KATHMANDU, NOVEMBER 15

The Public Debt Management Office has issued two savings bonds worth a total of Rs 3 billion to raise government debt. These include the Citizen Savings Bond-2087 worth Rs 2.5 billion and the Foreign Employment Savings Bond-2087 worth Rs 500 million, both with a five-year maturity.

The annual interest rate is 6.5 percent for the citizen bond and 7.5 percent for the foreign employment bond. Interest will be deposited into buyers' bank accounts every six months.

Deputy Secretary Prakash Pudasaini said applications worth Rs 800 million have already been received for citizen bonds in the past four days. He added that the bonds will be issued on a first-come, first-served basis and can be traded easily in the secondary market or used as loan collateral.

Applications can be filed through the DOMS system and investor portal of the Public Debt Management Office.

(With inputs from RSS)