KATHMANDU, Nov 25: The fourth Annual General Meeting (AGM) of Nepal Republic Media (NRM) Limited concluded in Kathmandu on Monday. Nepal's first publicly listed media company, NRM, operates media outlets, including its flagship publications Nagarik Daily and Republica English Daily and news portals nagarikNews.com and myrepublica.com.
Speakers at the AGM expressed the company's commitment to providing quality journalism by being accountable to the public. They affirmed their dedication to reliable and transparent journalism using modern technology.
In his address to the AGM, Chairman Binod Raj Gyawali said that NRM has been working responsibly for the citizens. He said that the company has always followed the latest thinking and developing technology while maintaining professional journalism. "We have been operating the media in accordance with the guidelines of reliability and transparency," Gyawali said, "We have always believed that in the field of Nepali journalism, publications and media outlets should respect the changing tastes of their readers and audiences and deliver content as per their wishes."
Chairman Gyawali also mentioned that the company’s commercial and economic activities in the fiscal year 2023/24 are on the path to improvement. "Despite various challenges, we have succeeded in achieving commercial and economic achievements," Gyawali said, "We are fully committed to making the board of directors more transparent as per the vision and needs of the shareholders." He emphasized the importance of support and suggestions from all shareholders to elevate the media. Gyawali also urged shareholders to extend support to the company from their respective positions. The 400,000 shareholders can support in a variety of ways, including advertising and promoting subscriptions. He expressed his commitment to distribute profits to shareholders within three years.
Taking investigative journalism to new heights
According to the company’s financial statement for the fiscal year 2023/24, operating expenses have decreased by 27.32 percent as compared to that of the previous year. Distribution expenses dropped by 34.74 percent, while interest and financial expenses have been reduced by 40.58 percent. The company stated that its net profit has increased by 100 percent compared to the last fiscal year.
At the general meeting, NRM Director Shova Gyawali said that the NRM has been working to extend the people’s right to information at the international level. She emphasized playing a leading role in disseminating truthful information.
"We have been making all print and online media technology-friendly with the aim of making them aligned with international standards," said Director Gyawali, "We want to express our confidence that the NRM and its media outlets will continue to progress in the coming days."
Director Gyawali also noted that hundreds of thousands of Nepali citizens have become shareholders of NRM and that has inspired the Board of Directors to work keeping the shareholders interest in the heart. She expressed the opinion that the issues raised by NRM shareholders have succeeded in changing policy-making at higher levels.
During the program, Managing Director (MD) Sambridhi Gyawali stated that NRM’s publications have continued to provide quality journalism. She emphasized the importance of preparing content targeting the youth below the age of 35. MD Gyawali also stated that NRM aims to empower the public by disseminating information and knowledge that will enable them to make informed decisions in an era of borderless access due to the digital transformation in the Nepali media.
She said that NRM has launched its paywall and the online subscription system is advancing toward increasing digital access globally. By subscribing to Republica digitally, readers will gain full access to the international edition of the world renowned The New York Times at an affordable price.
MD Gyawali further said that the media company will advocate for attracting foreign investment for the country's economic prosperity and mobilizing climate funds.
At the program, Director Pradeep Mishra said that he is aware of the issues raised by shareholders and will continue to discuss them. Shareholders had given various suggestions during the program.
The AGM passed the annual report presented by Chairman Gyawali. The program was conducted by Anjan Kumar Dahal, Director of Nepal Republic Media, and the Company Secretary of NRM Madan Aryal.
