JEMC planning to sell immovable property to manage budget

Nov 6:Kathmandu,The government plans to sell immovable property owned by the Janak Education Materials Centre (JEMC) Limited to make up for the huge losses it has incurred. This was informed in a meeting of the Education Subcommittee under the Women, Children, Social Welfare and Senior Citizen Committee of the Legislature-Parliament.
The subcommittee discussed with Education Minister Chitralekha Yadav and education and finance secretaries about the plan at its meeting today. In the meeting, Education Secretary Bishwa Prakash Pandit the Centre’s annual loss is increasing and it has been very difficult to run its business just from loan and grant. A commercial project is afoot to sell some portion of land belonging to the center to manage current capital. Secretary at the Ministry of Education serves as the Centre secretary.
The Centre is yet to clear Rs 1.20 billion debt and has no current capital to print textbooks for the upcoming academic session.
A large portion of its land is put as securities in financial institutes to take loan from them. The Centre has verbally agreed to sell the property to public organisations like Nepal Telecom.
It has 235 ropani of land alone at Sanothimi Bhaktapur besides in Biratnagar, Nepalgunj and Pokhara.
In the subcommittee meeting last month, Committee President Ranju Kumari Jha argued that it would be better to close the Center which is neither could control its loss nor supply textbooks on time.
It downsized 250 staffs last month. It has a quota for 585 staffs. But, thirty employees required for press will be reappointed, according to Secretary Pandit.
Centre General Manager Anil Kumar Jha said land sale plan is the last alternative and homework is going on for adjusting prices of textbooks, and regional upgrading press.
Finance Secretary Suman Prasad Sharma drew an attention of the Center towards its excessive operational cost. The government could allocated additional budget to the Center if it only come up with a profit-oriented scheme.

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