Kathmandu. Teachers of community schools will get a loan of up to Rs 50 lakh to buy vehicles.
The Ministry of Education and Sports has issued the Education (Eleventh Amendment) Rules, 2083 with a provision to provide interest subsidy to teachers on the purchase of vehicles. The regulations with this amendment have been sent to the Ministry of Finance for approval.
According to the proposed provision, secondary-level first-grade teachers can buy vehicles up to Rs 50 lakh and second-grade teachers can buy vehicles up to Rs 40 lakh. It has been proposed that teachers of all categories of secondary, third grade, lower secondary and primary level can buy two-wheelers up to Rs 4 lakh.
The amended regulations have proposed that the government will bear installment interest subsidies up to 80 percent of the cost of the financial arrangement made through banks for the purchase of vehicles. The remaining 20 percent of the amount can be managed by the teachers themselves to buy vehicles.
It has been proposed that the government will bear the installment interest determined by the concerned bank for the duration of the teachers’ service.
