KATHMANDU, Dec 17: Contractors have complained that they face the risk of being blacklisted as the government failed to release their payments while the extended deadline to pay their bank loans ended on Sunday.
Speaking at a program, Finance Minister Bishnu Prasad Paudel last week promised to clear contractors’ dues in the following week. However, the government could not keep its promise this time too.
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According to the contractors, the government has paid only Rs 15 billion out of the total dues of Rs 45 billion. Earlier, the government had promised the contractors to settle their payments by mid-October this year.
Rabi Singh, president of the Federation of Contractors’ Associations of Nepal, said they could not get the payment within the new deadline promised by the government. “As the extended deadline to pay off the bank loans has also ended, it has risked the contractors falling in problem,” said Singh.
Through the monetary policy for the current fiscal year, Nepal Rastra Bank had extended the deadline for paying the principal and interest on loans to the construction entrepreneurs till mid-December.
