NEA's Ghising requests NRB to freeze bank accounts of defaulter industries

Kathmandu, November 27 — Kulman Ghising, the Managing Director of Nepal Electricity Authority (NEA), has written to the central bank, Nepal Rastra Bank, requesting the freezing of bank accounts of 34 industries that have failed to pay their dues.

This action comes after directives from the NEA's Board of Directors and the Electricity Regulatory Commission to refrain from disconnecting power supply. Ghising has sought alternative measures to recover outstanding dues.

In his letter, Ghising has provided the names of the 34 industries along with the amounts they owe and requested that their accounts be frozen.

The letter also requests that if the investors of these industries are directors of other companies, the issuance of shares, transfer of rights, and pledging of collateral should be restricted in order to facilitate the recovery of dues.

The request has also been sent to the company registrar’s office and the Securities Board of Nepal for assistance.

The letter mentions the outstanding dues for industries that used dedicated and trunk lines without paying from January, 2016 to March, 2018.

The details of the account freezing have been communicated to the regulatory body, the Electricity Regulatory Commission as well.