KATHMANDU, SEPTEMBER 19

The Pashupati Area Development Trust (PADT) has scrapped the contract of parking space lease inside the Pashupati area.

The contract was annulled after the Tatwo Investment Pvt Ltd, which had been granted the responsibility of parking management at Pashupati area, could not carry out works and pay dues on time as per the agreement.

PADT Executive Director Ghanshyam Khatiwada told RSS that the trust revoked the agreement of parking lot and it was taken over by the PADT from today itself.

The Tatwo Investment Pvt Ltd had to pay more than four million rupees to PADT. A board meeting of the PADT held on September 7 had decided to revoke the agreement with the company, shared Khatiwada.

'We have taken the responsibility of parking space from today. There will be free parking until next tender is awarded,' he mentioned.

As per the agreement, Tatwo Investment Pvt Ltd had to pay Rs 346,000 monthly for taking parking space inside Pashupati area on lease.

Although five-year agreement was reached between PADT and the company for parking management, it was cancelled within two-and-a-half years.

The PADT had signed contract with the company and fixed the parking charge at Rs 10 per hour to two-wheelers and Rs 25 for four-wheelers. However, it is alleged that the company was charging more than the determined charge.

The Department of Revenue Investigation has been looking into this matter, according to PADT.

A version of this article appears in the print on September 20, 2023, of The Himalayan Times.