Hulas Steel Industries, based in Simara, Bara, has started paying its outstanding premium charges to the Nepal Electricity Authority (NEA) for using dedicated and trunk power lines.
According to NEA Executive Director Manoj Silwal, the company began payment on Friday, clearing the first installment of its dues.
Hulas Steel had accumulated a total of Rs 141.2 million (14 crore 12 lakh) in unpaid premium charges for the period between Magh 2072 and Baisakh 2075. The NEA has approved a repayment plan of 28 monthly installments, each amounting to Rs 5.043 million, to settle the dues.
Similarly, Ashok Steel, another industry located in Simara, has also started paying its outstanding amount of Rs 175.8 million (17 crore 58 lakh). The company has opted for the same 28-installment repayment plan and has already paid Rs 6.3 million as the first installment.
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