Kathmandu, July 19: The Nepal Army has informed that the Army Welfare Fund has a cash balance of nearly Rs.75 billion. Army established the Fund for the general welfare of the Nepal Army’s gross ranks, retired soldiers and their dependent families.
In a press conference held on Thursday at Military Headquarters, General Kiran KC informed that the cash balance of the fund increased by Rs. 4.87 billion in FY 2080/81. He shared that the Fund has invested nearly Rs. 6.79 billion (before audit) in various agencies. The actual assets of the fund now have topped Rs 82.88 billion.
The main source of the fund is from troops deployed in various countries as peace mission under United Nations. The UN has been providing allowances to Army personnel working in different difficult peace missions across the globe. Similarly, interest received from money deposited in banks and financial institutions, Nepal Army Institute of Health Sciences, school/college tuition fees, family housing rent, money received from income-generating projects, foreign currency premiums and money received from tickets for providing medical services will also be deposited in the fund
The army has been doing welfare work like education, health, skills and employment and concessions loans from the welfare fund. In financial year 2080/81 BS, more than 632,000 people received health services and 18,748 people received self-employment and employment by taking training in agriculture and commercial livestock, vegetable farming, small business, Army said.
General KC informed that the deposit amount at risk of the fund has been significantly reduced. He said that in the past years, the amount of deposits at risk has been reduced from Rs 85 crore to Rs 5 crore. KC made it clear that due to pending cases in various courts, the recovery from the banks and financial institutions where the deposits are held has not been made.
150,000 peacekeepers served in six decades
According to the army, a total of 152,818 peacekeepers have participated in 44 different peacekeeping missions since the beginning of the Nepali Army’s peacekeeping operations. On Jestha 30, 2015 BS (nearly 66 years back), it participated in the peacekeeping mission from Lebanon.
Currently, 5,916 peacekeepers of the Nepali Army are deployed in 11 peacekeeping missions, according to the army. So far, 2,777 Nepali women soldiers have participated in peacekeeping operations.
Likewise, the army has opened 1,411 km of road track and handed it over to the Department of Roads and installed 38 belli bridges. Currently, three national pride projects including Kathmandu-Nijgadh Fasttrack Expressway and two first priority road projects are being constructed under the direct management of the army. The total length of the road is 274 km. Army is constructing Khandbari Kimathangka (Chamtang-Ghongappa section), Karnali Corridor, Benighat-Arughat-Larkevnjyang, Darchula-Tinkar roads.
