Surya Nepal, Siddhartha Rana highest taxpayers

Surya Nepal has become the highest taxpayer and been honoured today.
Surya Nepal has already been honoured thrice in the past too. Likewise, Siddhartha SJB Rana is the top taxpayer under the individual category. Rana is involved in hotel, trading and travel sectors. He has been honoured continuously for the last six years as the top individual taxpayer.
Similarly, Dabur Nepal is honoured for being the highest exporter and Jagdamba Steel Industries for paying the highest taxes from among firms not selling tobacco or alcohol products. Among cooperatives, Chhimek Laghubittiya Bittiya Sanstha bagged the highest taxpayer award while Kamana Sewa Bikash Bank and Rastriya Banijya Bank were honoured among development and commercial banks, respectively. Similarly, Nepal Life Insurance Company is felicitated among the insurance companies.
In the Information and Technology sector, WorldLink Communication is the highest taxpayer and Taragaon Regency Hotel is honoured in the tourism sector for paying highest tax. Other companies to be felicitated are Annapurna Agro International, Manipal College of Medical Sciences, Agni Incorporate,  VS Services and Ghorahi Cement Industry.
The government honoured the highest taxpayers of the country – for promoting the taxpaying culture – under different categories on the occasion of the eighth National Tax Day, today.
Finance minister Dr Yuba Raja Khatiwada honoured the top companies in 15 categories at a programme organised by Inland Revenue Department (IRD). IRD has classified the highest taxpayers as individual, industry, agriculture, financial sector, insurance, tourism and trade categories.
On the occasion, IRD also awarded its 10 best employees for their performance.

Surya Nepal, Siddhartha Rana highest taxpayers

Siddhartha SJB Rana bagged the award for paying the highest amount of income tax in individual category, whereas Surya Nepal paid the highest tax among the companies. Likewise, Sipradi Trading paid the highest tax among trading companies for the last fiscal year 2016-17.
Rana – the executive chairman of Sipradi Trading – has bagged the highest taxpayer award for the fifth time in last seven years. The Inland Revenue Department (IRD) today honoured Rana and Sipradi Trading amid a function organised in the capital today, on the occasion of 7th National Tax Day.
Rana was awarded the highest taxpayer for the consecutive five years (2012-13, 2013-14, 2014-15, 2015-16 and 2016-17), whereas Sipradi Trading has earned the distinction of being the highest income tax payer among trading companies for the consecutive four years – from 2012-13, 2014-15, 2015-16 to 2016-17.
Along with being the executive chairman of Sipradi Trading, Siddhartha SJB Rana has been instrumental in consolidating and expanding various businesses in Nepal. As a young visionary in the Nepali corporate world, he was selected as the 'Global Leader for Tomorrow' by the World Economic Forum (WEF), Davos in 2001. Rana is a committed philanthropist in education, economic upliftment, heritage preservation and wildlife conservation. He has made the single-largest personal donation to Help Nepal Network (HeNN) that works in the field of health and education in rural Nepal. Rana was also awarded with the Karobar Excellence Award 2018 as the highest individual taxpayer of the country.
Likewise, Sipradi is a major player in automotive and allied business for over 37 years in Nepal. The company has been a sole distributor of Tata Motors, India and is an exclusive distributor of MAK Lubricants, Michelin Tires, Exide Batteries, TATA-Hitachi and other various line of products in Nepal. Sipradi was also honoured by Inland Revenue Department (IRD) for being the first company in Nepal to embrace and implement Central Billing Monetary System (CBMS) in the year 2017 and bringing all trading records of the firms into the government’s surveillance system. 
The government has honoured some 15 highest taxpayers under different categories today to promote the taxpaying culture in the country. Finance Minister Dr Yuba Raj Khatiwada honoured the top companies in 15 categories during the programme organised by the Inland Revenue Department (IRD).
Leaving the last year's highest tax payers telecom companies far behind, multinational company Surya Nepal was announced the highest taxpayer this year. Surya Nepal has been a top taxpayer twice in the past as well,
Probiotech Industries (agro and livestock sector) under the the Nimbus Holdings that deals with around 20 products in animal feed, another 20 in feed supplements and 20 more in fine chemicals, vaccines and medicines also bagged the award. Likewise, Chhimek Laghubitta Bittaya Sanstha (cooperatives and microfinance institutions), Nabil Bank (bank and financial institutions and remittance companies), Nepal Reinsurance Company (among insurance companies), Noble Medical College and Teaching Hospital (among health and education service providers) and F1 Soft International (IT sector), Taragaon Regency Hotels (tourism sector), Nepal Investment (companies with annual turnover up to Rs 400 million), Nepal Stock Exchange (highest amount of income tax among the list of companies which have annual turnover between Rs 400 million and Rs 800 million), Dabur Nepal and Himal Power.
Addressing the programme, finance minister Dr Khatiwada urged to pay tax. "Non-payment of tax would be a hindrance to the nation," he said, stressing on the need of raising awareness that even the lowest tax-payer is a respectable tax-payer.
Likewise finance secretary Dr Rajan Khanal, on the occasion, said that the government is planning tax reform and that some changes have been visible in the last few years.
Federation of Nepalese Chambers of Commerce and Industry (FNCCI) president Bhawani Rana, Confederation of Nepalese Industries (CNI) chair Hari Bhakta Sharma and president of Nepal Chambers of Commerce Rajesh Kaji Shrestha drew the government’s attention towards creating environment conducive for investment in the industrial sector by making industry-friendly taxation system.

Government damaging business environment

•    The government, which has allowed Birat Petroleum to sell petrol at Rs 130 per liter -- Rs 31 higher than the price fixed by Nepal Oil Corporation (NOC) -- is arresting drugs manufacturers on charge of promoting black-market.
•    A single-engine aircraft of Air Kasthamandap crashed on February 26. The government, without any further investigation, banned operation of single-engine aircraft across the country. Why and how was single-engine aircraft permitted, and why has it been banned with the ministerial decision?
•    Government agencies are confiscating Surya cigarette, stating that it was not carrying health warning message on 90 per cent of the packet, though the Act to Control and Monitor Tobacco, 2068 BS states the warning pictures should cover 75 per cent of the packet.

These are some of the examples that show how the government is destroying investment climate in the country. On one hand, the government claims that private sector is the engine of economic growth, and on the other it is discouraging and harassing the private sector, and promoting 'black economy'.
The decision to allow Birat Petroleum to sell petrol at Rs 130 per liter when NOC is selling it at Rs 99 per liter is an act of promoting black-market, according to consumer rights activists Jyoti Baniya. "The government itself is promoting the informal economy," he added.
The government is, in a planned way, harassing industrialists and encouraging black economy which will in turn send negative message to investors. President of Federation of Nepalese Chambers of Commerce and Industry (FNCCI) Pashupati Murarka said that recent incidents aimed at harassing private sector will send negative message to potential investors. "Industrialists are not criminals," he said, adding that the government was treating investors as criminals.
Prime Minister Khadga Prasad Sharma Oli and his cabinet members – from ultra-right to ultra-left politicians – repeatedly preach about promoting private sector and liberal economy. But in action, they are completely against the liberal economy and the private sector. Rather they are promoting crony capitalism, an industrialist said preferring anonymity. “The government is promoting market-distorting practices and crony capitalism in the name of encouraging private sector,” he said, adding that industrialists were only milking cow for them.
According to Advocate Jagdish Dahal, Nepali legal system is not development and economic prosperity-friendly. "Unstable governments and arbitrary decision of ministries are inflicting more damage on our efforts for economic development,” he added.
Any investor – be it domestic or foreign – invests in a country where there is policy stability, Dahal said, adding that the investors can be assured of their business age on the basis of policy. "However, instability in Nepal has been a headache for investors as the instable policy, including law, has damaged country's investment environment."
Industrialists also are surprised at the way policy keeps changing in Nepal. Vice president of Surya Nepal Ravi KC says that the government has every right to update policy according to time. He, however, says it must involve stakeholders concerned in discussions before changing laws, adding that one policy change can impact thousands of employees and billions of revenue to the government. "Likewise, frequent changes in policy will increase risks in business," Dahal said, adding, "Neither domestic nor foreign investors will invest in Nepal in such scenario."
The government has been eroding its capacity to spend development expenditure, and failing to create employment in the country, pushing thousands of youth to Gulf and Malaysia every year. It has not been able to amend acts and policies that have hampered development works, but is quick in amending acts and policies that discourage investors.
The government move is pushing industrialists to become traders as they do not want to take any risk by investing in industries, according to industrialists. They say that the government is to be blamed for shrinking contribution of the manufacturing sector to the economy. According to the Central Bureau of Statistics (CBS), the manufacturing sector is expected to grow by 2.35 per cent in 2015-16 compared to 2014-15.
Dahal attributes the government's moody policy-making for declining growth of manufacturing sector. "The current legal system is not development-friendly," he said, adding that the delay in courts have been a major deterrent to economic growth and private sector.
Likewise, the Doing Business Report of the World Bank has also revealed that Nepal's investment climate is not encouraging for doing business. In the Doing Business Report 2016, Nepal fell five notches to 99 due to weakness in regulatory and reform process.

Surya Nepal to hold Asha Social Entrepreneurship award

After an inspirational start last year, Surya Nepal Asha Social Entrepreneurship Awards 2012, has officially begun today with a ‘Call for Applications and Nominations’.
The award, sponsored by Surya Nepal, organised by ChangeFusion Nepal, and supported by National Business Initiative (NBI), is the only event of its kind in the country.
"It gives social entrepreneurs a way to positively impact the communities in which they live," according to the organisers. "The aim of this initiative is to encourage social entrepreneurship at the grassroots level as well as to support projects which create positive social/environmental change, and are sustainable, innovative, scalable and credible."
Last year, Surya Nepal Asha Social Entrepreneurship Award recognised five such winners for their achievements and encouraged others to follow the examples of individuals creating social, environmental and economic impact.
Chhahari Production, one of the winners of the Asha Social Entrepreneurship Award last year, is a project that empowers women through capacity building and income generation training. Selected from among 66 applicants, the project staff say the award not only gave them the much needed financial aid, but also built public awareness about the project and its work through media coverage.
"This year too, we announce the call for nominations/proposals for, the first and only one of its kind award, to recognise Nepali social entrepreneurs, who create value for people, planet and profit," the organisers said, adding that the award aims at encouraging people to become ‘job creators’ instead of ‘job seekers’.
The award will also bring those hidden heroes out to the public, award the best ventures, and provide all our applicants the opportunity to join our network and promote their products and services, they added. "The vision of the award is not only to celebrate the hidden heroes for their great initiatives, but also to showcase their ventures and the impact they have made on their communities."

Surya Nepal awards social entrepreneurs

The Surya Nepal Asha Social Entrepreneurship Award has been awarded today evening to five social entrepreneurs for the first time.
Surya Nepal has recognised the contribution of the ordinary people that have made changes in the society.
Ram Sapkota of Mountain Delights Treks and Expedition and Tukee Nepal, Jyamrung — for the impact that has been made in Jyamrung, Dhading with projects range from eco toilets, micro hydro electricity, and health to education; Sabita Maharjan of Kirtipur Hosiery for her contribution in cooperative that she started along with Kirtipur Hosiery that has generated employment making women financially independent; Shyam Badan Yadav of Kalash Milk Industry, Dhorey Village, Parsa for providing income generating sources through milk collection centre he has established and by distributing free livestock — some 39 to start with and increasing to 100 in 1.5 months — to poor people in the village of Dhorey and neighbouring villages; Vijaya Develoment Resource Centre of Nawalparasi for its contribution in mainstreaming different dimensions of development under one umbrella encompassing education, media, microfinance and various other thematic areas following its vision of an equitable, affluent and self reliant society; Chhahari Services of Kathmandu that caters to women with no skills to generate income by empowering them through capacity building and income generating trainings were honoured with the awards.
"There are many ordinary people doing extraordinary work to create social, environmental and economic value," the organiser said, adding that the five winners have been recognised for their achievements and should encourage others to follow these examples of individuals creating value for the people, planet and profit.
The vision of the award is not only to celebrate the hidden heroes for their great initiatives but also to showcase their ventures and the impact they have made.
"After an intense process of short listing amongst 66 applicants, to narrow it down to the winners, ventures were physically visited to verify all relevant information and documents," the organisers added.
The winners will each get a package which includes a cash prize of Rs 1000,00 from Surya Nepal along with the opportunity of networking through ChangeFusion Nepal.
Each of the winners will have to disclose how the funds will be used and the money will be handed over by ChangeFusion Nepal. Updates on each of the winning ventures will be regularly posted on the ChangeFusion Nepal Social Media sites as well as the website. Surya Nepal Asha Social Entrepreneurship Award 2011 is sponsored by Surya Nepal, organised by ChangeFusion Nepal and supported by NBI.

Nepal-India trade increases by 36 per cent: Sharma

The Indian Union Minister of Commerce, Industry and Textiles Anand Sharma expressed satisfaction that bilateral trade between India and Nepal has increased from $1,985 million in 2009-10 to around $2,700 in 2010-11 registering an increase of around 36 per cent.
Exports from Nepal to India have also grown from $452 million in 2009-10 to $476 million in 2010-11 — an increase of around 5.3 per cent, he said, during his meeting with his counterpart Anil Kumar Jha in New Delhi.
Sharma singled out hydro power sector for increased cooperation between the two countries. "It is estimated that sale of electricity from the 40,000 MW hydropower potential of Nepal can generate revenues of more than 10 billion dollar per annum. Nepal could also attract a lot of investment in manufacturing/services sector by overcoming its present power shortage” Indian Minister said, adding that in the recent past, several Indian private companies and joint ventures have been able to secure survey licences for development of about 8,200 MW hydro power projects in Nepal at an estimated cost of IRs 82,000 crores.
"It is important that the projects are started as early as possible,” Sharma said. Indian minister also pointed out the problem of local disturbances for the Indian Investors.
He also informed that India has accepted the Nepali request for use of Vishakhapatnam port and rail route through Singhabad (India)-Rohanpur (Bangladesh).
Approval of Nepal for the Letter of Exchange (LoE) sent in this regard is awaited. Nepal’s request for further facilitation of Nepal-Bangladesh trade through Kakarbhitta-Phulbari-Banglabandha route had also been agreed.
The meeting also explored India providing Buyers Credit to Nepali agencies for large project exports, especially in the infrastructure sector like roads, bridges, railways, power lines, sewerage plants, water treatment plants and housing from India. The credit can be provided under National Export Insurance Account (NEIA) through EXIM Bank for a maximum period of five to eight years.
Indian firms are the biggest investors in Nepal accounting for about 47.5 per cent of total approved foreign direct investments (FDIs). There are about 150 operating Indian ventures in Nepal engaged in manufacturing, services — banking, insurance, dry port, education and telecom — power sector and tourism industries.
Indian joint ventures in Nepal have contributed significantly to increase in Nepal’s exports to India. They also provide direct employment to around 30,000 Nepalis and indirect employment to more than twice the number.
Both governments have finalised the bilateral investment protection and promotion agreement during the four-day visit of Prime Minister Dr Baburam Bhattarai.
Sharma stressed on problems faced by Indian business in Nepal. He pointed out that Surya Nepal — a subsidiary of ITC Ltd, India — had to shut down permanently its readymade garment production because of long running labour problems.
He also touched upon the problems faced by GMR group. Such incidences will, over a period of time, have a negative effect, he added.
Meanwhile, Finance Minister Barsha Man Pun called on Indian Union Finance Minister Pranab Mukherjee on Saturday. Mukherjee assured Pun of India’s full cooperation and support in building-up various projects in Nepal.

Surya Nepal shuts garment unit

The biggest tax-paying company Surya Nepal — which has Indian multi-product group ITC holds 59 per cent stake — has decided to shut down its garments factory following prolonged labour unrest.
The factory that has been producing John Players and Springwood labels in Biratnagar was started in 2007 — three years after Surya Nepal diversified into garments from tobacco production.
But the militant trade unionism has forced the unit to pull down its shutters and the peoples like Bijaya Yadav of Morang have to suffer, as they have been earning their livelihood in Tankisinuwari-based Surya Nepal Garments.
"Many workers like me are left in a helpless situation after the management decided to shut down the industry because of the vested interest of few workers," he said, after receiving his last salary from the industry today.
The industry was closed from June 15 due to dispute between some workers and management after the agitating workers of UCPN-Maoits-affiliated Nepal Trade Union Workers' Organisation held management employees hostage demanding for hike in wages. The militant trade union had also closed the industries in the Sunsari-Morang corridor for eight days in April.
According to the industry's general manager Rabi KC, ITC had taken the decision yesterday to close the garment unit forever after ongoing talks with the trade union leaders failed to reach any conclusion.
"The decision has been taken after we had to cancel the orders from our clients," he added.
The industry management has distributed nearly Rs a total of 2.5 million in salaries to the workers through Standard Chartered Bank Nepal from the premises of Industies' Organisation Morang today.
KC also accused the UCPN-Maoist trade union in obstructing the regular works of the industry, after the management decided to dismiss 24 workers involved in the hostage-taking in April.
"The decision will not only hurt the workers but also the government as it will lose revenue," he added.
Tejlal Karna, a leader of the UCPN-Maoist-affiliated trade union, however said that the industry's decision to take action against the workers was illegal.
The industry, established with Rs 300 million investment, had been providing jobs to more than 600 workers and employees. Nearly 85 per cent of its products were being exported to the countries including US, Canada, France and EU.
The blue-chip company, operating with a paid-up capital of Rs 2 billion, last year paid the state revenues worth about Rs 7 billion.
Surya Nepal — which controls nearly 70 per cent of the cigarette industry in Nepal — has freshly invested about Rs 1,000-1,500 million to build a new tobacco factory in Tanahun district, which is expected to be operational by 2013.

Surya Nepal shuts garment unit

Surya Nepal Garment has closed down from today due to labour problem.
Since 3 PM yesterday (June 14, 2011) the workforce at the Surya Nepal garments factory at Biratnagar took hostage of around thirty managers on duty within the factory premises demanding that the company give them written assurances and guarantees for paying wages for the six days’ strike during last month.
The managers took a principled stand and requested that all managers on duty be immediately released before talks. However, the workforce did not listen and instead threatened and turned hostile.
They kept the managers, including a pregnant woman confined within the factory premises without food and water throughout the night.
After unsuccesful attempts, the company alerted the district security officials and sought their help to release the confined staff.
Today morning, the security officials and police entered the factory premises and tried unsuccessfully to settle the issues with the workforce in releasing the confined staff. The workforce not only refused to release staff but also refused food and water to them.
Finally at three in the afternoon, after a 24 hour siege, the police had to step in to forcibly release of the confined staff and take them to safety, outside the factory premises.
But the workforce started rampage within the factory premises. After the destructive activities of the workers, the police force had again to forcibly evict the rampaging workers from the factory premises.
The company has also discussed with all Trade Union bodies – major and fractional — and they have all denied their involvement in the activity and condemned the attack on Surya Nepal.
The Morang Chamber of Commerce also condemned the attack and has very clearly stated threat the rule ‘No Work, No Pay’ shall be applicable and binding to all.
The Company along with the District authorities and the Morang Chamber of Commerce has termed the strike and confinement of the company managers for over 24 hours without food and water a totally illegal act.Due to the extraordinary situation the company has declared a lockout, said the company.
Surya nepal is one of the largest garment unit in the country.
Earlier, the employers and the three major trade unions have entered into an agreement to implement 'No Work, No Pay', social security for the workers and hike the salary and the daily wages but the UCPN-Maoists splinter faction and some Tarai -based trade unions protested against the agreement.

Attracting more FDI key to economic development: DPM

Deputy prime Minister and finance minister Bharat Mohan Adhikari said that Nepal needs to attract foreign direct investment (FDI) in the hydropower, infrastructure and mines sectors.
"Nepal needs to attract more FDI from other countries including from India,” he said, inaugurating the 16th annual general meeting (AGM) of Nepal India Chamber of Commerce and Industry (NICCI) here in the valley today.
“The current security related issues are temporary because of the transition period the country is passing through,” he said, adding that Nepal should think of increasing its exports and take advantage from the rising economic powers like China and India. “India’s help is crucial in solving the power crisis and boost for the economic development,” he added.
“India has contributed a lot to the development of Nepal,” said Indian ambassador to Nepal Rakesh Sood. “Around 45 per cent of FDI in Nepal is from India, he said, adding that the Indian investments in Nepal have generated some 30,000 jobs directly and the double the number indirectly to the Nepalis.
However, he complained of the discouraging investment environment in Nepal for the Indian investors currently. “The current issues have discouraged the new investments from India,” he said, also urging Nepal to check on diversion of third country goods to India and Intellectual Property Rights violation of the popular Indian brands.
Sood opined that the NICCI can play a key role in boosting Indian investors confidence and further strengthen the bilateral economic and trade ties.
On one hand trade ties with India is increasing and the other the trade deficit is also increasing that has doubled to Rs 317 billion between 2008 and 2010.
"Nepal has to think on how to bridge the trade deficit gap,"
Federation of Nepalese Chambers of Commerce and Industry (FNCCI) president Kush Kumar Joshi, said, adding that Nepal could not take advantage of the Nepal-India Trade Treaty -- due to its own internal reasons -- that could help reduce the trade deficit.
Joshi also urged to open custom points and expedite refund of excise duty as stated in the treaty. Similarly, Nepal Chambers of Commerce (NCC) president Surendra Bir Malakar also requested to simplify the cross border trade. "Revised trade treaty between the two South Asian neighbours has addressed many issues," he said, adding that both the countries should encourage formal trade.
Welcoming the guests, NICCI president Arun Kumar Chaudhary said that Nepal could not harness the hydropower despite the regular power outage that could derail the development in the long run. "More than trade deficit, Nepal is suffering from Balance of Payment (BoP) deficit," he said, adding, there will be more issues once the trade increases. "The NICCI is playing the role of facilitator in the issues," he added.
NICCI has been established in 1994 to promote or make arrangements for promoting contacts and co-operation among industrialists, businessmen and other professional groups of Nepal and India, and work as a non-profit-making organisation.

Change of guard
KATHMANDU: NICCI on Tuesday elected its new team led by Sanjiv Keshava, general manager of Surya Nepal. He was executive committee member in the last committee led by Arun Kumar Chaudhary.

Insecurity forces Surya Nepal to start new plant in hilly west

Surya Nepal Pvt Ltd -- one of the largest tax payers in the country -- is in expansion mode as it is planning a new manufacturing plant in Kharenitar VDC-7 of Tanahun district.

After continued strikes and bandhs in Simara -- the Terai region -- where Surya Nepal's another manufacturing plant has been established some 22 years, the factory decided to start another plant in the hilly west.

The new manufacturing plant -- at Rs 240 million investment -- has a production capacity of three million stick cigarette per annum and will start its production within a year.

Though, it will create employment at a time when the economy is sailing through rough waters due to over-politicisation, it is also an indication that the Southern plains is growing more insecure for the industries.

"The industries in Terai are facing security problems due to mushrooming armed outfits after the end of a decade-long insurgency that has bleed the industries with extortion, abduction and violence blue," said Federation of Nepalese Chambers of Commerce and Industry president Kush Kumar Joshi.

One of the country's largest private sector enterprise with a turnover of over $100 million started its operations in 1986 with a single tobacco manufacturing factory in Simara of Bara district on the Nepal-India border as the Terai was the most preferred region for industries then.

To tackle the insecurity, the entrepreneurs have urged the government to set up Industrial Security Force. "The government had earlier agreed to set up Industrial Security Force, but it brought the new policy through the budget," he added.

However, the growing insecurity has forced the government to provide security to the industries, though Joshi claimed that the government's move is inadequate.

The government has in its budget for the current fiscal year announced to arrange a police post of five police personnel equipped with weapons to any manufacturing industry that offers employment for more than 500 Nepalis.

"However, Ministry of Industry is still working out on the draft of modality on providing security in line with budget," said the captain of the umbrella organisation of the private sector.

Surya Nepal that produces five brands of cigarettes was the second largest tax payer to the government in the last fiscal year.

Initially established as Surya Tobacco, the company has transformed itself as Surya Nepal in 2004 to diversify into garments manufacturing with its state-of-the-art plant in Biratnagar that produces John Player brand of clothing.

Top ten tax payers in the fiscal year 2009-10

1. Nepal Telecom -- Rs 9.66 billion

2. Surya Nepal -- Rs 5.93 billion

3. Gorkha Brewery -- Rs 3.09 billion

4. Spice Nepal -- Rs 2.07 billion

5. Nepal Investment Bank Ltd -- Rs 778.00 million

6. Nabil Bank Ltd -- Rs 747.44 million

7. Standard Chartered Bank Nepal Ltd -- Rs 655.67 million

8. Rastriya Banijya Bank Ltd -- Rs 611.95 million

9. Rastriya Beema Sansthan -- Rs 542.33 million

10. Everest Bank Ltd -- Rs 535.00 million

Top ten tax payers

Top ten tax payers for the fiscal year 2009-10

1. Nepal Telecom -- Rs 9.66 billion
2. Surya Nepal -- Rs 5.93 billion
3. Gorkha Brewery -- Rs 3.09 billion
4. Spice Nepal -- Rs 2.07 billion
5. Nepal Investment Bank Ltd -- Rs 778.00 million
6. Nabil Bank Ltd -- Rs 747.44 million
7. Standard Chartered Bank Nepal Ltd -- Rs 655.67 million
8. Rastriya Banijya Bank Ltd -- Rs 611.95 million
9. Rastriya Beema Sansthan -- Rs 542.33 million
10. Everest Bank Ltd -- Rs 535.00 million

Big industrial houses in eye of minimum wage storm

Militant trade unions are holding the nascent industries to ransom. Contrary to the government's tall talks on investor-friendly moves, the situation on the ground reveals a disturbing picture, especially on the Birgunj-Parsa corridor in the Tarai, where lots of industries are sufering the frequent labour disputes.
Unions have closed down at least two dozen industries, including Surya Nepal Pvt Ltd, a multinational company (MNC), today. The demand: salary hike for all employees. The result: the state exchequer is being deprived of millions daily. And leading the anti-industry assault is none other than the Maoist-affiliated All Nepal Trade Union Federation (ANTUF).
The industrialists are pleading helplessness in the face of unions' sponsored stir. The demand, insist business houses, are illegal since the workers are being paid in accordance with the minimum salary slab fixed by the government.
"We have agreed to comply with the minimum wage of Rs 4,600. Earlier, it used to be Rs 3,300. But, all the workers are demanding a similar raise, which is simply unacceptable," said Sanjeeva Keshava, chief executive officer, Surya Nepal Pvt Ltd. "The flat raise of Rs 1,300 to all is what they are demanding."
Badri Bajagain, vice-president, ANTUF, rubbished the charges. "We want a minimum salary fixed by the government, which has the following components; basic salary Rs 3,050 and Rs 1,550 dearness allowance that adds up to a consolidated sum of Rs 4,600," maintained Bajagain.
"We aren't targeting all and sundry. Of the 350 medium and large scale industries in the corridor, 70 per cent have fallen in line with our demand," he said. He also alleged that some big industrial houses are still getting away by paying Rs 2,200 as basic salary.
"It is in clear violation of the agreement reached on November 30. Federation of Nepalese Chambers of Commerce and Industry (FNCCI), an umbrella organisation of Nepali private sector, and representatives of six trade unions were party to that accord. As per the agreement, if any company has hiked salaries of late, then it will be adjusted in line with the present accord," added Bajagain.
Interestingly, the accord doesn't specify about the hike earmarked for higher salary holders.
"We have shut down all those companies, which refused to implement the agreement," said Dinesh Rai, central member, GEFONT, UML-affiliated union. He is also the president of Nepal Independent Workers' Union (NIWU).
Bishnu Rimal, vice-president, GEFONT, tried to deflect his union's involvement in the ongoing stir. "We have urged them to hold talks and come to an amicable settlement," reasoned Rimal.
Meanwhile, Nepali Congress-affiliated Nepal Trade Union Congress has also thrown its lot behind the rival bodies.