Ilam, Aug. 5: The investment made by the government through the youth and small entrepreneurs self-employment fund has proved unproductive.

The investment as a loan taken by the Rastriya Banijya Bank in Ilam by six youth of the Ilam municipality has is found to have not led to any result. Among them, some have not paid back any installment while some were found to have not run the business that they had taken loan for.

The Bank had issued Rs. 100,000 each to three youths and Rs. 50,000 each to the remaining three. One of the youth, Ashok Basnet was found to have shut down his electronics shop, according to member-secretary of the Youth and Small Entrepreneurs Self-employment Fund, Ilam Hari Mainali. Likewise, none of the others have paid their loan installment regularly.

‘Our repeated oral and written communications to the loan defaulters has not made any success, and hence we will move ahead with the due process’, said the Bank Manager Badri Prasad Bhattarai. The loan to them were provided without any collateral. RSS