Seven defaulters badgered into repaying

Seven black-listed big loan defaulters have been delisted from the defaulters' list. According to the finance ministry, there are now only 332 loan-defaulters.
Maitra Dev Pathak, Prabin Dev Pathak, Shant Dev Pathak and Bimala Devi Pathak repaid their loan to Nepal Bank Ltd whereas Birendra Kanaudia and Om Prakash Kanauda have rescheduled their loan with Rastriya Banijya Bank (RBB).
Earlier, the government formed a Wilful Defaulter Punishment Monitoring Committee on January 13 led by CA member Hari Rokka to recover bad debts of banks and other financial institutions. The committee listed listed 339 loan defaulters.
The Roka committee added 238 new loan defaulters to the old list of 109, making it a total of 339 defaulters. Of the 112 loan defaulters in the old list, three have repaid their loan.
Earlier, loan defaulters over Rs 50 million were in the list of big loan defaulters but according to the amended rule Rs 10 million and over defaulters are called big loan defaulters.
The Roka committee compiled a list of 355 defaulters -- 14 more than the those in the list published three months ago of the 339 defaulters. The committee has alleged that state-owned banks Nepal Bank Ltd (NBL), Agriculture Development Bank Ltd (ADBL) and Rastriya Banijya Bank Ltd (RBB) were reluctant to cooperate in identifying defaulters
ADBL submitted a list of 13 defaulters of above Rs 50 million in bad loans. The committee succeeded in forcing 13 defaulters -- 10 of NBL, two of RRB and one of ADBL -- to repay their loans. The committee is focusing on defaulters above Rs 50 million dating back to 5-6 years ago. Later, it will investigate default cases above Rs 10 million.

revenue collection looks up
KATHMANDU: The finance ministry said that it has been successful in collecting Rs 1.15 billion revenue till May 29. The capital expenditure -- spending on development works -- has also gone up to Rs 28.41 billion, an increase of 12.5 per cent in comparison to the same period last fiscal year. "Now the treasury surplus is at Rs 21 billion," said Shanker Adhikari, spokesperson for the finance ministry. However, of the total amount the government can spend only around Rs 16 billion as the remaining amount is alloted for local bodies, and due to lack of elected local bodies, it is frozen. Adhikari also said that the expert team of Dr Govind Bahadur Thapa, Dr Yubraj Khatiwada, Keshav Acharya, Pushparaj Rajkarnikar and Pushpa Kandel -- formed by the CPN-UML to help finance minister Surendra Pandey -- has started working on the budget preparation.