N`tbvbcnc Im.

3 JPSZCBM CJ @NPMP JLU[JPNP @MFMLKBNINP UN[SJ ;

Lmitjijorm Onffnrcm Hjbly Nfjxnicrn BC8 45332>

Ujþn N`jrm [uta Qbljin BC8 4;:??4

ZIBLBIZSM  ‐ PJCJ PZ[

 NCLBIBPS[N@BÐI JI PNFZC M@ZUN@BMINF

M@ZUN@BMINF

OJ[JI@BN JPS[NSJOB@N I[@->044

Kmomtî C.@., Imvbjlkrj cj ;5>2

 BIS[MCZ@@BÛI

Fn pfnijn`bði js uin ajrrnlbjitn quj pjrlbtj, nitb`bpnr sbtun`bmijs quj

pujcji ffjonr n ndj`tnr n fn jlprjsn, yn sjn cj uin dmrln pmsbtbvn m ijontbvn7 quj

kus`n fn dmrln cj nitb`bpnrsj n fms `nlkbms m fms su`jsms duturms, jidrjitnrfms y

`ntnfbznrfms pnrn kbji.

@unicm sj `rjn uin jlprjsn cmicj jstîi tmcms fms pfnijs j bcjns, sj

cjkj tjijr `fnrm quj tbjlpm sj cjsjn quj fnkmrj fn jlprjsn. Jstm j s pmrquj sb sj

cjsjn tjijr pmr ui fnrom pjrbmcm cj tbjlpm, sj cjkji ninfbznr tmcns fns

sbtun`bmijs pmr fns quj pujcj ffjonr n ntrnvjsnr fn jlprjsn y js ljhmr jitmi`js

tjijr pfnijncm jf duturm cj fn jlprjsn, sjoøi fms mkhjtbvms.

Fn pfnijn`bði jstrntâob`n sj ji`nron cj `ukrbr tmcms fns n`tbvbcncjs cj fn

jlprjsn, cnicm `mlm rjsuftncm jf

j f `ulpfblbjitm cj fms mkhjtbvms quj kjijdb`bnrni

n fn mronibzn`bði `mlm ui tmcm y im smfm `ulpfbjicm fms cj ui cjpnrtnljitm ji

pnrtb`ufnr.
 NFUBIN U[MCZ@SMP NFBLJISB@BMP P.N.

LBPBÐI, TBPBÐI, UMFÌSB@NP R U[BI@BUBMP CJ FN JLU[JPN

LBPBÐI

Pjr fìcjrjs ji fn sntbsdn``bði cj fns ij`jsbcncjs cjf `misulbcmr `mi nfbljitms cj nftn
n ftn

`nfbcnc y kjkbcns snfucnkfjs, `mi ntrbkutms cj `midbnizn, `jr`niìn y vnfmr norjoncm, `mi

rjspmisnkbfbcnc drjitj n fms n``bmibstns, `mfnkmrncmrjs, `fbjitj, ljcbm nlkbjitj y

sm`bjcnc.

TBPBÐI

@mlpnþìn rj`mim`bcn pmr su fbcjrnzom, `mlpjtbtbvbcnc j biimvn`bði, `uyms prmcu`tms

y sjrvb`bms smi fn mp`bði prjdjrbcn pmr jf `misulbcmr `mfmlkbnim `mi pnrtb`bpn`bði

cjstn`ncn ji fn `mluibcnc nicbin y prjsji`bn ji mtrms ljr`ncms.

U[BI@BUBMP CJ NFUBIN

 Nfpbin tbjij `mlm pnrtj duicnljitnf cj sus prbi`bpbms fn ojstbði y jf cjsnrrmffm

bitjornf, pjrsminf y prmdjsbminf cj qubjijs dmrlni pnrtj cjf jqubpm cj trnknhm.

 N`tunfljitj, `ujitn `mi lîs cj :.555 `mfnkmrncmrjs cbrj`tms ji Nfpbin @mfmlkbn y lîs

cj :.555 ji fn mpjrn`bði bitjrin`bminf, cmicj tmcms smi jhjlpfm cj uin lbsln `ufturn

mronibzn`bminf y uin dbfmsmdìn cj Ojstbði cjf Snfjitm Aulnim quj bib`bð jf lbslm cìn quj

in`bð fn `mlpnþìn.
 Jf `mlprmlbsm cj Nfpbin `mi fn sm`bjcnc js sjoubr `mistruyjicm pnìs cjscj jf

jhjlpfm cj `mlpnþìn, cmicj fms âxbtms y vnfmrjs cj fn jlprjsn, sjni uin ouìn j

bispbrn`bði pnrn quj tmcms sus `mfnkmrncmrjs y fns pjrsmins quj fms `mimz`ni

trnisdmrlji pnrncbolns y sj `mivjizni cj quj `mi pnsbði, nutmjxboji`bn, jsdujrzm,

cjtjrlbin`bði, sji`bffjz y pjisnlbjitm prmduicm tmcm js pm sbkfj!!

UMFÌSB@NP CJ NFUBIN

Pntbsdn``bði cjf `fbjitj8 Srnknhnr ji prm cj fn sntbsdn``bði cj iujstrms `fbjitjs,

krbicîicmfjs prmcu`tms y sjrvb`bms

sjr vb`bms cj nftm ibvjf cj `nfbcnc y prmdjsbminfbslm, pnrn Nfpbin

ui `fbjitj sntbsdj`am js ui ijom`bm kbji aj`am.

Ljhmrn `mitbiun8 fn ljhmrn `mitbiun cjf Pbstjln cj Ojstbði cj @nfbcnc js ui lmtmr ji

iujstrm n``bminr quj ims blpufsn n uin pjrlnijitj supjrn`bði, n`tunfbzîicmims cjscj

jf puitm cj vbstn tâ`ib`m y cj bidrnjstru`turn.

@midbnizn ji iujstrn mronibzn`bði8 fms `fbjitjs tbjiji `midbnizn ji jf jqubpm aulnim

y ji fn ojstbði trnispnrjitj cj iujstrn jlprjsn, knsncn ji jf nftm ibvjf cj `npn`btn`bði

y jxpjrbji`bn y ji jf `ulpfblbjitm fjonf, imrlntbvm y cj rjqubsbtms quj ims npfb`ni.

  Nfbnizns jstrntâob`ns8 smlms pnrtj cj uin `ncjin, quj cjkj dmrtnfj`jrsj ji dmrln

pjrlnijitj. Srnknhnlms pnrn bivmfu`rnr n iujstrms prmvjjcmrjs `mi fms prbi`bpbms cj

iujstrn Umfìtb`n cj @nfbcnc.

JI JF ÎLKBSM JQSJ[IM, FNP MUM[SZIBCNCJP R NLJINXNP NLKBJISNFJP

CJDBIBCNP UM[ FN JLU[JPN

 Nfpbin js uin jlprjsn `mi orni trnyj`tmrbn ji jf ljr`ncm `mfmlkbnim, in`bð an`j

lîs cj ?5 nþms ji Pmpð, @uicbinlnr`n `mi fn `mljr`bnfbzn`bði cj qujsms subzms y

lnitjqubffn7 pmstjrbmrljitj `rjð su pfnitn bicustrbnf pnrn fn prmcu``bði cj prmcu`tms

cjrbvncms cj fî`tjms.

 @misjrvn`bði cj Urmcu`tms8 Bitjitnr pmr tmcms fms ljcbms quj fms prmcu`tms

ffjouji ji ðptblns `micb`bmijs y `mi uin dj`an prucjitj cj `ncu`bcnc nf `fbjitj

dbinf

 Uukfb`bcnc jionþmsn8 Fms `misulbcmrjs cj amy ji cìn sujfji bitjrprjtnr fms

ljisnhjs pukfb`btnrbms cj cbvjrsns dmrlns y sjr `ubcncmsms ji fm quj sj mdjrtn y

ji fm quj sj mdrj`j.
 [jn``bmijs nfârob`ns8 Fms biorjcbjitjs cj nfouim cj fms prmcu`tms pujcji

ojijrnr nfjrobns m bitmfjrni`bns ji nfouims `misulbcmrjs.

 @mlpmrtnlbjitm cj cbstrbkubcmrjs `mi jf prmcu`tm8  Mdrj`jr prmcu`tms sbi

vjrbdb`nr dj`ans cj vji`blbjitm m `micb`bmijs cjf jlpnquj7 fm quj pujcj `nusnr

lmfjstbns nf `misulbcms quj nf rj`bkbrfm im sj ji`ujitrj ji `micb`bmijs ðptblns

cj snfukrbcnc.

 Ujrdbf cjf `misulbcmr8 @mi fms nþms, fms oustms y tjicji`bns cj `misulm ani bcm

`nlkbnicm, amy ji cìn fn lnymrìn cj fn pmkfn`bði js bitmfjrnitj n fn fn`tmsn m jvbtn

`misulbr prmcu`tms fî`tjms pmr su jstbfm cj vbcn Dbtijss.

 Jlprjsns `mlpjtbcmrns8 N`tunfljitj jxbstji ji @mfmlkbn cbdjrjitjs jlprjsns

prmcu`tmrns cj nfbljitms fî`tjms, Nfqujrìn, @mfnitn, Unrlnfnt, Nfonrrn,

@mmfj`ajrn, jitrj mtrns, quj huitm `mi Nfpbin `mlpbtji pmr oninrsj jf ljhmr

pmsb`bminlbjitm ji jf ljr`ncm `mfmlkbnim.

 Urj`bms8 Mdrj`jr im smfm jf ljhmr prmcu`tm, vnrbjcnc,
vnrbjcnc , `nitbcnc7 sbim jf ljhmr prj`bm,

js uim cj fms dn`tmrjs cj lnymr `mlpjtji`bn ji jf sj`tmr fî`tjm.

 Srnyj`tmrbn8 Lîs cj ?5 nþms ji jf ljr`ncm, pmsb`bmini n Nfpbin `mlm uin lnr`n

quj an fmorncm ljtjrsj ji jf `mrnzði cj fms `misulbcmrjs `mfmlkbnims.

 @nfbcnc8 Fms `misulbcmrjs `midìni ji fn `nfbcnc cj `ncn uim cj fms prmcu`tms cj

 Nfpbin, orn`bns n fn `nfbcnc bcðijn cj sus jlpnqujs, fn `misjrvn`bði cj sus

prmcu`tms j bistnfn`bmijs cj dnkrb`n`bði.

 Tnrbjcnc8 Fn orni vnrbjcnc cj prmcu`tms quj mdrj`j Nfpbin, an`ji quj jf

`misulbcmr tjion uin orni mdjrtn cj prmcu`tms n jfjobr cj fn `mlpnþìn7 `mlm

fî`tjms, kjkbcns drutnfjs, qujsms, cuf`js, prmcu`tms dbtijss, y pnrn tmcns fns

jcncjs, fms `unfjs sj pujcji ncqubrbr ji ornicjs, ljcbnims y pjqujþms

cbstrbkubcmrjs y ji puitms cj vjitn prmpbms cj fn lnr`n7 ji cbdjrjitjs pnrtjs cj fn

`bucnc y cjf pnìs .

 Ncnptn`bði8 Bi`fubr prmcu`tms quj supfni fns ij`jsbcncjs nfbljitb`bns pnrn fms

cbdjrjitjs tbpms cj `misulbcmrjs7 prmcu`tms fboat, knhms ji ornsn, sbi nzø`nr, `mi

prmkbðtb`ms, knhms ji `nfmrìns, prmcu`tms mroîib`ms7 sj jstîi `mivbrtbjicm ji

tjicji`bn cjitrm cjf pøkfb`m7 y ncjlîs nlbonkfjs `mi jf ljcbm nlkbjitj orn`bns

n sus jlpnqujs kbmcjorncnkfjs.

 @ukrblbjitm Sjrrbtmrbm In`bminf8 Ffjonr n fms fuonrjs lîs rj`ðicbtms cj

@mfmlkbn pnrn nf`niznr nf lîxblm su pmsb`bminlbjitm ji fns cbdjrjitjs

pmkfn`bmijs y `mluibcncjs.

 Ljiø m tnkfn cj nfbljitn`bði8 Puojrbr n fms `misulbcmrjs ui ljiø n`mrcj n su

jcnc y ij`jsbcncjs7 pujcj sjr uin nftjrintbvn quj n`jrquj n fn lnr`n `mi su ib`am

y ojijrj ui nlkbjitj cj `midbnizn ji fn lnr`n.

 JI JF ÎLKBSM BISJ[IM, FNP DM[SNFJXNP R CJKBFBCNCJP CJ FN JLU[JPN
DM[SNFJXNP
- Ojijrn`bði cj vnfmr y `rj`blbjitm
- @ncjin cj nknstj`blbjitm
- @mlpjtbtbvbcnc cjf Pj`tmr normpj`unrbm
- Mpjrn`bði jdb`bjitj y dfjxbkfj
- @nfbcnc j bim`ubcnc
- Umsb`bminlbjitm cjf sj`tmr y aîkbtms cj
`misulm
- Mdjrtn cj prmcu`tms
- [jfn`bði `mi `fbjitjs y `misulbcmrjs
- Cjsnrrmffm cj jlpnqujs
- Ojstbði sm`bnf
- Âtb`n y trnispnrji`bn
MUM[SZIBCNCJP
-  Onrnitbznr jf cjsnrrmffm smstjibkfj cj `mi
biimvn`bði y `nfbcnc
-  Ojijrnr rjtmrims jspjrncms j blpn`tnicm
pmsbtbvnljitj n orupms cj bitjrâs.
- Ojijrnr ui blpn`tm pmsbtbvm ji fn sm`bjcnc,
an`bjicm usm jdb`bjitj cj fms rj`ursms
inturnfjs y lbtbonr jf blpn`tm ji jf ljcbm
nlkbjitj
- @uftbvnr ui nlkbjitj ncj`uncm pnrn
`rj`blbjitm y cjsnrrmffm cj fms trnknhncmrjs
CJKBFBCNCJP
- Cjsnrrmffm cj jstrntjobns cj ljr`ncjm
l jr`ncjm
bincj`uncns
- Pni`bmijs `mi jf bi`ulpfblbjitm nlkbjitnf
- Uukfb`bcnc jionþmsn
- Nfzn cj prj`bms
- Dnftn cj prî`tb`ns y prm`jsms quj pjrlbtni
`misjrvnr fns prmpbjcncjs inturnfjs cj fms
prmcu`tms y mdrj`jr ui pmrtndmfbm `mi fn
ljhmr `nfbcnc pnrn fms `misulbcmrjs
-  Dnftn cj `mlprmlbsm `mi fn køsqujcn cj
tj`imfmoìns quj pjrlbtni `jrrnr `b`fms y nsì
cbslbiubr fn `nitbcnc cj rjsbcums jivbncms
n rjffjims snibtnrbms
NLJINXNP
-  Sjicji`bn n fn knhn ji fms prj`bms cj fn
fj`aj ndj`tnicm su prmcu``bði y `nfbcnc
- @rj`blbjitm
@rj`blbjit m cj fn prmcu``bði rjobminf n
prj`bms nftms ji rjfn`bði `mi jf ljr`ncm
-  Umsb`bminlbjitm cj luftbin`bminfjs ji jf
pnìs
- Nftm ibvjf cj `mlpjtji`bn in`bminf j
bitjrin`bminf
- Cjsnknstj`blbjitm y usm bicjkbcm cjf noun
- Nljinzns cj mrboji tâ`ib`m, inturnf, sm`bnf
- Krmtj cj dbjkrj ndtmsn7 cmicj fms
prmvjjcmrjs sj vjni ndj`tncms pmr cb`an
jidjrljcnc
- Urjcbms pnstjrms `mitnlbincms `mi
kru`jfmsbs7 prbi`bpnf pntðojim prmcu`tmr cj
tukjr`ufmsbs jqubim
- Cjsnknstj`blbjitm
Cjsnknstj`bl bjitm cj drutn, fm quj
ndj`tnrìn nf kuji cjsnrrmffm cj fns rjobmijs
cj Nitbmqubn, @nu`n, @uicbinlnr`n,
@nfcns y [bsnrnfcn ji cmicj nfouins
dnlbfbns cj norb`uftmrjs
norb`uftm rjs `ujitni `mi iujstrn
`mlprn `mlm su øib`n dmrln cj biorjsm.
 UFNIJNLBJISM JPS[NSÂOB@M R @MIS[MF

Unrn fn jfnkmrn`bði cj jstj Ufnijnlbjitm Jstrntâob`m, ajlms tjibcm ji `ujitn fms

sboubjitjs nspj`tms, quj sj `misbcjrni rjfjvnitjs pnrn jf `ulpfblbjitm cj fms mkhjtbvms

cj fn `mlpnþìn8

NPUJ@SMP UÐFBSB@MP

 Nfpbin jstî `mlprmljtbcn `mi nfbljitnr snfucnkfjljitj. @rjj `mi dbrljzn quj fn vbcn

ojijrn vbcn. Js uin mronibzn`bði bitjfbojitj quj fmorn prmspjrbcnc `mfj`tbvn cj lnijrn

pjrsbstjitj. Fn pmfìtb`n jstnkfj`bcn pnrn jf ;5;5 js sjr fn @mlpnþìn prjdjrbcn pmr fms

`misulbcmrjs, krbicnicm nfbljitn`bði, orntbdb`n`bði y cbvjrsbði pnrn cbdjrjitjs

lmljitms cj sus vbcns, nsjournicm rjtmrims supjrbmrjs j blpn`tnicm pmsbtbvnljitj n

tmcns iujstrns `mluibcncjs.

Unrn Nfpbin fn smstjibkbfbcnc js jf amrbzmitj quj jilnr`n jf jhjr`b`bm cjf ijom`bm, y

quj an`j quj `misbcjrj cj lnijrn amfìstb`n fms jdj`tms cj sus n`tun`bmijs ji jf tjrrjim

sm`bnf, ljcbmnlkbjitnf y j`miðlb`m. Fn smstjibkbfbcnc prmpb`bn fn køsqujcn cj fn

biimvn`bði y cjf ljhmrnlbjitm `mitbium, npnfni`nicm fn kujin lnr`an y fn

`mlpjtbtbvbcnc cj fn @mlpnþìn ji jf tbjlpm.

 Nfpbin jitbjicj fn smstjibkbfbcnc `mlm uin dmrln cj an`jr ijom`bms, pmr jffm jstî

biljrsn cj lnijrn tniobkfj ji jf qujan`jr cbnrbm cj fms @mfnkmrncmrjs, ji fns cj`bsbmijs

quj sj tmlni tnitm bicbvbcunf `mlm `mfj`tbvnljitj7 ji sus prm`jsms lîs `rìtb`ms `mlm

smi fn biimvn`bði, fn nsboin`bði cj `npbtnf, fn pfnijn`bði jstrntâob`n7 ji iujstrms

prbi`bpbms ouìn quj rboji fn dmrln `mlm pjisnlms y ims `mlpmrtnlms y ji fns lâtrb`ns
y jvnfun`bmijs cj cjsjlpjþm. Fn smstjibkbfbcnc js ui jhjr`b`bm cj `majrji`bn

jlprjsnrbnf y su`jcj n fm fnrom cj fn Mronibzn`bði, im sj ffjon n sjr ui ijom`bm

smstjibkfj sbi quj cbnrbnljitj sj tmlji cj`bsbmijs smstjibkfjs pnrn jf `mrtm, ljcbnim y

fnrom pfnzm y sbi quj fns n`mlpnþji fms `mlpmrtnlbjitms `mrrj`tms cj fms `mfnkmrncmrjs,

an`bn jf bitjrbmr y ji su rjfn`bminlbjitm `mi iujstrms orupms cj bitjrâs.

NPUJ@SMP J@MIMLB@MP

Dm`nfbznr ui jqubpm cj trnknhm `mi cbdjrjitjs tnfjitms pnrn prmpmijr y tjijr iujvns

pjrspj`tbvns cjf ljr`ncm. Cj jstn lnijrn nlpfbnr jf pmrtndmfbm cj fn jlprjsn, quj amy

`ujitn `mi sjbs `ntjomrìns y lîs cj 455 rjdjrji`bns, tmcns `mlm rjsuftncm cj fn

bivjstbon`bði y fn biimvn`bði. Snlkbâi rjpfnitjnr fn fmoìstb`n cjf trnispmrtj cj fms

nfbljitms pnrn quj iui`n dnftj ji fms amonrjs y dmrtnfj`jr fn rjfn`bði `mi fms onincjrms,

qubjijs smi jf nfbncm duicnljitnf ji su `ncjin cj vnfmr. Jstms `nlkbms, sj vjrîi

rjdfjhncms ji fns vjitns ijtns, drjitj n fms rjsuftncms cjf nþm nitjrbmr.

Fn `mrrj`tn jhj`u`bði cj sus jstrntjobns7 uin ajrrnlbjitn quj trn`j fn rutn cjf âxbtm

ji fn `mlpnþìn. Fns rjuibmijs cj trnknhm pjrlbtji quj fms fìcjrjs nitb`bpji rbjsoms y

cjsnrrmffji ankbfbcncjs pnrn jidrjitnrfms ji jqubpm7 ji fns rjuibmijs sj fmorn

`mivjrsn`bmijs quj sj `mivbjrtji ji n``bmijs `mi`rjtns y ncjlîs sj trncu`ji ji

`rj`blbjitm.

NPUJ@SMP PM@BNFJP

OJPSBÐI PM@BNF8 @rjn`bði y jhj`u`bði cj bib`bntbvns pnrn prmlmvjr jf `rj`blbjitm

y cjsnrrmffm cj fn `mluibcnc.
 BI@BCJI@BN8  Dmrtnfj`blbjitm cj Nfpbin `mlm rjdjrjitj ji kujins prî`tb`ns,

ojijrncmr cj nfbnizns j bi`bcji`bn ji fms prm`jsms cj pmfìtb`n pøkfb`n ji fms fuonrjs

cmicj sj tbjij prjsji`bn.

@mlm `mlpnþìn Nfpbin jstî `mlprmljtbcn `mi fn mronibzn`bði y n`mlpnþnlbjitm cj

n`tbvbcncjs cj blpn`tm sm`bnf quj kusquji cjsnrrmffnr `mluibcncjs vufijrnkfjs.

Cj fn lnim cj fn mronibzn`bði Umr jf Cjsnrrmffm cjf Imrtj cj fn Pnknin (U[MCJIPN),

trnknhnr pmr fn jcu`n`bði cjf luib`bpbm cj Pmpð, pnrtb`bpnicm ji `anrfns jcu`ntbvns ji

`mfjobms cjf sj`tmr. Ljcbnitj jstn bib`bntbvn sj kus`n mdrj`jr n fms jstucbnitjs

ankbfbcncjs øtbfjs ji su vbcn prmdjsbminf, `mlm `mim`blbjitms ji biimvn`bði, ljcbm

nlkbjitj y smstjibkbfbcnc. Srnknhnr pnrn `mitrbkubr nf cjsnrrmffm cj fms hðvjijs cj fn

`mluibcnc.

NPUJ@SMP SJ@IMFÐOB@MP

 N trnvâs cj fms nvni`js ji fn `bji`bn y fn tj`imfmoìn, trnknhnr cj lnijrn

lni jrn pjrlnijitj

pnrn mdrj`jr n fms `misulbcmrjs ui pmrtndmfbm `mlpfjtm quj krbicj iutrb`bði y kbjijstnr,

`mi jf ljhmr pjrdbf cj iutrbjitjs y `mi biorjcbjitjs cj jx`jfjitj `nfbcnc quj supfni sus

ij`jsbcncjs iutrb`bminfjs

Cjsnrrmffnr j blpfjljitnr iujvns tj`imfmoìns y ljtmcmfmoìns cj fmoìstb`n jidm`ncns

nf trnispmrtj, fns `unfjs fms an ffjvncm n fm quj sj ffnln fn Jtnpn 045µ, quj pjrlbtj sjr

lîs jdb`bjitjs, `mi jf dbi cj bi`rjljitnr fn prmcu`tbvbcnc cj fns mpjrn`bmijs.

Cjsnrrmffnr Nfpbin Cbobtnf, ui auk quj bitjorn tj`imfmoìn cj vniounrcbn, `mitjibcms y

jxpjrbji`bns n`mrcj n fms bitjrjsjs y lmljitms cj vbcn cj sus `misulbcmrjs. Nfpbin

Cbobtnf pjrlbtj mìr y `mim`jr n prmduicbcnc sus `misulbcmrjs, fmornicm nsì ui puitm cj
`mitn`tm quj pjrlbtj fn `mistru``bði cj uin knsj cj cntms y cj jstn lnijrn pmtji`bnr

jf rjfn`bminlbjitm cbrj`tm `mi jffms, pnrn nsì nuljitnr jf vnfmr cj fn lnr`n y fns rnzmijs

cj prjdjrji`bn.

NPUJ@SMP FJONFJP

Cbslbiubr luftns sboibdb`ntbvns ib sni`bmijs ji rjfn`bði `mi jf bi`ulpfblbjitm cj fn

imrlntbvn nlkbjitnf7 y im sjr mkhjtm cj n``bmijs rjfn`bmincns `mi `mlpjtji`bn cjsfjnf

y/m prî`tb`ns rjstrb`tbvns cj fn `mlpjtji`bn.

Im sjr mkhjtm cj sni`bmijs cjrbvncns cj uin cj`fnrntmrbn cj bi`ulpfblbjitm pmr

`mluib`n`bmijs cj lnrgjtbio m rj`fnln`bmijs ji rjfn`bði `mi fn prbvn`bcnc y fn duon cj

cntms pjrsminfjs.

NPUJ@SMP NLKBJISNFJP

NOZN8 Ojstbði cjf rj`ursm aìcrb`m pnrn onrnitbznr jf nknstj`blbjitm y usm ncj`uncm

pmr pnrtj cj fn jlprjsn y tmcn su `ncjin cj vnfmr.

JIJ[OBN R @NLKBM @FBLÎSB@M8  Ojstbði cj fms rj`ursms jijroâtb`ms pnrn fn

rjcu``bði y lbtbon`bði cj fms blpn`tms m`nsbmincms pmr fns jlbsbmijs cj onsjs cj jdj`tm

bivjrincjrm ji fms prm`jsms prmcu`tbvms cj iujstrn `ncjin cj vnfmr y cjdbib`bði cj

jstrntjobns quj pjrlbtni fn `mlpjisn`bði cj fms lbslms.

 [JPBCZMP8 Cjdbib`bði cj jstrntjobns pnrn jf usm jdb`bjitj cj lntjrbnfjs quj pjrlbtni

cbslbiubr fn ojijrn`bði cj rjsbcums, jf blpn`tm y uin cbspmsb`bði ncj`uncn cj fms

lbslms ji tmcn iujstrn `ncjin cj vnfmr.

FN M[ONIBXN@BÐI D[JISJ N FMP @MLUJSBCM[JP

 Nfpbin js uin jlprjsn fìcjr ji jf ljr`ncm `mfmlkbnim, `uyns jstrntjobns jstîi

mrbjitncns ji mdrj`jr prmcu`tms cj fn lîs nftn `nfbcnc n uims prj`bms lîs knhms quj fn

`mlpjtji`bn, cmicj jffms `ujitni `mi uin `npn`bcnc cj prmcu``bði mptbln, an`ji

jstucbms cj bivjstbon`bði `mistnitj y cjsnrrmffm pnrn quj sus prmcu`tms sjni iutrbtbvms

yn quj sus pøkfb`ms mkhjtbvms nknr`ni n tmcns fns jcncjs, sj ninfbzni fms prmcu`tms cj

fn `mlpjtji`bn, mrbjitni sus prmcu`tms an`bn ui orupm jspj`ìdb`m, sj sjoljitn jf

ljr`ncm y sj kus`n an`bn quâ rjobði mrbjitnrfm, `mlm vn n an`jr jf prmcu`tm y `uîfjs

sjrîi sus jstrntjobns cj vjitns.

Fn jstrntjobn cbdjrji`bncmrn cj nfpbin sj knsn ji jf cjsnrrmffm y prmlm`bði cj

prmcu`tms cj nftn `nfbcnc, quj sj `nrn`tjrbzni pmr sjr snfucnkfjs, iutrbtbvms y ntrn`tbvms.

Jstm sj fmorn `mi lu`an bivjstbon`bði j biimvn`bði n`mlpnþncm cj uin jstru`turn

mronibzn`bminf mrbjitncn nf ljr`ncm. Pj cjlujstrn `mi `bdrns cjf ;5>1, cmicj fn

jlprjsn fnizm 31 prmcu`tms iujvms quj fj rjprjsjitnrmi lîs cjf 0;% cj fn vjitns jsj

nþm. Fns bitjorn`bmijs an`bn ntrîs smkrj fn `ncjin prmcu`tbvn fj pjrlbtji nlpfbnr fms

lîrojijs nøi lîs, ojijrnicm uin vjitnhn `mlpjtbtbvn lîs dujrtj. Nfpbin js fn lnr`n

lîs rj`mim`bcn cjf `misulbcmr `mfmlkbnim ji nfbljitms, `nrn`tjrbzncm pmr su ` nfbcnc j

biimvn`bði. Fm `unf js nprmvj`ancm pmr fn `mlpnþìn `mi jf fniznlbjitm cj iujvms

prmcu`tms. Fns kjkbcns fî`tjns js fn `ntjomrìn lîs rjprjsjitntbvn, `ukrbjicm nfrjcjcmr

cjf 3:% cj fns vjitns tmtnfjs.

JPS[NSJOBN CJ IJOM@BM UN[N FN JLU[JPN

JPS[NSJOBN CJ U[MCZ@@BMI8 Ji `unitm n fn jstrntjobn cj cbstrbku`bði, pmr

trntnrsj cj ui prmcu`tm pjrj`jcjrm y quj rjqubjrj uin `ncjin cj drìm `mitbiun, sj

kus`nrî quj ji su `b`fm prmcu`tbvm iui`n sj pbjrcn anstn quj jf prmcu`tm sjn

jitrjoncm cbrj`tnljitj ji fms puitms cj vjitn. Jf `nlbði pnrn fn cbstrbku`bði im

ij`jsnrbnljitj tbjij quj sjr prmpbm pmcrìn sjr `mitrntncm n tjr`jrms. Fns

ijom`bn`bmijs `mi fms supjrljr`ncms im sj anrîi `mi bitjrljcbnrbms, yn quj sj

kus`nrî quj âstns sjni cbrj`tnljitj jitrj fn prm`jsncmrn NFUBIN y fms

supjrljr`ncms.

@mlm mtrns jstrntjobns cj cbstrbku`bði sj kus`nrî pnsnr jf vmz n vmz n trnvâs cj fms

`jitrms cj n`micb`bminlbjitm dìsb`m quj anyn ji @mfmlkbn y tmcms sus cjpnrtnljitms ,

sj utbfbznrîi fms `jitrms cj n`micb`bminlbjitm dìsb`m pmrquj jf ymourt js uin kjkbcn

snfucnkfj quj pujcj br cj fn lnim `mi fns pjrsmins quj an`ji jhjr`b`bm, jitrjini nffì y

kus`ni jstbfms cj vbcn snfucnkfj, ncjlîs cj quj sjrìn uin lnijrn jx`jfjitj cj

prmlm`bminr jf prmcu`tm y cnrfm n `mim`jr y quj fujom ji fms supjrljr`ncms jstj

pujcn sjr rj`mim`bcm `mi dn`bfbcnc.

OJIJ[N@BÐI CJ TNFM[ R @[J@BLBJISM Cjdbib`bði cj pfnijs y jstrntjobns pnrn

cnr `ulpfblbjitm n fms mkhjtbvms jstrntâob`ms cj fn jlprjsn, ojijrnicm vnfmr n fms orupms

cj bitjrâs n trnvâs cj fn `mismfbcn`bði y dmrtnfj`blbjitm cj fn mpjrn`bði

 @NCJIN CJ NKNPSJ@BLBJISM Cjdbib`bði cj jstrntjobns, pmfìtb`ns y fbijnlbjitms

pnrn fn sjfj``bði, jvnfun`bði y dmrtnfj`blbjitm cj prmvjjcmrjs, quj prmlujvni uin

`ncjin cj nknstj`blbjitm smstjibkfj

@MLUJSBSBTBCNC CJF PJ@SM[ NO[MUJ@ZN[BM

NO[MUJ@ZN[BM Jstrntjobns pnrn fn cjdbib - `bði

cj jstîicnrjs cj prmcu``bði quj prmlujvni fn prmcu`tbvbcnc n trnvâs cj prî`tb`ns

smstjibkfjs cmicj sj dmrtnfjz`n fn rjfn`bði y kjijdb`bms quj mktbjiji fms prmcu`tmrjs y fn

`mlpnþìn.

UJ[N@BÐI JDB@BJISJ R DFJQBKFJ Cjdbib`bði cj prm`jsms quj pjrlbtni onrnitbznr

fn sjourbcnc, jdb`bji`bn y `nfbcnc cj fn mpjrn`bði, pjrm quj n fn vjz sjni dfjxbkfjs pnrn

ncnptnrsj n fms jitmrims y rjspmicni n fn jstrntjobn cj `rj`blbjitm cj fn mronibzn`bði.

@NFBCNC J BIM@ZBCNC Urm`jcblbjitms y ajrrnlbjitns pnrn onrnitbznr fn `nfbcnc j

bim`ubcnc cj fms prmcu`tms ji fns jtnpns cj nknstj`blbjitm, prmcu``bði y cbstrbku`bði.

UMPB@BMINLBJISM CJF PJ@SM[ R AÎKBSMP CJ @MIPZLM 8 Jstrntjobns pnrn jf

dmrtnfj`blbjitm cj fn `mlpnþìn `mlm fìcjr ji fn prmlm`bði cjf `misulm cj prmcu`tms

fî`tjms y cj `misulm cj drutn. Cjdbib`bði cj jstîicnrjs pnrn fn `mluib`n`bði

trnispnrjitj cj fns `nrn`tjrìstb`ns cj fms prmcu`tms y jf blpufsm n jstbfms cj vbcn cmicj

prjvnfjz`n jf kbjijstnr y fn sntbsdn``bði cj fms `misulbcmrjs.

MDJ[SN CJ U[MCZ@SMP8 Jstrntjobns pnrn jf cjsnrrmffm y `mljr`bnfbzn`bði cj

prmcu`tms quj npuitji n sntbsdn`jr ij`jsbcncjs cj fms `misulbcmrjs.

UÂ[CBCNP R CJPUJ[CB@BMP8  Jstrntjobns pnrn fn rjcu``bði cj fns pârcbcns y

cjspjrcb`bms ji fn `ncjin cj vnfmr n trnvâs cj fn mptblbzn`bði cj prm`jsms, jf dmljitm

cjf rjøsm y fn pfnijn`bði cj fn fmoìstb`n cj jitrjon.

 [JFN@BÐI @MI @FBJISJP R @MIPZLBCM[JP

Cjdbib`bði cj jstrntjobns y lj`nibslms cj rjfn`bminlbjitm y `mluib`n`bði pnrn

ojstbminr fns jxpj`tntbvns cj fms nfbncms, `fbjitjs y `misulbcmrjs, y pnrn mktjijr

bisulms quj pjrlbtni cjsnrrmffnr iujvms `ninfjs y prmcu`tms.

JPS[NSJOBN CJ U[J@BMP8 @mlm jstrntjobn cj prj`bms sj kus`nrî quj jf prmcu`tm

snfon nf ljr`ncm `mi ui prj`bm hustm y quj fns pjrsmins cj jstrntms >,; y 0 pujcni

n``jcjr n âf `mi dn`bfbcnc pnrn jstm fn knsj sjrî jf `ms tms cj prmcu``bði, y fm quj sj anrî

`mi jstm tnlkbâi sjrî `nptnr ui iøljrm lnymr cj `misulbcmrjs ncjlîs

ncjlî s cj quj jf prj`bm

sjrî `ðlmcm sj ffjvnrni ui prmcu`tm `mi uins jx`jfjitjs `nrn`tjrìstb`ns iutrb`bminfjs y

ui bibounfnkfj snkmr. Pj cnrîi dmrlns cj pnom n fms `fbjitjs ji pfnzms cj >:, 05, 3: cìns

sjoøi jf vmfulji cjf pjcbcm.

U[JPJISN@BMI U[J@BM TJISN

;:5 lf $>,355,55

:55 lf $ ;.055,55

>555 lf $ 3.:55,55

JPS[NSJOBN CJ U[MLM@BMI R @MLZIB@N@BÐI 8 Ji jstn jstrntjobn cj prmlm`bði

y `mluib`n`bði sj anrîi cjs`ujitms pmr vmføljijs cj `mlprns `misbcjrnkfjs7

tnlkbâi sj lnijhnrîi `fbjitjs jspj`bnfjs n fms quj sj fjs pmcrî cnr, prjvbm n ui

niîfbsbs cj `mstms, uims ljhmrjs prj`bms pmr `mlprns pjrbðcb`ns y vmføljijs

`misbcjrnkfjs cjf prmcu`tm7 tnlkbâi sj kus`nrî prmlm`bminr jf prmcu`tm ji fns zmins

rjsbcji`bnfjs cj @mfmlkbn, ji fms `jitrms cj n`micb`bminlbjitm dìsb`m y sj kus`nrî

lmtbvnr fns vjitns ji jf `mrtm pfnzm pnrn cnr n `mim`jr jf prmcu`tm cj uin lnijrn

rîpbcn y quj n trnvâs cj fns jstrntjobns quj sj blpfjljitnrîi tjion uin kujin

n`mobcn.

Pj pujcji an`jr cjs`ujitms pmr prmitm pnom ji fms pfnzms js`mobcms pmr fms `fbjitjs

pnrn `ni`jfnr jf prmcu`tm.

Mtrn jstrntjobn ji `unitm nf prmcu`tm sjrî mdrj`jr n fms `misulbcmrjs prmlm`bmijs quj

nsulbrî jf prmcu`tmr `mlm fniznlbjitm m lujstrn cj jstj iujvm prmcu`tm.

JPS[NSJOBN CJ PJ[TB@BM 8 Unrn jstn jstrntjobn sj kus`nrî quj jf sjrvb`bm

pmstvjitn sjn jf ljhmr pnrn fms `fbjitjs, quj sbjitni quj fn prm`jsncmrn Nfpbin an`j ui

n`mlpnþnlbjitm y ui sjoublbjitm `mistnitj cj sus ij`jsbcncjs. Jf sjrvb`bm pmstvjitn

js `nsb quj cj fms lîs blpmrtnitjs, pmrquj im sj trntn smfm cj jitrjonr ui prmcu`tm

sbim cj kus`nr fn lnijrn cj quj tnitm prmcu`tmr `mlm `fbjitj ojijrji nfbnizns

jstrntâob`ns quj fms `mismfbcji lîs ncjfnitj n nlkms y quj onrnitb`ji nf `misulbcmr

dbinf ui prmcu`tm ji jx`jfjitjs `micb`bmijs, drjs`m y n tbjlpm ji jf puitm cj vjitn.

Pj cnrîi onrnitìns y sj rj`bkbrîi cjvmfu`bmijs ji `nsm cj quj jf prmcu`tm ffjouj ji

lnf jstncm nf lbib- ljr`ncm, m im sjn fm quj jf `fbjitj pbcn, iøljrm cj uibcncjs,

snkmrjs y prjsjitn`bði cjf prmcu`tm quj jstj cjsjn.

 KBKFBMO[NDBN

@abnvjintm, B.(;5>?) Ufnijn`bði Jstrntâob`n. Duicnljitms y Npfb`n`bði. Ln`Ornw Abff

Bitjrnljrb`nin. 0jrn. Jcb`bði. attps8//jkmmgs?-;3.`ml/lbiutmftb/Ptnoj.nspx

Kîjz, D., Invnrrjtj, J., Srjhm, T. y Pîi`ajz, O. (;5>1). Fn rjfn`bði jitrj biimvn`bði y

fms prm`jsms cj pfnijn`bði8 @nsms cj jstucbm cj jlprjsns tj`imfðob`ns cj fn Xmin

Ljtrmpmfbtnin cj Ouncnfnhnrn. P`bji`js cj Ojstbmi, >;3, ;:-:5.

Ljhìn, @., Noucjfm, B. y Pmtm, M. @. (Jijrm-Lnrzm, ;5>4). Ufnijn`bði pmr js`jinrbms8

ui `nsm cj jstucbm ji uin jlprjsn cj `misuftmrìn fmoìstb`n ji @mfmlkbn. Jstucbms

Ojrji`bnfjs, Smlm 0;(>01), 24->5?.

Lmrn-[bnpbrn, J. A., Tjrn-@mfbin, T. y Ljfonrjhm-Lmfbin, X. N.. (Jijrm-lnrzm, ;5>:).

Ufnibdb`n`bði jstrntâob`n y ibvjfjs cj `mlpjtbtbvbcnc cj fns lbpyljs cjf sj`tmr `mljr`bm

ji Kmomtî. Jstucbms Ojrji`bnfjs, 0>(>03), ?2-1?.