NEA earns over Rs 7 billion profit in last FY

Kathmandu / August 13: Nepal Electricity Authority has earned more than Rs 7 billion in the last fiscal year.

Minister for Energy, Water Resources and Irrigation Barsha Man Pun amid a press meet at Singha Durbar on Tuesday informed that the profit of the NEA has risen over Rs 7.2 billion in the last fiscal year. The state-owned energy organization had recorded Rs 2.90 billion in profits in the previous fiscal year that shows the NEA has jumped profit of 149 percent in the fiscal year 2018/19.

The authority has deposited Rs 15.59 billion in state coffer and has restricted leakages to around 5.13 percent, Minister Pun informed.

The authority had exported 34.7 million units of electricity worth Rs 320 million. Minister Pun said that 38 defunct projects have been completed. He also added that the government will very soon start to put power cables underground, a campaign to make Kathmandu rid of entangled wires.