Kathmandu, February 20
The government-run electricity distribution monopoly, Nepal Electricity Authority, says it has earned a profit of Rs 12.12 billion in the first six months of the current fiscal year.
The authority says it earned that amount in profit from mid-July 2021 to mid-January 2022. This is a huge increase in the authority’s earnings as it was just Rs 6.18 billion in the entire year last year.
As per the latest data, the Nepal Electricity Authority has become the government-run public utility with the biggest earnings in this period.
The authority’s Managing Director Kul Man Ghising has attributed the leap in the profit to leakage control, expanded exports and reduced imports, and increase in other earnings.
“Other factors include a cutting down of operation cost and various efforts made at administrative and financial reforms,” Ghising says, “The consumer tariff has been adjusted (reduced) from mid-January, and it may affect the profit. But, we are working to increase the profit up to Rs 15 billion by focusing on leakage control and effective financial discipline.”