Nepal Rastriya Dainik
May 20, 2024 ,
TRENDINGS
Nine thousand victims of human rights violations in 2023 General committee meeting to make Congress strong and united: Deuba Those who pushed the country to violence are in power: Former President Bhandari Indefinite curfew order in Birgunj Permission for mineral extraction to 156 mining companies in Nepal Finance Minister Mahat’s request to focus on meeting the target of revenue collection

NAC seeks1 trillion 35 billion concessional loan to buy new aircrafts

Posted on by नेपाल राष्ट्रिय दैनिक

Nepal Airlines Corporation is going to take a low interest loan of 1 trillion 35 billion rupees . According to the corporation, a loan will be taken to buy widebody and narrow body ships for international flights.

According to the report submitted by the corporation management, it was decided to submit the decision to the government at the meeting of the board of directors held on June 8 under the chairmanship of Yuvraj Adhikari, the chairman of the board of directors of the corporation, for the in-principle agreement to take the concessional loan.

Accordingly, according to the instructions received in coordination with the Ministry of Culture, Tourism and Civil Aviation, the Ministry of Finance and the National Bank, and according to the decision of the board of directors of the corporation an international letter of intent was called on Tuesday to take the loan.

Among the loans received, the corporation plans to pay the existing debt with the approval of the government of Nepal and related agencies, to purchase ships for domestic and international flights and to invest in the construction of hangars for maintenance of international ships.

The corporation hopes that the loan will not be taken once, but several times according to the needs of the corporation’s commercial investment, and after receiving the loan, the annual interest expense of about three and a half billion will be significantly reduced.

The corporation says that the letter of intent has been called with the expectation that the corporation’s profit will increase.

Govt prepared to operate Nepal Airlines under management contract

Govt prepared to operate Nepal Airlines under management contract

Posted on by नेपाल राष्ट्रिय दैनिक

KATHMANDU – The government is preparing to operate the national flag-carrier Nepal Airlines Corporation (NAC) under management contract.

Minister for Culture, Tourism and Civil Aviation Sudan Kirati said that processes have been advanced for the management contract of the NAC for its restructuring.

At a meeting of the International Relations and Tourism Committee of the House of Representatives (HoR) on Tuesday, Minister Kirati said, “We are preparing to go for this system as we are required to embrace the management contract of the Corporation’s restructuring.” The Ministry has already sent a proposal for a management contract to the cabinet. “A decision will be made soon on this agenda,” he shared.

Minister Kirati argued that reforms in the NAC were inevitable through management contracts based on the studies and recommendations of the stakeholders. Since the management contract modality has generated good results in different countries, this model could be appropriate in Nepal too, he claimed.

On the occasion, Minister Kirati shared that the ministry has drawn the conclusion that the NAC cannot be run in the existing situation and that plans were being prepared to run the organization by bringing about structural reforms. On the occasion, lawmaker Udaya SJB Rana said that the NAC’s presence should be made robust in the international market even by adding more aircraft.

Likewise, lawmaker Dr Dhawal SJB Rana said that the NAC’s management contract was appropriate but it should advance only on the basis of relevance. However, lawmaker Prem Suwal opposed the idea of operating the NAC through a management contract and called for all to become responsible for reforms in the NAC.

(RSS)