Right Gears For Strategic Achievement

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No Laughing Matter

The Sweet Rewards of Power

By Madan Lamsal

. . .
read more »

NEPSE

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			'content' => '<p class="MsoNormal">
	<span style="font-size:12.0pt;line-height:115%">By Anil Neupane</span></p>
<p class="MsoNormal">
	<span style="font-size:12.0pt;line-height:115%">&nbsp;</span></p>
<p class="MsoNormal">
	<span style="font-size:12.0pt;line-height:115%">Global business environment is changing rapidly with decentralization, smaller profit margin, need to react quickly to the changing market demands and increasing importance of service. In order to survive or improve in this aggressive environment, organizations tend to implement different approaches of Outsourcing, Business Intelligence (BI), Supply Chain Management (SCM) and Customer Relationship Management (CRM) systems. But despite these efforts, every organization does not succeed to meet the strategic goals. </span></p>
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	<span style="font-size:12.0pt;line-height:115%">&nbsp;</span></p>
<p class="MsoNormal">
	<span style="font-size:12.0pt;line-height:115%">&nbsp; </span><strong><span style="font-size: 12pt; line-height: 115%;">Approaches used<br />
	</span></strong></p>
<p class="MsoNormal">
	<span style="font-size:12.0pt;line-height:115%">Traditionally outsourcing has been considered as the best approach for cost-saving. But this approach does not always support companies to meet their strategic outcomes. A survey conducted by Deloitte Consulting, among 25 of the world's largest organizations across eight sectors with extensive outsourcing experiences and multivendor relationships, revealed that 70% of participants identified cost savings</span><span style="font-size:12.0pt;line-height:115%;mso-ascii-font-family:
Calibri;mso-hansi-font-family:Calibri;mso-bidi-font-family:Calibri"> as the major driver of the outsourcing decision. However, opposing to th</span><span style="font-size:12.0pt;line-height:115%">e optimistic interpretation of outsourcing by vendors and the marketplace, they later realized that outsourcing is a complex process and the anticipated benefits often fail to materialize. Instead of simplifying operation, there may be complexities due to outsourcing.&nbsp;Also the costs may increase and the value chain may experience some friction requiring more senior management attention and deeper management skills than anticipated. However, outsourcing allows organizations to transfer financial and operational risk to vendors. But organizations are discovering that their contracts will never fully protect them against customer damage and business losses caused by service disruption. </span></p>
<p class="MsoNormal">
	<span style="font-size:12.0pt;line-height:115%">&nbsp; <br />
	</span></p>
<p class="MsoNormal">
	<span style="font-size:12.0pt;line-height:115%">Company should focus on outsourcing in its operational areas and handle their core areas on their own. By doing this outsourcing facilitates a company focus on its core business by having operations carried out by an external expert. Freed from devoting energy to areas that are not in its expertise, the company can focus its resources to meet its core customer needs.<br />
	<br />
	</span></p>
<p class="MsoNormal">
	<span style="font-size:12.0pt;line-height:115%">One of the major factors for a successful outsourcing is to have a clear strategic plan and vision. Moving along this path of clear plan and vision, a company can meet the strategic goals. As the survey report of Deloitte Consulting suggested, in order for meeting the strategic outcomes with minimal risks, companies should outsource only commodity functions to guard against a loss of knowledge instead of looking for differentiated growth solutions. As the report suggests, companies should avoid outsourcing solely on cost savings and should plan for short-term outsourcing to prevent vendor dependency. In the long run, organizations that continue to outsource will experience a loss of bargaining power to vendors as the supply side consolidates. <br />
	<br />
	<br />
	Those that apply strong skills in deal structuring, risk management and strong management skills to oversee deals from inception to execution will be best positioned to reap the benefits of outsourcing. Outsourcing will still remain a useful solution within the conservative context of five models: Centralize-Standardize-Outsource Transform-Operate-Transfer, Commodities Outsourcing, Risk Transfer (Insurance</span><span style="font-size:12.0pt;line-height:115%;mso-ascii-font-family:Calibri;
mso-hansi-font-family:Calibri;mso-bidi-font-family:Calibri">), and Shifting Fixed Costs to Variable Costs. In case of curr</span><span style="font-size:
12.0pt;line-height:115%">ent market situation, it has been found that outsourcing frequently fails to deliver its promise. In this case, it is suggested that the world’s largest companies should be able to replicate the vendor’s structural advantages in-house and rely on vendors only under specific circumstances. To meet the strategic outcomes from outsourcing, companies should move from an ad hoc outsourcing approach to a strategic multisourcing. </span></p>
<p class="MsoNormal">
	<strong><span style="font-size:12.0pt;line-height:115%"><br />
	</span></strong></p>
<p class="MsoNormal">
	<strong><span style="font-size:12.0pt;line-height:115%">Business Intelligence</span></strong></p>
<p class="MsoNormal">
	<span style="font-size:12.0pt;line-height:115%">Timely access to relevant information for right decision making has been critical for business success. However it has been very challenging for organizations to retrieve the right information from the huge amount of data collected as a result of diverse new data collecting technologies. Many companies have a gap between their strategy and operations as a failure to retrieve right information from their data. Unless they retrieve right information to realize this gap, it is not possible for them to come up with expected strategic outcomes. By providing right information at right time, business intelligence can help organizations to find out the gap between their strategy and operations following which they can change the strategy as per the operation or vice versa. Today’s business environment has frightening situation where 77% of managers do not have sufficient information and tend to make wrong decisions. Many companies strategies are found to be disconnected from the operations and decisions made at operations level are without context. This scary situation was depicted by a survey conducted by the Economist Intelligence Unit (EIU) which revealed that less than one in ten corporate executives believe they have the right information needed to make critical business decisions.&nbsp;No matter how promising the company strategy is, how can the right strategic outcome be met with this level of accessibility to right information for decision making? <br />
	<br />
	</span></p>
<p class="MsoNormal">
	<span style="font-size:12.0pt;line-height:115%">Mark Giles has emphasised on the Enterprise Data Warehouse (EDW) which, as he has defined, is a data warehouse concept that enables organizations create and operate a data warehouse in an enterprise-wide environment. Some of the major features of EDW are: a. Enable strategic analysis and operational reporting, b. Enable business to report real time, c. Integrate heterogeneous systems and d. facilitate the design time as well as runtime of business intelligence (BI) models and processes. In comparison to the traditional business intelligence systems which are accessible to some specific person such as manager, system analysts etc, EDW is something that is to be accessible to all levels of employees. Through this concept of information accessibility across the organizations, the employees at operational level can make right decisions to ensure the expected strategic outcome. Also since EDW facilitates the design and runtime of BI models and processes, organizations can simulate the processes earlier thereby reducing risks of failure which might happen in the real business scenario and support to meet expected strategic outcomes. </span></p>
<p>
	<span style="font-size:12.0pt;line-height:115%">&nbsp;</span></p>
<p class="MsoNormal">
	<strong><span style="font-size:12.0pt;line-height:115%">Supply Chain Management</span></strong></p>
<p class="MsoNormal">
	<strong><span style="font-size:12.0pt;line-height:115%">&nbsp;</span></strong></p>
<p class="MsoNormal">
	<span style="font-size:12.0pt;line-height:115%">In today’s rapid globalized business environment, companies have been highly dependent on outsourced manufacturing partners in order to reduce cost. However in addition to the reduction of the cost, the overall system has become very complex and therefore the importance of an effective supply chain management is increasing day by day. Unlike the earlier trends of producing goods on site, the goods are produced in remote areas and transported to other places for sales or reprocessing. </span></p>
<p>
	<span style="font-size:12.0pt;line-height:115%">&nbsp;</span></p>
<p class="MsoNormal">
	<span style="font-size:12.0pt;line-height:115%">The traditional approach of supply chain network does not match with the current speedy business environment and a new approach is needed to achieve expected strategic outcomes. Stefan Theis &amp; Howells have suggested adaptive supply chain </span><span style="font-size:12.0pt;line-height:115%;mso-ascii-font-family:
Calibri;mso-hansi-font-family:Calibri;mso-bidi-font-family:Calibri">as an effective supply chain network adapting a strategic approach to overcome the existing challenges in the supply chain network.</span><span style="font-size:
12.0pt;line-height:115%"> Because of globalization and outsourcing, the network-wide visibility and collaboration have become challenging. To overcome these challenges, he focuses on supply chain collaboration which consists of a. Understanding customer demand, b. Including suppliers in the network, c. Enabling visibility into outsourcing partners and d. Extending visibility to carriers . </span></p>
<p>
	<span style="font-size:12.0pt;line-height:115%">&nbsp;</span></p>
<p class="MsoNormal">
	<span style="font-size:12.0pt;line-height:115%">Tracking and Tracing</span><span style="font-size:12.0pt;line-height:115%;mso-ascii-font-family:
Calibri;mso-hansi-font-family:Calibri;mso-bidi-font-family:Calibri"> is a key enabler to achieve adaptive supply chain network which in turn can enable visibility into and responsiv</span><span style="font-size:12.0pt;line-height:
115%">eness to all supply chain events. Enabling real-time demand visibility, collaboration, and analytics to manage and mitigate risk are the major objectives of adaptive supply chain which can in turn ensure meeting the strategic goals of the companies. It is essential to have right supply chain strategy to come up with right strategic outcomes. For instance, strategies like Supply-to-stock and Supply-to-order. If supply-to-stock strategy is applied for products that are meant to be supply-to-order, then the possibility of right strategic outcome is very low.&nbsp;The technology plays crucial role for business partners integration. For instance, business intelligence systems can play a vital role to analyze the trends of customers needs and plan accordingly. It is essential for companies with strategic fit, i.e. both supply chain and competitive strategy have higher likelihood of having expected strategic outcome from their strategy. To achieve this strategic fit, some of the requisites he has suggested are: a. Understanding the customer, b. Understanding supply chain tradeoffs and c. Matching supply chain responsiveness with the implied demand uncertainty. With this combination of right strategy, strategy fit with strong support of technology at the back end can ensure organizations meet their strategic outcomes. </span></p>
<p>
	<span style="font-size:12.0pt;line-height:115%">&nbsp;</span></p>
<p class="MsoNormal">
	<strong><span style="font-size:12.0pt;line-height:115%">Customer Relationship Management</span></strong></p>
<p class="MsoNormal">
	<strong><span style="font-size:12.0pt;line-height:115%">&nbsp;</span></strong></p>
<p class="MsoNormal">
	<span style="font-size:12.0pt;line-height:115%">There have been numerous failures of implementing effective CRM systems. Companies should have strategic procedures to achieve strategic outcomes from their CRM systems. Properties of an effective CRM system which highly ensure the strategic outcome are:&nbsp;a. Simplicity drives adoption and productivity, b. Flexibility provides choice and adaptability and c. Comprehensive breadth of capabilities and innovation. </span></p>
<p>
	<span style="font-size:12.0pt;line-height:115%">&nbsp;</span></p>
<p class="MsoNormal">
	<span style="font-size:12.0pt;line-height:115%">There are numerous challenges to meet strategic goals through traditional CRM systems due to their inability to support high complexity of today’s global business environment. To get expected strategic outcomes from CRM systems, companies should focus on standardizing their sales processes, integrating their data and be flexible and responsive to their environment. Properly implemented and maintained CRM systems can help organizations meet their strategic goals by reducing or avoiding cost, increasing productivity and retaining higher customer satisfaction. A customer centric CRM system gives a full view of customers to help companies improve their efficiency thereby coming up with better customer service. For multinational companies, different complexities such as different processes in the subsidiary’s region, lack of integration in many processes and multiple CRM instances can further hinder the achievement of their strategic goals. Companies can overcome these complexities and meet their strategic goals with right implementation of the CRM systems by forming a globally consistent process, integrating processes across sales, marketing, contact centers and partners and by having single logical instance of multiple systems. </span></p>
<p>
	<span style="font-size:12.0pt;line-height:115%">&nbsp;</span></p>
<p class="MsoNormal">
	<strong><span style="font-size:12.0pt;line-height:115%">2+2 not necessarily 4</span></strong></p>
<p class="MsoNormal">
	<strong><span style="font-size:12.0pt;line-height:115%">&nbsp;</span></strong></p>
<p class="MsoNormal">
	<span style="font-size:12.0pt;line-height:115%">The four business areas, Outsourcing, Business Intelligence, Supply Chain Management, and Customer Relationship Management are very crucial for organizations to meet their strategic goals. However, these business areas by themselves do not assure the achievement of business strategic goals unless they are properly implemented. Though these business areas have their distinctive contribution to achieve the organizational strategic goals, they are not in fact independent of each other. These are closely interlinked with each other and proper coordination of these facets can actually result in meeting strategic goals efficiently. For this, an efficient or a combination of few ERP systems with all these functionalities can be deployed to support business processes and help meet the organizational strategic goals. After implementation, it is equally important to review these systems in context of changing business environment to ensure the system is as per the market need. </span></p>
<p>
	 </p>
<p>
	<strong><span style="font-size:12.0pt;line-height:115%">(Neupane is a SAP global certified consultant currently working in London. He can be reached at neupane_anil@hotmail.com)</span><br />
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<p class="ANSWER" style="text-align: justify;">
	<span class="MyriadPro"><span calibri="" lang="EN-GB" letter-spacing:="" sans-serif="">Sujit Mundul, CEO and Director, Standard Chartered Bank (SCB) Nepal, started his career as a lecturer in Organic Chemistry but switched over to banking as he joined SCB as a junior officer in the seventies. Mundul moved on through various relationship roles in Corporate/Institutional Banking including Credit and Audit functions.&nbsp; He also worked in SCB - London in Credit Management for about a year on secondment. He became Head - Corporate Banking, South India and Regional Head - Sales, for Eastern India before joining SCB Nepal as the CEO and Director. Mundul spoke to <i>Nubiz</i> on a wide range of issues on banking and finance. Excerpts:</span></span></p>
<p class="ANSWER" style="text-align: justify;">
	 </p>
<p class="questionsforinterview" style="text-align: justify;">
	<span style="font-size:12px;"><strong><span class="MyriadPro"><span lang="EN-GB" style="letter-spacing: 0pt;">You have substantially increased the interest on savings, from 2-5% a few years back to 6.5% now. Is there still cash crunch? <br />
	</span></span></strong></span></p>
<p class="ANSWER" style="text-align: justify;">
	<span style="font-size:12px;"><span class="MyriadPro">To answer this question, we need to set the perspective right why SCB Nepal has increased its interest rate. Till one year back, the market never experienced that kind of interest rate because of many reasons. One of the major reasons is that remittance was less. That is coming in abundance now. But for good reason or bad, the market started feeling the tightness. As a result, some stress in liquidity was felt. To be very honest, SCB Nepal never faced a liquidity strain, we have always been adequately liquid.&nbsp; In fact, we had been the lenders in the inter-bank throughout the crisis period. Now, in order to build the deposit base, we decided to increase our interest rates because the market dynamics have changed. The market has slightly shifted gears from low to high interest rate environment. As we are also one of the key players in the market, we need to keep up with the market rates. That's the reason why we have increased the interest rate. Though the increase in interest rate is not that significant; we have already started seeing good positive response from the market.</span></span></p>
<p class="ANSWER" style="text-align: justify;">
	<span style="font-size:12px;"><span><span class="MyriadPro"><br />
	</span></span></span></p>
<p class="questionsforinterview">
	<span style="font-size:12px;"><strong><span class="MyriadPro"><span lang="EN-GB" style="letter-spacing: 0pt;">SCB Nepal is known for quality banking. But competition actually has become tough. How do you view the growth of Nepali financial sector?</span></span></strong></span></p>
<p class="ANSWER" style="text-align: justify;">
	<span style="font-size:12px;"><span class="MyriadPro"><span style="letter-spacing: 0.1pt;">It is a difficult market now. The market of Nepal has become overcrowded. It cannot accommodate so many players; that's why, the competition is a bit uneven. Customers or the depositors would love to see that wherever they put their money it should remain safe and they should get high quality service. The depositors are becoming much wiser compared to what they used to be few years back. They read papers, they also follow the economy and they can make their own judgments. That is why there is the competition and, I believe, we have been able to tackle the competition successfully.</span></span><strong><br />
	<span class="MyriadPro"> </span></strong></span></p>
<p class="ANSWER" style="text-align: justify;">
	<span style="font-size:12px;"><strong><span><span class="MyriadPro"><br />
	</span></span></strong></span></p>
<p class="questionsforinterview" style="text-align: justify;">
	<span style="font-size:12px;"><strong><span class="MyriadPro"><span lang="EN-GB" style="letter-spacing: 0pt;">You are of the few banks that also offer insurance products. How do these two products work along?</span></span></strong></span></p>
<p class="ANSWER" style="text-align: justify;">
	<span style="font-size:12px;"><span class="MyriadPro">e do not have insurance products of our own but we are co-branded with insurance. We call it bancassurance. It is very complementary with banking services. Basically, it could be used for retail banking sector. It can go very well with mortgage products. Similarly, it can go with other lending products. And it is used as one of the major products in wealth management. So we use it as a part of wealth management package. The corporate sector has also been covered by insurance. Instead of going to an ordinary agent, they can come to the bank to get their assets insured. So, these products are actually complimentary to each other.</span></span></p>
<p class="ANSWER" style="text-align: justify;">
	<span style="font-size:12px;"><span><span class="MyriadPro"><br />
	</span></span></span></p>
<p class="questionsforinterview" style="text-align: justify;">
	<span style="font-size:12px;"><strong><span class="MyriadPro"><span lang="EN-GB" style="letter-spacing: 0pt;">Securities Exchange Board of Nepal (SEBON) has recently got the Mutual Fund Regulations ratified. Your bank had shown some interest in this business in the past. How is the plan now?</span></span></strong></span></p>
<p class="ANSWER" style="text-align: justify;">
	<span style="font-size:12px;"><span class="MyriadPro"><span style="letter-spacing: 0.1pt;">To run a successful mutual fund, you need to have volume. I don't think Nepali market has yet got that volume. It will take maybe a few years to create that. For a successful mutual fund, we need to see also to the stock market. Is it equipped to handle the flow? Nepal is working with India to equip the Nepali stock market with some modern tools such as Central Depository System (CDS). Mutual Fund would be very helpful to make this market more perfect. It will not then be driven by the brokers; it will be driven by the market on its own forces. The investors can come and directly play in the market. <br />
	</span></span></span></p>
<p class="ANSWER" style="text-align: justify;">
	<span style="font-size:12px;"><span class="MyriadPro">We have a mutual fund in India under Standard Chartered. So we have the experience and I don't think there will be a problem in terms of experience or expertise.&nbsp; But we need to actually have that volume.</span></span></p>
<p class="ANSWER" style="text-align: justify;">
	<span style="font-size:12px;"><span><span class="MyriadPro"><br />
	</span></span></span></p>
<p class="questionsforinterview" style="text-align: justify;">
	<span style="font-size:12px;"><strong><span class="MyriadPro"><span lang="EN-GB" style="letter-spacing: 0pt;">How do you evaluate the current financial system of Nepal? Is it heading towards robustness?</span></span></strong></span></p>
<p class="ANSWER" style="text-align: justify;">
	<span style="font-size:12px;"><span class="MyriadPro">It is going through transformation I can say. At this stage, it is difficult to say whether it is robust or stagnant but I think the transformation is happening in the right direction. But it takes time; there are a lot of things that need to be corrected. Fundamental corrections are required. The only point here is that there are too many players so this market would definitely require consolidation. But I don't know when the momentum will come in terms of consolidation.&nbsp;</span></span></p>
<p class="ANSWER" style="text-align: justify;">
	<span style="font-size:12px;"><span><span class="MyriadPro"><br />
	</span></span></span></p>
<p class="questionsforinterview" style="text-align: justify;">
	<span style="font-size:12px;"><strong><span class="MyriadPro"><span lang="EN-GB" style="letter-spacing: 0pt;">Many banks are now trying to form a subsidiary to channel the mandatory deprived-sector lending. Do you subscribe the idea? Any plan from SCBNL along this line?</span></span></strong></span></p>
<p class="ANSWER" style="text-align: justify;">
	<span style="font-size:12px;"><span class="MyriadPro">We do not have any plan at this moment and I can't comment about other banks. However, I can tell you that this deprived-sector lending (micro finance) is definitely SCB Groups major focus area globally. And also here we are working on that.</span></span></p>
<p class="ANSWER" style="text-align: justify;">
	<span style="font-size:12px;"><span><span class="MyriadPro"><br />
	</span></span></span></p>
<p class="ANSWER" style="text-align: justify;">
	<span style="font-size:12px;"><strong><span class="MyriadPro"><span lang="EN-GB">What do you suggest to improve the financial services market in Nepal?</span></span></strong></span></p>
<p class="ANSWER" style="text-align: justify;">
	<span style="font-size:12px;"><span class="MyriadPro">The problem is uneven competition. There are many things that need to be done to make the market stronger. Firstly, we need to have tighter corporate governance; there is enough room for improvement. It is not only the regulator's responsibility; it is the responsibility of the individual players to ensure that a robust governance framework is in place. Secondly, this market needs more reforms in the sense of widening of the market and more integration with the international market. I think players should be allowed to directly interact with the international market. Thirdly, I would love to see a universally acceptable risk management model which would compensate the short-term losses caused by fundamental imbalances in the long term. Fourth, it is necessary to develop the capital market of Nepal. It helps in the long-term management of liquidity and also makes resources available to people to make short-term investments in the productive sector.</span></span></p>
<p class="ANSWER" style="text-align: justify;">
	<span style="font-size:12px;"><span><span class="MyriadPro"><br />
	</span></span></span></p>
<p class="questionsforinterview" style="text-align: justify;">
	<span style="font-size:12px;"><strong><span class="MyriadPro"><span lang="EN-GB" style="letter-spacing: 0pt;">What are the challenges and problems faced by your bank in particular and by the overall banking sector in general?</span></span></strong></span></p>
<p class="ANSWER" style="text-align: justify;">
	<span style="font-size:12px;"><span class="MyriadPro"><span style="letter-spacing: 0.2pt;">As far as our bank is concerned, we visualize the plans for next seven to ten years. I think we are well equipped to handle the challenges when they come. During crisis, we set up a very good example in the market as the only bank that lent to the market. That shows how careful we are. Our portfolio is very carefully managed. We run cautiously, we don't want to block our books and then suffer. There is problem now in the sense that the productive sector needs more credit but a lot of money is stuck in the real estate sector.</span></span><strong><br />
	<span class="MyriadPro"> </span></strong></span></p>
<p class="ANSWER" style="text-align: justify;">
	<span style="font-size:12px;"><strong><span><span class="MyriadPro"><br />
	</span></span></strong></span></p>
<p class="questionsforinterview" style="text-align: justify;">
	<span style="font-size:12px;"><strong><span class="MyriadPro"><span lang="EN-GB" style="letter-spacing: 0pt;">What is your future mission and vision for Nepal?</span></span></strong></span></p>
<p class="ANSWER" style="text-align: justify;">
	<span style="font-size:12px;"><span class="MyriadPro">We are long-term players and we would continue to be here. We'll be expanding our ventures. We have in mind some acquisition also, when the time is right. That's not completely out of the window.&nbsp; It's very much part of the game plan. <br />
	</span></span></p>
<p class="ANSWER" style="text-align: justify;">
	<span style="font-size:12px;"><span><span class="MyriadPro"><br />
	</span></span></span></p>
<p class="questionsforinterview" style="text-align: justify;">
	<span style="font-size:12px;"><strong><span class="MyriadPro"><span lang="EN-GB" style="letter-spacing: 0pt;">It is said that in Nepal, merger and acquisition will remain only in talks not in practice. What do you say?</span></span></strong></span></p>
<p class="ANSWER" style="text-align: justify;">
	<span style="font-size:12px;"><span class="MyriadPro">Unless foreign players and foreign direct investment flow into Nepal, I don't see any possibility of merger and acquisition. Its pre-requirements are political stability and supplementing policies. It is not only the matter of tax. No investor would like to buy problem paying money. Therefore, there must be a suitable labour policy in Nepal. I don't mean the facility of hire and fire. It means keeping human resource in right size and mobilizing it. After meeting all these requirements, I think we can then talk about merger and acquisition. <br />
	<br />
	</span></span></p>
<p class="ANSWER" style="text-align: justify;">
	<span style="font-size:12px;"><strong><span class="MyriadPro"><span lang="EN-GB" style="letter-spacing: 0pt;">What are your bank's recent activities on Corporate Social Responsibility?<br />
	<br />
	</span></span></strong><span class="MyriadPro"><span style="letter-spacing: 0.2pt;">We continue to focus on accseeing is believing keeping avoidable blindness in the centre point. We are very much into helping the poor schools inside and outside the valley by providing computers and creating computer laboratory and also by providing scholarships. We have helped few deserving schools in uplifting their infrastructural facilities. We are very much into the HIV-AIDS awareness and environment protection programs. As a part of our ongoing agenda, we are planting trees to maintain greenery around and are also looking at reducing the carbon requirement of our own uses. </span></span><span style="font-family: Wingdings; color: rgb(237, 28, 36); letter-spacing: 0.15pt;">&nbsp;</span></span></p>
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	<strong><span style="font-size:12px;"><span color:="" franklin="" gothic="" style="line-height: 115%;"><br />
	BRIGHT ECONOMIC FUTURE OF NEPAL</span></span></strong></p>
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	<strong><span style="font-size:12px;"><i><span color:="" letter-spacing:="" lucida="" style="line-height: 120%;">By Janardan Dev Pant<br />
	<br />
	</span></i></span></strong></p>
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	<span style="font-size:12px;"><b><span aldine401="" color:="" letter-spacing:="">N</span></b><span aldine401="" color:="" letter-spacing:="">epal's political parties and policymakers are making financial mistakes that have left the people in poverty, serious financial stress and feeling of helplessness. Nepal is experiencing immense challenges in transforming its social and business environment. Such transformation requires departure from outdated modes of providing dogmatic directions.&nbsp; Everybody is suggesting that the need of the hour is good governance, awareness about and understanding of global and national economic business environment, strategic thinking and choices, formulation and implementation of proper policies, effective communication, digitization, and management of available human talent.&nbsp; These all require an overall understanding of the fast paced changes of both the external and internal environment.</span></span></p>
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	<span style="font-size:12px;"><span aldine401="" color:="" letter-spacing:="">&nbsp;</span></span></p>
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	<span style="font-size:12px;"><span aldine401="" color:="" letter-spacing:="">We have achieved lots of good things.&nbsp; We have produced world class engineers, doctors, lawyers and bankers by liberalizing education, telecommunications and banking. Majority of them are working in the USA, Canada, UK and Australia due to the absence of right environment in Nepal. Due to this migration of talent, all the achievement made in the education sector has been useless in raising the living standards of 85 per cent Nepalis.&nbsp; Common people are undergoing extreme socio-economic hardships without hope of any immediate relief.&nbsp; This situation must not be allowed to continue.&nbsp; </span></span></p>
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	<span style="font-size:12px;"><span aldine401="" color:="" letter-spacing:="">&nbsp;</span></span></p>
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	<span style="font-size:12px;"><span aldine401="" color:="" letter-spacing:="">Nepal's market-oriented reform started in 1991 implied that those who lack the purchasing power will be marginalised.&nbsp; People without money are as good as non-existent in the sort of market economy prevailing today.&nbsp; It is the state's responsibility to take care of such citizens.&nbsp; Failure to take care of such Nepalis, who are about 85 per cent of the country's population, is the key failure of Nepal's economic liberalization.The main reason behind this failure is our inability to use our existing resources properly. That is what is forcing us to live in poverty, serious financial stress and feeling of helplessness.&nbsp; </span></span></p>
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	<span style="font-size:12px;"><span aldine401="" color:="" letter-spacing:="">&nbsp;</span></span></p>
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	<span style="font-size:12px;"><span aldine401="" color:="" letter-spacing:="">This article is about a proposal to get out of this mess and achieve growth through the use of hydropower. </span></span></p>
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	<span style="font-size:12px;"><span aldine401="" color:="" letter-spacing:="">&nbsp;</span></span></p>
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	<strong><span style="font-size: 12px;"><span color:="" franklin="" gothic="" letter-spacing:="">Setting the Goal<br />
	<br />
	</span></span></strong></p>
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	<span style="font-size:12px;"><span aldine401="" color:="" letter-spacing:="">The first step in embarking on a journey is to set a goal. Let's set the goal as:&nbsp; Nepal's per capita income US$ 2,500 by 2017 and US$ 50,000 by 2040.&nbsp; This goal is specific, measurable, achievable, realistic and time bound.&nbsp; With this goal in mind, I would like to draw a number of policy prescriptions to achieve this goal. These policies can promote investment, create jobs and wealth, and consumer spending which will give us double digit growth and eradicates poverty so that Nepal will be transformed from least developed county to developed country by 2040.</span></span></p>
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	 </p>
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	<strong><span style="font-size:12px;"><span aldine401="" color:="" letter-spacing:="">&nbsp;</span></span></strong></p>
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	<strong><span style="font-size: 12px;"><span color:="" franklin="" gothic="" letter-spacing:="">Bench Mark<br />
	<br />
	</span></span></strong></p>
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	<span style="font-size:12px;"><span aldine401="" color:="" letter-spacing:="">We must benchmark with our comparator countries to achieve best practices and gain efficiencies.&nbsp; Our core competencies are hydropower and tourism.&nbsp; The comparator countries in this respect are Bhutan and Laos. They too are landlocked, have mountainous terrain and plentiful water resources.&nbsp; But they have succeeded to produce and export large volume of hydroelectricity to their neighbors.&nbsp; We can learn many things from 1070 MW Nam Theun Hydropower Project of Laos and 1020 MW Tala Hydroelectric Project of Bhutan. We have to learn from them and achieve the above stated goal. But we have to revise and refine those models to suit our specific environment.&nbsp; For example, they are exporting power whereas we have market for power within the country itself. <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 aldine401="" color:="" letter-spacing:="">Supply creates its own demand, said the famous economist JB Say.&nbsp; He is perfectly right in his statement, at least in Nepal where the pent up demand for electricity is huge. If we start construction of various hydroelectricity projects immediately as per our model, our per capita income will reach around US $50,000 by 2040 with double digit economic growth every year.&nbsp; By that time our rate of per person electricity use will reach around 150 times from today's 70 units per head.&nbsp; As we are going to consume here in Nepal all the electric power that we are going to produce, the policy of exporting power must be stopped immediately.&nbsp; Power exporting policy will hold back our fast track economic growth.&nbsp;&nbsp;&nbsp; </span></span></p>
<p class="MsoNormal" style="margin-bottom: 0.0001pt; text-align: justify; text-indent: 14.15pt; line-height: 11pt; vertical-align: middle;">
	 </p>
<p class="MsoNormal" style="margin-bottom: 0.0001pt; text-align: justify; text-indent: 14.15pt; line-height: 11pt; vertical-align: middle;">
	<strong><span style="font-size:12px;"><span aldine401="" color:="" letter-spacing:="">&nbsp;&nbsp;&nbsp; </span></span></strong></p>
<p class="MsoNormal" style="margin: 11pt 0in 0.0001pt; vertical-align: middle;">
	<strong><span style="font-size: 12px;"><span color:="" franklin="" gothic="" letter-spacing:="">Liberalizing Hydropower</span></span></strong></p>
<p class="MsoNormal" style="margin: 11pt 0in 0.0001pt; vertical-align: middle;">
	 </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 aldine401="" color:="" letter-spacing:="">This is the time that the government needs to think about liberalizing hydropower sector, just like it liberalized banking, telecommunications and education which unleashed the banking, communication and education revolution.&nbsp; We have to rehabilitate to Nepal Electricity Authority (NEA) to match our development strategy because NEA is already a sick unit.&nbsp; We are experiencing a severe energy crisis. We are already without electricity 14 hours a day and this duration is getting longer. But with the hydropower potential we have, it does not have to be that way. Presently, peak power demand of integrated Nepal power system is around 967 MW and power supply is around 400 MW.&nbsp; The deficit can be met easily with a few projects. <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 aldine401="" color:="" letter-spacing:="">&nbsp;But the existing power purchase rates make the power projects commercially unfeasible due to high rates of interest that the banks are charging.&nbsp; Therefore, it is suggested that the power purchase rates be revised upward, immediately.&nbsp; When the market interest rates rises further, the power purchase rates should be raised accordingly. Similarly, when the interest rate cools down, the power purchase rates should be lowered accordingly. </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 aldine401="" color:="" letter-spacing:="">&nbsp;</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 aldine401="" color:="" letter-spacing:=""><br />
	</span></span></p>
<p class="MsoNormal" style="margin: 11pt 0in 0.0001pt; vertical-align: middle;">
	<strong><span style="font-size: 12px;"><span color:="" franklin="" gothic="" letter-spacing:="">Cost of Hydropower<br />
	<br />
	</span></span></strong></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 aldine401="" color:="" letter-spacing:="">The cost of hydropower is highly site specific, and depends on different factors, including hydrologic characteristics, site accessibility, and distance from transmission line.&nbsp;&nbsp; However, hydropower is the cheapest way to generate electricity in Nepal. The 456 MW Upper Tamakoshi hydropower project is estimated to cost Rs 35.29 billion, if the project is completed by FY 2014-15 as scheduled.&nbsp; That means it costs about Rs 77.39 million per MW.&nbsp; On that basis, we can say, at today's rate, a typical hydropower project in Nepal can cost somewhere between Rs 80 million and Rs 150 million per installed MW.&nbsp;&nbsp;&nbsp; </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 aldine401="" color:="" letter-spacing:="">&nbsp; </span></span></p>
<p class="MsoNormal" style="margin: 11pt 0in 0.0001pt; vertical-align: middle;">
	<strong><span style="font-size:12px;"><span color:="" franklin="" gothic="" letter-spacing:="">Means of Financing<br />
	<br />
	</span></span></strong></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 aldine401="" color:="" letter-spacing:="">One major obstacle often cited in Nepal's hydropower development is the lack of finance. But in reality, it is no big deal for us to raise the money.&nbsp; The project can be financed through a mix of debt and equity arranged through a public-private partnership.&nbsp; The people of Nepal can arrange the resources on their own to produce at least 2,360 MW of electricity if the leaders extend some help.&nbsp; <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 aldine401="" color:="" letter-spacing:="">First of all, Nepal Government has to create Nepal Development Company Limited (NDCL) as a sovereign wealth fund holding company.&nbsp; Then the government should sell 40 per cent shares it holds in the Nepal Telecommunication Company Ltd (NTC). This will yield around Rs 24 billion and that amount should be invested as the seed money of NDCL.&nbsp; With this money, NDCL can promote many subsidiary public limited companies in the same manner as Nepal Electricity Authority has promoted Chilime Hydropower Company Limited.&nbsp; The equity participation in these subsidiaries is proposed at 51% from NDCL, 25% from national or international strategic partner, 24% from the general public.&nbsp; Subsidiaries should be managed by the strategic partners so as to ensure efficiency and customer satisfaction.&nbsp; NDCL can also promote East-West Electric Railway Ltd and many North-South cable car companies in similar modality of raising the fund. <br />
	<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 aldine401="" color:="" letter-spacing:="">&nbsp;Nepal Telecom has been seeking strategic partner as it is losing 10 per cent of its profit growth every four months to the private telecom service providers.&nbsp; Nepal Telecom on its second annual general meeting held on March 29, 2010 has passed a resolution to sell minority shares to international telecommunications operator.&nbsp; But nothing has been done on this line till now. People believe that this delay is due to financial influence of other telecom service providers on our political leaders and government authorities.&nbsp; Further, it is also widely believed that if Nepal Telecom cannot bring foreign telecommunications operator through bidding as a strategic partner, Nepal Telecom too will face the same fate as that of Janakpur Cigarette Factory and Nepal Airlines Corporation.&nbsp; <br />
	<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 aldine401="" color:="" letter-spacing:="">The paid-up capital of Nepal Telecom is Rs 15 billion, of which Nepal Government holds 91.50%.&nbsp;&nbsp; If the Government can sale 40% share in Nepal Telecom through international bidding, at the rate of minimum Rs 400 per share, the proceeds will be a minimum of Rs 24 billion.&nbsp; Assuming that this Rs 24 billion will be the 25% equity from NDCL's side, and that Rs 72 billion will be available as loan from various lenders, the total funds available will be Rs 96 billion.&nbsp; This will be sufficient to set up projects to generate hydroelectricity of 960 MW, assuming, on the basis of calculations above, that Rs 100 million will be required to install one MW capacity for hydroelectricity.&nbsp;&nbsp;&nbsp; </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 aldine401="" color:="" letter-spacing:="">&nbsp;</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 aldine401="" color:="" letter-spacing:="">Similarly, Nepal Army Welfare Fund has billions in its account.&nbsp; If it invests Rs 5 billion as equity in hydropower projects, it can get 75% of the project as loan and the total available amount will be Rs 20 billion.&nbsp; This amount is sufficient to install 200 MW capacity of hydroelectricity on the same assumptions as above.Then is the Employees Provident Fund. It is no big deal for this institution to invest Rs 10 billion as equity for hydropower generation. That will attract loans to make the total fund of Rs 40 billion.&nbsp; This is sufficient for installing a generation capacity of 400 MW.&nbsp;&nbsp; <br />
	<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 aldine401="" color:="" letter-spacing:="">Then, we can easily assume that 100,000 Nepali citizens will come forward to invest Rs 200,000 per person. That will generate a total equity amount of Rs 20 billion which will attract a loan so that the total amount will be Rs 80 billion.&nbsp; From this amount, we can install a capacity of R 800 MW. The equity can be raised by issuing preferred redeemable increased dividend equity shares (PRIDES) to the general people.&nbsp; PRIDES, according to Investopedia, are securities consisting of a forward contract to purchase the issue's underlying security and an interest bearing deposit.&nbsp; Interest payments are made at regular intervals, and conversion into the underlying security is mandatory at maturity.&nbsp; PRIDES allow investors to earn stable cash flows while still participating in the capital gains of an underline stock.&nbsp; This is possible because these products are valued along the same lines as the underlying security. <br />
	<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 aldine401="" color:="" letter-spacing:="">Micro-finance institutions, Banks and Co-operatives can give loans to purchase these PRIDES issued by NDCL or its subsidiaries to the Nepalis who have low or no income. Such loan can be issued against the collateral of PRIDES.&nbsp; This will bring positive impact on distribution of benefits from national resources to the low income people.&nbsp; This will ensure that the economic development does not marginalize the poor. <br />
	<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 aldine401="" color:="" letter-spacing:="">We can get loan from various financial institutions located in Nepal, China, India or global institutions such as Agence Francaise de Development, European Investment Bank, Nordic Investment Bank etc. China's foreign exchange reserves have reached US$ 2.4 trillion making it by far the largest holder of foreign exchange reserve in the world. China was holding US$ 906 billion in US treasury bonds as of October, 2010.&nbsp; We should request China to invest some of that amount in Nepal's infrastructure development, such as hydropower. They should agree because the return will be higher in our projects.</span></span></p>
<p class="MsoNormal" style="margin-bottom: 0.0001pt; text-align: justify; text-indent: 14.15pt; line-height: 11pt; vertical-align: middle;">
	 </p>
<p class="MsoNormal" style="margin-bottom: 0.0001pt; text-align: justify; text-indent: 14.15pt; line-height: 11pt; vertical-align: middle;">
	<strong><span style="font-size:12px;"><span aldine401="" color:="" letter-spacing:="">&nbsp;</span></span></strong></p>
<p class="MsoNormal" style="margin: 11pt 0in 0.0001pt; vertical-align: middle;">
	<strong><span style="font-size: 12px;"><span color:="" franklin="" gothic="" letter-spacing:="">Infrastructure-Transmission Line<br />
	<br />
	</span></span></strong></p>
<p class="MsoNormal" style="margin: 11pt 0in 0.0001pt; vertical-align: middle;">
	 </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 aldine401="" color:="" letter-spacing:="">Hydropower development depends on the power transmission to carry the power from the power project site to the consumer. On January 5, 2007 NEA signed an MOU to construct Butwal-Gorakhpur, Duhabi-Purnia, Dhalkebar-Mujaffarpur and Anarmani-Siligudi 220 KV transmission lines for power trade between Nepal and India. But if we have to develop Nepal's hydropower and consume this within Nepal, NEA has to start constructing East-West 400 KV, North-South 132 KV, and North-South 220 KV transmission lines along the corridors of North-South major rivers, where it is feasible.&nbsp; NEA will make profit from wheeling charges received from power producers.<br />
	<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 aldine401="" color:="" letter-spacing:="">These transmission lines are essential to solve the present problem of power deficit.&nbsp; No investor will be interested to invest in power project without transmission line. Therefore, for Nepal, transmission line construction is not an option but compulsion. If NEA is not able to construct these transmission lines, the private sector can be invited to do it under Build-Own-Operate-Transfer (BOOT) contracts.&nbsp; The private sector can be allowed to operate such transmission lines for 30 years after which it has to transfer ownership to the government-owned NDCL. <br />
	<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 aldine401="" color:="" letter-spacing:="">The responsibility to distribute electricity should be given to the local government units, such as the District Development Committees or Municipalities or to the proposed federal states.&nbsp; With this arrangement, the present problem of leakage of electricity will be stopped. At present, the electricity leakage is 26 per cent according to NEA.&nbsp; </span></span></p>
<p class="MsoNormal" style="margin-bottom: 0.0001pt; text-align: justify; text-indent: 14.15pt; line-height: 11pt; vertical-align: middle;">
	 </p>
<p class="MsoNormal" style="margin-bottom: 0.0001pt; text-align: justify; text-indent: 14.15pt; line-height: 11pt; vertical-align: middle;">
	<strong><span style="font-size:12px;"><span aldine401="" color:="" letter-spacing:=""><br />
	&nbsp;</span></span></strong></p>
<p class="MsoNormal" style="margin: 11pt 0in 0.0001pt; vertical-align: middle;">
	<strong><span style="font-size: 12px;"><span color:="" franklin="" gothic="" letter-spacing:="">Market<br />
	<br />
	</span></span></strong></p>
<p class="MsoNormal" style="margin: 11pt 0in 0.0001pt; vertical-align: middle;">
	 </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 aldine401="" color:="" letter-spacing:="">The concept of supply creates its own demand is applicable in our case.&nbsp; There is scope of exponential increase in the supply of electric power in Nepal because there is also a very high scope for exponential increase in the demand for electric power.&nbsp; The data provided in the Table-1 is a conservative estimate.&nbsp; This does not include major hydropower projects initiated by NEA and foreign investors. NDCL can immediately start Construction of electric railway system such as Mechi-Mahakali, Raxaul-Hetauda-Kulekhani-Kathmandu and Kathmandu valley metro system.&nbsp; The estimated construction cost is Rs 500,000 per meter for double track railway. It goes up to Rs 1,000,000 if tunnel construction is also required. </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 aldine401="" color:="" letter-spacing:="">&nbsp;</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 aldine401="" color:="" letter-spacing:="">NDCL can also immediately start construction of cable car system from various points of east-west electric railway up to the hilly and Himalayan region to the market centres and tourist attractions including various reservoirs to be created by hydro dams.&nbsp; </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 aldine401="" color:="" letter-spacing:="">&nbsp;</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 aldine401="" color:="" letter-spacing:="">Meanwhile, we can benefit from the fast growth in the economies of our two neighbours. We share our northern border (1415 kms) with China which is not only the most populous country in the world with 1.34 billion people, but also the worlds second largest economy after the United States.&nbsp; It is the world's fastest growing major economy, with average annual growth rates of 10% for the past 30 years.&nbsp;&nbsp; China's middle class population, that has an annual income of at least US$ 17,000, has now reached more than 100 million. China's per capita income (nominal) is US$ 4,283.&nbsp; Similarly, our southern neighbor India with which we share a common border of 1,850 Kms, is the second most populous country in the world with 1.2 billion people.&nbsp; India too is one of the fastest growing economies in the world and its per capita income (nominal) is US$ 1,124.&nbsp; </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 aldine401="" color:="" letter-spacing:="">&nbsp;</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 aldine401="" color:="" letter-spacing:="">If we can attract even one per cent of the population of our two neighboring countries as tourists in Nepal, that will give tremendous economic growth to our economy as well. That requires construction of various electric train lines, international airports, cable car systems and recreational centres. Development of hydropower will help in all these. For example, water can be used for creating recreational facilities. Most importantly, if Nepal has good infrastructure, its geographical location makes it very suitable to be international financial center.</span></span></p>
<p class="MsoNormal" style="margin-bottom: 0.0001pt; text-align: justify; text-indent: 14.15pt; line-height: 11pt; vertical-align: middle;">
	 </p>
<p class="MsoNormal" style="margin-bottom: 0.0001pt; text-align: justify; text-indent: 14.15pt; line-height: 11pt; vertical-align: middle;">
	<strong><span style="font-size:12px;"><span aldine401="" color:="" letter-spacing:="">&nbsp;</span></span></strong></p>
<p class="MsoNormal" style="margin: 11pt 0in 0.0001pt; vertical-align: middle;">
	<strong><span style="font-size: 12px;"><span color:="" franklin="" gothic="" letter-spacing:="">Determined Government<br />
	<br />
	</span></span></strong></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 aldine401="" color:="" letter-spacing:="">One frequently cited problem in Nepal's development and investment is the political uncertainty. However, there are examples, such as Singapore, China and South Korea, that a determined government can build an advanced country from scratch in a short period of time. That means our politicians have to start learning.<br />
	<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 aldine401="" color:="" letter-spacing:="">Presently, our leaders or political parties are focused on the 301-game trying to make sure that they have 301 members of the Constituent Assembly on their side at any cost. That has to change. Over the past 35 years, we have seen rapid pace of technological change in our physical environment.&nbsp; Innovations such as cellular telephones, laser surgery, computers, electronic banking and new electronic trading techniques have materially affected the way people live.&nbsp; These technologies are easily transferable.&nbsp; Our politicians should keep themselves aware about these technological changes.&nbsp; That is required because the politicians should be able to optimize the use of the country's resources, promote excellence in the delivery of services and enhance competitiveness in line with our strategic visions, by keeping economic policy, institutions and bureaucracy above politics.<br />
	<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 aldine401="" color:="" letter-spacing:="">&nbsp;Politicians should be given growth challenges in numerical terms.&nbsp; They must be given a target such as 12.3 percent growth rate per annum in our gross domestic product (GDP).&nbsp; Why 12.3 per cent? Our population growth rate is 2.3 per cent per annum.&nbsp; So, we need 2.3 per cent annual rate of GDP growth to take care of population increase. Another 5 percent growth rate is required to provide increased standard of living to the people, and another 5 percent is needed to provide increased momentum in the subsequent years.&nbsp; It is an achievable target and this must be the duty of the Prime Minister to achieve this. It makes no sense to continue hiring the Chief Executive Officer of the country without giving him or her a target to achieve. <br />
	<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 aldine401="" color:="" letter-spacing:="">&nbsp;The type of economic growth that we will achieve with this model will not only eradicate poverty from Nepal in a short period of time, but will lift the country to the group of developed countries by 2040.&nbsp; </span></span></p>
<p class="MsoNormal" style="margin-bottom: 0.0001pt; text-align: justify; text-indent: 14.15pt; line-height: 11pt; vertical-align: middle;">
	 </p>
<p class="MsoNormal" style="margin-bottom: 0.0001pt; text-align: justify; text-indent: 14.15pt; line-height: 11pt; vertical-align: middle;">
	<strong><span style="font-size:12px;"><span aldine401="" color:="" letter-spacing:="">&nbsp;</span></span></strong></p>
<p class="MsoNormal">
	<strong><span style="font-size: 12px;"><span aldine401="" color:="" letter-spacing:="" style="line-height: 115%;">&nbsp;<i>(Pant is Director of Nepal Investment Bank Ltd and Chairman of Quantum Capital Ltd.&nbsp; He can be contacted at janardanpant@gmail.com)</i></span></span></strong></p>
<p class="MsoNormal">
	 </p>
<p class="MsoNormal">
	<strong><br />
	</strong></p>
<p class="MsoNormal">
	<span style="font-size:12px;"><span aldine401="" color:="" letter-spacing:="" style="line-height: 115%;"><i><br />
	</i></span></span></p>',
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			'created' => '2011-02-11',
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			'description' => 'Nepal’s political parties and policymakers are making financial mistakes that have left the people in poverty, serious financial stress and feeling of',
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<p class="MsoNormal" style="margin-bottom: 0.0001pt; line-height: 120%; vertical-align: middle;">
	<span style="color: rgb(255, 140, 0);"><strong><i><span style="font-size: 8pt; line-height: 120%; font-family: &quot;Lucida Bright&quot;,&quot;serif&quot;; letter-spacing: -0.15pt;">By Dr Rabindra Karna</span></i></strong></span></p>
<p class="BODYTEXT" style="text-indent: 0in; text-align: justify;">
	<span style="font-size: 16px;"><b><span style="letter-spacing: 0.25pt;">T</span></b></span><span style="letter-spacing: 0.25pt;">o know the role of Performance Management, itâ€™s essential to agree on the objective of management. If we collate different views of different management scientists, we can come to a consensus that the objective of management is: to achieve the intended business destination through effective, efficient and economic utilization of people, material, time, information and fund.â€ <br />
	</span></p>
<p class="BODYTEXT" style="text-align: justify;">
	It covers all four key elements â€“ job improvement, skills enhancement, task management and internal relationship. It is through the combination of these that achievement of intended destination is ensured. Thus to manage a business effectively, there must be a close link between the work planning, proceeding and review procedure because factors affecting business and people performance interact on each other. </p>
<p class="BODYTEXT" style="text-align: justify;">
	The management needs to institutionalize and demonstrate latest management techniques, approaches/principles and philosophies to synergize cumulative human endeavour. This can be achieved only through a dynamic change agent driving the change process embodying these qualities for common growth and actualization of the organisationâ€™s potentials. </p>
<p class="BODYTEXT" style="text-align: justify;">
	In the total management philosophies, there has been unanimous alignment about people resources and it is all agreed that without proper people organization blocks, it would not only be difficult but impossible to eye on any intended achievement without people engagement. Scientific management theory describes 5 key block builders of Human Organization:</p>
<p class="bullet">
	1.<span style="">&nbsp;&nbsp;&nbsp;&nbsp; </span>Work Cycle: Assignments should be specialized and set to smallest possible work cycle.</p>
<p class="bullet">
	2.<span style="">&nbsp;&nbsp;&nbsp; </span>Process: Same process be used whilst performing same task in repetition</p>
<p class="bullet">
	3.<span style="">&nbsp;&nbsp;&nbsp; </span>Leadership: Effective leadership should be demonstrated in decision making</p>
<p class="bullet">
	4.<span style="">&nbsp;&nbsp;&nbsp; </span>Uniformity: In view of equity and consistency, policies must be uniform<span style=""> </span>across the business.</p>
<p class="bullet">
	5.<span style="">&nbsp;&nbsp;&nbsp; </span>Exclusivity: Duplication of functions is widely discouraged and thus assignment exclusivity becomes a must in view of task ownership.<span style="">&nbsp;&nbsp;&nbsp;</span> </p>
<p class="BODYTEXT" style="text-align: justify;">
	<span style="letter-spacing: 0.15pt;">With the understanding that the people are important, itâ€™s obvious that we need to relate our efforts to achieve with the social perception within organization.<span style="">&nbsp; </span>Itâ€™s obvious that social behavior is learnt in the form of acceptability within a work environment and we continue to learn and adapt through comparing one another.<span style="">&nbsp; </span>Being social animals, the humans make comprehensive arrangements for living and performing with one another and managing the environment. We could perceive most social situations as a negotiation, an interview, a presentation/workshop, an attempt to leadership, etc. Organizations or their people recognise the existence of a problem when they perceive that their goals are inconsistent with one another or when discrepancies between want/desire and expectations are experienced. <br />
	</span></p>
<p class="BODYTEXT" style="text-align: justify;">
	However, to have consistency in business results as well as in peopleâ€™s productivity and social acknowledgement, we need to pay special attention to Performance Management and that requires serious attention to meet expectations or achieve desired results. </p>
<p class="BODYTEXT" style="text-align: justify;">
	<span style="letter-spacing: 0.2pt;">In the light of the above, there cannot be a disagreement, if we say that Performance Management is thus one of the most essential elements of Management and most desired to be in place for institution and/or investments. <br />
	</span></p>
<p class="BODYTEXT" style="text-align: justify;">
	<span style="letter-spacing: 0.2pt;">The article is not intended to describe the steps or process of performance management. Rather it is intended to discuss various elements and/or contributing factors of performance management in day to day work life. Various research works suggest:</span></p>
<p class="bullet" style="text-align: justify;">
	<b>1.<span style="">&nbsp;&nbsp;&nbsp;&nbsp; </span>Regular Communication at work:</b> Employees mostly show concerns pertaining to the quality and quantity of communication at work.<span style="">&nbsp; </span>Inadequate and ineffective communication results in loss of cooperation and coordination, decreased productivity, undesired pressure, increased human turnover, absenteeism, rumors etc and there wonâ€™t be any disagreement that all these have huge impact on both personal and organizational performance. Hence, it would be wise to have two way clear, effective and regular communication within the organization to attain the desired performance.</p>
<p class="bullet" style="margin-top: 2.85pt; text-align: justify;">
	<b>2.<span style="">&nbsp;&nbsp;&nbsp; </span>Build Trust:</b> It has been widely experienced in daily work life that lack of trust among the members of the work team is very damaging. HR practitioners must accept that the performance management tools should not be considered as the only HR tools. Research works suggest that HUMILITY is one of the best to generate trust within organization. Managers or HR practitioners who are ready to acknowledge mistakes have been considered as highly competent. Even mediocre people are accepted easily saying, â€œYou are trustworthy because you have courage to admit a mistakeâ€. One must be seen by other members not as a competitor but as a collaborator. Trust encourages people to focus on productivity instead of remaining suspicious for every action of Management.</p>
<p class="bullet" style="margin-top: 5.65pt; text-align: justify;">
	<b>3.<span style="">&nbsp;&nbsp;&nbsp; </span>Satisfy Customers: </b>Customer service must be improved starting from the office of the top management (e.g. Managing Director, CEO, GM etc.). Commitment must be communicated to all the levels (internal &amp; external). An awareness drive can be launched for improvement on customer service. Customers also want to feel that you value them and their business. Loyal customers market the company. This way, the customer satisfaction becomes an important key in driving performance.</p>
<p class="bullet" style="margin-top: 5.65pt; text-align: justify;">
	<b>4.<span style="">&nbsp;&nbsp;&nbsp; </span> Get Along:</b> Relationship, conflict, resentment etc. have a big negative impact on performance. Evaluate and encourage change process by allowing a fostering team spirit. Encourage discussions that lead to pointing out inconsistencies in the actions and outcomes against the agreed goals and priorities. Changes in behaviour, generating better understanding across the business, creating common goal and priority and showing concerns about one anotherâ€™s personal constraints as well as providing support in the hours of need will foster the team spirit and help building everlasting relationship.<span style="">&nbsp; </span>When the people get along, the tasks get done well and quality performance emerges automatically.</p>
<p class="bullet" style="margin-top: 5.65pt; text-align: justify;">
	<b><span style="letter-spacing: -0.15pt;">5.<span style="">&nbsp;&nbsp;&nbsp; </span>Full Attention:</span></b><span style="letter-spacing: -0.15pt;"> It would be wise to keep everyone informed of expectations from them. The people should be engaged to find solutions to troubles as well as pursuing alternates. Not just talk about open door policy, practice it. Allow people to disagree so that new ideas emerge. Adequate and/or increasing response confirms attentiveness. Listening and recognizing ideas with full involvement encourages participation. Full attention to othersâ€™ views, ideas, suggestion and communication generate energy within the team and reflects respect to each other. Most of the time, productive ideas donâ€™t get implemented due to the lack of attention. Improvement often comes from small efforts that were previously sent back without enough attention paid to them. If you encourage team to take RISK, your behaviour too must match your word so that the others in the team are confident that they are being heard with full attention. Ensure that the reminders or follow-ups about agreed move are sent in time. This will encourage participation and certainly will result in improved productivity. <br />
	</span></p>
<p class="bullet" style="text-align: justify;">
	<span style="">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </span>To conclude, research works show that performance management and performance evaluation are two different poles of the magnet.<span style="">&nbsp; </span>But both of them have the same purpose. The keys to performance are in the answers to the following questions: What is expected of us? What are we doing? What next? How are we doing? How should we be doing? When we must be doing? Why we should or must be doing?</p>
<p class="BODYTEXT">
	<span style="letter-spacing: 0.1pt;">Once, genuine answers to these are derived, Performance Management becomes integral part of our daily work life. </span></p>
<p class="BODYTEXT">
	<span style="letter-spacing: 0.1pt;">&nbsp;</span></p>
<p class="BODYTEXT" style="margin-top: 2.85pt; text-align: justify;">
	<i>(Dr Karna is Executive Chairperson, MARK Business Solutions Pvt Ltd &amp; Ad Abhyas Marketing &amp; Communications Pvt Ltd He says this article is based on various research reports and practical experiences.)</i></p>
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	<span style="font-size:14px;"><span style="font-family: times new roman,times,serif;"><span class="MyriadPro"><span style="letter-spacing: -0.05pt;"><strong><span style="color:#f00;"><em>New Comers<br />
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	<br />
	Rajiv Desraj Shrestha</strong> has joined Vijay Motors Pvt. Ltd. as General Manager. Earlier, he was Executive Manager of Dwarikaâ€™s Hotel. <br />
	<br />
	</span></span></span></span></p>
<p class="BODYTEXT" style="margin-top: 5.65pt; text-align: justify; text-indent: 0in;">
	<span style="font-size:14px;"><span style="font-family: times new roman,times,serif;"><span class="MyriadPro"><span style="letter-spacing: -0.05pt;"><strong>Laxman Khadka</strong> has joined Hotel Landmark, Pokhara as General Manager. Earlier, he was with Hotel Barahi, Pokhara at the same position. Similarly, Narahari Giri and Ashok Chalise have also joined Landmark as F &amp; B Manager and Restaurant Manager respectively. Earlier, Giri was with Bhanchhaghar Restaurant, Kathmandu as General Manager and Chalise at Hotel Himalaya as Maitre De. <br />
	<br />
	</span></span></span></span></p>
<p class="BODYTEXT" style="margin-top: 5.65pt; text-align: justify; text-indent: 0in;">
	<span style="font-size:14px;"><span style="font-family: times new roman,times,serif;"><span class="MyriadPro"><span style="letter-spacing: -0.05pt;"><strong>Rabindra Raut</strong> has joined SNV (Netherlands Development Organization) Nepal as Tea Value Chain Development Advisor. Earlier, he was with Vijay Motors Pvt Ltd as the General Manager. <br />
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	</span></span></span></span></p>
<p class="BODYTEXT" style="margin-top: 5.65pt; text-align: justify; text-indent: 0in;">
	<span style="font-size:14px;"><span style="font-family: times new roman,times,serif;"><span class="MyriadPro"><span style="letter-spacing: -0.05pt;"><strong>Upendra Napit </strong>has joined Leon Motor Pvt. Ltd. - the Sub Distributor of Mitsubishi motors for Nepal as General Manager. Earlier, he was Customer Service Manager of Padma Shree Pvt. Ltd. - the distributor of Mazda motors in Nepal. <br />
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<p class="BODYTEXT" style="margin-top: 5.65pt; text-align: justify; text-indent: 0in;">
	<span style="font-size:14px;"><span style="font-family: times new roman,times,serif;"><span class="MyriadPro"><span style="letter-spacing: -0.05pt;"><strong>Raj Kumar KC</strong> has joined Hotel Barahi, Pokhara as Operation Manager. Earlier, he was with Shangri-La Village Pokhara as F &amp; B Manager. <br />
	<br />
	</span></span></span></span></p>
<p class="BODYTEXT" style="margin-top: 5.65pt; text-align: justify; text-indent: 0in;">
	<span style="font-size:14px;"><span style="font-family: times new roman,times,serif;"><span class="MyriadPro"><span style="letter-spacing: -0.05pt;"><strong>R B Neupane </strong>has joined Shangri-La Village Pokhara as F &amp; B Manager. Earlier he was working in India. <br />
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<p align="left" class="BODYTEXT" style="margin-top: 5.65pt; text-align: left; text-indent: 0in;">
	<strong><span style="font-size:14px;"><span style="font-family: times new roman,times,serif;"><span class="MyriadPro"><i><span style="color: rgb(237, 28, 36); letter-spacing: -0.05pt;">Newcomers at Capital Merchant Banking and Finance <br />
	<br />
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<p class="BODYTEXT" style="margin-top: 5.65pt; text-align: justify; text-indent: 0in;">
	<span style="font-size:14px;"><span style="font-family: times new roman,times,serif;"><span class="MyriadPro"><span style="letter-spacing: -0.05pt;"><strong>Bikash Singh Chauhan</strong> has joined Capital Merchant Banking and Finance Ltd. (CMBFL) as the Branch Manager of Damak branch. Earlier he was Sr. Accountant (Administration &amp; Loan Department) of Kankai Bikash Bank Ltd., Jhapa. Lekhraj Poudel has joined CMBFL as&nbsp; Branch Manager of Birtamode branch. Earlier he was with Gorkha Development Bank, Damak as Loan In-charge. Krishna Prasad Luitel has joined CMBFL as Branch Manager of Itahari branch. Earlier, he was Asst. Manager in Public Development Bank, Biratnagar. <br />
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	<strong><span style="font-size:14px;"><span style="font-family: times new roman,times,serif;"><span class="MyriadPro"><i><span style="color: rgb(237, 28, 36); letter-spacing: -0.05pt;">Promotions &amp; Transfers at NIC Bank <br />
	<br />
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<p class="BODYTEXT" style="margin-top: 5.65pt; text-align: justify; text-indent: 0in;">
	<span style="font-size:14px;"><span style="font-family: times new roman,times,serif;"><span class="MyriadPro"><span style="letter-spacing: -0.05pt;"><strong>Sunil Moktan</strong> of NIC Bank has been promoted and transferred to New Baneshwor branch as Branch Manager from Operation In-charge of Satdobato branch. Rima S. Joshi has been promoted and transferred to Thamel branch as Branch Manager from Customer Service In-charge of Biratnagar branch. Kiran Bhattarai has been promoted and transferred to Maharajgunj branch as Branch Manager from Deposit Marketing Officer of Pepsi Chowk branch. Rabi Shrestha has been promoted as Branch Manager to Thankot branch from Operation In-charge of Surkhet branch. <br />
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	<strong><span style="font-size:14px;"><span style="font-family: times new roman,times,serif;"><span class="MyriadPro"><i><span style="color: rgb(237, 28, 36); letter-spacing: -0.05pt;">Promotion at Prabhu Finance Company <br />
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	<span style="font-size:14px;"><span style="font-family: times new roman,times,serif;"><span class="MyriadPro"><span style="letter-spacing: -0.05pt;"><strong>Kshitiz Shakya</strong> of Prabhu Finance Company Ltd. has been promoted as Branch Manager of New Road branch from Head of IT Department in the main branch of the company. <br />
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	<strong><span style="font-size:14px;"><span style="font-family: times new roman,times,serif;"><span class="MyriadPro"><i><span style="color: rgb(237, 28, 36); letter-spacing: -0.05pt;">Transfers at Nabil Bank<br />
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	<span style="font-size:14px;"><span style="font-family: times new roman,times,serif;"><span class="MyriadPro"><span style="letter-spacing: 0.1pt;"><strong>Sukra Bhattarai</strong> of Nabil Bank has been transferred to Gwarko branch as Branch Manager from Branch Manager of Balwari, Rupandehi branch. Neeta Rajkarnikar has been transferred to Gwarko branch as Operation In-charge from Customer Service and Clearing In-charge of Pulchowk branch. Benu Raut has been transferred to Dhapasi Branch as Branch Manager from Branch Manager of Damak branch. Maheshwor Rimal has been transferred to Sinamangal branch as Branch Manager from Operation In-charge of Pokhara branch. Mohan Kafle has been transferred to Anamnagar branch as Branch Manager from Operation In-charge of Chabahil branch. Digendra Chand has been transferred to Aattarkhel branch as Branch Manager from Senior Officer of Central Trade Operations department at the Head office of the bank.</span></span><span style="line-height: 115%;"> <br />
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<p class="ANSWER" style="text-align: justify;">
	<span style="color: rgb(165, 42, 42);"><span style="font-size: 11px;"><span lang="EN-GB" style="letter-spacing: 0.25pt;">Takeyushi SATO <i>(left in the pic)</i> and Dattatraya Joshi, Managing Director and Vice President, respectively, of Hitachi Koki India, a subsidiary of Hitachi Koki Japan, were in Nepal to officially launch their products â€“ the Hitachi power equipments through Kathmandu Power Solutions (KPS). Excerpts from a joint interview:&nbsp; </span><span style="color: rgb(255, 140, 0);"><span lang="EN-GB" style="letter-spacing: 0.15pt;"><br />
	</span></span></span></span></p>
<p class="QUESTION">
	<em><span style="color: rgb(255, 140, 0);"><span lang="EN-GB" style="letter-spacing: 0.15pt;">How is Hitachi Koki doing in India? </span></span></em></p>
<p class="ANSWER" style="text-align: justify;">
	<span lang="EN-GB" style="letter-spacing: 0.15pt;">Dattatraya Joshi: It was set up in 1996 and it has its headquarters in Bangalore.<span style="">&nbsp; </span>We are into marketing of power tools in India where we have seven branches. We have an assembly facility in Bangalore. We also import finished products of Hitachi from Japan, Malaysia, China and other places. <br />
	</span></p>
<p class="QUESTION">
	<span style="color: rgb(255, 140, 0);"><em><span lang="EN-GB" style="letter-spacing: 0.15pt;">How do you view the market of electronics in Nepal?</span></em></span></p>
<p class="ANSWER" style="text-align: justify;">
	<span lang="EN-GB" style="letter-spacing: 0.15pt;">Joshi: Before appointing KPS as our distributer, we have had a small survey on the market in Nepal. Since we have studied this market carefully, we have understood the opportunities here. We know the competitors, their strengths, strategies and weaknesses. Certainly, we are very confident about having a reasonable market share in Nepal in the coming months. <span style="color: rgb(255, 140, 0);"><em><br />
	</em></span></span></p>
<p class="QUESTION">
	<span style="color: rgb(255, 140, 0);"><em><span lang="EN-GB" style="letter-spacing: 0.15pt;">What are the features of your products?</span></em></span></p>
<p class="QUESTION" style="text-align: justify;">
	<span lang="EN-GB" style="letter-spacing: 0.15pt;">Takeyushi SATO: Our products are basically power equipments like mechanised drillers, cutters and screw drivers. Joshi will tell more on it. Joshi: Our products have unique features compared to our competitors. In Nepal, we have launched 28 products. Hitachi worldwide has 700 different models. We will introduce more products in Nepali market as per the demand and requirement.<span style="">&nbsp;</span> <br />
	</span></p>
<p class="QUESTION">
	<span style="color: rgb(255, 140, 0);"><em><span lang="EN-GB" style="letter-spacing: 0.15pt;">What prospects do you see for your products in Nepal?</span></em></span></p>
<p class="QUESTION" style="text-align: justify;">
	<span lang="EN-GB" style="letter-spacing: 0.15pt;">SATO: I see a lot of prospects here. Our products consume less electricity and have long life. They are good in quality. Joshi: Nepal is basically severe power-shortage country. Our low power consuming products will prove quite handy here. We also know that many power projects are in the pipeline. Our products are eco-friendly and are quite useful in construction works. We see a lot of opportunities here. <br />
	</span></p>
<p class="QUESTION">
	<span style="color: rgb(255, 140, 0);"><em><span lang="EN-GB" style="letter-spacing: 0.15pt;">What could be the problems and challenges in Nepal?</span></em></span></p>
<p class="QUESTION" style="text-align: justify;">
	<span lang="EN-GB" style="letter-spacing: 0.15pt;">SATO: I do not see that much challenge as our main feature will be the after sales service. Chinese or other products may not have that. <br />
	</span></p>
<p class="QUESTION" style="text-align: justify;">
	<span lang="EN-GB" style="letter-spacing: 0.15pt;">Joshi: I do not see a major challenge here. Our power tools are innovative and durable. The power tools market in Nepal is dominated by Chinese products, about which the people have the general perception that they are simply â€˜use and throwâ€™ items. We want to show the users a different path in which they will be entitled to get the qualitative after sales service as well.<span style="">&nbsp; </span>After months or years of use, the end users can go to the service provider, fix the machines and reuse them.<span style="">&nbsp;</span> <br />
	</span></p>
<p class="QUESTION">
	<span style="color: rgb(255, 140, 0);"><em><span lang="EN-GB" style="letter-spacing: 0.15pt;">What could be your market strategy in Nepal?</span></em></span></p>
<p class="ANSWER" style="text-align: justify;">
	<span lang="EN-GB" style="letter-spacing: 0.15pt;">Joshi: We will share our Indian experience and advise our distributer KPS here in creating distribution network, ensuring constant availability of our products and doing some promotional activities.<span style="">&nbsp; </span>We will formulate more marketing strategy depending upon the situation. <br />
	</span></p>
<p class="QUESTION">
	<span style="color: rgb(255, 140, 0);"><em><span lang="EN-GB" style="letter-spacing: 0.15pt;">What about market share?</span></em></span></p>
<p class="QUESTION">
	<span lang="EN-GB" style="letter-spacing: 0.15pt;">SATO: Our first target will be to achieve a two-digit market share. <br />
	</span></p>
<p class="QUESTION">
	<span style="color: rgb(255, 140, 0);"><em><span lang="EN-GB" style="letter-spacing: 0.15pt;">Who are your competitors?</span></em></span></p>
<p class="MsoNormal" style="text-align: justify;">
	<span lang="EN-GB" style="letter-spacing: 0.15pt;">SATO: Bosch, a German multinational is the market leader in Nepal in the upper segment, i.e., the branded products. The other major players are Makita (Japan) and Dewald (USA). Including Hitachi now, the competition will be among these four branded companies. We do not have competition with low priced Chinese products, as we are not targeting that particular market segment. Our focus is only on upper segment.</span> </p>',
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	<b><span aldine401="" bt="" color:="" letter-spacing:="" serif="" style="font-size: 55.5pt;"><span style="font-size: 16px;">B</span></span></b><span aldine401="" bt="" color:="" letter-spacing:="" serif="" style="font-size: 9.5pt;">ank of Kathmandu (BOK) has two distinct identities. One, it is among the few commercial banks managed entirely by Nepali professionals. Second, it is the only commercial bank with more shares in the hands of the public shareholders than with the promoters. The Bank recorded some 25 per cent increase in its net profit in the first quarter of the current fiscal year (2010/11). In the first quarter of last fiscal year (2009/10), the Bank had a net profit of Rs 120 million. In this yearâ€™s corresponding period, the Bankâ€™s net profit rose by some 40 million to cross Rs 160 million. <br />
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	<span aldine401="" bt="" color:="" letter-spacing:="" serif="" style="font-size: 9.5pt;">â€œThis time around, it was not wise to thicken the balance sheet by increasing deposits. Rather, we focused on increasing the net profit,â€ says Ajay Shrestha, Chief Executive Officer of the Bank since February 2010. â€œAggressive deposit increase would only add to the costs. Thatâ€™s why, we diverted our focus.â€ <br />
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	<span aldine401="" bt="" color:="" letter-spacing:="" serif="" style="font-size: 9.5pt;">Though Shrestha joined BOK as its CEO just one year ago, he was not a complete stranger. He was the duty of the CEO in BOK for some six years and had left it to work in another bank. It was only two years gap when he rejoined BOK in February 2010. <br />
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	<span aldine401="" bt="" color:="" letter-spacing:="" serif="" style="font-size: 9.5pt;">As of today, the total deposit of the Bank is around Rs 18 billion and the loan outstanding is around Rs 17 billion. â€œWe are observing whether the same growth in profit margin will sustain in the coming quarters as well,â€ Shrestha adds. â€œOur effort will be to gain a reasonable growth in the profitability. Overall, our balance sheet is stable.â€ <br />
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	<span aldine401="" bt="" color:="" letter-spacing:="" serif="" style="font-size: 9.5pt;">BOK started operation in March 1995 as a joint venture with the Siam Commercial Bank of Thailand. But the Bank could not do well due to various problems and the main reason cited is the â€˜mixed-culture managementâ€™ of that time with Nepali and Thai management style not finding synergy. <br />
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	<span aldine401="" bt="" color:="" letter-spacing:="" serif="" style="font-size: 9.5pt;"><br />
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	<span aldine401="" bt="" color:="" letter-spacing:="" serif="" style="font-size: 9.5pt;">So, Siam Commercial Bank pulled out in the year 2000 selling its shares to the general Nepali public. The result was that the Bankâ€™s management came to entirely Nepali hands and the performance of the Bank started turning around. The efforts undertaken during 2001-2004 period set the foundation for the Bankâ€™s success in the following years, notes Shrestha. <br />
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	<span aldine401="" bt="" color:="" letter-spacing:="" serif="" style="font-size: 9.5pt;">During this period, the Bank changed the customer profile. It focused on importers and exporters and also started project financing in areas such as medical colleges and hydropower. Though the Bank continued financing the corporate sector, it also initiated retail banking at the same time. Under retail banking, the Bank encouraged small account holders to open â€˜Sajilo Bachat Khataâ€™ which translates to â€˜easy saving accountâ€™. <br />
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	<span aldine401="" bt="" color:="" letter-spacing:="" serif="" style="font-size: 9.5pt;">Today, the Bank has 37 branches including the head office at Kamaladi, Kathmandu, 41 ATM outlets and 6 extension counters across the country. <br />
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	<span aldine401="" bt="" color:="" letter-spacing:="" serif="" style="font-size: 9.5pt;">According to Shrestha, the human resource management of the bank is based on the concept of looking basically on two factors: recruitment standard and growth potential. â€œUnder the first, we evaluate whether the new recruit is as per the level and requirements that we have set. Under the second, we provide growth potentials within the organisation for the hired ones.â€ <br />
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	<span aldine401="" bt="" color:="" letter-spacing:="" serif="" style="font-size: 9.5pt;">The Bank, however, is not always lucky to get the manpower of required quality. Though most of the newcomers have a management degree, they still need brushing up their skills. The reason is that the fresh graduates are mostly with academic background in finance but the Bank needs people also for non-finance fields such as marketing, general management etc. This sometimes creates problems for the Bank. Marketing is very crucial for a bank to sustain and expand. â€œBut, we donâ€™t often get the manpower trained and educated on quality marketing,â€ laments Shrestha. <br />
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	<span aldine401="" bt="" color:="" letter-spacing:="" serif="" style="font-size: 9.5pt;">However, the challenges in the human resource field donâ€™t end there. As the competition is stiff in banking sector, one bankâ€™s capable employees are lured by other banks offering attractive perks and benefits. According to Shrestha, his bank is facing this challenge by continuous training process. He stresses that as long as a bank has the capacity to train its staff, it would not be a problem when some individuals leave the bank. <br />
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	<span aldine401="" bt="" color:="" letter-spacing:="" serif="" style="font-size: 9.5pt;">At present, the number of employees with the Bank is 780. <br />
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	<span aldine401="" bt="" color:="" letter-spacing:="" serif="" style="font-size: 9.5pt;">According to the opinion of Shrestha, the people donâ€™t differentiate between the banks much. For them, bank A and bank B are the same, he says and underlines the need to educate the people so that they could differentiate between the banks. <br />
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	<span aldine401="" bt="" color:="" letter-spacing:="" serif="" style="font-size: 9.5pt;">When Shrestha rejoined BOK as its CEO in February 2010, Shrestha mainly concentrated on two initiatives to increase the customer base. First, he offered higher interest rates to small depositors and next, he brought the â€˜unbankedâ€™ population to banking service. In this connection, the Bank paid attention to expanding customer base outside the Kathmandu valley. And the result is that, in the last 10 months or so, some 30 thousand new accounts were opened in the Bank. â€œWe ran a campaign making people aware that deposits are important in life. Being present ourselves in the field, we helped women, the disabled and the low income people open their own bank accounts,â€ says he. <br />
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	<span aldine401="" bt="" color:="" letter-spacing:="" serif="" style="font-size: 9.5pt;">An account can be opened in BOK with Rs 1000 as balance to which the Bank adds Rs 300 from its side, thus making the â€˜seed moneyâ€™ rise up to Rs 1300. The Bank has also removed the minimum deposit requirement in the fixed deposit. However, BOK has not offered â€˜zero balanceâ€™ or â€˜Rs 1â€ accounts that many other banks are offering.<span style="">&nbsp; </span>â€œZero balance or Rs 1 accounts may not help the people to learn about generating value from their deposits. Thatâ€™s why we did not go for that,â€ explains Shrestha.<span style="">&nbsp;</span> <br />
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	<span aldine401="" bt="" color:="" letter-spacing:="" serif="" style="font-size: 9.5pt;">Another strategic decision of the Bank is to focus its lending to a few areas so that the profiting position is not lost. Therefore, the Bank is providing only a few types of loans such as corporate loan, SME loan, retail loan, credit card and development credit. The Bank has plans to become even more focused, reveals Shrestha. <br />
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	<span aldine401="" bt="" color:="" letter-spacing:="" serif="" style="font-size: 9.5pt;">The Bank has changed even its focus in Corporate Social Responsibility. In the past, the Bankâ€™s key priority areas used to be education, health and environment. But for the past few years, the Bank has been focusing on finance and banking. Under this, the Bank has been campaigning to raise peopleâ€™s awareness on the value of deposits with the slogan, â€œWe make your life easier.â€ <br />
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	<span aldine401="" bt="" color:="" letter-spacing:="" serif="" style="font-size: 9.5pt; line-height: 115%;">Shresthaâ€™s management mantra is efficiency, not volume. â€˜Efficiency is a must for a bankâ€™s survivalâ€™ is his refrain. </span><span style="font-size: 6.5pt; line-height: 115%; font-family: Wingdings; color: rgb(237, 28, 36); letter-spacing: -0.15pt;"><span style="">&nbsp;</span> <br />
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<p style="text-align: center;">
	<span style="font-size: 24px;"><span style="font-family: &quot;Franklin Gothic Heavy&quot;,&quot;sans-serif&quot;; color: rgb(237, 28, 36);">NIC Bankâ€™s</span><span style="font-family: &quot;Franklin Gothic Heavy&quot;,&quot;sans-serif&quot;; color: rgb(46, 48, 146);">&nbsp; Productive </span><span style="line-height: 115%; font-family: &quot;Franklin Gothic Heavy&quot;,&quot;sans-serif&quot;; color: rgb(46, 48, 146);">Orientation</span></span></p>
<p style="text-align: justify;">
	<span style="font-size: 55.5pt; letter-spacing: -0.2pt;"><span style="font-size: 20px;"><span style="font-size: 18px;">W</span></span></span><span style="letter-spacing: -0.2pt;">ith the conclusion of its 13th Annual General Meeting, Nepal Industrial and Commercial Bank Limited (NIC) has decided to distribute a cash dividend of 26.32 per cent. This is one of the highest dividend payout by any bank in 2010. The Bank posted a Net Profit of Rs 449.8 million in FY 2009/10 which is 42 per cent more than last year. The Bankâ€™s Non-Performing Loans are very low at 0.7 per cent. Similarly, in the first four months of this year, the Bank has posted an operating profit of Rs 289 million. The investment of the Bank has also increased from Rs 3.026 billion to Rs 4.947 billion in FY 2009/10 which signifies 63 per cent growth. â€œOur investment portfolio clearly indicates that our exposure in productive sector is more than 90 per cent. We continue to capitalize on our strengths by increasing our investment in this sector. However, Small and Medium Enterprise sector will be focused more,â€ says Sunil Pokharel, Head, Retail Banking, NIC Bank. <br />
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<p class="BODYTEXT">
	<span style="letter-spacing: -0.2pt;">The total workforce of the Bank is 320 with 33 per cent female. <br />
	</span></p>
<p class="BODYTEXT" style="text-align: justify;">
	<span style="letter-spacing: -0.2pt;">NIC Bank had commenced its operation on 21st July, 1998 with its head office in Biratnagar. Promoted by several prominent business houses of Nepal, it started with a capital of Rs 500 million which was the highest paid up capital of any bank at that time. The paid-up capital increased to Rs 1.31 billion in FY 2009/10. The Bank has been in profit since its inception and has recorded a robust growth in its overall business and profitability during the recent years. <br />
	</span></p>
<p class="BODYTEXT" style="text-align: justify;">
	<span style="letter-spacing: -0.2pt;">The Bank has been consistently embarking on sustainable network expansion and has successfully added several new branches every year in strategic new locations. At present, the Bank has a total of 28 branches and 26 ATMs across the country serving more than 112,000 customers. The Bank will shortly be opening four more branches and adding 10 ATMs. All its branches are inter-connected through V-SAT and optical-fibre network which is capable of providing on-line real time transactions. <br />
	</span></p>
<p class="BODYTEXT" style="text-align: justify;">
	<span style="letter-spacing: -0.2pt;">Being the first ISO 9001:2008 certified commercial bank of the country, NIC has raised the bars on competition and become more committed towards delivering quality and superior products and services to the customers as well as maintaining corporate governance within its staffs. <br />
	</span></p>
<p class="BODYTEXT" style="text-align: justify;">
	<span style="letter-spacing: -0.2pt;">NIC Bank has played a pioneering role in the Nepali banking sector introducing innovative and customized products and services to its customers. Deposit Products, Business Banking, SME Banking, Consumer Banking, Transaction Banking and Bullion Business are some of the products and services offered by NIC. â€œWe are the first bank to introduce Savings Account Scheme bundled with life insurance. Also, we are the first to introduce fixed deposit account with the ease of a savings account. Recently, we have launched â€œComplete Savings Accountsâ€ â€“ a truly hassle free account for an individual and â€œNIC- Remit Savings Accountsâ€ with unique features for those receiving fund from overseas,â€ says Pokharel.<span style="">&nbsp;</span> <br />
	</span></p>
<p class="BODYTEXT" style="text-align: justify;">
	<span style="letter-spacing: -0.2pt;">NIC was awarded â€œBank of the Year 2007â€ honour by The Banker Magazine, Financial Times, London. Besides this, it is the first bank in Nepal to be provided a line of credit by International Finance Corporation (IFC), an arm of World Bank Group under its Global Trade Finance Program, enabling the Bankâ€™s Letter of Credit and Guarantee to be accepted by more than 200 banks worldwide. Also, it is the first bank to offer bullion trading and to offer lowest-price home loan schemes. <br />
	</span></p>
<p class="BODYTEXT" style="text-align: justify;">
	<span style="letter-spacing: -0.2pt;">Over the course of five successive fiscal years, the bankâ€™s performance has been tremendous. The Compounded Annual Growth Rate (CAGR) of the bank<span style="">&nbsp; </span>is one of the highest in the industry for the last five years (see table). â€œThe competition has always been tough. The increasing numbers of banks have now forced to come out from its comfort zone to provide quality services and look for new avenues in order to increase revenue by introducing new and innovative products to its customers. Therefore, we cannot be an exception,â€ says Pokharel. He adds, â€œWe consider ourselves at the adolescence stage of corporate life cycle and there is a long way to have a turning point. We strongly believe in a positive corporate cultureâ€.<span style="">&nbsp;</span> <br />
	</span></p>
<p class="BODYTEXT" style="text-align: justify;">
	<span style="letter-spacing: -0.2pt;">The bank has special and distinct Corporate Social Responsibility (CSR) practice. It has sponsored many events and programs which mainly focus on enabling talent through education, creating opportunities through social investments and corporate volunteering. All the contributions and sponsorships come under the Bankâ€™s CSR. As a responsible corporate house, NIC Bank contributes to the society in various ways through NIC Foundation (NICF), an independent non-profit organization promoted by the Bank. The foundationâ€™s main objective is to bring positive societal changes through charitable works. It aims at helping marginalized and underprivileged communities through education, health and skill development. NIC has been providing scholarship to under privileged but meritorious girl children in Kathmandu. It has also been providing scholarship to the visually challenged students who hail from Jumla to pursue their higher education in Kathmandu. It has donated computers to a school of a remote area and provided financial assistance to an orphanage in Birgunj. It has donated two ambulances in Mid-Western Regional Hospital in Surkhet. It has also helped in construction of Mata Tripurasundari Temple at Dhobighat, Lalitpur and has supported to construct a trail from Kusma to Modi Beni in Parbat district. The Bank has also been organizing a Blood Donation Campaign every year. Furthermore, the Bank has also donated for the flood victims in Koshi and diarrhoea victims in Jajarkot. The Bank has recently taken initiatives for the development of sports in Nepal and has sponsored National Open Gymnastics Championship. NICFâ€™s programs are sustained by the Bankâ€™s contribution of 0.5 per cent from its annual profits. NIC is the only bank to have fixed the proportion of its profit to be set aside for such cause. <br />
	</span></p>
<p class="MsoNormal">
	<span style="letter-spacing: -0.2pt;">Being a well established brand with 12 years history, NIC aims to continue striving for better performance and exceed the expectation of all stakeholders. Precisely, the Bankâ€™s future plans are based on providing â€œComplete Financial Solutionsâ€ to the customers and good return on investment to its shareholders. â€œApart from increasing footprints and investment in technology and system-upgradation (core banking system), we are also coming with new tailor made products to serve our anticipated customer needs. Also, we are bringing innovative products and services suitable for corporate customers as well as retail customers,â€ says Pokharel. </span></p>
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	<span style="font-size: 24px;"><span color:="" franklin="" gothic="" heavy="" sans-serif="">Imperial Finance</span><span color:="" franklin="" gothic="" heavy="" sans-serif="">: </span><span style="line-height: 115%; font-family: FranklinGothic; color: rgb(0, 94, 157);">Slow but Steady Steps</span></span></p>
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	<span aldine401="" bt="" color:="" serif="" style="font-size: 9.5pt;">Imperial Finance Limited opened a branch on January 14, 2011 at New Road of Kathmandu. Though the company now has only two branches, the presence in the main business centre of the capital gives a very positive message as it is sure to contribute to the business expansion of the company. Established in March 2006 with Rs 50 million as the paid up capital, the company is growing robust with the capital now increased to Rs 150 million. <br />
	</span></p>
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	<span aldine401="" bt="" color:="" serif="" style="font-size: 9.5pt;">Binod Karki, Chief Executive Officer (CEO) of the company says that the visionary dedication of the founder members has brought the company to this point. The company now has its own building to house its head office for about three years now. <br />
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	<span aldine401="" bt="" color:="" serif="" style="font-size: 9.5pt;">Today the company has expanded to two branches and multiplied its capital thrice from Rs 50 million to Rs 150 million, notes Karki who joined the company as the third CEO recently. Now the company is planning to increase its capital to Rs 200 million by 2013 (2070 BS) as required by the central bank. The promoters own 61 percent in the company withy the rest 39 per cent held by the general people. <br />
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	<span aldine401="" bt="" color:="" serif="" style="font-size: 9.5pt;">To increase the capital, the company is distributing bonus shares. Last year the company provided 20 per cent bonus share and this year it is giving 15 per cent bonus share. Karki says that the company might also need to issue rights share in the coming days to meet the target of the capital increment. <br />
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	<span aldine401="" bt="" color:="" serif="" style="font-size: 9.5pt;">The company has made an operating profit of Rs 47.12 million in the first quarter of the current fiscal year while it was Rs 52.04 million in the same period last year. <br />
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	<span aldine401="" bt="" color:="" serif="" style="font-size: 9.5pt;">Last year the company had opened a branch in Narayanghat of Chitwan and the branch expansion continued this year with the New Road facility opened. But that is not sufficient for competition in the market that has so many players â€“ commercial banks, development banks, finance companies and saving-credit cooperatives. However, Karki is confident of his companyâ€™s competitiveness.<span style="">&nbsp; </span>Karki says, â€œWe find ourselves ahead based on the asset and loan quality when compared to other companies.â€ <br />
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	<b><span style="font-size: 12.5pt; letter-spacing: 0.2pt;">T</span></b><span style="letter-spacing: 0.2pt;">he Extravagant inauguration of Nepal Tourism Year (NTY)- 2011 on 14th January marked the beginning of a yearlong campaign aimed at attracting one million international tourists to Nepal. A well orchestrated mega event was surely a source of new hope for the Nepalis w<input type="hidden" />ho for years were devoid of any optimistic gesture from our sullen political leadership. <br />
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	<span style="letter-spacing: 0.2pt;">But NTY is not politics, it is the pure business. This is the fact which our politicians put on the backburner once again. Millions of rupees were spent to choreograph the parades, paragliders and political speeches at the Dashrath Stadium of Kathmandu. But the link between the event held in the capital and sublime purpose of attracting one million&nbsp; tourist was apparently missing, to say the least. According to the sources in Ministry of Tourism and Civil Aviation, the inauguration ceremony alone cost about Rs 25 million to the state exchequer. But no one involved in the feast is probably able to establish how&nbsp; a single Nepal bound international tourist would be influenced by this event. <br />
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	 </p>
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	<b><span style="font-size: 12.5pt; letter-spacing: 0.2pt;"><img alt="from the editor" border="1" height="221" hspace="10" src="http://www.newbusinessage.com/ckfinder/userfiles/Images/nty.jpg" style="width: 267px; height: 221px;margin:10px;padding:10px;" vspace="10" width="267" /></span></b></p>
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	<span style="letter-spacing: 0.2pt;">Instead, had the visionaries of NTY&nbsp; 2011 spent the amount&nbsp; Rs one million each for 25 potentially tourist originating countries for example for international promotion of Nepal as the most fascinating destination, the impact would have been certainly more productive. The flaw could be dismissed as all the public sector decisions are like that. But here, our private sector leaders are boasting to be the managers of the entire activities; in that case, it is also the failure of the private sector. <br />
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	<span style="letter-spacing: 0.2pt;">Not only the inauguration ceremony of NY&nbsp; 2011 was marred by Nepal's inward looking flaws, the campaign and promotion planning for the entire event appears ad-hoc. Hiccups like the government's failure to release the budget it committed were already there. But in more serious note, the steering committee did not bother to mobilise diplomatic channels to promote NTY. The greatest testimony to it was, the USA issued adverse travel advisory to its citizens not to visit Nepal, on the very eve of the inauguration. <br />
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	<span style="letter-spacing: 0.2pt;">The complaints of the sector like sports on their exclusion is also valid, as claimed, they could have developed products of sports and other sector tourism. Regardless of anything that went right or wrong, the NTY has already begun. Therefore, the remaining period of time and resources must be used purposefully, unlike the way it was done for the inauguration.</span></p>',
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	<span style="font-size:12px;"><i><span color:="" lucida="" style="line-height: 120%;"><img alt="" border="4" hspace="3" src="http://www.newbusinessage.com/ckfinder/userfiles/Images/no.jpg" style="width: 129px; height: 155px;" vspace="2" /></span></i></span></p>
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	<span style="font-size: 12px;"><i><span color:="" lucida="" style="line-height: 120%;">By Madan Lamsal</span></i></span></p>
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	 </p>
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	<span style="line-height: 115%;"><br />
	</span></p>
<p class="BODYTEXT" style="text-indent: 0in;">
	<span style="font-size: 12px;"><span class="MyriadPro"><b><span aldine401="">T</span></b></span><span class="MyriadPro"><span aldine401="">hese days, there is a lot of news about revenue officers running behind some prominent Nepali business people. The charge on the poor business people was simple: they produced some fake VAT bills. This was indeed an unbelievable revelation as Nepali businesses selectively employ many Chartered Accountants, lawyers, tax experts and also, former bureaucrats.&nbsp; Why were all these trained hands supporting the private businesses not able to protect the firms from the clutches of the tax officers ? <br />
	</span></span></span></p>
<p class="BODYTEXT" style="text-indent: 0in;">
	 </p>
<p class="BODYTEXT">
	<span style="font-size: 12px;"><span class="MyriadPro"><span aldine401="">Economists sometimes argue that tax officers, tax accountants and tax lawyers don't perform any kind of productive function for the economy. But these economists are wrong in absolute terms. Let's first take the case of tax officers; they are highly productive. Look at the multi-million rupees bungalow of a revenue clerk at the heart of Kathmandu, who indeed had descended empty-handed from the high hills just a few years ago. And, gauge the pace of his productivity -- out of ten thousand rupees salary a month, he could multiple his income at least twenty fold to become so rich in no time. <br />
	</span></span></span></p>
<p class="BODYTEXT">
	<span style="font-size:12px;"><span class="MyriadPro"><span aldine401=""><br />
	</span></span></span></p>
<p class="BODYTEXT">
	<span style="font-size: 12px;"><span class="MyriadPro"><span aldine401="">Looking at the present determination exuded by some of the bureaucrats in tax administration, sworn to take action with tax evaders, one may find it hard to believe that these public servants work hand-in-glove with the private firms. But the recent episode of vowed action is true exception and is sure to evaporate in a couple of <br />
	</span></span></span></p>
<p class="BODYTEXT">
	<span style="font-size:12px;"><span class="MyriadPro"><span aldine401=""><br />
	</span></span></span></p>
<p class="BODYTEXT" style="text-align: justify;">
	<span style="font-size:12px;"><span class="MyriadPro"><span aldine401=""><img alt="" border="4" hspace="3" src="http://www.newbusinessage.com/ckfinder/userfiles/Images/img.jpg" style="width: 358px; height: 254px;" vspace="3" /></span></span></span></p>
<p class="BODYTEXT">
	<span style="font-size: 12px;"><span class="MyriadPro"><span aldine401="">months, if not days, without anything tangible. But the norm is: bureaucrats help the businesses to increase the profitability, and in turn, businesses reciprocate to enhance the productivity. <br />
	</span></span></span></p>
<p class="BODYTEXT">
	<span style="font-size:12px;"><span class="MyriadPro"><span aldine401=""><br />
	</span></span></span></p>
<p class="BODYTEXT">
	<span style="font-size: 12px;"><span class="MyriadPro"><span aldine401="">What could be the better productivity of CAs or tax accountants than helping their client save the tax money? They may call it tax planning, tax saving or tax avoiding, but in effect they help save money. Who on earth can say that saving is not being productive? It is a public knowledge that the best skill of an accountant lies in maintaining the balance in balance sheets. The more the cash balance, the merrier the client. This process, rather than an isolated incidence, duly recognizes the productive ability of CA and consolidates the productivity potential of the saver. <br />
	</span></span></span></p>
<p class="BODYTEXT">
	<span style="font-size:12px;"><span class="MyriadPro"><span aldine401=""><br />
	</span></span></span></p>
<p class="BODYTEXT">
	<span style="font-size: 12px;"><span class="MyriadPro"><span aldine401="">Because, not paying tax is also being highly productive. Even if you do, the amount is sure to go to the pockets of some politicians who sit in Singhadurbar or Baneswore who just eat-up time quarrelling for a chair, instead of being productive. Instead. look at how our business people could be productive out of saved money by not paying taxes. They could set up industries and production units. They can use it for their marriages, perhaps more than one, and increase their productivity. Even their luxury trips help promote value tourism that may include a number of heavenly pleasures, which in essence has to be reproduced or replenished by the tourism industry. <br />
	</span></span></span></p>
<p class="BODYTEXT">
	<span style="font-size:12px;"><span class="MyriadPro"><span aldine401=""><br />
	</span></span></span></p>
<p class="BODYTEXT">
	<span style="font-size: 12px;"><span class="MyriadPro"><span aldine401="">The tax lawyers are even more productive. These are the people who can swing the double-edged swords. They can produce the documents that are helpful for the businesses to evade the taxes at the first place and defend even indefensible if caught by the authorities. Simultaneously, they may be able to provide information to different departments or organizations like Inland Revenue Department, Flying Squad, CIAA, Revenue Tribunal etc, at least for 15 per cent legal commission.</span></span></span></p>
<p class="BODYTEXT">
	<span style="font-size:12px;"><span class="MyriadPro"><span aldine401=""><br />
	</span></span></span></p>
<p class="MsoNormal">
	<span style="font-size: 12px;"><span class="MyriadPro"><span aldine401="" letter-spacing:="">All these analogies must be enough to firmly establish that not to pay tax is being more productive than paying it. Then why not abolish the tax system altogether ? <br />
	</span></span></span></p>
<p class="MsoNormal">
	 </p>
<p class="MsoNormal">
	<span style="font-size:12px;"><span class="MyriadPro"><span aldine401="" letter-spacing:=""><br />
	</span></span></span></p>',
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			'content' => '<p class="BREAKER" style="text-indent: 14.15pt;">
	<span style="font-size:12px;"><span style="font-size: 12px;"><span class="MyriadPro"><span franklin="" gothic="" medium="" sans-serif="">Even as a school boy, Raju Babu Shrestha had pictured that being the eldest son, he will be helping out his father and someday would fill his formidable shoes. <br />
	<br />
	</span></span></span></span></p>
<p class="MsoNormal">
	 </p>
<p class="MsoNormal">
	<span style="font-size:12px;"><span class="MyriadPro"><i><img align="left" alt="personality" border="1" height="299" hspace="5" src="http://www.newbusinessage.com/ckfinder/userfiles/Images/rajubaabu shrestha.jpg" style="width: 247px; height: 299px;margin:10px;padding:10px;" vspace="5" width="247" /></i></span></span></p>
<p class="MsoNormal">
	<span style="font-size: 12px;"><span class="MyriadPro"><i><br />
	</i></span></span></p>
<p class="MsoNormal">
	<span style="font-size: 12px;"><span class="MyriadPro"><i>By Pinaki Roy</i></span><span style="line-height: 115%;"> <br />
	</span></span></p>
<p class="nbasubhead2">
	<span style="font-size:12px;"><span bright="" lucida="" serif="" style="line-height: 120%;">Raju Babu Shrestha</span></span></p>
<p class="nbasubhead2">
	<span style="font-size:12px;"><i><span bright="" lucida="" serif="" style="line-height: 120%;">Director</span></i></span></p>
<p class="MsoNormal">
	<span style="font-size:12px;"><i><span bright="" lucida="" serif="" style="line-height: 115%;">Chitawon Co-E Nepal (P) Ltd <br />
	</span></i></span></p>
<p class="MsoNormal" style="margin-bottom: 0.0001pt; vertical-align: middle;">
	<span style="font-size: 12px;"><b><span aldine401="" bt="" color:="" serif=""><br />
	</span></b></span></p>
<p class="MsoNormal" style="margin-bottom: 0.0001pt; vertical-align: middle;">
	<span style="font-size: 12px;"><b><span aldine401="" bt="" color:="" serif="">H</span></b><span aldine401="" bt="" color:="" serif="">ailing from a business family, life was not exactly a bed of roses for Raju Babu Shrestha till as they say, lady luck smiled on him. Despite working very hard and giving it all he had, the period from 1982-1988 was a difficult one for him and his family business, Chitawon Construction &amp; Engineering Company Nepal (P) Ltd also known as Chitawon Co-E Nepal (P) Ltd. However, his marriage in 1988 changed his fortunes and there was no looking back ever since, says Shrestha. If someone told me that getting married will bring me luck, I would have married earlier, he adds tongue-in-cheek.&nbsp;</span></span></p>
<p class="MsoNormal" style="margin-bottom: 0.0001pt; vertical-align: middle;">
	<span style="font-size:12px;"><span aldine401="" bt="" color:="" serif=""><br />
	</span></span></p>
<p class="MsoNormal" style="margin-bottom: 0.0001pt; text-indent: 14.15pt; vertical-align: middle;">
	<span style="font-size: 12px;"><span aldine401="" bt="" color:="" serif="">Business runs in Shrestha's blood, his forefathers were from Gorkha and dealt in trading activities. But his father Laxman Babu Shrestha had different ideas in mind. And so, Chitawon Co-E Nepal (P) Ltd was registered as a proprietorship concern in 1966. Later, having proven its performance in various construction projects with excellent results, the company was promoted to class A Contractor in 1978. The Flagship Company has come a long way and today boasts of an impressive portfolio of companies including Manakamana Darshan (P) Ltd, Sagarmatha Power Company (P) Ltd, Nepal Ropeway Systems (P) Ltd, and Chitawon Milk (P) Ltd. Shrestha holds the position of Director in all these companies. <br />
	</span></span></p>
<p class="MsoNormal" style="margin-bottom: 0.0001pt; text-indent: 14.15pt; vertical-align: middle;">
	<span style="font-size:12px;"><span aldine401="" bt="" color:="" serif=""><br />
	</span></span></p>
<p class="MsoNormal" style="margin-bottom: 0.0001pt; text-indent: 14.15pt; vertical-align: middle;">
	<span style="font-size: 12px;"><span aldine401="" bt="" color:="" serif="">He fondly remembers his early days in Chitwan when though life was difficult due to lack of transportation; he still enjoyed his bicycle rides in the forested terrain. While in middle school, he would accompany his father and visit various construction sites for irrigation canals, roads, and dams. That was the seed period as Shrestha precisely knew what he wanted to do in life when he was grown up enough. He could envisage that he will be helping out his father being the eldest son and someday would fill his formidable shoes.&nbsp;</span></span></p>
<p class="MsoNormal" style="margin-bottom: 0.0001pt; text-indent: 14.15pt; vertical-align: middle;">
	<span style="font-size:12px;"><span aldine401="" bt="" color:="" serif=""><br />
	</span></span></p>
<p class="MsoNormal" style="margin-bottom: 0.0001pt; text-indent: 14.15pt; vertical-align: middle;">
	<span style="font-size: 12px;"><span aldine401="" bt="" color:="" serif="">Shrestha came back to his birthplace Kathmandu to pursue High School as a boarder at Ananda Kuti Vidyapith. After graduating from High School, he wanted to study engineering but sacrificed his dream to help his father. Instead, he enrolled for a Bachelor of Science programme in Mathematics at Amrit Science Campus that would allow him more time for business. He started work while in college and gained hands-on experience which would come in handy for his future course in life. Bijayapur Irrigation Project in Pokhara was the first project I handled independently, he proudly states. A firm believer in making a contribution to the country's development, he has been instrumental in diversifying, mechanising and developing the family business.&nbsp;</span></span></p>
<p class="MsoNormal" style="margin-bottom: 0.0001pt; text-indent: 14.15pt; vertical-align: middle;">
	<span style="font-size:12px;"><span aldine401="" bt="" color:="" serif=""><br />
	</span></span></p>
<p class="MsoNormal" style="margin-bottom: 0.0001pt; text-indent: 14.15pt; vertical-align: middle;">
	<span style="font-size: 12px;"><span aldine401="" bt="" color:="" serif="">As a young boy, Shrestha was a tad shy when it came to making acquaintance with girls but never felt that he must have a girlfriend. Times have changed,he sighs. Always having led an orthodox and simple life, his was an arranged marriage. Proud of having fathered three beautiful daughters, he says he doesn't miss having a son, Today, the world has moved on. It's no longer considered a disadvantage not to have a son for an heir. He is confident that all his daughters will make him proud as they grow up. Like father, like daughter his eldest daughter is already on the right path, pursuing her Bachelor in Business Administration degree from Webster University. She is already taking an interest in business matters and shows signs of promise to hold </span></span><span style="font-size: 12px;"><span>the fort when the time comes. </span></span></p>
<p class="MsoNormal" style="margin-bottom: 0.0001pt; text-align: justify; text-indent: 14.15pt; vertical-align: middle;">
	<span style="font-size:12px;"><span aldine401="" bt="" color:="" serif=""><img align="left" alt="persoanlity" border="1" height="522" hspace="5" src="http://www.newbusinessage.com/ckfinder/userfiles/Images/Raju Babu Shrestha1.jpg" style="width: 364px; height: 522px;margin:10px;padding:10px;" vspace="5" width="364" /></span></span></p>
<p class="MsoNormal" style="margin-bottom: 0.0001pt; text-indent: 14.15pt; vertical-align: middle;">
	<span style="font-size: 12px;"><span aldine401="" bt="" color:="" serif=""><br />
	</span></span></p>
<p class="MsoNormal" style="margin-bottom: 0.0001pt; text-indent: 14.15pt; vertical-align: middle;">
	<span style="font-size: 12px;"><span aldine401="" bt="" color:="" serif="">Shrestha does not believe in showing off and hence lives an austere lifestyle. Glamour is not his forte. You will seldom see him wearing expensive suits unless he is attending a business conference or a formal occasion. He is clad in casual wear (read Jeans, T-Shirts, Working boots, Jackets) most of the time as his work involves field (on site) work. He is most comfortable when he is among friends or at an informal gathering as he doesn't have to worry too much about what he is wearing. Shrestha likes to call himself old-fashioned. A family man to the core, he draws inspiration from his wife, She always gives me positive vibes. Whenever he is short on motivation, he looks up to his father from whom he learnt the tricks of the trade. He has always been my role model, he says.&nbsp;</span></span></p>
<p class="MsoNormal" style="margin-bottom: 0.0001pt; text-indent: 14.15pt; vertical-align: middle;">
	<span style="font-size:12px;"><span aldine401="" bt="" color:="" serif=""><br />
	</span></span></p>
<p class="MsoNormal" style="margin-bottom: 0.0001pt; text-indent: 14.15pt; vertical-align: middle;">
	<span style="font-size: 12px;"><span aldine401="" bt="" color:="" serif="">Despite a busy schedule, Shrestha manages to find time to travel within Nepal as well as abroad. Whenever time permits, he sets along to tour a new destination, either with friends or family, in search of nature and adventure. He has already visited 50 districts in Nepal for work or purely on vacation. He has toured a host of foreign countries for business as well as leisure&nbsp; United Kingdom, Japan, Germany, China, Austria, Italy, and Korea to name a few. His favourite cuisines include Korean, Japanese, and Chinese&nbsp; he is only too happy that his favourite cuisines are available in some Kathmandu restaurants as well. Shrestha loves to cook as it helps him de-stress, keep healthy and relax. The best part is that my family loves my cooking too which makes me feel good, he chuckles. <br />
	</span></span></p>
<p class="MsoNormal" style="margin-bottom: 0.0001pt; text-indent: 14.15pt; vertical-align: middle;">
	<span style="font-size:12px;"><span aldine401="" bt="" color:="" serif=""><br />
	</span></span></p>
<p class="MsoNormal" style="margin-bottom: 0.0001pt; text-indent: 14.15pt; vertical-align: middle;">
	<span style="font-size: 12px;"><span aldine401="" bt="" color:="" serif="">You wonder if having achieved so much has made him complacent. On the contrary, Shrestha says that his job is far from finished. â€œI agree that when I think of my early days, I do feel I have achieved a great deal and am satisfied about the whole thing but it has also increased my obligations and responsibilities. To maintain the heights that we have reached is the current challenge, he explains. Shrestha says that wealth creation is not his sole objective. He has everything that a man can want in terms of material needs. He hopes that whatever he does, it should benefit the people of the country. <br />
	</span></span></p>
<p class="MsoNormal" style="margin-bottom: 0.0001pt; text-indent: 14.15pt; vertical-align: middle;">
	<span style="font-size:12px;"><span aldine401="" bt="" color:="" serif=""><br />
	</span></span></p>
<p class="MsoNormal" style="margin-bottom: 0.0001pt; text-indent: 14.15pt; vertical-align: middle;">
	<span style="font-size: 12px;"><span aldine401="" bt="" color:="" letter-spacing:="" serif="">Not the one to rest on his past laurels, Shrestha has several projects up his sleeve. Expanding Cable Car services is one. After the highly successful Manakamana Cable Car that connects Kurintar in Chitwan with Manakamana in Gorkha, there are at least two similar projects in feasibility study phase presently. He is optimistic that the proposed Cable Car projects in Pokhara and Kalinchok (Dolakha), when completed, will facilitate tourism development in the respective areas. He also plans to set up an agricultural machinery and tools enterprise which will import to begin with and get into manufacturing in due course of time.&nbsp; Chitawon Milk is another project that's close to his heart. The company produces skimmed milk powder, baby food, yogurt, butter, and ghee etc. He is hopeful that it will uplift professional cow farming and encourage milk farmers to produce more. This will benefit the economic condition of the farmers as well as the national economy.</span></span></p>
<p class="MsoNormal" style="margin-bottom: 0.0001pt; text-indent: 14.15pt; vertical-align: middle;">
	<span style="font-size:12px;"><span aldine401="" bt="" color:="" letter-spacing:="" serif=""><br />
	</span></span></p>
<p class="MsoNormal">
	<span style="font-size: 12px;"><span aldine401="" bt="" color:="" letter-spacing:="" serif="" style="line-height: 115%;">As if he was not finished yet, Shrestha revealed another aspect of his personality&nbsp; he is an Art Lover. He visits art exhibitions when he can and likes to collect Nepali art. He especially likes buying natural material and even designs them with help from his artist friend Shyam Lal Shrestha. When you step into his living room, you'll find it to be a work-of-art, literally. The ceiling has many blocks of Newari art, each of them symbolising a different meaning. Shrestha says he is very lucky to have a loving family as family binding is most important&nbsp; it helps him remain grounded. <br />
	</span></span></p>
<p class="MsoNormal">
	<span style="font-size:12px;"><span aldine401="" bt="" color:="" letter-spacing:="" serif="" style="line-height: 115%;"><br />
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<p class="NoParagraphStyle" style="margin-bottom: 5.65pt;">
	<span style="font-size:12px;"><em><span style="color: rgb(0, 0, 0);"><strong><span class="MyriadPro"><span style="line-height: 120%;">''Software Industry in Nepal is Much Bigger than &nbsp;We Think It is''</span></span></strong></span></em></span></p>
<p class="NoParagraphStyle" style="margin-bottom: 5.65pt;">
	<span style="font-size:12px;"><br />
	</span></p>
<p class="questionsforinterview">
	<span style="font-size:12px;"><em><span style="color: rgb(0, 0, 0);"><span class="MyriadPro"><span bt="" frnkgothitc="" hv="" lang="EN-GB" sans-serif=""><img align="left" alt="sanjib" border="1" height="167" hspace="5" src="http://www.newbusinessage.com/ckfinder/userfiles/Images/Sanjib Raj Bhandari1.jpg" style="width: 205px; height: 167px;margin:10px;padding:10px;" vspace="5" width="205" /></span></span></span></em></span></p>
<p class="questionsforinterview" style="text-align: justify;">
	<span style="font-size:12px;"><em><span style="color: rgb(0, 0, 0);"><span class="MyriadPro"><span bt="" frnkgothitc="" hv="" lang="EN-GB" sans-serif="">Sanjib Raj Bhandari</span><span lang="EN-GB"> is the CEO of Mercantile Office Systems, the pioneer company in Nepal's IT sector. Having seen the evolution of sorts in IT in the past two decades, Raj Bhandari himself has effected a sea-change in his business, priorities and processes. At the beginning, his company was a computer distributer in the mid-1980s, became an internet service provider in 1990s, produced own brands of computers in the beginning of 2000, and now in 2011, Mercantile is chiefly a software producing company. Mercantile-produced software are extensively used in Nepal, especially in the banking sector. Raj Bhandari foresees Nepal's great future in IT, as well as expresses concern that we are among the â€œbottom fewâ€ in the global IT map. He says Nepal also lags in South Asia behind India, Pakistan, Sri Lanka and Bangladesh. Excerpts:&nbsp;&nbsp; </span><span lang="EN-GB" style="letter-spacing: -0.1pt;"><br />
	</span></span></span></em></span></p>
<p class="ANSWER" style="text-align: justify;">
	<span style="font-size:12px;"><span style="color: rgb(0, 0, 0);"><strong><span class="MyriadPro"><span lang="EN-GB" style="letter-spacing: -0.1pt;">Your company Mercantile has been considered one of the pioneers in Nepal's IT sector. How do you view the growth of the sector over the period of last two decades?</span></span></strong></span></span></p>
<p class="ANSWER" style="text-align: justify;">
	<span style="font-size:12px;"><span style="color: rgb(0, 0, 0);"><span class="MyriadPro"><span lang="EN-GB" style="letter-spacing: -0.1pt;">The growth has been tremendous over this period. If you look at the very beginning in the early 1990, we had a problem not only with the fact that we were all very new to IT sector, but there were no government policies specially addressing this sector. Computers and its parts were considered luxury items thumbing that the ordinary people do not need them. That psyche was reflected in the government policies. We had a lot of difficulties in doing business not only of hardware but also the software. The policies vis-Ã&nbsp;-vis IT sector were very unfriendly. <br />
	</span></span></span></span></p>
<p class="ANSWER" style="text-align: justify;">
	<span style="font-size:12px;"><span style="color: rgb(0, 0, 0);"><span class="MyriadPro"><span lang="EN-GB" style="letter-spacing: -0.1pt;">We've come a very-very long way. Today the overall policies are very positive. This transformation has helped both the hardware and software industries to grow. There's been a sea of change not only in the IT development but also on how the government and the people at large perceive the IT now.&nbsp; <br />
	</span></span></span></span></p>
<p class="questionsforinterview" style="text-align: justify;">
	<span style="font-size:12px;"><span style="color: rgb(0, 0, 0);"><span class="MyriadPro"><span lang="EN-GB" style="letter-spacing: -0.1pt;">Could you please elaborate on how Mercantile managed to grow to become the market leader as it is now?</span></span></span></span></p>
<p class="ANSWER" style="text-align: justify;">
	<span style="font-size:12px;"><span style="color: rgb(0, 0, 0);"><span class="MyriadPro"><span lang="EN-GB" style="letter-spacing: -0.1pt;">I run a number of IT companies, of which I run two flagship companies from this building (see picture). The first one is Mercantile Office Systems (MOS), which we started in 1985. It concentrated mainly on distribution of computer and IT related products and software development. We started internet business including email under the MOS in 1992-93. The second one is Mercantile Communications which we started in 1995. We did not know too much when we started internet service under the MOS. It was very much exploring and doing things as you go along. We did not have much technical know-how. Internet was completely new. When we started email service in December 1993, email was not available for the public in India. When we started the internet in 1995, commercial internet had just begun in Singapore. It would not begin in India for another 3 or 4 years. So it was very-very new, we would not know what we were doing, we learnt as we went along, we sought help from a lot of people from outside. Today you can go and hire engineers. In those days, we did not find engineers. We had to actually train our own engineers.&nbsp;&nbsp;&nbsp; <strong><br />
	</strong></span></span></span></span></p>
<p class="questionsforinterview" style="text-align: justify;">
	<span style="font-size:12px;"><strong><span style="color: rgb(0, 0, 0);"><span class="MyriadPro"><span lang="EN-GB" style="letter-spacing: -0.1pt;">You have been selling your own Mercantile brand of computers and office systems. Do you see any need to bring changes in your products or services? </span></span></span></strong></span></p>
<p class="ANSWER" style="text-align: justify;">
	<span style="font-size:12px;"><span style="color: rgb(0, 0, 0);"><span class="MyriadPro"><span lang="EN-GB" style="letter-spacing: -0.1pt;">We have been distributing computers since 1985. In the beginning of 2000, we experimented with our own products. We were very successful for two years, but later we could not compete with the international products. The reason was that we needed to be 25 per cent cheaper than the international products and the other products available. In the beginning, we could maintain the difference but later we could not. So, we slowly phased the production out. We don't have the products now. <br />
	</span></span></span></span></p>
<p class="questionsforinterview">
	<span style="font-size:12px;"><strong><span style="color: rgb(0, 0, 0);"><span class="MyriadPro"><span lang="EN-GB" style="letter-spacing: -0.1pt;">Your company software are extensively used by Nepali companies. What distinguishes your products and services from the others?</span></span></span></strong></span></p>
<p class="ANSWER" style="text-align: justify;">
	<span style="font-size:12px;"><span style="color: rgb(0, 0, 0);"><span class="MyriadPro"><span lang="EN-GB" style="letter-spacing: -0.1pt;">I think it is the quality. We have from the very beginning emphasised on quality and we have always maintained ourselves and concentrated on niche market. We have seldom gone for mass market. Most of our services are in the gear to corporates. Some of our products like computer notebooks and communication software are now available for mass marketing. Our services like technical, banking and software services have always been very selective. That's how we actually maintain our profile. <br />
	</span></span></span></span></p>
<p class="questionsforinterview" style="text-align: justify;">
	<span style="font-size:12px;"><strong><span style="color: rgb(0, 0, 0);"><span class="MyriadPro"><span lang="EN-GB" style="letter-spacing: -0.1pt;">Could you tell us where does Nepal stand in the global IT map and what position Nepal has in South Asia? What are the hindrances as well as prospects for the growth of this sector?</span></span></span></strong></span></p>
<p class="ANSWER" style="text-align: justify;">
	<span style="font-size:12px;"><span style="color: rgb(0, 0, 0);"><span class="MyriadPro"><span lang="EN-GB" style="letter-spacing: -0.1pt;">If there were a global IT map, we would find ourselves in the bottom few. I often say that our proximity with India is only in relation to geography. Our proximity with India is not in development scale, manufacturing and specially IT. In South Asia, India is way-way up, then would come Pakistan or Sri Lanka not necessarily in the order, and we would be close behind Bangladesh but it does not mean too much, as we still have a lot of run to cover.&nbsp;&nbsp;&nbsp; <br />
	</span></span></span></span></p>
<p class="ANSWER" style="text-align: justify;">
	<span style="font-size:12px;"><span style="color: rgb(0, 0, 0);"><span class="MyriadPro"><span lang="EN-GB" style="letter-spacing: -0.1pt;">Nonetheless, the software industry in Nepal is much bigger than we think it is. We do not have proper statistics. But my guess is that there are over 5,000 people working in the software industry of Nepal. There are maybe 40 to 50 companies that have employed some 30 to 40 people each. There could be as many as 10 companies with over 100 people in each. Many of these companies are involved in software exports. Their figures do not reflect national figures because many of them do not want to come out in the open as it would create far too big problems for them. And, as their customer base is abroad and as they do not need a formal registration in Nepal, they choose not to be in the legal hassles here. This is something the government really needs to address. &nbsp;&nbsp;&nbsp; </span></span></span></span></p>
<p class="ANSWER" style="text-align: justify;">
	<span style="font-size:12px;"><span style="color: rgb(0, 0, 0);"><span class="MyriadPro"><span lang="EN-GB" style="letter-spacing: -0.1pt;">There are a lot of capabilities within the country to develop software. If you look at the hardware sales, the value addition, in terms services, distribution and warranty the Nepali companies provide, is between 2 to 8 per cent. If you look at the software, the value addition is over 90 per cent. There are some 7-8 companies that are exporting services to where the potential lies.&nbsp;&nbsp; <br />
	</span></span></span></span></p>
<p class="questionsforinterview">
	<span style="font-size:12px;"><strong><span style="color: rgb(0, 0, 0);"><span class="MyriadPro"><span lang="EN-GB" style="letter-spacing: -0.1pt;">How are the government policies impacting on the growth of this sector? </span></span></span></strong></span></p>
<p class="ANSWER" style="text-align: justify;">
	<span style="font-size:12px;"><span style="color: rgb(0, 0, 0);"><span class="MyriadPro"><span lang="EN-GB" style="letter-spacing: -0.1pt;">The government role is obviously very-very important here. But, the software industry does not need, does not look for government leadership and does not make their plans and projects relying or looking at the government action. The private sector must lead. If the government can catch up the pace, it's fine. Otherwise, the growth will find its own path. A great example is the trekking business. When the trekking agencies started in the 1970s, they organised themselves without government aid. Later on, the government came in to issue the licenses to them. The government has policies and has made policies in the past too. But execution has been the problem in Nepal. Emphasis really has to be on execution, not so much on formulating and announcing the policies. <br />
	</span></span></span></span></p>
<p class="questionsforinterview" style="text-align: justify;">
	<span style="font-size:12px;"><strong><span style="color: rgb(0, 0, 0);"><span class="MyriadPro"><span lang="EN-GB" style="letter-spacing: -0.1pt;">Do you see any possibility of government and private sector working together for the development of IT sector?</span></span></span></strong></span></p>
<p class="ANSWER" style="text-align: justify;">
	<span style="font-size:12px;"><span style="color: rgb(0, 0, 0);"><span class="MyriadPro"><span lang="EN-GB" style="letter-spacing: -0.1pt;">Traditionally, we think that the partnership between the government and private sector is fruitful. But, what we have discovered is that the government has very soft corner for IT sector, but still the cooperation has not yielded true fruits. This is not only the fault of the government. I feel the private sector too has not played its part. When you demand so many things from the government, you make your business compatible to the policies and accountable to the country. If you look at any industrial development in Nepal, it has always been private sector led. So the progress has to be made by private sector. If the government assists, it is welcome; if it doesnâ€™t, it need not be bothered.</span> <br />
	</span></span></span></p>
<p class="ANSWER" style="text-align: justify;">
	<span style="font-size:12px;"><span style="color: rgb(0, 0, 0);"><span class="MyriadPro"><span lang="EN-GB" style="letter-spacing: -0.1pt;">As I previously mentioned, the initiatives has been taken by the private sector. However, if the government and the private sector were to cooperate, the government could obviously help with better and improved policies. The government could also help by buying software and looking for solutions, let's say in electricity or telecom companies. This encourages Nepali IT companies to take part. But right now, the terms, conditions and perks in international standards that the government boasts are rather punitive to Nepali companies. I repeat they are not only discriminatory but also punitive. Those companies put such conditions which Nepali companies simply cannot meet. Or, if they can be met, they could be agents only. This is very humiliating. It is fine if the government entertains the business from international companies in the area where Nepali IT companies cannot compete. But the Nepali government is disqualifying the Nepali companies for many other reasons. To correct this, the government need not do too many things. What it can do is to just encourage, invite and qualify Nepali companies to take part in business bidding to provide service for Nepal government and institutions. There could be many areas like e-commerce, trade, billing boards for telecom and other government bodies â€“ where the Nepali companies too can perform well, given little amendment in service procurement mechanism. Therefore, for now it would be enough to revoke the punitive and discriminatory policies on the part of the government; let alone making fancy policies. <br />
	</span></span></span></span></p>
<p class="questionsforinterview" style="text-align: justify;">
	<span style="font-size:12px;"><strong><span style="color: rgb(0, 0, 0);"><span class="MyriadPro"><span lang="EN-GB" style="letter-spacing: -0.1pt;">The Computer Association of Nepal (CAN) and ICT Association of Nepal are holding Info Tech Fairs every year. How do you evaluate the role of these fairs in promoting IT business in the country?</span></span></span></strong></span></p>
<p class="ANSWER" style="text-align: justify;">
	<span style="font-size:12px;"><span style="color: rgb(0, 0, 0);"><span class="MyriadPro"><span lang="EN-GB" style="letter-spacing: -0.1pt;">The CAN and ICT info-tech fair attracts hundreds of thousands of visitors every year. Obviously it plays the central role in awareness, as it educates the public at large. However, it is almost like the flagship event for CAN and ICT. It is important for these organisations to focus and involve in other large events of info-tech. Right now they are perceived as single event institutions. They need to move out of that.&nbsp;&nbsp; <br />
	</span></span></span></span></p>
<p class="questionsforinterview" style="text-align: justify;">
	<span style="font-size:12px;"><strong><span style="color: rgb(0, 0, 0);"><span class="MyriadPro"><span lang="EN-GB">There are some unused infrastructures on IT, one of them being the IT Park in Banepa, Kavre. Why do you think such utilities are almost defunct? </span></span></span></strong></span></p>
<p class="ANSWER" style="text-align: justify;">
	<span style="font-size:12px;"><span style="color: rgb(0, 0, 0);"><span class="MyriadPro"><span lang="EN-GB" style="letter-spacing: -0.1pt;">In 1992, a high level commission was set up to look at the development of IT and the benefits of IT Park. Ten years down the line, many things have changed, in particular the communication technologies. The IT Park is yet to embrace the changes. That could be the major reason for it being a mess.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; <br />
	</span></span></span></span></p>
<p class="questionsforinterview" style="text-align: justify;">
	<span style="font-size:12px;"><strong><span style="color: rgb(0, 0, 0);"><span class="MyriadPro"><span lang="EN-GB">Still, don't you think there is a digital divide prevalent in the country? How do you think such divide can be narrowed down? </span></span></span></strong></span></p>
<p class="ANSWER" style="text-align: justify;">
	<span style="font-size:12px;"><span style="color: rgb(0, 0, 0);"><span class="MyriadPro"><span lang="EN-GB" style="letter-spacing: -0.1pt;">Digital divide is alarming. Only one or two per cent of Nepali people have access to internet and IT in general. Increasing the access of people to IT and telecommunications can lower the digital divide as both these sectors are complimentary and intertwined. The number of people having access to IT and telecommunications is increasing. I'm happy with that and hopeful too.&nbsp;&nbsp; <br />
	</span></span></span></span></p>
<p class="questionsforinterview" style="text-align: justify;">
	<span style="font-size:12px;"><strong><span style="color: rgb(0, 0, 0);"><span class="MyriadPro"><span lang="EN-GB">As a matter of fact, your company operates an online media too. How much do think it has contributed to the growth of online media in Nepal? How economically feasible is it?</span></span></span></strong></span></p>
<p class="ANSWER" style="text-align: justify;">
	<span style="font-size:12px;"><span style="color: rgb(0, 0, 0);"><span class="MyriadPro"><span lang="EN-GB" style="letter-spacing: -0.1pt;">When we established a news portal in 1999, it was definitely not sustainable for the next 5-6 years. But today for the last 3 or 4 years, the portal has been doing fine economically too. We have hired almost 20 people. The portal pays for itself and is also making money. Online media came with more people having access to communication, computer and education. To have access to online media, one must have computer device, must have access to communication and must be educated. In developed markets, the online media has overshadowed the traditional media. I am still doubtful that will happen in Nepal in the foreseeable future. <br />
	</span></span></span></span></p>
<p class="questionsforinterview">
	<span style="font-size:12px;"><strong><span style="color: rgb(0, 0, 0);"><span class="MyriadPro"><span lang="EN-GB" style="letter-spacing: -0.1pt;">Every successful company stores plans for future as well. What about yours? </span></span></span></strong></span></p>
<p class="ANSWER" style="text-align: justify;">
	<span style="font-size:12px;"><span style="color: rgb(0, 0, 0);"><span class="MyriadPro"><span lang="EN-GB" style="letter-spacing: -0.1pt;">We will obviously expand on our communication network. We will expand our institutional network to cover entire country now. In banking software, we expect to grow at least 100 per cent on year basis. We are also looking on international market and we are very hopeful. As of now, over 50 per cent of the banks, over 70 per cent of the development banks and 90 per cent of the finance companies use our software. This covers almost 1000 branches in the country's financial system. Even if you say each branch in average uses this software 20 to 30 times, some 20 to 30 thousand use our software daily.&nbsp;&nbsp;&nbsp;&nbsp; <br />
	</span></span></span></span></p>
<p class="questionsforinterview">
	<span style="font-size:12px;"><strong><span style="color: rgb(0, 0, 0);"><span class="MyriadPro"><span lang="EN-GB" style="letter-spacing: -0.1pt;">What could be the way forward?</span></span></span></strong></span></p>
<p class="ANSWER" style="text-align: justify;">
	<span style="font-size:12px;"><span style="color: rgb(0, 0, 0);"><span class="MyriadPro"><span lang="EN-GB" style="letter-spacing: -0.1pt;">With the growth of communication and education and population as well, the IT sector can only grow. I see its great future in Nepal.&nbsp;</span><span style="letter-spacing: -0.1pt;"> </span></span></span></span></p>
<p class="MsoNormal">
	<span style="font-size:12px;"><span style="color: rgb(0, 0, 0);"><span style="line-height: 115%;">&nbsp;</span></span></span></p>',
			'published' => true,
			'created' => '2011-02-09',
			'modified' => '2012-09-16',
			'keywords' => '',
			'description' => 'Sanjib Raj Bhandari is the CEO of Mercantile Office Systems, the pioneer company in Nepal's IT sector. Having seen the evolution of sorts in IT in the past two decades, Raj Bhandari himself has effected a sea-change in his business, priorities',
			'sortorder' => '143',
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	),
	(int) 11 => array(
		'Article' => array(
			'id' => '205',
			'article_category_id' => '50',
			'title' => 'Feedback February 2011',
			'sub_title' => '',
			'summary' => null,
			'content' => '<p class="MsoNormal" style="margin-bottom: 0.0001pt; line-height: 11pt; vertical-align: middle;">
	<span style="font-size: 12px;"><span style="color: rgb(0, 0, 0);"><span aldine401="" bt="" color:="" serif=""><strong>Going Green With Bicycles</strong><br />
	<br />
	T</span><span aldine401="" bt="" color:="" letter-spacing:="" serif="">here was good news published on January issue of Nubiz about the Laxmi Bank going green. The bank's initiative to encourage staff to ride bicycle to office at least a day in a week is really commendable. That is something every corporate house and company should choose to do. It not only helps make the environment greener but also is a healthy way to reach office.</span></span></span></p>
<p class="MsoNormal" style="margin-bottom: 0.0001pt; line-height: 11pt; vertical-align: middle;">
	<span style="font-size:12px;"><span style="color: rgb(0, 0, 0);"><span aldine401="" bt="" color:="" letter-spacing:="" serif=""><br />
	</span></span></span></p>
<p class="MsoNormal">
	<span style="font-size:12px;"><span style="color: rgb(0, 0, 0);"><span aldine401="" bt="" color:="" letter-spacing:="" serif="">It would be better, if we, the working people, can do it voluntarily rather than imposed by our bosses. Riding a bicycle is the best option over the car or the motorbike. Bicycles also help expand the crowded and squeezed streets like ours. And it also adds some relief to the parking space crisis.</span></span></span></p>
<p class="MsoNormal">
	<span style="font-size:12px;"><span style="color: rgb(0, 0, 0);"><span aldine401="" bt="" color:="" serif="" style="line-height: 115%;">Reading about the green program I am planning to opt for similar way to reach office. And I am surely going to discuss with my colleagues on the greener, healthier and economic way to reach my workstation. But I â'm still not that much sure how much the roads of Kathmandu are suitable for bicycles.</span></span></span></p>
<p class="MsoNormal" style="margin-bottom: 0.0001pt; line-height: 11pt; vertical-align: middle;">
	<span style="font-size:12px;"><span style="color: rgb(0, 0, 0);"><b><span aldine401="" bt="" color:="" serif="">- Binaya Khatiwada</span></b></span></span></p>
<p class="MsoNormal">
	<span style="font-size:12px;"><span style="color: rgb(0, 0, 0);"><b><span aldine401="" bt="" color:="" serif="" style="line-height: 115%;">&nbsp;Kalopul, Kathmandu</span></b></span></span></p>
<p class="MsoNormal">
	<span style="font-size:12px;"><span style="color: rgb(0, 0, 0);"><b><span aldine401="" bt="" color:="" serif="" style="line-height: 115%;"><br />
	</span></b></span></span></p>
<p class="MsoNormal" style="text-align: center;">
	<span style="font-size:12px;"><span style="color: rgb(0, 0, 0);"><b><span aldine401="" bt="" color:="" serif="" style="line-height: 115%;">--------------------------------------------------------------------------------------------------<br />
	</span></b></span></span></p>
<p class="MsoNormal" style="text-align: center;">
	<span style="font-size:12px;"><span style="color: rgb(0, 0, 0);"><b><span aldine401="" bt="" color:="" serif="" style="line-height: 115%;"><br />
	</span></b></span></span></p>
<p class="BODYTEXT" style="text-indent: 0in;">
	<span style="font-size: 14px;"><span style="color: rgb(0, 0, 0);"><b><span aldine401="" bt="" color:="" serif="" style="line-height: 115%;">&nbsp;</span></b><span cond="" demi="" franklin="" gothic="" sans-serif="">Corporate Responsibility&nbsp;&nbsp; <br />
	</span></span></span></p>
<p class="BODYTEXT" style="text-indent: 0in;">
	<span style="font-size:14px;"><span style="color: rgb(0, 0, 0);"><span cond="" demi="" franklin="" gothic="" sans-serif="">&nbsp;&nbsp;&nbsp;&nbsp; </span></span></span></p>
<p class="BODYTEXT" style="text-indent: 0in;">
	<span style="font-size:12px;"><span style="color: rgb(0, 0, 0);">'CSR a Useless Concept ?&nbsp; an article by Catrin Froehlich sparked a thought in my mind. The Nepali corporate houses may claim that they are making huge non-profit contributions to the society in the name of corporate social responsibility (CSR). But as Froehlich rightly pointed out, mostly, there are some long term profit motives attached to any CSR initiative. The corporate houses are always looking for a win-win situation. I don't think business houses pour money into anything in the name of CSR without looking for any return. A bank&nbsp; investing&nbsp; in sponsoring educating students in a school is certain that those students in&nbsp; future will open accounts or buy shares of the bank and also work as the agents to encourage others to&nbsp; buy&nbsp; services and products of that bank. Similarly, they foresee a lot of businesses and calculate the return of CSR activities. On the other hand, CSR activities are the publicity stunts, too, to grab the attention of consumers towards the brand names in less cost than the cost of media advertisements.</span></span></p>
<p class="MsoNormal" style="margin-bottom: 0.0001pt; line-height: 11pt; vertical-align: middle;">
	<span style="font-size:12px;"><span style="color: rgb(0, 0, 0);"><b><span aldine401="" bt="" color:="" serif="">- Srijana Shrestha</span></b></span></span></p>
<p class="MsoNormal">
	<span style="font-size:12px;"><span style="color: rgb(0, 0, 0);"><b><span aldine401="" bt="" color:="" serif="" style="line-height: 115%;">Bhaktapur</span></b></span></span></p>
<p class="MsoNormal">
	<span style="font-size: 12px;"><span style="color: rgb(0, 0, 0);"><b><span aldine401="" bt="" color:="" serif="" style="line-height: 115%;">&nbsp;</span></b></span></span></p>
<p class="MsoNormal" style="text-align: center;">
	<span style="font-size:12px;"><span style="color: rgb(0, 0, 0);"><b><span style="line-height: 115%;">--------------------------------------------------------------------------------------------------</span></b></span></span></p>
<p class="MsoNormal">
	<span style="font-size:12px;"><span style="color: rgb(0, 0, 0);"><b><span style="line-height: 115%;"><br />
	</span></b></span></span></p>
<p class="BODYTEXT" style="text-indent: 0in;">
	<strong><span style="font-size:14px;"><span style="color: rgb(0, 0, 0);"><span cond="" demi="" franklin="" gothic="" sans-serif="">It is HR Solutions</span></span></span></strong></p>
<p class="BODYTEXT" style="text-indent: 0in;">
	<span style="font-size:12px;"><span style="color: rgb(0, 0, 0);">Thank you so much for publishing the HR Kurakani on your reputed magazine.&nbsp; I would like to bring into notice the major mistake in the article i.e. the name of our organization is Real solutions but it has been written in the beginning of the article as HR solutions.</span></span></p>
<p class="BODYTEXT">
	<span style="font-size:12px;"><span style="color: rgb(0, 0, 0);">Thanking you!</span></span></p>
<p class="BODYTEXT" style="text-indent: 0in;">
	<span style="font-size:12px;"><span style="color: rgb(0, 0, 0);"><b>- Kriti</b></span></span></p>
<p class="BODYTEXT" style="text-indent: 0in;">
	<span style="font-size:12px;"><span style="color: rgb(0, 0, 0);"><b>meroJob.com</b></span></span></p>
<p class="BODYTEXT">
	<span style="font-size: 12px;"><span style="color: rgb(0, 0, 0);"><i>(We regret the error. - Ed.)</i></span></span></p>
<p class="BODYTEXT" style="text-align: center;">
	<span style="font-size:12px;"><span style="color: rgb(0, 0, 0);"><i><br />
	</i></span></span></p>
<p class="MsoNormal" style="text-align: center;">
	<span style="font-size:12px;"><span style="color: rgb(0, 0, 0);"><b><span style="line-height: 115%;">--------------------------------------------------------------------------------------------------</span></b></span></span></p>
<p class="MsoNormal">
	<span style="font-size:14px;"><span><span style="color: rgb(0, 0, 0);"><b><span style="line-height: 115%;"><br />
	</span></b></span></span></span></p>
<p class="BODYTEXT" style="text-indent: 0in;">
	<span style="font-size: 14px;"><span style="color: rgb(0, 0, 0);"><span cond="" demi="" franklin="" gothic="" sans-serif="">Chicks Will Grow</span></span></span></p>
<p class="MsoNormal" style="margin-bottom: 0.0001pt; vertical-align: middle;">
	<span style="font-size: 12px;"><span style="color: rgb(0, 0, 0);"><span aldine401="" bt="" color:="" letter-spacing:="" serif="">T</span><span aldine401="" bt="" color:="" letter-spacing:="" serif="">he Cover Story of January 2011 issue titled as Chicks are Growing put forward a very positive picture of poultry business that is growing by 30 per cent annually. This is the industry at the common people's level and it can be operated in the backyard of village homes. Poultry farming can be done by any farmer or anyone interested. It is not only the source of cash for the farmers but also a contributor to the national economy. The Cover Story says it all: this industry is contributing some three per cent to the GDP.</span></span></span></p>
<p class="MsoNormal" style="margin-bottom: 0.0001pt; vertical-align: middle;">
	<span style="font-size:12px;"><span style="color: rgb(0, 0, 0);"><span aldine401="" bt="" color:="" letter-spacing:="" serif=""><br />
	</span></span></span></p>
<p class="MsoNormal" style="margin-bottom: 0.0001pt; line-height: 11pt; vertical-align: middle;">
	<span style="font-size: 12px;"><span style="color: rgb(0, 0, 0);"><span aldine401="" bt="" color:="" letter-spacing:="" serif="">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; It is good that the Nepali poultry farmers are not so much scared now of the diseases like bird flu as they are now more aware about how to fight such incidences when they appear. Meanwhile, the availability of veterinary doctors and medicines is expanding to help the farmers. The availability of big markets in the urban areas is being utilised by the farmers and this industry provides ample evidence that the Nepali farmers are quite adept to adapt to the changing market situation no matter what their level of education may be. <br />
	</span></span></span></p>
<p class="MsoNormal" style="margin-bottom: 0.0001pt; line-height: 11pt; vertical-align: middle;">
	<span style="font-size:12px;"><span style="color: rgb(0, 0, 0);"><span aldine401="" bt="" color:="" letter-spacing:="" serif=""><br />
	</span></span></span></p>
<p class="MsoNormal" style="margin-bottom: 0.0001pt; line-height: 11pt; vertical-align: middle;">
	<span style="font-size: 12px;"><span style="color: rgb(0, 0, 0);"><span aldine401="" bt="" color:="" letter-spacing:="" serif="">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; However, the story also reveals that the per capita consumption of poultry meat is still low in the country.&nbsp; The consumption of poultry products should be encouraged due to its nutritional value. If that can be done, there is even a bigger market prospects. That means more income for the farmers and also the nation. We should not forget the market in our neighbouring countries as well. The quality products will always get a place everywhere. If food processing industries can be established, agro based and especially poultry related business will benefit the most.</span></span></span></p>
<p class="MsoNormal" style="margin-bottom: 0.0001pt; line-height: 11pt; vertical-align: middle;">
	<span style="font-size:12px;"><span style="color: rgb(0, 0, 0);"><span aldine401="" bt="" color:="" letter-spacing:="" serif=""><br />
	</span></span></span></p>
<p class="MsoNormal">
	<span style="font-size:12px;"><span style="color: rgb(0, 0, 0);"><span aldine401="" bt="" color:="" letter-spacing:="" serif="" style="line-height: 115%;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; The trend shows this industry is growing and there is prospect for more growth. The state must be promoting this sector in all possible ways so as to make this business self-reliant and stronger to become even the international supplier. I believe chicks are growing and will continue to grow in the future too.</span></span></span></p>
<p class="MsoNormal">
	<span style="font-size:12px;"><span style="color: rgb(0, 0, 0);"><span aldine401="" bt="" color:="" letter-spacing:="" serif="" style="line-height: 115%;">&nbsp;</span></span></span></p>
<p class="MsoNormal">
	<span style="font-size:12px;"><span style="color: rgb(0, 0, 0);"><b><span aldine401="" bt="" color:="" serif="">- Rabindra Pudasaini</span><br />
	<span aldine401="" bt="" color:="" serif="" style="line-height: 115%;">Chitwan</span></b></span></span></p>',
			'published' => true,
			'created' => '2011-02-07',
			'modified' => '2012-08-28',
			'keywords' => '',
			'description' => 'There was good news published on January issue of Nubiz about the Laxmi Bank going green. The bank's initiative to encourage staff to ride bicycle to office at least a day in a week is really commendable. That is something every corporate house and......',
			'sortorder' => '142',
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	(int) 12 => array(
		'Article' => array(
			'id' => '203',
			'article_category_id' => '47',
			'title' => 'Weaving Dreams & Carpets',
			'sub_title' => '',
			'summary' => null,
			'content' => '<p class="MsoNormal" style="margin-bottom: 0.0001pt; text-align: justify; line-height: normal;">
	<span style="font-size:12px;"><a href="http://www.newbusinessage.com/ckfinder/userfiles/Images/Senon D Lama.jpg"><img align="left" alt="" border="1" height="385" hspace="3" src="http://www.newbusinessage.com/ckfinder/userfiles/Images/Senon D Lama.jpg" style="width: 257px; height: 385px;margin:10px;padding:10px;" vspace="2" width="257" /></a><span color:="" franklingothic-medium="" sans-serif=""> </span><b><span bright="" color:="" lucida="" serif="">Senon D Lama</span></b></span></p>
<p class="MsoNormal" style="margin-bottom: 0.0001pt; text-align: justify; line-height: normal;">
	<span style="font-size:12px;"><i><span bright="" color:="" lucida="" serif="">Chairman and Managing Director,</span></i></span></p>
<p class="MsoNormal" style="margin-bottom: 0.0001pt; text-align: justify; line-height: normal;">
	<span style="font-size:12px;"><i><span bright="" color:="" lucida="" serif="">Senon Carpet Industries,</span></i></span></p>
<p class="MsoNormal" style="margin-bottom: 0.0001pt; text-align: justify; line-height: normal;">
	<span style="font-size:12px;"><i><span bright="" color:="" lucida="" serif="">Hotel Shahanshah Int'l &amp;</span></i></span></p>
<p class="MsoNormal" style="margin-bottom: 0.0001pt; text-align: justify; line-height: normal;">
	<span style="font-size:12px;"><i><span bright="" color:="" lucida="" serif="">System Holder</span></i></span></p>
<p class="MsoNormal" style="margin-bottom: 0.0001pt; text-align: justify; line-height: normal;">
	<span style="font-size:12px;"><span color:="" franklingothic-medium="" sans-serif="">&nbsp;</span></span></p>
<p class="MsoNormal" style="margin-bottom: 0.0001pt; text-align: justify; line-height: normal;">
	<span style="font-size: 12px;"><span color:="" franklingothic-medium="" sans-serif="">When Senon started his business, the production in Nepal was very low as carpets were imported from India. The market in the beginning was non-challenging. We never had to worry that the products would not be sold. The supply was small and the demand was much higher.â€ Unlike today, his company used to decide on quality, design and size, and the buyers used to buy what was available.</span></span></p>
<p class="MsoNormal" style="margin-bottom: 0.0001pt; text-align: justify; line-height: normal;">
	<span style="font-size:12px;"><span color:="" franklingothic-medium="" sans-serif=""><br />
	</span></span></p>
<p class="MsoNormal" style="margin-bottom: 0.0001pt; text-align: justify; line-height: normal;">
	<span style="font-size: 12px;"><i><span aldine401bt-italica="" serif="">By Gaurav Aryal&nbsp; <br />
	</span></i></span></p>
<p class="MsoNormal" style="margin-bottom: 0.0001pt; text-align: justify; line-height: normal;">
	<span style="font-size:12px;"><i><span aldine401bt-italica="" serif=""><br />
	</span></i></span></p>
<p class="MsoNormal" style="margin-bottom: 0.0001pt; text-align: justify; line-height: normal;">
	<span style="font-size:12px;"><span color:="" franklingothic-heavy="" sans-serif="">W</span><span aldine401bt-romana="" color:="" serif="">hen Senon D Lama stepped into the carpet business, he had just a dozen of looms to weave his passion. Now he is a full-fledged carpet businessman with an annual turnover of USD 1 to 1.5 million a year. He has diversified also in hospitality industries. Thus he is the the Chairman and Managing Director of Senon Carpet Industries Pvt Ltd, Hotel Shahanshah International Pvt Ltd and a sports club called the System Holder Pvt Ltd.</span></span></p>
<p class="MsoNormal" style="margin-bottom: 0.0001pt; text-align: justify; line-height: normal;">
	<span style="font-size:12px;"><br />
	Born at the remote highland village of Lo Gaun in Gorkha district, Lama landed in Kathmandu in early 1960s when he was just about 10 years old. He is sorry that he could not get higher education due to the trouble he had to go through being away from home. So, while he was enrolled for the bachelor's level in management, he started work to earn his living at the age of 22.</span></p>
<p class="MsoNormal" style="margin-bottom: 0.0001pt; text-align: justify; line-height: normal;">
	<span style="font-size:12px;"><span aldine401bt-romana="" color:="" serif=""><br />
	</span></span></p>
<p class="MsoNormal" style="margin-bottom: 0.0001pt; text-align: justify; line-height: normal;">
	<span style="font-size:12px;"><span aldine401bt-romana="" color:="" serif="">Lama had gathered some experience in woollen Nepali carpets business. So, he established his own carpet factory with about a dozen looms at Pulchowk. He also set up three carpet shops at the tourist hubs of Sundhara and Mahabouddha of Kathmandu and at the Golden Gate of Patan. Our primary customers were tourists,â€ he says. Lama claims that he was one of the pioneers in the private sector to begin with a carpet industry.<br />
	<br />
	</span></span></p>
<p class="MsoNormal" style="margin-bottom: 0.0001pt; text-align: justify; line-height: normal;">
	<span style="font-size:12px;"><span aldine401bt-romana="" color:="" serif="">I was, from the very beginning, passionate about colours and designs. I loved to play with them, he recollects the moment he began his career: One of my friends used to own a carpet shop. I used to see him having good time, going to movies and still making money. The tourists would visit his shop and buy the carpets as souvenirs paying handsome amount of money.He remembers yet another friend who was in the restaurant business and was having a tough time pleasing the customers. I compared them one watching movies, chatting and making money while another struggling to maintain his business. So, I ended up in the first business, Lama says. His same friend who owned the carpet shop was also in the car reconditioning business and he asked lama if he could buy the shop. He instantly accepted the offer and bought his friend's shop.<br />
	<br />
	</span></span></p>
<p class="MsoNormal" style="margin-bottom: 0.0001pt; text-align: justify; line-height: normal;">
	<span style="font-size:12px;"><span aldine401bt-romana="" color:="" serif="">His family back home had no idea as to what young Senon was doing. In the third year of the business, his father arrived Kathmandu unannounced.<br />
	<br />
	</span></span></p>
<p class="MsoNormal" style="margin-bottom: 0.0001pt; text-align: justify; line-height: normal;">
	<span style="font-size:12px;"><span aldine401bt-romana="" color:="" serif="">Seeing me travelling mostly by taxi, my father said I squander a lot of money At the same time, he was tremendously delighted as well as shocked to see that I was simultaneously operating three shops at three different locations of the city.<br />
	<br />
	</span></span></p>
<p class="MsoNormal" style="margin-bottom: 0.0001pt; text-align: justify; line-height: normal;">
	<span style="font-size:12px;"><span aldine401bt-romana="" color:="" serif="">When Lama started his business, the production in Nepal was very low as carpets were imported from India. The market in the beginning was nonchallenging. We never had to worry that the products would not be sold. The supply was small and the demand was much higher. Unlike today, his company used to decide on quality, design and size, and the buyers used to buy what was available. Gradually Nepal made carpets started to be viewed as fahion items. The foreigners were using them not as floorings but as pieces of art hung on the wall. International designers then started coming in with their own designs mostly the western ones.<br />
	<br />
	<br />
	In the beginning of 1980s, the export of carpet kicked off. And Lama's business took off the major flight in 1982 when a big warehouse bought all the carpets from all his three shops. Lama never had to look back since then. In 1983, I did not have the time to pay attention to my local shops, as I was focused on the export business. His company, named as Senon Enterprise, expanded in the following years. In 1988, the company was renamed as Senon Carpet Industries.<br />
	<br />
	</span></span></p>
<p class="MsoNormal" style="margin-bottom: 0.0001pt; text-align: justify; line-height: normal;">
	<span style="font-size:12px;"><span aldine401bt-romana="" color:="" serif="">Lama's success reached a new height during the 1990s when the number of employees working for him reached 1400. Comparing the situation then and now, Lama says, There used to be the mass production and mass export then. Today's business is mostly order-based.<br />
	<br />
	</span></span></p>
<p class="MsoNormal" style="margin-bottom: 0.0001pt; text-align: justify; line-height: normal;">
	<span style="font-size:12px;"><span aldine401bt-romana="" color:="" serif="">He reveals that his company is now working for the year 2012. We completed our production last year for 2011 and the catalogue for that was ready in September 2010. Catalogue for 2012 </span><span aldine401bt-romana="" serif="">will be ready in 2011 September. He further says the planning and research for the design for 2013 is going on. He himself goes through hundreds of designs and decides which of them would suit for which of the quality of the carpets he will produce. We have to go into serious research before making any commitment. <br />
	<br />
	</span></span></p>
<p class="MsoNormal" style="margin-bottom: 0.0001pt; text-align: justify; line-height: normal;">
	<span style="font-size:12px;"><span aldine401bt-romana="" serif="">The wage rate, the labour law, and the price of the raw material have to be speculated for the coming years before making such commitment, he says.<br />
	<br />
	</span></span></p>
<p class="MsoNormal" style="margin-bottom: 0.0001pt; text-align: justify; line-height: normal;">
	<span style="font-size:12px;"><span aldine401bt-romana="" serif="">Today, Lama exports his carpets to Germany, the Netherlands, UK, USA, Mexico, Japan, and Australia, to name a few. From these destinations, the same carpets are exported to other countries as well.<br />
	<br />
	</span></span></p>
<p class="MsoNormal" style="margin-bottom: 0.0001pt; text-align: justify; line-height: normal;">
	<span style="font-size:12px;"><span aldine401bt-romana="" serif="">Apart from the carpet industry, Lama is also the proud owner of Hotel Shahanshah, System Holder, a sports club and some real estate businesses. Besides, he is into social work too. No matter how many ventures I do have, carpet business is the most precious one and close to my life. I am never going to detach it from my life though I may have to return back to a dozen looms again, he says. This is my religion. This business cannot be evaluated on mere profit and loss.<br />
	<br />
	</span></span></p>
<p class="MsoNormal" style="margin-bottom: 0.0001pt; text-align: justify; line-height: normal;">
	<span style="font-size:12px;"><span aldine401bt-romana="" serif="">For Lama, failure is not the reason to regret. He says he never regrets his past. He feels blessed to be able to see the whole world, though born in one of the remotest corners of the world. The excitement he had when he first bought the motorbike is the moment he never forgets. When I first bought my motorbike, I was so excited and felt the sense of&nbsp;&nbsp; achievement. I don't feel the same when I buy a new car now.Lama says work is his passion and hobby. He enjoys his work as much as the sports like football and hockey. There are professionals to look after his other businesses, but in the carpet business he insists to go through every minutest detail on his own. He has never fired any worker till date. He credits his success to his workers. He pays his staff at the production line on the weekly basis while those in other lines are paid on monthly basis. Altogether 700 persons work for him now though this number was about 1400 in the 1990s.<br />
	<br />
	</span></span></p>
<p class="MsoNormal" style="margin-bottom: 0.0001pt; text-align: justify; line-height: normal;">
	<span style="font-size:12px;"><span aldine401bt-romana="" serif="">Lama has worked for 36 years and says, every day, I have spent 12 to 16 hours in my work. He is already 60 but has not thought of retiring. I'm not tired, so no question of being retired, he quips. Retirement kills you psychologically, makes body slow and reduces the stamina.â€ He thinks he can work for the next 15 years.<br />
	<br />
	</span></span></p>
<p class="MsoNormal" style="margin-bottom: 0.0001pt; text-align: justify; line-height: normal;">
	<span style="font-size:12px;"><span aldine401bt-romana="" serif="">Lama says human body is a temple. We have to worship it. We should not put junks into it, he says revealing the secret of being healthy. Another secret is his regimen of physical exercises. In olde days, he used to spend at least one and half hour a day in sports. He used to wake up at 4 in the morning and rush to the tennis court at The Everest Hotel. Currently, he is spending at least 30 to 40 minutes a day exercising. In his free time, he loves listening to music of all genre from Nepali to English pops to fast beats. He says he is not able to give a lot of time to his family. He sometimes works on Saturdays too. I want to see them laughing. I have to listen to everybody to make them happy. Sometimes, there is a conflict of interest. But I try to address everyone's wishes, he says.<br />
	<br />
	</span></span></p>
<p class="MsoNormal" style="margin-bottom: 0.0001pt; text-align: justify; line-height: normal;">
	<span style="font-size:12px;"><span aldine401bt-romana="" serif="">Lama has plans to expand his business in the promising tourism sector. Now I have almost 12 years of experience in the hotel industry. I am quite confident about expanding it. Most probably he will set up a spa.&nbsp; </span></span></p>
<p class="MsoNormal" style="margin-bottom: 0.0001pt; text-align: justify; line-height: normal;">
	<span style="font-size:12px;"><span aldine401bt-romana="" serif="">&nbsp;</span></span></p>
<p class="MsoNormal" style="margin-bottom: 0.0001pt; text-align: justify; line-height: normal;">
	<span style="font-size:12px;"><strong><span style="color: rgb(178, 34, 34);"><span color:="" franklingothic-heavy="" sans-serif="">PERSONAL SIDE</span></span></strong></span></p>
<ul>
	<li>
		<span style="font-size:12px;"><span franklingothic-medium="" sans-serif="">Loves music. Narayan Gopal is his favourite Nepali artist. He also listens to Celine Dion, Mariah Carey, Eric Clapton, Bryan Adams and Michael Jackson among others</span><br />
		</span></li>
	<li>
		<span style="font-size:12px;"><span franklingothic-medium="" sans-serif="">Likes collecting magazines from around the world </span><br />
		</span></li>
	<li>
		<span style="font-size:12px;"><span franklingothic-medium="" sans-serif="">Tennis, squash, bowling are his favourite sports </span><br />
		</span></li>
	<li>
		<span style="font-size:12px;"><span franklingothic-medium="" sans-serif="">Does not have passion for books but dreams to read them in future </span><br />
		</span></li>
	<li>
		<span style="font-size:12px;"><span franklingothic-medium="" sans-serif="">Not brand conscious, very casual</span><br />
		</span></li>
	<li>
		<span style="font-size:12px;"><span franklingothic-medium="" sans-serif="">Likes cars and currently drives Toyota Prado</span><br />
		</span></li>
	<li>
		<span style="font-size:12px;"><span franklingothic-medium="" sans-serif="">Has driven fi ve different bikes until now </span><br />
		</span></li>
	<li>
		<span style="font-size:12px;"><span franklingothic-medium="" sans-serif="">Also involved in social activities <br />
		</span><br />
		</span></li>
</ul>',
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			'description' => 'When Senon started his business, the production in Nepal was very low as carpets were imported from India. The market in the beginning was non-challenging. We never had to worry that the products would not be sold. The supply was small and the demand was much higher. Unlike today, his company used to decide on quality,',
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			'article_category_id' => '48',
			'title' => 'Where Is CEO Charisma ?',
			'sub_title' => '',
			'summary' => null,
			'content' => '<p class="MsoNormal" style="text-align: justify;">
	<span style="font-size:12px;"><i><span bright="" lucida="" serif="" style="line-height: 115%;"><a href="http://www.newbusinessage.com/ckfinder/userfiles/Images/small.jpg" target="_blank"><img align="left" alt="nolaughingmatter" border="1" height="143" hspace="5" src="http://www.newbusinessage.com/ckfinder/userfiles/Images/small.jpg" style="width: 105px; height: 143px;margin:10px;padding:10px;" vspace="5" width="105" /></a></span></i></span></p>
<p class="MsoNormal" style="margin-bottom: 0.0001pt; text-align: justify; line-height: normal;">
	<span style="font-size: 12px;"><i><span bright="" lucida="" serif="" style="line-height: 115%;">&nbsp;</span></i><span color:="" franklingothic-heavy="" sans-serif="">T</span><span aldine401bt-romana="" color:="" serif="">he very recent hot topic for news in our media has been the pay of CEOs in bank and financial institutions. No sooner the central bank issued a notice called directive, the wowed aspects of their pay spilled to the public gaze. CEOs started to cry a foul by the central bank in the D area of their respective bank boards. NRB people tried to defend their move claiming nothing less than ˜this directive will not have any effect to the pay CEOs are now enjoying. But this neither stopped the media hype nor did the crying pitch of CEOs reduce. <br />
	</span></span></p>
<p class="MsoNormal" style="margin-bottom: 0.0001pt; text-align: justify; line-height: normal;">
	<span style="font-size:12px;"><span aldine401bt-romana="" color:="" serif=""><br />
	</span></span></p>
<p class="MsoNormal" style="margin-bottom: 0.0001pt; text-align: justify; line-height: normal;">
	<span style="font-size: 12px;"><span aldine401bt-romana="" color:="" serif="">You may wonder what is so big deal about it? Why is everyone from the governor of Nepal Rastra Bank and the government secretaries to the media after the CEO's salary? Are CEOs really overpaid? For that matter, are the rank-and-file workers underpaid? <br />
	</span></span></p>
<p class="MsoNormal" style="margin-bottom: 0.0001pt; text-align: justify; line-height: normal;">
	<span style="font-size:12px;"><span aldine401bt-romana="" color:="" serif=""><br />
	</span></span></p>
<p class="MsoNormal" style="margin-bottom: 0.0001pt; text-align: justify; line-height: normal;">
	<span style="font-size: 12px;"><span aldine401bt-romana="" color:="" serif="">Only in a cursory look, one may find that it is not the question of CEOs getting less or more but the fact of the matter is : these CEOs are simply uncharismatic and don't know how to buy great things with small pay. Lack of this quality in them raises larger question of would these people at the helm help the institution earn more by spending less. <br />
	</span></span></p>
<p class="MsoNormal" style="margin-bottom: 0.0001pt; text-align: justify; line-height: normal;">
	<span style="font-size:12px;"><span aldine401bt-romana="" color:="" serif=""><br />
	</span></span></p>
<p class="MsoNormal" style="margin-bottom: 0.0001pt; text-align: justify; line-height: normal;">
	<span style="font-size: 12px;"><span aldine401bt-romana="" color:="" serif=""><a href="http://www.newbusinessage.com/ckfinder/userfiles/Images/no laughin.jpg" target="_self"><img align="left" alt="nolaughingmatter" border="1" height="198" hspace="5" src="http://www.newbusinessage.com/ckfinder/userfiles/Images/no laughin.jpg" style="width: 217px; height: 198px;margin:10px;padding:10px;" vspace="5" width="217" /></a>Take an example of a government section officer or an undersecretary; he might hardly draw more than Rs. fifteen thousand a month. But in five years, he will have at least a new house in Kathmandu, a four wheeler and a wife who wears ornaments of a few hundred thousand, if not millions, rupees.</span></span></p>
<p class="MsoNormal" style="margin-bottom: 0.0001pt; text-align: justify; line-height: normal;">
	<span style="font-size:12px;"><span aldine401bt-romana="" color:="" serif=""><br />
	</span></span></p>
<p class="MsoNormal" style="margin-bottom: 0.0001pt; text-align: justify; line-height: normal;">
	<span style="font-size: 12px;"><span aldine401bt-romana="" color:="" serif="">And, the most important thing is, he never complaints about the salary, and the government unlike the Rastra Bank does not send out a memo to reduce his pay. Why can't these folks called CEOs have that sort of creative acumen to manage things like that on their own? They surely lack ability to manage and choose to beg at least not to cut what they get. <br />
	</span></span></p>
<p class="MsoNormal" style="margin-bottom: 0.0001pt; text-align: justify; line-height: normal;">
	<span style="font-size:12px;"><span aldine401bt-romana="" color:="" serif=""><br />
	</span></span></p>
<p class="MsoNormal" style="margin-bottom: 0.0001pt; text-align: justify; line-height: normal;">
	<span style="font-size: 12px;"><span aldine401bt-romana="" color:="" serif="">By now it is evident that our CEOs are unable to pull and pool the recourses. Even worse, they don't learn from the big people. Look at how our supply minister manages his supply of petrol free of cost from the Oil Corporation. And how unremorsefully the chief of the Corporation, who is also the CEO of another breed, helps meet the end of his patron is more of a lesson. Having seen so many deficiencies in them, it is hard to believe that most CEOs in Nepal's BF's are intelligent, have advanced degrees often from one of the top universities in the world and work some sixty or more hours a week. <br />
	</span></span></p>
<p class="MsoNormal" style="margin-bottom: 0.0001pt; text-align: justify; line-height: normal;">
	<span style="font-size:12px;"><span aldine401bt-romana="" color:="" serif=""><br />
	</span></span></p>
<p class="MsoNormal" style="margin-bottom: 0.0001pt; text-align: justify; line-height: normal;">
	<span style="font-size: 12px;"><span aldine401bt-romana="" color:="" serif="">Therefore, to convince at least to their hawkish supervisor called Ratra Bank that they are deserving enough to draw a handsome salary and perks, these CEOs must mend their ways that suits the indigenous soil. They must stop demanding this and that facility or mercy from the Rastra Bank. Instead, they can learn from the supervisors there. Drawing salary purse from the office, many NRB supervisors spend their day dealing with personal business of bonds or share trade or reaches to the political mentor of the choice. Effectively, s/he would earn in a day what a CEO earns in a month. Isnt it something to be inspired about ? <br />
	</span></span></p>
<p class="MsoNormal" style="margin-bottom: 0.0001pt; text-align: justify; line-height: normal;">
	<span style="font-size: 12px;"><span aldine401bt-romana="" color:="" serif=""><br />
	</span></span></p>
<p class="MsoNormal" style="margin-bottom: 0.0001pt; text-align: justify; line-height: normal;">
	 </p>
<p class="MsoNormal" style="margin-bottom: 0.0001pt; text-align: justify; line-height: normal;">
	<span style="font-size:12px;"><span aldine401bt-romana="" color:="" serif=""><br />
	</span></span></p>',
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			'created' => '2011-01-16',
			'modified' => '2012-09-16',
			'keywords' => '',
			'description' => 'The very recent hot topic for news in our media has been the pay of CEOs in bank and financial institutions. No sooner the central bank issued a notice called directive, the wowed aspects of their pay spilled to the public gaze. CEOs started to cry a foul by the central bank in the D area',
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			'title' => 'Gopal Sunder Lal Kakshapati',
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<p class="MsoNormal" style="margin-bottom: 0.0001pt; text-align: justify; line-height: normal;">
	<strong><span style="font-size: 12px;"><span style="color: rgb(0, 0, 0);"><span style="background-color: rgb(240, 255, 240);">'I See Prospects in Herbs, Tourism and of course, Carpet'</span></span></span></strong></p>
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	<strong><span style="font-size: 12px;"><span style="color: rgb(0, 0, 0);"><br />
	<img alt="" border="1" height="270" hspace="5" src="http://newbusinessage.com/ckfinder/userfiles/Images/572699_512919295_905742336_n.jpg" vspace="5" width="180" /><br />
	<br />
	</span></span></strong></p>
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	<span style="font-size: 12px;"><span style="color: rgb(0, 0, 0);"><em>Gopal Sunder Lal Kakshapati is the newly elected President of Nepal-German Chamber of Commerce and Industry (NGCCI). Kakshapati, in an interview with Nubiz, says his basic priority would be to revive and maintain the old trade surplus figure that Nepal had been enjoying in the past with Germany, now a key member of the European Union. With the nose-diving of carpet and garment exports, Nepal has nothing much to offer to German market. Still, Kakshapati is hopeful that the branding of some of Nepal's food products such as tea and coffee and attracting more German tourists to Nepal can still help get the old trade figures back. Excerpts:</em></span></span></p>
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	<span style="font-size: 12px;"><span style="color: rgb(0, 0, 0);"><em><br />
	</em></span></span></p>
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	<strong><span style="font-size: 12px;"><span style="color: rgb(0, 0, 0);">What is your new vision as the new president of Nepal-German Chamber of Commerce and Industry?</span></span></strong></p>
<p class="MsoNormal" style="margin-bottom: 0.0001pt; text-align: justify; line-height: normal;">
	<strong><span style="font-size: 12px;"><span style="color: rgb(0, 0, 0);"><br />
	</span></span></strong></p>
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	<span style="font-size: 12px;"><span style="color: rgb(0, 0, 0);">I have segregated it into two parts. The chamber is 18 years old. Some of its legacies I have to carry on. I cannot opt out of the regular programmes the Chamber has been doing. For example, the Chamber has been promoting Nepal's tourism in Germany since 1994. It is called CMT Caravan Motor Touristic. It is a very popular fair in Germany. More than one million people visit the fair each year. So, it must continue. Besides, there are some other regular programmes which I will continue. That is the first part of my aim. As for the new vision, I want to expand whatever economic ties exist between Nepal and Germany. If you look at the overall figures for the past one year or two, our overall trade balance has not been in our favour. But Germany is one country with which we have trade surplus. But the margin of that surplus is now decreasing. I want to bring it back at least to the old figures. That is my main aim.</span></span></p>
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	<span style="font-size:12px;"><span style="color: rgb(0, 0, 0);"><br />
	</span></span></p>
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	<span style="font-size: 12px;"><span style="color: rgb(0, 0, 0);">Germans are looking for new products from Nepal. For example, Nepali tea and coffee have entered into the German market but lack effective branding. I would like to brand it as Nepali tea or Nepali coffee. I see a scope there. Likewise, we are always talking about Nepali herbal and similar products. Herbal is one product which a lot of developed countries are eyeing on. Nepal is so rich in herbal resources. If we produce and market it, Germany would be one of the very popular destinations for these products.</span></span></p>
<p class="MsoNormal" style="margin-bottom: 0.0001pt; text-align: justify; line-height: normal;">
	<span style="font-size:12px;"><span style="color: rgb(0, 0, 0);"><br />
	</span></span></p>
<p class="MsoNormal" style="margin-bottom: 0.0001pt; text-align: justify; line-height: normal;">
	<span style="font-size: 12px;"><span style="color: rgb(0, 0, 0);">Similarly, besides exporting to Germany, I want to work on capacity building in the country to export different products from Nepal. The Chamber has the past history of such works. For example, it organised a tea seminar in Ilam some years ago. We invited experts from Germany one as the market expert and another as the product expert. These experts directly interacted with the tea producers regarding the choice of taste of Germans and market situation there. That proved very effective. I want to do the same for other products also, for example, herbal, as I have mentioned. <br />
	</span></span></p>
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	<span style="font-size:12px;"><span style="color: rgb(0, 0, 0);"><br />
	</span></span></p>
<p class="MsoNormal" style="margin-bottom: 0.0001pt; text-align: justify; line-height: normal;">
	<span style="font-size: 12px;"><span style="color: rgb(0, 0, 0);">Nepal's herbal products are yet to be processed and branded well. In the case of coffee too, we have to enhance our quality. Today, it is soothing to see professionals involved in coffee production. The bottom-line again is that we have to increase the quantity and improve the quality. When we work with a developed country, quality is always the first priority to have an access into their market.</span></span></p>
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	<span style="font-size:12px;"><span style="color: rgb(0, 0, 0);"><br />
	</span></span></p>
<p class="MsoNormal" style="margin-bottom: 0.0001pt; text-align: justify; line-height: normal;">
	<span style="font-size: 12px;"><span style="color: rgb(0, 0, 0);">During my travel to Germany I found that Nepali business community has not been able to explore the existing opportunities in terms of machinery, information, etc. There are only a handful who have done so. I think Nepali businessmen should also go to the expos in the places in Germany so as to learn things and gain expertise. Therefore, I am also in favour of promoting exchange visits of business people between the two countries.</span></span></p>
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	<span style="font-size:12px;"><span style="color: rgb(0, 0, 0);"><br />
	</span></span></p>
<p class="MsoNormal" style="margin-bottom: 0.0001pt; text-align: justify; line-height: normal;">
	<strong><span style="font-size: 12px;"><span style="color: rgb(0, 0, 0);">How do you think the Nepal Germany trade relation can be made favourable to Nepal? <br />
	</span></span></strong></p>
<p class="MsoNormal" style="margin-bottom: 0.0001pt; text-align: justify; line-height: normal;">
	<strong><span style="font-size:12px;"><span style="color: rgb(0, 0, 0);"><br />
	</span></span></strong></p>
<p class="MsoNormal" style="margin-bottom: 0.0001pt; text-align: justify; line-height: normal;">
	<span style="font-size: 12px;"><span style="color: rgb(0, 0, 0);">As I said earlier, Germany is one country where Nepal has trade surplus. But we should not be content with whatever trade figure we have. The Chamber in the past has worked with DIHL which is the authority in Germany to expand trade relation between any countries. When I visited their office in Germany, I found that they have given very tiny space to Nepal. They showed me the huge trade volume they had with China. Through the exchange of visits and co-work among various chambers in Germany, I think we may be able to increase the trade prospects of Nepal. <br />
	</span></span></p>
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	<span style="font-size:12px;"><span style="color: rgb(0, 0, 0);"><br />
	</span></span></p>
<p class="MsoNormal" style="margin-bottom: 0.0001pt; text-align: justify; line-height: normal;">
	<strong><span style="font-size: 12px;"><span style="color: rgb(0, 0, 0);">Even the European countries are removing Nepal from the list of â€œpreferential trading partner very shortly. How can your Chamber contribute to retaining Nepal's status as a beneficiary of developing country concession of EU?</span></span></strong></p>
<p class="MsoNormal" style="margin-bottom: 0.0001pt; text-align: justify; line-height: normal;">
	<strong><span style="font-size:12px;"><span style="color: rgb(0, 0, 0);"><br />
	</span></span></strong></p>
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	<span style="font-size: 12px;"><span style="color: rgb(0, 0, 0);">Yes, I also heard that. It is an agenda for me to talk with the EU representatives in Nepal first and find out what was the reason behind it. There could be so many reasons, and I will work on how to address the situation. First and the foremost, I must know the reasons. After that, we the Chamber and other organisations like the carpet association, etc can lobby together. I will also work closely with German development institutions like GTZ. We, as individual organisations and with others jointly, will lobby to retain our position in the EU.</span></span></p>
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	<span style="font-size:12px;"><span style="color: rgb(0, 0, 0);"><br />
	</span></span></p>
<p class="MsoNormal" style="margin-bottom: 0.0001pt; text-align: justify; line-height: normal;">
	<strong><span style="font-size: 12px;"><span style="color: rgb(0, 0, 0);">Nepal-German Chamber of Commerce and Industry is one the oldest bilateral chambers in Nepal. How do you view its achievements?</span></span></strong></p>
<p class="MsoNormal" style="margin-bottom: 0.0001pt; text-align: justify; line-height: normal;">
	<strong><span style="font-size:12px;"><span style="color: rgb(0, 0, 0);"><br />
	</span></span></strong></p>
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	<span style="font-size: 12px;"><span style="color: rgb(0, 0, 0);">I think it was the first bi-national chamber in Nepal. The establishment of the Chamber introduced the concept of bi-national chambers in our country. Some 18 years ago, nobody thought of a bi-national chamber could be so important. One of the major achievements of the Chamber is that we have been able to join hands with various German trade bodies and even development agencies like GTZ. The Chamber has enhanced and promoted ties between Nepal and Germany. An example is tourism. The Chamber has been instrumental in the arrival of German tourists in Nepal as well for expanding market of Nepali products such as carpet and garment in Germany. From time and again, we have been taking business delegations to Germany. Such steps are helpful in strengthening trade links.</span></span></p>
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	<span style="font-size:12px;"><span style="color: rgb(0, 0, 0);"><br />
	</span></span></p>
<p class="MsoNormal" style="margin-bottom: 0.0001pt; text-align: justify; line-height: normal;">
	<strong><span style="font-size: 12px;"><span style="color: rgb(0, 0, 0);">Most of the economic activities in EU seem to be consolidated under EU umbrella. Do you think the bilateral trade relations of a country like Nepal with individual member countries of EU hold long term importance?</span></span></strong></p>
<p class="MsoNormal" style="margin-bottom: 0.0001pt; text-align: justify; line-height: normal;">
	<strong><span style="font-size:12px;"><span style="color: rgb(0, 0, 0);"><br />
	</span></span></strong></p>
<p class="MsoNormal" style="margin-bottom: 0.0001pt; text-align: justify; line-height: normal;">
	<span style="font-size: 12px;"><span style="color: rgb(0, 0, 0);">Though EU has certain umbrella policies, bilateral trade&nbsp;&nbsp; relations too hold importance. There are layer of two policies in EU: one is at macro level, i.e., the umbrella policy, and another at the micro-level, i.e., the individual country's policies. Both policies work together. I don't think the situation will change so drastically in a very short period of time. Our chamber has a direct link to the German trade bodies. Of course, there is a big umbrella called EU but within that big umbrella, there are small umbrellas too. <br />
	</span></span></p>
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	<span style="font-size:12px;"><span style="color: rgb(0, 0, 0);"><br />
	</span></span></p>
<p class="MsoNormal" style="margin-bottom: 0.0001pt; text-align: justify; line-height: normal;">
	<strong><span style="font-size: 12px;"><span style="color: rgb(0, 0, 0);">What do you think are the areas Nepal can benefit in the trade with Germany?</span></span></strong></p>
<p class="MsoNormal" style="margin-bottom: 0.0001pt; text-align: justify; line-height: normal;">
	<strong><span style="font-size:12px;"><span style="color: rgb(0, 0, 0);"><br />
	</span></span></strong></p>
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	<span style="font-size: 12px;"><span style="color: rgb(0, 0, 0);">If we talk about trade from Germany to Nepal, there are so many factors. We have members who have the business of &nbsp;German medical equipments in Nepal. And there is possibility of cooperation in hydroelectricity development. There are so many other sectors like Information Technology, in which Nepal can attract investments. Germany being a highly developed country, Nepal can learn many things from it.</span></span></p>
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	<span style="font-size:12px;"><span style="color: rgb(0, 0, 0);"><br />
	</span></span></p>
<p class="MsoNormal" style="margin-bottom: 0.0001pt; text-align: justify; line-height: normal;">
	<strong><span style="font-size: 12px;"><span style="color: rgb(0, 0, 0);">Despite our almost half a century long trade relation, where do you think Nepal lacked taking advantage from the German market?</span></span></strong></p>
<p class="MsoNormal" style="margin-bottom: 0.0001pt; text-align: justify; line-height: normal;">
	<strong><span style="font-size:12px;"><span style="color: rgb(0, 0, 0);"><br />
	</span></span></strong></p>
<p class="MsoNormal" style="margin-bottom: 0.0001pt; text-align: justify; line-height: normal;">
	<span style="font-size: 12px;"><span style="color: rgb(0, 0, 0);">I think, what Nepal lacks is its own confidence. The political and social situations, among other factors, are responsible for that. We have not been able to use the potentials that the German cooperation offers to us. A number of joint venture companies have shut down because of our own reasons, such as the lack of security. We have a recent example. One executive member who had been manufacturing garments shifted his office elsewhere from the previous location owing to violence and security lapses. So, there indeed was opportunity which we could not simply tap.</span></span></p>
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	<span style="font-size:12px;"><span style="color: rgb(0, 0, 0);"><br />
	</span></span></p>
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	<strong><span style="font-size: 12px;"><span style="color: rgb(0, 0, 0);">What are the major export items of Nepal to Germany? <br />
	</span></span></strong></p>
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	<strong><span style="font-size:12px;"><span style="color: rgb(0, 0, 0);"><br />
	</span></span></strong></p>
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	<span style="font-size: 12px;"><span style="color: rgb(0, 0, 0);">If you look at the old data, 80 per cent of the trade is occupied by carpet and garment. Gradually, food market such as tea and coffee is also coming in. Nepal has very limited products to export. We have to increase their quality. We don't have much choice.</span></span></p>
<p class="MsoNormal" style="margin-bottom: 0.0001pt; text-align: justify; line-height: normal;">
	<span style="font-size:12px;"><span style="color: rgb(0, 0, 0);"><br />
	</span></span></p>
<p class="MsoNormal" style="margin-bottom: 0.0001pt; text-align: justify; line-height: normal;">
	<strong><span style="font-size: 12px;"><span style="color: rgb(0, 0, 0);">What are the challenges in Nepal-German trade?</span></span></strong></p>
<p class="MsoNormal" style="margin-bottom: 0.0001pt; text-align: justify; line-height: normal;">
	<strong><span style="font-size: 12px;"><span style="color: rgb(0, 0, 0);"><br />
	</span></span></strong></p>
<p class="MsoNormal" style="margin-bottom: 0.0001pt; text-align: justify; line-height: normal;">
	<span style="font-size: 12px;"><span style="color: rgb(0, 0, 0);">The most pertinent challenges are seen in the tourism sector. If we compare the data of German tourists arrival in Nepal, it was 45 to 55 thousand in 1998. Now it has decreased to 20 to 25 thousand only. It is the biggest challenge why have we not been able to attract German tourists as in the 1990s or the 80s? Second challenge is on retaining the market for our carpet. Its export has now nosedived compared to the previous years.</span></span></p>
<p class="MsoNormal" style="margin-bottom: 0.0001pt; text-align: justify; line-height: normal;">
	<span style="font-size:12px;"><span style="color: rgb(0, 0, 0);"><br />
	</span></span></p>
<p class="MsoNormal" style="margin-bottom: 0.0001pt; text-align: justify; line-height: normal;">
	<strong><span style="font-size: 12px;"><span style="color: rgb(0, 0, 0);">Do you have German collaboration in your business too?</span></span></strong></p>
<p class="MsoNormal" style="margin-bottom: 0.0001pt; text-align: justify; line-height: normal;">
	<strong><span style="font-size:12px;"><span style="color: rgb(0, 0, 0);"><br />
	</span></span></strong></p>
<p class="MsoNormal" style="margin-bottom: 0.0001pt; text-align: justify; line-height: normal;">
	<span style="font-size: 12px;"><span style="color: rgb(0, 0, 0);">My primary business is restaurant and I have investments in a bank, among other sectors. At present, I am working with German companies on new products. So basically I'm a restaurateur. I joined the Chamber in the 1990s, as I was asked to. Earlier, I had a travel agency, so my keen interest is in tourism. So I hope to promote tourism along with other sectors being in the Chamber. <br />
	</span></span></p>
<p class="MsoNormal" style="margin-bottom: 0.0001pt; text-align: justify; line-height: normal;">
	<span style="font-size:12px;"><span style="color: rgb(0, 0, 0);"><br />
	</span></span></p>
<p class="MsoNormal" style="margin-bottom: 0.0001pt; text-align: justify; line-height: normal;">
	<strong><span style="font-size: 12px;"><span style="color: rgb(0, 0, 0);">How do you foresee the Nepal-German economic ties in the longer run?</span></span></strong></p>
<p class="MsoNormal" style="margin-bottom: 0.0001pt; text-align: justify; line-height: normal;">
	<strong><span style="font-size:12px;"><span style="color: rgb(0, 0, 0);"><br />
	</span></span></strong></p>
<p class="MsoNormal" style="margin-bottom: 0.0001pt; text-align: justify; line-height: normal;">
	<span style="font-size:12px;"><span style="color: rgb(0, 0, 0);">The relation between two countries is of course fundamentally economic and I think this kind of bi-national chamber always helps to promote trade. As of now, we have 22 or 23 bi-national chambers. Nepali business community should have this kind of platform that helps make an easier access into business-related information and facilitation in the counterpart country.</span></span></p>
<p>
	<span style="font-size: 12px;"><span style="color: rgb(0, 0, 0);">&nbsp;</span></span></p>
<p>
	<span style="font-size:12px;"><span style="color: rgb(0, 0, 0);"><br />
	</span></span></p>
<p class="MsoNormal" style="margin-bottom: 0.0001pt; text-align: justify; line-height: normal;">
	<strong><span style="font-size: 12px;"><span style="color: rgb(0, 0, 0);">Facts and Figures:</span></span></strong></p>
<p class="MsoNormal" style="margin-bottom: 0.0001pt; text-align: justify; line-height: normal;">
	<strong><span style="font-size:12px;"><span style="color: rgb(0, 0, 0);"><br />
	</span></span></strong></p>
<ul>
	<li>
		<span style="font-size:12px;"><span style="color: rgb(0, 0, 0);"><span color:="">Germany is one of the biggest export markets for Nepal and ranked 4th after India, USA and Bangladesh. During the FY 2009/10, the Nepali export to Germany could maintain favourable trade position but the export volume decreased by Rs 2,391 million, 14.1 per cent less compared to the previous year. <br />
		</span></span></span></li>
	<li>
		<span style="font-size:12px;"><span style="color: rgb(0, 0, 0);"><span color:="">Nepal's overall exports declined in FY 2009/10 by 11.1 per cent to Rs 60.9 billion whereas imports continued to increase by 29.1 per cent to Rs 375.6 billion. This development has further widened the overall trade deficit which was about Rs 314.7 billion (+41.5%) in FY 2009/10.<br />
		</span></span></span></li>
	<li>
		<span style="font-size:12px;"><span style="color: rgb(0, 0, 0);"><span color:="">Due to the decline of exports, the overall Nepal-German foreign trade has also slightly declined in the FY 2009/10. The total bilateral trade fell from Rs 5,029 million to Rs 4,713 million a decline of 6.3 per cent compared to the previous year. Imports from Germany rose by 3.5 per cent compared to FY 2008/09 to Rs 2,322 million.<br />
		</span></span></span></li>
	<li>
		<span style="font-size:12px;"><span style="color: rgb(0, 0, 0);"><span color:="">Germany is one of the few countries with a positive trade balance for Nepal (after Bangladesh, Bhutan and Canada) although the trade balance came down from a comfortable surplus of Rs 541 million in FY 2008/09 to Rs 69 million in FY 2009/10.<br />
		</span></span></span></li>
	<li>
		<span style="font-size: 12px;"><span style="color: rgb(0, 0, 0);"><span color:="">Exports to Germany In FY 2009/10, the decline of exports to Germany was caused by a decline in Textiles, clothing and accessories (9.6%), Food (19.0%) and Others <br />
		</span></span></span></li>
</ul>
<p class="MsoNormal" style="margin-bottom: 0.0001pt; text-align: justify; line-height: normal;">
	<span style="font-size:12px;"><span style="color: rgb(0, 0, 0);"><span color:=""><br />
	</span></span></span></p>
<p>
	<strong><span style="font-size:12px;"><span style="color: rgb(0, 0, 0);"><br />
	</span></span></strong></p>
<p class="MsoNormal" style="margin-bottom: 0.0001pt; text-align: justify; line-height: normal;">
	<strong><span style="font-size: 12px;"><span style="color: rgb(0, 0, 0);">Nepal-German Foreign Trade</span></span></strong></p>
<p class="MsoNormal" style="margin-bottom: 0.0001pt; text-align: justify; line-height: normal;">
	<strong><span style="font-size: 12px;"><span style="color: rgb(0, 0, 0);"><br />
	</span></span></strong></p>
<p class="MsoNormal" style="margin-bottom: 0.0001pt; text-align: justify; line-height: normal;">
	<span style="font-size: 12px;"><span style="color: rgb(0, 0, 0);">(52.6%). The export of carpets almost 60 per cent of the total exports to Germany further dropped down from Rs 1.53 billion to Rs 1.42 billion. It was a decline of 6.8 per cent. Germany is one of the biggest export markets for Nepalese carpet industry. It ranked second after the USA. The exports of woolen shawls decreased by 39.7 per cent (Rs 242.1 million) while exports of clothing slightly increased by 3.5 per cent (Rs 270.8 million) in comparison to the previous year. The decline in food exports to Germany were caused by decreasing exports of lentils, coffee and spices while the exports of tea (13.3%) and medical plants further increased. Germany, with an export volume of Rs 33.2 million, is the second biggest export market for Nepalese tea mainly the orthodox tea after India. The exports of paintings came down by 69.4 per cent to Rs 75.4 million. <br />
	</span></span></p>
<p class="MsoNormal" style="margin-bottom: 0.0001pt; text-align: justify; line-height: normal;">
	<span style="font-size:12px;"><span style="color: rgb(0, 0, 0);"><br />
	</span></span></p>
<p class="MsoNormal" style="margin-bottom: 0.0001pt; text-align: justify; line-height: normal;">
	<span style="font-size: 12px;"><span style="color: rgb(0, 0, 0);">Imports from Germany In FY 2009/10, the total imports from Germany experienced a slight increase of 3.5 per cent compared to the previous figure of Rs 2.3 billon. The development of the various product categories, however, was quite different. The imports of Machineries and electrical equipments, the major import goods from Germany that stand for more than 50 per cent of the total imports, increased by 7.5 per cent to Rs 1.2 billion. A closer look to this category reveals that Germany is an important supplier for mechanical machineries especially for the packing, printing, food, tobacco and textile sector. The imports of mechanical machineries increased by 2.6 per cent to Rs 932.1 million. And the imports of electrical machineries and equipments increased by 29.7 per cent compared to the FY 2008/09. <br />
	</span></span></p>
<p class="MsoNormal" style="margin-bottom: 0.0001pt; text-align: justify; line-height: normal;">
	<span style="font-size:12px;"><span style="color: rgb(0, 0, 0);"><br />
	</span></span></p>
<p class="MsoNormal" style="margin-bottom: 0.0001pt; text-align: justify; line-height: normal;">
	<span style="font-size: 12px;"><span style="color: rgb(0, 0, 0);">The imports of vehicles went up from Rs 6.5 million to Rs 80.4 million. The imports of medical devices and laboratory equipments increased by 13.8 per cent to Rs 275.7 million. And the imports of chemical and pharmaceutical substances and plastic rose by 11.4 per cent to Rs 265.7 million.</span></span></p>
<p class="MsoNormal" style="margin-bottom: 0.0001pt; text-align: justify; line-height: normal;">
	<span style="font-size: 12px;"><span style="color: rgb(0, 0, 0);"><br />
	</span></span></p>
<p class="MsoNormal" style="margin-bottom: 0.0001pt; text-align: justify; line-height: normal;">
	<strong><span style="font-size: 12px;"><span style="color: rgb(0, 0, 0);"><i>(Source: Nepal-German Chamber of Commerce and Industry.)</i></span></span></strong></p>
<p class="MsoNormal" style="margin-bottom: 0.0001pt; text-align: justify; line-height: normal;">
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			'content' => '<p class="MsoNormal">
	<span style="font-size:12.0pt;line-height:115%">By Anil Neupane</span></p>
<p class="MsoNormal">
	<span style="font-size:12.0pt;line-height:115%">&nbsp;</span></p>
<p class="MsoNormal">
	<span style="font-size:12.0pt;line-height:115%">Global business environment is changing rapidly with decentralization, smaller profit margin, need to react quickly to the changing market demands and increasing importance of service. In order to survive or improve in this aggressive environment, organizations tend to implement different approaches of Outsourcing, Business Intelligence (BI), Supply Chain Management (SCM) and Customer Relationship Management (CRM) systems. But despite these efforts, every organization does not succeed to meet the strategic goals. </span></p>
<p class="MsoNormal">
	<span style="font-size:12.0pt;line-height:115%">&nbsp;</span></p>
<p class="MsoNormal">
	<span style="font-size:12.0pt;line-height:115%">&nbsp; </span><strong><span style="font-size: 12pt; line-height: 115%;">Approaches used<br />
	</span></strong></p>
<p class="MsoNormal">
	<span style="font-size:12.0pt;line-height:115%">Traditionally outsourcing has been considered as the best approach for cost-saving. But this approach does not always support companies to meet their strategic outcomes. A survey conducted by Deloitte Consulting, among 25 of the world's largest organizations across eight sectors with extensive outsourcing experiences and multivendor relationships, revealed that 70% of participants identified cost savings</span><span style="font-size:12.0pt;line-height:115%;mso-ascii-font-family:
Calibri;mso-hansi-font-family:Calibri;mso-bidi-font-family:Calibri"> as the major driver of the outsourcing decision. However, opposing to th</span><span style="font-size:12.0pt;line-height:115%">e optimistic interpretation of outsourcing by vendors and the marketplace, they later realized that outsourcing is a complex process and the anticipated benefits often fail to materialize. Instead of simplifying operation, there may be complexities due to outsourcing.&nbsp;Also the costs may increase and the value chain may experience some friction requiring more senior management attention and deeper management skills than anticipated. However, outsourcing allows organizations to transfer financial and operational risk to vendors. But organizations are discovering that their contracts will never fully protect them against customer damage and business losses caused by service disruption. </span></p>
<p class="MsoNormal">
	<span style="font-size:12.0pt;line-height:115%">&nbsp; <br />
	</span></p>
<p class="MsoNormal">
	<span style="font-size:12.0pt;line-height:115%">Company should focus on outsourcing in its operational areas and handle their core areas on their own. By doing this outsourcing facilitates a company focus on its core business by having operations carried out by an external expert. Freed from devoting energy to areas that are not in its expertise, the company can focus its resources to meet its core customer needs.<br />
	<br />
	</span></p>
<p class="MsoNormal">
	<span style="font-size:12.0pt;line-height:115%">One of the major factors for a successful outsourcing is to have a clear strategic plan and vision. Moving along this path of clear plan and vision, a company can meet the strategic goals. As the survey report of Deloitte Consulting suggested, in order for meeting the strategic outcomes with minimal risks, companies should outsource only commodity functions to guard against a loss of knowledge instead of looking for differentiated growth solutions. As the report suggests, companies should avoid outsourcing solely on cost savings and should plan for short-term outsourcing to prevent vendor dependency. In the long run, organizations that continue to outsource will experience a loss of bargaining power to vendors as the supply side consolidates. <br />
	<br />
	<br />
	Those that apply strong skills in deal structuring, risk management and strong management skills to oversee deals from inception to execution will be best positioned to reap the benefits of outsourcing. Outsourcing will still remain a useful solution within the conservative context of five models: Centralize-Standardize-Outsource Transform-Operate-Transfer, Commodities Outsourcing, Risk Transfer (Insurance</span><span style="font-size:12.0pt;line-height:115%;mso-ascii-font-family:Calibri;
mso-hansi-font-family:Calibri;mso-bidi-font-family:Calibri">), and Shifting Fixed Costs to Variable Costs. In case of curr</span><span style="font-size:
12.0pt;line-height:115%">ent market situation, it has been found that outsourcing frequently fails to deliver its promise. In this case, it is suggested that the world’s largest companies should be able to replicate the vendor’s structural advantages in-house and rely on vendors only under specific circumstances. To meet the strategic outcomes from outsourcing, companies should move from an ad hoc outsourcing approach to a strategic multisourcing. </span></p>
<p class="MsoNormal">
	<strong><span style="font-size:12.0pt;line-height:115%"><br />
	</span></strong></p>
<p class="MsoNormal">
	<strong><span style="font-size:12.0pt;line-height:115%">Business Intelligence</span></strong></p>
<p class="MsoNormal">
	<span style="font-size:12.0pt;line-height:115%">Timely access to relevant information for right decision making has been critical for business success. However it has been very challenging for organizations to retrieve the right information from the huge amount of data collected as a result of diverse new data collecting technologies. Many companies have a gap between their strategy and operations as a failure to retrieve right information from their data. Unless they retrieve right information to realize this gap, it is not possible for them to come up with expected strategic outcomes. By providing right information at right time, business intelligence can help organizations to find out the gap between their strategy and operations following which they can change the strategy as per the operation or vice versa. Today’s business environment has frightening situation where 77% of managers do not have sufficient information and tend to make wrong decisions. Many companies strategies are found to be disconnected from the operations and decisions made at operations level are without context. This scary situation was depicted by a survey conducted by the Economist Intelligence Unit (EIU) which revealed that less than one in ten corporate executives believe they have the right information needed to make critical business decisions.&nbsp;No matter how promising the company strategy is, how can the right strategic outcome be met with this level of accessibility to right information for decision making? <br />
	<br />
	</span></p>
<p class="MsoNormal">
	<span style="font-size:12.0pt;line-height:115%">Mark Giles has emphasised on the Enterprise Data Warehouse (EDW) which, as he has defined, is a data warehouse concept that enables organizations create and operate a data warehouse in an enterprise-wide environment. Some of the major features of EDW are: a. Enable strategic analysis and operational reporting, b. Enable business to report real time, c. Integrate heterogeneous systems and d. facilitate the design time as well as runtime of business intelligence (BI) models and processes. In comparison to the traditional business intelligence systems which are accessible to some specific person such as manager, system analysts etc, EDW is something that is to be accessible to all levels of employees. Through this concept of information accessibility across the organizations, the employees at operational level can make right decisions to ensure the expected strategic outcome. Also since EDW facilitates the design and runtime of BI models and processes, organizations can simulate the processes earlier thereby reducing risks of failure which might happen in the real business scenario and support to meet expected strategic outcomes. </span></p>
<p>
	<span style="font-size:12.0pt;line-height:115%">&nbsp;</span></p>
<p class="MsoNormal">
	<strong><span style="font-size:12.0pt;line-height:115%">Supply Chain Management</span></strong></p>
<p class="MsoNormal">
	<strong><span style="font-size:12.0pt;line-height:115%">&nbsp;</span></strong></p>
<p class="MsoNormal">
	<span style="font-size:12.0pt;line-height:115%">In today’s rapid globalized business environment, companies have been highly dependent on outsourced manufacturing partners in order to reduce cost. However in addition to the reduction of the cost, the overall system has become very complex and therefore the importance of an effective supply chain management is increasing day by day. Unlike the earlier trends of producing goods on site, the goods are produced in remote areas and transported to other places for sales or reprocessing. </span></p>
<p>
	<span style="font-size:12.0pt;line-height:115%">&nbsp;</span></p>
<p class="MsoNormal">
	<span style="font-size:12.0pt;line-height:115%">The traditional approach of supply chain network does not match with the current speedy business environment and a new approach is needed to achieve expected strategic outcomes. Stefan Theis &amp; Howells have suggested adaptive supply chain </span><span style="font-size:12.0pt;line-height:115%;mso-ascii-font-family:
Calibri;mso-hansi-font-family:Calibri;mso-bidi-font-family:Calibri">as an effective supply chain network adapting a strategic approach to overcome the existing challenges in the supply chain network.</span><span style="font-size:
12.0pt;line-height:115%"> Because of globalization and outsourcing, the network-wide visibility and collaboration have become challenging. To overcome these challenges, he focuses on supply chain collaboration which consists of a. Understanding customer demand, b. Including suppliers in the network, c. Enabling visibility into outsourcing partners and d. Extending visibility to carriers . </span></p>
<p>
	<span style="font-size:12.0pt;line-height:115%">&nbsp;</span></p>
<p class="MsoNormal">
	<span style="font-size:12.0pt;line-height:115%">Tracking and Tracing</span><span style="font-size:12.0pt;line-height:115%;mso-ascii-font-family:
Calibri;mso-hansi-font-family:Calibri;mso-bidi-font-family:Calibri"> is a key enabler to achieve adaptive supply chain network which in turn can enable visibility into and responsiv</span><span style="font-size:12.0pt;line-height:
115%">eness to all supply chain events. Enabling real-time demand visibility, collaboration, and analytics to manage and mitigate risk are the major objectives of adaptive supply chain which can in turn ensure meeting the strategic goals of the companies. It is essential to have right supply chain strategy to come up with right strategic outcomes. For instance, strategies like Supply-to-stock and Supply-to-order. If supply-to-stock strategy is applied for products that are meant to be supply-to-order, then the possibility of right strategic outcome is very low.&nbsp;The technology plays crucial role for business partners integration. For instance, business intelligence systems can play a vital role to analyze the trends of customers needs and plan accordingly. It is essential for companies with strategic fit, i.e. both supply chain and competitive strategy have higher likelihood of having expected strategic outcome from their strategy. To achieve this strategic fit, some of the requisites he has suggested are: a. Understanding the customer, b. Understanding supply chain tradeoffs and c. Matching supply chain responsiveness with the implied demand uncertainty. With this combination of right strategy, strategy fit with strong support of technology at the back end can ensure organizations meet their strategic outcomes. </span></p>
<p>
	<span style="font-size:12.0pt;line-height:115%">&nbsp;</span></p>
<p class="MsoNormal">
	<strong><span style="font-size:12.0pt;line-height:115%">Customer Relationship Management</span></strong></p>
<p class="MsoNormal">
	<strong><span style="font-size:12.0pt;line-height:115%">&nbsp;</span></strong></p>
<p class="MsoNormal">
	<span style="font-size:12.0pt;line-height:115%">There have been numerous failures of implementing effective CRM systems. Companies should have strategic procedures to achieve strategic outcomes from their CRM systems. Properties of an effective CRM system which highly ensure the strategic outcome are:&nbsp;a. Simplicity drives adoption and productivity, b. Flexibility provides choice and adaptability and c. Comprehensive breadth of capabilities and innovation. </span></p>
<p>
	<span style="font-size:12.0pt;line-height:115%">&nbsp;</span></p>
<p class="MsoNormal">
	<span style="font-size:12.0pt;line-height:115%">There are numerous challenges to meet strategic goals through traditional CRM systems due to their inability to support high complexity of today’s global business environment. To get expected strategic outcomes from CRM systems, companies should focus on standardizing their sales processes, integrating their data and be flexible and responsive to their environment. Properly implemented and maintained CRM systems can help organizations meet their strategic goals by reducing or avoiding cost, increasing productivity and retaining higher customer satisfaction. A customer centric CRM system gives a full view of customers to help companies improve their efficiency thereby coming up with better customer service. For multinational companies, different complexities such as different processes in the subsidiary’s region, lack of integration in many processes and multiple CRM instances can further hinder the achievement of their strategic goals. Companies can overcome these complexities and meet their strategic goals with right implementation of the CRM systems by forming a globally consistent process, integrating processes across sales, marketing, contact centers and partners and by having single logical instance of multiple systems. </span></p>
<p>
	<span style="font-size:12.0pt;line-height:115%">&nbsp;</span></p>
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	<strong><span style="font-size:12.0pt;line-height:115%">2+2 not necessarily 4</span></strong></p>
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	<strong><span style="font-size:12.0pt;line-height:115%">&nbsp;</span></strong></p>
<p class="MsoNormal">
	<span style="font-size:12.0pt;line-height:115%">The four business areas, Outsourcing, Business Intelligence, Supply Chain Management, and Customer Relationship Management are very crucial for organizations to meet their strategic goals. However, these business areas by themselves do not assure the achievement of business strategic goals unless they are properly implemented. Though these business areas have their distinctive contribution to achieve the organizational strategic goals, they are not in fact independent of each other. These are closely interlinked with each other and proper coordination of these facets can actually result in meeting strategic goals efficiently. For this, an efficient or a combination of few ERP systems with all these functionalities can be deployed to support business processes and help meet the organizational strategic goals. After implementation, it is equally important to review these systems in context of changing business environment to ensure the system is as per the market need. </span></p>
<p>
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<p>
	<strong><span style="font-size:12.0pt;line-height:115%">(Neupane is a SAP global certified consultant currently working in London. He can be reached at neupane_anil@hotmail.com)</span><br />
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<p class="ANSWER" style="text-align: justify;">
	<span class="MyriadPro"><span calibri="" lang="EN-GB" letter-spacing:="" sans-serif="">Sujit Mundul, CEO and Director, Standard Chartered Bank (SCB) Nepal, started his career as a lecturer in Organic Chemistry but switched over to banking as he joined SCB as a junior officer in the seventies. Mundul moved on through various relationship roles in Corporate/Institutional Banking including Credit and Audit functions.&nbsp; He also worked in SCB - London in Credit Management for about a year on secondment. He became Head - Corporate Banking, South India and Regional Head - Sales, for Eastern India before joining SCB Nepal as the CEO and Director. Mundul spoke to <i>Nubiz</i> on a wide range of issues on banking and finance. Excerpts:</span></span></p>
<p class="ANSWER" style="text-align: justify;">
	 </p>
<p class="questionsforinterview" style="text-align: justify;">
	<span style="font-size:12px;"><strong><span class="MyriadPro"><span lang="EN-GB" style="letter-spacing: 0pt;">You have substantially increased the interest on savings, from 2-5% a few years back to 6.5% now. Is there still cash crunch? <br />
	</span></span></strong></span></p>
<p class="ANSWER" style="text-align: justify;">
	<span style="font-size:12px;"><span class="MyriadPro">To answer this question, we need to set the perspective right why SCB Nepal has increased its interest rate. Till one year back, the market never experienced that kind of interest rate because of many reasons. One of the major reasons is that remittance was less. That is coming in abundance now. But for good reason or bad, the market started feeling the tightness. As a result, some stress in liquidity was felt. To be very honest, SCB Nepal never faced a liquidity strain, we have always been adequately liquid.&nbsp; In fact, we had been the lenders in the inter-bank throughout the crisis period. Now, in order to build the deposit base, we decided to increase our interest rates because the market dynamics have changed. The market has slightly shifted gears from low to high interest rate environment. As we are also one of the key players in the market, we need to keep up with the market rates. That's the reason why we have increased the interest rate. Though the increase in interest rate is not that significant; we have already started seeing good positive response from the market.</span></span></p>
<p class="ANSWER" style="text-align: justify;">
	<span style="font-size:12px;"><span><span class="MyriadPro"><br />
	</span></span></span></p>
<p class="questionsforinterview">
	<span style="font-size:12px;"><strong><span class="MyriadPro"><span lang="EN-GB" style="letter-spacing: 0pt;">SCB Nepal is known for quality banking. But competition actually has become tough. How do you view the growth of Nepali financial sector?</span></span></strong></span></p>
<p class="ANSWER" style="text-align: justify;">
	<span style="font-size:12px;"><span class="MyriadPro"><span style="letter-spacing: 0.1pt;">It is a difficult market now. The market of Nepal has become overcrowded. It cannot accommodate so many players; that's why, the competition is a bit uneven. Customers or the depositors would love to see that wherever they put their money it should remain safe and they should get high quality service. The depositors are becoming much wiser compared to what they used to be few years back. They read papers, they also follow the economy and they can make their own judgments. That is why there is the competition and, I believe, we have been able to tackle the competition successfully.</span></span><strong><br />
	<span class="MyriadPro"> </span></strong></span></p>
<p class="ANSWER" style="text-align: justify;">
	<span style="font-size:12px;"><strong><span><span class="MyriadPro"><br />
	</span></span></strong></span></p>
<p class="questionsforinterview" style="text-align: justify;">
	<span style="font-size:12px;"><strong><span class="MyriadPro"><span lang="EN-GB" style="letter-spacing: 0pt;">You are of the few banks that also offer insurance products. How do these two products work along?</span></span></strong></span></p>
<p class="ANSWER" style="text-align: justify;">
	<span style="font-size:12px;"><span class="MyriadPro">e do not have insurance products of our own but we are co-branded with insurance. We call it bancassurance. It is very complementary with banking services. Basically, it could be used for retail banking sector. It can go very well with mortgage products. Similarly, it can go with other lending products. And it is used as one of the major products in wealth management. So we use it as a part of wealth management package. The corporate sector has also been covered by insurance. Instead of going to an ordinary agent, they can come to the bank to get their assets insured. So, these products are actually complimentary to each other.</span></span></p>
<p class="ANSWER" style="text-align: justify;">
	<span style="font-size:12px;"><span><span class="MyriadPro"><br />
	</span></span></span></p>
<p class="questionsforinterview" style="text-align: justify;">
	<span style="font-size:12px;"><strong><span class="MyriadPro"><span lang="EN-GB" style="letter-spacing: 0pt;">Securities Exchange Board of Nepal (SEBON) has recently got the Mutual Fund Regulations ratified. Your bank had shown some interest in this business in the past. How is the plan now?</span></span></strong></span></p>
<p class="ANSWER" style="text-align: justify;">
	<span style="font-size:12px;"><span class="MyriadPro"><span style="letter-spacing: 0.1pt;">To run a successful mutual fund, you need to have volume. I don't think Nepali market has yet got that volume. It will take maybe a few years to create that. For a successful mutual fund, we need to see also to the stock market. Is it equipped to handle the flow? Nepal is working with India to equip the Nepali stock market with some modern tools such as Central Depository System (CDS). Mutual Fund would be very helpful to make this market more perfect. It will not then be driven by the brokers; it will be driven by the market on its own forces. The investors can come and directly play in the market. <br />
	</span></span></span></p>
<p class="ANSWER" style="text-align: justify;">
	<span style="font-size:12px;"><span class="MyriadPro">We have a mutual fund in India under Standard Chartered. So we have the experience and I don't think there will be a problem in terms of experience or expertise.&nbsp; But we need to actually have that volume.</span></span></p>
<p class="ANSWER" style="text-align: justify;">
	<span style="font-size:12px;"><span><span class="MyriadPro"><br />
	</span></span></span></p>
<p class="questionsforinterview" style="text-align: justify;">
	<span style="font-size:12px;"><strong><span class="MyriadPro"><span lang="EN-GB" style="letter-spacing: 0pt;">How do you evaluate the current financial system of Nepal? Is it heading towards robustness?</span></span></strong></span></p>
<p class="ANSWER" style="text-align: justify;">
	<span style="font-size:12px;"><span class="MyriadPro">It is going through transformation I can say. At this stage, it is difficult to say whether it is robust or stagnant but I think the transformation is happening in the right direction. But it takes time; there are a lot of things that need to be corrected. Fundamental corrections are required. The only point here is that there are too many players so this market would definitely require consolidation. But I don't know when the momentum will come in terms of consolidation.&nbsp;</span></span></p>
<p class="ANSWER" style="text-align: justify;">
	<span style="font-size:12px;"><span><span class="MyriadPro"><br />
	</span></span></span></p>
<p class="questionsforinterview" style="text-align: justify;">
	<span style="font-size:12px;"><strong><span class="MyriadPro"><span lang="EN-GB" style="letter-spacing: 0pt;">Many banks are now trying to form a subsidiary to channel the mandatory deprived-sector lending. Do you subscribe the idea? Any plan from SCBNL along this line?</span></span></strong></span></p>
<p class="ANSWER" style="text-align: justify;">
	<span style="font-size:12px;"><span class="MyriadPro">We do not have any plan at this moment and I can't comment about other banks. However, I can tell you that this deprived-sector lending (micro finance) is definitely SCB Groups major focus area globally. And also here we are working on that.</span></span></p>
<p class="ANSWER" style="text-align: justify;">
	<span style="font-size:12px;"><span><span class="MyriadPro"><br />
	</span></span></span></p>
<p class="ANSWER" style="text-align: justify;">
	<span style="font-size:12px;"><strong><span class="MyriadPro"><span lang="EN-GB">What do you suggest to improve the financial services market in Nepal?</span></span></strong></span></p>
<p class="ANSWER" style="text-align: justify;">
	<span style="font-size:12px;"><span class="MyriadPro">The problem is uneven competition. There are many things that need to be done to make the market stronger. Firstly, we need to have tighter corporate governance; there is enough room for improvement. It is not only the regulator's responsibility; it is the responsibility of the individual players to ensure that a robust governance framework is in place. Secondly, this market needs more reforms in the sense of widening of the market and more integration with the international market. I think players should be allowed to directly interact with the international market. Thirdly, I would love to see a universally acceptable risk management model which would compensate the short-term losses caused by fundamental imbalances in the long term. Fourth, it is necessary to develop the capital market of Nepal. It helps in the long-term management of liquidity and also makes resources available to people to make short-term investments in the productive sector.</span></span></p>
<p class="ANSWER" style="text-align: justify;">
	<span style="font-size:12px;"><span><span class="MyriadPro"><br />
	</span></span></span></p>
<p class="questionsforinterview" style="text-align: justify;">
	<span style="font-size:12px;"><strong><span class="MyriadPro"><span lang="EN-GB" style="letter-spacing: 0pt;">What are the challenges and problems faced by your bank in particular and by the overall banking sector in general?</span></span></strong></span></p>
<p class="ANSWER" style="text-align: justify;">
	<span style="font-size:12px;"><span class="MyriadPro"><span style="letter-spacing: 0.2pt;">As far as our bank is concerned, we visualize the plans for next seven to ten years. I think we are well equipped to handle the challenges when they come. During crisis, we set up a very good example in the market as the only bank that lent to the market. That shows how careful we are. Our portfolio is very carefully managed. We run cautiously, we don't want to block our books and then suffer. There is problem now in the sense that the productive sector needs more credit but a lot of money is stuck in the real estate sector.</span></span><strong><br />
	<span class="MyriadPro"> </span></strong></span></p>
<p class="ANSWER" style="text-align: justify;">
	<span style="font-size:12px;"><strong><span><span class="MyriadPro"><br />
	</span></span></strong></span></p>
<p class="questionsforinterview" style="text-align: justify;">
	<span style="font-size:12px;"><strong><span class="MyriadPro"><span lang="EN-GB" style="letter-spacing: 0pt;">What is your future mission and vision for Nepal?</span></span></strong></span></p>
<p class="ANSWER" style="text-align: justify;">
	<span style="font-size:12px;"><span class="MyriadPro">We are long-term players and we would continue to be here. We'll be expanding our ventures. We have in mind some acquisition also, when the time is right. That's not completely out of the window.&nbsp; It's very much part of the game plan. <br />
	</span></span></p>
<p class="ANSWER" style="text-align: justify;">
	<span style="font-size:12px;"><span><span class="MyriadPro"><br />
	</span></span></span></p>
<p class="questionsforinterview" style="text-align: justify;">
	<span style="font-size:12px;"><strong><span class="MyriadPro"><span lang="EN-GB" style="letter-spacing: 0pt;">It is said that in Nepal, merger and acquisition will remain only in talks not in practice. What do you say?</span></span></strong></span></p>
<p class="ANSWER" style="text-align: justify;">
	<span style="font-size:12px;"><span class="MyriadPro">Unless foreign players and foreign direct investment flow into Nepal, I don't see any possibility of merger and acquisition. Its pre-requirements are political stability and supplementing policies. It is not only the matter of tax. No investor would like to buy problem paying money. Therefore, there must be a suitable labour policy in Nepal. I don't mean the facility of hire and fire. It means keeping human resource in right size and mobilizing it. After meeting all these requirements, I think we can then talk about merger and acquisition. <br />
	<br />
	</span></span></p>
<p class="ANSWER" style="text-align: justify;">
	<span style="font-size:12px;"><strong><span class="MyriadPro"><span lang="EN-GB" style="letter-spacing: 0pt;">What are your bank's recent activities on Corporate Social Responsibility?<br />
	<br />
	</span></span></strong><span class="MyriadPro"><span style="letter-spacing: 0.2pt;">We continue to focus on accseeing is believing keeping avoidable blindness in the centre point. We are very much into helping the poor schools inside and outside the valley by providing computers and creating computer laboratory and also by providing scholarships. We have helped few deserving schools in uplifting their infrastructural facilities. We are very much into the HIV-AIDS awareness and environment protection programs. As a part of our ongoing agenda, we are planting trees to maintain greenery around and are also looking at reducing the carbon requirement of our own uses. </span></span><span style="font-family: Wingdings; color: rgb(237, 28, 36); letter-spacing: 0.15pt;">&nbsp;</span></span></p>
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<p class="MsoNormal">
	<strong><span style="font-size:12px;"><span color:="" franklin="" gothic="" style="line-height: 115%;"><br />
	BRIGHT ECONOMIC FUTURE OF NEPAL</span></span></strong></p>
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	 </p>
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	<strong><span style="font-size:12px;"><i><span color:="" letter-spacing:="" lucida="" style="line-height: 120%;">By Janardan Dev Pant<br />
	<br />
	</span></i></span></strong></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;"><b><span aldine401="" color:="" letter-spacing:="">N</span></b><span aldine401="" color:="" letter-spacing:="">epal's political parties and policymakers are making financial mistakes that have left the people in poverty, serious financial stress and feeling of helplessness. Nepal is experiencing immense challenges in transforming its social and business environment. Such transformation requires departure from outdated modes of providing dogmatic directions.&nbsp; Everybody is suggesting that the need of the hour is good governance, awareness about and understanding of global and national economic business environment, strategic thinking and choices, formulation and implementation of proper policies, effective communication, digitization, and management of available human talent.&nbsp; These all require an overall understanding of the fast paced changes of both the external and internal environment.</span></span></p>
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	<span style="font-size:12px;"><span aldine401="" color:="" letter-spacing:="">&nbsp;</span></span></p>
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	<span style="font-size:12px;"><span aldine401="" color:="" letter-spacing:="">We have achieved lots of good things.&nbsp; We have produced world class engineers, doctors, lawyers and bankers by liberalizing education, telecommunications and banking. Majority of them are working in the USA, Canada, UK and Australia due to the absence of right environment in Nepal. Due to this migration of talent, all the achievement made in the education sector has been useless in raising the living standards of 85 per cent Nepalis.&nbsp; Common people are undergoing extreme socio-economic hardships without hope of any immediate relief.&nbsp; This situation must not be allowed to continue.&nbsp; </span></span></p>
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	<span style="font-size:12px;"><span aldine401="" color:="" letter-spacing:="">&nbsp;</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 aldine401="" color:="" letter-spacing:="">Nepal's market-oriented reform started in 1991 implied that those who lack the purchasing power will be marginalised.&nbsp; People without money are as good as non-existent in the sort of market economy prevailing today.&nbsp; It is the state's responsibility to take care of such citizens.&nbsp; Failure to take care of such Nepalis, who are about 85 per cent of the country's population, is the key failure of Nepal's economic liberalization.The main reason behind this failure is our inability to use our existing resources properly. That is what is forcing us to live in poverty, serious financial stress and feeling of helplessness.&nbsp; </span></span></p>
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	<span style="font-size:12px;"><span aldine401="" color:="" letter-spacing:="">&nbsp;</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 aldine401="" color:="" letter-spacing:="">This article is about a proposal to get out of this mess and achieve growth through the use of hydropower. </span></span></p>
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	<span style="font-size:12px;"><span aldine401="" color:="" letter-spacing:="">&nbsp;</span></span></p>
<p class="MsoNormal" style="margin: 11pt 0in 0.0001pt; vertical-align: middle;">
	<strong><span style="font-size: 12px;"><span color:="" franklin="" gothic="" letter-spacing:="">Setting the Goal<br />
	<br />
	</span></span></strong></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 aldine401="" color:="" letter-spacing:="">The first step in embarking on a journey is to set a goal. Let's set the goal as:&nbsp; Nepal's per capita income US$ 2,500 by 2017 and US$ 50,000 by 2040.&nbsp; This goal is specific, measurable, achievable, realistic and time bound.&nbsp; With this goal in mind, I would like to draw a number of policy prescriptions to achieve this goal. These policies can promote investment, create jobs and wealth, and consumer spending which will give us double digit growth and eradicates poverty so that Nepal will be transformed from least developed county to developed country by 2040.</span></span></p>
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	 </p>
<p class="MsoNormal" style="margin-bottom: 0.0001pt; text-align: justify; text-indent: 14.15pt; line-height: 11pt; vertical-align: middle;">
	<strong><span style="font-size:12px;"><span aldine401="" color:="" letter-spacing:="">&nbsp;</span></span></strong></p>
<p class="MsoNormal" style="margin: 11pt 0in 0.0001pt; vertical-align: middle;">
	<strong><span style="font-size: 12px;"><span color:="" franklin="" gothic="" letter-spacing:="">Bench Mark<br />
	<br />
	</span></span></strong></p>
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	 </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 aldine401="" color:="" letter-spacing:="">We must benchmark with our comparator countries to achieve best practices and gain efficiencies.&nbsp; Our core competencies are hydropower and tourism.&nbsp; The comparator countries in this respect are Bhutan and Laos. They too are landlocked, have mountainous terrain and plentiful water resources.&nbsp; But they have succeeded to produce and export large volume of hydroelectricity to their neighbors.&nbsp; We can learn many things from 1070 MW Nam Theun Hydropower Project of Laos and 1020 MW Tala Hydroelectric Project of Bhutan. We have to learn from them and achieve the above stated goal. But we have to revise and refine those models to suit our specific environment.&nbsp; For example, they are exporting power whereas we have market for power within the country itself. <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 aldine401="" color:="" letter-spacing:="">Supply creates its own demand, said the famous economist JB Say.&nbsp; He is perfectly right in his statement, at least in Nepal where the pent up demand for electricity is huge. If we start construction of various hydroelectricity projects immediately as per our model, our per capita income will reach around US $50,000 by 2040 with double digit economic growth every year.&nbsp; By that time our rate of per person electricity use will reach around 150 times from today's 70 units per head.&nbsp; As we are going to consume here in Nepal all the electric power that we are going to produce, the policy of exporting power must be stopped immediately.&nbsp; Power exporting policy will hold back our fast track economic growth.&nbsp;&nbsp;&nbsp; </span></span></p>
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	 </p>
<p class="MsoNormal" style="margin-bottom: 0.0001pt; text-align: justify; text-indent: 14.15pt; line-height: 11pt; vertical-align: middle;">
	<strong><span style="font-size:12px;"><span aldine401="" color:="" letter-spacing:="">&nbsp;&nbsp;&nbsp; </span></span></strong></p>
<p class="MsoNormal" style="margin: 11pt 0in 0.0001pt; vertical-align: middle;">
	<strong><span style="font-size: 12px;"><span color:="" franklin="" gothic="" letter-spacing:="">Liberalizing Hydropower</span></span></strong></p>
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	 </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 aldine401="" color:="" letter-spacing:="">This is the time that the government needs to think about liberalizing hydropower sector, just like it liberalized banking, telecommunications and education which unleashed the banking, communication and education revolution.&nbsp; We have to rehabilitate to Nepal Electricity Authority (NEA) to match our development strategy because NEA is already a sick unit.&nbsp; We are experiencing a severe energy crisis. We are already without electricity 14 hours a day and this duration is getting longer. But with the hydropower potential we have, it does not have to be that way. Presently, peak power demand of integrated Nepal power system is around 967 MW and power supply is around 400 MW.&nbsp; The deficit can be met easily with a few projects. <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 aldine401="" color:="" letter-spacing:="">&nbsp;But the existing power purchase rates make the power projects commercially unfeasible due to high rates of interest that the banks are charging.&nbsp; Therefore, it is suggested that the power purchase rates be revised upward, immediately.&nbsp; When the market interest rates rises further, the power purchase rates should be raised accordingly. Similarly, when the interest rate cools down, the power purchase rates should be lowered accordingly. </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 aldine401="" color:="" letter-spacing:="">&nbsp;</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 aldine401="" color:="" letter-spacing:=""><br />
	</span></span></p>
<p class="MsoNormal" style="margin: 11pt 0in 0.0001pt; vertical-align: middle;">
	<strong><span style="font-size: 12px;"><span color:="" franklin="" gothic="" letter-spacing:="">Cost of Hydropower<br />
	<br />
	</span></span></strong></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 aldine401="" color:="" letter-spacing:="">The cost of hydropower is highly site specific, and depends on different factors, including hydrologic characteristics, site accessibility, and distance from transmission line.&nbsp;&nbsp; However, hydropower is the cheapest way to generate electricity in Nepal. The 456 MW Upper Tamakoshi hydropower project is estimated to cost Rs 35.29 billion, if the project is completed by FY 2014-15 as scheduled.&nbsp; That means it costs about Rs 77.39 million per MW.&nbsp; On that basis, we can say, at today's rate, a typical hydropower project in Nepal can cost somewhere between Rs 80 million and Rs 150 million per installed MW.&nbsp;&nbsp;&nbsp; </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 aldine401="" color:="" letter-spacing:="">&nbsp; </span></span></p>
<p class="MsoNormal" style="margin: 11pt 0in 0.0001pt; vertical-align: middle;">
	<strong><span style="font-size:12px;"><span color:="" franklin="" gothic="" letter-spacing:="">Means of Financing<br />
	<br />
	</span></span></strong></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 aldine401="" color:="" letter-spacing:="">One major obstacle often cited in Nepal's hydropower development is the lack of finance. But in reality, it is no big deal for us to raise the money.&nbsp; The project can be financed through a mix of debt and equity arranged through a public-private partnership.&nbsp; The people of Nepal can arrange the resources on their own to produce at least 2,360 MW of electricity if the leaders extend some help.&nbsp; <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 aldine401="" color:="" letter-spacing:="">First of all, Nepal Government has to create Nepal Development Company Limited (NDCL) as a sovereign wealth fund holding company.&nbsp; Then the government should sell 40 per cent shares it holds in the Nepal Telecommunication Company Ltd (NTC). This will yield around Rs 24 billion and that amount should be invested as the seed money of NDCL.&nbsp; With this money, NDCL can promote many subsidiary public limited companies in the same manner as Nepal Electricity Authority has promoted Chilime Hydropower Company Limited.&nbsp; The equity participation in these subsidiaries is proposed at 51% from NDCL, 25% from national or international strategic partner, 24% from the general public.&nbsp; Subsidiaries should be managed by the strategic partners so as to ensure efficiency and customer satisfaction.&nbsp; NDCL can also promote East-West Electric Railway Ltd and many North-South cable car companies in similar modality of raising the fund. <br />
	<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 aldine401="" color:="" letter-spacing:="">&nbsp;Nepal Telecom has been seeking strategic partner as it is losing 10 per cent of its profit growth every four months to the private telecom service providers.&nbsp; Nepal Telecom on its second annual general meeting held on March 29, 2010 has passed a resolution to sell minority shares to international telecommunications operator.&nbsp; But nothing has been done on this line till now. People believe that this delay is due to financial influence of other telecom service providers on our political leaders and government authorities.&nbsp; Further, it is also widely believed that if Nepal Telecom cannot bring foreign telecommunications operator through bidding as a strategic partner, Nepal Telecom too will face the same fate as that of Janakpur Cigarette Factory and Nepal Airlines Corporation.&nbsp; <br />
	<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 aldine401="" color:="" letter-spacing:="">The paid-up capital of Nepal Telecom is Rs 15 billion, of which Nepal Government holds 91.50%.&nbsp;&nbsp; If the Government can sale 40% share in Nepal Telecom through international bidding, at the rate of minimum Rs 400 per share, the proceeds will be a minimum of Rs 24 billion.&nbsp; Assuming that this Rs 24 billion will be the 25% equity from NDCL's side, and that Rs 72 billion will be available as loan from various lenders, the total funds available will be Rs 96 billion.&nbsp; This will be sufficient to set up projects to generate hydroelectricity of 960 MW, assuming, on the basis of calculations above, that Rs 100 million will be required to install one MW capacity for hydroelectricity.&nbsp;&nbsp;&nbsp; </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 aldine401="" color:="" letter-spacing:="">&nbsp;</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 aldine401="" color:="" letter-spacing:="">Similarly, Nepal Army Welfare Fund has billions in its account.&nbsp; If it invests Rs 5 billion as equity in hydropower projects, it can get 75% of the project as loan and the total available amount will be Rs 20 billion.&nbsp; This amount is sufficient to install 200 MW capacity of hydroelectricity on the same assumptions as above.Then is the Employees Provident Fund. It is no big deal for this institution to invest Rs 10 billion as equity for hydropower generation. That will attract loans to make the total fund of Rs 40 billion.&nbsp; This is sufficient for installing a generation capacity of 400 MW.&nbsp;&nbsp; <br />
	<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 aldine401="" color:="" letter-spacing:="">Then, we can easily assume that 100,000 Nepali citizens will come forward to invest Rs 200,000 per person. That will generate a total equity amount of Rs 20 billion which will attract a loan so that the total amount will be Rs 80 billion.&nbsp; From this amount, we can install a capacity of R 800 MW. The equity can be raised by issuing preferred redeemable increased dividend equity shares (PRIDES) to the general people.&nbsp; PRIDES, according to Investopedia, are securities consisting of a forward contract to purchase the issue's underlying security and an interest bearing deposit.&nbsp; Interest payments are made at regular intervals, and conversion into the underlying security is mandatory at maturity.&nbsp; PRIDES allow investors to earn stable cash flows while still participating in the capital gains of an underline stock.&nbsp; This is possible because these products are valued along the same lines as the underlying security. <br />
	<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 aldine401="" color:="" letter-spacing:="">Micro-finance institutions, Banks and Co-operatives can give loans to purchase these PRIDES issued by NDCL or its subsidiaries to the Nepalis who have low or no income. Such loan can be issued against the collateral of PRIDES.&nbsp; This will bring positive impact on distribution of benefits from national resources to the low income people.&nbsp; This will ensure that the economic development does not marginalize the poor. <br />
	<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 aldine401="" color:="" letter-spacing:="">We can get loan from various financial institutions located in Nepal, China, India or global institutions such as Agence Francaise de Development, European Investment Bank, Nordic Investment Bank etc. China's foreign exchange reserves have reached US$ 2.4 trillion making it by far the largest holder of foreign exchange reserve in the world. China was holding US$ 906 billion in US treasury bonds as of October, 2010.&nbsp; We should request China to invest some of that amount in Nepal's infrastructure development, such as hydropower. They should agree because the return will be higher in our projects.</span></span></p>
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	 </p>
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	<strong><span style="font-size:12px;"><span aldine401="" color:="" letter-spacing:="">&nbsp;</span></span></strong></p>
<p class="MsoNormal" style="margin: 11pt 0in 0.0001pt; vertical-align: middle;">
	<strong><span style="font-size: 12px;"><span color:="" franklin="" gothic="" letter-spacing:="">Infrastructure-Transmission Line<br />
	<br />
	</span></span></strong></p>
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	 </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 aldine401="" color:="" letter-spacing:="">Hydropower development depends on the power transmission to carry the power from the power project site to the consumer. On January 5, 2007 NEA signed an MOU to construct Butwal-Gorakhpur, Duhabi-Purnia, Dhalkebar-Mujaffarpur and Anarmani-Siligudi 220 KV transmission lines for power trade between Nepal and India. But if we have to develop Nepal's hydropower and consume this within Nepal, NEA has to start constructing East-West 400 KV, North-South 132 KV, and North-South 220 KV transmission lines along the corridors of North-South major rivers, where it is feasible.&nbsp; NEA will make profit from wheeling charges received from power producers.<br />
	<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 aldine401="" color:="" letter-spacing:="">These transmission lines are essential to solve the present problem of power deficit.&nbsp; No investor will be interested to invest in power project without transmission line. Therefore, for Nepal, transmission line construction is not an option but compulsion. If NEA is not able to construct these transmission lines, the private sector can be invited to do it under Build-Own-Operate-Transfer (BOOT) contracts.&nbsp; The private sector can be allowed to operate such transmission lines for 30 years after which it has to transfer ownership to the government-owned NDCL. <br />
	<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 aldine401="" color:="" letter-spacing:="">The responsibility to distribute electricity should be given to the local government units, such as the District Development Committees or Municipalities or to the proposed federal states.&nbsp; With this arrangement, the present problem of leakage of electricity will be stopped. At present, the electricity leakage is 26 per cent according to NEA.&nbsp; </span></span></p>
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	 </p>
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	<strong><span style="font-size:12px;"><span aldine401="" color:="" letter-spacing:=""><br />
	&nbsp;</span></span></strong></p>
<p class="MsoNormal" style="margin: 11pt 0in 0.0001pt; vertical-align: middle;">
	<strong><span style="font-size: 12px;"><span color:="" franklin="" gothic="" letter-spacing:="">Market<br />
	<br />
	</span></span></strong></p>
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<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 aldine401="" color:="" letter-spacing:="">The concept of supply creates its own demand is applicable in our case.&nbsp; There is scope of exponential increase in the supply of electric power in Nepal because there is also a very high scope for exponential increase in the demand for electric power.&nbsp; The data provided in the Table-1 is a conservative estimate.&nbsp; This does not include major hydropower projects initiated by NEA and foreign investors. NDCL can immediately start Construction of electric railway system such as Mechi-Mahakali, Raxaul-Hetauda-Kulekhani-Kathmandu and Kathmandu valley metro system.&nbsp; The estimated construction cost is Rs 500,000 per meter for double track railway. It goes up to Rs 1,000,000 if tunnel construction is also required. </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 aldine401="" color:="" letter-spacing:="">&nbsp;</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 aldine401="" color:="" letter-spacing:="">NDCL can also immediately start construction of cable car system from various points of east-west electric railway up to the hilly and Himalayan region to the market centres and tourist attractions including various reservoirs to be created by hydro dams.&nbsp; </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 aldine401="" color:="" letter-spacing:="">&nbsp;</span></span></p>
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	<span style="font-size:12px;"><span aldine401="" color:="" letter-spacing:="">Meanwhile, we can benefit from the fast growth in the economies of our two neighbours. We share our northern border (1415 kms) with China which is not only the most populous country in the world with 1.34 billion people, but also the worlds second largest economy after the United States.&nbsp; It is the world's fastest growing major economy, with average annual growth rates of 10% for the past 30 years.&nbsp;&nbsp; China's middle class population, that has an annual income of at least US$ 17,000, has now reached more than 100 million. China's per capita income (nominal) is US$ 4,283.&nbsp; Similarly, our southern neighbor India with which we share a common border of 1,850 Kms, is the second most populous country in the world with 1.2 billion people.&nbsp; India too is one of the fastest growing economies in the world and its per capita income (nominal) is US$ 1,124.&nbsp; </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 aldine401="" color:="" letter-spacing:="">&nbsp;</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 aldine401="" color:="" letter-spacing:="">If we can attract even one per cent of the population of our two neighboring countries as tourists in Nepal, that will give tremendous economic growth to our economy as well. That requires construction of various electric train lines, international airports, cable car systems and recreational centres. Development of hydropower will help in all these. For example, water can be used for creating recreational facilities. Most importantly, if Nepal has good infrastructure, its geographical location makes it very suitable to be international financial center.</span></span></p>
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	<strong><span style="font-size:12px;"><span aldine401="" color:="" letter-spacing:="">&nbsp;</span></span></strong></p>
<p class="MsoNormal" style="margin: 11pt 0in 0.0001pt; vertical-align: middle;">
	<strong><span style="font-size: 12px;"><span color:="" franklin="" gothic="" letter-spacing:="">Determined Government<br />
	<br />
	</span></span></strong></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 aldine401="" color:="" letter-spacing:="">One frequently cited problem in Nepal's development and investment is the political uncertainty. However, there are examples, such as Singapore, China and South Korea, that a determined government can build an advanced country from scratch in a short period of time. That means our politicians have to start learning.<br />
	<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 aldine401="" color:="" letter-spacing:="">Presently, our leaders or political parties are focused on the 301-game trying to make sure that they have 301 members of the Constituent Assembly on their side at any cost. That has to change. Over the past 35 years, we have seen rapid pace of technological change in our physical environment.&nbsp; Innovations such as cellular telephones, laser surgery, computers, electronic banking and new electronic trading techniques have materially affected the way people live.&nbsp; These technologies are easily transferable.&nbsp; Our politicians should keep themselves aware about these technological changes.&nbsp; That is required because the politicians should be able to optimize the use of the country's resources, promote excellence in the delivery of services and enhance competitiveness in line with our strategic visions, by keeping economic policy, institutions and bureaucracy above politics.<br />
	<br />
	<br />
	</span></span></p>
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	<span style="font-size:12px;"><span aldine401="" color:="" letter-spacing:="">&nbsp;Politicians should be given growth challenges in numerical terms.&nbsp; They must be given a target such as 12.3 percent growth rate per annum in our gross domestic product (GDP).&nbsp; Why 12.3 per cent? Our population growth rate is 2.3 per cent per annum.&nbsp; So, we need 2.3 per cent annual rate of GDP growth to take care of population increase. Another 5 percent growth rate is required to provide increased standard of living to the people, and another 5 percent is needed to provide increased momentum in the subsequent years.&nbsp; It is an achievable target and this must be the duty of the Prime Minister to achieve this. It makes no sense to continue hiring the Chief Executive Officer of the country without giving him or her a target to achieve. <br />
	<br />
	<br />
	</span></span></p>
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	<span style="font-size:12px;"><span aldine401="" color:="" letter-spacing:="">&nbsp;The type of economic growth that we will achieve with this model will not only eradicate poverty from Nepal in a short period of time, but will lift the country to the group of developed countries by 2040.&nbsp; </span></span></p>
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	<strong><span style="font-size:12px;"><span aldine401="" color:="" letter-spacing:="">&nbsp;</span></span></strong></p>
<p class="MsoNormal">
	<strong><span style="font-size: 12px;"><span aldine401="" color:="" letter-spacing:="" style="line-height: 115%;">&nbsp;<i>(Pant is Director of Nepal Investment Bank Ltd and Chairman of Quantum Capital Ltd.&nbsp; He can be contacted at janardanpant@gmail.com)</i></span></span></strong></p>
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	<span style="font-size:12px;"><span aldine401="" color:="" letter-spacing:="" style="line-height: 115%;"><i><br />
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	<span style="color: rgb(255, 140, 0);"><strong><i><span style="font-size: 8pt; line-height: 120%; font-family: &quot;Lucida Bright&quot;,&quot;serif&quot;; letter-spacing: -0.15pt;">By Dr Rabindra Karna</span></i></strong></span></p>
<p class="BODYTEXT" style="text-indent: 0in; text-align: justify;">
	<span style="font-size: 16px;"><b><span style="letter-spacing: 0.25pt;">T</span></b></span><span style="letter-spacing: 0.25pt;">o know the role of Performance Management, itâ€™s essential to agree on the objective of management. If we collate different views of different management scientists, we can come to a consensus that the objective of management is: to achieve the intended business destination through effective, efficient and economic utilization of people, material, time, information and fund.â€ <br />
	</span></p>
<p class="BODYTEXT" style="text-align: justify;">
	It covers all four key elements â€“ job improvement, skills enhancement, task management and internal relationship. It is through the combination of these that achievement of intended destination is ensured. Thus to manage a business effectively, there must be a close link between the work planning, proceeding and review procedure because factors affecting business and people performance interact on each other. </p>
<p class="BODYTEXT" style="text-align: justify;">
	The management needs to institutionalize and demonstrate latest management techniques, approaches/principles and philosophies to synergize cumulative human endeavour. This can be achieved only through a dynamic change agent driving the change process embodying these qualities for common growth and actualization of the organisationâ€™s potentials. </p>
<p class="BODYTEXT" style="text-align: justify;">
	In the total management philosophies, there has been unanimous alignment about people resources and it is all agreed that without proper people organization blocks, it would not only be difficult but impossible to eye on any intended achievement without people engagement. Scientific management theory describes 5 key block builders of Human Organization:</p>
<p class="bullet">
	1.<span style="">&nbsp;&nbsp;&nbsp;&nbsp; </span>Work Cycle: Assignments should be specialized and set to smallest possible work cycle.</p>
<p class="bullet">
	2.<span style="">&nbsp;&nbsp;&nbsp; </span>Process: Same process be used whilst performing same task in repetition</p>
<p class="bullet">
	3.<span style="">&nbsp;&nbsp;&nbsp; </span>Leadership: Effective leadership should be demonstrated in decision making</p>
<p class="bullet">
	4.<span style="">&nbsp;&nbsp;&nbsp; </span>Uniformity: In view of equity and consistency, policies must be uniform<span style=""> </span>across the business.</p>
<p class="bullet">
	5.<span style="">&nbsp;&nbsp;&nbsp; </span>Exclusivity: Duplication of functions is widely discouraged and thus assignment exclusivity becomes a must in view of task ownership.<span style="">&nbsp;&nbsp;&nbsp;</span> </p>
<p class="BODYTEXT" style="text-align: justify;">
	<span style="letter-spacing: 0.15pt;">With the understanding that the people are important, itâ€™s obvious that we need to relate our efforts to achieve with the social perception within organization.<span style="">&nbsp; </span>Itâ€™s obvious that social behavior is learnt in the form of acceptability within a work environment and we continue to learn and adapt through comparing one another.<span style="">&nbsp; </span>Being social animals, the humans make comprehensive arrangements for living and performing with one another and managing the environment. We could perceive most social situations as a negotiation, an interview, a presentation/workshop, an attempt to leadership, etc. Organizations or their people recognise the existence of a problem when they perceive that their goals are inconsistent with one another or when discrepancies between want/desire and expectations are experienced. <br />
	</span></p>
<p class="BODYTEXT" style="text-align: justify;">
	However, to have consistency in business results as well as in peopleâ€™s productivity and social acknowledgement, we need to pay special attention to Performance Management and that requires serious attention to meet expectations or achieve desired results. </p>
<p class="BODYTEXT" style="text-align: justify;">
	<span style="letter-spacing: 0.2pt;">In the light of the above, there cannot be a disagreement, if we say that Performance Management is thus one of the most essential elements of Management and most desired to be in place for institution and/or investments. <br />
	</span></p>
<p class="BODYTEXT" style="text-align: justify;">
	<span style="letter-spacing: 0.2pt;">The article is not intended to describe the steps or process of performance management. Rather it is intended to discuss various elements and/or contributing factors of performance management in day to day work life. Various research works suggest:</span></p>
<p class="bullet" style="text-align: justify;">
	<b>1.<span style="">&nbsp;&nbsp;&nbsp;&nbsp; </span>Regular Communication at work:</b> Employees mostly show concerns pertaining to the quality and quantity of communication at work.<span style="">&nbsp; </span>Inadequate and ineffective communication results in loss of cooperation and coordination, decreased productivity, undesired pressure, increased human turnover, absenteeism, rumors etc and there wonâ€™t be any disagreement that all these have huge impact on both personal and organizational performance. Hence, it would be wise to have two way clear, effective and regular communication within the organization to attain the desired performance.</p>
<p class="bullet" style="margin-top: 2.85pt; text-align: justify;">
	<b>2.<span style="">&nbsp;&nbsp;&nbsp; </span>Build Trust:</b> It has been widely experienced in daily work life that lack of trust among the members of the work team is very damaging. HR practitioners must accept that the performance management tools should not be considered as the only HR tools. Research works suggest that HUMILITY is one of the best to generate trust within organization. Managers or HR practitioners who are ready to acknowledge mistakes have been considered as highly competent. Even mediocre people are accepted easily saying, â€œYou are trustworthy because you have courage to admit a mistakeâ€. One must be seen by other members not as a competitor but as a collaborator. Trust encourages people to focus on productivity instead of remaining suspicious for every action of Management.</p>
<p class="bullet" style="margin-top: 5.65pt; text-align: justify;">
	<b>3.<span style="">&nbsp;&nbsp;&nbsp; </span>Satisfy Customers: </b>Customer service must be improved starting from the office of the top management (e.g. Managing Director, CEO, GM etc.). Commitment must be communicated to all the levels (internal &amp; external). An awareness drive can be launched for improvement on customer service. Customers also want to feel that you value them and their business. Loyal customers market the company. This way, the customer satisfaction becomes an important key in driving performance.</p>
<p class="bullet" style="margin-top: 5.65pt; text-align: justify;">
	<b>4.<span style="">&nbsp;&nbsp;&nbsp; </span> Get Along:</b> Relationship, conflict, resentment etc. have a big negative impact on performance. Evaluate and encourage change process by allowing a fostering team spirit. Encourage discussions that lead to pointing out inconsistencies in the actions and outcomes against the agreed goals and priorities. Changes in behaviour, generating better understanding across the business, creating common goal and priority and showing concerns about one anotherâ€™s personal constraints as well as providing support in the hours of need will foster the team spirit and help building everlasting relationship.<span style="">&nbsp; </span>When the people get along, the tasks get done well and quality performance emerges automatically.</p>
<p class="bullet" style="margin-top: 5.65pt; text-align: justify;">
	<b><span style="letter-spacing: -0.15pt;">5.<span style="">&nbsp;&nbsp;&nbsp; </span>Full Attention:</span></b><span style="letter-spacing: -0.15pt;"> It would be wise to keep everyone informed of expectations from them. The people should be engaged to find solutions to troubles as well as pursuing alternates. Not just talk about open door policy, practice it. Allow people to disagree so that new ideas emerge. Adequate and/or increasing response confirms attentiveness. Listening and recognizing ideas with full involvement encourages participation. Full attention to othersâ€™ views, ideas, suggestion and communication generate energy within the team and reflects respect to each other. Most of the time, productive ideas donâ€™t get implemented due to the lack of attention. Improvement often comes from small efforts that were previously sent back without enough attention paid to them. If you encourage team to take RISK, your behaviour too must match your word so that the others in the team are confident that they are being heard with full attention. Ensure that the reminders or follow-ups about agreed move are sent in time. This will encourage participation and certainly will result in improved productivity. <br />
	</span></p>
<p class="bullet" style="text-align: justify;">
	<span style="">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </span>To conclude, research works show that performance management and performance evaluation are two different poles of the magnet.<span style="">&nbsp; </span>But both of them have the same purpose. The keys to performance are in the answers to the following questions: What is expected of us? What are we doing? What next? How are we doing? How should we be doing? When we must be doing? Why we should or must be doing?</p>
<p class="BODYTEXT">
	<span style="letter-spacing: 0.1pt;">Once, genuine answers to these are derived, Performance Management becomes integral part of our daily work life. </span></p>
<p class="BODYTEXT">
	<span style="letter-spacing: 0.1pt;">&nbsp;</span></p>
<p class="BODYTEXT" style="margin-top: 2.85pt; text-align: justify;">
	<i>(Dr Karna is Executive Chairperson, MARK Business Solutions Pvt Ltd &amp; Ad Abhyas Marketing &amp; Communications Pvt Ltd He says this article is based on various research reports and practical experiences.)</i></p>
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	<span style="font-size:14px;"><span style="font-family: times new roman,times,serif;"><span class="MyriadPro"><span style="letter-spacing: -0.05pt;"><strong><span style="color:#f00;"><em>New Comers<br />
	</em></span><br />
	<br />
	Rajiv Desraj Shrestha</strong> has joined Vijay Motors Pvt. Ltd. as General Manager. Earlier, he was Executive Manager of Dwarikaâ€™s Hotel. <br />
	<br />
	</span></span></span></span></p>
<p class="BODYTEXT" style="margin-top: 5.65pt; text-align: justify; text-indent: 0in;">
	<span style="font-size:14px;"><span style="font-family: times new roman,times,serif;"><span class="MyriadPro"><span style="letter-spacing: -0.05pt;"><strong>Laxman Khadka</strong> has joined Hotel Landmark, Pokhara as General Manager. Earlier, he was with Hotel Barahi, Pokhara at the same position. Similarly, Narahari Giri and Ashok Chalise have also joined Landmark as F &amp; B Manager and Restaurant Manager respectively. Earlier, Giri was with Bhanchhaghar Restaurant, Kathmandu as General Manager and Chalise at Hotel Himalaya as Maitre De. <br />
	<br />
	</span></span></span></span></p>
<p class="BODYTEXT" style="margin-top: 5.65pt; text-align: justify; text-indent: 0in;">
	<span style="font-size:14px;"><span style="font-family: times new roman,times,serif;"><span class="MyriadPro"><span style="letter-spacing: -0.05pt;"><strong>Rabindra Raut</strong> has joined SNV (Netherlands Development Organization) Nepal as Tea Value Chain Development Advisor. Earlier, he was with Vijay Motors Pvt Ltd as the General Manager. <br />
	<br />
	</span></span></span></span></p>
<p class="BODYTEXT" style="margin-top: 5.65pt; text-align: justify; text-indent: 0in;">
	<span style="font-size:14px;"><span style="font-family: times new roman,times,serif;"><span class="MyriadPro"><span style="letter-spacing: -0.05pt;"><strong>Upendra Napit </strong>has joined Leon Motor Pvt. Ltd. - the Sub Distributor of Mitsubishi motors for Nepal as General Manager. Earlier, he was Customer Service Manager of Padma Shree Pvt. Ltd. - the distributor of Mazda motors in Nepal. <br />
	<br />
	</span></span></span></span></p>
<p class="BODYTEXT" style="margin-top: 5.65pt; text-align: justify; text-indent: 0in;">
	<span style="font-size:14px;"><span style="font-family: times new roman,times,serif;"><span class="MyriadPro"><span style="letter-spacing: -0.05pt;"><strong>Raj Kumar KC</strong> has joined Hotel Barahi, Pokhara as Operation Manager. Earlier, he was with Shangri-La Village Pokhara as F &amp; B Manager. <br />
	<br />
	</span></span></span></span></p>
<p class="BODYTEXT" style="margin-top: 5.65pt; text-align: justify; text-indent: 0in;">
	<span style="font-size:14px;"><span style="font-family: times new roman,times,serif;"><span class="MyriadPro"><span style="letter-spacing: -0.05pt;"><strong>R B Neupane </strong>has joined Shangri-La Village Pokhara as F &amp; B Manager. Earlier he was working in India. <br />
	<br />
	</span></span></span></span></p>
<p align="left" class="BODYTEXT" style="margin-top: 5.65pt; text-align: left; text-indent: 0in;">
	<strong><span style="font-size:14px;"><span style="font-family: times new roman,times,serif;"><span class="MyriadPro"><i><span style="color: rgb(237, 28, 36); letter-spacing: -0.05pt;">Newcomers at Capital Merchant Banking and Finance <br />
	<br />
	</span></i></span></span></span></strong></p>
<p class="BODYTEXT" style="margin-top: 5.65pt; text-align: justify; text-indent: 0in;">
	<span style="font-size:14px;"><span style="font-family: times new roman,times,serif;"><span class="MyriadPro"><span style="letter-spacing: -0.05pt;"><strong>Bikash Singh Chauhan</strong> has joined Capital Merchant Banking and Finance Ltd. (CMBFL) as the Branch Manager of Damak branch. Earlier he was Sr. Accountant (Administration &amp; Loan Department) of Kankai Bikash Bank Ltd., Jhapa. Lekhraj Poudel has joined CMBFL as&nbsp; Branch Manager of Birtamode branch. Earlier he was with Gorkha Development Bank, Damak as Loan In-charge. Krishna Prasad Luitel has joined CMBFL as Branch Manager of Itahari branch. Earlier, he was Asst. Manager in Public Development Bank, Biratnagar. <br />
	<br />
	</span></span></span></span></p>
<p align="left" class="BODYTEXT" style="margin-top: 5.65pt; text-align: left; text-indent: 0in;">
	<strong><span style="font-size:14px;"><span style="font-family: times new roman,times,serif;"><span class="MyriadPro"><i><span style="color: rgb(237, 28, 36); letter-spacing: -0.05pt;">Promotions &amp; Transfers at NIC Bank <br />
	<br />
	</span></i></span></span></span></strong></p>
<p class="BODYTEXT" style="margin-top: 5.65pt; text-align: justify; text-indent: 0in;">
	<span style="font-size:14px;"><span style="font-family: times new roman,times,serif;"><span class="MyriadPro"><span style="letter-spacing: -0.05pt;"><strong>Sunil Moktan</strong> of NIC Bank has been promoted and transferred to New Baneshwor branch as Branch Manager from Operation In-charge of Satdobato branch. Rima S. Joshi has been promoted and transferred to Thamel branch as Branch Manager from Customer Service In-charge of Biratnagar branch. Kiran Bhattarai has been promoted and transferred to Maharajgunj branch as Branch Manager from Deposit Marketing Officer of Pepsi Chowk branch. Rabi Shrestha has been promoted as Branch Manager to Thankot branch from Operation In-charge of Surkhet branch. <br />
	<br />
	</span></span></span></span></p>
<p align="left" class="BODYTEXT" style="margin-top: 5.65pt; text-align: left; text-indent: 0in;">
	<strong><span style="font-size:14px;"><span style="font-family: times new roman,times,serif;"><span class="MyriadPro"><i><span style="color: rgb(237, 28, 36); letter-spacing: -0.05pt;">Promotion at Prabhu Finance Company <br />
	<br />
	</span></i></span></span></span></strong></p>
<p class="BODYTEXT" style="margin-top: 5.65pt; text-align: justify; text-indent: 0in;">
	<span style="font-size:14px;"><span style="font-family: times new roman,times,serif;"><span class="MyriadPro"><span style="letter-spacing: -0.05pt;"><strong>Kshitiz Shakya</strong> of Prabhu Finance Company Ltd. has been promoted as Branch Manager of New Road branch from Head of IT Department in the main branch of the company. <br />
	<br />
	</span></span></span></span></p>
<p align="left" class="BODYTEXT" style="margin-top: 5.65pt; text-align: left; text-indent: 0in;">
	<strong><span style="font-size:14px;"><span style="font-family: times new roman,times,serif;"><span class="MyriadPro"><i><span style="color: rgb(237, 28, 36); letter-spacing: -0.05pt;">Transfers at Nabil Bank<br />
	<br />
	</span></i></span></span></span></strong></p>
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	<span style="font-size:14px;"><span style="font-family: times new roman,times,serif;"><span class="MyriadPro"><span style="letter-spacing: 0.1pt;"><strong>Sukra Bhattarai</strong> of Nabil Bank has been transferred to Gwarko branch as Branch Manager from Branch Manager of Balwari, Rupandehi branch. Neeta Rajkarnikar has been transferred to Gwarko branch as Operation In-charge from Customer Service and Clearing In-charge of Pulchowk branch. Benu Raut has been transferred to Dhapasi Branch as Branch Manager from Branch Manager of Damak branch. Maheshwor Rimal has been transferred to Sinamangal branch as Branch Manager from Operation In-charge of Pokhara branch. Mohan Kafle has been transferred to Anamnagar branch as Branch Manager from Operation In-charge of Chabahil branch. Digendra Chand has been transferred to Aattarkhel branch as Branch Manager from Senior Officer of Central Trade Operations department at the Head office of the bank.</span></span><span style="line-height: 115%;"> <br />
	<br />
	<br />
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<p class="ANSWER" style="text-align: justify;">
	<span style="color: rgb(165, 42, 42);"><span style="font-size: 11px;"><span lang="EN-GB" style="letter-spacing: 0.25pt;">Takeyushi SATO <i>(left in the pic)</i> and Dattatraya Joshi, Managing Director and Vice President, respectively, of Hitachi Koki India, a subsidiary of Hitachi Koki Japan, were in Nepal to officially launch their products â€“ the Hitachi power equipments through Kathmandu Power Solutions (KPS). Excerpts from a joint interview:&nbsp; </span><span style="color: rgb(255, 140, 0);"><span lang="EN-GB" style="letter-spacing: 0.15pt;"><br />
	</span></span></span></span></p>
<p class="QUESTION">
	<em><span style="color: rgb(255, 140, 0);"><span lang="EN-GB" style="letter-spacing: 0.15pt;">How is Hitachi Koki doing in India? </span></span></em></p>
<p class="ANSWER" style="text-align: justify;">
	<span lang="EN-GB" style="letter-spacing: 0.15pt;">Dattatraya Joshi: It was set up in 1996 and it has its headquarters in Bangalore.<span style="">&nbsp; </span>We are into marketing of power tools in India where we have seven branches. We have an assembly facility in Bangalore. We also import finished products of Hitachi from Japan, Malaysia, China and other places. <br />
	</span></p>
<p class="QUESTION">
	<span style="color: rgb(255, 140, 0);"><em><span lang="EN-GB" style="letter-spacing: 0.15pt;">How do you view the market of electronics in Nepal?</span></em></span></p>
<p class="ANSWER" style="text-align: justify;">
	<span lang="EN-GB" style="letter-spacing: 0.15pt;">Joshi: Before appointing KPS as our distributer, we have had a small survey on the market in Nepal. Since we have studied this market carefully, we have understood the opportunities here. We know the competitors, their strengths, strategies and weaknesses. Certainly, we are very confident about having a reasonable market share in Nepal in the coming months. <span style="color: rgb(255, 140, 0);"><em><br />
	</em></span></span></p>
<p class="QUESTION">
	<span style="color: rgb(255, 140, 0);"><em><span lang="EN-GB" style="letter-spacing: 0.15pt;">What are the features of your products?</span></em></span></p>
<p class="QUESTION" style="text-align: justify;">
	<span lang="EN-GB" style="letter-spacing: 0.15pt;">Takeyushi SATO: Our products are basically power equipments like mechanised drillers, cutters and screw drivers. Joshi will tell more on it. Joshi: Our products have unique features compared to our competitors. In Nepal, we have launched 28 products. Hitachi worldwide has 700 different models. We will introduce more products in Nepali market as per the demand and requirement.<span style="">&nbsp;</span> <br />
	</span></p>
<p class="QUESTION">
	<span style="color: rgb(255, 140, 0);"><em><span lang="EN-GB" style="letter-spacing: 0.15pt;">What prospects do you see for your products in Nepal?</span></em></span></p>
<p class="QUESTION" style="text-align: justify;">
	<span lang="EN-GB" style="letter-spacing: 0.15pt;">SATO: I see a lot of prospects here. Our products consume less electricity and have long life. They are good in quality. Joshi: Nepal is basically severe power-shortage country. Our low power consuming products will prove quite handy here. We also know that many power projects are in the pipeline. Our products are eco-friendly and are quite useful in construction works. We see a lot of opportunities here. <br />
	</span></p>
<p class="QUESTION">
	<span style="color: rgb(255, 140, 0);"><em><span lang="EN-GB" style="letter-spacing: 0.15pt;">What could be the problems and challenges in Nepal?</span></em></span></p>
<p class="QUESTION" style="text-align: justify;">
	<span lang="EN-GB" style="letter-spacing: 0.15pt;">SATO: I do not see that much challenge as our main feature will be the after sales service. Chinese or other products may not have that. <br />
	</span></p>
<p class="QUESTION" style="text-align: justify;">
	<span lang="EN-GB" style="letter-spacing: 0.15pt;">Joshi: I do not see a major challenge here. Our power tools are innovative and durable. The power tools market in Nepal is dominated by Chinese products, about which the people have the general perception that they are simply â€˜use and throwâ€™ items. We want to show the users a different path in which they will be entitled to get the qualitative after sales service as well.<span style="">&nbsp; </span>After months or years of use, the end users can go to the service provider, fix the machines and reuse them.<span style="">&nbsp;</span> <br />
	</span></p>
<p class="QUESTION">
	<span style="color: rgb(255, 140, 0);"><em><span lang="EN-GB" style="letter-spacing: 0.15pt;">What could be your market strategy in Nepal?</span></em></span></p>
<p class="ANSWER" style="text-align: justify;">
	<span lang="EN-GB" style="letter-spacing: 0.15pt;">Joshi: We will share our Indian experience and advise our distributer KPS here in creating distribution network, ensuring constant availability of our products and doing some promotional activities.<span style="">&nbsp; </span>We will formulate more marketing strategy depending upon the situation. <br />
	</span></p>
<p class="QUESTION">
	<span style="color: rgb(255, 140, 0);"><em><span lang="EN-GB" style="letter-spacing: 0.15pt;">What about market share?</span></em></span></p>
<p class="QUESTION">
	<span lang="EN-GB" style="letter-spacing: 0.15pt;">SATO: Our first target will be to achieve a two-digit market share. <br />
	</span></p>
<p class="QUESTION">
	<span style="color: rgb(255, 140, 0);"><em><span lang="EN-GB" style="letter-spacing: 0.15pt;">Who are your competitors?</span></em></span></p>
<p class="MsoNormal" style="text-align: justify;">
	<span lang="EN-GB" style="letter-spacing: 0.15pt;">SATO: Bosch, a German multinational is the market leader in Nepal in the upper segment, i.e., the branded products. The other major players are Makita (Japan) and Dewald (USA). Including Hitachi now, the competition will be among these four branded companies. We do not have competition with low priced Chinese products, as we are not targeting that particular market segment. Our focus is only on upper segment.</span> </p>',
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	<b><span aldine401="" bt="" color:="" letter-spacing:="" serif="" style="font-size: 55.5pt;"><span style="font-size: 16px;">B</span></span></b><span aldine401="" bt="" color:="" letter-spacing:="" serif="" style="font-size: 9.5pt;">ank of Kathmandu (BOK) has two distinct identities. One, it is among the few commercial banks managed entirely by Nepali professionals. Second, it is the only commercial bank with more shares in the hands of the public shareholders than with the promoters. The Bank recorded some 25 per cent increase in its net profit in the first quarter of the current fiscal year (2010/11). In the first quarter of last fiscal year (2009/10), the Bank had a net profit of Rs 120 million. In this yearâ€™s corresponding period, the Bankâ€™s net profit rose by some 40 million to cross Rs 160 million. <br />
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	<span aldine401="" bt="" color:="" letter-spacing:="" serif="" style="font-size: 9.5pt;">â€œThis time around, it was not wise to thicken the balance sheet by increasing deposits. Rather, we focused on increasing the net profit,â€ says Ajay Shrestha, Chief Executive Officer of the Bank since February 2010. â€œAggressive deposit increase would only add to the costs. Thatâ€™s why, we diverted our focus.â€ <br />
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	<span aldine401="" bt="" color:="" letter-spacing:="" serif="" style="font-size: 9.5pt;">Though Shrestha joined BOK as its CEO just one year ago, he was not a complete stranger. He was the duty of the CEO in BOK for some six years and had left it to work in another bank. It was only two years gap when he rejoined BOK in February 2010. <br />
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	<span aldine401="" bt="" color:="" letter-spacing:="" serif="" style="font-size: 9.5pt;">As of today, the total deposit of the Bank is around Rs 18 billion and the loan outstanding is around Rs 17 billion. â€œWe are observing whether the same growth in profit margin will sustain in the coming quarters as well,â€ Shrestha adds. â€œOur effort will be to gain a reasonable growth in the profitability. Overall, our balance sheet is stable.â€ <br />
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	<span aldine401="" bt="" color:="" letter-spacing:="" serif="" style="font-size: 9.5pt;">BOK started operation in March 1995 as a joint venture with the Siam Commercial Bank of Thailand. But the Bank could not do well due to various problems and the main reason cited is the â€˜mixed-culture managementâ€™ of that time with Nepali and Thai management style not finding synergy. <br />
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	<span aldine401="" bt="" color:="" letter-spacing:="" serif="" style="font-size: 9.5pt;">So, Siam Commercial Bank pulled out in the year 2000 selling its shares to the general Nepali public. The result was that the Bankâ€™s management came to entirely Nepali hands and the performance of the Bank started turning around. The efforts undertaken during 2001-2004 period set the foundation for the Bankâ€™s success in the following years, notes Shrestha. <br />
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	<span aldine401="" bt="" color:="" letter-spacing:="" serif="" style="font-size: 9.5pt;">During this period, the Bank changed the customer profile. It focused on importers and exporters and also started project financing in areas such as medical colleges and hydropower. Though the Bank continued financing the corporate sector, it also initiated retail banking at the same time. Under retail banking, the Bank encouraged small account holders to open â€˜Sajilo Bachat Khataâ€™ which translates to â€˜easy saving accountâ€™. <br />
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	<span aldine401="" bt="" color:="" letter-spacing:="" serif="" style="font-size: 9.5pt;">Today, the Bank has 37 branches including the head office at Kamaladi, Kathmandu, 41 ATM outlets and 6 extension counters across the country. <br />
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	<span aldine401="" bt="" color:="" letter-spacing:="" serif="" style="font-size: 9.5pt;">According to Shrestha, the human resource management of the bank is based on the concept of looking basically on two factors: recruitment standard and growth potential. â€œUnder the first, we evaluate whether the new recruit is as per the level and requirements that we have set. Under the second, we provide growth potentials within the organisation for the hired ones.â€ <br />
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	<span aldine401="" bt="" color:="" letter-spacing:="" serif="" style="font-size: 9.5pt;">The Bank, however, is not always lucky to get the manpower of required quality. Though most of the newcomers have a management degree, they still need brushing up their skills. The reason is that the fresh graduates are mostly with academic background in finance but the Bank needs people also for non-finance fields such as marketing, general management etc. This sometimes creates problems for the Bank. Marketing is very crucial for a bank to sustain and expand. â€œBut, we donâ€™t often get the manpower trained and educated on quality marketing,â€ laments Shrestha. <br />
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	<span aldine401="" bt="" color:="" letter-spacing:="" serif="" style="font-size: 9.5pt;">However, the challenges in the human resource field donâ€™t end there. As the competition is stiff in banking sector, one bankâ€™s capable employees are lured by other banks offering attractive perks and benefits. According to Shrestha, his bank is facing this challenge by continuous training process. He stresses that as long as a bank has the capacity to train its staff, it would not be a problem when some individuals leave the bank. <br />
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	<span aldine401="" bt="" color:="" letter-spacing:="" serif="" style="font-size: 9.5pt;">At present, the number of employees with the Bank is 780. <br />
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	<span aldine401="" bt="" color:="" letter-spacing:="" serif="" style="font-size: 9.5pt;">According to the opinion of Shrestha, the people donâ€™t differentiate between the banks much. For them, bank A and bank B are the same, he says and underlines the need to educate the people so that they could differentiate between the banks. <br />
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	<span aldine401="" bt="" color:="" letter-spacing:="" serif="" style="font-size: 9.5pt;">When Shrestha rejoined BOK as its CEO in February 2010, Shrestha mainly concentrated on two initiatives to increase the customer base. First, he offered higher interest rates to small depositors and next, he brought the â€˜unbankedâ€™ population to banking service. In this connection, the Bank paid attention to expanding customer base outside the Kathmandu valley. And the result is that, in the last 10 months or so, some 30 thousand new accounts were opened in the Bank. â€œWe ran a campaign making people aware that deposits are important in life. Being present ourselves in the field, we helped women, the disabled and the low income people open their own bank accounts,â€ says he. <br />
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	<span aldine401="" bt="" color:="" letter-spacing:="" serif="" style="font-size: 9.5pt;">An account can be opened in BOK with Rs 1000 as balance to which the Bank adds Rs 300 from its side, thus making the â€˜seed moneyâ€™ rise up to Rs 1300. The Bank has also removed the minimum deposit requirement in the fixed deposit. However, BOK has not offered â€˜zero balanceâ€™ or â€˜Rs 1â€ accounts that many other banks are offering.<span style="">&nbsp; </span>â€œZero balance or Rs 1 accounts may not help the people to learn about generating value from their deposits. Thatâ€™s why we did not go for that,â€ explains Shrestha.<span style="">&nbsp;</span> <br />
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	<span aldine401="" bt="" color:="" letter-spacing:="" serif="" style="font-size: 9.5pt;">Another strategic decision of the Bank is to focus its lending to a few areas so that the profiting position is not lost. Therefore, the Bank is providing only a few types of loans such as corporate loan, SME loan, retail loan, credit card and development credit. The Bank has plans to become even more focused, reveals Shrestha. <br />
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	<span aldine401="" bt="" color:="" letter-spacing:="" serif="" style="font-size: 9.5pt;">The Bank has changed even its focus in Corporate Social Responsibility. In the past, the Bankâ€™s key priority areas used to be education, health and environment. But for the past few years, the Bank has been focusing on finance and banking. Under this, the Bank has been campaigning to raise peopleâ€™s awareness on the value of deposits with the slogan, â€œWe make your life easier.â€ <br />
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	<span aldine401="" bt="" color:="" letter-spacing:="" serif="" style="font-size: 9.5pt; line-height: 115%;">Shresthaâ€™s management mantra is efficiency, not volume. â€˜Efficiency is a must for a bankâ€™s survivalâ€™ is his refrain. </span><span style="font-size: 6.5pt; line-height: 115%; font-family: Wingdings; color: rgb(237, 28, 36); letter-spacing: -0.15pt;"><span style="">&nbsp;</span> <br />
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<p style="text-align: center;">
	<span style="font-size: 24px;"><span style="font-family: &quot;Franklin Gothic Heavy&quot;,&quot;sans-serif&quot;; color: rgb(237, 28, 36);">NIC Bankâ€™s</span><span style="font-family: &quot;Franklin Gothic Heavy&quot;,&quot;sans-serif&quot;; color: rgb(46, 48, 146);">&nbsp; Productive </span><span style="line-height: 115%; font-family: &quot;Franklin Gothic Heavy&quot;,&quot;sans-serif&quot;; color: rgb(46, 48, 146);">Orientation</span></span></p>
<p style="text-align: justify;">
	<span style="font-size: 55.5pt; letter-spacing: -0.2pt;"><span style="font-size: 20px;"><span style="font-size: 18px;">W</span></span></span><span style="letter-spacing: -0.2pt;">ith the conclusion of its 13th Annual General Meeting, Nepal Industrial and Commercial Bank Limited (NIC) has decided to distribute a cash dividend of 26.32 per cent. This is one of the highest dividend payout by any bank in 2010. The Bank posted a Net Profit of Rs 449.8 million in FY 2009/10 which is 42 per cent more than last year. The Bankâ€™s Non-Performing Loans are very low at 0.7 per cent. Similarly, in the first four months of this year, the Bank has posted an operating profit of Rs 289 million. The investment of the Bank has also increased from Rs 3.026 billion to Rs 4.947 billion in FY 2009/10 which signifies 63 per cent growth. â€œOur investment portfolio clearly indicates that our exposure in productive sector is more than 90 per cent. We continue to capitalize on our strengths by increasing our investment in this sector. However, Small and Medium Enterprise sector will be focused more,â€ says Sunil Pokharel, Head, Retail Banking, NIC Bank. <br />
	</span></p>
<p class="BODYTEXT">
	<span style="letter-spacing: -0.2pt;">The total workforce of the Bank is 320 with 33 per cent female. <br />
	</span></p>
<p class="BODYTEXT" style="text-align: justify;">
	<span style="letter-spacing: -0.2pt;">NIC Bank had commenced its operation on 21st July, 1998 with its head office in Biratnagar. Promoted by several prominent business houses of Nepal, it started with a capital of Rs 500 million which was the highest paid up capital of any bank at that time. The paid-up capital increased to Rs 1.31 billion in FY 2009/10. The Bank has been in profit since its inception and has recorded a robust growth in its overall business and profitability during the recent years. <br />
	</span></p>
<p class="BODYTEXT" style="text-align: justify;">
	<span style="letter-spacing: -0.2pt;">The Bank has been consistently embarking on sustainable network expansion and has successfully added several new branches every year in strategic new locations. At present, the Bank has a total of 28 branches and 26 ATMs across the country serving more than 112,000 customers. The Bank will shortly be opening four more branches and adding 10 ATMs. All its branches are inter-connected through V-SAT and optical-fibre network which is capable of providing on-line real time transactions. <br />
	</span></p>
<p class="BODYTEXT" style="text-align: justify;">
	<span style="letter-spacing: -0.2pt;">Being the first ISO 9001:2008 certified commercial bank of the country, NIC has raised the bars on competition and become more committed towards delivering quality and superior products and services to the customers as well as maintaining corporate governance within its staffs. <br />
	</span></p>
<p class="BODYTEXT" style="text-align: justify;">
	<span style="letter-spacing: -0.2pt;">NIC Bank has played a pioneering role in the Nepali banking sector introducing innovative and customized products and services to its customers. Deposit Products, Business Banking, SME Banking, Consumer Banking, Transaction Banking and Bullion Business are some of the products and services offered by NIC. â€œWe are the first bank to introduce Savings Account Scheme bundled with life insurance. Also, we are the first to introduce fixed deposit account with the ease of a savings account. Recently, we have launched â€œComplete Savings Accountsâ€ â€“ a truly hassle free account for an individual and â€œNIC- Remit Savings Accountsâ€ with unique features for those receiving fund from overseas,â€ says Pokharel.<span style="">&nbsp;</span> <br />
	</span></p>
<p class="BODYTEXT" style="text-align: justify;">
	<span style="letter-spacing: -0.2pt;">NIC was awarded â€œBank of the Year 2007â€ honour by The Banker Magazine, Financial Times, London. Besides this, it is the first bank in Nepal to be provided a line of credit by International Finance Corporation (IFC), an arm of World Bank Group under its Global Trade Finance Program, enabling the Bankâ€™s Letter of Credit and Guarantee to be accepted by more than 200 banks worldwide. Also, it is the first bank to offer bullion trading and to offer lowest-price home loan schemes. <br />
	</span></p>
<p class="BODYTEXT" style="text-align: justify;">
	<span style="letter-spacing: -0.2pt;">Over the course of five successive fiscal years, the bankâ€™s performance has been tremendous. The Compounded Annual Growth Rate (CAGR) of the bank<span style="">&nbsp; </span>is one of the highest in the industry for the last five years (see table). â€œThe competition has always been tough. The increasing numbers of banks have now forced to come out from its comfort zone to provide quality services and look for new avenues in order to increase revenue by introducing new and innovative products to its customers. Therefore, we cannot be an exception,â€ says Pokharel. He adds, â€œWe consider ourselves at the adolescence stage of corporate life cycle and there is a long way to have a turning point. We strongly believe in a positive corporate cultureâ€.<span style="">&nbsp;</span> <br />
	</span></p>
<p class="BODYTEXT" style="text-align: justify;">
	<span style="letter-spacing: -0.2pt;">The bank has special and distinct Corporate Social Responsibility (CSR) practice. It has sponsored many events and programs which mainly focus on enabling talent through education, creating opportunities through social investments and corporate volunteering. All the contributions and sponsorships come under the Bankâ€™s CSR. As a responsible corporate house, NIC Bank contributes to the society in various ways through NIC Foundation (NICF), an independent non-profit organization promoted by the Bank. The foundationâ€™s main objective is to bring positive societal changes through charitable works. It aims at helping marginalized and underprivileged communities through education, health and skill development. NIC has been providing scholarship to under privileged but meritorious girl children in Kathmandu. It has also been providing scholarship to the visually challenged students who hail from Jumla to pursue their higher education in Kathmandu. It has donated computers to a school of a remote area and provided financial assistance to an orphanage in Birgunj. It has donated two ambulances in Mid-Western Regional Hospital in Surkhet. It has also helped in construction of Mata Tripurasundari Temple at Dhobighat, Lalitpur and has supported to construct a trail from Kusma to Modi Beni in Parbat district. The Bank has also been organizing a Blood Donation Campaign every year. Furthermore, the Bank has also donated for the flood victims in Koshi and diarrhoea victims in Jajarkot. The Bank has recently taken initiatives for the development of sports in Nepal and has sponsored National Open Gymnastics Championship. NICFâ€™s programs are sustained by the Bankâ€™s contribution of 0.5 per cent from its annual profits. NIC is the only bank to have fixed the proportion of its profit to be set aside for such cause. <br />
	</span></p>
<p class="MsoNormal">
	<span style="letter-spacing: -0.2pt;">Being a well established brand with 12 years history, NIC aims to continue striving for better performance and exceed the expectation of all stakeholders. Precisely, the Bankâ€™s future plans are based on providing â€œComplete Financial Solutionsâ€ to the customers and good return on investment to its shareholders. â€œApart from increasing footprints and investment in technology and system-upgradation (core banking system), we are also coming with new tailor made products to serve our anticipated customer needs. Also, we are bringing innovative products and services suitable for corporate customers as well as retail customers,â€ says Pokharel. </span></p>
<p class="MsoNormal" style="text-align: center;">
	<span style="font-size: 24px;"><span color:="" franklin="" gothic="" heavy="" sans-serif="">Imperial Finance</span><span color:="" franklin="" gothic="" heavy="" sans-serif="">: </span><span style="line-height: 115%; font-family: FranklinGothic; color: rgb(0, 94, 157);">Slow but Steady Steps</span></span></p>
<p class="MsoNormal" style="margin-bottom: 0.0001pt; line-height: 11pt; vertical-align: middle; text-align: justify;">
	<span aldine401="" bt="" color:="" serif="" style="font-size: 9.5pt;">Imperial Finance Limited opened a branch on January 14, 2011 at New Road of Kathmandu. Though the company now has only two branches, the presence in the main business centre of the capital gives a very positive message as it is sure to contribute to the business expansion of the company. Established in March 2006 with Rs 50 million as the paid up capital, the company is growing robust with the capital now increased to Rs 150 million. <br />
	</span></p>
<p class="MsoNormal" style="margin-bottom: 0.0001pt; text-align: justify; text-indent: 14.15pt; line-height: 11pt; vertical-align: middle;">
	<span aldine401="" bt="" color:="" serif="" style="font-size: 9.5pt;"><br />
	</span></p>
<p class="MsoNormal" style="margin-bottom: 0.0001pt; text-align: justify; text-indent: 14.15pt; line-height: 11pt; vertical-align: middle;">
	<span aldine401="" bt="" color:="" serif="" style="font-size: 9.5pt;">Binod Karki, Chief Executive Officer (CEO) of the company says that the visionary dedication of the founder members has brought the company to this point. The company now has its own building to house its head office for about three years now. <br />
	</span></p>
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	<span aldine401="" bt="" color:="" serif="" style="font-size: 9.5pt;"><br />
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	<span aldine401="" bt="" color:="" serif="" style="font-size: 9.5pt;">Today the company has expanded to two branches and multiplied its capital thrice from Rs 50 million to Rs 150 million, notes Karki who joined the company as the third CEO recently. Now the company is planning to increase its capital to Rs 200 million by 2013 (2070 BS) as required by the central bank. The promoters own 61 percent in the company withy the rest 39 per cent held by the general people. <br />
	</span></p>
<p class="MsoNormal" style="margin-bottom: 0.0001pt; text-align: justify; text-indent: 14.15pt; line-height: 11pt; vertical-align: middle;">
	<span aldine401="" bt="" color:="" serif="" style="font-size: 9.5pt;"><br />
	</span></p>
<p class="MsoNormal" style="margin-bottom: 0.0001pt; text-align: justify; text-indent: 14.15pt; line-height: 11pt; vertical-align: middle;">
	<span aldine401="" bt="" color:="" serif="" style="font-size: 9.5pt;">To increase the capital, the company is distributing bonus shares. Last year the company provided 20 per cent bonus share and this year it is giving 15 per cent bonus share. Karki says that the company might also need to issue rights share in the coming days to meet the target of the capital increment. <br />
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<p class="MsoNormal" style="margin-bottom: 0.0001pt; text-align: justify; text-indent: 14.15pt; line-height: 11pt; vertical-align: middle;">
	<span aldine401="" bt="" color:="" serif="" style="font-size: 9.5pt;"><br />
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<p class="MsoNormal" style="margin-bottom: 0.0001pt; text-align: justify; text-indent: 14.15pt; line-height: 11pt; vertical-align: middle;">
	<span aldine401="" bt="" color:="" serif="" style="font-size: 9.5pt;">The company has made an operating profit of Rs 47.12 million in the first quarter of the current fiscal year while it was Rs 52.04 million in the same period last year. <br />
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	<span aldine401="" bt="" color:="" serif="" style="font-size: 9.5pt;"><br />
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<p class="MsoNormal" style="margin-bottom: 0.0001pt; text-align: justify; text-indent: 14.15pt; line-height: 11pt; vertical-align: middle;">
	<span aldine401="" bt="" color:="" serif="" style="font-size: 9.5pt;">Last year the company had opened a branch in Narayanghat of Chitwan and the branch expansion continued this year with the New Road facility opened. But that is not sufficient for competition in the market that has so many players â€“ commercial banks, development banks, finance companies and saving-credit cooperatives. However, Karki is confident of his companyâ€™s competitiveness.<span style="">&nbsp; </span>Karki says, â€œWe find ourselves ahead based on the asset and loan quality when compared to other companies.â€ <br />
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	<b><span style="font-size: 12.5pt; letter-spacing: 0.2pt;">T</span></b><span style="letter-spacing: 0.2pt;">he Extravagant inauguration of Nepal Tourism Year (NTY)- 2011 on 14th January marked the beginning of a yearlong campaign aimed at attracting one million international tourists to Nepal. A well orchestrated mega event was surely a source of new hope for the Nepalis w<input type="hidden" />ho for years were devoid of any optimistic gesture from our sullen political leadership. <br />
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	<span style="letter-spacing: 0.2pt;">But NTY is not politics, it is the pure business. This is the fact which our politicians put on the backburner once again. Millions of rupees were spent to choreograph the parades, paragliders and political speeches at the Dashrath Stadium of Kathmandu. But the link between the event held in the capital and sublime purpose of attracting one million&nbsp; tourist was apparently missing, to say the least. According to the sources in Ministry of Tourism and Civil Aviation, the inauguration ceremony alone cost about Rs 25 million to the state exchequer. But no one involved in the feast is probably able to establish how&nbsp; a single Nepal bound international tourist would be influenced by this event. <br />
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	<b><span style="font-size: 12.5pt; letter-spacing: 0.2pt;"><img alt="from the editor" border="1" height="221" hspace="10" src="http://www.newbusinessage.com/ckfinder/userfiles/Images/nty.jpg" style="width: 267px; height: 221px;margin:10px;padding:10px;" vspace="10" width="267" /></span></b></p>
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	<span style="letter-spacing: 0.2pt;">Instead, had the visionaries of NTY&nbsp; 2011 spent the amount&nbsp; Rs one million each for 25 potentially tourist originating countries for example for international promotion of Nepal as the most fascinating destination, the impact would have been certainly more productive. The flaw could be dismissed as all the public sector decisions are like that. But here, our private sector leaders are boasting to be the managers of the entire activities; in that case, it is also the failure of the private sector. <br />
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	<span style="letter-spacing: 0.2pt;">Not only the inauguration ceremony of NY&nbsp; 2011 was marred by Nepal's inward looking flaws, the campaign and promotion planning for the entire event appears ad-hoc. Hiccups like the government's failure to release the budget it committed were already there. But in more serious note, the steering committee did not bother to mobilise diplomatic channels to promote NTY. The greatest testimony to it was, the USA issued adverse travel advisory to its citizens not to visit Nepal, on the very eve of the inauguration. <br />
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	<span style="letter-spacing: 0.2pt;">The complaints of the sector like sports on their exclusion is also valid, as claimed, they could have developed products of sports and other sector tourism. Regardless of anything that went right or wrong, the NTY has already begun. Therefore, the remaining period of time and resources must be used purposefully, unlike the way it was done for the inauguration.</span></p>',
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	<span style="font-size:12px;"><i><span color:="" lucida="" style="line-height: 120%;"><img alt="" border="4" hspace="3" src="http://www.newbusinessage.com/ckfinder/userfiles/Images/no.jpg" style="width: 129px; height: 155px;" vspace="2" /></span></i></span></p>
<p class="MsoNormal">
	<span style="font-size: 12px;"><i><span color:="" lucida="" style="line-height: 120%;">By Madan Lamsal</span></i></span></p>
<p class="MsoNormal">
	 </p>
<p class="MsoNormal">
	<span style="line-height: 115%;"><br />
	</span></p>
<p class="BODYTEXT" style="text-indent: 0in;">
	<span style="font-size: 12px;"><span class="MyriadPro"><b><span aldine401="">T</span></b></span><span class="MyriadPro"><span aldine401="">hese days, there is a lot of news about revenue officers running behind some prominent Nepali business people. The charge on the poor business people was simple: they produced some fake VAT bills. This was indeed an unbelievable revelation as Nepali businesses selectively employ many Chartered Accountants, lawyers, tax experts and also, former bureaucrats.&nbsp; Why were all these trained hands supporting the private businesses not able to protect the firms from the clutches of the tax officers ? <br />
	</span></span></span></p>
<p class="BODYTEXT" style="text-indent: 0in;">
	 </p>
<p class="BODYTEXT">
	<span style="font-size: 12px;"><span class="MyriadPro"><span aldine401="">Economists sometimes argue that tax officers, tax accountants and tax lawyers don't perform any kind of productive function for the economy. But these economists are wrong in absolute terms. Let's first take the case of tax officers; they are highly productive. Look at the multi-million rupees bungalow of a revenue clerk at the heart of Kathmandu, who indeed had descended empty-handed from the high hills just a few years ago. And, gauge the pace of his productivity -- out of ten thousand rupees salary a month, he could multiple his income at least twenty fold to become so rich in no time. <br />
	</span></span></span></p>
<p class="BODYTEXT">
	<span style="font-size:12px;"><span class="MyriadPro"><span aldine401=""><br />
	</span></span></span></p>
<p class="BODYTEXT">
	<span style="font-size: 12px;"><span class="MyriadPro"><span aldine401="">Looking at the present determination exuded by some of the bureaucrats in tax administration, sworn to take action with tax evaders, one may find it hard to believe that these public servants work hand-in-glove with the private firms. But the recent episode of vowed action is true exception and is sure to evaporate in a couple of <br />
	</span></span></span></p>
<p class="BODYTEXT">
	<span style="font-size:12px;"><span class="MyriadPro"><span aldine401=""><br />
	</span></span></span></p>
<p class="BODYTEXT" style="text-align: justify;">
	<span style="font-size:12px;"><span class="MyriadPro"><span aldine401=""><img alt="" border="4" hspace="3" src="http://www.newbusinessage.com/ckfinder/userfiles/Images/img.jpg" style="width: 358px; height: 254px;" vspace="3" /></span></span></span></p>
<p class="BODYTEXT">
	<span style="font-size: 12px;"><span class="MyriadPro"><span aldine401="">months, if not days, without anything tangible. But the norm is: bureaucrats help the businesses to increase the profitability, and in turn, businesses reciprocate to enhance the productivity. <br />
	</span></span></span></p>
<p class="BODYTEXT">
	<span style="font-size:12px;"><span class="MyriadPro"><span aldine401=""><br />
	</span></span></span></p>
<p class="BODYTEXT">
	<span style="font-size: 12px;"><span class="MyriadPro"><span aldine401="">What could be the better productivity of CAs or tax accountants than helping their client save the tax money? They may call it tax planning, tax saving or tax avoiding, but in effect they help save money. Who on earth can say that saving is not being productive? It is a public knowledge that the best skill of an accountant lies in maintaining the balance in balance sheets. The more the cash balance, the merrier the client. This process, rather than an isolated incidence, duly recognizes the productive ability of CA and consolidates the productivity potential of the saver. <br />
	</span></span></span></p>
<p class="BODYTEXT">
	<span style="font-size:12px;"><span class="MyriadPro"><span aldine401=""><br />
	</span></span></span></p>
<p class="BODYTEXT">
	<span style="font-size: 12px;"><span class="MyriadPro"><span aldine401="">Because, not paying tax is also being highly productive. Even if you do, the amount is sure to go to the pockets of some politicians who sit in Singhadurbar or Baneswore who just eat-up time quarrelling for a chair, instead of being productive. Instead. look at how our business people could be productive out of saved money by not paying taxes. They could set up industries and production units. They can use it for their marriages, perhaps more than one, and increase their productivity. Even their luxury trips help promote value tourism that may include a number of heavenly pleasures, which in essence has to be reproduced or replenished by the tourism industry. <br />
	</span></span></span></p>
<p class="BODYTEXT">
	<span style="font-size:12px;"><span class="MyriadPro"><span aldine401=""><br />
	</span></span></span></p>
<p class="BODYTEXT">
	<span style="font-size: 12px;"><span class="MyriadPro"><span aldine401="">The tax lawyers are even more productive. These are the people who can swing the double-edged swords. They can produce the documents that are helpful for the businesses to evade the taxes at the first place and defend even indefensible if caught by the authorities. Simultaneously, they may be able to provide information to different departments or organizations like Inland Revenue Department, Flying Squad, CIAA, Revenue Tribunal etc, at least for 15 per cent legal commission.</span></span></span></p>
<p class="BODYTEXT">
	<span style="font-size:12px;"><span class="MyriadPro"><span aldine401=""><br />
	</span></span></span></p>
<p class="MsoNormal">
	<span style="font-size: 12px;"><span class="MyriadPro"><span aldine401="" letter-spacing:="">All these analogies must be enough to firmly establish that not to pay tax is being more productive than paying it. Then why not abolish the tax system altogether ? <br />
	</span></span></span></p>
<p class="MsoNormal">
	 </p>
<p class="MsoNormal">
	<span style="font-size:12px;"><span class="MyriadPro"><span aldine401="" letter-spacing:=""><br />
	</span></span></span></p>',
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		'Article' => array(
			'id' => '208',
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			'title' => 'Building For The Country',
			'sub_title' => '',
			'summary' => null,
			'content' => '<p class="BREAKER" style="text-indent: 14.15pt;">
	<span style="font-size:12px;"><span style="font-size: 12px;"><span class="MyriadPro"><span franklin="" gothic="" medium="" sans-serif="">Even as a school boy, Raju Babu Shrestha had pictured that being the eldest son, he will be helping out his father and someday would fill his formidable shoes. <br />
	<br />
	</span></span></span></span></p>
<p class="MsoNormal">
	 </p>
<p class="MsoNormal">
	<span style="font-size:12px;"><span class="MyriadPro"><i><img align="left" alt="personality" border="1" height="299" hspace="5" src="http://www.newbusinessage.com/ckfinder/userfiles/Images/rajubaabu shrestha.jpg" style="width: 247px; height: 299px;margin:10px;padding:10px;" vspace="5" width="247" /></i></span></span></p>
<p class="MsoNormal">
	<span style="font-size: 12px;"><span class="MyriadPro"><i><br />
	</i></span></span></p>
<p class="MsoNormal">
	<span style="font-size: 12px;"><span class="MyriadPro"><i>By Pinaki Roy</i></span><span style="line-height: 115%;"> <br />
	</span></span></p>
<p class="nbasubhead2">
	<span style="font-size:12px;"><span bright="" lucida="" serif="" style="line-height: 120%;">Raju Babu Shrestha</span></span></p>
<p class="nbasubhead2">
	<span style="font-size:12px;"><i><span bright="" lucida="" serif="" style="line-height: 120%;">Director</span></i></span></p>
<p class="MsoNormal">
	<span style="font-size:12px;"><i><span bright="" lucida="" serif="" style="line-height: 115%;">Chitawon Co-E Nepal (P) Ltd <br />
	</span></i></span></p>
<p class="MsoNormal" style="margin-bottom: 0.0001pt; vertical-align: middle;">
	<span style="font-size: 12px;"><b><span aldine401="" bt="" color:="" serif=""><br />
	</span></b></span></p>
<p class="MsoNormal" style="margin-bottom: 0.0001pt; vertical-align: middle;">
	<span style="font-size: 12px;"><b><span aldine401="" bt="" color:="" serif="">H</span></b><span aldine401="" bt="" color:="" serif="">ailing from a business family, life was not exactly a bed of roses for Raju Babu Shrestha till as they say, lady luck smiled on him. Despite working very hard and giving it all he had, the period from 1982-1988 was a difficult one for him and his family business, Chitawon Construction &amp; Engineering Company Nepal (P) Ltd also known as Chitawon Co-E Nepal (P) Ltd. However, his marriage in 1988 changed his fortunes and there was no looking back ever since, says Shrestha. If someone told me that getting married will bring me luck, I would have married earlier, he adds tongue-in-cheek.&nbsp;</span></span></p>
<p class="MsoNormal" style="margin-bottom: 0.0001pt; vertical-align: middle;">
	<span style="font-size:12px;"><span aldine401="" bt="" color:="" serif=""><br />
	</span></span></p>
<p class="MsoNormal" style="margin-bottom: 0.0001pt; text-indent: 14.15pt; vertical-align: middle;">
	<span style="font-size: 12px;"><span aldine401="" bt="" color:="" serif="">Business runs in Shrestha's blood, his forefathers were from Gorkha and dealt in trading activities. But his father Laxman Babu Shrestha had different ideas in mind. And so, Chitawon Co-E Nepal (P) Ltd was registered as a proprietorship concern in 1966. Later, having proven its performance in various construction projects with excellent results, the company was promoted to class A Contractor in 1978. The Flagship Company has come a long way and today boasts of an impressive portfolio of companies including Manakamana Darshan (P) Ltd, Sagarmatha Power Company (P) Ltd, Nepal Ropeway Systems (P) Ltd, and Chitawon Milk (P) Ltd. Shrestha holds the position of Director in all these companies. <br />
	</span></span></p>
<p class="MsoNormal" style="margin-bottom: 0.0001pt; text-indent: 14.15pt; vertical-align: middle;">
	<span style="font-size:12px;"><span aldine401="" bt="" color:="" serif=""><br />
	</span></span></p>
<p class="MsoNormal" style="margin-bottom: 0.0001pt; text-indent: 14.15pt; vertical-align: middle;">
	<span style="font-size: 12px;"><span aldine401="" bt="" color:="" serif="">He fondly remembers his early days in Chitwan when though life was difficult due to lack of transportation; he still enjoyed his bicycle rides in the forested terrain. While in middle school, he would accompany his father and visit various construction sites for irrigation canals, roads, and dams. That was the seed period as Shrestha precisely knew what he wanted to do in life when he was grown up enough. He could envisage that he will be helping out his father being the eldest son and someday would fill his formidable shoes.&nbsp;</span></span></p>
<p class="MsoNormal" style="margin-bottom: 0.0001pt; text-indent: 14.15pt; vertical-align: middle;">
	<span style="font-size:12px;"><span aldine401="" bt="" color:="" serif=""><br />
	</span></span></p>
<p class="MsoNormal" style="margin-bottom: 0.0001pt; text-indent: 14.15pt; vertical-align: middle;">
	<span style="font-size: 12px;"><span aldine401="" bt="" color:="" serif="">Shrestha came back to his birthplace Kathmandu to pursue High School as a boarder at Ananda Kuti Vidyapith. After graduating from High School, he wanted to study engineering but sacrificed his dream to help his father. Instead, he enrolled for a Bachelor of Science programme in Mathematics at Amrit Science Campus that would allow him more time for business. He started work while in college and gained hands-on experience which would come in handy for his future course in life. Bijayapur Irrigation Project in Pokhara was the first project I handled independently, he proudly states. A firm believer in making a contribution to the country's development, he has been instrumental in diversifying, mechanising and developing the family business.&nbsp;</span></span></p>
<p class="MsoNormal" style="margin-bottom: 0.0001pt; text-indent: 14.15pt; vertical-align: middle;">
	<span style="font-size:12px;"><span aldine401="" bt="" color:="" serif=""><br />
	</span></span></p>
<p class="MsoNormal" style="margin-bottom: 0.0001pt; text-indent: 14.15pt; vertical-align: middle;">
	<span style="font-size: 12px;"><span aldine401="" bt="" color:="" serif="">As a young boy, Shrestha was a tad shy when it came to making acquaintance with girls but never felt that he must have a girlfriend. Times have changed,he sighs. Always having led an orthodox and simple life, his was an arranged marriage. Proud of having fathered three beautiful daughters, he says he doesn't miss having a son, Today, the world has moved on. It's no longer considered a disadvantage not to have a son for an heir. He is confident that all his daughters will make him proud as they grow up. Like father, like daughter his eldest daughter is already on the right path, pursuing her Bachelor in Business Administration degree from Webster University. She is already taking an interest in business matters and shows signs of promise to hold </span></span><span style="font-size: 12px;"><span>the fort when the time comes. </span></span></p>
<p class="MsoNormal" style="margin-bottom: 0.0001pt; text-align: justify; text-indent: 14.15pt; vertical-align: middle;">
	<span style="font-size:12px;"><span aldine401="" bt="" color:="" serif=""><img align="left" alt="persoanlity" border="1" height="522" hspace="5" src="http://www.newbusinessage.com/ckfinder/userfiles/Images/Raju Babu Shrestha1.jpg" style="width: 364px; height: 522px;margin:10px;padding:10px;" vspace="5" width="364" /></span></span></p>
<p class="MsoNormal" style="margin-bottom: 0.0001pt; text-indent: 14.15pt; vertical-align: middle;">
	<span style="font-size: 12px;"><span aldine401="" bt="" color:="" serif=""><br />
	</span></span></p>
<p class="MsoNormal" style="margin-bottom: 0.0001pt; text-indent: 14.15pt; vertical-align: middle;">
	<span style="font-size: 12px;"><span aldine401="" bt="" color:="" serif="">Shrestha does not believe in showing off and hence lives an austere lifestyle. Glamour is not his forte. You will seldom see him wearing expensive suits unless he is attending a business conference or a formal occasion. He is clad in casual wear (read Jeans, T-Shirts, Working boots, Jackets) most of the time as his work involves field (on site) work. He is most comfortable when he is among friends or at an informal gathering as he doesn't have to worry too much about what he is wearing. Shrestha likes to call himself old-fashioned. A family man to the core, he draws inspiration from his wife, She always gives me positive vibes. Whenever he is short on motivation, he looks up to his father from whom he learnt the tricks of the trade. He has always been my role model, he says.&nbsp;</span></span></p>
<p class="MsoNormal" style="margin-bottom: 0.0001pt; text-indent: 14.15pt; vertical-align: middle;">
	<span style="font-size:12px;"><span aldine401="" bt="" color:="" serif=""><br />
	</span></span></p>
<p class="MsoNormal" style="margin-bottom: 0.0001pt; text-indent: 14.15pt; vertical-align: middle;">
	<span style="font-size: 12px;"><span aldine401="" bt="" color:="" serif="">Despite a busy schedule, Shrestha manages to find time to travel within Nepal as well as abroad. Whenever time permits, he sets along to tour a new destination, either with friends or family, in search of nature and adventure. He has already visited 50 districts in Nepal for work or purely on vacation. He has toured a host of foreign countries for business as well as leisure&nbsp; United Kingdom, Japan, Germany, China, Austria, Italy, and Korea to name a few. His favourite cuisines include Korean, Japanese, and Chinese&nbsp; he is only too happy that his favourite cuisines are available in some Kathmandu restaurants as well. Shrestha loves to cook as it helps him de-stress, keep healthy and relax. The best part is that my family loves my cooking too which makes me feel good, he chuckles. <br />
	</span></span></p>
<p class="MsoNormal" style="margin-bottom: 0.0001pt; text-indent: 14.15pt; vertical-align: middle;">
	<span style="font-size:12px;"><span aldine401="" bt="" color:="" serif=""><br />
	</span></span></p>
<p class="MsoNormal" style="margin-bottom: 0.0001pt; text-indent: 14.15pt; vertical-align: middle;">
	<span style="font-size: 12px;"><span aldine401="" bt="" color:="" serif="">You wonder if having achieved so much has made him complacent. On the contrary, Shrestha says that his job is far from finished. â€œI agree that when I think of my early days, I do feel I have achieved a great deal and am satisfied about the whole thing but it has also increased my obligations and responsibilities. To maintain the heights that we have reached is the current challenge, he explains. Shrestha says that wealth creation is not his sole objective. He has everything that a man can want in terms of material needs. He hopes that whatever he does, it should benefit the people of the country. <br />
	</span></span></p>
<p class="MsoNormal" style="margin-bottom: 0.0001pt; text-indent: 14.15pt; vertical-align: middle;">
	<span style="font-size:12px;"><span aldine401="" bt="" color:="" serif=""><br />
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	<span style="font-size: 12px;"><span aldine401="" bt="" color:="" letter-spacing:="" serif="">Not the one to rest on his past laurels, Shrestha has several projects up his sleeve. Expanding Cable Car services is one. After the highly successful Manakamana Cable Car that connects Kurintar in Chitwan with Manakamana in Gorkha, there are at least two similar projects in feasibility study phase presently. He is optimistic that the proposed Cable Car projects in Pokhara and Kalinchok (Dolakha), when completed, will facilitate tourism development in the respective areas. He also plans to set up an agricultural machinery and tools enterprise which will import to begin with and get into manufacturing in due course of time.&nbsp; Chitawon Milk is another project that's close to his heart. The company produces skimmed milk powder, baby food, yogurt, butter, and ghee etc. He is hopeful that it will uplift professional cow farming and encourage milk farmers to produce more. This will benefit the economic condition of the farmers as well as the national economy.</span></span></p>
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	<span style="font-size: 12px;"><span aldine401="" bt="" color:="" letter-spacing:="" serif="" style="line-height: 115%;">As if he was not finished yet, Shrestha revealed another aspect of his personality&nbsp; he is an Art Lover. He visits art exhibitions when he can and likes to collect Nepali art. He especially likes buying natural material and even designs them with help from his artist friend Shyam Lal Shrestha. When you step into his living room, you'll find it to be a work-of-art, literally. The ceiling has many blocks of Newari art, each of them symbolising a different meaning. Shrestha says he is very lucky to have a loving family as family binding is most important&nbsp; it helps him remain grounded. <br />
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	<span style="font-size:12px;"><em><span style="color: rgb(0, 0, 0);"><strong><span class="MyriadPro"><span style="line-height: 120%;">''Software Industry in Nepal is Much Bigger than &nbsp;We Think It is''</span></span></strong></span></em></span></p>
<p class="NoParagraphStyle" style="margin-bottom: 5.65pt;">
	<span style="font-size:12px;"><br />
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<p class="questionsforinterview">
	<span style="font-size:12px;"><em><span style="color: rgb(0, 0, 0);"><span class="MyriadPro"><span bt="" frnkgothitc="" hv="" lang="EN-GB" sans-serif=""><img align="left" alt="sanjib" border="1" height="167" hspace="5" src="http://www.newbusinessage.com/ckfinder/userfiles/Images/Sanjib Raj Bhandari1.jpg" style="width: 205px; height: 167px;margin:10px;padding:10px;" vspace="5" width="205" /></span></span></span></em></span></p>
<p class="questionsforinterview" style="text-align: justify;">
	<span style="font-size:12px;"><em><span style="color: rgb(0, 0, 0);"><span class="MyriadPro"><span bt="" frnkgothitc="" hv="" lang="EN-GB" sans-serif="">Sanjib Raj Bhandari</span><span lang="EN-GB"> is the CEO of Mercantile Office Systems, the pioneer company in Nepal's IT sector. Having seen the evolution of sorts in IT in the past two decades, Raj Bhandari himself has effected a sea-change in his business, priorities and processes. At the beginning, his company was a computer distributer in the mid-1980s, became an internet service provider in 1990s, produced own brands of computers in the beginning of 2000, and now in 2011, Mercantile is chiefly a software producing company. Mercantile-produced software are extensively used in Nepal, especially in the banking sector. Raj Bhandari foresees Nepal's great future in IT, as well as expresses concern that we are among the â€œbottom fewâ€ in the global IT map. He says Nepal also lags in South Asia behind India, Pakistan, Sri Lanka and Bangladesh. Excerpts:&nbsp;&nbsp; </span><span lang="EN-GB" style="letter-spacing: -0.1pt;"><br />
	</span></span></span></em></span></p>
<p class="ANSWER" style="text-align: justify;">
	<span style="font-size:12px;"><span style="color: rgb(0, 0, 0);"><strong><span class="MyriadPro"><span lang="EN-GB" style="letter-spacing: -0.1pt;">Your company Mercantile has been considered one of the pioneers in Nepal's IT sector. How do you view the growth of the sector over the period of last two decades?</span></span></strong></span></span></p>
<p class="ANSWER" style="text-align: justify;">
	<span style="font-size:12px;"><span style="color: rgb(0, 0, 0);"><span class="MyriadPro"><span lang="EN-GB" style="letter-spacing: -0.1pt;">The growth has been tremendous over this period. If you look at the very beginning in the early 1990, we had a problem not only with the fact that we were all very new to IT sector, but there were no government policies specially addressing this sector. Computers and its parts were considered luxury items thumbing that the ordinary people do not need them. That psyche was reflected in the government policies. We had a lot of difficulties in doing business not only of hardware but also the software. The policies vis-Ã&nbsp;-vis IT sector were very unfriendly. <br />
	</span></span></span></span></p>
<p class="ANSWER" style="text-align: justify;">
	<span style="font-size:12px;"><span style="color: rgb(0, 0, 0);"><span class="MyriadPro"><span lang="EN-GB" style="letter-spacing: -0.1pt;">We've come a very-very long way. Today the overall policies are very positive. This transformation has helped both the hardware and software industries to grow. There's been a sea of change not only in the IT development but also on how the government and the people at large perceive the IT now.&nbsp; <br />
	</span></span></span></span></p>
<p class="questionsforinterview" style="text-align: justify;">
	<span style="font-size:12px;"><span style="color: rgb(0, 0, 0);"><span class="MyriadPro"><span lang="EN-GB" style="letter-spacing: -0.1pt;">Could you please elaborate on how Mercantile managed to grow to become the market leader as it is now?</span></span></span></span></p>
<p class="ANSWER" style="text-align: justify;">
	<span style="font-size:12px;"><span style="color: rgb(0, 0, 0);"><span class="MyriadPro"><span lang="EN-GB" style="letter-spacing: -0.1pt;">I run a number of IT companies, of which I run two flagship companies from this building (see picture). The first one is Mercantile Office Systems (MOS), which we started in 1985. It concentrated mainly on distribution of computer and IT related products and software development. We started internet business including email under the MOS in 1992-93. The second one is Mercantile Communications which we started in 1995. We did not know too much when we started internet service under the MOS. It was very much exploring and doing things as you go along. We did not have much technical know-how. Internet was completely new. When we started email service in December 1993, email was not available for the public in India. When we started the internet in 1995, commercial internet had just begun in Singapore. It would not begin in India for another 3 or 4 years. So it was very-very new, we would not know what we were doing, we learnt as we went along, we sought help from a lot of people from outside. Today you can go and hire engineers. In those days, we did not find engineers. We had to actually train our own engineers.&nbsp;&nbsp;&nbsp; <strong><br />
	</strong></span></span></span></span></p>
<p class="questionsforinterview" style="text-align: justify;">
	<span style="font-size:12px;"><strong><span style="color: rgb(0, 0, 0);"><span class="MyriadPro"><span lang="EN-GB" style="letter-spacing: -0.1pt;">You have been selling your own Mercantile brand of computers and office systems. Do you see any need to bring changes in your products or services? </span></span></span></strong></span></p>
<p class="ANSWER" style="text-align: justify;">
	<span style="font-size:12px;"><span style="color: rgb(0, 0, 0);"><span class="MyriadPro"><span lang="EN-GB" style="letter-spacing: -0.1pt;">We have been distributing computers since 1985. In the beginning of 2000, we experimented with our own products. We were very successful for two years, but later we could not compete with the international products. The reason was that we needed to be 25 per cent cheaper than the international products and the other products available. In the beginning, we could maintain the difference but later we could not. So, we slowly phased the production out. We don't have the products now. <br />
	</span></span></span></span></p>
<p class="questionsforinterview">
	<span style="font-size:12px;"><strong><span style="color: rgb(0, 0, 0);"><span class="MyriadPro"><span lang="EN-GB" style="letter-spacing: -0.1pt;">Your company software are extensively used by Nepali companies. What distinguishes your products and services from the others?</span></span></span></strong></span></p>
<p class="ANSWER" style="text-align: justify;">
	<span style="font-size:12px;"><span style="color: rgb(0, 0, 0);"><span class="MyriadPro"><span lang="EN-GB" style="letter-spacing: -0.1pt;">I think it is the quality. We have from the very beginning emphasised on quality and we have always maintained ourselves and concentrated on niche market. We have seldom gone for mass market. Most of our services are in the gear to corporates. Some of our products like computer notebooks and communication software are now available for mass marketing. Our services like technical, banking and software services have always been very selective. That's how we actually maintain our profile. <br />
	</span></span></span></span></p>
<p class="questionsforinterview" style="text-align: justify;">
	<span style="font-size:12px;"><strong><span style="color: rgb(0, 0, 0);"><span class="MyriadPro"><span lang="EN-GB" style="letter-spacing: -0.1pt;">Could you tell us where does Nepal stand in the global IT map and what position Nepal has in South Asia? What are the hindrances as well as prospects for the growth of this sector?</span></span></span></strong></span></p>
<p class="ANSWER" style="text-align: justify;">
	<span style="font-size:12px;"><span style="color: rgb(0, 0, 0);"><span class="MyriadPro"><span lang="EN-GB" style="letter-spacing: -0.1pt;">If there were a global IT map, we would find ourselves in the bottom few. I often say that our proximity with India is only in relation to geography. Our proximity with India is not in development scale, manufacturing and specially IT. In South Asia, India is way-way up, then would come Pakistan or Sri Lanka not necessarily in the order, and we would be close behind Bangladesh but it does not mean too much, as we still have a lot of run to cover.&nbsp;&nbsp;&nbsp; <br />
	</span></span></span></span></p>
<p class="ANSWER" style="text-align: justify;">
	<span style="font-size:12px;"><span style="color: rgb(0, 0, 0);"><span class="MyriadPro"><span lang="EN-GB" style="letter-spacing: -0.1pt;">Nonetheless, the software industry in Nepal is much bigger than we think it is. We do not have proper statistics. But my guess is that there are over 5,000 people working in the software industry of Nepal. There are maybe 40 to 50 companies that have employed some 30 to 40 people each. There could be as many as 10 companies with over 100 people in each. Many of these companies are involved in software exports. Their figures do not reflect national figures because many of them do not want to come out in the open as it would create far too big problems for them. And, as their customer base is abroad and as they do not need a formal registration in Nepal, they choose not to be in the legal hassles here. This is something the government really needs to address. &nbsp;&nbsp;&nbsp; </span></span></span></span></p>
<p class="ANSWER" style="text-align: justify;">
	<span style="font-size:12px;"><span style="color: rgb(0, 0, 0);"><span class="MyriadPro"><span lang="EN-GB" style="letter-spacing: -0.1pt;">There are a lot of capabilities within the country to develop software. If you look at the hardware sales, the value addition, in terms services, distribution and warranty the Nepali companies provide, is between 2 to 8 per cent. If you look at the software, the value addition is over 90 per cent. There are some 7-8 companies that are exporting services to where the potential lies.&nbsp;&nbsp; <br />
	</span></span></span></span></p>
<p class="questionsforinterview">
	<span style="font-size:12px;"><strong><span style="color: rgb(0, 0, 0);"><span class="MyriadPro"><span lang="EN-GB" style="letter-spacing: -0.1pt;">How are the government policies impacting on the growth of this sector? </span></span></span></strong></span></p>
<p class="ANSWER" style="text-align: justify;">
	<span style="font-size:12px;"><span style="color: rgb(0, 0, 0);"><span class="MyriadPro"><span lang="EN-GB" style="letter-spacing: -0.1pt;">The government role is obviously very-very important here. But, the software industry does not need, does not look for government leadership and does not make their plans and projects relying or looking at the government action. The private sector must lead. If the government can catch up the pace, it's fine. Otherwise, the growth will find its own path. A great example is the trekking business. When the trekking agencies started in the 1970s, they organised themselves without government aid. Later on, the government came in to issue the licenses to them. The government has policies and has made policies in the past too. But execution has been the problem in Nepal. Emphasis really has to be on execution, not so much on formulating and announcing the policies. <br />
	</span></span></span></span></p>
<p class="questionsforinterview" style="text-align: justify;">
	<span style="font-size:12px;"><strong><span style="color: rgb(0, 0, 0);"><span class="MyriadPro"><span lang="EN-GB" style="letter-spacing: -0.1pt;">Do you see any possibility of government and private sector working together for the development of IT sector?</span></span></span></strong></span></p>
<p class="ANSWER" style="text-align: justify;">
	<span style="font-size:12px;"><span style="color: rgb(0, 0, 0);"><span class="MyriadPro"><span lang="EN-GB" style="letter-spacing: -0.1pt;">Traditionally, we think that the partnership between the government and private sector is fruitful. But, what we have discovered is that the government has very soft corner for IT sector, but still the cooperation has not yielded true fruits. This is not only the fault of the government. I feel the private sector too has not played its part. When you demand so many things from the government, you make your business compatible to the policies and accountable to the country. If you look at any industrial development in Nepal, it has always been private sector led. So the progress has to be made by private sector. If the government assists, it is welcome; if it doesnâ€™t, it need not be bothered.</span> <br />
	</span></span></span></p>
<p class="ANSWER" style="text-align: justify;">
	<span style="font-size:12px;"><span style="color: rgb(0, 0, 0);"><span class="MyriadPro"><span lang="EN-GB" style="letter-spacing: -0.1pt;">As I previously mentioned, the initiatives has been taken by the private sector. However, if the government and the private sector were to cooperate, the government could obviously help with better and improved policies. The government could also help by buying software and looking for solutions, let's say in electricity or telecom companies. This encourages Nepali IT companies to take part. But right now, the terms, conditions and perks in international standards that the government boasts are rather punitive to Nepali companies. I repeat they are not only discriminatory but also punitive. Those companies put such conditions which Nepali companies simply cannot meet. Or, if they can be met, they could be agents only. This is very humiliating. It is fine if the government entertains the business from international companies in the area where Nepali IT companies cannot compete. But the Nepali government is disqualifying the Nepali companies for many other reasons. To correct this, the government need not do too many things. What it can do is to just encourage, invite and qualify Nepali companies to take part in business bidding to provide service for Nepal government and institutions. There could be many areas like e-commerce, trade, billing boards for telecom and other government bodies â€“ where the Nepali companies too can perform well, given little amendment in service procurement mechanism. Therefore, for now it would be enough to revoke the punitive and discriminatory policies on the part of the government; let alone making fancy policies. <br />
	</span></span></span></span></p>
<p class="questionsforinterview" style="text-align: justify;">
	<span style="font-size:12px;"><strong><span style="color: rgb(0, 0, 0);"><span class="MyriadPro"><span lang="EN-GB" style="letter-spacing: -0.1pt;">The Computer Association of Nepal (CAN) and ICT Association of Nepal are holding Info Tech Fairs every year. How do you evaluate the role of these fairs in promoting IT business in the country?</span></span></span></strong></span></p>
<p class="ANSWER" style="text-align: justify;">
	<span style="font-size:12px;"><span style="color: rgb(0, 0, 0);"><span class="MyriadPro"><span lang="EN-GB" style="letter-spacing: -0.1pt;">The CAN and ICT info-tech fair attracts hundreds of thousands of visitors every year. Obviously it plays the central role in awareness, as it educates the public at large. However, it is almost like the flagship event for CAN and ICT. It is important for these organisations to focus and involve in other large events of info-tech. Right now they are perceived as single event institutions. They need to move out of that.&nbsp;&nbsp; <br />
	</span></span></span></span></p>
<p class="questionsforinterview" style="text-align: justify;">
	<span style="font-size:12px;"><strong><span style="color: rgb(0, 0, 0);"><span class="MyriadPro"><span lang="EN-GB">There are some unused infrastructures on IT, one of them being the IT Park in Banepa, Kavre. Why do you think such utilities are almost defunct? </span></span></span></strong></span></p>
<p class="ANSWER" style="text-align: justify;">
	<span style="font-size:12px;"><span style="color: rgb(0, 0, 0);"><span class="MyriadPro"><span lang="EN-GB" style="letter-spacing: -0.1pt;">In 1992, a high level commission was set up to look at the development of IT and the benefits of IT Park. Ten years down the line, many things have changed, in particular the communication technologies. The IT Park is yet to embrace the changes. That could be the major reason for it being a mess.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; <br />
	</span></span></span></span></p>
<p class="questionsforinterview" style="text-align: justify;">
	<span style="font-size:12px;"><strong><span style="color: rgb(0, 0, 0);"><span class="MyriadPro"><span lang="EN-GB">Still, don't you think there is a digital divide prevalent in the country? How do you think such divide can be narrowed down? </span></span></span></strong></span></p>
<p class="ANSWER" style="text-align: justify;">
	<span style="font-size:12px;"><span style="color: rgb(0, 0, 0);"><span class="MyriadPro"><span lang="EN-GB" style="letter-spacing: -0.1pt;">Digital divide is alarming. Only one or two per cent of Nepali people have access to internet and IT in general. Increasing the access of people to IT and telecommunications can lower the digital divide as both these sectors are complimentary and intertwined. The number of people having access to IT and telecommunications is increasing. I'm happy with that and hopeful too.&nbsp;&nbsp; <br />
	</span></span></span></span></p>
<p class="questionsforinterview" style="text-align: justify;">
	<span style="font-size:12px;"><strong><span style="color: rgb(0, 0, 0);"><span class="MyriadPro"><span lang="EN-GB">As a matter of fact, your company operates an online media too. How much do think it has contributed to the growth of online media in Nepal? How economically feasible is it?</span></span></span></strong></span></p>
<p class="ANSWER" style="text-align: justify;">
	<span style="font-size:12px;"><span style="color: rgb(0, 0, 0);"><span class="MyriadPro"><span lang="EN-GB" style="letter-spacing: -0.1pt;">When we established a news portal in 1999, it was definitely not sustainable for the next 5-6 years. But today for the last 3 or 4 years, the portal has been doing fine economically too. We have hired almost 20 people. The portal pays for itself and is also making money. Online media came with more people having access to communication, computer and education. To have access to online media, one must have computer device, must have access to communication and must be educated. In developed markets, the online media has overshadowed the traditional media. I am still doubtful that will happen in Nepal in the foreseeable future. <br />
	</span></span></span></span></p>
<p class="questionsforinterview">
	<span style="font-size:12px;"><strong><span style="color: rgb(0, 0, 0);"><span class="MyriadPro"><span lang="EN-GB" style="letter-spacing: -0.1pt;">Every successful company stores plans for future as well. What about yours? </span></span></span></strong></span></p>
<p class="ANSWER" style="text-align: justify;">
	<span style="font-size:12px;"><span style="color: rgb(0, 0, 0);"><span class="MyriadPro"><span lang="EN-GB" style="letter-spacing: -0.1pt;">We will obviously expand on our communication network. We will expand our institutional network to cover entire country now. In banking software, we expect to grow at least 100 per cent on year basis. We are also looking on international market and we are very hopeful. As of now, over 50 per cent of the banks, over 70 per cent of the development banks and 90 per cent of the finance companies use our software. This covers almost 1000 branches in the country's financial system. Even if you say each branch in average uses this software 20 to 30 times, some 20 to 30 thousand use our software daily.&nbsp;&nbsp;&nbsp;&nbsp; <br />
	</span></span></span></span></p>
<p class="questionsforinterview">
	<span style="font-size:12px;"><strong><span style="color: rgb(0, 0, 0);"><span class="MyriadPro"><span lang="EN-GB" style="letter-spacing: -0.1pt;">What could be the way forward?</span></span></span></strong></span></p>
<p class="ANSWER" style="text-align: justify;">
	<span style="font-size:12px;"><span style="color: rgb(0, 0, 0);"><span class="MyriadPro"><span lang="EN-GB" style="letter-spacing: -0.1pt;">With the growth of communication and education and population as well, the IT sector can only grow. I see its great future in Nepal.&nbsp;</span><span style="letter-spacing: -0.1pt;"> </span></span></span></span></p>
<p class="MsoNormal">
	<span style="font-size:12px;"><span style="color: rgb(0, 0, 0);"><span style="line-height: 115%;">&nbsp;</span></span></span></p>',
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			'description' => 'Sanjib Raj Bhandari is the CEO of Mercantile Office Systems, the pioneer company in Nepal's IT sector. Having seen the evolution of sorts in IT in the past two decades, Raj Bhandari himself has effected a sea-change in his business, priorities',
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			'title' => 'Feedback February 2011',
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			'content' => '<p class="MsoNormal" style="margin-bottom: 0.0001pt; line-height: 11pt; vertical-align: middle;">
	<span style="font-size: 12px;"><span style="color: rgb(0, 0, 0);"><span aldine401="" bt="" color:="" serif=""><strong>Going Green With Bicycles</strong><br />
	<br />
	T</span><span aldine401="" bt="" color:="" letter-spacing:="" serif="">here was good news published on January issue of Nubiz about the Laxmi Bank going green. The bank's initiative to encourage staff to ride bicycle to office at least a day in a week is really commendable. That is something every corporate house and company should choose to do. It not only helps make the environment greener but also is a healthy way to reach office.</span></span></span></p>
<p class="MsoNormal" style="margin-bottom: 0.0001pt; line-height: 11pt; vertical-align: middle;">
	<span style="font-size:12px;"><span style="color: rgb(0, 0, 0);"><span aldine401="" bt="" color:="" letter-spacing:="" serif=""><br />
	</span></span></span></p>
<p class="MsoNormal">
	<span style="font-size:12px;"><span style="color: rgb(0, 0, 0);"><span aldine401="" bt="" color:="" letter-spacing:="" serif="">It would be better, if we, the working people, can do it voluntarily rather than imposed by our bosses. Riding a bicycle is the best option over the car or the motorbike. Bicycles also help expand the crowded and squeezed streets like ours. And it also adds some relief to the parking space crisis.</span></span></span></p>
<p class="MsoNormal">
	<span style="font-size:12px;"><span style="color: rgb(0, 0, 0);"><span aldine401="" bt="" color:="" serif="" style="line-height: 115%;">Reading about the green program I am planning to opt for similar way to reach office. And I am surely going to discuss with my colleagues on the greener, healthier and economic way to reach my workstation. But I â'm still not that much sure how much the roads of Kathmandu are suitable for bicycles.</span></span></span></p>
<p class="MsoNormal" style="margin-bottom: 0.0001pt; line-height: 11pt; vertical-align: middle;">
	<span style="font-size:12px;"><span style="color: rgb(0, 0, 0);"><b><span aldine401="" bt="" color:="" serif="">- Binaya Khatiwada</span></b></span></span></p>
<p class="MsoNormal">
	<span style="font-size:12px;"><span style="color: rgb(0, 0, 0);"><b><span aldine401="" bt="" color:="" serif="" style="line-height: 115%;">&nbsp;Kalopul, Kathmandu</span></b></span></span></p>
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	<span style="font-size:12px;"><span style="color: rgb(0, 0, 0);"><b><span aldine401="" bt="" color:="" serif="" style="line-height: 115%;"><br />
	</span></b></span></span></p>
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	<span style="font-size:12px;"><span style="color: rgb(0, 0, 0);"><b><span aldine401="" bt="" color:="" serif="" style="line-height: 115%;">--------------------------------------------------------------------------------------------------<br />
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	<span style="font-size:12px;"><span style="color: rgb(0, 0, 0);"><b><span aldine401="" bt="" color:="" serif="" style="line-height: 115%;"><br />
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<p class="BODYTEXT" style="text-indent: 0in;">
	<span style="font-size: 14px;"><span style="color: rgb(0, 0, 0);"><b><span aldine401="" bt="" color:="" serif="" style="line-height: 115%;">&nbsp;</span></b><span cond="" demi="" franklin="" gothic="" sans-serif="">Corporate Responsibility&nbsp;&nbsp; <br />
	</span></span></span></p>
<p class="BODYTEXT" style="text-indent: 0in;">
	<span style="font-size:14px;"><span style="color: rgb(0, 0, 0);"><span cond="" demi="" franklin="" gothic="" sans-serif="">&nbsp;&nbsp;&nbsp;&nbsp; </span></span></span></p>
<p class="BODYTEXT" style="text-indent: 0in;">
	<span style="font-size:12px;"><span style="color: rgb(0, 0, 0);">'CSR a Useless Concept ?&nbsp; an article by Catrin Froehlich sparked a thought in my mind. The Nepali corporate houses may claim that they are making huge non-profit contributions to the society in the name of corporate social responsibility (CSR). But as Froehlich rightly pointed out, mostly, there are some long term profit motives attached to any CSR initiative. The corporate houses are always looking for a win-win situation. I don't think business houses pour money into anything in the name of CSR without looking for any return. A bank&nbsp; investing&nbsp; in sponsoring educating students in a school is certain that those students in&nbsp; future will open accounts or buy shares of the bank and also work as the agents to encourage others to&nbsp; buy&nbsp; services and products of that bank. Similarly, they foresee a lot of businesses and calculate the return of CSR activities. On the other hand, CSR activities are the publicity stunts, too, to grab the attention of consumers towards the brand names in less cost than the cost of media advertisements.</span></span></p>
<p class="MsoNormal" style="margin-bottom: 0.0001pt; line-height: 11pt; vertical-align: middle;">
	<span style="font-size:12px;"><span style="color: rgb(0, 0, 0);"><b><span aldine401="" bt="" color:="" serif="">- Srijana Shrestha</span></b></span></span></p>
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	<span style="font-size:12px;"><span style="color: rgb(0, 0, 0);"><b><span aldine401="" bt="" color:="" serif="" style="line-height: 115%;">Bhaktapur</span></b></span></span></p>
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	<span style="font-size: 12px;"><span style="color: rgb(0, 0, 0);"><b><span aldine401="" bt="" color:="" serif="" style="line-height: 115%;">&nbsp;</span></b></span></span></p>
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	<span style="font-size:12px;"><span style="color: rgb(0, 0, 0);"><b><span style="line-height: 115%;">--------------------------------------------------------------------------------------------------</span></b></span></span></p>
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	<span style="font-size:12px;"><span style="color: rgb(0, 0, 0);"><b><span style="line-height: 115%;"><br />
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<p class="BODYTEXT" style="text-indent: 0in;">
	<strong><span style="font-size:14px;"><span style="color: rgb(0, 0, 0);"><span cond="" demi="" franklin="" gothic="" sans-serif="">It is HR Solutions</span></span></span></strong></p>
<p class="BODYTEXT" style="text-indent: 0in;">
	<span style="font-size:12px;"><span style="color: rgb(0, 0, 0);">Thank you so much for publishing the HR Kurakani on your reputed magazine.&nbsp; I would like to bring into notice the major mistake in the article i.e. the name of our organization is Real solutions but it has been written in the beginning of the article as HR solutions.</span></span></p>
<p class="BODYTEXT">
	<span style="font-size:12px;"><span style="color: rgb(0, 0, 0);">Thanking you!</span></span></p>
<p class="BODYTEXT" style="text-indent: 0in;">
	<span style="font-size:12px;"><span style="color: rgb(0, 0, 0);"><b>- Kriti</b></span></span></p>
<p class="BODYTEXT" style="text-indent: 0in;">
	<span style="font-size:12px;"><span style="color: rgb(0, 0, 0);"><b>meroJob.com</b></span></span></p>
<p class="BODYTEXT">
	<span style="font-size: 12px;"><span style="color: rgb(0, 0, 0);"><i>(We regret the error. - Ed.)</i></span></span></p>
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	<span style="font-size:12px;"><span style="color: rgb(0, 0, 0);"><i><br />
	</i></span></span></p>
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	<span style="font-size:12px;"><span style="color: rgb(0, 0, 0);"><b><span style="line-height: 115%;">--------------------------------------------------------------------------------------------------</span></b></span></span></p>
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	<span style="font-size:14px;"><span><span style="color: rgb(0, 0, 0);"><b><span style="line-height: 115%;"><br />
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<p class="BODYTEXT" style="text-indent: 0in;">
	<span style="font-size: 14px;"><span style="color: rgb(0, 0, 0);"><span cond="" demi="" franklin="" gothic="" sans-serif="">Chicks Will Grow</span></span></span></p>
<p class="MsoNormal" style="margin-bottom: 0.0001pt; vertical-align: middle;">
	<span style="font-size: 12px;"><span style="color: rgb(0, 0, 0);"><span aldine401="" bt="" color:="" letter-spacing:="" serif="">T</span><span aldine401="" bt="" color:="" letter-spacing:="" serif="">he Cover Story of January 2011 issue titled as Chicks are Growing put forward a very positive picture of poultry business that is growing by 30 per cent annually. This is the industry at the common people's level and it can be operated in the backyard of village homes. Poultry farming can be done by any farmer or anyone interested. It is not only the source of cash for the farmers but also a contributor to the national economy. The Cover Story says it all: this industry is contributing some three per cent to the GDP.</span></span></span></p>
<p class="MsoNormal" style="margin-bottom: 0.0001pt; vertical-align: middle;">
	<span style="font-size:12px;"><span style="color: rgb(0, 0, 0);"><span aldine401="" bt="" color:="" letter-spacing:="" serif=""><br />
	</span></span></span></p>
<p class="MsoNormal" style="margin-bottom: 0.0001pt; line-height: 11pt; vertical-align: middle;">
	<span style="font-size: 12px;"><span style="color: rgb(0, 0, 0);"><span aldine401="" bt="" color:="" letter-spacing:="" serif="">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; It is good that the Nepali poultry farmers are not so much scared now of the diseases like bird flu as they are now more aware about how to fight such incidences when they appear. Meanwhile, the availability of veterinary doctors and medicines is expanding to help the farmers. The availability of big markets in the urban areas is being utilised by the farmers and this industry provides ample evidence that the Nepali farmers are quite adept to adapt to the changing market situation no matter what their level of education may be. <br />
	</span></span></span></p>
<p class="MsoNormal" style="margin-bottom: 0.0001pt; line-height: 11pt; vertical-align: middle;">
	<span style="font-size:12px;"><span style="color: rgb(0, 0, 0);"><span aldine401="" bt="" color:="" letter-spacing:="" serif=""><br />
	</span></span></span></p>
<p class="MsoNormal" style="margin-bottom: 0.0001pt; line-height: 11pt; vertical-align: middle;">
	<span style="font-size: 12px;"><span style="color: rgb(0, 0, 0);"><span aldine401="" bt="" color:="" letter-spacing:="" serif="">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; However, the story also reveals that the per capita consumption of poultry meat is still low in the country.&nbsp; The consumption of poultry products should be encouraged due to its nutritional value. If that can be done, there is even a bigger market prospects. That means more income for the farmers and also the nation. We should not forget the market in our neighbouring countries as well. The quality products will always get a place everywhere. If food processing industries can be established, agro based and especially poultry related business will benefit the most.</span></span></span></p>
<p class="MsoNormal" style="margin-bottom: 0.0001pt; line-height: 11pt; vertical-align: middle;">
	<span style="font-size:12px;"><span style="color: rgb(0, 0, 0);"><span aldine401="" bt="" color:="" letter-spacing:="" serif=""><br />
	</span></span></span></p>
<p class="MsoNormal">
	<span style="font-size:12px;"><span style="color: rgb(0, 0, 0);"><span aldine401="" bt="" color:="" letter-spacing:="" serif="" style="line-height: 115%;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; The trend shows this industry is growing and there is prospect for more growth. The state must be promoting this sector in all possible ways so as to make this business self-reliant and stronger to become even the international supplier. I believe chicks are growing and will continue to grow in the future too.</span></span></span></p>
<p class="MsoNormal">
	<span style="font-size:12px;"><span style="color: rgb(0, 0, 0);"><span aldine401="" bt="" color:="" letter-spacing:="" serif="" style="line-height: 115%;">&nbsp;</span></span></span></p>
<p class="MsoNormal">
	<span style="font-size:12px;"><span style="color: rgb(0, 0, 0);"><b><span aldine401="" bt="" color:="" serif="">- Rabindra Pudasaini</span><br />
	<span aldine401="" bt="" color:="" serif="" style="line-height: 115%;">Chitwan</span></b></span></span></p>',
			'published' => true,
			'created' => '2011-02-07',
			'modified' => '2012-08-28',
			'keywords' => '',
			'description' => 'There was good news published on January issue of Nubiz about the Laxmi Bank going green. The bank's initiative to encourage staff to ride bicycle to office at least a day in a week is really commendable. That is something every corporate house and......',
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	(int) 12 => array(
		'Article' => array(
			'id' => '203',
			'article_category_id' => '47',
			'title' => 'Weaving Dreams & Carpets',
			'sub_title' => '',
			'summary' => null,
			'content' => '<p class="MsoNormal" style="margin-bottom: 0.0001pt; text-align: justify; line-height: normal;">
	<span style="font-size:12px;"><a href="http://www.newbusinessage.com/ckfinder/userfiles/Images/Senon D Lama.jpg"><img align="left" alt="" border="1" height="385" hspace="3" src="http://www.newbusinessage.com/ckfinder/userfiles/Images/Senon D Lama.jpg" style="width: 257px; height: 385px;margin:10px;padding:10px;" vspace="2" width="257" /></a><span color:="" franklingothic-medium="" sans-serif=""> </span><b><span bright="" color:="" lucida="" serif="">Senon D Lama</span></b></span></p>
<p class="MsoNormal" style="margin-bottom: 0.0001pt; text-align: justify; line-height: normal;">
	<span style="font-size:12px;"><i><span bright="" color:="" lucida="" serif="">Chairman and Managing Director,</span></i></span></p>
<p class="MsoNormal" style="margin-bottom: 0.0001pt; text-align: justify; line-height: normal;">
	<span style="font-size:12px;"><i><span bright="" color:="" lucida="" serif="">Senon Carpet Industries,</span></i></span></p>
<p class="MsoNormal" style="margin-bottom: 0.0001pt; text-align: justify; line-height: normal;">
	<span style="font-size:12px;"><i><span bright="" color:="" lucida="" serif="">Hotel Shahanshah Int'l &amp;</span></i></span></p>
<p class="MsoNormal" style="margin-bottom: 0.0001pt; text-align: justify; line-height: normal;">
	<span style="font-size:12px;"><i><span bright="" color:="" lucida="" serif="">System Holder</span></i></span></p>
<p class="MsoNormal" style="margin-bottom: 0.0001pt; text-align: justify; line-height: normal;">
	<span style="font-size:12px;"><span color:="" franklingothic-medium="" sans-serif="">&nbsp;</span></span></p>
<p class="MsoNormal" style="margin-bottom: 0.0001pt; text-align: justify; line-height: normal;">
	<span style="font-size: 12px;"><span color:="" franklingothic-medium="" sans-serif="">When Senon started his business, the production in Nepal was very low as carpets were imported from India. The market in the beginning was non-challenging. We never had to worry that the products would not be sold. The supply was small and the demand was much higher.â€ Unlike today, his company used to decide on quality, design and size, and the buyers used to buy what was available.</span></span></p>
<p class="MsoNormal" style="margin-bottom: 0.0001pt; text-align: justify; line-height: normal;">
	<span style="font-size:12px;"><span color:="" franklingothic-medium="" sans-serif=""><br />
	</span></span></p>
<p class="MsoNormal" style="margin-bottom: 0.0001pt; text-align: justify; line-height: normal;">
	<span style="font-size: 12px;"><i><span aldine401bt-italica="" serif="">By Gaurav Aryal&nbsp; <br />
	</span></i></span></p>
<p class="MsoNormal" style="margin-bottom: 0.0001pt; text-align: justify; line-height: normal;">
	<span style="font-size:12px;"><i><span aldine401bt-italica="" serif=""><br />
	</span></i></span></p>
<p class="MsoNormal" style="margin-bottom: 0.0001pt; text-align: justify; line-height: normal;">
	<span style="font-size:12px;"><span color:="" franklingothic-heavy="" sans-serif="">W</span><span aldine401bt-romana="" color:="" serif="">hen Senon D Lama stepped into the carpet business, he had just a dozen of looms to weave his passion. Now he is a full-fledged carpet businessman with an annual turnover of USD 1 to 1.5 million a year. He has diversified also in hospitality industries. Thus he is the the Chairman and Managing Director of Senon Carpet Industries Pvt Ltd, Hotel Shahanshah International Pvt Ltd and a sports club called the System Holder Pvt Ltd.</span></span></p>
<p class="MsoNormal" style="margin-bottom: 0.0001pt; text-align: justify; line-height: normal;">
	<span style="font-size:12px;"><br />
	Born at the remote highland village of Lo Gaun in Gorkha district, Lama landed in Kathmandu in early 1960s when he was just about 10 years old. He is sorry that he could not get higher education due to the trouble he had to go through being away from home. So, while he was enrolled for the bachelor's level in management, he started work to earn his living at the age of 22.</span></p>
<p class="MsoNormal" style="margin-bottom: 0.0001pt; text-align: justify; line-height: normal;">
	<span style="font-size:12px;"><span aldine401bt-romana="" color:="" serif=""><br />
	</span></span></p>
<p class="MsoNormal" style="margin-bottom: 0.0001pt; text-align: justify; line-height: normal;">
	<span style="font-size:12px;"><span aldine401bt-romana="" color:="" serif="">Lama had gathered some experience in woollen Nepali carpets business. So, he established his own carpet factory with about a dozen looms at Pulchowk. He also set up three carpet shops at the tourist hubs of Sundhara and Mahabouddha of Kathmandu and at the Golden Gate of Patan. Our primary customers were tourists,â€ he says. Lama claims that he was one of the pioneers in the private sector to begin with a carpet industry.<br />
	<br />
	</span></span></p>
<p class="MsoNormal" style="margin-bottom: 0.0001pt; text-align: justify; line-height: normal;">
	<span style="font-size:12px;"><span aldine401bt-romana="" color:="" serif="">I was, from the very beginning, passionate about colours and designs. I loved to play with them, he recollects the moment he began his career: One of my friends used to own a carpet shop. I used to see him having good time, going to movies and still making money. The tourists would visit his shop and buy the carpets as souvenirs paying handsome amount of money.He remembers yet another friend who was in the restaurant business and was having a tough time pleasing the customers. I compared them one watching movies, chatting and making money while another struggling to maintain his business. So, I ended up in the first business, Lama says. His same friend who owned the carpet shop was also in the car reconditioning business and he asked lama if he could buy the shop. He instantly accepted the offer and bought his friend's shop.<br />
	<br />
	</span></span></p>
<p class="MsoNormal" style="margin-bottom: 0.0001pt; text-align: justify; line-height: normal;">
	<span style="font-size:12px;"><span aldine401bt-romana="" color:="" serif="">His family back home had no idea as to what young Senon was doing. In the third year of the business, his father arrived Kathmandu unannounced.<br />
	<br />
	</span></span></p>
<p class="MsoNormal" style="margin-bottom: 0.0001pt; text-align: justify; line-height: normal;">
	<span style="font-size:12px;"><span aldine401bt-romana="" color:="" serif="">Seeing me travelling mostly by taxi, my father said I squander a lot of money At the same time, he was tremendously delighted as well as shocked to see that I was simultaneously operating three shops at three different locations of the city.<br />
	<br />
	</span></span></p>
<p class="MsoNormal" style="margin-bottom: 0.0001pt; text-align: justify; line-height: normal;">
	<span style="font-size:12px;"><span aldine401bt-romana="" color:="" serif="">When Lama started his business, the production in Nepal was very low as carpets were imported from India. The market in the beginning was nonchallenging. We never had to worry that the products would not be sold. The supply was small and the demand was much higher. Unlike today, his company used to decide on quality, design and size, and the buyers used to buy what was available. Gradually Nepal made carpets started to be viewed as fahion items. The foreigners were using them not as floorings but as pieces of art hung on the wall. International designers then started coming in with their own designs mostly the western ones.<br />
	<br />
	<br />
	In the beginning of 1980s, the export of carpet kicked off. And Lama's business took off the major flight in 1982 when a big warehouse bought all the carpets from all his three shops. Lama never had to look back since then. In 1983, I did not have the time to pay attention to my local shops, as I was focused on the export business. His company, named as Senon Enterprise, expanded in the following years. In 1988, the company was renamed as Senon Carpet Industries.<br />
	<br />
	</span></span></p>
<p class="MsoNormal" style="margin-bottom: 0.0001pt; text-align: justify; line-height: normal;">
	<span style="font-size:12px;"><span aldine401bt-romana="" color:="" serif="">Lama's success reached a new height during the 1990s when the number of employees working for him reached 1400. Comparing the situation then and now, Lama says, There used to be the mass production and mass export then. Today's business is mostly order-based.<br />
	<br />
	</span></span></p>
<p class="MsoNormal" style="margin-bottom: 0.0001pt; text-align: justify; line-height: normal;">
	<span style="font-size:12px;"><span aldine401bt-romana="" color:="" serif="">He reveals that his company is now working for the year 2012. We completed our production last year for 2011 and the catalogue for that was ready in September 2010. Catalogue for 2012 </span><span aldine401bt-romana="" serif="">will be ready in 2011 September. He further says the planning and research for the design for 2013 is going on. He himself goes through hundreds of designs and decides which of them would suit for which of the quality of the carpets he will produce. We have to go into serious research before making any commitment. <br />
	<br />
	</span></span></p>
<p class="MsoNormal" style="margin-bottom: 0.0001pt; text-align: justify; line-height: normal;">
	<span style="font-size:12px;"><span aldine401bt-romana="" serif="">The wage rate, the labour law, and the price of the raw material have to be speculated for the coming years before making such commitment, he says.<br />
	<br />
	</span></span></p>
<p class="MsoNormal" style="margin-bottom: 0.0001pt; text-align: justify; line-height: normal;">
	<span style="font-size:12px;"><span aldine401bt-romana="" serif="">Today, Lama exports his carpets to Germany, the Netherlands, UK, USA, Mexico, Japan, and Australia, to name a few. From these destinations, the same carpets are exported to other countries as well.<br />
	<br />
	</span></span></p>
<p class="MsoNormal" style="margin-bottom: 0.0001pt; text-align: justify; line-height: normal;">
	<span style="font-size:12px;"><span aldine401bt-romana="" serif="">Apart from the carpet industry, Lama is also the proud owner of Hotel Shahanshah, System Holder, a sports club and some real estate businesses. Besides, he is into social work too. No matter how many ventures I do have, carpet business is the most precious one and close to my life. I am never going to detach it from my life though I may have to return back to a dozen looms again, he says. This is my religion. This business cannot be evaluated on mere profit and loss.<br />
	<br />
	</span></span></p>
<p class="MsoNormal" style="margin-bottom: 0.0001pt; text-align: justify; line-height: normal;">
	<span style="font-size:12px;"><span aldine401bt-romana="" serif="">For Lama, failure is not the reason to regret. He says he never regrets his past. He feels blessed to be able to see the whole world, though born in one of the remotest corners of the world. The excitement he had when he first bought the motorbike is the moment he never forgets. When I first bought my motorbike, I was so excited and felt the sense of&nbsp;&nbsp; achievement. I don't feel the same when I buy a new car now.Lama says work is his passion and hobby. He enjoys his work as much as the sports like football and hockey. There are professionals to look after his other businesses, but in the carpet business he insists to go through every minutest detail on his own. He has never fired any worker till date. He credits his success to his workers. He pays his staff at the production line on the weekly basis while those in other lines are paid on monthly basis. Altogether 700 persons work for him now though this number was about 1400 in the 1990s.<br />
	<br />
	</span></span></p>
<p class="MsoNormal" style="margin-bottom: 0.0001pt; text-align: justify; line-height: normal;">
	<span style="font-size:12px;"><span aldine401bt-romana="" serif="">Lama has worked for 36 years and says, every day, I have spent 12 to 16 hours in my work. He is already 60 but has not thought of retiring. I'm not tired, so no question of being retired, he quips. Retirement kills you psychologically, makes body slow and reduces the stamina.â€ He thinks he can work for the next 15 years.<br />
	<br />
	</span></span></p>
<p class="MsoNormal" style="margin-bottom: 0.0001pt; text-align: justify; line-height: normal;">
	<span style="font-size:12px;"><span aldine401bt-romana="" serif="">Lama says human body is a temple. We have to worship it. We should not put junks into it, he says revealing the secret of being healthy. Another secret is his regimen of physical exercises. In olde days, he used to spend at least one and half hour a day in sports. He used to wake up at 4 in the morning and rush to the tennis court at The Everest Hotel. Currently, he is spending at least 30 to 40 minutes a day exercising. In his free time, he loves listening to music of all genre from Nepali to English pops to fast beats. He says he is not able to give a lot of time to his family. He sometimes works on Saturdays too. I want to see them laughing. I have to listen to everybody to make them happy. Sometimes, there is a conflict of interest. But I try to address everyone's wishes, he says.<br />
	<br />
	</span></span></p>
<p class="MsoNormal" style="margin-bottom: 0.0001pt; text-align: justify; line-height: normal;">
	<span style="font-size:12px;"><span aldine401bt-romana="" serif="">Lama has plans to expand his business in the promising tourism sector. Now I have almost 12 years of experience in the hotel industry. I am quite confident about expanding it. Most probably he will set up a spa.&nbsp; </span></span></p>
<p class="MsoNormal" style="margin-bottom: 0.0001pt; text-align: justify; line-height: normal;">
	<span style="font-size:12px;"><span aldine401bt-romana="" serif="">&nbsp;</span></span></p>
<p class="MsoNormal" style="margin-bottom: 0.0001pt; text-align: justify; line-height: normal;">
	<span style="font-size:12px;"><strong><span style="color: rgb(178, 34, 34);"><span color:="" franklingothic-heavy="" sans-serif="">PERSONAL SIDE</span></span></strong></span></p>
<ul>
	<li>
		<span style="font-size:12px;"><span franklingothic-medium="" sans-serif="">Loves music. Narayan Gopal is his favourite Nepali artist. He also listens to Celine Dion, Mariah Carey, Eric Clapton, Bryan Adams and Michael Jackson among others</span><br />
		</span></li>
	<li>
		<span style="font-size:12px;"><span franklingothic-medium="" sans-serif="">Likes collecting magazines from around the world </span><br />
		</span></li>
	<li>
		<span style="font-size:12px;"><span franklingothic-medium="" sans-serif="">Tennis, squash, bowling are his favourite sports </span><br />
		</span></li>
	<li>
		<span style="font-size:12px;"><span franklingothic-medium="" sans-serif="">Does not have passion for books but dreams to read them in future </span><br />
		</span></li>
	<li>
		<span style="font-size:12px;"><span franklingothic-medium="" sans-serif="">Not brand conscious, very casual</span><br />
		</span></li>
	<li>
		<span style="font-size:12px;"><span franklingothic-medium="" sans-serif="">Likes cars and currently drives Toyota Prado</span><br />
		</span></li>
	<li>
		<span style="font-size:12px;"><span franklingothic-medium="" sans-serif="">Has driven fi ve different bikes until now </span><br />
		</span></li>
	<li>
		<span style="font-size:12px;"><span franklingothic-medium="" sans-serif="">Also involved in social activities <br />
		</span><br />
		</span></li>
</ul>',
			'published' => true,
			'created' => '2011-01-28',
			'modified' => '2012-09-17',
			'keywords' => '',
			'description' => 'When Senon started his business, the production in Nepal was very low as carpets were imported from India. The market in the beginning was non-challenging. We never had to worry that the products would not be sold. The supply was small and the demand was much higher. Unlike today, his company used to decide on quality,',
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	(int) 13 => array(
		'Article' => array(
			'id' => '202',
			'article_category_id' => '48',
			'title' => 'Where Is CEO Charisma ?',
			'sub_title' => '',
			'summary' => null,
			'content' => '<p class="MsoNormal" style="text-align: justify;">
	<span style="font-size:12px;"><i><span bright="" lucida="" serif="" style="line-height: 115%;"><a href="http://www.newbusinessage.com/ckfinder/userfiles/Images/small.jpg" target="_blank"><img align="left" alt="nolaughingmatter" border="1" height="143" hspace="5" src="http://www.newbusinessage.com/ckfinder/userfiles/Images/small.jpg" style="width: 105px; height: 143px;margin:10px;padding:10px;" vspace="5" width="105" /></a></span></i></span></p>
<p class="MsoNormal" style="margin-bottom: 0.0001pt; text-align: justify; line-height: normal;">
	<span style="font-size: 12px;"><i><span bright="" lucida="" serif="" style="line-height: 115%;">&nbsp;</span></i><span color:="" franklingothic-heavy="" sans-serif="">T</span><span aldine401bt-romana="" color:="" serif="">he very recent hot topic for news in our media has been the pay of CEOs in bank and financial institutions. No sooner the central bank issued a notice called directive, the wowed aspects of their pay spilled to the public gaze. CEOs started to cry a foul by the central bank in the D area of their respective bank boards. NRB people tried to defend their move claiming nothing less than ˜this directive will not have any effect to the pay CEOs are now enjoying. But this neither stopped the media hype nor did the crying pitch of CEOs reduce. <br />
	</span></span></p>
<p class="MsoNormal" style="margin-bottom: 0.0001pt; text-align: justify; line-height: normal;">
	<span style="font-size:12px;"><span aldine401bt-romana="" color:="" serif=""><br />
	</span></span></p>
<p class="MsoNormal" style="margin-bottom: 0.0001pt; text-align: justify; line-height: normal;">
	<span style="font-size: 12px;"><span aldine401bt-romana="" color:="" serif="">You may wonder what is so big deal about it? Why is everyone from the governor of Nepal Rastra Bank and the government secretaries to the media after the CEO's salary? Are CEOs really overpaid? For that matter, are the rank-and-file workers underpaid? <br />
	</span></span></p>
<p class="MsoNormal" style="margin-bottom: 0.0001pt; text-align: justify; line-height: normal;">
	<span style="font-size:12px;"><span aldine401bt-romana="" color:="" serif=""><br />
	</span></span></p>
<p class="MsoNormal" style="margin-bottom: 0.0001pt; text-align: justify; line-height: normal;">
	<span style="font-size: 12px;"><span aldine401bt-romana="" color:="" serif="">Only in a cursory look, one may find that it is not the question of CEOs getting less or more but the fact of the matter is : these CEOs are simply uncharismatic and don't know how to buy great things with small pay. Lack of this quality in them raises larger question of would these people at the helm help the institution earn more by spending less. <br />
	</span></span></p>
<p class="MsoNormal" style="margin-bottom: 0.0001pt; text-align: justify; line-height: normal;">
	<span style="font-size:12px;"><span aldine401bt-romana="" color:="" serif=""><br />
	</span></span></p>
<p class="MsoNormal" style="margin-bottom: 0.0001pt; text-align: justify; line-height: normal;">
	<span style="font-size: 12px;"><span aldine401bt-romana="" color:="" serif=""><a href="http://www.newbusinessage.com/ckfinder/userfiles/Images/no laughin.jpg" target="_self"><img align="left" alt="nolaughingmatter" border="1" height="198" hspace="5" src="http://www.newbusinessage.com/ckfinder/userfiles/Images/no laughin.jpg" style="width: 217px; height: 198px;margin:10px;padding:10px;" vspace="5" width="217" /></a>Take an example of a government section officer or an undersecretary; he might hardly draw more than Rs. fifteen thousand a month. But in five years, he will have at least a new house in Kathmandu, a four wheeler and a wife who wears ornaments of a few hundred thousand, if not millions, rupees.</span></span></p>
<p class="MsoNormal" style="margin-bottom: 0.0001pt; text-align: justify; line-height: normal;">
	<span style="font-size:12px;"><span aldine401bt-romana="" color:="" serif=""><br />
	</span></span></p>
<p class="MsoNormal" style="margin-bottom: 0.0001pt; text-align: justify; line-height: normal;">
	<span style="font-size: 12px;"><span aldine401bt-romana="" color:="" serif="">And, the most important thing is, he never complaints about the salary, and the government unlike the Rastra Bank does not send out a memo to reduce his pay. Why can't these folks called CEOs have that sort of creative acumen to manage things like that on their own? They surely lack ability to manage and choose to beg at least not to cut what they get. <br />
	</span></span></p>
<p class="MsoNormal" style="margin-bottom: 0.0001pt; text-align: justify; line-height: normal;">
	<span style="font-size:12px;"><span aldine401bt-romana="" color:="" serif=""><br />
	</span></span></p>
<p class="MsoNormal" style="margin-bottom: 0.0001pt; text-align: justify; line-height: normal;">
	<span style="font-size: 12px;"><span aldine401bt-romana="" color:="" serif="">By now it is evident that our CEOs are unable to pull and pool the recourses. Even worse, they don't learn from the big people. Look at how our supply minister manages his supply of petrol free of cost from the Oil Corporation. And how unremorsefully the chief of the Corporation, who is also the CEO of another breed, helps meet the end of his patron is more of a lesson. Having seen so many deficiencies in them, it is hard to believe that most CEOs in Nepal's BF's are intelligent, have advanced degrees often from one of the top universities in the world and work some sixty or more hours a week. <br />
	</span></span></p>
<p class="MsoNormal" style="margin-bottom: 0.0001pt; text-align: justify; line-height: normal;">
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	<span style="font-size: 12px;"><span aldine401bt-romana="" color:="" serif="">Therefore, to convince at least to their hawkish supervisor called Ratra Bank that they are deserving enough to draw a handsome salary and perks, these CEOs must mend their ways that suits the indigenous soil. They must stop demanding this and that facility or mercy from the Rastra Bank. Instead, they can learn from the supervisors there. Drawing salary purse from the office, many NRB supervisors spend their day dealing with personal business of bonds or share trade or reaches to the political mentor of the choice. Effectively, s/he would earn in a day what a CEO earns in a month. Isnt it something to be inspired about ? <br />
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	<strong><span style="font-size: 12px;"><span style="color: rgb(0, 0, 0);"><span style="background-color: rgb(240, 255, 240);">'I See Prospects in Herbs, Tourism and of course, Carpet'</span></span></span></strong></p>
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	<strong><span style="font-size: 12px;"><span style="color: rgb(0, 0, 0);"><br />
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	<span style="font-size: 12px;"><span style="color: rgb(0, 0, 0);"><em>Gopal Sunder Lal Kakshapati is the newly elected President of Nepal-German Chamber of Commerce and Industry (NGCCI). Kakshapati, in an interview with Nubiz, says his basic priority would be to revive and maintain the old trade surplus figure that Nepal had been enjoying in the past with Germany, now a key member of the European Union. With the nose-diving of carpet and garment exports, Nepal has nothing much to offer to German market. Still, Kakshapati is hopeful that the branding of some of Nepal's food products such as tea and coffee and attracting more German tourists to Nepal can still help get the old trade figures back. Excerpts:</em></span></span></p>
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	<strong><span style="font-size: 12px;"><span style="color: rgb(0, 0, 0);">What is your new vision as the new president of Nepal-German Chamber of Commerce and Industry?</span></span></strong></p>
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	</span></span></strong></p>
<p class="MsoNormal" style="margin-bottom: 0.0001pt; text-align: justify; line-height: normal;">
	<span style="font-size: 12px;"><span style="color: rgb(0, 0, 0);">I have segregated it into two parts. The chamber is 18 years old. Some of its legacies I have to carry on. I cannot opt out of the regular programmes the Chamber has been doing. For example, the Chamber has been promoting Nepal's tourism in Germany since 1994. It is called CMT Caravan Motor Touristic. It is a very popular fair in Germany. More than one million people visit the fair each year. So, it must continue. Besides, there are some other regular programmes which I will continue. That is the first part of my aim. As for the new vision, I want to expand whatever economic ties exist between Nepal and Germany. If you look at the overall figures for the past one year or two, our overall trade balance has not been in our favour. But Germany is one country with which we have trade surplus. But the margin of that surplus is now decreasing. I want to bring it back at least to the old figures. That is my main aim.</span></span></p>
<p class="MsoNormal" style="margin-bottom: 0.0001pt; text-align: justify; line-height: normal;">
	<span style="font-size:12px;"><span style="color: rgb(0, 0, 0);"><br />
	</span></span></p>
<p class="MsoNormal" style="margin-bottom: 0.0001pt; text-align: justify; line-height: normal;">
	<span style="font-size: 12px;"><span style="color: rgb(0, 0, 0);">Germans are looking for new products from Nepal. For example, Nepali tea and coffee have entered into the German market but lack effective branding. I would like to brand it as Nepali tea or Nepali coffee. I see a scope there. Likewise, we are always talking about Nepali herbal and similar products. Herbal is one product which a lot of developed countries are eyeing on. Nepal is so rich in herbal resources. If we produce and market it, Germany would be one of the very popular destinations for these products.</span></span></p>
<p class="MsoNormal" style="margin-bottom: 0.0001pt; text-align: justify; line-height: normal;">
	<span style="font-size:12px;"><span style="color: rgb(0, 0, 0);"><br />
	</span></span></p>
<p class="MsoNormal" style="margin-bottom: 0.0001pt; text-align: justify; line-height: normal;">
	<span style="font-size: 12px;"><span style="color: rgb(0, 0, 0);">Similarly, besides exporting to Germany, I want to work on capacity building in the country to export different products from Nepal. The Chamber has the past history of such works. For example, it organised a tea seminar in Ilam some years ago. We invited experts from Germany one as the market expert and another as the product expert. These experts directly interacted with the tea producers regarding the choice of taste of Germans and market situation there. That proved very effective. I want to do the same for other products also, for example, herbal, as I have mentioned. <br />
	</span></span></p>
<p class="MsoNormal" style="margin-bottom: 0.0001pt; text-align: justify; line-height: normal;">
	<span style="font-size:12px;"><span style="color: rgb(0, 0, 0);"><br />
	</span></span></p>
<p class="MsoNormal" style="margin-bottom: 0.0001pt; text-align: justify; line-height: normal;">
	<span style="font-size: 12px;"><span style="color: rgb(0, 0, 0);">Nepal's herbal products are yet to be processed and branded well. In the case of coffee too, we have to enhance our quality. Today, it is soothing to see professionals involved in coffee production. The bottom-line again is that we have to increase the quantity and improve the quality. When we work with a developed country, quality is always the first priority to have an access into their market.</span></span></p>
<p class="MsoNormal" style="margin-bottom: 0.0001pt; text-align: justify; line-height: normal;">
	<span style="font-size:12px;"><span style="color: rgb(0, 0, 0);"><br />
	</span></span></p>
<p class="MsoNormal" style="margin-bottom: 0.0001pt; text-align: justify; line-height: normal;">
	<span style="font-size: 12px;"><span style="color: rgb(0, 0, 0);">During my travel to Germany I found that Nepali business community has not been able to explore the existing opportunities in terms of machinery, information, etc. There are only a handful who have done so. I think Nepali businessmen should also go to the expos in the places in Germany so as to learn things and gain expertise. Therefore, I am also in favour of promoting exchange visits of business people between the two countries.</span></span></p>
<p class="MsoNormal" style="margin-bottom: 0.0001pt; text-align: justify; line-height: normal;">
	<span style="font-size:12px;"><span style="color: rgb(0, 0, 0);"><br />
	</span></span></p>
<p class="MsoNormal" style="margin-bottom: 0.0001pt; text-align: justify; line-height: normal;">
	<strong><span style="font-size: 12px;"><span style="color: rgb(0, 0, 0);">How do you think the Nepal Germany trade relation can be made favourable to Nepal? <br />
	</span></span></strong></p>
<p class="MsoNormal" style="margin-bottom: 0.0001pt; text-align: justify; line-height: normal;">
	<strong><span style="font-size:12px;"><span style="color: rgb(0, 0, 0);"><br />
	</span></span></strong></p>
<p class="MsoNormal" style="margin-bottom: 0.0001pt; text-align: justify; line-height: normal;">
	<span style="font-size: 12px;"><span style="color: rgb(0, 0, 0);">As I said earlier, Germany is one country where Nepal has trade surplus. But we should not be content with whatever trade figure we have. The Chamber in the past has worked with DIHL which is the authority in Germany to expand trade relation between any countries. When I visited their office in Germany, I found that they have given very tiny space to Nepal. They showed me the huge trade volume they had with China. Through the exchange of visits and co-work among various chambers in Germany, I think we may be able to increase the trade prospects of Nepal. <br />
	</span></span></p>
<p class="MsoNormal" style="margin-bottom: 0.0001pt; text-align: justify; line-height: normal;">
	<span style="font-size:12px;"><span style="color: rgb(0, 0, 0);"><br />
	</span></span></p>
<p class="MsoNormal" style="margin-bottom: 0.0001pt; text-align: justify; line-height: normal;">
	<strong><span style="font-size: 12px;"><span style="color: rgb(0, 0, 0);">Even the European countries are removing Nepal from the list of â€œpreferential trading partner very shortly. How can your Chamber contribute to retaining Nepal's status as a beneficiary of developing country concession of EU?</span></span></strong></p>
<p class="MsoNormal" style="margin-bottom: 0.0001pt; text-align: justify; line-height: normal;">
	<strong><span style="font-size:12px;"><span style="color: rgb(0, 0, 0);"><br />
	</span></span></strong></p>
<p class="MsoNormal" style="margin-bottom: 0.0001pt; text-align: justify; line-height: normal;">
	<span style="font-size: 12px;"><span style="color: rgb(0, 0, 0);">Yes, I also heard that. It is an agenda for me to talk with the EU representatives in Nepal first and find out what was the reason behind it. There could be so many reasons, and I will work on how to address the situation. First and the foremost, I must know the reasons. After that, we the Chamber and other organisations like the carpet association, etc can lobby together. I will also work closely with German development institutions like GTZ. We, as individual organisations and with others jointly, will lobby to retain our position in the EU.</span></span></p>
<p class="MsoNormal" style="margin-bottom: 0.0001pt; text-align: justify; line-height: normal;">
	<span style="font-size:12px;"><span style="color: rgb(0, 0, 0);"><br />
	</span></span></p>
<p class="MsoNormal" style="margin-bottom: 0.0001pt; text-align: justify; line-height: normal;">
	<strong><span style="font-size: 12px;"><span style="color: rgb(0, 0, 0);">Nepal-German Chamber of Commerce and Industry is one the oldest bilateral chambers in Nepal. How do you view its achievements?</span></span></strong></p>
<p class="MsoNormal" style="margin-bottom: 0.0001pt; text-align: justify; line-height: normal;">
	<strong><span style="font-size:12px;"><span style="color: rgb(0, 0, 0);"><br />
	</span></span></strong></p>
<p class="MsoNormal" style="margin-bottom: 0.0001pt; text-align: justify; line-height: normal;">
	<span style="font-size: 12px;"><span style="color: rgb(0, 0, 0);">I think it was the first bi-national chamber in Nepal. The establishment of the Chamber introduced the concept of bi-national chambers in our country. Some 18 years ago, nobody thought of a bi-national chamber could be so important. One of the major achievements of the Chamber is that we have been able to join hands with various German trade bodies and even development agencies like GTZ. The Chamber has enhanced and promoted ties between Nepal and Germany. An example is tourism. The Chamber has been instrumental in the arrival of German tourists in Nepal as well for expanding market of Nepali products such as carpet and garment in Germany. From time and again, we have been taking business delegations to Germany. Such steps are helpful in strengthening trade links.</span></span></p>
<p class="MsoNormal" style="margin-bottom: 0.0001pt; text-align: justify; line-height: normal;">
	<span style="font-size:12px;"><span style="color: rgb(0, 0, 0);"><br />
	</span></span></p>
<p class="MsoNormal" style="margin-bottom: 0.0001pt; text-align: justify; line-height: normal;">
	<strong><span style="font-size: 12px;"><span style="color: rgb(0, 0, 0);">Most of the economic activities in EU seem to be consolidated under EU umbrella. Do you think the bilateral trade relations of a country like Nepal with individual member countries of EU hold long term importance?</span></span></strong></p>
<p class="MsoNormal" style="margin-bottom: 0.0001pt; text-align: justify; line-height: normal;">
	<strong><span style="font-size:12px;"><span style="color: rgb(0, 0, 0);"><br />
	</span></span></strong></p>
<p class="MsoNormal" style="margin-bottom: 0.0001pt; text-align: justify; line-height: normal;">
	<span style="font-size: 12px;"><span style="color: rgb(0, 0, 0);">Though EU has certain umbrella policies, bilateral trade&nbsp;&nbsp; relations too hold importance. There are layer of two policies in EU: one is at macro level, i.e., the umbrella policy, and another at the micro-level, i.e., the individual country's policies. Both policies work together. I don't think the situation will change so drastically in a very short period of time. Our chamber has a direct link to the German trade bodies. Of course, there is a big umbrella called EU but within that big umbrella, there are small umbrellas too. <br />
	</span></span></p>
<p class="MsoNormal" style="margin-bottom: 0.0001pt; text-align: justify; line-height: normal;">
	<span style="font-size:12px;"><span style="color: rgb(0, 0, 0);"><br />
	</span></span></p>
<p class="MsoNormal" style="margin-bottom: 0.0001pt; text-align: justify; line-height: normal;">
	<strong><span style="font-size: 12px;"><span style="color: rgb(0, 0, 0);">What do you think are the areas Nepal can benefit in the trade with Germany?</span></span></strong></p>
<p class="MsoNormal" style="margin-bottom: 0.0001pt; text-align: justify; line-height: normal;">
	<strong><span style="font-size:12px;"><span style="color: rgb(0, 0, 0);"><br />
	</span></span></strong></p>
<p class="MsoNormal" style="margin-bottom: 0.0001pt; text-align: justify; line-height: normal;">
	<span style="font-size: 12px;"><span style="color: rgb(0, 0, 0);">If we talk about trade from Germany to Nepal, there are so many factors. We have members who have the business of &nbsp;German medical equipments in Nepal. And there is possibility of cooperation in hydroelectricity development. There are so many other sectors like Information Technology, in which Nepal can attract investments. Germany being a highly developed country, Nepal can learn many things from it.</span></span></p>
<p class="MsoNormal" style="margin-bottom: 0.0001pt; text-align: justify; line-height: normal;">
	<span style="font-size:12px;"><span style="color: rgb(0, 0, 0);"><br />
	</span></span></p>
<p class="MsoNormal" style="margin-bottom: 0.0001pt; text-align: justify; line-height: normal;">
	<strong><span style="font-size: 12px;"><span style="color: rgb(0, 0, 0);">Despite our almost half a century long trade relation, where do you think Nepal lacked taking advantage from the German market?</span></span></strong></p>
<p class="MsoNormal" style="margin-bottom: 0.0001pt; text-align: justify; line-height: normal;">
	<strong><span style="font-size:12px;"><span style="color: rgb(0, 0, 0);"><br />
	</span></span></strong></p>
<p class="MsoNormal" style="margin-bottom: 0.0001pt; text-align: justify; line-height: normal;">
	<span style="font-size: 12px;"><span style="color: rgb(0, 0, 0);">I think, what Nepal lacks is its own confidence. The political and social situations, among other factors, are responsible for that. We have not been able to use the potentials that the German cooperation offers to us. A number of joint venture companies have shut down because of our own reasons, such as the lack of security. We have a recent example. One executive member who had been manufacturing garments shifted his office elsewhere from the previous location owing to violence and security lapses. So, there indeed was opportunity which we could not simply tap.</span></span></p>
<p class="MsoNormal" style="margin-bottom: 0.0001pt; text-align: justify; line-height: normal;">
	<span style="font-size:12px;"><span style="color: rgb(0, 0, 0);"><br />
	</span></span></p>
<p class="MsoNormal" style="margin-bottom: 0.0001pt; text-align: justify; line-height: normal;">
	<strong><span style="font-size: 12px;"><span style="color: rgb(0, 0, 0);">What are the major export items of Nepal to Germany? <br />
	</span></span></strong></p>
<p class="MsoNormal" style="margin-bottom: 0.0001pt; text-align: justify; line-height: normal;">
	<strong><span style="font-size:12px;"><span style="color: rgb(0, 0, 0);"><br />
	</span></span></strong></p>
<p class="MsoNormal" style="margin-bottom: 0.0001pt; text-align: justify; line-height: normal;">
	<span style="font-size: 12px;"><span style="color: rgb(0, 0, 0);">If you look at the old data, 80 per cent of the trade is occupied by carpet and garment. Gradually, food market such as tea and coffee is also coming in. Nepal has very limited products to export. We have to increase their quality. We don't have much choice.</span></span></p>
<p class="MsoNormal" style="margin-bottom: 0.0001pt; text-align: justify; line-height: normal;">
	<span style="font-size:12px;"><span style="color: rgb(0, 0, 0);"><br />
	</span></span></p>
<p class="MsoNormal" style="margin-bottom: 0.0001pt; text-align: justify; line-height: normal;">
	<strong><span style="font-size: 12px;"><span style="color: rgb(0, 0, 0);">What are the challenges in Nepal-German trade?</span></span></strong></p>
<p class="MsoNormal" style="margin-bottom: 0.0001pt; text-align: justify; line-height: normal;">
	<strong><span style="font-size: 12px;"><span style="color: rgb(0, 0, 0);"><br />
	</span></span></strong></p>
<p class="MsoNormal" style="margin-bottom: 0.0001pt; text-align: justify; line-height: normal;">
	<span style="font-size: 12px;"><span style="color: rgb(0, 0, 0);">The most pertinent challenges are seen in the tourism sector. If we compare the data of German tourists arrival in Nepal, it was 45 to 55 thousand in 1998. Now it has decreased to 20 to 25 thousand only. It is the biggest challenge why have we not been able to attract German tourists as in the 1990s or the 80s? Second challenge is on retaining the market for our carpet. Its export has now nosedived compared to the previous years.</span></span></p>
<p class="MsoNormal" style="margin-bottom: 0.0001pt; text-align: justify; line-height: normal;">
	<span style="font-size:12px;"><span style="color: rgb(0, 0, 0);"><br />
	</span></span></p>
<p class="MsoNormal" style="margin-bottom: 0.0001pt; text-align: justify; line-height: normal;">
	<strong><span style="font-size: 12px;"><span style="color: rgb(0, 0, 0);">Do you have German collaboration in your business too?</span></span></strong></p>
<p class="MsoNormal" style="margin-bottom: 0.0001pt; text-align: justify; line-height: normal;">
	<strong><span style="font-size:12px;"><span style="color: rgb(0, 0, 0);"><br />
	</span></span></strong></p>
<p class="MsoNormal" style="margin-bottom: 0.0001pt; text-align: justify; line-height: normal;">
	<span style="font-size: 12px;"><span style="color: rgb(0, 0, 0);">My primary business is restaurant and I have investments in a bank, among other sectors. At present, I am working with German companies on new products. So basically I'm a restaurateur. I joined the Chamber in the 1990s, as I was asked to. Earlier, I had a travel agency, so my keen interest is in tourism. So I hope to promote tourism along with other sectors being in the Chamber. <br />
	</span></span></p>
<p class="MsoNormal" style="margin-bottom: 0.0001pt; text-align: justify; line-height: normal;">
	<span style="font-size:12px;"><span style="color: rgb(0, 0, 0);"><br />
	</span></span></p>
<p class="MsoNormal" style="margin-bottom: 0.0001pt; text-align: justify; line-height: normal;">
	<strong><span style="font-size: 12px;"><span style="color: rgb(0, 0, 0);">How do you foresee the Nepal-German economic ties in the longer run?</span></span></strong></p>
<p class="MsoNormal" style="margin-bottom: 0.0001pt; text-align: justify; line-height: normal;">
	<strong><span style="font-size:12px;"><span style="color: rgb(0, 0, 0);"><br />
	</span></span></strong></p>
<p class="MsoNormal" style="margin-bottom: 0.0001pt; text-align: justify; line-height: normal;">
	<span style="font-size:12px;"><span style="color: rgb(0, 0, 0);">The relation between two countries is of course fundamentally economic and I think this kind of bi-national chamber always helps to promote trade. As of now, we have 22 or 23 bi-national chambers. Nepali business community should have this kind of platform that helps make an easier access into business-related information and facilitation in the counterpart country.</span></span></p>
<p>
	<span style="font-size: 12px;"><span style="color: rgb(0, 0, 0);">&nbsp;</span></span></p>
<p>
	<span style="font-size:12px;"><span style="color: rgb(0, 0, 0);"><br />
	</span></span></p>
<p class="MsoNormal" style="margin-bottom: 0.0001pt; text-align: justify; line-height: normal;">
	<strong><span style="font-size: 12px;"><span style="color: rgb(0, 0, 0);">Facts and Figures:</span></span></strong></p>
<p class="MsoNormal" style="margin-bottom: 0.0001pt; text-align: justify; line-height: normal;">
	<strong><span style="font-size:12px;"><span style="color: rgb(0, 0, 0);"><br />
	</span></span></strong></p>
<ul>
	<li>
		<span style="font-size:12px;"><span style="color: rgb(0, 0, 0);"><span color:="">Germany is one of the biggest export markets for Nepal and ranked 4th after India, USA and Bangladesh. During the FY 2009/10, the Nepali export to Germany could maintain favourable trade position but the export volume decreased by Rs 2,391 million, 14.1 per cent less compared to the previous year. <br />
		</span></span></span></li>
	<li>
		<span style="font-size:12px;"><span style="color: rgb(0, 0, 0);"><span color:="">Nepal's overall exports declined in FY 2009/10 by 11.1 per cent to Rs 60.9 billion whereas imports continued to increase by 29.1 per cent to Rs 375.6 billion. This development has further widened the overall trade deficit which was about Rs 314.7 billion (+41.5%) in FY 2009/10.<br />
		</span></span></span></li>
	<li>
		<span style="font-size:12px;"><span style="color: rgb(0, 0, 0);"><span color:="">Due to the decline of exports, the overall Nepal-German foreign trade has also slightly declined in the FY 2009/10. The total bilateral trade fell from Rs 5,029 million to Rs 4,713 million a decline of 6.3 per cent compared to the previous year. Imports from Germany rose by 3.5 per cent compared to FY 2008/09 to Rs 2,322 million.<br />
		</span></span></span></li>
	<li>
		<span style="font-size:12px;"><span style="color: rgb(0, 0, 0);"><span color:="">Germany is one of the few countries with a positive trade balance for Nepal (after Bangladesh, Bhutan and Canada) although the trade balance came down from a comfortable surplus of Rs 541 million in FY 2008/09 to Rs 69 million in FY 2009/10.<br />
		</span></span></span></li>
	<li>
		<span style="font-size: 12px;"><span style="color: rgb(0, 0, 0);"><span color:="">Exports to Germany In FY 2009/10, the decline of exports to Germany was caused by a decline in Textiles, clothing and accessories (9.6%), Food (19.0%) and Others <br />
		</span></span></span></li>
</ul>
<p class="MsoNormal" style="margin-bottom: 0.0001pt; text-align: justify; line-height: normal;">
	<span style="font-size:12px;"><span style="color: rgb(0, 0, 0);"><span color:=""><br />
	</span></span></span></p>
<p>
	<strong><span style="font-size:12px;"><span style="color: rgb(0, 0, 0);"><br />
	</span></span></strong></p>
<p class="MsoNormal" style="margin-bottom: 0.0001pt; text-align: justify; line-height: normal;">
	<strong><span style="font-size: 12px;"><span style="color: rgb(0, 0, 0);">Nepal-German Foreign Trade</span></span></strong></p>
<p class="MsoNormal" style="margin-bottom: 0.0001pt; text-align: justify; line-height: normal;">
	<strong><span style="font-size: 12px;"><span style="color: rgb(0, 0, 0);"><br />
	</span></span></strong></p>
<p class="MsoNormal" style="margin-bottom: 0.0001pt; text-align: justify; line-height: normal;">
	<span style="font-size: 12px;"><span style="color: rgb(0, 0, 0);">(52.6%). The export of carpets almost 60 per cent of the total exports to Germany further dropped down from Rs 1.53 billion to Rs 1.42 billion. It was a decline of 6.8 per cent. Germany is one of the biggest export markets for Nepalese carpet industry. It ranked second after the USA. The exports of woolen shawls decreased by 39.7 per cent (Rs 242.1 million) while exports of clothing slightly increased by 3.5 per cent (Rs 270.8 million) in comparison to the previous year. The decline in food exports to Germany were caused by decreasing exports of lentils, coffee and spices while the exports of tea (13.3%) and medical plants further increased. Germany, with an export volume of Rs 33.2 million, is the second biggest export market for Nepalese tea mainly the orthodox tea after India. The exports of paintings came down by 69.4 per cent to Rs 75.4 million. <br />
	</span></span></p>
<p class="MsoNormal" style="margin-bottom: 0.0001pt; text-align: justify; line-height: normal;">
	<span style="font-size:12px;"><span style="color: rgb(0, 0, 0);"><br />
	</span></span></p>
<p class="MsoNormal" style="margin-bottom: 0.0001pt; text-align: justify; line-height: normal;">
	<span style="font-size: 12px;"><span style="color: rgb(0, 0, 0);">Imports from Germany In FY 2009/10, the total imports from Germany experienced a slight increase of 3.5 per cent compared to the previous figure of Rs 2.3 billon. The development of the various product categories, however, was quite different. The imports of Machineries and electrical equipments, the major import goods from Germany that stand for more than 50 per cent of the total imports, increased by 7.5 per cent to Rs 1.2 billion. A closer look to this category reveals that Germany is an important supplier for mechanical machineries especially for the packing, printing, food, tobacco and textile sector. The imports of mechanical machineries increased by 2.6 per cent to Rs 932.1 million. And the imports of electrical machineries and equipments increased by 29.7 per cent compared to the FY 2008/09. <br />
	</span></span></p>
<p class="MsoNormal" style="margin-bottom: 0.0001pt; text-align: justify; line-height: normal;">
	<span style="font-size:12px;"><span style="color: rgb(0, 0, 0);"><br />
	</span></span></p>
<p class="MsoNormal" style="margin-bottom: 0.0001pt; text-align: justify; line-height: normal;">
	<span style="font-size: 12px;"><span style="color: rgb(0, 0, 0);">The imports of vehicles went up from Rs 6.5 million to Rs 80.4 million. The imports of medical devices and laboratory equipments increased by 13.8 per cent to Rs 275.7 million. And the imports of chemical and pharmaceutical substances and plastic rose by 11.4 per cent to Rs 265.7 million.</span></span></p>
<p class="MsoNormal" style="margin-bottom: 0.0001pt; text-align: justify; line-height: normal;">
	<span style="font-size: 12px;"><span style="color: rgb(0, 0, 0);"><br />
	</span></span></p>
<p class="MsoNormal" style="margin-bottom: 0.0001pt; text-align: justify; line-height: normal;">
	<strong><span style="font-size: 12px;"><span style="color: rgb(0, 0, 0);"><i>(Source: Nepal-German Chamber of Commerce and Industry.)</i></span></span></strong></p>
<p class="MsoNormal" style="margin-bottom: 0.0001pt; text-align: justify; line-height: normal;">
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			'description' => 'Gopal Sunder Lal Kakshapati is the newly elected President of Nepal-German Chamber of Commerce and Industry (NGCCI). Kakshapati, in an interview',
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			'content' => '<p class="MsoNormal">
	<span style="font-size:12.0pt;line-height:115%">By Anil Neupane</span></p>
<p class="MsoNormal">
	<span style="font-size:12.0pt;line-height:115%">&nbsp;</span></p>
<p class="MsoNormal">
	<span style="font-size:12.0pt;line-height:115%">Global business environment is changing rapidly with decentralization, smaller profit margin, need to react quickly to the changing market demands and increasing importance of service. In order to survive or improve in this aggressive environment, organizations tend to implement different approaches of Outsourcing, Business Intelligence (BI), Supply Chain Management (SCM) and Customer Relationship Management (CRM) systems. But despite these efforts, every organization does not succeed to meet the strategic goals. </span></p>
<p class="MsoNormal">
	<span style="font-size:12.0pt;line-height:115%">&nbsp;</span></p>
<p class="MsoNormal">
	<span style="font-size:12.0pt;line-height:115%">&nbsp; </span><strong><span style="font-size: 12pt; line-height: 115%;">Approaches used<br />
	</span></strong></p>
<p class="MsoNormal">
	<span style="font-size:12.0pt;line-height:115%">Traditionally outsourcing has been considered as the best approach for cost-saving. But this approach does not always support companies to meet their strategic outcomes. A survey conducted by Deloitte Consulting, among 25 of the world's largest organizations across eight sectors with extensive outsourcing experiences and multivendor relationships, revealed that 70% of participants identified cost savings</span><span style="font-size:12.0pt;line-height:115%;mso-ascii-font-family:
Calibri;mso-hansi-font-family:Calibri;mso-bidi-font-family:Calibri"> as the major driver of the outsourcing decision. However, opposing to th</span><span style="font-size:12.0pt;line-height:115%">e optimistic interpretation of outsourcing by vendors and the marketplace, they later realized that outsourcing is a complex process and the anticipated benefits often fail to materialize. Instead of simplifying operation, there may be complexities due to outsourcing.&nbsp;Also the costs may increase and the value chain may experience some friction requiring more senior management attention and deeper management skills than anticipated. However, outsourcing allows organizations to transfer financial and operational risk to vendors. But organizations are discovering that their contracts will never fully protect them against customer damage and business losses caused by service disruption. </span></p>
<p class="MsoNormal">
	<span style="font-size:12.0pt;line-height:115%">&nbsp; <br />
	</span></p>
<p class="MsoNormal">
	<span style="font-size:12.0pt;line-height:115%">Company should focus on outsourcing in its operational areas and handle their core areas on their own. By doing this outsourcing facilitates a company focus on its core business by having operations carried out by an external expert. Freed from devoting energy to areas that are not in its expertise, the company can focus its resources to meet its core customer needs.<br />
	<br />
	</span></p>
<p class="MsoNormal">
	<span style="font-size:12.0pt;line-height:115%">One of the major factors for a successful outsourcing is to have a clear strategic plan and vision. Moving along this path of clear plan and vision, a company can meet the strategic goals. As the survey report of Deloitte Consulting suggested, in order for meeting the strategic outcomes with minimal risks, companies should outsource only commodity functions to guard against a loss of knowledge instead of looking for differentiated growth solutions. As the report suggests, companies should avoid outsourcing solely on cost savings and should plan for short-term outsourcing to prevent vendor dependency. In the long run, organizations that continue to outsource will experience a loss of bargaining power to vendors as the supply side consolidates. <br />
	<br />
	<br />
	Those that apply strong skills in deal structuring, risk management and strong management skills to oversee deals from inception to execution will be best positioned to reap the benefits of outsourcing. Outsourcing will still remain a useful solution within the conservative context of five models: Centralize-Standardize-Outsource Transform-Operate-Transfer, Commodities Outsourcing, Risk Transfer (Insurance</span><span style="font-size:12.0pt;line-height:115%;mso-ascii-font-family:Calibri;
mso-hansi-font-family:Calibri;mso-bidi-font-family:Calibri">), and Shifting Fixed Costs to Variable Costs. In case of curr</span><span style="font-size:
12.0pt;line-height:115%">ent market situation, it has been found that outsourcing frequently fails to deliver its promise. In this case, it is suggested that the world’s largest companies should be able to replicate the vendor’s structural advantages in-house and rely on vendors only under specific circumstances. To meet the strategic outcomes from outsourcing, companies should move from an ad hoc outsourcing approach to a strategic multisourcing. </span></p>
<p class="MsoNormal">
	<strong><span style="font-size:12.0pt;line-height:115%"><br />
	</span></strong></p>
<p class="MsoNormal">
	<strong><span style="font-size:12.0pt;line-height:115%">Business Intelligence</span></strong></p>
<p class="MsoNormal">
	<span style="font-size:12.0pt;line-height:115%">Timely access to relevant information for right decision making has been critical for business success. However it has been very challenging for organizations to retrieve the right information from the huge amount of data collected as a result of diverse new data collecting technologies. Many companies have a gap between their strategy and operations as a failure to retrieve right information from their data. Unless they retrieve right information to realize this gap, it is not possible for them to come up with expected strategic outcomes. By providing right information at right time, business intelligence can help organizations to find out the gap between their strategy and operations following which they can change the strategy as per the operation or vice versa. Today’s business environment has frightening situation where 77% of managers do not have sufficient information and tend to make wrong decisions. Many companies strategies are found to be disconnected from the operations and decisions made at operations level are without context. This scary situation was depicted by a survey conducted by the Economist Intelligence Unit (EIU) which revealed that less than one in ten corporate executives believe they have the right information needed to make critical business decisions.&nbsp;No matter how promising the company strategy is, how can the right strategic outcome be met with this level of accessibility to right information for decision making? <br />
	<br />
	</span></p>
<p class="MsoNormal">
	<span style="font-size:12.0pt;line-height:115%">Mark Giles has emphasised on the Enterprise Data Warehouse (EDW) which, as he has defined, is a data warehouse concept that enables organizations create and operate a data warehouse in an enterprise-wide environment. Some of the major features of EDW are: a. Enable strategic analysis and operational reporting, b. Enable business to report real time, c. Integrate heterogeneous systems and d. facilitate the design time as well as runtime of business intelligence (BI) models and processes. In comparison to the traditional business intelligence systems which are accessible to some specific person such as manager, system analysts etc, EDW is something that is to be accessible to all levels of employees. Through this concept of information accessibility across the organizations, the employees at operational level can make right decisions to ensure the expected strategic outcome. Also since EDW facilitates the design and runtime of BI models and processes, organizations can simulate the processes earlier thereby reducing risks of failure which might happen in the real business scenario and support to meet expected strategic outcomes. </span></p>
<p>
	<span style="font-size:12.0pt;line-height:115%">&nbsp;</span></p>
<p class="MsoNormal">
	<strong><span style="font-size:12.0pt;line-height:115%">Supply Chain Management</span></strong></p>
<p class="MsoNormal">
	<strong><span style="font-size:12.0pt;line-height:115%">&nbsp;</span></strong></p>
<p class="MsoNormal">
	<span style="font-size:12.0pt;line-height:115%">In today’s rapid globalized business environment, companies have been highly dependent on outsourced manufacturing partners in order to reduce cost. However in addition to the reduction of the cost, the overall system has become very complex and therefore the importance of an effective supply chain management is increasing day by day. Unlike the earlier trends of producing goods on site, the goods are produced in remote areas and transported to other places for sales or reprocessing. </span></p>
<p>
	<span style="font-size:12.0pt;line-height:115%">&nbsp;</span></p>
<p class="MsoNormal">
	<span style="font-size:12.0pt;line-height:115%">The traditional approach of supply chain network does not match with the current speedy business environment and a new approach is needed to achieve expected strategic outcomes. Stefan Theis &amp; Howells have suggested adaptive supply chain </span><span style="font-size:12.0pt;line-height:115%;mso-ascii-font-family:
Calibri;mso-hansi-font-family:Calibri;mso-bidi-font-family:Calibri">as an effective supply chain network adapting a strategic approach to overcome the existing challenges in the supply chain network.</span><span style="font-size:
12.0pt;line-height:115%"> Because of globalization and outsourcing, the network-wide visibility and collaboration have become challenging. To overcome these challenges, he focuses on supply chain collaboration which consists of a. Understanding customer demand, b. Including suppliers in the network, c. Enabling visibility into outsourcing partners and d. Extending visibility to carriers . </span></p>
<p>
	<span style="font-size:12.0pt;line-height:115%">&nbsp;</span></p>
<p class="MsoNormal">
	<span style="font-size:12.0pt;line-height:115%">Tracking and Tracing</span><span style="font-size:12.0pt;line-height:115%;mso-ascii-font-family:
Calibri;mso-hansi-font-family:Calibri;mso-bidi-font-family:Calibri"> is a key enabler to achieve adaptive supply chain network which in turn can enable visibility into and responsiv</span><span style="font-size:12.0pt;line-height:
115%">eness to all supply chain events. Enabling real-time demand visibility, collaboration, and analytics to manage and mitigate risk are the major objectives of adaptive supply chain which can in turn ensure meeting the strategic goals of the companies. It is essential to have right supply chain strategy to come up with right strategic outcomes. For instance, strategies like Supply-to-stock and Supply-to-order. If supply-to-stock strategy is applied for products that are meant to be supply-to-order, then the possibility of right strategic outcome is very low.&nbsp;The technology plays crucial role for business partners integration. For instance, business intelligence systems can play a vital role to analyze the trends of customers needs and plan accordingly. It is essential for companies with strategic fit, i.e. both supply chain and competitive strategy have higher likelihood of having expected strategic outcome from their strategy. To achieve this strategic fit, some of the requisites he has suggested are: a. Understanding the customer, b. Understanding supply chain tradeoffs and c. Matching supply chain responsiveness with the implied demand uncertainty. With this combination of right strategy, strategy fit with strong support of technology at the back end can ensure organizations meet their strategic outcomes. </span></p>
<p>
	<span style="font-size:12.0pt;line-height:115%">&nbsp;</span></p>
<p class="MsoNormal">
	<strong><span style="font-size:12.0pt;line-height:115%">Customer Relationship Management</span></strong></p>
<p class="MsoNormal">
	<strong><span style="font-size:12.0pt;line-height:115%">&nbsp;</span></strong></p>
<p class="MsoNormal">
	<span style="font-size:12.0pt;line-height:115%">There have been numerous failures of implementing effective CRM systems. Companies should have strategic procedures to achieve strategic outcomes from their CRM systems. Properties of an effective CRM system which highly ensure the strategic outcome are:&nbsp;a. Simplicity drives adoption and productivity, b. Flexibility provides choice and adaptability and c. Comprehensive breadth of capabilities and innovation. </span></p>
<p>
	<span style="font-size:12.0pt;line-height:115%">&nbsp;</span></p>
<p class="MsoNormal">
	<span style="font-size:12.0pt;line-height:115%">There are numerous challenges to meet strategic goals through traditional CRM systems due to their inability to support high complexity of today’s global business environment. To get expected strategic outcomes from CRM systems, companies should focus on standardizing their sales processes, integrating their data and be flexible and responsive to their environment. Properly implemented and maintained CRM systems can help organizations meet their strategic goals by reducing or avoiding cost, increasing productivity and retaining higher customer satisfaction. A customer centric CRM system gives a full view of customers to help companies improve their efficiency thereby coming up with better customer service. For multinational companies, different complexities such as different processes in the subsidiary’s region, lack of integration in many processes and multiple CRM instances can further hinder the achievement of their strategic goals. Companies can overcome these complexities and meet their strategic goals with right implementation of the CRM systems by forming a globally consistent process, integrating processes across sales, marketing, contact centers and partners and by having single logical instance of multiple systems. </span></p>
<p>
	<span style="font-size:12.0pt;line-height:115%">&nbsp;</span></p>
<p class="MsoNormal">
	<strong><span style="font-size:12.0pt;line-height:115%">2+2 not necessarily 4</span></strong></p>
<p class="MsoNormal">
	<strong><span style="font-size:12.0pt;line-height:115%">&nbsp;</span></strong></p>
<p class="MsoNormal">
	<span style="font-size:12.0pt;line-height:115%">The four business areas, Outsourcing, Business Intelligence, Supply Chain Management, and Customer Relationship Management are very crucial for organizations to meet their strategic goals. However, these business areas by themselves do not assure the achievement of business strategic goals unless they are properly implemented. Though these business areas have their distinctive contribution to achieve the organizational strategic goals, they are not in fact independent of each other. These are closely interlinked with each other and proper coordination of these facets can actually result in meeting strategic goals efficiently. For this, an efficient or a combination of few ERP systems with all these functionalities can be deployed to support business processes and help meet the organizational strategic goals. After implementation, it is equally important to review these systems in context of changing business environment to ensure the system is as per the market need. </span></p>
<p>
	 </p>
<p>
	<strong><span style="font-size:12.0pt;line-height:115%">(Neupane is a SAP global certified consultant currently working in London. He can be reached at neupane_anil@hotmail.com)</span><br />
	</strong></p>
<p class="MsoNormal">
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<p class="ANSWER" style="text-align: justify;">
	<span class="MyriadPro"><span calibri="" lang="EN-GB" letter-spacing:="" sans-serif="">Sujit Mundul, CEO and Director, Standard Chartered Bank (SCB) Nepal, started his career as a lecturer in Organic Chemistry but switched over to banking as he joined SCB as a junior officer in the seventies. Mundul moved on through various relationship roles in Corporate/Institutional Banking including Credit and Audit functions.&nbsp; He also worked in SCB - London in Credit Management for about a year on secondment. He became Head - Corporate Banking, South India and Regional Head - Sales, for Eastern India before joining SCB Nepal as the CEO and Director. Mundul spoke to <i>Nubiz</i> on a wide range of issues on banking and finance. Excerpts:</span></span></p>
<p class="ANSWER" style="text-align: justify;">
	 </p>
<p class="questionsforinterview" style="text-align: justify;">
	<span style="font-size:12px;"><strong><span class="MyriadPro"><span lang="EN-GB" style="letter-spacing: 0pt;">You have substantially increased the interest on savings, from 2-5% a few years back to 6.5% now. Is there still cash crunch? <br />
	</span></span></strong></span></p>
<p class="ANSWER" style="text-align: justify;">
	<span style="font-size:12px;"><span class="MyriadPro">To answer this question, we need to set the perspective right why SCB Nepal has increased its interest rate. Till one year back, the market never experienced that kind of interest rate because of many reasons. One of the major reasons is that remittance was less. That is coming in abundance now. But for good reason or bad, the market started feeling the tightness. As a result, some stress in liquidity was felt. To be very honest, SCB Nepal never faced a liquidity strain, we have always been adequately liquid.&nbsp; In fact, we had been the lenders in the inter-bank throughout the crisis period. Now, in order to build the deposit base, we decided to increase our interest rates because the market dynamics have changed. The market has slightly shifted gears from low to high interest rate environment. As we are also one of the key players in the market, we need to keep up with the market rates. That's the reason why we have increased the interest rate. Though the increase in interest rate is not that significant; we have already started seeing good positive response from the market.</span></span></p>
<p class="ANSWER" style="text-align: justify;">
	<span style="font-size:12px;"><span><span class="MyriadPro"><br />
	</span></span></span></p>
<p class="questionsforinterview">
	<span style="font-size:12px;"><strong><span class="MyriadPro"><span lang="EN-GB" style="letter-spacing: 0pt;">SCB Nepal is known for quality banking. But competition actually has become tough. How do you view the growth of Nepali financial sector?</span></span></strong></span></p>
<p class="ANSWER" style="text-align: justify;">
	<span style="font-size:12px;"><span class="MyriadPro"><span style="letter-spacing: 0.1pt;">It is a difficult market now. The market of Nepal has become overcrowded. It cannot accommodate so many players; that's why, the competition is a bit uneven. Customers or the depositors would love to see that wherever they put their money it should remain safe and they should get high quality service. The depositors are becoming much wiser compared to what they used to be few years back. They read papers, they also follow the economy and they can make their own judgments. That is why there is the competition and, I believe, we have been able to tackle the competition successfully.</span></span><strong><br />
	<span class="MyriadPro"> </span></strong></span></p>
<p class="ANSWER" style="text-align: justify;">
	<span style="font-size:12px;"><strong><span><span class="MyriadPro"><br />
	</span></span></strong></span></p>
<p class="questionsforinterview" style="text-align: justify;">
	<span style="font-size:12px;"><strong><span class="MyriadPro"><span lang="EN-GB" style="letter-spacing: 0pt;">You are of the few banks that also offer insurance products. How do these two products work along?</span></span></strong></span></p>
<p class="ANSWER" style="text-align: justify;">
	<span style="font-size:12px;"><span class="MyriadPro">e do not have insurance products of our own but we are co-branded with insurance. We call it bancassurance. It is very complementary with banking services. Basically, it could be used for retail banking sector. It can go very well with mortgage products. Similarly, it can go with other lending products. And it is used as one of the major products in wealth management. So we use it as a part of wealth management package. The corporate sector has also been covered by insurance. Instead of going to an ordinary agent, they can come to the bank to get their assets insured. So, these products are actually complimentary to each other.</span></span></p>
<p class="ANSWER" style="text-align: justify;">
	<span style="font-size:12px;"><span><span class="MyriadPro"><br />
	</span></span></span></p>
<p class="questionsforinterview" style="text-align: justify;">
	<span style="font-size:12px;"><strong><span class="MyriadPro"><span lang="EN-GB" style="letter-spacing: 0pt;">Securities Exchange Board of Nepal (SEBON) has recently got the Mutual Fund Regulations ratified. Your bank had shown some interest in this business in the past. How is the plan now?</span></span></strong></span></p>
<p class="ANSWER" style="text-align: justify;">
	<span style="font-size:12px;"><span class="MyriadPro"><span style="letter-spacing: 0.1pt;">To run a successful mutual fund, you need to have volume. I don't think Nepali market has yet got that volume. It will take maybe a few years to create that. For a successful mutual fund, we need to see also to the stock market. Is it equipped to handle the flow? Nepal is working with India to equip the Nepali stock market with some modern tools such as Central Depository System (CDS). Mutual Fund would be very helpful to make this market more perfect. It will not then be driven by the brokers; it will be driven by the market on its own forces. The investors can come and directly play in the market. <br />
	</span></span></span></p>
<p class="ANSWER" style="text-align: justify;">
	<span style="font-size:12px;"><span class="MyriadPro">We have a mutual fund in India under Standard Chartered. So we have the experience and I don't think there will be a problem in terms of experience or expertise.&nbsp; But we need to actually have that volume.</span></span></p>
<p class="ANSWER" style="text-align: justify;">
	<span style="font-size:12px;"><span><span class="MyriadPro"><br />
	</span></span></span></p>
<p class="questionsforinterview" style="text-align: justify;">
	<span style="font-size:12px;"><strong><span class="MyriadPro"><span lang="EN-GB" style="letter-spacing: 0pt;">How do you evaluate the current financial system of Nepal? Is it heading towards robustness?</span></span></strong></span></p>
<p class="ANSWER" style="text-align: justify;">
	<span style="font-size:12px;"><span class="MyriadPro">It is going through transformation I can say. At this stage, it is difficult to say whether it is robust or stagnant but I think the transformation is happening in the right direction. But it takes time; there are a lot of things that need to be corrected. Fundamental corrections are required. The only point here is that there are too many players so this market would definitely require consolidation. But I don't know when the momentum will come in terms of consolidation.&nbsp;</span></span></p>
<p class="ANSWER" style="text-align: justify;">
	<span style="font-size:12px;"><span><span class="MyriadPro"><br />
	</span></span></span></p>
<p class="questionsforinterview" style="text-align: justify;">
	<span style="font-size:12px;"><strong><span class="MyriadPro"><span lang="EN-GB" style="letter-spacing: 0pt;">Many banks are now trying to form a subsidiary to channel the mandatory deprived-sector lending. Do you subscribe the idea? Any plan from SCBNL along this line?</span></span></strong></span></p>
<p class="ANSWER" style="text-align: justify;">
	<span style="font-size:12px;"><span class="MyriadPro">We do not have any plan at this moment and I can't comment about other banks. However, I can tell you that this deprived-sector lending (micro finance) is definitely SCB Groups major focus area globally. And also here we are working on that.</span></span></p>
<p class="ANSWER" style="text-align: justify;">
	<span style="font-size:12px;"><span><span class="MyriadPro"><br />
	</span></span></span></p>
<p class="ANSWER" style="text-align: justify;">
	<span style="font-size:12px;"><strong><span class="MyriadPro"><span lang="EN-GB">What do you suggest to improve the financial services market in Nepal?</span></span></strong></span></p>
<p class="ANSWER" style="text-align: justify;">
	<span style="font-size:12px;"><span class="MyriadPro">The problem is uneven competition. There are many things that need to be done to make the market stronger. Firstly, we need to have tighter corporate governance; there is enough room for improvement. It is not only the regulator's responsibility; it is the responsibility of the individual players to ensure that a robust governance framework is in place. Secondly, this market needs more reforms in the sense of widening of the market and more integration with the international market. I think players should be allowed to directly interact with the international market. Thirdly, I would love to see a universally acceptable risk management model which would compensate the short-term losses caused by fundamental imbalances in the long term. Fourth, it is necessary to develop the capital market of Nepal. It helps in the long-term management of liquidity and also makes resources available to people to make short-term investments in the productive sector.</span></span></p>
<p class="ANSWER" style="text-align: justify;">
	<span style="font-size:12px;"><span><span class="MyriadPro"><br />
	</span></span></span></p>
<p class="questionsforinterview" style="text-align: justify;">
	<span style="font-size:12px;"><strong><span class="MyriadPro"><span lang="EN-GB" style="letter-spacing: 0pt;">What are the challenges and problems faced by your bank in particular and by the overall banking sector in general?</span></span></strong></span></p>
<p class="ANSWER" style="text-align: justify;">
	<span style="font-size:12px;"><span class="MyriadPro"><span style="letter-spacing: 0.2pt;">As far as our bank is concerned, we visualize the plans for next seven to ten years. I think we are well equipped to handle the challenges when they come. During crisis, we set up a very good example in the market as the only bank that lent to the market. That shows how careful we are. Our portfolio is very carefully managed. We run cautiously, we don't want to block our books and then suffer. There is problem now in the sense that the productive sector needs more credit but a lot of money is stuck in the real estate sector.</span></span><strong><br />
	<span class="MyriadPro"> </span></strong></span></p>
<p class="ANSWER" style="text-align: justify;">
	<span style="font-size:12px;"><strong><span><span class="MyriadPro"><br />
	</span></span></strong></span></p>
<p class="questionsforinterview" style="text-align: justify;">
	<span style="font-size:12px;"><strong><span class="MyriadPro"><span lang="EN-GB" style="letter-spacing: 0pt;">What is your future mission and vision for Nepal?</span></span></strong></span></p>
<p class="ANSWER" style="text-align: justify;">
	<span style="font-size:12px;"><span class="MyriadPro">We are long-term players and we would continue to be here. We'll be expanding our ventures. We have in mind some acquisition also, when the time is right. That's not completely out of the window.&nbsp; It's very much part of the game plan. <br />
	</span></span></p>
<p class="ANSWER" style="text-align: justify;">
	<span style="font-size:12px;"><span><span class="MyriadPro"><br />
	</span></span></span></p>
<p class="questionsforinterview" style="text-align: justify;">
	<span style="font-size:12px;"><strong><span class="MyriadPro"><span lang="EN-GB" style="letter-spacing: 0pt;">It is said that in Nepal, merger and acquisition will remain only in talks not in practice. What do you say?</span></span></strong></span></p>
<p class="ANSWER" style="text-align: justify;">
	<span style="font-size:12px;"><span class="MyriadPro">Unless foreign players and foreign direct investment flow into Nepal, I don't see any possibility of merger and acquisition. Its pre-requirements are political stability and supplementing policies. It is not only the matter of tax. No investor would like to buy problem paying money. Therefore, there must be a suitable labour policy in Nepal. I don't mean the facility of hire and fire. It means keeping human resource in right size and mobilizing it. After meeting all these requirements, I think we can then talk about merger and acquisition. <br />
	<br />
	</span></span></p>
<p class="ANSWER" style="text-align: justify;">
	<span style="font-size:12px;"><strong><span class="MyriadPro"><span lang="EN-GB" style="letter-spacing: 0pt;">What are your bank's recent activities on Corporate Social Responsibility?<br />
	<br />
	</span></span></strong><span class="MyriadPro"><span style="letter-spacing: 0.2pt;">We continue to focus on accseeing is believing keeping avoidable blindness in the centre point. We are very much into helping the poor schools inside and outside the valley by providing computers and creating computer laboratory and also by providing scholarships. We have helped few deserving schools in uplifting their infrastructural facilities. We are very much into the HIV-AIDS awareness and environment protection programs. As a part of our ongoing agenda, we are planting trees to maintain greenery around and are also looking at reducing the carbon requirement of our own uses. </span></span><span style="font-family: Wingdings; color: rgb(237, 28, 36); letter-spacing: 0.15pt;">&nbsp;</span></span></p>
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	<strong><span style="font-size:12px;"><span color:="" franklin="" gothic="" style="line-height: 115%;"><br />
	BRIGHT ECONOMIC FUTURE OF NEPAL</span></span></strong></p>
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	<strong><span style="font-size:12px;"><i><span color:="" letter-spacing:="" lucida="" style="line-height: 120%;">By Janardan Dev Pant<br />
	<br />
	</span></i></span></strong></p>
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	<span style="font-size:12px;"><b><span aldine401="" color:="" letter-spacing:="">N</span></b><span aldine401="" color:="" letter-spacing:="">epal's political parties and policymakers are making financial mistakes that have left the people in poverty, serious financial stress and feeling of helplessness. Nepal is experiencing immense challenges in transforming its social and business environment. Such transformation requires departure from outdated modes of providing dogmatic directions.&nbsp; Everybody is suggesting that the need of the hour is good governance, awareness about and understanding of global and national economic business environment, strategic thinking and choices, formulation and implementation of proper policies, effective communication, digitization, and management of available human talent.&nbsp; These all require an overall understanding of the fast paced changes of both the external and internal environment.</span></span></p>
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	<span style="font-size:12px;"><span aldine401="" color:="" letter-spacing:="">&nbsp;</span></span></p>
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	<span style="font-size:12px;"><span aldine401="" color:="" letter-spacing:="">We have achieved lots of good things.&nbsp; We have produced world class engineers, doctors, lawyers and bankers by liberalizing education, telecommunications and banking. Majority of them are working in the USA, Canada, UK and Australia due to the absence of right environment in Nepal. Due to this migration of talent, all the achievement made in the education sector has been useless in raising the living standards of 85 per cent Nepalis.&nbsp; Common people are undergoing extreme socio-economic hardships without hope of any immediate relief.&nbsp; This situation must not be allowed to continue.&nbsp; </span></span></p>
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	<span style="font-size:12px;"><span aldine401="" color:="" letter-spacing:="">&nbsp;</span></span></p>
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	<span style="font-size:12px;"><span aldine401="" color:="" letter-spacing:="">Nepal's market-oriented reform started in 1991 implied that those who lack the purchasing power will be marginalised.&nbsp; People without money are as good as non-existent in the sort of market economy prevailing today.&nbsp; It is the state's responsibility to take care of such citizens.&nbsp; Failure to take care of such Nepalis, who are about 85 per cent of the country's population, is the key failure of Nepal's economic liberalization.The main reason behind this failure is our inability to use our existing resources properly. That is what is forcing us to live in poverty, serious financial stress and feeling of helplessness.&nbsp; </span></span></p>
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	<span style="font-size:12px;"><span aldine401="" color:="" letter-spacing:="">&nbsp;</span></span></p>
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	<span style="font-size:12px;"><span aldine401="" color:="" letter-spacing:="">This article is about a proposal to get out of this mess and achieve growth through the use of hydropower. </span></span></p>
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	<span style="font-size:12px;"><span aldine401="" color:="" letter-spacing:="">&nbsp;</span></span></p>
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	<strong><span style="font-size: 12px;"><span color:="" franklin="" gothic="" letter-spacing:="">Setting the Goal<br />
	<br />
	</span></span></strong></p>
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	<span style="font-size:12px;"><span aldine401="" color:="" letter-spacing:="">The first step in embarking on a journey is to set a goal. Let's set the goal as:&nbsp; Nepal's per capita income US$ 2,500 by 2017 and US$ 50,000 by 2040.&nbsp; This goal is specific, measurable, achievable, realistic and time bound.&nbsp; With this goal in mind, I would like to draw a number of policy prescriptions to achieve this goal. These policies can promote investment, create jobs and wealth, and consumer spending which will give us double digit growth and eradicates poverty so that Nepal will be transformed from least developed county to developed country by 2040.</span></span></p>
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	 </p>
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	<strong><span style="font-size:12px;"><span aldine401="" color:="" letter-spacing:="">&nbsp;</span></span></strong></p>
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	<strong><span style="font-size: 12px;"><span color:="" franklin="" gothic="" letter-spacing:="">Bench Mark<br />
	<br />
	</span></span></strong></p>
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	<span style="font-size:12px;"><span aldine401="" color:="" letter-spacing:="">We must benchmark with our comparator countries to achieve best practices and gain efficiencies.&nbsp; Our core competencies are hydropower and tourism.&nbsp; The comparator countries in this respect are Bhutan and Laos. They too are landlocked, have mountainous terrain and plentiful water resources.&nbsp; But they have succeeded to produce and export large volume of hydroelectricity to their neighbors.&nbsp; We can learn many things from 1070 MW Nam Theun Hydropower Project of Laos and 1020 MW Tala Hydroelectric Project of Bhutan. We have to learn from them and achieve the above stated goal. But we have to revise and refine those models to suit our specific environment.&nbsp; For example, they are exporting power whereas we have market for power within the country itself. <br />
	<br />
	</span></span></p>
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	<span style="font-size:12px;"><span aldine401="" color:="" letter-spacing:="">Supply creates its own demand, said the famous economist JB Say.&nbsp; He is perfectly right in his statement, at least in Nepal where the pent up demand for electricity is huge. If we start construction of various hydroelectricity projects immediately as per our model, our per capita income will reach around US $50,000 by 2040 with double digit economic growth every year.&nbsp; By that time our rate of per person electricity use will reach around 150 times from today's 70 units per head.&nbsp; As we are going to consume here in Nepal all the electric power that we are going to produce, the policy of exporting power must be stopped immediately.&nbsp; Power exporting policy will hold back our fast track economic growth.&nbsp;&nbsp;&nbsp; </span></span></p>
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	 </p>
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	<strong><span style="font-size:12px;"><span aldine401="" color:="" letter-spacing:="">&nbsp;&nbsp;&nbsp; </span></span></strong></p>
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	<strong><span style="font-size: 12px;"><span color:="" franklin="" gothic="" letter-spacing:="">Liberalizing Hydropower</span></span></strong></p>
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	 </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 aldine401="" color:="" letter-spacing:="">This is the time that the government needs to think about liberalizing hydropower sector, just like it liberalized banking, telecommunications and education which unleashed the banking, communication and education revolution.&nbsp; We have to rehabilitate to Nepal Electricity Authority (NEA) to match our development strategy because NEA is already a sick unit.&nbsp; We are experiencing a severe energy crisis. We are already without electricity 14 hours a day and this duration is getting longer. But with the hydropower potential we have, it does not have to be that way. Presently, peak power demand of integrated Nepal power system is around 967 MW and power supply is around 400 MW.&nbsp; The deficit can be met easily with a few projects. <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 aldine401="" color:="" letter-spacing:="">&nbsp;But the existing power purchase rates make the power projects commercially unfeasible due to high rates of interest that the banks are charging.&nbsp; Therefore, it is suggested that the power purchase rates be revised upward, immediately.&nbsp; When the market interest rates rises further, the power purchase rates should be raised accordingly. Similarly, when the interest rate cools down, the power purchase rates should be lowered accordingly. </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 aldine401="" color:="" letter-spacing:="">&nbsp;</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 aldine401="" color:="" letter-spacing:=""><br />
	</span></span></p>
<p class="MsoNormal" style="margin: 11pt 0in 0.0001pt; vertical-align: middle;">
	<strong><span style="font-size: 12px;"><span color:="" franklin="" gothic="" letter-spacing:="">Cost of Hydropower<br />
	<br />
	</span></span></strong></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 aldine401="" color:="" letter-spacing:="">The cost of hydropower is highly site specific, and depends on different factors, including hydrologic characteristics, site accessibility, and distance from transmission line.&nbsp;&nbsp; However, hydropower is the cheapest way to generate electricity in Nepal. The 456 MW Upper Tamakoshi hydropower project is estimated to cost Rs 35.29 billion, if the project is completed by FY 2014-15 as scheduled.&nbsp; That means it costs about Rs 77.39 million per MW.&nbsp; On that basis, we can say, at today's rate, a typical hydropower project in Nepal can cost somewhere between Rs 80 million and Rs 150 million per installed MW.&nbsp;&nbsp;&nbsp; </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 aldine401="" color:="" letter-spacing:="">&nbsp; </span></span></p>
<p class="MsoNormal" style="margin: 11pt 0in 0.0001pt; vertical-align: middle;">
	<strong><span style="font-size:12px;"><span color:="" franklin="" gothic="" letter-spacing:="">Means of Financing<br />
	<br />
	</span></span></strong></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 aldine401="" color:="" letter-spacing:="">One major obstacle often cited in Nepal's hydropower development is the lack of finance. But in reality, it is no big deal for us to raise the money.&nbsp; The project can be financed through a mix of debt and equity arranged through a public-private partnership.&nbsp; The people of Nepal can arrange the resources on their own to produce at least 2,360 MW of electricity if the leaders extend some help.&nbsp; <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 aldine401="" color:="" letter-spacing:="">First of all, Nepal Government has to create Nepal Development Company Limited (NDCL) as a sovereign wealth fund holding company.&nbsp; Then the government should sell 40 per cent shares it holds in the Nepal Telecommunication Company Ltd (NTC). This will yield around Rs 24 billion and that amount should be invested as the seed money of NDCL.&nbsp; With this money, NDCL can promote many subsidiary public limited companies in the same manner as Nepal Electricity Authority has promoted Chilime Hydropower Company Limited.&nbsp; The equity participation in these subsidiaries is proposed at 51% from NDCL, 25% from national or international strategic partner, 24% from the general public.&nbsp; Subsidiaries should be managed by the strategic partners so as to ensure efficiency and customer satisfaction.&nbsp; NDCL can also promote East-West Electric Railway Ltd and many North-South cable car companies in similar modality of raising the fund. <br />
	<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 aldine401="" color:="" letter-spacing:="">&nbsp;Nepal Telecom has been seeking strategic partner as it is losing 10 per cent of its profit growth every four months to the private telecom service providers.&nbsp; Nepal Telecom on its second annual general meeting held on March 29, 2010 has passed a resolution to sell minority shares to international telecommunications operator.&nbsp; But nothing has been done on this line till now. People believe that this delay is due to financial influence of other telecom service providers on our political leaders and government authorities.&nbsp; Further, it is also widely believed that if Nepal Telecom cannot bring foreign telecommunications operator through bidding as a strategic partner, Nepal Telecom too will face the same fate as that of Janakpur Cigarette Factory and Nepal Airlines Corporation.&nbsp; <br />
	<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 aldine401="" color:="" letter-spacing:="">The paid-up capital of Nepal Telecom is Rs 15 billion, of which Nepal Government holds 91.50%.&nbsp;&nbsp; If the Government can sale 40% share in Nepal Telecom through international bidding, at the rate of minimum Rs 400 per share, the proceeds will be a minimum of Rs 24 billion.&nbsp; Assuming that this Rs 24 billion will be the 25% equity from NDCL's side, and that Rs 72 billion will be available as loan from various lenders, the total funds available will be Rs 96 billion.&nbsp; This will be sufficient to set up projects to generate hydroelectricity of 960 MW, assuming, on the basis of calculations above, that Rs 100 million will be required to install one MW capacity for hydroelectricity.&nbsp;&nbsp;&nbsp; </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 aldine401="" color:="" letter-spacing:="">&nbsp;</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 aldine401="" color:="" letter-spacing:="">Similarly, Nepal Army Welfare Fund has billions in its account.&nbsp; If it invests Rs 5 billion as equity in hydropower projects, it can get 75% of the project as loan and the total available amount will be Rs 20 billion.&nbsp; This amount is sufficient to install 200 MW capacity of hydroelectricity on the same assumptions as above.Then is the Employees Provident Fund. It is no big deal for this institution to invest Rs 10 billion as equity for hydropower generation. That will attract loans to make the total fund of Rs 40 billion.&nbsp; This is sufficient for installing a generation capacity of 400 MW.&nbsp;&nbsp; <br />
	<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 aldine401="" color:="" letter-spacing:="">Then, we can easily assume that 100,000 Nepali citizens will come forward to invest Rs 200,000 per person. That will generate a total equity amount of Rs 20 billion which will attract a loan so that the total amount will be Rs 80 billion.&nbsp; From this amount, we can install a capacity of R 800 MW. The equity can be raised by issuing preferred redeemable increased dividend equity shares (PRIDES) to the general people.&nbsp; PRIDES, according to Investopedia, are securities consisting of a forward contract to purchase the issue's underlying security and an interest bearing deposit.&nbsp; Interest payments are made at regular intervals, and conversion into the underlying security is mandatory at maturity.&nbsp; PRIDES allow investors to earn stable cash flows while still participating in the capital gains of an underline stock.&nbsp; This is possible because these products are valued along the same lines as the underlying security. <br />
	<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 aldine401="" color:="" letter-spacing:="">Micro-finance institutions, Banks and Co-operatives can give loans to purchase these PRIDES issued by NDCL or its subsidiaries to the Nepalis who have low or no income. Such loan can be issued against the collateral of PRIDES.&nbsp; This will bring positive impact on distribution of benefits from national resources to the low income people.&nbsp; This will ensure that the economic development does not marginalize the poor. <br />
	<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 aldine401="" color:="" letter-spacing:="">We can get loan from various financial institutions located in Nepal, China, India or global institutions such as Agence Francaise de Development, European Investment Bank, Nordic Investment Bank etc. China's foreign exchange reserves have reached US$ 2.4 trillion making it by far the largest holder of foreign exchange reserve in the world. China was holding US$ 906 billion in US treasury bonds as of October, 2010.&nbsp; We should request China to invest some of that amount in Nepal's infrastructure development, such as hydropower. They should agree because the return will be higher in our projects.</span></span></p>
<p class="MsoNormal" style="margin-bottom: 0.0001pt; text-align: justify; text-indent: 14.15pt; line-height: 11pt; vertical-align: middle;">
	 </p>
<p class="MsoNormal" style="margin-bottom: 0.0001pt; text-align: justify; text-indent: 14.15pt; line-height: 11pt; vertical-align: middle;">
	<strong><span style="font-size:12px;"><span aldine401="" color:="" letter-spacing:="">&nbsp;</span></span></strong></p>
<p class="MsoNormal" style="margin: 11pt 0in 0.0001pt; vertical-align: middle;">
	<strong><span style="font-size: 12px;"><span color:="" franklin="" gothic="" letter-spacing:="">Infrastructure-Transmission Line<br />
	<br />
	</span></span></strong></p>
<p class="MsoNormal" style="margin: 11pt 0in 0.0001pt; vertical-align: middle;">
	 </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 aldine401="" color:="" letter-spacing:="">Hydropower development depends on the power transmission to carry the power from the power project site to the consumer. On January 5, 2007 NEA signed an MOU to construct Butwal-Gorakhpur, Duhabi-Purnia, Dhalkebar-Mujaffarpur and Anarmani-Siligudi 220 KV transmission lines for power trade between Nepal and India. But if we have to develop Nepal's hydropower and consume this within Nepal, NEA has to start constructing East-West 400 KV, North-South 132 KV, and North-South 220 KV transmission lines along the corridors of North-South major rivers, where it is feasible.&nbsp; NEA will make profit from wheeling charges received from power producers.<br />
	<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 aldine401="" color:="" letter-spacing:="">These transmission lines are essential to solve the present problem of power deficit.&nbsp; No investor will be interested to invest in power project without transmission line. Therefore, for Nepal, transmission line construction is not an option but compulsion. If NEA is not able to construct these transmission lines, the private sector can be invited to do it under Build-Own-Operate-Transfer (BOOT) contracts.&nbsp; The private sector can be allowed to operate such transmission lines for 30 years after which it has to transfer ownership to the government-owned NDCL. <br />
	<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 aldine401="" color:="" letter-spacing:="">The responsibility to distribute electricity should be given to the local government units, such as the District Development Committees or Municipalities or to the proposed federal states.&nbsp; With this arrangement, the present problem of leakage of electricity will be stopped. At present, the electricity leakage is 26 per cent according to NEA.&nbsp; </span></span></p>
<p class="MsoNormal" style="margin-bottom: 0.0001pt; text-align: justify; text-indent: 14.15pt; line-height: 11pt; vertical-align: middle;">
	 </p>
<p class="MsoNormal" style="margin-bottom: 0.0001pt; text-align: justify; text-indent: 14.15pt; line-height: 11pt; vertical-align: middle;">
	<strong><span style="font-size:12px;"><span aldine401="" color:="" letter-spacing:=""><br />
	&nbsp;</span></span></strong></p>
<p class="MsoNormal" style="margin: 11pt 0in 0.0001pt; vertical-align: middle;">
	<strong><span style="font-size: 12px;"><span color:="" franklin="" gothic="" letter-spacing:="">Market<br />
	<br />
	</span></span></strong></p>
<p class="MsoNormal" style="margin: 11pt 0in 0.0001pt; vertical-align: middle;">
	 </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 aldine401="" color:="" letter-spacing:="">The concept of supply creates its own demand is applicable in our case.&nbsp; There is scope of exponential increase in the supply of electric power in Nepal because there is also a very high scope for exponential increase in the demand for electric power.&nbsp; The data provided in the Table-1 is a conservative estimate.&nbsp; This does not include major hydropower projects initiated by NEA and foreign investors. NDCL can immediately start Construction of electric railway system such as Mechi-Mahakali, Raxaul-Hetauda-Kulekhani-Kathmandu and Kathmandu valley metro system.&nbsp; The estimated construction cost is Rs 500,000 per meter for double track railway. It goes up to Rs 1,000,000 if tunnel construction is also required. </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 aldine401="" color:="" letter-spacing:="">&nbsp;</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 aldine401="" color:="" letter-spacing:="">NDCL can also immediately start construction of cable car system from various points of east-west electric railway up to the hilly and Himalayan region to the market centres and tourist attractions including various reservoirs to be created by hydro dams.&nbsp; </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 aldine401="" color:="" letter-spacing:="">&nbsp;</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 aldine401="" color:="" letter-spacing:="">Meanwhile, we can benefit from the fast growth in the economies of our two neighbours. We share our northern border (1415 kms) with China which is not only the most populous country in the world with 1.34 billion people, but also the worlds second largest economy after the United States.&nbsp; It is the world's fastest growing major economy, with average annual growth rates of 10% for the past 30 years.&nbsp;&nbsp; China's middle class population, that has an annual income of at least US$ 17,000, has now reached more than 100 million. China's per capita income (nominal) is US$ 4,283.&nbsp; Similarly, our southern neighbor India with which we share a common border of 1,850 Kms, is the second most populous country in the world with 1.2 billion people.&nbsp; India too is one of the fastest growing economies in the world and its per capita income (nominal) is US$ 1,124.&nbsp; </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 aldine401="" color:="" letter-spacing:="">&nbsp;</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 aldine401="" color:="" letter-spacing:="">If we can attract even one per cent of the population of our two neighboring countries as tourists in Nepal, that will give tremendous economic growth to our economy as well. That requires construction of various electric train lines, international airports, cable car systems and recreational centres. Development of hydropower will help in all these. For example, water can be used for creating recreational facilities. Most importantly, if Nepal has good infrastructure, its geographical location makes it very suitable to be international financial center.</span></span></p>
<p class="MsoNormal" style="margin-bottom: 0.0001pt; text-align: justify; text-indent: 14.15pt; line-height: 11pt; vertical-align: middle;">
	 </p>
<p class="MsoNormal" style="margin-bottom: 0.0001pt; text-align: justify; text-indent: 14.15pt; line-height: 11pt; vertical-align: middle;">
	<strong><span style="font-size:12px;"><span aldine401="" color:="" letter-spacing:="">&nbsp;</span></span></strong></p>
<p class="MsoNormal" style="margin: 11pt 0in 0.0001pt; vertical-align: middle;">
	<strong><span style="font-size: 12px;"><span color:="" franklin="" gothic="" letter-spacing:="">Determined Government<br />
	<br />
	</span></span></strong></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 aldine401="" color:="" letter-spacing:="">One frequently cited problem in Nepal's development and investment is the political uncertainty. However, there are examples, such as Singapore, China and South Korea, that a determined government can build an advanced country from scratch in a short period of time. That means our politicians have to start learning.<br />
	<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 aldine401="" color:="" letter-spacing:="">Presently, our leaders or political parties are focused on the 301-game trying to make sure that they have 301 members of the Constituent Assembly on their side at any cost. That has to change. Over the past 35 years, we have seen rapid pace of technological change in our physical environment.&nbsp; Innovations such as cellular telephones, laser surgery, computers, electronic banking and new electronic trading techniques have materially affected the way people live.&nbsp; These technologies are easily transferable.&nbsp; Our politicians should keep themselves aware about these technological changes.&nbsp; That is required because the politicians should be able to optimize the use of the country's resources, promote excellence in the delivery of services and enhance competitiveness in line with our strategic visions, by keeping economic policy, institutions and bureaucracy above politics.<br />
	<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 aldine401="" color:="" letter-spacing:="">&nbsp;Politicians should be given growth challenges in numerical terms.&nbsp; They must be given a target such as 12.3 percent growth rate per annum in our gross domestic product (GDP).&nbsp; Why 12.3 per cent? Our population growth rate is 2.3 per cent per annum.&nbsp; So, we need 2.3 per cent annual rate of GDP growth to take care of population increase. Another 5 percent growth rate is required to provide increased standard of living to the people, and another 5 percent is needed to provide increased momentum in the subsequent years.&nbsp; It is an achievable target and this must be the duty of the Prime Minister to achieve this. It makes no sense to continue hiring the Chief Executive Officer of the country without giving him or her a target to achieve. <br />
	<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 aldine401="" color:="" letter-spacing:="">&nbsp;The type of economic growth that we will achieve with this model will not only eradicate poverty from Nepal in a short period of time, but will lift the country to the group of developed countries by 2040.&nbsp; </span></span></p>
<p class="MsoNormal" style="margin-bottom: 0.0001pt; text-align: justify; text-indent: 14.15pt; line-height: 11pt; vertical-align: middle;">
	 </p>
<p class="MsoNormal" style="margin-bottom: 0.0001pt; text-align: justify; text-indent: 14.15pt; line-height: 11pt; vertical-align: middle;">
	<strong><span style="font-size:12px;"><span aldine401="" color:="" letter-spacing:="">&nbsp;</span></span></strong></p>
<p class="MsoNormal">
	<strong><span style="font-size: 12px;"><span aldine401="" color:="" letter-spacing:="" style="line-height: 115%;">&nbsp;<i>(Pant is Director of Nepal Investment Bank Ltd and Chairman of Quantum Capital Ltd.&nbsp; He can be contacted at janardanpant@gmail.com)</i></span></span></strong></p>
<p class="MsoNormal">
	 </p>
<p class="MsoNormal">
	<strong><br />
	</strong></p>
<p class="MsoNormal">
	<span style="font-size:12px;"><span aldine401="" color:="" letter-spacing:="" style="line-height: 115%;"><i><br />
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	<span style="color: rgb(255, 140, 0);"><strong><i><span style="font-size: 8pt; line-height: 120%; font-family: &quot;Lucida Bright&quot;,&quot;serif&quot;; letter-spacing: -0.15pt;">By Dr Rabindra Karna</span></i></strong></span></p>
<p class="BODYTEXT" style="text-indent: 0in; text-align: justify;">
	<span style="font-size: 16px;"><b><span style="letter-spacing: 0.25pt;">T</span></b></span><span style="letter-spacing: 0.25pt;">o know the role of Performance Management, itâ€™s essential to agree on the objective of management. If we collate different views of different management scientists, we can come to a consensus that the objective of management is: to achieve the intended business destination through effective, efficient and economic utilization of people, material, time, information and fund.â€ <br />
	</span></p>
<p class="BODYTEXT" style="text-align: justify;">
	It covers all four key elements â€“ job improvement, skills enhancement, task management and internal relationship. It is through the combination of these that achievement of intended destination is ensured. Thus to manage a business effectively, there must be a close link between the work planning, proceeding and review procedure because factors affecting business and people performance interact on each other. </p>
<p class="BODYTEXT" style="text-align: justify;">
	The management needs to institutionalize and demonstrate latest management techniques, approaches/principles and philosophies to synergize cumulative human endeavour. This can be achieved only through a dynamic change agent driving the change process embodying these qualities for common growth and actualization of the organisationâ€™s potentials. </p>
<p class="BODYTEXT" style="text-align: justify;">
	In the total management philosophies, there has been unanimous alignment about people resources and it is all agreed that without proper people organization blocks, it would not only be difficult but impossible to eye on any intended achievement without people engagement. Scientific management theory describes 5 key block builders of Human Organization:</p>
<p class="bullet">
	1.<span style="">&nbsp;&nbsp;&nbsp;&nbsp; </span>Work Cycle: Assignments should be specialized and set to smallest possible work cycle.</p>
<p class="bullet">
	2.<span style="">&nbsp;&nbsp;&nbsp; </span>Process: Same process be used whilst performing same task in repetition</p>
<p class="bullet">
	3.<span style="">&nbsp;&nbsp;&nbsp; </span>Leadership: Effective leadership should be demonstrated in decision making</p>
<p class="bullet">
	4.<span style="">&nbsp;&nbsp;&nbsp; </span>Uniformity: In view of equity and consistency, policies must be uniform<span style=""> </span>across the business.</p>
<p class="bullet">
	5.<span style="">&nbsp;&nbsp;&nbsp; </span>Exclusivity: Duplication of functions is widely discouraged and thus assignment exclusivity becomes a must in view of task ownership.<span style="">&nbsp;&nbsp;&nbsp;</span> </p>
<p class="BODYTEXT" style="text-align: justify;">
	<span style="letter-spacing: 0.15pt;">With the understanding that the people are important, itâ€™s obvious that we need to relate our efforts to achieve with the social perception within organization.<span style="">&nbsp; </span>Itâ€™s obvious that social behavior is learnt in the form of acceptability within a work environment and we continue to learn and adapt through comparing one another.<span style="">&nbsp; </span>Being social animals, the humans make comprehensive arrangements for living and performing with one another and managing the environment. We could perceive most social situations as a negotiation, an interview, a presentation/workshop, an attempt to leadership, etc. Organizations or their people recognise the existence of a problem when they perceive that their goals are inconsistent with one another or when discrepancies between want/desire and expectations are experienced. <br />
	</span></p>
<p class="BODYTEXT" style="text-align: justify;">
	However, to have consistency in business results as well as in peopleâ€™s productivity and social acknowledgement, we need to pay special attention to Performance Management and that requires serious attention to meet expectations or achieve desired results. </p>
<p class="BODYTEXT" style="text-align: justify;">
	<span style="letter-spacing: 0.2pt;">In the light of the above, there cannot be a disagreement, if we say that Performance Management is thus one of the most essential elements of Management and most desired to be in place for institution and/or investments. <br />
	</span></p>
<p class="BODYTEXT" style="text-align: justify;">
	<span style="letter-spacing: 0.2pt;">The article is not intended to describe the steps or process of performance management. Rather it is intended to discuss various elements and/or contributing factors of performance management in day to day work life. Various research works suggest:</span></p>
<p class="bullet" style="text-align: justify;">
	<b>1.<span style="">&nbsp;&nbsp;&nbsp;&nbsp; </span>Regular Communication at work:</b> Employees mostly show concerns pertaining to the quality and quantity of communication at work.<span style="">&nbsp; </span>Inadequate and ineffective communication results in loss of cooperation and coordination, decreased productivity, undesired pressure, increased human turnover, absenteeism, rumors etc and there wonâ€™t be any disagreement that all these have huge impact on both personal and organizational performance. Hence, it would be wise to have two way clear, effective and regular communication within the organization to attain the desired performance.</p>
<p class="bullet" style="margin-top: 2.85pt; text-align: justify;">
	<b>2.<span style="">&nbsp;&nbsp;&nbsp; </span>Build Trust:</b> It has been widely experienced in daily work life that lack of trust among the members of the work team is very damaging. HR practitioners must accept that the performance management tools should not be considered as the only HR tools. Research works suggest that HUMILITY is one of the best to generate trust within organization. Managers or HR practitioners who are ready to acknowledge mistakes have been considered as highly competent. Even mediocre people are accepted easily saying, â€œYou are trustworthy because you have courage to admit a mistakeâ€. One must be seen by other members not as a competitor but as a collaborator. Trust encourages people to focus on productivity instead of remaining suspicious for every action of Management.</p>
<p class="bullet" style="margin-top: 5.65pt; text-align: justify;">
	<b>3.<span style="">&nbsp;&nbsp;&nbsp; </span>Satisfy Customers: </b>Customer service must be improved starting from the office of the top management (e.g. Managing Director, CEO, GM etc.). Commitment must be communicated to all the levels (internal &amp; external). An awareness drive can be launched for improvement on customer service. Customers also want to feel that you value them and their business. Loyal customers market the company. This way, the customer satisfaction becomes an important key in driving performance.</p>
<p class="bullet" style="margin-top: 5.65pt; text-align: justify;">
	<b>4.<span style="">&nbsp;&nbsp;&nbsp; </span> Get Along:</b> Relationship, conflict, resentment etc. have a big negative impact on performance. Evaluate and encourage change process by allowing a fostering team spirit. Encourage discussions that lead to pointing out inconsistencies in the actions and outcomes against the agreed goals and priorities. Changes in behaviour, generating better understanding across the business, creating common goal and priority and showing concerns about one anotherâ€™s personal constraints as well as providing support in the hours of need will foster the team spirit and help building everlasting relationship.<span style="">&nbsp; </span>When the people get along, the tasks get done well and quality performance emerges automatically.</p>
<p class="bullet" style="margin-top: 5.65pt; text-align: justify;">
	<b><span style="letter-spacing: -0.15pt;">5.<span style="">&nbsp;&nbsp;&nbsp; </span>Full Attention:</span></b><span style="letter-spacing: -0.15pt;"> It would be wise to keep everyone informed of expectations from them. The people should be engaged to find solutions to troubles as well as pursuing alternates. Not just talk about open door policy, practice it. Allow people to disagree so that new ideas emerge. Adequate and/or increasing response confirms attentiveness. Listening and recognizing ideas with full involvement encourages participation. Full attention to othersâ€™ views, ideas, suggestion and communication generate energy within the team and reflects respect to each other. Most of the time, productive ideas donâ€™t get implemented due to the lack of attention. Improvement often comes from small efforts that were previously sent back without enough attention paid to them. If you encourage team to take RISK, your behaviour too must match your word so that the others in the team are confident that they are being heard with full attention. Ensure that the reminders or follow-ups about agreed move are sent in time. This will encourage participation and certainly will result in improved productivity. <br />
	</span></p>
<p class="bullet" style="text-align: justify;">
	<span style="">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </span>To conclude, research works show that performance management and performance evaluation are two different poles of the magnet.<span style="">&nbsp; </span>But both of them have the same purpose. The keys to performance are in the answers to the following questions: What is expected of us? What are we doing? What next? How are we doing? How should we be doing? When we must be doing? Why we should or must be doing?</p>
<p class="BODYTEXT">
	<span style="letter-spacing: 0.1pt;">Once, genuine answers to these are derived, Performance Management becomes integral part of our daily work life. </span></p>
<p class="BODYTEXT">
	<span style="letter-spacing: 0.1pt;">&nbsp;</span></p>
<p class="BODYTEXT" style="margin-top: 2.85pt; text-align: justify;">
	<i>(Dr Karna is Executive Chairperson, MARK Business Solutions Pvt Ltd &amp; Ad Abhyas Marketing &amp; Communications Pvt Ltd He says this article is based on various research reports and practical experiences.)</i></p>
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	<span style="font-size:14px;"><span style="font-family: times new roman,times,serif;"><span class="MyriadPro"><span style="letter-spacing: -0.05pt;"><strong><span style="color:#f00;"><em>New Comers<br />
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	<br />
	Rajiv Desraj Shrestha</strong> has joined Vijay Motors Pvt. Ltd. as General Manager. Earlier, he was Executive Manager of Dwarikaâ€™s Hotel. <br />
	<br />
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<p class="BODYTEXT" style="margin-top: 5.65pt; text-align: justify; text-indent: 0in;">
	<span style="font-size:14px;"><span style="font-family: times new roman,times,serif;"><span class="MyriadPro"><span style="letter-spacing: -0.05pt;"><strong>Laxman Khadka</strong> has joined Hotel Landmark, Pokhara as General Manager. Earlier, he was with Hotel Barahi, Pokhara at the same position. Similarly, Narahari Giri and Ashok Chalise have also joined Landmark as F &amp; B Manager and Restaurant Manager respectively. Earlier, Giri was with Bhanchhaghar Restaurant, Kathmandu as General Manager and Chalise at Hotel Himalaya as Maitre De. <br />
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<p class="BODYTEXT" style="margin-top: 5.65pt; text-align: justify; text-indent: 0in;">
	<span style="font-size:14px;"><span style="font-family: times new roman,times,serif;"><span class="MyriadPro"><span style="letter-spacing: -0.05pt;"><strong>Rabindra Raut</strong> has joined SNV (Netherlands Development Organization) Nepal as Tea Value Chain Development Advisor. Earlier, he was with Vijay Motors Pvt Ltd as the General Manager. <br />
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<p class="BODYTEXT" style="margin-top: 5.65pt; text-align: justify; text-indent: 0in;">
	<span style="font-size:14px;"><span style="font-family: times new roman,times,serif;"><span class="MyriadPro"><span style="letter-spacing: -0.05pt;"><strong>Upendra Napit </strong>has joined Leon Motor Pvt. Ltd. - the Sub Distributor of Mitsubishi motors for Nepal as General Manager. Earlier, he was Customer Service Manager of Padma Shree Pvt. Ltd. - the distributor of Mazda motors in Nepal. <br />
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	<span style="font-size:14px;"><span style="font-family: times new roman,times,serif;"><span class="MyriadPro"><span style="letter-spacing: -0.05pt;"><strong>Raj Kumar KC</strong> has joined Hotel Barahi, Pokhara as Operation Manager. Earlier, he was with Shangri-La Village Pokhara as F &amp; B Manager. <br />
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<p class="BODYTEXT" style="margin-top: 5.65pt; text-align: justify; text-indent: 0in;">
	<span style="font-size:14px;"><span style="font-family: times new roman,times,serif;"><span class="MyriadPro"><span style="letter-spacing: -0.05pt;"><strong>R B Neupane </strong>has joined Shangri-La Village Pokhara as F &amp; B Manager. Earlier he was working in India. <br />
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<p align="left" class="BODYTEXT" style="margin-top: 5.65pt; text-align: left; text-indent: 0in;">
	<strong><span style="font-size:14px;"><span style="font-family: times new roman,times,serif;"><span class="MyriadPro"><i><span style="color: rgb(237, 28, 36); letter-spacing: -0.05pt;">Newcomers at Capital Merchant Banking and Finance <br />
	<br />
	</span></i></span></span></span></strong></p>
<p class="BODYTEXT" style="margin-top: 5.65pt; text-align: justify; text-indent: 0in;">
	<span style="font-size:14px;"><span style="font-family: times new roman,times,serif;"><span class="MyriadPro"><span style="letter-spacing: -0.05pt;"><strong>Bikash Singh Chauhan</strong> has joined Capital Merchant Banking and Finance Ltd. (CMBFL) as the Branch Manager of Damak branch. Earlier he was Sr. Accountant (Administration &amp; Loan Department) of Kankai Bikash Bank Ltd., Jhapa. Lekhraj Poudel has joined CMBFL as&nbsp; Branch Manager of Birtamode branch. Earlier he was with Gorkha Development Bank, Damak as Loan In-charge. Krishna Prasad Luitel has joined CMBFL as Branch Manager of Itahari branch. Earlier, he was Asst. Manager in Public Development Bank, Biratnagar. <br />
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<p align="left" class="BODYTEXT" style="margin-top: 5.65pt; text-align: left; text-indent: 0in;">
	<strong><span style="font-size:14px;"><span style="font-family: times new roman,times,serif;"><span class="MyriadPro"><i><span style="color: rgb(237, 28, 36); letter-spacing: -0.05pt;">Promotions &amp; Transfers at NIC Bank <br />
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<p class="BODYTEXT" style="margin-top: 5.65pt; text-align: justify; text-indent: 0in;">
	<span style="font-size:14px;"><span style="font-family: times new roman,times,serif;"><span class="MyriadPro"><span style="letter-spacing: -0.05pt;"><strong>Sunil Moktan</strong> of NIC Bank has been promoted and transferred to New Baneshwor branch as Branch Manager from Operation In-charge of Satdobato branch. Rima S. Joshi has been promoted and transferred to Thamel branch as Branch Manager from Customer Service In-charge of Biratnagar branch. Kiran Bhattarai has been promoted and transferred to Maharajgunj branch as Branch Manager from Deposit Marketing Officer of Pepsi Chowk branch. Rabi Shrestha has been promoted as Branch Manager to Thankot branch from Operation In-charge of Surkhet branch. <br />
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	<strong><span style="font-size:14px;"><span style="font-family: times new roman,times,serif;"><span class="MyriadPro"><i><span style="color: rgb(237, 28, 36); letter-spacing: -0.05pt;">Promotion at Prabhu Finance Company <br />
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	<span style="font-size:14px;"><span style="font-family: times new roman,times,serif;"><span class="MyriadPro"><span style="letter-spacing: -0.05pt;"><strong>Kshitiz Shakya</strong> of Prabhu Finance Company Ltd. has been promoted as Branch Manager of New Road branch from Head of IT Department in the main branch of the company. <br />
	<br />
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	<strong><span style="font-size:14px;"><span style="font-family: times new roman,times,serif;"><span class="MyriadPro"><i><span style="color: rgb(237, 28, 36); letter-spacing: -0.05pt;">Transfers at Nabil Bank<br />
	<br />
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	<span style="font-size:14px;"><span style="font-family: times new roman,times,serif;"><span class="MyriadPro"><span style="letter-spacing: 0.1pt;"><strong>Sukra Bhattarai</strong> of Nabil Bank has been transferred to Gwarko branch as Branch Manager from Branch Manager of Balwari, Rupandehi branch. Neeta Rajkarnikar has been transferred to Gwarko branch as Operation In-charge from Customer Service and Clearing In-charge of Pulchowk branch. Benu Raut has been transferred to Dhapasi Branch as Branch Manager from Branch Manager of Damak branch. Maheshwor Rimal has been transferred to Sinamangal branch as Branch Manager from Operation In-charge of Pokhara branch. Mohan Kafle has been transferred to Anamnagar branch as Branch Manager from Operation In-charge of Chabahil branch. Digendra Chand has been transferred to Aattarkhel branch as Branch Manager from Senior Officer of Central Trade Operations department at the Head office of the bank.</span></span><span style="line-height: 115%;"> <br />
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<p class="ANSWER" style="text-align: justify;">
	<span style="color: rgb(165, 42, 42);"><span style="font-size: 11px;"><span lang="EN-GB" style="letter-spacing: 0.25pt;">Takeyushi SATO <i>(left in the pic)</i> and Dattatraya Joshi, Managing Director and Vice President, respectively, of Hitachi Koki India, a subsidiary of Hitachi Koki Japan, were in Nepal to officially launch their products â€“ the Hitachi power equipments through Kathmandu Power Solutions (KPS). Excerpts from a joint interview:&nbsp; </span><span style="color: rgb(255, 140, 0);"><span lang="EN-GB" style="letter-spacing: 0.15pt;"><br />
	</span></span></span></span></p>
<p class="QUESTION">
	<em><span style="color: rgb(255, 140, 0);"><span lang="EN-GB" style="letter-spacing: 0.15pt;">How is Hitachi Koki doing in India? </span></span></em></p>
<p class="ANSWER" style="text-align: justify;">
	<span lang="EN-GB" style="letter-spacing: 0.15pt;">Dattatraya Joshi: It was set up in 1996 and it has its headquarters in Bangalore.<span style="">&nbsp; </span>We are into marketing of power tools in India where we have seven branches. We have an assembly facility in Bangalore. We also import finished products of Hitachi from Japan, Malaysia, China and other places. <br />
	</span></p>
<p class="QUESTION">
	<span style="color: rgb(255, 140, 0);"><em><span lang="EN-GB" style="letter-spacing: 0.15pt;">How do you view the market of electronics in Nepal?</span></em></span></p>
<p class="ANSWER" style="text-align: justify;">
	<span lang="EN-GB" style="letter-spacing: 0.15pt;">Joshi: Before appointing KPS as our distributer, we have had a small survey on the market in Nepal. Since we have studied this market carefully, we have understood the opportunities here. We know the competitors, their strengths, strategies and weaknesses. Certainly, we are very confident about having a reasonable market share in Nepal in the coming months. <span style="color: rgb(255, 140, 0);"><em><br />
	</em></span></span></p>
<p class="QUESTION">
	<span style="color: rgb(255, 140, 0);"><em><span lang="EN-GB" style="letter-spacing: 0.15pt;">What are the features of your products?</span></em></span></p>
<p class="QUESTION" style="text-align: justify;">
	<span lang="EN-GB" style="letter-spacing: 0.15pt;">Takeyushi SATO: Our products are basically power equipments like mechanised drillers, cutters and screw drivers. Joshi will tell more on it. Joshi: Our products have unique features compared to our competitors. In Nepal, we have launched 28 products. Hitachi worldwide has 700 different models. We will introduce more products in Nepali market as per the demand and requirement.<span style="">&nbsp;</span> <br />
	</span></p>
<p class="QUESTION">
	<span style="color: rgb(255, 140, 0);"><em><span lang="EN-GB" style="letter-spacing: 0.15pt;">What prospects do you see for your products in Nepal?</span></em></span></p>
<p class="QUESTION" style="text-align: justify;">
	<span lang="EN-GB" style="letter-spacing: 0.15pt;">SATO: I see a lot of prospects here. Our products consume less electricity and have long life. They are good in quality. Joshi: Nepal is basically severe power-shortage country. Our low power consuming products will prove quite handy here. We also know that many power projects are in the pipeline. Our products are eco-friendly and are quite useful in construction works. We see a lot of opportunities here. <br />
	</span></p>
<p class="QUESTION">
	<span style="color: rgb(255, 140, 0);"><em><span lang="EN-GB" style="letter-spacing: 0.15pt;">What could be the problems and challenges in Nepal?</span></em></span></p>
<p class="QUESTION" style="text-align: justify;">
	<span lang="EN-GB" style="letter-spacing: 0.15pt;">SATO: I do not see that much challenge as our main feature will be the after sales service. Chinese or other products may not have that. <br />
	</span></p>
<p class="QUESTION" style="text-align: justify;">
	<span lang="EN-GB" style="letter-spacing: 0.15pt;">Joshi: I do not see a major challenge here. Our power tools are innovative and durable. The power tools market in Nepal is dominated by Chinese products, about which the people have the general perception that they are simply â€˜use and throwâ€™ items. We want to show the users a different path in which they will be entitled to get the qualitative after sales service as well.<span style="">&nbsp; </span>After months or years of use, the end users can go to the service provider, fix the machines and reuse them.<span style="">&nbsp;</span> <br />
	</span></p>
<p class="QUESTION">
	<span style="color: rgb(255, 140, 0);"><em><span lang="EN-GB" style="letter-spacing: 0.15pt;">What could be your market strategy in Nepal?</span></em></span></p>
<p class="ANSWER" style="text-align: justify;">
	<span lang="EN-GB" style="letter-spacing: 0.15pt;">Joshi: We will share our Indian experience and advise our distributer KPS here in creating distribution network, ensuring constant availability of our products and doing some promotional activities.<span style="">&nbsp; </span>We will formulate more marketing strategy depending upon the situation. <br />
	</span></p>
<p class="QUESTION">
	<span style="color: rgb(255, 140, 0);"><em><span lang="EN-GB" style="letter-spacing: 0.15pt;">What about market share?</span></em></span></p>
<p class="QUESTION">
	<span lang="EN-GB" style="letter-spacing: 0.15pt;">SATO: Our first target will be to achieve a two-digit market share. <br />
	</span></p>
<p class="QUESTION">
	<span style="color: rgb(255, 140, 0);"><em><span lang="EN-GB" style="letter-spacing: 0.15pt;">Who are your competitors?</span></em></span></p>
<p class="MsoNormal" style="text-align: justify;">
	<span lang="EN-GB" style="letter-spacing: 0.15pt;">SATO: Bosch, a German multinational is the market leader in Nepal in the upper segment, i.e., the branded products. The other major players are Makita (Japan) and Dewald (USA). Including Hitachi now, the competition will be among these four branded companies. We do not have competition with low priced Chinese products, as we are not targeting that particular market segment. Our focus is only on upper segment.</span> </p>',
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	<b><span aldine401="" bt="" color:="" letter-spacing:="" serif="" style="font-size: 55.5pt;"><span style="font-size: 16px;">B</span></span></b><span aldine401="" bt="" color:="" letter-spacing:="" serif="" style="font-size: 9.5pt;">ank of Kathmandu (BOK) has two distinct identities. One, it is among the few commercial banks managed entirely by Nepali professionals. Second, it is the only commercial bank with more shares in the hands of the public shareholders than with the promoters. The Bank recorded some 25 per cent increase in its net profit in the first quarter of the current fiscal year (2010/11). In the first quarter of last fiscal year (2009/10), the Bank had a net profit of Rs 120 million. In this yearâ€™s corresponding period, the Bankâ€™s net profit rose by some 40 million to cross Rs 160 million. <br />
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	<span aldine401="" bt="" color:="" letter-spacing:="" serif="" style="font-size: 9.5pt;">â€œThis time around, it was not wise to thicken the balance sheet by increasing deposits. Rather, we focused on increasing the net profit,â€ says Ajay Shrestha, Chief Executive Officer of the Bank since February 2010. â€œAggressive deposit increase would only add to the costs. Thatâ€™s why, we diverted our focus.â€ <br />
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	<span aldine401="" bt="" color:="" letter-spacing:="" serif="" style="font-size: 9.5pt;">Though Shrestha joined BOK as its CEO just one year ago, he was not a complete stranger. He was the duty of the CEO in BOK for some six years and had left it to work in another bank. It was only two years gap when he rejoined BOK in February 2010. <br />
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	<span aldine401="" bt="" color:="" letter-spacing:="" serif="" style="font-size: 9.5pt;">As of today, the total deposit of the Bank is around Rs 18 billion and the loan outstanding is around Rs 17 billion. â€œWe are observing whether the same growth in profit margin will sustain in the coming quarters as well,â€ Shrestha adds. â€œOur effort will be to gain a reasonable growth in the profitability. Overall, our balance sheet is stable.â€ <br />
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	<span aldine401="" bt="" color:="" letter-spacing:="" serif="" style="font-size: 9.5pt;">BOK started operation in March 1995 as a joint venture with the Siam Commercial Bank of Thailand. But the Bank could not do well due to various problems and the main reason cited is the â€˜mixed-culture managementâ€™ of that time with Nepali and Thai management style not finding synergy. <br />
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	<span aldine401="" bt="" color:="" letter-spacing:="" serif="" style="font-size: 9.5pt;"><br />
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	<span aldine401="" bt="" color:="" letter-spacing:="" serif="" style="font-size: 9.5pt;">So, Siam Commercial Bank pulled out in the year 2000 selling its shares to the general Nepali public. The result was that the Bankâ€™s management came to entirely Nepali hands and the performance of the Bank started turning around. The efforts undertaken during 2001-2004 period set the foundation for the Bankâ€™s success in the following years, notes Shrestha. <br />
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	<span aldine401="" bt="" color:="" letter-spacing:="" serif="" style="font-size: 9.5pt;">During this period, the Bank changed the customer profile. It focused on importers and exporters and also started project financing in areas such as medical colleges and hydropower. Though the Bank continued financing the corporate sector, it also initiated retail banking at the same time. Under retail banking, the Bank encouraged small account holders to open â€˜Sajilo Bachat Khataâ€™ which translates to â€˜easy saving accountâ€™. <br />
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	<span aldine401="" bt="" color:="" letter-spacing:="" serif="" style="font-size: 9.5pt;">Today, the Bank has 37 branches including the head office at Kamaladi, Kathmandu, 41 ATM outlets and 6 extension counters across the country. <br />
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	<span aldine401="" bt="" color:="" letter-spacing:="" serif="" style="font-size: 9.5pt;">According to Shrestha, the human resource management of the bank is based on the concept of looking basically on two factors: recruitment standard and growth potential. â€œUnder the first, we evaluate whether the new recruit is as per the level and requirements that we have set. Under the second, we provide growth potentials within the organisation for the hired ones.â€ <br />
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	<span aldine401="" bt="" color:="" letter-spacing:="" serif="" style="font-size: 9.5pt;">The Bank, however, is not always lucky to get the manpower of required quality. Though most of the newcomers have a management degree, they still need brushing up their skills. The reason is that the fresh graduates are mostly with academic background in finance but the Bank needs people also for non-finance fields such as marketing, general management etc. This sometimes creates problems for the Bank. Marketing is very crucial for a bank to sustain and expand. â€œBut, we donâ€™t often get the manpower trained and educated on quality marketing,â€ laments Shrestha. <br />
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	<span aldine401="" bt="" color:="" letter-spacing:="" serif="" style="font-size: 9.5pt;">However, the challenges in the human resource field donâ€™t end there. As the competition is stiff in banking sector, one bankâ€™s capable employees are lured by other banks offering attractive perks and benefits. According to Shrestha, his bank is facing this challenge by continuous training process. He stresses that as long as a bank has the capacity to train its staff, it would not be a problem when some individuals leave the bank. <br />
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	<span aldine401="" bt="" color:="" letter-spacing:="" serif="" style="font-size: 9.5pt;">At present, the number of employees with the Bank is 780. <br />
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	<span aldine401="" bt="" color:="" letter-spacing:="" serif="" style="font-size: 9.5pt;">According to the opinion of Shrestha, the people donâ€™t differentiate between the banks much. For them, bank A and bank B are the same, he says and underlines the need to educate the people so that they could differentiate between the banks. <br />
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	<span aldine401="" bt="" color:="" letter-spacing:="" serif="" style="font-size: 9.5pt;">When Shrestha rejoined BOK as its CEO in February 2010, Shrestha mainly concentrated on two initiatives to increase the customer base. First, he offered higher interest rates to small depositors and next, he brought the â€˜unbankedâ€™ population to banking service. In this connection, the Bank paid attention to expanding customer base outside the Kathmandu valley. And the result is that, in the last 10 months or so, some 30 thousand new accounts were opened in the Bank. â€œWe ran a campaign making people aware that deposits are important in life. Being present ourselves in the field, we helped women, the disabled and the low income people open their own bank accounts,â€ says he. <br />
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	<span aldine401="" bt="" color:="" letter-spacing:="" serif="" style="font-size: 9.5pt;">An account can be opened in BOK with Rs 1000 as balance to which the Bank adds Rs 300 from its side, thus making the â€˜seed moneyâ€™ rise up to Rs 1300. The Bank has also removed the minimum deposit requirement in the fixed deposit. However, BOK has not offered â€˜zero balanceâ€™ or â€˜Rs 1â€ accounts that many other banks are offering.<span style="">&nbsp; </span>â€œZero balance or Rs 1 accounts may not help the people to learn about generating value from their deposits. Thatâ€™s why we did not go for that,â€ explains Shrestha.<span style="">&nbsp;</span> <br />
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	<span aldine401="" bt="" color:="" letter-spacing:="" serif="" style="font-size: 9.5pt;">Another strategic decision of the Bank is to focus its lending to a few areas so that the profiting position is not lost. Therefore, the Bank is providing only a few types of loans such as corporate loan, SME loan, retail loan, credit card and development credit. The Bank has plans to become even more focused, reveals Shrestha. <br />
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	<span aldine401="" bt="" color:="" letter-spacing:="" serif="" style="font-size: 9.5pt;">The Bank has changed even its focus in Corporate Social Responsibility. In the past, the Bankâ€™s key priority areas used to be education, health and environment. But for the past few years, the Bank has been focusing on finance and banking. Under this, the Bank has been campaigning to raise peopleâ€™s awareness on the value of deposits with the slogan, â€œWe make your life easier.â€ <br />
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	<span aldine401="" bt="" color:="" letter-spacing:="" serif="" style="font-size: 9.5pt; line-height: 115%;">Shresthaâ€™s management mantra is efficiency, not volume. â€˜Efficiency is a must for a bankâ€™s survivalâ€™ is his refrain. </span><span style="font-size: 6.5pt; line-height: 115%; font-family: Wingdings; color: rgb(237, 28, 36); letter-spacing: -0.15pt;"><span style="">&nbsp;</span> <br />
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<p style="text-align: center;">
	<span style="font-size: 24px;"><span style="font-family: &quot;Franklin Gothic Heavy&quot;,&quot;sans-serif&quot;; color: rgb(237, 28, 36);">NIC Bankâ€™s</span><span style="font-family: &quot;Franklin Gothic Heavy&quot;,&quot;sans-serif&quot;; color: rgb(46, 48, 146);">&nbsp; Productive </span><span style="line-height: 115%; font-family: &quot;Franklin Gothic Heavy&quot;,&quot;sans-serif&quot;; color: rgb(46, 48, 146);">Orientation</span></span></p>
<p style="text-align: justify;">
	<span style="font-size: 55.5pt; letter-spacing: -0.2pt;"><span style="font-size: 20px;"><span style="font-size: 18px;">W</span></span></span><span style="letter-spacing: -0.2pt;">ith the conclusion of its 13th Annual General Meeting, Nepal Industrial and Commercial Bank Limited (NIC) has decided to distribute a cash dividend of 26.32 per cent. This is one of the highest dividend payout by any bank in 2010. The Bank posted a Net Profit of Rs 449.8 million in FY 2009/10 which is 42 per cent more than last year. The Bankâ€™s Non-Performing Loans are very low at 0.7 per cent. Similarly, in the first four months of this year, the Bank has posted an operating profit of Rs 289 million. The investment of the Bank has also increased from Rs 3.026 billion to Rs 4.947 billion in FY 2009/10 which signifies 63 per cent growth. â€œOur investment portfolio clearly indicates that our exposure in productive sector is more than 90 per cent. We continue to capitalize on our strengths by increasing our investment in this sector. However, Small and Medium Enterprise sector will be focused more,â€ says Sunil Pokharel, Head, Retail Banking, NIC Bank. <br />
	</span></p>
<p class="BODYTEXT">
	<span style="letter-spacing: -0.2pt;">The total workforce of the Bank is 320 with 33 per cent female. <br />
	</span></p>
<p class="BODYTEXT" style="text-align: justify;">
	<span style="letter-spacing: -0.2pt;">NIC Bank had commenced its operation on 21st July, 1998 with its head office in Biratnagar. Promoted by several prominent business houses of Nepal, it started with a capital of Rs 500 million which was the highest paid up capital of any bank at that time. The paid-up capital increased to Rs 1.31 billion in FY 2009/10. The Bank has been in profit since its inception and has recorded a robust growth in its overall business and profitability during the recent years. <br />
	</span></p>
<p class="BODYTEXT" style="text-align: justify;">
	<span style="letter-spacing: -0.2pt;">The Bank has been consistently embarking on sustainable network expansion and has successfully added several new branches every year in strategic new locations. At present, the Bank has a total of 28 branches and 26 ATMs across the country serving more than 112,000 customers. The Bank will shortly be opening four more branches and adding 10 ATMs. All its branches are inter-connected through V-SAT and optical-fibre network which is capable of providing on-line real time transactions. <br />
	</span></p>
<p class="BODYTEXT" style="text-align: justify;">
	<span style="letter-spacing: -0.2pt;">Being the first ISO 9001:2008 certified commercial bank of the country, NIC has raised the bars on competition and become more committed towards delivering quality and superior products and services to the customers as well as maintaining corporate governance within its staffs. <br />
	</span></p>
<p class="BODYTEXT" style="text-align: justify;">
	<span style="letter-spacing: -0.2pt;">NIC Bank has played a pioneering role in the Nepali banking sector introducing innovative and customized products and services to its customers. Deposit Products, Business Banking, SME Banking, Consumer Banking, Transaction Banking and Bullion Business are some of the products and services offered by NIC. â€œWe are the first bank to introduce Savings Account Scheme bundled with life insurance. Also, we are the first to introduce fixed deposit account with the ease of a savings account. Recently, we have launched â€œComplete Savings Accountsâ€ â€“ a truly hassle free account for an individual and â€œNIC- Remit Savings Accountsâ€ with unique features for those receiving fund from overseas,â€ says Pokharel.<span style="">&nbsp;</span> <br />
	</span></p>
<p class="BODYTEXT" style="text-align: justify;">
	<span style="letter-spacing: -0.2pt;">NIC was awarded â€œBank of the Year 2007â€ honour by The Banker Magazine, Financial Times, London. Besides this, it is the first bank in Nepal to be provided a line of credit by International Finance Corporation (IFC), an arm of World Bank Group under its Global Trade Finance Program, enabling the Bankâ€™s Letter of Credit and Guarantee to be accepted by more than 200 banks worldwide. Also, it is the first bank to offer bullion trading and to offer lowest-price home loan schemes. <br />
	</span></p>
<p class="BODYTEXT" style="text-align: justify;">
	<span style="letter-spacing: -0.2pt;">Over the course of five successive fiscal years, the bankâ€™s performance has been tremendous. The Compounded Annual Growth Rate (CAGR) of the bank<span style="">&nbsp; </span>is one of the highest in the industry for the last five years (see table). â€œThe competition has always been tough. The increasing numbers of banks have now forced to come out from its comfort zone to provide quality services and look for new avenues in order to increase revenue by introducing new and innovative products to its customers. Therefore, we cannot be an exception,â€ says Pokharel. He adds, â€œWe consider ourselves at the adolescence stage of corporate life cycle and there is a long way to have a turning point. We strongly believe in a positive corporate cultureâ€.<span style="">&nbsp;</span> <br />
	</span></p>
<p class="BODYTEXT" style="text-align: justify;">
	<span style="letter-spacing: -0.2pt;">The bank has special and distinct Corporate Social Responsibility (CSR) practice. It has sponsored many events and programs which mainly focus on enabling talent through education, creating opportunities through social investments and corporate volunteering. All the contributions and sponsorships come under the Bankâ€™s CSR. As a responsible corporate house, NIC Bank contributes to the society in various ways through NIC Foundation (NICF), an independent non-profit organization promoted by the Bank. The foundationâ€™s main objective is to bring positive societal changes through charitable works. It aims at helping marginalized and underprivileged communities through education, health and skill development. NIC has been providing scholarship to under privileged but meritorious girl children in Kathmandu. It has also been providing scholarship to the visually challenged students who hail from Jumla to pursue their higher education in Kathmandu. It has donated computers to a school of a remote area and provided financial assistance to an orphanage in Birgunj. It has donated two ambulances in Mid-Western Regional Hospital in Surkhet. It has also helped in construction of Mata Tripurasundari Temple at Dhobighat, Lalitpur and has supported to construct a trail from Kusma to Modi Beni in Parbat district. The Bank has also been organizing a Blood Donation Campaign every year. Furthermore, the Bank has also donated for the flood victims in Koshi and diarrhoea victims in Jajarkot. The Bank has recently taken initiatives for the development of sports in Nepal and has sponsored National Open Gymnastics Championship. NICFâ€™s programs are sustained by the Bankâ€™s contribution of 0.5 per cent from its annual profits. NIC is the only bank to have fixed the proportion of its profit to be set aside for such cause. <br />
	</span></p>
<p class="MsoNormal">
	<span style="letter-spacing: -0.2pt;">Being a well established brand with 12 years history, NIC aims to continue striving for better performance and exceed the expectation of all stakeholders. Precisely, the Bankâ€™s future plans are based on providing â€œComplete Financial Solutionsâ€ to the customers and good return on investment to its shareholders. â€œApart from increasing footprints and investment in technology and system-upgradation (core banking system), we are also coming with new tailor made products to serve our anticipated customer needs. Also, we are bringing innovative products and services suitable for corporate customers as well as retail customers,â€ says Pokharel. </span></p>
<p class="MsoNormal" style="text-align: center;">
	<span style="font-size: 24px;"><span color:="" franklin="" gothic="" heavy="" sans-serif="">Imperial Finance</span><span color:="" franklin="" gothic="" heavy="" sans-serif="">: </span><span style="line-height: 115%; font-family: FranklinGothic; color: rgb(0, 94, 157);">Slow but Steady Steps</span></span></p>
<p class="MsoNormal" style="margin-bottom: 0.0001pt; line-height: 11pt; vertical-align: middle; text-align: justify;">
	<span aldine401="" bt="" color:="" serif="" style="font-size: 9.5pt;">Imperial Finance Limited opened a branch on January 14, 2011 at New Road of Kathmandu. Though the company now has only two branches, the presence in the main business centre of the capital gives a very positive message as it is sure to contribute to the business expansion of the company. Established in March 2006 with Rs 50 million as the paid up capital, the company is growing robust with the capital now increased to Rs 150 million. <br />
	</span></p>
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	<span aldine401="" bt="" color:="" serif="" style="font-size: 9.5pt;"><br />
	</span></p>
<p class="MsoNormal" style="margin-bottom: 0.0001pt; text-align: justify; text-indent: 14.15pt; line-height: 11pt; vertical-align: middle;">
	<span aldine401="" bt="" color:="" serif="" style="font-size: 9.5pt;">Binod Karki, Chief Executive Officer (CEO) of the company says that the visionary dedication of the founder members has brought the company to this point. The company now has its own building to house its head office for about three years now. <br />
	</span></p>
<p class="MsoNormal" style="margin-bottom: 0.0001pt; text-align: justify; text-indent: 14.15pt; line-height: 11pt; vertical-align: middle;">
	<span aldine401="" bt="" color:="" serif="" style="font-size: 9.5pt;"><br />
	</span></p>
<p class="MsoNormal" style="margin-bottom: 0.0001pt; text-align: justify; text-indent: 14.15pt; line-height: 11pt; vertical-align: middle;">
	<span aldine401="" bt="" color:="" serif="" style="font-size: 9.5pt;">Today the company has expanded to two branches and multiplied its capital thrice from Rs 50 million to Rs 150 million, notes Karki who joined the company as the third CEO recently. Now the company is planning to increase its capital to Rs 200 million by 2013 (2070 BS) as required by the central bank. The promoters own 61 percent in the company withy the rest 39 per cent held by the general people. <br />
	</span></p>
<p class="MsoNormal" style="margin-bottom: 0.0001pt; text-align: justify; text-indent: 14.15pt; line-height: 11pt; vertical-align: middle;">
	<span aldine401="" bt="" color:="" serif="" style="font-size: 9.5pt;"><br />
	</span></p>
<p class="MsoNormal" style="margin-bottom: 0.0001pt; text-align: justify; text-indent: 14.15pt; line-height: 11pt; vertical-align: middle;">
	<span aldine401="" bt="" color:="" serif="" style="font-size: 9.5pt;">To increase the capital, the company is distributing bonus shares. Last year the company provided 20 per cent bonus share and this year it is giving 15 per cent bonus share. Karki says that the company might also need to issue rights share in the coming days to meet the target of the capital increment. <br />
	</span></p>
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	<span aldine401="" bt="" color:="" serif="" style="font-size: 9.5pt;"><br />
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<p class="MsoNormal" style="margin-bottom: 0.0001pt; text-align: justify; text-indent: 14.15pt; line-height: 11pt; vertical-align: middle;">
	<span aldine401="" bt="" color:="" serif="" style="font-size: 9.5pt;">The company has made an operating profit of Rs 47.12 million in the first quarter of the current fiscal year while it was Rs 52.04 million in the same period last year. <br />
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	<span aldine401="" bt="" color:="" serif="" style="font-size: 9.5pt;"><br />
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	<span aldine401="" bt="" color:="" serif="" style="font-size: 9.5pt;">Last year the company had opened a branch in Narayanghat of Chitwan and the branch expansion continued this year with the New Road facility opened. But that is not sufficient for competition in the market that has so many players â€“ commercial banks, development banks, finance companies and saving-credit cooperatives. However, Karki is confident of his companyâ€™s competitiveness.<span style="">&nbsp; </span>Karki says, â€œWe find ourselves ahead based on the asset and loan quality when compared to other companies.â€ <br />
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	<b><span style="font-size: 12.5pt; letter-spacing: 0.2pt;">T</span></b><span style="letter-spacing: 0.2pt;">he Extravagant inauguration of Nepal Tourism Year (NTY)- 2011 on 14th January marked the beginning of a yearlong campaign aimed at attracting one million international tourists to Nepal. A well orchestrated mega event was surely a source of new hope for the Nepalis w<input type="hidden" />ho for years were devoid of any optimistic gesture from our sullen political leadership. <br />
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	<span style="letter-spacing: 0.2pt;">But NTY is not politics, it is the pure business. This is the fact which our politicians put on the backburner once again. Millions of rupees were spent to choreograph the parades, paragliders and political speeches at the Dashrath Stadium of Kathmandu. But the link between the event held in the capital and sublime purpose of attracting one million&nbsp; tourist was apparently missing, to say the least. According to the sources in Ministry of Tourism and Civil Aviation, the inauguration ceremony alone cost about Rs 25 million to the state exchequer. But no one involved in the feast is probably able to establish how&nbsp; a single Nepal bound international tourist would be influenced by this event. <br />
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	 </p>
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	<b><span style="font-size: 12.5pt; letter-spacing: 0.2pt;"><img alt="from the editor" border="1" height="221" hspace="10" src="http://www.newbusinessage.com/ckfinder/userfiles/Images/nty.jpg" style="width: 267px; height: 221px;margin:10px;padding:10px;" vspace="10" width="267" /></span></b></p>
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	<span style="letter-spacing: 0.2pt;">Instead, had the visionaries of NTY&nbsp; 2011 spent the amount&nbsp; Rs one million each for 25 potentially tourist originating countries for example for international promotion of Nepal as the most fascinating destination, the impact would have been certainly more productive. The flaw could be dismissed as all the public sector decisions are like that. But here, our private sector leaders are boasting to be the managers of the entire activities; in that case, it is also the failure of the private sector. <br />
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	<span style="letter-spacing: 0.2pt;">Not only the inauguration ceremony of NY&nbsp; 2011 was marred by Nepal's inward looking flaws, the campaign and promotion planning for the entire event appears ad-hoc. Hiccups like the government's failure to release the budget it committed were already there. But in more serious note, the steering committee did not bother to mobilise diplomatic channels to promote NTY. The greatest testimony to it was, the USA issued adverse travel advisory to its citizens not to visit Nepal, on the very eve of the inauguration. <br />
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	<span style="letter-spacing: 0.2pt;">The complaints of the sector like sports on their exclusion is also valid, as claimed, they could have developed products of sports and other sector tourism. Regardless of anything that went right or wrong, the NTY has already begun. Therefore, the remaining period of time and resources must be used purposefully, unlike the way it was done for the inauguration.</span></p>',
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	<span style="font-size:12px;"><i><span color:="" lucida="" style="line-height: 120%;"><img alt="" border="4" hspace="3" src="http://www.newbusinessage.com/ckfinder/userfiles/Images/no.jpg" style="width: 129px; height: 155px;" vspace="2" /></span></i></span></p>
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	<span style="font-size: 12px;"><i><span color:="" lucida="" style="line-height: 120%;">By Madan Lamsal</span></i></span></p>
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	<span style="line-height: 115%;"><br />
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	<span style="font-size: 12px;"><span class="MyriadPro"><b><span aldine401="">T</span></b></span><span class="MyriadPro"><span aldine401="">hese days, there is a lot of news about revenue officers running behind some prominent Nepali business people. The charge on the poor business people was simple: they produced some fake VAT bills. This was indeed an unbelievable revelation as Nepali businesses selectively employ many Chartered Accountants, lawyers, tax experts and also, former bureaucrats.&nbsp; Why were all these trained hands supporting the private businesses not able to protect the firms from the clutches of the tax officers ? <br />
	</span></span></span></p>
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	 </p>
<p class="BODYTEXT">
	<span style="font-size: 12px;"><span class="MyriadPro"><span aldine401="">Economists sometimes argue that tax officers, tax accountants and tax lawyers don't perform any kind of productive function for the economy. But these economists are wrong in absolute terms. Let's first take the case of tax officers; they are highly productive. Look at the multi-million rupees bungalow of a revenue clerk at the heart of Kathmandu, who indeed had descended empty-handed from the high hills just a few years ago. And, gauge the pace of his productivity -- out of ten thousand rupees salary a month, he could multiple his income at least twenty fold to become so rich in no time. <br />
	</span></span></span></p>
<p class="BODYTEXT">
	<span style="font-size:12px;"><span class="MyriadPro"><span aldine401=""><br />
	</span></span></span></p>
<p class="BODYTEXT">
	<span style="font-size: 12px;"><span class="MyriadPro"><span aldine401="">Looking at the present determination exuded by some of the bureaucrats in tax administration, sworn to take action with tax evaders, one may find it hard to believe that these public servants work hand-in-glove with the private firms. But the recent episode of vowed action is true exception and is sure to evaporate in a couple of <br />
	</span></span></span></p>
<p class="BODYTEXT">
	<span style="font-size:12px;"><span class="MyriadPro"><span aldine401=""><br />
	</span></span></span></p>
<p class="BODYTEXT" style="text-align: justify;">
	<span style="font-size:12px;"><span class="MyriadPro"><span aldine401=""><img alt="" border="4" hspace="3" src="http://www.newbusinessage.com/ckfinder/userfiles/Images/img.jpg" style="width: 358px; height: 254px;" vspace="3" /></span></span></span></p>
<p class="BODYTEXT">
	<span style="font-size: 12px;"><span class="MyriadPro"><span aldine401="">months, if not days, without anything tangible. But the norm is: bureaucrats help the businesses to increase the profitability, and in turn, businesses reciprocate to enhance the productivity. <br />
	</span></span></span></p>
<p class="BODYTEXT">
	<span style="font-size:12px;"><span class="MyriadPro"><span aldine401=""><br />
	</span></span></span></p>
<p class="BODYTEXT">
	<span style="font-size: 12px;"><span class="MyriadPro"><span aldine401="">What could be the better productivity of CAs or tax accountants than helping their client save the tax money? They may call it tax planning, tax saving or tax avoiding, but in effect they help save money. Who on earth can say that saving is not being productive? It is a public knowledge that the best skill of an accountant lies in maintaining the balance in balance sheets. The more the cash balance, the merrier the client. This process, rather than an isolated incidence, duly recognizes the productive ability of CA and consolidates the productivity potential of the saver. <br />
	</span></span></span></p>
<p class="BODYTEXT">
	<span style="font-size:12px;"><span class="MyriadPro"><span aldine401=""><br />
	</span></span></span></p>
<p class="BODYTEXT">
	<span style="font-size: 12px;"><span class="MyriadPro"><span aldine401="">Because, not paying tax is also being highly productive. Even if you do, the amount is sure to go to the pockets of some politicians who sit in Singhadurbar or Baneswore who just eat-up time quarrelling for a chair, instead of being productive. Instead. look at how our business people could be productive out of saved money by not paying taxes. They could set up industries and production units. They can use it for their marriages, perhaps more than one, and increase their productivity. Even their luxury trips help promote value tourism that may include a number of heavenly pleasures, which in essence has to be reproduced or replenished by the tourism industry. <br />
	</span></span></span></p>
<p class="BODYTEXT">
	<span style="font-size:12px;"><span class="MyriadPro"><span aldine401=""><br />
	</span></span></span></p>
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	<span style="font-size: 12px;"><span class="MyriadPro"><span aldine401="">The tax lawyers are even more productive. These are the people who can swing the double-edged swords. They can produce the documents that are helpful for the businesses to evade the taxes at the first place and defend even indefensible if caught by the authorities. Simultaneously, they may be able to provide information to different departments or organizations like Inland Revenue Department, Flying Squad, CIAA, Revenue Tribunal etc, at least for 15 per cent legal commission.</span></span></span></p>
<p class="BODYTEXT">
	<span style="font-size:12px;"><span class="MyriadPro"><span aldine401=""><br />
	</span></span></span></p>
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	<span style="font-size: 12px;"><span class="MyriadPro"><span aldine401="" letter-spacing:="">All these analogies must be enough to firmly establish that not to pay tax is being more productive than paying it. Then why not abolish the tax system altogether ? <br />
	</span></span></span></p>
<p class="MsoNormal">
	 </p>
<p class="MsoNormal">
	<span style="font-size:12px;"><span class="MyriadPro"><span aldine401="" letter-spacing:=""><br />
	</span></span></span></p>',
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			'content' => '<p class="BREAKER" style="text-indent: 14.15pt;">
	<span style="font-size:12px;"><span style="font-size: 12px;"><span class="MyriadPro"><span franklin="" gothic="" medium="" sans-serif="">Even as a school boy, Raju Babu Shrestha had pictured that being the eldest son, he will be helping out his father and someday would fill his formidable shoes. <br />
	<br />
	</span></span></span></span></p>
<p class="MsoNormal">
	 </p>
<p class="MsoNormal">
	<span style="font-size:12px;"><span class="MyriadPro"><i><img align="left" alt="personality" border="1" height="299" hspace="5" src="http://www.newbusinessage.com/ckfinder/userfiles/Images/rajubaabu shrestha.jpg" style="width: 247px; height: 299px;margin:10px;padding:10px;" vspace="5" width="247" /></i></span></span></p>
<p class="MsoNormal">
	<span style="font-size: 12px;"><span class="MyriadPro"><i><br />
	</i></span></span></p>
<p class="MsoNormal">
	<span style="font-size: 12px;"><span class="MyriadPro"><i>By Pinaki Roy</i></span><span style="line-height: 115%;"> <br />
	</span></span></p>
<p class="nbasubhead2">
	<span style="font-size:12px;"><span bright="" lucida="" serif="" style="line-height: 120%;">Raju Babu Shrestha</span></span></p>
<p class="nbasubhead2">
	<span style="font-size:12px;"><i><span bright="" lucida="" serif="" style="line-height: 120%;">Director</span></i></span></p>
<p class="MsoNormal">
	<span style="font-size:12px;"><i><span bright="" lucida="" serif="" style="line-height: 115%;">Chitawon Co-E Nepal (P) Ltd <br />
	</span></i></span></p>
<p class="MsoNormal" style="margin-bottom: 0.0001pt; vertical-align: middle;">
	<span style="font-size: 12px;"><b><span aldine401="" bt="" color:="" serif=""><br />
	</span></b></span></p>
<p class="MsoNormal" style="margin-bottom: 0.0001pt; vertical-align: middle;">
	<span style="font-size: 12px;"><b><span aldine401="" bt="" color:="" serif="">H</span></b><span aldine401="" bt="" color:="" serif="">ailing from a business family, life was not exactly a bed of roses for Raju Babu Shrestha till as they say, lady luck smiled on him. Despite working very hard and giving it all he had, the period from 1982-1988 was a difficult one for him and his family business, Chitawon Construction &amp; Engineering Company Nepal (P) Ltd also known as Chitawon Co-E Nepal (P) Ltd. However, his marriage in 1988 changed his fortunes and there was no looking back ever since, says Shrestha. If someone told me that getting married will bring me luck, I would have married earlier, he adds tongue-in-cheek.&nbsp;</span></span></p>
<p class="MsoNormal" style="margin-bottom: 0.0001pt; vertical-align: middle;">
	<span style="font-size:12px;"><span aldine401="" bt="" color:="" serif=""><br />
	</span></span></p>
<p class="MsoNormal" style="margin-bottom: 0.0001pt; text-indent: 14.15pt; vertical-align: middle;">
	<span style="font-size: 12px;"><span aldine401="" bt="" color:="" serif="">Business runs in Shrestha's blood, his forefathers were from Gorkha and dealt in trading activities. But his father Laxman Babu Shrestha had different ideas in mind. And so, Chitawon Co-E Nepal (P) Ltd was registered as a proprietorship concern in 1966. Later, having proven its performance in various construction projects with excellent results, the company was promoted to class A Contractor in 1978. The Flagship Company has come a long way and today boasts of an impressive portfolio of companies including Manakamana Darshan (P) Ltd, Sagarmatha Power Company (P) Ltd, Nepal Ropeway Systems (P) Ltd, and Chitawon Milk (P) Ltd. Shrestha holds the position of Director in all these companies. <br />
	</span></span></p>
<p class="MsoNormal" style="margin-bottom: 0.0001pt; text-indent: 14.15pt; vertical-align: middle;">
	<span style="font-size:12px;"><span aldine401="" bt="" color:="" serif=""><br />
	</span></span></p>
<p class="MsoNormal" style="margin-bottom: 0.0001pt; text-indent: 14.15pt; vertical-align: middle;">
	<span style="font-size: 12px;"><span aldine401="" bt="" color:="" serif="">He fondly remembers his early days in Chitwan when though life was difficult due to lack of transportation; he still enjoyed his bicycle rides in the forested terrain. While in middle school, he would accompany his father and visit various construction sites for irrigation canals, roads, and dams. That was the seed period as Shrestha precisely knew what he wanted to do in life when he was grown up enough. He could envisage that he will be helping out his father being the eldest son and someday would fill his formidable shoes.&nbsp;</span></span></p>
<p class="MsoNormal" style="margin-bottom: 0.0001pt; text-indent: 14.15pt; vertical-align: middle;">
	<span style="font-size:12px;"><span aldine401="" bt="" color:="" serif=""><br />
	</span></span></p>
<p class="MsoNormal" style="margin-bottom: 0.0001pt; text-indent: 14.15pt; vertical-align: middle;">
	<span style="font-size: 12px;"><span aldine401="" bt="" color:="" serif="">Shrestha came back to his birthplace Kathmandu to pursue High School as a boarder at Ananda Kuti Vidyapith. After graduating from High School, he wanted to study engineering but sacrificed his dream to help his father. Instead, he enrolled for a Bachelor of Science programme in Mathematics at Amrit Science Campus that would allow him more time for business. He started work while in college and gained hands-on experience which would come in handy for his future course in life. Bijayapur Irrigation Project in Pokhara was the first project I handled independently, he proudly states. A firm believer in making a contribution to the country's development, he has been instrumental in diversifying, mechanising and developing the family business.&nbsp;</span></span></p>
<p class="MsoNormal" style="margin-bottom: 0.0001pt; text-indent: 14.15pt; vertical-align: middle;">
	<span style="font-size:12px;"><span aldine401="" bt="" color:="" serif=""><br />
	</span></span></p>
<p class="MsoNormal" style="margin-bottom: 0.0001pt; text-indent: 14.15pt; vertical-align: middle;">
	<span style="font-size: 12px;"><span aldine401="" bt="" color:="" serif="">As a young boy, Shrestha was a tad shy when it came to making acquaintance with girls but never felt that he must have a girlfriend. Times have changed,he sighs. Always having led an orthodox and simple life, his was an arranged marriage. Proud of having fathered three beautiful daughters, he says he doesn't miss having a son, Today, the world has moved on. It's no longer considered a disadvantage not to have a son for an heir. He is confident that all his daughters will make him proud as they grow up. Like father, like daughter his eldest daughter is already on the right path, pursuing her Bachelor in Business Administration degree from Webster University. She is already taking an interest in business matters and shows signs of promise to hold </span></span><span style="font-size: 12px;"><span>the fort when the time comes. </span></span></p>
<p class="MsoNormal" style="margin-bottom: 0.0001pt; text-align: justify; text-indent: 14.15pt; vertical-align: middle;">
	<span style="font-size:12px;"><span aldine401="" bt="" color:="" serif=""><img align="left" alt="persoanlity" border="1" height="522" hspace="5" src="http://www.newbusinessage.com/ckfinder/userfiles/Images/Raju Babu Shrestha1.jpg" style="width: 364px; height: 522px;margin:10px;padding:10px;" vspace="5" width="364" /></span></span></p>
<p class="MsoNormal" style="margin-bottom: 0.0001pt; text-indent: 14.15pt; vertical-align: middle;">
	<span style="font-size: 12px;"><span aldine401="" bt="" color:="" serif=""><br />
	</span></span></p>
<p class="MsoNormal" style="margin-bottom: 0.0001pt; text-indent: 14.15pt; vertical-align: middle;">
	<span style="font-size: 12px;"><span aldine401="" bt="" color:="" serif="">Shrestha does not believe in showing off and hence lives an austere lifestyle. Glamour is not his forte. You will seldom see him wearing expensive suits unless he is attending a business conference or a formal occasion. He is clad in casual wear (read Jeans, T-Shirts, Working boots, Jackets) most of the time as his work involves field (on site) work. He is most comfortable when he is among friends or at an informal gathering as he doesn't have to worry too much about what he is wearing. Shrestha likes to call himself old-fashioned. A family man to the core, he draws inspiration from his wife, She always gives me positive vibes. Whenever he is short on motivation, he looks up to his father from whom he learnt the tricks of the trade. He has always been my role model, he says.&nbsp;</span></span></p>
<p class="MsoNormal" style="margin-bottom: 0.0001pt; text-indent: 14.15pt; vertical-align: middle;">
	<span style="font-size:12px;"><span aldine401="" bt="" color:="" serif=""><br />
	</span></span></p>
<p class="MsoNormal" style="margin-bottom: 0.0001pt; text-indent: 14.15pt; vertical-align: middle;">
	<span style="font-size: 12px;"><span aldine401="" bt="" color:="" serif="">Despite a busy schedule, Shrestha manages to find time to travel within Nepal as well as abroad. Whenever time permits, he sets along to tour a new destination, either with friends or family, in search of nature and adventure. He has already visited 50 districts in Nepal for work or purely on vacation. He has toured a host of foreign countries for business as well as leisure&nbsp; United Kingdom, Japan, Germany, China, Austria, Italy, and Korea to name a few. His favourite cuisines include Korean, Japanese, and Chinese&nbsp; he is only too happy that his favourite cuisines are available in some Kathmandu restaurants as well. Shrestha loves to cook as it helps him de-stress, keep healthy and relax. The best part is that my family loves my cooking too which makes me feel good, he chuckles. <br />
	</span></span></p>
<p class="MsoNormal" style="margin-bottom: 0.0001pt; text-indent: 14.15pt; vertical-align: middle;">
	<span style="font-size:12px;"><span aldine401="" bt="" color:="" serif=""><br />
	</span></span></p>
<p class="MsoNormal" style="margin-bottom: 0.0001pt; text-indent: 14.15pt; vertical-align: middle;">
	<span style="font-size: 12px;"><span aldine401="" bt="" color:="" serif="">You wonder if having achieved so much has made him complacent. On the contrary, Shrestha says that his job is far from finished. â€œI agree that when I think of my early days, I do feel I have achieved a great deal and am satisfied about the whole thing but it has also increased my obligations and responsibilities. To maintain the heights that we have reached is the current challenge, he explains. Shrestha says that wealth creation is not his sole objective. He has everything that a man can want in terms of material needs. He hopes that whatever he does, it should benefit the people of the country. <br />
	</span></span></p>
<p class="MsoNormal" style="margin-bottom: 0.0001pt; text-indent: 14.15pt; vertical-align: middle;">
	<span style="font-size:12px;"><span aldine401="" bt="" color:="" serif=""><br />
	</span></span></p>
<p class="MsoNormal" style="margin-bottom: 0.0001pt; text-indent: 14.15pt; vertical-align: middle;">
	<span style="font-size: 12px;"><span aldine401="" bt="" color:="" letter-spacing:="" serif="">Not the one to rest on his past laurels, Shrestha has several projects up his sleeve. Expanding Cable Car services is one. After the highly successful Manakamana Cable Car that connects Kurintar in Chitwan with Manakamana in Gorkha, there are at least two similar projects in feasibility study phase presently. He is optimistic that the proposed Cable Car projects in Pokhara and Kalinchok (Dolakha), when completed, will facilitate tourism development in the respective areas. He also plans to set up an agricultural machinery and tools enterprise which will import to begin with and get into manufacturing in due course of time.&nbsp; Chitawon Milk is another project that's close to his heart. The company produces skimmed milk powder, baby food, yogurt, butter, and ghee etc. He is hopeful that it will uplift professional cow farming and encourage milk farmers to produce more. This will benefit the economic condition of the farmers as well as the national economy.</span></span></p>
<p class="MsoNormal" style="margin-bottom: 0.0001pt; text-indent: 14.15pt; vertical-align: middle;">
	<span style="font-size:12px;"><span aldine401="" bt="" color:="" letter-spacing:="" serif=""><br />
	</span></span></p>
<p class="MsoNormal">
	<span style="font-size: 12px;"><span aldine401="" bt="" color:="" letter-spacing:="" serif="" style="line-height: 115%;">As if he was not finished yet, Shrestha revealed another aspect of his personality&nbsp; he is an Art Lover. He visits art exhibitions when he can and likes to collect Nepali art. He especially likes buying natural material and even designs them with help from his artist friend Shyam Lal Shrestha. When you step into his living room, you'll find it to be a work-of-art, literally. The ceiling has many blocks of Newari art, each of them symbolising a different meaning. Shrestha says he is very lucky to have a loving family as family binding is most important&nbsp; it helps him remain grounded. <br />
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<p class="MsoNormal">
	<span style="font-size:12px;"><span aldine401="" bt="" color:="" letter-spacing:="" serif="" style="line-height: 115%;"><br />
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<p class="NoParagraphStyle" style="margin-bottom: 5.65pt;">
	<span style="font-size:12px;"><em><span style="color: rgb(0, 0, 0);"><strong><span class="MyriadPro"><span style="line-height: 120%;">''Software Industry in Nepal is Much Bigger than &nbsp;We Think It is''</span></span></strong></span></em></span></p>
<p class="NoParagraphStyle" style="margin-bottom: 5.65pt;">
	<span style="font-size:12px;"><br />
	</span></p>
<p class="questionsforinterview">
	<span style="font-size:12px;"><em><span style="color: rgb(0, 0, 0);"><span class="MyriadPro"><span bt="" frnkgothitc="" hv="" lang="EN-GB" sans-serif=""><img align="left" alt="sanjib" border="1" height="167" hspace="5" src="http://www.newbusinessage.com/ckfinder/userfiles/Images/Sanjib Raj Bhandari1.jpg" style="width: 205px; height: 167px;margin:10px;padding:10px;" vspace="5" width="205" /></span></span></span></em></span></p>
<p class="questionsforinterview" style="text-align: justify;">
	<span style="font-size:12px;"><em><span style="color: rgb(0, 0, 0);"><span class="MyriadPro"><span bt="" frnkgothitc="" hv="" lang="EN-GB" sans-serif="">Sanjib Raj Bhandari</span><span lang="EN-GB"> is the CEO of Mercantile Office Systems, the pioneer company in Nepal's IT sector. Having seen the evolution of sorts in IT in the past two decades, Raj Bhandari himself has effected a sea-change in his business, priorities and processes. At the beginning, his company was a computer distributer in the mid-1980s, became an internet service provider in 1990s, produced own brands of computers in the beginning of 2000, and now in 2011, Mercantile is chiefly a software producing company. Mercantile-produced software are extensively used in Nepal, especially in the banking sector. Raj Bhandari foresees Nepal's great future in IT, as well as expresses concern that we are among the â€œbottom fewâ€ in the global IT map. He says Nepal also lags in South Asia behind India, Pakistan, Sri Lanka and Bangladesh. Excerpts:&nbsp;&nbsp; </span><span lang="EN-GB" style="letter-spacing: -0.1pt;"><br />
	</span></span></span></em></span></p>
<p class="ANSWER" style="text-align: justify;">
	<span style="font-size:12px;"><span style="color: rgb(0, 0, 0);"><strong><span class="MyriadPro"><span lang="EN-GB" style="letter-spacing: -0.1pt;">Your company Mercantile has been considered one of the pioneers in Nepal's IT sector. How do you view the growth of the sector over the period of last two decades?</span></span></strong></span></span></p>
<p class="ANSWER" style="text-align: justify;">
	<span style="font-size:12px;"><span style="color: rgb(0, 0, 0);"><span class="MyriadPro"><span lang="EN-GB" style="letter-spacing: -0.1pt;">The growth has been tremendous over this period. If you look at the very beginning in the early 1990, we had a problem not only with the fact that we were all very new to IT sector, but there were no government policies specially addressing this sector. Computers and its parts were considered luxury items thumbing that the ordinary people do not need them. That psyche was reflected in the government policies. We had a lot of difficulties in doing business not only of hardware but also the software. The policies vis-Ã&nbsp;-vis IT sector were very unfriendly. <br />
	</span></span></span></span></p>
<p class="ANSWER" style="text-align: justify;">
	<span style="font-size:12px;"><span style="color: rgb(0, 0, 0);"><span class="MyriadPro"><span lang="EN-GB" style="letter-spacing: -0.1pt;">We've come a very-very long way. Today the overall policies are very positive. This transformation has helped both the hardware and software industries to grow. There's been a sea of change not only in the IT development but also on how the government and the people at large perceive the IT now.&nbsp; <br />
	</span></span></span></span></p>
<p class="questionsforinterview" style="text-align: justify;">
	<span style="font-size:12px;"><span style="color: rgb(0, 0, 0);"><span class="MyriadPro"><span lang="EN-GB" style="letter-spacing: -0.1pt;">Could you please elaborate on how Mercantile managed to grow to become the market leader as it is now?</span></span></span></span></p>
<p class="ANSWER" style="text-align: justify;">
	<span style="font-size:12px;"><span style="color: rgb(0, 0, 0);"><span class="MyriadPro"><span lang="EN-GB" style="letter-spacing: -0.1pt;">I run a number of IT companies, of which I run two flagship companies from this building (see picture). The first one is Mercantile Office Systems (MOS), which we started in 1985. It concentrated mainly on distribution of computer and IT related products and software development. We started internet business including email under the MOS in 1992-93. The second one is Mercantile Communications which we started in 1995. We did not know too much when we started internet service under the MOS. It was very much exploring and doing things as you go along. We did not have much technical know-how. Internet was completely new. When we started email service in December 1993, email was not available for the public in India. When we started the internet in 1995, commercial internet had just begun in Singapore. It would not begin in India for another 3 or 4 years. So it was very-very new, we would not know what we were doing, we learnt as we went along, we sought help from a lot of people from outside. Today you can go and hire engineers. In those days, we did not find engineers. We had to actually train our own engineers.&nbsp;&nbsp;&nbsp; <strong><br />
	</strong></span></span></span></span></p>
<p class="questionsforinterview" style="text-align: justify;">
	<span style="font-size:12px;"><strong><span style="color: rgb(0, 0, 0);"><span class="MyriadPro"><span lang="EN-GB" style="letter-spacing: -0.1pt;">You have been selling your own Mercantile brand of computers and office systems. Do you see any need to bring changes in your products or services? </span></span></span></strong></span></p>
<p class="ANSWER" style="text-align: justify;">
	<span style="font-size:12px;"><span style="color: rgb(0, 0, 0);"><span class="MyriadPro"><span lang="EN-GB" style="letter-spacing: -0.1pt;">We have been distributing computers since 1985. In the beginning of 2000, we experimented with our own products. We were very successful for two years, but later we could not compete with the international products. The reason was that we needed to be 25 per cent cheaper than the international products and the other products available. In the beginning, we could maintain the difference but later we could not. So, we slowly phased the production out. We don't have the products now. <br />
	</span></span></span></span></p>
<p class="questionsforinterview">
	<span style="font-size:12px;"><strong><span style="color: rgb(0, 0, 0);"><span class="MyriadPro"><span lang="EN-GB" style="letter-spacing: -0.1pt;">Your company software are extensively used by Nepali companies. What distinguishes your products and services from the others?</span></span></span></strong></span></p>
<p class="ANSWER" style="text-align: justify;">
	<span style="font-size:12px;"><span style="color: rgb(0, 0, 0);"><span class="MyriadPro"><span lang="EN-GB" style="letter-spacing: -0.1pt;">I think it is the quality. We have from the very beginning emphasised on quality and we have always maintained ourselves and concentrated on niche market. We have seldom gone for mass market. Most of our services are in the gear to corporates. Some of our products like computer notebooks and communication software are now available for mass marketing. Our services like technical, banking and software services have always been very selective. That's how we actually maintain our profile. <br />
	</span></span></span></span></p>
<p class="questionsforinterview" style="text-align: justify;">
	<span style="font-size:12px;"><strong><span style="color: rgb(0, 0, 0);"><span class="MyriadPro"><span lang="EN-GB" style="letter-spacing: -0.1pt;">Could you tell us where does Nepal stand in the global IT map and what position Nepal has in South Asia? What are the hindrances as well as prospects for the growth of this sector?</span></span></span></strong></span></p>
<p class="ANSWER" style="text-align: justify;">
	<span style="font-size:12px;"><span style="color: rgb(0, 0, 0);"><span class="MyriadPro"><span lang="EN-GB" style="letter-spacing: -0.1pt;">If there were a global IT map, we would find ourselves in the bottom few. I often say that our proximity with India is only in relation to geography. Our proximity with India is not in development scale, manufacturing and specially IT. In South Asia, India is way-way up, then would come Pakistan or Sri Lanka not necessarily in the order, and we would be close behind Bangladesh but it does not mean too much, as we still have a lot of run to cover.&nbsp;&nbsp;&nbsp; <br />
	</span></span></span></span></p>
<p class="ANSWER" style="text-align: justify;">
	<span style="font-size:12px;"><span style="color: rgb(0, 0, 0);"><span class="MyriadPro"><span lang="EN-GB" style="letter-spacing: -0.1pt;">Nonetheless, the software industry in Nepal is much bigger than we think it is. We do not have proper statistics. But my guess is that there are over 5,000 people working in the software industry of Nepal. There are maybe 40 to 50 companies that have employed some 30 to 40 people each. There could be as many as 10 companies with over 100 people in each. Many of these companies are involved in software exports. Their figures do not reflect national figures because many of them do not want to come out in the open as it would create far too big problems for them. And, as their customer base is abroad and as they do not need a formal registration in Nepal, they choose not to be in the legal hassles here. This is something the government really needs to address. &nbsp;&nbsp;&nbsp; </span></span></span></span></p>
<p class="ANSWER" style="text-align: justify;">
	<span style="font-size:12px;"><span style="color: rgb(0, 0, 0);"><span class="MyriadPro"><span lang="EN-GB" style="letter-spacing: -0.1pt;">There are a lot of capabilities within the country to develop software. If you look at the hardware sales, the value addition, in terms services, distribution and warranty the Nepali companies provide, is between 2 to 8 per cent. If you look at the software, the value addition is over 90 per cent. There are some 7-8 companies that are exporting services to where the potential lies.&nbsp;&nbsp; <br />
	</span></span></span></span></p>
<p class="questionsforinterview">
	<span style="font-size:12px;"><strong><span style="color: rgb(0, 0, 0);"><span class="MyriadPro"><span lang="EN-GB" style="letter-spacing: -0.1pt;">How are the government policies impacting on the growth of this sector? </span></span></span></strong></span></p>
<p class="ANSWER" style="text-align: justify;">
	<span style="font-size:12px;"><span style="color: rgb(0, 0, 0);"><span class="MyriadPro"><span lang="EN-GB" style="letter-spacing: -0.1pt;">The government role is obviously very-very important here. But, the software industry does not need, does not look for government leadership and does not make their plans and projects relying or looking at the government action. The private sector must lead. If the government can catch up the pace, it's fine. Otherwise, the growth will find its own path. A great example is the trekking business. When the trekking agencies started in the 1970s, they organised themselves without government aid. Later on, the government came in to issue the licenses to them. The government has policies and has made policies in the past too. But execution has been the problem in Nepal. Emphasis really has to be on execution, not so much on formulating and announcing the policies. <br />
	</span></span></span></span></p>
<p class="questionsforinterview" style="text-align: justify;">
	<span style="font-size:12px;"><strong><span style="color: rgb(0, 0, 0);"><span class="MyriadPro"><span lang="EN-GB" style="letter-spacing: -0.1pt;">Do you see any possibility of government and private sector working together for the development of IT sector?</span></span></span></strong></span></p>
<p class="ANSWER" style="text-align: justify;">
	<span style="font-size:12px;"><span style="color: rgb(0, 0, 0);"><span class="MyriadPro"><span lang="EN-GB" style="letter-spacing: -0.1pt;">Traditionally, we think that the partnership between the government and private sector is fruitful. But, what we have discovered is that the government has very soft corner for IT sector, but still the cooperation has not yielded true fruits. This is not only the fault of the government. I feel the private sector too has not played its part. When you demand so many things from the government, you make your business compatible to the policies and accountable to the country. If you look at any industrial development in Nepal, it has always been private sector led. So the progress has to be made by private sector. If the government assists, it is welcome; if it doesnâ€™t, it need not be bothered.</span> <br />
	</span></span></span></p>
<p class="ANSWER" style="text-align: justify;">
	<span style="font-size:12px;"><span style="color: rgb(0, 0, 0);"><span class="MyriadPro"><span lang="EN-GB" style="letter-spacing: -0.1pt;">As I previously mentioned, the initiatives has been taken by the private sector. However, if the government and the private sector were to cooperate, the government could obviously help with better and improved policies. The government could also help by buying software and looking for solutions, let's say in electricity or telecom companies. This encourages Nepali IT companies to take part. But right now, the terms, conditions and perks in international standards that the government boasts are rather punitive to Nepali companies. I repeat they are not only discriminatory but also punitive. Those companies put such conditions which Nepali companies simply cannot meet. Or, if they can be met, they could be agents only. This is very humiliating. It is fine if the government entertains the business from international companies in the area where Nepali IT companies cannot compete. But the Nepali government is disqualifying the Nepali companies for many other reasons. To correct this, the government need not do too many things. What it can do is to just encourage, invite and qualify Nepali companies to take part in business bidding to provide service for Nepal government and institutions. There could be many areas like e-commerce, trade, billing boards for telecom and other government bodies â€“ where the Nepali companies too can perform well, given little amendment in service procurement mechanism. Therefore, for now it would be enough to revoke the punitive and discriminatory policies on the part of the government; let alone making fancy policies. <br />
	</span></span></span></span></p>
<p class="questionsforinterview" style="text-align: justify;">
	<span style="font-size:12px;"><strong><span style="color: rgb(0, 0, 0);"><span class="MyriadPro"><span lang="EN-GB" style="letter-spacing: -0.1pt;">The Computer Association of Nepal (CAN) and ICT Association of Nepal are holding Info Tech Fairs every year. How do you evaluate the role of these fairs in promoting IT business in the country?</span></span></span></strong></span></p>
<p class="ANSWER" style="text-align: justify;">
	<span style="font-size:12px;"><span style="color: rgb(0, 0, 0);"><span class="MyriadPro"><span lang="EN-GB" style="letter-spacing: -0.1pt;">The CAN and ICT info-tech fair attracts hundreds of thousands of visitors every year. Obviously it plays the central role in awareness, as it educates the public at large. However, it is almost like the flagship event for CAN and ICT. It is important for these organisations to focus and involve in other large events of info-tech. Right now they are perceived as single event institutions. They need to move out of that.&nbsp;&nbsp; <br />
	</span></span></span></span></p>
<p class="questionsforinterview" style="text-align: justify;">
	<span style="font-size:12px;"><strong><span style="color: rgb(0, 0, 0);"><span class="MyriadPro"><span lang="EN-GB">There are some unused infrastructures on IT, one of them being the IT Park in Banepa, Kavre. Why do you think such utilities are almost defunct? </span></span></span></strong></span></p>
<p class="ANSWER" style="text-align: justify;">
	<span style="font-size:12px;"><span style="color: rgb(0, 0, 0);"><span class="MyriadPro"><span lang="EN-GB" style="letter-spacing: -0.1pt;">In 1992, a high level commission was set up to look at the development of IT and the benefits of IT Park. Ten years down the line, many things have changed, in particular the communication technologies. The IT Park is yet to embrace the changes. That could be the major reason for it being a mess.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; <br />
	</span></span></span></span></p>
<p class="questionsforinterview" style="text-align: justify;">
	<span style="font-size:12px;"><strong><span style="color: rgb(0, 0, 0);"><span class="MyriadPro"><span lang="EN-GB">Still, don't you think there is a digital divide prevalent in the country? How do you think such divide can be narrowed down? </span></span></span></strong></span></p>
<p class="ANSWER" style="text-align: justify;">
	<span style="font-size:12px;"><span style="color: rgb(0, 0, 0);"><span class="MyriadPro"><span lang="EN-GB" style="letter-spacing: -0.1pt;">Digital divide is alarming. Only one or two per cent of Nepali people have access to internet and IT in general. Increasing the access of people to IT and telecommunications can lower the digital divide as both these sectors are complimentary and intertwined. The number of people having access to IT and telecommunications is increasing. I'm happy with that and hopeful too.&nbsp;&nbsp; <br />
	</span></span></span></span></p>
<p class="questionsforinterview" style="text-align: justify;">
	<span style="font-size:12px;"><strong><span style="color: rgb(0, 0, 0);"><span class="MyriadPro"><span lang="EN-GB">As a matter of fact, your company operates an online media too. How much do think it has contributed to the growth of online media in Nepal? How economically feasible is it?</span></span></span></strong></span></p>
<p class="ANSWER" style="text-align: justify;">
	<span style="font-size:12px;"><span style="color: rgb(0, 0, 0);"><span class="MyriadPro"><span lang="EN-GB" style="letter-spacing: -0.1pt;">When we established a news portal in 1999, it was definitely not sustainable for the next 5-6 years. But today for the last 3 or 4 years, the portal has been doing fine economically too. We have hired almost 20 people. The portal pays for itself and is also making money. Online media came with more people having access to communication, computer and education. To have access to online media, one must have computer device, must have access to communication and must be educated. In developed markets, the online media has overshadowed the traditional media. I am still doubtful that will happen in Nepal in the foreseeable future. <br />
	</span></span></span></span></p>
<p class="questionsforinterview">
	<span style="font-size:12px;"><strong><span style="color: rgb(0, 0, 0);"><span class="MyriadPro"><span lang="EN-GB" style="letter-spacing: -0.1pt;">Every successful company stores plans for future as well. What about yours? </span></span></span></strong></span></p>
<p class="ANSWER" style="text-align: justify;">
	<span style="font-size:12px;"><span style="color: rgb(0, 0, 0);"><span class="MyriadPro"><span lang="EN-GB" style="letter-spacing: -0.1pt;">We will obviously expand on our communication network. We will expand our institutional network to cover entire country now. In banking software, we expect to grow at least 100 per cent on year basis. We are also looking on international market and we are very hopeful. As of now, over 50 per cent of the banks, over 70 per cent of the development banks and 90 per cent of the finance companies use our software. This covers almost 1000 branches in the country's financial system. Even if you say each branch in average uses this software 20 to 30 times, some 20 to 30 thousand use our software daily.&nbsp;&nbsp;&nbsp;&nbsp; <br />
	</span></span></span></span></p>
<p class="questionsforinterview">
	<span style="font-size:12px;"><strong><span style="color: rgb(0, 0, 0);"><span class="MyriadPro"><span lang="EN-GB" style="letter-spacing: -0.1pt;">What could be the way forward?</span></span></span></strong></span></p>
<p class="ANSWER" style="text-align: justify;">
	<span style="font-size:12px;"><span style="color: rgb(0, 0, 0);"><span class="MyriadPro"><span lang="EN-GB" style="letter-spacing: -0.1pt;">With the growth of communication and education and population as well, the IT sector can only grow. I see its great future in Nepal.&nbsp;</span><span style="letter-spacing: -0.1pt;"> </span></span></span></span></p>
<p class="MsoNormal">
	<span style="font-size:12px;"><span style="color: rgb(0, 0, 0);"><span style="line-height: 115%;">&nbsp;</span></span></span></p>',
			'published' => true,
			'created' => '2011-02-09',
			'modified' => '2012-09-16',
			'keywords' => '',
			'description' => 'Sanjib Raj Bhandari is the CEO of Mercantile Office Systems, the pioneer company in Nepal's IT sector. Having seen the evolution of sorts in IT in the past two decades, Raj Bhandari himself has effected a sea-change in his business, priorities',
			'sortorder' => '143',
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	),
	(int) 11 => array(
		'Article' => array(
			'id' => '205',
			'article_category_id' => '50',
			'title' => 'Feedback February 2011',
			'sub_title' => '',
			'summary' => null,
			'content' => '<p class="MsoNormal" style="margin-bottom: 0.0001pt; line-height: 11pt; vertical-align: middle;">
	<span style="font-size: 12px;"><span style="color: rgb(0, 0, 0);"><span aldine401="" bt="" color:="" serif=""><strong>Going Green With Bicycles</strong><br />
	<br />
	T</span><span aldine401="" bt="" color:="" letter-spacing:="" serif="">here was good news published on January issue of Nubiz about the Laxmi Bank going green. The bank's initiative to encourage staff to ride bicycle to office at least a day in a week is really commendable. That is something every corporate house and company should choose to do. It not only helps make the environment greener but also is a healthy way to reach office.</span></span></span></p>
<p class="MsoNormal" style="margin-bottom: 0.0001pt; line-height: 11pt; vertical-align: middle;">
	<span style="font-size:12px;"><span style="color: rgb(0, 0, 0);"><span aldine401="" bt="" color:="" letter-spacing:="" serif=""><br />
	</span></span></span></p>
<p class="MsoNormal">
	<span style="font-size:12px;"><span style="color: rgb(0, 0, 0);"><span aldine401="" bt="" color:="" letter-spacing:="" serif="">It would be better, if we, the working people, can do it voluntarily rather than imposed by our bosses. Riding a bicycle is the best option over the car or the motorbike. Bicycles also help expand the crowded and squeezed streets like ours. And it also adds some relief to the parking space crisis.</span></span></span></p>
<p class="MsoNormal">
	<span style="font-size:12px;"><span style="color: rgb(0, 0, 0);"><span aldine401="" bt="" color:="" serif="" style="line-height: 115%;">Reading about the green program I am planning to opt for similar way to reach office. And I am surely going to discuss with my colleagues on the greener, healthier and economic way to reach my workstation. But I â'm still not that much sure how much the roads of Kathmandu are suitable for bicycles.</span></span></span></p>
<p class="MsoNormal" style="margin-bottom: 0.0001pt; line-height: 11pt; vertical-align: middle;">
	<span style="font-size:12px;"><span style="color: rgb(0, 0, 0);"><b><span aldine401="" bt="" color:="" serif="">- Binaya Khatiwada</span></b></span></span></p>
<p class="MsoNormal">
	<span style="font-size:12px;"><span style="color: rgb(0, 0, 0);"><b><span aldine401="" bt="" color:="" serif="" style="line-height: 115%;">&nbsp;Kalopul, Kathmandu</span></b></span></span></p>
<p class="MsoNormal">
	<span style="font-size:12px;"><span style="color: rgb(0, 0, 0);"><b><span aldine401="" bt="" color:="" serif="" style="line-height: 115%;"><br />
	</span></b></span></span></p>
<p class="MsoNormal" style="text-align: center;">
	<span style="font-size:12px;"><span style="color: rgb(0, 0, 0);"><b><span aldine401="" bt="" color:="" serif="" style="line-height: 115%;">--------------------------------------------------------------------------------------------------<br />
	</span></b></span></span></p>
<p class="MsoNormal" style="text-align: center;">
	<span style="font-size:12px;"><span style="color: rgb(0, 0, 0);"><b><span aldine401="" bt="" color:="" serif="" style="line-height: 115%;"><br />
	</span></b></span></span></p>
<p class="BODYTEXT" style="text-indent: 0in;">
	<span style="font-size: 14px;"><span style="color: rgb(0, 0, 0);"><b><span aldine401="" bt="" color:="" serif="" style="line-height: 115%;">&nbsp;</span></b><span cond="" demi="" franklin="" gothic="" sans-serif="">Corporate Responsibility&nbsp;&nbsp; <br />
	</span></span></span></p>
<p class="BODYTEXT" style="text-indent: 0in;">
	<span style="font-size:14px;"><span style="color: rgb(0, 0, 0);"><span cond="" demi="" franklin="" gothic="" sans-serif="">&nbsp;&nbsp;&nbsp;&nbsp; </span></span></span></p>
<p class="BODYTEXT" style="text-indent: 0in;">
	<span style="font-size:12px;"><span style="color: rgb(0, 0, 0);">'CSR a Useless Concept ?&nbsp; an article by Catrin Froehlich sparked a thought in my mind. The Nepali corporate houses may claim that they are making huge non-profit contributions to the society in the name of corporate social responsibility (CSR). But as Froehlich rightly pointed out, mostly, there are some long term profit motives attached to any CSR initiative. The corporate houses are always looking for a win-win situation. I don't think business houses pour money into anything in the name of CSR without looking for any return. A bank&nbsp; investing&nbsp; in sponsoring educating students in a school is certain that those students in&nbsp; future will open accounts or buy shares of the bank and also work as the agents to encourage others to&nbsp; buy&nbsp; services and products of that bank. Similarly, they foresee a lot of businesses and calculate the return of CSR activities. On the other hand, CSR activities are the publicity stunts, too, to grab the attention of consumers towards the brand names in less cost than the cost of media advertisements.</span></span></p>
<p class="MsoNormal" style="margin-bottom: 0.0001pt; line-height: 11pt; vertical-align: middle;">
	<span style="font-size:12px;"><span style="color: rgb(0, 0, 0);"><b><span aldine401="" bt="" color:="" serif="">- Srijana Shrestha</span></b></span></span></p>
<p class="MsoNormal">
	<span style="font-size:12px;"><span style="color: rgb(0, 0, 0);"><b><span aldine401="" bt="" color:="" serif="" style="line-height: 115%;">Bhaktapur</span></b></span></span></p>
<p class="MsoNormal">
	<span style="font-size: 12px;"><span style="color: rgb(0, 0, 0);"><b><span aldine401="" bt="" color:="" serif="" style="line-height: 115%;">&nbsp;</span></b></span></span></p>
<p class="MsoNormal" style="text-align: center;">
	<span style="font-size:12px;"><span style="color: rgb(0, 0, 0);"><b><span style="line-height: 115%;">--------------------------------------------------------------------------------------------------</span></b></span></span></p>
<p class="MsoNormal">
	<span style="font-size:12px;"><span style="color: rgb(0, 0, 0);"><b><span style="line-height: 115%;"><br />
	</span></b></span></span></p>
<p class="BODYTEXT" style="text-indent: 0in;">
	<strong><span style="font-size:14px;"><span style="color: rgb(0, 0, 0);"><span cond="" demi="" franklin="" gothic="" sans-serif="">It is HR Solutions</span></span></span></strong></p>
<p class="BODYTEXT" style="text-indent: 0in;">
	<span style="font-size:12px;"><span style="color: rgb(0, 0, 0);">Thank you so much for publishing the HR Kurakani on your reputed magazine.&nbsp; I would like to bring into notice the major mistake in the article i.e. the name of our organization is Real solutions but it has been written in the beginning of the article as HR solutions.</span></span></p>
<p class="BODYTEXT">
	<span style="font-size:12px;"><span style="color: rgb(0, 0, 0);">Thanking you!</span></span></p>
<p class="BODYTEXT" style="text-indent: 0in;">
	<span style="font-size:12px;"><span style="color: rgb(0, 0, 0);"><b>- Kriti</b></span></span></p>
<p class="BODYTEXT" style="text-indent: 0in;">
	<span style="font-size:12px;"><span style="color: rgb(0, 0, 0);"><b>meroJob.com</b></span></span></p>
<p class="BODYTEXT">
	<span style="font-size: 12px;"><span style="color: rgb(0, 0, 0);"><i>(We regret the error. - Ed.)</i></span></span></p>
<p class="BODYTEXT" style="text-align: center;">
	<span style="font-size:12px;"><span style="color: rgb(0, 0, 0);"><i><br />
	</i></span></span></p>
<p class="MsoNormal" style="text-align: center;">
	<span style="font-size:12px;"><span style="color: rgb(0, 0, 0);"><b><span style="line-height: 115%;">--------------------------------------------------------------------------------------------------</span></b></span></span></p>
<p class="MsoNormal">
	<span style="font-size:14px;"><span><span style="color: rgb(0, 0, 0);"><b><span style="line-height: 115%;"><br />
	</span></b></span></span></span></p>
<p class="BODYTEXT" style="text-indent: 0in;">
	<span style="font-size: 14px;"><span style="color: rgb(0, 0, 0);"><span cond="" demi="" franklin="" gothic="" sans-serif="">Chicks Will Grow</span></span></span></p>
<p class="MsoNormal" style="margin-bottom: 0.0001pt; vertical-align: middle;">
	<span style="font-size: 12px;"><span style="color: rgb(0, 0, 0);"><span aldine401="" bt="" color:="" letter-spacing:="" serif="">T</span><span aldine401="" bt="" color:="" letter-spacing:="" serif="">he Cover Story of January 2011 issue titled as Chicks are Growing put forward a very positive picture of poultry business that is growing by 30 per cent annually. This is the industry at the common people's level and it can be operated in the backyard of village homes. Poultry farming can be done by any farmer or anyone interested. It is not only the source of cash for the farmers but also a contributor to the national economy. The Cover Story says it all: this industry is contributing some three per cent to the GDP.</span></span></span></p>
<p class="MsoNormal" style="margin-bottom: 0.0001pt; vertical-align: middle;">
	<span style="font-size:12px;"><span style="color: rgb(0, 0, 0);"><span aldine401="" bt="" color:="" letter-spacing:="" serif=""><br />
	</span></span></span></p>
<p class="MsoNormal" style="margin-bottom: 0.0001pt; line-height: 11pt; vertical-align: middle;">
	<span style="font-size: 12px;"><span style="color: rgb(0, 0, 0);"><span aldine401="" bt="" color:="" letter-spacing:="" serif="">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; It is good that the Nepali poultry farmers are not so much scared now of the diseases like bird flu as they are now more aware about how to fight such incidences when they appear. Meanwhile, the availability of veterinary doctors and medicines is expanding to help the farmers. The availability of big markets in the urban areas is being utilised by the farmers and this industry provides ample evidence that the Nepali farmers are quite adept to adapt to the changing market situation no matter what their level of education may be. <br />
	</span></span></span></p>
<p class="MsoNormal" style="margin-bottom: 0.0001pt; line-height: 11pt; vertical-align: middle;">
	<span style="font-size:12px;"><span style="color: rgb(0, 0, 0);"><span aldine401="" bt="" color:="" letter-spacing:="" serif=""><br />
	</span></span></span></p>
<p class="MsoNormal" style="margin-bottom: 0.0001pt; line-height: 11pt; vertical-align: middle;">
	<span style="font-size: 12px;"><span style="color: rgb(0, 0, 0);"><span aldine401="" bt="" color:="" letter-spacing:="" serif="">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; However, the story also reveals that the per capita consumption of poultry meat is still low in the country.&nbsp; The consumption of poultry products should be encouraged due to its nutritional value. If that can be done, there is even a bigger market prospects. That means more income for the farmers and also the nation. We should not forget the market in our neighbouring countries as well. The quality products will always get a place everywhere. If food processing industries can be established, agro based and especially poultry related business will benefit the most.</span></span></span></p>
<p class="MsoNormal" style="margin-bottom: 0.0001pt; line-height: 11pt; vertical-align: middle;">
	<span style="font-size:12px;"><span style="color: rgb(0, 0, 0);"><span aldine401="" bt="" color:="" letter-spacing:="" serif=""><br />
	</span></span></span></p>
<p class="MsoNormal">
	<span style="font-size:12px;"><span style="color: rgb(0, 0, 0);"><span aldine401="" bt="" color:="" letter-spacing:="" serif="" style="line-height: 115%;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; The trend shows this industry is growing and there is prospect for more growth. The state must be promoting this sector in all possible ways so as to make this business self-reliant and stronger to become even the international supplier. I believe chicks are growing and will continue to grow in the future too.</span></span></span></p>
<p class="MsoNormal">
	<span style="font-size:12px;"><span style="color: rgb(0, 0, 0);"><span aldine401="" bt="" color:="" letter-spacing:="" serif="" style="line-height: 115%;">&nbsp;</span></span></span></p>
<p class="MsoNormal">
	<span style="font-size:12px;"><span style="color: rgb(0, 0, 0);"><b><span aldine401="" bt="" color:="" serif="">- Rabindra Pudasaini</span><br />
	<span aldine401="" bt="" color:="" serif="" style="line-height: 115%;">Chitwan</span></b></span></span></p>',
			'published' => true,
			'created' => '2011-02-07',
			'modified' => '2012-08-28',
			'keywords' => '',
			'description' => 'There was good news published on January issue of Nubiz about the Laxmi Bank going green. The bank's initiative to encourage staff to ride bicycle to office at least a day in a week is really commendable. That is something every corporate house and......',
			'sortorder' => '142',
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	(int) 12 => array(
		'Article' => array(
			'id' => '203',
			'article_category_id' => '47',
			'title' => 'Weaving Dreams & Carpets',
			'sub_title' => '',
			'summary' => null,
			'content' => '<p class="MsoNormal" style="margin-bottom: 0.0001pt; text-align: justify; line-height: normal;">
	<span style="font-size:12px;"><a href="http://www.newbusinessage.com/ckfinder/userfiles/Images/Senon D Lama.jpg"><img align="left" alt="" border="1" height="385" hspace="3" src="http://www.newbusinessage.com/ckfinder/userfiles/Images/Senon D Lama.jpg" style="width: 257px; height: 385px;margin:10px;padding:10px;" vspace="2" width="257" /></a><span color:="" franklingothic-medium="" sans-serif=""> </span><b><span bright="" color:="" lucida="" serif="">Senon D Lama</span></b></span></p>
<p class="MsoNormal" style="margin-bottom: 0.0001pt; text-align: justify; line-height: normal;">
	<span style="font-size:12px;"><i><span bright="" color:="" lucida="" serif="">Chairman and Managing Director,</span></i></span></p>
<p class="MsoNormal" style="margin-bottom: 0.0001pt; text-align: justify; line-height: normal;">
	<span style="font-size:12px;"><i><span bright="" color:="" lucida="" serif="">Senon Carpet Industries,</span></i></span></p>
<p class="MsoNormal" style="margin-bottom: 0.0001pt; text-align: justify; line-height: normal;">
	<span style="font-size:12px;"><i><span bright="" color:="" lucida="" serif="">Hotel Shahanshah Int'l &amp;</span></i></span></p>
<p class="MsoNormal" style="margin-bottom: 0.0001pt; text-align: justify; line-height: normal;">
	<span style="font-size:12px;"><i><span bright="" color:="" lucida="" serif="">System Holder</span></i></span></p>
<p class="MsoNormal" style="margin-bottom: 0.0001pt; text-align: justify; line-height: normal;">
	<span style="font-size:12px;"><span color:="" franklingothic-medium="" sans-serif="">&nbsp;</span></span></p>
<p class="MsoNormal" style="margin-bottom: 0.0001pt; text-align: justify; line-height: normal;">
	<span style="font-size: 12px;"><span color:="" franklingothic-medium="" sans-serif="">When Senon started his business, the production in Nepal was very low as carpets were imported from India. The market in the beginning was non-challenging. We never had to worry that the products would not be sold. The supply was small and the demand was much higher.â€ Unlike today, his company used to decide on quality, design and size, and the buyers used to buy what was available.</span></span></p>
<p class="MsoNormal" style="margin-bottom: 0.0001pt; text-align: justify; line-height: normal;">
	<span style="font-size:12px;"><span color:="" franklingothic-medium="" sans-serif=""><br />
	</span></span></p>
<p class="MsoNormal" style="margin-bottom: 0.0001pt; text-align: justify; line-height: normal;">
	<span style="font-size: 12px;"><i><span aldine401bt-italica="" serif="">By Gaurav Aryal&nbsp; <br />
	</span></i></span></p>
<p class="MsoNormal" style="margin-bottom: 0.0001pt; text-align: justify; line-height: normal;">
	<span style="font-size:12px;"><i><span aldine401bt-italica="" serif=""><br />
	</span></i></span></p>
<p class="MsoNormal" style="margin-bottom: 0.0001pt; text-align: justify; line-height: normal;">
	<span style="font-size:12px;"><span color:="" franklingothic-heavy="" sans-serif="">W</span><span aldine401bt-romana="" color:="" serif="">hen Senon D Lama stepped into the carpet business, he had just a dozen of looms to weave his passion. Now he is a full-fledged carpet businessman with an annual turnover of USD 1 to 1.5 million a year. He has diversified also in hospitality industries. Thus he is the the Chairman and Managing Director of Senon Carpet Industries Pvt Ltd, Hotel Shahanshah International Pvt Ltd and a sports club called the System Holder Pvt Ltd.</span></span></p>
<p class="MsoNormal" style="margin-bottom: 0.0001pt; text-align: justify; line-height: normal;">
	<span style="font-size:12px;"><br />
	Born at the remote highland village of Lo Gaun in Gorkha district, Lama landed in Kathmandu in early 1960s when he was just about 10 years old. He is sorry that he could not get higher education due to the trouble he had to go through being away from home. So, while he was enrolled for the bachelor's level in management, he started work to earn his living at the age of 22.</span></p>
<p class="MsoNormal" style="margin-bottom: 0.0001pt; text-align: justify; line-height: normal;">
	<span style="font-size:12px;"><span aldine401bt-romana="" color:="" serif=""><br />
	</span></span></p>
<p class="MsoNormal" style="margin-bottom: 0.0001pt; text-align: justify; line-height: normal;">
	<span style="font-size:12px;"><span aldine401bt-romana="" color:="" serif="">Lama had gathered some experience in woollen Nepali carpets business. So, he established his own carpet factory with about a dozen looms at Pulchowk. He also set up three carpet shops at the tourist hubs of Sundhara and Mahabouddha of Kathmandu and at the Golden Gate of Patan. Our primary customers were tourists,â€ he says. Lama claims that he was one of the pioneers in the private sector to begin with a carpet industry.<br />
	<br />
	</span></span></p>
<p class="MsoNormal" style="margin-bottom: 0.0001pt; text-align: justify; line-height: normal;">
	<span style="font-size:12px;"><span aldine401bt-romana="" color:="" serif="">I was, from the very beginning, passionate about colours and designs. I loved to play with them, he recollects the moment he began his career: One of my friends used to own a carpet shop. I used to see him having good time, going to movies and still making money. The tourists would visit his shop and buy the carpets as souvenirs paying handsome amount of money.He remembers yet another friend who was in the restaurant business and was having a tough time pleasing the customers. I compared them one watching movies, chatting and making money while another struggling to maintain his business. So, I ended up in the first business, Lama says. His same friend who owned the carpet shop was also in the car reconditioning business and he asked lama if he could buy the shop. He instantly accepted the offer and bought his friend's shop.<br />
	<br />
	</span></span></p>
<p class="MsoNormal" style="margin-bottom: 0.0001pt; text-align: justify; line-height: normal;">
	<span style="font-size:12px;"><span aldine401bt-romana="" color:="" serif="">His family back home had no idea as to what young Senon was doing. In the third year of the business, his father arrived Kathmandu unannounced.<br />
	<br />
	</span></span></p>
<p class="MsoNormal" style="margin-bottom: 0.0001pt; text-align: justify; line-height: normal;">
	<span style="font-size:12px;"><span aldine401bt-romana="" color:="" serif="">Seeing me travelling mostly by taxi, my father said I squander a lot of money At the same time, he was tremendously delighted as well as shocked to see that I was simultaneously operating three shops at three different locations of the city.<br />
	<br />
	</span></span></p>
<p class="MsoNormal" style="margin-bottom: 0.0001pt; text-align: justify; line-height: normal;">
	<span style="font-size:12px;"><span aldine401bt-romana="" color:="" serif="">When Lama started his business, the production in Nepal was very low as carpets were imported from India. The market in the beginning was nonchallenging. We never had to worry that the products would not be sold. The supply was small and the demand was much higher. Unlike today, his company used to decide on quality, design and size, and the buyers used to buy what was available. Gradually Nepal made carpets started to be viewed as fahion items. The foreigners were using them not as floorings but as pieces of art hung on the wall. International designers then started coming in with their own designs mostly the western ones.<br />
	<br />
	<br />
	In the beginning of 1980s, the export of carpet kicked off. And Lama's business took off the major flight in 1982 when a big warehouse bought all the carpets from all his three shops. Lama never had to look back since then. In 1983, I did not have the time to pay attention to my local shops, as I was focused on the export business. His company, named as Senon Enterprise, expanded in the following years. In 1988, the company was renamed as Senon Carpet Industries.<br />
	<br />
	</span></span></p>
<p class="MsoNormal" style="margin-bottom: 0.0001pt; text-align: justify; line-height: normal;">
	<span style="font-size:12px;"><span aldine401bt-romana="" color:="" serif="">Lama's success reached a new height during the 1990s when the number of employees working for him reached 1400. Comparing the situation then and now, Lama says, There used to be the mass production and mass export then. Today's business is mostly order-based.<br />
	<br />
	</span></span></p>
<p class="MsoNormal" style="margin-bottom: 0.0001pt; text-align: justify; line-height: normal;">
	<span style="font-size:12px;"><span aldine401bt-romana="" color:="" serif="">He reveals that his company is now working for the year 2012. We completed our production last year for 2011 and the catalogue for that was ready in September 2010. Catalogue for 2012 </span><span aldine401bt-romana="" serif="">will be ready in 2011 September. He further says the planning and research for the design for 2013 is going on. He himself goes through hundreds of designs and decides which of them would suit for which of the quality of the carpets he will produce. We have to go into serious research before making any commitment. <br />
	<br />
	</span></span></p>
<p class="MsoNormal" style="margin-bottom: 0.0001pt; text-align: justify; line-height: normal;">
	<span style="font-size:12px;"><span aldine401bt-romana="" serif="">The wage rate, the labour law, and the price of the raw material have to be speculated for the coming years before making such commitment, he says.<br />
	<br />
	</span></span></p>
<p class="MsoNormal" style="margin-bottom: 0.0001pt; text-align: justify; line-height: normal;">
	<span style="font-size:12px;"><span aldine401bt-romana="" serif="">Today, Lama exports his carpets to Germany, the Netherlands, UK, USA, Mexico, Japan, and Australia, to name a few. From these destinations, the same carpets are exported to other countries as well.<br />
	<br />
	</span></span></p>
<p class="MsoNormal" style="margin-bottom: 0.0001pt; text-align: justify; line-height: normal;">
	<span style="font-size:12px;"><span aldine401bt-romana="" serif="">Apart from the carpet industry, Lama is also the proud owner of Hotel Shahanshah, System Holder, a sports club and some real estate businesses. Besides, he is into social work too. No matter how many ventures I do have, carpet business is the most precious one and close to my life. I am never going to detach it from my life though I may have to return back to a dozen looms again, he says. This is my religion. This business cannot be evaluated on mere profit and loss.<br />
	<br />
	</span></span></p>
<p class="MsoNormal" style="margin-bottom: 0.0001pt; text-align: justify; line-height: normal;">
	<span style="font-size:12px;"><span aldine401bt-romana="" serif="">For Lama, failure is not the reason to regret. He says he never regrets his past. He feels blessed to be able to see the whole world, though born in one of the remotest corners of the world. The excitement he had when he first bought the motorbike is the moment he never forgets. When I first bought my motorbike, I was so excited and felt the sense of&nbsp;&nbsp; achievement. I don't feel the same when I buy a new car now.Lama says work is his passion and hobby. He enjoys his work as much as the sports like football and hockey. There are professionals to look after his other businesses, but in the carpet business he insists to go through every minutest detail on his own. He has never fired any worker till date. He credits his success to his workers. He pays his staff at the production line on the weekly basis while those in other lines are paid on monthly basis. Altogether 700 persons work for him now though this number was about 1400 in the 1990s.<br />
	<br />
	</span></span></p>
<p class="MsoNormal" style="margin-bottom: 0.0001pt; text-align: justify; line-height: normal;">
	<span style="font-size:12px;"><span aldine401bt-romana="" serif="">Lama has worked for 36 years and says, every day, I have spent 12 to 16 hours in my work. He is already 60 but has not thought of retiring. I'm not tired, so no question of being retired, he quips. Retirement kills you psychologically, makes body slow and reduces the stamina.â€ He thinks he can work for the next 15 years.<br />
	<br />
	</span></span></p>
<p class="MsoNormal" style="margin-bottom: 0.0001pt; text-align: justify; line-height: normal;">
	<span style="font-size:12px;"><span aldine401bt-romana="" serif="">Lama says human body is a temple. We have to worship it. We should not put junks into it, he says revealing the secret of being healthy. Another secret is his regimen of physical exercises. In olde days, he used to spend at least one and half hour a day in sports. He used to wake up at 4 in the morning and rush to the tennis court at The Everest Hotel. Currently, he is spending at least 30 to 40 minutes a day exercising. In his free time, he loves listening to music of all genre from Nepali to English pops to fast beats. He says he is not able to give a lot of time to his family. He sometimes works on Saturdays too. I want to see them laughing. I have to listen to everybody to make them happy. Sometimes, there is a conflict of interest. But I try to address everyone's wishes, he says.<br />
	<br />
	</span></span></p>
<p class="MsoNormal" style="margin-bottom: 0.0001pt; text-align: justify; line-height: normal;">
	<span style="font-size:12px;"><span aldine401bt-romana="" serif="">Lama has plans to expand his business in the promising tourism sector. Now I have almost 12 years of experience in the hotel industry. I am quite confident about expanding it. Most probably he will set up a spa.&nbsp; </span></span></p>
<p class="MsoNormal" style="margin-bottom: 0.0001pt; text-align: justify; line-height: normal;">
	<span style="font-size:12px;"><span aldine401bt-romana="" serif="">&nbsp;</span></span></p>
<p class="MsoNormal" style="margin-bottom: 0.0001pt; text-align: justify; line-height: normal;">
	<span style="font-size:12px;"><strong><span style="color: rgb(178, 34, 34);"><span color:="" franklingothic-heavy="" sans-serif="">PERSONAL SIDE</span></span></strong></span></p>
<ul>
	<li>
		<span style="font-size:12px;"><span franklingothic-medium="" sans-serif="">Loves music. Narayan Gopal is his favourite Nepali artist. He also listens to Celine Dion, Mariah Carey, Eric Clapton, Bryan Adams and Michael Jackson among others</span><br />
		</span></li>
	<li>
		<span style="font-size:12px;"><span franklingothic-medium="" sans-serif="">Likes collecting magazines from around the world </span><br />
		</span></li>
	<li>
		<span style="font-size:12px;"><span franklingothic-medium="" sans-serif="">Tennis, squash, bowling are his favourite sports </span><br />
		</span></li>
	<li>
		<span style="font-size:12px;"><span franklingothic-medium="" sans-serif="">Does not have passion for books but dreams to read them in future </span><br />
		</span></li>
	<li>
		<span style="font-size:12px;"><span franklingothic-medium="" sans-serif="">Not brand conscious, very casual</span><br />
		</span></li>
	<li>
		<span style="font-size:12px;"><span franklingothic-medium="" sans-serif="">Likes cars and currently drives Toyota Prado</span><br />
		</span></li>
	<li>
		<span style="font-size:12px;"><span franklingothic-medium="" sans-serif="">Has driven fi ve different bikes until now </span><br />
		</span></li>
	<li>
		<span style="font-size:12px;"><span franklingothic-medium="" sans-serif="">Also involved in social activities <br />
		</span><br />
		</span></li>
</ul>',
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			'created' => '2011-01-28',
			'modified' => '2012-09-17',
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			'description' => 'When Senon started his business, the production in Nepal was very low as carpets were imported from India. The market in the beginning was non-challenging. We never had to worry that the products would not be sold. The supply was small and the demand was much higher. Unlike today, his company used to decide on quality,',
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			'title' => 'Where Is CEO Charisma ?',
			'sub_title' => '',
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			'content' => '<p class="MsoNormal" style="text-align: justify;">
	<span style="font-size:12px;"><i><span bright="" lucida="" serif="" style="line-height: 115%;"><a href="http://www.newbusinessage.com/ckfinder/userfiles/Images/small.jpg" target="_blank"><img align="left" alt="nolaughingmatter" border="1" height="143" hspace="5" src="http://www.newbusinessage.com/ckfinder/userfiles/Images/small.jpg" style="width: 105px; height: 143px;margin:10px;padding:10px;" vspace="5" width="105" /></a></span></i></span></p>
<p class="MsoNormal" style="margin-bottom: 0.0001pt; text-align: justify; line-height: normal;">
	<span style="font-size: 12px;"><i><span bright="" lucida="" serif="" style="line-height: 115%;">&nbsp;</span></i><span color:="" franklingothic-heavy="" sans-serif="">T</span><span aldine401bt-romana="" color:="" serif="">he very recent hot topic for news in our media has been the pay of CEOs in bank and financial institutions. No sooner the central bank issued a notice called directive, the wowed aspects of their pay spilled to the public gaze. CEOs started to cry a foul by the central bank in the D area of their respective bank boards. NRB people tried to defend their move claiming nothing less than ˜this directive will not have any effect to the pay CEOs are now enjoying. But this neither stopped the media hype nor did the crying pitch of CEOs reduce. <br />
	</span></span></p>
<p class="MsoNormal" style="margin-bottom: 0.0001pt; text-align: justify; line-height: normal;">
	<span style="font-size:12px;"><span aldine401bt-romana="" color:="" serif=""><br />
	</span></span></p>
<p class="MsoNormal" style="margin-bottom: 0.0001pt; text-align: justify; line-height: normal;">
	<span style="font-size: 12px;"><span aldine401bt-romana="" color:="" serif="">You may wonder what is so big deal about it? Why is everyone from the governor of Nepal Rastra Bank and the government secretaries to the media after the CEO's salary? Are CEOs really overpaid? For that matter, are the rank-and-file workers underpaid? <br />
	</span></span></p>
<p class="MsoNormal" style="margin-bottom: 0.0001pt; text-align: justify; line-height: normal;">
	<span style="font-size:12px;"><span aldine401bt-romana="" color:="" serif=""><br />
	</span></span></p>
<p class="MsoNormal" style="margin-bottom: 0.0001pt; text-align: justify; line-height: normal;">
	<span style="font-size: 12px;"><span aldine401bt-romana="" color:="" serif="">Only in a cursory look, one may find that it is not the question of CEOs getting less or more but the fact of the matter is : these CEOs are simply uncharismatic and don't know how to buy great things with small pay. Lack of this quality in them raises larger question of would these people at the helm help the institution earn more by spending less. <br />
	</span></span></p>
<p class="MsoNormal" style="margin-bottom: 0.0001pt; text-align: justify; line-height: normal;">
	<span style="font-size:12px;"><span aldine401bt-romana="" color:="" serif=""><br />
	</span></span></p>
<p class="MsoNormal" style="margin-bottom: 0.0001pt; text-align: justify; line-height: normal;">
	<span style="font-size: 12px;"><span aldine401bt-romana="" color:="" serif=""><a href="http://www.newbusinessage.com/ckfinder/userfiles/Images/no laughin.jpg" target="_self"><img align="left" alt="nolaughingmatter" border="1" height="198" hspace="5" src="http://www.newbusinessage.com/ckfinder/userfiles/Images/no laughin.jpg" style="width: 217px; height: 198px;margin:10px;padding:10px;" vspace="5" width="217" /></a>Take an example of a government section officer or an undersecretary; he might hardly draw more than Rs. fifteen thousand a month. But in five years, he will have at least a new house in Kathmandu, a four wheeler and a wife who wears ornaments of a few hundred thousand, if not millions, rupees.</span></span></p>
<p class="MsoNormal" style="margin-bottom: 0.0001pt; text-align: justify; line-height: normal;">
	<span style="font-size:12px;"><span aldine401bt-romana="" color:="" serif=""><br />
	</span></span></p>
<p class="MsoNormal" style="margin-bottom: 0.0001pt; text-align: justify; line-height: normal;">
	<span style="font-size: 12px;"><span aldine401bt-romana="" color:="" serif="">And, the most important thing is, he never complaints about the salary, and the government unlike the Rastra Bank does not send out a memo to reduce his pay. Why can't these folks called CEOs have that sort of creative acumen to manage things like that on their own? They surely lack ability to manage and choose to beg at least not to cut what they get. <br />
	</span></span></p>
<p class="MsoNormal" style="margin-bottom: 0.0001pt; text-align: justify; line-height: normal;">
	<span style="font-size:12px;"><span aldine401bt-romana="" color:="" serif=""><br />
	</span></span></p>
<p class="MsoNormal" style="margin-bottom: 0.0001pt; text-align: justify; line-height: normal;">
	<span style="font-size: 12px;"><span aldine401bt-romana="" color:="" serif="">By now it is evident that our CEOs are unable to pull and pool the recourses. Even worse, they don't learn from the big people. Look at how our supply minister manages his supply of petrol free of cost from the Oil Corporation. And how unremorsefully the chief of the Corporation, who is also the CEO of another breed, helps meet the end of his patron is more of a lesson. Having seen so many deficiencies in them, it is hard to believe that most CEOs in Nepal's BF's are intelligent, have advanced degrees often from one of the top universities in the world and work some sixty or more hours a week. <br />
	</span></span></p>
<p class="MsoNormal" style="margin-bottom: 0.0001pt; text-align: justify; line-height: normal;">
	<span style="font-size:12px;"><span aldine401bt-romana="" color:="" serif=""><br />
	</span></span></p>
<p class="MsoNormal" style="margin-bottom: 0.0001pt; text-align: justify; line-height: normal;">
	<span style="font-size: 12px;"><span aldine401bt-romana="" color:="" serif="">Therefore, to convince at least to their hawkish supervisor called Ratra Bank that they are deserving enough to draw a handsome salary and perks, these CEOs must mend their ways that suits the indigenous soil. They must stop demanding this and that facility or mercy from the Rastra Bank. Instead, they can learn from the supervisors there. Drawing salary purse from the office, many NRB supervisors spend their day dealing with personal business of bonds or share trade or reaches to the political mentor of the choice. Effectively, s/he would earn in a day what a CEO earns in a month. Isnt it something to be inspired about ? <br />
	</span></span></p>
<p class="MsoNormal" style="margin-bottom: 0.0001pt; text-align: justify; line-height: normal;">
	<span style="font-size: 12px;"><span aldine401bt-romana="" color:="" serif=""><br />
	</span></span></p>
<p class="MsoNormal" style="margin-bottom: 0.0001pt; text-align: justify; line-height: normal;">
	 </p>
<p class="MsoNormal" style="margin-bottom: 0.0001pt; text-align: justify; line-height: normal;">
	<span style="font-size:12px;"><span aldine401bt-romana="" color:="" serif=""><br />
	</span></span></p>',
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			'created' => '2011-01-16',
			'modified' => '2012-09-16',
			'keywords' => '',
			'description' => 'The very recent hot topic for news in our media has been the pay of CEOs in bank and financial institutions. No sooner the central bank issued a notice called directive, the wowed aspects of their pay spilled to the public gaze. CEOs started to cry a foul by the central bank in the D area',
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			'title' => 'Gopal Sunder Lal Kakshapati',
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<p class="MsoNormal" style="margin-bottom: 0.0001pt; text-align: justify; line-height: normal;">
	<strong><span style="font-size: 12px;"><span style="color: rgb(0, 0, 0);"><span style="background-color: rgb(240, 255, 240);">'I See Prospects in Herbs, Tourism and of course, Carpet'</span></span></span></strong></p>
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	<strong><span style="font-size: 12px;"><span style="color: rgb(0, 0, 0);"><br />
	<img alt="" border="1" height="270" hspace="5" src="http://newbusinessage.com/ckfinder/userfiles/Images/572699_512919295_905742336_n.jpg" vspace="5" width="180" /><br />
	<br />
	</span></span></strong></p>
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	<span style="font-size: 12px;"><span style="color: rgb(0, 0, 0);"><em>Gopal Sunder Lal Kakshapati is the newly elected President of Nepal-German Chamber of Commerce and Industry (NGCCI). Kakshapati, in an interview with Nubiz, says his basic priority would be to revive and maintain the old trade surplus figure that Nepal had been enjoying in the past with Germany, now a key member of the European Union. With the nose-diving of carpet and garment exports, Nepal has nothing much to offer to German market. Still, Kakshapati is hopeful that the branding of some of Nepal's food products such as tea and coffee and attracting more German tourists to Nepal can still help get the old trade figures back. Excerpts:</em></span></span></p>
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	<span style="font-size: 12px;"><span style="color: rgb(0, 0, 0);"><em><br />
	</em></span></span></p>
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	<strong><span style="font-size: 12px;"><span style="color: rgb(0, 0, 0);">What is your new vision as the new president of Nepal-German Chamber of Commerce and Industry?</span></span></strong></p>
<p class="MsoNormal" style="margin-bottom: 0.0001pt; text-align: justify; line-height: normal;">
	<strong><span style="font-size: 12px;"><span style="color: rgb(0, 0, 0);"><br />
	</span></span></strong></p>
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	<span style="font-size: 12px;"><span style="color: rgb(0, 0, 0);">I have segregated it into two parts. The chamber is 18 years old. Some of its legacies I have to carry on. I cannot opt out of the regular programmes the Chamber has been doing. For example, the Chamber has been promoting Nepal's tourism in Germany since 1994. It is called CMT Caravan Motor Touristic. It is a very popular fair in Germany. More than one million people visit the fair each year. So, it must continue. Besides, there are some other regular programmes which I will continue. That is the first part of my aim. As for the new vision, I want to expand whatever economic ties exist between Nepal and Germany. If you look at the overall figures for the past one year or two, our overall trade balance has not been in our favour. But Germany is one country with which we have trade surplus. But the margin of that surplus is now decreasing. I want to bring it back at least to the old figures. That is my main aim.</span></span></p>
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	<span style="font-size:12px;"><span style="color: rgb(0, 0, 0);"><br />
	</span></span></p>
<p class="MsoNormal" style="margin-bottom: 0.0001pt; text-align: justify; line-height: normal;">
	<span style="font-size: 12px;"><span style="color: rgb(0, 0, 0);">Germans are looking for new products from Nepal. For example, Nepali tea and coffee have entered into the German market but lack effective branding. I would like to brand it as Nepali tea or Nepali coffee. I see a scope there. Likewise, we are always talking about Nepali herbal and similar products. Herbal is one product which a lot of developed countries are eyeing on. Nepal is so rich in herbal resources. If we produce and market it, Germany would be one of the very popular destinations for these products.</span></span></p>
<p class="MsoNormal" style="margin-bottom: 0.0001pt; text-align: justify; line-height: normal;">
	<span style="font-size:12px;"><span style="color: rgb(0, 0, 0);"><br />
	</span></span></p>
<p class="MsoNormal" style="margin-bottom: 0.0001pt; text-align: justify; line-height: normal;">
	<span style="font-size: 12px;"><span style="color: rgb(0, 0, 0);">Similarly, besides exporting to Germany, I want to work on capacity building in the country to export different products from Nepal. The Chamber has the past history of such works. For example, it organised a tea seminar in Ilam some years ago. We invited experts from Germany one as the market expert and another as the product expert. These experts directly interacted with the tea producers regarding the choice of taste of Germans and market situation there. That proved very effective. I want to do the same for other products also, for example, herbal, as I have mentioned. <br />
	</span></span></p>
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	<span style="font-size:12px;"><span style="color: rgb(0, 0, 0);"><br />
	</span></span></p>
<p class="MsoNormal" style="margin-bottom: 0.0001pt; text-align: justify; line-height: normal;">
	<span style="font-size: 12px;"><span style="color: rgb(0, 0, 0);">Nepal's herbal products are yet to be processed and branded well. In the case of coffee too, we have to enhance our quality. Today, it is soothing to see professionals involved in coffee production. The bottom-line again is that we have to increase the quantity and improve the quality. When we work with a developed country, quality is always the first priority to have an access into their market.</span></span></p>
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	<span style="font-size:12px;"><span style="color: rgb(0, 0, 0);"><br />
	</span></span></p>
<p class="MsoNormal" style="margin-bottom: 0.0001pt; text-align: justify; line-height: normal;">
	<span style="font-size: 12px;"><span style="color: rgb(0, 0, 0);">During my travel to Germany I found that Nepali business community has not been able to explore the existing opportunities in terms of machinery, information, etc. There are only a handful who have done so. I think Nepali businessmen should also go to the expos in the places in Germany so as to learn things and gain expertise. Therefore, I am also in favour of promoting exchange visits of business people between the two countries.</span></span></p>
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	<span style="font-size:12px;"><span style="color: rgb(0, 0, 0);"><br />
	</span></span></p>
<p class="MsoNormal" style="margin-bottom: 0.0001pt; text-align: justify; line-height: normal;">
	<strong><span style="font-size: 12px;"><span style="color: rgb(0, 0, 0);">How do you think the Nepal Germany trade relation can be made favourable to Nepal? <br />
	</span></span></strong></p>
<p class="MsoNormal" style="margin-bottom: 0.0001pt; text-align: justify; line-height: normal;">
	<strong><span style="font-size:12px;"><span style="color: rgb(0, 0, 0);"><br />
	</span></span></strong></p>
<p class="MsoNormal" style="margin-bottom: 0.0001pt; text-align: justify; line-height: normal;">
	<span style="font-size: 12px;"><span style="color: rgb(0, 0, 0);">As I said earlier, Germany is one country where Nepal has trade surplus. But we should not be content with whatever trade figure we have. The Chamber in the past has worked with DIHL which is the authority in Germany to expand trade relation between any countries. When I visited their office in Germany, I found that they have given very tiny space to Nepal. They showed me the huge trade volume they had with China. Through the exchange of visits and co-work among various chambers in Germany, I think we may be able to increase the trade prospects of Nepal. <br />
	</span></span></p>
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	<span style="font-size:12px;"><span style="color: rgb(0, 0, 0);"><br />
	</span></span></p>
<p class="MsoNormal" style="margin-bottom: 0.0001pt; text-align: justify; line-height: normal;">
	<strong><span style="font-size: 12px;"><span style="color: rgb(0, 0, 0);">Even the European countries are removing Nepal from the list of â€œpreferential trading partner very shortly. How can your Chamber contribute to retaining Nepal's status as a beneficiary of developing country concession of EU?</span></span></strong></p>
<p class="MsoNormal" style="margin-bottom: 0.0001pt; text-align: justify; line-height: normal;">
	<strong><span style="font-size:12px;"><span style="color: rgb(0, 0, 0);"><br />
	</span></span></strong></p>
<p class="MsoNormal" style="margin-bottom: 0.0001pt; text-align: justify; line-height: normal;">
	<span style="font-size: 12px;"><span style="color: rgb(0, 0, 0);">Yes, I also heard that. It is an agenda for me to talk with the EU representatives in Nepal first and find out what was the reason behind it. There could be so many reasons, and I will work on how to address the situation. First and the foremost, I must know the reasons. After that, we the Chamber and other organisations like the carpet association, etc can lobby together. I will also work closely with German development institutions like GTZ. We, as individual organisations and with others jointly, will lobby to retain our position in the EU.</span></span></p>
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	<span style="font-size:12px;"><span style="color: rgb(0, 0, 0);"><br />
	</span></span></p>
<p class="MsoNormal" style="margin-bottom: 0.0001pt; text-align: justify; line-height: normal;">
	<strong><span style="font-size: 12px;"><span style="color: rgb(0, 0, 0);">Nepal-German Chamber of Commerce and Industry is one the oldest bilateral chambers in Nepal. How do you view its achievements?</span></span></strong></p>
<p class="MsoNormal" style="margin-bottom: 0.0001pt; text-align: justify; line-height: normal;">
	<strong><span style="font-size:12px;"><span style="color: rgb(0, 0, 0);"><br />
	</span></span></strong></p>
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	<span style="font-size: 12px;"><span style="color: rgb(0, 0, 0);">I think it was the first bi-national chamber in Nepal. The establishment of the Chamber introduced the concept of bi-national chambers in our country. Some 18 years ago, nobody thought of a bi-national chamber could be so important. One of the major achievements of the Chamber is that we have been able to join hands with various German trade bodies and even development agencies like GTZ. The Chamber has enhanced and promoted ties between Nepal and Germany. An example is tourism. The Chamber has been instrumental in the arrival of German tourists in Nepal as well for expanding market of Nepali products such as carpet and garment in Germany. From time and again, we have been taking business delegations to Germany. Such steps are helpful in strengthening trade links.</span></span></p>
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	<span style="font-size:12px;"><span style="color: rgb(0, 0, 0);"><br />
	</span></span></p>
<p class="MsoNormal" style="margin-bottom: 0.0001pt; text-align: justify; line-height: normal;">
	<strong><span style="font-size: 12px;"><span style="color: rgb(0, 0, 0);">Most of the economic activities in EU seem to be consolidated under EU umbrella. Do you think the bilateral trade relations of a country like Nepal with individual member countries of EU hold long term importance?</span></span></strong></p>
<p class="MsoNormal" style="margin-bottom: 0.0001pt; text-align: justify; line-height: normal;">
	<strong><span style="font-size:12px;"><span style="color: rgb(0, 0, 0);"><br />
	</span></span></strong></p>
<p class="MsoNormal" style="margin-bottom: 0.0001pt; text-align: justify; line-height: normal;">
	<span style="font-size: 12px;"><span style="color: rgb(0, 0, 0);">Though EU has certain umbrella policies, bilateral trade&nbsp;&nbsp; relations too hold importance. There are layer of two policies in EU: one is at macro level, i.e., the umbrella policy, and another at the micro-level, i.e., the individual country's policies. Both policies work together. I don't think the situation will change so drastically in a very short period of time. Our chamber has a direct link to the German trade bodies. Of course, there is a big umbrella called EU but within that big umbrella, there are small umbrellas too. <br />
	</span></span></p>
<p class="MsoNormal" style="margin-bottom: 0.0001pt; text-align: justify; line-height: normal;">
	<span style="font-size:12px;"><span style="color: rgb(0, 0, 0);"><br />
	</span></span></p>
<p class="MsoNormal" style="margin-bottom: 0.0001pt; text-align: justify; line-height: normal;">
	<strong><span style="font-size: 12px;"><span style="color: rgb(0, 0, 0);">What do you think are the areas Nepal can benefit in the trade with Germany?</span></span></strong></p>
<p class="MsoNormal" style="margin-bottom: 0.0001pt; text-align: justify; line-height: normal;">
	<strong><span style="font-size:12px;"><span style="color: rgb(0, 0, 0);"><br />
	</span></span></strong></p>
<p class="MsoNormal" style="margin-bottom: 0.0001pt; text-align: justify; line-height: normal;">
	<span style="font-size: 12px;"><span style="color: rgb(0, 0, 0);">If we talk about trade from Germany to Nepal, there are so many factors. We have members who have the business of &nbsp;German medical equipments in Nepal. And there is possibility of cooperation in hydroelectricity development. There are so many other sectors like Information Technology, in which Nepal can attract investments. Germany being a highly developed country, Nepal can learn many things from it.</span></span></p>
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	<span style="font-size:12px;"><span style="color: rgb(0, 0, 0);"><br />
	</span></span></p>
<p class="MsoNormal" style="margin-bottom: 0.0001pt; text-align: justify; line-height: normal;">
	<strong><span style="font-size: 12px;"><span style="color: rgb(0, 0, 0);">Despite our almost half a century long trade relation, where do you think Nepal lacked taking advantage from the German market?</span></span></strong></p>
<p class="MsoNormal" style="margin-bottom: 0.0001pt; text-align: justify; line-height: normal;">
	<strong><span style="font-size:12px;"><span style="color: rgb(0, 0, 0);"><br />
	</span></span></strong></p>
<p class="MsoNormal" style="margin-bottom: 0.0001pt; text-align: justify; line-height: normal;">
	<span style="font-size: 12px;"><span style="color: rgb(0, 0, 0);">I think, what Nepal lacks is its own confidence. The political and social situations, among other factors, are responsible for that. We have not been able to use the potentials that the German cooperation offers to us. A number of joint venture companies have shut down because of our own reasons, such as the lack of security. We have a recent example. One executive member who had been manufacturing garments shifted his office elsewhere from the previous location owing to violence and security lapses. So, there indeed was opportunity which we could not simply tap.</span></span></p>
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	<span style="font-size:12px;"><span style="color: rgb(0, 0, 0);"><br />
	</span></span></p>
<p class="MsoNormal" style="margin-bottom: 0.0001pt; text-align: justify; line-height: normal;">
	<strong><span style="font-size: 12px;"><span style="color: rgb(0, 0, 0);">What are the major export items of Nepal to Germany? <br />
	</span></span></strong></p>
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	<strong><span style="font-size:12px;"><span style="color: rgb(0, 0, 0);"><br />
	</span></span></strong></p>
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	<span style="font-size: 12px;"><span style="color: rgb(0, 0, 0);">If you look at the old data, 80 per cent of the trade is occupied by carpet and garment. Gradually, food market such as tea and coffee is also coming in. Nepal has very limited products to export. We have to increase their quality. We don't have much choice.</span></span></p>
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	<span style="font-size:12px;"><span style="color: rgb(0, 0, 0);"><br />
	</span></span></p>
<p class="MsoNormal" style="margin-bottom: 0.0001pt; text-align: justify; line-height: normal;">
	<strong><span style="font-size: 12px;"><span style="color: rgb(0, 0, 0);">What are the challenges in Nepal-German trade?</span></span></strong></p>
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	<strong><span style="font-size: 12px;"><span style="color: rgb(0, 0, 0);"><br />
	</span></span></strong></p>
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	<span style="font-size: 12px;"><span style="color: rgb(0, 0, 0);">The most pertinent challenges are seen in the tourism sector. If we compare the data of German tourists arrival in Nepal, it was 45 to 55 thousand in 1998. Now it has decreased to 20 to 25 thousand only. It is the biggest challenge why have we not been able to attract German tourists as in the 1990s or the 80s? Second challenge is on retaining the market for our carpet. Its export has now nosedived compared to the previous years.</span></span></p>
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	<span style="font-size:12px;"><span style="color: rgb(0, 0, 0);"><br />
	</span></span></p>
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	<strong><span style="font-size: 12px;"><span style="color: rgb(0, 0, 0);">Do you have German collaboration in your business too?</span></span></strong></p>
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	<strong><span style="font-size:12px;"><span style="color: rgb(0, 0, 0);"><br />
	</span></span></strong></p>
<p class="MsoNormal" style="margin-bottom: 0.0001pt; text-align: justify; line-height: normal;">
	<span style="font-size: 12px;"><span style="color: rgb(0, 0, 0);">My primary business is restaurant and I have investments in a bank, among other sectors. At present, I am working with German companies on new products. So basically I'm a restaurateur. I joined the Chamber in the 1990s, as I was asked to. Earlier, I had a travel agency, so my keen interest is in tourism. So I hope to promote tourism along with other sectors being in the Chamber. <br />
	</span></span></p>
<p class="MsoNormal" style="margin-bottom: 0.0001pt; text-align: justify; line-height: normal;">
	<span style="font-size:12px;"><span style="color: rgb(0, 0, 0);"><br />
	</span></span></p>
<p class="MsoNormal" style="margin-bottom: 0.0001pt; text-align: justify; line-height: normal;">
	<strong><span style="font-size: 12px;"><span style="color: rgb(0, 0, 0);">How do you foresee the Nepal-German economic ties in the longer run?</span></span></strong></p>
<p class="MsoNormal" style="margin-bottom: 0.0001pt; text-align: justify; line-height: normal;">
	<strong><span style="font-size:12px;"><span style="color: rgb(0, 0, 0);"><br />
	</span></span></strong></p>
<p class="MsoNormal" style="margin-bottom: 0.0001pt; text-align: justify; line-height: normal;">
	<span style="font-size:12px;"><span style="color: rgb(0, 0, 0);">The relation between two countries is of course fundamentally economic and I think this kind of bi-national chamber always helps to promote trade. As of now, we have 22 or 23 bi-national chambers. Nepali business community should have this kind of platform that helps make an easier access into business-related information and facilitation in the counterpart country.</span></span></p>
<p>
	<span style="font-size: 12px;"><span style="color: rgb(0, 0, 0);">&nbsp;</span></span></p>
<p>
	<span style="font-size:12px;"><span style="color: rgb(0, 0, 0);"><br />
	</span></span></p>
<p class="MsoNormal" style="margin-bottom: 0.0001pt; text-align: justify; line-height: normal;">
	<strong><span style="font-size: 12px;"><span style="color: rgb(0, 0, 0);">Facts and Figures:</span></span></strong></p>
<p class="MsoNormal" style="margin-bottom: 0.0001pt; text-align: justify; line-height: normal;">
	<strong><span style="font-size:12px;"><span style="color: rgb(0, 0, 0);"><br />
	</span></span></strong></p>
<ul>
	<li>
		<span style="font-size:12px;"><span style="color: rgb(0, 0, 0);"><span color:="">Germany is one of the biggest export markets for Nepal and ranked 4th after India, USA and Bangladesh. During the FY 2009/10, the Nepali export to Germany could maintain favourable trade position but the export volume decreased by Rs 2,391 million, 14.1 per cent less compared to the previous year. <br />
		</span></span></span></li>
	<li>
		<span style="font-size:12px;"><span style="color: rgb(0, 0, 0);"><span color:="">Nepal's overall exports declined in FY 2009/10 by 11.1 per cent to Rs 60.9 billion whereas imports continued to increase by 29.1 per cent to Rs 375.6 billion. This development has further widened the overall trade deficit which was about Rs 314.7 billion (+41.5%) in FY 2009/10.<br />
		</span></span></span></li>
	<li>
		<span style="font-size:12px;"><span style="color: rgb(0, 0, 0);"><span color:="">Due to the decline of exports, the overall Nepal-German foreign trade has also slightly declined in the FY 2009/10. The total bilateral trade fell from Rs 5,029 million to Rs 4,713 million a decline of 6.3 per cent compared to the previous year. Imports from Germany rose by 3.5 per cent compared to FY 2008/09 to Rs 2,322 million.<br />
		</span></span></span></li>
	<li>
		<span style="font-size:12px;"><span style="color: rgb(0, 0, 0);"><span color:="">Germany is one of the few countries with a positive trade balance for Nepal (after Bangladesh, Bhutan and Canada) although the trade balance came down from a comfortable surplus of Rs 541 million in FY 2008/09 to Rs 69 million in FY 2009/10.<br />
		</span></span></span></li>
	<li>
		<span style="font-size: 12px;"><span style="color: rgb(0, 0, 0);"><span color:="">Exports to Germany In FY 2009/10, the decline of exports to Germany was caused by a decline in Textiles, clothing and accessories (9.6%), Food (19.0%) and Others <br />
		</span></span></span></li>
</ul>
<p class="MsoNormal" style="margin-bottom: 0.0001pt; text-align: justify; line-height: normal;">
	<span style="font-size:12px;"><span style="color: rgb(0, 0, 0);"><span color:=""><br />
	</span></span></span></p>
<p>
	<strong><span style="font-size:12px;"><span style="color: rgb(0, 0, 0);"><br />
	</span></span></strong></p>
<p class="MsoNormal" style="margin-bottom: 0.0001pt; text-align: justify; line-height: normal;">
	<strong><span style="font-size: 12px;"><span style="color: rgb(0, 0, 0);">Nepal-German Foreign Trade</span></span></strong></p>
<p class="MsoNormal" style="margin-bottom: 0.0001pt; text-align: justify; line-height: normal;">
	<strong><span style="font-size: 12px;"><span style="color: rgb(0, 0, 0);"><br />
	</span></span></strong></p>
<p class="MsoNormal" style="margin-bottom: 0.0001pt; text-align: justify; line-height: normal;">
	<span style="font-size: 12px;"><span style="color: rgb(0, 0, 0);">(52.6%). The export of carpets almost 60 per cent of the total exports to Germany further dropped down from Rs 1.53 billion to Rs 1.42 billion. It was a decline of 6.8 per cent. Germany is one of the biggest export markets for Nepalese carpet industry. It ranked second after the USA. The exports of woolen shawls decreased by 39.7 per cent (Rs 242.1 million) while exports of clothing slightly increased by 3.5 per cent (Rs 270.8 million) in comparison to the previous year. The decline in food exports to Germany were caused by decreasing exports of lentils, coffee and spices while the exports of tea (13.3%) and medical plants further increased. Germany, with an export volume of Rs 33.2 million, is the second biggest export market for Nepalese tea mainly the orthodox tea after India. The exports of paintings came down by 69.4 per cent to Rs 75.4 million. <br />
	</span></span></p>
<p class="MsoNormal" style="margin-bottom: 0.0001pt; text-align: justify; line-height: normal;">
	<span style="font-size:12px;"><span style="color: rgb(0, 0, 0);"><br />
	</span></span></p>
<p class="MsoNormal" style="margin-bottom: 0.0001pt; text-align: justify; line-height: normal;">
	<span style="font-size: 12px;"><span style="color: rgb(0, 0, 0);">Imports from Germany In FY 2009/10, the total imports from Germany experienced a slight increase of 3.5 per cent compared to the previous figure of Rs 2.3 billon. The development of the various product categories, however, was quite different. The imports of Machineries and electrical equipments, the major import goods from Germany that stand for more than 50 per cent of the total imports, increased by 7.5 per cent to Rs 1.2 billion. A closer look to this category reveals that Germany is an important supplier for mechanical machineries especially for the packing, printing, food, tobacco and textile sector. The imports of mechanical machineries increased by 2.6 per cent to Rs 932.1 million. And the imports of electrical machineries and equipments increased by 29.7 per cent compared to the FY 2008/09. <br />
	</span></span></p>
<p class="MsoNormal" style="margin-bottom: 0.0001pt; text-align: justify; line-height: normal;">
	<span style="font-size:12px;"><span style="color: rgb(0, 0, 0);"><br />
	</span></span></p>
<p class="MsoNormal" style="margin-bottom: 0.0001pt; text-align: justify; line-height: normal;">
	<span style="font-size: 12px;"><span style="color: rgb(0, 0, 0);">The imports of vehicles went up from Rs 6.5 million to Rs 80.4 million. The imports of medical devices and laboratory equipments increased by 13.8 per cent to Rs 275.7 million. And the imports of chemical and pharmaceutical substances and plastic rose by 11.4 per cent to Rs 265.7 million.</span></span></p>
<p class="MsoNormal" style="margin-bottom: 0.0001pt; text-align: justify; line-height: normal;">
	<span style="font-size: 12px;"><span style="color: rgb(0, 0, 0);"><br />
	</span></span></p>
<p class="MsoNormal" style="margin-bottom: 0.0001pt; text-align: justify; line-height: normal;">
	<strong><span style="font-size: 12px;"><span style="color: rgb(0, 0, 0);"><i>(Source: Nepal-German Chamber of Commerce and Industry.)</i></span></span></strong></p>
<p class="MsoNormal" style="margin-bottom: 0.0001pt; text-align: justify; line-height: normal;">
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			'content' => '<p class="MsoNormal">
	<span style="font-size:12.0pt;line-height:115%">By Anil Neupane</span></p>
<p class="MsoNormal">
	<span style="font-size:12.0pt;line-height:115%">&nbsp;</span></p>
<p class="MsoNormal">
	<span style="font-size:12.0pt;line-height:115%">Global business environment is changing rapidly with decentralization, smaller profit margin, need to react quickly to the changing market demands and increasing importance of service. In order to survive or improve in this aggressive environment, organizations tend to implement different approaches of Outsourcing, Business Intelligence (BI), Supply Chain Management (SCM) and Customer Relationship Management (CRM) systems. But despite these efforts, every organization does not succeed to meet the strategic goals. </span></p>
<p class="MsoNormal">
	<span style="font-size:12.0pt;line-height:115%">&nbsp;</span></p>
<p class="MsoNormal">
	<span style="font-size:12.0pt;line-height:115%">&nbsp; </span><strong><span style="font-size: 12pt; line-height: 115%;">Approaches used<br />
	</span></strong></p>
<p class="MsoNormal">
	<span style="font-size:12.0pt;line-height:115%">Traditionally outsourcing has been considered as the best approach for cost-saving. But this approach does not always support companies to meet their strategic outcomes. A survey conducted by Deloitte Consulting, among 25 of the world's largest organizations across eight sectors with extensive outsourcing experiences and multivendor relationships, revealed that 70% of participants identified cost savings</span><span style="font-size:12.0pt;line-height:115%;mso-ascii-font-family:
Calibri;mso-hansi-font-family:Calibri;mso-bidi-font-family:Calibri"> as the major driver of the outsourcing decision. However, opposing to th</span><span style="font-size:12.0pt;line-height:115%">e optimistic interpretation of outsourcing by vendors and the marketplace, they later realized that outsourcing is a complex process and the anticipated benefits often fail to materialize. Instead of simplifying operation, there may be complexities due to outsourcing.&nbsp;Also the costs may increase and the value chain may experience some friction requiring more senior management attention and deeper management skills than anticipated. However, outsourcing allows organizations to transfer financial and operational risk to vendors. But organizations are discovering that their contracts will never fully protect them against customer damage and business losses caused by service disruption. </span></p>
<p class="MsoNormal">
	<span style="font-size:12.0pt;line-height:115%">&nbsp; <br />
	</span></p>
<p class="MsoNormal">
	<span style="font-size:12.0pt;line-height:115%">Company should focus on outsourcing in its operational areas and handle their core areas on their own. By doing this outsourcing facilitates a company focus on its core business by having operations carried out by an external expert. Freed from devoting energy to areas that are not in its expertise, the company can focus its resources to meet its core customer needs.<br />
	<br />
	</span></p>
<p class="MsoNormal">
	<span style="font-size:12.0pt;line-height:115%">One of the major factors for a successful outsourcing is to have a clear strategic plan and vision. Moving along this path of clear plan and vision, a company can meet the strategic goals. As the survey report of Deloitte Consulting suggested, in order for meeting the strategic outcomes with minimal risks, companies should outsource only commodity functions to guard against a loss of knowledge instead of looking for differentiated growth solutions. As the report suggests, companies should avoid outsourcing solely on cost savings and should plan for short-term outsourcing to prevent vendor dependency. In the long run, organizations that continue to outsource will experience a loss of bargaining power to vendors as the supply side consolidates. <br />
	<br />
	<br />
	Those that apply strong skills in deal structuring, risk management and strong management skills to oversee deals from inception to execution will be best positioned to reap the benefits of outsourcing. Outsourcing will still remain a useful solution within the conservative context of five models: Centralize-Standardize-Outsource Transform-Operate-Transfer, Commodities Outsourcing, Risk Transfer (Insurance</span><span style="font-size:12.0pt;line-height:115%;mso-ascii-font-family:Calibri;
mso-hansi-font-family:Calibri;mso-bidi-font-family:Calibri">), and Shifting Fixed Costs to Variable Costs. In case of curr</span><span style="font-size:
12.0pt;line-height:115%">ent market situation, it has been found that outsourcing frequently fails to deliver its promise. In this case, it is suggested that the world’s largest companies should be able to replicate the vendor’s structural advantages in-house and rely on vendors only under specific circumstances. To meet the strategic outcomes from outsourcing, companies should move from an ad hoc outsourcing approach to a strategic multisourcing. </span></p>
<p class="MsoNormal">
	<strong><span style="font-size:12.0pt;line-height:115%"><br />
	</span></strong></p>
<p class="MsoNormal">
	<strong><span style="font-size:12.0pt;line-height:115%">Business Intelligence</span></strong></p>
<p class="MsoNormal">
	<span style="font-size:12.0pt;line-height:115%">Timely access to relevant information for right decision making has been critical for business success. However it has been very challenging for organizations to retrieve the right information from the huge amount of data collected as a result of diverse new data collecting technologies. Many companies have a gap between their strategy and operations as a failure to retrieve right information from their data. Unless they retrieve right information to realize this gap, it is not possible for them to come up with expected strategic outcomes. By providing right information at right time, business intelligence can help organizations to find out the gap between their strategy and operations following which they can change the strategy as per the operation or vice versa. Today’s business environment has frightening situation where 77% of managers do not have sufficient information and tend to make wrong decisions. Many companies strategies are found to be disconnected from the operations and decisions made at operations level are without context. This scary situation was depicted by a survey conducted by the Economist Intelligence Unit (EIU) which revealed that less than one in ten corporate executives believe they have the right information needed to make critical business decisions.&nbsp;No matter how promising the company strategy is, how can the right strategic outcome be met with this level of accessibility to right information for decision making? <br />
	<br />
	</span></p>
<p class="MsoNormal">
	<span style="font-size:12.0pt;line-height:115%">Mark Giles has emphasised on the Enterprise Data Warehouse (EDW) which, as he has defined, is a data warehouse concept that enables organizations create and operate a data warehouse in an enterprise-wide environment. Some of the major features of EDW are: a. Enable strategic analysis and operational reporting, b. Enable business to report real time, c. Integrate heterogeneous systems and d. facilitate the design time as well as runtime of business intelligence (BI) models and processes. In comparison to the traditional business intelligence systems which are accessible to some specific person such as manager, system analysts etc, EDW is something that is to be accessible to all levels of employees. Through this concept of information accessibility across the organizations, the employees at operational level can make right decisions to ensure the expected strategic outcome. Also since EDW facilitates the design and runtime of BI models and processes, organizations can simulate the processes earlier thereby reducing risks of failure which might happen in the real business scenario and support to meet expected strategic outcomes. </span></p>
<p>
	<span style="font-size:12.0pt;line-height:115%">&nbsp;</span></p>
<p class="MsoNormal">
	<strong><span style="font-size:12.0pt;line-height:115%">Supply Chain Management</span></strong></p>
<p class="MsoNormal">
	<strong><span style="font-size:12.0pt;line-height:115%">&nbsp;</span></strong></p>
<p class="MsoNormal">
	<span style="font-size:12.0pt;line-height:115%">In today’s rapid globalized business environment, companies have been highly dependent on outsourced manufacturing partners in order to reduce cost. However in addition to the reduction of the cost, the overall system has become very complex and therefore the importance of an effective supply chain management is increasing day by day. Unlike the earlier trends of producing goods on site, the goods are produced in remote areas and transported to other places for sales or reprocessing. </span></p>
<p>
	<span style="font-size:12.0pt;line-height:115%">&nbsp;</span></p>
<p class="MsoNormal">
	<span style="font-size:12.0pt;line-height:115%">The traditional approach of supply chain network does not match with the current speedy business environment and a new approach is needed to achieve expected strategic outcomes. Stefan Theis &amp; Howells have suggested adaptive supply chain </span><span style="font-size:12.0pt;line-height:115%;mso-ascii-font-family:
Calibri;mso-hansi-font-family:Calibri;mso-bidi-font-family:Calibri">as an effective supply chain network adapting a strategic approach to overcome the existing challenges in the supply chain network.</span><span style="font-size:
12.0pt;line-height:115%"> Because of globalization and outsourcing, the network-wide visibility and collaboration have become challenging. To overcome these challenges, he focuses on supply chain collaboration which consists of a. Understanding customer demand, b. Including suppliers in the network, c. Enabling visibility into outsourcing partners and d. Extending visibility to carriers . </span></p>
<p>
	<span style="font-size:12.0pt;line-height:115%">&nbsp;</span></p>
<p class="MsoNormal">
	<span style="font-size:12.0pt;line-height:115%">Tracking and Tracing</span><span style="font-size:12.0pt;line-height:115%;mso-ascii-font-family:
Calibri;mso-hansi-font-family:Calibri;mso-bidi-font-family:Calibri"> is a key enabler to achieve adaptive supply chain network which in turn can enable visibility into and responsiv</span><span style="font-size:12.0pt;line-height:
115%">eness to all supply chain events. Enabling real-time demand visibility, collaboration, and analytics to manage and mitigate risk are the major objectives of adaptive supply chain which can in turn ensure meeting the strategic goals of the companies. It is essential to have right supply chain strategy to come up with right strategic outcomes. For instance, strategies like Supply-to-stock and Supply-to-order. If supply-to-stock strategy is applied for products that are meant to be supply-to-order, then the possibility of right strategic outcome is very low.&nbsp;The technology plays crucial role for business partners integration. For instance, business intelligence systems can play a vital role to analyze the trends of customers needs and plan accordingly. It is essential for companies with strategic fit, i.e. both supply chain and competitive strategy have higher likelihood of having expected strategic outcome from their strategy. To achieve this strategic fit, some of the requisites he has suggested are: a. Understanding the customer, b. Understanding supply chain tradeoffs and c. Matching supply chain responsiveness with the implied demand uncertainty. With this combination of right strategy, strategy fit with strong support of technology at the back end can ensure organizations meet their strategic outcomes. </span></p>
<p>
	<span style="font-size:12.0pt;line-height:115%">&nbsp;</span></p>
<p class="MsoNormal">
	<strong><span style="font-size:12.0pt;line-height:115%">Customer Relationship Management</span></strong></p>
<p class="MsoNormal">
	<strong><span style="font-size:12.0pt;line-height:115%">&nbsp;</span></strong></p>
<p class="MsoNormal">
	<span style="font-size:12.0pt;line-height:115%">There have been numerous failures of implementing effective CRM systems. Companies should have strategic procedures to achieve strategic outcomes from their CRM systems. Properties of an effective CRM system which highly ensure the strategic outcome are:&nbsp;a. Simplicity drives adoption and productivity, b. Flexibility provides choice and adaptability and c. Comprehensive breadth of capabilities and innovation. </span></p>
<p>
	<span style="font-size:12.0pt;line-height:115%">&nbsp;</span></p>
<p class="MsoNormal">
	<span style="font-size:12.0pt;line-height:115%">There are numerous challenges to meet strategic goals through traditional CRM systems due to their inability to support high complexity of today’s global business environment. To get expected strategic outcomes from CRM systems, companies should focus on standardizing their sales processes, integrating their data and be flexible and responsive to their environment. Properly implemented and maintained CRM systems can help organizations meet their strategic goals by reducing or avoiding cost, increasing productivity and retaining higher customer satisfaction. A customer centric CRM system gives a full view of customers to help companies improve their efficiency thereby coming up with better customer service. For multinational companies, different complexities such as different processes in the subsidiary’s region, lack of integration in many processes and multiple CRM instances can further hinder the achievement of their strategic goals. Companies can overcome these complexities and meet their strategic goals with right implementation of the CRM systems by forming a globally consistent process, integrating processes across sales, marketing, contact centers and partners and by having single logical instance of multiple systems. </span></p>
<p>
	<span style="font-size:12.0pt;line-height:115%">&nbsp;</span></p>
<p class="MsoNormal">
	<strong><span style="font-size:12.0pt;line-height:115%">2+2 not necessarily 4</span></strong></p>
<p class="MsoNormal">
	<strong><span style="font-size:12.0pt;line-height:115%">&nbsp;</span></strong></p>
<p class="MsoNormal">
	<span style="font-size:12.0pt;line-height:115%">The four business areas, Outsourcing, Business Intelligence, Supply Chain Management, and Customer Relationship Management are very crucial for organizations to meet their strategic goals. However, these business areas by themselves do not assure the achievement of business strategic goals unless they are properly implemented. Though these business areas have their distinctive contribution to achieve the organizational strategic goals, they are not in fact independent of each other. These are closely interlinked with each other and proper coordination of these facets can actually result in meeting strategic goals efficiently. For this, an efficient or a combination of few ERP systems with all these functionalities can be deployed to support business processes and help meet the organizational strategic goals. After implementation, it is equally important to review these systems in context of changing business environment to ensure the system is as per the market need. </span></p>
<p>
	 </p>
<p>
	<strong><span style="font-size:12.0pt;line-height:115%">(Neupane is a SAP global certified consultant currently working in London. He can be reached at neupane_anil@hotmail.com)</span><br />
	</strong></p>
<p class="MsoNormal">
	<strong><span style="font-size:12.0pt;line-height:115%">&nbsp;</span></strong></p>',
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<p class="ANSWER" style="text-align: justify;">
	<span class="MyriadPro"><span calibri="" lang="EN-GB" letter-spacing:="" sans-serif="">Sujit Mundul, CEO and Director, Standard Chartered Bank (SCB) Nepal, started his career as a lecturer in Organic Chemistry but switched over to banking as he joined SCB as a junior officer in the seventies. Mundul moved on through various relationship roles in Corporate/Institutional Banking including Credit and Audit functions.&nbsp; He also worked in SCB - London in Credit Management for about a year on secondment. He became Head - Corporate Banking, South India and Regional Head - Sales, for Eastern India before joining SCB Nepal as the CEO and Director. Mundul spoke to <i>Nubiz</i> on a wide range of issues on banking and finance. Excerpts:</span></span></p>
<p class="ANSWER" style="text-align: justify;">
	 </p>
<p class="questionsforinterview" style="text-align: justify;">
	<span style="font-size:12px;"><strong><span class="MyriadPro"><span lang="EN-GB" style="letter-spacing: 0pt;">You have substantially increased the interest on savings, from 2-5% a few years back to 6.5% now. Is there still cash crunch? <br />
	</span></span></strong></span></p>
<p class="ANSWER" style="text-align: justify;">
	<span style="font-size:12px;"><span class="MyriadPro">To answer this question, we need to set the perspective right why SCB Nepal has increased its interest rate. Till one year back, the market never experienced that kind of interest rate because of many reasons. One of the major reasons is that remittance was less. That is coming in abundance now. But for good reason or bad, the market started feeling the tightness. As a result, some stress in liquidity was felt. To be very honest, SCB Nepal never faced a liquidity strain, we have always been adequately liquid.&nbsp; In fact, we had been the lenders in the inter-bank throughout the crisis period. Now, in order to build the deposit base, we decided to increase our interest rates because the market dynamics have changed. The market has slightly shifted gears from low to high interest rate environment. As we are also one of the key players in the market, we need to keep up with the market rates. That's the reason why we have increased the interest rate. Though the increase in interest rate is not that significant; we have already started seeing good positive response from the market.</span></span></p>
<p class="ANSWER" style="text-align: justify;">
	<span style="font-size:12px;"><span><span class="MyriadPro"><br />
	</span></span></span></p>
<p class="questionsforinterview">
	<span style="font-size:12px;"><strong><span class="MyriadPro"><span lang="EN-GB" style="letter-spacing: 0pt;">SCB Nepal is known for quality banking. But competition actually has become tough. How do you view the growth of Nepali financial sector?</span></span></strong></span></p>
<p class="ANSWER" style="text-align: justify;">
	<span style="font-size:12px;"><span class="MyriadPro"><span style="letter-spacing: 0.1pt;">It is a difficult market now. The market of Nepal has become overcrowded. It cannot accommodate so many players; that's why, the competition is a bit uneven. Customers or the depositors would love to see that wherever they put their money it should remain safe and they should get high quality service. The depositors are becoming much wiser compared to what they used to be few years back. They read papers, they also follow the economy and they can make their own judgments. That is why there is the competition and, I believe, we have been able to tackle the competition successfully.</span></span><strong><br />
	<span class="MyriadPro"> </span></strong></span></p>
<p class="ANSWER" style="text-align: justify;">
	<span style="font-size:12px;"><strong><span><span class="MyriadPro"><br />
	</span></span></strong></span></p>
<p class="questionsforinterview" style="text-align: justify;">
	<span style="font-size:12px;"><strong><span class="MyriadPro"><span lang="EN-GB" style="letter-spacing: 0pt;">You are of the few banks that also offer insurance products. How do these two products work along?</span></span></strong></span></p>
<p class="ANSWER" style="text-align: justify;">
	<span style="font-size:12px;"><span class="MyriadPro">e do not have insurance products of our own but we are co-branded with insurance. We call it bancassurance. It is very complementary with banking services. Basically, it could be used for retail banking sector. It can go very well with mortgage products. Similarly, it can go with other lending products. And it is used as one of the major products in wealth management. So we use it as a part of wealth management package. The corporate sector has also been covered by insurance. Instead of going to an ordinary agent, they can come to the bank to get their assets insured. So, these products are actually complimentary to each other.</span></span></p>
<p class="ANSWER" style="text-align: justify;">
	<span style="font-size:12px;"><span><span class="MyriadPro"><br />
	</span></span></span></p>
<p class="questionsforinterview" style="text-align: justify;">
	<span style="font-size:12px;"><strong><span class="MyriadPro"><span lang="EN-GB" style="letter-spacing: 0pt;">Securities Exchange Board of Nepal (SEBON) has recently got the Mutual Fund Regulations ratified. Your bank had shown some interest in this business in the past. How is the plan now?</span></span></strong></span></p>
<p class="ANSWER" style="text-align: justify;">
	<span style="font-size:12px;"><span class="MyriadPro"><span style="letter-spacing: 0.1pt;">To run a successful mutual fund, you need to have volume. I don't think Nepali market has yet got that volume. It will take maybe a few years to create that. For a successful mutual fund, we need to see also to the stock market. Is it equipped to handle the flow? Nepal is working with India to equip the Nepali stock market with some modern tools such as Central Depository System (CDS). Mutual Fund would be very helpful to make this market more perfect. It will not then be driven by the brokers; it will be driven by the market on its own forces. The investors can come and directly play in the market. <br />
	</span></span></span></p>
<p class="ANSWER" style="text-align: justify;">
	<span style="font-size:12px;"><span class="MyriadPro">We have a mutual fund in India under Standard Chartered. So we have the experience and I don't think there will be a problem in terms of experience or expertise.&nbsp; But we need to actually have that volume.</span></span></p>
<p class="ANSWER" style="text-align: justify;">
	<span style="font-size:12px;"><span><span class="MyriadPro"><br />
	</span></span></span></p>
<p class="questionsforinterview" style="text-align: justify;">
	<span style="font-size:12px;"><strong><span class="MyriadPro"><span lang="EN-GB" style="letter-spacing: 0pt;">How do you evaluate the current financial system of Nepal? Is it heading towards robustness?</span></span></strong></span></p>
<p class="ANSWER" style="text-align: justify;">
	<span style="font-size:12px;"><span class="MyriadPro">It is going through transformation I can say. At this stage, it is difficult to say whether it is robust or stagnant but I think the transformation is happening in the right direction. But it takes time; there are a lot of things that need to be corrected. Fundamental corrections are required. The only point here is that there are too many players so this market would definitely require consolidation. But I don't know when the momentum will come in terms of consolidation.&nbsp;</span></span></p>
<p class="ANSWER" style="text-align: justify;">
	<span style="font-size:12px;"><span><span class="MyriadPro"><br />
	</span></span></span></p>
<p class="questionsforinterview" style="text-align: justify;">
	<span style="font-size:12px;"><strong><span class="MyriadPro"><span lang="EN-GB" style="letter-spacing: 0pt;">Many banks are now trying to form a subsidiary to channel the mandatory deprived-sector lending. Do you subscribe the idea? Any plan from SCBNL along this line?</span></span></strong></span></p>
<p class="ANSWER" style="text-align: justify;">
	<span style="font-size:12px;"><span class="MyriadPro">We do not have any plan at this moment and I can't comment about other banks. However, I can tell you that this deprived-sector lending (micro finance) is definitely SCB Groups major focus area globally. And also here we are working on that.</span></span></p>
<p class="ANSWER" style="text-align: justify;">
	<span style="font-size:12px;"><span><span class="MyriadPro"><br />
	</span></span></span></p>
<p class="ANSWER" style="text-align: justify;">
	<span style="font-size:12px;"><strong><span class="MyriadPro"><span lang="EN-GB">What do you suggest to improve the financial services market in Nepal?</span></span></strong></span></p>
<p class="ANSWER" style="text-align: justify;">
	<span style="font-size:12px;"><span class="MyriadPro">The problem is uneven competition. There are many things that need to be done to make the market stronger. Firstly, we need to have tighter corporate governance; there is enough room for improvement. It is not only the regulator's responsibility; it is the responsibility of the individual players to ensure that a robust governance framework is in place. Secondly, this market needs more reforms in the sense of widening of the market and more integration with the international market. I think players should be allowed to directly interact with the international market. Thirdly, I would love to see a universally acceptable risk management model which would compensate the short-term losses caused by fundamental imbalances in the long term. Fourth, it is necessary to develop the capital market of Nepal. It helps in the long-term management of liquidity and also makes resources available to people to make short-term investments in the productive sector.</span></span></p>
<p class="ANSWER" style="text-align: justify;">
	<span style="font-size:12px;"><span><span class="MyriadPro"><br />
	</span></span></span></p>
<p class="questionsforinterview" style="text-align: justify;">
	<span style="font-size:12px;"><strong><span class="MyriadPro"><span lang="EN-GB" style="letter-spacing: 0pt;">What are the challenges and problems faced by your bank in particular and by the overall banking sector in general?</span></span></strong></span></p>
<p class="ANSWER" style="text-align: justify;">
	<span style="font-size:12px;"><span class="MyriadPro"><span style="letter-spacing: 0.2pt;">As far as our bank is concerned, we visualize the plans for next seven to ten years. I think we are well equipped to handle the challenges when they come. During crisis, we set up a very good example in the market as the only bank that lent to the market. That shows how careful we are. Our portfolio is very carefully managed. We run cautiously, we don't want to block our books and then suffer. There is problem now in the sense that the productive sector needs more credit but a lot of money is stuck in the real estate sector.</span></span><strong><br />
	<span class="MyriadPro"> </span></strong></span></p>
<p class="ANSWER" style="text-align: justify;">
	<span style="font-size:12px;"><strong><span><span class="MyriadPro"><br />
	</span></span></strong></span></p>
<p class="questionsforinterview" style="text-align: justify;">
	<span style="font-size:12px;"><strong><span class="MyriadPro"><span lang="EN-GB" style="letter-spacing: 0pt;">What is your future mission and vision for Nepal?</span></span></strong></span></p>
<p class="ANSWER" style="text-align: justify;">
	<span style="font-size:12px;"><span class="MyriadPro">We are long-term players and we would continue to be here. We'll be expanding our ventures. We have in mind some acquisition also, when the time is right. That's not completely out of the window.&nbsp; It's very much part of the game plan. <br />
	</span></span></p>
<p class="ANSWER" style="text-align: justify;">
	<span style="font-size:12px;"><span><span class="MyriadPro"><br />
	</span></span></span></p>
<p class="questionsforinterview" style="text-align: justify;">
	<span style="font-size:12px;"><strong><span class="MyriadPro"><span lang="EN-GB" style="letter-spacing: 0pt;">It is said that in Nepal, merger and acquisition will remain only in talks not in practice. What do you say?</span></span></strong></span></p>
<p class="ANSWER" style="text-align: justify;">
	<span style="font-size:12px;"><span class="MyriadPro">Unless foreign players and foreign direct investment flow into Nepal, I don't see any possibility of merger and acquisition. Its pre-requirements are political stability and supplementing policies. It is not only the matter of tax. No investor would like to buy problem paying money. Therefore, there must be a suitable labour policy in Nepal. I don't mean the facility of hire and fire. It means keeping human resource in right size and mobilizing it. After meeting all these requirements, I think we can then talk about merger and acquisition. <br />
	<br />
	</span></span></p>
<p class="ANSWER" style="text-align: justify;">
	<span style="font-size:12px;"><strong><span class="MyriadPro"><span lang="EN-GB" style="letter-spacing: 0pt;">What are your bank's recent activities on Corporate Social Responsibility?<br />
	<br />
	</span></span></strong><span class="MyriadPro"><span style="letter-spacing: 0.2pt;">We continue to focus on accseeing is believing keeping avoidable blindness in the centre point. We are very much into helping the poor schools inside and outside the valley by providing computers and creating computer laboratory and also by providing scholarships. We have helped few deserving schools in uplifting their infrastructural facilities. We are very much into the HIV-AIDS awareness and environment protection programs. As a part of our ongoing agenda, we are planting trees to maintain greenery around and are also looking at reducing the carbon requirement of our own uses. </span></span><span style="font-family: Wingdings; color: rgb(237, 28, 36); letter-spacing: 0.15pt;">&nbsp;</span></span></p>
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<p class="MsoNormal">
	<strong><span style="font-size:12px;"><span color:="" franklin="" gothic="" style="line-height: 115%;"><br />
	BRIGHT ECONOMIC FUTURE OF NEPAL</span></span></strong></p>
<p class="MsoNormal">
	 </p>
<p class="MsoNormal" style="margin-bottom: 0.0001pt; line-height: 120%; vertical-align: middle;">
	<strong><span style="font-size:12px;"><i><span color:="" letter-spacing:="" lucida="" style="line-height: 120%;">By Janardan Dev Pant<br />
	<br />
	</span></i></span></strong></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;"><b><span aldine401="" color:="" letter-spacing:="">N</span></b><span aldine401="" color:="" letter-spacing:="">epal's political parties and policymakers are making financial mistakes that have left the people in poverty, serious financial stress and feeling of helplessness. Nepal is experiencing immense challenges in transforming its social and business environment. Such transformation requires departure from outdated modes of providing dogmatic directions.&nbsp; Everybody is suggesting that the need of the hour is good governance, awareness about and understanding of global and national economic business environment, strategic thinking and choices, formulation and implementation of proper policies, effective communication, digitization, and management of available human talent.&nbsp; These all require an overall understanding of the fast paced changes of both the external and internal environment.</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 aldine401="" color:="" letter-spacing:="">&nbsp;</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 aldine401="" color:="" letter-spacing:="">We have achieved lots of good things.&nbsp; We have produced world class engineers, doctors, lawyers and bankers by liberalizing education, telecommunications and banking. Majority of them are working in the USA, Canada, UK and Australia due to the absence of right environment in Nepal. Due to this migration of talent, all the achievement made in the education sector has been useless in raising the living standards of 85 per cent Nepalis.&nbsp; Common people are undergoing extreme socio-economic hardships without hope of any immediate relief.&nbsp; This situation must not be allowed to continue.&nbsp; </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 aldine401="" color:="" letter-spacing:="">&nbsp;</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 aldine401="" color:="" letter-spacing:="">Nepal's market-oriented reform started in 1991 implied that those who lack the purchasing power will be marginalised.&nbsp; People without money are as good as non-existent in the sort of market economy prevailing today.&nbsp; It is the state's responsibility to take care of such citizens.&nbsp; Failure to take care of such Nepalis, who are about 85 per cent of the country's population, is the key failure of Nepal's economic liberalization.The main reason behind this failure is our inability to use our existing resources properly. That is what is forcing us to live in poverty, serious financial stress and feeling of helplessness.&nbsp; </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 aldine401="" color:="" letter-spacing:="">&nbsp;</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 aldine401="" color:="" letter-spacing:="">This article is about a proposal to get out of this mess and achieve growth through the use of hydropower. </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 aldine401="" color:="" letter-spacing:="">&nbsp;</span></span></p>
<p class="MsoNormal" style="margin: 11pt 0in 0.0001pt; vertical-align: middle;">
	<strong><span style="font-size: 12px;"><span color:="" franklin="" gothic="" letter-spacing:="">Setting the Goal<br />
	<br />
	</span></span></strong></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 aldine401="" color:="" letter-spacing:="">The first step in embarking on a journey is to set a goal. Let's set the goal as:&nbsp; Nepal's per capita income US$ 2,500 by 2017 and US$ 50,000 by 2040.&nbsp; This goal is specific, measurable, achievable, realistic and time bound.&nbsp; With this goal in mind, I would like to draw a number of policy prescriptions to achieve this goal. These policies can promote investment, create jobs and wealth, and consumer spending which will give us double digit growth and eradicates poverty so that Nepal will be transformed from least developed county to developed country by 2040.</span></span></p>
<p class="MsoNormal" style="margin-bottom: 0.0001pt; text-align: justify; text-indent: 14.15pt; line-height: 11pt; vertical-align: middle;">
	 </p>
<p class="MsoNormal" style="margin-bottom: 0.0001pt; text-align: justify; text-indent: 14.15pt; line-height: 11pt; vertical-align: middle;">
	<strong><span style="font-size:12px;"><span aldine401="" color:="" letter-spacing:="">&nbsp;</span></span></strong></p>
<p class="MsoNormal" style="margin: 11pt 0in 0.0001pt; vertical-align: middle;">
	<strong><span style="font-size: 12px;"><span color:="" franklin="" gothic="" letter-spacing:="">Bench Mark<br />
	<br />
	</span></span></strong></p>
<p class="MsoNormal" style="margin: 11pt 0in 0.0001pt; vertical-align: middle;">
	 </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 aldine401="" color:="" letter-spacing:="">We must benchmark with our comparator countries to achieve best practices and gain efficiencies.&nbsp; Our core competencies are hydropower and tourism.&nbsp; The comparator countries in this respect are Bhutan and Laos. They too are landlocked, have mountainous terrain and plentiful water resources.&nbsp; But they have succeeded to produce and export large volume of hydroelectricity to their neighbors.&nbsp; We can learn many things from 1070 MW Nam Theun Hydropower Project of Laos and 1020 MW Tala Hydroelectric Project of Bhutan. We have to learn from them and achieve the above stated goal. But we have to revise and refine those models to suit our specific environment.&nbsp; For example, they are exporting power whereas we have market for power within the country itself. <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 aldine401="" color:="" letter-spacing:="">Supply creates its own demand, said the famous economist JB Say.&nbsp; He is perfectly right in his statement, at least in Nepal where the pent up demand for electricity is huge. If we start construction of various hydroelectricity projects immediately as per our model, our per capita income will reach around US $50,000 by 2040 with double digit economic growth every year.&nbsp; By that time our rate of per person electricity use will reach around 150 times from today's 70 units per head.&nbsp; As we are going to consume here in Nepal all the electric power that we are going to produce, the policy of exporting power must be stopped immediately.&nbsp; Power exporting policy will hold back our fast track economic growth.&nbsp;&nbsp;&nbsp; </span></span></p>
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	 </p>
<p class="MsoNormal" style="margin-bottom: 0.0001pt; text-align: justify; text-indent: 14.15pt; line-height: 11pt; vertical-align: middle;">
	<strong><span style="font-size:12px;"><span aldine401="" color:="" letter-spacing:="">&nbsp;&nbsp;&nbsp; </span></span></strong></p>
<p class="MsoNormal" style="margin: 11pt 0in 0.0001pt; vertical-align: middle;">
	<strong><span style="font-size: 12px;"><span color:="" franklin="" gothic="" letter-spacing:="">Liberalizing Hydropower</span></span></strong></p>
<p class="MsoNormal" style="margin: 11pt 0in 0.0001pt; vertical-align: middle;">
	 </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 aldine401="" color:="" letter-spacing:="">This is the time that the government needs to think about liberalizing hydropower sector, just like it liberalized banking, telecommunications and education which unleashed the banking, communication and education revolution.&nbsp; We have to rehabilitate to Nepal Electricity Authority (NEA) to match our development strategy because NEA is already a sick unit.&nbsp; We are experiencing a severe energy crisis. We are already without electricity 14 hours a day and this duration is getting longer. But with the hydropower potential we have, it does not have to be that way. Presently, peak power demand of integrated Nepal power system is around 967 MW and power supply is around 400 MW.&nbsp; The deficit can be met easily with a few projects. <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 aldine401="" color:="" letter-spacing:="">&nbsp;But the existing power purchase rates make the power projects commercially unfeasible due to high rates of interest that the banks are charging.&nbsp; Therefore, it is suggested that the power purchase rates be revised upward, immediately.&nbsp; When the market interest rates rises further, the power purchase rates should be raised accordingly. Similarly, when the interest rate cools down, the power purchase rates should be lowered accordingly. </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 aldine401="" color:="" letter-spacing:="">&nbsp;</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 aldine401="" color:="" letter-spacing:=""><br />
	</span></span></p>
<p class="MsoNormal" style="margin: 11pt 0in 0.0001pt; vertical-align: middle;">
	<strong><span style="font-size: 12px;"><span color:="" franklin="" gothic="" letter-spacing:="">Cost of Hydropower<br />
	<br />
	</span></span></strong></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 aldine401="" color:="" letter-spacing:="">The cost of hydropower is highly site specific, and depends on different factors, including hydrologic characteristics, site accessibility, and distance from transmission line.&nbsp;&nbsp; However, hydropower is the cheapest way to generate electricity in Nepal. The 456 MW Upper Tamakoshi hydropower project is estimated to cost Rs 35.29 billion, if the project is completed by FY 2014-15 as scheduled.&nbsp; That means it costs about Rs 77.39 million per MW.&nbsp; On that basis, we can say, at today's rate, a typical hydropower project in Nepal can cost somewhere between Rs 80 million and Rs 150 million per installed MW.&nbsp;&nbsp;&nbsp; </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 aldine401="" color:="" letter-spacing:="">&nbsp; </span></span></p>
<p class="MsoNormal" style="margin: 11pt 0in 0.0001pt; vertical-align: middle;">
	<strong><span style="font-size:12px;"><span color:="" franklin="" gothic="" letter-spacing:="">Means of Financing<br />
	<br />
	</span></span></strong></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 aldine401="" color:="" letter-spacing:="">One major obstacle often cited in Nepal's hydropower development is the lack of finance. But in reality, it is no big deal for us to raise the money.&nbsp; The project can be financed through a mix of debt and equity arranged through a public-private partnership.&nbsp; The people of Nepal can arrange the resources on their own to produce at least 2,360 MW of electricity if the leaders extend some help.&nbsp; <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 aldine401="" color:="" letter-spacing:="">First of all, Nepal Government has to create Nepal Development Company Limited (NDCL) as a sovereign wealth fund holding company.&nbsp; Then the government should sell 40 per cent shares it holds in the Nepal Telecommunication Company Ltd (NTC). This will yield around Rs 24 billion and that amount should be invested as the seed money of NDCL.&nbsp; With this money, NDCL can promote many subsidiary public limited companies in the same manner as Nepal Electricity Authority has promoted Chilime Hydropower Company Limited.&nbsp; The equity participation in these subsidiaries is proposed at 51% from NDCL, 25% from national or international strategic partner, 24% from the general public.&nbsp; Subsidiaries should be managed by the strategic partners so as to ensure efficiency and customer satisfaction.&nbsp; NDCL can also promote East-West Electric Railway Ltd and many North-South cable car companies in similar modality of raising the fund. <br />
	<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 aldine401="" color:="" letter-spacing:="">&nbsp;Nepal Telecom has been seeking strategic partner as it is losing 10 per cent of its profit growth every four months to the private telecom service providers.&nbsp; Nepal Telecom on its second annual general meeting held on March 29, 2010 has passed a resolution to sell minority shares to international telecommunications operator.&nbsp; But nothing has been done on this line till now. People believe that this delay is due to financial influence of other telecom service providers on our political leaders and government authorities.&nbsp; Further, it is also widely believed that if Nepal Telecom cannot bring foreign telecommunications operator through bidding as a strategic partner, Nepal Telecom too will face the same fate as that of Janakpur Cigarette Factory and Nepal Airlines Corporation.&nbsp; <br />
	<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 aldine401="" color:="" letter-spacing:="">The paid-up capital of Nepal Telecom is Rs 15 billion, of which Nepal Government holds 91.50%.&nbsp;&nbsp; If the Government can sale 40% share in Nepal Telecom through international bidding, at the rate of minimum Rs 400 per share, the proceeds will be a minimum of Rs 24 billion.&nbsp; Assuming that this Rs 24 billion will be the 25% equity from NDCL's side, and that Rs 72 billion will be available as loan from various lenders, the total funds available will be Rs 96 billion.&nbsp; This will be sufficient to set up projects to generate hydroelectricity of 960 MW, assuming, on the basis of calculations above, that Rs 100 million will be required to install one MW capacity for hydroelectricity.&nbsp;&nbsp;&nbsp; </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 aldine401="" color:="" letter-spacing:="">&nbsp;</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 aldine401="" color:="" letter-spacing:="">Similarly, Nepal Army Welfare Fund has billions in its account.&nbsp; If it invests Rs 5 billion as equity in hydropower projects, it can get 75% of the project as loan and the total available amount will be Rs 20 billion.&nbsp; This amount is sufficient to install 200 MW capacity of hydroelectricity on the same assumptions as above.Then is the Employees Provident Fund. It is no big deal for this institution to invest Rs 10 billion as equity for hydropower generation. That will attract loans to make the total fund of Rs 40 billion.&nbsp; This is sufficient for installing a generation capacity of 400 MW.&nbsp;&nbsp; <br />
	<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 aldine401="" color:="" letter-spacing:="">Then, we can easily assume that 100,000 Nepali citizens will come forward to invest Rs 200,000 per person. That will generate a total equity amount of Rs 20 billion which will attract a loan so that the total amount will be Rs 80 billion.&nbsp; From this amount, we can install a capacity of R 800 MW. The equity can be raised by issuing preferred redeemable increased dividend equity shares (PRIDES) to the general people.&nbsp; PRIDES, according to Investopedia, are securities consisting of a forward contract to purchase the issue's underlying security and an interest bearing deposit.&nbsp; Interest payments are made at regular intervals, and conversion into the underlying security is mandatory at maturity.&nbsp; PRIDES allow investors to earn stable cash flows while still participating in the capital gains of an underline stock.&nbsp; This is possible because these products are valued along the same lines as the underlying security. <br />
	<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 aldine401="" color:="" letter-spacing:="">Micro-finance institutions, Banks and Co-operatives can give loans to purchase these PRIDES issued by NDCL or its subsidiaries to the Nepalis who have low or no income. Such loan can be issued against the collateral of PRIDES.&nbsp; This will bring positive impact on distribution of benefits from national resources to the low income people.&nbsp; This will ensure that the economic development does not marginalize the poor. <br />
	<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 aldine401="" color:="" letter-spacing:="">We can get loan from various financial institutions located in Nepal, China, India or global institutions such as Agence Francaise de Development, European Investment Bank, Nordic Investment Bank etc. China's foreign exchange reserves have reached US$ 2.4 trillion making it by far the largest holder of foreign exchange reserve in the world. China was holding US$ 906 billion in US treasury bonds as of October, 2010.&nbsp; We should request China to invest some of that amount in Nepal's infrastructure development, such as hydropower. They should agree because the return will be higher in our projects.</span></span></p>
<p class="MsoNormal" style="margin-bottom: 0.0001pt; text-align: justify; text-indent: 14.15pt; line-height: 11pt; vertical-align: middle;">
	 </p>
<p class="MsoNormal" style="margin-bottom: 0.0001pt; text-align: justify; text-indent: 14.15pt; line-height: 11pt; vertical-align: middle;">
	<strong><span style="font-size:12px;"><span aldine401="" color:="" letter-spacing:="">&nbsp;</span></span></strong></p>
<p class="MsoNormal" style="margin: 11pt 0in 0.0001pt; vertical-align: middle;">
	<strong><span style="font-size: 12px;"><span color:="" franklin="" gothic="" letter-spacing:="">Infrastructure-Transmission Line<br />
	<br />
	</span></span></strong></p>
<p class="MsoNormal" style="margin: 11pt 0in 0.0001pt; vertical-align: middle;">
	 </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 aldine401="" color:="" letter-spacing:="">Hydropower development depends on the power transmission to carry the power from the power project site to the consumer. On January 5, 2007 NEA signed an MOU to construct Butwal-Gorakhpur, Duhabi-Purnia, Dhalkebar-Mujaffarpur and Anarmani-Siligudi 220 KV transmission lines for power trade between Nepal and India. But if we have to develop Nepal's hydropower and consume this within Nepal, NEA has to start constructing East-West 400 KV, North-South 132 KV, and North-South 220 KV transmission lines along the corridors of North-South major rivers, where it is feasible.&nbsp; NEA will make profit from wheeling charges received from power producers.<br />
	<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 aldine401="" color:="" letter-spacing:="">These transmission lines are essential to solve the present problem of power deficit.&nbsp; No investor will be interested to invest in power project without transmission line. Therefore, for Nepal, transmission line construction is not an option but compulsion. If NEA is not able to construct these transmission lines, the private sector can be invited to do it under Build-Own-Operate-Transfer (BOOT) contracts.&nbsp; The private sector can be allowed to operate such transmission lines for 30 years after which it has to transfer ownership to the government-owned NDCL. <br />
	<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 aldine401="" color:="" letter-spacing:="">The responsibility to distribute electricity should be given to the local government units, such as the District Development Committees or Municipalities or to the proposed federal states.&nbsp; With this arrangement, the present problem of leakage of electricity will be stopped. At present, the electricity leakage is 26 per cent according to NEA.&nbsp; </span></span></p>
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	 </p>
<p class="MsoNormal" style="margin-bottom: 0.0001pt; text-align: justify; text-indent: 14.15pt; line-height: 11pt; vertical-align: middle;">
	<strong><span style="font-size:12px;"><span aldine401="" color:="" letter-spacing:=""><br />
	&nbsp;</span></span></strong></p>
<p class="MsoNormal" style="margin: 11pt 0in 0.0001pt; vertical-align: middle;">
	<strong><span style="font-size: 12px;"><span color:="" franklin="" gothic="" letter-spacing:="">Market<br />
	<br />
	</span></span></strong></p>
<p class="MsoNormal" style="margin: 11pt 0in 0.0001pt; vertical-align: middle;">
	 </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 aldine401="" color:="" letter-spacing:="">The concept of supply creates its own demand is applicable in our case.&nbsp; There is scope of exponential increase in the supply of electric power in Nepal because there is also a very high scope for exponential increase in the demand for electric power.&nbsp; The data provided in the Table-1 is a conservative estimate.&nbsp; This does not include major hydropower projects initiated by NEA and foreign investors. NDCL can immediately start Construction of electric railway system such as Mechi-Mahakali, Raxaul-Hetauda-Kulekhani-Kathmandu and Kathmandu valley metro system.&nbsp; The estimated construction cost is Rs 500,000 per meter for double track railway. It goes up to Rs 1,000,000 if tunnel construction is also required. </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 aldine401="" color:="" letter-spacing:="">&nbsp;</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 aldine401="" color:="" letter-spacing:="">NDCL can also immediately start construction of cable car system from various points of east-west electric railway up to the hilly and Himalayan region to the market centres and tourist attractions including various reservoirs to be created by hydro dams.&nbsp; </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 aldine401="" color:="" letter-spacing:="">&nbsp;</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 aldine401="" color:="" letter-spacing:="">Meanwhile, we can benefit from the fast growth in the economies of our two neighbours. We share our northern border (1415 kms) with China which is not only the most populous country in the world with 1.34 billion people, but also the worlds second largest economy after the United States.&nbsp; It is the world's fastest growing major economy, with average annual growth rates of 10% for the past 30 years.&nbsp;&nbsp; China's middle class population, that has an annual income of at least US$ 17,000, has now reached more than 100 million. China's per capita income (nominal) is US$ 4,283.&nbsp; Similarly, our southern neighbor India with which we share a common border of 1,850 Kms, is the second most populous country in the world with 1.2 billion people.&nbsp; India too is one of the fastest growing economies in the world and its per capita income (nominal) is US$ 1,124.&nbsp; </span></span></p>
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	<span style="font-size:12px;"><span aldine401="" color:="" letter-spacing:="">&nbsp;</span></span></p>
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	<span style="font-size:12px;"><span aldine401="" color:="" letter-spacing:="">If we can attract even one per cent of the population of our two neighboring countries as tourists in Nepal, that will give tremendous economic growth to our economy as well. That requires construction of various electric train lines, international airports, cable car systems and recreational centres. Development of hydropower will help in all these. For example, water can be used for creating recreational facilities. Most importantly, if Nepal has good infrastructure, its geographical location makes it very suitable to be international financial center.</span></span></p>
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	 </p>
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	<strong><span style="font-size:12px;"><span aldine401="" color:="" letter-spacing:="">&nbsp;</span></span></strong></p>
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	<strong><span style="font-size: 12px;"><span color:="" franklin="" gothic="" letter-spacing:="">Determined Government<br />
	<br />
	</span></span></strong></p>
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	<span style="font-size:12px;"><span aldine401="" color:="" letter-spacing:="">One frequently cited problem in Nepal's development and investment is the political uncertainty. However, there are examples, such as Singapore, China and South Korea, that a determined government can build an advanced country from scratch in a short period of time. That means our politicians have to start learning.<br />
	<br />
	<br />
	</span></span></p>
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	<span style="font-size:12px;"><span aldine401="" color:="" letter-spacing:="">Presently, our leaders or political parties are focused on the 301-game trying to make sure that they have 301 members of the Constituent Assembly on their side at any cost. That has to change. Over the past 35 years, we have seen rapid pace of technological change in our physical environment.&nbsp; Innovations such as cellular telephones, laser surgery, computers, electronic banking and new electronic trading techniques have materially affected the way people live.&nbsp; These technologies are easily transferable.&nbsp; Our politicians should keep themselves aware about these technological changes.&nbsp; That is required because the politicians should be able to optimize the use of the country's resources, promote excellence in the delivery of services and enhance competitiveness in line with our strategic visions, by keeping economic policy, institutions and bureaucracy above politics.<br />
	<br />
	<br />
	</span></span></p>
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	<span style="font-size:12px;"><span aldine401="" color:="" letter-spacing:="">&nbsp;Politicians should be given growth challenges in numerical terms.&nbsp; They must be given a target such as 12.3 percent growth rate per annum in our gross domestic product (GDP).&nbsp; Why 12.3 per cent? Our population growth rate is 2.3 per cent per annum.&nbsp; So, we need 2.3 per cent annual rate of GDP growth to take care of population increase. Another 5 percent growth rate is required to provide increased standard of living to the people, and another 5 percent is needed to provide increased momentum in the subsequent years.&nbsp; It is an achievable target and this must be the duty of the Prime Minister to achieve this. It makes no sense to continue hiring the Chief Executive Officer of the country without giving him or her a target to achieve. <br />
	<br />
	<br />
	</span></span></p>
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	<span style="font-size:12px;"><span aldine401="" color:="" letter-spacing:="">&nbsp;The type of economic growth that we will achieve with this model will not only eradicate poverty from Nepal in a short period of time, but will lift the country to the group of developed countries by 2040.&nbsp; </span></span></p>
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	<strong><span style="font-size:12px;"><span aldine401="" color:="" letter-spacing:="">&nbsp;</span></span></strong></p>
<p class="MsoNormal">
	<strong><span style="font-size: 12px;"><span aldine401="" color:="" letter-spacing:="" style="line-height: 115%;">&nbsp;<i>(Pant is Director of Nepal Investment Bank Ltd and Chairman of Quantum Capital Ltd.&nbsp; He can be contacted at janardanpant@gmail.com)</i></span></span></strong></p>
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	<span style="font-size:12px;"><span aldine401="" color:="" letter-spacing:="" style="line-height: 115%;"><i><br />
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<p class="MsoNormal" style="margin-bottom: 0.0001pt; line-height: 120%; vertical-align: middle;">
	<span style="color: rgb(255, 140, 0);"><strong><i><span style="font-size: 8pt; line-height: 120%; font-family: &quot;Lucida Bright&quot;,&quot;serif&quot;; letter-spacing: -0.15pt;">By Dr Rabindra Karna</span></i></strong></span></p>
<p class="BODYTEXT" style="text-indent: 0in; text-align: justify;">
	<span style="font-size: 16px;"><b><span style="letter-spacing: 0.25pt;">T</span></b></span><span style="letter-spacing: 0.25pt;">o know the role of Performance Management, itâ€™s essential to agree on the objective of management. If we collate different views of different management scientists, we can come to a consensus that the objective of management is: to achieve the intended business destination through effective, efficient and economic utilization of people, material, time, information and fund.â€ <br />
	</span></p>
<p class="BODYTEXT" style="text-align: justify;">
	It covers all four key elements â€“ job improvement, skills enhancement, task management and internal relationship. It is through the combination of these that achievement of intended destination is ensured. Thus to manage a business effectively, there must be a close link between the work planning, proceeding and review procedure because factors affecting business and people performance interact on each other. </p>
<p class="BODYTEXT" style="text-align: justify;">
	The management needs to institutionalize and demonstrate latest management techniques, approaches/principles and philosophies to synergize cumulative human endeavour. This can be achieved only through a dynamic change agent driving the change process embodying these qualities for common growth and actualization of the organisationâ€™s potentials. </p>
<p class="BODYTEXT" style="text-align: justify;">
	In the total management philosophies, there has been unanimous alignment about people resources and it is all agreed that without proper people organization blocks, it would not only be difficult but impossible to eye on any intended achievement without people engagement. Scientific management theory describes 5 key block builders of Human Organization:</p>
<p class="bullet">
	1.<span style="">&nbsp;&nbsp;&nbsp;&nbsp; </span>Work Cycle: Assignments should be specialized and set to smallest possible work cycle.</p>
<p class="bullet">
	2.<span style="">&nbsp;&nbsp;&nbsp; </span>Process: Same process be used whilst performing same task in repetition</p>
<p class="bullet">
	3.<span style="">&nbsp;&nbsp;&nbsp; </span>Leadership: Effective leadership should be demonstrated in decision making</p>
<p class="bullet">
	4.<span style="">&nbsp;&nbsp;&nbsp; </span>Uniformity: In view of equity and consistency, policies must be uniform<span style=""> </span>across the business.</p>
<p class="bullet">
	5.<span style="">&nbsp;&nbsp;&nbsp; </span>Exclusivity: Duplication of functions is widely discouraged and thus assignment exclusivity becomes a must in view of task ownership.<span style="">&nbsp;&nbsp;&nbsp;</span> </p>
<p class="BODYTEXT" style="text-align: justify;">
	<span style="letter-spacing: 0.15pt;">With the understanding that the people are important, itâ€™s obvious that we need to relate our efforts to achieve with the social perception within organization.<span style="">&nbsp; </span>Itâ€™s obvious that social behavior is learnt in the form of acceptability within a work environment and we continue to learn and adapt through comparing one another.<span style="">&nbsp; </span>Being social animals, the humans make comprehensive arrangements for living and performing with one another and managing the environment. We could perceive most social situations as a negotiation, an interview, a presentation/workshop, an attempt to leadership, etc. Organizations or their people recognise the existence of a problem when they perceive that their goals are inconsistent with one another or when discrepancies between want/desire and expectations are experienced. <br />
	</span></p>
<p class="BODYTEXT" style="text-align: justify;">
	However, to have consistency in business results as well as in peopleâ€™s productivity and social acknowledgement, we need to pay special attention to Performance Management and that requires serious attention to meet expectations or achieve desired results. </p>
<p class="BODYTEXT" style="text-align: justify;">
	<span style="letter-spacing: 0.2pt;">In the light of the above, there cannot be a disagreement, if we say that Performance Management is thus one of the most essential elements of Management and most desired to be in place for institution and/or investments. <br />
	</span></p>
<p class="BODYTEXT" style="text-align: justify;">
	<span style="letter-spacing: 0.2pt;">The article is not intended to describe the steps or process of performance management. Rather it is intended to discuss various elements and/or contributing factors of performance management in day to day work life. Various research works suggest:</span></p>
<p class="bullet" style="text-align: justify;">
	<b>1.<span style="">&nbsp;&nbsp;&nbsp;&nbsp; </span>Regular Communication at work:</b> Employees mostly show concerns pertaining to the quality and quantity of communication at work.<span style="">&nbsp; </span>Inadequate and ineffective communication results in loss of cooperation and coordination, decreased productivity, undesired pressure, increased human turnover, absenteeism, rumors etc and there wonâ€™t be any disagreement that all these have huge impact on both personal and organizational performance. Hence, it would be wise to have two way clear, effective and regular communication within the organization to attain the desired performance.</p>
<p class="bullet" style="margin-top: 2.85pt; text-align: justify;">
	<b>2.<span style="">&nbsp;&nbsp;&nbsp; </span>Build Trust:</b> It has been widely experienced in daily work life that lack of trust among the members of the work team is very damaging. HR practitioners must accept that the performance management tools should not be considered as the only HR tools. Research works suggest that HUMILITY is one of the best to generate trust within organization. Managers or HR practitioners who are ready to acknowledge mistakes have been considered as highly competent. Even mediocre people are accepted easily saying, â€œYou are trustworthy because you have courage to admit a mistakeâ€. One must be seen by other members not as a competitor but as a collaborator. Trust encourages people to focus on productivity instead of remaining suspicious for every action of Management.</p>
<p class="bullet" style="margin-top: 5.65pt; text-align: justify;">
	<b>3.<span style="">&nbsp;&nbsp;&nbsp; </span>Satisfy Customers: </b>Customer service must be improved starting from the office of the top management (e.g. Managing Director, CEO, GM etc.). Commitment must be communicated to all the levels (internal &amp; external). An awareness drive can be launched for improvement on customer service. Customers also want to feel that you value them and their business. Loyal customers market the company. This way, the customer satisfaction becomes an important key in driving performance.</p>
<p class="bullet" style="margin-top: 5.65pt; text-align: justify;">
	<b>4.<span style="">&nbsp;&nbsp;&nbsp; </span> Get Along:</b> Relationship, conflict, resentment etc. have a big negative impact on performance. Evaluate and encourage change process by allowing a fostering team spirit. Encourage discussions that lead to pointing out inconsistencies in the actions and outcomes against the agreed goals and priorities. Changes in behaviour, generating better understanding across the business, creating common goal and priority and showing concerns about one anotherâ€™s personal constraints as well as providing support in the hours of need will foster the team spirit and help building everlasting relationship.<span style="">&nbsp; </span>When the people get along, the tasks get done well and quality performance emerges automatically.</p>
<p class="bullet" style="margin-top: 5.65pt; text-align: justify;">
	<b><span style="letter-spacing: -0.15pt;">5.<span style="">&nbsp;&nbsp;&nbsp; </span>Full Attention:</span></b><span style="letter-spacing: -0.15pt;"> It would be wise to keep everyone informed of expectations from them. The people should be engaged to find solutions to troubles as well as pursuing alternates. Not just talk about open door policy, practice it. Allow people to disagree so that new ideas emerge. Adequate and/or increasing response confirms attentiveness. Listening and recognizing ideas with full involvement encourages participation. Full attention to othersâ€™ views, ideas, suggestion and communication generate energy within the team and reflects respect to each other. Most of the time, productive ideas donâ€™t get implemented due to the lack of attention. Improvement often comes from small efforts that were previously sent back without enough attention paid to them. If you encourage team to take RISK, your behaviour too must match your word so that the others in the team are confident that they are being heard with full attention. Ensure that the reminders or follow-ups about agreed move are sent in time. This will encourage participation and certainly will result in improved productivity. <br />
	</span></p>
<p class="bullet" style="text-align: justify;">
	<span style="">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </span>To conclude, research works show that performance management and performance evaluation are two different poles of the magnet.<span style="">&nbsp; </span>But both of them have the same purpose. The keys to performance are in the answers to the following questions: What is expected of us? What are we doing? What next? How are we doing? How should we be doing? When we must be doing? Why we should or must be doing?</p>
<p class="BODYTEXT">
	<span style="letter-spacing: 0.1pt;">Once, genuine answers to these are derived, Performance Management becomes integral part of our daily work life. </span></p>
<p class="BODYTEXT">
	<span style="letter-spacing: 0.1pt;">&nbsp;</span></p>
<p class="BODYTEXT" style="margin-top: 2.85pt; text-align: justify;">
	<i>(Dr Karna is Executive Chairperson, MARK Business Solutions Pvt Ltd &amp; Ad Abhyas Marketing &amp; Communications Pvt Ltd He says this article is based on various research reports and practical experiences.)</i></p>
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	<span style="font-size:14px;"><span style="font-family: times new roman,times,serif;"><span class="MyriadPro"><span style="letter-spacing: -0.05pt;"><strong><span style="color:#f00;"><em>New Comers<br />
	</em></span><br />
	<br />
	Rajiv Desraj Shrestha</strong> has joined Vijay Motors Pvt. Ltd. as General Manager. Earlier, he was Executive Manager of Dwarikaâ€™s Hotel. <br />
	<br />
	</span></span></span></span></p>
<p class="BODYTEXT" style="margin-top: 5.65pt; text-align: justify; text-indent: 0in;">
	<span style="font-size:14px;"><span style="font-family: times new roman,times,serif;"><span class="MyriadPro"><span style="letter-spacing: -0.05pt;"><strong>Laxman Khadka</strong> has joined Hotel Landmark, Pokhara as General Manager. Earlier, he was with Hotel Barahi, Pokhara at the same position. Similarly, Narahari Giri and Ashok Chalise have also joined Landmark as F &amp; B Manager and Restaurant Manager respectively. Earlier, Giri was with Bhanchhaghar Restaurant, Kathmandu as General Manager and Chalise at Hotel Himalaya as Maitre De. <br />
	<br />
	</span></span></span></span></p>
<p class="BODYTEXT" style="margin-top: 5.65pt; text-align: justify; text-indent: 0in;">
	<span style="font-size:14px;"><span style="font-family: times new roman,times,serif;"><span class="MyriadPro"><span style="letter-spacing: -0.05pt;"><strong>Rabindra Raut</strong> has joined SNV (Netherlands Development Organization) Nepal as Tea Value Chain Development Advisor. Earlier, he was with Vijay Motors Pvt Ltd as the General Manager. <br />
	<br />
	</span></span></span></span></p>
<p class="BODYTEXT" style="margin-top: 5.65pt; text-align: justify; text-indent: 0in;">
	<span style="font-size:14px;"><span style="font-family: times new roman,times,serif;"><span class="MyriadPro"><span style="letter-spacing: -0.05pt;"><strong>Upendra Napit </strong>has joined Leon Motor Pvt. Ltd. - the Sub Distributor of Mitsubishi motors for Nepal as General Manager. Earlier, he was Customer Service Manager of Padma Shree Pvt. Ltd. - the distributor of Mazda motors in Nepal. <br />
	<br />
	</span></span></span></span></p>
<p class="BODYTEXT" style="margin-top: 5.65pt; text-align: justify; text-indent: 0in;">
	<span style="font-size:14px;"><span style="font-family: times new roman,times,serif;"><span class="MyriadPro"><span style="letter-spacing: -0.05pt;"><strong>Raj Kumar KC</strong> has joined Hotel Barahi, Pokhara as Operation Manager. Earlier, he was with Shangri-La Village Pokhara as F &amp; B Manager. <br />
	<br />
	</span></span></span></span></p>
<p class="BODYTEXT" style="margin-top: 5.65pt; text-align: justify; text-indent: 0in;">
	<span style="font-size:14px;"><span style="font-family: times new roman,times,serif;"><span class="MyriadPro"><span style="letter-spacing: -0.05pt;"><strong>R B Neupane </strong>has joined Shangri-La Village Pokhara as F &amp; B Manager. Earlier he was working in India. <br />
	<br />
	</span></span></span></span></p>
<p align="left" class="BODYTEXT" style="margin-top: 5.65pt; text-align: left; text-indent: 0in;">
	<strong><span style="font-size:14px;"><span style="font-family: times new roman,times,serif;"><span class="MyriadPro"><i><span style="color: rgb(237, 28, 36); letter-spacing: -0.05pt;">Newcomers at Capital Merchant Banking and Finance <br />
	<br />
	</span></i></span></span></span></strong></p>
<p class="BODYTEXT" style="margin-top: 5.65pt; text-align: justify; text-indent: 0in;">
	<span style="font-size:14px;"><span style="font-family: times new roman,times,serif;"><span class="MyriadPro"><span style="letter-spacing: -0.05pt;"><strong>Bikash Singh Chauhan</strong> has joined Capital Merchant Banking and Finance Ltd. (CMBFL) as the Branch Manager of Damak branch. Earlier he was Sr. Accountant (Administration &amp; Loan Department) of Kankai Bikash Bank Ltd., Jhapa. Lekhraj Poudel has joined CMBFL as&nbsp; Branch Manager of Birtamode branch. Earlier he was with Gorkha Development Bank, Damak as Loan In-charge. Krishna Prasad Luitel has joined CMBFL as Branch Manager of Itahari branch. Earlier, he was Asst. Manager in Public Development Bank, Biratnagar. <br />
	<br />
	</span></span></span></span></p>
<p align="left" class="BODYTEXT" style="margin-top: 5.65pt; text-align: left; text-indent: 0in;">
	<strong><span style="font-size:14px;"><span style="font-family: times new roman,times,serif;"><span class="MyriadPro"><i><span style="color: rgb(237, 28, 36); letter-spacing: -0.05pt;">Promotions &amp; Transfers at NIC Bank <br />
	<br />
	</span></i></span></span></span></strong></p>
<p class="BODYTEXT" style="margin-top: 5.65pt; text-align: justify; text-indent: 0in;">
	<span style="font-size:14px;"><span style="font-family: times new roman,times,serif;"><span class="MyriadPro"><span style="letter-spacing: -0.05pt;"><strong>Sunil Moktan</strong> of NIC Bank has been promoted and transferred to New Baneshwor branch as Branch Manager from Operation In-charge of Satdobato branch. Rima S. Joshi has been promoted and transferred to Thamel branch as Branch Manager from Customer Service In-charge of Biratnagar branch. Kiran Bhattarai has been promoted and transferred to Maharajgunj branch as Branch Manager from Deposit Marketing Officer of Pepsi Chowk branch. Rabi Shrestha has been promoted as Branch Manager to Thankot branch from Operation In-charge of Surkhet branch. <br />
	<br />
	</span></span></span></span></p>
<p align="left" class="BODYTEXT" style="margin-top: 5.65pt; text-align: left; text-indent: 0in;">
	<strong><span style="font-size:14px;"><span style="font-family: times new roman,times,serif;"><span class="MyriadPro"><i><span style="color: rgb(237, 28, 36); letter-spacing: -0.05pt;">Promotion at Prabhu Finance Company <br />
	<br />
	</span></i></span></span></span></strong></p>
<p class="BODYTEXT" style="margin-top: 5.65pt; text-align: justify; text-indent: 0in;">
	<span style="font-size:14px;"><span style="font-family: times new roman,times,serif;"><span class="MyriadPro"><span style="letter-spacing: -0.05pt;"><strong>Kshitiz Shakya</strong> of Prabhu Finance Company Ltd. has been promoted as Branch Manager of New Road branch from Head of IT Department in the main branch of the company. <br />
	<br />
	</span></span></span></span></p>
<p align="left" class="BODYTEXT" style="margin-top: 5.65pt; text-align: left; text-indent: 0in;">
	<strong><span style="font-size:14px;"><span style="font-family: times new roman,times,serif;"><span class="MyriadPro"><i><span style="color: rgb(237, 28, 36); letter-spacing: -0.05pt;">Transfers at Nabil Bank<br />
	<br />
	</span></i></span></span></span></strong></p>
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	<span style="font-size:14px;"><span style="font-family: times new roman,times,serif;"><span class="MyriadPro"><span style="letter-spacing: 0.1pt;"><strong>Sukra Bhattarai</strong> of Nabil Bank has been transferred to Gwarko branch as Branch Manager from Branch Manager of Balwari, Rupandehi branch. Neeta Rajkarnikar has been transferred to Gwarko branch as Operation In-charge from Customer Service and Clearing In-charge of Pulchowk branch. Benu Raut has been transferred to Dhapasi Branch as Branch Manager from Branch Manager of Damak branch. Maheshwor Rimal has been transferred to Sinamangal branch as Branch Manager from Operation In-charge of Pokhara branch. Mohan Kafle has been transferred to Anamnagar branch as Branch Manager from Operation In-charge of Chabahil branch. Digendra Chand has been transferred to Aattarkhel branch as Branch Manager from Senior Officer of Central Trade Operations department at the Head office of the bank.</span></span><span style="line-height: 115%;"> <br />
	<br />
	<br />
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<p class="ANSWER" style="text-align: justify;">
	<span style="color: rgb(165, 42, 42);"><span style="font-size: 11px;"><span lang="EN-GB" style="letter-spacing: 0.25pt;">Takeyushi SATO <i>(left in the pic)</i> and Dattatraya Joshi, Managing Director and Vice President, respectively, of Hitachi Koki India, a subsidiary of Hitachi Koki Japan, were in Nepal to officially launch their products â€“ the Hitachi power equipments through Kathmandu Power Solutions (KPS). Excerpts from a joint interview:&nbsp; </span><span style="color: rgb(255, 140, 0);"><span lang="EN-GB" style="letter-spacing: 0.15pt;"><br />
	</span></span></span></span></p>
<p class="QUESTION">
	<em><span style="color: rgb(255, 140, 0);"><span lang="EN-GB" style="letter-spacing: 0.15pt;">How is Hitachi Koki doing in India? </span></span></em></p>
<p class="ANSWER" style="text-align: justify;">
	<span lang="EN-GB" style="letter-spacing: 0.15pt;">Dattatraya Joshi: It was set up in 1996 and it has its headquarters in Bangalore.<span style="">&nbsp; </span>We are into marketing of power tools in India where we have seven branches. We have an assembly facility in Bangalore. We also import finished products of Hitachi from Japan, Malaysia, China and other places. <br />
	</span></p>
<p class="QUESTION">
	<span style="color: rgb(255, 140, 0);"><em><span lang="EN-GB" style="letter-spacing: 0.15pt;">How do you view the market of electronics in Nepal?</span></em></span></p>
<p class="ANSWER" style="text-align: justify;">
	<span lang="EN-GB" style="letter-spacing: 0.15pt;">Joshi: Before appointing KPS as our distributer, we have had a small survey on the market in Nepal. Since we have studied this market carefully, we have understood the opportunities here. We know the competitors, their strengths, strategies and weaknesses. Certainly, we are very confident about having a reasonable market share in Nepal in the coming months. <span style="color: rgb(255, 140, 0);"><em><br />
	</em></span></span></p>
<p class="QUESTION">
	<span style="color: rgb(255, 140, 0);"><em><span lang="EN-GB" style="letter-spacing: 0.15pt;">What are the features of your products?</span></em></span></p>
<p class="QUESTION" style="text-align: justify;">
	<span lang="EN-GB" style="letter-spacing: 0.15pt;">Takeyushi SATO: Our products are basically power equipments like mechanised drillers, cutters and screw drivers. Joshi will tell more on it. Joshi: Our products have unique features compared to our competitors. In Nepal, we have launched 28 products. Hitachi worldwide has 700 different models. We will introduce more products in Nepali market as per the demand and requirement.<span style="">&nbsp;</span> <br />
	</span></p>
<p class="QUESTION">
	<span style="color: rgb(255, 140, 0);"><em><span lang="EN-GB" style="letter-spacing: 0.15pt;">What prospects do you see for your products in Nepal?</span></em></span></p>
<p class="QUESTION" style="text-align: justify;">
	<span lang="EN-GB" style="letter-spacing: 0.15pt;">SATO: I see a lot of prospects here. Our products consume less electricity and have long life. They are good in quality. Joshi: Nepal is basically severe power-shortage country. Our low power consuming products will prove quite handy here. We also know that many power projects are in the pipeline. Our products are eco-friendly and are quite useful in construction works. We see a lot of opportunities here. <br />
	</span></p>
<p class="QUESTION">
	<span style="color: rgb(255, 140, 0);"><em><span lang="EN-GB" style="letter-spacing: 0.15pt;">What could be the problems and challenges in Nepal?</span></em></span></p>
<p class="QUESTION" style="text-align: justify;">
	<span lang="EN-GB" style="letter-spacing: 0.15pt;">SATO: I do not see that much challenge as our main feature will be the after sales service. Chinese or other products may not have that. <br />
	</span></p>
<p class="QUESTION" style="text-align: justify;">
	<span lang="EN-GB" style="letter-spacing: 0.15pt;">Joshi: I do not see a major challenge here. Our power tools are innovative and durable. The power tools market in Nepal is dominated by Chinese products, about which the people have the general perception that they are simply â€˜use and throwâ€™ items. We want to show the users a different path in which they will be entitled to get the qualitative after sales service as well.<span style="">&nbsp; </span>After months or years of use, the end users can go to the service provider, fix the machines and reuse them.<span style="">&nbsp;</span> <br />
	</span></p>
<p class="QUESTION">
	<span style="color: rgb(255, 140, 0);"><em><span lang="EN-GB" style="letter-spacing: 0.15pt;">What could be your market strategy in Nepal?</span></em></span></p>
<p class="ANSWER" style="text-align: justify;">
	<span lang="EN-GB" style="letter-spacing: 0.15pt;">Joshi: We will share our Indian experience and advise our distributer KPS here in creating distribution network, ensuring constant availability of our products and doing some promotional activities.<span style="">&nbsp; </span>We will formulate more marketing strategy depending upon the situation. <br />
	</span></p>
<p class="QUESTION">
	<span style="color: rgb(255, 140, 0);"><em><span lang="EN-GB" style="letter-spacing: 0.15pt;">What about market share?</span></em></span></p>
<p class="QUESTION">
	<span lang="EN-GB" style="letter-spacing: 0.15pt;">SATO: Our first target will be to achieve a two-digit market share. <br />
	</span></p>
<p class="QUESTION">
	<span style="color: rgb(255, 140, 0);"><em><span lang="EN-GB" style="letter-spacing: 0.15pt;">Who are your competitors?</span></em></span></p>
<p class="MsoNormal" style="text-align: justify;">
	<span lang="EN-GB" style="letter-spacing: 0.15pt;">SATO: Bosch, a German multinational is the market leader in Nepal in the upper segment, i.e., the branded products. The other major players are Makita (Japan) and Dewald (USA). Including Hitachi now, the competition will be among these four branded companies. We do not have competition with low priced Chinese products, as we are not targeting that particular market segment. Our focus is only on upper segment.</span> </p>',
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	<b><span aldine401="" bt="" color:="" letter-spacing:="" serif="" style="font-size: 55.5pt;"><span style="font-size: 16px;">B</span></span></b><span aldine401="" bt="" color:="" letter-spacing:="" serif="" style="font-size: 9.5pt;">ank of Kathmandu (BOK) has two distinct identities. One, it is among the few commercial banks managed entirely by Nepali professionals. Second, it is the only commercial bank with more shares in the hands of the public shareholders than with the promoters. The Bank recorded some 25 per cent increase in its net profit in the first quarter of the current fiscal year (2010/11). In the first quarter of last fiscal year (2009/10), the Bank had a net profit of Rs 120 million. In this yearâ€™s corresponding period, the Bankâ€™s net profit rose by some 40 million to cross Rs 160 million. <br />
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	<span aldine401="" bt="" color:="" letter-spacing:="" serif="" style="font-size: 9.5pt;">â€œThis time around, it was not wise to thicken the balance sheet by increasing deposits. Rather, we focused on increasing the net profit,â€ says Ajay Shrestha, Chief Executive Officer of the Bank since February 2010. â€œAggressive deposit increase would only add to the costs. Thatâ€™s why, we diverted our focus.â€ <br />
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	<span aldine401="" bt="" color:="" letter-spacing:="" serif="" style="font-size: 9.5pt;">Though Shrestha joined BOK as its CEO just one year ago, he was not a complete stranger. He was the duty of the CEO in BOK for some six years and had left it to work in another bank. It was only two years gap when he rejoined BOK in February 2010. <br />
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	<span aldine401="" bt="" color:="" letter-spacing:="" serif="" style="font-size: 9.5pt;">As of today, the total deposit of the Bank is around Rs 18 billion and the loan outstanding is around Rs 17 billion. â€œWe are observing whether the same growth in profit margin will sustain in the coming quarters as well,â€ Shrestha adds. â€œOur effort will be to gain a reasonable growth in the profitability. Overall, our balance sheet is stable.â€ <br />
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	<span aldine401="" bt="" color:="" letter-spacing:="" serif="" style="font-size: 9.5pt;">BOK started operation in March 1995 as a joint venture with the Siam Commercial Bank of Thailand. But the Bank could not do well due to various problems and the main reason cited is the â€˜mixed-culture managementâ€™ of that time with Nepali and Thai management style not finding synergy. <br />
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	<span aldine401="" bt="" color:="" letter-spacing:="" serif="" style="font-size: 9.5pt;">So, Siam Commercial Bank pulled out in the year 2000 selling its shares to the general Nepali public. The result was that the Bankâ€™s management came to entirely Nepali hands and the performance of the Bank started turning around. The efforts undertaken during 2001-2004 period set the foundation for the Bankâ€™s success in the following years, notes Shrestha. <br />
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	<span aldine401="" bt="" color:="" letter-spacing:="" serif="" style="font-size: 9.5pt;">During this period, the Bank changed the customer profile. It focused on importers and exporters and also started project financing in areas such as medical colleges and hydropower. Though the Bank continued financing the corporate sector, it also initiated retail banking at the same time. Under retail banking, the Bank encouraged small account holders to open â€˜Sajilo Bachat Khataâ€™ which translates to â€˜easy saving accountâ€™. <br />
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	<span aldine401="" bt="" color:="" letter-spacing:="" serif="" style="font-size: 9.5pt;">Today, the Bank has 37 branches including the head office at Kamaladi, Kathmandu, 41 ATM outlets and 6 extension counters across the country. <br />
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	<span aldine401="" bt="" color:="" letter-spacing:="" serif="" style="font-size: 9.5pt;">According to Shrestha, the human resource management of the bank is based on the concept of looking basically on two factors: recruitment standard and growth potential. â€œUnder the first, we evaluate whether the new recruit is as per the level and requirements that we have set. Under the second, we provide growth potentials within the organisation for the hired ones.â€ <br />
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	<span aldine401="" bt="" color:="" letter-spacing:="" serif="" style="font-size: 9.5pt;">The Bank, however, is not always lucky to get the manpower of required quality. Though most of the newcomers have a management degree, they still need brushing up their skills. The reason is that the fresh graduates are mostly with academic background in finance but the Bank needs people also for non-finance fields such as marketing, general management etc. This sometimes creates problems for the Bank. Marketing is very crucial for a bank to sustain and expand. â€œBut, we donâ€™t often get the manpower trained and educated on quality marketing,â€ laments Shrestha. <br />
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	<span aldine401="" bt="" color:="" letter-spacing:="" serif="" style="font-size: 9.5pt;">However, the challenges in the human resource field donâ€™t end there. As the competition is stiff in banking sector, one bankâ€™s capable employees are lured by other banks offering attractive perks and benefits. According to Shrestha, his bank is facing this challenge by continuous training process. He stresses that as long as a bank has the capacity to train its staff, it would not be a problem when some individuals leave the bank. <br />
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	<span aldine401="" bt="" color:="" letter-spacing:="" serif="" style="font-size: 9.5pt;">At present, the number of employees with the Bank is 780. <br />
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	<span aldine401="" bt="" color:="" letter-spacing:="" serif="" style="font-size: 9.5pt;">According to the opinion of Shrestha, the people donâ€™t differentiate between the banks much. For them, bank A and bank B are the same, he says and underlines the need to educate the people so that they could differentiate between the banks. <br />
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	<span aldine401="" bt="" color:="" letter-spacing:="" serif="" style="font-size: 9.5pt;">When Shrestha rejoined BOK as its CEO in February 2010, Shrestha mainly concentrated on two initiatives to increase the customer base. First, he offered higher interest rates to small depositors and next, he brought the â€˜unbankedâ€™ population to banking service. In this connection, the Bank paid attention to expanding customer base outside the Kathmandu valley. And the result is that, in the last 10 months or so, some 30 thousand new accounts were opened in the Bank. â€œWe ran a campaign making people aware that deposits are important in life. Being present ourselves in the field, we helped women, the disabled and the low income people open their own bank accounts,â€ says he. <br />
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	<span aldine401="" bt="" color:="" letter-spacing:="" serif="" style="font-size: 9.5pt;">An account can be opened in BOK with Rs 1000 as balance to which the Bank adds Rs 300 from its side, thus making the â€˜seed moneyâ€™ rise up to Rs 1300. The Bank has also removed the minimum deposit requirement in the fixed deposit. However, BOK has not offered â€˜zero balanceâ€™ or â€˜Rs 1â€ accounts that many other banks are offering.<span style="">&nbsp; </span>â€œZero balance or Rs 1 accounts may not help the people to learn about generating value from their deposits. Thatâ€™s why we did not go for that,â€ explains Shrestha.<span style="">&nbsp;</span> <br />
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	<span aldine401="" bt="" color:="" letter-spacing:="" serif="" style="font-size: 9.5pt;">Another strategic decision of the Bank is to focus its lending to a few areas so that the profiting position is not lost. Therefore, the Bank is providing only a few types of loans such as corporate loan, SME loan, retail loan, credit card and development credit. The Bank has plans to become even more focused, reveals Shrestha. <br />
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	<span aldine401="" bt="" color:="" letter-spacing:="" serif="" style="font-size: 9.5pt;">The Bank has changed even its focus in Corporate Social Responsibility. In the past, the Bankâ€™s key priority areas used to be education, health and environment. But for the past few years, the Bank has been focusing on finance and banking. Under this, the Bank has been campaigning to raise peopleâ€™s awareness on the value of deposits with the slogan, â€œWe make your life easier.â€ <br />
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	<span style="font-size: 24px;"><span style="font-family: &quot;Franklin Gothic Heavy&quot;,&quot;sans-serif&quot;; color: rgb(237, 28, 36);">NIC Bankâ€™s</span><span style="font-family: &quot;Franklin Gothic Heavy&quot;,&quot;sans-serif&quot;; color: rgb(46, 48, 146);">&nbsp; Productive </span><span style="line-height: 115%; font-family: &quot;Franklin Gothic Heavy&quot;,&quot;sans-serif&quot;; color: rgb(46, 48, 146);">Orientation</span></span></p>
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	<span style="font-size: 55.5pt; letter-spacing: -0.2pt;"><span style="font-size: 20px;"><span style="font-size: 18px;">W</span></span></span><span style="letter-spacing: -0.2pt;">ith the conclusion of its 13th Annual General Meeting, Nepal Industrial and Commercial Bank Limited (NIC) has decided to distribute a cash dividend of 26.32 per cent. This is one of the highest dividend payout by any bank in 2010. The Bank posted a Net Profit of Rs 449.8 million in FY 2009/10 which is 42 per cent more than last year. The Bankâ€™s Non-Performing Loans are very low at 0.7 per cent. Similarly, in the first four months of this year, the Bank has posted an operating profit of Rs 289 million. The investment of the Bank has also increased from Rs 3.026 billion to Rs 4.947 billion in FY 2009/10 which signifies 63 per cent growth. â€œOur investment portfolio clearly indicates that our exposure in productive sector is more than 90 per cent. We continue to capitalize on our strengths by increasing our investment in this sector. However, Small and Medium Enterprise sector will be focused more,â€ says Sunil Pokharel, Head, Retail Banking, NIC Bank. <br />
	</span></p>
<p class="BODYTEXT">
	<span style="letter-spacing: -0.2pt;">The total workforce of the Bank is 320 with 33 per cent female. <br />
	</span></p>
<p class="BODYTEXT" style="text-align: justify;">
	<span style="letter-spacing: -0.2pt;">NIC Bank had commenced its operation on 21st July, 1998 with its head office in Biratnagar. Promoted by several prominent business houses of Nepal, it started with a capital of Rs 500 million which was the highest paid up capital of any bank at that time. The paid-up capital increased to Rs 1.31 billion in FY 2009/10. The Bank has been in profit since its inception and has recorded a robust growth in its overall business and profitability during the recent years. <br />
	</span></p>
<p class="BODYTEXT" style="text-align: justify;">
	<span style="letter-spacing: -0.2pt;">The Bank has been consistently embarking on sustainable network expansion and has successfully added several new branches every year in strategic new locations. At present, the Bank has a total of 28 branches and 26 ATMs across the country serving more than 112,000 customers. The Bank will shortly be opening four more branches and adding 10 ATMs. All its branches are inter-connected through V-SAT and optical-fibre network which is capable of providing on-line real time transactions. <br />
	</span></p>
<p class="BODYTEXT" style="text-align: justify;">
	<span style="letter-spacing: -0.2pt;">Being the first ISO 9001:2008 certified commercial bank of the country, NIC has raised the bars on competition and become more committed towards delivering quality and superior products and services to the customers as well as maintaining corporate governance within its staffs. <br />
	</span></p>
<p class="BODYTEXT" style="text-align: justify;">
	<span style="letter-spacing: -0.2pt;">NIC Bank has played a pioneering role in the Nepali banking sector introducing innovative and customized products and services to its customers. Deposit Products, Business Banking, SME Banking, Consumer Banking, Transaction Banking and Bullion Business are some of the products and services offered by NIC. â€œWe are the first bank to introduce Savings Account Scheme bundled with life insurance. Also, we are the first to introduce fixed deposit account with the ease of a savings account. Recently, we have launched â€œComplete Savings Accountsâ€ â€“ a truly hassle free account for an individual and â€œNIC- Remit Savings Accountsâ€ with unique features for those receiving fund from overseas,â€ says Pokharel.<span style="">&nbsp;</span> <br />
	</span></p>
<p class="BODYTEXT" style="text-align: justify;">
	<span style="letter-spacing: -0.2pt;">NIC was awarded â€œBank of the Year 2007â€ honour by The Banker Magazine, Financial Times, London. Besides this, it is the first bank in Nepal to be provided a line of credit by International Finance Corporation (IFC), an arm of World Bank Group under its Global Trade Finance Program, enabling the Bankâ€™s Letter of Credit and Guarantee to be accepted by more than 200 banks worldwide. Also, it is the first bank to offer bullion trading and to offer lowest-price home loan schemes. <br />
	</span></p>
<p class="BODYTEXT" style="text-align: justify;">
	<span style="letter-spacing: -0.2pt;">Over the course of five successive fiscal years, the bankâ€™s performance has been tremendous. The Compounded Annual Growth Rate (CAGR) of the bank<span style="">&nbsp; </span>is one of the highest in the industry for the last five years (see table). â€œThe competition has always been tough. The increasing numbers of banks have now forced to come out from its comfort zone to provide quality services and look for new avenues in order to increase revenue by introducing new and innovative products to its customers. Therefore, we cannot be an exception,â€ says Pokharel. He adds, â€œWe consider ourselves at the adolescence stage of corporate life cycle and there is a long way to have a turning point. We strongly believe in a positive corporate cultureâ€.<span style="">&nbsp;</span> <br />
	</span></p>
<p class="BODYTEXT" style="text-align: justify;">
	<span style="letter-spacing: -0.2pt;">The bank has special and distinct Corporate Social Responsibility (CSR) practice. It has sponsored many events and programs which mainly focus on enabling talent through education, creating opportunities through social investments and corporate volunteering. All the contributions and sponsorships come under the Bankâ€™s CSR. As a responsible corporate house, NIC Bank contributes to the society in various ways through NIC Foundation (NICF), an independent non-profit organization promoted by the Bank. The foundationâ€™s main objective is to bring positive societal changes through charitable works. It aims at helping marginalized and underprivileged communities through education, health and skill development. NIC has been providing scholarship to under privileged but meritorious girl children in Kathmandu. It has also been providing scholarship to the visually challenged students who hail from Jumla to pursue their higher education in Kathmandu. It has donated computers to a school of a remote area and provided financial assistance to an orphanage in Birgunj. It has donated two ambulances in Mid-Western Regional Hospital in Surkhet. It has also helped in construction of Mata Tripurasundari Temple at Dhobighat, Lalitpur and has supported to construct a trail from Kusma to Modi Beni in Parbat district. The Bank has also been organizing a Blood Donation Campaign every year. Furthermore, the Bank has also donated for the flood victims in Koshi and diarrhoea victims in Jajarkot. The Bank has recently taken initiatives for the development of sports in Nepal and has sponsored National Open Gymnastics Championship. NICFâ€™s programs are sustained by the Bankâ€™s contribution of 0.5 per cent from its annual profits. NIC is the only bank to have fixed the proportion of its profit to be set aside for such cause. <br />
	</span></p>
<p class="MsoNormal">
	<span style="letter-spacing: -0.2pt;">Being a well established brand with 12 years history, NIC aims to continue striving for better performance and exceed the expectation of all stakeholders. Precisely, the Bankâ€™s future plans are based on providing â€œComplete Financial Solutionsâ€ to the customers and good return on investment to its shareholders. â€œApart from increasing footprints and investment in technology and system-upgradation (core banking system), we are also coming with new tailor made products to serve our anticipated customer needs. Also, we are bringing innovative products and services suitable for corporate customers as well as retail customers,â€ says Pokharel. </span></p>
<p class="MsoNormal" style="text-align: center;">
	<span style="font-size: 24px;"><span color:="" franklin="" gothic="" heavy="" sans-serif="">Imperial Finance</span><span color:="" franklin="" gothic="" heavy="" sans-serif="">: </span><span style="line-height: 115%; font-family: FranklinGothic; color: rgb(0, 94, 157);">Slow but Steady Steps</span></span></p>
<p class="MsoNormal" style="margin-bottom: 0.0001pt; line-height: 11pt; vertical-align: middle; text-align: justify;">
	<span aldine401="" bt="" color:="" serif="" style="font-size: 9.5pt;">Imperial Finance Limited opened a branch on January 14, 2011 at New Road of Kathmandu. Though the company now has only two branches, the presence in the main business centre of the capital gives a very positive message as it is sure to contribute to the business expansion of the company. Established in March 2006 with Rs 50 million as the paid up capital, the company is growing robust with the capital now increased to Rs 150 million. <br />
	</span></p>
<p class="MsoNormal" style="margin-bottom: 0.0001pt; text-align: justify; text-indent: 14.15pt; line-height: 11pt; vertical-align: middle;">
	<span aldine401="" bt="" color:="" serif="" style="font-size: 9.5pt;"><br />
	</span></p>
<p class="MsoNormal" style="margin-bottom: 0.0001pt; text-align: justify; text-indent: 14.15pt; line-height: 11pt; vertical-align: middle;">
	<span aldine401="" bt="" color:="" serif="" style="font-size: 9.5pt;">Binod Karki, Chief Executive Officer (CEO) of the company says that the visionary dedication of the founder members has brought the company to this point. The company now has its own building to house its head office for about three years now. <br />
	</span></p>
<p class="MsoNormal" style="margin-bottom: 0.0001pt; text-align: justify; text-indent: 14.15pt; line-height: 11pt; vertical-align: middle;">
	<span aldine401="" bt="" color:="" serif="" style="font-size: 9.5pt;"><br />
	</span></p>
<p class="MsoNormal" style="margin-bottom: 0.0001pt; text-align: justify; text-indent: 14.15pt; line-height: 11pt; vertical-align: middle;">
	<span aldine401="" bt="" color:="" serif="" style="font-size: 9.5pt;">Today the company has expanded to two branches and multiplied its capital thrice from Rs 50 million to Rs 150 million, notes Karki who joined the company as the third CEO recently. Now the company is planning to increase its capital to Rs 200 million by 2013 (2070 BS) as required by the central bank. The promoters own 61 percent in the company withy the rest 39 per cent held by the general people. <br />
	</span></p>
<p class="MsoNormal" style="margin-bottom: 0.0001pt; text-align: justify; text-indent: 14.15pt; line-height: 11pt; vertical-align: middle;">
	<span aldine401="" bt="" color:="" serif="" style="font-size: 9.5pt;"><br />
	</span></p>
<p class="MsoNormal" style="margin-bottom: 0.0001pt; text-align: justify; text-indent: 14.15pt; line-height: 11pt; vertical-align: middle;">
	<span aldine401="" bt="" color:="" serif="" style="font-size: 9.5pt;">To increase the capital, the company is distributing bonus shares. Last year the company provided 20 per cent bonus share and this year it is giving 15 per cent bonus share. Karki says that the company might also need to issue rights share in the coming days to meet the target of the capital increment. <br />
	</span></p>
<p class="MsoNormal" style="margin-bottom: 0.0001pt; text-align: justify; text-indent: 14.15pt; line-height: 11pt; vertical-align: middle;">
	<span aldine401="" bt="" color:="" serif="" style="font-size: 9.5pt;"><br />
	</span></p>
<p class="MsoNormal" style="margin-bottom: 0.0001pt; text-align: justify; text-indent: 14.15pt; line-height: 11pt; vertical-align: middle;">
	<span aldine401="" bt="" color:="" serif="" style="font-size: 9.5pt;">The company has made an operating profit of Rs 47.12 million in the first quarter of the current fiscal year while it was Rs 52.04 million in the same period last year. <br />
	</span></p>
<p class="MsoNormal" style="margin-bottom: 0.0001pt; text-align: justify; text-indent: 14.15pt; line-height: 11pt; vertical-align: middle;">
	<span aldine401="" bt="" color:="" serif="" style="font-size: 9.5pt;"><br />
	</span></p>
<p class="MsoNormal" style="margin-bottom: 0.0001pt; text-align: justify; text-indent: 14.15pt; line-height: 11pt; vertical-align: middle;">
	<span aldine401="" bt="" color:="" serif="" style="font-size: 9.5pt;">Last year the company had opened a branch in Narayanghat of Chitwan and the branch expansion continued this year with the New Road facility opened. But that is not sufficient for competition in the market that has so many players â€“ commercial banks, development banks, finance companies and saving-credit cooperatives. However, Karki is confident of his companyâ€™s competitiveness.<span style="">&nbsp; </span>Karki says, â€œWe find ourselves ahead based on the asset and loan quality when compared to other companies.â€ <br />
	</span></p>
<p class="MsoNormal" style="margin-bottom: 0.0001pt; text-align: justify; text-indent: 14.15pt; line-height: 11pt; vertical-align: middle;">
	<span aldine401="" bt="" color:="" serif="" style="font-size: 9.5pt;"><br />
	</span></p>
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	<b><span style="font-size: 12.5pt; letter-spacing: 0.2pt;">T</span></b><span style="letter-spacing: 0.2pt;">he Extravagant inauguration of Nepal Tourism Year (NTY)- 2011 on 14th January marked the beginning of a yearlong campaign aimed at attracting one million international tourists to Nepal. A well orchestrated mega event was surely a source of new hope for the Nepalis w<input type="hidden" />ho for years were devoid of any optimistic gesture from our sullen political leadership. <br />
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	<span style="letter-spacing: 0.2pt;">But NTY is not politics, it is the pure business. This is the fact which our politicians put on the backburner once again. Millions of rupees were spent to choreograph the parades, paragliders and political speeches at the Dashrath Stadium of Kathmandu. But the link between the event held in the capital and sublime purpose of attracting one million&nbsp; tourist was apparently missing, to say the least. According to the sources in Ministry of Tourism and Civil Aviation, the inauguration ceremony alone cost about Rs 25 million to the state exchequer. But no one involved in the feast is probably able to establish how&nbsp; a single Nepal bound international tourist would be influenced by this event. <br />
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	<b><span style="font-size: 12.5pt; letter-spacing: 0.2pt;"><img alt="from the editor" border="1" height="221" hspace="10" src="http://www.newbusinessage.com/ckfinder/userfiles/Images/nty.jpg" style="width: 267px; height: 221px;margin:10px;padding:10px;" vspace="10" width="267" /></span></b></p>
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	<span style="letter-spacing: 0.2pt;">Instead, had the visionaries of NTY&nbsp; 2011 spent the amount&nbsp; Rs one million each for 25 potentially tourist originating countries for example for international promotion of Nepal as the most fascinating destination, the impact would have been certainly more productive. The flaw could be dismissed as all the public sector decisions are like that. But here, our private sector leaders are boasting to be the managers of the entire activities; in that case, it is also the failure of the private sector. <br />
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	<span style="letter-spacing: 0.2pt;">Not only the inauguration ceremony of NY&nbsp; 2011 was marred by Nepal's inward looking flaws, the campaign and promotion planning for the entire event appears ad-hoc. Hiccups like the government's failure to release the budget it committed were already there. But in more serious note, the steering committee did not bother to mobilise diplomatic channels to promote NTY. The greatest testimony to it was, the USA issued adverse travel advisory to its citizens not to visit Nepal, on the very eve of the inauguration. <br />
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	<span style="letter-spacing: 0.2pt;">The complaints of the sector like sports on their exclusion is also valid, as claimed, they could have developed products of sports and other sector tourism. Regardless of anything that went right or wrong, the NTY has already begun. Therefore, the remaining period of time and resources must be used purposefully, unlike the way it was done for the inauguration.</span></p>',
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<p class="MsoNormal">
	<span style="font-size:12px;"><i><span color:="" lucida="" style="line-height: 120%;"><img alt="" border="4" hspace="3" src="http://www.newbusinessage.com/ckfinder/userfiles/Images/no.jpg" style="width: 129px; height: 155px;" vspace="2" /></span></i></span></p>
<p class="MsoNormal">
	<span style="font-size: 12px;"><i><span color:="" lucida="" style="line-height: 120%;">By Madan Lamsal</span></i></span></p>
<p class="MsoNormal">
	 </p>
<p class="MsoNormal">
	<span style="line-height: 115%;"><br />
	</span></p>
<p class="BODYTEXT" style="text-indent: 0in;">
	<span style="font-size: 12px;"><span class="MyriadPro"><b><span aldine401="">T</span></b></span><span class="MyriadPro"><span aldine401="">hese days, there is a lot of news about revenue officers running behind some prominent Nepali business people. The charge on the poor business people was simple: they produced some fake VAT bills. This was indeed an unbelievable revelation as Nepali businesses selectively employ many Chartered Accountants, lawyers, tax experts and also, former bureaucrats.&nbsp; Why were all these trained hands supporting the private businesses not able to protect the firms from the clutches of the tax officers ? <br />
	</span></span></span></p>
<p class="BODYTEXT" style="text-indent: 0in;">
	 </p>
<p class="BODYTEXT">
	<span style="font-size: 12px;"><span class="MyriadPro"><span aldine401="">Economists sometimes argue that tax officers, tax accountants and tax lawyers don't perform any kind of productive function for the economy. But these economists are wrong in absolute terms. Let's first take the case of tax officers; they are highly productive. Look at the multi-million rupees bungalow of a revenue clerk at the heart of Kathmandu, who indeed had descended empty-handed from the high hills just a few years ago. And, gauge the pace of his productivity -- out of ten thousand rupees salary a month, he could multiple his income at least twenty fold to become so rich in no time. <br />
	</span></span></span></p>
<p class="BODYTEXT">
	<span style="font-size:12px;"><span class="MyriadPro"><span aldine401=""><br />
	</span></span></span></p>
<p class="BODYTEXT">
	<span style="font-size: 12px;"><span class="MyriadPro"><span aldine401="">Looking at the present determination exuded by some of the bureaucrats in tax administration, sworn to take action with tax evaders, one may find it hard to believe that these public servants work hand-in-glove with the private firms. But the recent episode of vowed action is true exception and is sure to evaporate in a couple of <br />
	</span></span></span></p>
<p class="BODYTEXT">
	<span style="font-size:12px;"><span class="MyriadPro"><span aldine401=""><br />
	</span></span></span></p>
<p class="BODYTEXT" style="text-align: justify;">
	<span style="font-size:12px;"><span class="MyriadPro"><span aldine401=""><img alt="" border="4" hspace="3" src="http://www.newbusinessage.com/ckfinder/userfiles/Images/img.jpg" style="width: 358px; height: 254px;" vspace="3" /></span></span></span></p>
<p class="BODYTEXT">
	<span style="font-size: 12px;"><span class="MyriadPro"><span aldine401="">months, if not days, without anything tangible. But the norm is: bureaucrats help the businesses to increase the profitability, and in turn, businesses reciprocate to enhance the productivity. <br />
	</span></span></span></p>
<p class="BODYTEXT">
	<span style="font-size:12px;"><span class="MyriadPro"><span aldine401=""><br />
	</span></span></span></p>
<p class="BODYTEXT">
	<span style="font-size: 12px;"><span class="MyriadPro"><span aldine401="">What could be the better productivity of CAs or tax accountants than helping their client save the tax money? They may call it tax planning, tax saving or tax avoiding, but in effect they help save money. Who on earth can say that saving is not being productive? It is a public knowledge that the best skill of an accountant lies in maintaining the balance in balance sheets. The more the cash balance, the merrier the client. This process, rather than an isolated incidence, duly recognizes the productive ability of CA and consolidates the productivity potential of the saver. <br />
	</span></span></span></p>
<p class="BODYTEXT">
	<span style="font-size:12px;"><span class="MyriadPro"><span aldine401=""><br />
	</span></span></span></p>
<p class="BODYTEXT">
	<span style="font-size: 12px;"><span class="MyriadPro"><span aldine401="">Because, not paying tax is also being highly productive. Even if you do, the amount is sure to go to the pockets of some politicians who sit in Singhadurbar or Baneswore who just eat-up time quarrelling for a chair, instead of being productive. Instead. look at how our business people could be productive out of saved money by not paying taxes. They could set up industries and production units. They can use it for their marriages, perhaps more than one, and increase their productivity. Even their luxury trips help promote value tourism that may include a number of heavenly pleasures, which in essence has to be reproduced or replenished by the tourism industry. <br />
	</span></span></span></p>
<p class="BODYTEXT">
	<span style="font-size:12px;"><span class="MyriadPro"><span aldine401=""><br />
	</span></span></span></p>
<p class="BODYTEXT">
	<span style="font-size: 12px;"><span class="MyriadPro"><span aldine401="">The tax lawyers are even more productive. These are the people who can swing the double-edged swords. They can produce the documents that are helpful for the businesses to evade the taxes at the first place and defend even indefensible if caught by the authorities. Simultaneously, they may be able to provide information to different departments or organizations like Inland Revenue Department, Flying Squad, CIAA, Revenue Tribunal etc, at least for 15 per cent legal commission.</span></span></span></p>
<p class="BODYTEXT">
	<span style="font-size:12px;"><span class="MyriadPro"><span aldine401=""><br />
	</span></span></span></p>
<p class="MsoNormal">
	<span style="font-size: 12px;"><span class="MyriadPro"><span aldine401="" letter-spacing:="">All these analogies must be enough to firmly establish that not to pay tax is being more productive than paying it. Then why not abolish the tax system altogether ? <br />
	</span></span></span></p>
<p class="MsoNormal">
	 </p>
<p class="MsoNormal">
	<span style="font-size:12px;"><span class="MyriadPro"><span aldine401="" letter-spacing:=""><br />
	</span></span></span></p>',
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			'content' => '<p class="BREAKER" style="text-indent: 14.15pt;">
	<span style="font-size:12px;"><span style="font-size: 12px;"><span class="MyriadPro"><span franklin="" gothic="" medium="" sans-serif="">Even as a school boy, Raju Babu Shrestha had pictured that being the eldest son, he will be helping out his father and someday would fill his formidable shoes. <br />
	<br />
	</span></span></span></span></p>
<p class="MsoNormal">
	 </p>
<p class="MsoNormal">
	<span style="font-size:12px;"><span class="MyriadPro"><i><img align="left" alt="personality" border="1" height="299" hspace="5" src="http://www.newbusinessage.com/ckfinder/userfiles/Images/rajubaabu shrestha.jpg" style="width: 247px; height: 299px;margin:10px;padding:10px;" vspace="5" width="247" /></i></span></span></p>
<p class="MsoNormal">
	<span style="font-size: 12px;"><span class="MyriadPro"><i><br />
	</i></span></span></p>
<p class="MsoNormal">
	<span style="font-size: 12px;"><span class="MyriadPro"><i>By Pinaki Roy</i></span><span style="line-height: 115%;"> <br />
	</span></span></p>
<p class="nbasubhead2">
	<span style="font-size:12px;"><span bright="" lucida="" serif="" style="line-height: 120%;">Raju Babu Shrestha</span></span></p>
<p class="nbasubhead2">
	<span style="font-size:12px;"><i><span bright="" lucida="" serif="" style="line-height: 120%;">Director</span></i></span></p>
<p class="MsoNormal">
	<span style="font-size:12px;"><i><span bright="" lucida="" serif="" style="line-height: 115%;">Chitawon Co-E Nepal (P) Ltd <br />
	</span></i></span></p>
<p class="MsoNormal" style="margin-bottom: 0.0001pt; vertical-align: middle;">
	<span style="font-size: 12px;"><b><span aldine401="" bt="" color:="" serif=""><br />
	</span></b></span></p>
<p class="MsoNormal" style="margin-bottom: 0.0001pt; vertical-align: middle;">
	<span style="font-size: 12px;"><b><span aldine401="" bt="" color:="" serif="">H</span></b><span aldine401="" bt="" color:="" serif="">ailing from a business family, life was not exactly a bed of roses for Raju Babu Shrestha till as they say, lady luck smiled on him. Despite working very hard and giving it all he had, the period from 1982-1988 was a difficult one for him and his family business, Chitawon Construction &amp; Engineering Company Nepal (P) Ltd also known as Chitawon Co-E Nepal (P) Ltd. However, his marriage in 1988 changed his fortunes and there was no looking back ever since, says Shrestha. If someone told me that getting married will bring me luck, I would have married earlier, he adds tongue-in-cheek.&nbsp;</span></span></p>
<p class="MsoNormal" style="margin-bottom: 0.0001pt; vertical-align: middle;">
	<span style="font-size:12px;"><span aldine401="" bt="" color:="" serif=""><br />
	</span></span></p>
<p class="MsoNormal" style="margin-bottom: 0.0001pt; text-indent: 14.15pt; vertical-align: middle;">
	<span style="font-size: 12px;"><span aldine401="" bt="" color:="" serif="">Business runs in Shrestha's blood, his forefathers were from Gorkha and dealt in trading activities. But his father Laxman Babu Shrestha had different ideas in mind. And so, Chitawon Co-E Nepal (P) Ltd was registered as a proprietorship concern in 1966. Later, having proven its performance in various construction projects with excellent results, the company was promoted to class A Contractor in 1978. The Flagship Company has come a long way and today boasts of an impressive portfolio of companies including Manakamana Darshan (P) Ltd, Sagarmatha Power Company (P) Ltd, Nepal Ropeway Systems (P) Ltd, and Chitawon Milk (P) Ltd. Shrestha holds the position of Director in all these companies. <br />
	</span></span></p>
<p class="MsoNormal" style="margin-bottom: 0.0001pt; text-indent: 14.15pt; vertical-align: middle;">
	<span style="font-size:12px;"><span aldine401="" bt="" color:="" serif=""><br />
	</span></span></p>
<p class="MsoNormal" style="margin-bottom: 0.0001pt; text-indent: 14.15pt; vertical-align: middle;">
	<span style="font-size: 12px;"><span aldine401="" bt="" color:="" serif="">He fondly remembers his early days in Chitwan when though life was difficult due to lack of transportation; he still enjoyed his bicycle rides in the forested terrain. While in middle school, he would accompany his father and visit various construction sites for irrigation canals, roads, and dams. That was the seed period as Shrestha precisely knew what he wanted to do in life when he was grown up enough. He could envisage that he will be helping out his father being the eldest son and someday would fill his formidable shoes.&nbsp;</span></span></p>
<p class="MsoNormal" style="margin-bottom: 0.0001pt; text-indent: 14.15pt; vertical-align: middle;">
	<span style="font-size:12px;"><span aldine401="" bt="" color:="" serif=""><br />
	</span></span></p>
<p class="MsoNormal" style="margin-bottom: 0.0001pt; text-indent: 14.15pt; vertical-align: middle;">
	<span style="font-size: 12px;"><span aldine401="" bt="" color:="" serif="">Shrestha came back to his birthplace Kathmandu to pursue High School as a boarder at Ananda Kuti Vidyapith. After graduating from High School, he wanted to study engineering but sacrificed his dream to help his father. Instead, he enrolled for a Bachelor of Science programme in Mathematics at Amrit Science Campus that would allow him more time for business. He started work while in college and gained hands-on experience which would come in handy for his future course in life. Bijayapur Irrigation Project in Pokhara was the first project I handled independently, he proudly states. A firm believer in making a contribution to the country's development, he has been instrumental in diversifying, mechanising and developing the family business.&nbsp;</span></span></p>
<p class="MsoNormal" style="margin-bottom: 0.0001pt; text-indent: 14.15pt; vertical-align: middle;">
	<span style="font-size:12px;"><span aldine401="" bt="" color:="" serif=""><br />
	</span></span></p>
<p class="MsoNormal" style="margin-bottom: 0.0001pt; text-indent: 14.15pt; vertical-align: middle;">
	<span style="font-size: 12px;"><span aldine401="" bt="" color:="" serif="">As a young boy, Shrestha was a tad shy when it came to making acquaintance with girls but never felt that he must have a girlfriend. Times have changed,he sighs. Always having led an orthodox and simple life, his was an arranged marriage. Proud of having fathered three beautiful daughters, he says he doesn't miss having a son, Today, the world has moved on. It's no longer considered a disadvantage not to have a son for an heir. He is confident that all his daughters will make him proud as they grow up. Like father, like daughter his eldest daughter is already on the right path, pursuing her Bachelor in Business Administration degree from Webster University. She is already taking an interest in business matters and shows signs of promise to hold </span></span><span style="font-size: 12px;"><span>the fort when the time comes. </span></span></p>
<p class="MsoNormal" style="margin-bottom: 0.0001pt; text-align: justify; text-indent: 14.15pt; vertical-align: middle;">
	<span style="font-size:12px;"><span aldine401="" bt="" color:="" serif=""><img align="left" alt="persoanlity" border="1" height="522" hspace="5" src="http://www.newbusinessage.com/ckfinder/userfiles/Images/Raju Babu Shrestha1.jpg" style="width: 364px; height: 522px;margin:10px;padding:10px;" vspace="5" width="364" /></span></span></p>
<p class="MsoNormal" style="margin-bottom: 0.0001pt; text-indent: 14.15pt; vertical-align: middle;">
	<span style="font-size: 12px;"><span aldine401="" bt="" color:="" serif=""><br />
	</span></span></p>
<p class="MsoNormal" style="margin-bottom: 0.0001pt; text-indent: 14.15pt; vertical-align: middle;">
	<span style="font-size: 12px;"><span aldine401="" bt="" color:="" serif="">Shrestha does not believe in showing off and hence lives an austere lifestyle. Glamour is not his forte. You will seldom see him wearing expensive suits unless he is attending a business conference or a formal occasion. He is clad in casual wear (read Jeans, T-Shirts, Working boots, Jackets) most of the time as his work involves field (on site) work. He is most comfortable when he is among friends or at an informal gathering as he doesn't have to worry too much about what he is wearing. Shrestha likes to call himself old-fashioned. A family man to the core, he draws inspiration from his wife, She always gives me positive vibes. Whenever he is short on motivation, he looks up to his father from whom he learnt the tricks of the trade. He has always been my role model, he says.&nbsp;</span></span></p>
<p class="MsoNormal" style="margin-bottom: 0.0001pt; text-indent: 14.15pt; vertical-align: middle;">
	<span style="font-size:12px;"><span aldine401="" bt="" color:="" serif=""><br />
	</span></span></p>
<p class="MsoNormal" style="margin-bottom: 0.0001pt; text-indent: 14.15pt; vertical-align: middle;">
	<span style="font-size: 12px;"><span aldine401="" bt="" color:="" serif="">Despite a busy schedule, Shrestha manages to find time to travel within Nepal as well as abroad. Whenever time permits, he sets along to tour a new destination, either with friends or family, in search of nature and adventure. He has already visited 50 districts in Nepal for work or purely on vacation. He has toured a host of foreign countries for business as well as leisure&nbsp; United Kingdom, Japan, Germany, China, Austria, Italy, and Korea to name a few. His favourite cuisines include Korean, Japanese, and Chinese&nbsp; he is only too happy that his favourite cuisines are available in some Kathmandu restaurants as well. Shrestha loves to cook as it helps him de-stress, keep healthy and relax. The best part is that my family loves my cooking too which makes me feel good, he chuckles. <br />
	</span></span></p>
<p class="MsoNormal" style="margin-bottom: 0.0001pt; text-indent: 14.15pt; vertical-align: middle;">
	<span style="font-size:12px;"><span aldine401="" bt="" color:="" serif=""><br />
	</span></span></p>
<p class="MsoNormal" style="margin-bottom: 0.0001pt; text-indent: 14.15pt; vertical-align: middle;">
	<span style="font-size: 12px;"><span aldine401="" bt="" color:="" serif="">You wonder if having achieved so much has made him complacent. On the contrary, Shrestha says that his job is far from finished. â€œI agree that when I think of my early days, I do feel I have achieved a great deal and am satisfied about the whole thing but it has also increased my obligations and responsibilities. To maintain the heights that we have reached is the current challenge, he explains. Shrestha says that wealth creation is not his sole objective. He has everything that a man can want in terms of material needs. He hopes that whatever he does, it should benefit the people of the country. <br />
	</span></span></p>
<p class="MsoNormal" style="margin-bottom: 0.0001pt; text-indent: 14.15pt; vertical-align: middle;">
	<span style="font-size:12px;"><span aldine401="" bt="" color:="" serif=""><br />
	</span></span></p>
<p class="MsoNormal" style="margin-bottom: 0.0001pt; text-indent: 14.15pt; vertical-align: middle;">
	<span style="font-size: 12px;"><span aldine401="" bt="" color:="" letter-spacing:="" serif="">Not the one to rest on his past laurels, Shrestha has several projects up his sleeve. Expanding Cable Car services is one. After the highly successful Manakamana Cable Car that connects Kurintar in Chitwan with Manakamana in Gorkha, there are at least two similar projects in feasibility study phase presently. He is optimistic that the proposed Cable Car projects in Pokhara and Kalinchok (Dolakha), when completed, will facilitate tourism development in the respective areas. He also plans to set up an agricultural machinery and tools enterprise which will import to begin with and get into manufacturing in due course of time.&nbsp; Chitawon Milk is another project that's close to his heart. The company produces skimmed milk powder, baby food, yogurt, butter, and ghee etc. He is hopeful that it will uplift professional cow farming and encourage milk farmers to produce more. This will benefit the economic condition of the farmers as well as the national economy.</span></span></p>
<p class="MsoNormal" style="margin-bottom: 0.0001pt; text-indent: 14.15pt; vertical-align: middle;">
	<span style="font-size:12px;"><span aldine401="" bt="" color:="" letter-spacing:="" serif=""><br />
	</span></span></p>
<p class="MsoNormal">
	<span style="font-size: 12px;"><span aldine401="" bt="" color:="" letter-spacing:="" serif="" style="line-height: 115%;">As if he was not finished yet, Shrestha revealed another aspect of his personality&nbsp; he is an Art Lover. He visits art exhibitions when he can and likes to collect Nepali art. He especially likes buying natural material and even designs them with help from his artist friend Shyam Lal Shrestha. When you step into his living room, you'll find it to be a work-of-art, literally. The ceiling has many blocks of Newari art, each of them symbolising a different meaning. Shrestha says he is very lucky to have a loving family as family binding is most important&nbsp; it helps him remain grounded. <br />
	</span></span></p>
<p class="MsoNormal">
	<span style="font-size:12px;"><span aldine401="" bt="" color:="" letter-spacing:="" serif="" style="line-height: 115%;"><br />
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<p class="NoParagraphStyle" style="margin-bottom: 5.65pt;">
	<span style="font-size:12px;"><em><span style="color: rgb(0, 0, 0);"><strong><span class="MyriadPro"><span style="line-height: 120%;">''Software Industry in Nepal is Much Bigger than &nbsp;We Think It is''</span></span></strong></span></em></span></p>
<p class="NoParagraphStyle" style="margin-bottom: 5.65pt;">
	<span style="font-size:12px;"><br />
	</span></p>
<p class="questionsforinterview">
	<span style="font-size:12px;"><em><span style="color: rgb(0, 0, 0);"><span class="MyriadPro"><span bt="" frnkgothitc="" hv="" lang="EN-GB" sans-serif=""><img align="left" alt="sanjib" border="1" height="167" hspace="5" src="http://www.newbusinessage.com/ckfinder/userfiles/Images/Sanjib Raj Bhandari1.jpg" style="width: 205px; height: 167px;margin:10px;padding:10px;" vspace="5" width="205" /></span></span></span></em></span></p>
<p class="questionsforinterview" style="text-align: justify;">
	<span style="font-size:12px;"><em><span style="color: rgb(0, 0, 0);"><span class="MyriadPro"><span bt="" frnkgothitc="" hv="" lang="EN-GB" sans-serif="">Sanjib Raj Bhandari</span><span lang="EN-GB"> is the CEO of Mercantile Office Systems, the pioneer company in Nepal's IT sector. Having seen the evolution of sorts in IT in the past two decades, Raj Bhandari himself has effected a sea-change in his business, priorities and processes. At the beginning, his company was a computer distributer in the mid-1980s, became an internet service provider in 1990s, produced own brands of computers in the beginning of 2000, and now in 2011, Mercantile is chiefly a software producing company. Mercantile-produced software are extensively used in Nepal, especially in the banking sector. Raj Bhandari foresees Nepal's great future in IT, as well as expresses concern that we are among the â€œbottom fewâ€ in the global IT map. He says Nepal also lags in South Asia behind India, Pakistan, Sri Lanka and Bangladesh. Excerpts:&nbsp;&nbsp; </span><span lang="EN-GB" style="letter-spacing: -0.1pt;"><br />
	</span></span></span></em></span></p>
<p class="ANSWER" style="text-align: justify;">
	<span style="font-size:12px;"><span style="color: rgb(0, 0, 0);"><strong><span class="MyriadPro"><span lang="EN-GB" style="letter-spacing: -0.1pt;">Your company Mercantile has been considered one of the pioneers in Nepal's IT sector. How do you view the growth of the sector over the period of last two decades?</span></span></strong></span></span></p>
<p class="ANSWER" style="text-align: justify;">
	<span style="font-size:12px;"><span style="color: rgb(0, 0, 0);"><span class="MyriadPro"><span lang="EN-GB" style="letter-spacing: -0.1pt;">The growth has been tremendous over this period. If you look at the very beginning in the early 1990, we had a problem not only with the fact that we were all very new to IT sector, but there were no government policies specially addressing this sector. Computers and its parts were considered luxury items thumbing that the ordinary people do not need them. That psyche was reflected in the government policies. We had a lot of difficulties in doing business not only of hardware but also the software. The policies vis-Ã&nbsp;-vis IT sector were very unfriendly. <br />
	</span></span></span></span></p>
<p class="ANSWER" style="text-align: justify;">
	<span style="font-size:12px;"><span style="color: rgb(0, 0, 0);"><span class="MyriadPro"><span lang="EN-GB" style="letter-spacing: -0.1pt;">We've come a very-very long way. Today the overall policies are very positive. This transformation has helped both the hardware and software industries to grow. There's been a sea of change not only in the IT development but also on how the government and the people at large perceive the IT now.&nbsp; <br />
	</span></span></span></span></p>
<p class="questionsforinterview" style="text-align: justify;">
	<span style="font-size:12px;"><span style="color: rgb(0, 0, 0);"><span class="MyriadPro"><span lang="EN-GB" style="letter-spacing: -0.1pt;">Could you please elaborate on how Mercantile managed to grow to become the market leader as it is now?</span></span></span></span></p>
<p class="ANSWER" style="text-align: justify;">
	<span style="font-size:12px;"><span style="color: rgb(0, 0, 0);"><span class="MyriadPro"><span lang="EN-GB" style="letter-spacing: -0.1pt;">I run a number of IT companies, of which I run two flagship companies from this building (see picture). The first one is Mercantile Office Systems (MOS), which we started in 1985. It concentrated mainly on distribution of computer and IT related products and software development. We started internet business including email under the MOS in 1992-93. The second one is Mercantile Communications which we started in 1995. We did not know too much when we started internet service under the MOS. It was very much exploring and doing things as you go along. We did not have much technical know-how. Internet was completely new. When we started email service in December 1993, email was not available for the public in India. When we started the internet in 1995, commercial internet had just begun in Singapore. It would not begin in India for another 3 or 4 years. So it was very-very new, we would not know what we were doing, we learnt as we went along, we sought help from a lot of people from outside. Today you can go and hire engineers. In those days, we did not find engineers. We had to actually train our own engineers.&nbsp;&nbsp;&nbsp; <strong><br />
	</strong></span></span></span></span></p>
<p class="questionsforinterview" style="text-align: justify;">
	<span style="font-size:12px;"><strong><span style="color: rgb(0, 0, 0);"><span class="MyriadPro"><span lang="EN-GB" style="letter-spacing: -0.1pt;">You have been selling your own Mercantile brand of computers and office systems. Do you see any need to bring changes in your products or services? </span></span></span></strong></span></p>
<p class="ANSWER" style="text-align: justify;">
	<span style="font-size:12px;"><span style="color: rgb(0, 0, 0);"><span class="MyriadPro"><span lang="EN-GB" style="letter-spacing: -0.1pt;">We have been distributing computers since 1985. In the beginning of 2000, we experimented with our own products. We were very successful for two years, but later we could not compete with the international products. The reason was that we needed to be 25 per cent cheaper than the international products and the other products available. In the beginning, we could maintain the difference but later we could not. So, we slowly phased the production out. We don't have the products now. <br />
	</span></span></span></span></p>
<p class="questionsforinterview">
	<span style="font-size:12px;"><strong><span style="color: rgb(0, 0, 0);"><span class="MyriadPro"><span lang="EN-GB" style="letter-spacing: -0.1pt;">Your company software are extensively used by Nepali companies. What distinguishes your products and services from the others?</span></span></span></strong></span></p>
<p class="ANSWER" style="text-align: justify;">
	<span style="font-size:12px;"><span style="color: rgb(0, 0, 0);"><span class="MyriadPro"><span lang="EN-GB" style="letter-spacing: -0.1pt;">I think it is the quality. We have from the very beginning emphasised on quality and we have always maintained ourselves and concentrated on niche market. We have seldom gone for mass market. Most of our services are in the gear to corporates. Some of our products like computer notebooks and communication software are now available for mass marketing. Our services like technical, banking and software services have always been very selective. That's how we actually maintain our profile. <br />
	</span></span></span></span></p>
<p class="questionsforinterview" style="text-align: justify;">
	<span style="font-size:12px;"><strong><span style="color: rgb(0, 0, 0);"><span class="MyriadPro"><span lang="EN-GB" style="letter-spacing: -0.1pt;">Could you tell us where does Nepal stand in the global IT map and what position Nepal has in South Asia? What are the hindrances as well as prospects for the growth of this sector?</span></span></span></strong></span></p>
<p class="ANSWER" style="text-align: justify;">
	<span style="font-size:12px;"><span style="color: rgb(0, 0, 0);"><span class="MyriadPro"><span lang="EN-GB" style="letter-spacing: -0.1pt;">If there were a global IT map, we would find ourselves in the bottom few. I often say that our proximity with India is only in relation to geography. Our proximity with India is not in development scale, manufacturing and specially IT. In South Asia, India is way-way up, then would come Pakistan or Sri Lanka not necessarily in the order, and we would be close behind Bangladesh but it does not mean too much, as we still have a lot of run to cover.&nbsp;&nbsp;&nbsp; <br />
	</span></span></span></span></p>
<p class="ANSWER" style="text-align: justify;">
	<span style="font-size:12px;"><span style="color: rgb(0, 0, 0);"><span class="MyriadPro"><span lang="EN-GB" style="letter-spacing: -0.1pt;">Nonetheless, the software industry in Nepal is much bigger than we think it is. We do not have proper statistics. But my guess is that there are over 5,000 people working in the software industry of Nepal. There are maybe 40 to 50 companies that have employed some 30 to 40 people each. There could be as many as 10 companies with over 100 people in each. Many of these companies are involved in software exports. Their figures do not reflect national figures because many of them do not want to come out in the open as it would create far too big problems for them. And, as their customer base is abroad and as they do not need a formal registration in Nepal, they choose not to be in the legal hassles here. This is something the government really needs to address. &nbsp;&nbsp;&nbsp; </span></span></span></span></p>
<p class="ANSWER" style="text-align: justify;">
	<span style="font-size:12px;"><span style="color: rgb(0, 0, 0);"><span class="MyriadPro"><span lang="EN-GB" style="letter-spacing: -0.1pt;">There are a lot of capabilities within the country to develop software. If you look at the hardware sales, the value addition, in terms services, distribution and warranty the Nepali companies provide, is between 2 to 8 per cent. If you look at the software, the value addition is over 90 per cent. There are some 7-8 companies that are exporting services to where the potential lies.&nbsp;&nbsp; <br />
	</span></span></span></span></p>
<p class="questionsforinterview">
	<span style="font-size:12px;"><strong><span style="color: rgb(0, 0, 0);"><span class="MyriadPro"><span lang="EN-GB" style="letter-spacing: -0.1pt;">How are the government policies impacting on the growth of this sector? </span></span></span></strong></span></p>
<p class="ANSWER" style="text-align: justify;">
	<span style="font-size:12px;"><span style="color: rgb(0, 0, 0);"><span class="MyriadPro"><span lang="EN-GB" style="letter-spacing: -0.1pt;">The government role is obviously very-very important here. But, the software industry does not need, does not look for government leadership and does not make their plans and projects relying or looking at the government action. The private sector must lead. If the government can catch up the pace, it's fine. Otherwise, the growth will find its own path. A great example is the trekking business. When the trekking agencies started in the 1970s, they organised themselves without government aid. Later on, the government came in to issue the licenses to them. The government has policies and has made policies in the past too. But execution has been the problem in Nepal. Emphasis really has to be on execution, not so much on formulating and announcing the policies. <br />
	</span></span></span></span></p>
<p class="questionsforinterview" style="text-align: justify;">
	<span style="font-size:12px;"><strong><span style="color: rgb(0, 0, 0);"><span class="MyriadPro"><span lang="EN-GB" style="letter-spacing: -0.1pt;">Do you see any possibility of government and private sector working together for the development of IT sector?</span></span></span></strong></span></p>
<p class="ANSWER" style="text-align: justify;">
	<span style="font-size:12px;"><span style="color: rgb(0, 0, 0);"><span class="MyriadPro"><span lang="EN-GB" style="letter-spacing: -0.1pt;">Traditionally, we think that the partnership between the government and private sector is fruitful. But, what we have discovered is that the government has very soft corner for IT sector, but still the cooperation has not yielded true fruits. This is not only the fault of the government. I feel the private sector too has not played its part. When you demand so many things from the government, you make your business compatible to the policies and accountable to the country. If you look at any industrial development in Nepal, it has always been private sector led. So the progress has to be made by private sector. If the government assists, it is welcome; if it doesnâ€™t, it need not be bothered.</span> <br />
	</span></span></span></p>
<p class="ANSWER" style="text-align: justify;">
	<span style="font-size:12px;"><span style="color: rgb(0, 0, 0);"><span class="MyriadPro"><span lang="EN-GB" style="letter-spacing: -0.1pt;">As I previously mentioned, the initiatives has been taken by the private sector. However, if the government and the private sector were to cooperate, the government could obviously help with better and improved policies. The government could also help by buying software and looking for solutions, let's say in electricity or telecom companies. This encourages Nepali IT companies to take part. But right now, the terms, conditions and perks in international standards that the government boasts are rather punitive to Nepali companies. I repeat they are not only discriminatory but also punitive. Those companies put such conditions which Nepali companies simply cannot meet. Or, if they can be met, they could be agents only. This is very humiliating. It is fine if the government entertains the business from international companies in the area where Nepali IT companies cannot compete. But the Nepali government is disqualifying the Nepali companies for many other reasons. To correct this, the government need not do too many things. What it can do is to just encourage, invite and qualify Nepali companies to take part in business bidding to provide service for Nepal government and institutions. There could be many areas like e-commerce, trade, billing boards for telecom and other government bodies â€“ where the Nepali companies too can perform well, given little amendment in service procurement mechanism. Therefore, for now it would be enough to revoke the punitive and discriminatory policies on the part of the government; let alone making fancy policies. <br />
	</span></span></span></span></p>
<p class="questionsforinterview" style="text-align: justify;">
	<span style="font-size:12px;"><strong><span style="color: rgb(0, 0, 0);"><span class="MyriadPro"><span lang="EN-GB" style="letter-spacing: -0.1pt;">The Computer Association of Nepal (CAN) and ICT Association of Nepal are holding Info Tech Fairs every year. How do you evaluate the role of these fairs in promoting IT business in the country?</span></span></span></strong></span></p>
<p class="ANSWER" style="text-align: justify;">
	<span style="font-size:12px;"><span style="color: rgb(0, 0, 0);"><span class="MyriadPro"><span lang="EN-GB" style="letter-spacing: -0.1pt;">The CAN and ICT info-tech fair attracts hundreds of thousands of visitors every year. Obviously it plays the central role in awareness, as it educates the public at large. However, it is almost like the flagship event for CAN and ICT. It is important for these organisations to focus and involve in other large events of info-tech. Right now they are perceived as single event institutions. They need to move out of that.&nbsp;&nbsp; <br />
	</span></span></span></span></p>
<p class="questionsforinterview" style="text-align: justify;">
	<span style="font-size:12px;"><strong><span style="color: rgb(0, 0, 0);"><span class="MyriadPro"><span lang="EN-GB">There are some unused infrastructures on IT, one of them being the IT Park in Banepa, Kavre. Why do you think such utilities are almost defunct? </span></span></span></strong></span></p>
<p class="ANSWER" style="text-align: justify;">
	<span style="font-size:12px;"><span style="color: rgb(0, 0, 0);"><span class="MyriadPro"><span lang="EN-GB" style="letter-spacing: -0.1pt;">In 1992, a high level commission was set up to look at the development of IT and the benefits of IT Park. Ten years down the line, many things have changed, in particular the communication technologies. The IT Park is yet to embrace the changes. That could be the major reason for it being a mess.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; <br />
	</span></span></span></span></p>
<p class="questionsforinterview" style="text-align: justify;">
	<span style="font-size:12px;"><strong><span style="color: rgb(0, 0, 0);"><span class="MyriadPro"><span lang="EN-GB">Still, don't you think there is a digital divide prevalent in the country? How do you think such divide can be narrowed down? </span></span></span></strong></span></p>
<p class="ANSWER" style="text-align: justify;">
	<span style="font-size:12px;"><span style="color: rgb(0, 0, 0);"><span class="MyriadPro"><span lang="EN-GB" style="letter-spacing: -0.1pt;">Digital divide is alarming. Only one or two per cent of Nepali people have access to internet and IT in general. Increasing the access of people to IT and telecommunications can lower the digital divide as both these sectors are complimentary and intertwined. The number of people having access to IT and telecommunications is increasing. I'm happy with that and hopeful too.&nbsp;&nbsp; <br />
	</span></span></span></span></p>
<p class="questionsforinterview" style="text-align: justify;">
	<span style="font-size:12px;"><strong><span style="color: rgb(0, 0, 0);"><span class="MyriadPro"><span lang="EN-GB">As a matter of fact, your company operates an online media too. How much do think it has contributed to the growth of online media in Nepal? How economically feasible is it?</span></span></span></strong></span></p>
<p class="ANSWER" style="text-align: justify;">
	<span style="font-size:12px;"><span style="color: rgb(0, 0, 0);"><span class="MyriadPro"><span lang="EN-GB" style="letter-spacing: -0.1pt;">When we established a news portal in 1999, it was definitely not sustainable for the next 5-6 years. But today for the last 3 or 4 years, the portal has been doing fine economically too. We have hired almost 20 people. The portal pays for itself and is also making money. Online media came with more people having access to communication, computer and education. To have access to online media, one must have computer device, must have access to communication and must be educated. In developed markets, the online media has overshadowed the traditional media. I am still doubtful that will happen in Nepal in the foreseeable future. <br />
	</span></span></span></span></p>
<p class="questionsforinterview">
	<span style="font-size:12px;"><strong><span style="color: rgb(0, 0, 0);"><span class="MyriadPro"><span lang="EN-GB" style="letter-spacing: -0.1pt;">Every successful company stores plans for future as well. What about yours? </span></span></span></strong></span></p>
<p class="ANSWER" style="text-align: justify;">
	<span style="font-size:12px;"><span style="color: rgb(0, 0, 0);"><span class="MyriadPro"><span lang="EN-GB" style="letter-spacing: -0.1pt;">We will obviously expand on our communication network. We will expand our institutional network to cover entire country now. In banking software, we expect to grow at least 100 per cent on year basis. We are also looking on international market and we are very hopeful. As of now, over 50 per cent of the banks, over 70 per cent of the development banks and 90 per cent of the finance companies use our software. This covers almost 1000 branches in the country's financial system. Even if you say each branch in average uses this software 20 to 30 times, some 20 to 30 thousand use our software daily.&nbsp;&nbsp;&nbsp;&nbsp; <br />
	</span></span></span></span></p>
<p class="questionsforinterview">
	<span style="font-size:12px;"><strong><span style="color: rgb(0, 0, 0);"><span class="MyriadPro"><span lang="EN-GB" style="letter-spacing: -0.1pt;">What could be the way forward?</span></span></span></strong></span></p>
<p class="ANSWER" style="text-align: justify;">
	<span style="font-size:12px;"><span style="color: rgb(0, 0, 0);"><span class="MyriadPro"><span lang="EN-GB" style="letter-spacing: -0.1pt;">With the growth of communication and education and population as well, the IT sector can only grow. I see its great future in Nepal.&nbsp;</span><span style="letter-spacing: -0.1pt;"> </span></span></span></span></p>
<p class="MsoNormal">
	<span style="font-size:12px;"><span style="color: rgb(0, 0, 0);"><span style="line-height: 115%;">&nbsp;</span></span></span></p>',
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			'description' => 'Sanjib Raj Bhandari is the CEO of Mercantile Office Systems, the pioneer company in Nepal's IT sector. Having seen the evolution of sorts in IT in the past two decades, Raj Bhandari himself has effected a sea-change in his business, priorities',
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			'title' => 'Feedback February 2011',
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			'content' => '<p class="MsoNormal" style="margin-bottom: 0.0001pt; line-height: 11pt; vertical-align: middle;">
	<span style="font-size: 12px;"><span style="color: rgb(0, 0, 0);"><span aldine401="" bt="" color:="" serif=""><strong>Going Green With Bicycles</strong><br />
	<br />
	T</span><span aldine401="" bt="" color:="" letter-spacing:="" serif="">here was good news published on January issue of Nubiz about the Laxmi Bank going green. The bank's initiative to encourage staff to ride bicycle to office at least a day in a week is really commendable. That is something every corporate house and company should choose to do. It not only helps make the environment greener but also is a healthy way to reach office.</span></span></span></p>
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	<span style="font-size:12px;"><span style="color: rgb(0, 0, 0);"><span aldine401="" bt="" color:="" letter-spacing:="" serif=""><br />
	</span></span></span></p>
<p class="MsoNormal">
	<span style="font-size:12px;"><span style="color: rgb(0, 0, 0);"><span aldine401="" bt="" color:="" letter-spacing:="" serif="">It would be better, if we, the working people, can do it voluntarily rather than imposed by our bosses. Riding a bicycle is the best option over the car or the motorbike. Bicycles also help expand the crowded and squeezed streets like ours. And it also adds some relief to the parking space crisis.</span></span></span></p>
<p class="MsoNormal">
	<span style="font-size:12px;"><span style="color: rgb(0, 0, 0);"><span aldine401="" bt="" color:="" serif="" style="line-height: 115%;">Reading about the green program I am planning to opt for similar way to reach office. And I am surely going to discuss with my colleagues on the greener, healthier and economic way to reach my workstation. But I â'm still not that much sure how much the roads of Kathmandu are suitable for bicycles.</span></span></span></p>
<p class="MsoNormal" style="margin-bottom: 0.0001pt; line-height: 11pt; vertical-align: middle;">
	<span style="font-size:12px;"><span style="color: rgb(0, 0, 0);"><b><span aldine401="" bt="" color:="" serif="">- Binaya Khatiwada</span></b></span></span></p>
<p class="MsoNormal">
	<span style="font-size:12px;"><span style="color: rgb(0, 0, 0);"><b><span aldine401="" bt="" color:="" serif="" style="line-height: 115%;">&nbsp;Kalopul, Kathmandu</span></b></span></span></p>
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	<span style="font-size:12px;"><span style="color: rgb(0, 0, 0);"><b><span aldine401="" bt="" color:="" serif="" style="line-height: 115%;"><br />
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	<span style="font-size:12px;"><span style="color: rgb(0, 0, 0);"><b><span aldine401="" bt="" color:="" serif="" style="line-height: 115%;">--------------------------------------------------------------------------------------------------<br />
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	<span style="font-size:12px;"><span style="color: rgb(0, 0, 0);"><b><span aldine401="" bt="" color:="" serif="" style="line-height: 115%;"><br />
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<p class="BODYTEXT" style="text-indent: 0in;">
	<span style="font-size: 14px;"><span style="color: rgb(0, 0, 0);"><b><span aldine401="" bt="" color:="" serif="" style="line-height: 115%;">&nbsp;</span></b><span cond="" demi="" franklin="" gothic="" sans-serif="">Corporate Responsibility&nbsp;&nbsp; <br />
	</span></span></span></p>
<p class="BODYTEXT" style="text-indent: 0in;">
	<span style="font-size:14px;"><span style="color: rgb(0, 0, 0);"><span cond="" demi="" franklin="" gothic="" sans-serif="">&nbsp;&nbsp;&nbsp;&nbsp; </span></span></span></p>
<p class="BODYTEXT" style="text-indent: 0in;">
	<span style="font-size:12px;"><span style="color: rgb(0, 0, 0);">'CSR a Useless Concept ?&nbsp; an article by Catrin Froehlich sparked a thought in my mind. The Nepali corporate houses may claim that they are making huge non-profit contributions to the society in the name of corporate social responsibility (CSR). But as Froehlich rightly pointed out, mostly, there are some long term profit motives attached to any CSR initiative. The corporate houses are always looking for a win-win situation. I don't think business houses pour money into anything in the name of CSR without looking for any return. A bank&nbsp; investing&nbsp; in sponsoring educating students in a school is certain that those students in&nbsp; future will open accounts or buy shares of the bank and also work as the agents to encourage others to&nbsp; buy&nbsp; services and products of that bank. Similarly, they foresee a lot of businesses and calculate the return of CSR activities. On the other hand, CSR activities are the publicity stunts, too, to grab the attention of consumers towards the brand names in less cost than the cost of media advertisements.</span></span></p>
<p class="MsoNormal" style="margin-bottom: 0.0001pt; line-height: 11pt; vertical-align: middle;">
	<span style="font-size:12px;"><span style="color: rgb(0, 0, 0);"><b><span aldine401="" bt="" color:="" serif="">- Srijana Shrestha</span></b></span></span></p>
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	<span style="font-size:12px;"><span style="color: rgb(0, 0, 0);"><b><span aldine401="" bt="" color:="" serif="" style="line-height: 115%;">Bhaktapur</span></b></span></span></p>
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	<span style="font-size: 12px;"><span style="color: rgb(0, 0, 0);"><b><span aldine401="" bt="" color:="" serif="" style="line-height: 115%;">&nbsp;</span></b></span></span></p>
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	<span style="font-size:12px;"><span style="color: rgb(0, 0, 0);"><b><span style="line-height: 115%;">--------------------------------------------------------------------------------------------------</span></b></span></span></p>
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	<span style="font-size:12px;"><span style="color: rgb(0, 0, 0);"><b><span style="line-height: 115%;"><br />
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<p class="BODYTEXT" style="text-indent: 0in;">
	<strong><span style="font-size:14px;"><span style="color: rgb(0, 0, 0);"><span cond="" demi="" franklin="" gothic="" sans-serif="">It is HR Solutions</span></span></span></strong></p>
<p class="BODYTEXT" style="text-indent: 0in;">
	<span style="font-size:12px;"><span style="color: rgb(0, 0, 0);">Thank you so much for publishing the HR Kurakani on your reputed magazine.&nbsp; I would like to bring into notice the major mistake in the article i.e. the name of our organization is Real solutions but it has been written in the beginning of the article as HR solutions.</span></span></p>
<p class="BODYTEXT">
	<span style="font-size:12px;"><span style="color: rgb(0, 0, 0);">Thanking you!</span></span></p>
<p class="BODYTEXT" style="text-indent: 0in;">
	<span style="font-size:12px;"><span style="color: rgb(0, 0, 0);"><b>- Kriti</b></span></span></p>
<p class="BODYTEXT" style="text-indent: 0in;">
	<span style="font-size:12px;"><span style="color: rgb(0, 0, 0);"><b>meroJob.com</b></span></span></p>
<p class="BODYTEXT">
	<span style="font-size: 12px;"><span style="color: rgb(0, 0, 0);"><i>(We regret the error. - Ed.)</i></span></span></p>
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	<span style="font-size:12px;"><span style="color: rgb(0, 0, 0);"><i><br />
	</i></span></span></p>
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<p class="BODYTEXT" style="text-indent: 0in;">
	<span style="font-size: 14px;"><span style="color: rgb(0, 0, 0);"><span cond="" demi="" franklin="" gothic="" sans-serif="">Chicks Will Grow</span></span></span></p>
<p class="MsoNormal" style="margin-bottom: 0.0001pt; vertical-align: middle;">
	<span style="font-size: 12px;"><span style="color: rgb(0, 0, 0);"><span aldine401="" bt="" color:="" letter-spacing:="" serif="">T</span><span aldine401="" bt="" color:="" letter-spacing:="" serif="">he Cover Story of January 2011 issue titled as Chicks are Growing put forward a very positive picture of poultry business that is growing by 30 per cent annually. This is the industry at the common people's level and it can be operated in the backyard of village homes. Poultry farming can be done by any farmer or anyone interested. It is not only the source of cash for the farmers but also a contributor to the national economy. The Cover Story says it all: this industry is contributing some three per cent to the GDP.</span></span></span></p>
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	<span style="font-size:12px;"><span style="color: rgb(0, 0, 0);"><span aldine401="" bt="" color:="" letter-spacing:="" serif=""><br />
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	<span style="font-size: 12px;"><span style="color: rgb(0, 0, 0);"><span aldine401="" bt="" color:="" letter-spacing:="" serif="">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; It is good that the Nepali poultry farmers are not so much scared now of the diseases like bird flu as they are now more aware about how to fight such incidences when they appear. Meanwhile, the availability of veterinary doctors and medicines is expanding to help the farmers. The availability of big markets in the urban areas is being utilised by the farmers and this industry provides ample evidence that the Nepali farmers are quite adept to adapt to the changing market situation no matter what their level of education may be. <br />
	</span></span></span></p>
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	<span style="font-size:12px;"><span style="color: rgb(0, 0, 0);"><span aldine401="" bt="" color:="" letter-spacing:="" serif=""><br />
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	<span style="font-size: 12px;"><span style="color: rgb(0, 0, 0);"><span aldine401="" bt="" color:="" letter-spacing:="" serif="">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; However, the story also reveals that the per capita consumption of poultry meat is still low in the country.&nbsp; The consumption of poultry products should be encouraged due to its nutritional value. If that can be done, there is even a bigger market prospects. That means more income for the farmers and also the nation. We should not forget the market in our neighbouring countries as well. The quality products will always get a place everywhere. If food processing industries can be established, agro based and especially poultry related business will benefit the most.</span></span></span></p>
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	<span style="font-size:12px;"><span style="color: rgb(0, 0, 0);"><span aldine401="" bt="" color:="" letter-spacing:="" serif=""><br />
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	<span style="font-size:12px;"><span style="color: rgb(0, 0, 0);"><span aldine401="" bt="" color:="" letter-spacing:="" serif="" style="line-height: 115%;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; The trend shows this industry is growing and there is prospect for more growth. The state must be promoting this sector in all possible ways so as to make this business self-reliant and stronger to become even the international supplier. I believe chicks are growing and will continue to grow in the future too.</span></span></span></p>
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	<span style="font-size:12px;"><span style="color: rgb(0, 0, 0);"><span aldine401="" bt="" color:="" letter-spacing:="" serif="" style="line-height: 115%;">&nbsp;</span></span></span></p>
<p class="MsoNormal">
	<span style="font-size:12px;"><span style="color: rgb(0, 0, 0);"><b><span aldine401="" bt="" color:="" serif="">- Rabindra Pudasaini</span><br />
	<span aldine401="" bt="" color:="" serif="" style="line-height: 115%;">Chitwan</span></b></span></span></p>',
			'published' => true,
			'created' => '2011-02-07',
			'modified' => '2012-08-28',
			'keywords' => '',
			'description' => 'There was good news published on January issue of Nubiz about the Laxmi Bank going green. The bank's initiative to encourage staff to ride bicycle to office at least a day in a week is really commendable. That is something every corporate house and......',
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	(int) 12 => array(
		'Article' => array(
			'id' => '203',
			'article_category_id' => '47',
			'title' => 'Weaving Dreams & Carpets',
			'sub_title' => '',
			'summary' => null,
			'content' => '<p class="MsoNormal" style="margin-bottom: 0.0001pt; text-align: justify; line-height: normal;">
	<span style="font-size:12px;"><a href="http://www.newbusinessage.com/ckfinder/userfiles/Images/Senon D Lama.jpg"><img align="left" alt="" border="1" height="385" hspace="3" src="http://www.newbusinessage.com/ckfinder/userfiles/Images/Senon D Lama.jpg" style="width: 257px; height: 385px;margin:10px;padding:10px;" vspace="2" width="257" /></a><span color:="" franklingothic-medium="" sans-serif=""> </span><b><span bright="" color:="" lucida="" serif="">Senon D Lama</span></b></span></p>
<p class="MsoNormal" style="margin-bottom: 0.0001pt; text-align: justify; line-height: normal;">
	<span style="font-size:12px;"><i><span bright="" color:="" lucida="" serif="">Chairman and Managing Director,</span></i></span></p>
<p class="MsoNormal" style="margin-bottom: 0.0001pt; text-align: justify; line-height: normal;">
	<span style="font-size:12px;"><i><span bright="" color:="" lucida="" serif="">Senon Carpet Industries,</span></i></span></p>
<p class="MsoNormal" style="margin-bottom: 0.0001pt; text-align: justify; line-height: normal;">
	<span style="font-size:12px;"><i><span bright="" color:="" lucida="" serif="">Hotel Shahanshah Int'l &amp;</span></i></span></p>
<p class="MsoNormal" style="margin-bottom: 0.0001pt; text-align: justify; line-height: normal;">
	<span style="font-size:12px;"><i><span bright="" color:="" lucida="" serif="">System Holder</span></i></span></p>
<p class="MsoNormal" style="margin-bottom: 0.0001pt; text-align: justify; line-height: normal;">
	<span style="font-size:12px;"><span color:="" franklingothic-medium="" sans-serif="">&nbsp;</span></span></p>
<p class="MsoNormal" style="margin-bottom: 0.0001pt; text-align: justify; line-height: normal;">
	<span style="font-size: 12px;"><span color:="" franklingothic-medium="" sans-serif="">When Senon started his business, the production in Nepal was very low as carpets were imported from India. The market in the beginning was non-challenging. We never had to worry that the products would not be sold. The supply was small and the demand was much higher.â€ Unlike today, his company used to decide on quality, design and size, and the buyers used to buy what was available.</span></span></p>
<p class="MsoNormal" style="margin-bottom: 0.0001pt; text-align: justify; line-height: normal;">
	<span style="font-size:12px;"><span color:="" franklingothic-medium="" sans-serif=""><br />
	</span></span></p>
<p class="MsoNormal" style="margin-bottom: 0.0001pt; text-align: justify; line-height: normal;">
	<span style="font-size: 12px;"><i><span aldine401bt-italica="" serif="">By Gaurav Aryal&nbsp; <br />
	</span></i></span></p>
<p class="MsoNormal" style="margin-bottom: 0.0001pt; text-align: justify; line-height: normal;">
	<span style="font-size:12px;"><i><span aldine401bt-italica="" serif=""><br />
	</span></i></span></p>
<p class="MsoNormal" style="margin-bottom: 0.0001pt; text-align: justify; line-height: normal;">
	<span style="font-size:12px;"><span color:="" franklingothic-heavy="" sans-serif="">W</span><span aldine401bt-romana="" color:="" serif="">hen Senon D Lama stepped into the carpet business, he had just a dozen of looms to weave his passion. Now he is a full-fledged carpet businessman with an annual turnover of USD 1 to 1.5 million a year. He has diversified also in hospitality industries. Thus he is the the Chairman and Managing Director of Senon Carpet Industries Pvt Ltd, Hotel Shahanshah International Pvt Ltd and a sports club called the System Holder Pvt Ltd.</span></span></p>
<p class="MsoNormal" style="margin-bottom: 0.0001pt; text-align: justify; line-height: normal;">
	<span style="font-size:12px;"><br />
	Born at the remote highland village of Lo Gaun in Gorkha district, Lama landed in Kathmandu in early 1960s when he was just about 10 years old. He is sorry that he could not get higher education due to the trouble he had to go through being away from home. So, while he was enrolled for the bachelor's level in management, he started work to earn his living at the age of 22.</span></p>
<p class="MsoNormal" style="margin-bottom: 0.0001pt; text-align: justify; line-height: normal;">
	<span style="font-size:12px;"><span aldine401bt-romana="" color:="" serif=""><br />
	</span></span></p>
<p class="MsoNormal" style="margin-bottom: 0.0001pt; text-align: justify; line-height: normal;">
	<span style="font-size:12px;"><span aldine401bt-romana="" color:="" serif="">Lama had gathered some experience in woollen Nepali carpets business. So, he established his own carpet factory with about a dozen looms at Pulchowk. He also set up three carpet shops at the tourist hubs of Sundhara and Mahabouddha of Kathmandu and at the Golden Gate of Patan. Our primary customers were tourists,â€ he says. Lama claims that he was one of the pioneers in the private sector to begin with a carpet industry.<br />
	<br />
	</span></span></p>
<p class="MsoNormal" style="margin-bottom: 0.0001pt; text-align: justify; line-height: normal;">
	<span style="font-size:12px;"><span aldine401bt-romana="" color:="" serif="">I was, from the very beginning, passionate about colours and designs. I loved to play with them, he recollects the moment he began his career: One of my friends used to own a carpet shop. I used to see him having good time, going to movies and still making money. The tourists would visit his shop and buy the carpets as souvenirs paying handsome amount of money.He remembers yet another friend who was in the restaurant business and was having a tough time pleasing the customers. I compared them one watching movies, chatting and making money while another struggling to maintain his business. So, I ended up in the first business, Lama says. His same friend who owned the carpet shop was also in the car reconditioning business and he asked lama if he could buy the shop. He instantly accepted the offer and bought his friend's shop.<br />
	<br />
	</span></span></p>
<p class="MsoNormal" style="margin-bottom: 0.0001pt; text-align: justify; line-height: normal;">
	<span style="font-size:12px;"><span aldine401bt-romana="" color:="" serif="">His family back home had no idea as to what young Senon was doing. In the third year of the business, his father arrived Kathmandu unannounced.<br />
	<br />
	</span></span></p>
<p class="MsoNormal" style="margin-bottom: 0.0001pt; text-align: justify; line-height: normal;">
	<span style="font-size:12px;"><span aldine401bt-romana="" color:="" serif="">Seeing me travelling mostly by taxi, my father said I squander a lot of money At the same time, he was tremendously delighted as well as shocked to see that I was simultaneously operating three shops at three different locations of the city.<br />
	<br />
	</span></span></p>
<p class="MsoNormal" style="margin-bottom: 0.0001pt; text-align: justify; line-height: normal;">
	<span style="font-size:12px;"><span aldine401bt-romana="" color:="" serif="">When Lama started his business, the production in Nepal was very low as carpets were imported from India. The market in the beginning was nonchallenging. We never had to worry that the products would not be sold. The supply was small and the demand was much higher. Unlike today, his company used to decide on quality, design and size, and the buyers used to buy what was available. Gradually Nepal made carpets started to be viewed as fahion items. The foreigners were using them not as floorings but as pieces of art hung on the wall. International designers then started coming in with their own designs mostly the western ones.<br />
	<br />
	<br />
	In the beginning of 1980s, the export of carpet kicked off. And Lama's business took off the major flight in 1982 when a big warehouse bought all the carpets from all his three shops. Lama never had to look back since then. In 1983, I did not have the time to pay attention to my local shops, as I was focused on the export business. His company, named as Senon Enterprise, expanded in the following years. In 1988, the company was renamed as Senon Carpet Industries.<br />
	<br />
	</span></span></p>
<p class="MsoNormal" style="margin-bottom: 0.0001pt; text-align: justify; line-height: normal;">
	<span style="font-size:12px;"><span aldine401bt-romana="" color:="" serif="">Lama's success reached a new height during the 1990s when the number of employees working for him reached 1400. Comparing the situation then and now, Lama says, There used to be the mass production and mass export then. Today's business is mostly order-based.<br />
	<br />
	</span></span></p>
<p class="MsoNormal" style="margin-bottom: 0.0001pt; text-align: justify; line-height: normal;">
	<span style="font-size:12px;"><span aldine401bt-romana="" color:="" serif="">He reveals that his company is now working for the year 2012. We completed our production last year for 2011 and the catalogue for that was ready in September 2010. Catalogue for 2012 </span><span aldine401bt-romana="" serif="">will be ready in 2011 September. He further says the planning and research for the design for 2013 is going on. He himself goes through hundreds of designs and decides which of them would suit for which of the quality of the carpets he will produce. We have to go into serious research before making any commitment. <br />
	<br />
	</span></span></p>
<p class="MsoNormal" style="margin-bottom: 0.0001pt; text-align: justify; line-height: normal;">
	<span style="font-size:12px;"><span aldine401bt-romana="" serif="">The wage rate, the labour law, and the price of the raw material have to be speculated for the coming years before making such commitment, he says.<br />
	<br />
	</span></span></p>
<p class="MsoNormal" style="margin-bottom: 0.0001pt; text-align: justify; line-height: normal;">
	<span style="font-size:12px;"><span aldine401bt-romana="" serif="">Today, Lama exports his carpets to Germany, the Netherlands, UK, USA, Mexico, Japan, and Australia, to name a few. From these destinations, the same carpets are exported to other countries as well.<br />
	<br />
	</span></span></p>
<p class="MsoNormal" style="margin-bottom: 0.0001pt; text-align: justify; line-height: normal;">
	<span style="font-size:12px;"><span aldine401bt-romana="" serif="">Apart from the carpet industry, Lama is also the proud owner of Hotel Shahanshah, System Holder, a sports club and some real estate businesses. Besides, he is into social work too. No matter how many ventures I do have, carpet business is the most precious one and close to my life. I am never going to detach it from my life though I may have to return back to a dozen looms again, he says. This is my religion. This business cannot be evaluated on mere profit and loss.<br />
	<br />
	</span></span></p>
<p class="MsoNormal" style="margin-bottom: 0.0001pt; text-align: justify; line-height: normal;">
	<span style="font-size:12px;"><span aldine401bt-romana="" serif="">For Lama, failure is not the reason to regret. He says he never regrets his past. He feels blessed to be able to see the whole world, though born in one of the remotest corners of the world. The excitement he had when he first bought the motorbike is the moment he never forgets. When I first bought my motorbike, I was so excited and felt the sense of&nbsp;&nbsp; achievement. I don't feel the same when I buy a new car now.Lama says work is his passion and hobby. He enjoys his work as much as the sports like football and hockey. There are professionals to look after his other businesses, but in the carpet business he insists to go through every minutest detail on his own. He has never fired any worker till date. He credits his success to his workers. He pays his staff at the production line on the weekly basis while those in other lines are paid on monthly basis. Altogether 700 persons work for him now though this number was about 1400 in the 1990s.<br />
	<br />
	</span></span></p>
<p class="MsoNormal" style="margin-bottom: 0.0001pt; text-align: justify; line-height: normal;">
	<span style="font-size:12px;"><span aldine401bt-romana="" serif="">Lama has worked for 36 years and says, every day, I have spent 12 to 16 hours in my work. He is already 60 but has not thought of retiring. I'm not tired, so no question of being retired, he quips. Retirement kills you psychologically, makes body slow and reduces the stamina.â€ He thinks he can work for the next 15 years.<br />
	<br />
	</span></span></p>
<p class="MsoNormal" style="margin-bottom: 0.0001pt; text-align: justify; line-height: normal;">
	<span style="font-size:12px;"><span aldine401bt-romana="" serif="">Lama says human body is a temple. We have to worship it. We should not put junks into it, he says revealing the secret of being healthy. Another secret is his regimen of physical exercises. In olde days, he used to spend at least one and half hour a day in sports. He used to wake up at 4 in the morning and rush to the tennis court at The Everest Hotel. Currently, he is spending at least 30 to 40 minutes a day exercising. In his free time, he loves listening to music of all genre from Nepali to English pops to fast beats. He says he is not able to give a lot of time to his family. He sometimes works on Saturdays too. I want to see them laughing. I have to listen to everybody to make them happy. Sometimes, there is a conflict of interest. But I try to address everyone's wishes, he says.<br />
	<br />
	</span></span></p>
<p class="MsoNormal" style="margin-bottom: 0.0001pt; text-align: justify; line-height: normal;">
	<span style="font-size:12px;"><span aldine401bt-romana="" serif="">Lama has plans to expand his business in the promising tourism sector. Now I have almost 12 years of experience in the hotel industry. I am quite confident about expanding it. Most probably he will set up a spa.&nbsp; </span></span></p>
<p class="MsoNormal" style="margin-bottom: 0.0001pt; text-align: justify; line-height: normal;">
	<span style="font-size:12px;"><span aldine401bt-romana="" serif="">&nbsp;</span></span></p>
<p class="MsoNormal" style="margin-bottom: 0.0001pt; text-align: justify; line-height: normal;">
	<span style="font-size:12px;"><strong><span style="color: rgb(178, 34, 34);"><span color:="" franklingothic-heavy="" sans-serif="">PERSONAL SIDE</span></span></strong></span></p>
<ul>
	<li>
		<span style="font-size:12px;"><span franklingothic-medium="" sans-serif="">Loves music. Narayan Gopal is his favourite Nepali artist. He also listens to Celine Dion, Mariah Carey, Eric Clapton, Bryan Adams and Michael Jackson among others</span><br />
		</span></li>
	<li>
		<span style="font-size:12px;"><span franklingothic-medium="" sans-serif="">Likes collecting magazines from around the world </span><br />
		</span></li>
	<li>
		<span style="font-size:12px;"><span franklingothic-medium="" sans-serif="">Tennis, squash, bowling are his favourite sports </span><br />
		</span></li>
	<li>
		<span style="font-size:12px;"><span franklingothic-medium="" sans-serif="">Does not have passion for books but dreams to read them in future </span><br />
		</span></li>
	<li>
		<span style="font-size:12px;"><span franklingothic-medium="" sans-serif="">Not brand conscious, very casual</span><br />
		</span></li>
	<li>
		<span style="font-size:12px;"><span franklingothic-medium="" sans-serif="">Likes cars and currently drives Toyota Prado</span><br />
		</span></li>
	<li>
		<span style="font-size:12px;"><span franklingothic-medium="" sans-serif="">Has driven fi ve different bikes until now </span><br />
		</span></li>
	<li>
		<span style="font-size:12px;"><span franklingothic-medium="" sans-serif="">Also involved in social activities <br />
		</span><br />
		</span></li>
</ul>',
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			'description' => 'When Senon started his business, the production in Nepal was very low as carpets were imported from India. The market in the beginning was non-challenging. We never had to worry that the products would not be sold. The supply was small and the demand was much higher. Unlike today, his company used to decide on quality,',
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		'Article' => array(
			'id' => '202',
			'article_category_id' => '48',
			'title' => 'Where Is CEO Charisma ?',
			'sub_title' => '',
			'summary' => null,
			'content' => '<p class="MsoNormal" style="text-align: justify;">
	<span style="font-size:12px;"><i><span bright="" lucida="" serif="" style="line-height: 115%;"><a href="http://www.newbusinessage.com/ckfinder/userfiles/Images/small.jpg" target="_blank"><img align="left" alt="nolaughingmatter" border="1" height="143" hspace="5" src="http://www.newbusinessage.com/ckfinder/userfiles/Images/small.jpg" style="width: 105px; height: 143px;margin:10px;padding:10px;" vspace="5" width="105" /></a></span></i></span></p>
<p class="MsoNormal" style="margin-bottom: 0.0001pt; text-align: justify; line-height: normal;">
	<span style="font-size: 12px;"><i><span bright="" lucida="" serif="" style="line-height: 115%;">&nbsp;</span></i><span color:="" franklingothic-heavy="" sans-serif="">T</span><span aldine401bt-romana="" color:="" serif="">he very recent hot topic for news in our media has been the pay of CEOs in bank and financial institutions. No sooner the central bank issued a notice called directive, the wowed aspects of their pay spilled to the public gaze. CEOs started to cry a foul by the central bank in the D area of their respective bank boards. NRB people tried to defend their move claiming nothing less than ˜this directive will not have any effect to the pay CEOs are now enjoying. But this neither stopped the media hype nor did the crying pitch of CEOs reduce. <br />
	</span></span></p>
<p class="MsoNormal" style="margin-bottom: 0.0001pt; text-align: justify; line-height: normal;">
	<span style="font-size:12px;"><span aldine401bt-romana="" color:="" serif=""><br />
	</span></span></p>
<p class="MsoNormal" style="margin-bottom: 0.0001pt; text-align: justify; line-height: normal;">
	<span style="font-size: 12px;"><span aldine401bt-romana="" color:="" serif="">You may wonder what is so big deal about it? Why is everyone from the governor of Nepal Rastra Bank and the government secretaries to the media after the CEO's salary? Are CEOs really overpaid? For that matter, are the rank-and-file workers underpaid? <br />
	</span></span></p>
<p class="MsoNormal" style="margin-bottom: 0.0001pt; text-align: justify; line-height: normal;">
	<span style="font-size:12px;"><span aldine401bt-romana="" color:="" serif=""><br />
	</span></span></p>
<p class="MsoNormal" style="margin-bottom: 0.0001pt; text-align: justify; line-height: normal;">
	<span style="font-size: 12px;"><span aldine401bt-romana="" color:="" serif="">Only in a cursory look, one may find that it is not the question of CEOs getting less or more but the fact of the matter is : these CEOs are simply uncharismatic and don't know how to buy great things with small pay. Lack of this quality in them raises larger question of would these people at the helm help the institution earn more by spending less. <br />
	</span></span></p>
<p class="MsoNormal" style="margin-bottom: 0.0001pt; text-align: justify; line-height: normal;">
	<span style="font-size:12px;"><span aldine401bt-romana="" color:="" serif=""><br />
	</span></span></p>
<p class="MsoNormal" style="margin-bottom: 0.0001pt; text-align: justify; line-height: normal;">
	<span style="font-size: 12px;"><span aldine401bt-romana="" color:="" serif=""><a href="http://www.newbusinessage.com/ckfinder/userfiles/Images/no laughin.jpg" target="_self"><img align="left" alt="nolaughingmatter" border="1" height="198" hspace="5" src="http://www.newbusinessage.com/ckfinder/userfiles/Images/no laughin.jpg" style="width: 217px; height: 198px;margin:10px;padding:10px;" vspace="5" width="217" /></a>Take an example of a government section officer or an undersecretary; he might hardly draw more than Rs. fifteen thousand a month. But in five years, he will have at least a new house in Kathmandu, a four wheeler and a wife who wears ornaments of a few hundred thousand, if not millions, rupees.</span></span></p>
<p class="MsoNormal" style="margin-bottom: 0.0001pt; text-align: justify; line-height: normal;">
	<span style="font-size:12px;"><span aldine401bt-romana="" color:="" serif=""><br />
	</span></span></p>
<p class="MsoNormal" style="margin-bottom: 0.0001pt; text-align: justify; line-height: normal;">
	<span style="font-size: 12px;"><span aldine401bt-romana="" color:="" serif="">And, the most important thing is, he never complaints about the salary, and the government unlike the Rastra Bank does not send out a memo to reduce his pay. Why can't these folks called CEOs have that sort of creative acumen to manage things like that on their own? They surely lack ability to manage and choose to beg at least not to cut what they get. <br />
	</span></span></p>
<p class="MsoNormal" style="margin-bottom: 0.0001pt; text-align: justify; line-height: normal;">
	<span style="font-size:12px;"><span aldine401bt-romana="" color:="" serif=""><br />
	</span></span></p>
<p class="MsoNormal" style="margin-bottom: 0.0001pt; text-align: justify; line-height: normal;">
	<span style="font-size: 12px;"><span aldine401bt-romana="" color:="" serif="">By now it is evident that our CEOs are unable to pull and pool the recourses. Even worse, they don't learn from the big people. Look at how our supply minister manages his supply of petrol free of cost from the Oil Corporation. And how unremorsefully the chief of the Corporation, who is also the CEO of another breed, helps meet the end of his patron is more of a lesson. Having seen so many deficiencies in them, it is hard to believe that most CEOs in Nepal's BF's are intelligent, have advanced degrees often from one of the top universities in the world and work some sixty or more hours a week. <br />
	</span></span></p>
<p class="MsoNormal" style="margin-bottom: 0.0001pt; text-align: justify; line-height: normal;">
	<span style="font-size:12px;"><span aldine401bt-romana="" color:="" serif=""><br />
	</span></span></p>
<p class="MsoNormal" style="margin-bottom: 0.0001pt; text-align: justify; line-height: normal;">
	<span style="font-size: 12px;"><span aldine401bt-romana="" color:="" serif="">Therefore, to convince at least to their hawkish supervisor called Ratra Bank that they are deserving enough to draw a handsome salary and perks, these CEOs must mend their ways that suits the indigenous soil. They must stop demanding this and that facility or mercy from the Rastra Bank. Instead, they can learn from the supervisors there. Drawing salary purse from the office, many NRB supervisors spend their day dealing with personal business of bonds or share trade or reaches to the political mentor of the choice. Effectively, s/he would earn in a day what a CEO earns in a month. Isnt it something to be inspired about ? <br />
	</span></span></p>
<p class="MsoNormal" style="margin-bottom: 0.0001pt; text-align: justify; line-height: normal;">
	<span style="font-size: 12px;"><span aldine401bt-romana="" color:="" serif=""><br />
	</span></span></p>
<p class="MsoNormal" style="margin-bottom: 0.0001pt; text-align: justify; line-height: normal;">
	 </p>
<p class="MsoNormal" style="margin-bottom: 0.0001pt; text-align: justify; line-height: normal;">
	<span style="font-size:12px;"><span aldine401bt-romana="" color:="" serif=""><br />
	</span></span></p>',
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			'created' => '2011-01-16',
			'modified' => '2012-09-16',
			'keywords' => '',
			'description' => 'The very recent hot topic for news in our media has been the pay of CEOs in bank and financial institutions. No sooner the central bank issued a notice called directive, the wowed aspects of their pay spilled to the public gaze. CEOs started to cry a foul by the central bank in the D area',
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			'title' => 'Gopal Sunder Lal Kakshapati',
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	<strong><span style="font-size: 12px;"><span style="color: rgb(0, 0, 0);"><span style="background-color: rgb(240, 255, 240);">'I See Prospects in Herbs, Tourism and of course, Carpet'</span></span></span></strong></p>
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	<strong><span style="font-size: 12px;"><span style="color: rgb(0, 0, 0);"><br />
	<img alt="" border="1" height="270" hspace="5" src="http://newbusinessage.com/ckfinder/userfiles/Images/572699_512919295_905742336_n.jpg" vspace="5" width="180" /><br />
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	<span style="font-size: 12px;"><span style="color: rgb(0, 0, 0);"><em>Gopal Sunder Lal Kakshapati is the newly elected President of Nepal-German Chamber of Commerce and Industry (NGCCI). Kakshapati, in an interview with Nubiz, says his basic priority would be to revive and maintain the old trade surplus figure that Nepal had been enjoying in the past with Germany, now a key member of the European Union. With the nose-diving of carpet and garment exports, Nepal has nothing much to offer to German market. Still, Kakshapati is hopeful that the branding of some of Nepal's food products such as tea and coffee and attracting more German tourists to Nepal can still help get the old trade figures back. Excerpts:</em></span></span></p>
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	<span style="font-size: 12px;"><span style="color: rgb(0, 0, 0);"><em><br />
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	<strong><span style="font-size: 12px;"><span style="color: rgb(0, 0, 0);">What is your new vision as the new president of Nepal-German Chamber of Commerce and Industry?</span></span></strong></p>
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	<strong><span style="font-size: 12px;"><span style="color: rgb(0, 0, 0);"><br />
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	<span style="font-size: 12px;"><span style="color: rgb(0, 0, 0);">I have segregated it into two parts. The chamber is 18 years old. Some of its legacies I have to carry on. I cannot opt out of the regular programmes the Chamber has been doing. For example, the Chamber has been promoting Nepal's tourism in Germany since 1994. It is called CMT Caravan Motor Touristic. It is a very popular fair in Germany. More than one million people visit the fair each year. So, it must continue. Besides, there are some other regular programmes which I will continue. That is the first part of my aim. As for the new vision, I want to expand whatever economic ties exist between Nepal and Germany. If you look at the overall figures for the past one year or two, our overall trade balance has not been in our favour. But Germany is one country with which we have trade surplus. But the margin of that surplus is now decreasing. I want to bring it back at least to the old figures. That is my main aim.</span></span></p>
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	<span style="font-size: 12px;"><span style="color: rgb(0, 0, 0);">Germans are looking for new products from Nepal. For example, Nepali tea and coffee have entered into the German market but lack effective branding. I would like to brand it as Nepali tea or Nepali coffee. I see a scope there. Likewise, we are always talking about Nepali herbal and similar products. Herbal is one product which a lot of developed countries are eyeing on. Nepal is so rich in herbal resources. If we produce and market it, Germany would be one of the very popular destinations for these products.</span></span></p>
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	<span style="font-size:12px;"><span style="color: rgb(0, 0, 0);"><br />
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	<span style="font-size: 12px;"><span style="color: rgb(0, 0, 0);">Similarly, besides exporting to Germany, I want to work on capacity building in the country to export different products from Nepal. The Chamber has the past history of such works. For example, it organised a tea seminar in Ilam some years ago. We invited experts from Germany one as the market expert and another as the product expert. These experts directly interacted with the tea producers regarding the choice of taste of Germans and market situation there. That proved very effective. I want to do the same for other products also, for example, herbal, as I have mentioned. <br />
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	<span style="font-size: 12px;"><span style="color: rgb(0, 0, 0);">Nepal's herbal products are yet to be processed and branded well. In the case of coffee too, we have to enhance our quality. Today, it is soothing to see professionals involved in coffee production. The bottom-line again is that we have to increase the quantity and improve the quality. When we work with a developed country, quality is always the first priority to have an access into their market.</span></span></p>
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<p class="MsoNormal" style="margin-bottom: 0.0001pt; text-align: justify; line-height: normal;">
	<span style="font-size: 12px;"><span style="color: rgb(0, 0, 0);">During my travel to Germany I found that Nepali business community has not been able to explore the existing opportunities in terms of machinery, information, etc. There are only a handful who have done so. I think Nepali businessmen should also go to the expos in the places in Germany so as to learn things and gain expertise. Therefore, I am also in favour of promoting exchange visits of business people between the two countries.</span></span></p>
<p class="MsoNormal" style="margin-bottom: 0.0001pt; text-align: justify; line-height: normal;">
	<span style="font-size:12px;"><span style="color: rgb(0, 0, 0);"><br />
	</span></span></p>
<p class="MsoNormal" style="margin-bottom: 0.0001pt; text-align: justify; line-height: normal;">
	<strong><span style="font-size: 12px;"><span style="color: rgb(0, 0, 0);">How do you think the Nepal Germany trade relation can be made favourable to Nepal? <br />
	</span></span></strong></p>
<p class="MsoNormal" style="margin-bottom: 0.0001pt; text-align: justify; line-height: normal;">
	<strong><span style="font-size:12px;"><span style="color: rgb(0, 0, 0);"><br />
	</span></span></strong></p>
<p class="MsoNormal" style="margin-bottom: 0.0001pt; text-align: justify; line-height: normal;">
	<span style="font-size: 12px;"><span style="color: rgb(0, 0, 0);">As I said earlier, Germany is one country where Nepal has trade surplus. But we should not be content with whatever trade figure we have. The Chamber in the past has worked with DIHL which is the authority in Germany to expand trade relation between any countries. When I visited their office in Germany, I found that they have given very tiny space to Nepal. They showed me the huge trade volume they had with China. Through the exchange of visits and co-work among various chambers in Germany, I think we may be able to increase the trade prospects of Nepal. <br />
	</span></span></p>
<p class="MsoNormal" style="margin-bottom: 0.0001pt; text-align: justify; line-height: normal;">
	<span style="font-size:12px;"><span style="color: rgb(0, 0, 0);"><br />
	</span></span></p>
<p class="MsoNormal" style="margin-bottom: 0.0001pt; text-align: justify; line-height: normal;">
	<strong><span style="font-size: 12px;"><span style="color: rgb(0, 0, 0);">Even the European countries are removing Nepal from the list of â€œpreferential trading partner very shortly. How can your Chamber contribute to retaining Nepal's status as a beneficiary of developing country concession of EU?</span></span></strong></p>
<p class="MsoNormal" style="margin-bottom: 0.0001pt; text-align: justify; line-height: normal;">
	<strong><span style="font-size:12px;"><span style="color: rgb(0, 0, 0);"><br />
	</span></span></strong></p>
<p class="MsoNormal" style="margin-bottom: 0.0001pt; text-align: justify; line-height: normal;">
	<span style="font-size: 12px;"><span style="color: rgb(0, 0, 0);">Yes, I also heard that. It is an agenda for me to talk with the EU representatives in Nepal first and find out what was the reason behind it. There could be so many reasons, and I will work on how to address the situation. First and the foremost, I must know the reasons. After that, we the Chamber and other organisations like the carpet association, etc can lobby together. I will also work closely with German development institutions like GTZ. We, as individual organisations and with others jointly, will lobby to retain our position in the EU.</span></span></p>
<p class="MsoNormal" style="margin-bottom: 0.0001pt; text-align: justify; line-height: normal;">
	<span style="font-size:12px;"><span style="color: rgb(0, 0, 0);"><br />
	</span></span></p>
<p class="MsoNormal" style="margin-bottom: 0.0001pt; text-align: justify; line-height: normal;">
	<strong><span style="font-size: 12px;"><span style="color: rgb(0, 0, 0);">Nepal-German Chamber of Commerce and Industry is one the oldest bilateral chambers in Nepal. How do you view its achievements?</span></span></strong></p>
<p class="MsoNormal" style="margin-bottom: 0.0001pt; text-align: justify; line-height: normal;">
	<strong><span style="font-size:12px;"><span style="color: rgb(0, 0, 0);"><br />
	</span></span></strong></p>
<p class="MsoNormal" style="margin-bottom: 0.0001pt; text-align: justify; line-height: normal;">
	<span style="font-size: 12px;"><span style="color: rgb(0, 0, 0);">I think it was the first bi-national chamber in Nepal. The establishment of the Chamber introduced the concept of bi-national chambers in our country. Some 18 years ago, nobody thought of a bi-national chamber could be so important. One of the major achievements of the Chamber is that we have been able to join hands with various German trade bodies and even development agencies like GTZ. The Chamber has enhanced and promoted ties between Nepal and Germany. An example is tourism. The Chamber has been instrumental in the arrival of German tourists in Nepal as well for expanding market of Nepali products such as carpet and garment in Germany. From time and again, we have been taking business delegations to Germany. Such steps are helpful in strengthening trade links.</span></span></p>
<p class="MsoNormal" style="margin-bottom: 0.0001pt; text-align: justify; line-height: normal;">
	<span style="font-size:12px;"><span style="color: rgb(0, 0, 0);"><br />
	</span></span></p>
<p class="MsoNormal" style="margin-bottom: 0.0001pt; text-align: justify; line-height: normal;">
	<strong><span style="font-size: 12px;"><span style="color: rgb(0, 0, 0);">Most of the economic activities in EU seem to be consolidated under EU umbrella. Do you think the bilateral trade relations of a country like Nepal with individual member countries of EU hold long term importance?</span></span></strong></p>
<p class="MsoNormal" style="margin-bottom: 0.0001pt; text-align: justify; line-height: normal;">
	<strong><span style="font-size:12px;"><span style="color: rgb(0, 0, 0);"><br />
	</span></span></strong></p>
<p class="MsoNormal" style="margin-bottom: 0.0001pt; text-align: justify; line-height: normal;">
	<span style="font-size: 12px;"><span style="color: rgb(0, 0, 0);">Though EU has certain umbrella policies, bilateral trade&nbsp;&nbsp; relations too hold importance. There are layer of two policies in EU: one is at macro level, i.e., the umbrella policy, and another at the micro-level, i.e., the individual country's policies. Both policies work together. I don't think the situation will change so drastically in a very short period of time. Our chamber has a direct link to the German trade bodies. Of course, there is a big umbrella called EU but within that big umbrella, there are small umbrellas too. <br />
	</span></span></p>
<p class="MsoNormal" style="margin-bottom: 0.0001pt; text-align: justify; line-height: normal;">
	<span style="font-size:12px;"><span style="color: rgb(0, 0, 0);"><br />
	</span></span></p>
<p class="MsoNormal" style="margin-bottom: 0.0001pt; text-align: justify; line-height: normal;">
	<strong><span style="font-size: 12px;"><span style="color: rgb(0, 0, 0);">What do you think are the areas Nepal can benefit in the trade with Germany?</span></span></strong></p>
<p class="MsoNormal" style="margin-bottom: 0.0001pt; text-align: justify; line-height: normal;">
	<strong><span style="font-size:12px;"><span style="color: rgb(0, 0, 0);"><br />
	</span></span></strong></p>
<p class="MsoNormal" style="margin-bottom: 0.0001pt; text-align: justify; line-height: normal;">
	<span style="font-size: 12px;"><span style="color: rgb(0, 0, 0);">If we talk about trade from Germany to Nepal, there are so many factors. We have members who have the business of &nbsp;German medical equipments in Nepal. And there is possibility of cooperation in hydroelectricity development. There are so many other sectors like Information Technology, in which Nepal can attract investments. Germany being a highly developed country, Nepal can learn many things from it.</span></span></p>
<p class="MsoNormal" style="margin-bottom: 0.0001pt; text-align: justify; line-height: normal;">
	<span style="font-size:12px;"><span style="color: rgb(0, 0, 0);"><br />
	</span></span></p>
<p class="MsoNormal" style="margin-bottom: 0.0001pt; text-align: justify; line-height: normal;">
	<strong><span style="font-size: 12px;"><span style="color: rgb(0, 0, 0);">Despite our almost half a century long trade relation, where do you think Nepal lacked taking advantage from the German market?</span></span></strong></p>
<p class="MsoNormal" style="margin-bottom: 0.0001pt; text-align: justify; line-height: normal;">
	<strong><span style="font-size:12px;"><span style="color: rgb(0, 0, 0);"><br />
	</span></span></strong></p>
<p class="MsoNormal" style="margin-bottom: 0.0001pt; text-align: justify; line-height: normal;">
	<span style="font-size: 12px;"><span style="color: rgb(0, 0, 0);">I think, what Nepal lacks is its own confidence. The political and social situations, among other factors, are responsible for that. We have not been able to use the potentials that the German cooperation offers to us. A number of joint venture companies have shut down because of our own reasons, such as the lack of security. We have a recent example. One executive member who had been manufacturing garments shifted his office elsewhere from the previous location owing to violence and security lapses. So, there indeed was opportunity which we could not simply tap.</span></span></p>
<p class="MsoNormal" style="margin-bottom: 0.0001pt; text-align: justify; line-height: normal;">
	<span style="font-size:12px;"><span style="color: rgb(0, 0, 0);"><br />
	</span></span></p>
<p class="MsoNormal" style="margin-bottom: 0.0001pt; text-align: justify; line-height: normal;">
	<strong><span style="font-size: 12px;"><span style="color: rgb(0, 0, 0);">What are the major export items of Nepal to Germany? <br />
	</span></span></strong></p>
<p class="MsoNormal" style="margin-bottom: 0.0001pt; text-align: justify; line-height: normal;">
	<strong><span style="font-size:12px;"><span style="color: rgb(0, 0, 0);"><br />
	</span></span></strong></p>
<p class="MsoNormal" style="margin-bottom: 0.0001pt; text-align: justify; line-height: normal;">
	<span style="font-size: 12px;"><span style="color: rgb(0, 0, 0);">If you look at the old data, 80 per cent of the trade is occupied by carpet and garment. Gradually, food market such as tea and coffee is also coming in. Nepal has very limited products to export. We have to increase their quality. We don't have much choice.</span></span></p>
<p class="MsoNormal" style="margin-bottom: 0.0001pt; text-align: justify; line-height: normal;">
	<span style="font-size:12px;"><span style="color: rgb(0, 0, 0);"><br />
	</span></span></p>
<p class="MsoNormal" style="margin-bottom: 0.0001pt; text-align: justify; line-height: normal;">
	<strong><span style="font-size: 12px;"><span style="color: rgb(0, 0, 0);">What are the challenges in Nepal-German trade?</span></span></strong></p>
<p class="MsoNormal" style="margin-bottom: 0.0001pt; text-align: justify; line-height: normal;">
	<strong><span style="font-size: 12px;"><span style="color: rgb(0, 0, 0);"><br />
	</span></span></strong></p>
<p class="MsoNormal" style="margin-bottom: 0.0001pt; text-align: justify; line-height: normal;">
	<span style="font-size: 12px;"><span style="color: rgb(0, 0, 0);">The most pertinent challenges are seen in the tourism sector. If we compare the data of German tourists arrival in Nepal, it was 45 to 55 thousand in 1998. Now it has decreased to 20 to 25 thousand only. It is the biggest challenge why have we not been able to attract German tourists as in the 1990s or the 80s? Second challenge is on retaining the market for our carpet. Its export has now nosedived compared to the previous years.</span></span></p>
<p class="MsoNormal" style="margin-bottom: 0.0001pt; text-align: justify; line-height: normal;">
	<span style="font-size:12px;"><span style="color: rgb(0, 0, 0);"><br />
	</span></span></p>
<p class="MsoNormal" style="margin-bottom: 0.0001pt; text-align: justify; line-height: normal;">
	<strong><span style="font-size: 12px;"><span style="color: rgb(0, 0, 0);">Do you have German collaboration in your business too?</span></span></strong></p>
<p class="MsoNormal" style="margin-bottom: 0.0001pt; text-align: justify; line-height: normal;">
	<strong><span style="font-size:12px;"><span style="color: rgb(0, 0, 0);"><br />
	</span></span></strong></p>
<p class="MsoNormal" style="margin-bottom: 0.0001pt; text-align: justify; line-height: normal;">
	<span style="font-size: 12px;"><span style="color: rgb(0, 0, 0);">My primary business is restaurant and I have investments in a bank, among other sectors. At present, I am working with German companies on new products. So basically I'm a restaurateur. I joined the Chamber in the 1990s, as I was asked to. Earlier, I had a travel agency, so my keen interest is in tourism. So I hope to promote tourism along with other sectors being in the Chamber. <br />
	</span></span></p>
<p class="MsoNormal" style="margin-bottom: 0.0001pt; text-align: justify; line-height: normal;">
	<span style="font-size:12px;"><span style="color: rgb(0, 0, 0);"><br />
	</span></span></p>
<p class="MsoNormal" style="margin-bottom: 0.0001pt; text-align: justify; line-height: normal;">
	<strong><span style="font-size: 12px;"><span style="color: rgb(0, 0, 0);">How do you foresee the Nepal-German economic ties in the longer run?</span></span></strong></p>
<p class="MsoNormal" style="margin-bottom: 0.0001pt; text-align: justify; line-height: normal;">
	<strong><span style="font-size:12px;"><span style="color: rgb(0, 0, 0);"><br />
	</span></span></strong></p>
<p class="MsoNormal" style="margin-bottom: 0.0001pt; text-align: justify; line-height: normal;">
	<span style="font-size:12px;"><span style="color: rgb(0, 0, 0);">The relation between two countries is of course fundamentally economic and I think this kind of bi-national chamber always helps to promote trade. As of now, we have 22 or 23 bi-national chambers. Nepali business community should have this kind of platform that helps make an easier access into business-related information and facilitation in the counterpart country.</span></span></p>
<p>
	<span style="font-size: 12px;"><span style="color: rgb(0, 0, 0);">&nbsp;</span></span></p>
<p>
	<span style="font-size:12px;"><span style="color: rgb(0, 0, 0);"><br />
	</span></span></p>
<p class="MsoNormal" style="margin-bottom: 0.0001pt; text-align: justify; line-height: normal;">
	<strong><span style="font-size: 12px;"><span style="color: rgb(0, 0, 0);">Facts and Figures:</span></span></strong></p>
<p class="MsoNormal" style="margin-bottom: 0.0001pt; text-align: justify; line-height: normal;">
	<strong><span style="font-size:12px;"><span style="color: rgb(0, 0, 0);"><br />
	</span></span></strong></p>
<ul>
	<li>
		<span style="font-size:12px;"><span style="color: rgb(0, 0, 0);"><span color:="">Germany is one of the biggest export markets for Nepal and ranked 4th after India, USA and Bangladesh. During the FY 2009/10, the Nepali export to Germany could maintain favourable trade position but the export volume decreased by Rs 2,391 million, 14.1 per cent less compared to the previous year. <br />
		</span></span></span></li>
	<li>
		<span style="font-size:12px;"><span style="color: rgb(0, 0, 0);"><span color:="">Nepal's overall exports declined in FY 2009/10 by 11.1 per cent to Rs 60.9 billion whereas imports continued to increase by 29.1 per cent to Rs 375.6 billion. This development has further widened the overall trade deficit which was about Rs 314.7 billion (+41.5%) in FY 2009/10.<br />
		</span></span></span></li>
	<li>
		<span style="font-size:12px;"><span style="color: rgb(0, 0, 0);"><span color:="">Due to the decline of exports, the overall Nepal-German foreign trade has also slightly declined in the FY 2009/10. The total bilateral trade fell from Rs 5,029 million to Rs 4,713 million a decline of 6.3 per cent compared to the previous year. Imports from Germany rose by 3.5 per cent compared to FY 2008/09 to Rs 2,322 million.<br />
		</span></span></span></li>
	<li>
		<span style="font-size:12px;"><span style="color: rgb(0, 0, 0);"><span color:="">Germany is one of the few countries with a positive trade balance for Nepal (after Bangladesh, Bhutan and Canada) although the trade balance came down from a comfortable surplus of Rs 541 million in FY 2008/09 to Rs 69 million in FY 2009/10.<br />
		</span></span></span></li>
	<li>
		<span style="font-size: 12px;"><span style="color: rgb(0, 0, 0);"><span color:="">Exports to Germany In FY 2009/10, the decline of exports to Germany was caused by a decline in Textiles, clothing and accessories (9.6%), Food (19.0%) and Others <br />
		</span></span></span></li>
</ul>
<p class="MsoNormal" style="margin-bottom: 0.0001pt; text-align: justify; line-height: normal;">
	<span style="font-size:12px;"><span style="color: rgb(0, 0, 0);"><span color:=""><br />
	</span></span></span></p>
<p>
	<strong><span style="font-size:12px;"><span style="color: rgb(0, 0, 0);"><br />
	</span></span></strong></p>
<p class="MsoNormal" style="margin-bottom: 0.0001pt; text-align: justify; line-height: normal;">
	<strong><span style="font-size: 12px;"><span style="color: rgb(0, 0, 0);">Nepal-German Foreign Trade</span></span></strong></p>
<p class="MsoNormal" style="margin-bottom: 0.0001pt; text-align: justify; line-height: normal;">
	<strong><span style="font-size: 12px;"><span style="color: rgb(0, 0, 0);"><br />
	</span></span></strong></p>
<p class="MsoNormal" style="margin-bottom: 0.0001pt; text-align: justify; line-height: normal;">
	<span style="font-size: 12px;"><span style="color: rgb(0, 0, 0);">(52.6%). The export of carpets almost 60 per cent of the total exports to Germany further dropped down from Rs 1.53 billion to Rs 1.42 billion. It was a decline of 6.8 per cent. Germany is one of the biggest export markets for Nepalese carpet industry. It ranked second after the USA. The exports of woolen shawls decreased by 39.7 per cent (Rs 242.1 million) while exports of clothing slightly increased by 3.5 per cent (Rs 270.8 million) in comparison to the previous year. The decline in food exports to Germany were caused by decreasing exports of lentils, coffee and spices while the exports of tea (13.3%) and medical plants further increased. Germany, with an export volume of Rs 33.2 million, is the second biggest export market for Nepalese tea mainly the orthodox tea after India. The exports of paintings came down by 69.4 per cent to Rs 75.4 million. <br />
	</span></span></p>
<p class="MsoNormal" style="margin-bottom: 0.0001pt; text-align: justify; line-height: normal;">
	<span style="font-size:12px;"><span style="color: rgb(0, 0, 0);"><br />
	</span></span></p>
<p class="MsoNormal" style="margin-bottom: 0.0001pt; text-align: justify; line-height: normal;">
	<span style="font-size: 12px;"><span style="color: rgb(0, 0, 0);">Imports from Germany In FY 2009/10, the total imports from Germany experienced a slight increase of 3.5 per cent compared to the previous figure of Rs 2.3 billon. The development of the various product categories, however, was quite different. The imports of Machineries and electrical equipments, the major import goods from Germany that stand for more than 50 per cent of the total imports, increased by 7.5 per cent to Rs 1.2 billion. A closer look to this category reveals that Germany is an important supplier for mechanical machineries especially for the packing, printing, food, tobacco and textile sector. The imports of mechanical machineries increased by 2.6 per cent to Rs 932.1 million. And the imports of electrical machineries and equipments increased by 29.7 per cent compared to the FY 2008/09. <br />
	</span></span></p>
<p class="MsoNormal" style="margin-bottom: 0.0001pt; text-align: justify; line-height: normal;">
	<span style="font-size:12px;"><span style="color: rgb(0, 0, 0);"><br />
	</span></span></p>
<p class="MsoNormal" style="margin-bottom: 0.0001pt; text-align: justify; line-height: normal;">
	<span style="font-size: 12px;"><span style="color: rgb(0, 0, 0);">The imports of vehicles went up from Rs 6.5 million to Rs 80.4 million. The imports of medical devices and laboratory equipments increased by 13.8 per cent to Rs 275.7 million. And the imports of chemical and pharmaceutical substances and plastic rose by 11.4 per cent to Rs 265.7 million.</span></span></p>
<p class="MsoNormal" style="margin-bottom: 0.0001pt; text-align: justify; line-height: normal;">
	<span style="font-size: 12px;"><span style="color: rgb(0, 0, 0);"><br />
	</span></span></p>
<p class="MsoNormal" style="margin-bottom: 0.0001pt; text-align: justify; line-height: normal;">
	<strong><span style="font-size: 12px;"><span style="color: rgb(0, 0, 0);"><i>(Source: Nepal-German Chamber of Commerce and Industry.)</i></span></span></strong></p>
<p class="MsoNormal" style="margin-bottom: 0.0001pt; text-align: justify; line-height: normal;">
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