Mid Term Review Meeting 2014

The senior officials of NRDCL and the Regional Managers from eight Regions across the country assembled in the head office on 11th and 12th of September 2014 for Mid Term Review Meeting.This meeting was convened to discuss and assess the progress on various activities targeted for 2014.

The General Manager, (Operations Division) chaired the session on the first day as the Chief Executive Officer had to attend the steering committee meeting for Wangduephodrang Dzong Reconstruction Project in Wangduephodrang at the last hour. The Chairman welcomed the participants and reminded them on the importance of the meeting in terms of assessing the actual work progress for 2014. He urged all the members to actively participate and make the meeting a productive one. Some of the highlights of the meeting on the first day are as follows;

The first day saw presentations and discussions on the departmental forests road construction modalities, lops and tops extraction and disposal guidelines, timeline for report submissions, organizational climate, performance management system, repair and maintenance of machineries and equipment, issues related to production and disposals of timber, stones, sand etc.

meeting pic

All eyes focussed on presentation

The Chief Executive Officer chaired the meeting on the second day. The Chairman reminded the meeting on the low demand for some of the resources like stone chips and timber resulting is cash flow problem for the company. He also shared interventions and plans of the management to improve the extraction and sale of timber, sand and stones including diversifications and value addition options. The Chairman urged every member to be serious on the deliberations and come up with concrete measures to improve the overall performance by the end of the year as per the compact signed with the management. He stressed the important mandate of the company in terms of meeting the demand for natural resources like timber, sand, stones, stone aggregates and presence of senior managers is important for better decision making.

It was also informed that the management is serious about the performance management system (PMS) from 2014. The Chairman informed the meeting that once the guidelines on the PMS are finalized, the necessary pay-out in the form of bonus and performance based variable allowances will be different across divisions, regions and individuals. Corporate culture has to be adopted and followed and differential pay-out will be the guiding factor and no division, region should feel bad for any such differentials, if any.

In view of the ongoing hard times for the company, the Chairman informed the meeting on how the company is trying its best to dispose the stock and also the follow up actions with the DHI on some assistance like equity injection. He also reminded that attempts should be made to make use of the resources in the internal market and as far as possible export of the scarce resources should be discouraged in line with the policy of the government. The Chairman also highlighted that services has to be rendered as per the mandates and marketing has to be revamped from all the regions immediately in order to improve the financial position of the company.

The second day of the meeting featured presentations from the Regions on the progress of activities followed by challenges and necessary interventions. The highlight of the presentations is that timber disposal is picking up except for very old stock. Sand supply has become an issue and the market for stone chips is a big challenge. The Chairman reminded the meeting that stone crushing activity has been a stumbling block where the investment is huge including the recurrent expenditures. The management is hopeful that the Accelerated Stones & Mines Projects (ASMP) will be able to come up with an appropriate strategy and streamline the overall stone crushing venture with short and long term plans in place. He reminded the meeting on the possibility of relocation of some of the poorly performing plants and slowdown of activities in plants with severe problem in production and disposal fronts. The final presentation from the General Manager, Finance Division was an alarming one for everyone in view of the bad financial position of the company.

At the end of the two day long deliberations, the Chairman thanked all the participants for the hard work put in and urged them to continue the good work which will be gauged from the final compact delivery.

The Chairman reminded everyone present to strengthen austerity measures. It can be in the use of pool vehicles, travels, repair and maintenance of machineries etc. ‘Whatever is saved now will make a huge difference for the company’, remarked the Chairman. The Chairman expects everyone to face the challenges together whole heartedly and wished all the participants good luck. Effective marketing, cost control, drive to work hard were some of the prime highlights of the meeting.