Kathmandu, Aug 26: Nepal Army (NA) has made a significant achievement in terms of clearing its arrears for the fiscal year 2018/19.
The Army cleared Rs 6 billion 287 million 668 thousand out of the total arrears of Rs 9 billion 334 million 400 thousand in its name in that particular fiscal year, NA spokesman Bigyan Dev Pandey said.
According to him, the Army cleared 76.36 per cent of its arrears as against its target of clearing 60 per cent of its total arrears in fiscal year 2018/19.
He added that of the due arrears, 97 per cent was advance arrears. The Nepal Army has the policy of clearing the entire arrears in the name of the army organization and reducing it to zero.
Similarly, out of the arrears of Rs 702 million 93 thousand towards the Army Welfare Fund, it cleared Rs 442 million 60 thousand in fiscal year 2018/19 achieving 62.96 per cent success in clearing the arrears.
Spokesman Pandey said the status of arrears clearance by the Army is improving lately as the organization is sensitive and active towards reducing the arrears in its name.