Kathmandu, Sept. 15
Nepal
Transport and Warehousing Company Limited (NTWCL), a state-owned enterprise has
entered its 55th year of establishment. The company was established in
September 1970 with the aim of providing transportation related services for
goods exported from Nepal to overseas countries and imported from those
countries.
Industry,
Commerce and Supplies Minister Damodar Bhandari said that the company should
proceed with a business plan in the coming days.
"The
jurisdiction of the company should be improved. There is no option but to move
forward by making an effective and strategic action plan," he said, "It
is not possible to fulfill the target of Nepal's international trade in the
current state. There are a lot of challenges and complications that must be overcome
with better professional performance."
Minister
Bhandari said that many daunting obstacles have been overcome in the past many
years since the establishment of the company.
Likewise,
the Secretary of the Ministry of Industry, Commerce and Supplies, Krishna
Bahadur Raut emphasised that the company should expand its services. He said
that everyone's support and cooperation is necessary to make the company agile.
According
to him, there is a need to expand the branches through institutional
restructuring.
Chairman
of the NTWCL, Chhapiraj Pant promised to play a more specific and sophisticated
role in Nepal's import-export trade, warehouse operation and transportation
facilitation. He said that he expected the creative support and cooperation of
all stakeholders to make the company more dynamic and expand its services.
Likewise,
General Manager of the company, Prakash Prasad Pokharel, said that the company
will develop a business plan and move forward and there is a plan to start the
construction of infrastructure for coal storage on the leased land in Haldia of
India to invite private investment partnership in the construction of
infrastructure on the leased land in Kolkata Port, and to prepare a business
model for the operation of truck transportation services from Kolkata to Nepal.
Under
the Companies Act of India, 1956, this company, which has been registered as a
foreign company in India and is continuously providing services, is providing
services through eight offices, including the central office, branches and
sub-branches.
The
NTWCL was established with the aim of supporting the development of Nepal's
economy by facilitating the import-export trade, increasing
transportation-related facilities in foreign trade and stabilising costs, and
providing necessary facilities and services to all government and
non-government customers.
The
company has branch offices in Kolkata, Kakadbhitta, Birgunj, Gautam Buddha
International Airport and Tribhuvan International Airport. Similarly, there are
sub-branches in Haldia and Radhikapur.
Through
these offices, the company provides clearing (customs documentation, duty and
tax calculation and customs clearance), forwarding (transport coordination,
transportation documentation, cargo handling and warehousing) and undertaking
services, informed Pokharel.
In
the Fiscal Year 2022/23, the company has earned Rs. 302.2 million and spent Rs.
261.1 million to earn a net profit of Rs. 41.1. The company has an accumulated
profit of Rs. 543.8 million.
The
Ministry of Finance, Ministry of Industry, Commerce and Supplies and the Financial
Comptroller General Office hold 12,243 units of shares in the company at the
rate of 1,000 per share.
The
company has prepared annual policy and programmes to further expand the service
area in the current Fiscal Year 2024/25. It has emphasised on the construction
of necessary infrastructure for the commercial use of long-term leased land in
Kolkata-Haldia in India and Birganj-Raxaul in India.
According
to Pokharel, procedural arrangements will be made regarding operation and
management partnership.
It
is mentioned in the policy and programmes that necessary study and
consultations will be conducted for the search of new business opportunities
while absorbing the changes in the nature of logistics services related to
business facilitation that the company has been operating traditionally.
Similarly,
to increase the company's role in transportation logistics, it said that it
will look for formal partnership possibilities with related parties and
emphasize on marketing and marketing.
Published in The Rising Nepal daily on 16 September 2024.
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