Employees� Provident Fund (EPF), one of the cash-rich
government-owned institutions, is foraying into the infrastructure
sector in a big way.
EPF has said that it will invest 50 percent of its total resources in hydropower and housing sectors in the next 10 years. As per its projection, it will be investing Rs 283.5 billion in these sectors. The projection is based on its potential resources it will have in the next 10 years.
�Given the potential of EPF, the fund has taken the strategy of increasing its investment in these sectors,� said EPF Administrator Ramesh Kumar Bhattarai at the fund�s golden jubilee celebration on Saturday. According to Bhattarai, year 2012, which the government has planned as the Investment Year, will also be a new opportunity for it to mobilise its resources.
According to EPF, based on the current annual growth rate, its financial resources are expected to reach Rs 247 billion in five years and Rs 567 billion in the next 10 years. As of the last fiscal year, its total financial resources stand at Rs 106.84 billion. Currently, the fund�s investment in projects stands at just 5.83 percent of its total resources, according to EPF.
EPF is the largest domestic lender in the hydropower sector. It has already pledged Rs 26.05 billion for different hydropower projects. It has reached agreements with projects including Upper Tamakoshi, Upper Sanjen, Sanjen, Rasuwagadhi and Mid-Bhotekoshi.
The fund has already vowed Rs 3 billion for the government-owned Hydropower Investment and Development Company which aims to generate resources for major hydropower projects from the national and international sectors.
Bhattarai said EPF faced difficulties in meeting expectation of its member employees due to its excess dependence on the income from interest on its fixed deposits in commercial banks.
EPF also wants to develop a broad housing project �EPF Member City� for its members. Saying that its investment in construction and housing is profitable, EPF sought to develop housing projects for residential and commercial purposes on land that it owns. It has projected Rs 3 billion investment in all these housing projects.
Source: Kantipur Daily
EPF has said that it will invest 50 percent of its total resources in hydropower and housing sectors in the next 10 years. As per its projection, it will be investing Rs 283.5 billion in these sectors. The projection is based on its potential resources it will have in the next 10 years.
�Given the potential of EPF, the fund has taken the strategy of increasing its investment in these sectors,� said EPF Administrator Ramesh Kumar Bhattarai at the fund�s golden jubilee celebration on Saturday. According to Bhattarai, year 2012, which the government has planned as the Investment Year, will also be a new opportunity for it to mobilise its resources.
According to EPF, based on the current annual growth rate, its financial resources are expected to reach Rs 247 billion in five years and Rs 567 billion in the next 10 years. As of the last fiscal year, its total financial resources stand at Rs 106.84 billion. Currently, the fund�s investment in projects stands at just 5.83 percent of its total resources, according to EPF.
EPF is the largest domestic lender in the hydropower sector. It has already pledged Rs 26.05 billion for different hydropower projects. It has reached agreements with projects including Upper Tamakoshi, Upper Sanjen, Sanjen, Rasuwagadhi and Mid-Bhotekoshi.
The fund has already vowed Rs 3 billion for the government-owned Hydropower Investment and Development Company which aims to generate resources for major hydropower projects from the national and international sectors.
Bhattarai said EPF faced difficulties in meeting expectation of its member employees due to its excess dependence on the income from interest on its fixed deposits in commercial banks.
EPF also wants to develop a broad housing project �EPF Member City� for its members. Saying that its investment in construction and housing is profitable, EPF sought to develop housing projects for residential and commercial purposes on land that it owns. It has projected Rs 3 billion investment in all these housing projects.
Source: Kantipur Daily
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