Are You Backed By SAP?

Nov 30, -0001 0 4 minutes 6 seconds to read

…

Poverty, Inequality And Growth-some Lessons

Nov 30, -0001 0 8 minutes 34 seconds to read

…

Developing Job Ownership: Key To Business Success

Nov 30, -0001 0 7 minutes 50 seconds to read

…

Feedback May 2011

Nov 30, -0001 1 4 minutes 29 seconds to read

…

Feedback April 2011

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CDS Charms Low; Stock Negative

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An Unassuming Rana

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Dr Supachai Panitchpakdi

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Truly Fighting Spirit

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The White Paper Hoax

Nov 30, -0001 0 3 minutes 23 seconds to read

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Manufacturing Production Index Increases

Nov 30, -0001 0 1 minutes 5 seconds to read

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Rs 1.5 Billion ADB Aid In Agriculture

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Digitised E-posters For Advertising

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Carpet Export Increases Despite Production Problems

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Banks Register Increase In Returns And Capital Fund

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No Laughing Matter

The Sweet Rewards of Power

By Madan Lamsal

. . .
read more »

NEPSE

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			'title' => 'Are You Backed By SAP?',
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			'content' => '<div style="margin-bottom: 0.0001pt; vertical-align: middle; text-align: justify;">
	<span style="font-size: 14.5pt;"><img align="left" alt="" border="1" height="225" hspace="10" src="http://newbusinessage.com/ckfinder/userfiles/Images/imm.jpg" style="width: 349px; height: 225px;margin:10px;padding:10px;" vspace="10" width="349" />S</span><span style="font-size: 9.5pt;">AP is an acronym for Systems, Applications and Products in data processing; and today, it is the world's largest business software company which delivers products and services that help to speed up business innovation for customers. When it comes to operating with the ultimate idea of uninterrupted and ever increasing performance in business, SAP is the perfect solution. </span></div>
<div style="margin-bottom: 0.0001pt; text-indent: 14.15pt; line-height: 11pt; vertical-align: middle; text-align: justify;">
	<br />
	<span style="font-size: 9.5pt;">SAP provides a single, integrated technology platform that supports industry-specific business processes through optional enhancement packages that enables to build on progress, without causing business disruptions. </span></div>
<div style="margin-bottom: 0.0001pt; text-indent: 14.15pt; line-height: 11pt; vertical-align: middle; text-align: justify;">
	<br />
	<span style="font-size: 9.5pt;">SAP solutions are efficient and this can be largely credited to SAP's impeccable architecture. It is built on state-of-the-art computing technologies based on the Business Framework architecture which is capable of processing huge volumes of information and supporting rapid decision-making. </span></div>
<div style="margin-bottom: 0.0001pt; text-indent: 14.15pt; line-height: 11pt; vertical-align: middle; text-align: justify;">
	<br />
	<br />
	<span style="font-size: 9.5pt;">There are a few things that distinctly mark SAP apart from other solutions in the market. The foremost is their service-oriented architecture (SOA) which speeds and simplifies the integration of SAP and non-SAP solutions. Therefore, SAP's implementation offers high levels of data integration as it ensures synchronisation of information between SAP and the underlying business execution systems. This open connectivity actually allows business components to interact with several business systems. </span></div>
<div style="margin-bottom: 0.0001pt; text-indent: 14.15pt; line-height: 11pt; vertical-align: middle; text-align: justify;">
	<br />
	<span style="font-size: 9.5pt;">Needless to say, with SAP, a company can gain meaningful, industry-specific, role-based insight into the business performance.</span><span style="font-size: 9.5pt;">Understanding its functionality requires recognising the working of its components. Building on existing SAP R/3 functionality, SAP includes functionality for advanced Business Consolidation and Business Information Collection, which links internal information with automated collection of relevant external information through the Internet. SAP also supports advanced Business Planning and Simulation, based on both internal and external information - allowing you to model risks and rewards, and more effectively manage future uncertainties. </span></div>
<div style="margin-bottom: 0.0001pt; text-indent: 14.15pt; line-height: 11pt; vertical-align: middle; text-align: justify;">
	<br />
	<span style="font-size: 9.5pt;">Furthermore, once you resort to SAP solutions, the Corporate Performance Monitor including the Management Cockpit is enhanced with industry-specific Key Performance Indicators (KPI) templates on the one hand while on the other, the Stakeholder Relationship Management component facilitates communication with investors and other important stakeholder groups. </span></div>
<div style="margin-bottom: 0.0001pt; text-indent: 14.15pt; line-height: 11pt; vertical-align: middle; text-align: justify;">
	<br />
	<span style="font-size: 9.5pt;">SAP unequivocally meets all your company's requirements and addresses all its prominent concerns.The implementation of SAP Enterprise Resource Planning (ERP) can lead to many benefits. Some evident gains are stated as follows:</span></div>
<div style="margin-bottom: 0.0001pt; text-indent: 14.15pt; line-height: 11pt; vertical-align: middle; text-align: justify;">
	<br />
	<span style="font-size: 9.5pt;">With SAP solutions, your enterprise shall run in accordance with strategy and plans, accessing the right information in real time to identify concerns early. SAP improves operational efficiency and productivity within and beyond your enterprise thus extending transactions, information, and collaboration functions to a broader business community.</span></div>
<div style="margin-bottom: 0.0001pt; text-indent: 14.15pt; line-height: 11pt; vertical-align: middle; text-align: justify;">
	<br />
	<span style="font-size: 9.5pt;">SAP helps you eliminate high integration costs and the need to purchase third-party software. It helps you leverage preset defaults and pre-packaged versions available for specific industries. It also links employees performance to compensation programmes such as variable pay plans and long-term incentives; and at the same time gives employees new ways to access the enterprise information required for their daily activities. </span></div>
<div style="margin-bottom: 0.0001pt; text-indent: 14.15pt; line-height: 11pt; vertical-align: middle; text-align: justify;">
	<br />
	<span style="font-size: 9.5pt;">To meet the business needs of the 21st century, every aspiring company needs the element that pulls it together and integrates it in such a proficient way that it is able to foresee all opportunities and identify every minuscule of apprehension to make proactive decisions. To ensure solid productivity in today's competitive market, every company needs to be in a position from where it can make the optimum use of all its existing resources. <br />
	<br />
	</span></div>
<div style="text-align: justify;">
	<span style="font-size: 9.5pt; line-height: 115%;">Using SAP means; being in a position to exactly do that. In brief terminologies, it means increasing profitability, improving financial control and reducing risks; thereby putting your company in the centre stage of a high yielding market.<br />
	<br />
	<br />
	</span></div>',
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			'content' => '<div style="margin-bottom: 0.0001pt; line-height: 120%; vertical-align: middle;">
	<span style="font-size:12px;"><i><span style="line-height: 120%;"><img align="left" alt="economy" border="1" height="129" hspace="5" src="http://newbusinessage.com/ckfinder/userfiles/Images/kamal raj.jpg" style="margin:10px;padding:10px;" vspace="5" width="100" />By Dr Kamal Raj Dhungel<br />
	<br />
	</span></i></span></div>
<div style="margin-bottom: 0.0001pt; text-align: justify; line-height: 11pt; vertical-align: middle;">
	<span style="font-size:12px;">The liberalisation policy in china is in effect since the end of 1970s. India has followed the same path since the beginning of 1990s. This resulted in tremendous progress, sustained growth and increased wealth in both China and India. Both the countries were characterised by mass poverty before the period of economic reform.&nbsp;Today, China has reduced the number of people under poverty to mere 2.8 per cent down from 64 per cent in 1981. Similar is the case of India. According to the government estimate, approximately 28 per cent of population is living below the poverty line down from 51 per cent in 1977/78. It reveals that people have tasted the fruits of economic progress resulting from economic reforms.&nbsp;</span></div>
<div style="margin-bottom: 0.0001pt; text-align: justify; line-height: 11pt; vertical-align: middle;">
	<span style="font-size:12px;"><br />
	<br />
	</span></div>
<div style="margin-bottom: 0.0001pt; text-align: justify; text-indent: 14.15pt; line-height: 11pt; vertical-align: middle;">
	<span style="font-size:12px;">Let's now look at the context of poverty reduction in China and India. The liberalisation of their economies have instigated tremendous progress, sustained growth and increased wealth with rapid industrialisation. They are achieving high economic growth rate above 9 per cent per annum. It has produced multiplier effect in their economies. They are investing their resources in the construction of infrastructure and establishment and promotion of basic industries. The private sector investment has been mushrooming. This has created sufficient employment opportunities within the country to the increased size of labour force. This provides opportunities to the poor people to improve their living condition and hence both countries have met the goal of poverty reduction in the same momentum though the degree and extent of it is different. Income, health and education of the people are gradually improving which results in the improvement of the human development index. Nepal's estimated incidence of poverty is at 30.9 per cent today down from 45 per cent in the mid 1990s. In terms of poverty reduction, al the three countries under consideration have the same trend over the same period of time. China and India have adequate reason to explain how poverty there has come down as they are achieving rapid economic growth rate.&nbsp;But in Nepal poverty has surprisingly come down when its economic growth rate is deteriorating. This makes the people doubt at the authenticity of the poverty reduction data. </span></div>
<div style="margin-bottom: 0.0001pt; text-align: justify; text-indent: 14.15pt; line-height: 11pt; vertical-align: middle;">
	<span style="font-size:12px;"><br />
	<br />
	</span></div>
<div style="margin-bottom: 0.0001pt; text-align: justify; text-indent: 14.15pt; line-height: 11pt; vertical-align: middle;">
	<span style="font-size:12px;">Nepal also has the same story of economic liberalisaiton but with different outcomes. Policy of liberalisation has been initiated since the middle of 1980s albeit it has been gaining momentum only after 1990. As an effect of this policy, a large number of public enterprises were dismantled in the name of privatisation. They had produced basic goods like shoes, sugar, agricultural tools, clothes and paper etc. In the past, these industries made a significant contribution in the economy in terms of consumption, income and employment. But today they have vanished. It means those industries whose management had been transferred to the private sector are not in operation currently.&nbsp;The demand of the goods produced by these industries is being fulfilled by imports. The numbers of persons employed in these industries have become unemployed.&nbsp;Some of them have either migrated to foreign countries in search of employment. Others have remained unemployed. There is no doubt that liberalisation can play an important role in economic development. It can attract, promote and encourage private sector investment, both foreign and domestic in the development of overall economy, particularly in the manufacturing sector.&nbsp;But the manner in which Nepal has been exercising economic policy reform seems clearly unsustainable and making gloomy environment for private investment.&nbsp;Instead, it encourages opening up a large number of cosy dance restaurants in different urban centres of Nepal through private sector investment.&nbsp;Similar is the case of investment of private sector in education and health as private schools, colleges and nursing homes including private hospitals are mushrooming. They provide service only to a small fraction of population who are wealthier.&nbsp;It creates discrimination among the citizens in terms of social service. Clearly, the nation has been producing two categories of future manpower: a superior workforce which graduates from private schools and an inferior one that graduates from public schools. Majority of students who graduate from private schools are migrating to developed countries. </span></div>
<div style="margin-bottom: 0.0001pt; text-align: justify; text-indent: 14.15pt; line-height: 11pt; vertical-align: middle;">
	<span style="font-size:12px;"><br />
	<br />
	</span></div>
<div style="margin-bottom: 0.0001pt; text-align: justify; text-indent: 14.15pt; line-height: 11pt; vertical-align: middle;">
	<span style="font-size:12px;"><img align="left" alt="Real GDP growth rate during 2006-10" border="1" height="197" hspace="5" src="http://newbusinessage.com/ckfinder/userfiles/Images/groth rate.jpg" style="width: 318px; height: 197px;margin:10px;padding:10px;" vspace="5" width="318" />The failure of economic policy particularly after 1990 is reflected in the overall progress of the Nepali economy. In the initial stages of liberalisation, the growth rate of Nepali economy was encouraging to some extent. But it became disappointing gradually. The trend of Nepal's economic growth rate is not only disappointing but also humiliating (see chart ). The fruit of this growth did not reach people who were the main pillars in restoring democracy in 1990 and beyond. It means the distribution of national income among its citizens has been skewed.&nbsp;Since the decade of 1990s, corruption has become rampant. Anti-corruption mechanisms have been made ineffective. The living standard of the richest 10 per cent has been increasing over the years while that of the rest is deteriorating.<br />
	<br />
	<br />
	</span></div>
<div style="margin-bottom: 0.0001pt; text-align: justify; text-indent: 14.15pt; line-height: 11pt; vertical-align: middle;">
	<span style="font-size:12px;">&nbsp;The present economic growth rate, as seen in the chart, is declining over the years. It is barely enough to feed the population which is growing at the rate of 2.24 per cent per year. For the mass of people, hunger is routine, malnutrition rife, employment insecure, social security non-existent, health care expensive and livelihoods under threat. Youths are migrating to foreign countries and are supposed to send remittance by putting their lives at risk. As expected, remittance plays a vital role in providing livelihood to the people of Nepal. This is also giving an opportunity to the elite of Nepal to set up large number of banking businesses. But its contribution to economic growth seems insignificant. Today, Nepali people are experiencing banking business next door to their residence.&nbsp;It indicates that the growth of monetary sector (particularly of the institutions dealing with money) in recent years have been increasing while the growth rate of real sector is declining.&nbsp;It seems there is a weak association between the growth of monetary and real sectors. Practically speaking, for a healthy and balanced economic development, there should be a strong correlation between them. In addition, private sector investment has been growing in the construction of large apartments and residential buildings and opening up of departmental stores. This provides a major market for investment by the banks. This shows that the current trend of economic activities in which the investments are pouring is not sustainable.&nbsp;These activities would sustain for a longer period only when the country achieves high economic growth.</span></div>
<div style="margin-bottom: 0.0001pt; text-align: justify; text-indent: 14.15pt; line-height: 11pt; vertical-align: middle;">
	<span style="font-size:12px;"><br />
	<br />
	</span></div>
<div style="margin-bottom: 0.0001pt; text-align: justify; text-indent: 14.15pt; line-height: 11pt; vertical-align: middle;">
	<span style="font-size:12px;">The ways in which our national income has been distributed irrespective of its shape and size among the citizens stands to cause devastating consequences. It can create social tensions and make the rich even richer. The unjust distribution of the fruits of democracy during 1990s has left us a great liability whose effect of course had been spreading all over the country. The nation has already lost over 13,000 lives. Despite such a huge loss of lives, the inequality today is still rising. The income gap between the rich and poor is more intense.&nbsp;Gini index with value between 0 and 1 (0 for perfect equality and 1 for perfect inequality) is used to measure the inequality in the distribution of income and wealth. At present, Nepal's Gini index a gauge of income gap, is 0.47. This index of 0.4 percent is considered a warning line Exceeding this mark signifies that the biggest part of the wealth cake is enjoyed by a minority. If the Gini index points below 0.2, income distribution is highly balanced, between 0.2 and 0.3 is a relatively balanced distribution, 0.4 and 0.5 means that the distribution is being largely spread &nbsp;and if it reaches 0.5, then, distribution is highly unbalanced. Nepalâ€™s Gini index is nearly 0.5 and it means the biggest part of the nation's income goes to only a few. It is because of the lack of equal access to opportunities. Opportunities inside the country are rare. Whatever opportunities are thesre inside the country, they are available only to those who are related with the powerful. Opening up the opportunities in most public sectors like police, military and civil service are not going to help as even such opportunities open other avenues for the powerful people for corruption. It indicates that the powerful and influential persons have hijacked opportunities, benefits, public spaces, shared resources, economic rights and political processes.<br />
	<br />
	<br />
	</span></div>
<div>
	<span style="font-size:12px;"><i><span style="line-height: 115%;">(Dr Dhungel is a Professor of Economics at Tribhuvan University, Kathmandu. He can be reached via email at </span></i><a href="mailto:kamal.raj.dhungel@gmail.com"><i><span style="line-height: 115%;">kamal.raj.dhungel@gmail.com</span></i></a><i><span style="line-height: 115%;">)</span><br />
	</i></span></div>
<div>
	<span style="font-size:12px;"><i>&nbsp;</i></span></div>',
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			'article_category_id' => '38',
			'title' => 'Developing Job Ownership: Key To Business Success',
			'sub_title' => '',
			'summary' => null,
			'content' => '<div style="margin-bottom: 0.0001pt; line-height: 120%; vertical-align: middle;">
	<i><span style="font-size: 8pt; line-height: 120%;"><img align="left" alt="" border="2" hspace="2" src="http://newbusinessage.com/ckfinder/userfiles/Images/rabindra karna.jpg" style="width: 98px; height: 130px;" vspace="1" />By Dr Rabindra Karna</span></i></div>
<div style="margin-bottom: 0.0001pt; text-align: justify; line-height: 11pt; vertical-align: middle;">
	<span style="font-size: 9.5pt;">Most people want to feel proud about their work and feel better for having performed to the satisfaction of business needs. While accepting assignments, projects or jobs they do so with with the sense of ownership. These are really professional people. They deal with others with a clear understanding of interdependence and give due consideration and respect to other departments, sections or functions.</span></div>
<div style="margin-bottom: 0.0001pt; text-align: justify; line-height: 11pt; vertical-align: middle;">
	Â </div>
<div style="margin-bottom: 0.0001pt; text-align: justify; text-indent: 14.15pt; line-height: 11pt; vertical-align: middle;">
	<span style="font-size: 9.5pt;">Job ownership by an employee plays crucial role for business success in todayâ€™s competitive global market. Businesses need continued progress in product development. Unless the people take this responsibility of product development with the sense of ownership, they will not put into it their full knowledge and experience and efforts. As a result, competitive advantage benefits will keep missing for all stake holders: the employee, the company, the customers and the investors. </span></div>
<div style="margin-bottom: 0.0001pt; text-align: justify; text-indent: 14.15pt; line-height: 11pt; vertical-align: middle;">
	Â </div>
<div style="margin-bottom: 0.0001pt; text-align: justify; text-indent: 14.15pt; line-height: 11pt; vertical-align: middle;">
	<span style="font-size: 9.5pt;">Anything consistently continued for a longer period will certainly convert into guaranteed success. Though many management scientists argue that â€™success in the life is not difficult to achieveâ€™, continuous move towards the destination is essential to achieve success. Money has never been the highest motivating factor for human resources at a work place. The most common motivators are security, work-life balance, efficiency, learning opportunity and recognition against efforts one puts for business success. </span></div>
<div style="margin-bottom: 0.0001pt; text-align: justify; text-indent: 14.15pt; line-height: 11pt; vertical-align: middle;">
	Â </div>
<div style="margin-bottom: 0.0001pt; text-align: justify; text-indent: 14.15pt; line-height: 11pt; vertical-align: middle;">
	<span style="font-size: 9.5pt;">Simultaneously, the most acknowledged motivator for business owners or investors is emotional attachment. Success and failure are mostly immaterial for them because failure is considered the only way to learn, in business. The challenge for them is not the knowledge but the work ethics, values and consistency to get results. This is called ownership mentality and the same applies for employees with job ownership attitude. </span></div>
<div style="margin-bottom: 0.0001pt; text-align: justify; text-indent: 14.15pt; line-height: 11pt; vertical-align: middle;">
	Â </div>
<div style="margin-bottom: 0.0001pt; text-align: justify; text-indent: 14.15pt; line-height: 11pt; vertical-align: middle;">
	<span style="font-size: 9.5pt;"><img align="left" alt="" border="2" hspace="2" src="http://newbusinessage.com/ckfinder/userfiles/Images/key.jpg" style="width: 238px; height: 340px;" vspace="1" />During recruitment phase, interviews are mostly centred on prospective and anticipated relationships. The standard contract is imposed on the employee as soon as an agreement is reached. However, it mostly escapes â€™detailing position and job profileâ€™. The fact remains that the actual rights and duties of employees emerge through interpersonal relationships built at the workplace during the course of working together. Hence, psychological contract becomes eminent to match one anotherâ€™s expectations contributing to higher level of performance and satisfaction. As long as common understanding and agreement in respect to the business mission, values, loyalty and respect exists between an employee and the employer, trust and commitment remain ensured. The relationship, if managed efficiently and effectively, will tie a stronger knot of mutual trust between the employer and employee matching the objectives and commitments necessary for business prosperity. In case it turns negative, it may result in disenchantment, de-motivation and resentfulness of authoritarianism within the organisation resulting in inefficient work, internal units not corresponding to the mission and objectives of the organisation and much more.</span></div>
<div style="margin-bottom: 0.0001pt; text-align: justify; text-indent: 14.15pt; line-height: 11pt; vertical-align: middle;">
	Â </div>
<div style="margin-bottom: 0.0001pt; text-align: justify; line-height: 11pt; vertical-align: middle;">
	<b><span style="font-size: 9.5pt;">The words â€™employeesâ€™ or â€™Staffâ€™, to the extent of psychological contract, signify:</span></b></div>
<div style="margin: 0in 0in 0.0001pt 9pt; text-align: justify; text-indent: -9pt; line-height: 11pt; vertical-align: middle;">
	<span style="font-size: 9pt; color: black;">&nbsp;</span><span style="font-size: 9pt;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Employersâ€™ behaviour and dealing with employees</span></div>
<div style="margin: 0in 0in 0.0001pt 9pt; text-align: justify; text-indent: -9pt; line-height: 11pt; vertical-align: middle;">
	<span style="font-size: 9pt;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Employeesâ€™ input to the job they are entrusted or hired for</span></div>
<div style="margin-bottom: 0.0001pt; text-align: justify; text-indent: 14.15pt; line-height: 11pt; vertical-align: middle;">
	<span style="font-size: 9.5pt;">Respect, trust, fairness and objectivity are equally important in a job because job holders like these are essential for a civilised society in general. From a wider perspective, these become complex and significant at workplace and especially in management practices mainly towards â€™change managementâ€™.</span></div>
<div style="margin-bottom: 0.0001pt; text-align: justify; text-indent: 14.15pt; line-height: 11pt; vertical-align: middle;">
	Â </div>
<div style="margin-bottom: 0.0001pt; text-align: justify; text-indent: 14.15pt; line-height: 11pt; vertical-align: middle;">
	<span style="font-size: 9.5pt;">The employer and employee relationship has grown in complexity with the emergence or growth of globalised skills market allowing very high mobility of people resources. Leadership is basically seen as representing the organisation and that reflects the aim and purposes of the organisation owners. Leadership in this context refers to the top management associates like Business Head, CEO etc.&nbsp;The nature of the relationship in transactional analysis is different to one that is limited to employee and employer. However, itâ€™s significant in terms of agreeing on mutual transparent expectations. Further, the management and organisational principles heavily depend on fair and balanced understandings between the employer and employee. </span></div>
<div style="margin-bottom: 0.0001pt; text-align: justify; text-indent: 14.15pt; line-height: 11pt; vertical-align: middle;">
	Â </div>
<div style="margin-bottom: 0.0001pt; text-align: justify; text-indent: 14.15pt; line-height: 11pt; vertical-align: middle;">
	<span style="font-size: 9.5pt;">Peopleâ€™s lives have become more varied, informed and better placed in recent days with the achievement of rapid growth by many economies. Human capital around the globe is equipped more with high awareness and hence, it not only wants more but also deserves more. Therefore, the employees naturally expect greater fulfilment in return for their services or association. The work itself has become far more richly diverse and complicated than ever before. </span></div>
<div style="margin-bottom: 0.0001pt; text-align: justify; text-indent: 14.15pt; line-height: 11pt; vertical-align: middle;">
	Â </div>
<div style="margin-bottom: 0.0001pt; text-align: justify; text-indent: 14.15pt; line-height: 11pt; vertical-align: middle;">
	<span style="font-size: 9.5pt;">There is an increased excitement in the work place these days. The excitement is because of the application of different business model named â€™employee ownershipâ€™ in corporations and cooperatives wherein employees and potentially the customers own the organisation and can therefore represent management mechanism. We see and experience glimpses here possibly as to how organisations might be run more fairly and sustainably in days to come. Globalisation and technology in recent days have shifted everything we knew in relation to organised work onto a totally different level in terms of complexity, rate of change, connectivity and the mobility of human resources and activities.</span></div>
<div style="margin-bottom: 0.0001pt; text-align: justify; text-indent: 14.15pt; line-height: 11pt; vertical-align: middle;">
	Â </div>
<div style="margin-bottom: 0.0001pt; text-align: justify; text-indent: 14.15pt; line-height: 11pt; vertical-align: middle;">
	<span style="font-size: 9.5pt;">Thus, if organisations truly want to make innovations, creating and encouraging job ownership is the key. This ownership is the investment from both the company (funding, balanced work culture) and the employee (time, knowledge, commitment) by allowing and generating acceptance as well as securing achievement towards personal responsibility for products, processes and different stakeholders involved with the organisation. Job ownership reflects business understanding in view of culture, goal, and customers etc facilitating interactions with various elements widely known as interpersonal skills. It forces people to display a selfless attitude ensuring and delivering not only acceptable but better, improved and acknowledgeable productivity.</span></div>
<div style="margin-bottom: 0.0001pt; text-align: justify; text-indent: 14.15pt; line-height: 11pt; vertical-align: middle;">
	Â </div>
<div style="margin-bottom: 0.0001pt; text-align: justify; text-indent: 14.15pt; line-height: 11pt; vertical-align: middle;">
	<span style="font-size: 9.5pt;">Getting people to think and act like owners has never been easy and hence, if employees accept and take up jobs considering themselves as owners, it must be considered a great achievement. Employees are motivated further in view of sustainability onto business expectations. Involving employees in decision making requires entrepreneurs to seek input from employees and must listen to them.&nbsp;The solution really lies in making them part of decision making. </span></div>
<div style="margin-bottom: 0.0001pt; text-align: justify; text-indent: 14.15pt; line-height: 11pt; vertical-align: middle;">
	Â </div>
<div style="margin-bottom: 0.0001pt; text-align: justify; text-indent: 14.15pt; line-height: 11pt; vertical-align: middle;">
	<span style="font-size: 9.5pt;">Ultimately, itâ€™s all about people and taking care of people resources for better productivity in terms of business sustainability. Promoting job ownership and acceptance in the true sense will certainly guarantee the realisation of organisational mission, goal and objectives. </span></div>
<div>
	<i><span style="font-size: 9.5pt; line-height: 115%;">(Dr Karna is the Executive Chairman of MARK Business Solutions Pvt Ltd and Ad Abhyas Marketing &amp; Communications Pvt Ltd. The article is based on various research reports and his practical experiences as management practitioner.)</span></i></div>',
			'published' => true,
			'created' => '2011-05-31',
			'modified' => '2011-06-03',
			'keywords' => '',
			'description' => 'Most people want to feel proud about their work and feel better for having performed to the satisfaction of business needs.',
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			'title' => 'Feedback May 2011',
			'sub_title' => '',
			'summary' => null,
			'content' => '<div style="margin-bottom: 0.0001pt; text-align: justify; line-height: 11pt; vertical-align: middle;">
	<span style="font-size:12px;"><strong>Federalism Is In <br />
	</strong><br />
	<br />
	<img align="left" alt="" border="1" height="299" hspace="5" src="http://newbusinessage.com/ckfinder/userfiles/Images/cover story.jpg" style="width: 227px; height: 299px;margin:10px;padding:10px;" vspace="5" width="227" /><br />
	Federalism is of prime importance given the current political circumstances. Unfortunately, we don;t hear about it being debated or discussed at the policy making level by the people who matter the esteemed law makers of the country. Therefore, it was good to have it covered as the cover story in the April issue of New Business Age which shed light on the fiscal face of federalism in Nepal.<br />
	<br />
	<br />
	</span></div>
<div style="margin-bottom: 0.0001pt; text-align: justify; text-indent: 14.15pt; line-height: 11pt; vertical-align: middle;">
	<span style="font-size:12px;">The politicians till now used federalism to their advantage by manipulating the ethnic sentiments of the countrymen. The federalism that would really give people the fruit of prosperity, rights and recognition is not even pronounced by the law makers. They are busy playing the political musical chair. The fiscal aspect of federalism needs a thorough discussion at the policy making level. The new constitution that is going to be promulgated sooner or later needs to incorporate federalism as the country has already been pronounced a federal republic. <br />
	<br />
	</span></div>
<div style="margin-bottom: 0.0001pt; text-align: justify; text-indent: 14.15pt; line-height: 11pt; vertical-align: middle;">
	<span style="font-size:12px;"><br />
	</span></div>
<div style="margin-bottom: 0.0001pt; text-align: justify; text-indent: 14.15pt; line-height: 11pt; vertical-align: middle;">
	<span style="font-size:12px;">Until now, federalism has not become more than an emotional bait to win the sentiments of different communities that have fallen back in the race of mainstreaming. The devolution of states based on ethnicity is the example of that principle. The ethnicity-based federalism is a slogan raised by political parties for cheap popularity. In the end, it is not going to meet the expectations of the ethnic communities. Experts opine that ethnic federalism is a suicidal approach.</span></div>
<div style="margin-bottom: 0.0001pt; text-align: justify; text-indent: 14.15pt; line-height: 11pt; vertical-align: middle;">
	<span style="font-size:12px;"><br />
	<br />
	</span></div>
<div style="margin-bottom: 0.0001pt; text-align: justify; text-indent: 14.15pt; line-height: 11pt; vertical-align: middle;">
	<span style="font-size:12px;">Overall development must be an agenda and the major goal of federalism. Economic base is something that cannot be taken lightly while devolving the states. The map should be sketched in a manner that would equally and justly divide resources among states to guarantee the autonomy of the state nations. Lawmakers should not delay discussing such important aspects.</span></div>
<div style="margin-bottom: 0.0001pt; text-align: justify; text-indent: 14.15pt; line-height: 11pt; vertical-align: middle;">
	<span style="font-size:12px;"><br />
	<br />
	</span></div>
<div style="text-align: justify;">
	<span style="font-size:12px;"><span style="line-height: 115%;">The world has witnessed the failure of many nation states. We cannot be assured that, as a country, we are going to be an exception. We must look to divide states in a way that they can sustain on their own and meet their economic needs. Otherwise, we may be left to blame ourselves for the failure of federalism that we hold high expectations from. Lawmakers should now concentrate on the country's development rather than spending their time and energy to save their jobs as Constituent Assembly Member by indefinitely extending it without an end result.<br />
	<br />
	</span></span></div>
<div style="margin-bottom: 0.0001pt; text-align: justify; line-height: 11pt; vertical-align: middle;">
	<span style="font-size:12px;"><b>- Bibash Aryal</b></span><br />
	Paknajole, Kathmandu<br />
	 </div>
<div style="text-align: justify;">
	<p style="text-align: center;">
		<span style="font-size:12px;"><b><span style="line-height: 115%;"><br />
		<br />
		---------------------------------------------------------------------------------------------------------------<br />
		<br />
		<br />
		<br />
		</span></b></span></p>
	<div style="text-indent: 0in; text-align: justify;">
		<span style="font-size:12px;"><span style="color: rgb(0, 0, 0);"><strong>The Divided Business Community</strong><br />
		<br />
		The Biztoon in your New Business Age's April issue caught my attention. It raised a question as to who actually represents the business community. The business community in Nepal is responsible for creating jobs for thousands. The contribution to the economy made by the private sector is definitely praiseworthy. It currently lacks a favourable investment climate. The aspiring and emerging entrepreneurs can do wonders if the business leadership can lead the community competitively. Some industrialists have become parliament members in the hope of representing the business fraternity only to get entangled in world of messy politics themselves. In this regard, the umbrella association of the business community, FNCCI, must set an example and lead the community to unprecedented economic development. It's a relief that the FNCCI elections are over. I hope that no two (or are there more?) panels exist now and the elected executive committee will work for a common agenda.<br />
		<br />
		</span></span></div>
	<div style="margin-bottom: 0.0001pt; text-align: justify; line-height: 11pt; vertical-align: middle;">
		<span style="font-size:12px;"><span style="color: rgb(0, 0, 0);"><b>- Basanta Sharma</b></span></span></div>
	<div style="text-align: justify;">
		<span style="font-size:12px;"><span style="color: rgb(0, 0, 0);"><b><span style="line-height: 115%;">New Road<br />
		<br />
		<br />
		</span></b></span></span></div>
	<p style="text-align: center;">
		 </p>
	<p style="text-align: center;">
		<span style="font-size:12px;"><b><span style="line-height: 115%;">---------------------------------------------------------------------------------------------------------------</span></b></span><br />
		<span style="font-size:12px;"> <br />
		<br />
		<br />
		<b><span style="line-height: 115%;"> <br />
		</span></b></span></p>
</div>',
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			'description' => 'Federalism is of prime importance given the current political circumstances. Unfortunately, we don't hear about it being debated or discussed at the policy making level by the people who matter the esteemed law makers of the country.',
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			'title' => 'Feedback April 2011',
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			'content' => '<p>
	<strong>Make The Most Of The Sun</strong></p>
<div style="text-align: justify;">
	<p class="MsoNormal" style="margin-bottom: 0.0001pt; text-align: justify; text-indent: 14.15pt; line-height: 11pt; vertical-align: middle;">
		<span style="font-size: 12px;"><span style="font-family: "><br />
		I</span><span style="">n Nepal, we are fortunate to have sunshine round the year. Rajan Pradhan in his article, Producing Energy, the Solar Way in the March issue of New Business Age has written that Nepal has the potential of producing 26,000 Mega Watts of solar energy. Going by this account, we are rich in this alternate source of power besides the usual and much promised hydropower.<br />
		<br />
		</span></span></p>
	<p class="MsoNormal" style="margin-bottom: 0.0001pt; text-align: justify; text-indent: 14.15pt; line-height: 11pt; vertical-align: middle;">
		<span style="font-size: 12px;"><span style="font-family: ">Though we have resources, we are people who are forced to spend our lives in darkness, for most part of the day and night. Power cut reaching up to 18 hours a day is a pathetic state-of-affairs, to say the least. It seems we are training ourselves to live without electricity. Since the successive governments have failed oh-so-miserably in providing a solution, the time has come for us people to take the matter in our own hands and start generating power ourselves. <br />
		<br />
		</span></span></p>
	<p class="MsoNormal" style="margin-bottom: 0.0001pt; text-align: justify; text-indent: 14.15pt; line-height: 11pt; vertical-align: middle;">
		<span style="font-size: 12px;"><span style="font-family: ">Business houses and industries have started doing so. Most of the households too have made their arrangement of UPS or invertors. However, very few have thought about installing solar power. As Pradhan observes it could be due to the high EMI on loan. Though it might seem expensive for first time installation, it is relatively cheaper over the long term. Solar panel can meet daily power needs and save on outrageous monthly electricity bills. I personally have seen this in villages where households have installed solar panels before electrification reached them. Despite electricity authority reaching them now, they refuse to subscribe to conventional power as they are happy with their existing arrangement. The solar electricity produced in households can even be supplied to the national grid like in the European countries if adequate provisions can be made. <br />
		<br />
		</span></span></p>
	<p class="MsoNormal" style="text-align: justify;">
		<span style="font-size: 12px;"><span style="line-height: 115%; font-family: ">The government must think about providing subsidies and soft loans and introduce special schemes to those who want to use the alternative energy which is also eco friendly and easily available. Either the government must end the power crisis immediately or help people install the solar option.</span></span></p>
	<p style="text-align: justify;">
		 </p>
	<p class="MsoNormal" style="margin-bottom: 0.0001pt; text-align: justify; line-height: 11pt; vertical-align: middle;">
		<span style="font-size: 12px;"><b><span style="font-family: ">- Surya Chapagain</span></b></span></p>
	<p class="MsoNormal" style="text-align: justify;">
		<span style="font-size: 12px;"><b><span style="line-height: 115%; font-family: ">Satdobato</span></b></span></p>
	<p class="MsoNormal" style="text-align: center;">
		 </p>
	<p class="MsoNormal" style="text-align: center;">
		<span style="font-size: 12px;"><b>----------------------------------------------------------------------------------------------------------------------------------------------------------------------------</b></span><span style="font-size: 16px;"><strong><span style="line-height: 115%; font-family: "> <br />
		</span></strong></span></p>
	<p style="text-align: center;">
		 </p>
	<p class="BODYTEXT" style="text-align: justify; text-indent: 0in;">
		<span style="font-size: 16px;"><strong><span style="font-family: ">Stop Terrorising Businesses<br />
		<br />
		</span></strong></span></p>
	<p class="BODYTEXT" style="text-indent: 0in; text-align: justify;">
		<span style="font-size: 12px;"><span style="color: rgb(182, 21, 31);">N</span>epal is experiencing a slow pace of economic growth and even slower industrialisation. The power woes and unstable political environment are impeding the countryâ€™s growth. Business houses always emphasise that stable political situation and lasting peace and security are imperative for industrialisation. An investment friendly environment cannot be created without a stable socio political environment. <br />
		<br />
		</span></p>
	<p class="BODYTEXT" style="text-align: justify;">
		<span style="font-size: 12px;">In the last week of March, we have seen fresh cases of impunity in the Terai where most industries are located. Such incidences would affect businesses and investor psychology about the future.&nbsp; This would further derail the process of economic growth.&nbsp; Such activities are adding pressure to the already existing troubles. The concerned groups must start thinking about the nation and economic prosperity. Everybody needs to understand that without the development of industries and private sector, Nepal cannot tread on the path of sustainable growth and development.</span></p>
	<p style="text-align: justify;">
		 </p>
	<p class="MsoNormal" style="margin-bottom: 0.0001pt; text-align: justify; line-height: 11pt; vertical-align: middle;">
		<span style="font-size: 12px;"><b><span style="font-family: ">- Narayan Prasad Adhikari</span></b></span></p>
	<p class="MsoNormal" style="text-align: justify;">
		<span style="font-size: 12px;"><b><span style="line-height: 115%; font-family: ">Chitwan</span></b></span></p>
	<p style="text-align: center;">
		 </p>
	<p class="MsoNormal" style="text-align: center;">
		<span style="font-size: 12px;"><b>----------------------------------------------------------------------------------------------------------------------------------------------------------------------------</b></span></p>
	<p class="MsoNormal" style="text-align: justify;">
		<span style="font-size: 12px;"><b><span style="line-height: 115%; font-family: "><br />
		</span></b></span></p>
	<p style="text-align: justify;">
		 </p>
	<p class="BODYTEXT" style="text-align: justify; text-indent: 0in;">
		<span style="font-size: 16px;"><strong><span style="font-family: ">Banks Must Get More Responsible</span></strong></span></p>
	<p class="BODYTEXT" style="text-indent: 0in; text-align: justify;">
		<span style="font-size: 12px;"><span style="color: rgb(182, 21, 31); letter-spacing: -0.1pt;">T</span><span style="letter-spacing: -0.1pt;">he cover story on banking industry in your March issue portrayed a detailed picture of this sector. The growth of the banking and financial institutions is a good thing but their limited reach to the rural areas is a worrisome attribute. <br />
		</span></span></p>
	<p class="BODYTEXT" style="text-align: justify;">
		<span style="font-size: 12px;"><span style="letter-spacing: -0.1pt;">Time and again, there are issues of banks and finance companies failure. Recent examples include Samjhana Finance and Gurkha Development Bank. Some might say this is bound to happen given the crowd of 272 banks and financial institutions. But this is not something that cannot be controlled. The closure or failure of a bank is not comparable to the closure of a retail shop on a street corner. A financial institution's closure leaves a huge crater on the entire economy. <br />
		</span></span></p>
	<p class="BODYTEXT" style="text-align: justify;">
		<span style="font-size: 12px;"><span style="letter-spacing: -0.1pt;">&nbsp;The story rightly point out that this is a well regulated sector. However, despite such regulation and strong monitoring by the Nepal Rastra Bank, incidences of failure occur time and again. Such incidents repeating amidst central bank regulations are rather unfortunate. Most of the time, failure of corporate governance has resulted into such mishaps. Probably, some of the banks owners or the management teams do not take their institutions and the depositors seriously enough. In some cases, they themselves manage to lead the company on the verge of collapse. <br />
		</span></span></p>
	<p class="BODYTEXT" style="text-align: justify;">
		<span style="font-size: 12px;"><span style="letter-spacing: -0.1pt;">They take huge amount of loans behind the scene which later proves to be non performing loans or show investment in areas that does not give any returns. Such practices bear the potential to eventually lead the company towards bankruptcy. In the bargain, it's the depositors in particular and the economy in general which stands to suffer. The report shows Rs 15 billion as the negative net worth of just two banks. This is a ticking time bomb that may explode any time. <br />
		</span></span></p>
	<p class="BODYTEXT" style="text-align: justify;">
		<span style="font-size: 12px;"><span style="letter-spacing: -0.1pt;">So, the regulations may not prove to be successful every time. Companies must maintain self- discipline, good corporate governance and realise the importance of their respective financial institutions. They must not forget theirs is not a business house only. There is tremendous responsibility on their shoulders that they must fulfill.</span></span></p>
	<p style="text-align: justify;">
		 </p>
	<p class="MsoNormal" style="margin-bottom: 0.0001pt; text-align: justify; line-height: 11pt; vertical-align: middle;">
		<span style="font-size: 12px;"><b><span style="font-family: ">- Samiksha Budhathoki</span></b></span></p>
	<p class="MsoNormal" style="text-align: justify;">
		<span style="font-size: 12px;"><b><span style="line-height: 115%; font-family: ">Gairigaun, Kathmandu</span></b></span></p>
	<p style="text-align: justify;">
		 </p>
	<br />
	<span style="font-size:12px;"><b> <br />
	</b></span></div>',
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			'id' => '299',
			'article_category_id' => '42',
			'title' => 'CDS Charms Low; Stock Negative',
			'sub_title' => '',
			'summary' => null,
			'content' => '<div style="margin-bottom: 0.0001pt; line-height: 120%; vertical-align: middle; text-align: justify;">
	<i><span style="font-size: 8pt; line-height: 120%;"><img align="left" alt="stocktaking" border="1" height="127" hspace="5" src="http://newbusinessage.com/ckfinder/userfiles/Images/bikram.jpg" style="width: 105px; height: 127px;margin:10px;padding:10px;" vspace="5" width="105" />By Bikram Chitrakar</span></i></div>
<div style="text-align: justify;">
	<br />
	 </div>
<div style="text-indent: 0in; text-align: justify;">
	<span style="font-size: 14px;">T</span><span style="font-size: 8pt;">he Nepali share market had a lacklustre performance also in the month during March 20-April 19 despite the inauguration of eagerly awaited Central Depository System and Clearing Ltd. Also the prospect of good third quarter financial results did not help the market sentiment. The benchmark NEPSE index dropped 15.16 points or 4.16% to settle at 364.3 points. The session's highest was on 21 March with 379.46 while the session's lowest was on 29 March with 358.04.<br />
	<br />
	<br />
	</span></div>
<div style="text-align: justify;">
	<span style="font-size: 8pt; letter-spacing: -0.05pt;">Central Depository System (CDS) and Clearing Ltd was formally inaugurated on 31 March, 2011 which was keenly expected by the investors of Nepal. Despite its opening, the market could not take off as investors were more worried about the scenario after the May 28 deadline for promulgation of the countryâ€™s new constitution lapses. </span></div>
<div style="text-align: justify;">
	<br />
	 </div>
<div style="text-align: justify;">
	<span style="font-size: 8pt;">The automated system of CDS will facilitate speedy and safe clearing and settlement of transactions. The safety and security of the digital holding of shares will eliminate fraud and misuse of share certificates while the flow of shares will increase in the market due to instant transfer. One reaction of the market to the new development is that heavy volume of scrip was traded through matching , particularly towards the first half of April. The trade volume during the period was higher than the average despite the index closing at a lower level. The increased cases of matching during this period is explained by the fact that matching is going to be difficult under the CDS system. Therefore, the investors who had bought shares in the IPOs under fictitious names were transferring such shares on their real names and in doing so they pressed the prices lower to reduce the capital gains tax.&nbsp;</span></div>
<div style="text-align: justify;">
	<br />
	 </div>
<div style="text-align: justify;">
	<span style="font-size: 8pt; letter-spacing: -0.1pt;">Securities Board of Nepal (SEBON) organised an interaction programme during the month about the regulation it has drafted to allow setting up credit rating agencies in Nepal. This draft now needs to be approved by the Ministry of Finance beofre they can go for implementation. After the establishment of these agencies, the issues (IPO, rights) exceeding Rs. 100 million size will have to be rated by such agencies before they are floated to the public. </span></div>
<div style="text-align: justify;">
	<br />
	 </div>
<div style="text-align: justify;">
	<br />
	 </div>
<div style="text-align: justify;">
	<strong><span style="font-size: 8pt;">Performance by Sector<br />
	<br />
	<br />
	</span></strong></div>
<div style="text-align: justify;">
	<span style="font-size: 8pt; letter-spacing: -0.05pt;">Commercial banking sector that accounts for the highest volume of trade in the exchange lost 27.73 points or 9.01% to settle at 307.73. Manufacturing and processing sector dropped 25.54 points to 500.59. to close at 434.83 and 312.1 respectively. Insurance sub-indices lost 17.30 points to settle at 448.83 while finance sector plummets 5.70 points or 1.83% to close at 310.91. However, the hydropower sector gained 71.22 points or 9.80% to settle at 726.97. </span></div>
<div style="text-align: justify;">
	<br />
	 </div>
<div style="text-align: justify;">
	<span style="font-size: 8pt;">A total of Rs 492,513,784 was realised during the review period from 1,985,844 units of share trade via 30,739 transactions.</span></div>
<div style="text-align: justify;">
	<br />
	 </div>
<div style="text-align: justify;">
	<span style="font-size: 8pt;">The accompanying figure shows sector-wise distribution based on the total amount of trades. The commercial banks accounted for 44.20% whereas the insurance sector constituted 16.35% which is more than that of the finance companies which stood at 14.80%. Similarly, the development banks hold 13.80% while rest of the sectors covered the remaining portion of the trade.</span></div>
<div style="text-align: justify;">
	<br />
	 </div>
<div style="text-align: justify;">
	<span style="font-size: 8pt; letter-spacing: -0.15pt;">Technically, the Simple Moving Average (SMA) is dominating the market as both 30 days SMA and 200 Days SMA are above the trend line. It indicates possibility of a further downfall.<br />
	<br />
	<br />
	</span></div>
<div style="text-align: justify;">
	<i><span style="font-size: 8pt;">(Chitrakar is a Stock Analyst with Jamb Technologies Pvt Ltd.)</span></i></div>',
			'published' => true,
			'created' => '2011-05-31',
			'modified' => '2012-09-16',
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			'description' => 'The Nepali share market had a lacklustre performance also in the month during March 20-April 19 despite the inauguration of eagerly awaited Central Depository System and Clearing Ltd.',
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	(int) 6 => array(
		'Article' => array(
			'id' => '298',
			'article_category_id' => '47',
			'title' => 'An Unassuming Rana',
			'sub_title' => '',
			'summary' => null,
			'content' => '<div style="margin-bottom: 0.0001pt; text-align: justify; line-height: 120%; vertical-align: middle;">
	<b><span style="font-size: 8pt; line-height: 120%;"><img align="left" alt="rana" border="1" height="247" hspace="5" src="http://newbusinessage.com/ckfinder/userfiles/Images/personality(1).jpg" style="width: 205px; height: 247px;margin:10px;padding:10px;" vspace="5" width="205" /></span></b></div>
<div style="margin-bottom: 0.0001pt; line-height: 120%; vertical-align: middle;">
	<span style="font-size:12px;"><b><span style="line-height: 120%;">Umang SJB Rana</span></b></span></div>
<div style="margin-bottom: 0.0001pt; line-height: 120%; vertical-align: middle;">
	<span style="font-size:12px;"><span style="line-height: 120%;">CEO</span></span></div>
<div>
	<span style="font-size:12px;"><span style="line-height: 115%;">Westar Properties<br />
	</span></span><span style="line-height: 115%;"><br />
	</span></div>
<div style="text-align: justify;">
	<span style="font-size: 8pt;">Horseback rides, adventure sports and lots of fun aside, Umang Rana's disciplinarian parents ensured he learnt to respect everybody. He expresses his gratitude for the earthly values his parents instilled in him right since his childhood. </span></div>
<div>
	<br />
	 </div>
<div style="text-indent: 0in;">
	<strong><i><span style="font-size: 8pt;">By Pinaki Roy<br />
	<br />
	</span></i></strong></div>
<div style="margin-bottom: 0.0001pt; vertical-align: middle; text-align: justify;">
	<span style="font-size: 12px;">B</span><span style="font-size: 9.5pt;">orn into Rana aristocracy, Umang SJB Rana, the CEO of Westar Properties did not have life served on a platter for him. Not that his family couldn't afford so, it was because his parents wanted to instil earthly values in him right since his childhood. Rana expresses his gratitude for the same, I am what I am today largely because of my parents and the values they taught me.</span></div>
<div style="margin-bottom: 0.0001pt; line-height: 11pt; vertical-align: middle;">
	<br />
	 </div>
<div style="margin-bottom: 0.0001pt; text-indent: 14.15pt; line-height: 11pt; vertical-align: middle; text-align: justify;">
	<span style="font-size: 9.5pt;">The first child of Former Deputy Inspector General of Nepal Police Rupal SJB Rana and Montessori Teacher Usha Rana, he went to Dipendra Police School (which is now Nepal Police School), Sanga. Rana considers himself blessed to have travelled the length and breadth of Nepal, Being a policeman, my father relocated frequently to different parts of Nepal. I visited no less than 13 zones myself during my school vacations.&nbsp;</span></div>
<div style="margin-bottom: 0.0001pt; text-indent: 14.15pt; line-height: 11pt; vertical-align: middle;">
	<br />
	 </div>
<div style="margin-bottom: 0.0001pt; text-indent: 14.15pt; line-height: 11pt; vertical-align: middle; text-align: justify;">
	<span style="font-size: 9.5pt;">His father wanted at least one of his two sons to join the defence forces but young Umang had different ideas in mind. After completing his A-Level from Nagarjuna Academy and ISc from St Xavier's College, Rana left for Russia to study Civil Engineering. But he left the study midway and returned home two years later. I just couldn't complete it. I fell home sick, he admits in a near apologetic tone. Back in Nepal, he began pursuing Bachelor of Business Studies degree with specialisation in Human Resource. While still in college, Rana landed his first paid job a month long stint with Surya Tobacco Company (now Surya Nepal) for its product introduction. I was on the streets promoting the new product to the passers-by and asking them to try it. Each day, they will send me to a new location, he reminisces. </span></div>
<div style="margin-bottom: 0.0001pt; text-indent: 14.15pt; line-height: 11pt; vertical-align: middle;">
	<br />
	 </div>
<div style="margin-bottom: 0.0001pt; text-indent: 14.15pt; line-height: 11pt; vertical-align: middle;">
	<span style="font-size: 9.5pt;">An introvert since early childhood, Rana had quite a few female acquaintances but never a serious relationship. He is happily married for seven years now and has a two-year-old son. You ask him about his school friends and he goes, Most of my friends from school are settled abroad. But I do come across the ones that are still here.Rana's wife Aashmi who owns Himali Pashmina Udyog was instrumental in goading him to turn a businessman. He says, I am lucky to have her as my life partner. She inspired me to take up business for a profession.</span></div>
<div style="margin-bottom: 0.0001pt; text-indent: 14.15pt; line-height: 11pt; vertical-align: middle;">
	<br />
	 </div>
<div style="margin-bottom: 0.0001pt; text-indent: 14.15pt; line-height: 11pt; vertical-align: middle; text-align: justify;">
	<span style="font-size: 9.5pt;">Venturing into business ended his career as a DHL executive. Rana had started out at DHL as an Assistant Operations Coordinator in 1999 and worked up the ladder to become its Country Operations Manager before he left in 2007. â€œI must say it was a rewarding career, he admits. Having travelled the entire South East Asia for his work, he had little left to achieve unless he wanted to take up a position with the company abroad. This is another factor that triggered his retirement from DHL as he did not want to move out of Nepal. After weighing several options, Rana finally decided to plunge into construction as, Apartment business was much in demand around three years ago which led to my decision to enter this line of business.One thing led to another and he entered into a technical collaboration with Westar Properties, Dubai. </span></div>
<div style="margin-bottom: 0.0001pt; text-indent: 14.15pt; line-height: 11pt; vertical-align: middle;">
	<br />
	 </div>
<div style="margin-bottom: 0.0001pt; text-indent: 14.15pt; line-height: 11pt; vertical-align: middle; text-align: justify;">
	<span style="font-size: 9.5pt;">Rana asserts that you can call a project a success only when it gets completed. It is precisely when commitment gets delivered and a dream turns into reality. He gets a bit emotional talking about his current project Westar Residency, a Vaastu compliant high-rise apartment building at Balkumari, Lalitpur. This is my baby. I have been involved with the project from scratch and it's immensely satisfying to see it taking shape,he says. A planner, by his own admission, he recommends infrastructure as a prime importance and wants the government to ensure infrastructure development for the overall development of the country.&nbsp;</span></div>
<div style="margin-bottom: 0.0001pt; text-indent: 14.15pt; line-height: 11pt; vertical-align: middle;">
	<br />
	 </div>
<div style="margin-bottom: 0.0001pt; text-indent: 14.15pt; line-height: 11pt; vertical-align: middle; text-align: justify;">
	<span style="font-size: 9.5pt;">He believes he was born with a golden heart, I go out of my way to help people. I guess it comes naturally to me.He is a religious person and prays for self-satisfaction. He draws inspiration from Bhagavad Gita your good actions automatically come back to you, sooner or later. Living in a joint family, he is a self-confessed homely person. He says that living in a joint family comes with a lot of advantages as well as responsibilities. On week days, it's a strict home-to-office and vice versa. He loves to catch up on movies though, with his wife and parents. He says, I am glad that there are a few good movie theatres now that we can go to.</span></div>
<div style="margin-bottom: 0.0001pt; text-indent: 14.15pt; line-height: 11pt; vertical-align: middle;">
	<br />
	 </div>
<div style="margin-bottom: 0.0001pt; text-indent: 14.15pt; line-height: 11pt; vertical-align: middle; text-align: justify;">
	<span style="font-size: 9.5pt;">Not a party animal, he normally attends social occasions only. Late nights are a complete no-no, I don't have this urge like a lot of other people to attend the so-called happening events in town.You will usually find Rana comfortably attired. He believes in dressing for the occasion. Clad in a suit while showing around his sample flats, he can be caught wearing shorts and T-shirts in summer. At other times, he loves to wear daura-suruwal for&nbsp; family functions. </span></div>
<div style="margin-bottom: 0.0001pt; text-indent: 14.15pt; line-height: 11pt; vertical-align: middle;">
	<br />
	 </div>
<div style="text-align: justify;">
	<span style="font-size: 9.5pt; line-height: 115%;">He says it's just the right time for him to work hard, I am giving it all I have, for the completion of Westar Residency by its projected deadline 4th Qtr of 2012. Once the mission is accomplished, Rana wants to expand his business horizon and move into other sectors depending on the direction the nation's economy heads towards in the next 5-10 years. At present, the uncertainty level is very high so I am yet to identify my future business course, he explains. He has kept all options open and wants to enter businesses that have values. A firm believer in the adage, œlearning never stops, success is not only about creating wealth for him. Letting go of bachelorhood and becoming a father later transformed him as a person, he says. My marriage and the birth of my son has made me become more responsible socially and had me planning for the future, he reveals. Having led quite a privileged life, Rana doesn't have any major regrets and is content with everything god has to offer. </span></div>
<div>
	<br />
	<br />
	 </div>
<div style="margin: 0in 0in 0.0001pt 70pt; text-indent: -70pt; line-height: 11pt; vertical-align: middle;">
	<strong><span style="font-size: 10pt;">On the Side<br />
	<br />
	</span></strong></div>
<ul>
	<li>
		<b><span style="font-size: 9.5pt;">Sports : </span></b><span style="font-size: 9.5pt;">Played football, basketball, badminton, tennis, cricket, volleyball&nbsp; you name it! Tried his hands at golf too, for a week,&nbsp; a time consuming sport. I will take it up full time later in life.<br />
		</span></li>
	<li>
		<b><span style="font-size: 9.5pt;">Pets :&nbsp;</span></b><span style="font-size: 9.5pt;">Owns a Tibetan Dog. Loves animals, Playing with them works as a stress buster.<br />
		</span></li>
	<li>
		<b><span style="font-size: 9.5pt;">Mobile Phones :</span></b><span style="font-size: 9.5pt;"> Any model that can receive and make phone calls is good enough. Not a gadget freak.<br />
		</span></li>
	<li>
		<b><span style="font-size: 9.5pt;">Car:&nbsp;</span></b><b><span style="font-size: 9.5pt;"> </span></b><span style="font-size: 9.5pt;">Has a fascination for automobiles. Currently drives a Mitsubishi Pajero. Prefers to drive an SUV as it is ideal for his weekend travels.<br />
		</span></li>
	<li>
		<b><span style="font-size: 9.5pt;">Television : </span></b><span style="font-size: 9.5pt;">Mainly News channels including Al Jazeera and BBC.<br />
		</span></li>
	<li>
		<b><span style="font-size: 9.5pt;">Movies&nbsp; :</span></b><span style="font-size: 9.5pt;"> Favourite genre&nbsp; Action flicks. Mad about actor Steven Seagal.<br />
		</span></li>
	<li>
		<b><span style="font-size: 9.5pt;">Food&nbsp; : </span></b><span style="font-size: 9.5pt;">Daal Bhaat Rice is my biggest weakness. Also likes Japanese and Chinese food.</span><span style="font-size: 10pt;">Trivia:</span></li>
</ul>
<p>
	 </p>
<p>
	<strong>Other<br />
	</strong></p>
<ul>
	<li>
		<span style="font-size: 9.5pt; color: rgb(157, 10, 14);">&nbsp;</span><span style="font-size: 9.5pt;">Rana wanted to learn piloting, a childhood dream he never pursued. </span></li>
	<li>
		<span style="font-size: 9.5pt; color: rgb(157, 10, 14);">&nbsp;</span><span style="font-size: 9.5pt;">His father's wish finally came true My younger brother joined the police, he quips. </span></li>
	<li>
		<span style="font-size: 9.5pt; color: rgb(157, 10, 14);">&nbsp;</span><span style="font-size: 9.5pt;">A terrible liar I find it difficult to lie because when I do, it reflects on my face</span></li>
	<li>
		<span style="font-size: 9.5pt; line-height: 115%;">For a rush delivery while at DHL, he momentarily forgot his work designation and drove a delivery van.</span></li>
</ul>
<p>
	 </p>
<p>
	 </p>',
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			'description' => 'Born into Rana aristocracy, Umang SJB Rana, the CEO of Westar Properties did not have life served on a platter for him.',
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			'title' => 'Dr Supachai Panitchpakdi',
			'sub_title' => '',
			'summary' => null,
			'content' => '<p>
	<span style="font-size: 14px;"><strong><br />
	</strong></span></p>
<p>
	<span style="font-size: 14px;"><strong>Trade Should Be Harnessed To Ensure Development</strong></span></p>
<p>
	 </p>
<p>
	<span style="font-size:14px;"><strong><br />
	</strong></span></p>
<div style="text-align: justify;">
	<span style="font-size:12px;"><img align="left" alt="WTO" border="1" height="185" hspace="5" src="http://newbusinessage.com/ckfinder/userfiles/Images/interview1(1).jpg" style="width: 266px; height: 185px;margin:10px;padding:10px;" vspace="5" width="266" />Dr Supachai Panitchpakdi is the Secretary-General of the UN Conference on Trade and Development (UNCTAD), a post he first took up in September 2005. Prior to this, he was the Director-General of the World Trade Organisation (WTO). A PhD in Economic Planning and Development from the Netherlands School of Economics (now Erasmus University Rotterdam), he also served as Thailand's Deputy Prime Minister, Minister of Commerce and Deputy Minister of Finance on different times.&nbsp;Dr Supachai was in Kathmandu recently to attend the Regional Workshop on Productive Capacities, Economic Growth and Poverty Reduction in Asian and the Pacific LDCs. In an interview with Gaurav Aryal of <i>New Business Age</i>, he shared his views on economic, trade and development issues of the Least Developed Countries (LDCs).&nbsp;Excerpts:</span></div>
<div style="text-align: justify;">
	<span style="font-size:12px;"><br />
	<br />
	</span></div>
<div style="text-align: justify;">
	<span style="font-size:12px;"><strong>UNCTAD is organising a series of regional workshops to disseminate the findings of its reports such as Least Developed Countries Report, UNCTADâ's Division for Africa, Least Developed Countries and Special Programmes (ALDC) etc. What are the general findings of these reports?<br />
	<br />
	</strong></span></div>
<div style="text-align: justify;">
	<span style="font-size:12px;">We are trying to concentrate on the areas of structural adjustments mainly in supporting the work of the states. We are trying to create productive capacity which means jobs creation, investment in infrastructure, investment in power plants and education. Our findings say that economic growth is needed to create social welfare for people. It does not happen automatically. So, there has to be definite development governance that would direct all the gains from growth to areas that would give people the right to participate, have transparency and decision making process as well as in the areas of trade. LDCs are essentially small economies. So, we think an LDC should make efforts to mainstream trade policy into its national development policy. The domestic markets are not enough to maintain basic demand so they need external demand too. For this, they need access in the international market. Special concessions given by the advanced countries for the LDCs will be crucial. It should be the heart of what we call early harvest for Doha negotiation.</span></div>
<div style="text-align: justify;">
	<span style="font-size:12px;"><br />
	<br />
	</span></div>
<div style="text-align: justify;">
	<span style="font-size:12px;"><strong>What can Nepal learn from the experience of other developing countries?<br />
	<br />
	</strong></span></div>
<div style="text-align: justify;">
	<span style="font-size:12px;">First of all, development governance is very important. If you look at countries like Malaysia and Korea, these developing countries have actually showed the way for industrialisation process where the government has been taking the lead. They support industrial zones, put up investment policy that attract foreign direct investment (FDI) in technology related areas and create trade infrastructure in terms of ports, transportation facilities and trading firms. For example, they have trading firms that help promote the products in foreign countries. Nepal can also learn from their monetary policy that is customer focal. In the area of tourism, Nepal is doing well but it can certainly do better. More investment is required to attract tourists but it is important at the same time, to keep the negative effect of tourism under control.</span></div>
<div style="text-align: justify;">
	<span style="font-size:12px;"><br />
	<br />
	</span></div>
<div style="text-align: justify;">
	<span style="font-size:12px;"><strong>Despite having ample resources, poor countries have extremely low economic growth. Could you highlight the key issues where LDCs like Nepal fail in formulating trade and economic policies?<br />
	<br />
	</strong></span></div>
<div style="text-align: justify;">
	<span style="font-size:12px;">I am not clear about Nepal but many LDCs have remained too dependent on few commodities. They have also failed most of the time to pursue positive development. This is an area in which it needs investment from the government sector for extended service, irrigation projects, water management and to build roads in the rural areas.&nbsp;The government also needs to provide support and subsidies for farmers in rural areas where they do not enjoy enough income to sustain themselves. LDCs also need to sustain in the areas of gender and women. In Africa, for example, women are the most underutilised productive capacity. In Asia, we still need legal reform that would put women rights, wage level, welfare treatment, education etc at par with men.&nbsp;LDCs can also learn from countries that have performed well in domestic resource mobilisation because one has to develop the domestic financial market. The banking system must be solid and it needs prudential supervision by the government so that more savings can be mobilised. You can have more resources here in Nepal itself and you don't have to be totally dependent on foreign aid.</span></div>
<div style="text-align: justify;">
	<span style="font-size:12px;"><br />
	<br />
	</span></div>
<div style="text-align: justify;">
	<span style="font-size:12px;"><strong>You have been part of the Thai Government in the past. What should be the agenda of LDC governments on the level of policy making and implementation, to increase the export trade volume?<br />
	<br />
	</strong></span></div>
<div style="text-align: justify;">
	<span style="font-size:12px;">The LDCs will have to invest in capacity to produce, to begin with. For example, if you have some food products, you may need to process food products as well in order to add value. Similarly, if you have some minerals, then you should think of investing in the processing of minerals. In Thailand we invested in canning of tuna fish which has been doing exceedingly well. We used to produce automobile spare parts to begin with but gradually we started producing automobiles on our own. So, you have to start from somewhere and try to move up the ladder all the time. I would recommend that LDCs having niche in certain areas have to keep adding value. Importance of technology is one lesson we have learnt in Thailand. Innovation and technology depends on the quality of education. Education must be guided in a way that would promote research. In Thailand, university professors and academics are encouraged to conduct more research and innovate. Foreign companies are also being attracted to the country to learn technology from. </span></div>
<div style="text-align: justify;">
	<span style="font-size:12px;"><br />
	<br />
	</span></div>
<div style="text-align: justify;">
	<span style="font-size:12px;"><strong>LDCS are largely dependent on donors and face heavy foreign debt. They also lack fundamental base of stable politics and proper policy implementation. Amid such complexities, how can countries move on the right path of development and poverty reduction?<br />
	<br />
	</strong></span></div>
<div style="text-align: justify;">
	<span style="font-size:12px;">Well, I think these are more controversial issues than the development policies. You must have growth to be able to have social investment and welfare but, of course, a loan is not enough. In order to transfer growth into social development, you probably need a policy on socio protection and inclusive development. It means that you would have to try to spread growth throughout the country. You need growth to be well distributed and not concentrated in certain areas only. It means decentralisation. You need to decentralise the authorities of the government and the investment activities. Investment has to be made into rural network of roads and means of transportation. Both skilled and unskilled people need help as well. If you look at the informal sector particularly, there are a lot of people being underpaid. You have to be able to initiate social programmes that would help guarantee employment. The employment guarantee programme in India could be one shining example. I feel that such programmes help support rural families. I also like the Bolsa Familia programme in Brazil where government financial support is given to families on condition that children must attend school until secondary education. These are some of the obvious measures that are needed to produce the impact from economic growth for social welfare. </span></div>
<div style="text-align: justify;">
	<span style="font-size:12px;"><br />
	<br />
	</span></div>
<div style="text-align: justify;">
	<span style="font-size:12px;"><strong><img align="right" alt="reduction" border="1" height="214" hspace="5" src="http://newbusinessage.com/ckfinder/userfiles/Images/interview(1).jpg" style="width: 171px; height: 214px;margin:10px;padding:10px;" vspace="5" width="171" />What should be the role of the development partners in addressing the issues of development and poverty reduction in the LDCs?<br />
	<br />
	</strong></span></div>
<div style="text-align: justify;">
	<span style="font-size:12px;">Development partners normally provide financial means. They have a target to meet - a contribution of 0.15 to 0.2 per cent of the GNP - which has to be given to the LDCs. However, they are giving only 0.09 per cent which is too low. I think the target should be met. The development partners should work on transfer of technology. This is not in financial terms but in terms of intellectual property rights. There should be some sort of open software system that can be accessed by the LDCs so that proprietorship could be opened up for people to search. I would say, in the trade areas as per the Doha agenda, they can give concessions to the LDCs as an early harvest. They don't need to wait until the end of the round to give concessions in the form of duty- and quota-free concessions for trade facilitation and in the areas of outsourcing of services. These are some of the areas which, I believe, could be done in terms of green economy. I also expect the green fund for the LDCs or the green development mechanism to be established. Some of these arrangements would pay special attention to the roles of the LDCs and they should be granted special assistance in these funding ranges. </span></div>
<div style="text-align: justify;">
	<span style="font-size:12px;"><br />
	<br />
	</span></div>
<div style="text-align: justify;">
	<span style="font-size:12px;"><strong>How do you view the current debate on aid for trade?<br />
	<br />
	</strong></span></div>
<div style="text-align: justify;">
	<span style="font-size:12px;">Aid for trade is a good programme to mainstream trade into development. For us at UNCTAD, aid for trade means aid for trade for development. So, trade should be harnessed for serving this purpose. We have been talking about the need for more productive investment and investment in trade infrastructure, development training of skill negotiators, the need to setup the right commercial institutions and the right legal framework. You must have the legal people who understand the Trade-Related Aspects of Intellectual Property Rights (TRIPS) issues. You may also need to have the IT court. The aid for trade should also help in the areas of providing capacity to accomplish more work in environment and trade. UNCTAD believes the new areas of green economy would provide for opportunities to invest in renewable and energy products. I think â€˜aid for trade can help pave the way to support transfer of technology and training of scientists and engineers. This would also help in bringing the LDCs to new rounds of opportunities courtesy the green economy.</span></div>
<div style="text-align: justify;">
	<span style="font-size:12px;"><br />
	<br />
	</span></div>
<div style="text-align: justify;">
	<span style="font-size:12px;"><strong>In poor countries, the governments try to tread a middle path between the models of controlled economy and free economy. How do you evaluate Nepal's trade and more specifically, its economic policy?<br />
	<br />
	</strong></span></div>
<div style="text-align: justify;">
	<span style="font-size:12px;">To be fair to the government in Nepal, I am not qualified enough to emphasise on what Nepali economy should be doing. But I do see the role of the government being evolved here. I hope it will evolve in a way where there won't be too many controls. It is important for the Nepali government to be balanced in its role along with its evolving policies. The direction we would like to advise is to go into what we call development governance. This will help policies being directed at getting the development strategy right. The government should not look at market reform, competition and pricing policy only. It must have the market work so as to attract new projects that would create employment. Productive investment should be encouraged. Nepal needs a monetary policy that would mobilise more funds and keep interest rates not too high. It would mean the fiscal policy will have to be directed at needs to create the perfect infrastructure. It will also mean that the exchange rate policy needs to be flexible. And you have to have the exchange rate at a level that will be stable and will help make your products competitive.</span></div>
<div style="text-align: justify;">
	<span style="font-size:12px;"><br />
	<br />
	</span></div>
<div style="text-align: justify;">
	<span style="font-size:12px;"><strong>Questions are often raised in poor countries about the value and benefit of being WTO members. Anti-WTO activists accuse that WTO policies are pro-rich and poor countries simply can't afford to abide by WTO policies. What do you have to say?<br />
	<br />
	</strong></span></div>
<div style="text-align: justify;">
	<span style="font-size:12px;">Well, being a WTO member is not enough. It won't help a country if it doesn't work on it to make itself strong in competition. So, being a WTO member is like being presented with opportunities to take advantage of the markets around the world. Taking advantage from the market depends on domestic policies. The domestic policies must drive forward to do more work in the areas of trade infrastructure, business improvement, skills training, development of science of the exported products and standard of products that would meet international standards. The technical barriers to trade and technical standards of manufactured products are also important. You also need the right laws to take benefits from the membership of the WTO. Being the member of the WTO is not a free ride, for sure.</span></div>
<div style="text-align: justify;">
	<span style="font-size:12px;"><br />
	<br />
	</span></div>
<div style="text-align: justify;">
	<span style="font-size:12px;"><strong>What's the equation between UNCTAD and WTO in terms of policies?<br />
	<br />
	</strong></span></div>
<div style="text-align: justify;">
	<span style="font-size:12px;">UNCTAD and WTO follow similar policies and support and complement each other. For instance, UNCTAD has been doing a lot of work in the area of capacity building while WTO is doing the same in the area of trade. We support the WTO in areas of trade facilitation and negotiation and trade and environment negotiation. We do the work on investment policies that WTO cannot do due to the lack of investment agreement at WTO. Being the focal point for investment policy for the UN system, we have been giving advice on investment policies to developing countries around the world. We advise them on investment agreement, investment promotion, policies etc. So, this actually complements WTO on what it cannot do. Also in the area of competition laws and consumer protection which WTO could not agree, we are providing assistance for countries to establish competition laws and consumer protection. Therefore, I think we do play a complementary role. The pace of trade liberalisation might have been a little too fast for developing countries. They may have not been able to reap benefits because they were not well prepared. The WTO also agrees now that in order to garner benefits from trade liberalisation, well preparedness and trade mainstreaming into the development process are essential. </span></div>
<div style="text-align: justify;">
	<span style="font-size:12px;"><br />
	<br />
	</span></div>
<div style="text-align: justify;">
	<span style="font-size:12px;"><strong>How would you like Nepal to take advantage from huge and growing markets on both sides of its borders?<br />
	<br />
	</strong></span></div>
<div style="text-align: justify;">
	<span style="font-size:12px;">Asia is now the growth port of the world. This is an area where growth is maintained at a very high level and quite stably. I think Nepal is situated in the right place with major countries surrounding it like India and China and South East Asia within close proximity. There should be a definite government policy to direct trade cooperation with all these countries. Such endeavours are supported by Asian Development Bank also. Cooperation is not always easy among neighbouring countries. However, you must concentrate on joint projects like transportation or regional projects taking part in joint programmes like tourism promotion etc. I think you should make use of having a deeper integration with South East Asian and North Asian countries in the region besides China and India. </span></div>
<div style="text-align: justify;">
	<span style="font-size:12px;"><br />
	<br />
	</span></div>
<div style="text-align: justify;">
	<span style="font-size:12px;"><strong>Will it be sustainable for LDCs to look for export trade only?<br />
	<br />
	</strong></span></div>
<div style="text-align: justify;">
	<span style="font-size:12px;">No. Sustainability is more than just export trade. It means you must have social equality, look after ecology and environment and invest in forestation to keep forests alive and growing. You have to invest in water management and human resources that will make for sustainable development. Therefore, it's not only export trade that would drive you. You must have a combination of inclusive policies that would shape the benefits of growth and trade equally. </span></div>
<div style="text-align: justify;">
	<span style="font-size:12px;"><br />
	<br />
	</span></div>',
			'published' => true,
			'created' => '2011-05-31',
			'modified' => '2012-09-16',
			'keywords' => '',
			'description' => 'Dr Supachai Panitchpakdi  is the Secretary-General of the UN Conference on Trade and Development (UNCTAD), a post he first took up in September 2005. Prior to this, he was the Director-General of the World Trade Organisation (WTO). A PhD in Economic Planning and.....',
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	(int) 8 => array(
		'Article' => array(
			'id' => '296',
			'article_category_id' => '48',
			'title' => 'Truly Fighting Spirit',
			'sub_title' => '',
			'summary' => null,
			'content' => '<div style="margin-bottom: 0.0001pt; text-align: justify; line-height: 120%; vertical-align: middle;">
	<span style="color: rgb(255, 140, 0);"><i><span style="font-size: 8pt; line-height: 120%;"><img align="left" alt="madan" border="2" height="146" hspace="2" src="http://newbusinessage.com/ckfinder/userfiles/Images/img(4).jpg" style="width: 121px; height: 146px;margin:10px;padding:10px;" vspace="1" width="121" />By Madan Lamsal<br />
	<br />
	<br />
	</span></i></span></div>
<div style="margin-bottom: 0.0001pt; text-align: justify; vertical-align: middle;">
	<span style="font-size: 14px;">T</span><span style="font-size: 9.5pt;">he FNCCI has elected a new President. The election this time was quite historic as it was fought not only in democratic spirit but it had all killing spirits between the contesting panels. It took many years to achieve this grandeur of fighting spirit that got literally demonstrated beyond ballot. It was but natural for the FNCCI electorates to be inspired by the fights surrounding all around them.<br />
	<br />
	<br />
	</span></div>
<div style="margin-bottom: 0.0001pt; text-align: justify; text-indent: 14.15pt; line-height: 11pt; vertical-align: middle;">
	<span style="font-size: 9.5pt;">The political leaders of the same party and those supposedly following the same principle, if any they have, are fighting cats and dogs. The trade unions are not only fighting with their employers but also between the factions in themselves. A few revolutionary parties have also waged a diplomatic war throwing shoes and pelting stones to some foreign diplomats. Some horrible, oooch! honourable Members of the revered Constituent Assembly(CA) who tried to write constitutional provisions in Red Passports are now fighting legal battles. All apart, the largest party in the CA is more inclined to fight than to write the constitution. To cut it short, there is fight in every spectrum of national life and how can one expect only the business community not to breathe the air from national atmosphere and remain shy of fighting.<br />
	<br />
	<br />
	</span></div>
<div style="margin-bottom: 0.0001pt; text-align: justify; text-indent: 14.15pt; line-height: 11pt; vertical-align: middle;">
	 </div>
<div style="margin-bottom: 0.0001pt; text-align: justify; text-indent: 14.15pt; line-height: 11pt; vertical-align: middle;">
	<span style="font-size: 9.5pt;"><img align="left" alt="nolaughingmatter" border="1" height="267" hspace="5" src="http://newbusinessage.com/ckfinder/userfiles/Images/no laugh(2).jpg" style="width: 292px; height: 267px;margin:10px;padding:10px;" vspace="5" width="292" />In fact, the body fight was the only thing left to make the FNCCI an institution compatible to our true national character. Everybody else in the society raised their fists and waved their legs to kick somebody from home or office but not the chamber members. This was the only gap left in the respectable members of apex chamber of the country to qualify as the national heroes. Now the brave brothers of business fraternity have done the job professionally making everybody feel proud about it. Thus it has been established now that private sectorsâ€™ leaders are not differently able or mentally retarded but physically capable and mentally sharp. Not to mention a special ability of the business community to be absolutely spendthrift when chips are actually down. This election was the latest testimony to it.&nbsp;To remind, there was a fight to finish spirit in the money game as well.</span></div>
<div style="margin-bottom: 0.0001pt; text-align: justify; text-indent: 14.15pt; line-height: 11pt; vertical-align: middle;">
	<br />
	<br />
	 </div>
<div style="margin-bottom: 0.0001pt; text-align: justify; text-indent: 14.15pt; line-height: 11pt; vertical-align: middle;">
	<span style="font-size: 9.5pt;">&nbsp;The exposition of this purely new quality amongst the business leaders, the true spirit of fighting among others, now ensures high pace of economic growth and prosperity of the nation. The country had remained poor so long only because our business community loathed the fight. Now they are on board and hopes for economic revolution are as high as ever before. Let's take a cue ! The political revolution was possible due to the fact that the politicians always fought like dogs among themselves. If Nepal wants economic revolution as well then the businessmen should also fight like the politicians. Apparently, now on, the Nepali business community will continue to learn from Nepali politics.</span></div>
<div style="margin-bottom: 0.0001pt; text-align: justify; text-indent: 14.15pt; line-height: 11pt; vertical-align: middle;">
	<br />
	<br />
	 </div>
<div>
	<span style="font-size: 9.5pt; line-height: 115%;">The revival of the fighting spirit and money mixing in ballots are indeed great achievements in this direction. Now, the fighting spirit, like in politics, should be able to kill all other spirits like democratic, nationalistic or ethical spirits to name a few. This only will make FNCCI an institution of repute and dignity that suits to twenty-first century national umbrella chamber.<br />
	<br />
	<br />
	</span></div>',
			'published' => true,
			'created' => '2011-05-31',
			'modified' => '2012-09-16',
			'keywords' => '',
			'description' => 'The FNCCI has elected a new President. The election this time was quite historic as it was fought not only in democratic spirit but it had all killing spirits between the contesting panels.',
			'sortorder' => '222',
			'image' => null,
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	(int) 9 => array(
		'Article' => array(
			'id' => '295',
			'article_category_id' => '52',
			'title' => 'The White Paper Hoax',
			'sub_title' => '',
			'summary' => null,
			'content' => '<div style="text-indent: 0in; text-align: justify;">
	<span style="font-size: 16px;"><img align="left" alt="fromtheeditor" border="1" height="279" hspace="10" src="http://newbusinessage.com/ckfinder/userfiles/Images/img(3).jpg" style="width: 214px; height: 279px;margin:10px;padding:10px;" vspace="10" width="214" />A</span>fter failing to bring in a supplementary budget as planned, the lame-duck Jhala Nath Khanal government on 12th April issued a so called White Paper, primarily to placate the senior partner in the coalition government the UCPN - Maoists. At the first place, the issuance of such policy paper was an untimely and unnecessary exercise. Only a few days earlier Deputy Prime Minister Bharat Mohan Adhikari had announced an energy crisis management plan in the legislature parliament. If anything the government had to add on, that could have been incorporated in that speech. But, Adhikari chose to organise a separate media event in his own ministry to elaborate the priorities of the government through this White Paper.</div>
<div style="text-indent: 0in; text-align: justify;">
	<br />
	 </div>
<div style="text-align: justify;">
	<span style="letter-spacing: 0.1pt;">Effectively, the paper hardly contained anything new, thus defeating the very purpose of it. Like the earlier government, Adhikari also emphasised on sticking to the so called&nbsp;three pillar private, co-operatives and public pillars concept of the economy, which for all practical purposes is nothing more than verbose. In essence, cooperative is a private sector exercise. And public sector participating with other sectors private or cooperatives is an absolute anti-thesis to economic progress. The state must not be a partnerâ to a party who does the business. Therefore, re-emphasising on this obsolete platitude of partnership is absolute nonsense. </span></div>
<div style="text-align: justify;">
	<br />
	 </div>
<div style="text-align: justify;">
	Second, the very intent was redoubtable and the procedures adopted were questionable. The hidden agenda of the White Paper was to ignite pork barrel spending in non-productive, politically designed programmes. Such an act was propelled by the Maoists wishful plan that&nbsp;the nearly Rs 22 billion remained idle in the government coffers could be used in the party's pet programmes.</div>
<div style="text-align: justify;">
	<br />
	 </div>
<div style="text-align: justify;">
	As regards procedures, any new government surely has moral rights to outline its policies and programmes. But, by norm either it should come as the policy speech of the new prime minister, or the government could table it in the parliament. But a deputy prime minister organising a press meet in his ministry to make the White Paper public barely matched the gravity it warranted.</div>
<div style="text-align: justify;">
	<br />
	 </div>
<div style="text-align: justify;">
	<span style="letter-spacing: -0.1pt;">The White Paper has artlessly copied several ear-friendly programmes like helping in commercialisation of the agriculture and boosting the private sector business initiatives. But the promises this paper made could be translated into actions only when the parties in the government&nbsp; the Maoists and the UML, first agree to tame their own trade unions. Interestingly, this White Paper hardly talks about the steps to address the present industrial anarchy due to irresponsible behaviour particularly of the ruling party-affiliated unions.</span></div>
<div style="text-align: justify;">
	<br />
	 </div>
<div style="text-align: justify;">
	<span style="letter-spacing: -0.1pt;">Also, it is a great irony that the White Paper instead of serving the government's intended purpose just exposed the ulterior motives of PM Khanal and his affiliates. For the economy, it simply could not leave a mark, let alone contribute positively, as it had no teeth and breath. Going deeper into Deputy PM Adhikariâ's intentions, he so deliberately skipped some of the hottest issues of the economy that needed immediate attention.</span></div>
<div style="text-align: justify;">
	<br />
	 </div>
<div style="text-align: justify;">
	Adhikari very tactfully avoided making any commitment to take action against the businesses involved in forging VAT bills. Similarly, the White Paper did not have any unequivocal position to continue to adopt a free market economy and the government limiting its role not as the market participant but just an honest referee of the game.<br />
	<br />
	 </div>',
			'published' => true,
			'created' => '2011-05-31',
			'modified' => '2012-08-28',
			'keywords' => '',
			'description' => 'After failing to bring in a supplementary budget as planned, the lame-duck Jhala Nath Khanal government on 12th April issued a so called White Paper.....',
			'sortorder' => '221',
			'image' => null,
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	),
	(int) 10 => array(
		'Article' => array(
			'id' => '294',
			'article_category_id' => '34',
			'title' => 'Manufacturing Production Index Increases',
			'sub_title' => '',
			'summary' => null,
			'content' => '<div style="text-align: justify;">
	Manufacturing Production Index in the first quarter of the current fiscal year increased by 1.23 per cent compared to the same period previous fiscal year, according to the data released recently by the Central Bureau of Statistics (CBS).<br />
	Â </div>
<div style="text-align: justify;">
	In the same period, the Manufacturing Producersâ€™ Price Index increased 8.11 per cent, show the CBS data.<br />
	Â </div>
<div style="text-align: justify;">
	The highest increase in the production was in aluminium products (42 per cent) followed by rectified liquor and garment both of which increased over 34 per cent. The largest decline was in paper (other than newsprint) which registered a whopping reduction of ovr 64 per cent. That was followed by biscuits which declined over 51 percent. Among the other decliners were beer (17 per cent), soft drinks (26 per cent), sawn wood (24 per cent) and wire and cable (16 per cent).<br />
	<br />
	Â </div>
<div style="text-align: justify;">
	Among the goods in which the price increased, the highest was in the sawn wood (132 per cent) followed by lube oil (78 per cent),&nbsp;ply wood (73 per cent) and paper excluding newsprint (72 per cent).<br />
	Â </div>
<p style="text-align: justify;">
	Among the goods in which the producersâ€™ price decreased include iron rod and billets and plastic products (21 per cent) and soap and carton boxes (26 per cent each). </p>',
			'published' => true,
			'created' => '2011-04-28',
			'modified' => '0000-00-00',
			'keywords' => '',
			'description' => 'Manufacturing Production Index in the first quarter of the current fiscal year increased by 1.23 per cent compared to the same period previous fiscal year, according to the data released recently by the Central Bureau of Statistics (CBS).',
			'sortorder' => '220',
			'image' => null,
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	(int) 11 => array(
		'Article' => array(
			'id' => '293',
			'article_category_id' => '34',
			'title' => 'Rs 1.5 Billion ADB Aid In Agriculture',
			'sub_title' => '',
			'summary' => null,
			'content' => '<div style="text-align: justify;">
	<img align="left" alt="" border="2" hspace="2" src="http://newbusinessage.com/ckfinder/userfiles/Images/img3.jpg" vspace="2" />Asian Development Bank (ADB) has signed an agreement with Nepal government to provide an assistance of Rs 1.447 billion to help small and medium sized farmers to enhance cash crops production under value chain concept.</div>
<p style="text-align: justify;">
	The project covers 10 districts in mid western and far western regions targeting to provide benefit to 18,700 households. The project targets to help farming in 7,500 hectares of land and produce 65,500 metric tonnes of products that is expected to be valued at US$ 301 million, according to the ADB. The project is expected to increase the income levels of the women.</p>',
			'published' => true,
			'created' => '2011-04-28',
			'modified' => '0000-00-00',
			'keywords' => '',
			'description' => 'Asian Development Bank (ADB) has signed an agreement with Nepal government to provide an assistance of Rs 1.447 billion to help small and medium sized farmers to enhance cash crops production under value chain concept.',
			'sortorder' => '219',
			'image' => null,
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			'homepage' => false,
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	(int) 12 => array(
		'Article' => array(
			'id' => '292',
			'article_category_id' => '34',
			'title' => 'Digitised E-posters For Advertising',
			'sub_title' => '',
			'summary' => null,
			'content' => '<div style="text-align: justify;">
	<img align="left" alt="" border="2" hspace="2" src="http://newbusinessage.com/ckfinder/userfiles/Images/img2.jpg" style="width: 320px; height: 202px;" vspace="2" />Media Space Solution Pvt Ltd has begun using digitised e-posters as a new advertising medium. G P Adhikari, the Executive Director of the company said at its official announcement function that advertising through such technology is easy and affordable. He informed that the technology is called electronic point of purchase media (E-POM).</div>
<p style="text-align: justify;">
	According to the company, this service has started from Bhatbhateni Supermarket in Kathmandu. Four 46 inches and two 32 inches display screens have been installed at the supermarket. Currently, there are 30 different advertisements being played on the e-posters. The screens are manufactured by Viewsonic, an American company. The advertisement on these e-posters can be played through pen drives too. </p>',
			'published' => true,
			'created' => '2011-04-28',
			'modified' => '0000-00-00',
			'keywords' => '',
			'description' => 'Media Space Solution Pvt Ltd has begun using digitised e-posters as a new advertising medium. G P Adhikari, the Executive Director of the company said at its official announcement function that advertising through such technology is easy and affordable.',
			'sortorder' => '218',
			'image' => null,
			'article_date' => '0000-00-00 00:00:00',
			'homepage' => false,
			'breaking_news' => false,
			'main_news' => false,
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		)
	),
	(int) 13 => array(
		'Article' => array(
			'id' => '291',
			'article_category_id' => '34',
			'title' => 'Carpet Export Increases Despite Production Problems',
			'sub_title' => '',
			'summary' => null,
			'content' => '<div style="text-align: justify;">
	The export of woollen carpet increased&nbsp;16.5 per cent in the first six months of the current fiscal year compared to the same period of the last year indicating rvivial in the industry.<br />
	Â </div>
<div style="text-align: justify;">
	According to the Trade and Export Promotion Centre, 423,481 square metres of carpet worth Rs 2.37 billion was exported to different countries in the six months that ended on mid-January 2011. During the same period last year, the value of carpet export was Rs 2.03 billion.<br />
	Â </div>
<div style="text-align: justify;">
	Anup Bahadur Malla, the promoter of Kangri Carpet said the demand for Nepali carpet is growing in the international market. â€œWe have not been able to supply enough to meet the growing demand,â€ he added. He revealed that though the market is growing, the industries in Nepal have failed to respond accordingly due to the power crisis and labour problems.<br />
	Â </div>
<div style="text-align: justify;">
	â€œThough we have demand, there are no skilled labours to produce carpet,â€ he lamented. He added that the price of Nepali carpets have not increased despite the rise in demand. Nepali carpets compete with the Indian carpets which are 40 per cent cheaper. But Malla claimed that the quality of Nepali carpet is much better.<br />
	Â </div>
<p style="text-align: justify;">
	Surendra Dhakal, the Advisor of the Carpet Exporterâ€™s Association has however cautioned that though the export had increased in the first six months it has started declining after December. </p>
<p>
	Â </p>',
			'published' => true,
			'created' => '2011-04-28',
			'modified' => '0000-00-00',
			'keywords' => '',
			'description' => 'The export of woollen carpet increased 16.5 per cent in the first six months of the current fiscal year compared to the same period of the last year indicating rvivial in the industry.',
			'sortorder' => '217',
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	(int) 14 => array(
		'Article' => array(
			'id' => '290',
			'article_category_id' => '34',
			'title' => 'Banks Register Increase In Returns And Capital Fund',
			'sub_title' => '',
			'summary' => null,
			'content' => '<div style="text-align: justify;">
	Commercial banksâ€™ average return has increased by 2 per cent over the last one year. This is shown by the unaudited report of 30 banks for the second quarter of the current fiscal year.<br />
	Â </div>
<div style="text-align: justify;">
	Average return of the banks in second quarter of the last year was 9.46 per cent while this year, it is 11.44 per cent. Shovan Dev Panta, the CEO of Lumbini Bank said the average return increased as there was progress in the repayment of bad loans. â€œHowever with the increase in cost of fund, the returns have not increased as expected,â€ he added. Cost of fund that was 5.43 per cent in the second quarter last year has increased to 7.86 per cent in the same period this year.<br />
	Â </div>
<div style="text-align: justify;">
	Maheswor Lal Shrestha, the Management Coordinator of Nepal Bank Limited said it is positive to have increasing returns for banks in the current difficult situation. â€œBut along with the return, cost of fund has also increased which is not a good sign,â€ he said. He cites the increase in interest rate for deposits as the main reason behind the rise in cost of fund. â€œThis would also increase the rate of interest in loans which will eventually affect investment and consumption,â€ he explained.<br />
	Â </div>
<p style="text-align: justify;">
	According to the report, all banksâ€™ average returns have increased. Compared to the second quarter of last fiscal year, bankâ€™s capital adequacy has increased to 15.7 per cent of the risk-weighted assets.&nbsp;This was 10.4 per cent in the same period last year.</p>',
			'published' => true,
			'created' => '2011-04-28',
			'modified' => '0000-00-00',
			'keywords' => '',
			'description' => 'Commercial banksâ€™ average return has increased by 2 per cent over the last one year. This is shown by the unaudited report of 30 banks for the second quarter of the current fiscal year.',
			'sortorder' => '216',
			'image' => null,
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			'title' => 'Are You Backed By SAP?',
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			'summary' => null,
			'content' => '<div style="margin-bottom: 0.0001pt; vertical-align: middle; text-align: justify;">
	<span style="font-size: 14.5pt;"><img align="left" alt="" border="1" height="225" hspace="10" src="http://newbusinessage.com/ckfinder/userfiles/Images/imm.jpg" style="width: 349px; height: 225px;margin:10px;padding:10px;" vspace="10" width="349" />S</span><span style="font-size: 9.5pt;">AP is an acronym for Systems, Applications and Products in data processing; and today, it is the world's largest business software company which delivers products and services that help to speed up business innovation for customers. When it comes to operating with the ultimate idea of uninterrupted and ever increasing performance in business, SAP is the perfect solution. </span></div>
<div style="margin-bottom: 0.0001pt; text-indent: 14.15pt; line-height: 11pt; vertical-align: middle; text-align: justify;">
	<br />
	<span style="font-size: 9.5pt;">SAP provides a single, integrated technology platform that supports industry-specific business processes through optional enhancement packages that enables to build on progress, without causing business disruptions. </span></div>
<div style="margin-bottom: 0.0001pt; text-indent: 14.15pt; line-height: 11pt; vertical-align: middle; text-align: justify;">
	<br />
	<span style="font-size: 9.5pt;">SAP solutions are efficient and this can be largely credited to SAP's impeccable architecture. It is built on state-of-the-art computing technologies based on the Business Framework architecture which is capable of processing huge volumes of information and supporting rapid decision-making. </span></div>
<div style="margin-bottom: 0.0001pt; text-indent: 14.15pt; line-height: 11pt; vertical-align: middle; text-align: justify;">
	<br />
	<br />
	<span style="font-size: 9.5pt;">There are a few things that distinctly mark SAP apart from other solutions in the market. The foremost is their service-oriented architecture (SOA) which speeds and simplifies the integration of SAP and non-SAP solutions. Therefore, SAP's implementation offers high levels of data integration as it ensures synchronisation of information between SAP and the underlying business execution systems. This open connectivity actually allows business components to interact with several business systems. </span></div>
<div style="margin-bottom: 0.0001pt; text-indent: 14.15pt; line-height: 11pt; vertical-align: middle; text-align: justify;">
	<br />
	<span style="font-size: 9.5pt;">Needless to say, with SAP, a company can gain meaningful, industry-specific, role-based insight into the business performance.</span><span style="font-size: 9.5pt;">Understanding its functionality requires recognising the working of its components. Building on existing SAP R/3 functionality, SAP includes functionality for advanced Business Consolidation and Business Information Collection, which links internal information with automated collection of relevant external information through the Internet. SAP also supports advanced Business Planning and Simulation, based on both internal and external information - allowing you to model risks and rewards, and more effectively manage future uncertainties. </span></div>
<div style="margin-bottom: 0.0001pt; text-indent: 14.15pt; line-height: 11pt; vertical-align: middle; text-align: justify;">
	<br />
	<span style="font-size: 9.5pt;">Furthermore, once you resort to SAP solutions, the Corporate Performance Monitor including the Management Cockpit is enhanced with industry-specific Key Performance Indicators (KPI) templates on the one hand while on the other, the Stakeholder Relationship Management component facilitates communication with investors and other important stakeholder groups. </span></div>
<div style="margin-bottom: 0.0001pt; text-indent: 14.15pt; line-height: 11pt; vertical-align: middle; text-align: justify;">
	<br />
	<span style="font-size: 9.5pt;">SAP unequivocally meets all your company's requirements and addresses all its prominent concerns.The implementation of SAP Enterprise Resource Planning (ERP) can lead to many benefits. Some evident gains are stated as follows:</span></div>
<div style="margin-bottom: 0.0001pt; text-indent: 14.15pt; line-height: 11pt; vertical-align: middle; text-align: justify;">
	<br />
	<span style="font-size: 9.5pt;">With SAP solutions, your enterprise shall run in accordance with strategy and plans, accessing the right information in real time to identify concerns early. SAP improves operational efficiency and productivity within and beyond your enterprise thus extending transactions, information, and collaboration functions to a broader business community.</span></div>
<div style="margin-bottom: 0.0001pt; text-indent: 14.15pt; line-height: 11pt; vertical-align: middle; text-align: justify;">
	<br />
	<span style="font-size: 9.5pt;">SAP helps you eliminate high integration costs and the need to purchase third-party software. It helps you leverage preset defaults and pre-packaged versions available for specific industries. It also links employees performance to compensation programmes such as variable pay plans and long-term incentives; and at the same time gives employees new ways to access the enterprise information required for their daily activities. </span></div>
<div style="margin-bottom: 0.0001pt; text-indent: 14.15pt; line-height: 11pt; vertical-align: middle; text-align: justify;">
	<br />
	<span style="font-size: 9.5pt;">To meet the business needs of the 21st century, every aspiring company needs the element that pulls it together and integrates it in such a proficient way that it is able to foresee all opportunities and identify every minuscule of apprehension to make proactive decisions. To ensure solid productivity in today's competitive market, every company needs to be in a position from where it can make the optimum use of all its existing resources. <br />
	<br />
	</span></div>
<div style="text-align: justify;">
	<span style="font-size: 9.5pt; line-height: 115%;">Using SAP means; being in a position to exactly do that. In brief terminologies, it means increasing profitability, improving financial control and reducing risks; thereby putting your company in the centre stage of a high yielding market.<br />
	<br />
	<br />
	</span></div>',
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			'title' => 'Poverty, Inequality And Growth-some Lessons',
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	<span style="font-size:12px;"><i><span style="line-height: 120%;"><img align="left" alt="economy" border="1" height="129" hspace="5" src="http://newbusinessage.com/ckfinder/userfiles/Images/kamal raj.jpg" style="margin:10px;padding:10px;" vspace="5" width="100" />By Dr Kamal Raj Dhungel<br />
	<br />
	</span></i></span></div>
<div style="margin-bottom: 0.0001pt; text-align: justify; line-height: 11pt; vertical-align: middle;">
	<span style="font-size:12px;">The liberalisation policy in china is in effect since the end of 1970s. India has followed the same path since the beginning of 1990s. This resulted in tremendous progress, sustained growth and increased wealth in both China and India. Both the countries were characterised by mass poverty before the period of economic reform.&nbsp;Today, China has reduced the number of people under poverty to mere 2.8 per cent down from 64 per cent in 1981. Similar is the case of India. According to the government estimate, approximately 28 per cent of population is living below the poverty line down from 51 per cent in 1977/78. It reveals that people have tasted the fruits of economic progress resulting from economic reforms.&nbsp;</span></div>
<div style="margin-bottom: 0.0001pt; text-align: justify; line-height: 11pt; vertical-align: middle;">
	<span style="font-size:12px;"><br />
	<br />
	</span></div>
<div style="margin-bottom: 0.0001pt; text-align: justify; text-indent: 14.15pt; line-height: 11pt; vertical-align: middle;">
	<span style="font-size:12px;">Let's now look at the context of poverty reduction in China and India. The liberalisation of their economies have instigated tremendous progress, sustained growth and increased wealth with rapid industrialisation. They are achieving high economic growth rate above 9 per cent per annum. It has produced multiplier effect in their economies. They are investing their resources in the construction of infrastructure and establishment and promotion of basic industries. The private sector investment has been mushrooming. This has created sufficient employment opportunities within the country to the increased size of labour force. This provides opportunities to the poor people to improve their living condition and hence both countries have met the goal of poverty reduction in the same momentum though the degree and extent of it is different. Income, health and education of the people are gradually improving which results in the improvement of the human development index. Nepal's estimated incidence of poverty is at 30.9 per cent today down from 45 per cent in the mid 1990s. In terms of poverty reduction, al the three countries under consideration have the same trend over the same period of time. China and India have adequate reason to explain how poverty there has come down as they are achieving rapid economic growth rate.&nbsp;But in Nepal poverty has surprisingly come down when its economic growth rate is deteriorating. This makes the people doubt at the authenticity of the poverty reduction data. </span></div>
<div style="margin-bottom: 0.0001pt; text-align: justify; text-indent: 14.15pt; line-height: 11pt; vertical-align: middle;">
	<span style="font-size:12px;"><br />
	<br />
	</span></div>
<div style="margin-bottom: 0.0001pt; text-align: justify; text-indent: 14.15pt; line-height: 11pt; vertical-align: middle;">
	<span style="font-size:12px;">Nepal also has the same story of economic liberalisaiton but with different outcomes. Policy of liberalisation has been initiated since the middle of 1980s albeit it has been gaining momentum only after 1990. As an effect of this policy, a large number of public enterprises were dismantled in the name of privatisation. They had produced basic goods like shoes, sugar, agricultural tools, clothes and paper etc. In the past, these industries made a significant contribution in the economy in terms of consumption, income and employment. But today they have vanished. It means those industries whose management had been transferred to the private sector are not in operation currently.&nbsp;The demand of the goods produced by these industries is being fulfilled by imports. The numbers of persons employed in these industries have become unemployed.&nbsp;Some of them have either migrated to foreign countries in search of employment. Others have remained unemployed. There is no doubt that liberalisation can play an important role in economic development. It can attract, promote and encourage private sector investment, both foreign and domestic in the development of overall economy, particularly in the manufacturing sector.&nbsp;But the manner in which Nepal has been exercising economic policy reform seems clearly unsustainable and making gloomy environment for private investment.&nbsp;Instead, it encourages opening up a large number of cosy dance restaurants in different urban centres of Nepal through private sector investment.&nbsp;Similar is the case of investment of private sector in education and health as private schools, colleges and nursing homes including private hospitals are mushrooming. They provide service only to a small fraction of population who are wealthier.&nbsp;It creates discrimination among the citizens in terms of social service. Clearly, the nation has been producing two categories of future manpower: a superior workforce which graduates from private schools and an inferior one that graduates from public schools. Majority of students who graduate from private schools are migrating to developed countries. </span></div>
<div style="margin-bottom: 0.0001pt; text-align: justify; text-indent: 14.15pt; line-height: 11pt; vertical-align: middle;">
	<span style="font-size:12px;"><br />
	<br />
	</span></div>
<div style="margin-bottom: 0.0001pt; text-align: justify; text-indent: 14.15pt; line-height: 11pt; vertical-align: middle;">
	<span style="font-size:12px;"><img align="left" alt="Real GDP growth rate during 2006-10" border="1" height="197" hspace="5" src="http://newbusinessage.com/ckfinder/userfiles/Images/groth rate.jpg" style="width: 318px; height: 197px;margin:10px;padding:10px;" vspace="5" width="318" />The failure of economic policy particularly after 1990 is reflected in the overall progress of the Nepali economy. In the initial stages of liberalisation, the growth rate of Nepali economy was encouraging to some extent. But it became disappointing gradually. The trend of Nepal's economic growth rate is not only disappointing but also humiliating (see chart ). The fruit of this growth did not reach people who were the main pillars in restoring democracy in 1990 and beyond. It means the distribution of national income among its citizens has been skewed.&nbsp;Since the decade of 1990s, corruption has become rampant. Anti-corruption mechanisms have been made ineffective. The living standard of the richest 10 per cent has been increasing over the years while that of the rest is deteriorating.<br />
	<br />
	<br />
	</span></div>
<div style="margin-bottom: 0.0001pt; text-align: justify; text-indent: 14.15pt; line-height: 11pt; vertical-align: middle;">
	<span style="font-size:12px;">&nbsp;The present economic growth rate, as seen in the chart, is declining over the years. It is barely enough to feed the population which is growing at the rate of 2.24 per cent per year. For the mass of people, hunger is routine, malnutrition rife, employment insecure, social security non-existent, health care expensive and livelihoods under threat. Youths are migrating to foreign countries and are supposed to send remittance by putting their lives at risk. As expected, remittance plays a vital role in providing livelihood to the people of Nepal. This is also giving an opportunity to the elite of Nepal to set up large number of banking businesses. But its contribution to economic growth seems insignificant. Today, Nepali people are experiencing banking business next door to their residence.&nbsp;It indicates that the growth of monetary sector (particularly of the institutions dealing with money) in recent years have been increasing while the growth rate of real sector is declining.&nbsp;It seems there is a weak association between the growth of monetary and real sectors. Practically speaking, for a healthy and balanced economic development, there should be a strong correlation between them. In addition, private sector investment has been growing in the construction of large apartments and residential buildings and opening up of departmental stores. This provides a major market for investment by the banks. This shows that the current trend of economic activities in which the investments are pouring is not sustainable.&nbsp;These activities would sustain for a longer period only when the country achieves high economic growth.</span></div>
<div style="margin-bottom: 0.0001pt; text-align: justify; text-indent: 14.15pt; line-height: 11pt; vertical-align: middle;">
	<span style="font-size:12px;"><br />
	<br />
	</span></div>
<div style="margin-bottom: 0.0001pt; text-align: justify; text-indent: 14.15pt; line-height: 11pt; vertical-align: middle;">
	<span style="font-size:12px;">The ways in which our national income has been distributed irrespective of its shape and size among the citizens stands to cause devastating consequences. It can create social tensions and make the rich even richer. The unjust distribution of the fruits of democracy during 1990s has left us a great liability whose effect of course had been spreading all over the country. The nation has already lost over 13,000 lives. Despite such a huge loss of lives, the inequality today is still rising. The income gap between the rich and poor is more intense.&nbsp;Gini index with value between 0 and 1 (0 for perfect equality and 1 for perfect inequality) is used to measure the inequality in the distribution of income and wealth. At present, Nepal's Gini index a gauge of income gap, is 0.47. This index of 0.4 percent is considered a warning line Exceeding this mark signifies that the biggest part of the wealth cake is enjoyed by a minority. If the Gini index points below 0.2, income distribution is highly balanced, between 0.2 and 0.3 is a relatively balanced distribution, 0.4 and 0.5 means that the distribution is being largely spread &nbsp;and if it reaches 0.5, then, distribution is highly unbalanced. Nepalâ€™s Gini index is nearly 0.5 and it means the biggest part of the nation's income goes to only a few. It is because of the lack of equal access to opportunities. Opportunities inside the country are rare. Whatever opportunities are thesre inside the country, they are available only to those who are related with the powerful. Opening up the opportunities in most public sectors like police, military and civil service are not going to help as even such opportunities open other avenues for the powerful people for corruption. It indicates that the powerful and influential persons have hijacked opportunities, benefits, public spaces, shared resources, economic rights and political processes.<br />
	<br />
	<br />
	</span></div>
<div>
	<span style="font-size:12px;"><i><span style="line-height: 115%;">(Dr Dhungel is a Professor of Economics at Tribhuvan University, Kathmandu. He can be reached via email at </span></i><a href="mailto:kamal.raj.dhungel@gmail.com"><i><span style="line-height: 115%;">kamal.raj.dhungel@gmail.com</span></i></a><i><span style="line-height: 115%;">)</span><br />
	</i></span></div>
<div>
	<span style="font-size:12px;"><i>&nbsp;</i></span></div>',
			'published' => true,
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			'description' => 'The liberalisation policy in china is in effect since the end of 1970s. India has followed the same path since the beginning of 1990s.',
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			'id' => '304',
			'article_category_id' => '38',
			'title' => 'Developing Job Ownership: Key To Business Success',
			'sub_title' => '',
			'summary' => null,
			'content' => '<div style="margin-bottom: 0.0001pt; line-height: 120%; vertical-align: middle;">
	<i><span style="font-size: 8pt; line-height: 120%;"><img align="left" alt="" border="2" hspace="2" src="http://newbusinessage.com/ckfinder/userfiles/Images/rabindra karna.jpg" style="width: 98px; height: 130px;" vspace="1" />By Dr Rabindra Karna</span></i></div>
<div style="margin-bottom: 0.0001pt; text-align: justify; line-height: 11pt; vertical-align: middle;">
	<span style="font-size: 9.5pt;">Most people want to feel proud about their work and feel better for having performed to the satisfaction of business needs. While accepting assignments, projects or jobs they do so with with the sense of ownership. These are really professional people. They deal with others with a clear understanding of interdependence and give due consideration and respect to other departments, sections or functions.</span></div>
<div style="margin-bottom: 0.0001pt; text-align: justify; line-height: 11pt; vertical-align: middle;">
	Â </div>
<div style="margin-bottom: 0.0001pt; text-align: justify; text-indent: 14.15pt; line-height: 11pt; vertical-align: middle;">
	<span style="font-size: 9.5pt;">Job ownership by an employee plays crucial role for business success in todayâ€™s competitive global market. Businesses need continued progress in product development. Unless the people take this responsibility of product development with the sense of ownership, they will not put into it their full knowledge and experience and efforts. As a result, competitive advantage benefits will keep missing for all stake holders: the employee, the company, the customers and the investors. </span></div>
<div style="margin-bottom: 0.0001pt; text-align: justify; text-indent: 14.15pt; line-height: 11pt; vertical-align: middle;">
	Â </div>
<div style="margin-bottom: 0.0001pt; text-align: justify; text-indent: 14.15pt; line-height: 11pt; vertical-align: middle;">
	<span style="font-size: 9.5pt;">Anything consistently continued for a longer period will certainly convert into guaranteed success. Though many management scientists argue that â€™success in the life is not difficult to achieveâ€™, continuous move towards the destination is essential to achieve success. Money has never been the highest motivating factor for human resources at a work place. The most common motivators are security, work-life balance, efficiency, learning opportunity and recognition against efforts one puts for business success. </span></div>
<div style="margin-bottom: 0.0001pt; text-align: justify; text-indent: 14.15pt; line-height: 11pt; vertical-align: middle;">
	Â </div>
<div style="margin-bottom: 0.0001pt; text-align: justify; text-indent: 14.15pt; line-height: 11pt; vertical-align: middle;">
	<span style="font-size: 9.5pt;">Simultaneously, the most acknowledged motivator for business owners or investors is emotional attachment. Success and failure are mostly immaterial for them because failure is considered the only way to learn, in business. The challenge for them is not the knowledge but the work ethics, values and consistency to get results. This is called ownership mentality and the same applies for employees with job ownership attitude. </span></div>
<div style="margin-bottom: 0.0001pt; text-align: justify; text-indent: 14.15pt; line-height: 11pt; vertical-align: middle;">
	Â </div>
<div style="margin-bottom: 0.0001pt; text-align: justify; text-indent: 14.15pt; line-height: 11pt; vertical-align: middle;">
	<span style="font-size: 9.5pt;"><img align="left" alt="" border="2" hspace="2" src="http://newbusinessage.com/ckfinder/userfiles/Images/key.jpg" style="width: 238px; height: 340px;" vspace="1" />During recruitment phase, interviews are mostly centred on prospective and anticipated relationships. The standard contract is imposed on the employee as soon as an agreement is reached. However, it mostly escapes â€™detailing position and job profileâ€™. The fact remains that the actual rights and duties of employees emerge through interpersonal relationships built at the workplace during the course of working together. Hence, psychological contract becomes eminent to match one anotherâ€™s expectations contributing to higher level of performance and satisfaction. As long as common understanding and agreement in respect to the business mission, values, loyalty and respect exists between an employee and the employer, trust and commitment remain ensured. The relationship, if managed efficiently and effectively, will tie a stronger knot of mutual trust between the employer and employee matching the objectives and commitments necessary for business prosperity. In case it turns negative, it may result in disenchantment, de-motivation and resentfulness of authoritarianism within the organisation resulting in inefficient work, internal units not corresponding to the mission and objectives of the organisation and much more.</span></div>
<div style="margin-bottom: 0.0001pt; text-align: justify; text-indent: 14.15pt; line-height: 11pt; vertical-align: middle;">
	Â </div>
<div style="margin-bottom: 0.0001pt; text-align: justify; line-height: 11pt; vertical-align: middle;">
	<b><span style="font-size: 9.5pt;">The words â€™employeesâ€™ or â€™Staffâ€™, to the extent of psychological contract, signify:</span></b></div>
<div style="margin: 0in 0in 0.0001pt 9pt; text-align: justify; text-indent: -9pt; line-height: 11pt; vertical-align: middle;">
	<span style="font-size: 9pt; color: black;">&nbsp;</span><span style="font-size: 9pt;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Employersâ€™ behaviour and dealing with employees</span></div>
<div style="margin: 0in 0in 0.0001pt 9pt; text-align: justify; text-indent: -9pt; line-height: 11pt; vertical-align: middle;">
	<span style="font-size: 9pt;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Employeesâ€™ input to the job they are entrusted or hired for</span></div>
<div style="margin-bottom: 0.0001pt; text-align: justify; text-indent: 14.15pt; line-height: 11pt; vertical-align: middle;">
	<span style="font-size: 9.5pt;">Respect, trust, fairness and objectivity are equally important in a job because job holders like these are essential for a civilised society in general. From a wider perspective, these become complex and significant at workplace and especially in management practices mainly towards â€™change managementâ€™.</span></div>
<div style="margin-bottom: 0.0001pt; text-align: justify; text-indent: 14.15pt; line-height: 11pt; vertical-align: middle;">
	Â </div>
<div style="margin-bottom: 0.0001pt; text-align: justify; text-indent: 14.15pt; line-height: 11pt; vertical-align: middle;">
	<span style="font-size: 9.5pt;">The employer and employee relationship has grown in complexity with the emergence or growth of globalised skills market allowing very high mobility of people resources. Leadership is basically seen as representing the organisation and that reflects the aim and purposes of the organisation owners. Leadership in this context refers to the top management associates like Business Head, CEO etc.&nbsp;The nature of the relationship in transactional analysis is different to one that is limited to employee and employer. However, itâ€™s significant in terms of agreeing on mutual transparent expectations. Further, the management and organisational principles heavily depend on fair and balanced understandings between the employer and employee. </span></div>
<div style="margin-bottom: 0.0001pt; text-align: justify; text-indent: 14.15pt; line-height: 11pt; vertical-align: middle;">
	Â </div>
<div style="margin-bottom: 0.0001pt; text-align: justify; text-indent: 14.15pt; line-height: 11pt; vertical-align: middle;">
	<span style="font-size: 9.5pt;">Peopleâ€™s lives have become more varied, informed and better placed in recent days with the achievement of rapid growth by many economies. Human capital around the globe is equipped more with high awareness and hence, it not only wants more but also deserves more. Therefore, the employees naturally expect greater fulfilment in return for their services or association. The work itself has become far more richly diverse and complicated than ever before. </span></div>
<div style="margin-bottom: 0.0001pt; text-align: justify; text-indent: 14.15pt; line-height: 11pt; vertical-align: middle;">
	Â </div>
<div style="margin-bottom: 0.0001pt; text-align: justify; text-indent: 14.15pt; line-height: 11pt; vertical-align: middle;">
	<span style="font-size: 9.5pt;">There is an increased excitement in the work place these days. The excitement is because of the application of different business model named â€™employee ownershipâ€™ in corporations and cooperatives wherein employees and potentially the customers own the organisation and can therefore represent management mechanism. We see and experience glimpses here possibly as to how organisations might be run more fairly and sustainably in days to come. Globalisation and technology in recent days have shifted everything we knew in relation to organised work onto a totally different level in terms of complexity, rate of change, connectivity and the mobility of human resources and activities.</span></div>
<div style="margin-bottom: 0.0001pt; text-align: justify; text-indent: 14.15pt; line-height: 11pt; vertical-align: middle;">
	Â </div>
<div style="margin-bottom: 0.0001pt; text-align: justify; text-indent: 14.15pt; line-height: 11pt; vertical-align: middle;">
	<span style="font-size: 9.5pt;">Thus, if organisations truly want to make innovations, creating and encouraging job ownership is the key. This ownership is the investment from both the company (funding, balanced work culture) and the employee (time, knowledge, commitment) by allowing and generating acceptance as well as securing achievement towards personal responsibility for products, processes and different stakeholders involved with the organisation. Job ownership reflects business understanding in view of culture, goal, and customers etc facilitating interactions with various elements widely known as interpersonal skills. It forces people to display a selfless attitude ensuring and delivering not only acceptable but better, improved and acknowledgeable productivity.</span></div>
<div style="margin-bottom: 0.0001pt; text-align: justify; text-indent: 14.15pt; line-height: 11pt; vertical-align: middle;">
	Â </div>
<div style="margin-bottom: 0.0001pt; text-align: justify; text-indent: 14.15pt; line-height: 11pt; vertical-align: middle;">
	<span style="font-size: 9.5pt;">Getting people to think and act like owners has never been easy and hence, if employees accept and take up jobs considering themselves as owners, it must be considered a great achievement. Employees are motivated further in view of sustainability onto business expectations. Involving employees in decision making requires entrepreneurs to seek input from employees and must listen to them.&nbsp;The solution really lies in making them part of decision making. </span></div>
<div style="margin-bottom: 0.0001pt; text-align: justify; text-indent: 14.15pt; line-height: 11pt; vertical-align: middle;">
	Â </div>
<div style="margin-bottom: 0.0001pt; text-align: justify; text-indent: 14.15pt; line-height: 11pt; vertical-align: middle;">
	<span style="font-size: 9.5pt;">Ultimately, itâ€™s all about people and taking care of people resources for better productivity in terms of business sustainability. Promoting job ownership and acceptance in the true sense will certainly guarantee the realisation of organisational mission, goal and objectives. </span></div>
<div>
	<i><span style="font-size: 9.5pt; line-height: 115%;">(Dr Karna is the Executive Chairman of MARK Business Solutions Pvt Ltd and Ad Abhyas Marketing &amp; Communications Pvt Ltd. The article is based on various research reports and his practical experiences as management practitioner.)</span></i></div>',
			'published' => true,
			'created' => '2011-05-31',
			'modified' => '2011-06-03',
			'keywords' => '',
			'description' => 'Most people want to feel proud about their work and feel better for having performed to the satisfaction of business needs.',
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		'Article' => array(
			'id' => '302',
			'article_category_id' => '50',
			'title' => 'Feedback May 2011',
			'sub_title' => '',
			'summary' => null,
			'content' => '<div style="margin-bottom: 0.0001pt; text-align: justify; line-height: 11pt; vertical-align: middle;">
	<span style="font-size:12px;"><strong>Federalism Is In <br />
	</strong><br />
	<br />
	<img align="left" alt="" border="1" height="299" hspace="5" src="http://newbusinessage.com/ckfinder/userfiles/Images/cover story.jpg" style="width: 227px; height: 299px;margin:10px;padding:10px;" vspace="5" width="227" /><br />
	Federalism is of prime importance given the current political circumstances. Unfortunately, we don;t hear about it being debated or discussed at the policy making level by the people who matter the esteemed law makers of the country. Therefore, it was good to have it covered as the cover story in the April issue of New Business Age which shed light on the fiscal face of federalism in Nepal.<br />
	<br />
	<br />
	</span></div>
<div style="margin-bottom: 0.0001pt; text-align: justify; text-indent: 14.15pt; line-height: 11pt; vertical-align: middle;">
	<span style="font-size:12px;">The politicians till now used federalism to their advantage by manipulating the ethnic sentiments of the countrymen. The federalism that would really give people the fruit of prosperity, rights and recognition is not even pronounced by the law makers. They are busy playing the political musical chair. The fiscal aspect of federalism needs a thorough discussion at the policy making level. The new constitution that is going to be promulgated sooner or later needs to incorporate federalism as the country has already been pronounced a federal republic. <br />
	<br />
	</span></div>
<div style="margin-bottom: 0.0001pt; text-align: justify; text-indent: 14.15pt; line-height: 11pt; vertical-align: middle;">
	<span style="font-size:12px;"><br />
	</span></div>
<div style="margin-bottom: 0.0001pt; text-align: justify; text-indent: 14.15pt; line-height: 11pt; vertical-align: middle;">
	<span style="font-size:12px;">Until now, federalism has not become more than an emotional bait to win the sentiments of different communities that have fallen back in the race of mainstreaming. The devolution of states based on ethnicity is the example of that principle. The ethnicity-based federalism is a slogan raised by political parties for cheap popularity. In the end, it is not going to meet the expectations of the ethnic communities. Experts opine that ethnic federalism is a suicidal approach.</span></div>
<div style="margin-bottom: 0.0001pt; text-align: justify; text-indent: 14.15pt; line-height: 11pt; vertical-align: middle;">
	<span style="font-size:12px;"><br />
	<br />
	</span></div>
<div style="margin-bottom: 0.0001pt; text-align: justify; text-indent: 14.15pt; line-height: 11pt; vertical-align: middle;">
	<span style="font-size:12px;">Overall development must be an agenda and the major goal of federalism. Economic base is something that cannot be taken lightly while devolving the states. The map should be sketched in a manner that would equally and justly divide resources among states to guarantee the autonomy of the state nations. Lawmakers should not delay discussing such important aspects.</span></div>
<div style="margin-bottom: 0.0001pt; text-align: justify; text-indent: 14.15pt; line-height: 11pt; vertical-align: middle;">
	<span style="font-size:12px;"><br />
	<br />
	</span></div>
<div style="text-align: justify;">
	<span style="font-size:12px;"><span style="line-height: 115%;">The world has witnessed the failure of many nation states. We cannot be assured that, as a country, we are going to be an exception. We must look to divide states in a way that they can sustain on their own and meet their economic needs. Otherwise, we may be left to blame ourselves for the failure of federalism that we hold high expectations from. Lawmakers should now concentrate on the country's development rather than spending their time and energy to save their jobs as Constituent Assembly Member by indefinitely extending it without an end result.<br />
	<br />
	</span></span></div>
<div style="margin-bottom: 0.0001pt; text-align: justify; line-height: 11pt; vertical-align: middle;">
	<span style="font-size:12px;"><b>- Bibash Aryal</b></span><br />
	Paknajole, Kathmandu<br />
	 </div>
<div style="text-align: justify;">
	<p style="text-align: center;">
		<span style="font-size:12px;"><b><span style="line-height: 115%;"><br />
		<br />
		---------------------------------------------------------------------------------------------------------------<br />
		<br />
		<br />
		<br />
		</span></b></span></p>
	<div style="text-indent: 0in; text-align: justify;">
		<span style="font-size:12px;"><span style="color: rgb(0, 0, 0);"><strong>The Divided Business Community</strong><br />
		<br />
		The Biztoon in your New Business Age's April issue caught my attention. It raised a question as to who actually represents the business community. The business community in Nepal is responsible for creating jobs for thousands. The contribution to the economy made by the private sector is definitely praiseworthy. It currently lacks a favourable investment climate. The aspiring and emerging entrepreneurs can do wonders if the business leadership can lead the community competitively. Some industrialists have become parliament members in the hope of representing the business fraternity only to get entangled in world of messy politics themselves. In this regard, the umbrella association of the business community, FNCCI, must set an example and lead the community to unprecedented economic development. It's a relief that the FNCCI elections are over. I hope that no two (or are there more?) panels exist now and the elected executive committee will work for a common agenda.<br />
		<br />
		</span></span></div>
	<div style="margin-bottom: 0.0001pt; text-align: justify; line-height: 11pt; vertical-align: middle;">
		<span style="font-size:12px;"><span style="color: rgb(0, 0, 0);"><b>- Basanta Sharma</b></span></span></div>
	<div style="text-align: justify;">
		<span style="font-size:12px;"><span style="color: rgb(0, 0, 0);"><b><span style="line-height: 115%;">New Road<br />
		<br />
		<br />
		</span></b></span></span></div>
	<p style="text-align: center;">
		 </p>
	<p style="text-align: center;">
		<span style="font-size:12px;"><b><span style="line-height: 115%;">---------------------------------------------------------------------------------------------------------------</span></b></span><br />
		<span style="font-size:12px;"> <br />
		<br />
		<br />
		<b><span style="line-height: 115%;"> <br />
		</span></b></span></p>
</div>',
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			'description' => 'Federalism is of prime importance given the current political circumstances. Unfortunately, we don't hear about it being debated or discussed at the policy making level by the people who matter the esteemed law makers of the country.',
			'sortorder' => '227',
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			'title' => 'Feedback April 2011',
			'sub_title' => '',
			'summary' => null,
			'content' => '<p>
	<strong>Make The Most Of The Sun</strong></p>
<div style="text-align: justify;">
	<p class="MsoNormal" style="margin-bottom: 0.0001pt; text-align: justify; text-indent: 14.15pt; line-height: 11pt; vertical-align: middle;">
		<span style="font-size: 12px;"><span style="font-family: "><br />
		I</span><span style="">n Nepal, we are fortunate to have sunshine round the year. Rajan Pradhan in his article, Producing Energy, the Solar Way in the March issue of New Business Age has written that Nepal has the potential of producing 26,000 Mega Watts of solar energy. Going by this account, we are rich in this alternate source of power besides the usual and much promised hydropower.<br />
		<br />
		</span></span></p>
	<p class="MsoNormal" style="margin-bottom: 0.0001pt; text-align: justify; text-indent: 14.15pt; line-height: 11pt; vertical-align: middle;">
		<span style="font-size: 12px;"><span style="font-family: ">Though we have resources, we are people who are forced to spend our lives in darkness, for most part of the day and night. Power cut reaching up to 18 hours a day is a pathetic state-of-affairs, to say the least. It seems we are training ourselves to live without electricity. Since the successive governments have failed oh-so-miserably in providing a solution, the time has come for us people to take the matter in our own hands and start generating power ourselves. <br />
		<br />
		</span></span></p>
	<p class="MsoNormal" style="margin-bottom: 0.0001pt; text-align: justify; text-indent: 14.15pt; line-height: 11pt; vertical-align: middle;">
		<span style="font-size: 12px;"><span style="font-family: ">Business houses and industries have started doing so. Most of the households too have made their arrangement of UPS or invertors. However, very few have thought about installing solar power. As Pradhan observes it could be due to the high EMI on loan. Though it might seem expensive for first time installation, it is relatively cheaper over the long term. Solar panel can meet daily power needs and save on outrageous monthly electricity bills. I personally have seen this in villages where households have installed solar panels before electrification reached them. Despite electricity authority reaching them now, they refuse to subscribe to conventional power as they are happy with their existing arrangement. The solar electricity produced in households can even be supplied to the national grid like in the European countries if adequate provisions can be made. <br />
		<br />
		</span></span></p>
	<p class="MsoNormal" style="text-align: justify;">
		<span style="font-size: 12px;"><span style="line-height: 115%; font-family: ">The government must think about providing subsidies and soft loans and introduce special schemes to those who want to use the alternative energy which is also eco friendly and easily available. Either the government must end the power crisis immediately or help people install the solar option.</span></span></p>
	<p style="text-align: justify;">
		 </p>
	<p class="MsoNormal" style="margin-bottom: 0.0001pt; text-align: justify; line-height: 11pt; vertical-align: middle;">
		<span style="font-size: 12px;"><b><span style="font-family: ">- Surya Chapagain</span></b></span></p>
	<p class="MsoNormal" style="text-align: justify;">
		<span style="font-size: 12px;"><b><span style="line-height: 115%; font-family: ">Satdobato</span></b></span></p>
	<p class="MsoNormal" style="text-align: center;">
		 </p>
	<p class="MsoNormal" style="text-align: center;">
		<span style="font-size: 12px;"><b>----------------------------------------------------------------------------------------------------------------------------------------------------------------------------</b></span><span style="font-size: 16px;"><strong><span style="line-height: 115%; font-family: "> <br />
		</span></strong></span></p>
	<p style="text-align: center;">
		 </p>
	<p class="BODYTEXT" style="text-align: justify; text-indent: 0in;">
		<span style="font-size: 16px;"><strong><span style="font-family: ">Stop Terrorising Businesses<br />
		<br />
		</span></strong></span></p>
	<p class="BODYTEXT" style="text-indent: 0in; text-align: justify;">
		<span style="font-size: 12px;"><span style="color: rgb(182, 21, 31);">N</span>epal is experiencing a slow pace of economic growth and even slower industrialisation. The power woes and unstable political environment are impeding the countryâ€™s growth. Business houses always emphasise that stable political situation and lasting peace and security are imperative for industrialisation. An investment friendly environment cannot be created without a stable socio political environment. <br />
		<br />
		</span></p>
	<p class="BODYTEXT" style="text-align: justify;">
		<span style="font-size: 12px;">In the last week of March, we have seen fresh cases of impunity in the Terai where most industries are located. Such incidences would affect businesses and investor psychology about the future.&nbsp; This would further derail the process of economic growth.&nbsp; Such activities are adding pressure to the already existing troubles. The concerned groups must start thinking about the nation and economic prosperity. Everybody needs to understand that without the development of industries and private sector, Nepal cannot tread on the path of sustainable growth and development.</span></p>
	<p style="text-align: justify;">
		 </p>
	<p class="MsoNormal" style="margin-bottom: 0.0001pt; text-align: justify; line-height: 11pt; vertical-align: middle;">
		<span style="font-size: 12px;"><b><span style="font-family: ">- Narayan Prasad Adhikari</span></b></span></p>
	<p class="MsoNormal" style="text-align: justify;">
		<span style="font-size: 12px;"><b><span style="line-height: 115%; font-family: ">Chitwan</span></b></span></p>
	<p style="text-align: center;">
		 </p>
	<p class="MsoNormal" style="text-align: center;">
		<span style="font-size: 12px;"><b>----------------------------------------------------------------------------------------------------------------------------------------------------------------------------</b></span></p>
	<p class="MsoNormal" style="text-align: justify;">
		<span style="font-size: 12px;"><b><span style="line-height: 115%; font-family: "><br />
		</span></b></span></p>
	<p style="text-align: justify;">
		 </p>
	<p class="BODYTEXT" style="text-align: justify; text-indent: 0in;">
		<span style="font-size: 16px;"><strong><span style="font-family: ">Banks Must Get More Responsible</span></strong></span></p>
	<p class="BODYTEXT" style="text-indent: 0in; text-align: justify;">
		<span style="font-size: 12px;"><span style="color: rgb(182, 21, 31); letter-spacing: -0.1pt;">T</span><span style="letter-spacing: -0.1pt;">he cover story on banking industry in your March issue portrayed a detailed picture of this sector. The growth of the banking and financial institutions is a good thing but their limited reach to the rural areas is a worrisome attribute. <br />
		</span></span></p>
	<p class="BODYTEXT" style="text-align: justify;">
		<span style="font-size: 12px;"><span style="letter-spacing: -0.1pt;">Time and again, there are issues of banks and finance companies failure. Recent examples include Samjhana Finance and Gurkha Development Bank. Some might say this is bound to happen given the crowd of 272 banks and financial institutions. But this is not something that cannot be controlled. The closure or failure of a bank is not comparable to the closure of a retail shop on a street corner. A financial institution's closure leaves a huge crater on the entire economy. <br />
		</span></span></p>
	<p class="BODYTEXT" style="text-align: justify;">
		<span style="font-size: 12px;"><span style="letter-spacing: -0.1pt;">&nbsp;The story rightly point out that this is a well regulated sector. However, despite such regulation and strong monitoring by the Nepal Rastra Bank, incidences of failure occur time and again. Such incidents repeating amidst central bank regulations are rather unfortunate. Most of the time, failure of corporate governance has resulted into such mishaps. Probably, some of the banks owners or the management teams do not take their institutions and the depositors seriously enough. In some cases, they themselves manage to lead the company on the verge of collapse. <br />
		</span></span></p>
	<p class="BODYTEXT" style="text-align: justify;">
		<span style="font-size: 12px;"><span style="letter-spacing: -0.1pt;">They take huge amount of loans behind the scene which later proves to be non performing loans or show investment in areas that does not give any returns. Such practices bear the potential to eventually lead the company towards bankruptcy. In the bargain, it's the depositors in particular and the economy in general which stands to suffer. The report shows Rs 15 billion as the negative net worth of just two banks. This is a ticking time bomb that may explode any time. <br />
		</span></span></p>
	<p class="BODYTEXT" style="text-align: justify;">
		<span style="font-size: 12px;"><span style="letter-spacing: -0.1pt;">So, the regulations may not prove to be successful every time. Companies must maintain self- discipline, good corporate governance and realise the importance of their respective financial institutions. They must not forget theirs is not a business house only. There is tremendous responsibility on their shoulders that they must fulfill.</span></span></p>
	<p style="text-align: justify;">
		 </p>
	<p class="MsoNormal" style="margin-bottom: 0.0001pt; text-align: justify; line-height: 11pt; vertical-align: middle;">
		<span style="font-size: 12px;"><b><span style="font-family: ">- Samiksha Budhathoki</span></b></span></p>
	<p class="MsoNormal" style="text-align: justify;">
		<span style="font-size: 12px;"><b><span style="line-height: 115%; font-family: ">Gairigaun, Kathmandu</span></b></span></p>
	<p style="text-align: justify;">
		 </p>
	<br />
	<span style="font-size:12px;"><b> <br />
	</b></span></div>',
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			'keywords' => '',
			'description' => 'Now, the governance is not limited to the way how the state and bureaucracy functions. This is something which is gaining popularity among the corporate houses too.',
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			'id' => '299',
			'article_category_id' => '42',
			'title' => 'CDS Charms Low; Stock Negative',
			'sub_title' => '',
			'summary' => null,
			'content' => '<div style="margin-bottom: 0.0001pt; line-height: 120%; vertical-align: middle; text-align: justify;">
	<i><span style="font-size: 8pt; line-height: 120%;"><img align="left" alt="stocktaking" border="1" height="127" hspace="5" src="http://newbusinessage.com/ckfinder/userfiles/Images/bikram.jpg" style="width: 105px; height: 127px;margin:10px;padding:10px;" vspace="5" width="105" />By Bikram Chitrakar</span></i></div>
<div style="text-align: justify;">
	<br />
	 </div>
<div style="text-indent: 0in; text-align: justify;">
	<span style="font-size: 14px;">T</span><span style="font-size: 8pt;">he Nepali share market had a lacklustre performance also in the month during March 20-April 19 despite the inauguration of eagerly awaited Central Depository System and Clearing Ltd. Also the prospect of good third quarter financial results did not help the market sentiment. The benchmark NEPSE index dropped 15.16 points or 4.16% to settle at 364.3 points. The session's highest was on 21 March with 379.46 while the session's lowest was on 29 March with 358.04.<br />
	<br />
	<br />
	</span></div>
<div style="text-align: justify;">
	<span style="font-size: 8pt; letter-spacing: -0.05pt;">Central Depository System (CDS) and Clearing Ltd was formally inaugurated on 31 March, 2011 which was keenly expected by the investors of Nepal. Despite its opening, the market could not take off as investors were more worried about the scenario after the May 28 deadline for promulgation of the countryâ€™s new constitution lapses. </span></div>
<div style="text-align: justify;">
	<br />
	 </div>
<div style="text-align: justify;">
	<span style="font-size: 8pt;">The automated system of CDS will facilitate speedy and safe clearing and settlement of transactions. The safety and security of the digital holding of shares will eliminate fraud and misuse of share certificates while the flow of shares will increase in the market due to instant transfer. One reaction of the market to the new development is that heavy volume of scrip was traded through matching , particularly towards the first half of April. The trade volume during the period was higher than the average despite the index closing at a lower level. The increased cases of matching during this period is explained by the fact that matching is going to be difficult under the CDS system. Therefore, the investors who had bought shares in the IPOs under fictitious names were transferring such shares on their real names and in doing so they pressed the prices lower to reduce the capital gains tax.&nbsp;</span></div>
<div style="text-align: justify;">
	<br />
	 </div>
<div style="text-align: justify;">
	<span style="font-size: 8pt; letter-spacing: -0.1pt;">Securities Board of Nepal (SEBON) organised an interaction programme during the month about the regulation it has drafted to allow setting up credit rating agencies in Nepal. This draft now needs to be approved by the Ministry of Finance beofre they can go for implementation. After the establishment of these agencies, the issues (IPO, rights) exceeding Rs. 100 million size will have to be rated by such agencies before they are floated to the public. </span></div>
<div style="text-align: justify;">
	<br />
	 </div>
<div style="text-align: justify;">
	<br />
	 </div>
<div style="text-align: justify;">
	<strong><span style="font-size: 8pt;">Performance by Sector<br />
	<br />
	<br />
	</span></strong></div>
<div style="text-align: justify;">
	<span style="font-size: 8pt; letter-spacing: -0.05pt;">Commercial banking sector that accounts for the highest volume of trade in the exchange lost 27.73 points or 9.01% to settle at 307.73. Manufacturing and processing sector dropped 25.54 points to 500.59. to close at 434.83 and 312.1 respectively. Insurance sub-indices lost 17.30 points to settle at 448.83 while finance sector plummets 5.70 points or 1.83% to close at 310.91. However, the hydropower sector gained 71.22 points or 9.80% to settle at 726.97. </span></div>
<div style="text-align: justify;">
	<br />
	 </div>
<div style="text-align: justify;">
	<span style="font-size: 8pt;">A total of Rs 492,513,784 was realised during the review period from 1,985,844 units of share trade via 30,739 transactions.</span></div>
<div style="text-align: justify;">
	<br />
	 </div>
<div style="text-align: justify;">
	<span style="font-size: 8pt;">The accompanying figure shows sector-wise distribution based on the total amount of trades. The commercial banks accounted for 44.20% whereas the insurance sector constituted 16.35% which is more than that of the finance companies which stood at 14.80%. Similarly, the development banks hold 13.80% while rest of the sectors covered the remaining portion of the trade.</span></div>
<div style="text-align: justify;">
	<br />
	 </div>
<div style="text-align: justify;">
	<span style="font-size: 8pt; letter-spacing: -0.15pt;">Technically, the Simple Moving Average (SMA) is dominating the market as both 30 days SMA and 200 Days SMA are above the trend line. It indicates possibility of a further downfall.<br />
	<br />
	<br />
	</span></div>
<div style="text-align: justify;">
	<i><span style="font-size: 8pt;">(Chitrakar is a Stock Analyst with Jamb Technologies Pvt Ltd.)</span></i></div>',
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			'description' => 'The Nepali share market had a lacklustre performance also in the month during March 20-April 19 despite the inauguration of eagerly awaited Central Depository System and Clearing Ltd.',
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			'article_category_id' => '47',
			'title' => 'An Unassuming Rana',
			'sub_title' => '',
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			'content' => '<div style="margin-bottom: 0.0001pt; text-align: justify; line-height: 120%; vertical-align: middle;">
	<b><span style="font-size: 8pt; line-height: 120%;"><img align="left" alt="rana" border="1" height="247" hspace="5" src="http://newbusinessage.com/ckfinder/userfiles/Images/personality(1).jpg" style="width: 205px; height: 247px;margin:10px;padding:10px;" vspace="5" width="205" /></span></b></div>
<div style="margin-bottom: 0.0001pt; line-height: 120%; vertical-align: middle;">
	<span style="font-size:12px;"><b><span style="line-height: 120%;">Umang SJB Rana</span></b></span></div>
<div style="margin-bottom: 0.0001pt; line-height: 120%; vertical-align: middle;">
	<span style="font-size:12px;"><span style="line-height: 120%;">CEO</span></span></div>
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	<span style="font-size:12px;"><span style="line-height: 115%;">Westar Properties<br />
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	<span style="font-size: 8pt;">Horseback rides, adventure sports and lots of fun aside, Umang Rana's disciplinarian parents ensured he learnt to respect everybody. He expresses his gratitude for the earthly values his parents instilled in him right since his childhood. </span></div>
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	<strong><i><span style="font-size: 8pt;">By Pinaki Roy<br />
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	<span style="font-size: 12px;">B</span><span style="font-size: 9.5pt;">orn into Rana aristocracy, Umang SJB Rana, the CEO of Westar Properties did not have life served on a platter for him. Not that his family couldn't afford so, it was because his parents wanted to instil earthly values in him right since his childhood. Rana expresses his gratitude for the same, I am what I am today largely because of my parents and the values they taught me.</span></div>
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	<span style="font-size: 9.5pt;">The first child of Former Deputy Inspector General of Nepal Police Rupal SJB Rana and Montessori Teacher Usha Rana, he went to Dipendra Police School (which is now Nepal Police School), Sanga. Rana considers himself blessed to have travelled the length and breadth of Nepal, Being a policeman, my father relocated frequently to different parts of Nepal. I visited no less than 13 zones myself during my school vacations.&nbsp;</span></div>
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	<span style="font-size: 9.5pt;">His father wanted at least one of his two sons to join the defence forces but young Umang had different ideas in mind. After completing his A-Level from Nagarjuna Academy and ISc from St Xavier's College, Rana left for Russia to study Civil Engineering. But he left the study midway and returned home two years later. I just couldn't complete it. I fell home sick, he admits in a near apologetic tone. Back in Nepal, he began pursuing Bachelor of Business Studies degree with specialisation in Human Resource. While still in college, Rana landed his first paid job a month long stint with Surya Tobacco Company (now Surya Nepal) for its product introduction. I was on the streets promoting the new product to the passers-by and asking them to try it. Each day, they will send me to a new location, he reminisces. </span></div>
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	<span style="font-size: 9.5pt;">An introvert since early childhood, Rana had quite a few female acquaintances but never a serious relationship. He is happily married for seven years now and has a two-year-old son. You ask him about his school friends and he goes, Most of my friends from school are settled abroad. But I do come across the ones that are still here.Rana's wife Aashmi who owns Himali Pashmina Udyog was instrumental in goading him to turn a businessman. He says, I am lucky to have her as my life partner. She inspired me to take up business for a profession.</span></div>
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	<span style="font-size: 9.5pt;">Venturing into business ended his career as a DHL executive. Rana had started out at DHL as an Assistant Operations Coordinator in 1999 and worked up the ladder to become its Country Operations Manager before he left in 2007. â€œI must say it was a rewarding career, he admits. Having travelled the entire South East Asia for his work, he had little left to achieve unless he wanted to take up a position with the company abroad. This is another factor that triggered his retirement from DHL as he did not want to move out of Nepal. After weighing several options, Rana finally decided to plunge into construction as, Apartment business was much in demand around three years ago which led to my decision to enter this line of business.One thing led to another and he entered into a technical collaboration with Westar Properties, Dubai. </span></div>
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	<span style="font-size: 9.5pt;">Rana asserts that you can call a project a success only when it gets completed. It is precisely when commitment gets delivered and a dream turns into reality. He gets a bit emotional talking about his current project Westar Residency, a Vaastu compliant high-rise apartment building at Balkumari, Lalitpur. This is my baby. I have been involved with the project from scratch and it's immensely satisfying to see it taking shape,he says. A planner, by his own admission, he recommends infrastructure as a prime importance and wants the government to ensure infrastructure development for the overall development of the country.&nbsp;</span></div>
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	<span style="font-size: 9.5pt;">He believes he was born with a golden heart, I go out of my way to help people. I guess it comes naturally to me.He is a religious person and prays for self-satisfaction. He draws inspiration from Bhagavad Gita your good actions automatically come back to you, sooner or later. Living in a joint family, he is a self-confessed homely person. He says that living in a joint family comes with a lot of advantages as well as responsibilities. On week days, it's a strict home-to-office and vice versa. He loves to catch up on movies though, with his wife and parents. He says, I am glad that there are a few good movie theatres now that we can go to.</span></div>
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	<span style="font-size: 9.5pt;">Not a party animal, he normally attends social occasions only. Late nights are a complete no-no, I don't have this urge like a lot of other people to attend the so-called happening events in town.You will usually find Rana comfortably attired. He believes in dressing for the occasion. Clad in a suit while showing around his sample flats, he can be caught wearing shorts and T-shirts in summer. At other times, he loves to wear daura-suruwal for&nbsp; family functions. </span></div>
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	<span style="font-size: 9.5pt; line-height: 115%;">He says it's just the right time for him to work hard, I am giving it all I have, for the completion of Westar Residency by its projected deadline 4th Qtr of 2012. Once the mission is accomplished, Rana wants to expand his business horizon and move into other sectors depending on the direction the nation's economy heads towards in the next 5-10 years. At present, the uncertainty level is very high so I am yet to identify my future business course, he explains. He has kept all options open and wants to enter businesses that have values. A firm believer in the adage, œlearning never stops, success is not only about creating wealth for him. Letting go of bachelorhood and becoming a father later transformed him as a person, he says. My marriage and the birth of my son has made me become more responsible socially and had me planning for the future, he reveals. Having led quite a privileged life, Rana doesn't have any major regrets and is content with everything god has to offer. </span></div>
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	<strong><span style="font-size: 10pt;">On the Side<br />
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		<b><span style="font-size: 9.5pt;">Sports : </span></b><span style="font-size: 9.5pt;">Played football, basketball, badminton, tennis, cricket, volleyball&nbsp; you name it! Tried his hands at golf too, for a week,&nbsp; a time consuming sport. I will take it up full time later in life.<br />
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		<b><span style="font-size: 9.5pt;">Pets :&nbsp;</span></b><span style="font-size: 9.5pt;">Owns a Tibetan Dog. Loves animals, Playing with them works as a stress buster.<br />
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		<b><span style="font-size: 9.5pt;">Mobile Phones :</span></b><span style="font-size: 9.5pt;"> Any model that can receive and make phone calls is good enough. Not a gadget freak.<br />
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		<b><span style="font-size: 9.5pt;">Car:&nbsp;</span></b><b><span style="font-size: 9.5pt;"> </span></b><span style="font-size: 9.5pt;">Has a fascination for automobiles. Currently drives a Mitsubishi Pajero. Prefers to drive an SUV as it is ideal for his weekend travels.<br />
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		<b><span style="font-size: 9.5pt;">Television : </span></b><span style="font-size: 9.5pt;">Mainly News channels including Al Jazeera and BBC.<br />
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		<b><span style="font-size: 9.5pt;">Movies&nbsp; :</span></b><span style="font-size: 9.5pt;"> Favourite genre&nbsp; Action flicks. Mad about actor Steven Seagal.<br />
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		<b><span style="font-size: 9.5pt;">Food&nbsp; : </span></b><span style="font-size: 9.5pt;">Daal Bhaat Rice is my biggest weakness. Also likes Japanese and Chinese food.</span><span style="font-size: 10pt;">Trivia:</span></li>
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	<strong>Other<br />
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		<span style="font-size: 9.5pt; color: rgb(157, 10, 14);">&nbsp;</span><span style="font-size: 9.5pt;">Rana wanted to learn piloting, a childhood dream he never pursued. </span></li>
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		<span style="font-size: 9.5pt; color: rgb(157, 10, 14);">&nbsp;</span><span style="font-size: 9.5pt;">His father's wish finally came true My younger brother joined the police, he quips. </span></li>
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		<span style="font-size: 9.5pt; color: rgb(157, 10, 14);">&nbsp;</span><span style="font-size: 9.5pt;">A terrible liar I find it difficult to lie because when I do, it reflects on my face</span></li>
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		<span style="font-size: 9.5pt; line-height: 115%;">For a rush delivery while at DHL, he momentarily forgot his work designation and drove a delivery van.</span></li>
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<p>
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	 </p>',
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			'description' => 'Born into Rana aristocracy, Umang SJB Rana, the CEO of Westar Properties did not have life served on a platter for him.',
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		'Article' => array(
			'id' => '297',
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			'title' => 'Dr Supachai Panitchpakdi',
			'sub_title' => '',
			'summary' => null,
			'content' => '<p>
	<span style="font-size: 14px;"><strong><br />
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	<span style="font-size: 14px;"><strong>Trade Should Be Harnessed To Ensure Development</strong></span></p>
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	<span style="font-size:12px;"><img align="left" alt="WTO" border="1" height="185" hspace="5" src="http://newbusinessage.com/ckfinder/userfiles/Images/interview1(1).jpg" style="width: 266px; height: 185px;margin:10px;padding:10px;" vspace="5" width="266" />Dr Supachai Panitchpakdi is the Secretary-General of the UN Conference on Trade and Development (UNCTAD), a post he first took up in September 2005. Prior to this, he was the Director-General of the World Trade Organisation (WTO). A PhD in Economic Planning and Development from the Netherlands School of Economics (now Erasmus University Rotterdam), he also served as Thailand's Deputy Prime Minister, Minister of Commerce and Deputy Minister of Finance on different times.&nbsp;Dr Supachai was in Kathmandu recently to attend the Regional Workshop on Productive Capacities, Economic Growth and Poverty Reduction in Asian and the Pacific LDCs. In an interview with Gaurav Aryal of <i>New Business Age</i>, he shared his views on economic, trade and development issues of the Least Developed Countries (LDCs).&nbsp;Excerpts:</span></div>
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	<span style="font-size:12px;"><strong>UNCTAD is organising a series of regional workshops to disseminate the findings of its reports such as Least Developed Countries Report, UNCTADâ's Division for Africa, Least Developed Countries and Special Programmes (ALDC) etc. What are the general findings of these reports?<br />
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	<span style="font-size:12px;">We are trying to concentrate on the areas of structural adjustments mainly in supporting the work of the states. We are trying to create productive capacity which means jobs creation, investment in infrastructure, investment in power plants and education. Our findings say that economic growth is needed to create social welfare for people. It does not happen automatically. So, there has to be definite development governance that would direct all the gains from growth to areas that would give people the right to participate, have transparency and decision making process as well as in the areas of trade. LDCs are essentially small economies. So, we think an LDC should make efforts to mainstream trade policy into its national development policy. The domestic markets are not enough to maintain basic demand so they need external demand too. For this, they need access in the international market. Special concessions given by the advanced countries for the LDCs will be crucial. It should be the heart of what we call early harvest for Doha negotiation.</span></div>
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	<span style="font-size:12px;"><strong>What can Nepal learn from the experience of other developing countries?<br />
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	<span style="font-size:12px;">First of all, development governance is very important. If you look at countries like Malaysia and Korea, these developing countries have actually showed the way for industrialisation process where the government has been taking the lead. They support industrial zones, put up investment policy that attract foreign direct investment (FDI) in technology related areas and create trade infrastructure in terms of ports, transportation facilities and trading firms. For example, they have trading firms that help promote the products in foreign countries. Nepal can also learn from their monetary policy that is customer focal. In the area of tourism, Nepal is doing well but it can certainly do better. More investment is required to attract tourists but it is important at the same time, to keep the negative effect of tourism under control.</span></div>
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	<span style="font-size:12px;"><strong>Despite having ample resources, poor countries have extremely low economic growth. Could you highlight the key issues where LDCs like Nepal fail in formulating trade and economic policies?<br />
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	<span style="font-size:12px;">I am not clear about Nepal but many LDCs have remained too dependent on few commodities. They have also failed most of the time to pursue positive development. This is an area in which it needs investment from the government sector for extended service, irrigation projects, water management and to build roads in the rural areas.&nbsp;The government also needs to provide support and subsidies for farmers in rural areas where they do not enjoy enough income to sustain themselves. LDCs also need to sustain in the areas of gender and women. In Africa, for example, women are the most underutilised productive capacity. In Asia, we still need legal reform that would put women rights, wage level, welfare treatment, education etc at par with men.&nbsp;LDCs can also learn from countries that have performed well in domestic resource mobilisation because one has to develop the domestic financial market. The banking system must be solid and it needs prudential supervision by the government so that more savings can be mobilised. You can have more resources here in Nepal itself and you don't have to be totally dependent on foreign aid.</span></div>
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	<span style="font-size:12px;"><strong>You have been part of the Thai Government in the past. What should be the agenda of LDC governments on the level of policy making and implementation, to increase the export trade volume?<br />
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	<span style="font-size:12px;">The LDCs will have to invest in capacity to produce, to begin with. For example, if you have some food products, you may need to process food products as well in order to add value. Similarly, if you have some minerals, then you should think of investing in the processing of minerals. In Thailand we invested in canning of tuna fish which has been doing exceedingly well. We used to produce automobile spare parts to begin with but gradually we started producing automobiles on our own. So, you have to start from somewhere and try to move up the ladder all the time. I would recommend that LDCs having niche in certain areas have to keep adding value. Importance of technology is one lesson we have learnt in Thailand. Innovation and technology depends on the quality of education. Education must be guided in a way that would promote research. In Thailand, university professors and academics are encouraged to conduct more research and innovate. Foreign companies are also being attracted to the country to learn technology from. </span></div>
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	<span style="font-size:12px;"><strong>LDCS are largely dependent on donors and face heavy foreign debt. They also lack fundamental base of stable politics and proper policy implementation. Amid such complexities, how can countries move on the right path of development and poverty reduction?<br />
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	<span style="font-size:12px;">Well, I think these are more controversial issues than the development policies. You must have growth to be able to have social investment and welfare but, of course, a loan is not enough. In order to transfer growth into social development, you probably need a policy on socio protection and inclusive development. It means that you would have to try to spread growth throughout the country. You need growth to be well distributed and not concentrated in certain areas only. It means decentralisation. You need to decentralise the authorities of the government and the investment activities. Investment has to be made into rural network of roads and means of transportation. Both skilled and unskilled people need help as well. If you look at the informal sector particularly, there are a lot of people being underpaid. You have to be able to initiate social programmes that would help guarantee employment. The employment guarantee programme in India could be one shining example. I feel that such programmes help support rural families. I also like the Bolsa Familia programme in Brazil where government financial support is given to families on condition that children must attend school until secondary education. These are some of the obvious measures that are needed to produce the impact from economic growth for social welfare. </span></div>
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	<span style="font-size:12px;"><strong><img align="right" alt="reduction" border="1" height="214" hspace="5" src="http://newbusinessage.com/ckfinder/userfiles/Images/interview(1).jpg" style="width: 171px; height: 214px;margin:10px;padding:10px;" vspace="5" width="171" />What should be the role of the development partners in addressing the issues of development and poverty reduction in the LDCs?<br />
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	<span style="font-size:12px;">Development partners normally provide financial means. They have a target to meet - a contribution of 0.15 to 0.2 per cent of the GNP - which has to be given to the LDCs. However, they are giving only 0.09 per cent which is too low. I think the target should be met. The development partners should work on transfer of technology. This is not in financial terms but in terms of intellectual property rights. There should be some sort of open software system that can be accessed by the LDCs so that proprietorship could be opened up for people to search. I would say, in the trade areas as per the Doha agenda, they can give concessions to the LDCs as an early harvest. They don't need to wait until the end of the round to give concessions in the form of duty- and quota-free concessions for trade facilitation and in the areas of outsourcing of services. These are some of the areas which, I believe, could be done in terms of green economy. I also expect the green fund for the LDCs or the green development mechanism to be established. Some of these arrangements would pay special attention to the roles of the LDCs and they should be granted special assistance in these funding ranges. </span></div>
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	<span style="font-size:12px;"><strong>How do you view the current debate on aid for trade?<br />
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	<span style="font-size:12px;">Aid for trade is a good programme to mainstream trade into development. For us at UNCTAD, aid for trade means aid for trade for development. So, trade should be harnessed for serving this purpose. We have been talking about the need for more productive investment and investment in trade infrastructure, development training of skill negotiators, the need to setup the right commercial institutions and the right legal framework. You must have the legal people who understand the Trade-Related Aspects of Intellectual Property Rights (TRIPS) issues. You may also need to have the IT court. The aid for trade should also help in the areas of providing capacity to accomplish more work in environment and trade. UNCTAD believes the new areas of green economy would provide for opportunities to invest in renewable and energy products. I think â€˜aid for trade can help pave the way to support transfer of technology and training of scientists and engineers. This would also help in bringing the LDCs to new rounds of opportunities courtesy the green economy.</span></div>
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	<span style="font-size:12px;"><strong>In poor countries, the governments try to tread a middle path between the models of controlled economy and free economy. How do you evaluate Nepal's trade and more specifically, its economic policy?<br />
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	<span style="font-size:12px;">To be fair to the government in Nepal, I am not qualified enough to emphasise on what Nepali economy should be doing. But I do see the role of the government being evolved here. I hope it will evolve in a way where there won't be too many controls. It is important for the Nepali government to be balanced in its role along with its evolving policies. The direction we would like to advise is to go into what we call development governance. This will help policies being directed at getting the development strategy right. The government should not look at market reform, competition and pricing policy only. It must have the market work so as to attract new projects that would create employment. Productive investment should be encouraged. Nepal needs a monetary policy that would mobilise more funds and keep interest rates not too high. It would mean the fiscal policy will have to be directed at needs to create the perfect infrastructure. It will also mean that the exchange rate policy needs to be flexible. And you have to have the exchange rate at a level that will be stable and will help make your products competitive.</span></div>
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	<span style="font-size:12px;"><strong>Questions are often raised in poor countries about the value and benefit of being WTO members. Anti-WTO activists accuse that WTO policies are pro-rich and poor countries simply can't afford to abide by WTO policies. What do you have to say?<br />
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	<span style="font-size:12px;">Well, being a WTO member is not enough. It won't help a country if it doesn't work on it to make itself strong in competition. So, being a WTO member is like being presented with opportunities to take advantage of the markets around the world. Taking advantage from the market depends on domestic policies. The domestic policies must drive forward to do more work in the areas of trade infrastructure, business improvement, skills training, development of science of the exported products and standard of products that would meet international standards. The technical barriers to trade and technical standards of manufactured products are also important. You also need the right laws to take benefits from the membership of the WTO. Being the member of the WTO is not a free ride, for sure.</span></div>
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	<span style="font-size:12px;"><strong>What's the equation between UNCTAD and WTO in terms of policies?<br />
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	<span style="font-size:12px;">UNCTAD and WTO follow similar policies and support and complement each other. For instance, UNCTAD has been doing a lot of work in the area of capacity building while WTO is doing the same in the area of trade. We support the WTO in areas of trade facilitation and negotiation and trade and environment negotiation. We do the work on investment policies that WTO cannot do due to the lack of investment agreement at WTO. Being the focal point for investment policy for the UN system, we have been giving advice on investment policies to developing countries around the world. We advise them on investment agreement, investment promotion, policies etc. So, this actually complements WTO on what it cannot do. Also in the area of competition laws and consumer protection which WTO could not agree, we are providing assistance for countries to establish competition laws and consumer protection. Therefore, I think we do play a complementary role. The pace of trade liberalisation might have been a little too fast for developing countries. They may have not been able to reap benefits because they were not well prepared. The WTO also agrees now that in order to garner benefits from trade liberalisation, well preparedness and trade mainstreaming into the development process are essential. </span></div>
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	<span style="font-size:12px;"><strong>How would you like Nepal to take advantage from huge and growing markets on both sides of its borders?<br />
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	</strong></span></div>
<div style="text-align: justify;">
	<span style="font-size:12px;">Asia is now the growth port of the world. This is an area where growth is maintained at a very high level and quite stably. I think Nepal is situated in the right place with major countries surrounding it like India and China and South East Asia within close proximity. There should be a definite government policy to direct trade cooperation with all these countries. Such endeavours are supported by Asian Development Bank also. Cooperation is not always easy among neighbouring countries. However, you must concentrate on joint projects like transportation or regional projects taking part in joint programmes like tourism promotion etc. I think you should make use of having a deeper integration with South East Asian and North Asian countries in the region besides China and India. </span></div>
<div style="text-align: justify;">
	<span style="font-size:12px;"><br />
	<br />
	</span></div>
<div style="text-align: justify;">
	<span style="font-size:12px;"><strong>Will it be sustainable for LDCs to look for export trade only?<br />
	<br />
	</strong></span></div>
<div style="text-align: justify;">
	<span style="font-size:12px;">No. Sustainability is more than just export trade. It means you must have social equality, look after ecology and environment and invest in forestation to keep forests alive and growing. You have to invest in water management and human resources that will make for sustainable development. Therefore, it's not only export trade that would drive you. You must have a combination of inclusive policies that would shape the benefits of growth and trade equally. </span></div>
<div style="text-align: justify;">
	<span style="font-size:12px;"><br />
	<br />
	</span></div>',
			'published' => true,
			'created' => '2011-05-31',
			'modified' => '2012-09-16',
			'keywords' => '',
			'description' => 'Dr Supachai Panitchpakdi  is the Secretary-General of the UN Conference on Trade and Development (UNCTAD), a post he first took up in September 2005. Prior to this, he was the Director-General of the World Trade Organisation (WTO). A PhD in Economic Planning and.....',
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	(int) 8 => array(
		'Article' => array(
			'id' => '296',
			'article_category_id' => '48',
			'title' => 'Truly Fighting Spirit',
			'sub_title' => '',
			'summary' => null,
			'content' => '<div style="margin-bottom: 0.0001pt; text-align: justify; line-height: 120%; vertical-align: middle;">
	<span style="color: rgb(255, 140, 0);"><i><span style="font-size: 8pt; line-height: 120%;"><img align="left" alt="madan" border="2" height="146" hspace="2" src="http://newbusinessage.com/ckfinder/userfiles/Images/img(4).jpg" style="width: 121px; height: 146px;margin:10px;padding:10px;" vspace="1" width="121" />By Madan Lamsal<br />
	<br />
	<br />
	</span></i></span></div>
<div style="margin-bottom: 0.0001pt; text-align: justify; vertical-align: middle;">
	<span style="font-size: 14px;">T</span><span style="font-size: 9.5pt;">he FNCCI has elected a new President. The election this time was quite historic as it was fought not only in democratic spirit but it had all killing spirits between the contesting panels. It took many years to achieve this grandeur of fighting spirit that got literally demonstrated beyond ballot. It was but natural for the FNCCI electorates to be inspired by the fights surrounding all around them.<br />
	<br />
	<br />
	</span></div>
<div style="margin-bottom: 0.0001pt; text-align: justify; text-indent: 14.15pt; line-height: 11pt; vertical-align: middle;">
	<span style="font-size: 9.5pt;">The political leaders of the same party and those supposedly following the same principle, if any they have, are fighting cats and dogs. The trade unions are not only fighting with their employers but also between the factions in themselves. A few revolutionary parties have also waged a diplomatic war throwing shoes and pelting stones to some foreign diplomats. Some horrible, oooch! honourable Members of the revered Constituent Assembly(CA) who tried to write constitutional provisions in Red Passports are now fighting legal battles. All apart, the largest party in the CA is more inclined to fight than to write the constitution. To cut it short, there is fight in every spectrum of national life and how can one expect only the business community not to breathe the air from national atmosphere and remain shy of fighting.<br />
	<br />
	<br />
	</span></div>
<div style="margin-bottom: 0.0001pt; text-align: justify; text-indent: 14.15pt; line-height: 11pt; vertical-align: middle;">
	 </div>
<div style="margin-bottom: 0.0001pt; text-align: justify; text-indent: 14.15pt; line-height: 11pt; vertical-align: middle;">
	<span style="font-size: 9.5pt;"><img align="left" alt="nolaughingmatter" border="1" height="267" hspace="5" src="http://newbusinessage.com/ckfinder/userfiles/Images/no laugh(2).jpg" style="width: 292px; height: 267px;margin:10px;padding:10px;" vspace="5" width="292" />In fact, the body fight was the only thing left to make the FNCCI an institution compatible to our true national character. Everybody else in the society raised their fists and waved their legs to kick somebody from home or office but not the chamber members. This was the only gap left in the respectable members of apex chamber of the country to qualify as the national heroes. Now the brave brothers of business fraternity have done the job professionally making everybody feel proud about it. Thus it has been established now that private sectorsâ€™ leaders are not differently able or mentally retarded but physically capable and mentally sharp. Not to mention a special ability of the business community to be absolutely spendthrift when chips are actually down. This election was the latest testimony to it.&nbsp;To remind, there was a fight to finish spirit in the money game as well.</span></div>
<div style="margin-bottom: 0.0001pt; text-align: justify; text-indent: 14.15pt; line-height: 11pt; vertical-align: middle;">
	<br />
	<br />
	 </div>
<div style="margin-bottom: 0.0001pt; text-align: justify; text-indent: 14.15pt; line-height: 11pt; vertical-align: middle;">
	<span style="font-size: 9.5pt;">&nbsp;The exposition of this purely new quality amongst the business leaders, the true spirit of fighting among others, now ensures high pace of economic growth and prosperity of the nation. The country had remained poor so long only because our business community loathed the fight. Now they are on board and hopes for economic revolution are as high as ever before. Let's take a cue ! The political revolution was possible due to the fact that the politicians always fought like dogs among themselves. If Nepal wants economic revolution as well then the businessmen should also fight like the politicians. Apparently, now on, the Nepali business community will continue to learn from Nepali politics.</span></div>
<div style="margin-bottom: 0.0001pt; text-align: justify; text-indent: 14.15pt; line-height: 11pt; vertical-align: middle;">
	<br />
	<br />
	 </div>
<div>
	<span style="font-size: 9.5pt; line-height: 115%;">The revival of the fighting spirit and money mixing in ballots are indeed great achievements in this direction. Now, the fighting spirit, like in politics, should be able to kill all other spirits like democratic, nationalistic or ethical spirits to name a few. This only will make FNCCI an institution of repute and dignity that suits to twenty-first century national umbrella chamber.<br />
	<br />
	<br />
	</span></div>',
			'published' => true,
			'created' => '2011-05-31',
			'modified' => '2012-09-16',
			'keywords' => '',
			'description' => 'The FNCCI has elected a new President. The election this time was quite historic as it was fought not only in democratic spirit but it had all killing spirits between the contesting panels.',
			'sortorder' => '222',
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	(int) 9 => array(
		'Article' => array(
			'id' => '295',
			'article_category_id' => '52',
			'title' => 'The White Paper Hoax',
			'sub_title' => '',
			'summary' => null,
			'content' => '<div style="text-indent: 0in; text-align: justify;">
	<span style="font-size: 16px;"><img align="left" alt="fromtheeditor" border="1" height="279" hspace="10" src="http://newbusinessage.com/ckfinder/userfiles/Images/img(3).jpg" style="width: 214px; height: 279px;margin:10px;padding:10px;" vspace="10" width="214" />A</span>fter failing to bring in a supplementary budget as planned, the lame-duck Jhala Nath Khanal government on 12th April issued a so called White Paper, primarily to placate the senior partner in the coalition government the UCPN - Maoists. At the first place, the issuance of such policy paper was an untimely and unnecessary exercise. Only a few days earlier Deputy Prime Minister Bharat Mohan Adhikari had announced an energy crisis management plan in the legislature parliament. If anything the government had to add on, that could have been incorporated in that speech. But, Adhikari chose to organise a separate media event in his own ministry to elaborate the priorities of the government through this White Paper.</div>
<div style="text-indent: 0in; text-align: justify;">
	<br />
	 </div>
<div style="text-align: justify;">
	<span style="letter-spacing: 0.1pt;">Effectively, the paper hardly contained anything new, thus defeating the very purpose of it. Like the earlier government, Adhikari also emphasised on sticking to the so called&nbsp;three pillar private, co-operatives and public pillars concept of the economy, which for all practical purposes is nothing more than verbose. In essence, cooperative is a private sector exercise. And public sector participating with other sectors private or cooperatives is an absolute anti-thesis to economic progress. The state must not be a partnerâ to a party who does the business. Therefore, re-emphasising on this obsolete platitude of partnership is absolute nonsense. </span></div>
<div style="text-align: justify;">
	<br />
	 </div>
<div style="text-align: justify;">
	Second, the very intent was redoubtable and the procedures adopted were questionable. The hidden agenda of the White Paper was to ignite pork barrel spending in non-productive, politically designed programmes. Such an act was propelled by the Maoists wishful plan that&nbsp;the nearly Rs 22 billion remained idle in the government coffers could be used in the party's pet programmes.</div>
<div style="text-align: justify;">
	<br />
	 </div>
<div style="text-align: justify;">
	As regards procedures, any new government surely has moral rights to outline its policies and programmes. But, by norm either it should come as the policy speech of the new prime minister, or the government could table it in the parliament. But a deputy prime minister organising a press meet in his ministry to make the White Paper public barely matched the gravity it warranted.</div>
<div style="text-align: justify;">
	<br />
	 </div>
<div style="text-align: justify;">
	<span style="letter-spacing: -0.1pt;">The White Paper has artlessly copied several ear-friendly programmes like helping in commercialisation of the agriculture and boosting the private sector business initiatives. But the promises this paper made could be translated into actions only when the parties in the government&nbsp; the Maoists and the UML, first agree to tame their own trade unions. Interestingly, this White Paper hardly talks about the steps to address the present industrial anarchy due to irresponsible behaviour particularly of the ruling party-affiliated unions.</span></div>
<div style="text-align: justify;">
	<br />
	 </div>
<div style="text-align: justify;">
	<span style="letter-spacing: -0.1pt;">Also, it is a great irony that the White Paper instead of serving the government's intended purpose just exposed the ulterior motives of PM Khanal and his affiliates. For the economy, it simply could not leave a mark, let alone contribute positively, as it had no teeth and breath. Going deeper into Deputy PM Adhikariâ's intentions, he so deliberately skipped some of the hottest issues of the economy that needed immediate attention.</span></div>
<div style="text-align: justify;">
	<br />
	 </div>
<div style="text-align: justify;">
	Adhikari very tactfully avoided making any commitment to take action against the businesses involved in forging VAT bills. Similarly, the White Paper did not have any unequivocal position to continue to adopt a free market economy and the government limiting its role not as the market participant but just an honest referee of the game.<br />
	<br />
	 </div>',
			'published' => true,
			'created' => '2011-05-31',
			'modified' => '2012-08-28',
			'keywords' => '',
			'description' => 'After failing to bring in a supplementary budget as planned, the lame-duck Jhala Nath Khanal government on 12th April issued a so called White Paper.....',
			'sortorder' => '221',
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	(int) 10 => array(
		'Article' => array(
			'id' => '294',
			'article_category_id' => '34',
			'title' => 'Manufacturing Production Index Increases',
			'sub_title' => '',
			'summary' => null,
			'content' => '<div style="text-align: justify;">
	Manufacturing Production Index in the first quarter of the current fiscal year increased by 1.23 per cent compared to the same period previous fiscal year, according to the data released recently by the Central Bureau of Statistics (CBS).<br />
	Â </div>
<div style="text-align: justify;">
	In the same period, the Manufacturing Producersâ€™ Price Index increased 8.11 per cent, show the CBS data.<br />
	Â </div>
<div style="text-align: justify;">
	The highest increase in the production was in aluminium products (42 per cent) followed by rectified liquor and garment both of which increased over 34 per cent. The largest decline was in paper (other than newsprint) which registered a whopping reduction of ovr 64 per cent. That was followed by biscuits which declined over 51 percent. Among the other decliners were beer (17 per cent), soft drinks (26 per cent), sawn wood (24 per cent) and wire and cable (16 per cent).<br />
	<br />
	Â </div>
<div style="text-align: justify;">
	Among the goods in which the price increased, the highest was in the sawn wood (132 per cent) followed by lube oil (78 per cent),&nbsp;ply wood (73 per cent) and paper excluding newsprint (72 per cent).<br />
	Â </div>
<p style="text-align: justify;">
	Among the goods in which the producersâ€™ price decreased include iron rod and billets and plastic products (21 per cent) and soap and carton boxes (26 per cent each). </p>',
			'published' => true,
			'created' => '2011-04-28',
			'modified' => '0000-00-00',
			'keywords' => '',
			'description' => 'Manufacturing Production Index in the first quarter of the current fiscal year increased by 1.23 per cent compared to the same period previous fiscal year, according to the data released recently by the Central Bureau of Statistics (CBS).',
			'sortorder' => '220',
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	(int) 11 => array(
		'Article' => array(
			'id' => '293',
			'article_category_id' => '34',
			'title' => 'Rs 1.5 Billion ADB Aid In Agriculture',
			'sub_title' => '',
			'summary' => null,
			'content' => '<div style="text-align: justify;">
	<img align="left" alt="" border="2" hspace="2" src="http://newbusinessage.com/ckfinder/userfiles/Images/img3.jpg" vspace="2" />Asian Development Bank (ADB) has signed an agreement with Nepal government to provide an assistance of Rs 1.447 billion to help small and medium sized farmers to enhance cash crops production under value chain concept.</div>
<p style="text-align: justify;">
	The project covers 10 districts in mid western and far western regions targeting to provide benefit to 18,700 households. The project targets to help farming in 7,500 hectares of land and produce 65,500 metric tonnes of products that is expected to be valued at US$ 301 million, according to the ADB. The project is expected to increase the income levels of the women.</p>',
			'published' => true,
			'created' => '2011-04-28',
			'modified' => '0000-00-00',
			'keywords' => '',
			'description' => 'Asian Development Bank (ADB) has signed an agreement with Nepal government to provide an assistance of Rs 1.447 billion to help small and medium sized farmers to enhance cash crops production under value chain concept.',
			'sortorder' => '219',
			'image' => null,
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	(int) 12 => array(
		'Article' => array(
			'id' => '292',
			'article_category_id' => '34',
			'title' => 'Digitised E-posters For Advertising',
			'sub_title' => '',
			'summary' => null,
			'content' => '<div style="text-align: justify;">
	<img align="left" alt="" border="2" hspace="2" src="http://newbusinessage.com/ckfinder/userfiles/Images/img2.jpg" style="width: 320px; height: 202px;" vspace="2" />Media Space Solution Pvt Ltd has begun using digitised e-posters as a new advertising medium. G P Adhikari, the Executive Director of the company said at its official announcement function that advertising through such technology is easy and affordable. He informed that the technology is called electronic point of purchase media (E-POM).</div>
<p style="text-align: justify;">
	According to the company, this service has started from Bhatbhateni Supermarket in Kathmandu. Four 46 inches and two 32 inches display screens have been installed at the supermarket. Currently, there are 30 different advertisements being played on the e-posters. The screens are manufactured by Viewsonic, an American company. The advertisement on these e-posters can be played through pen drives too. </p>',
			'published' => true,
			'created' => '2011-04-28',
			'modified' => '0000-00-00',
			'keywords' => '',
			'description' => 'Media Space Solution Pvt Ltd has begun using digitised e-posters as a new advertising medium. G P Adhikari, the Executive Director of the company said at its official announcement function that advertising through such technology is easy and affordable.',
			'sortorder' => '218',
			'image' => null,
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			'homepage' => false,
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	(int) 13 => array(
		'Article' => array(
			'id' => '291',
			'article_category_id' => '34',
			'title' => 'Carpet Export Increases Despite Production Problems',
			'sub_title' => '',
			'summary' => null,
			'content' => '<div style="text-align: justify;">
	The export of woollen carpet increased&nbsp;16.5 per cent in the first six months of the current fiscal year compared to the same period of the last year indicating rvivial in the industry.<br />
	Â </div>
<div style="text-align: justify;">
	According to the Trade and Export Promotion Centre, 423,481 square metres of carpet worth Rs 2.37 billion was exported to different countries in the six months that ended on mid-January 2011. During the same period last year, the value of carpet export was Rs 2.03 billion.<br />
	Â </div>
<div style="text-align: justify;">
	Anup Bahadur Malla, the promoter of Kangri Carpet said the demand for Nepali carpet is growing in the international market. â€œWe have not been able to supply enough to meet the growing demand,â€ he added. He revealed that though the market is growing, the industries in Nepal have failed to respond accordingly due to the power crisis and labour problems.<br />
	Â </div>
<div style="text-align: justify;">
	â€œThough we have demand, there are no skilled labours to produce carpet,â€ he lamented. He added that the price of Nepali carpets have not increased despite the rise in demand. Nepali carpets compete with the Indian carpets which are 40 per cent cheaper. But Malla claimed that the quality of Nepali carpet is much better.<br />
	Â </div>
<p style="text-align: justify;">
	Surendra Dhakal, the Advisor of the Carpet Exporterâ€™s Association has however cautioned that though the export had increased in the first six months it has started declining after December. </p>
<p>
	Â </p>',
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			'description' => 'The export of woollen carpet increased 16.5 per cent in the first six months of the current fiscal year compared to the same period of the last year indicating rvivial in the industry.',
			'sortorder' => '217',
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		'Article' => array(
			'id' => '290',
			'article_category_id' => '34',
			'title' => 'Banks Register Increase In Returns And Capital Fund',
			'sub_title' => '',
			'summary' => null,
			'content' => '<div style="text-align: justify;">
	Commercial banksâ€™ average return has increased by 2 per cent over the last one year. This is shown by the unaudited report of 30 banks for the second quarter of the current fiscal year.<br />
	Â </div>
<div style="text-align: justify;">
	Average return of the banks in second quarter of the last year was 9.46 per cent while this year, it is 11.44 per cent. Shovan Dev Panta, the CEO of Lumbini Bank said the average return increased as there was progress in the repayment of bad loans. â€œHowever with the increase in cost of fund, the returns have not increased as expected,â€ he added. Cost of fund that was 5.43 per cent in the second quarter last year has increased to 7.86 per cent in the same period this year.<br />
	Â </div>
<div style="text-align: justify;">
	Maheswor Lal Shrestha, the Management Coordinator of Nepal Bank Limited said it is positive to have increasing returns for banks in the current difficult situation. â€œBut along with the return, cost of fund has also increased which is not a good sign,â€ he said. He cites the increase in interest rate for deposits as the main reason behind the rise in cost of fund. â€œThis would also increase the rate of interest in loans which will eventually affect investment and consumption,â€ he explained.<br />
	Â </div>
<p style="text-align: justify;">
	According to the report, all banksâ€™ average returns have increased. Compared to the second quarter of last fiscal year, bankâ€™s capital adequacy has increased to 15.7 per cent of the risk-weighted assets.&nbsp;This was 10.4 per cent in the same period last year.</p>',
			'published' => true,
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			'description' => 'Commercial banksâ€™ average return has increased by 2 per cent over the last one year. This is shown by the unaudited report of 30 banks for the second quarter of the current fiscal year.',
			'sortorder' => '216',
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			'title' => 'Are You Backed By SAP?',
			'sub_title' => '',
			'summary' => null,
			'content' => '<div style="margin-bottom: 0.0001pt; vertical-align: middle; text-align: justify;">
	<span style="font-size: 14.5pt;"><img align="left" alt="" border="1" height="225" hspace="10" src="http://newbusinessage.com/ckfinder/userfiles/Images/imm.jpg" style="width: 349px; height: 225px;margin:10px;padding:10px;" vspace="10" width="349" />S</span><span style="font-size: 9.5pt;">AP is an acronym for Systems, Applications and Products in data processing; and today, it is the world's largest business software company which delivers products and services that help to speed up business innovation for customers. When it comes to operating with the ultimate idea of uninterrupted and ever increasing performance in business, SAP is the perfect solution. </span></div>
<div style="margin-bottom: 0.0001pt; text-indent: 14.15pt; line-height: 11pt; vertical-align: middle; text-align: justify;">
	<br />
	<span style="font-size: 9.5pt;">SAP provides a single, integrated technology platform that supports industry-specific business processes through optional enhancement packages that enables to build on progress, without causing business disruptions. </span></div>
<div style="margin-bottom: 0.0001pt; text-indent: 14.15pt; line-height: 11pt; vertical-align: middle; text-align: justify;">
	<br />
	<span style="font-size: 9.5pt;">SAP solutions are efficient and this can be largely credited to SAP's impeccable architecture. It is built on state-of-the-art computing technologies based on the Business Framework architecture which is capable of processing huge volumes of information and supporting rapid decision-making. </span></div>
<div style="margin-bottom: 0.0001pt; text-indent: 14.15pt; line-height: 11pt; vertical-align: middle; text-align: justify;">
	<br />
	<br />
	<span style="font-size: 9.5pt;">There are a few things that distinctly mark SAP apart from other solutions in the market. The foremost is their service-oriented architecture (SOA) which speeds and simplifies the integration of SAP and non-SAP solutions. Therefore, SAP's implementation offers high levels of data integration as it ensures synchronisation of information between SAP and the underlying business execution systems. This open connectivity actually allows business components to interact with several business systems. </span></div>
<div style="margin-bottom: 0.0001pt; text-indent: 14.15pt; line-height: 11pt; vertical-align: middle; text-align: justify;">
	<br />
	<span style="font-size: 9.5pt;">Needless to say, with SAP, a company can gain meaningful, industry-specific, role-based insight into the business performance.</span><span style="font-size: 9.5pt;">Understanding its functionality requires recognising the working of its components. Building on existing SAP R/3 functionality, SAP includes functionality for advanced Business Consolidation and Business Information Collection, which links internal information with automated collection of relevant external information through the Internet. SAP also supports advanced Business Planning and Simulation, based on both internal and external information - allowing you to model risks and rewards, and more effectively manage future uncertainties. </span></div>
<div style="margin-bottom: 0.0001pt; text-indent: 14.15pt; line-height: 11pt; vertical-align: middle; text-align: justify;">
	<br />
	<span style="font-size: 9.5pt;">Furthermore, once you resort to SAP solutions, the Corporate Performance Monitor including the Management Cockpit is enhanced with industry-specific Key Performance Indicators (KPI) templates on the one hand while on the other, the Stakeholder Relationship Management component facilitates communication with investors and other important stakeholder groups. </span></div>
<div style="margin-bottom: 0.0001pt; text-indent: 14.15pt; line-height: 11pt; vertical-align: middle; text-align: justify;">
	<br />
	<span style="font-size: 9.5pt;">SAP unequivocally meets all your company's requirements and addresses all its prominent concerns.The implementation of SAP Enterprise Resource Planning (ERP) can lead to many benefits. Some evident gains are stated as follows:</span></div>
<div style="margin-bottom: 0.0001pt; text-indent: 14.15pt; line-height: 11pt; vertical-align: middle; text-align: justify;">
	<br />
	<span style="font-size: 9.5pt;">With SAP solutions, your enterprise shall run in accordance with strategy and plans, accessing the right information in real time to identify concerns early. SAP improves operational efficiency and productivity within and beyond your enterprise thus extending transactions, information, and collaboration functions to a broader business community.</span></div>
<div style="margin-bottom: 0.0001pt; text-indent: 14.15pt; line-height: 11pt; vertical-align: middle; text-align: justify;">
	<br />
	<span style="font-size: 9.5pt;">SAP helps you eliminate high integration costs and the need to purchase third-party software. It helps you leverage preset defaults and pre-packaged versions available for specific industries. It also links employees performance to compensation programmes such as variable pay plans and long-term incentives; and at the same time gives employees new ways to access the enterprise information required for their daily activities. </span></div>
<div style="margin-bottom: 0.0001pt; text-indent: 14.15pt; line-height: 11pt; vertical-align: middle; text-align: justify;">
	<br />
	<span style="font-size: 9.5pt;">To meet the business needs of the 21st century, every aspiring company needs the element that pulls it together and integrates it in such a proficient way that it is able to foresee all opportunities and identify every minuscule of apprehension to make proactive decisions. To ensure solid productivity in today's competitive market, every company needs to be in a position from where it can make the optimum use of all its existing resources. <br />
	<br />
	</span></div>
<div style="text-align: justify;">
	<span style="font-size: 9.5pt; line-height: 115%;">Using SAP means; being in a position to exactly do that. In brief terminologies, it means increasing profitability, improving financial control and reducing risks; thereby putting your company in the centre stage of a high yielding market.<br />
	<br />
	<br />
	</span></div>',
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			'title' => 'Poverty, Inequality And Growth-some Lessons',
			'sub_title' => '',
			'summary' => null,
			'content' => '<div style="margin-bottom: 0.0001pt; line-height: 120%; vertical-align: middle;">
	<span style="font-size:12px;"><i><span style="line-height: 120%;"><img align="left" alt="economy" border="1" height="129" hspace="5" src="http://newbusinessage.com/ckfinder/userfiles/Images/kamal raj.jpg" style="margin:10px;padding:10px;" vspace="5" width="100" />By Dr Kamal Raj Dhungel<br />
	<br />
	</span></i></span></div>
<div style="margin-bottom: 0.0001pt; text-align: justify; line-height: 11pt; vertical-align: middle;">
	<span style="font-size:12px;">The liberalisation policy in china is in effect since the end of 1970s. India has followed the same path since the beginning of 1990s. This resulted in tremendous progress, sustained growth and increased wealth in both China and India. Both the countries were characterised by mass poverty before the period of economic reform.&nbsp;Today, China has reduced the number of people under poverty to mere 2.8 per cent down from 64 per cent in 1981. Similar is the case of India. According to the government estimate, approximately 28 per cent of population is living below the poverty line down from 51 per cent in 1977/78. It reveals that people have tasted the fruits of economic progress resulting from economic reforms.&nbsp;</span></div>
<div style="margin-bottom: 0.0001pt; text-align: justify; line-height: 11pt; vertical-align: middle;">
	<span style="font-size:12px;"><br />
	<br />
	</span></div>
<div style="margin-bottom: 0.0001pt; text-align: justify; text-indent: 14.15pt; line-height: 11pt; vertical-align: middle;">
	<span style="font-size:12px;">Let's now look at the context of poverty reduction in China and India. The liberalisation of their economies have instigated tremendous progress, sustained growth and increased wealth with rapid industrialisation. They are achieving high economic growth rate above 9 per cent per annum. It has produced multiplier effect in their economies. They are investing their resources in the construction of infrastructure and establishment and promotion of basic industries. The private sector investment has been mushrooming. This has created sufficient employment opportunities within the country to the increased size of labour force. This provides opportunities to the poor people to improve their living condition and hence both countries have met the goal of poverty reduction in the same momentum though the degree and extent of it is different. Income, health and education of the people are gradually improving which results in the improvement of the human development index. Nepal's estimated incidence of poverty is at 30.9 per cent today down from 45 per cent in the mid 1990s. In terms of poverty reduction, al the three countries under consideration have the same trend over the same period of time. China and India have adequate reason to explain how poverty there has come down as they are achieving rapid economic growth rate.&nbsp;But in Nepal poverty has surprisingly come down when its economic growth rate is deteriorating. This makes the people doubt at the authenticity of the poverty reduction data. </span></div>
<div style="margin-bottom: 0.0001pt; text-align: justify; text-indent: 14.15pt; line-height: 11pt; vertical-align: middle;">
	<span style="font-size:12px;"><br />
	<br />
	</span></div>
<div style="margin-bottom: 0.0001pt; text-align: justify; text-indent: 14.15pt; line-height: 11pt; vertical-align: middle;">
	<span style="font-size:12px;">Nepal also has the same story of economic liberalisaiton but with different outcomes. Policy of liberalisation has been initiated since the middle of 1980s albeit it has been gaining momentum only after 1990. As an effect of this policy, a large number of public enterprises were dismantled in the name of privatisation. They had produced basic goods like shoes, sugar, agricultural tools, clothes and paper etc. In the past, these industries made a significant contribution in the economy in terms of consumption, income and employment. But today they have vanished. It means those industries whose management had been transferred to the private sector are not in operation currently.&nbsp;The demand of the goods produced by these industries is being fulfilled by imports. The numbers of persons employed in these industries have become unemployed.&nbsp;Some of them have either migrated to foreign countries in search of employment. Others have remained unemployed. There is no doubt that liberalisation can play an important role in economic development. It can attract, promote and encourage private sector investment, both foreign and domestic in the development of overall economy, particularly in the manufacturing sector.&nbsp;But the manner in which Nepal has been exercising economic policy reform seems clearly unsustainable and making gloomy environment for private investment.&nbsp;Instead, it encourages opening up a large number of cosy dance restaurants in different urban centres of Nepal through private sector investment.&nbsp;Similar is the case of investment of private sector in education and health as private schools, colleges and nursing homes including private hospitals are mushrooming. They provide service only to a small fraction of population who are wealthier.&nbsp;It creates discrimination among the citizens in terms of social service. Clearly, the nation has been producing two categories of future manpower: a superior workforce which graduates from private schools and an inferior one that graduates from public schools. Majority of students who graduate from private schools are migrating to developed countries. </span></div>
<div style="margin-bottom: 0.0001pt; text-align: justify; text-indent: 14.15pt; line-height: 11pt; vertical-align: middle;">
	<span style="font-size:12px;"><br />
	<br />
	</span></div>
<div style="margin-bottom: 0.0001pt; text-align: justify; text-indent: 14.15pt; line-height: 11pt; vertical-align: middle;">
	<span style="font-size:12px;"><img align="left" alt="Real GDP growth rate during 2006-10" border="1" height="197" hspace="5" src="http://newbusinessage.com/ckfinder/userfiles/Images/groth rate.jpg" style="width: 318px; height: 197px;margin:10px;padding:10px;" vspace="5" width="318" />The failure of economic policy particularly after 1990 is reflected in the overall progress of the Nepali economy. In the initial stages of liberalisation, the growth rate of Nepali economy was encouraging to some extent. But it became disappointing gradually. The trend of Nepal's economic growth rate is not only disappointing but also humiliating (see chart ). The fruit of this growth did not reach people who were the main pillars in restoring democracy in 1990 and beyond. It means the distribution of national income among its citizens has been skewed.&nbsp;Since the decade of 1990s, corruption has become rampant. Anti-corruption mechanisms have been made ineffective. The living standard of the richest 10 per cent has been increasing over the years while that of the rest is deteriorating.<br />
	<br />
	<br />
	</span></div>
<div style="margin-bottom: 0.0001pt; text-align: justify; text-indent: 14.15pt; line-height: 11pt; vertical-align: middle;">
	<span style="font-size:12px;">&nbsp;The present economic growth rate, as seen in the chart, is declining over the years. It is barely enough to feed the population which is growing at the rate of 2.24 per cent per year. For the mass of people, hunger is routine, malnutrition rife, employment insecure, social security non-existent, health care expensive and livelihoods under threat. Youths are migrating to foreign countries and are supposed to send remittance by putting their lives at risk. As expected, remittance plays a vital role in providing livelihood to the people of Nepal. This is also giving an opportunity to the elite of Nepal to set up large number of banking businesses. But its contribution to economic growth seems insignificant. Today, Nepali people are experiencing banking business next door to their residence.&nbsp;It indicates that the growth of monetary sector (particularly of the institutions dealing with money) in recent years have been increasing while the growth rate of real sector is declining.&nbsp;It seems there is a weak association between the growth of monetary and real sectors. Practically speaking, for a healthy and balanced economic development, there should be a strong correlation between them. In addition, private sector investment has been growing in the construction of large apartments and residential buildings and opening up of departmental stores. This provides a major market for investment by the banks. This shows that the current trend of economic activities in which the investments are pouring is not sustainable.&nbsp;These activities would sustain for a longer period only when the country achieves high economic growth.</span></div>
<div style="margin-bottom: 0.0001pt; text-align: justify; text-indent: 14.15pt; line-height: 11pt; vertical-align: middle;">
	<span style="font-size:12px;"><br />
	<br />
	</span></div>
<div style="margin-bottom: 0.0001pt; text-align: justify; text-indent: 14.15pt; line-height: 11pt; vertical-align: middle;">
	<span style="font-size:12px;">The ways in which our national income has been distributed irrespective of its shape and size among the citizens stands to cause devastating consequences. It can create social tensions and make the rich even richer. The unjust distribution of the fruits of democracy during 1990s has left us a great liability whose effect of course had been spreading all over the country. The nation has already lost over 13,000 lives. Despite such a huge loss of lives, the inequality today is still rising. The income gap between the rich and poor is more intense.&nbsp;Gini index with value between 0 and 1 (0 for perfect equality and 1 for perfect inequality) is used to measure the inequality in the distribution of income and wealth. At present, Nepal's Gini index a gauge of income gap, is 0.47. This index of 0.4 percent is considered a warning line Exceeding this mark signifies that the biggest part of the wealth cake is enjoyed by a minority. If the Gini index points below 0.2, income distribution is highly balanced, between 0.2 and 0.3 is a relatively balanced distribution, 0.4 and 0.5 means that the distribution is being largely spread &nbsp;and if it reaches 0.5, then, distribution is highly unbalanced. Nepalâ€™s Gini index is nearly 0.5 and it means the biggest part of the nation's income goes to only a few. It is because of the lack of equal access to opportunities. Opportunities inside the country are rare. Whatever opportunities are thesre inside the country, they are available only to those who are related with the powerful. Opening up the opportunities in most public sectors like police, military and civil service are not going to help as even such opportunities open other avenues for the powerful people for corruption. It indicates that the powerful and influential persons have hijacked opportunities, benefits, public spaces, shared resources, economic rights and political processes.<br />
	<br />
	<br />
	</span></div>
<div>
	<span style="font-size:12px;"><i><span style="line-height: 115%;">(Dr Dhungel is a Professor of Economics at Tribhuvan University, Kathmandu. He can be reached via email at </span></i><a href="mailto:kamal.raj.dhungel@gmail.com"><i><span style="line-height: 115%;">kamal.raj.dhungel@gmail.com</span></i></a><i><span style="line-height: 115%;">)</span><br />
	</i></span></div>
<div>
	<span style="font-size:12px;"><i>&nbsp;</i></span></div>',
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		'Article' => array(
			'id' => '304',
			'article_category_id' => '38',
			'title' => 'Developing Job Ownership: Key To Business Success',
			'sub_title' => '',
			'summary' => null,
			'content' => '<div style="margin-bottom: 0.0001pt; line-height: 120%; vertical-align: middle;">
	<i><span style="font-size: 8pt; line-height: 120%;"><img align="left" alt="" border="2" hspace="2" src="http://newbusinessage.com/ckfinder/userfiles/Images/rabindra karna.jpg" style="width: 98px; height: 130px;" vspace="1" />By Dr Rabindra Karna</span></i></div>
<div style="margin-bottom: 0.0001pt; text-align: justify; line-height: 11pt; vertical-align: middle;">
	<span style="font-size: 9.5pt;">Most people want to feel proud about their work and feel better for having performed to the satisfaction of business needs. While accepting assignments, projects or jobs they do so with with the sense of ownership. These are really professional people. They deal with others with a clear understanding of interdependence and give due consideration and respect to other departments, sections or functions.</span></div>
<div style="margin-bottom: 0.0001pt; text-align: justify; line-height: 11pt; vertical-align: middle;">
	Â </div>
<div style="margin-bottom: 0.0001pt; text-align: justify; text-indent: 14.15pt; line-height: 11pt; vertical-align: middle;">
	<span style="font-size: 9.5pt;">Job ownership by an employee plays crucial role for business success in todayâ€™s competitive global market. Businesses need continued progress in product development. Unless the people take this responsibility of product development with the sense of ownership, they will not put into it their full knowledge and experience and efforts. As a result, competitive advantage benefits will keep missing for all stake holders: the employee, the company, the customers and the investors. </span></div>
<div style="margin-bottom: 0.0001pt; text-align: justify; text-indent: 14.15pt; line-height: 11pt; vertical-align: middle;">
	Â </div>
<div style="margin-bottom: 0.0001pt; text-align: justify; text-indent: 14.15pt; line-height: 11pt; vertical-align: middle;">
	<span style="font-size: 9.5pt;">Anything consistently continued for a longer period will certainly convert into guaranteed success. Though many management scientists argue that â€™success in the life is not difficult to achieveâ€™, continuous move towards the destination is essential to achieve success. Money has never been the highest motivating factor for human resources at a work place. The most common motivators are security, work-life balance, efficiency, learning opportunity and recognition against efforts one puts for business success. </span></div>
<div style="margin-bottom: 0.0001pt; text-align: justify; text-indent: 14.15pt; line-height: 11pt; vertical-align: middle;">
	Â </div>
<div style="margin-bottom: 0.0001pt; text-align: justify; text-indent: 14.15pt; line-height: 11pt; vertical-align: middle;">
	<span style="font-size: 9.5pt;">Simultaneously, the most acknowledged motivator for business owners or investors is emotional attachment. Success and failure are mostly immaterial for them because failure is considered the only way to learn, in business. The challenge for them is not the knowledge but the work ethics, values and consistency to get results. This is called ownership mentality and the same applies for employees with job ownership attitude. </span></div>
<div style="margin-bottom: 0.0001pt; text-align: justify; text-indent: 14.15pt; line-height: 11pt; vertical-align: middle;">
	Â </div>
<div style="margin-bottom: 0.0001pt; text-align: justify; text-indent: 14.15pt; line-height: 11pt; vertical-align: middle;">
	<span style="font-size: 9.5pt;"><img align="left" alt="" border="2" hspace="2" src="http://newbusinessage.com/ckfinder/userfiles/Images/key.jpg" style="width: 238px; height: 340px;" vspace="1" />During recruitment phase, interviews are mostly centred on prospective and anticipated relationships. The standard contract is imposed on the employee as soon as an agreement is reached. However, it mostly escapes â€™detailing position and job profileâ€™. The fact remains that the actual rights and duties of employees emerge through interpersonal relationships built at the workplace during the course of working together. Hence, psychological contract becomes eminent to match one anotherâ€™s expectations contributing to higher level of performance and satisfaction. As long as common understanding and agreement in respect to the business mission, values, loyalty and respect exists between an employee and the employer, trust and commitment remain ensured. The relationship, if managed efficiently and effectively, will tie a stronger knot of mutual trust between the employer and employee matching the objectives and commitments necessary for business prosperity. In case it turns negative, it may result in disenchantment, de-motivation and resentfulness of authoritarianism within the organisation resulting in inefficient work, internal units not corresponding to the mission and objectives of the organisation and much more.</span></div>
<div style="margin-bottom: 0.0001pt; text-align: justify; text-indent: 14.15pt; line-height: 11pt; vertical-align: middle;">
	Â </div>
<div style="margin-bottom: 0.0001pt; text-align: justify; line-height: 11pt; vertical-align: middle;">
	<b><span style="font-size: 9.5pt;">The words â€™employeesâ€™ or â€™Staffâ€™, to the extent of psychological contract, signify:</span></b></div>
<div style="margin: 0in 0in 0.0001pt 9pt; text-align: justify; text-indent: -9pt; line-height: 11pt; vertical-align: middle;">
	<span style="font-size: 9pt; color: black;">&nbsp;</span><span style="font-size: 9pt;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Employersâ€™ behaviour and dealing with employees</span></div>
<div style="margin: 0in 0in 0.0001pt 9pt; text-align: justify; text-indent: -9pt; line-height: 11pt; vertical-align: middle;">
	<span style="font-size: 9pt;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Employeesâ€™ input to the job they are entrusted or hired for</span></div>
<div style="margin-bottom: 0.0001pt; text-align: justify; text-indent: 14.15pt; line-height: 11pt; vertical-align: middle;">
	<span style="font-size: 9.5pt;">Respect, trust, fairness and objectivity are equally important in a job because job holders like these are essential for a civilised society in general. From a wider perspective, these become complex and significant at workplace and especially in management practices mainly towards â€™change managementâ€™.</span></div>
<div style="margin-bottom: 0.0001pt; text-align: justify; text-indent: 14.15pt; line-height: 11pt; vertical-align: middle;">
	Â </div>
<div style="margin-bottom: 0.0001pt; text-align: justify; text-indent: 14.15pt; line-height: 11pt; vertical-align: middle;">
	<span style="font-size: 9.5pt;">The employer and employee relationship has grown in complexity with the emergence or growth of globalised skills market allowing very high mobility of people resources. Leadership is basically seen as representing the organisation and that reflects the aim and purposes of the organisation owners. Leadership in this context refers to the top management associates like Business Head, CEO etc.&nbsp;The nature of the relationship in transactional analysis is different to one that is limited to employee and employer. However, itâ€™s significant in terms of agreeing on mutual transparent expectations. Further, the management and organisational principles heavily depend on fair and balanced understandings between the employer and employee. </span></div>
<div style="margin-bottom: 0.0001pt; text-align: justify; text-indent: 14.15pt; line-height: 11pt; vertical-align: middle;">
	Â </div>
<div style="margin-bottom: 0.0001pt; text-align: justify; text-indent: 14.15pt; line-height: 11pt; vertical-align: middle;">
	<span style="font-size: 9.5pt;">Peopleâ€™s lives have become more varied, informed and better placed in recent days with the achievement of rapid growth by many economies. Human capital around the globe is equipped more with high awareness and hence, it not only wants more but also deserves more. Therefore, the employees naturally expect greater fulfilment in return for their services or association. The work itself has become far more richly diverse and complicated than ever before. </span></div>
<div style="margin-bottom: 0.0001pt; text-align: justify; text-indent: 14.15pt; line-height: 11pt; vertical-align: middle;">
	Â </div>
<div style="margin-bottom: 0.0001pt; text-align: justify; text-indent: 14.15pt; line-height: 11pt; vertical-align: middle;">
	<span style="font-size: 9.5pt;">There is an increased excitement in the work place these days. The excitement is because of the application of different business model named â€™employee ownershipâ€™ in corporations and cooperatives wherein employees and potentially the customers own the organisation and can therefore represent management mechanism. We see and experience glimpses here possibly as to how organisations might be run more fairly and sustainably in days to come. Globalisation and technology in recent days have shifted everything we knew in relation to organised work onto a totally different level in terms of complexity, rate of change, connectivity and the mobility of human resources and activities.</span></div>
<div style="margin-bottom: 0.0001pt; text-align: justify; text-indent: 14.15pt; line-height: 11pt; vertical-align: middle;">
	Â </div>
<div style="margin-bottom: 0.0001pt; text-align: justify; text-indent: 14.15pt; line-height: 11pt; vertical-align: middle;">
	<span style="font-size: 9.5pt;">Thus, if organisations truly want to make innovations, creating and encouraging job ownership is the key. This ownership is the investment from both the company (funding, balanced work culture) and the employee (time, knowledge, commitment) by allowing and generating acceptance as well as securing achievement towards personal responsibility for products, processes and different stakeholders involved with the organisation. Job ownership reflects business understanding in view of culture, goal, and customers etc facilitating interactions with various elements widely known as interpersonal skills. It forces people to display a selfless attitude ensuring and delivering not only acceptable but better, improved and acknowledgeable productivity.</span></div>
<div style="margin-bottom: 0.0001pt; text-align: justify; text-indent: 14.15pt; line-height: 11pt; vertical-align: middle;">
	Â </div>
<div style="margin-bottom: 0.0001pt; text-align: justify; text-indent: 14.15pt; line-height: 11pt; vertical-align: middle;">
	<span style="font-size: 9.5pt;">Getting people to think and act like owners has never been easy and hence, if employees accept and take up jobs considering themselves as owners, it must be considered a great achievement. Employees are motivated further in view of sustainability onto business expectations. Involving employees in decision making requires entrepreneurs to seek input from employees and must listen to them.&nbsp;The solution really lies in making them part of decision making. </span></div>
<div style="margin-bottom: 0.0001pt; text-align: justify; text-indent: 14.15pt; line-height: 11pt; vertical-align: middle;">
	Â </div>
<div style="margin-bottom: 0.0001pt; text-align: justify; text-indent: 14.15pt; line-height: 11pt; vertical-align: middle;">
	<span style="font-size: 9.5pt;">Ultimately, itâ€™s all about people and taking care of people resources for better productivity in terms of business sustainability. Promoting job ownership and acceptance in the true sense will certainly guarantee the realisation of organisational mission, goal and objectives. </span></div>
<div>
	<i><span style="font-size: 9.5pt; line-height: 115%;">(Dr Karna is the Executive Chairman of MARK Business Solutions Pvt Ltd and Ad Abhyas Marketing &amp; Communications Pvt Ltd. The article is based on various research reports and his practical experiences as management practitioner.)</span></i></div>',
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	(int) 3 => array(
		'Article' => array(
			'id' => '302',
			'article_category_id' => '50',
			'title' => 'Feedback May 2011',
			'sub_title' => '',
			'summary' => null,
			'content' => '<div style="margin-bottom: 0.0001pt; text-align: justify; line-height: 11pt; vertical-align: middle;">
	<span style="font-size:12px;"><strong>Federalism Is In <br />
	</strong><br />
	<br />
	<img align="left" alt="" border="1" height="299" hspace="5" src="http://newbusinessage.com/ckfinder/userfiles/Images/cover story.jpg" style="width: 227px; height: 299px;margin:10px;padding:10px;" vspace="5" width="227" /><br />
	Federalism is of prime importance given the current political circumstances. Unfortunately, we don;t hear about it being debated or discussed at the policy making level by the people who matter the esteemed law makers of the country. Therefore, it was good to have it covered as the cover story in the April issue of New Business Age which shed light on the fiscal face of federalism in Nepal.<br />
	<br />
	<br />
	</span></div>
<div style="margin-bottom: 0.0001pt; text-align: justify; text-indent: 14.15pt; line-height: 11pt; vertical-align: middle;">
	<span style="font-size:12px;">The politicians till now used federalism to their advantage by manipulating the ethnic sentiments of the countrymen. The federalism that would really give people the fruit of prosperity, rights and recognition is not even pronounced by the law makers. They are busy playing the political musical chair. The fiscal aspect of federalism needs a thorough discussion at the policy making level. The new constitution that is going to be promulgated sooner or later needs to incorporate federalism as the country has already been pronounced a federal republic. <br />
	<br />
	</span></div>
<div style="margin-bottom: 0.0001pt; text-align: justify; text-indent: 14.15pt; line-height: 11pt; vertical-align: middle;">
	<span style="font-size:12px;"><br />
	</span></div>
<div style="margin-bottom: 0.0001pt; text-align: justify; text-indent: 14.15pt; line-height: 11pt; vertical-align: middle;">
	<span style="font-size:12px;">Until now, federalism has not become more than an emotional bait to win the sentiments of different communities that have fallen back in the race of mainstreaming. The devolution of states based on ethnicity is the example of that principle. The ethnicity-based federalism is a slogan raised by political parties for cheap popularity. In the end, it is not going to meet the expectations of the ethnic communities. Experts opine that ethnic federalism is a suicidal approach.</span></div>
<div style="margin-bottom: 0.0001pt; text-align: justify; text-indent: 14.15pt; line-height: 11pt; vertical-align: middle;">
	<span style="font-size:12px;"><br />
	<br />
	</span></div>
<div style="margin-bottom: 0.0001pt; text-align: justify; text-indent: 14.15pt; line-height: 11pt; vertical-align: middle;">
	<span style="font-size:12px;">Overall development must be an agenda and the major goal of federalism. Economic base is something that cannot be taken lightly while devolving the states. The map should be sketched in a manner that would equally and justly divide resources among states to guarantee the autonomy of the state nations. Lawmakers should not delay discussing such important aspects.</span></div>
<div style="margin-bottom: 0.0001pt; text-align: justify; text-indent: 14.15pt; line-height: 11pt; vertical-align: middle;">
	<span style="font-size:12px;"><br />
	<br />
	</span></div>
<div style="text-align: justify;">
	<span style="font-size:12px;"><span style="line-height: 115%;">The world has witnessed the failure of many nation states. We cannot be assured that, as a country, we are going to be an exception. We must look to divide states in a way that they can sustain on their own and meet their economic needs. Otherwise, we may be left to blame ourselves for the failure of federalism that we hold high expectations from. Lawmakers should now concentrate on the country's development rather than spending their time and energy to save their jobs as Constituent Assembly Member by indefinitely extending it without an end result.<br />
	<br />
	</span></span></div>
<div style="margin-bottom: 0.0001pt; text-align: justify; line-height: 11pt; vertical-align: middle;">
	<span style="font-size:12px;"><b>- Bibash Aryal</b></span><br />
	Paknajole, Kathmandu<br />
	 </div>
<div style="text-align: justify;">
	<p style="text-align: center;">
		<span style="font-size:12px;"><b><span style="line-height: 115%;"><br />
		<br />
		---------------------------------------------------------------------------------------------------------------<br />
		<br />
		<br />
		<br />
		</span></b></span></p>
	<div style="text-indent: 0in; text-align: justify;">
		<span style="font-size:12px;"><span style="color: rgb(0, 0, 0);"><strong>The Divided Business Community</strong><br />
		<br />
		The Biztoon in your New Business Age's April issue caught my attention. It raised a question as to who actually represents the business community. The business community in Nepal is responsible for creating jobs for thousands. The contribution to the economy made by the private sector is definitely praiseworthy. It currently lacks a favourable investment climate. The aspiring and emerging entrepreneurs can do wonders if the business leadership can lead the community competitively. Some industrialists have become parliament members in the hope of representing the business fraternity only to get entangled in world of messy politics themselves. In this regard, the umbrella association of the business community, FNCCI, must set an example and lead the community to unprecedented economic development. It's a relief that the FNCCI elections are over. I hope that no two (or are there more?) panels exist now and the elected executive committee will work for a common agenda.<br />
		<br />
		</span></span></div>
	<div style="margin-bottom: 0.0001pt; text-align: justify; line-height: 11pt; vertical-align: middle;">
		<span style="font-size:12px;"><span style="color: rgb(0, 0, 0);"><b>- Basanta Sharma</b></span></span></div>
	<div style="text-align: justify;">
		<span style="font-size:12px;"><span style="color: rgb(0, 0, 0);"><b><span style="line-height: 115%;">New Road<br />
		<br />
		<br />
		</span></b></span></span></div>
	<p style="text-align: center;">
		 </p>
	<p style="text-align: center;">
		<span style="font-size:12px;"><b><span style="line-height: 115%;">---------------------------------------------------------------------------------------------------------------</span></b></span><br />
		<span style="font-size:12px;"> <br />
		<br />
		<br />
		<b><span style="line-height: 115%;"> <br />
		</span></b></span></p>
</div>',
			'published' => true,
			'created' => '2011-05-31',
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			'keywords' => '',
			'description' => 'Federalism is of prime importance given the current political circumstances. Unfortunately, we don't hear about it being debated or discussed at the policy making level by the people who matter the esteemed law makers of the country.',
			'sortorder' => '227',
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	(int) 4 => array(
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			'article_category_id' => '50',
			'title' => 'Feedback April 2011',
			'sub_title' => '',
			'summary' => null,
			'content' => '<p>
	<strong>Make The Most Of The Sun</strong></p>
<div style="text-align: justify;">
	<p class="MsoNormal" style="margin-bottom: 0.0001pt; text-align: justify; text-indent: 14.15pt; line-height: 11pt; vertical-align: middle;">
		<span style="font-size: 12px;"><span style="font-family: "><br />
		I</span><span style="">n Nepal, we are fortunate to have sunshine round the year. Rajan Pradhan in his article, Producing Energy, the Solar Way in the March issue of New Business Age has written that Nepal has the potential of producing 26,000 Mega Watts of solar energy. Going by this account, we are rich in this alternate source of power besides the usual and much promised hydropower.<br />
		<br />
		</span></span></p>
	<p class="MsoNormal" style="margin-bottom: 0.0001pt; text-align: justify; text-indent: 14.15pt; line-height: 11pt; vertical-align: middle;">
		<span style="font-size: 12px;"><span style="font-family: ">Though we have resources, we are people who are forced to spend our lives in darkness, for most part of the day and night. Power cut reaching up to 18 hours a day is a pathetic state-of-affairs, to say the least. It seems we are training ourselves to live without electricity. Since the successive governments have failed oh-so-miserably in providing a solution, the time has come for us people to take the matter in our own hands and start generating power ourselves. <br />
		<br />
		</span></span></p>
	<p class="MsoNormal" style="margin-bottom: 0.0001pt; text-align: justify; text-indent: 14.15pt; line-height: 11pt; vertical-align: middle;">
		<span style="font-size: 12px;"><span style="font-family: ">Business houses and industries have started doing so. Most of the households too have made their arrangement of UPS or invertors. However, very few have thought about installing solar power. As Pradhan observes it could be due to the high EMI on loan. Though it might seem expensive for first time installation, it is relatively cheaper over the long term. Solar panel can meet daily power needs and save on outrageous monthly electricity bills. I personally have seen this in villages where households have installed solar panels before electrification reached them. Despite electricity authority reaching them now, they refuse to subscribe to conventional power as they are happy with their existing arrangement. The solar electricity produced in households can even be supplied to the national grid like in the European countries if adequate provisions can be made. <br />
		<br />
		</span></span></p>
	<p class="MsoNormal" style="text-align: justify;">
		<span style="font-size: 12px;"><span style="line-height: 115%; font-family: ">The government must think about providing subsidies and soft loans and introduce special schemes to those who want to use the alternative energy which is also eco friendly and easily available. Either the government must end the power crisis immediately or help people install the solar option.</span></span></p>
	<p style="text-align: justify;">
		 </p>
	<p class="MsoNormal" style="margin-bottom: 0.0001pt; text-align: justify; line-height: 11pt; vertical-align: middle;">
		<span style="font-size: 12px;"><b><span style="font-family: ">- Surya Chapagain</span></b></span></p>
	<p class="MsoNormal" style="text-align: justify;">
		<span style="font-size: 12px;"><b><span style="line-height: 115%; font-family: ">Satdobato</span></b></span></p>
	<p class="MsoNormal" style="text-align: center;">
		 </p>
	<p class="MsoNormal" style="text-align: center;">
		<span style="font-size: 12px;"><b>----------------------------------------------------------------------------------------------------------------------------------------------------------------------------</b></span><span style="font-size: 16px;"><strong><span style="line-height: 115%; font-family: "> <br />
		</span></strong></span></p>
	<p style="text-align: center;">
		 </p>
	<p class="BODYTEXT" style="text-align: justify; text-indent: 0in;">
		<span style="font-size: 16px;"><strong><span style="font-family: ">Stop Terrorising Businesses<br />
		<br />
		</span></strong></span></p>
	<p class="BODYTEXT" style="text-indent: 0in; text-align: justify;">
		<span style="font-size: 12px;"><span style="color: rgb(182, 21, 31);">N</span>epal is experiencing a slow pace of economic growth and even slower industrialisation. The power woes and unstable political environment are impeding the countryâ€™s growth. Business houses always emphasise that stable political situation and lasting peace and security are imperative for industrialisation. An investment friendly environment cannot be created without a stable socio political environment. <br />
		<br />
		</span></p>
	<p class="BODYTEXT" style="text-align: justify;">
		<span style="font-size: 12px;">In the last week of March, we have seen fresh cases of impunity in the Terai where most industries are located. Such incidences would affect businesses and investor psychology about the future.&nbsp; This would further derail the process of economic growth.&nbsp; Such activities are adding pressure to the already existing troubles. The concerned groups must start thinking about the nation and economic prosperity. Everybody needs to understand that without the development of industries and private sector, Nepal cannot tread on the path of sustainable growth and development.</span></p>
	<p style="text-align: justify;">
		 </p>
	<p class="MsoNormal" style="margin-bottom: 0.0001pt; text-align: justify; line-height: 11pt; vertical-align: middle;">
		<span style="font-size: 12px;"><b><span style="font-family: ">- Narayan Prasad Adhikari</span></b></span></p>
	<p class="MsoNormal" style="text-align: justify;">
		<span style="font-size: 12px;"><b><span style="line-height: 115%; font-family: ">Chitwan</span></b></span></p>
	<p style="text-align: center;">
		 </p>
	<p class="MsoNormal" style="text-align: center;">
		<span style="font-size: 12px;"><b>----------------------------------------------------------------------------------------------------------------------------------------------------------------------------</b></span></p>
	<p class="MsoNormal" style="text-align: justify;">
		<span style="font-size: 12px;"><b><span style="line-height: 115%; font-family: "><br />
		</span></b></span></p>
	<p style="text-align: justify;">
		 </p>
	<p class="BODYTEXT" style="text-align: justify; text-indent: 0in;">
		<span style="font-size: 16px;"><strong><span style="font-family: ">Banks Must Get More Responsible</span></strong></span></p>
	<p class="BODYTEXT" style="text-indent: 0in; text-align: justify;">
		<span style="font-size: 12px;"><span style="color: rgb(182, 21, 31); letter-spacing: -0.1pt;">T</span><span style="letter-spacing: -0.1pt;">he cover story on banking industry in your March issue portrayed a detailed picture of this sector. The growth of the banking and financial institutions is a good thing but their limited reach to the rural areas is a worrisome attribute. <br />
		</span></span></p>
	<p class="BODYTEXT" style="text-align: justify;">
		<span style="font-size: 12px;"><span style="letter-spacing: -0.1pt;">Time and again, there are issues of banks and finance companies failure. Recent examples include Samjhana Finance and Gurkha Development Bank. Some might say this is bound to happen given the crowd of 272 banks and financial institutions. But this is not something that cannot be controlled. The closure or failure of a bank is not comparable to the closure of a retail shop on a street corner. A financial institution's closure leaves a huge crater on the entire economy. <br />
		</span></span></p>
	<p class="BODYTEXT" style="text-align: justify;">
		<span style="font-size: 12px;"><span style="letter-spacing: -0.1pt;">&nbsp;The story rightly point out that this is a well regulated sector. However, despite such regulation and strong monitoring by the Nepal Rastra Bank, incidences of failure occur time and again. Such incidents repeating amidst central bank regulations are rather unfortunate. Most of the time, failure of corporate governance has resulted into such mishaps. Probably, some of the banks owners or the management teams do not take their institutions and the depositors seriously enough. In some cases, they themselves manage to lead the company on the verge of collapse. <br />
		</span></span></p>
	<p class="BODYTEXT" style="text-align: justify;">
		<span style="font-size: 12px;"><span style="letter-spacing: -0.1pt;">They take huge amount of loans behind the scene which later proves to be non performing loans or show investment in areas that does not give any returns. Such practices bear the potential to eventually lead the company towards bankruptcy. In the bargain, it's the depositors in particular and the economy in general which stands to suffer. The report shows Rs 15 billion as the negative net worth of just two banks. This is a ticking time bomb that may explode any time. <br />
		</span></span></p>
	<p class="BODYTEXT" style="text-align: justify;">
		<span style="font-size: 12px;"><span style="letter-spacing: -0.1pt;">So, the regulations may not prove to be successful every time. Companies must maintain self- discipline, good corporate governance and realise the importance of their respective financial institutions. They must not forget theirs is not a business house only. There is tremendous responsibility on their shoulders that they must fulfill.</span></span></p>
	<p style="text-align: justify;">
		 </p>
	<p class="MsoNormal" style="margin-bottom: 0.0001pt; text-align: justify; line-height: 11pt; vertical-align: middle;">
		<span style="font-size: 12px;"><b><span style="font-family: ">- Samiksha Budhathoki</span></b></span></p>
	<p class="MsoNormal" style="text-align: justify;">
		<span style="font-size: 12px;"><b><span style="line-height: 115%; font-family: ">Gairigaun, Kathmandu</span></b></span></p>
	<p style="text-align: justify;">
		 </p>
	<br />
	<span style="font-size:12px;"><b> <br />
	</b></span></div>',
			'published' => true,
			'created' => '2011-05-31',
			'modified' => '2012-08-28',
			'keywords' => '',
			'description' => 'Now, the governance is not limited to the way how the state and bureaucracy functions. This is something which is gaining popularity among the corporate houses too.',
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	(int) 5 => array(
		'Article' => array(
			'id' => '299',
			'article_category_id' => '42',
			'title' => 'CDS Charms Low; Stock Negative',
			'sub_title' => '',
			'summary' => null,
			'content' => '<div style="margin-bottom: 0.0001pt; line-height: 120%; vertical-align: middle; text-align: justify;">
	<i><span style="font-size: 8pt; line-height: 120%;"><img align="left" alt="stocktaking" border="1" height="127" hspace="5" src="http://newbusinessage.com/ckfinder/userfiles/Images/bikram.jpg" style="width: 105px; height: 127px;margin:10px;padding:10px;" vspace="5" width="105" />By Bikram Chitrakar</span></i></div>
<div style="text-align: justify;">
	<br />
	 </div>
<div style="text-indent: 0in; text-align: justify;">
	<span style="font-size: 14px;">T</span><span style="font-size: 8pt;">he Nepali share market had a lacklustre performance also in the month during March 20-April 19 despite the inauguration of eagerly awaited Central Depository System and Clearing Ltd. Also the prospect of good third quarter financial results did not help the market sentiment. The benchmark NEPSE index dropped 15.16 points or 4.16% to settle at 364.3 points. The session's highest was on 21 March with 379.46 while the session's lowest was on 29 March with 358.04.<br />
	<br />
	<br />
	</span></div>
<div style="text-align: justify;">
	<span style="font-size: 8pt; letter-spacing: -0.05pt;">Central Depository System (CDS) and Clearing Ltd was formally inaugurated on 31 March, 2011 which was keenly expected by the investors of Nepal. Despite its opening, the market could not take off as investors were more worried about the scenario after the May 28 deadline for promulgation of the countryâ€™s new constitution lapses. </span></div>
<div style="text-align: justify;">
	<br />
	 </div>
<div style="text-align: justify;">
	<span style="font-size: 8pt;">The automated system of CDS will facilitate speedy and safe clearing and settlement of transactions. The safety and security of the digital holding of shares will eliminate fraud and misuse of share certificates while the flow of shares will increase in the market due to instant transfer. One reaction of the market to the new development is that heavy volume of scrip was traded through matching , particularly towards the first half of April. The trade volume during the period was higher than the average despite the index closing at a lower level. The increased cases of matching during this period is explained by the fact that matching is going to be difficult under the CDS system. Therefore, the investors who had bought shares in the IPOs under fictitious names were transferring such shares on their real names and in doing so they pressed the prices lower to reduce the capital gains tax.&nbsp;</span></div>
<div style="text-align: justify;">
	<br />
	 </div>
<div style="text-align: justify;">
	<span style="font-size: 8pt; letter-spacing: -0.1pt;">Securities Board of Nepal (SEBON) organised an interaction programme during the month about the regulation it has drafted to allow setting up credit rating agencies in Nepal. This draft now needs to be approved by the Ministry of Finance beofre they can go for implementation. After the establishment of these agencies, the issues (IPO, rights) exceeding Rs. 100 million size will have to be rated by such agencies before they are floated to the public. </span></div>
<div style="text-align: justify;">
	<br />
	 </div>
<div style="text-align: justify;">
	<br />
	 </div>
<div style="text-align: justify;">
	<strong><span style="font-size: 8pt;">Performance by Sector<br />
	<br />
	<br />
	</span></strong></div>
<div style="text-align: justify;">
	<span style="font-size: 8pt; letter-spacing: -0.05pt;">Commercial banking sector that accounts for the highest volume of trade in the exchange lost 27.73 points or 9.01% to settle at 307.73. Manufacturing and processing sector dropped 25.54 points to 500.59. to close at 434.83 and 312.1 respectively. Insurance sub-indices lost 17.30 points to settle at 448.83 while finance sector plummets 5.70 points or 1.83% to close at 310.91. However, the hydropower sector gained 71.22 points or 9.80% to settle at 726.97. </span></div>
<div style="text-align: justify;">
	<br />
	 </div>
<div style="text-align: justify;">
	<span style="font-size: 8pt;">A total of Rs 492,513,784 was realised during the review period from 1,985,844 units of share trade via 30,739 transactions.</span></div>
<div style="text-align: justify;">
	<br />
	 </div>
<div style="text-align: justify;">
	<span style="font-size: 8pt;">The accompanying figure shows sector-wise distribution based on the total amount of trades. The commercial banks accounted for 44.20% whereas the insurance sector constituted 16.35% which is more than that of the finance companies which stood at 14.80%. Similarly, the development banks hold 13.80% while rest of the sectors covered the remaining portion of the trade.</span></div>
<div style="text-align: justify;">
	<br />
	 </div>
<div style="text-align: justify;">
	<span style="font-size: 8pt; letter-spacing: -0.15pt;">Technically, the Simple Moving Average (SMA) is dominating the market as both 30 days SMA and 200 Days SMA are above the trend line. It indicates possibility of a further downfall.<br />
	<br />
	<br />
	</span></div>
<div style="text-align: justify;">
	<i><span style="font-size: 8pt;">(Chitrakar is a Stock Analyst with Jamb Technologies Pvt Ltd.)</span></i></div>',
			'published' => true,
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			'description' => 'The Nepali share market had a lacklustre performance also in the month during March 20-April 19 despite the inauguration of eagerly awaited Central Depository System and Clearing Ltd.',
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	(int) 6 => array(
		'Article' => array(
			'id' => '298',
			'article_category_id' => '47',
			'title' => 'An Unassuming Rana',
			'sub_title' => '',
			'summary' => null,
			'content' => '<div style="margin-bottom: 0.0001pt; text-align: justify; line-height: 120%; vertical-align: middle;">
	<b><span style="font-size: 8pt; line-height: 120%;"><img align="left" alt="rana" border="1" height="247" hspace="5" src="http://newbusinessage.com/ckfinder/userfiles/Images/personality(1).jpg" style="width: 205px; height: 247px;margin:10px;padding:10px;" vspace="5" width="205" /></span></b></div>
<div style="margin-bottom: 0.0001pt; line-height: 120%; vertical-align: middle;">
	<span style="font-size:12px;"><b><span style="line-height: 120%;">Umang SJB Rana</span></b></span></div>
<div style="margin-bottom: 0.0001pt; line-height: 120%; vertical-align: middle;">
	<span style="font-size:12px;"><span style="line-height: 120%;">CEO</span></span></div>
<div>
	<span style="font-size:12px;"><span style="line-height: 115%;">Westar Properties<br />
	</span></span><span style="line-height: 115%;"><br />
	</span></div>
<div style="text-align: justify;">
	<span style="font-size: 8pt;">Horseback rides, adventure sports and lots of fun aside, Umang Rana's disciplinarian parents ensured he learnt to respect everybody. He expresses his gratitude for the earthly values his parents instilled in him right since his childhood. </span></div>
<div>
	<br />
	 </div>
<div style="text-indent: 0in;">
	<strong><i><span style="font-size: 8pt;">By Pinaki Roy<br />
	<br />
	</span></i></strong></div>
<div style="margin-bottom: 0.0001pt; vertical-align: middle; text-align: justify;">
	<span style="font-size: 12px;">B</span><span style="font-size: 9.5pt;">orn into Rana aristocracy, Umang SJB Rana, the CEO of Westar Properties did not have life served on a platter for him. Not that his family couldn't afford so, it was because his parents wanted to instil earthly values in him right since his childhood. Rana expresses his gratitude for the same, I am what I am today largely because of my parents and the values they taught me.</span></div>
<div style="margin-bottom: 0.0001pt; line-height: 11pt; vertical-align: middle;">
	<br />
	 </div>
<div style="margin-bottom: 0.0001pt; text-indent: 14.15pt; line-height: 11pt; vertical-align: middle; text-align: justify;">
	<span style="font-size: 9.5pt;">The first child of Former Deputy Inspector General of Nepal Police Rupal SJB Rana and Montessori Teacher Usha Rana, he went to Dipendra Police School (which is now Nepal Police School), Sanga. Rana considers himself blessed to have travelled the length and breadth of Nepal, Being a policeman, my father relocated frequently to different parts of Nepal. I visited no less than 13 zones myself during my school vacations.&nbsp;</span></div>
<div style="margin-bottom: 0.0001pt; text-indent: 14.15pt; line-height: 11pt; vertical-align: middle;">
	<br />
	 </div>
<div style="margin-bottom: 0.0001pt; text-indent: 14.15pt; line-height: 11pt; vertical-align: middle; text-align: justify;">
	<span style="font-size: 9.5pt;">His father wanted at least one of his two sons to join the defence forces but young Umang had different ideas in mind. After completing his A-Level from Nagarjuna Academy and ISc from St Xavier's College, Rana left for Russia to study Civil Engineering. But he left the study midway and returned home two years later. I just couldn't complete it. I fell home sick, he admits in a near apologetic tone. Back in Nepal, he began pursuing Bachelor of Business Studies degree with specialisation in Human Resource. While still in college, Rana landed his first paid job a month long stint with Surya Tobacco Company (now Surya Nepal) for its product introduction. I was on the streets promoting the new product to the passers-by and asking them to try it. Each day, they will send me to a new location, he reminisces. </span></div>
<div style="margin-bottom: 0.0001pt; text-indent: 14.15pt; line-height: 11pt; vertical-align: middle;">
	<br />
	 </div>
<div style="margin-bottom: 0.0001pt; text-indent: 14.15pt; line-height: 11pt; vertical-align: middle;">
	<span style="font-size: 9.5pt;">An introvert since early childhood, Rana had quite a few female acquaintances but never a serious relationship. He is happily married for seven years now and has a two-year-old son. You ask him about his school friends and he goes, Most of my friends from school are settled abroad. But I do come across the ones that are still here.Rana's wife Aashmi who owns Himali Pashmina Udyog was instrumental in goading him to turn a businessman. He says, I am lucky to have her as my life partner. She inspired me to take up business for a profession.</span></div>
<div style="margin-bottom: 0.0001pt; text-indent: 14.15pt; line-height: 11pt; vertical-align: middle;">
	<br />
	 </div>
<div style="margin-bottom: 0.0001pt; text-indent: 14.15pt; line-height: 11pt; vertical-align: middle; text-align: justify;">
	<span style="font-size: 9.5pt;">Venturing into business ended his career as a DHL executive. Rana had started out at DHL as an Assistant Operations Coordinator in 1999 and worked up the ladder to become its Country Operations Manager before he left in 2007. â€œI must say it was a rewarding career, he admits. Having travelled the entire South East Asia for his work, he had little left to achieve unless he wanted to take up a position with the company abroad. This is another factor that triggered his retirement from DHL as he did not want to move out of Nepal. After weighing several options, Rana finally decided to plunge into construction as, Apartment business was much in demand around three years ago which led to my decision to enter this line of business.One thing led to another and he entered into a technical collaboration with Westar Properties, Dubai. </span></div>
<div style="margin-bottom: 0.0001pt; text-indent: 14.15pt; line-height: 11pt; vertical-align: middle;">
	<br />
	 </div>
<div style="margin-bottom: 0.0001pt; text-indent: 14.15pt; line-height: 11pt; vertical-align: middle; text-align: justify;">
	<span style="font-size: 9.5pt;">Rana asserts that you can call a project a success only when it gets completed. It is precisely when commitment gets delivered and a dream turns into reality. He gets a bit emotional talking about his current project Westar Residency, a Vaastu compliant high-rise apartment building at Balkumari, Lalitpur. This is my baby. I have been involved with the project from scratch and it's immensely satisfying to see it taking shape,he says. A planner, by his own admission, he recommends infrastructure as a prime importance and wants the government to ensure infrastructure development for the overall development of the country.&nbsp;</span></div>
<div style="margin-bottom: 0.0001pt; text-indent: 14.15pt; line-height: 11pt; vertical-align: middle;">
	<br />
	 </div>
<div style="margin-bottom: 0.0001pt; text-indent: 14.15pt; line-height: 11pt; vertical-align: middle; text-align: justify;">
	<span style="font-size: 9.5pt;">He believes he was born with a golden heart, I go out of my way to help people. I guess it comes naturally to me.He is a religious person and prays for self-satisfaction. He draws inspiration from Bhagavad Gita your good actions automatically come back to you, sooner or later. Living in a joint family, he is a self-confessed homely person. He says that living in a joint family comes with a lot of advantages as well as responsibilities. On week days, it's a strict home-to-office and vice versa. He loves to catch up on movies though, with his wife and parents. He says, I am glad that there are a few good movie theatres now that we can go to.</span></div>
<div style="margin-bottom: 0.0001pt; text-indent: 14.15pt; line-height: 11pt; vertical-align: middle;">
	<br />
	 </div>
<div style="margin-bottom: 0.0001pt; text-indent: 14.15pt; line-height: 11pt; vertical-align: middle; text-align: justify;">
	<span style="font-size: 9.5pt;">Not a party animal, he normally attends social occasions only. Late nights are a complete no-no, I don't have this urge like a lot of other people to attend the so-called happening events in town.You will usually find Rana comfortably attired. He believes in dressing for the occasion. Clad in a suit while showing around his sample flats, he can be caught wearing shorts and T-shirts in summer. At other times, he loves to wear daura-suruwal for&nbsp; family functions. </span></div>
<div style="margin-bottom: 0.0001pt; text-indent: 14.15pt; line-height: 11pt; vertical-align: middle;">
	<br />
	 </div>
<div style="text-align: justify;">
	<span style="font-size: 9.5pt; line-height: 115%;">He says it's just the right time for him to work hard, I am giving it all I have, for the completion of Westar Residency by its projected deadline 4th Qtr of 2012. Once the mission is accomplished, Rana wants to expand his business horizon and move into other sectors depending on the direction the nation's economy heads towards in the next 5-10 years. At present, the uncertainty level is very high so I am yet to identify my future business course, he explains. He has kept all options open and wants to enter businesses that have values. A firm believer in the adage, œlearning never stops, success is not only about creating wealth for him. Letting go of bachelorhood and becoming a father later transformed him as a person, he says. My marriage and the birth of my son has made me become more responsible socially and had me planning for the future, he reveals. Having led quite a privileged life, Rana doesn't have any major regrets and is content with everything god has to offer. </span></div>
<div>
	<br />
	<br />
	 </div>
<div style="margin: 0in 0in 0.0001pt 70pt; text-indent: -70pt; line-height: 11pt; vertical-align: middle;">
	<strong><span style="font-size: 10pt;">On the Side<br />
	<br />
	</span></strong></div>
<ul>
	<li>
		<b><span style="font-size: 9.5pt;">Sports : </span></b><span style="font-size: 9.5pt;">Played football, basketball, badminton, tennis, cricket, volleyball&nbsp; you name it! Tried his hands at golf too, for a week,&nbsp; a time consuming sport. I will take it up full time later in life.<br />
		</span></li>
	<li>
		<b><span style="font-size: 9.5pt;">Pets :&nbsp;</span></b><span style="font-size: 9.5pt;">Owns a Tibetan Dog. Loves animals, Playing with them works as a stress buster.<br />
		</span></li>
	<li>
		<b><span style="font-size: 9.5pt;">Mobile Phones :</span></b><span style="font-size: 9.5pt;"> Any model that can receive and make phone calls is good enough. Not a gadget freak.<br />
		</span></li>
	<li>
		<b><span style="font-size: 9.5pt;">Car:&nbsp;</span></b><b><span style="font-size: 9.5pt;"> </span></b><span style="font-size: 9.5pt;">Has a fascination for automobiles. Currently drives a Mitsubishi Pajero. Prefers to drive an SUV as it is ideal for his weekend travels.<br />
		</span></li>
	<li>
		<b><span style="font-size: 9.5pt;">Television : </span></b><span style="font-size: 9.5pt;">Mainly News channels including Al Jazeera and BBC.<br />
		</span></li>
	<li>
		<b><span style="font-size: 9.5pt;">Movies&nbsp; :</span></b><span style="font-size: 9.5pt;"> Favourite genre&nbsp; Action flicks. Mad about actor Steven Seagal.<br />
		</span></li>
	<li>
		<b><span style="font-size: 9.5pt;">Food&nbsp; : </span></b><span style="font-size: 9.5pt;">Daal Bhaat Rice is my biggest weakness. Also likes Japanese and Chinese food.</span><span style="font-size: 10pt;">Trivia:</span></li>
</ul>
<p>
	 </p>
<p>
	<strong>Other<br />
	</strong></p>
<ul>
	<li>
		<span style="font-size: 9.5pt; color: rgb(157, 10, 14);">&nbsp;</span><span style="font-size: 9.5pt;">Rana wanted to learn piloting, a childhood dream he never pursued. </span></li>
	<li>
		<span style="font-size: 9.5pt; color: rgb(157, 10, 14);">&nbsp;</span><span style="font-size: 9.5pt;">His father's wish finally came true My younger brother joined the police, he quips. </span></li>
	<li>
		<span style="font-size: 9.5pt; color: rgb(157, 10, 14);">&nbsp;</span><span style="font-size: 9.5pt;">A terrible liar I find it difficult to lie because when I do, it reflects on my face</span></li>
	<li>
		<span style="font-size: 9.5pt; line-height: 115%;">For a rush delivery while at DHL, he momentarily forgot his work designation and drove a delivery van.</span></li>
</ul>
<p>
	 </p>
<p>
	 </p>',
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			'description' => 'Born into Rana aristocracy, Umang SJB Rana, the CEO of Westar Properties did not have life served on a platter for him.',
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			'title' => 'Dr Supachai Panitchpakdi',
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			'content' => '<p>
	<span style="font-size: 14px;"><strong><br />
	</strong></span></p>
<p>
	<span style="font-size: 14px;"><strong>Trade Should Be Harnessed To Ensure Development</strong></span></p>
<p>
	 </p>
<p>
	<span style="font-size:14px;"><strong><br />
	</strong></span></p>
<div style="text-align: justify;">
	<span style="font-size:12px;"><img align="left" alt="WTO" border="1" height="185" hspace="5" src="http://newbusinessage.com/ckfinder/userfiles/Images/interview1(1).jpg" style="width: 266px; height: 185px;margin:10px;padding:10px;" vspace="5" width="266" />Dr Supachai Panitchpakdi is the Secretary-General of the UN Conference on Trade and Development (UNCTAD), a post he first took up in September 2005. Prior to this, he was the Director-General of the World Trade Organisation (WTO). A PhD in Economic Planning and Development from the Netherlands School of Economics (now Erasmus University Rotterdam), he also served as Thailand's Deputy Prime Minister, Minister of Commerce and Deputy Minister of Finance on different times.&nbsp;Dr Supachai was in Kathmandu recently to attend the Regional Workshop on Productive Capacities, Economic Growth and Poverty Reduction in Asian and the Pacific LDCs. In an interview with Gaurav Aryal of <i>New Business Age</i>, he shared his views on economic, trade and development issues of the Least Developed Countries (LDCs).&nbsp;Excerpts:</span></div>
<div style="text-align: justify;">
	<span style="font-size:12px;"><br />
	<br />
	</span></div>
<div style="text-align: justify;">
	<span style="font-size:12px;"><strong>UNCTAD is organising a series of regional workshops to disseminate the findings of its reports such as Least Developed Countries Report, UNCTADâ's Division for Africa, Least Developed Countries and Special Programmes (ALDC) etc. What are the general findings of these reports?<br />
	<br />
	</strong></span></div>
<div style="text-align: justify;">
	<span style="font-size:12px;">We are trying to concentrate on the areas of structural adjustments mainly in supporting the work of the states. We are trying to create productive capacity which means jobs creation, investment in infrastructure, investment in power plants and education. Our findings say that economic growth is needed to create social welfare for people. It does not happen automatically. So, there has to be definite development governance that would direct all the gains from growth to areas that would give people the right to participate, have transparency and decision making process as well as in the areas of trade. LDCs are essentially small economies. So, we think an LDC should make efforts to mainstream trade policy into its national development policy. The domestic markets are not enough to maintain basic demand so they need external demand too. For this, they need access in the international market. Special concessions given by the advanced countries for the LDCs will be crucial. It should be the heart of what we call early harvest for Doha negotiation.</span></div>
<div style="text-align: justify;">
	<span style="font-size:12px;"><br />
	<br />
	</span></div>
<div style="text-align: justify;">
	<span style="font-size:12px;"><strong>What can Nepal learn from the experience of other developing countries?<br />
	<br />
	</strong></span></div>
<div style="text-align: justify;">
	<span style="font-size:12px;">First of all, development governance is very important. If you look at countries like Malaysia and Korea, these developing countries have actually showed the way for industrialisation process where the government has been taking the lead. They support industrial zones, put up investment policy that attract foreign direct investment (FDI) in technology related areas and create trade infrastructure in terms of ports, transportation facilities and trading firms. For example, they have trading firms that help promote the products in foreign countries. Nepal can also learn from their monetary policy that is customer focal. In the area of tourism, Nepal is doing well but it can certainly do better. More investment is required to attract tourists but it is important at the same time, to keep the negative effect of tourism under control.</span></div>
<div style="text-align: justify;">
	<span style="font-size:12px;"><br />
	<br />
	</span></div>
<div style="text-align: justify;">
	<span style="font-size:12px;"><strong>Despite having ample resources, poor countries have extremely low economic growth. Could you highlight the key issues where LDCs like Nepal fail in formulating trade and economic policies?<br />
	<br />
	</strong></span></div>
<div style="text-align: justify;">
	<span style="font-size:12px;">I am not clear about Nepal but many LDCs have remained too dependent on few commodities. They have also failed most of the time to pursue positive development. This is an area in which it needs investment from the government sector for extended service, irrigation projects, water management and to build roads in the rural areas.&nbsp;The government also needs to provide support and subsidies for farmers in rural areas where they do not enjoy enough income to sustain themselves. LDCs also need to sustain in the areas of gender and women. In Africa, for example, women are the most underutilised productive capacity. In Asia, we still need legal reform that would put women rights, wage level, welfare treatment, education etc at par with men.&nbsp;LDCs can also learn from countries that have performed well in domestic resource mobilisation because one has to develop the domestic financial market. The banking system must be solid and it needs prudential supervision by the government so that more savings can be mobilised. You can have more resources here in Nepal itself and you don't have to be totally dependent on foreign aid.</span></div>
<div style="text-align: justify;">
	<span style="font-size:12px;"><br />
	<br />
	</span></div>
<div style="text-align: justify;">
	<span style="font-size:12px;"><strong>You have been part of the Thai Government in the past. What should be the agenda of LDC governments on the level of policy making and implementation, to increase the export trade volume?<br />
	<br />
	</strong></span></div>
<div style="text-align: justify;">
	<span style="font-size:12px;">The LDCs will have to invest in capacity to produce, to begin with. For example, if you have some food products, you may need to process food products as well in order to add value. Similarly, if you have some minerals, then you should think of investing in the processing of minerals. In Thailand we invested in canning of tuna fish which has been doing exceedingly well. We used to produce automobile spare parts to begin with but gradually we started producing automobiles on our own. So, you have to start from somewhere and try to move up the ladder all the time. I would recommend that LDCs having niche in certain areas have to keep adding value. Importance of technology is one lesson we have learnt in Thailand. Innovation and technology depends on the quality of education. Education must be guided in a way that would promote research. In Thailand, university professors and academics are encouraged to conduct more research and innovate. Foreign companies are also being attracted to the country to learn technology from. </span></div>
<div style="text-align: justify;">
	<span style="font-size:12px;"><br />
	<br />
	</span></div>
<div style="text-align: justify;">
	<span style="font-size:12px;"><strong>LDCS are largely dependent on donors and face heavy foreign debt. They also lack fundamental base of stable politics and proper policy implementation. Amid such complexities, how can countries move on the right path of development and poverty reduction?<br />
	<br />
	</strong></span></div>
<div style="text-align: justify;">
	<span style="font-size:12px;">Well, I think these are more controversial issues than the development policies. You must have growth to be able to have social investment and welfare but, of course, a loan is not enough. In order to transfer growth into social development, you probably need a policy on socio protection and inclusive development. It means that you would have to try to spread growth throughout the country. You need growth to be well distributed and not concentrated in certain areas only. It means decentralisation. You need to decentralise the authorities of the government and the investment activities. Investment has to be made into rural network of roads and means of transportation. Both skilled and unskilled people need help as well. If you look at the informal sector particularly, there are a lot of people being underpaid. You have to be able to initiate social programmes that would help guarantee employment. The employment guarantee programme in India could be one shining example. I feel that such programmes help support rural families. I also like the Bolsa Familia programme in Brazil where government financial support is given to families on condition that children must attend school until secondary education. These are some of the obvious measures that are needed to produce the impact from economic growth for social welfare. </span></div>
<div style="text-align: justify;">
	<span style="font-size:12px;"><br />
	<br />
	</span></div>
<div style="text-align: justify;">
	<span style="font-size:12px;"><strong><img align="right" alt="reduction" border="1" height="214" hspace="5" src="http://newbusinessage.com/ckfinder/userfiles/Images/interview(1).jpg" style="width: 171px; height: 214px;margin:10px;padding:10px;" vspace="5" width="171" />What should be the role of the development partners in addressing the issues of development and poverty reduction in the LDCs?<br />
	<br />
	</strong></span></div>
<div style="text-align: justify;">
	<span style="font-size:12px;">Development partners normally provide financial means. They have a target to meet - a contribution of 0.15 to 0.2 per cent of the GNP - which has to be given to the LDCs. However, they are giving only 0.09 per cent which is too low. I think the target should be met. The development partners should work on transfer of technology. This is not in financial terms but in terms of intellectual property rights. There should be some sort of open software system that can be accessed by the LDCs so that proprietorship could be opened up for people to search. I would say, in the trade areas as per the Doha agenda, they can give concessions to the LDCs as an early harvest. They don't need to wait until the end of the round to give concessions in the form of duty- and quota-free concessions for trade facilitation and in the areas of outsourcing of services. These are some of the areas which, I believe, could be done in terms of green economy. I also expect the green fund for the LDCs or the green development mechanism to be established. Some of these arrangements would pay special attention to the roles of the LDCs and they should be granted special assistance in these funding ranges. </span></div>
<div style="text-align: justify;">
	<span style="font-size:12px;"><br />
	<br />
	</span></div>
<div style="text-align: justify;">
	<span style="font-size:12px;"><strong>How do you view the current debate on aid for trade?<br />
	<br />
	</strong></span></div>
<div style="text-align: justify;">
	<span style="font-size:12px;">Aid for trade is a good programme to mainstream trade into development. For us at UNCTAD, aid for trade means aid for trade for development. So, trade should be harnessed for serving this purpose. We have been talking about the need for more productive investment and investment in trade infrastructure, development training of skill negotiators, the need to setup the right commercial institutions and the right legal framework. You must have the legal people who understand the Trade-Related Aspects of Intellectual Property Rights (TRIPS) issues. You may also need to have the IT court. The aid for trade should also help in the areas of providing capacity to accomplish more work in environment and trade. UNCTAD believes the new areas of green economy would provide for opportunities to invest in renewable and energy products. I think â€˜aid for trade can help pave the way to support transfer of technology and training of scientists and engineers. This would also help in bringing the LDCs to new rounds of opportunities courtesy the green economy.</span></div>
<div style="text-align: justify;">
	<span style="font-size:12px;"><br />
	<br />
	</span></div>
<div style="text-align: justify;">
	<span style="font-size:12px;"><strong>In poor countries, the governments try to tread a middle path between the models of controlled economy and free economy. How do you evaluate Nepal's trade and more specifically, its economic policy?<br />
	<br />
	</strong></span></div>
<div style="text-align: justify;">
	<span style="font-size:12px;">To be fair to the government in Nepal, I am not qualified enough to emphasise on what Nepali economy should be doing. But I do see the role of the government being evolved here. I hope it will evolve in a way where there won't be too many controls. It is important for the Nepali government to be balanced in its role along with its evolving policies. The direction we would like to advise is to go into what we call development governance. This will help policies being directed at getting the development strategy right. The government should not look at market reform, competition and pricing policy only. It must have the market work so as to attract new projects that would create employment. Productive investment should be encouraged. Nepal needs a monetary policy that would mobilise more funds and keep interest rates not too high. It would mean the fiscal policy will have to be directed at needs to create the perfect infrastructure. It will also mean that the exchange rate policy needs to be flexible. And you have to have the exchange rate at a level that will be stable and will help make your products competitive.</span></div>
<div style="text-align: justify;">
	<span style="font-size:12px;"><br />
	<br />
	</span></div>
<div style="text-align: justify;">
	<span style="font-size:12px;"><strong>Questions are often raised in poor countries about the value and benefit of being WTO members. Anti-WTO activists accuse that WTO policies are pro-rich and poor countries simply can't afford to abide by WTO policies. What do you have to say?<br />
	<br />
	</strong></span></div>
<div style="text-align: justify;">
	<span style="font-size:12px;">Well, being a WTO member is not enough. It won't help a country if it doesn't work on it to make itself strong in competition. So, being a WTO member is like being presented with opportunities to take advantage of the markets around the world. Taking advantage from the market depends on domestic policies. The domestic policies must drive forward to do more work in the areas of trade infrastructure, business improvement, skills training, development of science of the exported products and standard of products that would meet international standards. The technical barriers to trade and technical standards of manufactured products are also important. You also need the right laws to take benefits from the membership of the WTO. Being the member of the WTO is not a free ride, for sure.</span></div>
<div style="text-align: justify;">
	<span style="font-size:12px;"><br />
	<br />
	</span></div>
<div style="text-align: justify;">
	<span style="font-size:12px;"><strong>What's the equation between UNCTAD and WTO in terms of policies?<br />
	<br />
	</strong></span></div>
<div style="text-align: justify;">
	<span style="font-size:12px;">UNCTAD and WTO follow similar policies and support and complement each other. For instance, UNCTAD has been doing a lot of work in the area of capacity building while WTO is doing the same in the area of trade. We support the WTO in areas of trade facilitation and negotiation and trade and environment negotiation. We do the work on investment policies that WTO cannot do due to the lack of investment agreement at WTO. Being the focal point for investment policy for the UN system, we have been giving advice on investment policies to developing countries around the world. We advise them on investment agreement, investment promotion, policies etc. So, this actually complements WTO on what it cannot do. Also in the area of competition laws and consumer protection which WTO could not agree, we are providing assistance for countries to establish competition laws and consumer protection. Therefore, I think we do play a complementary role. The pace of trade liberalisation might have been a little too fast for developing countries. They may have not been able to reap benefits because they were not well prepared. The WTO also agrees now that in order to garner benefits from trade liberalisation, well preparedness and trade mainstreaming into the development process are essential. </span></div>
<div style="text-align: justify;">
	<span style="font-size:12px;"><br />
	<br />
	</span></div>
<div style="text-align: justify;">
	<span style="font-size:12px;"><strong>How would you like Nepal to take advantage from huge and growing markets on both sides of its borders?<br />
	<br />
	</strong></span></div>
<div style="text-align: justify;">
	<span style="font-size:12px;">Asia is now the growth port of the world. This is an area where growth is maintained at a very high level and quite stably. I think Nepal is situated in the right place with major countries surrounding it like India and China and South East Asia within close proximity. There should be a definite government policy to direct trade cooperation with all these countries. Such endeavours are supported by Asian Development Bank also. Cooperation is not always easy among neighbouring countries. However, you must concentrate on joint projects like transportation or regional projects taking part in joint programmes like tourism promotion etc. I think you should make use of having a deeper integration with South East Asian and North Asian countries in the region besides China and India. </span></div>
<div style="text-align: justify;">
	<span style="font-size:12px;"><br />
	<br />
	</span></div>
<div style="text-align: justify;">
	<span style="font-size:12px;"><strong>Will it be sustainable for LDCs to look for export trade only?<br />
	<br />
	</strong></span></div>
<div style="text-align: justify;">
	<span style="font-size:12px;">No. Sustainability is more than just export trade. It means you must have social equality, look after ecology and environment and invest in forestation to keep forests alive and growing. You have to invest in water management and human resources that will make for sustainable development. Therefore, it's not only export trade that would drive you. You must have a combination of inclusive policies that would shape the benefits of growth and trade equally. </span></div>
<div style="text-align: justify;">
	<span style="font-size:12px;"><br />
	<br />
	</span></div>',
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	<span style="color: rgb(255, 140, 0);"><i><span style="font-size: 8pt; line-height: 120%;"><img align="left" alt="madan" border="2" height="146" hspace="2" src="http://newbusinessage.com/ckfinder/userfiles/Images/img(4).jpg" style="width: 121px; height: 146px;margin:10px;padding:10px;" vspace="1" width="121" />By Madan Lamsal<br />
	<br />
	<br />
	</span></i></span></div>
<div style="margin-bottom: 0.0001pt; text-align: justify; vertical-align: middle;">
	<span style="font-size: 14px;">T</span><span style="font-size: 9.5pt;">he FNCCI has elected a new President. The election this time was quite historic as it was fought not only in democratic spirit but it had all killing spirits between the contesting panels. It took many years to achieve this grandeur of fighting spirit that got literally demonstrated beyond ballot. It was but natural for the FNCCI electorates to be inspired by the fights surrounding all around them.<br />
	<br />
	<br />
	</span></div>
<div style="margin-bottom: 0.0001pt; text-align: justify; text-indent: 14.15pt; line-height: 11pt; vertical-align: middle;">
	<span style="font-size: 9.5pt;">The political leaders of the same party and those supposedly following the same principle, if any they have, are fighting cats and dogs. The trade unions are not only fighting with their employers but also between the factions in themselves. A few revolutionary parties have also waged a diplomatic war throwing shoes and pelting stones to some foreign diplomats. Some horrible, oooch! honourable Members of the revered Constituent Assembly(CA) who tried to write constitutional provisions in Red Passports are now fighting legal battles. All apart, the largest party in the CA is more inclined to fight than to write the constitution. To cut it short, there is fight in every spectrum of national life and how can one expect only the business community not to breathe the air from national atmosphere and remain shy of fighting.<br />
	<br />
	<br />
	</span></div>
<div style="margin-bottom: 0.0001pt; text-align: justify; text-indent: 14.15pt; line-height: 11pt; vertical-align: middle;">
	 </div>
<div style="margin-bottom: 0.0001pt; text-align: justify; text-indent: 14.15pt; line-height: 11pt; vertical-align: middle;">
	<span style="font-size: 9.5pt;"><img align="left" alt="nolaughingmatter" border="1" height="267" hspace="5" src="http://newbusinessage.com/ckfinder/userfiles/Images/no laugh(2).jpg" style="width: 292px; height: 267px;margin:10px;padding:10px;" vspace="5" width="292" />In fact, the body fight was the only thing left to make the FNCCI an institution compatible to our true national character. Everybody else in the society raised their fists and waved their legs to kick somebody from home or office but not the chamber members. This was the only gap left in the respectable members of apex chamber of the country to qualify as the national heroes. Now the brave brothers of business fraternity have done the job professionally making everybody feel proud about it. Thus it has been established now that private sectorsâ€™ leaders are not differently able or mentally retarded but physically capable and mentally sharp. Not to mention a special ability of the business community to be absolutely spendthrift when chips are actually down. This election was the latest testimony to it.&nbsp;To remind, there was a fight to finish spirit in the money game as well.</span></div>
<div style="margin-bottom: 0.0001pt; text-align: justify; text-indent: 14.15pt; line-height: 11pt; vertical-align: middle;">
	<br />
	<br />
	 </div>
<div style="margin-bottom: 0.0001pt; text-align: justify; text-indent: 14.15pt; line-height: 11pt; vertical-align: middle;">
	<span style="font-size: 9.5pt;">&nbsp;The exposition of this purely new quality amongst the business leaders, the true spirit of fighting among others, now ensures high pace of economic growth and prosperity of the nation. The country had remained poor so long only because our business community loathed the fight. Now they are on board and hopes for economic revolution are as high as ever before. Let's take a cue ! The political revolution was possible due to the fact that the politicians always fought like dogs among themselves. If Nepal wants economic revolution as well then the businessmen should also fight like the politicians. Apparently, now on, the Nepali business community will continue to learn from Nepali politics.</span></div>
<div style="margin-bottom: 0.0001pt; text-align: justify; text-indent: 14.15pt; line-height: 11pt; vertical-align: middle;">
	<br />
	<br />
	 </div>
<div>
	<span style="font-size: 9.5pt; line-height: 115%;">The revival of the fighting spirit and money mixing in ballots are indeed great achievements in this direction. Now, the fighting spirit, like in politics, should be able to kill all other spirits like democratic, nationalistic or ethical spirits to name a few. This only will make FNCCI an institution of repute and dignity that suits to twenty-first century national umbrella chamber.<br />
	<br />
	<br />
	</span></div>',
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			'created' => '2011-05-31',
			'modified' => '2012-09-16',
			'keywords' => '',
			'description' => 'The FNCCI has elected a new President. The election this time was quite historic as it was fought not only in democratic spirit but it had all killing spirits between the contesting panels.',
			'sortorder' => '222',
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	(int) 9 => array(
		'Article' => array(
			'id' => '295',
			'article_category_id' => '52',
			'title' => 'The White Paper Hoax',
			'sub_title' => '',
			'summary' => null,
			'content' => '<div style="text-indent: 0in; text-align: justify;">
	<span style="font-size: 16px;"><img align="left" alt="fromtheeditor" border="1" height="279" hspace="10" src="http://newbusinessage.com/ckfinder/userfiles/Images/img(3).jpg" style="width: 214px; height: 279px;margin:10px;padding:10px;" vspace="10" width="214" />A</span>fter failing to bring in a supplementary budget as planned, the lame-duck Jhala Nath Khanal government on 12th April issued a so called White Paper, primarily to placate the senior partner in the coalition government the UCPN - Maoists. At the first place, the issuance of such policy paper was an untimely and unnecessary exercise. Only a few days earlier Deputy Prime Minister Bharat Mohan Adhikari had announced an energy crisis management plan in the legislature parliament. If anything the government had to add on, that could have been incorporated in that speech. But, Adhikari chose to organise a separate media event in his own ministry to elaborate the priorities of the government through this White Paper.</div>
<div style="text-indent: 0in; text-align: justify;">
	<br />
	 </div>
<div style="text-align: justify;">
	<span style="letter-spacing: 0.1pt;">Effectively, the paper hardly contained anything new, thus defeating the very purpose of it. Like the earlier government, Adhikari also emphasised on sticking to the so called&nbsp;three pillar private, co-operatives and public pillars concept of the economy, which for all practical purposes is nothing more than verbose. In essence, cooperative is a private sector exercise. And public sector participating with other sectors private or cooperatives is an absolute anti-thesis to economic progress. The state must not be a partnerâ to a party who does the business. Therefore, re-emphasising on this obsolete platitude of partnership is absolute nonsense. </span></div>
<div style="text-align: justify;">
	<br />
	 </div>
<div style="text-align: justify;">
	Second, the very intent was redoubtable and the procedures adopted were questionable. The hidden agenda of the White Paper was to ignite pork barrel spending in non-productive, politically designed programmes. Such an act was propelled by the Maoists wishful plan that&nbsp;the nearly Rs 22 billion remained idle in the government coffers could be used in the party's pet programmes.</div>
<div style="text-align: justify;">
	<br />
	 </div>
<div style="text-align: justify;">
	As regards procedures, any new government surely has moral rights to outline its policies and programmes. But, by norm either it should come as the policy speech of the new prime minister, or the government could table it in the parliament. But a deputy prime minister organising a press meet in his ministry to make the White Paper public barely matched the gravity it warranted.</div>
<div style="text-align: justify;">
	<br />
	 </div>
<div style="text-align: justify;">
	<span style="letter-spacing: -0.1pt;">The White Paper has artlessly copied several ear-friendly programmes like helping in commercialisation of the agriculture and boosting the private sector business initiatives. But the promises this paper made could be translated into actions only when the parties in the government&nbsp; the Maoists and the UML, first agree to tame their own trade unions. Interestingly, this White Paper hardly talks about the steps to address the present industrial anarchy due to irresponsible behaviour particularly of the ruling party-affiliated unions.</span></div>
<div style="text-align: justify;">
	<br />
	 </div>
<div style="text-align: justify;">
	<span style="letter-spacing: -0.1pt;">Also, it is a great irony that the White Paper instead of serving the government's intended purpose just exposed the ulterior motives of PM Khanal and his affiliates. For the economy, it simply could not leave a mark, let alone contribute positively, as it had no teeth and breath. Going deeper into Deputy PM Adhikariâ's intentions, he so deliberately skipped some of the hottest issues of the economy that needed immediate attention.</span></div>
<div style="text-align: justify;">
	<br />
	 </div>
<div style="text-align: justify;">
	Adhikari very tactfully avoided making any commitment to take action against the businesses involved in forging VAT bills. Similarly, the White Paper did not have any unequivocal position to continue to adopt a free market economy and the government limiting its role not as the market participant but just an honest referee of the game.<br />
	<br />
	 </div>',
			'published' => true,
			'created' => '2011-05-31',
			'modified' => '2012-08-28',
			'keywords' => '',
			'description' => 'After failing to bring in a supplementary budget as planned, the lame-duck Jhala Nath Khanal government on 12th April issued a so called White Paper.....',
			'sortorder' => '221',
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	(int) 10 => array(
		'Article' => array(
			'id' => '294',
			'article_category_id' => '34',
			'title' => 'Manufacturing Production Index Increases',
			'sub_title' => '',
			'summary' => null,
			'content' => '<div style="text-align: justify;">
	Manufacturing Production Index in the first quarter of the current fiscal year increased by 1.23 per cent compared to the same period previous fiscal year, according to the data released recently by the Central Bureau of Statistics (CBS).<br />
	Â </div>
<div style="text-align: justify;">
	In the same period, the Manufacturing Producersâ€™ Price Index increased 8.11 per cent, show the CBS data.<br />
	Â </div>
<div style="text-align: justify;">
	The highest increase in the production was in aluminium products (42 per cent) followed by rectified liquor and garment both of which increased over 34 per cent. The largest decline was in paper (other than newsprint) which registered a whopping reduction of ovr 64 per cent. That was followed by biscuits which declined over 51 percent. Among the other decliners were beer (17 per cent), soft drinks (26 per cent), sawn wood (24 per cent) and wire and cable (16 per cent).<br />
	<br />
	Â </div>
<div style="text-align: justify;">
	Among the goods in which the price increased, the highest was in the sawn wood (132 per cent) followed by lube oil (78 per cent),&nbsp;ply wood (73 per cent) and paper excluding newsprint (72 per cent).<br />
	Â </div>
<p style="text-align: justify;">
	Among the goods in which the producersâ€™ price decreased include iron rod and billets and plastic products (21 per cent) and soap and carton boxes (26 per cent each). </p>',
			'published' => true,
			'created' => '2011-04-28',
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			'keywords' => '',
			'description' => 'Manufacturing Production Index in the first quarter of the current fiscal year increased by 1.23 per cent compared to the same period previous fiscal year, according to the data released recently by the Central Bureau of Statistics (CBS).',
			'sortorder' => '220',
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		'Article' => array(
			'id' => '293',
			'article_category_id' => '34',
			'title' => 'Rs 1.5 Billion ADB Aid In Agriculture',
			'sub_title' => '',
			'summary' => null,
			'content' => '<div style="text-align: justify;">
	<img align="left" alt="" border="2" hspace="2" src="http://newbusinessage.com/ckfinder/userfiles/Images/img3.jpg" vspace="2" />Asian Development Bank (ADB) has signed an agreement with Nepal government to provide an assistance of Rs 1.447 billion to help small and medium sized farmers to enhance cash crops production under value chain concept.</div>
<p style="text-align: justify;">
	The project covers 10 districts in mid western and far western regions targeting to provide benefit to 18,700 households. The project targets to help farming in 7,500 hectares of land and produce 65,500 metric tonnes of products that is expected to be valued at US$ 301 million, according to the ADB. The project is expected to increase the income levels of the women.</p>',
			'published' => true,
			'created' => '2011-04-28',
			'modified' => '0000-00-00',
			'keywords' => '',
			'description' => 'Asian Development Bank (ADB) has signed an agreement with Nepal government to provide an assistance of Rs 1.447 billion to help small and medium sized farmers to enhance cash crops production under value chain concept.',
			'sortorder' => '219',
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		'Article' => array(
			'id' => '292',
			'article_category_id' => '34',
			'title' => 'Digitised E-posters For Advertising',
			'sub_title' => '',
			'summary' => null,
			'content' => '<div style="text-align: justify;">
	<img align="left" alt="" border="2" hspace="2" src="http://newbusinessage.com/ckfinder/userfiles/Images/img2.jpg" style="width: 320px; height: 202px;" vspace="2" />Media Space Solution Pvt Ltd has begun using digitised e-posters as a new advertising medium. G P Adhikari, the Executive Director of the company said at its official announcement function that advertising through such technology is easy and affordable. He informed that the technology is called electronic point of purchase media (E-POM).</div>
<p style="text-align: justify;">
	According to the company, this service has started from Bhatbhateni Supermarket in Kathmandu. Four 46 inches and two 32 inches display screens have been installed at the supermarket. Currently, there are 30 different advertisements being played on the e-posters. The screens are manufactured by Viewsonic, an American company. The advertisement on these e-posters can be played through pen drives too. </p>',
			'published' => true,
			'created' => '2011-04-28',
			'modified' => '0000-00-00',
			'keywords' => '',
			'description' => 'Media Space Solution Pvt Ltd has begun using digitised e-posters as a new advertising medium. G P Adhikari, the Executive Director of the company said at its official announcement function that advertising through such technology is easy and affordable.',
			'sortorder' => '218',
			'image' => null,
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		'Article' => array(
			'id' => '291',
			'article_category_id' => '34',
			'title' => 'Carpet Export Increases Despite Production Problems',
			'sub_title' => '',
			'summary' => null,
			'content' => '<div style="text-align: justify;">
	The export of woollen carpet increased&nbsp;16.5 per cent in the first six months of the current fiscal year compared to the same period of the last year indicating rvivial in the industry.<br />
	Â </div>
<div style="text-align: justify;">
	According to the Trade and Export Promotion Centre, 423,481 square metres of carpet worth Rs 2.37 billion was exported to different countries in the six months that ended on mid-January 2011. During the same period last year, the value of carpet export was Rs 2.03 billion.<br />
	Â </div>
<div style="text-align: justify;">
	Anup Bahadur Malla, the promoter of Kangri Carpet said the demand for Nepali carpet is growing in the international market. â€œWe have not been able to supply enough to meet the growing demand,â€ he added. He revealed that though the market is growing, the industries in Nepal have failed to respond accordingly due to the power crisis and labour problems.<br />
	Â </div>
<div style="text-align: justify;">
	â€œThough we have demand, there are no skilled labours to produce carpet,â€ he lamented. He added that the price of Nepali carpets have not increased despite the rise in demand. Nepali carpets compete with the Indian carpets which are 40 per cent cheaper. But Malla claimed that the quality of Nepali carpet is much better.<br />
	Â </div>
<p style="text-align: justify;">
	Surendra Dhakal, the Advisor of the Carpet Exporterâ€™s Association has however cautioned that though the export had increased in the first six months it has started declining after December. </p>
<p>
	Â </p>',
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			'description' => 'The export of woollen carpet increased 16.5 per cent in the first six months of the current fiscal year compared to the same period of the last year indicating rvivial in the industry.',
			'sortorder' => '217',
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		'Article' => array(
			'id' => '290',
			'article_category_id' => '34',
			'title' => 'Banks Register Increase In Returns And Capital Fund',
			'sub_title' => '',
			'summary' => null,
			'content' => '<div style="text-align: justify;">
	Commercial banksâ€™ average return has increased by 2 per cent over the last one year. This is shown by the unaudited report of 30 banks for the second quarter of the current fiscal year.<br />
	Â </div>
<div style="text-align: justify;">
	Average return of the banks in second quarter of the last year was 9.46 per cent while this year, it is 11.44 per cent. Shovan Dev Panta, the CEO of Lumbini Bank said the average return increased as there was progress in the repayment of bad loans. â€œHowever with the increase in cost of fund, the returns have not increased as expected,â€ he added. Cost of fund that was 5.43 per cent in the second quarter last year has increased to 7.86 per cent in the same period this year.<br />
	Â </div>
<div style="text-align: justify;">
	Maheswor Lal Shrestha, the Management Coordinator of Nepal Bank Limited said it is positive to have increasing returns for banks in the current difficult situation. â€œBut along with the return, cost of fund has also increased which is not a good sign,â€ he said. He cites the increase in interest rate for deposits as the main reason behind the rise in cost of fund. â€œThis would also increase the rate of interest in loans which will eventually affect investment and consumption,â€ he explained.<br />
	Â </div>
<p style="text-align: justify;">
	According to the report, all banksâ€™ average returns have increased. Compared to the second quarter of last fiscal year, bankâ€™s capital adequacy has increased to 15.7 per cent of the risk-weighted assets.&nbsp;This was 10.4 per cent in the same period last year.</p>',
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			'description' => 'Commercial banksâ€™ average return has increased by 2 per cent over the last one year. This is shown by the unaudited report of 30 banks for the second quarter of the current fiscal year.',
			'sortorder' => '216',
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			'id' => '306',
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			'title' => 'Are You Backed By SAP?',
			'sub_title' => '',
			'summary' => null,
			'content' => '<div style="margin-bottom: 0.0001pt; vertical-align: middle; text-align: justify;">
	<span style="font-size: 14.5pt;"><img align="left" alt="" border="1" height="225" hspace="10" src="http://newbusinessage.com/ckfinder/userfiles/Images/imm.jpg" style="width: 349px; height: 225px;margin:10px;padding:10px;" vspace="10" width="349" />S</span><span style="font-size: 9.5pt;">AP is an acronym for Systems, Applications and Products in data processing; and today, it is the world's largest business software company which delivers products and services that help to speed up business innovation for customers. When it comes to operating with the ultimate idea of uninterrupted and ever increasing performance in business, SAP is the perfect solution. </span></div>
<div style="margin-bottom: 0.0001pt; text-indent: 14.15pt; line-height: 11pt; vertical-align: middle; text-align: justify;">
	<br />
	<span style="font-size: 9.5pt;">SAP provides a single, integrated technology platform that supports industry-specific business processes through optional enhancement packages that enables to build on progress, without causing business disruptions. </span></div>
<div style="margin-bottom: 0.0001pt; text-indent: 14.15pt; line-height: 11pt; vertical-align: middle; text-align: justify;">
	<br />
	<span style="font-size: 9.5pt;">SAP solutions are efficient and this can be largely credited to SAP's impeccable architecture. It is built on state-of-the-art computing technologies based on the Business Framework architecture which is capable of processing huge volumes of information and supporting rapid decision-making. </span></div>
<div style="margin-bottom: 0.0001pt; text-indent: 14.15pt; line-height: 11pt; vertical-align: middle; text-align: justify;">
	<br />
	<br />
	<span style="font-size: 9.5pt;">There are a few things that distinctly mark SAP apart from other solutions in the market. The foremost is their service-oriented architecture (SOA) which speeds and simplifies the integration of SAP and non-SAP solutions. Therefore, SAP's implementation offers high levels of data integration as it ensures synchronisation of information between SAP and the underlying business execution systems. This open connectivity actually allows business components to interact with several business systems. </span></div>
<div style="margin-bottom: 0.0001pt; text-indent: 14.15pt; line-height: 11pt; vertical-align: middle; text-align: justify;">
	<br />
	<span style="font-size: 9.5pt;">Needless to say, with SAP, a company can gain meaningful, industry-specific, role-based insight into the business performance.</span><span style="font-size: 9.5pt;">Understanding its functionality requires recognising the working of its components. Building on existing SAP R/3 functionality, SAP includes functionality for advanced Business Consolidation and Business Information Collection, which links internal information with automated collection of relevant external information through the Internet. SAP also supports advanced Business Planning and Simulation, based on both internal and external information - allowing you to model risks and rewards, and more effectively manage future uncertainties. </span></div>
<div style="margin-bottom: 0.0001pt; text-indent: 14.15pt; line-height: 11pt; vertical-align: middle; text-align: justify;">
	<br />
	<span style="font-size: 9.5pt;">Furthermore, once you resort to SAP solutions, the Corporate Performance Monitor including the Management Cockpit is enhanced with industry-specific Key Performance Indicators (KPI) templates on the one hand while on the other, the Stakeholder Relationship Management component facilitates communication with investors and other important stakeholder groups. </span></div>
<div style="margin-bottom: 0.0001pt; text-indent: 14.15pt; line-height: 11pt; vertical-align: middle; text-align: justify;">
	<br />
	<span style="font-size: 9.5pt;">SAP unequivocally meets all your company's requirements and addresses all its prominent concerns.The implementation of SAP Enterprise Resource Planning (ERP) can lead to many benefits. Some evident gains are stated as follows:</span></div>
<div style="margin-bottom: 0.0001pt; text-indent: 14.15pt; line-height: 11pt; vertical-align: middle; text-align: justify;">
	<br />
	<span style="font-size: 9.5pt;">With SAP solutions, your enterprise shall run in accordance with strategy and plans, accessing the right information in real time to identify concerns early. SAP improves operational efficiency and productivity within and beyond your enterprise thus extending transactions, information, and collaboration functions to a broader business community.</span></div>
<div style="margin-bottom: 0.0001pt; text-indent: 14.15pt; line-height: 11pt; vertical-align: middle; text-align: justify;">
	<br />
	<span style="font-size: 9.5pt;">SAP helps you eliminate high integration costs and the need to purchase third-party software. It helps you leverage preset defaults and pre-packaged versions available for specific industries. It also links employees performance to compensation programmes such as variable pay plans and long-term incentives; and at the same time gives employees new ways to access the enterprise information required for their daily activities. </span></div>
<div style="margin-bottom: 0.0001pt; text-indent: 14.15pt; line-height: 11pt; vertical-align: middle; text-align: justify;">
	<br />
	<span style="font-size: 9.5pt;">To meet the business needs of the 21st century, every aspiring company needs the element that pulls it together and integrates it in such a proficient way that it is able to foresee all opportunities and identify every minuscule of apprehension to make proactive decisions. To ensure solid productivity in today's competitive market, every company needs to be in a position from where it can make the optimum use of all its existing resources. <br />
	<br />
	</span></div>
<div style="text-align: justify;">
	<span style="font-size: 9.5pt; line-height: 115%;">Using SAP means; being in a position to exactly do that. In brief terminologies, it means increasing profitability, improving financial control and reducing risks; thereby putting your company in the centre stage of a high yielding market.<br />
	<br />
	<br />
	</span></div>',
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			'description' => 'SAP is an acronym for Systems, Applications and Products in data processing; and today, it is the world's largest business software company which delivers products and services that help to speed up business innovation for customers.',
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	(int) 1 => array(
		'Article' => array(
			'id' => '305',
			'article_category_id' => '37',
			'title' => 'Poverty, Inequality And Growth-some Lessons',
			'sub_title' => '',
			'summary' => null,
			'content' => '<div style="margin-bottom: 0.0001pt; line-height: 120%; vertical-align: middle;">
	<span style="font-size:12px;"><i><span style="line-height: 120%;"><img align="left" alt="economy" border="1" height="129" hspace="5" src="http://newbusinessage.com/ckfinder/userfiles/Images/kamal raj.jpg" style="margin:10px;padding:10px;" vspace="5" width="100" />By Dr Kamal Raj Dhungel<br />
	<br />
	</span></i></span></div>
<div style="margin-bottom: 0.0001pt; text-align: justify; line-height: 11pt; vertical-align: middle;">
	<span style="font-size:12px;">The liberalisation policy in china is in effect since the end of 1970s. India has followed the same path since the beginning of 1990s. This resulted in tremendous progress, sustained growth and increased wealth in both China and India. Both the countries were characterised by mass poverty before the period of economic reform.&nbsp;Today, China has reduced the number of people under poverty to mere 2.8 per cent down from 64 per cent in 1981. Similar is the case of India. According to the government estimate, approximately 28 per cent of population is living below the poverty line down from 51 per cent in 1977/78. It reveals that people have tasted the fruits of economic progress resulting from economic reforms.&nbsp;</span></div>
<div style="margin-bottom: 0.0001pt; text-align: justify; line-height: 11pt; vertical-align: middle;">
	<span style="font-size:12px;"><br />
	<br />
	</span></div>
<div style="margin-bottom: 0.0001pt; text-align: justify; text-indent: 14.15pt; line-height: 11pt; vertical-align: middle;">
	<span style="font-size:12px;">Let's now look at the context of poverty reduction in China and India. The liberalisation of their economies have instigated tremendous progress, sustained growth and increased wealth with rapid industrialisation. They are achieving high economic growth rate above 9 per cent per annum. It has produced multiplier effect in their economies. They are investing their resources in the construction of infrastructure and establishment and promotion of basic industries. The private sector investment has been mushrooming. This has created sufficient employment opportunities within the country to the increased size of labour force. This provides opportunities to the poor people to improve their living condition and hence both countries have met the goal of poverty reduction in the same momentum though the degree and extent of it is different. Income, health and education of the people are gradually improving which results in the improvement of the human development index. Nepal's estimated incidence of poverty is at 30.9 per cent today down from 45 per cent in the mid 1990s. In terms of poverty reduction, al the three countries under consideration have the same trend over the same period of time. China and India have adequate reason to explain how poverty there has come down as they are achieving rapid economic growth rate.&nbsp;But in Nepal poverty has surprisingly come down when its economic growth rate is deteriorating. This makes the people doubt at the authenticity of the poverty reduction data. </span></div>
<div style="margin-bottom: 0.0001pt; text-align: justify; text-indent: 14.15pt; line-height: 11pt; vertical-align: middle;">
	<span style="font-size:12px;"><br />
	<br />
	</span></div>
<div style="margin-bottom: 0.0001pt; text-align: justify; text-indent: 14.15pt; line-height: 11pt; vertical-align: middle;">
	<span style="font-size:12px;">Nepal also has the same story of economic liberalisaiton but with different outcomes. Policy of liberalisation has been initiated since the middle of 1980s albeit it has been gaining momentum only after 1990. As an effect of this policy, a large number of public enterprises were dismantled in the name of privatisation. They had produced basic goods like shoes, sugar, agricultural tools, clothes and paper etc. In the past, these industries made a significant contribution in the economy in terms of consumption, income and employment. But today they have vanished. It means those industries whose management had been transferred to the private sector are not in operation currently.&nbsp;The demand of the goods produced by these industries is being fulfilled by imports. The numbers of persons employed in these industries have become unemployed.&nbsp;Some of them have either migrated to foreign countries in search of employment. Others have remained unemployed. There is no doubt that liberalisation can play an important role in economic development. It can attract, promote and encourage private sector investment, both foreign and domestic in the development of overall economy, particularly in the manufacturing sector.&nbsp;But the manner in which Nepal has been exercising economic policy reform seems clearly unsustainable and making gloomy environment for private investment.&nbsp;Instead, it encourages opening up a large number of cosy dance restaurants in different urban centres of Nepal through private sector investment.&nbsp;Similar is the case of investment of private sector in education and health as private schools, colleges and nursing homes including private hospitals are mushrooming. They provide service only to a small fraction of population who are wealthier.&nbsp;It creates discrimination among the citizens in terms of social service. Clearly, the nation has been producing two categories of future manpower: a superior workforce which graduates from private schools and an inferior one that graduates from public schools. Majority of students who graduate from private schools are migrating to developed countries. </span></div>
<div style="margin-bottom: 0.0001pt; text-align: justify; text-indent: 14.15pt; line-height: 11pt; vertical-align: middle;">
	<span style="font-size:12px;"><br />
	<br />
	</span></div>
<div style="margin-bottom: 0.0001pt; text-align: justify; text-indent: 14.15pt; line-height: 11pt; vertical-align: middle;">
	<span style="font-size:12px;"><img align="left" alt="Real GDP growth rate during 2006-10" border="1" height="197" hspace="5" src="http://newbusinessage.com/ckfinder/userfiles/Images/groth rate.jpg" style="width: 318px; height: 197px;margin:10px;padding:10px;" vspace="5" width="318" />The failure of economic policy particularly after 1990 is reflected in the overall progress of the Nepali economy. In the initial stages of liberalisation, the growth rate of Nepali economy was encouraging to some extent. But it became disappointing gradually. The trend of Nepal's economic growth rate is not only disappointing but also humiliating (see chart ). The fruit of this growth did not reach people who were the main pillars in restoring democracy in 1990 and beyond. It means the distribution of national income among its citizens has been skewed.&nbsp;Since the decade of 1990s, corruption has become rampant. Anti-corruption mechanisms have been made ineffective. The living standard of the richest 10 per cent has been increasing over the years while that of the rest is deteriorating.<br />
	<br />
	<br />
	</span></div>
<div style="margin-bottom: 0.0001pt; text-align: justify; text-indent: 14.15pt; line-height: 11pt; vertical-align: middle;">
	<span style="font-size:12px;">&nbsp;The present economic growth rate, as seen in the chart, is declining over the years. It is barely enough to feed the population which is growing at the rate of 2.24 per cent per year. For the mass of people, hunger is routine, malnutrition rife, employment insecure, social security non-existent, health care expensive and livelihoods under threat. Youths are migrating to foreign countries and are supposed to send remittance by putting their lives at risk. As expected, remittance plays a vital role in providing livelihood to the people of Nepal. This is also giving an opportunity to the elite of Nepal to set up large number of banking businesses. But its contribution to economic growth seems insignificant. Today, Nepali people are experiencing banking business next door to their residence.&nbsp;It indicates that the growth of monetary sector (particularly of the institutions dealing with money) in recent years have been increasing while the growth rate of real sector is declining.&nbsp;It seems there is a weak association between the growth of monetary and real sectors. Practically speaking, for a healthy and balanced economic development, there should be a strong correlation between them. In addition, private sector investment has been growing in the construction of large apartments and residential buildings and opening up of departmental stores. This provides a major market for investment by the banks. This shows that the current trend of economic activities in which the investments are pouring is not sustainable.&nbsp;These activities would sustain for a longer period only when the country achieves high economic growth.</span></div>
<div style="margin-bottom: 0.0001pt; text-align: justify; text-indent: 14.15pt; line-height: 11pt; vertical-align: middle;">
	<span style="font-size:12px;"><br />
	<br />
	</span></div>
<div style="margin-bottom: 0.0001pt; text-align: justify; text-indent: 14.15pt; line-height: 11pt; vertical-align: middle;">
	<span style="font-size:12px;">The ways in which our national income has been distributed irrespective of its shape and size among the citizens stands to cause devastating consequences. It can create social tensions and make the rich even richer. The unjust distribution of the fruits of democracy during 1990s has left us a great liability whose effect of course had been spreading all over the country. The nation has already lost over 13,000 lives. Despite such a huge loss of lives, the inequality today is still rising. The income gap between the rich and poor is more intense.&nbsp;Gini index with value between 0 and 1 (0 for perfect equality and 1 for perfect inequality) is used to measure the inequality in the distribution of income and wealth. At present, Nepal's Gini index a gauge of income gap, is 0.47. This index of 0.4 percent is considered a warning line Exceeding this mark signifies that the biggest part of the wealth cake is enjoyed by a minority. If the Gini index points below 0.2, income distribution is highly balanced, between 0.2 and 0.3 is a relatively balanced distribution, 0.4 and 0.5 means that the distribution is being largely spread &nbsp;and if it reaches 0.5, then, distribution is highly unbalanced. Nepalâ€™s Gini index is nearly 0.5 and it means the biggest part of the nation's income goes to only a few. It is because of the lack of equal access to opportunities. Opportunities inside the country are rare. Whatever opportunities are thesre inside the country, they are available only to those who are related with the powerful. Opening up the opportunities in most public sectors like police, military and civil service are not going to help as even such opportunities open other avenues for the powerful people for corruption. It indicates that the powerful and influential persons have hijacked opportunities, benefits, public spaces, shared resources, economic rights and political processes.<br />
	<br />
	<br />
	</span></div>
<div>
	<span style="font-size:12px;"><i><span style="line-height: 115%;">(Dr Dhungel is a Professor of Economics at Tribhuvan University, Kathmandu. He can be reached via email at </span></i><a href="mailto:kamal.raj.dhungel@gmail.com"><i><span style="line-height: 115%;">kamal.raj.dhungel@gmail.com</span></i></a><i><span style="line-height: 115%;">)</span><br />
	</i></span></div>
<div>
	<span style="font-size:12px;"><i>&nbsp;</i></span></div>',
			'published' => true,
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			'modified' => '2012-09-20',
			'keywords' => '',
			'description' => 'The liberalisation policy in china is in effect since the end of 1970s. India has followed the same path since the beginning of 1990s.',
			'sortorder' => '229',
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	(int) 2 => array(
		'Article' => array(
			'id' => '304',
			'article_category_id' => '38',
			'title' => 'Developing Job Ownership: Key To Business Success',
			'sub_title' => '',
			'summary' => null,
			'content' => '<div style="margin-bottom: 0.0001pt; line-height: 120%; vertical-align: middle;">
	<i><span style="font-size: 8pt; line-height: 120%;"><img align="left" alt="" border="2" hspace="2" src="http://newbusinessage.com/ckfinder/userfiles/Images/rabindra karna.jpg" style="width: 98px; height: 130px;" vspace="1" />By Dr Rabindra Karna</span></i></div>
<div style="margin-bottom: 0.0001pt; text-align: justify; line-height: 11pt; vertical-align: middle;">
	<span style="font-size: 9.5pt;">Most people want to feel proud about their work and feel better for having performed to the satisfaction of business needs. While accepting assignments, projects or jobs they do so with with the sense of ownership. These are really professional people. They deal with others with a clear understanding of interdependence and give due consideration and respect to other departments, sections or functions.</span></div>
<div style="margin-bottom: 0.0001pt; text-align: justify; line-height: 11pt; vertical-align: middle;">
	Â </div>
<div style="margin-bottom: 0.0001pt; text-align: justify; text-indent: 14.15pt; line-height: 11pt; vertical-align: middle;">
	<span style="font-size: 9.5pt;">Job ownership by an employee plays crucial role for business success in todayâ€™s competitive global market. Businesses need continued progress in product development. Unless the people take this responsibility of product development with the sense of ownership, they will not put into it their full knowledge and experience and efforts. As a result, competitive advantage benefits will keep missing for all stake holders: the employee, the company, the customers and the investors. </span></div>
<div style="margin-bottom: 0.0001pt; text-align: justify; text-indent: 14.15pt; line-height: 11pt; vertical-align: middle;">
	Â </div>
<div style="margin-bottom: 0.0001pt; text-align: justify; text-indent: 14.15pt; line-height: 11pt; vertical-align: middle;">
	<span style="font-size: 9.5pt;">Anything consistently continued for a longer period will certainly convert into guaranteed success. Though many management scientists argue that â€™success in the life is not difficult to achieveâ€™, continuous move towards the destination is essential to achieve success. Money has never been the highest motivating factor for human resources at a work place. The most common motivators are security, work-life balance, efficiency, learning opportunity and recognition against efforts one puts for business success. </span></div>
<div style="margin-bottom: 0.0001pt; text-align: justify; text-indent: 14.15pt; line-height: 11pt; vertical-align: middle;">
	Â </div>
<div style="margin-bottom: 0.0001pt; text-align: justify; text-indent: 14.15pt; line-height: 11pt; vertical-align: middle;">
	<span style="font-size: 9.5pt;">Simultaneously, the most acknowledged motivator for business owners or investors is emotional attachment. Success and failure are mostly immaterial for them because failure is considered the only way to learn, in business. The challenge for them is not the knowledge but the work ethics, values and consistency to get results. This is called ownership mentality and the same applies for employees with job ownership attitude. </span></div>
<div style="margin-bottom: 0.0001pt; text-align: justify; text-indent: 14.15pt; line-height: 11pt; vertical-align: middle;">
	Â </div>
<div style="margin-bottom: 0.0001pt; text-align: justify; text-indent: 14.15pt; line-height: 11pt; vertical-align: middle;">
	<span style="font-size: 9.5pt;"><img align="left" alt="" border="2" hspace="2" src="http://newbusinessage.com/ckfinder/userfiles/Images/key.jpg" style="width: 238px; height: 340px;" vspace="1" />During recruitment phase, interviews are mostly centred on prospective and anticipated relationships. The standard contract is imposed on the employee as soon as an agreement is reached. However, it mostly escapes â€™detailing position and job profileâ€™. The fact remains that the actual rights and duties of employees emerge through interpersonal relationships built at the workplace during the course of working together. Hence, psychological contract becomes eminent to match one anotherâ€™s expectations contributing to higher level of performance and satisfaction. As long as common understanding and agreement in respect to the business mission, values, loyalty and respect exists between an employee and the employer, trust and commitment remain ensured. The relationship, if managed efficiently and effectively, will tie a stronger knot of mutual trust between the employer and employee matching the objectives and commitments necessary for business prosperity. In case it turns negative, it may result in disenchantment, de-motivation and resentfulness of authoritarianism within the organisation resulting in inefficient work, internal units not corresponding to the mission and objectives of the organisation and much more.</span></div>
<div style="margin-bottom: 0.0001pt; text-align: justify; text-indent: 14.15pt; line-height: 11pt; vertical-align: middle;">
	Â </div>
<div style="margin-bottom: 0.0001pt; text-align: justify; line-height: 11pt; vertical-align: middle;">
	<b><span style="font-size: 9.5pt;">The words â€™employeesâ€™ or â€™Staffâ€™, to the extent of psychological contract, signify:</span></b></div>
<div style="margin: 0in 0in 0.0001pt 9pt; text-align: justify; text-indent: -9pt; line-height: 11pt; vertical-align: middle;">
	<span style="font-size: 9pt; color: black;">&nbsp;</span><span style="font-size: 9pt;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Employersâ€™ behaviour and dealing with employees</span></div>
<div style="margin: 0in 0in 0.0001pt 9pt; text-align: justify; text-indent: -9pt; line-height: 11pt; vertical-align: middle;">
	<span style="font-size: 9pt;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Employeesâ€™ input to the job they are entrusted or hired for</span></div>
<div style="margin-bottom: 0.0001pt; text-align: justify; text-indent: 14.15pt; line-height: 11pt; vertical-align: middle;">
	<span style="font-size: 9.5pt;">Respect, trust, fairness and objectivity are equally important in a job because job holders like these are essential for a civilised society in general. From a wider perspective, these become complex and significant at workplace and especially in management practices mainly towards â€™change managementâ€™.</span></div>
<div style="margin-bottom: 0.0001pt; text-align: justify; text-indent: 14.15pt; line-height: 11pt; vertical-align: middle;">
	Â </div>
<div style="margin-bottom: 0.0001pt; text-align: justify; text-indent: 14.15pt; line-height: 11pt; vertical-align: middle;">
	<span style="font-size: 9.5pt;">The employer and employee relationship has grown in complexity with the emergence or growth of globalised skills market allowing very high mobility of people resources. Leadership is basically seen as representing the organisation and that reflects the aim and purposes of the organisation owners. Leadership in this context refers to the top management associates like Business Head, CEO etc.&nbsp;The nature of the relationship in transactional analysis is different to one that is limited to employee and employer. However, itâ€™s significant in terms of agreeing on mutual transparent expectations. Further, the management and organisational principles heavily depend on fair and balanced understandings between the employer and employee. </span></div>
<div style="margin-bottom: 0.0001pt; text-align: justify; text-indent: 14.15pt; line-height: 11pt; vertical-align: middle;">
	Â </div>
<div style="margin-bottom: 0.0001pt; text-align: justify; text-indent: 14.15pt; line-height: 11pt; vertical-align: middle;">
	<span style="font-size: 9.5pt;">Peopleâ€™s lives have become more varied, informed and better placed in recent days with the achievement of rapid growth by many economies. Human capital around the globe is equipped more with high awareness and hence, it not only wants more but also deserves more. Therefore, the employees naturally expect greater fulfilment in return for their services or association. The work itself has become far more richly diverse and complicated than ever before. </span></div>
<div style="margin-bottom: 0.0001pt; text-align: justify; text-indent: 14.15pt; line-height: 11pt; vertical-align: middle;">
	Â </div>
<div style="margin-bottom: 0.0001pt; text-align: justify; text-indent: 14.15pt; line-height: 11pt; vertical-align: middle;">
	<span style="font-size: 9.5pt;">There is an increased excitement in the work place these days. The excitement is because of the application of different business model named â€™employee ownershipâ€™ in corporations and cooperatives wherein employees and potentially the customers own the organisation and can therefore represent management mechanism. We see and experience glimpses here possibly as to how organisations might be run more fairly and sustainably in days to come. Globalisation and technology in recent days have shifted everything we knew in relation to organised work onto a totally different level in terms of complexity, rate of change, connectivity and the mobility of human resources and activities.</span></div>
<div style="margin-bottom: 0.0001pt; text-align: justify; text-indent: 14.15pt; line-height: 11pt; vertical-align: middle;">
	Â </div>
<div style="margin-bottom: 0.0001pt; text-align: justify; text-indent: 14.15pt; line-height: 11pt; vertical-align: middle;">
	<span style="font-size: 9.5pt;">Thus, if organisations truly want to make innovations, creating and encouraging job ownership is the key. This ownership is the investment from both the company (funding, balanced work culture) and the employee (time, knowledge, commitment) by allowing and generating acceptance as well as securing achievement towards personal responsibility for products, processes and different stakeholders involved with the organisation. Job ownership reflects business understanding in view of culture, goal, and customers etc facilitating interactions with various elements widely known as interpersonal skills. It forces people to display a selfless attitude ensuring and delivering not only acceptable but better, improved and acknowledgeable productivity.</span></div>
<div style="margin-bottom: 0.0001pt; text-align: justify; text-indent: 14.15pt; line-height: 11pt; vertical-align: middle;">
	Â </div>
<div style="margin-bottom: 0.0001pt; text-align: justify; text-indent: 14.15pt; line-height: 11pt; vertical-align: middle;">
	<span style="font-size: 9.5pt;">Getting people to think and act like owners has never been easy and hence, if employees accept and take up jobs considering themselves as owners, it must be considered a great achievement. Employees are motivated further in view of sustainability onto business expectations. Involving employees in decision making requires entrepreneurs to seek input from employees and must listen to them.&nbsp;The solution really lies in making them part of decision making. </span></div>
<div style="margin-bottom: 0.0001pt; text-align: justify; text-indent: 14.15pt; line-height: 11pt; vertical-align: middle;">
	Â </div>
<div style="margin-bottom: 0.0001pt; text-align: justify; text-indent: 14.15pt; line-height: 11pt; vertical-align: middle;">
	<span style="font-size: 9.5pt;">Ultimately, itâ€™s all about people and taking care of people resources for better productivity in terms of business sustainability. Promoting job ownership and acceptance in the true sense will certainly guarantee the realisation of organisational mission, goal and objectives. </span></div>
<div>
	<i><span style="font-size: 9.5pt; line-height: 115%;">(Dr Karna is the Executive Chairman of MARK Business Solutions Pvt Ltd and Ad Abhyas Marketing &amp; Communications Pvt Ltd. The article is based on various research reports and his practical experiences as management practitioner.)</span></i></div>',
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			'id' => '302',
			'article_category_id' => '50',
			'title' => 'Feedback May 2011',
			'sub_title' => '',
			'summary' => null,
			'content' => '<div style="margin-bottom: 0.0001pt; text-align: justify; line-height: 11pt; vertical-align: middle;">
	<span style="font-size:12px;"><strong>Federalism Is In <br />
	</strong><br />
	<br />
	<img align="left" alt="" border="1" height="299" hspace="5" src="http://newbusinessage.com/ckfinder/userfiles/Images/cover story.jpg" style="width: 227px; height: 299px;margin:10px;padding:10px;" vspace="5" width="227" /><br />
	Federalism is of prime importance given the current political circumstances. Unfortunately, we don;t hear about it being debated or discussed at the policy making level by the people who matter the esteemed law makers of the country. Therefore, it was good to have it covered as the cover story in the April issue of New Business Age which shed light on the fiscal face of federalism in Nepal.<br />
	<br />
	<br />
	</span></div>
<div style="margin-bottom: 0.0001pt; text-align: justify; text-indent: 14.15pt; line-height: 11pt; vertical-align: middle;">
	<span style="font-size:12px;">The politicians till now used federalism to their advantage by manipulating the ethnic sentiments of the countrymen. The federalism that would really give people the fruit of prosperity, rights and recognition is not even pronounced by the law makers. They are busy playing the political musical chair. The fiscal aspect of federalism needs a thorough discussion at the policy making level. The new constitution that is going to be promulgated sooner or later needs to incorporate federalism as the country has already been pronounced a federal republic. <br />
	<br />
	</span></div>
<div style="margin-bottom: 0.0001pt; text-align: justify; text-indent: 14.15pt; line-height: 11pt; vertical-align: middle;">
	<span style="font-size:12px;"><br />
	</span></div>
<div style="margin-bottom: 0.0001pt; text-align: justify; text-indent: 14.15pt; line-height: 11pt; vertical-align: middle;">
	<span style="font-size:12px;">Until now, federalism has not become more than an emotional bait to win the sentiments of different communities that have fallen back in the race of mainstreaming. The devolution of states based on ethnicity is the example of that principle. The ethnicity-based federalism is a slogan raised by political parties for cheap popularity. In the end, it is not going to meet the expectations of the ethnic communities. Experts opine that ethnic federalism is a suicidal approach.</span></div>
<div style="margin-bottom: 0.0001pt; text-align: justify; text-indent: 14.15pt; line-height: 11pt; vertical-align: middle;">
	<span style="font-size:12px;"><br />
	<br />
	</span></div>
<div style="margin-bottom: 0.0001pt; text-align: justify; text-indent: 14.15pt; line-height: 11pt; vertical-align: middle;">
	<span style="font-size:12px;">Overall development must be an agenda and the major goal of federalism. Economic base is something that cannot be taken lightly while devolving the states. The map should be sketched in a manner that would equally and justly divide resources among states to guarantee the autonomy of the state nations. Lawmakers should not delay discussing such important aspects.</span></div>
<div style="margin-bottom: 0.0001pt; text-align: justify; text-indent: 14.15pt; line-height: 11pt; vertical-align: middle;">
	<span style="font-size:12px;"><br />
	<br />
	</span></div>
<div style="text-align: justify;">
	<span style="font-size:12px;"><span style="line-height: 115%;">The world has witnessed the failure of many nation states. We cannot be assured that, as a country, we are going to be an exception. We must look to divide states in a way that they can sustain on their own and meet their economic needs. Otherwise, we may be left to blame ourselves for the failure of federalism that we hold high expectations from. Lawmakers should now concentrate on the country's development rather than spending their time and energy to save their jobs as Constituent Assembly Member by indefinitely extending it without an end result.<br />
	<br />
	</span></span></div>
<div style="margin-bottom: 0.0001pt; text-align: justify; line-height: 11pt; vertical-align: middle;">
	<span style="font-size:12px;"><b>- Bibash Aryal</b></span><br />
	Paknajole, Kathmandu<br />
	 </div>
<div style="text-align: justify;">
	<p style="text-align: center;">
		<span style="font-size:12px;"><b><span style="line-height: 115%;"><br />
		<br />
		---------------------------------------------------------------------------------------------------------------<br />
		<br />
		<br />
		<br />
		</span></b></span></p>
	<div style="text-indent: 0in; text-align: justify;">
		<span style="font-size:12px;"><span style="color: rgb(0, 0, 0);"><strong>The Divided Business Community</strong><br />
		<br />
		The Biztoon in your New Business Age's April issue caught my attention. It raised a question as to who actually represents the business community. The business community in Nepal is responsible for creating jobs for thousands. The contribution to the economy made by the private sector is definitely praiseworthy. It currently lacks a favourable investment climate. The aspiring and emerging entrepreneurs can do wonders if the business leadership can lead the community competitively. Some industrialists have become parliament members in the hope of representing the business fraternity only to get entangled in world of messy politics themselves. In this regard, the umbrella association of the business community, FNCCI, must set an example and lead the community to unprecedented economic development. It's a relief that the FNCCI elections are over. I hope that no two (or are there more?) panels exist now and the elected executive committee will work for a common agenda.<br />
		<br />
		</span></span></div>
	<div style="margin-bottom: 0.0001pt; text-align: justify; line-height: 11pt; vertical-align: middle;">
		<span style="font-size:12px;"><span style="color: rgb(0, 0, 0);"><b>- Basanta Sharma</b></span></span></div>
	<div style="text-align: justify;">
		<span style="font-size:12px;"><span style="color: rgb(0, 0, 0);"><b><span style="line-height: 115%;">New Road<br />
		<br />
		<br />
		</span></b></span></span></div>
	<p style="text-align: center;">
		 </p>
	<p style="text-align: center;">
		<span style="font-size:12px;"><b><span style="line-height: 115%;">---------------------------------------------------------------------------------------------------------------</span></b></span><br />
		<span style="font-size:12px;"> <br />
		<br />
		<br />
		<b><span style="line-height: 115%;"> <br />
		</span></b></span></p>
</div>',
			'published' => true,
			'created' => '2011-05-31',
			'modified' => '2012-08-28',
			'keywords' => '',
			'description' => 'Federalism is of prime importance given the current political circumstances. Unfortunately, we don't hear about it being debated or discussed at the policy making level by the people who matter the esteemed law makers of the country.',
			'sortorder' => '227',
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	(int) 4 => array(
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			'article_category_id' => '50',
			'title' => 'Feedback April 2011',
			'sub_title' => '',
			'summary' => null,
			'content' => '<p>
	<strong>Make The Most Of The Sun</strong></p>
<div style="text-align: justify;">
	<p class="MsoNormal" style="margin-bottom: 0.0001pt; text-align: justify; text-indent: 14.15pt; line-height: 11pt; vertical-align: middle;">
		<span style="font-size: 12px;"><span style="font-family: "><br />
		I</span><span style="">n Nepal, we are fortunate to have sunshine round the year. Rajan Pradhan in his article, Producing Energy, the Solar Way in the March issue of New Business Age has written that Nepal has the potential of producing 26,000 Mega Watts of solar energy. Going by this account, we are rich in this alternate source of power besides the usual and much promised hydropower.<br />
		<br />
		</span></span></p>
	<p class="MsoNormal" style="margin-bottom: 0.0001pt; text-align: justify; text-indent: 14.15pt; line-height: 11pt; vertical-align: middle;">
		<span style="font-size: 12px;"><span style="font-family: ">Though we have resources, we are people who are forced to spend our lives in darkness, for most part of the day and night. Power cut reaching up to 18 hours a day is a pathetic state-of-affairs, to say the least. It seems we are training ourselves to live without electricity. Since the successive governments have failed oh-so-miserably in providing a solution, the time has come for us people to take the matter in our own hands and start generating power ourselves. <br />
		<br />
		</span></span></p>
	<p class="MsoNormal" style="margin-bottom: 0.0001pt; text-align: justify; text-indent: 14.15pt; line-height: 11pt; vertical-align: middle;">
		<span style="font-size: 12px;"><span style="font-family: ">Business houses and industries have started doing so. Most of the households too have made their arrangement of UPS or invertors. However, very few have thought about installing solar power. As Pradhan observes it could be due to the high EMI on loan. Though it might seem expensive for first time installation, it is relatively cheaper over the long term. Solar panel can meet daily power needs and save on outrageous monthly electricity bills. I personally have seen this in villages where households have installed solar panels before electrification reached them. Despite electricity authority reaching them now, they refuse to subscribe to conventional power as they are happy with their existing arrangement. The solar electricity produced in households can even be supplied to the national grid like in the European countries if adequate provisions can be made. <br />
		<br />
		</span></span></p>
	<p class="MsoNormal" style="text-align: justify;">
		<span style="font-size: 12px;"><span style="line-height: 115%; font-family: ">The government must think about providing subsidies and soft loans and introduce special schemes to those who want to use the alternative energy which is also eco friendly and easily available. Either the government must end the power crisis immediately or help people install the solar option.</span></span></p>
	<p style="text-align: justify;">
		 </p>
	<p class="MsoNormal" style="margin-bottom: 0.0001pt; text-align: justify; line-height: 11pt; vertical-align: middle;">
		<span style="font-size: 12px;"><b><span style="font-family: ">- Surya Chapagain</span></b></span></p>
	<p class="MsoNormal" style="text-align: justify;">
		<span style="font-size: 12px;"><b><span style="line-height: 115%; font-family: ">Satdobato</span></b></span></p>
	<p class="MsoNormal" style="text-align: center;">
		 </p>
	<p class="MsoNormal" style="text-align: center;">
		<span style="font-size: 12px;"><b>----------------------------------------------------------------------------------------------------------------------------------------------------------------------------</b></span><span style="font-size: 16px;"><strong><span style="line-height: 115%; font-family: "> <br />
		</span></strong></span></p>
	<p style="text-align: center;">
		 </p>
	<p class="BODYTEXT" style="text-align: justify; text-indent: 0in;">
		<span style="font-size: 16px;"><strong><span style="font-family: ">Stop Terrorising Businesses<br />
		<br />
		</span></strong></span></p>
	<p class="BODYTEXT" style="text-indent: 0in; text-align: justify;">
		<span style="font-size: 12px;"><span style="color: rgb(182, 21, 31);">N</span>epal is experiencing a slow pace of economic growth and even slower industrialisation. The power woes and unstable political environment are impeding the countryâ€™s growth. Business houses always emphasise that stable political situation and lasting peace and security are imperative for industrialisation. An investment friendly environment cannot be created without a stable socio political environment. <br />
		<br />
		</span></p>
	<p class="BODYTEXT" style="text-align: justify;">
		<span style="font-size: 12px;">In the last week of March, we have seen fresh cases of impunity in the Terai where most industries are located. Such incidences would affect businesses and investor psychology about the future.&nbsp; This would further derail the process of economic growth.&nbsp; Such activities are adding pressure to the already existing troubles. The concerned groups must start thinking about the nation and economic prosperity. Everybody needs to understand that without the development of industries and private sector, Nepal cannot tread on the path of sustainable growth and development.</span></p>
	<p style="text-align: justify;">
		 </p>
	<p class="MsoNormal" style="margin-bottom: 0.0001pt; text-align: justify; line-height: 11pt; vertical-align: middle;">
		<span style="font-size: 12px;"><b><span style="font-family: ">- Narayan Prasad Adhikari</span></b></span></p>
	<p class="MsoNormal" style="text-align: justify;">
		<span style="font-size: 12px;"><b><span style="line-height: 115%; font-family: ">Chitwan</span></b></span></p>
	<p style="text-align: center;">
		 </p>
	<p class="MsoNormal" style="text-align: center;">
		<span style="font-size: 12px;"><b>----------------------------------------------------------------------------------------------------------------------------------------------------------------------------</b></span></p>
	<p class="MsoNormal" style="text-align: justify;">
		<span style="font-size: 12px;"><b><span style="line-height: 115%; font-family: "><br />
		</span></b></span></p>
	<p style="text-align: justify;">
		 </p>
	<p class="BODYTEXT" style="text-align: justify; text-indent: 0in;">
		<span style="font-size: 16px;"><strong><span style="font-family: ">Banks Must Get More Responsible</span></strong></span></p>
	<p class="BODYTEXT" style="text-indent: 0in; text-align: justify;">
		<span style="font-size: 12px;"><span style="color: rgb(182, 21, 31); letter-spacing: -0.1pt;">T</span><span style="letter-spacing: -0.1pt;">he cover story on banking industry in your March issue portrayed a detailed picture of this sector. The growth of the banking and financial institutions is a good thing but their limited reach to the rural areas is a worrisome attribute. <br />
		</span></span></p>
	<p class="BODYTEXT" style="text-align: justify;">
		<span style="font-size: 12px;"><span style="letter-spacing: -0.1pt;">Time and again, there are issues of banks and finance companies failure. Recent examples include Samjhana Finance and Gurkha Development Bank. Some might say this is bound to happen given the crowd of 272 banks and financial institutions. But this is not something that cannot be controlled. The closure or failure of a bank is not comparable to the closure of a retail shop on a street corner. A financial institution's closure leaves a huge crater on the entire economy. <br />
		</span></span></p>
	<p class="BODYTEXT" style="text-align: justify;">
		<span style="font-size: 12px;"><span style="letter-spacing: -0.1pt;">&nbsp;The story rightly point out that this is a well regulated sector. However, despite such regulation and strong monitoring by the Nepal Rastra Bank, incidences of failure occur time and again. Such incidents repeating amidst central bank regulations are rather unfortunate. Most of the time, failure of corporate governance has resulted into such mishaps. Probably, some of the banks owners or the management teams do not take their institutions and the depositors seriously enough. In some cases, they themselves manage to lead the company on the verge of collapse. <br />
		</span></span></p>
	<p class="BODYTEXT" style="text-align: justify;">
		<span style="font-size: 12px;"><span style="letter-spacing: -0.1pt;">They take huge amount of loans behind the scene which later proves to be non performing loans or show investment in areas that does not give any returns. Such practices bear the potential to eventually lead the company towards bankruptcy. In the bargain, it's the depositors in particular and the economy in general which stands to suffer. The report shows Rs 15 billion as the negative net worth of just two banks. This is a ticking time bomb that may explode any time. <br />
		</span></span></p>
	<p class="BODYTEXT" style="text-align: justify;">
		<span style="font-size: 12px;"><span style="letter-spacing: -0.1pt;">So, the regulations may not prove to be successful every time. Companies must maintain self- discipline, good corporate governance and realise the importance of their respective financial institutions. They must not forget theirs is not a business house only. There is tremendous responsibility on their shoulders that they must fulfill.</span></span></p>
	<p style="text-align: justify;">
		 </p>
	<p class="MsoNormal" style="margin-bottom: 0.0001pt; text-align: justify; line-height: 11pt; vertical-align: middle;">
		<span style="font-size: 12px;"><b><span style="font-family: ">- Samiksha Budhathoki</span></b></span></p>
	<p class="MsoNormal" style="text-align: justify;">
		<span style="font-size: 12px;"><b><span style="line-height: 115%; font-family: ">Gairigaun, Kathmandu</span></b></span></p>
	<p style="text-align: justify;">
		 </p>
	<br />
	<span style="font-size:12px;"><b> <br />
	</b></span></div>',
			'published' => true,
			'created' => '2011-05-31',
			'modified' => '2012-08-28',
			'keywords' => '',
			'description' => 'Now, the governance is not limited to the way how the state and bureaucracy functions. This is something which is gaining popularity among the corporate houses too.',
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	(int) 5 => array(
		'Article' => array(
			'id' => '299',
			'article_category_id' => '42',
			'title' => 'CDS Charms Low; Stock Negative',
			'sub_title' => '',
			'summary' => null,
			'content' => '<div style="margin-bottom: 0.0001pt; line-height: 120%; vertical-align: middle; text-align: justify;">
	<i><span style="font-size: 8pt; line-height: 120%;"><img align="left" alt="stocktaking" border="1" height="127" hspace="5" src="http://newbusinessage.com/ckfinder/userfiles/Images/bikram.jpg" style="width: 105px; height: 127px;margin:10px;padding:10px;" vspace="5" width="105" />By Bikram Chitrakar</span></i></div>
<div style="text-align: justify;">
	<br />
	 </div>
<div style="text-indent: 0in; text-align: justify;">
	<span style="font-size: 14px;">T</span><span style="font-size: 8pt;">he Nepali share market had a lacklustre performance also in the month during March 20-April 19 despite the inauguration of eagerly awaited Central Depository System and Clearing Ltd. Also the prospect of good third quarter financial results did not help the market sentiment. The benchmark NEPSE index dropped 15.16 points or 4.16% to settle at 364.3 points. The session's highest was on 21 March with 379.46 while the session's lowest was on 29 March with 358.04.<br />
	<br />
	<br />
	</span></div>
<div style="text-align: justify;">
	<span style="font-size: 8pt; letter-spacing: -0.05pt;">Central Depository System (CDS) and Clearing Ltd was formally inaugurated on 31 March, 2011 which was keenly expected by the investors of Nepal. Despite its opening, the market could not take off as investors were more worried about the scenario after the May 28 deadline for promulgation of the countryâ€™s new constitution lapses. </span></div>
<div style="text-align: justify;">
	<br />
	 </div>
<div style="text-align: justify;">
	<span style="font-size: 8pt;">The automated system of CDS will facilitate speedy and safe clearing and settlement of transactions. The safety and security of the digital holding of shares will eliminate fraud and misuse of share certificates while the flow of shares will increase in the market due to instant transfer. One reaction of the market to the new development is that heavy volume of scrip was traded through matching , particularly towards the first half of April. The trade volume during the period was higher than the average despite the index closing at a lower level. The increased cases of matching during this period is explained by the fact that matching is going to be difficult under the CDS system. Therefore, the investors who had bought shares in the IPOs under fictitious names were transferring such shares on their real names and in doing so they pressed the prices lower to reduce the capital gains tax.&nbsp;</span></div>
<div style="text-align: justify;">
	<br />
	 </div>
<div style="text-align: justify;">
	<span style="font-size: 8pt; letter-spacing: -0.1pt;">Securities Board of Nepal (SEBON) organised an interaction programme during the month about the regulation it has drafted to allow setting up credit rating agencies in Nepal. This draft now needs to be approved by the Ministry of Finance beofre they can go for implementation. After the establishment of these agencies, the issues (IPO, rights) exceeding Rs. 100 million size will have to be rated by such agencies before they are floated to the public. </span></div>
<div style="text-align: justify;">
	<br />
	 </div>
<div style="text-align: justify;">
	<br />
	 </div>
<div style="text-align: justify;">
	<strong><span style="font-size: 8pt;">Performance by Sector<br />
	<br />
	<br />
	</span></strong></div>
<div style="text-align: justify;">
	<span style="font-size: 8pt; letter-spacing: -0.05pt;">Commercial banking sector that accounts for the highest volume of trade in the exchange lost 27.73 points or 9.01% to settle at 307.73. Manufacturing and processing sector dropped 25.54 points to 500.59. to close at 434.83 and 312.1 respectively. Insurance sub-indices lost 17.30 points to settle at 448.83 while finance sector plummets 5.70 points or 1.83% to close at 310.91. However, the hydropower sector gained 71.22 points or 9.80% to settle at 726.97. </span></div>
<div style="text-align: justify;">
	<br />
	 </div>
<div style="text-align: justify;">
	<span style="font-size: 8pt;">A total of Rs 492,513,784 was realised during the review period from 1,985,844 units of share trade via 30,739 transactions.</span></div>
<div style="text-align: justify;">
	<br />
	 </div>
<div style="text-align: justify;">
	<span style="font-size: 8pt;">The accompanying figure shows sector-wise distribution based on the total amount of trades. The commercial banks accounted for 44.20% whereas the insurance sector constituted 16.35% which is more than that of the finance companies which stood at 14.80%. Similarly, the development banks hold 13.80% while rest of the sectors covered the remaining portion of the trade.</span></div>
<div style="text-align: justify;">
	<br />
	 </div>
<div style="text-align: justify;">
	<span style="font-size: 8pt; letter-spacing: -0.15pt;">Technically, the Simple Moving Average (SMA) is dominating the market as both 30 days SMA and 200 Days SMA are above the trend line. It indicates possibility of a further downfall.<br />
	<br />
	<br />
	</span></div>
<div style="text-align: justify;">
	<i><span style="font-size: 8pt;">(Chitrakar is a Stock Analyst with Jamb Technologies Pvt Ltd.)</span></i></div>',
			'published' => true,
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			'description' => 'The Nepali share market had a lacklustre performance also in the month during March 20-April 19 despite the inauguration of eagerly awaited Central Depository System and Clearing Ltd.',
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			'id' => '298',
			'article_category_id' => '47',
			'title' => 'An Unassuming Rana',
			'sub_title' => '',
			'summary' => null,
			'content' => '<div style="margin-bottom: 0.0001pt; text-align: justify; line-height: 120%; vertical-align: middle;">
	<b><span style="font-size: 8pt; line-height: 120%;"><img align="left" alt="rana" border="1" height="247" hspace="5" src="http://newbusinessage.com/ckfinder/userfiles/Images/personality(1).jpg" style="width: 205px; height: 247px;margin:10px;padding:10px;" vspace="5" width="205" /></span></b></div>
<div style="margin-bottom: 0.0001pt; line-height: 120%; vertical-align: middle;">
	<span style="font-size:12px;"><b><span style="line-height: 120%;">Umang SJB Rana</span></b></span></div>
<div style="margin-bottom: 0.0001pt; line-height: 120%; vertical-align: middle;">
	<span style="font-size:12px;"><span style="line-height: 120%;">CEO</span></span></div>
<div>
	<span style="font-size:12px;"><span style="line-height: 115%;">Westar Properties<br />
	</span></span><span style="line-height: 115%;"><br />
	</span></div>
<div style="text-align: justify;">
	<span style="font-size: 8pt;">Horseback rides, adventure sports and lots of fun aside, Umang Rana's disciplinarian parents ensured he learnt to respect everybody. He expresses his gratitude for the earthly values his parents instilled in him right since his childhood. </span></div>
<div>
	<br />
	 </div>
<div style="text-indent: 0in;">
	<strong><i><span style="font-size: 8pt;">By Pinaki Roy<br />
	<br />
	</span></i></strong></div>
<div style="margin-bottom: 0.0001pt; vertical-align: middle; text-align: justify;">
	<span style="font-size: 12px;">B</span><span style="font-size: 9.5pt;">orn into Rana aristocracy, Umang SJB Rana, the CEO of Westar Properties did not have life served on a platter for him. Not that his family couldn't afford so, it was because his parents wanted to instil earthly values in him right since his childhood. Rana expresses his gratitude for the same, I am what I am today largely because of my parents and the values they taught me.</span></div>
<div style="margin-bottom: 0.0001pt; line-height: 11pt; vertical-align: middle;">
	<br />
	 </div>
<div style="margin-bottom: 0.0001pt; text-indent: 14.15pt; line-height: 11pt; vertical-align: middle; text-align: justify;">
	<span style="font-size: 9.5pt;">The first child of Former Deputy Inspector General of Nepal Police Rupal SJB Rana and Montessori Teacher Usha Rana, he went to Dipendra Police School (which is now Nepal Police School), Sanga. Rana considers himself blessed to have travelled the length and breadth of Nepal, Being a policeman, my father relocated frequently to different parts of Nepal. I visited no less than 13 zones myself during my school vacations.&nbsp;</span></div>
<div style="margin-bottom: 0.0001pt; text-indent: 14.15pt; line-height: 11pt; vertical-align: middle;">
	<br />
	 </div>
<div style="margin-bottom: 0.0001pt; text-indent: 14.15pt; line-height: 11pt; vertical-align: middle; text-align: justify;">
	<span style="font-size: 9.5pt;">His father wanted at least one of his two sons to join the defence forces but young Umang had different ideas in mind. After completing his A-Level from Nagarjuna Academy and ISc from St Xavier's College, Rana left for Russia to study Civil Engineering. But he left the study midway and returned home two years later. I just couldn't complete it. I fell home sick, he admits in a near apologetic tone. Back in Nepal, he began pursuing Bachelor of Business Studies degree with specialisation in Human Resource. While still in college, Rana landed his first paid job a month long stint with Surya Tobacco Company (now Surya Nepal) for its product introduction. I was on the streets promoting the new product to the passers-by and asking them to try it. Each day, they will send me to a new location, he reminisces. </span></div>
<div style="margin-bottom: 0.0001pt; text-indent: 14.15pt; line-height: 11pt; vertical-align: middle;">
	<br />
	 </div>
<div style="margin-bottom: 0.0001pt; text-indent: 14.15pt; line-height: 11pt; vertical-align: middle;">
	<span style="font-size: 9.5pt;">An introvert since early childhood, Rana had quite a few female acquaintances but never a serious relationship. He is happily married for seven years now and has a two-year-old son. You ask him about his school friends and he goes, Most of my friends from school are settled abroad. But I do come across the ones that are still here.Rana's wife Aashmi who owns Himali Pashmina Udyog was instrumental in goading him to turn a businessman. He says, I am lucky to have her as my life partner. She inspired me to take up business for a profession.</span></div>
<div style="margin-bottom: 0.0001pt; text-indent: 14.15pt; line-height: 11pt; vertical-align: middle;">
	<br />
	 </div>
<div style="margin-bottom: 0.0001pt; text-indent: 14.15pt; line-height: 11pt; vertical-align: middle; text-align: justify;">
	<span style="font-size: 9.5pt;">Venturing into business ended his career as a DHL executive. Rana had started out at DHL as an Assistant Operations Coordinator in 1999 and worked up the ladder to become its Country Operations Manager before he left in 2007. â€œI must say it was a rewarding career, he admits. Having travelled the entire South East Asia for his work, he had little left to achieve unless he wanted to take up a position with the company abroad. This is another factor that triggered his retirement from DHL as he did not want to move out of Nepal. After weighing several options, Rana finally decided to plunge into construction as, Apartment business was much in demand around three years ago which led to my decision to enter this line of business.One thing led to another and he entered into a technical collaboration with Westar Properties, Dubai. </span></div>
<div style="margin-bottom: 0.0001pt; text-indent: 14.15pt; line-height: 11pt; vertical-align: middle;">
	<br />
	 </div>
<div style="margin-bottom: 0.0001pt; text-indent: 14.15pt; line-height: 11pt; vertical-align: middle; text-align: justify;">
	<span style="font-size: 9.5pt;">Rana asserts that you can call a project a success only when it gets completed. It is precisely when commitment gets delivered and a dream turns into reality. He gets a bit emotional talking about his current project Westar Residency, a Vaastu compliant high-rise apartment building at Balkumari, Lalitpur. This is my baby. I have been involved with the project from scratch and it's immensely satisfying to see it taking shape,he says. A planner, by his own admission, he recommends infrastructure as a prime importance and wants the government to ensure infrastructure development for the overall development of the country.&nbsp;</span></div>
<div style="margin-bottom: 0.0001pt; text-indent: 14.15pt; line-height: 11pt; vertical-align: middle;">
	<br />
	 </div>
<div style="margin-bottom: 0.0001pt; text-indent: 14.15pt; line-height: 11pt; vertical-align: middle; text-align: justify;">
	<span style="font-size: 9.5pt;">He believes he was born with a golden heart, I go out of my way to help people. I guess it comes naturally to me.He is a religious person and prays for self-satisfaction. He draws inspiration from Bhagavad Gita your good actions automatically come back to you, sooner or later. Living in a joint family, he is a self-confessed homely person. He says that living in a joint family comes with a lot of advantages as well as responsibilities. On week days, it's a strict home-to-office and vice versa. He loves to catch up on movies though, with his wife and parents. He says, I am glad that there are a few good movie theatres now that we can go to.</span></div>
<div style="margin-bottom: 0.0001pt; text-indent: 14.15pt; line-height: 11pt; vertical-align: middle;">
	<br />
	 </div>
<div style="margin-bottom: 0.0001pt; text-indent: 14.15pt; line-height: 11pt; vertical-align: middle; text-align: justify;">
	<span style="font-size: 9.5pt;">Not a party animal, he normally attends social occasions only. Late nights are a complete no-no, I don't have this urge like a lot of other people to attend the so-called happening events in town.You will usually find Rana comfortably attired. He believes in dressing for the occasion. Clad in a suit while showing around his sample flats, he can be caught wearing shorts and T-shirts in summer. At other times, he loves to wear daura-suruwal for&nbsp; family functions. </span></div>
<div style="margin-bottom: 0.0001pt; text-indent: 14.15pt; line-height: 11pt; vertical-align: middle;">
	<br />
	 </div>
<div style="text-align: justify;">
	<span style="font-size: 9.5pt; line-height: 115%;">He says it's just the right time for him to work hard, I am giving it all I have, for the completion of Westar Residency by its projected deadline 4th Qtr of 2012. Once the mission is accomplished, Rana wants to expand his business horizon and move into other sectors depending on the direction the nation's economy heads towards in the next 5-10 years. At present, the uncertainty level is very high so I am yet to identify my future business course, he explains. He has kept all options open and wants to enter businesses that have values. A firm believer in the adage, œlearning never stops, success is not only about creating wealth for him. Letting go of bachelorhood and becoming a father later transformed him as a person, he says. My marriage and the birth of my son has made me become more responsible socially and had me planning for the future, he reveals. Having led quite a privileged life, Rana doesn't have any major regrets and is content with everything god has to offer. </span></div>
<div>
	<br />
	<br />
	 </div>
<div style="margin: 0in 0in 0.0001pt 70pt; text-indent: -70pt; line-height: 11pt; vertical-align: middle;">
	<strong><span style="font-size: 10pt;">On the Side<br />
	<br />
	</span></strong></div>
<ul>
	<li>
		<b><span style="font-size: 9.5pt;">Sports : </span></b><span style="font-size: 9.5pt;">Played football, basketball, badminton, tennis, cricket, volleyball&nbsp; you name it! Tried his hands at golf too, for a week,&nbsp; a time consuming sport. I will take it up full time later in life.<br />
		</span></li>
	<li>
		<b><span style="font-size: 9.5pt;">Pets :&nbsp;</span></b><span style="font-size: 9.5pt;">Owns a Tibetan Dog. Loves animals, Playing with them works as a stress buster.<br />
		</span></li>
	<li>
		<b><span style="font-size: 9.5pt;">Mobile Phones :</span></b><span style="font-size: 9.5pt;"> Any model that can receive and make phone calls is good enough. Not a gadget freak.<br />
		</span></li>
	<li>
		<b><span style="font-size: 9.5pt;">Car:&nbsp;</span></b><b><span style="font-size: 9.5pt;"> </span></b><span style="font-size: 9.5pt;">Has a fascination for automobiles. Currently drives a Mitsubishi Pajero. Prefers to drive an SUV as it is ideal for his weekend travels.<br />
		</span></li>
	<li>
		<b><span style="font-size: 9.5pt;">Television : </span></b><span style="font-size: 9.5pt;">Mainly News channels including Al Jazeera and BBC.<br />
		</span></li>
	<li>
		<b><span style="font-size: 9.5pt;">Movies&nbsp; :</span></b><span style="font-size: 9.5pt;"> Favourite genre&nbsp; Action flicks. Mad about actor Steven Seagal.<br />
		</span></li>
	<li>
		<b><span style="font-size: 9.5pt;">Food&nbsp; : </span></b><span style="font-size: 9.5pt;">Daal Bhaat Rice is my biggest weakness. Also likes Japanese and Chinese food.</span><span style="font-size: 10pt;">Trivia:</span></li>
</ul>
<p>
	 </p>
<p>
	<strong>Other<br />
	</strong></p>
<ul>
	<li>
		<span style="font-size: 9.5pt; color: rgb(157, 10, 14);">&nbsp;</span><span style="font-size: 9.5pt;">Rana wanted to learn piloting, a childhood dream he never pursued. </span></li>
	<li>
		<span style="font-size: 9.5pt; color: rgb(157, 10, 14);">&nbsp;</span><span style="font-size: 9.5pt;">His father's wish finally came true My younger brother joined the police, he quips. </span></li>
	<li>
		<span style="font-size: 9.5pt; color: rgb(157, 10, 14);">&nbsp;</span><span style="font-size: 9.5pt;">A terrible liar I find it difficult to lie because when I do, it reflects on my face</span></li>
	<li>
		<span style="font-size: 9.5pt; line-height: 115%;">For a rush delivery while at DHL, he momentarily forgot his work designation and drove a delivery van.</span></li>
</ul>
<p>
	 </p>
<p>
	 </p>',
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			'description' => 'Born into Rana aristocracy, Umang SJB Rana, the CEO of Westar Properties did not have life served on a platter for him.',
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	(int) 7 => array(
		'Article' => array(
			'id' => '297',
			'article_category_id' => '46',
			'title' => 'Dr Supachai Panitchpakdi',
			'sub_title' => '',
			'summary' => null,
			'content' => '<p>
	<span style="font-size: 14px;"><strong><br />
	</strong></span></p>
<p>
	<span style="font-size: 14px;"><strong>Trade Should Be Harnessed To Ensure Development</strong></span></p>
<p>
	 </p>
<p>
	<span style="font-size:14px;"><strong><br />
	</strong></span></p>
<div style="text-align: justify;">
	<span style="font-size:12px;"><img align="left" alt="WTO" border="1" height="185" hspace="5" src="http://newbusinessage.com/ckfinder/userfiles/Images/interview1(1).jpg" style="width: 266px; height: 185px;margin:10px;padding:10px;" vspace="5" width="266" />Dr Supachai Panitchpakdi is the Secretary-General of the UN Conference on Trade and Development (UNCTAD), a post he first took up in September 2005. Prior to this, he was the Director-General of the World Trade Organisation (WTO). A PhD in Economic Planning and Development from the Netherlands School of Economics (now Erasmus University Rotterdam), he also served as Thailand's Deputy Prime Minister, Minister of Commerce and Deputy Minister of Finance on different times.&nbsp;Dr Supachai was in Kathmandu recently to attend the Regional Workshop on Productive Capacities, Economic Growth and Poverty Reduction in Asian and the Pacific LDCs. In an interview with Gaurav Aryal of <i>New Business Age</i>, he shared his views on economic, trade and development issues of the Least Developed Countries (LDCs).&nbsp;Excerpts:</span></div>
<div style="text-align: justify;">
	<span style="font-size:12px;"><br />
	<br />
	</span></div>
<div style="text-align: justify;">
	<span style="font-size:12px;"><strong>UNCTAD is organising a series of regional workshops to disseminate the findings of its reports such as Least Developed Countries Report, UNCTADâ's Division for Africa, Least Developed Countries and Special Programmes (ALDC) etc. What are the general findings of these reports?<br />
	<br />
	</strong></span></div>
<div style="text-align: justify;">
	<span style="font-size:12px;">We are trying to concentrate on the areas of structural adjustments mainly in supporting the work of the states. We are trying to create productive capacity which means jobs creation, investment in infrastructure, investment in power plants and education. Our findings say that economic growth is needed to create social welfare for people. It does not happen automatically. So, there has to be definite development governance that would direct all the gains from growth to areas that would give people the right to participate, have transparency and decision making process as well as in the areas of trade. LDCs are essentially small economies. So, we think an LDC should make efforts to mainstream trade policy into its national development policy. The domestic markets are not enough to maintain basic demand so they need external demand too. For this, they need access in the international market. Special concessions given by the advanced countries for the LDCs will be crucial. It should be the heart of what we call early harvest for Doha negotiation.</span></div>
<div style="text-align: justify;">
	<span style="font-size:12px;"><br />
	<br />
	</span></div>
<div style="text-align: justify;">
	<span style="font-size:12px;"><strong>What can Nepal learn from the experience of other developing countries?<br />
	<br />
	</strong></span></div>
<div style="text-align: justify;">
	<span style="font-size:12px;">First of all, development governance is very important. If you look at countries like Malaysia and Korea, these developing countries have actually showed the way for industrialisation process where the government has been taking the lead. They support industrial zones, put up investment policy that attract foreign direct investment (FDI) in technology related areas and create trade infrastructure in terms of ports, transportation facilities and trading firms. For example, they have trading firms that help promote the products in foreign countries. Nepal can also learn from their monetary policy that is customer focal. In the area of tourism, Nepal is doing well but it can certainly do better. More investment is required to attract tourists but it is important at the same time, to keep the negative effect of tourism under control.</span></div>
<div style="text-align: justify;">
	<span style="font-size:12px;"><br />
	<br />
	</span></div>
<div style="text-align: justify;">
	<span style="font-size:12px;"><strong>Despite having ample resources, poor countries have extremely low economic growth. Could you highlight the key issues where LDCs like Nepal fail in formulating trade and economic policies?<br />
	<br />
	</strong></span></div>
<div style="text-align: justify;">
	<span style="font-size:12px;">I am not clear about Nepal but many LDCs have remained too dependent on few commodities. They have also failed most of the time to pursue positive development. This is an area in which it needs investment from the government sector for extended service, irrigation projects, water management and to build roads in the rural areas.&nbsp;The government also needs to provide support and subsidies for farmers in rural areas where they do not enjoy enough income to sustain themselves. LDCs also need to sustain in the areas of gender and women. In Africa, for example, women are the most underutilised productive capacity. In Asia, we still need legal reform that would put women rights, wage level, welfare treatment, education etc at par with men.&nbsp;LDCs can also learn from countries that have performed well in domestic resource mobilisation because one has to develop the domestic financial market. The banking system must be solid and it needs prudential supervision by the government so that more savings can be mobilised. You can have more resources here in Nepal itself and you don't have to be totally dependent on foreign aid.</span></div>
<div style="text-align: justify;">
	<span style="font-size:12px;"><br />
	<br />
	</span></div>
<div style="text-align: justify;">
	<span style="font-size:12px;"><strong>You have been part of the Thai Government in the past. What should be the agenda of LDC governments on the level of policy making and implementation, to increase the export trade volume?<br />
	<br />
	</strong></span></div>
<div style="text-align: justify;">
	<span style="font-size:12px;">The LDCs will have to invest in capacity to produce, to begin with. For example, if you have some food products, you may need to process food products as well in order to add value. Similarly, if you have some minerals, then you should think of investing in the processing of minerals. In Thailand we invested in canning of tuna fish which has been doing exceedingly well. We used to produce automobile spare parts to begin with but gradually we started producing automobiles on our own. So, you have to start from somewhere and try to move up the ladder all the time. I would recommend that LDCs having niche in certain areas have to keep adding value. Importance of technology is one lesson we have learnt in Thailand. Innovation and technology depends on the quality of education. Education must be guided in a way that would promote research. In Thailand, university professors and academics are encouraged to conduct more research and innovate. Foreign companies are also being attracted to the country to learn technology from. </span></div>
<div style="text-align: justify;">
	<span style="font-size:12px;"><br />
	<br />
	</span></div>
<div style="text-align: justify;">
	<span style="font-size:12px;"><strong>LDCS are largely dependent on donors and face heavy foreign debt. They also lack fundamental base of stable politics and proper policy implementation. Amid such complexities, how can countries move on the right path of development and poverty reduction?<br />
	<br />
	</strong></span></div>
<div style="text-align: justify;">
	<span style="font-size:12px;">Well, I think these are more controversial issues than the development policies. You must have growth to be able to have social investment and welfare but, of course, a loan is not enough. In order to transfer growth into social development, you probably need a policy on socio protection and inclusive development. It means that you would have to try to spread growth throughout the country. You need growth to be well distributed and not concentrated in certain areas only. It means decentralisation. You need to decentralise the authorities of the government and the investment activities. Investment has to be made into rural network of roads and means of transportation. Both skilled and unskilled people need help as well. If you look at the informal sector particularly, there are a lot of people being underpaid. You have to be able to initiate social programmes that would help guarantee employment. The employment guarantee programme in India could be one shining example. I feel that such programmes help support rural families. I also like the Bolsa Familia programme in Brazil where government financial support is given to families on condition that children must attend school until secondary education. These are some of the obvious measures that are needed to produce the impact from economic growth for social welfare. </span></div>
<div style="text-align: justify;">
	<span style="font-size:12px;"><br />
	<br />
	</span></div>
<div style="text-align: justify;">
	<span style="font-size:12px;"><strong><img align="right" alt="reduction" border="1" height="214" hspace="5" src="http://newbusinessage.com/ckfinder/userfiles/Images/interview(1).jpg" style="width: 171px; height: 214px;margin:10px;padding:10px;" vspace="5" width="171" />What should be the role of the development partners in addressing the issues of development and poverty reduction in the LDCs?<br />
	<br />
	</strong></span></div>
<div style="text-align: justify;">
	<span style="font-size:12px;">Development partners normally provide financial means. They have a target to meet - a contribution of 0.15 to 0.2 per cent of the GNP - which has to be given to the LDCs. However, they are giving only 0.09 per cent which is too low. I think the target should be met. The development partners should work on transfer of technology. This is not in financial terms but in terms of intellectual property rights. There should be some sort of open software system that can be accessed by the LDCs so that proprietorship could be opened up for people to search. I would say, in the trade areas as per the Doha agenda, they can give concessions to the LDCs as an early harvest. They don't need to wait until the end of the round to give concessions in the form of duty- and quota-free concessions for trade facilitation and in the areas of outsourcing of services. These are some of the areas which, I believe, could be done in terms of green economy. I also expect the green fund for the LDCs or the green development mechanism to be established. Some of these arrangements would pay special attention to the roles of the LDCs and they should be granted special assistance in these funding ranges. </span></div>
<div style="text-align: justify;">
	<span style="font-size:12px;"><br />
	<br />
	</span></div>
<div style="text-align: justify;">
	<span style="font-size:12px;"><strong>How do you view the current debate on aid for trade?<br />
	<br />
	</strong></span></div>
<div style="text-align: justify;">
	<span style="font-size:12px;">Aid for trade is a good programme to mainstream trade into development. For us at UNCTAD, aid for trade means aid for trade for development. So, trade should be harnessed for serving this purpose. We have been talking about the need for more productive investment and investment in trade infrastructure, development training of skill negotiators, the need to setup the right commercial institutions and the right legal framework. You must have the legal people who understand the Trade-Related Aspects of Intellectual Property Rights (TRIPS) issues. You may also need to have the IT court. The aid for trade should also help in the areas of providing capacity to accomplish more work in environment and trade. UNCTAD believes the new areas of green economy would provide for opportunities to invest in renewable and energy products. I think â€˜aid for trade can help pave the way to support transfer of technology and training of scientists and engineers. This would also help in bringing the LDCs to new rounds of opportunities courtesy the green economy.</span></div>
<div style="text-align: justify;">
	<span style="font-size:12px;"><br />
	<br />
	</span></div>
<div style="text-align: justify;">
	<span style="font-size:12px;"><strong>In poor countries, the governments try to tread a middle path between the models of controlled economy and free economy. How do you evaluate Nepal's trade and more specifically, its economic policy?<br />
	<br />
	</strong></span></div>
<div style="text-align: justify;">
	<span style="font-size:12px;">To be fair to the government in Nepal, I am not qualified enough to emphasise on what Nepali economy should be doing. But I do see the role of the government being evolved here. I hope it will evolve in a way where there won't be too many controls. It is important for the Nepali government to be balanced in its role along with its evolving policies. The direction we would like to advise is to go into what we call development governance. This will help policies being directed at getting the development strategy right. The government should not look at market reform, competition and pricing policy only. It must have the market work so as to attract new projects that would create employment. Productive investment should be encouraged. Nepal needs a monetary policy that would mobilise more funds and keep interest rates not too high. It would mean the fiscal policy will have to be directed at needs to create the perfect infrastructure. It will also mean that the exchange rate policy needs to be flexible. And you have to have the exchange rate at a level that will be stable and will help make your products competitive.</span></div>
<div style="text-align: justify;">
	<span style="font-size:12px;"><br />
	<br />
	</span></div>
<div style="text-align: justify;">
	<span style="font-size:12px;"><strong>Questions are often raised in poor countries about the value and benefit of being WTO members. Anti-WTO activists accuse that WTO policies are pro-rich and poor countries simply can't afford to abide by WTO policies. What do you have to say?<br />
	<br />
	</strong></span></div>
<div style="text-align: justify;">
	<span style="font-size:12px;">Well, being a WTO member is not enough. It won't help a country if it doesn't work on it to make itself strong in competition. So, being a WTO member is like being presented with opportunities to take advantage of the markets around the world. Taking advantage from the market depends on domestic policies. The domestic policies must drive forward to do more work in the areas of trade infrastructure, business improvement, skills training, development of science of the exported products and standard of products that would meet international standards. The technical barriers to trade and technical standards of manufactured products are also important. You also need the right laws to take benefits from the membership of the WTO. Being the member of the WTO is not a free ride, for sure.</span></div>
<div style="text-align: justify;">
	<span style="font-size:12px;"><br />
	<br />
	</span></div>
<div style="text-align: justify;">
	<span style="font-size:12px;"><strong>What's the equation between UNCTAD and WTO in terms of policies?<br />
	<br />
	</strong></span></div>
<div style="text-align: justify;">
	<span style="font-size:12px;">UNCTAD and WTO follow similar policies and support and complement each other. For instance, UNCTAD has been doing a lot of work in the area of capacity building while WTO is doing the same in the area of trade. We support the WTO in areas of trade facilitation and negotiation and trade and environment negotiation. We do the work on investment policies that WTO cannot do due to the lack of investment agreement at WTO. Being the focal point for investment policy for the UN system, we have been giving advice on investment policies to developing countries around the world. We advise them on investment agreement, investment promotion, policies etc. So, this actually complements WTO on what it cannot do. Also in the area of competition laws and consumer protection which WTO could not agree, we are providing assistance for countries to establish competition laws and consumer protection. Therefore, I think we do play a complementary role. The pace of trade liberalisation might have been a little too fast for developing countries. They may have not been able to reap benefits because they were not well prepared. The WTO also agrees now that in order to garner benefits from trade liberalisation, well preparedness and trade mainstreaming into the development process are essential. </span></div>
<div style="text-align: justify;">
	<span style="font-size:12px;"><br />
	<br />
	</span></div>
<div style="text-align: justify;">
	<span style="font-size:12px;"><strong>How would you like Nepal to take advantage from huge and growing markets on both sides of its borders?<br />
	<br />
	</strong></span></div>
<div style="text-align: justify;">
	<span style="font-size:12px;">Asia is now the growth port of the world. This is an area where growth is maintained at a very high level and quite stably. I think Nepal is situated in the right place with major countries surrounding it like India and China and South East Asia within close proximity. There should be a definite government policy to direct trade cooperation with all these countries. Such endeavours are supported by Asian Development Bank also. Cooperation is not always easy among neighbouring countries. However, you must concentrate on joint projects like transportation or regional projects taking part in joint programmes like tourism promotion etc. I think you should make use of having a deeper integration with South East Asian and North Asian countries in the region besides China and India. </span></div>
<div style="text-align: justify;">
	<span style="font-size:12px;"><br />
	<br />
	</span></div>
<div style="text-align: justify;">
	<span style="font-size:12px;"><strong>Will it be sustainable for LDCs to look for export trade only?<br />
	<br />
	</strong></span></div>
<div style="text-align: justify;">
	<span style="font-size:12px;">No. Sustainability is more than just export trade. It means you must have social equality, look after ecology and environment and invest in forestation to keep forests alive and growing. You have to invest in water management and human resources that will make for sustainable development. Therefore, it's not only export trade that would drive you. You must have a combination of inclusive policies that would shape the benefits of growth and trade equally. </span></div>
<div style="text-align: justify;">
	<span style="font-size:12px;"><br />
	<br />
	</span></div>',
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			'description' => 'Dr Supachai Panitchpakdi  is the Secretary-General of the UN Conference on Trade and Development (UNCTAD), a post he first took up in September 2005. Prior to this, he was the Director-General of the World Trade Organisation (WTO). A PhD in Economic Planning and.....',
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		'Article' => array(
			'id' => '296',
			'article_category_id' => '48',
			'title' => 'Truly Fighting Spirit',
			'sub_title' => '',
			'summary' => null,
			'content' => '<div style="margin-bottom: 0.0001pt; text-align: justify; line-height: 120%; vertical-align: middle;">
	<span style="color: rgb(255, 140, 0);"><i><span style="font-size: 8pt; line-height: 120%;"><img align="left" alt="madan" border="2" height="146" hspace="2" src="http://newbusinessage.com/ckfinder/userfiles/Images/img(4).jpg" style="width: 121px; height: 146px;margin:10px;padding:10px;" vspace="1" width="121" />By Madan Lamsal<br />
	<br />
	<br />
	</span></i></span></div>
<div style="margin-bottom: 0.0001pt; text-align: justify; vertical-align: middle;">
	<span style="font-size: 14px;">T</span><span style="font-size: 9.5pt;">he FNCCI has elected a new President. The election this time was quite historic as it was fought not only in democratic spirit but it had all killing spirits between the contesting panels. It took many years to achieve this grandeur of fighting spirit that got literally demonstrated beyond ballot. It was but natural for the FNCCI electorates to be inspired by the fights surrounding all around them.<br />
	<br />
	<br />
	</span></div>
<div style="margin-bottom: 0.0001pt; text-align: justify; text-indent: 14.15pt; line-height: 11pt; vertical-align: middle;">
	<span style="font-size: 9.5pt;">The political leaders of the same party and those supposedly following the same principle, if any they have, are fighting cats and dogs. The trade unions are not only fighting with their employers but also between the factions in themselves. A few revolutionary parties have also waged a diplomatic war throwing shoes and pelting stones to some foreign diplomats. Some horrible, oooch! honourable Members of the revered Constituent Assembly(CA) who tried to write constitutional provisions in Red Passports are now fighting legal battles. All apart, the largest party in the CA is more inclined to fight than to write the constitution. To cut it short, there is fight in every spectrum of national life and how can one expect only the business community not to breathe the air from national atmosphere and remain shy of fighting.<br />
	<br />
	<br />
	</span></div>
<div style="margin-bottom: 0.0001pt; text-align: justify; text-indent: 14.15pt; line-height: 11pt; vertical-align: middle;">
	 </div>
<div style="margin-bottom: 0.0001pt; text-align: justify; text-indent: 14.15pt; line-height: 11pt; vertical-align: middle;">
	<span style="font-size: 9.5pt;"><img align="left" alt="nolaughingmatter" border="1" height="267" hspace="5" src="http://newbusinessage.com/ckfinder/userfiles/Images/no laugh(2).jpg" style="width: 292px; height: 267px;margin:10px;padding:10px;" vspace="5" width="292" />In fact, the body fight was the only thing left to make the FNCCI an institution compatible to our true national character. Everybody else in the society raised their fists and waved their legs to kick somebody from home or office but not the chamber members. This was the only gap left in the respectable members of apex chamber of the country to qualify as the national heroes. Now the brave brothers of business fraternity have done the job professionally making everybody feel proud about it. Thus it has been established now that private sectorsâ€™ leaders are not differently able or mentally retarded but physically capable and mentally sharp. Not to mention a special ability of the business community to be absolutely spendthrift when chips are actually down. This election was the latest testimony to it.&nbsp;To remind, there was a fight to finish spirit in the money game as well.</span></div>
<div style="margin-bottom: 0.0001pt; text-align: justify; text-indent: 14.15pt; line-height: 11pt; vertical-align: middle;">
	<br />
	<br />
	 </div>
<div style="margin-bottom: 0.0001pt; text-align: justify; text-indent: 14.15pt; line-height: 11pt; vertical-align: middle;">
	<span style="font-size: 9.5pt;">&nbsp;The exposition of this purely new quality amongst the business leaders, the true spirit of fighting among others, now ensures high pace of economic growth and prosperity of the nation. The country had remained poor so long only because our business community loathed the fight. Now they are on board and hopes for economic revolution are as high as ever before. Let's take a cue ! The political revolution was possible due to the fact that the politicians always fought like dogs among themselves. If Nepal wants economic revolution as well then the businessmen should also fight like the politicians. Apparently, now on, the Nepali business community will continue to learn from Nepali politics.</span></div>
<div style="margin-bottom: 0.0001pt; text-align: justify; text-indent: 14.15pt; line-height: 11pt; vertical-align: middle;">
	<br />
	<br />
	 </div>
<div>
	<span style="font-size: 9.5pt; line-height: 115%;">The revival of the fighting spirit and money mixing in ballots are indeed great achievements in this direction. Now, the fighting spirit, like in politics, should be able to kill all other spirits like democratic, nationalistic or ethical spirits to name a few. This only will make FNCCI an institution of repute and dignity that suits to twenty-first century national umbrella chamber.<br />
	<br />
	<br />
	</span></div>',
			'published' => true,
			'created' => '2011-05-31',
			'modified' => '2012-09-16',
			'keywords' => '',
			'description' => 'The FNCCI has elected a new President. The election this time was quite historic as it was fought not only in democratic spirit but it had all killing spirits between the contesting panels.',
			'sortorder' => '222',
			'image' => null,
			'article_date' => '0000-00-00 00:00:00',
			'homepage' => false,
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	),
	(int) 9 => array(
		'Article' => array(
			'id' => '295',
			'article_category_id' => '52',
			'title' => 'The White Paper Hoax',
			'sub_title' => '',
			'summary' => null,
			'content' => '<div style="text-indent: 0in; text-align: justify;">
	<span style="font-size: 16px;"><img align="left" alt="fromtheeditor" border="1" height="279" hspace="10" src="http://newbusinessage.com/ckfinder/userfiles/Images/img(3).jpg" style="width: 214px; height: 279px;margin:10px;padding:10px;" vspace="10" width="214" />A</span>fter failing to bring in a supplementary budget as planned, the lame-duck Jhala Nath Khanal government on 12th April issued a so called White Paper, primarily to placate the senior partner in the coalition government the UCPN - Maoists. At the first place, the issuance of such policy paper was an untimely and unnecessary exercise. Only a few days earlier Deputy Prime Minister Bharat Mohan Adhikari had announced an energy crisis management plan in the legislature parliament. If anything the government had to add on, that could have been incorporated in that speech. But, Adhikari chose to organise a separate media event in his own ministry to elaborate the priorities of the government through this White Paper.</div>
<div style="text-indent: 0in; text-align: justify;">
	<br />
	 </div>
<div style="text-align: justify;">
	<span style="letter-spacing: 0.1pt;">Effectively, the paper hardly contained anything new, thus defeating the very purpose of it. Like the earlier government, Adhikari also emphasised on sticking to the so called&nbsp;three pillar private, co-operatives and public pillars concept of the economy, which for all practical purposes is nothing more than verbose. In essence, cooperative is a private sector exercise. And public sector participating with other sectors private or cooperatives is an absolute anti-thesis to economic progress. The state must not be a partnerâ to a party who does the business. Therefore, re-emphasising on this obsolete platitude of partnership is absolute nonsense. </span></div>
<div style="text-align: justify;">
	<br />
	 </div>
<div style="text-align: justify;">
	Second, the very intent was redoubtable and the procedures adopted were questionable. The hidden agenda of the White Paper was to ignite pork barrel spending in non-productive, politically designed programmes. Such an act was propelled by the Maoists wishful plan that&nbsp;the nearly Rs 22 billion remained idle in the government coffers could be used in the party's pet programmes.</div>
<div style="text-align: justify;">
	<br />
	 </div>
<div style="text-align: justify;">
	As regards procedures, any new government surely has moral rights to outline its policies and programmes. But, by norm either it should come as the policy speech of the new prime minister, or the government could table it in the parliament. But a deputy prime minister organising a press meet in his ministry to make the White Paper public barely matched the gravity it warranted.</div>
<div style="text-align: justify;">
	<br />
	 </div>
<div style="text-align: justify;">
	<span style="letter-spacing: -0.1pt;">The White Paper has artlessly copied several ear-friendly programmes like helping in commercialisation of the agriculture and boosting the private sector business initiatives. But the promises this paper made could be translated into actions only when the parties in the government&nbsp; the Maoists and the UML, first agree to tame their own trade unions. Interestingly, this White Paper hardly talks about the steps to address the present industrial anarchy due to irresponsible behaviour particularly of the ruling party-affiliated unions.</span></div>
<div style="text-align: justify;">
	<br />
	 </div>
<div style="text-align: justify;">
	<span style="letter-spacing: -0.1pt;">Also, it is a great irony that the White Paper instead of serving the government's intended purpose just exposed the ulterior motives of PM Khanal and his affiliates. For the economy, it simply could not leave a mark, let alone contribute positively, as it had no teeth and breath. Going deeper into Deputy PM Adhikariâ's intentions, he so deliberately skipped some of the hottest issues of the economy that needed immediate attention.</span></div>
<div style="text-align: justify;">
	<br />
	 </div>
<div style="text-align: justify;">
	Adhikari very tactfully avoided making any commitment to take action against the businesses involved in forging VAT bills. Similarly, the White Paper did not have any unequivocal position to continue to adopt a free market economy and the government limiting its role not as the market participant but just an honest referee of the game.<br />
	<br />
	 </div>',
			'published' => true,
			'created' => '2011-05-31',
			'modified' => '2012-08-28',
			'keywords' => '',
			'description' => 'After failing to bring in a supplementary budget as planned, the lame-duck Jhala Nath Khanal government on 12th April issued a so called White Paper.....',
			'sortorder' => '221',
			'image' => null,
			'article_date' => '0000-00-00 00:00:00',
			'homepage' => false,
			'breaking_news' => false,
			'main_news' => false,
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			'user_id' => '0'
		)
	),
	(int) 10 => array(
		'Article' => array(
			'id' => '294',
			'article_category_id' => '34',
			'title' => 'Manufacturing Production Index Increases',
			'sub_title' => '',
			'summary' => null,
			'content' => '<div style="text-align: justify;">
	Manufacturing Production Index in the first quarter of the current fiscal year increased by 1.23 per cent compared to the same period previous fiscal year, according to the data released recently by the Central Bureau of Statistics (CBS).<br />
	Â </div>
<div style="text-align: justify;">
	In the same period, the Manufacturing Producersâ€™ Price Index increased 8.11 per cent, show the CBS data.<br />
	Â </div>
<div style="text-align: justify;">
	The highest increase in the production was in aluminium products (42 per cent) followed by rectified liquor and garment both of which increased over 34 per cent. The largest decline was in paper (other than newsprint) which registered a whopping reduction of ovr 64 per cent. That was followed by biscuits which declined over 51 percent. Among the other decliners were beer (17 per cent), soft drinks (26 per cent), sawn wood (24 per cent) and wire and cable (16 per cent).<br />
	<br />
	Â </div>
<div style="text-align: justify;">
	Among the goods in which the price increased, the highest was in the sawn wood (132 per cent) followed by lube oil (78 per cent),&nbsp;ply wood (73 per cent) and paper excluding newsprint (72 per cent).<br />
	Â </div>
<p style="text-align: justify;">
	Among the goods in which the producersâ€™ price decreased include iron rod and billets and plastic products (21 per cent) and soap and carton boxes (26 per cent each). </p>',
			'published' => true,
			'created' => '2011-04-28',
			'modified' => '0000-00-00',
			'keywords' => '',
			'description' => 'Manufacturing Production Index in the first quarter of the current fiscal year increased by 1.23 per cent compared to the same period previous fiscal year, according to the data released recently by the Central Bureau of Statistics (CBS).',
			'sortorder' => '220',
			'image' => null,
			'article_date' => '0000-00-00 00:00:00',
			'homepage' => false,
			'breaking_news' => false,
			'main_news' => false,
			'in_scroller' => false,
			'user_id' => '0'
		)
	),
	(int) 11 => array(
		'Article' => array(
			'id' => '293',
			'article_category_id' => '34',
			'title' => 'Rs 1.5 Billion ADB Aid In Agriculture',
			'sub_title' => '',
			'summary' => null,
			'content' => '<div style="text-align: justify;">
	<img align="left" alt="" border="2" hspace="2" src="http://newbusinessage.com/ckfinder/userfiles/Images/img3.jpg" vspace="2" />Asian Development Bank (ADB) has signed an agreement with Nepal government to provide an assistance of Rs 1.447 billion to help small and medium sized farmers to enhance cash crops production under value chain concept.</div>
<p style="text-align: justify;">
	The project covers 10 districts in mid western and far western regions targeting to provide benefit to 18,700 households. The project targets to help farming in 7,500 hectares of land and produce 65,500 metric tonnes of products that is expected to be valued at US$ 301 million, according to the ADB. The project is expected to increase the income levels of the women.</p>',
			'published' => true,
			'created' => '2011-04-28',
			'modified' => '0000-00-00',
			'keywords' => '',
			'description' => 'Asian Development Bank (ADB) has signed an agreement with Nepal government to provide an assistance of Rs 1.447 billion to help small and medium sized farmers to enhance cash crops production under value chain concept.',
			'sortorder' => '219',
			'image' => null,
			'article_date' => '0000-00-00 00:00:00',
			'homepage' => false,
			'breaking_news' => false,
			'main_news' => false,
			'in_scroller' => false,
			'user_id' => '0'
		)
	),
	(int) 12 => array(
		'Article' => array(
			'id' => '292',
			'article_category_id' => '34',
			'title' => 'Digitised E-posters For Advertising',
			'sub_title' => '',
			'summary' => null,
			'content' => '<div style="text-align: justify;">
	<img align="left" alt="" border="2" hspace="2" src="http://newbusinessage.com/ckfinder/userfiles/Images/img2.jpg" style="width: 320px; height: 202px;" vspace="2" />Media Space Solution Pvt Ltd has begun using digitised e-posters as a new advertising medium. G P Adhikari, the Executive Director of the company said at its official announcement function that advertising through such technology is easy and affordable. He informed that the technology is called electronic point of purchase media (E-POM).</div>
<p style="text-align: justify;">
	According to the company, this service has started from Bhatbhateni Supermarket in Kathmandu. Four 46 inches and two 32 inches display screens have been installed at the supermarket. Currently, there are 30 different advertisements being played on the e-posters. The screens are manufactured by Viewsonic, an American company. The advertisement on these e-posters can be played through pen drives too. </p>',
			'published' => true,
			'created' => '2011-04-28',
			'modified' => '0000-00-00',
			'keywords' => '',
			'description' => 'Media Space Solution Pvt Ltd has begun using digitised e-posters as a new advertising medium. G P Adhikari, the Executive Director of the company said at its official announcement function that advertising through such technology is easy and affordable.',
			'sortorder' => '218',
			'image' => null,
			'article_date' => '0000-00-00 00:00:00',
			'homepage' => false,
			'breaking_news' => false,
			'main_news' => false,
			'in_scroller' => false,
			'user_id' => '0'
		)
	),
	(int) 13 => array(
		'Article' => array(
			'id' => '291',
			'article_category_id' => '34',
			'title' => 'Carpet Export Increases Despite Production Problems',
			'sub_title' => '',
			'summary' => null,
			'content' => '<div style="text-align: justify;">
	The export of woollen carpet increased&nbsp;16.5 per cent in the first six months of the current fiscal year compared to the same period of the last year indicating rvivial in the industry.<br />
	Â </div>
<div style="text-align: justify;">
	According to the Trade and Export Promotion Centre, 423,481 square metres of carpet worth Rs 2.37 billion was exported to different countries in the six months that ended on mid-January 2011. During the same period last year, the value of carpet export was Rs 2.03 billion.<br />
	Â </div>
<div style="text-align: justify;">
	Anup Bahadur Malla, the promoter of Kangri Carpet said the demand for Nepali carpet is growing in the international market. â€œWe have not been able to supply enough to meet the growing demand,â€ he added. He revealed that though the market is growing, the industries in Nepal have failed to respond accordingly due to the power crisis and labour problems.<br />
	Â </div>
<div style="text-align: justify;">
	â€œThough we have demand, there are no skilled labours to produce carpet,â€ he lamented. He added that the price of Nepali carpets have not increased despite the rise in demand. Nepali carpets compete with the Indian carpets which are 40 per cent cheaper. But Malla claimed that the quality of Nepali carpet is much better.<br />
	Â </div>
<p style="text-align: justify;">
	Surendra Dhakal, the Advisor of the Carpet Exporterâ€™s Association has however cautioned that though the export had increased in the first six months it has started declining after December. </p>
<p>
	Â </p>',
			'published' => true,
			'created' => '2011-04-28',
			'modified' => '0000-00-00',
			'keywords' => '',
			'description' => 'The export of woollen carpet increased 16.5 per cent in the first six months of the current fiscal year compared to the same period of the last year indicating rvivial in the industry.',
			'sortorder' => '217',
			'image' => null,
			'article_date' => '0000-00-00 00:00:00',
			'homepage' => false,
			'breaking_news' => false,
			'main_news' => false,
			'in_scroller' => false,
			'user_id' => '0'
		)
	),
	(int) 14 => array(
		'Article' => array(
			'id' => '290',
			'article_category_id' => '34',
			'title' => 'Banks Register Increase In Returns And Capital Fund',
			'sub_title' => '',
			'summary' => null,
			'content' => '<div style="text-align: justify;">
	Commercial banksâ€™ average return has increased by 2 per cent over the last one year. This is shown by the unaudited report of 30 banks for the second quarter of the current fiscal year.<br />
	Â </div>
<div style="text-align: justify;">
	Average return of the banks in second quarter of the last year was 9.46 per cent while this year, it is 11.44 per cent. Shovan Dev Panta, the CEO of Lumbini Bank said the average return increased as there was progress in the repayment of bad loans. â€œHowever with the increase in cost of fund, the returns have not increased as expected,â€ he added. Cost of fund that was 5.43 per cent in the second quarter last year has increased to 7.86 per cent in the same period this year.<br />
	Â </div>
<div style="text-align: justify;">
	Maheswor Lal Shrestha, the Management Coordinator of Nepal Bank Limited said it is positive to have increasing returns for banks in the current difficult situation. â€œBut along with the return, cost of fund has also increased which is not a good sign,â€ he said. He cites the increase in interest rate for deposits as the main reason behind the rise in cost of fund. â€œThis would also increase the rate of interest in loans which will eventually affect investment and consumption,â€ he explained.<br />
	Â </div>
<p style="text-align: justify;">
	According to the report, all banksâ€™ average returns have increased. Compared to the second quarter of last fiscal year, bankâ€™s capital adequacy has increased to 15.7 per cent of the risk-weighted assets.&nbsp;This was 10.4 per cent in the same period last year.</p>',
			'published' => true,
			'created' => '2011-04-28',
			'modified' => '0000-00-00',
			'keywords' => '',
			'description' => 'Commercial banksâ€™ average return has increased by 2 per cent over the last one year. This is shown by the unaudited report of 30 banks for the second quarter of the current fiscal year.',
			'sortorder' => '216',
			'image' => null,
			'article_date' => '0000-00-00 00:00:00',
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			'breaking_news' => false,
			'main_news' => false,
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			'user_id' => '0'
		)
	)
)
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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