sDkgL P]g, @)^# cGtu{t ;+:yflkt / ;+rflnt

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NRN Infrastructure and Development Limited

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kmf]g g+M (&&–)!–$$(@(#(, $$($(@$
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-sDkgL P]g @)^# sf] bkmf @# sf] pkbkmf -!_, lwtf]kq ;DaGwL P]g, @)^# sf] bkmf #) sf] pkbkmf -!_ / lwtf]kq btf{
tyf lgisfzg lgodfjnL, @)&# cGtu{t k|sflzt_
ljj/0f kq
sDkgLsf] g]6jy{ tyf k|lt z]o/ cfDbfgLdf ePsf] jf:tljs tyf k|If]lkt cf};t k|ltkmn b]xfo adf]lhd /x]sf] 5 .
jf:tljs k|If]lkt
ljj/0f
2073/74 2074/75 2075/76 2076/77 2077/78 2078/79

;+lrt gfkmf gf]S;fg -?= xhf/df_ 32,573.57 25,967.70 16,319.22 24,170.93 39,255.19 49,447.24

k|lt z]o/ g]6jy{ -?_ 104.58 103.38 102.06 102.13 103.47 104.37
k|lt z]o/ cfDbfgL -?_ 1.95 3.38 2.04 2.04 3.33 4.3

cfˆgf] hf/L k"FhL ?= !,!#,@^,*@,!))÷–-cIf/]kL Ps cj{ t]x| s/f]8 5lAa; nfv aof;L xhf/ Ps ;o dfq_ sf] #)Ü cyf{t ?= ##,(*,)$,^))÷–
/sd a/fa/sf] ?=!)).– c+lst b/sf ##,(*,)$^ lsQf z]o/dWo] ^&,(^! lsQf -@ k|ltzt_ sd{rf/Lx?nfO{ !,^(,()@ lsQf -% k|ltzt_ z]o/
;fd"lxs nufgL sf]ifsf] nflu ;'/lIft u/L afFsL /xg] #!,^),!*#÷–lsQf ;fwf/0f z]o/sf] ;fj{hlgs lgisfzg ul/Psf] .
b/vf:t;fy k|lt z]o/ ?=!)).— sf b/n] -ztk|ltzt_ e'QmfgL dfu ul/Psf]
nufgLdf x'g] hf]lvd ;DaGwL pb\3f]if0f M
lwtf]kqdf ul/g] nufgLdf hf]lvd x'g] ePsf]n] To:tf] hf]lvdsf] d"NofËg ug]{ k|d'v bfloTj nufgLstf{ :jo+sf] x'g]5 / lwtf]kqsf] lgisfzg d"Non]
;"rLs/0f kZrft lwtf]kq ahf/df x'g] sf/f]af/ d"No ghgfpg] x'Fbf o; ljj/0fkqsf] bkmf * df pNn]lvt hf]lvdx? ;d]tsf] cWoog u/]/ dfq nufgL
;DaGwL lg0f{o lng ;'emfj ul/G5 .
lgodg lgsfosf] hjfb]xLtf g/xg] pb\3f]if0f M
o; ljj/0fkqdf pNn]lvt lwtf]kq ;fj{hlgs lgisfzgsf] nflu tof/ ul/Psf] o; ljj/0fkqnfO{ lwtf]kq ;DaGwL P]g, @)^# adf]lhd g]kfn lwtf]kq
af]8{n] :jLs[tL k|bfg ug]{5 . o;/L af]8{n] ljj/0fkq :jLs[tL k|bfg u/]sf] sf/0faf6 s;}n] klg g]kfn lwtf]kq af]8{, sDkgL /lhi6«f/sf] sfof{no jf
;Da4 cGo lgodg lgsfon] ljj/0fkqdf pNn]lvt s'/fsf] ;Totf jf lgisfzgstf{ jf kl/of]hgfsf] cfly{s ;Ifdtfsf] af/]df s'g} k|sf/sf k|Tofe"t
u/]sf] jf lhDd]jf/ lnPsf] dflgg] 5}g .
qm]l86 /]l6Ë ;DaGwL ljj/0f M
o; ljj/0fkq dfkm{t lgisfzg ul/g] ;fwf/0f z]o/sf] ;fj{hlgs lgisfzg ug{sf nflu s]o/ /]l6Ë;\ g]kfn lnld6]8n] @)&^÷)$÷@* df …CARE-NP
IPO Grade 4Ú k|df0fkq k|bfg u/]sf] 5 / of] ldlt @)&&÷)$÷@& ;Dd dfGo /xg]5 . …CARE-NP IPO Grade 4Ú n] cf}ift eGbf tnsf] cfwf/x? -
Below-Average Fundamentals _ nfO{ hgfpF5 . ;f] ;DaGwL ljj/0f o; ljj/0fkqsf] bkmf @@ -6_ df pNn]v ul/Psf] 5 .

g]kfn lwtf]kq af]8{af6 ljj/0fkq :jLs[t ePsf] ldlt M@)&^÷!!÷)$

sDkgL /lhi6«f/sf] sfof{nodf ljj/0fkq btf{ ePsf] ldlt M@)&^÷!!÷@(
lgisfzg v'Nnf x'g] ldlt M@)&&÷)$÷!^
lgisfzg aGb x'g] ldlt -l56f]df_ M@)&&÷)$÷@! -a}+lsË ;do kZrft_
lgisfzg aGb x'g] ldlt -l9nf]df_ M@)&&÷)%÷)# -a}+lsË ;do kZrft_
lwtf]kq lgisfzg tyf laqmL k|jGwsM

;flgdf Soflk6n lnld6]8

/lhi68{ sfof{noM z]o/ dfs]{6\; sdlz{on sDKn]S; bf];|f] tnf, k'tnL;8s, sf7df08f}+
kmf]g g+= )!–$@@(!@$÷!@% ˆofS; g+=–)!–$@@(!$)
Email: sanimacapital@sanimabank.com Website: www.sanima.capital
-v_ != ljj/0fkqdf k|of]u ePsf k|fljlws tyf cGo zAbfjnLsf] kl/efiff M

s_æljj/0fkqÆ eGgfn] ;fj{hlgs ?kdf z]o/ lgisfzg ug{ lwtf]kq ;DaGwL P]g, @)^# sf] bkmf #) tyf sDkgL P]g, @)^#
sf] bkmf @# cGtu{t tof/ kf/L k|sflzt tyf lgisfzg sDkgLsf] ;Gbe{df nufgLstf{x?nfO{ hfgsf/L lbgsf] nflu tof/
ul/Psf] k|:t't k'l:tsfnfO{ ;Demg' kb{5 .

v_ælwtf]kq lgisfzg tyf laqmL k|jGwsÆ eGgfn] ;flgdf Soflk6n lnld6]8, k'tnL;8s, sf7df08f}+nfO{ ;Demg' kb{5 .

u_ælwtf]kqÆ eGgfn] ;+ul7t ;+:yfn] hf/L u/]sf] z]o/, :6s, af]08, l8j]Gr/, l8j]Gr/ :6s jf ;fd'lxs nufgL of]hgf ;DjGwL
k|df0fkq jf g]kfn ;/sf/n] hf/L u/]sf] jf g]kfn ;/sf/sf] hdfgtdf ;+ul7t ;+:yfn] hf/L u/]sf] C0fkq, jrtkq jf a08
;Demg'k5{ / ;f] zAbn] lwtf]kqahf/ dfkm{t sf/f]af/ x'g ;Sg] jf x:tfGt/0f x'g ;Sg] elg af]8{n] tf]lslbPsf] cGo lwtf]kq jf
To:tf] lwtf]kq vl/b, laqmL jf ljlgdo ug{ ;Sg] clwsf/kq ;d]tnfO{ hgfpF5 .

3_æ;+ul7t ;+:yf÷sDkgLÆ eGgfn] ;fj{hlgs lgisfzgstf{ sDkgL Pgcf/Pg OGk|mf:6Sr/ P08 8]enkd]G6 lnld6]8, rfjlxn,
sf7df08+f+}nfO{ ;Demg'kb{5 .

ª_æ;+sng s]Gb|Æ eGgfn] g]kfn lwtf]kq af]8{af6 :jLs[lt k|fKt u/]sf ;Dk"0f{ cf:jf (ASBA) ;b:o a}+s tyf ljQLo ;+:yfx?nfO{{
;Demg' kb{5 .

r_ælgisfzg a}+sÆ eGgfn] lgisfzg tyf laqmL k|aGws;Fu ;Demf}tf u/L lwtf]kq lgisfzgsf qmddf cfj]bsaf6 k|fKt x'g]
/sd hDdf ug{ lhDd]jf/L lng] jfl0fHo a}+s tyf /fli6«o :t/sf] ljsf; a}+snfO{ ;Demg' k5{ .

5_ælgodg lgsfoÆ eGgfn] g]kfn lwtf]kq af]8{, sDkgL /lhi6«f/sf] sfof{nonfO{ ;Demg' kb{5 .

Hf_æ;+:yfks, ;~rfns, k|d'v sfo{sf/L clws[t tyf Joj:yfkgÆ eGgfn] Pgcf/Pg OGk|mf:6Sr/ P08 8]enkd]G6 lnld6]8sf]
;+:yfks, ;~rfns, sfo{sf/L k|d'v tyf Joj:yfkgnfO{ ;Demg' kb{5 .

em_æaf]8{Æ eGgfn] g]kfn lwtf]kq af]8{nfO{ ;Demg' kb{5 .

@= ljj/0fkq tyf b/vf:t k|fKt ug]{ / a'emfpg] :yfgM

l;=g+= ljj/0fkq k|fKt ug]{ :yfgsf] gfd / 7]ufgf

;flgdf Soflk6n lnld6]8, z]o/ dfs]{6 sdlz{on sKn]S;, bf];|f] tnf, k'tnL;8s, sf7df08f+} / j]j;fO6
!=
Mwww.sanima.capital
Pgcf/Pg OGk|mf:6Sr/ P08 8]enkd]G6 lnld6]8 rfjlxn Knfhf–t];|f] tnf, rfjlxn, sf7df08f+} /
@=
j]j;fO6 M www.nrnil.com
#= g]kfn lwtf]kq af]8{sf] j]e;fO6M http://sebon.gov.np/prospectus

l;=g+
b/vf:t
= b/vf:t kmf/d k|fKt ug]{ / a'emfpg] :yfg M
!=
g]kfn lwtf]kq af]8{af6 l:js[lt k|fKt u/]sf ;Dk"0f{ cf:jf (ASBA) ;b:o a}+s tyf ljQLo ;+:yfx? /
ltgsf tf]lsPsf zfvf sfof{nox? .

1
-u_
!=lwtf]kq lgisfzg tyf laqmL k|jGwssf] pb\3f]if0fM
xfdLnfO{ Pgcf/Pg OGk|mf:6Sr/ P08 8]enkd]G6 lnld6]8 tyf o;sf ;+:yfks÷;+rfnsx?n] pknAw u/fPsf] ljj/0f tyf
hfgsf/Lx?sf] cfwf/df To; ;+:yfsf] Joj:yfklso, k|fljlws / cfly{s kIfsf] ljZn]if0ffTds cWoogaf6 xfdL ;Gt'i6 x'g'sf]
;fy} ljj/0fkqdf n]lvPsf cfly{s ljj/0fx? / cGo hfgsf/L tYout, k"0f{ / ;xL b]lvPsf]n] nufgLstf{x?nfO{ nufgL ;DaGwL
lg0f{o lng d2t k'Ug] s'/fk|lt ljZj:t eO{ xfdLn] of] ljj/0fkq :jLs[ltsf nflu g]kfn lwtf]kq af]8{df ælwtf]kq ;DaGwL P]g,
@)^#Æ tyf ælwtf]kq btf{ tyf lgisfzg lgodfjnL, @)&#Æ cg'?ksf] of]Uotf k'u]sf] k|lta4tfkq
(Due Diligence Certificate) k|:t't u/]sf 5f}+ .

@=;+ul7t ;+:yfsf] pb\3f]if0f M

s_ ;+rfnssf] lhDd]jf/L tyf hjfkmb]lxtf ;DaGwL pb\3f]if0f M
of] ljj/0fkq xfdLn] k'g/fjnf]sg u/L cg'df]bg u/]sf] x'gfn] o; ljj/0fkqdf pNn]v ul/Psf ljj/0f tyf hfgsf/Lx?sf] ;fy}
lgisfzg tyf laqmL k|jGwsnfO{ lbPsf] ljQLo ljj/0f, cGo ljj/0f, hfgsf/L tyf sfuhftx?sf] ;Totf / z'4tf k|lt /
lwtf]kq btf{ tyf lgisfzg cg'dlt k|of]hgsf nflu g]kfn lwtf]kq af]8{df k]z ul/Psf] ljj/0fkq / ;f];Fu ;DalGwt cGo
ljj/0f tyf hfgsf/Lx?sf] z'4tf tyf ;Totfk|lt o; ljj/0fkqdf x:tfIf/ ug]{ xfdL ;~rfnsx? JolQmut jf ;fd"lxs ?kdf
hjfkmb]lxtf axg ub{5f}+ / lwtf]kq lgisfzgsf nflu tf]lsPsf zt{ tyf cfjZostfx?sf] ;DaGwdf cfjZos hfgsf/L lnO{
xfdL of] pb\3f]if0f ub{5f}+ ls tf]lsPsf zt{ tyf cfjZostfx? ;a} kfngf u/]sf 5f}+ / nufgLstf{x?nfO{ nufgL ;DaGwL ;';"lrt
lg0f{o lng cfjZos s'g} ljj/0f, ;"rgf tyf hfgsf/Lx? n'sfPsf 5}gf}+ .

v_ ;+ul7t ;+:yfsf] hjfkmb]xLtf ;DaGwL pb\3f]if0f M

o; Pgcf/Pg OGk|mf:6Sr/ P08 8]enkd]G6 lnld6]8n] k|sflzt u/]sf] ljj/0fkq, ;fj{hlgs k|:tfj, lj1fkg jf cGo s'g}
;"rgfdf pNn]v ePsf ljj/0fx? afx]s sDkgLsf] af/]df k|sflzt cGo s'g} ;"rgf jf hfgsf/Lsf] hjfkmb]lxtf sDkgLdf g/xg]
/ To:tf] ;"rgf, hfgsf/L jf ljj/0fsf] cfwf/df nufgL u/]df ;f]sf] hf]lvd nufgLstf{ :jo+n] axg ug'{kg]{5 .

u_ lgodg lgsfosf] lgodg Joj:yfsf] kfngf ;DaGwL pb\3f]if0f M

k|rlnt sfg"g cg';f/ cfˆgf] pBf]u÷Joj;fo÷;]jf;Fu ;DalGwt lgodg lgsfo -h:t} sDkgL /lhi6«f/sf] sfof{no, cflb_ sf]
;fj{hlgs lgisfzg tyf cGo lgodg Joj:yf tyf lgb{]zgx?sf] kfngf u/]sf] s'/fsf] pb\3f]if0f ub{5f}+ . ;fy} ;fj{hlgs
lgisfzg k|of]hgsf] nflu tof/ ul/Psf] ljj/0fkq / ;f] df pNn]lvt ;Demf}tf jf cGo ljj/0fx? g]kfn lwtf]kq af]8{, g]kfn
:6s PS;r]~h lnld6]8df k]z u/]sf 5f}+ .

3_ ;+:yfks, ;+rfns tyf sfo{sf/L k|d'v ;DaGwL pb3f]if0f M

-!_o; sDkgLsf ;+:yfks, ;~rfns jf k|d'v sfo{sf/L cWoIf shf{ ;"rgf s]Gb|sf] sfnf] ;"rLdf /x]sf 5}gg\ .
-@_o; sDkgLsf ;~rfns jf k|d'v sfo{sf/L cWoIf sfnf] ;"rLdf /x]sf] cGo ;+ul7t ;+:yfdf ;~rfns jf k|d'v sfo{sf/L
/x]sf 5}gg\ .
-#_;fj{hlgs lgisfzg dfkm{t ;j{;fwf/0faf6 k"FhL ;+sng u/L a]kQf ePsf jf ;+rfngdf g/x]sf jf nufgLstf{x?sf] lxt
ljk/Lt x'g] sfo{ u/]sf] ;+ul7t ;+:yfsf] ;~rfns jf sfo{sf/L k|d'v o; sDkgLsf] ;~rfns jf sfo{sf/L k|d'v 5}gg\ .
-$_lwtf]kq ;DaGwL sfg"g ljk/Lt sfo{ u/]sf] sf/0f lwtf]kq ahf/ jf lwtf]kq Joj;foLsf] cg'dltkq vf/]h ePsf] bz jif{
k"/f gePsf] ;+ul7t ;+:yfsf] ;~rfns jf k|d'v sfo{sf/L o; sDkgLsf]] ;~rfns jf k|d'v sfo{sf/L 5}gg\ .
-%_o; sDkgLsf]] ;~rfns jf k|d'v sfo{sf/L lwtf]kq ;DaGwL P]gsf] bkmf !)* adf]lhd ;~rfns jf k|d'v sfo{sf/L x'g
cof]Uo /x]sf 5}gg\ .
#=;+ul7t ;+:yf ;DaGwL hfgsf/LM
s_ ;+ul7t ;+:yfsf] k[i7e"ldM
-s_ ;+:yfsf] gfdM Pgcf/Pg OGk|mf:6Sr/ P08 8]enkd]G6 lnld6]8 (NRN Infrastructure and Development Limited_ .
-v_ ;+:yf s'g P]g cGtu{t :yflkt ePsf] ;f] s'/fM
o; Pgcf/Pg OGk|mf:6Sr/ P08 8]enkd]G6 lnld6]8 sDkgL P]g, @)^# adf]lhd ldlt @)^(÷)%÷#! df klAns lnld6]8sf]
?kdf btf{ ePsf] xf] .

2
-u_ ;+:yfsf] /lhi68{ 7]ufgfM
o; sDkgLsf] /lhi68{ -s]Gb|Lo_ sfof{no sf7df08f}+ lhNnf, sf=d=g=kf &, rfjlxndf /x]sf] 5 . ;DalGwt lgsfosf] :jLs[lt
k|fKt u/L cGo ljleGg :yfgx?df zfvf sfof{no vf]Ng jf /lhi68{ sfof{no :yfgfGt/0f ug{ ;lsg]5 .
-3_ sf/f]af/ ug]{ d'Vo :yfgM o; sDkgLsf] sf/f]af/ ug{] d'Vo :yfg /lhi68{ -s]Gb|Lo_ sfof{no sf7df08f}+ lhNnf, sf=d=g=kf
&, rfjlxndf /x]sf] 5 .
-ª_ ;+ul7t ;+:yfsf] :yfkgfsfnb]lv xfn;Ddsf] ;+lIfKt Oltxf; / ;+ul7t ;+:yfsf] d'Vo p2]Zox?M
Pgcf/Pg OGk|mf:6Sr/ P08 8]enkd]G6 lnld6]8 cGt{ut :yfkgf ePsf] sDkgLsf] xfn;Ddsf] ;+lIfKt ljj/0f
 o; sDkgL @)^(÷)%÷#! ut] sDkgL /lhi6«f/sf] sfof{nodf btf{ eO{ sDkgL P]g @)^# cGtu{t sfd÷sf/f]af/ ub}{
cfO/x]sf] 5 .
 xfn o; sDkgLdf &(% hgf ;+:yfks z]o/wgLx? /x]sf 5g\ . o; sDkgLsf ;+:yfks z]o/wgLx? ljB't, a}+s÷ljQLo
If]q, z}lIfs If]q Pj+ /fli6«o cGt/f{li6«o Jofkf/÷Joj;fosf] ;fy} Joj:yfkg If]qdf nfdf] ;dob]lv bvn ePsf k|ltli7t
JolQmTjx? /xg'ePsf] 5 .
 o; sDkgLsf] k|jGwkqdf Joj:yf eP cg';f/ ;+:yfks z]o/wgLx?nfO{ æsÆ ju{df pk;d'x s, v, u, 3, ª, r /
;j{;fwf/0f z]o/wgLx? -sd{rf/L / ;j{;fwf/0fx?_ nfO{ ævÆ ju{df ljefhg ul/Psf] 5 . h;dWo] hf/L k"FhLsf] &)
k|ltzt z]o/ æsÆ au{sf ;+:yfks z]o/wgL tyf #) k|ltzt ævÆ ju{sf ;j{;fwf/0fx? -sd{rf/Lx? ;d]t_ df lgisfzg
tyf laqmL u/L afF8kmfF8 ug]{ Joj:yf /x]sf] 5 .
Pgcf/Pg OGk|mf:6Sr/ P08 8]enkd]G6 lnld6]8 cGt{ut /x]sf] cfof]hgfx?sf] xfn;Ddsf] ;+lIfKt ljj/0f
sDkgLn] cfˆgf] p2]Zo adf]lhd bf]bL{ vf]nf hnljB't cfof]hgfsf] lgdf{0f ug]{ sDkgL lxdfnog kfj/ kf6{g/ ln=df xfn;Dd
?= #*,)#,%#,())÷–-cIf/]kL c¶lt; s/f]8 ltg nfv lqkGg xhf/ gf]} ;o dfq_ k|lt z]o/ ?= !))÷– b/sf #*,)#,%#( lsQf
z]o/ vl/b u/L pQm sDkgLsf] ;~rfns ;ldltdf ;d]t k|ltlglwTj ul//x]sf] 5 . ;f] cfof]hgf ;Fu ;DalGwt ;FlIfKt ljj/0fx?
lgDg adf]lhd /x]sf 5g\ .
8]enk/ lxdfnog kfj/ kf6{g/ lnld6]8
kl/of]hgf :yn ndh'Ë l:yt tTsflng l5l6, bf]w]gL tyf aG;f/ uf=lj=;
hl8t Ifdtf @& d]=jf
l8hfOg l8:rfh{ !%=@* m#÷s
;a]{ nfO;]G; hf/L ldlt @^ d], @))%
lu|8 sg]Szg ;Demf}tf & h'nfO{, @)!)
pTkfbg cg'dtL k|fKt ldlt & h'nfO{, @)!!
ljB't vl/b ljlqm ;Demf}tf ldlt !% h'g, @)!@
d'Vo l;len ;+/rgfsf] nflu 7]Ssf ;Demf}tf clk|n, @)!$
Aofkfl/s pTkfbg z'? x'g] ldlt #) gf]e]Dj/, @)@)
;'Vvfofddf pTkfbg x'g] phf{ @!=#^& Gwh
aiff{ofddf pTkfbg x'g] phf{ !@)=(%@ Gwh
cf}ift aflif{s phf{ pTkfbg !$@=#!( Gwh
lgdf{0f sfo{ z'? ldlt clk|n, @)!$
s'n kl/of]hgf nfut ? $,$(* ldlnog

;flgdf ldl8n tdf]/ xfO8«f]kfj/ lnld6]8 åf/f k|jl4{t ldl8n tdf]/ xfO8«f]kfj/ k|f]h]S6 &# d]ufjf6df o; sDkgLn] cfˆgf]
gfddf sfod /xg] u/L xfn ;Dd /sd ?= ^,$),)),)))÷– -cIf/]kL 5 s/f]8 rfln; nfv dfq_ k|ltz]o/ ? !))÷– sf
b/n] ^,$),))) yfg z]o/ vl/b u/]sf] 5 . o; cfof]hgf ;Fu ;DjlGwt ;+lIfKt ljj/0f lgDg adf]lhd /x]sf] 5 .

3
 8]enk/ ;flgdf ldl8n tdf]/ xfO8«f]kfj/ lnld6]8
kl/of]hgf :yn km'ËlnË, tfKn]h'Ë
hl8t Ifdtf &# d]=jf
l8hfOg l8:rfh{ &#=&! m#÷s
;a]{ nfO;]G; hf/L ldlt !% kmfNu'0f, @)^$
lu|8 sg]Szg ;Demf}tf @% kmfNu'0f, @)&!
pTkfbg cg'dtL k|fKt ldlt % h'g, @)!& -%$ d]=jf sf] nfuL_, #) gf]e]Da/ @)!* -!(
d]=jf sf] nfuL_
ljB't vl/b ljlqm ;Demf}tf ldlt @^ kf}if, @)&# -%$ d]=jf sf] nfuL_, !$ d+l;/, @)&% -!(
d]=jf sf] nfuL_
d'Vo l;len ;+/rgfsf] nflu 7]Ssf ;Demf}tf !@ clk|n, @)!*
Aofkfl/s pTkfbg z'? x'g] ldlt !# ;]K6]Da/, @)@! -%$ d]=jf= sf] nfuL_, h'nfO{ !&, @)@@ -
!( d]=jf= sf] nfuL_
;'Vvfofddf pTkfbg x'g] phf{ $^=$* Gwh
aiff{ofddf pTkfbg x'g] phf{ @^#=)* Gwh
cf}ift aflif{s phf{ pTkfbg #)(=%^ Gwh
lgdf{0f sfo{ z'? ldlt !* hgj/L, @)!(
s'n kl/of]hgf nfut ? !@,^*) ldlnog

:j]tuËf xfO{8«f]kfj/ P08 sG:6«S;g ln= åf/f lgdf{0fflwg lnv' hnljB't cfof]hgf @*=! d]ufjf6 df o; sDkgLn] cfˆgf] gfddf
sfod /xg] u/L xfn ;Dd ?=!),)),)),)))÷– -cIf/]kL bz s/f]8 dfq_ k|ltz]o/ ?= !))÷– sf b/n] !),)),))) yfg z]o/
vl/b u/]sf] 5 . o; cfof]hgf ;Fu ;DjlGwt ;FlIfKt ljj/0f lgDg adf]lhd /x]sf] 5 .
8]enk/ :j]tuËf xfO8«f]kfj/ P08 sG;6«S;g lnld6]8
kl/of]hgf :yn /fd]5fk lhNnf, tTsfnLg ;+}k' / ljh'nLsf]6 uf=lj=;
hl8t Ifdtf @*=! d]=jf
l8hfOg l8:rfh{ @(=&% m#÷s
;a]{ nfO;]G; hf/L ldlt !* h'g, @))*
lu|8 sg]Szg ;Demf}tf @% dfr{, @)!^
pTkfbg cg'dtL k|fKt ldlt !$ clk|n, @)!^
ljB't vl/b ljlqm ;Demf}tf ldlt @( l8;]Da/, @)!^
d'Vo l;len ;+/rgfsf] nflu 7]Ssf ;Demf}tf dfr{, @)!*
Aofkfl/s pTkfbg z'? x'g] ldlt ! l8;]Da/, @)@!
;'Vvfofddf pTkfbg x'g] phf{ #)=($ Gwh
aiff{ofddf pTkfbg x'g] phf{ !#(=*( Gwh
cf}ift aflif{s phf{ pTkfbg !&)=*$ Gwh
lgdf{0f sfo{ z'? ldlt clk|n, @)!*
s'n kl/of]hgf nfut ? %,%(% ldlnog

dflyNnf] d}n'Ë vf]nf hnljB't ln= åf/f k|jl4{t dflyNnf] d}n'Ë vf]nf hnljB't cfof]hgf !$=# d]ufjf6df o; sDkgLn] cfˆgf]
gfddf sfod /xg] u/L xfn ;Dd /sd ?= @,@%,)),)))÷ -cIf/]kL b'O{ s/f]8 klRr; nfv dfq_ k|ltz]o/ ? !))÷– sf b/n]
@,@%,))) yfg z]o/ vl/b u/]sf] 5 .

4
 8]enk/ dflyNnf] d}n'Ë vf]nf hnljB't lnld6]8
kl/of]hgf :yn pQ/uof ufpFkflnsf j8f g+= )!
hl8t Ifdtf !$=# d]=jf
l8hfOg l8:rfh{ #=%# m#÷s
;a]{ nfO;]G; hf/L ldlt !) kf}if, @)^#
lu|8 sg]Szg ;Demf}tf !% efb|, @)^&
pTkfbg cg'dtL k|fKt ldlt & r}q, @)&#
ljB't vl/b ljlqm ;Demf}tf ldlt @# efb|, @)^*
d'Vo l;len ;+/rgfsf] nflu 7]Ssf ;Demf}tf * kmfNu'0f, @)&%
Aofkfl/s pTkfbg z'? x'g] ldlt !^ c;f/, @)&*
;'Vvfofddf pTkfbg x'g] phf{ !#=!^% Gwh
aiff{ofddf pTkfbg x'g] phf{ ^^=%)$ Gwh
cf}ift aflif{s phf{ pTkfbg &(=^& Gwh
lgdf{0f sfo{ z'? ldlt @* h]i7 @)&^
s'n kl/of]hgf nfut ?=@,%)) ldlnog

o;sf ;fy} sDkgLn] cGo ljB't v/Lb ;Demf}tf eO{;s]sf] sDkgLx?;Fu /x]sf] nufgL cj;/x?nfO{ cjnf]sg u/]/ nufgL
ug{] k|lqmofdf /x]sf] 5 .

o; Pgcf/Pg OGk|mf:6Sr/ P08 8]enkd]G6 lnld6]8 sf] k|aGwkqsf] bkmf $ tyf lgodfjnLsf] lgod $ df pNn]v ul/P
adf]lhd sDkgL sfg"g tyf cGo k|rlnt sfg"gsf] cwLgdf /xL hnljB't pTkfbg sf/f]jf/ ug]{ o; sDkgLsf d'Vo p2]Zox?
b]xfo adf]lhd /x]sf] 5 M–
-s_ kfgL, tflko jfo', ;f}o{ cflb k|fylds phf{sf] ;|f]tsf] k|of]uaf6 ljB't zlQm pTkfbg u/L /fli6«o Pj+ cGt/f{li6«o ljB't
k|0ffnL k|of]u u/L k|;f/0f ug]{, u/fpg] . ;f] p2]Zo k'/f ug{sf] nflu cfjZos k/]df lgdf{0ffwLg jf lgdf{0f eO{;s]sf],
;+rfngdf cfPsf] jf gcfPsf] hnljB't jf ef}lts k"jf{wf/sf] kl/of]hgf ;+rfng ug{],u/fpg] .
-v_ pTkflbt ljB'tnfO{ IPMO (Independent Power Market Operator) sf] ¿kdf ljB't vl/b u/L cfk}mn] jf cGo
sDkgLnfO{ ljt/0f u/L ljB't pkef]QmfnfO{ ;]jf k'¥ofpg] .
-u_ ljB't pTkfbg, k|;f/0f tyf ljt/0f ;DaGwL l/;r{ -cg';Gwfg_, tflnd, k/fdz{ ;]jf k|bfg ug{] / cfjZos cGo sfo{x?
ug]{ . ljB't k|zf/0f nfO{gsf] lgdf{0f / ;+rfng ug{], u/fpg]
-3_ sDkgLsf] p2]Zo ;kmn ug{ ljefuLo :jLs[lt lnO{ ljb]zL nufgL tyf k|ljlw x:tfGt/0f P]g @)&% / o;sf] a]nfa]nfdf
x'g] ;+zf]wgsf] clwgdf /xL ljb]zL cf}Bf]lus tyf k|fljlws kmd{, sDkgLx¿sf] ;xof]u, k|fljlws Pj+ cGo ;xfotf lng],
k/fdz{ lng], ltgLx¿nfO{ sDkgLsf] sfddf ;l/s u/fpg], ltgLx¿;Fu ;Demf}tf ug]{ .
-ª_ ljleGg hnljB't kl/of]hgf, ko{6g, ;'?ª dfu{, /]n dfu{, /fhdfu{, xf]6n Joj;fo, ljdf, ;~rf/ If]q cflb If]qdf nufgL
ug]{, u/fpg] .
-r_ hnljB't cfof]hgf lgdf{0f ug]{ / cfjZos k/fdz{ ;]jf pknAw u/fpg] .
-5_ :jb]zL tyf ;DalGwt lgsfox¿af6 :jLs[lt lnO{ ljb]zL JolQm jf sDkgLx¿;Fu ;Demf}tf u/L lghL :jfldTjdf xfO8«f]kfj/
;DaGwL Design Drawing tyf lgdf{0f ;DaGwL sfd ug]{ / ljB't pTkfbg u/L ljlqm ljt/0f ug]{, u/fpg] .
-h_ ljB't pTkfbg ;DaGwL Micro-Hydro, Wind Power, Solar Power, / cGo gljs/0fLo (Renewable) pmhf{,
Diesel (Thermal) Power, Design ;DaGwL cfjZos k|fljlws k/fdz{ ;]jf (Engineering Consultancy
Service) lgdf{0f tyf lgl/If0f ;'kl/j]If0f ;]jf pknAw u/fpg] .
-em_ hnljB't pTkfbg ug{ cfjZos k/fdz{ ;]jf (Engineering Design Consultancy Service) lgl/If0f, ;'kl/j]If0f
;]jf (Construction Supervision Service) pknAw u/fpg] .
-`_ pTkfbg ul/Psf] ljB't k|rlnt sfg"g adf]lhd :jb]z tyf ljb]zdf ljqmL ljt/0f ug]{, u/fpg] .
-6_ ljleGg k|sf/sf OlGhlgol/Ë;Fu ;DalGwt cfof]hgfx¿sf] jftfj/0fLo k|efj d"NofÍg cWoog ug{ cfjZos ;]jf pknAw
ug]{, u/fpg] .

5
-r_ ;+ul7t ;++:yfsf] s'g} ;xfos sDkgL ePdf ;f] ;xfos sDkgLsf] gfd, Oltxf; / To;sf d'Vo p2]Zox?sf ;fy} To;df
ePsf] nufgLsf] c+z -k|ltztdf_ M ;f] gePsf]
-5_ b]xfosf s'/fx? ;d]t pNn]v ug'{kg]{ -nfu" x'g] xb;Dd_
-!_ ;+ul7t ;++:yfn] pTkfbg ug]{ j:t' jf k|bfg ug]{ ;]jfx?
o; sDkgLn] k|bfg ug]{ ;]jfx? - hnljB't ;fy} cGo k'jf{wf/ ;DalGw cfof]hgfx?sf] lgdf{0f, ;+rfng / Joj:yfkg ug]{
sDkgLx?df z]o/ jf C0f nufgL ug]{ .
-@_ k|of]u ePsf] jf ul/g] k|ljlw M o; sDkgLsf] d'Vo p2]Zo hnljB't pTkfbg tyf cGo k'jf{wf/ ;DalGw sfo{ ug{]
sDkgLx?df nufgL ug]{ x'Fbf s'g} k|ljlw k|of]u cfjZos gePsf] .
-#_ s'g} j|fG8g]d, k|ltlnlk clwsf/, 6«]8dfs{, Ohfhtkq, k|fljlws ;xof]u ;Demf}tf / ljQLo ;+:yf;Fu ;DalGwt af}l4s
;DklQ xs clwsf/ M ;f] gePsf] .
-$_ ;+ul7t ;++:yfn] cf]u6]sf] ahf/ If]qM xfn;Dd :jk'FhLsf] ?kdf nufgL u/]sf] lxdfnog kfj/ kf6{g/ lnld6]8 åf/f k|al4{t
bf]bL{ vf]nf hnljB't cfof]hgf @& d]=jf=, ;flgdf ldl8n tdf]/ xfO8«f]kfj/ lnld6]8 åf/f k|al4{t ldl8n tdf]/ hnljB't
cfof]hgf &# d]=jf=,:j]tuËf xfO8«f]kfj/ P08 sG;6«S;g lnld6]8 åf/f k|al4{t tNnf] lnv' hnljB't cfof]hgf @*=! d]=jf=,
dflyNnf] d}n'Ë vf]nf hnljB't lnld6]8 åf/f k|al4{t dflyNnf] d}n'Ë vf]nf hnljB't cfof]hgf !$=# d]=jf= sf hnljB't
cfof]hgfx? /x]sf 5g\ . cGo cfof]hgfx? klg 5gf}6sf] qmddf /x]sf 5g\ .
-%_ gofF pTkfbg tyf ;]jf ;DaGwL of]hgfM yk gofF hnljB't pTkfbg, k|zf/0f tyf ljt/0fsf ;fy} cGo k'jf{wf/ ;DalGw
cfof]hgf lgdf{0f ug{] sDkgLx?df nufgL ug]{ .
-^_ pTkfbg tyf ;]jfsf] k|d'v ahf/ / To;sf] dfu / laqmL ljt/0fsf] tl/sf M phf{ tyf cGo k'af{wf/ ;DalGw cfof]hgf
lgdf{0f ug]{ sDkgLx?df nufgL ug]{ / ;f] jfkt nfef+z k|fKt ug]{ .
-!)_ cg';Gwfg tyf ljsf; M nfu' gx'g] .
-!!_ ljut !@ dlxgfsf] cjlwdf ;+:yfsf] ;~rfngdf c;/ kg]{ u/L ePsf] jfwf Jojwfg M ;f] gePsf] .
-!@_ dhb'/ ;+u7g;Fusf] ;DaGw / ljutdf s'g} cf}Bf]lus ljjfb ePsf] eP, ;f] ;DaGwL ljj/0f M ;f] gePsf] .
-!#_ ahf/, k|lt:kwf{ / cGo ;dfg pBf]ux?aLr ;+ul7t ;+:yfsf] l:yltM hnljB't pTkfbg, k|;f/0f tyf ljt/0fsf ;fy}
cGo k'jf{wf/ ;DalGw cfof]hgfx?sf] lgdf{0f, ;+rfng / Joj:yfkg ug]{ sDkgLx?df nufgL ug]{ p2]Zon] :yflkt ;+:yf ePsf]
x'Fbf g]kfnL nufgLstf{sf] nflu of] nfebfos / pko'Qm If]q /x]sf] 5 .
-!$_ k|d'v u|fxsx?sf] ljj/0f -h:t}–;++:yfsf] s"n jflif{s sf/f]jf/df !)Ü jf ;f] eGbf a9Ln] of]ubfg ug{] jf Joj;fosf]
nflu ;++:yf s'g} k|d'v u|fxs;Fu lge{/ 5 eg] t\t;DaGwL ljj/0f_ M nfu' gx'g] .
-!%_ k|d'v ;Knfo;{x?sf] ljj/0f -h:t}– ;+:yfsf] s"n sf/f]af/df !)Ü jf ;f] eGbf a9Ln] of]ubfg ug]{ ;Knfo;{ jf Joj;fosf]
nflu ;+ul7t ;+:yf s'g} k|d'v ;Knfo;{;Fu lge{/ 5 eg] tt\;DaGwL ljj/0f_ M nfu' gx'g] .

v_ ;DklQsf] ljj/0f M
-s_;+ul7t ;+:yfsf] pks/0f -KnfG6_ tyf cGo ;DklQ /x]sf] :yfg / pks/0f tyf ;DklQsf] cj:yf M
sDkgLsf] pks/0f -KnfG6_ tyf cGo ;DklQ /x]sf] :yfg / pks/0f tyf ;DklQsf] cj:yf lgDg adf]lhd /x]sf] 5 M
x|f; sl§ @)&^ clZjg
pks/0f -KnfG6_ tyf cGo
l;= -clZjg d;fGt;Ddsf]
g= ljj/0f k/n d"No d;fGt;Dd_ ckl/is[t d"No ;DklQ /x]sf] :yfg
rfjlxn, sf7df8f}+ . kmlg{r/,
kmlg{r/, lkmSr;{ / lkmSr;{ / sfof{no pks/0fx?
!= sfof{no pks/0fx? *,(#,*%*÷— &,$&,()!÷— !,$%,(%& ÷— sfof{nodf oyfjt /x]sf] .
lxdfnog kfj/ kf6{g/ lnld6]8
-@& d]=jf= bf]bL{ vf]nf hnljB't
cfof]hgf_ sf] ;+:yfks z]o/df
hnlaB't sDkgLdf nufgL . ;f] sDkgL g]kfn :6s
@= nufgL 38,03,53,900÷— 38,03,53,900÷— PS;r]Ghdf ;'lrs[t ePsf] .
;flgdf ldl8n tdf]/ xfO8«f]kfj/
ln -ldl8n tdf]/ xfO8«f]kfj/
k|f]h]S6 &# d]=jf=_ sf] ;+:yfks
z]o/df nufgL . ;f] sDkgL
hnlaB't sDkgLdf g]kfn :6s PS;r]Ghdf xfn;Dd
#= nufgL 6,40,00,000÷— 6,40,00,000÷— ;'lrs[t gePsf] .
:j]tuËf xfO8«f]kfj/ P08
hnlaB't sDkgLdf sG;6«S;g lnld6]8 -tNnf] lnv'
$= nufgL 10,00,00,000÷— 10,00,00,000 ÷— xfO8«f]kfj/ k|f]h]S6 @*=! d] jf_
6
 sf] ;+:yfks z]o/df nufgL . ;f]
sDkgL g]kfn :6s PS;r]Ghdf
xfn;Dd ;'lrs[t gePsf] .
dflyNnf] d}n'Ë vf]nf hnljB't
ln= -dflyNnf] d}n'Ë vf]nf
xfO8«f]kfj/ k|f]h]S6 -!$=# d] jf_
sf] ;+:yfks z]o/df nufgL . ;f]
hnlaB't sDkgLdf sDkgL g]kfn :6s PS;r]Ghdf
%= nufgL 2,25,00,000÷— 2,25,00,000÷— xfn;Dd ;'lrs[t gePsf] .
hnlaB't nufgL tyf ljsf;
sDkgL lnld6]8 sf] ;j{;fwf/0f
z]o/df nufgL . ;f] sDkgL
g]kfn :6s PS;r]~hdf ;'lrs[t
ePsf] . ;f] sDkgLaf6 %,^$*
lsQf af]gz z]o/ ;d]t k|fKt . -
hnlaB'tdf nufgL xfn o; sDkgLsf] s'g} k|sf/sf]
^= ug]{ sDkgLdf nufgL 56,48,000÷— 56,48,000÷— z]o/ :jfldTj g/x]sf] ._
d'2lt vftfdf ‘s’ ju{sf] jfl0fHo a}Fsx?df
&= nufgL 21,83,91,000÷— 21,83,91,000÷— 5f]6f] cjlwsf] d'2tLdf /x]sf] .
s'n &(,!),#*,*%&÷—

-v_ a'Fbf -s_ df pNn]lvt ;DklQ ;+ul7t ;+:yfsf] cfˆg} ;DklQ xf] of lnhdf lnPsf], lnhdf lnPsf] eP lnhsf] cjlw
-ldlt ;d]t pNn]v ug'{kg]{_M pQm a'Fbfdf pNn]lvt ;DklQ sDkgLsf] cfkm\g} xf] .
-u_ olb ;DklQ ;+ul7t ;+:yfsf] :jfldTjdf /x]sf] ePdf pQm ;DklQ dfly s'g} lnog jf df]6{u]h eP ;f] ;DaGwL ljj/0fM
;f] gePsf] .
-3_ ljj/0fkq af]8{df k]z ul/Psf] ldltdf ;+ul7t ;+:yfsf] ;DklQsf] lstfjL d"No / ahf/ d"No aLr km/s ePdf ;f] sf]
ljj/0fM
k/n df]ndf lgod cg';f/ ug'{kg]{ x|f; s§L u/L n]vfdfg cg';f/ afFsL /x]sf] jf:tljs ;DklQnfO{ ;DklQsf] ?kdf /flvPsf]
5 . sDkgLsf] z]o/df ePsf] nufgL dWo] hnljB'Q nufgL tyf ljsf; sDkgL ln= sf] z]o/ -^@,!@* lsQf_ dfq sf/f]af/
ug{ of]Uo /x]sf] 5 . ;f] ;Dk"0f{ z]o/sf] ahf/ d"No cfhsf] d"Nodf sDkgLsf] lstfaL d"NoeGbf a9L /x]sf] 5 .
-ª_ ;DklQsf] d"Nof+sg ul/Psf] tl/sf ;DaGwL ljj/0fM nfu' gx'g] .
u_ efjL of]hgf tyf /0fgLltM
-s_ Joj;fo÷;]jfsf] j[l4sf nflu ;+:yfsf] efjL of]hgf / To:tf] of]hgfsf] k|lfKtsf nflu rflng] ;doj4 /0fgLltM
o; sDkgLn] hnljB't pTkfbgdf s]lGb|t sDkgLdf C0f jf z]o/ kF"hL nufgL ul/ k|ltkmn k|fKt ug]{ p2]Zon] ljleGg k|:tfljt
hnljB't cfof]hgfsf] bIf ljz]if1åf/f lj:t[t Aoj;flos ;DefAotfsf] cWoog u/fO{ k|fKt lgisif{sf] cfwf/df nufgL ;DjlGw
lg0f{o ub]{ cfPsf] 5 ;fy} eljiodf klg o;} /0fgLltnfO{ cjnDag ub}{ k'jf{wf/ cfof]hgf Pj+ /fli6«o uf}/jsf cfof]hgf lgdf{0f
ug{] sDkgLx?df nufgL ug]{ 5 .
sDkgLn] cfˆgf] Joj;fo÷;]jfsf] a[l4sf nflu rfNg] efjL of]hgf / To:tf] of]hgfsf] k|flKtsf nflu rflng] ;doj4 /0fgLlt
lgDgfg';f/ 5g\ .
 sDkgLn] cfkm\gf] p2]Zo k|flKtsf nflu Joj;flos ?kdf ;DefJo b]lvPsf] hnljB't cfof]hgf lgdf{0f ug{] sDkgLx?df
nufgL ug]{ .
 sDkgLsf] p2]Zo k|flKtsf nfuL /fli6«o tyf cGt/f{li6«o lgsfox?;Fu ;Dks{ lj:tf/ ub}{ hfg] .
 sDkgLsf] sf/f]jf/nfO{ lgoldt ?kdf a[l¢ ub}{ nufgLstf{nfO{ oyf]lrt k|ltkmn lbg k|oTgzLn /xg] .
 cGt/fli6«o Funding Agencies / Investors af6 lb3{sflng cGt/f{li6«o sf]if cfslif{t ug{ kxn ug]{ sfo{nfO{ lg/Gt/tf
lbg], nufgL a}7sx? cfof]hgf ug]{ / ;xefuL x'g] .
 a}b]lzs /f]huf/Ldf uPsf g]kfnLx?nfO{ ;d]6\g] ul/ /]ld6\ofG; xfO8«f]sf] cjwf/0ff dfkm{t nufgL h'6fO{ demf}nf tyf
7'nf hnljB't cfof]hgfx?df nufgL ug{ cfjZos k"jf{wf/x? tof/ ug]{ / sDkgLsf] tkm{af6 cfjZos nufgL ug]{ .
-v_ k|ltikwf{, ljBdfg cfly{s l:ylt / ;dfg lsl;dsf] pBf]usf] l:yltsf] cfwf/df ;+ul7t ;+:yfsf] Joj;fosf] eljio M
o; sDkgLn] d"Vo ?kdf hnljB't cfof]hgfsf] lgdf{0f tyf ;~rfng ug{] sDkgLx¿df nufgL ug{] ePsfn] g]kfn ;/sf/
ljB't ljsf; ljefuaf6 ndh'Ë lhNnfl:yt bf]bL{ vf]nf hnljB't cfof]hgf -@&=) d]=jf=_ sf] ljB't pTkfbgsf] cg'dlt–kq
k|fKt u/L g]kfn ljB't k|flws/0f;Fu cfof]hgfn] pTkfbg ug{] hnljB'tsf] vl/b–laqmL ;DaGwL ;Demf}tf ;d]t u/L cfof]hgfsf]
ef}lts ;+/rgfx¿sf] lgdf{0f sfo{ k|a4{s sDkgL lxdfnog kfj/ kf6{g/ ln=n] cuf8L a9fO/x]sf] 5 .
7
lxdfnog kfj/ kf6{g/ ln=sf] z]o/df xfn;Dd o; sDkgLn] ?=#*,)#,%#,())÷– -c¶lt; s/f]8 ltg nfv lqkGg xhf/ gf}
;o dfq_ nufgL u/]sf] 5 . bf]bL{ vf]nf hnljB't cfof]hgfsf] ef}lts ;+/rgfx¿sf] lgdf{0f sfo{df xfn;Dd ePsf] k|ult
;DaGwL ;+lIfKt ljj/0f b]xfo adf]lhd /x]sf] 5 .

8]enk/ lxdfnog kfj/ kf6{g/ lnld6]8

kl/of]hgf :yn ndh'Ë l:yt tTsflng l5l6, bf]w]gL tyf aG;f/ uf=lj=;
hl8t Ifdtf @& d]=jf=
l8hfOg l8:rfh{ !%=@* m#÷s
;a]{ nfO;]G; hf/L ldlt @^ d], @))%
lu|8 sg]Szg ;Demf}tf & h'nfO{, @)!)
pTkfbg cg'dtL k|fKt ldlt & h'nfO{, @)!!
ljB't vl/b ljlqm ;Demf}tf ldlt !% h'g, @)!@
d'Vo l;len ;+/rgfsf] nflu 7]Ssf ;Demf}tf clk|n, @)!$
Aofkfl/s pTkfbg z'? x'g] ldlt !@ clk|n, @)@)
;'Vvfofddf pTkfbg x'g] phf{ @!=#^& Gwh
aiff{ofddf pTkfbg x'g] phf{ !@)=(%@ Gwh
cf}ift aflif{s phf{ pTkfbg !$@=#!( Gwh
lgdf{0f sfo{ z'? ldlt clk|n, @)!$
s'n kl/of]hgf nfut ? $,$(* ldlnog

:j]tuËf xfO{8«f]kfj/ P08 sG:6«S;g ln= åf/f lgdf{0fflwg hnljB't cfof]hgf tNnf] lnv' hnljB't cfof]hgf @*=! d]ufjf6df
o; sDkgLn] cfˆgf] gfddf sfod /xg] u/L xfn ;Dd ?=!),)),)),)))÷– -cIf/]kL bz s/f]8 dfq_ k|ltz]o/ ?= !))÷–
sf b/n] !),)),))) yfg z]o/ vl/b u/]sf] 5 . pQm sDkgL;Fu ePsf] låklIfo ;dembf/L -MOU_ cg'?k yk nufgL
ug'{kg{] 5}g .

;flgdf ldl8n tdf]/ xfO8«f]kfj/ ln= åf/f k|jl4{t ;flgdf ldl8n tdf]/ xfO8«f]kfj/ k|f]h]S6 &# d]ufjf6df o; sDkgLn]
cfˆgf] gfddf sfod /xg] u/L xfn ;Dd ?= ^,$),)),)))÷– -cIf/]kL 5 s/f]8 rfln; nfv dfq_ k|ltz]o/ ? !))÷– sf
b/n] ^,$),))) yfg z]o/ vl/b u/]sf] 5 .

dflyNnf] d}n'Ë vf]nf hnljB't lnld6]8åf/f k|jl4{t dflyNnf] d}n'Ë vf]nf hnljB't cfof]hgf !$=# d]ufjf6df o; sDkgLn]
cfˆgf] gfddf sfod /xg] u/L xfn ;Dd /sd ?= @,@%,)),)))÷– -cIf/]kL b'O{ s/f]8 klRr; nfv dfq_ k|ltz]o/ ? !))÷–
sf b/n] @,@%,))) yfg z]o/ vl/b u/]sf] 5 . ;fy} pQm sDkgL;Fu ePsf] låklIfo ;dembf/L -MOU_ cg'?k eljiodf
yk nufgL ug]{5 .

o; sDkgLn] ljB't v/Lb ;Demf}tf eO{;s]sf sDkgLx?df nufgLsf] Joj;flos ;+efJotf ljZn]if0f ug{ ;f] sDkgLx?;+u
cfjZos ljj/0f lnO{ d"NofÍg sfo{ cuf8L a9fO{;s]sf] 5 . ;f] d"NofÍg sfo{df nufgL lglxt hf]lvd, nufgLsf] k|ltkmn,
/fli6«o :t/df ;f] sDkgLsf] of]ubfg / cGo ljljw kIfx?nfO{ Wofgk"j{s cWoog ul/g]5 .

t;y{ b]zdf dfu eP adf]lhd ljB't cfk"lt{sf] sdL /x]sf] xfnsf] k[i7e"lddf hnljB't cfof]hgf lgdf{0f ug{' cfkm}df ;x|flgo
sfd ePsf]n] o; If]qdf cGo ;dfg lsl;dsf pBf]u;Fu k|lt:kwf{ g/xg] xF'bf o; sDkgLn] hnljB't tyf cGo k'jf{wf/
nufgLsf] If]qdf cfkm\gf] cnu klxrfg :yflkt ug{ ;kmn x'g]5 . g]kfndf hnljB't pTkfbgsf] k|r'/ ;Defjgf /x]sf] ePtf
klg jt{dfg cj:yfdf ljB't dfu / k"lt{ aLr cGt/ /x]sf] 5 . hnljB't cfof]hgfx?sf] kof{Kt ljsf; x'g ;s] ;f]
hnljB'tnfO{ g]kfn nufot l5d]sL d'n'sx?df ;d]t lgof{t ug{ ;lsG5 . To;}n] xfnsf] cj:yfdf o; Joj;fodf k|lt:kwf{sf]
cj:yf ;[hgf x'g ;Sg] ;Defjgf Hofb} Go"g /x]sf] 5 . o;y{ sDkgLn] cfkm\gf] Joj;fosf] lg/Gt/tfsf nflu cuf8L a9fPsf
hnljB't cfof]hgfx?sf] klxrfg tyf ljsf; ubf{ cGo j:t'sf] pTkfbgdf h:tf] k|lt:kwf{ ug'{ kb}{g .

8
 3_;~rfns ;ldltsf] ;+/rgf / k|ltlglwTj ;DaGwL Joj:yf
;+rfns ;ldltsf] ;+/rgf, ;+rfnsx?sf] of]Uotf / k|ltlglwTj tyf ;+rfns x'g'sf] nflu lng'kg]{ Go"gtd z]o/ ;+Vof
;DaGwL Joj:yf M
o; sDkgLsf] lgodfjnLsf] lgod @& df ePsf] Joj:yf cg';f/ !! -P3f/_ hgf ;~rfns /x]sf] Ps ;~rfns ;ldlt
b]xfo adf]lhd x'g]5 .++

;+:yfks ;d"xsf z]o/wgLx?af6 lgjf{lrt ^ -5_ hgf

;j{;fwf/0f ;d"xsf z]o/wgLx?af6 lgjf{lrt # -tLg_ hgf
:jtGq ;~rfns @ -b'O_{ hgf
hDdf !! -P3f/_ hgf

;~rfnsx?sf] sfo{sfn $ -rf/_ jif{sf] x'g]5 .

o; sDkgLsf]] lgodfjnLsf] lgod @* df Joj:yf eP cg';f/ sDkgLsf] ;~rfnssf] kbdf lgo'Qm x'gsf] nflu s'g} klg
z]o/wgLn] cfˆgf] gfddf !,))) -Ps xhf/_ lsQf z]o/ lnPsf] x'g'kg]{5 . t/ :jtGq ;~rfns / ;+ul7t ;+:yfsf] k|ltlglwTj
ug]{ ;~rfnssf] xsdf of] Joj:yf nfu' x'g] 5}g .
$=k"FhL ;+/rgf ;DaGwL hfgsf/LM
-s_ clws[t, hf/L tyf r'Qmf k"FhL / ;++:yfsf] :yfkgf kZrft ;f] df kl/jt{g ePsf] eP tt\ ;DaGwL ljj/0f M
clws[t k"FhL M sDkgLsf] clws[t k"FhL ?= %,)),)),)),))).– -cIf/]kL kfFr ca{ dfq_ /x]sf]] 5 . pQm k"FhLnfO{ ?=!)).— sf
b/n] %,)),)),))) -kfFr s/f]8_ yfg ;fwf/0f z]o/df ljefhg ul/Psf] 5 .

hf/L k"FhL M sDkgLsf] tTsfn hf/L ug]{ z]o/ k"FhL ? 1,13,26,82,100.– -cIf/]kL Ps ca{ t]x| s/f]8 5lAa; nfv aof;L xhf/
Ps ;o dfq_ /x]sf] 5 . pQm k"FhLnfO{ ?=!)).— sf b/n] 1,13,26,821 -Ps s/f]8 t]x| nfv 5lAa; xhf/ cf7 ;o PSsfO;_
yfg z]o/df ljefhg ul/Psf] 5 .

r'Qmf k"FhLM xfn sDkgLsf] r'Qmf k"FhL ?= &(,@*,&&,%))÷– -cIf/]kL pgfGc;L s/f]8 c¶fO{; nfv ;txQ/ xhf/ kfFr ;o
dfq_ /x]sf] 5 . pQm k"FhLnfO{ ?=!)).— sf b/n] &(,@*,&&% -pgfGc;L nfv c¶fO{; xhf/ ;ft ;o krxQ/ dfq_ yfg
;fwf/0f z]o/df ljefhg ul/Psf] 5 .
;j{;fwf/0fsf] nflu o; ljj/0fkq dfkm{t ? 33,98,04,600÷—-cIf/]kL t]lQ; s/f]8 cG7fGgAa] nfv rf/ xhf/ 5 ;o ?k}+of
dfq_ a/fa/sf] z]o/ lgisfzg u/] kZrft sDkgLsf] r'Qmf k"FhL ? 1,13,26,82,100.– -cIf/]kL Ps cj{ t]x| s/f]8 5lAa;
nfv aof;L xhf/ Ps ;o dfq_ x'g]5 .

;+:yfsf] :yfkgf kZrft\ clws[t, hf/L Pj+ r'Qmf k'FhLdf lgDg adf]lhd kl/jt{g ePsf] 5 M

qm=;+ cf= j= clws[t k"FhL Hff/L k"FhL r'Qmf k"FhL

1 2069/070 ?= 5,00,00,00,000 ÷— ?= 5,00,00,00,000 ÷— ?= 24,75,29,038÷—
2 2070/ 071 ?= 5,00,00,00,000 ÷— ?= 5,00,00,00,000 ÷— ?= #(,*#,#*,(**|÷—
3 2071/072 ?= 5,00,00,00,000 ÷— ?= 5,00,00,00,000 ÷— ?= 55,13,12,900 ÷—
4 2072/073 ?= 5,00,00,00,000 ÷— ?= 5,00,00,00,000 ÷— ?= 55,14,12,900 ÷—
5 2073/074 ?= 5,00,00,00,000 ÷— ?= 1,09,77,76,300÷— ?= 73,56,98,900 ÷—
6 2074/075 ?= 5,00,00,00,000 ÷— ?= 1,13,26,82,100 ÷— ?= 79,28,77,500 ÷—
-v_ lgisfzg kl5sf] r'Qmf k"FhL -;d"xs[[t ul/Psf] cj:yfdf ;f]xL cg'?k_ M
;fwf/0f z]o/ lgisfzg u/L afF8kmfF8 u/] kZrft\ x'g] sDkgLsf] r'Qmf k"FhLsf] ;+/rgf b]xfo adf]lhd /x]sf] 5 M

9
 k"FhL
;fwf/0f e'QmfgL
;d"x z]o/wgLx? k|ltzt r'Qmf /sd -?=_
z]o/ ;+Vof k|ltzt
-Ü_
s ;+:yfks z]o/wgLx? &(,@*,&&% &) Ü &(,@*,&&,%))÷– ztk|ltzt
v
;j{;fwf/0f z]o/wgLx? -sd{rf/L 33,98,046 #) Ü 33,98,04,600÷— Æ
;lxt_
hDdf 1,13,26,821 !))Ü 1,13,26,82,100.– ztk|ltzt
gf]6 M ;j{;fwf/0fx?nfO{ laqmL ul/g] z]o/ /sd ?= 33,98,04,600÷– r'Qmf x'g afFsL /x]sf] 5 .
-u_ z]o/ lk|ldod vftf -lgisfzg k"j{ / lgisfzg kZrft\_
lgisflzt z]o/ lk|ldoddf geO{ c+lst d"Nodf hf/L ul/Psf] x'Fbf z]o/ lk|ldod vftfsf] cfjZostf g/x]sf] .
%=;+:yfks÷;~rfns ;DaGwL hfgsf/L M
s_ ;+:yfks÷;~rfnssf] k[i7e"ldM
-s_ cfwf/e"t z]o/wgLx? tyf ;~rfnsx?sf] gfd, kb, pd]/, /fli6«otf, 7]ufgf, z]o/ :jfldTj, z}lIfs of]Uotf, cg'ej /
k|:tfljt Jofkf/÷Joj;fodf cg'ej M

cfwf/e"t z]o/wgLx?sf] ljj/0fM

z]o/ z}lIfs cg'ej -;DalGwt jf
qm= ;++= gfd kb pd]/ /fli6«otf 7]ufgf :jfldTj of]Uotf cGo_
@% aif{ eGbf al9 ;do
b]lv /fli6«o tyf
cGt/f{li6«o If]qdf ;kmn
pBdLsf] ?kdf kl/lrt,
u}x| cfjfl;o g]kfnL
;+3sf] k'j{ cWoIf, /l;of
l:yt 6]Sgf]NofG8 sDkgL
ln= df 8fO/]S6/ tyf
;fem]bf/sf] ?kdf cf7
aif{sf] cg'ea, k|wfgdGqL
dftxtsf] cfly{s k/fdz{
kl/ifb\df ;b:osf] ?kdf
>L hLjgfy sfo{sf/L
!= %@ g]kfnL lrtjg *),^$# :gftsf]Q/ ;g\ @)!! df lgo'Qm,
nfld5fg] cWoIf
;flgdf xfO8«f]kfj/ ln=,
d]8Ls]o/ g]zgn xl:k6n
P08 l/;r{ ;]G6/ ln=,
;flgdf a}+s ln=, sflGtk"/
6]lnlehg g]6js{ k|f=ln=,
sflGtk"/÷PSdL
OlGhlgol/Ë sn]h, ;f]kfg
dlN6kn, xf]6n csfdf
k|f=ln= / l6«k O{g xf]6N;
hd{gLdf cfj¢, k|jn
hg>L kbs af6 lje'lift
.
Pgcf/Pg
ci6«]lnof xfO8«f]
@= u|'k k|f=ln . ci6«]lnof ^%*,@^@ nfu' gx'g]

10
 g]kfn OGe]i6d]G6
#= sDkgL cd]l/sf #$!,%)% nfu' gx'g]
;flgdf dfO{ xfO8«f]kfj/
ln=, ;flgdf nfO{km
OG:of]/]G; ln= df
;+:yfks z]o/wgL, xªsª
l:yt xf]ln8] 6«fen P08
6';{ ln= df ;+UnUg,
8f]8kfgL 86sddf
k|aGws, s]=Pd=O{=
kmfOgfG; ln= sf]
;+:yfks, ;g\ @)!# b]vL
xªsªsf] nflu
>L s[i0f k|;fb PkmPgl;l;cfO{ sf] dfgfy{
$= kf08] ;+:yfks %# g]kfnL c3f{vfFrL !)&,%@$ :gfts b't .
cy{ljb\, cGt/fli6«o >lds
;+u7gdf cfly{s
;Nnfxsf/, sf7df08f}+
ljZjljßfno cGt{ut
zflGtrf]s, :s'n ckm Dofg]hd]G6df
%= >L ljZjgfy kf}8]n ;+:yfks $$ g]kfnL lrtjg !)&,%@$ ljBfjfl/wL sfo{/t .
HffOsf l/;r{ OlG:6Ro'6sf
zf]wstf{, xfn xfj{8
ljZjljßfnodf Visiting
Scholar, ;'s'af
ljZjljßfno, hfkfgdf
;xk|fWofkssf ?kdf
^= >L sdn nfld5fg] ;+:yfks #* g]kfnL lrtjg !)&,%@$ ljBfjfl/wL sfo{/t .
lacf/ OG6/g]zgn k|f=
&= >L ljgf]b s'Fj/ ;+:yfks $& g]kfnL sf]l/of !)&,%@$ P;=Pn=;L ln= sf ;+:yfks .
>L s]zj k|;fb lxdfno OGe]i6d]G6,
*= ;fksf]6f ;+:yfks $& g]kfnL lrtjg !)&,%@$ :gfts c:6«]lnofdf sfo{/t .
g]kfndf ;/sf/L ;]jfdf
!) aif{ eGbf a9Lsf]
cg'ea. Hfkfgdf !& aif{
b]lv cGt/f{li6«o
Aofkf/df ;+nUg .
l6=So'=Pd OG6/g]zgn
>L pbo /fh sDkgL lnld6]8sf
(= sF8]n ;+:yfks %) g]kfnL lrtjg !)&,%@$ :gftsf]Q/ ;+:yfks .
;fpbg{ qmz s]o/ NSW
>LdtL pld{nf & Act Careers df
!)= pk|]tL ;+:yfks $@ g]kfnL df]/Ë !)&,%@$ :gftsf]Q/ sfo{/t .
u}x| cfjfl;o g]kfnL
;+3sf jt{dfg cWoIf,
>L s'df/ k|;fb hd{g l:yt xf]6n Pe/]i6
!!= kGt ;+:yfks $# g]kfnL uf]/vf *),^$# :gfts k|mfGSkm6{sf ;+:yfks .

11
 u}x| cfjfl;o g]kfnL
;+3sf jt{dfg
sf]iffWoIf, hfkfg l:yt
l;6L PS;k|]; dlg
6«fG;km/ df cWoIf, l;6L
PS;k|]; dlg 6«fG;km/
>L dx]z s'df/ k|f=ln df ;~rfns,
!@= ;+:yfks $* g]kfnL kj{t *),^$# :gftsf]Q/
>]i7 tf]gfg\ sDkgL ln= df
cWoIf, ;]G6/ km/ kfj/
8]enkd]06 k|f=ln df ;g\
@))* b]vL ;~rfns,
xf8«f]kfj/ tyf ljQLo
If]qdf !% aif{ eGbf jl9sf]
cg'ea .
nfdf] ;do b]lv /fli6«o
tyf cGt/f{li6«o If]qdf
;kmn pBdLsf] ?kdf
kl/lrt, u}x| cfjfl;o
g]kfnL ;+3sf] ;+:yfks
cWoIf, l8=P;=;L= -8fS6/
ckm ;fOG;_, d]l8l;6L
xl:k6n, ;flgdf
xfO8«f]kfj/ k|f=ln=,
!#= >L pk]Gb| dxtf] ;+:yfks ^# g]kfnL l;/fxf *),^$# ljBfjfl/wL
d]8Ls]o/ g]zgn xl:k6n
P08 l/;r{ ;]G6/ ln=,
;flgdf a}+s ln=, sflGtk"/
6]lnlehg g]6js{ k|f=ln=,
sflGtk"/÷ PSdL
OlGhlgol/Ë sn]h,
;fljssf] :6\of088{
kmfOgfG; / ;f]kfg
dlN6kndf cfj¢ .

;~rfnsx?sf] ljj/0f M
qm= pd] z]o/ z}lIfs
Gffd kb /fli6«otf 7]ufgf cg'ej -;DalGwt jf cGo_
;+= / :jfldTj of]Uotf
@% aif{ eGbf al9 ;do b]lv
/fli6«o tyf cGt/f{li6«o
If]qdf ;kmn pBdLsf] ?kdf
kl/lrt, u}x| cfjfl;o g]kfnL
;+3sf] k'j{ cWoIf, /l;of
>L hLjgfy sfo{sf/L l:yt 6]Sgf]NofG8 sDkgL ln=
!= %@ g]kfnL lrtjg *),^$# :gftsf]Q/
nfld5fg] cWoIf df 8fO/]S6/ tyf ;fem]bf/sf]
?kdf cf7 aif{sf] cg'ea,
k|wfgdGqL dftxtsf] cfly{s
k/fdz{ kl/ifb\df ;b:osf]
?kdf ;g\ @)!! df lgo'Qm,
;flgdf xfO8«f]kfj/ ln=,
12
 d]8Ls]o/ g]zgn xl:k6n
P08 l/;r{ ;]G6/ ln=,
;flgdf a}+s ln=, sflGtk"/
6]lnlehg g]6js{ k|f=ln=,
sflGtk"/÷PSdL OlGhlgol/Ë
sn]h, ;f]kfg dlN6kn,
xf]6n csfdf k|f=ln= / l6«k
O{g xf]6N; hd{gLdf cfj¢,
k|jn hg>L kbs af6
lje'lift .
u}x| cfjfl;o g]kfnL ;+u7g
sf] k'j{ cWoIf, g]kfnsf]
tkm{af6 ci6«]lnofsf]
leS6f]l/ofdf ;g\ !((& b]vL
@))) ;Dd dfgfy{ sG;'n/
hg/n, /fli6«o tyf
cGt/f{li6«o Joj;fodf !%
@= >L z]if 3n] ;+rfns ^@ g]kfnL ci6«]lnof %#,&^@ ljBfjfl/wL aif{ eGbf al9sf] cg'ej,
ci6«]lnof l:yt d]nag{
OlG:6Ro'6 ckm 6]Sgf]nf]hL
k|f=ln df ;g\ !((^ b]vL
k|d'v sfo{sf/L clws[t tyf
;~rfns, PdcfO6L u|'k
kmfpG8]zg ci6«]lnof ln= df
cWoIf,
;flgdf dfO{ xfO8«f]kfj/ ln=,
;flgdf nfO{km OG:of]/]G; ln=
df ;+:yfks z]o/wgL, xªsª
l:yt xf]ln8] 6«fen P08 6';{
>L s[i0f k|;fb ln= df ;+nUg, 8f]8kfgL
#= ;+rfns %# g]kfnL c3f{vfFrL !)&,%@$ :gfts
kf08] 86sddf k|aGws, s]=Pd=O{=
kmfOgfG; ln= sf] ;+:yfks,
;g\ @)!# b]vL xªsªsf]
nflu PkmPgl;l;cfO{ sf]
dfgfy{ b't .
e"tk'j{ la|l6; uf]vf{ ;}lgs
sf] ?kdf @% aif{ ;]jf u/L
;]jf lgj[t, ;]So'l/l6h
>L afn s[i0f
$= ;+rfns %$ g]kfnL ndh'Ë ^,$%@ :gfts sDkgLdf ljut rf/ aif{b]vL
u'?Ë
Aoj:yfks, ljleGg
;fdflhs ;+3 ;+:yfdf cfa4
.
u}x| cfjfl;o g]kfnL ;+3sf
jt{dfg sf]iffWoIf, hfkfg
>L dx]z s'df/ l:yt l;6L PS;k|]; dlg
%= ;+rfns $* g]kfnL kj{t *),^$# :gftsf]Q/
>]i7 6«fG;km/df cWoIf, l;6L
PS;k|]; dlg 6«fG;km/ k|f=ln
g]kfndf ;~rfns, tf]gfg\

13
 sDkgL lnld6]8df cWoIf,
;]G6/ km/ kfj/ 8]enkd]06
k|f=ln df ;g\ @))* b]vL
;~rfns, xf8«f]kfj/ tyf
ljQLo If]qdf !% aif{eGbf
jl9sf] cg'ea .
s]lGb|o >d k/fdz{ kl/ifbdf
;b:o, cfp6;f]l;{Ë
Pzf]l;P;g g]kfnsf] cWoIf,
u}x| cfjfl;o g]kfnL ;+3sf]
k'j{ pkfWoIf, s]l6Pd u|'k sf]
cWoIf tyf k|d'v sfo{sf/L
clws[t ,-o; cGtu{t
s]l6Pd ;]So'l/l6 ;le{;]h
k|f=ln=,s]l6Pd g]kfn k|f=ln=,
>L /fd]Zj/ s]l6Pd df]6/ k|f=ln=, s]l6Pd
^= ;+rfns %$ g]kfnL sf7df08f} %,#&& :gfts
zfx km]l;lnl6 Dofg]hd]G6 k|f=ln=,
s]l6Pd Prcf/ ;f]n';f]g
k|f=ln=, s]l6Pd 6]«lgË P08
sG;N6]lG; ;le{;]h k|f=ln=,
s]l6Pd xf]lN8Ë k|f=ln=,
s]l6Pd :6f]/ k|f=ln=, s]l6Pd
OG6/g]zgn k|f=ln= kb{5g_\,
@% aif{ eGbf al9 ;]So'l/l6
tyf cfp6;f]l;{Ë Aoj;fodf
;+nUg .

o; sDkgLsf] sfo{sf/L cWoIfsf] ?kdf >L hLjgfy nfld5fg] /xg' ePsf] 5 . lrtjg :yfoL a;f]af; ePsf nfld5fg]n] Pd=P;=;L=
-l;len OlGhlgol/Ë_ ;Ddsf] cWoog k'/f ug'{ePsf] 5 eg] ;flgdf xfO8«f]kfj/ ln=, d]8Ls]o/ g]zgn xl:k6n P08 l/;r{ ;]G6/
ln=, ;flgdf a}+s ln=, sflGtk"/ 6]lnlehg g]6js{ k|f=ln=, sflGtk"/÷PSdL OlGhlgol/Ë sn]h, ;f]kfg dlN6kn, xf]6n csfdf k|f=ln=
/ g]]S6f/ OG6/g]zgn nufotsf ;+3 ;+:yfdf cfj¢ /xb} cfpg'ePsf] 5 . u}/ cfjfl;o g]kfnL ;+3sf ;+:yfks ;b:o tyf k'j{
cWoIf ;d]t /xg' ePsf nfld5fg] ljleGg ;flxlTos tyf ;dfh ;]jf nufotsf ;+3 ;+:yf;+u cfj4 /xb} cfpg'ePsf] 5 . pxfFnfO{
;g\ @)!# df tTsfnLg /fi6«klt /fdj/0f ofbjHo"af6 cfly{s÷;fdflhs If]qdf k'¥ofpg' ePsf] of]ubfgsf] sb/ :j?k k|Hjn
;]jf>L kbsaf6 lje'lift ;d]t ul/Psf] lyof] .
-v_ ;+:yfksx? s'g} sDkgL÷;+:yf ePdf To:tf] sDkgL÷;+:yfsf] gfd tyf 7]ufgf ;lxtsf] ;+lIfKt ljj/0f (Profile) / pQm
sDkgL÷;+:yfsf ;~rfnsx?sf] gfd, 7]ufgf, -k|fs[lts JolQm gv'n];Dd_ M ;f] gePsf] .

-u_ ;+ul7t ;++:yfsf] ;~rfns cGo s'g} sDkgL, ;++:yf, sf]if, ;+u7g;Fu cfj4 eP To:tf] ;~rfns / cfj4 ePsf] ;+:yfsf] gfd,
7]ufgf M
sDkgLsf ;~rfnsx? cfj4 /x]sf cGo sDkgL, ;+:yf, sf]if, ;+u7g jf kmd{x?sf] ljj/0f b]xfo cg';f/ 5 M
l;=g+= ;+rfnssf] gfd, 7]ufgf cfj4 /x]sf] ;+:yfsf] gfd, 7]ufgf
– cWoIf– lxdfnog kfj/ kf6{g/ lnld6]8
– ;~rfns–sflGtk'/ 6]lnlehg g]6js{ k|f= ln=
!= >L hLjgfy nfld5fg]
;~rfns–d]l8s]o/ g];gn xl:k6n P08 l/;r{ ;]G6/ ln=/
– Pgcf/Pg ;+3sf k"j{ cWoIf
@= >L s[i0f k|;fb kf08] – k|d'v sfo{sf/L clws[t–xf]ln8] g]kfn 6«feN; P08 6';{ lnld6]8
#= >L dx]z s'df/ >]i7 – ;~rfns–lxdfnog kfj/ kf6{g/ lnld6]8
14
 – cWoIf tyf ;~rfns– l;6L PS;k|]; dlg 6«fG;km/ k|f=ln=
– cWoIf tyf k|d'v sfo{sf/L– s]l6Pd u|'k cGtu{tsf ljleGg
$= >L /fd]Zj/ zfx
sDkgLx?df .
– k"j{ cWoIf– Pgcf/Pg ;+3,
%= >L z]if 3n] k|d'v sfo{sf/L clws[t–d]nag{ OlG;Ro'6 ckm 6]Sgf]nf]hL k|f=ln=,
cWoIf– PdcfO6L u|'k xf]lN8Ë k|f=ln
^= >L afns[i0f u'?Ë – g]kfndf ljleGg Joj;fo / ;+3÷;+:yfdf cfa4
o; sDkgLsf] ;+rfns To:t} vfnsf] cGo sDkgLsf] ;+rfns gePsf]] / sDkgL P]g, @)^# sf] bkmf *( sf] pkbkmf -!_ 5
tyf ;+:yfut ;'zf;g ;DalGw lgb]{lzsf @)&$ sf] Aoj:yfx?sf] kfngf ePsf] hfgsf/L u/fpFb5f}+ .
3_ ;+:yfks÷;~rfnssf] xs x:tfGt/0f aGb]h ;DaGwL ljj/0f M
s_ of] klAns sDkgL ePsf]n] o; sDkgLsf] z]o/ v'nf ?kdf ljqmL ljt/0f ug{ ;lsg] 5 .
v_ sDkgLsf] z]o/ sfg'gsf] l/t k'¥ofO{ rn ;DklQ ;/x xs 5f8L lbg jf aGws /fVg ;lsg]5 . t/ sDkgLn] lnPsf] jf lng
sa'n u/]sf] z]o/ sDkgLsf] k|yd ;fwf/0f;ef geP;Dd / To:tf] z]o/sf] dfusf] /sd k'/f r'Qmf geP;Dd / ;~rfns
;ldltsf] :jLs[tL glnP;Dd ljqmL ug{ jf lwtf]aGws /fVg ;lsg] 5}g .
u_ ;+:yfks z]o/wgLx?n] cfkm'n] lnPsf] z]o/ a]rlavg ug'{ k/]df pQm z]o/ v/Lb ug{ ;j{k|yd ;+:yfks z]o/wgLx?nfO{
k|fyldstf lbg'kg]{5 . pk/f]Qm adf]lhd k|fyldstf lb+bf Ps eGbf a9L JolQmx? To:tf] z]o/ v/Lb ug{ OR5's ;a}n] ;s];Dd
a/fa/ v/Lb ug{ ;Sg] u/L a]Rg'kg]{5 . ;f] ;d"xsf s'g} klg ;+:yfks z]o/wgLn] z]o/ lng] OR5f gu/]df dfq To:tf] z]o/
;+rfns ;ldltsf] lg0f{o adf]lhd cGo JolQm, kmd{, sDkgL jf ;+ul7t ;+:yfnfO{ ljqmL ug{ ;lsg]5 .
3_ z]o/wgLx?n] xsk|b z]o/df cfkm\gf] xs 5f8L c? s;}n] ;f] xs x:tfGt/0f ug{ kfpg] 5g\, xsk|b z]o/ v'Nnf cjlwdf
;Dk"0f{ z]o/ laqmL geO{ afFls /xg uPdf To;/L afFls /x]sf] z]o/ ;~rfns ;ldltn] kf/bzL{ tl/sfn] laqmL ug'{kg]{5 . o;/L
laqmL ubf{ v/Lb ug{ rfxg] nufgLstf{ ;a}nfO{ ;dfg cj;/ k|bfg ug'{kg]{5 .
ª_ z]o/ v/Lb jf x:tfGt/0f ;DaGwL cGo Joj:yfx? lwtf]kq ;DaGwL P]g lgod, lgb]{lzsf, sDkgL sfg'g adf]lhd x'g]5g\ .
ælwtf]kq btf{ tyf lgisfzg lgodfjnL, @)&#Æ sf] lgod -#*_ sf] pklgod -!_ df ePsf] Joj:yf cg'?k lwtf]kq ;fj{hlgs
lgisfzg ug{ ;Sg] u/L ;+:yflkt ;+ul7t ;+:yfsf ;j{;fwf/0f afx]s cGo ;d"x -;+:yfks, sd{rf/L / cGo ;d"x_ n] lnPsf]
z]o/ ;+ul7t ;+:yfn] ;fj{hlgs lgisfzg u/]sf] z]o/ afF8kmfF8 ePsf] ldltn] tLg jif{sf] cjlw k"/f geO{ laqmL ug{ kfO{g] 5}g.
v_ ;+:yfks÷;~rfns;Fusf] sf/f]jf/M
-s_ ;+ul7t ;++:yfaf6 s'g} ;+:yfks÷;~rfnsn] k|ToIf jf ck|ToIf ?kdf s'g} j:t' jf ;'ljwf -cfly{s jf u}/cfly{s_ k|fKt
u/]sf] jf k|fKt ug]{ ePdf To:tf] j:t' jf ;'ljwfsf] k|s[lt / d"No / To:tf] ;'ljwf lbP jfkt ;+ul7t ;+:yfn] s'g} ;DklQ, ;]jf
k|fKt u/]sf] jf ug]{ ePdf tTf\ ;DaGwL ljj/0f M ;f] gePsf] .

-v_ aF'bf -s_ df pNn]lvt j:t' jf ;'ljwfsf] d"No lgwf{/0f ug{ ckgfOPsf] tl/sf M ;f] gePsf] .

^=;Lldt bfloTj ;DaGwL ljj/0f M

o; sDkgLsf] sf/f]af/sf] ;DaGwdf z]o/wgLx?sf] bfloTj lghn] v/Lb u/]sf] jf v/Lb ug{ sa'n u/]sf] z]o/sf] c+lst d"No;Dd
dfq l;ldt /xg]5 .
&=;+ul7t ;+:yfsf] sd{rf/L ;DaGwL hfgsf/L M
s_;+ul7t ;+:yfsf] pRr Joj:yfksLo txsf clws[t sd{rf/Lx? ;DaGwL ljj/0fM
-s_ ;+ul7t ;++:yfsf] pRr Joj:yfksLo txsf sd{rf/Lsf] gfd, of]Uotf, lgo'lQm ePsf] ldlt, klxn] u/]sf] sfdsf] cg'ej tyf
;+ul7t ;++:yfsf] z]o/ lnPsf] eP z]o/ ;+Vof ;DaGwL ljj/0f . ;fy} To:tf] sd{rf/Lx? cGo s'g} ;"lrs[t ;+ul7t ;+:yfsf]
cfwf/e"t z]o/wgL eP jf cGo s'g} ;+ul7t ;+:yfdf nufgL u/]sf] eP pQm ;+ul7t ;+:yfsf] gfd / nufgL u/]sf] /sd v'nfpg'
kg]{ M

15
qm=;+= sd{rf/Lsf] gfd kb of]Uotf lgo'lQm ldlt sfof{g'ej z]o/ ;+Vof
dfgj ;+;fwg tyf k|zf;g ljefu
k|d'vsf] ?kdf ;flgdf nfO{km OG:of]/]G;
ln= df !=% aif{sf] sfof{g'ej,
k|d'v ;~rfng clws[t sf] ?kdf
Pg=cf/=Pg=cfO=l8=Pn= df % aif{sf]
sfof{g'ea, ;flgdf dfO{ xfO8«f]kfj/ ln=df
al/i7 k|zf;g clws[tsf] ?kdf @
aif{ tyf ;flgdf xfO8«f]kfj/ ln= df
dfgj ;+;fwg clws[tsf] ?kdf % aif{sf]
k|d'v u|fld0f
>LdtL piff cg'ea, ;g\ @)!& df o'g]:sf]åf/f
!= sfo{sf/L ljsf;df @)&^.)@.!% –
vltj8f g]b/Nof08df cfof]lht hn
clws[t :gftsf]Q/
Aoa:yfkg ;DaGwL
tflnddf ;xeflutf, ;g\ @)!^ / @)!*
df cd]l/sfdf ePsf] xfO8«f] lehg
cGt/f{li6«o ;Dd]ngdf
aSQfsf] ?kdf ;xeflutf, To;}ul/
kmf|G;, leotgfd, >Lnªsf,
gj]{ nufotsf b]zdf ePsf]
cGt/f{li6«o :t/sf] ;Dd]ngdf
aQmfsf] ?kdf ;xeflutf .
ljut @) jif{ b]lv ;flgdf u|'ksf ljleGg
sDkgLx?, hfjnfv]n u|'k ckm
OG8li6«hsf ljleGg sDkgLx?, nf]d;
sfg'g :yfkgfsfn s;d;, rf}w/L u|'ksf ljleGg sDkgLx?
>L ab|L sDkgL
@= ;+sfodf b]lv nufotsf ljleGg ;+3 ;+:yfdf afl0fHo –
ljzfn l3ld/] ;lrj
:gfts xfn;Dd sfg'g ;DaGwL
k/fdz{bftfsf] ?kdf ;+nUg, Aoa;flos
clwaQmf, ;g\ !((* b]lv ljzfn n
Pzf]l;P6\;sf] k|d'vsf] ?kdf ;+nUg .
ljut ^ jif{b]lv ljQLo k/fdz{ /
>L k|lz4 :jtGq ljQLo Rff6{8{ n]vfkl/If0fdf ;+UnUg /x]sf] .
#= @)&%.!@.)! –
Gof}kfg] k/fdz{bftf PsfpG6]G6 >]i7 P08 Gof}kfg] P;f]l;o6\;, rf6{8{
Psfp06]G6sf ;fem]bf/ .

;+ul7t ;++:yfsf sd{rf/Lx? cGo ;"rLs[t ;+ul7t ;+:yfsf] cfwf/e"t z]o/wgLsf] ?kdf /x]sf] jf sd{rf/Lx?n] cGo s'g} ;+ul7t
;+:yfdf u/]sf] nufgL ;DaGwL ljj/0f M ;f] gePsf] .
-v_ ljj/0fkq af]8{df k|:t't ug'{ eGbf ! jif{ cufl8sf] cjlwdf lgod cg';f/ cjsfz k|fKt ePsf] cj:yf afx]s ;+ul7t
;++:yfsf] pRr Joj:yfksLo txdf /x]sf s'g} sd{rf/L kl/jt{g ePsf] eP ;f] ;DaGwL ljj/0fM

o; sDkgLdf Joj;fo ljsf; clws[tsf] ?kdf sfo{/t >L k|lz4 Gof}kfg]n] JolQmut sf/0fn] /fhLgfdf lbPkl5 ;f] kbef/
>LdtL piff vltj8fn] lng'ePsf] lyof] .

-u_ sd{rf/Lsf] ;+VofM :yfoL, c:yfoL, s/f/, Hofnfbf/L / cGo M

o; sDkgLdf b]xfo adf]lhdsf sd{rf/L sfo{/t /x]sf 5g\ M

16
 qm=;+= s'n sd{rf/L ;+Vof :yfoL k|lzIffly{÷c:yfoL s/f/ Hofnfbf/L cGo
1 % @ — @ – !

gf]6 M
* sd{rf/Lx?sf nflu ;'/lIft ul/Psf] z]o/ :yfoL kbdf sfo{/t sd{rf/Lx?nfO{ dfq afF8kmFf8 ug]{ Joj:yf ul/Psf] 5 .
* o; ;+:yfn] cfkm+} kl/of]hgf Aoj:yfkg ug]{ geO{ pmhf{ pTkfbg ug]{ tyf k'jf{wf/ ;Fu ;DalGwt ljljw sDkgLx?df nufgL
k|j4{g ug]{ x'Fbf ;+:Yffdf sfo{/t sd{rf/L o; ;+:yfsf] p2]Zo k|fKt ug{ kof{Kt /x]sf 5g\ .
-v_ ;~rfns Pj+ pRr Joj:yfksLo txsf clws[tnfO{ lbPsf] eQf tyf kfl/>lds ;DaGwL ljj/0fM
-s_ ;~rfns ;ldltsf] cWoIf nufot cGo ;b:ox?nfO{ k|bfg ul/g] jf ul/Psf] a}7s eQfsf] b/ tyf lghx?nfO{ k|bfg ul/g]
jf ul/Psf] b}lgs tyf e|d0f eQf tyf cGo ;'ljwfM
!=;~rfns ;ldltsf] a}7sdf pkl:yt eP afkt cWoIfnfO{ s'g} k|sf/sf] a}7s eQf k|bfg ul/g] 5}g ;fy} cGo ;+rfnsnfO{
klg s'g} k|sf/sf] a}7s eQf pknAw u/fOg] 5}g .
@=sDkgLsf] sfdsf] l;nl;nfdf cWoIf nufot ;+rfnsx?nfO{ k|bfg ul/g] b}lgs tyf e|d0f eQfsf] Aoj:yf ul/Psf] 5}g .
#= ;~rf/ tyf kqklqsf vr{ jfkt ;d]t cWoIf nufot cGo s;}nfO{ s'g} Aoj:yf ul/Psf] 5}g .
-v_ ;+ul7t ;+:yfsf] pRr Joj:yfksLo txsf tLg hgf clws[tx?sf] gfd, kb / Ps cfly{s jif{sf] cjlw leq pgLx?nfO{
kfl/>ldssf] ?kdf e'Qmfg ul/Psf] /sdM

kfl/>ldssf] ?kdf e'Qmfg ul/Psf] /sdM

qm=;+= sd{rf/Lsf] gfd kb
-@)&% >fj0f @)&^ cfiff9 d;fGt;Dd_
!= >L hLjgfy nfld5fg] sfo{sf/L cWoIf xfn;Dd s'g} ;'ljwf glnPsf]
@= >LdtL piff vltj8f k|d'v sfo{sf/L clws[t *?= !,#%,)))=))
#= >L k|lz4 Gof}kfg] tTsflng Joj;fo ljsf; clws[t ?= ^,^*,#@@=))
$= >L ab|L ljzfn l3ld/] sDkgL ;lrj ?= @,^),)))=))

Joj;fo ljsf; clws[t >L k|lz4 Gof}kfg]n] o; sDkgL ;dIf ldlt @)&% kmfNu'0fdf k]z ug'{ ePsf] /flhgfdf :jLs[t e};s]sf]
x'Fbf xfn pxfF o; sDkgLdf Joj;fo ljsf; clws[tsf] ?kdf sfo{/t x'g'x'Gg . ;fy} lghn] ;Dxfln/xg' ePsf] sfo{ef/ o;
;+:Yffsf k|d'v sfo{sf/L clws[t >LdtL piff vltj8fn] jxg ub}{ cfO{/xg' ePsf] 5 .
* k|d'v sfo{sf/L clws[t >LdtL piff vltj8fnfO{ ldlt @)&^ h]i7 !% ut]b]lv cfiff9 d;fGt ;Dd e'QmfgL ul/Psf] .

u_ s'g} clws[t jf ;~rfnsnfO{ eljiosf] nflu s'g} /sd k|bfg ul/g] u/L s/f/ ul/Psf] eP ;f] ;DaGwL ljj/0fM ;f] gePsf].

*=cGtlg{lxt hf]lvd tyf ;f]sf] Joj:yfkgsf nflu Joj:yfkgsf] wf/0ff M

o; ;Gbe{df hf]lvdx?nfO{ ;+ul7t ;+:yfsf] cfGtl/s jf Joj;fo÷kl/of]hgf;Fu k|ToIf cyjf ;+ul7t ;+:yfsf] lgoGq0f eGbf
aflx/sf] egL jlu{s/0f u/L k|d'v ?kdf b]xfosf] hf]lvdx? /x]sf 5g\ .
-s_ ljQLo ;fwgsf] cefjaf6 x'g] hf]lvd M z]o/ nufgLdf e''QmfgL ug{ ;d:of kg]{ .
-v_ sRrf kbfy{sf] cefjaf6 x'g] hf]lvd M nfu' gx'g] .
-u_ pTkfbg jf ;]jfsf] ahf/sf] l:ylt / o;df cfpg] kl/jt{gaf6 x'g] hf]lvd M
!= sDkgLn] u/]sf nufgL / C0f v/fj x'g uPdf x'g] hf]lvdx? .
@= sDkgLn] nufgL u/]sf] cGo sDkgLx?sf] kl/of]hgf ljleGg kl/l:yltn] ubf{ ;dodf g} lgdf{0f x'g g;s]df pTkGg x'g]
hf]lvdx? .
#= Aofhb/df cfpg] kl/jt{gaf6 x'g ;Sg] hf]lvdx? .
-3_ cfof]hgf ;DkGg x'g l9nfO{ x'g] ;Defjgf / To;af6 x'g] d"No clea[l4 (Cost Overrun) sf] hf]lvd M sDkgLn] nufgL
u/]sf] cGo sDkgLsf] kl/of]hgfx?df d"No clej[l4 x'Fbf nufgL /sd a9\g] / k|ltkmn cfpg l9nfO{ x'g] hf]lvd .
-ª_ ljb]zL ljlgdosf] hf]lvd M ljb]zL ljlgdo sf/f]jf/ ubf{ ljlgdo b/df x'g] kl/jt{g tyf b]zsf] j}b]lzs Aofkf/ gLltdf x'g]
kl/jt{gaf6 pTkGg x'g ;Sg] hf]lvdx? .
17
-r_ sfg"gL k|lqmofx? tyf O{hfht k|fKt ug'{kg]{ eP ;f]af6 kg{ ;Sg] cj/f]wx? M xfn sDkgLn] k'/f ug'{kg]{ ;Dk"0f{ sfg"gL
k|lqmofx? k"/f ul/;s]sf] / k|fKt ug{'kg]{ ;Dk"0f{ Ohfhtkqx? k|fKt u/L ;s]sf]n] ;f] hf]lvd g/x]sf] .
-5_ If]qLos/0f / ljZjJofkLs/0f (Globalization) sf sf/0faf6 pTkGg x'g ;Sg] hf]lvd M
!= cGt/f{l{i6«o ahf/df x'g] cfly{s dGbLaf6 g]kfnL ahf/df kg{ ;Sg] c;/af6 x'g;Sg] cfly{s hf]lvdx? .
@= k"FhL ahf/sf] cj:yfdf cfpg] ptf/–r9fjaf6 kg{ ;Sg] hf]lvdx? .
-h_ ;/sf/L gLlt tyf lgodx?df x'g] kl/jt{g tyf ljZjJofkL ?kdf x'g] gLltut kl/jt{gaf6 pTkGg x'g] hf]lvd M
!= g]kfn ;/sf/sf] hnljB't ;DaGwL cfly{s tyf ljQLo gLlt lgoddf x'g] kl/jt{gaf6 >[hgf x'g ;Sg] hf]lvdx? .
@= s/, eG;f/ cflb ;DaGwL Aoa:yfdf kl/j{tg ePdf >[hgf x'g ;Sg] hf]lvdx? .
-em_ ;~rfng Oltxf;sf] cefj M
o; sDkgLn] cfˆgf] sf/f]jf/ @)^(÷)%÷#! ut] b]lv ;~rfng u/]sf] x'Fbf sDkgLsf] sf/f]jf/ ;~rfngsf] Oltxf; sl/j & aif{
/x]sf] 5 .
-`_ k|ljlwsf] kl/jt{gaf6 x'g] ;Sg] hf]lvd M
gofF gofF ;"rgf k|ljlwx?sf] ljsf; ;+u} pTkGg x'g ;Sg] hf]lvdx? .
-6_ cGo M
!= b]zsf] /fhg}lts cl:y/tfaf6 cfpg ;Sg] hf]lvdx? .
@= b]zsf] cfly{s cj:yfdf cfpg] ptf/–r9fjaf6 x'g;Sg] hf]lvdx? .
pk/f]Qmfg';f/sf] hf]lvdx?nfO{ Go"g jf Joj:yfkg ug]{ ;DaGwdf Joj:yfkgsf] of]hgfM
sDkgLsf] shf{ tyf nufgL v/fj eO{ x'g;Sg] hf]lvdx?sf] nflu sDkgLn] shf{ tyf nufgL hf]lvd sf]ifsf] Aoj:yf ug]{5 .
sDkgLn] ljQ ahf/df x'g] k|lt:kwf{sf] ;fy} If]qLos/0f / ljZjAofkLs/0fsf sf/0faf6 pTkGg x'g ;Sg] hf]lvdx? Go"gLs/0f
ug{sf nflu hgzlQm ljsf;df Wofg k'¥ofpg'sf] ;fy} cGo Aofj;flos hf]lvdx?af6 pTkGg x'g ;Sg] xflg gf]S;fgLsf] nflu
Aoj:yfkg rgfvf] eO{ ;Defljt xflg gf]S;fgL sd ug{ ;Ifd / k|ltj¢ 5 . To:t} cGo ljleGg hf]lvdx? Go'lgs/0fsf nflu
k|efjsf/L cfGtl/s lgoGq0f k|0ffnL, ;dofg';f/sf] cfw'lgs k|ljlw, :ki6 gLlt tyf lgodx?sf] lgdf{0f Pjd\ ;dofg';f/ cfˆgf]
;]jf tyf ;'ljwfx?df kl/jt{g ub}{ nlug] sDkgLsf] gLlt /x]sf] 5 .
lwtf]kqsf]] d"No kl/jt{g ;DaGwL hf]lvd M
?= !))÷– k|lt z]o/sf] b/n] lgisfzg ul/Psf] d"Non] ;"rLs/0f kZrft\ g]kfn :6s PS;r]~h lnld6]8df x'g] sf/f]jf/ d"No
ghgfpg] ePsf]n] z]o/ d"Nodf x'g;Sg] kl/jt{gsf] hf]lvd /x]sf] 5 .

(=ljQLo ljj/0fM
s_ ljQLo ljj/0f / tT;DaGwdf Joj:yfkgsf] wf/0ff / ljZn]if0fM
-s_ ;+ul7t ;+:yfsf] n]vfk/LIf0f ePsf] kl5Nnf] cfly{s jif{sf] jf;nft, gfkmf gf]S;fg lx;fa, gfkmf gf]S;fg lx;fa afF8kmfF8
/ gub k|jfx ljj/0fM
sDkgLsf] cf=j= @)&%÷)&^ sf] jf;nft, gfkmf—gf]S;fg lx;fa, gfkmf—gf]S;fg afF8kmfF8 lx;fa tyf gub k|jfxsf] ljj/0f
lgDgfg';f/ 5 M–

18
 cfiff9 d;fGt, @)&^ sf] jf;nft
laa/0f /sd -?=_
z]o/ k"FhL tyf hu]8f
z]o/ k"FhL 792,877,500
hu]8f tyf ;+lrt gfkmf 16,319,222
hDdf z]o/ k"FhL tyf hu]8f 809,196,722
rfn' bfloTjx?
ljljw ;fx' tyf cGo bfloTjx? 3,620,260
cfos/sf nflu Aja:yf 21,559,592
cjsfzsf] nflu Joj:yf 203,534
hDdf rfn' bfloTjx? 25,383,386
hDdf z]o/ k"h F L tyf bfloTj 834,580,107
;DklQ
l:y/ ;DklQ 155,688
hDdf l:y/ ;DklQ 155,688
nufgL 575,098,597
rfn' ;DklQ
gub tyf a}+s df}Hbft 236,877,322
cGo rfn' ;Dklt 1,397,486
clu|d cfo s/ 20,956,950
8]km8{ cfos/ ;DklQ 94,064
hDdf rfn' ;DklQ 259,325,822
hDdf ;DklQ 834,580,107

gfkmf–gf]S;fg lx;fa ->fj0f !, @)&% b]lv cfiff9 d;fGt, @)&^ ;Ddsf] ljj/0f_
laa/0f /sd -?=_
cfDbfgL
nfef+z cfo 561,840
Jofh cfDbfgL 24,594,491
hDdf cfDbfgL 25,156,331
x|f; vr{ 51,896
nufgLDff x|f;sf] ;+efjgfsf] nflu Joj:yf 246,260
k|zf;lgs vr{ 3,476,750
cfos/ cl3sf] gfkmf -gf]S;fg_ 21,381,425
cfos/ 5,204,993
v'b gfkmf -gf]S;fg_ 16,176,432
nfef+z ljt/0f 1,285,940
nfef+z ljt/0f kl5sf] gfkmf 14,890,492

19
 gub k|jfxsf] ljj/0f - >fj0f !, @)&% b]lv cfiff9 d;fGt, @)&^ ;Ddsf] ljj/0f_
laa/0f /sd -?=_
-s_ ;+rfng ultljlwsf] gub k|jfx
! af]gz tyf cfos/ cl3sf] gfkmf 16,070,257

;dfof]hg
x|f; vr{ 51,896

:yug s/sf] nflu Aoa:yf -70,656

nufgLsf] nflu Joj:yf 246,260

sfo{lzn k"FhL kl/jt{g cl3sf] ;+rfng gub k|jfx 16,297,757

rfn' ;DklQdf ePsf sdL÷-j[l4_ -21,412,616

rfn' bfloTjdf ePsf sdL÷-j[l4_ 19,194,774

-s_ ;+rfng ultljlwaf6 v'b gub k|jfx 14,079,916

-v_ nufgL ultljlwsf] gub k|jfx

nufgLdf j[l4 -75,000,000

-v_ nufgL ultljlwaf6 v'b gub k|jfx -75,000,000

-u_ ljQLo ;|f]t sf/f]af/af6 gub k|jfx

nfefFz ljt/0f -1,285,940

-u_ ljQLo ;|f]t sf/f]af/af6 gub k|jfx -1,285,940

o; jif{sf] ;Dk"0f{ ultljlwaf6 gub k|jfx -s±v±u_ -62,206,024
gub tyf a}+sdf /x]sf] z'? df}Hbft 299,083,346

gub tyf a}+sdf /x]sf] clGtd df}Hbft 236,877,322

-v_ ;~rfng cjlw tLg jif{ JotLt e};s]sf] cj:yfdf ljut tLg jif{sf] / tLg jif{ JotLt e}g;s]sf] cj:yfdf ;~rfng
cjlwe/sf] n]vfk/LIf0f ePsf] gfkmf gf]S;fg, jf;nft ;lxtsf] ;+lIfKt ljQLo ljj/0f -;xfos sDkgL eP ;dli6s[t ?kdf_M
sDkgLn] cfˆgf] sf/f]jf/ @)^( ;fn efb| #! ut]b]lv k|f/De u/]sf] xf] . xfn sDkgLsf] s'g} ;xfos sDkgL gePsf]n] sDkgLsf]
sf/f]af/ / ;dli6s[t sf/f]af/ Pp6} /x]sf] 5 . sDkgLsf] tLg jif{ b]lvsf] n]vfk/LIf0f ePsf] jf;nft / gfkmf gf]S;fgsf] ljQLo
ljj/0f b]xfo adf]lhd /x]sf] 5 .

20
 jf;nft
jf:tljs
laa/0f
2073/74 2074/75 2075/76
z]o/ k"h
F L tyf bfloTj
z]o/ k"FhL tyf hu]8f
z]o/ k"FhL 735,698,900 768,444,700 792,877,500
hu]8f tyf ;+lrt gfkmf 32,573,567 25,967,705 16,319,222
clu|d z]o/ e'QmfgL 1,125,000 - -
hDdf z]o/ k"h F L tyf hu]8f 769,397,467 794,412,405 809,196,722
rfn' bfloTjx?
ljljw ;fx' tyf cGo bfloTjx? 3,783,676 3,377,911 3,620,260
cfos/sf nflu Joj:yf - 2,604,665 21,559,592
cjsfzsf] nflu Joj:yf - 206,036 203,534
hDdf rfn' bfloTjx? 3,783,676 6,188,611 25,383,386
hDdf z]o/ k"h F L tyf bfloTj 773,181,143 800,601,015 834,580,107
;DklQ
l:y/ ;DklQ 269,770 207,584 155,688
hDdf l:y/ ;DklQ 269,770 207,584 155,688
nufgL 448,844,857 500,344,857 575,098,597
rfn' ;DklQ
gub tyf a}+s df}Hbft 323,862,871 299,083,345 236,877,322
cGo rfn' ;Dklt 2,000 941,821 1,397,486
clu|d cfo s/ 201,645 - 20,956,950
8]km8{ cfos/ ;DklQ - 23,408 94,064
hDdf rfn' ;DklQ 324,066,516 300,048,574 259,325,822
hDdf ;DklQ 773,181,143 800,601,015 834,580,107

21
 gfkmf gf]S;fg lx;fj
jf:tljs
laa/0f
2073/74 2074/75 2075/76
cfDbfgL
nfef+z cfo 322,696 833,646 561,840
Jofh cfDbfgL 21,487,060 37,326,259 24,594,491
cGo cfDbfgL 924 260 -
hDdf cfDbfgL 21,810,680 38,160,165 25,156,331
x|f; vr{ 108,909 78,686 51,896
nufgLDff x|f;sf] ;+efjgfsf] nflu Joj:yf - - 246,260
k|zf;lgs vr{ 2,683,675 3,731,933 3,476,750
af]g; cl3sf] gfkmf -gf]S;fg_ 19,018,097 34,349,546 21,381,425
cfos/ 4,673,218 8,381,841 5,204,993
v'b gfkmf -gf]S;fg_ 14,344,879 25,967,705 16,176,432
nfef+z ljt/0f - 1,527,767 1,285,940
nfef+z ljt/0f kl5sf] gfkmf 14,344,879 24,439,938 14,890,493

u_ cfly{s jif{ ;dfKt ePsf] ^ dlxgf kZrft ljj/0fkq :jLs[ltsf] nflu k]z u/]df pQm cGtl/d cjlwsf] nflu n]vfk/LIfsaf6
k|dfl0ft u/]sf] ckl/is[t ljQLo ljj/0f M;f] gePsf] .
-3_ cfDbfgL / vr{ lx;fjsf] s'g} zLif{sdf 7"nf] dfqfdf kl/jt{g ePdf To;sf] ljZn]if0ffTds sf/0f M
;f] gePsf] .
-ª_ kl5Nnf] ljQLo ljj/0fsf] n]vfk/LIf0f eP kZrft ;+ul7t ;+:yfsf] sf/f]af/, gfkmf gf]S;fg, ;DklQsf] d"No jf cfufdL !@
dlxgfsf] bfloTj e'QmfgLdf c;/ kg]{ u/L s'g} cj:yf l;h{gf ePsf] 5÷5}g ;f] ;DaGwdf ;~rfnsx?sf] wf/0ff M
;f] gePsf] .
-r_ cfly{s jif{ ;dfKt ePkl5 ljj/0fkq k]z u/]df, ljj/0fkq k]z u/]sf] ldltaf6 :jLs[lt x'g] ldlt;Dddf jf;nftsf] ldlt
kl5sf] 36gfsf] jf/]df 5'§} hfgsf/L M
;f] gePsf] .
-5_ ljut % jif{df ;DklQsf] k'gd"{Nof+sg ul/Psf] 5÷5}g, olb ul/Psf] eP -c_ ;DklQsf] ljj/0f, -cf_ ;DklQsf] k"gd"{Nof+sg
cl3 / kl5sf] lstfjL d"No, -O{_ k"gd"{Nof+sgsf] cf}lrTo M
;f] gePsf] .
-h_ cfufdL tLg jif{sf] k|If]lkt jf;nft, gfkmf gf]S;fg lx;fasf ;fy} To;sf u0fgfsf] cfwf/x? M
sDkgLsf] cfufdL # cfly{s jif{sf] nflu k|If]lkt ljQLo l:ylt b]xfo adf]lhd /x]sf] 5 M

22
 k|If]lkt jf;nft
k|If]lkt
laa/0f
2076/77 2077/78 2078/79
z]o/ k"FhL tyf bfloTj
z]o/ k"FhL tyf hu]8f
z]o/ k"FhL 1,132,682,100 1,132,682,100 1,132,682,100
hu]8f tyf ;+lrt gfkmf 24,170,934 39,255,188 49,447,239
clu|d z]o/ e'QmfgL - - -
hDdf z]o/ k"h F L tyf hu]8f 1,156,853,034 1,171,937,288 1,182,129,339
rfn' bfloTjx?
ljljw ;fx' tyf cGo bfloTjx? 2,981,405 2,495,605 2,014,462
af]g;sf nflu Aoa:yf 3,418,423 4,597,649 5,469,512
cfos/sf nflu Aoj:yf 7,622,888 3,640,944 522,363
hDdf rfn' bfloTjx? 14,022,717 10,734,197 8,006,337
hDdf z]o/ k"h F L tyf bfloTj 1,170,875,750 1,182,671,485 1,190,135,675
;DklQ
l:y/ ;DklQ 139,891 107,231 82,389
hDdf l:y/ ;DklQ 139,891 107,231 82,389
nufgL 687,627,700 850,127,700 1,000,127,700
rfn' ;DklQ
gub tyf a}+s df}Hbft 477,639,626 328,885,966 188,097,958
cGo rfn' ;Dklt 2,000 2,000 2,000
clu|d cfo s/ 5,372,469 3,454,524 1,731,564
8]km8{ cfos/ ;DklQ 94,064 94,064 94,064
hDdf rfn' ;DklQ 483,108,159 332,436,555 189,925,586
hDdf ;DklQ 1,170,875,750 1,182,671,485 1,190,135,675

23
 k|If]lkt gfkmf gf]S;fg lx;fj
k|If]lkt
laa/0f
2076/77 2077/78 2078/79
cfDbfgL
nfef+z cfo 274,256 26,815,066 47,136,152
Jofh cfDbfgL 35,816,462 23,030,162 11,543,759
Do'r'cn km08df nufgLaf6 k|fKt
400,000 - -
k|ltkmn
nufgL ljqmLaf6 ePsf] gfkmf -
4,586,530 - -
3f6f_
hDdf cfDbfgL 41,077,247 49,845,228 58,679,911
vr{
x|f; vr{ 40,797 32,660 24,842
z]o/ lgisfzgsf] vr{ 3,500,000
nufgLDff x|f;sf] ;+efjgfsf]
-246,260 - -
Joj:yf lkmtf{
k|zf;lgs vr{ 3,598,478 3,836,078 3,959,953
sd{rf/L af]g; / cfos/ cl3sf] 34,184,232 45,976,489 54,695,116
gfkmf -gf]S;fg_
af]g;sf nflu Aoj:yf 3,418,423 4,597,649 5,469,512
cfos/ 7,622,888 3,640,944 522,363
v'b gfkmf -gf]S;fg_ 23,142,921 37,737,897 48,703,241
nfef+z ljt/0f 15,291,208 22,653,642 38,511,191
nfef+z ljt/0f kl5sf] gfkmf 7,851,712 15,084,255 10,192,050

24
 k|If]lkt gub k|jfxsf] ljj/0f
k|If]lkt
laa/0f
2076/77 2077/78 2078/79
-s_ ;+rfng ultljlwsf] gub k|jfx
af]gz tyf cfos/ cl3sf] gfkmf 23,142,921 37,737,897 48,703,241

;dfof]hgM
x|f; vr{ 40,797 32,660 24,842

nufgL ljqmLaf6 ePsf] -gfkmf_ 3f6f -4,832,790 - -

sfo{lzn k"+hL kl/jt{g cl3sf] ;+rfng gub k|jfx 18,350,928 37,770,557 48,728,083

rfn' ;DklQdf ePsf sdL÷-j[l4_ 16,979,968 1,917,945 1,722,960

rfn' bfloTjdf ePsf sdL÷-j[l4_ -11,360,669 -3,288,519 -2,727,861

;+rfng ultljlwaf6 v'b gub k|jfx 23,970,226 36,399,982 47,723,183

-v_ nufgL ultljlwsf] gub k|jfx

l:y/ ;DkQL vl/b -25,000 - -

nufgLsf] ljqmL 21,303,687 - -

nufgLdf j[l4 -129,000,000 -162,500,000 -150,000,000

nufgL ultljlwaf6 v'b gub k|jfx -107,721,313 -162,500,000 -150,000,000

-v_ ljQLo ;|f]t sf/f]af/af6 gub k|jfx

z]o/ k"FhLdf j[l4÷-sdL_ 339,804,600 - -

nfefFz -15,291,208 -22,653,642 -38,511,191

-u_ ljQLo ;|f]t sf/f]af/af6 gub k|jfx 324,513,392 -22,653,642 -38,511,191

o; jif{sf] ;Dk"0f{ ultljlwaf6 gub k|jfx - 240,762,305 -148,753,660 -140,788,008
s±v±u_
gub tyf a}+sdf /x]sf] z'? df}Hbft 236,877,322 477,639,627 328,885,967

gub tyf a}+sdf /x]sf] clGtd df}Hbft 477,639,626 328,885,966 188,097,958S

cg';'rL !
nfefF; cfDbfgL

k|If]lkt
laa/0f
2076/77 2077/78 2078/79
nfef+z cfDbfgL
lxdfnog kfj/ kf6{g/ ln=af6 - 18,066,810 28,906,896

;flgdf ldl8n tdf]/ xfO8«f]kfj/ ln= af6 - 1,824,000 6,080,000

:j]tuËf xfO{8«f]kfj/ P08 sG:6«S;g ln= af6 - 6,650,000 9,500,000

dflyNnf] d}n'Ë vf]nf hnljB't ln= af6 - - 2,375,000

cGo nufgLaf6 274,256 274,256 274,256

s"n 274,256 26,815,066 47,136,152
25
 cg';'rL @
Aofh cfDbfgL/ cg'dflgt d'2tLdf /xg] /sd

k|If]lkt
laa/0f
2076/77 2077/78 2078/79
cg'dflgt d'2tLdf /xg] /sd 447,705,777 287,877,027 144,296,987
Aofh cfDbfgL 35,816,462 23,030,162 11,543,759

cg';'rL #
k|zf;lgs vr{

k|If]lkt
laa/0f
2076/77 2077/78 2078/79
;fwf/0f ;efsf] vr{ 235,056 248,337 262,368
lj1fkg vr{ 51,591 54,506 57,585
n]vfkl/If0f vr{ 18,283 19,316 20,407
n]vfkl/If0f z'Ns 110,000 110,000 110,000
a}Fs z'Ns 1,352 1,429 1,509
;+rf/ vr{ 31,610 33,396 35,283
sfg'gL k/fdz{ z"Ns 226,831 239,646 253,187
3/axfn vr{ 360,000 360,000 396,000
;'/Iff vr{ 394,284 394,284 433,712
sfof{no ;+rfng vr{ 156,750 165,606 174,963
btf{ tyf gljs/0f vr{ 29,371 31,030 32,783
sd{rf/L vr{ 1,440,000 1,584,000 1,584,000
sd{rf/L pkbfg vr{ 119,952 131,947 131,947
sd{rf/L ;+rosf]if vr{ 144,000 158,400 158,400
d;nGb vr{ 34,843 36,812 38,892
e|d0f vr{ 19,566 20,672 21,840
j]e;fO{6 ;+rfng vr{ 6,339 6,697 7,076
k/fdz{ z'Ns 218,650 240,000 240,000
s"n 3,598,478 3,836,078 3,959,953

cg';'rL $
nufgLsf] ljj/0f
k|If]lkt
laa/0f
2076/77 2077/78 2078/79
hnljB't kl/of]hgfdf nufgL 681,853,900 844,353,900 994,353,900
hnljB't ;Fu ;Dalwt cGo k|fylds z]o/df 5,773,800 5,773,800 5,773,800
nufgL
s"n 687,627,700 850,127,700 1,000,127,700
cg';'rL %
26
ljljw ;fx' tyf cGo bfloTjx?

laa/0f k|If]lkt
2076/77 2077/78 2078/79

l6l8P; e'QmfgL 10,000 10,000 10,000

ltg{ afFsL ;+rfng vr{ /sd 188,571 188,571 207,428

clu|d z]o/ jfkt k|fKt /sd 2,490,838 1,990,838 1,490,838

sd{rf/LnfO{ ltg{ afFsL /sd 141,996 156,196 156,196

cGo e'QmfgL ug{ afFsL /sd 150,000 150,000 150,000
s"n 2,981,405 2,495,605 2,014,462

cg';'rL ^
l:y/ ;DklQ / x|f; vr{

k|If]lkt
laa/0f
2076/77 2077/78 2078/79
kmlg{r/, lkmSr;{ / sfof{no pks/0fx?
36\bf] k|0ffnL adf]lhd afFsL /sd 155,688 116,766 87,574
x|f; b/ 25% 25% 25%
x|f; vr{ 38,922 29,191 21,894
cGo ;DklQ
36\bf] k|0ffnL adf]lhd afFsL /sd 25,000 23,125 19,656
x|f; b/ 15% 15% 15%
x|f; vr{ 1,875 3,469 2,948
s"n x|f; vr{ 40,797 32,660 24,842
s"n ;DklQ -36\bf] k|0ffnL adf]lhd afFsL /sd_ 139,891 107,231 82,389

** k|If]lkt ljQLo ljj/0f sDkgL cfkm}n] tof/ kf/]sf] xf] / ;f] ljQLo ljj/0fx? >]i7 P08 Gof}kfg] P;f]l;P6\; rf6{8{
Psfp06]G6sf ;fem]bf/ l;=P= >L k|lz4 Gof}kfg]n] k|dfl0ft ug{'ePsf] 5 .
ljQLo k|If]k0fsf cfwf/ tyf tl/sfx? M

l; g+ laa/0f cfwf/x?
cf=j= @)&$.&% df af]g; z]o/ hf/L u/] kZrftsf] z]o/df #) k|ltzt ;fwf/0f z]o/ hf/L ug{]
z]o/ k"h
F L
!= cg'dfg ul/Psf] 5 . ;f] afx]s z]o/ k'FhL j[l4 gx'g] k|If]k0f ul/Psf] 5 .
l:y/ ;DklQ k|If]lkt cjlwsf] nflu l:y/ ;Dklt sfo{ ;+rfngsf] nflu dfq yk ul/g] k|If]k0f ul/Psf] 5 . ;f]
@= /sd k|If]k0f ;doel/ hDdf ?= @%,))) -cf=j= @)&^.&&_ df /xg] cg'dfg ul/Psf] 5 .
tNnf] lnv" hnljB't\ kl/of]hgf -@*=! d]ufjf6_, dWo tdf]/ hnljB't\ kl/of]hgf -&# d]ufjf6_ /
dflyNnf] d}n'Ë vf]nf hnljB't kl/of]hgf -!$=# d]ufjf6_ df ;Demf}tf cg';f/ nufgL ul/g]
cg'dfg ul/Psf] 5 . ;f] ;Demf}tf adf]lhd tNnf] lnv" hnljB't\ kl/of]hgf -@*=! d]ufjf6_ / dWo
#= nufgL
tdf]/ hnljB't\ kl/of]hgf -&# d]ufjf6_ df xfn;Dd ;Dk"0f{ /sd r'Qmf eO{;s]sf] 5 . dflyNnf]
d}n'Ë vf]nf hnljB't kl/of]hgf -!$=# d]ufjf6_ df cf=j= @)&^.&& / @)&&.&* df ;Demf}tf
cg'?k ?= @,&%,)),))) nufgL ug{] cg'dfg ul/Psf] 5 .
27
 To; afx]s sDkgLsf] ljrf/fwLg cj:yfdf /x]sf kl/of]hgfx? dWo]af6 pTs[i6 tLg kl/of]hgfx?df
cf=j= @)&^.&& df yk ?= !),)),)),))), cf=j= @)&&.&* df yk ?= !%,)),)),))) / cf=j=
@)&*.&( df yk ?= !%,)),)),))) nufgL ug]{ cg'dfg ul/Psf] 5 . nufgL klxrfg ug{ nfUg]
;dodf df}Hbftdf /x]sf] /sd d'2tL vftfdf /xg] cg'dfg ul/Psf] 5 .
;fy} sDkgLn] cfkm\gf] nufgL u/]sf] s]lx z]o/ cf=j= @)&^.&& df ljqmL ug{] cg'dfg ul/Psf] 5
. ;f] ljqmL /sd cg'dfg ug{ sDkgLn] ljut !*) lbgsf] g]K;]sf] sf/f]af/ /sdnfO{ cfwf/ lnPsf]
5.
$= rfn' ;DklQ
$=! clu|d cfos/df Aofh cfo sf] !% k|ltzt a}Fs tyf ljQLo ;+:yfn] s§f ug{] cg'dfg ul/Psf] 5
clu|d cfos/
. ;f] /sd jflif{s ?kdf s/ bfloTj;+u ;dfof]hg x'g] cg'dfg ul/Psf] 5 .
$=@ cGo rfn' ;Dklt w/f}l6 afx]s cGo rfn' ;Dklt g/xg] cg'dfg ul/Psf] 5 .
$=# 8]km8{ cfos/ 8]km8{ cfos/df s'g} kl/jt{g gx'g] cg'dfg ul/Psf] 5 .
%= rfn' bfloTj
%=! cGo bfloTjx?df z]o/sf] nflu cu|Ld e'QmfgL u/]sf] t/ klxrfg gv'n]sf] /sd ;dfj]z ul/Psf]
cGo bfloTj
5 . ;f] /sd sDkgLn] klxrfg u/]/ jflif{s ?= %,)),))) lkmtf{ ug{] cg'dfg ul/Psf] 5 .
%=@ cfos/sf nflu nfef+z afx]ssf] cfDbfgLdf vr{ 36fO{ x'g] gfkmfsf] @% k|ltzt /sd cfos/sf] nflu Aoa:yf
Aoj:yf ul/Psf] 5 .
%=# af]g;sf] nflu sd{rf/Lsf] nflu af]g; P]g, @)#) cg'?k af]g;sf] Joj:yf u/]/ cfufdL jif{df e'QmfgL ug{]
Joj:yf k|If]k0f ul/Psf] 5 .
^= cfDbfgL
^=! nfef+z cfo sDkgLn] nufgL u/]sf] kl/of]hgfx?n] cfkm\gf] ;'?jftL k|If]k0f adf]lhd nfef+z ljt/0f ug{]
k|If]k0f ul/Psf] 5 . gofF kl/of]hgfn] nufgL u/]/ kl/of]hgf ;dfkg ePsf] csf{] jif{ b]lv dfq
nfef+z ljt/0f ug{] k|If]k0f ul/Psf] 5 .
cGo nufgLn] cf};tdf % k|ltzt nfef+z ljt/0f ug{] cg'dfg ul/Psf] 5 .
^=@ Jofh cfo Aofh cfo ;a} k|If]lkt jif{x?df d'2tL lgIf]ksf] cf};tdf * k|ltzt Jofh cfh{g ug{] cg'dfg 5
.
&= vr{
&=! x|f; vr{ sDkgLsf] lgodfg';f/ x|f; vr{ nfUg] cg'dfg ul/Psf] 5 .
tna vr{ afx]s ;a} k|zf;lgs vr{x¿ cl3Nnf] aif{sf] vr{df d'b|fl:kmtL b/ cyf{t %=^% k|ltztn]
a[l4 x'g] cg'dfg ul/Psf] 5 .
k|zf;lgs vr{ tna vr{ x/]s aif{ !) k|ltztn] a9\g] cg'dfg ul/Psf] 5 .
z]o/ hf/L x'g] aif{df -@)&^÷&&_ z]o/ hf/L sf] nfuL ? #% nfv 5'§fOPsf] 5 / of] /sd ;f]lx
&=@ jif{df vr{ n]vfÍg ug{] cg'dfg ul/Psf] 5 .
&=# nufgLDff x|f;sf] nufgLDff x|f;sf] ;+efjgfsf] nflu Joj:yfnfO{ nufgL ljqmL ePkl5 ;dfof]hg ug{] k|If]k0f ul/Psf]
;+efjgfsf] nflu 5 .
Joj:yf
*= sDkgLn] cfkm\gf] cl3Nnf] ;dofjlwsf] gfkmfaf6 ;Dk"0f{ 36fpg'kg{] vr{x? 36fP/ nfef+z ljt/0f
nfef+z ljt/0f
ug{] cg'dfg ul/Psf] 5 .
k|If]lkt ljQLo ljj/0fsf] k|d'v ;'rsfÍdf j[l4 -36L_ M

k|If]lkt
ljj/0f
2076/77 2077/78 2078/79

nfef+z cfodf j[l4 -51.19% 9677.40% 75.78%

28
 Jofh cfodf j[l4 45.63% -35.70% -49.88%
k|zf;lgs vr{df j[l4 3.50% 6.60% 3.23%
g]6jy{df j[l4 42.96% 1.30% 0.87%
g]6jy{df k|ltkmndf j[l4 0.07% 60.97% 27.94%
k|lt z]o/ cfDbfgLdf j[l4 16.91% 38.60% 29.06%
nfef+z ljt/0fdf j[l4 1089.11% 48.15% 70.00%
g]6jy{
jf:tljs -?= xhf/df_ k|If]lkt -?= xhf/df_
ljj/0f
2073/74 2074/75 2075/76 2076/77 2077/78 2078/79
1,132,682.1
r'Qmf kF"hL 735,698.90 768,444.70 792,877.50 1,132,682.10 1,132,682.10
0
z]o/ k"FhLsf]] nflu cu|Ld e'QmfgL 1,125.00 - - - - -

hu]8f tyf sf]ifx? 32,573.57 25,967.70 16,319.22 24,170.93 39,255.19 49,447.24

1,182,129.3
hDdf 769,397.47 794,412.40 809,196.72 1,156,853.03 1,171,937.29
4
ckn]vg x'g aFfsL vr{ - - - - - -
1,182,129.3
s'n g]6jy{ 769,397.47 794,412.40 809,196.72 1,156,853.03 1,171,937.29
4
z]o/ ;+Vof -…))) df_ 7,356.99 7,684.45 7,928.78 11,326.82 11,326.82 11,326.82

efl/t z]o/ ;+Vof -…))) df_

-g]kfn n]vfdfg adf]lhd u0fgf
ul/Psf]_ 6,435.56 7,602.58 7,867.69 9,627.80 11,326.82 11,326.82
k|lt z]o/ g]6jy{ -?=_ 104.58 103.38 102.06 102.13 103.47 104.37

v'b gfkmf -gf]S;fg_ 14,344.88 25,967.70 16,176.43 23,142.92 37,737.90 48,703.24

k|lt z]o/ cfDbfgL -?=_ ** 1.95 3.38 2.04 2.04 3.33 4.3

k|lt z]o/ cfDbfgL -?=_ ***

-g]kfn n]vfdfg adf]lhd u0fgf
ul/Psf]_ 2.23 3.42 2.06 2.4 3.33 4.3
g]6jy{df k|ltkmn -Ü_ 1.86% 3.27% 2.00% 2.00% 3.22% 4.12%

g]6jy{df k|ltkmn -Ü_

-g]kfn n]vfdfg adf]lhd u0fgf
ul/Psf]_ 2.13% 3.30% 2.01% 2.35% 3.22% 4.12%
k|lt z]o/ r'Qmf k"FhL -?=_ 100 100 100 100 100 100

*k|If]lkt ljQLo ljj/0f sDkgL cfkm}n] tof/ kf/]sf] xf] . ;f] ljQLo ljj/0fx? cf}lrTok"0f{ / oyfy{k/s /x]sf] k|dfl0ft ug{]
ljz]if1df >]i7 P08 Gof}kfg] P;f]l;P6\; rf6{8{ Psfp06]G6;\sf ;fem]bf/ l;=P= >L k|lz4 Gof}kfg] /xg' ePsf] 5 .
** o;/L k|lt z]o/ cfDbfgL u0fgf ubf{ g]kfn n]vfdfg adf]lhd u0fgf ul/Psf] 5}g . k|lt jif{sf] cfonfO{ z]o/ ;+Vofn] efu
u/]/ u0fgf ul/Psf] 5 . v'b gfkmf g]kfn n]vfdfg adf]lhd Uf0fgf ul/Psf] 5 .
*** o;/L k|lt z]o/ cfDbfgL u0fgf ubf{ g]kfn n]vfdfg adf]lhd efl/t z]o/sf] ;+Vofsf] cfwf/df ul/Psf] 5 . ;f] efl/t
z]o/sf] u0fgfdf cfly{s jif{sf] z'?sf] z]o/nfO{ k"0f{ ef/ / ;f] cfly{s jif{df lgisfzg ul/Psf] ;+:yfks z]o/ tyf af]gz z]o/nfO{
cfwf ef/ lbP/ u0fgf ul/Psf] 5 . v'b gfkmf g]kfn n]vfdfg adf]lhd Uf0fgf ul/Psf] 5 .

-v_ ljut tLg jif{sf] g]6jy{df ePsf] cf}ift k|ltkmnM @=#* k|ltzt

ljut\ tLg jif{sf] g]6jy{df cf}ift k|ltkmn sfod /fVg z]o/ lgisfzg kl5 cfjZos Go'gtd k|ltkmn /sdM ?=
29
@&,%)#=#( -xhf/df_
lgisfzg kl5sf] g]6jy{df lgisfzg k"j{sf] cfDbfgL sfod /fVg cfjZos Go"gtd k|ltkmnM @Ü

-u_cfly{s aif{ ;dfKt ePsf] ^ dlxgf kZrft ljj/0fkq :jLs[tLsf] nflu k]z u/]df pQm cGtl/d cjlwsf] nflu
n]vfkl/Ifsaf6 k|dfl0ft u/]sf] ckl/is[t ljQLo ljj/0fM
cf=a=@)&^÷)&& sf] kf}if d;fGt ;Ddsf] n]vfkl/Ifsaf6 k|dfl0ft u/]sf] ckl/is[t ljQLo ljj/0f b]xfo adf]lhd /x]sf] 5 .
jf;nft
-@)&6 >fj0f ! ut] b]lv @)&6 kf}if d;fGt ;Ddsf]_
ckl/is[t ljQLo ljj/0f
laa/0f
@)&^ kf}if d;fGt
z]o/ k"FhL tyf bfloTj
z]o/ k"+hL tyf hu]8f
z]o/ k"FhL 792,877,500
hu]8f tyf ;+lrt gfkmf 21,642,633
hDdf z]o/ k"+hL tyf hu]8f 814,520,133
rfn' bfloTjx?
ljljw ;fx' tyf cGo bfloTjx? 3,669,063
cfos/sf nflu Aoj:yf 20,055,563
cjsfzsf] nflu Joj:yf 373,014
hDdf rfn' bfloTjx? 24,097,640
hDdf z]o/ k"+hL tyf bfloTj 838,617,773
;DklQ
l:y/ ;DklQ 481,862
hDdf l:y/ ;DklQ 481,862
nufgL 589,098,597
rfn' ;DklQ
gub tyf a}+s df}Hbft 228,169,634
cGo rfn' ;Dklt 601,752
clu|d cfo s/ 20,171,864
8]km8{ cfos/ ;DklQ 94,064
hDdf rfn' ;DklQ 249,037,314
hDdf ;DklQ 838,617,773
gfkmf gf]S;fg lx;fj ->fj0f !, @)&6 b]lv kf}if d;fGt @)&6_
ckl/is[t ljQLo ljj/0f
laa/0f @)&^ kf}if d;fGt
cfDbfgL
nfef+z cfo -
nufgLaf6 cGo k|ltkmn 400,000
Jofh cfDbfgL 10,631,311
Do'r'cn km08df nufgLaf6 k|fKt k|ltkmn
nufgL ljqmLaf6 ePsf] gfkmf -3f6f_
30
 cGo cfDbfgL -
hDdf cfDbfgL 11,031,311
x|f; vr{ 37,490
k|fylds z]o/ lgisfzg vr{ 2,044,023
nufgLDff x|f;sf] ;+efjgfsf] nflu Joj:yf -Joj:yf lkmtf{_ -
k|zf;lgs vr{ 1,851,916
sd{rf/L af]g; / cfos/ cl3sf] gfkmf -gf]S;fg_ 7,097,882
af]g;sf nflu Aja:yf -
cfos/ 1,774,471
:yug cfos/ -
v'b gfkmf -gf]S;fg_ 5,323,412
nfef+z ljt/0f -
nfef+z ljt/0f kl5sf] gfkmf 5,323,412

gub k|jfx ljj/0f ->fj0f !, @)&6 b]lv kf}if d;fGt @)&6_

ckl/is[t ljQLo ljj/0f
laa/0f
@)&^ kf}if d;fGt
-s_ ;+rfng ultljlwsf] gub k|jfx
! af]gz tyf cfos/ cl3sf] gfkmf 7,097,882
;dfof]hg:
x|f; vr{ 37,490
:yug s/sf] nflu Aoa:yf
cGo cf;fdLsf] ;dfof]hg
nufgLsf] nflu Joj:yf
sfo{lzn k"FhL kl/jt{g cl3sf] ;+rfng gub k|jfx 7,135,372
rfn' ;DklQdf ePsf sdL÷-j[l4_ 1,580,819
rfn' bfloTjdf ePsf sdL÷-j[l4_ (3,060,216)
;+rfng ultljlwaf6 v'b gub k|jfx 5,655,976
-v_ nufgL ultljlwsf] gub k|jfx
l:y/ ;DkQL vl/b (363,665)
nufgLdf j[l4 (14,000,000)
nufgL ultljlwaf6 v'b gub k|jfx (14,363,665)
-v_ ljQLo ;|f]t sf/f]af/af6 gub k|jfx
z]o/ k"FhLdf j[l4÷-sdL_ -
nfefFz -
-u_ ljQLo ;|f]t sf/f]af/af6 gub k|jfx -
o; jif{sf] ;Dk"0f{ ultljlwaf6 gub k|jfx -s±v±u_ (8,707,689)

31
 gub tyf a}+sdf /x]sf] z'? df}Hbft 236,877,322
gub tyf a}+sdf /x]sf] clGtd df}Hbft 228,169,634

!)=lwtf]kq lgisfzg ;DaGwL ljj/0f M

s_ lwtf]kq hf/L ug'{sf] p2]Zo M
sDkgLsf] k|aGwkq tyf lgodfjnLdf Joj:yf eP cg';f/ o; ljj/0fkq dfkm{t hf/L kF"hLsf] #) k|ltzt cyf{t ?
33,98,04,600÷—-cIf/]kL t]lQ; s/f]8 cG7fGgAa] nfv rf/ xhf/ 5 ;o ?k}+of dfq_ sf] ##,(*,)$^ lsQf ;fwf/0f z]o/df
;j{;fwf/0fsf] ;d]t ;xeflutf u/fO{ lghx?nfO{ nufgLsf] cj;/ lbg' d'Vo p2]Zo /x]sf] 5 .
v_ lwtf]kq lgisfzgaf6 k|fKt kF"hLsf] pkof]u M
-s_ lgisfzgaf6 k|fKt x'g] s"n /sdnfO{ s;/L / s'g If]qdf k|of]u ul/g] 5 tt\ ;DaGwL ljj/0f M
lgisfzgaf6 k|fKt x'g] s'n /sdnfO{ sDkgLsf] k|d'v p2]Zo cg'?k ljleGg hnljB't pTkfbg, k|;f/0f tyf ljt/0f ug]{
kl/of]hgfdf sDkgLn] z]o/ jf C0f nufgL ug]{ /x]sf] / ;f]lx cg';f/ sDkgLn] ljleGg hnljB't pTkfbg, k|;f/0f tyf ljt/0f
ug]{ kl/of]hgf ;+rfng ug{] sDkgLx? / cGo k"jf{wf/ ljsf; ug]{ kl/of]hgf ;+rfng ug{] sDkgLx?df ;d]t z]o/ jf C0f k|jfx
ug{sf nflu pkof]u ug{]5 .
o; sDkgLn] nufgL ug{] tflnsf lgDg adf]lhd /x]sf] 5 M
ljj/0f 2076/77 2077/78 2078/79

hnljB't pTkfbg / ljt/0f ug{] kl/of]hgf ;+rfng

10,00,00,000 15,00,00,000 15,00,00,000
ug{] sDkgLdf ul/g] nufgL
Jfflif{s nufgL -?= df_ 10,00,00,000 15,00,00,000 15,00,00,000
s"n ;+lrt nufgL /sd -?= df_ 10,00,00,000 25,00,00,000 40,00,00,000

dflysf] tflnsfdf pNn]lvt nufgL /sdnfO{ ldl8n sflnu08sL xfO8«f]kfj/, 7'nf] vf]nf xfO8«f]kfj/ tyf h'd vf]nf xfO8«f]kfj/
kl/of]hgfdf nufgL ug]{ of]hgf /x]sf] 5 . o; kl/of]hgfsf] ;+lIfKt lja/0f b]xfo adf]lhd /x]sf] 5 .
!=
kl/of]hgf 7'nf] vf]nf xfO8«f]kfj/
8]enk/ ;+o'Qm phf{ k|f=ln
kl/of]hgf :yn DofUbL l:yt tTsflng s'Og]d+ufn] uf=lj=;
hl8t Ifdtf @!=#) d]=jf=
l8hfOg l8:rfh{ &=#) m#÷s
cfp6]h kl5sf] cf}ift aflif{s phf{ pTkfbg !@*=&% GWh
lgdf{0f cjlw # jif{
cfof]hgfsf] k|sf/ glb k|jfxL
s'n kl/of]hgf nfut ?= #,%@,@#,)@,#$%=%*

32
 @=
kl/of]hgf h'd vf]nf xfO8«f]kfj/
8]enk/ ;flgdf xfO8«f]kfj/ lnld6]8
kl/of]hgf :yn bf]nvf l:yt lju' ufpFkfnLsf
hl8t Ifdtf %^ d]=jf=
l8hfOg l8:rfh{ @%=$% m#÷s
cfof]hgfsf] k|sf/ glb k|jfxL
;'Vvfofddf pTkfbg x'g] phf{ (&=$! Gwh -s'n phf{sf] #)Ü_
aiff{ofddf pTkfbg x'g] phf{ @@&=#$ Gwh -s'n phf{sf] &)Ü_
cfp6]h kl5sf] cf}ift aflif{s phf{ pTkfbg #@,$&,%$,)^( KWh
lgdf{0f cjlw # jif{
s'n kl/of]hgf nfut ? !),%## ldlnog

#=
kl/of]hgf ldl8n sfnLu08sL xfO8«f]kfj/
8]enk/ xfO8«f] ;kf]6{ k|f=ln
kl/of]hgf :yn DofUbL l:yt cGgk'0f{ ufpFkfnLsf
hl8t Ifdtf %#=%#( d]=jf=
l8hfOg l8:rfh{ $$=(* m#÷s
cfof]hgfsf] k|sf/ glb k|jfxL
;'Vvfofddf pTkfbg x'g] phf{ (*=(& Gwh
aiff{ofddf pTkfbg x'g] phf{ @!!=^* Gwh
cfp6]h kl5sf] cf}ift aflif{s phf{ pTkfbg #!)=^%^ Gwh
lgdf{0f cjlw $ jif{
s'n kl/of]hgf nfut ? !,)^( ldlnog
-v_ ;fj{hlgs lgisfzg ul/g] lwtf]kq k"0f{ ?kdf laqmL gePdf ;fj{hlgs lgisfzgsf] p2]Zo k|flKt ug{sf] nflu ckgfOg]
j}slNks Joj:yfM
lgisfzg ul/g] ;fwf/0f z]o/sf] ztk|ltzt k|Tofe'lt u/fOPsf] x'gfn] lgisflzt z]o/ k"0f{ ?kdf ljqmL gePklg k|Tofe'ltstf{
åf/f ;sfl/g] 5 .
-u_ cfof]hgfsf] ;~rfng :yfg, cfof]hgf r/0fa4 ?kdf sfof{Gjog ul/g] eP k|To]s r/0fdf nfUg] vr{, s'g} r/0f ;dfKt
e};s]sf] eP ;f] ;DaGwL ljj/0f M nfu' gx'g] .
-3_ cfof]hgf ;DkGg x'g], kl/If0f pTkfbg z'? x'g] / k"0f{ Joj;flos pTkfbg z'? x'g] cg'dflgt ldltM nfu' gx'g] .
-ª_ ;+ul7t ;+:yfn] s'g} pks/0f v/Lb u/]sf] jf ug{ nfu]sf] eP pQm pks/0fsf] d"No jf k|:tfljt d"No, ;Knfo;{sf] gfd /
;Knfo;{;Fu ;Demf}tf ePsf] eP ;f] sf] d"Vo d"Vo a'Fbfx? M g/x]sf] .
-r_ s'g} kf6L{;Fu k|ltlnkL clwsf/, 6«]8dfs{, Ohfhtkq, /f]oN6L, ;xsfo{ ;DaGwdf jf ljQLo jf k|fljlws ;Demf}tf ul/Psf]
eP ;f] sf] k|d'v zt{x? / kf6L{sf] gfd, 7]ufgf ;DaGwL lj:t[t ljj/0fM ;f] gePsf] .
-5_ pTkfbg ;DaGwL cfof]hgf eP, ;f] sf] k|s[lt, k|of]ustf{, k|lt:kwf{, nlIft ;d"x, pTkfbg Ifdtf, ljut jif{x?sf] Ifdtf
pkef]u jf eljiodf ul/g] Ifdtf pkef]u ;DaGwL ljj/0fM nfu' gx'g] .
33
-h_ cfof]hgfsf] nflu cfjZos sRrf kbfy{sf] pknAwtf / To;sf] >f]t M nfu' gx'g] .
-em_ cfof]hgfsf] nflu cfjZos x'g] ljB't, kfgL, Uof;sf] dfqf / To;sf] >f]t M nfu' gx'g] .
-`_ ;fj{hlgs lgisfzgsf nflu ul/g] vr{ k|d'v ?kdf b]xfodf pNn]lvt kIfx?nfO{ lbg] z'Ns ;DaGwL ljj/0f M
-c_ lgisfzg tyf laqmL k|jGwsM
o; ljj/0fkq dfkm{t ;fj{hlgs ?kn] ;j{;fwf/0fdf laqmL ul/g] ;fwf/0f z]o/sf] lgisfzg tyf ljqmL k|jGws;DaGwL sfo{sf
nflu lgo'Qm ;flgdf Soflk6n lnld6]8 k'tnL;8s, sf7df08f}+nfO{ pQm ;]jf k|bfg u/] jfkt Psd'i7 ?= #,)),)))÷–
-cIf/]kL ltg nfv dfq_ ;]jf z'Nssf] ?kdf lbOg]5 .
-cf_ 6«li6 -l8j]Gr/÷a08 lgisfzgsf] xsdf_ M lgisflzt lwtf]kq ;fwf/0f z]o/ ePsf] x'Fbf 6«li6 gePsf] .
-O_ k|Tofe"ltstf{ M
lxdfnog Soflk6n lnld6]8, s'df/L Soflk6n lnld6]8 tyf d]uf Soflk6n dfs{]6\; lnld6]8nfO{ s'n ##,(*,)$^ lsQf z]o/sf]
;fj{hlgs lgisfzgsf] nflu k|Tofe'ltstf{ lgo'Qm ul/Psf] 5 . olb lgisfzg ul/Psf] z]o/ k'/} ljqmL gePdf afFsL /x]sf] z]o/
;sfg{] bfloTj k|Tofe'ltstf{x?sf] x'g]5 . o; ;DalGw lj:t[t ljj/0f tnsf] tflnsfdf pNn]v ul/Psf] 5 .

qm=;+= k|Tofe'ltstf{x?sf] gfd k|Tofe't ul/Psf] lsQf k|Tofe't ul/Psf] /sd ?=

!= lxdfnog Soflk6n lnld6]8 !!,#@,^*@ !!,#@,^*,@))
@= s'df/L Soflk6n lnld6]8 !!,#@,^*@ !!,#@,^*,@))
#= d]uf Soflk6n dfs{]6\; lnld6]8 !!,#@,^*@ !!,#@,^*,@))
s'n ##,(*,)$^ ##,(*,)$,^))

k|Tofe'tLstf{x?nfO{ k|bfg ul/g] k|Tofe'lt z'Ns e'QmfgLsf] /sd tyf zt{

z'Ns /sd
qm=;+ e'QmfgLsf zt{x? z'Ns k|ltztdf
?=
!= lgisfzg ul/Psf] z]o/ k'0f{ ?kdf ljqmL ePdf ! ##,(*,)$^
@
lgisfzg ul/Psf] z]o/ k'0f{ ?kdf ljqmL gePdf lgisfzg ul/Psf] ;Dk'0f{
@= -cltl/Qm ! ^&,(^,)(@
/sddf
k|ltzt_

-O{_ lj1x? M ljQLo k|If]k0f k|dfl0ft ug]{ lj1 n]vfk/LIfs >]i7 P08 Gof}kfg] P;f]l;o6\;, rf6{8{ Psfp06]G6 sf ;fem]bf/ l;P=
>L k|lz4 Gof}kfg] nfO{ ;]jf z'Ns afkt ?= $),)))÷–-cIf/]kL rfln; xhf/ dfq_ e'QmfgL ul/Psf] 5 .
-p_ n]vfkl/IfsM lks]Pkm l6=cf/ pkfWofo P08 sDkgLsf rf6{8{ PsfpG6]G6 >L lty{ /fh pkfWofo nuftf/ ltg cf=j= b]vL
o; sDkgLsf] n]vfk/LIfssf] ?kdf sfo{ ul/ ;Sg'ePsf]n] o; sDkgLsf] ;ftf}+ aflif{s ;fwf/0f ;efaf6 P;= b]jsf]6f P08
sDkgLsf rf6{8{ PsfpG6]G6 >L ;'lgn b]jsf]6fnfO{ ?= !,)),)))÷–-cIf]?kL Ps nfv_ kfl/>lds ;lxt n]vfkl/Ifssf] ?kdf
lgo'Qm ul/Psf] 5 .

34
-pm_ cGo -h:t} ;+sng s]Gb|, lgisfzg a}+s cflb_M
;+sng s]Gb| tyf lgisfzg a}+s nfO{ s'g} lsl;dsf] ;]jf z'Nssf] Aoj:yf ul/Psf] 5}g .
u_ ;fj{hlgs lgisfzgaf6 k|fKt /sdnfO{ kl/of]hgfdf k|of]u ug{ k"j{ cGo s'g} Joj:yf ug{ nfluPsf] 5 eg] tTf\ ;DaGwL
ljj/0f M ;f] gePsf] .
3_ lk|ldoddf lwtf]kq hf/L ug]{ ePdf lk|ldod d"No lgwf{/0f ubf{ ckgfO{Psf] ljlw / cf}lrTo M
o; ljj/0fkq dfkm{t ;j{;fwf/0fnfO{ lgisfzg ul/g] z]o/ lk|ldod d"Nodf geO{ z]o/sf] c+lst d"No ?= !))÷– df lgisfzg
ul/g] 5 .
ª_ lwtf]kqsf] afF8kmfF8, lkmtf{ e'QmfgL tyf ;"rLs/0f ;DaGwL Joj:yf M
-s_ cTolws dfu jf Go"g dfu ePsf] cj:yfdf afF8kmfF8sf] k|ls|of M
o; ljj/0fkq dfkm{t hf/L ul/Psf] ;fwf/0f z]o/ v/Lbsf] nflu cfj]bgstf{x?af6 cTolws dfu eO{ cfPsf] cj:yfdf k|fKt
ePsf cfj]bgx?nfO{ lwtf]kq lgisfzg tyf afF8kmfF8 lgb]{lzsf, @)&$ df ePsf] k|fjwfg cg';f/ cfj]bsx?df lwtf]kq afF8kmfF8
ul/g]5 . olb lgisfzg ul/Psf] z]o/sf] ;+Vof eGbf sd z]o/ v/Lbsf nflu b/vf:t k|fKt x'g cfPdf k|Tofe'ltstf{af6 afFsL
z]o/ ;sfl/g]5 .

-v_ cToflws dfu ePsf] jf afF8kmfF8 gePsf] cj:yfdf lkmtf{ e'QmfgL ;DjGwL Joj:yf M
z]o/ ljqmL aGb ePsf] ldltn] g]kfn lwtf]kq af]8{n] tf]s]sf] ;dofjlw leq z]o/ afF8kmfF8 u/L k"0f{ jf cf+lzs ?kdf
:jLs[t÷c:jLs[t ePsf] Joxf]/f pNn]v u/L lwtf]kq v/Lb -;fj{hlgs lgisfzg_ ;DaGwL lgb]{lzsf, @)&# sf] cg';"lr &
adf]lhdsf] ljj/0f ;DalGwt cf:af (ASBA) ;b:o a}+s tyf ljQLo ;+:yfx?nfO{ pknAw u/fO{g] 5 / ;f]xL ljj/0fsf cg'?k
cf:af ;b:o a}+s tyf ljQLo ;+:yfx?n] afF8kmfF8df gk/]sf] z]o/ jfktsf] /sd ;DalGwt cfj]bsx?sf] /f]Ssf /x]sf] a}+s vftf
km's'jf u/L lkmtf{ ul/lbOg]5 .

-u_ lgj]bg ;fy k|fKt /sdsf] lkmtf{ e'QmfgLdf l9nfO{ ePdf lbOg] Jofhb/ M
lwtf]kq v/Lb -;fj{hlgs lgisfzg_ ;DaGwL lgb]{lzsf, @)&# k"0f{ ?kdf nfu' eO{;s]sf] ;Gbe{df ;f] Joj:yf nfu' gx'g] .
-3_ lwtf]kq afF8kmFf8 tyf k|df0fkq hf/L ;DjGwL k|s[of / ;dofjlw M
lgisfzg ul/g] ;fwf/0f z]o/ k|rlnt lwtf]kq lgisfzg tyf afF8kmfF8 lgb]{lzsf @)&$, ;DaGwL Joj:yf cg';f/ ;fwf/0f
z]o/sf] lgwf{l/t ;do leq afF8kmfF8 u/L g]kfn :6s PS;r]~h lnld6]8df ;"lrs/0f tyf l;l8P; P08 lSnol/Ë lnld6]8df
btf{ eP kZrft cfj]bg kmf/fddf pknAw u/fPsf]] lxtu|fxL vftfdf afF8kmfF8df k/]sf] z]o/ ljt/0f÷hDdf ug]{ Joj:yf ldnfO{g]5
.
-ª_ lwtf]kq ;"rLs/0f eO{ ;s]sf] eP, To:tf] lwtf]kq ;"rLs/0f ul/Psf] lwtf]kq ahf/sf] gfd / lwtf]kqsf] sf/f]jf/ z'? x'gsf]
nflu ;+ul7t ;+:yfn] k"/f ug{‘kg]{ zt{x? ;DjGwL ljj/0f M xfn ;Dd ;"rLs/0f eO{ g;s]sf] .

-r_ lwtf]kq ;"rLs/0f e}g;s]sf] eP, ;+ul7t ;+:yfn] lgisfzg tyf laqmL ul/g] lwtf]kq k|rlnt P]g lgod cg';f/ ;xh
v/Lb, laqmL jf ljlgdo x'g ;Sg] u/fpgsf nflu ul/g] Joj:yf ;DjGwL ljj/0f M
;fj{hlgs lgisfzg ul/g] ;fwf/0f z]o/ ælwtf]kq lgisfzg tyf afF8kmfF8 lgb]{lzsf, @)&$Æ df ePsf] Joj:yf cg';f/ ;fwf/0f
z]o/sf] afF8kmfF8 u/] kZrft g]kfn :6s PS;r]~h lnld6]8df k|rlnt ;"lrs/0f ;DaGwL Joj:yf cg';f/ ;"lrs/0f tyf
l;l8P; P08 lSnol/Ë lnld6]8df lwtf]kq btf{ u/fO{ z]o/ vl/b laqmLsf] Joj:yf ldnfOg]5 .

r_ k|Tofe"lt ;DaGwL ljj/0fM

-s_ lwtf]kq k|Tofe"lt ug]{ ;+ul7t ;+:yfsf] gfd, 7]ufgf / k|Tofe"lt ug]{ lwtf]kqsf] ;+Vof / /sd
qm=;+ k|Tofe'ltstf{sf] gfd 7]ufgf k|Tofe't k|Tofe't
ul/Psf] lsQf ul/Psf] /sd
! lxdfnog Soflk6n ln= lqb]aL dfu{, 7d]n, sf7df08f}F !!,#@,^*@ !!,#@,^*,@))
@ s'df/L Soflk6n ln= gS;fn, sf7df08f}+ !!,#@,^*@ !!,#@,^*,@))
# d]uf Soflk6n dfs{]6\; ln= lqk'/]Zj/, sf7df08f}+ !!,#@,^*@ !!,#@,^*,@))
s'n ##,(*,)$^ ##,(*,)$,^))
35
-v_ lwtf]kq k|Tofe"ltstf{;Fu ul/Psf] ;Demf}tfsf] d'Vo d'Vo a"Fbfx? .
o; ljj/0fkqdfkm{t lgisfzg ug{ nfluPsf] lwtf]kqsf] k|Tofe"ltstf{;Fusf] ;Demf}tfsf d'Vo a'Fbfx? b]xfo adf]lhd /x]sf] 5 .
!= k|Tofe"ltstf{n] ##,(*,)$^ lsQf z]o/sf] nflu k|Tofe"lt ;]jf k|bfg u/]sf] 5 .
@= k|Tofe"ltstf{nfO{ k|Tofe"lt ;]jf k|bfg u/] jfkt sDkgLn] b]xfo adf]lhd z'Ns k|bfg ug]{5 .
qm=;+ k|Tofe'ltstf{nfO{ k|Tofe'lt z'Ns e'QmfgLsf zt{x? z'Ns k|ltzt z'Ns /sd
?=
!= lgisfzg ul/Psf] z]o/ k'0f{ ?kdf ljlqm ePdf . ! ##,(*,)$^
@= lgisfzg ul/Psf] z]o/ k'0f{ ?kdf ljlqm gePdf lgisfzg @ ^&,(^,)(@
ul/Psf] ;Dk'0f{ /sddf . -cltl/Qm ! k|ltzt_
#= o; ljj/0fkq cg';f/ hf/L ul/g] ;fwf/0f z]o/df k|Tofe"ltstf{sf] bfloTj k|Tofe"ltt lsQf z]o/df dfq ;Lldt x'g]5 .
$=o; ljj/0fkq cg';f/ hf/L ul/g] ;fwf/0f z]o/ k"0f{ ?kdf laqmL gePdf dfly pNn]lvt k|Tofe"ltt lsQf df ;Lldt x'g] u/L
v/Lb ug]{ ;xdlt hgfPsf] 5 .
%=o; ;Demf}tf kqsf] cjlw x:tfIf/ u/]sf] ldlt @)&^÷)*÷!^ b]lv Ps aif{ ;Dd dfGo /xg]5 .
^=o; ljj/0fkq cg';f/ hf/L ul/g] ;fwf/0f z]o/ k"0f{ ?kdf laqmL ePsf] hfgsf/L k|fKt eP kZrft ;Demf}tf kq :jtM vf/]h
x'g]5 .
&=pQm cjlwdf s'g} ljjfb pTkGg ePdf cfk;L ;Dembf/Ldf ;dfwfg ul/g]5 t/ ;Dembf/Ldf cfpg g;Sg] cj:yfdf
dWo:tstf{sf] ;xeflutfdf ;dfwfg ul/g] 5 .
-5_+ cfj]bg lb+bf Wofg lbg'kg]{ s'/fx?
-s_ lwtf]kqjfnfsf] clwsf/ tyf k|ltaGwfTds Joj:yfx? Hf:t} dtflwsf/, nfef+z, xsk|b z]o/, lwtf]kqjfnfsf] clwsf/df
kl/jt{g ug]{ k|s[of tyf lwtf]kqsf] vf/]hL cflb ;DjGwL ljj/0f M
!=o; ljj/0fkq dfkm{t lgisfzg ul/g] ;fwf/0f z]o/ afF8kmfF8 u/] kZrft sfod x'g] z]o/wgLx?n] ;j{;fwf/0f z]o/wgLx?sf]
tkm{af6 lgjf{lrt x'g] ;+rfnsx?sf] lgjf{rgsf] xsdf dfq efu lnO{ dtbfg ug{ kfpg]5g\ .
@=k|rlnt sDkgL sfg"g tyf g]kfn lwtf]kq af]8{sf] af]g; z]o/ ;DaGwL lgb]{lzsfsf] clwgdf /xL sDkgLn] cfh{g u/]sf]
d'gfkmfaf6 af]g; z]o/ jf nfef+z ljt/0f ug{ ;Sg]5 / cfjZostf cg';f/ g]kfn lwtf]kq af]8{ tyf cGo ;DalGwt lgodg
lgsfox?sf] :jLs[tL lnO{ xsk|b z]o/ ;d]t hf/L ug{ ;Sg]5 .

-v_ lgodfjnL, k|jGwkq k|fKt ug]{ jf x]g{ ;lsg] 7fpF, e'QmfgL ug]{ tl/sf, lng'kg]{ Go"gtd lwtf]kq ;+Vof / ;f] eGbf dfly lng]
ePdf s'g u'0ff‹df lng ;lsg] xf] ;f] ;DaGwL ljj/0f M
!= sDkgLsf] k|jGw—kq tyf lgodfjnL sDkgLsf]] /lhi68{ -s]Gb|Lo_ sfof{no k|b]z g+= #, sf7df08f}+ lhNnf, rfjlxn Knfhf t];|f]
tNnf, rfjlxn / o; lgisfzg sfo{sf nflu lgo'Qm lwtf]kq lgisfzg tyf laqmL k|jGws >L ;flgdf Soflk6n lnld6]8, k|b]z
g+= #, sf7df08f}+ lhNnf, z]o/ dfs{]6\; sdlz{on sDKn]S; bf];|f] tNnf, k'tnL;8sdf sfof{no ;doleq ;Dks{ /fvL k|fKt ug{
;lsg]5 .
@= k|To]s cfj]bsn] sDtLdf !) -bz_ lsQf z]o/ v/Lbsf nflu cfj]bg lbg'kg]{5 . !) -bz_ lsQfeGbf a9L z]o/sf nflu
cfj]bg lb+bf !) -bz_ cÍsf] u'0fg ;+Vofdf clwstd #!,^),!*) lsQf a/fa/sf] ?= #!,^),!*,))).– -cIf/]kL Pslt; s/f]8
;fl7 nfv c7f/ xhf/ dfq_ ;Ddsf] z]o/sf nflu cfj]bg lbg ;lsg]5 .

-u_ cfj]bg lb+bf kfngf ug{'kg]{ zt{ aGb]hx? h:t} Ps eGbf a9L b/vf:t lbg gkfOg], nufgLstf{sf] klxrfgsf] nflu
gful/stf÷hGdbtf{sf] k|dfl0ft k|df0fkqsf] k|ltlnlk k]z ug{‘kg]{ jf lwtf]kq bnfn Joj;foLn] lbPsf] u|fxs kl/ro kq /
;DjlGwt Joj;foLsf] gfd v'nfpg'kg]{ / a}+s vftf dfkm{t sf/f]jf/ ul/g'kg]{ h:Tff kIfx?
!=s'g} klg g]kfnL÷u}x| cfjfl;o g]kfnL gful/sn] o; ljj/0fkq cg';f/ hf/L ul/g] z]o/ v/Lb ug{ cfj]bg lbg ;Sg]5g\ .
@=cf:jf k|0ffnL cGtu{tsf] cfj]bg lbFbf eg'{kg]{ cg';"rL $ sf] ;Dk"0f{ ljj/0fx? :ki6 ?kdf v'nfpg' kg]{5 -h:t}M cfj]bssf]
lxtu|fxL vftf g+, a}+ssf] vftf g+=, gfd, y/, 7]ufgf, ;Dks{ g+= gful/stf g+=, lwtf]kq lgisfzg sDkgLsf] gfd, v/Lb ug{
rfx]sf] lwtf]kqsf] ;+Vof, v/Lb ug{ rfx]sf] lwtf]kqsf] /sd cflb_ .
#=cfj]bsx?n] cfj]bg lb+bf cf:jf ;b:o a}+sx?df /x]sf] cfj]bg jfktsf] /sd /f]Ssf /flvg] vftf cGo s'g} k|sf/n] /f]Ssf
/x]sf] jf lgliqmo (Dormant) /x]sf] x'g'x'Fb}g .
$= cfj]bg lbPsf] /sd a/fa/sf] /sd vftfdf x'g' kg]{5 .
36
%=ælwtf]kq v/Lb -;fj{hlgs lgisfzg_ ;DaGwL lgb]{lzsf, @)&#Æ cg'?k cf:af (ASBA) ;b:o a}+s tyf ljQLo ;+:yfaf6
cfj]bg lbg] cfj]bsx?sf ;DjlGwt a}+s tyf ljQLo ;+:yfn] g} afF8kmfF8df gkg]{ nufgLstf{sf] lwtf]kq v/Lbsf] cfj]bg adf]lhd
/f]Ssf /fv]sf] vftfsf] /sd dfq /f]Ssf km's'jf ul/lbg]5 .
^=Ps JolQmn] cfkm"n] vl/b ug{ rfx]sf] ;fwf/0f z]o/sf] nflu Ps eGbf a9L b/vf:t lbg] kfOg] 5}g . olb Ps JolQmsf] gfddf
Ps eGbf a9L cfj]bg k|fKt x'g cfPdf ;Dk"0f{ b/vf:tnfO{ /2 ul/g]5 .
&=z]o/sf] afF8kmfF8 u/L ;"lrs/0f eP kZrft afF8kmfF8df k/]sf cfj]bsx?nfO{ afF8kmfF8df k/]sf] z]o/ lghx?sf] lxtu|fxL
vftfdf hDdf ug{] Joj:yf ul/g] ePsfn] ;Dk"0f{ cfj]bsx?n] clgjfo{ ?kdf cfˆgf] lxtu|fxL vftf g+= cfj]bg kmf/ddf pNn]v
ug'{kg{]5 .
*=l/tk"j{s k|fKt gePsf] b/vf:t tyf cfj]bg kmf/ddf pNn]v ePsf] lxtu|fxL vftf g+= / cfj]bssf] gfd l;l8P;;Lsf]
clen]vdf km/s k/]sf] kfO{Pdf ;f] kmf/dnfO{ z]o/ afF8kmfF8 df ;dfj]z ul/g] 5}g / ;f] sf] lhDd]jf/ b/vf:tjfnf :jo+ x'g]5
.
!! ;DalGwt kIf aLrsf] sf/f]af/ ;DaGwL ljj/0fM
lgisfzgstf{ ;+ul7t ;+:yf / lgDg lnlvt kIf aLr ljut @ aif{sf] cjlwdf s'g} k|sf/sf] j:t'ut sf/f]jf/ ePsf] jf s'g}
sf/f]jf/ ug{ k|:tfj ul/Psf] eP sf/f]jf/df ;+nUg JolQmx?sf] gfd, ltgLx?sf] ;+ul7t ;+:yf;Fusf] ;DaGw, sf/f]af/sf] k|s[lt
/ /sd M
-s_ ;+ul7t ;+:yfsf] sfo{sf/L clws[t jf ;~rfnssf] ?kdf /x]sf] JolQmM ;f] gePsf] .

-v_ cfwf/e"t z]o/wgLM ;f] gePsf] .

-u_ v08 -s_ / -v_ df pNn]lvt s'g} JolQmsf] Psf3/ kl/jf/sf] ;b:o M ;f] gePsf] .

-3_ ;+ul7t ;+:yfsf] sfo{sf/L clws[t jf ;~rfns jf cfwf/e"t z]o/wgLn] #) k|ltzt jf ;f] eGbf a9L dtflwsf/ x'g] u/L
z]o/ :jfldTj u|x0f u/]sf] sDkgL jf ;+ul7t ;+:yf M ;f] gePsf] .

-ª_ ;+ul7t ;+:yfsf] jf o;sf] ;xfos sDkgLn] xfnsf] ;~rfns jf lghsf] Psf3/ kl/jf/sf] ;b:osf nflu s'g} sf/f]af/ jf
;Demf}tf u/]sf] 5 eg] ;f] jf ljj/0fkq k|sfzg ug'{ eGbf # jif{ cufl8sf] cjlwdf ljQLo ;+:yfsf]] ;~rfns jf ;~rfnssf]
Psf3/ kl/jf/sf] ;b:osf nflu s'g} sf/f]af/ jf ;Demf}tf u/]sf] eP ;f] s'/fM ;f] gePsf] .

-r_ s'g} ;~rfns jf ;~rfnssf] Psf3/ kl/jf/sf] ;b:onfO{ s'g} C0f lbPsf] jf lgh;Fu lnPsf] eP pQm C0f ;DaGwL
lj:t[t ljj/0f h:t} C0f afkt lnPsf] /sd, C0fsf] Jofhb/, C0f lnPsf] ldlt, C0f e'QmfgL cjlw cflbsf] ljj/0fM ;f] gePsf].

!@=ljb]zL nufgL / Joj:yfkg ;DaGwL ljj/0f

ljb]zL nufgL / Joj:yfkgdf ;+ul7t ;+:yf ;+rfng x'g] eP ;f] sf] ljj/0fsf ;fy} ;DalGwt ;Demf}tfsf] d'Vo tyf tflTjs
a'Fbfx? M ;f] gePsf] .

!#=;"rLs[t ;+ul7t ;+:yfn] ;fj{hlgs lgisfzg ug]{ ePdf ;f] ;DaGwL ljj/0f M
-s_ ;+ul7t ;+:yfsf] ljut # cfly{s jif{sf] q}dfl;s cjlwsf] pRrtd, Go"gtd, clGtd ahf/ d"Nosf ;fy} sf/f]af/ ePsf]
z]o/ ;+Vof M ;f] gePsf] .
-v_ af]8{df ljj/0fkq btf{sf] nflu k|:t't ug'{eGbf ^ dlxgf cufl8sf] cjlwsf] dfl;s ?kdf pRr, Go"g / clGtd d"Nosf ;fy}
k|To]s dlxgfdf sf/f]af/ ePsf] s'n lbg / s'n sf/f]af/ ePsf] lwtf]kqsf] ;+Vof M ;f] gePsf] .
!$=kl5Nnf] ;fj{hlgs lgisfzgsf] cg'dfg tyf pknAwL ;DaGwL ljj/0f
;+ul7t ;+:yfn] o; eGbf cuf8L lwtf]kq lgisfzg ubf{ tof/ u/]sf] ljj/0fkq jf cGo ljj/0fx?df pNn]lvt ul/Psf nIo
tyf sfo{qmdx? tyf v'b d'gfkmf xfl;n ug{ ;s]÷g;s]sf], g;s]sf] cj:yfdf nIo tyf sfo{qmdsf ;fy} ljj/0fkq jf cGo
ljj/0fx?df k|If]lkt v'b d'gfkmf eGbf aL; k|ltzt jf ;f] eGbf a9Ln] Go"g x'g uPsf] eP o;/L km/s kgf{sf] sf/0f M ;f]
gePsf] .

37
!%= k/fdz{bftf÷ljz]if1 ;DaGwL ljj/0fM
s_ n]vfk/LIfs÷ k|d'v a}+s, lgisfzg sfo{ ;Fu ;+nUg a}+s, k|If]lkt ljQLo ljj/0f 7Ls 5 egL k|dfl0ft ug]{ lj1 cflbsf] gfd
tyf 7]ufgf
c_ n]vfk/LIfs M
sDkgLsf] cf=j=@)&%÷&^ sf] cfDbfgL vr{ lx;fa tyf jf;nftsf] n]vfk/LIf0f n]vfk/LIfs PKF T.R. Upadhya and
Company sf Chartered Accountants sf >L lty{/fh pkfWofon] ug'{ePsf] 5 .
cf_ k|d'v a}+s
o; lgisfzgsf] nflu k|d'v a}+ssf] Aoa:yf ul/Psf] 5}g .
O_ k|If]lkt ljQLo ljj/0fsf] cg'dfg tyf cfwf/x? k'g/fjnf]sg u/L ljj/0f 7Ls 5 egL k|dfl0ft ug]{ lj1M
o; ljj/0fkqdf pNn]lvt ljQLo ljj/0f tyf k|If]k0fsf] cg'dfg tyf cfwf/x? k'g/fjnf]sg u/L ;f] cfwf/df tof/ ul/Psf
ljQLo k|If]k0fsf ljj/0f oyfy{k/s /x]sf] egL k|dfl0ft ug]{ ljz]if1df n]vfk/LIfs >]i7 P08 Gof}kfg] P;f]l;o6\;, rf6{8{
Psfp06]G6 sf ;fem]bf/ l;P= k|lz4 Gof}kfg] /xg' ePsf] 5 .
O{_ lgisfzg a}+s(Bankers to the Issue)
o; lgisfzgsf] nflu lgisfzg j}+s lgo'Qm ul/Psf] 5}g .

-v_ dfly v08 -s_df pNn]lvt ;+:yf jf JolQm;Fu ePsf] ;xdltsf d'Vo d'Vo aF"bf tyf zt{x?M
!=n]vfk/LIfs M ;f] gePsf] .

@=lgisfzg a}+s (Banker to the Issue)M lwtf]kq v/Lb -;fj{hlgs lgisfzg_ ;DaGwL lgb]{lzsf, @)&# k"0f{ ?kdf nfu'
eO{;s]sf] ;Gbe{df ;f] Joj:yf nfu' gx'g] .

#= k|If]lkt ljQLo ljj/0f k|dfl0ft ug]{ lj1M s'g} zt{x? g/x]sf] .

!^= cfof]hgf ;DkGg ug{sf] nflu ;fj{hlgs lgisfzg afx]s cGo ljQLo >f]tx? k|of]u ul/Psf] 5÷5}g, tTf\ ;DaGwL ljj/0fM
;f] gePsf] .

!&= d'2f tyf ljjfb ;DaGwL ljj/0f M

-s_ ;+ul7t ;+:yfsf] t/ntf, df}Hbft, sfo{ ;+rfngdf tflTjs c;/ kg]{ vfnsf] s'g} d'2fdfldnf jf ljjfb eP ;f] ;DaGwL
ljj/0f tyf pk/f]Qm d'2f jf ljjfbsf] sf/0faf6 kg{ ;Sg] k|efj ;DaGwdf Joj:yfkgsf] wf/0ff M;f] gePsf] .

-v_ ;+ul7t ;+:yfnfO{ c;/ kg]{ u/L ;+:yfsf] ;+:yfks÷;~rfnsn] jf nfO{ bfo/ ul/Psf] d'2f ;DaGwL ljj/0fM;f] gePsf] .

-u_ ljut kfFr jif{df ;+ul7t ;+:yfsf] s'g} ;+:yfks÷;~rfns sfnf];"rLdf k/]sf] jf s'g} g}lts jf cfly{s sf/0faf6 s'g}
lgodg lgsfo jf cbfntn] ;hfo u/fPsf] eP, To:tf] ;+:yfks÷;~rfnssf] gfd / ;hfo ug]{ lgodg lgsfo jf cbfntsf]
gfd ;DaGwL ljj/0f M;f] gePsf] .

-3_ ;+ul7t ;+:yf a}+s jf ljQLo ;+:yfdf C0f glt/L l8kmN6 ePsf], lgod cg';f/sf] z'Ns glt/]sf], lwtf]kqjfnfx?sf] s'g}
/sd e'QmfgL gul/Psf] eP tt\;DaGwL ljj/0fx? M ;f] gePsf] .
!*=u'gf;f] ;'Gg] / ;dfwfg ug]{ k|s[of M
lgisflzt lwtf]kq ;DaGwL nufgLstf{x?sf] u'gf;f] tyf ;'emfj ;'Gg tyf ;f] sf] ;dfwfgsf nflu lwtf]kq lgisfzg tyf laqmL
k|jGws ;flgdf Soflk6n lnld6]8, k'tnL;8s, sf7df08f}+df Pp6f 5'§} sIfsf] Joj:yf ul/Psf] 5 . s'g}klg nufgLstf{n] o;
lgisfzg;Fu ;DalGwt ljifodf s'g} u'gf;f] jf ;'emfjsf nflu ;flgdf Soflk6n lnld6]8sf lgod kfngf clws[t >LdtL /ZdL
l/hfnnfO{ lghs} sfo{sIfdf jf sfof{no ;doleq )!–$@@(!@$÷!@% -PS;= @@*_ df ;Dks{ ug{ ;lsg]5 .
!(= gub glnO{ s;}nfO{ lwtf]kq lgisfzg ul/Psf] 5 eg] To:tf] JolQm jf ;d"xsf] gfd, v/Lb ul/Psf] ;DklQ jf ;]jf ;DaGwL
ljj/0f, lgisfzg ul/Psf] lwtf]kqsf] ;+Vof / b/ ;DaGwL ljj/0f M;f] gePsf] .

@)= C0fkq lgisfzg ;DaGwL ljj/0fM

38
xfn;Dd sDkgLn] C0fkq lgisfzg u/]sf] 5}g .
@!=cu|flwsf/ z]o/ lgisfzg ;DaGwL ljj/0fM
xfn;Dd sDkgLn] cu|flwsf/ z]o/ hf/L u/]sf] 5}g .

@@=cGo ;fdfGo hfgsf/L M

-s_ ljz]if1sf] s'g} /fo ePdf, ;f] sf] ljj/0fM k|If]lkt ljQLo ljj/0fdf lj1n] lgDg adf]lhdsf] /fo k]z ug{'ePsf] 5 M
“ljQLo k|If]k0f ljut jif{x?sf] jf:tljs cfFs8f tyf cfpFbf] jif{sf] ;+rfng of]hgfsf] cfwf/df ;+:yfsf] Joj:yfkgn] tof/
kf/]sf] xf] / pQm k|If]lkt ljj/0f ;+UnUg ul/Psf k|d'v cg'dfgx? Afdf]lhd tof/ kfl/Psf] 5 egL k|df0fLs/0f u/]sf 5f}F .”

-v_ ut tLg cfly{s jif{ leqdf s'g} ;~rfns, n]vfk/LIfs kl/jt{g ePsf] eP, ;f] sf] sf/0f M
cf=j= @)&#.&$, @)&$.&% / @)&%.&^ df jfli{fs ;fwf/0f ;efaf6 n]vfk/LIfs PKF T.R. Upadhya and Company
Chartered Accountants sf >L lty{/fh pkfWofo lgo'Qm x'g'ePsf] lyof] . >L lty{ /fh pkfWofo nuftf/ ltg cf=j b]vL
o; sDkgLsf] n]vfk/LIfssf] ?kdf sfo{ ul/ ;Sg'ePsf]n] o; sDkgLsf] ;ftf}+ aflif{s ;fwf/0f ;efaf6 P;= b]asf]6f P08
sDkgLsf rf6{8{ PsfpG6]G6 >L ;'lgn b]jsf]6fnfO{ n]vfkl/Ifssf] ?kdf lgo'Qm u/]sf] 5 .
-u_ sDkgL ;lrjsf] gfd, 7]ufgf / of]UotfM
ef]hk'/, af:tLd–^ df :yfoL a;f]af; /xg' ePsf >L alb| ljzfn l3ld/] sDkgLsf] sDkgL ;lrjsf] ?kdf sfo{/t x'g'x'G5 . >L
alb| ljzfn l3ld/]n] lqe'jg ljZjljBfnoaf6 sfg'gdf :gfts ;Ddsf] z}lIfs of]Uotf xfl;n ug'{ePsf] 5 .

-3_ ;fj{hlgs lgisfzg ug{sf nflu ;~rfns ;ldltaf6 ePsf] lg0f{o ;DaGwL ljj/0fM
sDkgLsf]] ldlt @)&$÷)^÷@% ut] a;]sf] ;~rfns ;ldltsf] a}7saf6 ;j{;fwf/0fsf] nflu 5'§fOPsf] ;fwf/0f z]o/ dWo] ?=
##,(*,)$,^))÷— a/fa/sf] ?=!))÷—c+lst b/sf] ##,(*,)$^ lsQf ;fwf/0f z]o/ ;j{;fwf/0fx? -sd{rf/L ;d]t_ sf] nflu
lgisfzg ug{] lg0f{o ul/Psf] 5 . ;fy} ;f] sfo{sf] nflu ;flgdf Soflk6n lnld6]8, k'tnL;8s, sf7df08f}+nfO{ lwtf]kq lgisfzg
tyf laqmL k|aGwsdf lgo'Qm ug]{] lg0f{o ul/Psf] 5 .
-ª_ ;+ul7t ;+:yf jf o;sf z]o/wgLnfO{ s'g} ljz]if s/ ;'ljwf lbOPsf] eP, ;f] ;DaGwL ljj/0fM
;+ul7t ;+:yf jf o;sf z]o/wgLnfO{ s'g} ljz]if s/ ;'ljwf lbOPsf] 5}g .

-r_ ;+ul7t ;+:yfsf] kl5Nnf] cfly{s jif{sf] n]vfk/LIf0f ePsf] jf;nft, gfkmf gf]S;fg lx;fj / gub k|jfx ljj/0f k|fKt ug{
jf x]g{ ;Sg] 7fpF / ;doM
sfof{no ;doleq lgDg lnlvt :yfgx?df sDkgLsf] kl5Nnf] cfly{s jif{sf] n]vfk/LIf0f ePsf] jf;nft, gfkmf–gf]S;fg lx;fj
tyf gub k|jfxsf] ljj/0f k|fKt ug{ jf lg/LIf0f ug{ ;lsg] 5 .
!= sDkgLsf] /lhi68{ -s]Gb|Lo_ sfof{no, rfjlxn, rfjlxn Knfhf– t];|f] tnf, sf7df08f}+ .
@= lwtf]kq lgisfzg tyf laqmL k|jGws– ;flgdf Soflk6n lnld6]8, z]o/ dfs{]6\; sdlz{on sDKn]S; bf];|f] tnf, k'tnL;8s,
sf7df08f}+ .
-5_ af]g; z]o/ ;DaGwL Joj:yf M
sDkgLn] cf=j= @)&#.&$ df $=@! k|ltzt / cf=j= @)&$.&% df #=!* k|ltzt af]g; z]o/ hf/L u/]sf] 5 .
-h_ z]o/jfnf, sd{rf/L jf c? s;}sf] nflu z]o/ ;'/lIft ug]{ Joj:yf ul/Psf] ePdf ;f] s'/f M
o; ljj/0fkqåf/f lgisfzg ul/Psf] k|lt ;fwf/0f z]o/ ?=!)).— clÍt d"No (Par Value) sf] s'n ##,(*,)$^ lsQf ;fwf/0f
z]o/dWo] @ k|ltzt cyf{t 67,961 lsQf ;fwf/0f z]o/ sDkgLsf] ;]jfdf /x]sf sd{rf/Lx?nflu ;'/lIft ul/Psf] tyf % k|ltzt
cyf{t 1,69,902 lsQf ;fwf/0f z]o/ ;fd'lxs nufgL sf]ifx?nfO{ afF8kmFf8 ul/g]5 . o;/L 5'6\ofOPsf] z]o/ sd{rf/Lx?df
sDkgLsf] ;+rfns ;ldltn] cf}lrTok"0f{ tj/af6 afF8kmfF8 ug]{5 / sd{rf/Lx?af6 ;Dk"0f{ z]o/sf nflu dfu eO{ gcfPsf
cj:yfdf afFsL z]o/ ;j{;fwf/0fdf afF8kmfF8 ul/g]5 .

-em_ sDkgLn] sDkgL P]gn] u/]sf] Joj:yfx?, cfˆgf] sf/f]af/;Fu ;DalGwt P]g, lgod tyf lgodg Joj:yf k"0f{ kfngf u/]sf]
;DaGwdf u/]sf] pb\3f]if0f M

39
sDkgLn]] sDkgL P]g, @)^# n] u/]sf] Joj:yfx?, cfkm"n] ug]{ Joj;fo;Fu ;DalGwt P]g, lgod tyf lgodg Joj:yf tyf lgodg
lgsfox?n] lbPsf] lgb]{zgx?sf] k"0f{ ?kdf kfngf u/]sf] 5 / ;f]xL lgb]{zgx?sf] bfo/f leq /xL sfo{ ul//x]sf] / o; ljj/0fkqdf
pNn]v ul/Psf] ljj/0fx? ;d]t ;f]xL cg'?k tof/ ul/Psf] xf] eGg] sDkgLsf] pb\3f]if0f /x]sf] 5 .

-`_ lwtf]kq ljqmL ljt/0f ;DaGwL Joj:yf M

o; ljj/0fkq dfkm{t lgisflzt ;fwf/0f z]o/ laqmL ljt/0fsf nflu cf:jf ;b:o k|fKt a}+s tyf ljQLo ;+:yfx?sf b]z e/L
km}lnP/ /x]sf tf]lsPsf zfvfx? dfkm{t cfj]bg lbg;Sg] Joj:yf /x]sf] 5 .

-6_ qm]l86 /]l6Ë ;DaGwL Joj:yfM

af]8{af6 qm]l86 /]l6Ë ;DaGwL sfo{ ug{ cg'dlt k|fKt ;+:yf s]o/ /]l6Ë;\ g]kfn lnld6]8(CARE RATINGS NEPAL LTD.)n]
o; sDkgLåf/f hf/L ug{ nfu]sf] k|fylds z]o/sf] ;fj{hlgs lgisfzgnfO{ ldlt @)&^÷)$÷@* df …CARE-NP IPO Grade 4Ú
k|bfg u/]sf] 5 / of] @)&&÷)$÷@& ;Dd dfGo x'g]5 . …CARE-NP IPO Grade 4Ú n] cf}ift eGbf tnsf] cfwf/x? -Below-
Average Fundamentals _ nfO{ hgfpbF5 . s]o/ /]l6Ë;\ g]kfnn] ! b]lv % KjfOG6 u|]l8Ë k|bfg ub{5 . h;df u|]8 ! n] alnof
cfwf/ hgfpF5 eg] u|]8 % n] sdhf]/ cfwf/x? hgfpF5 . u|]8 @, # / $ df k|of]u ul/g] + (Plus) lrGxn] o; ;d"xsf
t'ngfTds ;sf/fTds l:ytLnfO{ hgfpF5 .

-7_ ljj/0fkq tof/ ug]{ Joj;foLs ;+:yfsf] gfd / 7]ufgf ;DaGwL ljj/0f M
o; ljj/0fkq tof/ kfg]{ Jofj;flos ;+:yfdf lgisfzg tyf laqmL k|jGws – ;flgdf Soflk6n lnld6]8, z]o/ dfs]{6\; sdlz{on
sDKn]S; bf];|f] tNnf k'tnL;8s, sf7df08f}+ /x]sf] 5 .

-8_ sDkgLsf] k|jGwkq / lgodfjnL k|fKt ug{ ;lsg] 7fpF M

o; sDkgLsf] k|jGwkq tyf lgodfjnL sfof{no ;do leq sDkgLsf] /lhi68{ sfof{no, k|b]z g+ #, sf7df08f} lhNnf, rfjlxn
Knfhf t];|f] tNnf / o; lgisfzg sfo{sf nflu lgo'Qm lwtf]kq lgisfzg tyf ljlqm k|jGws ;flgdf Soflk6n lnld6]8 z]o/
dfs]{6\; sdlz{on sDKn]S; bf];|f] tnf k'tnL;8s sf7df08f}+df sfof{no ;doleq ;Dks{ /flv k|fKt ug{ ;lsg]5 .

-9_ z]o/ /lhi6«f/ ;DaGwL Joj:yf M

g]kfn :6s PS;r]Gh lnld6]8df ;"rLs/0f u/] kZrft\ z]o/sf] bflvn vf/]h, b:tvt ?h' cflb ;DaGwL sfo{ o; sDkgLsf]
sfof{noaf6 jf sDkgLsf] ;~rfns ;ldltn] tf]s] adf]lhd z]o/ /lhi6«f/sf] sfof{noaf6 x'g] u/L Joj:yf ul/g]5 .

-0f_ lwtf]kq laqmL v'Nnf cjlw M

o; ljj/0fkqåf/f lgisfzg ul/g] z]o/sf] nflu cfj]bg lng] sfo{ sDtLdf $ -rf/_ sfo{lbgsf] nflu v'Nnf ul/g]5 . ;f]
cjlwleq lgisfzg ul/Psf] ;a} lwtf]kq laqmL gePdf b/vf:t v'Nnf ePsf] ldltn] al9df !%-kGw|_ lbgsf nflu lwtf]kqsf]
b/vf:t v'Nnf /xg]5 .

-t_ lwtf]kq btf{ lgisfzg lgodfjnL, @)&# sf] lgod (-#_ df ePsf] Joj:yfx?sf] ljj/0f M

!= cfˆgf] p2]Zo cg';f/ sf/f]af/ ;+rfng ug{sf nflu cfjZostf sfo{x? cuf8L a9fO{ Ps jif{sf] cjlw k"/f u/]sf] M
sDkgLn] ldlt @)^(÷)%÷#! ut] klAns lnld6]8sf] ?kdf btf{ eO{ cfˆgf] p2]Zo cg';f/sf] sf/f]jf/ ;~rfng ul//x]sf] 5 .

@= k|rlnt sfg"g adf]lhd n]vfkl/If0f tyf ;fwf/0f ;ef ;DkGg u/]sf]M

sDkgLn] ldlt @)&%÷)&^ ;Ddsf] n]vfk/LIf0f ul/;s]sf] 5 . sDkgL P]g @)^# sf] k|fjwfg cg'?k sDkgLn] cfly{s jif{
@)&%÷)&^ sf] ;fwf/0f ;ef ldlt @)&^÷)^÷@$ ut] ;DkGg ul/;s]sf] 5 .

#= cfˆgf] p2]Zo cg';f/ sf/f]af/ ;+rfng ug{sfnflu k|rlnt sfg"g adf]lhd s'g} lgsfoaf6 Ohfht, cg'dlt jf :jLs[t
lng'kg]{ ePdf To:tf] Ohfht cg'dlt jf :jLs[tL lnO;s]sf]M lgodg lgsfoaf6 cg''dlt k|fKt eO;s]sf] 5 .

40
$=;+ul7t ;+:yfsf] nflu cfjZos kg]{ hUuf v/Lb jf cGo k|sf/n] Joj:yf u/L sf/vfgf ejg, sfof{no ejg, uf]bfd3/ tyf
cGo cfjZos ;'ljwfx?sf] lgdf{0f sfo{ z'? ul/;s]sf] M ;f] ;DkGg ePsf] .

%=pTkfbgsf] k|ljlw 5gf}6 u/L pBf]usf] nflu cfjZos kg]{ oflGqs pks/0f tyf To;sf kf6{k'hf{ cflb v/Lb ug'{kg]{ ePdf
6]G8/ cfbL u/L v/Lb k|lqmof cuf8L a9fO;s]sf] M nfu' gx'g] .

^=lwtf]kqsf] ;fj{hlgs lgisfzg ;DaGwdf lgisfzg tyf ljqmL k|aGws;Fu ;Demf}tf eO{;s]sf] M
sDkgLsf] k|aGwkqdf pNn]v eP adf]lhd ;fwf/0f z]o/ ;j{;fwf/0fdf lgisfzg ug{sf nflu lgisfzg tyf ljqmL k|aGws
;flgdf Soflk6n lnld6]8, k'tnL;8s, sf7df08f+};Fu ;Demf}tf eO{;s]sf] .

&=cfof]hgf lgdf{0f cjwLe/ sDkgLsf] C0f / k'FhLsf] cg'kft lwtf]kq lgisfzg lgb]{lzsfdf tf]lsP adf]lhd /fVg ;xdt ePsf]
M cfof]hgf lgdf{0f gx'g] sf/0fn] ;f] nfu' gx'g] .

*=;+:yfksx?n] lng sa'n u/]sf] lwtf]kqsf] ztk|ltzt /sd r'Qmf e};s]sf] M

;+:yfksx?n] cfkm'n] lng sa'n u/]sf] &(,@*,&&% z]o/ lsQfsf] k|lt z]o/ ?=!))÷–sf b/n] ?= &(,@*,&&,%))÷– ztk|ltzt
/sd r'Qmf e};s]sf] 5 .

(=kl/of]hgf lgdf{0fsf nflu kmfOgflG;Pn Snf]h/ -Financial Closure_ e};s]sf] M nfu' gx'g] .

!)=hnljB't pTkfbg ;+:yf ePdf, ljB't v/Lb ;Demf}tf ul/;s]sf] M nfu' gx'g] .

!!=;j{;fwf/0f lgisfzg ug{ nfu]sf] z]o/x? lwtf]kq lgisfzg tyf afF8kmfF8 lgb]{lzsf @)&$, df tf]lsP adf]lhd k|Tofe't
u/fPsf] M
;j{;fwf/0fdf lgisfzg ug{ nfu]sf] z]o/ lwtf]kq lgisfzg tyf afF8kmfF8 lgb]{lzsf @)&$, df tf]lsP adf]lhd sDkgLåf/f
ztk|ltzt z]o/sf] k|Tofe'lt u/fO{Psf] 5 .

41
@# ;~rfns tyf lj1x?sf] gfd tyf b:tvtM
o; ljj/0fkqdf k|sflzt tYo tyf ljj/0fx? 7Ls b'?:t 5g\, ;f] df s'g} km/s k/]df xfdL ;~rfnsx? k"0f{?kdf lhDd]jf/
x'g]5f}+ egL ;xL 5fk ug]{ sDkgLsf] ;~rfnsx?sf] gfd tyf b:tvt M
qm=;+= ;~rfnsx?sf] gfd kb b:tvt

!= >L hLjgfy nfld5fg] sfo{sf/L cWoIf

@= >L Z]fif 3n] ;~rfns

#= >L s[i0f k|;fb kf08] ;~rfns

$= >L afn s[i0f u'?Ë ;~rfns

%= >L dx]z s'df/ >]i7 ;~rfns

^= >L /fd]Zj/ zfx ;~rfns

@$= lgisfzg tyf laqmL k|jGwsn] k|:t't u/]sf] k|lta4tf kq -8\o' 8]lnh]G;\\ ;l6{lkms]6_ sf] k|lt M ;f] ;+nUg ul/Psf] .

@%= ljj/0fkq, ljQLo ljj/0f tyf cGo s'g} s'/fdf lj1n] /fo lbPsf] eP ;f] ;DaGwL kq M ;f] ;+nUg ul/Psf] .

42