Nepal Police is laying the groundwork to pave the way for its incumbent and retired personnel to invest in hydropower projects.
For this, Police Welfare Fund in association with Hydroelectricity Investment and Development Company Ltd has already developed a concept paper.
The concept paper pertaining to the hydropower project (name yet to be disclosed) will have 45 per cent equity investment by incumbent and retired cops, said SSP Lava Bista.
Many police personnel are interested in making share investment in the hydropower project.
The amount furnished by the investors will be deposited in the Hydroelectricity Investment Fund maintained under the PWF. No one can use the amount without the consent of concerned investors.
The amount will also yield interest equivalent to the existing interest rate for savings account until it is transferred as a share.
“If an investor wishes to take back his/her investment for any reason, the PWF will refund it along with the principle and interest or the amount equivalent to the share price,” says the concept paper.
The PWF has issued a circular to all police units throughout the country to ensure than no one is deprived of this opportunity.
However, this is not a compulsory provision. Any personnel who is not interested in the scheme may not invest in the project. Investors may either make a lump payment or submit the amount to be invested in four installments.
According to the concept paper, a floor amount of Rs 15,000 and Rs 5,000 have been fixed incumbent and retired personnel respectively.
Source : The Himalayan Times.
