Organizing a press conference at the NA Headquarters on Thursday, Brigadier General and Director of Directorate of Welfare Planning, Dhani Das Karki said, "We have still to recover over Rs 288 million in non-performing deposits, and we are putting in our best efforts to recover the sum."
According to Brig Gen Karki, the army has to recover Rs 179 million, Rs 57 million, Rs 40 million, Rs 1 million and Rs 1.2 million respectively from Capital Development Bank of Chitwan, United Development Bank, Nepal Share Market and Finance Limited, Samjhana Finance Limited and Himalayan Finance Limited. [break]
"Here we are only talking about the principal amount to be recovered, but if we calculate the interest then the amount will be much higher," he added.
Initially the NA had more than Rs 820 million at risk, but gradually the army recovered a part of the fund, by attaching the assets of some debtor banks and financial institutions. The army´s non-performing deposits now stand at Rs 288 million.
NA welfare fund has Rs 25.23 billion, including bank deposits, investments, and the prime source of the fund is the income from the UN peacekeeping missions. The other sources of income are interest on deposits at various banks, amounts collected from students, staff´s residence rent, Mission Subsistence Allowance (MSA), foreign currency exchange premium, petrol pumps and hospitals operated by the NA.
Outgoing NA spokesperson Brig General Suresh Sharma informed that the army has come up with several other plans according to the six-point visionary plan and Command Guidance issued by Chief of Army Staff Gaurav Shumsher JBR.
In the current fiscal year, the NA has planned to review the ongoing programs and explore new resources, establish Army Welfare Board, operate a hospital for the veterans, set up vocational training institute and a college of medical polytechnic to enhance the quality of education across the country.
Likewise, the NA has also plan to increase investment to install a drinking water plant at Sundharijal, Ripumardini Oxygen Plant at Chhauni, and to expedite study to establish a plant for producing water gel, which is used in making explosives for development and construction purposes.
"Every year a huge amount of money is spent to buy explosives from overseas but once we become able to set up a water gel in Nepal then we can save a lot of money," according to General Surya Khanal.
At the function, Brig Gen Sharma also briefed about the efforts being made to modernize the army, improve the military administration and diplomacy.
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