Banking News – Industries operating within Nepal’s industrial estates deposited more than Rs. 468.6 million (Rs. 46.86 crore) into the state treasury by the end of the last fiscal year as payment for the use of industrial infrastructure.

According to Basudev Sodari, Information Officer at Industrial District Management Limited (IDML), industries operating across 10 industrial estates cleared Rs. 468.6 million in outstanding dues during the reporting period.

More than 300 industries operating in industrial estates nationwide had accumulated outstanding payments totaling around Rs. 880 million (Rs. 88 crore).

To enforce payment compliance, electricity connections of 10 industries were disconnected after they failed to clear their outstanding dues. Among the largest defaulters, two industries under the Continental Group collectively owe approximately Rs. 40 million (Rs. 4 crore).