Kathmandu: Members of business fraternity and experts appreciated the contribution made by Prabhakar SJB Rana in the field of business on Sunday. Speaking at the first Prabhakar SJB Rana Memorial Lecture organized by Nepal-India Chamber of Commerce and Industry (NICCI) in Kathmandu, they highlighted the pivotal role Rana played in promoting Nepal’s business landscape.
Rana, who passed away in 2019, was the founder President of NICCI and had a long range of business and social associations including with Hotel Association of Nepal (HAN), Independent Power Producers’ Association, Nepal (IPPAN), PATA Nepal Chapter, Nepal Heritage Society among others.
The speakers remembered late Prabhakar SJB Rana as a towering figure very close to the political powers, who had maintained good relations with political parties but never took advantages for his personal benefits.
Remembering his father, Siddhartha SJB Rana, chairman of Tara Management, said that the Nepal was ahead of India in the 90s in opening up the economy, but Nepal somewhat stalled. “The disheartening thing is that Nepal has been caught in changing the political systems without addressing economic needs,” he said suggesting that the Bhairahawa and Pokhara Airports could have been fully operational, had the government planned them well.
“NICCI is honored to remember Mr Rana as a visionary leader, entrepreneur, and trailblazer in Nepal’s overall business, hospitality sector, industry and hydropower,” NICCI President Sunil KC said, on the occasion. “NICCI will organize Prabhakar SJB Rana Memorial Lecture every two years.”
Prasanna Srivastava, Deputy Chief of Mission, Embassy of India to Nepal in Kathmandu, noted some of the major achievements of the Indian government in Nepal. He highlighted the recent commerce secretary level talks followed after the trade and transit meet in January this year. He also highlighted Nepal-India engagement on facilitating bilateral trade and energy, the tripartite power agreement between Nepal-India-Bangladesh, and the net revenue Nepal earned by exporting energy, apar from digital connectivity.
Dr Subramanian Krishnamurthy Venkata, International Monetary Fund (IMF) executive director and former chief economic advisor of the Government of India, stressed on religious capitalism. “Wealth generation is not a necessary evil but a boon and this is an ideology that has been adopted from the ideologies of the East built from dharmic capitalism and the civilizational ethos that enabled our ancestors to pursue and receive enormous success,” he said.
“Four purusharthas that include Dharma, Artha, Kaama and Mokshya are part of our ethos,” Dr Subramanian said, reminding the Sri Suktam. “Wealth is not a necessary evil, but a boon to be received. So, we have to disband the imported ideologies.”
On the occasion, NICCI launched “Business Climate Survey for Indian Companies in Nepal, 2024.” The survey contains recommendations for the government to help facilitate the Indian joint ventures (JV) so that they can create more jobs in the country.
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