EPF seeks govt guarantee for loan to NAC
Tuesday, 01 December 2009 14:21
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Employees' Provident Fund (EPF) has clarified that it is not in a position to lend loan to National Airlines Corporation (NAC) unless the government stays as a guarantor for that.

While answering the questions of the lawmakers during the meeting of the Public Account Committee (PAC) in Singh Durbar on Tuesday, EPF chief Arabinda Kumar Shrestha said, "We are relying on the government not on NAC and accordingly, our loan has to be paid back by government, if NAC fails."

Shrestha informed that they have put 10 conditions for loan to NAC and the deal has not been finalised yet.

According to him, the conditions include government taking guarantee of the loan; the government will pay back the loan if NAC failed to pay on time; money will be released on installments seeing liquidity in the EPF; interest to remain at 10 percent; interests must be paid quarterly and NAC must ensure that 50 percent of its daily income is kept separately for making payments to EPF.

NAC officials earlier had claimed they have received approval from the EPF for loan of Rs 10 billion. The NAC has already sent some money to Airbus, with which the NAC has signed agreement for purchase of two aircrafts. nepalnews.com


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Anonymous   |110.44.113.xxx |2009-12-02 07:00:52
Float some commission to Sarbajanic Lekha Samitee, only then new aircraft is
possible. The RA management should know this in advance.
Anonymous   |110.44.113.xxx |2009-12-02 06:57:57
All the corrupts those who did not get a smell of ghus on their side are
conspiring against RA to not let them buy new aircrafts.
Prakash Karki  - Answer to Mr Sharma   |113.199.178.xxx |2009-12-02 01:08:35
If you are a real travel agent you should not blame RA staff like this and go
against purchase deal.
You do not mind to be in queue in other airlines offices
who behave you like peon of their company. You do not mind to pay the fare
whatever they like, you do not mind to surrender with another travel agency
holding bulk seats.
You have shown clear nepalese mentality who want to spoil
other if can not benefit.
You know where the money goes you just get the service
charge for ticket.
Nepal can not develop because of people like you and because
of political leaders who feel themselves more wise, clean and sincere than the
experts who have expertise.
Please change your atude and behavor for long
lasting betterment.
Bijaya Regmi  - RA Aircraft deal   |118.92.100.xxx |2009-12-01 16:48:56
I feel sorry for Sugam Ratna Kansakar as the corrupt officials of Nepal have
decided to stop the deal of buying new planes. All the chiefs of RA so far were
not bold enough to take a decision on this matter which is taking RA to a stage
of almost failure airlines. The existing planes that RA owns was bought during
Panchayat era and all the corrupt leaders of today would not let the airline
make any decisions until they get a huge share. Shame to you political leaders!!
Let RA work and decide on its own and be independent.
this company is null.   |202.79.40.xxx |2009-12-01 08:32:50
This is a lie. NAC is the most corrupted company in the history of Nepal. The
airlines does not let the normal travel agencies to make booking but they
provide access to certain travel agencies only with a 5000 Nrs bribe in average.
The staffs of this airline fly empty but they do not sell tickets unless they
get money 'under the table' This airline has to be as soon as possible
liquidified or given it to private sector. A corrupt management can never
improve the situation of this airline. No need to buy new planes. We pray for
the goodness of the country not a handful of people like SUgatratna kansakar and
his team. THIS IS THE MOST CORRUPT COMPANY. SO BETTER DISMISS IT AND DO
'KHAREJI' FOR THE BETTERMENT OF THE COUNTRY AND POOR PEOPLE OF NEPAL. Mr. J
Sharma/Travel Agent

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Last Updated on Tuesday, 01 December 2009 15:40
 

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