Kathmandu. Teachers will be able to get concessional loans to buy vehicles. Teachers of community schools will get concessional loans up to Rs 50 lakh to buy vehicles.
The Ministry of Education and Sports has issued the Education (11th Amendment) Rules, 2083 with a provision to provide interest concession to teachers on the purchase of vehicles. The regulations with this amendment have been sent to the Ministry of Finance for approval.
It has been proposed that teachers of all grades of secondary, third grade, lower secondary and primary level can buy two-wheelers up to Rs 4 lakh.
The amended regulation proposes that the government will pay up to 80 percent of the cost of the financial arrangement for the purchase of vehicles as interest subsidy. The remaining 20 percent of the amount can be managed by the teachers themselves to purchase the vehicles.
It has been proposed that the government will bear the installment interest determined by the concerned bank for the duration of the teachers’ service.
