Partners in Economic Growth
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The government, people, donors, media and the like have been always considered the major actors or partners of development. However, recently, a new actor has been getting increased attention and all the praises. It is the private sector that has received praises along with responsibilities as being one of the major partners in development process. The private sector’s increased role in investment for producing and offering services and products along with infrastructure development projects not only produces those necessities but also run the cycle of economy that benefits general public and the economy in totality. In Nepal, the role of the private sector is also being gradually recognised. The general perception of the business community of being just profit maker to being actor of development is changing slowly. And with this change, their responsibility and faith of them is also altering. Likewise, their responsibilities and the business ethics also has gained more validity and the entire doing business is moving towards the concept of social and responsible business practices. These are all because of the increased recognised role and the contributions of the private sector. In Nepal, it is developing and will soon reach the next level in the near future.
- Sandesh Sharma, Gothatar, Bhaktapur
Tourism Infrastructures
The article titled “Brand Nepal in NTY 2011,” published on Newbiz under brand talk column highlights the need of branding Nepal for greater level of tourism development. It is true that we Nepalis are not making an effort to develop tourism in our country. However, it is also a fact that all the tourist destinations do not have basic components of tourism. It is hard to promote destinations based on their specialty only, without developing basic and necessary tourism infrastructures.
- Sayaka Shrestha, Via website
Merger Information
The cover story of New Business Age published on June 2013 issue titled Nepali Banking in Transition through Mergers and IPOs was quite interesting to read. It would be better if you could add the latest data and also latest rules and regulations of Nepal Rastra Bank. This page is very useful for banks and financial institutions those are in the merger process. Thank you for providing detailed information about merger. I also believe that merger is the best option also for shareholders’ benefits.
- Lok Nath Bhusal, Via website
Unsafe Hospitals
The story titled ‘Health Is Wealth: The Rise Of Private Hospitals In Nepal’ published on September 2013 issue of New Business Age story misses out the point on how the private hospitals have been out of control and failing to comply with the country’s regulations. When the government imposes regulations, it is for the safety of the public that these hospitals claim to serve. There is no excuse for hospitals to not comply with government rules for becoming earthquake resistant just because it was built over a decade ago. As a journalist, you should be pinpointing how these hospitals are so vulnerable to an earthquake and in the end jeopardising the safety of the patients. If you think that the government is unnecessarily imposing the regulation for the sake of the hospital’s own safety, then this is really backward thinking. Research more and talk to government officials and local earthquake experts on why earthquake resistant hospital building is needed.
- Hira Shrestha, Via website
Financing Growth
Banks and financial institutions have a great role in being a partner of economic growth. However in Nepal, as said by the article, The Finance-Growth Synergy, published in New Business Age’s January 2014 issue, the financial system is dominated by the commercial banks, that is quite similar to the situation of other developing countries like Nepal. This is because they have quite larger capital base compared to other financial institutions. As the number of commercial banks in Nepal is quite high, their share of financing too is relatively higher. Besides that, the money flow and supply is also guided by the monetary policy of the country. Appropriate policy and prudent functioning of the relevant stakeholders also fuel the growth rate with better utilisation of the capital and proper management of liquidity in the market. Therefore, policies must be formulated in such a way that the financing system should be able to propel the economic growth.
- Nischal Dhungana, Bansbari, Kathmandu
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