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Sajha gives KMC shares worth Rs 20 million

Dec 19, 2015- The Sajha Yatayat Cooperative has issued 200,000 shares worth Rs20 million to the Kathmandu Metropolitan City.

Mahendra Raj Pandey, acting manager at Sajha Yatayat, on Friday handed over the certificates to KMC Chief Executive Rudra Singh Tamang. According to Tamang, the metropolis has already given Rs20 million to the cooperative for providing city bus service. He said that plans are afoot also to run electric buses in the city.

In August, the KMC and the cooperative had signed an agreement to run additional eco-friendly and disabled-friendly city buses in the Valley, for which the KMC had announced to invest Rs100 million. Pandey said a global tender has been announced for purchasing new buses. According to the agreement, the KMC will provide an additional Rs80 million for the service after the buses are delivered. The new KMC loan would also be converted into shares.

Source: http://bit.ly/1Pccu0h