KATHMANDU: The Ministry of Education has forwarded the Education (Eleventh Amendment) Regulations, 2083, to the Ministry of Finance for approval, proposing interest subsidies to help teachers purchase vehicles.
Under the proposed provision, first-class secondary-level teachers would be eligible to purchase vehicles worth up to Rs 5 million, while second-class teachers could purchase vehicles worth up to Rs 4 million.
Similarly, teachers across all grades at the secondary, lower secondary and primary levels would be eligible to purchase two-wheelers worth up to Rs 400,000.
According to the Ministry of Education and Sports, the proposed regulation provides for the government to cover interest costs equivalent to up to 80 percent of the instalment-related financial burden under bank financing arrangements for vehicle purchases.
The proposed provision aims to offer financial relief to teachers by reducing the cost of borrowing for vehicle purchases. However, the amendment must receive approval from the Ministry of Finance before it can be implemented.
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