NAC pays Rs 830.95 million to EPF, CIT

The national flag carrier, Nepal Airlines Corporation, has paid back Rs 830.95 million to the Employees Provident Fund and Citizen Investment Trust.

The NAC paid the amount as a loan instalment of the last month of the previous fiscal year. It had taken a loan from EPF and CIT to purchase two narrow-body and two wide-body aircraft.

Earlier, the NAC had paid Rs 2.94 billion as the instalment amount from June 15, 2022, to April 13, 2023.

A press release issued by the NAC mentioned that NAC's business has been expanded as well as there is improvement in its income as compared to previous years.

Similarly, the NAC paid the arrears at different agencies as well as has been paying instalment amounts to EPF and CIT.

An action plan has been forwarded for the procurement of three small-size aircraft with internal sources to provide service in remote areas keeping the immediate necessity in mind, shared NAC.