ljj/0f kq - sebon.gov.npsebon.gov.np/uploads/uploads/xl2wzvyhmpt3h4isbtg95awenlsv9p… · ljj/0f kq...
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sDkgL P]g, @) # cGtu{t ;+:yflkt / ;+rflnt
j8f g+ !, xflQ;f/, sf7df8f+}, g]kfn
kmf]g g+M (&&–)!–$$!(#(#, $$!(#($
j]j;fO6:www.ruruhydro.com,Od]n: [email protected]
sf]
-sDkgL P]g @) # sf] bkmf @# sf] pkbkmf -!_, lwtf]kq ;DaGwL P]g, @) # sf] bkmf #) sf] pkbkmf -!_ / lwtf]kq lgisfzg tyf afF8kmfF8 lgb]{lzsf, @)&$ cGtu{t k|sflzt_
ljj/0f kq
sDkgLn] cf gf] hf/L k"FhL ? $),&&,)%,%))÷– -rfln; s/f]8 ;txQ/ nfv kfFr xhf/ kfFr ;o dfq_ sf] @)Ü cyf{t\ *,!%,$!! lsQf ;fwf/0f z]o/ ;j{;fwf/0fsf] nflu lgisfzg
ug]{5 . h;dWo] o; ljj/0f dfkm{t hf/L k"FhLsf] !)Ü cyf{t\ ?= $,)&,&),%))÷– -rf/ s/f]8 ;ft nfv ;Q/L xhf/ kfFr ;o dfq_ /sd a/fa/sf] ?= !)) c+lst b/sf $,)&,&)%
lsQf ;fwf/0f z]o/ cfof]hgf k|efljt If]q u'NdL lhNnfsf afl;Gbfx?sf] lgldQ lwtf]kq lgisfzg tyf afF8kmfF8 lgb]{lzsf, @)&$ sf] clwgdf /xL lgisfzg u/L laqmL ljt/0f ul/g]
5 . ;fy}, cfof]hgf k|efljt If]q u'NdL lhNnfsf afl;Gbfx?nfO{ z]o/ afF8kmfF8 u/] kZrft ;j{;fwf/0fnfO{ hf/L k"FhLsf] !)Ü cyf{t ?=$,)&,&), ))÷– /sd a/fa/sf] ?= !))÷–
c+lst b/df lk|ldod jfkt ?= @)÷– yk u/L hDdf d'No ? !@)÷– df $,)&,&) lsQf z]o/ ;fj{hlgs lgisfzg ul/g]5 . ;f] dWo] *,!%$ lsQf -@ k|ltzt_ sd{rf/Lx?nfO{ /
@),#*% lsQf -% k|ltzt_ ;fd"lxs nufgL sf]ifsf] nflu ;'/lIft u/L afFsL #&(,! & lsQf ;fwf/0f z]o/x?sf] ;fj{hlgs lgisfzg ul/g]5 .
b/vf:t;fy k|lt z]o/ ?= !)).— sf] b/n] cfof]hgf k|efljt If]q u'NdL lhNnfsf afl;Gbfsfnflu / cGo ;j{;fwf/0fnfO{ lk|ldod /sd ?= @)÷– yk u/L hDdf
d"No ?= !@)÷– sf] b/n] ztk|ltzt e'QmfgL dfu ul/Psf]
ljj/0f jf:tljs -?= xhf/df_ k|If]lkt -?= xhf/df_**
2074/075 2075÷076 2076÷077 2077÷078 2078÷079 2079÷080
;l~rt gfkmf÷gf]S;fg 32,640 35,674 61,447 77,060 99,751 116087 k|lt z]o/ g]6jf]y{ -?=_ 110.01 110.94 118.84 120.90 126.47 130.47 k|lt z]o/ cfDbfgL -?=_ 10.46 10.93 17.90 14.36 15.57 14.01 g]6jf]y{df k|ltkmn -Ü_ 9.51% 9.85% 15.06% 11.87% 12.31% 10.74%
cfof]hgfsf] s"n nfut M ?= &$$,%@!,(!)÷–
k|lt d]ufjf6 nfut ;DaGwL ljj/0f M cfof]hgfsf] k|lt d]ufjf6 nfut ?= !$*,()$,#*@÷– /x]sf] 5 .
ljB't pTkfbg cg'dltsf] afFsL cjlw M cg'dltkq axfn /xg] cjlw ldlt @) (÷)$÷#) b]lv @!)$÷)$÷@( ;Dd /x]sf]n] @& jif{ afFls /x]sf] 5 .
;fwf/0f nufgL lkmtf{ x'g] cjlw M %=@$ jif{
l8:sfp06df nufgL lkmtf{ x'g] cjlw M *=$@ jif{
nufgLdf x'g] hf]lvd ;DaGwL pb\3f]if0fM
lwtf]kqdf ul/g] nufgLdf hf]lvd x'g] ePsf]n] To:tf] hf]lvdsf] d"Nof+sg ug]{ k|d'v bfloTj nufgLstf{ :jo+sf] x'g]5 / lwtf]kqsf] lgisfzg d"Non] ;"rLs/0f kZrft lwtf]kq
ahf/df x'g] sf/f]af/ d"No ghgfpg] x'Fbf o; ljj/0fkqsf] bkmf * df pNn]lvt hf]lvdx? ;d]tsf] cWoog u/]/ dfq nufgL ;DaGwL lg0f{o lng ;'emfj ul/G5 .
o; ljj/0fkq dfkm{t cfof]hgf k|efljt If]q u'NdL lhNnfsf afl;Gbfsfnflu ljqmL ljt/0f u/]sf] z]o/ ;j{;fwf/0fsf nflu lgisfzg u/]sf] z]o/ afF8kmfF6 ePsf] ldltn] tLg jif{ k"/f
geP;Dd c? s;}nfO{ laqmL jf x:tfGt/0f ug{ kfOg] 5}g .
g]kfn lwtf]kq af]8{af6 ljj/0fkq :jLs[t ePsf] ldlt M @)&&÷!)÷@! sDkgL /lhi6«f/sf] sfof{nodf ljj/0fkq btf{ ePsf] ldlt M@)&&÷!)÷@&
cfof]hgf k|efljt If]q u'NdL lhNnfsf afl;Gbfx? tyf ;j{;fwf/0fx?sf] nflu Go"gtd clwstd
!) lsQf $)),))) lsQf
lgisfzg v'nf x'g] ldlt @)&&÷!!÷)& ut] -a}+lsË ;do kZrft\_
lgisfzg aGb x'g] ldlt -l56f]df_ @)&&÷!!÷@! ut] -a}+lsË ;do kZrft\_
lgisfzg aGb x'g] ldlt -l9nf]df_ @)&&÷!@÷)* ut] -a}+lsË ;do kZrft\_
cfof]hgf k|efljt If]q u'NdL lhNnfsf afl;GbfnfO{ lgisfzg u/]sf] z]o/ k"0f{ ?kdf ljqmL geO{ afFsL /x]df afFsL /x]sf] z]o/ ;j{;fwf/0fsf] nflu yk u/L lgisfzg ul/g] 5 .
;j{;fwf/0f z]o/wgLx?sf] nflu ;fj{hlgs lgisfzg cfof]hgf k|efljt If]qsf afl;Gbfx?sf] z]o/ afF8kmfF8 kZrft\ ;"rgf k|sflzt u/L hfgsf/L u/fO{g]5 .
PgPdla Soflk6n lnld6]8
Gffukf]v/L, sf7df8f}+
kmf]gM (&&–!–$$#&(^#, ˆofS;M (&&–!–$$#&(^) Od]n: [email protected] j]j;fO6M www.nmbcl.com.np
? ? hnljB't kl/of]hgf lnld6]8
Ru Ru Jalbidhyut Pariyojana Limited
lgodg lgsfosf] hjfb]xLtf g/xg] pb\3f]if0f M
o; ljj/0fkqdf pNn]lvt lwtf]kq ;fj{hlgs lgisfzgsf] nflu tof/ ul/Psf] o; ljj/0fkqnfO{ lwtf]kq ;DaGwL P]g, @) # adf]lhd g]kfn lwtf]kq af]8{n] :jLs[tL k|bfg u/]sf]
5 . o;/L af]8{n] ljj/0fkq :jLs[tL k|bfg u/]sf] sf/0faf6 s;}n] klg g]kfn lwtf]kq af]8{, sDkgL /lhi6«f/sf] sfof{no jf ;Da4 cGo lgodg lgsfon] ljj/0f kqdf pNn]lvt
s'/fsf] ;Totf jf lgisfzgstf{ jf cfof]hgfsf] cfly{s ;Ifdtfsf] af/]df s'g} k|sf/sf k|Tofe"t u/]sf] jf lhDd]jf/ lnPsf] dflgg] 5}g .
;+:yfks tyf ;+rfnsx? tyf ;+:yfks z]o/wgLx?sf Psf3/sf] ;b:on] ;d]t ;fj{hlgs lgisfzgdf cfj]bg lbg kfpg] 5}g .
qm]l86 /]l6Ë ;DaGwL ljj/0f
o; ? ? hnljB't kl/of]hgf lnld6]8nfO{ ICRA Nepal Limited n] ldlt @)&&÷)$÷!% df ;dodf g} ljQLo bfloTj k'/f ug{ ;Ifd /x]sf] dWod:t/sf] ;'/lIft sDkgL
hgfpg] ICRANP-IR BBB (Prounced as ICRA NP Issuer Rating Tripple B) k|bfg u/]sf] 5 . pQm /]l6Ësf] cjlw hf/L ldltaf6 Ps jif{;Dd /xg]5 . ;f]
;DaGwL ljj/0f o; ljj/0fkqsf] bkmf @@ -6_ df pNn]v ul/Psf] 5 .
lwtf]kq lgisfzg tyf laqmL k|jGws M
1
v=!= ljj/0fkqdf k|of]u ePsf k|fljlws tyf cGo zAbfjnLsf] kl/efiff M
s_ æljj/0fkqÆ eGgfn] ;fj{hlgs ?kdf z]o/ lgisfzg ug{ lwtf]kq ;DaGwL P]g, @) # sf] bkmf #) tyf sDkgL P]g, @) #
sf] bkmf @# cGtu{t tof/ kf/L k|sflzt lgisfzg sDkgLsf] ;Gbe{df nufgLstf{x?nfO{ hfgsf/L lbgsf] nflu tof/ ul/Psf]
k|:t't k'l:tsfnfO{ ;Demg' kb{5 .
v_ ælwtf]kq lgisfzg tyf laqmL k|jGwsÆ eGgfn] PgPdla Soflk6n lnld6]8, gfukf]v/L, sf7df8f}+nfO{ ;Demg' kb{5 .
u_ ælwtf]kqÆ eGgfn] ;+ul7t ;+:yfn] hf/L u/]sf] z]o/, :6s, af]08, l8j]Gr/, l8j]Gr/ :6s jf ;fd'lxs nufgL of]hgf ;DjGwL
k|df0f kq jf g]kfn ;/sf/n] hf/L u/]sf] jf g]kfn ;/sf/sf] hdfgtdf ;+ul7t ;+:yfn] hf/L u/]sf] C0fkq, artkq jf
a08 ;Demg'k5{ / ;f] zAbn] lwtf]kqahf/ dfkm{t sf/f]af/ x'g ;Sg] jf x:tfGt/0f x'g ;Sg] elg af]8{n] tf]lslbPsf] cGo
lwtf]kq jf To:tf] lwtf]kq v/Lb , laqmL jf ljlgdo ug]{ ;Sg] clwsf/kq ;d]tnfO{ hgfpFb5 .
3_ æ;+ul7t ;+:yf÷sDkgLÆ eGgfn] ;fj{hlgs lgisfzgstf{ sDkgL ? ? hnljB't kl/of]hgf lnld6]8, sf7df8+f+}nfO{
;Demg'kb{5 .
ª_ æ;+sng s]Gb|Æ eGgfn] ;fj{hlgs lgisfzgsf] nflu tof/ ul/Psf] ljj/0fkq / b/vf:t kmf/d k|fKt ug{ ;lsg] tyf b/vf:t
kmf/d ;fy /sd a'emfpg ;lsg] u/L tf]lsPsf ;+:yfx?nfO{{ ;Demg' kb{5 .
r_ ælgisfzg a}+sÆ eGgfn] ;fj{hlgs lgisfzgaf6 ;+sng x'g cfPsf] /sdnfO{ hDdf ug{sf] nflu tf]lsPsf] jfl0fHo a}+s jf
/fli6«o :t/sf] ljsf; a}+snfO{ ;Demg' kb{5 .
5_ ælgodg lgsfoÆ eGgfn] g]kfn lwtf]kq af]8{, sDkgL /lhi6«f/sf] sfof{no tyf ljB't lgodg cfof]unfO{ ;Demg' kb{5 .
Hf_ æ;+:yfks, ;~rfns, k|d'v sfo{sf/L clws[t tyf Joj:yfkgÆ eGgfn] ? ? hnljB't kl/of]hgf lnld6]8sf] ;+:yfks,
;~rfns, sfo{sf/L k|d'v tyf Joj:yfkgnfO{ ;Demg' kb{5 .
em_ æaf]8{Æ eGgfn] g]kfn lwtf]kq af]8{nfO{ ;Demg' kb{5 .
_ æcfof]hgf k|efljt If]qÆ eGgfn] cfof]hgf k|efljt If]q u'NdL lhNnfdf :yfoL a;f]af; ug]{ g]kfnL gful/snfO{ hgfpFb5 .
v=@ ljj/0fkq tyf b/vf:t kmf/d k|fKt ug]{ / a'emfpg] :yfg M
ljj/0fkq k|fKt ug]{ :yfgsf] gfd / 7]ufgf
l;=g+ ljj/0f—kq k|fKt ug]{ :yfgsf] gfd / 7]ufgf
!= PgPdla Soflk6n lnld6]8, gfukf]v/L, sf7df8f}+ / j]j;fO6 www.nmbcl.com.np
@= ? ? hnljB't kl/of]hgf lnld6]8, xflQ;f/, sf7df8f}+ / j]j;fO6 www.ruruhydro.com
l;=g+ b/vf:t kmf/d k|fKt ug]{ / a'emfpg] :yfg M
cfof]hgf k|efljt If]q u'NdL lhNnfsf afl;Gbfx?sf] xsdf M
!= cfof]hgf k|efljt If]q u'NdL lhNnfsf :yfgLo afl;Gbfx?sfnflu lgisfzg tyf laqmL k|jGwsn] tf]s]sf] a}+s tyf ljQLo
;+:yfx? tyf g]kfn lwtf]kq af]8{af6 l;–cf:af (C-ASBA) ;b:otf k|fKt u/]sf ;Dk"0f{ a}+s tyf ljQLo ;+:yfx? / ltgsf
zfvf sfof{nox? .
@= zfOg /];'Ëf 8]enkd]06 a}+s lnld6]8, zfvf sfof{no, tD3f;, u'NdL
#= zfOg /];'Ëf 8]enkd]06 a}+s lnld6]8, zfvf sfof{no, v}/]gL, u'NdL
$= zfOg /];'Ëf 8]enkd]06 a}+s lnld6]8, zfvf sfof{no, zflGtk'/, u'NdL
%= zfOg /];'Ëf 8]enkd]06 a}+s lnld6]8, zfvf sfof{no, dh'jf, u'NdL
^= zfOg /];'Ëf 8]enkd]06 a}+s lnld6]8, zfvf sfof{no, jfld6S;f/, u'NdL
&= zfOg /];'Ëf 8]enkd]06 a}+s lnld6]8, zfvf sfof{no, an]6S;f/, u'NdL
*= ul/df ljsf; a}+s lnld6]8, zfvf sfof{no, tD3f;, u'NdL
(= ul/df ljsf; a}+s lnld6]8, zfvf sfof{no, zflGtk'/, u'NdL
!)= Unf]jn cfOPdO{ a}+s lnld6]8, zfvf sfof{no, dh'jf, u'NdL
!!= Unf]jn cfOPdO{ a}+s lnld6]8, zfvf sfof{no, uf}+8fsf]6, u'NdL
!@= s'df/L a}+s lnld6]8, zfvf sfof{no, l/8L, u'NdL
;j{;fwf/0f z]o/wgLx?sf] xsdf M != ;j{;fwf/0fsf] nflu g]kfn lwtf]kq af]8{af6 l;–cf:af (C-ASBA) ;b:otf k|fKt u/]sf ;Dk"0f{ a}+s tyf ljQLo ;+:yfx? /
ltgsf tf]lsPsf zfvf sfof{nox? .
cfof]hgf k|efljt If]q u'NdL lhNnfsf :yfgLo afl;Gbfn] z]o/ v/Lb cfj]bg k|fKt ug{sfnflu b/vf:t kmf/d jfkt ?=@÷–
-b'O{ ?k}ofF_ z'Ns a'emfpg' kg]{5 . cfof]hgf k|efljt If]q u'NdL lhNnfsf afl;Gbfsfnflu b/vf:t kmf/fd ? ? hnljB't kl/of]hgf
lnld6]8sf] j]e;fO6 www.ruruhydro.com tyf PgPdla Soflk6n lnld6]8sf] j]e;fO6 www.nmbcl.com.np af6
;d]t 8fpgnf]8 ug{ ;lsG5 .
2
u=!=lwtf]kq lgisfzg tyf laqmL k|jGwssf] pb\3f]if0f M xfdLnfO{ ? ? hnljB't kl/of]hgf lnld6]8 tyf o;sf ;+:yfks÷;+rfnsx?n] pknAw u/fPsf] ljj/0f tyf hfgsf/Lx?sf]
cfwf/df To; ;+:yfsf] Joj:yfksLo, k|fljlws / cfly{s kIfsf] ljZn]if0ffTds cWoogaf6 xfdL ;Gt'i6 x'g'sf] ;fy} ljj/0fkqdf
n]lvPsf cfly{s ljj/0fx? / cGo hfgsf/L tYout, k"0f{ / ;xL b]lvPsf]n] nufgLstf{x?nfO{ nufgL ;DaGwL lg0f{o lng d2t
k'Ug] s'/f k|lt ljZj:t eO{ xfdLn] of] ljj/0fkq :jLs[ltsfnflu g]kfn lwtf]kq af]8{df P]g / lgodfjnL cg'?ksf] of]Uotf k'u]sf]
k|lta4tfkq (Due Diligence Certificate) k|:t't u/]sf 5f}+ .
u=@= ;+ul7t ;+:yfsf] pb\3f]if0f M
u=@=s_ ;+rfnssf] lhDd]jf/L tyf hjfkmb]lxtf ;DaGwL pb\3f]if0f M
of] ljj/0fkq xfdLn] k'g/fjnf]sg u/L cg'df]bg u/]sf] x'gfn] o; ljj/0fkqdf pNn]v ul/Psf ljj/0f tyf hfgsf/Lx?sf ;fy}
lgisfzg tyf laqmL k|jGwsnfO{ lbPsf] ljQLo ljj/0f, cGo ljj/0f, hfgsf/L tyf sfuhftx?sf] ;Totf / z'4tf k|lt / lwtf]kq
btf{ tyf lgisfzg cg'dlt k|of]hgsf nflu g]kfn lwtf]kq af]8{df k]z ul/Psf] ljj/0fkq / ;f];Fu ;DalGwt cGo ljj/0f tyf
hfgsf/Lx?sf] z'4tf tyf ;Totf k|lt o; ljj/0fkqdf x:tfIf/ ug]{ xfdL ;~rfnsx? JolQmut jf ;fd"lxs ?kdf hjfkmb]lxtf
axg ub{5f}+ / lwtf]kq lgisfzgsf nflu tf]lsPsf zt{ tyf cfjZostfx?sf] ;DaGwdf cfjZos hfgsf/L lnO{ xfdL of]
pb\3f]if0f ub{5f}+ ls tf]lsPsf zt{ tyf cfjZostfx? ;a} kfngf u/]sf 5f}+ / nufgLstf{x?nfO{ nufgL ;DaGwL ;';"lrt lg0f{o
lng cfjZos s'g} ljj/0f, ;"rgf tyf hfgsf/Lx? n'sfPsf 5}gf}+ .
u=@=v_ ;+ul7t ;+:yfsf] hjfkmb]xLtf ;DaGwL pb\3f]if0f M
o; ? ? hnljB't kl/of]hgf lnld6]8n] k|sflzt u/]sf] ljj/0fkq, ;fj{hlgs k|:tfj, lj1fkg jf cGo s'g} ;"rgfdf pNn]v
ePsf ljj/0fx? afx]s sDkgLsf] af/]df k|sflzt cGo s'g} ;"rgf jf hfgsf/Lsf] hjfkmb]lxtf sDkgLdf g/xg] / To:tf] ;"rgf,
hfgsf/L jf ljj/0fsf] cfwf/df nufgL u/]df ;f]sf] hf]lvd nufgLstf{ :jo+n] axg ug'{kg]{5 .
u=@=u_ lgodg lgsfosf] lgodg Joj:yfsf] kfngf ;DaGwL pb\3f]if0f M
k|rlnt sfg"g cg';f/ cf gf] pBf]u÷Joj;fo÷;]jf;Fu ;DalGwt lgodg lgsfo -h:t} M sDkgL /lhi6«f/sf] sfof{no, g]kfn
ljB't k|flws/0f, ljB't lgodg cfof]u, ljB't ljsf; ljefu cflb_ sf] ;fj{hlgs lgisfzg tyf cGo lgodg Joj:yf tyf
lgb{]zgx?sf] kfngf u/]sf] s'/fsf] pb\3f]if0f ub{5f}+ . ;fy} ;fj{hlgs lgisfzg k|of]hgsf] nflu tof/ ul/Psf] ljj/0fkq / ;f]df
pNn]lvt ;Demf}tf jf cGo ljj/0fx? g]kfn lwtf]kq af]8{, g]kfn :6s PS;r]~h lnld6]8df k]z u/]sf 5f}+ . ;fy} o; sDkgLn]
sDkgL /lhi6«f/sf] sfof{nodf cfly{s jif{ @)&%÷)& ;Ddsf] ljj/0fx? k]z u/]sf] x'gfn] pQm cfly{s jif{;Dd o; sDkgL
sDkgL /lhi6«f/sf] sfof{nodf cBfjlws /x]sf] / ;f] cBfjlws /x]sf] Joxf]/f sDkgL /lhi6«f/sf] sfof{nosf] ldlt @)& ÷)(÷)&
ut]sf] kqaf6 k|fKt ePsf] 5 . o; sDkgLn] ljB't lgodg cfof]uaf6 k|fylds z]o/ lgisfzgsf] nflu ldlt @)& ÷!@÷)&
ut] k"j{ :jLs[tL ;d]t k|bfg ;d]t ul/;s]sf] 5 .
u=@=3_ ;+:yfks, ;+rfns tyf sfo{sf/L k|d'v ;DaGwL pb3f]if0f M
-!_ o; sDkgLsf ;+:yfks, ;~rfns jfsfo{sf/L k|d'v shf{ ;"rgf s]Gb|sf] sfnf] ;"rLdf /x]sf 5}gg\ .
-@_ o; sDkgLsf ;~rfns jf k|d'v sfo{sf/L sfnf] ;"rLdf /x]sf] cGo ;+ul7t ;+:yfdf ;~rfns jf k|d'v sfo{sf/L /x]sf
5}gg\ .
-#_ ;fj{hlgs lgisfzg dfkm{t ;j{;fwf/0faf6 k"FhL ;+sng u/L a]kQf ePsf jf ;+rfngdf g/x]sf jf nufgLstf{x?sf] lxt
ljk/Lt x'g] sfo{ u/]sf] ;+ul7t ;+:yfsf] ;~rfns jf sfo{sf/L k|d'v o; sDkgLsf] ;~rfns jf sfo{sf/L k|d'v
5}gg\ .
-$_ lwtf]kq ;DaGwL sfg"g ljk/Lt sfo{ u/]sf] sf/0f lwtf]kq ahf/ jf lwtf]kq Joj;foLsf] cg'dltkq vf/]h ePsf] bz jif{
k"/f gePsf] ;+ul7t ;+:yfsf] ;~rfns jf sfo{sf/L k|d'v o; sDkgLsf]] ;~rfns jf sfo{sf/L k|d'v 5}gg\ .
-%_ o; sDkgLsf]] ;~rfns jf sfo{sf/L k|d'v lwtf]kq ;DaGwL P]gsf] bkmf !)* adf]lhd ;~rfns jf k|d'v sfo{sf/L x'g
cof]Uo /x]sf 5}gg\ .
3
u=#= ;+ul7t ;+:yf ;DaGwL hfgsf/L M
u=#=s_ ;+ul7t ;+:yfsf] k[i7e"ld M
-s_ ;+:yfsf] gfd M ? ? hnljB't kl/of]hgf lnld6]8 (Ru Ru Jalbidhyut Pariyojana Limited_ .
-v_ ;+:yf s'g P]g cGtu{t :yflkt ePsf] ;f] s'/f M
o; ? ? hnljB't kl/of]hgf lnld6]8 sDkgL P]g, @) # adf]lhd ldlt @) @÷!@÷)( df g]kfn ;/sf/, sDkgL /lhi6«f/sf]
sfof{nodf k|fOe]6 lnld6]8sf] ¿kdf btf{ eO{ ldlt @)&@÷)$÷)& ut] klAns lnld6]8sf] ?kdf kl/0ft ePsf] xf] .
-u_ ;+:yfsf] /lhi68{ 7]ufgf M
o; sDkgLsf]] /lhi6{8{ -s]Gb|Lo_ sfof{no sf7df8f}+ lhNnf, sf=d=g=kf j8f g+= ! xflQ;f/df /x]sf] 5 . ;DalGwt lgsfosf]
:jLs[lt k|fKt u/L cGo ljleGg :yfgx?df zfvf sfof{no vf]Ng jf /lhi6{8{ sfof{no :yfgfGt/0f ug{ ;lsg]5 .
-3_ hnljB't s]Gb| M
o; sDkgLsf] sf/f]af/ ug]{ d'Vo :yfg sDkgLsf] /lhi6{8{ sfof{no sf=d=g=kf= j8f g+ !, xflQ;f/, sf7df8f}+ / cfof]hgf
:yn, hnljB't pTkfbg s]Gb| tyf cGo ef}lts k"jf{wf/x? u'NdL lhNnf, rGb|sf]6 ufpFkflnsf -;fljssf] l8a?Ë uf=lj=;=,
la;'vs{ uf=lj=;=, x/f{rf}/ uf=lj=;=, zflGtk'/ uf=lj=;=, Ujf3f uf=lj=;=, x/]{jf uf=lj=;=, ?kfsf]6 uf=lj=;= / t'/fg uf=lj=;=_
5qsf]6 ufpFmkflnsfsf] j8f g+= @ -;flassf] klNnsf]6 uf=lj=;=_, u'NdL b/af/ ufpFkflnsfsf] j8f g+ @ -;fljssf] la/af;
uf=lj=;=_ / u'NdL b/af/ ufpFkflnsfsf] j8f g+= $ -;fljssf] h'u'd uf=lj=;=_ df /x]sf] 5 .
-ª_ ;+ul7t ;+:yfsf] :yfkgfsfnb]lv xfn;Ddsf] ;+lIfKt Oltxf; / ;+ul7t ;+:yfsf] d'Vo p2]Zox?M
!= ? ? hnljB't kl/of]hgf sDkgL P]g @) # adf]lhd ldlt @) @÷!@÷)( df k|fOe]6 lnld6]8sf] ?kdf btf{ eO{ ldlt
@)&@÷)$÷)& df k|fOe]6 lnld6]8af6 klAns lnld6]8df kl/0ft eO{ btf{ ePsf] xf] .
@= sDkgL P]g @) # adf]lhd :yfkgf ePsf] ? ? hnljB't kl/of]hgf lnld6]8n] n'lDagL c~rn u'NdL lhNnfdf cjl:yt
x'UbL vf]nfsf] kfgL k|of]u u/L @,%)) lsnf]jf6 Ifdtfsf] dflyNnf] x'UbL vf]nf hnljB't cfof]hgfsf] ;j]{If0fsf] nflu
ljB't P]g @)$( adf]lhd ljB't pTkfbg ;j]{If0f cg'dlt kq ldlt @) #÷)#÷@ ut] k|fKt ul/;s]sf] 5 . ;f]
cfof]hgfsf] lgdf{0f tyf ;+rfngsf] nflu ;f] P]gdf Joj:yf eP cg';f/ ljB't pTkfbg cg'dltkq k|fKt u/L pQm
cfof]hgfaf6 pTkfbg x'g] ljB't zlQm g]kfn ljB't k|flws/0fnfO{ k|;f/0f k|0ffnL ePsf] 7fpFdf k'¥ofO{ laqmL ug]{,
k|flws/0fn] klg pQm cfof]hgfaf6 pTkfbg x'g] ljB't zlQm v/Lb ug]{ ;Demf}tf ldlt @)^ ;fn c;f]h $ ut]
eO{;s]sf] 5 . dflyNnf] x'UbL vf]nf hnljB't cfof]hgfsf] Ifdtf @,%)) lsnf]jf6af6 %,))) lsnf]jf6 sfod u/L ldlt
@) &÷!@÷!* df klxnf] ;+zf]wg ePsf] 5 .
#= ? ? hnljB't kl/of]hgf lnld6]8af6 lgdf{0f Pj+ k|ab{g u/]sf] dflyNnf] x'UbL hnljB't cfof]hgfsf] nflu ldlt
@) (÷)$÷#) df ljB't pTkfbg cg'dlt k|fKt u/]sf] / pQm cg'dlt axfn /xg] cjlw ldlt @) (÷)$÷#) b]lv
@!)$÷)$÷@( ;Dd /xg] 5 .
$= ? ? hnljB't kl/of]hgf lnld6]8af6 lgdf{0f Pj+ k|ab{g u/]sf] dflyNnf] x'UbL vf]nf hnljB't cfof]hgfsf] ## s]=eL
ljB't k|;f/0f nfOg cfof]hgfsf] nflu phf{ dGqfno ljB't ljsf; ljefuaf6 k|fKt ljB't k|zf/0f cg'dlt kq ldlt
@)&!÷)%÷@ df k|fKt u/L ;f] cg'dlt kq ldlt @)&!÷)%÷@ b]lv @)( ÷)%÷@% ;Dd axfn /xg] 5 .
%= u'NdL lhNnfsf] rGb|sf]6 ufFpkflnsf j8f g+ $, ,&, / * df lgdf{0f ;DkGg % d]ufjf6 Ifdtfsf] dflyNnf] x'UbL hnljB't
cfof]hgfsf] ljB't u[x÷:jLrjf8{ b]lv ;f]xL lhNnfdf lgdf{0f ePsf] ## s]=eL k|zf/0f nfOgsf] la/jf; ;j:6];g;Dd
ljB't k|zf/0f nfOg dfkm{t ljB't cfk"lt{ eO/x]sf] 5 .
= o; sDkgLsf] s'n nfut ?= &$,$%,@!,(!) /x]sf] / k|lt d]ufjf6 ?= !$,*(,)$,#*@ /x]sf] 5 .
&= xfn o; sDkgLdf (^$ hgf ;+:yfks z]o/wgLx? /x]sf 5g\ . sDkgLsf] k|aGwkq tyf lgodfjnL cg';f/ hf/L
k"FhLsf] *) k|ltzt ;+:yfks z]o/, !) k|ltzt cfof]hgf k|efljt If]qsf jfl;Gbf / !) k|ltzt ;j{;fwf/0f
z]o/wgLx/sf] nflu 5'ÝfO{ afF8kmfF8 ug]{ Joj:yf /x]sf] 5 .
*= sDkgLsf] xfnsf] cj:yf M
u'NdL lhNnfsf] rGb|sf]6 ufFpkflnsfdf lgdf{0f ul/Psf] % d]ufjf6 Ifdtfsf] kl/of]hfgf ? ? hnljB't kl/of]hgfsf
gfdn] kl/lrt o; kl/of]hgfn] ldlt @)&!÷!@÷)( af6 Jo;flos pTkfbg z'? u/L xfn ;Dd hnljB'tsf] /fli6«o
cfjZostfdf yf]/} ePklg of]ubfg ug{ ;kmn ePsf] 5 . kl/of]hgfsf] xfn;Ddsf] cj:yf cToGt} /fd|f] /x]sf] 5 h'g
s'/f kl/of]hgfn] Os|f /]l6Ë ln= g]kfnaf6 k|fKt u/]sf] /]l6Ësf] u|]8n] ;d]t k|i6 kfb{5 . cfly{s, ;fdflhs tyf k|fljlws
b[li6sf]0faf6 s'g} ;d:of g/x]sf] o; kl/of]hgfdf h8fg ul/Psf pks/0fx? klg /fd|f] cj:yfdf /x]sf 5g . jiff{ofddf
vf]nfdf kfgLsf] dfqf a9L eO{ xfn cfof]hgfn] k|ltlbg cf}ift $=# d]ufjf6 ljB't pTkfbg ul//x]sf] 5 . cfof]hgfn]
cf= j= @)&&÷&* sf] cflZjg d;fGt;Dddf s'n ?= %,!@,$*,$& ÷( /sd a/fa/sf] ljB't pTkfbg u/L
4
k|flws/0fnfO{ lalqm u/]sf] cj:yf 5 h'g ut cf= j= sf] t'ngfdf ? $, , @(= # n] al9 xf] . of] ;+u} sDkgLsf cGo
ljQLo kl/;'rsx? klg ;sf/fTds /x]sf 5g\ .
;+ul7t ;+:yfsf dflyNnf] x'UbL vf]nf hnljB't cfof]hgfsf] ;+lIfKt k|fljlws ljj/0fx? lgDgfg';f/ /x]sf] 5 M
ljB't kl/of]hgfsf] gfd M dflyNnf] x'UbL vf]nf hnljB't cfof]hgf
cfof]hgf :yn M k|b]z %, n'lDagL c~rn, u'NdL lhNnfsf] rGb|sf]6 ufFpkflnsf j8f g+= / &
>f]t gbL M x'UbL vf]nfsf] kfgL
cfof]hgfsf] lsl;d M /g ckm l/e/
ljB't pTkfbg cg'dlt k|fKt ldlt M @)&)÷!@÷)(
ljB't pTkfbg cg'dlt axfn /xg] ldlt M @) (÷)$÷#) b]lv @!)$÷)$÷@(
hl8t Ifdtf M %=)) d]ufjf6
cfof]hgfsf] s"n nfut M ?= &$$,%@!,(!)÷–
cfof]hgfsf] k|lt d]ufjf6 nfut M ?= !$*,()$,#*@÷–
cfof]hgfsf] ;fwf/0f nufgL lkmtf{ x'g] cjlw M %=@$ jif{
cfof]hgfsf] l8:sfp06df nufgL lkmtf{ x'g] cjlw M *=$@ jif{
Pay Back Period, Internal Rate of Return (IRR) and Net Present Value (NPV)
ljj/0f 2076/77 2077/78 2078/79 2079/80 2080/81 2081/82 2082/83 2083/84 2084/85 2085/86 2086/87
;+rfngsf] jif{ 0 1 2 3 4 5 6 7 8 9 10
nfut (602,156) - - - - - - - - - -
s/ kl5sf] cfDbfgL 58,389 58,529 63,493 57,137 62,639 60,756 53,819 52,026 49,962 47,667 43,019
Terminal Value - - - - - - - - - - 430,190
x|f;s§L / kl/zf]wg 22,644 22,713 22,712 22,713 22,712 22,368 22,278 22,277 22,207 22,103 22,104
ljQLo nfut 36,581 24,469 13,873 8,759 3,026 - - - - - -
nfe -nfut_ (484,542) 105,711 100,078 88,609 88,377 83,124 76,097 74,303 72,169 69,770 495,313
Cumulative Simple Benefit (Cost) (484,542) (378,831) (278,753) (190,144) (101,767) (18,643) 57,454 131,757 203,926 273,696 769,009 Discount Factor 1.0000 0.9091 0.8265 0.7514 0.6831 0.6210 0.5645 0.5132 0.4665 0.4241 0.3855 Present Value (484,542) 96,102 82,714 66,581 60,370 51,620 42,957 38,132 33,667 29,589 190,943 Cumulative Present Value (484,542) (388,440) (305,726) (239,145) (178,775) (127,155) (84,198) (46,066) (12,399) 17,190 208,133
Discount Rate 10.00%
Pay Back Period
Simple 5.24 Years
Discounted 8.42 Years
Internal Rate Of Return (IRR) 17.69%
Net Present Value (NPV) NRs 2,08,133 Thousands
sDkgLn] klxrfg u/L ljsf; lgdf{0f k|f/De u/]sf] u'NdL lhNnfsf] rGb|sf]6 ufFpkflnsfdf % d]ufjf6 Ifdtfsf] dflyNnf] x'UbL
vf]nf hnljB't cfof]hgfsf] ;Dk'0f{ lgdf{0f sfo{ ;DkGg eO{ cfof]hg ;+rfng e}/x]sf]] 5 .
sDkgL / g]kfn ljB't k|flws/0faLr ;DkGg ljB't v/Lb–laqmL ;Demf}tfsf -;+zf]wg ;d]t_ d'Vo–d'Vo aF'bfx¿ lgDg adf]lhd
/x]sf 5g\ M
• dflyNnf] x'UbL vf]nf hnljB't cfof]hgfaf6 jflif{s @,*@, ),)^ lsnf]jf6 306f ljB't pTkfbg tyf laqmL
ul/g] s'/f dfl;s phf{ pTkfbg tflnsfdf tf]lsPsf] 5 . o;df jiff{ofdsf] nflu @,@&,&),$$! lsnf]jf6 306f
/ ;'Vvfofdsf] nflu %$,*(, ^% lsnf]jf6 306f lgwf{/0f ul/Psf] 5 .
• k|flws/0fn] k|To]s dlxgf cfof]hgfaf6 sG6«ofS6 OghL{sf] kl/df0f ;Ddsf] Availability Declaration cg';f/sf]
OghL{ v/Lb u/L lng]5 . o; cg';f/ k|flws/0fn] lng' kg]{ phf{ Forced Outage sf] sf/0fn] lng g;s]df jf
Dispatch Instruction sf] sf/0fn] glnPdf ljB't v/Lb ;Demf}tfsf] cg';"rL # sf] k|fjwfg cg';f/ k|flws/0fn]
sDkgLnfO{ Ifltk"lt{ ltg'{ kg]{5 .
5
• sG6«ofS6 OghL{ jf Avaiability Declaration sf] cfwf/df u0fgf x'g] dfl;s phf{ dWo] h'g 3l6 5 ;f] sf] *)
k|ltzt eGbf sd gx'g] u/L k|To]s dlxgf sDkgLn] cfof]hgfaf6 ljB't pTkfbg u/L k|flws/0fnfO{ ljB't
cfk"lt{ ug'{kg]{5 . k|flws/0fsf] sf/0f jf Schedule Outage jf sfa' aflx/sf] kl/l:yltsf] sf/0f afx]s cGo
sf/0fn] o;/L tf]lsPsf] kl/df0f;Ddsf] ljB't sDkgLn] cfk"lt{ ug{ g;s]df jf gu/]df lgDg ;"q cg';f/
sDkgLn] k|flws/0fnfO{ Ifltk"lt{ :j?k /sd e'QmfgL ug'{ kg]{5 .
Ifltk"lt{ /sd
= ? [)=* * ;f] dlxgf sDkgLaf6 k|flws/0fnfO{ cfk"lt{ x'g' kg]{ a9Ldf sG6«ofS6 OghL{ ;Ddsf] Availability
Declaration cg';f/sf] ljB't phf{ – ;f]xL dlxgfdf sDkgLn] pknAw u/fPsf] phf{ – ;f]xL cjlwdf k|flws/0fn]
jf Schedule Outage jf sfa' aflx/sf] kl/l:yltsf] sf/0fn] cfof]hgfaf6 pknAw x'g g;s]sf] phf{]* ;f] dlxgfsf] k|lt lsnf]jf6 306f ljB't phf{ v/Lb b/; o;/L lx;fa ubf{ Ifltk"lt{ /sd C0ffTds ePdf Ifltk"lt{ /sdnfO{ z"Go dflgg] 5 .
Ifltk"lt{ /sd aLn /sd eGbf a9L ePdf aLn /sd eGbf a9L ePsf] Ifltk"lt{ /sd sDkgLn] k|flws/0fnfO{
ltg{ kg]{ 5}g .
dfly pNn]v eP cg';f/ k|flws/0fn] sDkgLnfO{ jf sDkgLn] k|flws/0fnfO{ Ifltk"lt{ ltg{] Joj:yf cfof]hgfaf6
Jofkfl/s pTkfbg z'? x'g] ldlt b]lv nfu" x'g]5 .
• k|flws/0fn] Jofkfl/s pTkfbg z'? x'g] ldltb]lv x/]s dlxgf sDkgLn] cfof]hgfaf6 pTkfbg u/L pknAw
u/fPsf] sG6«ofS6 OghL{sf] kl/df0f;Ddsf] phf{ v/Lb jfkt jiff{ofddf k|lt ls=jf= 306f ?= $÷– -rf/ ?k}+of
dfq_ / ;'Vvfofddf k|lt ls=jf= 306f ?= &÷– -;ft ?k}+of dfq_ ljB't v/Lb b/n] x'g cfpg] /sd sDkgL jf
bkmf #$ cg';f/sf] cu'jf a}+s jf ljlQo ;+:yfnfO{ a'emfpg] 5 . ;fy} Jofkfl/s pTkfbg z'? x'g] ldltnfO{
cfwf/ jif{ dfgL To;kl5sf] k|To]s cfly{s jif{sf] nflu # -tLg_ k|ltztsf b/n] gf} -(_ k6s;Dd d"Noj[l¢ lbO{
lgDg tflnsf cg';f/ ljB't phf{ v/Lb b/ sfod ul/Psf] 5 .
cfly{s jif{ ;'Vvfofd -kf}ifb]lv
r}q;Dd_ -?= k|lt o'lg6_
jiff{ofd -j}zfifb]lv
dfu{;Dd_ -?= k|lt o'lg6_
Jofkfl/s pTkfbg z'? x'g] ldlt (COD) &=)) $=))
COD kl5sf] klxnf] cfly{s jif{ &=@! $=!@ COD kl5sf] bf]>f] cfly{s jif{ &=$@ $=@$ COD kl5sf] t]>f] cfly{s jif{ &= # $=# COD kl5sf] rf}yf] cfly{s jif{ &=*$ $=$* COD kl5sf] kfFrf} cfly{s jif{ *=)% $= ) COD kl5sf] 5}7f}+ cfly{s jif{ *=@ $=&@ COD kl5sf] ;ftf}+ cfly{s jif{ *=$& $=*$ COD kl5sf] cf7f}+ cfly{s jif{ *= * $=( COD kl5sf] gjf}+ cfly{s jif{b]lv ;Demf}tf cjlw;Dd *=*( %=)*
• g]kfn ljB't k|flws/0fn] cltl/Qm phf{ (Excess Energy) sf] xsdf ldlt @)&!÷)&÷!# df ePsf] ljB't
v/Lb laqmL ;Demf}tf -;+zf]lwt_ sf] bkmf !@=! df pNn]v eP cg';f/ dfly bf]>f] tflnsfdf pNn]lvt ;+zf]lwt
ljB't v/Lb b/sf] %)Ü b/df sDkgLn] lalnË ug]{ / k|flws/0fn] e'QmfgL ug]{5 .
• sDkgLn] hnljB't cfof]hgfdf hl8t d]lzg cf}hf/x¿ tyf cGo pks/0fx?sf] k'g:yf{kgf d"NoeGbf sd
gx'g] u/L / k|rlnt sfg"g adf]lhd ug'{kg{] ;a} k|sf/sf aLdfx¿ u/]sf] 5 .
• ldlt @)&@÷) ÷)& df g]kfn ljB't k|flws/0f / ? ? hnljB't kl/of]hgf k|f=ln= aLr dflyNnf] x'UbL vf]nf
hnljB't cfof]hgfaf6 pTkfbg x'g] ljB't v/Lb – laqmLsf] ;'ljwf ;DaGwL ;Demf}tf, @)&@ sf] a'Fbf gDa/ $
df ljB't v/Lb b/ æ;'lrs[t b/ -Posted Rate_Æ ;DaGwL d"Noa[l4 lgDg tflnsfdf Joj:yf lgDgfg';f/
x'g]5 M
cjlw PCOD af6 ;ft jif{;Dd PCOD nfO{ cfwf/ ldlt
dfgL nuQ} kl5sf] dlxgfnfO{ klxnf] dlxgf dfgL cjlw u0fgf
x'g]u/L
;'Vvfofd -kf}ifb]lv
r}q;Dd_ -?= k|lt o'lg6_
jiff{ofd -j}zfifb]lv
dfu{;Dd_ -?= k|lt o'lg6_
klxnf] dlxgfb]lv !@ cf}+ dlxgf;Dd *=$) $=*)
!# cf}+ dlxgfb]lv @$ cf}+ dlxgf;Dd *= % $=($ @% cf}+ dlxgfb]lv # cf}+ dlxgf;Dd *=() %=)( #& cf}+ dlxgfb]lv $* cf}+ dlxgf;Dd (=! %=@#
6
$( cf}+ dlxgfb]lv ) cf}+ dlxgf;Dd (=$! %=#*
! cf}+ dlxgfb]lv ;'ljwf ;DaGwL ;Demf}tfsf] clwgdf /xL ljn
e'QmfgL ug]{ dlxgf;Dd (= %=%#
sDkgLn] ;fljssf] ;Demf}tfdf Joj:yf eP adf]lhd ;fljssf] vl/b b/ cg';f/ tyf ;'lrs[t b/ -Posted
Rate_ cg';f/ yk x'g hfg] /sdsf] nflu 5'§f5'§} ljn -Invoice_ k]z ug'{kg]{5 . k|flws/0fn] klg ;fljssf]
nflu k|fKt ePsf] ljnsf] ;fljss} PPA cg';f/ / ;"lrs[t b/ cg';f/ yk x'g hfg] /sdsf] o; ;'ljwf
;DaGwL ;Demf}tfsf] clwgdf /xL ljn e'QmfgL ug]{5 .
sDkgLsf]] k|aGwkqsf] bkmf $ tyf lgodfjnLsf] lgod $ df pNn]v ul/P adf]lhd o; sDkgLsf d'Vo p2]Zox?
b]xfo adf]lhd /x]sf] 5 M–
-s_ sDkgLnfO{ cfjZos kg]{ hUuf, ejg, ;jf/L ;fwg / cfjZos pks/0f v/Lb ljqmL ug]{ jf ef8fdf lnO{ k|of]u
ug]{,
-v_ sDkgLnfO{ cfjZos kg]{ sd{rf/L lgo'Qm ug]{ tyf ltgsf] ;]jfsf zt{x? lgwf{/0f ug]{
-u_ sDkgLsf] gfddf a}+s tyf ljQLo ;+:yfdf vftf vf]Ng] / ;~rfng ug]{,
-3_ sDkgLnfO{ cfjZos kg]{ /sd a}+s tyf s'g} ljQLo ;+:yfaf6 lwtf] /fvL jf g/fvL shf{ lng],
-ª_ cGo cfjZos s'/fx? M
!_ sDkgLn] cfjZos 3/, uf]bfd, tyf cGo rn crn ;DklQ cflb nLh jf ef]u aGwsLdf lng], lgdf{0f ug]{, dd{t–
;+ef/ ug{ ;Sg]5,
@_ sDkgLnfO{ cfsl:ds Ifltaf6 arfpg sDkgLsf] d]l;g/L, ejg nufot ;a} k|sf/sf ;DklQx?sf] cfjZostfg';f/
aLdf u/fpg],
#_ sDkgLsf] gfddf g]kfn clw/fHosf] s'g} klg ljQLo ;+:yf tyf a}+sx?df sDkgLsf] gfddf vftf vf]nL /sd hDdf
ug]{, lemSg], ljn ckm PS;]Gh, k|f]ldz/L gf]6, r]s cfbL hf/L ug]{ e'QmfgL lng], lbg], Pn=l;=vf]Ng], dGh'/ ug]{ o:t}
k|sf/sf cGo cfjZos sfdx? ug]{,
$_ sDkgLsf] nflu k|fKt x'g ;Sg] ;a} k|sf/sf ;'ljwf, ;x'lnot k|fKt ug{ g]kfn ;/sf/sf] sfof{nox? ;Fu cg'/f]w ug]{,
o;sf] xs / ;'ljwf pknAw ug]{ / pkof]u ug]{,
%_ sDkgLsf] tkm{af6 jf sDkgL lj?4 k/]sf d'2f dfldnfx?sf] k'k{If ug]{, k|lt/Iff ug]{, lnlvt hjfkm k]z ug]{, o;
;DaGwdf cfjZos sfg"gL ;]jf k|fKt u/L cf gf] xs clwsf/sf] ;+/If0f ug]{, ;x'lnot ;'ljwfnfO{ ;'/lIft /fVg],
_ sDkgLnfO{ cfjZos kg]{ k|fljlws, cfly{s sfg'gL nufotsf ;Nnfxsf/ lgo'lQm ug]{ / pgLx?sf] ;]jfsf] zt{x?
lgwf{/0f ug]{,
&_ sDkgLsf] cf gf] nIo / p2]Zo k|fKt ug]{ ljleGg ;~rf/sf dfWodx?af6 lj1fkg ;"rgf cflb k|rf/–k|;f/ ug]{, u/fpg],
*_ sDkgLn] cfjZostf cg';f/ rn crn ;DklQ v/Lb ug]{, cf gf] gfdsf] hUufx? ljqmL ug]{, ef8fdf lbg], ;§fk§f
ug]{ Pj+ lwtf] aGws /fVg],
(_ k|rlnt sfg"gsf] clwgdf /xL :jLs[t lng'kg]{ ljifodf :jLs[t lnO{ sDkgLsf] p2]Zo k"lt{sf] nflu cfjZos ;Demf}tfx?
ug]{,
!)_ cGo cfjZos s'/fx? ;+rfns ;ldlt / ;fwf/0f ;efn] sDkgL P]g P+j k|rlnt sfg"gsf] clwgdf /xL ;do
;dodf lg0f{o u/] adf]lhd x'g]5 .
-r_ ;+ul7t ;++:yfsf] s'g} ;xfos sDkgL ePdf ;f] ;xfos sDkgLsf] gfd, Oltxf; / To;sf d'Vo p2]Zox?sf ;fy} To;df
ePsf] nufgLsf] c+z -k|ltztdf_ M
o; sDkgLsf] s'g} ;xfos sDkgL g/x]sf] .
-5_ b]xfosf s'/fx? ;d]t pNn]v ug'{kg]{ -nfu" x'g] xb;Dd_
-!_ ;+ul7t ;++:yfn] pTkfbg ug]{ j:t' jf k|bfg ug]{ ;]jfx?
o; sDkgLn] k|bfg ug]{ ;]jfx?df hnljB't cfof]hgfsf] lgdf{0f, ;+rfng / Joj:yfkg u/L hnljB't pTkfbg ug]{ .
-@_ k|of]u ePsf] jf ul/g] k|ljlw M
of] kl/of]hgf Run of River k|ljlwdf cfwfl/t hnljB't cfof]hgf xf] . ;f]xL k|ljlw cg'?k hn>f]tsf] pkof]u u/L ljB't
zlQmsf] pTkfbg tyf ljqmL ljt/0f ug]{ sfo{sf nflu cfjZos ef}lts ;+/rgf tyf d]lzgx?sf] k|of]u ul/Psf] 5 .
-#_ s'g} j|fG8g]d, k|ltlnlk clwsf/, 6«]8dfs{, Ohfhtkq, k|fljlws ;xof]u ;Demf}tf / ljQLo ;+:yf;Fu ;DalGwt af}l4s
;DklQ xs clwsf/ M
;f] gePsf] .
7
-$_ ;+ul7t ;++:yfn] cf]u6]sf] ahf/ If]q M
sDkgLn] pTkfbg ug]{ ljB't g]kfn ljB't k|flws/0f;Fu ljB't vl/b laqmL ;D f}tf u/]/ /fli6«o k|;f/0f nfOg dfkm{t\
ljt/0f ug]{ Joj:yf ldnfO{Psf] 5 / sDkgLsf] k|d'v ahf/ g]kfn /fHoe/ /x]sf] 5 .
-%_ gofF pTkfbg tyf ;]jf ;DaGwL of]hgf M
o; kl/of]hgf lgdf{0f ;DkGg eO;s]sf] x'Fbf xfn pTkfbg ul//x]sf] ljB't zlQmnfO{ g} clwstd Ifdtfdf pTkfbg ug]{ /
yk gofF pTkfbg ug]{ jf o;} kl/of]hgfdf ;]jf lj:tf/ ug]{ cGo s'g} of]hgf /x]sf] 5}g . t/ sDkgLn] o:t} k|sf/sf] cGo
ljB't pTkfbg ug]{ kl/of]hgfx?df eg] sfo{ ug]{ of]hgf /fv]sf] 5 .
- _ pTkfbg tyf ;]jfsf] k|d'v ahf/ / To;sf] dfu / laqmL ljt/0fsf] tl/sf M
sDkgLn] pTkfbg ug]{ ljB't g]kfn ljB't k|flws/0f;Fu ljB't v/Lb laqmL ;Demf}tf adf]lhd g]kfn ljB't k|flws/0fnfO{
pTkflbt laqmL ug]{ .
-&_ pTkfbg÷ ;~rfng Ifdtf / ;f]sf] pkef]u l:ylt M
dflyNnf] x'UbL hnljB't cfof]hgfsf] pTkfbg Ifdtf %,))) lsnf]jf6 /x]sf] / pQm lgdf{0f sfo{ ;DkGg eO{ ldlt
@)&!÷!@÷)( ut]b]lv ljB'tsf] Jofkfl/s pTkfbg z'? eO{;s]sf]] 5 .
-*_ sRrf kbfy{sf] >f]t, lsl;d / pknAwtf M
dflyNnf] x'UbL vf]nfdf ePsf] kfgL cg'dtL kqsf] clwgdf /xL pkof]u ug]{ .
-(_ u'0f lgoGq0fsf] nflu ul/Psf] Joj:yf M
sDkgLn] u'0f lgoGq0fsf] nflu ul/Psf] Joj:yf tn a'Fbfut ?kdf pNn]v ul/Psf] M
➢ HfnljB't kl/of]hgfsf] d'Vo pb]Zo lah'nL pTkfbg ug'{ xf] . ljB't u[xdf k|of]u ePsf ;Dk"0f{ pks/0fx? k"0f{
?kdf ;+rfng x'gsfnflu sDkgLn] lgoldt ?kdf Preventive Maintenance ug]{ u/]sf] 5 / o;sf nflu
sDkgLn] d]sflgsn OlGhlgo/ tyf ck/]6/ /fv]sf] 5 . ;do ;dodf ul/Psf] Preventive Maintenance sf]
/]s8{ klg sDkgLn] /fv]sf] .
➢ d]l;g tyf pks/0fx? ;a} /fd|f] l:yLtLdf /x]sf] / o;sf sf/0fn] ubf{ ljh'nLsf] Outage xfn;Dd gePsf] .
➢ kl/of]hgf;Fu ;DalGwt k|fljlws kIfx?sf] cj:yfnfO{ r':t b'?:t /fvL pTkfbg Ifdtf tyf u'0f:t/ sfod
/fVgsf nflu cf+lzs ?kdf sfd ug]{ u/L cfjZos k|fljlws hgzlQm tyf ;Nnfxsf/sf] Joj:yf ul/Psf] .
➢ ef}lts k"jf{wf/x?sf] klg ;do ;dodf lgoldt ?kdf r]s hfFr u/L pks/0fx?sf] cj:yfsf] hfgsf/L lng]
ul/Psf] .
➢ g]kfn ljB't k|flws/0f / sDkgL b'j}sf] ;dGjodf Transmission line df ePsf] ljB't r'xfj6 klg jif}{ lkR5]
36\g] qmddf /x]sf] .
➢ kl/of]hgfdf sfo{/t hgzlQmsf] Ifdtf clej[l4sf nflu cfjZos lzIff tyf tflndsf] Joj:yf ul/Psf] /
sfo{/t sd{rf/Lx?nfO{ cGo kl/of]hgf:ynsf] e|d0f cjnf]sg ug]{ Joj:yf ldnfOPsf] .
-!)_ cg';Gwfg tyf ljsf; M
o; kl/of]hgf lgdf{0f ;DkGg eO{;s]sf] kl/of]hgf ePsf] x'Fbf kl/of]hgfnfO{ lb3{sflng ?kdf oyfjt ?kdf ;~rfng
ul//fVgsfnflu ;do ;dodf cfjZos cWoog tyf cg';Gwfg ul/g]5 / ;f]xL adf]lhd kl/of]hgfnfO{ clwstd Ifdtfdf
;~rfng ug]{ u/L ;f] sf] ljsf; ul/g]5 . To;}u/L sDkgLn] o:t} k|sf/sf cGo ljB't pTkfbg ug]{ cfof]hgfx?sf]
cg';Gwfg tyf ljsf; ug]{ sfo{df cu|;/ /xg] 5 .
-!!_ ljut !@ dlxgfsf] cjlwdf ;+:yfsf] ;~rfngdf c;/ kg]{ u/L ePsf] jfwf, Jojwfg M
ljut !@ dlxgfsf] cjlwdf ;+:yfsf] ;~rfngdf c;/ kg]{ u/L s'g} jfwf, Jojwfg gePsf] .
-!@_ dhb'/ ;+u7g;Fusf] ;DaGw / ljutdf s'g} cf}Bf]lus ljjfb ePsf] eP, ;f] ;DaGwL ljj/0f M
o; kl/of]hgfdf dhb'/ ;+u7g gePsf] / Joj:yfkg tyf sd{rf/Lx? lar ;'dw'/ ;DaGw /x]sf] 5 . ;fy}, xfn;Dd s'g}
k|sf/sf] cf}Bf]lus ljjfb gePsf] .
-!#_ ahf/, k|lt:kwf{ / cGo ;dfg pBf]ux?aLr ;+ul7t ;+:yfsf] l:ylt M
dflyNnf] x'UbL vf]nf hnljB't cfof]hgfsf] s'n ljB't pTkfbg Ifdtf %,))) lsnf]jf6 /x]sf] x'Fbf o; cfof]hgfn] ahf/sf]
;fgf] c+znfO{dfq kl/k"lt{ ul/Psf] 5 . ;fy} ljB'tsf] xfxfsf/ eO{ 7"nf] kl/df0fdf phf{sf] dfu e}/x]sf] x'Fbf jt{dfg
cj:yfdf ljB't pTkfbg ug{ ;s]df pQm ljB't laqmL ug{ ahf/sf] s'g} ;d:of g/x]sf] . hnljB't cfof]hgfsf] nflu
sRrf kbfy{sf] vf]hL tyf hu]8f ug'{ gkg]{ / pTkflbt ljB't zlQm g]kfn ljB't k|flws/0f;Fu ;Demf}tf u/L laqmL ug{
;lsg] x'Fbf g]kfnL nufgLstf{sf] nflu of] nfebfos / pko'Qm If]q /x]sf] 5 .
8
-!$_ k|d'v u|fxsx?sf] ljj/0f -h:t}–;++:yfsf] s"n jflif{s sf/f]jf/df !)Ü jf ;f] eGbf a9Ln] of]ubfg ug{] jf Joj;fosf] nflu
;++:yf s'g} k|d'v u|fxs;Fu lge{/ 5 eg] t\t;DaGwL ljj/0f_ M
sDkgL / g]kfn ljB't k|lfws/0f aLr v/Lb laqmL ;Demf}tf ePsf]n] k|d'v ufxssf] ?kdf g]kfn ljB't k|flws/0f /x]sf]
5 .
-!%_ k|d'v ;Knfo;{x?sf] ljj/0f -h:t}– ;+:yfsf] s"n sf/f]af/df !)Ü jf ;f] eGbf a9Ln] of]ubfg ug]{ ;Knfo;{ jf Joj;fosf]
nflu ;+ul7t ;+:yf s'g} k|d'v ;Knfo;{;Fu lge{/ 5 eg] t\t;DaGwL ljj/0f_ M
dflyNnf] x'UbL hnljB't cfof]hgfsf] lgdf{0f sfo{ ;DkGg eO{ ldlt @)&!÷!@÷)( ut]b]lv ljB'tsf] Jofkfl/s pTkfbg
z'? eO{;s]sf]] sf/0fn] ubf{ k|d'v ;Knfo;{x?;Fu lge{/ g/x]sf] .
u=#=v_ ;DklQsf] ljj/0f M
-s_ ;+ul7t ;+:yfsf] pks/0f -KnfG6_ tyf cGo ;DklQ /x]sf] :yfg / pks/0f tyf ;DklQsf] cj:yf M
sDkgLsf] :jfldTjdf /x]sf] x'UbL vf]nf hnljB't cfof]hgfsf] Og6]s ;fO6 b/lj/ v]t, x/]jf uf=lj=; /
kfj/xfp; ;fO6 ?kfsf]6 uf=lj=;df /x]sf] 5 . sDkgLsf] ;DklQsf] ljj/0f b]xfo adf]lhd /x]sf] 5 .
;DklQ cf=j=@)& ÷)&& ;DklQ /x]sf] :yfg ;DklQsf] cj:yf
hUuf
60,55,87,323.00
rGb|sf]6 ufFpkflnsf j8f g+ ^ / &
;fljssf] x/]jf uf=lj=; j8f g+ ^
/& ?kfsf]6 uf=lj=; j8f g+ &
rGb|sf]6 ufFpkflnsf j8f g+ ^ / &
;fljssf] x/]jf uf=lj=; j8f g+ ^ /&
?kfsf]6 uf=lj=; j8f g+ & cjl:yt
;Dk"0f{ hUUff v/Lb u/L k|fKt ePsf] .
Efjg
cfof]hgf :yn rGb|sf]6 ufFpkflnsf
j8f g+ & ;fljssf] ?kfsf]6 uf=lj=;
j8f g+ &
lgdf{0f ;DalGw sfo{ ;DkGg eO{;s]sf] /
;Dk"0f{ /sd e'Qmfg eO{;s]sf]
Plant Machinery, Hydro Mechanical And other
Equipments
n'lDagL c~rn, u'NdL lhNnf
rGb|sf]6 ufFpkflnsf j8f g+ ^ / &
;fljssf] x/]jf uf=lj=; j8f g+ ^
/& ?kfsf]6 uf=lj=; j8f g+ &
;Dk"0f{ pks/0fx? kl/of]hgfx? lgdf{0f
:ynx?df /x]sf] / h8fg sfo{x? k'/f
eO{;s]sf] / xfn ;+rfngdf /x]sf]
sDKo'6/,
clkm; OSo'kd]G6 18,31,110.70
/lhi68{ sfof{no xfQL;f/,sf7df8f}+
/ cfof]hgf :yn rGb|sf]6
ufFpkflnsf j8f g+ & ;fljssf]
?kfsf]6 uf=lj=; j8f g+ &
;Dk"0f{ sDKo'6/ / pks/0fx? k|fKt eO{
xfn ;+rfngdf /x]sf] .
;Dk"0f{ kmlg{r/ / lkmS:r/x? k|fKt
eO{;s]sf] / xfn ;+rfngdf /x]sf] .
Kitchen Utilities k|fKt eO{ xfn ;+rfngdf
/x]sf] .
clkm; OSo'kd]G6 / pks/0fx? k|fKteO{
xfn ;+rfngdf /x]sf] .
;jf/L ;fwg
-Dff]6/afOs -af %( k
(@^_,
hLk af !) r ^*%&_,
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/lhi68{ sfof{no xfQL;f/,sf7df8f}+
cfof]hgf :yn rGb|sf]6 ufFpkflnsf
j8f g+ & ;fljssf] ?kfsf]6 uf=lj=;
j8f g+ &
;Dk"0f{ ;jf/L ;fwgx? v/Lb eO{ k|fKt
eO{;s]sf] / pQm ;Dk"0f{ ;jf/L ;fwgx?
xfn ;+rfngdf /x]sf]
hDdf 60,87,39240.96
-v_ a'Fbf -s_ df pNn]lvt ;DklQ ;+ul7t ;+:yfsf] cf g} ;DklQ xf] of lnhdf lnPsf], lnhdf lnPsf] eP lnhsf] cjlw
-ldlt ;d]t pNn]v ug'{kg]{_M
pQm a'Fbfdf pNn]lvt ;DklQ sDkgLsf] cf g} xf] / ;Demf}tf cjlw kZrft g]kfn ;/sf/nfO{ x:tfGt/0f ug'{kg]{ Joj:yf
/x]sf] .
-u_ olb ;DklQ ;+ul7t ;+:yfsf] :jfldTjdf /x]sf] ePdf pQm ;DklQ dfly s'g} lnog jf df]6{u]h eP ;f] ;DaGwL ljj/0fM
sDkgLsf] :jfldTjdf /x]sf] ;DklQ cfo]hgf ;+rfng tyf lgdf{0fsf] nflu lnPsf] ;xljQLos/0f shf{sf] nflu ln8 a}+s
PgPdla a}+s lnld6]8 -;fljs lSng OghL{ 8]enkd]G6 a}+s lnld6]8_ / ;xefuL a}+sx?df s'df/L a}+s lnld6]8, n'lDagL
ljsf; a}+s lnld6]8 -;fljs lejf]/ ljsf; a}+s lnld6]8_, df5fk'R5|] a}+s lnld6]8 / ;]Gr'/L sd{l;on a}+s lnld6]8sf]
gfddf lwtf] /x]sf] 5 .
-3_ cfly{s jif{ ;dfKt eP kZrft ljj/0fkq af]8{df k]z ul/Psf] ldltdf ;+ul7t ;+:yfsf] ;DklQsf] lstfjL d"No / ahf/
d"No aLr km/s ;dfof]hg jf d"Nof+sg ul/Psf] eP ;f] sf] ljj/0fM
9
k/ndf]ndf lgodcg';f/ ug'{kg]{ x|f; s§L u/L n]vfdfg cg';f/ afFsL /x]sf] jf:tljs ;DklQnfO{ ;DklQsf] ?kdf /flvPsf]
5 .
-ª_ ;DklQsf] d"Nof+sg ul/Psf] tl/sf ;DaGwL ljj/0fM
sDkgLsf] ;Dk"0f{ ;DklQ jf:tljs vr{sf] lx;fjdf sfod ul/Psf] 5 / ;f]sf] k'gd"{"Nof+sg ul/Psf] 5}g .
u=#=u_ efjL of]hgf tyf /0fgLlt M
-s_ Joj;fo÷;]jfsf] a[l4sf nflu ;+:yfsf] efjL of]hgf / To:tf] of]hgfsf] k|lfKtsf nflu rflng] ;doj4 /0fgLltM
sDkgLn] cf gf] Joj;fo÷;]jfsf] a[l4sf nflu rfNg] efjL of]hgf / To:tf] of]hgfsf] k|flKtsf nflu rflng] ;doj4 /0fgLlt
lgDgfg';f/ 5g\ .
➢ sDkgLsf] d'Vo p2]Zo g]kfnsf] hnljB't ljsf;df Ps cu|0fL sDkgLsf] ?kdf :yflkt ug]{ .
➢ gofF hnljB't cfof]hgfx?sf] ;DefJotf cWoog u/L cGo hnljB't cfof]hgfx? ;d]t lgdf{0f ug]{ .
➢ sDkgLn] ;/sf/L lgsfox?;uF ePsf] ;Demf}tf adf]lhd b]zdf /x]sf] hn>f]tsf] clwstd pkof]u u/L ljB't
pTkfbg ug]{ / ;f] nfO{ g]kfn ljB't k|flws/0fnfO{ laqmL u/L b]znfO{ cfjZos k/]sf] ljB't zlQmnfO{ s]xL xb;Dd
sd ug{ sDkgL k|lta4 /x]sf] 5 .
➢ sDkgLn] cfkm\gf] p2]Zo k|flKtsf nflu Joj;flos ?kdf ;DefJo b]lvPsf] hnljB't cfof]hgfx?df nufgL ug]{ .
-v_ k|ltikwf{, ljBdfg cfly{s l:ylt / ;dfg lsl;dsf] pBf]usf] l:yltsf] cfwf/df ;+ul7t ;+:yfsf] Joj;fosf] eljio M
b]zdf dfu eP adf]lhd ljB't cfk"lt{sf] sdL /x]sf] xfnsf] k[i7e"lddf hnljB't cfof]hgf lgdf{0f ug{' cfkm}df ;x|flgo
sfd ePsf] / ljB't v/Lb pTkfbg x'g' cufj} ljB't laqmL ;DaGwL ;Demf}tf ;d]t ;DkGg x'g'n] o; If]qdf cGo ;dfg
lsl;dsf pBf]u;Fu k|lt:kwf{ g/xg] x'bfF o; sDkgLn] hnljB't If]qdf cfkm\gf] cnu klxrfg :yflkt ug{ ;kmn x'g]5 .
g]kfndf hnljB't pTkfbgsf] k|r'/ ;Defjgf /x]sf] ePtf klg jt{dfg cj:yfdf ljB't dfu / k"lt{ aLr 7'nf] cGt/ /x]sf]
5 . h;n] ubf{ g]kfnL hgtfx?sf] dfu tyf pBf]usfnflu cfjZos dfqfdf ljB't cfk"lt{ x'g ;ls/x]sf] 5}g . hnljB't
cfof]hgfx?sf] kof{Kt ljsf; x'g ;s] g]kfn nufot l5d]sL d'n'sx?df ;d]t lgof{t ug{ ;lsG5 . To;}n] xfnsf]
cj:yfdf o; Joj;fodf k|lt:kwf{sf] cj:yf ;[hgf x'g ;Sg] ;Defjgf Hofb} Go"g /x]sf] 5 . o;y{ sDkgLn] cfkm\gf]
Joj;fosf] lg/Gt/tfsfnflu cuf8L a9fPsf hnljB't cfof]hgfx?sf] klxrfg tyf ljsf; ubf{ cGo j:t'sf] pTkfbgdf
h:tf] k|lt:kwf{ ug'{ kb}{g .
3_ ;~rfns ;ldltsf] ;+/rgf / k|ltlglwTj ;DaGwL Joj:yf
;+rfns ;ldltsf] ;+/rgf, ;+rfnsx?sf] of]Uotf / k|ltlglwTj tyf ;+rfns x'g'sf] nflu lng'kg]{ Go"gtd z]o/ ;+Vof
;DaGwL Joj:yf M
o; sDkgLsf] lgodfjnLsf] lgod @& df ePsf] Joj:yf cg';f/ b]xfo adf]lhd k|ltlglwTj x'g] u/L & -;ft_ hgf
;~rfns /x]sf] Ps ;~rfns ;ldlt x'g]5 . h;dWo] ! hgf dlxnf ;~rfns clgjfo{ /xg' kg]{5 . ++++++++++++++++++++++++++++++++++++++++ ++++++++++++++++++++++++++++++++++++++++++++++++
;+:yfks ;d"xsf z]o/wgLx?af6 lgjf{lrt % -kfFr_ hgf
;j{;fwf/0f ;d"xsf z]o/wgLx?af6 lgjf{lrt ! -Ps_ hgf
:jtGq ;~rfns ! -Ps_ hgf
gf]6 M xfn o; sDkgLdf ;j{;fwf/0f ;d"x tyf :jtGq ;~rfns ;d]t u/L b'O{ hgf ;~rfnssf] kb l/Qm /x]sf] 5 .
;~rfnsx?sf] sfo{sfn $ -rf/_ jif{sf] x'g]5 .
o; sDkgLsf]] lgodfjnLsf] lgod @* df Joj:yf eP cg';f/ sDkgLsf] ;~rfns kbdf lgo'Qm x'gsf] nflu s'g}klg
z]o/wgLn] cf gf] gfddf !)) -Ps ;o_ lsQf z]o/ lnPsf] x'g'kg]{5 . t/ :jtGq ;~rfns / ;+ul7t ;+:yfsf] k|ltlglwTj
ug]{ ;~rfnssf] xsdf of] Joj:yf nfu' x'g] 5}g .
u=$= k"FhL ;+/rgf ;DaGwL hfgsf/L M
-s_ clws[t, hf/L tyf r'Qmf k"FhL / ;++:yfsf] :yfkgf kZrft ;f] df kl/jt{g ePsf] eP tT;DaGwL ljj/0f M
clws[t k"FhL M sDkgLsf] clws[t k"FhL ?= %),)),)),))).– -cIf/]kL krf; s/f]8 dfq_ /x]sf]] 5 . pQm k"FhLnfO{ ?=!)).—
sf b/n] %),)),))) -krf; nfv_ yfg ;fwf/0f z]o/df ljefhg ul/Psf] 5 .
hf/L k"FhL M sDkgLsf] tTsfn hf/L ug]{ z]o/ k"FhL ?= $),&&,)%,%)).– -cIf/]kL rfln; s/f]8 ;txQ/ nfv kfFr xhf/ kfFr
;o dfq_ /x]sf] 5 . pQm k"FhLnfO{ ?=!)).— sf b/n] $),&&,)%% -rfln; nfv ;txQ/ xhf/ krkGg_ yfg z]o/df
ljefhg ul/Psf] 5 .
r'Qmf k"FhLM xfn sDkgLsf] r'Qmf k"FhL ?= #@, !, $,$))÷– -cIf/]kL aQL; s/f]8 Ps;¶L nfv rf};¶L xhf/ rf/ ;o ?k}+of
dfq_ /x]sf] 5 . pQm k"FhLnfO{ ?= !)).– sf b/n] #@, !, $$ -aQL; nfv Ps;¶L xhf/ 5 ;o rjfln;_ yfg z]o/df
10
ljefhg ul/Psf] 5 . o; ljj/0f kq dfkm{t ?= $,)&,&),%)).– -rf/ s/f]8 ;ft nfv ;Q/L xhf/ kfFr ;o dfq_ a/fj/sf]
z]o/ /sd cfof]hgf k|efljt If]qsf :yfgLo jfl;GbfnfO{ z]o/ lgisfzg u/] kZrft r'Qmf /sd ?= # , (,#$,()).–
x'g]5 . ;fy}, cfof]hgf k|efljt If]qsf :yfgLo jfl;GbfnfO{ z]o/ lgisfzg u/] kZrft ?= $,)&,&), )).– a/fa/sf] /sd
;j{;fwf/0fnfO{ lgisfzg ug]{ / ;f] lgisfzg tyf afF8kmfF8 kZrft sDkgLsf] r'Qmf /sd ?= $),&&,)%,%)).– -cIf/]kL
rfln; s/f]8 ;txQ/ nfv kfFr xhf/ kfFr ;o dfq_ x'g]5 .
clws[t, hf/L tyf r'Qmf k"FhLdf eO{cfPsf]÷kl/jt{g ePsf] eP tT;DaGwL ljj/0f M
o; sDkgLsf]] :yfkgf kZrft\ k"FhLdf ePsf] kl/jt{g ;DaGwL ljj/0f M
qm=;+ cf= j= clws[t k"FhL Hff/L k"FhL r'Qmf k"FhL s}lkmot
!= 2062/12/09 ?=!,)),)),)))÷– ?=!,)),)),)))÷– ?=!,)),)),)))÷– –
@= 2066/03/21 ?=@$,)),)),)))÷– ?=@$,)),)),)))÷– ?=!,)),)),)))÷– –
#= 2066/06/23 ?=@$,)),)),)))÷– ?=@$,)),)),)))÷– ?=!,#@,)),)))÷– –
$= 2067/12/06 ?=@$,)),)),)))÷– ?=@$,)),)),)))÷– ?=#,)!,$!,)))÷– –
%= 2068/02/30 ?=%),)),)),)))÷– ?=%),)),)),)))÷– ?=#,)!,$!,)))÷– –
^= 2068/11/02 ?=%),)),)),)))÷– ?=%),)),)),)))÷– ?=$,@%,$!,)))÷– –
&= 2069/03/06 ?=%),)),)),)))÷– ?=%),)),)),)))÷– ?=$,#%,$!,)))÷– –
*= 2072/04/11 ?=%),)),)),)))÷– ?=#(,)!,%),)))÷– ?=@&,31,00,000/– –
(= 2075/03/27 ?=%),)),)),)))÷– ?=$),&&,)%,%))÷– ?=#@,^!,^$,$))/–
sDkgL /lhi6«f/sf] sfof{nosf] ldlt
@)&%÷)#÷@& sf] z]o/ nut
k|dfl0ft ljj/0f cg';f/
?=#@,^!,^$,$))/- sfod ePsf] .
-v_ lgisfzg kl5sf] r'Qmf k"FhL -;d"xs[[t ul/Psf] cj:yfdf ;f]xL cg'?k M
;fwf/0f z]o/ lgisfzg u/L afF8kmfF8 u/] kZrft\ x'g] sDkgLsf] r'Qmf k"FhLsf] ;+/rgf b]xfo adf]lhd /x]sf] 5 M
;d"x z]o/wgLx? ;fwf/0f z]o/ ;+Vof k"FhL k|ltzt -Ü_ r'Qmf /sd e'QmfgL k|ltzt
s ;+:yfks z]o/wgLx? #@, !, $$ *)Ü #@, !, $,$))÷– zt k|ltzt
v cfoff]hgf k|efljt If]qsf afl;Gbf z]o/wgLx? $,)&,&)% !)Ü $,)&,&),%))÷– lgisfzg kZrft zt k|ltzt x'g]
u ;j{;fwf/0f z]o/wgLx? -sd{rf/L ;lxt_ $,)&,&) !)Ü $,)&,&), ))÷– lgisfzg kZrft zt k|ltzt x'g]
hDdf $),&&,)%% !))Ü $),&&,)%,%))÷– zt k|ltzt
gf]6 M cfof]hgf k|efljt If]q u'NdL lhNnfsf :yfgLo afl;Gbfx?sf] nflu lgisfzg ul/Psf] lwtf]kq k"0f{ ?kdf laqmL gePdf laqmL
geO{ afFsL /x]sf] lwtf]kq ;j{;fwf/0fdf lgisflzt ul/g] lwtf]kqdf yk u/L laqmL ul/g]5 . o;/L yk ubf{ sd{rf/L tyf ;fd"lxs
nufgL sf]if of]hgfnfO{ lgisfzg ul/g] lwtf]kq tyf ;j{;fwf/0fnfO{ lgisfzg ul/g] lwtf]kqsf] ;+Vofdf ;d]t ;f]xL adf]lhd x]/km]/
x'g]5 / g]kfn lwtf]kq af]8{nfO{ hfgsf/L u/fO{ cfJxfgkq k|sflzt ubf{ ;f]xL adf]lhd k|sflzt ul/g]5 .
-u_ z]o/ lk|ldod vftf -lgisfzg k"j{ / lgisfzg kZrft\_
o; ;+ul7t ;+:yfsf] z]o/ lk|ldod vftf ;DaGwL ljj/0f b]xfo adf]lhd /x]sf] 5 M
z]o/ lk|ldod vftf -lgisfzg k"j{_ M ;f] gePsf]
z]o/ lk|ldod vftf -lgisfzg kZrft_ M ?= *!,%$,!@)÷–
u=%= ;+:yfks÷;~rfns ;DaGwL hfgsf/L M
u=%=s_ ;+:yfks÷;~rfnssf] k[i7e"ldM
-s_ cfwf/e"t z]o/wgLx? tyf ;~rfnsx?sf] gfd, kb, pd]/, /fli6«otf, 7]ufgf, z]o/ :jfldTj, z}lIfs of]Uotf, cg'ej /
k|:tfljt Jofkf/÷Joj;fodf cg'ej M
• cfwf/e"t z]o/wgLsf] ljj/0f
qm=;+= gfd, 7]ufgf kb pd]/
-jif{_ /fli6«otf z]o/ :jfldTj z}lIfs of]Uotf cg'ej -;DalGwt jf cGo_
!
>L e/t k|;fb
g]kfn, b]p/fnL–#,
kfNkf
;~rfns %* g]kfnL $,*%,)%)
lsQf
:gfts
n'lDagL ;'u/ ldN;df !((# b]vL
@))& ;Dd !$ aif{ l;lgo/ k|zfzg
k|d'vsf] cg'ea .
@
k'jf{Grn Oge]i6d]G6
P08 8]enkd]G6
k|f=ln, ljtf{df]8 @,
emfkf
cfwf/e"t
z]o/wgL
nfu"
gx'g] g]kfnL
$#,^))
lsQf nfu" gx'g] nfu" gx'g]
11
# ;fljqL clwsf/L,
wflbË w'jfsf]6 *
cfwf/e"t
z]o/wgL $$ g]kfnL
$^,*&)
lsQf P;Pn;L u[lx0fL
$ tf/f k|;fb ;+h]n,
ch'{gw/f – %, emfkf
cfwf/e"t
z]o/wgL &) g]kfnL
%$,%))
lsQf la=P8= lga[Q lzIfs efg' pRRf df=lj= emfkf
%
x/L k|;fb lg/f}nf,
ch'{gw/f – %, emfkf
cfwf/e"t
z]o/wgL &) g]kfnL
%$,%))
lsQf cfO{ P= ;dfh;]jL
8Da/ a= b]phf,
ch'{gw/f – %, emfkf
cfwf/e"t
z]o/wgL %% g]kfnL
%$,%))
lsQf
k|lj0ftf
k|df0f–kq
tx
axfnjfnf lzIfs k~r /Tg df=lj=
emfkf
&
cfbz{ gfu/Ls
Oge]i6d]G6 sDkgL
k|f=nL, a'6jn *,
?kGb]xL lhNnf
cfwf/e"t
z]o/wgL nfu"
gx'g]
g]kfnL
^^,$()
lsQf nfu" gx'g] nfu" gx'g]
*=
8f=;+lbk zfx
sf=d=g=kf= !),
sf7df08f} lhNnf
cfwf/e"t
z]o/wgL %! g]kfnL
$(,)%)
lsQf lk=Pr=l8=
ljleGg :jb]zL tyf ljb]zL hnljB't\
cfof]]hgfsf] cWoog, lgdf{0f tyf
;+rfngsf] cg'ej .
;~rfns– a'6jn kfj/ sDkgL ln=
(=
Ps/fh kf08]
dbfgk'/ ^, g'jfsf]6
lhNnf
cfwf/e"t
z]o/wgL $% g]kfnL
!,@&,%#)
lsQf la=sd Joj;fodf ;+nUg
!)=
lg/f cof{n
sf=d=g=kf= %,
sf7df08f} lhNnf
cfwf/e"t
z]o/wgL $# g]kfnL
*!,&%)
lsQf la=P u[lx0fL
• ;~rfnsx?sf] ljj/0f M
qm=;+= gfd, 7]ufgf kb pd]/
-jif{_ /fli6«otf
z]o/
:jfldTj z}lIfs of]Uotf
cg'ej k|:tfljt
Jofkf/÷Joj;fodf
cg'ej ;DalGwt cGo
!
>L cflzif ;'j]bL,
sf=d=g=kf –!,
sf7df8f}+ }+ lhNnf
;~rfns $% g]kfnL !),())
Pd=P;=l;=
xfO8«f] kfj/
8]Efnkd]G6
➢ cfof]hgf Joj:yfkg,
s/f/ Joj:yfkgf,
hnljB't of]hgf
th'{df ug]{,
➢ s+lqm6 Joj;fodf
;+nUg
gePsf]
@
>L e/t k|;fb
g]kfn,
b]p/fnL–#, kfNkf
;~rfns %* g]kfnL $,*%,)%) :gfts
–
➢ n'lDagL ;'u/
ldN;df !((#
b]vL @))& ;Dd
!$ aif{ l;lgo/
k|zfzg k|d'vsf]
cg'ea .
gePsf]
#
>L ldg /fh
s8]+n
a]gL3f6–!, wflbË
lhNnf
;~rfns @ g]kfnL !),())
la=P,
la=P8=
–
➢ /fli6«o ;xsf/L
dxf;+3, k'Nrf]s,
nlntk'/– cWoIf
gePsf]
$
>L ud k|;fb
/]ZdL
a'6jn–!),
?kGb]xL lhNnf
;~rfns ) g]kfnL %,$%)
l8Knf]df O{g
OlGhlgo/ª –
➢ ;fs'/f kfOk pBf]u
k|f=ln df ;+rfns
@) =!@==!& b]vL
;~rfngdf
gePsf]
%
>L rGb| axfb'/
k'g
z+s/gu/ ,
?kGb]xL lhNnf
;~rfns %& g]kfnL @,!*)
/fhlgtL
zf:qdf
:gfsf]Q/
–
➢ l/6fo8{ cfdL{ sg]{n
clkm;/
gePsf]
12
o; sDkgLsf] cWoIfsf] ?kdf >L cflzif ;'j]bL sfo{/t /xg' ePsf] 5 . sf=d=g=kf –!, sf7df8f}+ :yfoL a;f]af; /xg' ePsf >L
cflzif ;'j]bLn] :gfsf]Q/;Ddsf] z}lIfs of]Uotf xfl;n ug'{ePsf] 5 .
-v_ ;+:yfksx? s'g} sDkgL÷;+:yf ePdf To:tf] sDkgL÷;+:yfsf] gfd tyf 7]ufgf ;lxtsf] ;+lIfKt ljj/0f (Profile) / pQm
sDkgL÷;+:yfsf ;~rfnsx?sf] gfd, 7]ufgf, -k|fs[lts JolQm gv'n];Dd_ M
qm=;+ ;+:yfksx?sf] gfd
tyf 7]ufgf ;+lIfKt ljj/0f ;+rfnsx?sf] gfd tyf 7]ufgf
!
cfbz{ gfu/Ls
Oge]i6d]G6 sDkgL
k|f=ln, a'6jn, ?kGb]xL
Jofkf/ k|s[lt M Aofkf/Ls ;]jf, ;Dklt
C0fdf nufgL
/lhi68{ g+= !@%( ÷) & ÷)^*
btf{ ldlt M @) &)%@!
Kofg g+=#)$$!@##)
clws[t k"FhL M(,)),)),)))=))
xf]d axfb'/ unfdL, a'6jn (, ?kGb]xL–cWoIf
ud k|;fb /]ZdL, a'6jn *, ?kGb]xL– ;+rfns
v]d/fh k'g, a'6jn *, ?kGb]xL–;+rfns
wg axfb'/ /fgf, x'uf+ @ u'NdL cWoIf–;+rfns
lx/f s'df/L yfkf, lnD3f * u'NdL–;+rfns
g/ axfb'/ >L;, xl/rf}/ ! afUn'ª–;+rfns
1fg axfb'/ yfkf, a'6jn !!, ?kGb]xL–;+rfns
7fs'/ axfb'/ /fgf, Vofxf * kfNkf–;+rfns
a]lg/fd /fgf, lrt'{Ëwf/f * kfNkf–;+rfns
@=
k'jf{Grn Oge]i6d]G6
P08 8]enkd]G6
k|f=ln, ljtf{df]8 @,
emfkf
Jofkf/ k|s[lt Mz]o/ vl/b las|L -z]o/
nufgL_
/lhi68{ g+= %(@&$
btf{ ldlt M @) %÷)(÷@#
Kofg g+= M #)#%%$@(#
clws[t k"FhL M %,)),)),)))=))
l8NnL/fd l;6f}nf, gS;fn, sf7df8f}+–cWoIf
gf/fo0f k|;fb sf n], rf/kfg]–emfkf–;+rfns
s]zj k|;fb cf]emf, tf]kuf5L–(, emfkf–;+rfns
/fd s'df/ a'9fyf]sL, OefË #, Onfd –;+rfns
g/xl/ Gof}kfg], km'naf/L & tfKn]h'Ë–;+rfns
8Da/ axfb'/ b]phf, rsrsL –#, emfkf – ;+rfns
df]xg s'df/ kf]v|]n, nvgk'/ (, emfkf–;+rfns
#=
rs|]Zj/ OËnL;
af]l8{Ë
:s'n, rGb|sf]6 –#,
u'NdL
Jofkf/ k|s[lt M k|fOe]6 af]l8{ª :s'n
/lhi68{ g+= M !!)*
btf{ ldlt M @) )÷!@÷!
Kofg g+= M #)@$ # @
clws[t k"FhL M & ,$),)))=))
b]j]Gb| zfx, rGb|sf]6 –#, u'NdL–cWoIf
bf]0f{ vqL, rGb|sf]6 –#, u'NdL–;+rfns
/fd k|;fb v/]n, rGb|sf]6 –#, u'NdL–;+rfns
czf]s yfkf, rGb|sf]6 –#, u'NdL–;+rfns
k"0f{ uf}td, rGb|sf]6 –#, u'NdL–;+rfns
sdn ;'j]bL, rGb|sf]6 –#, u'NdL–;+rfns
$=
;fpy j]i6g{ :6]6\
sn]h, a;'Gw/f,
sf7df8f}+
Jofkf/ k|s[lt MlzIf0f ;+:yf
/lhi68{ g+= #%)@&
btf{ ldlt M @) @÷)#÷!
Kofg g+= #)#$!#!$&
clws[t k"FhL M! #(*#@))
O=af;'b]j lji6, vf]Knfª % uf]/vf – cWoIf
wlg/fd jnL, lahf}/L – #, bfË – ;+rfns
lxdk|;fb kf7s, Hofd?Ë– , wflbË – ;+rfns
s[i0f axfb'/ sfsL{ – ;'gf/kfgL–%, /fd]5fk– ;+rfns
8f= hoxl//fh kf08] – sf=d=g=kf $, sf7df08f} – ;+rfns
dfwj k|;fb d/x¶f – uf]/vsfnL–#, uf]/vf – ;+rfns
8f=/fh]Gb| s]=;L– km"nvs{ –%, wflbË – ;+rfns
%=
/fwf s[i0f P08 a|bz{
sG:6«szg k|f=ln,
l;Gw'kfNrf]s
Jofkf/ k|s[lt M lgdf{0f Aoa;fo
/lhi68{ g+= $&%*!÷)^$÷) %
btf{ ldlt M @)^$÷)%÷)@
Kofg g+= #)@&%(!(
clws[t k"FhL M!,)),)),)))=))
/fds'df/ Kofs'/]n, l;Gw'kfNrf]s – k|aGws lgb]{zs
;+lutf s'df/L emf, l;zf}6–@, ;nf{lx – lgb]{zs
-u_ ;+ul7t ;++:yfsf] ;~rfns cGo s'g} sDkgL, ;++:yf, sf]if, ;+u7g;Fu cfj4 eP To:tf] ;~rfns / cfj4 ePsf] ;+:yfsf]
gfd, 7]ufgf M
sDkgLsf ;~rfnsx? cfj4 /x]sf cGo sDkgL, ;+:yf, sf]if, ;+u7g jf kmd{x?sf] ljj/0f b]xfo cg';f/ 5 M
l;=g+= ;+rfnssf] gfd, 7]ufgf cfj4 /x]sf] ;+:yfsf] gfd, 7]ufgf
! >L cflzif ;'j]bL
sf=d=g=kf –!, sf7df8f}+ }+ lhNnf
s+lqm6 Joj;fodf ;+nUg
13
@= >L ldg /fh sF8]n
a]gL3f6–!, wflbË
/fli6«o ;xsf/L dxf;+3, k'Nrf]s, nlntk'/– cWoIf
#= >L ud k|;fb /]ZdL
a'6jn–!), ?kGb]xL
;fs'/f kfOk pBf]u k|f= ln, a'6jn, ?kGb]xL– ;+rfns
;+ul7t ;++:yfsf sd{rf/Lx? cGo ;"rLs[t ;+ul7t ;+:yfsf] cfwf/e"t z]o/wgLsf] ?kdf /x]sf] jf sd{rf/Lx?n] cGo s'g}
;+ul7t ;+:yfdf u/]sf] nufgL ;DaGwL ljj/0fM
sDkgLsf ;+rfnsx?sf] ;DaGwdf ;+rfnsx?af6 ;'lrs[t ;+ul7t ;+:yfx?sf] ;+:yfut ;'zf;g ;DaGwL lgb]{lzsf @)&$
cg';f/sf k|fjwfgx? tyf sDkgL P]g @) # sf] bkmf *( sf] pkbkmf -!_ 5 df pNn]lvt k|fjwfgx?sf] k'0f{ ?kdf kfngf ePsf]
5 .
-3_ ;+:yfks÷;~rfnssf] xs x:tfGt/0f aGb]h ;DaGwL ljj/0f M
s_ ;DalGwt lgsfosf] k"j{ :jLs[lt glnO{ sDkgLsf] z]o/ s'g} JolQm jf ;+:yfnfO{ laqmL ljt/0f ul/g] 5}g .
v_ ;DalGwt lgsfosf] k"j{ :jLs[lt lnO{ ;+:yfks / ;j{;fwf/0f ;d"xsf] z]o/ :jfldTj ;DaGwL Joj:yf ul/g]5 .
u_ sDkgLn] dfu u/] adf]lhd z]o/sf] /sd e'QmfgL kZrft z]o/ laqmL ubf{ jf lwtf]aGws /fVg' kbf{ ;DalGwt lgsfosf]
k"j{ :jLs[lt lnO{ z]o/ v/Lb ljqmL ug{ kfpg]5 . t/ To;/L xs 5f]8\bf jf x:tfGt/0f ubf{ kl5Nnf] k|fyldstf h'g ;d"xsf
z]o/wgLx?nfO{ lbg'kg]{5 . o;/L z]o/ ljqmL ubf{ Ps eGbf a9L z]o/wgLn] z]o/ v/Lbug{ rfx]df lghn] wf/0f u/]sf]
z]o/sf] cg'kftdf ljt/0f ug'{kg]{5 . ;f] ;d"xsf s'g} klg ;+:yfks z]o/wgLn] z]o/ lng] OR5f gu/]df dfq To:tf] z]o/
;+rfns ;ldltsf] lg0f{o adf]lhd ;DalGwt lgsfosf] :jLs[lt lnO{ cGo JolQm, kmd{, sDkgL jf ;+:yfnfO{ ljqmL ug{ ;lsg]
5 .
3_ z]o/ v/Lb ubf{ Go"gtd !) lsQf / !) c+sn] efu ubf{ z]if g/xg] u/L v/Lb ug{ ;lsg]5 . t/ xsk|b z]o/ / af]gz
z]o/ nfu" ul/Pdf of] aGb]h nfu" x'g] 5}g .
ª_ sDkgLsf ;+rfns, sfo{sf/L k|d'v, n]vfk/LIfs, ;lrj jf sDkgLsf] Joj:yfkg tyf n]vf ;DaGwL sfo{df k|ToIf ?kn]
;+nUg JolQmn] To:tf] kbdf axfn /xbfsf] avt jf sDkgLsf] z]o/ cf gf] jf cf gf] kl/jf/sf] lgoGq0fdf /x]sf] kmd{,
sDkgL, jf ;+:yfsf] gfddf v/Lb laqmL ug{, u/fpg, ug{ lbg, lwtf] aGws /fVg, /fVg nufpg jf bfg as; lng, lbg jf
n]gb]g ug{ x'Fb}g .
r_ s;}n] v08 -ª_ sf] ljkl/t sfd u/]df To:tf] z]o/ sDkgLn] hkmt ug{ ;Sg]5 / To;/L hkmt ePsf] z]o/ ;+rfns
;ldltn] plrt 7x¥ofPsf] k|lqmofaf6 lalqm ljt/0f ug{ ;Sg]5 .
5_ z]o/ v/Lb jf x:tfGt/0f ug{ aGb]h ;DaGwL cGo Joj:yf k|rlnt lwtf]kq ;DaGwL sfg"g, sDkgL sfg"g / lwtf]kq
sf/f]af/ ;DaGwL sfg"g tyf cGo k|rlnt sfg"gdf pNn]v eP adf]lhd x'g]5 .
ælwtf]kq btf{ tyf lgisfzg lgodfjnL, @)&#Æ sf] lgod -#*_ sf] pklgod -!_ df ePsf] Joj:yf cg'?k lwtf]kq ;fj{hlgs
lgisfzg ug{ ;Sg] u/L ;+:yflkt ;+ul7t ;+:yfsf ;j{;fwf/0f afx]s cGo ;d"x -;+:yfks / cGo ;d"x_ n] lnPsf] z]o/ ;+ul7t
;+:yfn] ;fj{hlgs lgisfzg u/]sf] z]o/ afF8kmfF8 ePsf] ldltn] tLg jif{sf] cjlw k"/f geO{ laqmL ug{ kfO{g] 5}g .
u=%=v_ ;+:yfks÷;~rfns;Fusf] sf/f]jf/M
-s_ ;+ul7t ;++:yfaf6 s'g} ;+:yfks÷;~rfnsn] k|ToIf jf ck|ToIf ?kdf s'g} j:t' jf ;'ljwf -cfly{s jf u}/cfly{s_ k|fKt u/]sf]
jf k|fKt ug]{ ePdf To:tf] j:t' jf ;'ljwfsf] k|s[lt / d"No / To:tf] ;'ljwf lbP jfkt ;+ul7t ;+:yfn]s'g} ;DklQ, ;]jf k|fKt
u/]sf] jf ug]{ ePdf tT;DaGwL ljj/0fM
;f] gePsf] .
-v_ aF'bf -s_ df pNn]lvt j:t' jf ;'ljwfsf] d"No lgwf{/0f ug{ ckgfOPsf] tl/sf M
;f] gePsf] .
u= = ;ldt bfloTj ;DaGwL ljj/0f M
o; sDkgLsf sf/f]af/sf] ;DaGwdf z]o/wgLx?sf] bfloTj lghn] v/Lb u/]sf] jf v/Lb ug{ sa'n u/]sf] z]o/sf] c+lst
d"No;Dd dfq l;ldt /xg]5 .
t/ s'g} z]o/wgL jf ;~rfnsn] ;f] x}l;otdf t]>f] kIf;Fu u/]sf] JolQmut hdfgt ;DaGwL ;Demf}tf adf]lhdsf] bfloTjsf]
xsdf of] Joj:yf nfu" x'g] 5}g .
u=&= ;+ul7t ;+:yfsf] sd{rf/L ;DaGwL hfgsf/L M
u=&= s_ ;+ul7t ;+:yfsf] pRr Joj:yfksLo txsf clws[t sd{rf/Lx? ;DaGwL ljj/0fM
-s_ ;+ul7t ;++:yfsf] pRr Joj:yfksLo txsf sd{rf/Lsf] gfd, of]Uotf, lgo'lQm ePsf] ldlt, klxn] u/]sf] sfdsf] cg'ej
tyf ;+ul7t ;++:yfsf] z]o/ lnPsf] eP z]o/ ;+Vof ;DaGwL ljj/0f . ;fy} To:tf] sd{rf/Lx? cGo s'g} ;"lrs[t
14
;+ul7t ;+:yfsf] cfwf/e"t z]o/wgL eP jf cGo s'g} ;+ul7t ;+:yfdf nufgL u/]sf] eP pQm ;+ul7t ;+:yfsf] gfd
/ nufgL u/]sf] /sd v'nfpg' kg]{ .
qm=;+= sd{rf/Lsf]
gfd kb of]Uotf lgo'lQm ldlt sfof{g'ej
z]o/
;+Vof
cGo s'g} ;"lrs[t ;+ul7t ;+:yfsf]
cfwf/e"t z]o/wgL eP jf cGo s'g}
;+ul7t ;+:yfdf nufgL u/]sf] eP pQm
;+ul7t ;+:yfsf] gfd / nufgL u/]sf]
/sd
! >L anb]j
anfdL
Joj:yfkg
k|d'v :gfts @)&#÷)$÷!%
➢ k|aGws – cfs[tL ax'p2]zLo ;xsf/L
;+:yf ln df % jif{sf] sfo{g'efj
➢ k|zf;g tyf n]vf k|d"v – o'lg6]s g]6js{
k|f= ln Wi -Max "Bundling
Partner of Nepal Telecom" df @
jif{sf] sfo{g'efj
– gePsf]
@ >L uf]ljGb
rfln;]
6]lSgsn
;Nnfxsf/
-cf+lzs ;do
dfq_
:gfts
-OlGhlgol/Ë_
:gfsf]Q/
Aoa:yfkg
:yfkgfsfn b]lv
➢ of]hgf k|aGws M;f]n'vf]nf -b'wsf]zL_
xfO8«f]On]lS6«s cfof]hgf -*^ d]ufjf6_
➢ of]hgf k|aGws M BheriBabai
Diversion Multipurpose Project,
Component B- Hydropower (48MW)
➢ of]hgf k|aGws M Tadi HPP (5MW)
➢ Site In-charge: Middle Marsyangdi
Hydroelectric Project (70MW)
– gePsf]
# >L lji0f'
k|;fb kf08]
pks/0f
k|aGws
-Plant
Manager_
:gfts
:yfkgfsfn b]lv
➢ g]kfn xfO8«f]df / Engineering
Works df 5 dlxgfsf] sfo{g'efj
➢ Jidco df Jofkf/ lzIfssf] ?kdf !
jif{sf] sfof{g'ej .
➢ a'6jn kfj/ sDkgL lnld6]8–6]lSgsn
clws[t / Plant Manager sf] ?kdf
df !* jif{sf] sfof{g'ej .
@,))) gePsf]
-v_ ljj/0fkq af]8{df k|:t't ug'{ eGbf ! jif{ cufl8sf] cjlwdf lgod cg';f/ cjsfz k|fKt ePsf] cj:yf afx]s ;+ul7t ;++:yfsf]
pRr Joj:yfksLo txdf /x]sf s'g} sd{rf/L kl/jt{g ePsf] eP ;f] ;DaGwL ljj/0fM
;f] gePsf] .
-u_ sd{rf/Lsf] ;+VofM :yfoL, c:yfoL, s/f/, Hofnfbf/L / cGo M
o; cfof]hgfsf] cfof]hgf :yn, cGo ef}lts k"jf{wf/ :yn / sDkgLsf] /lhi6{8{ sfof{nodf u/L b]xfo adf]lhdsf sd{rf/L
sfo{/t /x]sf 5g\ M
qm=;+= s'n sd{rf/L ;+Vof :yfoL tflnd]÷ k/LIf0f sfn÷c:yfoL s/f/ Hofnfbf/L cGo
1 27 @&* – – – –
gf]6 M *cfof]hgf cjlwe/sfnflu lgo'Qm sd{rf/Lx?nfO{ dfq ;dfj]z ul/Psf] 5 .
u=&= v_ ;~rfns Pj+ pRr Joj:yfksLo txsf clws[tnfO{ lbPsf] eQf tyf kfl/>lds ;DaGwL ljj/0f M
-s_ ;~rfns ;ldltsf] cWoIf nufot cGo ;b:ox?nfO{ k|bfg ul/g] jf ul/Psf] a}7s eQfsf] b/ tyf lghx?nfO{ k|bfg ul/g]
jf ul/Psf] b}lgs tyf e|d0f eQf tyf cGo ;'ljwfM
!= ;~rfns ;ldltsf] a}7sdf pkl:yt eP jfkt cWoIfn] kfpg] k|lt j}7s eQf ?= ,)))÷– / cGo ;~rfnsn]
kfpg] k|lt j}7s eQf ?= %,%))÷– x'g]5 .
@= sDkgLsf] sfdsf] l;nl;nfdf cWoIf nufot ;~rfnsx?nfO{ k|bfg ul/g] b}lgs tyf e|d0f eQf b]xfo adf]lhd
x'g]5 M
• e|d0f vr{ jf:tljs lan cg';f/ . sDkgLsf] jf JolQmut ;jf/L ;fwg k|of]u u/]sf] cj:yfdf rngrNtL
uf8L ef8f / OGwg vr{ ePsf] jf:tljs lan k]z ug'{kg]{5 .
o; afx]s sDkgLsf] ldlt @)& ÷)%÷#) df ;DkGg ePsf] rf}+wf}+ jflif{s ;fwf/0f ;efaf6 ;~rfnsx?sf] ;]jf ;'ljwfsf ;DaGwdf
sDkgLsf] :yfkgfsfnb]lv of]ubfg ub}{ cfpg'ePsf cWoIf nufot ;Dk"0f{ ;+rfnsx?nfO{ lgDg adf]lhd dfl;s ;'ljwf k|bfg ug]{
k|:tfj kfl/t ePsf] 5 .
qm=;+= gfd kb dfl;s e'Qmfg ul/Psf] /sd ?=
! >L cflzif ;'j]bL cWoIf #!,)))÷–
15
@ >L e/t k|;fb g]kfn ;+rfns #),)))÷–
# >L ldg/fh s+8]n ;+rfns #),)))÷–
$ >L ud k|;fb /]ZdL ;+rfns #))))÷–
% >L rGb| axfb'/ k'g ;+rfns #))))÷–
-v_ ;+ul7t ;+:yfsf] pRr Joj:yfksLo txsf tLg hgf clws[tx?sf] gfd , kb / Ps cfly{s jif{sf] cjlw leq pgLx?nfO{
kfl/>ldssf] ?kdf e'Qmfg ul/Psf] /sdM
Ps cfly{s jif{sf] cjlw leq pgLx?nfO{ kfl/>ldssf] ?kdf e'Qmfg ul/Psf] /sd M
qm=;+= sd{rf/Lsf] gfd kb kfl/>ldssf] ?kdf e'Qmfg ul/Psf] /sd -cf=j=@)& ÷)&&_
! >L anb]j anfdL Joj:yfkg k|d'v 5,48,170.67 @ >L uf]ljGb rfln;] 6]lSgsn ;Nnfxsf/ -kf6{ 6fOd_ 5,52,000.00 # >L lji0f' k|;fb kf08] pks/0f k|aGws -Plant Manager_ 14,29,779.00
u_ s'g} clws[t jf ;~rfnsnfO{ eljiosf] nflu s'g} /sd k|bfg ul/g] u/L s/f/ ul/Psf] eP ;f] ;DaGwL ljj/0fM
;f] gePsf] .
u=*= cGtlg{lxt hf]lvd tyf ;f]sf] Joj:yfkgsf nflu Joj:yfkgsf] wf/0ff M
;+ul7t ;+:yfn] axg u/]sf] jf ug]{ hf]vLd :ki6 ?kdf pNn]v ug'{ kg]{ . o; ;Gbe{df hf]vLdx?nfO{ ;+ul7t ;+:yfsf] cfGtl/s
jf Joj;fo÷kl/of]hgf;Fu k|ToIf cyjf ;+ul7t ;+:yfsf] lgoGq0f eGbf aflx/sf] egL alu{s/0f u/L k|d'v ?kdf b]xfosf]
hf]vLdsf] ljZn]if0f ug'{ kg]{ .
-s_ ljQLo ;fwgsf] cefjaf6 x'g] hf]lvd M
• cfof]hgfsf] lgdf{0f sfo{ ;DkGg eO{ ;+rfngdf cfO;s]sf]n] ljQLo hf]lvdsf] cj:yf g/x]sf] .
• sfa' aflx/sf] b}lj k|sf]ksf] hf]lvd ;bf /xL /xg] .
• sDkgLdf cfj4 z]o/wgLx?n] sa'n u/]sf] ;Dk"0f{ /sd k|fKt eO{;s]sf] / a}+saf6 ;d]t C0f k|fKt u/L
;s]sf]n] ljQLo ;fwgsf] cefjaf6 s'g} klg hf]lvd g/x]sf] .
• o; kl/of]hgf u'NdL lhNnfsf] rGb|sf]6 ufFpkflnsf j8f g+ / & df /x]sf] 5 . o; If]qdf COVID-19
dxfdf/Lsf] ;+qmd0f xfn;Dd ge]l6Psf] / ;f] sf] ;+efjgf ;d]t xfnnfO{ Go"g /x]sf] x'gfn] cfof]hgf
;+rfngdf s'g} hf]lvd g/x]sf] . ;fy}, eljiodf ;+qmd0faf6 x'g;Sg] hf]lvdsf] tTsfn Joj:yfkgsfnflu
sDkgL ;hu /x]sf] 5 .
-v_ sRrf kbfy{sf] cefjaf6 x'g] hf]lvd M
• hn>f]tsf] d'xfgdf jftfj/0fdf ck|Toflzt ?kdf kl/jt{g eO{ kfgLsf] >f]t 36\g uPdf pTkfbg Ifdtf
36\g ;Sg] hf]lvd /x]sf] .
• hnljB't cfof]hgfsf] cWoogsf] qmddf bL3{sflng tYofÍ ;d]t cWoog tyf ljZn]if0f ul/Psf] x'gfn]
;fdfGo cj:yfdf o:tf] hf]lvd g/xg] .
-u_ pTkfbg jf ;]jfsf] ahf/sf] l:ylt / o;df cfpg] kl/jt{gaf6 x'g] hf]lvd M
• g]kfn ljB't k|flws/0f;Fu ljB't v/Lb ug]{ ;Demf}tf eO;s]sf] x'gfn] ahf/sf] hf]lvd g/x]sf] .
-3_ cfof]hgf ;DkGg x'g l9nfO{ x'g] ;Defjgf / To;af6 x'g] d"No clea[l4 (Cost Overrun) sf] hf]lvd M
cfof]hgf k"0f{ ?kdf ;DkGg eO{ ;+rfngdf cfO;s]sf] x'gfn] s'g} To:tf] hf]lvd g/x]sf] .
-ª_ ljb]zL ljlgdosf] hf]lvd M
xfn To:tf] hf]lvd g/x]sf] .
-r_ sfg"gL k|lqmofx? tyf O{hfht k|fKt ug'{kg]{ eP ;f]af6 kg{ ;Sg] cj/f]wx? M
xfn sDkgLn] k'/f ug'{kg]{ ;Dk"0f{ sfg"gL k|lqmofx? k"/f ul/;s]sf] / k|fKt ug{'kg]{ ;Dk"0f{ Ohfhtkqx? k|fKt
u/L ;s]sf]n] cfof]hgfsf] lgdf{0f tyf ;~rfngdf ;f] ;DaGwL s'g} cj/f]w g/x]sf] .
-5_ If]qLos/0f / ljZjJofkLs/0f (Globalization) sf sf/0faf6 pTkGg x'g ;Sg] hf]lvd M
• cGt/fl{i6«o ahf/df x'g] cfly{s dGbLaf6 z]o/ ahf/df c;/ k/]df z]o/ d"Nodf c;/ kg{ ;Sg] .
• k|:tfljt z]o/ cfof]hgf k|efljt If]q u'NdL lhNnfsf afl;GbfnfO{ laqmL ljt/0f ePkl5 # jif{;Dd xs
x:tfGt/0f aGb]h /x]sf] / pQm ;do;Dddf xfnsf] z]o/ ahf/af6 k|ToIf ?kdf tTsfnnfO{ sd c;/
kg{ hfg] .
-h_ ;/sf/L gLlt tyf lgodx?df x'g] kl/jt{g tyf ljZjJofkL ?kdf x'g] gLltut kl/jt{gaf6 pTkGg x'g] hf]lvd M
• g]kfn ;/sf/sf] hnljB't ;DaGwL cfly{s tyf ljQLo gLlt lgoddf x'g] kl/jt{gaf6 >[hgf x'g ;Sg]
hf]lvdx? .
16
• s/, eG;f/ cflb ;DaGwL Joj:yfdf kl/j{tg ePdf >[hgf x'g ;Sg] hf]lvdx? .
• hnljB't pks/0fx? cfoft ;DaGwL lgltx? kl/jt{gaf6 x'g] hf]lvdx? .
-em_ ;~rfng Oltxf;sf] cefj M
o; sDkgL ldlt @) @÷!@÷)( df :yfkgf eO{ ldlt @)&!÷!@÷)( b]lv ljB't pTkfbg u/L g]kfn ljB't
k|flws/0fnfO{ ljB't cfk"lt{ ul//x]sf]n] ubf{ ;~rfng Oltxf;sf] cefj g/x]sf] . - _ k|ljlwsf] kl/jt{gaf6 x'g] ;Sg] hf]lvd M
• hnljB't cfof]hgf lgdf{0fsf nflu cfjZos 6jf{Og, :k]o/ kf6{\;, h]g]/]6/ nufotsf ljleGg pks/0fdf
cfpg] kl/jt{g tyf gofF k|ljlwaf6 ljB't pks/0fx? km]hcfp6 ePdf .
• hnljB't afx]s cGo >f]taf6 ljB't pTkfbg ePdf s]xL xb;Dd o; Joj;fodf c;/ kg]{ hf]lvd
/x]sf] .
-6_ cGo M
• b]zsf] /fhg}lts cl:y/tfaf6 cfpg ;Sg] hf]lvdx? .
• k"FhL ahf/sf] cj:yfdf cfpg] ptf/–r9fjaf6 kg{ ;Sg] hf]lvdx? .
• ;~rflnt hnljB't cfof]hgfdf cfpg ;Sg] hf]lvdx? dWo] e'sDk, af9L klx/f] h:tf sf/0fn] x'g] Iflt
/ o;af6 ljB't pTkfbgdf kg]{ k|efjnfO{ Go"lgs/0fsf nflu kl/of]hgfsf] ;Dk"0f{ ;DklQnfO{ vfDg] u/L
aLdfsf] Joj:yf ul/Psf] 5 . hnjfo' kl/jt{gaf6 vf]nfdf kfgLsf] jxfjdf yk36 x'g uO{ tb\cg'?k
ljB't pTkfbgdf 36a9 x'g ;Sb5 . o;sfnflu ljB't pTkfbgdf sdL cfPdf xhf{gf ldgfxf x'g] Joj:yf
sfod /x]sf] 5 .
pk/f]Qmfg';f/sf] hf]lvdx?nfO{ Go"g jf Joj:yfkg ug]{ ;DaGwdf Joj:yfkgsf] of]hgfM
hn>f]tsf] lx;fjn] g]kfn ljZjs} wgL b]zx?df kg]{ s'/f ;j{ljlbt} x'Fbf x'Fb} klg g]kfndf phf{ zlQmsf] cTolws dfu
/x]sf] / ;f] sf] cfk"lt{ k"0f{ ?kdf x'g g;]s]sf] kl/k|]Iodf phf{sf] >f]tsf] ?kdf hn>f]t g} k|d'v / e/kbf]{ >f]t ePsf]
b]lvG5 . t;y{ phf{sfnflu hnljB'tsf] cfjZostf / dxTj slxNo} sd gx'g] x'Fbf hnljB'tsf] nufgLdf Go"g hf]lvd
/x]sf] eGg]df Jojyfkgsf] wf/0ff /x]sf] 5 . phf{ k|fKt ug]{ ljleGg >f]tx? ePtf klg kfgLaf6 pTkfbg x'g] hnljB't
gljs/0fLo phf{ ePsf]n] hnljB't cfof]hgfx?n] jftfj/0fdf gsf/fTds k|efj kfb}{g . To;sf/0f phf{sf cGo >f]tx?
eGbf kfgLaf6 pTkfbg x'g] hnljB'tn] jftfj/0fLo xfgL sd ug]{ / o;sf] nfut cGo phf{ eGbf t'ngfTds ?kdf sd
/xg] x'Fbf cGo >f]taf6 pTkfbg x'g] ljB't eGbf kfgLaf6 pTkfbg x'g] hnljB't cfof]hgfx?df sd hf]lvd /x]sf] wf/0ff
Joj:yfkgsf] /x]sf] 5 .
aLdf ;DaGwL ljj/0fx? M
!= aLdf sDkgLsf] gfd M k|'8]lG;on OG:of]/]G; sDkgL lnld6]8, sdnfbL, sf7df8f}+ .
@= aLdfn] axg ug]{ hf]lvd M o; sDkgL tyf cfof]hgfsf] cfjZos ;+/rgf, d]l;g, cf}hf/ tyf pks/0fx?
#= ;Dk"0f{ ;DklQx? aLdf ul/Psf] s"n /sd M ?= *(,)) ,&@%÷–
l;=g+= ;DklQx?sf] ljj/0f aLdf ul/Psf] /sd ?=
!= l;len #@*,# $,!&$=(#
@= xfO8«f]d]sflgsn !( ,)*$,%$%=($
#= On]S6«f]d]sflgsn !$(,*&$,%$!=&&
$= la/jf; ;j:6]zg (,(&&, !@=&!
%= sfof{nosf] Sjf6/df /x]sf] x]8jf]s{ -l;len jf]s{_ #,!)*,$(*=!)
= l:y/ ;DklQ -sfof{nosf] pks/0fx?_ !,%)&,#%!=*%
hDdf aLdf /sd ^*(,)) ,&@%=#)
$= ;Dk"0f{ ;DklQx?sf] s"n lk|ldod /sd M ?= !,$$),#(!=!
%= Loss of Profit af6 x'g;Sg] hf]lvdnfO{ Go'lgs/0f ug{ ?= &,)),)),)))÷– /sd a/fa/sf] aLdf ul/Psf] 5 /
;f] sf] lk|ldod /sd ?=!!*, &@= ) e'QmfgL ul/Psf] .
= aLdfn]v hf/L ldlt M )#÷)$÷@)@)
&= aLdfn]v ;dflKt ldlt M )@÷)$÷@)@!
lwtf]kqsf]] d"No kl/jt{g ;DaGwL hf]lvd M
?= !))÷– k|lt z]o/sf] b/n] lgisfzgdf cfof]hgf k|efljt If]q u'NdL lhNnfsf afl;Gbfx?sf] nflu ?= !))÷– k|lt
z]o/df g} tyf ;j{;fwf/0fx?sf] nflu ?= !))÷– k|lt z]o/sf] b/n] lgisfzgdf lk|ldod ?= @)÷– yk u/L k|lt z]o/ ?=
17
!@)÷– sfod ul/Psf] d"Non] ;"rLs/0f kZrft\ g]kfn :6s PS;r]Gh lnld6]8df x'g] sf/f]jf/ d"No ghgfpg] ePsf]n]
z]o/ d"Nodf x'g;Sg] kl/jt{gsf] hf]lvd /x]sf] 5 .
u=(= ljQLo ljj/0fM
u=(= s_ ljQLo ljj/0f / tT;DaGwdf Joj:yfkgsf] wf/0ff / ljZn]if0fM
-s_ ;+ul7t ;+:yfsf] n]vfk/LIf0f ePsf] kl5Nnf] cfly{s jif{sf] jf;nft, gfkmf gf]S;fg lx;fa, gfkmf gf]S;fg lx;fa afF8kmfF8 /
gub k|jfx ljj/0fM
sDkgLsf] cf=j= @)& ÷)&& sf] jf;nft, gfkmf—gf]S;fg lx;fa, tyf gub k|jfxsf] ljj/0f lgDgfg';f/ 5 M–
jf;nft -cfiff9 #!, @)&&_
ljj/0f jf:tljs -?= xhf/df_
2076÷077
;DklQ
u}/ rfn' ;DklQ
;DklQ, d]lzg/L tyf pks/0f 3,152 cd"t{ ;DklQx? 599,004 nufgL ;DklQ 6,584 k"j{ e'QmfgL - ljQLo ;DklQ - Jofkf/ tyf cGo k|fKtLx?÷cf;fdLx? 14 hDdf u}/ rfn' ;DklQ -!_ 608,752 rfn' ;DklQ
df}Hbft 2,720 k"j{ e'QmfgL 6,088 ljQLo ;DklQ - gub tyf gub a/fa/ 15,752 Jofkf/ tyf cGo k|fKtLx?÷cf;fdLx? 62,557 6d{ l8kf]lh6df nufgL - hDdf rfn' ;DklQ -@_ 87,116 hDdf ;DklQ -!±@_ 695,869 OlSj6L / bfloTjx?
OlSj6L
z]o/ k"FhL 326,164 l/he{ / ;K{N; 61,447 clu|d z]o/ - hDdf OlSj6L -#_ 387,611 u}/ rfn' bfloTj - ljQLo bfloTj - ;fk6L 233,929 hDdf u}/ rfn' bfloTj -$_ 233,929 rfn' bfloTj
ljQLo bfloTj - ;fk6L 68,809 sd{rf/L nfe bfloTj 1,193 6«]8 / cGo bfloTj 4,327 hDdf rfn' bfloTj -%_ 74,329 hDdf OlSj6L / bfloTjx? -#±$±%_ 695,869
gfkmf–gf]S;fg lx;fa ->fj0f !, @)& b]lv cfiff9 #!, @)&&_
ljj/0f jf:tljs -?= xhf/df_
2076÷077
cfDbfgL 146,693 laqmL nfut (42,928) s"n gfkmf 103,764
18
ljQLo cfDbfgL 251 ljQLo nfut (36,581) cGo cfDbfgL 22 k|zf;lgs vr{ (7,285) Impairment Losses (514) s/ / sd{rf/L jf]gz cl3sf] gfkmf 59,656 sd{rf/L jf]gz Joj:yf (1,193) s/ cl3sf] gfkmf 58,463 s/ vr{ - o; jif{sf] cfos/ (75) ut jif{ ;dfof]hg ul/Psf] s/ - :ylut s/ cfDbfgL÷-vr{_ - v'b gfkmf 58,389
gub k|jfxsf] ljj/0f ->fj0f !, @)& b]lv cfiff9 #!, @)&&_
ljj/0f jf:tljs -?= xhf/df_
2076÷077
;~rfng ultljlwaf6 gub k|jfx cfos/ kl5sf] v'b gfkmf÷gf]S;fg 58,464 ;dfof]hg - ;DklQ, d]lzg/L tyf pks/0fsf] xf«;sl§ 541 cd"No ;DklQx?sf] kl/zf]wg 22,103 sd{rf/L jf]gz Joj:yf - ut jif{sf] ;dfof]hg - ljQLo nfut 36,330 d'2tL vftfdf Aofh - af]gz lt/]sf] - sfo{lzn k"FhLdf kl/jt{gx?sf] nflu ;dfof]hg
Jofkf/ cf;fdLx?df ePsf] sdL÷-a[l4_ (27,123) k'j{ ;Grfng vr{df ePsf] a[l¢÷-sdL_ 6,080 df}Hbftdf ePsf] a[l¢÷-sdL_ 1,776 Jofkf/ tyf cGo bfloTjx?df ePsf] a[l¢÷-sdL_ (668) ;~rfng ultljlwaf6 v'b gub k|jfx -!_ 97,502 nufgL ultljlwaf6 gub k|jfx
l:y/ ;DklQdf ePsf] kl/jt{gx? - nufgLdf ePsf] a[l4÷-sdL_ (6,584) d'2tL vftfdf Aofh - l:y/ ;DklQdf ePsf] ljlqm÷-vl/b_ (235) cd"No ;DklQx?df ePsf] ljlqm÷-vl/b_ - nufgL ultljlwaf6 v'b gub k|jfx -@_ (6,818) ljlQo ultljlwaf6 gub k|jfx
z]o/ k"FhLaf6 k|fKt - ;fk6Ldf ePsf] kl/jt{g (40,498) ljQLo nfut (36,330) nfefZf+ ljt/0f (32,616) ljlQo ultljlwaf6 v'b gub k|jfx -#_ (109,444) gub k|jfxdf v'b a[l4÷-sdL_ -!±@±#_ (18,760) jif{sf] z'?df ePsf] gub 34,512 clGtd gub 15,751
-v_ ;~rfng cjlw tLg jif{ JotLt e};s]sf] cj:yfdf ljut tLg jif{sf] / tLg jif{ JotLt e}g;s]sf] cj:yfdf ;~rfng
cjlwe/sf] n]vfk/LIf0f ePsf] gfkmf gf]S;fg, jf;nft ;lxtsf] ;+lIfKt ljQLo ljj/0f-;xfos sDkgL eP ;dli6s[t
?kdf_ M
sDkgLsf] cf=j= @)&$÷)&%, cf=j= @)&%÷& / @)& ÷&& sf] ljlQo ljj/0f tn pNn]v ul/Psf] 5 .
19
jf;nft
ljj/0f jf:tljs -?=xhf/df_
2074÷075 2075÷076 2076÷077
;DklQ
u}/ rfn' ;DklQ
;DklQ, d]lzg/L tyf pks/0f 3,600 3,457 3,152 cd"t{ ;DklQx? 643,211 621,107 599,004 nufgL ;DklQ - - 6,584 k"j{ e'QmfgL 514 514 - ljQLo ;DklQ - - - Jofkf/ tyf cGo k|fKtLx?÷cf;fdLx? 14 14 14 hDdf u}/ rfn' ;DklQ -!_ 647,338 625,092 608,752 rfn' ;DklQ
df}Hbft 2,822 4,495 2,720 k"j{ e'QmfgL 3,308 11,654 6,088 ljQLo ;DklQ - - - gub tyf gub a/fa/ 13,628 34,512 15,752 Jofkf/ tyf cGo k|fKtLx?÷cf;fdLx? 68,756 35,434 62,557 6d{ l8kf]lh6df nufgL 20,000 - - hDdf rfn' ;DklQ -@_ 108,513 86,094 87,116 hDdf ;DklQ -!±@_ 755,851 711,187 695,869 OlSj6L / bfloTjx?
OlSj6L
z]o/ k"FhL 326,164 326,164 326,164 l/he{ / ;K{N; 32,639 35,674 61,447 clu|d z]o/ - - - hDdf OlSj6L -#_ 358,803 361,838 387,611 u}/ rfn' bfloTj
ljQLo bfloTj - - - ;fk6L 342,542 288,236 233,929 hDdf u}/ rfn' bfloTj -$_ 342,542 288,235 233,929 rfn' bfloTj
ljQLo bfloTj - - - ;fk6L 50,000 55,000 68,809 sd{rf/L nfe bfloTj - 1,785 1,193 6«]8 / cGo bfloTj 4,505 4,329 4,327 hDdf rfn' bfloTj -%_ 54,504 61,113 74,329 hDdf OlSj6L / bfloTjx? -#±$±%_ 755,851 711,187 695,869
gfkmf–gf]S;fg lx;fa
ljj/0f jf:tljs -?=xhf/df_
2074÷075 2075÷076 2076÷077
cfDbfgL 122,197 123,552 146,693 laqmL nfut (37,830) (39,133) (42,928) s"n gfkmf 84,367 84,419 103,764 ljQLo cfDbfgL 2,763 3,171 251 ljQLo nfut (44,612) (43,019) (36,581) cGo cfDbfgL 5 - 22 k|zf;lgs vr{ (7,004) (7,401) (7,285) Impairment Losses - - (514) skf]{/]6 ;fdflhs pQ/bfloTj vr{ - - - s/ / sd{rf/L jf]gz cl3sf] gfkmf 35,518 37,171 59,656 sd{rf/L jf]gz Joj:yf (710) (743) (1,193) s/ cl3sf] gfkmf 34,808 36,427 58,463
20
s/ vr{ - - - o; jif{sf] cfos/ (692) (777) (75) ut jif{ ;dfof]hg ul/Psf] s/ - - - :ylut s/ cfDbfgL÷-vr{_ - - - v'b gfkmf 34,116 35,650 58,389
u_ cfly{s jif{ ;dfKt ePsf] dlxgf kZrft ljj/0fkq :jLs[ltsf] nflu k]z u/]df pQm cGtl/d cjlwsf] nflu n]vfk/LIfsaf6
k|dfl0ft u/]sf] ckl/is[t ljQLo ljj/0f M
jf;nft
ljj/0f ckl/is[t -?=xhf/df_
2077÷078 -kf}if d;fGt;Dd_
;DklQ
u}/ rfn' ;DklQ
;DklQ, d]lzg/L tyf pks/0f 2,886 nufgL ;DklQ 6,584 cd"t{ ;DklQx? 587,952 hDdf u}/ rfn' ;DklQ -!_ 597,422 rfn' ;DklQ
df}Hbft 5,116 k"j{ e'QmfgL 6,196 ljQLo ;DklQ
gub tyf gub a/fa/ 26,669 Jofkf/ tyf cGo k|fKtLx? 75,896 hDdf rfn' ;DklQ -@_ 113,876 hDdf ;DklQ -!±@_ 711,297 OlSj6L / bfloTjx?
OlSj6L
z]o/ k"FhL 326,164 l/he{ / ;K{N; 116,396 hDdf OlSj6L -#_ 442,561 u}/ rfn' bfloTj
ljQLo bfloTj
;fk6L 206,429 hDdf u}/ rfn' bfloTj -$_ 206,429 rfn' bfloTj
ljQLo bfloTj
;fk6L 55,000 6«]8 / cGo bfloTj 7,308 hDdf rfn' bfloTj -%_ 62,308 hDdf bfloTjx? -^Ö$±%_ 268,737 hDdf OlSj6L / bfloTjx? -#±^_ 711,297
gfkmf–gf]S;fg lx;fa
ljj/0f ckl/is[t -?=xhf/df_
2077÷078 -kf}if d;fGt;Dd_
cfDbfgL 92,537 laqmL nfut (18,885) s"n gfkmf 73,651 cGo cfDbfgL - k|zf;lgs / cGo ;+rfng vr{ (1,031) sd{rf/L nfe vr{ (2,585) x|f;s§L / kl/zf]wg (266) ;+rfng cl3sf] gfkmf 69,769
21
ljQLo cfDbfgL 29 ljQLo nfut (13,720) sd{rf/L af]g; cl3sf] gfkmf 56,078 sd{rf/L af]g; (1,122) s/ cl3sf] gfkmf 54,957 cfos/ vr{ (7) o; jif{sf] gfkmf 54,950 cGo cfo - hDdf cfo 54,950
-3_ cfDbfgL / vr{ lx;fjsf] s'g} zLif{sdf 7"nf] dfqfdf kl/jt{g ePdf To;sf] ljZn]if0ffTds sf/0f M
;f] gePsf] .
-ª_ kl5Nnf] ljQLo ljj/0fsf] n]vfk/LIf0f eP kZrft ;+ul7t ;+:yfsf] sf/f]af/, gfkmf gf]S;fg, ;DklQsf] d"No jf cfufdL !@ dlxgfsf]
bfloTj e'QmfgLdf c;/ kg]{ u/L s'g} cj:yf l;h{gf ePsf] 5÷5}g ;f] ;DaGwdf ;~rfnsx?sf] wf/0ff M
;f] gePsf] .
-r_ cfly{s jif{ ;dfKt ePkl5 ljj/0fkq k]z u/]df, ljj/0fkq k]z u/]sf] ldltaf6 :jLs[lt x'g] ldlt;Dddf jf;nftsf] ldlt kl5sf]
36gfsf] jf/]df 5'§} hfgsf/L M
;f] gePsf] .
-5_ ljut % jif{df ;DklQsf] k'gd"{Nof+sg ul/Psf] 5÷5}g, olb ul/Psf] eP -c_ ;DklQsf] ljj/0f, -cf_ ;DklQsf] k"gd"{Nof+sg cl3
/ kl5sf] lstfjL d"No, -O{_ k"gd"{Nof+sgsf] cf}lrTo M
;f] gePsf] .
-h_ cfufdL tLg jif{sf] k|If]lkt jf;nft, gfkmf gf]S;fg lx;fasf ;fy} To;sf u0fgfsf] cfwf/x? M
sDkgLsf] cfufdL # cfly{s jif{sf] nflu k|If]lkt ljQLo l:ylt b]xfo adf]lhd /x]sf] 5 M
jf;nft
ljj/0f k|If]lkt -?=xhf/df_***
2077÷078 2078÷079 2079÷080
;DklQ
u}/ rfn' ;DklQ
;DklQ, d]lzg/L tyf pks/0f 2,543 1,934 1,325 cd"t{ ;DklQx? 555,849 533,746 511,642 nufgL ;DklQ 30,000 30,000 15,000 k"j{ e'QmfgL - - - ljQLo ;DklQ - - - Jofkf/ tyf cGo k|fKtLx?÷cf;fdLx? 14 14 14 hDdf u}/ rfn' ;DklQ -!_ 588,406 565,694 527,981 rfn' ;DklQ
df}Hbft 2,772 2,683 2,493 k"j{ e'QmfgL 6,088 6,088 6,088 ljQLo ;DklQ
gub tyf gub a/fa/ 24,785 20,332 16,507 Jofkf/ tyf cGo k|fKtLx?÷cf;fdLx? 45,689 42,087 41,070 6d{ l8kf]lh6df nufgL - - - hDdf rfn' ;DklQ -@_ 79,334 71,190 66,158 hDdf ;DklQ -!±@_ 667,740 636,884 594,139 OlSj6L / bfloTjx?
OlSj6L
z]o/ k"FhL 407,706 407,706 407,706 l/he{ / ;K{N; 77,060 99,751 116,087 clu|d z]o/ 8,154 8,154 8,154 hDdf OlSj6L -#_ 492,920 515,611 531,947 u}/ rfn' bfloTj
22
ljQLo bfloTj - - - ;fk6L 117,208 58,364 - hDdf u}/ rfn' bfloTj -$_ 117,208 58,364 - rfn' bfloTj
ljQLo bfloTj - - - ;fk6L 55,000 60,000 59,613 sd{rf/L nfe bfloTj - - - 6«]8 / cGo bfloTj 2,612 2,909 2,579 hDdf rfn' bfloTj -%_ 57,612 62,909 62,192 hDdf OlSj6L / bfloTjx? -#±$±%_ 667,740 636,884 594,139
gfkmf–gf]S;fg lx;fa
ljj/0f k|If]lkt -?=xhf/df_***
2077÷078 2078÷079 2079÷080
cfDbfgL 133,506 129,168 119,962 laqmL nfut (41,866) (43,107) (44,356) s"n gfkmf 91,640 86,061 75,606 ljQLo cfDbfgL 1,413 2,296 1,757 ljQLo nfut (24,469) (13,873) (8,759) cGo cfDbfgL 22 22 22 k|zf;lgs vr{ (7,938) (8,574) (9,266) Impairment Losses - - - skf]{/]6 ;fdflhs pQ/bfloTj vr{ (584) (589) (640) s/ / sd{rf/L jf]gz cl3sf] gfkmf 60,084 65,343 58,720 sd{rf/L af]gz Joj:yf (1,202) (1,307) (1,174) s/ cl3sf] gfkmf 58,882 64,036 57,546 s/ vr{ (353) (574) (439) o; jif{sf] cfos/ - - - ut jif{ ;dfof]hg ul/Psf] s/ - - - :ylut s/ cfDbfgL÷-vr{_ - - - v'b gfkmf 58,529 63,462 57,107
** k|If]lkt ljQLo ljj/0f sDkgL cfkm}n] tof/ kf/]sf] xf] / ;f] ljQLo ljj/0fx? k'g/fjnf]sg u/L l7s 5 egL P; cf/ kf08] P08
sDkgLsf rf6{8{ Psfp06]G6 >L ;'bz{g /fh kf08]af6 k|dfl0ft ul/Psf] 5 .
ljQLo k|If]k0fsf cfwf/ tyf tl/sfx? M
ljQLo k|If]k0fsf cfwf/ tyf tl/sfx? M
!= cfDbfgL M
o; sDkgLsf] cfDbfgL g]kfn ljB't k|flws/0fsf] ;Demf}tfkqdf ePsf] k|lt PsfO{ nfut cg';f/ u0fgf ul/Psf] 5 / ;f] sf]
ljj/0f tn pNn]v ul/Psf] 5 M
kf}if–r}q j}zfv – df3
@)&& j}zfv b]lv @)&& r}q d;fGt;Dd ?=(=^^ ?=%=%@ ÷lsnf]jf6 306f
@)&* j}zfv b]lv @)&* r}q d;fGt;Dd ?=(=^^ ?=%=%@ ÷lsnf]jf6 306f
@)&( j}zfv b]lv @)&( r}q d;fGt;Dd ?=*=^* ?=$=(^ ÷lsnf]jf6 306f
@)*) j}zfv b]lv @)*) r}q d;fGt;Dd ?=*=*( ?=%=)* ÷lsnf]jf6 306f
@)*! j}zfv b]lv @)*! r}q d;fGt;Dd ?=*=*( ?=%=)* ÷lsnf]jf6 306f
@)*@ j}zfv b]lv @)*@ r}q d;fGt;Dd ?=*=*( ?=%=)* ÷lsnf]jf6 306f
@= cGo Aofh cfDbfgL
sDkgLn] cfˆgf] gub ?k}+of d'2tL÷sn vftfdf nufgL u/L cf}iftdf jflif{s @ k|ltzt gub / gub a/fa/ tyf ^ k|ltzt
d'2tL vftfsf] Aofh cfDbfgL k|fKt ug]{ k|If]k0f ul/Psf] 5 .
#= /f]oN6L vr{
/f]oN6L vr{sf] u0fgf ljB't P]g, @)$( adf]]lhd tn pNn]v eP cg';f/ /x]sf] k|If]k0f ul/Psf] 5 M
Ifdtf adf]lhd /f]oN6L M ?= !))÷d]ufjf6
23
cfDbfgL adf]lhd /f]oN6L M lansf] /fhZjsf] @ k|ltzt
/f]oN6Lsf] vr{x?nfO{ ;d"xj¢ adf]lhd ljqmLsf] nfut cg';f/ (as required in NFRS_
$= ljQLo vr{x?
sDkgLn] e'QmfgL ug]{ Aofhx? ltg{ afFsL C0f /sdsf] jflif{s (=) k|ltztsf] b/n] u0fgf ul/Psf] 5 .
%= sd{rf/Lx?sf] af]gz
af]gz P]g, @)#) / ljB't P]g @)$( cg';f/ ljB't pTkfbg ug]{ sDkgLn] gfkmfsf] @Ü sd{rf/L af]g; afkt Joj:yf ug]{
k|If]k0f ul/Psf] 5 .
^= cGo vr{x?
cGo vr{x? jflif{s * k|ltztsf] b/n] a9\g] k|If]k0f ul/Psf] 5 .
&= g]kfn ljB't k|flws/0faf6 k|fKt x'g afFls /sdsf] u0fgf ubf{ b'O{ dlxgfsf] cjlwnfO{ cfwf/ dflgPsf] 5 .
*= cGo k|fKt x'g afFsL /sd
cfDbfgL a9]sf] cfwf/df cGo k|fKt x'g] /sd ;d]t j[l4 x'g] k|If]k0f ul/Psf] 5 .
(== df}Hbft
cfDbfgL a9]sf] cg';f/ a9\g] k|If]k0f ul/Psf] 5 .
!)= /f]oN6L ltg'{kg]{
rf/÷rf/ dlxgf u/L jif{sf] tLg k6s /f]oN6L ltg]{ k|If]k0f ul/Psf] 5 .
!!= cGo ltg'{kg]{
cGo ltg'{kg]{x? j[l4 b/ a9] cg';f/ a9\g] k|If]k0f ul/Psf] 5 .
!@= l:y/ ;DklQ
s'g} klg l:y/ ;DklQ yk x'g] 5}g / s'g} klg km/s ePdf Tof] l:y/ ;DklQsf] dd{t cGtu{t kg]{ k|If]k0f ul/Psf] 5 .
!#= cg'bfg kfpg]
sDkgLn] cfly{s jif{ @)&&÷&* df k|lt d]ufjf6 ?=%% nfv cg'bfg kfpg] k|If]k0f ul/Psf] 5 .
!$= k|fylds lgisfzgaf6 k|fKt /sd
k|fylds lgisfzgaf6 k|fKt ePsf] /sd sDkgLn] lb3{sflng C0f r'Qmf ug{ tyf cfof]hgfsf] cGo ;+rfng vr{ ug{sf nflu
k|of]u ul/g]5 .
!%= k|fylds lgisfzgaf6 k|fKt lk|ldod /sd
k|fylds lgisfzgaf6 k|fKt x'g] ?= @)÷– a/fa/sf] lk|ldod /sd cfof]hg k|efljt If]qsf afl;Gbfx? afx]saf6 p7\g] k|If]if0f
ul/Psf] 5 .
!^= x«f; s§L
l:y/ ;DklQsf] x«f; s§L ;DklQsf] hLjg cjlw cg';f/ u0fgf u/L ;db/ k|0ffnL (Straight Line Method) cg';f/ s§f
ul/Psf] 5 . h;cg';f/ ;DklQsf] hLjg cjlw lgDgfg';f/ sfod ul/Psf] 5 M
hUuf, ejg tyf pks/0f M k|of]u ug{ ;lsg] cjlw cg';f/
;jf/L ;fwg M !% jif{
cGo ;DklQ M !) jif{
!&=cd"t{ ;DklQx?sf] kl/zf]wg
kl/of]hgfdf /x]sf ;DklQx?nfO{ cd"t{ ;DklQsf] ?kdf u0fgf ul/Psf] 5 / ltgLx?sf] kl/zf]wg ;DklQsf] hLjgsf] cfwf/df
ul/Psf] 5 .
!*= cfos/ b/
o; sDkgL cfos/ P]g, @)%* bkmf !!-# 3_ adf]lhd cfly{s jif{ @)*! r}q d;fGt;Dd skf]{/]6 cfos/ 5'6 /x]sf] 5 /
;f] kZrft cfly{s jif{ @)*! r}q d;fGt kZrft !@=% k|ltztsf] b/n] cfos/ nfUg] / cfly{s jif{ @)*^ r}q d;fGt
kZrft @% k|ltztsf] b/n] cfos/ nfUg] .
24
u=(= v_ ljQLo cg'kft ;DaGwL ljj/0fM
s_ ;+ul7t ;+:yfsf] ;~rfngcjlw tLg jif{ JotLt e};s]sf] cj:yfdf ljut tLg jif{sf] / tLg jif{ JotLt e}g;s]sf] cj:yfdf
;~rfng cjlwsf] tyf cfufdL tLg jif{sf] k|If]lkt k|lt z]o/ cfDbfgL(EPS)k|lt z]o/ g]6jy{ tyf g]6jy{df cf};t k|ltkmn
lgDgfg';f/ 5 .
sDkgLsf] g]6jy{df ePsf] jf:tljs tyf k|If]lkt cf};t k|ltkmn b]xfo adf]lhd 5 M
g]6jf]y{
ljj/0f jf:tljs -?= xhf/df_ k|If]lkt -?= xhf/df_**
2074/075 2075÷076 2076÷077 2077÷078 2078÷079 2079÷080
r'Qmf kF"hL 326,164 326,164 326,164 407,706 407,706 407,706 ;l~rt gfkmf÷gf]S;fg 32,640 35,674 61,447 77,060 99,751 116,087 z]o/ lk|ldod - - - 8,154 8,154 8,154 hDdf 358,804 361,838 387,611 492,920 515,611 531,947 ckn]vg x'g aFfsL vr{ - - - - - - s'n g]6jf]y{ 358,804 361,838 387,611 492,920 515,611 531,947 z]o/ ;+Vof -…))) df_ 3,262 3,262 3,262 4,077 4,077 4,077 k|lt z]o/ g]6jf]y{ -?=_ 110.01 110.94 118.84 120.90 126.47 130.47 v'b gfkmf÷gf]S;fg 34,116 35,650 58,389 58,529 63,462 57,107 k|lt z]o/ cfDbfgL -?=_ 10.46 10.93 17.90 14.36 15.57 14.01 g]6jf]y{df k|ltkmn -Ü_ 9.51 9.85 15.06 11.87 12.31 10.74 k|lt z]o/ r'Qmf k"FhL -?=_ 100.00 100.00 100.00 100.00 100.00 100.00
** k|If]lkt ljQLo ljj/0f sDkgL cfkm}n] tof/ kf/]sf] xf] / ;f] ljQLo ljj/0fx? P;=cf/=kf08] P08 sDkgLsf rf6{8{ Psfp06]G6
>L ;'bz{g /fh kf08]n] k|dfl0ft ul/Psf] 5 .
lgisfzg k"j{sf] k|lt z]o/ cfDbfgL (EPS) sfod /fVg a[l4 x'g] g]6jy{df cfjZos Go"gtd k|ltkmn (Minimum return on
increased networth required to maintain pre issue EPS)M !%=% %
-v_ ljut # jif{sf] g]6jy{df ePsf] cf}ift k|ltkmn M !!=$& Ü
u=!)= lwtf]kq lgisfzg ;DaGwL ljj/0f M
u=!)=s_ lwtf]kq hf/L ug'{sf] p2]Zo M
sDkgLsf] k|aGwkq tyf lgodfjnLdf Joj:yf eP cg';f/ o; ljj/0fkq dfkm{t sDkgLn] cf gf] hf/L kF"hLsf] !) k|ltzt
cyf{t ?= $,)&,&),%))÷– /sd a/fa/sf] ?= !))÷– c+lst b/sf $)&,&)% lsQf ;fwf/0f z]o/ cfof]hgf k|efljt
If]q u'NdL lhNnfsf :yfgLo afl;Gbfx?sfnflu / hf/L k"FhLsf] !)Ü cyf{t ?= $,)&,&), ))÷– /sd a/fa/sf] ?= !))÷–
c+lst b/df lk|ldod jfkt ? @)÷– yk u/L hDdf d'No ? !@)÷– df $,)&,&) lsQf ;j{;fwf/0fx?sf] nflu nufgLsf]
cj;/ lbO{ sDkgLsf] k|aGwkqdf ePsf] Joj:yf cg';f/sf] k"FhL ;+/rgf sfod ug{ *,!%,$!! lsQf z]o/ lgisfzg ug{
nfluPsf] xf] . lgisfzgaf6 k|fKt /sd cfof]hgfsf] shf{ e'QmfgLsfnflu k|of]u ul/g] d'Vo p2]Zo /x]sf] 5 .
u=!)=v_ lwtf]kq lgisfzgaf6 k|fKt kF"hLsf] pkof]u M
-s_ lgisfzgaf6 k|fKt x'g] s"n /sdnfO{ s;/L / s'g If]qdf k|of]u ul/g] 5 tt\;DaGwL ljj/0f M
sDkgLn] cfof]hgf k|efljt If]q u'NdL lhNnfsf :yfgLo afl;Gbfsf nflu / ;j{;fwf/0fsf] nflu lgisfzg u/L k|fKt /sd
shf{ e'QmfgLsf nflu k|of]u ug]{5 .
-v_ ;fj{hlgs lgisfzg ul/g] lwtf]kq k"0f{ ?kdf laqmL gePdf ;fj{hlgs lgisfzgsf] p2]Zo k|flKt ug{sf] nflu ckgfOg]
j}slNks Joj:yfM
cGo hnljB't sDkgLn] z]o/ lgisfzg ubf{ ljutdf dfu eGbf a9L z]o/sf] nflu b/vf:t k/L z]o/ sf/f]af/ ;d]t
eO{ ;s]sf] 5 . sy+sbflrt lgisfzg ul/g] lwtf]kq :yflgo afl;Gbfx?n] k"0f{ ?kdf v/Lb gu/]df afFls /xg] lwtf]kqnfO{
;j{;fwf/0fx?sf] nflu lgisfzg ul/g] lwtf]kqdf yk u/L laqmL ljt/0f ul/g]5 . ;fy}, ;j{;fwf/0fsf] nflu lgisfzg
ul/g] lwtf]kq ;d]t k"0f{ ?kdf laqmL gePdf lgisfzg ul/g] lwtf]kqsf] k|Tofe'tL ug{sf nflu >L PgcfOljPn P;
Soflk6n lnld6]8, nflhDkf6, sf7df8f}+åf/f k|Tofe"lt ;]jf k|bfg ul/Psf] 5 .
-u_ cfof]hgfsf] ;~rfng :yfg, cfof]hgf r/0fa4 ?kdf sfof{Gjog ul/g] eP k|To]s r/0fdf nfUg] vr{, s'g} r/0f ;dfKt
e};s]sf] eP ;f] ;DaGwL ljj/0fM
sDkgLaf6 lgdf{0fflwg cfof]hgf u'NdL lhNnfsf] rGb|sf]6 ufFpkflnsf j8f g+= / & -;fljssf] x/]jf uf=lj=;= j8f g+
25
/ & , ?kfsf]6 uf=lj=; j8f g+ &_ df kb{5 . ;f] cfof]hgfsf] nflu cfjZos k"jf{wf/x?sf] lgdf{0f sfo{ ;DkGg eO{
ldlt @)&! r}q ( ut]af6 cfof]hgf ;+rfngdf /xL ljB't pTkfbg eO{/x]sf] 5 .
-3_ cfof]hgf ;DkGg x'g], kl/If0f pTkfbg z'? x'g] / k"0f{ Joj;flos pTkfbg z'? x'g] cg'dflgt ldltM
cfof]hgfsf] lgdf{0f sfo{ ;DkGg eO{ ldlt @)&! r}q (ut] b]lv k"0f{ ?kdf Joj;flos pTkfbg z'? eO;s]sf] 5 .
-ª_ ;+ul7t ;+:yfn] s'g} pks/0f v/Lb u/]sf] jf ug{ nfu]sf] eP pQm pks/0fsf] d"No jf k|:tfljt d"No, ;Knfo;{sf]
gfd / ;Knfo;{;Fu ;Demf}tf ePsf] eP ;f] sf] d"Vo d"Vo a'Fbfx? M
ljutdf O{n]S6«f] d]sflgsn O{SjLkd]G6sf] ;Knfo;{ la kmf]/]; k|f= ln, ef/taf6 v/Lb ul/Psf] O{n]S6«f] d]sflgsn
O{SjLkd]G6sf] d"No ef=?= ;ft s/f]8 5of;L nfv PsfpGg xhf/ ?k}of /x]sf] 5 . xfn pQm sDkgL tyf cGo s'g}
sDkgL;+u s'g} k|sf/sf] ;Demf}tf g/x]sf] .
-r_ s'g} kf6L{;Fu k|ltlnkL clwsf/, 6«]8dfs{, Ohfhtkq, /f]oN6L, ;xsfo{ ;DaGwdf jf ljQLo jf k|fljlws ;Demf}tf
ul/Psf] eP ;f] sf] k|d'v zt{x? / kf6L{sf] gfd, 7]ufgf ;DaGwL lj:t[t ljj/0fM
;f] gePsf] .
-5_ pTkfbg ;DaGwL cfof]hgf eP, ;f] sf] k|s[lt, k|of]ustf{, k|lt:kwf{, nlIft ;d"x, pTkfbg Ifdtf, ljut jif{x?sf] Ifdtf
pkef]u jf eljiodf ul/g] Ifdtf pkef]u ;DaGwL ljj/0fM
cfof]hgfsf] k|s[tL M hnljB't cfof]hgf
k|of]ustf{ M cfof]hgfaf6 pTkflbt laB't zlQm g]kfn ljB't k|lws/0fsf] /fli6«o k|;f/0f nfOg dfkmt{ ;j{;fwf/0fx?n]
k|of]u ul//x]sf] .
k|lt:kwf{ M xfn k|lt:kwf{ g/x]sf] .
nlIft ;d"x M g]kfn ljB't k|lws/0f .
pTkfbg Ifdtf M o; hnljB't cfof]hgfsf] ljB't pTkfbg Ifdtf % d]ufjf6 /x]sf] 5 .
-h_ cfof]hgfsf] nflu cfjZos sRrf kbfy{sf] pknAwtf / To;sf] >f]tM
x'UbL vf]nfsf] kfgL .
-em_ cfof]hgfsf] nflu cfjZos x'g] ljB't, kfgL, Uof;sf] dfqf / To;sf] >f]tM
g]kfn ljB't k|flws/0fsf] s]Gb|Lo k|;f/0f nfOgaf6 ljB't cfk"lt{ eO/x]sf] .
- _ ;fj{hlgs lgisfzgsf nflu ul/g] vr{ k|d'v ?kdf b]xfodf pNn]lvt kIfx?nfO{ lbg] z'Ns ;DaGwL ljj/0fM
-c_ lgisfzg tyf laqmL k|jGwsM
o; ljj/0fkq dfkm{t cfof]hgf k|efljt If]q u'NdL lhNnfsf :yfgLo afl;GbfnfO{ laqmL ul/g] ;fwf/0f z]o/sf]
lgisfzg tyf laqmL k|jGws ;DaGwL sfo{sf nflu ?= !)),)))÷– / ;j{;fwf/0fnfO{ laqmL ul/g] ;fwf/0f z]o/sf]
lgisfzg tyf laqmL k|aGws ;DaGwL sfo{sf nflu ?= @)),)))÷– lgisfzg tyf laqmL k|jGws >L PgPdla
Soflk6n lnld6]8, gfukf]v/L, sf7df8f}++nfO{ ;]jf z'Nssf] ?kdf lbOg]5 .
-cf_ 6«li6 –l8j]Gr/÷a08 lgisfzgsf] xsdf_ M
;f] gePsf] .
-O_ k|Tofe"ltstf{ M
o; ljj/0fkq dfkm{t cfof]hgf k|efljt If]qsf afl;Gbfx?nfO{ hf/L ul/g] $,)&,&)% lsQf z]o/sf] c+lst d"No
?=!))÷– sf] ?= $,)&,&),%))÷– / ;j{;fwf/0fsf nflu hf/L ul/g] $,)&,&) lsQf z]o/sf] c+lst d"No
?=!))÷– df ?= @)÷– lk|ldod yk u/L ?= !@)÷– n] x'g] s"n /sd $,*(,@$,&@)÷– u/L hDdf ?=
*,( ,(%,@@)÷– /sd a/fa/sf] z]o/sf] k|Tofe'tL ug{sf nflu >L PgcfO{laPn P; Soflk6n lnld6]8, nflhDkf6,
sf7df8f}+åf/f k|Tofe"lt ;]jf k|bfg ul/Psf] 5 / ;f] jfkt ?= *,( ,(%@.@) z'Ns k|bfg u/]sf] 5 .
-O{_ lj1x? M
;f] gePsf] .
-p_ n]vfkl/IfsM
sDkgLn] k|If]lkt ljQLo ljj/0fx?sf] k'g/fjnf]sg u/L l7s 5 egL k|dfl0ft ug]{ sfo{ u/] jfkt n]vfk/LIfs P;=
cf/= kf08] P08 sDkgLnfO{ ?= @%),)))÷– -s/ afx]s_ ;]jf z'Ns k|bfg u/]sf] 5 .
-pm_ cGoM
cfof]hgf k|efljt If]qsf nflu
26
;+sng s]Gb|nfO{ cfj]bg kmf/d ;lxt /sd ;+sng u/] jfkt ;+slnt /sddf )=)%Ü -z"Go bzdna z"Go
kfFr k|ltzt_ / afF8kmfF8df gk/]sf] z]o/ jfktsf] /sd cfj]bsx?nfO{ lkmtf{ e'QmfgL lb+bf lkmtf{ e'QmfgL ePsf]
/sddf )=)#Ü -z"Go bzdna z"Go tLg k|ltzt_ ;]jf z'Ns lbg] Joj:yf ul/Psf] 5 .
;j{;fwf/0fsf nflu
l;–cf:af k|0ffnL sfof{Gjog eO{;s]sf] ;Gbe{df l;–cf:afsf] ;b:otf lnPsf a}+s tyf ljQLo ;+:yf / ltgsf
tf]lsPsf zfvf sfof{nox? o; lgisfzgsfnflu ;+sng s]Gb|sf] ?kdf /xg]5g\ . l;– cf:af ;b:o a}+s tyf
ljQLo ;+:yfx?nfO{ s'g} z'Ns sldzg e'Qmfg ug'{gkg]{ / lghx?n] g]kfn lwtf]kq af]8{n] tf]s] adf]lhdsf] z'Ns
lgisfzg tyf laqmL k|jGwsnfO{ e'Qmfg ug]{5g\ . l;–cf:af k|0ffnL sfof{Gjog ePsf] ;Gbe{df lgisfzg a}+ssf]
cfjZostf gx'g] ePtf klg cfjZostf cg';f/ lgisfzg a}+s vf]Ng ;lsg]5 / ;f] sf] hfgsf/L g]kfn lwtf]kq
af]8{nfO{ clu|d ?kdf u/fO{g] 5 .
u=!)=u_ ;fj{hlgs lgisfzgaf6 k|fKt /sdnfO{ kl/of]hgfdf k|of]u ug{ k"j{ cGo s'g} Joj:yf ug{ nfluPsf] 5 eg] tT;DaGwL
ljj/0fM
;f] gePsf] .
u=!)=3_ lk|ldoddf lwtf]kq hf/L ug]{ ePdf lk|ldod d"No lgwf{/0f ubf{ ckgfO{Psf] ljlw / cf}lrTo M
;j{;fwf/0fnfO{ lgisfzg ul/g] z]o/sf] c+lst d"No ?=!))÷– df lk|ldod jfkt ?=@)÷– yk u/L k|lt z]o/ ?=!@)÷–
df lgisfzg ul/Psf] 5 . lk|ldod d"Nodf z]o/ lgisfzg ug{'sf] cf}lrTo / ;f]sf nflu sDkgLn] kfngf u/]sf] cj:yf
lgDgfg';f/ /x]sf 5g\ .
s_ ;+ul7t ;+:yf nuftf/ kl5Nnf] tLg jif{;Dd v'b d'gfkmfdf ;+rfngdf /xL z]o/wgLx?nfO{ af]g; z]o/sf] ?kdf
d'gfkmfsf] ljt/0f ul//x]sf] .
v_ ;+ul7t ;+:yfsf] k|lt z]o/ r'Qmf k"FhL eGbf k|lt z]o/ g]6jy{ a9L ePsf] .
u_ ;+ul7t ;+:yfsf] ldlt @)& ÷)%÷#) df ;DkGg jflif{s ;fwf/0f ;efn] lk|ldod d"Nodf lwtf]kq hf/L ug]{ lg0f{o
u/]sf] / ;f]xL adf]lhd ;+ul7t ;+:yfsf] lgodfjnLdf cfjZos ;+zf]wg ;d]t e} ;s]sf] .
3_ o; ljj/0fkq dfkm{t lk|ldoddf ;fj{hlgs lgisfzg dfkm{t ;j{;fwf/0fdf laqmL ul/g] ;fwf/0f z]o/sf] d"NofËg
;DjGwL sfo{ ug{sfnflu ;+ul7t ;+:yfeGbf aflx/sf lj1 P;=cf/=kf08] P08 sDkgL sf7df8+f}åf/f lwtf]kq lgisfzg
tyf afF8kmfF6 lgb]{lzsfdf tf]lsPsf] ljlwåf/f d"NofÍg u/L d"No lgwf{/0f ul/Psf] xf] . pQm lj1af6 lk|ldod d"No
lgwf{/0f ubf{ ckgfO{Psf ljlwx? b]xfo adf]lhd /x]s.lf] 5 .
!_ k|lt z]o/ v'b ;DklQsf] d"No ?= !!*=*$ x'g cfPsf] .
hDdf z]o/ lsQf #,@ !, $)
g]6jy{ -cfiff9 d;fGt, @)&&_ ?=#*&, !! -xhf/df_
;dfof]hg –
;dfof]lht g]6jy{ ?=#*&, !! -xhf/df_
k|lt z]o/ d"No ?=!!*=*$
@_ k"FhLs[t ePsf] cfDbfgL Capitalized Earning Method åf/f d"NofÍg ubf{ z]o/sf] d"No ?= (%÷@@ x'g
cfPsf] .
ljj/0f cf=j=@)&$÷&% cf=j=@)&%÷&^ cf=j=@)&^÷&&
s/kl5sf] d'gfkmf #$,!!& #%,^%! %*,#*(
z'?sf] OlSj6L @((,@## #@^,!^$ #@^,!^$
Return on Capital !!=$)Ü !)=(#Ü !&=()Ü Weighted Average Profit !#=$!Ü
WACC !@=^)Ü
k"FhLs[t ePsf] cfDbfgL Capitalized Earning Method åf/f d"NofÍg ubf{ z]o/sf] d"No
?=!)^=$#
#_ Discounted Cash Flow Method åf/f d"NofÍg ubf{ z]o/sf] d"No ?= !*@=$( x'g cfPsf] .
3=c=lwtf]kq lgisfzg tyf afF8kmfF6 lgb]{lzsf, @)&$ sf] lgod #^-!_ adf]lhd u0fgf u/L x'g
cfPsf] cf}ift d"No ?= !#%=(@
27
3=cf=lwtf]kq lgisfzg tyf afF8kmfF6 lgb]{lzsf, @)&$ sf] lgod #^-@_ adf]lhd g]6jy{sf] b'O{
u'0ff;Dd u0f0ff ubf{ ?= @#&=^* x'g cfPsf] .
sDkgLsf] kl5Nnf] n]vfk/LIf0f ePsf] ljQLo ljj/0f cg';f/sf] k|lt z]o/ g]6jy{sf] b'O{ u'0ffn]
x'g cfpg] d"No ?= @#&=^* ePsf] x'Fbf pk/f]Qm u0fgfsf cfwf/dWo] klxnf] cf}ift tl/sfaf6
k|fKt cf}ift lk|ldod d"No sd x'g cfPsf]n] k|lt z]o/ c+lst d"No ?=!))÷– df lk|ldod d"No
?= @) yk u/L k|lt z]o/ ?= !@)÷– df lk|ldoddf ;fj{hlgs lgisfzg ug{ ;lsg] l;kmfl/z
e} cfPsf]df o; sDkgLsf] ;+rfns ;ldltsf] ldlt @)&^÷)*÷)@ df a;]sf] j}7saf6 c+lst
d"No ?= !))÷– df lk|ldod d"No ?= @)÷– yk u/L k|lt z]o/ ?= !@)÷– df ;j{;fwf/0fx?nfO{
;fj{hlgs lgisfzg ug]{ u/L g]kfn lwtf]kq af]8{df :jLs[ltsf] nflu k]z ug]{ lg0f{o ePsf] . ª_ o; ? ? hnljB't kl/of]hgf lnld6]8nfO{ ICRA Nepal Limited n] ldlt @)&&÷)$÷!% df
;dodf g} ljQLo bfloTj k'/f ug{ ;Ifd /x]sf] dWod:t/sf] ;'/lIft sDkgL hgfpg] ICRANP-
IR BBB (Prounced as ICRA NP Issuer Rating Tripple B) k|bfg u/]sf] 5 .
u=!)=ª_ lwtf]kqsf] afF8kmfF8, lkmtf{ e'QmfgL tyf ;"rLs/0f ;DaGwL Joj:yf M
-s_ cToflws dfu jf Go"g dfu ePsf] cj:yfdf afF8kmfF8sf] k|ls|of M
cfof]hgf k|efljt If]q u'NdL lhNnfsf :yfgLox?M
cfof]hgf k|efljt If]q u'NdL lhNnfsf :yfgLox?sf] nflu 5'6\ofOPsf] hf/L k"FhLsf] !) k|ltztn] x'g cfpg] $,)&,&)% lsQf
z]o/sfnflu :yfgLo afl;Gbfx?af6 cTolws dfu eO{ cfPsf] cj:yfdf lwtf]kq lgisfzg tyf afF8kmfF8 lgb]{lzsfdf ePsf]
Joj:yf cg';f/ ;fwf/0f z]o/x? afF8kmFf8 ul/g]5 . sDkgLn] :yfgLo afl;Gbfx?nfO{ v/Lb ug{ cfJxfg u/]sf] lwtf]kq k"0f{
?kdf laqmL geO{ afFsL /x]df jf Go"g dfu ePdf lwtf]kq lgisfzg tyf afF8kmfF6 lgb]{lzsf, @)&$ sf] bkmf -$_ sf] pklgod
-#_ df ePsf] Joj:yf adf]lhd pQm afFsL /x]sf] z]o/x? ;j{;fwf/0fx?df lgisfzg ul/g] lwtf]kqdf yk u/L lgisfzg ul/g]]
5 .
;j{;fwf/0f z]o/wgLx? M
o; ljj/0fkq dfkm{t hf/L ul/Psf] ;fwf/0f z]o/ v/Lbsfnflu cfj]bgstf{x?af6 cTolws dfu eO{ cfPsf] cj:yfdf k|fKt
ePsf cfj]bgx?nfO{ lwtf]kq lgisfzg tyf afF8kmfF8 lgb]{lzsf, @)&$ lgb]{lzsfdf ePsf] Joj:yf cg';f/ ;fwf/0f z]o/x?
afF8kmFf8 ul/g]5 . To;}u/L lgisfzg ul/Psf] cjlw e/df ;d]t ;j{;fwf/0fx?af6 Go"g dfu eO{ cfPsf] cj:yfdf afFsL
/x]sf] z]o/ k|Tofe"ltstf{af6 k|Tofe"lt ;Demf}tfdf pNn]v ePsf] zt{ adf]lhd v/Lb x'g]5 .
-v_ cToflws dfu ePsf] jf afF8kmfF8 gePsf] cj:yfdf lkmtf{ e'QmfgL ;DjGwL Joj:yf M
lwtf]kq lgisfzg tyf afF8kmfF6 lgb]{lzsf, @)&$ df ePsf] Joj:yf cg';f/ z]o/ afF8kmfF8 u/] kZrft ef}lts cfj]bg
kmf/d dfkm{t cfj]bg u/]sfsf] xsdf afF8kmfF8df gk/]sf] /sd cfj]bgstf{n] cfj]bg kmf/ddf pNn]v u/]sf] a}+s vftfdf
;f]em} hDdf x'g] u/L IPS dfkm{t lkmtf{ e'QmfgL lbg] Joj:yf ldnfO{g] 5 . cf:af k|0ffnL dfkm{t cfj]bg lbPsf cfj]bgstf{x?
-:yfgLo tyf ;j{;fwf/0f_ sf] xsdf z]o/ afF8kmfF8 u/L k"0f{ jf cf+lzs ?kdf l:js[t / cl:js[t ePsf] Joxf]/f pNn]v u/L
lwtf]kq v/Lb -;fj{hlgs lgisfzg_ ;DaGwL lgb]{lzsf, @)&# sf] cg';"rL & adf]lhdsf] ljj/0f ;DalGwt cf:jf (ASBA)
;b:o a}+s tyf ljQLo ;+:yfx?nfO{ pknAw u/fO{g]5 / ;f]xL ljj/0fsf cfwf/df ;DalGwt cf:jf ;b:o a}+s tyf ljQLo
;+:yfx?n] afF8kmfF6df gk/]sf] z]o/ jfktsf] /sd ;DalGwt cfj]bsx?sf] /f]Ssf /x]sf] a}+s vftf km's'jf u/L lkmtf{
ul/lbg]5 .
-u_ lgj]bg ;fy k|fKt /sdsf] lkmtf{ e'QmfgLdf l9nfO{ ePdf lbOg] Jofhb/ M
cfof]hgf k|efljt If]qsf jfl;Gbfx?sf] xsdfM
ef}lts cfj]bg kmf/d dfkm{t cfj]bg u/]sfsf] xsdf lwtf]kq lgisfzg tyf afF8kmfF8 lgb]{lzsf, @)&$ sf] bkmf @( -#_ df
ePsf] Joj:yf cg';f/ pkbkmf -@_ adf]lhd e'QmfgL lkmtf{ ubf{ lwtf]kq laqmL aGb ePsf] ldltb]lv /sd lkmtf{ e'QmfgL lbg
z'? u/]sf] cl3Nnf] lbg;Dd ;/sf/L C0fkqsf] k|rlnt clGtd Jofhb/sf] cfwf/df x'g cfpg] Jofh ;lxt lx;fa u/L
/sd lkmtf{ e'QmfgL ul/g]5 . cf:jf dfkm{t cfj]bg lbPsfsf] xsdf of] Joj:yf nfu'x'g] 5}g .
;j{;fwf/0f z]o/wgLsf] xsdf M
o; lgisfzgdf lwtf]kq v/Lb -;fj{hlgs lgisfzg_ ;DaGwL lgb]{lzsf, @)&# -cf:af_ n] u/]sf] Joj:yf adf]lhd cfj]bg
dfu ug'{kg]{ ePsf]n] ;f] Joj:yf nfu" x'g] 5}g .
28
-3_ lwtf]kq afF8kmFf8 tyf k|df0fkq hf/L ;DjGwL k|s[of / ;dofjlw M
cfof]hgf k|efljt If]qsf jfl;Gbfx?sf] xsdfM
o; ljj/0fkq cg';f/ cfof]hgf k|efljt If]q u'NdL lhNnfsf :yfgLo afl;Gbfx?sf] nflu hf/L ul/g] $,)&,&)% lsQf ;fwf/0f
z]o/x? lwtf]kq lgisfzg tyf afF8kmfF8 lgb]{lzsf @)&$ tyf g]kfn lwtf]kq af]8{sf] k|rlnt Joj:yf cg';f/ lgwf{l/t
;doleq afF8kmfF8 u/L k"0f{ jf cf+lzs ?kdf :jLs[t÷c:jLs[t ePsf] Joxf]/f hgfO k|rlnt Joj:yf cg';f/ lgwf{l/t
cjlwleq afF8kmfF8af6 sfod ePsf z]o/wgLx?nfO{ k|df0fkq hf/L ul/g]5 . cfof]hgf k|efljt If]qsf :yfgLo afl;Gbfx?nfO{
hf/L ul/g] z]o/ k|df0fkq afF8kmfF6 ePsf] ldltn] # jif{;Dd laqmL ljt/0f ug{ gkfO{g] Joxf]/f pNn]v u/L ljt/0f ul/g]5 .
cfof]hgf k|efljt If]qsf :yfgLox?nfO{ hf/L ul/Psf] ;Dk"0f{ z]o/ v/Lbsfnflu cfj]bg kg{ gcfO{ afFsL /xg uPdf pQm
afFsL /x]sf] z]o/ ;j{;fwf/0fnfO{ lgisfzg ug{sfnflu 5'6\ofO{Psf] z]o/df yk u/L lgisfzg ul/g]5 .
;j{;fwf/0f z]o/wgLsf] xsdf M
o; ljj/0fkq dfkm{t ;j{;fwf/0fsf] nflu hf/L ul/g] $,)&,&) lsQf -cfof]hgf k|efljt If]qsf jfl;Gbfx?af6 v/Lb geO{
z]o/ afFsL /xg uPdf ;f] ;d]t_ ;fwf/0f z]o/x?sf] k|rlnt lwtf]kq lgisfzg tyf afF8kmfF8 lgb]{lzsf @)&$, ;DaGwL
Joj:yf cg';f/ ;fwf/0f z]o/sf] lgwf{l/t ;doleq afF8kmfF8 u/L g]kfn :6s PS;r]Gh lnld6]8df ;"lrs/0f tyf l;l8P;
P08 lSnol/Ë lnld6]8df btf{ eP kZrft cfj]bg kmf/fddf pNn]v ePsf] lxtu|fxL vftfdf afF8kmfF8df k/]sf] z]o/
ljt/0f÷hDdf ug]{ Joj:yf ldnfO{g]5 .
-ª_ lwtf]kq ;"rLs/0f eO{ ;s]sf] eP, To:tf] lwtf]kq ;"rLs/0f ul/Psf] lwtf]kq ahf/sf] gfd / lwtf]kqsf] sf/f]jf/ z'? x'gsf]
nflu ;+ul7t ;+:yfn] k"/f ug{ ‘kg]{ zt{x? ;DjGwL ljj/0f M
lgisfzg ug]{ ;fwf/0f z]o/ xfn ;"lrs/0f eO;s]sf] 5}g . ;j{;fwf/0fnfO{ z]o/ lgisfzg u/L afF8kmfF6 u/] kZrft Ps};fy
g]kfn :6s PS;]Gh lnld6]8df k|rlnt ;"lrs/0f ;DaGwL Joj:yf cg';f/ ;"lrs/0f tyf l;l8P; P08 lSnol/Ë lnld6]8df
lwtf]kq btf{ u/fO{ z]o/ v/Lb ljqmLsf] Joj:yf ldnfO{g]5 .
-r_ lwtf]kq ;"rLs/0f e}g;s]sf] eP, ;+ul7t ;+:yfn] lgisfzg tyf laqmL ul/g] lwtf]kq k|rlnt P]g lgod cg';f/ ;xh v/Lb,
laqmL jf ljlgdo x'g ;Sg] u/fpgsf nflu ul/g] Joj:yf ;DjGwL ljj/0f M
lgisfzg ul/g] ;fwf/0f z]o/ “ lwtf]kq lgisfzg tyf afF8kmfF8 lgb]{lzsf, @)&$” df ePsf] Joj:yf cg';f/ ;fwf/0f z]o/
-cfof]hgf k|efljt If]q u'NdL lhNnfsf :yfgLo afl;Gbf / ;j{;fwf/0fsf] afF8kmfF8 u/] kZrft g]kfn :6s PS;r]~h lnld6]8df
k|rlnt ;"rLs/0f ;DaGwL Joj:yf cg';f/ ;"lrs/0f tyf l;l8P; P08 lSnol/Ë lnld6]8df lwtf]kq btf{ u/fO{ z]o/ v/Lb
laqmLsf] Joj:yf ldnfO{g]5 .
u=!)= r_ k|Tofe"lt ;DaGwL ljj/0fM
-s_ lwtf]kq k|Tofe"lt ug]{ ;+ul7t ;+:yfsf] gfd, 7]ufgf / k|Tofe"lt ug]{ lwtf]kqsf] ;+Vof / /sd
o; ljj/0fkq dfkm{t ;j{;fwf/0fdf lgisfzg ug{ nfu]sf] ?= $,)&,&), ))÷– /sd a/fa/sf] ;Dk"0f{ $,)&,&)% lsQf
z]o/sf] k|Tofe"ltsfnflu tyf cfof]hgf k|efljt If]q u'NdL lhNnfsf :yfgLo afl;Gbfx?nfO{ 5'6\ofO{Psf] ?= $,)&,&),%))÷–
/sd a/fa/sf] $,)&,&)% lsQf z]o/dWo] cfj]bg kg{ gcfO{ jf laqmL geO{ z]o/ afFsL /x]df ;f] afFsL /x]sf] z]o/ ;d]t
k|Tofe't ug{sfnflu >L PgcfO{laPn P; Soflk6n lnld6]8, nflhDkf6, sf7df8f}+åf/f k|Tofe"ltsfnflu k|ltj4tf ;lxt
;Eemf}tf k|fKt ePsf] 5 .
-v_ lwtf]kq k|Tofe"ltstf{;Fu ul/Psf] ;Demf}tfsf] d'Vo d'Vo a"Fbfx?
k|Tofe"ltstf{;Fu ul/Psf] ;Demf}tfsf] d'Vo d'Vo a"Fbfx? b]xfo adf]lhd /x]sf] 5 M
!= o; sDkgLn] lk|ldoddf ;j{;fwf/0fdf lgisfzg ug{ nfu]sf] lk|ldod ;lxt hf/L d"No ?= !@)÷– c+lst b/sf $,)&,&)
lsQf z]o/n] x'g cfpg] s"n /sd ?= $,*(,@$,&@)÷– -cIf/]kL rf/ s/f]8 pgfgAa] nfv rf}la; xhf/ ;ft ;o aL;
dfq_ / cfof]hgf k|efljt :yfgLo afl;Gbfx?nfO{ hf/L ul/g] $,)&,&)% lsQf z]o/sf] k|lt z]o/ c+lst tyf hf/L d"No
?=!))÷– sf] ?= $,)&,&),%))÷– -cIf/]kL rf/ s/f]8 ;ft nfv ;Q/L xhf/ kfFr ;o dfq_ sf] ztk|ltztn] x'g cfpg]
s"n /sd ?= *,( ,(%,@@)÷– -cIf/]kL cf7 s/f]8 5ofgAa] nfv kGrfgAa] xhf/ b'O{ ;o aL; dfq_ a/fa/sf] ;fwf/0f
z]o/sf] nflu k|Tofe"lt ug{ k|Tofe"ltstf{ d~h'/ ub{5 .
@= k|yd kIfn] k|fylds lgisfzg dfkm{t ;j{;fwf/0fx?df lk|ldod ;lxt ?=!@)÷– c+lst b/df lgisfzg ul/g] $,)&,&)
lsQf z]o/n] x'g] s'n /sd ?=$,*(,@$,&@)÷– -cIf?kL rf/ s/f]8Þ pgfGgAa] nfv rf}la; xhf/ ;ft ;o aL; dfq /
:yfgLonfO{ hf/L ul/g] $,)&,&)% lsQf z]o/sf] c+lst tyf hf/L d"No ? !))÷– sf] ?=$,)&,&),%))÷– -cIf?kL rf/
s/f]8Þ nfv ;Q/L xhf/ kfFr ;o dfq u/L s"n *,!%,$%! lsQfn] x'g] hDdf ?= *,( ,(%,@@)÷– -cIf?kL cf7 s/f]8
5ofGgAo] nfv kGrfgAa] xhf/ b'O{ ;o aL; dfq_ a/fa/sf] ;fwf/0f z]o/sf] k|Tofe"lt u/] jfktsf] sldzg afkt !
29
k|ltztsf b/n] ? *( ,(%@÷@) - cIf?kL cf7 nfv 5ofGgAa] xhf/ gf} ;o afpGg ?k}of aL; k};f dfq_ cfjZos s/
s§L u/L k|Tofe"ltstf{nfO{ e'QmfgL ug{ d~h'/ ub{5 . pQm sldzg jfktsf] /sd of] ;Demf}tf ePsf] ldltn] & -;ft_
lbgleq e'QmfgL lbg k|yd kIf d~h'/ ub{5 . ;f] /sddf k|Tofe"ltstf{n] g]kfn lwtf]kq af]8{ nfO{ lbg'kg]{ % k|ltzt
sldzg /sd ;d]t ;+nUg x'g]5 . k|Tofe"lt ul/Psf] z]o/ k"0f{ jf cflzs ?kdf laqmL gePdf k|Tofe"ltstfn] laqmL x'g
afFsL z]o/ v/Lb ug{' kg]{ cj:yf ePdf v/Lb ug]{ z]o/sf] yk # k|ltztsf b/n] k|Tofe"lt sldzg k|yd kIfn]
k|Tofe'ltstf{nfO{ e'QmfgL ug]{5 . sy+sbflrt s'g} sf/0fa; ;j{;fwf/0fx?df z]o/ lgisfzg x'g g;Sg] cj:yf ;[hgf
ePdf k|Tofe"lt sldzg afktsf] /sdsf] %) k|ltzt /sddf cfjZos s/ s§L u/L k|yd kIfnfO{ låtLo kIfn] lkmtf{
e'QmfgL ug]{5 .
#= k|Tofe"lt ul/Psf] z]o/ k"0f{ jf cf+lzs ?kdf ljqmL gePdf :yflgo tyf ;j{;fwf/0fx?nfO{ z]o/ afF8kmfF8 u/]sf] ldltn]
al9df #% -k}lt;_ lbg jf cfk;L ;xdlt u/] cg';f/sf] cjlwleq laqmL x'g afFsL z]o/ ;dfg'kflts lx;fjn] -g]kfn
lwtf]kq af]8{n] k|fylds lgisfzgsf] nflu :jLs[t u/]sf] c+lst d'Nosf b/n] k|Tofe'ltstf{n] v/Lb ug]{5 . ;fy} k|yd
kIfn] z]o/ jfktsf] /sd k|fKt u/] kZrft\ pQm z]o/sf] :jfldTj oyflz3| k|Tofe"ltstf{nfO{ x:tfGt/0f ug{' kg]{5 .
$= k|yd kIfsf] z]o/ :yflgo tyf ;j{;fwf/0fdf las|L ubf{ ;Dk"0f{ z]o/sfnflu cfj]bg k|fKt ePdf k|Tofe"lt bfloTj :jtM
;dfKt x'g]5 .
%=o; ;Demf}tfsf] ;dofjlw ldlt @)&*÷)!÷)! ;Dd nfu" x'g]5 .
= k|Tofe"lt u/]sf] z]o/ dfly a'+bf g+ # cg';f/ u|x0f ug{' k/]df pQm z]o/x? u|x0f u/]kl5 ;j{;fwf/0f z]o/wgL ;/x
k|Tofe"ltstf{nfO{ ;d]t z]o/ k|ltsf] xs clwsf/ k|fKt x'g]5 .
&= o; ;Demf}tfsf] JofVofdf jf sfof{Gjogdf dt leGgtf ePdf jf ljjfb pTkGg ePdf b'a} kIfsf] ;xsfo{df ljjfb lg/f]k0f
ul/g]5 . ;f] af6 ljjfb lg/f]k0f gePdf b'a} kIfn] Ps–Ps hgf dWo:ytf lgo'Qm ug]{ . o;/L lgo'Qm dWo:ystf{sf] cfk;L
;xdltdf d'Vo dWo:ystf{ -Principal Arbitrator_ sf] lgo'QmL u/Lg]5 / dWo:ystf{4f/f ul/Psf] lg0f{o b'a} kIfnfO{ dfGo
x'g]5 . dWo:ytf ;DaGwL nfUg] vr{ ;a} kIfn] ;dfg'kflts ?kdf a/fa/ Joxf]g{] 5g\ . dWo:ysf] sfof{no sf7df8f}df
/xg]5 . dWo:ystf{n] ckgfpg] sfo{ljlw dWo:ytf P]g, @)%% adf]lhd x'g]5 .
*=o; ;Demf}tfsf b'a} kIfx?sf] d~h'/Laf6 ;Demf}tfdf ePsf zt{ aGb]hx? km]/abn ug{ ;lsg]5 . o:tf] km]/abnnfO{
;Demf}tf s} cleGg c+u dflgG5 . o; ;Demf}tfsf] sfof{Gjog d'n'sL b]jfgL -;+lxtf_ P]g, @)&$ adf]lhd x'g]5 .
u=!)=5_ cfj]bg lb+bf Wofg lbg'kg]{ s'/fx?
-s_ lwtf]kqjfnfsf] clwsf/ tyf k|ltaGwfTds Joj:yfx? Hf:t} dtflwsf/, nfef+z, xsk|b z]o/, lwtf]kqjfnfsf] clwsf/df
kl/jt{g ug]{ k|s[of tyf lwtf]kqsf] vf/]hL cflb ;DjGwL ljj/0f
lwtf]kqjfnfsf] clwsf/ tyf k|ltaGwfTds Joj:yfx? Hf:t} dtflwsf/, nfef+z, xsk|b z]o/, lwtf]kqjfnfsf] clwsf/df
kl/jt{g ug]{ k|s[of tyf lwtf]kqsf] vf/]hL cflb ;DjGwL Joj:yf k|rlnt sfg"g adf]lhd x'g]5÷ul/g]5 . ;fy}, nfef+z,
xsk|b z]o/ cflb ;DaGwL ljj/0f sDkgLn] lgoldt ?kdf cfh{g ug]{ d'gfkmf, tyf sDkgLsf] k"FhL of]hgf cg';f/ k|rlnt
sfg'g adf]lhd ul/g]5 .
-v_ lgodfjnL, k|jGwkq k|fKt ug]{ jf x]g{ ;lsg] 7fpF, e'QmfgL ug]{ tl/sf, lng'kg]{ Go"gtd lwtf]kq ;+Vof / ;f] eGbf dfly lng]
ePdf s'g u'0ff‹df lng ;lsg] xf] ;f] ;DaGwL ljj/0f
!= sDkgLsf] k|jGwkq tyf lgodfjnL sDkgLsf]] /lhi6{8{ -s]Gb|Lo_ sfof{no sf7df8f}+ lhNnf, xflQ;f/ / o;
lgisfzg sfo{sf nflu lgo'Qm lwtf]kq lgisfzg tyf laqmL k|jGws >L PgPdla Soflk6n lnld6]8, gfukf]v/L,
sf7df8f}++}+df sfof{no ;doleq ;Dks{ /fvL k|fKt ug{ ;lsg] 5 .
@= cfof]hgf k|efljt If]q u'NdL lhNnfsf :yfgLo afl;Gbf tyf ;j{;fwf/0f cfj]bsn] sDtLdf !) -bz_ lsQf z]o/
v/Lbsf nflu cfj]bg lbg'kg]{5 . !) -bz_ lsQfeGbf a9L z]o/sf nflu cfj]bg lb+bf !) -bz_ cÍsf] u'0fg
;+Vofdf clwstd $ nfv lsQf z]o/sf nflu cfj]bg lbg ;Sg]5g\ . cfof]hgf k|efljt If]qsf :yfgLo
afl;Gbfn] ;fwf/0f z]o/sf nflu cfj]bg lb+bf cfkm'n] v/Lb ug{ rfx]sf] k|lt ;fwf/0f z]o/ jfkt ?= !))÷–
-Ps ;o_ sf b/n] x'g cfpg] Psd'i7 /sd b/vf:t;fy a' fpg' kg]{5 . ?= %),)))÷– eGbf a9L /sdsf
nflu cfj]bg lb+bf Psfp06 k]oL r]s dfkm{t dfq cfj]bg /sd lbg'kg]{5 .
-u_ cfj]bg lb+bf kfngf ug{'kg]{ zt{ aGb]hx? h:t} Ps eGbf a9L b/vf:t lbg gkfOg], nufgLstf{sf] klxrfgsf] nflu
gful/stf÷hGdbtf{sf] k|dfl0ft k|df0fkqsf] k|ltlnlk k]z ug{ ‘kg]{ jf lwtf]kq bnfn Joj;foLn] lbPsf] u|fxs kl/ro kq /
;DjlGwt Joj;foLsf] gfd v'nfpg'kg]{ / a}+s vftf dfkm{t sf/f]jf/ ul/g'kg]{ h:Tff kIfx?
cfof]hgf k|efljt If]qsf jfl;Gbfx?sf] xsdfM
cfof]hgf k|efljt If]q u'NdL lhNnfsf :yfgLo afl;Gbfx?n] o; ljj/0fkq dfkm{t lgisfzg ul/g] ;fwf/0f z]o/ lgDg adf]lhd
k|s[of k'/f ePsf] cj:yfdf v/Lb ug{ cfj]bg lbg ;Sg]5g\ .
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!= tf]lsPsf ;+sng s]Gb| dfkm{t cfj]bg lbg rfxg] cfj]bsn] b/vf:t kmf/ddf tf]lsP adf]lhd ;Dk"0f{ ljj/0f
e/L clgjfo{ ?kdf xfn;fn} lvr]sf] kf;kf]6{ ;fO{hsf] kmf]6f], u'NdL lhNnfaf6 hf/L gful/stf k|df0fkqsf]
k|ltlnlk ;lxt -:jo+ k|dfl0ft u/L_ b/vf:t kmf/d a'emfpg' kg]{5 .
@= lxtu|fxL vftf vf]ln;s]sf :yfgLo afl;Gbfx?n] g]kfn lwtf]kq af]8{af6 l;–cf:af (C-ASBA) ;b:otf k|fKt
u/]sf a}+s tyf ljQLo ;+:yfx?af6 dfkm{t klg cfj]bg kmf/d k|fKt ug{ tyf a'emfpg ;lsg]5 . o;/L cfj]bg
kmf/d a'emfpFbf cfj]bsn] u'NdL lhNnfaf6 hf/L gful/stf k|df0fkqsf] k|ltlnlk ;d]t clgjfo{ ?kdf a'emfpg'
kg]{5 / ;DalGwt a}+s tyf ljQLo ;+:yfn] ;d]t ;f] gfufl/stfsf] k|df0fkq u'NdL lhNnfaf6 hf/L eP gePsf]
?h' u/]/ dfq cfj]bg kmf/d :jLsf/ ug'{kg]{5 .
#= ! aif{ eGbf sd pd]/sf :yfgLon] cfdf÷afa'n] ;+/Ifs eO{ cfj]bg lbg' k/]df g]kfn ;/sf/sf]
kl~hsfflwsf/Lsf] sfof{noaf6 k|fKt gfafnssf] hGdbtf{ k|df0f–kqsf] k|ltlnkL ;+/Ifsåf/f clgjfo{ ?kdf
k|dfl0ft u/L cfj]bg;fy k]z ug'{kg]{5 . ;fy} b/vf:t kmf/ddf ;+/Ifssf] gful/stf k|df0fkqsf] k|ltlnkL ;d]t
;+/Ifs :jo+n] k|dfl0ft u/L ;+nUg ug'{ kg]{5 . cfdf afa' afx]s cGo JolQm ;+/Ifs e} gfjfns jf ljlIfKt
JolQmsf] gfddf b/vf:t lb+bf sfg"g adf]lhd ;+/IfsTj u|x0f u/]sf] k|df0fkq k]z ug{'kg]{5 .
$= g]kfn lwtf]kq af]8{af6 o; ljj/0fkqsf] l:js[tL k|fKt ePsf] ldlt @)&&÷!)÷@! leqdf u'NdL lhNnfdf :yfoL
?kdf a;fO{ ;/fO{ u/L jf ljjfx u/L cfPsf tyf ;f] ldlt;Dddf u'NdL lhNnfdf a;fO{ u/]sf :yfgLox?n] o;
lgisfzgdf cfj]bg ug{ ;Sg]5g\ . o;}nfO{ cfwf/ dfgL ;f] ldlt k"j{ cGo lhNnfaf6 ljjfx e} cfPsf dlxnf
tyf a;fO{ ;/fO{ u/L cfPsf JolQmx?sf] xsdf ldlt v'n]sf] ljjfxbtf{ k|df0fkqsf] k|ltlnkL jf a;fO{ ;/fO{
u/L cfPsf] k|df0fkqsf] k|ltlnlk ;d]t ;+nUg u/]sf] x'g' kg]{5 .
%= g]kfn lwtf]kq af]8{af6 o; ljj/0fkq l:js[tL k|fKt ePsf] ldlt @)&&÷!)÷@! leqdf cGo lhNnfaf6 ljjfx
u/L cfPsf jf a;fO ;/fO{ u/L u'NdL lhNnfdf cfPsf JolQmx?n] o; lgisfzgdf l; cf:jf dfkm{t z]o/
v/Lbsfnflu cfj]bg lb+bf lghx? u'NdL lhNnfsf] :yfgLo eGg] k'i6L gx'g] eO{ lghx?sf] cfj]bg c:jLs[t x'g]
x'Fbf lghx?n] tf]lsPsf] ;+sng s]Gb| dfkm{t dfq a;fO{ ;/fO{ jf ljjfx btf{sf] k|df0fkqsf] k|ltlnlk clgjfo{
?kdf ;+nUg u/L ef}lts ?kdf g} cfj]bg ug'{kg]{5 .
= dfly pNn]lvt :yfgLo afl;Gbfsf ;DaGwdf jf z]o/ v/Lb k|lqmofdf s'g} ljjfb cfPdf ;DalGwt ufpFkflnsfsf]
;j{bnLo ;+oGqsf] lg0f{o jf lhNnf ljsf; ;ldltsf] ;j{blno ;+oGqsf] lg0f{o ;lxtsf] l;kmfl/; kq adf]lhd
x'g]5 .
&= g]kfn lwtf]kq af]8{af6 o; ljj/0fkq l:js[tL k|fKt ePsf] ldlt @)&&÷!)÷@! eGbf cufj} ! aif{ pd]/ k'uL
gful/stf lnPsf] t/ ljjfx u/L cGo lhNnfdf uPsf dlxnf Pj+ lhNnf 5f]8L a;fO{ ;/fO{ u/L uPsf JolQm /
kl/jf/x?df pNn]lvt ;'/lIft z]o/ lng] clwsf/ /xg] 5}g .
*= cfj]bg kmf/d a'emfpFbf b/vf:t kmf/ddf Go"gtd ?kdf v'Ng'kg]{ egL tf]lsPsf ljj/0fx? ;a} :ki6 ?kdf
e/]sf] b/vf:t kmf/d a'emfpg' kg]{5 .
(= Ps JolQmn] cfkm'n] lng rfx]sf] ;Dk"0f{ z]o/sf] nflu Psj6f dfq cfj]bg u/]sf] x'g' kg]{5 . olb Ps} JolQmn]
Ps eGbf a9L cfj]bg lbPsf] e]l6Pdf lghn] lbPsf] ;a} cfj]bgx?nfO{ /2 ul/g]5 .
!)= ;fwf/0f z]o/ v/Lb ug{sf nflu b/vf:t lbg] JolQm :jo+n] b/vf:t kmf/ddf b:tvt u/L tf]lsPsf] ;+sng
s]Gb|x?df ;fwf/0f z]o/ v/Lbsf nflu b/vf:t a'emfpg' kg]{5 . o;/L b/vf:t kmf/ddf b:tvt gu/]sf] /
tf]lsPsf ;+sng s]Gb|x? afx]s cGo :yfgx¿df b/vf:t kmf/d a'emfPsf] b/vf:t kmf/dnfO{ /2 ul/g]5 .
!!= cfof]hgf k|efljt If]qsf afl;Gbfx?sfnlfu lgisfzg ul/g] z]o/df afF8kmfF8df k/]sf :yfgLox?n] ;j{;fwf/0fsf
nflu ;fj{hlgs lgisfzg ul/g] ;fwf/0f z]o/sf] nflu k'gM cfj]bg lbg kfpg] 5}gg\ .
!@= ;Dk"0f{ b/vf:tjfnfx? -gfjfnsx? ;d]t_ n] clgjfo{ ?kdf cfkm\gf] vftf /x]sf] a}+s jf ljQLo ;+:yfsf] gfd,
7]ufgf / vftf gDa/ ;d]t :ki6 ?kdf b/vf:t kmf/ddf v'nfpg' kg]{5 . b/vf:tjfnfn] b/vf:t kmf/ddf
cfkm\gf] vftf gDa/ pNn]v ubf{ Clearing House sf] ;b:o ePsf] a}+s jf ljQLo ;+:yfdf ePsf] vftf gDa/
pNn]v ug'{ kg]{5 .
!#= ?= %),)))÷– eGbf a9L /sdsf] nufgL ug]{ b/vf:tjfnfn] b/vf:t lb+bf clgjfo{ ?kdf PsfpG6k]oL r]s
dfkm{t /sd hDdf ug'{ kg]{5 .
!$= ?= %,)),)))÷– ;Ddsf nlfu cfj]bg lbg] cfj]bsn] :j]lR5s ?kdf / ;f] eGbf a9L /sdsf] nflu cfj]bg lbg]
cfj]bsn] clgjfo{ ?kdf cfj]bgdf cfkm\gf] :yfoL n]vf gDa/ (PAN) k]z ug'{kg]{5 . ?= %)),)))÷– eGbf
a9L /sdsf] cfj]bg lbg] cfj]bsx?n] cfkm'n] cfj]bg lbFbf hDdf u/]sf] /sd ;DklQ z'4Ls/0f P]]gsf] alv{nfk
x'g] u/L cfh{g gu/]sf] egL pb\3f]if0f ug'{kg]]]]]{5 .
31
;j{;fwf/0f z]o/wgLsf] xsdf M
!= cfof]hgf k|efljt If]q u'NdL lhNnfsf afl;Gbfsfnflu 5'6\ofO{Psf] z]o/df cfj]bg lbPsf afl;Gbf afx]ssf s'g} klg
g]kfnL gful/sn] o; ljj/0fkq cg';f/ hf/L ul/g] z]o/ v/Lb ug{ cfj]bg lbg ;Sg]5g\ .
@= cfj]bsn] l;–cf:jf k|0ffnLaf6 cf gf] vftf /x]sf] a}+s tyf ljlQo ;+:yfdfkm{t dfq cfj]bg lbg'kg]{5 .
#= cfj]bsn] cfj]bg lbg'k"j{ cf gf] vftf /x]sf] ;DalGwt a}+s tyf ljlQo ;+:yfdf uO{ lwtf]kqsf] ;fj{hlgs
lgisfzgsf] s]lGb|s[t ljB'lto ;]jf sfo{ ;+rfng lgb]{lzsf, @)&$ sf] cg';"rL $ adf]lhdsf] l;–cf:af /lhi6«]zg
kmf/d e/L CRN gDa/ lng'kg]{5 .
$= cfj]bssf] a}+s vftfdf ePsf] ljj/0f / cg';"rL $ df pNn]v u/]sf] ljj/0f ldNg'kg]{5 .
%= cfj]bsn] CRN gDa/ k|fKt u/] kZrft z]o/ v/Lbsf nflu tf]lsPsf] 9fFrfdf ;DalGwt a}+s tyf ljlQo ;+:yfdf
lwtf]kq v/Lbsf nflu cfj]bg lbg'kg]{5 .
= cfj]bsn] cfj]bg kmf/fddf pNn]v u/]sf] lxtu|fxL vftf gDa/ / cGo ljj/0f l;–cf:af ; 6j]o/df /x]sf] cfj]bssf]
lxtu|fxL vftf / cGo ljj/0f;Fu ?h' x'g'kg]{5 .
&= l; cf:jf dfkm{t cfj]bg lbg] cfj]bsn] ;DalGwt a}+s tyf ljQLo ;+:yfn] pknAw u/fPsf] cg';"rL $ sf] ;Dk"0f{
ljj/0fx? :ki6 ?kdf v'nfpg' kg]{5 .
s= lwtf]kq lgisfzgstf{ sDkgLsf] gfd .
v= cfj]bssf] gfd, y/, 7]ufgf, gful/stf g+=, b:tvt, ;Dks{ kmf]g g+=, Od]n 7]ufgf .
u= gfjfns / ljlIfKt JolQmsf] xsdf ;+/Ifssf] gfd, y/ / gftf .
3= vl/b ug{ rfx]sf] lwtf]kqsf] ;+Vof -c+s / cIf/df_ .
ª= vl/b ug{ rfx]sf] lwtf]kq jfktsf] /sd -c+s / cIf/df_ .
r= cfj]bssf] vftf /x]sf] a}+ssf] gfd, 7]ufgf, vftf g+= / vftfsf] lsl;d .
5= cfj]bssf] lxtu|fxL -l8Dof6_ vftf gDa/ .
*= cfj]bsx?n] cfj]bg lb+bf cf:jf ;b:o a}+sx?df /x]sf] cfj]bg jfktsf] /sd /f]Ssf /flvg] vftf cGo s'g} k|sf/n]
/f]Ssf /x]sf] jf lgliqmo (Dormant) /x]sf] x'g'x'Fb}g .
(= cfj]bg lbPsf] /sd a/fa/sf] /sd vftfdf x'g' kg]{5 .
!)= ;j{;fwf/0fsf] xsdf l;l8P; P08 lSnol/Ë lnld6]8af6 pknAw u/fOPsf] æd]/f] z]o/Æ ;km\6j]o/af6 klg cfj]bsn]
cfj]bg ug{ ;Sg]5g\ . To;sf nflu cfj]bsn] cf gf] lxtu|fxL vftfdf a}+s vftfdf a}+s vftfsf] ljj/0f pNn]v
ul/;s]sf] x'g'kg]{5 / ;DalGwt a}+s vftfsf] ljj/0f pNn]v ul/;s]sf] x'g'kg]{5 / ;DalGwt a}+s tyf ljQLo
;+:yfaf6 CRN gDa/ lnO{;s]sf] x'g'kg]{5 .
!!= Ps JolQmn] cfkm"n] vl/b ug{ rfx]sf] ;fwf/0f z]o/sf] nflu Ps eGbf a9L b/vf:t lbg] kfOg] 5}g . olb Ps
JolQmsf] gfddf Ps eGbf a9L cfj]bg k|fKt x'g cfPdf ;Dk"0f{ b/vf:tnfO{ /2 ul/g]5 .
!@= lwtf]kq v/Lbsf] nflu b/vf:t lb+bfsf] cj:yfdf jf b/vf:t lbO{;s]kl5 v/Lb u/]sf] lwtf]kq jfktsf] /sd e'QmfgL
gx'Fb} k|rlnt sfg'g adf]lhd clwsf/ k|fKt clwsf/L jf lgsfoaf6 nufgLstf{sf] vftf /f]Ssf /fVg] cfb]z k|fKt
ePdf lgisfzg tyf ljqmL k|aGwsn] To:tf] b/vf:t kmf/fdnfO{ /2 ul/g] x'Fbf ;f] s'/fsf] hfgsf/L cfj]bs :jo+n]
a'‰g' kg]{5 .
!#= lwtf]kq afF8kmfF6 ug'{k"j{ clVtof/ k|fKt lgsfoaf6 s'g} nufgLstf{sf] vftf /f]Ssf /fVg cfb]z jf lgb]{zg k|fKt
ePdf ;DalGwt a}+s jf ljQLo ;+:yfn] To:tf] cfb]z jf lgb]{zg cg';f/ ;DalGwt nufgLstf{sf] vftf /f]Ssf u/L
To;sf] hfgsf/L t'?Gt lgisfzg tyf ljqmL k|aGwsnfO{ lbg'kg]{5 .
!$= z]o/sf] afF8kmfF8 u/L ;"lrs/0f eP kZrft afF8kmfF8df k/]sf cfj]bsx?nfO{ afF8kmfF8df k/]sf] z]o/ lghx?sf]
lxtu|fxL vftfdf hDdf ug{] Joj:yf ul/g]5 .
!%= l/tk"j{s k|fKt gePsf] b/vf:t tyf cfj]bg kmf/fddf pNn]v ePsf] lxtu|fxL vftf g+= / cfj]bssf] gfd
l;l8P;;Lsf] clen]vdf km/s k/]sf] kfO{Pdf ;f] kmf/fdnfO{ z]o/ afF8kmfF6df ;dfj]z gul/g] x'+bf cfj]bg kmf/fddf
e/]sf] lxtu|fxL vftf g+= cfj]bs :jo+n] Plsg ug'{kg]{5 .
! = ?= %,)),)))÷– eGbf a9L /sdsf] nflu cfj]bg lbg] cfj]bsn] clgjfo{ ?kdf cfj]bgdf cf gf] :yfoL n]vf gDa/
(PAN ) k]z ug'{kg]{5 . ?= %)),)))÷– eGbf a9L /sd cfj]bg lbg] cfj]bsx?n] cfkm"n] cfj]bg lbFbf hDdf u/]sf]
/sd ;DklQ z'4Ls/0f P]]gsf] alv{nfk x'g] u/L cfh{g gu/]sf] egL pb\3f]if0f ug'{kg]]]]]{5 .
32
u=!! ;DalGwt kIf aLrsf] sf/f]af/ ;DaGwL ljj/0fM
lgisfzgstf{ ;+ul7t ;+:yf / lgDg lnlvt kIf aLr ljut @ aif{sf] cjlwdf s'g} k|sf/sf] j:t'ut sf/f]jf/ ePsf] jf
s'g} sf/f]jf/ ug{ k|:tfj ul/Psf] eP sf/f]jf/df ;+nUg AolQmx?sf] gfd, ltgLx?sf] ;+ul7t ;+:yf;Fusf] ;DaGw, sf/f]af/sf]
k|s[lt / /sd M
-s_ ;+ul7t ;+:yfsf] sfo{sf/L clws[t jf ;~rfnssf] ?kdf /x]sf] JolQmM
;f] gePsf] .
-v_ cfwf/e"t z]o/wgLM ;f] gePsf] .
-u_ v08 -s_ / -v_ df pNn]lvt s'g} JolQmsf] Psf3/ kl/jf/sf] ;b:o M ;f] gePsf] .
-3_ ;+ul7t ;+:yfsf] sfo{sf/L clws[t jf ;~rfns jf cfwf/e"t z]o/wgLn] #) k|ltzt jf ;f] eGbf a9L dtflwsf/ x'g]
u/L z]o/ :jfldTj u|x0f u/]sf] sDkgL jf ;+ul7t ;+:yf M
;f] gePsf] .
-ª_ ;+ul7t ;+:yfsf] jf o;sf] ;xfos sDkgLn] xfnsf] ;~rfns jf lghsf] Psf3/ kl/jf/sf] ;b:osf nflu s'g} sf/f]af/
jf ;Demf}tf u/]sf] 5 eg] ;f] jf ljj/0fkq k|sfzg ug'{ eGbf # jif{ cufl8sf] cjlwdf ljQLo ;+:yfsf]] ;~rfns jf
;~rfnssf] Psf3/ kl/jf/sf] ;b:osf nflu s'g} sf/f]af/ jf ;Demf}tf u/]sf] eP ;f] s'/f M
;f] gePsf] .
-r_ s'g} ;~rfns jf ;~rfnssf] Psf3/ kl/jf/sf] ;b:onfO{ s'g} C0f lbPsf] jf lgh;Fu lnPsf] eP pQm C0f ;DaGwL
lj:t[t ljj/0f h:t} C0f afkt lnPsf] /sd, C0fsf] Jofhb/, C0f lnPsf] ldlt, C0f e'QmfgL cjlw cflbsf] ljj/0fM
;f] gePsf] .
u=!@= =ljb]zL nufgL / Joj:yfkg ;DaGwL ljj/0f
ljb]zL nufgL / Joj:yfkgdf ;+ul7t ;+:yf ;+rfng x'g] eP ;f] sf] ljj/0fsf ;fy} ;DalGwt ;Demf}tfsf] d'Vo tyf
tflTjs a'Fbfx?M ;f] gePsf] .
u=!#= ;"rLs[t ;+ul7t ;+:yfn] ;fj{hlgs lgisfzg ug]{ ePdf ;f] ;DaGwL ljj/0f M
-s_ ;+ul7t ;+:yfsf] ljut # cfly{s jif{sf] q}dfl;s cjlwsf] pRrtd, Go"gtd, clGtd ahf/ d"Nosf ;fy} sf/f]af/ ePsf]
z]o/ ;+Vof
;f] gePsf] .
-v_ af]8{df ljj/0fkq btf{sf] nflu k|:t't ug'{eGbf dlxgf cufl8sf] cjlwsf] dfl;s ?kdf pRr, Go"g / clGtd d"Nosf
;fy} k|To]s dlxgfdf sf/f]af/ ePsf] s'n lbg / s'n sf/f]af/ ePsf] lwtf]kqsf] ;+Vof
;f] gePsf] .
u=!$= kl5Nnf] ;fj{hlgs lgisfzgsf] cg'dfg tyf pknAwL ;DaGwL ljj/0f
;+ul7t ;+:yfn] o; eGbf cuf8L lwtf]kq lgisfzg ubf{ tof/ u/]sf] ljj/0fkq jf cGo ljj/0fx?df pNn]lvt ul/Psf
nIo tyf sfo{qmdx? tyf v'b d'gfkmf xfl;n ug{ ;s]÷g;s]sf], g;s]sf] cj:yfdf nIo tyf sfo{qmdsf ;fy} ljj/0fkq
jf cGo ljj/0fx?df k|If]lkt v'b d'gfkmf eGbf aL; k|ltzt jf ;f] eGbf a9Ln] Go"g x'g uPsf] eP o;/L km/s kgf{sf]
sf/0f M
;f] gePsf] .
u=!%= k/fdz{bftf÷ljz]if1 ;DaGwL ljj/0fM s_ n]vfk/LIfs÷k|d'v a}+s, lgisfzg sfo{ ;Fu ;+nUg a}+s, k|If]lkt ljQLo ljj/0f 7Ls 5 egL k|dfl0ft ug]{ lj1 cflbsf] gfd
tyf 7]ufgf
• n]vfk/LIfs M
sDkgLsf] cf=j=@)& ÷&& sf] cfDbfgL vr{ lx;fa tyf jf;nftsf] n]vfk/LIf0f lk=Pn=>]i7 P08 sDkgLsf rf6{8{
Psfp06]06 >L /fh]z kf}8]nn] ug'{ePsf] 5 .
• lgisfzg a}+s (Bankers to the Issue)M
o; ljj/0fkq dfkm{t lgisflzt ;fwf/0f z]o/x?sf] nflu lgisfzg a}+s (Banker to the Issue) sf] ?kdf PgPdla a}+s
lnld6]8, aa/dxnnfO{ tf]lsPsf] 5 . ;fy} cfjZostf cg';f/ tLgsfo{ lbg cufl8 g]kfn lwtf]kq af]8{nfO{ hfgsf/L
u/fO{ cGo jfl0fHo a}+sx? tyf /fli6«o :t/sf] ljsf; a}+sx?nfO{ ;d]t lgisfzg a}+s tf]Sg ;lsg] 5 .
• ljQLo k|If]k0fsf] ljj/0f tof/ kfg]{ lj1M
33
o; ljj/0fkqdf pNn]v ul/Psf] ljQLo ljj/0f tof/ kfg]{ lj1df lgisfzg sDkgL ? ? hnljB't kl/of]hgf lnld6]8
cfkm} /x]sf] 5 .
• ljQLo k|If]k0fsf] cg'dfg tyf cfwf/x? k'g/fjnf]sg u/L ljj/0f 7Ls 5 egL k|dfl0ft ug]{ lj1M
o; ljj/0fkqdf pNn]v ul/P adf]lhd tof/ ul/Psf] ljQLo ljj/0f tyf k|If]k0fsf] cg'dfg tyf cfwf/x? k'g/fjnf]sg
u/L ;f] cfwf/df tof/ ul/Psf ljQLo k|If]k0fsf ljj/0f oyfy{k/s /x]sf] egL k|dfl0ft ug]{ ljz]if1df P; cf/ kf08] P08
sDkgLsf rf6{8{ PsfpG6]06 >L ;'b{zg /fh kf08] /xg' ePsf] 5 .
-v_ dfly v08 -s_df pNn]lvt ;+:yf jf JolQm;Fu ePsf] ;xdltsf d'Vo d'Vo a"bf tyf zt{x?M
• n]vfk/LIfs M
;f] gePsf] .
• lgisfzg a}+s (Bankers to the Issue) M
cfof]hgf k|efljt If]qsf afl;Gbfsf nflu
lgisflzt ;fwf/0f z]o/x?df nufgLstf{x?af6 k|fKt nufgL /sd lgisfzg a}+s (Bankers to the Issue) df vf]lnPsf]
z]o/ b/vf:t vftfdf hDdf u/L ;f] sf] ;+o'Qm ;'/If0f lgisfzg a}+s tyf lwtf]kq lgisfzg tyf laqmL k|jGwssf] lhDdfdf
/flvg]5 . ;f] sf nflu lgisfzg a}+s;+u Jofhb/ tyf cg'dflgt /sd /xg] cjlwsf] af/]df hfgsf/L u/fO{ cfjZos
;xdltkq lnO{g]5 .
u=! = cfof]hgf ;DkGg ug{sf] nflu ;fj{hlgs lgisfzg afx]s cGo ljQLo >f]tx? k|of]u ul/Psf] 5÷5}g, tT;DaGwL ljj/0fM
? ? hnljB't kl/of]hgf lnld6]8sfnflu ;+:yfks z]o/wgLx?sf] :jM nufgL tyf ln8 a}+ssf] ?kdf PgPdla a}+s
lnld6]8 -;fljssf] lSng OghL{ 8]enkd]G6 a}+s lnld6]8_ / ;xefuL a}+sx?df s'df/L a}+s lnld6]8, n'lDagL ljsf; a}+s
lnld6]8 -;fljs lejf]/ ljsf; a}+s lnld6]8_ df5fk'R5|] a}+s lnld6]8 / ;]G~r'/L sdl;{on a}+s lnld6]8af6 ;xljQLos/0f
C0f Joj:yfkg ;Demf}tf ul/Psf] 5 . pQm shf{sf] s'n :jLs[t ;Ldf ?= $* s/f]8 @$ nfv ePsf]df @)&& cflZjg
d;fGtdf afFsL shf{ ?= @& s/f]8 * nfv %) xhf/ /x]sf]]] 5 .
qm=;+= ljj/0f s}lkmot
1 shf{ e'QmfgL cjlw !) jif{
2 shf{ e'QmfgL tl/sf q}dfl;s ?kdf
3 xfn sfod /x]sf] Aofhb/ (=)) Ü
4 z'?sf] ls:tf /sd e'QmfgL x'g] jif{ c;f]h d;fGt @)&@÷&#
5 clGtd ls:tf /sd e'QmfgL x'g] jif{ cfiff9 d;fGt @)*!÷*@
qm=;+= ljj/0f /sd -?_
1 PgPdla a}+s ln=-;fljssf] lSng OghL{ 8]enkd]G6 a}+s lnld6]8_ 175,400,640.00 2 s'df/L a}+s lnld6]8 87,700,320.00 3 df5fk'R5|] a}+s lnld6]8 87,700,320.00 4 n'lDagL ljsf; a}+s ln= -;fljs lejf]/ ljsf; a}+s lnld6]8_ 87,700,320.00 5 ;]G~r/'L sdl;{on a}+s lnld6]8 43,898,400.00 6 z'? shf{ /sd -hDdf_ 482,400,000.00 7 klxnf] jif{sf] k|To]s q}dfl;s ls:tf 2,500,000.00 8 bf]>f] jif{sf] k|To]s q}dfl;s ls:tf 7,500,000.00 9 t]>f] jif{sf] k|To]s q}dfl;s ls:tf 11,250,000.00 10 rf}yf] jif{sf] k|To]s q}dfl;s ls:tf 12,500,000.00 11 kfFrf} jif{sf] k|To]s q}dfl;s ls:tf 13,750,000.00 12 5}+6f}+ jif{sf] k|To]s q}dfl;s ls:tf 13,750,000.00 13 ;ftf} jif{sf] k|To]s q}dfl;s ls:tf 13,750,000.00 14 cf7f}+ jif{sf] k|To]s q}dfl;s ls:tf 15,000,000.00 15 gjf}+ jif{sf] k|To]s q}dfl;s ls:tf 15,000,000.00 16 bzf} jif{sf] k|To]s q}dfl;s ls:tf 15,600,000.00 17 cflZjg d;fGt @)&& ;Dd e'Qmfg ul/Psf] shf{ /sd 203,750,000.00 18 afFsL shf{ /sd 278,650,000.00
34
u=!&= d'2f tyf ljjfb ;DaGwL ljj/0f M
-s_ ;+ul7t ;+:yfsf] t/ntf, df}Hbft, sfo{ ;+rfngdf tflTjs c;/ kg]{ vfnsf] s'g} d'2fdfldnf jf ljjfb eP ;f] ;DaGwL
ljj/0f tyf pk/f]Qm d'2f jf ljjfbsf] sf/0faf6 kg{ ;Sg] k|efj ;DaGwdf Joj:yfkgsf] wf/0ff M
;f] gePsf] .
-v_ ;+ul7t ;+:yfnfO{ c;/ kg]{ u/L ;+:yfsf] ;+:yfks÷;~rfnsn] jf nfO{ bfo/ ul/Psf] d'2f ;DaGwL ljj/0fM
;f] gePsf] .
-u_ ljut kfFr jif{df ;+ul7t ;+:yfsf] s'g} ;+:yfks÷;~rfns sfnf];"rLdf k/]sf] jf s'g} g}lts jf cfly{s sf/0faf6 s'g}
lgodg lgsfo jf cbfntn] ;hfo u/fPsf] eP, To:tf] ;+:yfks÷;~rfnssf] gfd / ;hfo ug]{ lgodg lgsfo jf
cbfntsf] gfd ;DaGwL ljj/0f M
;f] gePsf] . -3_ ;+ul7t ;+:yf a}+s jf ljQLo ;+:yfdf C0f glt/L l8kmN6 ePsf], lgod cg';f/sf] z'Ns glt/]sf], lwtf]kqjfnfx?sf] s'g}
/sd e'QmfgL gul/Psf] eP tT;DaGwL ljj/0fx? M
;f] gePsf] .
u=!*= u'gf;f] ;'Gg] / ;dfwfg ug]{ k|s[of M
o; ;fj{hlgs lgisfzg ;DaGwdf nufgLstf{x?sf] u'gf;f] ;'Gg / ;f] sf] ;dfwfgsf] nflu lwtf]kq lgisfzg tyf laqmL
k|aGwssf] sfof{no PgPdla Soflk6n lnld6]8, gfukf]v/L, sf7df08f}+df Ps ljz]if sIfsf] Aoa:yf ul/Psf] 5 . ;fy}
u'gf;f] ;'Gg / ;f] sf] ;dfwfgsf] nflu lwtf]kq lgisfzg tyf laqmL k|aGwssf] sfof{nosf] kmf]g g+ $$#&( ) df ;Dks{
u/L :d[tL dxh{gnfO{ k|]lift ug{ ;lsg]5 .
u=!(=gub glnO{ s;}nfO{ lwtf]kq lgisfzg ul/Psf] 5 eg] To:tf] JolQm jf ;d"xsf] gfd, v/Lb ul/Psf] ;DklQ jf ;]jf ;DaGwL
ljj/0f, lgisfzg ul/Psf] lwtf]kqsf] ;+Vof / b/ ;DaGwL ljj/0f M
;f] gePsf] .
u=@)= C0fkq lgisfzg ;DaGwL ljj/0fM
xfn ;Dd sDkgLn] C0fkq lgisfzg u/]sf] 5}g .
u=@!= cu|flwsf/ z]o/ lgisfzg ;DaGwL ljj/0f M
xfn;Dd sDkgLn] cu|flwsf/ z]o/ hf/L u/]sf] 5}g .
u=@@= cGo ;fdfGo hfgsf/L M
-s_ ljz]if1sf] s'g} /fo ePdf, ;f] sf] ljj/0fM
k|If]lkt ljQLo ljj/0f k'g/fjnf]sg u/L 7Ls 5 egL P; cf/ kf08] P08 sDkgLsf ;'bz{g /fh kf08]n] k|dfl0ft ug{'ePsf]
5 / ;f] sf] /fo tn pNn]v eP adf]lhd /x]sf] 5 M
➢ o; ljQLo k|If]k0f tyf ljQLo k|If]k0fsf cfwf/x? sDkgL :jo+n] tof/ ul/Psf] xf] . cf=j= @)&&÷&* b]lv
@)&(÷*) ;Ddsf] k|If]lkt ljQLo ljj/0fx? jf:tljs cfFs8f tyf cfpFbf] jif{sf] ;+rfng of]hgfsf] cfwf/df
sDkgLsf] Joj:yfkgn] tof/ kf/]sf] / o;sf nflu sDkgLsf] Joj:yfkg :jo+ g} pQ/bfoL x'g]5 .
➢ o; ljQLo ljj/0fdf k|:t't ul/Psf] k|d'v cg'dfgx? adf]lhd n]vf kl/Ifsaf6 xfnsf] k|rlnt n]vf dfkb08
cg'?k k|If]lkt ljQLo ljj/0f k'g/fjnf]sg u/L ;f] sf] k|dfl0fs/0f dfq ul/Psf] 5 .
➢ k|If]lkt ljQLo ljj/0f tof/ ug'{sf] p2]Zo cfof]hgf k|efljt If]qsf jfl;Gbfx? tyf ;j{;fwf/0fx?sf] nflu z]o/
lgisfzg u/L lgisfzgaf6 k|fKt /sd cfof]hgfsf] shf{ e'QmfgLnflu k|of]u ul/g] sDkgLn] hgfPsf] 5 .
➢ k|If]lkt ljQLo ljj/0fx? eljiodf 36\g ;Sg] 36gfx? / Joj:yfkgsf sfo{x?sf] af/]df kl/sNkgLo wf/0ffx? (hypothetical assumptions) sf] cfwf/df tof/ ul/Psf] 5 / h'g eljiodf 3l6t x'g cfjZos x'g] 5}g .
sy+sbflrt sfa' aflx/sf] kl/l:ytL tyf 36gfx? ePdf o; k|If]lkt ljQLo ljj/0fdf pNn]v ul/Psf] ljQLo ljj/0f
/ jf:tljs ljQLo ljj/0fdf km/s kg{ ;Sg]5 .
➢ ljQLo k|If]k0fx? sDkgLsf] ljutsf] sfo{s'zntfsf] cfwf/df oyf{yk/s wf/0ffsf] cfwf/df tof/ u/L jt{dfgdf
nfu" x'g] n]vf lgtL (NFRS) cg';f/ k|:t't ul/Psf] 5 .
-v_ ut tLg cfly{s jif{ leqdf s'g} ;~rfns, n]vfk/LIfs kl/jt{g ePsf] eP, ;f] sf] sf/0fM
l;=g+= kl/jt{g ePsf] n]vfk/L0fsf] gfd kl/jt{g ePsf] sf/0f /flhgfdf :jLs[t÷axfn cjlw
;dfKt ePsf] ldlt
!= cf/= s]= P; P08 P;f]l;P6\; -n]vfk/LIfs_ ;fwf/0f ;efaf6 cf=j= @)&#÷)&$
@= lxd k|;fb kf7s JolQmut sf/0f /flhgfdf :jLs[t ldlt @)& ÷)!÷@@
35
-u_ sDkgL ;lrjsf] gfd, 7]ufgf / of]UotfM
kmn]jf; g=kf= $, kj{tdf :yfoL a;f]af; /xg' ePsf >L lszf]/ k|;fb l3ld/] sDkgLsf] sDkgL ;lrjsf] ?kdf sfo{/t
x'g'x'G5 . >L lszf]/ k|;fb l3ld/]n]] lqe'jg ljZjljBfno af6 PdlaP; ;Ddsf] z}lIfs of]Uotf xfl;n ug'{ePsf] 5 .
-3_ ;fj{hlgs lgisfzg ug{sf nflu ;~rfns ;ldltaf6 ePsf] lg0f{o ;DaGwL ljj/0fM
sDkgLsf]] ldlt @)& ÷)*÷)@ ut] a;]sf] ;~rfns ;ldltsf] a}7saf6 sDkgLn] ;fj{hlgs lgisfzg ug{ nfu]sf]
*,!%,$!! lsQf z]o/dWo] cfof]hgf k|efljt If]q u'NdL lhNnfsf :yfgLo afl;Gbfsf nflu lgisfzg ul/g] $,)&,&)% lsQf
;fwf/0f z]o/ ?= !))÷– c+lst b/df tyf ;j{;fwf/0fsf] nflu 5'§fOPsf] $,)&,&) lsQf ;fwf/0f z]o/ ?= !))÷– c+lst
b/df lk|ldod ?= @)÷– yk u/L hDdf ?= !@)÷– df ;fj{hlgs lgisfzg ul/g] lg0f{o ul/Psf] 5 . ;fy} ;f] lgisfzg
;DaGwL sfo{ ug{sfnflu PgPdla Soflk6n ln=, gfukf]v/L, sf7df08f}+nfO{ lwtf]kq lgisfzg tyf laqmL k|ajGwsdf lgo'Qm
ug]{] lg0f{o ul/Psf] 5 .
-ª_ ;+ul7t ;+:yf jf o;sf z]o/wgLnfO{ s'g} ljz]if s/ ;'ljwf lbOPsf] eP, ;f] ;DaGwL ljj/0fM
o; sDkgL cfos/ P]g, @)%* bkmf !!-# 3_ adf]lhd o; sDkgLn] ljB't pTkfbg z'? u/]sf] ldltn] klxnf] bz jif{;Dd
cyf{t\ cfly{s jif{ @)*! r}q d;fGt;Dd skf]{/]6 cfos/ 5'6 /x]sf] 5 / cfly{s jif{ @)*! r}q d;fGt kZrft !@=%
k|ltztsf] b/n] cfos/ nfUg] / cfly{s jif{ @)* r}q d;fGt kZrft @% k|ltztsf] b/n] cfos/ nfUg]5 . ]
-r_ ;+ul7t ;+:yfsf] kl5Nnf] cfly{s jif{sf] n]vfk/LIf0f ePsf] jf;nft, gfkmf gf]S;fg lx;fj / gub k|jfx ljj/0f k|fKt ug{
jf x]g{ ;Sg] 7fpF / ;do M
sfof{no ;doleq lgDg lnlvt :yfgx?df sDkgLsf] kl5Nnf] cfly{s jif{sf] n]vfk/LIf0f ePsf] jf;nft, gfkmf–gf]S;fg
lx;fj tyf gub k|jfxsf] ljj/0f k|fKt ug{ jf lg/LIf0f ug{ ;lsg] 5 .
!= sDkgLsf] /lhi6{8{ -s]Gb|Lo_ sfof{no sf7df8f}+ lhNnf, xfQL;f/ .
@= lwtf]kq lgisfzg tyf laqmL k|jGws – PgPdla Soflk6n lnld6]8, gfukf]v/L, sf7df8f}++ .
-5_ af]g; z]o/ ;DaGwL Joj:yf M
sDkgLn] k|rlnt P]g, sfg"g / g]kfn lwtf]kq af]8{sf] k|rlnt af]g; z]o/ lgisfzg ;DaGwL Joj:yf cg';f/ af]g;
z]o/ hf/L ug{ ;Sg]5 .
-h_ z]o/jfnf, sd{rf/L jf c? s;}sf] nflu z]o/ ;'/lIft ug]{ Joj:yf ul/Psf] ePdf ;f] s'/f M
o; ljj/0fkqåf/f lgisfzg ul/Psf] k|lt ;fwf/0f z]o/ ?= !)).– clÍt d"No (Par Value)sf s'n $,)&,&)% lsQf
;fwf/0f z]o/ cfof]hgf k|efljt If]qsf afl;Gbfx?sf nflu ;'/lIft ul/Psf] 5 . To;}u/L ;j{;fwf/0fsf] lgisfzg ul/Psf]
k|lt ;fwf/0f z]o/ ?= !))÷– c+lst b/df lk|ldod ?=@) yk u/L hDdf ?= !@)÷– df $,)&,&) lsQf z]o/sf] @
k|ltztn] x'g cfpg] *,!%$ lsQf z]o/ lgisfzg sDkgLdf sfo{/t sd{rf/Lx?sfnflu / % k|ltzt cyf{t @),#*%
lsQf z]o/ ;fd"lxs nufgL sf]if of]hgfx?sf] nflu ;'/lIft ul/Psf] 5 .
-em_ sDkgLn] sDkgL P]gn] u/]sf] Joj:yfx?, cf gf] sf/f]af/;Fu ;DalGwt P]g, lgod tyf lgodg Joj:yf k"0f{ kfngf u/]sf]
;DaGwdf u/]sf] pb\3f]if0f M
sDkgLn]] sDkgL P]g, @) # -;+zf]wg ;lxt_ n] u/]sf] Joj:yfx?, cfkm"n] ug]{ Joj;fo;Fu ;DalGwt P]g, lgod tyf
lgodg Joj:yf tyf lgodg lgsfox?n] lbPsf] lgb]{zgx?sf] k"0f{ ?kdf kfngf u/]sf] 5 / ;f]xL lgb]{zgx?sf] bfo/f
leq /xL sfo{ ul//x]sf] / o; ljj/0fkqdf pNn]v ul/Psf] ljj/0fx? ;d]t ;f]xL cg'?k tof/ ul/Psf] xf] eGg] sDkgLsf]
pb\3f]if0f /x]sf] 5 . ;fy}, lgisfzg sDkgLn] sDkgL /lhi6«f/sf] sfof{nodf cfly{s jif{ @)&%÷& ;Ddsf] k]z ug'{kg]{
ljj/0fx? k]z u/]sfn] sDkgL /lhi6«f/sf] sfof{noaf6 ldlt @)& ÷)(÷)& df sDkgL cBfjlws ;DaGwL kq k|fKt
u/]sf] 5 .
- _ lwtf]kq laqmL ljt/0f ;DaGwL Joj:yf M
o; ljj/0fkq dfkm{t lgisflzt cfof]hgf k|efljt If]qsf afl;Gbfx?sf] nflu z]o/ laqmL ljt/0fsf nflu cfof]hgf
k|efljt If]qdf laqmL k|aGwsn] ;Íng s]Gb|sf] cfjZos Joj:yf u/L cfj]bg kmf/d, ljj/0fkq ljt/0f tyf cfj]bg
kmf/d ;lxt b/vf:t /sd hDdf ug]{ Joj:yf ug]{5 . ;j{;fwf/0fsf] xsdf g]kfn lwtf]kq af]8{af6 :jLs[t ;Dk"0f{ cf:jf
;b:o a}+s tyf ljQLo ;+:yfx? dfkm{t cfj]bg lbg ;Sg] Joj:yf /x]sf] 5 .
-6_ qm]l86 /]l6Ë ;DaGwL Joj:yfM
af]8{af6 qm]l86 /]l6Ë ;DaGwL sfo{ ug{ cg'dlt k|fKt ;+:yf Oqmf g]kfn (ICRA NEPAL) n] ldlt @)&&÷)$÷!% ut]
o; ? ? hnljB't kl/of]hgf lnld6]8nfO{ “ ICRANP-IR BBB” k|bfg u/]sf] 5 / ;f] sf] cjlw Ps jif{ /xg]5
. ICRANP-IR BBB prounced as ICRA NP issuer rating Tripple B /]l6Ën] ;dodfg} ljQLo bfloTj k'/f ug]{
36
dWod ¿ksf] ;'/lIft -Moderate degree of safety regarding timely servicing of financial obligation) hgfpFb5
.
-7_ ljj/0fkq tof/ ug]{Joj;foLs ;+:yfsf] gfd / 7]ufgf ;DaGwL ljj/0f M
o; ljj/0fkq tof/ kfg]{ Jofj;flos ;+:yfdf lgisfzg tyf laqmL k|jGws PgPdla Soflk6n lnld6]8, gfukf]v/L,
sf7df8f}+ /x]sf] 5 .
-8_ ;sf/fTds kIfx? M
• cfof]hgfaf6 k|fKt x'g] cfodf !) aif{ -cf=j= @)*!÷@)*@= ;fn;Dd_ cfos/ 5'6 tyf ;f] kZrft % aif{sf] nflu %)
k|ltzt cfos/ 5'6 k|fKt ePsf] x'Fbf nfef+z b/ a9L /x]sf] .
• sDkgL;Fu bIf o'jf hgzlQm /x]sf]n] of] sDkgL g]kfndf hnljB't cfof]hgfsf] ljsf; / lgdf{0fsf] sfddf ;kmn
/x]sf] .
• hnljB'tsf] If]qdf cWoog cg';Gwfg tyf ljsf; sfo{df of]hgfa4 9+un] ;dlk{t eP/ sfd ul//x]sf] o; sDkgLsf]
eljio pHHjn /x]sf] .
-9_ z]o/ /lhi6«f/ ;DaGwL Joj:yf M
g]kfn :6s PS;r]Gh lnld6]8df ;"rLs/0f u/] kZrft\ z]o/sf] bflvn vf/]h, b:tvt ?h' cflb ;DaGwL sfo{ o;
sDkgLsf] sfof{noaf6 jf sDkgLsf] ;~rfns ;ldltn] lgo'Qm u/]sf] z]o/ /lhi6«f/sf] sfof{noaf6 x'g] u/L Joj:yf
ul/g]5 .
-0f_ lwtf]kq laqmL v'Nnf cjlw M
o; ljj/0fkqåf/f lgisfzg ul/Psf] cfof]hgf k|efljt If]qsf :yfgLo afl;Gbfx?sf] nflu hf/L ul/g] z]o/x?sf] nflu
cfj]bg lbg] cjlw laqmL v'Nnf ePsf] ldltaf6 sDtLdf !% lbg / al9df #) lbg;Dd v'Nnf /xg]5 . cfof]hgf k|efljt
If]qsf :yflgo afl;Gbfx?sf] nflu lgisfzg u/L ljqmL aGb eO{ z]o/ afF8kmfF6 eP kZrft ;j{;fwf/0fsf] nflu z]o/
lgisfzg v'Nnf ul/g]5 . ;j{;fwf/0fsf] nflu cfj]bg lbg] cjlw sDtLdf $ sfo{ lbg / a9Ldf #) lbg v'Nnf /xg]5 .
-t_ lwtf]kq btf{ lgisfzg lgodfjnL, @)&# sf] lgod (-#_ df ePsf] Joj:yfx?sf] ljj/0f M
!= cfkm\gf] p2]Zo cg';f/ sf/f]af/ ;+rfng ug{sf nflu cfjZos sfo{x? cuf8L a9fO{ Ps jif{sf] cjlw k"/f
u/]sf] M sDkgLn] ldlt @)&@÷)$÷)& ut] klAns lnld6]8sf] ?kdf btf{ eO{ cfkm\gf] pb]Zocg';f/sf]
sf/f]af/ ;+rfng ul//x]sf] 5 .
@= k|rlnt sfg"g adf]lhd n]vfkl/If0f tyf ;fwf/0f ;ef ;DkGg u/]sf] M sDkgLsf] cf=j= @)&%÷& ;Ddsf]
n]vfkl/If0f eO{ ldlt @)& =)%=#) df ;fwf/0f ;ef ;DkGg eO;s]sf] 5 . xfn cf= j= @)& ÷)&& sf]
;d]t n]vf k/LIf0fsf] sfo{ ;DkGg e} ;s]sf] / ;j{;fwf/0fdf z]o/ lgisfzgsf] k|lqmofdf /x]sfn] z]o/
afF8kmfF8 kZrft\ ;j{;fwf/0f ;d]tsf] ;xeflutfdf o;} cfly{s jif{ leqdf ;fwf/0f ;ef ;DkGg ul/g]5 .
#= cfkm\gf] p2]Zo cg';f/ sf/f]af/ ;+rfng ug{sf nflu k|rlnt sfg"g adf]lhd s'g} lgsfoaf6 Ohfht,
cg'dlt jf :jLs[t lng'kg]{ ePdf To:tf] Ohfht cg'dlt jf :jLs[tL lnO;s]sf] M sDkgLn] cfkm\gf] p2]Zo
cg';f/sf] dflyNnf] x'UbL vf]nf hnljB't cfof]hgfsf] ;j]{If0fsf] nflu ljB't P]g @)$( adf]lhd ljB't
pTkfbg ;j]{If0f cg'dlt kq ldlt @) #÷)#÷@ ut] k|fKt ul/;s]sf] 5 . ;f] cfof]hgfsf] lgdf{0f tyf
;+rfngsf] nflu ;f] P]gdf Joj:yf eP cg';f/ ljB't pTkfbg cg'dlt kq k|fKt u/L pQm cfof]hgfaf6
pTkfbg x'g] ljB't zlQm g]kfn ljB't k|flws/0fnfO{ k|;f/0f k|0ffnL ePsf] 7fpFdf k'¥ofO{ laqmL ug]{, k|flws/0fn]
klg pQm cfof]hgfaf6 pTkfbg x'g] ljB't zlQm v/Lb ug]{ ;Demf}tf ldlt @)^ ;fn c;f]h $ ut] eO{;s]sf]
5 .
$= ;+ul7t ;+:yfsf] nflu cfjZos kg]{ hUuf vl/b jf cGo k|sf/n] Joj:yf u/L sf/vfgf ejg, sfof{no
ejg, uf]bfd3/ tyf cGo cfjZos ;'ljwfx?sf] lgdf{0fsfo{ z'? ul/;s]sf] Mcfof]hgfsf] nflu cfjZos kg]{
;Dk"0f{ ef}lts k"jf{wf/x? lgdf{0f ;DkGg eO{;s]sf] 5 .
%= pTkfbgsf] k|ljlw 5gf}6 u/L pBf]usf] nflu cfjZos kg]{ oflGqs pks/0f tyf To;sf kf6k'hf{ cflb vl/b
ug{'kg]{ ePdf M o; sDkgLsf] nflu cfjZos kg]{ oflGqs pks/0f tyf To;sf kf6k'hf{ cflb vl/b ug{
7]Ssf ;Demf}tf eO{ ;f] cg';f/ lgdf{0fsfo{ eO/x]sf] .
= lwtf]kqsf] ;fj{hlgs lgisfzg ;DaGwdf lgisfzg tyf laqmL k|aGws;+u ;Demf}tf eO{;s]sf]M sDkgLsf]
k|aGwkqdf pNn]v eP adf]lhd ;j{;fwf/0fdf ;fwf/0f z]o/ lgisfzg ug{sf nflu lgisfzg tyf laqmL
k|aGws >L PgPdla Soflk6n lnld6]8;+u ;Demf}tf eO{;s]sf] .
37
&= cfof]hgf lgdf{0f cjlwe/ sDkgLsf] C0f / k"FhLsf] cg'kft lwtf]kq lgisfzg lgb]{lzsfdf tf]lsP adf]lhd
/fVg ;xdt ePsf] M o; sDkgLsf] cfof]hgf lgdf{0f cjlwe/ sDkgLsf] C0f / k"+hLsf] cg'kft lwtf]kq
lgisfzg lgb]{lzsfdf tf]lsP adf]lhd /fVg ;xdt 5f}+ .
*= ;+:yfksx?n] cfkm'n] lng sa'n u/]sf] #@, !, $$ lsQf z]o/sf] k|lt z]o/ ?=!))÷– sf b/n] ?=
#@, !, $,$))÷– ztk|ltzt /sd r'Qmf e};s]sf] 5 .
(= kl/of]hgf lgdf{0fsf nflu kmfOgflG;Pn Snf]h/ (Financial Closure)e};s]sf]M
o; kl/of]hgf lgdf{0fsfnflu ln8 a}+ssf] ?kdf PgPdla a}+s lnld6]8 dfkm{t kmfOgflG;Pn Snf]h/ e}
cfof]hgfsf] lgdf{0f sfo{ ;d]t ;DkGg e} cfof]hgf ;~rfngdf cfO{;s]sf] 5 .
!)= hnljB't pTkfbg ;+:yf ePdf, ljB't vl/b ;Demf}tf ul/;s]sf] M o; ? ? hnljB't kl/of]hgf lnld6]8af6
pTkfbg x'g] ;Dk"0f{ ljB't vl/bsf] nfuL g]kfn ljB't k|lws/0f ;+u ldlt @)^ ÷)$÷)$ df ;Demf}tf
;DkGg eO{ sfof{Gjog ;d]t eO{;s]sf] 5 .
!!= ;j{;fwf/0fnfO{ lgisfzg ug{ nfu]sf] z]o/x? lwtf]kq lgisfzg tyf afF8kmfF8 lgb]{lzsf @)&$, df tf]lsP
adf]lhd k|Tofe't u/fPsf] M ;j{;fwf/0fnfO{ lgisfzg ug{ nfu]sf] z]o/x? lwtf]kq lgisfzg tyf afF8kmfF8
lgb]{lzsf @)&$, df tf]lsP adf]lhd >L PgcfOlaPn P; Soflk6n lnld6]8åf/f k|Tofe'lt ug]{ k|ltj4tf
k|fKt ePsf] 5 .
u=@# ;~rfns tyf lj1x?sf] gfd tyf b:tvtM
o; ljj/0fkqdf k|sflzt tYo tyf ljj/0fx? 7Ls b'?:t 5g, ;f] df s'g} km/s k/]df xfdL ;~rfnsx? k"0f{?kdf lhDd]jf/
x'g]5f}+ egL ;xL 5fk ug]{ sDkgLsf] ;~rfnsx?sf] gfd tyf b:tvt M
qm=;+= ;~rfnsx?sf] gfd kb b:tvt
!= >L cflzif ;'j]bL cWoIf
@= >L e/t k|;fb g]kfn ;~rfns
#= >L ldg /fh s8]+n ;~rfns
$= >L ud k|;fb /]ZdL ;~rfns
%= >L rGb| axfb'/ k'g ;~rfns
38
@$= lgisfzg tyf laqmL k|jGwsn] k|:t't u/]sf] k|lta4tf kq -8\o' 8]lnh]G;\\ ;l6{lkms]6_ sf] k|ltM
39
@%= ljj/0fkq, ljQLo ljj/0f tyf cGo s'g} s'/fdf lj1n] /fo lbPsf] eP ;f] ;DaGwL kq M