Promoting Economic Literacy in Nepal

Published in New Business Age in 2014 The role of financial system is considered to be the key to economic growth. A well-developed financial system promotes investment by identifying and financing lucrative business opportunities, mobilizing savings, efficiently allocating resources, helping diversify risks and facilitating the exchange of goods and services. Economists have thus generally reached a consensus on the central role of financial system in economic growth. The theoretical argument is that policies to develop the financial system are expected to raise economic growth and, therefore, more developed countries have more developed financial systems. This supports the notion of Mackinnon and Shaw (1973) that the Government restrictions and policies hindering financial development (financial repression) ultimately impede the economic growth. In developing countries, examples of these restrictions and policies include interest rate ceilings, high reserve requirements, di...

Arm’s length principle:   The OECD guideline is the governing principle underpinning international corporate taxation. The principle determines the price one subsidiary of a multinational corporation should charge for a product or service when trading with another subsidiary of the same company or the parent company. The guideline states that companies should use the same price internally as they would if selling to an external company (i.e., at arm’s length). The arm’s length principle calls for multinationals to determine prices as if the subsidiaries were separate businesses rather than part of a single global entity. The principle has come under increasing criticism from outside experts, however. One disadvantage of the arm’s length principle is that it may not be useful when the object of a transaction is difficult to compare to others, such as services, intellectual property or unique goods. This weakness may help facilitate abusive transfer pricing. Automatic exchange o...

translated for good purpose शेयर खरीद गर्दा लगानीकर्ताले विभिन्न विषयमा ध्यान दिनुपर्छ । लगानीसम्बन्धी आफैले अध्ययन गर्नुपर्छ । यसका लागि आफूले लगानी गर्न चाहेको कम्पनीको वित्तीय विवरण अध्ययन गर्नुपर्छ । प्रत्येक कम्पनीले विभिन्न पत्रपत्रिका वा आप्mनै वेबसाइटमा वार्षिक तथा त्रैमासिक वित्तीय विवरण राखेका हुन्छन् । वित्तीय विवरणले कम्पनीको अवस्थालाई देखाएको हुन्छ, जसले त्यसमा लगानीसम्बन्धी निर्णय गर्न सहयोगी भूमिका निर्वाह गर्छ । वित्तीय विवरणमा मुख्य गरी खुद नाफा, प्रतिशेयर आम्दानी, खुद सम्पत्ति, जगेडा कोष, मूल्य आम्दानी अनुपात, नाफाको स्रोत, जोखीम व्यवस्था आदि हेर्नुपर्छ । खुद मुनाफा कम्पनीले आप्mनो खर्च तथा सरकारलाई बुझाउने करपछि बचेको रकम नै खुद मुनाफा हो । खुद मुनाफाबाट नै कम्पनीले आप्mना शेयरधनीलाई लाभांश वितरण गर्छ । त्यसैले, कम्पनीको खुद मुनाफाले कम्पनीको प्रस्तुतिलाई देखाउँछ । कम्पनीले जति धेरै नाफा आर्जन गर्न सक्छ, त्यति नै लाभांश पनि वितरण गर्छ । त्यसैले, कम्पनीको खुद मुनाफाको आकार हेरेर लगानी गर्नुपर्छ । प्रतिशेयर आम्दानी प्रतिशेयर आम्दानी शेयरबाट प्राप्त गर्न सकिने आम्...

लगानी जानकारी prepared during 2071 नयाँ आर्थिक वर्ष (आव) शुरु भएसँगै नेपाल स्टक एक्सचेञ्जमा सुचिकृत कम्पनीहरुले शेयरधनीहरुलाई धमाधम लाभांश दिने तयारी गरिरहेका छन् । त्यस्ता कम्पनीहरुले गत आव २०७०÷७१ को प्रारम्भिक वित्तीय प्रतिवेदन प्रकाशित गरिसकेका छन् भने कतीपयले त लेखापरिक्षण समेत गरेर साभारणसभाबाट पारित गर्ने तरखरमा छन् । कम्पनीहरुले आव पूरा भएको ६ महीनाभित्र वार्षिक साधारणसभा गरि सक्नुपर्छ । साधारणसभाबाट कम्पनीको वार्षिक प्रतिवेदन, लेखापरीक्षण प्रतिवेदन र सञ्चालकको प्रतिवेतनका साथै शेयरधनीलाई वितरण गर्न प्रस्ताव गरेको लाभांश समेत पारित गर्नु पर्छ । कम्पनी ऐन को दफा ८२ अनुसार कम्पनीहरुले अधिकृत तथा चुक्तापूँजी बढाउन, शेयर संरचना हेरफेर, नाम र मुख्य उदेश्य परिवर्तन गर्ने र गाभ्ने गाभिने विषयमा निर्णय गर्न विशेष साधारणसभा पनि गर्न सक्छन । शेयरधनीलाई लाभांश वितरण गर्नु कम्पनीहरुको दायित्व नै हो । यस दायित्व पूरा गर्न सुचिकृत कम्पनीहरुले अघिल्लो आवसम्मको सञ्चित नाफाबाट नियामकको मापदण्डअनुसार राख्नु पर्ने कोष र सम्भावित जोखिम व्यवस्था गरे बाँकी रहेको रकम लाभांसका रुपमा बाढ्ने गर्छन् ...

Translated for better purpose आय व्यवस्थापन गर्ने अधिकारी भनेको कम्पनीको आयलाई कहाँ कसरी लगानी वा परिचालन गर्ने भन्ने जिम्वेवारी पाएको व्यक्ति हो । कम्पनीको लागि आम्दानीका नयाँ स्रोतहरुको सृजना गर्ने वा आयको उचित व्यवस्थापन गर्न कसैलाई जिम्वेवारी नदिएसम्म तपाइको कम्पनीले क्षमता अनुसार आम्दानी गर्न सक्दैन । तर महत्वपूर्ण कुरा के हो भने तपाइको आफ्नो कम्पनीको आय तपाईले जति राम्रोसँग अरु कसैले व्यवस्थापन गर्न सक्दैन । प्रमुख आय व्यवस्थापक बन्नका लागि गर्नु पर्ने केही कुरा यस्ता छन् ः बजारप्रवद्र्धन रणनीति ः तपाईको मार्केटिङ्ग रणनीति के हो ? तपाइले यसै प्रश्नबाट काम शुरु गर्नुपर्ने हुन्छ । बजार प्रवद्र्धन र बित्र्रिm दुवै निकै फरक गतिविधिहरु हुन् । मार्केटिङ्ग भनेको तपाइले कसरी नयाँ ग्राहक बनाउनु हुन्छ भन्ने हो । आम्दानीको सृजना बिक्रिले गर्छ । तसर्थ बजारप्रवद्र्धनको वास्तवीक रणनीति बिना नयाँ बिक्रि सृजना गर्ने काम निकै कठिन बन्न पुग्छ । त्यसैले सर्वप्रथम आफ्नो हीतमा रहने गरी बजारप्रवद्र्धन रणनीति निर्माण गर्नुस् ।  तपाईको शिघ्र उन्नती तपाईसगै छ । बिक्रि व्यवस्थापन ः तपाईले बित्र्...

   Written during 2012 Private Sector's key priorities for the Development of Nepal Role of private sector for sustained economic development is always at the forefront. The present global economic experiences reaffirmed the notion that the invisible hand of the market would always contribute to accelerate growth process in a sustained manner. Market oriented development strategies encourage increasing private sector involvements in the development process, limiting the government’s role as a facilitator & developer of the private sector through the investments on building physical infrastructure and human resources so as to create an environment conducive for private sector development. Nepal, though embarked to the periodic development planning exercise as early as 1956, the majority of which was supported by the development partners, failed to realize the importance of private sector and market oriented policy in the process of overall development of the c...

Published  New Business Age, February 2012 Many developed as well as developing countries around the world have adopted the flexible exchange rate regime but Nepal has been practicing fixed exchange rate system with India. The reasons for the fixed exchange rate, according to Nepal are, to prevent speculation which may arise due to its open boarder & concentrated trading, structure of Nepalese economy and high concentration of trading volume and pattern with India. The Nepalese currency (NPR) has been depreciated against USD by 21.13 % i.e. from NPR 71 to NPR 86 for one USD during the second half of 2011. The depreciation was due to the pegged or fixed exchange rate regime between India and Nepal rather than the unfavorable inflation, interest rates or weak performance of the other economic indicators of Nepal.  The Indian currency (INR) has been depreciated against US dollar and other major international currencies due to the volatility in International curre...