Kathmandu, December 29

Stakeholders have stressed on the need to implement the concept of corporate governance at all levels of the professional world. They have stated that though its implementation is challenging corporate governance is very important in business.

Speaking at a programme organised by Ace International Business School, today, Kul Man Ghising, managing director of Nepal Electricity Authority, said corporate governance is not only about taking responsibility but also about being ethical, accountable and transparent. “The most important aspect is ‘how you build you team’ with the help of collective management by utilising the strengths of each employee,” he said, adding that corporate governance starts with an individual.

Saurabh Jyoti, director of Jyoti Group, stated that corporate governance is equally important even in a family-run business. He mentioned that the right output by an employee in the right place will help achieve organisation goals and vision. On a different note, Jyoti also spoke about the need for the government to increase budget spending as the economy always faces a liquidity crisis when the government is unable to invest budget in the productive sector.

Meanwhile, Anupama Khunjeli, chief executive officer of Mega Bank Nepal, said that individual personality, attitude and aptitude enhance performance which consequently will lead to competent governance. “Corporate governance is also important for a growing economy like Nepal as it will encourage foreign direct investment,” she added.

Speaking on the occasion, Siddhant Raj Pandey, chairman of Business Oxygen, mentioned that though Nepal had drafted one of the best policies and regulations, the major problem was in their implementation. “When companies provide handsome facilities they expect a certain level of commitment from concerned employees,” he said, adding that employees thus need to be accountable to the organisation.

Meanwhile, Ajay Ghimire, chairman of Ace Education Ventures, said that implementation of corporate governance is challenging in Nepal. He emphasised that both the government and private entities need to minimise corruption and cope with challenges in a proper manner.