State to gain more than Rs 4 billion from Gokarna Forest Resort lease agreement: Nepal Trust

Published On: December 27, 2019 06:30 PM NPT By: RSS

Kathmandu, Dec 27: The state would get around Rs 4.32 billion benefit directly and indirectly from the agreement to extend the term of lease agreement of Gorkarna Forest Resort, according to the Office of the Nepal Trust. The lease term of the agreement was extended for an additional 25 years by the cabinet's decision held on December 9 based on the legal provision that new agreement can be signed before the termination of the old agreement.

Organizing a press conference here today, the Office said that the agreement was renewed after LM Subhir Brothers Nepal Pvt Ltd started constructing new physical infrastructures to operate other services in the Gorkarna Forest Resort premises. As per the Nepal Trust Act-2064 (First amendment-2075), Article 5 (3 Kha), lease agreement can be extended if additional financial benefit is guaranteed to the Trust after the side utilizing the property wanted to operate existing structures by carrying out repair and maintenance increasing its capital.

 On the occasion, Executive Secretary of the Trust, Gajendra Thakur, said that the lease agreement would come into implementation as the government decided to extend the extend the lease agreement term for the next 25 years, where the rent price would be increased every five years by determining the real market value. The state would get around NRs 4.32 billion benefit in direct and indirect way after the renewal of the lease agreement, he added.

Earlier on Thursday, Trust Chairperson and Deputy Prime Minister, Ishwor Pokharel, made it clear about the issues raised regarding expanding lease agreement term of Gorkarna Forest Resort at the National Assembly meeting.

Leave A Comment