Kathmandu. The government is going to provide interest concession to teachers for the purchase of vehicles. Through the Education (11th Amendment) Rules, 2083, it has been proposed to give concession on the interest charged on the purchase of vehicles to teachers.
The Ministry of Education has sent the regulations to the Ministry of Finance for approval. After the consent of the Ministry of Finance, the process of implementing the proposed provision will proceed.
As per the proposed regulation, first-grade teachers of secondary level will get interest concession of up to Rs 50 lakhs while second-grade teachers will get interest concession on the purchase of vehicles up to Rs 4 million.
Similarly, the government has proposed to provide concessions to third grade teachers as well as lower secondary and primary level teachers on the purchase of two-wheelers up to Rs 400,000.
According to the arrangement proposed by the government, the government will bear the installment interest up to 80 percent of the cost of the financial facility taken for the purchase of vehicles through the bank. The remaining 20 percent will have to be managed by the concerned teacher himself.
The proposed provision is expected to provide financial convenience to the teachers to purchase vehicles. However, since this provision is currently in the proposal stage, the approval from the concerned body and the necessary process is yet to be completed.
प्रतिक्रिया दिनुहोस्
