Preparations to create fund of Rs. 10 billion for investment in infrastructure sector

Kathmandu: The Non-Resident Nepali Association (NRNA) is preparing to set up a fund of Rs 10 billion to invest in the infrastructure sector.

A meeting held at the Ministry of Finance on Thursday also decided to invest five percent in the fund as per the previous agreement on behalf of the Government of Nepal. Finance Minister Bishnu Prasad Poudel urged the President of the Non-Resident Nepali Association, Kumar Pant, to start the work within a week after completing the registration process of the company.

Kumar Pant, president of the Non-Resident Nepali Association, said that the process of registration of the company is underway and the work will start soon.

According to Pant, the Non-Resident Nepali Association will have 10 percent share in the company and 85 percent of the shares will be owned by Nepalis living abroad. An IPO will be issued for the investment of non-resident Nepalis.