsoft Unified Communications as a way to reduce complexity by putting people at the centre of the communications experience, Deependra Raj Bajracharya, Partner Account Manager (Nepal) of Microsoft Bangladesh Limited, said, “The goal is to integrate all of the ways we contact each other in a single environment while providing businesses with the power to choose how they provision those services.”<br />
	<br />
	Describing Thakral One’s commitment to its clients and partnership with Microsoft, Arun Khatri, Manager – Business Development – Enterprise Solution at Thakral One, said, “We are delighted to work with Microsoft for extending unified communications and business productivity solutions to our clients.” He added, “Our focus on building local infrastructure and endto- end skill sets, along with the proven methodologies that the Microsoft- Thakral One partnership brings to the table, will enable our customers to innovate and adapt to dynamic market conditions.” <br />
	<br />
	<br />
	The conference also delved on topics like the importance of optimising infrastructure, assessing and streamlining processes and, maximising team interactions and productivity. The evening ended with an invitation to the attendees to participate in the Customer Immersion Experience (CIE) – A unique opportunity for organisations and their end-users to get a rich, handson interactive experience, in a true-tolife environment, unlike traditional product presentations or demos. <br />
	<br />
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	<span class="A13"><span style="font-size:
59.0pt"><img alt="cocacola" border="1" height="187" hspace="10" src="http://newbusinessage.com/ckfinder/userfiles/Images/cocacola(1).jpg" vspace="10" width="227" /><br />
	T</span></span><span myriad="" style="font-size:10.0pt;mso-bidi-font-family:">ime and again, we hear about intense competition between brands. Companies try to prove their superiority over their rivals and to outsmart them which sometimes turn into brand wars. How does one differentiate products that have the same attributes? The only way is to position it differently through advertising campaigns and outrun the competition. Some classic examples are that of Coke Vs Pepsi along with some others like Horlicks Vs Complan.</span></p>
<p>
	&nbsp;<span myriad="" style="font-size:10.0pt;mso-bidi-font-family:">A research indicates that one could not distinguish between Coke and Pepsi in a blind test so, technically, they are the same. However, with smart positioning of Coke, brands like Sprite and Fanta have made them more appealing to the consumers. Locally, Sprite’s ongoing “Bato Clear Chha” campaign is being liked by the masses for its fresh approach to a mundane product. On the other hand, Pepsi has embarked on a global approach focusing on comparatively healthy drinks like Lipton Cold Tea and Tropicana Juice. With the obesity problem, lifestyles have changed thus urging companies to come up with healthier products. In that spirit, the company is giving more attention to water, juices and sports drinks which seems like a logical approach.</span> <br />
	<br />
	<img alt="airlines" border="1" height="201" hspace="10" src="http://newbusinessage.com/ckfinder/userfiles/Images/horlicks.jpg" vspace="10" width="300" /></p>
<p class="Default">
	<span myriad="" style="font-size:10.0pt;
mso-bidi-font-family:">There is an ongoing battle between Horlicks and Complan, both claiming their beverage can make children sharper, taller and stronger. The ad claims that children who were served Complan grew twice as fast to those on a regular diet due to its milk protein and nutrients. It also builds credibility by saying “Approved by Department of Food Science and Nutrition”. There is an ongoing case filed by the makers of Horlicks against Complan for allegedly damaging their reputation. In recent times, Horlicks is into a new strategy targeting working adults too and not just kids.</span></p>
<p class="Default">
	<span myriad="" style="font-size:10.0pt;
mso-bidi-font-family:">Buddha Air and Yeti Air, the giants in Nepal’s domestic aviation, saw a similar war going sometime back. One claimed their engine as slicker and superior while the other claimed their commitment to safety and convenience for passengers. Keeping aside the technical superiority of their airplanes, one thing that the ‘war’ did was to keep the two brands in the minds of the customers. At the end, it’s of course the customer who decides on the brand they feel emotionally connected with and not necessarily the functional superiority.</span></p>
<p class="Default">
	<span myriad="" style="font-size:10.0pt;
mso-bidi-font-family:">Many brands fought their own battles to cash in on the recently held London Olympic Games, the greatest sporting event, as well. While athletes all over the world flexed their muscles eying gold medals, companies made bids to get maximum exposure for their brands during the event. One of the surprise winners is Twitter which became popular because of inappropriate tweets from athletes. It was the first time when a social network brand cashed in on the Olympics. Well known sporting brand Puma’s bet on the world’s fastest man Usain Bolt paid off handsomely with unprecedented brand exposure during the games. Similarly, Nike and Gatorade too got their share of the pie. All in all, brand wars are more about reputation wars rather than product superiority. Since the competing brands in a certain category hardly have any differentiation product-wise, the only way out is to go head-on with the competition.</span> <br />
	<b style="mso-bidi-font-weight:normal">&nbsp;</b></p>
<p class="MsoNormal">
	<b style="mso-bidi-font-weight:normal"><span style="font-size:8.0pt;line-height:115%;color:#211D1E">Karki can be reached at sajag_karki@hotmail.com. The article is based on research and author’s practical experience as a marketing and advertising professional.<br />
	<br />
	<br />
	<br />
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mso-hansi-theme-font:minor-latin;mso-bidi-font-family:Impact">Stock Taking</span></span></p>
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	<span class="A3"><span style="font-size:18.0pt;line-height:
115%;font-family:&quot;Calibri&quot;,&quot;sans-serif&quot;;mso-ascii-theme-font:minor-latin;
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	<span style="font-size:32.0pt;line-height:115%;mso-bidi-font-family:
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	<br />
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	<span style="font-size:11.5pt;line-height:115%;mso-bidi-font-family:
&quot;Myriad Pro&quot;;color:#211D1E">&nbsp;The fourth quarterly reports of the companies failed to boost the market</span></p>
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&quot;Myriad Pro&quot;;color:#211D1E">&nbsp; <br />
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<p class="Default">
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59.0pt">W</span></span><span style="font-size:10.0pt;mso-bidi-font-family:&quot;Myriad Pro&quot;;
color:#211D1E">hile the fourth quarterly reports of the previous fiscal year were coming in, it looked like that the share market of Nepal was going to get another boost. Almost all the banks and financial institutions (a sector that dominates this market) were reporting increased profit for the previous year. But that did not happen. The benchmark Nepse index lost 11.53 points or 2.91% to rest at 396.83 at the end of the review month. The session’s high was on 23 July (408.36) and the low was on 15 August (392.03).</span> </p>
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	<span style="font-size:10.0pt;mso-bidi-font-family:&quot;Myriad Pro&quot;;color:#211D1E">The reason was however obvious. The investors ignored the satisfactory reports as pessimistic sentiments (about dividend yield) ruled the environment. Shares of major blue chip companies fell down despite the companies showing healthy performance in the last year.</span>&nbsp; <span style="font-size:10.0pt;mso-bidi-font-family:&quot;Myriad Pro&quot;;color:#211D1E">However the hydropower companies were exceptions as they registered straight growth stoking expectations of attractive dividends. Three out of the four listed hydropower companies reported grown in their income pushing the group index up.</span> </p>
<p class="Default">
	<span style="font-size:10.0pt;mso-bidi-font-family:&quot;Myriad Pro&quot;;color:#211D1E">Also the monetary policy for the fiscal year 2069/70 failed to drive the stock market. The policy has increases Cash Reserve Ratio (CRR) for the Banking and Financial institutions. This is sure to push up the lending rates causing restraint in borrowing and thus in the business volume and profits of the banking companies.</span> <span style="font-size:10.0pt;mso-bidi-font-family:&quot;Myriad Pro&quot;;color:#211D1E">In the review period, the Securities Board of Nepal (SEBON) has suggested Citizen Investment Trust CIT) to mobilize Rs 5 billion in the secondary market to boost up the sagging sentiments in the market. CIT says it is evaluating the feasibility to undertake the role of a market maker. If CIT really takes up this role, it will be a milestone for the betterment of capital market in Nepal.</span> </p>
<p class="Default">
	 </p>
<p class="Default">
	<strong>&nbsp;</strong></p>
<p class="Pa15" style="margin-top:5.0pt">
	<strong><span style="font-size:11.5pt;
mso-bidi-font-family:&quot;Myriad Pro&quot;;color:#211D1E">Performance by Sector </span></strong></p>
<p class="Pa15" style="margin-top:5.0pt">
	 </p>
<p class="Default">
	<strong>&nbsp;</strong><span style="font-size:10.0pt;
mso-bidi-font-family:&quot;Myriad Pro&quot;;color:#211D1E">Banking sector which occupies the major volume of trade in the exchange plummeted 26.68 points or 7.52% to 354.7. Finance sector descended 12.74 points or 5.05% to 252.21 while development bank lost 6.92 points to close at 246.18. Trading sector receded 4.23 points to come to 187.74. However hydropower sector gained hefty 65.69 points of 8.53% to settle at 770.53. Manufacturing sector too went up 42.06 points to 728.8 while there was 17.62 points increase in others to 635.62.</span> </p>
<p class="Pa10" style="text-align:justify">
	<span style="font-size:10.0pt;
mso-bidi-font-family:&quot;Myriad Pro&quot;;color:#211D1E">Sensitive index that measures the performance of 133 blue chips plunged 1.78 points or 1.74% to 102.11 while the float index calculated on the basis of real transaction went down 1.41 points or 4.64% to 30.37. The turnover was of Rs. 1,362,406,374 during the review period from 4,572,497 units of share traded via 27,297 transactions. </span></p>
<p class="Default">
	<span style="font-size:10.0pt;
mso-bidi-font-family:&quot;Myriad Pro&quot;;color:#211D1E">The accompanying figure shows the sector-wise distribution based on the total volume of trade. Commercial bank has accounted for 63.31% of total volume of trade. Hydropower sector occupied 20.49% while remaining sector covered the rest.</span> </p>
<p class="Pa10" style="text-align:justify">
	<span style="font-size:10.0pt;
mso-bidi-font-family:&quot;Myriad Pro&quot;;color:#211D1E">Technically, the Simple Moving Average (SMA) indicates to stagnation in the short term as both Nepse index and 30 days SMA are moving flat. In the long term analysis, the index has already crossed the 200 days SMA indicating that an absence of strong fundamentals will lead to correction. </span></p>
<p class="Default">
	 </p>
<p class="Default">
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	<strong>&nbsp;<span style="font-size:8.0pt;line-height:115%;mso-bidi-font-family:
&quot;Myriad Pro&quot;;color:#211D1E">Chitrakar is a Stock Analyst with Jamb Technologies Pvt Ltd.</span></strong></p>
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	<strong><span style="font-size:8.0pt;line-height:115%;mso-bidi-font-family:
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	<span style="font-size: 12px;">&nbsp;</span><span myriad="" style="font-size: 15pt; line-height: 115%;">&nbsp;</span><span style="font-size: 15pt;">“We offer a warm hospitality and also have a beautiful garden to ensure a calming atmosphere.”</span></span></p>
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	&nbsp;<img alt="kumar" border="1" height="184" hspace="10" src="http://newbusinessage.com/ckfinder/userfiles/Images/spadirector.jpg" vspace="10" width="144" /></p>
<address>
	<strong><span class="A5"><span style="font-size:10.0pt">Kumar R Maharjan &nbsp;</span></span></strong></address>
<address>
	<strong><span class="A5"><span style="font-size:10.0pt">Chairman </span></span></strong></address>
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	<strong><span class="A5"><span myriad="" style="font-size:10.0pt;line-height:
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<p class="MsoNormal">
	<span class="A13"><span style="font-size:
59.0pt">W</span></span><span myriad="" style="font-size: 10pt;">ho wouldn’t love relaxation after a long and stressful day at work? Heritage Spa, with a tagline ‘an invitation for relaxation’, has come up with various stress-busting therapies. The spa is located in a serene and peaceful setting within the heart of maddening and bustling city of Kathmandu. Heritage Spa, located at Sanepa Height, has proven to be an easy getaway from a tiresome and stressful day.</span></p>
<p class="Default">
	<span myriad="" style="font-size:10.0pt;
mso-bidi-font-family:">Kumar R Maharjan, Chairman at the Heritage Spa says that in partnership with his friend, the spa was established in October 2011. It was started with a motive to offer relaxation to people, right next to their door at an affordable cost and within a short duration. “Irrespective of the profession one chooses, s/he needs relaxation due to stressful working hours. Usually, working people suffer from body pain, stiff muscles, mental stress and similar other problems,” he says, “This is a place where they can get rid of such stresses.”</span></p>
<p class="Default">
	<span myriad="" style="font-size:10.0pt;
mso-bidi-font-family:">Maharjan says that there are various categories of spas. However, a spa needs appropriate location with peace and tranquillity. He believes a customer should be able to feel the positive vibe at the moment of entering the spa. “We offer a warm hospitality and also have a beautiful garden to ensure a calming atmosphere,” he says.</span></p>
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	<span myriad="" style="font-size:10.0pt;
mso-bidi-font-family:">According to Maharjan, Heritage Spa does not use any chemical-based products for any of its service offerings. The spa even produces Aloe Vera – needed for various therapies – on its own. The company believes that anything that is not to be eaten should not be applied on the skin either.</span> <br />
	<br />
	<img alt="Heritage Spa" border="1" height="227" hspace="10" src="http://newbusinessage.com/ckfinder/userfiles/Images/product_1.jpg" style="float:left; margin:0 10px 0 0;" vspace="10" width="400" /></p>
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	<span myriad="" style="font-size:10.0pt;
mso-bidi-font-family:">Heritage Spa offers over two dozen services which cover treatments from head to toe. The spa claims to be the specialist in Swedish style facial and body massage. A session at Heritage Spa ranges anything from Rs 450 for a steam bath to Rs 3,500 for a ‘Shirodhara’. Maharjan explains that ‘Shirodhara’ is a therapy designed to eliminate mental exhaustion as well as stress and any ill effects on the central nervous system.</span></p>
<p class="Default">
	<span myriad="" style="font-size:10.0pt;mso-bidi-font-family:">The spa offers its signature services for both males and females. Reena Shrestha, Aesthetician at the spa says that males prefer receiving services before special occasions and parties while women do not need any special occasion as they always love to feel and look beautiful. <span style="mso-spacerun:yes">&nbsp;</span>Swedish style Facial is one of the signature services offered by the spa which involves pressing the right nodes in the face that makes the skin look younger. Shrestha says that use of natural products like almond, honey, milk, cucumber, Aloe Vera along with the right technique nourishes the skin and leaves a refreshing result.</span></p>
<p class="Default">
	<span myriad="" style="font-size:10.0pt;mso-bidi-font-family:">Similarly, Raw Coffee Body Scrub would be a perfect option for those looking to purify and cleanse dead skin cells from the body that ensures smooth and supple looks. Maharjan adds that body scrubs are equally beneficial for elderly people and the youngsters. Likewise, the Camphor Oil Body Treatment is one of the most demanded signature services at the spa. Using traditional ayurvedic methods of massage, the therapy heals painful tight muscles, removes toxins and unblocks energy flow. The massage session that takes around 60 to 90 minutes releases tensions and stress from the body.</span></p>
<p class="Default">
	<span myriad="" style="font-size:10.0pt;mso-bidi-font-family:">Other than these, the spa offers services and therapies that include Head and Shoulder Treatment, Purifying Bio Fruit Facial, European Style Spa Treatment, Sugar Body Polish and Scrub, Healing Package for Elder Citizens, Hot Stone Therapy and Massage for Trekkers/Hikers among 25 various services. It also has service categories for teenagers, working people and senior citizens.</span></p>
<p class="Default">
	<span myriad="" style="font-size:10.0pt;
mso-bidi-font-family:">Currently, the spa has ongoing seasonal offering named Sexy Legs targeted at teenage girls for the summer season. Shrestha says that teenagers like to look good and stylish so the spa is trying to cash this sentiment. The offer includes waxing of leg and removing dark spots in elbow and other body parts. “Polishing with brown sugar gives a silky smooth and glowing finish to their legs,” says Maharjan. During the winter, the spa runs grooming service as well.</span></p>
<p class="Default">
	<span myriad="" style="font-size:10.0pt;
mso-bidi-font-family:">Adherence to the ethical practices is the speciality of Heritage Spa while being committed to the service excellence at the same time. When a customer enters the spa, s/he is accorded a warm hospitality. Further, the confidence of the customers is gained by properly explaining the procedures and making them understand all the dos and don’ts of the services. Maharjan says that highest degree of ethics is maintained at the staff level to provide customer satisfaction to the clients. “Even if a customer does not have any idea about spa treatments, we suggest and recommend the right services for them along with service etiquettes,” he adds.</span></p>
<p class="Default">
	<span myriad="" style="font-size:10.0pt;
mso-bidi-font-family:">Availing services at the Heritage Spa requires at least two hours prior bookings. Maharjan says that people like his spa because it is run by aestheticians trained abroad. The spa is open from 8 am to 8 pm and can offer services to 10 people at once. He adds that 15 per cent of sales are made through Internet bookings.</span></p>
<p class="Pa10" style="text-align:justify">
	<span myriad="" style="font-size:10.0pt;
mso-bidi-font-family:"><img alt="heritage" border="1" height="360" hspace="10" src="http://newbusinessage.com/ckfinder/userfiles/Images/product_focus.jpg" style="font-size: 20px; line-height: 23px;" vspace="10" width="531" /></span></p>
<p class="Pa10" style="text-align:justify">
	<span style="font-size: 10pt;">An average monthly clientele comprises of 60 per cent expatriates as the spa is located right next to a number of NGOs and INGOs around where many expats and employees of these organisations reside. The rest 40 per cent clientele comprises the locals of the area.</span></p>
<p class="Default">
	 </p>
<p class="Default">
	<span style="font-size: 10pt; text-align: justify;">The Heritage Spa is planning to develop itself as a centre for excellent spa services. The spa has its own training academy and is planning to operate a CIDESCO (Comite International Desthetique Et De Cosmetologie) – an international organisation headquartered in Zurich that offers trainings and diplomas on Aesthetics – affiliated spa academy by 2014. Maharjan believes that having a spa academy will help filling the gap between demand and supply of qualified therapists in the market.</span></p>
<p class="Default">
	 </p>',
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			'description' => 'Using traditional ayurvedic methods of massage, the therapy heals painful tight muscles, removes toxins and unblocks energy flow. The massage session that takes around 60 to 90 minutes releases tensions and stress from the body.',
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			'article_category_id' => '39',
			'title' => 'Pilot Pens Everyone’s Favourite',
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			'content' => '<p>
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<p>
	<span class="A46"><span style="font-size:
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	<strong>DEEPAL KUMAR PURKOTI<span class="A5"><span style="font-size:
10.0pt"><br />
	Sales and Marketing Manager</span></span><br />
	Fair Trade Pvt Ltd</strong></p>
<p class="Default" style="margin-left:.5in">
	<strong><span class="A5"><span style="font-size:10.0pt"><br />
	<br />
	<br />
	</span></span></strong><span class="A13"><span style="font-size:59.0pt;mso-bidi-font-family:
&quot;Times New Roman&quot;;mso-bidi-theme-font:minor-bidi">N</span></span><span style="font-size:10.0pt;
mso-bidi-font-family:&quot;Times New Roman&quot;;mso-bidi-theme-font:minor-bidi;
color:#211D1E">o matter how much writing is being tried to be replaced by modern tools like computers and tablet PCs, writing wouldn’t be complete without a pen. When a writer’s pen writes smooth like silk and bears a powerful brand name, it would prove a cherry on top. Young toddlers to professional executives and everybody in between would love a pen that writes at every occasion. Fair Trade Pvt Ltd (FTPL), the sole authorised distributor of Pilot pens for Nepal, brings pens for all from the well known stationery brand from Japan - Pilot. <br />
	</span></p>
<p class="Pa10" style="margin-left:.5in;text-indent:14.0pt">
	<img align="left" alt="pilot" border="1" height="252" hspace="10" src="http://newbusinessage.com/ckfinder/userfiles/Images/polit.jpg" style="margin:10px;padding:10px;" vspace="10" width="334" /><span style="font-size:10.0pt;color:#211D1E">The company has made easy availability of original pens from Pilot brand at affordable prices. Besides Kathmandu, rural Nepal also receives genuine products from Pilot through the dealerships spread over major cities in various parts of Nepal. Currently, the company has dealers in Biratnagar, Birgunj, Pokhara, Narayanghat and Hetauda, said Deepal Kumar Purkoti, Sales and Marketing Manager at FTPL. He said that the company is planning to open around three new showrooms in the near future. Through these showrooms, the company targets to reach every district and the remote villages too. <br style="mso-special-character:line-break" />
	</span></p>
<p>
	 </p>
<p class="Pa10" style="margin-left:.5in">
	<span style="font-size:10.0pt;
color:#211D1E">Though the company is distributing imported pens at the moment, it is also planning to produce pens within the country that bears the brand name of Pilot. “In around one-and-a-half-year’s time, FTPL is planning to produce certain products within the country,” Purkoti revealed. The company is planning to begin production in Nepal with a low segment pen and then expand into different categories. It is in the procedure to finalise the location for setting up the industry and investment volume. Similarly, the production capacity is not finalised yet, said Purkoti. <br style="mso-special-character:line-break" />
	</span></p>
<p class="Pa10" style="margin-left:.5in">
	<span style="font-size:10.0pt;
color:#211D1E">According to him, around 1.5 million Pilot pens are sold in Nepal annually. Super-GP, V5 series, board markers, permanent markers, gel pens, ball pens, mechanical pencils are some of the most popular categories of pens sold in Nepal. Similarly, V5 pens are popular among government officials and professionals as it is smooth and easy to write even in the Nepali paper used in government offices. Super GP, ball pens and gel pens are especially popular among students. At its showroom at Dharmapath in New Road, Pilot pens cost anywhere from Rs 15 to Rs 30,000. The fountain pen costing Rs 30,000 bears an 18-carat gold nib and cover holder. <br style="mso-special-character:line-break" />
	</span></p>
<p class="Pa10" style="margin-left:.5in;text-indent:14.0pt">
	<span style="font-size:10.0pt;color:#211D1E">The showroom was established around a year back with an investment of Rs 3 million. With the growing awareness among people about the brand, Purkoti revealed that the sale of Pilot pens lately is in an increasing </span><span style="font-size:10.0pt;mso-bidi-font-family:
&quot;Myriad Pro&quot;;color:#211D1E">trend. The company imports Pilot pens from Japan. <br style="mso-special-character:line-break" />
	</span></p>
<p class="Pa10" style="margin-left:.5in;text-indent:14.0pt">
	<span style="font-size:10.0pt;mso-bidi-font-family:&quot;Myriad Pro&quot;;color:#211D1E">Dr Grip is one such pen that has antiseptic, anti-smell, anti-sweating and bacteria-free characteristics. The pen, true to its name, is even certified by doctors and costs from Rs 500 to Rs 900. Likewise FriXion series pens can write, erase and rewrite. This pen is strongly discouraged for using in examinations and signing important documents. B2P is a distinctive ball pen that is made out of recycled water bottles. The store has over 250 varieties of Pilot pens. The company is planning to bring in pens that cost around Rs 10, in the near future. FTPL is going to add more products to the available range. These upcoming products include fountain pens, V series, sketch pens, mechanical pencils, gel markers, board markers, FriXion colour sets and other products for children. </span></p>
<p class="Pa10" style="margin-left:.5in;text-indent:14.0pt">
	<span style="font-size:10.0pt;mso-bidi-font-family:&quot;Myriad Pro&quot;;color:#211D1E">FTPL has held the dealership of Pilot pen in Nepal for 30 years. It is a trading company that is in existence for three decades and has been involved in importing garments, Pilot pens, Konica Minolta products and medical equipments among others. There are 40 employees working for the company. <br style="mso-special-character:line-break" />
	</span></p>
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	<span style="font-size:10.0pt;
mso-bidi-font-family:&quot;Myriad Pro&quot;;color:#211D1E">The company is revamping its marketing strategy. Purkoti says that old dealings will be done in newer ways like having wholesalers and distributors in all five development regions. Similarly, FTPL is planning to introduce promotional offerings for both customers and retailers. It will also undertake awareness campaigns by setting up stalls at schools and colleges to spread information to students. The company is planning to give away certain pens at the purchase amounting higher than a certain limit. Likewise, it is also thinking of giving special offers and gift hampers to dealers as well. <br style="mso-special-character:line-break" />
	</span></p>
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	<span style="font-size:10.0pt;
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	</span></p>',
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			'title' => 'Finding The Right Candidates',
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<p class="MsoNormal">
	&nbsp;</p>
<p>
	<span class="A35"><span style="font-size:15.0pt;line-height:
115%;font-family:&quot;Calibri&quot;,&quot;sans-serif&quot;;mso-ascii-theme-font:minor-latin;
mso-hansi-theme-font:minor-latin;mso-bidi-font-family:&quot;Myriad Pro&quot;">The HR department and the selection team should understand the interest of candidates and focus on the skills, capacities and passion of the candidates in order to select the right candidates for the organization.</span></span></p>
<p class="MsoNormal">
	<span class="A35"><span style="font-size:15.0pt;line-height:
115%;font-family:&quot;Calibri&quot;,&quot;sans-serif&quot;;mso-ascii-theme-font:minor-latin;
mso-hansi-theme-font:minor-latin;mso-bidi-font-family:&quot;Myriad Pro&quot;"><span style="mso-tab-count:1">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </span></span></span></p>
<p class="MsoNormal">
	<span style="font-size:11.5pt;line-height:115%;mso-bidi-font-family:
&quot;Myriad Pro&quot;;color:#221E1F">Knowledge, skills, aptitudes, interest, body language and attitudes are major factors which determine in selecting right candidates.<br />
	<br />
	<img alt="mangement" border="1" height="208" hspace="10" src="http://www.newbusinessage.com/ckfinder/userfiles/Images/management(3).jpg" vspace="10" width="336" /><br />
	</span></p>
<p class="Pa10" style="text-align:justify;text-indent:14.0pt">
	<span class="A13"><span style="font-size:
59.0pt">S</span></span><span style="font-size:10.0pt;mso-bidi-font-family:&quot;Myriad Pro&quot;;
color:#221E1F">creening and selecting the right candidates for organizations has been a major and challenging role for Human Resource (HR) professionals in various organizations. The process of collecting and evaluating information about an individual in order to extend an offer of employment is called employee selection. Through effective selection, an organization can maximize the probability that its new employees will have the necessary KSAs (knowledge, skills, and abilities and attitudes) to do the jobs they were hired to do. Effective employee selection is a critical component of a successful organization. <br />
	<br />
	</span><br />
	<strong><span style="font-size:11.5pt;
mso-bidi-font-family:&quot;Myriad Pro&quot;;color:#221E1F">Reach Out to Applicants</span>&nbsp; </strong><span style="font-size:10.0pt;mso-bidi-font-family:&quot;Myriad Pro&quot;;color:#221E1F"><br />
	<br />
	Screening and selecting candidates are comprehensive processes. Reaching out to the eligible candidates is the first step for successful recruitment. In the Nepali context, people prefer to read Nepali text despite their ability to read English content. Therefore, publication of vacancy advertisements with required details in Nepali magazines can have a comparative benefit. Similarly, the development and use of job specific forms helps to screen the serious and capable candidates. The process should be simple and screening criteria must be flexible that would help the HR professionals to find the right candidates. </span></p>
<p class="MsoNormal">
	&nbsp; </p>
<p class="Pa15" style="margin-top:5.0pt">
	<strong><span style="font-size:11.5pt;
mso-bidi-font-family:&quot;Myriad Pro&quot;;color:#221E1F">Reference Checking</span></strong></p>
<p class="Pa15" style="margin-top:5.0pt">
	 </p>
<p class="MsoNormal">
	<strong>&nbsp;</strong><span style="font-size:10.0pt;mso-bidi-font-family:&quot;Myriad Pro&quot;;color:#221E1F">Reference checking is one of the methods that have been used by various organizations in selecting the right candidate. It is recommended that an option should be given to the candidate regarding referee change if the candidate thinks that the mentioned referee cannot correctly explain his/her details during the interview phase. Therefore, a referee should be someone who knows the candidate well and who can be easily approached by the organization when required but should not necessarily be someone holding a strong position.</span> </p>
<p class="Pa10" style="text-align:justify">
	<span style="font-size:10.0pt;
mso-bidi-font-family:&quot;Myriad Pro&quot;;color:#221E1F">Similarly, reference check has to be done from both ends i.e. previous employers and also from the candidate themselves in order to avoid biasness. There are Credit information Bureaus in a few organizations that conduct reference checking for their respective organizations. </span></p>
<p class="MsoNormal">
	&nbsp;<img alt="employer" border="1" height="208" hspace="10" src="http://www.newbusinessage.com/ckfinder/userfiles/Images/men.jpg" vspace="10" width="336" /></p>
<p class="MsoNormal">
	 </p>
<p class="Pa15" style="margin-top:5.0pt">
	<strong><span style="font-size:11.5pt;
mso-bidi-font-family:&quot;Myriad Pro&quot;;color:#221E1F">Employer Branding</span></strong></p>
<p class="Pa10" style="text-align:justify">
	<strong>&nbsp;</strong><span style="font-size:10.0pt;
mso-bidi-font-family:&quot;Myriad Pro&quot;;color:#221E1F">Candidates prefer to join Banks/INGOs and the major reason for it is the availability of transparency in terms of facilities. Generally, the limited companies have good employer brands in the market due to their transparency in facilities. Effective employer branding would contribute in reaching and attracting the right and competent candidates. </span></p>
<p class="MsoNormal">
	&nbsp; </p>
<p class="Pa15" style="margin-top:5.0pt">
	<strong><span style="font-size:11.5pt;
mso-bidi-font-family:&quot;Myriad Pro&quot;;color:#221E1F">Interview</span></strong></p>
<p class="MsoNormal">
	<strong>&nbsp;</strong><span style="font-size:10.0pt;
mso-bidi-font-family:&quot;Myriad Pro&quot;;color:#221E1F">Some of the practices used by various organizations during interviews are a comparison between responses of the questions before normal situation and during stressed situation. It gives a good view of the candidate’s stress management capacity as strange questions are asked to candidates just to evaluate problem handling skills.</span> </p>
<p class="Pa10" style="text-align:justify">
	<span style="font-size:10.0pt;
mso-bidi-font-family:&quot;Myriad Pro&quot;;color:#221E1F">The HR department and the selection team should understand the interest of candidates and focus on the skills, capacities and passion of the candidates in order to select the right candidates for the organization. It is found that a candidate’s interest is of big importance and most of the time, interested and less experienced candidates outperform experienced but less interested candidates.</span></p>
<p class="MsoNormal">
	&nbsp;</p>
<p class="Default">
	<strong><span style="font-size:11.5pt;
mso-bidi-font-family:&quot;Myriad Pro&quot;;color:#221E1F">Challenges</span> </strong><br />
	 </p>
<p class="MsoNormal">
	<span style="font-size:10.0pt;
mso-bidi-font-family:&quot;Myriad Pro&quot;;color:#221E1F">There are external factors such as union, pressure from external parties, ready-made CVs and cover letters found abundantly on the internet that has high impact in screening and selecting the right candidates. Similarly, lack of seriousness in implementing set HR policies and procedures are also a major challenge. Moreover, it is found that job applicants randomly apply for positions without understanding the required skills, knowledge and abilities. As a result, organizations end up lacking quality applicants.</span> </p>
<p class="Pa10" style="text-align:justify">
	<span style="font-size:10.0pt;
mso-bidi-font-family:&quot;Myriad Pro&quot;;color:#221E1F">Knowledge, skills, aptitudes, interest, body language and attitudes are major factors which determine in selecting right candidates. HR professionals should possess a skill for blending above mentioned factors in order to recruit right candidates who can consistently contribute in strengthening an organization. </span></p>
<p class="MsoNormal">
	 </p>
<p class="MsoNormal">
	<strong>&nbsp;</strong></p>
<p class="MsoNormal">
	<strong>&nbsp;</strong></p>
<p class="MsoNormal">
	<strong><span style="font-size:8.0pt;line-height:115%;mso-bidi-font-family:
&quot;Myriad Pro&quot;;color:#221E1F">The above write-up by Purna Man Shakya is based on an ‘HR Kurakani’ discussion on the topic “Ways to screen and select the right candidates” held at Nepal Derivate Exchange Ltd on July 25, 2012. The participants at the discussion included representatives from INGOs, trading company, commercial banks, travel company, IT company, consulting firms and hospitality industry. Shailendra Raj Giri, MD of Real Solutions, acted as the moderator of the discussion while Nibha Shakya, HR Executive of the company, was the coordinator of the program.</span></strong></p>
<p class="MsoNormal">
	 </p>
<p class="MsoNormal">
	<strong><span style="font-size:8.0pt;line-height:115%;mso-bidi-font-family:
&quot;Myriad Pro&quot;;color:#221E1F">&nbsp;</span></strong></p>
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	<span class="A2"><span mso-bidi-font-family:="" myriad="" style="font-family:">By Nobuhiro Tsuboi</span></span></p>
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	<span class="A2"><span mso-bidi-font-family:="" myriad="" style="font-family:">&nbsp;</span></span></p>
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	<span myriad="" style="font-size:32.0pt;line-height:115%;mso-bidi-font-family:
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	<span class="A35"><span myriad="" style="font-size:15.0pt;line-height:
115%;font-family:">It is said that the involvement in a microfinance programme has enabled to increase their savings.</span></span></p>
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<p class="Pa24">
	<span class="A35"><span myriad="" style="font-size:15.0pt;line-height:
115%;font-family:"><span myriad="" style="font-size:15.0pt;mso-bidi-font-family:">“We are planning to open around three new showrooms in the near future. Through these showrooms, the company targets to reach every district and the remote villages too.” </span></span></span></p>
<p class="Default">
	<span class="A35"><span myriad="" style="font-size:15.0pt;line-height:
115%;font-family:">&nbsp;</span></span></p>
<p class="Default">
	<span class="A35"><span myriad="" style="font-size:15.0pt;line-height:
115%;font-family:">&nbsp;<img alt="depaak kumar purkot" border="1" height="189" hspace="10" src="http://www.newbusinessage.com/ckfinder/userfiles/Images/DEEPAL-KUMAR-PURKOTI.jpg" vspace="10" width="152" /></span></span></p>
<p class="MsoNormal">
	<span class="A35"><span myriad="" style="font-size:15.0pt;line-height:
115%;font-family:"><strong><span class="A5"><span style="font-size:10.0pt">DEEPAL KUMAR PURKOTI <br />
	Sales and Marketing Manager </span></span></strong><br />
	<strong><span class="A5"><span myriad="" style="font-size:10.0pt;line-height:
115%;font-family:">Fair Trade Pvt Ltd<br />
	</span></span></strong><br />
	</span></span></p>
<p class="Pa10" style="text-align:justify;text-indent:14.0pt">
	<span class="A13"><span style="font-size:
59.0pt">I</span></span><span myriad="" style="font-size:10.0pt;mso-bidi-font-family:">n rural Nepal, microfinance has more than 20 years’ history with Cooperative Act 1992 and people’s expectation to reduce rural poverty. It is said that the involvement in a microfinance programme has enabled to increase their savings.* This report introduced real achievement on the clients’ saving data deposited at SFCL Manahari in Makwanpur District.**</span></p>
<p class="Pa10" style="text-align:justify;text-indent:14.0pt">
	<strong><span myriad="" style="font-size:11.5pt;
mso-bidi-font-family:"><br />
	<img alt="financial" border="1" height="811" hspace="10" src="http://www.newbusinessage.com/ckfinder/userfiles/Images/financial(3).jpg" vspace="10" width="600" /><br />
	<br />
	Facts on the Ground</span><br />
	<br />
	</strong><span myriad="" style="font-size:10.0pt;mso-bidi-font-family:">First of all, I show the changes of 484, all continuous shareholder families’ financial assets for the period of July 2006-July 2011. Its growth ratio is 140.3 per cent as shown in Table 1. ‘Family financial assets’ consist of all financial assets deposited at the SFCL and belong to individual families i.e. shares, compulsory group savings, each voluntary individual savings and family members’ individual savings. ‘Continuous shareholder’ means those who were shareholders continuously at least from 2006 to 2011. Incidentally, the number of shareholders was 771 in 2006 and 1,155 in 2011, of which 484 shareholders have been continuous shareholders for the period. </span></p>
<p class="Pa10" style="text-align:justify;text-indent:14.0pt">
	<span myriad="" style="font-size:10.0pt;mso-bidi-font-family:">As the price index of 2011 is estimated as 155 for 2006=100, two groups of ‘65 per cent and more’ and ’55-65 per cent’ i.e. 79.3 per cent of continuous shareholders realized growth in real price terms. I watched the group of ‘65 per cent and more’ i.e. 75.6 per cent of the total increased their assets by 10 per cent and more in real price terms, and further from that, their average growth ratio is 308.2 per cent.</span><br />
	<br />
	<br />
	<strong><span myriad="" style="font-size:11.5pt;
mso-bidi-font-family:">Investment by their Own Assets</span><br />
	<br />
	</strong><span myriad="" style="font-size:10.0pt;mso-bidi-font-family:">In spite of neglecting investment by their own financial assets for this period, 3/4th of the total continuous shareholders realized 10 per cent and more growth in real price terms. If we consider their investments by using their own financial assets, the situation of the changes will be different. Especially, as to the ‘Less than 0 per cent’ group with 40 shareholders, their average amount of initial assets was biggest of all groups and they would have enough chance to invest. Their negative growth seems to be partially because of these investments.</span><span myriad="" style="font-size:11.5pt;
mso-bidi-font-family:"><br />
	<br />
	<br />
	</span><strong><span myriad="" style="font-size:11.5pt;
mso-bidi-font-family:">Improvement in Distribution of Assets</span><br />
	<br />
	</strong><span myriad="" style="font-size:10.0pt;mso-bidi-font-family:">The distribution of assets improved significantly as shown in Table 2 and Figure 1. I classified all the 484 continuous shareholders into three classes: the Top of 10 per cent of the total (48 shareholders), the Middle of 30 per cent (144) and the Low of 60 per cent (292). The class of ‘Top’ consists of members having largest financial assets among all. The assets accumulation of ‘Top’ decreased from 42.5 per cent in 2006 to 37.1 per cent in 2011. On the contrary, assets accumulation of ‘Low’ increased from 20.2 per cent to 27.5 per cent. </span></p>
<p class="Pa10" style="text-align:justify;text-indent:14.0pt">
	<span myriad="" style="font-size:10.0pt;mso-bidi-font-family:">I confirmed the improvement of assets accumulation by Gini coefficient as shown in Figure 1. It improved by 0.104 point from 0.576 in 2006 to 0.472 in 2011. From the view of asset equity, the above change is desirable. </span></p>
<p class="MsoNormal">
	&nbsp;<img alt="shraeholder" border="1" height="328" hspace="10" src="http://www.newbusinessage.com/ckfinder/userfiles/Images/shareholder.jpg" vspace="10" width="295" /></p>
<p class="MsoNormal">
	 </p>
<p class="Default">
	<strong><span myriad="" style="font-size:11.5pt;
mso-bidi-font-family:">Character of the study</span> </strong><br />
	 </p>
<p class="MsoNormal">
	<span myriad="" style="font-size:10.0pt;mso-bidi-font-family:">This study has the following three characteristics: Analysis of the change in financial assets belonging to individual families for five years from 2006 to 2011, Analysis using SFCL share and saving data, and Abstract of 484 ‘continuous families’ from among all shareholders.</span></p>
<p class="Pa10" style="text-align:justify;text-indent:14.0pt">
	<span myriad="" style="font-size:10.0pt;mso-bidi-font-family:">I analyzed continuous shareholders because there are big differences in amount of assets among shareholders with different passage years as shareholders of SFCL as shown in Table 3. It means that we had to exclude new beneficiaries whose involvement years are relatively shorter. In this study, I excluded shareholders with less than five years passage. </span></p>
<p class="MsoNormal">
	 </p>
<p class="Pa10" style="text-align:justify;text-indent:14.0pt">
	<span myriad="" style="font-size:10.0pt;mso-bidi-font-family:">(This survey was conducted with the cooperation of Nepal National Agricultural Cooperative Central Federation Ltd and JICA Nepal Office in February-July 2012.)</span><br />
	<br />
	<span myriad="" style="font-size:11.5pt;
mso-bidi-font-family:">Further Subjects</span><br />
	<br />
	<span myriad="" style="font-size:10.0pt;mso-bidi-font-family:">I cannot say whether we can observe same trends in the achievement of other SFCLs and rural microfinance institutions. I hope this kind of study will be conducted in the future as well and at least 2-3 institutions in each microfinance group. </span></p>
<p class="MsoNormal">
	 </p>
<p class="MsoNormal">
	<strong>&nbsp;</strong></p>
<p class="MsoNormal">
	<strong><span myriad="" style="font-size:8.0pt;line-height:115%;mso-bidi-font-family:
">Tsuboi is a Retired Professor of University of Tsukuba, Japan. He can be reached via email at <a href="mailto:tsuboin43@nifty.com">tsuboin43@nifty.com</a>.</span></strong></p>
<p class="MsoNormal">
	 </p>
<p class="MsoNormal">
	<strong><span myriad="" style="font-size:8.0pt;line-height:115%;mso-bidi-font-family:
">&nbsp;</span></strong></p>
<p class="Pa15" style="margin-top:5.0pt">
	<strong><span myriad="" style="font-size:11.5pt;
mso-bidi-font-family:">References: </span></strong></p>
<p class="Pa32" style="margin-left:14.0pt;text-align:justify;text-indent:-14.0pt">
	<strong><span myriad="" style="font-size:10.0pt;mso-bidi-font-family:">* Nara Hari Dhakal, “Impact of Microfinance Services on Poverty Reduction in Nepal”, INAFI, SAP-Nepal, 2005, p.46. </span></strong></p>
<p class="Default">
	<strong>&nbsp;</strong></p>
<p class="MsoNormal">
	<strong><span myriad="" style="font-size:10.0pt;line-height:115%;mso-bidi-font-family:
">** SFCL: Small farmer agricultural cooperative ltd. SFCL Manahari has a history of ‘small famer development </span></strong></p>
<p class="MsoNormal">
	<strong><span myriad="" style="font-size:10.0pt;line-height:115%;mso-bidi-font-family:
">programme’ of ADB/N in 1980, and it was converted to SFCL in 1998. The number of shareholders is 1,155 at July 2011.</span></strong></p>
<p class="MsoNormal">
	<strong><span myriad="" style="font-size:10.0pt;line-height:115%;mso-bidi-font-family:
">&nbsp;</span></strong></p>
<p class="MsoNormal">
	<span myriad="" style="font-size:10.0pt;line-height:115%;mso-bidi-font-family:
">&nbsp;<br />
	</span></p>
<p class="MsoNormal">
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	<span mso-bidi-font-family:="" myriad="" style="font-size:24.0pt;mso-bidi-font-size:11.0pt;
line-height:115%;font-family:">‘We have been Able to Address the Problems Faced by Nepali Traders’</span></p>
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	<span mso-bidi-font-family:="" myriad="" style="font-size:24.0pt;mso-bidi-font-size:11.0pt;
line-height:115%;font-family:">&nbsp;<img alt="viraj" border="1" height="449" hspace="10" src="http://www.newbusinessage.com/ckfinder/userfiles/Images/Viraj-Rai.jpg" vspace="10" width="300" /></span></p>
<p class="Pa1">
	<span class="A24"><span style="font-size:14.0pt">Viraj Rai </span></span><span class="A24"><span style="font-size:14.0pt;color:#221E1F">is the Line Manager of TLPL Shipping &amp; Logistics Pvt Ltd. </span></span></p>
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	<span myriad="" style="font-size:11.5pt;line-height:115%;mso-bidi-font-family:
">The company is a member of Transworld Group that has interests in wide ranging areas from shipping, ship owning, ship management, agency business and forwarding to logistics and supply chain management. To ease the export/ import business into Nepal, the company is expanding its business in Nepal by offering Thru B/L service thereby transforming the ICD of Birgunj either into a truly functional hinterland dry port of loading to ICD or into a Dry Port. Rai was in Kathmandu to participate in a trade meet organized by Nepal Foreign Trade Association. In an interview with New Business Age, Rai has emphasized on the need of transport facilities for the importers operating international trade in Nepal. Excerpts:</span></p>
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<p class="Pa23" style="margin-top:5.0pt">
	<strong><span myriad="" style="font-size:11.5pt;line-height:115%;mso-bidi-font-family:
">&nbsp;</span><span myriad="" style="font-size:10.0pt;
mso-bidi-font-family:">Could you please highlight the reason for your visit? </span></strong></p>
<p>
	<span myriad="" style="font-size:10.0pt;
mso-bidi-font-family:">The reason for visiting Nepal this time has been to organize the trade meet, a long-term demand of the Nepal trade. So, we are promoting it through BL service, whereby importers in Nepal can greatly scan by availing our single window point-to-point total logistic solution. It will facilitate picking up the cargo from the port of origin or from the factory of the supplier and move it up to ICD Birgunj and issue them one single multimodal document BL for their entire service. As a result, they end up saving huge amount of cost. In normal convention system right now, they pay for detentions or delays from Kolkata port right up to ICD Birgunj. Moreover, we take care of that by providing that service and giving delivery to them in Birgunj and any delay in between is not a cost for them as we cover that risk in our service.</span><span myriad="" style="font-size:10.0pt;
mso-bidi-font-family:"><br />
	<br />
	The whole purpose of our visit was to promote our services especially in Kathmandu. We have started this service more than a year ago. Earlier, it was introduced in Birgunj under the Birgunj Chamber of Commerce, and we wanted to fine tune and improve it further. Therefore, we have been learning, fine-tuning, and improving ourselves during this period. We have felt in recent times that we are ready to take this to the next level. That is why we felt the need to organize this trade meet and address the entire trade in Kathmandu </span></p>
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<p class="MsoNormal">
	<strong>&nbsp;</strong></p>
<p class="Pa23" style="margin-top:5.0pt">
	<strong><span myriad="" style="font-size:10.0pt;
mso-bidi-font-family:">What types of problems are the Nepalis importers facing while bringing goods from different ports through ICD Birgunj? </span></strong></p>
<p class="Pa10">
	<span myriad="" style="font-size:10.0pt;mso-bidi-font-family:">Since Nepal is a landlocked country, it is wholly dependent on nearby Kolkata ports. There are many problems put forward by Nepali importers while bringing goods from different ports. To begin with, they do not have control over the shipment period or the time and the container in sea. However, once it reaches the land, there is still uncertainty because there may be some delays at the Kolkata port in loading the container or delays in the train itself. Throughout this entire process, they have to depend on outside agencies for information flow and updates. Currently, they have to depend on shipping land to know the status when the container would reach Kolkata. They need to depend on the forwarder or the CHA to know when the container would be cleared at Kolkata port. Then they need to know when it would be loaded on wreck after which they need to follow up to know when the ship will reach Birgunj. In our service, we do away with all this. We give a single window solution and all the information flow is provided locally here at Birgunj. Therefore, this is a big solution to one of the biggest problems that Nepali trade is facing. </span></p>
<p>
	<span myriad="" style="font-size:10.0pt;
mso-bidi-font-family:">At the same time, because we are covering TLPL up to Birgunj, we have seen most of them paying huge amount of detention cost in the current conventional system. Due to this, crores of rupees is being paid to Indian shipping agents for the time taken for the containers to come from Kolkata and to go back which is normally much beyond the free time given by shipping lines. So, in our case, we cover that risk by providing service up to Birgunj so that there is further cost saving to the trade. These are two of the major problems being faced by the Nepali traders and we have been able to address it. At our level, we cannot address other problems that have been faced by the traders. It has to be done in accordance with India- Nepal treaties. However, the problems that we are addressing are within our control as it is based around shipping and land logistics. </span></p>
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<p class="Pa23" style="margin-top:5.0pt">
	<strong><span myriad="" style="font-size:10.0pt;
mso-bidi-font-family:">What were the queries from the importers during the trade meet? </span></strong></p>
<p>
	<span myriad="" style="font-size:10.0pt;
mso-bidi-font-family:">At the end of it, everybody is looking at the bottom line. Therefore, they look at ways to reduce the cost. The feedback we received from the audience is that sometimes the Kolkata port is congested. The next concern was how fast the container can be loaded for Birgunj. In the present scenario, it is not possible to give a guaranteed time. Then there is addressing of issues on a larger scale from government-to-government through transit treaty or rail service agreement between the two nations. </span> <br />
	<strong>&nbsp;</strong></p>
<p class="Pa23" style="margin-top:5.0pt">
	<strong>&nbsp;<span myriad="" style="font-size:10.0pt;
mso-bidi-font-family:">How are you going to address the problems faced by the importers and exporters?</span></strong></p>
<p class="MsoNormal">
	<strong>&nbsp;</strong><span myriad="" style="font-size:10.0pt;
mso-bidi-font-family:">One is the timely flow of information. There are also times when the traders find our rates little high so they give their business to the traditional forwarders. However, they are still in touch with us to try to get information that possibly they are not getting as accurately from their existing forwarders. Therefore, we do get calls regularly from importers in Nepal asking us to cross check on information. In the present scenario, they probably want to verify the information they are getting. In our service, the information flow will come from us directly and given to them in Nepal. They do not need to call at Kolkata as the entire single window solution will be given here in Nepal itself.<br />
	<br />
	The second one is the cost element that we see on an average. There is a huge amount of detention cost being paid because of delays between Kolkata and Birgunj and empty containers going back. In our service, the container is going to be allowed up to Birgunj after which we plan to give three days free time for local importers at Birgunj and five days for importers from Kathmandu and Pokhara. According to me, these are ample time frames for the importers to empty containers and send them back to Birgunj. Once they return the containers to Birgunj, their responsibility ends there. They have no detentions to worry about because it’s us who cover that cost element. This is a two-fold benefit and we will see how we can add further value to this entire service. Along the line, we would also look for cutting down on costs that are within our control.</span></p>
<p>
	<strong>&nbsp;</strong></p>
<p class="MsoNormal">
	<strong><span myriad="" style="font-size:10.0pt;
mso-bidi-font-family:">What are the weaknesses of Nepali exporters/importers while using your services?</span> <br />
	</strong></p>
<p class="MsoNormal">
	<span myriad="" style="font-size:10.0pt;mso-bidi-font-family:">Many traders import from China. There seems to be a miscommunication between the importer and supplier. Therefore, when we approach the supplier, we find it has not been properly informed that we are the nominated carriers. We see this mistake on flow of information to the suppliers a number of times. The other mistake is about error in documentation. There are times when the information provided to us is not accurate and we have to give back the documents to the importers. In addition, sometimes the documents sent for clearing the container at Kolkata are incomplete. These are small mistakes but they definitely lead to delays and increase the cost. Luckily, we have the provision in Indian customs to clear the cargo through copies of the documents so that it saves time while couriering the originals. With time, the number of mistakes has lowered as our customers are more aware now. With the new customers, we have to possibly educate them beforehand and see how they can avoid these mistakes.</span><strong><br />
	<br />
	</strong></p>
<p class="Pa23" style="margin-top:5.0pt">
	<strong><span myriad="" style="font-size:10.0pt;
mso-bidi-font-family:">In your opinion, how can Nepali traders become more competitive?</span></strong></p>
<p class="MsoNormal">
	<span myriad="" style="font-size:10.0pt;mso-bidi-font-family:">There is certainly a disadvantage being a landlocked country where you are dependent on ports. However, by utilizing our services, the traders would get advantage of cost which will make them competitive. In addition, if they focus on error free documentation and timely information flow, it will lead towards reduction of mistakes and eventually provide cost competitiveness to them. In today’s world when everything is online, I am sure that they can utilize the tools being offered by technology to bring down costs. We have seen in the past how Nepal has played its role in the export of garments and carpets. Therefore, there is an advantage of labor and craftsmanship somewhere along the line. If the traders can change their set mindset and accept the new technological services provided by us, it will definitely be beneficial for them.<br />
	<br />
	<br />
	</span></p>
<p class="MsoNormal">
	<strong><span myriad="" style="font-size:10.0pt;
mso-bidi-font-family:">The Nepali traders complain that they do not get information of their goods after they load it at the port to be sent to Nepal. What is your take on it?</span> <br />
	</strong></p>
<p class="MsoNormal">
	<span myriad="" style="font-size:10.0pt;mso-bidi-font-family:">Most of the customers who had the problem of not getting timely information are not particularly going by the system of traditional movement right now. This is where they have answered their own problem. We have assured them timely information and movement of the containers provided they give us the chance. Our service is the solution to their existing problems.</span></p>
<p class="MsoNormal">
	 </p>
<p class="Pa23" style="margin-top:5.0pt">
	<strong><span myriad="" style="font-size:10.0pt;
mso-bidi-font-family:">They also say that your service is a bit expensive and takes more time in comparison to other modes of transportations to Nepal. What do you say?</span></strong></p>
<p class="MsoNormal">
	<span myriad="" style="font-size:10.0pt;line-height:115%;mso-bidi-font-family:
">We have not seen any importers who have not paid detentions. In fact, most of them are paying it. They need to look at their cost and compare it. When we prepare quotations, most of the customers ask for cost breakup till Kolkata. This is not possible for us as we offer complete package solution. At the end of the day, we say that give us a chance to serve you. Our existing customers believed in us and subscriber to our idea. Moreover, those who started with us have stuck to us so far. We can always negotiate and come to an agreeable rate. Nevertheless, I can assure that in the long run, the cost benefit to the Nepali traders would be far more than what they think right now.</span></p>
<p class="MsoNormal">
	<span myriad="" style="font-size:10.0pt;line-height:115%;mso-bidi-font-family:
">&nbsp;<br />
	<br />
	<br />
	</span></p>
<p class="MsoNormal">
	<span mso-bidi-font-family:="" myriad="" style="font-size:24.0pt;mso-bidi-font-size:11.0pt;
line-height:115%;font-family:">‘A Restaurant is a Personality Driven Business’</span></p>
<p>
	<br />
	<img alt="harikarki" border="1" height="354" hspace="10" src="http://www.newbusinessage.com/ckfinder/userfiles/Images/Hari-Karki(1).jpg" vspace="10" width="257" /></p>
<p class="MsoNormal">
	<span class="A24"><span style="font-size:14.0pt">Hari Karki </span></span><span class="A24"><span style="font-size:14.0pt;color:#221E1F">is the owner of GURU, a Hong Kong based Indian Restaurant as well as a Spanish eatery. </span></span> <br />
	 </p>
<p class="MsoNormal">
	<span myriad="" style="font-size:11.5pt;line-height:115%;mso-bidi-font-family:
">He started his career as a trainee in Hotel Soaltee Oberoi in 1993. Besides Food &amp; Beverage business, he is involved with Universal Music Company. Karki, permanent resident of Hong Kong is also involved in a website business associated with Hong Kong Jockey Club (HKJC). The project is funded by HKJC and is worth 15 million Hong Kong dollars. In an interview with New Business Age, Karki divulged his plans for business expansion in Kathmandu in the near future. Excerpts:<br />
	</span></p>
<p class="MsoNormal">
	 </p>
<p class="MsoNormal">
	<strong><span myriad="" style="font-size:11.5pt;line-height:115%;mso-bidi-font-family:
">&nbsp;</span></strong></p>
<p class="Pa23" style="margin-top:5.0pt">
	<strong><span myriad="" style="font-size:10.0pt;
mso-bidi-font-family:">Would you like to kindly share some experiences regarding early days in your career?<br />
	</span></strong></p>
<p class="Pa10" style="text-indent:14.0pt">
	<span myriad="" style="font-size:10.0pt;
mso-bidi-font-family:">I started my hotel career as a trainee in Soaltee Oberoi in 1993 that lasted for nine months. Although the training was very basic, it was helpful for building the foundation of my career. After that, I joined Hotel Himalaya, which was a very important decision for my career. It provided me a strong base and I received support from many good colleagues there. That is where I learned the value of decision-making procedures. </span></p>
<p class="MsoNormal">
	<strong>&nbsp; <br />
	<span myriad="" style="font-size:10.0pt;
mso-bidi-font-family:">How was your experience working in the Food and Beverage industry abroad? <br />
	<br />
	</span></strong><span myriad="" style="font-size:10.0pt;
mso-bidi-font-family:">While working at Hotel Himalaya, I thought about pursuing higher studies. So, I went to Bahrain for management studies and afterwards, worked for a year there. Thereafter, I went to Hong Kong for holidays. That is how I landed in Hong Kong. In the meanwhile, I resigned from the Bahrain hotel I was working at. In Hong Kong, I started working at Curry Pot Restaurant as one of my friends was working there already. They were looking for manager at that time. The moment I landed there, I realized the tremendous potential that the restaurant had. I started working and within a few months, I brought about many changes within the restaurant. We were able to open three outlets of the restaurant soon. We also created a brand “Curry in a Hurry” fast food chain in Hong Kong. Later, I was given 25 per cent equity and there were 145 employees working under me.</span></p>
<p class="MsoNormal">
	<span myriad="" style="font-size:10.0pt;mso-bidi-font-family:">One important aspect of this industry is to make customers feel that we care for them and at the same time, not ready to compromise with high standards. You need to improvise on the quality of food, service, and everything else. Hong Kong is a very competitive city and there are unique ideas and people everywhere. You need to compete with them in order to capture the market.</span></p>
<p class="MsoNormal">
	<strong>&nbsp;</strong></p>
<p class="Pa23" style="margin-top:5.0pt">
	<strong><span myriad="" style="font-size:10.0pt;
mso-bidi-font-family:">Are you involved in any other business currently apart from Food and Beverages business?</span></strong></p>
<p class="MsoNormal">
	<span myriad="" style="font-size:10.0pt;line-height:115%;mso-bidi-font-family:
">Besides Food and Beverage business, I am involved with Universal Music Company. We are involved in website business associated with Hong Kong Jockey Club (HKJC). The project is funded by HKJC and is a 10 million Hong Kong dollar project with additional five million for marketing. This makes the project worth a total of Rs 15 million Hong Kong dollars. The reason for setting this website is for lottery, horse racing, football gambling etc. Since HKJC cannot directly promote gambling, they create lifestyle websites called as Fasttrack.hk to encourage youths towards such activities. It is the Asian perspective of entertainment and we promote it as an essence of lifestyle. We update our subscribers with new information regarding fashion, music, politics etc. <br />
	</span></p>
<p class="MsoNormal">
	&nbsp;Currently, I am planning to expand the Food and Beverage business. I am also working on a Brazilian concept outlet. I think this is a good idea as Brazil is hosting the 2014 Football World Cup. At that time, the craze for Brazil will be higher therefore, we are working on that aspect. I am also looking forward to invest in Kathmandu so I am trying to find right partners here to start unique ventures.</p>
<p class="MsoNormal">
	<strong><strong>&nbsp;</strong></strong></p>
<p class="Pa23" style="margin-top:5.0pt">
	<strong><span myriad="" style="font-size:10.0pt;
mso-bidi-font-family:">What are the new trends, besides food, to run restaurants successfully in today‘s age?</span></strong></p>
<p class="MsoNormal">
	<span myriad="" style="font-size:10.0pt;
mso-bidi-font-family:">I think the new trend is the people who run such businesses. Besides food, interior plays a vital role and adds soul to restaurants. It is a personality driven business. It could be the personality of the manager, waiters, or the restaurant itself. If you could put the soul of your staffs to provide service to your customers, they matter more than the expensive furniture, wines, or any other aspect of the restaurants.</span></p>
<p class="Pa10" style="text-indent:14.0pt">
	<span myriad="" style="font-size:10.0pt;
mso-bidi-font-family:">Therefore, gone are the days when the hotel employees treated the customers with mere words. These days, there is a new trend in Hong Kong where the customers and the employees of restaurants or hotels treat each other as friends. </span></p>
<p class="Pa10" style="text-indent:14.0pt">
	&nbsp;<br />
	<strong><span myriad="" style="font-size:10.0pt;
mso-bidi-font-family:">Would you like to explain about the potential cutleries that are to be used in restaurants?</span><br />
	<br />
	</strong><span myriad="" style="font-size:10.0pt;
mso-bidi-font-family:">Everybody wants to be updated these days. When anything comes to your table, it is very essential to work on details. You want to use contemporary utensils to catch up with the changing desires of the customers. Having said so, I would like to add that the look of the equipments and the cutleries should match with the theme of the restaurant. If you are running a modern restaurant, you cannot afford to place old cutleries there. Therefore, you need to update accordingly. </span></p>
<p class="MsoNormal">
	&nbsp;<strong> <br />
	</strong></p>
<p class="Pa23" style="margin-top:5.0pt">
	<strong><span myriad="" style="font-size:10.0pt;
mso-bidi-font-family:">What are the areas that Nepali hoteliers should improve upon?</span></strong></p>
<p class="MsoNormal">
	<span myriad="" style="font-size:10.0pt;
mso-bidi-font-family:">I came here a couple of years ago. The sad thing is that when I went to the same place, I found that the menu had not changed. The good part was that the people working there were the same. However, it was clear that they were not being able to keep pace with the trend. The question is not only about wanting to upgrade but whether the entrepreneurs are actually doing it in practice. However, at the end of the day, it’s the customers who decide about the change.</span></p>
<p class="MsoNormal">
	<span myriad="" style="font-size:10.0pt;
mso-bidi-font-family:">Customers visit the restaurants and hotels to feel the difference. However, if they get the same boring treatment through the services of hotels and restaurants, they would not enjoy it. Therefore, in this particular business, the first thing is to upgrade our services in a similar manner we upgrade our life itself.</span></p>
<p class="MsoNormal">
	<strong><strong>&nbsp;</strong></strong></p>
<p class="Pa23" style="margin-top:5.0pt">
	<strong><span myriad="" style="font-size:10.0pt;
mso-bidi-font-family:">It is said that the services of the five star hotels here in Nepal is equivalent to the services of three star hotels abroad. What is your comment on this comparison?</span></strong></p>
<p class="MsoNormal">
	<span myriad="" style="font-size:10.0pt;mso-bidi-font-family:">Well, I do not think that the comparison is fair. The categorization of hotels or restaurants depends on the kind of service you provide to your customers. For instance, there are many ways of providing service to your customers. Serving is an art in itself which sets you apart from others. It is an important aspect that every restaurants and hotels should understand while providing services to their clients.</span></p>
<p class="MsoNormal">
	 </p>
<p class="Pa23" style="margin-top:5.0pt">
	<strong><span myriad="" style="font-size:10.0pt;
mso-bidi-font-family:">What improvements should the service provider bring to achieve perfection in services provided to the clients? </span></strong></p>
<p class="MsoNormal">
	<strong>&nbsp;</strong><span myriad="" style="font-size:10.0pt;mso-bidi-font-family:">I think, to begin with, the trainer should get the proper training themselves. Then only, they will be able to train their staffs accordingly. When you do not update yourself, you will not come to know about new trends in the business. These days, customers seldom complain about your service. They simply stop coming to your place. If your customers complain about your services, you must take it positively and think of these customers as your well-wishers. People do not have the time to point out your weaknesses all the time so it is your responsibility to upgrade your service in accordance with the present time. Tell us something about your restaurant and the investment figures involved.</span></p>
<p class="Pa10">
	<span myriad="" style="font-size:10.0pt;mso-bidi-font-family:">The theme of my restaurant is simple and it is unique that in a very short period of time, the restaurant has created a brand of its own. There has been a breakthrough in Indian cuisine and you can find good reviews and comments about my restaurants on my website. It has been almost three-and-a-half years now. The investment in the restaurant is 2.5 million Hong Kong dollars while the annual turnover is around 4.2 million Hong Kong dollars. With an area of 1500 square feet, the seating capacity of the restaurant is 175 people. <br />
	<br />
	</span></p>
<p class="MsoNormal">
	<strong><span myriad="" style="font-size:10.0pt;
mso-bidi-font-family:">When you travel around the world, you can see many Indian restaurants, however, there are very few Nepali restaurants abroad. Is it because we lack varieties to offer in terms of our cuisine?&nbsp;&nbsp;&nbsp; </span></strong></p>
<p class="MsoNormal">
	<span myriad="" style="font-size:10.0pt;mso-bidi-font-family:">I do not agree with this observation of yours. In my opinion, you have to study the market before you start any business. For instance, if you target only Indian customers at Indian restaurants, you will fail. You have to think holistically. In Hong Kong also, Nepalis have great scope everywhere as the people of Hong Kong have tremendous respect for Nepalis. I also serve some Nepali delicacies at my restaurants. We have enough scope to serve Nepali delicacies to the customers in Hong Kong.</span>&nbsp; <br />
	 </p>
<p class="MsoNormal">
	<strong><span myriad="" style="font-size:10.0pt;
mso-bidi-font-family:">How are Nepali businesspersons doing in Hong Kong?</span> <br />
	</strong></p>
<p class="Pa10">
	<span myriad="" style="font-size:10.0pt;mso-bidi-font-family:">The involvement of Nepalis in Food and Beverage business is remarkable. They have left even the westerners behind, in this respect. Let me give you one example. Few months ago, two young Nepali men opened two new outlets called Escape and China Bar with an investment of 16 million Hong Kong dollars. They are doing fabulous business In terms of other businesses, Nepalis are involved in import/export, construction, travel agency etc. I must say they are doing well for themselves in Hong Kong. </span></p>
<p class="MsoNormal">
	 </p>
<p class="Pa23" style="margin-top:5.0pt">
	<strong><span myriad="" style="font-size:10.0pt;
mso-bidi-font-family:">Are you associated with the NRN Association? Are there any NRN businesspersons who are doing business here? </span></strong></p>
<p class="MsoNormal">
	<span myriad="" style="font-size:10.0pt;line-height:115%;mso-bidi-font-family:
">I am a member of the association, however, I am not actively involved in it. As an idea, it is good. However, I do not see where they are heading. It all depends on who is leading the association. There are many NRNs doing business here. Some are involved in banking, travel agencies, trading, and others. I think that everyone has to work on their strong aspect, start from scratch and then dream big. If I have to start a business here, I will have to learn the basics about the market. That is the reason why I am looking forward to appropriate partners here in Nepal. I would need at least six months to study the market locally.</span></p>
<p class="MsoNormal">
	<span myriad="" style="font-size:10.0pt;line-height:115%;mso-bidi-font-family:
">&nbsp;</span></p>
<p class="MsoNormal">
	<span myriad="" style="font-size:10.0pt;line-height:115%;mso-bidi-font-family:
">&nbsp;</span></p>
<p class="MsoNormal">
	<span mso-bidi-font-family:="" myriad="" style="font-size:24.0pt;mso-bidi-font-size:11.0pt;
line-height:115%;font-family:">‘We See a Huge Yet-to-be-Tapped Market for BUSY in Nepal’</span></p>
<p class="MsoNormal">
	<span mso-bidi-font-family:="" myriad="" style="font-size:24.0pt;mso-bidi-font-size:11.0pt;
line-height:115%;font-family:">&nbsp;<br />
	<img alt="pankaj" border="1" height="408" hspace="10" src="http://www.newbusinessage.com/ckfinder/userfiles/Images/Pankaj-Kumar-Roy.jpg" vspace="10" width="331" /><br />
	</span></p>
<p class="MsoNormal">
	<span class="A24"><span style="font-size:14.0pt">Pankaj Kumar Roy </span></span><span myriad="" style="font-size:11.5pt;line-height:115%;mso-bidi-font-family:
"><span style="font-size:14.0pt;color:#221E1F">is Business Development Manager at Busy Accounting Software, one of the popular accounting and inventory management software for MSMEs in India.&nbsp; </span></span><br />
	<span myriad="" style="font-size:11.5pt;line-height:115%;mso-bidi-font-family:
">&nbsp;</span></p>
<p class="MsoNormal">
	<span myriad="" style="font-size:11.5pt;line-height:115%;mso-bidi-font-family:
">The company has currently over half-a-million users in over 20 countries. BUSY 12 is the software that the company has introduced lately. Roy visited Kathmandu recently for the expansion of his software business in Nepal. In an interview with New Business Age, he talked about the importance of accounting software in Nepal’s business sector. Excerpts:</span></p>
<p class="MsoNormal">
	<strong><strong>&nbsp;</strong></strong></p>
<p class="Pa23" style="margin-top:5.0pt">
	<strong><span myriad="" style="font-size:10.0pt;
mso-bidi-font-family:">What is the purpose of your visit to Nepal this time?</span></strong></p>
<p class="MsoNormal">
	<span myriad="" style="font-size:10.0pt;
mso-bidi-font-family:">This time, we came here for the promotion of our new software BUSY 12. We are providing technical support to busy users as well as providing training to channel partners on BUSY 12 – our latest version for BUSY range of accounting software.</span></p>
<p class="MsoNormal">
	<strong><span myriad="" style="font-size:10.0pt;
mso-bidi-font-family:"><br />
	What are the major features of your software products?</span><br />
	<br />
	</strong><span myriad="" style="font-size:10.0pt;
mso-bidi-font-family:">BUSY is an accounting and inventory management software. The salient features of BUSY are: Financial Accounting, Inventory Management, Statutory Reports, Invoicing, Production, Bill of Material, Multi- Location management, checks and controls, MIS and many more.</span></p>
<p class="MsoNormal">
	<strong><strong>&nbsp;</strong></strong></p>
<p class="Pa23" style="margin-top:5.0pt">
	<strong><span myriad="" style="font-size:10.0pt;
mso-bidi-font-family:">Please tell us something about your software BUSY 12. Who are the target groups for this product?</span></strong></p>
<p class="MsoNormal">
	<span myriad="" style="font-size:10.0pt;
mso-bidi-font-family:">BUSY 12 is an accounting and inventory software with a host of new features and enhanced functionalities including sales/purchase quotation, customizable reports, data access through SMS/e-mail, auto back-up of data and provision for voucher audit etc. It’s an ERP for SMEs which allows businesses to manage their accounting, inventory, invoicing, and statutory requirements. It also offers a feature that would help the user in securing their data against theft and misuse, thus maintaining a better control mechanism. It also enables users in preparing sales or purchase quotation. All businesses which require software to manage their business are our target customers. Hence, all SMEs and in fact the corporate houses also, can benefit from BUSY 12.</span></p>
<p class="MsoNormal">
	<strong><strong>&nbsp;</strong></strong></p>
<p class="MsoNormal">
	<strong><span myriad="" style="font-size:10.0pt;
mso-bidi-font-family:">How are you promoting your business in Nepal?</span> <br />
	</strong></p>
<p class="Pa10">
	<span myriad="" style="font-size:10.0pt;mso-bidi-font-family:">We sell our software through the channel partners in Nepal. Currently, we have three channel partners in Kathmandu and multiple resellers working for these channel partners. As an organization, we put big emphasis on customer satisfaction so we plan regular visits to our customers to resolve their issues. We regularly participate in leading exhibitions in Nepal and organize seminars and workshops also. Moreover, we take regular feedback from our partners and customers to incorporate features specific to businesses requirements in Nepal.</span></p>
<p class="MsoNormal">
	<strong><strong>&nbsp;</strong></strong></p>
<p class="Pa23" style="margin-top:5.0pt">
	<strong><span myriad="" style="font-size:10.0pt;
mso-bidi-font-family:">What are your plans to attract more number of people using your services?</span></strong></p>
<p class="Pa10">
	<span myriad="" style="font-size:10.0pt;mso-bidi-font-family:">As I mentioned earlier, customer satisfaction is our motto. We believe in a theory that ‘one happy customer refers you to ten more,’ so we are striving hard to make our customer feel happiest which we believe will boost our business. We have plans to organize meetings, workshops and seminars regularly to train and educate people on BUSY. Moreover, we would be participating in leading exhibitions and advertising in leading newspapers too. </span></p>
<p class="MsoNormal">
	 </p>
<p class="Pa23" style="margin-top:5.0pt">
	<strong><span myriad="" style="font-size:10.0pt;
mso-bidi-font-family:">How can Nepali Industries benefit from your products?</span></strong></p>
<p class="Pa10">
	<span myriad="" style="font-size:10.0pt;mso-bidi-font-family:">We have so many excellent features in BUSY which simplify the businesses of Nepali SMEs. For example, we provide Nepal VAT reports, Nepali date, computerised billing, checks and controls, multi-branch management etc including other features which have been beneficial for Nepali businesses. </span></p>
<p class="MsoNormal">
	<br />
	&nbsp;<strong><span myriad="" style="font-size:10.0pt;
mso-bidi-font-family:">What is your assessment of the market demand for your software?</span> <br />
	</strong></p>
<p class="MsoNormal">
	<span myriad="" style="font-size:10.0pt;line-height:115%;mso-bidi-font-family:
">We see a huge yet-to-be-tapped market for BUSY in Nepal. Our software caters to almost every industry – retailers, traders, distributors, discreet manufacturers and corporate entities. However, most of the businesses here are either not using any software or are using out-dated software to manage their accounting and inventory needs. Therefore, we feel that we are in the right position to capture a big market share in the next two to five years.</span></p>
<p class="MsoNormal">
	<span myriad="" style="font-size:10.0pt;line-height:115%;mso-bidi-font-family:
">&nbsp;</span></p>
<p class="MsoNormal">
	<span myriad="" style="font-size:10.0pt;line-height:115%;mso-bidi-font-family:
">&nbsp;</span></p>
<p class="MsoNormal">
	<span myriad="" style="font-size:10.0pt;line-height:115%;mso-bidi-font-family:
">&nbsp;</span></p>
<p class="MsoNormal">
	<span mso-bidi-font-family:="" myriad="" style="font-size:24.0pt;mso-bidi-font-size:11.0pt;
line-height:115%;font-family:">‘We Help Nepali Counterparts to meet IT Product Needs’<br />
	<br />
	</span></p>
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	<span mso-bidi-font-family:="" myriad="" style="font-size:24.0pt;mso-bidi-font-size:11.0pt;
line-height:115%;font-family:">&nbsp;<img alt="alexandar" border="1" height="385" hspace="10" src="http://www.newbusinessage.com/ckfinder/userfiles/Images/Alexander-Oddoz-Mazet.jpg" vspace="10" width="263" /><br />
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<p class="Pa1">
	<span class="A24"><span style="font-size:14.0pt">Alexander Oddoz-Mazet </span></span><span class="A24"><span style="font-size:14.0pt;
color:#221E1F">is the Director – Asia Pacific Region of Microsoft Operations Pte Ltd. </span></span></p>
<p class="MsoNormal">
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	&nbsp;<span myriad="" style="font-size:11.5pt;line-height:115%;mso-bidi-font-family:
">Founded in 1975, Microsoft is the worldwide leader in software, services and solutions that help people and business realize their full potential. Through its regional office in Bangladesh, it has been marketing and promoting Microsoft products and solutions in territories of Bangladesh, Nepal and Bhutan. Microsoft has been present in Nepal since 2007. Oddoz-Mazet was in Kathmandu to attend a business event titled “Maximizing Business Productivity – Leveraging Microsoft Technologies”. In an interview with New Business Age, he talked about Microsoft’s business productivity solutions among other issue. Excerpts:</span></p>
<p class="MsoNormal">
	<strong><span myriad="" style="font-size:11.5pt;line-height:115%;mso-bidi-font-family:
">&nbsp;</span></strong></p>
<p class="Pa23" style="margin-top:5.0pt">
	<strong><span myriad="" style="font-size:10.0pt;
mso-bidi-font-family:">With business productivity being high on most organizations’ priority list, what does Microsoft offer in specific to the Nepal market?</span></strong></p>
<p>
	<span myriad="" style="font-size:10.0pt;
mso-bidi-font-family:">We are developing a new scenario that helps people to work together as a team and as an organization. Communication is one of the key scenarios so people need to do it more effectively while collaboration is also one of the scenarios that we need to work at more effectively. At Microsoft, we now have a few technological solutions that can help to achieve that. One of them is Unified Communications which is a way to reduce complexity by putting people at the centre of the communications experience. The goal is to integrate all of the ways we contact each other in a single environment using a single identity and presence. It provides businesses in Nepal with the power to choose how they provision services whether on their own premises, as cloud services, or in a hybrid fashion. </span></p>
<p class="Pa10" style="text-indent:14.0pt">
	<strong><span myriad="" style="font-size:10.0pt;
mso-bidi-font-family:"><br />
	How significant is Unified Communications from Microsoft’s perspective?</span></strong><span myriad="" style="font-size:10.0pt;mso-bidi-font-family:"><br />
	<br />
	It is very important indeed. With Unified Communications, we bring instant messaging, web, email, calendar, SMS etc together into one platform which makes it very easy for information technology (IT) divisions at organizations to manage a lot of things and make them very cost effective. It is a one-stop solution to everything. For themes, it has one-user interface that enables organizations to perform all types of communication. It has made it easy to drive a new way for all activities, to use different tools. With the Unified Solution powered by Microsoft, the users are free from the hassle of using different access, passwords and methods to use it. We provide a new communication solution not only to connect internally but also to the outside world.<br />
	<br />
	Please share the key capabilities of these solutions that you have mentioned in your presentation In not only Nepal, but also in countries around South East Asia like Korea, Thailand, Vietnam, Cambodia, we found that people create word document, PowerPoint presentations, picture, videos and store them in their personal computers (PCs). This is not a very effective option. If we want to work as a team and want to access those documents, it is not possible if they are stored in the individual PCs only. With SharePoint, you build an internet site within your company where only the employees of your company and trusted partners can have access to the information. SharePoint is one of the fastest growing products in business because people realise that they need to share the documents and work together as a team. Therefore, having the documents in a central location, which is easily searchable and accessible to people, can work effectively. We see the government officials and businesspersons using SharePoint to a large extent.<br />
	<br />
	Sometimes, it takes a while for a new technology to develop inside an organization. However, when the professionals inside an organization get along with the technology over time, they can adopt it to manage overall technology on their own. The fundamental capability of the software is to make people more productive. It makes a country more competitive in the world market. In Nepal, most of the talent goes outside the country in search of better opportunities. Our technology, adopted by organizations, can keep the intelligent people within the country which, in turn, helps the economy. There are lot of functionalities but at the core, Microsoft software is helping economies prosper and become more competitive at the world stage. With the integrated value of SharePoint, Link, Exchange, and Office into one platform, it makes the employees and teams to use the software more effectively.</span>&nbsp; <strong><span myriad="" style="font-size:10.0pt;
mso-bidi-font-family:"><br />
	</span></strong></p>
<p class="Pa10" style="text-indent:14.0pt">
	<strong><span myriad="" style="font-size:10.0pt;
mso-bidi-font-family:"><br />
	What can companies do to understand Microsoft and business productivity solutions better?</span></strong><span myriad="" style="font-size:10.0pt;
mso-bidi-font-family:"><br />
	<br />
	One of the challenges we see is the people cannot properly understand what business productivity solutions can do for their business. In order to facilitate their understanding, we can show some works on PowerPoint presentation to them and also perform a demo if required. However, the best way to understand any product is to experience it. The analogy that I present many times to make my point is that you do not buy a car looking at its website. You take a decision by doing a test drive.</span><br />
	<br />
	<span myriad="" style="font-size:10.0pt;
mso-bidi-font-family:">Our partners have invested in a facility called “Customer Emersion Experience” in which we bring business people and IT professionals together. Once they enter our facility, we place laptops in front of them and make them test drive Microsoft Productivity business solutions for the next two-three hours. This is the best way to make people understand the value of our platform. We then drive a communication between the IT professionals and business people on ways to enable software in an organization and the value that the business can get. The other way is that we are talking with some of the companies to deploy our technology on a small scale, to begin with. However, the cost effective way is to utilize our “Customer Emersion Experience” scheme. </span></p>
<p class="Pa10" style="text-indent:14.0pt">
	<strong><span myriad="" style="font-size:10.0pt;
mso-bidi-font-family:">&nbsp;<br />
	What makes you believe you are better than the competition?</span></strong></p>
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	<strong>&nbsp;</strong>We have a lot of competitors in the market and needless to say, all of them have very niche products. For Microsoft Unified Communications, we compete with people who deal with voice mail system, web conferencing solution and telephonic solution. The way we think about it is to have an integrated approach with the platform. The other is to deliver all those services that are being delivered by independent vendors. We provide ways for a company not to have many relationships with vendors. It’s because we provide vendor consolidations to them.</p>
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	<strong><span myriad="" style="font-size:10.0pt;
mso-bidi-font-family:"><br />
	How can business houses in Nepal benefit from this technology?</span></strong></p>
<p class="MsoNormal">
	<span myriad="" style="font-size:10.0pt;
mso-bidi-font-family:">Our software will help the user nations to save money on telecommunication. Nepal is a country with a lot of remote areas where people are seeking access to information. Unified communications can help them to deliver more value to the employees, customers, public servants and the citizens of the country. Many government agencies around the world are adopting this technology for better connection with citizens who need access to information. The software called SharePoint enables sharing of information and documents with people internally and the outside world.</span></p>
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	<span myriad="" style="font-size:10.0pt;line-height:115%;mso-bidi-font-family:
">We help the IT departments in Nepal to provide one platform that can address all the different productivity needs. Therefore, it reduces their cost of having multiple vendor relationship and different solutions from different vendors. In addition, the IT department can have expertise around a single platform. Whereas, on the business side, people’s familiarity with applications like Word, <br />
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<p class="MsoNormal">
	<span style="font-size:16px;"><span style="line-height: 115%;"><img alt="remit" border="1" height="284" hspace="10" src="http://www.newbusinessage.com/ckfinder/userfiles/Images/remittance.jpg" vspace="10" width="449" /><br />
	<br />
	<br />
	Income received as the Nepali workers’ remittances working abroad has become an automatic instrument for poverty reduction in Nepal. Remittance has been recognised as a key to solve various economic ills afflicting the country. Moreover, it has raised some obvious questions. For instance, long the national economy can solely depend on the source of remittance to sustain itself? Is it possible to use the remitted money to improve social livelihood of the Nepali people or, can it be used in more productive sector? Can our policymakers think beyond the box of remittance economy?</span></span></p>
<p class="MsoNormal">
	<span style="font-size:16px;"><span style="line-height: 115%;">&nbsp;</span></span></p>
<p class="MsoNormal">
	<span style="font-size:10.0pt;line-height:115%">55 New Business Age | September 2012</span></p>
<p class="MsoNormal">
	<span style="font-size:10.0pt;line-height:115%">&nbsp;<br />
	<br />
	<img alt="coverstory" border="1" height="339" hspace="5" src="http://www.newbusinessage.com/ckfinder/userfiles/Images/coverstory_1.jpg" vspace="5" width="300" /><br />
	</span></p>
<p class="MsoNormal">
	<span class="A8"><span myriad="" style="font-size:24.0pt;line-height:
115%;font-family:">COVER STORY</span></span></p>
<p class="Pa9" style="text-align:justify">
	<span class="A13"><span style="font-size:
59.0pt;color:windowtext">T</span></span><span myriad="" style="font-size:10.0pt;
mso-bidi-font-family:">he total households receiving remittances in Nepal stood at 55.8 per cent in the year 2010-11 as revealed by the findings of Nepal Living Standards Survey (NLSS)- III released by the Central Bureau of Statistics (CBS). This is a sharp rise from the year 2003-04 when only 31.9 per cent households in Nepal received remittances. Another remarkable statistic in the report was the 18 per cent decline in absolute poverty in the six years between 2003-04 and 2009- 10. According to the report, only 13 per cent Nepalis now remain below the absolute poverty line (the benchmark being 2,200-calorie intake per day per person). Nepal ranks sixth among the countries in terms of Remittances-to- GDP ratio as stated in the World Bank Report-2011. It rose from Rs 47.5 billion in 2001-02 to Rs 231.73 billion in 2009- 10. Remittances-to-GDP ratio almost doubled from 10.3 per cent in 2001-02 to 19.6 per cent in 2009-10. Economists estimate that this figure will rise to 20 per cent in 2012-2014. <br />
	</span></p>
<p class="Pa10" style="text-align:justify">
	<span myriad="" style="font-size:10.0pt;
mso-bidi-font-family:">It is estimated that approximately 2.2 million Nepalis are working as migrant workers in various countries. Nearly 90 per cent of migrant workers have found employment in Qatar, Malaysia, Saudi Arabia, the UAE, and Kuwait. Among them, 10 per cent of migrant labors are female. According to Bal Bahadur Tamang, the President of Foreign Employment Association of Nepal, the growing construction business in the Gulf countries has created a demand for large number of Nepali workers. “Qatar is hosting a showpiece World Cup Football tournament in 2022 and therefore, the amount of construction work happening there has increased the demand of Nepali workers substantially,” informed Tamang. <br />
	<br />
	Increasing remittance flow has emerged as a favored poverty alleviation strategy in developing countries, particularly in Nepal. Policymakers believe that the financial contribution from migrant workers has provided impetus to development activities. They also opine that the scope of such revenue should be further enhanced. Nara Bahadur Thapa, Chief Manager of Nepal Rastra Bank at Biratnagar said, “The robust relationship between the growth in remittance and the reduction in poverty has evolved on account of a significant growth in the number of rural poor people seeking jobs in the Gulf countries.” </span></p>
<p class="Pa10" style="text-align:justify">
	<span myriad="" style="font-size:10.0pt;
mso-bidi-font-family:">“Annually, Nepal is receiving Rs 200 billion as remittance,” shared Dr Ganesh Gurung, a Remittance Economist. Based on the data of the Department of Foreign Employment, 1,500 people leave the country for foreign employment every day on an average as of August 2011. Quite naturally, the country has also been receiving proportional amount of remittances from these migrant workers employed abroad. From mid-July to mid-August 2011, the number of Nepalis going abroad for jobs was 45,165. This heavy reliance on foreign employment has shifted the Nepali economy from an agriculture-based economy towards a remittance-based one. </span></p>
<p class="MsoNormal">
	<span myriad="" style="font-size:10.0pt;line-height:115%;mso-bidi-font-family:
">The NLSS, 2010-11 reported that the common Nepalis’ access to basic facilities has improved over the years. Despite political upheavals and unrest, the average household income of Nepalis has increased by more than four-fold to Rs 202,374 over the span of 15 years due to increased receipt of remittances. Thapa shared that the remittance thus received is widely spent on daily consumption, followed by loan repayment and household property instead of capital formation. A Nepal Rastra Bank (NRB) report says that 78.9 per cent of the remittance is used on daily consumption, whereas 7.1 per cent of the remittance is used to repay loans followed by 4.5 per cent on household property, 3.5 per cent on education and only a minimal 2.4 per cent is used for capital formation. According to Dr Gurung, the increased remittance per household has not only increased consumption pattern but changed the social structure too. The nominal per capita consumption expenditure in aggregate increased from Rs 15,848 in 2003-04 to Rs 34,829 in 2010, at an annual average growth rate of 14 per cent. The survey also identified urban hills (9 per cent) and Kathmandu (11 per cent) having the least poor population while the highest population identified as poor live in the mountains (42 per cent) and rural hills in the Mid and Far-West regions (37 per cent).</span></p>
<p class="MsoNormal">
	<span myriad="" style="font-size:10.0pt;line-height:115%;mso-bidi-font-family:
">According to Tamang, a significant chunk of the money received via remittance is being spent on imports and real estate instead of it being invested in productive sectors. The main challenge does not lie in receiving remittance but in channelizing it into productive use. Therefore, remittance should be included in the national development agenda to monitor its use. Though the government has given permission to manpower agencies to open foreign currency account in Nepali commercial banks, the government’s responsibility does not end here. Apart from monitoring and facilitating the use of this income, the government should encourage migrants to hold their income in financial assets within the country rather than abroad.</span></p>
<p class="MsoNormal">
	<span myriad="" style="font-size:10.0pt;line-height:115%;mso-bidi-font-family:
">“Income received from remittance source has become an automatic instrument for poverty reduction in Nepal as both the government and the private sector have failed to create adequate number of jobs,” said Thapa. If we compare the domestic savings-to- GDP ratio, which is currently around 10 per cent, and national savings-to- GDP ratio standing at 36.7 per cent, the difference is largely due to remittance. Against the national savings-to-GDP ratio at 36.7 per cent, the total fixed investment-to-GDP ratio is 19.6 per cent, reflecting the failure of Nepali society to make productive use of remittance driven national savings. As of mid-June 2012, foreign exchange stood at Rs 427 billion, sufficient <span style="mso-spacerun:yes">&nbsp;</span>nough to <span style="mso-spacerun:yes">&nbsp;</span>cover merchandise and services import of around 10 months. This reflects two things. First, remittance is an important source of foreign exchange earnings, underpinning macroeconomic stability of Nepal. <br />
	</span></p>
<p class="MsoNormal">
	<span myriad="" style="font-size:10.0pt;line-height:115%;mso-bidi-font-family:
">Second, the magnitude of foreign exchange indicates that both the government and the private sector have failed to make productive use of foreign exchange accumulated from remittance. Gurung opines that there is no question of utilising remittance for income generating activities for families living below the poverty line. In their case, remittance will take care of consumption. However, the families managing to save out of remittance can be encouraged to invest in income generating activities that could be an issue of micro management of remittance. Similarly, families engaged in agricultural activities and receiving remittance in excess of their consumption requirements should be encouraged to invest in high yielding crops and animal husbandry. This will help boost the agricultural production and consequently, their incomes. <br />
	</span></p>
<p class="MsoNormal">
	<span myriad="" style="font-size:10.0pt;line-height:115%;mso-bidi-font-family:
">On the other hand, families residing in urban and semi-urban areas should be encouraged to invest in small services such as tailoring, taxi driving and undertaking petty businesses. For this to happen, the government can help establish multipurpose urban cooperatives. Lila Prasad Sitaula, Executive Director at Foreign Exchange Management Department of Nepal Rastra Bank, said, “The government, together with the NRB has introduced few important policies to utilize remittance productively. One of those is the issuance of remittance bond targeting migrant workers. Along with it, the NRB is formulating a policy to encourage banks and financial institutions for opening up branches in the rural areas, thus, bringing money in the banking system and channelize it in the productive sector. Furthermore, some provisions have been made to allow remittance companies to manage their forex balance in a more profitable manner, added Sitaula.</span></p>
<p class="MsoNormal">
	<span myriad="" style="font-size:10.0pt;line-height:115%;mso-bidi-font-family:
">The government also started issuing foreign employment bond for mobilizing funds and making productive use of remittance since 2009-10 but so far, it has failed to gain popularity among the Nepali migrant workers abroad. According to Chandra Dhakal, Chairman of Nepal Remitters’ Association, remittance is the major factor in improving Nepal’s position in Human Development Index and improving poverty level. Remittance has played a major role in improving livelihood of millions of Nepalis. It has helped people have better access to health, education and sanitation. Dhakal added that the time has come to think about the productive investment of remittance for economic development of the country because capital has been a major constraint. <br style="mso-special-character:line-break" />
	<br style="mso-special-character:line-break" />
	</span></p>
<p class="MsoNormal">
	<span myriad="" style="font-size:10.0pt;line-height:115%;mso-bidi-font-family:
">&nbsp;The Monetary Policy of 2012-13 has encouraged and facilitated those companies wishing to establish remittance business in various regions and countries. “We have realized the need for further expanding money transfer agencies to the countries where the supply of remitting service is few or not in existence,” shared Sitaula. Additionally, necessary bylaws have been introduced governing money transfer business activities. The government should prepare proper plans and policies in order to encourage the migrant workers to use formal channels instead of using illegal channels like ‘hundi’. Besides, the government should support the recruitment agencies in receiving recruitment charges, visa charges etc through proper banking channels which should automatically reduce the use of illegal banking channels.</span><span myriad="" style="font-size:10.0pt;mso-bidi-font-family:"><br />
	<br />
	International Money Express (IME) was the first Nepali financial institution starting its services to control the flow of remittance through banking channel twelve years ago. And since the last few years, commercial banks through their representatives and agents have also been involving in money remitting business. As per a recent report of central bank, the total remittance for the first 11 month of FY 2011-12 stood at Rs 320.38 billion showing a growth of 39.6 per cent compared to a growth of 10.1 per cent during the corresponding period of the previous year. Dhakal said, “Though we don’t have any data related to remittance coming through remittance companies, we can estimate that more than 70 per cent of it is channeled through remittance companies.” According to him, remittance companies are doing their best in increasing their network and enhancing their service to bring more remittances through formal channels. The central bank and the government should cooperate and facilitate remittance companies in this noble endeavor, he said.</span> <span myriad="" style="font-size:10.0pt;mso-bidi-font-family:"><br />
	<br />
	“Commercial banks are coming into this business and making it more competitive, however, there is a huge misunderstanding in the scope of work for remittance companies and commercial,” said Dhakal. The present policies have been formulated on the assumption that remittance companies will bring the foreign currency and sell it to commercial banks so that both will be benefited. It is an irony that remittance companies are compelled to sell foreign currency to commercial banks, with whom they are competing at source. Since there is huge disparity in facilities available to remittance companies and commercial banks in terms of foreign currency, the central bank needs to review its policy to ensure sustainability of remittance companies, which are playing an instrumental role in Nepal’s inward remittance. On the other hand, the comfortable reserve position in the country leads to sufficient liquidity in the banking system that is being channelized into productive sectors. Moreover, the increase of foreign exchange reserves allows moving towards gradual liberalization of foreign exchange market.</span></p>
<p class="MsoNormal">
	<span myriad="" style="font-size:10.0pt;
mso-bidi-font-family:">“Preserving the value of foreign exchange is the main concern of the NRB,” said Sitaula. According to him, the central bank has been managing its foreign currency assets keeping it in major international currencies and different asset portfolios in accordance with the principle of portfolio diversification and minimizing currency risk. “A chunk of reserves is invested in highly liquid securities especially sovereign bonds and rest is placed with foreign central banks, BIS and different highly rated foreign commercial banks based on the ratings of international rating agencies such as Standard &amp; Poor’s and Moody’s,” shared Sitaula. While safety and liquidity constitute the main objectives of reserve management in Nepal, return optimization becomes an embedded strategy within this framework, he added.</span></p>
<p class="MsoNormal">
	<span myriad="" style="font-size:10.0pt;
mso-bidi-font-family:">Remittance increases foreign currency availability in the domestic market and raises national savings. Availability of foreign currency, in turn, facilitates financing of essential import and can avert possible balance of payments (BoP) crisis. Despite the rising trade deficit, Nepal witnessed a record current account as well as BoP surplus in the last year because of substantial flow of remittances. Had remittance flows stagnated last year, Nepal would have witnessed deficit in the current account and lesser BoP surplus, said Sitaula. Remittances alone can finance about 90 percent of merchandise trade deficit of the country.</span></p>
<p class="MsoNormal">
	<span myriad="" style="font-size:10.0pt;
mso-bidi-font-family:">These facts reveal a crucial role remittances play in attaining macroeconomic stability in the country. Though increasing remittance has its own advantages, it is also true that over dependency on it in the end will eventually lead to economic failure if the flow of remittance is disrupted. “Of course, nothing would be better than bringing development projects with sufficient funding to utilize the labor force in Nepal itself. For this, the long-term focus ought to be the development of entrepreneurial capabilities of the Nepalis so that remittances could be turned into productive investment that brings higher growth and employment generation,” said Gurung.</span></p>
<p class="MsoNormal">
	<span myriad="" style="font-size:10.0pt;line-height:115%;mso-bidi-font-family:
">However, having said that, remittance has been the only hope in recent times to rescue the faltering economy from the low-level equilibrium trap when the implementation of capital expenditure programme is likely to go on a wild goose chase. Remittance has been imperative for survival, poverty reduction, and eliminating impoverished condition of life in the country. At the same time, the government has to resolve these problems, as remittance is one of the growing and most crucial sectors of the economy.</span></p>
<p class="MsoNormal">
	<span myriad="" style="font-size:10.0pt;line-height:115%;mso-bidi-font-family:
">&nbsp;</span></p>
<p class="MsoNormal">
	<span myriad="" style="font-size:10.0pt;line-height:115%;mso-bidi-font-family:
">&nbsp;</span></p>
<p class="Pa1">
	<span class="A8"><span style="font-size:24.0pt;color:windowtext">COVER STORY</span></span></p>
<p class="MsoNormal">
	<span myriad="" style="font-size:10.0pt;line-height:115%;mso-bidi-font-family:
">&nbsp;</span></p>
<p class="MsoNormal">
	<span class="A49"><span myriad="" style="font-size:23.0pt;line-height:
115%;font-family:">‘Remittances can have Long-term Impact if Channeled into Productive Investment’<br />
	<br />
	<br />
	<img alt="ganesh gurung" border="1" height="313" hspace="5" src="http://www.newbusinessage.com/ckfinder/userfiles/Images/ganesh-gurung.jpg" vspace="5" width="300" /><br />
	</span></span></p>
<p class="Pa1">
	<span style="font-size:16px;"><span class="A5"><span style="color: windowtext;">DR GANESH GURUNG </span></span></span></p>
<p class="MsoNormal">
	<span style="font-size:16px;"><span class="A5"><span color:="" style="line-height: 115%; font-family: ">&nbsp;Remittance Economist</span></span></span></p>
<p class="MsoNormal">
	<strong><span style="font-size:16px;"><strong>&nbsp;</strong><br />
	&nbsp;</span></strong></p>
<p class="Pa23" style="margin-top:5.0pt;text-align:justify">
	<strong><span myriad="" style="font-size:10.0pt;mso-bidi-font-family:">How do you view the contribution of remittance to the reduction of poverty in Nepal?</span></strong></p>
<p class="Pa10" style="text-align:justify">
	<span myriad="" style="font-size:10.0pt;
mso-bidi-font-family:">This, in fact, is an interesting aspect. The post conflict political situation has not witnessed major economic growth and hence unemployment and underemployment is an ever growing phenomenon. The political unrest decelerated the pace of industrial expansion and halted plenty of small and medium enterprises all over the country creating unemployment throughout the country. In that situation, a huge number of migrant workers amplified the number because of which, foreign employment became an emerging business in Nepal’s context. </span></p>
<p class="Pa10" style="text-align:justify">
	<span myriad="" style="font-size:10.0pt;
mso-bidi-font-family:">In my opinion, remittance has played a vital role in poverty reduction. Various reports and planning documents published in recent times have attributed the dramatic fall in absolute poverty to the inflow of remittances in Nepal. The percentage of all households receiving remittances in Nepal during the year 2010/11 was 55.8 per cent. This is a sharp rise from the year 2003/04 when it stood at 31.9 per cent. There has been an 18 per cent decline in absolute poverty in the six years between 2003/04 and 2009/10. Therefore, according to me, foreign employment is a major economic phenomenon in Nepal and its relation to the economic growth of the country is integral. </span></p>
<p class="MsoNormal">
	 </p>
<p class="Pa23" style="margin-top:5.0pt;text-align:justify">
	<strong><span myriad="" style="font-size:10.0pt;mso-bidi-font-family:">What is the trend of use of remittance in Nepal in general households? What is the ratio of its use in productive and unproductive sectors? How do you analyze such trends? </span></strong></p>
<p class="Pa10" style="text-align:justify;text-indent:14.0pt">
	<span myriad="" style="font-size:10.0pt;mso-bidi-font-family:">I believe that there are also some long-term opportunities brought about by foreign employment. Children of the foreign employment workers are getting quality education paid for by the remittances from their parents. The nation can benefit in the long term out of this trend as skilled and educated manpower is produced for the economy.<br />
	<br />
	The remittance sent by the migrant workers can be used to further generate wealth in the country. Besides spending on consumption, it has to be invested in productive sectors, which would bring about some positive change on the major macroeconomic variables of the country. Remittances can produce long term impact only if it is channeled into productive investment. Going by the current trends of consumption in Nepal, if the remittances are soaked up by consumption only and are not turned into investments, the short term boost provided by it in the economy will not be sustainable. Productivity will decline and the economic choices get tougher if the situation is not addressed in time and is stalled being shortly content with the remittance-based income. More remittance money is spent on consumption than in any other aspects. Only 2.4 per cent of remittance money is spent for capital formation in our country.</span> <span myriad="" style="font-size:10.0pt;mso-bidi-font-family:"><br />
	<br />
	Due to increase in revenues from remittances, the currency of a country becomes stronger compared to that of other nations resulting in exports becoming more expensive for other countries to buy. This can make the manufacturing sector less competitive. Thus, with the increase in the purchasing capacity of households receiving remittance, there is high demand of consumption and imported goods. There has been an appreciation of real exchange rate due to rise in the price of non-tradable with respect to tradable. Furthermore, there has been an erosion of manufacturing sector entailing to their reduced competitiveness. </span></p>
<p class="MsoNormal">
	 </p>
<p class="MsoNormal">
	 </p>
<p class="MsoNormal">
	<strong><span myriad="" style="font-size:10.0pt;mso-bidi-font-family:">How do you compare the remittance figures between today and five years ago?</span></strong></p>
<p class="Pa10" style="text-align:justify;text-indent:14.0pt">
	<span myriad="" style="font-size:10.0pt;mso-bidi-font-family:">Despite the huge contribution of remittance to GDP, Nepal’s economic growth rate has never exceeded 4 per cent except in 2005 although the indication is that remittance will go up in the years to come. A remittance share of 20 per cent of the total GDP should have created enough employment opportunities, but the unemployment rate still stands at 42 per cent. Furthermore, there appears to be an inversely proportional relationship between employment abroad and industrial growth. For instance, industrial production growth rate was only 1.8 per cent in 2011 whereas from 2002 to 2005, the growth rate was 8.7 per cent when remittance inflow was far less. In this ratio, the remittance pattern is in the increasing trend if we compare the figures of 2010/11 and 2004/05. However, the challenge is to channelize the remittance in productive sector. </span></p>
<p class="MsoNormal">
	 </p>
<p class="MsoNormal">
	<strong>&nbsp;</strong></p>
<p class="Pa23" style="margin-top:5.0pt;text-align:justify">
	<strong><span myriad="" style="font-size:10.0pt;mso-bidi-font-family:">What is the contribution of remittance in GDP? </span></strong></p>
<p class="Pa23" style="margin-top:5.0pt;text-align:justify">
	 </p>
<p class="Pa10" style="text-align:justify">
	&nbsp;<span myriad="" style="font-size:10.0pt;
mso-bidi-font-family:">It is estimated that the number of Nepali migrant workers is officially 1.4 million and the number of undocumented migrant workers is estimated to be the same. Annually, Nepal is receiving Rs 200 billion as remittance and its contribution to GDP is about 20 per cent. According to World Bank report - 2011, Nepal ranks sixth among countries in whose GDP remittance holds a very high share. It rose from Rs 47.5 billion in 2001/02 to Rs 231.73 billion in 2009/10. Remittance-to-GDP ratio almost doubled from 10.3 per cent in 2001/02 to 19.6 per cent in 2009/10. Therefore, we can say that there has been a positive impact of remittance in GDP. </span></p>
<p class="MsoNormal">
	 </p>
<p class="Pa23" style="margin-top:5.0pt;text-align:justify">
	<strong><span myriad="" style="font-size:10.0pt;mso-bidi-font-family:">How successful has the state become to utilize the remittance income in the development activities? </span></strong></p>
<p class="Pa10" style="text-align:justify">
	<strong>&nbsp;</strong><span myriad="" style="font-size:10.0pt;
mso-bidi-font-family:">It is rather disappointing that the state has not been able to utilize the remittance to the optimal level. Very less has been done in this aspect. With a huge number of migrant workers working across the globe, remittances are emerging as a new way for alleviating poverty in the developing and least developed countries. </span></p>
<p class="Pa10" style="text-align:justify">
	&nbsp;<span myriad="" style="font-size:10.0pt;
mso-bidi-font-family:">Due to unhealthy investment environment in the home country, remittance money has not been used productively which has made Nepal a consumption oriented economy rather than an investment oriented one. This has slowed the pace of development activities in the country. Presently, 78.9 per cent of remittance money is used for daily consumption while only 2.4 per cent is being used in the productive sector. So, the government should create an investment friendly environment in order to use the remittance money in the productive sector. </span></p>
<p class="Pa10" style="text-align:justify">
	&nbsp;<span myriad="" style="font-size:10.0pt;
mso-bidi-font-family:">In my opinion, the migrant workers should be trained and well informed about what they can do with the money they earn at destination countries. The recruiting agencies should take them in confidence that even after they return to their country, they could have a secure future. Different plans and policies have to be made to create investment friendly environment for these workers. In addition, proper investment environment in the home country acts as a backup in case of emergencies oversees and even during financial crisis. Similarly, the government should introduce measures to encourage savings among migrant workers and their remittance recipient families. </span></p>
<p class="MsoNormal">
	 </p>
<p class="Pa23" style="margin-top:5.0pt;text-align:justify">
	<strong><span myriad="" style="font-size:10.0pt;mso-bidi-font-family:">What is your vision to utilize the expertise of the private sector as well as the state to utilize the earning from remittance? </span></strong></p>
<p class="Pa10" style="text-align:justify;text-indent:14.0pt">
	<strong>&nbsp;</strong><span myriad="" style="font-size:10.0pt;mso-bidi-font-family:">Private sector has a great role to play here. They are the ones who should be making attractive and feasible business ventures that are appropriate for migrants. Migrant workers do not know about the viable projects where their money can be invested. Therefore, in collaboration with these migrant workers, the private sector should establish business ventures that are not only viable but also fulfill the need of the country. Thus, both will have a win-win situation.<br />
	<br />
	People recruited for foreign must be provided several types of training that can enhance their productivity to get better jobs. Proper trainings should be provided to these workers to gain required skills in the destination country. Another major area where private companies are key players is the remittance receiving procedures. There are dozens of private money transfer companies that are providing the service and transferring money through legal and formal channels. The spread of such private services to even the rural areas of the country suggests increasing demand for their services and profitability potential. </span></p>
<p class="MsoNormal">
	&nbsp; <br />
	 </p>
<p class="Pa23" style="margin-top:5.0pt;text-align:justify">
	<strong><span myriad="" style="font-size:10.0pt;mso-bidi-font-family:">What is the situation of Labor Desk and Welfare Fund in the present situation? Is there enough transparency? <br />
	<br />
	</span></strong></p>
<p class="Pa10" style="text-align:justify;text-indent:14.0pt">
	<span myriad="" style="font-size:10.0pt;mso-bidi-font-family:">The Labor Desk has acted more as an extended bureaucracy on the part of the government. The Welfare Fund has collected Rs one billion as of September 2011. However, no significant work has been accomplished to properly utilize this amount. There is less transparency regarding the fund collected thus far. In my opinion, the fund should be utilized to provide trainings, skill-enhancing workshops, and information required for foreign employment. This way, the migrant workers will be well equipped with required skills and well informed about the destination country. This will automatically minimize the risk of the labors being cheated or discriminated at the host nation. </span></p>
<p class="MsoNormal">
	<strong>&nbsp;</strong></p>
<p class="MsoNormal">
	<strong><span myriad="" style="font-size:10.0pt;mso-bidi-font-family:">What is the contribution of remittance in Balance of Payments?</span>&nbsp; <br />
	</strong></p>
<p class="MsoNormal">
	<span myriad="" style="font-size:10.0pt;
mso-bidi-font-family:">Nepal was compelled to borrow $42.5 million from the International Monetary Fund under its rapid credit facility to address BoP deficit one-and-a-half years ago. However, the acceleration in the growth of remittance along with the improvement in the service account has helped maintain a comfortable balance of payments (BoP) situation. After remaining in deficit for two years, the country’s BoP turned surplus in the second last month of the last fiscal year and has continued to grow since. In the same period last year, the BoP had recorded a deficit of Rs 5.72 billion.</span></p>
<p class="MsoNormal">
	<strong>&nbsp;</strong></p>
<p class="MsoNormal">
	<strong><strong>&nbsp;</strong></strong></p>
<p class="Pa23" style="margin-top:5.0pt;text-align:justify">
	<strong><span myriad="" style="font-size:10.0pt;mso-bidi-font-family:">An initiative of the government-foreign employment bond has said to have failed miserably. How can such initiatives be made successful?</span></strong></p>
<p class="MsoNormal">
	<span myriad="" style="font-size:10.0pt;
mso-bidi-font-family:">In my opinion, it is necessary to create a mechanism that provides incentives to the stakeholders so that they are keen to sell on the one hand and on the other, interest rate and other facilities given are not attractive for the migrant workers. Thus, the government should make the bond an attractive package and provide them some more incentive so that it is comparatively profitable for them to buy.</span></p>
<p class="MsoNormal">
	<span myriad="" style="font-size:10.0pt;
mso-bidi-font-family:">Foreign employment bond is one of the key instruments that the government has adopted to raise internal loans. However, lack of awareness and complicated procedures are responsible for the low subscription. The first foreign employment bond, issued in fiscal year 2009-10 had seen subscription worth Rs 4.6 million of the total issue of Rs one billion at 9.5 per cent interest. Likewise, last year too, bonds worth only Rs four million of the total issue worth Rs five billion were sold.</span></p>
<p class="MsoNormal">
	<span myriad="" style="font-size:10.0pt;line-height:115%;mso-bidi-font-family:
">The repetitive failure of the bond to attract enough investment from the migrant worker community has been attributed to the absence of proper marketing channels. The failure of the last two batches had got NRB to look into diverse markets allowing even Non Resident Nepalis (NRN) and returnee migrant workers to purchase the bond instead of only focusing on migrant workers in the Gulf countries and Malaysia. The layman is missing out on booking good returns by investing in bonds due to lack of awareness about investing in government securities.</span></p>
<p class="MsoNormal">
	<span myriad="" style="font-size:10.0pt;line-height:115%;mso-bidi-font-family:
">&nbsp;</span></p>
<p class="Pa1">
	<span class="A8"><span style="font-size:24.0pt;color:windowtext">COVER STORY</span></span></p>
<p class="Pa1">
	<span class="A8"><span style="font-size:24.0pt;color:windowtext"><span style="mso-spacerun:yes">&nbsp;<br />
	<img alt="bala bahadur tamang" border="1" height="293" hspace="10" src="http://www.newbusinessage.com/ckfinder/userfiles/Images/BAL-BAHADUR-TAMANG.jpg" vspace="10" width="300" /></span></span></span></p>
<p class="MsoNormal">
	<span style="font-size:18px;"><span class="A5"><span color:="" style="line-height: 115%; font-family: ">BAL BAHADUR TAMANG <br />
	President <br />
	Foreign Employment Association</span></span></span></p>
<p class="MsoNormal">
	<span style="font-size:18px;"><span class="A5"><span style="line-height: 115%; font-family: ">&nbsp;</span></span></span></p>
<p class="MsoNormal">
	<span class="A5"><span myriad="" style="font-size:10.0pt;line-height:
115%;font-family:">&nbsp;</span></span></p>
<p class="MsoNormal">
	<strong><span class="A5"><span myriad="" style="font-size:10.0pt;line-height:
115%;font-family:">&nbsp;</span></span></strong></p>
<p class="Pa23" style="margin-top:5.0pt;text-align:justify">
	<strong><span myriad="" style="font-size:10.0pt;mso-bidi-font-family:">Which are the countries currently demanding Nepali labors on a big scale? What kind of wages do these migrant workers earn abroad? </span></strong></p>
<p class="MsoNormal">
	<strong>&nbsp;</strong><span myriad="" style="font-size:10.0pt;mso-bidi-font-family:">Most of the world’s estimated 150 million migrants are people searching for improved economic opportunities abroad. Nepal has not been able to escape this phenomenon either. Economic migration to the Middle East from countries in South Asia and other parts of the world was spurred-on by the oil boom in the early 1970s. The reasons behind the migration to the Gulf countries are almost same in Nepal as other parts of the world. Foreign labor migration has developed in such a way over the decades that it has shifted Nepal’s agricultural-based economy towards a remittance based one.</span></p>
<p class="MsoNormal">
	<span myriad="" style="font-size:10.0pt;mso-bidi-font-family:">Nepalis labors are demanded mostly in countries like Malaysia, Dubai, Saudi Arabia and Qatar. Most of the Nepali labors ranging from unskilled, semi-skilled and skilled are equally opting to receive foreign employment to these countries. The minimal wage rate for unskilled labor is 800, semi-skilled is 1,000 and for skilled labor is 1,200 Saudi Riyal. Apart from it, some European countries are also demanding skilled Nepali labors. However, the Middle East nations stand above in this aspect.</span></p>
<p class="MsoNormal">
	<strong>&nbsp;</strong></p>
<p class="Pa23" style="margin-top:5.0pt;text-align:justify">
	<strong><span myriad="" style="font-size:10.0pt;mso-bidi-font-family:">Why is it that the Nepali manpower agencies have not been able to send skilled manpower to the developed countries? How can this problem be resolved? </span></strong></p>
<p class="MsoNormal">
	<strong>&nbsp;</strong><span myriad="" style="font-size:10.0pt;
mso-bidi-font-family:">There is a demand of skilled workers in the international labor market. However, there is a vast difference while comparing the educational and technical standards of Nepali labors with those of the other countries. It is believed that Nepali workers are accepted in East and South Asia as well as the Gulf countries only because they come cheap and do whatever job is given to them. They lack required technical skills which makes it difficult for them to get visas for recruitment in the developed nations.</span></p>
<p class="MsoNormal">
	<span myriad="" style="font-size:10.0pt;
mso-bidi-font-family:">I strongly believe that the government should improve the curriculum in schools so that it can provide more practice-based knowledge. Apart from it, the government should also conduct consultation meetings with the experts, occupational groups, trade unions and foreign employment enterprises to make rules and regulations for the promotion and management of foreign employment occupation.</span></p>
<p class="MsoNormal">
	 </p>
<p class="MsoNormal">
	<strong><span myriad="" style="font-size:10.0pt;mso-bidi-font-family:">How do you view the conduct of manpower agencies operating in Nepal? What are the measures that your association is initiating to give this industry more credibility?&nbsp;&nbsp; </span></strong><br />
	<br />
	<span myriad="" style="font-size:10.0pt;
mso-bidi-font-family:">The main objective of the association is to monitor the manpower agencies providing foreign employment services, for their efficacy and transparency. We are working to make foreign employment business safe, well managed and decent as well as protect the rights and interests of the foreign bound workers and foreign employment entrepreneurs. There are many incidences of fake employment contracts, visas and forged documents etc. The result is that many Nepalis become stranded in foreign countries or are deported from these destinations where they go for work.</span></p>
<p class="MsoNormal">
	<span myriad="" style="font-size:10.0pt;line-height:115%;mso-bidi-font-family:
">A large number of unlicensed agencies exist in the manpower market in Nepal today. Estimates suggest that more than 200 unlicensed agencies are clandestinely involved in this business and bypass all official channels. For example, there are some manpower agencies charging more than Rs 2-3 lakhs per person for a position of manual labor in the Gulf countries or Malaysia. However, the actual cost should be much less. The association is closely monitoring the manpower agencies to make them follow the code and conduct of FEA. <br />
	</span></p>
<p class="MsoNormal">
	<span myriad="" style="font-size:10.0pt;mso-bidi-font-family:">A high-level advisory committee with the participation of the Ministries of Labor and Finance, the National Planning Commission and foreign employment organizations should jointly work, in order to expand foreign employment opportunities and increment the reliability of agents. The association is preparing a draft of proposal concerning the trainings that is to be provided to the workers seeking foreign employment opportunities in the days ahead.</span></p>
<p class="MsoNormal">
	<strong><span myriad="" style="font-size:10.0pt;mso-bidi-font-family:">How can ‘Hundi’ transaction be controlled? Why have manpower agencies not been able to encourage the migrant workers to use formal channels for remittance flow?</span></strong></p>
<p class="MsoNormal">
	<span myriad="" style="font-size:10.0pt;mso-bidi-font-family:">Remittance is one of the important sources of income. The contribution of remittance on Gross National Product is 23.6 per cent. In some cases, it seems that the process of remittance is lengthy and costly. The government should prepare proper plans and policies in order to encourage the migrant workers to use formal channels for remittance purpose. It should provide orientation classes and distribute booklets mentioning the disadvantages of using illegal banking channels like hundi, for instance. The government should also support the recruitment agencies in receiving recruitment charges, visa charges etc through proper banking channels and thereby automatically reduce the use of illegal banking channels. Currently, about 25 per cent of remittance flow is being carried out through hundi. The only way we can control hundi transactions is through easy banking access and close monitoring.</span></p>
<p class="MsoNormal">
	 </p>
<p class="MsoNormal">
	<strong><span myriad="" style="font-size:10.0pt;mso-bidi-font-family:">What is your suggestion to direct the inflow of remittance exclusively from banking channels?</span></strong></p>
<p class="MsoNormal">
	<span myriad="" style="font-size:10.0pt;mso-bidi-font-family:">We have to make the migrant workers understand that huge amounts can be invested in micro, technological and small and medium enterprises. This not only generates employment opportunities, but also stimulates demand for goods and services leading to increment in household income and acquisition of real estate. We can do this by providing trainings to migrant workers before they leave for their destination countries. We have to make them realize that their money would be invested in securing their future and they would have a stake in government projects. It will definitely encourage them to use the formal channels of remittance flow. Apart from it, the easy mechanism for remittance flow through banking channel has to be set up accordingly. Only then, the migrant workers would be encouraged to use the banking channel to send their money to Nepal.</span><br />
	<br />
	 </p>
<p class="MsoNormal">
	<strong><span myriad="" style="font-size:10.0pt;mso-bidi-font-family:">How do you think the families back in Nepal are utilizing the money received from migrant workers?</span> <br />
	</strong></p>
<p class="Pa10" style="text-align:justify">
	<span myriad="" style="font-size:10.0pt;
mso-bidi-font-family:">Instead of the money going to productive sectors, a significant chunk of the remittance is being spent on imports and real estate. Households that owned houses have decreased while those renting houses have increased. The houses of migrant workers have been modernized replacing thatched roof with steel roofs. Access to power has substantially increased too so are the households with safe drinking water, toilets and LPG for cooking. Consumption expenditure on food, housing, and education has increased resulting in a rise in the living standard. However, less money has been invested for capital formation at the macroeconomic level. </span></p>
<p class="MsoNormal">
	 </p>
<p class="MsoNormal">
	<strong>&nbsp;<span myriad="" style="font-size:10.0pt;mso-bidi-font-family:">It is said that the Foreign Employment Bond issued by the government has failed due to the uncooperative behaviors of manpower agencies. What is your take on it? What is your suggestion to best utilize the remittances sent by the migrant workers?</span><br />
	</strong></p>
<p class="MsoNormal">
	<span myriad="" style="font-size:10.0pt;
mso-bidi-font-family:">It is very unfair to say that manpower agencies have shown uncooperative behavior regarding the Foreign Employment Bond. Actually, there has not been enough publicity of the bond to the migrant workers. Besides, the migrant workers do not have much purchasing power as they have many financial obligations that need to be fulfilled with limited income.</span></p>
<p class="MsoNormal">
	<span myriad="" style="font-size:10.0pt;
mso-bidi-font-family:">As of now, remittance is being used in unproductive areas like building houses and other unnecessary products. It would be much better if remittance could be used in productive sector like education, hydro power etc.</span></p>
<p class="MsoNormal">
	<strong>&nbsp;</strong></p>
<p class="Pa23" style="margin-top:5.0pt;text-align:justify">
	<strong>&nbsp;<span myriad="" style="font-size:10.0pt;mso-bidi-font-family:">The welfare fund has collected around Rs one billion as of September 2011 but it has not been utilized or any productive work. What are the necessary steps that can be taken to properly utilize this amount?</span></strong></p>
<p class="MsoNormal">
	<span myriad="" style="font-size:10.0pt;
mso-bidi-font-family:">According to the Foreign Employment Act 2064 BS, the Foreign Employment Promotion Board is expected to use the amount collected under the Welfare Fund, in conducting foreign employment awareness programs in 72 districts. I, being a member of the said board, raise these issues to the government to address the problems faced by the migrant workers.</span></p>
<p class="Pa10" style="text-align:justify">
	<span myriad="" style="font-size:10.0pt;
mso-bidi-font-family:">In my opinion, the board has to provide loans with minimum interest to those working abroad. If their families who are in Nepal get loans, there is a good chance that they will invest such amount in the p</span></p>',
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<p class="MsoNormal">
	<span class="A13"><span style="font-size:
59.0pt">T</span></span><span style="mso-tab-count:1">he Government of Nepal has declared 2012 as the Investment Year. It was apparently meant to attract international investment, or foreign direct investment (FDI) into Nepal. But as the year closes to its end, there still is not any case of significant FDI entering this country. Worse still, a number of companies with such investment have already pulled their shutters down, or, planning to do so. The recent example is the closure of Kathmandu franchisee outlets of the global food chain KFC and Pizza Hut. And, as of penning these lines, there was no convincing sign of them opening soon. Even if they did, the damage done by the reason of its closure – overtly politicized labour highhandedness – is sure to be a detracting factor for the potential investors. Moreover, this is the second such case after Surya Nepal closed its readymade garments’ unit some six months ago, also due to industrial disputes.&nbsp;&nbsp; <br />
	<br />
	</span><span style="mso-tab-count:1"><span class="A13"><span style="font-size:
59.0pt"><img alt="fromtheditor" border="1" height="212" hspace="5" src="http://www.newbusinessage.com/ckfinder/userfiles/Images/investment(1).jpg" vspace="5" width="330" /></span></span>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </span></p>
<p class="MsoNormal">
	<span myriad="" style="font-size:10.0pt;mso-bidi-font-family:">Only political formalities like announcing an Investment Year by the government would never be enough to materially attract the investment. On the contrary if the ‘pull factors’ are adequate, such an investment would automatically flood in even without such announcements. Therefore, Nepal as the nation-state should first check whether such pull factors exist at all, at present.</span></p>
<p class="MsoNormal">
	<span myriad="" style="font-size:10.0pt;mso-bidi-font-family:">As the fact of the matter, they don’t exist at all. The prolonged political uncertainty, as claimed by all and sundry, is not only the distraction; the radical Reds at the helms of state affairs with the ‘Maoist’ tag is even larger scary factor. The ruling party here might furnish innumerable arguments to establish how investment-friendly they are prepared to be. But why would a potential investor take pain of subscribing these sugar-quoted arguments instead of reading the writing on the wall–THE MAOISTS; whatever it means?</span></p>
<p class="MsoNormal">
	<span myriad="" style="font-size:10.0pt;
mso-bidi-font-family:">The trade union leaders at the Pizza Hut, after its closure came-up with a lame-duck statement to prove their innocence claiming that they were just forming a unit there and were not planning even to ‘immediately’ strike. That may or may not be true. But why would any investor even take the risk of running the trade under the perennial duress in over-unionized set-up?</span></p>
<p class="MsoNormal">
	<span myriad="" style="font-size:10.0pt;
mso-bidi-font-family:">There are many instances that the industrial disputes are not limited to securing the trade union rights of any company concerned, but in fact the means to achieve political objectives of the mother Party one is affiliated to. It’s been years that collective bargaining processes enshrined in the labour laws of the country are grossly dishonoured. Sheer force and political protection to union activities has been the cardinal modus operandi in extracting benefits from the employers.</span></p>
<p class="MsoNormal">
	<span myriad="" style="font-size:10.0pt;line-height:115%;mso-bidi-font-family:
">Some other reasons like the power shortages, infrastructure deficits and lack of policy predictability could be cited as other bottlenecks to attract both international and domestic investment. They are but only secondary to overarching ultra-red communist image of the government and industrial anarchy created by the trade unions invariably led by party cadres rather than the workers. Not only international, even domestic investment is not likely to come by in any significant measure until and unless these fundamentals are changed for the better.<br />
	<br />
	<br />
	</span></p>',
			'published' => true,
			'created' => '2012-10-10',
			'modified' => '2012-10-30',
			'keywords' => '',
			'description' => 'The Government of Nepal has declared 2012 as the Investment Year. It was apparently meant to attract international investment, or foreign direct investment (FDI) into Nepal. But as the year closes to its end, there still is not any case of significant FDI entering this country. Worse still, a number of companies with such investment have already pulled their shutters down, or, planning to do so.',
			'sortorder' => '599',
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	(int) 9 => array(
		'Article' => array(
			'id' => '702',
			'article_category_id' => '50',
			'title' => 'Feedback September 2012',
			'sub_title' => '',
			'summary' => null,
			'content' => '<p>
	<strong><img alt="feedback" border="1" height="554" hspace="5" src="http://www.newbusinessage.com/ckfinder/userfiles/Images/businessage.jpg" vspace="5" width="452" /><br />
	<br />
	Pharmaceuticals Dilemma <br />
	</strong></p>
<p>
	The cover story on ‘Growing Business of Pharmaceutical Companies’ in your August issue is very inspiring. You have put great effort in highlighting the pros and cons of the pharmaceutical business. I was hitherto unknown about so many aspects of the pharmaceutical business. However, the fact is; there is a shortage of medicines all over the country that is making rural life tougher. The growing business of pharmaceutical industries is not helping in fulfilling the demand of essential medicines let alone the hightech medicines. Medicinal business must not be a money making business whereas industrialists should acknowledge that public support is vital in operating any industry. I am not against those industries running with profit either. What I want to highlight is the money motive of the industrialists which is stopping them from caring about the well being of the citizens besides their businesses. Government encouragement and incentives are also important in this regard. Apart from that, it is pitiful to learn that Nepali industries are competing with similar Nepal-made products. Furthermore, high prices of the medicines have been a headache to the general people. Good monitoring and inspection as carried out by the Department of Drug Administration (DDA) is praiseworthy but it is noted that without publicizing the facts, their hard work goes in vain. The conclusion of the story, however, talks about the future of pharmaceutical companies which indeed has shown a new ray of hope for the medicine business in Nepal.<strong><br />
	Achyut Giri, Baluwatar, Kathmandu</strong></p>
<p>
	<strong><br />
	</strong></p>
<p>
	<strong>Like Reading your Magazine</strong><br />
	<br />
	I am a student of management currently pursuing MBA. Since my aim is to become a business person, I like reading New Business Age as it features interviews and articles on prominent businessman. I hope to try to pursue the strategies and techniques that successful businessman apply in their business. I also like to see a number of international business people being features in your magazine. I was hoping to read about people from the banking sector in your August issue and surprisingly Global IME Bank Chairman Chandra Prasad Dhakal was featured there. It is certainly inspiring to read about somebody like him who had very humble beginnings. Reading your magazine has become a hit with my friends also. Every time I finished reading your magazine, I used to give it to my friends studying management with me. Now, they have started reading your magazine even before I do. <strong><br />
	Aashish Shrestha, New Road, Kathmandu</strong></p>
<p>
	<strong><br />
	</strong></p>
<p>
	<strong>Value Addition</strong></p>
<p>
	<br />
	The new design for the past few issues has made New Business Age very attractive. Extra pages have also added value to your magazine and it is certainly worth the money. It is heartening to note that the magazine is of international standard now, not only for its design and size, but also for its content. I have a collection of your magazine since a long time and I often like to refer to them for various work purposes. <br />
	<strong>Dilip Darji, Hetauda </strong></p>
<p>
	<br />
	<strong>Local People Involvement in Hydropower</strong><br />
	<br />
	Projects Investment from local people in hydropower projects as mentioned in your write up ‘Chilime Hydropower: Dreaming Large’ is a new initiation from the private sector. Business companies know that if local people are involved in the project, it will benefit the people as well as the company in the long run. People support and help in removing hurdles that come in the way of projects running in their locality. I think it is now time for people to initiate themselves if not encouraging closed or semi- closed hydropower projects. People who live close to the future hydropower projects must initiate in running uncertain projects by themselves or seek support from big business firms or aid agencies. Lastly, as we need more hydropower projects to get rid of the load shedding, I expect more write ups in your magazine to this effect in the upcoming issues.<br />
	<strong>Saraswati Kathayat, Mulpani, Chabahil</strong><br />
	<br />
	<br />
	<strong>Chilime Hydropower</strong><br />
	<br />
	<img align="left" alt="hydropower" border="1" height="131" hspace="10" src="http://www.newbusinessage.com/ckfinder/userfiles/Images/chilime.gif" style="width: 243px; height: 131px;margin:10px;padding:10px;" vspace="10" width="243" />In your August issue, there was coverage about Chilime Hydropower. You have mentioned about four other subsidiary hydropower projects along with Chilime Hydropower which I think is good news for people of this country who are troubled by the load shedding. Hydropower has been regarded as a medium to economic prosperity for a developing country like Nepal. I was happy to read about economic and technical preparations reaching final stage in relation to the construction of all four projects. These hydropower companies are expected to help in making Nepal a load shedding free country. It will ease daily life of the normal people as well. Since Chilime is based on 4p model –people-publicprivate- partnership; it proves that the role of private sector is very important in developing hydropower in Nepal. <br />
	<strong>Hira Sharma, Kohalpur, Banke&nbsp; <br />
	</strong></p>
<p>
	 </p>
<p>
	<strong><br />
	</strong></p>',
			'published' => true,
			'created' => '2012-10-04',
			'modified' => '2012-10-30',
			'keywords' => '',
			'description' => 'The cover story on ‘Growing Business of Pharmaceutical Companies’ in your August issue is very inspiring. You have put great effort in highlighting the pros and cons of the pharmaceutical business',
			'sortorder' => '598',
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	(int) 10 => array(
		'Article' => array(
			'id' => '700',
			'article_category_id' => '34',
			'title' => 'Bhatbhateni Opens Outlet At Pokhara',
			'sub_title' => '',
			'summary' => null,
			'content' => '<p>
	<img alt="bhatbateni" border="1" height="191" hspace="5" src="http://newbusinessage.com/ckfinder/userfiles/Images/bhatbateni.jpg" vspace="5" width="400" /><br />
	<br />
	Bhatbhateni Super Market and Departmental Store Pvt Ltd opened its new outlet at Pokhara on July 14. Min Bahadur Gurung, Managing Director of Bhat Bhateni Supermarket and Department Store, inaugurated the new Pokhara outlet. <br />
	<br />
	The opening ceremony was initiated with the slogan “Product of Pokhara, Product of Nepal.” It is the sixth chain of the store and the first outside the Kathmandu Valley. According to Gurung, around 50,000 customers attended the opening of the store including businesspersons, tourism entrepreneurs, Nepal army and police personalities and local people of Pokhara. He expressed his happiness as more number of people visited the store during the opening ceremony, which was double the amount he had expected. <br />
	<br />
	The group has invested Rs 750 million in its Pokhara expansion drive. Gurung informed that the rates of the goods sold from Pokhara stores would be similar as that of the stores in Kathmandu. The new outlet at Pokhara features daily commodities, food items, vegetables, fruits, liquors, kitchenware, garments, electronic appliances, furniture, and decorative items, among others. “We will be bringing the finest quality products from all over the world and also provide world class service to our customers,” said Gurung. <br />
	<br />
	Bhatbhateni will provide 10 percent discount on all products for one month at the Pokhara outlet. <br />
	<br />
	 </p>',
			'published' => true,
			'created' => '2012-08-16',
			'modified' => '0000-00-00',
			'keywords' => '',
			'description' => 'Bhatbhateni Super Market and Departmental Store Pvt Ltd opened its new outlet at Pokhara on July 14. Min Bahadur Gurung, Managing Director of Bhat Bhateni Supermarket and Department Store, inaugurated the new Pokhara outlet.',
			'sortorder' => '597',
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	(int) 11 => array(
		'Article' => array(
			'id' => '699',
			'article_category_id' => '34',
			'title' => 'Nepal Losing Out On FDI To Neighbouring Indian States',
			'sub_title' => '',
			'summary' => null,
			'content' => '<p>
	A good chunk of Foreign Direct Investment (FDI), perhaps meant for Nepal is finding its way to the neighbouring Indian states. The Indian states, specially those sharing borders with Nepal, such as Bihar, Uttar Pradesh, Uttaranchal etc are fast becoming preferred investment destinations for foreign investors, thanks to the rapid infrastructure development, investment friendly industrial policies and guarantee of investment security in India in recent times. <br />
	<br />
	Additionally, the political instability, strikes and extortions has hit the Nepali entrepreneurs adversely. Industrialists in Nepal have held responsible the government for lack of security. They have shown their dissatisfaction towards the government for narrowing the tax liberty rather than providing subsidies. <br />
	<br />
	Suraj Vaidya, President, FNCCI, said, “It is such a dreadful condition that the government has not been able to formulate economic agenda for overall industrial growth. “Investment securities are the major concern for both national and international investors these days. The present scenario would adversely affect the Nepali economy, thus losing out a large chunk of FDI to its southern neighbor, added Vaidya. Upper Karnali and Western Seti incidences have marked a bitter experience amongst the foreign investors. As stated by top officials of the federation, one Nepali Biscuit Industry vanished to India due to lack of favorable business environment. <br />
	<br />
	Dinesh Shrestha, Sectoral Committee Chairperson of FNCCI said, “The leaders of political parties have not been able to create favorable environment for investment. He urged the need to control the party workers to put a stop to the acts of extortion and strikes. The industrial policy drafted two years ago has not come into execution. This has resulted in creating discouragement amongst the Nepali industrialists. <br />
	<br />
	Currently, the financial indicators of Nepal are negative which stands at 134th position in terms of FDI within the list of 141 countries based on the World Investment Report-2011. Similarly, “Doing Business Index” of World Bank has considered Nepal as an unfavorable destination for Investment and doing business. This has relayed negative message in the international arena. On the other hand, foreign investors are lured towards neighbouring states of India due to flexibility in Indian FDI policies. <br />
	<br />
	Radhesh Pant, CEO, Investment Board, said, “Foreign investors seek “One Window Shop” and we have not been able to do adequate marketing of the available resources and other positive aspects.” There is a lack of coordination between the government and private sector in Nepal unlike India, added Panta. According to him, the government should provide investment security to existing investments along with seeking additional flow of FDIs. <br />
	<br />
	According to Vaidya, creating favorable investment environment and improvement in policies are primary steps towards attracting FDIs. Apart from it, political stability is the major factor governing this process. <br />
	 </p>',
			'published' => true,
			'created' => '2012-08-16',
			'modified' => '0000-00-00',
			'keywords' => '',
			'description' => 'A good chunk of Foreign Direct Investment (FDI), perhaps meant for Nepal is finding its way to the neighbouring Indian states. The Indian states, specially those sharing borders with Nepal, such as Bihar, Uttar Pradesh, Uttaranchal etc are fast becoming preferred investment destinations for foreign investors, thanks to the rapid infrastructure development, investment friendly industrial policies and guarantee of investment security in India in recent times.',
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			'id' => '698',
			'article_category_id' => '34',
			'title' => 'NDEX Money Expo 2012 From August 31',
			'sub_title' => '',
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	<img alt="" border="1" height="115" hspace="5" src="http://newbusinessage.com/ckfinder/userfiles/Images/NDEX.jpg" vspace="5" width="400" /><br />
	<br />
	A three-day NDEX Money Expo 2012 will take place in the capital from August 31 to September 2. ‘Arthik Abhiyan’ daily and Jamb Technologies in association with Minds Nepal and Morningstar Investment Services are organizing the event. <br />
	<br />
	Inspired from the success of Money Expo 2011 held last year, and being able to obtain wide appreciation from different business groups, visitors, regulatory bodies and participants; “NDEX Money Expo 2012” is believed to be a mega financial event. Being the largest finance and investment show in Nepal, it will focus on the promotion of investment opportunities and wealth protection strategies. <br />
	<br />
	Suraj Vaidya, President of Federation of Nepalese Chambers of Commerce and Industry (FNCCI), said that the expo would help in motivating the investors and bring in investment by creating environment for interaction between different industrialists and business giants. <br />
	<br />
	“Events like this should be organized at regular intervals as they will definitely help improve investment climate in the country,” said Radesh Pant, CEO of Investment Board. Confederation of Nepalese Industries (CNI) Vice President Hari Bhakta Sharma urged the private sector to issue white paper to pressure the government. “Private sector must unite for a common minimum economic agenda and build pressure on the government,” he said. <br />
	<br />
	Similarly, Director of Nepal Rastra Bank Ashwani Kumar Thakur also urged to separate politics and economy for prosperity. Thakur told that he believes events like NDEX Money Expo 2012 would be highly effective to encourage and motivate investors. <br />
	<br />
	Bishnu Prasad Dhakal, Under Secretary at the Ministry of Industry, told that events like NDEX Money Expo 2012 should be a discussion platform on choosing the appropriate economic model of the country. He emphasized that the entrepreneurs should focus on the sectors having higher competitive advantage. Dhakal urged that domestic businesspersons should focus more on agriculture and hydroelectricity generation. <br />
	<br />
	“It will offer complete financial and investment solutions,” said Chairman of Arthik Abhiyan daily Madan Lamsal. The expo will focus on the promotion of investment opportunities and wealth protection strategies, he said. <br />
	<br />
	Speaking at the event, Kush Kumar Joshi, Chairman of Nepal Infrastructure Development Company Ltd, said that until and unless there is sufficient domestic investment, foreign investment cannot be expected. He urged collection of funds from the domestic sector for the infrastructure development of the country. He added that the basic prerequisite in inviting foreign investment is the development of the internal infrastructure. The expo is a unique businessnetworking event for the companies of financial sectors and their constituents. It provides investors a valuable opportunity to speak directly with the nation´s top financial experts related to trading and investment, banking, insurance, mutual funds, stocks, tax strategies, commodities and personal financial planning. <br />
	<br />
	The expo will have more than 122 stalls of different regulatory bodies, stock and commodity exchanges, banks and financial institutions, merchant bankers, investment companies, brokerage companies, remittance companies, insurance companies, depositors and clearing houses, portfolio management companies, financial knowledge management and training institutes, microfinance and cooperatives, traders and investors associations and clubs and financial domain technologies among others. Besides, various other events like seminars and speeches from financial experts, regulators, analyst and top investors, art exhibition and quiz contest, national and international currency show, trading and investment movie show will also be organized at the sidelines of the expo. <br />
	<br />
	<strong><br />
	The organizers are expecting a footfall of more than 300,000 at the event. </strong><br />
	<br />
	 </p>',
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			'title' => 'Samsung Plaza Completes 10 Years',
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	<br />
	<img alt="samsung plaza" border="1" height="264" hspace="5" src="http://newbusinessage.com/ckfinder/userfiles/Images/samsung(2).jpg" vspace="5" width="300" /><br />
	<br />
	<br />
	Samsung Plaza Durbar Marg has completed 10 years of its operations successfully. It is an exclusive brand outlet of Samsung AudioVisual (AV) and Home Appliances (HA) products of Him Electronics, the authorized distributor of Global No. 1 Consumer Electronics Brand in Nepal. According to Seema Golchha, Director of Samsung Plaza, “We feel immensely happy after the successful completion of 10 years of Samsung Plaza and would like to give this credit to all of our valued customers. <br />
	<br />
	<br />
	Samsung Plaza showcases and retails Samsung’s latest technology products including Audio Visual Products, Home Appliances and Samsung’s Camera. It is an outlet that sells Samsung Products to the customers and provides exclusive services like high value purchase, after sales services, purchase counselling, doorstep delivery and free installation. Along with Durbar Marg, Samsung Plaza has expanded its service in Civil Mall, New Baneshwor and Kumaripati throughout the period of 10 years. <br />
	<br />
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			'description' => 'Samsung Plaza Durbar Marg has completed 10 years of its operations successfully. It is an exclusive brand outlet of Samsung AudioVisual (AV) and Home Appliances (HA) products of Him Electronics, the authorized distributor of Global No. 1 Consumer Electronics Brand in Nepal. According to Seema Golchha, Director of Samsung Plaza, “We feel immensely happy after the successful completion of 10 years of Samsung Plaza and would like to give this credit to all of our valued customers.',
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			'title' => 'Maximising Business Productivity',
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	<br />
	<br />
	Thakral One, the end-to-end business solution provider for emerging markets, and Microsoft Corp recently concluded an event titled ‘Maximising Business Productivity’. <br />
	<br />
	<br />
	The event, attended by senior executives from across industries, provided the platform to highlight the need for deploying user-friendly applications and optimized infrastructure for organisations looking at sustaining as well as growing in the current dynamic business environment. Director - Asia Pacific Region at Microsoft, Alexander Oddoz- Mazet, shared with the audience how an exponential evolution of technologies and infrastructure, done independently in most cases, is creating communication silos and hence, there is a necessity of streamlining communications within the business world. Unified communications and business productivity solutions from Microsoft provide the answers to challenges such as these. <br />
	<br />
	Nabin Joshi, AGM-Sales &amp; Marketing of Thakral One, said, “Microsoft SharePoint is a business collaboration platform offering for the enterprise which would enable portal, workflow, business intelligence, enterprise search and content management capabilities. While commenting on Microsoft Unified Communications as a way to reduce complexity by putting people at the centre of the communications experience, Deependra Raj Bajracharya, Partner Account Manager (Nepal) of Microsoft Bangladesh Limited, said, “The goal is to integrate all of the ways we contact each other in a single environment while providing businesses with the power to choose how they provision those services.”<br />
	<br />
	Describing Thakral One’s commitment to its clients and partnership with Microsoft, Arun Khatri, Manager – Business Development – Enterprise Solution at Thakral One, said, “We are delighted to work with Microsoft for extending unified communications and business productivity solutions to our clients.” He added, “Our focus on building local infrastructure and endto- end skill sets, along with the proven methodologies that the Microsoft- Thakral One partnership brings to the table, will enable our customers to innovate and adapt to dynamic market conditions.” <br />
	<br />
	<br />
	The conference also delved on topics like the importance of optimising infrastructure, assessing and streamlining processes and, maximising team interactions and productivity. The evening ended with an invitation to the attendees to participate in the Customer Immersion Experience (CIE) – A unique opportunity for organisations and their end-users to get a rich, handson interactive experience, in a true-tolife environment, unlike traditional product presentations or demos. <br />
	<br />
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	<span class="A13"><span style="font-size:
59.0pt"><img alt="cocacola" border="1" height="187" hspace="10" src="http://newbusinessage.com/ckfinder/userfiles/Images/cocacola(1).jpg" vspace="10" width="227" /><br />
	T</span></span><span myriad="" style="font-size:10.0pt;mso-bidi-font-family:">ime and again, we hear about intense competition between brands. Companies try to prove their superiority over their rivals and to outsmart them which sometimes turn into brand wars. How does one differentiate products that have the same attributes? The only way is to position it differently through advertising campaigns and outrun the competition. Some classic examples are that of Coke Vs Pepsi along with some others like Horlicks Vs Complan.</span></p>
<p>
	&nbsp;<span myriad="" style="font-size:10.0pt;mso-bidi-font-family:">A research indicates that one could not distinguish between Coke and Pepsi in a blind test so, technically, they are the same. However, with smart positioning of Coke, brands like Sprite and Fanta have made them more appealing to the consumers. Locally, Sprite’s ongoing “Bato Clear Chha” campaign is being liked by the masses for its fresh approach to a mundane product. On the other hand, Pepsi has embarked on a global approach focusing on comparatively healthy drinks like Lipton Cold Tea and Tropicana Juice. With the obesity problem, lifestyles have changed thus urging companies to come up with healthier products. In that spirit, the company is giving more attention to water, juices and sports drinks which seems like a logical approach.</span> <br />
	<br />
	<img alt="airlines" border="1" height="201" hspace="10" src="http://newbusinessage.com/ckfinder/userfiles/Images/horlicks.jpg" vspace="10" width="300" /></p>
<p class="Default">
	<span myriad="" style="font-size:10.0pt;
mso-bidi-font-family:">There is an ongoing battle between Horlicks and Complan, both claiming their beverage can make children sharper, taller and stronger. The ad claims that children who were served Complan grew twice as fast to those on a regular diet due to its milk protein and nutrients. It also builds credibility by saying “Approved by Department of Food Science and Nutrition”. There is an ongoing case filed by the makers of Horlicks against Complan for allegedly damaging their reputation. In recent times, Horlicks is into a new strategy targeting working adults too and not just kids.</span></p>
<p class="Default">
	<span myriad="" style="font-size:10.0pt;
mso-bidi-font-family:">Buddha Air and Yeti Air, the giants in Nepal’s domestic aviation, saw a similar war going sometime back. One claimed their engine as slicker and superior while the other claimed their commitment to safety and convenience for passengers. Keeping aside the technical superiority of their airplanes, one thing that the ‘war’ did was to keep the two brands in the minds of the customers. At the end, it’s of course the customer who decides on the brand they feel emotionally connected with and not necessarily the functional superiority.</span></p>
<p class="Default">
	<span myriad="" style="font-size:10.0pt;
mso-bidi-font-family:">Many brands fought their own battles to cash in on the recently held London Olympic Games, the greatest sporting event, as well. While athletes all over the world flexed their muscles eying gold medals, companies made bids to get maximum exposure for their brands during the event. One of the surprise winners is Twitter which became popular because of inappropriate tweets from athletes. It was the first time when a social network brand cashed in on the Olympics. Well known sporting brand Puma’s bet on the world’s fastest man Usain Bolt paid off handsomely with unprecedented brand exposure during the games. Similarly, Nike and Gatorade too got their share of the pie. All in all, brand wars are more about reputation wars rather than product superiority. Since the competing brands in a certain category hardly have any differentiation product-wise, the only way out is to go head-on with the competition.</span> <br />
	<b style="mso-bidi-font-weight:normal">&nbsp;</b></p>
<p class="MsoNormal">
	<b style="mso-bidi-font-weight:normal"><span style="font-size:8.0pt;line-height:115%;color:#211D1E">Karki can be reached at sajag_karki@hotmail.com. The article is based on research and author’s practical experience as a marketing and advertising professional.<br />
	<br />
	<br />
	<br />
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	<span style="font-size:11.5pt;line-height:115%;mso-bidi-font-family:
&quot;Myriad Pro&quot;;color:#211D1E">&nbsp;The fourth quarterly reports of the companies failed to boost the market</span></p>
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59.0pt">W</span></span><span style="font-size:10.0pt;mso-bidi-font-family:&quot;Myriad Pro&quot;;
color:#211D1E">hile the fourth quarterly reports of the previous fiscal year were coming in, it looked like that the share market of Nepal was going to get another boost. Almost all the banks and financial institutions (a sector that dominates this market) were reporting increased profit for the previous year. But that did not happen. The benchmark Nepse index lost 11.53 points or 2.91% to rest at 396.83 at the end of the review month. The session’s high was on 23 July (408.36) and the low was on 15 August (392.03).</span> </p>
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	<span style="font-size:10.0pt;mso-bidi-font-family:&quot;Myriad Pro&quot;;color:#211D1E">The reason was however obvious. The investors ignored the satisfactory reports as pessimistic sentiments (about dividend yield) ruled the environment. Shares of major blue chip companies fell down despite the companies showing healthy performance in the last year.</span>&nbsp; <span style="font-size:10.0pt;mso-bidi-font-family:&quot;Myriad Pro&quot;;color:#211D1E">However the hydropower companies were exceptions as they registered straight growth stoking expectations of attractive dividends. Three out of the four listed hydropower companies reported grown in their income pushing the group index up.</span> </p>
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	<span style="font-size:10.0pt;mso-bidi-font-family:&quot;Myriad Pro&quot;;color:#211D1E">Also the monetary policy for the fiscal year 2069/70 failed to drive the stock market. The policy has increases Cash Reserve Ratio (CRR) for the Banking and Financial institutions. This is sure to push up the lending rates causing restraint in borrowing and thus in the business volume and profits of the banking companies.</span> <span style="font-size:10.0pt;mso-bidi-font-family:&quot;Myriad Pro&quot;;color:#211D1E">In the review period, the Securities Board of Nepal (SEBON) has suggested Citizen Investment Trust CIT) to mobilize Rs 5 billion in the secondary market to boost up the sagging sentiments in the market. CIT says it is evaluating the feasibility to undertake the role of a market maker. If CIT really takes up this role, it will be a milestone for the betterment of capital market in Nepal.</span> </p>
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	<strong>&nbsp;</strong></p>
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	<strong><span style="font-size:11.5pt;
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	<strong>&nbsp;</strong><span style="font-size:10.0pt;
mso-bidi-font-family:&quot;Myriad Pro&quot;;color:#211D1E">Banking sector which occupies the major volume of trade in the exchange plummeted 26.68 points or 7.52% to 354.7. Finance sector descended 12.74 points or 5.05% to 252.21 while development bank lost 6.92 points to close at 246.18. Trading sector receded 4.23 points to come to 187.74. However hydropower sector gained hefty 65.69 points of 8.53% to settle at 770.53. Manufacturing sector too went up 42.06 points to 728.8 while there was 17.62 points increase in others to 635.62.</span> </p>
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	<span style="font-size:10.0pt;
mso-bidi-font-family:&quot;Myriad Pro&quot;;color:#211D1E">Sensitive index that measures the performance of 133 blue chips plunged 1.78 points or 1.74% to 102.11 while the float index calculated on the basis of real transaction went down 1.41 points or 4.64% to 30.37. The turnover was of Rs. 1,362,406,374 during the review period from 4,572,497 units of share traded via 27,297 transactions. </span></p>
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	<span style="font-size:10.0pt;
mso-bidi-font-family:&quot;Myriad Pro&quot;;color:#211D1E">The accompanying figure shows the sector-wise distribution based on the total volume of trade. Commercial bank has accounted for 63.31% of total volume of trade. Hydropower sector occupied 20.49% while remaining sector covered the rest.</span> </p>
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	<span style="font-size:10.0pt;
mso-bidi-font-family:&quot;Myriad Pro&quot;;color:#211D1E">Technically, the Simple Moving Average (SMA) indicates to stagnation in the short term as both Nepse index and 30 days SMA are moving flat. In the long term analysis, the index has already crossed the 200 days SMA indicating that an absence of strong fundamentals will lead to correction. </span></p>
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	<strong>&nbsp;<span style="font-size:8.0pt;line-height:115%;mso-bidi-font-family:
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	<span style="font-size: 12px;">&nbsp;</span><span myriad="" style="font-size: 15pt; line-height: 115%;">&nbsp;</span><span style="font-size: 15pt;">“We offer a warm hospitality and also have a beautiful garden to ensure a calming atmosphere.”</span></span></p>
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	<strong><span class="A5"><span style="font-size:10.0pt">Kumar R Maharjan &nbsp;</span></span></strong></address>
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	<strong><span class="A5"><span style="font-size:10.0pt">Chairman </span></span></strong></address>
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	<strong><span class="A5"><span myriad="" style="font-size:10.0pt;line-height:
115%;font-family:">Heritage Spa</span></span></strong></address>
<p class="MsoNormal">
	<span class="A13"><span style="font-size:
59.0pt">W</span></span><span myriad="" style="font-size: 10pt;">ho wouldn’t love relaxation after a long and stressful day at work? Heritage Spa, with a tagline ‘an invitation for relaxation’, has come up with various stress-busting therapies. The spa is located in a serene and peaceful setting within the heart of maddening and bustling city of Kathmandu. Heritage Spa, located at Sanepa Height, has proven to be an easy getaway from a tiresome and stressful day.</span></p>
<p class="Default">
	<span myriad="" style="font-size:10.0pt;
mso-bidi-font-family:">Kumar R Maharjan, Chairman at the Heritage Spa says that in partnership with his friend, the spa was established in October 2011. It was started with a motive to offer relaxation to people, right next to their door at an affordable cost and within a short duration. “Irrespective of the profession one chooses, s/he needs relaxation due to stressful working hours. Usually, working people suffer from body pain, stiff muscles, mental stress and similar other problems,” he says, “This is a place where they can get rid of such stresses.”</span></p>
<p class="Default">
	<span myriad="" style="font-size:10.0pt;
mso-bidi-font-family:">Maharjan says that there are various categories of spas. However, a spa needs appropriate location with peace and tranquillity. He believes a customer should be able to feel the positive vibe at the moment of entering the spa. “We offer a warm hospitality and also have a beautiful garden to ensure a calming atmosphere,” he says.</span></p>
<p class="Default">
	<span myriad="" style="font-size:10.0pt;
mso-bidi-font-family:">According to Maharjan, Heritage Spa does not use any chemical-based products for any of its service offerings. The spa even produces Aloe Vera – needed for various therapies – on its own. The company believes that anything that is not to be eaten should not be applied on the skin either.</span> <br />
	<br />
	<img alt="Heritage Spa" border="1" height="227" hspace="10" src="http://newbusinessage.com/ckfinder/userfiles/Images/product_1.jpg" style="float:left; margin:0 10px 0 0;" vspace="10" width="400" /></p>
<p class="Default">
	<span myriad="" style="font-size:10.0pt;
mso-bidi-font-family:">Heritage Spa offers over two dozen services which cover treatments from head to toe. The spa claims to be the specialist in Swedish style facial and body massage. A session at Heritage Spa ranges anything from Rs 450 for a steam bath to Rs 3,500 for a ‘Shirodhara’. Maharjan explains that ‘Shirodhara’ is a therapy designed to eliminate mental exhaustion as well as stress and any ill effects on the central nervous system.</span></p>
<p class="Default">
	<span myriad="" style="font-size:10.0pt;mso-bidi-font-family:">The spa offers its signature services for both males and females. Reena Shrestha, Aesthetician at the spa says that males prefer receiving services before special occasions and parties while women do not need any special occasion as they always love to feel and look beautiful. <span style="mso-spacerun:yes">&nbsp;</span>Swedish style Facial is one of the signature services offered by the spa which involves pressing the right nodes in the face that makes the skin look younger. Shrestha says that use of natural products like almond, honey, milk, cucumber, Aloe Vera along with the right technique nourishes the skin and leaves a refreshing result.</span></p>
<p class="Default">
	<span myriad="" style="font-size:10.0pt;mso-bidi-font-family:">Similarly, Raw Coffee Body Scrub would be a perfect option for those looking to purify and cleanse dead skin cells from the body that ensures smooth and supple looks. Maharjan adds that body scrubs are equally beneficial for elderly people and the youngsters. Likewise, the Camphor Oil Body Treatment is one of the most demanded signature services at the spa. Using traditional ayurvedic methods of massage, the therapy heals painful tight muscles, removes toxins and unblocks energy flow. The massage session that takes around 60 to 90 minutes releases tensions and stress from the body.</span></p>
<p class="Default">
	<span myriad="" style="font-size:10.0pt;mso-bidi-font-family:">Other than these, the spa offers services and therapies that include Head and Shoulder Treatment, Purifying Bio Fruit Facial, European Style Spa Treatment, Sugar Body Polish and Scrub, Healing Package for Elder Citizens, Hot Stone Therapy and Massage for Trekkers/Hikers among 25 various services. It also has service categories for teenagers, working people and senior citizens.</span></p>
<p class="Default">
	<span myriad="" style="font-size:10.0pt;
mso-bidi-font-family:">Currently, the spa has ongoing seasonal offering named Sexy Legs targeted at teenage girls for the summer season. Shrestha says that teenagers like to look good and stylish so the spa is trying to cash this sentiment. The offer includes waxing of leg and removing dark spots in elbow and other body parts. “Polishing with brown sugar gives a silky smooth and glowing finish to their legs,” says Maharjan. During the winter, the spa runs grooming service as well.</span></p>
<p class="Default">
	<span myriad="" style="font-size:10.0pt;
mso-bidi-font-family:">Adherence to the ethical practices is the speciality of Heritage Spa while being committed to the service excellence at the same time. When a customer enters the spa, s/he is accorded a warm hospitality. Further, the confidence of the customers is gained by properly explaining the procedures and making them understand all the dos and don’ts of the services. Maharjan says that highest degree of ethics is maintained at the staff level to provide customer satisfaction to the clients. “Even if a customer does not have any idea about spa treatments, we suggest and recommend the right services for them along with service etiquettes,” he adds.</span></p>
<p class="Default">
	<span myriad="" style="font-size:10.0pt;
mso-bidi-font-family:">Availing services at the Heritage Spa requires at least two hours prior bookings. Maharjan says that people like his spa because it is run by aestheticians trained abroad. The spa is open from 8 am to 8 pm and can offer services to 10 people at once. He adds that 15 per cent of sales are made through Internet bookings.</span></p>
<p class="Pa10" style="text-align:justify">
	<span myriad="" style="font-size:10.0pt;
mso-bidi-font-family:"><img alt="heritage" border="1" height="360" hspace="10" src="http://newbusinessage.com/ckfinder/userfiles/Images/product_focus.jpg" style="font-size: 20px; line-height: 23px;" vspace="10" width="531" /></span></p>
<p class="Pa10" style="text-align:justify">
	<span style="font-size: 10pt;">An average monthly clientele comprises of 60 per cent expatriates as the spa is located right next to a number of NGOs and INGOs around where many expats and employees of these organisations reside. The rest 40 per cent clientele comprises the locals of the area.</span></p>
<p class="Default">
	 </p>
<p class="Default">
	<span style="font-size: 10pt; text-align: justify;">The Heritage Spa is planning to develop itself as a centre for excellent spa services. The spa has its own training academy and is planning to operate a CIDESCO (Comite International Desthetique Et De Cosmetologie) – an international organisation headquartered in Zurich that offers trainings and diplomas on Aesthetics – affiliated spa academy by 2014. Maharjan believes that having a spa academy will help filling the gap between demand and supply of qualified therapists in the market.</span></p>
<p class="Default">
	 </p>',
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			'article_category_id' => '39',
			'title' => 'Pilot Pens Everyone’s Favourite',
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			'content' => '<p>
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<p>
	<span class="A46"><span style="font-size:
40.0pt;line-height:115%;font-family:&quot;Calibri&quot;,&quot;sans-serif&quot;;mso-ascii-theme-font:
minor-latin;mso-hansi-theme-font:minor-latin;mso-bidi-font-family:&quot;Myriad Pro&quot;"><img alt="deepak kumar " border="1" height="189" hspace="10" src="http://newbusinessage.com/ckfinder/userfiles/Images/deepal.jpg" vspace="10" width="152" /></span></span><br />
	<strong>DEEPAL KUMAR PURKOTI<span class="A5"><span style="font-size:
10.0pt"><br />
	Sales and Marketing Manager</span></span><br />
	Fair Trade Pvt Ltd</strong></p>
<p class="Default" style="margin-left:.5in">
	<strong><span class="A5"><span style="font-size:10.0pt"><br />
	<br />
	<br />
	</span></span></strong><span class="A13"><span style="font-size:59.0pt;mso-bidi-font-family:
&quot;Times New Roman&quot;;mso-bidi-theme-font:minor-bidi">N</span></span><span style="font-size:10.0pt;
mso-bidi-font-family:&quot;Times New Roman&quot;;mso-bidi-theme-font:minor-bidi;
color:#211D1E">o matter how much writing is being tried to be replaced by modern tools like computers and tablet PCs, writing wouldn’t be complete without a pen. When a writer’s pen writes smooth like silk and bears a powerful brand name, it would prove a cherry on top. Young toddlers to professional executives and everybody in between would love a pen that writes at every occasion. Fair Trade Pvt Ltd (FTPL), the sole authorised distributor of Pilot pens for Nepal, brings pens for all from the well known stationery brand from Japan - Pilot. <br />
	</span></p>
<p class="Pa10" style="margin-left:.5in;text-indent:14.0pt">
	<img align="left" alt="pilot" border="1" height="252" hspace="10" src="http://newbusinessage.com/ckfinder/userfiles/Images/polit.jpg" style="margin:10px;padding:10px;" vspace="10" width="334" /><span style="font-size:10.0pt;color:#211D1E">The company has made easy availability of original pens from Pilot brand at affordable prices. Besides Kathmandu, rural Nepal also receives genuine products from Pilot through the dealerships spread over major cities in various parts of Nepal. Currently, the company has dealers in Biratnagar, Birgunj, Pokhara, Narayanghat and Hetauda, said Deepal Kumar Purkoti, Sales and Marketing Manager at FTPL. He said that the company is planning to open around three new showrooms in the near future. Through these showrooms, the company targets to reach every district and the remote villages too. <br style="mso-special-character:line-break" />
	</span></p>
<p>
	 </p>
<p class="Pa10" style="margin-left:.5in">
	<span style="font-size:10.0pt;
color:#211D1E">Though the company is distributing imported pens at the moment, it is also planning to produce pens within the country that bears the brand name of Pilot. “In around one-and-a-half-year’s time, FTPL is planning to produce certain products within the country,” Purkoti revealed. The company is planning to begin production in Nepal with a low segment pen and then expand into different categories. It is in the procedure to finalise the location for setting up the industry and investment volume. Similarly, the production capacity is not finalised yet, said Purkoti. <br style="mso-special-character:line-break" />
	</span></p>
<p class="Pa10" style="margin-left:.5in">
	<span style="font-size:10.0pt;
color:#211D1E">According to him, around 1.5 million Pilot pens are sold in Nepal annually. Super-GP, V5 series, board markers, permanent markers, gel pens, ball pens, mechanical pencils are some of the most popular categories of pens sold in Nepal. Similarly, V5 pens are popular among government officials and professionals as it is smooth and easy to write even in the Nepali paper used in government offices. Super GP, ball pens and gel pens are especially popular among students. At its showroom at Dharmapath in New Road, Pilot pens cost anywhere from Rs 15 to Rs 30,000. The fountain pen costing Rs 30,000 bears an 18-carat gold nib and cover holder. <br style="mso-special-character:line-break" />
	</span></p>
<p class="Pa10" style="margin-left:.5in;text-indent:14.0pt">
	<span style="font-size:10.0pt;color:#211D1E">The showroom was established around a year back with an investment of Rs 3 million. With the growing awareness among people about the brand, Purkoti revealed that the sale of Pilot pens lately is in an increasing </span><span style="font-size:10.0pt;mso-bidi-font-family:
&quot;Myriad Pro&quot;;color:#211D1E">trend. The company imports Pilot pens from Japan. <br style="mso-special-character:line-break" />
	</span></p>
<p class="Pa10" style="margin-left:.5in;text-indent:14.0pt">
	<span style="font-size:10.0pt;mso-bidi-font-family:&quot;Myriad Pro&quot;;color:#211D1E">Dr Grip is one such pen that has antiseptic, anti-smell, anti-sweating and bacteria-free characteristics. The pen, true to its name, is even certified by doctors and costs from Rs 500 to Rs 900. Likewise FriXion series pens can write, erase and rewrite. This pen is strongly discouraged for using in examinations and signing important documents. B2P is a distinctive ball pen that is made out of recycled water bottles. The store has over 250 varieties of Pilot pens. The company is planning to bring in pens that cost around Rs 10, in the near future. FTPL is going to add more products to the available range. These upcoming products include fountain pens, V series, sketch pens, mechanical pencils, gel markers, board markers, FriXion colour sets and other products for children. </span></p>
<p class="Pa10" style="margin-left:.5in;text-indent:14.0pt">
	<span style="font-size:10.0pt;mso-bidi-font-family:&quot;Myriad Pro&quot;;color:#211D1E">FTPL has held the dealership of Pilot pen in Nepal for 30 years. It is a trading company that is in existence for three decades and has been involved in importing garments, Pilot pens, Konica Minolta products and medical equipments among others. There are 40 employees working for the company. <br style="mso-special-character:line-break" />
	</span></p>
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	<span style="font-size:10.0pt;
mso-bidi-font-family:&quot;Myriad Pro&quot;;color:#211D1E">The company is revamping its marketing strategy. Purkoti says that old dealings will be done in newer ways like having wholesalers and distributors in all five development regions. Similarly, FTPL is planning to introduce promotional offerings for both customers and retailers. It will also undertake awareness campaigns by setting up stalls at schools and colleges to spread information to students. The company is planning to give away certain pens at the purchase amounting higher than a certain limit. Likewise, it is also thinking of giving special offers and gift hampers to dealers as well. <br style="mso-special-character:line-break" />
	</span></p>
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	<span style="font-size:10.0pt;
line-height:115%;mso-bidi-font-family:&quot;Myriad Pro&quot;;color:#211D1E">FTPL believes in delivering quality. Similarly, it envisions each and every person writing with Pilot pens. The company does not feel competition in the market on account of either quality or brand value. However, Purkoti accepts the competition with regards to the price. Purkoti feels the absence of legal mechanism to demoralise the availability of counterfeit products. He recommends the customers to look for quality rather than the price and always choose genuine products.<br style="mso-special-character:line-break" />
	</span></p>',
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			'article_category_id' => '38',
			'title' => 'Finding The Right Candidates',
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<p class="MsoNormal">
	&nbsp;</p>
<p>
	<span class="A35"><span style="font-size:15.0pt;line-height:
115%;font-family:&quot;Calibri&quot;,&quot;sans-serif&quot;;mso-ascii-theme-font:minor-latin;
mso-hansi-theme-font:minor-latin;mso-bidi-font-family:&quot;Myriad Pro&quot;">The HR department and the selection team should understand the interest of candidates and focus on the skills, capacities and passion of the candidates in order to select the right candidates for the organization.</span></span></p>
<p class="MsoNormal">
	<span class="A35"><span style="font-size:15.0pt;line-height:
115%;font-family:&quot;Calibri&quot;,&quot;sans-serif&quot;;mso-ascii-theme-font:minor-latin;
mso-hansi-theme-font:minor-latin;mso-bidi-font-family:&quot;Myriad Pro&quot;"><span style="mso-tab-count:1">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </span></span></span></p>
<p class="MsoNormal">
	<span style="font-size:11.5pt;line-height:115%;mso-bidi-font-family:
&quot;Myriad Pro&quot;;color:#221E1F">Knowledge, skills, aptitudes, interest, body language and attitudes are major factors which determine in selecting right candidates.<br />
	<br />
	<img alt="mangement" border="1" height="208" hspace="10" src="http://www.newbusinessage.com/ckfinder/userfiles/Images/management(3).jpg" vspace="10" width="336" /><br />
	</span></p>
<p class="Pa10" style="text-align:justify;text-indent:14.0pt">
	<span class="A13"><span style="font-size:
59.0pt">S</span></span><span style="font-size:10.0pt;mso-bidi-font-family:&quot;Myriad Pro&quot;;
color:#221E1F">creening and selecting the right candidates for organizations has been a major and challenging role for Human Resource (HR) professionals in various organizations. The process of collecting and evaluating information about an individual in order to extend an offer of employment is called employee selection. Through effective selection, an organization can maximize the probability that its new employees will have the necessary KSAs (knowledge, skills, and abilities and attitudes) to do the jobs they were hired to do. Effective employee selection is a critical component of a successful organization. <br />
	<br />
	</span><br />
	<strong><span style="font-size:11.5pt;
mso-bidi-font-family:&quot;Myriad Pro&quot;;color:#221E1F">Reach Out to Applicants</span>&nbsp; </strong><span style="font-size:10.0pt;mso-bidi-font-family:&quot;Myriad Pro&quot;;color:#221E1F"><br />
	<br />
	Screening and selecting candidates are comprehensive processes. Reaching out to the eligible candidates is the first step for successful recruitment. In the Nepali context, people prefer to read Nepali text despite their ability to read English content. Therefore, publication of vacancy advertisements with required details in Nepali magazines can have a comparative benefit. Similarly, the development and use of job specific forms helps to screen the serious and capable candidates. The process should be simple and screening criteria must be flexible that would help the HR professionals to find the right candidates. </span></p>
<p class="MsoNormal">
	&nbsp; </p>
<p class="Pa15" style="margin-top:5.0pt">
	<strong><span style="font-size:11.5pt;
mso-bidi-font-family:&quot;Myriad Pro&quot;;color:#221E1F">Reference Checking</span></strong></p>
<p class="Pa15" style="margin-top:5.0pt">
	 </p>
<p class="MsoNormal">
	<strong>&nbsp;</strong><span style="font-size:10.0pt;mso-bidi-font-family:&quot;Myriad Pro&quot;;color:#221E1F">Reference checking is one of the methods that have been used by various organizations in selecting the right candidate. It is recommended that an option should be given to the candidate regarding referee change if the candidate thinks that the mentioned referee cannot correctly explain his/her details during the interview phase. Therefore, a referee should be someone who knows the candidate well and who can be easily approached by the organization when required but should not necessarily be someone holding a strong position.</span> </p>
<p class="Pa10" style="text-align:justify">
	<span style="font-size:10.0pt;
mso-bidi-font-family:&quot;Myriad Pro&quot;;color:#221E1F">Similarly, reference check has to be done from both ends i.e. previous employers and also from the candidate themselves in order to avoid biasness. There are Credit information Bureaus in a few organizations that conduct reference checking for their respective organizations. </span></p>
<p class="MsoNormal">
	&nbsp;<img alt="employer" border="1" height="208" hspace="10" src="http://www.newbusinessage.com/ckfinder/userfiles/Images/men.jpg" vspace="10" width="336" /></p>
<p class="MsoNormal">
	 </p>
<p class="Pa15" style="margin-top:5.0pt">
	<strong><span style="font-size:11.5pt;
mso-bidi-font-family:&quot;Myriad Pro&quot;;color:#221E1F">Employer Branding</span></strong></p>
<p class="Pa10" style="text-align:justify">
	<strong>&nbsp;</strong><span style="font-size:10.0pt;
mso-bidi-font-family:&quot;Myriad Pro&quot;;color:#221E1F">Candidates prefer to join Banks/INGOs and the major reason for it is the availability of transparency in terms of facilities. Generally, the limited companies have good employer brands in the market due to their transparency in facilities. Effective employer branding would contribute in reaching and attracting the right and competent candidates. </span></p>
<p class="MsoNormal">
	&nbsp; </p>
<p class="Pa15" style="margin-top:5.0pt">
	<strong><span style="font-size:11.5pt;
mso-bidi-font-family:&quot;Myriad Pro&quot;;color:#221E1F">Interview</span></strong></p>
<p class="MsoNormal">
	<strong>&nbsp;</strong><span style="font-size:10.0pt;
mso-bidi-font-family:&quot;Myriad Pro&quot;;color:#221E1F">Some of the practices used by various organizations during interviews are a comparison between responses of the questions before normal situation and during stressed situation. It gives a good view of the candidate’s stress management capacity as strange questions are asked to candidates just to evaluate problem handling skills.</span> </p>
<p class="Pa10" style="text-align:justify">
	<span style="font-size:10.0pt;
mso-bidi-font-family:&quot;Myriad Pro&quot;;color:#221E1F">The HR department and the selection team should understand the interest of candidates and focus on the skills, capacities and passion of the candidates in order to select the right candidates for the organization. It is found that a candidate’s interest is of big importance and most of the time, interested and less experienced candidates outperform experienced but less interested candidates.</span></p>
<p class="MsoNormal">
	&nbsp;</p>
<p class="Default">
	<strong><span style="font-size:11.5pt;
mso-bidi-font-family:&quot;Myriad Pro&quot;;color:#221E1F">Challenges</span> </strong><br />
	 </p>
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	<span style="font-size:10.0pt;
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	<span class="A2"><span mso-bidi-font-family:="" myriad="" style="font-family:">By Nobuhiro Tsuboi</span></span></p>
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	<span class="A35"><span myriad="" style="font-size:15.0pt;line-height:
115%;font-family:">It is said that the involvement in a microfinance programme has enabled to increase their savings.</span></span></p>
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<p class="Pa24">
	<span class="A35"><span myriad="" style="font-size:15.0pt;line-height:
115%;font-family:"><span myriad="" style="font-size:15.0pt;mso-bidi-font-family:">“We are planning to open around three new showrooms in the near future. Through these showrooms, the company targets to reach every district and the remote villages too.” </span></span></span></p>
<p class="Default">
	<span class="A35"><span myriad="" style="font-size:15.0pt;line-height:
115%;font-family:">&nbsp;</span></span></p>
<p class="Default">
	<span class="A35"><span myriad="" style="font-size:15.0pt;line-height:
115%;font-family:">&nbsp;<img alt="depaak kumar purkot" border="1" height="189" hspace="10" src="http://www.newbusinessage.com/ckfinder/userfiles/Images/DEEPAL-KUMAR-PURKOTI.jpg" vspace="10" width="152" /></span></span></p>
<p class="MsoNormal">
	<span class="A35"><span myriad="" style="font-size:15.0pt;line-height:
115%;font-family:"><strong><span class="A5"><span style="font-size:10.0pt">DEEPAL KUMAR PURKOTI <br />
	Sales and Marketing Manager </span></span></strong><br />
	<strong><span class="A5"><span myriad="" style="font-size:10.0pt;line-height:
115%;font-family:">Fair Trade Pvt Ltd<br />
	</span></span></strong><br />
	</span></span></p>
<p class="Pa10" style="text-align:justify;text-indent:14.0pt">
	<span class="A13"><span style="font-size:
59.0pt">I</span></span><span myriad="" style="font-size:10.0pt;mso-bidi-font-family:">n rural Nepal, microfinance has more than 20 years’ history with Cooperative Act 1992 and people’s expectation to reduce rural poverty. It is said that the involvement in a microfinance programme has enabled to increase their savings.* This report introduced real achievement on the clients’ saving data deposited at SFCL Manahari in Makwanpur District.**</span></p>
<p class="Pa10" style="text-align:justify;text-indent:14.0pt">
	<strong><span myriad="" style="font-size:11.5pt;
mso-bidi-font-family:"><br />
	<img alt="financial" border="1" height="811" hspace="10" src="http://www.newbusinessage.com/ckfinder/userfiles/Images/financial(3).jpg" vspace="10" width="600" /><br />
	<br />
	Facts on the Ground</span><br />
	<br />
	</strong><span myriad="" style="font-size:10.0pt;mso-bidi-font-family:">First of all, I show the changes of 484, all continuous shareholder families’ financial assets for the period of July 2006-July 2011. Its growth ratio is 140.3 per cent as shown in Table 1. ‘Family financial assets’ consist of all financial assets deposited at the SFCL and belong to individual families i.e. shares, compulsory group savings, each voluntary individual savings and family members’ individual savings. ‘Continuous shareholder’ means those who were shareholders continuously at least from 2006 to 2011. Incidentally, the number of shareholders was 771 in 2006 and 1,155 in 2011, of which 484 shareholders have been continuous shareholders for the period. </span></p>
<p class="Pa10" style="text-align:justify;text-indent:14.0pt">
	<span myriad="" style="font-size:10.0pt;mso-bidi-font-family:">As the price index of 2011 is estimated as 155 for 2006=100, two groups of ‘65 per cent and more’ and ’55-65 per cent’ i.e. 79.3 per cent of continuous shareholders realized growth in real price terms. I watched the group of ‘65 per cent and more’ i.e. 75.6 per cent of the total increased their assets by 10 per cent and more in real price terms, and further from that, their average growth ratio is 308.2 per cent.</span><br />
	<br />
	<br />
	<strong><span myriad="" style="font-size:11.5pt;
mso-bidi-font-family:">Investment by their Own Assets</span><br />
	<br />
	</strong><span myriad="" style="font-size:10.0pt;mso-bidi-font-family:">In spite of neglecting investment by their own financial assets for this period, 3/4th of the total continuous shareholders realized 10 per cent and more growth in real price terms. If we consider their investments by using their own financial assets, the situation of the changes will be different. Especially, as to the ‘Less than 0 per cent’ group with 40 shareholders, their average amount of initial assets was biggest of all groups and they would have enough chance to invest. Their negative growth seems to be partially because of these investments.</span><span myriad="" style="font-size:11.5pt;
mso-bidi-font-family:"><br />
	<br />
	<br />
	</span><strong><span myriad="" style="font-size:11.5pt;
mso-bidi-font-family:">Improvement in Distribution of Assets</span><br />
	<br />
	</strong><span myriad="" style="font-size:10.0pt;mso-bidi-font-family:">The distribution of assets improved significantly as shown in Table 2 and Figure 1. I classified all the 484 continuous shareholders into three classes: the Top of 10 per cent of the total (48 shareholders), the Middle of 30 per cent (144) and the Low of 60 per cent (292). The class of ‘Top’ consists of members having largest financial assets among all. The assets accumulation of ‘Top’ decreased from 42.5 per cent in 2006 to 37.1 per cent in 2011. On the contrary, assets accumulation of ‘Low’ increased from 20.2 per cent to 27.5 per cent. </span></p>
<p class="Pa10" style="text-align:justify;text-indent:14.0pt">
	<span myriad="" style="font-size:10.0pt;mso-bidi-font-family:">I confirmed the improvement of assets accumulation by Gini coefficient as shown in Figure 1. It improved by 0.104 point from 0.576 in 2006 to 0.472 in 2011. From the view of asset equity, the above change is desirable. </span></p>
<p class="MsoNormal">
	&nbsp;<img alt="shraeholder" border="1" height="328" hspace="10" src="http://www.newbusinessage.com/ckfinder/userfiles/Images/shareholder.jpg" vspace="10" width="295" /></p>
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	 </p>
<p class="Default">
	<strong><span myriad="" style="font-size:11.5pt;
mso-bidi-font-family:">Character of the study</span> </strong><br />
	 </p>
<p class="MsoNormal">
	<span myriad="" style="font-size:10.0pt;mso-bidi-font-family:">This study has the following three characteristics: Analysis of the change in financial assets belonging to individual families for five years from 2006 to 2011, Analysis using SFCL share and saving data, and Abstract of 484 ‘continuous families’ from among all shareholders.</span></p>
<p class="Pa10" style="text-align:justify;text-indent:14.0pt">
	<span myriad="" style="font-size:10.0pt;mso-bidi-font-family:">I analyzed continuous shareholders because there are big differences in amount of assets among shareholders with different passage years as shareholders of SFCL as shown in Table 3. It means that we had to exclude new beneficiaries whose involvement years are relatively shorter. In this study, I excluded shareholders with less than five years passage. </span></p>
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	 </p>
<p class="Pa10" style="text-align:justify;text-indent:14.0pt">
	<span myriad="" style="font-size:10.0pt;mso-bidi-font-family:">(This survey was conducted with the cooperation of Nepal National Agricultural Cooperative Central Federation Ltd and JICA Nepal Office in February-July 2012.)</span><br />
	<br />
	<span myriad="" style="font-size:11.5pt;
mso-bidi-font-family:">Further Subjects</span><br />
	<br />
	<span myriad="" style="font-size:10.0pt;mso-bidi-font-family:">I cannot say whether we can observe same trends in the achievement of other SFCLs and rural microfinance institutions. I hope this kind of study will be conducted in the future as well and at least 2-3 institutions in each microfinance group. </span></p>
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	<strong>&nbsp;</strong></p>
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	<strong><span myriad="" style="font-size:8.0pt;line-height:115%;mso-bidi-font-family:
">Tsuboi is a Retired Professor of University of Tsukuba, Japan. He can be reached via email at <a href="mailto:tsuboin43@nifty.com">tsuboin43@nifty.com</a>.</span></strong></p>
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">&nbsp;</span></strong></p>
<p class="Pa15" style="margin-top:5.0pt">
	<strong><span myriad="" style="font-size:11.5pt;
mso-bidi-font-family:">References: </span></strong></p>
<p class="Pa32" style="margin-left:14.0pt;text-align:justify;text-indent:-14.0pt">
	<strong><span myriad="" style="font-size:10.0pt;mso-bidi-font-family:">* Nara Hari Dhakal, “Impact of Microfinance Services on Poverty Reduction in Nepal”, INAFI, SAP-Nepal, 2005, p.46. </span></strong></p>
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	<strong><span myriad="" style="font-size:10.0pt;line-height:115%;mso-bidi-font-family:
">** SFCL: Small farmer agricultural cooperative ltd. SFCL Manahari has a history of ‘small famer development </span></strong></p>
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	<strong><span myriad="" style="font-size:10.0pt;line-height:115%;mso-bidi-font-family:
">programme’ of ADB/N in 1980, and it was converted to SFCL in 1998. The number of shareholders is 1,155 at July 2011.</span></strong></p>
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	<strong><span myriad="" style="font-size:10.0pt;line-height:115%;mso-bidi-font-family:
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			'description' => 'In rural Nepal, microfinance has more than 20 years’ history with Cooperative Act 1992 and people’s expectation to reduce rural poverty. It is said that the involvement in a microfinance programme has enabled to increase their savings.* This report introduced real achievement on the clients’ saving data deposited at SFCL Manahari in Makwanpur District.**',
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	<span mso-bidi-font-family:="" myriad="" style="font-size:24.0pt;mso-bidi-font-size:11.0pt;
line-height:115%;font-family:">‘We have been Able to Address the Problems Faced by Nepali Traders’</span></p>
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	<span class="A24"><span style="font-size:14.0pt">Viraj Rai </span></span><span class="A24"><span style="font-size:14.0pt;color:#221E1F">is the Line Manager of TLPL Shipping &amp; Logistics Pvt Ltd. </span></span></p>
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<p class="MsoNormal">
	<span myriad="" style="font-size:11.5pt;line-height:115%;mso-bidi-font-family:
">The company is a member of Transworld Group that has interests in wide ranging areas from shipping, ship owning, ship management, agency business and forwarding to logistics and supply chain management. To ease the export/ import business into Nepal, the company is expanding its business in Nepal by offering Thru B/L service thereby transforming the ICD of Birgunj either into a truly functional hinterland dry port of loading to ICD or into a Dry Port. Rai was in Kathmandu to participate in a trade meet organized by Nepal Foreign Trade Association. In an interview with New Business Age, Rai has emphasized on the need of transport facilities for the importers operating international trade in Nepal. Excerpts:</span></p>
<p class="MsoNormal">
	 </p>
<p class="Pa23" style="margin-top:5.0pt">
	<strong><span myriad="" style="font-size:11.5pt;line-height:115%;mso-bidi-font-family:
">&nbsp;</span><span myriad="" style="font-size:10.0pt;
mso-bidi-font-family:">Could you please highlight the reason for your visit? </span></strong></p>
<p>
	<span myriad="" style="font-size:10.0pt;
mso-bidi-font-family:">The reason for visiting Nepal this time has been to organize the trade meet, a long-term demand of the Nepal trade. So, we are promoting it through BL service, whereby importers in Nepal can greatly scan by availing our single window point-to-point total logistic solution. It will facilitate picking up the cargo from the port of origin or from the factory of the supplier and move it up to ICD Birgunj and issue them one single multimodal document BL for their entire service. As a result, they end up saving huge amount of cost. In normal convention system right now, they pay for detentions or delays from Kolkata port right up to ICD Birgunj. Moreover, we take care of that by providing that service and giving delivery to them in Birgunj and any delay in between is not a cost for them as we cover that risk in our service.</span><span myriad="" style="font-size:10.0pt;
mso-bidi-font-family:"><br />
	<br />
	The whole purpose of our visit was to promote our services especially in Kathmandu. We have started this service more than a year ago. Earlier, it was introduced in Birgunj under the Birgunj Chamber of Commerce, and we wanted to fine tune and improve it further. Therefore, we have been learning, fine-tuning, and improving ourselves during this period. We have felt in recent times that we are ready to take this to the next level. That is why we felt the need to organize this trade meet and address the entire trade in Kathmandu </span></p>
<p class="MsoNormal">
	 </p>
<p class="MsoNormal">
	<strong>&nbsp;</strong></p>
<p class="Pa23" style="margin-top:5.0pt">
	<strong><span myriad="" style="font-size:10.0pt;
mso-bidi-font-family:">What types of problems are the Nepalis importers facing while bringing goods from different ports through ICD Birgunj? </span></strong></p>
<p class="Pa10">
	<span myriad="" style="font-size:10.0pt;mso-bidi-font-family:">Since Nepal is a landlocked country, it is wholly dependent on nearby Kolkata ports. There are many problems put forward by Nepali importers while bringing goods from different ports. To begin with, they do not have control over the shipment period or the time and the container in sea. However, once it reaches the land, there is still uncertainty because there may be some delays at the Kolkata port in loading the container or delays in the train itself. Throughout this entire process, they have to depend on outside agencies for information flow and updates. Currently, they have to depend on shipping land to know the status when the container would reach Kolkata. They need to depend on the forwarder or the CHA to know when the container would be cleared at Kolkata port. Then they need to know when it would be loaded on wreck after which they need to follow up to know when the ship will reach Birgunj. In our service, we do away with all this. We give a single window solution and all the information flow is provided locally here at Birgunj. Therefore, this is a big solution to one of the biggest problems that Nepali trade is facing. </span></p>
<p>
	<span myriad="" style="font-size:10.0pt;
mso-bidi-font-family:">At the same time, because we are covering TLPL up to Birgunj, we have seen most of them paying huge amount of detention cost in the current conventional system. Due to this, crores of rupees is being paid to Indian shipping agents for the time taken for the containers to come from Kolkata and to go back which is normally much beyond the free time given by shipping lines. So, in our case, we cover that risk by providing service up to Birgunj so that there is further cost saving to the trade. These are two of the major problems being faced by the Nepali traders and we have been able to address it. At our level, we cannot address other problems that have been faced by the traders. It has to be done in accordance with India- Nepal treaties. However, the problems that we are addressing are within our control as it is based around shipping and land logistics. </span></p>
<p class="MsoNormal">
	 </p>
<p class="Pa23" style="margin-top:5.0pt">
	<strong><span myriad="" style="font-size:10.0pt;
mso-bidi-font-family:">What were the queries from the importers during the trade meet? </span></strong></p>
<p>
	<span myriad="" style="font-size:10.0pt;
mso-bidi-font-family:">At the end of it, everybody is looking at the bottom line. Therefore, they look at ways to reduce the cost. The feedback we received from the audience is that sometimes the Kolkata port is congested. The next concern was how fast the container can be loaded for Birgunj. In the present scenario, it is not possible to give a guaranteed time. Then there is addressing of issues on a larger scale from government-to-government through transit treaty or rail service agreement between the two nations. </span> <br />
	<strong>&nbsp;</strong></p>
<p class="Pa23" style="margin-top:5.0pt">
	<strong>&nbsp;<span myriad="" style="font-size:10.0pt;
mso-bidi-font-family:">How are you going to address the problems faced by the importers and exporters?</span></strong></p>
<p class="MsoNormal">
	<strong>&nbsp;</strong><span myriad="" style="font-size:10.0pt;
mso-bidi-font-family:">One is the timely flow of information. There are also times when the traders find our rates little high so they give their business to the traditional forwarders. However, they are still in touch with us to try to get information that possibly they are not getting as accurately from their existing forwarders. Therefore, we do get calls regularly from importers in Nepal asking us to cross check on information. In the present scenario, they probably want to verify the information they are getting. In our service, the information flow will come from us directly and given to them in Nepal. They do not need to call at Kolkata as the entire single window solution will be given here in Nepal itself.<br />
	<br />
	The second one is the cost element that we see on an average. There is a huge amount of detention cost being paid because of delays between Kolkata and Birgunj and empty containers going back. In our service, the container is going to be allowed up to Birgunj after which we plan to give three days free time for local importers at Birgunj and five days for importers from Kathmandu and Pokhara. According to me, these are ample time frames for the importers to empty containers and send them back to Birgunj. Once they return the containers to Birgunj, their responsibility ends there. They have no detentions to worry about because it’s us who cover that cost element. This is a two-fold benefit and we will see how we can add further value to this entire service. Along the line, we would also look for cutting down on costs that are within our control.</span></p>
<p>
	<strong>&nbsp;</strong></p>
<p class="MsoNormal">
	<strong><span myriad="" style="font-size:10.0pt;
mso-bidi-font-family:">What are the weaknesses of Nepali exporters/importers while using your services?</span> <br />
	</strong></p>
<p class="MsoNormal">
	<span myriad="" style="font-size:10.0pt;mso-bidi-font-family:">Many traders import from China. There seems to be a miscommunication between the importer and supplier. Therefore, when we approach the supplier, we find it has not been properly informed that we are the nominated carriers. We see this mistake on flow of information to the suppliers a number of times. The other mistake is about error in documentation. There are times when the information provided to us is not accurate and we have to give back the documents to the importers. In addition, sometimes the documents sent for clearing the container at Kolkata are incomplete. These are small mistakes but they definitely lead to delays and increase the cost. Luckily, we have the provision in Indian customs to clear the cargo through copies of the documents so that it saves time while couriering the originals. With time, the number of mistakes has lowered as our customers are more aware now. With the new customers, we have to possibly educate them beforehand and see how they can avoid these mistakes.</span><strong><br />
	<br />
	</strong></p>
<p class="Pa23" style="margin-top:5.0pt">
	<strong><span myriad="" style="font-size:10.0pt;
mso-bidi-font-family:">In your opinion, how can Nepali traders become more competitive?</span></strong></p>
<p class="MsoNormal">
	<span myriad="" style="font-size:10.0pt;mso-bidi-font-family:">There is certainly a disadvantage being a landlocked country where you are dependent on ports. However, by utilizing our services, the traders would get advantage of cost which will make them competitive. In addition, if they focus on error free documentation and timely information flow, it will lead towards reduction of mistakes and eventually provide cost competitiveness to them. In today’s world when everything is online, I am sure that they can utilize the tools being offered by technology to bring down costs. We have seen in the past how Nepal has played its role in the export of garments and carpets. Therefore, there is an advantage of labor and craftsmanship somewhere along the line. If the traders can change their set mindset and accept the new technological services provided by us, it will definitely be beneficial for them.<br />
	<br />
	<br />
	</span></p>
<p class="MsoNormal">
	<strong><span myriad="" style="font-size:10.0pt;
mso-bidi-font-family:">The Nepali traders complain that they do not get information of their goods after they load it at the port to be sent to Nepal. What is your take on it?</span> <br />
	</strong></p>
<p class="MsoNormal">
	<span myriad="" style="font-size:10.0pt;mso-bidi-font-family:">Most of the customers who had the problem of not getting timely information are not particularly going by the system of traditional movement right now. This is where they have answered their own problem. We have assured them timely information and movement of the containers provided they give us the chance. Our service is the solution to their existing problems.</span></p>
<p class="MsoNormal">
	 </p>
<p class="Pa23" style="margin-top:5.0pt">
	<strong><span myriad="" style="font-size:10.0pt;
mso-bidi-font-family:">They also say that your service is a bit expensive and takes more time in comparison to other modes of transportations to Nepal. What do you say?</span></strong></p>
<p class="MsoNormal">
	<span myriad="" style="font-size:10.0pt;line-height:115%;mso-bidi-font-family:
">We have not seen any importers who have not paid detentions. In fact, most of them are paying it. They need to look at their cost and compare it. When we prepare quotations, most of the customers ask for cost breakup till Kolkata. This is not possible for us as we offer complete package solution. At the end of the day, we say that give us a chance to serve you. Our existing customers believed in us and subscriber to our idea. Moreover, those who started with us have stuck to us so far. We can always negotiate and come to an agreeable rate. Nevertheless, I can assure that in the long run, the cost benefit to the Nepali traders would be far more than what they think right now.</span></p>
<p class="MsoNormal">
	<span myriad="" style="font-size:10.0pt;line-height:115%;mso-bidi-font-family:
">&nbsp;<br />
	<br />
	<br />
	</span></p>
<p class="MsoNormal">
	<span mso-bidi-font-family:="" myriad="" style="font-size:24.0pt;mso-bidi-font-size:11.0pt;
line-height:115%;font-family:">‘A Restaurant is a Personality Driven Business’</span></p>
<p>
	<br />
	<img alt="harikarki" border="1" height="354" hspace="10" src="http://www.newbusinessage.com/ckfinder/userfiles/Images/Hari-Karki(1).jpg" vspace="10" width="257" /></p>
<p class="MsoNormal">
	<span class="A24"><span style="font-size:14.0pt">Hari Karki </span></span><span class="A24"><span style="font-size:14.0pt;color:#221E1F">is the owner of GURU, a Hong Kong based Indian Restaurant as well as a Spanish eatery. </span></span> <br />
	 </p>
<p class="MsoNormal">
	<span myriad="" style="font-size:11.5pt;line-height:115%;mso-bidi-font-family:
">He started his career as a trainee in Hotel Soaltee Oberoi in 1993. Besides Food &amp; Beverage business, he is involved with Universal Music Company. Karki, permanent resident of Hong Kong is also involved in a website business associated with Hong Kong Jockey Club (HKJC). The project is funded by HKJC and is worth 15 million Hong Kong dollars. In an interview with New Business Age, Karki divulged his plans for business expansion in Kathmandu in the near future. Excerpts:<br />
	</span></p>
<p class="MsoNormal">
	 </p>
<p class="MsoNormal">
	<strong><span myriad="" style="font-size:11.5pt;line-height:115%;mso-bidi-font-family:
">&nbsp;</span></strong></p>
<p class="Pa23" style="margin-top:5.0pt">
	<strong><span myriad="" style="font-size:10.0pt;
mso-bidi-font-family:">Would you like to kindly share some experiences regarding early days in your career?<br />
	</span></strong></p>
<p class="Pa10" style="text-indent:14.0pt">
	<span myriad="" style="font-size:10.0pt;
mso-bidi-font-family:">I started my hotel career as a trainee in Soaltee Oberoi in 1993 that lasted for nine months. Although the training was very basic, it was helpful for building the foundation of my career. After that, I joined Hotel Himalaya, which was a very important decision for my career. It provided me a strong base and I received support from many good colleagues there. That is where I learned the value of decision-making procedures. </span></p>
<p class="MsoNormal">
	<strong>&nbsp; <br />
	<span myriad="" style="font-size:10.0pt;
mso-bidi-font-family:">How was your experience working in the Food and Beverage industry abroad? <br />
	<br />
	</span></strong><span myriad="" style="font-size:10.0pt;
mso-bidi-font-family:">While working at Hotel Himalaya, I thought about pursuing higher studies. So, I went to Bahrain for management studies and afterwards, worked for a year there. Thereafter, I went to Hong Kong for holidays. That is how I landed in Hong Kong. In the meanwhile, I resigned from the Bahrain hotel I was working at. In Hong Kong, I started working at Curry Pot Restaurant as one of my friends was working there already. They were looking for manager at that time. The moment I landed there, I realized the tremendous potential that the restaurant had. I started working and within a few months, I brought about many changes within the restaurant. We were able to open three outlets of the restaurant soon. We also created a brand “Curry in a Hurry” fast food chain in Hong Kong. Later, I was given 25 per cent equity and there were 145 employees working under me.</span></p>
<p class="MsoNormal">
	<span myriad="" style="font-size:10.0pt;mso-bidi-font-family:">One important aspect of this industry is to make customers feel that we care for them and at the same time, not ready to compromise with high standards. You need to improvise on the quality of food, service, and everything else. Hong Kong is a very competitive city and there are unique ideas and people everywhere. You need to compete with them in order to capture the market.</span></p>
<p class="MsoNormal">
	<strong>&nbsp;</strong></p>
<p class="Pa23" style="margin-top:5.0pt">
	<strong><span myriad="" style="font-size:10.0pt;
mso-bidi-font-family:">Are you involved in any other business currently apart from Food and Beverages business?</span></strong></p>
<p class="MsoNormal">
	<span myriad="" style="font-size:10.0pt;line-height:115%;mso-bidi-font-family:
">Besides Food and Beverage business, I am involved with Universal Music Company. We are involved in website business associated with Hong Kong Jockey Club (HKJC). The project is funded by HKJC and is a 10 million Hong Kong dollar project with additional five million for marketing. This makes the project worth a total of Rs 15 million Hong Kong dollars. The reason for setting this website is for lottery, horse racing, football gambling etc. Since HKJC cannot directly promote gambling, they create lifestyle websites called as Fasttrack.hk to encourage youths towards such activities. It is the Asian perspective of entertainment and we promote it as an essence of lifestyle. We update our subscribers with new information regarding fashion, music, politics etc. <br />
	</span></p>
<p class="MsoNormal">
	&nbsp;Currently, I am planning to expand the Food and Beverage business. I am also working on a Brazilian concept outlet. I think this is a good idea as Brazil is hosting the 2014 Football World Cup. At that time, the craze for Brazil will be higher therefore, we are working on that aspect. I am also looking forward to invest in Kathmandu so I am trying to find right partners here to start unique ventures.</p>
<p class="MsoNormal">
	<strong><strong>&nbsp;</strong></strong></p>
<p class="Pa23" style="margin-top:5.0pt">
	<strong><span myriad="" style="font-size:10.0pt;
mso-bidi-font-family:">What are the new trends, besides food, to run restaurants successfully in today‘s age?</span></strong></p>
<p class="MsoNormal">
	<span myriad="" style="font-size:10.0pt;
mso-bidi-font-family:">I think the new trend is the people who run such businesses. Besides food, interior plays a vital role and adds soul to restaurants. It is a personality driven business. It could be the personality of the manager, waiters, or the restaurant itself. If you could put the soul of your staffs to provide service to your customers, they matter more than the expensive furniture, wines, or any other aspect of the restaurants.</span></p>
<p class="Pa10" style="text-indent:14.0pt">
	<span myriad="" style="font-size:10.0pt;
mso-bidi-font-family:">Therefore, gone are the days when the hotel employees treated the customers with mere words. These days, there is a new trend in Hong Kong where the customers and the employees of restaurants or hotels treat each other as friends. </span></p>
<p class="Pa10" style="text-indent:14.0pt">
	&nbsp;<br />
	<strong><span myriad="" style="font-size:10.0pt;
mso-bidi-font-family:">Would you like to explain about the potential cutleries that are to be used in restaurants?</span><br />
	<br />
	</strong><span myriad="" style="font-size:10.0pt;
mso-bidi-font-family:">Everybody wants to be updated these days. When anything comes to your table, it is very essential to work on details. You want to use contemporary utensils to catch up with the changing desires of the customers. Having said so, I would like to add that the look of the equipments and the cutleries should match with the theme of the restaurant. If you are running a modern restaurant, you cannot afford to place old cutleries there. Therefore, you need to update accordingly. </span></p>
<p class="MsoNormal">
	&nbsp;<strong> <br />
	</strong></p>
<p class="Pa23" style="margin-top:5.0pt">
	<strong><span myriad="" style="font-size:10.0pt;
mso-bidi-font-family:">What are the areas that Nepali hoteliers should improve upon?</span></strong></p>
<p class="MsoNormal">
	<span myriad="" style="font-size:10.0pt;
mso-bidi-font-family:">I came here a couple of years ago. The sad thing is that when I went to the same place, I found that the menu had not changed. The good part was that the people working there were the same. However, it was clear that they were not being able to keep pace with the trend. The question is not only about wanting to upgrade but whether the entrepreneurs are actually doing it in practice. However, at the end of the day, it’s the customers who decide about the change.</span></p>
<p class="MsoNormal">
	<span myriad="" style="font-size:10.0pt;
mso-bidi-font-family:">Customers visit the restaurants and hotels to feel the difference. However, if they get the same boring treatment through the services of hotels and restaurants, they would not enjoy it. Therefore, in this particular business, the first thing is to upgrade our services in a similar manner we upgrade our life itself.</span></p>
<p class="MsoNormal">
	<strong><strong>&nbsp;</strong></strong></p>
<p class="Pa23" style="margin-top:5.0pt">
	<strong><span myriad="" style="font-size:10.0pt;
mso-bidi-font-family:">It is said that the services of the five star hotels here in Nepal is equivalent to the services of three star hotels abroad. What is your comment on this comparison?</span></strong></p>
<p class="MsoNormal">
	<span myriad="" style="font-size:10.0pt;mso-bidi-font-family:">Well, I do not think that the comparison is fair. The categorization of hotels or restaurants depends on the kind of service you provide to your customers. For instance, there are many ways of providing service to your customers. Serving is an art in itself which sets you apart from others. It is an important aspect that every restaurants and hotels should understand while providing services to their clients.</span></p>
<p class="MsoNormal">
	 </p>
<p class="Pa23" style="margin-top:5.0pt">
	<strong><span myriad="" style="font-size:10.0pt;
mso-bidi-font-family:">What improvements should the service provider bring to achieve perfection in services provided to the clients? </span></strong></p>
<p class="MsoNormal">
	<strong>&nbsp;</strong><span myriad="" style="font-size:10.0pt;mso-bidi-font-family:">I think, to begin with, the trainer should get the proper training themselves. Then only, they will be able to train their staffs accordingly. When you do not update yourself, you will not come to know about new trends in the business. These days, customers seldom complain about your service. They simply stop coming to your place. If your customers complain about your services, you must take it positively and think of these customers as your well-wishers. People do not have the time to point out your weaknesses all the time so it is your responsibility to upgrade your service in accordance with the present time. Tell us something about your restaurant and the investment figures involved.</span></p>
<p class="Pa10">
	<span myriad="" style="font-size:10.0pt;mso-bidi-font-family:">The theme of my restaurant is simple and it is unique that in a very short period of time, the restaurant has created a brand of its own. There has been a breakthrough in Indian cuisine and you can find good reviews and comments about my restaurants on my website. It has been almost three-and-a-half years now. The investment in the restaurant is 2.5 million Hong Kong dollars while the annual turnover is around 4.2 million Hong Kong dollars. With an area of 1500 square feet, the seating capacity of the restaurant is 175 people. <br />
	<br />
	</span></p>
<p class="MsoNormal">
	<strong><span myriad="" style="font-size:10.0pt;
mso-bidi-font-family:">When you travel around the world, you can see many Indian restaurants, however, there are very few Nepali restaurants abroad. Is it because we lack varieties to offer in terms of our cuisine?&nbsp;&nbsp;&nbsp; </span></strong></p>
<p class="MsoNormal">
	<span myriad="" style="font-size:10.0pt;mso-bidi-font-family:">I do not agree with this observation of yours. In my opinion, you have to study the market before you start any business. For instance, if you target only Indian customers at Indian restaurants, you will fail. You have to think holistically. In Hong Kong also, Nepalis have great scope everywhere as the people of Hong Kong have tremendous respect for Nepalis. I also serve some Nepali delicacies at my restaurants. We have enough scope to serve Nepali delicacies to the customers in Hong Kong.</span>&nbsp; <br />
	 </p>
<p class="MsoNormal">
	<strong><span myriad="" style="font-size:10.0pt;
mso-bidi-font-family:">How are Nepali businesspersons doing in Hong Kong?</span> <br />
	</strong></p>
<p class="Pa10">
	<span myriad="" style="font-size:10.0pt;mso-bidi-font-family:">The involvement of Nepalis in Food and Beverage business is remarkable. They have left even the westerners behind, in this respect. Let me give you one example. Few months ago, two young Nepali men opened two new outlets called Escape and China Bar with an investment of 16 million Hong Kong dollars. They are doing fabulous business In terms of other businesses, Nepalis are involved in import/export, construction, travel agency etc. I must say they are doing well for themselves in Hong Kong. </span></p>
<p class="MsoNormal">
	 </p>
<p class="Pa23" style="margin-top:5.0pt">
	<strong><span myriad="" style="font-size:10.0pt;
mso-bidi-font-family:">Are you associated with the NRN Association? Are there any NRN businesspersons who are doing business here? </span></strong></p>
<p class="MsoNormal">
	<span myriad="" style="font-size:10.0pt;line-height:115%;mso-bidi-font-family:
">I am a member of the association, however, I am not actively involved in it. As an idea, it is good. However, I do not see where they are heading. It all depends on who is leading the association. There are many NRNs doing business here. Some are involved in banking, travel agencies, trading, and others. I think that everyone has to work on their strong aspect, start from scratch and then dream big. If I have to start a business here, I will have to learn the basics about the market. That is the reason why I am looking forward to appropriate partners here in Nepal. I would need at least six months to study the market locally.</span></p>
<p class="MsoNormal">
	<span myriad="" style="font-size:10.0pt;line-height:115%;mso-bidi-font-family:
">&nbsp;</span></p>
<p class="MsoNormal">
	<span myriad="" style="font-size:10.0pt;line-height:115%;mso-bidi-font-family:
">&nbsp;</span></p>
<p class="MsoNormal">
	<span mso-bidi-font-family:="" myriad="" style="font-size:24.0pt;mso-bidi-font-size:11.0pt;
line-height:115%;font-family:">‘We See a Huge Yet-to-be-Tapped Market for BUSY in Nepal’</span></p>
<p class="MsoNormal">
	<span mso-bidi-font-family:="" myriad="" style="font-size:24.0pt;mso-bidi-font-size:11.0pt;
line-height:115%;font-family:">&nbsp;<br />
	<img alt="pankaj" border="1" height="408" hspace="10" src="http://www.newbusinessage.com/ckfinder/userfiles/Images/Pankaj-Kumar-Roy.jpg" vspace="10" width="331" /><br />
	</span></p>
<p class="MsoNormal">
	<span class="A24"><span style="font-size:14.0pt">Pankaj Kumar Roy </span></span><span myriad="" style="font-size:11.5pt;line-height:115%;mso-bidi-font-family:
"><span style="font-size:14.0pt;color:#221E1F">is Business Development Manager at Busy Accounting Software, one of the popular accounting and inventory management software for MSMEs in India.&nbsp; </span></span><br />
	<span myriad="" style="font-size:11.5pt;line-height:115%;mso-bidi-font-family:
">&nbsp;</span></p>
<p class="MsoNormal">
	<span myriad="" style="font-size:11.5pt;line-height:115%;mso-bidi-font-family:
">The company has currently over half-a-million users in over 20 countries. BUSY 12 is the software that the company has introduced lately. Roy visited Kathmandu recently for the expansion of his software business in Nepal. In an interview with New Business Age, he talked about the importance of accounting software in Nepal’s business sector. Excerpts:</span></p>
<p class="MsoNormal">
	<strong><strong>&nbsp;</strong></strong></p>
<p class="Pa23" style="margin-top:5.0pt">
	<strong><span myriad="" style="font-size:10.0pt;
mso-bidi-font-family:">What is the purpose of your visit to Nepal this time?</span></strong></p>
<p class="MsoNormal">
	<span myriad="" style="font-size:10.0pt;
mso-bidi-font-family:">This time, we came here for the promotion of our new software BUSY 12. We are providing technical support to busy users as well as providing training to channel partners on BUSY 12 – our latest version for BUSY range of accounting software.</span></p>
<p class="MsoNormal">
	<strong><span myriad="" style="font-size:10.0pt;
mso-bidi-font-family:"><br />
	What are the major features of your software products?</span><br />
	<br />
	</strong><span myriad="" style="font-size:10.0pt;
mso-bidi-font-family:">BUSY is an accounting and inventory management software. The salient features of BUSY are: Financial Accounting, Inventory Management, Statutory Reports, Invoicing, Production, Bill of Material, Multi- Location management, checks and controls, MIS and many more.</span></p>
<p class="MsoNormal">
	<strong><strong>&nbsp;</strong></strong></p>
<p class="Pa23" style="margin-top:5.0pt">
	<strong><span myriad="" style="font-size:10.0pt;
mso-bidi-font-family:">Please tell us something about your software BUSY 12. Who are the target groups for this product?</span></strong></p>
<p class="MsoNormal">
	<span myriad="" style="font-size:10.0pt;
mso-bidi-font-family:">BUSY 12 is an accounting and inventory software with a host of new features and enhanced functionalities including sales/purchase quotation, customizable reports, data access through SMS/e-mail, auto back-up of data and provision for voucher audit etc. It’s an ERP for SMEs which allows businesses to manage their accounting, inventory, invoicing, and statutory requirements. It also offers a feature that would help the user in securing their data against theft and misuse, thus maintaining a better control mechanism. It also enables users in preparing sales or purchase quotation. All businesses which require software to manage their business are our target customers. Hence, all SMEs and in fact the corporate houses also, can benefit from BUSY 12.</span></p>
<p class="MsoNormal">
	<strong><strong>&nbsp;</strong></strong></p>
<p class="MsoNormal">
	<strong><span myriad="" style="font-size:10.0pt;
mso-bidi-font-family:">How are you promoting your business in Nepal?</span> <br />
	</strong></p>
<p class="Pa10">
	<span myriad="" style="font-size:10.0pt;mso-bidi-font-family:">We sell our software through the channel partners in Nepal. Currently, we have three channel partners in Kathmandu and multiple resellers working for these channel partners. As an organization, we put big emphasis on customer satisfaction so we plan regular visits to our customers to resolve their issues. We regularly participate in leading exhibitions in Nepal and organize seminars and workshops also. Moreover, we take regular feedback from our partners and customers to incorporate features specific to businesses requirements in Nepal.</span></p>
<p class="MsoNormal">
	<strong><strong>&nbsp;</strong></strong></p>
<p class="Pa23" style="margin-top:5.0pt">
	<strong><span myriad="" style="font-size:10.0pt;
mso-bidi-font-family:">What are your plans to attract more number of people using your services?</span></strong></p>
<p class="Pa10">
	<span myriad="" style="font-size:10.0pt;mso-bidi-font-family:">As I mentioned earlier, customer satisfaction is our motto. We believe in a theory that ‘one happy customer refers you to ten more,’ so we are striving hard to make our customer feel happiest which we believe will boost our business. We have plans to organize meetings, workshops and seminars regularly to train and educate people on BUSY. Moreover, we would be participating in leading exhibitions and advertising in leading newspapers too. </span></p>
<p class="MsoNormal">
	 </p>
<p class="Pa23" style="margin-top:5.0pt">
	<strong><span myriad="" style="font-size:10.0pt;
mso-bidi-font-family:">How can Nepali Industries benefit from your products?</span></strong></p>
<p class="Pa10">
	<span myriad="" style="font-size:10.0pt;mso-bidi-font-family:">We have so many excellent features in BUSY which simplify the businesses of Nepali SMEs. For example, we provide Nepal VAT reports, Nepali date, computerised billing, checks and controls, multi-branch management etc including other features which have been beneficial for Nepali businesses. </span></p>
<p class="MsoNormal">
	<br />
	&nbsp;<strong><span myriad="" style="font-size:10.0pt;
mso-bidi-font-family:">What is your assessment of the market demand for your software?</span> <br />
	</strong></p>
<p class="MsoNormal">
	<span myriad="" style="font-size:10.0pt;line-height:115%;mso-bidi-font-family:
">We see a huge yet-to-be-tapped market for BUSY in Nepal. Our software caters to almost every industry – retailers, traders, distributors, discreet manufacturers and corporate entities. However, most of the businesses here are either not using any software or are using out-dated software to manage their accounting and inventory needs. Therefore, we feel that we are in the right position to capture a big market share in the next two to five years.</span></p>
<p class="MsoNormal">
	<span myriad="" style="font-size:10.0pt;line-height:115%;mso-bidi-font-family:
">&nbsp;</span></p>
<p class="MsoNormal">
	<span myriad="" style="font-size:10.0pt;line-height:115%;mso-bidi-font-family:
">&nbsp;</span></p>
<p class="MsoNormal">
	<span myriad="" style="font-size:10.0pt;line-height:115%;mso-bidi-font-family:
">&nbsp;</span></p>
<p class="MsoNormal">
	<span mso-bidi-font-family:="" myriad="" style="font-size:24.0pt;mso-bidi-font-size:11.0pt;
line-height:115%;font-family:">‘We Help Nepali Counterparts to meet IT Product Needs’<br />
	<br />
	</span></p>
<p class="MsoNormal">
	<span mso-bidi-font-family:="" myriad="" style="font-size:24.0pt;mso-bidi-font-size:11.0pt;
line-height:115%;font-family:">&nbsp;<img alt="alexandar" border="1" height="385" hspace="10" src="http://www.newbusinessage.com/ckfinder/userfiles/Images/Alexander-Oddoz-Mazet.jpg" vspace="10" width="263" /><br />
	</span></p>
<p class="Pa1">
	<span class="A24"><span style="font-size:14.0pt">Alexander Oddoz-Mazet </span></span><span class="A24"><span style="font-size:14.0pt;
color:#221E1F">is the Director – Asia Pacific Region of Microsoft Operations Pte Ltd. </span></span></p>
<p class="MsoNormal">
	 </p>
<p class="MsoNormal">
	&nbsp;<span myriad="" style="font-size:11.5pt;line-height:115%;mso-bidi-font-family:
">Founded in 1975, Microsoft is the worldwide leader in software, services and solutions that help people and business realize their full potential. Through its regional office in Bangladesh, it has been marketing and promoting Microsoft products and solutions in territories of Bangladesh, Nepal and Bhutan. Microsoft has been present in Nepal since 2007. Oddoz-Mazet was in Kathmandu to attend a business event titled “Maximizing Business Productivity – Leveraging Microsoft Technologies”. In an interview with New Business Age, he talked about Microsoft’s business productivity solutions among other issue. Excerpts:</span></p>
<p class="MsoNormal">
	<strong><span myriad="" style="font-size:11.5pt;line-height:115%;mso-bidi-font-family:
">&nbsp;</span></strong></p>
<p class="Pa23" style="margin-top:5.0pt">
	<strong><span myriad="" style="font-size:10.0pt;
mso-bidi-font-family:">With business productivity being high on most organizations’ priority list, what does Microsoft offer in specific to the Nepal market?</span></strong></p>
<p>
	<span myriad="" style="font-size:10.0pt;
mso-bidi-font-family:">We are developing a new scenario that helps people to work together as a team and as an organization. Communication is one of the key scenarios so people need to do it more effectively while collaboration is also one of the scenarios that we need to work at more effectively. At Microsoft, we now have a few technological solutions that can help to achieve that. One of them is Unified Communications which is a way to reduce complexity by putting people at the centre of the communications experience. The goal is to integrate all of the ways we contact each other in a single environment using a single identity and presence. It provides businesses in Nepal with the power to choose how they provision services whether on their own premises, as cloud services, or in a hybrid fashion. </span></p>
<p class="Pa10" style="text-indent:14.0pt">
	<strong><span myriad="" style="font-size:10.0pt;
mso-bidi-font-family:"><br />
	How significant is Unified Communications from Microsoft’s perspective?</span></strong><span myriad="" style="font-size:10.0pt;mso-bidi-font-family:"><br />
	<br />
	It is very important indeed. With Unified Communications, we bring instant messaging, web, email, calendar, SMS etc together into one platform which makes it very easy for information technology (IT) divisions at organizations to manage a lot of things and make them very cost effective. It is a one-stop solution to everything. For themes, it has one-user interface that enables organizations to perform all types of communication. It has made it easy to drive a new way for all activities, to use different tools. With the Unified Solution powered by Microsoft, the users are free from the hassle of using different access, passwords and methods to use it. We provide a new communication solution not only to connect internally but also to the outside world.<br />
	<br />
	Please share the key capabilities of these solutions that you have mentioned in your presentation In not only Nepal, but also in countries around South East Asia like Korea, Thailand, Vietnam, Cambodia, we found that people create word document, PowerPoint presentations, picture, videos and store them in their personal computers (PCs). This is not a very effective option. If we want to work as a team and want to access those documents, it is not possible if they are stored in the individual PCs only. With SharePoint, you build an internet site within your company where only the employees of your company and trusted partners can have access to the information. SharePoint is one of the fastest growing products in business because people realise that they need to share the documents and work together as a team. Therefore, having the documents in a central location, which is easily searchable and accessible to people, can work effectively. We see the government officials and businesspersons using SharePoint to a large extent.<br />
	<br />
	Sometimes, it takes a while for a new technology to develop inside an organization. However, when the professionals inside an organization get along with the technology over time, they can adopt it to manage overall technology on their own. The fundamental capability of the software is to make people more productive. It makes a country more competitive in the world market. In Nepal, most of the talent goes outside the country in search of better opportunities. Our technology, adopted by organizations, can keep the intelligent people within the country which, in turn, helps the economy. There are lot of functionalities but at the core, Microsoft software is helping economies prosper and become more competitive at the world stage. With the integrated value of SharePoint, Link, Exchange, and Office into one platform, it makes the employees and teams to use the software more effectively.</span>&nbsp; <strong><span myriad="" style="font-size:10.0pt;
mso-bidi-font-family:"><br />
	</span></strong></p>
<p class="Pa10" style="text-indent:14.0pt">
	<strong><span myriad="" style="font-size:10.0pt;
mso-bidi-font-family:"><br />
	What can companies do to understand Microsoft and business productivity solutions better?</span></strong><span myriad="" style="font-size:10.0pt;
mso-bidi-font-family:"><br />
	<br />
	One of the challenges we see is the people cannot properly understand what business productivity solutions can do for their business. In order to facilitate their understanding, we can show some works on PowerPoint presentation to them and also perform a demo if required. However, the best way to understand any product is to experience it. The analogy that I present many times to make my point is that you do not buy a car looking at its website. You take a decision by doing a test drive.</span><br />
	<br />
	<span myriad="" style="font-size:10.0pt;
mso-bidi-font-family:">Our partners have invested in a facility called “Customer Emersion Experience” in which we bring business people and IT professionals together. Once they enter our facility, we place laptops in front of them and make them test drive Microsoft Productivity business solutions for the next two-three hours. This is the best way to make people understand the value of our platform. We then drive a communication between the IT professionals and business people on ways to enable software in an organization and the value that the business can get. The other way is that we are talking with some of the companies to deploy our technology on a small scale, to begin with. However, the cost effective way is to utilize our “Customer Emersion Experience” scheme. </span></p>
<p class="Pa10" style="text-indent:14.0pt">
	<strong><span myriad="" style="font-size:10.0pt;
mso-bidi-font-family:">&nbsp;<br />
	What makes you believe you are better than the competition?</span></strong></p>
<p class="MsoNormal">
	<strong>&nbsp;</strong>We have a lot of competitors in the market and needless to say, all of them have very niche products. For Microsoft Unified Communications, we compete with people who deal with voice mail system, web conferencing solution and telephonic solution. The way we think about it is to have an integrated approach with the platform. The other is to deliver all those services that are being delivered by independent vendors. We provide ways for a company not to have many relationships with vendors. It’s because we provide vendor consolidations to them.</p>
<p class="Pa23" style="margin-top:5.0pt">
	<strong><span myriad="" style="font-size:10.0pt;
mso-bidi-font-family:"><br />
	How can business houses in Nepal benefit from this technology?</span></strong></p>
<p class="MsoNormal">
	<span myriad="" style="font-size:10.0pt;
mso-bidi-font-family:">Our software will help the user nations to save money on telecommunication. Nepal is a country with a lot of remote areas where people are seeking access to information. Unified communications can help them to deliver more value to the employees, customers, public servants and the citizens of the country. Many government agencies around the world are adopting this technology for better connection with citizens who need access to information. The software called SharePoint enables sharing of information and documents with people internally and the outside world.</span></p>
<p class="MsoNormal">
	<span myriad="" style="font-size:10.0pt;line-height:115%;mso-bidi-font-family:
">We help the IT departments in Nepal to provide one platform that can address all the different productivity needs. Therefore, it reduces their cost of having multiple vendor relationship and different solutions from different vendors. In addition, the IT department can have expertise around a single platform. Whereas, on the business side, people’s familiarity with applications like Word, <br />
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<p class="MsoNormal">
	<span style="font-size:16px;"><span style="line-height: 115%;"><img alt="remit" border="1" height="284" hspace="10" src="http://www.newbusinessage.com/ckfinder/userfiles/Images/remittance.jpg" vspace="10" width="449" /><br />
	<br />
	<br />
	Income received as the Nepali workers’ remittances working abroad has become an automatic instrument for poverty reduction in Nepal. Remittance has been recognised as a key to solve various economic ills afflicting the country. Moreover, it has raised some obvious questions. For instance, long the national economy can solely depend on the source of remittance to sustain itself? Is it possible to use the remitted money to improve social livelihood of the Nepali people or, can it be used in more productive sector? Can our policymakers think beyond the box of remittance economy?</span></span></p>
<p class="MsoNormal">
	<span style="font-size:16px;"><span style="line-height: 115%;">&nbsp;</span></span></p>
<p class="MsoNormal">
	<span style="font-size:10.0pt;line-height:115%">55 New Business Age | September 2012</span></p>
<p class="MsoNormal">
	<span style="font-size:10.0pt;line-height:115%">&nbsp;<br />
	<br />
	<img alt="coverstory" border="1" height="339" hspace="5" src="http://www.newbusinessage.com/ckfinder/userfiles/Images/coverstory_1.jpg" vspace="5" width="300" /><br />
	</span></p>
<p class="MsoNormal">
	<span class="A8"><span myriad="" style="font-size:24.0pt;line-height:
115%;font-family:">COVER STORY</span></span></p>
<p class="Pa9" style="text-align:justify">
	<span class="A13"><span style="font-size:
59.0pt;color:windowtext">T</span></span><span myriad="" style="font-size:10.0pt;
mso-bidi-font-family:">he total households receiving remittances in Nepal stood at 55.8 per cent in the year 2010-11 as revealed by the findings of Nepal Living Standards Survey (NLSS)- III released by the Central Bureau of Statistics (CBS). This is a sharp rise from the year 2003-04 when only 31.9 per cent households in Nepal received remittances. Another remarkable statistic in the report was the 18 per cent decline in absolute poverty in the six years between 2003-04 and 2009- 10. According to the report, only 13 per cent Nepalis now remain below the absolute poverty line (the benchmark being 2,200-calorie intake per day per person). Nepal ranks sixth among the countries in terms of Remittances-to- GDP ratio as stated in the World Bank Report-2011. It rose from Rs 47.5 billion in 2001-02 to Rs 231.73 billion in 2009- 10. Remittances-to-GDP ratio almost doubled from 10.3 per cent in 2001-02 to 19.6 per cent in 2009-10. Economists estimate that this figure will rise to 20 per cent in 2012-2014. <br />
	</span></p>
<p class="Pa10" style="text-align:justify">
	<span myriad="" style="font-size:10.0pt;
mso-bidi-font-family:">It is estimated that approximately 2.2 million Nepalis are working as migrant workers in various countries. Nearly 90 per cent of migrant workers have found employment in Qatar, Malaysia, Saudi Arabia, the UAE, and Kuwait. Among them, 10 per cent of migrant labors are female. According to Bal Bahadur Tamang, the President of Foreign Employment Association of Nepal, the growing construction business in the Gulf countries has created a demand for large number of Nepali workers. “Qatar is hosting a showpiece World Cup Football tournament in 2022 and therefore, the amount of construction work happening there has increased the demand of Nepali workers substantially,” informed Tamang. <br />
	<br />
	Increasing remittance flow has emerged as a favored poverty alleviation strategy in developing countries, particularly in Nepal. Policymakers believe that the financial contribution from migrant workers has provided impetus to development activities. They also opine that the scope of such revenue should be further enhanced. Nara Bahadur Thapa, Chief Manager of Nepal Rastra Bank at Biratnagar said, “The robust relationship between the growth in remittance and the reduction in poverty has evolved on account of a significant growth in the number of rural poor people seeking jobs in the Gulf countries.” </span></p>
<p class="Pa10" style="text-align:justify">
	<span myriad="" style="font-size:10.0pt;
mso-bidi-font-family:">“Annually, Nepal is receiving Rs 200 billion as remittance,” shared Dr Ganesh Gurung, a Remittance Economist. Based on the data of the Department of Foreign Employment, 1,500 people leave the country for foreign employment every day on an average as of August 2011. Quite naturally, the country has also been receiving proportional amount of remittances from these migrant workers employed abroad. From mid-July to mid-August 2011, the number of Nepalis going abroad for jobs was 45,165. This heavy reliance on foreign employment has shifted the Nepali economy from an agriculture-based economy towards a remittance-based one. </span></p>
<p class="MsoNormal">
	<span myriad="" style="font-size:10.0pt;line-height:115%;mso-bidi-font-family:
">The NLSS, 2010-11 reported that the common Nepalis’ access to basic facilities has improved over the years. Despite political upheavals and unrest, the average household income of Nepalis has increased by more than four-fold to Rs 202,374 over the span of 15 years due to increased receipt of remittances. Thapa shared that the remittance thus received is widely spent on daily consumption, followed by loan repayment and household property instead of capital formation. A Nepal Rastra Bank (NRB) report says that 78.9 per cent of the remittance is used on daily consumption, whereas 7.1 per cent of the remittance is used to repay loans followed by 4.5 per cent on household property, 3.5 per cent on education and only a minimal 2.4 per cent is used for capital formation. According to Dr Gurung, the increased remittance per household has not only increased consumption pattern but changed the social structure too. The nominal per capita consumption expenditure in aggregate increased from Rs 15,848 in 2003-04 to Rs 34,829 in 2010, at an annual average growth rate of 14 per cent. The survey also identified urban hills (9 per cent) and Kathmandu (11 per cent) having the least poor population while the highest population identified as poor live in the mountains (42 per cent) and rural hills in the Mid and Far-West regions (37 per cent).</span></p>
<p class="MsoNormal">
	<span myriad="" style="font-size:10.0pt;line-height:115%;mso-bidi-font-family:
">According to Tamang, a significant chunk of the money received via remittance is being spent on imports and real estate instead of it being invested in productive sectors. The main challenge does not lie in receiving remittance but in channelizing it into productive use. Therefore, remittance should be included in the national development agenda to monitor its use. Though the government has given permission to manpower agencies to open foreign currency account in Nepali commercial banks, the government’s responsibility does not end here. Apart from monitoring and facilitating the use of this income, the government should encourage migrants to hold their income in financial assets within the country rather than abroad.</span></p>
<p class="MsoNormal">
	<span myriad="" style="font-size:10.0pt;line-height:115%;mso-bidi-font-family:
">“Income received from remittance source has become an automatic instrument for poverty reduction in Nepal as both the government and the private sector have failed to create adequate number of jobs,” said Thapa. If we compare the domestic savings-to- GDP ratio, which is currently around 10 per cent, and national savings-to- GDP ratio standing at 36.7 per cent, the difference is largely due to remittance. Against the national savings-to-GDP ratio at 36.7 per cent, the total fixed investment-to-GDP ratio is 19.6 per cent, reflecting the failure of Nepali society to make productive use of remittance driven national savings. As of mid-June 2012, foreign exchange stood at Rs 427 billion, sufficient <span style="mso-spacerun:yes">&nbsp;</span>nough to <span style="mso-spacerun:yes">&nbsp;</span>cover merchandise and services import of around 10 months. This reflects two things. First, remittance is an important source of foreign exchange earnings, underpinning macroeconomic stability of Nepal. <br />
	</span></p>
<p class="MsoNormal">
	<span myriad="" style="font-size:10.0pt;line-height:115%;mso-bidi-font-family:
">Second, the magnitude of foreign exchange indicates that both the government and the private sector have failed to make productive use of foreign exchange accumulated from remittance. Gurung opines that there is no question of utilising remittance for income generating activities for families living below the poverty line. In their case, remittance will take care of consumption. However, the families managing to save out of remittance can be encouraged to invest in income generating activities that could be an issue of micro management of remittance. Similarly, families engaged in agricultural activities and receiving remittance in excess of their consumption requirements should be encouraged to invest in high yielding crops and animal husbandry. This will help boost the agricultural production and consequently, their incomes. <br />
	</span></p>
<p class="MsoNormal">
	<span myriad="" style="font-size:10.0pt;line-height:115%;mso-bidi-font-family:
">On the other hand, families residing in urban and semi-urban areas should be encouraged to invest in small services such as tailoring, taxi driving and undertaking petty businesses. For this to happen, the government can help establish multipurpose urban cooperatives. Lila Prasad Sitaula, Executive Director at Foreign Exchange Management Department of Nepal Rastra Bank, said, “The government, together with the NRB has introduced few important policies to utilize remittance productively. One of those is the issuance of remittance bond targeting migrant workers. Along with it, the NRB is formulating a policy to encourage banks and financial institutions for opening up branches in the rural areas, thus, bringing money in the banking system and channelize it in the productive sector. Furthermore, some provisions have been made to allow remittance companies to manage their forex balance in a more profitable manner, added Sitaula.</span></p>
<p class="MsoNormal">
	<span myriad="" style="font-size:10.0pt;line-height:115%;mso-bidi-font-family:
">The government also started issuing foreign employment bond for mobilizing funds and making productive use of remittance since 2009-10 but so far, it has failed to gain popularity among the Nepali migrant workers abroad. According to Chandra Dhakal, Chairman of Nepal Remitters’ Association, remittance is the major factor in improving Nepal’s position in Human Development Index and improving poverty level. Remittance has played a major role in improving livelihood of millions of Nepalis. It has helped people have better access to health, education and sanitation. Dhakal added that the time has come to think about the productive investment of remittance for economic development of the country because capital has been a major constraint. <br style="mso-special-character:line-break" />
	<br style="mso-special-character:line-break" />
	</span></p>
<p class="MsoNormal">
	<span myriad="" style="font-size:10.0pt;line-height:115%;mso-bidi-font-family:
">&nbsp;The Monetary Policy of 2012-13 has encouraged and facilitated those companies wishing to establish remittance business in various regions and countries. “We have realized the need for further expanding money transfer agencies to the countries where the supply of remitting service is few or not in existence,” shared Sitaula. Additionally, necessary bylaws have been introduced governing money transfer business activities. The government should prepare proper plans and policies in order to encourage the migrant workers to use formal channels instead of using illegal channels like ‘hundi’. Besides, the government should support the recruitment agencies in receiving recruitment charges, visa charges etc through proper banking channels which should automatically reduce the use of illegal banking channels.</span><span myriad="" style="font-size:10.0pt;mso-bidi-font-family:"><br />
	<br />
	International Money Express (IME) was the first Nepali financial institution starting its services to control the flow of remittance through banking channel twelve years ago. And since the last few years, commercial banks through their representatives and agents have also been involving in money remitting business. As per a recent report of central bank, the total remittance for the first 11 month of FY 2011-12 stood at Rs 320.38 billion showing a growth of 39.6 per cent compared to a growth of 10.1 per cent during the corresponding period of the previous year. Dhakal said, “Though we don’t have any data related to remittance coming through remittance companies, we can estimate that more than 70 per cent of it is channeled through remittance companies.” According to him, remittance companies are doing their best in increasing their network and enhancing their service to bring more remittances through formal channels. The central bank and the government should cooperate and facilitate remittance companies in this noble endeavor, he said.</span> <span myriad="" style="font-size:10.0pt;mso-bidi-font-family:"><br />
	<br />
	“Commercial banks are coming into this business and making it more competitive, however, there is a huge misunderstanding in the scope of work for remittance companies and commercial,” said Dhakal. The present policies have been formulated on the assumption that remittance companies will bring the foreign currency and sell it to commercial banks so that both will be benefited. It is an irony that remittance companies are compelled to sell foreign currency to commercial banks, with whom they are competing at source. Since there is huge disparity in facilities available to remittance companies and commercial banks in terms of foreign currency, the central bank needs to review its policy to ensure sustainability of remittance companies, which are playing an instrumental role in Nepal’s inward remittance. On the other hand, the comfortable reserve position in the country leads to sufficient liquidity in the banking system that is being channelized into productive sectors. Moreover, the increase of foreign exchange reserves allows moving towards gradual liberalization of foreign exchange market.</span></p>
<p class="MsoNormal">
	<span myriad="" style="font-size:10.0pt;
mso-bidi-font-family:">“Preserving the value of foreign exchange is the main concern of the NRB,” said Sitaula. According to him, the central bank has been managing its foreign currency assets keeping it in major international currencies and different asset portfolios in accordance with the principle of portfolio diversification and minimizing currency risk. “A chunk of reserves is invested in highly liquid securities especially sovereign bonds and rest is placed with foreign central banks, BIS and different highly rated foreign commercial banks based on the ratings of international rating agencies such as Standard &amp; Poor’s and Moody’s,” shared Sitaula. While safety and liquidity constitute the main objectives of reserve management in Nepal, return optimization becomes an embedded strategy within this framework, he added.</span></p>
<p class="MsoNormal">
	<span myriad="" style="font-size:10.0pt;
mso-bidi-font-family:">Remittance increases foreign currency availability in the domestic market and raises national savings. Availability of foreign currency, in turn, facilitates financing of essential import and can avert possible balance of payments (BoP) crisis. Despite the rising trade deficit, Nepal witnessed a record current account as well as BoP surplus in the last year because of substantial flow of remittances. Had remittance flows stagnated last year, Nepal would have witnessed deficit in the current account and lesser BoP surplus, said Sitaula. Remittances alone can finance about 90 percent of merchandise trade deficit of the country.</span></p>
<p class="MsoNormal">
	<span myriad="" style="font-size:10.0pt;
mso-bidi-font-family:">These facts reveal a crucial role remittances play in attaining macroeconomic stability in the country. Though increasing remittance has its own advantages, it is also true that over dependency on it in the end will eventually lead to economic failure if the flow of remittance is disrupted. “Of course, nothing would be better than bringing development projects with sufficient funding to utilize the labor force in Nepal itself. For this, the long-term focus ought to be the development of entrepreneurial capabilities of the Nepalis so that remittances could be turned into productive investment that brings higher growth and employment generation,” said Gurung.</span></p>
<p class="MsoNormal">
	<span myriad="" style="font-size:10.0pt;line-height:115%;mso-bidi-font-family:
">However, having said that, remittance has been the only hope in recent times to rescue the faltering economy from the low-level equilibrium trap when the implementation of capital expenditure programme is likely to go on a wild goose chase. Remittance has been imperative for survival, poverty reduction, and eliminating impoverished condition of life in the country. At the same time, the government has to resolve these problems, as remittance is one of the growing and most crucial sectors of the economy.</span></p>
<p class="MsoNormal">
	<span myriad="" style="font-size:10.0pt;line-height:115%;mso-bidi-font-family:
">&nbsp;</span></p>
<p class="MsoNormal">
	<span myriad="" style="font-size:10.0pt;line-height:115%;mso-bidi-font-family:
">&nbsp;</span></p>
<p class="Pa1">
	<span class="A8"><span style="font-size:24.0pt;color:windowtext">COVER STORY</span></span></p>
<p class="MsoNormal">
	<span myriad="" style="font-size:10.0pt;line-height:115%;mso-bidi-font-family:
">&nbsp;</span></p>
<p class="MsoNormal">
	<span class="A49"><span myriad="" style="font-size:23.0pt;line-height:
115%;font-family:">‘Remittances can have Long-term Impact if Channeled into Productive Investment’<br />
	<br />
	<br />
	<img alt="ganesh gurung" border="1" height="313" hspace="5" src="http://www.newbusinessage.com/ckfinder/userfiles/Images/ganesh-gurung.jpg" vspace="5" width="300" /><br />
	</span></span></p>
<p class="Pa1">
	<span style="font-size:16px;"><span class="A5"><span style="color: windowtext;">DR GANESH GURUNG </span></span></span></p>
<p class="MsoNormal">
	<span style="font-size:16px;"><span class="A5"><span color:="" style="line-height: 115%; font-family: ">&nbsp;Remittance Economist</span></span></span></p>
<p class="MsoNormal">
	<strong><span style="font-size:16px;"><strong>&nbsp;</strong><br />
	&nbsp;</span></strong></p>
<p class="Pa23" style="margin-top:5.0pt;text-align:justify">
	<strong><span myriad="" style="font-size:10.0pt;mso-bidi-font-family:">How do you view the contribution of remittance to the reduction of poverty in Nepal?</span></strong></p>
<p class="Pa10" style="text-align:justify">
	<span myriad="" style="font-size:10.0pt;
mso-bidi-font-family:">This, in fact, is an interesting aspect. The post conflict political situation has not witnessed major economic growth and hence unemployment and underemployment is an ever growing phenomenon. The political unrest decelerated the pace of industrial expansion and halted plenty of small and medium enterprises all over the country creating unemployment throughout the country. In that situation, a huge number of migrant workers amplified the number because of which, foreign employment became an emerging business in Nepal’s context. </span></p>
<p class="Pa10" style="text-align:justify">
	<span myriad="" style="font-size:10.0pt;
mso-bidi-font-family:">In my opinion, remittance has played a vital role in poverty reduction. Various reports and planning documents published in recent times have attributed the dramatic fall in absolute poverty to the inflow of remittances in Nepal. The percentage of all households receiving remittances in Nepal during the year 2010/11 was 55.8 per cent. This is a sharp rise from the year 2003/04 when it stood at 31.9 per cent. There has been an 18 per cent decline in absolute poverty in the six years between 2003/04 and 2009/10. Therefore, according to me, foreign employment is a major economic phenomenon in Nepal and its relation to the economic growth of the country is integral. </span></p>
<p class="MsoNormal">
	 </p>
<p class="Pa23" style="margin-top:5.0pt;text-align:justify">
	<strong><span myriad="" style="font-size:10.0pt;mso-bidi-font-family:">What is the trend of use of remittance in Nepal in general households? What is the ratio of its use in productive and unproductive sectors? How do you analyze such trends? </span></strong></p>
<p class="Pa10" style="text-align:justify;text-indent:14.0pt">
	<span myriad="" style="font-size:10.0pt;mso-bidi-font-family:">I believe that there are also some long-term opportunities brought about by foreign employment. Children of the foreign employment workers are getting quality education paid for by the remittances from their parents. The nation can benefit in the long term out of this trend as skilled and educated manpower is produced for the economy.<br />
	<br />
	The remittance sent by the migrant workers can be used to further generate wealth in the country. Besides spending on consumption, it has to be invested in productive sectors, which would bring about some positive change on the major macroeconomic variables of the country. Remittances can produce long term impact only if it is channeled into productive investment. Going by the current trends of consumption in Nepal, if the remittances are soaked up by consumption only and are not turned into investments, the short term boost provided by it in the economy will not be sustainable. Productivity will decline and the economic choices get tougher if the situation is not addressed in time and is stalled being shortly content with the remittance-based income. More remittance money is spent on consumption than in any other aspects. Only 2.4 per cent of remittance money is spent for capital formation in our country.</span> <span myriad="" style="font-size:10.0pt;mso-bidi-font-family:"><br />
	<br />
	Due to increase in revenues from remittances, the currency of a country becomes stronger compared to that of other nations resulting in exports becoming more expensive for other countries to buy. This can make the manufacturing sector less competitive. Thus, with the increase in the purchasing capacity of households receiving remittance, there is high demand of consumption and imported goods. There has been an appreciation of real exchange rate due to rise in the price of non-tradable with respect to tradable. Furthermore, there has been an erosion of manufacturing sector entailing to their reduced competitiveness. </span></p>
<p class="MsoNormal">
	 </p>
<p class="MsoNormal">
	 </p>
<p class="MsoNormal">
	<strong><span myriad="" style="font-size:10.0pt;mso-bidi-font-family:">How do you compare the remittance figures between today and five years ago?</span></strong></p>
<p class="Pa10" style="text-align:justify;text-indent:14.0pt">
	<span myriad="" style="font-size:10.0pt;mso-bidi-font-family:">Despite the huge contribution of remittance to GDP, Nepal’s economic growth rate has never exceeded 4 per cent except in 2005 although the indication is that remittance will go up in the years to come. A remittance share of 20 per cent of the total GDP should have created enough employment opportunities, but the unemployment rate still stands at 42 per cent. Furthermore, there appears to be an inversely proportional relationship between employment abroad and industrial growth. For instance, industrial production growth rate was only 1.8 per cent in 2011 whereas from 2002 to 2005, the growth rate was 8.7 per cent when remittance inflow was far less. In this ratio, the remittance pattern is in the increasing trend if we compare the figures of 2010/11 and 2004/05. However, the challenge is to channelize the remittance in productive sector. </span></p>
<p class="MsoNormal">
	 </p>
<p class="MsoNormal">
	<strong>&nbsp;</strong></p>
<p class="Pa23" style="margin-top:5.0pt;text-align:justify">
	<strong><span myriad="" style="font-size:10.0pt;mso-bidi-font-family:">What is the contribution of remittance in GDP? </span></strong></p>
<p class="Pa23" style="margin-top:5.0pt;text-align:justify">
	 </p>
<p class="Pa10" style="text-align:justify">
	&nbsp;<span myriad="" style="font-size:10.0pt;
mso-bidi-font-family:">It is estimated that the number of Nepali migrant workers is officially 1.4 million and the number of undocumented migrant workers is estimated to be the same. Annually, Nepal is receiving Rs 200 billion as remittance and its contribution to GDP is about 20 per cent. According to World Bank report - 2011, Nepal ranks sixth among countries in whose GDP remittance holds a very high share. It rose from Rs 47.5 billion in 2001/02 to Rs 231.73 billion in 2009/10. Remittance-to-GDP ratio almost doubled from 10.3 per cent in 2001/02 to 19.6 per cent in 2009/10. Therefore, we can say that there has been a positive impact of remittance in GDP. </span></p>
<p class="MsoNormal">
	 </p>
<p class="Pa23" style="margin-top:5.0pt;text-align:justify">
	<strong><span myriad="" style="font-size:10.0pt;mso-bidi-font-family:">How successful has the state become to utilize the remittance income in the development activities? </span></strong></p>
<p class="Pa10" style="text-align:justify">
	<strong>&nbsp;</strong><span myriad="" style="font-size:10.0pt;
mso-bidi-font-family:">It is rather disappointing that the state has not been able to utilize the remittance to the optimal level. Very less has been done in this aspect. With a huge number of migrant workers working across the globe, remittances are emerging as a new way for alleviating poverty in the developing and least developed countries. </span></p>
<p class="Pa10" style="text-align:justify">
	&nbsp;<span myriad="" style="font-size:10.0pt;
mso-bidi-font-family:">Due to unhealthy investment environment in the home country, remittance money has not been used productively which has made Nepal a consumption oriented economy rather than an investment oriented one. This has slowed the pace of development activities in the country. Presently, 78.9 per cent of remittance money is used for daily consumption while only 2.4 per cent is being used in the productive sector. So, the government should create an investment friendly environment in order to use the remittance money in the productive sector. </span></p>
<p class="Pa10" style="text-align:justify">
	&nbsp;<span myriad="" style="font-size:10.0pt;
mso-bidi-font-family:">In my opinion, the migrant workers should be trained and well informed about what they can do with the money they earn at destination countries. The recruiting agencies should take them in confidence that even after they return to their country, they could have a secure future. Different plans and policies have to be made to create investment friendly environment for these workers. In addition, proper investment environment in the home country acts as a backup in case of emergencies oversees and even during financial crisis. Similarly, the government should introduce measures to encourage savings among migrant workers and their remittance recipient families. </span></p>
<p class="MsoNormal">
	 </p>
<p class="Pa23" style="margin-top:5.0pt;text-align:justify">
	<strong><span myriad="" style="font-size:10.0pt;mso-bidi-font-family:">What is your vision to utilize the expertise of the private sector as well as the state to utilize the earning from remittance? </span></strong></p>
<p class="Pa10" style="text-align:justify;text-indent:14.0pt">
	<strong>&nbsp;</strong><span myriad="" style="font-size:10.0pt;mso-bidi-font-family:">Private sector has a great role to play here. They are the ones who should be making attractive and feasible business ventures that are appropriate for migrants. Migrant workers do not know about the viable projects where their money can be invested. Therefore, in collaboration with these migrant workers, the private sector should establish business ventures that are not only viable but also fulfill the need of the country. Thus, both will have a win-win situation.<br />
	<br />
	People recruited for foreign must be provided several types of training that can enhance their productivity to get better jobs. Proper trainings should be provided to these workers to gain required skills in the destination country. Another major area where private companies are key players is the remittance receiving procedures. There are dozens of private money transfer companies that are providing the service and transferring money through legal and formal channels. The spread of such private services to even the rural areas of the country suggests increasing demand for their services and profitability potential. </span></p>
<p class="MsoNormal">
	&nbsp; <br />
	 </p>
<p class="Pa23" style="margin-top:5.0pt;text-align:justify">
	<strong><span myriad="" style="font-size:10.0pt;mso-bidi-font-family:">What is the situation of Labor Desk and Welfare Fund in the present situation? Is there enough transparency? <br />
	<br />
	</span></strong></p>
<p class="Pa10" style="text-align:justify;text-indent:14.0pt">
	<span myriad="" style="font-size:10.0pt;mso-bidi-font-family:">The Labor Desk has acted more as an extended bureaucracy on the part of the government. The Welfare Fund has collected Rs one billion as of September 2011. However, no significant work has been accomplished to properly utilize this amount. There is less transparency regarding the fund collected thus far. In my opinion, the fund should be utilized to provide trainings, skill-enhancing workshops, and information required for foreign employment. This way, the migrant workers will be well equipped with required skills and well informed about the destination country. This will automatically minimize the risk of the labors being cheated or discriminated at the host nation. </span></p>
<p class="MsoNormal">
	<strong>&nbsp;</strong></p>
<p class="MsoNormal">
	<strong><span myriad="" style="font-size:10.0pt;mso-bidi-font-family:">What is the contribution of remittance in Balance of Payments?</span>&nbsp; <br />
	</strong></p>
<p class="MsoNormal">
	<span myriad="" style="font-size:10.0pt;
mso-bidi-font-family:">Nepal was compelled to borrow $42.5 million from the International Monetary Fund under its rapid credit facility to address BoP deficit one-and-a-half years ago. However, the acceleration in the growth of remittance along with the improvement in the service account has helped maintain a comfortable balance of payments (BoP) situation. After remaining in deficit for two years, the country’s BoP turned surplus in the second last month of the last fiscal year and has continued to grow since. In the same period last year, the BoP had recorded a deficit of Rs 5.72 billion.</span></p>
<p class="MsoNormal">
	<strong>&nbsp;</strong></p>
<p class="MsoNormal">
	<strong><strong>&nbsp;</strong></strong></p>
<p class="Pa23" style="margin-top:5.0pt;text-align:justify">
	<strong><span myriad="" style="font-size:10.0pt;mso-bidi-font-family:">An initiative of the government-foreign employment bond has said to have failed miserably. How can such initiatives be made successful?</span></strong></p>
<p class="MsoNormal">
	<span myriad="" style="font-size:10.0pt;
mso-bidi-font-family:">In my opinion, it is necessary to create a mechanism that provides incentives to the stakeholders so that they are keen to sell on the one hand and on the other, interest rate and other facilities given are not attractive for the migrant workers. Thus, the government should make the bond an attractive package and provide them some more incentive so that it is comparatively profitable for them to buy.</span></p>
<p class="MsoNormal">
	<span myriad="" style="font-size:10.0pt;
mso-bidi-font-family:">Foreign employment bond is one of the key instruments that the government has adopted to raise internal loans. However, lack of awareness and complicated procedures are responsible for the low subscription. The first foreign employment bond, issued in fiscal year 2009-10 had seen subscription worth Rs 4.6 million of the total issue of Rs one billion at 9.5 per cent interest. Likewise, last year too, bonds worth only Rs four million of the total issue worth Rs five billion were sold.</span></p>
<p class="MsoNormal">
	<span myriad="" style="font-size:10.0pt;line-height:115%;mso-bidi-font-family:
">The repetitive failure of the bond to attract enough investment from the migrant worker community has been attributed to the absence of proper marketing channels. The failure of the last two batches had got NRB to look into diverse markets allowing even Non Resident Nepalis (NRN) and returnee migrant workers to purchase the bond instead of only focusing on migrant workers in the Gulf countries and Malaysia. The layman is missing out on booking good returns by investing in bonds due to lack of awareness about investing in government securities.</span></p>
<p class="MsoNormal">
	<span myriad="" style="font-size:10.0pt;line-height:115%;mso-bidi-font-family:
">&nbsp;</span></p>
<p class="Pa1">
	<span class="A8"><span style="font-size:24.0pt;color:windowtext">COVER STORY</span></span></p>
<p class="Pa1">
	<span class="A8"><span style="font-size:24.0pt;color:windowtext"><span style="mso-spacerun:yes">&nbsp;<br />
	<img alt="bala bahadur tamang" border="1" height="293" hspace="10" src="http://www.newbusinessage.com/ckfinder/userfiles/Images/BAL-BAHADUR-TAMANG.jpg" vspace="10" width="300" /></span></span></span></p>
<p class="MsoNormal">
	<span style="font-size:18px;"><span class="A5"><span color:="" style="line-height: 115%; font-family: ">BAL BAHADUR TAMANG <br />
	President <br />
	Foreign Employment Association</span></span></span></p>
<p class="MsoNormal">
	<span style="font-size:18px;"><span class="A5"><span style="line-height: 115%; font-family: ">&nbsp;</span></span></span></p>
<p class="MsoNormal">
	<span class="A5"><span myriad="" style="font-size:10.0pt;line-height:
115%;font-family:">&nbsp;</span></span></p>
<p class="MsoNormal">
	<strong><span class="A5"><span myriad="" style="font-size:10.0pt;line-height:
115%;font-family:">&nbsp;</span></span></strong></p>
<p class="Pa23" style="margin-top:5.0pt;text-align:justify">
	<strong><span myriad="" style="font-size:10.0pt;mso-bidi-font-family:">Which are the countries currently demanding Nepali labors on a big scale? What kind of wages do these migrant workers earn abroad? </span></strong></p>
<p class="MsoNormal">
	<strong>&nbsp;</strong><span myriad="" style="font-size:10.0pt;mso-bidi-font-family:">Most of the world’s estimated 150 million migrants are people searching for improved economic opportunities abroad. Nepal has not been able to escape this phenomenon either. Economic migration to the Middle East from countries in South Asia and other parts of the world was spurred-on by the oil boom in the early 1970s. The reasons behind the migration to the Gulf countries are almost same in Nepal as other parts of the world. Foreign labor migration has developed in such a way over the decades that it has shifted Nepal’s agricultural-based economy towards a remittance based one.</span></p>
<p class="MsoNormal">
	<span myriad="" style="font-size:10.0pt;mso-bidi-font-family:">Nepalis labors are demanded mostly in countries like Malaysia, Dubai, Saudi Arabia and Qatar. Most of the Nepali labors ranging from unskilled, semi-skilled and skilled are equally opting to receive foreign employment to these countries. The minimal wage rate for unskilled labor is 800, semi-skilled is 1,000 and for skilled labor is 1,200 Saudi Riyal. Apart from it, some European countries are also demanding skilled Nepali labors. However, the Middle East nations stand above in this aspect.</span></p>
<p class="MsoNormal">
	<strong>&nbsp;</strong></p>
<p class="Pa23" style="margin-top:5.0pt;text-align:justify">
	<strong><span myriad="" style="font-size:10.0pt;mso-bidi-font-family:">Why is it that the Nepali manpower agencies have not been able to send skilled manpower to the developed countries? How can this problem be resolved? </span></strong></p>
<p class="MsoNormal">
	<strong>&nbsp;</strong><span myriad="" style="font-size:10.0pt;
mso-bidi-font-family:">There is a demand of skilled workers in the international labor market. However, there is a vast difference while comparing the educational and technical standards of Nepali labors with those of the other countries. It is believed that Nepali workers are accepted in East and South Asia as well as the Gulf countries only because they come cheap and do whatever job is given to them. They lack required technical skills which makes it difficult for them to get visas for recruitment in the developed nations.</span></p>
<p class="MsoNormal">
	<span myriad="" style="font-size:10.0pt;
mso-bidi-font-family:">I strongly believe that the government should improve the curriculum in schools so that it can provide more practice-based knowledge. Apart from it, the government should also conduct consultation meetings with the experts, occupational groups, trade unions and foreign employment enterprises to make rules and regulations for the promotion and management of foreign employment occupation.</span></p>
<p class="MsoNormal">
	 </p>
<p class="MsoNormal">
	<strong><span myriad="" style="font-size:10.0pt;mso-bidi-font-family:">How do you view the conduct of manpower agencies operating in Nepal? What are the measures that your association is initiating to give this industry more credibility?&nbsp;&nbsp; </span></strong><br />
	<br />
	<span myriad="" style="font-size:10.0pt;
mso-bidi-font-family:">The main objective of the association is to monitor the manpower agencies providing foreign employment services, for their efficacy and transparency. We are working to make foreign employment business safe, well managed and decent as well as protect the rights and interests of the foreign bound workers and foreign employment entrepreneurs. There are many incidences of fake employment contracts, visas and forged documents etc. The result is that many Nepalis become stranded in foreign countries or are deported from these destinations where they go for work.</span></p>
<p class="MsoNormal">
	<span myriad="" style="font-size:10.0pt;line-height:115%;mso-bidi-font-family:
">A large number of unlicensed agencies exist in the manpower market in Nepal today. Estimates suggest that more than 200 unlicensed agencies are clandestinely involved in this business and bypass all official channels. For example, there are some manpower agencies charging more than Rs 2-3 lakhs per person for a position of manual labor in the Gulf countries or Malaysia. However, the actual cost should be much less. The association is closely monitoring the manpower agencies to make them follow the code and conduct of FEA. <br />
	</span></p>
<p class="MsoNormal">
	<span myriad="" style="font-size:10.0pt;mso-bidi-font-family:">A high-level advisory committee with the participation of the Ministries of Labor and Finance, the National Planning Commission and foreign employment organizations should jointly work, in order to expand foreign employment opportunities and increment the reliability of agents. The association is preparing a draft of proposal concerning the trainings that is to be provided to the workers seeking foreign employment opportunities in the days ahead.</span></p>
<p class="MsoNormal">
	<strong><span myriad="" style="font-size:10.0pt;mso-bidi-font-family:">How can ‘Hundi’ transaction be controlled? Why have manpower agencies not been able to encourage the migrant workers to use formal channels for remittance flow?</span></strong></p>
<p class="MsoNormal">
	<span myriad="" style="font-size:10.0pt;mso-bidi-font-family:">Remittance is one of the important sources of income. The contribution of remittance on Gross National Product is 23.6 per cent. In some cases, it seems that the process of remittance is lengthy and costly. The government should prepare proper plans and policies in order to encourage the migrant workers to use formal channels for remittance purpose. It should provide orientation classes and distribute booklets mentioning the disadvantages of using illegal banking channels like hundi, for instance. The government should also support the recruitment agencies in receiving recruitment charges, visa charges etc through proper banking channels and thereby automatically reduce the use of illegal banking channels. Currently, about 25 per cent of remittance flow is being carried out through hundi. The only way we can control hundi transactions is through easy banking access and close monitoring.</span></p>
<p class="MsoNormal">
	 </p>
<p class="MsoNormal">
	<strong><span myriad="" style="font-size:10.0pt;mso-bidi-font-family:">What is your suggestion to direct the inflow of remittance exclusively from banking channels?</span></strong></p>
<p class="MsoNormal">
	<span myriad="" style="font-size:10.0pt;mso-bidi-font-family:">We have to make the migrant workers understand that huge amounts can be invested in micro, technological and small and medium enterprises. This not only generates employment opportunities, but also stimulates demand for goods and services leading to increment in household income and acquisition of real estate. We can do this by providing trainings to migrant workers before they leave for their destination countries. We have to make them realize that their money would be invested in securing their future and they would have a stake in government projects. It will definitely encourage them to use the formal channels of remittance flow. Apart from it, the easy mechanism for remittance flow through banking channel has to be set up accordingly. Only then, the migrant workers would be encouraged to use the banking channel to send their money to Nepal.</span><br />
	<br />
	 </p>
<p class="MsoNormal">
	<strong><span myriad="" style="font-size:10.0pt;mso-bidi-font-family:">How do you think the families back in Nepal are utilizing the money received from migrant workers?</span> <br />
	</strong></p>
<p class="Pa10" style="text-align:justify">
	<span myriad="" style="font-size:10.0pt;
mso-bidi-font-family:">Instead of the money going to productive sectors, a significant chunk of the remittance is being spent on imports and real estate. Households that owned houses have decreased while those renting houses have increased. The houses of migrant workers have been modernized replacing thatched roof with steel roofs. Access to power has substantially increased too so are the households with safe drinking water, toilets and LPG for cooking. Consumption expenditure on food, housing, and education has increased resulting in a rise in the living standard. However, less money has been invested for capital formation at the macroeconomic level. </span></p>
<p class="MsoNormal">
	 </p>
<p class="MsoNormal">
	<strong>&nbsp;<span myriad="" style="font-size:10.0pt;mso-bidi-font-family:">It is said that the Foreign Employment Bond issued by the government has failed due to the uncooperative behaviors of manpower agencies. What is your take on it? What is your suggestion to best utilize the remittances sent by the migrant workers?</span><br />
	</strong></p>
<p class="MsoNormal">
	<span myriad="" style="font-size:10.0pt;
mso-bidi-font-family:">It is very unfair to say that manpower agencies have shown uncooperative behavior regarding the Foreign Employment Bond. Actually, there has not been enough publicity of the bond to the migrant workers. Besides, the migrant workers do not have much purchasing power as they have many financial obligations that need to be fulfilled with limited income.</span></p>
<p class="MsoNormal">
	<span myriad="" style="font-size:10.0pt;
mso-bidi-font-family:">As of now, remittance is being used in unproductive areas like building houses and other unnecessary products. It would be much better if remittance could be used in productive sector like education, hydro power etc.</span></p>
<p class="MsoNormal">
	<strong>&nbsp;</strong></p>
<p class="Pa23" style="margin-top:5.0pt;text-align:justify">
	<strong>&nbsp;<span myriad="" style="font-size:10.0pt;mso-bidi-font-family:">The welfare fund has collected around Rs one billion as of September 2011 but it has not been utilized or any productive work. What are the necessary steps that can be taken to properly utilize this amount?</span></strong></p>
<p class="MsoNormal">
	<span myriad="" style="font-size:10.0pt;
mso-bidi-font-family:">According to the Foreign Employment Act 2064 BS, the Foreign Employment Promotion Board is expected to use the amount collected under the Welfare Fund, in conducting foreign employment awareness programs in 72 districts. I, being a member of the said board, raise these issues to the government to address the problems faced by the migrant workers.</span></p>
<p class="Pa10" style="text-align:justify">
	<span myriad="" style="font-size:10.0pt;
mso-bidi-font-family:">In my opinion, the board has to provide loans with minimum interest to those working abroad. If their families who are in Nepal get loans, there is a good chance that they will invest such amount in the p</span></p>',
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			'description' => 'Income received as the Nepali workers’ remittances working abroad has become an automatic instrument for poverty reduction in Nepal. Remittance has been recognized as a key to solve various economic ills afflicting the country. Moreover, it has raised some obvious questions.',
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	<span class="A13"><span style="font-size:
59.0pt">T</span></span><span style="mso-tab-count:1">he Government of Nepal has declared 2012 as the Investment Year. It was apparently meant to attract international investment, or foreign direct investment (FDI) into Nepal. But as the year closes to its end, there still is not any case of significant FDI entering this country. Worse still, a number of companies with such investment have already pulled their shutters down, or, planning to do so. The recent example is the closure of Kathmandu franchisee outlets of the global food chain KFC and Pizza Hut. And, as of penning these lines, there was no convincing sign of them opening soon. Even if they did, the damage done by the reason of its closure – overtly politicized labour highhandedness – is sure to be a detracting factor for the potential investors. Moreover, this is the second such case after Surya Nepal closed its readymade garments’ unit some six months ago, also due to industrial disputes.&nbsp;&nbsp; <br />
	<br />
	</span><span style="mso-tab-count:1"><span class="A13"><span style="font-size:
59.0pt"><img alt="fromtheditor" border="1" height="212" hspace="5" src="http://www.newbusinessage.com/ckfinder/userfiles/Images/investment(1).jpg" vspace="5" width="330" /></span></span>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </span></p>
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	<span myriad="" style="font-size:10.0pt;mso-bidi-font-family:">Only political formalities like announcing an Investment Year by the government would never be enough to materially attract the investment. On the contrary if the ‘pull factors’ are adequate, such an investment would automatically flood in even without such announcements. Therefore, Nepal as the nation-state should first check whether such pull factors exist at all, at present.</span></p>
<p class="MsoNormal">
	<span myriad="" style="font-size:10.0pt;mso-bidi-font-family:">As the fact of the matter, they don’t exist at all. The prolonged political uncertainty, as claimed by all and sundry, is not only the distraction; the radical Reds at the helms of state affairs with the ‘Maoist’ tag is even larger scary factor. The ruling party here might furnish innumerable arguments to establish how investment-friendly they are prepared to be. But why would a potential investor take pain of subscribing these sugar-quoted arguments instead of reading the writing on the wall–THE MAOISTS; whatever it means?</span></p>
<p class="MsoNormal">
	<span myriad="" style="font-size:10.0pt;
mso-bidi-font-family:">The trade union leaders at the Pizza Hut, after its closure came-up with a lame-duck statement to prove their innocence claiming that they were just forming a unit there and were not planning even to ‘immediately’ strike. That may or may not be true. But why would any investor even take the risk of running the trade under the perennial duress in over-unionized set-up?</span></p>
<p class="MsoNormal">
	<span myriad="" style="font-size:10.0pt;
mso-bidi-font-family:">There are many instances that the industrial disputes are not limited to securing the trade union rights of any company concerned, but in fact the means to achieve political objectives of the mother Party one is affiliated to. It’s been years that collective bargaining processes enshrined in the labour laws of the country are grossly dishonoured. Sheer force and political protection to union activities has been the cardinal modus operandi in extracting benefits from the employers.</span></p>
<p class="MsoNormal">
	<span myriad="" style="font-size:10.0pt;line-height:115%;mso-bidi-font-family:
">Some other reasons like the power shortages, infrastructure deficits and lack of policy predictability could be cited as other bottlenecks to attract both international and domestic investment. They are but only secondary to overarching ultra-red communist image of the government and industrial anarchy created by the trade unions invariably led by party cadres rather than the workers. Not only international, even domestic investment is not likely to come by in any significant measure until and unless these fundamentals are changed for the better.<br />
	<br />
	<br />
	</span></p>',
			'published' => true,
			'created' => '2012-10-10',
			'modified' => '2012-10-30',
			'keywords' => '',
			'description' => 'The Government of Nepal has declared 2012 as the Investment Year. It was apparently meant to attract international investment, or foreign direct investment (FDI) into Nepal. But as the year closes to its end, there still is not any case of significant FDI entering this country. Worse still, a number of companies with such investment have already pulled their shutters down, or, planning to do so.',
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			'title' => 'Feedback September 2012',
			'sub_title' => '',
			'summary' => null,
			'content' => '<p>
	<strong><img alt="feedback" border="1" height="554" hspace="5" src="http://www.newbusinessage.com/ckfinder/userfiles/Images/businessage.jpg" vspace="5" width="452" /><br />
	<br />
	Pharmaceuticals Dilemma <br />
	</strong></p>
<p>
	The cover story on ‘Growing Business of Pharmaceutical Companies’ in your August issue is very inspiring. You have put great effort in highlighting the pros and cons of the pharmaceutical business. I was hitherto unknown about so many aspects of the pharmaceutical business. However, the fact is; there is a shortage of medicines all over the country that is making rural life tougher. The growing business of pharmaceutical industries is not helping in fulfilling the demand of essential medicines let alone the hightech medicines. Medicinal business must not be a money making business whereas industrialists should acknowledge that public support is vital in operating any industry. I am not against those industries running with profit either. What I want to highlight is the money motive of the industrialists which is stopping them from caring about the well being of the citizens besides their businesses. Government encouragement and incentives are also important in this regard. Apart from that, it is pitiful to learn that Nepali industries are competing with similar Nepal-made products. Furthermore, high prices of the medicines have been a headache to the general people. Good monitoring and inspection as carried out by the Department of Drug Administration (DDA) is praiseworthy but it is noted that without publicizing the facts, their hard work goes in vain. The conclusion of the story, however, talks about the future of pharmaceutical companies which indeed has shown a new ray of hope for the medicine business in Nepal.<strong><br />
	Achyut Giri, Baluwatar, Kathmandu</strong></p>
<p>
	<strong><br />
	</strong></p>
<p>
	<strong>Like Reading your Magazine</strong><br />
	<br />
	I am a student of management currently pursuing MBA. Since my aim is to become a business person, I like reading New Business Age as it features interviews and articles on prominent businessman. I hope to try to pursue the strategies and techniques that successful businessman apply in their business. I also like to see a number of international business people being features in your magazine. I was hoping to read about people from the banking sector in your August issue and surprisingly Global IME Bank Chairman Chandra Prasad Dhakal was featured there. It is certainly inspiring to read about somebody like him who had very humble beginnings. Reading your magazine has become a hit with my friends also. Every time I finished reading your magazine, I used to give it to my friends studying management with me. Now, they have started reading your magazine even before I do. <strong><br />
	Aashish Shrestha, New Road, Kathmandu</strong></p>
<p>
	<strong><br />
	</strong></p>
<p>
	<strong>Value Addition</strong></p>
<p>
	<br />
	The new design for the past few issues has made New Business Age very attractive. Extra pages have also added value to your magazine and it is certainly worth the money. It is heartening to note that the magazine is of international standard now, not only for its design and size, but also for its content. I have a collection of your magazine since a long time and I often like to refer to them for various work purposes. <br />
	<strong>Dilip Darji, Hetauda </strong></p>
<p>
	<br />
	<strong>Local People Involvement in Hydropower</strong><br />
	<br />
	Projects Investment from local people in hydropower projects as mentioned in your write up ‘Chilime Hydropower: Dreaming Large’ is a new initiation from the private sector. Business companies know that if local people are involved in the project, it will benefit the people as well as the company in the long run. People support and help in removing hurdles that come in the way of projects running in their locality. I think it is now time for people to initiate themselves if not encouraging closed or semi- closed hydropower projects. People who live close to the future hydropower projects must initiate in running uncertain projects by themselves or seek support from big business firms or aid agencies. Lastly, as we need more hydropower projects to get rid of the load shedding, I expect more write ups in your magazine to this effect in the upcoming issues.<br />
	<strong>Saraswati Kathayat, Mulpani, Chabahil</strong><br />
	<br />
	<br />
	<strong>Chilime Hydropower</strong><br />
	<br />
	<img align="left" alt="hydropower" border="1" height="131" hspace="10" src="http://www.newbusinessage.com/ckfinder/userfiles/Images/chilime.gif" style="width: 243px; height: 131px;margin:10px;padding:10px;" vspace="10" width="243" />In your August issue, there was coverage about Chilime Hydropower. You have mentioned about four other subsidiary hydropower projects along with Chilime Hydropower which I think is good news for people of this country who are troubled by the load shedding. Hydropower has been regarded as a medium to economic prosperity for a developing country like Nepal. I was happy to read about economic and technical preparations reaching final stage in relation to the construction of all four projects. These hydropower companies are expected to help in making Nepal a load shedding free country. It will ease daily life of the normal people as well. Since Chilime is based on 4p model –people-publicprivate- partnership; it proves that the role of private sector is very important in developing hydropower in Nepal. <br />
	<strong>Hira Sharma, Kohalpur, Banke&nbsp; <br />
	</strong></p>
<p>
	 </p>
<p>
	<strong><br />
	</strong></p>',
			'published' => true,
			'created' => '2012-10-04',
			'modified' => '2012-10-30',
			'keywords' => '',
			'description' => 'The cover story on ‘Growing Business of Pharmaceutical Companies’ in your August issue is very inspiring. You have put great effort in highlighting the pros and cons of the pharmaceutical business',
			'sortorder' => '598',
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			'title' => 'Bhatbhateni Opens Outlet At Pokhara',
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			'summary' => null,
			'content' => '<p>
	<img alt="bhatbateni" border="1" height="191" hspace="5" src="http://newbusinessage.com/ckfinder/userfiles/Images/bhatbateni.jpg" vspace="5" width="400" /><br />
	<br />
	Bhatbhateni Super Market and Departmental Store Pvt Ltd opened its new outlet at Pokhara on July 14. Min Bahadur Gurung, Managing Director of Bhat Bhateni Supermarket and Department Store, inaugurated the new Pokhara outlet. <br />
	<br />
	The opening ceremony was initiated with the slogan “Product of Pokhara, Product of Nepal.” It is the sixth chain of the store and the first outside the Kathmandu Valley. According to Gurung, around 50,000 customers attended the opening of the store including businesspersons, tourism entrepreneurs, Nepal army and police personalities and local people of Pokhara. He expressed his happiness as more number of people visited the store during the opening ceremony, which was double the amount he had expected. <br />
	<br />
	The group has invested Rs 750 million in its Pokhara expansion drive. Gurung informed that the rates of the goods sold from Pokhara stores would be similar as that of the stores in Kathmandu. The new outlet at Pokhara features daily commodities, food items, vegetables, fruits, liquors, kitchenware, garments, electronic appliances, furniture, and decorative items, among others. “We will be bringing the finest quality products from all over the world and also provide world class service to our customers,” said Gurung. <br />
	<br />
	Bhatbhateni will provide 10 percent discount on all products for one month at the Pokhara outlet. <br />
	<br />
	 </p>',
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			'description' => 'Bhatbhateni Super Market and Departmental Store Pvt Ltd opened its new outlet at Pokhara on July 14. Min Bahadur Gurung, Managing Director of Bhat Bhateni Supermarket and Department Store, inaugurated the new Pokhara outlet.',
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	(int) 11 => array(
		'Article' => array(
			'id' => '699',
			'article_category_id' => '34',
			'title' => 'Nepal Losing Out On FDI To Neighbouring Indian States',
			'sub_title' => '',
			'summary' => null,
			'content' => '<p>
	A good chunk of Foreign Direct Investment (FDI), perhaps meant for Nepal is finding its way to the neighbouring Indian states. The Indian states, specially those sharing borders with Nepal, such as Bihar, Uttar Pradesh, Uttaranchal etc are fast becoming preferred investment destinations for foreign investors, thanks to the rapid infrastructure development, investment friendly industrial policies and guarantee of investment security in India in recent times. <br />
	<br />
	Additionally, the political instability, strikes and extortions has hit the Nepali entrepreneurs adversely. Industrialists in Nepal have held responsible the government for lack of security. They have shown their dissatisfaction towards the government for narrowing the tax liberty rather than providing subsidies. <br />
	<br />
	Suraj Vaidya, President, FNCCI, said, “It is such a dreadful condition that the government has not been able to formulate economic agenda for overall industrial growth. “Investment securities are the major concern for both national and international investors these days. The present scenario would adversely affect the Nepali economy, thus losing out a large chunk of FDI to its southern neighbor, added Vaidya. Upper Karnali and Western Seti incidences have marked a bitter experience amongst the foreign investors. As stated by top officials of the federation, one Nepali Biscuit Industry vanished to India due to lack of favorable business environment. <br />
	<br />
	Dinesh Shrestha, Sectoral Committee Chairperson of FNCCI said, “The leaders of political parties have not been able to create favorable environment for investment. He urged the need to control the party workers to put a stop to the acts of extortion and strikes. The industrial policy drafted two years ago has not come into execution. This has resulted in creating discouragement amongst the Nepali industrialists. <br />
	<br />
	Currently, the financial indicators of Nepal are negative which stands at 134th position in terms of FDI within the list of 141 countries based on the World Investment Report-2011. Similarly, “Doing Business Index” of World Bank has considered Nepal as an unfavorable destination for Investment and doing business. This has relayed negative message in the international arena. On the other hand, foreign investors are lured towards neighbouring states of India due to flexibility in Indian FDI policies. <br />
	<br />
	Radhesh Pant, CEO, Investment Board, said, “Foreign investors seek “One Window Shop” and we have not been able to do adequate marketing of the available resources and other positive aspects.” There is a lack of coordination between the government and private sector in Nepal unlike India, added Panta. According to him, the government should provide investment security to existing investments along with seeking additional flow of FDIs. <br />
	<br />
	According to Vaidya, creating favorable investment environment and improvement in policies are primary steps towards attracting FDIs. Apart from it, political stability is the major factor governing this process. <br />
	 </p>',
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			'description' => 'A good chunk of Foreign Direct Investment (FDI), perhaps meant for Nepal is finding its way to the neighbouring Indian states. The Indian states, specially those sharing borders with Nepal, such as Bihar, Uttar Pradesh, Uttaranchal etc are fast becoming preferred investment destinations for foreign investors, thanks to the rapid infrastructure development, investment friendly industrial policies and guarantee of investment security in India in recent times.',
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		'Article' => array(
			'id' => '698',
			'article_category_id' => '34',
			'title' => 'NDEX Money Expo 2012 From August 31',
			'sub_title' => '',
			'summary' => null,
			'content' => '<p>
	<img alt="" border="1" height="115" hspace="5" src="http://newbusinessage.com/ckfinder/userfiles/Images/NDEX.jpg" vspace="5" width="400" /><br />
	<br />
	A three-day NDEX Money Expo 2012 will take place in the capital from August 31 to September 2. ‘Arthik Abhiyan’ daily and Jamb Technologies in association with Minds Nepal and Morningstar Investment Services are organizing the event. <br />
	<br />
	Inspired from the success of Money Expo 2011 held last year, and being able to obtain wide appreciation from different business groups, visitors, regulatory bodies and participants; “NDEX Money Expo 2012” is believed to be a mega financial event. Being the largest finance and investment show in Nepal, it will focus on the promotion of investment opportunities and wealth protection strategies. <br />
	<br />
	Suraj Vaidya, President of Federation of Nepalese Chambers of Commerce and Industry (FNCCI), said that the expo would help in motivating the investors and bring in investment by creating environment for interaction between different industrialists and business giants. <br />
	<br />
	“Events like this should be organized at regular intervals as they will definitely help improve investment climate in the country,” said Radesh Pant, CEO of Investment Board. Confederation of Nepalese Industries (CNI) Vice President Hari Bhakta Sharma urged the private sector to issue white paper to pressure the government. “Private sector must unite for a common minimum economic agenda and build pressure on the government,” he said. <br />
	<br />
	Similarly, Director of Nepal Rastra Bank Ashwani Kumar Thakur also urged to separate politics and economy for prosperity. Thakur told that he believes events like NDEX Money Expo 2012 would be highly effective to encourage and motivate investors. <br />
	<br />
	Bishnu Prasad Dhakal, Under Secretary at the Ministry of Industry, told that events like NDEX Money Expo 2012 should be a discussion platform on choosing the appropriate economic model of the country. He emphasized that the entrepreneurs should focus on the sectors having higher competitive advantage. Dhakal urged that domestic businesspersons should focus more on agriculture and hydroelectricity generation. <br />
	<br />
	“It will offer complete financial and investment solutions,” said Chairman of Arthik Abhiyan daily Madan Lamsal. The expo will focus on the promotion of investment opportunities and wealth protection strategies, he said. <br />
	<br />
	Speaking at the event, Kush Kumar Joshi, Chairman of Nepal Infrastructure Development Company Ltd, said that until and unless there is sufficient domestic investment, foreign investment cannot be expected. He urged collection of funds from the domestic sector for the infrastructure development of the country. He added that the basic prerequisite in inviting foreign investment is the development of the internal infrastructure. The expo is a unique businessnetworking event for the companies of financial sectors and their constituents. It provides investors a valuable opportunity to speak directly with the nation´s top financial experts related to trading and investment, banking, insurance, mutual funds, stocks, tax strategies, commodities and personal financial planning. <br />
	<br />
	The expo will have more than 122 stalls of different regulatory bodies, stock and commodity exchanges, banks and financial institutions, merchant bankers, investment companies, brokerage companies, remittance companies, insurance companies, depositors and clearing houses, portfolio management companies, financial knowledge management and training institutes, microfinance and cooperatives, traders and investors associations and clubs and financial domain technologies among others. Besides, various other events like seminars and speeches from financial experts, regulators, analyst and top investors, art exhibition and quiz contest, national and international currency show, trading and investment movie show will also be organized at the sidelines of the expo. <br />
	<br />
	<strong><br />
	The organizers are expecting a footfall of more than 300,000 at the event. </strong><br />
	<br />
	 </p>',
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			'description' => 'A three-day NDEX Money Expo 2012 will take place in the capital from August 31 to September 2. ‘Arthik Abhiyan’ daily and Jamb Technologies in association with Minds Nepal and Morningstar Investment Services are organizing the event.',
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			'id' => '697',
			'article_category_id' => '34',
			'title' => 'Samsung Plaza Completes 10 Years',
			'sub_title' => '',
			'summary' => null,
			'content' => '<p>
	<br />
	<img alt="samsung plaza" border="1" height="264" hspace="5" src="http://newbusinessage.com/ckfinder/userfiles/Images/samsung(2).jpg" vspace="5" width="300" /><br />
	<br />
	<br />
	Samsung Plaza Durbar Marg has completed 10 years of its operations successfully. It is an exclusive brand outlet of Samsung AudioVisual (AV) and Home Appliances (HA) products of Him Electronics, the authorized distributor of Global No. 1 Consumer Electronics Brand in Nepal. According to Seema Golchha, Director of Samsung Plaza, “We feel immensely happy after the successful completion of 10 years of Samsung Plaza and would like to give this credit to all of our valued customers. <br />
	<br />
	<br />
	Samsung Plaza showcases and retails Samsung’s latest technology products including Audio Visual Products, Home Appliances and Samsung’s Camera. It is an outlet that sells Samsung Products to the customers and provides exclusive services like high value purchase, after sales services, purchase counselling, doorstep delivery and free installation. Along with Durbar Marg, Samsung Plaza has expanded its service in Civil Mall, New Baneshwor and Kumaripati throughout the period of 10 years. <br />
	<br />
	 </p>',
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			'description' => 'Samsung Plaza Durbar Marg has completed 10 years of its operations successfully. It is an exclusive brand outlet of Samsung AudioVisual (AV) and Home Appliances (HA) products of Him Electronics, the authorized distributor of Global No. 1 Consumer Electronics Brand in Nepal. According to Seema Golchha, Director of Samsung Plaza, “We feel immensely happy after the successful completion of 10 years of Samsung Plaza and would like to give this credit to all of our valued customers.',
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			'title' => 'Maximising Business Productivity',
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			'content' => '<p>
	<img alt="maixmizing" border="1" height="269" hspace="5" src="http://newbusinessage.com/ckfinder/userfiles/Images/microsoft.jpg" vspace="5" width="500" /><br />
	<br />
	<br />
	Thakral One, the end-to-end business solution provider for emerging markets, and Microsoft Corp recently concluded an event titled ‘Maximising Business Productivity’. <br />
	<br />
	<br />
	The event, attended by senior executives from across industries, provided the platform to highlight the need for deploying user-friendly applications and optimized infrastructure for organisations looking at sustaining as well as growing in the current dynamic business environment. Director - Asia Pacific Region at Microsoft, Alexander Oddoz- Mazet, shared with the audience how an exponential evolution of technologies and infrastructure, done independently in most cases, is creating communication silos and hence, there is a necessity of streamlining communications within the business world. Unified communications and business productivity solutions from Microsoft provide the answers to challenges such as these. <br />
	<br />
	Nabin Joshi, AGM-Sales &amp; Marketing of Thakral One, said, “Microsoft SharePoint is a business collaboration platform offering for the enterprise which would enable portal, workflow, business intelligence, enterprise search and content management capabilities. While commenting on Microsoft Unified Communications as a way to reduce complexity by putting people at the centre of the communications experience, Deependra Raj Bajracharya, Partner Account Manager (Nepal) of Microsoft Bangladesh Limited, said, “The goal is to integrate all of the ways we contact each other in a single environment while providing businesses with the power to choose how they provision those services.”<br />
	<br />
	Describing Thakral One’s commitment to its clients and partnership with Microsoft, Arun Khatri, Manager – Business Development – Enterprise Solution at Thakral One, said, “We are delighted to work with Microsoft for extending unified communications and business productivity solutions to our clients.” He added, “Our focus on building local infrastructure and endto- end skill sets, along with the proven methodologies that the Microsoft- Thakral One partnership brings to the table, will enable our customers to innovate and adapt to dynamic market conditions.” <br />
	<br />
	<br />
	The conference also delved on topics like the importance of optimising infrastructure, assessing and streamlining processes and, maximising team interactions and productivity. The evening ended with an invitation to the attendees to participate in the Customer Immersion Experience (CIE) – A unique opportunity for organisations and their end-users to get a rich, handson interactive experience, in a true-tolife environment, unlike traditional product presentations or demos. <br />
	<br />
	 </p>',
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	<span class="A13"><span style="font-size:
59.0pt"><img alt="cocacola" border="1" height="187" hspace="10" src="http://newbusinessage.com/ckfinder/userfiles/Images/cocacola(1).jpg" vspace="10" width="227" /><br />
	T</span></span><span myriad="" style="font-size:10.0pt;mso-bidi-font-family:">ime and again, we hear about intense competition between brands. Companies try to prove their superiority over their rivals and to outsmart them which sometimes turn into brand wars. How does one differentiate products that have the same attributes? The only way is to position it differently through advertising campaigns and outrun the competition. Some classic examples are that of Coke Vs Pepsi along with some others like Horlicks Vs Complan.</span></p>
<p>
	&nbsp;<span myriad="" style="font-size:10.0pt;mso-bidi-font-family:">A research indicates that one could not distinguish between Coke and Pepsi in a blind test so, technically, they are the same. However, with smart positioning of Coke, brands like Sprite and Fanta have made them more appealing to the consumers. Locally, Sprite’s ongoing “Bato Clear Chha” campaign is being liked by the masses for its fresh approach to a mundane product. On the other hand, Pepsi has embarked on a global approach focusing on comparatively healthy drinks like Lipton Cold Tea and Tropicana Juice. With the obesity problem, lifestyles have changed thus urging companies to come up with healthier products. In that spirit, the company is giving more attention to water, juices and sports drinks which seems like a logical approach.</span> <br />
	<br />
	<img alt="airlines" border="1" height="201" hspace="10" src="http://newbusinessage.com/ckfinder/userfiles/Images/horlicks.jpg" vspace="10" width="300" /></p>
<p class="Default">
	<span myriad="" style="font-size:10.0pt;
mso-bidi-font-family:">There is an ongoing battle between Horlicks and Complan, both claiming their beverage can make children sharper, taller and stronger. The ad claims that children who were served Complan grew twice as fast to those on a regular diet due to its milk protein and nutrients. It also builds credibility by saying “Approved by Department of Food Science and Nutrition”. There is an ongoing case filed by the makers of Horlicks against Complan for allegedly damaging their reputation. In recent times, Horlicks is into a new strategy targeting working adults too and not just kids.</span></p>
<p class="Default">
	<span myriad="" style="font-size:10.0pt;
mso-bidi-font-family:">Buddha Air and Yeti Air, the giants in Nepal’s domestic aviation, saw a similar war going sometime back. One claimed their engine as slicker and superior while the other claimed their commitment to safety and convenience for passengers. Keeping aside the technical superiority of their airplanes, one thing that the ‘war’ did was to keep the two brands in the minds of the customers. At the end, it’s of course the customer who decides on the brand they feel emotionally connected with and not necessarily the functional superiority.</span></p>
<p class="Default">
	<span myriad="" style="font-size:10.0pt;
mso-bidi-font-family:">Many brands fought their own battles to cash in on the recently held London Olympic Games, the greatest sporting event, as well. While athletes all over the world flexed their muscles eying gold medals, companies made bids to get maximum exposure for their brands during the event. One of the surprise winners is Twitter which became popular because of inappropriate tweets from athletes. It was the first time when a social network brand cashed in on the Olympics. Well known sporting brand Puma’s bet on the world’s fastest man Usain Bolt paid off handsomely with unprecedented brand exposure during the games. Similarly, Nike and Gatorade too got their share of the pie. All in all, brand wars are more about reputation wars rather than product superiority. Since the competing brands in a certain category hardly have any differentiation product-wise, the only way out is to go head-on with the competition.</span> <br />
	<b style="mso-bidi-font-weight:normal">&nbsp;</b></p>
<p class="MsoNormal">
	<b style="mso-bidi-font-weight:normal"><span style="font-size:8.0pt;line-height:115%;color:#211D1E">Karki can be reached at sajag_karki@hotmail.com. The article is based on research and author’s practical experience as a marketing and advertising professional.<br />
	<br />
	<br />
	<br />
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mso-hansi-theme-font:minor-latin;mso-bidi-font-family:Impact">Stock Taking</span></span></p>
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	<span style="font-size:11.5pt;line-height:115%;mso-bidi-font-family:
&quot;Myriad Pro&quot;;color:#211D1E">&nbsp;The fourth quarterly reports of the companies failed to boost the market</span></p>
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	<span class="A13"><span style="font-size:
59.0pt">W</span></span><span style="font-size:10.0pt;mso-bidi-font-family:&quot;Myriad Pro&quot;;
color:#211D1E">hile the fourth quarterly reports of the previous fiscal year were coming in, it looked like that the share market of Nepal was going to get another boost. Almost all the banks and financial institutions (a sector that dominates this market) were reporting increased profit for the previous year. But that did not happen. The benchmark Nepse index lost 11.53 points or 2.91% to rest at 396.83 at the end of the review month. The session’s high was on 23 July (408.36) and the low was on 15 August (392.03).</span> </p>
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	<span style="font-size:10.0pt;mso-bidi-font-family:&quot;Myriad Pro&quot;;color:#211D1E">The reason was however obvious. The investors ignored the satisfactory reports as pessimistic sentiments (about dividend yield) ruled the environment. Shares of major blue chip companies fell down despite the companies showing healthy performance in the last year.</span>&nbsp; <span style="font-size:10.0pt;mso-bidi-font-family:&quot;Myriad Pro&quot;;color:#211D1E">However the hydropower companies were exceptions as they registered straight growth stoking expectations of attractive dividends. Three out of the four listed hydropower companies reported grown in their income pushing the group index up.</span> </p>
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	<span style="font-size:10.0pt;mso-bidi-font-family:&quot;Myriad Pro&quot;;color:#211D1E">Also the monetary policy for the fiscal year 2069/70 failed to drive the stock market. The policy has increases Cash Reserve Ratio (CRR) for the Banking and Financial institutions. This is sure to push up the lending rates causing restraint in borrowing and thus in the business volume and profits of the banking companies.</span> <span style="font-size:10.0pt;mso-bidi-font-family:&quot;Myriad Pro&quot;;color:#211D1E">In the review period, the Securities Board of Nepal (SEBON) has suggested Citizen Investment Trust CIT) to mobilize Rs 5 billion in the secondary market to boost up the sagging sentiments in the market. CIT says it is evaluating the feasibility to undertake the role of a market maker. If CIT really takes up this role, it will be a milestone for the betterment of capital market in Nepal.</span> </p>
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	 </p>
<p class="Default">
	<strong>&nbsp;</strong></p>
<p class="Pa15" style="margin-top:5.0pt">
	<strong><span style="font-size:11.5pt;
mso-bidi-font-family:&quot;Myriad Pro&quot;;color:#211D1E">Performance by Sector </span></strong></p>
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	 </p>
<p class="Default">
	<strong>&nbsp;</strong><span style="font-size:10.0pt;
mso-bidi-font-family:&quot;Myriad Pro&quot;;color:#211D1E">Banking sector which occupies the major volume of trade in the exchange plummeted 26.68 points or 7.52% to 354.7. Finance sector descended 12.74 points or 5.05% to 252.21 while development bank lost 6.92 points to close at 246.18. Trading sector receded 4.23 points to come to 187.74. However hydropower sector gained hefty 65.69 points of 8.53% to settle at 770.53. Manufacturing sector too went up 42.06 points to 728.8 while there was 17.62 points increase in others to 635.62.</span> </p>
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	<span style="font-size:10.0pt;
mso-bidi-font-family:&quot;Myriad Pro&quot;;color:#211D1E">Sensitive index that measures the performance of 133 blue chips plunged 1.78 points or 1.74% to 102.11 while the float index calculated on the basis of real transaction went down 1.41 points or 4.64% to 30.37. The turnover was of Rs. 1,362,406,374 during the review period from 4,572,497 units of share traded via 27,297 transactions. </span></p>
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	<span style="font-size:10.0pt;
mso-bidi-font-family:&quot;Myriad Pro&quot;;color:#211D1E">The accompanying figure shows the sector-wise distribution based on the total volume of trade. Commercial bank has accounted for 63.31% of total volume of trade. Hydropower sector occupied 20.49% while remaining sector covered the rest.</span> </p>
<p class="Pa10" style="text-align:justify">
	<span style="font-size:10.0pt;
mso-bidi-font-family:&quot;Myriad Pro&quot;;color:#211D1E">Technically, the Simple Moving Average (SMA) indicates to stagnation in the short term as both Nepse index and 30 days SMA are moving flat. In the long term analysis, the index has already crossed the 200 days SMA indicating that an absence of strong fundamentals will lead to correction. </span></p>
<p class="Default">
	 </p>
<p class="Default">
	 </p>
<p class="MsoNormal">
	<strong>&nbsp;<span style="font-size:8.0pt;line-height:115%;mso-bidi-font-family:
&quot;Myriad Pro&quot;;color:#211D1E">Chitrakar is a Stock Analyst with Jamb Technologies Pvt Ltd.</span></strong></p>
<p class="MsoNormal">
	 </p>
<p class="MsoNormal">
	<strong><span style="font-size:8.0pt;line-height:115%;mso-bidi-font-family:
&quot;Myriad Pro&quot;;color:#211D1E">&nbsp;</span></strong></p>
<p class="MsoNormal">
	<img alt="stock taking" border="1" height="1180" hspace="10" src="http://newbusinessage.com/ckfinder/userfiles/Images/sector.jpg" vspace="10" width="400" /></p>
<p class="MsoNormal">
	 </p>',
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			'description' => 'While the fourth quarterly reports of the previous fiscal year were coming in, it looked like that the share market of Nepal was going to get another boost. Almost all the banks and financial institutions (a sector that dominates this market) were reporting increased profit for the previous year. But that did not happen. The benchmark Nepse index lost 11.53 points or 2.91% to rest at 396.83 at the end of the review month. The session’s high was on 23 July (408.36) and the low was on 15 August (392.03).',
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			'title' => 'Heritage Spa  A Serene Destination',
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			'content' => '<p>
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<p class="MsoNormal">
	<span myriad="" style="font-size:15.0pt;line-height:115%;mso-bidi-font-family:
"><br />
	<span style="font-size: 12px;">&nbsp;</span><span myriad="" style="font-size: 15pt; line-height: 115%;">&nbsp;</span><span style="font-size: 15pt;">“We offer a warm hospitality and also have a beautiful garden to ensure a calming atmosphere.”</span></span></p>
<p class="Default">
	&nbsp;<img alt="kumar" border="1" height="184" hspace="10" src="http://newbusinessage.com/ckfinder/userfiles/Images/spadirector.jpg" vspace="10" width="144" /></p>
<address>
	<strong><span class="A5"><span style="font-size:10.0pt">Kumar R Maharjan &nbsp;</span></span></strong></address>
<address>
	<strong><span class="A5"><span style="font-size:10.0pt">Chairman </span></span></strong></address>
<address>
	<strong><span class="A5"><span myriad="" style="font-size:10.0pt;line-height:
115%;font-family:">Heritage Spa</span></span></strong></address>
<p class="MsoNormal">
	<span class="A13"><span style="font-size:
59.0pt">W</span></span><span myriad="" style="font-size: 10pt;">ho wouldn’t love relaxation after a long and stressful day at work? Heritage Spa, with a tagline ‘an invitation for relaxation’, has come up with various stress-busting therapies. The spa is located in a serene and peaceful setting within the heart of maddening and bustling city of Kathmandu. Heritage Spa, located at Sanepa Height, has proven to be an easy getaway from a tiresome and stressful day.</span></p>
<p class="Default">
	<span myriad="" style="font-size:10.0pt;
mso-bidi-font-family:">Kumar R Maharjan, Chairman at the Heritage Spa says that in partnership with his friend, the spa was established in October 2011. It was started with a motive to offer relaxation to people, right next to their door at an affordable cost and within a short duration. “Irrespective of the profession one chooses, s/he needs relaxation due to stressful working hours. Usually, working people suffer from body pain, stiff muscles, mental stress and similar other problems,” he says, “This is a place where they can get rid of such stresses.”</span></p>
<p class="Default">
	<span myriad="" style="font-size:10.0pt;
mso-bidi-font-family:">Maharjan says that there are various categories of spas. However, a spa needs appropriate location with peace and tranquillity. He believes a customer should be able to feel the positive vibe at the moment of entering the spa. “We offer a warm hospitality and also have a beautiful garden to ensure a calming atmosphere,” he says.</span></p>
<p class="Default">
	<span myriad="" style="font-size:10.0pt;
mso-bidi-font-family:">According to Maharjan, Heritage Spa does not use any chemical-based products for any of its service offerings. The spa even produces Aloe Vera – needed for various therapies – on its own. The company believes that anything that is not to be eaten should not be applied on the skin either.</span> <br />
	<br />
	<img alt="Heritage Spa" border="1" height="227" hspace="10" src="http://newbusinessage.com/ckfinder/userfiles/Images/product_1.jpg" style="float:left; margin:0 10px 0 0;" vspace="10" width="400" /></p>
<p class="Default">
	<span myriad="" style="font-size:10.0pt;
mso-bidi-font-family:">Heritage Spa offers over two dozen services which cover treatments from head to toe. The spa claims to be the specialist in Swedish style facial and body massage. A session at Heritage Spa ranges anything from Rs 450 for a steam bath to Rs 3,500 for a ‘Shirodhara’. Maharjan explains that ‘Shirodhara’ is a therapy designed to eliminate mental exhaustion as well as stress and any ill effects on the central nervous system.</span></p>
<p class="Default">
	<span myriad="" style="font-size:10.0pt;mso-bidi-font-family:">The spa offers its signature services for both males and females. Reena Shrestha, Aesthetician at the spa says that males prefer receiving services before special occasions and parties while women do not need any special occasion as they always love to feel and look beautiful. <span style="mso-spacerun:yes">&nbsp;</span>Swedish style Facial is one of the signature services offered by the spa which involves pressing the right nodes in the face that makes the skin look younger. Shrestha says that use of natural products like almond, honey, milk, cucumber, Aloe Vera along with the right technique nourishes the skin and leaves a refreshing result.</span></p>
<p class="Default">
	<span myriad="" style="font-size:10.0pt;mso-bidi-font-family:">Similarly, Raw Coffee Body Scrub would be a perfect option for those looking to purify and cleanse dead skin cells from the body that ensures smooth and supple looks. Maharjan adds that body scrubs are equally beneficial for elderly people and the youngsters. Likewise, the Camphor Oil Body Treatment is one of the most demanded signature services at the spa. Using traditional ayurvedic methods of massage, the therapy heals painful tight muscles, removes toxins and unblocks energy flow. The massage session that takes around 60 to 90 minutes releases tensions and stress from the body.</span></p>
<p class="Default">
	<span myriad="" style="font-size:10.0pt;mso-bidi-font-family:">Other than these, the spa offers services and therapies that include Head and Shoulder Treatment, Purifying Bio Fruit Facial, European Style Spa Treatment, Sugar Body Polish and Scrub, Healing Package for Elder Citizens, Hot Stone Therapy and Massage for Trekkers/Hikers among 25 various services. It also has service categories for teenagers, working people and senior citizens.</span></p>
<p class="Default">
	<span myriad="" style="font-size:10.0pt;
mso-bidi-font-family:">Currently, the spa has ongoing seasonal offering named Sexy Legs targeted at teenage girls for the summer season. Shrestha says that teenagers like to look good and stylish so the spa is trying to cash this sentiment. The offer includes waxing of leg and removing dark spots in elbow and other body parts. “Polishing with brown sugar gives a silky smooth and glowing finish to their legs,” says Maharjan. During the winter, the spa runs grooming service as well.</span></p>
<p class="Default">
	<span myriad="" style="font-size:10.0pt;
mso-bidi-font-family:">Adherence to the ethical practices is the speciality of Heritage Spa while being committed to the service excellence at the same time. When a customer enters the spa, s/he is accorded a warm hospitality. Further, the confidence of the customers is gained by properly explaining the procedures and making them understand all the dos and don’ts of the services. Maharjan says that highest degree of ethics is maintained at the staff level to provide customer satisfaction to the clients. “Even if a customer does not have any idea about spa treatments, we suggest and recommend the right services for them along with service etiquettes,” he adds.</span></p>
<p class="Default">
	<span myriad="" style="font-size:10.0pt;
mso-bidi-font-family:">Availing services at the Heritage Spa requires at least two hours prior bookings. Maharjan says that people like his spa because it is run by aestheticians trained abroad. The spa is open from 8 am to 8 pm and can offer services to 10 people at once. He adds that 15 per cent of sales are made through Internet bookings.</span></p>
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	<span myriad="" style="font-size:10.0pt;
mso-bidi-font-family:"><img alt="heritage" border="1" height="360" hspace="10" src="http://newbusinessage.com/ckfinder/userfiles/Images/product_focus.jpg" style="font-size: 20px; line-height: 23px;" vspace="10" width="531" /></span></p>
<p class="Pa10" style="text-align:justify">
	<span style="font-size: 10pt;">An average monthly clientele comprises of 60 per cent expatriates as the spa is located right next to a number of NGOs and INGOs around where many expats and employees of these organisations reside. The rest 40 per cent clientele comprises the locals of the area.</span></p>
<p class="Default">
	 </p>
<p class="Default">
	<span style="font-size: 10pt; text-align: justify;">The Heritage Spa is planning to develop itself as a centre for excellent spa services. The spa has its own training academy and is planning to operate a CIDESCO (Comite International Desthetique Et De Cosmetologie) – an international organisation headquartered in Zurich that offers trainings and diplomas on Aesthetics – affiliated spa academy by 2014. Maharjan believes that having a spa academy will help filling the gap between demand and supply of qualified therapists in the market.</span></p>
<p class="Default">
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			'title' => 'Pilot Pens Everyone’s Favourite',
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<p>
	<span class="A46"><span style="font-size:
40.0pt;line-height:115%;font-family:&quot;Calibri&quot;,&quot;sans-serif&quot;;mso-ascii-theme-font:
minor-latin;mso-hansi-theme-font:minor-latin;mso-bidi-font-family:&quot;Myriad Pro&quot;"><img alt="deepak kumar " border="1" height="189" hspace="10" src="http://newbusinessage.com/ckfinder/userfiles/Images/deepal.jpg" vspace="10" width="152" /></span></span><br />
	<strong>DEEPAL KUMAR PURKOTI<span class="A5"><span style="font-size:
10.0pt"><br />
	Sales and Marketing Manager</span></span><br />
	Fair Trade Pvt Ltd</strong></p>
<p class="Default" style="margin-left:.5in">
	<strong><span class="A5"><span style="font-size:10.0pt"><br />
	<br />
	<br />
	</span></span></strong><span class="A13"><span style="font-size:59.0pt;mso-bidi-font-family:
&quot;Times New Roman&quot;;mso-bidi-theme-font:minor-bidi">N</span></span><span style="font-size:10.0pt;
mso-bidi-font-family:&quot;Times New Roman&quot;;mso-bidi-theme-font:minor-bidi;
color:#211D1E">o matter how much writing is being tried to be replaced by modern tools like computers and tablet PCs, writing wouldn’t be complete without a pen. When a writer’s pen writes smooth like silk and bears a powerful brand name, it would prove a cherry on top. Young toddlers to professional executives and everybody in between would love a pen that writes at every occasion. Fair Trade Pvt Ltd (FTPL), the sole authorised distributor of Pilot pens for Nepal, brings pens for all from the well known stationery brand from Japan - Pilot. <br />
	</span></p>
<p class="Pa10" style="margin-left:.5in;text-indent:14.0pt">
	<img align="left" alt="pilot" border="1" height="252" hspace="10" src="http://newbusinessage.com/ckfinder/userfiles/Images/polit.jpg" style="margin:10px;padding:10px;" vspace="10" width="334" /><span style="font-size:10.0pt;color:#211D1E">The company has made easy availability of original pens from Pilot brand at affordable prices. Besides Kathmandu, rural Nepal also receives genuine products from Pilot through the dealerships spread over major cities in various parts of Nepal. Currently, the company has dealers in Biratnagar, Birgunj, Pokhara, Narayanghat and Hetauda, said Deepal Kumar Purkoti, Sales and Marketing Manager at FTPL. He said that the company is planning to open around three new showrooms in the near future. Through these showrooms, the company targets to reach every district and the remote villages too. <br style="mso-special-character:line-break" />
	</span></p>
<p>
	 </p>
<p class="Pa10" style="margin-left:.5in">
	<span style="font-size:10.0pt;
color:#211D1E">Though the company is distributing imported pens at the moment, it is also planning to produce pens within the country that bears the brand name of Pilot. “In around one-and-a-half-year’s time, FTPL is planning to produce certain products within the country,” Purkoti revealed. The company is planning to begin production in Nepal with a low segment pen and then expand into different categories. It is in the procedure to finalise the location for setting up the industry and investment volume. Similarly, the production capacity is not finalised yet, said Purkoti. <br style="mso-special-character:line-break" />
	</span></p>
<p class="Pa10" style="margin-left:.5in">
	<span style="font-size:10.0pt;
color:#211D1E">According to him, around 1.5 million Pilot pens are sold in Nepal annually. Super-GP, V5 series, board markers, permanent markers, gel pens, ball pens, mechanical pencils are some of the most popular categories of pens sold in Nepal. Similarly, V5 pens are popular among government officials and professionals as it is smooth and easy to write even in the Nepali paper used in government offices. Super GP, ball pens and gel pens are especially popular among students. At its showroom at Dharmapath in New Road, Pilot pens cost anywhere from Rs 15 to Rs 30,000. The fountain pen costing Rs 30,000 bears an 18-carat gold nib and cover holder. <br style="mso-special-character:line-break" />
	</span></p>
<p class="Pa10" style="margin-left:.5in;text-indent:14.0pt">
	<span style="font-size:10.0pt;color:#211D1E">The showroom was established around a year back with an investment of Rs 3 million. With the growing awareness among people about the brand, Purkoti revealed that the sale of Pilot pens lately is in an increasing </span><span style="font-size:10.0pt;mso-bidi-font-family:
&quot;Myriad Pro&quot;;color:#211D1E">trend. The company imports Pilot pens from Japan. <br style="mso-special-character:line-break" />
	</span></p>
<p class="Pa10" style="margin-left:.5in;text-indent:14.0pt">
	<span style="font-size:10.0pt;mso-bidi-font-family:&quot;Myriad Pro&quot;;color:#211D1E">Dr Grip is one such pen that has antiseptic, anti-smell, anti-sweating and bacteria-free characteristics. The pen, true to its name, is even certified by doctors and costs from Rs 500 to Rs 900. Likewise FriXion series pens can write, erase and rewrite. This pen is strongly discouraged for using in examinations and signing important documents. B2P is a distinctive ball pen that is made out of recycled water bottles. The store has over 250 varieties of Pilot pens. The company is planning to bring in pens that cost around Rs 10, in the near future. FTPL is going to add more products to the available range. These upcoming products include fountain pens, V series, sketch pens, mechanical pencils, gel markers, board markers, FriXion colour sets and other products for children. </span></p>
<p class="Pa10" style="margin-left:.5in;text-indent:14.0pt">
	<span style="font-size:10.0pt;mso-bidi-font-family:&quot;Myriad Pro&quot;;color:#211D1E">FTPL has held the dealership of Pilot pen in Nepal for 30 years. It is a trading company that is in existence for three decades and has been involved in importing garments, Pilot pens, Konica Minolta products and medical equipments among others. There are 40 employees working for the company. <br style="mso-special-character:line-break" />
	</span></p>
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	<span style="font-size:10.0pt;
mso-bidi-font-family:&quot;Myriad Pro&quot;;color:#211D1E">The company is revamping its marketing strategy. Purkoti says that old dealings will be done in newer ways like having wholesalers and distributors in all five development regions. Similarly, FTPL is planning to introduce promotional offerings for both customers and retailers. It will also undertake awareness campaigns by setting up stalls at schools and colleges to spread information to students. The company is planning to give away certain pens at the purchase amounting higher than a certain limit. Likewise, it is also thinking of giving special offers and gift hampers to dealers as well. <br style="mso-special-character:line-break" />
	</span></p>
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	<span style="font-size:10.0pt;
line-height:115%;mso-bidi-font-family:&quot;Myriad Pro&quot;;color:#211D1E">FTPL believes in delivering quality. Similarly, it envisions each and every person writing with Pilot pens. The company does not feel competition in the market on account of either quality or brand value. However, Purkoti accepts the competition with regards to the price. Purkoti feels the absence of legal mechanism to demoralise the availability of counterfeit products. He recommends the customers to look for quality rather than the price and always choose genuine products.<br style="mso-special-character:line-break" />
	</span></p>',
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	<span class="A35"><span style="font-size:15.0pt;line-height:
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	<span class="A35"><span style="font-size:15.0pt;line-height:
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	<span style="font-size:11.5pt;line-height:115%;mso-bidi-font-family:
&quot;Myriad Pro&quot;;color:#221E1F">Knowledge, skills, aptitudes, interest, body language and attitudes are major factors which determine in selecting right candidates.<br />
	<br />
	<img alt="mangement" border="1" height="208" hspace="10" src="http://www.newbusinessage.com/ckfinder/userfiles/Images/management(3).jpg" vspace="10" width="336" /><br />
	</span></p>
<p class="Pa10" style="text-align:justify;text-indent:14.0pt">
	<span class="A13"><span style="font-size:
59.0pt">S</span></span><span style="font-size:10.0pt;mso-bidi-font-family:&quot;Myriad Pro&quot;;
color:#221E1F">creening and selecting the right candidates for organizations has been a major and challenging role for Human Resource (HR) professionals in various organizations. The process of collecting and evaluating information about an individual in order to extend an offer of employment is called employee selection. Through effective selection, an organization can maximize the probability that its new employees will have the necessary KSAs (knowledge, skills, and abilities and attitudes) to do the jobs they were hired to do. Effective employee selection is a critical component of a successful organization. <br />
	<br />
	</span><br />
	<strong><span style="font-size:11.5pt;
mso-bidi-font-family:&quot;Myriad Pro&quot;;color:#221E1F">Reach Out to Applicants</span>&nbsp; </strong><span style="font-size:10.0pt;mso-bidi-font-family:&quot;Myriad Pro&quot;;color:#221E1F"><br />
	<br />
	Screening and selecting candidates are comprehensive processes. Reaching out to the eligible candidates is the first step for successful recruitment. In the Nepali context, people prefer to read Nepali text despite their ability to read English content. Therefore, publication of vacancy advertisements with required details in Nepali magazines can have a comparative benefit. Similarly, the development and use of job specific forms helps to screen the serious and capable candidates. The process should be simple and screening criteria must be flexible that would help the HR professionals to find the right candidates. </span></p>
<p class="MsoNormal">
	&nbsp; </p>
<p class="Pa15" style="margin-top:5.0pt">
	<strong><span style="font-size:11.5pt;
mso-bidi-font-family:&quot;Myriad Pro&quot;;color:#221E1F">Reference Checking</span></strong></p>
<p class="Pa15" style="margin-top:5.0pt">
	 </p>
<p class="MsoNormal">
	<strong>&nbsp;</strong><span style="font-size:10.0pt;mso-bidi-font-family:&quot;Myriad Pro&quot;;color:#221E1F">Reference checking is one of the methods that have been used by various organizations in selecting the right candidate. It is recommended that an option should be given to the candidate regarding referee change if the candidate thinks that the mentioned referee cannot correctly explain his/her details during the interview phase. Therefore, a referee should be someone who knows the candidate well and who can be easily approached by the organization when required but should not necessarily be someone holding a strong position.</span> </p>
<p class="Pa10" style="text-align:justify">
	<span style="font-size:10.0pt;
mso-bidi-font-family:&quot;Myriad Pro&quot;;color:#221E1F">Similarly, reference check has to be done from both ends i.e. previous employers and also from the candidate themselves in order to avoid biasness. There are Credit information Bureaus in a few organizations that conduct reference checking for their respective organizations. </span></p>
<p class="MsoNormal">
	&nbsp;<img alt="employer" border="1" height="208" hspace="10" src="http://www.newbusinessage.com/ckfinder/userfiles/Images/men.jpg" vspace="10" width="336" /></p>
<p class="MsoNormal">
	 </p>
<p class="Pa15" style="margin-top:5.0pt">
	<strong><span style="font-size:11.5pt;
mso-bidi-font-family:&quot;Myriad Pro&quot;;color:#221E1F">Employer Branding</span></strong></p>
<p class="Pa10" style="text-align:justify">
	<strong>&nbsp;</strong><span style="font-size:10.0pt;
mso-bidi-font-family:&quot;Myriad Pro&quot;;color:#221E1F">Candidates prefer to join Banks/INGOs and the major reason for it is the availability of transparency in terms of facilities. Generally, the limited companies have good employer brands in the market due to their transparency in facilities. Effective employer branding would contribute in reaching and attracting the right and competent candidates. </span></p>
<p class="MsoNormal">
	&nbsp; </p>
<p class="Pa15" style="margin-top:5.0pt">
	<strong><span style="font-size:11.5pt;
mso-bidi-font-family:&quot;Myriad Pro&quot;;color:#221E1F">Interview</span></strong></p>
<p class="MsoNormal">
	<strong>&nbsp;</strong><span style="font-size:10.0pt;
mso-bidi-font-family:&quot;Myriad Pro&quot;;color:#221E1F">Some of the practices used by various organizations during interviews are a comparison between responses of the questions before normal situation and during stressed situation. It gives a good view of the candidate’s stress management capacity as strange questions are asked to candidates just to evaluate problem handling skills.</span> </p>
<p class="Pa10" style="text-align:justify">
	<span style="font-size:10.0pt;
mso-bidi-font-family:&quot;Myriad Pro&quot;;color:#221E1F">The HR department and the selection team should understand the interest of candidates and focus on the skills, capacities and passion of the candidates in order to select the right candidates for the organization. It is found that a candidate’s interest is of big importance and most of the time, interested and less experienced candidates outperform experienced but less interested candidates.</span></p>
<p class="MsoNormal">
	&nbsp;</p>
<p class="Default">
	<strong><span style="font-size:11.5pt;
mso-bidi-font-family:&quot;Myriad Pro&quot;;color:#221E1F">Challenges</span> </strong><br />
	 </p>
<p class="MsoNormal">
	<span style="font-size:10.0pt;
mso-bidi-font-family:&quot;Myriad Pro&quot;;color:#221E1F">There are external factors such as union, pressure from external parties, ready-made CVs and cover letters found abundantly on the internet that has high impact in screening and selecting the right candidates. Similarly, lack of seriousness in implementing set HR policies and procedures are also a major challenge. Moreover, it is found that job applicants randomly apply for positions without understanding the required skills, knowledge and abilities. As a result, organizations end up lacking quality applicants.</span> </p>
<p class="Pa10" style="text-align:justify">
	<span style="font-size:10.0pt;
mso-bidi-font-family:&quot;Myriad Pro&quot;;color:#221E1F">Knowledge, skills, aptitudes, interest, body language and attitudes are major factors which determine in selecting right candidates. HR professionals should possess a skill for blending above mentioned factors in order to recruit right candidates who can consistently contribute in strengthening an organization. </span></p>
<p class="MsoNormal">
	 </p>
<p class="MsoNormal">
	<strong>&nbsp;</strong></p>
<p class="MsoNormal">
	<strong>&nbsp;</strong></p>
<p class="MsoNormal">
	<strong><span style="font-size:8.0pt;line-height:115%;mso-bidi-font-family:
&quot;Myriad Pro&quot;;color:#221E1F">The above write-up by Purna Man Shakya is based on an ‘HR Kurakani’ discussion on the topic “Ways to screen and select the right candidates” held at Nepal Derivate Exchange Ltd on July 25, 2012. The participants at the discussion included representatives from INGOs, trading company, commercial banks, travel company, IT company, consulting firms and hospitality industry. Shailendra Raj Giri, MD of Real Solutions, acted as the moderator of the discussion while Nibha Shakya, HR Executive of the company, was the coordinator of the program.</span></strong></p>
<p class="MsoNormal">
	 </p>
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	<strong><span style="font-size:8.0pt;line-height:115%;mso-bidi-font-family:
&quot;Myriad Pro&quot;;color:#221E1F">&nbsp;</span></strong></p>
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	<span class="A16"><span myriad="" style="font-size:11.5pt;line-height:
115%;font-family:">MANAGEMENT</span></span></p>
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	<span class="A2"><span mso-bidi-font-family:="" myriad="" style="font-family:">By Nobuhiro Tsuboi</span></span></p>
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	<span class="A2"><span mso-bidi-font-family:="" myriad="" style="font-family:">&nbsp;</span></span></p>
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	<span myriad="" style="font-size:32.0pt;line-height:115%;mso-bidi-font-family:
">Microfinance in the Context of Rural Nepal</span></p>
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	<span class="A35"><span myriad="" style="font-size:15.0pt;line-height:
115%;font-family:">It is said that the involvement in a microfinance programme has enabled to increase their savings.</span></span></p>
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	<span class="A35"><span myriad="" style="font-size:15.0pt;line-height:
115%;font-family:"><span myriad="" style="font-size:15.0pt;mso-bidi-font-family:">“We are planning to open around three new showrooms in the near future. Through these showrooms, the company targets to reach every district and the remote villages too.” </span></span></span></p>
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	<span class="A35"><span myriad="" style="font-size:15.0pt;line-height:
115%;font-family:">&nbsp;<img alt="depaak kumar purkot" border="1" height="189" hspace="10" src="http://www.newbusinessage.com/ckfinder/userfiles/Images/DEEPAL-KUMAR-PURKOTI.jpg" vspace="10" width="152" /></span></span></p>
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	<span class="A35"><span myriad="" style="font-size:15.0pt;line-height:
115%;font-family:"><strong><span class="A5"><span style="font-size:10.0pt">DEEPAL KUMAR PURKOTI <br />
	Sales and Marketing Manager </span></span></strong><br />
	<strong><span class="A5"><span myriad="" style="font-size:10.0pt;line-height:
115%;font-family:">Fair Trade Pvt Ltd<br />
	</span></span></strong><br />
	</span></span></p>
<p class="Pa10" style="text-align:justify;text-indent:14.0pt">
	<span class="A13"><span style="font-size:
59.0pt">I</span></span><span myriad="" style="font-size:10.0pt;mso-bidi-font-family:">n rural Nepal, microfinance has more than 20 years’ history with Cooperative Act 1992 and people’s expectation to reduce rural poverty. It is said that the involvement in a microfinance programme has enabled to increase their savings.* This report introduced real achievement on the clients’ saving data deposited at SFCL Manahari in Makwanpur District.**</span></p>
<p class="Pa10" style="text-align:justify;text-indent:14.0pt">
	<strong><span myriad="" style="font-size:11.5pt;
mso-bidi-font-family:"><br />
	<img alt="financial" border="1" height="811" hspace="10" src="http://www.newbusinessage.com/ckfinder/userfiles/Images/financial(3).jpg" vspace="10" width="600" /><br />
	<br />
	Facts on the Ground</span><br />
	<br />
	</strong><span myriad="" style="font-size:10.0pt;mso-bidi-font-family:">First of all, I show the changes of 484, all continuous shareholder families’ financial assets for the period of July 2006-July 2011. Its growth ratio is 140.3 per cent as shown in Table 1. ‘Family financial assets’ consist of all financial assets deposited at the SFCL and belong to individual families i.e. shares, compulsory group savings, each voluntary individual savings and family members’ individual savings. ‘Continuous shareholder’ means those who were shareholders continuously at least from 2006 to 2011. Incidentally, the number of shareholders was 771 in 2006 and 1,155 in 2011, of which 484 shareholders have been continuous shareholders for the period. </span></p>
<p class="Pa10" style="text-align:justify;text-indent:14.0pt">
	<span myriad="" style="font-size:10.0pt;mso-bidi-font-family:">As the price index of 2011 is estimated as 155 for 2006=100, two groups of ‘65 per cent and more’ and ’55-65 per cent’ i.e. 79.3 per cent of continuous shareholders realized growth in real price terms. I watched the group of ‘65 per cent and more’ i.e. 75.6 per cent of the total increased their assets by 10 per cent and more in real price terms, and further from that, their average growth ratio is 308.2 per cent.</span><br />
	<br />
	<br />
	<strong><span myriad="" style="font-size:11.5pt;
mso-bidi-font-family:">Investment by their Own Assets</span><br />
	<br />
	</strong><span myriad="" style="font-size:10.0pt;mso-bidi-font-family:">In spite of neglecting investment by their own financial assets for this period, 3/4th of the total continuous shareholders realized 10 per cent and more growth in real price terms. If we consider their investments by using their own financial assets, the situation of the changes will be different. Especially, as to the ‘Less than 0 per cent’ group with 40 shareholders, their average amount of initial assets was biggest of all groups and they would have enough chance to invest. Their negative growth seems to be partially because of these investments.</span><span myriad="" style="font-size:11.5pt;
mso-bidi-font-family:"><br />
	<br />
	<br />
	</span><strong><span myriad="" style="font-size:11.5pt;
mso-bidi-font-family:">Improvement in Distribution of Assets</span><br />
	<br />
	</strong><span myriad="" style="font-size:10.0pt;mso-bidi-font-family:">The distribution of assets improved significantly as shown in Table 2 and Figure 1. I classified all the 484 continuous shareholders into three classes: the Top of 10 per cent of the total (48 shareholders), the Middle of 30 per cent (144) and the Low of 60 per cent (292). The class of ‘Top’ consists of members having largest financial assets among all. The assets accumulation of ‘Top’ decreased from 42.5 per cent in 2006 to 37.1 per cent in 2011. On the contrary, assets accumulation of ‘Low’ increased from 20.2 per cent to 27.5 per cent. </span></p>
<p class="Pa10" style="text-align:justify;text-indent:14.0pt">
	<span myriad="" style="font-size:10.0pt;mso-bidi-font-family:">I confirmed the improvement of assets accumulation by Gini coefficient as shown in Figure 1. It improved by 0.104 point from 0.576 in 2006 to 0.472 in 2011. From the view of asset equity, the above change is desirable. </span></p>
<p class="MsoNormal">
	&nbsp;<img alt="shraeholder" border="1" height="328" hspace="10" src="http://www.newbusinessage.com/ckfinder/userfiles/Images/shareholder.jpg" vspace="10" width="295" /></p>
<p class="MsoNormal">
	 </p>
<p class="Default">
	<strong><span myriad="" style="font-size:11.5pt;
mso-bidi-font-family:">Character of the study</span> </strong><br />
	 </p>
<p class="MsoNormal">
	<span myriad="" style="font-size:10.0pt;mso-bidi-font-family:">This study has the following three characteristics: Analysis of the change in financial assets belonging to individual families for five years from 2006 to 2011, Analysis using SFCL share and saving data, and Abstract of 484 ‘continuous families’ from among all shareholders.</span></p>
<p class="Pa10" style="text-align:justify;text-indent:14.0pt">
	<span myriad="" style="font-size:10.0pt;mso-bidi-font-family:">I analyzed continuous shareholders because there are big differences in amount of assets among shareholders with different passage years as shareholders of SFCL as shown in Table 3. It means that we had to exclude new beneficiaries whose involvement years are relatively shorter. In this study, I excluded shareholders with less than five years passage. </span></p>
<p class="MsoNormal">
	 </p>
<p class="Pa10" style="text-align:justify;text-indent:14.0pt">
	<span myriad="" style="font-size:10.0pt;mso-bidi-font-family:">(This survey was conducted with the cooperation of Nepal National Agricultural Cooperative Central Federation Ltd and JICA Nepal Office in February-July 2012.)</span><br />
	<br />
	<span myriad="" style="font-size:11.5pt;
mso-bidi-font-family:">Further Subjects</span><br />
	<br />
	<span myriad="" style="font-size:10.0pt;mso-bidi-font-family:">I cannot say whether we can observe same trends in the achievement of other SFCLs and rural microfinance institutions. I hope this kind of study will be conducted in the future as well and at least 2-3 institutions in each microfinance group. </span></p>
<p class="MsoNormal">
	 </p>
<p class="MsoNormal">
	<strong>&nbsp;</strong></p>
<p class="MsoNormal">
	<strong><span myriad="" style="font-size:8.0pt;line-height:115%;mso-bidi-font-family:
">Tsuboi is a Retired Professor of University of Tsukuba, Japan. He can be reached via email at <a href="mailto:tsuboin43@nifty.com">tsuboin43@nifty.com</a>.</span></strong></p>
<p class="MsoNormal">
	 </p>
<p class="MsoNormal">
	<strong><span myriad="" style="font-size:8.0pt;line-height:115%;mso-bidi-font-family:
">&nbsp;</span></strong></p>
<p class="Pa15" style="margin-top:5.0pt">
	<strong><span myriad="" style="font-size:11.5pt;
mso-bidi-font-family:">References: </span></strong></p>
<p class="Pa32" style="margin-left:14.0pt;text-align:justify;text-indent:-14.0pt">
	<strong><span myriad="" style="font-size:10.0pt;mso-bidi-font-family:">* Nara Hari Dhakal, “Impact of Microfinance Services on Poverty Reduction in Nepal”, INAFI, SAP-Nepal, 2005, p.46. </span></strong></p>
<p class="Default">
	<strong>&nbsp;</strong></p>
<p class="MsoNormal">
	<strong><span myriad="" style="font-size:10.0pt;line-height:115%;mso-bidi-font-family:
">** SFCL: Small farmer agricultural cooperative ltd. SFCL Manahari has a history of ‘small famer development </span></strong></p>
<p class="MsoNormal">
	<strong><span myriad="" style="font-size:10.0pt;line-height:115%;mso-bidi-font-family:
">programme’ of ADB/N in 1980, and it was converted to SFCL in 1998. The number of shareholders is 1,155 at July 2011.</span></strong></p>
<p class="MsoNormal">
	<strong><span myriad="" style="font-size:10.0pt;line-height:115%;mso-bidi-font-family:
">&nbsp;</span></strong></p>
<p class="MsoNormal">
	<span myriad="" style="font-size:10.0pt;line-height:115%;mso-bidi-font-family:
">&nbsp;<br />
	</span></p>
<p class="MsoNormal">
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<p class="MsoNormal">
	<span mso-bidi-font-family:="" myriad="" style="font-size:24.0pt;mso-bidi-font-size:11.0pt;
line-height:115%;font-family:">‘We have been Able to Address the Problems Faced by Nepali Traders’</span></p>
<p class="MsoNormal">
	<span mso-bidi-font-family:="" myriad="" style="font-size:24.0pt;mso-bidi-font-size:11.0pt;
line-height:115%;font-family:">&nbsp;<img alt="viraj" border="1" height="449" hspace="10" src="http://www.newbusinessage.com/ckfinder/userfiles/Images/Viraj-Rai.jpg" vspace="10" width="300" /></span></p>
<p class="Pa1">
	<span class="A24"><span style="font-size:14.0pt">Viraj Rai </span></span><span class="A24"><span style="font-size:14.0pt;color:#221E1F">is the Line Manager of TLPL Shipping &amp; Logistics Pvt Ltd. </span></span></p>
<p class="MsoNormal">
	 </p>
<p class="MsoNormal">
	<span myriad="" style="font-size:11.5pt;line-height:115%;mso-bidi-font-family:
">The company is a member of Transworld Group that has interests in wide ranging areas from shipping, ship owning, ship management, agency business and forwarding to logistics and supply chain management. To ease the export/ import business into Nepal, the company is expanding its business in Nepal by offering Thru B/L service thereby transforming the ICD of Birgunj either into a truly functional hinterland dry port of loading to ICD or into a Dry Port. Rai was in Kathmandu to participate in a trade meet organized by Nepal Foreign Trade Association. In an interview with New Business Age, Rai has emphasized on the need of transport facilities for the importers operating international trade in Nepal. Excerpts:</span></p>
<p class="MsoNormal">
	 </p>
<p class="Pa23" style="margin-top:5.0pt">
	<strong><span myriad="" style="font-size:11.5pt;line-height:115%;mso-bidi-font-family:
">&nbsp;</span><span myriad="" style="font-size:10.0pt;
mso-bidi-font-family:">Could you please highlight the reason for your visit? </span></strong></p>
<p>
	<span myriad="" style="font-size:10.0pt;
mso-bidi-font-family:">The reason for visiting Nepal this time has been to organize the trade meet, a long-term demand of the Nepal trade. So, we are promoting it through BL service, whereby importers in Nepal can greatly scan by availing our single window point-to-point total logistic solution. It will facilitate picking up the cargo from the port of origin or from the factory of the supplier and move it up to ICD Birgunj and issue them one single multimodal document BL for their entire service. As a result, they end up saving huge amount of cost. In normal convention system right now, they pay for detentions or delays from Kolkata port right up to ICD Birgunj. Moreover, we take care of that by providing that service and giving delivery to them in Birgunj and any delay in between is not a cost for them as we cover that risk in our service.</span><span myriad="" style="font-size:10.0pt;
mso-bidi-font-family:"><br />
	<br />
	The whole purpose of our visit was to promote our services especially in Kathmandu. We have started this service more than a year ago. Earlier, it was introduced in Birgunj under the Birgunj Chamber of Commerce, and we wanted to fine tune and improve it further. Therefore, we have been learning, fine-tuning, and improving ourselves during this period. We have felt in recent times that we are ready to take this to the next level. That is why we felt the need to organize this trade meet and address the entire trade in Kathmandu </span></p>
<p class="MsoNormal">
	 </p>
<p class="MsoNormal">
	<strong>&nbsp;</strong></p>
<p class="Pa23" style="margin-top:5.0pt">
	<strong><span myriad="" style="font-size:10.0pt;
mso-bidi-font-family:">What types of problems are the Nepalis importers facing while bringing goods from different ports through ICD Birgunj? </span></strong></p>
<p class="Pa10">
	<span myriad="" style="font-size:10.0pt;mso-bidi-font-family:">Since Nepal is a landlocked country, it is wholly dependent on nearby Kolkata ports. There are many problems put forward by Nepali importers while bringing goods from different ports. To begin with, they do not have control over the shipment period or the time and the container in sea. However, once it reaches the land, there is still uncertainty because there may be some delays at the Kolkata port in loading the container or delays in the train itself. Throughout this entire process, they have to depend on outside agencies for information flow and updates. Currently, they have to depend on shipping land to know the status when the container would reach Kolkata. They need to depend on the forwarder or the CHA to know when the container would be cleared at Kolkata port. Then they need to know when it would be loaded on wreck after which they need to follow up to know when the ship will reach Birgunj. In our service, we do away with all this. We give a single window solution and all the information flow is provided locally here at Birgunj. Therefore, this is a big solution to one of the biggest problems that Nepali trade is facing. </span></p>
<p>
	<span myriad="" style="font-size:10.0pt;
mso-bidi-font-family:">At the same time, because we are covering TLPL up to Birgunj, we have seen most of them paying huge amount of detention cost in the current conventional system. Due to this, crores of rupees is being paid to Indian shipping agents for the time taken for the containers to come from Kolkata and to go back which is normally much beyond the free time given by shipping lines. So, in our case, we cover that risk by providing service up to Birgunj so that there is further cost saving to the trade. These are two of the major problems being faced by the Nepali traders and we have been able to address it. At our level, we cannot address other problems that have been faced by the traders. It has to be done in accordance with India- Nepal treaties. However, the problems that we are addressing are within our control as it is based around shipping and land logistics. </span></p>
<p class="MsoNormal">
	 </p>
<p class="Pa23" style="margin-top:5.0pt">
	<strong><span myriad="" style="font-size:10.0pt;
mso-bidi-font-family:">What were the queries from the importers during the trade meet? </span></strong></p>
<p>
	<span myriad="" style="font-size:10.0pt;
mso-bidi-font-family:">At the end of it, everybody is looking at the bottom line. Therefore, they look at ways to reduce the cost. The feedback we received from the audience is that sometimes the Kolkata port is congested. The next concern was how fast the container can be loaded for Birgunj. In the present scenario, it is not possible to give a guaranteed time. Then there is addressing of issues on a larger scale from government-to-government through transit treaty or rail service agreement between the two nations. </span> <br />
	<strong>&nbsp;</strong></p>
<p class="Pa23" style="margin-top:5.0pt">
	<strong>&nbsp;<span myriad="" style="font-size:10.0pt;
mso-bidi-font-family:">How are you going to address the problems faced by the importers and exporters?</span></strong></p>
<p class="MsoNormal">
	<strong>&nbsp;</strong><span myriad="" style="font-size:10.0pt;
mso-bidi-font-family:">One is the timely flow of information. There are also times when the traders find our rates little high so they give their business to the traditional forwarders. However, they are still in touch with us to try to get information that possibly they are not getting as accurately from their existing forwarders. Therefore, we do get calls regularly from importers in Nepal asking us to cross check on information. In the present scenario, they probably want to verify the information they are getting. In our service, the information flow will come from us directly and given to them in Nepal. They do not need to call at Kolkata as the entire single window solution will be given here in Nepal itself.<br />
	<br />
	The second one is the cost element that we see on an average. There is a huge amount of detention cost being paid because of delays between Kolkata and Birgunj and empty containers going back. In our service, the container is going to be allowed up to Birgunj after which we plan to give three days free time for local importers at Birgunj and five days for importers from Kathmandu and Pokhara. According to me, these are ample time frames for the importers to empty containers and send them back to Birgunj. Once they return the containers to Birgunj, their responsibility ends there. They have no detentions to worry about because it’s us who cover that cost element. This is a two-fold benefit and we will see how we can add further value to this entire service. Along the line, we would also look for cutting down on costs that are within our control.</span></p>
<p>
	<strong>&nbsp;</strong></p>
<p class="MsoNormal">
	<strong><span myriad="" style="font-size:10.0pt;
mso-bidi-font-family:">What are the weaknesses of Nepali exporters/importers while using your services?</span> <br />
	</strong></p>
<p class="MsoNormal">
	<span myriad="" style="font-size:10.0pt;mso-bidi-font-family:">Many traders import from China. There seems to be a miscommunication between the importer and supplier. Therefore, when we approach the supplier, we find it has not been properly informed that we are the nominated carriers. We see this mistake on flow of information to the suppliers a number of times. The other mistake is about error in documentation. There are times when the information provided to us is not accurate and we have to give back the documents to the importers. In addition, sometimes the documents sent for clearing the container at Kolkata are incomplete. These are small mistakes but they definitely lead to delays and increase the cost. Luckily, we have the provision in Indian customs to clear the cargo through copies of the documents so that it saves time while couriering the originals. With time, the number of mistakes has lowered as our customers are more aware now. With the new customers, we have to possibly educate them beforehand and see how they can avoid these mistakes.</span><strong><br />
	<br />
	</strong></p>
<p class="Pa23" style="margin-top:5.0pt">
	<strong><span myriad="" style="font-size:10.0pt;
mso-bidi-font-family:">In your opinion, how can Nepali traders become more competitive?</span></strong></p>
<p class="MsoNormal">
	<span myriad="" style="font-size:10.0pt;mso-bidi-font-family:">There is certainly a disadvantage being a landlocked country where you are dependent on ports. However, by utilizing our services, the traders would get advantage of cost which will make them competitive. In addition, if they focus on error free documentation and timely information flow, it will lead towards reduction of mistakes and eventually provide cost competitiveness to them. In today’s world when everything is online, I am sure that they can utilize the tools being offered by technology to bring down costs. We have seen in the past how Nepal has played its role in the export of garments and carpets. Therefore, there is an advantage of labor and craftsmanship somewhere along the line. If the traders can change their set mindset and accept the new technological services provided by us, it will definitely be beneficial for them.<br />
	<br />
	<br />
	</span></p>
<p class="MsoNormal">
	<strong><span myriad="" style="font-size:10.0pt;
mso-bidi-font-family:">The Nepali traders complain that they do not get information of their goods after they load it at the port to be sent to Nepal. What is your take on it?</span> <br />
	</strong></p>
<p class="MsoNormal">
	<span myriad="" style="font-size:10.0pt;mso-bidi-font-family:">Most of the customers who had the problem of not getting timely information are not particularly going by the system of traditional movement right now. This is where they have answered their own problem. We have assured them timely information and movement of the containers provided they give us the chance. Our service is the solution to their existing problems.</span></p>
<p class="MsoNormal">
	 </p>
<p class="Pa23" style="margin-top:5.0pt">
	<strong><span myriad="" style="font-size:10.0pt;
mso-bidi-font-family:">They also say that your service is a bit expensive and takes more time in comparison to other modes of transportations to Nepal. What do you say?</span></strong></p>
<p class="MsoNormal">
	<span myriad="" style="font-size:10.0pt;line-height:115%;mso-bidi-font-family:
">We have not seen any importers who have not paid detentions. In fact, most of them are paying it. They need to look at their cost and compare it. When we prepare quotations, most of the customers ask for cost breakup till Kolkata. This is not possible for us as we offer complete package solution. At the end of the day, we say that give us a chance to serve you. Our existing customers believed in us and subscriber to our idea. Moreover, those who started with us have stuck to us so far. We can always negotiate and come to an agreeable rate. Nevertheless, I can assure that in the long run, the cost benefit to the Nepali traders would be far more than what they think right now.</span></p>
<p class="MsoNormal">
	<span myriad="" style="font-size:10.0pt;line-height:115%;mso-bidi-font-family:
">&nbsp;<br />
	<br />
	<br />
	</span></p>
<p class="MsoNormal">
	<span mso-bidi-font-family:="" myriad="" style="font-size:24.0pt;mso-bidi-font-size:11.0pt;
line-height:115%;font-family:">‘A Restaurant is a Personality Driven Business’</span></p>
<p>
	<br />
	<img alt="harikarki" border="1" height="354" hspace="10" src="http://www.newbusinessage.com/ckfinder/userfiles/Images/Hari-Karki(1).jpg" vspace="10" width="257" /></p>
<p class="MsoNormal">
	<span class="A24"><span style="font-size:14.0pt">Hari Karki </span></span><span class="A24"><span style="font-size:14.0pt;color:#221E1F">is the owner of GURU, a Hong Kong based Indian Restaurant as well as a Spanish eatery. </span></span> <br />
	 </p>
<p class="MsoNormal">
	<span myriad="" style="font-size:11.5pt;line-height:115%;mso-bidi-font-family:
">He started his career as a trainee in Hotel Soaltee Oberoi in 1993. Besides Food &amp; Beverage business, he is involved with Universal Music Company. Karki, permanent resident of Hong Kong is also involved in a website business associated with Hong Kong Jockey Club (HKJC). The project is funded by HKJC and is worth 15 million Hong Kong dollars. In an interview with New Business Age, Karki divulged his plans for business expansion in Kathmandu in the near future. Excerpts:<br />
	</span></p>
<p class="MsoNormal">
	 </p>
<p class="MsoNormal">
	<strong><span myriad="" style="font-size:11.5pt;line-height:115%;mso-bidi-font-family:
">&nbsp;</span></strong></p>
<p class="Pa23" style="margin-top:5.0pt">
	<strong><span myriad="" style="font-size:10.0pt;
mso-bidi-font-family:">Would you like to kindly share some experiences regarding early days in your career?<br />
	</span></strong></p>
<p class="Pa10" style="text-indent:14.0pt">
	<span myriad="" style="font-size:10.0pt;
mso-bidi-font-family:">I started my hotel career as a trainee in Soaltee Oberoi in 1993 that lasted for nine months. Although the training was very basic, it was helpful for building the foundation of my career. After that, I joined Hotel Himalaya, which was a very important decision for my career. It provided me a strong base and I received support from many good colleagues there. That is where I learned the value of decision-making procedures. </span></p>
<p class="MsoNormal">
	<strong>&nbsp; <br />
	<span myriad="" style="font-size:10.0pt;
mso-bidi-font-family:">How was your experience working in the Food and Beverage industry abroad? <br />
	<br />
	</span></strong><span myriad="" style="font-size:10.0pt;
mso-bidi-font-family:">While working at Hotel Himalaya, I thought about pursuing higher studies. So, I went to Bahrain for management studies and afterwards, worked for a year there. Thereafter, I went to Hong Kong for holidays. That is how I landed in Hong Kong. In the meanwhile, I resigned from the Bahrain hotel I was working at. In Hong Kong, I started working at Curry Pot Restaurant as one of my friends was working there already. They were looking for manager at that time. The moment I landed there, I realized the tremendous potential that the restaurant had. I started working and within a few months, I brought about many changes within the restaurant. We were able to open three outlets of the restaurant soon. We also created a brand “Curry in a Hurry” fast food chain in Hong Kong. Later, I was given 25 per cent equity and there were 145 employees working under me.</span></p>
<p class="MsoNormal">
	<span myriad="" style="font-size:10.0pt;mso-bidi-font-family:">One important aspect of this industry is to make customers feel that we care for them and at the same time, not ready to compromise with high standards. You need to improvise on the quality of food, service, and everything else. Hong Kong is a very competitive city and there are unique ideas and people everywhere. You need to compete with them in order to capture the market.</span></p>
<p class="MsoNormal">
	<strong>&nbsp;</strong></p>
<p class="Pa23" style="margin-top:5.0pt">
	<strong><span myriad="" style="font-size:10.0pt;
mso-bidi-font-family:">Are you involved in any other business currently apart from Food and Beverages business?</span></strong></p>
<p class="MsoNormal">
	<span myriad="" style="font-size:10.0pt;line-height:115%;mso-bidi-font-family:
">Besides Food and Beverage business, I am involved with Universal Music Company. We are involved in website business associated with Hong Kong Jockey Club (HKJC). The project is funded by HKJC and is a 10 million Hong Kong dollar project with additional five million for marketing. This makes the project worth a total of Rs 15 million Hong Kong dollars. The reason for setting this website is for lottery, horse racing, football gambling etc. Since HKJC cannot directly promote gambling, they create lifestyle websites called as Fasttrack.hk to encourage youths towards such activities. It is the Asian perspective of entertainment and we promote it as an essence of lifestyle. We update our subscribers with new information regarding fashion, music, politics etc. <br />
	</span></p>
<p class="MsoNormal">
	&nbsp;Currently, I am planning to expand the Food and Beverage business. I am also working on a Brazilian concept outlet. I think this is a good idea as Brazil is hosting the 2014 Football World Cup. At that time, the craze for Brazil will be higher therefore, we are working on that aspect. I am also looking forward to invest in Kathmandu so I am trying to find right partners here to start unique ventures.</p>
<p class="MsoNormal">
	<strong><strong>&nbsp;</strong></strong></p>
<p class="Pa23" style="margin-top:5.0pt">
	<strong><span myriad="" style="font-size:10.0pt;
mso-bidi-font-family:">What are the new trends, besides food, to run restaurants successfully in today‘s age?</span></strong></p>
<p class="MsoNormal">
	<span myriad="" style="font-size:10.0pt;
mso-bidi-font-family:">I think the new trend is the people who run such businesses. Besides food, interior plays a vital role and adds soul to restaurants. It is a personality driven business. It could be the personality of the manager, waiters, or the restaurant itself. If you could put the soul of your staffs to provide service to your customers, they matter more than the expensive furniture, wines, or any other aspect of the restaurants.</span></p>
<p class="Pa10" style="text-indent:14.0pt">
	<span myriad="" style="font-size:10.0pt;
mso-bidi-font-family:">Therefore, gone are the days when the hotel employees treated the customers with mere words. These days, there is a new trend in Hong Kong where the customers and the employees of restaurants or hotels treat each other as friends. </span></p>
<p class="Pa10" style="text-indent:14.0pt">
	&nbsp;<br />
	<strong><span myriad="" style="font-size:10.0pt;
mso-bidi-font-family:">Would you like to explain about the potential cutleries that are to be used in restaurants?</span><br />
	<br />
	</strong><span myriad="" style="font-size:10.0pt;
mso-bidi-font-family:">Everybody wants to be updated these days. When anything comes to your table, it is very essential to work on details. You want to use contemporary utensils to catch up with the changing desires of the customers. Having said so, I would like to add that the look of the equipments and the cutleries should match with the theme of the restaurant. If you are running a modern restaurant, you cannot afford to place old cutleries there. Therefore, you need to update accordingly. </span></p>
<p class="MsoNormal">
	&nbsp;<strong> <br />
	</strong></p>
<p class="Pa23" style="margin-top:5.0pt">
	<strong><span myriad="" style="font-size:10.0pt;
mso-bidi-font-family:">What are the areas that Nepali hoteliers should improve upon?</span></strong></p>
<p class="MsoNormal">
	<span myriad="" style="font-size:10.0pt;
mso-bidi-font-family:">I came here a couple of years ago. The sad thing is that when I went to the same place, I found that the menu had not changed. The good part was that the people working there were the same. However, it was clear that they were not being able to keep pace with the trend. The question is not only about wanting to upgrade but whether the entrepreneurs are actually doing it in practice. However, at the end of the day, it’s the customers who decide about the change.</span></p>
<p class="MsoNormal">
	<span myriad="" style="font-size:10.0pt;
mso-bidi-font-family:">Customers visit the restaurants and hotels to feel the difference. However, if they get the same boring treatment through the services of hotels and restaurants, they would not enjoy it. Therefore, in this particular business, the first thing is to upgrade our services in a similar manner we upgrade our life itself.</span></p>
<p class="MsoNormal">
	<strong><strong>&nbsp;</strong></strong></p>
<p class="Pa23" style="margin-top:5.0pt">
	<strong><span myriad="" style="font-size:10.0pt;
mso-bidi-font-family:">It is said that the services of the five star hotels here in Nepal is equivalent to the services of three star hotels abroad. What is your comment on this comparison?</span></strong></p>
<p class="MsoNormal">
	<span myriad="" style="font-size:10.0pt;mso-bidi-font-family:">Well, I do not think that the comparison is fair. The categorization of hotels or restaurants depends on the kind of service you provide to your customers. For instance, there are many ways of providing service to your customers. Serving is an art in itself which sets you apart from others. It is an important aspect that every restaurants and hotels should understand while providing services to their clients.</span></p>
<p class="MsoNormal">
	 </p>
<p class="Pa23" style="margin-top:5.0pt">
	<strong><span myriad="" style="font-size:10.0pt;
mso-bidi-font-family:">What improvements should the service provider bring to achieve perfection in services provided to the clients? </span></strong></p>
<p class="MsoNormal">
	<strong>&nbsp;</strong><span myriad="" style="font-size:10.0pt;mso-bidi-font-family:">I think, to begin with, the trainer should get the proper training themselves. Then only, they will be able to train their staffs accordingly. When you do not update yourself, you will not come to know about new trends in the business. These days, customers seldom complain about your service. They simply stop coming to your place. If your customers complain about your services, you must take it positively and think of these customers as your well-wishers. People do not have the time to point out your weaknesses all the time so it is your responsibility to upgrade your service in accordance with the present time. Tell us something about your restaurant and the investment figures involved.</span></p>
<p class="Pa10">
	<span myriad="" style="font-size:10.0pt;mso-bidi-font-family:">The theme of my restaurant is simple and it is unique that in a very short period of time, the restaurant has created a brand of its own. There has been a breakthrough in Indian cuisine and you can find good reviews and comments about my restaurants on my website. It has been almost three-and-a-half years now. The investment in the restaurant is 2.5 million Hong Kong dollars while the annual turnover is around 4.2 million Hong Kong dollars. With an area of 1500 square feet, the seating capacity of the restaurant is 175 people. <br />
	<br />
	</span></p>
<p class="MsoNormal">
	<strong><span myriad="" style="font-size:10.0pt;
mso-bidi-font-family:">When you travel around the world, you can see many Indian restaurants, however, there are very few Nepali restaurants abroad. Is it because we lack varieties to offer in terms of our cuisine?&nbsp;&nbsp;&nbsp; </span></strong></p>
<p class="MsoNormal">
	<span myriad="" style="font-size:10.0pt;mso-bidi-font-family:">I do not agree with this observation of yours. In my opinion, you have to study the market before you start any business. For instance, if you target only Indian customers at Indian restaurants, you will fail. You have to think holistically. In Hong Kong also, Nepalis have great scope everywhere as the people of Hong Kong have tremendous respect for Nepalis. I also serve some Nepali delicacies at my restaurants. We have enough scope to serve Nepali delicacies to the customers in Hong Kong.</span>&nbsp; <br />
	 </p>
<p class="MsoNormal">
	<strong><span myriad="" style="font-size:10.0pt;
mso-bidi-font-family:">How are Nepali businesspersons doing in Hong Kong?</span> <br />
	</strong></p>
<p class="Pa10">
	<span myriad="" style="font-size:10.0pt;mso-bidi-font-family:">The involvement of Nepalis in Food and Beverage business is remarkable. They have left even the westerners behind, in this respect. Let me give you one example. Few months ago, two young Nepali men opened two new outlets called Escape and China Bar with an investment of 16 million Hong Kong dollars. They are doing fabulous business In terms of other businesses, Nepalis are involved in import/export, construction, travel agency etc. I must say they are doing well for themselves in Hong Kong. </span></p>
<p class="MsoNormal">
	 </p>
<p class="Pa23" style="margin-top:5.0pt">
	<strong><span myriad="" style="font-size:10.0pt;
mso-bidi-font-family:">Are you associated with the NRN Association? Are there any NRN businesspersons who are doing business here? </span></strong></p>
<p class="MsoNormal">
	<span myriad="" style="font-size:10.0pt;line-height:115%;mso-bidi-font-family:
">I am a member of the association, however, I am not actively involved in it. As an idea, it is good. However, I do not see where they are heading. It all depends on who is leading the association. There are many NRNs doing business here. Some are involved in banking, travel agencies, trading, and others. I think that everyone has to work on their strong aspect, start from scratch and then dream big. If I have to start a business here, I will have to learn the basics about the market. That is the reason why I am looking forward to appropriate partners here in Nepal. I would need at least six months to study the market locally.</span></p>
<p class="MsoNormal">
	<span myriad="" style="font-size:10.0pt;line-height:115%;mso-bidi-font-family:
">&nbsp;</span></p>
<p class="MsoNormal">
	<span myriad="" style="font-size:10.0pt;line-height:115%;mso-bidi-font-family:
">&nbsp;</span></p>
<p class="MsoNormal">
	<span mso-bidi-font-family:="" myriad="" style="font-size:24.0pt;mso-bidi-font-size:11.0pt;
line-height:115%;font-family:">‘We See a Huge Yet-to-be-Tapped Market for BUSY in Nepal’</span></p>
<p class="MsoNormal">
	<span mso-bidi-font-family:="" myriad="" style="font-size:24.0pt;mso-bidi-font-size:11.0pt;
line-height:115%;font-family:">&nbsp;<br />
	<img alt="pankaj" border="1" height="408" hspace="10" src="http://www.newbusinessage.com/ckfinder/userfiles/Images/Pankaj-Kumar-Roy.jpg" vspace="10" width="331" /><br />
	</span></p>
<p class="MsoNormal">
	<span class="A24"><span style="font-size:14.0pt">Pankaj Kumar Roy </span></span><span myriad="" style="font-size:11.5pt;line-height:115%;mso-bidi-font-family:
"><span style="font-size:14.0pt;color:#221E1F">is Business Development Manager at Busy Accounting Software, one of the popular accounting and inventory management software for MSMEs in India.&nbsp; </span></span><br />
	<span myriad="" style="font-size:11.5pt;line-height:115%;mso-bidi-font-family:
">&nbsp;</span></p>
<p class="MsoNormal">
	<span myriad="" style="font-size:11.5pt;line-height:115%;mso-bidi-font-family:
">The company has currently over half-a-million users in over 20 countries. BUSY 12 is the software that the company has introduced lately. Roy visited Kathmandu recently for the expansion of his software business in Nepal. In an interview with New Business Age, he talked about the importance of accounting software in Nepal’s business sector. Excerpts:</span></p>
<p class="MsoNormal">
	<strong><strong>&nbsp;</strong></strong></p>
<p class="Pa23" style="margin-top:5.0pt">
	<strong><span myriad="" style="font-size:10.0pt;
mso-bidi-font-family:">What is the purpose of your visit to Nepal this time?</span></strong></p>
<p class="MsoNormal">
	<span myriad="" style="font-size:10.0pt;
mso-bidi-font-family:">This time, we came here for the promotion of our new software BUSY 12. We are providing technical support to busy users as well as providing training to channel partners on BUSY 12 – our latest version for BUSY range of accounting software.</span></p>
<p class="MsoNormal">
	<strong><span myriad="" style="font-size:10.0pt;
mso-bidi-font-family:"><br />
	What are the major features of your software products?</span><br />
	<br />
	</strong><span myriad="" style="font-size:10.0pt;
mso-bidi-font-family:">BUSY is an accounting and inventory management software. The salient features of BUSY are: Financial Accounting, Inventory Management, Statutory Reports, Invoicing, Production, Bill of Material, Multi- Location management, checks and controls, MIS and many more.</span></p>
<p class="MsoNormal">
	<strong><strong>&nbsp;</strong></strong></p>
<p class="Pa23" style="margin-top:5.0pt">
	<strong><span myriad="" style="font-size:10.0pt;
mso-bidi-font-family:">Please tell us something about your software BUSY 12. Who are the target groups for this product?</span></strong></p>
<p class="MsoNormal">
	<span myriad="" style="font-size:10.0pt;
mso-bidi-font-family:">BUSY 12 is an accounting and inventory software with a host of new features and enhanced functionalities including sales/purchase quotation, customizable reports, data access through SMS/e-mail, auto back-up of data and provision for voucher audit etc. It’s an ERP for SMEs which allows businesses to manage their accounting, inventory, invoicing, and statutory requirements. It also offers a feature that would help the user in securing their data against theft and misuse, thus maintaining a better control mechanism. It also enables users in preparing sales or purchase quotation. All businesses which require software to manage their business are our target customers. Hence, all SMEs and in fact the corporate houses also, can benefit from BUSY 12.</span></p>
<p class="MsoNormal">
	<strong><strong>&nbsp;</strong></strong></p>
<p class="MsoNormal">
	<strong><span myriad="" style="font-size:10.0pt;
mso-bidi-font-family:">How are you promoting your business in Nepal?</span> <br />
	</strong></p>
<p class="Pa10">
	<span myriad="" style="font-size:10.0pt;mso-bidi-font-family:">We sell our software through the channel partners in Nepal. Currently, we have three channel partners in Kathmandu and multiple resellers working for these channel partners. As an organization, we put big emphasis on customer satisfaction so we plan regular visits to our customers to resolve their issues. We regularly participate in leading exhibitions in Nepal and organize seminars and workshops also. Moreover, we take regular feedback from our partners and customers to incorporate features specific to businesses requirements in Nepal.</span></p>
<p class="MsoNormal">
	<strong><strong>&nbsp;</strong></strong></p>
<p class="Pa23" style="margin-top:5.0pt">
	<strong><span myriad="" style="font-size:10.0pt;
mso-bidi-font-family:">What are your plans to attract more number of people using your services?</span></strong></p>
<p class="Pa10">
	<span myriad="" style="font-size:10.0pt;mso-bidi-font-family:">As I mentioned earlier, customer satisfaction is our motto. We believe in a theory that ‘one happy customer refers you to ten more,’ so we are striving hard to make our customer feel happiest which we believe will boost our business. We have plans to organize meetings, workshops and seminars regularly to train and educate people on BUSY. Moreover, we would be participating in leading exhibitions and advertising in leading newspapers too. </span></p>
<p class="MsoNormal">
	 </p>
<p class="Pa23" style="margin-top:5.0pt">
	<strong><span myriad="" style="font-size:10.0pt;
mso-bidi-font-family:">How can Nepali Industries benefit from your products?</span></strong></p>
<p class="Pa10">
	<span myriad="" style="font-size:10.0pt;mso-bidi-font-family:">We have so many excellent features in BUSY which simplify the businesses of Nepali SMEs. For example, we provide Nepal VAT reports, Nepali date, computerised billing, checks and controls, multi-branch management etc including other features which have been beneficial for Nepali businesses. </span></p>
<p class="MsoNormal">
	<br />
	&nbsp;<strong><span myriad="" style="font-size:10.0pt;
mso-bidi-font-family:">What is your assessment of the market demand for your software?</span> <br />
	</strong></p>
<p class="MsoNormal">
	<span myriad="" style="font-size:10.0pt;line-height:115%;mso-bidi-font-family:
">We see a huge yet-to-be-tapped market for BUSY in Nepal. Our software caters to almost every industry – retailers, traders, distributors, discreet manufacturers and corporate entities. However, most of the businesses here are either not using any software or are using out-dated software to manage their accounting and inventory needs. Therefore, we feel that we are in the right position to capture a big market share in the next two to five years.</span></p>
<p class="MsoNormal">
	<span myriad="" style="font-size:10.0pt;line-height:115%;mso-bidi-font-family:
">&nbsp;</span></p>
<p class="MsoNormal">
	<span myriad="" style="font-size:10.0pt;line-height:115%;mso-bidi-font-family:
">&nbsp;</span></p>
<p class="MsoNormal">
	<span myriad="" style="font-size:10.0pt;line-height:115%;mso-bidi-font-family:
">&nbsp;</span></p>
<p class="MsoNormal">
	<span mso-bidi-font-family:="" myriad="" style="font-size:24.0pt;mso-bidi-font-size:11.0pt;
line-height:115%;font-family:">‘We Help Nepali Counterparts to meet IT Product Needs’<br />
	<br />
	</span></p>
<p class="MsoNormal">
	<span mso-bidi-font-family:="" myriad="" style="font-size:24.0pt;mso-bidi-font-size:11.0pt;
line-height:115%;font-family:">&nbsp;<img alt="alexandar" border="1" height="385" hspace="10" src="http://www.newbusinessage.com/ckfinder/userfiles/Images/Alexander-Oddoz-Mazet.jpg" vspace="10" width="263" /><br />
	</span></p>
<p class="Pa1">
	<span class="A24"><span style="font-size:14.0pt">Alexander Oddoz-Mazet </span></span><span class="A24"><span style="font-size:14.0pt;
color:#221E1F">is the Director – Asia Pacific Region of Microsoft Operations Pte Ltd. </span></span></p>
<p class="MsoNormal">
	 </p>
<p class="MsoNormal">
	&nbsp;<span myriad="" style="font-size:11.5pt;line-height:115%;mso-bidi-font-family:
">Founded in 1975, Microsoft is the worldwide leader in software, services and solutions that help people and business realize their full potential. Through its regional office in Bangladesh, it has been marketing and promoting Microsoft products and solutions in territories of Bangladesh, Nepal and Bhutan. Microsoft has been present in Nepal since 2007. Oddoz-Mazet was in Kathmandu to attend a business event titled “Maximizing Business Productivity – Leveraging Microsoft Technologies”. In an interview with New Business Age, he talked about Microsoft’s business productivity solutions among other issue. Excerpts:</span></p>
<p class="MsoNormal">
	<strong><span myriad="" style="font-size:11.5pt;line-height:115%;mso-bidi-font-family:
">&nbsp;</span></strong></p>
<p class="Pa23" style="margin-top:5.0pt">
	<strong><span myriad="" style="font-size:10.0pt;
mso-bidi-font-family:">With business productivity being high on most organizations’ priority list, what does Microsoft offer in specific to the Nepal market?</span></strong></p>
<p>
	<span myriad="" style="font-size:10.0pt;
mso-bidi-font-family:">We are developing a new scenario that helps people to work together as a team and as an organization. Communication is one of the key scenarios so people need to do it more effectively while collaboration is also one of the scenarios that we need to work at more effectively. At Microsoft, we now have a few technological solutions that can help to achieve that. One of them is Unified Communications which is a way to reduce complexity by putting people at the centre of the communications experience. The goal is to integrate all of the ways we contact each other in a single environment using a single identity and presence. It provides businesses in Nepal with the power to choose how they provision services whether on their own premises, as cloud services, or in a hybrid fashion. </span></p>
<p class="Pa10" style="text-indent:14.0pt">
	<strong><span myriad="" style="font-size:10.0pt;
mso-bidi-font-family:"><br />
	How significant is Unified Communications from Microsoft’s perspective?</span></strong><span myriad="" style="font-size:10.0pt;mso-bidi-font-family:"><br />
	<br />
	It is very important indeed. With Unified Communications, we bring instant messaging, web, email, calendar, SMS etc together into one platform which makes it very easy for information technology (IT) divisions at organizations to manage a lot of things and make them very cost effective. It is a one-stop solution to everything. For themes, it has one-user interface that enables organizations to perform all types of communication. It has made it easy to drive a new way for all activities, to use different tools. With the Unified Solution powered by Microsoft, the users are free from the hassle of using different access, passwords and methods to use it. We provide a new communication solution not only to connect internally but also to the outside world.<br />
	<br />
	Please share the key capabilities of these solutions that you have mentioned in your presentation In not only Nepal, but also in countries around South East Asia like Korea, Thailand, Vietnam, Cambodia, we found that people create word document, PowerPoint presentations, picture, videos and store them in their personal computers (PCs). This is not a very effective option. If we want to work as a team and want to access those documents, it is not possible if they are stored in the individual PCs only. With SharePoint, you build an internet site within your company where only the employees of your company and trusted partners can have access to the information. SharePoint is one of the fastest growing products in business because people realise that they need to share the documents and work together as a team. Therefore, having the documents in a central location, which is easily searchable and accessible to people, can work effectively. We see the government officials and businesspersons using SharePoint to a large extent.<br />
	<br />
	Sometimes, it takes a while for a new technology to develop inside an organization. However, when the professionals inside an organization get along with the technology over time, they can adopt it to manage overall technology on their own. The fundamental capability of the software is to make people more productive. It makes a country more competitive in the world market. In Nepal, most of the talent goes outside the country in search of better opportunities. Our technology, adopted by organizations, can keep the intelligent people within the country which, in turn, helps the economy. There are lot of functionalities but at the core, Microsoft software is helping economies prosper and become more competitive at the world stage. With the integrated value of SharePoint, Link, Exchange, and Office into one platform, it makes the employees and teams to use the software more effectively.</span>&nbsp; <strong><span myriad="" style="font-size:10.0pt;
mso-bidi-font-family:"><br />
	</span></strong></p>
<p class="Pa10" style="text-indent:14.0pt">
	<strong><span myriad="" style="font-size:10.0pt;
mso-bidi-font-family:"><br />
	What can companies do to understand Microsoft and business productivity solutions better?</span></strong><span myriad="" style="font-size:10.0pt;
mso-bidi-font-family:"><br />
	<br />
	One of the challenges we see is the people cannot properly understand what business productivity solutions can do for their business. In order to facilitate their understanding, we can show some works on PowerPoint presentation to them and also perform a demo if required. However, the best way to understand any product is to experience it. The analogy that I present many times to make my point is that you do not buy a car looking at its website. You take a decision by doing a test drive.</span><br />
	<br />
	<span myriad="" style="font-size:10.0pt;
mso-bidi-font-family:">Our partners have invested in a facility called “Customer Emersion Experience” in which we bring business people and IT professionals together. Once they enter our facility, we place laptops in front of them and make them test drive Microsoft Productivity business solutions for the next two-three hours. This is the best way to make people understand the value of our platform. We then drive a communication between the IT professionals and business people on ways to enable software in an organization and the value that the business can get. The other way is that we are talking with some of the companies to deploy our technology on a small scale, to begin with. However, the cost effective way is to utilize our “Customer Emersion Experience” scheme. </span></p>
<p class="Pa10" style="text-indent:14.0pt">
	<strong><span myriad="" style="font-size:10.0pt;
mso-bidi-font-family:">&nbsp;<br />
	What makes you believe you are better than the competition?</span></strong></p>
<p class="MsoNormal">
	<strong>&nbsp;</strong>We have a lot of competitors in the market and needless to say, all of them have very niche products. For Microsoft Unified Communications, we compete with people who deal with voice mail system, web conferencing solution and telephonic solution. The way we think about it is to have an integrated approach with the platform. The other is to deliver all those services that are being delivered by independent vendors. We provide ways for a company not to have many relationships with vendors. It’s because we provide vendor consolidations to them.</p>
<p class="Pa23" style="margin-top:5.0pt">
	<strong><span myriad="" style="font-size:10.0pt;
mso-bidi-font-family:"><br />
	How can business houses in Nepal benefit from this technology?</span></strong></p>
<p class="MsoNormal">
	<span myriad="" style="font-size:10.0pt;
mso-bidi-font-family:">Our software will help the user nations to save money on telecommunication. Nepal is a country with a lot of remote areas where people are seeking access to information. Unified communications can help them to deliver more value to the employees, customers, public servants and the citizens of the country. Many government agencies around the world are adopting this technology for better connection with citizens who need access to information. The software called SharePoint enables sharing of information and documents with people internally and the outside world.</span></p>
<p class="MsoNormal">
	<span myriad="" style="font-size:10.0pt;line-height:115%;mso-bidi-font-family:
">We help the IT departments in Nepal to provide one platform that can address all the different productivity needs. Therefore, it reduces their cost of having multiple vendor relationship and different solutions from different vendors. In addition, the IT department can have expertise around a single platform. Whereas, on the business side, people’s familiarity with applications like Word, <br />
	<br />
	<br />
	<br />
	<br />
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<p class="MsoNormal">
	<span style="font-size:16px;"><span style="line-height: 115%;"><img alt="remit" border="1" height="284" hspace="10" src="http://www.newbusinessage.com/ckfinder/userfiles/Images/remittance.jpg" vspace="10" width="449" /><br />
	<br />
	<br />
	Income received as the Nepali workers’ remittances working abroad has become an automatic instrument for poverty reduction in Nepal. Remittance has been recognised as a key to solve various economic ills afflicting the country. Moreover, it has raised some obvious questions. For instance, long the national economy can solely depend on the source of remittance to sustain itself? Is it possible to use the remitted money to improve social livelihood of the Nepali people or, can it be used in more productive sector? Can our policymakers think beyond the box of remittance economy?</span></span></p>
<p class="MsoNormal">
	<span style="font-size:16px;"><span style="line-height: 115%;">&nbsp;</span></span></p>
<p class="MsoNormal">
	<span style="font-size:10.0pt;line-height:115%">55 New Business Age | September 2012</span></p>
<p class="MsoNormal">
	<span style="font-size:10.0pt;line-height:115%">&nbsp;<br />
	<br />
	<img alt="coverstory" border="1" height="339" hspace="5" src="http://www.newbusinessage.com/ckfinder/userfiles/Images/coverstory_1.jpg" vspace="5" width="300" /><br />
	</span></p>
<p class="MsoNormal">
	<span class="A8"><span myriad="" style="font-size:24.0pt;line-height:
115%;font-family:">COVER STORY</span></span></p>
<p class="Pa9" style="text-align:justify">
	<span class="A13"><span style="font-size:
59.0pt;color:windowtext">T</span></span><span myriad="" style="font-size:10.0pt;
mso-bidi-font-family:">he total households receiving remittances in Nepal stood at 55.8 per cent in the year 2010-11 as revealed by the findings of Nepal Living Standards Survey (NLSS)- III released by the Central Bureau of Statistics (CBS). This is a sharp rise from the year 2003-04 when only 31.9 per cent households in Nepal received remittances. Another remarkable statistic in the report was the 18 per cent decline in absolute poverty in the six years between 2003-04 and 2009- 10. According to the report, only 13 per cent Nepalis now remain below the absolute poverty line (the benchmark being 2,200-calorie intake per day per person). Nepal ranks sixth among the countries in terms of Remittances-to- GDP ratio as stated in the World Bank Report-2011. It rose from Rs 47.5 billion in 2001-02 to Rs 231.73 billion in 2009- 10. Remittances-to-GDP ratio almost doubled from 10.3 per cent in 2001-02 to 19.6 per cent in 2009-10. Economists estimate that this figure will rise to 20 per cent in 2012-2014. <br />
	</span></p>
<p class="Pa10" style="text-align:justify">
	<span myriad="" style="font-size:10.0pt;
mso-bidi-font-family:">It is estimated that approximately 2.2 million Nepalis are working as migrant workers in various countries. Nearly 90 per cent of migrant workers have found employment in Qatar, Malaysia, Saudi Arabia, the UAE, and Kuwait. Among them, 10 per cent of migrant labors are female. According to Bal Bahadur Tamang, the President of Foreign Employment Association of Nepal, the growing construction business in the Gulf countries has created a demand for large number of Nepali workers. “Qatar is hosting a showpiece World Cup Football tournament in 2022 and therefore, the amount of construction work happening there has increased the demand of Nepali workers substantially,” informed Tamang. <br />
	<br />
	Increasing remittance flow has emerged as a favored poverty alleviation strategy in developing countries, particularly in Nepal. Policymakers believe that the financial contribution from migrant workers has provided impetus to development activities. They also opine that the scope of such revenue should be further enhanced. Nara Bahadur Thapa, Chief Manager of Nepal Rastra Bank at Biratnagar said, “The robust relationship between the growth in remittance and the reduction in poverty has evolved on account of a significant growth in the number of rural poor people seeking jobs in the Gulf countries.” </span></p>
<p class="Pa10" style="text-align:justify">
	<span myriad="" style="font-size:10.0pt;
mso-bidi-font-family:">“Annually, Nepal is receiving Rs 200 billion as remittance,” shared Dr Ganesh Gurung, a Remittance Economist. Based on the data of the Department of Foreign Employment, 1,500 people leave the country for foreign employment every day on an average as of August 2011. Quite naturally, the country has also been receiving proportional amount of remittances from these migrant workers employed abroad. From mid-July to mid-August 2011, the number of Nepalis going abroad for jobs was 45,165. This heavy reliance on foreign employment has shifted the Nepali economy from an agriculture-based economy towards a remittance-based one. </span></p>
<p class="MsoNormal">
	<span myriad="" style="font-size:10.0pt;line-height:115%;mso-bidi-font-family:
">The NLSS, 2010-11 reported that the common Nepalis’ access to basic facilities has improved over the years. Despite political upheavals and unrest, the average household income of Nepalis has increased by more than four-fold to Rs 202,374 over the span of 15 years due to increased receipt of remittances. Thapa shared that the remittance thus received is widely spent on daily consumption, followed by loan repayment and household property instead of capital formation. A Nepal Rastra Bank (NRB) report says that 78.9 per cent of the remittance is used on daily consumption, whereas 7.1 per cent of the remittance is used to repay loans followed by 4.5 per cent on household property, 3.5 per cent on education and only a minimal 2.4 per cent is used for capital formation. According to Dr Gurung, the increased remittance per household has not only increased consumption pattern but changed the social structure too. The nominal per capita consumption expenditure in aggregate increased from Rs 15,848 in 2003-04 to Rs 34,829 in 2010, at an annual average growth rate of 14 per cent. The survey also identified urban hills (9 per cent) and Kathmandu (11 per cent) having the least poor population while the highest population identified as poor live in the mountains (42 per cent) and rural hills in the Mid and Far-West regions (37 per cent).</span></p>
<p class="MsoNormal">
	<span myriad="" style="font-size:10.0pt;line-height:115%;mso-bidi-font-family:
">According to Tamang, a significant chunk of the money received via remittance is being spent on imports and real estate instead of it being invested in productive sectors. The main challenge does not lie in receiving remittance but in channelizing it into productive use. Therefore, remittance should be included in the national development agenda to monitor its use. Though the government has given permission to manpower agencies to open foreign currency account in Nepali commercial banks, the government’s responsibility does not end here. Apart from monitoring and facilitating the use of this income, the government should encourage migrants to hold their income in financial assets within the country rather than abroad.</span></p>
<p class="MsoNormal">
	<span myriad="" style="font-size:10.0pt;line-height:115%;mso-bidi-font-family:
">“Income received from remittance source has become an automatic instrument for poverty reduction in Nepal as both the government and the private sector have failed to create adequate number of jobs,” said Thapa. If we compare the domestic savings-to- GDP ratio, which is currently around 10 per cent, and national savings-to- GDP ratio standing at 36.7 per cent, the difference is largely due to remittance. Against the national savings-to-GDP ratio at 36.7 per cent, the total fixed investment-to-GDP ratio is 19.6 per cent, reflecting the failure of Nepali society to make productive use of remittance driven national savings. As of mid-June 2012, foreign exchange stood at Rs 427 billion, sufficient <span style="mso-spacerun:yes">&nbsp;</span>nough to <span style="mso-spacerun:yes">&nbsp;</span>cover merchandise and services import of around 10 months. This reflects two things. First, remittance is an important source of foreign exchange earnings, underpinning macroeconomic stability of Nepal. <br />
	</span></p>
<p class="MsoNormal">
	<span myriad="" style="font-size:10.0pt;line-height:115%;mso-bidi-font-family:
">Second, the magnitude of foreign exchange indicates that both the government and the private sector have failed to make productive use of foreign exchange accumulated from remittance. Gurung opines that there is no question of utilising remittance for income generating activities for families living below the poverty line. In their case, remittance will take care of consumption. However, the families managing to save out of remittance can be encouraged to invest in income generating activities that could be an issue of micro management of remittance. Similarly, families engaged in agricultural activities and receiving remittance in excess of their consumption requirements should be encouraged to invest in high yielding crops and animal husbandry. This will help boost the agricultural production and consequently, their incomes. <br />
	</span></p>
<p class="MsoNormal">
	<span myriad="" style="font-size:10.0pt;line-height:115%;mso-bidi-font-family:
">On the other hand, families residing in urban and semi-urban areas should be encouraged to invest in small services such as tailoring, taxi driving and undertaking petty businesses. For this to happen, the government can help establish multipurpose urban cooperatives. Lila Prasad Sitaula, Executive Director at Foreign Exchange Management Department of Nepal Rastra Bank, said, “The government, together with the NRB has introduced few important policies to utilize remittance productively. One of those is the issuance of remittance bond targeting migrant workers. Along with it, the NRB is formulating a policy to encourage banks and financial institutions for opening up branches in the rural areas, thus, bringing money in the banking system and channelize it in the productive sector. Furthermore, some provisions have been made to allow remittance companies to manage their forex balance in a more profitable manner, added Sitaula.</span></p>
<p class="MsoNormal">
	<span myriad="" style="font-size:10.0pt;line-height:115%;mso-bidi-font-family:
">The government also started issuing foreign employment bond for mobilizing funds and making productive use of remittance since 2009-10 but so far, it has failed to gain popularity among the Nepali migrant workers abroad. According to Chandra Dhakal, Chairman of Nepal Remitters’ Association, remittance is the major factor in improving Nepal’s position in Human Development Index and improving poverty level. Remittance has played a major role in improving livelihood of millions of Nepalis. It has helped people have better access to health, education and sanitation. Dhakal added that the time has come to think about the productive investment of remittance for economic development of the country because capital has been a major constraint. <br style="mso-special-character:line-break" />
	<br style="mso-special-character:line-break" />
	</span></p>
<p class="MsoNormal">
	<span myriad="" style="font-size:10.0pt;line-height:115%;mso-bidi-font-family:
">&nbsp;The Monetary Policy of 2012-13 has encouraged and facilitated those companies wishing to establish remittance business in various regions and countries. “We have realized the need for further expanding money transfer agencies to the countries where the supply of remitting service is few or not in existence,” shared Sitaula. Additionally, necessary bylaws have been introduced governing money transfer business activities. The government should prepare proper plans and policies in order to encourage the migrant workers to use formal channels instead of using illegal channels like ‘hundi’. Besides, the government should support the recruitment agencies in receiving recruitment charges, visa charges etc through proper banking channels which should automatically reduce the use of illegal banking channels.</span><span myriad="" style="font-size:10.0pt;mso-bidi-font-family:"><br />
	<br />
	International Money Express (IME) was the first Nepali financial institution starting its services to control the flow of remittance through banking channel twelve years ago. And since the last few years, commercial banks through their representatives and agents have also been involving in money remitting business. As per a recent report of central bank, the total remittance for the first 11 month of FY 2011-12 stood at Rs 320.38 billion showing a growth of 39.6 per cent compared to a growth of 10.1 per cent during the corresponding period of the previous year. Dhakal said, “Though we don’t have any data related to remittance coming through remittance companies, we can estimate that more than 70 per cent of it is channeled through remittance companies.” According to him, remittance companies are doing their best in increasing their network and enhancing their service to bring more remittances through formal channels. The central bank and the government should cooperate and facilitate remittance companies in this noble endeavor, he said.</span> <span myriad="" style="font-size:10.0pt;mso-bidi-font-family:"><br />
	<br />
	“Commercial banks are coming into this business and making it more competitive, however, there is a huge misunderstanding in the scope of work for remittance companies and commercial,” said Dhakal. The present policies have been formulated on the assumption that remittance companies will bring the foreign currency and sell it to commercial banks so that both will be benefited. It is an irony that remittance companies are compelled to sell foreign currency to commercial banks, with whom they are competing at source. Since there is huge disparity in facilities available to remittance companies and commercial banks in terms of foreign currency, the central bank needs to review its policy to ensure sustainability of remittance companies, which are playing an instrumental role in Nepal’s inward remittance. On the other hand, the comfortable reserve position in the country leads to sufficient liquidity in the banking system that is being channelized into productive sectors. Moreover, the increase of foreign exchange reserves allows moving towards gradual liberalization of foreign exchange market.</span></p>
<p class="MsoNormal">
	<span myriad="" style="font-size:10.0pt;
mso-bidi-font-family:">“Preserving the value of foreign exchange is the main concern of the NRB,” said Sitaula. According to him, the central bank has been managing its foreign currency assets keeping it in major international currencies and different asset portfolios in accordance with the principle of portfolio diversification and minimizing currency risk. “A chunk of reserves is invested in highly liquid securities especially sovereign bonds and rest is placed with foreign central banks, BIS and different highly rated foreign commercial banks based on the ratings of international rating agencies such as Standard &amp; Poor’s and Moody’s,” shared Sitaula. While safety and liquidity constitute the main objectives of reserve management in Nepal, return optimization becomes an embedded strategy within this framework, he added.</span></p>
<p class="MsoNormal">
	<span myriad="" style="font-size:10.0pt;
mso-bidi-font-family:">Remittance increases foreign currency availability in the domestic market and raises national savings. Availability of foreign currency, in turn, facilitates financing of essential import and can avert possible balance of payments (BoP) crisis. Despite the rising trade deficit, Nepal witnessed a record current account as well as BoP surplus in the last year because of substantial flow of remittances. Had remittance flows stagnated last year, Nepal would have witnessed deficit in the current account and lesser BoP surplus, said Sitaula. Remittances alone can finance about 90 percent of merchandise trade deficit of the country.</span></p>
<p class="MsoNormal">
	<span myriad="" style="font-size:10.0pt;
mso-bidi-font-family:">These facts reveal a crucial role remittances play in attaining macroeconomic stability in the country. Though increasing remittance has its own advantages, it is also true that over dependency on it in the end will eventually lead to economic failure if the flow of remittance is disrupted. “Of course, nothing would be better than bringing development projects with sufficient funding to utilize the labor force in Nepal itself. For this, the long-term focus ought to be the development of entrepreneurial capabilities of the Nepalis so that remittances could be turned into productive investment that brings higher growth and employment generation,” said Gurung.</span></p>
<p class="MsoNormal">
	<span myriad="" style="font-size:10.0pt;line-height:115%;mso-bidi-font-family:
">However, having said that, remittance has been the only hope in recent times to rescue the faltering economy from the low-level equilibrium trap when the implementation of capital expenditure programme is likely to go on a wild goose chase. Remittance has been imperative for survival, poverty reduction, and eliminating impoverished condition of life in the country. At the same time, the government has to resolve these problems, as remittance is one of the growing and most crucial sectors of the economy.</span></p>
<p class="MsoNormal">
	<span myriad="" style="font-size:10.0pt;line-height:115%;mso-bidi-font-family:
">&nbsp;</span></p>
<p class="MsoNormal">
	<span myriad="" style="font-size:10.0pt;line-height:115%;mso-bidi-font-family:
">&nbsp;</span></p>
<p class="Pa1">
	<span class="A8"><span style="font-size:24.0pt;color:windowtext">COVER STORY</span></span></p>
<p class="MsoNormal">
	<span myriad="" style="font-size:10.0pt;line-height:115%;mso-bidi-font-family:
">&nbsp;</span></p>
<p class="MsoNormal">
	<span class="A49"><span myriad="" style="font-size:23.0pt;line-height:
115%;font-family:">‘Remittances can have Long-term Impact if Channeled into Productive Investment’<br />
	<br />
	<br />
	<img alt="ganesh gurung" border="1" height="313" hspace="5" src="http://www.newbusinessage.com/ckfinder/userfiles/Images/ganesh-gurung.jpg" vspace="5" width="300" /><br />
	</span></span></p>
<p class="Pa1">
	<span style="font-size:16px;"><span class="A5"><span style="color: windowtext;">DR GANESH GURUNG </span></span></span></p>
<p class="MsoNormal">
	<span style="font-size:16px;"><span class="A5"><span color:="" style="line-height: 115%; font-family: ">&nbsp;Remittance Economist</span></span></span></p>
<p class="MsoNormal">
	<strong><span style="font-size:16px;"><strong>&nbsp;</strong><br />
	&nbsp;</span></strong></p>
<p class="Pa23" style="margin-top:5.0pt;text-align:justify">
	<strong><span myriad="" style="font-size:10.0pt;mso-bidi-font-family:">How do you view the contribution of remittance to the reduction of poverty in Nepal?</span></strong></p>
<p class="Pa10" style="text-align:justify">
	<span myriad="" style="font-size:10.0pt;
mso-bidi-font-family:">This, in fact, is an interesting aspect. The post conflict political situation has not witnessed major economic growth and hence unemployment and underemployment is an ever growing phenomenon. The political unrest decelerated the pace of industrial expansion and halted plenty of small and medium enterprises all over the country creating unemployment throughout the country. In that situation, a huge number of migrant workers amplified the number because of which, foreign employment became an emerging business in Nepal’s context. </span></p>
<p class="Pa10" style="text-align:justify">
	<span myriad="" style="font-size:10.0pt;
mso-bidi-font-family:">In my opinion, remittance has played a vital role in poverty reduction. Various reports and planning documents published in recent times have attributed the dramatic fall in absolute poverty to the inflow of remittances in Nepal. The percentage of all households receiving remittances in Nepal during the year 2010/11 was 55.8 per cent. This is a sharp rise from the year 2003/04 when it stood at 31.9 per cent. There has been an 18 per cent decline in absolute poverty in the six years between 2003/04 and 2009/10. Therefore, according to me, foreign employment is a major economic phenomenon in Nepal and its relation to the economic growth of the country is integral. </span></p>
<p class="MsoNormal">
	 </p>
<p class="Pa23" style="margin-top:5.0pt;text-align:justify">
	<strong><span myriad="" style="font-size:10.0pt;mso-bidi-font-family:">What is the trend of use of remittance in Nepal in general households? What is the ratio of its use in productive and unproductive sectors? How do you analyze such trends? </span></strong></p>
<p class="Pa10" style="text-align:justify;text-indent:14.0pt">
	<span myriad="" style="font-size:10.0pt;mso-bidi-font-family:">I believe that there are also some long-term opportunities brought about by foreign employment. Children of the foreign employment workers are getting quality education paid for by the remittances from their parents. The nation can benefit in the long term out of this trend as skilled and educated manpower is produced for the economy.<br />
	<br />
	The remittance sent by the migrant workers can be used to further generate wealth in the country. Besides spending on consumption, it has to be invested in productive sectors, which would bring about some positive change on the major macroeconomic variables of the country. Remittances can produce long term impact only if it is channeled into productive investment. Going by the current trends of consumption in Nepal, if the remittances are soaked up by consumption only and are not turned into investments, the short term boost provided by it in the economy will not be sustainable. Productivity will decline and the economic choices get tougher if the situation is not addressed in time and is stalled being shortly content with the remittance-based income. More remittance money is spent on consumption than in any other aspects. Only 2.4 per cent of remittance money is spent for capital formation in our country.</span> <span myriad="" style="font-size:10.0pt;mso-bidi-font-family:"><br />
	<br />
	Due to increase in revenues from remittances, the currency of a country becomes stronger compared to that of other nations resulting in exports becoming more expensive for other countries to buy. This can make the manufacturing sector less competitive. Thus, with the increase in the purchasing capacity of households receiving remittance, there is high demand of consumption and imported goods. There has been an appreciation of real exchange rate due to rise in the price of non-tradable with respect to tradable. Furthermore, there has been an erosion of manufacturing sector entailing to their reduced competitiveness. </span></p>
<p class="MsoNormal">
	 </p>
<p class="MsoNormal">
	 </p>
<p class="MsoNormal">
	<strong><span myriad="" style="font-size:10.0pt;mso-bidi-font-family:">How do you compare the remittance figures between today and five years ago?</span></strong></p>
<p class="Pa10" style="text-align:justify;text-indent:14.0pt">
	<span myriad="" style="font-size:10.0pt;mso-bidi-font-family:">Despite the huge contribution of remittance to GDP, Nepal’s economic growth rate has never exceeded 4 per cent except in 2005 although the indication is that remittance will go up in the years to come. A remittance share of 20 per cent of the total GDP should have created enough employment opportunities, but the unemployment rate still stands at 42 per cent. Furthermore, there appears to be an inversely proportional relationship between employment abroad and industrial growth. For instance, industrial production growth rate was only 1.8 per cent in 2011 whereas from 2002 to 2005, the growth rate was 8.7 per cent when remittance inflow was far less. In this ratio, the remittance pattern is in the increasing trend if we compare the figures of 2010/11 and 2004/05. However, the challenge is to channelize the remittance in productive sector. </span></p>
<p class="MsoNormal">
	 </p>
<p class="MsoNormal">
	<strong>&nbsp;</strong></p>
<p class="Pa23" style="margin-top:5.0pt;text-align:justify">
	<strong><span myriad="" style="font-size:10.0pt;mso-bidi-font-family:">What is the contribution of remittance in GDP? </span></strong></p>
<p class="Pa23" style="margin-top:5.0pt;text-align:justify">
	 </p>
<p class="Pa10" style="text-align:justify">
	&nbsp;<span myriad="" style="font-size:10.0pt;
mso-bidi-font-family:">It is estimated that the number of Nepali migrant workers is officially 1.4 million and the number of undocumented migrant workers is estimated to be the same. Annually, Nepal is receiving Rs 200 billion as remittance and its contribution to GDP is about 20 per cent. According to World Bank report - 2011, Nepal ranks sixth among countries in whose GDP remittance holds a very high share. It rose from Rs 47.5 billion in 2001/02 to Rs 231.73 billion in 2009/10. Remittance-to-GDP ratio almost doubled from 10.3 per cent in 2001/02 to 19.6 per cent in 2009/10. Therefore, we can say that there has been a positive impact of remittance in GDP. </span></p>
<p class="MsoNormal">
	 </p>
<p class="Pa23" style="margin-top:5.0pt;text-align:justify">
	<strong><span myriad="" style="font-size:10.0pt;mso-bidi-font-family:">How successful has the state become to utilize the remittance income in the development activities? </span></strong></p>
<p class="Pa10" style="text-align:justify">
	<strong>&nbsp;</strong><span myriad="" style="font-size:10.0pt;
mso-bidi-font-family:">It is rather disappointing that the state has not been able to utilize the remittance to the optimal level. Very less has been done in this aspect. With a huge number of migrant workers working across the globe, remittances are emerging as a new way for alleviating poverty in the developing and least developed countries. </span></p>
<p class="Pa10" style="text-align:justify">
	&nbsp;<span myriad="" style="font-size:10.0pt;
mso-bidi-font-family:">Due to unhealthy investment environment in the home country, remittance money has not been used productively which has made Nepal a consumption oriented economy rather than an investment oriented one. This has slowed the pace of development activities in the country. Presently, 78.9 per cent of remittance money is used for daily consumption while only 2.4 per cent is being used in the productive sector. So, the government should create an investment friendly environment in order to use the remittance money in the productive sector. </span></p>
<p class="Pa10" style="text-align:justify">
	&nbsp;<span myriad="" style="font-size:10.0pt;
mso-bidi-font-family:">In my opinion, the migrant workers should be trained and well informed about what they can do with the money they earn at destination countries. The recruiting agencies should take them in confidence that even after they return to their country, they could have a secure future. Different plans and policies have to be made to create investment friendly environment for these workers. In addition, proper investment environment in the home country acts as a backup in case of emergencies oversees and even during financial crisis. Similarly, the government should introduce measures to encourage savings among migrant workers and their remittance recipient families. </span></p>
<p class="MsoNormal">
	 </p>
<p class="Pa23" style="margin-top:5.0pt;text-align:justify">
	<strong><span myriad="" style="font-size:10.0pt;mso-bidi-font-family:">What is your vision to utilize the expertise of the private sector as well as the state to utilize the earning from remittance? </span></strong></p>
<p class="Pa10" style="text-align:justify;text-indent:14.0pt">
	<strong>&nbsp;</strong><span myriad="" style="font-size:10.0pt;mso-bidi-font-family:">Private sector has a great role to play here. They are the ones who should be making attractive and feasible business ventures that are appropriate for migrants. Migrant workers do not know about the viable projects where their money can be invested. Therefore, in collaboration with these migrant workers, the private sector should establish business ventures that are not only viable but also fulfill the need of the country. Thus, both will have a win-win situation.<br />
	<br />
	People recruited for foreign must be provided several types of training that can enhance their productivity to get better jobs. Proper trainings should be provided to these workers to gain required skills in the destination country. Another major area where private companies are key players is the remittance receiving procedures. There are dozens of private money transfer companies that are providing the service and transferring money through legal and formal channels. The spread of such private services to even the rural areas of the country suggests increasing demand for their services and profitability potential. </span></p>
<p class="MsoNormal">
	&nbsp; <br />
	 </p>
<p class="Pa23" style="margin-top:5.0pt;text-align:justify">
	<strong><span myriad="" style="font-size:10.0pt;mso-bidi-font-family:">What is the situation of Labor Desk and Welfare Fund in the present situation? Is there enough transparency? <br />
	<br />
	</span></strong></p>
<p class="Pa10" style="text-align:justify;text-indent:14.0pt">
	<span myriad="" style="font-size:10.0pt;mso-bidi-font-family:">The Labor Desk has acted more as an extended bureaucracy on the part of the government. The Welfare Fund has collected Rs one billion as of September 2011. However, no significant work has been accomplished to properly utilize this amount. There is less transparency regarding the fund collected thus far. In my opinion, the fund should be utilized to provide trainings, skill-enhancing workshops, and information required for foreign employment. This way, the migrant workers will be well equipped with required skills and well informed about the destination country. This will automatically minimize the risk of the labors being cheated or discriminated at the host nation. </span></p>
<p class="MsoNormal">
	<strong>&nbsp;</strong></p>
<p class="MsoNormal">
	<strong><span myriad="" style="font-size:10.0pt;mso-bidi-font-family:">What is the contribution of remittance in Balance of Payments?</span>&nbsp; <br />
	</strong></p>
<p class="MsoNormal">
	<span myriad="" style="font-size:10.0pt;
mso-bidi-font-family:">Nepal was compelled to borrow $42.5 million from the International Monetary Fund under its rapid credit facility to address BoP deficit one-and-a-half years ago. However, the acceleration in the growth of remittance along with the improvement in the service account has helped maintain a comfortable balance of payments (BoP) situation. After remaining in deficit for two years, the country’s BoP turned surplus in the second last month of the last fiscal year and has continued to grow since. In the same period last year, the BoP had recorded a deficit of Rs 5.72 billion.</span></p>
<p class="MsoNormal">
	<strong>&nbsp;</strong></p>
<p class="MsoNormal">
	<strong><strong>&nbsp;</strong></strong></p>
<p class="Pa23" style="margin-top:5.0pt;text-align:justify">
	<strong><span myriad="" style="font-size:10.0pt;mso-bidi-font-family:">An initiative of the government-foreign employment bond has said to have failed miserably. How can such initiatives be made successful?</span></strong></p>
<p class="MsoNormal">
	<span myriad="" style="font-size:10.0pt;
mso-bidi-font-family:">In my opinion, it is necessary to create a mechanism that provides incentives to the stakeholders so that they are keen to sell on the one hand and on the other, interest rate and other facilities given are not attractive for the migrant workers. Thus, the government should make the bond an attractive package and provide them some more incentive so that it is comparatively profitable for them to buy.</span></p>
<p class="MsoNormal">
	<span myriad="" style="font-size:10.0pt;
mso-bidi-font-family:">Foreign employment bond is one of the key instruments that the government has adopted to raise internal loans. However, lack of awareness and complicated procedures are responsible for the low subscription. The first foreign employment bond, issued in fiscal year 2009-10 had seen subscription worth Rs 4.6 million of the total issue of Rs one billion at 9.5 per cent interest. Likewise, last year too, bonds worth only Rs four million of the total issue worth Rs five billion were sold.</span></p>
<p class="MsoNormal">
	<span myriad="" style="font-size:10.0pt;line-height:115%;mso-bidi-font-family:
">The repetitive failure of the bond to attract enough investment from the migrant worker community has been attributed to the absence of proper marketing channels. The failure of the last two batches had got NRB to look into diverse markets allowing even Non Resident Nepalis (NRN) and returnee migrant workers to purchase the bond instead of only focusing on migrant workers in the Gulf countries and Malaysia. The layman is missing out on booking good returns by investing in bonds due to lack of awareness about investing in government securities.</span></p>
<p class="MsoNormal">
	<span myriad="" style="font-size:10.0pt;line-height:115%;mso-bidi-font-family:
">&nbsp;</span></p>
<p class="Pa1">
	<span class="A8"><span style="font-size:24.0pt;color:windowtext">COVER STORY</span></span></p>
<p class="Pa1">
	<span class="A8"><span style="font-size:24.0pt;color:windowtext"><span style="mso-spacerun:yes">&nbsp;<br />
	<img alt="bala bahadur tamang" border="1" height="293" hspace="10" src="http://www.newbusinessage.com/ckfinder/userfiles/Images/BAL-BAHADUR-TAMANG.jpg" vspace="10" width="300" /></span></span></span></p>
<p class="MsoNormal">
	<span style="font-size:18px;"><span class="A5"><span color:="" style="line-height: 115%; font-family: ">BAL BAHADUR TAMANG <br />
	President <br />
	Foreign Employment Association</span></span></span></p>
<p class="MsoNormal">
	<span style="font-size:18px;"><span class="A5"><span style="line-height: 115%; font-family: ">&nbsp;</span></span></span></p>
<p class="MsoNormal">
	<span class="A5"><span myriad="" style="font-size:10.0pt;line-height:
115%;font-family:">&nbsp;</span></span></p>
<p class="MsoNormal">
	<strong><span class="A5"><span myriad="" style="font-size:10.0pt;line-height:
115%;font-family:">&nbsp;</span></span></strong></p>
<p class="Pa23" style="margin-top:5.0pt;text-align:justify">
	<strong><span myriad="" style="font-size:10.0pt;mso-bidi-font-family:">Which are the countries currently demanding Nepali labors on a big scale? What kind of wages do these migrant workers earn abroad? </span></strong></p>
<p class="MsoNormal">
	<strong>&nbsp;</strong><span myriad="" style="font-size:10.0pt;mso-bidi-font-family:">Most of the world’s estimated 150 million migrants are people searching for improved economic opportunities abroad. Nepal has not been able to escape this phenomenon either. Economic migration to the Middle East from countries in South Asia and other parts of the world was spurred-on by the oil boom in the early 1970s. The reasons behind the migration to the Gulf countries are almost same in Nepal as other parts of the world. Foreign labor migration has developed in such a way over the decades that it has shifted Nepal’s agricultural-based economy towards a remittance based one.</span></p>
<p class="MsoNormal">
	<span myriad="" style="font-size:10.0pt;mso-bidi-font-family:">Nepalis labors are demanded mostly in countries like Malaysia, Dubai, Saudi Arabia and Qatar. Most of the Nepali labors ranging from unskilled, semi-skilled and skilled are equally opting to receive foreign employment to these countries. The minimal wage rate for unskilled labor is 800, semi-skilled is 1,000 and for skilled labor is 1,200 Saudi Riyal. Apart from it, some European countries are also demanding skilled Nepali labors. However, the Middle East nations stand above in this aspect.</span></p>
<p class="MsoNormal">
	<strong>&nbsp;</strong></p>
<p class="Pa23" style="margin-top:5.0pt;text-align:justify">
	<strong><span myriad="" style="font-size:10.0pt;mso-bidi-font-family:">Why is it that the Nepali manpower agencies have not been able to send skilled manpower to the developed countries? How can this problem be resolved? </span></strong></p>
<p class="MsoNormal">
	<strong>&nbsp;</strong><span myriad="" style="font-size:10.0pt;
mso-bidi-font-family:">There is a demand of skilled workers in the international labor market. However, there is a vast difference while comparing the educational and technical standards of Nepali labors with those of the other countries. It is believed that Nepali workers are accepted in East and South Asia as well as the Gulf countries only because they come cheap and do whatever job is given to them. They lack required technical skills which makes it difficult for them to get visas for recruitment in the developed nations.</span></p>
<p class="MsoNormal">
	<span myriad="" style="font-size:10.0pt;
mso-bidi-font-family:">I strongly believe that the government should improve the curriculum in schools so that it can provide more practice-based knowledge. Apart from it, the government should also conduct consultation meetings with the experts, occupational groups, trade unions and foreign employment enterprises to make rules and regulations for the promotion and management of foreign employment occupation.</span></p>
<p class="MsoNormal">
	 </p>
<p class="MsoNormal">
	<strong><span myriad="" style="font-size:10.0pt;mso-bidi-font-family:">How do you view the conduct of manpower agencies operating in Nepal? What are the measures that your association is initiating to give this industry more credibility?&nbsp;&nbsp; </span></strong><br />
	<br />
	<span myriad="" style="font-size:10.0pt;
mso-bidi-font-family:">The main objective of the association is to monitor the manpower agencies providing foreign employment services, for their efficacy and transparency. We are working to make foreign employment business safe, well managed and decent as well as protect the rights and interests of the foreign bound workers and foreign employment entrepreneurs. There are many incidences of fake employment contracts, visas and forged documents etc. The result is that many Nepalis become stranded in foreign countries or are deported from these destinations where they go for work.</span></p>
<p class="MsoNormal">
	<span myriad="" style="font-size:10.0pt;line-height:115%;mso-bidi-font-family:
">A large number of unlicensed agencies exist in the manpower market in Nepal today. Estimates suggest that more than 200 unlicensed agencies are clandestinely involved in this business and bypass all official channels. For example, there are some manpower agencies charging more than Rs 2-3 lakhs per person for a position of manual labor in the Gulf countries or Malaysia. However, the actual cost should be much less. The association is closely monitoring the manpower agencies to make them follow the code and conduct of FEA. <br />
	</span></p>
<p class="MsoNormal">
	<span myriad="" style="font-size:10.0pt;mso-bidi-font-family:">A high-level advisory committee with the participation of the Ministries of Labor and Finance, the National Planning Commission and foreign employment organizations should jointly work, in order to expand foreign employment opportunities and increment the reliability of agents. The association is preparing a draft of proposal concerning the trainings that is to be provided to the workers seeking foreign employment opportunities in the days ahead.</span></p>
<p class="MsoNormal">
	<strong><span myriad="" style="font-size:10.0pt;mso-bidi-font-family:">How can ‘Hundi’ transaction be controlled? Why have manpower agencies not been able to encourage the migrant workers to use formal channels for remittance flow?</span></strong></p>
<p class="MsoNormal">
	<span myriad="" style="font-size:10.0pt;mso-bidi-font-family:">Remittance is one of the important sources of income. The contribution of remittance on Gross National Product is 23.6 per cent. In some cases, it seems that the process of remittance is lengthy and costly. The government should prepare proper plans and policies in order to encourage the migrant workers to use formal channels for remittance purpose. It should provide orientation classes and distribute booklets mentioning the disadvantages of using illegal banking channels like hundi, for instance. The government should also support the recruitment agencies in receiving recruitment charges, visa charges etc through proper banking channels and thereby automatically reduce the use of illegal banking channels. Currently, about 25 per cent of remittance flow is being carried out through hundi. The only way we can control hundi transactions is through easy banking access and close monitoring.</span></p>
<p class="MsoNormal">
	 </p>
<p class="MsoNormal">
	<strong><span myriad="" style="font-size:10.0pt;mso-bidi-font-family:">What is your suggestion to direct the inflow of remittance exclusively from banking channels?</span></strong></p>
<p class="MsoNormal">
	<span myriad="" style="font-size:10.0pt;mso-bidi-font-family:">We have to make the migrant workers understand that huge amounts can be invested in micro, technological and small and medium enterprises. This not only generates employment opportunities, but also stimulates demand for goods and services leading to increment in household income and acquisition of real estate. We can do this by providing trainings to migrant workers before they leave for their destination countries. We have to make them realize that their money would be invested in securing their future and they would have a stake in government projects. It will definitely encourage them to use the formal channels of remittance flow. Apart from it, the easy mechanism for remittance flow through banking channel has to be set up accordingly. Only then, the migrant workers would be encouraged to use the banking channel to send their money to Nepal.</span><br />
	<br />
	 </p>
<p class="MsoNormal">
	<strong><span myriad="" style="font-size:10.0pt;mso-bidi-font-family:">How do you think the families back in Nepal are utilizing the money received from migrant workers?</span> <br />
	</strong></p>
<p class="Pa10" style="text-align:justify">
	<span myriad="" style="font-size:10.0pt;
mso-bidi-font-family:">Instead of the money going to productive sectors, a significant chunk of the remittance is being spent on imports and real estate. Households that owned houses have decreased while those renting houses have increased. The houses of migrant workers have been modernized replacing thatched roof with steel roofs. Access to power has substantially increased too so are the households with safe drinking water, toilets and LPG for cooking. Consumption expenditure on food, housing, and education has increased resulting in a rise in the living standard. However, less money has been invested for capital formation at the macroeconomic level. </span></p>
<p class="MsoNormal">
	 </p>
<p class="MsoNormal">
	<strong>&nbsp;<span myriad="" style="font-size:10.0pt;mso-bidi-font-family:">It is said that the Foreign Employment Bond issued by the government has failed due to the uncooperative behaviors of manpower agencies. What is your take on it? What is your suggestion to best utilize the remittances sent by the migrant workers?</span><br />
	</strong></p>
<p class="MsoNormal">
	<span myriad="" style="font-size:10.0pt;
mso-bidi-font-family:">It is very unfair to say that manpower agencies have shown uncooperative behavior regarding the Foreign Employment Bond. Actually, there has not been enough publicity of the bond to the migrant workers. Besides, the migrant workers do not have much purchasing power as they have many financial obligations that need to be fulfilled with limited income.</span></p>
<p class="MsoNormal">
	<span myriad="" style="font-size:10.0pt;
mso-bidi-font-family:">As of now, remittance is being used in unproductive areas like building houses and other unnecessary products. It would be much better if remittance could be used in productive sector like education, hydro power etc.</span></p>
<p class="MsoNormal">
	<strong>&nbsp;</strong></p>
<p class="Pa23" style="margin-top:5.0pt;text-align:justify">
	<strong>&nbsp;<span myriad="" style="font-size:10.0pt;mso-bidi-font-family:">The welfare fund has collected around Rs one billion as of September 2011 but it has not been utilized or any productive work. What are the necessary steps that can be taken to properly utilize this amount?</span></strong></p>
<p class="MsoNormal">
	<span myriad="" style="font-size:10.0pt;
mso-bidi-font-family:">According to the Foreign Employment Act 2064 BS, the Foreign Employment Promotion Board is expected to use the amount collected under the Welfare Fund, in conducting foreign employment awareness programs in 72 districts. I, being a member of the said board, raise these issues to the government to address the problems faced by the migrant workers.</span></p>
<p class="Pa10" style="text-align:justify">
	<span myriad="" style="font-size:10.0pt;
mso-bidi-font-family:">In my opinion, the board has to provide loans with minimum interest to those working abroad. If their families who are in Nepal get loans, there is a good chance that they will invest such amount in the p</span></p>',
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			'description' => 'Income received as the Nepali workers’ remittances working abroad has become an automatic instrument for poverty reduction in Nepal. Remittance has been recognized as a key to solve various economic ills afflicting the country. Moreover, it has raised some obvious questions.',
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			'title' => 'Bottlenecks To Investment',
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	<span class="A13"><span style="font-size:
59.0pt">T</span></span><span style="mso-tab-count:1">he Government of Nepal has declared 2012 as the Investment Year. It was apparently meant to attract international investment, or foreign direct investment (FDI) into Nepal. But as the year closes to its end, there still is not any case of significant FDI entering this country. Worse still, a number of companies with such investment have already pulled their shutters down, or, planning to do so. The recent example is the closure of Kathmandu franchisee outlets of the global food chain KFC and Pizza Hut. And, as of penning these lines, there was no convincing sign of them opening soon. Even if they did, the damage done by the reason of its closure – overtly politicized labour highhandedness – is sure to be a detracting factor for the potential investors. Moreover, this is the second such case after Surya Nepal closed its readymade garments’ unit some six months ago, also due to industrial disputes.&nbsp;&nbsp; <br />
	<br />
	</span><span style="mso-tab-count:1"><span class="A13"><span style="font-size:
59.0pt"><img alt="fromtheditor" border="1" height="212" hspace="5" src="http://www.newbusinessage.com/ckfinder/userfiles/Images/investment(1).jpg" vspace="5" width="330" /></span></span>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </span></p>
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	<span myriad="" style="font-size:10.0pt;mso-bidi-font-family:">Only political formalities like announcing an Investment Year by the government would never be enough to materially attract the investment. On the contrary if the ‘pull factors’ are adequate, such an investment would automatically flood in even without such announcements. Therefore, Nepal as the nation-state should first check whether such pull factors exist at all, at present.</span></p>
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	<span myriad="" style="font-size:10.0pt;mso-bidi-font-family:">As the fact of the matter, they don’t exist at all. The prolonged political uncertainty, as claimed by all and sundry, is not only the distraction; the radical Reds at the helms of state affairs with the ‘Maoist’ tag is even larger scary factor. The ruling party here might furnish innumerable arguments to establish how investment-friendly they are prepared to be. But why would a potential investor take pain of subscribing these sugar-quoted arguments instead of reading the writing on the wall–THE MAOISTS; whatever it means?</span></p>
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	<span myriad="" style="font-size:10.0pt;
mso-bidi-font-family:">The trade union leaders at the Pizza Hut, after its closure came-up with a lame-duck statement to prove their innocence claiming that they were just forming a unit there and were not planning even to ‘immediately’ strike. That may or may not be true. But why would any investor even take the risk of running the trade under the perennial duress in over-unionized set-up?</span></p>
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	<span myriad="" style="font-size:10.0pt;
mso-bidi-font-family:">There are many instances that the industrial disputes are not limited to securing the trade union rights of any company concerned, but in fact the means to achieve political objectives of the mother Party one is affiliated to. It’s been years that collective bargaining processes enshrined in the labour laws of the country are grossly dishonoured. Sheer force and political protection to union activities has been the cardinal modus operandi in extracting benefits from the employers.</span></p>
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	<span myriad="" style="font-size:10.0pt;line-height:115%;mso-bidi-font-family:
">Some other reasons like the power shortages, infrastructure deficits and lack of policy predictability could be cited as other bottlenecks to attract both international and domestic investment. They are but only secondary to overarching ultra-red communist image of the government and industrial anarchy created by the trade unions invariably led by party cadres rather than the workers. Not only international, even domestic investment is not likely to come by in any significant measure until and unless these fundamentals are changed for the better.<br />
	<br />
	<br />
	</span></p>',
			'published' => true,
			'created' => '2012-10-10',
			'modified' => '2012-10-30',
			'keywords' => '',
			'description' => 'The Government of Nepal has declared 2012 as the Investment Year. It was apparently meant to attract international investment, or foreign direct investment (FDI) into Nepal. But as the year closes to its end, there still is not any case of significant FDI entering this country. Worse still, a number of companies with such investment have already pulled their shutters down, or, planning to do so.',
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	(int) 9 => array(
		'Article' => array(
			'id' => '702',
			'article_category_id' => '50',
			'title' => 'Feedback September 2012',
			'sub_title' => '',
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			'content' => '<p>
	<strong><img alt="feedback" border="1" height="554" hspace="5" src="http://www.newbusinessage.com/ckfinder/userfiles/Images/businessage.jpg" vspace="5" width="452" /><br />
	<br />
	Pharmaceuticals Dilemma <br />
	</strong></p>
<p>
	The cover story on ‘Growing Business of Pharmaceutical Companies’ in your August issue is very inspiring. You have put great effort in highlighting the pros and cons of the pharmaceutical business. I was hitherto unknown about so many aspects of the pharmaceutical business. However, the fact is; there is a shortage of medicines all over the country that is making rural life tougher. The growing business of pharmaceutical industries is not helping in fulfilling the demand of essential medicines let alone the hightech medicines. Medicinal business must not be a money making business whereas industrialists should acknowledge that public support is vital in operating any industry. I am not against those industries running with profit either. What I want to highlight is the money motive of the industrialists which is stopping them from caring about the well being of the citizens besides their businesses. Government encouragement and incentives are also important in this regard. Apart from that, it is pitiful to learn that Nepali industries are competing with similar Nepal-made products. Furthermore, high prices of the medicines have been a headache to the general people. Good monitoring and inspection as carried out by the Department of Drug Administration (DDA) is praiseworthy but it is noted that without publicizing the facts, their hard work goes in vain. The conclusion of the story, however, talks about the future of pharmaceutical companies which indeed has shown a new ray of hope for the medicine business in Nepal.<strong><br />
	Achyut Giri, Baluwatar, Kathmandu</strong></p>
<p>
	<strong><br />
	</strong></p>
<p>
	<strong>Like Reading your Magazine</strong><br />
	<br />
	I am a student of management currently pursuing MBA. Since my aim is to become a business person, I like reading New Business Age as it features interviews and articles on prominent businessman. I hope to try to pursue the strategies and techniques that successful businessman apply in their business. I also like to see a number of international business people being features in your magazine. I was hoping to read about people from the banking sector in your August issue and surprisingly Global IME Bank Chairman Chandra Prasad Dhakal was featured there. It is certainly inspiring to read about somebody like him who had very humble beginnings. Reading your magazine has become a hit with my friends also. Every time I finished reading your magazine, I used to give it to my friends studying management with me. Now, they have started reading your magazine even before I do. <strong><br />
	Aashish Shrestha, New Road, Kathmandu</strong></p>
<p>
	<strong><br />
	</strong></p>
<p>
	<strong>Value Addition</strong></p>
<p>
	<br />
	The new design for the past few issues has made New Business Age very attractive. Extra pages have also added value to your magazine and it is certainly worth the money. It is heartening to note that the magazine is of international standard now, not only for its design and size, but also for its content. I have a collection of your magazine since a long time and I often like to refer to them for various work purposes. <br />
	<strong>Dilip Darji, Hetauda </strong></p>
<p>
	<br />
	<strong>Local People Involvement in Hydropower</strong><br />
	<br />
	Projects Investment from local people in hydropower projects as mentioned in your write up ‘Chilime Hydropower: Dreaming Large’ is a new initiation from the private sector. Business companies know that if local people are involved in the project, it will benefit the people as well as the company in the long run. People support and help in removing hurdles that come in the way of projects running in their locality. I think it is now time for people to initiate themselves if not encouraging closed or semi- closed hydropower projects. People who live close to the future hydropower projects must initiate in running uncertain projects by themselves or seek support from big business firms or aid agencies. Lastly, as we need more hydropower projects to get rid of the load shedding, I expect more write ups in your magazine to this effect in the upcoming issues.<br />
	<strong>Saraswati Kathayat, Mulpani, Chabahil</strong><br />
	<br />
	<br />
	<strong>Chilime Hydropower</strong><br />
	<br />
	<img align="left" alt="hydropower" border="1" height="131" hspace="10" src="http://www.newbusinessage.com/ckfinder/userfiles/Images/chilime.gif" style="width: 243px; height: 131px;margin:10px;padding:10px;" vspace="10" width="243" />In your August issue, there was coverage about Chilime Hydropower. You have mentioned about four other subsidiary hydropower projects along with Chilime Hydropower which I think is good news for people of this country who are troubled by the load shedding. Hydropower has been regarded as a medium to economic prosperity for a developing country like Nepal. I was happy to read about economic and technical preparations reaching final stage in relation to the construction of all four projects. These hydropower companies are expected to help in making Nepal a load shedding free country. It will ease daily life of the normal people as well. Since Chilime is based on 4p model –people-publicprivate- partnership; it proves that the role of private sector is very important in developing hydropower in Nepal. <br />
	<strong>Hira Sharma, Kohalpur, Banke&nbsp; <br />
	</strong></p>
<p>
	 </p>
<p>
	<strong><br />
	</strong></p>',
			'published' => true,
			'created' => '2012-10-04',
			'modified' => '2012-10-30',
			'keywords' => '',
			'description' => 'The cover story on ‘Growing Business of Pharmaceutical Companies’ in your August issue is very inspiring. You have put great effort in highlighting the pros and cons of the pharmaceutical business',
			'sortorder' => '598',
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	),
	(int) 10 => array(
		'Article' => array(
			'id' => '700',
			'article_category_id' => '34',
			'title' => 'Bhatbhateni Opens Outlet At Pokhara',
			'sub_title' => '',
			'summary' => null,
			'content' => '<p>
	<img alt="bhatbateni" border="1" height="191" hspace="5" src="http://newbusinessage.com/ckfinder/userfiles/Images/bhatbateni.jpg" vspace="5" width="400" /><br />
	<br />
	Bhatbhateni Super Market and Departmental Store Pvt Ltd opened its new outlet at Pokhara on July 14. Min Bahadur Gurung, Managing Director of Bhat Bhateni Supermarket and Department Store, inaugurated the new Pokhara outlet. <br />
	<br />
	The opening ceremony was initiated with the slogan “Product of Pokhara, Product of Nepal.” It is the sixth chain of the store and the first outside the Kathmandu Valley. According to Gurung, around 50,000 customers attended the opening of the store including businesspersons, tourism entrepreneurs, Nepal army and police personalities and local people of Pokhara. He expressed his happiness as more number of people visited the store during the opening ceremony, which was double the amount he had expected. <br />
	<br />
	The group has invested Rs 750 million in its Pokhara expansion drive. Gurung informed that the rates of the goods sold from Pokhara stores would be similar as that of the stores in Kathmandu. The new outlet at Pokhara features daily commodities, food items, vegetables, fruits, liquors, kitchenware, garments, electronic appliances, furniture, and decorative items, among others. “We will be bringing the finest quality products from all over the world and also provide world class service to our customers,” said Gurung. <br />
	<br />
	Bhatbhateni will provide 10 percent discount on all products for one month at the Pokhara outlet. <br />
	<br />
	 </p>',
			'published' => true,
			'created' => '2012-08-16',
			'modified' => '0000-00-00',
			'keywords' => '',
			'description' => 'Bhatbhateni Super Market and Departmental Store Pvt Ltd opened its new outlet at Pokhara on July 14. Min Bahadur Gurung, Managing Director of Bhat Bhateni Supermarket and Department Store, inaugurated the new Pokhara outlet.',
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	),
	(int) 11 => array(
		'Article' => array(
			'id' => '699',
			'article_category_id' => '34',
			'title' => 'Nepal Losing Out On FDI To Neighbouring Indian States',
			'sub_title' => '',
			'summary' => null,
			'content' => '<p>
	A good chunk of Foreign Direct Investment (FDI), perhaps meant for Nepal is finding its way to the neighbouring Indian states. The Indian states, specially those sharing borders with Nepal, such as Bihar, Uttar Pradesh, Uttaranchal etc are fast becoming preferred investment destinations for foreign investors, thanks to the rapid infrastructure development, investment friendly industrial policies and guarantee of investment security in India in recent times. <br />
	<br />
	Additionally, the political instability, strikes and extortions has hit the Nepali entrepreneurs adversely. Industrialists in Nepal have held responsible the government for lack of security. They have shown their dissatisfaction towards the government for narrowing the tax liberty rather than providing subsidies. <br />
	<br />
	Suraj Vaidya, President, FNCCI, said, “It is such a dreadful condition that the government has not been able to formulate economic agenda for overall industrial growth. “Investment securities are the major concern for both national and international investors these days. The present scenario would adversely affect the Nepali economy, thus losing out a large chunk of FDI to its southern neighbor, added Vaidya. Upper Karnali and Western Seti incidences have marked a bitter experience amongst the foreign investors. As stated by top officials of the federation, one Nepali Biscuit Industry vanished to India due to lack of favorable business environment. <br />
	<br />
	Dinesh Shrestha, Sectoral Committee Chairperson of FNCCI said, “The leaders of political parties have not been able to create favorable environment for investment. He urged the need to control the party workers to put a stop to the acts of extortion and strikes. The industrial policy drafted two years ago has not come into execution. This has resulted in creating discouragement amongst the Nepali industrialists. <br />
	<br />
	Currently, the financial indicators of Nepal are negative which stands at 134th position in terms of FDI within the list of 141 countries based on the World Investment Report-2011. Similarly, “Doing Business Index” of World Bank has considered Nepal as an unfavorable destination for Investment and doing business. This has relayed negative message in the international arena. On the other hand, foreign investors are lured towards neighbouring states of India due to flexibility in Indian FDI policies. <br />
	<br />
	Radhesh Pant, CEO, Investment Board, said, “Foreign investors seek “One Window Shop” and we have not been able to do adequate marketing of the available resources and other positive aspects.” There is a lack of coordination between the government and private sector in Nepal unlike India, added Panta. According to him, the government should provide investment security to existing investments along with seeking additional flow of FDIs. <br />
	<br />
	According to Vaidya, creating favorable investment environment and improvement in policies are primary steps towards attracting FDIs. Apart from it, political stability is the major factor governing this process. <br />
	 </p>',
			'published' => true,
			'created' => '2012-08-16',
			'modified' => '0000-00-00',
			'keywords' => '',
			'description' => 'A good chunk of Foreign Direct Investment (FDI), perhaps meant for Nepal is finding its way to the neighbouring Indian states. The Indian states, specially those sharing borders with Nepal, such as Bihar, Uttar Pradesh, Uttaranchal etc are fast becoming preferred investment destinations for foreign investors, thanks to the rapid infrastructure development, investment friendly industrial policies and guarantee of investment security in India in recent times.',
			'sortorder' => '596',
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		)
	),
	(int) 12 => array(
		'Article' => array(
			'id' => '698',
			'article_category_id' => '34',
			'title' => 'NDEX Money Expo 2012 From August 31',
			'sub_title' => '',
			'summary' => null,
			'content' => '<p>
	<img alt="" border="1" height="115" hspace="5" src="http://newbusinessage.com/ckfinder/userfiles/Images/NDEX.jpg" vspace="5" width="400" /><br />
	<br />
	A three-day NDEX Money Expo 2012 will take place in the capital from August 31 to September 2. ‘Arthik Abhiyan’ daily and Jamb Technologies in association with Minds Nepal and Morningstar Investment Services are organizing the event. <br />
	<br />
	Inspired from the success of Money Expo 2011 held last year, and being able to obtain wide appreciation from different business groups, visitors, regulatory bodies and participants; “NDEX Money Expo 2012” is believed to be a mega financial event. Being the largest finance and investment show in Nepal, it will focus on the promotion of investment opportunities and wealth protection strategies. <br />
	<br />
	Suraj Vaidya, President of Federation of Nepalese Chambers of Commerce and Industry (FNCCI), said that the expo would help in motivating the investors and bring in investment by creating environment for interaction between different industrialists and business giants. <br />
	<br />
	“Events like this should be organized at regular intervals as they will definitely help improve investment climate in the country,” said Radesh Pant, CEO of Investment Board. Confederation of Nepalese Industries (CNI) Vice President Hari Bhakta Sharma urged the private sector to issue white paper to pressure the government. “Private sector must unite for a common minimum economic agenda and build pressure on the government,” he said. <br />
	<br />
	Similarly, Director of Nepal Rastra Bank Ashwani Kumar Thakur also urged to separate politics and economy for prosperity. Thakur told that he believes events like NDEX Money Expo 2012 would be highly effective to encourage and motivate investors. <br />
	<br />
	Bishnu Prasad Dhakal, Under Secretary at the Ministry of Industry, told that events like NDEX Money Expo 2012 should be a discussion platform on choosing the appropriate economic model of the country. He emphasized that the entrepreneurs should focus on the sectors having higher competitive advantage. Dhakal urged that domestic businesspersons should focus more on agriculture and hydroelectricity generation. <br />
	<br />
	“It will offer complete financial and investment solutions,” said Chairman of Arthik Abhiyan daily Madan Lamsal. The expo will focus on the promotion of investment opportunities and wealth protection strategies, he said. <br />
	<br />
	Speaking at the event, Kush Kumar Joshi, Chairman of Nepal Infrastructure Development Company Ltd, said that until and unless there is sufficient domestic investment, foreign investment cannot be expected. He urged collection of funds from the domestic sector for the infrastructure development of the country. He added that the basic prerequisite in inviting foreign investment is the development of the internal infrastructure. The expo is a unique businessnetworking event for the companies of financial sectors and their constituents. It provides investors a valuable opportunity to speak directly with the nation´s top financial experts related to trading and investment, banking, insurance, mutual funds, stocks, tax strategies, commodities and personal financial planning. <br />
	<br />
	The expo will have more than 122 stalls of different regulatory bodies, stock and commodity exchanges, banks and financial institutions, merchant bankers, investment companies, brokerage companies, remittance companies, insurance companies, depositors and clearing houses, portfolio management companies, financial knowledge management and training institutes, microfinance and cooperatives, traders and investors associations and clubs and financial domain technologies among others. Besides, various other events like seminars and speeches from financial experts, regulators, analyst and top investors, art exhibition and quiz contest, national and international currency show, trading and investment movie show will also be organized at the sidelines of the expo. <br />
	<br />
	<strong><br />
	The organizers are expecting a footfall of more than 300,000 at the event. </strong><br />
	<br />
	 </p>',
			'published' => true,
			'created' => '2012-08-16',
			'modified' => '0000-00-00',
			'keywords' => '',
			'description' => 'A three-day NDEX Money Expo 2012 will take place in the capital from August 31 to September 2. ‘Arthik Abhiyan’ daily and Jamb Technologies in association with Minds Nepal and Morningstar Investment Services are organizing the event.',
			'sortorder' => '595',
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	),
	(int) 13 => array(
		'Article' => array(
			'id' => '697',
			'article_category_id' => '34',
			'title' => 'Samsung Plaza Completes 10 Years',
			'sub_title' => '',
			'summary' => null,
			'content' => '<p>
	<br />
	<img alt="samsung plaza" border="1" height="264" hspace="5" src="http://newbusinessage.com/ckfinder/userfiles/Images/samsung(2).jpg" vspace="5" width="300" /><br />
	<br />
	<br />
	Samsung Plaza Durbar Marg has completed 10 years of its operations successfully. It is an exclusive brand outlet of Samsung AudioVisual (AV) and Home Appliances (HA) products of Him Electronics, the authorized distributor of Global No. 1 Consumer Electronics Brand in Nepal. According to Seema Golchha, Director of Samsung Plaza, “We feel immensely happy after the successful completion of 10 years of Samsung Plaza and would like to give this credit to all of our valued customers. <br />
	<br />
	<br />
	Samsung Plaza showcases and retails Samsung’s latest technology products including Audio Visual Products, Home Appliances and Samsung’s Camera. It is an outlet that sells Samsung Products to the customers and provides exclusive services like high value purchase, after sales services, purchase counselling, doorstep delivery and free installation. Along with Durbar Marg, Samsung Plaza has expanded its service in Civil Mall, New Baneshwor and Kumaripati throughout the period of 10 years. <br />
	<br />
	 </p>',
			'published' => true,
			'created' => '2012-08-16',
			'modified' => '0000-00-00',
			'keywords' => '',
			'description' => 'Samsung Plaza Durbar Marg has completed 10 years of its operations successfully. It is an exclusive brand outlet of Samsung AudioVisual (AV) and Home Appliances (HA) products of Him Electronics, the authorized distributor of Global No. 1 Consumer Electronics Brand in Nepal. According to Seema Golchha, Director of Samsung Plaza, “We feel immensely happy after the successful completion of 10 years of Samsung Plaza and would like to give this credit to all of our valued customers.',
			'sortorder' => '594',
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	(int) 14 => array(
		'Article' => array(
			'id' => '696',
			'article_category_id' => '34',
			'title' => 'Maximising Business Productivity',
			'sub_title' => '',
			'summary' => null,
			'content' => '<p>
	<img alt="maixmizing" border="1" height="269" hspace="5" src="http://newbusinessage.com/ckfinder/userfiles/Images/microsoft.jpg" vspace="5" width="500" /><br />
	<br />
	<br />
	Thakral One, the end-to-end business solution provider for emerging markets, and Microsoft Corp recently concluded an event titled ‘Maximising Business Productivity’. <br />
	<br />
	<br />
	The event, attended by senior executives from across industries, provided the platform to highlight the need for deploying user-friendly applications and optimized infrastructure for organisations looking at sustaining as well as growing in the current dynamic business environment. Director - Asia Pacific Region at Microsoft, Alexander Oddoz- Mazet, shared with the audience how an exponential evolution of technologies and infrastructure, done independently in most cases, is creating communication silos and hence, there is a necessity of streamlining communications within the business world. Unified communications and business productivity solutions from Microsoft provide the answers to challenges such as these. <br />
	<br />
	Nabin Joshi, AGM-Sales &amp; Marketing of Thakral One, said, “Microsoft SharePoint is a business collaboration platform offering for the enterprise which would enable portal, workflow, business intelligence, enterprise search and content management capabilities. While commenting on Microsoft Unified Communications as a way to reduce complexity by putting people at the centre of the communications experience, Deependra Raj Bajracharya, Partner Account Manager (Nepal) of Microsoft Bangladesh Limited, said, “The goal is to integrate all of the ways we contact each other in a single environment while providing businesses with the power to choose how they provision those services.”<br />
	<br />
	Describing Thakral One’s commitment to its clients and partnership with Microsoft, Arun Khatri, Manager – Business Development – Enterprise Solution at Thakral One, said, “We are delighted to work with Microsoft for extending unified communications and business productivity solutions to our clients.” He added, “Our focus on building local infrastructure and endto- end skill sets, along with the proven methodologies that the Microsoft- Thakral One partnership brings to the table, will enable our customers to innovate and adapt to dynamic market conditions.” <br />
	<br />
	<br />
	The conference also delved on topics like the importance of optimising infrastructure, assessing and streamlining processes and, maximising team interactions and productivity. The evening ended with an invitation to the attendees to participate in the Customer Immersion Experience (CIE) – A unique opportunity for organisations and their end-users to get a rich, handson interactive experience, in a true-tolife environment, unlike traditional product presentations or demos. <br />
	<br />
	 </p>',
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			'keywords' => '',
			'description' => 'The event, attended by senior executives from across industries, provided the platform to highlight the need for deploying user-friendly applications and optimized infrastructure for organisations looking at sustaining as well as growing in the current dynamic business environment. Director - Asia Pacific Region at Microsoft, Alexander Oddoz- Mazet, shared with the audience how an exponential evolution of technologies and infrastructure, done independently in most cases, is creating communication silos and hence, there is a necessity of streamlining communications within the business world. Unified communications and business productivity solutions from Microsoft provide the answers to challenges such as these.',
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FOREX

Currency	Unit	Buy	Sell
U.S. Dollar	1	121.23	121.83
European Euro	1	131.65	132.31
UK Pound Sterling	1	142.47	143.18
Swiss Franc	1	124.29	124.90
Australian Dollar	1	71.69	72.05
Canadian Dollar	1	83.90	84.32
Japanese Yen	10	10.94	11.00
Chinese Yuan	1	17.17	17.26
Saudi Arabian Riyal	1	32.27	32.43
UAE Dirham	1	33.01	33.17
Malaysian Ringgit	1	27.36	27.50
South Korean Won	100	9.77	9.82

Update: 2020-03-25 | Source: Nepal Rastra Bank (NRB)

Bullion

Fine Gold	1 tola	77000.00
Tejabi Gold	1 tola	76700.00
Silver	1 tola	720.00

Update : 2020-03-25

Source: Federation of Nepal Gold and Silver Dealers' Association

Petroleum

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