 |
Kathmandu Monday January 01, 2001 Paush 17, 2057.
|
Shrestha: From penniless to millionaire
Post Report
KATHMANDU, Dec 31 - Pushpa Man Shrestha, who began producing acrylic shawls
with a single handloom in 1986, has won the Top Exporter’s Award, twice within a span
of one and half decade of his business career.
Those who taught him the basics of the business do not have as high a
business profile as Shrestha, yet his modesty knows no bounds. Shrestha, however, did not
have a steady rise in his business. His has had a chequered career, to be frank.
Pushpa’s father, who deserted him in his infancy, died in 1964 when he
was 14. Immediately after his father’s death, his grandfather also died and after
four years his youngest uncle too passed away. The series of deaths compounded by hand to
mouth existence marred his adolescence.
Despite extreme hardships, Pushpa did manage to study and graduated in two
disciplines and became a headmaster in a high school in Burtibang of Baglung district, his
native village.
He quit teaching and came to Kathmandu in 1979. He met Bhimsen Thapa, his
teacher and a well-wisher, who employed Shrestha as a salesman in his curio shop in
Thamel. Later, Thapa switched to pashmina business and made Shrestha managing director of
Oriental Pashmina and Wool Industry in 1983.
Unfortunately, after one and a half year, the factory closed down but those
were the great learning days. Pushpa came to terms with the economics of business.
However, it was a hard blow to him. "It was one of the greatest problem in my life as
I had nothing to feed my wife and two children", he recalls bitterly.
It was Bhimsen Thapa who taught him the basics of business that he is
currently doing: pashmina weaving and export. In 1985, Pushpa began knitting acrylic
shawls after borrowing Rs two thousand from Prem Singh Thapa and a single handloom, that
too borrowed from an acquaintance. "Without my wife Lalu’s support, I could not
have achieved what I have now today," says Shrestha rating his life partner high. He
installed powerlooms in 1997.
Emboldened by the success of acrylic shawls, they began knitting pashmina.
Helmut, a German national and the captain of Thai Airways had contributed a lot in the
promotion of his business. He used to bring his friends to their modest outlet to buy
shawls, remembers Shrestha. Their business recorded a steady rise making him financially
strong, which allowed him to construct a three-storey building near Hotel Soaltee, a prime
location in the capital.
Nowadays, he rides a sleek Japanese car and owns a pashmina factory including
land worth over Rs 60 million plus other moveable and immovable property. However, his
business suffered a set back in 1995 due to political unrest but it bounced back to form
in 1997 further strengthening his financial condition.
Handicrafts’ Association gave away him the Top Exporter’s Award in
1998 and Nepal Chamber of Commerce (NCC) gave him the Top Exporter’s Award in 1999.
He exported pashmina products worth over Rs 35 million in 1998 and Rs 60 million in 1999.
Shrestha is happier with his international repute than the volume of
transactions he has made over the years. He says it is honesty and the honesty alone that
rescued him from serious financial crises in his business.
The humble businessman now exports shawls, scarves, throws, blankets,
sweaters, mufflers and various other pashmina products to foreign countries mainly to the
United Kingdom, Switzerland, Italy, Germany, Japan and the United States. The UK tops the
list of his buyers.
Recalling his difficult days, he says, "In 1995, my liability was
greater than my possession but I could not inform my wife about it fearing she would be
shocked. But, to my great surprise, she asked me to hand over all transaction to her. She
injected Rs 1.2 million out of her nest-egg to the business and revived it". Her
undying patience and encouragement inspired him to endure his struggle against adversity.
"She shared every bit of my hardships and happiness throughout the difficult
days," he credits his beloved wife.
Shrestha who upholds honesty as the secret of success, believes that lying is
the beginning of the end. He prophesies that Nepali pashmina products enjoys good
reputation in the international market thus has a very good future. He has also
contributed to the social development and says he certainly has some obligations to the
society.
Other Story
|
