Kathmandu, July 27, 2016: The Office of the Nepal Trust has received a way to offer the former monarch’s assets in form of land property, houses and villas on rent.
The Trust, which was established nine years ago, has finally prepared its regulation and enacted it thereby paving the way for offering the assets on rental service. The Trust in absence of a regulation had not been able to earn income.
Trust Secretary, Bhim Upadhyaya, said the Trust has taken over the ownership of 25,600 ropanis of land in name of former King Birendra Shah. The Trust has also opened up seven palaces in various locations for laymen and tourists.
“The enactment of the regulation has paved the way for the Trust to earn income by renting the former royal family’s land and property.” Upadhyaya said adding, “We will start renting the land and other property.”
The trust has prepared and implemented a work procedure to run educational, academic and health campaign under the Nepal Trust Program with income collected from renting the building and land.
The procedure includes running schools, colleges and university in rural areas and managing scholarships and providing subsidy to educational institutions, said Upadhyay.
The trust has proposed the construction of 25 well-equipped buildings in accordance with the unique art and culture of Nepal on land belonging to former royal family, meant for accommodating VVIPs on their tour of Nepal.
“We will begin constructing the proposed buildings after the proposal is passed,” Upadhyay said. The trust made the proposal at the 39th board meeting of the trust’s Board of Directors on July 15 in the presence of Prime Minister KP Sharma Oli.