Unaware of NEA's account freezing request: NRB

Kathmandu, November 27 — Although the Nepal Electricity Authority (NEA) has written to Nepal Rastra Bank to freeze the bank accounts of industries that have failed to pay their electricity dues, the central bank has stated that it has not received formal notification regarding this matter.

On Wednesday evening, the NEA sent letters to Nepal Rastra Bank requesting account freezes, to the Securities Board of Nepal to halt the issuance of shares, and to the Company Registrar’s Office to stop the transfer of share ownership.

The NEA also informed the regulatory body, the Electricity Regulatory Commission, about these actions. However, Nepal Rastra Bank's spokesperson, Ramu Poudel, confirmed that no formal information has been received.

He said, “It’s possible that the correspondence came after office hours, and we have not yet received any formal communication. We cannot comment on what decision will be made at this time.”

Other officials from Nepal Rastra Bank also stated that they have not received any formal information.