Kathmandu, February 3:

The Nepal Water Supply Corporation (NWSC) and the Kathmandu Valley Water Supply Management Board (KVWSMB) today signed a pact to handover the former’s assets and responsibilities to KVWSMB.

The board will take the assets soon and will then lease the property to Kathmandu Upatyaka Khanepani Limited for 30 years to develop the Valley’s water distribution mechanism.

This handover was one of the conditions set out by the donors for providing loans of $393

million for the Melamchi Water Supply Project. “An agreement was signed between the NWSC and the KVWSMB to pave way for future arrangements,” said Ishwari Paudyal, spokesperson for the Ministry of Physical Planning and Works.

A formal handing over of the assets of the NWSC will take place on February 13, as per the plans by Minister Hisila Yami.