Lujj Phrks & Cag`eteags al bcchss bg` ush cbg oh laug` btmttps4//www.tbg`lagjegh.cak/bcteag/daurgbjEglarkbteag1daurgbjCa`h;thgt?>
Hgveragkhgtbj Phcmgajaiy
ESSG4 >585-333> (^regt) 2095-0=9] (Agjegh) Daurgbj makhpbih4 mttps4//www.tbg`lagjegh.cak/jae/thgt?>
Bga`ec axe`bteag al thxtejh wbsthwbthrs ag oarag-`aph` `ebkag` hjhctra`hs
GaurHjMau`b Bo`hssbkb`, Mbghgh Bfraut & Jbtelb Oausshjke
Pa ceth tmes brtecjh4
GaurHjMau`b Bo`hssbkb`, Mbghgh Bfraut & Jbtelb Oausshjke (?>28) Bga`ecaxe`bteag al thxtejh wbsthwbthrs ag oarag-`aph` `ebkag` hjhctra`hs, Hgveragkhgtbj Phcmgajaiy,3<4?0, 3?>2-3?>5, @AE4 2>.2>=>/>585333>.?>28.2>8<?38
Pa jegf ta tmes brtecjh4
mttps4//`ae.ari/2>.2>=>/>585333>.?>28.2>8<?38
^uojesmh` agjegh4 29 Dug ?>28.Suoket yaur brtecjh ta tmes daurgbj Brtecjh vehws4 ?30\ehw rhjbth` brtecjhs \ehw Crasskbrf `btbCetegi brtecjhs4 0 \ehw cetegi brtecjhs
Hgveragkhgtbj Phcmgajaiy
, ?>28\aj.3<, Ga.?0, 3?>2–3?>5, mttp4
//
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Bga`ec axe`bteag al thxtejh wbsthwbthrs ag oarag-`aph` `ebkag` hjhctra`hs
Jboarbtary al Ybsthwbthr Prhbtkhgt, Chgtrh al Ybthr _hshbrcm bg` Phcmgajaiehs (CH_PH), HcmapbrfOardCh`reb O.^. ?93, =>?>Sajekbg, Pugeseb
(
_hchevh` 2= Dbgubry ?>286 bcchpth` ?8 Kby ?>28
)Pmh aodhctevh al tmes stu`y es ta egvhsteibth tmh pathgtebj bppjecbteag al tmh bga`ec axe`bteag (BA) ag twa hjhctrajytecchjjs (kagapajbr (Chjj 2) bg` oepajbr (Chjj ?)) cagtbegegi oarag-`aph` `ebkag` hjhctra`hs ag tmh trhbtkhgt al rhbj thxtejhhffuhgts ta stu`y tmh rhush passeoejety al trhbth` wbsthwbthr eg tmh thxtejh eg`ustry prachss. BA es bppjeh` eg tmh accujbteagcabiujbteag prhtrhbtkhgt al oatm upstrhbk (OM) bg` `awgstrhbk (OS) hffuhgts. Pmh cmhkecbj axyihg `hkbg` (CA@)rhsujts smaw tmbt tmh flgbj CA@ rhkavbj aotbegh` lar tmh OM hffuhgt eg tmh cbsh al Chjj 2 bg` Chjj ? es =>> bg` 28> kiA
?
J
∟
2
blthr 8 bg` < m al hjhctrajyses, rhsphctevhjy. Pmh trhbtkhgts al tmh OS hffuhgt bjjaw lar aotbegegi b flgbj CA@ al 9< ki J
∟
2
lar Chjj 2 bg` b tatbj keghrbjezbteag lar Chjj ?. Pmh aotbegh` rhsujts `hkagstrbth tmbt tmh bppbrhgt keghrbjezbteagfeghtecs al oatm hffuhgts wmhg usegi Chjj ? brh boaut laur tekhs lbsthr tmbg tmh agh aotbegh` oy Chjj 2 bg` meimjeimt tmhekpartbgt cagtreouteag al tmh oepajbr chjj. Ohse`hs, tmh hghriy cagsukpteag vbjuhs smaw tmbt tmh trhbtkhgt al tmh OM hffuhgt oy Chjj 2 cagsukhs =<8 fYm fi CA@
∟
2
bibegst 022 fYm fi CA@
∟
2
oy Chjj ?. Pmhrhlarh, tmh ush al Chjj ? `hcrhbshs tmhhghriy cast oy ?.2–<.<8 tekhs wmhg cakpbrh` ta Chjj 2 eg tmh cbsh al tmh OM bg` OS hffuhgt trhbtkhgt, rhsphctevhjy.
Fhywar`s4
bga`ec axe`bteag6 O@@ oepajbr hjhctra`h6 thxtejh hffuhgt6 currhgt hfficehgcy6 hghriy cagsukpteag6 hjhctrecbjhghriy phr ar`hr
2. Egtra`ucteag
Pmh thxtejh eg`ustry es agh al tmh jhb`egi hcagakec shctarseg kbgy caugtrehs bjj avhr tmh warj`. Mawhvhr, et pra`uchs,`uregi tmh wbsmegi bg` `yhegi prachsshs, jbrih qubgtetehsal wbsthwbthr wmecm cagtbeg meim jhvhjs al aribgec bg` egaribgec suostbgchs.V2,?[ Pmhsh suostbgchs brh `hrevh`
lrak `yhs, rhbihgts, sbjts bg` surlbctbgts.V3[ Pypecbjjy,tmh `yhegi prachss al 2 fi al cattag lborec rhquerhs 28>J al wbthr, >.< fi al sbjts bg` >.>0 fi al `yhs, bs whjjbs vbreaus egaribgec suostbgchs (e.h. GbAM, M
?
A
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, htc.)bg` buxejebry aribgec cmhkecbjs (e.h. `hthrihgts, salthgegi,`esphrsegi bg` flxegi bihgts) brh bjsa egvajvh`.V0,8[ B``e-
teagbjjy, `uregi tmh `yhegi prachss, boaut ?>–?8% al tmhegetebj `yh cagthgt es gat flxh` ag tmh lborecs bg` hg`s up egtmh eg`ustrebj hffuhgts.V<[Pmhrhlarh, thxtejh wbsthwbthr es cmbrbcthrezh` oy bstragi cajaur, b orab`jy uctubtegi pM, b meim cmhkecbjaxyihg `hkbg` (CA@) bg` ekpartbgtjy oea-taxecety.V9,=[
@hphg`egi ag tmh `yh ush`, tmh essuh` hffuhgts cauj` rhb-sag tmh rhchevegi hgveragkhgt―s cajaurbteag, bg` mbvh btaxec hhct ag tmh jevegi aribgesks. Ohse`hs, tmhy bhctb`vhrshjy tmh hcasysthk bg` rh`uch tmh bssekejbtevh cbpbc-ety al tmh hgveragkhgt.Ohcbushaltmhshrhbsags,thxtejhwbsthwbthrsghh`taohtrhbth`egar`hrtakhhttmh`escmbriegistbg`br`swmecmbrh ohcakegiegcrhbsegijykarhstrect.Pmus,suetbojhtrhbtkhgt
*Carrhspag`egi butmar. Hkbejs4 jbtelb.oausshjkeNchrth.rgrt.tg6 oausshjkekNybmaa.lr
thcmgajaiehs al thxtejh hffuhgts, sucm bs cabiujbteag– accujbteag ag b oeajaiecbj prachss, brh `hvhjaph` tarh`uch bg` rhkavh tmher cajaur bg` taxecety.Karhavhr, eg bre` bg` shke-bre` caugtrehs, tmh wbthr rhsaurchs brh fgawg lar tmher scbrcety bg` pragaugch` errhiujbrety. Cagshquhgtjy, tmh trhbtkhgt thcmgajaiy escmashg bccar`egi ta tmh hgveragkhgtbj prhshrvbteag bg` pathgtebj rhcycjegi passeoejetehs al trhbth` wbsthwbthr.Eg tmes cagthxt, hjhctracmhkecbj thcmgajaiehs mbvhbttrbcth` irhbt egthrhst bs bg hca-lrehg`jy bg` hfficehgtkhtma` lar tmh rhkavbj al vbreaus pajjutbgts.V5,2>[
Ohse`hs, tmhy ahr hhctevh khbgs ta sajvh hgveragkhg-tbj essuhs rhjbth` ta tmh eg`ustrebj prachsshs.V22,2?[ B we`h
vbrehty al hjhctra`h kbthrebjs mbvh ohhg suiihsth`, sucm bsirbpmeth, pjbteguk, ErA
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, _uA
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, SgA
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, ^oA
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, Pe/^t, Pe/^t– Er, Pe/^oA
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, Pe/^`A–Ca
A
0
, Pe/_mA
x
–PeA
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es rhjbth` ta b seigeflcbgt rbthbg` hfficehgcy oy usegi agjy meim axyihg hvajuteag avhr pathgtebj bga`hs sucm bs oarag-`aph` `ebkag` (O@@)hjhctra`h .V20,28[ Xsegi tmhsh bga`hs, bt b meim pathgtebj,
meimjy rhbctevh
¹
AM brh ihghrbth` ag tmh surlbch oy wbthr `escmbrih, wmecm jhb`s ta bg avhrbjj cakousteag al aribgeccakpaug`s. Pmhsh cagtbkegbgts keimt bjsa oh axe`ezh` oy atmhr axe`bgts, sucm bs phraxasujpmbth S
?
A
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∟
=
, bctevhcmjaregh (Cj
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, MCjA bg` CjA
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), wmecm `hphg`s ag tmh pM
© ?>28 Pbyjar & Lrbgces
3?>?
G. Bo`hssbkb`
ht bj.
Leiurh 2. Pmh thxtejh eg`ustry prachss.
kh`euk, bg` phraxapmaspmbth ^
?
A
0
∟
=
.V2<[ Pmh b``eteag al sbjts `uregi tmh thxtejh prachsshs lbvaurs tmh bcteag al sucmaxe`bgts `uregi tmh hjhctracmhkecbj axe`bteag.V22,20,2<[
Mawhvhr, atmhr sbjts sucm bs CA
?
∟
3
cauj` egmeoet tmh MA
¹
rhbcteag.V2<[
Pmbgfs ta tmher praphrtehs, O@@ mbs ohhg jbrihjy ush` lar tmh hjhctracmhkecbj `hirb`bteag al aribgec pajjutbgtssucm bs pmhgaj,V29,2=[ cbroaxyjec bce`, ?-gbpmtaj,V20[
oespmhgaj,V25[ ohgzaec bce` V?>[ bg` kbgy atmhr vbrehtehs
al `yhs (arbgih EE,V?2,??[ Hrecmrakh Ojbcf P V?3[ bg`
Bjezbreg S V?0,?8[). Bjsa, O@@ hjhctra`hs brh egvhsteibth`
bs cbtma`hs lar tmh hjekegbteag al getrbths, getreths bg` bkkageb.V?<[ Mawhvhr, lhw rhparts mbvh lacush` ag tmh
trhbtkhgt al rhbj hffuhgts cagtbegegi cakpjhx kbtrexhs al aribgec bg` egaribgec pajjutbgts.V3,0,?9[
^bgezzb bg` Chresajb V?9[ mbvh `hkagstrbth` tmh phr-
larkbgch al tmh O@@ bga`hs bibegst ^oA
?
ag tmh trhbt-khgt al b rhbj hffuhgt cajjhcth` lrak b wbsmegi stbteag.Pmh prachssegi tekh ta bcmehvh tatbj keghrbjezbteag wbs 3m ag O@@ wmecm es smarthr tmbg tmh < m trhbtkhgt bcmehvh` ag ^oA
?
wetm b rhkbrfbojh hfficehgcy bg` bg hghriy cag-sukpteag (HC) sbvegi (398 fYm k
3
ag O@@ bg` 99> fYmk
3
ag ^oA
?
). Atmhr stu`ehs V3[ mbvh hvbjubth` tmh egu-hgch al vbreaus prachss pbrbkhthrs sucm bs tmh bppjeh` currhgt `hgsety, tmh hjhctrajyth cagchgtrbteag, tmh thkphr-bturh bg` pM jhvhjs `uregi tmh trhbtkhgt al sygtmhtec bg` rhbj thxtejh hffuhgts usegi O@@ bga`hs. Pmh rhsujts smaw bcakpjhth `escajaurbteag bg` b keghrbjezbteag hfficehgcy al =8%, wmecm mbvh ohhg bcmehvh` blthr b trhbtkhgt lar 2=>keg.Eg tmh prhshgt stu`y, tmh bga`ec axe`bteag (BA) al rhbj thxtejh hffuhgt es egvhsteibth`, lar rhcycjegi purpashs, ohlarh bg` blthr tmh cabiujbteag–accujbteag prhtrhbtkhgt prachss usegi kagapajbr (O@@ bga`hs) bg` oepajbr (O@@bga`hs bg` cbtma`hs) hjhctra`hs lar cakpbresag bg` tarhbcm tmh purpash al rhush.B gukohr al ekpartbgt lbctars sucm bs tmh trhbtkhgtcast bg` tmh hffuhgt qubjety pjby bg ekpartbgt rajh eg tmhshjhcteag al b wbsthwbthr trhbtkhgt thcmgajaiy. Mhgch,hjhctrecbj bg` hghrihtec cast `hthrkegbteags ohcakh bgekpartbgt sthp eg tmh stu`eh` prachsshs, hsphcebjjy tmbt tmhBA es bg hjhctrec-hghriy-egthgsevh prachss.
?. Kbthrebjs bg` khtma`s
?.2. Hffuhgts cmbrbcthrezbteag
Phxtejh hffuhgts brh cajjhcth` lrak b thxtejh `yhegi ugetjacbth` eg tmh whst al Puges (Pugeseb) (Leiurh 2). Pmh
rbw `yhegi hffuhgt es prhtrhbth` oy tmh cabiujbteag– accujbteag prachss ohlarh ohegi `escmbrih` eg tmh shwbihsysthk.Pmhhffuhgtesflrstcajjhcth`egtmhmakaihgezbteag obseg (OM) eg ar`hr ta mbvh bg bvhrbih wbsthwbthr qubj-ety eg tmh prhtrhbtkhgt pjbgt egjht. Blthr tmh prhtrhbtkhgt,tmh wbsthwbthr es bjsa starh` eg b obseg (OS) ta bjjaw bgycarrhctevh bcteag, sucm bs pM carrhcteag ohlarh tmher `es-cmbrih. Pmh twa wbsthwbthr qubjetehs brh tbrihth` eg tmes pbphr eg ar`hr ta stu`y tmh b``eteagbj egput al bg axe`bteag prachss ta tmh upstrhbk ar `awgstrhbk al tmh cabiujbteag– accujbteag prhtrhbtkhgt prachss eg ar`hr ta rhcycjh tmhtrhbth` wbsthwbthr. Pmh lbctary thbk cbrreh` aut tmh prh-trhbtkhgt aptekezbteag bg` tmh prachss wbs ruggegi bt etsmeimhst hfficehgcy.Pmh pmyseca-cmhkecbj cmbrbcthrestecs al tmh twa rhbjwbsthwbthrs sbkpjh` lrak tmh OM bg` tmh starbih obseg(OS) bs whjj bs tmh jeket `escmbriegi vbjuhs eg tmh shwbihsysthk (Pugesebg stbg`br`s) brh ievhg eg Pbojh 2.Pmh pajjutbgt pbrbkhthrs bgbjysh` lar tmh trhbtkhgthvbjubteag brh cajaur, cmhkecbj axyihg `hkbg` (CA@)bg` bgeags cagchgtrbteags (Cj
∟
, SA
?
∟
0
bg` GA
∟
3
), wmecmcbg mbvh bg hhct ag tmh BA.Pmh cajaur es bssbyh` usegi b X\–veseojh sphc-trapmatakhthr (Pmhrkasphctragec X\2). CA@ es khbsurh` bccar`egi ta tmh cjash` rhux cajarekhtrec khtma`, bs`hscreoh` eg tmh Stbg`br` Khtma`s V?=[ bg` eag cagchg-trbteags brh `hthrkegh` oy tmh eag cmrakbtairbpmy usegi bKhtramk eag cmrakbtairbpmy systhk fltth` wetm bg bgeag-hxcmbgih cajukg (BS0B-SC, 28> kk
Ù
0 kk) bg` cau- pjh` wetm b cag`uctevety `hthctar ug`hr tmh cagtraj al bg EC GHP saltwbrh.
?.?. Hjhctrajyses chjj
Bjj hjhctrajyshs brh cag`ucth` eg twa typhs al @ebChjj sup- pjeh` oy B`bkbgt Phcmgajaiehs eg ar`hr ta aptekezh tmher phrlarkbgchs bg` casts (Leiurh ?).
Hgveragkhgtbj Phcmgajaiy
3?>3
Pbojh 2. ^myseca-cmhkecbj cmbrbcthrestecs al tmh OM bg` OS hffuhgts, bvhrbih bg` stbg`br`s vbjuhs.Makaihgezbteag Starbih Hfficehgcy GP stbg`br`s – obseg (OM) obseg (OS) (%) shwhr systhk pM 9.03 9.<5 – <.8–5.>Cag`uctevety (kS ck
∟
2
) 9.<0 ?.=0 <3 – CA@ (ki J
∟
2
) 283= 095 <5 2>>>SS (ki J
∟
2
) 3? 2=.= 02 0>>Cj
∟
(ki J
∟
2
) 29> 0? 98 9>>SA
?
∟
0
(ki J
∟
2
) 25 22 0? 0>> GA
3
∟
(ki J
∟
2
) G@ G@
b
G@
b
5> G@, gat `hthcth`.
(b)(o) (c)
Leiurh ?. (b) Hxphrekhgtbj shtup4 (2) rhshrvaer, (?) hjhctracmhkecbj chjj, (3) pawhr suppjy bg` (0) phrestbjtec pukp, (o) Chjj 2 bg` (c)Chjj ?.
Chjj 2
(kege `ebchjj ^S 8>>)4 Et es b segijh cakpbrtkhgtwetm pbrbjjhj pjbth hjhctra`hs. Pmh bga`h es b kagapajbr-p-sejecag cavhrh` oy b O@@ tmeg fljk (?–3 ¸k tmecf) wetm b2?.8 ck
?
rhctbgiujbr surlbch bg` tmh cbtma`h es b stbegjhsssthhj. Pmh egthr-hjhctra`h ibp es boaut 3 kk.
Chjj ?4
Et cagtbegs tmrhh cakpbrtkhgts bg` laur hjhc-tra`hs4 twa oepajbr hjhctra`hs brh cabth` wetm Se/O@@ ag oatm se`hs bg` pjbch` ohtwhhg twa kagapajbr hjhctra`hs.Pmh bctevh surlbch es 9> ck
?
phr cakpbrtkhgt bg` tmhegthr-hjhctra`h ibp es 2 kk.
?.3. Hxphrekhgtbj prach`urh
Hxphrekhgts brh cbrreh` aut ug`hr tmh ibjvbgastbtec ka`h.@uregi hbcm trebj, tmh hffuhgt es starh` eg b ijbss tbgf (2 J) bg` cagteguausjy rhcercujbth` tmrauim tmh hjhc-trajytec chjj oy b phrestbjtec pukp bt tmh gbturbj pM al tmh wbsthwbthrs (Pbojh 2) bg` ug`hr b currhgt `hgsety al
0> kB ck
∟
?
.
?.0. Bgbjytec prach`urh
?.0.2. Bvhrbih currhgt hfficehgcy, hghriy cagsukpteagbg` hjhctrecbj hghriy phr ar`hr
Pmh bvhrbih currhgt hfficehgcy (BCH) al tmh hffuhgt axe-`bteag es cbjcujbth` usegi tmh CA@ vbjuhs (eg i J
∟
2
(
%
)
;
((
CA@
)
>
∟
(
CA@
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t
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=
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t
es tmh hjhctrajyses tekh (s), bg` CA@
>
bg` CA@
t
brh tmh egetebj CA@ bg` tmh aotbegh` CA@ blthr b chrtbegtekh
t
, rhsphctevhjy.
E
es tmh bppjeh` currhgt (B),
L
es tmh