The government is working on a plan to provide interest subsidies for teachers buying vehicles. The Ministry of Education has drafted the Education (Eleventh Amendment) Regulations, 2083, and sent the proposal to the Ministry of Finance for approval.
Under this plan, the government intends to cover 80 percent of the interest on bank loans used for vehicle purchases. Teachers would be responsible for the remaining 20 percent. This subsidy would remain active as long as the teacher stays in service.
Proposed purchase limits include:
- Secondary Level First Class teachers: Up to Rs 50 lakh for cars.
- Secondary Level Second Class teachers: Up to Rs 40 lakh for cars.
- Secondary Level Third Class, Lower Secondary, and Primary teachers: Up to Rs 4 lakh for motorcycles or scooters.
This policy is currently a proposal awaiting final approval from the Ministry of Finance.
Writes on vehicle pricing, taxation and the Nepali auto market from ongoing tracking of distributor price lists. Editorial policy.
