Waiver of loan for hydel project hailed

Bajura, October 16

Kritam Singh of Barhabisha-5, Bajura was elated to get his citizenship and land ownership certificates back after nine years.

Kritam had put his certificates as mortgage at the Agriculture Development Bank to withdraw a loan for construction of a hydro electricity project in the locality nine years ago.

The bank waived more than 80 per cent of the interest on the request of locals, said the project Chairperson Min Bahadur Singh.

“I am really happy to get my certificates back after all this time along with the regular supply of electricity,” said the overjoyed Kritam. Lawmaker and former Minister for Industry Karna Bahadur Thapa handed over the certificates to Kritam amidst a function in the village today.

Thapa had managed Rs 1 million fund from Constituency Development Fund to return the rightful citizenship and land ownership certificates of the locals.

Citizenship certificates and land ownership certificates of as many as 11 locals were said to have been kept at the bank for loan to construct Ikadigad Micro Hydro Power Project nine years ago.

Agriculture Development Bank had issued Rs 800,000 loan in the name of the project. As the project failed to clear the principal amount and the interest, the loan had gradually increased to Rs 1,600,000.