Govt releases white paper on property of Nepal Trust

Kathmandu, February 25

With pressure from various quarters, the government today issued a white paper on the movable and immovable properties belonging to Nepal Trust.

Organising a press conference here today, Deputy Prime Minister and Minister for Defence Ishwar Pokharel, who is also the chairperson of Nepal Trust, made public all the details of the assets currently owned by the trust.

According to the white paper, the trust owns 21,562 ropanis of land in 12 districts. The trust currently has Rs 780 million, $148,581 and £50,124.

Pokharel stated that Nepal Trust has taken ownership of the aforesaid properties and money that was held in the name of former royal families, including late king Birendra Bir Bikram Shah, late queen Aishwarya Rajya Laxmi Devi Shah, late crown prince Dipendra Bir Bikram Shah and late prince Nirajan Bir Bikram Shah.

Moreover, the trust owns 533,244 units of shares of Nabil Bank, 30,720 units of shares of Hotel Annapurna and 6,750 units of shares of Nepal Industrial Development Corporation.

“The trust has 4,442 ropanis of land in Kathmandu district alone,” the white paper read. Apart from 113 ropanis of land in Bhaktapur, eight ropanis in Lalitpur, the trust also has 240 ropanis of land in Nuwakot and 194 ropanis in Dhankuta district.

Moreover, it has 26 ropanis in Makawanpur, 10 ropanis in Kavre, 27 ropanis in Sindhupalchowk, 457 ropanis in Surkhet, 174 ropanis in Kaski, 767 ropanis in Chitwan and 15,101 ropanis in Dhading district.

Pokharel further said that the government is still searching for other properties and assets related to former royal families within and outside the country that may still be undiscovered.

“The government has intensified the campaign to find out the status of properties owned by the former royals.”

During the press conference, Minister Pokharel claimed that the lease for Gokarna Forest Resort and other land were in accordance with the Nepal Trust Act and related regulations.