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Public Disclosure Authorized g]kfnsf nflu Ps b/b[li6 gLlt ... · i6 gLlt–;f/ ;+If]kviig]kfnsf...

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g]kfnsf nflu Ps b"/b[li6 gLlt–;f/ ;+If]k cfly{s j[l4sf nflu …y|L cfO{Ú OGe]i6d]06, OGk|mf:6«Sr/ / OGSn'hg Investment Infrastructure Inclusion Public Disclosure Authorized Public Disclosure Authorized Public Disclosure Authorized Public Disclosure Authorized Public Disclosure Authorized Public Disclosure Authorized Public Disclosure Authorized Public Disclosure Authorized
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Page 1: Public Disclosure Authorized g]kfnsf nflu Ps b/b[li6 gLlt ... · i6 gLlt–;f/ ;+If]kviig]kfnsf nflu Ps b"/b[li6. dflysf] t'ngfdf_ . nufgLsf] 9f]sf vf]Ng'sf ;fy} ;j}sf nflu ;]jf kx'“r

g]kfnsf nflu Ps b"/b[li6gLlt–;f/ ;+If]k

cfly{s j[l4sf nflu …y|L cfO{ÚOGe]i6d]06, OGk|mf:6«Sr/ / OGSn'hg

Investment

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wb350881
Typewritten Text
90270 v1
Page 2: Public Disclosure Authorized g]kfnsf nflu Ps b/b[li6 gLlt ... · i6 gLlt–;f/ ;+If]kviig]kfnsf nflu Ps b"/b[li6. dflysf] t'ngfdf_ . nufgLsf] 9f]sf vf]Ng'sf ;fy} ;j}sf nflu ;]jf kx'“r
Page 3: Public Disclosure Authorized g]kfnsf nflu Ps b/b[li6 gLlt ... · i6 gLlt–;f/ ;+If]kviig]kfnsf nflu Ps b"/b[li6. dflysf] t'ngfdf_ . nufgLsf] 9f]sf vf]Ng'sf ;fy} ;j}sf nflu ;]jf kx'“r

Investment

Infrastructure

Inclusion

g]kfnsf nflu Ps b"/b[li6gLlt–;f/ ;+If]k

cfly{s j[l4sf nflu …y|L cfO{ÚOGe]i6d]06, OGk|mf:6«Sr/ / OGSn'hg

Page 4: Public Disclosure Authorized g]kfnsf nflu Ps b/b[li6 gLlt ... · i6 gLlt–;f/ ;+If]kviig]kfnsf nflu Ps b"/b[li6. dflysf] t'ngfdf_ . nufgLsf] 9f]sf vf]Ng'sf ;fy} ;j}sf nflu ;]jf kx'“r

pkfWoIflkmlnk ln xf]?

g]kfnsf lgb]{zshf]xfG; h6

If]qut lgb]{zscg]{i6f] d]

If]qut Joj:yfksljgo :j?k

sfo{6f]nL g]tfc/]lnog qm'hdfs{;{ ls6\Hd'n/hf]xfG; lj8Dofg

© The World Bank Group, Nepal

All rights reserved. No part of this publication may be reproduced, stored in a retrieval system, or transmitted, in any form or by any means, electronic, mechanical, photocopying, recording or otherwise, without the prior permission of the publisher.

Published by: The World Bank GroupNepal OfficeP.O. Box 798Yak and Yeti Hotel ComplexDurbar Marg, Kathmandu, NepalTel.: 4226792Fax: 4225112www.worldbank.org/npwww.facebook.com/WorldBankNepal

Design and Printed by: Print Communication, 4241355

Printed and bound in Nepal

Page 5: Public Disclosure Authorized g]kfnsf nflu Ps b/b[li6 gLlt ... · i6 gLlt–;f/ ;+If]kviig]kfnsf nflu Ps b"/b[li6. dflysf] t'ngfdf_ . nufgLsf] 9f]sf vf]Ng'sf ;fy} ;j}sf nflu ;]jf kx'“r

v g]kfnsf nflu Ps b"/b[li6 gLlt–;f/ ;+If]k

ljifo;"rL

;f/–;+If]k r

kl/ro !g]kfnsf] tfhf ljsf; cg'ej #

cfly{s j[l4 / ;+/rgfut ?kfGt/0f $u/LaL Go"gLs/0f / dfgj ljsf;sf pknlAw Pjd\ afFsL r'gf}tL *

…y|L cfO{Ú -nk";_sf] kl/ro !!nufgL !#k"jf{wf/ !%;dfj]lztf !(

;f/ / lgZsif{ @%d'Vo gLltut k|fyldstfx? @^

lrq ! M jt{dfg cfly{s j[l4sf] cj;/ d"No $lrq @ M g]kfnsf] cfly{s j[l4sf] ;dpRr ljGb' %lrq # M hg;+Vof j[l4 sd x'Fbf klg k|ltJolQm cfo j[l4sf] ;':t ult %lrq $ M cfly{s j[l4sf abln+bf sf/sx? / ;]jf IF]qsf] pbo ^lrq % M cfwf/e"t ;]jfx?sf] afx'Notf ^lrq ^ M ultdfg\ cfly{s j[l4nfO{ ;3fpg] s"n nufgLsf] clt Go"g ult &lrq & M nufgLsf cK7\of/fx? &lrq * M u/LaLsf] /]vfdfly y'lk|Psf] g]kfnL hg;+Vof (lrq ( M cfly{s j[l4sf nflu …y|L cfO{Ú -nk";_ !!lrq !) M lrlgof cg'ej M nufgLk|]l/t cfly{s j[l4 !#lrq !! M g]kfndf Joj;fo ;~rfngsf ;aeGbf 7"nf afws !#lrq !@ M cfDbfgLsf] vf8n / k|;f/0f–ljt/0f 3f6f !^lrq !# M u|fdL0f If]qsf] ljBdfg r'gf}tLsf ?kdf u/LaL lgjf/0f !(lrq !$ M :ofp pTkfbgsf If]q -dfly_ / cf]v/ pTkfbgsf If]q -tn_ . ;g\ @)!)÷!! @)lrq !% M g]kfnsf] ;fdflhs ;'/If0f k|0ffnL M u/LaL / c;dfgtfdf c;/ @#

tflnsf !M s'n u/LaL b/ u0fgfsf] ljefhg *tflnsf @M k|To]s jif{sf nflu nufgLsf] If]qut cfjZostf, @)!!–@)@) !%

Page 6: Public Disclosure Authorized g]kfnsf nflu Ps b/b[li6 gLlt ... · i6 gLlt–;f/ ;+If]kviig]kfnsf nflu Ps b"/b[li6. dflysf] t'ngfdf_ . nufgLsf] 9f]sf vf]Ng'sf ;fy} ;j}sf nflu ;]jf kx'“r

vi g]kfnsf nflu Ps b"/b[li6 gLlt–;f/ ;+If]k

g]kfnnfO{ b|'t Pjd\ bLuf] cfly{s j[l4 xfl;n ug'{sf ;fy} dfgj ljsf; / u/LaL Go'gLs/0f kl/0ffddf ce}m ;'wf/ ug{ Pp6f gof“ cfly{s df]8]nsf] cfjZostf 5 . cfly{s j[l4 ;g\ @))% otf jflif{s rf/ k|ltztsf] cf};tdf r':t g} 5, tyflk ;/sf/sf dxTjfsf“IfL nIox? xfl;n ug{ cfjZos txeGbf lgs} tn 5 . ljk|]if0fdf pRr lge{/tf /x]sf] cy{tGqdf cfjZos ultzLntfsf] cefj 5 . u/LaL 36fpg / ;]jf kx'“rnfO{ lj:tf/ ug{ pNN]Vo pGglt ePsf] 5, / yk k|ult xfl;n ug{ /fHosf] ce}m b[9 / nlIft x:tIf]k cfjZos kg]{5 .

g]kfnsf] cfly{s ljsf;sf] df]8]nnfO{ k'gM kl/eflift ug{ ;/sf/L gLltx? …y|L cfO{Ú M OGe]i6d]06, OGk|mf:6«Sr/ / OGSn'hg cyjf nufgL, k"jf{wf/ / ;dfj]lztf -…nk";Ú_ df s]lGb|t x'g'k5{ . lbuf] cfly{s ljsf; df]8]nsf] cfwf/:tDe nufgL g} xf], t/ g]kfndf /fHo, Joj;fo / kl/jf/x?n] cToGt} cNk nufgL u5{g\ . o;}n], ljutsf] bzsdf s'n l:y/ k"“hL lgdf{0f s'n ufx{:y pTkfbg -s'ufp_sf] !( bzdnj ( k|ltzt / @@ bzdnj @ k|ltztaLr dfq /≈Øf] -b|'t cfly{s j[l4 eO/x]sf k"jL{ Pl;ofsf d'n'x?sf] #) k|ltzt jf Tof]eGbf

nufgL

;dfj]lztf

k"jf{wf/

a9L ;dfj]zL ;dfhn] åGåsf] hf]lvdnfO{ 36fp“5 / nufgLsf] jftfj/0fnfO{ ;an agfp“5

u'0ffTds rqmsf] ;DefJotf, nufgL / k"jf{wf/aLrdf ljBdfg x'G5

cfly{s j[l4sf nflu …y|L cfO{Ú

;f/ ;+If]k

r g]kfnsf nflu Ps b"/b[li6 gLlt–;f/ ;+If]k

Page 7: Public Disclosure Authorized g]kfnsf nflu Ps b/b[li6 gLlt ... · i6 gLlt–;f/ ;+If]kviig]kfnsf nflu Ps b"/b[li6. dflysf] t'ngfdf_ . nufgLsf] 9f]sf vf]Ng'sf ;fy} ;j}sf nflu ;]jf kx'“r

vii g]kfnsf nflu Ps b"/b[li6 gLlt–;f/ ;+If]k

dflysf] t'ngfdf_ . nufgLsf] 9f]sf vf]Ng'sf ;fy} ;j}sf nflu ;]jf kx'“r / cj;/x?sf] lj:tf/ ug{ ;fj{hlgs k"jf{wf/ lg0ff{os x'G5, t/ g]kfn cNk–;Dks{ / cNk–pmhf{ pknAwtfsf] cj:yfdf 5 . cGTodf, ha;Dd cfly{s j[l4sf] df]8]nnfO{ ;dfj]zLs/0fsf nflu ;dfof]lht ul/+b}g ta;Dd cfly{s j[l4n] dfq} c;dfgtf / u/LaL Go'gLs/0fdf lg/Gt/ / l56f] k|ult lbnfp“b}g . o:tf] ;dfof]hgn] ultdfg\ cfly{s j[l4nfO{ bLuf] agfpg ;S5 .

;/sf/L / lghL nufgL df}nfpgsf nflu yk ;xh jftfj/0f cfjZos 5 . g]kfndf, nufgLsf] jftfj/0f ;'wf/ ug{sf d'Vo cf}lrTo lgDgnufot /x]sf 5g\ M—

s_ ljQLo If]qsf] ;anLs/0f M o; If]qnfO{ cfly{s em6\sf vKg ;Sg]u/L a9L ;xgzLn / artnfO{ pTkfbgzLn k|of]usf nflu yk k|efjsf/L dWo:ystf{ agfpg Pjd\ clxn] ;]jf gkfPsf jf sd ;]jf kfO/x]sf Joj;fo / kl/jf/x?;DDf k'Ug a9L ;Ifd kfg{ .

v_ nufgLsf] jftfj/0fdf ;'wf/ M g]kfndf Joj;fo :yfkgf / lj:tf/df Joj;fox? -cfGtl/s / ljb]zL_n] ;fdgf ug'{kg]{ c8\rgx? x6fpg . of] sfo{;"rLn] Joj;fox?dfly lgofdssf] af]em sd u/fpg / >dsf] u}/ Hofnf nfut 36fP/ lgof{tsf nflu x'g] pTkfbgnfO{ k|efjL ;sf/fTds pT;fx lbg Pjd\ j}b]lzs nufgLstf{x?nfO{ g]kfndf yk ;lhnf] kx'“r lbg Wofg s]lGb|t ug]{5 .

u_ ;fj{hlgs ljQ Joj:yfkgsf] d"nk|jfxLs/0f M g]kfnn] ah]6 Joj:yfkgf agfPsf]] pNn]Vo …v]Ng] 7fp“Úaf6 nfe lng / ;fj{hlgs vr{ Joj:yfkgnfO{ cem /fd|/L sfd ug{;Sg] agfpg . o;sf nflu ah]6nfO{ gLltut k|fyldstfx?;“u ldnfg ug'{, k|To]s vr{ x'g] ?k}of“sf] pkof]lutf clej[l4 / yk nfe ;'lglZrt ug'{ cfjZos k5{ .

k"jf{wf/ k|j4{gsf nflu /fHon] dxTjk"0f{ e"ldsf lgjf{x ug'{kg]{ 5—/ o;sfnflu ah]6df kof{Kt v]Ng] 7fp“ klg 5 . cfly{s j[l4sf nflu nufgL / ;dfj]zLs/0fsf b'j} r'gf}tLx? ;fdgf ug{ k"jf{wf/ lg0ff{os xf] . /fd|f] ;fj{hlgs k"jf{wf/ lghL nufgL leœofpgsf nflu klxnf] cfjZostf xf] . o;sf

cltl/Qm, ;'wfl/Psf] pmhf{ cfk"lt{ / oftfoft ;Dks{ ;~hfnn] ;fgf pTkfbsx?nfO{—ahf/;Dd /fd|f] kx'“r lbP/—cfk\mgf Joj;fo k}mnfpg d2t u5{ / kl/jf/x?nfO{ ;fdflhs ;]jfsf] yk k|efjL pkof]u ug{;Sg] agfp“5 . t/ g]kfnsf k"jf{wf/hGo r'gf}tLx? b'e]{B 5g\ . ljZj a}+ssf] cg'dfgdf g]kfnn] ;g\ @)@) ;Dd k|To]s jif{ s'ufpsf] * b]lv !@ k|ltzt -;g\ @)!) nfO{ cfwf/ dfGbf_ k"jf{wf/sf ;a} If]qdf nufgL ug'{ cfjZos 5 . cfjZos nufgLn] kl/df0f / u'0f:t/ b'j} kIfsf sdLnfO{ ;Djf]wg ug'{ h?/L 5, vf;u/L 7"nf / ljz]if dx-Tjsf b'Oj6f k"jf{wf/sf If]q—oftfoft / pmhf{df . ;'wf/sf] Go'gtd sfo{;"rLdf lgDg nufotsf ljifo k5{g\ M–

s_ g]kfnsf] hn–;DefJotfnfO{ phfu/ ug'{ M lqrfln; xhf/ d]ufjf6 cfly{s?kn] lgsfNg ;Dej hnljB't IfdtfdWo] hl8t Ifdtf & ;o $^ d]ufjf6 5 / To;dWo] & ;o $ d]ufjf6 dfq /fli6«o k|zf/0fdf hf]l8Psf] 5 . hjls pRr vktsf a]nf of] dfu ! xhf/ (% d]ufjf6 k'U5 / bljPsf] dfu of]eGbf w]/} a9L x'g;S5 . o;}n] clxn] ;/s/L / lghL nufgLnfO{ c8\sfO /fv]sf c8\rgx?df Wofg s]lGb|t ug'{ cfjZos 5 . o;df g]kfn ljB't k|flws/0fnfO{ cfly{s?kn] bl/nf];“u v'§f 6]sfpg], gLltut ;+/rgf ;'b[9 agfP/ lghL nufgLstf{x?nfO{ plrt pTk|]/0ff lbg], / k|efljt dflg;x? -k|;f/0f nfOg n}hfg] af6f]sf] clwsf/ lbg]x?;d]t_nfO{ d'cfAhf lbgsf nflu gLltx? ;'b[9 agfpg] nufotsf ljifo k5{g\ .

If]q s'ufpsf] cf};t c+z, k|ltztdf

ljB't 3=3 – 4=5

oftfoft 2=3 – 3=5

vfg]kfgL / ;/;kmfO{ 1=1 – 1=6

l;+rfO{ 1=1 – 1=6

b"/;~rf/ 0=3 – 0=4

kmf]xf]/d}nf 0=2 – 0=3

hDdf 8=2 – 11.8

k|To]s jif{sf nflu nufgLsf] If]qut cfjZostf, @)!!–@)@)

;|f]t M ljZj a}+s, @)!$

% g]kfnsf nflu Ps b"/b[li6 gLlt–;f/ ;+If]k

Page 8: Public Disclosure Authorized g]kfnsf nflu Ps b/b[li6 gLlt ... · i6 gLlt–;f/ ;+If]kviig]kfnsf nflu Ps b"/b[li6. dflysf] t'ngfdf_ . nufgLsf] 9f]sf vf]Ng'sf ;fy} ;j}sf nflu ;]jf kx'“r

v_ g]kfnleq} / l5d]sLx?;“u ;Dks{ lj:tf/ M o;sf nflu, ;Def/df yk Wofg lbg'sf ;fy} sfof{Gjog lgsfox?aLr ;dGjo a9fP/ oftfoft k"jf{wf/df x'g] vr{sf] k|efjsf/LtfnfO{ ;'wf/ ug'{ cfjZos 5 . ;fy}, kmfi6 6«Øfs -sf7df8f}+–t/fO{_ h:tf ?kfGt/sf/L x:tIf]kx?df Wofg a9L s]lGb|t x'g'k5{ .

u_ vfg]kfgL cfk"lt{ / ;/;kmfO{ ;]jfdf ;'wf/ M o;df u|fdL0f vfg]kfgL cfk"lt{ of]hgfx?sf] l6sfpkgfdf ;'wf/ ug]{ / zx/L If]qsf ;]jf k|bfosx?nfO{ cem /fd|f] ;]jf lbg pTk|]l/t ug]{, bf]xf]/f] cjwf/0ff ;dflji6 5 .

u/LaL / c;dfgtfnfO{ b|'t ultdf 36fpgsf nflu pRr cfly{s j[l4 cfjZos zt{ xf], t/ olQ g} dfq kof{Kt xf]Og . ljutsf] pknAwLnfO{ w]/} xb;Dd g]kfnL k|jf;L sfdbf/x?sf] lghL of]ubfg / ;d'bfox?sf] pRr ;xgIfdtfn] ;Ifd agfPsf] xf] . yk ofqf cufl8 a9fpg] qmddf, ulx/f] / h8jt\ ul/aL af“sL ePsf If]q;Dd k'Ug, ;a} g]kfnLsf nflu cj;/x?—cfDbfgL dfq} xf]Og—k|efjsf/L ?kn] pknAw ePsf] ;'lglZrt ug{ / cfly{s em6\sfx?lj?4 lgl/xx?nfO{ kof{Kt ;'/If0f lbgsf nflu ;dfj]zL ;fj{hlgs gLltx?dfk{mt\ ;lqmo k|j4{g cfjZos 5 . o:tf] kl/efiffdf kg]{ ;dfj]zL ;dfh ;dflhs :yfloTjsf nflu ;xhdfq x'g] 5}g, clkt' ;a} g]kfnLnfO{ eljiod'vL aGg / k}mn“bf] cy{tGqdf, dfgj / ef}lts ;DklQdf ul/g] yk nufglsf;fy, k|efjsf/L?kn] ;xefuL x'g klg pgLx?nfO{ ;Ifd agfpg] 5 . o:tf] lj:tfl/t ;dfj]zL sfo{;"rLsf d'Vo cjojx?df lgDgnufot x'g]5g\M–

s_ s[lif pTkfbsTj / ljljwtf k|j4{g M s[lif If]qn] s'ufpsf] PsltxfO eGbf a9L lx:;f cf]u6\5 / g]kfnsf] hg;+Vofsf] tLg rf}yfO dflg;nfO{ /f]huf/L lbPsf] 5 . To;}n] o;df x'g] s'g}klg pknAwL ttsfn} / :jtM u/La;Dd k'U5 . ;xof]u

cfbfgk|bfg / s[lif k|ljlwdf cg';GwfgnfO{ a9fpg] ;/sf/L k|of;åf/f / s[lif Joj;fo tyf lgof{t ;DefJotf ePsf a:t'sf] d"No -clej[l4_ >[ª\vnf ljsf;sf nflu nlIft sfo{qmdx? nfu" u/]/ of] p2]Zo xfl;n ug{ ;lsG5 .

v_ ;a} g]kfnLsf] cj;/sf If]qsf] lj:tf/ M :jf:Yo / lzIff If]qdf ul/g] x:tIf]kdfk{mt\ ;]jf kx'“‘rdf ce}m af“sL /x]sf ;fdflhs / cfly{s c8\rgx?nfO{ x6fpg / To:tf] kx“‘'rnfO{ nfebfoL agfpg ;]jfsf] u'0f:t/nfO{ ;'b[9 kfg{sf nflu .

u_ ;fdflhs ;'/If0f sfo{qmdsf] u/LaL -Go'gLs/0f_df kg]{ k|efj ;'b[9 agfpg M sfo{qmdx?sf] yk lj:tf/nfO{ ;Lldt u/]/, sfof{Gjog jf k|zf;lgs k|0ffnLnfO{ ;an agfP/ / u/LaL Pj+ hf]lvd k|fyldstf / lg/xtfnfO{ ;Djf]wg ug]{ k|i6?kn] l8hfOg ul/Psf sfo{qmdåf/f .

3_ ljs]Gb|Ls/0fsf] tof/L M ;+3Lo /fHotk{msf] kbfk{0fsf] cy{ df}lns k|zf;lgs k'gM;+/rgf xf] . To;}n], cufl8 a9\g] qmddf k|zf;lgs k|0ffnLx?n] ;]jf k|bfosf nflu cfk\mgf] 7fp“af6 sfd ul//xg] / k|To]s txsf ;/sf/sf e"ldsfx? k|i6 / cfly{s ;|f]to'Qm ePsf] s'/f ;'lglZrt ug'{ dxTjk"0f{ 5 . slDtdf klg, ;/sf/n] ;+qmd0fsf] k|lqmofnfO{ cufl8 a9fpg] lhDd]jf/L ePsf ;+:yfx? :yflkt ug'{k5{ / cGt/–;/sf/L ljQLo k|jfxnfO{ lgwf{l/t ug'{k5{ . ;fy}, ;/sf/sf ljleGg txsf aLrdf sfo{ut lhDd]jf/L / sd{rf/L x:tfGt/0fsf] ;+/rgf ljsf; ug'{k5{ .

g]kfn;“u eljiosf] ;Dj[l4sf nflu alnof] hu xfNg] zfgbf/ cj;/ 5 . dfly k|:t't vfsf 5nkmnsf] ljifoj:t'sf ?kdf k|:tfljt ul/Psf] xf] . o;nfO{ gLlt–;f/x?sf] lj:t[t ljZn]if0f / k|ltj]bg ;+If]kx?n] k[i7kf]if0f u/]sf 5g\ .

h g]kfnsf nflu Ps b"/b[li6 gLlt–;f/ ;+If]k

Page 9: Public Disclosure Authorized g]kfnsf nflu Ps b/b[li6 gLlt ... · i6 gLlt–;f/ ;+If]kviig]kfnsf nflu Ps b"/b[li6. dflysf] t'ngfdf_ . nufgLsf] 9f]sf vf]Ng'sf ;fy} ;j}sf nflu ;]jf kx'“r

1 g]kfnsf nflu Ps b"/b[li6 gLlt–;f/ ;+If]k

!= Pp6f g]kfnL pvfg 5, …df}sf cfp“5 kv{b}gÚ, / g]kfndf Tof] df}sf 5f]Kg] ;do clxn] g} xf] . jf:tjdf u'd]sf cj;/x?n] ;tfO/xG5g\ M ultdfg\ cfly{s j[l4sf] jftfj/0f l;h{gf ug{ / To;nfO{ kNnljt ug{ g;Sbf bL3{sfnLg gsf/fTds c;/ k5{ . o;}nfO{ ;Dj[l4 / ljsf;sf] cj;/ d"No elgPsf] xf] . xfnsf jif{x?df g]kfnn] blIf0f Pl;ofsf d'n's / cfkm\gf l5d]sLx?;/x k|ult ug{ ;s]sf] 5}g . tyflk, a9\bf] /fhgLlts l:y/tf;“u}, d'n'ssf] pkof]u x'g g;s]sf] ;DefJotfaf6 k"/f nfe p7fP/ ljsf;df pgLx?nfO{ e]§fpg] cj;/ cfPsf] 5 .

@= g]kfnn] ljutdf dxTjk"0f{ k|ult xfl;n u/]sf] 5 . t/ yk / b|'t ;'wf/x?nfO{ d"t{?k lbg xfnsf] ljsf; df]8nnfO{ k'gM;+/rgf -l/–Ol~hlgol/ª_ ug'{ cfjZos 5 . clxn] g]kfnsf] ljsf;sf] h; ;f/df ljk|]if0f cfosf] andf a9]sf] pkef]u Pjd\ ;]jf If]qsf] pNn]Vo lj:tf/sf] k|j[lQnfO{ lbg ;lsG5 . of] k|j[lQ ;d:ofk"0f{ 5, lsgeg] d'n'ssf] pTkfbsTj ;DefJotfnfO{ cufl8 a9fpg pkef]u xf]Og nufgLsf] cfjZostf k5{ . clg dfq cf}Bf]lus If]qn] pTkfbsTjsf] yk nfe xfl;n ug]{ / ljZjJofkL d"No ;~hfn cyjf …Eofn' r]gÚdf cfkm"nfO{ Psfsf/ u/fpg] ug]{ yk ;DefJotf /xG5 . ;fy}, pa|]sf] >dzlQmnfO{ k|zf]rg ug{ ;S5 . g]kfnsf] ckof{Kt nufgLsf] pbf+uf] cj:yf d'n'ssf] k"jf{wf/df /x]sf] b'e]{B sdhf]/Ln] k|s6 u/]sf] 5 . o;sf ;fy}, pa|]sf] >dzlQm cgGt sfn;Dd

ljb]zd} vkt eO/xG5 eGg] dfGotf /fVg' ljj]sk"0f{ t x'“b}g g}, ;fdflhs b[li6sf]0faf6 klg of] pQd ljsNk xf]Og . csf]{ zAbdf, g]kfnsf o'jfsf nflu d'n'sleq} /f]huf/L l;h{gfsf nflu …3/leq}Ú b'|tQ/ cfly{s ljsf; cfjZos 5 . o;f] eGg'sf] cy{ xf], cfkm\gf ;fj{hlgs / lghL ;|f]tx? nufgLsf nflu v'Nnf ug'{ g} g]kfnsf nflu dWodsfnLg Pp6f k|d'v r'gf}tL xf] . ultdfg\ nufgL jftfj/0fsf] s]Gb|laGb'df k|efjsf/L k"jf{wf/x? /xg] ePsfn], pmhf{sf] cK7\of/f] ;dfwfg ug{ / ef/t Pjd\ cGo l5d]sL d'n'sx?nfO{ ljh'nL ljqmL u/]/ ;/sf/L cfDbfgL a9fpg, g]kfnn] tTsfn ug'{kg]{ sfo{ hnljB't\sf] ;DefJotfnfO{ pkof]u ug'{ xf] . csf]{ tTsfnsf] k|fyldstf eg]sf] d'n'se/ ljZj;gLo ;Dks{ ;~hfn agfpg / ljb]z;Ddsf] ahf/df kx'“r ;'lglZrt ug{ oftfoft k"jf{wf/sf] ljsf; ug'{ xf] .

#= ;dfj]zL gLltx? cfly{s ljsf; /0fgLltsf nflu pRr:t/sf kl/k"/s / jf:tjd} cljefHo kIf x'g\ . Psftkm{ cfly{s j[l4n] dfq ToxLcg'?ksf] dfgj ljsf;df ;'wf/ jf j[l4sf] nfenfO{ Gofof]lrt ljt/0f ;'lglZrt ub}{g eg] csf]{tkm{ a[xQ/ ;dfj]zLs/0fn] b"|t cfly{s ljsf;nfO{ klg k|j4{g u5{ . klxnf], clxn];Dd xfl;n ePsf k|efjzfnL pknlAwx?n] u/LaL / c;dfgtf Go"gLs/0fdf :jtM lg/Gt/tf kfpg]5g\ / oL b'O{{{ :jtM Pscsf{sf sf/s x'g]5g\ eg]/ dfGg' unt a'emfO x'g]5 . lsgeg], cfly{s j[l4n] u/LaL lgjf/0fnfO{ yk36 u/fpg] Ifdtf

kl/ro

Page 10: Public Disclosure Authorized g]kfnsf nflu Ps b/b[li6 gLlt ... · i6 gLlt–;f/ ;+If]kviig]kfnsf nflu Ps b"/b[li6. dflysf] t'ngfdf_ . nufgLsf] 9f]sf vf]Ng'sf ;fy} ;j}sf nflu ;]jf kx'“r

2 g]kfnsf nflu Ps b"/b[li6 gLlt–;f/ ;+If]k

;xof]uL gLltx?sf] cefjdf Go"g x'“b} hfG5 . jf:tjdf, cfly{s ljsf;df lgs} cl3Nnf] :t/df k'lu;s]sf w]/} d'n'sx? g]kfnn] clxn] g} xfl;n ul/;s]sf] hg;+Vofsf] @% k|ltzt u/LaL b/eGbf tn emfg{ ;+3if{ ul//x]sf 5g\ . o;sf cltl/Qm, ljutdf Go"g laGb'af6 z'? ubf{ klg b'|t k|ult xfl;n x'g ;Sof] . t/, cj;/x?df jf:tjdf g} ;dfgtf k|j4{g ug{sf nflu ;fdflhs ;rntf clej[l4 / ;]jfx?sf] u'0f:t/df ;'wf/ NofP/ ltgsf] kx'“r lj:tf/af6 pNn]Vo nfe lbnfpg g]kfnn] cem w]/} sfd ug{ af“sL 5 . bf];|f] s'/f, k|f/lDes cfly{s / ;fdflhs cj:yf h] eP klg -clxn]_ ;dfg k|s[ltsf cj;/x?df ;a}sf] plQs} kx'“r lbOPsf a9L ;dfj]zL ;dfhx?sf] pGglt l56f] x'g]u/]sf] 5 . lsgeg] JolQm / kl/jf/x?nfO{ dfgj ljsf; / eljiosf nflu nufgL ug]{ pTk|]/0ff ;dfj]zL ;dfhdf g} x'G5 .

$= of] gLlt–;f/n] g]kfndf b|'t, lbuf] / ;dfj]zL cfly{s j[l4 k|j4{gsf] vfsf k|:tfljt u/]sf] 5 . clxn] g]kfn nufgL jftfj/0f / k"jf{wf/df lg/Gt/ sdhf]/L ePsf] d'n'ssf] ?kdf lrlgPsf] 5 . oL b'j} hf]l8P/ ;Dk"0f{ d'n'ssf cfly{s ;DefJotfx?nfO{ bf]xg ug{df pNn]Vo c8\rg l;h{gf u/]sf 5g\ . oL c8\rgx? x'“bfx'“b} / åGåsf] ;dodf ;d]t klg g]kfn dfgj ljsf;df 7f]; ;'wf/ ug{ ;kmn eof] . tyflk, eljiosf] ljsf;, u/LaLsf] yk pGd"ng / g]kfnL ;dfhsf] ;dfj]lztftkm{sf] k|ult d'Vo?kn] b'|t cfly{s lj:tf/ xfl;n ug]{ s'/fdf lge{/ /xg]5 . nufgLsf nflu cfsif{s Jofj;flos jftfj/0fsf] l;h{gf / k"jf{wf/sf c8\rgx?nfO{ anzfnL 9+un] ;dfwfg u/]/ o:tf] cfly{s lj:tf/ ug{ ;lsG5 . To;kl5, pRr cfly{s j[l4nfO{ ;dfj]zLs/0f;“u ;dfof]lht ul/g' cfjZos 5, h;n] ubf{ yk ;DkGgtfdf kof{Kt?kn] ;fem]bf/L ;'lglZrt x'g ;S5 . ;fy}, pRr cfly{s j[l4n] v'nf ug]{ cj;/x?sf] bf]xg ug{ jf To;df kx'“r kfpg c;Ifd jf sdhf]/x? klg kl5 gk?g\ eGgsf nflu yk ;'/If0fsf pkfox? cfjZos x'g]5g\ . ;+If]kdf, g]kfnsf nflu ;du| ljsf;sf r'gf}tL eg]s} b'|t, lbuf] / ;dfj]zL cfly{s j[l4sf] k|j4{g ug'{ xf] . ;/sf/;“u eljiosf nflu alnof] hu lgdf{0fsf] 7"nf] cj;/ / lhDd]jf/L 5 . o:tf] cj;/ gof“ ;+ljwfgdfkm{t dfq xf]Og nIo–s]lGb|t / /0fgLts

ljsf;sf] b"/b[li6 sfof{Gjogaf6 klg k|fKt x'G5 .

%= k|i6 b[li6sf]0f lgdf{0f klxnf] cfjZos sbd xf], h;nfO{ sfof{Gjogn] clgjfo{ ;fy lbg'k5{ . g]kfnn] r'gf}tLx?sf] y'k|f] ;fdgf ul//x]sf]n] tLdWo] ;aeGbf afWofTds / cToGt h?/L r'gf}tLx?sf] klxrfg ug'{ sfo{;Dej, k|fyldsLs[t / k|efjsf/L ?kn] cg'udg ug{ ;lsg] of]hgfx? ljsl;t ug{sf nflu k"j{zt{ xf] . g]kfnL hgtfsf cfsf+Iffx? k|ltljlDat x'g] o:tf b"/b[li6 d'vl/t ug]{ If]qflwsf/ ;/sf/sf] xf] . of] k|ltj]bgdfkm{t\, ljZj a}+sn] cfly{s j[l4sf] Go"gtd sfo{;"rLsf ?kdf …y|L cfO{Ú– nufgL, k"jf{wf/ / ;dfj]lztf -nk";_–s]lGb|t ;Defljt If]qx? /]vf+lst u/]/ 5nkmnnfO{ ;xhLs/0f ug{ dfq} vf]h]sf] xf] . o; qmddf, of] gLlt ;+If]kn] ;a} If]qdf sfof{Gjogsf -/ ;DalGwt ;+:yfut_ r'gf}tLx? dxTjk"0f{ 5g\ eGg] :jtM dfg]sf] 5 . To;}n] o;sf] k|:tfljt ;'wf/ sfo{;"rLnfO{ sfo{;Dej gLltx? Pjd\ 5f]6f] cjlwdf oyfy{k/s?kn] xfl;n ug{ ;lsg] vfnsf, tTsfn nfedf s]lGb|t ul/Psf]] 5 . tL gLltx?sf] sfof{Gjogn] u'0ffTds gLlt rqmnfO{ em\jf§} z'? ug{ ;S5 / ;Defljt nufgLx?stf{nfO{ g]kfnsf k|flwsf/jfnfx? ;'wf/sf af/]df uDeL/ / nIos]lGb|t 5g\ eGg] ;+s]t o;n] lbG5 .

^= k|ltj]bgsf] of] ;f/ ;+If]kn] …y|L cfO{Ú -nk";_df cfwfl/t g]kfnsf] ljsf;sf /0fgLlts b"/b[li6 k|:t't u/]sf] 5 . o;kl5sf b'O{{{ v08n] g]kfnsf] tfhf Pjd\ jt{dfgsf] cfly{s j[l4sf] df]8]n / sfo{k|bz{gLdfly 5f]6f] ljZn]if0f k|:t't u/]sf 5g\ . of] ljZn]if0fn] dfgj ljsf; / u/LaL Go"gLs/0fsf] ;anLs[t df]8]naf6 ePsf pNn]Vo pknlAwx?nfO{ ;–;Gbe{ /fVg]5 eg] b'|t cfly{s j[l4, d'n'ssf] dWo cfosf] bhf{ / ;d'Ggltdfly ;fem]bf/L lbnfpgdf of] d]8]nsf ;Ldfx? klg pNn]v ug]{5 . To;kl5 …y|L cfO{Úsf] cjwf/0ffnfO{ yk lj:t[t?kdf k|:t't ub}{ oL 5gf]6 ePsf sfo{lbzfx? cNk / dWosfndf lsg olt w]/} dxTjsf 5g\ eGg] ljZn]if0f ul/Psf] 5 . clGtd v08n] d'Vo gLltut ;'emfjx?sf] ;f/;+If]k / lgisif{x? lgsfn]sf] 5, h;nfO{ ;f/ 6]a'ndf klg lbOPsf] 5 . of] k|ltj]bg ;f/ ;+If]kdf 5nkmn ul/Psf k|To]s ljifonfO{ ltgsf] lj:t[t ljZn]if0f / gLltut ;'emfj;lxt– To;} ljifo;“u ;DjlGwt gLlt l6Kk0fLdf yk ulx/fOsf;fy lbOPsf] 5 .

Page 11: Public Disclosure Authorized g]kfnsf nflu Ps b/b[li6 gLlt ... · i6 gLlt–;f/ ;+If]kviig]kfnsf nflu Ps b"/b[li6. dflysf] t'ngfdf_ . nufgLsf] 9f]sf vf]Ng'sf ;fy} ;j}sf nflu ;]jf kx'“r

3 g]kfnsf nflu Ps b"/b[li6 gLlt–;f/ ;+If]k

g]kfnsf] tfhf ljsf; cg'ej

&= g]kfnsf] ljsf;sf] tfhf k|If]k0f c;fdfGo vfnsf] /x]sf] 5 . o;n] d'n'ssf] ;antfsf clåtLo ;|f]t, vKg] Ifdtfsf ;fy} gfh'skgfnfO{ k|ltljlDat u5{ . åGåaf6 pDs]sf w]/}h;f] d'n'sx? -k'gM;+/rgf;“u hf]l8Psf]_ cfly{s j[l4sf] ult a9]sf] cg'ej u5{g\, hals tL d'n'sx? u/LaL / dfgj ljsf; kl/0fltx? -k|0ffnLut ;'wf/df a9L lge{/ eP/_df kl5 kg]{ u/]sf 5g\ . g]kfnn] eg] of] dfgs k|j[lQsf] k|lt5fof“ ag]sf] 5 . g]kfnsf] cy{tGq 7Ls} ultdf j[l4 eO/x]sf] 5 . tyflk, of] j[l4 t'ngfTds ?kn] ljutsf] eGbf / cGo blIf0f Pl;ofnL d'n's / l5d]sLx?sf] eGbf sd ultdf ePsf] 5 . ;fy}, xNsf j:t' pTkfbg If]q -nfO6 Dofg'k\mØfSrl/ª_sf] a9\bf] of]ubfg / cGt/f{li6«o d"No ;~hfndf cfa4tfsf nflu k|bz{g ug'{kg]{ ;+:yfut ?kfGt/0fn] rflx+ pN6f] ult kqm]sf] 5 . o;n] eljiosf] cfly{s lj:tf/sf] ultdfg\ ;DefJotfnfO{ k|Zgsf] 3]/fdf kf/]sf] 5 . o;sf] 7Lsljk/Lt, u/LaL tLj|?kn] 36]sf] 5, dfgj ljsf; / ;]jfdf kx'“rsf clws ;"rsx?df ;'wf/ ePsf] 5 . tyflk, tL cem} cfwf/e"t txdf 5g\ / ;]jfsf] u'0f:t/sf] uDeL/ lrGtf 5“b}5 .

*= o;y{, cufl8 a9\g] qmddf cfly{s j[l4nfO{ k'gMhfu[t ug'{ / cy{tGqnfO{ lbuf]?kn] pRr lj:tf/ kydf /fVg' d'Vo r'gf}tL /xg]5 . o;sf] u'9fy{ xf]– pkef]udf eGbf nufgLk|]l/t cfly{s j[l4sf] nIodf s]lGb|t /xg' xf], h'g j[l4 cfly{s ljljwLs/0f xfl;n ug{-/, pTkfbgzLn If]qnfO{ jf:tljs cj;/ lbg_sf nflu cfjZos 5 . ljBdfg If]qx?df pTkfbsTj clej[l4sf] k|ltkmn lng] ;DefJotfnfO{ a9fpg' klg cfjZos 5 .

(= ;fy;fy}, u/LaLlj?4sf] n8fO{+ cem} 6'+luPsf] 5}g . b'O{{{j6f r'gf}tLx? a9L k|i6 5g\ . klxnf], xfn}sf jif{x?df u/LaL pNn]Vo?kn] 36]sf] 5, tfklg g]kfnsf a9L b'u{d If]q / ;LdfGts[t ;d'bfonufotdf uDeL/ ljkGgtf ePsf :yfg -ks]6_x? cem} af“sL 5g\ . oL ks]6x?;Dd k'Ug'– / u/LaL Go"gLs/0fsf nflu cem yk k|of; ug'{– pNn]Vo ?kn] sl7g 5 . bf];|f], w]/} g]kfnLx? clxn] u/LaLsf] /]vfdfly pSn]sf t 5g\, t/ tLdWo] ax';+Vos cem} klg 8/nfUbf] 9+un] of] /]vf glhs} g} 5g\ . -cyjf, vf;} dfly pSng ;s]sf 5}gg\ ._ o;sf] cy{ xf], w]/} dflg; km]l/ u/LaLd} cf]ln{g] hf]lvd cem} pRr 5 . /, lbuf] ;DkGgtfsf nflu cfjZos kg]{, kl/jf/x?n] k"“hL -dfgj k"“hL;lxt_ ;l~rtL ug]{ u'~hfO; ;Lldt dfq /x]sf] 5 .

!)= d'Vo cj;/x?df kx'“rsf] c;dfgtf klg pRr /x]sf] 5 . cfodf ;dfgtf ;dfj]zL ;dfhsf] Pp6f dfq} kIf xf], h;n] cfbz{ cj:yfdf, cj;/x?sf] ;dfgtf -k|f/lDes cj:yf h] eP klg ;a}n] cfkm\gf] ;Dk"0f{ ;DefJotf xfl;n ug]{ Ifdtf_ klg lbg'k5{ . g]kfndf ;fdflhs ;]jfx? k'¥ofpg] sfo{ lj:tf/ ug{df b]lvg] u/L k|ult ePsf] 5 tfklg ;aeGbf cfwf/e"t txsf ;]jf;Ddsf] kx'“rdf klg pNn]Vo c;dfgtf ljBdfg 5 . o;sf cltl/Qm, cfwf/e"t lzIff / :jf:Yo ;]jfsf] u'0f:t/ clt g} Go"g 5 . o;n] ubf{ oL ;]jfsf nfeu|fxLx? eljiosf] >dahf/df a9L pTkfbgzLn / k|lt:kwL{ ;xefuL aGg] ;DefjgfnfO{ ;fy{s?kn] a9fpg] df}sf sd} 5 .

Page 12: Public Disclosure Authorized g]kfnsf nflu Ps b/b[li6 gLlt ... · i6 gLlt–;f/ ;+If]kviig]kfnsf nflu Ps b"/b[li6. dflysf] t'ngfdf_ . nufgLsf] 9f]sf vf]Ng'sf ;fy} ;j}sf nflu ;]jf kx'“r

4 g]kfnsf nflu Ps b"/b[li6 gLlt–;f/ ;+If]k

!!= dWo cfosf] d'n's aGg]tkm{ ljsf;sf] d'Vo 5nfª nufpgsf nflu g]kfnn] dWodsfnLg jf:tljs s'n ufx{:y pTkfbg -s'ufp_ j[l4b/ & k|ltzt agfpg] k|of; ug'{k5{ . l;4fGttM of] ;Dej 5 . t/, cf};t jflif{s j[l4b/ $ bzdnj @ k|ltzt -;g\ @))%–@)!#_ af6 j[l4b/ o;/L a9fpg d'n'ssf] cfly{s j[l4sf] df]8]nnfO{ nufgLd'vL agfpg ;f/e"t?kn] k'gM;dfof]lht u/L, g]kfnsf] cfly{s j[l4sf] ;DefJotfnfO{ k"0f{?kn] pkof]u ug'{ cfjZos 5 . ;an ;fj{hlgs ljQ, lbuf] / ;an rfn" vftf ;Gt'ng -lgof{tdf 7f]; sfo{k|bz{gL / ljk|]if0f / cfk|jfxdf k|i6 j[l4dfkm{t_, a9\bf] s[lif / ;]jfIf]qsf] pTkfbsTjh:tf cg's"n cj:yf /x] eg] klg bL3{sfnLg cfly{s j[l4sf] k|If]k0f $ b]lv % k|ltztsf] ;Ldfleq} /xg] b]lvG5 . o;y{ g]kfnsf] cfly{s j[l4sf] r'gf}tL s'g} b'e]{B lsNnfeGbf sd 5}g . /, ;a} k|d'v gLltut If]qdf clwstd /fhgLlts k|lta4tf cfjZos kg]{5 .

!@= ;g\ !((^ b]lv @))^ ;Ddsf] Ps bzs nfdf] u[xo'4 / o;cl3 psfnf] nfu]sf] g]kfnsf]

cfly{s j[l4 / ;+/rgfut ?kfGt/0f cfly{s j[l4sf] k|If]k0f lrq PSsfl; ef“lrg] ;+of]u Ps}k6s k/]sf] 5 . ;g\ !(^) sf] bzssf] cGTo÷!(&) sf] bzssf] k|f/Deb]lv otf cfly{s j[l4 -cf};tdf_ pNn]Vo / qmlds?kn] t/ plQs} k|i6 ptf/r9fj;lxt a9\g yfNof] . ;g\ !(^%–!(&$ sf aLr of] Go"g cf};tsf] dfq @ k|ltzt b/df a9\of] . t/, o;kl5sf b'O{{{ bzsdf qmdzM # bzdnj @ / % bzdnj @ k|ltztn] a9\of] . of] cjlwdf cfly{s j[l4 pNn]Vo 9+un] sd ptf/r9fjk"0f{ klg eof] . !(*) sf] bzssf] dWo;Dd cfOk'Ubf cfly{s ultljlwx?df tLj| p5fn cfof] . ;g\ !(*! df * bzdnj # / !(*$ df ( bzdnj & k|ltztsf] pRr j[l4 eof] . t/, To;kl5 tLj|?kn] 36\of] . o;kl5sf] bzsdf of] …Aof08Ú ;f“3'/f] eof], j[l4b/ Ps k6s Go"g ! bzdnj & k|ltzt / pRr * bzdnj @ k|ltzt k'Uof] . åGåsf jif{x? -!((^–@))^_ df ;fk]If :yfloTj /x]sf] eP tfklg cfly{s j[l4b/ gf6sLo?kn] t 36]g, t/ pNn]Vo ?kn] ;':t eof]– bzssf] cf};tdf k"/} ! k|ltzt sd x'g] u/L . cfp“bf lbgdf yk lbuf]kg / pRr cfly{s j[l4 xfl;n u/]/ b'j}nfO{ ;xjtL{ 9+un] n}hfg] d'Vo r'gf}tL /xg]5 .

!#= åGå lsgf/f nfu]kl5 klg cfly{s ultljlwx? kms]{/ cfPgg\ . zflGtsf] k|i6nfesf] cefjnfO{ ljleGg tl/sfn] JofVof ug{ ;lsG5 . klxnf], of] u[xo'4 nfdf] / lx+;|s lyof] tfklg o;n] g t ef}lts k"jf{wf/sf] pNn]Vo Iflt u¥of], g t of] cGTo x'g]lalQs} 7"nf] dfqfdf cfly{s ;xof]u / nufgL cfk|jfxsf] sf/s jf pTk|]/s aGg ;Sof] . bf];|f], ;lqmo åGå k|efjsf/L?kn] lsgf/f nfu]klg åGåsf] lj/f;tsf] ?kdf /fhgLlts cl:y/tf -PstGqLo zf;gaf6 ax'bnLo nf]stGqsf] hl6n ?kfGt/0f;lxt_ cfhko{Gt sfod} 5 .

!$= åGåkl5, g]kfnsf] xfn;fnsf] cfly{s sfo{k|bz{gLsf] a9L lrGtfhgs kIfrflx+ Pp6f tLj|, ;kf6 cfly{s c+s'/0fsf] cefjeGbf klg cfly{s j[l4b/sf] lg/Gt/ cf/f]xnfO{ sfod /fVg g;Sg' /x]sf] 5 . ;f“Rr}, ;g\ @))% b]lv cfly{s j[l4sf] cf};t b/ $ k|ltztsf] glhs /x]sf] 5 . u[xo'4 6'+luPkl5 klg cfly{s j[l4nfO{ k'gMhfu[t ug{ g;Sg'sf] kl/0ffd

;|f]t M n]vsx?sf] u0fgf

lrq != jt{dfg cfly{s j[l4sf] cj;/ d"No

cfly{s j[l4sf ljleGg dfGotfcg'?k k|ltJolQm /fli6«o cfo

With 4.5 percent With 7 percent

1800

1600

1400

1200

1000

800

600

400

200

02013 2014 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 2026 2027

Page 13: Public Disclosure Authorized g]kfnsf nflu Ps b/b[li6 gLlt ... · i6 gLlt–;f/ ;+If]kviig]kfnsf nflu Ps b"/b[li6. dflysf] t'ngfdf_ . nufgLsf] 9f]sf vf]Ng'sf ;fy} ;j}sf nflu ;]jf kx'“r

5 g]kfnsf nflu Ps b"/b[li6 gLlt–;f/ ;+If]k

g]kfn / af“sL blIF0f Pl;ofaLrsf] ;DaGw la:tf/} cnuynu x'g yfn]sf] 5 . g]kfnsf] k|ltJolQm s'n ufx{:y pTkfbg a+unfb]z, ef/t / kfls:tfgsf]eGbf nuftf/ tn /x]sf] / oL b]zx?n] ;an / lbuf] cfly{s ljsf;sf] ult a9fPsf sf/0f km/sdf tLj| j[l4 ePsf] 5 . ;g\ !((% df g]kfndf u[xo'4 z'? x'“bf g]kfn / a+unfb]zsf] k|ltJolQm s'ufp km/s #% cd]l/sL 8n/ lyof] . ;g\ @))% df åGå cGo x'“bf km/s !)) 8n/ k'u]sf] lyof] . To;otfsf ;ft jif{df of] km/s @)) 8n/df k'u]sf] 5 . g]kfnn] cfkm\gf tLj| cfly{s ljsf; ul//x]sf l5d]sLx?;“usf] of] km/snfO{ sd ug{ t k/} hfcf];\ klxn]s} km/snfO{ sfod /fVg klg g;s]sf] ;+s]t o;n] u5{ .

!%= g]kfn cfly{s j[l4sf] ;dpRr laGb'df k'u]sf]– / ;DejtM Toxf“ 6Ss} cl8Psf]– k|i6?kn] b]lvg'sf ;Da4 sf/0fx? 5g\– !_ cfly{s j[l4sf/s tTjx?df cfPsf] kl/jt{g /, @_ Go"g :t/sf] nufgL . g]kfnn] b'|t ultdf cfly{s j[l4 eO/x]sf pbLodfg cy{tGqx?n] cg'ej u/]h:tf] ;+/rgfut ?kfGt/0fsf] dfu{nfO{ cg';/0f u/]sf] 5}g . g]kfn Jofks?kn] u|fdL0f cy{tGq /x]sf] ePklg s'n d"No clej[l4df s[lifsf] of]ubfg lg/Gt/ 36\bf] ?kdf 5 . ;g\ !(&) sf] bzsdf s'n ufx{:y pTkfbgsf] tLg rf}yfO{ lx:;f cf]u6\g] s[lifsf] of]ubfg clxn] #% k|ltzteGbf sddf cf]n]{sf] 5 . ;g\ !(() sf] bzssf] dWo / åGåsf] z'?jfttfsf;Dd ;fk]If?kn] 36\bf] s[lifsfo{sf] nfe pBf]u / ;]jf b'j} If]qn] lnPsf lyP . b'j} If]qn] em08} ;dfg cg'kftdf dxTj kfPsf lyP . To;kl5 eg] pBf]usf] lx:;f ;g\ !((^ df @# k|ltztsf] pRr ljGb'af6 36]/ clxn] kmut !% k|ltztdf cfPsf] 5 . o;sf] 7Lsljk/Lt u[xo'4sf] z'?sf a]nf s'ufpdf #^ k|ltzt of]ubfg /x]sf] ;]jf If]qsf] lx:;f a9]/ clxn] %) k|ltzteGbf dfly k'u]sf] 5 . ;g\ @))% / clxn]sf] cjlwdf ;du| cfly{s j[l4 / cf}Bf]lus ljsf;sf] cGt/;DaGw gsf/fTds -lgu]l6enL sf]l/n]6]8_ b]lvPsf] 5 . o;n] cfly{s j[l4df cf}Bf]lus If]qsf] 36\bf] of]ubfgnfO{ O+lut u5{ .

!^= ;]jf If]qn] eljiosf] cfly{s lj:tf/sf nflu 7f]; hu a;fN5 t < eGg] cfk}+mdf Pp6f dxTjk"0f{ k|Zg xf] . g]kfnsf] ;]jf If]qn] eljiodf b'|t clfy{s

;|f]t M ljZj a}+s, ljZj ljsf; ;"rsf+s

lrq @ M g]kfnsf] cfly{s j[l4sf] ;dpRr ljGb'

10

8

6

4

2

0

–2

–4

s'ufp j[l4 -jflif{s k|ltzt_

1960 1965 1970 1975 1980 1985 1990 1995 2000 2005 2010

Avg. Growth annual %

1=98 3=22 5=16 4=10 4=18

1965–74 1975–84 1985–94 1995–04 2005–13

;|f]t M ljZj a}+s, ljZj ljsf; ;"rsf+s

lrq # M hg;+Vof j[l4 sd x'Fbf klg k|ltJolQm cfo j[l4sf] ;':t ult

g]kfn afª\nfb]z kfls:tfgef/t

1960 1964 1968 1972 1976 1980 1984 1988 1992 1996 2000 2004 2008 2012

1200

1000

800

600

400

200

0

k|ltJolQm s'ufp -cd]l/sL 8n/ @))% df_

Page 14: Public Disclosure Authorized g]kfnsf nflu Ps b/b[li6 gLlt ... · i6 gLlt–;f/ ;+If]kviig]kfnsf nflu Ps b"/b[li6. dflysf] t'ngfdf_ . nufgLsf] 9f]sf vf]Ng'sf ;fy} ;j}sf nflu ;]jf kx'“r

6 g]kfnsf nflu Ps b"/b[li6 gLlt–;f/ ;+If]k

j[l4nfO{ s'g xb;Dd pTk|]l/t ug{ ;Snf eGg] ljifo sDtLdf b'O{{{ sf/0fn] ;Gb]xf:kb 5 . klxnf], g]kfnsf] ;]jf If]q ef/tsf] h:tf] 5}g . of] cem} Jofks?kn] cgf}krfl/s / ckl/:s[t 5 . To;}n] pTkfbsTj j[l4 cyjf km}nfj6sf/L k|efj l;h{gf ug]{ sd} ;DefJotf 5 . ;]jf If]q– s'ufpdf of]ubfgsf b[li6n]– yf]s / v'b|f Jofkf/ If]qn] cf]u6]sf] 5 . To;kl5, ;fd'bflos / ;fdflhs ;]jfx?, 3/hUuf / lzIff ;]jf cfpF5g\ . cfly{s j[l4sf b[li6df ;aeGbf ultzLn ;]jf–pkIf]qx?df ;fd'bflos / ;fdflhs ;]jfx?, :jf:Yo / ;dfh;]jf Pjd\ lzIff 5g\ . bf];|f], ;]jfIf]qsf] lj:tf/ gf6sLo ?kn] a9]sf] ljk|]if0f cfk|jfx;“u lgs6 ?kn] ;DalGwt 5, h;sf] eljiosf] cfly{s j[l4nfO{ ;3fpg] ;DefJotf, clxn] g} of] clwstd txdf k'lu;s]sf]n], ;Lldt b]lvG5 .

!&= l;+uf] cy{tGqsf] cfly{s j[l4sf] ;DefJotfnfO{ Go"g txsf] ;fj{hlgs / lghL nufgLn] v'DRofPsf] 5 . nufgLsf nflu cfly{s ;|f]t pknAw x'“bfx'“b} o:tf] ePsf] 5 . s'ufpsf] c+zsf ?kdf s'n l:y/ k"“hL lgdf{0f ;g\ @))% / @)!) sf aLrdf ;fdfGo?kn], s'ufpsf] @) af6 ;aeGbf a9L @@ k|ltzt dfq x'g]u/L a9f]Q/L eof] . km]l/ @)!# df cf]n]{/ @! k|ltztdf cfof] . kfls:tfgsf] ckjfbnfO{ 5f8]/ s'ufpdf o:tf] k"“hL lgdf{0fsf] c+z c? blIf0f Pl;ofnL d'n'sx?df b]lvPsf] eGbf of] pNn]Vo?kn] tn xf] . of] cjlwdf ;/sf/L s'n l:y/ k"“hL lgdf{0fsf] ljr/0f @ bzdnj & / $ bzdnj & k|ltztsf] ;f“3'/f] cGt/df dfq eof] . ;g\ @)!# df of] s'ufpsf] lgdf{0f kmut # bzdnj % k|ltztdf em¥of] . cgf}7f] s] eg], o:tf] sd nufgL s7f]/ ljQLo ;Gt'ng /÷cyjf rfn" vr{ cTolws x'g'sf nIf0fx? lyPgg\ . ;g\ @)!) / @)!# sf aLrdf ah]6 ;Gt'ng tn s'ufpsf] ! k|ltzt -3f6f_ / dfly ;g\ @)!# df s'ufpsf] @ k|ltzt -art_aLr tndfly eO/x\of] . ;g\ @)!# df g]kfn blIf0f Pl;ofdf ah]6 -3f6f gePsf]_ Pp6} dfq d'n's lyof] . To:t}u/L, ;Defljt j}b]lzs nufgLstf{x?sf] cleJoQm rf;f], -/ g]kfnsf] bf]xg x'g g;s]sf] hnljB't Ifdtf_ / s'ufpsf] @% k|ltzt k'Ug] u/L ePsf] pRr dfqfsf] lghL afx\o ;|f]tsf] cfk|jfx x'“bfx'“b} klg lghL nufgL dGb cj:yfdf g} 5 . xfnsf jif{df ljk|]if0fsf] cfk|jfxdf ePsf] 7"nf] j[l4 ljQLo k|0ffnLsf] t/ntfsf] y'k|f]df ?kfGtl/t ePsf] 5, t/

;du| cfly{s j[l4sf] ;x–;DjGw u'0fs -sf]l/n]zg sf]lkml;oG6_d"No clej[l4 ;lxtsf] j[l4 s[lif pBf]u ;]jfx?!(&$–!(*$ )=*! )=#( )=&*!(*%–!(($ )=^* )=#^ )=##!((%–@))$ )=$( )=&$ )=*!@))%–@)!@ )=^% –)=$* )=*$

s'ufpsf] k|ltztdf s'n d"No clej[l480

70

60

50

40

30

20

10

01975 1980 1985 1990 1995 2000 2005 2010

;f]tM g]kfn /fi6« a}s

lrq %M cfwf/e"t ;]jfx?sf] afx'Notf

yf]s / v'b|f Jofkf/

xf]6]n / /]i6'/]G6

oftfoft, e08f/0f / ;~rf/

ljQLo dWo:ytf

3/hUuf, axfn / Joj;fo

;fj{hlgs k|zf;g / /Iff

lzIff

:jf:Yo / ;fdflhs sfo{

cGo ;fd'bflos, ;fdflhs / JolQmut ;]jf

yf]s / v'b|f Jofkf/

cGo ;fd'bflos, ;fdflhs / JolQmut ;]jf

:jf:Yo / ;fdflhs sfo{

lzIff

;fj{hlgs k|zf;g / /Iff

3/hUuf, axfn / Joj;fo

ljQLo dWo:ytf

oftfoft, e08f/0f / ;~rf/

xf]6]n / /]i6'/]G6

yf]s / v'b|f Jofkf/

0=0 1=0 2=0 3=0 4=0 5=0 6=0 7=0 8=0 9=0

8=7

7=3

5=9

4=7

2=4

3=7

6=1

5=6

5=2

lrq $M cfly{s j[l4sf abln+bf sf/sx? / ;]jf If]qsf] pbo

;|f]t M ljZj a}+s, ljZj ljsf; ;"rsf+s -/ n]vsx?sf] u0ffgf_

s'ufpdf ;]jf pkIf]qx?sf] of]ubfg @)!@–!#

;]jf pkIf]qx?sf] cf};t j[l4b/, 2008÷09”2012÷13 -l:y/ d"Nodf_

pBf]u s[lif ;]jfx?

Page 15: Public Disclosure Authorized g]kfnsf nflu Ps b/b[li6 gLlt ... · i6 gLlt–;f/ ;+If]kviig]kfnsf nflu Ps b"/b[li6. dflysf] t'ngfdf_ . nufgLsf] 9f]sf vf]Ng'sf ;fy} ;j}sf nflu ;]jf kx'“r

7 g]kfnsf nflu Ps b"/b[li6 gLlt–;f/ ;+If]k

;f]tM ljZj a}+s, ljZj ljsf; ;"rsf+s / g]kfn /fi6« a}s

lrq ^ M ultdfg\ cfly{s j[l4nfO{ ;3fpg] s"n nufgLsf] clt Go"g ult

lrq & M nufgLsf cK7\of/fx?

;f|]tM cfly{s j[l4 lgbfg ljzn]if0fdf cfwfl/t n]vsx?sf] u0fgf

Tof] t/ntfnfO{ lghLIf]qn] C0fsf] ?kdf p7fpg] qmd rflx+ ;fk]IftM sd 5 . ;fy}, j}b]lzs k|ToIf nufgLdf j[l4 t ePsf] 5, t/ To;sf] cfwf/ g} ;fgf] -cfj @)!) df # s/f]8 *) nfv cd]l/sL 8n/af6 cfj @)!# df !) s/f]8 @) nfv 8n/_ 5 . /, o;sf] s'ufpdf ;Lldt -cfj @)!# df z"Go bzdnj % k|ltzt_ c+z dfq of]ubfg /x]sf] 5 .

!*= tTsfnsf nflu ;fj{hlgs / lghL b'j} k|sf/sf nufgLdf b]lvPsf afwfx?nfO{ a'em\g] / ltgaf6 kf/ kfpg] ljifo g]kfnsf nflu Psdfq ;aeGbf dxTjk"0f{ ljsf; r'gf}tL xf] . /fhgLlts cl:y/tf cyjf jf:tljs d'b|fsf] clwd"Nof+sgsf sf/0f cfPsf] t'ngfTds nfexLgtfsf] cj:yfsf] ;dfwfg tTsfnsf nflu /fhgLlts?kn] ;Dej jf cfly{s ?kn] ck]lIft gx'g ;S5 . -d'b|fsf] clwd"Nof+sg ef/t;“usf] l:y/ ljlgod k|0ffnL / 7"nf] dfqfsf] lghL ljk|]if0f cfk|jfxsf] ;+o'Qm k|efjsf ?kdf b]lvPsf] 5_ . oBlk nufgL clej[l4 u/]/ g]kfnnfO{ pRr cfly{s j[l4sf] dfu{df kmsf{pgsf nflu eg] w]/} sfd ug{ ;lsG5 . sDtLdf klg, gLltx? lghL nufgLsf vf;vf; c8\rgx?, sdhf]/ nufgL jftfj/0f / k"jf{wf/sf] 7"nf] cefjnufotnfO{ x6fpg]tkm{ nlIft x'g} k5{ .

2011 2012 2013

25

20

15

10

5

0

45

40

35

30

25

20

15

10

5

01975 1979 1983 1987 1991 1995 1999 2003 2007 2011

Total GFCF Gross domestic savings Gross national savings

Go"g nufgL

ljQLo ;]jfsf] pRr nfut

ljQLo pknAwtf M 5}g–Go"g jf:tljs Aofh b/–a}+lsª k|0ffnLdf pRr t/ntf–af≈Ø ;|f]taf6 ePsf]

nufgLof]Uo sf]if j[l4df nufgLsf] sdhf]/ rf;f]

–Go"g jf:tljs Aofh b/

ljQLo dWo:ytf M 5–ljQLo ;]jfdf jf:tljs kx'“r

Go"g

Go"g cfly{s -;fdflhs_ k|ltkmn

-;fdflhs_ k|ltkmnsf] Go"g lghL ljlgof]hg

sdhf]/ dfgj k"“hL < xf]OglzIff ÷zLksf] yk nfe 7Ls} dfqfsf] dfq

ck'u k"jf{wf/ < xf] –pmhf{sf] lghL

cfk"lt{–k"jf{wf/

;3gtffOt/ ultljlwsf] afx'Notf

v/fa e"uf]n < xf] / xf]Og

–c;lhnf] e"–agf]6–rlDs+bf] ahf/sf]

lgs6tf

sdhf]/ gLltut aftfj/0f < xf]

–/fhgLlts cl:y/tf

–gLltut clglZrttf

–e|i6frf/–>lds–/f]huf/

bftf åGå

sdhf]/ 9+un] rn]sf ahf/ < xf] / xf]Og

–af≈Ø k|lt:kwf{Tds Ifdtfsf] Ifo

–pTkfbg ljljwtf

cfly{s ultljlwsf] Go"g k|ltkmn

;/sf/L s'n l:y/ k"“hL lgdf{0f -s'ufpsf] k|ltzt_

g]kfnM art / nufgL -s'ufpsf] k|ltzt_

ckmuflg:tfg afª\nfb]z e'6fg ef/t dfnlbE; g]kfn kfls:tfg >Ln+sf

Page 16: Public Disclosure Authorized g]kfnsf nflu Ps b/b[li6 gLlt ... · i6 gLlt–;f/ ;+If]kviig]kfnsf nflu Ps b"/b[li6. dflysf] t'ngfdf_ . nufgLsf] 9f]sf vf]Ng'sf ;fy} ;j}sf nflu ;]jf kx'“r

8 g]kfnsf nflu Ps b"/b[li6 gLlt–;f/ ;+If]k

!(= ;fk]IftM ;fdfGo ultsf] cfly{s j[l4 x'“bfx'“b} klg g]kfnn] u/LaL Go"gLs/0f / dfgj ljsf;df pknlAwsf] 7"nf] km8\sf] df/]sf] 5 . ljut !% jif{df k|ltJolQm pkef]u x/]s jif{ cf};tdf # bzdnj % k|ltztn] a9]sf] 5 . /, ;g\ !(*) / @)!) sf aLrdf dfgj ljsf; ;"rsf+s k|ltjif{ cf};t @ bzdnj ̂ k|ltztsf b/n] j[l4 ePsf] 5 . u/LaLsf xsdf, ;g\ @)!)–!! df cfOk'Ubf @% k|ltzt hlt g]kfnL hgtf dfq} u/LaLsf] /]vfd'lg 5g\ . of] ;g\ !((%–(^ sf] t'ngfdf pNn]Vo, sl/a #) k|ltztn] sdL xf] . qmozlQm ;dfgtf jf kr]{lhª kfj/ Kofl/6L -kLkLkL_df cfwfl/t cd]l/sL 8n/ ! bzdnj @% k|ltJolQm k|ltlbg cfosf] cGt/f{li6«o u/LaL/]vf k|of]u u/]/ x]bf{ u/La hg;+Vofsf] cg'kft cfwf 36]/ ;f] cjlwdf @$ bzdnj * k|ltzt ePsf]

5 / ljBdfg u/LaL b/ sd ug{df g]kfnn] a+unfb]z / ef/t b'j}nfO{ pl5g]sf] 5 .

@)= g]kfnsf] u/LaL Go"gLs/0f, Go"g txsf] zx/Ls/0fnfO{ k|ltljlDat ub}{, d'Vo u/L u|fdL0f If]qdf g} ePsf] 5 . u/LaL lgjf/0fsf] em08} (@ k|ltzt sfd d'n'ssf] u|fdL0f If]qdf ePsf] 5 . s[lifsf] :j/f]huf/af6 a9]sf] cfo, u}/s[lif IF]qsf] Hofnf cfpg] -u|fdL0f_ /f]huf/L / ljk|]if0f cfon] of] u/LaL 36]sf] xf] . ljk|]if0fn] lk+wsf b'O{{{ k~rf+z hgtfsf] cfodf tLg rf}yfO{ j[l4 u/]sf] 5 . s[lifdf lge{/ hg;+Vofsf] c+z ! s/f]8 %) nfvsf] cf“s8fdf -kl/jf/sf] 36\bf] cfsf/ / dflg;x? s[lif kf]zfaf6 aflxl/g] sf/0f_ l:y/ /x]sf] 5 .

;|f]tM ljZj a}+s sd{rf/Lx?sf] g]kfn hLjg:t/ ;j]{If0f ;g\ @)!)–!! df cfwfl/t cg'dfg

tflnsf !M s'n u/LaL b/ u0fgfsf] ljefhg

u/LaL Go"gLs/0f / dfgj ljsf;df ePsf pknlAw / af“sL r'gf}tLx?

;g\ @)!)–!! sf] u/LaL cg'dfg If]q cjl:ylt ljt/0f

s'n u/LaLb/ u/LaL km/s -!)) u'0ff_ u/LaL km/s juL{s[t -!)) u'0ff_ u/La hg;+Vof s'n hg;+Vofzx/L 15=5 3.2 1.0 11.7 19.0

u|fdL0f 27=4 6.0 2.0 88.3 81.0

k"jf{~rfn 21=4 3.8 1.0 19.8 23.3

dWodf~rn 21=7 5.0 1.8 30.8 35.7

klZdf~rn 22=2 4.3 1.4 16.9 19.2

dWoklZrdf~rn 31=7 7.7 2.7 16.4 13.0

;'b"/ klZrdf~rn 45=6 10.7 3.8 16.0 8.8

lxdfn 42=3 10.1 3.5 11.8 7.0

kxf8 24=3 5.7 2.1 42.8 44.2

t/fO{ 23=4 4.5 1.3 45.4 48.7

lxdfn 42=3 10.1 3.5 11.8 7.0

zx/L–sf7df8f}+ 11=5 2.8 1.0 2.6 5.7

zx/L–kxf8 8=7 1.7 0.5 1.5 4.4

zx/L–t/fO{ 22=0 4.3 1.3 7.5 8.6

u|fdL0f kxf8–k"jf{~rfn 15=9 2.9 0.8 4.0 6.3

u|fdL0f kxf8–dWodf~rn 29.4 8.5 3.7 10.8 9.3

u|fdL0f kxf8–dWodf~rn 28.0 5.3 1.8 10.5 9.5

u|fdL0f kxf8–dWo / ;'b"/ klZrdf~rn 36.8 8.9 3.1 13.3 9.1

u|fdL0f–t/fO{ k"jf{~rfn 21.0 3.7 0.9 9.6 11.6

u|fdL0f–t/fO{ –dWodf~rn 23.1 4.1 1.1 13.9 15.1

u|fdL0f–t/fO{–klZrdf~rn 22.3 4.4 1.4 5.9 6.6

u|fdL0f–t/fO{ –dWo / ;'b"/ klZrdf~rn 31.1 7.2 2.5 8.5 6.9

g]kfn 25.2 5.4 1.8 100.0 100.0

Page 17: Public Disclosure Authorized g]kfnsf nflu Ps b/b[li6 gLlt ... · i6 gLlt–;f/ ;+If]kviig]kfnsf nflu Ps b"/b[li6. dflysf] t'ngfdf_ . nufgLsf] 9f]sf vf]Ng'sf ;fy} ;j}sf nflu ;]jf kx'“r

9 g]kfnsf nflu Ps b"/b[li6 gLlt–;f/ ;+If]k

k|ltz

t

lrq * M u/LaLsf] /]vfdfly y'lk|Psf] g]kfnL hg;+Vof

;|f]tM n]vsx?sf]] g]kfn hLjg:t/ ;j]{If0f ;g\ @)!)–!! df cfwfl/t cg'dfg

6

4

2

00 1 2 3 4 5

o:t}, s[lif cfosf] j[l4 -k|ltjif{ # k|ltzt_ 7\ofSs} k|ltJolQm cfo j[l4sf] b/ ;dfg 5, h;nfO{ k[i7e"lddf s[lifdf ePsf nufgLaf6 k|fKt x'g yfn]sf] pRr k|ltkmn / u|fdL0f cy{tGqdf a9\bf] Hofnfb/n] ;3fPsf] 5 .

@!=hLjg:t/df ePsf] ;'wf/ d'n'ssf ;a} efu -e"v08x?– lxdfn, kxf8, t/fO{, If]qx? / hflt÷hghflt ;d"xx?_df ljtl/t ePsf] 5 / jf:tjdf sd vr{ ug{ ;Sg] ju{df of] ;'wf/ emg\ l56f]l56f] ePsf] 5 . tyflk, ljBdfg u/LaLsf] cj:yfdf e"efu, If]q / ;d"xx?aLr km/flsnf] cGt/ /xL g} /x]sf] 5, / u/LaL u|fdL0f cy{tGqsf] vf; rl/qsf ?kdf /x]sf]5 . ;g\ @))$–)% b]lv ;g\ @)!)–!! sf] cjlwdf k|To]s vr{–Ifdtf ju{sf] k|ltJolQm pkef]udf j[l4 eof] . a9L u/La ju{n] cem} w]/} j[l4sf] cg'ej u/], h;af6 ;du| c;dfgtf sd u¥of] . t}klg, km/s kl/b[Zox? cem} klg pNn]vgLo?kn] af“sL 5g\ . @& bzdnj $ k|ltztdf /x]sf] u|fdL0f If]qsf] u/LaL zx/L If]qsf] -!% bzdnj % k|ltzt_t'ngfdf pNn]Vo ?kn] a9L 5 . To;df klg ;'b"/klZrdsf ufp“ -$% bzdnj ^ k|ltzt_ / lxdfnL If]qdf -$@ bzdnj # k|ltzt_ pRrtd /x]sf] 5 . u/LadWo] sl/a () k|ltzt hgtf u|fdL0f IF]qdf a;f]af; u5{g\ . t/, u/LaLsf] ljBdfg b/ / o;df s'n hg;+Vofsf] c+zsf] eg] ljk/Lt ;DaGw b]lvG5 . g]kfnsf clt u/Lax? dWoIf]q -;fk]IftM sd u/LaL b/ ePsf If]q_ / t/fO{ tyf kxf8df e]l6Psf 5g\ .

@@= pkef]udf ;du| c;dfgtf sd 5 . t/, c;dfgtfsf] u}/df}lb|s cfofd -h:t} :jf:Yo Pjd\ lzIffdf k|ult_n] eg] km/s lrq k|:t't u5{ . ;g\ @)!! df #) k|ltztdf /x]sf] lhgL nAwf+s -sf]lkml;oG6_ cg';f/ k|ltJolQm pkef]usf lx;fadf g]kfn blIF0f Pl;ofsf ;aeGbf ;dfgdWo]sf] Ps /fi6« xf] . o;sf u|fdL0f If]qeGbf zx/L If]q clnslt a9L c;dfg 5g\ . a9L ;dfg -k"jf{~rn_ / sd ;dfg -klZrdf~rn_ If]qx?aLr klg If]qut ;dfgtfdf ;fdfGo dfq} km/s 5 . ;fy;fy}, If]qLo pkef]u / ljifout u/LaLsf] txdf eg] 7"nf] cGt/ 5 . pbfx/0fsf nflu sd u/La zx/L IF]qdf a;f]af; ug]{ / u/Latd lxdfnL If]qdf a;f]af; ug]{ b'j} ;d"xsf dflg;x? ljBfno lzIff / :jf:Yo ;]jfdf c;'ljwf ePsf] dx;'; u5{g\ . ef}uf]lns

ljefhgsf IF]qdWo] ;fj{hlgs ;]jf pknAwtfsf] lxdfnL If]qdf tLj| cefj cg'e"t x'G5 . oxf“sf @% k|ltzt dflg; ljBfno lzIffsf] ;]jf ckof{Kt ePsf] atfp“5g\, hals of] k|ltzt t/fO{df !^ k|ltzt dfq 5 .

@#= ;fj{hlgs ;]jfsf] kx'“rdf pNn]vgLo j[l4 ePsf] 5 . t/, ;fydf ljleGg cfo ;d"xaLr kx'“rsf] cGt/ km/flsnf] x'“b} 5 / To;sf] kl/0ffd:j?k cj;/ / ;fdflhs ;rntf -ultzLntf_df klg of] km/s a9\bf] 5 . u/Lasf] ax'cfoflds ;"rsx?dWo] ljut kGw| jif{df w]/}j6f tLj|?kn] 36]sf 5g\ . g]kfnh:tf] ljsf;zLn d'n'ssf nflu lzIff / :jf:Yo ;DjGwL k"jf{wf/ Pjd\ ;]jf ;/sf/L ;]jfdWo] ;aeGbf tTsfnLg k|fyldstfdf /x]sf 5g\ . ltgsf ;fj{hlgs Joj:yfx?nfO{ ;'wf/ ug{, a9\bf] ljk|]if0f cfon] dflg;x?sf] vr{Ifdtfdf ePsf] j[l4;“u}, lghL ;]jf k|bfosx?n] klg kl/k"/ssf] sfd u/] . …ljBfno 5f]8\g] s]6fs]6LÚ, …k|fylds ljBfno k'Ug nfUg] ;doÚ / …;'/lIft ;'Ts]/L ;]jfÚdf ;aeGbf 7"nf pknlAwx? eP eg] s'kf]if0fdf ;'wf/, ;/;kmfO{ / ksfpg–plrt OGwgdflysf] kx'“rdf ;fdfGo nfe xfl;n eof] . ckof{Kt pkef]usf] df/df k/]sf hg;+Vofsf] klg ax'cfoflds u/LaL ;"rsx? sd eP, t/ klg pgLx?n] ;du| hg;+Vofsf] bf“hf]df lgs} sd ultdf dfq} o;nfO{ 36fpg

qmozlQm ;dfgtf -kLkLkL_df cfwfl/t cd]l/sL 8n/ !=@% k|ltJolQm

Page 18: Public Disclosure Authorized g]kfnsf nflu Ps b/b[li6 gLlt ... · i6 gLlt–;f/ ;+If]kviig]kfnsf nflu Ps b"/b[li6. dflysf] t'ngfdf_ . nufgLsf] 9f]sf vf]Ng'sf ;fy} ;j}sf nflu ;]jf kx'“r

10 g]kfnsf nflu Ps b"/b[li6 gLlt–;f/ ;+If]k

;s]sf 5g\ . o;sf cltl/Qm, lbOPsf ;]jfsf] u'0f:t/ Go"g 5 / ljleGg k|sf/sf nfeu|fxLx?aLr of] c;dfg 5 eGg] cg'dfg nufpg ;lsG5 . kl/0ffd:j?k JolQmsf] 5gf]6 ;DefJotf w]/} xb;Dd hftLo–cfly{s–;fdflhs, ef}uf]lnssf ;fy} n}+lus sf/0fx?n] hGd“bfsf] cj:yfd} k"j{lgwf{l/t x'g] x'“bf cj;/x?sf] c;dfgtfsf] cj:yf ljBdfg 5 .

@$= cGTodf, clxn];Dds} Oltxf;df ;aeGbf sd ;+Vofsf 3/kl/jf/ u/LaLsf] /]vfd'lg af“sL 5g\ . tyflk, cem} klg ax';+Vos hg;+Vof of] /]vfsf] l7Ss dflykl§ g} y'lk|Psfn] s'g} em6\sf vKg g;Sg] ljBdfg lgl/xtfsf] cj:yf 68\sf/f] d'2fs} ?kdf /x]sf] 5 . g]kfnL hg;+Vofsf] 7"nf] ax'dt u/LaLsf] ;LdfnfO{ kl/eflift ug]{ clt Go"gtd cfjZostfsf] b'O{{{ u'0ffeGbf sd g} pkef]u u5{g\ . a9L ;dfj]zL / ;xg Ifdtfo'Qm ;dfh lgdf{0ftkm{ cl3 a9\g] eGg'sf] cy{ To:tf] cfly{s j[l4sf] dfu{ klxNofpg' xf], h;n] cem};Dd bf?0f ljkGgtfdf af“lr/x]sfx?sf nflu nfesf] clwsLs/0f ug]{ dfq xf]Og, ax';+Vos hgtfnfO{ cfly{s Pjd\ ;fdflhs?kn] pTyfg ug'{ klg xf] . o;/L cufl8 a9\g] qmddf kof{Kt ;xof]u / ;fdflhs ;+/If0f k|bfg ul/g'k5{, h;n] ubf{ kl/jf/x?n] -k'gM_ u/LaLdf cf]n{g] hf]lvd ;fdgf

ug'{ kb}{g / pgLx? eljiosf nufgL ug{ ;Ifd x'gsf nflu k|lts"n em6\sfx?lj?4 k|efjsf/L ;'/If0f ckgfpg ;S5g\ .

@%= ;f/df, yk ;dfj]zLs/0f k|j4{gsf nflu b'|t cfly{s j[l4 / b[9 gLltx?, b'j}sf] cfjZostf k5{ . klxnf], u/LaL Go"gLs/0fsf] sfo{ s[lif pTkfbsTjsf] nfe lbnfpg] ;xfos ;|f]tsf ?kdf lg/Gt/ /lx/xg] 5 . o;y{, cfly{s k|efjsfl/tf / ;fdflhs Gofo b'j} w/ftndf s[lifsf] ljsf; / ljljwLs/0fnfO{ ;3fpg' cfjZos 5 . bf];|f], ;fdflhs gLltx?n] :jf:Yo / lzIffaf6 z'? u/]/ cfwf/e"t cj;/x?nfO{ ;dfgLs/0f ug]{ k|of; ug'{k5{ . Tof] lsgeg], ;rntf / dfgj k"“hLsf] k|ltkmn j[l4sf] ;Defjgf a9f]Q/L x'“bf kl/jf/x?nfO{ eljiosf nflu nufgL ug]{ pTk|]/0ff a9\5 . t];|f], JolQm / kl/jf/x?nfO{ cfly{s em6\sfx? k|efjsf/L 9+un] ;DxfNg ;Sg] aGg lbgsf nflu g]kfnn] ;fdflhs ;'/If0f ;~hfnnfO{ ;anLs[t ug{ ;S5, h;n] nufgL / Jofj;flostf -cfGt|k|]Go'/zLk_nfO{ klg k|j4{g u5{ . ljBdfg sfo{qmdx?nfO{ d"n k|jfxLs/0f u/]/ cyjf ltgnfO{ ;aeGbf a9L cfjZos ePsf hgtftkm{ cem /fd|/L nlIft u/]/ o:tf] ;anLs/0fsf] sfo{ Go"g nfutdf g} ug{ ;lsG5 .

Page 19: Public Disclosure Authorized g]kfnsf nflu Ps b/b[li6 gLlt ... · i6 gLlt–;f/ ;+If]kviig]kfnsf nflu Ps b"/b[li6. dflysf] t'ngfdf_ . nufgLsf] 9f]sf vf]Ng'sf ;fy} ;j}sf nflu ;]jf kx'“r

11 g]kfnsf nflu Ps b"/b[li6 gLlt–;f/ ;+If]k

…y|L cfO{Úsf] kl/ro

@^= g]kfnsf nflu k|:tfljt ljsf;sf] b"/b[li6sf :tDex?nfO{ …y|L cfO{Ú cyjf …nk";Úsf ?kdf ;f/ lvRg ;lsG5 M OGe]i6d]06 -nufgL_, OGk|mfi6«Sr/ -k"jf{wf/_ / OGSn'hg -;dfj]lztf_ . …y|L cfO{Ún] ultjfg\ / ;kmn cfly{s j[l4sf] bL3{sfnLg jftfj/0fsf] hunfO{ ;d]6\5 . cyjf, csf]{ zAbdf o;n] bL3{sfnsf] k"0f{ lj:tfl/t dfu{lrqeGbf klg cNksfndf ;Daf]wg ug'{kg]{ cfjZos gLltut r'gf}tLx?sf] Ps ;d"x -;]6_nfO{ ;d]6]sf] 5 . cfbz{ ck]Iffdf, oL …y|L cfO{Ún] k|:tfljt u/]sf cfwf/e"t kIfx?nfO{ 7Ls 7fp“df NofOof] eg] g]kfnsf] cfly{s j[l4sf] ;Dk"0f{ ;DefJotf phfu/ x'g z'? x'g]5 . -!_ ahf/sf zlQmx? / gLlt lgdf{tfx?nfO{ ;+o'Qm?kdf ;|F]tx?sf] k|efjsf/L ljlgof]hg ug]{ cj;/ lbnfP/ -pbfx/0fsf nflu k"jf{wf/sf nflu ;fj{hlgs / lghL nufgLdfkm{t_ /, -@_ ultjfg\ If]qx?sf nflu k|ult ug{ / ;dfg cj;/x? l;h{gf ug{ cTofjZos kg]{ ;fj{hlgs Pjd\ lghL ;]jfx?, k"jf{wf/ Pjd\ a[xt\ cfly{s jftfj/0f k|bfg u/]/ o:tf] ;DefJotf phfu/ ug{ ;lsG5 .

@&= nufgL / k"jf{wf/ cljefHo ?kn] Pscsf{df ;DalGwt 5g\ . o:tf] ;DaGw cy{tGqsf nflu hlt u'0fsf/L xf], Tolt g} clgi6sf/L klg aGg ;S5 . Psftkm{ g]kfnsf] clxn]sf] oyfy{ h:t}, k"jf{wf/sf] cefj cfGtl/s / j}b]lzs b'j} k|sf/sf lghL nufgLsf nflu cpTk|]/s jf -afws_sf ?kdf sfd ug{ ;S5 . t/, 7"nf] nfutsf, cfjZos t/ dx“uf k"jf{wf/ cfof]hgfx?sf nflu cfly{s ;|f]t h'6fpg lghL nufgL ckl/xfo{ 5 . csf]{tkm{, ha k"jf{wf/df ePsf] nufgLn] k|ltkmn lbg yfN5,

clgi6sf] rqm -lel;o; ;fOsn_ u'0ffTds rqm -er'{c; ;fOsn_df ?kfGtl/t x'g;S5 . o;n] Joj;fo÷Jofkf/sf] jftfj/0fnfO{ cfsif{s agfpg of]ubfg ug]{ lglZrt k|foM 5, h;n] ubf{ ;a} If]qdf ;du| nufgL a9\g / cfly{s j[l4 em\jf§} z'? x'g ;S5 . csf]{ zAbdf, clgi6 rqmnfO{ tf]8\g' / pmhf{ Pjd\ oftfoft k"jf{wf/x?sf] lgdf{0f Pjd\ ;'wf/ ug'{ k|d'v r'gf}tL /x]sf] 5 . o; sfo{sf nflu bftfx?sf] sf]if, C0f / pTk|]/s lghL nufgLdfkm{t /0fgLlts 9+un] pNn]Vo dfqfdf ;an agfOPsf] / p2]Zos]lGb|t ;fj{hlgs nufgL ;dflji6 x'g'k5{ .

@*= ;dfj]zL gLltx? cfjZos 5g\, lsgeg] pRr cfly{s j[l4af6 k|fKt x'g] nfe km/s cfo ePsf cyjf km/skm/s ef}uf]lns If]qsf hgtfdfem ;dfg ?kn] ljtl/t x'G5 g} eGg] 5}g . /, lsg klg eg] ;dfgLs[t ul/Psf cj;/x?n] kl/jf/x?nfO{ nufgL ug]{ pTk|]/0ff klg lbG5g\ . ;fem]bf/Lk"0f{

nufgL

;dfj]lztf

k"jf{wf/

a9L ;dfj]zL ;dfhn] åGåsf] hf]lvdnfO{ 36fp“5 / nufgLsf] jftfj/0fnfO{ ;an agfp“5

u'0ffTds rqmsf] ;DefJotf, nufgL / k"jf{wf/aLrdf ljBdfg x'G5

lrq ( M cfly{s j[l4sf nflu …y|L cfO{Ú

Page 20: Public Disclosure Authorized g]kfnsf nflu Ps b/b[li6 gLlt ... · i6 gLlt–;f/ ;+If]kviig]kfnsf nflu Ps b"/b[li6. dflysf] t'ngfdf_ . nufgLsf] 9f]sf vf]Ng'sf ;fy} ;j}sf nflu ;]jf kx'“r

12 g]kfnsf nflu Ps b"/b[li6 gLlt–;f/ ;+If]k

;DkGgtf clej[l4 ug{sf nflu cfly{s j[l4sf] df]8]nnfO{ ;dffj]zLs/0ftkm{ ;dfof]lht ul/g'k5{ . o;f] ubf{, ;dfj]zLs/0fnfO{ clwsLs/0f ug{sf nflu g]kfnsf] cfly{s / ;fdflhssf ;fy} e"uf]nsf ;d]t ;fGble{s kIfx?nfO{ Wofg lbOg'k5{ . tLgj6f d'Vo /0fgLlts / kl/k"/s If]qx? cufl8 cfp“5g\ . klxnf], rf/ hgfdWo] tLg hgf, / To;df klg cTolws dfqfdf u/La Pjd\ ;LdfGtLs[t ;d"xx? kg]{, g]kfnL s[lifdf sfd ug]{ x'gfn] o; If]qdf x'g] pTkfbsTj j[l4 / ljljwLs/0faf6 k|fKt x'g] nfedfly hg;+Vofsf] 7"nf] lx:;fn] tTsfn / k|ToIf :jfldTj kfp“5, k'glj{t/0fdf lge{/ ug{ yk cfjZostf kb}{g . bf];|f], a9L ;dfj]zL ;dfh ta dfq aGg ;S5, ha cfwf/e"t cj;/x?nfO{ cfo:t/, ;d'bfo÷kl/ro jf e"uf]n gx]/Lsg ;dfgLs[t ul/G5 -;dfg ljt/0f ul/G5_ . g]kfnn] cfosf] c;dfgtf 36fpg /fd|f] ;kmntf kfPsf] 5, t/

ax'bf cj;/x? k|f/ldEs cj:yfn] g} k"j{lgwf{l/t x'g] cj:yf ljBdfg 5 . ;fy}, ax';+Vos hgtf u/LaLsf] /]vfeGbf dfly, t/ o;sf] glhs} y'lk|Psf] oyfy{sf] cy{ xf]– oL kl/jf/x?sf] hf]lvd pRr 5, h;n] ubf{ eljiosf nflu nufgL ug]{ pgLx?sf] IfdtfnfO{ w"ldn agfPsf] 5 . ;dfj]zLs/0fsf csf]{ k+lQmsf r'gf}tLx? ;fdgf ug{sf nflu ;a}nfO{ cj;/sf] ;dfg w/ftn lbnfpg' / ;a} g]kfnLnfO{ ef]lnsf] >dahf/df plrt df}sf ;'lglZrt xf];\ eGgsf nflu nlIft :jf:Yo / lzIffsf k|of;x? cfjZos k5{ . ;'b[9 ;fdflhs ;'/If0fn] sdhf]/x?sf] /Iff u/f];\ / of] ;'/If0faf6 sf]xL g]kfnL g5'6f];\ eGg] ;'lglZrt ug{ ;Sg'k5{ . t];|f], g]kfn ;+3Lo ;+/rgf sfof{Gjog ug]{ ;+3f/}df 5 . t/, klg ljs]Gb|Ls/0fnfO{ c;dfgtf a9fpg] sdhf]/L aGg glbg o;nfO{ …;dfj]zLs/0fsf nflu Jojl:yt ul/g'Ú cfjZos 5 .

Page 21: Public Disclosure Authorized g]kfnsf nflu Ps b/b[li6 gLlt ... · i6 gLlt–;f/ ;+If]kviig]kfnsf nflu Ps b"/b[li6. dflysf] t'ngfdf_ . nufgLsf] 9f]sf vf]Ng'sf ;fy} ;j}sf nflu ;]jf kx'“r

13 g]kfnsf nflu Ps b"/b[li6 gLlt–;f/ ;+If]k

@(= cfly{s ljsf;nfO{ lbuf]?kn] b'|t agfpg] dxTjk"0f{ kIf nufgL g} xf] . rLgh:tf cfly{s j[l4df /fd|f] sfo{k|bz{gL u/]sf d'n'sn] nufgLk|]l/t cfly{s j[l4sf] u'0fjQfnfO{ k|i6} b]vfPsf 5g\ . -lrq !) x]g'{xf];\_ . k"jf{wf/ ljsf;, k|ljlwsf] :t/f]Gglt, 1fgsf] lj:tf/ / ;+/rgfut kl/jt{gdf nufgLsf] lg0ff{os e"ldsfsf] dxTj o;n] bzf{p“5 .

#)= g]kfnsf] nufgL b/ p;sf IF]qLo ;dsIfLx?sf] t'ngfdf ;fk]IftM Go"g /x]sf] 5, h;n] nufgLsf] cfk"lt{ kIfsf t]x]/f] r'gf}tLnfO{ k|ltljlDat u5{ . ljutsf] bzsdf s'n l:y/ k"“hL lgdf{0f s'ufpsf] !( bzdnj ( k|ltzt / @@ bzdnj @ k|ltztaLrsf] ;f“3'/f] 3]/fleq /x\of] . cem}, j}b]lzs k|ToIf nufgL k|ltjif{ sl/a !) s/f]8 cd]l/sL 8n/sf] xf/fxf/Ldf /x\of], h'g c+s g]kfnsf] cy{tGq / hg;+Vofsf] cfsf/sf cfwf/df cf};teGbf lgs} sd xf] .

#!= ;a}eGbf klxnf] s'/f, lghL nufgLsf nflu pNn]vgLo Jojwfgx? ljBdfg 5g\ . ;aeGbf kl5Nnf] Joj;fo ;j]{If0f -ljZj a}+s, @)!#_df g]kfnL Joj;fox?n] ;aeGbf 7"nf] Jojwfgsf ?kdf klxrfg u/]sf] /fhgLlts cl:y/tf oyfy{ xf] . t/, o;sf cltl/Qm e/kbf]{ ljB't cfk"lt{sf] cefj, ljQLo ;]jfdf cS;/ ;Lldt kx'“rsf ;fy} >ldssf d'2fsf sf/0f nfut a9\g] kl/l:ylt nufgLsf nflu cg'Tk|]/s x'g] cj:yf lg/Gt/ 5 . /fhgLlts cl:y/tfsf] lrGtf jf pmhf{hGo cK7\of/fx?nfO{ tTsfn ;Daf]wg ug{ cNksfndf s]xL ug{ ;lsg] ;Defjgf sd} 5 . tyflk, ;'wf/sf dfWodaf6 ;lhn} l6Kg ;lsg] kmn klg 5g\, h;n] lghL If]qsf] nufgL cfslif{t ug]{ ;/sf/L k|lta4tfnfO{ ;+s]t ug{ ;S5 . h:t}, kl/jf/ / Joj;fox?sf nflu ljQLo ;]jf kx'“rdf ;'wf/ug'{, lgofdssf] af]em sd ug'{ / >dahf/nfO{ yk nrsk"0f{ x'g lbg', cflb . ;fydf, j}b]lzs k|ToIf nufgL / lgof{t pGd'v ultljlwx?nfO{ klg ;sf/fTds pT;fx lbg ;lsG5 . yk lj:t[t ljZn]if0f / 7f]; gLltut ;'efjx? …yk k|efjsf/L nufgL jftfj/0ftkm{Ú zLif{ssf] gLlt–;f/df ;dfj]z ul/Psf] 5 .

#@= bf];|f], ;fdfGotM j[xt\ cfly{s -Dofqmf]Osf]gf]lds_ jftfj/0fdf ePsf sdhf]/Lx? / vf;u/L ljQLo

nufgL

lrq !) M lrlgof cg'ej M nufgLk|]l/t cfly{s j[l4

;f]tM ljZj a}+s, ljZj ljsf; ;"rsf+s

If]qsf] :yfloTjsf hf]lvdx?n] yk c8\rgx? k}bf u/]sf 5g\ . d'Vou/L nuftf/ al9/xsf] v/fa -lglZqmo_ shf{sf sf/0f / clxn] ePsf] k"“hL kof{Kttf cg'kftdf klg ;Defljt d'b|fl:kmltn] kfg]{ k|efjn] g]kfnsf] a}lsª If]qsf] zf]wg Ifdtf -;f]Ne]G;L_ hf]lvd pNn]Vo dfqfdf a9fPsf] 5 . ;/sf/;“u ljQLo If]qsf sdhf]/Lx?sf] klxrfg / ltgnfO{ ;Djf]wg ug]{ kof{Kt lgofds /

60

50

40

30

20

10

0

1997

1998

1999

2000

2001

2002

2003

2004

2005

2006

2007

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2009

2010

2011

2012

3E+11

2.5+11

2E+11

1.5E+11

1E+11

.5E+11

0

s'ufp j[l4 -jflif{s k|ltzt_

s'n k"“hL lgdf{0f -s'ufpsf] k|ltzt_

s'n art -s'ufpsf] k|ltzt_

j}b]lzs k|ToIf nufgL, v'b cfk|jfx

-zf]wgfGt/, jt{dfg cd]l/sL 8n/df_ bfof“ tk{m

z]o/ nufgL, v'b cfk|jfx -zf]wgfGt/, jt{dfg

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Page 22: Public Disclosure Authorized g]kfnsf nflu Ps b/b[li6 gLlt ... · i6 gLlt–;f/ ;+If]kviig]kfnsf nflu Ps b"/b[li6. dflysf] t'ngfdf_ . nufgLsf] 9f]sf vf]Ng'sf ;fy} ;j}sf nflu ;]jf kx'“r

14 g]kfnsf nflu Ps b"/b[li6 gLlt–;f/ ;+If]k

;'k/Lj]IfsLo cf}hf/x? cyjf rflxPhlt ;~rfng Ifdtf 5}g . g t ;/sf/n] ;DefJo ljQLo ;+s6sf] 7"nf] cfly{s nfut nfO{ k|efjsf/L?kn] Jojl:yt / ;Lldt ug{ g} ;Sg]5 . o;y{, Pp6f dxTjk"0f{ gLltut k|fyldstf ;+s6 Joj:yfkg pks/0fx? -6'nls6_ :yfkgf ug'{ x'g'k5{, h;df ;+s6sf a]nf a}+sx?;“u sfo{ ug{;d:of ;dfwfgsf] Pp6f r':t vfsfb]lv ;'b[9 lgIf]k aLdf of]hgfx?;Dd k5{g\ .

##= hxf“;Dd ljQLo ;]jfsf] cfk"lt{df kx'“rsf] k|Zg 5, To;df ljljw vfnsf c8\rgx?sf] pkl:ylt 5 . klxnf], ;g\ @)!! sf] ljQLo If]qsf] t/ntf ;+s6kl5 nlDaPsf] hf]lvd glng] /0fgLltsf] ;Defljt kl/0ffd:j?k / nufgLsf cj;/x?sf] slyt cefjsf sf/0f a}+sx?s} kxndf ePsf] …:j]lR5sÚ C0f ;+s'rg -h:t}, cfk"lt{eGbf dfu lgs} sd /x]sf] cfj:yfdf klg ;fk]IftM C0fdf pRr Jofhb/ sfod /fVg] lg0f{o_n] ubf{ ljQLo k|0ffnLdf clws t/ntfsf] cj:yf l;h{gf u/]sf] 5 . bf];|f], g]kfnsf] a}+lsª If]qsf] ahf/ ;+/rgf yk ;d:ofsf] sf/s ePsf] 5 . kl/b[Zosf] Pp6f r/ddf, /fHosf] :jldTjsf rf/j6f 7"nf a}+sx?sf] k'gM;+r/gf ul/g' cfjZos 5 . d"ntM pgLx?sf] bfloTjsf k5fl8 /x]sf] /fHosf] ck|ToIf Uof/]06LnfO{, h;n] lghL k|lt:kwL{x?sf] t'ngfdf pgLx?nfO{ c:jR5 nfe lbO/x]sf] 5, x6fpg o:tf] k'gM;+/rgf cfjZos 5 . csf]{tk{m, ahf/ cfk}+m ;fgf C0f lbg] / lgIf]k lng] ;+:yfx? -…uÚ / …3Ú ju{sf a}+s / lgodg gul/Psf ;xsf/Lx?_df vl08t x'g] qmd a9bf] ?kdf b]lvPsf] 5 . 5'§} ;fgf cfsf/sf -ljQLo_ Joj;fo ;kmn x'g] s'/fdf blj{nf] r'gf}tL /xG5 . lsgls, Joj;fosf] -sd_ k}mnfj6sf sf/0f nfut a9L x'G5, sd ;'/If0fdf hf]lvd lng] k|j[lQ a9\5 cyjf nufgL ljljwLs/0f x'g ;Q}mg . …sÚ ju{sf a}+sx?sf] ;xsf/Lx?df nufgL ;fk]IftM ;fgf] -# b]lv % k|ltzt_ 5, t/ klg a}sx?sf] k"“hLsf] cfwf/ ;Lldt÷yf]/} ePsf] tYox?sf] k|sfzdf of] klg Pp6f d'2f rflx“ xf] . cGttM n3'ljQ ;+:yfx? C0f k|ltj]bg agfpg÷cfbfgk|bfg ug{ ldx]gt;fy ;+nUg x'“b}gg\ / tNnf] txsf C0fu|fxLx? w]/}j6f ;+:yfaf6 C0f ;'ljwfsf] kmfObf lnG5g\ . C0fsf] ef/ pgLx?n] y]Ug ;Sg]eGbf 7"nf] x'G5 / o;n] …n3'ljQLo :yfloTjÚdfly 7"nf] hf]lvd k}b ug{;S5 . /, Tof] uDeL/ gsf/fTds

;fdflhs c;/sf] sf/s aGg ;S5 . o; ;Gbe{df, / dfly elgP e}m+ ;+s6 Joj:yfkg Ifdtf cefjsf ;Gbe{df klg, ;a} ;DjlGwt pkIf]qx?sf] lgodg / ;'k/Lj]If0f klg 7f]; sfg"gL cfwf/df cl8Psf] x'g'k5{ / k|i6 sfof{b]z ePsf ;Ifd ;+:yfx?dfk{mt\ sfof{Gjog ul/g'k5{ . /, vf; If]qsf] k|j4{g / ;'k/Lj]If0f aLrsf] -…3Ú ju{sf a}+sx?df h:t}_ :jfy{ aflemg' x'“b}g . oL ljifox? …ljQLo If]q :yfloTj ;'b[9Ls/0fÚ zLif{ssf] gLlt–;f/df a9L lj:t[t?kdf ;dfj]z ul/Psf] 5 .

#$= t];|f], k|efjsf/L / nIo s]lGb|t ;fj{hlgs nufgLsf] 9f]sf vf]Ng' ;fj{hlgs If]qsf nflu d'Vo r'gf}tL /xg] 5 . lghL If]qsf] nufgLsf] cj:yf h:t}, ;fj{hlgs If]qn] klg /sd pknAw gePsf]n] nufgL ug{ c;lhnf]df k/]]sf]h:tf] b]lv+b}g . /fHon] oyfy{df lsg cfk\mgf] Ifdtfsf] t'ngfdf Go"g nufgL ul//x]sf] 5 < clxn] ;dfwfg vf]Hg' kg]{ d'Vo k|Zg oxL xf] . o:fsf] pQ/ g]kfnsf] cf}krfl/s ;fj{hlgs ljQ Joj:yfkg k|0ffnL / k|lqmofx?leq} 5 . oL k|0ffnL / k|lqmofx? P]g / lgodx?dfk{mt\ ;'kl/eflift 5g\, t/ /0fgLlts / nlIft ah]6 lgdf{0f, sfof{Gjog / lgu/fgLdf uDeL/ sdLx? k|blz{t ePsf 5g\ . o:tf sdLx?sf] kl/0ffd:j?k ah]6sf] k|efjsf/L pkof]u lgDg:t/df 5, vr{x? Ps}vfn] ;fgf sfdsf nflu y'lk|g] u/]sf 5g -vr{sf] u'0f:t/sf] lrGtf klg ;fy} cfp“5_ / pRr lhDd]j/L hf]lvd -lhDd]jf/ txaf6 x]nr]q\mØOk"0f{ 9+un] sfd x'g] cj:yf_ k}bfx'G5 . cToGt h?/L gLltut x:tIf]ksf] If]qsf ?kdf ;fj{hlgs ljQ Joj:yfkgsf] ;Dk"0f{ k}mnfj6 g} /x]sf]5 — ah]6 lgdf{0f / tof/LnfO{ ;an agfpg] cfjZostfb]lv kf/blz{tfdf ;'wf/ / lgu/fgL x'“b}, k|efjsf/L / ;'zf;go'Qm 9+un] k“"hLut vr{ a9fpg];Ddsf ljifo o;df k5{g\ . yk s'/f, clxn] hf/L /x]sf ;'wf/x?nfO{ ;fj{hlgs ljQ Joj:yfkgsf] bL3{sfnLg /0fgLltcg'?k o;}sf] cË agfpg' k5{ / To;} cg';f/sf cg'qmdx? tof/ ug'{k5{ . o;n] ubf{, ;'wf/s} qmddf cfjZos ;+:yfut d]?b08 l;h{gf ug{ / sfof{Gjog Ifdtf a9fP/ cGttf]uTjf ;'wf/sf nfex?nfO{ bLuf] agfpg d2t u5{ . o;;“u ;DjlGwt k[i7e"ld / gLltut ;'emfjx? …yk / c;n vr{sf nflu ;fj{hlgs ljQ Joj:yfkg k|0ffnLsf] lgdf{0fÚ zLif{ssf] gLlt–;f/df kfpg ;lsg]5 .

Page 23: Public Disclosure Authorized g]kfnsf nflu Ps b/b[li6 gLlt ... · i6 gLlt–;f/ ;+If]kviig]kfnsf nflu Ps b"/b[li6. dflysf] t'ngfdf_ . nufgLsf] 9f]sf vf]Ng'sf ;fy} ;j}sf nflu ;]jf kx'“r

15 g]kfnsf nflu Ps b"/b[li6 gLlt–;f/ ;+If]k

#%= g]kfnsf] ljsf; / cfly{s j[l4sf] b"/b[li6df k"jf{wf/n] s]Gb|Lo e"ldsf v]N5 . lghL nufgLnfO{ pTk|]l/t ug{ / s'g} klg ;DefJo ;ld>0fsf] bla{nf] cflys{ j[l4nfO{ ;3fpgsf nflu of] k"jf{wf/ r'gf}tLsf] r'/f]df dfq 5}g, clkt' of] cfly{s ljsf;af6 ;dfj]zLtf k|j4{g Pjd\ ljsf;n] u/La / ;LdfGtLs[tsf] hLjgdf kfg]{ k|ToIf k|efjdfk{mt\ ;DkGgtfsf] ;fe]mbf/L ug]{ k'n lgdf{0fsf] Pp6f cfwf/:tDe klg xf] .

#^= k"jf{wf/df x'g] nufgL / cfly{s j[l4aLrsf k|ToIf / ck|ToIf cGt/;DjGwx? 1ft g} 5g\ . b'u{d -;Dks{ laxLg t/ cfjfbL ePsf_ If]qx?;Dd ;8s / k'nx?dfk{mt\ kx'“r k'¥ofpg] xf] eg] tL If]qdf lghL nufgL ;Dej x'G5 . To:t}u/L, pBdL Joj;foLx?nfO{ ljB't / 6]lnkmf]gh:tf ;]jfdf kx'“r lbg] p2]Zon] k"jf{wf/ ;~hfnsf dxTjk"0f{ If]qx?df ul/g] ;fj{hlgs nufgLn] To;} cg'kftdf lghL nufgL ;an agfp“5 . ce}m, k"jf{wf/df x'g] nufgL k|efjsfl/tfn] s'ufp lj:tf/sf ck|ToIf tTjx?nfO{ k|f]T;flxt u5{, h;n] lghL k"“hLsf] bLuf]kg, >dsf] pTkfbsTj, cfly{s lj:tf/, / :jf:Yo Pjd\ lzIfsf dfWodaf6 dfgj k"“hL j[l4 u/fp“5 . o:tf] nufgLn] lghL k"“hLsf] ;dfof]hg nfutnfO{ klg ;Gt'ngdf Nofp“5 . of] jftfj/0fn] Joj;fodf cfpg] c8\rgx?sf nflu ;'/If0f ug'{kg]{ cfjZostfnfO{ 36fP/ k'gMnufgLsf nflu a9L dfqfsf] lghL k"“hL 5f]8\g ;S5 / To;n] ;sf/fTds k[i7kf]if0f ;lxtsf] cfly{s rqm lgdf{0f u5{ . cGttM k"jf{wf/n] pTkfbg k|lqmofdf dWojtL{ ;fwgsf ?kdf sfo{ u5{ / kl/0fdtM s'n cfDbfgL, pTkfbsTj / /f]huf/Lsf] :t/nfO{ k|efljt u5{ .

#&= t/, g]kfnn] cTofjZosLo k"jf{wf/ cfof]hgfx?sf nflu nufgLsf] dfqdf pNn]Vo sdL a]xf]l//x]sf] 5 . ljZj a}+ssf] cg'dfgdf g]kfnn] ;g\ @)@) ;Dd k|To]s jif{ s'ufpsf] * b]lv !@ k|ltzt -;g\ @)!) nfO{ cfwf/ dfGbf_ k"jf{wf/sf ;a} If]qdf nufgL ug'{ cfjZos 5 . cfjZos nufgLn] kl/df0f / u'0f:t/ b'j} kIfsf sdLnfO{ ;Djf]wg ug'{ h?/L 5, vf;u/L 7"nf / dxTjsf b'O{{j6f k"jf{wf/sf If]q—oftfoft /

pmhf{df . nufgL–k"jf{wf/sf] clgi6 rqm cNksfndf tf]8\g d'l:sn x'g] tYonfO{ b[li6ut u/L pknAw b'n{e ;|f]tx?nfO{ clt k|efjsf/L 9+un] pkof]u ug'{sf] dxTjnfO{ hf]8 lbg}k5{ . To;}n], ;DklQsf] k'g?Tyfg / ;Dxf/df yk Wofg lbg' klxnf] dxTjk"0f{ sbddWo] k5{ . o;sf] cy{ ljlu|g' cl3 g} Wofg k'¥ofpg] dfgl;stf / Joj:yfkg k|0ffnL cg'?ksf] …lgdf{0f–;Dxf/Ú cjwf/0ff, jt{dfg cEof;df /x]sf] dx+uf] ljsNk …lgdf{0f–a]jf:tf–k'gMlgdf{0fÚ eGbf, w]/} lxts/ x'G5 . o;sf ;fy}, dfly pNn]v e};s]sf nufgL jftfj/0fsf] lgodgdf km/flsnf, cTofjZosLo ;'wf/sf cltl/Qm ;fj{hlgs nufgLn] o;sf] /0fgLlts nIonfO{ a9fpg' k5{ . o:tf] a9f]Q/L ;fdGotM ;j} kIfdf -dfly ;fj{hlgs vr{ Joj:yfkgfdf pNn]v ePe}+m_ cfjZos t 5“b}5, k"jf{wf/sf ;Gbe{df vf; h?/L 5 . Ps–Ps g]kfnL ?k}of“sf] vr{nfO{ c;/bf/ agfpgsf nflu k"jf{wf/ nufgL of]hgfx?sf] k|i6 k|fyldstf x'g'k5{ / To;} cg'?k lznzLnfj4 ul/g' k5{ . ltgnfO{ cfly{s / laQLo ;DefJotf ljZn]if0fsf] ljifo agfOg' k5{ / k|ljlws?kn] ;Ifd ;/sf/L lgsfo, of] dfldnfdf /fli6«o of]hgf cfof]udfk{mt\, sfof{Gjog ul/g' k5{ .

#*= krxQ/ k|ltzt g]kfnLsf] ljB't cfk"lt{df kx'“r k\'u]sf] 5 tfklg u'0f:t/ / ljB't cfk"lt{÷pkef]u b'j}sf] ;du| :t/ cToGt} Go"g 5 . hnljB'tsf] 7"nf] ;DefJotf x'“bfx'“b} klg g]kfnsf] pmhf{ If]qdf rL/sfnb]lv p:t} /x]sf] Go"g nufgLsf sf/0f cfk"lt{df uDeL/ ck'usf] cj:yf NofPsf] 5 . g]kfnsf] *$ xhf/ d]ufjf6 hnljB't pTkfbgsf]

tflnsf @M k|To]s jif{sf nflu nufgLsf] If]qut cfjZostf, @)!!–@)@)If]q s'ufpsf] cf};t c+z, k|ltztdfljB't 3=3 – 4=5

oftfoft 2=3 – 3=5

vfg]kfgL / ;/;kmfO{ 1=1 – 1=6

l;+rfO{ 1=0 – 1=5

b"/;~rf/ 0=3 – 0=4

kmf]xf]/d}nf 0=2 – 0=3

hDdf 8.2 - 11.8

-;|f]t M ljZj a}+s, @)!$_

k"jf{wf/

Page 24: Public Disclosure Authorized g]kfnsf nflu Ps b/b[li6 gLlt ... · i6 gLlt–;f/ ;+If]kviig]kfnsf nflu Ps b"/b[li6. dflysf] t'ngfdf_ . nufgLsf] 9f]sf vf]Ng'sf ;fy} ;j}sf nflu ;]jf kx'“r

16 g]kfnsf nflu Ps b"/b[li6 gLlt–;f/ ;+If]k

;}4flGts ;DefJotf 5 / o;dWo] $# xhf/ d]ufjf6 cfly{s?kn] lgsfNg ;Dej 5 . h'nfO{ @)!# ;Dd hl8t Ifdtf & ;o $^ d]ufjf6 5 . To;dWo] & ;o $ d]ufjf6 /fli6«o k|zf/0fdf hf]l8Psf] 5, hjls pRr vktsf a]nf of] dfu ! xhf/ (% d]ufjf6 k'U5 . o;dfly, clwstd hnljB't ;+oGq hnk|jfxdf cfwfl/t ePsfn] ;'Vvf ofddf jf:tljs pTkfbg Ifdtf cem Go"g x'G5 -gf]e]Da/ @)!@ df $ ;o &@ d]ufjf6 lyof]_ . hjls, ljB't k|0ffnLdf hl8t dfu pRr 5 . -gf]e]Da/ @)!@ df of] ! xhf/ (% d]ufjf6 lyof]_ . ;g\ @)!@ df dfu / cfk"lt{sf] km/s ! xhf/ @ ;o @* luufjf6 cfj/ /]s8{ ul/Psf] lyof], h;sf] …;dfwfgÚ nf]8z]l8ª u/]/ lgsflnof] . g]kfn :jtGq pmhf{ pTkfbs ;+3sf cg';f/, nf]8z]l8ªsf sf/0f u'dfPsf] cfonfO{ lx;fa ubf{ d'n'sn] jflif{s em08} Ps ca{ cd]l/sL 8n/ a/fa/sf] d"No r'sfO/x]sf] 5 .

#(= ljB't ;]jf k|bfossf] bogLo cfly{s sfo{k|bz{gLn] lghL nufgLstf{x?nfO{ xtf]T;fxL ul//x]sf] 5 . o;n] ubf{ dfu k"/f ug]{ u/L ljB't pTkfbg ug{ cfjZos nufgL /f]lsPsf] 5 . g]kfn ljB't k|flws/0f -g]ljk|f_n] p7fpg] dxz'n ;]jfsf] nfuteGbf @% k|ltzt sd ePsf]n] ;+:yfn] ef/L cfly{s 3f6f a]xf]l//x]sf] 5 . cfk"lt{ k|0ffnLsf] r'xfj6sf sf/0f -clxn] sl/a @^ bznj % k|ltzt 5_ klg nfut a9\5 . ;]jfsf] u'0f:t/ sdhf]/ ePsfn] dxz'n j[l4sf] k|lt/f]w ul/xfNg cfd hgtfnfO{ ank'Ug] u/]sf]5 . o;sf ;fy}, pmhf{ If]qsf gLltx? ckof{Kt ePsf]n] klg nufgL / lgdf{0f /f]lsg] u/]sf] 5 . ljB't pTkfbg rflx“ k|lt:kwL{ ePsf] 5 -em08} #$ k|ltzt ljB't :jtGq pmhf{ pTkfbsx?af6 cfp“5_ . t/ of] ;a} ljB'tsf] v/Lb stf{ eg] cGttM g]ljk|f Pp6f dfq} 5 . g]ljk|fsf]

;Defljt e'QmfgL cIfdtfsf ;fy} d'n'sdf ljBdfg ck|Tofl;t /fhgLlts 36gf x'g;Sg] vt/f cyjf ljb]zL ljlgdo b/ jf ;~rfng hf]lvd h:tf hf]lvdx? 7"nf hnljB't cfof]hgfsf nflu pNn]v dfqfsf] lghL nufgL cfpgdf d'Vo afws ag]sf 5g\ . To;}n], ;]jfsf] nfut 36fpg' / dxz'naf6 nfut wfGg ;Sg] cj:yf agfpg' g]ljk|f / pmhf{ If]qsf] ljQLo bLuf]kgf xfl;n ug]{tkm{ klxnf] sbd x'g]5 . ;fdflhs k|efjx? ;fdgf ug{ / dxz'n ;dfof]hg x'g lbgsf nflu ljB't dxz'n ;'wf/ sfo{nfO{ txut cjwf/0ffdf ljrf/ ul/g' k5{ . o:tf] ;dfof]hgsf nflu d'b|l:kmltsf] ;"rs, ljb]zL ljlgdo b/, dxz'nsf leGg b/x?sf] k'gM;+/rgfsf ;fy} u/LanfO{ kg]{ c;/ ;Djf]wg ug{ ljleGg pkef]Qmf ju{sfnflu km/s b/ sfod u/]/ u/LanfO{ lbOg] dxz'n cg'bfg -qm; ;lA;8L_ af/] Ps;fy ljrf/ ul/g'k5{ . ;dfgfGt/ ?kdf, g]ljk|sf nflu Pp6f ;+:yfut ljsf; of]hgf -clxn] g} tof/ /x]sf] ljQLo k'gM;+/rgf of]gfdf cfwfl/t_n] k|ljlws / ljQLo ;'wf/ / 3f6f Go"gLs/0f u'?of]hgfsf] sfof{GjognfO{ lj:t[t?kdf k|:t't ug'{k5{ . yk s'/f, dfly pNn]v ul/Psf hf]]lvdx?sf] Go"gls/0fsf nflu ;/sf/L ;'/If0f lbg] pko'Qm gLltx?sf] cefj lghL nufgLsf] csf]{ Pp6f k|d'v c8\rgsf ?kdf /x]sf] 5 . g]ljk|fn] ;dod} e'QmfgL lbg g;Sg]h:tf k|d'v hf]lvdx? ;/sf/n] grfx]/} klg a]xf]g'{ k5{ . lsgls, g]kfnsf] pmhf{ If]q ;/sf/L ;xof]u lagf g} o:tf hf]lvdx?nfO{ cfGtl/s ?kd} krfpg -;dfwfg ug{_ ;Sg] u/L ljQLo / k|fljlws?kn] r':t eO;s]sf] 5}g . of] kl/l:yltn] klg lghL nufgL ug]{ rfxgfnfO{ sd u5{ / o;nfO{ ;Djf]wg ul/g' cfjZos 5 .

$)= o; cltl/Qm, k|;f/0f Ifdtfsf] cefjn] pmhf{sf] yk pTkfbgsf] cf}lrTonfO{ pNn]Vo ?kn] 36fPsf] 5 . k|;f/0f nfOgdf kg]{ hdLgsf] d'cfjhf ljjfbsf sf/0f k|;f/0f nfOg cfof]hgfx?n] nlDabf] l9nfO v]lk/x]sf 5g\ . cfof]hgf k|efljt ;d'bfo;“usf] ljjfbn] c:jLsfo{ txsf] l9nfO ePsf] 5 . ljZj a}+s nufgLsf] bzjif{b]lv sfof{Gjogdf /x]sf] Pp6f cof]hgf ;fgf] v08, # bzdnj * lsdL, eP/ k|;f/0f nfOg n}hfg] clwsf/ ljjfbsf sf/0f k"/f ug{ ;lsPg . Ps cGt/f{li6«o bftfn] nufgL u/]sf] csf]{ o:t} cfof]hgf o:t} ;dfwfg x'g g;s]sf] ljjfbsf sf/0f k"/f x'g ;s]g / clxn] of]

;|f]tM g]kfn ljB't k|flws/0f

3000

0

-3000_

-6000_

-9000_

-12000_

28=60∞

USD 51.73 bz nfv

FY09

Revenue gap (NRs Million) T&D loss levels (%)

FY10 FY11 FY12**

USD 75.79 bz nfv

USD 66.29 bz nfv

USD 93.08 bz nfvdf

28=91∞ 28=55∞ 25=43∞30=00∞

15=00∞

0=00∞

”15=00∞

”30=00∞

NR

Mill

ion

(5027) (6962) (6089) (8550)

lrq !@ M cfDbfgLsf] vf8n / k|;f/0f–ljt/0f 3f6f

Page 25: Public Disclosure Authorized g]kfnsf nflu Ps b/b[li6 gLlt ... · i6 gLlt–;f/ ;+If]kviig]kfnsf nflu Ps b"/b[li6. dflysf] t'ngfdf_ . nufgLsf] 9f]sf vf]Ng'sf ;fy} ;j}sf nflu ;]jf kx'“r

17 g]kfnsf nflu Ps b"/b[li6 gLlt–;f/ ;+If]k

…c8\lsPsf] ;DklQÚdf kl/0ft ePsf] 5 . ;/sf/L sfg"g / ljlgodx?n] k|;f/0f nfOg cfof]hgfx?sf nflu kof{Kt d'cfjhfsf] cg'dlt lbPsf 5g\ . tyflk g]ljk|fsf] d'cfjhf lbg] k|i6 ;+:yfut gLlt 5}g / k|;f/0f nfOg nu]afkt cS;/ hdLgsf] d"Nosf] bz k|ltzt dfq d'cfjhf lbg] ul/Psf] 5 . o;sf/0f, k|;f/0f nfOg n}hfg] clwsf/ lbP jfktsf] d'cfjhf;DjGwL 5'§} gLltsf] cfjZostf 5 h;n] g]kfnsf] k|rlnt sfg"gcg';f/, k|of]u ug{ jGb]h nfUg] hdLgsf] cjl:ylt / pkof]u x]/]/ Gofof]lrt Ifltk"lt{ k|bfg u/f];\ . o:tf d"n c8\rgx? x6fpg cfjZos 7f]; gLltut sbdx? …g]kfnsf] hnljB't ;DefJotf phfu/0fÚ zLif{ssf] gLlt–;f/df pNn]v ul/Psf] 5 .

$!= cfly{s j[l4n] ult lnof];\ / of] ;dfj]zL klg xf];\ eGgsf nflu g]kfn el/s} ;Dks{ ;~hfn ;'wf/ ug]{ lrGtf ca d'Vo x'g'k5{ . ahf/;Ddsf] kx'“r -h:t}, u|dL0f s[lifdf_, lghL If]qsf ultljlw, ;fdflhs ;]jf, cyjf cfkt\sflng cj:yfdf ;xof]u, ;a} g} oftfoft ;]jfsf] u'0f:t/df lge{/ /xG5g\ . oBlk, g]kfndf oftfoftsf] ;Dks{ ;~hfn agfpg cToGt} c;lhnf] 5 . oftfoft If]qsf w]/}, vf;u/L zx/Ls/0f;“u ;DjlGwt r'gf}tLx? gof“ / ce"tk"j{ 5g\ . t/ klg, ljBdfg k"jf{wf/x?sf] k|efjsf/L dd{t–;Def/ oftfoft ;]jf ;'wf/sf lbzfdf k|d'v r'gf}tLsf ?kdf /x]sf] 5 . gof“ lgdf{0f eGbf dd{t–;Def/ cToGt} nfut–k|efjsf/L x'g] ePsfn] dd{t–;Def/ sfo{ oyfy{df g} sfof{Gjog u/fpg] s'/f ;'lglZrt ug'{ g]kfn ;/sf/sf nflu ;aeGbf dxTjk"0f{ r'gf}tL x'g]5 . clxn] dd{t–;Def/sf nflu lbOg] cg'bfgsf] cg'udg ;+oGq vr{ ug]{ tx;Dd uP/ c8\lsG5, h'g -;+oGq_ dd{t–;Def/df x'g] nufgLn] jf:tjdf g} o;n] rfx]sf] p2]Zo xfl;n ug]{ s'/f ;'lglZrt ug{ ckof{Kt 5 . g]kfnsf] oftfoft k"jf{wf/nfO{ ;'wf/ ug{ cfjZos kg]{ nufgLsf] :t/ lrQa'e\\mbf] agfpg] s'g} cNksfnLg ;dfwfg gePsfn] klg of] nfut–k|efjsf/Ltfn] cem a9L dxTj kfpg] b]lvG5 . g t g]kfn ;/sf/ g t ljsf; ;d'bfon] g} g]kfnsf] ljsf;nfO{ cufl8 a9fpg cfjZos kg]{ ;Dk"0f{ oftfoft k"jf{wf/sf] nufgLdf vr{ ug{ ;S5g\ . /, lghL nufgLnfO{ pTk|]l/t ug]{ ;fj{hlgs

lghL ;fe]mbf/L -kLkLkL_ klg /sd cefjsf] vf8n k'g{sf nflu /fdjf0f x'g ;Sb}g, lsgeg] lghL If]qsf nufgLstf{x?n] cfly{s k|ltkmn cfpg] ePdfq} k"jf{wf/ ljsf;df nufgL u5{g\ . k]ml/ pglx?n] nufgLsf nflu k|of]u ug]{ C0f / z]o/sf] -cfly{s_ cf}hf/ lkmtf{ -Jofh / k|ltkmnsf ;fy_ ug'{kg]{ x'G5 . To;}n], sfof{Gjog cf}hf/sf b[li6df kLkLkLnfO{ d'Vou/L k|efjsfl/tf a9fpg] / hf]lvd af“8\g] ;+oGqsf ?kdf dfq x]l/g' k5{ .

$@= oftfoft If]qn] ;'zf;gsf] r'gf}tL klg ;fdgf ul//x]sf] 5 . x/]s cfly{s jif{sf] clGtd rf}dfl;sdf dfq oftfoft ah]6sf] ;Q/L k|ltzt vr{ x'g] oyfy{n] s] b]vfp“5 eg] ah]6 5'§Øfpg], of]hgf agfpg], v/Lb ug]{ / 7]Ssf Joj:yfkgnufot ;Dk"0f{ oftfoft If]qel/ ckgfOg] k|lqmofx? c? ;'rf? x'g' cfjZos 5 . :yfgLo ;/sf/L lgsfosf] Ifdtf / ltgLx?n] oftfoft If]qdf ug]{ nufgLsf ultljlwdf clxn] nfu" hjfkmb]lxtf ;+/rgfdf klg pNn]v ;'wf/sf] cfjZostf 5 . /fli6«o txsf ;+:yfx?sf] e"ldsf / sfo{If]qsf] bf]xf]/f] kgn] o; If]qsf] lqmofzLntfdf h6Lntf yk]sf] 5 . vf;u/L zx/L oftfoftsf ;Gbe{df ef}lts k"jf{wf/, oftfoft Joj:yfkg / gLltx? ;'wf/sf nflu ;d]t Ps};fy x'g] x:tIf]kx?n] o:tf] c;lhnf] lgDTofpg] u/]sf] 5 . o;sf cltl/Qm, :yfgLo -u|fdL0f_ ;8ssf] lhDd]jf/L ePsf] ;+3Lo dfldnf tyf :yfgLo ljsf; dGqfno / /0fgLlts -/fli6«o_ ;8ssf] lhDd]jf/L ePsf] ef}lts k"jf{wf/ / oftfoft dGqfnosf] cfGtl/s Ifdtf clej[l4sf nflu ul/g] cfjZos k|of;x?n], sfof{Gjog -sf]if_ / k|fljlws k|0ffnLx?dfk{mt\ ljsf; ;fe]mbf/x?sf] lg/Gt/ cfO/x]sf] ;xfotfsf] 7"nf] c+zaf6 nfe lng ;Sg]5g\ .

$#= /0fgLlts nufgLsf] b[li6sf]0faf6, sf7df8f}+sf] ljsf;sf nflu b'O{{j6f lg0ff{os k|of;x?dfly ljrf/ ul/g' k5{ . klxnf], x]6f}+8f / sf7df8f}+aLrsf] j}slNks …kmfi6 6«ØfsÚ ;Dks{n] k|To]s ef/L 6«ssf] PstkmL{ ofqfdf cg'dflgt rf/–kf“r 306fsf] ;do tyf tLg xhf/ ?k}of“ -tL; cd]l/sL 8n/_sf] xf/fxf/Ldf x'g] OGwg vr{ art x'G5 . ;g\ @))* ul/Psf] of] …kmfi6 6«ØfsÚsf] k|f/lDes cfly{s ljZn]if0fn]

Page 26: Public Disclosure Authorized g]kfnsf nflu Ps b/b[li6 gLlt ... · i6 gLlt–;f/ ;+If]kviig]kfnsf nflu Ps b"/b[li6. dflysf] t'ngfdf_ . nufgLsf] 9f]sf vf]Ng'sf ;fy} ;j}sf nflu ;]jf kx'“r

18 g]kfnsf nflu Ps b"/b[li6 gLlt–;f/ ;+If]k

o;sf] cfly{s k|ltkmn b/ tL; k|ltzt eGbf a9L x'g] / nfut vr{ sl/a Ps ca{ 8n/ x'g] cg'dfg u/]sf] lyof] . bf];|f], sf7df8f}+ leq}, ;jf/L ;fwgsf] l56f] cfjfudgnfO{ a9L k|efjsf/L 9+un] Jojl:yt ug{;s] oftfoft / zx/L jftfj/0fdf ;'wf/sf ;fy} sf7df8f}+ pkTofsfsf] ;du| sNof0fsf nflu lg0ff{os sbd x'G5 . vf;u/L, ;fj{hlgs oftfoft ;]jf, a; ;]jf / k}bn ofqLsf nflu k"jf{wf/x?df ;'wf/ ug{ x'g] nufgLn] oxf“sf jfl;Gbfsf] cfjfudg, ;'/Iff / cGttf]uTjf pgLx?sf] :jf:Yodf b"/ufdL k|efj kfg]{ 5 . -;g\ @))# / @))^ sf] aLrdf sf7df8f}+ pkTofsfsf] xfjfdf v;|f s0fx?sf] cf};t ;3gtfsf] dfqf -kLPd–6]g–l;S;_ ljZj :jf:Yo ;+u7gsf] dfb08eGbf 5 u'0ff a9L kfOPsf] lyof] ._ oftfoft ;]jfsf] ;'wf/sf nflu cfjZos gLltut sbdx?af/] lj:t[t hfgsf/L …g]kfnnfO{ hf]8\bfÚ zLif{sf] gLlt–;f/df lbOPsf] 5 .

$$= To;}u/L, pmhf{ / oftfoftdf h:t} vfg]kfgL / ;/;kmfO{ ;]jfdf klg bLuf]kgf / u'0f:t/sf k|d'v d'2fx? 5g\ . vfg]kfgL / ;/;kmfO{ ;]jf kx'“sf ;"rsf+sx? If]qLo cf};tx?s} xf/fxf/Ldf 5g\ tfklg ;]jfsf] u'0f:t/ Psgf;sf] 5}g . ljz]ifu/L sf7df8f}+ pkTofsfleq of] ;du|df lju|bf] cj:yfdf 5 . u|fdL0f If]q, hxf“ cfof]hgfx? ;fk]IftM ;fwf/0f k|s[ltsf 5g\, t/ tLdWo] w]/} sfd gug]{ cj:yfdf 5g\ . zx/L / u|fdL0f b'j} If]qx?df nufgL cfjZos 5 . ;g\ @)!! / @)@)sf alrdf o:tf] cg'dflgt jflif{s nufgL s'ufpsf] ! bzdnj @ / !

bzdnj ^ k|ltztaLr x'g'kg]{ cfjZostf 5 . t/ ;fj{hlgs gLltx?n] bL3{sfnLg ;DklQ Joj:yfkg / ;]jf k|bfodf eGbf ;DklQ l;h{gf -gof“ cfof]hgf lgdf{0f_ tk{m a9L hf]8 lbg rfx]sf]h:tf] b]lvG5 . oxL a]nf, lghL nufgLaf/]sf] Joj:yf pT;fxljxLg /x]sf] 5 .

$%= vfg]kfgLsf] If]q ;'zf;g, cfly{s ;DefJotf / /0fgLlts Pjd\ bLuf] of]hgfsf] cefjn] u|:t 5 . klxnf], clxn] ePsf] ;DklQsf] l6sfpkgfdf ;'wf/ Nofpg / nufgLsf] k|ltkmn cfhLjg kfpg] agfpg ltgsf]] /fd|/L ;Def/ ug'{k5{ . k|i6 ;/sf/L ;+/rgfsf] cefjn] ;]jf k|bfosx?sf] hjfkmb]lxtf 36fp“5 . ToxL sf/0fn] vf;u/L zx/L If]qsf] ;]jfsf] u'0f:t/ klg vl:sg] u/]sf] 5 . bf];|f], pmhf{ If]qdf h:t} vfg]kfgL / ;/;kmfOdf klg ;]jf k|bfosx?n] k|of]usftf{af6 cfpg] z'Nsaf6 vr{ p7fpg ;s]sf 5}gg\ . o;n] ubf{ bL3{sfnLg lxt eGbf cNksfnLg ;f]rn] sfd ug]{ /f]u -OG;]lG6e ld;cnfOGd]6_ / u'0f:t/ v:sg] qmdnfO{ rsf{Psf] 5 . of] kl/l:yltn] jftfj0fLo sfo{k|bz{gLdf ;'wf/ Nofpg klg cem ufx|f] agfPsf] 5 . d"ntM If]qut of]hgf ckof{Kt 5g\ / oxL a]nf k|i6 /0fgLlt klg gx'g'n] cTofjZosLo vfg]kfgL tyf ;/;kmfO{ ;]jfsf] bLuf]kgfnfO{ ;+s6df kf/]sf] 5 . u|fdL0f of]hgfx?sf] l6sfpkgf clej[l4 ug]{ / zx/L ;]jfsf] u'0f:t/ ;'wf/ ug]{ pkfox? …vfg]kfgL tyf ;/;kmfO{ ;]jfsf] bLuf]kg, ;]jfIf]q / u'0f:t/ clej[l4Ú zLif{ssf] gLlt–;f/df k|:tljt ul/Psf] 5 .

Page 27: Public Disclosure Authorized g]kfnsf nflu Ps b/b[li6 gLlt ... · i6 gLlt–;f/ ;+If]kviig]kfnsf nflu Ps b"/b[li6. dflysf] t'ngfdf_ . nufgLsf] 9f]sf vf]Ng'sf ;fy} ;j}sf nflu ;]jf kx'“r

19 g]kfnsf nflu Ps b"/b[li6 gLlt–;f/ ;+If]k

$^= u/LaL ce}m 36fpg / cfly{s j[l4 b'j}sf nflu ;dfj]zLs/0f cfjZos zt{ xf] . /, u/LaL Go"gLs/0fdf pNn]Vo k|ult u/]sf] ePklg u/LaLnfO{ Oltxf;sf] ljifo agfpg / ;a}sf nflu ;dfg cj;/x? k|efjsf/L?kn] k|j4{g ug{ g]kfnn] ce}m nfdf] ofqf ug{ af“sL 5 . u/LaL Go"gLs/0f / ;dfgtfsf nflu cfly{s j[l4 cfjZos t/ ckof{Kt zt{ xf] . jf:tjdf, pNn]Vo ?kn] pRr, ;du| txsf cfly{s ultljlwsf] cefjsf sf/0f cfo ljt/0fsf] ;aeGbf tNnf] txdf /x]sfx?sf] hLjg:t/ /fd|f] agfpg] nIo xfl;n ug{ / g]kfnsf] ljb]zL >d ahf/df clxn] /x]sf] lge{/tf 36fpg nueu c;Dej 5 . t/, cfly{s j[l4dfq} kof{Kt x'“b}g . klxnf], cfly{s j[l4sf] cf/f]x–cj/f]x -;w}+_ u/LaL Go"gLs/0fsf] k|ToIf sf/s gaGg ;S5 / h8?kn] u/LaL / ljkGgtf ufl8Psf If]qaf6 ltgnfO{ x6fpg nlIft gLltx? cfjZos k5{ . bf];|f], cfosf] c;dfgtf 36fpg' cfk}+mdf nIo jf p2]Zo xf]Og M x/]s JolQmsf] Ifdtfsf] k"0f{ pkof]u x'g;Sg]] cj;/x? klg ;dfg?kn] pknAw x'g] s'/f ;'lglZrt ug'{ klg plQs} dxTjk"0f{ 5 . o; df]rf{df g]kfnn] ce}m /fd|f] ug{;S5 . t];|f], ax';+Vos g]kfnL vt/gfs ?kn] u/LaLsf] tx lgs6 5g\, ;fdflhs ;Gbe{df w]/} rnfodfg x'g -cl3 a9\g_ ;Sg] cj:yfdf 5}gg\ / s'g} cfly{s em6\sf nfUgf;fy hf]lvddf kg]{ gfh's l:yltdf 5g\ . ;a} ldnfp“bf, cj;/x? / k|lt:kwf{sf] w/ftnnfO{ ;dfgLs[t ug]{ tyf em6\sf vKg ;aeGbf gfh's l:yltdf /x]sfx?sf] ;+/If0f ug]{ gLltx?n] dfgj Pjd\ ef}lts k"“hL lgdf{0fdf lghL If]qsf] nufgL a9fpg] / cfly{s j[l4nfO{ yk ;an agfpg] 5g\ . oL r'gf}tLx?n] cfly{s j[l4nfO{ ;dfj]zLs/0fsf] k|j4{g / ;DkGgtfsf] ;fe]mbf/Lsf] p2]Zon] ;dfof]lht ug'{ kg]{ cfjZostf bzf{p“5g\ . o;sf ;fy}, ljz]ifu/L To:tf ;dfj]zL gLltx?, h;n] ;a} g]kfnLx?sf] pTkfbgzLn / :j:y hLjg jfRg] cj;/x?sf] lj:tf/ u5{g\, ltgn] ;du| pTkfbsTj j[l4nfO{ cl3 a9fp“5g\ . lsgeg], ce}m 7"nf] ;+Vofdf dflg;x?nfO{ ef]lnsf] >d ahf/df a9L pTkfbgzLn eP/ ;xefuL x'g] df}sf tL gLltn] lbnfp“5g\ . alxis/0f jf pd]/sf sf/0f hf] k5fl8 5'6\5g\, pgLx?n] e/y]u kfpgsf nflu ;fdflhs ;'/If0fsf] sjr cfjZos k5{ .

$&= ;du| pTkfbsTj a9fpg] / u/LaL 36fpg] b'j} p2]Zo Ps};fy k|fKt ug{sf nflu g]kfnsf] 7"nf If]qsf]] ?kdf /x]sf] s[lifsf] pTkfbsTj lj:tf/ ug'{ Pp6f :jefljs k|fyldstf xf] . s[lif ce}m;Dd klg cy{tGqsf] d"No clej[l4 ug{ bf];|f] 7"nf] of]ubfg ug]{ If]q xf] . o;n] s'ufpsf] PsltxfO eGbf a9L lx:;f cf]u6\5, / Tof] eGbfklg dxTjk"0f{, o;n] ce}m klg s'n hg;+Vofsf] tLg rf}yfO dflg;nfO{ /f]huf/L lbPsf] 5 . ljut ;ft jif{sf] cjlwdf u/LaL Go"gLs/0fdf xfl;n pknAwLdWo] (@ k|ltzt u|fdL0f If]qdf g} ePsf] 5 . /, u/Lax?sf] ;3g a:tL u|fdL0f If]qdf g} ePsf]n] u|fdL0f If]qsf] cfDbfgL j[l4 of]hgfx?n] u/LaL Go"gLs/0fnfO{ dWod sfndf lg/Gt/ cl3 a9fpg] ck]Iff ul/Psf] 5 . lsgeg], clxn] s]xL ;'wf/ ePklg Go"g pTkfbsTj, k/Dk/fut afnL Pjd\ v]tL ug]{ tl/sf / df};ddflysf] cTolws lge{/tf g]kfnsf] s[lifsf] d"n rl/q /x]sf] 5 . xfn}sf], s[lifsf] ;DefJotf eGbf sd sfo{k|bz{gLn] pTkfbsTj j[l4, To;sf] Joj;foLs/0f Pjd\ ljljwLs/0fdfk{mt\ s[lifsf] cfw'lgsLs/0f ug'{kg]{ cfjZostf yk 68\sf/f] agfPsf] 5 .

$*= k/Dk/fut lgjf{xd'vL s[lifaf6 a9L ljljwLs[t pTkfbsTjtk{m km8\sf] dfbf{ ljz]if u/L b'u{d If]qx?df pTkfbg Pjd\ cfDbfgL a9fpg ;lsg] ;DefJotf 5 . u/LaLsf] kl/0ffd:j?k, u|fdL0f hg;+Vofn] :yfgLo lgjf{xd'vL s[lifdfkm{t\ vfB ;'/Iffdf

;dfj]zLs/0f

lrq !# M u|fdL0f If]qsf] ljBdfg r'gf}tLsf ?kdf u/LaL lgjf/0f

1996”04 2004”11

Faster reduction in rural areas Narrowing wage differential between agriculture and non-agriculture

1995÷96 2003÷04 2010÷11

3=5

3

2=5

2

0=5

1

0=5

0

66

64

62

60

58

56

54

52

50

48

;|f]t M ljZj a}+s, u/LaL lgbfg cWoog, @)!#, g]kf/ hLjg:t/ ;j]{If0f

u/LaL b/sf] j

flif{s k

l/ht{g

sf] cj:yf

s[lif / u

}/ s[lif If]qsf] Ho

fnfsf] cg'k

ft

zx/L u|fld0f hDdf

Page 28: Public Disclosure Authorized g]kfnsf nflu Ps b/b[li6 gLlt ... · i6 gLlt–;f/ ;+If]kviig]kfnsf nflu Ps b"/b[li6. dflysf] t'ngfdf_ . nufgLsf] 9f]sf vf]Ng'sf ;fy} ;j}sf nflu ;]jf kx'“r

20 g]kfnsf nflu Ps b"/b[li6 gLlt–;f/ ;+If]k

k|fyldstf lbg] u/]sf 5g\, h;sf] pTkfbgsf] d"No Go"g 5 / o;n] Go"g cfDbfgLaf6 k'gM Go"g pTkfbg x'g] clgi6 rqmnfO{ nDAofO /x]sf] 5 . o:tf] k|j[lQdf /f]s nufpg pknAw k|ljlwx?af6, vf;u/L vfBfGgsf nflu, nfe lng' cfjZos 5 . ef/t;“u /0fgLlts ;xof]u cfbfgk|bfgsf ;fy;fy} s[lif cg'bfgnfO{ k'gM;+/rgf u/]/ Pjd\ cg';Gwfg / lj:tf/df s]lGb|t nufgLdfk{mt\ o:tf] nfe lng ;lsG5 . cTolws ;+Vofdf / bf?0f u/LaL ePsf, vf;u/L klZrd g]kfnsf e"–If]qx?df sd d"Nosf cgfh pTkfbgsf] ;§f gub] afnL pTkfbgtk{m afnL ljljwLs/0f ug{ ;lsg] pRr ;Defjgf 5 . o:tf pRr d"Nosf gub] afnLdf kmnk"mn, cf]v/, d/d;nf, hl8a'6L, lglZrt k|sf/sf t/sf/L / kz'hGo pTkfbgnufot x'g ;S5g\, h;sf] ef/tLo ahf/df a9\bf] dfu 5 / of] g]kfnsf nflu lgof{tsf] cj;/ aGg ;S5 .

$(= o; cy{df, s[lif pTkfbgsf ;fdfgx? cfk"lt{df lghLIf]qsf] e"ldsfdf j[l4, s[lif pkhsf nflu d"No clej[l4 >[ª\vnfsf] ljsf; ug'{, ef/tLo ahf/nfO{ b[li6ut u/L u}/–k/Dk/fut afnLx?sf] klxrfg / ltgsf] pTkfbgdf ul/g] ;xfotfdfk{mt\ afnL ljljwLs/0fdf ;3fpg' Pp6f k|d'v gLltut r'gf}tL x'g]5 . s[lif pTkfbgsf ;fdfg pTkfbgdf /fHosf] e"ldsf 36fpg] / lghL tyf ;xsf/L If]qnfO{ o;df ;xefuL u/fpg] gLltdfk{mt\ of] sfo{ ug{ ;lsG5 . o;};“u ;DjlGwt Joj;flos ljpm–ljhg pTkfbgsf] cg'ej ljpm–ljhg ;xfotfh:tf cfof]hgfaf6 klg cfpg ;S5 . a]nfotsf] cGt//fli6«o ljsf; ljefu -l8PkmcfO8L_ n] cfly{s ;xfotf lbPsf] of] cfof]hgfn] g]kfnL ls;fgx?nfO{ ;+ul7t x'g / t/sf/Lsf] lap pTkfbgsf] tflnd lbg ;3fPsf] u/]sf] lyof], h;n] ubf{ t/sf/L ljpm ljqmLsf]] lj:tf/ eof] . lghL / ;xsf/L If]qnfO{ ;xof]u ug{ ;/sf/n] lgjf{xd'vL ;fgf ls;fgx?sf nflu ahf/ / ;"rgfdf kx“'r ;'lglZrt ug{ ;xhLs/0f, u'0f:t/ lgoGq0f, gLlt tyf ljlgodx?, ;"rgf / cg'udg Pjd\ d"Nof+sg ;]jf lbg'k5{ . ;/sf/n] s[lif dGqfnosf] s[lif Joj;fo k|j4{g OsfOsf] ;'b[9Ls/0fdfk{mt\ k|lt:kwL{ d"No clej[l4 >[ª\vnfx?sf] ljsf; u/]/ pkhx?sf] d"No clej[l4 u/fpgdf ;fgf ls;fg / s[lifhGo Joj;fox?nfO{ yk ;xfotf lbg ;S5 .

%)= s[lifsf] pTkfbsTj a9fpg / o;nfO{ lghL If]qsf] g]t[Tjdf j[l4pGd'v u/fpg ;/sf/sf tk{maf6 nlIft pkfox? ckgfOg' cfjZos 5 . ;/sf/n] lghL If]qnfO{ s[lif pkhsf ;fdfg cfk"lt{df g]t[Tj lng k|f]T;flxt ug'{sf cltl/Qm s[lif Joj;fo ljsf;df ;xfotf ug{;S5 . k"jf{wf/sf] sdLnfO{ k"/f u/]/ s[ifsx?sf] sf/f]jf/ nfut 36fpg], ljQLo ;]jfx?df kx'“r k'¥ofpg] / s]xL 5flgPsf a:t'sf] d"No clej[l4 >[ª\vnf ljsf; ug{] sfo{df ;3fP/ ;/sf/n] o:tf] ;xof]u ug'{k5{ . vf;u/L, ahf/ kx'“rsf nflu ;8s / l;+rfO k|0ffnLh:tf k"jf{wf/x? kof{Kt gePsfn] s[lif pTkfbsTjsf] a9f]Q/Ldf c8\rg k}bf ePsf 5g\ . l;+rfO{ k"jf{wf/x?sf] ;'wf/ s[lif If]qsf] j[l4sf nflu Pp6f d'Vo pTk|]/s x'g]5 . ;/sf/n] l;+rfOsf] yk k|efjsf/L Joj:yfkgnfO{ cfk\mgf] k|fylstfdf /fVg' k5{ / o:tf] k|efjsfl/tf ;'zf;gsf] /fd|f] ;+oGq lgdf{0f / hn pkof]ustf{{ ;+u7gx?sf] k|j4{gåf/f

lrq !$ M :ofp pTkfbgsf If]q -dfly_ / cf]v/ pTkfbgsf If]q -tn_ . ;g\ @)!)÷!!

;|f]t M g]kfnsf] s[lif gS;f, @)!@

Page 29: Public Disclosure Authorized g]kfnsf nflu Ps b/b[li6 gLlt ... · i6 gLlt–;f/ ;+If]kviig]kfnsf nflu Ps b"/b[li6. dflysf] t'ngfdf_ . nufgLsf] 9f]sf vf]Ng'sf ;fy} ;j}sf nflu ;]jf kx'“r

21 g]kfnsf nflu Ps b"/b[li6 gLlt–;f/ ;+If]k

a9fpg ;lsG5 . s[lif cg'bfg sfo{qmdx?nfO{ k'gM;+/rgf / p2]Zo–s]lGb|t u/]/ yk nfe kfpg ;lsG5 . $ s/f]8 @) nfv cd]l/sL 8n/sf] /;folgs dn cg'bfgh:tf sfo{qmdx? pko'Qm k|sf/ / kl/df0fsf ;fdfu|L Nofpg ck|efjsf/L l;4 ePsf 5g\, hjls cg';Gwfg / k|;f/ ;]jfx? kof{Kt ah]6 lalgof]hgsf nflu t8\k]/ a;]sf 5g\ . cg'bfg sfo{qmdnfO{ d"nk|jfxLs/0f / cg';Gwfg Pjd\ k|;f/ ;]jfsf nflu ;|f]tx? k'gMljlgof]lht ug'{sf ;fy} g]kfnsf cg';Gwfg / k|;f/df ;+nUg sd{rf/Lx?nfO{ ef/tLo ;/sf/L tyf lghL s[lif cg';Gwfg k|0ffnLx?;+u ;+nUg x'g] c'gdlt lb+bf s[lifsf] cfly{s k|efjsfl/tf a9\5 . o; ;DaGwL lj:tfl/t gLltut ;'emfjx? …a9L pTkfbgzLn, Joj;flos / ljljwLs[t s[liftk{mÚ zLif{ssf] gLlt–;f/df lbOPsf] 5 .

%!= ;Dk"0f{ hg;+VofnfO{ cfly{s j[l4sf] nfe Gofof]lrt 9+un] ljt/0f ug{ cj;/x?sf] kx'“rdf ;'wf/ cfjZos 5 . g]kfnn] 7Ls} :t/sf] cfly{s lj:tf/ x'“bf klg ;fdflhs ;]jfx?sf] kx'“r lj:tf/ Pjd\ u/LaL Go"gLs/0f pknAwL xfl;n ug{df /fd|f] k|ult u/]sf] 5 . of] cj:yf ;an -hf]lvd_ ;xg Ifdtfsf] k|ltljDa xf], h'g pRr txsf] ;fdflhs ;+nUgtf / g]kfnL cfk|jf;L sfdbf/x?sf] lg0ff{os of]ubfgsf] e/f];fdf cl8Psf] 5 . oL sfdbf/n] k7fpg] ljk|]if0f b}lgs pkef]u / lzIffsf] vr{df k"0f{?kn] k|jflxt ePsf] 5 . ;xg Ifdtfsf oL k/Dk/fut ;|f]tx?af6 nfe lnP/ g]kfnn] r':t / nIo–s]lGb|t ;/sf/L x:tIf]kdfk{mt\ ;a}sf], vf;u/L u/La / ;LdfGtLs[tx?sf nflu, cj;/x/sf] lj:tf/ ug{df ce}m /fd|f] k|ult ug{;S5 . vf;u/L, :jf:Yo / k|fylds tx eGbf dflysf] lzIffdf ;]jf kx“'rnfO{ ;dfgLs[t ug]{tk{m p2]Zo–s]lGb|t x:tIf]kdf Wofg lbg''k5{ . yk s'/f, kx'“r lj:tf/sf] sfo{ u'0f:t/nfO{ Wofgdf /fv]/ ul/g' k5{ h;n] ubf{ ;dflhs k"jf{wf/df ePsf] nufgLsf] nfe k|efjsf/L 9+un] lng ;lsof];\ . ;]jf k|bfossf ?kdf ;/sf/sf] ;+nUgtfsf] cf}lrTo ;'wf/ ug{ :yfgLo txsf] ;]jf k|bfonfO{ kf/bzL{, k|efjsf/L / lgZkIf x'g]u/L Jojl:yt ul/g' cfjZos 5 . oL sbdx? rfln+bf bL3{sfndf cfly{s ljsf;nfO{ l6sfp agfpg / g]kfnfO{ ;kmntfk"j{s ljsf;sf] pRr txdf k'Ug ;xof]u k'Ug]5 .

%@= lzIff / :jf:Yo ;]jfdf kx'“r cj;/ lj:tf/ ug]{ d'Vo dfWod x'g\ / o:tf] kx'“rsf] Gofof]lrt ljt/0f / cem a9L u'0f:t/ ;'lglZrt ug{ cem w]/} sfd ug{ ;lsG5 . g]kfnn] lzIff / :jf:Yo ;]jfx?sf] cfk"lt{ lj:tf/ ug{df /fd|f] k|ult u/]sf] 5 . t/, oL cj;/x?df k|efjsf/L kx'“rsf] c;dfgtf / ltgsf] u'0f:t/af/]sf lrGtfx? af“sL 5g\ . dflg;sf w]/} ;d"xx?n], cljefjsx?sf] sdfO nufotsf kl/l:ylt, jf;:yfgsf] cjl:ylt / cGo sf/0fn] k|0ffnLut ?kd} oL c;/x?dfly sd kx'“r kfPsf 5g\ . g]kfnn] u/LaLnfO{ ;kmntfk"j{s Oltxf;sf] ljifo agfpg / kl/jf/x?nfO{ dfgj / ef}lts ;DklQdf 7"nf] dfqfdf nufgL ug{ ;Ifd agfpgsf nflu cfly{s–;fdflhs / cGo afwfx? h] h:tf ePklg, afnaflnsf, dlxnf / o'jfx?n] ;dfg k|s[ltsf cj;/x?df kx'“r kfpg' cfjZos 5 . yk s'/f s] klg 5 eg], :jf:Yo, lzIff / ;fdflhs ;'/If0fsf If]qdf hfjkmb]lxtfsf] ljs]Gb|Ls/0f x'g g;s]sf sf/0f pRr u'0f:t/sf] ;]jf lbg ;lsPsf] 5}g / ;DejtM kx'“rsf] c;dfgtfnfO{ o;n] cem v/fa agfPsf] 5 .

%#= d'Vo cj;/x?df kx'“r a9fpgsf nflu /fd|/L kl/nlIft k|]/s sfo{qmdx? cfjZostf k5{ h;n] ubf{ a9L h?/L ePsfx?n] 7"nf] kl/df0fsf] ;xfotf kfp“5g\ . csf]{ zAbdf, cj;/x? lj:tf/ ug'{sf] d'Vo cfjZostf g} :jf:Yo, lzIff / ;fdflhs ;'/If0fsf ljBdfg sfo{qmdx? u/La / clxn];Dd alxis/0fdf k/]sf;Dd k'Ug] s'/f ;'lglZrt ug{sf nflu k/]sf] xf] . g]kfndf lzIffsf] kx'“rdf ;'wf/ ePsf] 5, tfklg v'b ljBfyL{ xflh/L b/ / lzIffsf] pknAwLsf] u'0f:t/df u/LaL, hfltljz]if / e"–If]q ljz]if cflbdf cfwfl/t pRr txsf] c;dfgtf ce}m sfod 5 . lzIffsf] tx hlt dfly x'“b} hfG5 lje]b klg p;}u/L a9\g] u/]sf] 5 . pbfx/0fsf nflu ;g\ @)!) df ;aeGbf u/La / To;kl5sf u/La b'O{{ k~rf+zx?sf] dfWolds tx -sIff ( b]lv !@_sf] ljBfyL{ xflh/L b/ qmdzM !* / @^ k|ltzt lyof] . u/La ljBfyL{x?nfO{ cfwf/e"t eGbf kl5sf] lzIffsf nflu lbOg] 5fqj[lQn] ;do qmd;“u} a9L ;dfgLs[t z}lIfs pknAwL / cj;/x? lbnfpg ;S5 . To;}n], casf] gLltsf] d"n p2]Zo vf;u/L dfWolds tx / To;dflysf] lzIffsf nflu u/LaL–nlIft 5fqj[lQsf]

Page 30: Public Disclosure Authorized g]kfnsf nflu Ps b/b[li6 gLlt ... · i6 gLlt–;f/ ;+If]kviig]kfnsf nflu Ps b"/b[li6. dflysf] t'ngfdf_ . nufgLsf] 9f]sf vf]Ng'sf ;fy} ;j}sf nflu ;]jf kx'“r

22 g]kfnsf nflu Ps b"/b[li6 gLlt–;f/ ;+If]k

lj:tf/sf] /0fgLlt ljsf; ug]{ / juL{s/0fdf cfwfl/t 5fqj[lQ sfo{qmdx?nfO{ qmdj4 ?kn] x6fpg] x'g'k5{ .

%$= :jf:Yo If]qdf klg p:t} ;d:of ljBdfg 5g\, h;sf] ;]jf u/La;Dd k'Ug ;s]sf] 5}g . ;g\ @)!! df, ;aeGbf wgL k~rf+zdf kg]{ ju{sf &* k|ltzt aRrfsf] hGd :jf:Yo ;]jf lbg] ;+:yfdf eof], t/ oxL ;+Vof ;aeGbf u/La k~rf+zdf kg]{dWo]sf] !! k|ltzt dfq} lyof] . ;aeGbf u/Ladf kg]{ $) k|ltzt g]kfnLdWo] %$ k|ltzt dfq} :jf:Yo ;]jfsf] pknAw u'0f:t/af6 ;Gt'i6 5g\, hjls ;aeGbf wgL @) k|ltztdf ^& k|ltzt ;Gt'i6 5g\ . yk ljifo, :jf:Yo pkrf/sf nflu ;f]e}m vNtLaf6 lems]/ ug'{kg]{ 7"nf] vr{n] g} ljkGgx? u/LaLsf] yk r]k'jfdf kfg]{ u/]sf 5g\ . ;g\ @))# sf] tYof+s cg';f/ jif{df sl/a ̂ bzdna & k|ltzt kl/jf/x? o:tf] vr{sf] kl/0ffd:j?k u/LaLsf] /]vfd'gL emg]{ u/]sf] b]vfPsf] lyof] . To;}n], d'Vo gLltut kxnsbdL lnO“bf u/Lax?n] klg :jf:Yo ;]jf a9L /fd|/L pkof]u ug{;Sg] / pgLx?sf] kf]if0fsf] :t/ a9fpg ;Sg] u/L ;'wf/ Nofpg] nIo /fVg' k5{ . :jf:Yo If]qsf] h'g;'s} gLltut kxn klg u/Lax?n] :jf:Yof]krf/sf nflu ;f]e}m vNtLaf6 lems]/ ug'{kg]{ vr{ 36fpg]tk{m cu|;/ x'g'k5{ . u/Lax?sf nflu dfu / cfk"lt{ kIfLo nufgLsf of]hgfx?df nlIft u/]/ Pjd\ /fli6«o :jf:Yo aLdf of]hgftk{m cl3 a9\g] ljsNknfO{ k/LIf0f u/]/ of] vr{ 36fpg] p2]Zo xfl;n ug{ ;lsG5 .

%%= hgtfnfO{ u/LaLaf6 aflx/ lgsfNg] csf]{ Pp6f dxTjk"0f{ k"j{zt{ pgLx?n] /fd|f] /f]huf/L kfpg ;Sg] / ;fdflhs?kn] rnfodfg x'g ;Sg]u/L zLk lbnfP/ ;Ifd agfpg' xf] . g]kfnsf] hg;+Vofsf] ;+/rgfdf pNn]Vo kl/jt{g cfP/ o'jf pef/ b]lvPsf] 5 -;g\ @)!! sf] hgu0ffgfn] !% b]lv %( jif{ pd]/sf dflg;sf] hg;+Vof %& k|ltzt b]vfPsf] 5_ . t/ ;Lldt zLkn] dflg;x?nfO{ u/LaLaf6 aflx/ lgsfNg] k|s[ltsf sfd kfpgaf6 5]s]sf] 5 . cf}krfl/s / cgf}krfl/s b'j} If]qdf, 3/]n' tyf j}b]lzs sfdbf/x?sf] pTkfbsTj / k|fljlws Ifdtf a9fpg' kg]{ r'gf}tL ljBdfg 5 .

jflif{s tLg nfveGbf a9L sfdbf/x? /f]huf/Lsf nflu ljb]lzG5g\ / pgLx?n] g} k7fpg] ljk|]if0faf6 clxn]sf] cfly{s j[l4 / u/LaL Go"gLs/0fn] pmhf{ kfPsf 5g\ . t/ tL cfk|jf;L sfdbf/dWo] &% k|ltzteGbf a9L Go"g bIftfsf] sfddf ;+nUg 5g\ . of] ;d:ofsf] ;dfwfg ug{ g]kfnn] ;/sf/L / lghL ;fe]mbf/L a9fP/ /f]huf/L–s]lGb|t zLk ljsf;sf sfo{qmd agfpg' cfjZos 5 . o:tf sfo{qmd agfp“bf cgf}krfl/s If]q / ljb]lzg] >ldsnfO{ cfjZos kg]{ zLkx?sf] dfutk{m ljz]if Wofg lbg'k5{ . Jojxf/–;+ut cj;/ ;dfgLs[t ug]{ gLltx?af/] yk ljj/0f …u/LaLaf6 pDsg ;a}sf nflu cj;/x?df ;'wf/Ú zLif{ssf] gLlt–;f/df lbOPsf] 5 .

%^= r/d u/LaLnfO{ k|efjsf/L ?kn] ;Djf]wg ug{ / hf]lvdsf] lgl/x ;+3f/df /x]sf hgtf u/LaLdf gk?g\ eGgsf nflu cem k|efjsf/L / u/LaL–s]lGb|t ;fdflhs ;'/If0f k|0ffnL cfjZos 5 . ljBdfg ;fdflhs ;'/If0f k|0ffnL u/La / lgl/x cj:yfdf /x]sfx?nfO{ e/kbf]{ ;'/Iff sjr k|bfg ug{ ckof{Kt 5 . xfn}sf jif{x?df g]kfnsf] ;fdflhs ;'/If0f vr{df pNn]Vo j[l4 ePsf] 5 . ;g\ @))$÷)% df s'ufpsf] Ps k|ltzt /x]sf] of] vr{ ;g\ @)!!÷!@ df tLg k|ltzt k'u]sf] 5 . o:tf] j[l4 x'“bfx“'b} klg gub ljt/0f / 5fqj[lQnufotsf ;fdflhs ;'/If0f sfo{qmdx?sf] u/LaL / c;dfgtf 36fpgdf ;Lldt dfq} k|efj k/]sf] 5 . t/ lrq !% df b]vfOPh:t}, ljZj a}+ssf] cg'dfg cg';f/, ;dflhs ;xfotfsf sfo{qmdx? ePgg\ eg]klg s'n u/LaL b/df z"Go bzdnj % k|ltztsf] - @% bzdnj @ k|ltztaf6 @% bzdnj & k|ltzt k'Ug]_ lemgf] j[l4 dfq} x'g]5 . w]?}h:ff] sfo{qmdx? k|ToIf ?kn] u/Lax?k|lt nlIft 5}gg\ / ltgdf pNn]Vo dfqfsf] ck'u–;]jf, r'xfj6 / k|zf;lgs cbIftf b]lvG5 . o;sf ;fy}, g]kfnsf] ;fdflhs ;'/If0f k|0ffnL vl08t / ;dGjoljxLg 5— w]/}j6f dGqfno / lgsfox?dfk{mt\ ljt/0f eO/x]sf] 5, h;n] nfex?sf] ;Defljt bf]xf]/f]kgf cyjf k|efjsf/L ;fdflhs ;'/If0fdf sdhf]/L Nofpg] u/]sf] 5 . o:tf] gub ljt/0faf6 k|ToIf jf ck|ToIf nfe kfpg] g]kfnLx? !& bzdnj % k|ltztdfq 5g\, h'g clxn]sf] @% k|ltztsf] u/LaL

Page 31: Public Disclosure Authorized g]kfnsf nflu Ps b/b[li6 gLlt ... · i6 gLlt–;f/ ;+If]kviig]kfnsf nflu Ps b"/b[li6. dflysf] t'ngfdf_ . nufgLsf] 9f]sf vf]Ng'sf ;fy} ;j}sf nflu ;]jf kx'“r

23 g]kfnsf nflu Ps b"/b[li6 gLlt–;f/ ;+If]k

b/eGbf lgs} tn xf] . o:tf] ljt/0fsf] nfe ljleGg cfo k~rf+zdf kg]{x?n] nueu ;dfg?kn] kfpg] cj:yf 5 . h:t}, j[4eQf ;aeGbf wgL k~rf+zdf kg]{x?n] klg ;aeGbf u/Lax? ;/x g} kfp“5g\ . ;fdflhs aLdf sfo{qmdn] s'n hg;+Vofsf] ;ft k|ltzt, o;dWo] klg ax';+Vos ;fj{hlgs ;]jfaf6 lgj[Q x'g]x?nfO{ dfq ;d]6\5 . nfeu|fxL nlIft ubf{ pgLx?sf] cfo / ;Dj[l4sf] cj:yf Vofn gu/L w]/}h;f] juL{s/0f -pd]/, hflt cflb_sf cfwf/df ul/G5 . ;fy;fy}, cg'udg, ;';"lrt gLlt lgdf{0f / kf/bzL{ Pjd\ e/kbf]{ e'QmfgL k|0ffnLh:tf sfo{qmd sfof{GjognfO{ k|efjsf/L agfpg ;3fpg] cfjZos k|zf;lgs ;+/rgfsf] klg ljt/0f k|0ffnLdf cefj 5 .

%&= g]kfnsf] ;fdflhs ;'/If0f k|0ffnLnfO{ ;'wf/ ug{df s]Gb|Lo d'2f x'g\–

s_ gof“ sfo{qmdx? z'? ug]{ /÷cyjf eO/x]sf s]xLnfO{ ;'wf/ jf aGb ug]{ ;DjGwdf eljZosf lg0f{osf nflu dfu{bz{s aGg] ;fdflhs ;'/If0f gLltsf] ;+/rgfnfO{ clGtd?k lbO“b} ubf{ oL sfo{qmdx?sf] yk lj:tf/nfO{ ;Lldt ul/g k5{,

v_ ;aeGbf 7"nf] sfo{qmdaf6 z'? u/]/ cGttM sfo{qmd / dGqfnox?aLrsf] ;femf Joj:yfkg d~r tof/ x'g]u/L sfof{Gjog k|0ffnLsf] ;'b[9Ls/0fsf nflu nufgL ug'{ k5{, /

u_ ldl>t k|sf/sf ;fdflhs ;'/If0f sfo{qmdx? /x]sf ;Gbe{df ljBdfg u/LaL, hf]lvd / lgl/xtfsf] r':t ljZn]if0f u/]/ jf:tljs ;]jf k|bfodf ePsf sdLx?sf] ;Daf]wg ug'{ k5{ .

ldl>t k|sf/sf ;fdflhs ;'/If0f sfo{qmdx? /x]sf ;Gbe{df kof{Kt ;'/If0f gkfPsf hf]lvd / lgl/xtfnfO{ ;Djf]wg ug]{ qmddf, ;Lldt cfly{s ;|f]tx? ctL h?/L ePsfx?nfO{ cTolws ;'/If0f k|bfg ug{ k|efjsf/L ?kn] k|o'Qm xf]pg\ eGgsf nflu sfo{qmdx?nfO{ k|i6?kn] u/La nlIft agfpg]tk{m ljrf/ k'¥ofpg' cfjZos 5 . -o;/L nlIft ug{ h] ljz]if ljlw ckgfP klg km/s kb}{g ._ o; lbzfdf lnOg'kg]{ vf; sbdx? …d"nk|jfxLs[t, k|efjsf/L /

u/LaL–s]lGb|t ;fdflhs ;'/If0f k|0ffnLÚ zLif{ssf] gLlt–;f/df k|:tfljt ul/Psf] 5 .

%*= clGtd t/ dxTjk"0f{, cGttM ;+3Lo /fHo ;+/rgftk{msf] ?kfGt/0fn] ;]jf k|bfodf bL3{sfnLg c;/ KFfg]{ 5, / olb of] k|lqmofnfO{ /fd|/L Joj:yfkg ul/Pg eg], ;]jf k|bfodf uDeL/ cJoj:yf, pRr /fhgLlts tgfjsf ;fydf ce}m km/flsnf ef}uf]lns c;dfgtfx? lglDtg ;Sg]5g\ . Ps, klxnf] ;+ljwfg;efn] u/]sf] sfdsf] nIf0f cg';f/, ;+qmd0f jf ?kfGt/0fdf k"0f{?kn] gof“ b'O{{ tx / lj:tfl/t lhDd]jf/L;xltsf pk–/fli6«o -If]qLo_ ;/sf/x? ;dflji6 x'g]5g\ . tL ;/sf/x?sf] l;h{gfn] s]Gb|Lo k|zf;gsf] p2]Zo / cfsf/df Jofks k'gM;+/rgfsf ;fy zlQm, ;DklQ / ;|f]t -cfly{s / dfgj b'j}_sf] pNn]vgLo x:tfGt/0f lgDTofpg] 5 . of] k|lqmof Joj:yfksLo / /fhgLlts b'j} b[li6n] cToGt} s7Lg ePsf] cGt/fli6«o cg'ejx?n] ;'emfp“5g\ . oxL sf/0fn], of] k|lqmofnfO{ ;kmn agfpg ljz]if ;+:yfx? —rflxPhlt ;|f]t, :jtGqtf, sfof{b]z / ljZn]if0f Ifdtf;lxtsf—lgdf{0f u/]/ Jojl:yt ul/g' cTofjZos 5 . cGt/fli6«o cg'ejx? x]bf{, ;fofGotof o:tf] k|lqmofdf Pp6f pRr:t/Lo ;+:yf lgdf{0fsf] s'/f k5{ h;nfO{ ;Dk"0f{ k|lqmofsf] ;dGjo ug]{ lj:t[t clwsf/ x'G5 / of] cGt/–;/sf/L ljQLo Joj:yfx?sf] ljsf; / qmlds k|ultsf] ;'k/Lj]If0f ug]{ ljz]if lhDd]jf/Lo'Qm lgsfo klg x'G5 . k]ml/, ;a} txsf ;/sf/x?nfO{ cfk\mgf p2]Zo cg'?k sfo{ ug{ ;Sg]u/L kof{Kt cfly{s ;|f]tsf] pknAwtf ;'lglZrt ug{sf nflu tL sfo{x?sf] lj:t[t ljefhg / nfut cg'dfg cfjZos k5{ .

u/LaL b/ lhgL u'0ffª\s

jt{dfg @%=@ k|ltzt )=#@*

;fdflhs aLdf sfo{qmdx?sf] cefjdf @^=^ k|ltzt )=#@(

;fdflhs ;xfotf sfo{qmdx? -gub x:tfGt/0f tyf 5fqj[lQ_ sf] cefjdf

@%=& k|ltzt )=##)

gub x:tfGt/0f sfo{qmd sf] cefjdf @%=^ k|ltzt )=##)

5fqj[lQ sfo{qmd sf] cefjdf @%=# k|ltzt )=#@(

lrq !% M g]kfnsf] ;fdflhs ;'/If0f k|0ffnL M u/LaL / c;dfgtfdf c;/

;|f]t M ljZj a}s 6f]nLsf] t];|f] g]kfn hLjg:t/ ;j]{If0fdf cfwfl/t ljZn]if0f

Page 32: Public Disclosure Authorized g]kfnsf nflu Ps b/b[li6 gLlt ... · i6 gLlt–;f/ ;+If]kviig]kfnsf nflu Ps b"/b[li6. dflysf] t'ngfdf_ . nufgLsf] 9f]sf vf]Ng'sf ;fy} ;j}sf nflu ;]jf kx'“r

24 g]kfnsf nflu Ps b"/b[li6 gLlt–;f/ ;+If]k

;fydf, cfjlws / tYodf cfwfl/t ;dLIffsf nflu k"j{–kl/eflift ;+/rgfx? rflxG5 . bf];|f], ;a}h;f] d'Vo ;fdflhs tyf cfly{s ;]jfx? :yfgLo ?kd} lbOg] x'gfn] gof“ ;+3Lo /fHodf aGg] gof“ pk–/fli6«o ;/sf/x?;“u ;]jf k|bfosf nflu cfjZos b'j} s'/f —k|fljlws Ifdtf / ;|f]t -cfly{s / dfgj_ x'g' plQs} dxTjk"0f{ 5 . k5fl8 k/]sf If]qx?n] -;+3Lotf ;“u}_ cfk\mgf] eljZodfly yk lgoGq0f t k|fKt ug]{5g\, tyflk pgLx?sf nflu r'gf}tLx? klg emg ylkg] 5g\ . lsgeg], pgLx?df k|fljlws tyf cfly{s Ifdtf Pjd\ cg'ej —;fk]IftM— sdL /xg] 5 / Joj:yfkg, k|zf;g / ;]jf k|bfosf nflu vf; -ljz]if1_ dfgj ;|f]t cfslif{t ug{ c;lhnf] kg{ ;S5 . t;y{, tof/L of]hgf ;'lglZrt ul//fVg' lgDg sf/0fn] dxTjk"0f{ 5M

s_ /fHozlQmsf] k|efjL x:tfGt/0fsf] cf}lrTo :yflkt x'g]u/L sfd ug]{ cfjZostf / cfk\mg} cfGtl/s Ifdtf lgdf{0fsf] cfjZostfaLr ;Gt'ng sfod x'g]u/L lhDd]jf/Lx? x:tfGt/0f ug{

v_ lghfdlt ;]jfsf] k'gM;+/rgfnfO{ k|j4{g ug{, h;df d'n'ssf] k5fl8 k/]sf If]qx?df zLksf] uDeL/ sdL x'g glbg ljz]if Wofg / pTk|]/0ff cGtlg{lxt xf];\ .

o:tf] of]hgf lgdf{0fsf d'Vo cjojx? …ljs]Gb|Ls/0fsf nflu tof/LÚ zLif{ssf] gLlt–;f/df k|:t't ul/Psf 5g\ .

Page 33: Public Disclosure Authorized g]kfnsf nflu Ps b/b[li6 gLlt ... · i6 gLlt–;f/ ;+If]kviig]kfnsf nflu Ps b"/b[li6. dflysf] t'ngfdf_ . nufgLsf] 9f]sf vf]Ng'sf ;fy} ;j}sf nflu ;]jf kx'“r

25 g]kfnsf nflu Ps b"/b[li6 gLlt–;f/ ;+If]k

%(= g]kfnsf] gof“ ;/sf/sf cufl8 cfly{s j[l4sf] eofjx r'gf}tL 5 . tyflk, cGt/fli6«o cg'ejx?n] s] b]vfPsf 5g\ eg] nufgLsf d'Vo cj/f]ws c8\rgx?nfO{ x6fpg] vfnsf, /0fgLlts z}nLsf] gLlt–lgdf{0fn] d'n'ssf] cfly{s ;DefJotf / k|If]k0fx?nfO{ pNn]Vo ?kn] ablnlbg ;S5 . of] gLlt–;f/sf] 7\ØfSs} p2]Zo g} gLltut x:tIf]ksf nflu d'Vo If]qx?sf] klxrfg / k||fyldsLs/0f ug{ o:tf /0fgLlts ;'emfjx? lbg' xf] . g]kfn ;xL lbzfdf cl3 a9L/x]sf] s'/f oxf k'gM hf]8 lbg nfos 5 M plrt:t/sf] cfly{s ljljwLs/0f -cfosf] ;fk]Ifdf_, d'Nojfg\ ;|f]t–;fwg, pRr ;xg Ifdtfsf ;d'bfo / gof“ :j?ksf] /fhgLlts l:y/tf jt{dfg g]kfndf 5g\ . cfly{s ;DefJotf cg';f/ g]kfnfnfO{ cl3 a9\g ;Ifd agfpgsf nflu cfwf/e"t s'/fx?nfO{ 7fp“df Nofpg] r'gf}tL 5 .

^)= of] gLlt–;f/sf] ;dLIff v08n] cfly{s j[l4sf nflu /0fgLlts b"/b[li6 k|:t't u/]sf] 5, hjls 5'§f5\'§} ljifout gLlt–;f/x?n] yk ulx/fOdf kl/k"/s hfgsf/L / If]q–ljz]ifsf nflu gLltut ;'emfjx? lbPsf 5g\ . ltgn] ;/sf/nfO{ ljrf/ ug{sf nflu s]xL vfsf lbg]5g\ / ;/f]sf/jfnfx?aLr ;+jfbsf nflu cfwf/sf] sfd ug]{5g\ .

s_ d'Vo gLltut ;'emfjx?nfO{ k]m/jbn / kl/:s[t ug{, ;fy},

v_ x/]s If]qsf c+z–c+zsf] yk lgbfg ub}{ ;do qmd;“u} cufl8 a9\g— of] gLlt–;f/ ;+jfbsf] z'?jft xf] .

^!= …y|L cfO{Ú cyjf …nk";Ú ;+/rgfn] nufgL, k"jf{wf/ / ;dfj]zLtfdf s]lGb|t gLltx?n] s;/L dWod sfndf ultjfg\ / bLuf] cfly{s j[l4sf] jftfj/0f l;h{gf ug{ ;S5g\ eGg] /]vf+lst u/]sf] 5 . klxnf], l:yfloTj ePsf] ljQLo If]q, ;xh nufgLsf] jftfj/0f / /0fgLlts ;fj{hlgs nufgLn], nufgL–k"jf{wf/sf] u'0ffTds rqm lgdf{0fdf 7"nf] d2t ug{;S5 . o;n] ;du| cfly{s ultljlwdf a9f]Q/L dfq} ub}{g, clkt' g]kfnsf] u/La / b'u{ddf /x]sf] hg;+Vofsf] lx:;fnfO{ k|ToIf nfe klg k'¥ofp“5 . bf];|f], ;DkGgtfdf ;fe]mbf/L k|j4{g / bLuf] Pjd\ pRr cfly{s j[l4tk{m cl3 a9\gsf nflu km/flsnf], ;Dj[l4 clej[l4sf/s k|f/lDes If]qsf ?kdf /x]sf] s[lif pTkfbsTjdf s]lGb|t x'g' cfjZos 5 . o;n] cfout, hftLo / ef}uf]lns ljljwtfdf /x]sf g]kfnLsf nflu cj;/ j[l4sf] k|of;df kl/k"/ssf] sfd u5{ . t];|f], clxn] hf/L /x]sf] ljs]Gb|Ls/0fsf] ;fj{hlgs, ;fdflhs / k|zf;lgs ;]jfsf k|fjwfgx?df k|efjsfl/tf clej[l4sf] 7"nf] ;DefJotf 5 . t/ cufl8 a9\g] qmddf o;nfO{ ;lqmo?kn] Jojl:yt / ;dfof]lht ug{ cfjZos 5 .

;f/ / lgZsif{

Page 34: Public Disclosure Authorized g]kfnsf nflu Ps b/b[li6 gLlt ... · i6 gLlt–;f/ ;+If]kviig]kfnsf nflu Ps b"/b[li6. dflysf] t'ngfdf_ . nufgLsf] 9f]sf vf]Ng'sf ;fy} ;j}sf nflu ;]jf kx'“r

26 g]kfnsf nflu Ps b"/b[li6 gLlt–;f/ ;+If]k

d'V

o g

Lltu

t k|f

yld

stf

x?!= k

|ljlws / lj

QLo

;'wf/ ty

f 3f6f

Go"gLs/0f u

'?of]h

gf;lxts

f] g]kfn

ljB't

k|flw

s/0fs

f] ;+:y

fut

ljsf;

of]hg

agfp

.

@= lj

B't lj

sf;

;De

\mØf}tfn

fO{

cBf

jlws

u/]/ ;

/sf/L l

gsfox?

sf]

bfloTj

nfO{ Uof/]06Lx?

dfk{mt\

;'/Iff

lbg

d'n'sut

hf]lv

dx?n

fO{ ;

'/If0f

df

;d]6

.

#= k

|;f/0f

nfOg

n}hfg] d

fu{sf]

clwsf/ ;

DjGw

L gLlt

agfp, h

;n]

k|of]udf

aGb]h n

fUg] h

dLgs

f] sfg"gL

Joj:

yfcg';

f/ h

dLgs

f] cjl:y

lt /

k|of]usf] ;

Defjgf ;

d]tnfO{ lj

rf/

u/]/,

Gofof]lr

t d'c

fjhf lbn

fpF5 .

$= oftfoft

k"jf{wf/sf] g

ofF

lgdf

{0feGbf e

Psf ;

DklQsf] ;

Def/nfO{

k|fylds

Ls/0f u

/ / dd

{t ;De

f/sf]

cg'u

dg ;

+oGqn

fO{{ ;

an a

gfp

.

%= o

ftfoft If]qsf] n

ufgL 5

gf}6

k|lqmofnfO{ /fh

gLlts x

:tIf]ka

f6

c5'tf] /fVg

dfkb0

8x?s

f] ;+lxtf

ag

fp .

^= b

|'tdfu{ j

f kmfi6

6«Øfs

cfof]h

gfnfO{, c

fof]h

gf s

fof{Gj

og

jftfj/

0fnfO{ l:

y/ a

gfP/

, k|flj

lws

d"n c

jojx

? to

f/ u

/]/ / n

fut

Pjd\

;jf/L r

fk k

|If]k0

fnfO{ c

Bfjlws

u/]/

k'gM a

f6f]df N

ofp

.

!= ;

'wfl/P

sf s

[lif k

|ljlwx?

sf] k

lxrfg / lj

b]zaf6

cfoft

u/

tyf e

f/t;

Fu lgs6

;xo

f]u c

fbfgk|b

fgdf

k{mt\

ToxfFsf]

s[lifsf] lj:

t/af6

cfp

g] nfe

sf] k

mfObf ln

p .

@= lj

pm–lj

hg

pTkfbg

df lg

hL I

f]qsf] ;

xeflu

tfnfO{

k|f]T;

fxg

u/ / ;

/sf/sf] e

"ldsfn

fO{ lg

odg

/ ;xh

Ls/0fd

f -df

q_ k

'gM s

]lGb|t

u/ .

#= e

f/tLo a

hf/n

fO{ n

lIft

u/]/ u}/

–k/Dk/

fut

pRr d

"Nosf

pTkfbg

x?sf] k

lxrfg / lt

gsf] p

Tkfbgd

f ;xo

f]u u

/ .

$= lj

z]ifu/L

dfWolds

tx / To

;dfly

sf] lz

Iffsf n

flu

u/LaL–n

lIft

5fqj

[lQsf] lj

:tf/

ug]{ /0fg

Llt lj

sl;t

u/ / ;fyd

f ju

L{s/0fdf n

lIft

5fqj

[lQ s

fo{qmdx

?nfO{

qmdj

4 ?k

n] x6

fp .

%= /fli6«o

ljBf

yL{ p

knAw

L d"No

f+sg

-gf;

f_ k|0

ffnLn

fO{

;+:y

fut

ug]{ / z

}lIfs p

knAw

Lx?s

f] of]h

gfj4

?kn]

cg'u

dg x

'g] s'/f ;

'lglZrt

u/ .

^= :jf:Yo

tyf h

g;+Vo

f dGq

fnod

f s/f/÷

vl/b

Ifd

tf

:yflk

t u/

.

&= P

s} k

|zf;

lgs k

|0ffnL c

Gtu{t

;fd

flhs

;'/If0f

sfo{qmdx

?nfO{ ;

'b[9Ls

/0f u

/ / of] k

|0ffnLs

f] sfo{k|b

z{gLnfO{ lg

lZrt

/fli6

«o ;"rsfª\sx?

;Fu

bfFh]/

cg'u

dg u

/ .

*= lj

QLo

ljZn

]if0f u

g{, s

f]ifsf] c

Gt/–;/s

f/L

x:tfGt

/0fs

f] k2lt

agfp

g Pj

d\ Jo

jl:y

t ug

{ cfk\mg}

Ifdt

fjfg\ ;

lrjfno

ePsf] a

lnof] c

fly{s c

fof]u a

gfp

.

s[lif Joj

;fo t

yf d

"No >

[ª\vnf ljsf;

sf

nflu

;xo

f]u c

fbfgk|b

fg / s

[lif k

|ljlw

tyf sfo{qmdx

?df cg';

Gwfgdf

k{mt\

s[lif

pTk

fbsTj

/ lj

ljwt

f k|j

4{g u

/ .

:jf:Yo

/ lz

Iff If]qd

f pRr

u'0f:t

/ sfd

o ug

{ x:t

If]k

u/]/ ;a}

g]kfn

Lsf] cj;

/sf

If]qs

f] lj:t

f/nfO{ ;

an a

gfp .

sfo{qmdx

?sf] yk

lj:t

f/nfO{ ;

Lldt

u/]/,

d"n k

|zf;

lgs k

|0ffn

LnfO{ ;an

agfP/ / u/

LaL Pj

d\ hf]lv

d k|fylds

tf /

lgl/xt

fnfO{ ;

Djf]wg

ug]{ k

|i6?k

n] l8

hfOg

ul/P

sf sfo{qmdå

f/f ;fd

flhs ;

'/If0f

of]hgfx?

sf] u/

LaL -Go

"gls/0f_d

f kg

]{ k|ef

j ;'b[9

agfp .

;+qmd0

fsf] k|lqmofnfO{ Joj

l:yt

ug]{

;+:y

fx?

:yflk

t u/

]/ Pj

d\ k|T

o]s t

xsf

;/s

f/sf sfo{If]q

tyf lh

Dd]jf/L k

|i6 k

f/]/

ljs]Gb|Ls

/0fs

f nflu

tof/L u

/ .

cfly

{s If]qnfO{ e

m6\sf vKg

;Sg

]u/L yk

;xg

zLn

/ a

rtn

fO{ p

Tkfbgz

Ln k

|of]us

f lbzfd

f yk

k|efjsf/L dW

o:ys

tf{ a

gfpg

Pjd\

kx'FrnfO{ lj

:tf/ u

g{ ljQL

o If]qs

f] ;an

Ls/0f u/

.

g]kfn

df Joj

;fo :yf

kgf /

lj:t

f/df

;3f

pg, Joj

;fox?

n] ;

dfgf

ug

'{kg]{ c

8\rgx

? x6

fpg

nuf

gLsf]

jftf

j/0fdf

;'wf/ u/

.

g]kfn

n] a

h]6

Joj:

yfkg

f ag

fPsf]] p

Nn]Vo

…v

]Ng] 7

fpFÚaf6 n

fe ln

g ;fj{hlgs v

r{

Joj:

yfkg

nfO{ d

"nk|j

fxLs

/0f u/

.

!= g

]kfn

/fi6«

a}+s ;

+;f]wg

ljw]o

s / g

ofF

lgIf]k

tyf C

0f ;'/

If0f s

f]if lj

w]osnf

O{ sfg"g

agfP/ nf

u" ug

]{ ult t

Lj| a

gfp

.

@= g

]kfn

a}+s ln

ld6]8

sf] ljlgj

]z u

g{ /

/fli6«o

jfl0fHo

a}ssf] s

fof{b]z k

|i6;Fu

kl/e

flift u

g{sf n

flu lj

QLo

If]q

Joj:

yfkg

dxfzfv

fsf] I

fdtf c

lej[l4

u/ .

#= lj

QLo

kx'Frsf n

flu ;

a} cf

ofdx

? ;d

]l6Ps

f] /0fg

Llt a

gfp

.

$= s

DkgL /lh

i6«f/s

f] sfof{no

/ pB

f]u lj

efus

f] pBf

]u cg

'dlt

k|lqmofnO

{ d"n

k|jfxLs

/0f u

/ .

%= n

fef+z

P]gn

fO{ y

k nlrnf

] agfpg

;d

LIff u

/ .

^= lg

of{t

cg'bfg

/ lgof{td

f shf{

nufgLs

f of]h

gfx?

nfO{ k'g

M Joj

l:yt

u/ .

&= lj

QLo

Joj:

yfkg

;"rgf k

|0ffnL

leq

gubs

f]if P

sn

vftf -

6LP;

P_ k

|0ffnL

lj:t

fl/t

u/ .

*= a

h]6

:jLs

[t x'g

'eGbf k

lxn]

g} ;+e

fJotf c

Woog

, sfo{of]hgf /

vl/b

;DjGwL s

fuhftx?

nfO{ cu

|Ld

:jLs

[lt u

/fpg]

u/ .

(= c

fof]h

gf n

futs

f nflu

/fli6«o

;+lxtf

/ b/

/]6 ls

6fg

u/ .

clxn] ;

/sf/L / lghL nuf

gLnfO{ P

sgf;n]

/f]sL /x

]sf d'V

o c8\r

gx?d

f Wo

fg s

]lGb|t

u/]/

g]kfn

sf] hnljB't

;De

fJotf

sf] 9f]sf vf]n

.

o;sf nflu

, ;De

f/df

yk

Wofg lb

g'sf ;fy

} sfof{Gj

og lg

sfox?

aLr ;

dGjo

/ o

ftfoft

k"j

f{wf/df

x'g]

vr{sf] k|e

fjsf/Lt

fnfO{ a

9fP/

Pj

d\ ?k

fGt/s

f/L cfof]h

gfx?

df Wofg

a9L

s]lGb

|t u/

]/ g]k

fnle

q} / l5

d]sLx?;

Fu ;Dk

s{

;~h

fn lj

:tf/ u

/ .

u|fdL

0f v

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