Compact Review and Budget Meeting – November 2015

The management team along with the Regional Managers and other relevant senior officials of the company met in the head office for 2016 budget meeting from 18 – 20, November 2015.

Simultaneously, the progress achieved for 2015 compact targets were also reviewed.

The Chief Executive Officer (CEO) welcomed the participants and highlighted the importance of this meeting for all to know about the company's plan of action for now and in the coming years. He reminded about the important mandate of the company in terms of meeting the demand for natural resources like timber, sand, stones and stone aggregates. Apart from budget discussion, the performance of the company has to be known by all and is really important to be serious and follow with due diligence, remarked the CEO. He cautioned that we should not underestimate the target and shy away from meeting the performances. If this is not agreeable, we need to work out other alternatives like cost control.

As a company bestowed with huge mandate, it is in the interest of the management and staff to make NRDCL an exemplary company through the cooperation of all employees and urged everyone to refrain from unnecessary indulgence in unproductive, unethical activities. The CEO remarked that market did not improve at all and performance was badly affected due to operational costs mainly for the stone crushing plants. Certain cases of mismanagement and corruption erupted and appropriate corrective measures were needed and taken, accordingly. The repercussions from 2013-2014 shifted to 2015. The year 2016 should be a year of resurgence and stressed that all employees must attempt to build professionalism, entrepreneurship and become corruption free at all levels.

Despite the efforts taken by the management and constant inputs from the staff, the 3rd quarter target is not so impressive and has to do more. The CEO also informed that with the closing of two 100 TPH quarry tied stone crushing plants, the fund flow position has slightly improved.

It was also informed that the management is ever ready to come up with appropriate reward and acknowledgement schemes for those deserving staff and at the same time, non performers would be dealt accordingly including exit options. The CEO reminded that the company must sustain its operations through internal operations through proper business plan and improve the way we work through professional inputs. All employees must work towards achieving the target rather than complaining all the time. The company could increase the revised pay despite it dismal financial performance when some other companies could not do so. All employees must think that they are doing a unique job and remain motivated. Right norms and discipline has to be set in for the company. Performance complacency, indifferent attitude and refusal to change must be removed. Some mismanagement in development works and revenue leakages has resulted in court cases.

metting 2015

The meeting in progress

The CEO also highlighted the new initiatives taken by the management like saw milling, glulam, handing taking over of the established plantations to the DoFPS, procurement of cable crane winch, staff development in forestry resources etc.

In addition to the three common A’s, (Availability, Accessibility and Affordability), the CEO went on adding two more A’s (Acceptability and After Sales Service) to be considered as important. The NRDCL is an unique company and must live up to the mandate of dealing with natural resources in the service of the people and nation building, ultimately.

The note from the CEO was followed by budget discussion which was introduced and moderated by General Manager of Finance Division. The  budget proposal for year 2016 was discussed in great detail and physical and financial targets were assigned and agreed upon.

The meeting concluded on a successful note with the CEO thanking all the participants for the valuable inputs in arriving at a highly realistic and implementable plan of activities and budget for the year 2016. He urged all the participants to take serious note of the discussions and communicate the decisions, plans and policies of the company to all employees down the line for bridging the communications gap.