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			'magazine_issue_id' => '957',
			'magazine_category_id' => '49',
			'title' => 'The Developing Development Dilemma',
			'image' => '20160112123007_nlm.jpg',
			'short_content' => 'Some might think that nothing has happened in Nepal or that Nepalis have seen no progress. But, the reality is not like that. Nepalis have been continuously treading the path of progress. Like in the song Yo Nepali Sheer Uchali Sansarma Lamkanchha...',
			'content' => '<p><strong>--By Madan Lamsal</strong></p>

<p>Some might think that nothing has happened in Nepal or that Nepalis have seen no progress. But, the reality is not like that. Nepalis have been continuously treading the path of progress. Like in the song Yo Nepali Sheer Uchali Sansarma Lamkanchha (This Nepali will walk through the world holding the head high), some Nepalis have turned on the lights of development and are shining in the world.&nbsp;</p>

<p>If the country hasn&rsquo;t achieved the kind of progress it wants, don&#39;t forget that the political leaders have made a lot of progress. That&rsquo;s fair enough. We cannot build a rich country without building rich politicians. Our thoughts are narrow-minded and so we resort to protests and strikes even over such small things. A case in point is the protests made against Home Minister Shakti Basnet when he arranged, for some of his near and dear ones, a trip to the land of his idol, Late Chairman Mao! Who will want to be a minister if s\he cannot even do such little things?</p>

<p>Nepal is no more just Nepal; it&rsquo;s now become the Federal Democratic Republic of Nepal. This change (even if it is just in name) has been made possible by the blood, sweat toil and tears of the Nepali people. It&rsquo;s not that this change &ndash; from Nepal to the Federal Democratic Republic of Nepal - became possible through an 8- or 12-point agreement facilitated by any other country. Certainly not India!</p>

<p>So, going by the country&rsquo;s new name, we have just entered the phase of federalism. Once this is sorted out, we will enter the democratic phase and then, finally, the republic phase. What is the point in running out of patience at this early stage of federalism?</p>

<p>Federalism will come once the politicians, their families and near and dear ones have developed first. Democracy will follow the arrival of federalism. Then, after democracy, republicanism will come. And only after that, Nepal&rsquo;s development. This has been scripted in the new constitution &ndash; Federal Democratic Republic of Nepal. Look which word comes first and which next. You should be able to understand what&rsquo;s written!</p>

<p>Thus, we are still in an evolution process. Just because some of us have gone abroad and seen the progress there, it is not appropriate for us to talk big about development here. The time for us to venture towards an open society and open economy hasn&rsquo;t come yet. Right now, we are in the stage of shutdowns. We will talk about opening something once everything is shut down. We have just entered the age of declaring &ldquo;open urination and defecation free areas&rdquo;. Going by this measure, we are about 200 years behind the developed countries. It&rsquo;s a different thing altogether that we were either better off or on par with most of today&#39;s developed countries 200 years ago. It&rsquo;s just a matter of time. Sometimes, they are ahead, sometimes we are behind.</p>

<p>The country has seen a lot of progress since the promulgation of the new constitution. This is all public knowledge. The latest progress is that the Constitution Amendment Bill and the Reconstruction Authority Bill were tabled in the parliament and the latter was passed without delay. This has opened the way for those in the government to appoint their people at institutions like the Reconstruction Authority and the National Planning Commission. It is said the vice-chairman of the Authority will be recommended by the Nepali Congress (NC). This means the party will get its fair share of the reconstruction budget pie. In yesteryears, the NC too had filled up such posts with their own people. Today, the UML and the UCPN (Maoist) are doing just the same thing. All that is left now is the Madhesi Front. If the ongoing talks bear fruit, the Front too will come to the forefront to claim its share. Then the number of deputy prime ministers will surely go up from the present six. If this rises to eight, then Nepal will once again become a talking point for the world.</p>

<p>In fact, our leaders have already made Nepal an example for the world. For example, Nepal has become the country which somehow functions despite having the highest number of shutdowns. This year has been a year of shutdowns, so far.&nbsp;<br />
A recent report has shown Nepal as the poorest country in South Asia. Our leader&rsquo;s farsightedness is reflected in this report as well. It&rsquo;s not for nothing that the Nepali leaders are famous the world over; how can the developed countries, which hesitated to provide reconstruction aid to Nepal after the earthquake, sit back and not help Nepal now?</p>
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			'id' => '1393',
			'magazine_issue_id' => '957',
			'magazine_category_id' => '31',
			'title' => 'TeliaSonera’s Exit ',
			'image' => '20160112123354_ed.jpg',
			'short_content' => 'TeliaSonera’s December deal to sell its shares in Ncell to Malaysia’s Axiata cannot be viewed in Nepal simply as a business decision by two companies. Some indications of the gravity of the situation were already there when the Scandinavian company had announced in September its plan to exit former Soviet Union countries as well as Nepal.',
			'content' => '<p>TeliaSonera&rsquo;s December deal to sell its shares in Ncell to Malaysia&rsquo;s Axiata cannot be viewed in Nepal simply as a business decision by two companies. Some indications of the gravity of the situation were already there when the Scandinavian company had announced in September its plan to exit former Soviet Union countries as well as Nepal. That announcement had come after TeliaSonera got embroiled in scandals in those former Soviet Union countries and was tired of unsuccessful efforts to take dividends from Nepal. Against this background, the nature of the deal which it has signed with Axiata now portends some more problems with Nepal that are likely to arise in the course of its implementation.&nbsp;</p>

<p>TeliaSonera&rsquo;s ownership in Ncell is not direct. The Scandinavian company holds Reynolds Holdings which in turn holds 60.4% shares in Ncell. And Axiata is buying 100% of Reynolds as well as the 19.6% of Ncell shares held by Visor, an investment firm of Kazakhstan. Thus the share transaction will not take place in Nepal. Reynolds is likely to remain the legal owner of Ncell. As a result, Nepal&rsquo;s tax authority will not be able to get money from this deal. They have to be content with what they can squeeze out of the share transfer between the local shareholders who own only 20% in Ncell.&nbsp;</p>

<p>But as both TeliaSonera and Axiata have their countries&rsquo; respective governments as their partial owners and the deal is announced publicly by both companies, the Nepali authorities might try to ask for taxes (such as capital gain tax) according to Nepal law citing examples from other countries and thereby delaying the process. Nepali authorities are notoriously good at creating hurdles to stop something from happening.&nbsp;</p>

<p>All will be well if TeliaSonera pays as demanded and peacefully gets out of the problem that it was facing in taking the dividends out. But if it thinks otherwise and tries to fight it out, that will send negative signals to all other foreign investors that may be thinking of entering Nepal and that will include Axiata as well. More importantly, it may seriously hamper the operations of Ncell itself, a company recognised as a model of management excellence in Nepal.&nbsp;</p>

<p>It may be recalled that Ncell was recognised as the best managed company of the year in 2014 by a panel of judges consisting of well-known experts from the fields of Economics, Management, Banking, Accounting and Public Administration under NewBiz Conclave and Awards. Also to be noted is the fact that it was the fierce competition posed by Ncell that compelled government owned Nepal Telecom to be innovative and competitive, thus benefiting the general Nepali consumer. &nbsp;</p>

<p>This deal between TeliaSonera and Axiata also highlights other serious flaws in Nepal&rsquo;s legal system. For example, the compulsory requirement of 20% shares to be in the hands of Nepali investors in this type of company is clearly unnecessary and needs revision. As this did not stop TeliaSonera to control such a 20% stake, it is not going to stop Axiata either from doing the same. &nbsp;</p>

<p>However, if everything goes smoothly and Axiata does finally enter Nepal&rsquo;s telecommunication sector, that should be a welcome development. Nepali consumers can expect similar types of innovation in Nepal as is happening in India through Idea Cellular in which Axiata is an important stakeholder.</p>
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			'id' => '1394',
			'magazine_issue_id' => '957',
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			'title' => 'What Does India Want?',
			'image' => '20160112123526_Clipboard05.jpg',
			'short_content' => 'What does India want from Nepal? This is the question on everyone’s lips – from the meetings attended by the Prime Minister to private dinner tables, to coffee and tea shops. The other question that follows is: why did India impose the unofficial blockade against Nepal?',
			'content' => '<p><strong>--By Akhilesh Tripathi&nbsp;</strong></p>

<p>What does India want from Nepal? This is the question on everyone&rsquo;s lips &ndash; from the meetings attended by the Prime Minister to private dinner tables, to coffee and tea shops. The other question that follows is: why did India impose the unofficial blockade against Nepal?</p>

<p>The blockade has been going on for more than three months now. But the country is still waiting for the answers. Even those who are supposed to be in the know don&rsquo;t know. &ldquo;I thought I understood India and knew what she wants from Nepal. But the blockade has proved me wrong. I haven&rsquo;t been able to fathom out what India wants from us this time,&rdquo; replied a bemused Nepali Congress Central Committee member.</p>

<p>He is one among those who do not subscribe to the theory that India imposed the blockade because the Madhesis were not included in the constitution promulgation process. Although, he makes a guess and says, &ldquo;This time India wants something big. What the Madhesis want and what India wants are different. That&rsquo;s why India welcomed the three-point roadmap that the Nepal government recently made. But the Madhesis have ignored it.&rdquo;</p>

<p>Perhaps, the NC leader has a point there. But that still doesn&rsquo;t answer the main question &ndash; what does India want from Nepal?</p>

<p>When nothing is said officially (India has even officially denied that it has imposed any blockade against Nepal, calling the &lsquo;problem seen at the border&rsquo; a result of Nepal&rsquo;s own internal matters), people are bound to speculate and wonder.</p>

<p>One speculation is: the current BJP-led Indian government didn&rsquo;t like the declaration of Nepal as a secular state. So as a pressure tactic, it imposed the blockade so that Nepal would revert back to a Hindu state. It&rsquo;s true that Prime Minister Narendra Modi&rsquo;s BJP is a pro-Hindutva party. But given the fact that India itself is a secular country, it is hard to digest that it would go to the extent of mounting a blockade to force Nepal to give up secularism and become a Hindu state again.</p>

<p>Another popular speculation is: India&rsquo;s eyes are set on two major Nepali rivers, Koshi and Karnali. India wants these two rivers to fall in Madhesi-dominated states by redrawing state boundaries. According to the believers, the blockade is an implicit use of force by India to make Nepal tow that line.&nbsp;</p>

<p>However, this theory too doesn&rsquo;t hold much water. It is true that Nepal&rsquo;s rivers are a matter of interest as well as concern for India. Because India needs energy and that can be obtained from Nepal&rsquo;s rivers. However, hydropower cannot be extracted from the Nepali rivers once they enter India or even the Madhes. Similarly the rivers flowing from Nepal cause floods in India every year and India wants to construct dams to control these rivers and such dams cannot be constructed once these rivers enter India. These are logical points. But what is illogical is the blockade was imposed to achieve these objectives. The new constitution clearly says that projects related with water resources will come under the jurisdiction of the central government; so it doesn&rsquo;t really matter which province the rivers fall in when the state boundaries are redrawn.</p>

<p>So, what does India want? The answer perhaps has to be found in the three-point roadmap which the Nepal government recently endorsed with the aim of addressing the demands of the agitating Madhesi Front through the amendment of the new constitution. India has already welcomed this roadmap. Nepal government on December 20 decided to advance the Constitution Amendment Bill, which is already registered in the legislative parliament, with the aim to ensure proportional inclusion and electoral constituencies on the basis of population, redraw state boundaries through a political committee within three months and resolve the current crisis in the Terai districts.</p>

<p>There was no need for a blockade to make the Nepali politicians agree for proportional representation and electoral constituencies based on population. Then what was the blockade for? For the state boundaries to be redrawn so that Koshi and Karnali would fall in Madhes or Tharuhat provinces? But we already rejected this theory.</p>

<p>Meanwhile, Mahanth Thakur, the leader of the Madhesi Front said on Dec 29 that the Front would change the form of its protest programme from border blockade to other forms. That means the more than three months long blockade could come to an end soon.&nbsp;</p>

<p>It is still not clear what India and the Madhesi parties wanted to achieve from the blockade initially. But at present, it seems, India wants a face saving and the Madhesi parties a safe landing. &nbsp; &nbsp;&nbsp;</p>

<p>Meanwhile, something about the KP Oli government. The honeymoon period is not over for the KP Oli government. It hasn&rsquo;t been even three months since Oli took the reins of the country in his hands. Talking about his achievements, it&rsquo;s enough to say that though he has already appointed half a dozen deputy prime ministers, his cabinet is still incomplete. Madhes is still agitated. India&rsquo;s unofficial blockade still continues.</p>

<p>The general perception is the Oli government hasn&rsquo;t achieved much. This is not a good sign. He has sent one of his deputies to China to, among other things, strike a petroleum supply deal. But the government is yet to make it clear how it will bring petroleum from China in the absence of efficient connectivity between the two countries.</p>

<p>Most likely, everybody, including the government will forget everything once fuel supply from India becomes normal. &nbsp;&nbsp;</p>
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			'content' => '<p>Biztoon January 2016</p>
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			'title' => 'Exploiting Potentialto the Maximum',
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			'short_content' => 'We should now try to find a solution to end another similar situation  from occurring which could throw us into chaos when our relations  with a neighbouring country grow cold.',
			'content' => '<p><strong>--By Ashok Kumar Baidya</strong></p>

<p>Vietnam, a once war-ravaged South-east Asian country has set itself up as a model for development in a short period of time. This shows that economic independence is possible if there is strong will and commitment. We should understand that economic independence today is prosperity achieved through the maximum use and exploitation of one&rsquo;s own available resources. In Nepal&rsquo;s context, it should be understood as the exploitation of resources like tourism, hydroelectricity, agricultural products, herbal products and &nbsp; minerals. Nepal is not only landlocked like Switzerland, it is also endowed with natural beauty. We have a reservoir of human resources which remains underused. It can help us to achieve self-reliance if we use it properly. If the countries of the Middle East have presented an example of development by using Nepali human resources, there is no reason why we cannot make good use of this resource.&nbsp;</p>

<p>Singapore has developed by itself significantly even from a situation of low industrial base. Switzerland has created a self-reliant economy despite its land-locked status. These countries made their disciplined human resources and tourism as their base for a self&ndash;reliant economy. There was a time when Nepal used to export rice to India, Bangladesh, Burma and other countries. Now the situation has changed completely. Instead, we are importing rice on a huge scale annually. I still remember when my father used to export rice to Andhra Pradesh in India. Now Andhra Pradesh itself produces sufficient rice.&nbsp;</p>

<p>The potential in hydro-electricity can be used to make Nepal self-reliant. &nbsp;We can earn billions of rupees from this. But we have lagged behind because of our failure to exploit these potential areas. &nbsp;We could not generate electricity from hydroelectricity projects like Arun III even after 20/25 years, whereas a small country like Bhutan has been transforming hydro-electricity into earnings.&nbsp;</p>

<p>We have an equally bright potential in tourism. In addition to our natural scenery, we also have religious tourism which can help promote a self-reliant economy. It&rsquo;s true that we are land-locked but if land-locked Bhutan can achieve economic progress despite limited resources, then there is no reason why we cannot do so. Because of geography, it is easier for us to trade with India than with China though we should maintain friendly relations with both neighbours. &nbsp;<br />
&nbsp;&nbsp;<br />
Nepal shares an almost 2000 kilometre open border with India. Most of the border points are functioning. With regard to China, only the Tatopani border point is in a functioning state. That, too, is now almost dysfunctional due to the earthquake last April. Now there is talk about opening other border points also. The diversification of trade is a good thing. It will benefit the national economy. But the difficult geography and long distance should also be taken into account. This is why the trade with India is more important.</p>

<p>&nbsp;In my opinion, we should start removing the present hurdles at the diplomatic level. India had imposed an official blockade against Nepal in 1989 but the question arises as to why we did not take precautions against such a possibility happening again? We should now try to find a solution to end another similar situation from occurring which could throw us into chaos when our relations with a neighbouring country grow cold. For this, we need to achieve self-sufficiency in things we can produce and should have a sufficient stock of what we must import. We failed to demonstrate our diplomatic sharpness over the issue of laying pipe lines to supply petroleum products. This is being talked about lately but is yet to take on any momentum. The supply of petroleum products is of strategic importance. We need strong economic diplomacy to realise it.</p>

<p>India needs sufficient electricity for its industries. If Nepal can increase its capacity to use its hydro-electricity potential, there will be interdependence between Nepal and India which will be to our benefit. For a self-reliant economy, trade and industrial policies should be flexible and the private sector friendly. And the private sector forms the basis of our economy. We need to have a long term plan and concrete ideas. If we focus on the above mentioned resources for the next ten years, we can, in my opinion, create a self-reliant economy. Political stability is also one of the basic prerequisites for a self-reliant economy. During my term at the Birgunj Chamber of Commerce and Industries, we had succeeded in signing a 12-point Agreement by bringing together five former prime ministers. If the political parties implement this, it will help lay the foundation for a self-reliant economy.</p>

<p style="text-align: right;"><em>The writer is former president, Birgung Chamber of Commerce and Industries.</em></p>
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			'id' => '1397',
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			'title' => 'Beyond the Rhetoric of Self-reliance',
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			'short_content' => 'It is necessary to take a bottom-up approach to develop our country. We have made several mistakes in the past in the areas of economic development.',
			'content' => '<p><strong>--By Pradeep Kumar Kedia</strong></p>

<p>Though all the dimensions of an economy are not always independent, immense possibilities exist, if we make the effort. We only lack the will and zeal. We need to do some extensive home work. It will not take long to consolidate a foundation for a self-reliant economy if the government, private sector and the political parties start doing this from their respective areas. The economies of Singapore and South Korea have shown what can be done if there is a will and integrity of purpose.</p>

<p>We will soon stand in the row of prosperous nations if we move ahead with a determination to attain prosperity. We can achieve that goal by effectively mobilising our internal resources and potential. It is necessary to take a bottom-up approach to develop our country. We have made several mistakes in the past in the areas of economic development. As a result, we are not only perpetually dependent but are also suffering from external domination. We need to move ahead by correcting our past mistakes.&nbsp;</p>

<p>Though it is not new knowledge in that we can make hydro-electricity as the mainstay of Nepal&rsquo;s economy, we have not been able to establish a new outlook and thinking with regard to its use. The production and use of electricity has only remained a rhetorical exercise. We are selling our unskilled labour in the overseas job market. &nbsp; If we could send skilled manpower, we could earn three times as much. &nbsp;A skilled worker enhances income. It could help a country, which is being sustained by remittances, immensely.&nbsp;</p>

<p>Though Nepal is small from a geographical point of view, it has a diverse topography and climate. There is a difference in the ground realities of Taplejung in the east and Darchula in the west. Farming flourishes in the hills of Nepal. Many kinds of agricultural products are possible because of the diversity of the climate. We are getting to consume agricultural products even when they are out of season. If appropriate technology is introduced, there is no reason why we cannot profit from agriculture. We should give emphasis on products of comparative advantage.</p>

<p>We have not yet adequately exploited the potential that tourism has. In the past, tourists stayed only for 2/3 days but their visits have lengthened after the trekking infrastructure was improved. If we can identify and advertise potential areas, the possibility of earning from tourism is also not unattractive.&nbsp;</p>

<p>It is necessary to enhance export to promote self-reliance. We are now dependent on India and a few other countries. We should expand our search for alternatives. Currently, we depend on India for petroleum products but we can find an alternative source. If we develop hydro-electricity, the quantity of petroleum imports will naturally come down. It will also help us to reduce the trade deficit. We can also earn a lot by selling electricity.</p>

<p>We have a habit of taking action only after we feel the pinch. You don&rsquo;t open a hospital only after you get sick. The infrastructure for the treatment and prevention against diseases is necessary. Why can&rsquo;t we be self-sufficient? This is something we should think about. We could not learn the lesson from the blockades of the past. Even today, we are just parroting the rhetoric when it comes to self-reliance.</p>

<p>There was obstruction at the border, so why did the government fail to operate our own dry port in time? If the goods were transported to other places in time, the magnitude of the loss would have been less. There are thousands of containers with goods still stuck at the Kolkata port. We are ourselves at fault here. We cannot just keep on pointing fingers at others.&nbsp;</p>

<p>We are India-locked from three sides and have China on one side. The trade with China has increased lately. &nbsp;More border points may be opened in the future. We can bring goods from anywhere by paying money because it is the age of open market and globalisation. What is needed is a liberal attitude on regulations and policies. In future, relations may sour with China also. A sense of uneasiness over trade with any neighbour may always exist. We should have adequate precautions in place to deal with such a possibility. We cannot exonerate ourselves by blaming others. Self-reliance is the only alternative.</p>

<p style="text-align: right;"><em>The writer is President, Birgung Chamber of Commerce and Industries.</em></p>
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			'title' => 'Biz News January 2016',
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			'short_content' => 'The press release stated that TeliaSonera divests its direct ownership of 60.4 percent to Axiata for USD 1,030 million on an cash and debt free basis, Ncell had a net cash position of approximately USD 284 million, after purchase price adjustments, as of September 30, 2015, and TeliaSonera will be paid for the cash position at closing in proportion to its economic interest of 80.4 percent.',
			'content' => '<p><span style="font-size:16px"><strong>Digital Signature Launched</strong></span><br />
President Bidya Devi Bhandari, Prime Minister KP Sharma Oli and Information and Communications Minister Sher Dhan Rai jointly launched digital signature for the first time in the country on Dec 2. For the time being, digital signature has only been implemented in government offices. But the authorities said, it would soon be available for the general public as well.</p>

<p>&ldquo;The introduction of the digital signature is a milestone in the area of electronic governance,&rdquo; said Bhandari.&nbsp; Similarly PM Oli emphasized on how the use of digital signatures will save time, create credibility, quality and help in social transformation. &ldquo;The use of digital signatures will be important in business, government and community centre work,&rsquo; he said.</p>

<p>Digital signature is a special government certified identification code which is used to authenticate digital information such as documents, e-mail messages by the sender or the signatory and ensures that the document is unchanged and genuine.</p>

<p>International Finance Corporation (IFC) and Word Bank have assisted the government in the implementation of digital signature in government offices. Radiant InfoTech Nepal (RIN), the certifying authority, has formally opened digital signature registration for the public.</p>

<p><span style="font-size:16px"><strong>5th National Robotics Competition</strong></span><br />
The Robotics Association of Nepal (RAN) organized the 5th National Robotics Competition during Yantra 4.0 Art, a tech and science festival, in association with Karkhana and Siddhartha Art Foundation Education Initiative. The robotics competition was held on Dec 19.</p>

<p>Tech enthusiasts and robot makers from schools, college and freelance professionals participated in four different events and competed with each another in terms of knowledge, skill and design. &ldquo;We have been creating this platform for the last four years &hellip;and more than 1000 students have already gained the knowledge of robotics,&rdquo; said RAN Media Coordinator Ramesh Ghimire.</p>

<p><span style="font-size:16px"><strong>Diesel from Plastic Waste: NAST</strong></span><br />
Nepal Academy of Science and Technology (NAST) says it will produce diesel from plastic waste within a few weeks. The announcement comes at a time when the country is reeling under an acute fuel shortage due to India&rsquo;s blockade.</p>

<p>&ldquo;We are searching for alternatives to oil,&rdquo; said Birendra Dhakal, bio fuel research head at NAST. &ldquo;This type of diesel is widely used in Japan. The fuel is prepared by melting plastic and converting it into hydrocarbon. The potential for this in Nepal is high,&rdquo; he added.</p>

<p>According to Dhakal, current methods can produce seven litres of diesel using 10 kilo grammes of plastic. However, a maximum of nine litres of diesel can be produced using thicker plastic. &ldquo;We are shifting our point of study and are focusing more on producing high quality fuel at effective costs,&rdquo; said Dhakal.</p>

<p>The government has already put Rs 10 million into the project. The machine used in the production process is being imported from China.</p>

<p>Around 75 metric tonnes of solid waste is accumulated everyday from Kathmandu Metropolitan area. &ldquo;At least 15 percent of the solid waste is plastic waste,&rdquo; said Raviman Shrestha, Environment Management department head of Kathmandu Metropolitan City. The study conducted by NAST reveals that 40,000 litres of diesel can be produced daily from plastic waste.</p>

<p><span style="font-size:16px"><strong>ICAO Invited to Assess Aviation Sector</strong></span><br />
A team from the International Civil Aviation Organization&rsquo;s (ICAO) Asia-Pacific division will be arriving in Nepal in mid February to inspect and asses Nepal&rsquo;s aviation sector. The team is coming to Nepal at the invitation of the Civil Aviation Authority of Nepal (CAAN). After the inspection, the team will recommend to the ICAO to audit Nepal&rsquo;s aviation sector, according to Rajan Pokhrel, deputy director general of CAAN&rsquo;s Civil Aviation Safety Regulation Directorate.</p>

<p>&ldquo;The ICAO audit will be crucial for removing Nepal&rsquo;s aviation sector from the blacklist of the European Union. Nepal can get off the list if the verdict of the audit is positive,&rdquo; said Pokhrel.</p>

<p>According to Pokhrel, the ICAO team will assess eight areas: legal structure of Nepal&rsquo;s aviation sector, organisational structure, individual and organisational licensing, airplane maintenance, investigation after airplane accidents, airport and its services. The findings of the audit will decide if Nepal can be removed from EU&rsquo;s black list.</p>

<p>The EU has continued to blacklist Nepal&rsquo;s aviation sector accusing it of not making satisfactory improvements. But Pokhrel said he is confident that improvements were being made and that the aviation sector will be removed from the black list within a year.</p>

<p><span style="font-size:16px"><strong>Infrastructure Company &lsquo;Emerging Nepal&rsquo; Established</strong></span><br />
An infrastructure company is all set to come into operation with the investment of industrial groups, former administrators and bankers. Named &lsquo;Emerging Nepal&rsquo;, the company has decided to invest in roads and hydroelectricity projects at the first stage. It has also planned to revive ailing industries by investing in them or taking over their management. &lsquo;The company will concentrate on the development of most essential infrastructures for economic development&rsquo;, Chairperson of the company, Lalmani Joshi said. The company has been established with a view to invest in infrastructure development, initiate consultancy services and to undertake feasibility survey for the infrastructure development. The company was registered at the office of the Company Registrar on 17 August 2015.</p>

<p>The company&rsquo;s authorized capital is 5 billion rupees while its paid up capital is 100 million rupees.&nbsp; It will be increased as per need. The government has invested 500,000 rupees in the company.&nbsp; In addition to that, there is investment of business houses, industrialists, administrators, bankers and non-resident Nepalis. &ldquo;Though the company is in the stage of starting the operation by collecting paid up capital, it is delayed somewhat&nbsp; due to the unofficial blockade as well as for the time consumed in the process of the appointment of the company&rsquo;s CEO,&rdquo; he said. The management of the company has claimed that it will come into operation by the end of this fiscal year at the latest.</p>

<p>The company will be operated on public-private partnership basis. &lsquo;We will in fact present ourselves as a model of public-private partnership&rsquo;, Joshi said.&nbsp; According to him, the investment of the government in the company will increase the confidence of national and international institutions on this company increasing the possibility of attracting more investments.&nbsp; However, it is structured in such a way that the private sector will take up its management responsibility. According to the investors, this will facilitate many things ranging from policies and infrastructure building. &nbsp;</p>

<p>The company is also visualized as a &lsquo;think tank&rsquo; in addition to its role to organize trainings and seminars. It has an objective of investing in infrastructure; provide infrastructural support to other organizations and to offer consultancy services when asked for. According to Joshi, the company may also issue bonds and debentures with prior permission from Nepal Rastra Bank.&nbsp; It may also contribute to develop financial, educational and medical hubs in some areas of the country.</p>

<p>Renowned business people like Manoj Bahadur&nbsp; Shrestha from Himalayan Bank, Chandra Dhakal from Global IME Bank, Industrialist Shrawan Kumar Agrawal, Senior Vice President of&nbsp; Confederation of Nepalese Industries Haribhakta Sharma and Business Houses such as Vishal Group, Sanghai Group, Murarka Organisation, Golchha Organisation and Jyoti Group are also participating in the company. Former finance secretary Rameshwor Khanal and retired officers from various banks are also part of the company.</p>

<p><span style="font-size:16px"><strong>Illegal Transactions of Indian Currency Flourish</strong></span><br />
The blockade at the Nepal-India border has triggered illegal transactions of Indian currency together with the smuggling of other goods including petroleum products.&nbsp; According to officials of the exchange department of Nepal Rastra Bank (NRB), the demand for Indian currency has increased due to the use of the currency by petty traders and smugglers.</p>

<p>&ldquo;The demand for Indian currency is growing at an unsustainably high rate,&rdquo; said an official of the department.&nbsp; According to him, Indian Rupees 100 is being exchanged for Nepali Rupees 170 to 200 in the Terai.&nbsp; NRB has fixed the exchange rate of 160 Nepalese rupees for 100 Indian rupees. As the Nepali currency is pegged with the Indian currency, the exchange rate remains fixed in formal transactions.&nbsp; With the increase in the use of Indian currency in smuggling, people are buying Indian currency at a higher rate. &nbsp;</p>

<p>Lately, the local business people are reported to be bribing up to 200,000 rupees to Indian police to free their goods at the border.&nbsp; As this payment is also made in the Indian currency, illegal transaction of currency is flourishing.</p>

<p>Black market and smuggling have become widespread after the blockade badly affected the import of goods through the formal channel.&nbsp; In the month of October of last fiscal year, goods worth Rs 40 billion were imported from India to Nepal.&nbsp; The value of the import carried out in the same month of the current fiscal year was only Rs 14 billion. In the three months of the current fiscal year, Nepal has imported goods worth Rs 80 billion. The value of import was Rs 123 billion in the same period of the previous fiscal year.</p>

<p><span style="font-size:16px"><strong>Prabhu Group Set to Fly High</strong></span><br />
Prabhu group has taken a big step into the airline business after purchasing a 55 percent stake in Muktinath Airlines. Even though the purchase happened two months ago, Muktinath recently changed their brand name, says general manager Binod Thakali.</p>

<p>The group has also ordered an R-66 Helicopter from the US based airlines company Robinson Helicopter Company for Rs 100 million. The helicopter can fly up to 14000 feet, said Thakali.</p>

<p><span style="font-size:16px"><strong>3,600 Heavy Equipment Lying Idle since September</strong></span><br />
Ninety percent of heavy equipment has been lying idle since September as under-construction infrastructure sector projects have been brought to a complete halt because of the scarcity of petroleum products. According to Tara Bahadur Kuwar, president of the Heavy Equipment Association of Nepal, out of the 4,000 heavy machineries in the country, nearly 3,600 are lying idle and only about 400 are operating in the Western region and in areas near the Indian border.</p>

<p>Construction entrepreneurs say that heavy machineries are lying idle for the lack of fuel because of the Indian blockade. They also complain that as some equipment were still at the construction sites, there was a risk of their parts being stolen and their engines falling into disrepair. Kuwar said that the government should provide fuel for bringing these machineries to safety. Construction entrepreneurs feel that they can prevent these machineries from going out of order if they are provided fuel on a daily or weekly basis.</p>

<p>&nbsp;In Nepal, heavy machineries are used mostly in hydroelectricity projects, cement factories, stone quarries, sand excavation, crusher industries, brick kilns, bridge construction, and road widening and pitching of roads.&nbsp; &ldquo;This situation has emerged because no project has started operation since the beginning of the current fiscal year,&rdquo; entrepreneurs say. Some projects have, however, managed to continue operation by buying fuel even at a higher price.</p>

<p>According to Heavy Equipment Entrepreneurs&rsquo; Association, Rs 40 billion has already been invested in this sector. On an average, a heavy machine costs Rs 6 million. &ldquo;Most of the entrepreneurs have not been able to even pay their installments to banks,&rdquo; said Kuwar. According to him, out of the total investment, 50 percent of investment comes from loan. So far,&nbsp;&nbsp; a loss of Rs 3.36 billion has already been incurred. The monthly loss is Rs 840 million. One unit of Heavy equipment gives a monthly business turnover of around Rs 200,000.</p>

<p>About 20 thousand workers have been directly affected because of so many heavy machineries lying idle. According to the association, there are 2,500 backhoe loaders out of four thousand pieces of heavy equipment. Likewise, there are 500 loaders, cranes and dozers. Out of 2 thousand excavators, about 1 thousand are in irreparable condition. In addition to this, there are 200 platform trailer trucks for carrying heavy equipment lying completely idle.</p>

<p><span style="font-size:16px"><strong>Rastra Bank to Exit Gurkha Bank Mgmt</strong></span><br />
Nepal&nbsp; Rastra Bank is preparing to leave the management of Gurkha Development Bank by mid January. Gurkha Development Bank and Kathmandu Finance have called special general meeting of their respective shareholders with a plan for merger. The Rastra Bank source has said that it will endorse the merger and handover management within a week of the general meeting. Gurkaha was declared a troubled bank on 25 March 2011 andNepal Rastra Bank had taken control of the management of the bank on 3 January 2013. The management of the Bank is being handled at present by Muktinath Sapkota and Drishnasharan Fuyal from the Rastra Bank.</p>

<p><span style="font-size:16px"><strong>Merger with Kathmandu Finance</strong></span><br />
According to the Due Diligence Report prepared by Nepal Rastra Bank,&nbsp; the paid up capital of Gurkha Bank&nbsp; has come down to 10.9 million rupees from 661.6 million. On the basis of the final DDA report of both the institutions&nbsp; the share swap ratio has been fixed at 1:1.&nbsp; Though the Kathmandu Finance has been issuing rights shares at the ratio of 1:1, the paid up capital of the merged institution is expected to reach only 509 million rupees. If it becomes a development bank after the merger, it has to raise its paid up capital to 800 million rupees by June 2017&nbsp;&nbsp; as per the new directive of the Rastra Bank. Since the paid up capital is not likely to reach the required level, there is a strong chance of the merged institution to become a &lsquo;c&rsquo; class finance company. &nbsp;</p>

<p>The name of the merged bank is yet to be finalized. Gurkha had initially 22 branches, but it has come down to five branches after it sold some of its branches. Kathmandu Finance, however, is planning to buy three branches. With this, the number of branches of the new institution will reach eight. The last transaction of the shares of Kathmandu Finance in the stock exchange had taken place on 26 May 2015 at the rate of Rs. 141 per share.</p>

<p><span style="font-size:16px"><strong>The changes Gurkha Bank introduced &nbsp;</strong></span><br />
Gurkha bank had an accumulated loss of 1.37 billion rupees when NRB had taken control over it but this has&nbsp; now been reduced to 445.9 million rupees. Recently it was able to recover 350 million rupees out of the loan issued to Abdul Kawadi and Krsi Premura Properties for constructing JSB Financial Tower. &nbsp;</p>

<p>The capital adequacy ratio was negative 40 percent but it has now come down to negative 11 percent The ratio of bad loan on the total loan was&nbsp; 80 percent until some months back, but it has come down to about 70 percent by early December.</p>

<p><span style="font-size:16px"><strong>Nepal Vocational Qualification System Project Launched</strong></span><br />
With an aim to increase workforce skills and competency, the Ministry of Education (MoE) and the Swiss Foundation for Technical Cooperation (Swisscontact) have jointly agreed to establish a National Vocational Qualification System (NVQS) project. The NVQS project which will be under the MoE, will be implemented by the Council for Technical Education and Vocational Training (CTEVT) / National Skills Testing Board ((NSTB). Swisscontact will provide the technical assistance.</p>

<p>The NVQS project, which is slated to stretch over a period of ten years, will provide a gateway into jobs for more than 500,000 youths who enter the labour market yearly.</p>

<p>While praising the new initiative, Bishwo Prakash Pandit, secretary at MoE said, &ldquo;Nepal needs economic growth in order to utlise its resources and only skills help to prioritise the development agenda of the country.&rdquo;</p>

<p><span style="font-size:16px"><strong>Rs 60 billion for TIA Expansion</strong></span><br />
The long-awaited expansion of Tribhuvan International Airport (TIA) will start sometime in 2016, said TIA General Manager Dewanand Upadhyay. A French consultancy firm is working on the design of the project which is backed by a Rs 60 billion loan and grant from the Asian Development Bank (ADB).</p>

<p>The increasing pressure from the rising number of travellers and the current space limitations at the airport have had an impact on passenger convenience, said Upadhyay, admitting that though the number of passengers has more than doubled over the years, the services, facilities and airport security has remained the same.</p>

<p>The current TIA building was constructed in 2002 to handle around 1400 passengers at peak hours. A project to expand the airport in 2010 to handle the increase in passenger volume &ndash;up to 2460 passenger at peak hours- is still underway and has been extended till 2018 owing to different reasons.</p>

<p>Started as a long-term upgradation programme, the new expansion project aims to enable the airport to serve 3600 passenger at peak hours, according to Upadhyay. He said the new airport building is going to be built to the north of the current building. The expanded airport will be spread across 90,000 sq meters and will have parking space for 20 international airplanes and 42 domestic planes.</p>

<p>Six boarding bridges will also be constructed and modern pipelines will be used to fuel airplanes. After the expansion, the airport will be extended to Gaushala in the north and Koteshowr in the south. The current international terminal will be transformed into the domestic terminal after the new airport is built by 2028, said Upadhya.</p>

<p><span style="font-size:16px"><strong>Compulsory Solar Energy at Urban Homes</strong></span><br />
To find a solution to the energy crisis gripping the country, the government is preparing to make it mandatory for urban homes to install solar roof-top systems. According to sources, the Ministry of Federal Affairs and Local Development (MoFALD) will soon direct all local bodies not to grant building permits and not to approve the design (blueprint) of government offices, public, commercial and corporate buildings that do not incorporate plans to install solar roof-top systems.</p>

<p>A joint meeting of MoFALD officials and representatives from the Kathmandu Metropolitan City and Alternative Energy Promotion Centre recently reached this conclusion, said the source.</p>

<p>If the system is implemented then the building construction cost will rise slightly. &ldquo;It costs Rs 100,000 to 120,000 to install solar panels of 500W capacity,&rdquo; says Gopi Krishna Khanal, joint secretary at the ministry, adding &ldquo;Those who can invest millions of rupees to construct their homes should not hesitate for this little spending.&rdquo;</p>

<p>The main source of domestic energy in Nepal is electricity but the supply of electricity is far less than the demand, leading to long hours of load-shedding. &ldquo;This is why the government is encouraging the use of alternative energy,&rdquo; said Khanal.</p>

<p>According to Khanal, each private home built in urban areas will have to install a solar roof-top system of 500W capacity. Similarly, the concerned local bodies will approve the blueprint of government, commercial and corporate buildings only if the applicant agrees in writing to generate at least 25 per cent of total energy it consumes a day or 1,500 watt, whichever is higher, through installation of solar roof-top systems. If all goes well, installation of such solar roof-top systems is expected to generate around 20MW of electricity. The power generated thus can also be connected to the national grid to reduce load-shedding during peak hours.</p>

<p>The country has one metropolitan city, 12 sub-metropolitan cities, 217 municipalities and 3,157 village development committees. The government has pledged to promote solar power in the budget for fiscal year 2015-16. It has also assured of purchasing excess electricity generated by government, commercial and public buildings using solar roof-top systems.</p>

<p><span style="font-size:16px"><strong>NTB Gets CEO after Four Years</strong></span><br />
Nepal Tourism Board (NTB) has finally got a new Chief Executive Officer (CEO) after a four-year gap. A NTB board meeting held under the chairmanship of the Secretary of the Ministry of Tourism, Culture and Civil Aviation, Dinesh Thapaliya appointed Deepak Raj Joshi as the new CEO.</p>

<p>The board selected Joshi as the most eligible candidate. The other two contenders for the post were Gyaneshwor Prasad Singh Mahato and Gyanendra Ratna Tuladhar. Joshi got 39.5 votes and will now lead the NTB for the next four years.</p>

<p>The position of CEO had remained vacant at NTB since November 2011, after the then CEO Prachanda Man Shrestha completed his tenure. &nbsp;</p>

<p>&ldquo;We are highly motivated this time because despite the blockade and the crisis, 61 teams have registered for the competition,&rdquo; he added.</p>

<p><span style="font-size:16px"><strong>FM to Coordinate Energy, Irrigation and Road Construction Projects</strong></span><br />
The Finance Ministry (FM) has said it will coordinate with the relevant government bodies for the effective implementation of energy, irrigation and road projects of national pride. As these projects have been moving very slow, the ministry will coordinate the construction work of such projects, according to Finance Secretary Lok Darshan Regmi.</p>

<p>&ldquo;We are focusing on the building of infrastructures for a prosperous economy and industrialisation of the country. For that, we are going for the effective implementation of these projects, he said, &ldquo;It will increase the government&rsquo;s capital expenditure and at the same time help to create capital.&rdquo; Regmi added that the finance ministry will give priority to such projects while allocating budget.</p>

<p>In the current fiscal year, most of these projects are interrupted by the April 25 earthquake, Terai unrest and India&rsquo;s unofficial blockade. As of Dec 5, the government has been able to spend only Rs 9.93 billion or 4.76 percent of total development budget. The government has not been able to send the money as the construction works of such projects have been halted because of the lack of fuel and construction material. The government has allocated Rs 200.8 billion as capital expenditure also known as development budget.</p>

<p><span style="font-size:16px"><strong>RTI President Inaugurates 3 New Tables in Kathmandu</strong></span><br />
Round Table International (RTI) President, Tabler Altaf Jeevunjee, along with the RTI board, inaugurated three new tables in Kathmandu on Nov 28, a press release from Round Table Nepal (RTN) said. The 3 new tables are Kathmandu Knights Round Table, Kathmandu Saints Round Table and Kathmandu Titans Round Table.</p>

<p>The day before the inauguration, on Nov 27, the National Executives Meeting along with the Charter for a new table - Kathmandu Royals Round Table 23 - was held at Soaltee Crowne Plaza in the presence of the RTI Board, which was also followed by a fellowship event.</p>

<p>RTN is a part of the RTI. At present there are 22 tables in Nepal. Working under the motto, Freedom Through Education, RTN is focused on building schools in rural Nepal. After the earthquake, RTN started to re-construct around 100 classrooms in various schools in Nuwakot.</p>

<p>In 2016, RTN will host the Round Table International World Meet in Kathmandu. The four-day event will start on Aug 31 and end on Sept 4. Around 400 members from various parts of the world will be attending the mega event.</p>

<p><span style="font-size:16px"><strong>Syakar&rsquo;s Give a Lift Campaign</strong></span><br />
Syakar Trading Company, the authorised distributor of Honda Cars, Motorcycles, and Scooters in Nepal, has initiated a CSR campaign to address the current crisis in the country. The campaign titled &ldquo;Jimmewar Nepali Ma: Seat Khali Chha&rdquo; tries to manage, organise and encourage the lift giving/taking trend that has been growing in the country. The company said it will be distributing free &quot;Seat Khali Chha&quot; badges to the willing volunteers.</p>

<p>According to the company, any volunteer willing to take part in the &quot;Seat Khali Chha&quot; campaign may put this badge on the mirror of their motorcycles or scooters, or on the windscreens of their cars (through a hassle-free clipping method). Syakar Company has also stated that these badges for cars, motorcycles, and scooters are available at the authorised distributors of Honda inside the Kathmandu Valley. Furthermore, these badges may also be downloaded from Honda Facebook page for temporary use.</p>

<p><span style="font-size:16px"><strong>Gems Wins Real School of Nepal Award</strong></span><br />
Gems Higher Secondary School has won the title of &ldquo;Real School of Nepal 2015&rdquo;. Bal Kalyan Bidya Mandir and Reliance International School stood second and third, respectively. With the award, Gems received a cash prize of Rs 100,000 and Rs 10,000 scholarships for each of the participating students. The second and third placed schools each won Rs 50,000 and Rs 25,000 respectively with participating students getting a scholarship worth Rs 5,000 and Rs 3,000 respectively.</p>

<p><span style="font-size:16px"><strong>TeliaSonera Sells Holding in Ncell</strong></span><br />
TeliaSonera has agreed to sell its 60.4 percent ownership in Ncell to Axiata, one of Asia&rsquo;s largest telecommunication groups, for USD 1,030 million on a cash and debt free basis. At the same time, TeliaSonera will dissolve its economic interests in the 20 percent local ownership and receive approximately USD 48 million, said a press release from the company. The transactions are conditional on each other.</p>

<p>&ldquo;In September we announced our ambition to reduce our presence in our seven Eurasian markets and focus on our operations in the Nordics and Baltics, within the strategy of creating the new TeliaSonera. Today, I am very pleased to announce a first step and proof point in this reshaping of TeliaSonera. I am also glad to see Axiata as a new owner. That gives me comfort that our dedicated employees are in good hands when taking Ncell to the next level,&rdquo; said Johan Dennelind, TeliaSonera&rsquo;s President and CEO.</p>

<p>Axiata has more than 260 million customers and 25,000 employees. Ncell will complement its portfolio of Asian telecommunications assets, which includes operations in Malaysia, Indonesia, Sri Lanka, Bangladesh, Cambodia, India, Singapore and Pakistan. Axiata, which is listed on the Malaysian stock exchange, is a reputable company with a strong focus and expertise in South Asia and is also a long-term investor contributing to development and advancements of the countries it operates in.</p>

<p>The press release stated that TeliaSonera divests its direct ownership of 60.4 percent to Axiata for USD 1,030 million on an cash and debt free basis, Ncell had a net cash position of approximately USD 284 million, after purchase price adjustments, as of September 30, 2015, and TeliaSonera will be paid for the cash position at closing in proportion to its economic interest of 80.4 percent.</p>

<p>As part of the divestment of Ncell to Axiata, TeliaSonera will dissolve its economic interests in the 20 percent local ownership and will receive approximately USD 48 million from Sunivera Capital Ventures Pte Ltd, a Singapore registered company. One Bhavana Singh Shrestha has been chosen by Axiata as local partner. As part of the transaction, Visor will sell its 19.6 percent of Ncell to Axiata.</p>

<p>According to the release, the deal is subject to approval from Department of Industries in Nepal, Nepal&#39;s Telecom Authority, Malaysian Central Bank and Axiata&rsquo;s shareholders, respectively. Closing of the transaction is expected to take place in the first half of 2016.</p>

<p>Meanwhile, a press release from Axiata said, &quot;Through its wholly-owned subsidiary, Axiata Investments (UK) Limited, Axiata has entered into a conditional sale and purchase agreement with TeliaSonera UTA Holdings B.V. and SEA Telecom Investments B.V. for the 100% acquisition of Reynolds Holdings Limited (Reynolds). The acquisition of Reynolds for the purchase price of USD1.365 billion plus customary adjustments at closing, effectively secures Axiata an 80% equity interest and controlling stake in Ncell.&quot;</p>

<p><span style="font-size:16px"><strong>Unnamed (VR) Wins Ncell App Camp 2015</strong></span><br />
Unnamed (VR) has won the Ncell App Camp 2015. The team also won under the &lsquo;Games and Entertainment&rsquo; category. The startup won a total cash prize of Rs 750,000 (Rs 250,000 as category winner and the Rs 500,000 grand prize).<br />
CEO of Ncell Erim Taylanlar handed over the grand prize amid a function in Kathmandu. Unnamed (VR) is a 3D game in which the user is inside an old abandoned hospital haunted by ghosts. Earlier in December, Ncell had selected 24 teams for the final of the Ncell App Camp 2015. The teams included six each from four categories: Games and Entertainment, Health, Tourism and Utilities.</p>

<p>Ancients of Mandala, Arcube Games, Flipped, Lishn, Unnamed (VR) and Up had been selected as finalists under the Games and Entertainment category. In the Health category, there were Hamro Hospital, Mero Health, Mumma-Care, Naari, Skin Consult and Tele Medic as finalists. Six teams that found way into the finals by obtaining the highest scores under Tourism were Food Nepal, Nepali Coders/ Arts &amp; Crafts, PinPeaks, Thingsle, Trail It and Travel Auctioneer.</p>

<p>Similarly, 8 Byte/ Ghum Gham, Bulletin Board (Quiddity), Drop Me Here-my Cab, Nidaar, NTyles, Pangraz were selected as finalists under the Utilities category. The 24 teams also received one-to-one mentorship on developing a business model, improving user interface and experience, and pitching their ideas.</p>
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			'short_content' => 'LG has launched the latest model of its Front Loading Washing Machines in the market. The new washing machine comes with an Inverter Direct Drive System with an advanced Brushless DC motor which directly drives the drum without a belt and pulley.',
			'content' => '<p><span style="font-size:16px"><strong>Handcrafted By Washers</strong></span><br />
LG has launched the latest model of its Front Loading Washing Machines in the market. The new washing machine comes with an Inverter Direct Drive System with an advanced Brushless DC motor which directly drives the drum without a belt and pulley.</p>

<p>The 6th Motion Technology, combined with a controlled spin speed and left and right drum rotation has greatly improved the wash performance of the machine giving perfect results every time.</p>

<p>&nbsp;The smart machine also has functions like Diagnosis, Download cycle, Washing Coach, One Touch Washing etc. when you touch the Tag On logo of the machine with a smartphone. Another unique feature is its &rsquo;Intelligent Wash System&rsquo; which detects the size of the load and water temperature and then determines the optimum water level and washing time to minimise energy and water consumption.</p>

<p>&nbsp;An &lsquo;Auto Restart&rsquo; function also allows the programme to restart by itself in case of power failure.</p>

<p><span style="font-size:16px"><strong>Colors Brings Out X-factor Elite E-20</strong></span><br />
Colors has brought out a new version of its X-factor Elite E-20 mobile phone at what looks as an affordable price.&nbsp; The mobile has double speakers and is equipped with dust repellent technology. Operated with Android lollypop 5.1 system, the mobile measures 74.9mm and has an HD IPS screen.&nbsp; It has a ram of 2 GB and Read Only Memory (ROM) of 16 GB with extension capacity to 32 GB. It has a 13 megapixel main camera and 8 mega pixel front camera. The mobile has a lithium battery with a capacity of 2500 MAH. It also has a&nbsp; Cortex A53 processor of 3 gigahertz capacity and is installed with infra-red system which allows it to be used as a remote control for adjusting TV channels and regulating temperature in ACs. The mobile set costs Rs 15,700.</p>

<p><span style="font-size:16px"><strong>CTV Mobile Showroom at Durbarmarg</strong></span><br />
CTV mobile has opened a multi-brand mobile showroom &#39;Apple World Mobile&#39; at Mercantile Plaza, Durbar Marg. The showroom was jointly inaugurated by former Miss Nepal Shristi Shrestha, Singer Rajesh Payal Rai and IMS Chairman Deepak Malhotra,&nbsp; among others.</p>

<p>The showroom that opened on Dec 14 is spread over 1,000 square feet, showcases mobile phones of all leading brands like Samsung, Huawei, HTC, Gionee, Micromax, Microsoft, Sony, Blackberry, Panasonic, LG and Virtue, among others. The showroom has handsets ranging from Rs 999 to Rs Rs 900,000. This is the sixth outlet of CTV mobile and the new showroom is offering a 35 percent discount as an opening offer (at the time of writing).</p>

<p><span style="font-size:16px"><strong>Dish Home Starts Distance Learning SLC</strong></span><br />
With an aim to disseminate education to more students, Dish Home has started running SLC classes based on distance learning. According to a press release, students taking SLCs this year can now study their subjects at home. The classes are based on the official syllabus and are taught by qualified teachers. The classes will be on from 6:30am to 9:30pm.&nbsp;&nbsp;&nbsp;&nbsp; &nbsp;</p>

<p><span style="font-size:16px"><strong>Subisu&rsquo;s 15th Anniversary Offer</strong></span><br />
Subisu Cable Net, a leading internet network and television service provider, recently launched its &lsquo;Subisu 15th Anniversary Offers&rsquo; to mark the company&rsquo;s 15th anniversary. The company has introduced five different sets of offers on its home based services; Clear TV, Cable &amp; FTTH Internet service. The introduced offers are Rs 4999 on Clear TV, Rs 9999 on Internet, Rs 9999 on Clear TV and Internet Combo Offer, Rs 9999 on FTTH internet Offer and Rs 12999 on FTTH internet and Clear TV Combo Offer.</p>

<p><span style="font-size:16px"><strong>Chivas Regal 12 Year Old Out in New Packaging</strong></span><br />
Chivas Regal, the world&rsquo;s first luxury whisky, has unveiled a contemporary new design for its 12 Year Old Scotch whisky. According to a press release, the new design retains its round generous shape with the bottle&rsquo;s shoulders raised higher. The brand signifier, based on a Celtic lukenbooth, has been made more prominent with the signatures of founders James and John Chivas added to the glass to display the value of brotherhood at the heart of the brand.</p>

<p>The outer carton has been re-designed retaining the icons that hold depth of meaning and provenance to Chivas&rsquo; rich heritage, and select areas have been embossed and debossed to add a texturalised element to the packaging. The overall design is fresher, brighter, and more dynamic and the detailing, such as mixing finishes and textures adds depth, layering and a true sense of quality craftsmanship. Coley Porter Bell has also re-designed the outer carton which retains the icons that hold meaning and provenance to the brand&rsquo;s heritage.</p>

<p><span style="font-size:16px"><strong>The North Face Summit Series Reimagined</strong></span><br />
The North Face, a world leading brand in outdoor equipment, apparel and footwear, unveiled a new take on its iconic Summit Series collection late last year. The sale started from mid November 2015. The company said, the collection was available in limited quantity, designed especially for the core mountaineering and climbing community.</p>

<p>The Summit Series has been guided by a design ethos of Respect, Inspire, Evolve, said the company. &ldquo;Respects the culture and environment the athlete plays, inspires them through product design, feel and function and it evolves through innovation and technology,&rdquo; said North Face. The products, said the company, are athlete tested and expedition proven.</p>

<p><span style="font-size:16px"><strong>Micromax Canvas 5 E482</strong></span><br />
Micromax has introduced its Canvas 5 E482, a new smart phone, in Nepal. The company said the Canvas 5 E482 has a 1.3 GHz Octa-core processer making it unique.</p>

<p>The new phone has Android 5.1 Lollipop and can be upgraded to Android 6.0 Marshmallow with dual SIM card insert facility. Similarly, it has features like a 5.2 inch HD IPS OGS screen, 13MP camera with LED flash. For video calls and selfie lovers, it has a 5MP front focusing camera, 16 GB memory which can be upgraded to 64GB, 3GB RAM, and a 2,900 mAh battery. Also, the phone comes with 4G LTI, 3G, GPRS, Wifi, Bluetooth. The Micromax Canvas 5 E482 will cost Rs 21,500.</p>

<p><span style="font-size:16px"><strong>Ruslan Vodka in New Packaging</strong></span><br />
Ruslan vodka, a popular Nepali vodka brand, has been launched in a new attractive packaging. Issuing a press release, Bijay Distillery, the manufacturer of Ruslan vodka, said the new packaging gives Ruslan an international look.</p>

<p>The company said it had planned to launch the new packaging during Dashain, but the plan got delayed due to various reasons. According to the company, it manufactures Ruslan using an automated manufacturing plant established with an investment of Rs 1 billion. The company claims its plant to be one of the most efficient plants in South Asia.</p>

<p>In the new packaging, the bottle of Ruslan vodka has attractive shrink sleeves labeling and is slimmer and taller. The price of the new bottles has been fixed at Rs 1080, Rs 540 and Rs 270 for full, half and quarter bottles, respectively.</p>

<p><span style="font-size:16px"><strong>Gionee Elife S7 at Special Price</strong></span><br />
Gionee Elife S7, the slimmest dual-SIM phone, is now available at a special New Year price. Gionee&#39;s 2015 flagship, the Gionee Elife S7 launched in Nepal on April 12, will now be available at a special New Year price of Rs 26,699.</p>

<p>The Gionee Elife S7 has a 5.5mm thin design with a body made of aviation-grade alloy. It sports a 5.2&quot; 1080p FHD Super AMOLED display and carries a 13MP rear camera and an 8MP front camera with intelligent features. The Elife S7 is powered by a 1.7GHz Octa-core 64-bit processor and runs on Amigo 3.0 OS based on Android 5.0 Lollipop. It is the slimmest dual-SIM phone till date and has 2 GB RAM and 16 GB storage. Its 2750mAh battery and extreme power-saving mode makes it last longer than competitors. An Aluminum Magnesium alloy unibody design with Coring Gorilla Glass 3 on both sides makes it very sturdy.</p>

<p>A global leader in mobile manufacturing, Gionee will be launching several new models for Nepali consumers in 2016.</p>

<p><span style="font-size:16px"><strong>Mahindra XUV500 Most Appealing</strong></span><br />
In an India based car survey, India&#39;s leading utility vehicle manufacturer, Mahindra &amp; Mahindra&#39;s XUV500 has taken top spot. The JD Power 2015 India Automotive Performance, Execution and Layout (APEAL) Study ranked the car the highest in its survey. For the fourth consecutive year, the exterior styling gained more importance in vehicle appeal, making it among the top three categories for driving the overall APEAL score.</p>

<p>According to the press release, the buyers of new models cite attractive vehicle styling as the most influential reason for purchase compared with buyers of carry-over models. &quot;New-vehicle buyers in India have a much wider range of vehicles to choose from than in the past. Automakers launch several models across segments each year, refining exterior styling and offering more safety, security and convenience features to keep customers engaged and excited,&quot; said Mohit Arora, executive director at JD Power, Singapore. The Appeal study also reveals that the demand for several features like in Audio, Entertainment, Navigation (AEN) and safety, the driving convenience have increased in 2015.</p>
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			'title' => 'Banking Activities January 2016',
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			'short_content' => 'Bank of Kathmandu (BoK) Ltd has opened a new branch in Bellauri, Kanchanpur. Nepal Rastra Bank Deputy Governor Maha Prasad Adhikari inaugurated the branch amidst a function. BoK now has a total of 51 branches. This comes as part of the bank’s second partnership with the Sakchyam Access to Finance programme to open new branch offices in rural and semi-urban market segments in the mid and far-western districts of Nepal.',
			'content' => '<p><span style="font-size:16px"><strong>BoK now at Kanchanpur</strong></span><br />
Bank of Kathmandu (BoK) Ltd has opened a new branch in Bellauri, Kanchanpur. Nepal Rastra Bank Deputy Governor Maha Prasad Adhikari inaugurated the branch amidst a function. BoK now has a total of 51 branches. This comes as part of the bank&rsquo;s second partnership with the Sakchyam Access to Finance programme to open new branch offices in rural and semi-urban market segments in the mid and far-western districts of Nepal.</p>

<p>Speaking at the event, bank CEO Ajay Shrestha said that the bank is committed to improving access to finance in rural parts of the country. &ldquo;Opening the Bellauri branch is aligned with our objective of providing better access to financial products to the people of the region who are already benefiting from the Sakchyam Sana Kisan Ukhu Karja programme,&rdquo; said Sakchyam Team Leader Baljit Vohra.</p>

<p>Sakchyam is an access to finance initiative funded by UK Aid and is implemented by Louis Berger for DFID Nepal in partnership with local and international partner institutions.</p>

<p><span style="font-size:16px"><strong>Citizens on IPS</strong></span><br />
Citizens Bank International (CBIL) has been included in the country&rsquo;s Interbank Payment System (IPS) after signing a MoU with Nepal Clearing House (NCHL). CBIL Deputy Chief Executive Officer Ganesh Raj Pokharel and NCHL CEO Nilesh Man Singh signed the deal.</p>

<p>Now CBIL customers will be able to make transactions with NCHL member banks and financial institutions. The bank said the transactions will be secure, easy, fast, inexpensive and reliable.</p>

<p><span style="font-size:16px"><strong>Global Bank New Branch at Besisahar</strong></span><br />
Global IME Bank&rsquo;s newest branch has come into operation at Besisahar of Lamjung. The branch was inaugurated by NRB Governor Dr. Chiranjibi Nepal. The bank now has 89 branches, six extension counters, 10 revenue collecting counters, 93 ATMs, 39 branchless banking outlets.&nbsp; &nbsp;</p>

<p><span style="font-size:16px"><strong>Himalayan Bank helps New Children Homes</strong></span><br />
Himalayan Bank has helped the New Children Homes (NCH) located at Hattigauda, Kathmandu. Under the bank&rsquo;s CSR activities, the bank provided clothes and food items to 30 children of NCH. The bank&rsquo;s General Manager, Susil Joshi handed over the goods, according to a press release issued by the bank.&nbsp; &nbsp;</p>

<p><span style="font-size:16px"><strong>Himalayan Bank Starts Electronic Payments</strong></span><br />
December 10, 2015. Nepal Clearing House Ltd. and Himalayan Bank Ltd. have agreed to start inter-banking electronic payments. Chief Executive Officer of Nepal Clearing House, Nileshman Singh Pradhan and Chief Executive Officer, Asok Kumar Jawara, of Himalayan Bank signed the agreement.</p>

<p>According to the bank&rsquo;s press release, dividends, premiums, social security payments, remittances, bills, among others can be paid through the system.</p>

<p>The company has already signed similar agreements with Citizens Bank and Goodwill Finance Company. The company plans to expand the payment system to other BFIs in the future.</p>

<p><span style="font-size:16px"><strong>Global IME Opens in Far-western Region</strong></span><br />
Global IME Bank has started new branchless banking services at three locations in the Far-western region in collaboration with Sakshyam Access to Finance.&nbsp; The service has been opened at Deulek-3 and Khochlek of Baitadi district, Alital-5, Mastmandau and Sakail of Dadeldhura district, areas normally cut off from banking services. The bank has appointed Haris Karki, Tejraj Bhatta and Suresh Shahi as its business representatives for Deulek, Alital and Mastmandau respectively. &nbsp;</p>

<p>Global IME had already opened two extension counters and three branchless banking outlets in Baitadi and Dadeldhura districts to provide financial services to the people of the Far-west region.&nbsp; The branchless banking service includes facilities for depositing money, dispensing cash, recharging mobiles and transferring money from personal accounts.</p>

<p><span style="font-size:16px"><strong>Mega Bank Launches &lsquo;Mega Visa Credit Card&rsquo;</strong></span><br />
Mega Bank has brought into operation a new product called Mega Visa Credit Card for its customers from December 16. The card can be used in both domestic and international markets, according to a press release from the bank.</p>

<p>Similarly the bank has introduced Mega Visa Travel Card for its customers travelling abroad. The card can be used the world over, said the bank which has already launched Mega Visa Debit Card. &nbsp;</p>

<p>&ldquo;With its association with international brand of VISA Cards, the Bank&rsquo;s Card network has expanded further and even though the Bank has launched Mega Visa Card Products, the customers can still enjoy the benefits of SCT Card in the SCT network,&rdquo; said the press release. With 29 branches across the country, Mega Bank is currently operating its own 32 Mega Money Machines (ATMs) - 14 inside and 18 outside the Kathmandu Valley.</p>

<p><span style="font-size:16px"><strong>Sanima Starts Online Payment</strong></span><br />
Sanima Bank has now started online payment services. The service enables customers to make online payments for international exams like TOFEL, IELTS, GMAT, etc. Currently, the service is available at the bank&rsquo;s Naxal and Baneswor branches.</p>

<p><span style="font-size:16px"><strong>Metro Development Bank Celebrates 7 years</strong></span><br />
With its head office at New Road, Pokhara, Metro Development Bank recently celebrated its 7th anniversary. To mark the occasion, the bank organised a blood donation programme with a total of 29 units of blood being collected, informed bank CEO Surya Prasad Tiwari. The bank, as of October 2015, had collected Rs 2.17 billion in deposits and given out loans of Rs 1.79 billion. Furthermore, the bank has agreed to merge with Kailash Development Bank.</p>

<p><span style="font-size:16px"><strong>NIC ASIA Supports Orphans of Namuna Bal Griha</strong></span><br />
NIC Asia Foundation, a charity wing of NIC Asia Bank, donated Rs 204,000 to the Namuna Bal Griha orphanage in Urlabari, Morang amidst a function held on Dec 1.</p>

<p>&nbsp;Over the years, the Foundation has been providing scholarships to disabled and orphan children in the region. It has also been providing support to the children by organising free health services, blood donation progammes, constructing old age homes and emergency medical facilities for the needy. &nbsp;</p>

<p><span style="font-size:16px"><strong>Nabil Hands Cheque to Community School</strong></span><br />
Nabil Bank has donated Rs 120,000 to Shree Gagri Kanya Gurukul Academy for the education of girls. The bank said it was fulfilling its CSR activities by continuing its assistance which started three years ago. The bank CEO Sasin Joshi handed the cheque to the Academy. The academy is dedicated to the educational development of girls from different communities.</p>

<p><span style="font-size:16px"><strong>Siddhartha and Deva Sign Remittance Deal</strong></span><br />
Siddhartha Development Bank Ltd (SDBL) and Deva Bikash Bank (DBB) Ltd have entered into a remittance agreement. The agreement is expected to expand the services of SDBL Trust Remit. SDBL CEO Ajaya Kumar Mishra and DBB CEO Bijay Bahadur Shrestha signed the agreement on behalf of their respective banks. With the agreement, customers of DBB can send and receive remittance from all branches of DBB through SDBL Trust Remit.</p>

<p><span style="font-size:16px"><strong>Business Universal now at Phursyang</strong></span><br />
Business Universal Development Bank has opened a new branch at Phursyang of Kaski. The branch was inaugurated jointly by senior educationist Heramba Prasad Koirala and bank president Milan Kumar Baidya on Dec 11. The bank will soon open another branch at Old Baneshwor.</p>

<p><span style="font-size:16px"><strong>Sunrise in IPS</strong></span><br />
Sunrise Bank has been included in the country&rsquo;s Interbank Payment System (IPS) after signing a MoU with Nepal Clearing House (NCHL). The CEO of Nepal Clearing House Nilesh Man Singh Pradhan and Sunrise Bank&rsquo;s CEO Ratna Bajracharya signed the agreement.</p>

<p>The bank said its customers will be able to make transactions with NCHL member banks and BFIs.</p>

<p><span style="font-size:16px"><strong>Sunrise Bank Helps Youth Centre</strong></span><br />
Sunrise Bank, on the occasion of International Disabled Day, has provided assistance to the Nawa Jyoti Centre of Baluwatar, Kathmandu. Under its CSR activities the bank donated two sets of electric water dispensers and also distributed fruits and food items to the children studying at the centre in a programme attended by the bank&rsquo;s CEO Asha Rana Adhikari. &nbsp;</p>

<p><span style="font-size:16px"><strong>City Development Approves Merger</strong></span><br />
The 9th AGM of City Development Bank has approved the merger proposal with Om Finance which has its head office at Pokhara.</p>

<p>The bank, till mid July, had collected deposits of Rs 5.6 billion and invested Rs 4.16 billion as loans, as the bank earned Rs 240 million in operational profits. The bank also elected Rajendra Kumar Bataju as chairman of the bank in a meeting held after the AGM.&nbsp; &nbsp;</p>

<p><span style="font-size:16px"><strong>Everest, Ace Join IPS</strong></span><br />
Everest Bank Ltd has signed an agreement with Nepal Clearing House Ltd (NCHL) for Inter Bank Payment System (IPS). Chief Executive Officer of Everest Bank, AK Ahluwalia and Neelesh Man Singh Pradhan, Chief Executive Officer of the NCHL, signed the agreement on Dec 19.</p>

<p>Similarly, Ace Development bank has also joined the IPS. On the same day, Suyog Shrestha, Chief Executive officer of Ace Development Bank and Neelesh Man Singh Pradhan, CEO of NCHL, signed the agreement regarding IPS. With the NHCL -IPS system, customers of bank have privilege to interbank payment and fund transfer. Similarly, this system helps in transferring money, dividend payment, IPO- refund, remittance service and any kind of payments and receipts, according to a press statement.</p>

<p><span style="font-size:16px"><strong>Mega Bank Branchless Banking in Dang</strong></span><br />
Mega Bank Nepal Limited in continuation with expanding the bank&rsquo;s Branchless Banking Service, has initiated two more Branchless Banking (BLB) Services from Duruwa and Manpur VDCs of Dang district. As per the Chief Executive officer of Mega Bank, Anil Keshary Shah, the Branchless Banking Service has been established for the convenience of the people in the rural areas with a vision to provide them financial empowerment through financial inclusion. With the support of Sakchyam Project this year the bank aims to establish 30 new Branchless Banking Service outlets in the far western regions as well as in many districts of Nepal.<br />
&nbsp;<br />
<span style="font-size:16px"><strong>BoK, Lumbini Bank Sign Merger Deal</strong></span><br />
Bank of Kathmandu (BoK) and Lumbini Bank Ltd have entered into a Memorandum of Understanding (MoU) for a merger. The MoU was signed on Dec 24, 2015 by Satya Narayan Manandhar, Chairman of BoK and Prof Hem Raj Subedi, Director of BoK and Prakash Shrestha, Chairman of Lumbini and Subarna Lal Shrestha, Director of Lumbini Bank.</p>

<p>After the merger, the new bank will become Bank Of Kathmandu Lumbini Ltd. The swap ratio of the BoK and Lumbini Bank has been agreed at 1:0.8281. However, it is subject to regulatory clearance and approval of shareholders meetings of both the banks. The merger is planned to be completed within the current fiscal year.</p>

<p>Both the banks have entered into MOU with their plan to meet the minimum capital requirement within the financial year 2016/17 as stipulated by the Nepal Rastra Bank. The paid up capital of BoK for fiscal year 2014/15 was Rs.2.12 billion which will be increased to Rs.2.67 billion after the approval of proposed bonus shares. Similarly, the paid up capital of the Lumbini Bank Ltd. for the fiscal year 2014/15 was Rs.2 billion which will be increased to Rs.2.30 billion after the approval of the proposed bonus shares.</p>

<p><span style="font-size:16px"><strong>Siddhartha, Ekata and Nepal Aawas Merge</strong></span><br />
Kathmandu based National Level Siddhartha Development Bank Limited (SDBL), Butwal based Regional level Ekata Bikas Bank Limited (EKBL) and Nepal Aawas Finance Ltd. (NABB)&nbsp;&nbsp; have signed a Memorandum of Understanding (MoU) to enter into a merger.</p>

<p>&nbsp;Ram Bahadur Bhandari, board member of SDBL, Khim Nath Sharma, board member of EKBL, and Khem Raj Pant, board member of NABB signed the agreement on Dec 22. The merged entity will be called Siddhartha Development Bank Ltd. The joint operation is scheduled to start from March 2016. According to the agreement, the Chairman and the post of the CEO of the merged entity will be from Siddhartha Development Bank.</p>

<p><span style="font-size:16px"><strong>Vibor Bikas, Society Development Bank to Merge</strong></span><br />
Vibor Bikas Bank Ltd. (VBBL) and Society Development Bank Ltd. (SODBL) have signed a Memorandum of Understanding (MOU) to merge. The chairman of both banks, Mohan Das Manandhar from VBBL and Sushil Raj Parajuli from SODBL signed the MoU on Dec 23. The merged entity will be named Vibor Society Development Bank Ltd. The merger is set to happen by June 2016. After the merger the paid up capital of the merged entity will be Rs 1.81 billion, deposits will amount to Rs 11 billion and loans to Rs 9 billion.</p>

<p><span style="font-size:16px"><strong>Sunrise, Prabhu Sign Remittance Deal</strong></span><br />
Sunrise Bank Limited has signed an agreement with Prabhu Money Transfer to establish remittance services. Issuing a statement, Assistant General Manager of Sunrise Bank Rabin Nepal and Prabhu Money Transfer Deputy General Manager Rameshwor Sapkota signed the agreement on behalf of their respective companies. Following the agreement, all branches and counters of Sunrise Bank will be providing services to the clients of Prabhu money transfer. The agents of Prabhu money transfer can directly deposit money in the Sunrise bank account.</p>

<p>&nbsp;</p>
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			'id' => '1401',
			'magazine_issue_id' => '957',
			'magazine_category_id' => '26',
			'title' => 'South Asia’s Vital Need for Electricity',
			'image' => '20160121125623_ep3.jpg',
			'short_content' => 'South Asia is home to over one billion people. A majority of them are living without access to electricity. Electricity is an essential prerequisite not only for modern life but also to power machines to produce goods and services. Modern technology is based on the availability of electricity. ',
			'content' => '<p><strong>--By Prof Dr Kamal Raj Dhungel</strong></p>

<p>South Asia is home to over one billion people. A majority of them are living without access to electricity. Electricity is an essential prerequisite not only for modern life but also to power machines to produce goods and services. Modern technology is based on the availability of electricity. Most of the South Asian countries obtain power from both non-renewable sources such as nuclear, coal and natural gas and from renewable sources such as hydro, solar and wind power. &nbsp;Both these sources to some extent are home-grown. All countries in the region are endowed with one source or another. &nbsp;Coal is available in India. Bangladesh and Pakistan are rich in natural gas, so is Nepal and Bhutan in hydropower. There is a golden opportunity to produce electricity from these indigenous sources.&nbsp;</p>

<p>Among the potential sources, coal is highly exploited and has remained a major source of power for nearly a century and is expected to remain the same in the days to come. Hydro and natural gas remain untapped. They are yet to be exploited. These resources, if developed wisely, would be a boon for the development of South Asian countries. It would provide ample opportunity for South Asian countries to exchange power with each other plugging a particular country&rsquo;s demand and supply gap. It would help to ensure energy security and provide scope for regional market integration. Also, almost all the countries have HEP potential, but to some extent the degree of availability varies. This represents a renewable source of energy.&nbsp;</p>

<p>Obtaining a higher economic growth rate to the extent of it being in the double digits is the primary goal of the South Asian countries. However, double digit growth rate requires huge units of electricity. Presently, this is constrained by inadequate power supply. Thus, the goal is conditional upon an adequate and uninterrupted power supply. Electricity consumption and economic growth are closely interrelated. This article aims to investigate the causal relationship between economic growth and electricity consumption in five countries of the region.&nbsp;</p>

<p><span style="font-size:16px"><strong>Hydropower Potential</strong></span><br />
Like natural gas, the region&rsquo;s economic hydropower potential remains untapped. The South Asian region is fortunate to have such &nbsp;vast hydropower potential, a renewable and non-polluting source of energy. &nbsp;Most of this remains untapped. The region is able to harness 28 GW (table 1). The countries of the South Asian region are energy starved on the one hand and they are not able to harness their vast potential resources on the other hand. They are importing petroleum products from gulf counties in order to achieve targeted economic growths. In the process, pollution is created in the atmosphere a stimulating factor for climate change. Thus, in the light of this, the benefits of exploiting hydropower is manifold. &nbsp;It facilitates to a) utilise the region&rsquo;s untapped resources, b) ensure energy security, c) hold energy trade across the regional countries, d) create an environment to integrate the regional market, e) reduce the import bill of petroleum products and f) reduce greenhouse gas emissions.&nbsp;</p>

<p><img alt="" src="/userfiles/images/ep%2820%29.jpg" style="height:352px; margin-left:10px; margin-right:10px; width:700px" /></p>

<p><img alt="" src="/userfiles/images/ep1%2811%29.jpg" style="height:176px; margin-left:10px; margin-right:10px; width:700px" /></p>

<p><span style="font-size:16px"><strong>Electricity Production</strong></span><br />
Five countries in South Asia produce 1374.693 billion KWh of electricity. Coal is the major source of electricity. It accounts for more than 52% of total electricity production. The share of hydro, natural gas and renewable energy to total electricity production is 12.22%, 12.83% and 16.03% respectively. India alone produces 86.1 percent of the total followed by Pakistan (9.01%), Bangladesh (3.1%), Sri Lanka (1.2%) and Nepal (o.48%) (table 2).&nbsp;</p>

<p><span style="font-size:16px"><strong>Development Indicator</strong></span><br />
Electricity is a major source of power. A nation&rsquo;s economic activity depends on its availability. Per capita electricity consumption, in modern usage, is taken as one of the measuring rods of development. Higher per capita electricity consumption shows a better development of a nation. The per capita electricity consumption of selected countries is given in table 3. India has the highest per capita electricity consumption (684 KWh) indicating it to be a relatively more developed country in the South Asian region. The second highest is in Sri Lanka with a per capita electricity consumption of 490 KWh followed by Bangladesh (259 KWh), Nepal (106 KWh) and Pakistan (49 KWh). &nbsp;</p>

<p><span style="font-size:16px"><strong>Economic Growth Stimulator</strong></span><br />
As mentioned earlier, the countries of South Asia are trying to achieve double digit economic growth. This requires huge units of electricity and higher electricity consumption is a measuring rod for higher levels of economic development. It indicates that a one percent increase in electricity consumption would increase the economic growth rate by 1.31 percent. This clearly reveals that a unit change in electricity consumption would change the GDP by more than a unit. The EEC for individual countries is also estimated. In the case of Bangladesh the EEC is 0.81, which is less than one, which reveals that a 1% increase in electricity consumption would lead to an increase in the economic growth by 0.81%. For the rest of the countries a 1% increase in electricity consumption would lead to an increase in the economic growth by more than 1%, the highest in Pakistan and lowest in Nepal (table 4).&nbsp;</p>

<p><img alt="" src="/userfiles/images/ep2%2810%29.jpg" style="height:269px; margin-left:10px; margin-right:10px; width:700px" /></p>

<p><span style="font-size:16px"><strong>All for One, One for All</strong></span><br />
India alone produces 86% of electricity and in turn commands the highest consumption. The per capita electricity consumption (684 KWh) represents the highest in comparison to the sampled countries of the South Asian region. The second highest is in Sri Lanka with a per capita electricity consumption (490 KWh) followed by Bangladesh (259 KWh), Nepal (106 KWh) and Pakistan (49 KWh).&nbsp;</p>

<p>An estimation of the electricity elasticity coefficient reveals that a proportionate change in electricity consumption would lead to change in the economic growth rate by more than a proportion. It clearly reveals that South Asia&rsquo;s economic growth rate is electricity dependent. Thus, in the light of this, South Asian countries must mobilise their resources together to produce electricity and to, furthermore, trade in energy to supply surplus energy to the needy.</p>

<p style="text-align: right;"><em>The author is retired Professor of Economics, Tribhuvan University</em></p>
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			'title' => 'Remittance : A Blessing and a Curse',
			'image' => '20160121125912_ep4.jpg',
			'short_content' => 'Running a country through remittances can be an easy way to move ahead, but it comes with a price. Every day, 1500 Nepalis fly out from Tribhuvan International Airport for jobs abroad. The decade-long Ten years of insurgency made large numbers of young people go abroad and now, again,..',
			'content' => '<p><strong>--By Dwaipayan Regmi</strong></p>

<p>Running a country through remittances can be an easy way to move ahead, but it comes with a price. Every day, 1500 Nepalis fly out from Tribhuvan International Airport for jobs abroad. The decade-long Ten years of insurgency made large numbers of young people go abroad and now, again, the slow economic growth rate and rising unemployment has made staying in the country even more difficult and a choice generally avoided by Nepal&rsquo;s young generation. The devastating earthquake again acted as another reason to go abroad. The recent blockade by India has also certainly created huge pessimism among the youth, giving them a further reason to leave the country, or make plans to do so.</p>

<p>Almost 56 percent of households are receiving some sort of remittance one way or the other in Nepal. The remittance senders fly abroad, when they don&rsquo;t see any possibility in Nepal, willing to be away from their families and ready to do the 3Ds (Dirty, Danger and Difficult) jobs, making Nepal one of the highest recipients of remittances.</p>

<p>The craze for international jobs already had a certain appeal and was a matter of prestige even before the massive earthquake, blockade and weak job prospects. &#39;Nothing can be done living here&#39;, is a mantra often repeated by the youths time and again. But it is also evident that, when people go abroad, the country profits hugely. The profit maybe short term and economical, but there are several things that go away as well. Primarily, there&rsquo;s the Brain Drain issue. The country loses its skilled manpower and the host country benefits from a Brain Gain. Next is the Flow of Money, because it is not as if the host country invites them with open arms. The job seeker has to spend money to go abroad.&nbsp;</p>

<p>We don&rsquo;t have good international aeroplanes, so the money from plane tickets goes out of the country. Even if a person spends 50 thousand, every day around 75 million flows out. Remittances over all, makes a country dependent.</p>

<p>However, will remittance develop a nation? The question is open for debate and yet many remain silent on the issue.&nbsp;</p>

<p>Nepal is a country where political instability is a major issue. If one political party is disgruntled, they call for a banda, ignoring the welfare of the general public. It is a depressing fact that Nepalis are going through the 4Ds (Detention, Depression, Deportation and Death) abroad yet through their efforts, the country is able to set a budget.&nbsp;</p>

<p><img alt="" src="/userfiles/images/ep5%284%29.jpg" style="height:375px; margin-left:10px; margin-right:10px; width:700px" /></p>

<p>Remittance has increased the living standards of families in the home countries. Today, almost everyone in Nepal carries a mobile. Not just in towns and cities, but even in the villages. It has also helped to reduce poverty in the country. Remittances have been contributing in currency appreciation as well.&nbsp;</p>

<p>In any country, remittance contributes to economic development and Nepal is no exception here. For any developing country, remittance has been a blessing. However, no country can depend on remittance for a long period of time, and it is no way a long term solution. Remittance is only for the short term.</p>

<p>If properly utilised, there is ample opportunity for it to work. A husband sends a certain amount to his wife and children. If the wife invests it in some productive sector, it could bring a positive impact and further contribute to economic well being. Maybe, the wife&rsquo;s investment could bring her husband back one day. A country can never develop depending completely on remittance. There are billions of dollars entering the country in the name of remittance, but not more than six percent has been utilised in capital investment.</p>

<p>Where is the money going? That should be a matter of huge concern to the government. They need to be taught the skills that will help them to be independent; they need to be taught to live their lives on their own. They need to be showed, how by agriculture, they can call their dear ones back home. It is practically impossible for the government to stop people going to work abroad, and morally unwise as well. However, if agendas like &lsquo;Entrepreneurship by 2030&rsquo; could be brought ahead, it would help to some extent.&nbsp;</p>

<p>One serious impact of remittance is that it discourages investment within the country. People start being dependent upon remittance instead of concentrating on doing something on their own. Gradually the nation will become a victim itself. A sudden halt in remittance can lead to a huge financial crisis. Remittance again encourages migration because in sending money home, neighbours or relatives will want to send their children abroad seeing the improvement in the standard of living.</p>

<p>Consequently, remittances are good for the short term, but we should not completely depend on it. Qatar- which will be hosting the World Cup soon- has made such huge long term progress by using Nepali labour. We are happy with remittances and they (Qatar) are happy about their development- hence the questions arise, short term happiness or long term happiness?</p>

<p>From Abu Dhabi and the airports of the Middle East, to the dhabas of Kerala, Nepali youths have been working to send their hard earned money home. However, at one point, these youths will return home, adding to the &#39;youth bulge&#39; in Nepal.&nbsp;</p>

<p>From marriages to buying a new smart phone, Nepali migrant workers have been sending money home. However, this money will be used in the productive sectors only if attractive schemes are introduced.</p>

<p>There have to be solutions prepared for the long term and there has to be respect created for every individual who flies abroad. It is not our finance minister, who makes the country&rsquo;s economy strong; rather it is these unemployed youths who are queuing up at the airport, ready for 3D jobs and 4D situations that shape our economy!</p>

<p style="text-align: right;"><em>The writer is an MBA student at JNTU(A), Andhra Pradesh, India.</em></p>
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			'short_content' => 'Developing a career when one has crossed their forties could look like an impossible task. The case becomes even more acute when you have been jobless at this age and can’t find anyone who will hire you. Under such conditions, even being a professional with expertise doesn’t seem to help you. These conditions are more acute and suffocating, if the individual is a woman and member of a patriarchal society like ours',
			'content' => '<p style="text-align: center;"><em>Kamala Giri (left) and Sushila Bhuju making papercrafts at their workshop in Chamasingh, Bhaktpaur</em></p>

<p><strong>--By Shrijana Tha Shrestha&nbsp;</strong></p>

<p>Developing a career when one has crossed their forties could look like an impossible task. The case becomes even more acute when you have been jobless at this age and can&rsquo;t find anyone who will hire you. Under such conditions, even being a professional with expertise doesn&rsquo;t seem to help you. These conditions are more acute and suffocating, if the individual is a woman and member of a patriarchal society like ours. Against these odds, five women in Bhaktapur successfully got their professional lives back on track.</p>

<p>Kamala Giri, Sunita Bhuju and Sulochana Dulalare are paper craft artisans formerly associated with a once burgeoning and now defunct paper industry, Bhaktpaur Craft Paper Industries. These women worked for around two decades in this industry- during which they received training from national and international paper craft artisans, some of which were funded by international development organisations like UNICEF. Life was going easy for them until the day the industry decided to close down around 2013. Along with their colleagues, these women were left jobless in their late forties. Though they were skilled in making paper crafts, they could not find an employer who would could bring their skills into use and give them a job.</p>

<p>In their desperation, some of them started working for a former colleague on a commission basis. However, things were not going as they expected initially- the colleague was depriving them of their percentages by faking the sales value, ultimately forcing them to quit the informal partnership they were in. Some months later, while all of them were wondering how they could make a living, Bimal Gosai, a Nepali resident living in Germany, came on the scene. A Civil Engineer by profession, he was interested in their stories and realised that these women could start all over again. Thus began a round of discussions among these women and their families. Three months later, with the support of the families, they established the Bhaktapur Women Craft Paper Pvt. Ltd. The struggles were immense but the path began to come clear very soon. Now they are owners of a promising and thriving paper craft industry &ndash; which is their own.</p>

<p>Their case is interesting &ndash; considering the fact they were women in their late forties, modestly educated, members of the lower middle class which is characterised by women centred socio-cultural taboos, lack of investment capital and above all by a lack of knowledge in running a business. So, this article tries to explore the ways and methods through which they overcame these hurdles and regained their lost professional dignity.</p>

<p><span style="font-size:16px"><strong>Innovative Marketing&nbsp;</strong></span><br />
Business is basically about demand and supply. With over three decades of experience in the industry, these women had all the expertise required to ensure the production of quality paper crafts but they lacked access to production resources together and marketing skills to sell the product. This is where they adopted the modern trend and got onboard with a tech savvy manager &ndash; Bimal Gosai. Gosai, though a civil engineer by profession, says that he was instantly interested in the proposal when Sulochana approached him about the business.&nbsp;</p>

<p>&ldquo;Despite having life long experience in making paper crafts, we were not proficient in marketing skills,&rdquo; Giri, one of the eight partners, said adding that when she first met and shared how they had become jobless, Sulochana said they could have their own paper craft business. &ldquo;After multiple rounds of discussions, we ultimately brought together paper craft and marketing professionals. Our traditional production methods and information technology oriented marketing methods, helped us in setting foot in the industry.&rdquo; The business has been extensively using online marketing tools &ndash; including social media and advertising, to reach out to new clients.&nbsp;</p>

<p><span style="font-size:16px"><strong>Authentic Business Aspects&nbsp;</strong></span><br />
Even in this plastic age, authentic products have their own charm. While mass production caters to the utilitarian needs of mass consumerism, handmade products are still a choice for those who can afford to pay and above all who share the passion for authenticity. Bhaktapur Women Craft Paper products cater to the aspirations of the latter. It has limited itself to a select few authentic Nepali products that are produced from home grown raw materials.&nbsp;</p>

<p>Ranging from Lokta paper, peach shells, bamboos to ink dyes made using indigenous methods and raw materials, the products render a Nepali feel. In first world nations, where consumers stress more on organic and authentic products, these products have been received very well. Though their customer base in these countries is still small compared to such other Nepali industries, it nevertheless has been gradually gaining a foothold in the highly competitive market by ensuring authenticity of its products.&nbsp;</p>

<p><span style="font-size:16px"><strong>Socially Responsible and Locally Embedded&nbsp;</strong></span><br />
An important aspect of business that relies on evoking human compassion for selling products is being socially responsible and locally embedded. These aspects add value to the authenticity of the products. Every consumer feels good to spend an extra buck on a product, if they realise that some portion of the prize would be given to humanitarian causes. Along with that, such aspects assist in uplifting the status of the business towards a social development entity - that stresses more on earning a just living rather than making profit.&nbsp;</p>

<p>As part of its social responsibility, Bhaktapur Women Craft Paper organises paper craft trainings for local women, especially for widows, and the destitute. &ldquo;Sharing your knowledge and enabling them to earn a living for themselves is an important humanitarian effort. I know its value because whatever I am today is because someone did that for me,&rdquo; Sunita Bhuju, another of the partners, said adding that by organising such trainings they wanted to enable more women in the locality to live a dignified life. Along with that, branding it using the name of the city, she feels, helps the business in localising its roots. &ldquo;It is this city that basically is common to us and the business. We grew up here and this is where our business is growing,&rdquo; Sulochana Dulal, another partner in the business, said while elaborating on the underlying argument of their branding strategy.</p>

<p><span style="font-size:16px"><strong>Global Business&nbsp;</strong></span><br />
A market is very crucial for growing a business and in the paper craft industry, having international customers is an important aspect. This organisation has its major customer base in the US besides other European countries. Its clients have been assisting their growth by linking them with craft buyers and dealers and by providing them with investment to grow their business and improve the quality of their products. Thus, even though they are a local industry, their reach and well wishers are expanding globally. And this is possible only if entrepreneurs have a global thinking.&nbsp;</p>

<p>&ldquo;Our customers live on other side of the planet. And though they have a different way of life and doing business, they too share with us the underlying principles of humanity,&rdquo; Bimal Gosai, the marketing manager at the firm said while elaborating on the customer relationship strategy. &ldquo;We share our success and our shortcomings with our clients. This makes them feel that they are dealing with humans who like them are doing business to earn a honest living,&rdquo; he said, adding that one of their clients helped them in expanding their business and helped to reopen their damaged office which was destroyed by the earthquake.&nbsp;</p>

<p><span style="font-size:16px"><strong>Open Minded Team&nbsp;</strong></span><br />
One of the great assets in partnership businesses is having like minded and understanding team members who stress on a common good. This has been a crucial factor in Bhaktapur Women Craft Paper&rsquo;s success. Having worked together for over two decades, these partners know each other well and some even have family ties. This underlying understanding has helped them work together for the growth of the business.&nbsp;</p>

<p>&ldquo;We have our differences but we have always resolved them through understanding and open minded discussions,&rdquo; Giri said. As part of their efforts to keep the team strong, they all work on a salary basis and have a dedicated accounts manager to look after the accounts. &ldquo;We all have gone through the worst professional crisis in our life. This is our only chance to continue living a dignified life so we all make sure that we resolve our personal differences through open discussions and continue contributing to the growth of the business.&rdquo;&nbsp;</p>

<p>Though established nearly a year ago with an initial investment of Rs 300,000, Bhaktapur Women Craft Paper has done business worth Rs two million this year alone. Though its partners are glad about the success, they have bigger plans up their sleeves. Buoyed by the success they are presently investing their earnings in the business and striving hard to establish themselves as a fair trade business. Their spirit is a reminder to all women and men, who try to point to age or lack of resources, as an excuse for not starting their own business. These seasoned women prove the point that it is never too late to start something new, something meaningful, and something dignified &ndash; if one is committed to the cause.</p>

<p><em>The writer is a social researcher and development enthusiast. She is presently associated with Social Welfare and Support Organization Nepal (SWASON) &ndash; a Kailali based non-profit group as its vice president and can be reached at shrijana.shrestha12@ gmail.com</em></p>
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			'title' => '“My challenge is to regain the reputation of NPC”',
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			'short_content' => 'We have to consolidate our expenditure programme; the trend so far is to spread the budget thinly over all places. Many programmes are duplicated and many overlaps happen between the jurisdictions of the different ministries. The roads are duplicated, i.e. they are in multiple entries everywhere and thus, when to complete and who does it always remains a question. ',
			'content' => '<p style="text-align:center"><span style="font-size:16px"><strong>Dr Yuba Raj Khatiwada&nbsp;</strong><br />
Vice-chairman<br />
National Planning Commission (NPC)</span></p>

<p><em><span style="font-size:16px">Dr Yuba Raj Khatiwada is the new vice-chairman of the National Planning Commission (NPC), appointed to the post by the KP Oli government on Nov 4. This is the second time that Dr Khatiwada has been appointed to the post. He served as NPC vice-chairman from June 2009 to March 2010 before his appointment as the 15th governor of Nepal Rastra Bank (NRB), the country&rsquo;s central bank. He served at the NRB for five years until March 2015. In an interview with Akhilesh Tripathi of New Business Age, Dr Khatiwada talked about his plans and priorities, NPC&rsquo;s restructuring and the challenges he faces as the new NPC vice-chairman. Excerpts:</span></em></p>

<p><span style="font-size:16px"><strong>It&rsquo;s been more than a month since you took over the reins at NPC. Have you set your priorities?</strong></span>&nbsp;<br />
I have joined NPC at a time when there are various internal as well as external challenges. India&rsquo;s unofficial blockade is an external challenge. The internal problem is I have been appointed as the lone member of the NPC in the form of its vice chairman. I have also been given the role of managing the Reconstruction Authority which is another challenging task. Although at the moment I am more occupied with reconstruction activities by facilitating the programmes, coordinating with the donors and mobilizing non-governmental organisations, I have not lost my focus on restructuring NPC and its agenda. I would particularly like to mention a couple of things that I want to do during my stay at NPC. The first is preparing the next periodic plan as the current fiscal year is the terminal year of the current three-year periodic plan. Preparing the next plan is challenging from various aspects. The country has adopted a federal governance system. So development has to be planned at the central, provincial and local levels. Similarly, in the month of September 2015, we endorsed the sustainable development goals under the UN umbrella which is very challenging, ambitious and comprehensive. These goals have to be embedded in our planning, programming and budgeting process. And we also have to develop the strategy and the operating framework to implement the sustainable development goals at different levels of government.</p>

<p>The third thing is expediting the ongoing activities which are budgeted for this fiscal year. We have not been able to expedite development programmes because of the ongoing blockade. We have not been able to review previous year&rsquo;s programmes also. So one of my tasks would also be to see that if the monetary framework is in its place and whether it can expedite the capital expenditure.</p>

<p>The fourth thing is to see how we can cope with the macroeconomic challenges posed by the earthquake followed by the blockade. If we don&rsquo;t have our macroeconomic parameters rightly in place, perhaps we will lose the momentum in the long run.</p>

<p><span style="font-size:16px"><strong>The main function of the NPC is to advise the government on formulation of periodic plans and the annual budget. And this is your second stint at NPC. What are the areas where you would like the government to plan more and spend more?</strong></span><br />
We have to consolidate our expenditure programme; the trend so far is to spread the budget thinly over all places. Many programmes are duplicated and many overlaps happen between the jurisdictions of the different ministries. The roads are duplicated, i.e. they are in multiple entries everywhere and thus, when to complete and who does it always remains a question. The construction of local roads has been like passing a ball among various ministries. In addition, we don&rsquo;t have proper monitoring systems for the programmes that are implemented. In some programmes, we do have monitoring and evaluation systems, but we are not sufficiently equipped to properly monitor. So what I would like to do is consolidate the whole programme and see that they have enhanced credibility. Thus, our role would be to see only strategic development works and also make expenditure policy and monitor the progress.&nbsp;</p>

<p><img alt="" src="/userfiles/images/i1%2811%29.jpg" style="height:385px; margin-left:10px; margin-right:10px; width:700px" /></p>

<p><span style="font-size:16px"><strong>There has been a lack of coordination between the periodic plans and the annual budget. On occasions, the short term priorities of the annual budget don&rsquo;t match the long-term objectives of the periodic plans. How do you plan to address this?</strong></span><br />
It should not be the case as each ministry is given clear instructions before the budget programmes are proposed. What happens sometimes is that you have unexpected events or new events taking place and they need to be absorbed into the programmes.</p>

<p>For example, the roads to connect our northern borders. Nobody had thought that we need to construct these roads this year. We realized their importance only after the blockade. So these are some of the incidental things that a country must recognise and include in the planning process. But that should not be done on the cost of ongoing programmes and projects. The link between the periodic plans and anuual budget allocations is established through the medium term expenditure framework. Now we are also strengthening the medium term expenditure framework which exactly translates periodic &nbsp;plan into &nbsp; budgets for three years.&nbsp;</p>

<p><span style="font-size:16px"><strong>You mentioned about the northern roads. Does that mean the NPC is going to give more priority to such roads?</strong></span><br />
Of course. Our aim is to be linked to both north and south by establishing Nepal as a transit country in order to facilitate trade between India and China. Depending on a single country for trade is risky as has been proved now. So, roads linking to China are a priority for NPC now. &nbsp;</p>

<p><span style="font-size:16px"><strong>Given the massive earthquakes and India&rsquo;s unofficial blockade, what will happen to the government&rsquo;s plan of graduating Nepal to the league of developing countries by 2022? Can Nepal make it?</strong></span><br />
Obviously yes! Graduating to the group of developing countries is still possible. We thought we were going to meet the vulnerability index, one of the three criteria to graduate. But we never guessed that a natural disaster will hit us. We used to talk about only floods or droughts or some other crisis; we never thought about an earthquake. We lost schools, health posts and human resources in the earthquake. In the Terai, children have been prevented from going to school for months now. These are setbacks for our graduation efforts. &nbsp;Hundreds of thousands of people are likely to fall into absolute poverty because of the earthquake. Thus, our first parameter for graduation - per capita GNI - has been deteriorated. &nbsp;Technically, we can still graduate to the group of developing countries as we will be meeting the next two criteria. However, my question is, do we technically need to graduate or do we really deserve to be graduated? To me, technical graduation does not make much sense.&nbsp;</p>

<p><span style="font-size:16px"><strong>Some people ask if Nepal stands to gain from the graduation or will it just lose the privileges it is getting as an LDC?</strong></span><br />
The tag of LDC is something we want to get rid of politically. &nbsp;But there are some concerns that Nepal will lose some of its foreign assistance, trade incentives and access to international market might become tougher than now after graduating from LDC. However, there are some mechanism for the transition phase which the UN is working on at present. But for the fear of losing some of the incentives, &nbsp;we should not give up our plan to graduate.&nbsp;</p>

<p><span style="font-size:16px"><strong>The White paper issued by the government recently has shown that the government has a huge surplus in its coffers. But the White paper is silent on how is that going to be deployed. What is NPC planning for this money?</strong></span><br />
We have only around Rs 40 billion which is surplus for the current year&rsquo;s budget. In the first trimester, you have surpluses. This year most of the development projects are stalled because of fuel shortage created by the blockade. And some projects don&rsquo;t even have enough construction materials like cement, rods and others. In addition, we have power cuts. These issues also affect the government&rsquo;s development and construction plans. Since this government was formed only about two months ago, it needs to settle down in terms of investment and implementation.</p>

<p><span style="font-size:16px"><strong>Slow government spending and poor performance of the projects of national pride have emerged as two major problems. How does the NPC plan to make progress on these fronts?</strong></span><br />
I can give you some examples. The much needed Upper Tamakoshi hydropower project should have already been in operation but it has been postponed for yet another year. The access road to Tamakoshi is destroyed by the earthquake and it is estimated to take two-three months to clear the road. But when I ask to make it quicker, I am told that there is not enough fuel to run the excavator. At the moment, we are helpless even if we try our best. The best way to utilize this time is to prepare the documents and do the paperwork required for the implementation of the projects.&nbsp;</p>

<p>The Melamchi drinking water project is another example. It has problems arising because of contractors and sometimes it has management related problems. The case of many projects in the Terai is similar. It&rsquo;s not only the government but also the contractors who create hurdles in the smooth running of the projects.</p>

<p><img alt="" src="/userfiles/images/i2%282%29.jpg" style="height:384px; margin-left:10px; margin-right:10px; width:700px" /></p>

<p><span style="font-size:16px"><strong>Some people say that NPC is losing its relevance as the planner of the country&rsquo;s development. What&rsquo;s your opinion?</strong></span><br />
I don&rsquo;t disagree. People will always question the role of such institutions if they are not guided by principles and certain norms and keep on adding projects in the interest of various groups. My challenge is to regain the reputation of NPC. Now, NPC&rsquo;s role itself is changing because of the federal setup of the country. Now we won&rsquo;t be making programmes for the provincial and local governments.&nbsp;</p>

<p><span style="font-size:16px"><strong>It has been more than 60 years since Nepal started planned development and so far we have seen nine five-year plans and three three-year interim plans. How do you assess Nepal&rsquo;s effort at planned development?</strong></span><br />
Infrastructure development has been far from satisfactory. But we have made a lot of progress in terms of social indicators such as school enrollment, gender parity, health indicators, gender empowerment, water supply coverage and other several social indicators which are very much comparable with the South Asian standard. But we lost in economic infrastructure while focusing on social indicators. After the World Summit for Social Development, 1996 Copenhagen, we started putting a lot of effort on social structures. We also focused on allocation of resources for improvement in social indicators which somehow undermined our focus on building economic infrastructures. We thought that the economic activities will be taken care of by the private sector. But, we forgot that they won&rsquo;t come forward in the absence of basic infrastructures. Now I am talking about an infrastructure-led economic growth, which will create jobs, environment for the private sector and help boost the economy. This is a shift from one part of the economy to another. If you cannot make enough social investment, you have to top up the deficit by investing in infrastructure. You can refer to international financing and can resort to the PPP model or create environment for private sector to come up and mobilize your resources. We need to develop basic infrastructures, which will create employment, development and better services.</p>

<p><span style="font-size:16px"><strong>You are the ninth NPC vice-chairman post-2006. Political instability has really affected NPC&rsquo;s role, hasn&rsquo;t it?</strong></span><br />
I would say both yes and no. I saw several prime ministers and finance ministers when I was at the central bank. But still I did my job. All I needed was a secure post from where I could be accountable and deliver my duties independently. Traditionally, NPC office-bearers have been appointed politically because NPC is supposed to advise and plan for the government of the day and we all know that governments are formed by political parties. So, a new NPC team is appointed when the government changes. Thus the issue is how we can make NPC a stable organisation even if the government keeps on changing. Only then can it work more efficiently. But today even credible programmes formulated by the previous NPC team get discontinued. So, we need to restructure the NPC and make it a legal entity so that the positions of NPC office-bearers become secure at least for a certain period. We should make them accountable for what they do and only dismiss them for misconduct as practiced in the central bank. This would surely help bring stability to NPC. But we need to understand that not everyone is fit to be a planner.&nbsp;</p>

<p><span style="font-size:16px"><strong>NPC members are appointed on a quota basis by the political parties. Do we get real development experts this way?</strong></span><br />
In a party system, it is obvious that political parties will recommend office-bearers to NPC. Even in party quota, there are professional who are specialized in their sectors. But the parties should pick only able candidates who know what NPC is and what it is supposed to do. The candidates must meet certain criteria.</p>

<p><span style="font-size:16px"><strong>Right now you are like a general without his lieutenants. When do you think the NPC members will be appointed?&nbsp;</strong></span><br />
I hope that the members will be appointed as soon as possible, hopefully, before this calendar year ends.&nbsp;</p>

<p><span style="font-size:16px"><strong>Are you going to continue with the 2nd Generation Reforms which the NPC team led by your predecessor talked about?</strong></span><br />
Please tell me what a first generation reform is. We make reforms; it is a continuous process. But, I don&rsquo;t like to divide reforms into generations. Let&rsquo;s say just reforms. You need reforms if, after some time, things stop working or when there is a need to increase economic growth or sustain it in a changed environment. We have to think about reforms which will ensure fair income distribution, generate more jobs and deliver inclusive and socially justifiable economic growth. We should talk about such reforms. That is the kind of reform we should be doing which requires sectoral and macroeconomic reforms.&nbsp;</p>
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			'title' => 'Monthly Technical Analysis of Nepse (29 November to 24 December, 2015)',
			'image' => null,
			'short_content' => 'The benchmark index saw huge changes in the course of last month. Despite all the difficulties and political unrest in the country, Nepse gained a staggering 114.26 points (or up 11.17%) to close at 1137.03. It seems that the monetary policy is still playing a major role in causing the market to be bullish.',
			'content' => '<p><span style="font-size:18px"><strong>Nepse Added 114 Points</strong></span></p>

<p><span style="font-size:18px"><strong><img alt="" src="/userfiles/images/s%283%29.JPG" style="height:274px; margin-left:10px; margin-right:10px; width:700px" /></strong></span></p>

<p><span style="font-size:16px"><strong>Nepse Figure</strong></span></p>

<p><span style="font-size:16px"><strong><img alt="" src="/userfiles/images/s1%281%29.JPG" style="height:432px; margin-left:10px; margin-right:10px; width:700px" /></strong></span></p>

<p><span style="font-size:16px"><strong>Trend Analysis</strong></span><br />
The benchmark index saw huge changes in the course of last month. Despite all the difficulties and political unrest in the country, Nepse gained a staggering 114.26 points (or up 11.17%) to close at 1137.03. It seems that the monetary policy is still playing a major role in causing the market to be bullish. The index went down to its lowest level (1022) at the beginning of the month, where the 200-day moving average (MA) acted as its support level. Towards the end of the month, the index moved above the 50-day MA, indicating a bullish presence in the market. Majority of the gains experienced by the index was due to the capital plan increment for insurance sector, which caused a hike in the demand for insurance companies. Furthermore, book closure date for attractive microfinance bonuses also hiked up the prices of microfinance banks. &nbsp;</p>

<p><span style="font-size:16px"><strong>Resistance and Support</strong></span></p>

<p><span style="font-size:16px"><strong><img alt="" src="/userfiles/images/s2.JPG" style="height:211px; margin-left:10px; margin-right:10px; width:700px" /></strong></span><br />
The benchmark index reached a height of 1205 in the previous months. Due to numerous political unrests, the index crashed down to 1022 level. However, it bounced back up to 1122 level, and after that the market corrected itself to 1110 level. Nepseclimbed back up, following a bullish move up, and crossed above the resistance level of 1130. Currently, the immediate support level stands at 1130 and the immediate resistance level stands at 1160 level.&nbsp;</p>

<p><span style="font-size:16px"><strong>Nepse Trend Indicator</strong></span><br />
<strong>a. MACD</strong></p>

<p><strong><img alt="" src="/userfiles/images/s3%282%29.jpg" style="height:157px; margin-left:10px; margin-right:10px; width:700px" /></strong><br />
The MACD is a momentum oscillator formed by using two different types of moving averages, which provides specific buying or selling signals. When a MACD line crosses above the signal line, it is considered to be a positive sign and indicates a time to buy, and vice-versa.&nbsp;</p>

<p>The Macd and the signal line, at the beginning of the month,stood at -21.89 and -17.10 respectively. Since the beginning of the month, both the lines have risen steadily. The first half of the month saw the macd line cross above the signal line, which showed a bullish sign in the market. Furthermore, both the lines also entered the positive territory during the second half of the month, sustaining the optimistic sentiment in the market. Towards the end of the month, macd and the signal line ended at 10.86 and 6.47 respectively.&nbsp;</p>

<p><strong>b. RSI</strong></p>

<p><strong><img alt="" src="/userfiles/images/s4%283%29.jpg" style="height:176px; margin-left:10px; margin-right:10px; width:700px" /></strong><br />
RSI is a form of leading indicator that is believed to be most effective during periods of sideways movement. Such indicators may create numerous buy and sell signals that are useful when the market is not clearly trending upwards or downwards.&nbsp;</p>

<p>RSI at the beginning of the month stood at 23.70 level, which signified a high selling pressure in the market. During the first half of the month, the RSI climbed up at a steep rate. At the second half, it hovered around the late 50&rsquo;s and early 60&rsquo;s zone. Moving further up would indicate an overbought condition in the market. In the course of last month, RSI gained 39.24 points to close at 62.94 level.&nbsp;</p>

<p><strong>c. Bollinger Bands</strong></p>

<p><img alt="" src="/userfiles/images/s5%281%29.jpg" style="height:266px; margin-left:10px; margin-right:10px; width:700px" /><br />
The Bollinger Band is a technical indicator that consists of a moving average (21-day) along with two trading bands above (upper band) and below it (lower band). The bands are an indication of volatility, which are represented by calculating standard deviation.&nbsp;</p>

<p>The Bollinger bands also saw significant changes last month. The benchmark index moved up at a steep rate for the first half of the month, where it reached closer towards the upper band, which signified excess demand for securities. For the second half of the month, Nepse hovered between the mid and upper bands. Market volatility has also been on the rise since the past month as the distance between the lower and upper bands have widened.</p>

<p><span style="font-size:16px"><strong>Volume Indicator (On-Balance Volume)</strong></span><br />
On-Balance Volume (OBV) is a momentum indicator that relates volume to the current price of the index or security. It measures buying and selling pressure at the market. It acts as a cumulative indicator that adds volume on up days and subtracts volume on down days. If a price increase is supported by OBV, it confirms an uptrend, whereas if a price decrease is supported by OBV, it confirms a downtrend.&nbsp;</p>

<p><strong><img alt="" src="/userfiles/images/s6%282%29.jpg" style="height:372px; margin-left:10px; margin-right:10px; width:700px" /></strong></p>

<p>As mentioned last month, the rate of decline experienced by OVB is not as much as compared to that of Nepse, which suggests that the bearish situation in the market does not seem to be as strong to continue in the long-run. The rise in the benchmark index is also supported by a steady increase in the OVB. The average monthly volume transactions increased to NPR 37.43 crores from NRP 20.94 crores the month prior. &nbsp;</p>

<p><span style="font-size:16px"><strong>Overview</strong></span><br />
The Nepse index followed a bullish movement in the course of last month. The index gained a staggering 114.26 points (or up 11.17%) to close at 1137.03. It moved above the 50-day moving average as well, supporting the bullish sentiment in the market. The macd crossed above the signal line, and both the lines moved out of the negative territory, signifying a positive outlook of the market. Further rise in the RSI could indicate a possible buying pressure in the market. The Bollinger bands show prevalence of increase in market volatility as the distance between the upper and lower bands are increasing. The new support and resistance level stands at 1130 and 1160 respectively.</p>
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			'title' => ' Preservation of the Soul at Work',
			'image' => '20160122012707_,mg.jpg',
			'short_content' => 'David Whyte in his book, The Heart Aroused, attempted to keep what is tried and true, good and efficient at the centre of our present work life, while opening ourselves to a mature appreciation of the hidden and rather dangerous inner seas where our passions and creativity --  lie waiting. ',
			'content' => '<p><strong>--By Sujit Mundul</strong></p>

<p>David Whyte in his book, The Heart Aroused, attempted to keep what is tried and true, good and efficient at the centre of our present work life, while opening ourselves to a mature appreciation of the hidden and rather dangerous inner seas where our passions and creativity -- &nbsp;lie waiting.&nbsp;</p>

<p>Let us look at the hidden and neglected side of organisational life, where a woman&rsquo;s or a man&rsquo;s soul has been forced to reside. Modern commercial life arises from a love of the upper strata, of material products, of organisational power; it endeavours to celebrate the material, colourful portion of existence. Perhaps, it is the world as we see it or would like to see it and as it most makes sense to us. It has been the basis of the western affluence (now some Asian economies copied the culture to garner the affluence), by the life it has provided many in the west and being the basis of recommendation to many aspirants in the others parts of the globe.</p>

<p>Wordsworth said,&ldquo; a dark invisible workmanship that reconciles discordant elements and makes them move in one society.&rdquo;</p>

<p>Not because what is dark and invisible is necessarily better, but because it is not now joined to what is light and visible to us every day in the organisational world. &nbsp;Seemingly, it has been pushed away and ignored. David Whyte has been of the opinion that this split between our work life and that part of our soul life forced underground, seems to be at the root of much of our current unhappiness. &nbsp;It is now required to look at the stress this split causes in the human psyche and the way the soul attempts to heal and preserve its life amidst the pressures of schedules and ambitions of an individual. Researches over a period of time have revealed that this healing is not a simple recipe for a happy work life. We need to be aware of the fact that there are energies and powers in the world that are greater than any human endeavour, even the mighty business world, which we tend to hold in so much esteem. &nbsp;</p>

<p>Nevertheless our inheritance may tell us, work is not and never has been the very centre of the human universe; and the universe, with wonderful compassion, is willing to take endless pains to remind us of that fact. Once the basic necessities are taken care of, there are other more immediate urgencies central to human experience, and perhaps it is these urgencies which are continually breaking through our fondest hopes for an ordered work life. The split between what is nourishing at work and what is agonising is the very chasm from which our personal destiny emerges, as David Whyte argues.</p>

<p>The field of human creativity has long been a constant source of conflict between the upper world we inhabit everyday and the deeper unleashed energies alive in every element of life. Camille Paglia in her book &ldquo;Sexual Personel&rdquo; has written brilliantly on this turbulent relationship between the two worlds, one seen every day, while the other remains half hidden. &nbsp;The world of commerce has, till now, run a mile from this hidden world. &nbsp;Organisations have more often seen these underground and seemingly eccentric desires as a source of continual interruption into their production and purpose. The good news is that this is changing. Continually calling on its managers and line workers for more creativity, dedication and adaptability, the organisational world is inching towards the very place from where that dedication, creativity and adaptability must emanate; the turbulent place where the soul of an individual is formed and finds expression.</p>

<p>These, probably the first tentative corporate steps towards understanding personal artistry and individual creativity, are bringing to life a curled natural boundary where human begins have always lived uneasily, &ndash; one foot planted solidly in the light filled world, the other desperately looking for identity in the dark unknown. &nbsp;Despite our best hopes and efforts for ourselves and for humanity, this other hidden energy is constantly welling up from the very deep of existence.&nbsp;</p>

<p>From the organisational side, if companies ignore the darker under-belly of their employee&rsquo;s lives for a well-meaning approach, emphasising only the positive, David Whyte points out that they will be forced to rely on expensive management pyramids to manipulate their workers at the price of commitment. One has to remember that adaptability and native creativity on the part of the work-force comes through the door only with their passions; the passions come only with their souls. I believe that their souls love hidden springs boiling and welling at the gravitational point of existence more than they love the company. Perhaps this is a lesson that most of the successful corporates would require to learn sooner than later for their sustainability.</p>

<p style="text-align: right;"><em>Mundul is former CEO of Standard Chartered Bank Nepal where he currently serves as a member&nbsp;of the Board of Directors.</em></p>
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			'title' => ' Eliminating Wastes to Prosper via Kaizen',
			'image' => '20160122014138_mg.jpg',
			'short_content' => 'Among all management concepts and tools, Kaizen is the most humanizing and harmonizing as it engages every section of a commercial organization – from the chief executive to the junior-most rank and file.',
			'content' => '<p><strong>--By Basant Kumar Chaudhar</strong></p>

<p>&ldquo;To improve is to change; to be perfect is to change often,&rdquo; proclaimed Winston Churchill.</p>

<p>Little would have the British statesman realized that what he said then would, decades later, emerge as the essence of a powerful management tool.&nbsp;</p>

<p>Churchill&rsquo;s statement carried the seeds of Kaizen, which Japanese organizational theorist and management consultant Masaaki Imai introduced to the world in his epochal treatise work Kaizen: the Key to Japan&#39;s Competitive Success in 1986.&nbsp;</p>

<p>Though the origin of Kaizen has its roots in the work and research of American management experts following the Second World War, the concept&rsquo;s rigorous and long implementation by companies like Toyota lent it a distinct Japanese complexion. &nbsp;</p>

<p>Later Anthony Robbins and Robert Maurer highlighted the utility of Kaizen principles for personal development. In the book One Small Step Can Change your Life: The Kaizen Way (2004), Maurer showed how individuals can adopt the kaizen approach to enrich both personally and professionally.</p>

<p>The fact is that among all management concepts and tools, Kaizen is the most humanizing and harmonizing as it engages every section of a commercial organization &ndash; from the chief executive to the junior-most rank and file. Man, machine, time and space need to join hands if Kaizen has to be optimally utilized.&nbsp;</p>

<p>Before plunging into the nitty-gritty of this acclaimed concept, let me carry Kaizen to the kitchen. The example will facilitate its understanding for young business executives.</p>

<p>There was this issue of cleaning cutlery in a dishwasher and placing them in the cupboards or drawers. The washer and the drawers were hardly six feet apart in the kitchen. Before application of Kaizen, young daughters of a Kaizen expert used to move the cleaned cutlery from the washer to the drawer in un-assorted bunches. This had to be done as dirty cutlery used to be put into the dishwasher indiscriminately.</p>

<p>As the first step, different cutlery like spoons, forks, knives, ladles, etc. were placed in separate sections of dishwasher&rsquo;s hoarding section. This eliminated the time spent on separating the mixed-up cutlery. As the second step, the girls came up with the idea of moving the entire hoarder after the cleaning and placing it next to the drawers. This eliminated the need for walking to and fro between the dishwasher and the drawers. Now, the washed cutlery could be most conveniently placed in the drawers, the hoarder could be returned to the dishwasher and the job was done.</p>

<p><strong>Result:</strong> (1) Time to complete the process before using kaizen: 1.25 minutes; after using kaizen: 38 seconds. (2) Distance walked per day before kaizen: 60 feet; after kaizen: 6 feet. That meant that the distance walked per year within the kitchen dropped from 4.14 miles to 0.41 miles. The advantage in terms of time, effort and energy saved are obvious.&nbsp;</p>

<p>We know humans are not perfect. Most of what we do is full of imperfections and wastes. Kai means change and Zen means good. &nbsp;Kaizen directs us towards continual improvement. Small improvements by everyone, everyday and everywhere in the organization sum up the spirit of Kaizen. The outcome has been found to be amazing. Small can be big!</p>

<p>Unlike other management tools, say like Sigma and project management techniques, Kaizen is not time bound. It is continuous and endless as there is always scope for improvement. It is a creation of a new mindset and culture across the organisation.</p>

<p>Kaizen gets rid of hard work, motivates employees and creates a sense of belonging and fulfillment among all those who spot wastes and eliminate them.</p>

<p>However, haphazard improvement initiatives do not help. These need to be aligned with the overall company policy and objectives to bear fruit. For this it is essential that the exercise should be backed from the CEO downwards that is there should be buy-in of the concept at all levels.&nbsp;</p>

<p>Kaizen talks of three Gens. (a) Gen-ba means going to the actual place of action like the factory shop floor, construction site, surgery operation theatre, pharmacy distribution desk, hotel reception, etc. Board room meetings, poring over flip charts and excel sheets won&rsquo;t help that much. (b) Gen-butsu tells us to look at the actual parts and components which need change instead of just going through their drawings. (c) Gen-jitsu is all about getting the facts and understanding the need for the real change required. Acting on assumptions can be disastrous. Rely on the reality.</p>

<p>This will help you create a business case for Kaizen. The objectives could include reducing lead times, enhancing delivery performance, eliminating scrap, reducing inventories, increasing capacity, eliminating bottlenecks, reducing changeover time and machine failures, quality improvements, etc.</p>

<p>The goals should be SMART that is Specific, Measurable, Actionable, Realistic and Timely. The team size should be based on the areas targeted for improvement. Though all teams need to have a facilitator and a leader, it is better to have a diverse team rather than a group of having a single mindset. Let the issue be looked at by different eyes. The team must include members from the actual work areas as the best improvement ideas are known to come from persons actually executing the process.</p>

<p>It is vital for the teams to document the current state before executing Kaizen. They should then identify wastes, make the necessary changes, again document the improvement, standardize the process and repeat the process for more improvement. However, before repeating the process it is imperative to make a presentation and invite healthy criticism, and then also celebrate.</p>

<p>At times, time is a major constraint. In such cases one can go in for what has come to be known as Kaizen Blitz or rapid improvement as a focused activity on a particular process. The idea is to identify and remove wastes within one to five days.</p>

<p>Elimination of wastes helps save money, boosts productivity and improves profitability &ndash; the basic essentials for a company&rsquo;s sustainability and growth. &nbsp;</p>

<p>But the key goal is to identify wastes which Kaizen describes as Muda, Mura and Muri. &nbsp;These are Japanese terms. What do these terms signify and how they help us in distinguishing between different types of wastes is a topic in itself. It is vital to understand these nuances to make Kaizen work for you and your organization.</p>

<p><em>(I shall discuss this in my forthcoming column.)</em></p>

<p style="text-align: right;"><em>The author is Chairman of BLC (Bhuramal Lunkarandas Conglomerate) and Basant Chaudhary Foundation and can be contacted at feedback@basantchaudhary.com. Views are personal.</em></p>
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			'title' => ' Meetings: An Alliance, an Affirmation and a Therapy ',
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			'short_content' => 'A meeting is an alliance. Each person sitting there endorses a coming together of ideas and direction. Even a dissent, a disagreement and an argument are a valuable dimension of the discussion.  In fact, it is a strategic alliance for it brings together the varied competencies of the attendees towards the points of conversation. ',
			'content' => '<p style="text-align: center;"><span style="font-size:16px"><em>A meeting is an affirmation. It affirms the identity, the role, the existence of each of its members.</em></span></p>

<p><strong>--By Vaijayanti Khare&nbsp;</strong></p>

<p>A&nbsp;meeting is an alliance. Each person sitting there endorses a coming together of ideas and direction. Even a dissent, a disagreement and an argument are a valuable dimension of the discussion. &nbsp;In fact, it is a strategic alliance for it brings together the varied competencies of the attendees towards the points of conversation.&nbsp;</p>

<p>A meeting is an affirmation. It affirms the identity, the role, the existence of each of its members. And that of the entire group at the meeting. It is an affirmation of each person&rsquo;s relation with the organisation, with the others at the meeting, and of course, with himself. &nbsp;It is an affirmation of the role, the ability and the confidence of each person. Even a negation is in fact an affirmation.&nbsp;</p>

<p>I am sure you rarely thought of a meeting as this. &nbsp;Perhaps, you began this page by relating to the picture in the box. I put that there with a reason. I can see that you &lsquo;grabbed&rsquo; that mug. Let me help you &lsquo;drop&rsquo; it!</p>

<p>A meeting, above all, is what you bring to it. What you make of it. And, what you take away from it. You may be the lead chair, a senior or mid-senior member or a new entrant on a meeting, and yet you are the meeting maker. There can be no observers or &lsquo;i-care-a-damn&rsquo; member &ndash; such a person should rather excuse herself from the meeting.&nbsp;</p>

<p>A meeting is one of the best places for the Meaning Quotient of you as an individual, you as an organisation and you as the relation and equation of both these. Do not be fooled by convenient jargon like internal meeting, external meeting, meeting with clients, meeting with employee, high-end meeting &hellip;.the list can be endless. Each meeting is as important as the other, if you respect yourself. &nbsp;Each meeting is a value you put in or give yourself. &nbsp;</p>

<p>A meeting is a therapy. It is a point in time, a location in space; and like a Cartesian grid it is where you are placed. It allows you to harness all your energies and that of the others around you, and it is the place for decisions, direction, assimilation, connections and completion. A meeting should ideally make you more you, if you understand it as such. &nbsp;It therefore heals, rejuvenates, makes anew, rebuilds and reinforces.&nbsp;</p>

<p>If you think I am talking meta-physics, then what can be simpler than a meeting to realise your metaphysical self?! !&nbsp;</p>

<p>Each aspect of a meeting may have been talked about by your communication trainers, written out in management text books, discussed at the meetings and more often outside the meetings. And you feel that nothing changes about the meetings. Well, that&rsquo;s not surprising &ndash; because you have not changed anything about yourself or about the meetings yourself!! You think some &lsquo;outside&rsquo; force is responsible for that change.&nbsp;</p>

<p>Meetings drone on, and are made into the waste-of-time, the ineffective and the meaningless exercise it seems because most have lost the purpose of a meeting, or even worse, lost their own purpose of being in that position, role, organisation et al. &nbsp;</p>

<p>Any meeting can become a &lsquo;drag&rsquo; even before it begins. Every person is responsible for changing that.</p>

<p>The essential elements of a meeting are objective, time, process and summation. A meeting is meaningful when it achieves objectives,when it takes up a minimum amount of time and when you feel that a sensible process has been followed. A meaningful, effective meeting can be the norm and not the exception when one structures the planning, preparation, execution, and follow up around three basic criteria.</p>

<p><strong>Objective: </strong>An effective meeting serves a useful purpose. This means that in it, you achieve a desired outcome. For a meeting to meet this outcome, or objective, you have to be clear about what it is. Too often, people call a meeting to discuss something without really considering what a good outcome would be. Clearly spell out the objective of each point on the agenda &ndash; a decision? Generate ideas? A status report? Information? A plan? And such. &nbsp;With the end result clearly defined, you can then plan the contents of the meeting, and determine who needs to be present.</p>

<p>It is imperative that an agenda be made and sent out well in advance even if it is a routine, scheduled meeting. To prepare an agenda, consider the following factors:<br />
&bull; Priorities &ndash; what must be covered?<br />
&bull; Results &ndash; what do you need to accomplish?<br />
&bull; Participants &ndash; who needs to attend?<br />
&bull; Sequence &ndash; in what order will you cover the topics?<br />
&bull; Timing &ndash; how much time will you spend on each topic?<br />
&bull; Date and Time &ndash; when will the meeting take place?<br />
&bull; Place &ndash; where will the meeting be? The arrangements needed?&nbsp;</p>

<p><br />
<strong><img alt="" src="/userfiles/images/mg2jh.JPG" style="float:right; height:804px; margin:5px; width:300px" />Time: </strong>&nbsp;Time is a precious resource, and no one wants their time wasted. With the amount of time we all spend in meetings, you owe it to yourself and your team to streamline the meeting as much as possible. What&#39;s more, time wasted in a meeting is time wasted for everybody attending. For example, if a critical person is 15 minutes late in an eight person meeting, that person has cost the organisation two hours of lost activity.</p>

<p>Starting with your meeting objective, everything that happens in the meeting should further that objective. If it is superfluous, it should not be included. With an idea of what needs to be covered and for how long, you can then look at the information that should be prepared beforehand. What do the participants need to know in order to make the most of the meeting time? And, what role are they expected to perform in the meeting, so that they can come prepared.</p>

<p>If it is a meeting to solve a problem, ask the participants to come with suggestions of a viable solution. If you are discussing an ongoing project, have each participant summarise her progress to date and circulate the report beforehand, ideally. &nbsp;Assigning a particular topic of discussion to a relevant person is a good practice to increase involvement and interest. On the agenda, indicate who will lead the discussion or presentation of each item.</p>

<p>Use your agenda as your time guide. When you notice that time is running out for a particular item, consider hurrying the discussion, pushing to a decision, deferring discussion until another time, or assigning it for discussion by a subcommittee. An important aspect of running effective meetings is insisting that everyone respects the time allotted. Start the meeting on time, do not spend time recapping for latecomers, and, when you can, finish on time.&nbsp;</p>

<p><strong>Sensible Process:</strong> Begin sensibly by preparing and circulating agenda. Invite feedback and inputs. Spread the feeling of participation rather than being dictatorial. Perhaps there is something important that a member wishes to add. Maybe you have allotted too much, or too little, time for a particular item. There may even be some points you have included that have been settled already and can be taken off the list for discussion. It is important you get feedback from the meeting participants about the proposed agenda.</p>

<p>Proceed sensibly and sensitively. If certain people are dominating the conversation, make a point of asking others for their ideas. At the end of each agenda item, quickly summarise what was said, and ask people to confirm that that&#39;s a fair summary. Then make notes regarding follow-ups. Note items that require further discussion. Watch body language and make adjustments as necessary. Maybe you need a break, or you need to stop someone from speaking too much. Ensure the meeting stays on topic. List all tasks that are generated at the meeting. Make a note of who is assigned to do what, and by when. At the close of the meeting, quickly summarise the next steps and inform everyone that you will be sending out a meeting summary.</p>

<p>After the meeting is over, take some time to debrief, and determine what went well and what could have been done better. Evaluate the effectiveness based on how well you met the objective. This will help you continue to improve your process of running effective meetings.</p>

<p>Finally, prepare the meeting summary, circulate to all participants and other stakeholders. It is a record of what was accomplished and who is responsible for what as the team moves forward. This is a very crucial part of effective meetings that often gets overlooked. You need a written record of what transpired, along with a list of actions that named individuals have been assigned to perform. Make sure someone is assigned to take notes during the meeting if you think you will be too busy to do so yourself.</p>

<p>It is easy to make the &lsquo;meetings&rsquo; in your Organisation a &lsquo;culture statement&rsquo;. It is a simple way of inculcating values of respect, purpose, integrity and performance. Ever thought of having a &lsquo;rating&rsquo; system for all your meetings, making it a criteria for &lsquo;performance of a unit or department&rsquo;, having a &lsquo;meeting mentor&rsquo; to bring about the necessary change in the way you meet. A &lsquo;Meeting&rsquo; is a strong &lsquo;Change agent&rsquo; in itself, let us harness it.</p>

<p>Vaijayanti Khare is known for her dynamic engagements in the corporate, academic, social and development fields in Kathmandu over the past decade. Her writings are a reflection of her hands-on work, insights, studies, success and challenges.</p>
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			'title' => 'Kantipur Valley College : A Launch Pad to Success',
			'image' => '20160125023816_cf3.jpg',
			'short_content' => 'Back in 1981 just another non-descript school was established in Kathmandu, in a capital city full of schools. But it all changed in 2002 when the school changed into a higher education institution becoming Kantipur Valley College (KVC). And for the past 13 years it has been providing high quality education in management in graduate and undergraduate levels. ',
			'content' => '<div class="content-wrapper" style="box-sizing: border-box; padding-left: 10px;">
<div class="highlight-column" style="box-sizing: border-box; width: 200px; padding: 5px; float: right; clear: left; margin-left: 5px; margin-top: 5px; margin-bottom: 5px; text-align: center; background: rgb(247, 230, 171);">
<p><span style="font-family:helvetica neue,helvetica,arial,sans-serif; font-size:14.84px"><img alt="Jeetendra Amatya Vice Principal, KVC" src="/userfiles/images/cf5%286%29.jpg" style="height:236px; width:190px" /></span><strong>Jeetendra Amatya</strong><br />
Vice Principal, KVC</p>
</div>
</div>

<p>Back in 1981 just another non-descript school was established in Kathmandu, in a capital city full of schools. But it all changed in 2002 when the school changed into a higher education institution becoming Kantipur Valley College (KVC). And for the past 13 years it has been providing high quality education in management in graduate and undergraduate levels.&nbsp;</p>

<p>&ldquo;The idea for starting the college came from my father, Pushpa Man Amatya, who is also the principal of the college,&quot; says Jeetendra Amatya, vice principal of KVC. And in 2002, KVC began its journey as a full-fledged business college with BBA programmes. Pushpa Man Amatya is highly reputed name among educators, not only in Lalitpur, but also in the country&#39;s high education.</p>

<p>Like any new institution, it started off small. &ldquo;The college had only 8 BBA students at the start,&rdquo; recalls Amatya. Today, more than 800 students fill its corridors and classrooms.</p>

<p>Over the years the courses offered by KVC (which is affiliated to Purbanchal University) have grown exponentially. Education at a reasonable cost is the working mantra of the college. Today it has courses in B-Tech (Biotechnology), Bachelors of Business Administration (BBA), Masters of Business Administration (MBA) and Executive Masters of Business Administration (EMBA),&rdquo; says Amatya with obvious pride.</p>

<p>&ldquo;We hold the belief that the college is a multicultural, co-educational and open minded learning centre where students are not just prepared academically but are also taught to face the emerging challenges in the modern world,&rdquo; he adds.</p>

<p>Located at Kumaripati, Lalitpur, KVC strives to provide a holistic and progressive education, producing well cultured, independent minded, self disciplined, self aware, morally responsible, intellectually bright and socially outstanding citizens.&nbsp;</p>

<p>&ldquo;It is a matter of pride for us that on our journey so far we have produced many top class candidates who are now employed in different reputed organisations,&ldquo; states Amatya.&nbsp;</p>

<p><span style="font-size:16px"><strong>Why KVC?</strong></span><br />
KVC is one of the colleges in the capital with a reasonable cost structure. It sees it mission as to provide quality education with direct benefits for its students at a very minimum cost. It is also one of the toppers (with CGPA 4) among the Purbanchal University affiliated colleges and students themselves seem to refer other students to join KVC.&nbsp;</p>

<p>Certain promotional schemes of the college stand out. The new scheme for EMBA students is a case in point. &ldquo;EMBA students have to pay Rs 200,000 in the beginning and after two years of payment, the student will get Rs 150,000 as a refund,&quot; reveals Amatya. He adds that such promotional schemes have immediate &nbsp;benefits for the students and long term benefits for the college.</p>

<p>&quot;KVC focuses on skills development along with academic excellence. Like in foreign colleges, students of BBA, MBA can create small jobs while at college and get incentives,&quot; Amatya says. According to him, the EMBA course has attracted students who have already worked at the executive level like bankers, bank CEOs, heads of IT departments, vice-principals of colleges and young business entrepreneurs with their own businesses.</p>

<p><img alt="" src="/userfiles/images/cf4%287%29.jpg" style="margin-left:10px; margin-right:10px" /></p>

<p><span style="font-size:16px"><strong>New Directions</strong></span><br />
At the start, trying to fulfill student demand was a little difficult for the college. &ldquo;As time passed we have gotten over many hurdles and there will be many more in the days to come,&rdquo; says Amatya. But the outlook remains positive. Seeking to broaden its appeal, KVC is coming up with many additional courses like Hotel Management, Information Technology and Engineering.</p>

<p>The college also has aspirations to be granted the status of a deemed university. Amatya says that though policies and guidelines still need to be put in place.&nbsp;</p>

<p><span style="font-size:16px"><strong>Job Placement</strong></span><br />
Most of the students become involved in the banking sector. The college says, students who have passed from KVC have given a positive response regarding their future jobs. Till date, internship and job placements are easy for KVC students.&nbsp;</p>

<p><span style="font-size:16px"><strong>CSR Activities</strong></span><br />
Kantipur Valley College sees the business fair as part of its corporate social responsibility. The college actively participates in fairs organised by other colleges. &ldquo;Our college is fully dedicated to provide support for the deserving students.&quot; Similarly, Sanjay Pandit BBA student in KVC, now recognised as a Nepali long distance runner who has also successfully traversed the peaks of seven continents, has expressed his happiness at KVC for launching his career, says Amatya.</p>

<div style="background: rgb(247, 230, 171);padding:10px">
<p><span style="font-size:18px"><strong>SWOT Analysis</strong></span><br />
<span style="font-size:16px"><strong>Strengths</strong></span><br />
&bull; Trust of students<br />
&bull; Belief of Faculty Members<br />
&bull; Strong relationship between management and faculty members</p>

<p><span style="font-size:16px"><strong>Weaknesses</strong></span><br />
&bull; KVC aims to have modern equipped and updated library for students&nbsp;<br />
&bull; Common library for Purbanchal University affiliated college</p>

<p><span style="font-size:16px"><strong>Opportunities</strong></span><br />
&bull; Great opportunity for creating university</p>

<p><span style="font-size:16px"><strong>Threats</strong></span><br />
&bull; Update with tim</p>
</div>
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			'short_content' => 'Ngadi Hydropower makes a real effort to practice the principles of management effectively.  For this, in every different project it operates, it registers a separate company to shorten the financial hurdles and for the smooth operation of the projects. At present, the company has two projects-one is Siuri Khola and another called Super Nyadi Hydropower. Suiri project is already generating and selling electricity while for Super Nyadi, the company has received survey license and feasibility study is going on.',
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<div class="highlight-column" style="box-sizing: border-box; width: 200px; padding: 5px; float: right; clear: left; margin-left: 5px; margin-top: 5px; margin-bottom: 5px; text-align: center; background: rgb(247, 230, 171);">
<p><span style="font-family:helvetica neue,helvetica,arial,sans-serif; font-size:14.84px"><img alt="Shailendra Guragain, Managing Director, Ngadi Hydropower" src="/userfiles/images/cf2%2811%29.jpg" style="height:236px; width:190px" /></span><strong>Shailendra Guragain</strong><br />
Managing Director<br />
Ngadi Hydropower</p>
</div>
</div>

<p>A&nbsp;good way to assess Ngadi Hydropower&rsquo;s journey so far would be to weigh its current achievements with the targets and aims it had laid out at its inception. Ngadi Group Power Ltd. was founded in February 2006 as private limited company and later in June, 2014 it was converted into a public limited company.</p>

<p>&ldquo;We started from scratch, the progress that we are witnessing right now is satisfactory,&rdquo; says the company&rsquo;s managing director, Shailendra Guragain, while adding, &ldquo;We do not have many products to sell in the market. All we do is produce energy to make sure that no one lives in the dark.&rdquo;&nbsp;</p>

<p>Identifying itself as a company with technically feasible and environmentally sustainable hydropower projects, the power company says it is committed towards operational excellence, good governance and corporate citizenship.</p>

<p><span style="font-size:16px"><strong>Milstones</strong></span><br />
Guragain stresses that whenever an additional home in Nepal &nbsp;gets electricity, he considers it as a milestone in the company&rsquo;s journey. &ldquo;As a trader in energy, we believe that our overarching goal is to provide electricity access to households throughout the country using highly skilled and experienced team members,&rdquo; says Guragain.</p>

<p><span style="font-size:16px"><strong>Organisation&rsquo;s Approach</strong></span><br />
Ngadi Hydropower makes a real effort to practice the principles of management effectively. &nbsp;For this, in every different project it operates, it registers a separate company to shorten the financial hurdles and for the smooth operation of the projects. At present, the company has two projects-one is Siuri Khola and another called Super Nyadi Hydropower. Suiri project is already generating and selling electricity while for Super Nyadi, the company has received survey license and feasibility study is going on. The promoters duo Dr. Bhogendra Kumar Guragain and Shailendra Guragain are also promoters of River Falls Hydro that is promoting 3 projects in Eastern Nepal. The major promoters of this company already have experience of Barun Hydro power and Arun Valley Hydropower in which they are still directors. The company does not forget to make a positive impact in the livelihoods of the local population where it works either. &ldquo;We have also been able to raise the living standards of the people living around the project site by providing contractual employment to the locals as well as others,&rdquo; states Guragain.</p>

<p><span style="font-size:16px"><strong>Corporate Social Responsibility</strong></span><br />
The company&rsquo;s approach to CSR is also hands on and on the ground. &ldquo;All of our project construction sites are situated far from villages. Thus, in order to reach the site, we have constructed roads which provide access to many villages on its way,&rdquo; says Guragain. &ldquo;Wherever we run our projects, we have been able to completely change the face of that village.&rdquo;&nbsp;</p>

<p><span style="font-size:16px"><strong>&nbsp;Strengths</strong></span><br />
Equipped with highly experienced professionals and dedicated team members, Ngadi hydropower has been able to encourage its staff members and excel at work. The company believes that gaining public trust by delivering excellent work can help build a relationship with the project stakeholder. &ldquo;This, I believe, is one of the strengths of our company,&rdquo; states Guragain.</p>

<p><span style="font-size:16px"><strong>Weaknesses</strong></span><br />
For any company in the sector dealing with foreign investors is a must in order to scale up the business. &ldquo;While doing this, the management sometimes needs to negotiate with people who are narrow minded and need to take harsh decisions. Those decisions have sometimes proven to be costly,&rdquo; admits Guragain.&nbsp;</p>

<p><span style="font-size:16px"><strong>Opportunities and Threats</strong></span><br />
With the increasing focus on energy and the realisation that energy security is the most important factor for the nation, Ngadi has taken this as an opportunity to scale up its business. However, the company laments that unclear guidelines and directions on the government&rsquo;s side has been creating obstacles for further investment. &ldquo;The risks posed by an external environment, especially from the policy makers, can hamper making predictions and threaten our company&rsquo;s smooth operation,&rdquo; points out Guragain.</p>

<p><span style="font-size:16px"><strong>Board of Directors</strong></span><br />
Ngadi group is equipped with experts as well as highly experienced professionals. The board member consist of Dr. Bhogendra Kr. Guragain as a Exectuive Chairman, Shailendra Guragain as &nbsp;a Managing Director, Dinesh Gurung as Director and Robin Subedi as Director of the company.</p>

<p><span style="font-size:16px"><strong>Future Endeavours</strong></span><br />
Equipped with highly experienced professionals, Ngadi Hydropower believes it can build large hydro projects in the country. &ldquo;We have the confidence to build even 100mw projects in the country,&rdquo; says Guragain. It ultimately believes that it can produce electricity with the help of domestic investment, domestic experts and domestic human resources.&nbsp;</p>

<p><span style="font-size:16px"><strong>Projects Established by the Company</strong></span><br />
<strong>1. Siuri Khola Small Hydropower Project (5000 KW)</strong><br />
Located in Bhulbhule VDC of Lamjung district, the project has an installed capacity of 5 MW with a design discharge of 1.4 m3/sec. After the completion of first feasibility study of Siuri Khola Small Hydropower Project in 2005, the power purchase agreement with an installed capacity of 990 kW with Nepal Electricity Authority was completed based on the same feasibility study of 990kw capacity on 2006. However, this detail project study report carried out was prepared for the upgraded size of the project from 990 kW to 5000 kW for project implementation. The PPA was signed with NEA on February &nbsp;2008.&nbsp;</p>

<p>Hydrology of the project indicates that the river has discharge of 0.57 m3/sec at Q65 discharge and 1.69 m3/sec at Q40, is enough for fulfilling the requirement of the project.</p>

<p><strong>Location of Project Site :</strong> &nbsp;&nbsp; &nbsp;Bhulbhule VDC<br />
<strong>Type of Turbine&nbsp;&nbsp; &nbsp;:</strong> &nbsp;&nbsp; &nbsp;Pelton (Impulse)<br />
<strong>Rated Output for each unit&nbsp;&nbsp; &nbsp;: </strong>&nbsp;&nbsp; &nbsp;2650 kW<br />
<strong>Generator Rated &nbsp;Output for each unit&nbsp;&nbsp; &nbsp;: </strong>&nbsp;&nbsp; &nbsp;3150 kVA&nbsp;<br />
<strong>Transformer Capacity&nbsp;&nbsp; &nbsp;:</strong> &nbsp;&nbsp; &nbsp;3*2100 kVA<br />
<strong>Transmission Length&nbsp;&nbsp; &nbsp;: </strong>&nbsp;&nbsp; &nbsp;8 km<br />
<strong>Transmission Voltage &nbsp;&nbsp; &nbsp;: </strong>&nbsp;&nbsp; &nbsp;33 KV<br />
<strong>Interconnection Point&nbsp;&nbsp; &nbsp;: </strong>&nbsp;&nbsp; &nbsp;Switching Station &nbsp;&nbsp; &nbsp;&nbsp;&nbsp; &nbsp;&nbsp;&nbsp; &nbsp;at Nyadi, Lamjung<br />
<strong>Installed Capacity&nbsp;&nbsp; &nbsp;: </strong>&nbsp;&nbsp; &nbsp;4950kW<br />
<strong>PPA Date (990 kW)&nbsp;&nbsp; &nbsp;: </strong>&nbsp;&nbsp; &nbsp;2007 Aug 02 &nbsp;&nbsp; &nbsp;&nbsp;&nbsp; &nbsp;&nbsp;&nbsp; &nbsp;&nbsp;&nbsp; &nbsp;(2064/04/17)<br />
<strong>PPA Date (3960 kW)&nbsp;&nbsp; &nbsp;: </strong>&nbsp;&nbsp; &nbsp;2009 Jan 19 &nbsp;&nbsp; &nbsp;&nbsp;&nbsp; &nbsp;&nbsp;&nbsp; &nbsp;&nbsp;&nbsp; &nbsp;(2065/10/06)<br />
&nbsp;<br />
<strong>2. Super Nyadi Hydropower Project&nbsp;(40.27 MW)</strong><br />
As per the application submitted to DoED for the Survey License on 2071/05/18, the project is identified for 40.27 MW. The Company has already signed with Clean Energy Consultants Pvt. Ltd. for the feasibility study of the project. Desk study report has finalized the project salient features and all the project components are purposed to be constructed at right bank of Nyadi river.</p>

<p><strong>Location of Project Site &nbsp;&nbsp; &nbsp;: &nbsp;</strong>&nbsp; &nbsp;Bahundada and Bhulbhule&nbsp;VDCs, Lamjung District.<br />
<strong>Type of Scheme &nbsp;&nbsp; &nbsp;:</strong>&nbsp;&nbsp; &nbsp;Run-of-River<br />
<strong>Water Source &nbsp;&nbsp; &nbsp;:</strong>&nbsp;&nbsp; &nbsp;Ngadi River<br />
<strong>Installed Capacity &nbsp;&nbsp; &nbsp;:&nbsp;</strong>&nbsp; &nbsp;40.27 MW</p>

<p><span style="font-size:16px"><strong>Stock Offerings</strong></span><br />
Recently, the company floated Initial Public Offering (IPO) for the locals of the project site and 486,868 units of shares (face value Rs. 100) have been already allocated to them. Now they are planning for IPO for the general public.</p>
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			'title' => 'SDBL eMerging into the Future',
			'image' => '20160125025330_cf.jpg',
			'short_content' => 'In a reflection of the times, Siddhartha Development Bank Limited (SDBL), one of the country’s top five national level development banks, is proceeding to merge into it Ekata Bikash Bank and Nepal Awas Finance as per the NRB directive for increasing the paid-up capital. ',
			'content' => '<div class="content-wrapper" style="box-sizing: border-box; padding-left: 10px;">
<div class="highlight-column" style="box-sizing: border-box; width: 200px; padding: 5px; float: right; clear: left; margin-left: 5px; margin-top: 5px; margin-bottom: 5px; text-align: center; background: rgb(247, 230, 171);">
<p><span style="font-family:helvetica neue,helvetica,arial,sans-serif; font-size:14.84px"><img alt="Ajaya Kumar Mishra, CEO, SDBL" src="/userfiles/images/cf1%2818%29.jpg" style="height:236px; width:190px" /></span><strong>Ajaya Kumar Mishra</strong><br />
CEO, SDBL</p>
</div>
</div>

<p>In a reflection of the times, Siddhartha Development Bank Limited (SDBL), one of the country&rsquo;s top five national level development banks, is proceeding to merge into it Ekata Bikash Bank and Nepal Awas Finance as per the NRB directive for increasing the paid-up capital.&nbsp;</p>

<p>This also comes as a response to the general status quo that exists in Nepal between development and commercial banks. &ldquo;A&rdquo; Class commercial banks dominate Nepal&rsquo;s banking sector. The investment portfolio of development banks makes up only 13.62 percent of the total investment. Based on the monthly statistical data of Nov 2015, the credit lending of development banks has lowered by 6.22 percent compared to October 2015, while there is an increase in credit lending by 1.15 percent in the case of commercial banks. Among the development banks, SDBL&rsquo;s share is around 3.24 percent in terms of investment which is quite significant.&nbsp;</p>

<p>In all, once the merger happens, the bank&rsquo;s paid-up capital will rise to around Rs 1.15 billion. &ldquo;The Bank will meet the requirement through the issuance of bonus shares and right shares in the coming years,&rdquo; informs bank&#39;s Chief Executive Officer Ajaya Kumar Mishra.</p>

<p>Further explaining reasons for the merger, Mishra says, &ldquo;We chose Ekata Bikash Bank to strengthen our business base in the west of the country and Nepal Awas Finance for its unutilized capital base,&rdquo; adding, &ldquo;After the merger we will have a very strong presence in the western part of Nepal.&rdquo;&nbsp;</p>

<p>Mishra agrees on the central bank&rsquo;s decision to lift the paid-up capital of BFIs. &ldquo;I think the NRB move to increase capital of BFIs is appropriate and relevant. Considering the national economy, macroeconomic environment and increased competition among BFIs, the level of risk is increasing day by day. So, to minimise the risk level by increasing the risk appetite of the bank, NRB&rsquo;s approach to increase the capital base is justifiable.&rdquo; He adds, however, that the two year time frame maybe of some concern, although Mishra is confident that his bank will meet the capital requirement in time.</p>

<p>The bank has been able to generate profit in the last two years. Though the bank was unable to provide a return to its shareholders in recent years, it has managed to provide an 11 percent bonus share from the profit and reserves of FY 2014/15. The net profit in FY 2014/15 stands at Rs 142 million. The volume of business has significantly increased in the last five years. Deposit and credit lending have increased from Rs 4 billion and Rs 3.69 billion respectively to Rs 6.98 billion and Rs 5.71 billion.</p>

<p>Also the bank recently signed a remittance agreement with Deva Bikash Bank to expand the service of SDBL&rsquo;s trust remit. Under the agreement cash can be sent and received from all branches of Deva Bikash Bank through SDBL&rsquo;s Trust Remit.&nbsp;</p>

<p>One thing that Mishra notes is that the central bank should simplify and speed up the merger of BFIs. &ldquo;Delays in mergers can create a lot of issues and cause mergers to fail. Sometimes it takes four months to get LOI and another year to complete the process. If NRB simplifies its process, mergers can be concluded within six months,&rdquo; views Mishra.</p>

<p><span style="font-size:16px"><strong>About SDBL</strong></span><br />
Siddhartha Development Bank is the first development bank of the western region. It was formally established in 1999 and started operating from 2000 as a regional level development bank. Soon it raised its paid up capital by 5 times and was upgraded into a national level development bank. This was a milestone in the Nepali banking industry and SDBL is the first which successfully and increased its capital base by five times. The total paid-up capital of the bank has been increased to Rs 715.9 million after the issuance of recent bonus shares of 11 percent. Currently, the bank&rsquo;s deposit and lending stand at Rs 7.28 billion and Rs 6.37 billion respectively.</p>

<p>&ldquo;We are focusing on consolidating the business and enhancing the asset quality.&rdquo; Mishra stresses, &ldquo;Our focus is on building a strong brand image of the bank.&rdquo;</p>

<p>SDBL is the number one development bank in terms of ATM card users. The Bank has been providing its services from 18 branches and 19 ATMs located at various parts of Nepal from Biratnagar in the east to Dhangadhi in the west.</p>

<p>&ldquo;We are innovative and are continuously responding to the demands of our customers from the urban areas to the rural. We focus on customer choices and preferences,&rdquo; states Mishra. The bank currently has around 90,000 customers.&nbsp;</p>

<p><span style="font-size:16px"><strong>Market Strategy</strong></span><br />
The bank considers commercial banks as competitors and has developed different credit and deposit schemes to attract customers away from commercial banks. For example, it has been working at lowering the cost of funds by seeking low cost deposits so that credit can be lent at low competitive rates.&nbsp;</p>

<p><span style="font-size:16px"><strong>Products and Services&nbsp;</strong></span><br />
&ldquo;We have a unique product called the &lsquo;Siddhartha Retirement Fund&rsquo; in which we manage the retirement funds of more than 10,000 employees and 350 institutions. It is approved by the Inland Revenue Office and we have a very large clientele,&rdquo; reveals Mishra. Other services the bank has introduced cover home loans with life insurance policies, and mobile banking services. Its SDBL Trust Remit service has around 1000 agents across the country.&nbsp;</p>

<p><span style="font-size:16px"><strong>CSR</strong></span><br />
The bank has employed the differently-abled and has distributed stationery items, clothes etc to homeless children, orphanages at various times. The bank has also been active in Lumbini and helped at various old age homes. &ldquo;We also served the victims of the April 25 earthquake,&rdquo; says Mishra.</p>

<div style="background: rgb(247, 230, 171);padding:10px">
<p><span style="font-size:18px"><strong>SWOT Analysis</strong></span><br />
<span style="font-size:16px"><strong>Strengths</strong></span><br />
&bull;&nbsp;&nbsp; &nbsp;Customer base and competent staff<br />
&bull;&nbsp;&nbsp; &nbsp;Attractive deposit mix where savings and fixed deposits comprise around 77 percent of the total deposit<br />
&bull;&nbsp;&nbsp; &nbsp;Institutional call deposit is below&nbsp;<br />
Rs 100 million<br />
&bull;&nbsp;&nbsp; &nbsp;Strategically located branches</p>

<p><span style="font-size:16px"><strong>Weaknesses/Areas to Improve</strong></span><br />
&bull;&nbsp;&nbsp; &nbsp;The bank needs to recover some problematic loans. Management has been working to recover these loans&nbsp;</p>

<p><span style="font-size:16px"><strong>Opportunities</strong></span><br />
&bull;&nbsp;&nbsp; &nbsp;Due to NRB recent policy to increase paid up capital, there will be sharp decline in the number of development in Nepal<br />
&bull;&nbsp;&nbsp; &nbsp;After the current political unrest and implementation of New constitution, market will witness sharp growth and there will be ample of opportunities for stable and strong banks</p>

<p><span style="font-size:16px"><strong>Threats</strong></span><br />
&bull;&nbsp;&nbsp; &nbsp;Surviving the current political and economic unrest and retaining competitive staff</p>
</div>
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			'title' => 'Energy Now',
			'image' => '20160125032417_cs.jpg',
			'short_content' => 'Nepal Electricity Authority (NEA) and Nepal Oil Corporation (NOC) are two energy monopolies of the state which, everyone agrees, have grown sick to the core and need serious overhauling. Both were created during the Panchayat system and have undergone little reforms since then. The NEA enjoys complete monopoly in the field of hydroelectricity.',
			'content' => '<p><em><span style="font-size:16px">Nepal&#39;s current fuel crisis has brought to the fore the long overdue task of restructuring the creaking and ailing energy sector</span></em></p>

<p><strong>--By Akhilesh Tripathi and Jiban Basnet</strong></p>

<p>Nepal Electricity Authority (NEA) and Nepal Oil Corporation (NOC) are two energy monopolies of the state which, everyone agrees, have grown sick to the core and need serious overhauling. Both were created during the Panchayat system and have undergone little reforms since then. The NEA enjoys complete monopoly in the field of hydroelectricity. Besides being the sole buyer of electricity in Nepal, the NEA is also the developer, generator and distributor of the commodity.&nbsp;</p>

<p>Similarly, the NOC is the state&rsquo;s oil monopoly; it is the sole importer of petrol, diesel, kerosene, aviation fuel, LPG etc.</p>

<p>Dozens of reports detailing the severe cracks in these unfortunate institutions have been gathering dust on government shelves. One conclusion comes out of all these reports - - a serious overhauling is necessary. While the NOC needs to be privatized whole, in NEA&rsquo;s case too, there is general consensus among the experts and authorities that most of its current functions need to be privatised.&nbsp;</p>

<p>Both NOC and NEA do make headlines, but almost always for all the wrong reasons. &ldquo;Let there be no room for doubt that these are far from fit corporations,&rdquo; says former finance minister Dr Ram Sharan Mahat, &ldquo;They need huge reforms for the restructuring of the country&rsquo;s energy sector.&rdquo;</p>

<p><img alt="" src="/userfiles/images/cs1%286%29.JPG" style="height:311px; margin-left:10px; margin-right:10px; width:700px" /></p>

<div style="background: rgb(247, 230, 171);padding:10px">
<p><span style="font-size:16px"><strong>National Transmission Grid Company (NTGC)</strong></span><br />
Different ministries hold stakes in the NTGC. Ministries of energy, finance, defense, home affairs, forest and soil conservation, science, technology and environment, and land reforms and management are the promoters of NTGC. The board of NTGC will have representations from all the ministries. The company plans to bring all transmission lines from NEA under its ambit. The company will have an authorised capital of Rs 25 billion and issued capital of Rs 5 billion. Its shares will have a face value of Rs 1,000 each.&nbsp;</p>

<p>Ministry of Energy owns 700,000 units of shares in the company, while NEA and Ministry of Finance hold 500,000 and 400,000 units of shares, respectively. Likewise, Ministry of Forest and Soil Conservation, Ministry of Environment, Science and Technology, Ministry of Land Reforms and Management, Ministry of Information and Communications, Ministry of Defense and Ministry of Home Affairs hold 80,000 units of shares each.&nbsp;</p>

<p>The proposed company plans to introduce a wheeling charge system to generate resources. &quot;The government will decide the wheeling charge for the time being. Later on, it will be decided by the Electricity Regulatory Commission,&rdquo; said Suman Prasad Sharma, secretary at MoE.</p>

<p>According to Sharma, separation of transmission lines related work from NEA by forming the NTGC is the first stage of NEA unbundling. &ldquo;We have also planned to form a Public Generation Company and a Power Trading Company, later. The NEA will only have distribution department with it after separate companies are formed for generation, transmission and trading,&rdquo; said Sharma.</p>
</div>

<p><span style="font-size:16px"><strong>NEA&rsquo;s Woes</strong></span><br />
NEA was established 30 years ago out of the then Nepal Electricity Corporation by nationalising some private power producers and removing some functions of the Ministry of Water Resources. Since then, it has been solely responsible for the development, generation, procurement, transmission and distribution of hydroelectricity in the country. However, it has been able to carry out none of these responsibilities properly and effectively. No change in its structure has been introduced since it was established in 1985. Private producers, energy experts and policy makers are unanimous in their view that this institution with a monopoly over generation, transmission and distribution has not been able to work as per its goal and responsibilities.</p>

<p>As the energy crisis deepens, some even blame that the NEA itself is hindering energy development in the country. &nbsp;</p>

<p>Projects being constructed by NEA including Chameliya, Kulekhani III, Rahughat, Upper Trishul 3A and others are facing problems due to delays, huge variation orders, and compensation claims of contractors. The NEA management, however, has failed to deal with these problems and the projects have been delayed, and cost of construction escalated as a result. Inability to take timely decisions, not making payments as per the bid agreement, and not tackling the problems that arise during construction immediately are the weaknesses of NEA management.</p>

<p>The story of transmission lines is equally sad. Several transmission line projects like Thankot-Chapagaun-Bhaktapur, Khimti-Dhalkebar Pathlaiya-Parwanipur have suffered from various factors like problems in land acquisition, protest of locals, and problems in clearing forests, among others. Delay in construction of transmission lines is affecting power generation from different projects due to there being no way to evacuate the generated power. Slow progress in construction of transmission line projects has remained one of the impediments to hydropower development in the country.</p>

<p>&ldquo;The Upper Sagarmatha Hydropower Project will be ready for commercial production within this fiscal year. But there is no transmission line to evacuate power from this project,&rdquo; lawmaker Gagan Thapa, chairman of the Parliamentary Agriculture and Water Resources Committee (AWRC), says, &ldquo;This means the NEA will have to pay Rs 1.5 billion per year as compensation to the power producing company .&rdquo; According to Thapa, there are other projects as well like those identified as Super Six which could not be started because of the lack of transmission lines. &ldquo;Last year, the government allocated Rs 13.5 billion for building transmission lines. But not even a penny from this budget could be spent. That shows how serious the NEA is regarding transmission lines,&rdquo; observes Thapa.</p>

<p>Projects being constructed in Solu, Koshi, Kabeli, Marsyangdi, Kali Gandaki, Trishuli and other corridors with private investment have been affected with the NEA failing to effectively expand transmission lines. The NEA faces risks of having to pay billions to promoters in compensation if it were to fail to construct transmission lines in time and the promoters were to complete the projects in the scheduled time.</p>

<p>Almost all NEA&rsquo;s problems are related to its structure. It was concluded long back that it&rsquo;s not appropriate to keep NEA as a single body responsible for the development, generation, procurement, transmission and distribution of electricity in the present situation, and that it is better to immediately unbundle it. The task of unbundling three functions of NEA -- generation, transmission and distribution -- was envisioned in the Hydropower Development Policy 2001. But it remained only on paper for almost 14 years.</p>

<div style="background: rgb(247, 230, 171);padding:10px">
<p><span style="font-size:16px"><strong>NEA Fails to Hold Board Meeting</strong></span><br />
Due to internal disputes, NEA&rsquo;s Board meeting hasn&rsquo;t taken place for the past four months. In the absence of the board meeting since Aug 27, the Authority is confined to only its day to day activities.&nbsp;</p>

<p>In the absence of the board meeting, the Power Purchase Agreement (PPA) and the work of transmission along the Solu Corridor and Koshi Corridor have been halted. Similarly, the disbursement of payment to the contractors of &nbsp;under-construction projects, start of new ones and continuation of the work of transmission lines, adding deadline of &nbsp;contractors, filling of internal vacancies and the &nbsp;other important work like staff promotion have all been stalled. ED of the Authority Mukeshraj Kafle says that dragging him into controversy has brought a lot of adverse impact to the organisation. Suman Sharma of the Ministry is, however, optimistic about moving ahead by resolving the problem between the Ministry and the Authority.</p>
</div>

<p>&nbsp;</p>

<p>The government did set up a National Transmission Grid Company (NTGC) in February 2015 to look after the construction of transmission lines but the move faced a stumbling block at the very beginning as the NEA which manages all transmission lines in the country decided not to send its representatives to the board of directors of NTGC. NEA is not in favour of the company and has already made this clear to the government.</p>

<p>&ldquo;We haven&rsquo;t sent our representatives to the NTGC because we think it has been formed without enough homework,&rdquo; says Mukesh Raj Kafle, Managing Director of NEA.&nbsp;</p>

<p>Secretary of the Ministry of Energy (MoE), Suman Prasad Sharma, however, claims that the Grid Company is taking shape. It is necessary to activate it after bringing it into existence, he adds. &ldquo;When it is activated, the work of managing transmission lines shall be taken over by this company,&rdquo; he said.</p>

<p>Independent producers have long been demanding the amendment of the Electricity Act, formation of a National Electricity Regulatory Commission, formulation of a National Energy Security Policy and Land Acquisition Act. But the government seems to be in no hurry. &ldquo;The parliamentary committee has directed the government many times in the past to accomplish these tasks. But the government remains undecided. It is unfortunate that the government has cold-shouldered these much needed policy reforms,&rdquo; complains Thapa. &nbsp;</p>

<p>Energy Secretary Sharma, however, says that the government has already started the process of amending the Electricity Act and that a National Electricity Regulatory Commission will also be formed to regulate the energy sector.</p>

<p>&ldquo;We cannot do everything at once. We have established the Grid Company. Now the paperwork will be carried out for establishing a Generation Company.&rdquo;</p>

<p><img alt="" src="/userfiles/images/cs4%289%29.jpg" style="margin-left:10px; margin-right:10px" /></p>

<p><span style="font-size:16px"><strong>NOC&rsquo;s Problems</strong></span><br />
The supply of petroleum products to the country has remained a critical issue for a long time. The Nepali consumers time and again have to face a fuel scarcity. Almost everyone blames the Nepal Oil Corporation (NOC), the biggest corporation of the country in terms of annual turnover, for the sorry state of petroleum supply in the country.</p>

<p>&nbsp;A number of committees and taskforces have been formed to identify and recommend significant reforms in NOC. A 2002-03 (2059 BS) committee headed by former chief justice Top Bahadur Singh; another in 2004-05 (2061 BS) headed by Shanker Sharma, another in 2010-11 (2067 BS) headed by Bhanu Prasad Acharya; yet another committee headed by Member of Parliament Bhim Acharya; and a high-level 2012-13 (2069 BS) taskforce headed by Sushil Jung Bahadur Rana were major initiatives in this regard.</p>

<p>All studies carried out on NOC so far have the same conclusion &ndash; that the corporation urgently needs reform as well as transparency in its operations and right-sizing of its staff by reducing the burden of non-professional and non-technical personnel. However, none of the recommendations has been implemented so far. The crisis in NOC is such that at times it is not able to pay its monthly import bills on time, leading to a supply cut by the Indian Oil Corporation (IOC), NOC&rsquo;s sole supplier of fuel so far.</p>

<p>The country does not have crude oil sources to meet a rapidly growing national demand for petroleum products which, therefore, have to be imported. But experts say it&rsquo;s time to end NOC&rsquo;s monopoly on the petroleum import business. &ldquo;Forty-year old IOC&rsquo;s monopoly has been broken by signing a fuel supply deal with China. Now it&rsquo;s time to welcome the private sector into the petroleum import business,&rdquo; says Prof Dr Amrit Nakarmi, former General Manager of NOC and Coordinator of Centre for Energy Studies, Institute of Eneginnering.</p>

<p>A state-owned trading company that imports, transports, stores and distributes petroleum products in the country, the NOC was established in 1970 under the Companies Act 1964 to replace the direct trading by some foreign companies in Nepal. It has been working under the same structure since. Its modus operandi has been the same: it procures and imports all petroleum products consumed in the country from the Government of India-owned IOC under a bilateral agreement, which is renewed every five years, the latest being signed in April 2012.&nbsp;</p>

<p>No doubt, the NOC needs to implement serious changes, given its current state of affairs. Most of the myriad problems associated with the supply of petroleum products can be rectified by the government through progressive measures. For instance, petroleum supply has been categorised as an essential service. Therefore, the law prohibits any interference in its supply. However, tankers, pumps and drivers&#39; associations frequently go on strikes. The presence of cartels and syndicates only makes such actions easier. Furthermore, most of these protesting organisations are registered under the NGO Registration Act, 2034, which allows neither collective bargaining nor protest programmes like strikes. Clearly, there has been a failure on the part of the government to enforce the existing law.&nbsp;</p>

<p>It has been revealed that most irregularities occur during the transportation of fuel. Adulteration, strikes and obstructions at custom points are some major problems. In order to counteract these, there are plans to construct a pipeline from Raxaul to Amlekhgunj in the first phase and later extend it to Kathmandu and other points. Discussions with NOC officials have indicated that the payback period of the pipeline project was affirmed to be less than six years after the start of operation. For this, the governments of both India and Nepal must work stringently.&nbsp;</p>

<p>However, it has been learnt that tanker drivers are underpaid (Rs 5,000 to 6,000 per month on average), far below the minimum wage fixed by the government. Despite this low pay, drivers have been working. This implies that there are undue benefits to be had in fuel transportation. Therefore, it should be ensured that the employers pay minimum wages to their employees, along with social security contributions and insurance. This will go some ways towards preventing drivers from taking advantage during transportation.</p>

<p>The NOC was established under the utilitarian approach of the past. However, times have changed and the private sector has grown substantially. Even now, transportation and dispensing of petroleum products are carried out by the private sector. Thus, the gradual privatisation of the supply of petroleum products is essential. However, before liberalising supply, there needs to be a strong regulatory body in place to control quality and pricing.&nbsp;</p>

<p>Industry insiders reveal that the NOC is not too involved in LPG trading, except for issuing purchase delivery orders and dealing finances with the IOC. While the private sector handles distribution, the heavy overhead cost, resulting in a Rs 589.14 loss for each cylinder, is borne by the NOC. It seems the private sector is more competent at LPG trading. Thus, as the first phase of privatisation, it would make sense to hand over LPG trading to the private sector.&nbsp;</p>

<p>In the second phase, import of kerosene and other petroleum products, except for aviation fuel, petrol and diesel, can be given to the private sector so that the NOC can concentrate on supply. However, after gaining enough experience, trading opportunities for the private sector have to be gradually opened.</p>

<p>In the meantime, experts say, the government should think over revamping the NOC. The NOC was established as a public limited company under the Company Act. However, the government is the sole shareholder and the board of directors consists of bureaucrats. Thus, the company is more like a government department rather than a business entity.&nbsp;</p>

<p>&ldquo;Forty percent of shares must be sold to a strategic partner/other stakeholders/public through an initial public offering. By doing so, the NOC will become a real public entity and there will be public participation in top-level management,&rdquo; suggests Nakarmi.</p>

<p><span style="font-size:16px"><strong>Renewable Energy&nbsp;</strong></span><br />
Given the volatility of the international oil market and the country&rsquo;s growing dependency on fossil fuel, it would also be wise for the government to invest in projects that generate other renewable energy, in addition to hydroelectricity. Sixty percent of current diesel consumption is used to generate captive electricity on account of load-shedding, particularly in the dry season. Hydropower would be the most feasible means of substitution. But we have been able to add only about 780MW since the Pharping project was constructed some 104 years ago.</p>

<p>Therefore, the country needs to focus also on biogas and solar power as alternatives to LPG use in the household. Prof Dr Govind Raj Pokharel, former NPC vice-chairman and former CEO of Alternative Energy Promotion Centre, opines that we should focus on producing not only hydroelectricity but also alternative energy. &ldquo;If we can meet 80 to 85 percent of our electricity demand through hydropower, the remaining 15 to 20 percent of electricity can be generated using alternative sources,&rdquo; he says.</p>

<p>Pokharel says the country&rsquo;s mountainous areas are suitable for tapping solar energy. He also advises on the introduction of subsidies on electric vehicles to taper the demand for fossil fuel.&nbsp;</p>

<p><span style="font-size:16px"><strong>For a Free Market</strong></span><br />
It is tempting to think that the current fuel-shortage is just linked to Nepal&rsquo;s constitutional politics and India&rsquo;s blockade. However, Nepal faced a similar situation when India blocked its border 26 years ago in 1989. Both then and now, there was/is a severe shortage of fuel but not of consumer items being imported from India. This is precisely because the latter did come through a competitive market. Granted, in times of shortage, prices go up, but at the very least, customers can buy genuine goods from stores without having to resort to spurious goods from a black market, or be denied the goods altogether.&nbsp;</p>

<p>&ldquo;A competitive market is able to source better, store better, serve better, and plan better than state monopolies. The country&rsquo;s oil market must be liberalised,&rdquo; says Nakarmi.</p>

<div style="background: rgb(247, 230, 171);padding:10px">
<p><span style="font-size:16px"><strong>Govt to Allow Pvt firms, Projects to Import Oil</strong></span><br />
For the first time, the government is going to allow private companies and development projects to directly import fuel, without depending on the state monopoly Nepal Oil Corporation (NOC) for the same. According to a Cabinet decision taken on December 18, industries, diplomatic missions, large development projects including hydropower projects, schools, colleges, hospitals, star hotels, media houses and Class A banks will soon be allowed to import fuel for their own consumption.&nbsp;</p>

<p>The decision will be implemented once it is published in the National Gazette and will be in effect for three months, according to a source. According to a source, the government will issue permits to import oil to those who run essential services and are big consumers of oil. For this, the companies will have to submit an application to the Department of Commerce. However, such applications should include recommendations from the supervising bodies. For example, hotel will need a recommendation from the Department of Industry, hydropower projects from the Ministry of Energy, schools and colleges from the Department of Education, banks from Nepal Rastra Bank, diplomatic missions from the Ministry of Foreign Affairs and so on. They will also have to submit a plan explaining the amount of import and its consumption.&nbsp;</p>

<p>The government will collect revenues of Rs 5,001 from each oil import permit issued. &ldquo;Once all procedures are completed, the Department will issue permits. Then those getting the permits for oil import can open LC,&rdquo; said Shambhu Prasad Koirala, Director General of the Department of Commerce and Supply Management. &ldquo;Those who will be issued the permits can import oil by paying the required customs duty. They can also use Nepali tankers to import oil,&rdquo; he added.</p>

<p>But for importing oil from the Indian Oil Corporation, NOC&rsquo;s Indian supplier, a &lsquo;no objection&rsquo; letter from NOC will be required. &ldquo;However, the permit alone would be enough for importing oil from other companies, Indian or otherwise,&rdquo; said Koirala.&nbsp;</p>

<p>The government has already allowed 22 private companies to import oil. However, only one company so far &ndash; Petromax &ndash; has been able to import fuel. The company has been importing aviation fuel from India. However, observers said as India&rsquo;s unofficial blockade against Nepal continues, importing fuel from India will be a tough task for even those who need a regular supply of oil and that&rsquo;s why the government is allowing them to directly import fuel for their consumption.</p>
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			'title' => 'The Developing Development Dilemma',
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			'short_content' => 'Some might think that nothing has happened in Nepal or that Nepalis have seen no progress. But, the reality is not like that. Nepalis have been continuously treading the path of progress. Like in the song Yo Nepali Sheer Uchali Sansarma Lamkanchha...',
			'content' => '<p><strong>--By Madan Lamsal</strong></p>

<p>Some might think that nothing has happened in Nepal or that Nepalis have seen no progress. But, the reality is not like that. Nepalis have been continuously treading the path of progress. Like in the song Yo Nepali Sheer Uchali Sansarma Lamkanchha (This Nepali will walk through the world holding the head high), some Nepalis have turned on the lights of development and are shining in the world.&nbsp;</p>

<p>If the country hasn&rsquo;t achieved the kind of progress it wants, don&#39;t forget that the political leaders have made a lot of progress. That&rsquo;s fair enough. We cannot build a rich country without building rich politicians. Our thoughts are narrow-minded and so we resort to protests and strikes even over such small things. A case in point is the protests made against Home Minister Shakti Basnet when he arranged, for some of his near and dear ones, a trip to the land of his idol, Late Chairman Mao! Who will want to be a minister if s\he cannot even do such little things?</p>

<p>Nepal is no more just Nepal; it&rsquo;s now become the Federal Democratic Republic of Nepal. This change (even if it is just in name) has been made possible by the blood, sweat toil and tears of the Nepali people. It&rsquo;s not that this change &ndash; from Nepal to the Federal Democratic Republic of Nepal - became possible through an 8- or 12-point agreement facilitated by any other country. Certainly not India!</p>

<p>So, going by the country&rsquo;s new name, we have just entered the phase of federalism. Once this is sorted out, we will enter the democratic phase and then, finally, the republic phase. What is the point in running out of patience at this early stage of federalism?</p>

<p>Federalism will come once the politicians, their families and near and dear ones have developed first. Democracy will follow the arrival of federalism. Then, after democracy, republicanism will come. And only after that, Nepal&rsquo;s development. This has been scripted in the new constitution &ndash; Federal Democratic Republic of Nepal. Look which word comes first and which next. You should be able to understand what&rsquo;s written!</p>

<p>Thus, we are still in an evolution process. Just because some of us have gone abroad and seen the progress there, it is not appropriate for us to talk big about development here. The time for us to venture towards an open society and open economy hasn&rsquo;t come yet. Right now, we are in the stage of shutdowns. We will talk about opening something once everything is shut down. We have just entered the age of declaring &ldquo;open urination and defecation free areas&rdquo;. Going by this measure, we are about 200 years behind the developed countries. It&rsquo;s a different thing altogether that we were either better off or on par with most of today&#39;s developed countries 200 years ago. It&rsquo;s just a matter of time. Sometimes, they are ahead, sometimes we are behind.</p>

<p>The country has seen a lot of progress since the promulgation of the new constitution. This is all public knowledge. The latest progress is that the Constitution Amendment Bill and the Reconstruction Authority Bill were tabled in the parliament and the latter was passed without delay. This has opened the way for those in the government to appoint their people at institutions like the Reconstruction Authority and the National Planning Commission. It is said the vice-chairman of the Authority will be recommended by the Nepali Congress (NC). This means the party will get its fair share of the reconstruction budget pie. In yesteryears, the NC too had filled up such posts with their own people. Today, the UML and the UCPN (Maoist) are doing just the same thing. All that is left now is the Madhesi Front. If the ongoing talks bear fruit, the Front too will come to the forefront to claim its share. Then the number of deputy prime ministers will surely go up from the present six. If this rises to eight, then Nepal will once again become a talking point for the world.</p>

<p>In fact, our leaders have already made Nepal an example for the world. For example, Nepal has become the country which somehow functions despite having the highest number of shutdowns. This year has been a year of shutdowns, so far.&nbsp;<br />
A recent report has shown Nepal as the poorest country in South Asia. Our leader&rsquo;s farsightedness is reflected in this report as well. It&rsquo;s not for nothing that the Nepali leaders are famous the world over; how can the developed countries, which hesitated to provide reconstruction aid to Nepal after the earthquake, sit back and not help Nepal now?</p>
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			'id' => '1393',
			'magazine_issue_id' => '957',
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			'title' => 'TeliaSonera’s Exit ',
			'image' => '20160112123354_ed.jpg',
			'short_content' => 'TeliaSonera’s December deal to sell its shares in Ncell to Malaysia’s Axiata cannot be viewed in Nepal simply as a business decision by two companies. Some indications of the gravity of the situation were already there when the Scandinavian company had announced in September its plan to exit former Soviet Union countries as well as Nepal.',
			'content' => '<p>TeliaSonera&rsquo;s December deal to sell its shares in Ncell to Malaysia&rsquo;s Axiata cannot be viewed in Nepal simply as a business decision by two companies. Some indications of the gravity of the situation were already there when the Scandinavian company had announced in September its plan to exit former Soviet Union countries as well as Nepal. That announcement had come after TeliaSonera got embroiled in scandals in those former Soviet Union countries and was tired of unsuccessful efforts to take dividends from Nepal. Against this background, the nature of the deal which it has signed with Axiata now portends some more problems with Nepal that are likely to arise in the course of its implementation.&nbsp;</p>

<p>TeliaSonera&rsquo;s ownership in Ncell is not direct. The Scandinavian company holds Reynolds Holdings which in turn holds 60.4% shares in Ncell. And Axiata is buying 100% of Reynolds as well as the 19.6% of Ncell shares held by Visor, an investment firm of Kazakhstan. Thus the share transaction will not take place in Nepal. Reynolds is likely to remain the legal owner of Ncell. As a result, Nepal&rsquo;s tax authority will not be able to get money from this deal. They have to be content with what they can squeeze out of the share transfer between the local shareholders who own only 20% in Ncell.&nbsp;</p>

<p>But as both TeliaSonera and Axiata have their countries&rsquo; respective governments as their partial owners and the deal is announced publicly by both companies, the Nepali authorities might try to ask for taxes (such as capital gain tax) according to Nepal law citing examples from other countries and thereby delaying the process. Nepali authorities are notoriously good at creating hurdles to stop something from happening.&nbsp;</p>

<p>All will be well if TeliaSonera pays as demanded and peacefully gets out of the problem that it was facing in taking the dividends out. But if it thinks otherwise and tries to fight it out, that will send negative signals to all other foreign investors that may be thinking of entering Nepal and that will include Axiata as well. More importantly, it may seriously hamper the operations of Ncell itself, a company recognised as a model of management excellence in Nepal.&nbsp;</p>

<p>It may be recalled that Ncell was recognised as the best managed company of the year in 2014 by a panel of judges consisting of well-known experts from the fields of Economics, Management, Banking, Accounting and Public Administration under NewBiz Conclave and Awards. Also to be noted is the fact that it was the fierce competition posed by Ncell that compelled government owned Nepal Telecom to be innovative and competitive, thus benefiting the general Nepali consumer. &nbsp;</p>

<p>This deal between TeliaSonera and Axiata also highlights other serious flaws in Nepal&rsquo;s legal system. For example, the compulsory requirement of 20% shares to be in the hands of Nepali investors in this type of company is clearly unnecessary and needs revision. As this did not stop TeliaSonera to control such a 20% stake, it is not going to stop Axiata either from doing the same. &nbsp;</p>

<p>However, if everything goes smoothly and Axiata does finally enter Nepal&rsquo;s telecommunication sector, that should be a welcome development. Nepali consumers can expect similar types of innovation in Nepal as is happening in India through Idea Cellular in which Axiata is an important stakeholder.</p>
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			'title' => 'What Does India Want?',
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			'short_content' => 'What does India want from Nepal? This is the question on everyone’s lips – from the meetings attended by the Prime Minister to private dinner tables, to coffee and tea shops. The other question that follows is: why did India impose the unofficial blockade against Nepal?',
			'content' => '<p><strong>--By Akhilesh Tripathi&nbsp;</strong></p>

<p>What does India want from Nepal? This is the question on everyone&rsquo;s lips &ndash; from the meetings attended by the Prime Minister to private dinner tables, to coffee and tea shops. The other question that follows is: why did India impose the unofficial blockade against Nepal?</p>

<p>The blockade has been going on for more than three months now. But the country is still waiting for the answers. Even those who are supposed to be in the know don&rsquo;t know. &ldquo;I thought I understood India and knew what she wants from Nepal. But the blockade has proved me wrong. I haven&rsquo;t been able to fathom out what India wants from us this time,&rdquo; replied a bemused Nepali Congress Central Committee member.</p>

<p>He is one among those who do not subscribe to the theory that India imposed the blockade because the Madhesis were not included in the constitution promulgation process. Although, he makes a guess and says, &ldquo;This time India wants something big. What the Madhesis want and what India wants are different. That&rsquo;s why India welcomed the three-point roadmap that the Nepal government recently made. But the Madhesis have ignored it.&rdquo;</p>

<p>Perhaps, the NC leader has a point there. But that still doesn&rsquo;t answer the main question &ndash; what does India want from Nepal?</p>

<p>When nothing is said officially (India has even officially denied that it has imposed any blockade against Nepal, calling the &lsquo;problem seen at the border&rsquo; a result of Nepal&rsquo;s own internal matters), people are bound to speculate and wonder.</p>

<p>One speculation is: the current BJP-led Indian government didn&rsquo;t like the declaration of Nepal as a secular state. So as a pressure tactic, it imposed the blockade so that Nepal would revert back to a Hindu state. It&rsquo;s true that Prime Minister Narendra Modi&rsquo;s BJP is a pro-Hindutva party. But given the fact that India itself is a secular country, it is hard to digest that it would go to the extent of mounting a blockade to force Nepal to give up secularism and become a Hindu state again.</p>

<p>Another popular speculation is: India&rsquo;s eyes are set on two major Nepali rivers, Koshi and Karnali. India wants these two rivers to fall in Madhesi-dominated states by redrawing state boundaries. According to the believers, the blockade is an implicit use of force by India to make Nepal tow that line.&nbsp;</p>

<p>However, this theory too doesn&rsquo;t hold much water. It is true that Nepal&rsquo;s rivers are a matter of interest as well as concern for India. Because India needs energy and that can be obtained from Nepal&rsquo;s rivers. However, hydropower cannot be extracted from the Nepali rivers once they enter India or even the Madhes. Similarly the rivers flowing from Nepal cause floods in India every year and India wants to construct dams to control these rivers and such dams cannot be constructed once these rivers enter India. These are logical points. But what is illogical is the blockade was imposed to achieve these objectives. The new constitution clearly says that projects related with water resources will come under the jurisdiction of the central government; so it doesn&rsquo;t really matter which province the rivers fall in when the state boundaries are redrawn.</p>

<p>So, what does India want? The answer perhaps has to be found in the three-point roadmap which the Nepal government recently endorsed with the aim of addressing the demands of the agitating Madhesi Front through the amendment of the new constitution. India has already welcomed this roadmap. Nepal government on December 20 decided to advance the Constitution Amendment Bill, which is already registered in the legislative parliament, with the aim to ensure proportional inclusion and electoral constituencies on the basis of population, redraw state boundaries through a political committee within three months and resolve the current crisis in the Terai districts.</p>

<p>There was no need for a blockade to make the Nepali politicians agree for proportional representation and electoral constituencies based on population. Then what was the blockade for? For the state boundaries to be redrawn so that Koshi and Karnali would fall in Madhes or Tharuhat provinces? But we already rejected this theory.</p>

<p>Meanwhile, Mahanth Thakur, the leader of the Madhesi Front said on Dec 29 that the Front would change the form of its protest programme from border blockade to other forms. That means the more than three months long blockade could come to an end soon.&nbsp;</p>

<p>It is still not clear what India and the Madhesi parties wanted to achieve from the blockade initially. But at present, it seems, India wants a face saving and the Madhesi parties a safe landing. &nbsp; &nbsp;&nbsp;</p>

<p>Meanwhile, something about the KP Oli government. The honeymoon period is not over for the KP Oli government. It hasn&rsquo;t been even three months since Oli took the reins of the country in his hands. Talking about his achievements, it&rsquo;s enough to say that though he has already appointed half a dozen deputy prime ministers, his cabinet is still incomplete. Madhes is still agitated. India&rsquo;s unofficial blockade still continues.</p>

<p>The general perception is the Oli government hasn&rsquo;t achieved much. This is not a good sign. He has sent one of his deputies to China to, among other things, strike a petroleum supply deal. But the government is yet to make it clear how it will bring petroleum from China in the absence of efficient connectivity between the two countries.</p>

<p>Most likely, everybody, including the government will forget everything once fuel supply from India becomes normal. &nbsp;&nbsp;</p>
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			'content' => '<p>Biztoon January 2016</p>
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		'MagazineArticle' => array(
			'id' => '1396',
			'magazine_issue_id' => '957',
			'magazine_category_id' => '86',
			'title' => 'Exploiting Potentialto the Maximum',
			'image' => null,
			'short_content' => 'We should now try to find a solution to end another similar situation  from occurring which could throw us into chaos when our relations  with a neighbouring country grow cold.',
			'content' => '<p><strong>--By Ashok Kumar Baidya</strong></p>

<p>Vietnam, a once war-ravaged South-east Asian country has set itself up as a model for development in a short period of time. This shows that economic independence is possible if there is strong will and commitment. We should understand that economic independence today is prosperity achieved through the maximum use and exploitation of one&rsquo;s own available resources. In Nepal&rsquo;s context, it should be understood as the exploitation of resources like tourism, hydroelectricity, agricultural products, herbal products and &nbsp; minerals. Nepal is not only landlocked like Switzerland, it is also endowed with natural beauty. We have a reservoir of human resources which remains underused. It can help us to achieve self-reliance if we use it properly. If the countries of the Middle East have presented an example of development by using Nepali human resources, there is no reason why we cannot make good use of this resource.&nbsp;</p>

<p>Singapore has developed by itself significantly even from a situation of low industrial base. Switzerland has created a self-reliant economy despite its land-locked status. These countries made their disciplined human resources and tourism as their base for a self&ndash;reliant economy. There was a time when Nepal used to export rice to India, Bangladesh, Burma and other countries. Now the situation has changed completely. Instead, we are importing rice on a huge scale annually. I still remember when my father used to export rice to Andhra Pradesh in India. Now Andhra Pradesh itself produces sufficient rice.&nbsp;</p>

<p>The potential in hydro-electricity can be used to make Nepal self-reliant. &nbsp;We can earn billions of rupees from this. But we have lagged behind because of our failure to exploit these potential areas. &nbsp;We could not generate electricity from hydroelectricity projects like Arun III even after 20/25 years, whereas a small country like Bhutan has been transforming hydro-electricity into earnings.&nbsp;</p>

<p>We have an equally bright potential in tourism. In addition to our natural scenery, we also have religious tourism which can help promote a self-reliant economy. It&rsquo;s true that we are land-locked but if land-locked Bhutan can achieve economic progress despite limited resources, then there is no reason why we cannot do so. Because of geography, it is easier for us to trade with India than with China though we should maintain friendly relations with both neighbours. &nbsp;<br />
&nbsp;&nbsp;<br />
Nepal shares an almost 2000 kilometre open border with India. Most of the border points are functioning. With regard to China, only the Tatopani border point is in a functioning state. That, too, is now almost dysfunctional due to the earthquake last April. Now there is talk about opening other border points also. The diversification of trade is a good thing. It will benefit the national economy. But the difficult geography and long distance should also be taken into account. This is why the trade with India is more important.</p>

<p>&nbsp;In my opinion, we should start removing the present hurdles at the diplomatic level. India had imposed an official blockade against Nepal in 1989 but the question arises as to why we did not take precautions against such a possibility happening again? We should now try to find a solution to end another similar situation from occurring which could throw us into chaos when our relations with a neighbouring country grow cold. For this, we need to achieve self-sufficiency in things we can produce and should have a sufficient stock of what we must import. We failed to demonstrate our diplomatic sharpness over the issue of laying pipe lines to supply petroleum products. This is being talked about lately but is yet to take on any momentum. The supply of petroleum products is of strategic importance. We need strong economic diplomacy to realise it.</p>

<p>India needs sufficient electricity for its industries. If Nepal can increase its capacity to use its hydro-electricity potential, there will be interdependence between Nepal and India which will be to our benefit. For a self-reliant economy, trade and industrial policies should be flexible and the private sector friendly. And the private sector forms the basis of our economy. We need to have a long term plan and concrete ideas. If we focus on the above mentioned resources for the next ten years, we can, in my opinion, create a self-reliant economy. Political stability is also one of the basic prerequisites for a self-reliant economy. During my term at the Birgunj Chamber of Commerce and Industries, we had succeeded in signing a 12-point Agreement by bringing together five former prime ministers. If the political parties implement this, it will help lay the foundation for a self-reliant economy.</p>

<p style="text-align: right;"><em>The writer is former president, Birgung Chamber of Commerce and Industries.</em></p>
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			'title' => 'Beyond the Rhetoric of Self-reliance',
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			'short_content' => 'It is necessary to take a bottom-up approach to develop our country. We have made several mistakes in the past in the areas of economic development.',
			'content' => '<p><strong>--By Pradeep Kumar Kedia</strong></p>

<p>Though all the dimensions of an economy are not always independent, immense possibilities exist, if we make the effort. We only lack the will and zeal. We need to do some extensive home work. It will not take long to consolidate a foundation for a self-reliant economy if the government, private sector and the political parties start doing this from their respective areas. The economies of Singapore and South Korea have shown what can be done if there is a will and integrity of purpose.</p>

<p>We will soon stand in the row of prosperous nations if we move ahead with a determination to attain prosperity. We can achieve that goal by effectively mobilising our internal resources and potential. It is necessary to take a bottom-up approach to develop our country. We have made several mistakes in the past in the areas of economic development. As a result, we are not only perpetually dependent but are also suffering from external domination. We need to move ahead by correcting our past mistakes.&nbsp;</p>

<p>Though it is not new knowledge in that we can make hydro-electricity as the mainstay of Nepal&rsquo;s economy, we have not been able to establish a new outlook and thinking with regard to its use. The production and use of electricity has only remained a rhetorical exercise. We are selling our unskilled labour in the overseas job market. &nbsp; If we could send skilled manpower, we could earn three times as much. &nbsp;A skilled worker enhances income. It could help a country, which is being sustained by remittances, immensely.&nbsp;</p>

<p>Though Nepal is small from a geographical point of view, it has a diverse topography and climate. There is a difference in the ground realities of Taplejung in the east and Darchula in the west. Farming flourishes in the hills of Nepal. Many kinds of agricultural products are possible because of the diversity of the climate. We are getting to consume agricultural products even when they are out of season. If appropriate technology is introduced, there is no reason why we cannot profit from agriculture. We should give emphasis on products of comparative advantage.</p>

<p>We have not yet adequately exploited the potential that tourism has. In the past, tourists stayed only for 2/3 days but their visits have lengthened after the trekking infrastructure was improved. If we can identify and advertise potential areas, the possibility of earning from tourism is also not unattractive.&nbsp;</p>

<p>It is necessary to enhance export to promote self-reliance. We are now dependent on India and a few other countries. We should expand our search for alternatives. Currently, we depend on India for petroleum products but we can find an alternative source. If we develop hydro-electricity, the quantity of petroleum imports will naturally come down. It will also help us to reduce the trade deficit. We can also earn a lot by selling electricity.</p>

<p>We have a habit of taking action only after we feel the pinch. You don&rsquo;t open a hospital only after you get sick. The infrastructure for the treatment and prevention against diseases is necessary. Why can&rsquo;t we be self-sufficient? This is something we should think about. We could not learn the lesson from the blockades of the past. Even today, we are just parroting the rhetoric when it comes to self-reliance.</p>

<p>There was obstruction at the border, so why did the government fail to operate our own dry port in time? If the goods were transported to other places in time, the magnitude of the loss would have been less. There are thousands of containers with goods still stuck at the Kolkata port. We are ourselves at fault here. We cannot just keep on pointing fingers at others.&nbsp;</p>

<p>We are India-locked from three sides and have China on one side. The trade with China has increased lately. &nbsp;More border points may be opened in the future. We can bring goods from anywhere by paying money because it is the age of open market and globalisation. What is needed is a liberal attitude on regulations and policies. In future, relations may sour with China also. A sense of uneasiness over trade with any neighbour may always exist. We should have adequate precautions in place to deal with such a possibility. We cannot exonerate ourselves by blaming others. Self-reliance is the only alternative.</p>

<p style="text-align: right;"><em>The writer is President, Birgung Chamber of Commerce and Industries.</em></p>
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			'title' => 'Biz News January 2016',
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			'short_content' => 'The press release stated that TeliaSonera divests its direct ownership of 60.4 percent to Axiata for USD 1,030 million on an cash and debt free basis, Ncell had a net cash position of approximately USD 284 million, after purchase price adjustments, as of September 30, 2015, and TeliaSonera will be paid for the cash position at closing in proportion to its economic interest of 80.4 percent.',
			'content' => '<p><span style="font-size:16px"><strong>Digital Signature Launched</strong></span><br />
President Bidya Devi Bhandari, Prime Minister KP Sharma Oli and Information and Communications Minister Sher Dhan Rai jointly launched digital signature for the first time in the country on Dec 2. For the time being, digital signature has only been implemented in government offices. But the authorities said, it would soon be available for the general public as well.</p>

<p>&ldquo;The introduction of the digital signature is a milestone in the area of electronic governance,&rdquo; said Bhandari.&nbsp; Similarly PM Oli emphasized on how the use of digital signatures will save time, create credibility, quality and help in social transformation. &ldquo;The use of digital signatures will be important in business, government and community centre work,&rsquo; he said.</p>

<p>Digital signature is a special government certified identification code which is used to authenticate digital information such as documents, e-mail messages by the sender or the signatory and ensures that the document is unchanged and genuine.</p>

<p>International Finance Corporation (IFC) and Word Bank have assisted the government in the implementation of digital signature in government offices. Radiant InfoTech Nepal (RIN), the certifying authority, has formally opened digital signature registration for the public.</p>

<p><span style="font-size:16px"><strong>5th National Robotics Competition</strong></span><br />
The Robotics Association of Nepal (RAN) organized the 5th National Robotics Competition during Yantra 4.0 Art, a tech and science festival, in association with Karkhana and Siddhartha Art Foundation Education Initiative. The robotics competition was held on Dec 19.</p>

<p>Tech enthusiasts and robot makers from schools, college and freelance professionals participated in four different events and competed with each another in terms of knowledge, skill and design. &ldquo;We have been creating this platform for the last four years &hellip;and more than 1000 students have already gained the knowledge of robotics,&rdquo; said RAN Media Coordinator Ramesh Ghimire.</p>

<p><span style="font-size:16px"><strong>Diesel from Plastic Waste: NAST</strong></span><br />
Nepal Academy of Science and Technology (NAST) says it will produce diesel from plastic waste within a few weeks. The announcement comes at a time when the country is reeling under an acute fuel shortage due to India&rsquo;s blockade.</p>

<p>&ldquo;We are searching for alternatives to oil,&rdquo; said Birendra Dhakal, bio fuel research head at NAST. &ldquo;This type of diesel is widely used in Japan. The fuel is prepared by melting plastic and converting it into hydrocarbon. The potential for this in Nepal is high,&rdquo; he added.</p>

<p>According to Dhakal, current methods can produce seven litres of diesel using 10 kilo grammes of plastic. However, a maximum of nine litres of diesel can be produced using thicker plastic. &ldquo;We are shifting our point of study and are focusing more on producing high quality fuel at effective costs,&rdquo; said Dhakal.</p>

<p>The government has already put Rs 10 million into the project. The machine used in the production process is being imported from China.</p>

<p>Around 75 metric tonnes of solid waste is accumulated everyday from Kathmandu Metropolitan area. &ldquo;At least 15 percent of the solid waste is plastic waste,&rdquo; said Raviman Shrestha, Environment Management department head of Kathmandu Metropolitan City. The study conducted by NAST reveals that 40,000 litres of diesel can be produced daily from plastic waste.</p>

<p><span style="font-size:16px"><strong>ICAO Invited to Assess Aviation Sector</strong></span><br />
A team from the International Civil Aviation Organization&rsquo;s (ICAO) Asia-Pacific division will be arriving in Nepal in mid February to inspect and asses Nepal&rsquo;s aviation sector. The team is coming to Nepal at the invitation of the Civil Aviation Authority of Nepal (CAAN). After the inspection, the team will recommend to the ICAO to audit Nepal&rsquo;s aviation sector, according to Rajan Pokhrel, deputy director general of CAAN&rsquo;s Civil Aviation Safety Regulation Directorate.</p>

<p>&ldquo;The ICAO audit will be crucial for removing Nepal&rsquo;s aviation sector from the blacklist of the European Union. Nepal can get off the list if the verdict of the audit is positive,&rdquo; said Pokhrel.</p>

<p>According to Pokhrel, the ICAO team will assess eight areas: legal structure of Nepal&rsquo;s aviation sector, organisational structure, individual and organisational licensing, airplane maintenance, investigation after airplane accidents, airport and its services. The findings of the audit will decide if Nepal can be removed from EU&rsquo;s black list.</p>

<p>The EU has continued to blacklist Nepal&rsquo;s aviation sector accusing it of not making satisfactory improvements. But Pokhrel said he is confident that improvements were being made and that the aviation sector will be removed from the black list within a year.</p>

<p><span style="font-size:16px"><strong>Infrastructure Company &lsquo;Emerging Nepal&rsquo; Established</strong></span><br />
An infrastructure company is all set to come into operation with the investment of industrial groups, former administrators and bankers. Named &lsquo;Emerging Nepal&rsquo;, the company has decided to invest in roads and hydroelectricity projects at the first stage. It has also planned to revive ailing industries by investing in them or taking over their management. &lsquo;The company will concentrate on the development of most essential infrastructures for economic development&rsquo;, Chairperson of the company, Lalmani Joshi said. The company has been established with a view to invest in infrastructure development, initiate consultancy services and to undertake feasibility survey for the infrastructure development. The company was registered at the office of the Company Registrar on 17 August 2015.</p>

<p>The company&rsquo;s authorized capital is 5 billion rupees while its paid up capital is 100 million rupees.&nbsp; It will be increased as per need. The government has invested 500,000 rupees in the company.&nbsp; In addition to that, there is investment of business houses, industrialists, administrators, bankers and non-resident Nepalis. &ldquo;Though the company is in the stage of starting the operation by collecting paid up capital, it is delayed somewhat&nbsp; due to the unofficial blockade as well as for the time consumed in the process of the appointment of the company&rsquo;s CEO,&rdquo; he said. The management of the company has claimed that it will come into operation by the end of this fiscal year at the latest.</p>

<p>The company will be operated on public-private partnership basis. &lsquo;We will in fact present ourselves as a model of public-private partnership&rsquo;, Joshi said.&nbsp; According to him, the investment of the government in the company will increase the confidence of national and international institutions on this company increasing the possibility of attracting more investments.&nbsp; However, it is structured in such a way that the private sector will take up its management responsibility. According to the investors, this will facilitate many things ranging from policies and infrastructure building. &nbsp;</p>

<p>The company is also visualized as a &lsquo;think tank&rsquo; in addition to its role to organize trainings and seminars. It has an objective of investing in infrastructure; provide infrastructural support to other organizations and to offer consultancy services when asked for. According to Joshi, the company may also issue bonds and debentures with prior permission from Nepal Rastra Bank.&nbsp; It may also contribute to develop financial, educational and medical hubs in some areas of the country.</p>

<p>Renowned business people like Manoj Bahadur&nbsp; Shrestha from Himalayan Bank, Chandra Dhakal from Global IME Bank, Industrialist Shrawan Kumar Agrawal, Senior Vice President of&nbsp; Confederation of Nepalese Industries Haribhakta Sharma and Business Houses such as Vishal Group, Sanghai Group, Murarka Organisation, Golchha Organisation and Jyoti Group are also participating in the company. Former finance secretary Rameshwor Khanal and retired officers from various banks are also part of the company.</p>

<p><span style="font-size:16px"><strong>Illegal Transactions of Indian Currency Flourish</strong></span><br />
The blockade at the Nepal-India border has triggered illegal transactions of Indian currency together with the smuggling of other goods including petroleum products.&nbsp; According to officials of the exchange department of Nepal Rastra Bank (NRB), the demand for Indian currency has increased due to the use of the currency by petty traders and smugglers.</p>

<p>&ldquo;The demand for Indian currency is growing at an unsustainably high rate,&rdquo; said an official of the department.&nbsp; According to him, Indian Rupees 100 is being exchanged for Nepali Rupees 170 to 200 in the Terai.&nbsp; NRB has fixed the exchange rate of 160 Nepalese rupees for 100 Indian rupees. As the Nepali currency is pegged with the Indian currency, the exchange rate remains fixed in formal transactions.&nbsp; With the increase in the use of Indian currency in smuggling, people are buying Indian currency at a higher rate. &nbsp;</p>

<p>Lately, the local business people are reported to be bribing up to 200,000 rupees to Indian police to free their goods at the border.&nbsp; As this payment is also made in the Indian currency, illegal transaction of currency is flourishing.</p>

<p>Black market and smuggling have become widespread after the blockade badly affected the import of goods through the formal channel.&nbsp; In the month of October of last fiscal year, goods worth Rs 40 billion were imported from India to Nepal.&nbsp; The value of the import carried out in the same month of the current fiscal year was only Rs 14 billion. In the three months of the current fiscal year, Nepal has imported goods worth Rs 80 billion. The value of import was Rs 123 billion in the same period of the previous fiscal year.</p>

<p><span style="font-size:16px"><strong>Prabhu Group Set to Fly High</strong></span><br />
Prabhu group has taken a big step into the airline business after purchasing a 55 percent stake in Muktinath Airlines. Even though the purchase happened two months ago, Muktinath recently changed their brand name, says general manager Binod Thakali.</p>

<p>The group has also ordered an R-66 Helicopter from the US based airlines company Robinson Helicopter Company for Rs 100 million. The helicopter can fly up to 14000 feet, said Thakali.</p>

<p><span style="font-size:16px"><strong>3,600 Heavy Equipment Lying Idle since September</strong></span><br />
Ninety percent of heavy equipment has been lying idle since September as under-construction infrastructure sector projects have been brought to a complete halt because of the scarcity of petroleum products. According to Tara Bahadur Kuwar, president of the Heavy Equipment Association of Nepal, out of the 4,000 heavy machineries in the country, nearly 3,600 are lying idle and only about 400 are operating in the Western region and in areas near the Indian border.</p>

<p>Construction entrepreneurs say that heavy machineries are lying idle for the lack of fuel because of the Indian blockade. They also complain that as some equipment were still at the construction sites, there was a risk of their parts being stolen and their engines falling into disrepair. Kuwar said that the government should provide fuel for bringing these machineries to safety. Construction entrepreneurs feel that they can prevent these machineries from going out of order if they are provided fuel on a daily or weekly basis.</p>

<p>&nbsp;In Nepal, heavy machineries are used mostly in hydroelectricity projects, cement factories, stone quarries, sand excavation, crusher industries, brick kilns, bridge construction, and road widening and pitching of roads.&nbsp; &ldquo;This situation has emerged because no project has started operation since the beginning of the current fiscal year,&rdquo; entrepreneurs say. Some projects have, however, managed to continue operation by buying fuel even at a higher price.</p>

<p>According to Heavy Equipment Entrepreneurs&rsquo; Association, Rs 40 billion has already been invested in this sector. On an average, a heavy machine costs Rs 6 million. &ldquo;Most of the entrepreneurs have not been able to even pay their installments to banks,&rdquo; said Kuwar. According to him, out of the total investment, 50 percent of investment comes from loan. So far,&nbsp;&nbsp; a loss of Rs 3.36 billion has already been incurred. The monthly loss is Rs 840 million. One unit of Heavy equipment gives a monthly business turnover of around Rs 200,000.</p>

<p>About 20 thousand workers have been directly affected because of so many heavy machineries lying idle. According to the association, there are 2,500 backhoe loaders out of four thousand pieces of heavy equipment. Likewise, there are 500 loaders, cranes and dozers. Out of 2 thousand excavators, about 1 thousand are in irreparable condition. In addition to this, there are 200 platform trailer trucks for carrying heavy equipment lying completely idle.</p>

<p><span style="font-size:16px"><strong>Rastra Bank to Exit Gurkha Bank Mgmt</strong></span><br />
Nepal&nbsp; Rastra Bank is preparing to leave the management of Gurkha Development Bank by mid January. Gurkha Development Bank and Kathmandu Finance have called special general meeting of their respective shareholders with a plan for merger. The Rastra Bank source has said that it will endorse the merger and handover management within a week of the general meeting. Gurkaha was declared a troubled bank on 25 March 2011 andNepal Rastra Bank had taken control of the management of the bank on 3 January 2013. The management of the Bank is being handled at present by Muktinath Sapkota and Drishnasharan Fuyal from the Rastra Bank.</p>

<p><span style="font-size:16px"><strong>Merger with Kathmandu Finance</strong></span><br />
According to the Due Diligence Report prepared by Nepal Rastra Bank,&nbsp; the paid up capital of Gurkha Bank&nbsp; has come down to 10.9 million rupees from 661.6 million. On the basis of the final DDA report of both the institutions&nbsp; the share swap ratio has been fixed at 1:1.&nbsp; Though the Kathmandu Finance has been issuing rights shares at the ratio of 1:1, the paid up capital of the merged institution is expected to reach only 509 million rupees. If it becomes a development bank after the merger, it has to raise its paid up capital to 800 million rupees by June 2017&nbsp;&nbsp; as per the new directive of the Rastra Bank. Since the paid up capital is not likely to reach the required level, there is a strong chance of the merged institution to become a &lsquo;c&rsquo; class finance company. &nbsp;</p>

<p>The name of the merged bank is yet to be finalized. Gurkha had initially 22 branches, but it has come down to five branches after it sold some of its branches. Kathmandu Finance, however, is planning to buy three branches. With this, the number of branches of the new institution will reach eight. The last transaction of the shares of Kathmandu Finance in the stock exchange had taken place on 26 May 2015 at the rate of Rs. 141 per share.</p>

<p><span style="font-size:16px"><strong>The changes Gurkha Bank introduced &nbsp;</strong></span><br />
Gurkha bank had an accumulated loss of 1.37 billion rupees when NRB had taken control over it but this has&nbsp; now been reduced to 445.9 million rupees. Recently it was able to recover 350 million rupees out of the loan issued to Abdul Kawadi and Krsi Premura Properties for constructing JSB Financial Tower. &nbsp;</p>

<p>The capital adequacy ratio was negative 40 percent but it has now come down to negative 11 percent The ratio of bad loan on the total loan was&nbsp; 80 percent until some months back, but it has come down to about 70 percent by early December.</p>

<p><span style="font-size:16px"><strong>Nepal Vocational Qualification System Project Launched</strong></span><br />
With an aim to increase workforce skills and competency, the Ministry of Education (MoE) and the Swiss Foundation for Technical Cooperation (Swisscontact) have jointly agreed to establish a National Vocational Qualification System (NVQS) project. The NVQS project which will be under the MoE, will be implemented by the Council for Technical Education and Vocational Training (CTEVT) / National Skills Testing Board ((NSTB). Swisscontact will provide the technical assistance.</p>

<p>The NVQS project, which is slated to stretch over a period of ten years, will provide a gateway into jobs for more than 500,000 youths who enter the labour market yearly.</p>

<p>While praising the new initiative, Bishwo Prakash Pandit, secretary at MoE said, &ldquo;Nepal needs economic growth in order to utlise its resources and only skills help to prioritise the development agenda of the country.&rdquo;</p>

<p><span style="font-size:16px"><strong>Rs 60 billion for TIA Expansion</strong></span><br />
The long-awaited expansion of Tribhuvan International Airport (TIA) will start sometime in 2016, said TIA General Manager Dewanand Upadhyay. A French consultancy firm is working on the design of the project which is backed by a Rs 60 billion loan and grant from the Asian Development Bank (ADB).</p>

<p>The increasing pressure from the rising number of travellers and the current space limitations at the airport have had an impact on passenger convenience, said Upadhyay, admitting that though the number of passengers has more than doubled over the years, the services, facilities and airport security has remained the same.</p>

<p>The current TIA building was constructed in 2002 to handle around 1400 passengers at peak hours. A project to expand the airport in 2010 to handle the increase in passenger volume &ndash;up to 2460 passenger at peak hours- is still underway and has been extended till 2018 owing to different reasons.</p>

<p>Started as a long-term upgradation programme, the new expansion project aims to enable the airport to serve 3600 passenger at peak hours, according to Upadhyay. He said the new airport building is going to be built to the north of the current building. The expanded airport will be spread across 90,000 sq meters and will have parking space for 20 international airplanes and 42 domestic planes.</p>

<p>Six boarding bridges will also be constructed and modern pipelines will be used to fuel airplanes. After the expansion, the airport will be extended to Gaushala in the north and Koteshowr in the south. The current international terminal will be transformed into the domestic terminal after the new airport is built by 2028, said Upadhya.</p>

<p><span style="font-size:16px"><strong>Compulsory Solar Energy at Urban Homes</strong></span><br />
To find a solution to the energy crisis gripping the country, the government is preparing to make it mandatory for urban homes to install solar roof-top systems. According to sources, the Ministry of Federal Affairs and Local Development (MoFALD) will soon direct all local bodies not to grant building permits and not to approve the design (blueprint) of government offices, public, commercial and corporate buildings that do not incorporate plans to install solar roof-top systems.</p>

<p>A joint meeting of MoFALD officials and representatives from the Kathmandu Metropolitan City and Alternative Energy Promotion Centre recently reached this conclusion, said the source.</p>

<p>If the system is implemented then the building construction cost will rise slightly. &ldquo;It costs Rs 100,000 to 120,000 to install solar panels of 500W capacity,&rdquo; says Gopi Krishna Khanal, joint secretary at the ministry, adding &ldquo;Those who can invest millions of rupees to construct their homes should not hesitate for this little spending.&rdquo;</p>

<p>The main source of domestic energy in Nepal is electricity but the supply of electricity is far less than the demand, leading to long hours of load-shedding. &ldquo;This is why the government is encouraging the use of alternative energy,&rdquo; said Khanal.</p>

<p>According to Khanal, each private home built in urban areas will have to install a solar roof-top system of 500W capacity. Similarly, the concerned local bodies will approve the blueprint of government, commercial and corporate buildings only if the applicant agrees in writing to generate at least 25 per cent of total energy it consumes a day or 1,500 watt, whichever is higher, through installation of solar roof-top systems. If all goes well, installation of such solar roof-top systems is expected to generate around 20MW of electricity. The power generated thus can also be connected to the national grid to reduce load-shedding during peak hours.</p>

<p>The country has one metropolitan city, 12 sub-metropolitan cities, 217 municipalities and 3,157 village development committees. The government has pledged to promote solar power in the budget for fiscal year 2015-16. It has also assured of purchasing excess electricity generated by government, commercial and public buildings using solar roof-top systems.</p>

<p><span style="font-size:16px"><strong>NTB Gets CEO after Four Years</strong></span><br />
Nepal Tourism Board (NTB) has finally got a new Chief Executive Officer (CEO) after a four-year gap. A NTB board meeting held under the chairmanship of the Secretary of the Ministry of Tourism, Culture and Civil Aviation, Dinesh Thapaliya appointed Deepak Raj Joshi as the new CEO.</p>

<p>The board selected Joshi as the most eligible candidate. The other two contenders for the post were Gyaneshwor Prasad Singh Mahato and Gyanendra Ratna Tuladhar. Joshi got 39.5 votes and will now lead the NTB for the next four years.</p>

<p>The position of CEO had remained vacant at NTB since November 2011, after the then CEO Prachanda Man Shrestha completed his tenure. &nbsp;</p>

<p>&ldquo;We are highly motivated this time because despite the blockade and the crisis, 61 teams have registered for the competition,&rdquo; he added.</p>

<p><span style="font-size:16px"><strong>FM to Coordinate Energy, Irrigation and Road Construction Projects</strong></span><br />
The Finance Ministry (FM) has said it will coordinate with the relevant government bodies for the effective implementation of energy, irrigation and road projects of national pride. As these projects have been moving very slow, the ministry will coordinate the construction work of such projects, according to Finance Secretary Lok Darshan Regmi.</p>

<p>&ldquo;We are focusing on the building of infrastructures for a prosperous economy and industrialisation of the country. For that, we are going for the effective implementation of these projects, he said, &ldquo;It will increase the government&rsquo;s capital expenditure and at the same time help to create capital.&rdquo; Regmi added that the finance ministry will give priority to such projects while allocating budget.</p>

<p>In the current fiscal year, most of these projects are interrupted by the April 25 earthquake, Terai unrest and India&rsquo;s unofficial blockade. As of Dec 5, the government has been able to spend only Rs 9.93 billion or 4.76 percent of total development budget. The government has not been able to send the money as the construction works of such projects have been halted because of the lack of fuel and construction material. The government has allocated Rs 200.8 billion as capital expenditure also known as development budget.</p>

<p><span style="font-size:16px"><strong>RTI President Inaugurates 3 New Tables in Kathmandu</strong></span><br />
Round Table International (RTI) President, Tabler Altaf Jeevunjee, along with the RTI board, inaugurated three new tables in Kathmandu on Nov 28, a press release from Round Table Nepal (RTN) said. The 3 new tables are Kathmandu Knights Round Table, Kathmandu Saints Round Table and Kathmandu Titans Round Table.</p>

<p>The day before the inauguration, on Nov 27, the National Executives Meeting along with the Charter for a new table - Kathmandu Royals Round Table 23 - was held at Soaltee Crowne Plaza in the presence of the RTI Board, which was also followed by a fellowship event.</p>

<p>RTN is a part of the RTI. At present there are 22 tables in Nepal. Working under the motto, Freedom Through Education, RTN is focused on building schools in rural Nepal. After the earthquake, RTN started to re-construct around 100 classrooms in various schools in Nuwakot.</p>

<p>In 2016, RTN will host the Round Table International World Meet in Kathmandu. The four-day event will start on Aug 31 and end on Sept 4. Around 400 members from various parts of the world will be attending the mega event.</p>

<p><span style="font-size:16px"><strong>Syakar&rsquo;s Give a Lift Campaign</strong></span><br />
Syakar Trading Company, the authorised distributor of Honda Cars, Motorcycles, and Scooters in Nepal, has initiated a CSR campaign to address the current crisis in the country. The campaign titled &ldquo;Jimmewar Nepali Ma: Seat Khali Chha&rdquo; tries to manage, organise and encourage the lift giving/taking trend that has been growing in the country. The company said it will be distributing free &quot;Seat Khali Chha&quot; badges to the willing volunteers.</p>

<p>According to the company, any volunteer willing to take part in the &quot;Seat Khali Chha&quot; campaign may put this badge on the mirror of their motorcycles or scooters, or on the windscreens of their cars (through a hassle-free clipping method). Syakar Company has also stated that these badges for cars, motorcycles, and scooters are available at the authorised distributors of Honda inside the Kathmandu Valley. Furthermore, these badges may also be downloaded from Honda Facebook page for temporary use.</p>

<p><span style="font-size:16px"><strong>Gems Wins Real School of Nepal Award</strong></span><br />
Gems Higher Secondary School has won the title of &ldquo;Real School of Nepal 2015&rdquo;. Bal Kalyan Bidya Mandir and Reliance International School stood second and third, respectively. With the award, Gems received a cash prize of Rs 100,000 and Rs 10,000 scholarships for each of the participating students. The second and third placed schools each won Rs 50,000 and Rs 25,000 respectively with participating students getting a scholarship worth Rs 5,000 and Rs 3,000 respectively.</p>

<p><span style="font-size:16px"><strong>TeliaSonera Sells Holding in Ncell</strong></span><br />
TeliaSonera has agreed to sell its 60.4 percent ownership in Ncell to Axiata, one of Asia&rsquo;s largest telecommunication groups, for USD 1,030 million on a cash and debt free basis. At the same time, TeliaSonera will dissolve its economic interests in the 20 percent local ownership and receive approximately USD 48 million, said a press release from the company. The transactions are conditional on each other.</p>

<p>&ldquo;In September we announced our ambition to reduce our presence in our seven Eurasian markets and focus on our operations in the Nordics and Baltics, within the strategy of creating the new TeliaSonera. Today, I am very pleased to announce a first step and proof point in this reshaping of TeliaSonera. I am also glad to see Axiata as a new owner. That gives me comfort that our dedicated employees are in good hands when taking Ncell to the next level,&rdquo; said Johan Dennelind, TeliaSonera&rsquo;s President and CEO.</p>

<p>Axiata has more than 260 million customers and 25,000 employees. Ncell will complement its portfolio of Asian telecommunications assets, which includes operations in Malaysia, Indonesia, Sri Lanka, Bangladesh, Cambodia, India, Singapore and Pakistan. Axiata, which is listed on the Malaysian stock exchange, is a reputable company with a strong focus and expertise in South Asia and is also a long-term investor contributing to development and advancements of the countries it operates in.</p>

<p>The press release stated that TeliaSonera divests its direct ownership of 60.4 percent to Axiata for USD 1,030 million on an cash and debt free basis, Ncell had a net cash position of approximately USD 284 million, after purchase price adjustments, as of September 30, 2015, and TeliaSonera will be paid for the cash position at closing in proportion to its economic interest of 80.4 percent.</p>

<p>As part of the divestment of Ncell to Axiata, TeliaSonera will dissolve its economic interests in the 20 percent local ownership and will receive approximately USD 48 million from Sunivera Capital Ventures Pte Ltd, a Singapore registered company. One Bhavana Singh Shrestha has been chosen by Axiata as local partner. As part of the transaction, Visor will sell its 19.6 percent of Ncell to Axiata.</p>

<p>According to the release, the deal is subject to approval from Department of Industries in Nepal, Nepal&#39;s Telecom Authority, Malaysian Central Bank and Axiata&rsquo;s shareholders, respectively. Closing of the transaction is expected to take place in the first half of 2016.</p>

<p>Meanwhile, a press release from Axiata said, &quot;Through its wholly-owned subsidiary, Axiata Investments (UK) Limited, Axiata has entered into a conditional sale and purchase agreement with TeliaSonera UTA Holdings B.V. and SEA Telecom Investments B.V. for the 100% acquisition of Reynolds Holdings Limited (Reynolds). The acquisition of Reynolds for the purchase price of USD1.365 billion plus customary adjustments at closing, effectively secures Axiata an 80% equity interest and controlling stake in Ncell.&quot;</p>

<p><span style="font-size:16px"><strong>Unnamed (VR) Wins Ncell App Camp 2015</strong></span><br />
Unnamed (VR) has won the Ncell App Camp 2015. The team also won under the &lsquo;Games and Entertainment&rsquo; category. The startup won a total cash prize of Rs 750,000 (Rs 250,000 as category winner and the Rs 500,000 grand prize).<br />
CEO of Ncell Erim Taylanlar handed over the grand prize amid a function in Kathmandu. Unnamed (VR) is a 3D game in which the user is inside an old abandoned hospital haunted by ghosts. Earlier in December, Ncell had selected 24 teams for the final of the Ncell App Camp 2015. The teams included six each from four categories: Games and Entertainment, Health, Tourism and Utilities.</p>

<p>Ancients of Mandala, Arcube Games, Flipped, Lishn, Unnamed (VR) and Up had been selected as finalists under the Games and Entertainment category. In the Health category, there were Hamro Hospital, Mero Health, Mumma-Care, Naari, Skin Consult and Tele Medic as finalists. Six teams that found way into the finals by obtaining the highest scores under Tourism were Food Nepal, Nepali Coders/ Arts &amp; Crafts, PinPeaks, Thingsle, Trail It and Travel Auctioneer.</p>

<p>Similarly, 8 Byte/ Ghum Gham, Bulletin Board (Quiddity), Drop Me Here-my Cab, Nidaar, NTyles, Pangraz were selected as finalists under the Utilities category. The 24 teams also received one-to-one mentorship on developing a business model, improving user interface and experience, and pitching their ideas.</p>
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			'title' => 'Biz Launches January 2016',
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			'short_content' => 'LG has launched the latest model of its Front Loading Washing Machines in the market. The new washing machine comes with an Inverter Direct Drive System with an advanced Brushless DC motor which directly drives the drum without a belt and pulley.',
			'content' => '<p><span style="font-size:16px"><strong>Handcrafted By Washers</strong></span><br />
LG has launched the latest model of its Front Loading Washing Machines in the market. The new washing machine comes with an Inverter Direct Drive System with an advanced Brushless DC motor which directly drives the drum without a belt and pulley.</p>

<p>The 6th Motion Technology, combined with a controlled spin speed and left and right drum rotation has greatly improved the wash performance of the machine giving perfect results every time.</p>

<p>&nbsp;The smart machine also has functions like Diagnosis, Download cycle, Washing Coach, One Touch Washing etc. when you touch the Tag On logo of the machine with a smartphone. Another unique feature is its &rsquo;Intelligent Wash System&rsquo; which detects the size of the load and water temperature and then determines the optimum water level and washing time to minimise energy and water consumption.</p>

<p>&nbsp;An &lsquo;Auto Restart&rsquo; function also allows the programme to restart by itself in case of power failure.</p>

<p><span style="font-size:16px"><strong>Colors Brings Out X-factor Elite E-20</strong></span><br />
Colors has brought out a new version of its X-factor Elite E-20 mobile phone at what looks as an affordable price.&nbsp; The mobile has double speakers and is equipped with dust repellent technology. Operated with Android lollypop 5.1 system, the mobile measures 74.9mm and has an HD IPS screen.&nbsp; It has a ram of 2 GB and Read Only Memory (ROM) of 16 GB with extension capacity to 32 GB. It has a 13 megapixel main camera and 8 mega pixel front camera. The mobile has a lithium battery with a capacity of 2500 MAH. It also has a&nbsp; Cortex A53 processor of 3 gigahertz capacity and is installed with infra-red system which allows it to be used as a remote control for adjusting TV channels and regulating temperature in ACs. The mobile set costs Rs 15,700.</p>

<p><span style="font-size:16px"><strong>CTV Mobile Showroom at Durbarmarg</strong></span><br />
CTV mobile has opened a multi-brand mobile showroom &#39;Apple World Mobile&#39; at Mercantile Plaza, Durbar Marg. The showroom was jointly inaugurated by former Miss Nepal Shristi Shrestha, Singer Rajesh Payal Rai and IMS Chairman Deepak Malhotra,&nbsp; among others.</p>

<p>The showroom that opened on Dec 14 is spread over 1,000 square feet, showcases mobile phones of all leading brands like Samsung, Huawei, HTC, Gionee, Micromax, Microsoft, Sony, Blackberry, Panasonic, LG and Virtue, among others. The showroom has handsets ranging from Rs 999 to Rs Rs 900,000. This is the sixth outlet of CTV mobile and the new showroom is offering a 35 percent discount as an opening offer (at the time of writing).</p>

<p><span style="font-size:16px"><strong>Dish Home Starts Distance Learning SLC</strong></span><br />
With an aim to disseminate education to more students, Dish Home has started running SLC classes based on distance learning. According to a press release, students taking SLCs this year can now study their subjects at home. The classes are based on the official syllabus and are taught by qualified teachers. The classes will be on from 6:30am to 9:30pm.&nbsp;&nbsp;&nbsp;&nbsp; &nbsp;</p>

<p><span style="font-size:16px"><strong>Subisu&rsquo;s 15th Anniversary Offer</strong></span><br />
Subisu Cable Net, a leading internet network and television service provider, recently launched its &lsquo;Subisu 15th Anniversary Offers&rsquo; to mark the company&rsquo;s 15th anniversary. The company has introduced five different sets of offers on its home based services; Clear TV, Cable &amp; FTTH Internet service. The introduced offers are Rs 4999 on Clear TV, Rs 9999 on Internet, Rs 9999 on Clear TV and Internet Combo Offer, Rs 9999 on FTTH internet Offer and Rs 12999 on FTTH internet and Clear TV Combo Offer.</p>

<p><span style="font-size:16px"><strong>Chivas Regal 12 Year Old Out in New Packaging</strong></span><br />
Chivas Regal, the world&rsquo;s first luxury whisky, has unveiled a contemporary new design for its 12 Year Old Scotch whisky. According to a press release, the new design retains its round generous shape with the bottle&rsquo;s shoulders raised higher. The brand signifier, based on a Celtic lukenbooth, has been made more prominent with the signatures of founders James and John Chivas added to the glass to display the value of brotherhood at the heart of the brand.</p>

<p>The outer carton has been re-designed retaining the icons that hold depth of meaning and provenance to Chivas&rsquo; rich heritage, and select areas have been embossed and debossed to add a texturalised element to the packaging. The overall design is fresher, brighter, and more dynamic and the detailing, such as mixing finishes and textures adds depth, layering and a true sense of quality craftsmanship. Coley Porter Bell has also re-designed the outer carton which retains the icons that hold meaning and provenance to the brand&rsquo;s heritage.</p>

<p><span style="font-size:16px"><strong>The North Face Summit Series Reimagined</strong></span><br />
The North Face, a world leading brand in outdoor equipment, apparel and footwear, unveiled a new take on its iconic Summit Series collection late last year. The sale started from mid November 2015. The company said, the collection was available in limited quantity, designed especially for the core mountaineering and climbing community.</p>

<p>The Summit Series has been guided by a design ethos of Respect, Inspire, Evolve, said the company. &ldquo;Respects the culture and environment the athlete plays, inspires them through product design, feel and function and it evolves through innovation and technology,&rdquo; said North Face. The products, said the company, are athlete tested and expedition proven.</p>

<p><span style="font-size:16px"><strong>Micromax Canvas 5 E482</strong></span><br />
Micromax has introduced its Canvas 5 E482, a new smart phone, in Nepal. The company said the Canvas 5 E482 has a 1.3 GHz Octa-core processer making it unique.</p>

<p>The new phone has Android 5.1 Lollipop and can be upgraded to Android 6.0 Marshmallow with dual SIM card insert facility. Similarly, it has features like a 5.2 inch HD IPS OGS screen, 13MP camera with LED flash. For video calls and selfie lovers, it has a 5MP front focusing camera, 16 GB memory which can be upgraded to 64GB, 3GB RAM, and a 2,900 mAh battery. Also, the phone comes with 4G LTI, 3G, GPRS, Wifi, Bluetooth. The Micromax Canvas 5 E482 will cost Rs 21,500.</p>

<p><span style="font-size:16px"><strong>Ruslan Vodka in New Packaging</strong></span><br />
Ruslan vodka, a popular Nepali vodka brand, has been launched in a new attractive packaging. Issuing a press release, Bijay Distillery, the manufacturer of Ruslan vodka, said the new packaging gives Ruslan an international look.</p>

<p>The company said it had planned to launch the new packaging during Dashain, but the plan got delayed due to various reasons. According to the company, it manufactures Ruslan using an automated manufacturing plant established with an investment of Rs 1 billion. The company claims its plant to be one of the most efficient plants in South Asia.</p>

<p>In the new packaging, the bottle of Ruslan vodka has attractive shrink sleeves labeling and is slimmer and taller. The price of the new bottles has been fixed at Rs 1080, Rs 540 and Rs 270 for full, half and quarter bottles, respectively.</p>

<p><span style="font-size:16px"><strong>Gionee Elife S7 at Special Price</strong></span><br />
Gionee Elife S7, the slimmest dual-SIM phone, is now available at a special New Year price. Gionee&#39;s 2015 flagship, the Gionee Elife S7 launched in Nepal on April 12, will now be available at a special New Year price of Rs 26,699.</p>

<p>The Gionee Elife S7 has a 5.5mm thin design with a body made of aviation-grade alloy. It sports a 5.2&quot; 1080p FHD Super AMOLED display and carries a 13MP rear camera and an 8MP front camera with intelligent features. The Elife S7 is powered by a 1.7GHz Octa-core 64-bit processor and runs on Amigo 3.0 OS based on Android 5.0 Lollipop. It is the slimmest dual-SIM phone till date and has 2 GB RAM and 16 GB storage. Its 2750mAh battery and extreme power-saving mode makes it last longer than competitors. An Aluminum Magnesium alloy unibody design with Coring Gorilla Glass 3 on both sides makes it very sturdy.</p>

<p>A global leader in mobile manufacturing, Gionee will be launching several new models for Nepali consumers in 2016.</p>

<p><span style="font-size:16px"><strong>Mahindra XUV500 Most Appealing</strong></span><br />
In an India based car survey, India&#39;s leading utility vehicle manufacturer, Mahindra &amp; Mahindra&#39;s XUV500 has taken top spot. The JD Power 2015 India Automotive Performance, Execution and Layout (APEAL) Study ranked the car the highest in its survey. For the fourth consecutive year, the exterior styling gained more importance in vehicle appeal, making it among the top three categories for driving the overall APEAL score.</p>

<p>According to the press release, the buyers of new models cite attractive vehicle styling as the most influential reason for purchase compared with buyers of carry-over models. &quot;New-vehicle buyers in India have a much wider range of vehicles to choose from than in the past. Automakers launch several models across segments each year, refining exterior styling and offering more safety, security and convenience features to keep customers engaged and excited,&quot; said Mohit Arora, executive director at JD Power, Singapore. The Appeal study also reveals that the demand for several features like in Audio, Entertainment, Navigation (AEN) and safety, the driving convenience have increased in 2015.</p>
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			'title' => 'Banking Activities January 2016',
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			'short_content' => 'Bank of Kathmandu (BoK) Ltd has opened a new branch in Bellauri, Kanchanpur. Nepal Rastra Bank Deputy Governor Maha Prasad Adhikari inaugurated the branch amidst a function. BoK now has a total of 51 branches. This comes as part of the bank’s second partnership with the Sakchyam Access to Finance programme to open new branch offices in rural and semi-urban market segments in the mid and far-western districts of Nepal.',
			'content' => '<p><span style="font-size:16px"><strong>BoK now at Kanchanpur</strong></span><br />
Bank of Kathmandu (BoK) Ltd has opened a new branch in Bellauri, Kanchanpur. Nepal Rastra Bank Deputy Governor Maha Prasad Adhikari inaugurated the branch amidst a function. BoK now has a total of 51 branches. This comes as part of the bank&rsquo;s second partnership with the Sakchyam Access to Finance programme to open new branch offices in rural and semi-urban market segments in the mid and far-western districts of Nepal.</p>

<p>Speaking at the event, bank CEO Ajay Shrestha said that the bank is committed to improving access to finance in rural parts of the country. &ldquo;Opening the Bellauri branch is aligned with our objective of providing better access to financial products to the people of the region who are already benefiting from the Sakchyam Sana Kisan Ukhu Karja programme,&rdquo; said Sakchyam Team Leader Baljit Vohra.</p>

<p>Sakchyam is an access to finance initiative funded by UK Aid and is implemented by Louis Berger for DFID Nepal in partnership with local and international partner institutions.</p>

<p><span style="font-size:16px"><strong>Citizens on IPS</strong></span><br />
Citizens Bank International (CBIL) has been included in the country&rsquo;s Interbank Payment System (IPS) after signing a MoU with Nepal Clearing House (NCHL). CBIL Deputy Chief Executive Officer Ganesh Raj Pokharel and NCHL CEO Nilesh Man Singh signed the deal.</p>

<p>Now CBIL customers will be able to make transactions with NCHL member banks and financial institutions. The bank said the transactions will be secure, easy, fast, inexpensive and reliable.</p>

<p><span style="font-size:16px"><strong>Global Bank New Branch at Besisahar</strong></span><br />
Global IME Bank&rsquo;s newest branch has come into operation at Besisahar of Lamjung. The branch was inaugurated by NRB Governor Dr. Chiranjibi Nepal. The bank now has 89 branches, six extension counters, 10 revenue collecting counters, 93 ATMs, 39 branchless banking outlets.&nbsp; &nbsp;</p>

<p><span style="font-size:16px"><strong>Himalayan Bank helps New Children Homes</strong></span><br />
Himalayan Bank has helped the New Children Homes (NCH) located at Hattigauda, Kathmandu. Under the bank&rsquo;s CSR activities, the bank provided clothes and food items to 30 children of NCH. The bank&rsquo;s General Manager, Susil Joshi handed over the goods, according to a press release issued by the bank.&nbsp; &nbsp;</p>

<p><span style="font-size:16px"><strong>Himalayan Bank Starts Electronic Payments</strong></span><br />
December 10, 2015. Nepal Clearing House Ltd. and Himalayan Bank Ltd. have agreed to start inter-banking electronic payments. Chief Executive Officer of Nepal Clearing House, Nileshman Singh Pradhan and Chief Executive Officer, Asok Kumar Jawara, of Himalayan Bank signed the agreement.</p>

<p>According to the bank&rsquo;s press release, dividends, premiums, social security payments, remittances, bills, among others can be paid through the system.</p>

<p>The company has already signed similar agreements with Citizens Bank and Goodwill Finance Company. The company plans to expand the payment system to other BFIs in the future.</p>

<p><span style="font-size:16px"><strong>Global IME Opens in Far-western Region</strong></span><br />
Global IME Bank has started new branchless banking services at three locations in the Far-western region in collaboration with Sakshyam Access to Finance.&nbsp; The service has been opened at Deulek-3 and Khochlek of Baitadi district, Alital-5, Mastmandau and Sakail of Dadeldhura district, areas normally cut off from banking services. The bank has appointed Haris Karki, Tejraj Bhatta and Suresh Shahi as its business representatives for Deulek, Alital and Mastmandau respectively. &nbsp;</p>

<p>Global IME had already opened two extension counters and three branchless banking outlets in Baitadi and Dadeldhura districts to provide financial services to the people of the Far-west region.&nbsp; The branchless banking service includes facilities for depositing money, dispensing cash, recharging mobiles and transferring money from personal accounts.</p>

<p><span style="font-size:16px"><strong>Mega Bank Launches &lsquo;Mega Visa Credit Card&rsquo;</strong></span><br />
Mega Bank has brought into operation a new product called Mega Visa Credit Card for its customers from December 16. The card can be used in both domestic and international markets, according to a press release from the bank.</p>

<p>Similarly the bank has introduced Mega Visa Travel Card for its customers travelling abroad. The card can be used the world over, said the bank which has already launched Mega Visa Debit Card. &nbsp;</p>

<p>&ldquo;With its association with international brand of VISA Cards, the Bank&rsquo;s Card network has expanded further and even though the Bank has launched Mega Visa Card Products, the customers can still enjoy the benefits of SCT Card in the SCT network,&rdquo; said the press release. With 29 branches across the country, Mega Bank is currently operating its own 32 Mega Money Machines (ATMs) - 14 inside and 18 outside the Kathmandu Valley.</p>

<p><span style="font-size:16px"><strong>Sanima Starts Online Payment</strong></span><br />
Sanima Bank has now started online payment services. The service enables customers to make online payments for international exams like TOFEL, IELTS, GMAT, etc. Currently, the service is available at the bank&rsquo;s Naxal and Baneswor branches.</p>

<p><span style="font-size:16px"><strong>Metro Development Bank Celebrates 7 years</strong></span><br />
With its head office at New Road, Pokhara, Metro Development Bank recently celebrated its 7th anniversary. To mark the occasion, the bank organised a blood donation programme with a total of 29 units of blood being collected, informed bank CEO Surya Prasad Tiwari. The bank, as of October 2015, had collected Rs 2.17 billion in deposits and given out loans of Rs 1.79 billion. Furthermore, the bank has agreed to merge with Kailash Development Bank.</p>

<p><span style="font-size:16px"><strong>NIC ASIA Supports Orphans of Namuna Bal Griha</strong></span><br />
NIC Asia Foundation, a charity wing of NIC Asia Bank, donated Rs 204,000 to the Namuna Bal Griha orphanage in Urlabari, Morang amidst a function held on Dec 1.</p>

<p>&nbsp;Over the years, the Foundation has been providing scholarships to disabled and orphan children in the region. It has also been providing support to the children by organising free health services, blood donation progammes, constructing old age homes and emergency medical facilities for the needy. &nbsp;</p>

<p><span style="font-size:16px"><strong>Nabil Hands Cheque to Community School</strong></span><br />
Nabil Bank has donated Rs 120,000 to Shree Gagri Kanya Gurukul Academy for the education of girls. The bank said it was fulfilling its CSR activities by continuing its assistance which started three years ago. The bank CEO Sasin Joshi handed the cheque to the Academy. The academy is dedicated to the educational development of girls from different communities.</p>

<p><span style="font-size:16px"><strong>Siddhartha and Deva Sign Remittance Deal</strong></span><br />
Siddhartha Development Bank Ltd (SDBL) and Deva Bikash Bank (DBB) Ltd have entered into a remittance agreement. The agreement is expected to expand the services of SDBL Trust Remit. SDBL CEO Ajaya Kumar Mishra and DBB CEO Bijay Bahadur Shrestha signed the agreement on behalf of their respective banks. With the agreement, customers of DBB can send and receive remittance from all branches of DBB through SDBL Trust Remit.</p>

<p><span style="font-size:16px"><strong>Business Universal now at Phursyang</strong></span><br />
Business Universal Development Bank has opened a new branch at Phursyang of Kaski. The branch was inaugurated jointly by senior educationist Heramba Prasad Koirala and bank president Milan Kumar Baidya on Dec 11. The bank will soon open another branch at Old Baneshwor.</p>

<p><span style="font-size:16px"><strong>Sunrise in IPS</strong></span><br />
Sunrise Bank has been included in the country&rsquo;s Interbank Payment System (IPS) after signing a MoU with Nepal Clearing House (NCHL). The CEO of Nepal Clearing House Nilesh Man Singh Pradhan and Sunrise Bank&rsquo;s CEO Ratna Bajracharya signed the agreement.</p>

<p>The bank said its customers will be able to make transactions with NCHL member banks and BFIs.</p>

<p><span style="font-size:16px"><strong>Sunrise Bank Helps Youth Centre</strong></span><br />
Sunrise Bank, on the occasion of International Disabled Day, has provided assistance to the Nawa Jyoti Centre of Baluwatar, Kathmandu. Under its CSR activities the bank donated two sets of electric water dispensers and also distributed fruits and food items to the children studying at the centre in a programme attended by the bank&rsquo;s CEO Asha Rana Adhikari. &nbsp;</p>

<p><span style="font-size:16px"><strong>City Development Approves Merger</strong></span><br />
The 9th AGM of City Development Bank has approved the merger proposal with Om Finance which has its head office at Pokhara.</p>

<p>The bank, till mid July, had collected deposits of Rs 5.6 billion and invested Rs 4.16 billion as loans, as the bank earned Rs 240 million in operational profits. The bank also elected Rajendra Kumar Bataju as chairman of the bank in a meeting held after the AGM.&nbsp; &nbsp;</p>

<p><span style="font-size:16px"><strong>Everest, Ace Join IPS</strong></span><br />
Everest Bank Ltd has signed an agreement with Nepal Clearing House Ltd (NCHL) for Inter Bank Payment System (IPS). Chief Executive Officer of Everest Bank, AK Ahluwalia and Neelesh Man Singh Pradhan, Chief Executive Officer of the NCHL, signed the agreement on Dec 19.</p>

<p>Similarly, Ace Development bank has also joined the IPS. On the same day, Suyog Shrestha, Chief Executive officer of Ace Development Bank and Neelesh Man Singh Pradhan, CEO of NCHL, signed the agreement regarding IPS. With the NHCL -IPS system, customers of bank have privilege to interbank payment and fund transfer. Similarly, this system helps in transferring money, dividend payment, IPO- refund, remittance service and any kind of payments and receipts, according to a press statement.</p>

<p><span style="font-size:16px"><strong>Mega Bank Branchless Banking in Dang</strong></span><br />
Mega Bank Nepal Limited in continuation with expanding the bank&rsquo;s Branchless Banking Service, has initiated two more Branchless Banking (BLB) Services from Duruwa and Manpur VDCs of Dang district. As per the Chief Executive officer of Mega Bank, Anil Keshary Shah, the Branchless Banking Service has been established for the convenience of the people in the rural areas with a vision to provide them financial empowerment through financial inclusion. With the support of Sakchyam Project this year the bank aims to establish 30 new Branchless Banking Service outlets in the far western regions as well as in many districts of Nepal.<br />
&nbsp;<br />
<span style="font-size:16px"><strong>BoK, Lumbini Bank Sign Merger Deal</strong></span><br />
Bank of Kathmandu (BoK) and Lumbini Bank Ltd have entered into a Memorandum of Understanding (MoU) for a merger. The MoU was signed on Dec 24, 2015 by Satya Narayan Manandhar, Chairman of BoK and Prof Hem Raj Subedi, Director of BoK and Prakash Shrestha, Chairman of Lumbini and Subarna Lal Shrestha, Director of Lumbini Bank.</p>

<p>After the merger, the new bank will become Bank Of Kathmandu Lumbini Ltd. The swap ratio of the BoK and Lumbini Bank has been agreed at 1:0.8281. However, it is subject to regulatory clearance and approval of shareholders meetings of both the banks. The merger is planned to be completed within the current fiscal year.</p>

<p>Both the banks have entered into MOU with their plan to meet the minimum capital requirement within the financial year 2016/17 as stipulated by the Nepal Rastra Bank. The paid up capital of BoK for fiscal year 2014/15 was Rs.2.12 billion which will be increased to Rs.2.67 billion after the approval of proposed bonus shares. Similarly, the paid up capital of the Lumbini Bank Ltd. for the fiscal year 2014/15 was Rs.2 billion which will be increased to Rs.2.30 billion after the approval of the proposed bonus shares.</p>

<p><span style="font-size:16px"><strong>Siddhartha, Ekata and Nepal Aawas Merge</strong></span><br />
Kathmandu based National Level Siddhartha Development Bank Limited (SDBL), Butwal based Regional level Ekata Bikas Bank Limited (EKBL) and Nepal Aawas Finance Ltd. (NABB)&nbsp;&nbsp; have signed a Memorandum of Understanding (MoU) to enter into a merger.</p>

<p>&nbsp;Ram Bahadur Bhandari, board member of SDBL, Khim Nath Sharma, board member of EKBL, and Khem Raj Pant, board member of NABB signed the agreement on Dec 22. The merged entity will be called Siddhartha Development Bank Ltd. The joint operation is scheduled to start from March 2016. According to the agreement, the Chairman and the post of the CEO of the merged entity will be from Siddhartha Development Bank.</p>

<p><span style="font-size:16px"><strong>Vibor Bikas, Society Development Bank to Merge</strong></span><br />
Vibor Bikas Bank Ltd. (VBBL) and Society Development Bank Ltd. (SODBL) have signed a Memorandum of Understanding (MOU) to merge. The chairman of both banks, Mohan Das Manandhar from VBBL and Sushil Raj Parajuli from SODBL signed the MoU on Dec 23. The merged entity will be named Vibor Society Development Bank Ltd. The merger is set to happen by June 2016. After the merger the paid up capital of the merged entity will be Rs 1.81 billion, deposits will amount to Rs 11 billion and loans to Rs 9 billion.</p>

<p><span style="font-size:16px"><strong>Sunrise, Prabhu Sign Remittance Deal</strong></span><br />
Sunrise Bank Limited has signed an agreement with Prabhu Money Transfer to establish remittance services. Issuing a statement, Assistant General Manager of Sunrise Bank Rabin Nepal and Prabhu Money Transfer Deputy General Manager Rameshwor Sapkota signed the agreement on behalf of their respective companies. Following the agreement, all branches and counters of Sunrise Bank will be providing services to the clients of Prabhu money transfer. The agents of Prabhu money transfer can directly deposit money in the Sunrise bank account.</p>

<p>&nbsp;</p>
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			'title' => 'South Asia’s Vital Need for Electricity',
			'image' => '20160121125623_ep3.jpg',
			'short_content' => 'South Asia is home to over one billion people. A majority of them are living without access to electricity. Electricity is an essential prerequisite not only for modern life but also to power machines to produce goods and services. Modern technology is based on the availability of electricity. ',
			'content' => '<p><strong>--By Prof Dr Kamal Raj Dhungel</strong></p>

<p>South Asia is home to over one billion people. A majority of them are living without access to electricity. Electricity is an essential prerequisite not only for modern life but also to power machines to produce goods and services. Modern technology is based on the availability of electricity. Most of the South Asian countries obtain power from both non-renewable sources such as nuclear, coal and natural gas and from renewable sources such as hydro, solar and wind power. &nbsp;Both these sources to some extent are home-grown. All countries in the region are endowed with one source or another. &nbsp;Coal is available in India. Bangladesh and Pakistan are rich in natural gas, so is Nepal and Bhutan in hydropower. There is a golden opportunity to produce electricity from these indigenous sources.&nbsp;</p>

<p>Among the potential sources, coal is highly exploited and has remained a major source of power for nearly a century and is expected to remain the same in the days to come. Hydro and natural gas remain untapped. They are yet to be exploited. These resources, if developed wisely, would be a boon for the development of South Asian countries. It would provide ample opportunity for South Asian countries to exchange power with each other plugging a particular country&rsquo;s demand and supply gap. It would help to ensure energy security and provide scope for regional market integration. Also, almost all the countries have HEP potential, but to some extent the degree of availability varies. This represents a renewable source of energy.&nbsp;</p>

<p>Obtaining a higher economic growth rate to the extent of it being in the double digits is the primary goal of the South Asian countries. However, double digit growth rate requires huge units of electricity. Presently, this is constrained by inadequate power supply. Thus, the goal is conditional upon an adequate and uninterrupted power supply. Electricity consumption and economic growth are closely interrelated. This article aims to investigate the causal relationship between economic growth and electricity consumption in five countries of the region.&nbsp;</p>

<p><span style="font-size:16px"><strong>Hydropower Potential</strong></span><br />
Like natural gas, the region&rsquo;s economic hydropower potential remains untapped. The South Asian region is fortunate to have such &nbsp;vast hydropower potential, a renewable and non-polluting source of energy. &nbsp;Most of this remains untapped. The region is able to harness 28 GW (table 1). The countries of the South Asian region are energy starved on the one hand and they are not able to harness their vast potential resources on the other hand. They are importing petroleum products from gulf counties in order to achieve targeted economic growths. In the process, pollution is created in the atmosphere a stimulating factor for climate change. Thus, in the light of this, the benefits of exploiting hydropower is manifold. &nbsp;It facilitates to a) utilise the region&rsquo;s untapped resources, b) ensure energy security, c) hold energy trade across the regional countries, d) create an environment to integrate the regional market, e) reduce the import bill of petroleum products and f) reduce greenhouse gas emissions.&nbsp;</p>

<p><img alt="" src="/userfiles/images/ep%2820%29.jpg" style="height:352px; margin-left:10px; margin-right:10px; width:700px" /></p>

<p><img alt="" src="/userfiles/images/ep1%2811%29.jpg" style="height:176px; margin-left:10px; margin-right:10px; width:700px" /></p>

<p><span style="font-size:16px"><strong>Electricity Production</strong></span><br />
Five countries in South Asia produce 1374.693 billion KWh of electricity. Coal is the major source of electricity. It accounts for more than 52% of total electricity production. The share of hydro, natural gas and renewable energy to total electricity production is 12.22%, 12.83% and 16.03% respectively. India alone produces 86.1 percent of the total followed by Pakistan (9.01%), Bangladesh (3.1%), Sri Lanka (1.2%) and Nepal (o.48%) (table 2).&nbsp;</p>

<p><span style="font-size:16px"><strong>Development Indicator</strong></span><br />
Electricity is a major source of power. A nation&rsquo;s economic activity depends on its availability. Per capita electricity consumption, in modern usage, is taken as one of the measuring rods of development. Higher per capita electricity consumption shows a better development of a nation. The per capita electricity consumption of selected countries is given in table 3. India has the highest per capita electricity consumption (684 KWh) indicating it to be a relatively more developed country in the South Asian region. The second highest is in Sri Lanka with a per capita electricity consumption of 490 KWh followed by Bangladesh (259 KWh), Nepal (106 KWh) and Pakistan (49 KWh). &nbsp;</p>

<p><span style="font-size:16px"><strong>Economic Growth Stimulator</strong></span><br />
As mentioned earlier, the countries of South Asia are trying to achieve double digit economic growth. This requires huge units of electricity and higher electricity consumption is a measuring rod for higher levels of economic development. It indicates that a one percent increase in electricity consumption would increase the economic growth rate by 1.31 percent. This clearly reveals that a unit change in electricity consumption would change the GDP by more than a unit. The EEC for individual countries is also estimated. In the case of Bangladesh the EEC is 0.81, which is less than one, which reveals that a 1% increase in electricity consumption would lead to an increase in the economic growth by 0.81%. For the rest of the countries a 1% increase in electricity consumption would lead to an increase in the economic growth by more than 1%, the highest in Pakistan and lowest in Nepal (table 4).&nbsp;</p>

<p><img alt="" src="/userfiles/images/ep2%2810%29.jpg" style="height:269px; margin-left:10px; margin-right:10px; width:700px" /></p>

<p><span style="font-size:16px"><strong>All for One, One for All</strong></span><br />
India alone produces 86% of electricity and in turn commands the highest consumption. The per capita electricity consumption (684 KWh) represents the highest in comparison to the sampled countries of the South Asian region. The second highest is in Sri Lanka with a per capita electricity consumption (490 KWh) followed by Bangladesh (259 KWh), Nepal (106 KWh) and Pakistan (49 KWh).&nbsp;</p>

<p>An estimation of the electricity elasticity coefficient reveals that a proportionate change in electricity consumption would lead to change in the economic growth rate by more than a proportion. It clearly reveals that South Asia&rsquo;s economic growth rate is electricity dependent. Thus, in the light of this, South Asian countries must mobilise their resources together to produce electricity and to, furthermore, trade in energy to supply surplus energy to the needy.</p>

<p style="text-align: right;"><em>The author is retired Professor of Economics, Tribhuvan University</em></p>
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			'title' => 'Remittance : A Blessing and a Curse',
			'image' => '20160121125912_ep4.jpg',
			'short_content' => 'Running a country through remittances can be an easy way to move ahead, but it comes with a price. Every day, 1500 Nepalis fly out from Tribhuvan International Airport for jobs abroad. The decade-long Ten years of insurgency made large numbers of young people go abroad and now, again,..',
			'content' => '<p><strong>--By Dwaipayan Regmi</strong></p>

<p>Running a country through remittances can be an easy way to move ahead, but it comes with a price. Every day, 1500 Nepalis fly out from Tribhuvan International Airport for jobs abroad. The decade-long Ten years of insurgency made large numbers of young people go abroad and now, again, the slow economic growth rate and rising unemployment has made staying in the country even more difficult and a choice generally avoided by Nepal&rsquo;s young generation. The devastating earthquake again acted as another reason to go abroad. The recent blockade by India has also certainly created huge pessimism among the youth, giving them a further reason to leave the country, or make plans to do so.</p>

<p>Almost 56 percent of households are receiving some sort of remittance one way or the other in Nepal. The remittance senders fly abroad, when they don&rsquo;t see any possibility in Nepal, willing to be away from their families and ready to do the 3Ds (Dirty, Danger and Difficult) jobs, making Nepal one of the highest recipients of remittances.</p>

<p>The craze for international jobs already had a certain appeal and was a matter of prestige even before the massive earthquake, blockade and weak job prospects. &#39;Nothing can be done living here&#39;, is a mantra often repeated by the youths time and again. But it is also evident that, when people go abroad, the country profits hugely. The profit maybe short term and economical, but there are several things that go away as well. Primarily, there&rsquo;s the Brain Drain issue. The country loses its skilled manpower and the host country benefits from a Brain Gain. Next is the Flow of Money, because it is not as if the host country invites them with open arms. The job seeker has to spend money to go abroad.&nbsp;</p>

<p>We don&rsquo;t have good international aeroplanes, so the money from plane tickets goes out of the country. Even if a person spends 50 thousand, every day around 75 million flows out. Remittances over all, makes a country dependent.</p>

<p>However, will remittance develop a nation? The question is open for debate and yet many remain silent on the issue.&nbsp;</p>

<p>Nepal is a country where political instability is a major issue. If one political party is disgruntled, they call for a banda, ignoring the welfare of the general public. It is a depressing fact that Nepalis are going through the 4Ds (Detention, Depression, Deportation and Death) abroad yet through their efforts, the country is able to set a budget.&nbsp;</p>

<p><img alt="" src="/userfiles/images/ep5%284%29.jpg" style="height:375px; margin-left:10px; margin-right:10px; width:700px" /></p>

<p>Remittance has increased the living standards of families in the home countries. Today, almost everyone in Nepal carries a mobile. Not just in towns and cities, but even in the villages. It has also helped to reduce poverty in the country. Remittances have been contributing in currency appreciation as well.&nbsp;</p>

<p>In any country, remittance contributes to economic development and Nepal is no exception here. For any developing country, remittance has been a blessing. However, no country can depend on remittance for a long period of time, and it is no way a long term solution. Remittance is only for the short term.</p>

<p>If properly utilised, there is ample opportunity for it to work. A husband sends a certain amount to his wife and children. If the wife invests it in some productive sector, it could bring a positive impact and further contribute to economic well being. Maybe, the wife&rsquo;s investment could bring her husband back one day. A country can never develop depending completely on remittance. There are billions of dollars entering the country in the name of remittance, but not more than six percent has been utilised in capital investment.</p>

<p>Where is the money going? That should be a matter of huge concern to the government. They need to be taught the skills that will help them to be independent; they need to be taught to live their lives on their own. They need to be showed, how by agriculture, they can call their dear ones back home. It is practically impossible for the government to stop people going to work abroad, and morally unwise as well. However, if agendas like &lsquo;Entrepreneurship by 2030&rsquo; could be brought ahead, it would help to some extent.&nbsp;</p>

<p>One serious impact of remittance is that it discourages investment within the country. People start being dependent upon remittance instead of concentrating on doing something on their own. Gradually the nation will become a victim itself. A sudden halt in remittance can lead to a huge financial crisis. Remittance again encourages migration because in sending money home, neighbours or relatives will want to send their children abroad seeing the improvement in the standard of living.</p>

<p>Consequently, remittances are good for the short term, but we should not completely depend on it. Qatar- which will be hosting the World Cup soon- has made such huge long term progress by using Nepali labour. We are happy with remittances and they (Qatar) are happy about their development- hence the questions arise, short term happiness or long term happiness?</p>

<p>From Abu Dhabi and the airports of the Middle East, to the dhabas of Kerala, Nepali youths have been working to send their hard earned money home. However, at one point, these youths will return home, adding to the &#39;youth bulge&#39; in Nepal.&nbsp;</p>

<p>From marriages to buying a new smart phone, Nepali migrant workers have been sending money home. However, this money will be used in the productive sectors only if attractive schemes are introduced.</p>

<p>There have to be solutions prepared for the long term and there has to be respect created for every individual who flies abroad. It is not our finance minister, who makes the country&rsquo;s economy strong; rather it is these unemployed youths who are queuing up at the airport, ready for 3D jobs and 4D situations that shape our economy!</p>

<p style="text-align: right;"><em>The writer is an MBA student at JNTU(A), Andhra Pradesh, India.</em></p>
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			'title' => 'Age No Bar to Business',
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			'short_content' => 'Developing a career when one has crossed their forties could look like an impossible task. The case becomes even more acute when you have been jobless at this age and can’t find anyone who will hire you. Under such conditions, even being a professional with expertise doesn’t seem to help you. These conditions are more acute and suffocating, if the individual is a woman and member of a patriarchal society like ours',
			'content' => '<p style="text-align: center;"><em>Kamala Giri (left) and Sushila Bhuju making papercrafts at their workshop in Chamasingh, Bhaktpaur</em></p>

<p><strong>--By Shrijana Tha Shrestha&nbsp;</strong></p>

<p>Developing a career when one has crossed their forties could look like an impossible task. The case becomes even more acute when you have been jobless at this age and can&rsquo;t find anyone who will hire you. Under such conditions, even being a professional with expertise doesn&rsquo;t seem to help you. These conditions are more acute and suffocating, if the individual is a woman and member of a patriarchal society like ours. Against these odds, five women in Bhaktapur successfully got their professional lives back on track.</p>

<p>Kamala Giri, Sunita Bhuju and Sulochana Dulalare are paper craft artisans formerly associated with a once burgeoning and now defunct paper industry, Bhaktpaur Craft Paper Industries. These women worked for around two decades in this industry- during which they received training from national and international paper craft artisans, some of which were funded by international development organisations like UNICEF. Life was going easy for them until the day the industry decided to close down around 2013. Along with their colleagues, these women were left jobless in their late forties. Though they were skilled in making paper crafts, they could not find an employer who would could bring their skills into use and give them a job.</p>

<p>In their desperation, some of them started working for a former colleague on a commission basis. However, things were not going as they expected initially- the colleague was depriving them of their percentages by faking the sales value, ultimately forcing them to quit the informal partnership they were in. Some months later, while all of them were wondering how they could make a living, Bimal Gosai, a Nepali resident living in Germany, came on the scene. A Civil Engineer by profession, he was interested in their stories and realised that these women could start all over again. Thus began a round of discussions among these women and their families. Three months later, with the support of the families, they established the Bhaktapur Women Craft Paper Pvt. Ltd. The struggles were immense but the path began to come clear very soon. Now they are owners of a promising and thriving paper craft industry &ndash; which is their own.</p>

<p>Their case is interesting &ndash; considering the fact they were women in their late forties, modestly educated, members of the lower middle class which is characterised by women centred socio-cultural taboos, lack of investment capital and above all by a lack of knowledge in running a business. So, this article tries to explore the ways and methods through which they overcame these hurdles and regained their lost professional dignity.</p>

<p><span style="font-size:16px"><strong>Innovative Marketing&nbsp;</strong></span><br />
Business is basically about demand and supply. With over three decades of experience in the industry, these women had all the expertise required to ensure the production of quality paper crafts but they lacked access to production resources together and marketing skills to sell the product. This is where they adopted the modern trend and got onboard with a tech savvy manager &ndash; Bimal Gosai. Gosai, though a civil engineer by profession, says that he was instantly interested in the proposal when Sulochana approached him about the business.&nbsp;</p>

<p>&ldquo;Despite having life long experience in making paper crafts, we were not proficient in marketing skills,&rdquo; Giri, one of the eight partners, said adding that when she first met and shared how they had become jobless, Sulochana said they could have their own paper craft business. &ldquo;After multiple rounds of discussions, we ultimately brought together paper craft and marketing professionals. Our traditional production methods and information technology oriented marketing methods, helped us in setting foot in the industry.&rdquo; The business has been extensively using online marketing tools &ndash; including social media and advertising, to reach out to new clients.&nbsp;</p>

<p><span style="font-size:16px"><strong>Authentic Business Aspects&nbsp;</strong></span><br />
Even in this plastic age, authentic products have their own charm. While mass production caters to the utilitarian needs of mass consumerism, handmade products are still a choice for those who can afford to pay and above all who share the passion for authenticity. Bhaktapur Women Craft Paper products cater to the aspirations of the latter. It has limited itself to a select few authentic Nepali products that are produced from home grown raw materials.&nbsp;</p>

<p>Ranging from Lokta paper, peach shells, bamboos to ink dyes made using indigenous methods and raw materials, the products render a Nepali feel. In first world nations, where consumers stress more on organic and authentic products, these products have been received very well. Though their customer base in these countries is still small compared to such other Nepali industries, it nevertheless has been gradually gaining a foothold in the highly competitive market by ensuring authenticity of its products.&nbsp;</p>

<p><span style="font-size:16px"><strong>Socially Responsible and Locally Embedded&nbsp;</strong></span><br />
An important aspect of business that relies on evoking human compassion for selling products is being socially responsible and locally embedded. These aspects add value to the authenticity of the products. Every consumer feels good to spend an extra buck on a product, if they realise that some portion of the prize would be given to humanitarian causes. Along with that, such aspects assist in uplifting the status of the business towards a social development entity - that stresses more on earning a just living rather than making profit.&nbsp;</p>

<p>As part of its social responsibility, Bhaktapur Women Craft Paper organises paper craft trainings for local women, especially for widows, and the destitute. &ldquo;Sharing your knowledge and enabling them to earn a living for themselves is an important humanitarian effort. I know its value because whatever I am today is because someone did that for me,&rdquo; Sunita Bhuju, another of the partners, said adding that by organising such trainings they wanted to enable more women in the locality to live a dignified life. Along with that, branding it using the name of the city, she feels, helps the business in localising its roots. &ldquo;It is this city that basically is common to us and the business. We grew up here and this is where our business is growing,&rdquo; Sulochana Dulal, another partner in the business, said while elaborating on the underlying argument of their branding strategy.</p>

<p><span style="font-size:16px"><strong>Global Business&nbsp;</strong></span><br />
A market is very crucial for growing a business and in the paper craft industry, having international customers is an important aspect. This organisation has its major customer base in the US besides other European countries. Its clients have been assisting their growth by linking them with craft buyers and dealers and by providing them with investment to grow their business and improve the quality of their products. Thus, even though they are a local industry, their reach and well wishers are expanding globally. And this is possible only if entrepreneurs have a global thinking.&nbsp;</p>

<p>&ldquo;Our customers live on other side of the planet. And though they have a different way of life and doing business, they too share with us the underlying principles of humanity,&rdquo; Bimal Gosai, the marketing manager at the firm said while elaborating on the customer relationship strategy. &ldquo;We share our success and our shortcomings with our clients. This makes them feel that they are dealing with humans who like them are doing business to earn a honest living,&rdquo; he said, adding that one of their clients helped them in expanding their business and helped to reopen their damaged office which was destroyed by the earthquake.&nbsp;</p>

<p><span style="font-size:16px"><strong>Open Minded Team&nbsp;</strong></span><br />
One of the great assets in partnership businesses is having like minded and understanding team members who stress on a common good. This has been a crucial factor in Bhaktapur Women Craft Paper&rsquo;s success. Having worked together for over two decades, these partners know each other well and some even have family ties. This underlying understanding has helped them work together for the growth of the business.&nbsp;</p>

<p>&ldquo;We have our differences but we have always resolved them through understanding and open minded discussions,&rdquo; Giri said. As part of their efforts to keep the team strong, they all work on a salary basis and have a dedicated accounts manager to look after the accounts. &ldquo;We all have gone through the worst professional crisis in our life. This is our only chance to continue living a dignified life so we all make sure that we resolve our personal differences through open discussions and continue contributing to the growth of the business.&rdquo;&nbsp;</p>

<p>Though established nearly a year ago with an initial investment of Rs 300,000, Bhaktapur Women Craft Paper has done business worth Rs two million this year alone. Though its partners are glad about the success, they have bigger plans up their sleeves. Buoyed by the success they are presently investing their earnings in the business and striving hard to establish themselves as a fair trade business. Their spirit is a reminder to all women and men, who try to point to age or lack of resources, as an excuse for not starting their own business. These seasoned women prove the point that it is never too late to start something new, something meaningful, and something dignified &ndash; if one is committed to the cause.</p>

<p><em>The writer is a social researcher and development enthusiast. She is presently associated with Social Welfare and Support Organization Nepal (SWASON) &ndash; a Kailali based non-profit group as its vice president and can be reached at shrijana.shrestha12@ gmail.com</em></p>
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			'short_content' => 'We have to consolidate our expenditure programme; the trend so far is to spread the budget thinly over all places. Many programmes are duplicated and many overlaps happen between the jurisdictions of the different ministries. The roads are duplicated, i.e. they are in multiple entries everywhere and thus, when to complete and who does it always remains a question. ',
			'content' => '<p style="text-align:center"><span style="font-size:16px"><strong>Dr Yuba Raj Khatiwada&nbsp;</strong><br />
Vice-chairman<br />
National Planning Commission (NPC)</span></p>

<p><em><span style="font-size:16px">Dr Yuba Raj Khatiwada is the new vice-chairman of the National Planning Commission (NPC), appointed to the post by the KP Oli government on Nov 4. This is the second time that Dr Khatiwada has been appointed to the post. He served as NPC vice-chairman from June 2009 to March 2010 before his appointment as the 15th governor of Nepal Rastra Bank (NRB), the country&rsquo;s central bank. He served at the NRB for five years until March 2015. In an interview with Akhilesh Tripathi of New Business Age, Dr Khatiwada talked about his plans and priorities, NPC&rsquo;s restructuring and the challenges he faces as the new NPC vice-chairman. Excerpts:</span></em></p>

<p><span style="font-size:16px"><strong>It&rsquo;s been more than a month since you took over the reins at NPC. Have you set your priorities?</strong></span>&nbsp;<br />
I have joined NPC at a time when there are various internal as well as external challenges. India&rsquo;s unofficial blockade is an external challenge. The internal problem is I have been appointed as the lone member of the NPC in the form of its vice chairman. I have also been given the role of managing the Reconstruction Authority which is another challenging task. Although at the moment I am more occupied with reconstruction activities by facilitating the programmes, coordinating with the donors and mobilizing non-governmental organisations, I have not lost my focus on restructuring NPC and its agenda. I would particularly like to mention a couple of things that I want to do during my stay at NPC. The first is preparing the next periodic plan as the current fiscal year is the terminal year of the current three-year periodic plan. Preparing the next plan is challenging from various aspects. The country has adopted a federal governance system. So development has to be planned at the central, provincial and local levels. Similarly, in the month of September 2015, we endorsed the sustainable development goals under the UN umbrella which is very challenging, ambitious and comprehensive. These goals have to be embedded in our planning, programming and budgeting process. And we also have to develop the strategy and the operating framework to implement the sustainable development goals at different levels of government.</p>

<p>The third thing is expediting the ongoing activities which are budgeted for this fiscal year. We have not been able to expedite development programmes because of the ongoing blockade. We have not been able to review previous year&rsquo;s programmes also. So one of my tasks would also be to see that if the monetary framework is in its place and whether it can expedite the capital expenditure.</p>

<p>The fourth thing is to see how we can cope with the macroeconomic challenges posed by the earthquake followed by the blockade. If we don&rsquo;t have our macroeconomic parameters rightly in place, perhaps we will lose the momentum in the long run.</p>

<p><span style="font-size:16px"><strong>The main function of the NPC is to advise the government on formulation of periodic plans and the annual budget. And this is your second stint at NPC. What are the areas where you would like the government to plan more and spend more?</strong></span><br />
We have to consolidate our expenditure programme; the trend so far is to spread the budget thinly over all places. Many programmes are duplicated and many overlaps happen between the jurisdictions of the different ministries. The roads are duplicated, i.e. they are in multiple entries everywhere and thus, when to complete and who does it always remains a question. The construction of local roads has been like passing a ball among various ministries. In addition, we don&rsquo;t have proper monitoring systems for the programmes that are implemented. In some programmes, we do have monitoring and evaluation systems, but we are not sufficiently equipped to properly monitor. So what I would like to do is consolidate the whole programme and see that they have enhanced credibility. Thus, our role would be to see only strategic development works and also make expenditure policy and monitor the progress.&nbsp;</p>

<p><img alt="" src="/userfiles/images/i1%2811%29.jpg" style="height:385px; margin-left:10px; margin-right:10px; width:700px" /></p>

<p><span style="font-size:16px"><strong>There has been a lack of coordination between the periodic plans and the annual budget. On occasions, the short term priorities of the annual budget don&rsquo;t match the long-term objectives of the periodic plans. How do you plan to address this?</strong></span><br />
It should not be the case as each ministry is given clear instructions before the budget programmes are proposed. What happens sometimes is that you have unexpected events or new events taking place and they need to be absorbed into the programmes.</p>

<p>For example, the roads to connect our northern borders. Nobody had thought that we need to construct these roads this year. We realized their importance only after the blockade. So these are some of the incidental things that a country must recognise and include in the planning process. But that should not be done on the cost of ongoing programmes and projects. The link between the periodic plans and anuual budget allocations is established through the medium term expenditure framework. Now we are also strengthening the medium term expenditure framework which exactly translates periodic &nbsp;plan into &nbsp; budgets for three years.&nbsp;</p>

<p><span style="font-size:16px"><strong>You mentioned about the northern roads. Does that mean the NPC is going to give more priority to such roads?</strong></span><br />
Of course. Our aim is to be linked to both north and south by establishing Nepal as a transit country in order to facilitate trade between India and China. Depending on a single country for trade is risky as has been proved now. So, roads linking to China are a priority for NPC now. &nbsp;</p>

<p><span style="font-size:16px"><strong>Given the massive earthquakes and India&rsquo;s unofficial blockade, what will happen to the government&rsquo;s plan of graduating Nepal to the league of developing countries by 2022? Can Nepal make it?</strong></span><br />
Obviously yes! Graduating to the group of developing countries is still possible. We thought we were going to meet the vulnerability index, one of the three criteria to graduate. But we never guessed that a natural disaster will hit us. We used to talk about only floods or droughts or some other crisis; we never thought about an earthquake. We lost schools, health posts and human resources in the earthquake. In the Terai, children have been prevented from going to school for months now. These are setbacks for our graduation efforts. &nbsp;Hundreds of thousands of people are likely to fall into absolute poverty because of the earthquake. Thus, our first parameter for graduation - per capita GNI - has been deteriorated. &nbsp;Technically, we can still graduate to the group of developing countries as we will be meeting the next two criteria. However, my question is, do we technically need to graduate or do we really deserve to be graduated? To me, technical graduation does not make much sense.&nbsp;</p>

<p><span style="font-size:16px"><strong>Some people ask if Nepal stands to gain from the graduation or will it just lose the privileges it is getting as an LDC?</strong></span><br />
The tag of LDC is something we want to get rid of politically. &nbsp;But there are some concerns that Nepal will lose some of its foreign assistance, trade incentives and access to international market might become tougher than now after graduating from LDC. However, there are some mechanism for the transition phase which the UN is working on at present. But for the fear of losing some of the incentives, &nbsp;we should not give up our plan to graduate.&nbsp;</p>

<p><span style="font-size:16px"><strong>The White paper issued by the government recently has shown that the government has a huge surplus in its coffers. But the White paper is silent on how is that going to be deployed. What is NPC planning for this money?</strong></span><br />
We have only around Rs 40 billion which is surplus for the current year&rsquo;s budget. In the first trimester, you have surpluses. This year most of the development projects are stalled because of fuel shortage created by the blockade. And some projects don&rsquo;t even have enough construction materials like cement, rods and others. In addition, we have power cuts. These issues also affect the government&rsquo;s development and construction plans. Since this government was formed only about two months ago, it needs to settle down in terms of investment and implementation.</p>

<p><span style="font-size:16px"><strong>Slow government spending and poor performance of the projects of national pride have emerged as two major problems. How does the NPC plan to make progress on these fronts?</strong></span><br />
I can give you some examples. The much needed Upper Tamakoshi hydropower project should have already been in operation but it has been postponed for yet another year. The access road to Tamakoshi is destroyed by the earthquake and it is estimated to take two-three months to clear the road. But when I ask to make it quicker, I am told that there is not enough fuel to run the excavator. At the moment, we are helpless even if we try our best. The best way to utilize this time is to prepare the documents and do the paperwork required for the implementation of the projects.&nbsp;</p>

<p>The Melamchi drinking water project is another example. It has problems arising because of contractors and sometimes it has management related problems. The case of many projects in the Terai is similar. It&rsquo;s not only the government but also the contractors who create hurdles in the smooth running of the projects.</p>

<p><img alt="" src="/userfiles/images/i2%282%29.jpg" style="height:384px; margin-left:10px; margin-right:10px; width:700px" /></p>

<p><span style="font-size:16px"><strong>Some people say that NPC is losing its relevance as the planner of the country&rsquo;s development. What&rsquo;s your opinion?</strong></span><br />
I don&rsquo;t disagree. People will always question the role of such institutions if they are not guided by principles and certain norms and keep on adding projects in the interest of various groups. My challenge is to regain the reputation of NPC. Now, NPC&rsquo;s role itself is changing because of the federal setup of the country. Now we won&rsquo;t be making programmes for the provincial and local governments.&nbsp;</p>

<p><span style="font-size:16px"><strong>It has been more than 60 years since Nepal started planned development and so far we have seen nine five-year plans and three three-year interim plans. How do you assess Nepal&rsquo;s effort at planned development?</strong></span><br />
Infrastructure development has been far from satisfactory. But we have made a lot of progress in terms of social indicators such as school enrollment, gender parity, health indicators, gender empowerment, water supply coverage and other several social indicators which are very much comparable with the South Asian standard. But we lost in economic infrastructure while focusing on social indicators. After the World Summit for Social Development, 1996 Copenhagen, we started putting a lot of effort on social structures. We also focused on allocation of resources for improvement in social indicators which somehow undermined our focus on building economic infrastructures. We thought that the economic activities will be taken care of by the private sector. But, we forgot that they won&rsquo;t come forward in the absence of basic infrastructures. Now I am talking about an infrastructure-led economic growth, which will create jobs, environment for the private sector and help boost the economy. This is a shift from one part of the economy to another. If you cannot make enough social investment, you have to top up the deficit by investing in infrastructure. You can refer to international financing and can resort to the PPP model or create environment for private sector to come up and mobilize your resources. We need to develop basic infrastructures, which will create employment, development and better services.</p>

<p><span style="font-size:16px"><strong>You are the ninth NPC vice-chairman post-2006. Political instability has really affected NPC&rsquo;s role, hasn&rsquo;t it?</strong></span><br />
I would say both yes and no. I saw several prime ministers and finance ministers when I was at the central bank. But still I did my job. All I needed was a secure post from where I could be accountable and deliver my duties independently. Traditionally, NPC office-bearers have been appointed politically because NPC is supposed to advise and plan for the government of the day and we all know that governments are formed by political parties. So, a new NPC team is appointed when the government changes. Thus the issue is how we can make NPC a stable organisation even if the government keeps on changing. Only then can it work more efficiently. But today even credible programmes formulated by the previous NPC team get discontinued. So, we need to restructure the NPC and make it a legal entity so that the positions of NPC office-bearers become secure at least for a certain period. We should make them accountable for what they do and only dismiss them for misconduct as practiced in the central bank. This would surely help bring stability to NPC. But we need to understand that not everyone is fit to be a planner.&nbsp;</p>

<p><span style="font-size:16px"><strong>NPC members are appointed on a quota basis by the political parties. Do we get real development experts this way?</strong></span><br />
In a party system, it is obvious that political parties will recommend office-bearers to NPC. Even in party quota, there are professional who are specialized in their sectors. But the parties should pick only able candidates who know what NPC is and what it is supposed to do. The candidates must meet certain criteria.</p>

<p><span style="font-size:16px"><strong>Right now you are like a general without his lieutenants. When do you think the NPC members will be appointed?&nbsp;</strong></span><br />
I hope that the members will be appointed as soon as possible, hopefully, before this calendar year ends.&nbsp;</p>

<p><span style="font-size:16px"><strong>Are you going to continue with the 2nd Generation Reforms which the NPC team led by your predecessor talked about?</strong></span><br />
Please tell me what a first generation reform is. We make reforms; it is a continuous process. But, I don&rsquo;t like to divide reforms into generations. Let&rsquo;s say just reforms. You need reforms if, after some time, things stop working or when there is a need to increase economic growth or sustain it in a changed environment. We have to think about reforms which will ensure fair income distribution, generate more jobs and deliver inclusive and socially justifiable economic growth. We should talk about such reforms. That is the kind of reform we should be doing which requires sectoral and macroeconomic reforms.&nbsp;</p>
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			'title' => 'Monthly Technical Analysis of Nepse (29 November to 24 December, 2015)',
			'image' => null,
			'short_content' => 'The benchmark index saw huge changes in the course of last month. Despite all the difficulties and political unrest in the country, Nepse gained a staggering 114.26 points (or up 11.17%) to close at 1137.03. It seems that the monetary policy is still playing a major role in causing the market to be bullish.',
			'content' => '<p><span style="font-size:18px"><strong>Nepse Added 114 Points</strong></span></p>

<p><span style="font-size:18px"><strong><img alt="" src="/userfiles/images/s%283%29.JPG" style="height:274px; margin-left:10px; margin-right:10px; width:700px" /></strong></span></p>

<p><span style="font-size:16px"><strong>Nepse Figure</strong></span></p>

<p><span style="font-size:16px"><strong><img alt="" src="/userfiles/images/s1%281%29.JPG" style="height:432px; margin-left:10px; margin-right:10px; width:700px" /></strong></span></p>

<p><span style="font-size:16px"><strong>Trend Analysis</strong></span><br />
The benchmark index saw huge changes in the course of last month. Despite all the difficulties and political unrest in the country, Nepse gained a staggering 114.26 points (or up 11.17%) to close at 1137.03. It seems that the monetary policy is still playing a major role in causing the market to be bullish. The index went down to its lowest level (1022) at the beginning of the month, where the 200-day moving average (MA) acted as its support level. Towards the end of the month, the index moved above the 50-day MA, indicating a bullish presence in the market. Majority of the gains experienced by the index was due to the capital plan increment for insurance sector, which caused a hike in the demand for insurance companies. Furthermore, book closure date for attractive microfinance bonuses also hiked up the prices of microfinance banks. &nbsp;</p>

<p><span style="font-size:16px"><strong>Resistance and Support</strong></span></p>

<p><span style="font-size:16px"><strong><img alt="" src="/userfiles/images/s2.JPG" style="height:211px; margin-left:10px; margin-right:10px; width:700px" /></strong></span><br />
The benchmark index reached a height of 1205 in the previous months. Due to numerous political unrests, the index crashed down to 1022 level. However, it bounced back up to 1122 level, and after that the market corrected itself to 1110 level. Nepseclimbed back up, following a bullish move up, and crossed above the resistance level of 1130. Currently, the immediate support level stands at 1130 and the immediate resistance level stands at 1160 level.&nbsp;</p>

<p><span style="font-size:16px"><strong>Nepse Trend Indicator</strong></span><br />
<strong>a. MACD</strong></p>

<p><strong><img alt="" src="/userfiles/images/s3%282%29.jpg" style="height:157px; margin-left:10px; margin-right:10px; width:700px" /></strong><br />
The MACD is a momentum oscillator formed by using two different types of moving averages, which provides specific buying or selling signals. When a MACD line crosses above the signal line, it is considered to be a positive sign and indicates a time to buy, and vice-versa.&nbsp;</p>

<p>The Macd and the signal line, at the beginning of the month,stood at -21.89 and -17.10 respectively. Since the beginning of the month, both the lines have risen steadily. The first half of the month saw the macd line cross above the signal line, which showed a bullish sign in the market. Furthermore, both the lines also entered the positive territory during the second half of the month, sustaining the optimistic sentiment in the market. Towards the end of the month, macd and the signal line ended at 10.86 and 6.47 respectively.&nbsp;</p>

<p><strong>b. RSI</strong></p>

<p><strong><img alt="" src="/userfiles/images/s4%283%29.jpg" style="height:176px; margin-left:10px; margin-right:10px; width:700px" /></strong><br />
RSI is a form of leading indicator that is believed to be most effective during periods of sideways movement. Such indicators may create numerous buy and sell signals that are useful when the market is not clearly trending upwards or downwards.&nbsp;</p>

<p>RSI at the beginning of the month stood at 23.70 level, which signified a high selling pressure in the market. During the first half of the month, the RSI climbed up at a steep rate. At the second half, it hovered around the late 50&rsquo;s and early 60&rsquo;s zone. Moving further up would indicate an overbought condition in the market. In the course of last month, RSI gained 39.24 points to close at 62.94 level.&nbsp;</p>

<p><strong>c. Bollinger Bands</strong></p>

<p><img alt="" src="/userfiles/images/s5%281%29.jpg" style="height:266px; margin-left:10px; margin-right:10px; width:700px" /><br />
The Bollinger Band is a technical indicator that consists of a moving average (21-day) along with two trading bands above (upper band) and below it (lower band). The bands are an indication of volatility, which are represented by calculating standard deviation.&nbsp;</p>

<p>The Bollinger bands also saw significant changes last month. The benchmark index moved up at a steep rate for the first half of the month, where it reached closer towards the upper band, which signified excess demand for securities. For the second half of the month, Nepse hovered between the mid and upper bands. Market volatility has also been on the rise since the past month as the distance between the lower and upper bands have widened.</p>

<p><span style="font-size:16px"><strong>Volume Indicator (On-Balance Volume)</strong></span><br />
On-Balance Volume (OBV) is a momentum indicator that relates volume to the current price of the index or security. It measures buying and selling pressure at the market. It acts as a cumulative indicator that adds volume on up days and subtracts volume on down days. If a price increase is supported by OBV, it confirms an uptrend, whereas if a price decrease is supported by OBV, it confirms a downtrend.&nbsp;</p>

<p><strong><img alt="" src="/userfiles/images/s6%282%29.jpg" style="height:372px; margin-left:10px; margin-right:10px; width:700px" /></strong></p>

<p>As mentioned last month, the rate of decline experienced by OVB is not as much as compared to that of Nepse, which suggests that the bearish situation in the market does not seem to be as strong to continue in the long-run. The rise in the benchmark index is also supported by a steady increase in the OVB. The average monthly volume transactions increased to NPR 37.43 crores from NRP 20.94 crores the month prior. &nbsp;</p>

<p><span style="font-size:16px"><strong>Overview</strong></span><br />
The Nepse index followed a bullish movement in the course of last month. The index gained a staggering 114.26 points (or up 11.17%) to close at 1137.03. It moved above the 50-day moving average as well, supporting the bullish sentiment in the market. The macd crossed above the signal line, and both the lines moved out of the negative territory, signifying a positive outlook of the market. Further rise in the RSI could indicate a possible buying pressure in the market. The Bollinger bands show prevalence of increase in market volatility as the distance between the upper and lower bands are increasing. The new support and resistance level stands at 1130 and 1160 respectively.</p>
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			'title' => ' Preservation of the Soul at Work',
			'image' => '20160122012707_,mg.jpg',
			'short_content' => 'David Whyte in his book, The Heart Aroused, attempted to keep what is tried and true, good and efficient at the centre of our present work life, while opening ourselves to a mature appreciation of the hidden and rather dangerous inner seas where our passions and creativity --  lie waiting. ',
			'content' => '<p><strong>--By Sujit Mundul</strong></p>

<p>David Whyte in his book, The Heart Aroused, attempted to keep what is tried and true, good and efficient at the centre of our present work life, while opening ourselves to a mature appreciation of the hidden and rather dangerous inner seas where our passions and creativity -- &nbsp;lie waiting.&nbsp;</p>

<p>Let us look at the hidden and neglected side of organisational life, where a woman&rsquo;s or a man&rsquo;s soul has been forced to reside. Modern commercial life arises from a love of the upper strata, of material products, of organisational power; it endeavours to celebrate the material, colourful portion of existence. Perhaps, it is the world as we see it or would like to see it and as it most makes sense to us. It has been the basis of the western affluence (now some Asian economies copied the culture to garner the affluence), by the life it has provided many in the west and being the basis of recommendation to many aspirants in the others parts of the globe.</p>

<p>Wordsworth said,&ldquo; a dark invisible workmanship that reconciles discordant elements and makes them move in one society.&rdquo;</p>

<p>Not because what is dark and invisible is necessarily better, but because it is not now joined to what is light and visible to us every day in the organisational world. &nbsp;Seemingly, it has been pushed away and ignored. David Whyte has been of the opinion that this split between our work life and that part of our soul life forced underground, seems to be at the root of much of our current unhappiness. &nbsp;It is now required to look at the stress this split causes in the human psyche and the way the soul attempts to heal and preserve its life amidst the pressures of schedules and ambitions of an individual. Researches over a period of time have revealed that this healing is not a simple recipe for a happy work life. We need to be aware of the fact that there are energies and powers in the world that are greater than any human endeavour, even the mighty business world, which we tend to hold in so much esteem. &nbsp;</p>

<p>Nevertheless our inheritance may tell us, work is not and never has been the very centre of the human universe; and the universe, with wonderful compassion, is willing to take endless pains to remind us of that fact. Once the basic necessities are taken care of, there are other more immediate urgencies central to human experience, and perhaps it is these urgencies which are continually breaking through our fondest hopes for an ordered work life. The split between what is nourishing at work and what is agonising is the very chasm from which our personal destiny emerges, as David Whyte argues.</p>

<p>The field of human creativity has long been a constant source of conflict between the upper world we inhabit everyday and the deeper unleashed energies alive in every element of life. Camille Paglia in her book &ldquo;Sexual Personel&rdquo; has written brilliantly on this turbulent relationship between the two worlds, one seen every day, while the other remains half hidden. &nbsp;The world of commerce has, till now, run a mile from this hidden world. &nbsp;Organisations have more often seen these underground and seemingly eccentric desires as a source of continual interruption into their production and purpose. The good news is that this is changing. Continually calling on its managers and line workers for more creativity, dedication and adaptability, the organisational world is inching towards the very place from where that dedication, creativity and adaptability must emanate; the turbulent place where the soul of an individual is formed and finds expression.</p>

<p>These, probably the first tentative corporate steps towards understanding personal artistry and individual creativity, are bringing to life a curled natural boundary where human begins have always lived uneasily, &ndash; one foot planted solidly in the light filled world, the other desperately looking for identity in the dark unknown. &nbsp;Despite our best hopes and efforts for ourselves and for humanity, this other hidden energy is constantly welling up from the very deep of existence.&nbsp;</p>

<p>From the organisational side, if companies ignore the darker under-belly of their employee&rsquo;s lives for a well-meaning approach, emphasising only the positive, David Whyte points out that they will be forced to rely on expensive management pyramids to manipulate their workers at the price of commitment. One has to remember that adaptability and native creativity on the part of the work-force comes through the door only with their passions; the passions come only with their souls. I believe that their souls love hidden springs boiling and welling at the gravitational point of existence more than they love the company. Perhaps this is a lesson that most of the successful corporates would require to learn sooner than later for their sustainability.</p>

<p style="text-align: right;"><em>Mundul is former CEO of Standard Chartered Bank Nepal where he currently serves as a member&nbsp;of the Board of Directors.</em></p>
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			'title' => ' Eliminating Wastes to Prosper via Kaizen',
			'image' => '20160122014138_mg.jpg',
			'short_content' => 'Among all management concepts and tools, Kaizen is the most humanizing and harmonizing as it engages every section of a commercial organization – from the chief executive to the junior-most rank and file.',
			'content' => '<p><strong>--By Basant Kumar Chaudhar</strong></p>

<p>&ldquo;To improve is to change; to be perfect is to change often,&rdquo; proclaimed Winston Churchill.</p>

<p>Little would have the British statesman realized that what he said then would, decades later, emerge as the essence of a powerful management tool.&nbsp;</p>

<p>Churchill&rsquo;s statement carried the seeds of Kaizen, which Japanese organizational theorist and management consultant Masaaki Imai introduced to the world in his epochal treatise work Kaizen: the Key to Japan&#39;s Competitive Success in 1986.&nbsp;</p>

<p>Though the origin of Kaizen has its roots in the work and research of American management experts following the Second World War, the concept&rsquo;s rigorous and long implementation by companies like Toyota lent it a distinct Japanese complexion. &nbsp;</p>

<p>Later Anthony Robbins and Robert Maurer highlighted the utility of Kaizen principles for personal development. In the book One Small Step Can Change your Life: The Kaizen Way (2004), Maurer showed how individuals can adopt the kaizen approach to enrich both personally and professionally.</p>

<p>The fact is that among all management concepts and tools, Kaizen is the most humanizing and harmonizing as it engages every section of a commercial organization &ndash; from the chief executive to the junior-most rank and file. Man, machine, time and space need to join hands if Kaizen has to be optimally utilized.&nbsp;</p>

<p>Before plunging into the nitty-gritty of this acclaimed concept, let me carry Kaizen to the kitchen. The example will facilitate its understanding for young business executives.</p>

<p>There was this issue of cleaning cutlery in a dishwasher and placing them in the cupboards or drawers. The washer and the drawers were hardly six feet apart in the kitchen. Before application of Kaizen, young daughters of a Kaizen expert used to move the cleaned cutlery from the washer to the drawer in un-assorted bunches. This had to be done as dirty cutlery used to be put into the dishwasher indiscriminately.</p>

<p>As the first step, different cutlery like spoons, forks, knives, ladles, etc. were placed in separate sections of dishwasher&rsquo;s hoarding section. This eliminated the time spent on separating the mixed-up cutlery. As the second step, the girls came up with the idea of moving the entire hoarder after the cleaning and placing it next to the drawers. This eliminated the need for walking to and fro between the dishwasher and the drawers. Now, the washed cutlery could be most conveniently placed in the drawers, the hoarder could be returned to the dishwasher and the job was done.</p>

<p><strong>Result:</strong> (1) Time to complete the process before using kaizen: 1.25 minutes; after using kaizen: 38 seconds. (2) Distance walked per day before kaizen: 60 feet; after kaizen: 6 feet. That meant that the distance walked per year within the kitchen dropped from 4.14 miles to 0.41 miles. The advantage in terms of time, effort and energy saved are obvious.&nbsp;</p>

<p>We know humans are not perfect. Most of what we do is full of imperfections and wastes. Kai means change and Zen means good. &nbsp;Kaizen directs us towards continual improvement. Small improvements by everyone, everyday and everywhere in the organization sum up the spirit of Kaizen. The outcome has been found to be amazing. Small can be big!</p>

<p>Unlike other management tools, say like Sigma and project management techniques, Kaizen is not time bound. It is continuous and endless as there is always scope for improvement. It is a creation of a new mindset and culture across the organisation.</p>

<p>Kaizen gets rid of hard work, motivates employees and creates a sense of belonging and fulfillment among all those who spot wastes and eliminate them.</p>

<p>However, haphazard improvement initiatives do not help. These need to be aligned with the overall company policy and objectives to bear fruit. For this it is essential that the exercise should be backed from the CEO downwards that is there should be buy-in of the concept at all levels.&nbsp;</p>

<p>Kaizen talks of three Gens. (a) Gen-ba means going to the actual place of action like the factory shop floor, construction site, surgery operation theatre, pharmacy distribution desk, hotel reception, etc. Board room meetings, poring over flip charts and excel sheets won&rsquo;t help that much. (b) Gen-butsu tells us to look at the actual parts and components which need change instead of just going through their drawings. (c) Gen-jitsu is all about getting the facts and understanding the need for the real change required. Acting on assumptions can be disastrous. Rely on the reality.</p>

<p>This will help you create a business case for Kaizen. The objectives could include reducing lead times, enhancing delivery performance, eliminating scrap, reducing inventories, increasing capacity, eliminating bottlenecks, reducing changeover time and machine failures, quality improvements, etc.</p>

<p>The goals should be SMART that is Specific, Measurable, Actionable, Realistic and Timely. The team size should be based on the areas targeted for improvement. Though all teams need to have a facilitator and a leader, it is better to have a diverse team rather than a group of having a single mindset. Let the issue be looked at by different eyes. The team must include members from the actual work areas as the best improvement ideas are known to come from persons actually executing the process.</p>

<p>It is vital for the teams to document the current state before executing Kaizen. They should then identify wastes, make the necessary changes, again document the improvement, standardize the process and repeat the process for more improvement. However, before repeating the process it is imperative to make a presentation and invite healthy criticism, and then also celebrate.</p>

<p>At times, time is a major constraint. In such cases one can go in for what has come to be known as Kaizen Blitz or rapid improvement as a focused activity on a particular process. The idea is to identify and remove wastes within one to five days.</p>

<p>Elimination of wastes helps save money, boosts productivity and improves profitability &ndash; the basic essentials for a company&rsquo;s sustainability and growth. &nbsp;</p>

<p>But the key goal is to identify wastes which Kaizen describes as Muda, Mura and Muri. &nbsp;These are Japanese terms. What do these terms signify and how they help us in distinguishing between different types of wastes is a topic in itself. It is vital to understand these nuances to make Kaizen work for you and your organization.</p>

<p><em>(I shall discuss this in my forthcoming column.)</em></p>

<p style="text-align: right;"><em>The author is Chairman of BLC (Bhuramal Lunkarandas Conglomerate) and Basant Chaudhary Foundation and can be contacted at feedback@basantchaudhary.com. Views are personal.</em></p>
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			'title' => ' Meetings: An Alliance, an Affirmation and a Therapy ',
			'image' => '20160122014626_mg1.jpg',
			'short_content' => 'A meeting is an alliance. Each person sitting there endorses a coming together of ideas and direction. Even a dissent, a disagreement and an argument are a valuable dimension of the discussion.  In fact, it is a strategic alliance for it brings together the varied competencies of the attendees towards the points of conversation. ',
			'content' => '<p style="text-align: center;"><span style="font-size:16px"><em>A meeting is an affirmation. It affirms the identity, the role, the existence of each of its members.</em></span></p>

<p><strong>--By Vaijayanti Khare&nbsp;</strong></p>

<p>A&nbsp;meeting is an alliance. Each person sitting there endorses a coming together of ideas and direction. Even a dissent, a disagreement and an argument are a valuable dimension of the discussion. &nbsp;In fact, it is a strategic alliance for it brings together the varied competencies of the attendees towards the points of conversation.&nbsp;</p>

<p>A meeting is an affirmation. It affirms the identity, the role, the existence of each of its members. And that of the entire group at the meeting. It is an affirmation of each person&rsquo;s relation with the organisation, with the others at the meeting, and of course, with himself. &nbsp;It is an affirmation of the role, the ability and the confidence of each person. Even a negation is in fact an affirmation.&nbsp;</p>

<p>I am sure you rarely thought of a meeting as this. &nbsp;Perhaps, you began this page by relating to the picture in the box. I put that there with a reason. I can see that you &lsquo;grabbed&rsquo; that mug. Let me help you &lsquo;drop&rsquo; it!</p>

<p>A meeting, above all, is what you bring to it. What you make of it. And, what you take away from it. You may be the lead chair, a senior or mid-senior member or a new entrant on a meeting, and yet you are the meeting maker. There can be no observers or &lsquo;i-care-a-damn&rsquo; member &ndash; such a person should rather excuse herself from the meeting.&nbsp;</p>

<p>A meeting is one of the best places for the Meaning Quotient of you as an individual, you as an organisation and you as the relation and equation of both these. Do not be fooled by convenient jargon like internal meeting, external meeting, meeting with clients, meeting with employee, high-end meeting &hellip;.the list can be endless. Each meeting is as important as the other, if you respect yourself. &nbsp;Each meeting is a value you put in or give yourself. &nbsp;</p>

<p>A meeting is a therapy. It is a point in time, a location in space; and like a Cartesian grid it is where you are placed. It allows you to harness all your energies and that of the others around you, and it is the place for decisions, direction, assimilation, connections and completion. A meeting should ideally make you more you, if you understand it as such. &nbsp;It therefore heals, rejuvenates, makes anew, rebuilds and reinforces.&nbsp;</p>

<p>If you think I am talking meta-physics, then what can be simpler than a meeting to realise your metaphysical self?! !&nbsp;</p>

<p>Each aspect of a meeting may have been talked about by your communication trainers, written out in management text books, discussed at the meetings and more often outside the meetings. And you feel that nothing changes about the meetings. Well, that&rsquo;s not surprising &ndash; because you have not changed anything about yourself or about the meetings yourself!! You think some &lsquo;outside&rsquo; force is responsible for that change.&nbsp;</p>

<p>Meetings drone on, and are made into the waste-of-time, the ineffective and the meaningless exercise it seems because most have lost the purpose of a meeting, or even worse, lost their own purpose of being in that position, role, organisation et al. &nbsp;</p>

<p>Any meeting can become a &lsquo;drag&rsquo; even before it begins. Every person is responsible for changing that.</p>

<p>The essential elements of a meeting are objective, time, process and summation. A meeting is meaningful when it achieves objectives,when it takes up a minimum amount of time and when you feel that a sensible process has been followed. A meaningful, effective meeting can be the norm and not the exception when one structures the planning, preparation, execution, and follow up around three basic criteria.</p>

<p><strong>Objective: </strong>An effective meeting serves a useful purpose. This means that in it, you achieve a desired outcome. For a meeting to meet this outcome, or objective, you have to be clear about what it is. Too often, people call a meeting to discuss something without really considering what a good outcome would be. Clearly spell out the objective of each point on the agenda &ndash; a decision? Generate ideas? A status report? Information? A plan? And such. &nbsp;With the end result clearly defined, you can then plan the contents of the meeting, and determine who needs to be present.</p>

<p>It is imperative that an agenda be made and sent out well in advance even if it is a routine, scheduled meeting. To prepare an agenda, consider the following factors:<br />
&bull; Priorities &ndash; what must be covered?<br />
&bull; Results &ndash; what do you need to accomplish?<br />
&bull; Participants &ndash; who needs to attend?<br />
&bull; Sequence &ndash; in what order will you cover the topics?<br />
&bull; Timing &ndash; how much time will you spend on each topic?<br />
&bull; Date and Time &ndash; when will the meeting take place?<br />
&bull; Place &ndash; where will the meeting be? The arrangements needed?&nbsp;</p>

<p><br />
<strong><img alt="" src="/userfiles/images/mg2jh.JPG" style="float:right; height:804px; margin:5px; width:300px" />Time: </strong>&nbsp;Time is a precious resource, and no one wants their time wasted. With the amount of time we all spend in meetings, you owe it to yourself and your team to streamline the meeting as much as possible. What&#39;s more, time wasted in a meeting is time wasted for everybody attending. For example, if a critical person is 15 minutes late in an eight person meeting, that person has cost the organisation two hours of lost activity.</p>

<p>Starting with your meeting objective, everything that happens in the meeting should further that objective. If it is superfluous, it should not be included. With an idea of what needs to be covered and for how long, you can then look at the information that should be prepared beforehand. What do the participants need to know in order to make the most of the meeting time? And, what role are they expected to perform in the meeting, so that they can come prepared.</p>

<p>If it is a meeting to solve a problem, ask the participants to come with suggestions of a viable solution. If you are discussing an ongoing project, have each participant summarise her progress to date and circulate the report beforehand, ideally. &nbsp;Assigning a particular topic of discussion to a relevant person is a good practice to increase involvement and interest. On the agenda, indicate who will lead the discussion or presentation of each item.</p>

<p>Use your agenda as your time guide. When you notice that time is running out for a particular item, consider hurrying the discussion, pushing to a decision, deferring discussion until another time, or assigning it for discussion by a subcommittee. An important aspect of running effective meetings is insisting that everyone respects the time allotted. Start the meeting on time, do not spend time recapping for latecomers, and, when you can, finish on time.&nbsp;</p>

<p><strong>Sensible Process:</strong> Begin sensibly by preparing and circulating agenda. Invite feedback and inputs. Spread the feeling of participation rather than being dictatorial. Perhaps there is something important that a member wishes to add. Maybe you have allotted too much, or too little, time for a particular item. There may even be some points you have included that have been settled already and can be taken off the list for discussion. It is important you get feedback from the meeting participants about the proposed agenda.</p>

<p>Proceed sensibly and sensitively. If certain people are dominating the conversation, make a point of asking others for their ideas. At the end of each agenda item, quickly summarise what was said, and ask people to confirm that that&#39;s a fair summary. Then make notes regarding follow-ups. Note items that require further discussion. Watch body language and make adjustments as necessary. Maybe you need a break, or you need to stop someone from speaking too much. Ensure the meeting stays on topic. List all tasks that are generated at the meeting. Make a note of who is assigned to do what, and by when. At the close of the meeting, quickly summarise the next steps and inform everyone that you will be sending out a meeting summary.</p>

<p>After the meeting is over, take some time to debrief, and determine what went well and what could have been done better. Evaluate the effectiveness based on how well you met the objective. This will help you continue to improve your process of running effective meetings.</p>

<p>Finally, prepare the meeting summary, circulate to all participants and other stakeholders. It is a record of what was accomplished and who is responsible for what as the team moves forward. This is a very crucial part of effective meetings that often gets overlooked. You need a written record of what transpired, along with a list of actions that named individuals have been assigned to perform. Make sure someone is assigned to take notes during the meeting if you think you will be too busy to do so yourself.</p>

<p>It is easy to make the &lsquo;meetings&rsquo; in your Organisation a &lsquo;culture statement&rsquo;. It is a simple way of inculcating values of respect, purpose, integrity and performance. Ever thought of having a &lsquo;rating&rsquo; system for all your meetings, making it a criteria for &lsquo;performance of a unit or department&rsquo;, having a &lsquo;meeting mentor&rsquo; to bring about the necessary change in the way you meet. A &lsquo;Meeting&rsquo; is a strong &lsquo;Change agent&rsquo; in itself, let us harness it.</p>

<p>Vaijayanti Khare is known for her dynamic engagements in the corporate, academic, social and development fields in Kathmandu over the past decade. Her writings are a reflection of her hands-on work, insights, studies, success and challenges.</p>
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			'magazine_issue_id' => '957',
			'magazine_category_id' => '19',
			'title' => 'Kantipur Valley College : A Launch Pad to Success',
			'image' => '20160125023816_cf3.jpg',
			'short_content' => 'Back in 1981 just another non-descript school was established in Kathmandu, in a capital city full of schools. But it all changed in 2002 when the school changed into a higher education institution becoming Kantipur Valley College (KVC). And for the past 13 years it has been providing high quality education in management in graduate and undergraduate levels. ',
			'content' => '<div class="content-wrapper" style="box-sizing: border-box; padding-left: 10px;">
<div class="highlight-column" style="box-sizing: border-box; width: 200px; padding: 5px; float: right; clear: left; margin-left: 5px; margin-top: 5px; margin-bottom: 5px; text-align: center; background: rgb(247, 230, 171);">
<p><span style="font-family:helvetica neue,helvetica,arial,sans-serif; font-size:14.84px"><img alt="Jeetendra Amatya Vice Principal, KVC" src="/userfiles/images/cf5%286%29.jpg" style="height:236px; width:190px" /></span><strong>Jeetendra Amatya</strong><br />
Vice Principal, KVC</p>
</div>
</div>

<p>Back in 1981 just another non-descript school was established in Kathmandu, in a capital city full of schools. But it all changed in 2002 when the school changed into a higher education institution becoming Kantipur Valley College (KVC). And for the past 13 years it has been providing high quality education in management in graduate and undergraduate levels.&nbsp;</p>

<p>&ldquo;The idea for starting the college came from my father, Pushpa Man Amatya, who is also the principal of the college,&quot; says Jeetendra Amatya, vice principal of KVC. And in 2002, KVC began its journey as a full-fledged business college with BBA programmes. Pushpa Man Amatya is highly reputed name among educators, not only in Lalitpur, but also in the country&#39;s high education.</p>

<p>Like any new institution, it started off small. &ldquo;The college had only 8 BBA students at the start,&rdquo; recalls Amatya. Today, more than 800 students fill its corridors and classrooms.</p>

<p>Over the years the courses offered by KVC (which is affiliated to Purbanchal University) have grown exponentially. Education at a reasonable cost is the working mantra of the college. Today it has courses in B-Tech (Biotechnology), Bachelors of Business Administration (BBA), Masters of Business Administration (MBA) and Executive Masters of Business Administration (EMBA),&rdquo; says Amatya with obvious pride.</p>

<p>&ldquo;We hold the belief that the college is a multicultural, co-educational and open minded learning centre where students are not just prepared academically but are also taught to face the emerging challenges in the modern world,&rdquo; he adds.</p>

<p>Located at Kumaripati, Lalitpur, KVC strives to provide a holistic and progressive education, producing well cultured, independent minded, self disciplined, self aware, morally responsible, intellectually bright and socially outstanding citizens.&nbsp;</p>

<p>&ldquo;It is a matter of pride for us that on our journey so far we have produced many top class candidates who are now employed in different reputed organisations,&ldquo; states Amatya.&nbsp;</p>

<p><span style="font-size:16px"><strong>Why KVC?</strong></span><br />
KVC is one of the colleges in the capital with a reasonable cost structure. It sees it mission as to provide quality education with direct benefits for its students at a very minimum cost. It is also one of the toppers (with CGPA 4) among the Purbanchal University affiliated colleges and students themselves seem to refer other students to join KVC.&nbsp;</p>

<p>Certain promotional schemes of the college stand out. The new scheme for EMBA students is a case in point. &ldquo;EMBA students have to pay Rs 200,000 in the beginning and after two years of payment, the student will get Rs 150,000 as a refund,&quot; reveals Amatya. He adds that such promotional schemes have immediate &nbsp;benefits for the students and long term benefits for the college.</p>

<p>&quot;KVC focuses on skills development along with academic excellence. Like in foreign colleges, students of BBA, MBA can create small jobs while at college and get incentives,&quot; Amatya says. According to him, the EMBA course has attracted students who have already worked at the executive level like bankers, bank CEOs, heads of IT departments, vice-principals of colleges and young business entrepreneurs with their own businesses.</p>

<p><img alt="" src="/userfiles/images/cf4%287%29.jpg" style="margin-left:10px; margin-right:10px" /></p>

<p><span style="font-size:16px"><strong>New Directions</strong></span><br />
At the start, trying to fulfill student demand was a little difficult for the college. &ldquo;As time passed we have gotten over many hurdles and there will be many more in the days to come,&rdquo; says Amatya. But the outlook remains positive. Seeking to broaden its appeal, KVC is coming up with many additional courses like Hotel Management, Information Technology and Engineering.</p>

<p>The college also has aspirations to be granted the status of a deemed university. Amatya says that though policies and guidelines still need to be put in place.&nbsp;</p>

<p><span style="font-size:16px"><strong>Job Placement</strong></span><br />
Most of the students become involved in the banking sector. The college says, students who have passed from KVC have given a positive response regarding their future jobs. Till date, internship and job placements are easy for KVC students.&nbsp;</p>

<p><span style="font-size:16px"><strong>CSR Activities</strong></span><br />
Kantipur Valley College sees the business fair as part of its corporate social responsibility. The college actively participates in fairs organised by other colleges. &ldquo;Our college is fully dedicated to provide support for the deserving students.&quot; Similarly, Sanjay Pandit BBA student in KVC, now recognised as a Nepali long distance runner who has also successfully traversed the peaks of seven continents, has expressed his happiness at KVC for launching his career, says Amatya.</p>

<div style="background: rgb(247, 230, 171);padding:10px">
<p><span style="font-size:18px"><strong>SWOT Analysis</strong></span><br />
<span style="font-size:16px"><strong>Strengths</strong></span><br />
&bull; Trust of students<br />
&bull; Belief of Faculty Members<br />
&bull; Strong relationship between management and faculty members</p>

<p><span style="font-size:16px"><strong>Weaknesses</strong></span><br />
&bull; KVC aims to have modern equipped and updated library for students&nbsp;<br />
&bull; Common library for Purbanchal University affiliated college</p>

<p><span style="font-size:16px"><strong>Opportunities</strong></span><br />
&bull; Great opportunity for creating university</p>

<p><span style="font-size:16px"><strong>Threats</strong></span><br />
&bull; Update with tim</p>
</div>
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			'title' => 'Ngadi: Lighting Up Homes',
			'image' => '20160125024719_cf7.jpg',
			'short_content' => 'Ngadi Hydropower makes a real effort to practice the principles of management effectively.  For this, in every different project it operates, it registers a separate company to shorten the financial hurdles and for the smooth operation of the projects. At present, the company has two projects-one is Siuri Khola and another called Super Nyadi Hydropower. Suiri project is already generating and selling electricity while for Super Nyadi, the company has received survey license and feasibility study is going on.',
			'content' => '<div class="content-wrapper" style="box-sizing: border-box; padding-left: 10px;">
<div class="highlight-column" style="box-sizing: border-box; width: 200px; padding: 5px; float: right; clear: left; margin-left: 5px; margin-top: 5px; margin-bottom: 5px; text-align: center; background: rgb(247, 230, 171);">
<p><span style="font-family:helvetica neue,helvetica,arial,sans-serif; font-size:14.84px"><img alt="Shailendra Guragain, Managing Director, Ngadi Hydropower" src="/userfiles/images/cf2%2811%29.jpg" style="height:236px; width:190px" /></span><strong>Shailendra Guragain</strong><br />
Managing Director<br />
Ngadi Hydropower</p>
</div>
</div>

<p>A&nbsp;good way to assess Ngadi Hydropower&rsquo;s journey so far would be to weigh its current achievements with the targets and aims it had laid out at its inception. Ngadi Group Power Ltd. was founded in February 2006 as private limited company and later in June, 2014 it was converted into a public limited company.</p>

<p>&ldquo;We started from scratch, the progress that we are witnessing right now is satisfactory,&rdquo; says the company&rsquo;s managing director, Shailendra Guragain, while adding, &ldquo;We do not have many products to sell in the market. All we do is produce energy to make sure that no one lives in the dark.&rdquo;&nbsp;</p>

<p>Identifying itself as a company with technically feasible and environmentally sustainable hydropower projects, the power company says it is committed towards operational excellence, good governance and corporate citizenship.</p>

<p><span style="font-size:16px"><strong>Milstones</strong></span><br />
Guragain stresses that whenever an additional home in Nepal &nbsp;gets electricity, he considers it as a milestone in the company&rsquo;s journey. &ldquo;As a trader in energy, we believe that our overarching goal is to provide electricity access to households throughout the country using highly skilled and experienced team members,&rdquo; says Guragain.</p>

<p><span style="font-size:16px"><strong>Organisation&rsquo;s Approach</strong></span><br />
Ngadi Hydropower makes a real effort to practice the principles of management effectively. &nbsp;For this, in every different project it operates, it registers a separate company to shorten the financial hurdles and for the smooth operation of the projects. At present, the company has two projects-one is Siuri Khola and another called Super Nyadi Hydropower. Suiri project is already generating and selling electricity while for Super Nyadi, the company has received survey license and feasibility study is going on. The promoters duo Dr. Bhogendra Kumar Guragain and Shailendra Guragain are also promoters of River Falls Hydro that is promoting 3 projects in Eastern Nepal. The major promoters of this company already have experience of Barun Hydro power and Arun Valley Hydropower in which they are still directors. The company does not forget to make a positive impact in the livelihoods of the local population where it works either. &ldquo;We have also been able to raise the living standards of the people living around the project site by providing contractual employment to the locals as well as others,&rdquo; states Guragain.</p>

<p><span style="font-size:16px"><strong>Corporate Social Responsibility</strong></span><br />
The company&rsquo;s approach to CSR is also hands on and on the ground. &ldquo;All of our project construction sites are situated far from villages. Thus, in order to reach the site, we have constructed roads which provide access to many villages on its way,&rdquo; says Guragain. &ldquo;Wherever we run our projects, we have been able to completely change the face of that village.&rdquo;&nbsp;</p>

<p><span style="font-size:16px"><strong>&nbsp;Strengths</strong></span><br />
Equipped with highly experienced professionals and dedicated team members, Ngadi hydropower has been able to encourage its staff members and excel at work. The company believes that gaining public trust by delivering excellent work can help build a relationship with the project stakeholder. &ldquo;This, I believe, is one of the strengths of our company,&rdquo; states Guragain.</p>

<p><span style="font-size:16px"><strong>Weaknesses</strong></span><br />
For any company in the sector dealing with foreign investors is a must in order to scale up the business. &ldquo;While doing this, the management sometimes needs to negotiate with people who are narrow minded and need to take harsh decisions. Those decisions have sometimes proven to be costly,&rdquo; admits Guragain.&nbsp;</p>

<p><span style="font-size:16px"><strong>Opportunities and Threats</strong></span><br />
With the increasing focus on energy and the realisation that energy security is the most important factor for the nation, Ngadi has taken this as an opportunity to scale up its business. However, the company laments that unclear guidelines and directions on the government&rsquo;s side has been creating obstacles for further investment. &ldquo;The risks posed by an external environment, especially from the policy makers, can hamper making predictions and threaten our company&rsquo;s smooth operation,&rdquo; points out Guragain.</p>

<p><span style="font-size:16px"><strong>Board of Directors</strong></span><br />
Ngadi group is equipped with experts as well as highly experienced professionals. The board member consist of Dr. Bhogendra Kr. Guragain as a Exectuive Chairman, Shailendra Guragain as &nbsp;a Managing Director, Dinesh Gurung as Director and Robin Subedi as Director of the company.</p>

<p><span style="font-size:16px"><strong>Future Endeavours</strong></span><br />
Equipped with highly experienced professionals, Ngadi Hydropower believes it can build large hydro projects in the country. &ldquo;We have the confidence to build even 100mw projects in the country,&rdquo; says Guragain. It ultimately believes that it can produce electricity with the help of domestic investment, domestic experts and domestic human resources.&nbsp;</p>

<p><span style="font-size:16px"><strong>Projects Established by the Company</strong></span><br />
<strong>1. Siuri Khola Small Hydropower Project (5000 KW)</strong><br />
Located in Bhulbhule VDC of Lamjung district, the project has an installed capacity of 5 MW with a design discharge of 1.4 m3/sec. After the completion of first feasibility study of Siuri Khola Small Hydropower Project in 2005, the power purchase agreement with an installed capacity of 990 kW with Nepal Electricity Authority was completed based on the same feasibility study of 990kw capacity on 2006. However, this detail project study report carried out was prepared for the upgraded size of the project from 990 kW to 5000 kW for project implementation. The PPA was signed with NEA on February &nbsp;2008.&nbsp;</p>

<p>Hydrology of the project indicates that the river has discharge of 0.57 m3/sec at Q65 discharge and 1.69 m3/sec at Q40, is enough for fulfilling the requirement of the project.</p>

<p><strong>Location of Project Site :</strong> &nbsp;&nbsp; &nbsp;Bhulbhule VDC<br />
<strong>Type of Turbine&nbsp;&nbsp; &nbsp;:</strong> &nbsp;&nbsp; &nbsp;Pelton (Impulse)<br />
<strong>Rated Output for each unit&nbsp;&nbsp; &nbsp;: </strong>&nbsp;&nbsp; &nbsp;2650 kW<br />
<strong>Generator Rated &nbsp;Output for each unit&nbsp;&nbsp; &nbsp;: </strong>&nbsp;&nbsp; &nbsp;3150 kVA&nbsp;<br />
<strong>Transformer Capacity&nbsp;&nbsp; &nbsp;:</strong> &nbsp;&nbsp; &nbsp;3*2100 kVA<br />
<strong>Transmission Length&nbsp;&nbsp; &nbsp;: </strong>&nbsp;&nbsp; &nbsp;8 km<br />
<strong>Transmission Voltage &nbsp;&nbsp; &nbsp;: </strong>&nbsp;&nbsp; &nbsp;33 KV<br />
<strong>Interconnection Point&nbsp;&nbsp; &nbsp;: </strong>&nbsp;&nbsp; &nbsp;Switching Station &nbsp;&nbsp; &nbsp;&nbsp;&nbsp; &nbsp;&nbsp;&nbsp; &nbsp;at Nyadi, Lamjung<br />
<strong>Installed Capacity&nbsp;&nbsp; &nbsp;: </strong>&nbsp;&nbsp; &nbsp;4950kW<br />
<strong>PPA Date (990 kW)&nbsp;&nbsp; &nbsp;: </strong>&nbsp;&nbsp; &nbsp;2007 Aug 02 &nbsp;&nbsp; &nbsp;&nbsp;&nbsp; &nbsp;&nbsp;&nbsp; &nbsp;&nbsp;&nbsp; &nbsp;(2064/04/17)<br />
<strong>PPA Date (3960 kW)&nbsp;&nbsp; &nbsp;: </strong>&nbsp;&nbsp; &nbsp;2009 Jan 19 &nbsp;&nbsp; &nbsp;&nbsp;&nbsp; &nbsp;&nbsp;&nbsp; &nbsp;&nbsp;&nbsp; &nbsp;(2065/10/06)<br />
&nbsp;<br />
<strong>2. Super Nyadi Hydropower Project&nbsp;(40.27 MW)</strong><br />
As per the application submitted to DoED for the Survey License on 2071/05/18, the project is identified for 40.27 MW. The Company has already signed with Clean Energy Consultants Pvt. Ltd. for the feasibility study of the project. Desk study report has finalized the project salient features and all the project components are purposed to be constructed at right bank of Nyadi river.</p>

<p><strong>Location of Project Site &nbsp;&nbsp; &nbsp;: &nbsp;</strong>&nbsp; &nbsp;Bahundada and Bhulbhule&nbsp;VDCs, Lamjung District.<br />
<strong>Type of Scheme &nbsp;&nbsp; &nbsp;:</strong>&nbsp;&nbsp; &nbsp;Run-of-River<br />
<strong>Water Source &nbsp;&nbsp; &nbsp;:</strong>&nbsp;&nbsp; &nbsp;Ngadi River<br />
<strong>Installed Capacity &nbsp;&nbsp; &nbsp;:&nbsp;</strong>&nbsp; &nbsp;40.27 MW</p>

<p><span style="font-size:16px"><strong>Stock Offerings</strong></span><br />
Recently, the company floated Initial Public Offering (IPO) for the locals of the project site and 486,868 units of shares (face value Rs. 100) have been already allocated to them. Now they are planning for IPO for the general public.</p>
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			'title' => 'SDBL eMerging into the Future',
			'image' => '20160125025330_cf.jpg',
			'short_content' => 'In a reflection of the times, Siddhartha Development Bank Limited (SDBL), one of the country’s top five national level development banks, is proceeding to merge into it Ekata Bikash Bank and Nepal Awas Finance as per the NRB directive for increasing the paid-up capital. ',
			'content' => '<div class="content-wrapper" style="box-sizing: border-box; padding-left: 10px;">
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<p><span style="font-family:helvetica neue,helvetica,arial,sans-serif; font-size:14.84px"><img alt="Ajaya Kumar Mishra, CEO, SDBL" src="/userfiles/images/cf1%2818%29.jpg" style="height:236px; width:190px" /></span><strong>Ajaya Kumar Mishra</strong><br />
CEO, SDBL</p>
</div>
</div>

<p>In a reflection of the times, Siddhartha Development Bank Limited (SDBL), one of the country&rsquo;s top five national level development banks, is proceeding to merge into it Ekata Bikash Bank and Nepal Awas Finance as per the NRB directive for increasing the paid-up capital.&nbsp;</p>

<p>This also comes as a response to the general status quo that exists in Nepal between development and commercial banks. &ldquo;A&rdquo; Class commercial banks dominate Nepal&rsquo;s banking sector. The investment portfolio of development banks makes up only 13.62 percent of the total investment. Based on the monthly statistical data of Nov 2015, the credit lending of development banks has lowered by 6.22 percent compared to October 2015, while there is an increase in credit lending by 1.15 percent in the case of commercial banks. Among the development banks, SDBL&rsquo;s share is around 3.24 percent in terms of investment which is quite significant.&nbsp;</p>

<p>In all, once the merger happens, the bank&rsquo;s paid-up capital will rise to around Rs 1.15 billion. &ldquo;The Bank will meet the requirement through the issuance of bonus shares and right shares in the coming years,&rdquo; informs bank&#39;s Chief Executive Officer Ajaya Kumar Mishra.</p>

<p>Further explaining reasons for the merger, Mishra says, &ldquo;We chose Ekata Bikash Bank to strengthen our business base in the west of the country and Nepal Awas Finance for its unutilized capital base,&rdquo; adding, &ldquo;After the merger we will have a very strong presence in the western part of Nepal.&rdquo;&nbsp;</p>

<p>Mishra agrees on the central bank&rsquo;s decision to lift the paid-up capital of BFIs. &ldquo;I think the NRB move to increase capital of BFIs is appropriate and relevant. Considering the national economy, macroeconomic environment and increased competition among BFIs, the level of risk is increasing day by day. So, to minimise the risk level by increasing the risk appetite of the bank, NRB&rsquo;s approach to increase the capital base is justifiable.&rdquo; He adds, however, that the two year time frame maybe of some concern, although Mishra is confident that his bank will meet the capital requirement in time.</p>

<p>The bank has been able to generate profit in the last two years. Though the bank was unable to provide a return to its shareholders in recent years, it has managed to provide an 11 percent bonus share from the profit and reserves of FY 2014/15. The net profit in FY 2014/15 stands at Rs 142 million. The volume of business has significantly increased in the last five years. Deposit and credit lending have increased from Rs 4 billion and Rs 3.69 billion respectively to Rs 6.98 billion and Rs 5.71 billion.</p>

<p>Also the bank recently signed a remittance agreement with Deva Bikash Bank to expand the service of SDBL&rsquo;s trust remit. Under the agreement cash can be sent and received from all branches of Deva Bikash Bank through SDBL&rsquo;s Trust Remit.&nbsp;</p>

<p>One thing that Mishra notes is that the central bank should simplify and speed up the merger of BFIs. &ldquo;Delays in mergers can create a lot of issues and cause mergers to fail. Sometimes it takes four months to get LOI and another year to complete the process. If NRB simplifies its process, mergers can be concluded within six months,&rdquo; views Mishra.</p>

<p><span style="font-size:16px"><strong>About SDBL</strong></span><br />
Siddhartha Development Bank is the first development bank of the western region. It was formally established in 1999 and started operating from 2000 as a regional level development bank. Soon it raised its paid up capital by 5 times and was upgraded into a national level development bank. This was a milestone in the Nepali banking industry and SDBL is the first which successfully and increased its capital base by five times. The total paid-up capital of the bank has been increased to Rs 715.9 million after the issuance of recent bonus shares of 11 percent. Currently, the bank&rsquo;s deposit and lending stand at Rs 7.28 billion and Rs 6.37 billion respectively.</p>

<p>&ldquo;We are focusing on consolidating the business and enhancing the asset quality.&rdquo; Mishra stresses, &ldquo;Our focus is on building a strong brand image of the bank.&rdquo;</p>

<p>SDBL is the number one development bank in terms of ATM card users. The Bank has been providing its services from 18 branches and 19 ATMs located at various parts of Nepal from Biratnagar in the east to Dhangadhi in the west.</p>

<p>&ldquo;We are innovative and are continuously responding to the demands of our customers from the urban areas to the rural. We focus on customer choices and preferences,&rdquo; states Mishra. The bank currently has around 90,000 customers.&nbsp;</p>

<p><span style="font-size:16px"><strong>Market Strategy</strong></span><br />
The bank considers commercial banks as competitors and has developed different credit and deposit schemes to attract customers away from commercial banks. For example, it has been working at lowering the cost of funds by seeking low cost deposits so that credit can be lent at low competitive rates.&nbsp;</p>

<p><span style="font-size:16px"><strong>Products and Services&nbsp;</strong></span><br />
&ldquo;We have a unique product called the &lsquo;Siddhartha Retirement Fund&rsquo; in which we manage the retirement funds of more than 10,000 employees and 350 institutions. It is approved by the Inland Revenue Office and we have a very large clientele,&rdquo; reveals Mishra. Other services the bank has introduced cover home loans with life insurance policies, and mobile banking services. Its SDBL Trust Remit service has around 1000 agents across the country.&nbsp;</p>

<p><span style="font-size:16px"><strong>CSR</strong></span><br />
The bank has employed the differently-abled and has distributed stationery items, clothes etc to homeless children, orphanages at various times. The bank has also been active in Lumbini and helped at various old age homes. &ldquo;We also served the victims of the April 25 earthquake,&rdquo; says Mishra.</p>

<div style="background: rgb(247, 230, 171);padding:10px">
<p><span style="font-size:18px"><strong>SWOT Analysis</strong></span><br />
<span style="font-size:16px"><strong>Strengths</strong></span><br />
&bull;&nbsp;&nbsp; &nbsp;Customer base and competent staff<br />
&bull;&nbsp;&nbsp; &nbsp;Attractive deposit mix where savings and fixed deposits comprise around 77 percent of the total deposit<br />
&bull;&nbsp;&nbsp; &nbsp;Institutional call deposit is below&nbsp;<br />
Rs 100 million<br />
&bull;&nbsp;&nbsp; &nbsp;Strategically located branches</p>

<p><span style="font-size:16px"><strong>Weaknesses/Areas to Improve</strong></span><br />
&bull;&nbsp;&nbsp; &nbsp;The bank needs to recover some problematic loans. Management has been working to recover these loans&nbsp;</p>

<p><span style="font-size:16px"><strong>Opportunities</strong></span><br />
&bull;&nbsp;&nbsp; &nbsp;Due to NRB recent policy to increase paid up capital, there will be sharp decline in the number of development in Nepal<br />
&bull;&nbsp;&nbsp; &nbsp;After the current political unrest and implementation of New constitution, market will witness sharp growth and there will be ample of opportunities for stable and strong banks</p>

<p><span style="font-size:16px"><strong>Threats</strong></span><br />
&bull;&nbsp;&nbsp; &nbsp;Surviving the current political and economic unrest and retaining competitive staff</p>
</div>
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			'short_content' => 'Nepal Electricity Authority (NEA) and Nepal Oil Corporation (NOC) are two energy monopolies of the state which, everyone agrees, have grown sick to the core and need serious overhauling. Both were created during the Panchayat system and have undergone little reforms since then. The NEA enjoys complete monopoly in the field of hydroelectricity.',
			'content' => '<p><em><span style="font-size:16px">Nepal&#39;s current fuel crisis has brought to the fore the long overdue task of restructuring the creaking and ailing energy sector</span></em></p>

<p><strong>--By Akhilesh Tripathi and Jiban Basnet</strong></p>

<p>Nepal Electricity Authority (NEA) and Nepal Oil Corporation (NOC) are two energy monopolies of the state which, everyone agrees, have grown sick to the core and need serious overhauling. Both were created during the Panchayat system and have undergone little reforms since then. The NEA enjoys complete monopoly in the field of hydroelectricity. Besides being the sole buyer of electricity in Nepal, the NEA is also the developer, generator and distributor of the commodity.&nbsp;</p>

<p>Similarly, the NOC is the state&rsquo;s oil monopoly; it is the sole importer of petrol, diesel, kerosene, aviation fuel, LPG etc.</p>

<p>Dozens of reports detailing the severe cracks in these unfortunate institutions have been gathering dust on government shelves. One conclusion comes out of all these reports - - a serious overhauling is necessary. While the NOC needs to be privatized whole, in NEA&rsquo;s case too, there is general consensus among the experts and authorities that most of its current functions need to be privatised.&nbsp;</p>

<p>Both NOC and NEA do make headlines, but almost always for all the wrong reasons. &ldquo;Let there be no room for doubt that these are far from fit corporations,&rdquo; says former finance minister Dr Ram Sharan Mahat, &ldquo;They need huge reforms for the restructuring of the country&rsquo;s energy sector.&rdquo;</p>

<p><img alt="" src="/userfiles/images/cs1%286%29.JPG" style="height:311px; margin-left:10px; margin-right:10px; width:700px" /></p>

<div style="background: rgb(247, 230, 171);padding:10px">
<p><span style="font-size:16px"><strong>National Transmission Grid Company (NTGC)</strong></span><br />
Different ministries hold stakes in the NTGC. Ministries of energy, finance, defense, home affairs, forest and soil conservation, science, technology and environment, and land reforms and management are the promoters of NTGC. The board of NTGC will have representations from all the ministries. The company plans to bring all transmission lines from NEA under its ambit. The company will have an authorised capital of Rs 25 billion and issued capital of Rs 5 billion. Its shares will have a face value of Rs 1,000 each.&nbsp;</p>

<p>Ministry of Energy owns 700,000 units of shares in the company, while NEA and Ministry of Finance hold 500,000 and 400,000 units of shares, respectively. Likewise, Ministry of Forest and Soil Conservation, Ministry of Environment, Science and Technology, Ministry of Land Reforms and Management, Ministry of Information and Communications, Ministry of Defense and Ministry of Home Affairs hold 80,000 units of shares each.&nbsp;</p>

<p>The proposed company plans to introduce a wheeling charge system to generate resources. &quot;The government will decide the wheeling charge for the time being. Later on, it will be decided by the Electricity Regulatory Commission,&rdquo; said Suman Prasad Sharma, secretary at MoE.</p>

<p>According to Sharma, separation of transmission lines related work from NEA by forming the NTGC is the first stage of NEA unbundling. &ldquo;We have also planned to form a Public Generation Company and a Power Trading Company, later. The NEA will only have distribution department with it after separate companies are formed for generation, transmission and trading,&rdquo; said Sharma.</p>
</div>

<p><span style="font-size:16px"><strong>NEA&rsquo;s Woes</strong></span><br />
NEA was established 30 years ago out of the then Nepal Electricity Corporation by nationalising some private power producers and removing some functions of the Ministry of Water Resources. Since then, it has been solely responsible for the development, generation, procurement, transmission and distribution of hydroelectricity in the country. However, it has been able to carry out none of these responsibilities properly and effectively. No change in its structure has been introduced since it was established in 1985. Private producers, energy experts and policy makers are unanimous in their view that this institution with a monopoly over generation, transmission and distribution has not been able to work as per its goal and responsibilities.</p>

<p>As the energy crisis deepens, some even blame that the NEA itself is hindering energy development in the country. &nbsp;</p>

<p>Projects being constructed by NEA including Chameliya, Kulekhani III, Rahughat, Upper Trishul 3A and others are facing problems due to delays, huge variation orders, and compensation claims of contractors. The NEA management, however, has failed to deal with these problems and the projects have been delayed, and cost of construction escalated as a result. Inability to take timely decisions, not making payments as per the bid agreement, and not tackling the problems that arise during construction immediately are the weaknesses of NEA management.</p>

<p>The story of transmission lines is equally sad. Several transmission line projects like Thankot-Chapagaun-Bhaktapur, Khimti-Dhalkebar Pathlaiya-Parwanipur have suffered from various factors like problems in land acquisition, protest of locals, and problems in clearing forests, among others. Delay in construction of transmission lines is affecting power generation from different projects due to there being no way to evacuate the generated power. Slow progress in construction of transmission line projects has remained one of the impediments to hydropower development in the country.</p>

<p>&ldquo;The Upper Sagarmatha Hydropower Project will be ready for commercial production within this fiscal year. But there is no transmission line to evacuate power from this project,&rdquo; lawmaker Gagan Thapa, chairman of the Parliamentary Agriculture and Water Resources Committee (AWRC), says, &ldquo;This means the NEA will have to pay Rs 1.5 billion per year as compensation to the power producing company .&rdquo; According to Thapa, there are other projects as well like those identified as Super Six which could not be started because of the lack of transmission lines. &ldquo;Last year, the government allocated Rs 13.5 billion for building transmission lines. But not even a penny from this budget could be spent. That shows how serious the NEA is regarding transmission lines,&rdquo; observes Thapa.</p>

<p>Projects being constructed in Solu, Koshi, Kabeli, Marsyangdi, Kali Gandaki, Trishuli and other corridors with private investment have been affected with the NEA failing to effectively expand transmission lines. The NEA faces risks of having to pay billions to promoters in compensation if it were to fail to construct transmission lines in time and the promoters were to complete the projects in the scheduled time.</p>

<p>Almost all NEA&rsquo;s problems are related to its structure. It was concluded long back that it&rsquo;s not appropriate to keep NEA as a single body responsible for the development, generation, procurement, transmission and distribution of electricity in the present situation, and that it is better to immediately unbundle it. The task of unbundling three functions of NEA -- generation, transmission and distribution -- was envisioned in the Hydropower Development Policy 2001. But it remained only on paper for almost 14 years.</p>

<div style="background: rgb(247, 230, 171);padding:10px">
<p><span style="font-size:16px"><strong>NEA Fails to Hold Board Meeting</strong></span><br />
Due to internal disputes, NEA&rsquo;s Board meeting hasn&rsquo;t taken place for the past four months. In the absence of the board meeting since Aug 27, the Authority is confined to only its day to day activities.&nbsp;</p>

<p>In the absence of the board meeting, the Power Purchase Agreement (PPA) and the work of transmission along the Solu Corridor and Koshi Corridor have been halted. Similarly, the disbursement of payment to the contractors of &nbsp;under-construction projects, start of new ones and continuation of the work of transmission lines, adding deadline of &nbsp;contractors, filling of internal vacancies and the &nbsp;other important work like staff promotion have all been stalled. ED of the Authority Mukeshraj Kafle says that dragging him into controversy has brought a lot of adverse impact to the organisation. Suman Sharma of the Ministry is, however, optimistic about moving ahead by resolving the problem between the Ministry and the Authority.</p>
</div>

<p>&nbsp;</p>

<p>The government did set up a National Transmission Grid Company (NTGC) in February 2015 to look after the construction of transmission lines but the move faced a stumbling block at the very beginning as the NEA which manages all transmission lines in the country decided not to send its representatives to the board of directors of NTGC. NEA is not in favour of the company and has already made this clear to the government.</p>

<p>&ldquo;We haven&rsquo;t sent our representatives to the NTGC because we think it has been formed without enough homework,&rdquo; says Mukesh Raj Kafle, Managing Director of NEA.&nbsp;</p>

<p>Secretary of the Ministry of Energy (MoE), Suman Prasad Sharma, however, claims that the Grid Company is taking shape. It is necessary to activate it after bringing it into existence, he adds. &ldquo;When it is activated, the work of managing transmission lines shall be taken over by this company,&rdquo; he said.</p>

<p>Independent producers have long been demanding the amendment of the Electricity Act, formation of a National Electricity Regulatory Commission, formulation of a National Energy Security Policy and Land Acquisition Act. But the government seems to be in no hurry. &ldquo;The parliamentary committee has directed the government many times in the past to accomplish these tasks. But the government remains undecided. It is unfortunate that the government has cold-shouldered these much needed policy reforms,&rdquo; complains Thapa. &nbsp;</p>

<p>Energy Secretary Sharma, however, says that the government has already started the process of amending the Electricity Act and that a National Electricity Regulatory Commission will also be formed to regulate the energy sector.</p>

<p>&ldquo;We cannot do everything at once. We have established the Grid Company. Now the paperwork will be carried out for establishing a Generation Company.&rdquo;</p>

<p><img alt="" src="/userfiles/images/cs4%289%29.jpg" style="margin-left:10px; margin-right:10px" /></p>

<p><span style="font-size:16px"><strong>NOC&rsquo;s Problems</strong></span><br />
The supply of petroleum products to the country has remained a critical issue for a long time. The Nepali consumers time and again have to face a fuel scarcity. Almost everyone blames the Nepal Oil Corporation (NOC), the biggest corporation of the country in terms of annual turnover, for the sorry state of petroleum supply in the country.</p>

<p>&nbsp;A number of committees and taskforces have been formed to identify and recommend significant reforms in NOC. A 2002-03 (2059 BS) committee headed by former chief justice Top Bahadur Singh; another in 2004-05 (2061 BS) headed by Shanker Sharma, another in 2010-11 (2067 BS) headed by Bhanu Prasad Acharya; yet another committee headed by Member of Parliament Bhim Acharya; and a high-level 2012-13 (2069 BS) taskforce headed by Sushil Jung Bahadur Rana were major initiatives in this regard.</p>

<p>All studies carried out on NOC so far have the same conclusion &ndash; that the corporation urgently needs reform as well as transparency in its operations and right-sizing of its staff by reducing the burden of non-professional and non-technical personnel. However, none of the recommendations has been implemented so far. The crisis in NOC is such that at times it is not able to pay its monthly import bills on time, leading to a supply cut by the Indian Oil Corporation (IOC), NOC&rsquo;s sole supplier of fuel so far.</p>

<p>The country does not have crude oil sources to meet a rapidly growing national demand for petroleum products which, therefore, have to be imported. But experts say it&rsquo;s time to end NOC&rsquo;s monopoly on the petroleum import business. &ldquo;Forty-year old IOC&rsquo;s monopoly has been broken by signing a fuel supply deal with China. Now it&rsquo;s time to welcome the private sector into the petroleum import business,&rdquo; says Prof Dr Amrit Nakarmi, former General Manager of NOC and Coordinator of Centre for Energy Studies, Institute of Eneginnering.</p>

<p>A state-owned trading company that imports, transports, stores and distributes petroleum products in the country, the NOC was established in 1970 under the Companies Act 1964 to replace the direct trading by some foreign companies in Nepal. It has been working under the same structure since. Its modus operandi has been the same: it procures and imports all petroleum products consumed in the country from the Government of India-owned IOC under a bilateral agreement, which is renewed every five years, the latest being signed in April 2012.&nbsp;</p>

<p>No doubt, the NOC needs to implement serious changes, given its current state of affairs. Most of the myriad problems associated with the supply of petroleum products can be rectified by the government through progressive measures. For instance, petroleum supply has been categorised as an essential service. Therefore, the law prohibits any interference in its supply. However, tankers, pumps and drivers&#39; associations frequently go on strikes. The presence of cartels and syndicates only makes such actions easier. Furthermore, most of these protesting organisations are registered under the NGO Registration Act, 2034, which allows neither collective bargaining nor protest programmes like strikes. Clearly, there has been a failure on the part of the government to enforce the existing law.&nbsp;</p>

<p>It has been revealed that most irregularities occur during the transportation of fuel. Adulteration, strikes and obstructions at custom points are some major problems. In order to counteract these, there are plans to construct a pipeline from Raxaul to Amlekhgunj in the first phase and later extend it to Kathmandu and other points. Discussions with NOC officials have indicated that the payback period of the pipeline project was affirmed to be less than six years after the start of operation. For this, the governments of both India and Nepal must work stringently.&nbsp;</p>

<p>However, it has been learnt that tanker drivers are underpaid (Rs 5,000 to 6,000 per month on average), far below the minimum wage fixed by the government. Despite this low pay, drivers have been working. This implies that there are undue benefits to be had in fuel transportation. Therefore, it should be ensured that the employers pay minimum wages to their employees, along with social security contributions and insurance. This will go some ways towards preventing drivers from taking advantage during transportation.</p>

<p>The NOC was established under the utilitarian approach of the past. However, times have changed and the private sector has grown substantially. Even now, transportation and dispensing of petroleum products are carried out by the private sector. Thus, the gradual privatisation of the supply of petroleum products is essential. However, before liberalising supply, there needs to be a strong regulatory body in place to control quality and pricing.&nbsp;</p>

<p>Industry insiders reveal that the NOC is not too involved in LPG trading, except for issuing purchase delivery orders and dealing finances with the IOC. While the private sector handles distribution, the heavy overhead cost, resulting in a Rs 589.14 loss for each cylinder, is borne by the NOC. It seems the private sector is more competent at LPG trading. Thus, as the first phase of privatisation, it would make sense to hand over LPG trading to the private sector.&nbsp;</p>

<p>In the second phase, import of kerosene and other petroleum products, except for aviation fuel, petrol and diesel, can be given to the private sector so that the NOC can concentrate on supply. However, after gaining enough experience, trading opportunities for the private sector have to be gradually opened.</p>

<p>In the meantime, experts say, the government should think over revamping the NOC. The NOC was established as a public limited company under the Company Act. However, the government is the sole shareholder and the board of directors consists of bureaucrats. Thus, the company is more like a government department rather than a business entity.&nbsp;</p>

<p>&ldquo;Forty percent of shares must be sold to a strategic partner/other stakeholders/public through an initial public offering. By doing so, the NOC will become a real public entity and there will be public participation in top-level management,&rdquo; suggests Nakarmi.</p>

<p><span style="font-size:16px"><strong>Renewable Energy&nbsp;</strong></span><br />
Given the volatility of the international oil market and the country&rsquo;s growing dependency on fossil fuel, it would also be wise for the government to invest in projects that generate other renewable energy, in addition to hydroelectricity. Sixty percent of current diesel consumption is used to generate captive electricity on account of load-shedding, particularly in the dry season. Hydropower would be the most feasible means of substitution. But we have been able to add only about 780MW since the Pharping project was constructed some 104 years ago.</p>

<p>Therefore, the country needs to focus also on biogas and solar power as alternatives to LPG use in the household. Prof Dr Govind Raj Pokharel, former NPC vice-chairman and former CEO of Alternative Energy Promotion Centre, opines that we should focus on producing not only hydroelectricity but also alternative energy. &ldquo;If we can meet 80 to 85 percent of our electricity demand through hydropower, the remaining 15 to 20 percent of electricity can be generated using alternative sources,&rdquo; he says.</p>

<p>Pokharel says the country&rsquo;s mountainous areas are suitable for tapping solar energy. He also advises on the introduction of subsidies on electric vehicles to taper the demand for fossil fuel.&nbsp;</p>

<p><span style="font-size:16px"><strong>For a Free Market</strong></span><br />
It is tempting to think that the current fuel-shortage is just linked to Nepal&rsquo;s constitutional politics and India&rsquo;s blockade. However, Nepal faced a similar situation when India blocked its border 26 years ago in 1989. Both then and now, there was/is a severe shortage of fuel but not of consumer items being imported from India. This is precisely because the latter did come through a competitive market. Granted, in times of shortage, prices go up, but at the very least, customers can buy genuine goods from stores without having to resort to spurious goods from a black market, or be denied the goods altogether.&nbsp;</p>

<p>&ldquo;A competitive market is able to source better, store better, serve better, and plan better than state monopolies. The country&rsquo;s oil market must be liberalised,&rdquo; says Nakarmi.</p>

<div style="background: rgb(247, 230, 171);padding:10px">
<p><span style="font-size:16px"><strong>Govt to Allow Pvt firms, Projects to Import Oil</strong></span><br />
For the first time, the government is going to allow private companies and development projects to directly import fuel, without depending on the state monopoly Nepal Oil Corporation (NOC) for the same. According to a Cabinet decision taken on December 18, industries, diplomatic missions, large development projects including hydropower projects, schools, colleges, hospitals, star hotels, media houses and Class A banks will soon be allowed to import fuel for their own consumption.&nbsp;</p>

<p>The decision will be implemented once it is published in the National Gazette and will be in effect for three months, according to a source. According to a source, the government will issue permits to import oil to those who run essential services and are big consumers of oil. For this, the companies will have to submit an application to the Department of Commerce. However, such applications should include recommendations from the supervising bodies. For example, hotel will need a recommendation from the Department of Industry, hydropower projects from the Ministry of Energy, schools and colleges from the Department of Education, banks from Nepal Rastra Bank, diplomatic missions from the Ministry of Foreign Affairs and so on. They will also have to submit a plan explaining the amount of import and its consumption.&nbsp;</p>

<p>The government will collect revenues of Rs 5,001 from each oil import permit issued. &ldquo;Once all procedures are completed, the Department will issue permits. Then those getting the permits for oil import can open LC,&rdquo; said Shambhu Prasad Koirala, Director General of the Department of Commerce and Supply Management. &ldquo;Those who will be issued the permits can import oil by paying the required customs duty. They can also use Nepali tankers to import oil,&rdquo; he added.</p>

<p>But for importing oil from the Indian Oil Corporation, NOC&rsquo;s Indian supplier, a &lsquo;no objection&rsquo; letter from NOC will be required. &ldquo;However, the permit alone would be enough for importing oil from other companies, Indian or otherwise,&rdquo; said Koirala.&nbsp;</p>

<p>The government has already allowed 22 private companies to import oil. However, only one company so far &ndash; Petromax &ndash; has been able to import fuel. The company has been importing aviation fuel from India. However, observers said as India&rsquo;s unofficial blockade against Nepal continues, importing fuel from India will be a tough task for even those who need a regular supply of oil and that&rsquo;s why the government is allowing them to directly import fuel for their consumption.</p>
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			'name' => null,
			'email' => 'samanlamsal20@gmail.com',
			'address' => null,
			'gender' => null,
			'access' => '1',
			'phone' => null,
			'access_type' => null,
			'activated' => true,
			'sortorder' => null,
			'published' => null,
			'created' => '2022-02-08 16:45:26',
			'last_login' => '2023-09-19 00:57:08',
			'ip' => '172.71.170.108'
		)
	)
)
$current_user = null
$logged_in = false
$issue_id = '957'
$issue_title = array()
include - APP/View/MagazineArticles/index.ctp, line 8
View::_evaluate() - CORE/Cake/View/View.php, line 971
View::_render() - CORE/Cake/View/View.php, line 933
View::render() - CORE/Cake/View/View.php, line 473
Controller::render() - CORE/Cake/Controller/Controller.php, line 968
Dispatcher::_invoke() - CORE/Cake/Routing/Dispatcher.php, line 200
Dispatcher::dispatch() - CORE/Cake/Routing/Dispatcher.php, line 167
[main] - APP/webroot/index.php, line 117

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