Successful reforms:

This refers to Dr Dandapani Paudel’s article “Financial sector reform: Pitfalls of partial adoption” published in THT on February 27. Paudel indicated that NBL’s performance under the restructuring programme has been unsatisfactory, which is not true. When the management team assumed responsibility on July 21, 2002, the NBL had completed a year with a net loss of Rs. 3.1 billion. That was the sixth consecutive year of such losses. The programme’s objectives were to stop financial haemorrhaging, revise and update inappropriate procedures, train staff to be more efficient and professional, identify and stop fraud, waste and insider abuse and return the bank to sustainable profitability. All these have been accomplished. The results of the financial restructuring of NBL represent an attractive return on investment for Nepal. A grossly mismanaged institution has returned to sustainable profitability. If there is anything unsatisfactory with restructuring it has been the steadfast refusal of willful defaulters and financial renegades to meet their contractual and moral obligations under the commitments they entered with the bank. Equally disappointing has been the posturing of those who profess to support bank restructuring. In reality they have vigorously opposed concrete action to strengthen the banking system and attempted to compromise the few tools available to the banks to obtain loan repayment from defaulters. These renegades continue to support change in the system to the detriment of banks and financial institutions and for the benefit of a privileged few who operate outside the law. The victims are not just the banks, but also the employees who do not receive salaries, suppliers who are not paid for their products and the government and public as a result of the failure of the economic renegades to pay taxes on time.

J Craig McAllister, chief executive officer, NBL

Norway’s role:

At a time when the poor Nepalis continue to suffer the most from the conflict, the Norwegian representative’s proposal to help solve Nepal’s crisis should be welcomed by the government and the agitating parties. Given Norway’s past experience in conflict resolution in many countries, it can actually play a meaningful role in restoring peace in Nepal, too.

Ishwari Pradhan, via e-mail

Recognition:

It is good that Padma Kanya Campus, one of the country’s oldest women’s colleges, has allowed its students to write their mothers’ name in admission forms. Although this seems a small decision, it will go a long way in Nepali women’s fight for equality. This will especially benefit single mothers. The NGOs should pressurise the government to recognise and implement this idea in all other sectors.

Eak Prasad, Dhading

Save them:

It was sad to read the news “Locals kill seven red pandas” (THT, March 7). It is unfortunate that the Nepalis are still unaware of the importance of saving endangered species like the red panda. The government should soon launch awareness programmes in the villages to save these animals.

Samridhi, via e-mail