“In free market, the first challenge is to start and then to survive through competition”

<br><strong>Pradeep Kumar Shrestha,</strong> Managing Director, Panchakanya Group

Sept. 10, 2012, 5:45 p.m. Published in Magazine Issue: Vol. : 06 No. -07 Sept. 07-2012 (Bhadra 22, 2069)<br>

How do you rate the 40 years of Panchakanya Group?

Due to our hard work and dedication, Panchakanya Group has laid strong foundations for the industrial sector of Nepal. We are now taking the ups and downs in the industry in a normal way. Although it is not easy to work in industrial sector in our country, but we know hard work pays off. We didn’t sit by blaming the government or the acts and laws in our 40 years. When we started our business, it was very difficult to get the license and those who got the license were considered lucky. But it was easy to work after obtaining the license. But now the scenario has reversed. It is very competitive currently. Due to free market, we have to compete with both local and foreign industrialists. Previously, it was politically more stable. Although it was difficult for us to get license, but after that it was easier due to political stability. But at that time, market was small, problems were small and we were also small. But now it is not the similar case.

 

According to your experience, how challenging is it to succeed in industrial business?

In this free market, the first challenge is to start and then to survive through competition. Nepal has to directly compete with big countries like India and China. If business was easy, then everybody would have come to do business. Only those who have strong will, compete in the market. There is no alternative for the country other than to flourish industrially. Our country cannot move forward on others’ aid and support only. So there is no alternative to business. More than 4 lakhs labor migrate to other countries but in those countries it is difficult even to get local manpower. As there are a lot of challenges, it is not easy in Nepal to do industrial business.

 

People complain that businessmen invest without doing enough market research. What sort of researches do you do?

We first survey the market. Due to our goodwill, people become ready to at least try our products and then people slowly start using the product after seeing its value. We never compromise on our quality and all our products are quality assured. We have become successful many times because of right timing as well. We are the pioneers for many of the market products.


What are the upcoming plans of Panchakanya Group?

After entering free market, we compete with other national and international companies and we became successful as well. Government must also have seen this. Even in our country third generation has already come. They have experiences both in Nepal and abroad. They want to take this industrial business one step further. For them, Nepali market is very small. We have told the government many times that, it should not only try to attract foreign investments but also legally open the door for Nepalis who can earn money by working and investing abroad. Liquidity flows where there is slope. Money is still being transferred from illegal ways, so it is necessary to stop that. We might also invest abroad, but we by no means will take the illegal channels. My aim is to take the process forward legally and I think I can do that.

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