Best Wishes to NAC
Read the cover story on international airlines operating in Nepal (New Business Age, February 2015 issue). It is good that the Nepal Airlines Corporation has got a brand new aircraft from Airbus and will acquire another aircraft from the same company in April. With two new aircraft in its international fleet, let’s hope that the national flag-bearer will increase its market share in the country’s international aviation business which has so far been largely dominated by foreign airlines. Gradually, NAC should acquire more aircraft and regain its lost glory. My best wishes to NAC!
- Siddharth Thapa, Thapathali
Thanking Dr Khatiwada
The interview of Dr Yuba Raj Khatiwada, is very insightful. The outgoing Governor of Nepal Rastra Bank (NRB) will be regarded as one of the most successful central bankers in Nepal. The policy he implemented not only saved the country's economy and particularly the financial sector from facing a possible crisis following the real estate bubble burst in 2009/10. Back then, the housing and land prices spiked dramatically defying the economic fundamentals of the country. It was due to the speculative real estate trading that did not match the market realities of Nepal. Had there been a full-blown asset price bubble burst, Nepal would have faced similar situation the western economies saw following the collapse of Lehman Brothers in United States and debt crisis in many Eurozone countries.
Similarly, the initiating the merger of banks and financial institutions is also another successful effort of Dr Khatiwada. He and his team knew the dangers the oversized and overinflated banking system pose to the country's economy. We should thank Dr Khatiwada for his endeavors and active leadership that has made the banking sector and real estate business orderly.
- Ujjwal Lamichhane Gurung, Pokhara
Cheers to Bacardi!
Bacardi, the renowned global distiller has finally arrived in Nepal. Nepali liquor lovers deserve this quality product after a long wait. It feels nice to know that Bacardi has partnered with the Nepali company Rolling River Distillers for bottling their world famous white rums. We can now have the acclaimed white rum series labeled 'Bottled in Nepal.'
In recent years, global brands have found Nepal as a booming market. With the start of authorised sales of famous brands, we can hope that grey or illegal distribution of imported products will eventually reduce or stop. This will add government revenues and the money that the consumers pay for buying such products will fall into the right hands. The government, thus, need to harmonize the trading laws creating more space to the authorised importers to encourage the official trading.
- Sabina Sharma, Kathmandu
Lessons from the Downfall of UTL
Reading the article about the crisis-marred telecom operator, United Telecom (UTL), certain thought swirled in my mind. The company which was considered a rising telecommunication service provider until a few years back is now forced to reduce its major operations with the number of subscribers declining significantly. The mismanagement and mishandling of the company and its services has eventually led the company to a very difficult situation. Other Nepali telcos are achieving milestone in services and profit. But UTL has taken a downhill journey. Lets hope other companies will a lesson or two from UTL's downfall.
- Samjahana Shrestha, Butwal
A Good Option for Drinkers
I liked the story on alcoholic beverages containing medicinal herbs (Bio Tech Spirits: Healthier Drinking Option, New Business Age, February 2015 issue). The idea is innovative. The company producing such beverages has provided a better and healthier option to those who drink alcohol. I hope that those who must drink will shift to ‘Bio with natural herbs’. And as claimed by the article, one doesn’t get hangover after consuming these drinks.
- Bishal Rana, Bishalnagar
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