Industrial Area Collects Over NPR 42 Crore in Rent Arrears

Kathmandu. Nearly NPR 42.5 crore in rent arrears from the industrial sector has been collected within two weeks. Minister of Industry, Commerce and Supplies, Gauri Kumari Yadav, had directed the Industrial Area Management Limited to collect the amount that had been outstanding for years immediately.

According to the Limited, a total of NPR 42 crore 54 lakh 38 thousand in arrears has been collected so far following the minister's directive. Padam Oli, General Manager of Industrial Area Management Limited, stated that some industries have been due for rent since 2045 BS. He informed that a public notice was issued a few days ago to 635 industries and offices for rent payment, and most of them have been clearing their arrears.

Minister Yadav had directed to cut the electricity lines of industries that do not pay rent within the stipulated time, leading the Limited to take strict action. Initially, the lines of more than 200 industries were disconnected, but after paying the rent, many have had their lines reconnected. However, General Manager Oli stated that the electricity lines of 45 companies that still have outstanding rent remain disconnected. Minister Yadav has clearly instructed that the lines should not be reconnected until the arrears are fully cleared.

Among the industries with arrears, Continental Components and Services Pvt. Ltd. owes approximately NPR 3 crore 69 lakh, and another company of the same operator, Continental Services Pvt. Ltd., owes approximately NPR 1 crore in rent. The Limited has stated that the process of cutting off electricity to both these industries has been initiated.

Despite the tendency of industries to hesitate in paying rent and exert external pressure, General Manager Oli mentioned that a large amount of arrears has been successfully collected in a short period due to the clear stance of Minister Gauri Kumari Yadav.