From the Desk of President and Managing Director
Nepal has recently embarked on a new phase by successfully completing the elections for Constituent Assembly, a desire which had remained unfulfilled for 50 years. The results of the election have clearly demonstrated that people want serious and total change. Perhaps the development strategies, focus on economy and the ability of the delivery mechanism to deliver what people wanted across the mountains to the low lands of Terai and by people representing different castes and ethnic groups remain, to a large extent, unfulfilled. As a consequence, new parties have been given a much larger mandate as against the old established hands. This is an important signal which is not only critical for the people in politics but also for people in business.
We need to be aware that our development efforts have to be channelized in a direction where we are able to reach out to a larger mass and also encompass such territories which otherwise remain outside the ambit of economic activities. This is not only our desire but also possible as we are already working cautiously towards the Group’s larger involvement in infrastructure projects like power, construction materials and real estate. These activities obviously will be located in rural areas which will create firstly investment and then followed by job and production. We need to accelerate the pace and now with no confusion or no form of double mind move ahead with full speed and vigour.
We need to simultaneously strengthen our systems and organization if we have to embark on these major initiatives which will involve billions of investment. We have come a long way since we took this decision and through larger participation of trained manpower of indigenous quality human resource and through larger emphasis on training, we will slowly make the organization as sustainable in terms of human resource.
Another area of our serious concern and challenge will be to once again turn around our pioneering initiatives which remained not so successful in the past i.e. in the field of real estate development and beverages, both alcoholic and non-alcoholic. We need to broaden the geographical reach of these projects through larger emphasis for the coming fiscal year. Another area where we are focusing now is to work with reputed partners who bring in substantial strengths and expertise and help the Group to expand in larger geographical territories in these businesses.
Lastly, it gives us immense pleasure to inform that after seeing the phase of very unhealthy competition in the field of noodle business, which left many of the noodle companies closed or suspended, we have been able to turn around this business and once again move towards growth. Not only our existing capacities are fully utilized, our affiliated international capacities are also fully absorbed. On both these fronts, we are planning rapid expansion which will give us further edge with our competition and make us more competitive.
We wish to thank all our stakeholders for supporting us in many of our initiatives; our dedicated staff members without whose sincere commitments these would not have been possible. Likewise, I have no doubts in my mind that with the pace at which the Group is moving forward, we would achieve our stated objectives without any compromise.
BINOD K. CHAUDHARY
President & Managing Director