KATHMANDU, Sept 20: The Pashupati Area Development Trust (PADT) has scrapped the contract of parking space lease inside the Pashupati area. 

The contract was annulled after Tatwo Investment Pvt Ltd, which had got the responsibility of parking management at Pashupati area, could not carry out its works and pay the dues on time as per the agreement. 

PADT Executive Director Dr Ghanshyam Khatiwada told RSS that the Trust revoked the agreement of parking lot and it was taken over by the PADT from Tuesday itself. 

Tatwo Investment Pvt Ltd has to pay more than four million rupees to PADT.  A board meeting of the PADT held on September 7 had decided to revoke the agreement with the company, shared Khatiwada.  

"We have taken the responsibility of parking space from today (Tuesday). There will be free parking until the next tender," he mentioned. As per the agreement Tatwo Investment Pvt Ltd had to pay Rs 346,000 monthly for taking parking space inside Pashupati area on lease. 

Although a five-year agreement was reached between PADT and the company for parking management, it was canceled within two and half-years. 

The PADT had signed a contract with the company determining the parking charge of Rs 10 per hour for two-wheelers and Rs 25 per hour for four-wheelers, but it is alleged that the company was found charging more than the determined charge. 

The Revenue Investigation Bureau has been carrying out an investigation on this matter, according to PADT.

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