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Vol.
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Business News |
According to the Export Promotion Committee, Momento Apparels (P) Ltd. is to receive the award for the largest overseas exporter of Nepal.
Momento, a ready-made government manufacturer and exporter company based in Jhapa, was presented the award also last year when the committee first started presenting the award.
Similarly, last year’s receipient of the award for the highest export to India, Dabur Nepal (P) Ltd., producer of Ayurvedic preparations, is to receive the award also this year.
How much they Exported (in 1999/2000)
Sector |
Firm |
Export value |
| Readymade Garments | Momento Apparels | US$ 12,945,470 |
| Woolen Carpets | Paramount Carpet Ind. | US$ 5,967,469 |
| Pashmina | Everest Pashmina Art | US$ 1,615,013 |
| Leather | Narayani Leather | US$ 981,790 |
| Manufacturing | ||
| Silver/jewelleries | New Himalayan Akash Export | US$ 579,200 |
| Metal Sclupture | Asiatic Traders & Exports | US$ 282,466 |
| Exports to India | Dabur Nepal (P) Ltd. | NRS.1,746,735,000 |
Subodh SJB Rana has been elected the new president of Nepal Incentives and Convention Association (NICA) by the AGM of the Association.
Rana is the Managing Director of Marcopolo Travels (Nepal) Pvt. Ltd. and succeeds Yogendra Shakya as president of NICA, a body engaged in promoting MICE tourism in Nepal.
Setting up a task force to suggest measures for improving the insurance sector, HMG has indicated that the forthcoming budget will come up with a program to separate life and general insurance businesses. Headed by Krishna Bahadur Deuja, former executive chairman of Rastriya Beema Sansthan (RBS), the task force has representatives from the Finance Ministry and the central bank.
Though it was decided long ago to separate these two lines of businesses, HMG has not been able to implement the decision as the state-owned composite insurance company, RBS, has been unable to get its books audited for long.
RBS has only one private sector competitor, National Life and General Insurance Company Ltd., in life insurance business. As the officials agree, a chunk of Nepal’s life insurance business goes to India due to the higher rate of bonus offered by Life Insurance Corporation (LIC) of India on the savings collected as premium.
Meanwhile, LIC and Amercian Life Insurance Company (ALICO) have been licensed to do business in Nepal. While LIC is to enter Nepal as a joint venture partner with a Nepali business house, Vishal Group, ALICO is allowed to operate through a branch. However, the license to ALICO has been sub judice and the hearings on a petition challenging the license are going on at the Supreme Court.
Radisson Hotel Kathmandu has received the President’s Award for the year 2000. The award is presented to best selected hotel from among over 400 hotels and resorts worldwide that bear the Radisson brand.
According to Radisson Kathmandu, the award is presented in recognition to the consistency in exceeding guest expectations.
Nepali Capital market is to have new capital instruments from the private sector companies available for trading in the near future if every thing goes as planned.
While the Blue Star Hotel (P) Ltd. has appointed Citizen Investment Trust as the trustee to issue secured debentures of Rs. 135 million rupees to be floated to the general public, a recently opened financial institution, Development Credit Bank Ltd. has applied with Nepal Rastra Bank for permission to float bonds for nearly Rs. 150 million with a maturity of five years.
Panchakanya Steel (P) Ltd. has received ISO 9001:2000 from Llyod’s Registrar Quality Assurance (LRQA) thus becoming the first Nepali manufacturer of steel rods to receive the coveted international quality certification.
According to the company sources, it took about a year for the company to receive the certification.
Panchakanya brand of steel rods have a 20% share in the market which consumed around 160,000 MT in the fiscal year 1999/2000, according to Managing Director of Panchakanya Steel, PK Shrestha, who is also the president of FNCCI.
ISO certification to Panchakanya has come at a time when it is claimed that around 70% of the steel rod units in the country remain closed down because of stiff competition. Panchakanya managed to survive the competition on the strength of its quality, claims Shrestha citing that his brand has always been the first in steel industry in terms of quality.
It was the first steel brand to receive the NS quality certification. Likewise, the brand was the first recipient of the nationwide quality award (NS-Quality Award 1999).
Other Nepali companies that are ISO certified include Nepal Ekarat Engineering Co (P) Ltd, Shree Distillery (P) Ltd., Hukam Pharmaceuticals (P) Ltd. and Pashupati Paints (P) Ltd., all of which have received ISO 9002 certification.
HMG has decided that Sundays will once again be black for those working in organizations providing essential services. From the next Nepali year that begins on April 14, offices of telecommunication, electricity, water supply, banks and financial institutions, etc. will open for six days (Sunday-Friday)
All public sector offices and also some private sector organizations like banks, had been enjoying two days weekend holidays on Saturday and Sunday according to the government’s decision taken last year. HMG has now reverted its decision, and has also brought down the number of public holidays.
While Nepali industries are reporting difficulties in international competition both in the domestic and foreign markets, largely due to the quality problems, the apex chamber of the country, FNCCI, has instituted a national level industrial and managerial excellence award called FNCCI National Excellence Award.
This will help in promoting a healthy competition among the industrial and business units of the country, expects Kush Kumar Joshi, Chairperson of the Productivity and Quality Promotion Committee of FNCCI.
Planned to be presented annually from this year on the occasion of the Industry Commerce Day which falls on 28th of Chaitra (10 April this year), the recipients of the Award are to receive a trophy. In addition, the participants may win prizes and commendation certificates. Thus, according to the brochure of the Award, there will be four levels of recognition which include Award, Prizes, Commendation for Significant Achievement and Commendation for Commitment to Total Quality Management.
However, the Award brochure also indicates that the prizes may not be given in a year when none of the contestants meet the qualification level set by the jury of the award. "Prizes may be given annually in each of the three categories, i.e. large, medium and small scale organisations. The best amongst the three in each category may be given the National Excellence Award", says the brochure.
According to FNCCI, the Award recipients are to be selected from among those who apply
for participation in the contest for the Award. The jury will then audit the organisations
for three broad criteria and assign scores
(0-1000) accordingly to compare the enterprises on a quality excellence scale. The three
criteria are sub-divided further into 31 sub-criteria (see box for the scoring model).
The trophy and logo for the Award can be used by the recipients for publicity and advertisement and the validity of the Award is three years, it is stated.
Unlike in other quality certifications or awards being issued by other bodies in Nepal, FNCCI National Excellence Award has developed an in-built system of information sharing between the Award recipients and others about the policies and strategies of successful institutions which many be emulated by other institutions.
There also is a system for providing feedback to the contestants by the jury about how to further improve the quality in the management of the organisation.
Business Age, Radio Sagarmatha and Artha Ko Artha are appointed the official media of the Award.
FNCCI National Excellence Scoring Model
| Driver (20%) | Systems (40%) |
Work System & Standardization 100 points (10%) |
Results (40%) |
| Institutional Policy, Planning and Commitment | Organization Form, Work Plan Development &
Deployment 100 points (10%) |
Customer Satisfaction & Relationship 150 points (15%) | |
| Future Plan 100 points (10%) | Operational Information Dissemination &
Utilization 100 points (10%) |
Employee Satisfaction 100 points (10%) | |
| Employees Development 100 points (10%) | Performance Results 150 points (15%) |
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