NEA's matured loan crosses Rs 63 billion mark

Published On: April 16, 2023 03:30 PM NPT By: Republica  | @RepublicaNepal

KATHMANDU, April 16: Nepal Electricity Authority (NEA), a state-owned utility, has matured loans of 63.7 billion rupees. The NEA has taken loans through the government to build various hydropower projects.

According to the Office of the Auditor General (OAG), the said amount was added including the principal and interest of the loans taken by the NEA. Similarly, the matured loan of Nepal Water Supply Corporation and its interest has reached 7.58 billion rupees.

Similarly, the matured loan of Kathmandu Valley Water Supply Management Board has reached Rs 5.76 billion, Janakpur Cigarette Factory Limited Rs 3.88 billion, Udayapur Cement Industry Rs 3.6 billion , and Biratnagar Jute MillsRs 2.8 billion.

The capital interest arrears of only half a dozen public institutions have increased to 85.46 billion rupees. As many as 80 public institutions have matured principal and interest arrears. However, since the details of principal and interest of the arrears have not been updated, it is not possible to ascertain the matured principal and interest arrears, according to OGA.

The OGA has pointed out that small agricultural development bank and agricultural development banks, which are earning good profits, are yet to pay interest on capital.

Similarly, Nepal Orient Magnesite, Gorakhkali Rubber Industry, Raghupati Jute Mills, Janakpur Cigarette Factory and Nepal Transport Institute’s matured principal has reached Rs 4.15 billion and matured interest Rs 4.17 billion. 


Leave A Comment