Minister Khadka announces financial audit & valuation of NEA
Minister Khadka said that a white paper recently released by the NEA has presented the current financial reality of the authority.
KATHMANDU: Minister for Energy, Water Resources, and Irrigation Deepak Khadka has announced that the financial statements and assets and liabilities of the Nepal Electricity Authority (NEA) will undergo a detailed due diligence audit (DDA).
Speaking briefly with journalists at the Parliament premises on Friday, Minister Khadka said that a white paper recently released by the NEA has presented the current financial reality of the authority.
When asked whether the NEA had fallen into financial losses, Minister Khadka urged stakeholders to carefully study the white paper, which, according to him, reveals the actual state of affairs. “The white paper reflects the current reality. I advise everyone to analyze it thoroughly. We will conduct a due diligence audit to assess NEA’s present situation,” he stated.
Minister Khadka also reassured the public that the country will no longer face load-shedding issues.
The NEA, in its white paper published last Friday, disclosed that it has extended institutional guarantees worth NPR 41.13 billion to promote its subsidiary and affiliated companies.
However, it admitted to a lack of reserve funds for outstanding payments, prompting it to initiate the process of securing a short-term loan of Rs 10 billion.
