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Published On: July 30, 2024 04:31 PM NPT By: Republica

Govt to collect internal debt of Rs 10 billion, issues 11-year development bond

Govt to collect internal debt of Rs 10 billion, issues 11-year development bond

KATHMANDU, July 30: The government has decided to collect an internal debt of Rs 10 billion. The Public Debt Management Office (PDMO) has issued an 11-year development bond 2035, on Tuesday.

The PDMO has issued a notice to open the sale of development bond 2035, through bids on July 31, 2024. Banks and financial institutions, organized institutions and Nepali citizens interested in purchasing this bond can submit their application.

According to the PDMO, the interest rate will be determined through the bid. This bond can be received and given by issuing a mortgage. An auction regarding this bond will take place on July 31 at 10 AM to 3PM. The principal repayment for this bond is scheduled to be completed by 2nd August, 2035. The PDMO said that the interest payment will be made half-yearly and income tax will be levied on it. 

 

 








 

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