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NEA Earns Profit

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August 18: Nepal Electricity Authority (NEA) has succeeded to earn profit in the fiscal year 2016/17. It was running in loss in the previous year but managed to make operating profit of Rs 2.40 billion in the last fiscal year. NEA had recorded operating loss of Rs 3.63 billion in the fiscal year 2015/16.

NEA, which has been suffering losses for many years, fared well even in the net loss in the last FY. The net loss of NEA in FY 2015/16 was 8.89 billion but there was a sharp fall in loss in the FY 2016/17 as the figures dropped to Rs 0.98 billion.

NEA made such announcements during its 32nd anniversary on August 17.

It has been said that the significant change in fortune is the result of noteworthy contribution and commitment of former Energy Minister Janardan Sharma and the able administration of CEO Kulman Ghising in implementing the directives of the minister properly.

NEA’s measures to minimize energy loss, reduction in the rate of average import of electricity, electricity tariff adjustment, regular supply of electricity in major cities among others have helped in minimizing the financial loss.

 

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