NAC Pays Rs 530 Million to EPF and CIT

KATHMANDU, April 20:Nepal Airlines Corporation (NAC) has paid the installment of the loan used to buy the plane.

The NAC has paid a loan liability installment of 530.9 million rupees to the Employees Provident Fund and Citizen Investment Trust.

On April 13th, the NAC sent the aforementioned sum to the Employees Provident Fund and Citizen Investment Trust.

In addition, the NAC has already paid 2.94 billion rupees to both funds.

The NAC gave both organizations Rs 1.35 billion from mid-June to mid-July 2022, Rs 739.55 million from September 17 to October 17, 2022, Rs 339 million from December 16, 2022 to January 14, 2023, and Rs 539 million from March 15 to April 13, 2023.

Furthermore, because the NAC's business has been harmed as a result of the global coronavirus pandemic, the corporation has written to the fund requesting that the interest, damages, and penalties be waived for this period and that debt obligations be paid in larger installments.