Jul 12, 2024

NAC pays Rs 530 million to EPF and CIT

NAC pays Rs 530 million to EPF and CIT

KATHMANDU, April 15:Nepal Airlines Corporation (NAC) paid up its loan of more over Rs 530 million on Monday.

Nepal Airlines Corporation (NAC) has paid 530.9 million, 55 thousand rupees towards the debt obligation owed to the state-owned public financial institutions Employees Provident Fund (EPF) and Citizen Investment Trust (CIT).

Similarly, the NAC had paid the EPF and CIT installments till April 12, 2024, respectively.

In addition, the NAC made installment payments of 5 billion 366 million 86 thousand 968 rupees last year.

Because of the impact of Corona on the NAC's business, the NAC has already addressed letters to both financial companies to make it easier to fulfill debt obligations by expanding the number of payments and waiving interest, damages, and penalties for that period. This issue is being discussed.