Kathmandu. The government has decided to raise up to Rs 410 billion in national debt.
The Ministry of Finance has informed about this by issuing a bill designed to provide for the recovery of national debt. Through this act made by the Federal Parliament, the government will implement the proposal related to finance in the coming fiscal year 2083. At the end of 1984, the national debt will be raised in such a way that the remaining amount for overpayment and the remaining amount will not increase to Rs 410 billion.
The amount so raised shall not include the surplus amount that the Government may receive under the prevailing laws. The government can give approval to the Nepal Rastra Bank to convert the surplus due up to the next fiscal year into a treasury bill.
As per the Public Debt Management Act, 2079, the period for payment of principal and interest on the national debt so raised and the rate of interest on that loan will be fixed as per the Public Debt Management Act, 2079.
