NRA revises down cost of reconstruction
Kathmandu, May 20
The National Reconstruction Authority (NRA) has revised down the estimated cost of post-earthquake reconstruction from Rs 669.5 billion to Rs 425 billion.
The Post Disaster Recovery Framework (PDRF) of the NRA, launched in May 2016, had estimated that the government would have to invest around Rs 669.5 billion for the recovery and reconstruction activities. However, based on the expenditure and resource requirement, NRA believes the reconstruction works will be completed at a total cost of Rs 425 billion, according to Bhisma Kumar Bhusal, joint secretary of NRA.
The NRA has estimated that total expenses in this fiscal 2017-18 will hover around Rs 112 billion as Rs 97 billion has been spent till the first 10 months of this fiscal. The total expenditure on post-earthquake reconstruction activities was relatively low in previous fiscal years - Rs 49 billion in 2016-17 and Rs four billion in fiscal 2015-16 - according to NRA.
Since fiscal 2015-16, the government has spent Rs 150 billion till date and around Rs 15 billion is expected to be spent by the end of this fiscal, according to Bhusal..
The NRA has said that the reconstruction and recovery works of the NRA will be completed with an additional Rs 260 billion. The NRA has plans to mobilise Rs 260 billion in the next fiscal - Rs 160 billion from the government and Rs 100 billion through foreign aid.
Expediture over the years
Fiscal year............................... Amount
2015-16..........................................Rs 4 billion
2016-17..........................................Rs 49 billion
2017-18 (10 months)................Rs 97 billion
Source: NRA
