The summary of the white paper prepared by the NEA, received from the Ministry of Energy, states that the total equity is 259.10 billion rupees, including retained profits, other reserves of 5.89 billion rupees, and the government's share investment in the NEA of 26.74 billion rupees.
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The accumulated profit of the Nepal Electricity Authority has reached 46.47 billion rupees. The profit till the end of Falgun of the current fiscal year was 9.48 billion rupees, according to the summary of the white paper prepared by the authority.
The summary of the white paper prepared by the NEA, received from the Ministry of Energy, states that the total equity is Rs 259.10 billion, including retained profits, other reserves of Rs 5.89 billion and government share investment in the NEA of Rs 26.74 billion. The NEA has stated that the process of due diligence audit (DDA) will be taken forward to ensure the accurate status of assets and liabilities, including a detailed evaluation of the financial, technical and managerial aspects of the NEA.
The first board meeting held immediately after the appointment of the NEA's Executive Director Hitendra Dev Shakya had decided to issue a white paper to show the work done during the tenure of Kulman Ghising and the financial condition of the NEA. The board meeting held on Monday under the chairmanship of Energy Minister Deepak Khadka has already approved the white paper.
The white paper prepared by the Authority states that the Authority's total arrears as of last Falgun, including Rs 23.44 billion towards dedicated feeders and trunklines, were Rs 44.54 billion.
'The first section towards dedicated feeders and trunklines is Rs 1.42 billion from Shrawan-Pus 2072, the second section from Magh-Baishakh 2072, Rs 6.11 billion, and the third section from Jestha to Ashar 2077, Rs 9.1 billion and an additional 25 percent penalty of Rs 6.9 billion, Rs 23.44 billion,' the summary of the white paper states, 'Technical evidence will have to be collected for the recovery of the said arrears, while the amount of the first and third sections is under consideration in the court.'
The white paper prepared by the Authority also shows the total accumulated profit of the Authority as Rs 46.47 billion, including dedicated arrears. While in a meeting of the House of Representatives on February 22, Minister for Energy, Water Resources and Irrigation Khadka had said that the then Executive Director of the NEA, Kulman Ghising, had shown a profit for the Rs 22 billion arrears of dedicated and trunk lines. ‘The profit was tied up because the traders had not paid the Rs 22 billion due on dedicated and trunk lines, and the government was paid revenue by showing that,’ he had said, ‘The amount that has not been raised has not been raised. It has not been confirmed. Whether there is income or not and whether it is possible to pay revenue by considering it as a profit or not? That is not a crime.’
The NEA has stated that Rs 14.1 billion has yet to be reimbursed for the exemptions given by the government under the headings of Covid exemption, humidity centers, etc. ‘The total outstanding amount including dedicated feeder and trunk line and other dues is Rs 32.5 billion,’ the letter states. ‘The Auditor General’s report for the fiscal year 2080/081 also contains a remark that the receipt is uncertain and has been included in income. It appears that the balance sheet of the authority has been prepared by including these dues in income.’
