By A Staff Reporter
Kathmandu, Dec. 24: About Rs. 15.50 billion is sure to be deposited in the business continuity loan repayment account.
The amount will be deposited from the government and various government agencies.
According to the Ministry of Finance, Rs. 5 billion will be deposited in the account by Nepal Oil Corporation, Rs. 3 billion by Nepal Rastra Bank, Rs. 2 billion by Citizens Investment Trust and Rs. 2 billion by the Deposit and Credit Guarantee Fund.
Similarly, Rs. 1 billion will be collected from Nepal Reinsurance Company, Rs. 1 billion from Employees Provident Fund, Rs. 1 billion from government and Rs. 500 million from Rastriya Beema Sansthan, the ministry said.
According to Sishir Kumar Dhungana, secretary at the Ministry of Finance and chairman of Business Continuity Loan Flow Steering Committee, commitment of Rs. 30 billion has been received in the loan repayment account. He said that the fixed amount will be deposited in the account as per the need and the loan would be flowed gradually.
The Ministry of Finance had issued the Business Continuity Loan Flow Procedure-2077 to pay the wages of the workers and employees working in cottage, small and medium enterprises and tourism business affected by COVID-19.
The procedure is maintained to open business continuity loan repayment account of Rs. 50 billion.
Meanwhile, a meeting of the Business Continuity Loan Flow Steering Committee held at the Ministry of Finance has decided to flow the credit from this week to the banks and financial institutions.
Similarly, Nepal Rastra Bank will provide details to the Ministry of Finance on a fortnightly basis about the amount deposited in such institutions.