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T h i n k i n g Vol 3 Issue 30

T o m o r r o w

9 - 15 September 2013 (24 - 30 Bhadra 2070 BS)

‘The new media has impacted the journalism teaching and training’

7

Software Industries Flourishing in Nepal

9

- Martin Huckerby

12 Pages

Rs 20

Have a Heritage Sleep, Balaji Now Eyeing on Carpet

Kohinoor Software:Perfect Business Solutions

11

12

Roadmap of Economic Revolution: Vision 2080 BS

Time to Focus on Economic Revolution: Former PMs The mood should be changed from thinking of Nepal as a poor country to as a country that holds hope Former PMs’ Common Points: • Nepal is in the dire need of economic revolution now that it is a democratic republic • Energy, agriculture and tourism sectors should be prioritized • Private sector should lead the country’s development

Photo: Rukesh Shrestha/TC

• Government should play the role of catalyst

By TC Correspondent

I

t was a historic day for bleeding Nepal. On September 5, the country’s former Prime Ministers (PMs) came up with a consensus that the country should head towards economic revolution leaving political confrontations aside. During Nepal Leadership Summit which was jointly organised by Birgunj Chamber of Commerce and Industries (BiCCI) and New Business Age Group under the banner of ‘Roadmap of Economic Revolution: Vision 2080 BS’, five former PMs of past 1990 era pledged to speed up economic reform. Former PMs Sher Bahadur Deuba, Pushpa Kamal Dahal ‘Prachand’, Madhav

Nepal, Jhalanath Khanal and Dr Baburam Bhattarai signed a 12-point Birgunj Declaration and admitted that the path of prosperity is only possible through private sector-led economic growth. In the summit, chairman of UCPN Maoist and former PM Pushpa Kamal Dahal, popularly known as Prachanda, said that the time has come to be engaged in production, construction and development. “In fact, our party has come to a conclusion that political stability is not possible without economic revolution,” he informed. He stressed that promoting economic activities and adopting the approach of inclusive growth is the only option to overcome vicious circle of poverty.

KoreanCompanytoBring Light in Rasuwa By TC Correspondent

T

CORPTOON

Women power !!!

Rohan

he construction of the much awaited 216 MW Upper Trishuli-I hydroelectricity project at Rasuwa district is to start in September. The $550 million project is promoted by Nepal Water and Energy Development Company Ltd (NWEDC) and will generate 1456GWh of energy per year after its commissioning scheduled in March 2019. The construction of its access road will start within this month and the main project development is expected to begin in December. The Engineering Design and Environment Impact Assessment Report have been already approved by the government authorities and

• Expected to be one of largest hydroelectric power project in Nepal in terms of investment. • Increase existing hydroelectric generation capacity in Nepal (651 MW) by almost one third (216 MW). • It will add around 50 per cent (1533 GWh) of electricity to the current annual electricity generated in Nepal. • Project site 70 km away from Katmandu, which makes it ideal for supply to the load center. • More Korean investment in the pipeline.

drilling and drifting works, company registration, financial arrangement of equity capitalhave been made, says the company. (Continued on page 4)

Former PM and Nepali Congress senior leader Sher Bahadur Deuba said that the government should not engage in trading or operating industries. “The country had been facing the problem of financial crunch when NC formed the

• Nepal should focus on turning the optimism about the country’s future into real action • Inclusive growth must be the main goal for Nepal’s development • The mood should be changed from thinking of Nepal as a poor country to as a country that holds hope government after 1990 revolution. Situation has changed now as we have much better finacial resources. The problem is we have been unable to invest due to lack of infrastructure and energy crisis,” he said. (Continued on page 4)


T h i n k i n g Vol 3 Issue 30

T o m o r r o w

9 - 15 September 2013 (24 - 30 Bhadra 2070 BS)

‘The new media has impacted the journalism teaching and training’

7

Software Industries Flourishing in Nepal

9

- Martin Huckerby

12 Pages

Rs 20

Have a Heritage Sleep, Balaji Now Eyeing on Carpet

Kohinoor Software:Perfect Business Solutions

11

12

Roadmap of Economic Revolution: Vision 2080 BS

Time to Focus on Economic Revolution: Former PMs The mood should be changed from thinking of Nepal as a poor country to as a country that holds hope Former PMs’ Common Points: • Nepal is in the dire need of economic revolution now that it is a democratic republic • Energy, agriculture and tourism sectors should be prioritized • Private sector should lead the country’s development

Photo: Rukesh Shrestha/TC

• Government should play the role of catalyst

By TC Correspondent

I

t was a historic day for bleeding Nepal. On September 5, the country’s former Prime Ministers (PMs) came up with a consensus that the country should head towards economic revolution leaving political confrontations aside. During Nepal Leadership Summit which was jointly organised by Birgunj Chamber of Commerce and Industries (BiCCI) and New Business Age Group under the banner of ‘Roadmap of Economic Revolution: Vision 2080 BS’, five former PMs of past 1990 era pledged to speed up economic reform. Former PMs Sher Bahadur Deuba, Pushpa Kamal Dahal ‘Prachand’, Madhav

Nepal, Jhalanath Khanal and Dr Baburam Bhattarai signed a 12-point Birgunj Declaration and admitted that the path of prosperity is only possible through private sector-led economic growth. In the summit, chairman of UCPN Maoist and former PM Pushpa Kamal Dahal, popularly known as Prachanda, said that the time has come to be engaged in production, construction and development. “In fact, our party has come to a conclusion that political stability is not possible without economic revolution,” he informed. He stressed that promoting economic activities and adopting the approach of inclusive growth is the only option to overcome vicious circle of poverty.

KoreanCompanytoBring Light in Rasuwa By TC Correspondent

T

CORPTOON

Women power !!!

Rohan

he construction of the much awaited 216 MW Upper Trishuli-I hydroelectricity project at Rasuwa district is to start in September. The $550 million project is promoted by Nepal Water and Energy Development Company Ltd (NWEDC) and will generate 1456GWh of energy per year after its commissioning scheduled in March 2019. The construction of its access road will start within this month and the main project development is expected to begin in December. The Engineering Design and Environment Impact Assessment Report have been already approved by the government authorities and

• Expected to be one of largest hydroelectric power project in Nepal in terms of investment. • Increase existing hydroelectric generation capacity in Nepal (651 MW) by almost one third (216 MW). • It will add around 50 per cent (1533 GWh) of electricity to the current annual electricity generated in Nepal. • Project site 70 km away from Katmandu, which makes it ideal for supply to the load center. • More Korean investment in the pipeline.

drilling and drifting works, company registration, financial arrangement of equity capitalhave been made, says the company. (Continued on page 4)

Former PM and Nepali Congress senior leader Sher Bahadur Deuba said that the government should not engage in trading or operating industries. “The country had been facing the problem of financial crunch when NC formed the

• Nepal should focus on turning the optimism about the country’s future into real action • Inclusive growth must be the main goal for Nepal’s development • The mood should be changed from thinking of Nepal as a poor country to as a country that holds hope government after 1990 revolution. Situation has changed now as we have much better finacial resources. The problem is we have been unable to invest due to lack of infrastructure and energy crisis,” he said. (Continued on page 4)


2

9 - 15 September 2013 (24 - 30 Bhadra 2070 BS)

NEPAL LEADERSHIP SUMMIT

T h i n k i n g

T o m o r r o w

PowerSupply:Pre-conditionforEconomicDevelopment

Sher Bahadur Deuba

After the Nepali Congress government was formed following the success of the People’s Movement in 1990, the financial economic situation of the government did not allow us to increase the salary of the government employees. The democratically elected government was not able to take economic reform measures. Even in that

situation, we had managed to take some initiatives on basic sectors like drinking water and health services. Our priorities were to build high schools, health posts and drinking water facilities in each Village Developing Committee (VDC). We had privatized various factories owned by the government and still we hold the view that industries should be run by industrialists and businessmen while the government should focus on other things. The government should build the infrastructure where it is needed. Economic liberalization in the country happened after 1990. As a result, the economic growth was reached to eight percent. However, violence was launched when the economy was gradually reviving. We also had to face interventions from the then King. We have not been able to completely recover from the impact of the war. The Rana oligarchy was

overthrown in Nepal a few years after India got independence from British rule. India went ahead with a system and is now going to be a powerful democratic country. However, we have not been able to come up with a constitution as yet.

There should be an investment climate for theindustrializationofthe country. Energy is a precondition for investment and the establishment of factories. Drafting the constitution of the federal democratic republic is now urgently needed. Last year, we failed to draft the constitution and we all, including me and my party, are responsible for

this failure. We will now draft the constitution at any cost by holding the Constituent Assembly polls, and by rectifying our mistakes. There should be an investment climate for the industrialization of the country. Energy is a precondition for investment and the establishment of factories. Our factories are reeling under a power shortage. Labour unrest has become a perennial problem. How can there will be an economic growth, when there are so many hindrances? Nepal has a huge trade deficit with India. An Indian minister has even agreed to provide duty free access to India for various Nepali products. However, we could not capitalise as long we afford such trade deficit? You can bring investment here in Nepal with partnership with Indian businessmen. This would help mitigate trade deficit in Nepal. Once the elections are

held, a better environment would be forged for investment. I want to put forth a proposal to end the power crisis. You all have a captive power generator in your factories.if you pool all your resources, a big power plant could be installed. The government should give some incentives for such initiatives. We have immense possibilities of harnessing hydroelectricity and we can talk with India to bring in investment for hydro-electricity projects. Unlike a political revolution, an economic revolution takes time. There should be a clear investment policy in the country. Nepal could be a rich country within 5-10 years by selling electricity to neighbouring countries if we bring big investment here. Similarly, we have many sectors like tourism, agriculture, and herbal products through which we can develop the country.

of the nation. We want to focus on economic development at this point. Agriculture should be the foremost basis of economic development of our country. Along with the increase of agro products, we should emphasize on industrialization based on agriculture. Commercialisation of agriculture and industrialization based on agriculture should be our top priority. Similarly, we should make hydropower and tourism the leading sectors for economic development. The vision of a doubledigit economic growth rate and revolutionary economic development for 10 years is possible. After our party officially declared in the Hetauda general convention that we should all

employ our strengths for the development of infrastructure, production and economy, I fortunately got the opportunity to visit our neighbouring countries China and India. While talking with the Chinese and Indian governments, they repeatedly told me that they were ready for the support needed for Nepal’s economic development after the elections are held and political stability is restored. This is the reality of Nepal. This is the requirement of the nation. We need an economic revolution. However, the need for political stability is also equally important. We are heading towards the election for which we are forging a suitable environment. We should take the election as a solid basis for the economic revolution of the country.

of which if we invest NRs 200bn, we can still arrange another 200300 billion form other internal sources. we should be able to bring in another 200 billion from foreign investment. Therefore, it is important to mobilize the national capital as well as foreign investment in order to reach the economic growth of double digit. And if we follow this economic strategy and invest in basic economic infrastructure like electricity, road, airports and social infrastructure like education and health, not only will we witness growth in GDP but also growth in per capita income from USD750 to USD3000. In order to achieve this growth, there also has to be a political commitment, consensus and most importantly, a stable government for five years to govern the country - whether it is the nepali Congress, the UML or the

unified CPN Maoist or any other party. As far as the UCPN (M) is concerned, it is totally committed towards inclusive development to reduce economic and social disparities. Secondly, we have to maintain a stable policy with the two rapidly developing neighbouring countries India and China. We have to turn into an investment pool for these countries in order to stimulate our development. Lastly, we have to eradicate political and institutional corruption and until we eradicate this, there will always be hindrances in development and investment. In order to mitigate this problem, we have to be transparent. Forceful donation has to stop and the system should be able to bring some budget to the political parties which will give rise to a transparent political party system.

‘Timeforeconomicrevolution’

Pushpa Kamal Dahal ‘Prachanda’

Until the political goals are not achieved, economic activities will remain eclipsed during the process. We had to spend many years for the political transformation, which was required. But now, it is high time that we move towards economic revolution.

We made some attempts to drive the country towards an economic revolution when we led the first government of the democratic republic of Nepal. Despite our ambitious plans for economic growth in the country, we did not get the opportunity because unfortunately, we had to quit the government in nine months. The general convention of our party was held recently in Hetauda from where we made an official declaration that we should now adopt the economic agenda of production, distribution and development. We believe that only the party which employs its entire strength for economic development can lead the country to prosprity. Nineteen years ago in a convention, we had said that the political revolution has not been

completed yet and that it needed the abolishment of feudalism and the feudal system. In order to propel the country towards economic revolution, we are now in a historically distinct

In order to propel the country towards economic revolution, we are now in a historically distinct situation to institutionalize the political transformation. situation to institutionalize the political transformation. Despite many ups and downs, now political consensus among major parties is being forged for the economic development

‘Foreign investment required’

Dr Baburam Bhattarai

We have spent a long time focusing on the political revolution and now we need to shift the focus to the economic side. But all we have to understand the interrelation between political and economical revolution. In order to have economic development, we have to trace out our shortcomings

- what are our strengths and what are the hindrances to economic development? One of our major problems is absolute poverty and absolute backwardness, which is the basic weakness in our economic development, and which has led the country to a sluggish pace of development of not more the 2 per cent average growth in 50 years. There has not been much change in the real income level of the people, and this small economic growth is wiped away by the constant population growth. Therefore, we need a vision to see where we will be in the upcoming 10 years. For that, we have to bring in foreign investment and utilize our domestic resources to stimulate economic development During our government, we had focused on taking growth to

a double digit rate. For ten per cent growth rate 40 per cent of the GDP has to be invested. As the GDP being NRs 1700billion we have to invest 700bilion per year. One of the basic sources for

One of our major problems is absolute poverty and backwardness, which is the basic weakness in our economic development it is internal tax revenue - which approximately generates NRs. 300bn out of which NRs. 150bn can be invested fordevelopment - the other source is remittance which is approximately NRs 600bn out


9 - 15 September 2013 (24 - 30 Bhadra 2070 BS)

T h i n k i n g

NEPAL LEADERSHIP SUMMIT

T o m o r r o w

3

‘Agriculture, Regional Market and Infrastructure Development for Economic Prosperity’

Jhala Nath Khanal

Nepal holds numerous potentials for achieving economic prosperity as the country is bestowed with valuable natural resources. Nepal needs to develop various sectors by setting priorities on them. Nepal must promote tourism based economy and we should not neglect the fact that Nepal is suitable for offseason and all season agriculture.

The country has passed through major political changes from 1950s to 1990s. However, these changes couldn’t lay foundation for economic transformation. Therefore, these political changes could not be institutionalised. In 2006 it was a historic change but unfortunately, that too has not been institutionalised yet. The political stability has an important role in establishing democracy, rule of law and optimum utilisation of resources. There are no doubts about the successful completion of upcoming elections on time. Election is a milestone for creating a base for economic development. Every political party must have commitment for polls. And, the upcoming Constituent Assembly election is also a basis for state restructuring. Nepal has to be transformed into a developing country

from the present status of least developed country. If all the concerned stakeholders express determination towards this goal, Nepal can be upgraded into a developing country within a decade. The country had to experience major ups and downs

The agriculture sector can be modernised by establishing research centres and increasing investment among other similar programmes. during the last 15 years. During that time, a huge investment made an exit from Nepal and many industries were closed. Similarly, many industries were announced sick during that period. At present, around 400,000

‘Green Economy for EconomicDevelopment’

Madhav Kumar Nepal

To meet the targets of proposed Economic Revolution Roadmap: Vision 2080, all the concerned parties must be committed. These objectives must be incorporated as economic agenda by all. When everyone is determined for political, economic and social progress, economic revolution is not an unattainable pursuit. But, sustainable economic development is possible only with political stability and rule of law. To establish political stability and rule of law, Constituent Assembly election slated for November 19 must be conducted peacefully. Then the economic development can gain momentum. Our economy is dependent on imports. To lower the high trade deficit, export oriented policies and programmes must be made. Likewise, investment in export oriented industries must be encouraged. For this, internal resources and external opportunities must be well coordinated and productive sectors must be developed. Similarly, employment must be generated through stable and long term investments. For this to happen, government, industrialists and workers must rise above their vested interests and serve the national interest. A favourable environment for running industries and making investments must be created. If these can be ensured, the campaign

to achieve economic development and lifting country from the status of least developed to developing country is not overambitious. There must be committed focus on policy stability, power development, investment in employment oriented productive sector and expansion of the service sector. If we want to build new Nepal and make sure all people are prosperous, we must prioritise certain things first. They could be restructuring the society, overhauling the administrative structure, eradicating social discriminations and anomalies and prioritising the development of skilled human resources. Similarly, the physical infrastructure and power development must be prioritised as the water resource is being wasted.

Investment must be concentrated on infrastructure development. These targets are not unachievable but the only need is of the national commitment and positive thinking. Investment must be concentrated on infrastructure development. Whether it is international airport at Nijgadh or fast track road, they are the basis for economic revolution. Development of agriculture, service sector and tourism industry can make Nepal leap towards economic prosperity within a decade. Similarly, green economy must be prioritised. Criminalisation of politics and politicisation of crime must come to an end. End of corruption and good governance must be ensured. The Birgunj-Pathlaiya industrial corridor development with minimum standards must be declared soon. The concept of Greater Birgunj must be implemented and Birgunj should be announced as the financial capital. Sincere implementation of these initiatives can put Nepal in the path to economic revolution.

people enter into the labour market each year. To provide jobs for them, the agriculture must be mechanised, modernised and co-operatised. Economic development cannot happen without development of agriculture. The agriculture sector can be modernised by establishing research centres and increasing investment in addition to other similar programmes. If the agro productivity can be increased, Nepal can achieve economic prosperity within a short time. Nepal is a country with more than 30 million population. If China in the north and South Asia are considered, the population accounts to almost half of the global population. thus there is a huge market for us next door. We do not have to look at Europe, USA or Australia in search of market. If we can tap this market by enhancing our

capacity to produce products with competitive advantage in these markets, we can progress towards prosperity within a short time. Nestled between India and China, Nepal must devise its economic strategies, policies and programmes to explore the benefits of this unique geographical position. Similarly, we must revise our economic diplomacy. Development of physical infrastructure is another integral part of achieving economic development. Physical infrastructures such as mid-hill highway, international airport at Nijgadh and north-south highways to connect China and India must be given prime importance. Similarly, social infrastructures such as hospitals and universities too must be taken into high consideration. With these infrastructures, we can push the country towards development and prosperity.


4

9 - 15 September 2013 (24 - 30 Bhadra 2070 BS)

NEPAL LEADERSHIP SUMMIT

T h i n k i n g

Nepal Leadership summit 2013 Roadmap of Economic Revolution: Vision 2080 BS

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T o m o r r o w

www.abhiyan.com.np

Aarthik Abhiyan Daily

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Birgunj Declaration September 5, 2013

MEDICLAIMINSURANCE

BRIEF Nepal Leadership Summit at a Glance Participants Former PMs n n n n n

Sher Bahadur Deuba Pushpa Kamal Dahal ‘Prachanda’ Madhav Kumar Nepal Jhala Nath Khanal Dr Baburam Bhattarai

Organizer

Birgunj Chamber of Commerce and Industries

Management

New Business Age Group

Outcome

Former PMs singed a 12-point agreement vowing to let private sector lead the country’s economic front

Why Birgunj?

Because Birgunj is one of the major trade hubs of the country and BirgunjPathlaiya corridor has been suffered from political volatile situation. So, it would be better to seek commitment from PMs at the same place.

Major Issues Raised n n n n n n

Political Instability Need of economic revolution Promotion of tourism Commitment for hydropower Agriculture focused development Inclusive growth

Feedback

It is indeed a good initiative that politicians signed a 12-point declaration. But signing is just a beginning. We should regularly put pressure on politicians to stick to their commitment in days ahead. The agreement should be translated into action. We want sincere commitment from former PMs and their respective political parties. - Ashok Baidya President, BiCCI The programme is a very successful event since it was successful to bring politicians from different ideologies into a single platform. Also, it help reenergize discourse of making Birgunj a major industrial hub of the country. - Rabindra Kr Baranwal Secretary, BiCCI The event will have a very positive impact on country’s economy. Commitment from top guns of major political parties for the economic development of the country will help boost morale of business community. - Prabesh Pandey, Banker

National Insurance Company Ltd We also insure cattle, livestock & crop.

Country Office: Tripureshwor, KKM building, P.O.Box: 376, Kathmandu, Nepal Tel: +977 1 4260366, 4250710, 4266681, 4254045 Fax: +977 1 4261289, 4266682 Website : www.nicnepal.com

Whereas Nepal has now entered the phase of Democratic Republic as a result of several political agitations and there has been a national consensus that the main agenda of the country should be economic revolution, we former prime ministers of Nepal assembled in this “Nepal Leadership Summit” organized by Birgunj Chamber of Commerce and Industries (BiCCI) with help from Aarthik Abhiyan Daily, pledge our commitment to following common points: 1.

We commit to give priority to the national economic agenda above our respective party agenda for the protection of overall national interests while making any individual and party level decision.

2.

We commit to discuss national economic agenda within our respective parties in a democratic manner and through that forge a consensus of all parties in the development of a common economic agenda of the country.

3.

We are committed to bring to an end the existing uneasy industrial relations and to maintain a peaceful industrial situation for industrial development of the country.

4.

We are committed to bring out new labour policy and industrial policy conducive for overall national interests and industrial development.

5.

We are committed to make Nepal free from the problem of power outage by removing the obstacles faced in the generation and supply of electricity.

6.

We are committed to secure individual property rights of the people.

7.

We are committed to create an environment conducive for attracting investment by discouraging all the activities that may disturb the investment climate.

8.

We are committed to uplift Nepal from the current status of a Least Developed Country within the coming 10 years by removing the prevalent poverty and inequality and by achieving high economic growth rate.

9.

We are committed to internalize that the private sector has to play the leading role in the economic development.

10. We are committed to get Birgunj-Pathlaiya corridor officially declared an industrial corridor that fulfils a set of specified standards. 11. We are committed to get Birgunj recognised as the economic capital of the country. 12. We are committed to transform Birgunj town into Greater Birgunj.

Continuedfrompage1

Time for... He stressed for a common commitment to end the existing energy crisis. “The country will head in the direction of economic prosperity if we will be able to address the problem of infrastructure, industrial security and energy,” he added. Nepal should attract Indian investment and should promote export to reduce trade deficit, he opined. He said, that the government should reduce all bureaucratic hassles and should vow to provide tax rebate to companies which create employment opportunities to more than 100 persons. The country’s economy remains in a state of confusion, with expanding budget, energy crisis, trade deficit, inflation, unemployment problem and lack of resources, said former Prime Minister and CPN UML leader Madhav Kumar Nepal. He blamed the revenue-centered government, short-term profit oriented private sector and belligerent labour for the slow economic growth. “We need to improve our educational system and ensure that we have the skills to pursue the opportunities,” he said. He suggested that clarity in policy, investment friendly environment and investment in service and production sector will ensure country’s development. Chairman of CPN-UML and former PM Jhala Nath Khanal emphasized the need of policy stability for the economic growth. Modernisation of agriculture sector will have positive impact for the development, he said, adding that the banking sector should increase investment in the agricultural sector. Absolute poverty and backwardness are main problems of the country at present, UCPN Maoist leader and former PM Dr Baburam Bhattarai said. The country can achieve the target of 10 per cent growth by increasing investment in productive sector, he opined. “Key factors that affected all sectors of the economy are poor governance and corruption in the country. One of most

important negative factor is decline in investment to GDP ratio, which is one the of the root cause of the slowdown in GDP growth,” Dr Bhattarai said. “At least 40 per cent amount of GDP should be invested every year in productive sector to achieve the double digit growth. This means, the government should ensure that at least Rs 700 billion is invested. As internal resources will not be sufficient to arrange this fund, we should invite foreign investment,” he added. Dr Bhattarai call for a need to build capacity at all levels to meet the target. “We need to make the building of robust private sectors an urgent priority and promote true entrepreneurship because that is how jobs are created,” he added. He said that Nepal must focus on developing its skills and human resources, especially by harnessing the talents of Nepali people from around the world. He also suggested all political parties to keep balance between China and India for maximum benefit from the neighbouring economic giants. President of Birgunj Chamber of Commerce and Industries Ashok Baidya, said that political commitment is a must to create an environment of wealth creation through investment, alleviate poverty, increase the annual GDP growth rate, contain inflation, promote entrepreneurship and generate employment. In the programme, editor-in-chief and chairman of New Business Age Group Madan Lamsal asked politicians to address economic concerns and map out a strategy with business community and international support to address country’s economic problems.

Korean Company... Similarly, tree cutting approval has been received and land acquisition has already been done, it adds. “The project, once completed, will help in reducing daily load shedding by three to four hours,” said CEO of NWEDC Kim Kyung Sik. NWEDC is predominantly a South Korean group of three companies with 75 per cent of the total equity share,

which includes Korea South East Power Company Ltd (KOSEP), Daelim Industrial Company Ltd, and Kyeryong Construction Industrial Company Ltd. The International Finance Corporation (IFC) has joined as a codeveloper for the project while Daelim and Kyerong will be the Engineering, Procurement and Construction (EPC) contractor. The operation and maintenance will be done by KOSEP. Sik said, “This is a reason for hope and optimism in the midst of serious crisis that has debilitating effect on Nepal economy. The project once completed, will help reduce daily load shedding by 3 to 4 hours. We are maintaining a good relation with the local people and with the administration. They are very much interested in the project and we are thankful for their support and cooperation.” The successful completion of the project means technology transfer of operation and management, employment creation of 300 to 500 people for construction, substituting annually diesel imports equivalent to 20 million US dollar and helping grow Nepali economy, he added. The Upper Trishuli-I project will be one of largest hydroelectric power project in Nepal in terms of investment. It will increase existing hydro-electric generation capacity in Nepal by almost one third (216 MW), and will add around 50 per cent (1455 GWh) to the annual electricity generated in Nepal. “It will help meet the huge unfulfilled demand of electricity in Nepal. We have a strong and committed list of sponsors for the project, which bring together a mix of local understanding and technical competence of setting up similar projects in other parts of the world,” Sik said. “The project will help in attracting International investors in Nepal’s hydropower development, including South Korean Investors. It will also help to further strengthen the cordial relationship between Nepal and South Korea. We look for forward Nepal Electricity Authority’s support in future,” he added.


9 - 15 September 2013 (24 - 30 Bhadra 2070 BS)

T h i n k i n g

NEPAL LEADERSHIP SUMMIT

T o m o r r o w

5

Glimpses of Nepal Leadership Summit

Former Prime Ministers Sher Bahadur Deuba (right) and Jhalnath Khanal exchanging their views

Former PM Madhav Kumar Nepal signing the Birgunj Declaration

Prachanda (right) shakes hands with Madhav Kumar Nepal

BiCCI family during the event

Guests present at the Nepal Leadership Summit

Photos: Rukesh Shrestha/TC

Editor-in-Chief & chairman of NBA Madan Lamsal addressing the dignitaries

BiCCI president Ashok Baidya

Maoist leader Dinanath Sharma (second from the right)


9 - 15 September 2013 (24 - 30 Bhadra 2070 BS)

T h i n k i n g

NEPAL LEADERSHIP SUMMIT

T o m o r r o w

5

Glimpses of Nepal Leadership Summit

Former Prime Ministers Sher Bahadur Deuba (right) and Jhalnath Khanal exchanging their views

Former PM Madhav Kumar Nepal signing the Birgunj Declaration

Prachanda (right) shakes hands with Madhav Kumar Nepal

BiCCI family during the event

Guests present at the Nepal Leadership Summit

Photos: Rukesh Shrestha/TC

Editor-in-Chief & chairman of NBA Madan Lamsal addressing the dignitaries

BiCCI president Ashok Baidya

Maoist leader Dinanath Sharma (second from the right)


6

9 - 15 September 2013 (24 - 30 Bhadra 2070 BS)

EDITS & OPINIONS

EDITORIAL

T h i n k i n g

There is no Investment Friendly Environment

Nepal Leadership Summit

I

t is not easy to envisage country’s bright economic future after 10 years of instability. In fact, country’s existing economic indicators are not very much positive though it has tremendous potential to take the path of progress and prosperity. Industrial growth has been hanging near zero percent, the investment rate has declined, inflation is high, industrial growth is badly affected due to the energy crisis, causing companies to struggle on how to run businesses without a reliable source of electricity. In the aforementioned situation, collective effort is a must to achieve the double digit growth. New Business Age group and Birgunj Chamber of Commerce and Industries (BiCCI) tried to find out a common solution for the existing economic slowdown. The NBA group and BiCCI jointly organized Nepal Leadership Summit: Roadmap of Economic Revolution: Vision 2080 BS in Nepal’s renowned industrial city Birgunj last week. Nepal’s five former Prime Minister since 1990 expressed their views on Nepal’s economic development. They also signed a 12-point Birgunj declaration showing their commitment to the economic revolution in Nepal giving private sector a leading role. The summit was historic in many respects. First, the summit was successful to bring together Nepal’s five former Prime Ministers who represent various political parties in a platform to discuss important economic issues. Second, it sought former PMs visions and agendas to address country’s existing adverse economic issues ranging from labour unrest to power deficit. Third, the summit also tried to figure out differences among politicians and make them convinced for the economic prosperity of the country. Last but not the least, politicians signed a 12-point pact showing their commitment to the long term economic development of the country which will be remembered as the Birgunj Declaration. It is a fact that commitment is not enough. Leaders should be ready to translate their commitment into action. There is still a long struggle ahead when it comes to engaging the government to revive the Nepali economy. The country has yet to address economic concerns and map out a strategy with business community and international support to address country’s economic problems. In a positive sign to the country’s economic prosperity, all leaders pledged not to politicize economic agenda. They also stressed that Nepal is in a dire need of economic revolution after various political changes. Regardless of their political ideology, all leaders agreed to let private sector lead the country’s development and acknowledged the government’s role as catalyst. Nepal should focus on turning the optimism about the country’s future into real action. The mood should be changed from thinking of Nepal as a poor country to as a country that holds hope. It is a difficult task to implement the 12-point Birgunj Declaration but not impossible. One thing is for sure: ‘United we stand: divided we fall’. The need of the hour is sincere commitment from all political parties to drive the country into prosperity.

CORPORATE HUMOUR

Punctual CEO! This Nepali airlines is known for its punctuality. The CEO is very particular about the timing especially that of the pilots. For last one decade, Captain Dhiraj had arrived at work at 9 A.M. on the dot. He had never missed a day and was never late. Consequently, when on one particular day 9 A.M. passed without Dhiraj’s arrival, it caused a sensation. All work ceased, and the CEO himself, looking at his watch and muttering, came out into the corridor. Finally, precisely at ten, Dhiraj showed up, clothes dusty and torn, his face scratched and bruised, his glasses bent. He limped painfully to the time clock, punched in, and said, aware that all eyes were upon him, “I tripped and rolled down and nearly killed myself as I slipped on the slippery road of Baneshwor because of rain last night.” And the CEO said, “And to roll down just two kilometers of road it took you a whole hour?” Now go to the plane as you are and fly to Biratnager as passengers are waiting. As soon as you fly back to Kathmandu go to office and submit your resignation. -ML

T o m o r r o w

This country is functioning for the past six years without any long term plans. By Madan Lamsal

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ignitaries present in this Nepal Leadership summit are much concerned over economic future of the country. But the vibes of this positive thinking has not been circulated to the common people. This platform intends to reach to those people with a hope to develop a common economic commitment. It has already been late to discuss about country’s economy because its growth barely hovering over 3 to 4.5 per cent in last three years. Entrepreneurs and businessmen along with the capital and human resource are moving abroad in large numbers. There is no investment friendly environment in our country. There is a public blame over the government’s indifferent attitude towards the economic agenda. It is now important for a common and practical mindset regarding the economy.

Challenges of Nepali Economy

Productivity of the economy is declining and new investment is almost zero. Alarmingly, annual trade embalance is

Rs 479 billion and inflation is approximately 10 percent. Nearly, 500 thousand youths are going abroad for employment and the number of those going for education and other purposes is critically high. Nepali currency depreciated by 22 per cent in last six months. Hydel projects are the victim of indecisiveness and are politicised. This country is functioning for the past six years without any long term plans. The air of uncertainty and the fear have not receded.

People’s expectations from Leaders

People are tired of opinions and blame game. Now they want a clear and common commitment to solve the existing problems and its immediate implementation. There should not be any disagreement over the common problems.

Right Time

This is the right time for a common commitment because political parties are gearing high in preparing their manifesto. There is an expectation to make the country federal. It may take time, there might be differences but constitution would be drafted and there would be political outlet. However, the days without economic progress are the

days squandered. Result is what we are desperately seeking now.

The Clock is Ticking

We should quickly act on it because the state can’t remain without long term plans for infinite period. It has been imperative to develop a national concept about the local currency peg with the Indian currency. Remittance income has not been able to utilised in productive sector. Thus, there is no alternative to make Nepal’s economy as a part of world market system. It has been imperative to provide relief to the people and industrial sector by ending energy crisis. Economic literacy is must for the political parties. And it is necessary to spread the message of industrial sector’s progress.

The way Ahead

The way ahead is co-operation. An initiative has been taken in this summit and it has to be strengthened. We are making a common commitment for coming decade. And this is not a formality but a necessity. Let’s adopt and implement it. (Views expressed by Lamsal in the Nepal Leadership Summit)

PoliticalCommitmentNecessaryforDevelopment The major reason behind economic problems is political instability and inconsistent policies. By Ashok Baidya

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e have made an effort to bring the former prime ministers in the same platform for a meaningful dialogue and discourse on country’s overall economic development. This is probably a first of its type in the history of Nepal. I am really delighted to welcome the former prime ministers, who are at the helm of the country, in Birgung- a city known as the main entrance as well as the economic capital of the country. We are not going to hold a political debate by bringing top leaders of the political parties in this economic and industrial hub. Rather, we are seeking a political commitment for the nation’s economic development. Water, as a form of white gold, is flowing from our rivers. Provided that we utilize this water, we can easily get rid of the chronic power deficit. This will also ensure high economic growth, trade balance and earning of foreign currencies. However, instead of considering the hydropower as a matter of business, it’s a bitter reality that hydropower projects are facing political hindrances. On the other hand, Nepal is projected as a best destination for tourism by United Nations including other international organizations. However, the number of

VISUAL EDIT

tourists in our markets has not exceeded one million per annum yet. The major reason behind all these economic problems is political instability and inconsistent policies. It is obvious that there exist of many political parties with diverse orientations in a country with multiparty democratic system. But complete and frequent changes in the whole policy resulting from the government changes is

If production is to be increased and investment is to be lured, a high level consensus is imperative on the fundamental issues of the economy. rarely see in any other country. The investors shy away from investing in the countries with instable politics and economy. Apart from these problems, our country is reeling under the power deficit and labour unrest, among other economic ordeals. Despite a high minimum wage compared to other South Asian countries, Nepal is yet to observe the normalcy in the labour sector. Thus, if productions are to be increased and investment is to be lured, a high level consensus is imperative on

the fundamental issues of the economy. I would like to request to all former prime ministers from this forum for a common agreement on the fundamental agenda of the economy. Birgunj is a strong pillar of our economy. 70 per cent of country’s total industrial investments are in BirgunjPathlaiya corridor. But the government has inflicted injustice to the BirgunjPathlaiya region by not declaring this region as an industrial corridor. Along with a demand to declare this region as industrial corridor, we demand with the government that Birgunj be declared as economic capital. We have also brought a concept of a greater Birgunj to develop this city as the country’s economic capital. The concept brought for the overall development of Birgunj aims to increase the economic and industrial activities at a high rate and build infrastructures to the par of complete metropolitan by 2080. I would like to request former prime ministers to realize the importance of this comprehensive plan and act towards materializing it. This program would not been a success without the participation of prime ministers. I would like to thank you from my inner heart for your presence. (Views expressed by Baidya during Nepal Leadership Summit.)


9 - 15 September 2013 (24 - 30 Bhadra 2070 BS)

T h i n k i n g

LEARNING CURVE

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NEWS IN BRIEF TU, IoM Published Results of Entrance Examination 2070 Bachelor Level Entrance Examination Committee 2070, Examination Control Division of the Tribhuvan University and Institute of Medicine (IoM) Dean’s Office publishes the results of following programmes (B.Pharma, B.Sc. MLT, B.Sc. MIT, B.Optom, BASLP, B.Sc. Nursing, BAMS and BDS) for the academic year 2070/2071 (2013 AD) conducted on 16 Bhadra 2070 (1 Sep 2013). MBBS Entrance 2070 results have been also published.

BTC will Provide 10 per cent Scholarship to Students The British College (BTC) has decided to provide 10 percent scholarship to students. The college took the decision during the discussion held among the college advisory committee. According to Rajan Kandel, Chief Executive Officer (CEO) of the college, the decision will certainly help in maintaining the relation between Britain and Nepal. “The discussion was focused on the future strategies and British visa as well,” he says. The college informed that students from six different countries are currently studying in the college. The advisory committee of the college includes Lord Sandwich, an elected hereditary peer in the UK House of Lords (upper house), Dr Chiran Thapa, Dr Arjun Karki, among others.

MoE Prepared New Provision for SLC Appearing Students Ministry of Education (MoE) has drafted a new provision for School Leaving Certificate (SLC) appearing students from this year onwards. According to the MoE, SLC appearing students will have to make illiterate people literate taking literacy classes has been taken by to accomplish the goal targeted under the literary campaign. As per the new provision, each student should make three illiterate persons literate to obtain ten marks. The total number of illiterate persons comes from an age group of 15-60.

NCC Celebrated Golden Jubilee Nepal Commerce Campus celebrated golden Jubilee on September 3 at the college premise. Chairman of the interim election government, Khil Raj Regmi and Education Minister Madhav Prasad Poudel were present in the programme. On the occasion, Regmi said that the government is planning to increase budget in higher education sector in coming days.

Interaction Programme @ Tourism & Hotel Management College Nepal Tourism and Hotel Management College at Pokhara organized an interaction programme on ‘Role of Management Education’ on September 4. Speaking at the programme Prof Ujjwal K Chowdhury, former Dean of the Symbiosis International University of India and Senior Consultant of The New Business Age Pvt Ltd said that the education system should not only be based on theoretical knowledge but it should follow investigative system. He said, “Management Colleges should focus on job viability rather than on the quantity of the students.” Ambassador of Sri Lanka to Nepal WM Senevirathna talked about the feasibility of tourism and hotel business in Nepal. According to the Ashok Palikhele, chairperson of the management committee of the college, such interaction programmes helps in sharing knowledge.

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‘The new media has impacted the journalism teaching and training’ Martin Huckerby is a well known British Journalist with wide experience as a reporter and news editor on top UK newspapers. In these fifteen years, of career he has worked as an editorial consultant, advising news organizations and training journalists around the globe. He was editor of The Prague Post, the English-language paper of the Czech Republic (1992-96), foreign news editor of The Observer, London (1989-92) and reporter and news editor at The Times, London (1972-86). Currently, he is in Nepal to provide investigative journalism training. He shares his experiences as a trainer with Siromani Dhungana and Sanjeev Sharma of The Corporate. Excerpt:

HEAD-TALK

away quickly. In western countries, traditional media are still making profit. However, it is a fact that new media has made them less profitable. The financial crisis and the rise of digital media have slowed the pace of advertising into the traditional media. Thus, we can say that the media particularly in the west, is facing a situation of double whammy. The digital revolution has brought a massive change which the traditional media are adapting to gradually. The new media has also impacted the journalism teaching and training. There are a whole lot of materials to study in the web. One can get training from anywhere from any part of the world. However, I think the level of interaction between trainer and the trainee during the online training is somewhat limited.

I think while writing news, journalists should try to explore ways to make the issues more attractive and interesting. Every journalist should be aware of the need of readers or viewers.

How do you assess the current scenario of business journalism throughout the world?

What to you exactly do at Thompson foundation?

I am simply a consultant, an outsider in Thompson Foundation. I am an independent media consultant/trainer and a journalist. I have been working closely with Thomson Foundation since last couple of years.

You are a renowned journalism trainer at present? What excites you about the training?

If people benefit from the training it is always a pleasure for me. It is actually a sense of putting the opportunities I’ve had or things I’ve learned to passed on to other people who want to use them. The other nice thing about being a journalism trainer is the opportunity to go to other countries and meet different people, which is very interesting part of my job.

What are the most important things you want to pass on to the participants of the trainings?

It varies from countries to countries. It is important to tell whatever you are doing in the particular environment and in a particular political situation. For instance, I had been in Nepal and South Africa as a trainer last year to train journalists. I found that the environment was totally different in South Africa compared to Nepal. Choice of topics, issues and approaches in trainings varies from place to place.

What are the basic skills you want to pass on to the journalists in general?

There are many skills that you can use as a journalist. I wouldn’t say that there are specific skills to pass on. I think we are in a business of opening people’s eyes and making them realize that there are different ways of approaching their jobs according to the norms on their organization or countries. We basically try to train journalists about the different ways of approaching issues and topics. I divide news into two broad categories- news that is important to people and news that they are interested in. I think while writing news, journalists should try to explore ways to make the issues more attractive and interesting. Every journalist should be aware of the need of readers or viewers. Talking about Nepali media sector, in 20 years there has been pretty amazing and tremendous progress. With relatively low level of trainings, Nepali journalists made their way pretty amazingly.

There is a rapid change in media technology these days. What changes have new technology brought to the media landscape?

I think the change and impact brought by technology is very vast. Use of technology has made a constant change in all types of media. Most are faced with the future which is incredibly unclear. I remember a conversation with one of the top digital news official in the BBC a few years ago. During the conversation, he told me that now we should try fast and kill fast. He was

referring to their work style, and the fact that the news ideas are coming very quickly from various sources through different media. And if they don’t find those news to be useful they would be ‘killed’ or thrown

I can’t make many intelligent comments about the particular topic as I am not an expert in business journalism. However, I do compare business and financial publications of different countries. I would say that business journalism varies considerably in different countries and different aspects should be considered while writing business news. I mean to say that the impact of different business, financial and economic events in everyday life of people should be highlighted in the first hand.


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9 - 15 September 2013 (24 - 30 Bhadra 2070 BS)

MONEY MATTERS

T h i n k i n g

NEWS IN BRIEF

Weekly Gold and Silver Price

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US Dollar Exchange Rate at Local Market

Everest Bank’s Mobile ATM Facility Everest Bank Limited began a mobile ATM facility. As per this facility, customers do not need to go to branch to get the banking services of the Everest Bank. The customers can get the payment from the designated bank representative. The Bank said that they have their designated representatives across the country. According to the press release of the bank, customers can also open their bank account from the designated representative. Everest Bank has introduced the concept of branchless banking service for the first time in Nepal.

Siddhartha Dev Bank’s ‘Home Loan Scheme’

Siddhartha Development Bank brought a ‘SDBL Home Loan’ scheme. The Bank said it has brought the scheme to fulfill the dream of every citizen to have their own home. The Bank informed that it will extend the maximum loan up to Rs 10 million to purchase home and apartment as well as to build the home.

Kailash Proposes 19 per cent Dividend

Kailash Development Bank Ltd said it will distribute 19 per cent dividend from the profit earned in the Fiscal Year 2012-13. The meeting of the Board of Directors (BOD) held last Wednesday decided to recommend distribution of 10 per cent bonus share and 9 per cent cash dividend. The Bank has collected Rs 6.26 billion deposit and extended a total of Rs 5.5 billion as loans in the Fiscal Year 2012-13. It informed that it has earned Rs 152.6 million net profit in the review period.

Discount on Infrastructure’s Locker Infrastructure Development Bank Ltd said it will provide the free locker facility for a year to the customer opening bank account on ‘Naari Samriddi Khaata’. The Bank said it is providing this facility on the auspicious occasion of Hindu women’s festival Teej. The Bank, which merged with Swastik Merchant Finance Co Ltd last year, is providing banking services to its customers through 18 branches.

Laxmi Bank’s branch at Kohalpur

Laxmi Bank Ltd opened its branch at Kohalpur in Nepalgunj. The branch started its operation from last Monday. The number of the Bank’s branches has reached 33 with this newly opened branch. The Branch’s Manager Rima Malla informed that the branch will offer ATM, internet banking, mobile and other services.

Bhrikuti Development Enters 10th Year Bhrikuti Development Bank Ltd headquartered in Butwal entered 10th year last Tuesday. The Bank had started its operation on September 3, 2004. The Bank’s paid up capital that started with Rs 10.5 million has now reached Rs 353.1. The Bank has expanded its services to 10 districts. The Bank said that the deposit amount of the bank has reached a total of Rs 4.30 billion and extended a total of Rs 3.21 billion as loans until the end of the Fiscal Year 2012-13. The bank has earned Rs 110 million profit.

Om Finance to Distribute 21 pc Dividend Om Finance Ltd headquartered at Pokhara said it is planning to distribute 20 per cent bonus share and 1 per cent cash dividend. The Finance’s Annual General Meeting will decide to distribute a total of 21 per cent dividend after getting the approval from the Nepal Rastra Bank, according to the press statement released by the General Manager of Om Finance last Monday. Malla informed that the paid up capital of the Finance will be of worth Rs 325.7 million after distributing the dividend.

Source: Nepal Gold and Silver Dealers’ Association

TopTen Gainers Rank 1 2 3 4 5 6 7 8 9 10

Source: Nepal Rastra Bank

Top Ten Losers

Company Oriental Hotel Life Insurance Co Muktinath Bikas Bank Gandaki Bikas Bank Premier Insurance Co Himalayan Gen.Insu Excel Development Bank Karnali Development Bank Nepal Credit & Com Bank Citizen Investment Trust

Op. 140 1350 335 116 181 333 291 88 280 1420

Hi. 162 1514 365 126 218 417 318 96 295 1500

Lo. 140 1316 329 114 169 309 286 83 275 1400

Cl. 162 1500 365 126 196 360 309 93 295 1490

Diff. 22 150 30 10 15 27 18 5 15 70

Chg. % 15.71 11.11 8.96 8.62 8.29 8.11 6.19 5.68 5.36 4.93

Rank 1 2 3 4 5 6 7 8 9 10

Company Alliance Insurance Co Siddhartha Insurance Jyoti Bikash Bank Shine Resunga Development Bank Subhechha Bikas Bank Gaurishankar Development Bank Kasthamandap Development Bank Sewa Bikas Bank Lumbini Finance Nilgiri Bikas Bank

Op. 283 370 88 239 115 105 76 116 139 162

Hi. 291 370 88 241 115 105 76 116 139 165

Lo. 241 330 77 216 104 91 70 104 129 151

Cl. 241 332 79 216 104 95 70 107 129 151

Diff. -42 -38 -9 -23 -11 -10 -6 -9 -10 -11

Chg. % -14.84 -10.27 -10.23 -9.62 -9.57 -9.52 -7.89 -7.76 -7.19 -6.79

Nepse Falls 5.08 Points By Sagar Ghimire

was followed by Other, Commercial Bank, Development Bank and Trading to observe decline respectively. The Manufacturing and Production sector remained unchanged in the sub-index. The Insurance sector increased the highest by 6.75 points in the share markets last week. The Insurance opened at 1231.49 points and closed at 1238.24. Except Insurance, there was increment in Hotel, Trading and Finance sectors also. Of the individual companies, Nepal Bangladesh Bank (NBB) topped the index in terms of transaction amount, number of shares and number of transactions. The Bank made Rs 866.18 million as

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epal Stock Exchange (Nepse) index fell 5.08 points last week. It had closed on 551.55 points on Sunday (September 1) making a record of six-month to cross 500. However, it plunged to 546.55 at the end of the trading day on Thursday (September 6). Shares of 141 companies were traded in the market floor during the week through 9400 transactions, which amounts to Rs 2.097 billion. The market floor was opened on Sunday (September 1) for five days during the week. The transaction amount of ‘A’ class companies only accounts to 41.98 per cent, which equals to Rs 881.46 million. The transaction amount is 140.47 per cent higher compared to the amount of previous week, when the shares of 131 companies were traded through 8234 transactions amounting to Rs 872.19 million during four trading days. Among the sub-indices, the Hydropower sector has decreased heavily by 39.32 points closing at 1274.67. The Hydropower sector Days Sun Mon Tue Thurs Changes

Sectors Com. Banks 535.22 532.44 536.72 534.95 -0.27

Mfg. & Pro. 886.41 886.41 886.41 894.4 7.99

Hotel

Others

Hydro

670.86 669.68 682.60 672.03 11.07

670.86 1205.13 669.68 1224.58 682.60 1250.36 672.03 1303.35 1.17 98.22

Trading

Insu.

172.23 1220.58 172.23 1210.73 172.23 1218.06 172.23 1215.66 0.00 -4.91

Finance 263.46 263.83 264.40 263.98 0.52

Dev. Banks 279.23 279.07 280.95 281.17 1.93

Nepse Index 548.11 546.74 552.24 551.44 3.33

Source: Nepse

NB’s Non Performing Loan Goes below 2 pc

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epal Bangladesh Bank Limited informed that it has now less than 2 per cent as non performing loans. Releasing a press statement last Wednesday, the Bank informed that the non performing loan would decrease since it has received the payment of 29,14,012 units of promoters shares worth Rs 763 million from the Bangladesh based IFIC Bank. The Bank said it will utilize Rs 250 million

BOK Earns Rs 617.1 Million Profits

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ank of Kathmandu (BOK) earned Rs 617.1 million net profit in the Fiscal Year 2012-13. Stating that the Bank has earned satisfactory profit in the FY 2012-13, the meeting of the Board of Directors (BOD) held last Wednesday decided to recommend 0.736 per cent cash dividend and 14 per cent bonus share. The Bank’s total deposit has reached Rs 27.70 in the review period and it extended a total of Rs 23.5 billion as loans.

out of the total payment to pay off the loans of different banks and financial institution taken by the NB Bank against the collateral of NB Bank’s shares, while remaining amount would be for recovering loans taken by its Nepali directors. The Bank claimed that the loans by the directors that was counted as the non performing loan, would be recovered now which would decrease the total nonperforming loan.

Upadhyay Appointed Kumari Bank’s CEO

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he meeting of the Board of Director (BOD) of Kumari Bank Limited held last Thursday appointed Udaya Krishna Upadhyay as the Chief Executive Officer (CEO) of the Bank. Upadhyaya, who has 28 years of experience in the banking sector, had joined Kumari Bank four years ago as Deputy General Manager. He was working as Acting CEO for last two years before being appointed as the CEO for a four-year term.The bank and the board members has congratulated newly appointed CEO Upadhyay and extended best wishes and support to take the bank to a newer height during his tenure, according to a press release issued by the Bank.

Nepse on Sunday

Nepse index increased by 5.52 points closing at 552.01 on Sunday, September 8. The share market saw a total of 235.1 million turnover through 1917 transactions of 96 companies on the first day of the market floor for this week. Banking, Development and Hydropower sectors’ sub-indices increased, while Finance, Insurance and Others sectors observed a decline in the share market. The Hydropower sector surged highest by 30.32 points with closing on 1304.99, while Insurance continues plunged the most (1.54 points) with closing on 1235.8. The stock of Premier Finance Co Ltd- ‘PFCCLL’- has been resumed on Sunday at a trading rate of Rs 168 after the merger process with the Imperial Finance was cancelled. a total transaction amount through 543 transactions. The total number of Bank’s shares traded during the week was 3,206,380. Nabil Bank was on the second in the index to have the highest transaction with an amount worth Rs 397.70 million. During the week, 1,292,061 bonus shares of Sagarmatha Insurance Company, 53,747 of Salt Trading Company, 104,835 of Goodwill Finance and 139,466 bonus shares of Neco Insurance Company were listed in the Nepse. Similarly, 1,555,000 units of additional share were also listed during the week.

15 pc Bonus Share by Arun Valley

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run Valley Hydro Power Development Company Ltd decided to distribute 15 per cent of bonus share and 0.75 per cent of cash dividend. According to the press statement released by the Company, the 16th Annual General Meeting of the Company held recently also decided to authorise the Board of Directors (BOD) to issue rights share at 1:1 ratio. The company has said it has already signed a Power Purchase Agreement (PPA) with Nepal Electricity Authority for Kabeli-B1 Hydropower project of 25-megawatt capacity and Upper Piluwakhola Project of 9.6 megawatt capacity. It has informed that it is taking ahead the Kabeli-B1 project with utmost priority. The AGM has elected Guru Prashad Neupane, Ramesh Prashad Neupane, Bachchha Raj Tater, Jeevan Raj Shakya and Puja Neupane for the Board of Directors. Likewise, Sanjeev Neupane and Bhej Prashad Timilsina too have been elected unanimously for t he board.


9 - 15 September 2013 (24 - 30 Bhadra 2070 BS)

T h i n k i n g

FOCUS

T o m o r r o w

BRIEFS CAN SofTech Boosts Software Industry

The sixth edition of CAN SofTech-2013 kicked off with an aim to bring together national and international ICT related companies under a single roof at the Exhibition Hall in Bhrikuti Mandap, Kathmandu from September 4.The event came up with the slogan "Converging to e-life" which suggests the event to be extensively based on various e-solutions and services. Keeping in mind the increasing demand of genuine software in the market, Computer Association of Nepal held its annual software Expo from 4 September for four days in Kathmandu with the aims to bring together the software providers and the customers under the same roof in Nepal. Bishwo Ram Balami, the coordinator of the event, said that CAN SofTech brought together all CEOs, CIOs, CTOs, IT directors, IT managers and decision makers, ICT industry leaders, ICT professionals, engineers and consultants, government officials, banking and financial institutions, academia and ICT students system, Integrators and solutions providers and ICT users. “It is an amazing platform to share ideas, demonstrate products and services, and make information exchange with national and international software developers, products and software users, professionals engaged in various IT related industries,” he added. Supported by the Ministry of Science, Technology and Environment (MoSTE), Ministry of Information & Communication (MoIC), National Information Technology Center (NITC), Office of the Controller of Certification (OCC), Nepal Telecom Authority (NTA), Internet Service Provider Association of Nepal (ISPAN), this event strives to convert e-life in Nepal. Features of CAN SofTech 2013 were Software Development, IT Enables Services, Intranet and Data Storage, Broadband Services, Voice and Data Communication, Smart Devices, Gaming, Commerce in converged environment, Digital World, E-Governance, E-Security, Mobile Application, ICT Innovation in Nepal, ICT Training and ICT Colleges and other ICT Services and Solutions.

Raining Sops at Subisu CAN SofTech

The sponsors and stalls that are present in the CAN SofTech 2013 have put forward various offers with the aim to attract the visitors. According to CAN, the title sponsor of the event, Subisu introduced ‘Free internet package’ providing unlimited internet at the speed of 256kbps and a cable TV at Rs 1000 per month with a special discount of three months if full payment of one year in done in advance. At the same time, the company also offered internet and cable TV free for one additional month along with 10 per cent discount on cable modem and USB free of cost for the customers paying 6 months charge in advance. Diamond Sponsor, Nepal Telecom will provide e-video Dongle, rim card, talk value worth Rs 100, 1 GB memory card and facility of downloading 1 GB data for three months at a discount rate of Rs 2200. Midas Technologies also provided a gift voucher of its product of Midas eClass of Rs 300. Siddhartha Bank provided Rs 100 balance for the customers opening account in Siddhartha Hello Paisa Sewa. Similarly, KRB software offered Kohinoor web based accounting software at a discount rate of Rs 9,999.

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Software Industries Flourishing in Nepal Back at the turn of the century, outsourcing was not much of a global phenomenon as it is today, and businesses and governments alike were skeptic of transferring bulk of their IT works to the other side of the world. By Suraksha Adhikari

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he software market in Nepal is experiencing steady growth. Experts and professionals involved in this business are taking this growth as a positive aspect of developing awareness related to information technology in the country. Supporting the growth, Computer’s Association Nepal organised Subisu CAN Softech 2013 with the aim to showcase new technologies developed in the field of software, services, solutions and services and create environment to develop policies significant to promote information and communication technology in Nepal. As per CAN the overall trade of software has increased in the domestic market. Amrit Kumar Pant, General Secretary of CAN, said, the market and activities related to this business have been increasing as the people have been using software and application as necessity while it was used in the form of luxury till some years ago. “The trend of using computers is also on the rise since schools, health institutions, clubs and other social groups in far flung areas of the country have started using computers for day-to-day activities, Pant said, adding that the volume of overall ICT products will double in the next few years. CAN is working toward developing Nepal as a digital hub, particularly in software development, said Pant pointing out various international level software are being developed in Nepal. “Some years ago, people used desktop based software but now the people have switched to mobile based, android updating system which shows growing awareness of people towards technology,” he added. According to Bishwo Ram Balami, third vice president of CAN, Nepal is independent enough to produce adequate number of domestic software which is being used in cooperatives, medical establishments, small scale industries, shopping malls etc but other software like billing software, banking software are imported from other countries.

Current Business

The growing market of software business has not been only fulfilling desires of youths and the IT enthusiasts; it also has been boosting up the economy of the country. According to Narayan Neupane, second vice president of CAN, the annual transaction of 30 local companies dealing with Management Information System (MIS) is around Rs 1.5 billion. Similarly, the financial sectors and Enterprises Resource Planning (ERP) software companies are doing transaction of around Rs 4 billion per year. The operating system including Windows, Linux, Mac are annually transacting around Rs 30 million–Rs 35 million. The use of genuine and branded anti-virus software is on the rise and the trade volume of anti-virus software is around Rs 2 million. A study carried out by Central Bureau of Statistics, Government of Nepal recently showed that the computer penetration in Nepal is around 3 per cent among which 20 per cent uses internet. With the rise of mobile applications, the internet users in mobile has reached up to 67 per cent. A raw data recently showed that there are around 300 software companies in Kathmandu valley.

Increment in Outsourcing Activities

Back at the turn of the century, outsourcing was not much of a global phenomenon as it is today, and businesses and governments alike were skeptic of transferring bulk of their IT works to the other side of the world. Outsourcing has now flattened the world to a large extent, and is playing a pivotal role in bridging the digital as well as economic divide among the developed and the developing countries.

There is not a specific data on the outsourcing activities of Nepal but it has been definitely increasing as almost 2,500 graduates are being produced from BIT, BIM schools. The manpower has been increasing speedily and as the country is not being able to provide the employment opportunities to those students and they have searched alternative ways to utilize their capabilities. “Outsourcing is a common phenomenon in Nepal at present and they are working for the companies of Australia, America, Japan and other western countries,” said Balami. Pant said that the outsourcing activities have been providing employment opportunities to around 200-2500 people in the country but actual data has not yet come because most of the people are doing it on the basis of their own personal contact.

Problems and Challenges

Brain drain of the human resources has became a concern in the country. Khem Raj Bhattarai, Founder of KRB Software Pvt Ltd said that the skilled manpower are outsourcing to other countries which is a great loss to the nation. “We should bring Nepali ICT professionals, who are working abroad, to our country with capital and technology,” he said. According to the experts of this sector, lack of awareness in the people about running registered software companies have created problems. “Many developers were running

the business illegally, which was discouraging the registered companies and eventually promoting unhealthy competition in the market,” they stressed. There is lack of awareness in the people about the importance of ICT business and its prospects in the country. Pirated software users are also increasing which has been a threat to the software business and awareness should be increased to disarm these sorts of activities. Commenting on the amendment of the IT related Policy, one of the sources from Chief Investigation Bureau (CIB) said that government should come up with an updated provision to encourage the youngsters to engage in healthy business and increasing awareness about the disadvantages of pirated software to the county. They should be given a proper opportunities to showcase their abilities.

Prospects of software business

The IT sector are experiencing remarkable growth in the Nepali market. The CAN Softech have brought the IT professionals and IT enthusiasts under one roof to discuss new prospects in this sector. Such activities not only act as a hub for these peoples but also encourage them to do something innovative and remarkable in this field. Some of the IT experts feels that Nepal government should prepare special policy for implementing the original software in order to discourage the pirated software. Government sector should support the IT sector in identifying areas to brings revenue in the country.

Way ahead

In this converging era, people look for a one door solution to their problems as they want one application, which can perform multiple tasks. So, if Nepal is to gear towards introducing itself as ICT-based country, it should focus itself in developing a clean environment where information and technology can flourish in a holistic way.


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9 - 15 September 2013 (24 - 30 Bhadra 2070 BS)

TOURISM

TOURISM BRIEFS India, Japan Strengthen Tourism Ties

India and Japan have resolved to strengthen cooperation in the tourism sector. Both the tourism ministries have agreed to sign a Memorandum of Understanding (MoU) to promote bilateral tourism relations. A meeting was held in New Delhi on September 3 between Japan’s Senior Vice Minister of Land, Infrastructure, Transport and Tourism, Hiroshi Kajiyama and India’s Minister of State for Tourism, Dr K Chiranjeevi. Chiranjeevi informed his Japanese counterpart about the various measures being taken to improve Golf Tourism and MICE Tourism in India, which may be attractive to Japanese tourists and businessmen. Chiranjeevi has invited Japan to invest in the low budget hotel sector where India has liberalised the FDI route. Kajiyama said, “The proposal for investments in the budget hotel sector could form a part of the MoU between the two countries.” Furthermore, Kajiyama said he would like to lead a delegation of businessmen from Japan in the next meeting in which he hoped to conclude the MoU with India. (Traveldailymedia.com)

Boeing Forecasts Need for Pilots

Aircraft manufacturing giant, Boeing, has said the world will need over one million more commercial pilots and technicians in the next two decades to support the aircraft currently on order. In its 2013 Pilot and Technician Outlook, the company confirmed that around 498,000 new commercial pilots are going to be needed and 556,000 commercial airline maintenance technicians will need to be added to the staff counts of the world’s airlines. “The urgent demand for competent aviation personnel is a global issue that is here now and is very real,” said Sherry Carbary, vice president of Boeing Flight Services. The industry forecast projects demand will be far more serious than in previous years, after many airlines have started putting in large orders to bolster their fleets. Overall pilot demand increased in every single region except for Europe, which decreased slightly on last year’s outlook. The most common aircraft type on order is single aisle models, and represents a global requirement of roughly 25,000 new pilots per year. (Traveldailymedia.com)

Countries Call For Closer Policies at UNWTO General Assembly

The General Debate of the 20th Session of the UNWTO General Assembly has put a spotlight on the link between tourism and air transport policies. Countries attending called for closer coordination between both policies highlighting that too often these interlinked sectors are dissociated (Victoria Falls, Zambia/Zimbabwe, 28 August). Delegations from the 120 UNWTO Members States intervening at the 20th Session of the UNWTO Assembly discussed air transport policies in their respective countries and called for measures and initiatives to increase connectivity. Countries further called for closer collaboration between tourism and air transport policies. Issues such as visa facilitation, the need to make airports more visitor friendly, taxation, open skies and the impact of low cost airlines were among the issues in debate. More than one billion tourists crossed international borders during 2012, over half of who travelled by air to their destinations. (Traveldailynews.com)

T h i n k i n g

T o m o r r o w

‘Naturally Nepal Evening’ in New Delhi

N

epal Tourism Board (NTB) organized ‘Naturally Nepal Evening’ at New Delhi on 30 Aug 2013, a programme focused towards press and tour operators. Subash Niroula, Acting Chief Executive Officer, NTB expressed that by organizing such kind of programmes, NTB is looking at actively promoting Nepal in India. He viewed ‘Naturally Nepal Evening’ as a platform to reinforce and build relationships with prospective and current Indian partners. He further reiterated that Nepal is looking to tap the Indian market by being

more reachable, regular and proactive with the Indian travel trade and media as well. Bishnu Prasad Lamsal, Minister (Economic), Nepal Embassy in India said that the event has created a platform to discuss on tourism prospects

Soaltee Crowne Plaza wins Today's Traveller Award

S

oaltee Crowne Plaza, Kathmandu has won Today’s Traveller Award 2013 for the Best International Business Hotel. The award ceremony was held in New Delhi on August 30 at the Taj Palace Hotel, and was attended by known personalities from hotel industry, travel trade, airlines and media. Oscar Fernandes, Minister of Road Transport and Highways, Government of India, presented the award to Nalin Mandiratta, General Manager of the hotel. Today's Traveller Award is India's one of the most respected travel and tourism industry awards. The award was incorporated in 2007 with an objective of recognizing exceptional achievers and contributors in the hospitality, travel and tourism industry. Soaltee Crowne Plaza Kathmandu is well known for its state-of-the-art facilities and world class amenities, has received numerous awards and recognition in the past for its excellent services.

currencies, similar culture and no language barriers. The Nepalese private sector tour operators opined that participation at this particular programme provided them with a number of inquiries for Nepal and they hope they can convert the same to strong business ties. Other dignitaries in the event included Yogesh Srivastav, Senior Secretary of PHD Chamber of Commerce and Industry, India; Gour Kanjilal, Executive Director of Indian Association of Tour Operators and Kumkum Manaktala, Head of Tourism -Confederation of Indian Industry.

between Nepal and India and further strengthen economic diplomacy. On the occasion, Subash Goyal, President of Indian Association of Tour Operators opined that Nepal has tremendous advantages in terms of non-requirement of visa, easily acceptable

Etihad Airways Increases Flights to Kathmandu

E

tihad Airways will increase its Abu DhabiKathmandu service from seven flights per week to a double daily schedule from November 1, 2013. According to the Airline, the additional flights build on the success Flight Number

EY290 EY291 EY292 EY293

From

To

Abu Dhabi Kathmandu Abu Dhabi Kathmandu

Kathmandu Abu Dhabi Kathmandu Abu Dhabi

Class seats. The double daily services enhance the connectivity over the airline’s Abu Dhabi hub to key destinations in Europe, Middle East and GCC. “The addition of the new flights will further strengthen

Departure time

09:50 16:25 13:45 20:30

of the existing service, driven by the demand from business and leisure travellers and will strengthen the already strong ties between Nepal and the UAE. The new services will be operated by A320 aircraft fitted with 16 Pearl Business Class seats and 120 Economy

Arrival time

15:35 20:05 19:40 00:10

Schedule

Daily Daily Daily Daily

Flight Duration

4hr 00 5hr 25 4hr 10 5hr 25

commercial and cultural ties between Nepal and the UAE and will lead to continued strong growth in traffic flows between Kathmandu, Abu Dhabi and beyond to many key destinations across our global network,” said Kevin Knight, Etihad Airways’ Chief Strategy and Planning Officer.

August Sees Increase in International Tourist Arrivals

T

he figures released by Immigration Office, Tribhuvan International Airport (TIA) reveal that visitor arrivals in the month of August 2013, compared to the same month last year, have increased by 6.34. per cent to 47,397. In aggregate, the South Asian segment has registered positive growth of 10. per cent. Arrivals from Bangladesh, Pakistan and Sri Lanka have increased by 83.14 per cent, 36.92 per cent and 59.64

per cent respectively. India which constitutes the major market of Nepal, has recorded negative growth of 1.67 per cent. Arrivals from Asia (other than South Asia) have recorded positive growth of 21.92 per cent in aggregate. The visitor arrivals from China increased by 21.50 per cent compared to the same month last year. Similarly, the arrivals from Japan and Singapore and Malaysia have also increased by 34.54 per cent, 51.66 per cent and

73.89 per cent respectively. However, Thailand saw decline of 8.53 per cent. An overall negative growth of 17.37 per cent has been observed from the European markets. Arrivals from markets such as the UK, Germany, and France are up by 2.22 per cent, 10.38 per cent, and 2.45 per cent respectively. However, arrivals from Spain, Italy and the Netherlands have declined by 9.53 per cent, 50.56 per cent, 3.95 per cent

respectively compared to the same month last year. Tourist arrivals from Australia, Canada and the USA have increased by 39.23 per cent, 6.78 per cent and 16.05 per cent respectively. However, arrivals from New Zealand have decreased by 3.64 per cent. A total of 59,335 foreign tourists departed from TIA in August 2013. The number of Nepalis arrivals stood at 62,200 while 75,200 Nepalis departed from TIA in August 2013.

Could Technology Mean Game Over for Family Time on Holiday?

Parents surveyed in a recent poll by Villa Plus, an England based holiday company, have revealed that technology dominates their children’s holidays. Fifteen per cent of parents with children aged 18 or under who used IT devices on their last family holiday said, on average, their children used the technology for 3 hours or more every day. Moreover, almost a quarter (22 per cent) of respondents who’ve been on holiday with children said their kids usually used tablets on holiday, while over a third (35 per cent) said they used smartphones, and more than a quarter (27 per cent) stated they used games consoles. Teenagers aged between 15 and 18 are particularly devoted technology users, the data shows, with 62 per cent of parents with kids in this age group revealing they use a smartphone while on holiday. Parents of 15 to 18 year olds were also most likely to have a child who uses a laptop whilst on holiday (21 per cent). (Traveldailynews.com)

Women celebrating Teej at Pashupatinath temple. Teej is observed by Hindu women praying for wellness of their husbands.

Photo: Rukesh Shrestha/TC


9 - 15 September 2013 (24 - 30 Bhadra 2070 BS)

T h i n k i n g

LIFESTYLE & TECHNOLOGY

T o m o r r o w

11

Kohinoor Software

Perfect Business Solutions TECH BRIEFS Apple Announces Launch Event for Sept 10

Apple send out a colourful invitationl last Tuesday to a September 10 launch event at which it is widely expected to announce a new version of its iPhone. The invitation, which featured a palette of brightly coloured dots above the tag line “this should brighten everyone’s day,” followed numerous media reports that the company would be introducing a line of low-cost iPhones in a variety of playful colours.

Artificial Heart to Alert Heart Attacks Scientists have long searched for a durable artificial heart that can work as efficiently as the one supplied by nature. Now Carmat, a Paris based company, has designed an artificial heart fashioned in part from cow tissue. The device, soon to be tested in patients with heart failure, is regulated by sensors, software and microelectronics. And its power will come from two external, wearable lithium-ion batteries.

All software of these series are built on web-based platform, hence can be accessed through mobile devices or computers from any corner of the world.

SOFTWARE FOCUS

By Sanjeev Sharma

T

here are numerous software products available in the market claiming to be the ‘perfect solution’, leaving you in confusion to choose the right one. Particular software (designed for a particular task) may not be helpful to deal in various sectors. However, some bright ideas are emerging and new players in the Nepali software market are offering effective solutions to the businesses to match their needs. KRB Software Pvt Ltd is one of the leading Nepali developers offering real-time business software solutions. The company has come up with a series of ‘Kohinoor Software’ designed to meet various needs of clients. The series includes accounting and management software with high data security. All software of these series are built on web-based platform, hence can be accessed through mobile devices or computers from any corner of the world.

Kohinoor Accounting

Yahoo Rolls Out its New Logo

After an extensive amount of build-up, Yahoo has finally unveiled its brand new logo. Overall the look is cleaner and thinner, and it is a new sans-serif typeface created by Yahoo. The logo is still purple, though a shade darker, and features all the usual uppercase letters in the same order finished off by the signature enthusiastic exclamation point, which dances around in some versions.

Now, 3D Model to Pinpoint Earthquakes

Scientists have developed a new 3D model of the Earth to allow them to pinpoint the sources of earthquakes and explosions around the world more accurately than ever. Sandia National Laboratories and Los Alamos National Laboratory partnered to develop a 3-D model of the Earth’s mantle and crust called SALSA3D, or Sandia-Los Alamos 3D. The model uses a scalable triangular tessellation and seismic tomography to map the Earth’s “compressional wave seismic velocity,” a property of the rocks and other materials inside the Earth that indicates how quickly compressional waves travel through them and is one way to accurately locate seismic events, Sandia geophysicist Sandy Ballard said.

Twitter to Solve Traffic Woes

A new method may put an end to traffic woes by collecting information on transportation problems following mass events, like football matches, using tweets made by citizens on Twitter, researchers say. “The ability of social networks to produce information on heavy traffic, road hazards, quality of service of public transportation and more is valuable to decision makers,” said Dr Tsvi Kuflik, the Head of the Information Systems Department at the University of Haifa.

Built using ASP.NET MVC and SQL Server framework, Kohinoor Accounting is application software which processes the daily transactions of business firms. It has wide range of features which are suitable for all kinds of enterprises. Kohinoor Accounting has double entry book keeping system and easy-to-use ledger maintenance. The software can perform VAT reporting, document management, workflow management, normal as well as periodic profit and loss statement reporting of group and sub-groups. Similarly, it can manage complete financial reports like cash/bank summary, day book, journal details, ledgers such as stock ledger, stock ledger with value and stock valuation, trial balance, profit and loss reports, balance sheet reporting and so on. Likewise, inventory management, product and customer wise analysis report, branch wise data entry and reporting can also be done easily using this software. Users can perform search within seconds in just a few clicks as it facilitates easy and fast retrieval of data and information through its search module. Kohinoor Accounting is fully scalable and customizable software which can be used to meet the need of customers. The official price of the software is Rs 25,000. However, KRB Software is offering Kohinoor Accounting at a discounted price of Rs 9,999.

Kohinoor Hotel Management System

Kohinoor Hotel Management is designed to fulfill the needs of data management for hotels. The software is a comprehensive system which is an integrated form of service management, point of sale (POS), hotel

T

reservation, report management, inventory management, front office management, human resource management and account and payroll management etc. Users can manage check-in and check-out of hotel guests, online bookings, house-keeping and track the employee

individually or to a group of students, parents and teachers/staff to inform them on a particular topic. Parents can access the software to monitor the progress of their children. Apart from academic tasks, Kohinoor Academy also generates accurate accounting and MIS reports of educational institutions. The official price of the application system software is Rs 50,000.

Kohinoor Hospital availability and their activities. Kohinoor Hotel Management is web-based application software which provides secured database structure with the authenticated login and multi user system that organizes stores and retrieves information in real-time. Kohinoor Hotel is suitable for all kinds of hotel, motel, inn, guest house, resorts and lodges. This multi-utility software is priced at Rs 100,000.

Kohinoor Restaurant

This management software can help in smooth operation of restaurants. Kohinoor Restaurant is an integrated form of service management, POS and restaurant reservation, report management, inventory management and accounting. The software can manage transaction maintenance, bill and report generation, kitchen order token (KOT) and bar order token (BOT), waiters commission management, periodic schemes and human resource and payroll in a very effective manner. The software can also manage lostand-found belongings of customers. Kohinoor Restaurant carries a price-tag of Rs 25,000.

Kohinoor Hospital is software for managing all operations, financial transactions, doctors, nurses, other personnel, visitors and patients of a hospital. According to the company, the Kohinoor Hospital enhances intra-organisation communication and coordination, increases staff productivity, helps in offering better quality services, improves risk management, optimises revenue recovery, reduces operating cost and eliminates transcription among other benefits. The software also for patient and surgical management, doctor, nurses and patient log in, doctor consultant and their schedule management, inventory management, emergency and ambulance services, patient and staff record maintenance is a web based application. This software also has features such as laboratory and pathology automation, operation room and ICU maintenance, internal messaging system, payroll system and accounting system among others. The developer of Kohinoor Hospital has priced it at Rs 600,000.

Kohinoor Manpower

Kohinoor Academy

Kohinoor Academy is an application designed for the daily academic and administrative operational needs of educational institutions. This software includes a wide range of functional modules and features which are scalable and customisable according to the need of organisations. Kohinoor Academy can effectively manage information of students and teachers, library data and human resource records. Users can schedule or re-schedule all academic activities smartly by using this software. This software helps in generation of routine, results and exam reports with accuracy. It also lets users to print mark sheet, character certificate and identity card. Kohinoor academy can be used to setup students and classes according to the subjects and schedule examinations. It also maintains the attendance of students and teachers. Similarly, users can also schedule school bus routes. Another impressive feature of Kohinoor Academy is the SMS Module, which enables users to send mobile messages

Kohinoor Manpower management application works as an information management system and processes every operation of a manpower enterprise. “We have focused on affordable software that is simple to implement and use,” claims KRB Software. This application keeps track of all applicants, employees, clients and companies. Likewise, it tracks daily transactions, monitors target achievements, account statements, eases follow up of applicants and it can be fully customised to meet the business requirements. According to the company, this application has features such as recruitment process management, complete information management of applicants, tracks status of available workforce recruited for foreign companies, document management, financial reports management, security rights management, multi branch management among others. Kohinoor Manpower can be purchased at Rs 40,000.

Samsung Unveils Smartwatch, New Galaxy Note

he era of smartwatches has arrived. Samsung rolled out its Galaxy Gear smartwatch last Wednesday at an event in Berlin. The company also introduced its new Galaxy Note 3 smartphone and the 2014 edition of its tablet the Galaxy Note 10.1. Samsung's Galaxy Gear smartwatch can make and receive calls, take pictures, run its own apps and has a voice control function that allows users to perform tasks by speaking to the device. To navigate the device, a user can

swipe the screen from side to side and from top to bottom. The smartwatch is seamlessly connected to a Galaxy user's smartphone and shows a user's

updates, like email or texts, on the device screen. Galaxy Gear will launch in more than 140 countries starting on Sept. 25. It will be available in six different colors and will have 10 different preloaded clock options for users to choose from. The company also unveiled Samsung's Galaxy Note 3 smartphone. The smartphone

houses a S-Pen, which helps unlock the functions of the device; Samsung's Knox security system, which helps protect the device from mobile malware; and a new multiwindow feature, which enables users to multi-task easier. The smartphone also features a 5.7-inch display screen, 13 megapixel rear camera, longer battery life, faster LTE and it is available in 10 different colors. Samsung's new high-resolution tablet, an updated Galaxy Note 10.1, is a 10-inch tablet that also syncs with the Gear smartwatch.


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9 - 15 September 2013 (24 - 30 Bhadra 2070 BS)

BRANDSPEAK

BUSINESS BRIEFS

T h i n k i n g

Have a Heritage Sleep, Balaji Now Eyeing on Carpet With almost a decade long experience, the company has become successful to surpass all other international brands.

Panchakanya Group Celebrates 40th Anniversary

Panchakanya Group has celebrated 40 years of its presence in the Nepali industrial sector. On the occasion of its annual Panchakanya Day event on August 31st, the Group organized a program for the celebration. The programme held at Hotel Radisson was attended by prominent figures from the various business and non business communities. The highlight of the program was the launch of the group’s first corporate magazine by Managing Director Pradeep Kumar Shrestha.

Colors Introduces Star 4.0

Colors Mobile has introduced Star 4.0 in its Xfactor series. The handset supports 3G SIM and 3G data connections. Xfactor Star has a 4 inch capacitive touch screen and runs on Android Jelly Bean 4.2.2. The phone is powered by 1.3 GHz dual core processor and has 512 MB of RAM. There is a 3.2 MP rear camera and a 0.3 MP front camera, and the camera comes with LED flash and supports panoramic shot mode. The phone is available at a price of Rs 11,000.

Bajaj’s ‘Dusavatar’

HH Bajaj, the authorized distributor and marketer of Bajaj Motorcycles in Nepal has introduced a new scheme for Dashain and Tihar called ‘Bajaj Dusavatar’. The scheme offers every customer purchasing Bajaj bikes instant cash prizes and weekly lucky draw coupon. The scheme revolves around the number 10, and offers weekly bumper prize of Rs 1,000,000 to 10 winners. Also, the campaign will last for a period of 10 weeks and the scheme celebrates the 10 years of two wheeler market of Bajaj bikes in Nepal. This offer is active from September 1 and is applicable throughout the country.

T o m o r r o w

By Bhawani Timilsina

B

eing one of the popular local brands ‘Heritage’ mattresses is the favourite choice among the consumers. And, if all goes well, the brand is going to be available in also carpet and furnishing products in near future. “Heritage, by its name, reflects that the product is classic. And that we are also exploring business opportunities in carpet and furnishing goods,” says, Hemraj Dhakal, Director of the Balaji Coir Industries Pvt Ltd (BCIPL). The mattress segment is the key component of the BCIPL. The product was introduced in 2004. “With almost a decade long experience, the company has become successful to surpass all other international brands. We have been attempting to assess quality and comfort through heritage mattress, he says. The company imports raw materials from India, Malaysia, China, Bangladesh, Thailand etc. “We design our products according to the requirements and demand of the consumers,” Dhakal said. The company used to import mattresses from India in initial phase. Later the company had to face numerous problems and they decided to start their own production in Nepal. The major raw materials are coconut fiber and latex that adds natural quality to the product. They follow an international technology

Hemraj Dhakal Director Balaji Coir Industries Pvt Ltd

MADE IN NEPAL during manufacturing process to ensure quality. “We have a lab testing facility and with its inception we have surpassed all the other imported products. Nepalis consumers prefer our brand as it assures both quality and comfort,” he claims.

The company has 90 outlets across the country. It also supplies its product to Tibet. The price of the mattresses ranges between Rs 3,500-Rs 25,000. “We have set the price with a view to make it affordable to the people of all classes,” Dhakal said. While sharing the success factors of the brand, he says,

The company has 90 outlets across the country. It also supplies its product to Tibet. The company has been manufacturing four types of mattresses called silver, gold, diamond and platinum (including super platinum). The company claims to have occupied 20-30 percent share of the total market, with product guarantee of five years.

“Our marketing strategy plays an important role to achieve success in this field. Our consumers know how to choose the best products on the basis of quality and durability. We can assure that our product is of best quality, giving high comfort.” He also mentions the

business advantage of the growing sense in the consumers about the advantages and drawbacks of using mattresses. With the tagline ‘all season mattresses’, the product is suitable to use during all seasons, says Dhakal. The carpet market has been slowly and gradually growing in Nepal. “At a time while the Indian products were flooding the Nepali market, our brand helped reduce the import quantity,” he claims. According to Dhakal, around Rs 100 million has been invested in the company. “Though the competition is not tough, it is very essential to adopt changes in the demand. As the market has been growing it becomes very necessary to deal with quality of product.” he said He feels that the consumers will be benefitted from using Nepalis brands that offer guarantee and warrantee services. As per a market survey, nearly 60 per cent market has been occupied by the local product, whereas 40 percent by the international brands.

YSRS in Pokhara

Yamaha conducted its Yamaha Safe Riding Science (YSRS) programme on August 30 in Pokhara College of Management in Nadipur, Pokhara. The programme was attended by 60 participants. The objective of such one-day workshops is to increase road safety awareness for both bikers and pedestrians. This kind of program has been already conducted in more than 12 colleges of Kathmandu valley. The event also featured the test ride of the new reloaded Yamaha FZ-S.

Hyundai’s Festive Offer

Laxmi Intercontinental P Ltd, sole authorized distributor of Hyundai Motors in Nepal has introduced a customer scheme named ‘Dashain Tihar Ko Offer Super Duper Bumper’ for this festive season. Under this scheme, Hyundai customers can get cash discount of up to Rs 500,000 as Super offer, 50 Tola Gold (5 Tola each to 10 persons) as Duper offer, and Bumper prize of two Hyundai Eons through lucky draw.

Head Office: EBL House, Lazimpath P.O.Box 13384, Kathmandu, Nepal Tel: 4443377, 4443863, 4443864, Fax: 977-1-4443160 Email: ebl@mos.com.np, Website: www.everestbankltd.com Swift: EVBLNPKA

Published and Edited by Chairman Madan Lamsal for New Business Age Pvt Ltd, Panchayan Marg, Thapathali, Kathmandu, PO Box: 14197, Tel: 4267717, Fax: 4268726, E-mail: thecorporate@abhiyan.com.np, Regd No : 77/067/68, C.D.R. Postal Regd. No. 72/067/068, Printed at: Jagadamba Press (P) Ltd.


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9 - 15 September 2013 (24 - 30 Bhadra 2070 BS)

EDITS & OPINIONS

EDITORIAL

T h i n k i n g

There is no Investment Friendly Environment

Nepal Leadership Summit

I

t is not easy to envisage country’s bright economic future after 10 years of instability. In fact, country’s existing economic indicators are not very much positive though it has tremendous potential to take the path of progress and prosperity. Industrial growth has been hanging near zero percent, the investment rate has declined, inflation is high, industrial growth is badly affected due to the energy crisis, causing companies to struggle on how to run businesses without a reliable source of electricity. In the aforementioned situation, collective effort is a must to achieve the double digit growth. New Business Age group and Birgunj Chamber of Commerce and Industries (BiCCI) tried to find out a common solution for the existing economic slowdown. The NBA group and BiCCI jointly organized Nepal Leadership Summit: Roadmap of Economic Revolution: Vision 2080 BS in Nepal’s renowned industrial city Birgunj last week. Nepal’s five former Prime Minister since 1990 expressed their views on Nepal’s economic development. They also signed a 12-point Birgunj declaration showing their commitment to the economic revolution in Nepal giving private sector a leading role. The summit was historic in many respects. First, the summit was successful to bring together Nepal’s five former Prime Ministers who represent various political parties in a platform to discuss important economic issues. Second, it sought former PMs visions and agendas to address country’s existing adverse economic issues ranging from labour unrest to power deficit. Third, the summit also tried to figure out differences among politicians and make them convinced for the economic prosperity of the country. Last but not the least, politicians signed a 12-point pact showing their commitment to the long term economic development of the country which will be remembered as the Birgunj Declaration. It is a fact that commitment is not enough. Leaders should be ready to translate their commitment into action. There is still a long struggle ahead when it comes to engaging the government to revive the Nepali economy. The country has yet to address economic concerns and map out a strategy with business community and international support to address country’s economic problems. In a positive sign to the country’s economic prosperity, all leaders pledged not to politicize economic agenda. They also stressed that Nepal is in a dire need of economic revolution after various political changes. Regardless of their political ideology, all leaders agreed to let private sector lead the country’s development and acknowledged the government’s role as catalyst. Nepal should focus on turning the optimism about the country’s future into real action. The mood should be changed from thinking of Nepal as a poor country to as a country that holds hope. It is a difficult task to implement the 12-point Birgunj Declaration but not impossible. One thing is for sure: ‘United we stand: divided we fall’. The need of the hour is sincere commitment from all political parties to drive the country into prosperity.

CORPORATE HUMOUR

Punctual CEO! This Nepali airlines is known for its punctuality. The CEO is very particular about the timing especially that of the pilots. For last one decade, Captain Dhiraj had arrived at work at 9 A.M. on the dot. He had never missed a day and was never late. Consequently, when on one particular day 9 A.M. passed without Dhiraj’s arrival, it caused a sensation. All work ceased, and the CEO himself, looking at his watch and muttering, came out into the corridor. Finally, precisely at ten, Dhiraj showed up, clothes dusty and torn, his face scratched and bruised, his glasses bent. He limped painfully to the time clock, punched in, and said, aware that all eyes were upon him, “I tripped and rolled down and nearly killed myself as I slipped on the slippery road of Baneshwor because of rain last night.” And the CEO said, “And to roll down just two kilometers of road it took you a whole hour?” Now go to the plane as you are and fly to Biratnager as passengers are waiting. As soon as you fly back to Kathmandu go to office and submit your resignation. -ML

T o m o r r o w

This country is functioning for the past six years without any long term plans. By Madan Lamsal

D

ignitaries present in this Nepal Leadership summit are much concerned over economic future of the country. But the vibes of this positive thinking has not been circulated to the common people. This platform intends to reach to those people with a hope to develop a common economic commitment. It has already been late to discuss about country’s economy because its growth barely hovering over 3 to 4.5 per cent in last three years. Entrepreneurs and businessmen along with the capital and human resource are moving abroad in large numbers. There is no investment friendly environment in our country. There is a public blame over the government’s indifferent attitude towards the economic agenda. It is now important for a common and practical mindset regarding the economy.

Challenges of Nepali Economy

Productivity of the economy is declining and new investment is almost zero. Alarmingly, annual trade embalance is

Rs 479 billion and inflation is approximately 10 percent. Nearly, 500 thousand youths are going abroad for employment and the number of those going for education and other purposes is critically high. Nepali currency depreciated by 22 per cent in last six months. Hydel projects are the victim of indecisiveness and are politicised. This country is functioning for the past six years without any long term plans. The air of uncertainty and the fear have not receded.

People’s expectations from Leaders

People are tired of opinions and blame game. Now they want a clear and common commitment to solve the existing problems and its immediate implementation. There should not be any disagreement over the common problems.

Right Time

This is the right time for a common commitment because political parties are gearing high in preparing their manifesto. There is an expectation to make the country federal. It may take time, there might be differences but constitution would be drafted and there would be political outlet. However, the days without economic progress are the

days squandered. Result is what we are desperately seeking now.

The Clock is Ticking

We should quickly act on it because the state can’t remain without long term plans for infinite period. It has been imperative to develop a national concept about the local currency peg with the Indian currency. Remittance income has not been able to utilised in productive sector. Thus, there is no alternative to make Nepal’s economy as a part of world market system. It has been imperative to provide relief to the people and industrial sector by ending energy crisis. Economic literacy is must for the political parties. And it is necessary to spread the message of industrial sector’s progress.

The way Ahead

The way ahead is co-operation. An initiative has been taken in this summit and it has to be strengthened. We are making a common commitment for coming decade. And this is not a formality but a necessity. Let’s adopt and implement it. (Views expressed by Lamsal in the Nepal Leadership Summit)

PoliticalCommitmentNecessaryforDevelopment The major reason behind economic problems is political instability and inconsistent policies. By Ashok Baidya

W

e have made an effort to bring the former prime ministers in the same platform for a meaningful dialogue and discourse on country’s overall economic development. This is probably a first of its type in the history of Nepal. I am really delighted to welcome the former prime ministers, who are at the helm of the country, in Birgung- a city known as the main entrance as well as the economic capital of the country. We are not going to hold a political debate by bringing top leaders of the political parties in this economic and industrial hub. Rather, we are seeking a political commitment for the nation’s economic development. Water, as a form of white gold, is flowing from our rivers. Provided that we utilize this water, we can easily get rid of the chronic power deficit. This will also ensure high economic growth, trade balance and earning of foreign currencies. However, instead of considering the hydropower as a matter of business, it’s a bitter reality that hydropower projects are facing political hindrances. On the other hand, Nepal is projected as a best destination for tourism by United Nations including other international organizations. However, the number of

VISUAL EDIT

tourists in our markets has not exceeded one million per annum yet. The major reason behind all these economic problems is political instability and inconsistent policies. It is obvious that there exist of many political parties with diverse orientations in a country with multiparty democratic system. But complete and frequent changes in the whole policy resulting from the government changes is

If production is to be increased and investment is to be lured, a high level consensus is imperative on the fundamental issues of the economy. rarely see in any other country. The investors shy away from investing in the countries with instable politics and economy. Apart from these problems, our country is reeling under the power deficit and labour unrest, among other economic ordeals. Despite a high minimum wage compared to other South Asian countries, Nepal is yet to observe the normalcy in the labour sector. Thus, if productions are to be increased and investment is to be lured, a high level consensus is imperative on

the fundamental issues of the economy. I would like to request to all former prime ministers from this forum for a common agreement on the fundamental agenda of the economy. Birgunj is a strong pillar of our economy. 70 per cent of country’s total industrial investments are in BirgunjPathlaiya corridor. But the government has inflicted injustice to the BirgunjPathlaiya region by not declaring this region as an industrial corridor. Along with a demand to declare this region as industrial corridor, we demand with the government that Birgunj be declared as economic capital. We have also brought a concept of a greater Birgunj to develop this city as the country’s economic capital. The concept brought for the overall development of Birgunj aims to increase the economic and industrial activities at a high rate and build infrastructures to the par of complete metropolitan by 2080. I would like to request former prime ministers to realize the importance of this comprehensive plan and act towards materializing it. This program would not been a success without the participation of prime ministers. I would like to thank you from my inner heart for your presence. (Views expressed by Baidya during Nepal Leadership Summit.)


9 - 15 September 2013 (24 - 30 Bhadra 2070 BS)

T h i n k i n g

LEARNING CURVE

T o m o r r o w

NEWS IN BRIEF TU, IoM Published Results of Entrance Examination 2070 Bachelor Level Entrance Examination Committee 2070, Examination Control Division of the Tribhuvan University and Institute of Medicine (IoM) Dean’s Office publishes the results of following programmes (B.Pharma, B.Sc. MLT, B.Sc. MIT, B.Optom, BASLP, B.Sc. Nursing, BAMS and BDS) for the academic year 2070/2071 (2013 AD) conducted on 16 Bhadra 2070 (1 Sep 2013). MBBS Entrance 2070 results have been also published.

BTC will Provide 10 per cent Scholarship to Students The British College (BTC) has decided to provide 10 percent scholarship to students. The college took the decision during the discussion held among the college advisory committee. According to Rajan Kandel, Chief Executive Officer (CEO) of the college, the decision will certainly help in maintaining the relation between Britain and Nepal. “The discussion was focused on the future strategies and British visa as well,” he says. The college informed that students from six different countries are currently studying in the college. The advisory committee of the college includes Lord Sandwich, an elected hereditary peer in the UK House of Lords (upper house), Dr Chiran Thapa, Dr Arjun Karki, among others.

MoE Prepared New Provision for SLC Appearing Students Ministry of Education (MoE) has drafted a new provision for School Leaving Certificate (SLC) appearing students from this year onwards. According to the MoE, SLC appearing students will have to make illiterate people literate taking literacy classes has been taken by to accomplish the goal targeted under the literary campaign. As per the new provision, each student should make three illiterate persons literate to obtain ten marks. The total number of illiterate persons comes from an age group of 15-60.

NCC Celebrated Golden Jubilee Nepal Commerce Campus celebrated golden Jubilee on September 3 at the college premise. Chairman of the interim election government, Khil Raj Regmi and Education Minister Madhav Prasad Poudel were present in the programme. On the occasion, Regmi said that the government is planning to increase budget in higher education sector in coming days.

Interaction Programme @ Tourism & Hotel Management College Nepal Tourism and Hotel Management College at Pokhara organized an interaction programme on ‘Role of Management Education’ on September 4. Speaking at the programme Prof Ujjwal K Chowdhury, former Dean of the Symbiosis International University of India and Senior Consultant of The New Business Age Pvt Ltd said that the education system should not only be based on theoretical knowledge but it should follow investigative system. He said, “Management Colleges should focus on job viability rather than on the quantity of the students.” Ambassador of Sri Lanka to Nepal WM Senevirathna talked about the feasibility of tourism and hotel business in Nepal. According to the Ashok Palikhele, chairperson of the management committee of the college, such interaction programmes helps in sharing knowledge.

7

‘The new media has impacted the journalism teaching and training’ Martin Huckerby is a well known British Journalist with wide experience as a reporter and news editor on top UK newspapers. In these fifteen years, of career he has worked as an editorial consultant, advising news organizations and training journalists around the globe. He was editor of The Prague Post, the English-language paper of the Czech Republic (1992-96), foreign news editor of The Observer, London (1989-92) and reporter and news editor at The Times, London (1972-86). Currently, he is in Nepal to provide investigative journalism training. He shares his experiences as a trainer with Siromani Dhungana and Sanjeev Sharma of The Corporate. Excerpt:

HEAD-TALK

away quickly. In western countries, traditional media are still making profit. However, it is a fact that new media has made them less profitable. The financial crisis and the rise of digital media have slowed the pace of advertising into the traditional media. Thus, we can say that the media particularly in the west, is facing a situation of double whammy. The digital revolution has brought a massive change which the traditional media are adapting to gradually. The new media has also impacted the journalism teaching and training. There are a whole lot of materials to study in the web. One can get training from anywhere from any part of the world. However, I think the level of interaction between trainer and the trainee during the online training is somewhat limited.

I think while writing news, journalists should try to explore ways to make the issues more attractive and interesting. Every journalist should be aware of the need of readers or viewers.

How do you assess the current scenario of business journalism throughout the world?

What to you exactly do at Thompson foundation?

I am simply a consultant, an outsider in Thompson Foundation. I am an independent media consultant/trainer and a journalist. I have been working closely with Thomson Foundation since last couple of years.

You are a renowned journalism trainer at present? What excites you about the training?

If people benefit from the training it is always a pleasure for me. It is actually a sense of putting the opportunities I’ve had or things I’ve learned to passed on to other people who want to use them. The other nice thing about being a journalism trainer is the opportunity to go to other countries and meet different people, which is very interesting part of my job.

What are the most important things you want to pass on to the participants of the trainings?

It varies from countries to countries. It is important to tell whatever you are doing in the particular environment and in a particular political situation. For instance, I had been in Nepal and South Africa as a trainer last year to train journalists. I found that the environment was totally different in South Africa compared to Nepal. Choice of topics, issues and approaches in trainings varies from place to place.

What are the basic skills you want to pass on to the journalists in general?

There are many skills that you can use as a journalist. I wouldn’t say that there are specific skills to pass on. I think we are in a business of opening people’s eyes and making them realize that there are different ways of approaching their jobs according to the norms on their organization or countries. We basically try to train journalists about the different ways of approaching issues and topics. I divide news into two broad categories- news that is important to people and news that they are interested in. I think while writing news, journalists should try to explore ways to make the issues more attractive and interesting. Every journalist should be aware of the need of readers or viewers. Talking about Nepali media sector, in 20 years there has been pretty amazing and tremendous progress. With relatively low level of trainings, Nepali journalists made their way pretty amazingly.

There is a rapid change in media technology these days. What changes have new technology brought to the media landscape?

I think the change and impact brought by technology is very vast. Use of technology has made a constant change in all types of media. Most are faced with the future which is incredibly unclear. I remember a conversation with one of the top digital news official in the BBC a few years ago. During the conversation, he told me that now we should try fast and kill fast. He was

referring to their work style, and the fact that the news ideas are coming very quickly from various sources through different media. And if they don’t find those news to be useful they would be ‘killed’ or thrown

I can’t make many intelligent comments about the particular topic as I am not an expert in business journalism. However, I do compare business and financial publications of different countries. I would say that business journalism varies considerably in different countries and different aspects should be considered while writing business news. I mean to say that the impact of different business, financial and economic events in everyday life of people should be highlighted in the first hand.


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9 - 15 September 2013 (24 - 30 Bhadra 2070 BS)

MONEY MATTERS

T h i n k i n g

NEWS IN BRIEF

Weekly Gold and Silver Price

T o m o r r o w

US Dollar Exchange Rate at Local Market

Everest Bank’s Mobile ATM Facility Everest Bank Limited began a mobile ATM facility. As per this facility, customers do not need to go to branch to get the banking services of the Everest Bank. The customers can get the payment from the designated bank representative. The Bank said that they have their designated representatives across the country. According to the press release of the bank, customers can also open their bank account from the designated representative. Everest Bank has introduced the concept of branchless banking service for the first time in Nepal.

Siddhartha Dev Bank’s ‘Home Loan Scheme’

Siddhartha Development Bank brought a ‘SDBL Home Loan’ scheme. The Bank said it has brought the scheme to fulfill the dream of every citizen to have their own home. The Bank informed that it will extend the maximum loan up to Rs 10 million to purchase home and apartment as well as to build the home.

Kailash Proposes 19 per cent Dividend

Kailash Development Bank Ltd said it will distribute 19 per cent dividend from the profit earned in the Fiscal Year 2012-13. The meeting of the Board of Directors (BOD) held last Wednesday decided to recommend distribution of 10 per cent bonus share and 9 per cent cash dividend. The Bank has collected Rs 6.26 billion deposit and extended a total of Rs 5.5 billion as loans in the Fiscal Year 2012-13. It informed that it has earned Rs 152.6 million net profit in the review period.

Discount on Infrastructure’s Locker Infrastructure Development Bank Ltd said it will provide the free locker facility for a year to the customer opening bank account on ‘Naari Samriddi Khaata’. The Bank said it is providing this facility on the auspicious occasion of Hindu women’s festival Teej. The Bank, which merged with Swastik Merchant Finance Co Ltd last year, is providing banking services to its customers through 18 branches.

Laxmi Bank’s branch at Kohalpur

Laxmi Bank Ltd opened its branch at Kohalpur in Nepalgunj. The branch started its operation from last Monday. The number of the Bank’s branches has reached 33 with this newly opened branch. The Branch’s Manager Rima Malla informed that the branch will offer ATM, internet banking, mobile and other services.

Bhrikuti Development Enters 10th Year Bhrikuti Development Bank Ltd headquartered in Butwal entered 10th year last Tuesday. The Bank had started its operation on September 3, 2004. The Bank’s paid up capital that started with Rs 10.5 million has now reached Rs 353.1. The Bank has expanded its services to 10 districts. The Bank said that the deposit amount of the bank has reached a total of Rs 4.30 billion and extended a total of Rs 3.21 billion as loans until the end of the Fiscal Year 2012-13. The bank has earned Rs 110 million profit.

Om Finance to Distribute 21 pc Dividend Om Finance Ltd headquartered at Pokhara said it is planning to distribute 20 per cent bonus share and 1 per cent cash dividend. The Finance’s Annual General Meeting will decide to distribute a total of 21 per cent dividend after getting the approval from the Nepal Rastra Bank, according to the press statement released by the General Manager of Om Finance last Monday. Malla informed that the paid up capital of the Finance will be of worth Rs 325.7 million after distributing the dividend.

Source: Nepal Gold and Silver Dealers’ Association

TopTen Gainers Rank 1 2 3 4 5 6 7 8 9 10

Source: Nepal Rastra Bank

Top Ten Losers

Company Oriental Hotel Life Insurance Co Muktinath Bikas Bank Gandaki Bikas Bank Premier Insurance Co Himalayan Gen.Insu Excel Development Bank Karnali Development Bank Nepal Credit & Com Bank Citizen Investment Trust

Op. 140 1350 335 116 181 333 291 88 280 1420

Hi. 162 1514 365 126 218 417 318 96 295 1500

Lo. 140 1316 329 114 169 309 286 83 275 1400

Cl. 162 1500 365 126 196 360 309 93 295 1490

Diff. 22 150 30 10 15 27 18 5 15 70

Chg. % 15.71 11.11 8.96 8.62 8.29 8.11 6.19 5.68 5.36 4.93

Rank 1 2 3 4 5 6 7 8 9 10

Company Alliance Insurance Co Siddhartha Insurance Jyoti Bikash Bank Shine Resunga Development Bank Subhechha Bikas Bank Gaurishankar Development Bank Kasthamandap Development Bank Sewa Bikas Bank Lumbini Finance Nilgiri Bikas Bank

Op. 283 370 88 239 115 105 76 116 139 162

Hi. 291 370 88 241 115 105 76 116 139 165

Lo. 241 330 77 216 104 91 70 104 129 151

Cl. 241 332 79 216 104 95 70 107 129 151

Diff. -42 -38 -9 -23 -11 -10 -6 -9 -10 -11

Chg. % -14.84 -10.27 -10.23 -9.62 -9.57 -9.52 -7.89 -7.76 -7.19 -6.79

Nepse Falls 5.08 Points By Sagar Ghimire

was followed by Other, Commercial Bank, Development Bank and Trading to observe decline respectively. The Manufacturing and Production sector remained unchanged in the sub-index. The Insurance sector increased the highest by 6.75 points in the share markets last week. The Insurance opened at 1231.49 points and closed at 1238.24. Except Insurance, there was increment in Hotel, Trading and Finance sectors also. Of the individual companies, Nepal Bangladesh Bank (NBB) topped the index in terms of transaction amount, number of shares and number of transactions. The Bank made Rs 866.18 million as

N

epal Stock Exchange (Nepse) index fell 5.08 points last week. It had closed on 551.55 points on Sunday (September 1) making a record of six-month to cross 500. However, it plunged to 546.55 at the end of the trading day on Thursday (September 6). Shares of 141 companies were traded in the market floor during the week through 9400 transactions, which amounts to Rs 2.097 billion. The market floor was opened on Sunday (September 1) for five days during the week. The transaction amount of ‘A’ class companies only accounts to 41.98 per cent, which equals to Rs 881.46 million. The transaction amount is 140.47 per cent higher compared to the amount of previous week, when the shares of 131 companies were traded through 8234 transactions amounting to Rs 872.19 million during four trading days. Among the sub-indices, the Hydropower sector has decreased heavily by 39.32 points closing at 1274.67. The Hydropower sector Days Sun Mon Tue Thurs Changes

Sectors Com. Banks 535.22 532.44 536.72 534.95 -0.27

Mfg. & Pro. 886.41 886.41 886.41 894.4 7.99

Hotel

Others

Hydro

670.86 669.68 682.60 672.03 11.07

670.86 1205.13 669.68 1224.58 682.60 1250.36 672.03 1303.35 1.17 98.22

Trading

Insu.

172.23 1220.58 172.23 1210.73 172.23 1218.06 172.23 1215.66 0.00 -4.91

Finance 263.46 263.83 264.40 263.98 0.52

Dev. Banks 279.23 279.07 280.95 281.17 1.93

Nepse Index 548.11 546.74 552.24 551.44 3.33

Source: Nepse

NB’s Non Performing Loan Goes below 2 pc

N

epal Bangladesh Bank Limited informed that it has now less than 2 per cent as non performing loans. Releasing a press statement last Wednesday, the Bank informed that the non performing loan would decrease since it has received the payment of 29,14,012 units of promoters shares worth Rs 763 million from the Bangladesh based IFIC Bank. The Bank said it will utilize Rs 250 million

BOK Earns Rs 617.1 Million Profits

B

ank of Kathmandu (BOK) earned Rs 617.1 million net profit in the Fiscal Year 2012-13. Stating that the Bank has earned satisfactory profit in the FY 2012-13, the meeting of the Board of Directors (BOD) held last Wednesday decided to recommend 0.736 per cent cash dividend and 14 per cent bonus share. The Bank’s total deposit has reached Rs 27.70 in the review period and it extended a total of Rs 23.5 billion as loans.

out of the total payment to pay off the loans of different banks and financial institution taken by the NB Bank against the collateral of NB Bank’s shares, while remaining amount would be for recovering loans taken by its Nepali directors. The Bank claimed that the loans by the directors that was counted as the non performing loan, would be recovered now which would decrease the total nonperforming loan.

Upadhyay Appointed Kumari Bank’s CEO

T

he meeting of the Board of Director (BOD) of Kumari Bank Limited held last Thursday appointed Udaya Krishna Upadhyay as the Chief Executive Officer (CEO) of the Bank. Upadhyaya, who has 28 years of experience in the banking sector, had joined Kumari Bank four years ago as Deputy General Manager. He was working as Acting CEO for last two years before being appointed as the CEO for a four-year term.The bank and the board members has congratulated newly appointed CEO Upadhyay and extended best wishes and support to take the bank to a newer height during his tenure, according to a press release issued by the Bank.

Nepse on Sunday

Nepse index increased by 5.52 points closing at 552.01 on Sunday, September 8. The share market saw a total of 235.1 million turnover through 1917 transactions of 96 companies on the first day of the market floor for this week. Banking, Development and Hydropower sectors’ sub-indices increased, while Finance, Insurance and Others sectors observed a decline in the share market. The Hydropower sector surged highest by 30.32 points with closing on 1304.99, while Insurance continues plunged the most (1.54 points) with closing on 1235.8. The stock of Premier Finance Co Ltd- ‘PFCCLL’- has been resumed on Sunday at a trading rate of Rs 168 after the merger process with the Imperial Finance was cancelled. a total transaction amount through 543 transactions. The total number of Bank’s shares traded during the week was 3,206,380. Nabil Bank was on the second in the index to have the highest transaction with an amount worth Rs 397.70 million. During the week, 1,292,061 bonus shares of Sagarmatha Insurance Company, 53,747 of Salt Trading Company, 104,835 of Goodwill Finance and 139,466 bonus shares of Neco Insurance Company were listed in the Nepse. Similarly, 1,555,000 units of additional share were also listed during the week.

15 pc Bonus Share by Arun Valley

A

run Valley Hydro Power Development Company Ltd decided to distribute 15 per cent of bonus share and 0.75 per cent of cash dividend. According to the press statement released by the Company, the 16th Annual General Meeting of the Company held recently also decided to authorise the Board of Directors (BOD) to issue rights share at 1:1 ratio. The company has said it has already signed a Power Purchase Agreement (PPA) with Nepal Electricity Authority for Kabeli-B1 Hydropower project of 25-megawatt capacity and Upper Piluwakhola Project of 9.6 megawatt capacity. It has informed that it is taking ahead the Kabeli-B1 project with utmost priority. The AGM has elected Guru Prashad Neupane, Ramesh Prashad Neupane, Bachchha Raj Tater, Jeevan Raj Shakya and Puja Neupane for the Board of Directors. Likewise, Sanjeev Neupane and Bhej Prashad Timilsina too have been elected unanimously for t he board.


9 - 15 September 2013 (24 - 30 Bhadra 2070 BS)

T h i n k i n g

FOCUS

T o m o r r o w

BRIEFS CAN SofTech Boosts Software Industry

The sixth edition of CAN SofTech-2013 kicked off with an aim to bring together national and international ICT related companies under a single roof at the Exhibition Hall in Bhrikuti Mandap, Kathmandu from September 4.The event came up with the slogan "Converging to e-life" which suggests the event to be extensively based on various e-solutions and services. Keeping in mind the increasing demand of genuine software in the market, Computer Association of Nepal held its annual software Expo from 4 September for four days in Kathmandu with the aims to bring together the software providers and the customers under the same roof in Nepal. Bishwo Ram Balami, the coordinator of the event, said that CAN SofTech brought together all CEOs, CIOs, CTOs, IT directors, IT managers and decision makers, ICT industry leaders, ICT professionals, engineers and consultants, government officials, banking and financial institutions, academia and ICT students system, Integrators and solutions providers and ICT users. “It is an amazing platform to share ideas, demonstrate products and services, and make information exchange with national and international software developers, products and software users, professionals engaged in various IT related industries,” he added. Supported by the Ministry of Science, Technology and Environment (MoSTE), Ministry of Information & Communication (MoIC), National Information Technology Center (NITC), Office of the Controller of Certification (OCC), Nepal Telecom Authority (NTA), Internet Service Provider Association of Nepal (ISPAN), this event strives to convert e-life in Nepal. Features of CAN SofTech 2013 were Software Development, IT Enables Services, Intranet and Data Storage, Broadband Services, Voice and Data Communication, Smart Devices, Gaming, Commerce in converged environment, Digital World, E-Governance, E-Security, Mobile Application, ICT Innovation in Nepal, ICT Training and ICT Colleges and other ICT Services and Solutions.

Raining Sops at Subisu CAN SofTech

The sponsors and stalls that are present in the CAN SofTech 2013 have put forward various offers with the aim to attract the visitors. According to CAN, the title sponsor of the event, Subisu introduced ‘Free internet package’ providing unlimited internet at the speed of 256kbps and a cable TV at Rs 1000 per month with a special discount of three months if full payment of one year in done in advance. At the same time, the company also offered internet and cable TV free for one additional month along with 10 per cent discount on cable modem and USB free of cost for the customers paying 6 months charge in advance. Diamond Sponsor, Nepal Telecom will provide e-video Dongle, rim card, talk value worth Rs 100, 1 GB memory card and facility of downloading 1 GB data for three months at a discount rate of Rs 2200. Midas Technologies also provided a gift voucher of its product of Midas eClass of Rs 300. Siddhartha Bank provided Rs 100 balance for the customers opening account in Siddhartha Hello Paisa Sewa. Similarly, KRB software offered Kohinoor web based accounting software at a discount rate of Rs 9,999.

9

Software Industries Flourishing in Nepal Back at the turn of the century, outsourcing was not much of a global phenomenon as it is today, and businesses and governments alike were skeptic of transferring bulk of their IT works to the other side of the world. By Suraksha Adhikari

T

he software market in Nepal is experiencing steady growth. Experts and professionals involved in this business are taking this growth as a positive aspect of developing awareness related to information technology in the country. Supporting the growth, Computer’s Association Nepal organised Subisu CAN Softech 2013 with the aim to showcase new technologies developed in the field of software, services, solutions and services and create environment to develop policies significant to promote information and communication technology in Nepal. As per CAN the overall trade of software has increased in the domestic market. Amrit Kumar Pant, General Secretary of CAN, said, the market and activities related to this business have been increasing as the people have been using software and application as necessity while it was used in the form of luxury till some years ago. “The trend of using computers is also on the rise since schools, health institutions, clubs and other social groups in far flung areas of the country have started using computers for day-to-day activities, Pant said, adding that the volume of overall ICT products will double in the next few years. CAN is working toward developing Nepal as a digital hub, particularly in software development, said Pant pointing out various international level software are being developed in Nepal. “Some years ago, people used desktop based software but now the people have switched to mobile based, android updating system which shows growing awareness of people towards technology,” he added. According to Bishwo Ram Balami, third vice president of CAN, Nepal is independent enough to produce adequate number of domestic software which is being used in cooperatives, medical establishments, small scale industries, shopping malls etc but other software like billing software, banking software are imported from other countries.

Current Business

The growing market of software business has not been only fulfilling desires of youths and the IT enthusiasts; it also has been boosting up the economy of the country. According to Narayan Neupane, second vice president of CAN, the annual transaction of 30 local companies dealing with Management Information System (MIS) is around Rs 1.5 billion. Similarly, the financial sectors and Enterprises Resource Planning (ERP) software companies are doing transaction of around Rs 4 billion per year. The operating system including Windows, Linux, Mac are annually transacting around Rs 30 million–Rs 35 million. The use of genuine and branded anti-virus software is on the rise and the trade volume of anti-virus software is around Rs 2 million. A study carried out by Central Bureau of Statistics, Government of Nepal recently showed that the computer penetration in Nepal is around 3 per cent among which 20 per cent uses internet. With the rise of mobile applications, the internet users in mobile has reached up to 67 per cent. A raw data recently showed that there are around 300 software companies in Kathmandu valley.

Increment in Outsourcing Activities

Back at the turn of the century, outsourcing was not much of a global phenomenon as it is today, and businesses and governments alike were skeptic of transferring bulk of their IT works to the other side of the world. Outsourcing has now flattened the world to a large extent, and is playing a pivotal role in bridging the digital as well as economic divide among the developed and the developing countries.

There is not a specific data on the outsourcing activities of Nepal but it has been definitely increasing as almost 2,500 graduates are being produced from BIT, BIM schools. The manpower has been increasing speedily and as the country is not being able to provide the employment opportunities to those students and they have searched alternative ways to utilize their capabilities. “Outsourcing is a common phenomenon in Nepal at present and they are working for the companies of Australia, America, Japan and other western countries,” said Balami. Pant said that the outsourcing activities have been providing employment opportunities to around 200-2500 people in the country but actual data has not yet come because most of the people are doing it on the basis of their own personal contact.

Problems and Challenges

Brain drain of the human resources has became a concern in the country. Khem Raj Bhattarai, Founder of KRB Software Pvt Ltd said that the skilled manpower are outsourcing to other countries which is a great loss to the nation. “We should bring Nepali ICT professionals, who are working abroad, to our country with capital and technology,” he said. According to the experts of this sector, lack of awareness in the people about running registered software companies have created problems. “Many developers were running

the business illegally, which was discouraging the registered companies and eventually promoting unhealthy competition in the market,” they stressed. There is lack of awareness in the people about the importance of ICT business and its prospects in the country. Pirated software users are also increasing which has been a threat to the software business and awareness should be increased to disarm these sorts of activities. Commenting on the amendment of the IT related Policy, one of the sources from Chief Investigation Bureau (CIB) said that government should come up with an updated provision to encourage the youngsters to engage in healthy business and increasing awareness about the disadvantages of pirated software to the county. They should be given a proper opportunities to showcase their abilities.

Prospects of software business

The IT sector are experiencing remarkable growth in the Nepali market. The CAN Softech have brought the IT professionals and IT enthusiasts under one roof to discuss new prospects in this sector. Such activities not only act as a hub for these peoples but also encourage them to do something innovative and remarkable in this field. Some of the IT experts feels that Nepal government should prepare special policy for implementing the original software in order to discourage the pirated software. Government sector should support the IT sector in identifying areas to brings revenue in the country.

Way ahead

In this converging era, people look for a one door solution to their problems as they want one application, which can perform multiple tasks. So, if Nepal is to gear towards introducing itself as ICT-based country, it should focus itself in developing a clean environment where information and technology can flourish in a holistic way.


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9 - 15 September 2013 (24 - 30 Bhadra 2070 BS)

TOURISM

TOURISM BRIEFS India, Japan Strengthen Tourism Ties

India and Japan have resolved to strengthen cooperation in the tourism sector. Both the tourism ministries have agreed to sign a Memorandum of Understanding (MoU) to promote bilateral tourism relations. A meeting was held in New Delhi on September 3 between Japan’s Senior Vice Minister of Land, Infrastructure, Transport and Tourism, Hiroshi Kajiyama and India’s Minister of State for Tourism, Dr K Chiranjeevi. Chiranjeevi informed his Japanese counterpart about the various measures being taken to improve Golf Tourism and MICE Tourism in India, which may be attractive to Japanese tourists and businessmen. Chiranjeevi has invited Japan to invest in the low budget hotel sector where India has liberalised the FDI route. Kajiyama said, “The proposal for investments in the budget hotel sector could form a part of the MoU between the two countries.” Furthermore, Kajiyama said he would like to lead a delegation of businessmen from Japan in the next meeting in which he hoped to conclude the MoU with India. (Traveldailymedia.com)

Boeing Forecasts Need for Pilots

Aircraft manufacturing giant, Boeing, has said the world will need over one million more commercial pilots and technicians in the next two decades to support the aircraft currently on order. In its 2013 Pilot and Technician Outlook, the company confirmed that around 498,000 new commercial pilots are going to be needed and 556,000 commercial airline maintenance technicians will need to be added to the staff counts of the world’s airlines. “The urgent demand for competent aviation personnel is a global issue that is here now and is very real,” said Sherry Carbary, vice president of Boeing Flight Services. The industry forecast projects demand will be far more serious than in previous years, after many airlines have started putting in large orders to bolster their fleets. Overall pilot demand increased in every single region except for Europe, which decreased slightly on last year’s outlook. The most common aircraft type on order is single aisle models, and represents a global requirement of roughly 25,000 new pilots per year. (Traveldailymedia.com)

Countries Call For Closer Policies at UNWTO General Assembly

The General Debate of the 20th Session of the UNWTO General Assembly has put a spotlight on the link between tourism and air transport policies. Countries attending called for closer coordination between both policies highlighting that too often these interlinked sectors are dissociated (Victoria Falls, Zambia/Zimbabwe, 28 August). Delegations from the 120 UNWTO Members States intervening at the 20th Session of the UNWTO Assembly discussed air transport policies in their respective countries and called for measures and initiatives to increase connectivity. Countries further called for closer collaboration between tourism and air transport policies. Issues such as visa facilitation, the need to make airports more visitor friendly, taxation, open skies and the impact of low cost airlines were among the issues in debate. More than one billion tourists crossed international borders during 2012, over half of who travelled by air to their destinations. (Traveldailynews.com)

T h i n k i n g

T o m o r r o w

‘Naturally Nepal Evening’ in New Delhi

N

epal Tourism Board (NTB) organized ‘Naturally Nepal Evening’ at New Delhi on 30 Aug 2013, a programme focused towards press and tour operators. Subash Niroula, Acting Chief Executive Officer, NTB expressed that by organizing such kind of programmes, NTB is looking at actively promoting Nepal in India. He viewed ‘Naturally Nepal Evening’ as a platform to reinforce and build relationships with prospective and current Indian partners. He further reiterated that Nepal is looking to tap the Indian market by being

more reachable, regular and proactive with the Indian travel trade and media as well. Bishnu Prasad Lamsal, Minister (Economic), Nepal Embassy in India said that the event has created a platform to discuss on tourism prospects

Soaltee Crowne Plaza wins Today's Traveller Award

S

oaltee Crowne Plaza, Kathmandu has won Today’s Traveller Award 2013 for the Best International Business Hotel. The award ceremony was held in New Delhi on August 30 at the Taj Palace Hotel, and was attended by known personalities from hotel industry, travel trade, airlines and media. Oscar Fernandes, Minister of Road Transport and Highways, Government of India, presented the award to Nalin Mandiratta, General Manager of the hotel. Today's Traveller Award is India's one of the most respected travel and tourism industry awards. The award was incorporated in 2007 with an objective of recognizing exceptional achievers and contributors in the hospitality, travel and tourism industry. Soaltee Crowne Plaza Kathmandu is well known for its state-of-the-art facilities and world class amenities, has received numerous awards and recognition in the past for its excellent services.

currencies, similar culture and no language barriers. The Nepalese private sector tour operators opined that participation at this particular programme provided them with a number of inquiries for Nepal and they hope they can convert the same to strong business ties. Other dignitaries in the event included Yogesh Srivastav, Senior Secretary of PHD Chamber of Commerce and Industry, India; Gour Kanjilal, Executive Director of Indian Association of Tour Operators and Kumkum Manaktala, Head of Tourism -Confederation of Indian Industry.

between Nepal and India and further strengthen economic diplomacy. On the occasion, Subash Goyal, President of Indian Association of Tour Operators opined that Nepal has tremendous advantages in terms of non-requirement of visa, easily acceptable

Etihad Airways Increases Flights to Kathmandu

E

tihad Airways will increase its Abu DhabiKathmandu service from seven flights per week to a double daily schedule from November 1, 2013. According to the Airline, the additional flights build on the success Flight Number

EY290 EY291 EY292 EY293

From

To

Abu Dhabi Kathmandu Abu Dhabi Kathmandu

Kathmandu Abu Dhabi Kathmandu Abu Dhabi

Class seats. The double daily services enhance the connectivity over the airline’s Abu Dhabi hub to key destinations in Europe, Middle East and GCC. “The addition of the new flights will further strengthen

Departure time

09:50 16:25 13:45 20:30

of the existing service, driven by the demand from business and leisure travellers and will strengthen the already strong ties between Nepal and the UAE. The new services will be operated by A320 aircraft fitted with 16 Pearl Business Class seats and 120 Economy

Arrival time

15:35 20:05 19:40 00:10

Schedule

Daily Daily Daily Daily

Flight Duration

4hr 00 5hr 25 4hr 10 5hr 25

commercial and cultural ties between Nepal and the UAE and will lead to continued strong growth in traffic flows between Kathmandu, Abu Dhabi and beyond to many key destinations across our global network,” said Kevin Knight, Etihad Airways’ Chief Strategy and Planning Officer.

August Sees Increase in International Tourist Arrivals

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he figures released by Immigration Office, Tribhuvan International Airport (TIA) reveal that visitor arrivals in the month of August 2013, compared to the same month last year, have increased by 6.34. per cent to 47,397. In aggregate, the South Asian segment has registered positive growth of 10. per cent. Arrivals from Bangladesh, Pakistan and Sri Lanka have increased by 83.14 per cent, 36.92 per cent and 59.64

per cent respectively. India which constitutes the major market of Nepal, has recorded negative growth of 1.67 per cent. Arrivals from Asia (other than South Asia) have recorded positive growth of 21.92 per cent in aggregate. The visitor arrivals from China increased by 21.50 per cent compared to the same month last year. Similarly, the arrivals from Japan and Singapore and Malaysia have also increased by 34.54 per cent, 51.66 per cent and

73.89 per cent respectively. However, Thailand saw decline of 8.53 per cent. An overall negative growth of 17.37 per cent has been observed from the European markets. Arrivals from markets such as the UK, Germany, and France are up by 2.22 per cent, 10.38 per cent, and 2.45 per cent respectively. However, arrivals from Spain, Italy and the Netherlands have declined by 9.53 per cent, 50.56 per cent, 3.95 per cent

respectively compared to the same month last year. Tourist arrivals from Australia, Canada and the USA have increased by 39.23 per cent, 6.78 per cent and 16.05 per cent respectively. However, arrivals from New Zealand have decreased by 3.64 per cent. A total of 59,335 foreign tourists departed from TIA in August 2013. The number of Nepalis arrivals stood at 62,200 while 75,200 Nepalis departed from TIA in August 2013.

Could Technology Mean Game Over for Family Time on Holiday?

Parents surveyed in a recent poll by Villa Plus, an England based holiday company, have revealed that technology dominates their children’s holidays. Fifteen per cent of parents with children aged 18 or under who used IT devices on their last family holiday said, on average, their children used the technology for 3 hours or more every day. Moreover, almost a quarter (22 per cent) of respondents who’ve been on holiday with children said their kids usually used tablets on holiday, while over a third (35 per cent) said they used smartphones, and more than a quarter (27 per cent) stated they used games consoles. Teenagers aged between 15 and 18 are particularly devoted technology users, the data shows, with 62 per cent of parents with kids in this age group revealing they use a smartphone while on holiday. Parents of 15 to 18 year olds were also most likely to have a child who uses a laptop whilst on holiday (21 per cent). (Traveldailynews.com)

Women celebrating Teej at Pashupatinath temple. Teej is observed by Hindu women praying for wellness of their husbands.

Photo: Rukesh Shrestha/TC


9 - 15 September 2013 (24 - 30 Bhadra 2070 BS)

T h i n k i n g

LIFESTYLE & TECHNOLOGY

T o m o r r o w

11

Kohinoor Software

Perfect Business Solutions TECH BRIEFS Apple Announces Launch Event for Sept 10

Apple send out a colourful invitationl last Tuesday to a September 10 launch event at which it is widely expected to announce a new version of its iPhone. The invitation, which featured a palette of brightly coloured dots above the tag line “this should brighten everyone’s day,” followed numerous media reports that the company would be introducing a line of low-cost iPhones in a variety of playful colours.

Artificial Heart to Alert Heart Attacks Scientists have long searched for a durable artificial heart that can work as efficiently as the one supplied by nature. Now Carmat, a Paris based company, has designed an artificial heart fashioned in part from cow tissue. The device, soon to be tested in patients with heart failure, is regulated by sensors, software and microelectronics. And its power will come from two external, wearable lithium-ion batteries.

All software of these series are built on web-based platform, hence can be accessed through mobile devices or computers from any corner of the world.

SOFTWARE FOCUS

By Sanjeev Sharma

T

here are numerous software products available in the market claiming to be the ‘perfect solution’, leaving you in confusion to choose the right one. Particular software (designed for a particular task) may not be helpful to deal in various sectors. However, some bright ideas are emerging and new players in the Nepali software market are offering effective solutions to the businesses to match their needs. KRB Software Pvt Ltd is one of the leading Nepali developers offering real-time business software solutions. The company has come up with a series of ‘Kohinoor Software’ designed to meet various needs of clients. The series includes accounting and management software with high data security. All software of these series are built on web-based platform, hence can be accessed through mobile devices or computers from any corner of the world.

Kohinoor Accounting

Yahoo Rolls Out its New Logo

After an extensive amount of build-up, Yahoo has finally unveiled its brand new logo. Overall the look is cleaner and thinner, and it is a new sans-serif typeface created by Yahoo. The logo is still purple, though a shade darker, and features all the usual uppercase letters in the same order finished off by the signature enthusiastic exclamation point, which dances around in some versions.

Now, 3D Model to Pinpoint Earthquakes

Scientists have developed a new 3D model of the Earth to allow them to pinpoint the sources of earthquakes and explosions around the world more accurately than ever. Sandia National Laboratories and Los Alamos National Laboratory partnered to develop a 3-D model of the Earth’s mantle and crust called SALSA3D, or Sandia-Los Alamos 3D. The model uses a scalable triangular tessellation and seismic tomography to map the Earth’s “compressional wave seismic velocity,” a property of the rocks and other materials inside the Earth that indicates how quickly compressional waves travel through them and is one way to accurately locate seismic events, Sandia geophysicist Sandy Ballard said.

Twitter to Solve Traffic Woes

A new method may put an end to traffic woes by collecting information on transportation problems following mass events, like football matches, using tweets made by citizens on Twitter, researchers say. “The ability of social networks to produce information on heavy traffic, road hazards, quality of service of public transportation and more is valuable to decision makers,” said Dr Tsvi Kuflik, the Head of the Information Systems Department at the University of Haifa.

Built using ASP.NET MVC and SQL Server framework, Kohinoor Accounting is application software which processes the daily transactions of business firms. It has wide range of features which are suitable for all kinds of enterprises. Kohinoor Accounting has double entry book keeping system and easy-to-use ledger maintenance. The software can perform VAT reporting, document management, workflow management, normal as well as periodic profit and loss statement reporting of group and sub-groups. Similarly, it can manage complete financial reports like cash/bank summary, day book, journal details, ledgers such as stock ledger, stock ledger with value and stock valuation, trial balance, profit and loss reports, balance sheet reporting and so on. Likewise, inventory management, product and customer wise analysis report, branch wise data entry and reporting can also be done easily using this software. Users can perform search within seconds in just a few clicks as it facilitates easy and fast retrieval of data and information through its search module. Kohinoor Accounting is fully scalable and customizable software which can be used to meet the need of customers. The official price of the software is Rs 25,000. However, KRB Software is offering Kohinoor Accounting at a discounted price of Rs 9,999.

Kohinoor Hotel Management System

Kohinoor Hotel Management is designed to fulfill the needs of data management for hotels. The software is a comprehensive system which is an integrated form of service management, point of sale (POS), hotel

T

reservation, report management, inventory management, front office management, human resource management and account and payroll management etc. Users can manage check-in and check-out of hotel guests, online bookings, house-keeping and track the employee

individually or to a group of students, parents and teachers/staff to inform them on a particular topic. Parents can access the software to monitor the progress of their children. Apart from academic tasks, Kohinoor Academy also generates accurate accounting and MIS reports of educational institutions. The official price of the application system software is Rs 50,000.

Kohinoor Hospital availability and their activities. Kohinoor Hotel Management is web-based application software which provides secured database structure with the authenticated login and multi user system that organizes stores and retrieves information in real-time. Kohinoor Hotel is suitable for all kinds of hotel, motel, inn, guest house, resorts and lodges. This multi-utility software is priced at Rs 100,000.

Kohinoor Restaurant

This management software can help in smooth operation of restaurants. Kohinoor Restaurant is an integrated form of service management, POS and restaurant reservation, report management, inventory management and accounting. The software can manage transaction maintenance, bill and report generation, kitchen order token (KOT) and bar order token (BOT), waiters commission management, periodic schemes and human resource and payroll in a very effective manner. The software can also manage lostand-found belongings of customers. Kohinoor Restaurant carries a price-tag of Rs 25,000.

Kohinoor Hospital is software for managing all operations, financial transactions, doctors, nurses, other personnel, visitors and patients of a hospital. According to the company, the Kohinoor Hospital enhances intra-organisation communication and coordination, increases staff productivity, helps in offering better quality services, improves risk management, optimises revenue recovery, reduces operating cost and eliminates transcription among other benefits. The software also for patient and surgical management, doctor, nurses and patient log in, doctor consultant and their schedule management, inventory management, emergency and ambulance services, patient and staff record maintenance is a web based application. This software also has features such as laboratory and pathology automation, operation room and ICU maintenance, internal messaging system, payroll system and accounting system among others. The developer of Kohinoor Hospital has priced it at Rs 600,000.

Kohinoor Manpower

Kohinoor Academy

Kohinoor Academy is an application designed for the daily academic and administrative operational needs of educational institutions. This software includes a wide range of functional modules and features which are scalable and customisable according to the need of organisations. Kohinoor Academy can effectively manage information of students and teachers, library data and human resource records. Users can schedule or re-schedule all academic activities smartly by using this software. This software helps in generation of routine, results and exam reports with accuracy. It also lets users to print mark sheet, character certificate and identity card. Kohinoor academy can be used to setup students and classes according to the subjects and schedule examinations. It also maintains the attendance of students and teachers. Similarly, users can also schedule school bus routes. Another impressive feature of Kohinoor Academy is the SMS Module, which enables users to send mobile messages

Kohinoor Manpower management application works as an information management system and processes every operation of a manpower enterprise. “We have focused on affordable software that is simple to implement and use,” claims KRB Software. This application keeps track of all applicants, employees, clients and companies. Likewise, it tracks daily transactions, monitors target achievements, account statements, eases follow up of applicants and it can be fully customised to meet the business requirements. According to the company, this application has features such as recruitment process management, complete information management of applicants, tracks status of available workforce recruited for foreign companies, document management, financial reports management, security rights management, multi branch management among others. Kohinoor Manpower can be purchased at Rs 40,000.

Samsung Unveils Smartwatch, New Galaxy Note

he era of smartwatches has arrived. Samsung rolled out its Galaxy Gear smartwatch last Wednesday at an event in Berlin. The company also introduced its new Galaxy Note 3 smartphone and the 2014 edition of its tablet the Galaxy Note 10.1. Samsung's Galaxy Gear smartwatch can make and receive calls, take pictures, run its own apps and has a voice control function that allows users to perform tasks by speaking to the device. To navigate the device, a user can

swipe the screen from side to side and from top to bottom. The smartwatch is seamlessly connected to a Galaxy user's smartphone and shows a user's

updates, like email or texts, on the device screen. Galaxy Gear will launch in more than 140 countries starting on Sept. 25. It will be available in six different colors and will have 10 different preloaded clock options for users to choose from. The company also unveiled Samsung's Galaxy Note 3 smartphone. The smartphone

houses a S-Pen, which helps unlock the functions of the device; Samsung's Knox security system, which helps protect the device from mobile malware; and a new multiwindow feature, which enables users to multi-task easier. The smartphone also features a 5.7-inch display screen, 13 megapixel rear camera, longer battery life, faster LTE and it is available in 10 different colors. Samsung's new high-resolution tablet, an updated Galaxy Note 10.1, is a 10-inch tablet that also syncs with the Gear smartwatch.


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9 - 15 September 2013 (24 - 30 Bhadra 2070 BS)

BRANDSPEAK

BUSINESS BRIEFS

T h i n k i n g

Have a Heritage Sleep, Balaji Now Eyeing on Carpet With almost a decade long experience, the company has become successful to surpass all other international brands.

Panchakanya Group Celebrates 40th Anniversary

Panchakanya Group has celebrated 40 years of its presence in the Nepali industrial sector. On the occasion of its annual Panchakanya Day event on August 31st, the Group organized a program for the celebration. The programme held at Hotel Radisson was attended by prominent figures from the various business and non business communities. The highlight of the program was the launch of the group’s first corporate magazine by Managing Director Pradeep Kumar Shrestha.

Colors Introduces Star 4.0

Colors Mobile has introduced Star 4.0 in its Xfactor series. The handset supports 3G SIM and 3G data connections. Xfactor Star has a 4 inch capacitive touch screen and runs on Android Jelly Bean 4.2.2. The phone is powered by 1.3 GHz dual core processor and has 512 MB of RAM. There is a 3.2 MP rear camera and a 0.3 MP front camera, and the camera comes with LED flash and supports panoramic shot mode. The phone is available at a price of Rs 11,000.

Bajaj’s ‘Dusavatar’

HH Bajaj, the authorized distributor and marketer of Bajaj Motorcycles in Nepal has introduced a new scheme for Dashain and Tihar called ‘Bajaj Dusavatar’. The scheme offers every customer purchasing Bajaj bikes instant cash prizes and weekly lucky draw coupon. The scheme revolves around the number 10, and offers weekly bumper prize of Rs 1,000,000 to 10 winners. Also, the campaign will last for a period of 10 weeks and the scheme celebrates the 10 years of two wheeler market of Bajaj bikes in Nepal. This offer is active from September 1 and is applicable throughout the country.

T o m o r r o w

By Bhawani Timilsina

B

eing one of the popular local brands ‘Heritage’ mattresses is the favourite choice among the consumers. And, if all goes well, the brand is going to be available in also carpet and furnishing products in near future. “Heritage, by its name, reflects that the product is classic. And that we are also exploring business opportunities in carpet and furnishing goods,” says, Hemraj Dhakal, Director of the Balaji Coir Industries Pvt Ltd (BCIPL). The mattress segment is the key component of the BCIPL. The product was introduced in 2004. “With almost a decade long experience, the company has become successful to surpass all other international brands. We have been attempting to assess quality and comfort through heritage mattress, he says. The company imports raw materials from India, Malaysia, China, Bangladesh, Thailand etc. “We design our products according to the requirements and demand of the consumers,” Dhakal said. The company used to import mattresses from India in initial phase. Later the company had to face numerous problems and they decided to start their own production in Nepal. The major raw materials are coconut fiber and latex that adds natural quality to the product. They follow an international technology

Hemraj Dhakal Director Balaji Coir Industries Pvt Ltd

MADE IN NEPAL during manufacturing process to ensure quality. “We have a lab testing facility and with its inception we have surpassed all the other imported products. Nepalis consumers prefer our brand as it assures both quality and comfort,” he claims.

The company has 90 outlets across the country. It also supplies its product to Tibet. The price of the mattresses ranges between Rs 3,500-Rs 25,000. “We have set the price with a view to make it affordable to the people of all classes,” Dhakal said. While sharing the success factors of the brand, he says,

The company has 90 outlets across the country. It also supplies its product to Tibet. The company has been manufacturing four types of mattresses called silver, gold, diamond and platinum (including super platinum). The company claims to have occupied 20-30 percent share of the total market, with product guarantee of five years.

“Our marketing strategy plays an important role to achieve success in this field. Our consumers know how to choose the best products on the basis of quality and durability. We can assure that our product is of best quality, giving high comfort.” He also mentions the

business advantage of the growing sense in the consumers about the advantages and drawbacks of using mattresses. With the tagline ‘all season mattresses’, the product is suitable to use during all seasons, says Dhakal. The carpet market has been slowly and gradually growing in Nepal. “At a time while the Indian products were flooding the Nepali market, our brand helped reduce the import quantity,” he claims. According to Dhakal, around Rs 100 million has been invested in the company. “Though the competition is not tough, it is very essential to adopt changes in the demand. As the market has been growing it becomes very necessary to deal with quality of product.” he said He feels that the consumers will be benefitted from using Nepalis brands that offer guarantee and warrantee services. As per a market survey, nearly 60 per cent market has been occupied by the local product, whereas 40 percent by the international brands.

YSRS in Pokhara

Yamaha conducted its Yamaha Safe Riding Science (YSRS) programme on August 30 in Pokhara College of Management in Nadipur, Pokhara. The programme was attended by 60 participants. The objective of such one-day workshops is to increase road safety awareness for both bikers and pedestrians. This kind of program has been already conducted in more than 12 colleges of Kathmandu valley. The event also featured the test ride of the new reloaded Yamaha FZ-S.

Hyundai’s Festive Offer

Laxmi Intercontinental P Ltd, sole authorized distributor of Hyundai Motors in Nepal has introduced a customer scheme named ‘Dashain Tihar Ko Offer Super Duper Bumper’ for this festive season. Under this scheme, Hyundai customers can get cash discount of up to Rs 500,000 as Super offer, 50 Tola Gold (5 Tola each to 10 persons) as Duper offer, and Bumper prize of two Hyundai Eons through lucky draw.

Head Office: EBL House, Lazimpath P.O.Box 13384, Kathmandu, Nepal Tel: 4443377, 4443863, 4443864, Fax: 977-1-4443160 Email: ebl@mos.com.np, Website: www.everestbankltd.com Swift: EVBLNPKA

Published and Edited by Chairman Madan Lamsal for New Business Age Pvt Ltd, Panchayan Marg, Thapathali, Kathmandu, PO Box: 14197, Tel: 4267717, Fax: 4268726, E-mail: thecorporate@abhiyan.com.np, Regd No : 77/067/68, C.D.R. Postal Regd. No. 72/067/068, Printed at: Jagadamba Press (P) Ltd.


2

9 - 15 September 2013 (24 - 30 Bhadra 2070 BS)

NEPAL LEADERSHIP SUMMIT

T h i n k i n g

T o m o r r o w

PowerSupply:Pre-conditionforEconomicDevelopment

Sher Bahadur Deuba

After the Nepali Congress government was formed following the success of the People’s Movement in 1990, the financial economic situation of the government did not allow us to increase the salary of the government employees. The democratically elected government was not able to take economic reform measures. Even in that

situation, we had managed to take some initiatives on basic sectors like drinking water and health services. Our priorities were to build high schools, health posts and drinking water facilities in each Village Developing Committee (VDC). We had privatized various factories owned by the government and still we hold the view that industries should be run by industrialists and businessmen while the government should focus on other things. The government should build the infrastructure where it is needed. Economic liberalization in the country happened after 1990. As a result, the economic growth was reached to eight percent. However, violence was launched when the economy was gradually reviving. We also had to face interventions from the then King. We have not been able to completely recover from the impact of the war. The Rana oligarchy was

overthrown in Nepal a few years after India got independence from British rule. India went ahead with a system and is now going to be a powerful democratic country. However, we have not been able to come up with a constitution as yet.

There should be an investment climate for theindustrializationofthe country. Energy is a precondition for investment and the establishment of factories. Drafting the constitution of the federal democratic republic is now urgently needed. Last year, we failed to draft the constitution and we all, including me and my party, are responsible for

this failure. We will now draft the constitution at any cost by holding the Constituent Assembly polls, and by rectifying our mistakes. There should be an investment climate for the industrialization of the country. Energy is a precondition for investment and the establishment of factories. Our factories are reeling under a power shortage. Labour unrest has become a perennial problem. How can there will be an economic growth, when there are so many hindrances? Nepal has a huge trade deficit with India. An Indian minister has even agreed to provide duty free access to India for various Nepali products. However, we could not capitalise as long we afford such trade deficit? You can bring investment here in Nepal with partnership with Indian businessmen. This would help mitigate trade deficit in Nepal. Once the elections are

held, a better environment would be forged for investment. I want to put forth a proposal to end the power crisis. You all have a captive power generator in your factories.if you pool all your resources, a big power plant could be installed. The government should give some incentives for such initiatives. We have immense possibilities of harnessing hydroelectricity and we can talk with India to bring in investment for hydro-electricity projects. Unlike a political revolution, an economic revolution takes time. There should be a clear investment policy in the country. Nepal could be a rich country within 5-10 years by selling electricity to neighbouring countries if we bring big investment here. Similarly, we have many sectors like tourism, agriculture, and herbal products through which we can develop the country.

of the nation. We want to focus on economic development at this point. Agriculture should be the foremost basis of economic development of our country. Along with the increase of agro products, we should emphasize on industrialization based on agriculture. Commercialisation of agriculture and industrialization based on agriculture should be our top priority. Similarly, we should make hydropower and tourism the leading sectors for economic development. The vision of a doubledigit economic growth rate and revolutionary economic development for 10 years is possible. After our party officially declared in the Hetauda general convention that we should all

employ our strengths for the development of infrastructure, production and economy, I fortunately got the opportunity to visit our neighbouring countries China and India. While talking with the Chinese and Indian governments, they repeatedly told me that they were ready for the support needed for Nepal’s economic development after the elections are held and political stability is restored. This is the reality of Nepal. This is the requirement of the nation. We need an economic revolution. However, the need for political stability is also equally important. We are heading towards the election for which we are forging a suitable environment. We should take the election as a solid basis for the economic revolution of the country.

of which if we invest NRs 200bn, we can still arrange another 200300 billion form other internal sources. we should be able to bring in another 200 billion from foreign investment. Therefore, it is important to mobilize the national capital as well as foreign investment in order to reach the economic growth of double digit. And if we follow this economic strategy and invest in basic economic infrastructure like electricity, road, airports and social infrastructure like education and health, not only will we witness growth in GDP but also growth in per capita income from USD750 to USD3000. In order to achieve this growth, there also has to be a political commitment, consensus and most importantly, a stable government for five years to govern the country - whether it is the nepali Congress, the UML or the

unified CPN Maoist or any other party. As far as the UCPN (M) is concerned, it is totally committed towards inclusive development to reduce economic and social disparities. Secondly, we have to maintain a stable policy with the two rapidly developing neighbouring countries India and China. We have to turn into an investment pool for these countries in order to stimulate our development. Lastly, we have to eradicate political and institutional corruption and until we eradicate this, there will always be hindrances in development and investment. In order to mitigate this problem, we have to be transparent. Forceful donation has to stop and the system should be able to bring some budget to the political parties which will give rise to a transparent political party system.

‘Timeforeconomicrevolution’

Pushpa Kamal Dahal ‘Prachanda’

Until the political goals are not achieved, economic activities will remain eclipsed during the process. We had to spend many years for the political transformation, which was required. But now, it is high time that we move towards economic revolution.

We made some attempts to drive the country towards an economic revolution when we led the first government of the democratic republic of Nepal. Despite our ambitious plans for economic growth in the country, we did not get the opportunity because unfortunately, we had to quit the government in nine months. The general convention of our party was held recently in Hetauda from where we made an official declaration that we should now adopt the economic agenda of production, distribution and development. We believe that only the party which employs its entire strength for economic development can lead the country to prosprity. Nineteen years ago in a convention, we had said that the political revolution has not been

completed yet and that it needed the abolishment of feudalism and the feudal system. In order to propel the country towards economic revolution, we are now in a historically distinct

In order to propel the country towards economic revolution, we are now in a historically distinct situation to institutionalize the political transformation. situation to institutionalize the political transformation. Despite many ups and downs, now political consensus among major parties is being forged for the economic development

‘Foreign investment required’

Dr Baburam Bhattarai

We have spent a long time focusing on the political revolution and now we need to shift the focus to the economic side. But all we have to understand the interrelation between political and economical revolution. In order to have economic development, we have to trace out our shortcomings

- what are our strengths and what are the hindrances to economic development? One of our major problems is absolute poverty and absolute backwardness, which is the basic weakness in our economic development, and which has led the country to a sluggish pace of development of not more the 2 per cent average growth in 50 years. There has not been much change in the real income level of the people, and this small economic growth is wiped away by the constant population growth. Therefore, we need a vision to see where we will be in the upcoming 10 years. For that, we have to bring in foreign investment and utilize our domestic resources to stimulate economic development During our government, we had focused on taking growth to

a double digit rate. For ten per cent growth rate 40 per cent of the GDP has to be invested. As the GDP being NRs 1700billion we have to invest 700bilion per year. One of the basic sources for

One of our major problems is absolute poverty and backwardness, which is the basic weakness in our economic development it is internal tax revenue - which approximately generates NRs. 300bn out of which NRs. 150bn can be invested fordevelopment - the other source is remittance which is approximately NRs 600bn out


9 - 15 September 2013 (24 - 30 Bhadra 2070 BS)

T h i n k i n g

NEPAL LEADERSHIP SUMMIT

T o m o r r o w

3

‘Agriculture, Regional Market and Infrastructure Development for Economic Prosperity’

Jhala Nath Khanal

Nepal holds numerous potentials for achieving economic prosperity as the country is bestowed with valuable natural resources. Nepal needs to develop various sectors by setting priorities on them. Nepal must promote tourism based economy and we should not neglect the fact that Nepal is suitable for offseason and all season agriculture.

The country has passed through major political changes from 1950s to 1990s. However, these changes couldn’t lay foundation for economic transformation. Therefore, these political changes could not be institutionalised. In 2006 it was a historic change but unfortunately, that too has not been institutionalised yet. The political stability has an important role in establishing democracy, rule of law and optimum utilisation of resources. There are no doubts about the successful completion of upcoming elections on time. Election is a milestone for creating a base for economic development. Every political party must have commitment for polls. And, the upcoming Constituent Assembly election is also a basis for state restructuring. Nepal has to be transformed into a developing country

from the present status of least developed country. If all the concerned stakeholders express determination towards this goal, Nepal can be upgraded into a developing country within a decade. The country had to experience major ups and downs

The agriculture sector can be modernised by establishing research centres and increasing investment among other similar programmes. during the last 15 years. During that time, a huge investment made an exit from Nepal and many industries were closed. Similarly, many industries were announced sick during that period. At present, around 400,000

‘Green Economy for EconomicDevelopment’

Madhav Kumar Nepal

To meet the targets of proposed Economic Revolution Roadmap: Vision 2080, all the concerned parties must be committed. These objectives must be incorporated as economic agenda by all. When everyone is determined for political, economic and social progress, economic revolution is not an unattainable pursuit. But, sustainable economic development is possible only with political stability and rule of law. To establish political stability and rule of law, Constituent Assembly election slated for November 19 must be conducted peacefully. Then the economic development can gain momentum. Our economy is dependent on imports. To lower the high trade deficit, export oriented policies and programmes must be made. Likewise, investment in export oriented industries must be encouraged. For this, internal resources and external opportunities must be well coordinated and productive sectors must be developed. Similarly, employment must be generated through stable and long term investments. For this to happen, government, industrialists and workers must rise above their vested interests and serve the national interest. A favourable environment for running industries and making investments must be created. If these can be ensured, the campaign

to achieve economic development and lifting country from the status of least developed to developing country is not overambitious. There must be committed focus on policy stability, power development, investment in employment oriented productive sector and expansion of the service sector. If we want to build new Nepal and make sure all people are prosperous, we must prioritise certain things first. They could be restructuring the society, overhauling the administrative structure, eradicating social discriminations and anomalies and prioritising the development of skilled human resources. Similarly, the physical infrastructure and power development must be prioritised as the water resource is being wasted.

Investment must be concentrated on infrastructure development. These targets are not unachievable but the only need is of the national commitment and positive thinking. Investment must be concentrated on infrastructure development. Whether it is international airport at Nijgadh or fast track road, they are the basis for economic revolution. Development of agriculture, service sector and tourism industry can make Nepal leap towards economic prosperity within a decade. Similarly, green economy must be prioritised. Criminalisation of politics and politicisation of crime must come to an end. End of corruption and good governance must be ensured. The Birgunj-Pathlaiya industrial corridor development with minimum standards must be declared soon. The concept of Greater Birgunj must be implemented and Birgunj should be announced as the financial capital. Sincere implementation of these initiatives can put Nepal in the path to economic revolution.

people enter into the labour market each year. To provide jobs for them, the agriculture must be mechanised, modernised and co-operatised. Economic development cannot happen without development of agriculture. The agriculture sector can be modernised by establishing research centres and increasing investment in addition to other similar programmes. If the agro productivity can be increased, Nepal can achieve economic prosperity within a short time. Nepal is a country with more than 30 million population. If China in the north and South Asia are considered, the population accounts to almost half of the global population. thus there is a huge market for us next door. We do not have to look at Europe, USA or Australia in search of market. If we can tap this market by enhancing our

capacity to produce products with competitive advantage in these markets, we can progress towards prosperity within a short time. Nestled between India and China, Nepal must devise its economic strategies, policies and programmes to explore the benefits of this unique geographical position. Similarly, we must revise our economic diplomacy. Development of physical infrastructure is another integral part of achieving economic development. Physical infrastructures such as mid-hill highway, international airport at Nijgadh and north-south highways to connect China and India must be given prime importance. Similarly, social infrastructures such as hospitals and universities too must be taken into high consideration. With these infrastructures, we can push the country towards development and prosperity.


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9 - 15 September 2013 (24 - 30 Bhadra 2070 BS)

NEPAL LEADERSHIP SUMMIT

T h i n k i n g

Nepal Leadership summit 2013 Roadmap of Economic Revolution: Vision 2080 BS

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T o m o r r o w

www.abhiyan.com.np

Aarthik Abhiyan Daily

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Birgunj Declaration September 5, 2013

MEDICLAIMINSURANCE

BRIEF Nepal Leadership Summit at a Glance Participants Former PMs n n n n n

Sher Bahadur Deuba Pushpa Kamal Dahal ‘Prachanda’ Madhav Kumar Nepal Jhala Nath Khanal Dr Baburam Bhattarai

Organizer

Birgunj Chamber of Commerce and Industries

Management

New Business Age Group

Outcome

Former PMs singed a 12-point agreement vowing to let private sector lead the country’s economic front

Why Birgunj?

Because Birgunj is one of the major trade hubs of the country and BirgunjPathlaiya corridor has been suffered from political volatile situation. So, it would be better to seek commitment from PMs at the same place.

Major Issues Raised n n n n n n

Political Instability Need of economic revolution Promotion of tourism Commitment for hydropower Agriculture focused development Inclusive growth

Feedback

It is indeed a good initiative that politicians signed a 12-point declaration. But signing is just a beginning. We should regularly put pressure on politicians to stick to their commitment in days ahead. The agreement should be translated into action. We want sincere commitment from former PMs and their respective political parties. - Ashok Baidya President, BiCCI The programme is a very successful event since it was successful to bring politicians from different ideologies into a single platform. Also, it help reenergize discourse of making Birgunj a major industrial hub of the country. - Rabindra Kr Baranwal Secretary, BiCCI The event will have a very positive impact on country’s economy. Commitment from top guns of major political parties for the economic development of the country will help boost morale of business community. - Prabesh Pandey, Banker

National Insurance Company Ltd We also insure cattle, livestock & crop.

Country Office: Tripureshwor, KKM building, P.O.Box: 376, Kathmandu, Nepal Tel: +977 1 4260366, 4250710, 4266681, 4254045 Fax: +977 1 4261289, 4266682 Website : www.nicnepal.com

Whereas Nepal has now entered the phase of Democratic Republic as a result of several political agitations and there has been a national consensus that the main agenda of the country should be economic revolution, we former prime ministers of Nepal assembled in this “Nepal Leadership Summit” organized by Birgunj Chamber of Commerce and Industries (BiCCI) with help from Aarthik Abhiyan Daily, pledge our commitment to following common points: 1.

We commit to give priority to the national economic agenda above our respective party agenda for the protection of overall national interests while making any individual and party level decision.

2.

We commit to discuss national economic agenda within our respective parties in a democratic manner and through that forge a consensus of all parties in the development of a common economic agenda of the country.

3.

We are committed to bring to an end the existing uneasy industrial relations and to maintain a peaceful industrial situation for industrial development of the country.

4.

We are committed to bring out new labour policy and industrial policy conducive for overall national interests and industrial development.

5.

We are committed to make Nepal free from the problem of power outage by removing the obstacles faced in the generation and supply of electricity.

6.

We are committed to secure individual property rights of the people.

7.

We are committed to create an environment conducive for attracting investment by discouraging all the activities that may disturb the investment climate.

8.

We are committed to uplift Nepal from the current status of a Least Developed Country within the coming 10 years by removing the prevalent poverty and inequality and by achieving high economic growth rate.

9.

We are committed to internalize that the private sector has to play the leading role in the economic development.

10. We are committed to get Birgunj-Pathlaiya corridor officially declared an industrial corridor that fulfils a set of specified standards. 11. We are committed to get Birgunj recognised as the economic capital of the country. 12. We are committed to transform Birgunj town into Greater Birgunj.

Continuedfrompage1

Time for... He stressed for a common commitment to end the existing energy crisis. “The country will head in the direction of economic prosperity if we will be able to address the problem of infrastructure, industrial security and energy,” he added. Nepal should attract Indian investment and should promote export to reduce trade deficit, he opined. He said, that the government should reduce all bureaucratic hassles and should vow to provide tax rebate to companies which create employment opportunities to more than 100 persons. The country’s economy remains in a state of confusion, with expanding budget, energy crisis, trade deficit, inflation, unemployment problem and lack of resources, said former Prime Minister and CPN UML leader Madhav Kumar Nepal. He blamed the revenue-centered government, short-term profit oriented private sector and belligerent labour for the slow economic growth. “We need to improve our educational system and ensure that we have the skills to pursue the opportunities,” he said. He suggested that clarity in policy, investment friendly environment and investment in service and production sector will ensure country’s development. Chairman of CPN-UML and former PM Jhala Nath Khanal emphasized the need of policy stability for the economic growth. Modernisation of agriculture sector will have positive impact for the development, he said, adding that the banking sector should increase investment in the agricultural sector. Absolute poverty and backwardness are main problems of the country at present, UCPN Maoist leader and former PM Dr Baburam Bhattarai said. The country can achieve the target of 10 per cent growth by increasing investment in productive sector, he opined. “Key factors that affected all sectors of the economy are poor governance and corruption in the country. One of most

important negative factor is decline in investment to GDP ratio, which is one the of the root cause of the slowdown in GDP growth,” Dr Bhattarai said. “At least 40 per cent amount of GDP should be invested every year in productive sector to achieve the double digit growth. This means, the government should ensure that at least Rs 700 billion is invested. As internal resources will not be sufficient to arrange this fund, we should invite foreign investment,” he added. Dr Bhattarai call for a need to build capacity at all levels to meet the target. “We need to make the building of robust private sectors an urgent priority and promote true entrepreneurship because that is how jobs are created,” he added. He said that Nepal must focus on developing its skills and human resources, especially by harnessing the talents of Nepali people from around the world. He also suggested all political parties to keep balance between China and India for maximum benefit from the neighbouring economic giants. President of Birgunj Chamber of Commerce and Industries Ashok Baidya, said that political commitment is a must to create an environment of wealth creation through investment, alleviate poverty, increase the annual GDP growth rate, contain inflation, promote entrepreneurship and generate employment. In the programme, editor-in-chief and chairman of New Business Age Group Madan Lamsal asked politicians to address economic concerns and map out a strategy with business community and international support to address country’s economic problems.

Korean Company... Similarly, tree cutting approval has been received and land acquisition has already been done, it adds. “The project, once completed, will help in reducing daily load shedding by three to four hours,” said CEO of NWEDC Kim Kyung Sik. NWEDC is predominantly a South Korean group of three companies with 75 per cent of the total equity share,

which includes Korea South East Power Company Ltd (KOSEP), Daelim Industrial Company Ltd, and Kyeryong Construction Industrial Company Ltd. The International Finance Corporation (IFC) has joined as a codeveloper for the project while Daelim and Kyerong will be the Engineering, Procurement and Construction (EPC) contractor. The operation and maintenance will be done by KOSEP. Sik said, “This is a reason for hope and optimism in the midst of serious crisis that has debilitating effect on Nepal economy. The project once completed, will help reduce daily load shedding by 3 to 4 hours. We are maintaining a good relation with the local people and with the administration. They are very much interested in the project and we are thankful for their support and cooperation.” The successful completion of the project means technology transfer of operation and management, employment creation of 300 to 500 people for construction, substituting annually diesel imports equivalent to 20 million US dollar and helping grow Nepali economy, he added. The Upper Trishuli-I project will be one of largest hydroelectric power project in Nepal in terms of investment. It will increase existing hydro-electric generation capacity in Nepal by almost one third (216 MW), and will add around 50 per cent (1455 GWh) to the annual electricity generated in Nepal. “It will help meet the huge unfulfilled demand of electricity in Nepal. We have a strong and committed list of sponsors for the project, which bring together a mix of local understanding and technical competence of setting up similar projects in other parts of the world,” Sik said. “The project will help in attracting International investors in Nepal’s hydropower development, including South Korean Investors. It will also help to further strengthen the cordial relationship between Nepal and South Korea. We look for forward Nepal Electricity Authority’s support in future,” he added.


9 - 15 September 2013 (24 - 30 Bhadra 2070 BS)

T h i n k i n g

NEPAL LEADERSHIP SUMMIT

T o m o r r o w

5

Glimpses of Nepal Leadership Summit

Former Prime Ministers Sher Bahadur Deuba (right) and Jhalnath Khanal exchanging their views

Former PM Madhav Kumar Nepal signing the Birgunj Declaration

Prachanda (right) shakes hands with Madhav Kumar Nepal

BiCCI family during the event

Guests present at the Nepal Leadership Summit

Photos: Rukesh Shrestha/TC

Editor-in-Chief & chairman of NBA Madan Lamsal addressing the dignitaries

BiCCI president Ashok Baidya

Maoist leader Dinanath Sharma (second from the right)


9 - 15 September 2013 (24 - 30 Bhadra 2070 BS)

T h i n k i n g

NEPAL LEADERSHIP SUMMIT

T o m o r r o w

5

Glimpses of Nepal Leadership Summit

Former Prime Ministers Sher Bahadur Deuba (right) and Jhalnath Khanal exchanging their views

Former PM Madhav Kumar Nepal signing the Birgunj Declaration

Prachanda (right) shakes hands with Madhav Kumar Nepal

BiCCI family during the event

Guests present at the Nepal Leadership Summit

Photos: Rukesh Shrestha/TC

Editor-in-Chief & chairman of NBA Madan Lamsal addressing the dignitaries

BiCCI president Ashok Baidya

Maoist leader Dinanath Sharma (second from the right)


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9 - 15 September 2013 (24 - 30 Bhadra 2070 BS)

EDITS & OPINIONS

EDITORIAL

T h i n k i n g

There is no Investment Friendly Environment

Nepal Leadership Summit

I

t is not easy to envisage country’s bright economic future after 10 years of instability. In fact, country’s existing economic indicators are not very much positive though it has tremendous potential to take the path of progress and prosperity. Industrial growth has been hanging near zero percent, the investment rate has declined, inflation is high, industrial growth is badly affected due to the energy crisis, causing companies to struggle on how to run businesses without a reliable source of electricity. In the aforementioned situation, collective effort is a must to achieve the double digit growth. New Business Age group and Birgunj Chamber of Commerce and Industries (BiCCI) tried to find out a common solution for the existing economic slowdown. The NBA group and BiCCI jointly organized Nepal Leadership Summit: Roadmap of Economic Revolution: Vision 2080 BS in Nepal’s renowned industrial city Birgunj last week. Nepal’s five former Prime Minister since 1990 expressed their views on Nepal’s economic development. They also signed a 12-point Birgunj declaration showing their commitment to the economic revolution in Nepal giving private sector a leading role. The summit was historic in many respects. First, the summit was successful to bring together Nepal’s five former Prime Ministers who represent various political parties in a platform to discuss important economic issues. Second, it sought former PMs visions and agendas to address country’s existing adverse economic issues ranging from labour unrest to power deficit. Third, the summit also tried to figure out differences among politicians and make them convinced for the economic prosperity of the country. Last but not the least, politicians signed a 12-point pact showing their commitment to the long term economic development of the country which will be remembered as the Birgunj Declaration. It is a fact that commitment is not enough. Leaders should be ready to translate their commitment into action. There is still a long struggle ahead when it comes to engaging the government to revive the Nepali economy. The country has yet to address economic concerns and map out a strategy with business community and international support to address country’s economic problems. In a positive sign to the country’s economic prosperity, all leaders pledged not to politicize economic agenda. They also stressed that Nepal is in a dire need of economic revolution after various political changes. Regardless of their political ideology, all leaders agreed to let private sector lead the country’s development and acknowledged the government’s role as catalyst. Nepal should focus on turning the optimism about the country’s future into real action. The mood should be changed from thinking of Nepal as a poor country to as a country that holds hope. It is a difficult task to implement the 12-point Birgunj Declaration but not impossible. One thing is for sure: ‘United we stand: divided we fall’. The need of the hour is sincere commitment from all political parties to drive the country into prosperity.

CORPORATE HUMOUR

Punctual CEO! This Nepali airlines is known for its punctuality. The CEO is very particular about the timing especially that of the pilots. For last one decade, Captain Dhiraj had arrived at work at 9 A.M. on the dot. He had never missed a day and was never late. Consequently, when on one particular day 9 A.M. passed without Dhiraj’s arrival, it caused a sensation. All work ceased, and the CEO himself, looking at his watch and muttering, came out into the corridor. Finally, precisely at ten, Dhiraj showed up, clothes dusty and torn, his face scratched and bruised, his glasses bent. He limped painfully to the time clock, punched in, and said, aware that all eyes were upon him, “I tripped and rolled down and nearly killed myself as I slipped on the slippery road of Baneshwor because of rain last night.” And the CEO said, “And to roll down just two kilometers of road it took you a whole hour?” Now go to the plane as you are and fly to Biratnager as passengers are waiting. As soon as you fly back to Kathmandu go to office and submit your resignation. -ML

T o m o r r o w

This country is functioning for the past six years without any long term plans. By Madan Lamsal

D

ignitaries present in this Nepal Leadership summit are much concerned over economic future of the country. But the vibes of this positive thinking has not been circulated to the common people. This platform intends to reach to those people with a hope to develop a common economic commitment. It has already been late to discuss about country’s economy because its growth barely hovering over 3 to 4.5 per cent in last three years. Entrepreneurs and businessmen along with the capital and human resource are moving abroad in large numbers. There is no investment friendly environment in our country. There is a public blame over the government’s indifferent attitude towards the economic agenda. It is now important for a common and practical mindset regarding the economy.

Challenges of Nepali Economy

Productivity of the economy is declining and new investment is almost zero. Alarmingly, annual trade embalance is

Rs 479 billion and inflation is approximately 10 percent. Nearly, 500 thousand youths are going abroad for employment and the number of those going for education and other purposes is critically high. Nepali currency depreciated by 22 per cent in last six months. Hydel projects are the victim of indecisiveness and are politicised. This country is functioning for the past six years without any long term plans. The air of uncertainty and the fear have not receded.

People’s expectations from Leaders

People are tired of opinions and blame game. Now they want a clear and common commitment to solve the existing problems and its immediate implementation. There should not be any disagreement over the common problems.

Right Time

This is the right time for a common commitment because political parties are gearing high in preparing their manifesto. There is an expectation to make the country federal. It may take time, there might be differences but constitution would be drafted and there would be political outlet. However, the days without economic progress are the

days squandered. Result is what we are desperately seeking now.

The Clock is Ticking

We should quickly act on it because the state can’t remain without long term plans for infinite period. It has been imperative to develop a national concept about the local currency peg with the Indian currency. Remittance income has not been able to utilised in productive sector. Thus, there is no alternative to make Nepal’s economy as a part of world market system. It has been imperative to provide relief to the people and industrial sector by ending energy crisis. Economic literacy is must for the political parties. And it is necessary to spread the message of industrial sector’s progress.

The way Ahead

The way ahead is co-operation. An initiative has been taken in this summit and it has to be strengthened. We are making a common commitment for coming decade. And this is not a formality but a necessity. Let’s adopt and implement it. (Views expressed by Lamsal in the Nepal Leadership Summit)

PoliticalCommitmentNecessaryforDevelopment The major reason behind economic problems is political instability and inconsistent policies. By Ashok Baidya

W

e have made an effort to bring the former prime ministers in the same platform for a meaningful dialogue and discourse on country’s overall economic development. This is probably a first of its type in the history of Nepal. I am really delighted to welcome the former prime ministers, who are at the helm of the country, in Birgung- a city known as the main entrance as well as the economic capital of the country. We are not going to hold a political debate by bringing top leaders of the political parties in this economic and industrial hub. Rather, we are seeking a political commitment for the nation’s economic development. Water, as a form of white gold, is flowing from our rivers. Provided that we utilize this water, we can easily get rid of the chronic power deficit. This will also ensure high economic growth, trade balance and earning of foreign currencies. However, instead of considering the hydropower as a matter of business, it’s a bitter reality that hydropower projects are facing political hindrances. On the other hand, Nepal is projected as a best destination for tourism by United Nations including other international organizations. However, the number of

VISUAL EDIT

tourists in our markets has not exceeded one million per annum yet. The major reason behind all these economic problems is political instability and inconsistent policies. It is obvious that there exist of many political parties with diverse orientations in a country with multiparty democratic system. But complete and frequent changes in the whole policy resulting from the government changes is

If production is to be increased and investment is to be lured, a high level consensus is imperative on the fundamental issues of the economy. rarely see in any other country. The investors shy away from investing in the countries with instable politics and economy. Apart from these problems, our country is reeling under the power deficit and labour unrest, among other economic ordeals. Despite a high minimum wage compared to other South Asian countries, Nepal is yet to observe the normalcy in the labour sector. Thus, if productions are to be increased and investment is to be lured, a high level consensus is imperative on

the fundamental issues of the economy. I would like to request to all former prime ministers from this forum for a common agreement on the fundamental agenda of the economy. Birgunj is a strong pillar of our economy. 70 per cent of country’s total industrial investments are in BirgunjPathlaiya corridor. But the government has inflicted injustice to the BirgunjPathlaiya region by not declaring this region as an industrial corridor. Along with a demand to declare this region as industrial corridor, we demand with the government that Birgunj be declared as economic capital. We have also brought a concept of a greater Birgunj to develop this city as the country’s economic capital. The concept brought for the overall development of Birgunj aims to increase the economic and industrial activities at a high rate and build infrastructures to the par of complete metropolitan by 2080. I would like to request former prime ministers to realize the importance of this comprehensive plan and act towards materializing it. This program would not been a success without the participation of prime ministers. I would like to thank you from my inner heart for your presence. (Views expressed by Baidya during Nepal Leadership Summit.)


9 - 15 September 2013 (24 - 30 Bhadra 2070 BS)

T h i n k i n g

LEARNING CURVE

T o m o r r o w

NEWS IN BRIEF TU, IoM Published Results of Entrance Examination 2070 Bachelor Level Entrance Examination Committee 2070, Examination Control Division of the Tribhuvan University and Institute of Medicine (IoM) Dean’s Office publishes the results of following programmes (B.Pharma, B.Sc. MLT, B.Sc. MIT, B.Optom, BASLP, B.Sc. Nursing, BAMS and BDS) for the academic year 2070/2071 (2013 AD) conducted on 16 Bhadra 2070 (1 Sep 2013). MBBS Entrance 2070 results have been also published.

BTC will Provide 10 per cent Scholarship to Students The British College (BTC) has decided to provide 10 percent scholarship to students. The college took the decision during the discussion held among the college advisory committee. According to Rajan Kandel, Chief Executive Officer (CEO) of the college, the decision will certainly help in maintaining the relation between Britain and Nepal. “The discussion was focused on the future strategies and British visa as well,” he says. The college informed that students from six different countries are currently studying in the college. The advisory committee of the college includes Lord Sandwich, an elected hereditary peer in the UK House of Lords (upper house), Dr Chiran Thapa, Dr Arjun Karki, among others.

MoE Prepared New Provision for SLC Appearing Students Ministry of Education (MoE) has drafted a new provision for School Leaving Certificate (SLC) appearing students from this year onwards. According to the MoE, SLC appearing students will have to make illiterate people literate taking literacy classes has been taken by to accomplish the goal targeted under the literary campaign. As per the new provision, each student should make three illiterate persons literate to obtain ten marks. The total number of illiterate persons comes from an age group of 15-60.

NCC Celebrated Golden Jubilee Nepal Commerce Campus celebrated golden Jubilee on September 3 at the college premise. Chairman of the interim election government, Khil Raj Regmi and Education Minister Madhav Prasad Poudel were present in the programme. On the occasion, Regmi said that the government is planning to increase budget in higher education sector in coming days.

Interaction Programme @ Tourism & Hotel Management College Nepal Tourism and Hotel Management College at Pokhara organized an interaction programme on ‘Role of Management Education’ on September 4. Speaking at the programme Prof Ujjwal K Chowdhury, former Dean of the Symbiosis International University of India and Senior Consultant of The New Business Age Pvt Ltd said that the education system should not only be based on theoretical knowledge but it should follow investigative system. He said, “Management Colleges should focus on job viability rather than on the quantity of the students.” Ambassador of Sri Lanka to Nepal WM Senevirathna talked about the feasibility of tourism and hotel business in Nepal. According to the Ashok Palikhele, chairperson of the management committee of the college, such interaction programmes helps in sharing knowledge.

7

‘The new media has impacted the journalism teaching and training’ Martin Huckerby is a well known British Journalist with wide experience as a reporter and news editor on top UK newspapers. In these fifteen years, of career he has worked as an editorial consultant, advising news organizations and training journalists around the globe. He was editor of The Prague Post, the English-language paper of the Czech Republic (1992-96), foreign news editor of The Observer, London (1989-92) and reporter and news editor at The Times, London (1972-86). Currently, he is in Nepal to provide investigative journalism training. He shares his experiences as a trainer with Siromani Dhungana and Sanjeev Sharma of The Corporate. Excerpt:

HEAD-TALK

away quickly. In western countries, traditional media are still making profit. However, it is a fact that new media has made them less profitable. The financial crisis and the rise of digital media have slowed the pace of advertising into the traditional media. Thus, we can say that the media particularly in the west, is facing a situation of double whammy. The digital revolution has brought a massive change which the traditional media are adapting to gradually. The new media has also impacted the journalism teaching and training. There are a whole lot of materials to study in the web. One can get training from anywhere from any part of the world. However, I think the level of interaction between trainer and the trainee during the online training is somewhat limited.

I think while writing news, journalists should try to explore ways to make the issues more attractive and interesting. Every journalist should be aware of the need of readers or viewers.

How do you assess the current scenario of business journalism throughout the world?

What to you exactly do at Thompson foundation?

I am simply a consultant, an outsider in Thompson Foundation. I am an independent media consultant/trainer and a journalist. I have been working closely with Thomson Foundation since last couple of years.

You are a renowned journalism trainer at present? What excites you about the training?

If people benefit from the training it is always a pleasure for me. It is actually a sense of putting the opportunities I’ve had or things I’ve learned to passed on to other people who want to use them. The other nice thing about being a journalism trainer is the opportunity to go to other countries and meet different people, which is very interesting part of my job.

What are the most important things you want to pass on to the participants of the trainings?

It varies from countries to countries. It is important to tell whatever you are doing in the particular environment and in a particular political situation. For instance, I had been in Nepal and South Africa as a trainer last year to train journalists. I found that the environment was totally different in South Africa compared to Nepal. Choice of topics, issues and approaches in trainings varies from place to place.

What are the basic skills you want to pass on to the journalists in general?

There are many skills that you can use as a journalist. I wouldn’t say that there are specific skills to pass on. I think we are in a business of opening people’s eyes and making them realize that there are different ways of approaching their jobs according to the norms on their organization or countries. We basically try to train journalists about the different ways of approaching issues and topics. I divide news into two broad categories- news that is important to people and news that they are interested in. I think while writing news, journalists should try to explore ways to make the issues more attractive and interesting. Every journalist should be aware of the need of readers or viewers. Talking about Nepali media sector, in 20 years there has been pretty amazing and tremendous progress. With relatively low level of trainings, Nepali journalists made their way pretty amazingly.

There is a rapid change in media technology these days. What changes have new technology brought to the media landscape?

I think the change and impact brought by technology is very vast. Use of technology has made a constant change in all types of media. Most are faced with the future which is incredibly unclear. I remember a conversation with one of the top digital news official in the BBC a few years ago. During the conversation, he told me that now we should try fast and kill fast. He was

referring to their work style, and the fact that the news ideas are coming very quickly from various sources through different media. And if they don’t find those news to be useful they would be ‘killed’ or thrown

I can’t make many intelligent comments about the particular topic as I am not an expert in business journalism. However, I do compare business and financial publications of different countries. I would say that business journalism varies considerably in different countries and different aspects should be considered while writing business news. I mean to say that the impact of different business, financial and economic events in everyday life of people should be highlighted in the first hand.


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9 - 15 September 2013 (24 - 30 Bhadra 2070 BS)

MONEY MATTERS

T h i n k i n g

NEWS IN BRIEF

Weekly Gold and Silver Price

T o m o r r o w

US Dollar Exchange Rate at Local Market

Everest Bank’s Mobile ATM Facility Everest Bank Limited began a mobile ATM facility. As per this facility, customers do not need to go to branch to get the banking services of the Everest Bank. The customers can get the payment from the designated bank representative. The Bank said that they have their designated representatives across the country. According to the press release of the bank, customers can also open their bank account from the designated representative. Everest Bank has introduced the concept of branchless banking service for the first time in Nepal.

Siddhartha Dev Bank’s ‘Home Loan Scheme’

Siddhartha Development Bank brought a ‘SDBL Home Loan’ scheme. The Bank said it has brought the scheme to fulfill the dream of every citizen to have their own home. The Bank informed that it will extend the maximum loan up to Rs 10 million to purchase home and apartment as well as to build the home.

Kailash Proposes 19 per cent Dividend

Kailash Development Bank Ltd said it will distribute 19 per cent dividend from the profit earned in the Fiscal Year 2012-13. The meeting of the Board of Directors (BOD) held last Wednesday decided to recommend distribution of 10 per cent bonus share and 9 per cent cash dividend. The Bank has collected Rs 6.26 billion deposit and extended a total of Rs 5.5 billion as loans in the Fiscal Year 2012-13. It informed that it has earned Rs 152.6 million net profit in the review period.

Discount on Infrastructure’s Locker Infrastructure Development Bank Ltd said it will provide the free locker facility for a year to the customer opening bank account on ‘Naari Samriddi Khaata’. The Bank said it is providing this facility on the auspicious occasion of Hindu women’s festival Teej. The Bank, which merged with Swastik Merchant Finance Co Ltd last year, is providing banking services to its customers through 18 branches.

Laxmi Bank’s branch at Kohalpur

Laxmi Bank Ltd opened its branch at Kohalpur in Nepalgunj. The branch started its operation from last Monday. The number of the Bank’s branches has reached 33 with this newly opened branch. The Branch’s Manager Rima Malla informed that the branch will offer ATM, internet banking, mobile and other services.

Bhrikuti Development Enters 10th Year Bhrikuti Development Bank Ltd headquartered in Butwal entered 10th year last Tuesday. The Bank had started its operation on September 3, 2004. The Bank’s paid up capital that started with Rs 10.5 million has now reached Rs 353.1. The Bank has expanded its services to 10 districts. The Bank said that the deposit amount of the bank has reached a total of Rs 4.30 billion and extended a total of Rs 3.21 billion as loans until the end of the Fiscal Year 2012-13. The bank has earned Rs 110 million profit.

Om Finance to Distribute 21 pc Dividend Om Finance Ltd headquartered at Pokhara said it is planning to distribute 20 per cent bonus share and 1 per cent cash dividend. The Finance’s Annual General Meeting will decide to distribute a total of 21 per cent dividend after getting the approval from the Nepal Rastra Bank, according to the press statement released by the General Manager of Om Finance last Monday. Malla informed that the paid up capital of the Finance will be of worth Rs 325.7 million after distributing the dividend.

Source: Nepal Gold and Silver Dealers’ Association

TopTen Gainers Rank 1 2 3 4 5 6 7 8 9 10

Source: Nepal Rastra Bank

Top Ten Losers

Company Oriental Hotel Life Insurance Co Muktinath Bikas Bank Gandaki Bikas Bank Premier Insurance Co Himalayan Gen.Insu Excel Development Bank Karnali Development Bank Nepal Credit & Com Bank Citizen Investment Trust

Op. 140 1350 335 116 181 333 291 88 280 1420

Hi. 162 1514 365 126 218 417 318 96 295 1500

Lo. 140 1316 329 114 169 309 286 83 275 1400

Cl. 162 1500 365 126 196 360 309 93 295 1490

Diff. 22 150 30 10 15 27 18 5 15 70

Chg. % 15.71 11.11 8.96 8.62 8.29 8.11 6.19 5.68 5.36 4.93

Rank 1 2 3 4 5 6 7 8 9 10

Company Alliance Insurance Co Siddhartha Insurance Jyoti Bikash Bank Shine Resunga Development Bank Subhechha Bikas Bank Gaurishankar Development Bank Kasthamandap Development Bank Sewa Bikas Bank Lumbini Finance Nilgiri Bikas Bank

Op. 283 370 88 239 115 105 76 116 139 162

Hi. 291 370 88 241 115 105 76 116 139 165

Lo. 241 330 77 216 104 91 70 104 129 151

Cl. 241 332 79 216 104 95 70 107 129 151

Diff. -42 -38 -9 -23 -11 -10 -6 -9 -10 -11

Chg. % -14.84 -10.27 -10.23 -9.62 -9.57 -9.52 -7.89 -7.76 -7.19 -6.79

Nepse Falls 5.08 Points By Sagar Ghimire

was followed by Other, Commercial Bank, Development Bank and Trading to observe decline respectively. The Manufacturing and Production sector remained unchanged in the sub-index. The Insurance sector increased the highest by 6.75 points in the share markets last week. The Insurance opened at 1231.49 points and closed at 1238.24. Except Insurance, there was increment in Hotel, Trading and Finance sectors also. Of the individual companies, Nepal Bangladesh Bank (NBB) topped the index in terms of transaction amount, number of shares and number of transactions. The Bank made Rs 866.18 million as

N

epal Stock Exchange (Nepse) index fell 5.08 points last week. It had closed on 551.55 points on Sunday (September 1) making a record of six-month to cross 500. However, it plunged to 546.55 at the end of the trading day on Thursday (September 6). Shares of 141 companies were traded in the market floor during the week through 9400 transactions, which amounts to Rs 2.097 billion. The market floor was opened on Sunday (September 1) for five days during the week. The transaction amount of ‘A’ class companies only accounts to 41.98 per cent, which equals to Rs 881.46 million. The transaction amount is 140.47 per cent higher compared to the amount of previous week, when the shares of 131 companies were traded through 8234 transactions amounting to Rs 872.19 million during four trading days. Among the sub-indices, the Hydropower sector has decreased heavily by 39.32 points closing at 1274.67. The Hydropower sector Days Sun Mon Tue Thurs Changes

Sectors Com. Banks 535.22 532.44 536.72 534.95 -0.27

Mfg. & Pro. 886.41 886.41 886.41 894.4 7.99

Hotel

Others

Hydro

670.86 669.68 682.60 672.03 11.07

670.86 1205.13 669.68 1224.58 682.60 1250.36 672.03 1303.35 1.17 98.22

Trading

Insu.

172.23 1220.58 172.23 1210.73 172.23 1218.06 172.23 1215.66 0.00 -4.91

Finance 263.46 263.83 264.40 263.98 0.52

Dev. Banks 279.23 279.07 280.95 281.17 1.93

Nepse Index 548.11 546.74 552.24 551.44 3.33

Source: Nepse

NB’s Non Performing Loan Goes below 2 pc

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epal Bangladesh Bank Limited informed that it has now less than 2 per cent as non performing loans. Releasing a press statement last Wednesday, the Bank informed that the non performing loan would decrease since it has received the payment of 29,14,012 units of promoters shares worth Rs 763 million from the Bangladesh based IFIC Bank. The Bank said it will utilize Rs 250 million

BOK Earns Rs 617.1 Million Profits

B

ank of Kathmandu (BOK) earned Rs 617.1 million net profit in the Fiscal Year 2012-13. Stating that the Bank has earned satisfactory profit in the FY 2012-13, the meeting of the Board of Directors (BOD) held last Wednesday decided to recommend 0.736 per cent cash dividend and 14 per cent bonus share. The Bank’s total deposit has reached Rs 27.70 in the review period and it extended a total of Rs 23.5 billion as loans.

out of the total payment to pay off the loans of different banks and financial institution taken by the NB Bank against the collateral of NB Bank’s shares, while remaining amount would be for recovering loans taken by its Nepali directors. The Bank claimed that the loans by the directors that was counted as the non performing loan, would be recovered now which would decrease the total nonperforming loan.

Upadhyay Appointed Kumari Bank’s CEO

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he meeting of the Board of Director (BOD) of Kumari Bank Limited held last Thursday appointed Udaya Krishna Upadhyay as the Chief Executive Officer (CEO) of the Bank. Upadhyaya, who has 28 years of experience in the banking sector, had joined Kumari Bank four years ago as Deputy General Manager. He was working as Acting CEO for last two years before being appointed as the CEO for a four-year term.The bank and the board members has congratulated newly appointed CEO Upadhyay and extended best wishes and support to take the bank to a newer height during his tenure, according to a press release issued by the Bank.

Nepse on Sunday

Nepse index increased by 5.52 points closing at 552.01 on Sunday, September 8. The share market saw a total of 235.1 million turnover through 1917 transactions of 96 companies on the first day of the market floor for this week. Banking, Development and Hydropower sectors’ sub-indices increased, while Finance, Insurance and Others sectors observed a decline in the share market. The Hydropower sector surged highest by 30.32 points with closing on 1304.99, while Insurance continues plunged the most (1.54 points) with closing on 1235.8. The stock of Premier Finance Co Ltd- ‘PFCCLL’- has been resumed on Sunday at a trading rate of Rs 168 after the merger process with the Imperial Finance was cancelled. a total transaction amount through 543 transactions. The total number of Bank’s shares traded during the week was 3,206,380. Nabil Bank was on the second in the index to have the highest transaction with an amount worth Rs 397.70 million. During the week, 1,292,061 bonus shares of Sagarmatha Insurance Company, 53,747 of Salt Trading Company, 104,835 of Goodwill Finance and 139,466 bonus shares of Neco Insurance Company were listed in the Nepse. Similarly, 1,555,000 units of additional share were also listed during the week.

15 pc Bonus Share by Arun Valley

A

run Valley Hydro Power Development Company Ltd decided to distribute 15 per cent of bonus share and 0.75 per cent of cash dividend. According to the press statement released by the Company, the 16th Annual General Meeting of the Company held recently also decided to authorise the Board of Directors (BOD) to issue rights share at 1:1 ratio. The company has said it has already signed a Power Purchase Agreement (PPA) with Nepal Electricity Authority for Kabeli-B1 Hydropower project of 25-megawatt capacity and Upper Piluwakhola Project of 9.6 megawatt capacity. It has informed that it is taking ahead the Kabeli-B1 project with utmost priority. The AGM has elected Guru Prashad Neupane, Ramesh Prashad Neupane, Bachchha Raj Tater, Jeevan Raj Shakya and Puja Neupane for the Board of Directors. Likewise, Sanjeev Neupane and Bhej Prashad Timilsina too have been elected unanimously for t he board.


9 - 15 September 2013 (24 - 30 Bhadra 2070 BS)

T h i n k i n g

FOCUS

T o m o r r o w

BRIEFS CAN SofTech Boosts Software Industry

The sixth edition of CAN SofTech-2013 kicked off with an aim to bring together national and international ICT related companies under a single roof at the Exhibition Hall in Bhrikuti Mandap, Kathmandu from September 4.The event came up with the slogan "Converging to e-life" which suggests the event to be extensively based on various e-solutions and services. Keeping in mind the increasing demand of genuine software in the market, Computer Association of Nepal held its annual software Expo from 4 September for four days in Kathmandu with the aims to bring together the software providers and the customers under the same roof in Nepal. Bishwo Ram Balami, the coordinator of the event, said that CAN SofTech brought together all CEOs, CIOs, CTOs, IT directors, IT managers and decision makers, ICT industry leaders, ICT professionals, engineers and consultants, government officials, banking and financial institutions, academia and ICT students system, Integrators and solutions providers and ICT users. “It is an amazing platform to share ideas, demonstrate products and services, and make information exchange with national and international software developers, products and software users, professionals engaged in various IT related industries,” he added. Supported by the Ministry of Science, Technology and Environment (MoSTE), Ministry of Information & Communication (MoIC), National Information Technology Center (NITC), Office of the Controller of Certification (OCC), Nepal Telecom Authority (NTA), Internet Service Provider Association of Nepal (ISPAN), this event strives to convert e-life in Nepal. Features of CAN SofTech 2013 were Software Development, IT Enables Services, Intranet and Data Storage, Broadband Services, Voice and Data Communication, Smart Devices, Gaming, Commerce in converged environment, Digital World, E-Governance, E-Security, Mobile Application, ICT Innovation in Nepal, ICT Training and ICT Colleges and other ICT Services and Solutions.

Raining Sops at Subisu CAN SofTech

The sponsors and stalls that are present in the CAN SofTech 2013 have put forward various offers with the aim to attract the visitors. According to CAN, the title sponsor of the event, Subisu introduced ‘Free internet package’ providing unlimited internet at the speed of 256kbps and a cable TV at Rs 1000 per month with a special discount of three months if full payment of one year in done in advance. At the same time, the company also offered internet and cable TV free for one additional month along with 10 per cent discount on cable modem and USB free of cost for the customers paying 6 months charge in advance. Diamond Sponsor, Nepal Telecom will provide e-video Dongle, rim card, talk value worth Rs 100, 1 GB memory card and facility of downloading 1 GB data for three months at a discount rate of Rs 2200. Midas Technologies also provided a gift voucher of its product of Midas eClass of Rs 300. Siddhartha Bank provided Rs 100 balance for the customers opening account in Siddhartha Hello Paisa Sewa. Similarly, KRB software offered Kohinoor web based accounting software at a discount rate of Rs 9,999.

9

Software Industries Flourishing in Nepal Back at the turn of the century, outsourcing was not much of a global phenomenon as it is today, and businesses and governments alike were skeptic of transferring bulk of their IT works to the other side of the world. By Suraksha Adhikari

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he software market in Nepal is experiencing steady growth. Experts and professionals involved in this business are taking this growth as a positive aspect of developing awareness related to information technology in the country. Supporting the growth, Computer’s Association Nepal organised Subisu CAN Softech 2013 with the aim to showcase new technologies developed in the field of software, services, solutions and services and create environment to develop policies significant to promote information and communication technology in Nepal. As per CAN the overall trade of software has increased in the domestic market. Amrit Kumar Pant, General Secretary of CAN, said, the market and activities related to this business have been increasing as the people have been using software and application as necessity while it was used in the form of luxury till some years ago. “The trend of using computers is also on the rise since schools, health institutions, clubs and other social groups in far flung areas of the country have started using computers for day-to-day activities, Pant said, adding that the volume of overall ICT products will double in the next few years. CAN is working toward developing Nepal as a digital hub, particularly in software development, said Pant pointing out various international level software are being developed in Nepal. “Some years ago, people used desktop based software but now the people have switched to mobile based, android updating system which shows growing awareness of people towards technology,” he added. According to Bishwo Ram Balami, third vice president of CAN, Nepal is independent enough to produce adequate number of domestic software which is being used in cooperatives, medical establishments, small scale industries, shopping malls etc but other software like billing software, banking software are imported from other countries.

Current Business

The growing market of software business has not been only fulfilling desires of youths and the IT enthusiasts; it also has been boosting up the economy of the country. According to Narayan Neupane, second vice president of CAN, the annual transaction of 30 local companies dealing with Management Information System (MIS) is around Rs 1.5 billion. Similarly, the financial sectors and Enterprises Resource Planning (ERP) software companies are doing transaction of around Rs 4 billion per year. The operating system including Windows, Linux, Mac are annually transacting around Rs 30 million–Rs 35 million. The use of genuine and branded anti-virus software is on the rise and the trade volume of anti-virus software is around Rs 2 million. A study carried out by Central Bureau of Statistics, Government of Nepal recently showed that the computer penetration in Nepal is around 3 per cent among which 20 per cent uses internet. With the rise of mobile applications, the internet users in mobile has reached up to 67 per cent. A raw data recently showed that there are around 300 software companies in Kathmandu valley.

Increment in Outsourcing Activities

Back at the turn of the century, outsourcing was not much of a global phenomenon as it is today, and businesses and governments alike were skeptic of transferring bulk of their IT works to the other side of the world. Outsourcing has now flattened the world to a large extent, and is playing a pivotal role in bridging the digital as well as economic divide among the developed and the developing countries.

There is not a specific data on the outsourcing activities of Nepal but it has been definitely increasing as almost 2,500 graduates are being produced from BIT, BIM schools. The manpower has been increasing speedily and as the country is not being able to provide the employment opportunities to those students and they have searched alternative ways to utilize their capabilities. “Outsourcing is a common phenomenon in Nepal at present and they are working for the companies of Australia, America, Japan and other western countries,” said Balami. Pant said that the outsourcing activities have been providing employment opportunities to around 200-2500 people in the country but actual data has not yet come because most of the people are doing it on the basis of their own personal contact.

Problems and Challenges

Brain drain of the human resources has became a concern in the country. Khem Raj Bhattarai, Founder of KRB Software Pvt Ltd said that the skilled manpower are outsourcing to other countries which is a great loss to the nation. “We should bring Nepali ICT professionals, who are working abroad, to our country with capital and technology,” he said. According to the experts of this sector, lack of awareness in the people about running registered software companies have created problems. “Many developers were running

the business illegally, which was discouraging the registered companies and eventually promoting unhealthy competition in the market,” they stressed. There is lack of awareness in the people about the importance of ICT business and its prospects in the country. Pirated software users are also increasing which has been a threat to the software business and awareness should be increased to disarm these sorts of activities. Commenting on the amendment of the IT related Policy, one of the sources from Chief Investigation Bureau (CIB) said that government should come up with an updated provision to encourage the youngsters to engage in healthy business and increasing awareness about the disadvantages of pirated software to the county. They should be given a proper opportunities to showcase their abilities.

Prospects of software business

The IT sector are experiencing remarkable growth in the Nepali market. The CAN Softech have brought the IT professionals and IT enthusiasts under one roof to discuss new prospects in this sector. Such activities not only act as a hub for these peoples but also encourage them to do something innovative and remarkable in this field. Some of the IT experts feels that Nepal government should prepare special policy for implementing the original software in order to discourage the pirated software. Government sector should support the IT sector in identifying areas to brings revenue in the country.

Way ahead

In this converging era, people look for a one door solution to their problems as they want one application, which can perform multiple tasks. So, if Nepal is to gear towards introducing itself as ICT-based country, it should focus itself in developing a clean environment where information and technology can flourish in a holistic way.


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9 - 15 September 2013 (24 - 30 Bhadra 2070 BS)

TOURISM

TOURISM BRIEFS India, Japan Strengthen Tourism Ties

India and Japan have resolved to strengthen cooperation in the tourism sector. Both the tourism ministries have agreed to sign a Memorandum of Understanding (MoU) to promote bilateral tourism relations. A meeting was held in New Delhi on September 3 between Japan’s Senior Vice Minister of Land, Infrastructure, Transport and Tourism, Hiroshi Kajiyama and India’s Minister of State for Tourism, Dr K Chiranjeevi. Chiranjeevi informed his Japanese counterpart about the various measures being taken to improve Golf Tourism and MICE Tourism in India, which may be attractive to Japanese tourists and businessmen. Chiranjeevi has invited Japan to invest in the low budget hotel sector where India has liberalised the FDI route. Kajiyama said, “The proposal for investments in the budget hotel sector could form a part of the MoU between the two countries.” Furthermore, Kajiyama said he would like to lead a delegation of businessmen from Japan in the next meeting in which he hoped to conclude the MoU with India. (Traveldailymedia.com)

Boeing Forecasts Need for Pilots

Aircraft manufacturing giant, Boeing, has said the world will need over one million more commercial pilots and technicians in the next two decades to support the aircraft currently on order. In its 2013 Pilot and Technician Outlook, the company confirmed that around 498,000 new commercial pilots are going to be needed and 556,000 commercial airline maintenance technicians will need to be added to the staff counts of the world’s airlines. “The urgent demand for competent aviation personnel is a global issue that is here now and is very real,” said Sherry Carbary, vice president of Boeing Flight Services. The industry forecast projects demand will be far more serious than in previous years, after many airlines have started putting in large orders to bolster their fleets. Overall pilot demand increased in every single region except for Europe, which decreased slightly on last year’s outlook. The most common aircraft type on order is single aisle models, and represents a global requirement of roughly 25,000 new pilots per year. (Traveldailymedia.com)

Countries Call For Closer Policies at UNWTO General Assembly

The General Debate of the 20th Session of the UNWTO General Assembly has put a spotlight on the link between tourism and air transport policies. Countries attending called for closer coordination between both policies highlighting that too often these interlinked sectors are dissociated (Victoria Falls, Zambia/Zimbabwe, 28 August). Delegations from the 120 UNWTO Members States intervening at the 20th Session of the UNWTO Assembly discussed air transport policies in their respective countries and called for measures and initiatives to increase connectivity. Countries further called for closer collaboration between tourism and air transport policies. Issues such as visa facilitation, the need to make airports more visitor friendly, taxation, open skies and the impact of low cost airlines were among the issues in debate. More than one billion tourists crossed international borders during 2012, over half of who travelled by air to their destinations. (Traveldailynews.com)

T h i n k i n g

T o m o r r o w

‘Naturally Nepal Evening’ in New Delhi

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epal Tourism Board (NTB) organized ‘Naturally Nepal Evening’ at New Delhi on 30 Aug 2013, a programme focused towards press and tour operators. Subash Niroula, Acting Chief Executive Officer, NTB expressed that by organizing such kind of programmes, NTB is looking at actively promoting Nepal in India. He viewed ‘Naturally Nepal Evening’ as a platform to reinforce and build relationships with prospective and current Indian partners. He further reiterated that Nepal is looking to tap the Indian market by being

more reachable, regular and proactive with the Indian travel trade and media as well. Bishnu Prasad Lamsal, Minister (Economic), Nepal Embassy in India said that the event has created a platform to discuss on tourism prospects

Soaltee Crowne Plaza wins Today's Traveller Award

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oaltee Crowne Plaza, Kathmandu has won Today’s Traveller Award 2013 for the Best International Business Hotel. The award ceremony was held in New Delhi on August 30 at the Taj Palace Hotel, and was attended by known personalities from hotel industry, travel trade, airlines and media. Oscar Fernandes, Minister of Road Transport and Highways, Government of India, presented the award to Nalin Mandiratta, General Manager of the hotel. Today's Traveller Award is India's one of the most respected travel and tourism industry awards. The award was incorporated in 2007 with an objective of recognizing exceptional achievers and contributors in the hospitality, travel and tourism industry. Soaltee Crowne Plaza Kathmandu is well known for its state-of-the-art facilities and world class amenities, has received numerous awards and recognition in the past for its excellent services.

currencies, similar culture and no language barriers. The Nepalese private sector tour operators opined that participation at this particular programme provided them with a number of inquiries for Nepal and they hope they can convert the same to strong business ties. Other dignitaries in the event included Yogesh Srivastav, Senior Secretary of PHD Chamber of Commerce and Industry, India; Gour Kanjilal, Executive Director of Indian Association of Tour Operators and Kumkum Manaktala, Head of Tourism -Confederation of Indian Industry.

between Nepal and India and further strengthen economic diplomacy. On the occasion, Subash Goyal, President of Indian Association of Tour Operators opined that Nepal has tremendous advantages in terms of non-requirement of visa, easily acceptable

Etihad Airways Increases Flights to Kathmandu

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tihad Airways will increase its Abu DhabiKathmandu service from seven flights per week to a double daily schedule from November 1, 2013. According to the Airline, the additional flights build on the success Flight Number

EY290 EY291 EY292 EY293

From

To

Abu Dhabi Kathmandu Abu Dhabi Kathmandu

Kathmandu Abu Dhabi Kathmandu Abu Dhabi

Class seats. The double daily services enhance the connectivity over the airline’s Abu Dhabi hub to key destinations in Europe, Middle East and GCC. “The addition of the new flights will further strengthen

Departure time

09:50 16:25 13:45 20:30

of the existing service, driven by the demand from business and leisure travellers and will strengthen the already strong ties between Nepal and the UAE. The new services will be operated by A320 aircraft fitted with 16 Pearl Business Class seats and 120 Economy

Arrival time

15:35 20:05 19:40 00:10

Schedule

Daily Daily Daily Daily

Flight Duration

4hr 00 5hr 25 4hr 10 5hr 25

commercial and cultural ties between Nepal and the UAE and will lead to continued strong growth in traffic flows between Kathmandu, Abu Dhabi and beyond to many key destinations across our global network,” said Kevin Knight, Etihad Airways’ Chief Strategy and Planning Officer.

August Sees Increase in International Tourist Arrivals

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he figures released by Immigration Office, Tribhuvan International Airport (TIA) reveal that visitor arrivals in the month of August 2013, compared to the same month last year, have increased by 6.34. per cent to 47,397. In aggregate, the South Asian segment has registered positive growth of 10. per cent. Arrivals from Bangladesh, Pakistan and Sri Lanka have increased by 83.14 per cent, 36.92 per cent and 59.64

per cent respectively. India which constitutes the major market of Nepal, has recorded negative growth of 1.67 per cent. Arrivals from Asia (other than South Asia) have recorded positive growth of 21.92 per cent in aggregate. The visitor arrivals from China increased by 21.50 per cent compared to the same month last year. Similarly, the arrivals from Japan and Singapore and Malaysia have also increased by 34.54 per cent, 51.66 per cent and

73.89 per cent respectively. However, Thailand saw decline of 8.53 per cent. An overall negative growth of 17.37 per cent has been observed from the European markets. Arrivals from markets such as the UK, Germany, and France are up by 2.22 per cent, 10.38 per cent, and 2.45 per cent respectively. However, arrivals from Spain, Italy and the Netherlands have declined by 9.53 per cent, 50.56 per cent, 3.95 per cent

respectively compared to the same month last year. Tourist arrivals from Australia, Canada and the USA have increased by 39.23 per cent, 6.78 per cent and 16.05 per cent respectively. However, arrivals from New Zealand have decreased by 3.64 per cent. A total of 59,335 foreign tourists departed from TIA in August 2013. The number of Nepalis arrivals stood at 62,200 while 75,200 Nepalis departed from TIA in August 2013.

Could Technology Mean Game Over for Family Time on Holiday?

Parents surveyed in a recent poll by Villa Plus, an England based holiday company, have revealed that technology dominates their children’s holidays. Fifteen per cent of parents with children aged 18 or under who used IT devices on their last family holiday said, on average, their children used the technology for 3 hours or more every day. Moreover, almost a quarter (22 per cent) of respondents who’ve been on holiday with children said their kids usually used tablets on holiday, while over a third (35 per cent) said they used smartphones, and more than a quarter (27 per cent) stated they used games consoles. Teenagers aged between 15 and 18 are particularly devoted technology users, the data shows, with 62 per cent of parents with kids in this age group revealing they use a smartphone while on holiday. Parents of 15 to 18 year olds were also most likely to have a child who uses a laptop whilst on holiday (21 per cent). (Traveldailynews.com)

Women celebrating Teej at Pashupatinath temple. Teej is observed by Hindu women praying for wellness of their husbands.

Photo: Rukesh Shrestha/TC


9 - 15 September 2013 (24 - 30 Bhadra 2070 BS)

T h i n k i n g

LIFESTYLE & TECHNOLOGY

T o m o r r o w

11

Kohinoor Software

Perfect Business Solutions TECH BRIEFS Apple Announces Launch Event for Sept 10

Apple send out a colourful invitationl last Tuesday to a September 10 launch event at which it is widely expected to announce a new version of its iPhone. The invitation, which featured a palette of brightly coloured dots above the tag line “this should brighten everyone’s day,” followed numerous media reports that the company would be introducing a line of low-cost iPhones in a variety of playful colours.

Artificial Heart to Alert Heart Attacks Scientists have long searched for a durable artificial heart that can work as efficiently as the one supplied by nature. Now Carmat, a Paris based company, has designed an artificial heart fashioned in part from cow tissue. The device, soon to be tested in patients with heart failure, is regulated by sensors, software and microelectronics. And its power will come from two external, wearable lithium-ion batteries.

All software of these series are built on web-based platform, hence can be accessed through mobile devices or computers from any corner of the world.

SOFTWARE FOCUS

By Sanjeev Sharma

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here are numerous software products available in the market claiming to be the ‘perfect solution’, leaving you in confusion to choose the right one. Particular software (designed for a particular task) may not be helpful to deal in various sectors. However, some bright ideas are emerging and new players in the Nepali software market are offering effective solutions to the businesses to match their needs. KRB Software Pvt Ltd is one of the leading Nepali developers offering real-time business software solutions. The company has come up with a series of ‘Kohinoor Software’ designed to meet various needs of clients. The series includes accounting and management software with high data security. All software of these series are built on web-based platform, hence can be accessed through mobile devices or computers from any corner of the world.

Kohinoor Accounting

Yahoo Rolls Out its New Logo

After an extensive amount of build-up, Yahoo has finally unveiled its brand new logo. Overall the look is cleaner and thinner, and it is a new sans-serif typeface created by Yahoo. The logo is still purple, though a shade darker, and features all the usual uppercase letters in the same order finished off by the signature enthusiastic exclamation point, which dances around in some versions.

Now, 3D Model to Pinpoint Earthquakes

Scientists have developed a new 3D model of the Earth to allow them to pinpoint the sources of earthquakes and explosions around the world more accurately than ever. Sandia National Laboratories and Los Alamos National Laboratory partnered to develop a 3-D model of the Earth’s mantle and crust called SALSA3D, or Sandia-Los Alamos 3D. The model uses a scalable triangular tessellation and seismic tomography to map the Earth’s “compressional wave seismic velocity,” a property of the rocks and other materials inside the Earth that indicates how quickly compressional waves travel through them and is one way to accurately locate seismic events, Sandia geophysicist Sandy Ballard said.

Twitter to Solve Traffic Woes

A new method may put an end to traffic woes by collecting information on transportation problems following mass events, like football matches, using tweets made by citizens on Twitter, researchers say. “The ability of social networks to produce information on heavy traffic, road hazards, quality of service of public transportation and more is valuable to decision makers,” said Dr Tsvi Kuflik, the Head of the Information Systems Department at the University of Haifa.

Built using ASP.NET MVC and SQL Server framework, Kohinoor Accounting is application software which processes the daily transactions of business firms. It has wide range of features which are suitable for all kinds of enterprises. Kohinoor Accounting has double entry book keeping system and easy-to-use ledger maintenance. The software can perform VAT reporting, document management, workflow management, normal as well as periodic profit and loss statement reporting of group and sub-groups. Similarly, it can manage complete financial reports like cash/bank summary, day book, journal details, ledgers such as stock ledger, stock ledger with value and stock valuation, trial balance, profit and loss reports, balance sheet reporting and so on. Likewise, inventory management, product and customer wise analysis report, branch wise data entry and reporting can also be done easily using this software. Users can perform search within seconds in just a few clicks as it facilitates easy and fast retrieval of data and information through its search module. Kohinoor Accounting is fully scalable and customizable software which can be used to meet the need of customers. The official price of the software is Rs 25,000. However, KRB Software is offering Kohinoor Accounting at a discounted price of Rs 9,999.

Kohinoor Hotel Management System

Kohinoor Hotel Management is designed to fulfill the needs of data management for hotels. The software is a comprehensive system which is an integrated form of service management, point of sale (POS), hotel

T

reservation, report management, inventory management, front office management, human resource management and account and payroll management etc. Users can manage check-in and check-out of hotel guests, online bookings, house-keeping and track the employee

individually or to a group of students, parents and teachers/staff to inform them on a particular topic. Parents can access the software to monitor the progress of their children. Apart from academic tasks, Kohinoor Academy also generates accurate accounting and MIS reports of educational institutions. The official price of the application system software is Rs 50,000.

Kohinoor Hospital availability and their activities. Kohinoor Hotel Management is web-based application software which provides secured database structure with the authenticated login and multi user system that organizes stores and retrieves information in real-time. Kohinoor Hotel is suitable for all kinds of hotel, motel, inn, guest house, resorts and lodges. This multi-utility software is priced at Rs 100,000.

Kohinoor Restaurant

This management software can help in smooth operation of restaurants. Kohinoor Restaurant is an integrated form of service management, POS and restaurant reservation, report management, inventory management and accounting. The software can manage transaction maintenance, bill and report generation, kitchen order token (KOT) and bar order token (BOT), waiters commission management, periodic schemes and human resource and payroll in a very effective manner. The software can also manage lostand-found belongings of customers. Kohinoor Restaurant carries a price-tag of Rs 25,000.

Kohinoor Hospital is software for managing all operations, financial transactions, doctors, nurses, other personnel, visitors and patients of a hospital. According to the company, the Kohinoor Hospital enhances intra-organisation communication and coordination, increases staff productivity, helps in offering better quality services, improves risk management, optimises revenue recovery, reduces operating cost and eliminates transcription among other benefits. The software also for patient and surgical management, doctor, nurses and patient log in, doctor consultant and their schedule management, inventory management, emergency and ambulance services, patient and staff record maintenance is a web based application. This software also has features such as laboratory and pathology automation, operation room and ICU maintenance, internal messaging system, payroll system and accounting system among others. The developer of Kohinoor Hospital has priced it at Rs 600,000.

Kohinoor Manpower

Kohinoor Academy

Kohinoor Academy is an application designed for the daily academic and administrative operational needs of educational institutions. This software includes a wide range of functional modules and features which are scalable and customisable according to the need of organisations. Kohinoor Academy can effectively manage information of students and teachers, library data and human resource records. Users can schedule or re-schedule all academic activities smartly by using this software. This software helps in generation of routine, results and exam reports with accuracy. It also lets users to print mark sheet, character certificate and identity card. Kohinoor academy can be used to setup students and classes according to the subjects and schedule examinations. It also maintains the attendance of students and teachers. Similarly, users can also schedule school bus routes. Another impressive feature of Kohinoor Academy is the SMS Module, which enables users to send mobile messages

Kohinoor Manpower management application works as an information management system and processes every operation of a manpower enterprise. “We have focused on affordable software that is simple to implement and use,” claims KRB Software. This application keeps track of all applicants, employees, clients and companies. Likewise, it tracks daily transactions, monitors target achievements, account statements, eases follow up of applicants and it can be fully customised to meet the business requirements. According to the company, this application has features such as recruitment process management, complete information management of applicants, tracks status of available workforce recruited for foreign companies, document management, financial reports management, security rights management, multi branch management among others. Kohinoor Manpower can be purchased at Rs 40,000.

Samsung Unveils Smartwatch, New Galaxy Note

he era of smartwatches has arrived. Samsung rolled out its Galaxy Gear smartwatch last Wednesday at an event in Berlin. The company also introduced its new Galaxy Note 3 smartphone and the 2014 edition of its tablet the Galaxy Note 10.1. Samsung's Galaxy Gear smartwatch can make and receive calls, take pictures, run its own apps and has a voice control function that allows users to perform tasks by speaking to the device. To navigate the device, a user can

swipe the screen from side to side and from top to bottom. The smartwatch is seamlessly connected to a Galaxy user's smartphone and shows a user's

updates, like email or texts, on the device screen. Galaxy Gear will launch in more than 140 countries starting on Sept. 25. It will be available in six different colors and will have 10 different preloaded clock options for users to choose from. The company also unveiled Samsung's Galaxy Note 3 smartphone. The smartphone

houses a S-Pen, which helps unlock the functions of the device; Samsung's Knox security system, which helps protect the device from mobile malware; and a new multiwindow feature, which enables users to multi-task easier. The smartphone also features a 5.7-inch display screen, 13 megapixel rear camera, longer battery life, faster LTE and it is available in 10 different colors. Samsung's new high-resolution tablet, an updated Galaxy Note 10.1, is a 10-inch tablet that also syncs with the Gear smartwatch.


12

9 - 15 September 2013 (24 - 30 Bhadra 2070 BS)

BRANDSPEAK

BUSINESS BRIEFS

T h i n k i n g

Have a Heritage Sleep, Balaji Now Eyeing on Carpet With almost a decade long experience, the company has become successful to surpass all other international brands.

Panchakanya Group Celebrates 40th Anniversary

Panchakanya Group has celebrated 40 years of its presence in the Nepali industrial sector. On the occasion of its annual Panchakanya Day event on August 31st, the Group organized a program for the celebration. The programme held at Hotel Radisson was attended by prominent figures from the various business and non business communities. The highlight of the program was the launch of the group’s first corporate magazine by Managing Director Pradeep Kumar Shrestha.

Colors Introduces Star 4.0

Colors Mobile has introduced Star 4.0 in its Xfactor series. The handset supports 3G SIM and 3G data connections. Xfactor Star has a 4 inch capacitive touch screen and runs on Android Jelly Bean 4.2.2. The phone is powered by 1.3 GHz dual core processor and has 512 MB of RAM. There is a 3.2 MP rear camera and a 0.3 MP front camera, and the camera comes with LED flash and supports panoramic shot mode. The phone is available at a price of Rs 11,000.

Bajaj’s ‘Dusavatar’

HH Bajaj, the authorized distributor and marketer of Bajaj Motorcycles in Nepal has introduced a new scheme for Dashain and Tihar called ‘Bajaj Dusavatar’. The scheme offers every customer purchasing Bajaj bikes instant cash prizes and weekly lucky draw coupon. The scheme revolves around the number 10, and offers weekly bumper prize of Rs 1,000,000 to 10 winners. Also, the campaign will last for a period of 10 weeks and the scheme celebrates the 10 years of two wheeler market of Bajaj bikes in Nepal. This offer is active from September 1 and is applicable throughout the country.

T o m o r r o w

By Bhawani Timilsina

B

eing one of the popular local brands ‘Heritage’ mattresses is the favourite choice among the consumers. And, if all goes well, the brand is going to be available in also carpet and furnishing products in near future. “Heritage, by its name, reflects that the product is classic. And that we are also exploring business opportunities in carpet and furnishing goods,” says, Hemraj Dhakal, Director of the Balaji Coir Industries Pvt Ltd (BCIPL). The mattress segment is the key component of the BCIPL. The product was introduced in 2004. “With almost a decade long experience, the company has become successful to surpass all other international brands. We have been attempting to assess quality and comfort through heritage mattress, he says. The company imports raw materials from India, Malaysia, China, Bangladesh, Thailand etc. “We design our products according to the requirements and demand of the consumers,” Dhakal said. The company used to import mattresses from India in initial phase. Later the company had to face numerous problems and they decided to start their own production in Nepal. The major raw materials are coconut fiber and latex that adds natural quality to the product. They follow an international technology

Hemraj Dhakal Director Balaji Coir Industries Pvt Ltd

MADE IN NEPAL during manufacturing process to ensure quality. “We have a lab testing facility and with its inception we have surpassed all the other imported products. Nepalis consumers prefer our brand as it assures both quality and comfort,” he claims.

The company has 90 outlets across the country. It also supplies its product to Tibet. The price of the mattresses ranges between Rs 3,500-Rs 25,000. “We have set the price with a view to make it affordable to the people of all classes,” Dhakal said. While sharing the success factors of the brand, he says,

The company has 90 outlets across the country. It also supplies its product to Tibet. The company has been manufacturing four types of mattresses called silver, gold, diamond and platinum (including super platinum). The company claims to have occupied 20-30 percent share of the total market, with product guarantee of five years.

“Our marketing strategy plays an important role to achieve success in this field. Our consumers know how to choose the best products on the basis of quality and durability. We can assure that our product is of best quality, giving high comfort.” He also mentions the

business advantage of the growing sense in the consumers about the advantages and drawbacks of using mattresses. With the tagline ‘all season mattresses’, the product is suitable to use during all seasons, says Dhakal. The carpet market has been slowly and gradually growing in Nepal. “At a time while the Indian products were flooding the Nepali market, our brand helped reduce the import quantity,” he claims. According to Dhakal, around Rs 100 million has been invested in the company. “Though the competition is not tough, it is very essential to adopt changes in the demand. As the market has been growing it becomes very necessary to deal with quality of product.” he said He feels that the consumers will be benefitted from using Nepalis brands that offer guarantee and warrantee services. As per a market survey, nearly 60 per cent market has been occupied by the local product, whereas 40 percent by the international brands.

YSRS in Pokhara

Yamaha conducted its Yamaha Safe Riding Science (YSRS) programme on August 30 in Pokhara College of Management in Nadipur, Pokhara. The programme was attended by 60 participants. The objective of such one-day workshops is to increase road safety awareness for both bikers and pedestrians. This kind of program has been already conducted in more than 12 colleges of Kathmandu valley. The event also featured the test ride of the new reloaded Yamaha FZ-S.

Hyundai’s Festive Offer

Laxmi Intercontinental P Ltd, sole authorized distributor of Hyundai Motors in Nepal has introduced a customer scheme named ‘Dashain Tihar Ko Offer Super Duper Bumper’ for this festive season. Under this scheme, Hyundai customers can get cash discount of up to Rs 500,000 as Super offer, 50 Tola Gold (5 Tola each to 10 persons) as Duper offer, and Bumper prize of two Hyundai Eons through lucky draw.

Head Office: EBL House, Lazimpath P.O.Box 13384, Kathmandu, Nepal Tel: 4443377, 4443863, 4443864, Fax: 977-1-4443160 Email: ebl@mos.com.np, Website: www.everestbankltd.com Swift: EVBLNPKA

Published and Edited by Chairman Madan Lamsal for New Business Age Pvt Ltd, Panchayan Marg, Thapathali, Kathmandu, PO Box: 14197, Tel: 4267717, Fax: 4268726, E-mail: thecorporate@abhiyan.com.np, Regd No : 77/067/68, C.D.R. Postal Regd. No. 72/067/068, Printed at: Jagadamba Press (P) Ltd.


6

9 - 15 September 2013 (24 - 30 Bhadra 2070 BS)

EDITS & OPINIONS

EDITORIAL

T h i n k i n g

There is no Investment Friendly Environment

Nepal Leadership Summit

I

t is not easy to envisage country’s bright economic future after 10 years of instability. In fact, country’s existing economic indicators are not very much positive though it has tremendous potential to take the path of progress and prosperity. Industrial growth has been hanging near zero percent, the investment rate has declined, inflation is high, industrial growth is badly affected due to the energy crisis, causing companies to struggle on how to run businesses without a reliable source of electricity. In the aforementioned situation, collective effort is a must to achieve the double digit growth. New Business Age group and Birgunj Chamber of Commerce and Industries (BiCCI) tried to find out a common solution for the existing economic slowdown. The NBA group and BiCCI jointly organized Nepal Leadership Summit: Roadmap of Economic Revolution: Vision 2080 BS in Nepal’s renowned industrial city Birgunj last week. Nepal’s five former Prime Minister since 1990 expressed their views on Nepal’s economic development. They also signed a 12-point Birgunj declaration showing their commitment to the economic revolution in Nepal giving private sector a leading role. The summit was historic in many respects. First, the summit was successful to bring together Nepal’s five former Prime Ministers who represent various political parties in a platform to discuss important economic issues. Second, it sought former PMs visions and agendas to address country’s existing adverse economic issues ranging from labour unrest to power deficit. Third, the summit also tried to figure out differences among politicians and make them convinced for the economic prosperity of the country. Last but not the least, politicians signed a 12-point pact showing their commitment to the long term economic development of the country which will be remembered as the Birgunj Declaration. It is a fact that commitment is not enough. Leaders should be ready to translate their commitment into action. There is still a long struggle ahead when it comes to engaging the government to revive the Nepali economy. The country has yet to address economic concerns and map out a strategy with business community and international support to address country’s economic problems. In a positive sign to the country’s economic prosperity, all leaders pledged not to politicize economic agenda. They also stressed that Nepal is in a dire need of economic revolution after various political changes. Regardless of their political ideology, all leaders agreed to let private sector lead the country’s development and acknowledged the government’s role as catalyst. Nepal should focus on turning the optimism about the country’s future into real action. The mood should be changed from thinking of Nepal as a poor country to as a country that holds hope. It is a difficult task to implement the 12-point Birgunj Declaration but not impossible. One thing is for sure: ‘United we stand: divided we fall’. The need of the hour is sincere commitment from all political parties to drive the country into prosperity.

CORPORATE HUMOUR

Punctual CEO! This Nepali airlines is known for its punctuality. The CEO is very particular about the timing especially that of the pilots. For last one decade, Captain Dhiraj had arrived at work at 9 A.M. on the dot. He had never missed a day and was never late. Consequently, when on one particular day 9 A.M. passed without Dhiraj’s arrival, it caused a sensation. All work ceased, and the CEO himself, looking at his watch and muttering, came out into the corridor. Finally, precisely at ten, Dhiraj showed up, clothes dusty and torn, his face scratched and bruised, his glasses bent. He limped painfully to the time clock, punched in, and said, aware that all eyes were upon him, “I tripped and rolled down and nearly killed myself as I slipped on the slippery road of Baneshwor because of rain last night.” And the CEO said, “And to roll down just two kilometers of road it took you a whole hour?” Now go to the plane as you are and fly to Biratnager as passengers are waiting. As soon as you fly back to Kathmandu go to office and submit your resignation. -ML

T o m o r r o w

This country is functioning for the past six years without any long term plans. By Madan Lamsal

D

ignitaries present in this Nepal Leadership summit are much concerned over economic future of the country. But the vibes of this positive thinking has not been circulated to the common people. This platform intends to reach to those people with a hope to develop a common economic commitment. It has already been late to discuss about country’s economy because its growth barely hovering over 3 to 4.5 per cent in last three years. Entrepreneurs and businessmen along with the capital and human resource are moving abroad in large numbers. There is no investment friendly environment in our country. There is a public blame over the government’s indifferent attitude towards the economic agenda. It is now important for a common and practical mindset regarding the economy.

Challenges of Nepali Economy

Productivity of the economy is declining and new investment is almost zero. Alarmingly, annual trade embalance is

Rs 479 billion and inflation is approximately 10 percent. Nearly, 500 thousand youths are going abroad for employment and the number of those going for education and other purposes is critically high. Nepali currency depreciated by 22 per cent in last six months. Hydel projects are the victim of indecisiveness and are politicised. This country is functioning for the past six years without any long term plans. The air of uncertainty and the fear have not receded.

People’s expectations from Leaders

People are tired of opinions and blame game. Now they want a clear and common commitment to solve the existing problems and its immediate implementation. There should not be any disagreement over the common problems.

Right Time

This is the right time for a common commitment because political parties are gearing high in preparing their manifesto. There is an expectation to make the country federal. It may take time, there might be differences but constitution would be drafted and there would be political outlet. However, the days without economic progress are the

days squandered. Result is what we are desperately seeking now.

The Clock is Ticking

We should quickly act on it because the state can’t remain without long term plans for infinite period. It has been imperative to develop a national concept about the local currency peg with the Indian currency. Remittance income has not been able to utilised in productive sector. Thus, there is no alternative to make Nepal’s economy as a part of world market system. It has been imperative to provide relief to the people and industrial sector by ending energy crisis. Economic literacy is must for the political parties. And it is necessary to spread the message of industrial sector’s progress.

The way Ahead

The way ahead is co-operation. An initiative has been taken in this summit and it has to be strengthened. We are making a common commitment for coming decade. And this is not a formality but a necessity. Let’s adopt and implement it. (Views expressed by Lamsal in the Nepal Leadership Summit)

PoliticalCommitmentNecessaryforDevelopment The major reason behind economic problems is political instability and inconsistent policies. By Ashok Baidya

W

e have made an effort to bring the former prime ministers in the same platform for a meaningful dialogue and discourse on country’s overall economic development. This is probably a first of its type in the history of Nepal. I am really delighted to welcome the former prime ministers, who are at the helm of the country, in Birgung- a city known as the main entrance as well as the economic capital of the country. We are not going to hold a political debate by bringing top leaders of the political parties in this economic and industrial hub. Rather, we are seeking a political commitment for the nation’s economic development. Water, as a form of white gold, is flowing from our rivers. Provided that we utilize this water, we can easily get rid of the chronic power deficit. This will also ensure high economic growth, trade balance and earning of foreign currencies. However, instead of considering the hydropower as a matter of business, it’s a bitter reality that hydropower projects are facing political hindrances. On the other hand, Nepal is projected as a best destination for tourism by United Nations including other international organizations. However, the number of

VISUAL EDIT

tourists in our markets has not exceeded one million per annum yet. The major reason behind all these economic problems is political instability and inconsistent policies. It is obvious that there exist of many political parties with diverse orientations in a country with multiparty democratic system. But complete and frequent changes in the whole policy resulting from the government changes is

If production is to be increased and investment is to be lured, a high level consensus is imperative on the fundamental issues of the economy. rarely see in any other country. The investors shy away from investing in the countries with instable politics and economy. Apart from these problems, our country is reeling under the power deficit and labour unrest, among other economic ordeals. Despite a high minimum wage compared to other South Asian countries, Nepal is yet to observe the normalcy in the labour sector. Thus, if productions are to be increased and investment is to be lured, a high level consensus is imperative on

the fundamental issues of the economy. I would like to request to all former prime ministers from this forum for a common agreement on the fundamental agenda of the economy. Birgunj is a strong pillar of our economy. 70 per cent of country’s total industrial investments are in BirgunjPathlaiya corridor. But the government has inflicted injustice to the BirgunjPathlaiya region by not declaring this region as an industrial corridor. Along with a demand to declare this region as industrial corridor, we demand with the government that Birgunj be declared as economic capital. We have also brought a concept of a greater Birgunj to develop this city as the country’s economic capital. The concept brought for the overall development of Birgunj aims to increase the economic and industrial activities at a high rate and build infrastructures to the par of complete metropolitan by 2080. I would like to request former prime ministers to realize the importance of this comprehensive plan and act towards materializing it. This program would not been a success without the participation of prime ministers. I would like to thank you from my inner heart for your presence. (Views expressed by Baidya during Nepal Leadership Summit.)


9 - 15 September 2013 (24 - 30 Bhadra 2070 BS)

T h i n k i n g

LEARNING CURVE

T o m o r r o w

NEWS IN BRIEF TU, IoM Published Results of Entrance Examination 2070 Bachelor Level Entrance Examination Committee 2070, Examination Control Division of the Tribhuvan University and Institute of Medicine (IoM) Dean’s Office publishes the results of following programmes (B.Pharma, B.Sc. MLT, B.Sc. MIT, B.Optom, BASLP, B.Sc. Nursing, BAMS and BDS) for the academic year 2070/2071 (2013 AD) conducted on 16 Bhadra 2070 (1 Sep 2013). MBBS Entrance 2070 results have been also published.

BTC will Provide 10 per cent Scholarship to Students The British College (BTC) has decided to provide 10 percent scholarship to students. The college took the decision during the discussion held among the college advisory committee. According to Rajan Kandel, Chief Executive Officer (CEO) of the college, the decision will certainly help in maintaining the relation between Britain and Nepal. “The discussion was focused on the future strategies and British visa as well,” he says. The college informed that students from six different countries are currently studying in the college. The advisory committee of the college includes Lord Sandwich, an elected hereditary peer in the UK House of Lords (upper house), Dr Chiran Thapa, Dr Arjun Karki, among others.

MoE Prepared New Provision for SLC Appearing Students Ministry of Education (MoE) has drafted a new provision for School Leaving Certificate (SLC) appearing students from this year onwards. According to the MoE, SLC appearing students will have to make illiterate people literate taking literacy classes has been taken by to accomplish the goal targeted under the literary campaign. As per the new provision, each student should make three illiterate persons literate to obtain ten marks. The total number of illiterate persons comes from an age group of 15-60.

NCC Celebrated Golden Jubilee Nepal Commerce Campus celebrated golden Jubilee on September 3 at the college premise. Chairman of the interim election government, Khil Raj Regmi and Education Minister Madhav Prasad Poudel were present in the programme. On the occasion, Regmi said that the government is planning to increase budget in higher education sector in coming days.

Interaction Programme @ Tourism & Hotel Management College Nepal Tourism and Hotel Management College at Pokhara organized an interaction programme on ‘Role of Management Education’ on September 4. Speaking at the programme Prof Ujjwal K Chowdhury, former Dean of the Symbiosis International University of India and Senior Consultant of The New Business Age Pvt Ltd said that the education system should not only be based on theoretical knowledge but it should follow investigative system. He said, “Management Colleges should focus on job viability rather than on the quantity of the students.” Ambassador of Sri Lanka to Nepal WM Senevirathna talked about the feasibility of tourism and hotel business in Nepal. According to the Ashok Palikhele, chairperson of the management committee of the college, such interaction programmes helps in sharing knowledge.

7

‘The new media has impacted the journalism teaching and training’ Martin Huckerby is a well known British Journalist with wide experience as a reporter and news editor on top UK newspapers. In these fifteen years, of career he has worked as an editorial consultant, advising news organizations and training journalists around the globe. He was editor of The Prague Post, the English-language paper of the Czech Republic (1992-96), foreign news editor of The Observer, London (1989-92) and reporter and news editor at The Times, London (1972-86). Currently, he is in Nepal to provide investigative journalism training. He shares his experiences as a trainer with Siromani Dhungana and Sanjeev Sharma of The Corporate. Excerpt:

HEAD-TALK

away quickly. In western countries, traditional media are still making profit. However, it is a fact that new media has made them less profitable. The financial crisis and the rise of digital media have slowed the pace of advertising into the traditional media. Thus, we can say that the media particularly in the west, is facing a situation of double whammy. The digital revolution has brought a massive change which the traditional media are adapting to gradually. The new media has also impacted the journalism teaching and training. There are a whole lot of materials to study in the web. One can get training from anywhere from any part of the world. However, I think the level of interaction between trainer and the trainee during the online training is somewhat limited.

I think while writing news, journalists should try to explore ways to make the issues more attractive and interesting. Every journalist should be aware of the need of readers or viewers.

How do you assess the current scenario of business journalism throughout the world?

What to you exactly do at Thompson foundation?

I am simply a consultant, an outsider in Thompson Foundation. I am an independent media consultant/trainer and a journalist. I have been working closely with Thomson Foundation since last couple of years.

You are a renowned journalism trainer at present? What excites you about the training?

If people benefit from the training it is always a pleasure for me. It is actually a sense of putting the opportunities I’ve had or things I’ve learned to passed on to other people who want to use them. The other nice thing about being a journalism trainer is the opportunity to go to other countries and meet different people, which is very interesting part of my job.

What are the most important things you want to pass on to the participants of the trainings?

It varies from countries to countries. It is important to tell whatever you are doing in the particular environment and in a particular political situation. For instance, I had been in Nepal and South Africa as a trainer last year to train journalists. I found that the environment was totally different in South Africa compared to Nepal. Choice of topics, issues and approaches in trainings varies from place to place.

What are the basic skills you want to pass on to the journalists in general?

There are many skills that you can use as a journalist. I wouldn’t say that there are specific skills to pass on. I think we are in a business of opening people’s eyes and making them realize that there are different ways of approaching their jobs according to the norms on their organization or countries. We basically try to train journalists about the different ways of approaching issues and topics. I divide news into two broad categories- news that is important to people and news that they are interested in. I think while writing news, journalists should try to explore ways to make the issues more attractive and interesting. Every journalist should be aware of the need of readers or viewers. Talking about Nepali media sector, in 20 years there has been pretty amazing and tremendous progress. With relatively low level of trainings, Nepali journalists made their way pretty amazingly.

There is a rapid change in media technology these days. What changes have new technology brought to the media landscape?

I think the change and impact brought by technology is very vast. Use of technology has made a constant change in all types of media. Most are faced with the future which is incredibly unclear. I remember a conversation with one of the top digital news official in the BBC a few years ago. During the conversation, he told me that now we should try fast and kill fast. He was

referring to their work style, and the fact that the news ideas are coming very quickly from various sources through different media. And if they don’t find those news to be useful they would be ‘killed’ or thrown

I can’t make many intelligent comments about the particular topic as I am not an expert in business journalism. However, I do compare business and financial publications of different countries. I would say that business journalism varies considerably in different countries and different aspects should be considered while writing business news. I mean to say that the impact of different business, financial and economic events in everyday life of people should be highlighted in the first hand.


8

9 - 15 September 2013 (24 - 30 Bhadra 2070 BS)

MONEY MATTERS

T h i n k i n g

NEWS IN BRIEF

Weekly Gold and Silver Price

T o m o r r o w

US Dollar Exchange Rate at Local Market

Everest Bank’s Mobile ATM Facility Everest Bank Limited began a mobile ATM facility. As per this facility, customers do not need to go to branch to get the banking services of the Everest Bank. The customers can get the payment from the designated bank representative. The Bank said that they have their designated representatives across the country. According to the press release of the bank, customers can also open their bank account from the designated representative. Everest Bank has introduced the concept of branchless banking service for the first time in Nepal.

Siddhartha Dev Bank’s ‘Home Loan Scheme’

Siddhartha Development Bank brought a ‘SDBL Home Loan’ scheme. The Bank said it has brought the scheme to fulfill the dream of every citizen to have their own home. The Bank informed that it will extend the maximum loan up to Rs 10 million to purchase home and apartment as well as to build the home.

Kailash Proposes 19 per cent Dividend

Kailash Development Bank Ltd said it will distribute 19 per cent dividend from the profit earned in the Fiscal Year 2012-13. The meeting of the Board of Directors (BOD) held last Wednesday decided to recommend distribution of 10 per cent bonus share and 9 per cent cash dividend. The Bank has collected Rs 6.26 billion deposit and extended a total of Rs 5.5 billion as loans in the Fiscal Year 2012-13. It informed that it has earned Rs 152.6 million net profit in the review period.

Discount on Infrastructure’s Locker Infrastructure Development Bank Ltd said it will provide the free locker facility for a year to the customer opening bank account on ‘Naari Samriddi Khaata’. The Bank said it is providing this facility on the auspicious occasion of Hindu women’s festival Teej. The Bank, which merged with Swastik Merchant Finance Co Ltd last year, is providing banking services to its customers through 18 branches.

Laxmi Bank’s branch at Kohalpur

Laxmi Bank Ltd opened its branch at Kohalpur in Nepalgunj. The branch started its operation from last Monday. The number of the Bank’s branches has reached 33 with this newly opened branch. The Branch’s Manager Rima Malla informed that the branch will offer ATM, internet banking, mobile and other services.

Bhrikuti Development Enters 10th Year Bhrikuti Development Bank Ltd headquartered in Butwal entered 10th year last Tuesday. The Bank had started its operation on September 3, 2004. The Bank’s paid up capital that started with Rs 10.5 million has now reached Rs 353.1. The Bank has expanded its services to 10 districts. The Bank said that the deposit amount of the bank has reached a total of Rs 4.30 billion and extended a total of Rs 3.21 billion as loans until the end of the Fiscal Year 2012-13. The bank has earned Rs 110 million profit.

Om Finance to Distribute 21 pc Dividend Om Finance Ltd headquartered at Pokhara said it is planning to distribute 20 per cent bonus share and 1 per cent cash dividend. The Finance’s Annual General Meeting will decide to distribute a total of 21 per cent dividend after getting the approval from the Nepal Rastra Bank, according to the press statement released by the General Manager of Om Finance last Monday. Malla informed that the paid up capital of the Finance will be of worth Rs 325.7 million after distributing the dividend.

Source: Nepal Gold and Silver Dealers’ Association

TopTen Gainers Rank 1 2 3 4 5 6 7 8 9 10

Source: Nepal Rastra Bank

Top Ten Losers

Company Oriental Hotel Life Insurance Co Muktinath Bikas Bank Gandaki Bikas Bank Premier Insurance Co Himalayan Gen.Insu Excel Development Bank Karnali Development Bank Nepal Credit & Com Bank Citizen Investment Trust

Op. 140 1350 335 116 181 333 291 88 280 1420

Hi. 162 1514 365 126 218 417 318 96 295 1500

Lo. 140 1316 329 114 169 309 286 83 275 1400

Cl. 162 1500 365 126 196 360 309 93 295 1490

Diff. 22 150 30 10 15 27 18 5 15 70

Chg. % 15.71 11.11 8.96 8.62 8.29 8.11 6.19 5.68 5.36 4.93

Rank 1 2 3 4 5 6 7 8 9 10

Company Alliance Insurance Co Siddhartha Insurance Jyoti Bikash Bank Shine Resunga Development Bank Subhechha Bikas Bank Gaurishankar Development Bank Kasthamandap Development Bank Sewa Bikas Bank Lumbini Finance Nilgiri Bikas Bank

Op. 283 370 88 239 115 105 76 116 139 162

Hi. 291 370 88 241 115 105 76 116 139 165

Lo. 241 330 77 216 104 91 70 104 129 151

Cl. 241 332 79 216 104 95 70 107 129 151

Diff. -42 -38 -9 -23 -11 -10 -6 -9 -10 -11

Chg. % -14.84 -10.27 -10.23 -9.62 -9.57 -9.52 -7.89 -7.76 -7.19 -6.79

Nepse Falls 5.08 Points By Sagar Ghimire

was followed by Other, Commercial Bank, Development Bank and Trading to observe decline respectively. The Manufacturing and Production sector remained unchanged in the sub-index. The Insurance sector increased the highest by 6.75 points in the share markets last week. The Insurance opened at 1231.49 points and closed at 1238.24. Except Insurance, there was increment in Hotel, Trading and Finance sectors also. Of the individual companies, Nepal Bangladesh Bank (NBB) topped the index in terms of transaction amount, number of shares and number of transactions. The Bank made Rs 866.18 million as

N

epal Stock Exchange (Nepse) index fell 5.08 points last week. It had closed on 551.55 points on Sunday (September 1) making a record of six-month to cross 500. However, it plunged to 546.55 at the end of the trading day on Thursday (September 6). Shares of 141 companies were traded in the market floor during the week through 9400 transactions, which amounts to Rs 2.097 billion. The market floor was opened on Sunday (September 1) for five days during the week. The transaction amount of ‘A’ class companies only accounts to 41.98 per cent, which equals to Rs 881.46 million. The transaction amount is 140.47 per cent higher compared to the amount of previous week, when the shares of 131 companies were traded through 8234 transactions amounting to Rs 872.19 million during four trading days. Among the sub-indices, the Hydropower sector has decreased heavily by 39.32 points closing at 1274.67. The Hydropower sector Days Sun Mon Tue Thurs Changes

Sectors Com. Banks 535.22 532.44 536.72 534.95 -0.27

Mfg. & Pro. 886.41 886.41 886.41 894.4 7.99

Hotel

Others

Hydro

670.86 669.68 682.60 672.03 11.07

670.86 1205.13 669.68 1224.58 682.60 1250.36 672.03 1303.35 1.17 98.22

Trading

Insu.

172.23 1220.58 172.23 1210.73 172.23 1218.06 172.23 1215.66 0.00 -4.91

Finance 263.46 263.83 264.40 263.98 0.52

Dev. Banks 279.23 279.07 280.95 281.17 1.93

Nepse Index 548.11 546.74 552.24 551.44 3.33

Source: Nepse

NB’s Non Performing Loan Goes below 2 pc

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epal Bangladesh Bank Limited informed that it has now less than 2 per cent as non performing loans. Releasing a press statement last Wednesday, the Bank informed that the non performing loan would decrease since it has received the payment of 29,14,012 units of promoters shares worth Rs 763 million from the Bangladesh based IFIC Bank. The Bank said it will utilize Rs 250 million

BOK Earns Rs 617.1 Million Profits

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ank of Kathmandu (BOK) earned Rs 617.1 million net profit in the Fiscal Year 2012-13. Stating that the Bank has earned satisfactory profit in the FY 2012-13, the meeting of the Board of Directors (BOD) held last Wednesday decided to recommend 0.736 per cent cash dividend and 14 per cent bonus share. The Bank’s total deposit has reached Rs 27.70 in the review period and it extended a total of Rs 23.5 billion as loans.

out of the total payment to pay off the loans of different banks and financial institution taken by the NB Bank against the collateral of NB Bank’s shares, while remaining amount would be for recovering loans taken by its Nepali directors. The Bank claimed that the loans by the directors that was counted as the non performing loan, would be recovered now which would decrease the total nonperforming loan.

Upadhyay Appointed Kumari Bank’s CEO

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he meeting of the Board of Director (BOD) of Kumari Bank Limited held last Thursday appointed Udaya Krishna Upadhyay as the Chief Executive Officer (CEO) of the Bank. Upadhyaya, who has 28 years of experience in the banking sector, had joined Kumari Bank four years ago as Deputy General Manager. He was working as Acting CEO for last two years before being appointed as the CEO for a four-year term.The bank and the board members has congratulated newly appointed CEO Upadhyay and extended best wishes and support to take the bank to a newer height during his tenure, according to a press release issued by the Bank.

Nepse on Sunday

Nepse index increased by 5.52 points closing at 552.01 on Sunday, September 8. The share market saw a total of 235.1 million turnover through 1917 transactions of 96 companies on the first day of the market floor for this week. Banking, Development and Hydropower sectors’ sub-indices increased, while Finance, Insurance and Others sectors observed a decline in the share market. The Hydropower sector surged highest by 30.32 points with closing on 1304.99, while Insurance continues plunged the most (1.54 points) with closing on 1235.8. The stock of Premier Finance Co Ltd- ‘PFCCLL’- has been resumed on Sunday at a trading rate of Rs 168 after the merger process with the Imperial Finance was cancelled. a total transaction amount through 543 transactions. The total number of Bank’s shares traded during the week was 3,206,380. Nabil Bank was on the second in the index to have the highest transaction with an amount worth Rs 397.70 million. During the week, 1,292,061 bonus shares of Sagarmatha Insurance Company, 53,747 of Salt Trading Company, 104,835 of Goodwill Finance and 139,466 bonus shares of Neco Insurance Company were listed in the Nepse. Similarly, 1,555,000 units of additional share were also listed during the week.

15 pc Bonus Share by Arun Valley

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run Valley Hydro Power Development Company Ltd decided to distribute 15 per cent of bonus share and 0.75 per cent of cash dividend. According to the press statement released by the Company, the 16th Annual General Meeting of the Company held recently also decided to authorise the Board of Directors (BOD) to issue rights share at 1:1 ratio. The company has said it has already signed a Power Purchase Agreement (PPA) with Nepal Electricity Authority for Kabeli-B1 Hydropower project of 25-megawatt capacity and Upper Piluwakhola Project of 9.6 megawatt capacity. It has informed that it is taking ahead the Kabeli-B1 project with utmost priority. The AGM has elected Guru Prashad Neupane, Ramesh Prashad Neupane, Bachchha Raj Tater, Jeevan Raj Shakya and Puja Neupane for the Board of Directors. Likewise, Sanjeev Neupane and Bhej Prashad Timilsina too have been elected unanimously for t he board.


9 - 15 September 2013 (24 - 30 Bhadra 2070 BS)

T h i n k i n g

FOCUS

T o m o r r o w

BRIEFS CAN SofTech Boosts Software Industry

The sixth edition of CAN SofTech-2013 kicked off with an aim to bring together national and international ICT related companies under a single roof at the Exhibition Hall in Bhrikuti Mandap, Kathmandu from September 4.The event came up with the slogan "Converging to e-life" which suggests the event to be extensively based on various e-solutions and services. Keeping in mind the increasing demand of genuine software in the market, Computer Association of Nepal held its annual software Expo from 4 September for four days in Kathmandu with the aims to bring together the software providers and the customers under the same roof in Nepal. Bishwo Ram Balami, the coordinator of the event, said that CAN SofTech brought together all CEOs, CIOs, CTOs, IT directors, IT managers and decision makers, ICT industry leaders, ICT professionals, engineers and consultants, government officials, banking and financial institutions, academia and ICT students system, Integrators and solutions providers and ICT users. “It is an amazing platform to share ideas, demonstrate products and services, and make information exchange with national and international software developers, products and software users, professionals engaged in various IT related industries,” he added. Supported by the Ministry of Science, Technology and Environment (MoSTE), Ministry of Information & Communication (MoIC), National Information Technology Center (NITC), Office of the Controller of Certification (OCC), Nepal Telecom Authority (NTA), Internet Service Provider Association of Nepal (ISPAN), this event strives to convert e-life in Nepal. Features of CAN SofTech 2013 were Software Development, IT Enables Services, Intranet and Data Storage, Broadband Services, Voice and Data Communication, Smart Devices, Gaming, Commerce in converged environment, Digital World, E-Governance, E-Security, Mobile Application, ICT Innovation in Nepal, ICT Training and ICT Colleges and other ICT Services and Solutions.

Raining Sops at Subisu CAN SofTech

The sponsors and stalls that are present in the CAN SofTech 2013 have put forward various offers with the aim to attract the visitors. According to CAN, the title sponsor of the event, Subisu introduced ‘Free internet package’ providing unlimited internet at the speed of 256kbps and a cable TV at Rs 1000 per month with a special discount of three months if full payment of one year in done in advance. At the same time, the company also offered internet and cable TV free for one additional month along with 10 per cent discount on cable modem and USB free of cost for the customers paying 6 months charge in advance. Diamond Sponsor, Nepal Telecom will provide e-video Dongle, rim card, talk value worth Rs 100, 1 GB memory card and facility of downloading 1 GB data for three months at a discount rate of Rs 2200. Midas Technologies also provided a gift voucher of its product of Midas eClass of Rs 300. Siddhartha Bank provided Rs 100 balance for the customers opening account in Siddhartha Hello Paisa Sewa. Similarly, KRB software offered Kohinoor web based accounting software at a discount rate of Rs 9,999.

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Software Industries Flourishing in Nepal Back at the turn of the century, outsourcing was not much of a global phenomenon as it is today, and businesses and governments alike were skeptic of transferring bulk of their IT works to the other side of the world. By Suraksha Adhikari

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he software market in Nepal is experiencing steady growth. Experts and professionals involved in this business are taking this growth as a positive aspect of developing awareness related to information technology in the country. Supporting the growth, Computer’s Association Nepal organised Subisu CAN Softech 2013 with the aim to showcase new technologies developed in the field of software, services, solutions and services and create environment to develop policies significant to promote information and communication technology in Nepal. As per CAN the overall trade of software has increased in the domestic market. Amrit Kumar Pant, General Secretary of CAN, said, the market and activities related to this business have been increasing as the people have been using software and application as necessity while it was used in the form of luxury till some years ago. “The trend of using computers is also on the rise since schools, health institutions, clubs and other social groups in far flung areas of the country have started using computers for day-to-day activities, Pant said, adding that the volume of overall ICT products will double in the next few years. CAN is working toward developing Nepal as a digital hub, particularly in software development, said Pant pointing out various international level software are being developed in Nepal. “Some years ago, people used desktop based software but now the people have switched to mobile based, android updating system which shows growing awareness of people towards technology,” he added. According to Bishwo Ram Balami, third vice president of CAN, Nepal is independent enough to produce adequate number of domestic software which is being used in cooperatives, medical establishments, small scale industries, shopping malls etc but other software like billing software, banking software are imported from other countries.

Current Business

The growing market of software business has not been only fulfilling desires of youths and the IT enthusiasts; it also has been boosting up the economy of the country. According to Narayan Neupane, second vice president of CAN, the annual transaction of 30 local companies dealing with Management Information System (MIS) is around Rs 1.5 billion. Similarly, the financial sectors and Enterprises Resource Planning (ERP) software companies are doing transaction of around Rs 4 billion per year. The operating system including Windows, Linux, Mac are annually transacting around Rs 30 million–Rs 35 million. The use of genuine and branded anti-virus software is on the rise and the trade volume of anti-virus software is around Rs 2 million. A study carried out by Central Bureau of Statistics, Government of Nepal recently showed that the computer penetration in Nepal is around 3 per cent among which 20 per cent uses internet. With the rise of mobile applications, the internet users in mobile has reached up to 67 per cent. A raw data recently showed that there are around 300 software companies in Kathmandu valley.

Increment in Outsourcing Activities

Back at the turn of the century, outsourcing was not much of a global phenomenon as it is today, and businesses and governments alike were skeptic of transferring bulk of their IT works to the other side of the world. Outsourcing has now flattened the world to a large extent, and is playing a pivotal role in bridging the digital as well as economic divide among the developed and the developing countries.

There is not a specific data on the outsourcing activities of Nepal but it has been definitely increasing as almost 2,500 graduates are being produced from BIT, BIM schools. The manpower has been increasing speedily and as the country is not being able to provide the employment opportunities to those students and they have searched alternative ways to utilize their capabilities. “Outsourcing is a common phenomenon in Nepal at present and they are working for the companies of Australia, America, Japan and other western countries,” said Balami. Pant said that the outsourcing activities have been providing employment opportunities to around 200-2500 people in the country but actual data has not yet come because most of the people are doing it on the basis of their own personal contact.

Problems and Challenges

Brain drain of the human resources has became a concern in the country. Khem Raj Bhattarai, Founder of KRB Software Pvt Ltd said that the skilled manpower are outsourcing to other countries which is a great loss to the nation. “We should bring Nepali ICT professionals, who are working abroad, to our country with capital and technology,” he said. According to the experts of this sector, lack of awareness in the people about running registered software companies have created problems. “Many developers were running

the business illegally, which was discouraging the registered companies and eventually promoting unhealthy competition in the market,” they stressed. There is lack of awareness in the people about the importance of ICT business and its prospects in the country. Pirated software users are also increasing which has been a threat to the software business and awareness should be increased to disarm these sorts of activities. Commenting on the amendment of the IT related Policy, one of the sources from Chief Investigation Bureau (CIB) said that government should come up with an updated provision to encourage the youngsters to engage in healthy business and increasing awareness about the disadvantages of pirated software to the county. They should be given a proper opportunities to showcase their abilities.

Prospects of software business

The IT sector are experiencing remarkable growth in the Nepali market. The CAN Softech have brought the IT professionals and IT enthusiasts under one roof to discuss new prospects in this sector. Such activities not only act as a hub for these peoples but also encourage them to do something innovative and remarkable in this field. Some of the IT experts feels that Nepal government should prepare special policy for implementing the original software in order to discourage the pirated software. Government sector should support the IT sector in identifying areas to brings revenue in the country.

Way ahead

In this converging era, people look for a one door solution to their problems as they want one application, which can perform multiple tasks. So, if Nepal is to gear towards introducing itself as ICT-based country, it should focus itself in developing a clean environment where information and technology can flourish in a holistic way.


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9 - 15 September 2013 (24 - 30 Bhadra 2070 BS)

TOURISM

TOURISM BRIEFS India, Japan Strengthen Tourism Ties

India and Japan have resolved to strengthen cooperation in the tourism sector. Both the tourism ministries have agreed to sign a Memorandum of Understanding (MoU) to promote bilateral tourism relations. A meeting was held in New Delhi on September 3 between Japan’s Senior Vice Minister of Land, Infrastructure, Transport and Tourism, Hiroshi Kajiyama and India’s Minister of State for Tourism, Dr K Chiranjeevi. Chiranjeevi informed his Japanese counterpart about the various measures being taken to improve Golf Tourism and MICE Tourism in India, which may be attractive to Japanese tourists and businessmen. Chiranjeevi has invited Japan to invest in the low budget hotel sector where India has liberalised the FDI route. Kajiyama said, “The proposal for investments in the budget hotel sector could form a part of the MoU between the two countries.” Furthermore, Kajiyama said he would like to lead a delegation of businessmen from Japan in the next meeting in which he hoped to conclude the MoU with India. (Traveldailymedia.com)

Boeing Forecasts Need for Pilots

Aircraft manufacturing giant, Boeing, has said the world will need over one million more commercial pilots and technicians in the next two decades to support the aircraft currently on order. In its 2013 Pilot and Technician Outlook, the company confirmed that around 498,000 new commercial pilots are going to be needed and 556,000 commercial airline maintenance technicians will need to be added to the staff counts of the world’s airlines. “The urgent demand for competent aviation personnel is a global issue that is here now and is very real,” said Sherry Carbary, vice president of Boeing Flight Services. The industry forecast projects demand will be far more serious than in previous years, after many airlines have started putting in large orders to bolster their fleets. Overall pilot demand increased in every single region except for Europe, which decreased slightly on last year’s outlook. The most common aircraft type on order is single aisle models, and represents a global requirement of roughly 25,000 new pilots per year. (Traveldailymedia.com)

Countries Call For Closer Policies at UNWTO General Assembly

The General Debate of the 20th Session of the UNWTO General Assembly has put a spotlight on the link between tourism and air transport policies. Countries attending called for closer coordination between both policies highlighting that too often these interlinked sectors are dissociated (Victoria Falls, Zambia/Zimbabwe, 28 August). Delegations from the 120 UNWTO Members States intervening at the 20th Session of the UNWTO Assembly discussed air transport policies in their respective countries and called for measures and initiatives to increase connectivity. Countries further called for closer collaboration between tourism and air transport policies. Issues such as visa facilitation, the need to make airports more visitor friendly, taxation, open skies and the impact of low cost airlines were among the issues in debate. More than one billion tourists crossed international borders during 2012, over half of who travelled by air to their destinations. (Traveldailynews.com)

T h i n k i n g

T o m o r r o w

‘Naturally Nepal Evening’ in New Delhi

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epal Tourism Board (NTB) organized ‘Naturally Nepal Evening’ at New Delhi on 30 Aug 2013, a programme focused towards press and tour operators. Subash Niroula, Acting Chief Executive Officer, NTB expressed that by organizing such kind of programmes, NTB is looking at actively promoting Nepal in India. He viewed ‘Naturally Nepal Evening’ as a platform to reinforce and build relationships with prospective and current Indian partners. He further reiterated that Nepal is looking to tap the Indian market by being

more reachable, regular and proactive with the Indian travel trade and media as well. Bishnu Prasad Lamsal, Minister (Economic), Nepal Embassy in India said that the event has created a platform to discuss on tourism prospects

Soaltee Crowne Plaza wins Today's Traveller Award

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oaltee Crowne Plaza, Kathmandu has won Today’s Traveller Award 2013 for the Best International Business Hotel. The award ceremony was held in New Delhi on August 30 at the Taj Palace Hotel, and was attended by known personalities from hotel industry, travel trade, airlines and media. Oscar Fernandes, Minister of Road Transport and Highways, Government of India, presented the award to Nalin Mandiratta, General Manager of the hotel. Today's Traveller Award is India's one of the most respected travel and tourism industry awards. The award was incorporated in 2007 with an objective of recognizing exceptional achievers and contributors in the hospitality, travel and tourism industry. Soaltee Crowne Plaza Kathmandu is well known for its state-of-the-art facilities and world class amenities, has received numerous awards and recognition in the past for its excellent services.

currencies, similar culture and no language barriers. The Nepalese private sector tour operators opined that participation at this particular programme provided them with a number of inquiries for Nepal and they hope they can convert the same to strong business ties. Other dignitaries in the event included Yogesh Srivastav, Senior Secretary of PHD Chamber of Commerce and Industry, India; Gour Kanjilal, Executive Director of Indian Association of Tour Operators and Kumkum Manaktala, Head of Tourism -Confederation of Indian Industry.

between Nepal and India and further strengthen economic diplomacy. On the occasion, Subash Goyal, President of Indian Association of Tour Operators opined that Nepal has tremendous advantages in terms of non-requirement of visa, easily acceptable

Etihad Airways Increases Flights to Kathmandu

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tihad Airways will increase its Abu DhabiKathmandu service from seven flights per week to a double daily schedule from November 1, 2013. According to the Airline, the additional flights build on the success Flight Number

EY290 EY291 EY292 EY293

From

To

Abu Dhabi Kathmandu Abu Dhabi Kathmandu

Kathmandu Abu Dhabi Kathmandu Abu Dhabi

Class seats. The double daily services enhance the connectivity over the airline’s Abu Dhabi hub to key destinations in Europe, Middle East and GCC. “The addition of the new flights will further strengthen

Departure time

09:50 16:25 13:45 20:30

of the existing service, driven by the demand from business and leisure travellers and will strengthen the already strong ties between Nepal and the UAE. The new services will be operated by A320 aircraft fitted with 16 Pearl Business Class seats and 120 Economy

Arrival time

15:35 20:05 19:40 00:10

Schedule

Daily Daily Daily Daily

Flight Duration

4hr 00 5hr 25 4hr 10 5hr 25

commercial and cultural ties between Nepal and the UAE and will lead to continued strong growth in traffic flows between Kathmandu, Abu Dhabi and beyond to many key destinations across our global network,” said Kevin Knight, Etihad Airways’ Chief Strategy and Planning Officer.

August Sees Increase in International Tourist Arrivals

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he figures released by Immigration Office, Tribhuvan International Airport (TIA) reveal that visitor arrivals in the month of August 2013, compared to the same month last year, have increased by 6.34. per cent to 47,397. In aggregate, the South Asian segment has registered positive growth of 10. per cent. Arrivals from Bangladesh, Pakistan and Sri Lanka have increased by 83.14 per cent, 36.92 per cent and 59.64

per cent respectively. India which constitutes the major market of Nepal, has recorded negative growth of 1.67 per cent. Arrivals from Asia (other than South Asia) have recorded positive growth of 21.92 per cent in aggregate. The visitor arrivals from China increased by 21.50 per cent compared to the same month last year. Similarly, the arrivals from Japan and Singapore and Malaysia have also increased by 34.54 per cent, 51.66 per cent and

73.89 per cent respectively. However, Thailand saw decline of 8.53 per cent. An overall negative growth of 17.37 per cent has been observed from the European markets. Arrivals from markets such as the UK, Germany, and France are up by 2.22 per cent, 10.38 per cent, and 2.45 per cent respectively. However, arrivals from Spain, Italy and the Netherlands have declined by 9.53 per cent, 50.56 per cent, 3.95 per cent

respectively compared to the same month last year. Tourist arrivals from Australia, Canada and the USA have increased by 39.23 per cent, 6.78 per cent and 16.05 per cent respectively. However, arrivals from New Zealand have decreased by 3.64 per cent. A total of 59,335 foreign tourists departed from TIA in August 2013. The number of Nepalis arrivals stood at 62,200 while 75,200 Nepalis departed from TIA in August 2013.

Could Technology Mean Game Over for Family Time on Holiday?

Parents surveyed in a recent poll by Villa Plus, an England based holiday company, have revealed that technology dominates their children’s holidays. Fifteen per cent of parents with children aged 18 or under who used IT devices on their last family holiday said, on average, their children used the technology for 3 hours or more every day. Moreover, almost a quarter (22 per cent) of respondents who’ve been on holiday with children said their kids usually used tablets on holiday, while over a third (35 per cent) said they used smartphones, and more than a quarter (27 per cent) stated they used games consoles. Teenagers aged between 15 and 18 are particularly devoted technology users, the data shows, with 62 per cent of parents with kids in this age group revealing they use a smartphone while on holiday. Parents of 15 to 18 year olds were also most likely to have a child who uses a laptop whilst on holiday (21 per cent). (Traveldailynews.com)

Women celebrating Teej at Pashupatinath temple. Teej is observed by Hindu women praying for wellness of their husbands.

Photo: Rukesh Shrestha/TC


9 - 15 September 2013 (24 - 30 Bhadra 2070 BS)

T h i n k i n g

LIFESTYLE & TECHNOLOGY

T o m o r r o w

11

Kohinoor Software

Perfect Business Solutions TECH BRIEFS Apple Announces Launch Event for Sept 10

Apple send out a colourful invitationl last Tuesday to a September 10 launch event at which it is widely expected to announce a new version of its iPhone. The invitation, which featured a palette of brightly coloured dots above the tag line “this should brighten everyone’s day,” followed numerous media reports that the company would be introducing a line of low-cost iPhones in a variety of playful colours.

Artificial Heart to Alert Heart Attacks Scientists have long searched for a durable artificial heart that can work as efficiently as the one supplied by nature. Now Carmat, a Paris based company, has designed an artificial heart fashioned in part from cow tissue. The device, soon to be tested in patients with heart failure, is regulated by sensors, software and microelectronics. And its power will come from two external, wearable lithium-ion batteries.

All software of these series are built on web-based platform, hence can be accessed through mobile devices or computers from any corner of the world.

SOFTWARE FOCUS

By Sanjeev Sharma

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here are numerous software products available in the market claiming to be the ‘perfect solution’, leaving you in confusion to choose the right one. Particular software (designed for a particular task) may not be helpful to deal in various sectors. However, some bright ideas are emerging and new players in the Nepali software market are offering effective solutions to the businesses to match their needs. KRB Software Pvt Ltd is one of the leading Nepali developers offering real-time business software solutions. The company has come up with a series of ‘Kohinoor Software’ designed to meet various needs of clients. The series includes accounting and management software with high data security. All software of these series are built on web-based platform, hence can be accessed through mobile devices or computers from any corner of the world.

Kohinoor Accounting

Yahoo Rolls Out its New Logo

After an extensive amount of build-up, Yahoo has finally unveiled its brand new logo. Overall the look is cleaner and thinner, and it is a new sans-serif typeface created by Yahoo. The logo is still purple, though a shade darker, and features all the usual uppercase letters in the same order finished off by the signature enthusiastic exclamation point, which dances around in some versions.

Now, 3D Model to Pinpoint Earthquakes

Scientists have developed a new 3D model of the Earth to allow them to pinpoint the sources of earthquakes and explosions around the world more accurately than ever. Sandia National Laboratories and Los Alamos National Laboratory partnered to develop a 3-D model of the Earth’s mantle and crust called SALSA3D, or Sandia-Los Alamos 3D. The model uses a scalable triangular tessellation and seismic tomography to map the Earth’s “compressional wave seismic velocity,” a property of the rocks and other materials inside the Earth that indicates how quickly compressional waves travel through them and is one way to accurately locate seismic events, Sandia geophysicist Sandy Ballard said.

Twitter to Solve Traffic Woes

A new method may put an end to traffic woes by collecting information on transportation problems following mass events, like football matches, using tweets made by citizens on Twitter, researchers say. “The ability of social networks to produce information on heavy traffic, road hazards, quality of service of public transportation and more is valuable to decision makers,” said Dr Tsvi Kuflik, the Head of the Information Systems Department at the University of Haifa.

Built using ASP.NET MVC and SQL Server framework, Kohinoor Accounting is application software which processes the daily transactions of business firms. It has wide range of features which are suitable for all kinds of enterprises. Kohinoor Accounting has double entry book keeping system and easy-to-use ledger maintenance. The software can perform VAT reporting, document management, workflow management, normal as well as periodic profit and loss statement reporting of group and sub-groups. Similarly, it can manage complete financial reports like cash/bank summary, day book, journal details, ledgers such as stock ledger, stock ledger with value and stock valuation, trial balance, profit and loss reports, balance sheet reporting and so on. Likewise, inventory management, product and customer wise analysis report, branch wise data entry and reporting can also be done easily using this software. Users can perform search within seconds in just a few clicks as it facilitates easy and fast retrieval of data and information through its search module. Kohinoor Accounting is fully scalable and customizable software which can be used to meet the need of customers. The official price of the software is Rs 25,000. However, KRB Software is offering Kohinoor Accounting at a discounted price of Rs 9,999.

Kohinoor Hotel Management System

Kohinoor Hotel Management is designed to fulfill the needs of data management for hotels. The software is a comprehensive system which is an integrated form of service management, point of sale (POS), hotel

T

reservation, report management, inventory management, front office management, human resource management and account and payroll management etc. Users can manage check-in and check-out of hotel guests, online bookings, house-keeping and track the employee

individually or to a group of students, parents and teachers/staff to inform them on a particular topic. Parents can access the software to monitor the progress of their children. Apart from academic tasks, Kohinoor Academy also generates accurate accounting and MIS reports of educational institutions. The official price of the application system software is Rs 50,000.

Kohinoor Hospital availability and their activities. Kohinoor Hotel Management is web-based application software which provides secured database structure with the authenticated login and multi user system that organizes stores and retrieves information in real-time. Kohinoor Hotel is suitable for all kinds of hotel, motel, inn, guest house, resorts and lodges. This multi-utility software is priced at Rs 100,000.

Kohinoor Restaurant

This management software can help in smooth operation of restaurants. Kohinoor Restaurant is an integrated form of service management, POS and restaurant reservation, report management, inventory management and accounting. The software can manage transaction maintenance, bill and report generation, kitchen order token (KOT) and bar order token (BOT), waiters commission management, periodic schemes and human resource and payroll in a very effective manner. The software can also manage lostand-found belongings of customers. Kohinoor Restaurant carries a price-tag of Rs 25,000.

Kohinoor Hospital is software for managing all operations, financial transactions, doctors, nurses, other personnel, visitors and patients of a hospital. According to the company, the Kohinoor Hospital enhances intra-organisation communication and coordination, increases staff productivity, helps in offering better quality services, improves risk management, optimises revenue recovery, reduces operating cost and eliminates transcription among other benefits. The software also for patient and surgical management, doctor, nurses and patient log in, doctor consultant and their schedule management, inventory management, emergency and ambulance services, patient and staff record maintenance is a web based application. This software also has features such as laboratory and pathology automation, operation room and ICU maintenance, internal messaging system, payroll system and accounting system among others. The developer of Kohinoor Hospital has priced it at Rs 600,000.

Kohinoor Manpower

Kohinoor Academy

Kohinoor Academy is an application designed for the daily academic and administrative operational needs of educational institutions. This software includes a wide range of functional modules and features which are scalable and customisable according to the need of organisations. Kohinoor Academy can effectively manage information of students and teachers, library data and human resource records. Users can schedule or re-schedule all academic activities smartly by using this software. This software helps in generation of routine, results and exam reports with accuracy. It also lets users to print mark sheet, character certificate and identity card. Kohinoor academy can be used to setup students and classes according to the subjects and schedule examinations. It also maintains the attendance of students and teachers. Similarly, users can also schedule school bus routes. Another impressive feature of Kohinoor Academy is the SMS Module, which enables users to send mobile messages

Kohinoor Manpower management application works as an information management system and processes every operation of a manpower enterprise. “We have focused on affordable software that is simple to implement and use,” claims KRB Software. This application keeps track of all applicants, employees, clients and companies. Likewise, it tracks daily transactions, monitors target achievements, account statements, eases follow up of applicants and it can be fully customised to meet the business requirements. According to the company, this application has features such as recruitment process management, complete information management of applicants, tracks status of available workforce recruited for foreign companies, document management, financial reports management, security rights management, multi branch management among others. Kohinoor Manpower can be purchased at Rs 40,000.

Samsung Unveils Smartwatch, New Galaxy Note

he era of smartwatches has arrived. Samsung rolled out its Galaxy Gear smartwatch last Wednesday at an event in Berlin. The company also introduced its new Galaxy Note 3 smartphone and the 2014 edition of its tablet the Galaxy Note 10.1. Samsung's Galaxy Gear smartwatch can make and receive calls, take pictures, run its own apps and has a voice control function that allows users to perform tasks by speaking to the device. To navigate the device, a user can

swipe the screen from side to side and from top to bottom. The smartwatch is seamlessly connected to a Galaxy user's smartphone and shows a user's

updates, like email or texts, on the device screen. Galaxy Gear will launch in more than 140 countries starting on Sept. 25. It will be available in six different colors and will have 10 different preloaded clock options for users to choose from. The company also unveiled Samsung's Galaxy Note 3 smartphone. The smartphone

houses a S-Pen, which helps unlock the functions of the device; Samsung's Knox security system, which helps protect the device from mobile malware; and a new multiwindow feature, which enables users to multi-task easier. The smartphone also features a 5.7-inch display screen, 13 megapixel rear camera, longer battery life, faster LTE and it is available in 10 different colors. Samsung's new high-resolution tablet, an updated Galaxy Note 10.1, is a 10-inch tablet that also syncs with the Gear smartwatch.


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9 - 15 September 2013 (24 - 30 Bhadra 2070 BS)

BRANDSPEAK

BUSINESS BRIEFS

T h i n k i n g

Have a Heritage Sleep, Balaji Now Eyeing on Carpet With almost a decade long experience, the company has become successful to surpass all other international brands.

Panchakanya Group Celebrates 40th Anniversary

Panchakanya Group has celebrated 40 years of its presence in the Nepali industrial sector. On the occasion of its annual Panchakanya Day event on August 31st, the Group organized a program for the celebration. The programme held at Hotel Radisson was attended by prominent figures from the various business and non business communities. The highlight of the program was the launch of the group’s first corporate magazine by Managing Director Pradeep Kumar Shrestha.

Colors Introduces Star 4.0

Colors Mobile has introduced Star 4.0 in its Xfactor series. The handset supports 3G SIM and 3G data connections. Xfactor Star has a 4 inch capacitive touch screen and runs on Android Jelly Bean 4.2.2. The phone is powered by 1.3 GHz dual core processor and has 512 MB of RAM. There is a 3.2 MP rear camera and a 0.3 MP front camera, and the camera comes with LED flash and supports panoramic shot mode. The phone is available at a price of Rs 11,000.

Bajaj’s ‘Dusavatar’

HH Bajaj, the authorized distributor and marketer of Bajaj Motorcycles in Nepal has introduced a new scheme for Dashain and Tihar called ‘Bajaj Dusavatar’. The scheme offers every customer purchasing Bajaj bikes instant cash prizes and weekly lucky draw coupon. The scheme revolves around the number 10, and offers weekly bumper prize of Rs 1,000,000 to 10 winners. Also, the campaign will last for a period of 10 weeks and the scheme celebrates the 10 years of two wheeler market of Bajaj bikes in Nepal. This offer is active from September 1 and is applicable throughout the country.

T o m o r r o w

By Bhawani Timilsina

B

eing one of the popular local brands ‘Heritage’ mattresses is the favourite choice among the consumers. And, if all goes well, the brand is going to be available in also carpet and furnishing products in near future. “Heritage, by its name, reflects that the product is classic. And that we are also exploring business opportunities in carpet and furnishing goods,” says, Hemraj Dhakal, Director of the Balaji Coir Industries Pvt Ltd (BCIPL). The mattress segment is the key component of the BCIPL. The product was introduced in 2004. “With almost a decade long experience, the company has become successful to surpass all other international brands. We have been attempting to assess quality and comfort through heritage mattress, he says. The company imports raw materials from India, Malaysia, China, Bangladesh, Thailand etc. “We design our products according to the requirements and demand of the consumers,” Dhakal said. The company used to import mattresses from India in initial phase. Later the company had to face numerous problems and they decided to start their own production in Nepal. The major raw materials are coconut fiber and latex that adds natural quality to the product. They follow an international technology

Hemraj Dhakal Director Balaji Coir Industries Pvt Ltd

MADE IN NEPAL during manufacturing process to ensure quality. “We have a lab testing facility and with its inception we have surpassed all the other imported products. Nepalis consumers prefer our brand as it assures both quality and comfort,” he claims.

The company has 90 outlets across the country. It also supplies its product to Tibet. The price of the mattresses ranges between Rs 3,500-Rs 25,000. “We have set the price with a view to make it affordable to the people of all classes,” Dhakal said. While sharing the success factors of the brand, he says,

The company has 90 outlets across the country. It also supplies its product to Tibet. The company has been manufacturing four types of mattresses called silver, gold, diamond and platinum (including super platinum). The company claims to have occupied 20-30 percent share of the total market, with product guarantee of five years.

“Our marketing strategy plays an important role to achieve success in this field. Our consumers know how to choose the best products on the basis of quality and durability. We can assure that our product is of best quality, giving high comfort.” He also mentions the

business advantage of the growing sense in the consumers about the advantages and drawbacks of using mattresses. With the tagline ‘all season mattresses’, the product is suitable to use during all seasons, says Dhakal. The carpet market has been slowly and gradually growing in Nepal. “At a time while the Indian products were flooding the Nepali market, our brand helped reduce the import quantity,” he claims. According to Dhakal, around Rs 100 million has been invested in the company. “Though the competition is not tough, it is very essential to adopt changes in the demand. As the market has been growing it becomes very necessary to deal with quality of product.” he said He feels that the consumers will be benefitted from using Nepalis brands that offer guarantee and warrantee services. As per a market survey, nearly 60 per cent market has been occupied by the local product, whereas 40 percent by the international brands.

YSRS in Pokhara

Yamaha conducted its Yamaha Safe Riding Science (YSRS) programme on August 30 in Pokhara College of Management in Nadipur, Pokhara. The programme was attended by 60 participants. The objective of such one-day workshops is to increase road safety awareness for both bikers and pedestrians. This kind of program has been already conducted in more than 12 colleges of Kathmandu valley. The event also featured the test ride of the new reloaded Yamaha FZ-S.

Hyundai’s Festive Offer

Laxmi Intercontinental P Ltd, sole authorized distributor of Hyundai Motors in Nepal has introduced a customer scheme named ‘Dashain Tihar Ko Offer Super Duper Bumper’ for this festive season. Under this scheme, Hyundai customers can get cash discount of up to Rs 500,000 as Super offer, 50 Tola Gold (5 Tola each to 10 persons) as Duper offer, and Bumper prize of two Hyundai Eons through lucky draw.

Head Office: EBL House, Lazimpath P.O.Box 13384, Kathmandu, Nepal Tel: 4443377, 4443863, 4443864, Fax: 977-1-4443160 Email: ebl@mos.com.np, Website: www.everestbankltd.com Swift: EVBLNPKA

Published and Edited by Chairman Madan Lamsal for New Business Age Pvt Ltd, Panchayan Marg, Thapathali, Kathmandu, PO Box: 14197, Tel: 4267717, Fax: 4268726, E-mail: thecorporate@abhiyan.com.np, Regd No : 77/067/68, C.D.R. Postal Regd. No. 72/067/068, Printed at: Jagadamba Press (P) Ltd.


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