Rs 15.5 billion to be deposited in balance of payment account

Kathmandu : Funds worth Rs 15.5 billion would be deposited in the balance of payment account that has been implemented with the aim of continuing businesses affected by ongoing Covid-19 pandemic.

The amount includes be Rs 5 billion from the Nepal Oil Corporation Limited, Rs 3 billion from the Nepal Rastra Bank, Rs 2 billion from the Citizen Investment Trust, Rs 2 billion from the Deposit and Credit Guarantee Fund, Rs 1 billion from the Nepal Reinsurance Company Limited, Rs 1 billion from the Employees Provident Fund, Rs 1 billion from the Government of Nepal and Rs 500 million from the National Insurance Corporation, according to the Ministry of Finance.

There has been a pledge of Rs 30 billion to be deposited in the account, said Secretary of the Ministry of Finance Shishir Kumar Dhungana, also chairperson of the Business Continuity Credit Flow board of directors.

According to the Business Continuity Credit Flow Procedure, 2077, workers and employees working for small and cottage industries and tourism affected by Covid-19 shall get their pay and a balance of payment account worth Rs 50 billion shall be opened in a bid to continue affected businesses.