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Govt to buy 5 percent share of the fund
KATHMANDU, Feb 12: The Non-Resident Nepali Association (NRNA) is taking an initiative to set up a fund of Rs 10 billion to invest in the infrastructure sector. For that, the NRNA has started the work of registering a separate company in Nepal.
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In a meeting held at the Ministry of Finance, the government has decided to invest five percent in the fund on behalf of the government of Nepal as per the prior agreement.
Finance Minister Bishnu Prasad Poudel urged the President of the NRNA, Kumar Pant, to start the work by completing the registration process of the company within a week.
Kumar Pant, president of the NRNA, said that the process of registration of the company is underway and the work will start soon. According to Pant, the NRNA will have 10 percent share in the company and 85 percent will be owned by Nepalis living abroad. IPO will be issued for investment by non-resident Nepalis.
Chairman Pant also informed that proposals have already been received for the investment sectors. He said that Nepalis living abroad are eager to invest in the infrastructure sector in Nepal.
