KATHMANDU: The Kathmandu Metropolitan City (KMC) has directed all shop owners operating in the CT Market to vacate their spaces within three months.
According to a public notice issued by KMC’s Revenue Department, the city had earlier leased out the market under an income contract to Ganesh Electronics on January 6, 2023. However, after the company failed to carry out the agreed operations, KMC decided to demolish the market building and construct a new ward office in its place.
A meeting of the municipal executive on August 31 resolved that the security deposit submitted by Ganesh Electronics would only be refunded once the outstanding payment of Rs27.1 million, pledged annually under the agreement, is cleared by the shop operators.
Currently, 27 businesses are operating inside CT Market. They have been instructed to relocate and vacate the premises within three months.
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