| Biswo |
Posted
on 11-Sep-00 10:28 PM
Please read this news::
KATHMANDU, Sept 12 - Having failed to buy a jet aircraft, the Royal Nepal Army (RNA) is now trying to set up
and run a commercial bank.
According to Kantipur, a senior government official told the newspaper that the Army has already informed
Prime Minister Girija Prasad Koirala of its aspiration to operate its own bank. "The Prime Minister has asked
the Ministry of Finance to advise him on the RNA new proposal," said the official.
RNA is currently waiting a positive nod from the Finance Ministry to formally apply at the Nepal Rastra Bank
(NRB), the regulatory body of the banking system, for operating license. A senior NRB official confirmed that
no such application has been formally registered so far. But the Army is known to have approached senior
officials in various banking and financial institutions for their recruitment in the proposed bank.
However, a senior official at the Finance Ministry said the Ministry is averse to RNA proposal and is unlikely
to endorse it. " We think the RNA is not a right institution to run a commercial bank," said the official.
RNA?s effort to establish the bank follows its failure in securing Rs 2.31 billion from Nepali financial
institutions to purchase RJ-100 Avro aircraft from British Aerospace Systems.
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It is sad to hear that our army is trying to
venture in business.But they shouldn't.
The reason is army is so almighty that if it
tries to apply unfair tactics in business,
there will be no curb.
The investors and competitors will be scared
away by such a sacrosanct institute run
business.
In People's Republic of China,the army was so
big,controlling so many businesses that
finally the government decided that it was
enough.Nobody could check the army smuggling
stuffs,selling contraband liquors in the
army run discotheques and etc..The government
found that it is losing billions in revenue.
Now the army is divested of its all business
portfolios.
Another reason why army shouldn't do business
is the generals may be in unfairly good
position to do business than,say Thakur Panta
or Binod Chaudhary.Country shouldn't allow
such a thing to happen.
No doubt we need a strong army.We doubt the
sincerity of our southern neighbor,anyway.But
our army should be strengthen with fair
practice.
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