KATHMANDU, Aug 15: The government has come up with a plan to provide concessional loans of up to Rs 5 million to the families of those killed and people injured in the Gen-Z movement to run self-employment businesses.
The Ministry of Finance (MoF) issued the Procedures on Interest Subsidy for Concessional Loans (Second Amendment), 2083 BS on Friday to make the arrangement.
The MoF amended the procedures using the authority granted under Clause 65(4) of the Financial Procedures and Fiscal Accountability Act, 2076 BS.
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The revised procedures have added a self-employment enterprise loan arrangement targeting the families of those killed and people injured in the Gen-Z movement that took place on September 8-9 last year.
Under the arrangement, families of those killed and people injured in the Gen-Z uprising can obtain loans of up to Rs 5 million.
According to the procedures, the status of the families of those killed or people injured must be certified by the government or an authority designated under prevailing law.
The procedures define the family members of those killed in the Gen-Z movement as their husband, wife, son, daughter, father or mother.
The procedures state that concessional loans can be made available to the families of those killed and people injured for businesses related to agriculture and livestock, cottage and small industries, service businesses, IT-based businesses, tourism enterprises, productive industries, startup ventures and other employment-oriented businesses designated by the government from time to time.
Besides, the government has widened the scope of concessional loans with the aim of economically empowering families of those killed and people injured in the Gen-Z movement through self-employment and entrepreneurship.
