CIT’s profit up by 8.54%

KATHMANDU: Citizen Investment Trust (CIT) has made 8.54 per cent more profit in the first six months of the current fiscal year compared to the same period last year. The CIT said that it earned Rs 322.5 million in profit in the first six months of the 2077/078 BS fiscal year.

Likewise, the CIT has made Rs 163.21 billion in investment during the review period while its total deposit is Rs 164.88 billion.

At a programme on its 31st establishment day on Wednesday, Revenue Secretary at the Ministry of Finance Ram Sharan Pudasaini directed the CIT officials to work seriously to promote the economy affected from the COVID-19 pandemic.

Laying emphasis on infrastructure development, employment creation and expansion of economic activities to review the economy, Secretary Pudasaini suggested that the CIT needs to make its schemes further effective.

On the occasion, Executive Director of CIT Raman Nepal said that the organization was investing targeting high returns on the basis of risk assessment.