4 additional companies receive subsidy return for their energy-efficient machinery installation; Banijya Bank makes payment on behalf of Energy Efficiency Program Nepal funded by German Government

Rastriya Banijya Bank has granted subsidies worth Rs 1 crore to Pragati Textile Industries, Rs 93.60 lakh to Premier Wires, Rs 64.37 lakh to Hulas Steel Industries, and Rs 32.08 lakh to Shalimar Metals for their energy-efficient operation under the Energy Efficiency Program Nepal funded by the German Government. The cheque amount for the subsidy was handed over by the CEO of the bank Mr. Kiran Kumar Shrestha.

The program has been in place in Nepal since 2010 under the funding of the German government where the big and small industries that install energy-efficient and less polluting machinery for their production line will be eligible to receive 15%to 39% of their total investment as subsidy return, the total amount not exceeding Rs 1 crore.