Tuesday Aug 9, 2022
Tuesday Aug 9, 2022

Assets of Military Welfare Fund Rs. 64 billion


Nepalnews
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2022 Apr 03, 18:22, Kathmandu
Source: onlineradionepal.gov.np

Chief of Army Staff Prabhuram Sharma has informed that the assets of the Army Welfare Fund have reached around Rs. 64 billion. He said that the amount of the Army Welfare Fund established from Rs. 12.41 million in 1975 has reached Rs. 63.97 billion by mid-January.

 Inaugurating the 'Ex-Servicemen's Conference' organized at the Rajdal Gana, Chief of Army Staff Sharma said that more than 31,500 beneficiaries have so far benefited from the concessional loan program launched in collaboration with the Investment Bank to uplift the living standards of veterans.

 The Bank has so far disbursed about Rs. 6.75 billion in microfinance programs for the beneficiaries under the coordination of the Welfare Board. The Army has been emphasizing the program of raising the standard of living for its beneficiaries through welfare funds through education, health, self-employment, skills and concessions.

 Chief of Army Staff Sharma suggested that Bhupu, who has retired from his long military service, set an example by engaging in social service in a way that enhances the strength and dignity of the organization.

 The conference honoured senior veterans and single women, wheelchairs for the disabled and those with different abilities, testimonials and prizes for micro-enterprises, and parents for sending more than four children to the army.

 Stating that the organization is committed to using the welfare fund in a sustainable, economical and transparent manner, other participants informed that the aim is to make the service facilities expanded, decentralized and result oriented.

 The veterans have taken the conference as an unprecedented gathering in terms of meeting with their classmates and its medicinal value. Earlier, land military conferences have been held in Dipayal and Dhangadhi.

 The number of Bhupus and single women who have spent important moments of their lives in the Nepal Army, the country's main security organ, is about 85,000. The slogan of this year's conference, which is being held in coordination with the Welfare Board of the Nepal Army, is 'Ex-Servicemen's Conference Aspiration: Dedication and Trust to the Army'. On the occasion of the conference, it was informed that more than 700 service recipients have benefited from the macro-health program organized targeting the beneficiaries.

 Gaurav Tandul, executive officer of the Military Welfare Board, said that the Nepal Army was a dignified, disciplined, strong and excellent organization with a glorious history and unique tradition. He said, "Every effort is being made to increase the welfare fund, bring momentum with new thinking, identify potential areas of investment, decentralize the program and bring the service to the doorstep."

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