sDkgL P]g, @)^# cGtu{t :yflkt / ;+rflnt

df]n'Ë xfO8«f]kfj/ sDkgL lnld6]8

/lhi6«f/ sfof{no M /ljejg !$, sf7df08f}+
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Email: molung.office@gmail.com, mhp@wlink.com.np
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-lwtf]kq ;DaGwL P]g, @)^# sf] bkmf #) tyf sDkgL P]g, @)^# sf] bkmf @# cGtu{t k|sflzt_
ljj/0f—kq
sDkgLn] cfkm\gf] hf/L k"FhL ?=*),@%,)),)))÷– dWo]] $$Ü cyf{t #%,#!,)),)))÷— /sd a/fa/ k|lt z]o/ ?=!))÷— c+lst मूल्यsf]
#%,#!,))) lsQf z]o/ dWo] lwtf]kq btf{ tyf lgisfzg lgodfjnL, @)&# ;d]tsf] clwgdf /xL hf/L k"+hLsf] !)Ü cyf{t
?=*,)@,%),)))÷— -cf7 s/f]8 b'O{ nfv krf; xhf/_ /sd a/fa/sf] ?=!))÷— c+lst b/sf] *,)@,%)) lsQf ;fwf/0f z]o/ cfof]hgf
k|efljt If]q cyf{t cf]vn9'Ëf lhNnfsf] df]n'Ë ufp+kflnsfsf afl;Gbfx?sf] nflu %Ü, ;'gsf]zL ufpFkflnsfsf afl;Gbfx?sf] nflu @=%Ü /
l;l¢r/0f g=kf=sf afl;Gbfx?sf] nflu @=%Ü u/L hDdf !)Ü ;fwf/0f z]o/ lgisfzg ug{ nfluPsf] / af+sL #$Ü cyf{t
?=@&,@*,%),)))÷— -cIf]?kL ;QfO{; s/f]8 c7fO{; nfv krf; xhf/_ /sd a/fa/sf] ?=!))÷— c+lst b/sf] @&,@*,%)) lsQf-j}b]lzs
/f]huf/Ldf /x]sf] g]kfnLx?nfO{ !)Ü cyf{t @,&@,*%) lsQf,;fd"lxs nufgL sf]ifnfO{ %Ü cyf{t !,#^,$@% lsQf tyf sd{rf/Lx?nfO{ @Ü
cyf{t %$,%&) lsQf ;d]t_ ;fwf/0f z]o/ ;j{;fwf/0fdf lgisfzg ug{ nfluPsf] 5 .
g]6jy{ ;DaGwL ljj/0f M
jf:tljs *cf=j=)&*÷&( k|If]lkt
ljj/0f cflZjg d;fGtsf]
)&^÷&& )&&÷&* )&*÷&( )&(÷*) )*)÷*! )*!÷*@
ckl/is[t
k|lt z]o/ g]6jy{ -?=_ %!=@& $(=*$ ^)=^@ ^^=@* *%=!& ($=#$ !)$=!#
k|lt z]o/ cfDbfgL -?=_ -^=#@_ -@=(%_ !)=&* %=(^ &=@# (=!& (=&(
;+lrt gfkmf÷gf]S;fg -? -@!@,@)$_ - -!&^,(*$_ -!,%!,%!*_ -!!(,)))_ -$%,$@&_ ##,!!!
xhf/df_ @@%,$$!_
b/vf:t ;fy k|lt ;fwf/0f z]o/ ?= !))÷— cls+t d"Nosf b/n] ztk|ltzt e'QmfgL dfu ul/Psf]]
df]n'Ë xfO8«f]kfj/ sDkgL lnld6]8 -& d]=jf=_ laB't pTkfbgsf] s"n nfut M !$%=( s/f]8 ljB't pTkfbg cg'dltsf] afFsL cjlw M @^ jif{
;fwf/0f nufgL lkmtf{ x'g] cjlw M*=!jif{ l8:sfpG6df nufgL lkmtf{ x'g] cjlw M!(=% jif{ k|lt d]ufjf6 nfut M @)=* s/f]8

nufgLdf x'g] hf]lvd ;DaGwL pb\3f]if0f M

lwtf]kqdf ul/g] nufgLdf hf]lvd x'g] ePsf]n] To:tf] hf]lvdsf] d"NofÍg ug]{ k|d'v bfloTj nufgLstf{ :jo+sf] x'g]5 / lwtf]kqsf] lgisfzg
d'Non] ;"rLs/0f kZrft lwtf]kq ahf/df x'g] sf/f]jf/ d"No ghgfpg] x'Fbf o; ljj/0fkqsf] bkmf u -*_, k[i7 ;+Vof -!@,!# / !$_df
pNn]lvt hf]lvdx? ;d]tsf] cWoog u/]/ dfq nufgL ;DaGwL lg0f{o lng ;'emfj ul/G5 .

lgodg lgsfosf] hjfkmb]xLtf g/xg] pb\3f]if0f M

o; ljj/0fkqdf pNn]lvt lwtf]kq ;fj{hlgs lgisfzgsf nflu tof/ ul/Psf] o; ljj/0fkqnfO{ lwtf]kq ;DaGwL sfg"g adf]lhd g]kfn
lwtf]kq af]8{n] :jls[lt k|bfg u/]sf] 5 . o;/L af]8{n] ljj/0fkqdf :jLs[lt k|bfg u/]sf] sf/0faf6 s;}n] klg g]kfn lwtf]kq af]8{, sDkgL
/lhi6«f/sf] sfof{no jf ;Da4 cGo lgodg lgsfon] ljj/0fkqdf pNn]lvt s'/fsf] ;Totf jf lgisfzgstf{ jf kl/of]hgfsf] cfly{s
;Ifdtfsf] af/]df s'g} k|sf/sf] k|Tofe"t u/]sf] jf lhDd]jf/L lnPsf] dflgg] 5}g .
o; ljj/0fkq cg';f/ lgisfzg ul/g] ;fwf/0f z]o/sf] nflu lwtf]kq btf{ tyf lgisfzg lgodfjnL, @)&# -t];|f] ;+zf]wg ;lxt_ df ePsf]
Joj:yf adf]lhd ljQLo ;+:yfsf] /]l6Ë u/fpg' kg]{ ePsf]n] qm]l86 /]l6Ë lgodfjnL, @)^* sf] lgod # adf]lhd g]kfn lwtf]kq af]8{af6
cg'dlt k|fKt qm]l86 /]l6Ë ;+:yf Oqmf g]kfn lnld6]8 ;g/fOh lahkfs{ 5}7f}+ tNnf, l8NnLahf/, sf7df08f}af6 qm]l86 /]l6Ë u/fO{
æICRANP-IR BBÆ æICRA NP Issuer Rating Double B] Æ k|df0fkq k|fKt u/]sf] 5 . æICRA NEPAL Issuer Rating Double B Æ n]
sDkgLsf] ljQLo bfloTjsf] ;dod} ;]jf ug]{ ;DaGwdf k"j{ lgwf{l/tsf] dWood hf]lvd /x]sf] (Moderate risk of default regarding timely
servicing of financial obligations) eGg] a'lemG5 . qm]l86 /]l6Ë ;DaGwL ljj/0f o; ljj/0fkqsf] bkmf @@ -6_df pNn]v 5 .
O:o'/ /]l6Ë k|bfg u/]sf] ldltM @)&(÷)!÷!% -tbg';f/ clk|n @*, @)@@_ axfn /xg] cjlwM@)*)÷)!÷!% -tbg';f/ clk|n @*, @)@#_

cfof]hgf k|efljt If]qsf afl;Gbfx? tyf sDkgLsf sd{Rff/Lx?nfO{ laqmL ljt/0f u/]sf] z]o/ ;j{;fwf/0fx?nfO{ lgisfzg u/]sf]
z]o/ afF8kmfF8 u/]sf] ldltn] # jif{ k'/f geP ;Dd c? s;}nfO{ laqmL tyf x:tfGt/0f ug{ kfOg] 5}g . L
g]kfn lwtf]kq af]8{af6 ljj/0fkqdf :jLs[tL k|fKt ldlt M @)&(÷)*÷!(
sDkgL /lhi6«f/sf] sfof{nodf ljj/0fkq btf{ ePsf] ldlt M @)&(÷)*÷@*
lwtf]kq lgisfzg v'Nnf ldlt M @)&(÷!!÷)$
lwtf]kq lgisfzg aGb x'g] ldlt -l56f]df_ M @)&(÷!!÷!) -a}+lsË ;do kZrft\ ._
lwtf]kq lgisfzg aGb x'g] ldlt -clGtd_ M @)&(÷!!÷!* -a}+lsË ;do kZrft\ ._
lwtf]kq lgisfzg tyf laqmL k|aGws M
kf]=a=g+=!@)%%, sdnkf]v/L, sf7df08f}+
kmf]g g $%@*^^), $%@*%%)
Email : info@sunrisecapitalcom.np, Website : www.sunrisecapital.com.np
v=! ljj/0fkqdf k|of]u ePsf k|fljlws tyf cGo zAbfjnLsf] kl/efiff M
-s_ æljj/0fkqÆ eGgfn] lwtf]kq ;DaGwL P]g, @)^# sf] bkmf #) tyf sDkgL P]g, @)^# sf] bkmf @#
cGtu{t k|sflzt ljj/0fx? ePsf] k'l:tsfnfO{ ;Demg' kb{5 .
-v_ ælwtf]kq lgisfzg tyf laqmL k|aGwsÆ eGgfn] ;g\/fO{h Soflk6n lnld6]8, sdnkf]v/L sf7df08f}nfO{
;Demg' kb{5 .
-u_ ælwtf]kqÆ eGgfn] ;+ul7t ;+:yfn] hf/L u/]sf] z]o/ ;Demg' kb{5 .
-3_ æ;+ul7t ;+:yf÷sDkgLÆ eGgfn] ;fj{hlgs lgisfzgstf{ sDkgL df]n'Ë xfO8«f]kfj/ sDkgL lnld6]8nfO{
;Demg' kb{5 .
-ª_ æ;+sng s]Gb|Æ eGgfn] ;fj{hlgs lgisfzgsf] nflu tof/ ul/Psf] ljj/0fkq / b/vf:t kmf/d k|fKt
ug{ ;lsg] tyf b/vf:t kmf/d ;fy /sd a'emfpg ;lsg] u/L tf]lsPsf ;+:yfx?nfO{{ ;Demg' kb{5 .
-r_ ælgisfzg a}+sÆ eGgfn] ;fj{hlgs lgisfzgaf6 ;+sng x'g cfPsf] /sdnfO{ hDdf ug{sf] nflu
tf]lsPsf] jfl0fHo a}+snfO{ ;Demg' kb{5 .
-5_ ælgodg lgsfoÆ eGgfn] g]kfn lwtf]kq af]8{, sDkgL /lhi6«f/sf] sfof{nonfO{ ;Demg' kb{5 .
-h_ æ;+:yfks, ;+rfns, sfo{sf/L k|d'v tyf Joj:yfkgÆ eGgfn] df]n'Ë xfO8«f]kfj/ sDkgL lnld6]8sf]
;+:yfks, ;+rfng, sfo{sf/L k|d'v tyf Joj:yfkgnfO{ ;Demg' kb{5 .
-em_ æaf]8{Æ eGgfn] g]kfn lwtf]kq af]8{nfO{{ ;Demg' kb{5 .
-~f_ æljQLo ljj/0fÆ eGgfn] ;+ul7t ;+:yfsf] jf;nft, cfo Joo ljj/0f, gub k|jfx ljj/0f ;Demg' kb{5
/ ;f] zAbn] O{lSj6Ldf ePsf] kl/jt{gsf] ljj/0f / n]vf gLlt tyf n]vf;+u ;DalGwt l6Kk0fLx?
;d]tnfO{ hgfp+b5 .
-6_ æk|lt z]o/ cfDbfgLÆ eGgfn] sDkgLsf] s/ kl5sf] gfKfmfnfO{ s'n z]o/ ;+Vofn] efu ubf{ cfpg]
k|ltKfmnnfO{ ;Ddmg' k5{ .
-7_ æk|lt z]o/ g]6jy{ÆeGgfn] sDkgLsf] s'n g]6jy{nfO{ s'n ;]o/ ;+Vofn] efu ubf{ cfpg] k|ltKfmnnfO{
;Demg' k5{ .
-8_ æ;fwf/0f nufgLdf lkmtf{ x'g] cjlwÆ eGgfn] nufgLstf{n] kl/of]hgfsf] k|f/lDes nfut k'gM k|flKt ug{
nfUg] ;do xf] .
-9_ æl8:sfpG6df nufgL lkmtf{ x'g] cjlwÆ eGgfn] cjlw jif{sf] ;+Vof xf] h'g kl5 ;+roL 5'6df (Discount
rate) k|fKt gub k|jfxn] k|f/lDes nufgLnfO{ k'gM k|fKt ub{5 .
-0f_ æcfof]hgf k|efljt If]qÆ eGgfn] k|rlnt sfg"g adf]lhd :yfkgf ul/Psf] pBf]u jf ;+Rffng ul/Psf]
cfof]hgfsf] jftfj/0fLo k|efj d'Nof+sg k|ltj]bgdf pNn]lvt k|efljt If]q ;Demg'kb{5 .
-t_ æj}b]lzs /f]huf/Ldf /x]sf] g]kfnLÆ eGgfn] g]kfn ;/sf/sf] ;DalGwt lgsfoaf6 >d :jLs[lt k|fKt
u/L ljb]zdf a;L /f]huf/ ul//x]sf g]kfnLx? hgfpF5 .
-y_ æljk|]if0f -/]ld6ofG;\_ art vftfÆ eGgfn] g]kfn ;/sf/sf] ;DalGwt lgsfoaf6 >d :jLs[lt k|fKt u/L
ljb]zdf /f]huf/ ul//x]sf g]kfnL gful/ssf] af]8{af6 lwtf]kq v/Lb ;+sng ;DaGwL sfo{ ug{ cg'dlt
k|fKt cf:jf ;b:o a}+s jf ljQLo ;+:yfdf ;DalGwt JolQmsf] gfddf /x]sf] ljk|]if0f -/]ld6ofG;\_ art
vftf ;Demg'k5{ .

1
v=@ ljj/0fkq tyf b/vf:t kmf/d k|fKt ug]{ / a'emfpg] :yfg M
l;=g+= ljj/0fkq k|fKt ug]{ :yfgsf] gfd / 7]ufgf
!= ;g\/fOh Soflk6n lnld6]8, sdnkf]v/L, sf7df08f} / j]j;fO6 M www.sunrisecapital.com.np
@= df]n'Ë xfO8«f]kfj/ sDkgL lnld6]8, /ljejg, sf7df08f} / j]j;fO6 Mwww.molunghydropower.com.np
ljj/0fkq x]g{ kfpg] :yfgsf] gfd / 7]ufgf

!= g]kfn lwtf]kq af]8{, v'dn6f/, nlntk'/sf] j]j;fO6 M www.sebon.gov.np

l;=g+= b/vf:t kmf/fd k|fKt ug]{ / a'emfpg] :yfg

cfof]hgf k|efljt If]q cf]vn9'Ëf lhNnfsf afl;Gbfx?sf] xsdf M cof]hgf k|efljt If]qsf :yfgLo
afl;Gbfx?sf] nflu b]xfo adf]lhdsf :yfgx?af6 ef}lts ?kdf b/vf:t kmf/fd lng] Joj:yf ul/Psf]
5.
! Dff]n'Ë ufpFkflnsf l:yt ;g\/fOh a}+s ln=, tyf d'lQmgfy ljsf; a}+s ln=
@ ;'gsf]zL ufpFkflnsf l:yt df5fk'R5|] a}+s ln=
# l;l4r/0f gu/ kflnsf l:yt ;g\/fOh a}+s ln=, d'lQmgfy ljsf; a}+s ln, s'df/L a}+s ln= tyf nIdL
a}s ln=
$ g]kfn lwtf]kq af]8{af6 :jLs[lt k|fKt u/]sf] ;Dk"0f{ ;L—cf:jf (C-ASBA) ;b:otf k|fKt u/]sf ;Dk"0f{
a}+s tyf ljQLo ;+:yfx? / ltgsf tf]lsPsf zfvf sof{nox? .
cfof]hgf k|efljt If]qsf :yfgLo afl;Gbfn] z]o/ v/Lb cfj]bg k|fKt ug{sf nflu b/vf:t kmf/d jfkt ?=@÷–
-b'O{ ?k}of_ z'Ns a'emfpg' kg]{5 .
j}b]lzs /f]huf/Ldf /x]sf g]kfnLx?sf nflu b/vf:t kmf/fd k|fKt ug]{ / b/vf:t a'emfpg] :yfgx? M
! j}b]lzsf /f]huf/Ldf /]xsf g]kfnLx?sf nflu g]kfn lwtf]kq af]8{af6 l;—cf:af (C-ASBA) ;b:otf
k|fKt u/]sf ;Dk"0f{ a}+s tyf ljQLo ;+:yfx? / ltgsf tf]lsPsf zfvf sfof{nox? .
;j{;fwf/0f z]o/wgLx?sf] xsdf M
!= ;j{;fwf/0fsf] nflu g]kfn lwtf]kq af]8{af6 l;—cf:af (C-ASBA) ;b:otf k|fKt u/]sf ;Dk"0f{ a}+s
tyf ljQLo ;+:yfx? / ltgsf tf]lsPsf zfvf sfof{nox? .

2
u=! lwtf]kq lgisfzg tyf laqmL k|aGwssf] pb\3f]if0f M
xfdLnfO{ lgisfzgstf{ sDkgL tyf o;sf ;+:yfks÷;~rfnsx?n] pknAw u/fPsf] ljj/0f tyf
hfgsf/Lx?sf] cfwf/df o; sDkgLsf]] Joj:yfksLo, k|fljlws / cfly{s kIfsf] ljZn]if0ffTds cWoogaf6
xfdL ;Gt'i6 x'g'sf] ;fy} ljj/0fkqdf n]lvPsf cfly{s ljj/0fx? / cGo hfgsf/L tYout, k"0f{ / ;xL
b]lvPsf]n] nufgLstf{x?nfO{ nufgL ;DaGwL lg0f{o lng d2t k'Ug] s'/fk|lt ljZj:t eO{ xfdLn] of]
ljj/0fkq :jLs[ltsf nflu g]kfn lwtf]kq af]8{df lwtf]kq ;DaGwL P]g, @)^# / lwtf]kq btf{ tyf lgisfzg
lgodfjnL, @)&# cg'?ksf] of]Uotf k'u]sf] k|lta4tf kq -8\o" 8]lnh]G;\ ;l6{lkms]6_ k|:t't u/]sf 5f}+ .
u=@ ;+ul7t ;+:yfsf] pb\3f]if0f M
u=@=-s_ ;~rfnsx?sf] lhDd]jf/L tyf hjfkmb]lxtf ;DaGwL pb\3f]if0f M
of] ljj/0fkq xfdLn] k'g/fjnf]sg u/L cg'df]bg u/]sf] x'gfn] o; ljj/0fkqdf pNn]v ul/Psf ljj/0f tyf
hfgsf/Lx?sf ;fy} lgisfzg tyf laqmL k|aGwsnfO{ lbPsf] ljQLo ljj/0f, cGo ljj/0f, hfgsf/L tyf
sfuhftx?sf] ;Totf / z'4tf k|lt / lwtf]kq btf{ tyf lgisfzg cg'dlt k|of]hgsf nflu g]kfn lwtf]kq
af]8{df k]z ul/Psf] ljj/0fkq / ;f];Fu ;DalGwt cGo ljj/0f tyf hfgsf/Lx?sf] z'4tf tyf ;Totfk|lt
o; ljj/0fkqdf x:tfIf/ ug]{ xfdL ;~rfnsx? JolQmut jf ;fd"lxs ?kdf hjfkmb]lxtf axg ub{5f}+ /
lwtf]kq lgisfzgsf nflu tf]lsPsf zt{ tyf cfjZostfx?sf] ;DaGwdf cfjZos hfgsf/L lnO{ xfdL of]
pb\3f]if0f ub{5f}+ sL tf]lsPsf zt{ tyf cfjZostfx? ;a} kfngf u/]sf 5f}+ / nufgLstf{x?nfO{ ;"–;"rLt
ub}{ nufgL ;DaGwL lg0f{o lng cfjZos s'g} ljj/0f, ;"rgf tyf hfgsf/Lx? n'sfPsf 5}gf}+ .
u=@=@ sDkgLsf]] hjfkmb]lxtf ;DaGwL pb\3f]if0f M
o; ædf]n'Ë xfO8«f]kfj/ sDkgL lnld6]8Æn] k|sflzt u/]sf] ljj/0fkq, ;fj{hlgs k|:tfj, lj1fkg jf cGo
s'g} ;"rgfdf pNn]v ePsf ljj/0f afx]s ;+ul7t ;+:yfsf] jf/]df k|sflzt cGo s'g} ;"rgf jf hfgsf/Lsf]
hjfkmb]xLtf ;+ul7t ;+:yfdf g/xg] / To:tf] ;"rgf, hfgsf/L jf ljj/0fsf] cfwf/df nufgL u/]df ;f] sf]
hf]lvd nufgLstf{ :jo+n] axg ug'{kg]{5.
u=@=# lgodg lgsfosf] lgodg Joj:yfsf] kfngf ;DaGwL pb\3f]if0f M
k|rlnt sfg"g cg';f/ cfkm\gf] pBf]u÷Joj;fo÷;]jf;Fu ;DalGwt lgodg lgsfo -h:t}M sDkgL /lhi6«f/sf]
sfof{no, ljB't ljsf; ljefu, g]kfn ljB't k|flws/0f cflb_ sf] ;fj{hlgs lgisfzg tyf cGo lgodg
Joj:yf tyf lgb{]zgx?sf] kfngf u/]sf] s'/fsf] pb\3f]if0f ub{5f}+ . ;fy} ;fj{hlgs lgisfzg k|of]hgsf] nflu
tof/ ul/Psf] ljj/0fkq / ;f] df pNn]lvt ;Demf}+tf jf cGo ljj/0fx? g]kfn lwtf]kq af]8{, g]kfn :6s
PS;r]Gh lnld6]8df k]z u/]sf 5f}+ . sDkgL /lhi6«f/sf] sfof{noaf6 ldlt @)&(÷)&÷#) df sDkgL
cBfjlws ;DaGwL kq k|fKt u/]sf] 5 .

u=@=$ ;+:yfks, ;~rfns tyf sfo{sf/L k|d'v ;DaGwL pb\3f]if0f M

-s_ o; sDkgLsf]] ;+:yfks, ;~rfns jf sfo{sf/L k|d'v shf{ ;"rgf s]Gb|sf] sfnf] ;"rLdf /x]sf 5}gg\ .
-v_ o; sDkgLsf] ;~rfns jf sfo{sf/L k|d'v sfnf] ;"rLdf /x]sf] cGo ;+ul7t ;+:yfdf ;~rfns jf
sfo{sf/L k|d'v /x]sf 5}gg\ .
-u_ ;fj{hlgs lgisfzg dfkm{t ;j{;fwf/0faf6 k"FhL ;+sng u/L j]kQf ePsf jf ;~rfngdf g/x]sf jf
nufgLstf{x?sf] lxt ljk/Lt x'g] sfo{ u/]sf] ;+ul7t ;+:yfsf] ;~rfns jf sfo{sf/L k|d'v o;
sDkgLsf]] ;~rfns jf sfo{sf/L k|d'v /x]sf 5}gg\ .
-3_ lwtf]kq ;DaGwL sfg'g ljk/Lt sfo{ u/]sf] sf/0f lwtf]kq ahf/ jf lwtf]kq Joj;foLsf] cg'dltkq
vf/]h ePsf] bz jif{ k"/f gePsf] ;+ul7t ;+:yfsf] ;~rfns jf sfo{sf/L k|d'v o; ;+ul7t ;+:yfsf]
;~rfns jf sfo{sf/L k|d'v /x]sf 5}gg\ .
-ª_ o; sDkgLsf] ;~rfns jf sfo{sf/L k|d'v lwtf]kq ;DaGwL P]gsf] bkmf !)* adf]lhd cof]Uo /x]sf
5}gg\ .
u=# ;+ul7t ;+:yf ;DaGwL hfgsf/L M
u=#=! ;+ul7t ;+:yfsf] k[i7e"dL M

3
-s_ ;+:yfsf] gfd M df]n'Ë xfO8«f]kfj/ sDkgL lnld6]8 .
(Molung Hydropower Company Limited)
-v_ s'g P]g cGtu{t :yflkt ePsf] ;f] s'/f M sDkgL P]g, @)^# cGtu{t :yflkt .
-u_ ;+:yfsf] /lhi68{ 7]ufgfM o; sDkgLsf]] /lhi68{ -s]Gb|Lo_ sfof{no afUdtL c~rn, sf7df8f}+ lhNnf,
sf7df8f}+ dxfgu/kflnsf, /ljejgdf /x]sf] 5 .
-3_ sf/f]af/ ug]{ d"Vo :yfg M o; sDkgLsf] hnljB't pTkfbg s]Gb| cf]vn9'Ëf lhNnfsf] df]n'Ë ufp+kflnsf
j8f g+=@ / $ df /x]sf] 5 .
-ª_ sDkgLsf]] :yfkgfsfn b]lv xfn;Ddsf] ;+lIfKt Oltxf; / ;+ul7t ;+:yfsf] d'Vo p2]Zox? M
Dff]nË xfO{8«f]kfj/ sDkgL k|f= ln= ldlt @)^&÷!)÷#! Uft] :yfkgf u/L tt\ kZrft ldlt
@)&^÷)*÷@^ af6 df]nË xfO{8«f]kfj/ sDkgL ln=sf] ?kdf :yfkgf eO{ sfo{ ub}{ cfPsf] 5 . ldlt
@)^(÷!!÷@!df ljw't vl/b ljls| ;Demf}tf ;DkGg u/L ldlt @)&!÷)^÷!@ df Generation
License k|fKt u/L cfof]hgfnfO{ lgdf{0fsf] nflu ltj|tfsf ;fy cuf8L j8fOof] . df]n'Ë xfO{8«f]kfj/
sDkgL ln=4f/f df]n'Ë vf]nf hnljB't cfof]hgfsf] lgdf{0f lgwf{/Lt ;dodf ;DkGg ul/Psf] 5 .
cfof]hgfsf] Ifdtf & d]=jf= /x]sf] 5 . of] cfof]hgf k'jL{ g]kfnsf] cf]vn9'Ëf lhNnfsf] df]n'Ë
ufp+kflnsf cGtu{t j8f g+=@ / $ df kb{5 .
o; cfof]hgfsf] lgdf{0f sfo{sf] ;'?jft ldlt @)&@ kf}ifdf ul/Psf] t/ lgdf{0fsf] ;'? cj:yfdf g}
ef/t4f/f g]kfndf gfsfaGbL ul/Psf] lyof] . pQm gfsfaGbLsf] ;dodf o; sDkgLsf] s'zn
Joj:yfkgsf] sf/0f gfsfaGbLsf] ;dodf klg nuftf/ ?kdf cfof]hgf lgdf{0f sfo{ cufl8 a9fO
lgwf{l/t ;dodf cfof]hgfsf] ;Dk"0f{ sfo{ ;DkGg ul/Psf] 5 .
df]n'Ë vf]nf hnljw't cfof]hgfjf6 ldlt @)&$÷!@÷!@ ut] b]lv ljw't pTkfbg u/L g]=lj=k|f=sf] ##
s]=le= k|zf/0f nfOgdf ;do ;dodf over voltage/Earth fault/over current af6 x'g] cj?¢ jfx]s
cGo ;do nuftf/ ?kdf g]kfn ljw't k|flws/0fnfO{ ljw't k|jfx u/Lb} cfO/x]sf] 5 .
;+ul7t ;+:yf cgs xfO8«f]kfj/ sDkgL k|f=ln=sf] d'Vo p2]Zo ljleGg hnljB't cfof]hgfdf nufgL
ug]{ /x]sf] 5 .
lah'nL cfDbfgLsf] cfwf/
ljw't vl/b ljls| ;Demf}tf cg';f/ k6s k6s u/L d"Noj[l¢ sfod x'g] tflnsf
Cjlw ;'Vvf ofd -kf}if jiff{ ofd -j}zfv b]lv
-Jofkfl/ pTkfbg z'? x'g] ldlt (COD) sfod ePsf] dlxgf b]lv r}q ;Dd -? dfu{ ;Dd -? k|lt
nut} kl5sf] dlxgfnfO{ klxnf] dlxgf dfgL cjlw u0fgf x'g]ul/_ k|lt o'lg6_ o'lg6_
klxnf] dlxgf b]lv !@ cf}+ dlxgf ;Dd *.$) $.*)
!# cf}+ dlxgf b]lv @$ cf}+ dlxgf ;Dd *.^% $.($
!% cf}+ dlxgf b]lv #^ cf}+ dlxgf ;Dd *.() %.)(
#& cf}+ dlxgf b]lv $* cf}+ dlxgf ;Dd (.!^ %.@#
$( cf}+ dlxgf b]lv ^) cf}+ dlxgf ;Dd (.$! %.#*
^! cf}+ dlxgf b]lv ;Demf}tf cjlw ;Dd (.^^ %.%@

Calculation basis for Payback, Internal rate of return and Net Present Value
-? xhf/df_
Cash flow Cumulative
Year (net of Cumulative Cash Discount Discounted Discounted Cash
depreciation) flow factor@ 11% Cash Flow Flow
Net Worth
as Outflow (1,418,736) 1 (1,418,736) (1,418,736)
1 2080 456,981 456,981 0.9009 411,694 (1,007,041)
2 2081 119,360 576,342 0.8116 96,876 (910,165)
3 2082 124,238 700,580 0.7312 90,842 (819,323)
4 2083 119,843 820,424 0.6587 78,944 (740,378)

4
5 2084 129,892 950,316 0.5935 77,084 (663,294)
6 2085 140,160 1,090,477 0.5346 74,935 (588,358)
7 2086 150,732 1,241,210 0.4817 72,601 (515,756)
8 2087 162,017 1,403,227 0.4339 70,303 (445,452)
9 2088 162,017 1,565,245 0.3909 63,336 (382,116)
10 2089 162,017 1,727,263 0.3522 57,060 (325,056)
11 2090 162,017 1,889,280 0.3173 51,405 (273,650)
12 2091 162,017 2,051,298 0.2858 46,311 (227,339)
13 2092 162,017 2,213,316 0.2575 41,721 (185,617)
14 2093 162,017 2,375,333 0.2320 37,587 (148,030)
15 2094 162,017 2,537,351 0.2090 33,862 (114,167)
16 2095 162,017 2,699,369 0.1883 30,506 (83,661)
17 2096 162,017 2,861,386 0.1696 27,483 (56,177)
18 2097 162,017 3,023,404 0.1528 24,759 (31,417)
19 2098 162,017 3,185,422 0.1377 22,306 (9,111)
20 2099 162,017 3,347,439 0.1240 20,095 10,984
21 2100 162,017 3,509,457 0.1117 18,104 29,088
22 2101 162,017 3,671,475 0.1007 16,310 45,398
23 2102 162,017 3,833,492 0.0907 14,693 60,092
24 2103 162,017 3,995,510 0.0817 13,237 73,329
25 2104 162,017 4,157,528 0.0736 11,925 85,255
26 2105 162,017 4,319,545 0.0663 10,743 95,999

s'n jt{dfg d'No (Net Present Value at 11%) ?=(%,(((,^!)

cfGtl/s k|ltkmn b/ (Internal Rate of Return) 12%

;fwf/0f nufgLdf lkmtf{ x'g] cjlw (Payback Period ) *=! jif{

l8:sfp6df nufgL lkmtf{ x'g] cjlw (Discounted Payback Period) !(=% jif{
laB't pTkfbgsf] s"n nfut (Total Project Cost) !$%=( s/f]8
k|lt d]ufjf6 nfut (Cost Per Megawatt) @)=* s/f]8

PPA Table
cg'dflgt zlQm cTolws dfl;s zlQm ;Demf}tf zlQm
Dlxgf lbg
ls=jf= ls=jf= ls=jf=÷306f
a}zfv 31 1,884 4,502 1,331,814
h]i7 31 1,834 6,930 1,295,956
c;f/ 32 6,930 6,930 5,056,128
>fj0f 31 6,930 6,930 4,898,124
Effb« 31 6,930 6,930 4,898,124
c;f]h 31 6,930 6,930 4,898,124
sflt{s 30 6,930 6,930 4,740,120
d+l;/ 29 4,212 6,930 2,785,209
k'if 30 2,653 5,617 1,814,634
Dff3 29 2,194 3,322 1,450,666
kmfu'g 30 1,778 3,313 1,216,458
r}q 30 1,965 3,167 1,343,848
hDdf 365 35,729,205

5
 ;'Vvf ofd (Dry season) / aiff{ ofd (Wet season) ko energy table
;'Vvf ofdsf] hDdf Oglh{ kWh 5,825,606
aiff{ ofdsf] hDdf Oglh{ kWh 29,903,599
hDdf kWh 35,729,205
Note - ;'Vvf ofd k'if b]lv r}q dlxgf, aiff{ ofdsf] j}zfv b]lv d+l;/ dlxgf

Contract energy, actual energy and income

;Demf}tf zlQm s'n pTkfbg zlQm cfDbfgL &*÷&( s'n pTkfbg zlQm cfDbfgL &(÷*)
dlxgf
ls=jf=÷306f &*÷&( ? &(÷*) ?
a}zfv 1,331,814 1,000,000.00 5,520,686.22
h]i7 1,295,956 1,295,956.00 6,972,243.28
c;f/ 5,056,128 4,354,009.11 23,424,569.02
>fj0f 4,898,124 3,457,437.80 18,082,395.95 4,603,481.41 24,766,729.98
Effb« 4,898,124 3,723,996.66 194,766,502.53 4,548,894.32 24,473,051.46
c;f]h 4,898,124 3,787,362.79 19,807,907.44 4,818,582.97 25,923,976.37
sflt{s 4,740,120 3,072,198.42 16,067,597.73 3,526,100.08 18,970,418.45
d+l;/ 2,785,209 1,882,860.00 9,881,349.19
k'if 1,814,634 11,94,402.69 10,940,728.68
Dff3 1,450,666 844,760.89 7,738,009.74
kmfu'g 1,216,458 979,291.32 8,970,308.53
r}q 1,343,848 856,875.00 7,848,975.04
hDdf 35,729,205 26,449,150.69 154,731,273.35 18,711,078.70 94,134,176.26

-r_ sDkgLsf] s'g} ;xfos sDkgL ePdf ;f] ;xfos sDkgLsf] gfd, O{ltxf; / To;sf d'Vo p2]Zox?sf
;fy} To;df ePsf] nufgLsf] c+z -k|ltztdf_ M ;+ul7t ;+:yfsf] s'g} ;xfos sDkgL /x]sf] 5}g .
-5_ b]xfosf s'/fx? ;d]t pNn]v ug'{kg]{ -nfu" x'g] xb;Dd_ M
1. ;+ul7t ;+:yfn] pTkfbg ug]{ j:t' jf k|bfg ug]{ ;]jfx? M hnljB't cfof]hgfsf] lgdf{0f u/L
ljB't pTkfbg, ;+rfng/ Joj:yfkg ug]{ .
2. k|of]u ePsf] jf ul/g] k|ljlw M hn>f]tsf] pkof]u ul/ hnljB't pTkfbg ug]{ .
3. s'g} a|f08g]d, k|ltlnlk clwsf/, 6«]8dfs{, Ohfhtkq, k|fljlws ;xof]u ;Demf}tf / ;+ul7t
;+:yf;Fu ;DalGwt af}]l4s ;DklQ xs clwsf/ M gePsf] .
4. ;+ul7t ;+:yfn] cf]u6]sf] ahf/ If]q M sDkgLn] pTkfbg ug]{ ljB't g]kfn ljB't k|flws/0f;+u
ljB't vl/b laqmL ;Demf}tf u/]/ /fli6«o k|;f/0f nfOg dfkm{t\ k|;f/0f tyf ljt/0f ug]{ Joj:yf
ldnfOPsf] 5 / sDkgLn] cf]u6]sf] ahf/ If]q b]ze//x]sf] 5 .
5. gofF pTkfbg tyf ;]jf ;DaGwL of]hgf M yk gof+ hnljB't cfof]hgfx?sf] ljsf; ug]{ .
6. pTkfbg tyf ;]jfsf] k|d'v ahf/ / To;sf] dfu / laqmL ljt/0fsf] tl/sfM sDkgLn] pTkfbg ug]{
ljB't g]kfn ljB't k|flws/0f;+u ljB't vl/b laqmL ;Demf}tf u/L /fli6«o k|;f/0f nfOg dfkm{t
laqmL ljt/0f ug]{ Joj:yf ldnfOPsf] 5 eg] sDkgLsf] k|d'v ahf/ b]ze/ /xg]5 .
7. pTkfbg÷;+rfng Ifdtf / ;f] sf] pkef]u l:yltM df]n'Ë xfO{8«f]kfj/ sDkgL ln=n] & d]ufjf6
Ifdtfsf] hnljB't s]Gb| lgdf{0f u/L @)&$÷!@÷!@ af6 g]=lj=k|f= sf] k|zf;g nfO{gsf] sf/0fn]
cj?¢ ePsf] ;do afx]s cGo ;do nuftf/ ?kdf Jofkfl/s pTkfbg u/L g]kfn ljB't
k|flws/0fnfO{ laqmL ub}{ cfPsf] 5 .
8. @)&$÷!@÷!@ ut]af6 k"0f{ Ifdtfdf ;+rfng ul/b} cfPsf] 5 .
9. sRrf kbfy{sf] >f]t, lsl;d / pknAwtfM df]n'Ë vf]nfdf ePsf] kfgL .
10. u'0f lgoGq0fsf] nflu ul/Psf] Joj:yfM hnljB't ;+/rgf / ljB't pks/0fx? pko'Qm cj:yfdf
/fVg cfjZos Joj:yf ul/Psf] 5 .
11. cg';Gwfg tyf ljsf;Mgof+ cfof]hgfx?sf] cWoog, ljZn]ifg Pj+ ljsf; sfo{sf nflu sDkgLn]
pko'Qm hn;|f]tsf] vf]hL ul//x]sf] 5 .
12. ljut !@ dlxgfsf] cjlwdf ;+:yfsf] ;+rfngdf c;/ kg]{ u/L ePsf] jfwf, JojwfgM
ljut b'O{ jif{ cuf8L sf]le8 !(sf] sf/0fn] o; cfof]hgfsf] dd{t sfo{df k|ToIf ?kdf c;/ kg{
uof] . aflx/aff6 dd{t sfo{ ug]{ bIf hgzStL n}hfg ;Sg] jftfj/0f gePsf]] sf/0fn] b'O{ jif{
;Dd /g/, ufO8 Eofg, dflyNnf] tn se/, k|];/ l/lnh eNe, 8«fkm\6 6\o"a cflbsf] lagf dd{t g}

6
 ;+rfng ug{' kg]{ afWotf kg{ uof] / sd Olkml;P]G;Ldf s]xL hf]vLd eP klg ljB't u[x lg/Gt/
?kdf ;+rfngdf g} /flvof] . ut jif{ @)&* jiff{t ;lsP/ vf]nfdf kfgLsf] jxfj sd x'g] ljlts}
@ d+;L/ @)&* df Pp6f d];Lg (unit-2) vf]nL / pSt d];Lgsf] /g/, ufO8 Eofg, dflyNnf] /
tNnf] se/, k|];/ l/lnh eNe, 8«fkm\6 6\o"a cflbsf] efux? cfk"lt{ ug{ g]kfn xfO8«f] P08
On]lS6«saf6 k|fKt u/L ldlt @# df3 @)&* sf] :yfkgf sfo{ ;kmntfsf ;fy u/Lof] . dd{t
sfo{ kZrft pTkfbgdf ;'wf/ x'g uPsf] 5 .
13. dhb'/ ;+u7g;+usf] ;DaGw / ljutdf s'g} cf}Bf]lus ljjfb ePsf] eP, ;f] ;DaGwL ljj/0fM
gePsf] .
14. ahf/, k|lt:kwf{ / cGo ;dfg pBf]ux? aLr ;+ul7t ;+:yfsf] l:yltM Ps dfq ljB't v/Lbstf{
g]kfn ljB't k|flws/0f /x]sf] 5 . df]n'Ë xfO{8«f]kfj/ sDkgL ln=-& d]ufjf6_ sf] s'n ljB't
pTkfbg Ifdtf #%=&@(luufjf6 /x]sf] x'+bf o; cfof]hgfn] ahf/sf] s]xL c+znfO{ dfq kl/k"lt{
ug]{5 . pTkflbt ljB't zlQm g]kfn ljB't k|flws/0f;+u ldlt @)^(÷!!÷@! df ljw't vl/b
ljls| ;Demf}tf u/] cg'?k ldlt @)&$÷!@÷!@ b]lv ljw't pTkfbg u/L g]kfn ljw't k|flws/0fsf]
## s]=le= k|zf/0f nfOgdf ;do ;dodf Earth fault/over voltage/over current sf/0fn] x'g]
cj?¢ jfx]s cGo ;dodf nuftf/ ?kdf g]kfn ljw't k|flws/0fnfO{ ljw't k|jfx u/Lb}
cfO/x]sf] 5 .
df]n'Ë hnljB't cfof]hgfsf] pTkfbLt ljB't g]=lj=k|f=sf] ## s]=le= k|zf/0f nfO{g dfkm{t
cf]vn9'Ëf ;j:6];g x'b} ## s]=le= k|zf/0f nfO{g eO{ nfxfg ;j:6];g ;Dd s/La !%) lsdL
/x]sf] / pSt nfO{g h+un / 8f8fsf8f eP/ hfg] x'bf b}lgs ?kdf *–!) k6s ;Dd ljleGg
sf/0fn] k|zf;g nfO{gsf] Tripping n] ubf{ ;f]r] cg'?k pTkfbg ug{ ;Sg] Ifdtf ePtf klg
pTkfbg ug{ ;ls/x]sf] lyPg . pSt ;dodf ;f]n' !#@ kv k|zf/0f nfO{g lgdf{0fflwg cj:yfdf
/x]sf] lyof] . pSt ;f]n' !#@ kv k|zf/0f nfO{g ;dodf ;DkGg gx'bf o; cfof]hgfn] PPA df
pNn]v u/LP adf]lhd pTkfbg ug{ Tripping sf] sf/0fn] ;Dej x'g ;s]sf] lyPg t/ kmfu'g @,
@)&* df ;f]n' !#@ s]=le k|zf/0f nfO{g ;DkGg eP kZrft ljutsf] jif{ eGbf ljB't pTkfbgdf
pNn]vlgo ?kdf ;'wf/ ePsf] 5 .

;f]n' !## s]eL k|;f/0f nfOg cfO;s] k5Lsf] Generation df a[l4 (Kwh)

महिना 2077/78 2078/79 Generation df a[l4 (Kwh) % a[l4

फागुन 565,724.27 979,291.32 413,567.05 73.10%
चैत्र 423,366.25 856,875.00 433,508.75 102.40%
बैशाख 584,910.67 1,052,299.71 467,389.04 79.91%
जेठ 797,013.00 1,295,956.00 498,943.00 62.60%
कुल 2,371,014.19 4,184,422.03 1,813,407.84 76.48%

k|d'v ;Knfo;{x?sf] ljj/0f -h:t}–;+:yfsf] s"n sf/f]af/df !)Ü jf ;f] eGbf a9Ln] of]ubfg ug{]
15.
;Knfo;{ jf Joj;fosf] nflu ;+ul7t ;+:yf s'g} k|d'v ;Knfo;{;Fu lge{/ 5 eg] t\t;DaGwL
ljj/0f_ M ;f] gePsf] .
u=#=@ ;DklQ ;DaGwL ljj/0f M
-s_ ;+ul7t ;+:yfsf] pks/0f -KnfG6_ tyf cGo ;DklQ /x]sf] :yfg / pks/0f tyf ;DklQsf] cj:yfM
k"FhLs/0f ePsf] ;DklQ M

;DkQL, pks/0f tyf d]zLg/L ljj/0f (Fixed Assets Registrar) -? xhf/df_

Gross Block Depreciation and Amortization Net Block
cjlw ;'? cl3n\nf] o; jif{sf]
Aofn]G; yk s'n jif{ ;Dd nflu s'n /sd 2078-79 2077-78
k"j{fwf/ / lzlj/ ;'ljwf 15,073 - 15,073 1,661 492 2,153 12,920 13,412
kx'Fr ;8s 24,921 - 24,921 2,747 813 3,560 21,360 22,174
Pkf]/r gx/ 7,325 - 7,325 807 239 1,046 6,279 6,518

7
af9L l:knj] / l:knj] gx/ 2,599 - 2,599 286 84 371 2,228 2,313

km\nl;ª Joj:yf ;+u ah/L hfn 7,591 - 7,591 836 247 1,084 6,506 6,754
x]8 kf]v/L l;len 12,777 - 12,777 1,408 417 1,825 10,952 11,369
x]8/];/k]g:6s kfOk l;len 126,460 - 126,460 13,939 4,129 18,068 108,391 112,520
cf]vn9'+uf lakf; /f]8 4,721 - 4,721 520 154 674 4,046 4,200

kfj/xfp; / 6«]/]; l;len 99,360 - 99,360 10,952 3,244 14,196 85,164 88,408
gbL 8fOe;{g skm/ afFw 3,753 - 3,753 413 122 536 3,216 3,339

;Gtf]/L kf]:6 210 - 210 23 6 30 180 187

;]6lnª a]l;g l:knj] / km\nl;ª 76,547 - 76,547 8,437 2,499 10,937 65,610 68,109
l;lensf] ;fy
:6f]/ sf]7f / dd{t sfo{zfnf 8,141 - 8,141 897 265 1,163 6,978 7,243

ljo/ / Og6]s l;len 263,922 - 263,922 29,091 8,617 37,709 226,212 234,830

s]an, s]an 6«] / ;xfos pks/0f 4,794 - 4,794 528 156 685 4,109 4,265
lgoGq0f, ld6l/ª / ;+/If0f Kofgnx¿ 18,433 - 18,433 2,031 601 2,633 15,799 16,401
6«fG;kmd{/ k|sf/ ## lsnf]jf6 851 - 851 93 27 121 729 757
8L;L k|0ffnL 1,705 - 1,705 187 55 243 1,461 1,517
cly{ª ;fdfu|L 2,470 - 2,470 272 80 352 2,117 2,197

qm]g oflGqs pks/0f 25,910 - 25,910 2,856 846 3,702 22,207 23,054

h]g]/]6/ / o;sf] ;xfosx¿ 53,534 - 53,534 5,900 1,748 7,648 45,885 47,633

d]sflgsn j:t'x¿ 17,440 - 17,440 1,922 569 2,491 14,948 15,518

d]sflgsn d'Vo pks/0fx¿ 61,948 - 61,948 6,828 2,022 8,851 53,097 55,120

cGo ljB'tLo pks/0f 12,164 - 12,164 1,340 397 1,738 10,426 10,823

kfj/ / ;xfos 6«fG;kmd{/ 26,459 - 26,459 2,916 863 3,780 22,678 23,542

x]8jS;{ PrPd 20,742 - 20,742 2,286 677 2,963 17,778 18,455

p7fpg] k|0ffnL 18,113 - 18,113 1,996 591 2,588 15,525 16,117

hndfu{ x]8/]; kfOk PrPd 280,282 - 280,282 30,895 9,151 40,046 240,235 249,387

## lsnf]jf6 k|fKt ug{] l:jrof8{ 39,631 - 39,631 4,368 1,294 5,662 33,968 35,262
pks/0f
k|;f/0f nfOg 37,264 - 37,264 4,107 1,216 5,324 31,939 33,156
xfO8«f]d]sflgsn sfo{x¿ - 10,977 10,977 - 402 402 10,574 -
hldg 72,920 - 72,920 - 2,675 2,675 70,244 72,920
pTkfbg nfO;]G; 700 - 700 77 22 100 599 622

nfO;]G; vl/b 19,687 - 19,687 2,170 642 2,812 16,874 17,516

n]vf ;ˆ6j]o/ 5 - 5 - 5 5 - 5
sDKo'6/ / n\ofk6k 663 75 738 167 - 309 428 495
sfo{fno kmg{Lr/ / ;]6ck 129 31 160 32 - 64 96 96
;jf/L ;fwg 1,756 240 1,996 351 - 680 1,316 1,405
d]l;g/L / pks/0f 630 181 811 94 - 202 609 536
s'n /sd 1,371,647 11,504 1,383,151 143,450 45,386 189,448 1,193,703 1,228,196

Ans cg';f/ ;DklQ ljj/0f

;DklQ ljj/0f, @)&( /sd -? xhf/df_ :yfg s}lkmot
hUuf 70,244 Dff]n'Ë ufpFkflnsf cfjZos hUuf v/Lb u/LPsf]
l;len lgdf{0f 560,048 Dff]n'Ë ufpFkflnsf k"0f{ ?kdf ;DkGg ePsf]
xfO8«f] d]sflgsn 284,114 Dff]n'Ë ufpFkflnsf k"0f{ ?kdf ;DkGg ePsf]
On]S6«f] d]sflgsn 259,371 Dff]n'Ë ufpFkflnsf k"0f{ ?kdf ;DkGg ePsf]
;DklQ,KnfG6 / pks/0f 2,450 Dff]n'Ë ufpFkflnsf cfjZostf cg';f/ ePsf]
17,474 Dff]n'Ë ufpFkflnsf ljw't ljsf; ljefujf6 cg'dlt
pTkfbg nfO;]G; / nfO;]G; vl/b
k|fKt इजाजतपत्र
s"n ;DklQ 1,193,703 - -

-v_ a"Fbf -s_ df pNn]lvt ;DklQ ;+ul7t ;+:yfsf] cfkm\g} ;DklQ xf] of lnhdf lnPsf], lnhdf lnPsf] eP
lnhsf] cjlw -ldlt ;d]t pNn]v ug'{kg]{_M lnhdf gePsf] sDkgLsf] cfkm\g} ;DklQ .
8
 -u_ olb ;DklQ ;+ul7t ;+:yfsf] :jfldTjdf /x]sf] ePdf pQm ;DklQ dfly s'g} lnog jf df]6{u]h eP ;f]
;DaGwL ljj/0f M ;f] gePsf] .
-3_ cfly{s jif{ ;dfKt eP kZrft ljj/0fkq af]8{df k]z ul/Psf] ldlt ;Dddf ;+ul7t ;+:yfsf] ;DklQsf]
lstfjL d"No / ahf/ d"No aLr km/s ;dfof]hg jf d"No+fsg ul/Psf] eP ;f] sf] ljj/0f M ;f] gePsf]
-ª_ ;DklQsf] d"Nof+sg ul/Psf] t/Lsf ;DaGwL ljj/0fM Straight Line and Written Down Value depreciation
method
u=#=# efjL of]hgf tyf /0fgLlt M
-s_ Joj;fo÷;]jfsf] a[l4sf nflu ;+:yfsf] efjL of]hgf / To:tf] of]hgfsf] k|flKtsf nflu rflng] ;doj4
/0fgLltM
sDkgLn] cfkm\gf] Joj;fo÷;]jfsf] a[l4sf nflu rfNg] efjL of]hgf / To:tf] of]hgfsf] k|flKtsf nflu
rflng] ;doj4 /0fgLlt lgDgfg';f/ 5 .
!= ;fj{hlgs z]o/ lg:sf;faf6 k|fKt x'g cfpg] /sd a}+s tyf ljlQo ;+:yfaf6 lnOPsf] C0fsf]
/sd e"StfgL ug{df k|of]u u/Lg] 5 .
@= a}+s tyf ljlQo ;+:yfsf] afFsL C0f k|If]lkt ;do cjlw leq e"StfgL ug]{ /0flglt lnOPsf] 5 .
#= ljB't pTkfbg u/L las|Laf6 k|fKt x'g] /sdaf6 lnOPsf] Aofh / C0f s|lds ?kdf r'Stf ug]{ /
d'gfkmfsf] ;'lg:rttf\ ug]{ .
$= ;dfg pb]Zo ePsf cGo sDkgL÷cfof]hgfx?df ;+:yfkssf] x}l;otdf nufgL ug]{ .
%= cfof]hgf k|efljtsf kl/jf/nfO{ prLt IftLk"tL{ dWo]sf] /sdaf6 z]o/df nufgL ug]{ cj;/ k|bfg
ul/g] .
^= hnljB't ljsf;df cfjZos kg]{ hgzStL g]kfndf g} ljsf; ug{sf] nflu cGo sDkgLx? ;+u
;xsfo{ ug]{ .
&= o; sDkgL dfkmt{ lgdf{0f u/Lg] hnljB't cfof]hgf lgdf{0f ug{sf] nflu cfjZos k'hLF g]kfn /
ljb]zdf /x]sf] g]kfnLaf6 nufgL u/fpg] jftfj/0f agfOg] 5 .
-v_ k|lt:kwf{, ljBdfg cfly{s l:ylt / ;dfg lsl;dsf] pBf]usf] l:ytLsf] cfwf/df ;+ul7t ;+:yfsf]
Joj;fosf] eljio M g]kfndf hnljB't pTkfbsf] k|r'/ ;Defjgf /x]sf] ePklg jt{dfg cj:yfdf
ljB'tsf] dfu / cfk'lt{ aLr 7"nf] vf8n /x]sf] 5 . ljB'tsf] kof{Kt ljsf; x'g ;s] l5d]ls d'n'sx?df
lgof{t ug{ klg ;lsG5 . To;}n] of] Jo;fodf k|lt:kwf{sf] cfj:yf cfpg] 5}g . o;y{ sDkgLn] cfkm\gf]
Joj;fosf] lg/Gt/tfsf nflu cufl8 a9fPsf hnljB't cfof]hgfx?sf] lgdf{0f / cGo cfof]hgfsf]
klxrfg tyf ljsf; ubf{ cGo j:t'sf] h:tf] k|lt:kwf{ ug'{ kb}{g .
u=#=$ ;~rfns ;ldltsf] ;+/rgf / k|ltlglwTj ;DaGwL Joj:yf M
;~rfns ;ldltsf] ;+/rgf, ;~rfnsx?sf] ;+:yfut k|ltlglwTj tyf ;~rfns x'gsf] nflu lng'kg]{
Go"gtd z]o/ ;+Vof ;DaGwL Joj:yf M
xfn o; sDkgLdf ;+rfns ;b:o % hgf /x]]sf] / ;f] dWo] ! hgf dlxnf ;+rfns /x]sf] 5 / ! hgf
:jtGq lj1 ;+rfns /x]sf] 5 t/ ;fj{hlgs lg:sfzg kZrft sDkgLsf] lgodfjnLdf ePsf] Joj:yf
cg';f/ & hgf ;~rfns ;b:o /x]sf] ;~rfns ;ldlt b]xfo adf]lhd sfod x'g] 5 . h;dWo] ! hgf
dlxnf ;+rfns clgjfo{ /xg' kg]{5 .
s_;d"x -s_ ;+:yfks z]o/wgLx?af6 #
v_ ;d"x -v_ ;j{;fwf/0f z]o/wgLx?af6 #
:jtGq ;+rfns !
hDdf &
;+rfnsx?sf] sfo{sfn $ jif{sf] /xsf] 5 .
o; sDkgLsf] lgodfjnLsf] lgod @& df Joj:yf eP cg';f/ sDkgLsf] ;+rfns x'gsf nflu sDkgLsf]
slDtdf !)) -Ps ;o_ lsQf ;fwf/0f z]o/ lnPsf] x'g'kg]{5 . :jtGq ;+rfnssf] of]Uotf sDkgL P]g @)^#
sf] bkmf *^ sf] pkbkmf # adf]lhdsf] of]Uotf ePsf] JolQm x'g' kg]{5 . lghsf] sfo{sfn @ jif{sf] x'g]5 .
u=$ k"FhL ;+/rgf ;DaGwL hfgsf/L M
-s_ k"FhL ;+/rgf

9
 sDkgLsf] clws[t, hf/L tyf r'Qmf k"FhL ;+:yfsf] :yfkgf kZrft ;do ;dodf ;+zf]lwt ePsf] 5 h;sf]
ljj/0f lgDg adf]lhd /x]sf] 5 .
-s_ sDkgLsf] :yfkgfsf] ;dosf] k"FhL ;+/rgf
clws[t k"FhLM sDkgLsf] clws[t k"FhL ?=!,)),)),)),)))÷–-Ps c/a ?k}+of_ x'g]5 . ;f] k"+hLnfO{ k|lt
z]o/ ?=!))÷–sf b/sf !,)),)),)))-Ps s/f]8_ lsQf ;fwf/0f z]o/df ljefhg ul/Psf] 5 .
hf/L k"FhL M sDkgLsf] hf/L k"FhL ?=*),@%,)),)))÷– -c;L s/f]8 kRrL; nfv ?k}+of_ x'g]5 . ;f]
k"+hLnfO{ k|lt z]o/ ? !))÷– sf b/sf *),@%,))) -cl; nfv kRrL; xhf/_ lsQf ;fwf/0f z]o/df
ljefhg ul/Psf] 5 .
r'Qmf k"FhL Mr'Qmf k"FhL ?=$$,($,)),)))÷–-rf}jfnL; s/f]8 rf}/fgAa] nfv ?k}+of_ x'g]5 . ;f] k"+hLnfO{
k|lt z]o/ ?=!)) sf b/sf $$,($,)))-rf}jfnL; nfv rf}/fgAa] xhf/_ lsQf z]o/df ljefhg
ul/Psf] 5 . o; ljj/0fkq dfkm{t ?=*,)@,%),)))÷— -cf7 s/f]8 b'O{ nfv krf; xhf/ ?k}+of_
a/fa/sf] z]o/ /sd cfof]hgf k|efljt If]qsf :yfgLo afl;Gbfx?nfO{ z]o/ lgisfzg u/] kZrft r'Qmf
/sd ?=%@,(^,%),)))÷— x'g]5 . ;fy}, cfof]hgf k|efljt If]qsf :yfgLo afl;GbfnfO{ z]o/ lgisfzg
u/] kZrft ?=@&,@*,%),)))÷— ;j{;fwf/0fnfO{ lgisfzg ug]{ / ;f] lgisfzg tyf af+8kmf+8 kZrft
sDkgLsf] r'Qmf k"+hL ?=*),@%,)),)))÷—-cIf]?kL c;L s/f]8 klRr; nfv ?k}+of _ x'g]5 .
cf=j= clws[t k"+hL ?= xhf/df Hff/L k"+hL ?= xhf/df r'Qmf k"+hL ?= xhf/df
@)&^÷)&& ?=%)),))) ?=$#%,$*$ ?=$#%,$*$
@)&&÷)&* ?=!,))),))) ?=*)@,%)) ?=$$(,$))
@)&*÷)&( ?=!,))),))) ?=*)@,%)) ?=$$(,$))
@)&(÷)*) k|If]lkt ?=!,))),))) ?=*)@,%)) ?=*)@,%))
@)*)÷)*! k|If]lkt ?=!,))),))) ?=*)@,%)) ?=*)@,%))
@)*!÷)*@ k|If]lkt ?=!,))),))) ?=*)@,%)) ?=*)@,%))

-v_ lgisfzg kl5sf] r'Qmf k"FhL -;d"xs[t ul/Psf] cj:yfdf ;f]xL cg'?k_
;fwf/0f z]o/ lgisfzg u/L jf8‘kmf‘8 u/] kZrft sDkgLsf] k"FhL ;+/rgf b]xfo adf]lhd x'g]5 .
;d"x Z]o/wgLx? ;fwf/0f k"+hL r'Qmf /sd -? e'QmfgL k|ltzt
z]o/ ;+Vof k|ltzt-Ü_ xhf/df_
s ;+:yfks z]o/wgLx? $$,($,))) %^Ü $$(,$))÷— Zft k|ltzt
v cfof]hgf k|efljt If]qsf *,)@,%)) !)Ü *),@%)÷— lgisfzg kZrft
afl;Gbf z]o/wgLx? zt k|ltzt x'g]
u ;j{;fwf/0f z]o/wgLx? @&,@*,%)) #$Ü @&@,*%)÷— lgisfzg kZrft
-sd{rf/L ;lxt_ zt k|ltzt x'g]
hDdf *),@%,))) !))Ü *)@,%))÷— lgisfzg kZrft
zt k|ltzt x'g
;+:yfks ;d'x / ;j{;fwf/0f ;d'xsf] z]o/ cg'kft %^M$$ b]lvPsf] ;Gbe{df ;+rns ;ldltdf ;dfg'kflts k|ltlglwTj x'g] Joj:yf IPO
lgisfzg kZrft ;fwf/0f ;efaf6 ul/g]5 .
-u_ z]o/ lk|ldod vftf -lgisfzg k"j{ / lgisfzg kZrft_+ . M 5}g .
u=% ;+:yfks÷;~rfns ;DaGwL hfgsf/L M
u=%=! ;+:yfks÷;~rfnssf] k[i7e"dL M
-s_ cfwf/e"t z]o/wgLx? tyf ;~rfnsx?sf] gfd, kb, pd]/, /fli6«otf, 7]ufgf, z]o/ :jfldTj, z}lIfs of]Uotf,
cg'ej / k|:tfljt Jofkf/÷Joj;fodf cg'ej M
cfwf/e"t z]o/wgLx?sf] ljj/0f
qm= Gffd 7]ufgf Kfb pd]/ /fli6«otf z]o/ Zf}lIfs cg'ej k|:tfljt Aofkf/
;+= :jfldTj of]Uotf Aoj;fodf cg'ej
! >L cgs /ljejg, cfwf/e"t Nffu' nfu' @,))^,!(* nfu' gx'g] nfu' gx'g] nfu' gx'g]
xfO8«f]kfj/ !$, z]o/wgL gx'g] gx'g]
sDkgL k|f=ln= sf7df08f}+ .
@ >Ldlt ;"o{dfof Jf8f g+= !&, cfwf/e"t &) g]kfnL **%,))) 5}g #) jif{b]lv hnljB't If]qdf

10
 dxh{g lslt{k'/ z]o/wgL lgdf0f{ !) jif{sf] cg'ej
pBf]udf
nufgLstf{
# >L gljg Jf8f g+= !&, cfwf/e"t $^ g]kfnL #,%$,*$) Afl0fHo l;len÷d]sflg hnljB't If]qdf
dxh{g lslt{k'/ z]o/wgL zf:qdf sn If]qdf @^ !) jif{sf] cg'ej
:gfts jif{sf] cg'ej
$ >L slag Jf8f g+= !&, cfwf/e"t $% g]kfnL &,#),$@@ cfls{6]r/ l;len÷d]sflg hnljB't If]qdf
dxh{g lslt{k'/ z]o/wgL OlGhlgol/ sn÷cfls{6]S6 !) jif{sf] cg'ej
ªdf If]qdf @)
:gftsf]Q/ jif{sf] cg'ej

;~rfnsx?sf] laj/0fM
qm= Gffd, 7]ufgf kb pd]/ /fli6«otf z]o/ Zf}lIfs cGo If]qdf cg'ej k|:tfljt Jofkf/÷
;+= :jfldTj of]Uotf Joj;fodf cg'ej
! >L >L/fd dxh{g, PSh's]l6e &! g]kfnL 5}g l8Knf]df Og l;len If]qdf %) df]n'Ë vf]nf
j8f g++ !& r]o/Dofg OlGhlgol/ª jif{ dWo] $! aif{ hnljB't
lslt{k'/ cgs sG:6«S;gdf cfof]hgfdf !)
cg'ej jif{sf] cg'ej
@ >L cd[t s'df/ Dofg]lhË %) g]kfnL 5}g l;len l;len÷d]sflgsn df]n'Ë vf]nf
dxh{g, j8f g++ 8fO/]S6/ OlGhlgol/ª ÷On]lS6«sn If]qdf hnljB't
!& lslt{k'/ df :gfts @% jif{sf] cgs cfof]hgfdf !)
sG:6«S;gdf jif{sf] cg'ej
cg'ej
# >L glag dxh{g, lgb]{zs $^ g]kfnL #%$,*$) Afl0fHo l;len÷ df]n'Ë vf]nf
j8f g+=!& zf:qdf d]sflgsn If]qdf hnljB't
lslt{k'/ :gfts @) jif{sf] cgs cfof]hgfdf !)
sG:6«S;gdf jif{sf] cg'ej
cg'ej
$ >L slag dxh{g, lgb]{zs $% g]kfnL &#),$@@ cfls{6]r/ l;len÷d]sflgsn df]n'Ë vf]nf
j8f g++ !& OlGhlgol/Í ÷cfls{6]S6 If]qdf hnljB't
lslt{k'/ df @) jif{sf] cgs cfof]hgfdf !)
:gftsf]Q/ sG:6«S;gdf jif{sf] cg'ej
cg'ej
% >LdtL ;"o{dfof dlxnf &) g]kfnL **%,))) ;fwf/0f @) jif{b]lv lgdf0f{ hnljB't If]qdf
dxh{g, j8f g+=!& ;~rfns pBf]u / cgs !) jif{देखी
lslt{k'/ sG:6«S;gdf nufgLstf{
nufgL cg'ej
^ >L slj dxh{g, lj1÷:jtGq %% g]kfnL 5}g d]sflgsn l;len÷d]sflgsn xfO8«f] d]sflgsn
j8f g+=!& ;~rfns OlGhlgol/Í If]qdf @% jif{sf] If]qdf @% jif{sf]
lslt{k'/ df cgs sG:6«S;gdf cg'ej
:gftsf]Q/ cg'ej cgs
sG:6«S;gdf

-v_ ;+:yfksx? s'g} sDkgL÷;+:yf ePdf To:tf] sDkgL÷;+:yfsf] gfd tyf 7]ufgf ;lxtsf] ;+lIfKt ljj/0f
-Profile_ / pQm sDkgL÷;+:yfsf ;~rfnsx?sf] gfd, 7]ufgf, -k|fs[lts JolQm gv'n];Dd_ M
qm=; ;+:yfksx?sf] Gffd, 7]ufgf ;+lIfKt ljj/0f ;+rfnsx?sf] gfd tyf 7]ufgf
! >L cgs xfO8«f]kfj/ sDkgL g]kfnsf] hnljB't cfof]hgfsf] >L >L/fd dxh{g, j8f g++ !& lslt{k'/
k|f=ln, /ljejg, !$, sf7df08f}+ . ljsf;df nufgL ug]{ . >L cd[t s'df/ dxh{g, j8f g+=!& lslt{k'/
btf{ g+= &@&@^÷)^^÷)^& >L gljg dxh{g, j8f g+=!& lslt{k'/
btf{ ldlt @)^&÷)!÷@& >L sljg dxh{g, j8f g++ !& lslt{k'/
>L ;'o{dfof dxh{g, j8f g+=!& lslt{k'/

-u_ ;+ul7t ;+:yfsf] ;~rfns cGo s'g} sDkgL ;++:yf, sf]if, ;+u7g;Fu cfj4 eP To:tf] ;~rfns / cfj4 ePsf]
;+:yfsf] gfd, 7]ufgf
s|=;+= ;~rfnssf] gfd, 7]ufgf cfj4 /x]sf] ;+:yfsf] gfd, 7]ufgf

11
 s|=;+= ;~rfnssf] gfd, 7]ufgf cfj4 /x]sf] ;+:yfsf] gfd, 7]ufgf
! >L >L/fd dxh{ g , j8f g+ + !& lslt{ k /
' >L cgs xfO8«f]kfj/ sDkgL k|f=ln, /ljejg, !$, sf7df08f}+ .
@ >L cd[t s'df/ dxh{g, j8f g+=!&lslt{k'/ >L cgs xfO8«f]kfj/ sDkgL k|f=ln, /ljejg, !$, sf7df08f}+ .
# >L gljg dxh{g, j8f g+=!& lslt{k'/ >L cgs xfO8«f]kfj/ sDkgL k|f=ln, /ljejg, !$, sf7df08f}+ .
$ >L sljg dxh{ g , j8f g+ + !& lslt{ k /
' >L cgs xfO8«f]kfj/ sDkgL k|f=ln, /ljejg, !$, sf7df08f}+ .
% >L ;'o{dfof dxh{g, j8f g+=!&, lslt{k'/ >L cgs xfO8«f]kfj/ sDkgL k|f=ln, /ljejg, !$, sf7df08f}+ .
gf]6M o; sDkgLn] ;"lrs[t ;+ul7t ;+:Yffx?sf] ;+:yfut ;'zf;g ;DaGwL lgb]{lzsf, @)&$ df ePsf] Aoj:yf
tyf sDkgL P]g, @)^# sf] pkbkmf -!_ 5 df ePsf] Aoj:yf k"0f{ ?kdf kfngf ePsf] 5 .

-3_ ;+:yfks÷;~rfnssf] xs x:tfGt/0f aGb]h ;DaGwL ljj/0f M gePsf] .

u=%=@ ;+:yfks÷;~rfns;Fusf]] sf/f]jf/ M
-s_ ;+ul7t ;+:yfaf6 s'g} ;+:yfks÷;~rfnsn] k|ToIf jf ck|ToIf ?kdf s'g} j:t' jf ;'ljwf -cfly{{s jf
u}/cfly{s_ k|fKt u/]sf] jf k|fKt ug]{ ePdf To:tf] j:t' jf ;'ljwfsf] k|s[lt / d"No / To:tf] ;'ljwf lbP
jfkt ;+ul7t ;+:yfn] s'g} ;DklQ, ;]jf k|fKt u/]sf] jf ug]{ ePdf tT;DaGwL ljj/0f M
;f] gePsf] .
-v_ a'Fbf -s_ df pNn]lvt j:t' jf ;'ljwfsf] d"No lgwf{/0f ug{ ckgfOPsf] tl/sf M
;f] gePsf] .
u=^ l;ldt bfloTj ;DaGwL ljj/0f M
o; sDkgLsf sf/f]af/sf] ;DaGwdf z]o/wgLx?sf] bfloTj lghx?n] v/Lb u/]sf] jf ug{ sj'n u/]sf] z]o/sf]
c+lst d'No /sd;Dd dfq l;ldt /xg]5 .

u=& ;+ul7t ;+:yfsf] sd{rf/L ;DaGwL ljj/0f M

u=&=! ;+ul7t ;+:yfsf] pRr Joj:yfksLo txsf clws[t sd{rf/Lx? ;DaGwL ljj/0f M
-s_ ;+ul7t ;+:yfsf] pRr Aoj:yfksLo txsf clws[t sd{rf/Lx?sf] gfd, of]Uotf, lgo'lQm ePsf] ldlt, klxn]
sfd u/]sf] cg'ej tyf ;+ul7t ;+:yfsf] z]o/ lnPsf] eP z]o/ ;+Vof ;DaGwL ljj/0f . ;fy} To:tf]
sd{rf/Lx? cGo s'g} ;"rLs[t ;+ul7t ;+:yfsf] cfwf/e"t z]o/wgL eP jf cGo s'g} ;+ul7t ;+:yfdf nufgL
u/]sf] eP pQm ;+ul7t ;+:yfsf] gfd / nufgL u/]sf] /sd M
pRr Aoj:yfksLo txsf clws[t sd{rf/Lx?sf] ljj/0f
qm= G.fd Kfb z}lIfs of]Uotf / cg'ej lgo'Qm sDkgLdf lnPsf]
7]ufgf
;+= ePsf] ldlt z]o/ ;+Vof
l;len OlGhlgol/ª :gfts,
cd[t s'df/ sfo{sf/L lslt{k'/ j8f
! ;len÷d]sflgsn If]qdf @% k|df]6/ 5}g
dxh{g clws[t g++ )(
jif{sf] cg'ej
l;len O{lGhlgo/÷ lgdf0f{ tyf
e};]kf6L !*, @)&@
@ ;'efifrGb| emf k|f]h]S6 d]g]h/
nlntk'/
kmfO{gfG; If]qdf #) jif{sf] sfo{
h]7 !
5}g
cg'ej
lslt{k'/ j8f lj=lj=P kmfOgfG;, hnljw't @)&&
# ;xg dxh{g sDkgL ;lrj
g++ )( If]qdf $ jif{sf] sfo{ cg'ej kmfu'g !)
5}g

sDkgLsf] sd{rf/Lx? cGo s'g} ;"rLs[t ;+ul7t ;+:yfsf] cfwf/e"t z]o/wgL g/x]sf] / cGo s'g} ;+ul7t
;+:yfdf nufgL ;d]t gu/]sf] .

-v_ ljj/0fkq af]8{df k|:t't ug'{ eGbf ! jif{ cufl8sf] cjlwdf lgod cg';f/ cjsfz k|fKt ePsf] cj:yf
afx]s ;+ul7t ;+:yfsf] pRr Joj:yfksLo txdf /x]sf s'g} sd{rf/L kl/jt{g ePdf ;f] ;DaGwL
ljj/0f pNn]v ug'{kg]{M gePsf] .

12
 -u_ sd{rf/Lsf] ;+VofM :yfoL, c:yfoL, s/f/, Hofnfbf/L / cGo .
sDkgLdf xfn b]xfo adf]lhdsf sd{rf/L sfo{/t /x]sf 5g\ .
s"n sd{rf/L ;+Vof :yfoL c:yfoL s/f/ Hofnfbf/L cGo

$^ $^ — — — —

u=&=@ ;~rfns Pj+ pRr Aoj:yfksLo txsf clws[tnfO{ lbPsf] eQf tyf kfl/>lds ;DaGwL ljj/0fM
-s_ ;~rfns ;ldltsf] cWoIf nufot ;b:ox?nfO{ k|bfg ul/g] jf ul/Psf] a}7s eQfsf] b/ tyf
lghx?nfO{ k|bfg ul/g] jf ul/Psf] b}lgs tyf e|d0f eQf tyf cGo ;'ljwf M
!_ ;~rfns ;ldltsf] a}7sdf pkl:yt ;~rfnsx?nfO{ k|lt a}7s eQf ?=$,)))÷—
@_ ;~rfns ;ldltdf pkl:yt cfdlGqt kbflwsf/Lx? tyf ljz]if1x?nfO{ k|lt a}7s ?=$,)))÷—
#_ ;~rfns ;ldltaf6 ul7t pk;ldltsf] a}7s eQf M
 ;+of]hs÷;~rfns ;dltsf ;b:o k|lt a}7s eQf ?=$,)))÷—
 ;b:o -ljz]if1 tyf cGo ;+:yfaf6 cfdlGqt_ ?=#,%))÷—
 ;b:o –sDkgLsf kbflwsf/Lx? ?=@,%))÷—
$_ Joj:yfkgaf6 u7Lt pk;ldlt jf cGo a}7sdf pkl:yt kbflwsf/Lx?nfO{ k|lt a}7s eQf
?=!%))÷—
gf]6 M ;~rfns ;ldltsf ;b:ox?nfO{ pk/f]Qm a}7s eQf afx]s cGo s'g} ;'ljwf pknAw x'g]
Joj:yf /x]sf] 5}g .

-v_ ;+ul7t ;+:yfsf] pRr Aoj:yfklso txsf tLg hgf clws[tx?sf] gfd / kb / Ps cfly{s jif{sf]
cjlw -@)&*.&(_ leq lghx?nfO{ kfl/>ldssf] ?kdf e'QmfgL ul/Psf] /sd M
Gffd kb jflif{s kfl/>lds /sd ?=
>L cd[t s'df/ dxh{g sfo{sf/L clws[t a}7s eQf dfq .
>L ;xg dxh{g sDkgL ;lrj %,@),)))÷—
>L ;'efifrGb| emf k|f]h]S6 d]g]h/ &,*),)))÷—
-u_ s'g} clws[t jf ;~rfnsnfO{ eljiosf] nflu s'g} /sd k|bfg ul/g] u/L s/f/ ul/Psf] eP ;f]
;DaGwL ljj/0fM xfn ;Dd To:tf] s'g} s/f/ ul/Psf] 5}g .
u=*= cGtlg{lxt hf]lvd tyf ;f]sf] Aoj:yfkgsf nflu Aoj:yfkgsf] wf/0ffM
sDkgLn] axg u/]sf] jf ug]{ hf]lvdx?nfO{ ;+ul7t ;+:yfsf] cfGtl/s jf Aoj;fo÷kl/of]hgf;Fu k|ToIf cyjf
;+ul7t ;+:yfsf] lgoGq0f eGbf aflx/ k|d'v ?kdf b]xfosf hf]lvdx? /x]sf 5g\ .
-s_ ljQLo ;fwgsf] cefjaf6 x'g] hf]lvd M
— cfof]hgfsf] lgdf{0f sfo{ ;DkGg eO{ ;+rfngdf cfO;s]sf]n] ljQLo hf]lvdsf] cj:yf g/x]sf] .
— sfa' aflx/sf] b}lj k|sf]ksf] hf]lvd ;bf /xL /xg] .
— sfo{lzn k"FhLsf] cefj /x] g/x]sf] ;DaGwL
o; df]n'Ë vf]nf hnljB't cfof]hgf lgdf{0f sfo{ PPA df pNn]v ePsf] ldlt leq g} cfof]hgf ;DkGg
u/LPsf] lyof] / lgdf{0f /x]sf] cj:yfdf k'FhLsf] cefj gePsf] hfgsf/L ub{5' . lgdf{0f sfo{ ;DkGg eO{
;+rfngdf cfO{ ;s]kl5 g]=lj=k|f=sf] ## s]=le= k|zf/0f nfOgdf ePsf] cj?¢ jfx]s klg o; cfof]hgf
nuftf/ ?kdf ;+rfngdf g} /x]sf] 5 .
t/ g]kfn ljw't k|flwsf/0fsf] cf]vn9'Ëf b]lv nfxfg ;Dd ## s]=le=sf] !%) ls=dL= nfdf] k|zf/0f nfOg
ePsf] / pSt nfOg b}lgs *–!) k6s ;Dd tripping sf] sf/0fn] / high voltage/over voltage/earth
fault sf] sf/0fn] cg'dfg u/] cg'?k ljw't pTkfbg ug{ ;lsPsf] lyPg h:n] ubf{ cfDbfgLdf c;/ kg{
uPtf kgL o; cfof]hgfsf] cfDbfgLjf6 cfof]hgf ;+rfng vr{ / j}+sjf6 lnOPsf] C0fsf] Jofh lgoldt
?kdf e'StfgL u/Lb} cfPsf] 5 t/ ;fFjf ;f]r] cg'?k e'QmfgL ug{ ;lsPsf] 5}g\ .
ldlt @)&* kmfu'g @, df ;f]n' !#@ s]=le= k|zf/0f nfOg ;DkGg eO;s]kl5 o; cfof]hgfsf] pTkfbLt
ljw't ;f]n' !#@ s]=le= k|zf/0f nfOgdf connection u/] kZrft ljw't pTkfbgdf ;Gtf]ifhgs ;'wf/ cfO{

13
 cfDbfgLdf ;d]t ;'wf/ x'g uO/x]sf] 5 . t;y{ cfpg] aif{x?df j}+sjf6 lnOPsf] C0f klg ;f]r] cg'?k
e'QmfgL x'g hfg] 5 .
;fy} sDkgLsf] ;fj{hlgs z]o/ lgZsf;g kZrft k|fKt x'g] /sd C0f 36\g uO{ ;fFjfsf] e'StfgL tf]lsPsf]
cjlw eGbf cufj} r'Qmf x'g] cfzf lnOPsf] 5 .
-v_ sRrf kbfy{sf] cefjaf6 x'g] hf]lvd M
— hn>f]tsf] d'xfgdf jftfj/0fdf ck|Toflzt ?kdf kl/jt{g eO{ kfgLsf] >f]t 36\g uPdf pTkfbg Ifdtf
36\g ;Sg] .
— hnljB't cfof]hgfsf] cWoogsf] qmddf bL3{sflng tYofÍ ;d]t cWoog tyf ljZn]if0f ul/Psf] x'gfn]
;fdfGo cfj:yfdf o:tf] hf]lvd g/xg] .
-u_ pTkfbg jf ;]jfsf] ahf/sf] l:ylt / o;df cfpg] kl/jt{gaf6 x'g] hf]lvd M
— g]kfn ljB't k|flws/0f;+u ljB't v/Lb ug]{ ;Demf}tf eO;s]sf] x'gfn] ahf/sf] hf]lvd g/x]sf] .
-3_ cfof]hgf ;DkGg x'g l9nfO{ x'g] ;Defjgf / To;af6 x'g] d"No clea[l4 (Cost Overrun)sf] hf]lvd M
— cfof]hgf k"0f{ ?kdf ;DkGg eO{ ;+rfngdf cfO;s]sf] x'gfn] s'g} To:tf] hf]lvd g/x]sf] .
-ª_ ljb]zL ljlgdosf] hf]lvd M
— xfn To:tf] hf]lvd g/x]sf] .
-r_ sfg"gL k|lqmofx? tyf O{hfht k|fKt ubf{ ;f]af6 kg{ ;Sg] c;/x? M
— xfn sDkgLn] k'/f ug'{kg]{ ;Dk"0f{ sfg"g k|s[ofx? k"/f ul/;s]sf] / k|fKt ug'{kg]{ ;Dk"0f{ Ohfhtkqx? k|fKt
u/L ;s]sf]n] cfof]hgfsf] lgdf{0f tyf ;+rfngdf ;f] ;DaGwL s'g} cj/f]w g/x]sf] .
-5_ If]qLos/0f / ljZjJofkLs/0fsf sf/0faf6 pTkGg x'g ;Sg] hf]lvd M
— cGt/f{li6«o ahf/df x'g] cfly{s dGbLaf6 z]o/ ahf/df c;/ k/]df z]o/ d"Nodf c;/ kg{ ;Sg] . k|:tfljt
z]o/ ljt/0fkl5 cfof]hgf k|efljt :yfgLo jfl;Gbfx¿nfO{ ljt/0f ePsf] z]o/ # aif{;Dd ns Og ;do
/x]sf] / pQm ;do;Dddf xfnsf]] z]o/ ahf/af6 k|ToIf ?kdf tTsfnnfO{ sd c;/ kg{ hfg] .
-h_ ;/sf/L gLlt tyf lgodx?df x'g] kl/jt{g tyf ljZjJofkL ?kdf x'g] gLltut kl/jt{gaf6 pTkGg x'g] hf]lvd M
— g]kfn ;/sf/sf] hnljB't ;DaGwL cfly{s tyf ljQLo lglt lgoddf x'g] kl/jt{gaf6 >[hgf x'g ;Sg]
hf]lvdx?
— s/, eG;f/ cflb ;DaGwL Aoj:yfdf kl/jt{g ePdf .
— hnljB't pks/0fx? cfoft ;DaGwL lgltx? kl/jt{gaf6 x'g] hf]lvdx?
-´_ ;+rfng Oltxf;sf] cefj M
— o; sDkgL ldlt @)^&÷)!÷#! df :yfkgf eO{ ldlt @)&$÷!@÷!@ b]vL ljB't pTkfbg u/L g]kfn
ljB't k|flws/0fnO{ ljB't cfk"lt{ ul//x]sf]n] ubf{ ;+rfng Oltxf;sf] cefj g/xsf] .
-`_ k|ljlwsf] kl/jt{gaf6 x'g ;Sg] hf]lvd M
— hnljB't cfof]hgf lgdf{0fsf] nflu cfjZos 6jf{Og, k]g:6s, h]g]/]6/ nufotsf ljleGg pk/s0f
:yfkgf eO{ ljh'nL pTkfbg u/]sf] $ aif{ सम्पGg eO;s]sf]n] o;sf] hf]lvd g/x]sf] .

-6_ cGo M
-!_ b]zsf] /fhg}lts cl:y/tfaf6 cfpg ;Sg] hf]lvdx? .
-@_ k"FhL ahf/sf] cj:yfdf cfpg] ptf/ r9fjaf6 kg{ ;Sg] hf]lvdx? .
-#_ k|fs[lts k|sf]k tyf sfa' aflx/sf] kl/l:ylt pTkGg e} cfof]hgf ;+rfngdf c;/ x'+bf cfof]hgfsf] vr{
a9\g ;Sg] .
pk/f]Qmfg';f/sf] hf]lvdx?nfO{ Go"g jf Joj:yfkg ug]{ ;DaGwdf Joj:yfkgsf] of]hgf M
hn>f]tsf] lx;fan] g]kfn ljZjs} wgL b]zx?df kg]{ s'/f ;j{ljlbt} x'+bf x'+b} klg g]kfndf phf{ zlQmsf] cTolws
dfu /x]sf] / ;f] sf] cfk"lt{ k"0f{ ?kdf x'gg;s]sf] kl/k|]Iodf phf{sf] >f]tsf] ?kdf hn>f]t g} k|d'v / e/kbf]{ >f]t
ePsf] b]lvG5 . t;y{ phf{sf nflu hnljB'tsf] cfjZostf / dxTj slxNo} sd gx'g] x'+bf bL3{sfn;Dd
hnljB'tsf] nufgLdf Go"g hf]lvd /x]sf] eGg]df Joj:yfkgsf] wf/0ff /x]sf] 5 . phf{ k|fKt ug]{ ljleGg >f]tx?
ePtfklg kfgLaf6 pTkfbg x'g] hnljB't gljs/0fLo phf{ ePsf]n] hnljB't cfof]hgfx?n] jftfj/0fdf gsf/fTds
k|efj kfb}{g . To;sf/0f phf{sf cGo >f]tx? eGbf kfgLaf6 pTkfbg x'g] hnljB'tn] jftfj/0fLo xfgL sd ug]{ /
o;sf] pTkfbg nfut cGo phf{ eGbf t'ngfTds ?kdf sd /xg] x'+bf cGo >f]taf6 pTkfbg x'g] ljB't eGbf
kfgLaf6 pTkfbg x'g] hnljB't cfof]hgfx?df sd hf]lvd /x]sf] wf/0ff Joj:yfkgsf] /x]sf] 5 .
aLdf ;DaGwL ljj/0f M
!= aLdf sDkgLsf] gfd M Pg Pn lh OG:of]/]G; sDkgL lnld6]8 (Lead Insurer), chf]b OG:of]/]G; lnld6]8 /
n'lDagL hg/n OG:of]/]G; sDkgL lnld6]8 (Co- Lead Insurers)
@= aLdfn] axg ug]{ hf]lvd Mk"0f{ ;DklQ hf]lvd aLdf, Loss of Profit Insurance

14
 #= ;Dk"0f{ ;DklQx? aLdf ul/Psf] s'n /sd M !,)%,*),&%,^^#.*^
l;=g+= ;DklQx?sf] ljj/0f aLdf ul/Psf] /sd ?= lk|ldod /sd
! Loss of Profit Insurance !$,!@,%!,^#^ *^!,(#&
@ k|f]h]S6 OG:of]/]g; (!,^*,@$,)@& !(,!^,^$)
$= ;Dk"0f{ ;DklQx?sf] s"n lk|ldod /sd ?=@&,&*,%&*
%= k|f]h]S6 OG:of]/]g; aLdfn]v hf/L ldlt M !%÷)#÷@)@@, aLdfn]v ;dflKt ldlt M !$÷)#÷@)@#
^= Loss of Profit Insurance aLdfn]v hf/L ldlt M @)÷)^÷@)@@, aLdfn]v ;dflKt ldlt M!(÷)^÷@)@#
lwtf]kqsf] d"No kl/jt{g ;DjGwL hf]lvdM
?=!))÷— k|lt z]o/sf b/n] lgisfzg ul/Psf] z]o/ d"Non] ;"rLs/0f kZrft g]kfn :6s PS;r]Gh lnld6]8df x'g]
sf/f]jf/ d"No ghgfpg] ePsf]n] z]o/ d"Nodf x'g ;Sg] kl/jt{gsf] hf]lvd /x]sf] 5 .
u=(= ljQLo ljj/0f M
u=(=! ljQLo ljj/0f / tT;DaGwdf Joj:yfkgsf] wf/0ff / ljZn]if0f M
-s_ ;+ul7t ;+:yfsf] n]vfkl/If0f ePsf] kl5Nnf] cfly{s jif{sf] jf;nft, gfkmf gf]S;fg lx;fa, gfkmf
gf]S;fg afF8kmfF8, gub k|jfx ljj/0f M
jf;nft
cfiff9 #@, @)&(
ljj/0f jf:tljs -?=xhf/df_
k"+hL / l/he{
z]o/ k"+hL 449,400
hu]8f tyf ;+lrt d'gfkmf (176,984)
s'n k"+hL / l/he{ 272,416
bL3{sfnLg bfloTj
bL3{sfnLg C0f 927,591
s'n bL3{sfnLg bfloTj 927,591
xfnsf] bfloTj ljj/0f
xfnsf] C0f, pwf/f] 48,197
Jofkf/ / cGo e'Qmfg of]Uo /sd 40,337
k|fjwfg 6,346
s"n xfnsf] bfloTj 94,880
s"n bfloTj 1,022,471
s"n k+hL, l/he{ / bfloTj 1,294,887
l:y/ ;DklQ ljj/0f
;DklQ, KnfG6 / pks/0f 2,450
cd"t{ ;DklQ 1,191,253
cGo l:y/ ;DklQ -
s"n l:y/ ;DklQ 1,193,703
rfn' ;DklQ
gub / a}+s df}Hbft 1,273
Jofkf/ / cGo k|fKt x'g' kg]{ /sd 99,911
s"n rfn' ;DklQ 101,184
s"n ;DklQ 1,294,887

Gffkmf—gf]S;fg lx;fa -cfiff9 #@, @)&(_

ljj/0f jf:tljs -? xhf/df_
lah'nL cfDbfgL 156,095
;+rfng vr{ (9,762)
hDdf cfo 146,333
cGo cfo 73,008

15
 d"No X|f; (611)
kl/zf]wg (45,386)
k|zf;g vr{ (19,482)
Jofh / s/ eGbf klxn] gfkmf 3f6f 153,862
Jofh vr{ (99,193)
s/ cuf8L gfkmf 3f6f 54,668
cfos/sf] nflu k|fjwfg (6,211)
:ylut s/ ;dfof]hg -
s'n gkmf 3f6f 48,457
z]o/ ;+Vof -xhf/df_ 4,494
k|lt z]o/ cfDbfgL -?_ 10.78
cGo Jofkfs cfo
k'gd"{Nof+sg / cg'jfb df nfe / 3f6f -
k"j{ cfjlwsaf6 cfos/ -
s'n gfkmf / 3f6f / cGo jfks cfo 48,457

gub k|jfx ljj/0f -cfiff9 #@, @)&(_

jf:tljs -? xhf/df_
sf/f]af/ ;+rfngaf6 gub k|jfx
s/ k"j{ gfkmf / gf]S;fg 48,457
:ylut s/ ;dfof]hg -
d"Nox|f; 611
kl/zf]wg 45,386
ljQLo vr{ 99,193
k"j{ cjlwaf6 ;dfof]hg -
sfo{zLn k"FhL ;dfof]hgx?
Jofkf/ / cGo k|fKox?df 36÷-a[l¢_ (74,308)
Jofkf/ / cGo e'QmfgLx?df j[l¢÷36 (11,382)
k|fjwfgx?df j[l¢÷36 6,088
;+rfngaf6 g]6 gub k|jfx 114,046
nufgL ultljlwaf6 gub k|jfx
l:y/ ;DklQsf] v/Lb (11,504)
cGo rfn' ;DklQx?df 36÷-a[l¢_ -
nufgL ultljlwaf6 g]6 gub k|jfx (11,504)
ljQLo ultljlwaf6 gub k|jfx
z]o/ k"+hLsf] Joj:yfdf yk÷36 -
C0f / pwf/f]df j[l¢÷36 (4,275)
ljQLo vr{ (99,193)
ljQLo ultljlwaf6 g]6 uub k|jfx (103,468)
gub / gub ;dt'Nodf z'¢ a[l¢÷sdL (927)
jif{sf] ;'?df gub / gub a/fa/ 2,199
jif{sf] cGTodf gub / gub a/fa/ 1,273

OlSj6L kl/jt{gsf] ljj/0f -cfiff9 #@, @)&(_ -? xhf/df_

hu]8f tyf cGo hu]8f tyf
ljj/0f z]o/ k"+hL hDdf
;+lrt d'gfkmf ;+lrt d'gfkmf
@)&* cfiff9df Aofn]G; 449,400 (225,441) - 223,958
k"j{ cjlwaf6 ;dfof]hg - - - -

16
 hDdf 449,400 (225,441) - 223,958

;dfof]hg ljj/0f
z]o/ k"+hLsf] Joj:yfdf yk÷36 - - - -
s'n gfkmf / 3f6f @)&*=&( - 48,457 - 48,457
hu]8f tyf ;+lrt d'gfkmfdf yk÷36 - - - -
@)&( cfiff9df Aofn]G; 449,400 (176,984) - 272,416
Nffe+fzsf] nflu s'g} k|fjwg ul/Psf] 5}g
cGo cfosf] ljj/0f
ljj/0f 2078-79
pkef]Uo j:t'sf] laqmLdf nfe 320,979
cg'bfg cfo 38,500,000
ha/h:tL cfp6]haf6 cfo 24,187,470
cGo cfo 10,000,000
aLdf bfjLx¿ -
s'n /sd 73,008,449

sDkgLsf] cg'bfg cfo? #,*%,)),)))÷– g]kfn n]vf dfgs @) cGtu{t (Income Recognition Basis) g]kfn ;/sf/jf6 k|fKt
x'g] cfDbfgL cf=j= @)&!÷&@ sf] ah]6 efif0fdf pNn]v eP cg';f/ lng'kg]{ b]lvG5 . ljw't vl/b ljls| ;Demf}tf cg';f/ o;
sDkgLsf] force Outages af6 x'g] cfo ? @,$!,*&,$&)÷– g]kfn ljw't k|flws/0f;Fu lng jfFsL b]lvG5.
ldlt @)^& ;fn r}q * ut] dGqL kl/ifbjf6 lg0f{o eO{ @)^& r}q ( ut] Joj:yflksf ;+;bjf6 kfl/t k|lt d]ufjf6 ? %)
nfv cg'bfg lbg] lg0f{o ;fy} @)&% ;fn ;Dd cfpg] cfof]hgfsf] xsdf k|lt d]=jf= ? %) nfvsf] b/n] lbg] lg0f{odf yk
!)% lbg] pNn]v u/LP adf]lhd ? # s/f]8 *% nfv e'QmfgLsf] nflu phf{ dGqfnodf ldlt @)&%÷)$÷@& df kqfrf/
u/LPsf] 5 .
ljw't vl/b ljls| ;Demf}tfsf] bkmf !) sf] !)=! cg';f/ Force Outages sf] sf/0fn] k|flws/0fn] phf{ lng g;s]df cg';'rL
# sf] k|fjwfg cg';f/ g]kfn ljw't k|flws/0fn] sDkgLnfO{ ?=@,$!,*&,$&%)÷– Ifltk"lt{ ltg'{kg]{ 5 . h; cg';f/ o; sDkgLn]
kfpg'kg]{ /sdsf] nflu g]kfn ljw't k|flws/0f;Fu ljleGg ldltdf kqfrf/ eO/x]sf] 5 .
cGo cfo /sd dWo] cgs sG:6«S;g;Fu lnPsf] C0f dWo]jf6 ? Ps s/f]8 /sd cgs sG:6«S;g sDkgL k|f=ln=n] ldgfxf
u/LPsf] x'gfn] ldlt @)&(÷)@÷@% sf] j}7sn] bfjL gug]{ C0f /sdnfO{ cfDbfgL hgfpg] lg0f{o ul/Psf] 5 .
-v_ ;~rfng cjlw tLg jif{ JotLt e};s]sf] cj:yfdf ljut tLg jif{sf] / tLg jif{ Joltt e}g;s]sf] cj:yfdf
;~rfng cjlwe/sf] n]vfk/LIf0f ePsf] gfkmf gf]S;fg, jf;nft ;lxtsf] ;++lIfKt ljQLo ljj/0f -;xfos sDkgL
eP ;dli6s[t ?kdf_ M
jf;nft
ljj/0f af:tljs -? xhf/df_ *@)&(÷)*)
2076-77 2077-78 2078-79 cflZjg d;fGt
k"+hL / l/he{
z]o/ k"+hL 435,484 449,400 449,400 4,49,400
hu]8f tyf ;+lrt d'gfkmf (212,204) (225,441) (176,984) (1,51,518)
s'n k"+hL / l/he{ 223,279 223,959 272,416 2,97,882
bL3{sfnLg bfloTj - -

bL3{sfnLg C0f 911,553 928,062 927,591 9,26,809

:yflut s/ bfloTj 40,913 - -
s'n bL3{sfnLg bfloTj 952,466 928,063 927,591 9,26,809
xfnsf] bfloTj ljj/0f - -

xfnsf] C0f, pwf/f] 83,854 52,000 48,197 49,400

Jofkf/ / cGo e'Qmfg of]Uo 44,699 51,720 40,337 21,792
/sd
k|fjwfg 122 258 6,346 6,211
s"n xfnsf] bfloTj 128,675 103,977 94,880 77,404

17
 s"n bfloTj 1,081,141 1,032,039 1,022,471 10,04,213
s"n k"+hL, l/he{ / bfloTj 1,304,421 1,255,998 1,294,887 13,02,095
l:y/ ;DklQ ljj/0f
hUuf, d]lzg tyf pks/0f Pj+ 1,252,922 2,534 2,450 2,264
cGo
cd"t{ ;DklQ
;Dklt 18,830 1,225,662 1,191,253 11,80,223
cGo l:y/ ;DklQ 30 - -
s"n l:y/ ;DklQ 1,271,782 1,228,196 1,193,703 11,82,487
rfn' ;DklQ
gub / a}+s df}Hbft 3,063 2,199 1,273 857
Jofkf/ / cGo k|fKt x'g' kg]{ 29,576 25,603 99,911 1,18,752
/sd
s"n rfn' ;DklQ 32,639 27,802 101,184 1,19,608
s"n ;DklQ 1,304,421 1,255,998 1,294,887 13,02,095

*@)&(÷)*) cflZjg d;fGt ;Ddsf] Aoj:yfkgaf6 k|dfl0ft ckl/l:s[t ljQLo ljj/0f

gfkmf gf]S;fg lx;fa
ljj/0f jf:tljs -? xhf/df_ *@)&(÷)*)
2076-77 2077-78 2078-79 cflZjg d;fGt
lah'nL cfDbfgL 141,328 115,007 156,095 75,,164
;+rfng vr{ (14,855) (18,476) (9,762) 1,353
hDdf cfo 126,473 96,531 146,333 73,811
cGo cfo 607 822 73,008
d"No X|f; (43,945) (644) (611) (186)
kl/zf]wg - (43,190) (45,386) (11,030)
k|zf;g vr{ (17,256) (18,171) (19,482) (7,765)
Jofh / s/ eGbf klxn] gfkmf 3f6f 65,879 35,348 153,862 54,829
Jofh vr{ (88,962) (89,498) (99,193) (28,027)
s/ cuf8L gfkmf 3f6f (23,083) (54,150) 54,668 26,802
cfos/sf] nflu k|fjwfg - - (6,211)
:ylut s/ ;dfof]hg (4,452) 40,913 -
s'n gkmf 3f6f (27,535) (13,237) 48,457 26,802
z]o/ ;+Vof 4,354,840 4,494,000 4,494 4,494

k|lt z]o/ cfDbfgL (6.32) (2.95) 10.78 5.96

cGo Jofkfs cfo
k'gd"{Nof+sg / cg'jfb df nfe / 3f6f - - -
k"j{ cfjlwsaf6 cfos/ - - -
s'n gfkmf / 3f6f / cGo jfks cfo (27,535) (13,237) 48,457 26,802

*@)&(÷)*) cflZjg d;fGt ;Ddsf] Aoj:yfkgaf6 k|dfl0ft ckl/l:s[t ljQLo ljj/0f

gub k|jfx ljj/0f

ljj/0f jf:tljs -? xhf/df_
2076-77 2077-78 2078-79
sf/f]af/ ;+rfngaf6 gub k|jfx
s/ k"j{ gfkmf / gf]S;fg (27,535) (13,237) 48,457
:ylut s/ ;dfof]hg 4,451 (40,912) -
d"Nox|f; 43,945 644 611

18
 kl/zf]wg - 43,190 45,386
ljQLo vr{ 88,962 89,498 99,193
k"j{ cjlwaf6 ;dfof]hg - - -
sfo{zLn k"FhL ;dfof]hgx?
Jofkf/ / cGo k|fKox?df 36÷-a[l¢_ (14,196) 4,003 (74,308)
Jofkf/ / cGo e'QmfgLx?df j[l¢÷36 (30,165) 7,021 (11,382)
k|fjwfgx?df j[l¢÷36 123 135 6,089
;+rfngaf6 g]6 gub k|jfx 65,585 90,341 114,046
nufgL ultljlwaf6 gub k|jfx
l:y/ ;DklQsf] v/Lb (97) (278) (11,504)
cGo rfn' ;DklQx?df 36÷-a[l¢_ - - -
nufgL ultljlwaf6 g]6 gub k|jfx (97) (278) (11,504)
ljQLo ultljlwaf6 gub k|jfx
z]o/ k"+hLsf] Joj:yfdf yk÷36 35,484 13,916 -
C0f / pwf/f]df j[l¢÷36 (10,098) (15,344) (4,275)
ljQLo vr{ (88,962) (89,498) (99,193)
ljQLo ultljlwaf6 g]6 uub k|jfx (63,575) (90,927) (103,468)
gub / gub ;dt'Nodf z'¢ a[l¢÷sdL 1,914 (863) (927)
jif{sf] ;'?df gub / gub a/fa/ 1,150 3,063 2,199
jif{sf] cGTodf gub / gub a/fa/ 3,063 2,199 1,273

-u_ cfly{s jif{ ;dfKt ePsf] ^ dlxgf kZrft\ ljj/0fkq :jLs[ltsf] nflu k]z u/]df pQm cGtl/d cjlwsf] nflu
n]vfk/LIfsaf6 k|dfl0ft u/]sf] ckl/is[t ljQLo ljj/0f M ;f] gePsf] .
o; sDkgLsf] cf=j=@)&&.)&* sf] jflif{s ;fwf/0f ;efn] lgo'St u/]sf] n]vfk/LIfs kmd{ R. Shrestha &
Associates, Chartered Accountant n] ldlt @)&(.)#.@) ut] JolQmut sf/0f pNn]v u/L n]vfk/LIf0f ug{
;do lbg c;dy{ /x]sf] elg sDkgL P]g @)^# sf] bkmf !!@ sf] pkbkmf # sf] adf]lhd n]vfk/LIfsaf6 /flhgfdf
lbPsf lyP . ;f] ljifodf gofF n]vfkl/Ifs lgo'lQm ug{sf nflu sDkgL /lhi6f8{df ldlt @)&(÷)%÷@# df lgj]bg
k]z u/L ldlt @)&(÷)%÷#) df sDkgL /lhi6f8{jf6 k|fKt kq cg';f/ o; sDkgLsf] n]vfkl/Ifs >L lh=k|sfz
P08 Pzf]l;o6\;nfO{ sDkgL P]g @)^# bkmf !!# cg';f/ lgo'lQm u/LPsf] 5 .
ut cfly{s jif{ @)&*÷)&( tyf cfufdL # jif{sf] k|If]lkt cfly{s ljj/0f hL k|sfz P08 P;f]l;P6\;,
;L=P= n]vfkfnåf/f g]kfn n]vf dfgs (Nepal Financial Reporting Standards-NFRS) cg'?k tof/ ul/Psf] 5 .
o; sDkgLsf] n]vfkl/If0f ul/Psf] ljut # jif{df / cg'dflgt # jif{sf] ljQLo ljj/0fdf s'g} klg cGo
Aofks cfDbfgL (Other Comprehensive Income) 5}g .
-3_ cfDbfgL / vr{sf] lx;fadf s'g} zLif{sdf 7"nf] dfqfdf kl/jt{g ePdf To;sf] ljZn]if0ffTds
sf/0f M cfDbfgL / vr{sf] lx;fadf s'g} zLif{sdf 7"nf] dfqfdf kl/jt{g gePsf] .
-ª_ kl5Nnf] ljQLo ljj/0fsf] n]vfk/LIf0f eP kZrft\ ;+ul7t ;+:yfsf] sf/f]af/df, gfkmf gf]S;fg, ;DklQsf] d"No jf
cfufdL !@ dlxgfsf] bfloTj e'QmfgLdf c;/ kg]{ u/L s'g} cj:yf l;h{gf ePsf] 5÷5}g ;f] ;DaGwdf
;~rfnsx?sf] wf/0ff M kl5Nnf] ljQLo ljj/0fsf] n]vfk/LIf0f eP kZrft\ ;+ul7t ;+:yfsf] sf/f]af/df, gfkmf
gf]S;fg, ;DklQsf] d"No jf cfufdL !@ dlxgfsf] bfloTj e'QmfgLdf c;/ kg]{ u/L s'g} cj:yf l;h{gf ePsf] 5}g .
-r_ cfly{s jif{ ;dfKt ePkl5 ljj/0fkq k]z u/]df, ljj/0fkq k]z u/]sf] ldltaf6 :jLs[lt x'g] ldlt ;Dddf
jf;nftsf] ldlt kl5sf] 36gfsf] af/]df 5'§} hfgsf/L ljj/0fkqdf ;dfj]z ug'{ kg]{M gePsf] .
-5_ ljut % jif{df ;DklQsf] k'gd"{NofFsg ul/Psf] 5÷5}g, olb ul/Psf] eP
-c_ ;DklQsf] ljj/0f,
-cf_ ;DklQsf] k"gd"{Nof+sg cl3 / kl5sf] lstfjL d"No
-O{_ k"gd"{Nofsgsf] cf}lrTo,
ljut % jif{df ;DklQsf] k'gd"{Nof+sg ul/Psf] 5}g .
-h_ cfufdL tLg jif{sf] k|If]lkt jf;nft, gfkmf–gf]S;fg lx;fa / gub k|jfx ljj/0fsf ;fy} To;sf u0fgfsf]
cfwf/x? M
k|If]lkt jf;nft
ljj/0f k|If]lkt -? xhf/df_
19
 2079-80 2080-81 2081-82
k"+hL / l/he{
z]o/ k"+hL 802,500 802,500 802,500
hu]8f tyf ;+lrt d'gfkmf (119,000) (45,427) 33,111
s'n k"+hL / l/he{ 683,500 757,073 835,611
bL3{sfnLg bfloTj
bL3{sfnLg C0f 535,438 493,348 435,699
:yflut s/ bfloTj - - -
s'n bL3{sfnLg bfloTj 535,438 493,348 435,699
xfnsf] bfloTj ljj/0f
xfnsf] C0f, pwf/f] 30,000 15,000 -
Jofkf/ / cGo e'Qmfg of]Uo /sd 8,298 12,628 41,122
k|fjwfg 405 654 803
cGo xfnsf] bfloTj - - -
s"n xfnsf] bfloTj 38,703 28,282 41,924
s"n bfloTj 574,142 521,630 477,624
s"n k+hL, l/he{ / bfloTj 1,257,641 1,278,703 1,313,235
l:y/ ;DklQ ljj/0f
hUuf, d]lzg tyf pks/0f Pj+ 1,934 1,527 1,207
cGot{ ;DklQ
cd" ;DklQ 1,145,872 1,100,490 1,055,109
cGo l:y/ ;DklQ - - -
s"n l:y/ ;DklQ 1,147,805 1,102,018 1,056,316
rfn' ;DklQ
gub / a}+s df}Hbft 21,837 42,740 66,428
Jofkf/ / cGo k|fKt x'g' kg]{ /sd 87,998 133,945 190,489
s"n rfn' ;DklQ 109,836 176,685 256,918
s"n ;DklQ 1,257,641 1,278,703 1,313,235

k|If]lkt gfkmf gf]S;fg lx;fa

ljj/0f k|If]lkt -? xhf/df_
2079-80 2080-81 2081-82
ljB't cfDbfgL 186,007 189,848 189,848
;+rfng vr{ (10,034) (10,423) (10,750)
hDdf cfo 175,793 179,425 179,097
cGo cfo 337 354 371
d"No X|f; (516) (406) (320)
kl/zf]wg (45,381) (45,381) (45,381)
k|zf;g vr{ (17,581) (17,513) (17,451)
Jofh / s/ eGbf klxn] gfkmf 112,831 116,478 116,316
3f6f
Jofh vr{ (54,848) (42,904) (37,778)

s/ cuf8L gfkmf 3f6f 57,983 73,573 78,537

cfos/sf] nflu k|fjwfg - - -
:ylut s/ ;dfof]hg - - -
s'n gkmf 3f6f 57,983 73,573 78,537
z]o/ ;+Vof 8,025,000 8,025,000 8,025,000
k|lt z]o/ cfDbfgL 7.23 9.17 9.79
cGo Jofkfs cfo
k'gd"{Nof+sg / cg'jfb df nfe / - - -
3f6f
k"j{ cfjlwsaf6 cfos/ - - -

20
 k|If]lkt gub k|jfx ljj/0f
ljj/0f k|If]lkt -? xhf/df_
2079-80 2080-81 2081-82
sf/f]af/ ;+rfngaf6 gub k|jfx
s/ k"j{ gfkmf / gf]S;fg 57,983 73,573 78,537

d"Nox|f; 516 406 320

cd"t{ ;DklQsf] kl/zf]wg 45,381 45,381 45,381
ljQLo vr{ 54,848 42,904 37,778
k"j{ cjlwaf6 ;dfof]hg - - -
sfo{zLn k"FhL ;dfof]hgx?
Jofkf/ / cGo k|fKox?df 36÷-a[l¢_ 11,913 (45,947) (56,544)
Jofkf/ / cGo e'QmfgLx?df j[l¢÷36 (32,038) 4,329 28,494
k|fjwfgx?df j[l¢÷36 (5,940) 248 148
;+rfngaf6 g]6 gub k|jfx 132,662 120,896 134,116
nufgL ultljlwaf6 gub k|jfx
l:y/ ;DklQsf] v/Lb - - -
cGo rfn' ;DklQx?df 36÷-a[l¢_ - - -
nufgL ultljlwaf6 g]6 gub k|jfx - - -
ljQLo ultljlwaf6 gub k|jfx
z]o/ k"+hLsf] Joj:yfdf yk÷36 353,100 - -
C0f / pwf/f]df j[l¢÷36 (410,349) (57,090) (72,648)
ljQLo vr{ (54,848) (42,904) (37,778)
ljQLo ultljlwaf6 g]6 gub k|jfx (112,097) (99,994) (110,427)
gub / gub ;dt'Nodf z'¢ a[l¢÷sdL 20,565 20,902 23,688
jif{sf] ;'?df gub / gub a/fa/ 1,272 21,837 42,740
jif{sf] cGTodf gub / gub a/fa/ 21,837 42,740 66,428
ut cfly{s jif{ @)&*÷)&( tyf cfufdL # jif{sf] k|If]lkt ljQLo ljj/0f hL k|sfz P08 P;f]l;P6\;,
;L=P= n]vfkfnåf/f g]kfn n]vf dfgs (Nepal Financial Reporting Standards- NFRS) cg'?k tof/ ul/Psf] 5
o; sDkgLsf] n]vfkl/If0f ul/Psf] ljut # jif{df / cg'dflgt # jif{sf] ljQLo ljj/0fdf s'g} klg cGo
Aofks cfDbfgL (Other Comprehensive Income) 5}g .
u=#=!-ª_ df /x]sf] ljw't vl/b ljls| ;Demf}tf cg';f/ k6s k6s u/L d"Noj[l¢ sfod x'g] tflnsfdf ljB't
cfDbfgLsf] ;'Vvf / jiff{ ofddf k|fKt x'g] k|lt o'lg6 b/nfO{ k|If]k0f sf] cfwf/ dfg]sf] 5 .

ljQLo k|If]k0fsf cfwf/x? tyf tl/sf M

@)&(÷)*) @)*)÷)*! @)*!÷)*@
ljB't cfDbfgLdf al¢ b/ 19.16% 2.06% 0%
;+rfng vr{df a[l¢ b/ 2.79% 3.88% 3.14%
k|zf;g vr{df a[l¢ b/ (9.76)% (0.39)% (0.35)%
ljB't cfDbfgLdf cfo s/ b/ 0% 0% 0%

Net present value (NPV) sf] nflu lnPsf] discount factor rate 11% /x]sf] 5 / sDkgLsf] ljlQo vr{sf] nflu lnPsf] C0fsf]
b/ 11% /x]sf] 5 .
jflif{s cfo / h]g/]zg ljj/0f
lah'nL pTkfbgaf6 Generation (Kilowatt
aif{ cfDbfgL -? xhf/df_ hour-KwH)
2076-77 af:tljs 141,327 25,416,958
2077-78 af:tljs 115,006 20,554,409
2078-79 af:tljs 156,095 26,754,942
2079-80 k|If]lkt 186,007 31,386,494

21
 2080-81 k|If]lkt 189,848 31,728,862
2081-82 k|If]lkt 189,848 31,728,862

k|If]k0fsf cfwf/
ljz]if k|If]k0fsf cfwf/
lah'nL laqmLaf6 g]kfn ljB't k|flws/0f ;+usf] kLkLP ;Demf}tf cg';f/ ljB't cfk"lt{sf nflu
cfDbfgL :jLs[t b/, hnlj1fg cWoog / sDkgLsf] pTkfbg Ifdtfdf j[l¢ ePsf] cfwf/df
ljB't pTkfbgsf] k|If]k0f sDkgLsf] ;+rfng Ifdtf leq 5 .
;~rfng nfut cfly{s jif{ @)&*÷)&( ;Ddsf] n]vf kl/lIft ljQLo ljj/0fsf] k|j[lt ljZn]if0f
cg';f/ / xfd|f] b]z g]kfnsf] cg'dflgt d'b|f:kmLltsf] cfwf/df .
k|zf;lgs vr{ cfly{s jif{ @)&*÷)&( ;Ddsf] n]vf kl/lIft ljQLo ljj/0fsf] k|j[lt ljZn]if0f
cg';f/ / xfd|f] b]z g]kfnsf] cg'dflgt d'b|f:kmLltsf] cfwf/df . k|lta¢ bfloTjx?
jt{dfg ;Demf}tfsf] cfwf/df cg'dflgt 5g\ .
Force Outage o; k|If]kgdf cfufdL jif{df Force Outage ;dfj]z u/]sf] 5}g .
d"Nox|f; l:y/ ;DklQsf] rf6{ cg';f/ l:y/ ;DklQsf] lgk6fgdf s'g} dxTjk"0f{ kl/jt{gx?
5}gg\ . sDkgLn] o;sf] cfwf/e"t k"jf{wf/x? Aojl:yt kf/]/ cfkm\gf] ;+Rffng
bIftf a9fPsf] 5 .
kl/zf]wg cd"t{ ;DklQ rf6{ cg';f/, l:y/ ;DklQdf kl/jt{g x'g] ;+s]t 5}g .
ljQLo nfut / sDkgLn] 5f]6f] cjlwsf] sfo{zLn k"FhL ljQkf]if0fsf] ?kdf cf]e/8«fkm\6 C0f k|fKt
pwf/f] u/sf] 5 . ljQLo ljj/0fdf cf]e/8«fkm\6 C0fsf] k|If]k0f :jLs[t ;Ldf leq 5 .
sDkgLn] o;sf] d'Vo cfwf/sf ?kdf ;DalGwt a}+sx?af6 sG;f]l6{od C0f lnPsf]
5 . k|If]k0fn] p7fPsf] k"FhLaf6 To:tf] C0fsf] e'QmfgL ;dfa]z ub{5 . sG;f]l6{od
;Demf}tfdf ePsf] Aofhb/ cg';f/ sDkgLsf] Aofh cg'dfg ul/Psf] 5 .
k"FhL z]o/ k"FhL j[l¢ cfOkLcf] of]hgf / jflif{s ;fwf/0f;ef :jLs[tL cg';f/ x'g]5 .
Aoj:yfkgn] sG;f]l6{od C0f lkmtf{ ug]{ of]hgf agfPsf] 5 .

C0f r'Qmf tflnsf

cjlw ;'? C0f C0f r'Qmf afFsL C0f cfly{s jif{
927,590,849 392,152,500 535,438,349 2079-80
535,438,349 42,090,000 493,348,349 2080-81
493,348,349 57,648,750 435,699,599 2081-82
435,699,599 53,030,228 382,669,371 2082-83
382,669,371 81,622,500 301,046,871 2083-84
301,046,871 84,450,000 216,596,871 2084-85
216,596,871 85,942,500 130,654,371 2085-86
130,654,371 88,815,000 41,839,371 2086-87
41,839,371 41,839,371 - 2087-88
k|If]lkt C0f r'Stf tflnsf df]n'Ë xfO8«f]kfj/;Fu ;DalGwt sG;f]l6{od j}+ssf] sG;f]l6{od ldl6Ëdf ePsf] lg0f{o cg';f/
l:js[t ePsf] xf] .
s_ cg'dflgt j}+s C0fsf] ljj/0f
sDkgLsf] C0f b'O{ k|sf/sf /x]sf 5g\ M–
!_ ;6{ 6d{ cf]e/8«fkm\6 nf]g -lnld6 ? % s/f]8_
@_ cfof]hgf lgdf{0f ;DkGgsf] nflu 6d{ nf]g -Consortium loan_
cg'dflgt cf]e/8«km\6 C0fj}+sjf6 :jLs[t ;Ldf leq 5 .
ljlQo ljj/0f 6d{ nf]gsf] k|If]k0f 6d{ nf]g contract sf] cfwf/df x'G5 h'g j}+sjf6 e'QmfgLsf] nflu k|dfl0ft गरिएको
5 . sDkgLsf] IPO jf6 k|fKt ePsf] /sd j}+ssf] 6d{ nf]g tyf cf]e/8«fK6 e'QmfgLsf nflu k|of]u ul/g] 5 .
a}+s C0fsf] ljj/0f M -? xhf/df_

22
 C0f /sd @)&( jf:tljs
PgPdaL a}+s – cf]e/8«fkm\6 $*,!(^
cjlw C0f ljj/0f
dxfnIdL a}+s !%^,#)$
Pg;L;L a}+s @)*,^$&
g]kfn OGe]i6d]G6 a}+s ln @^),$##
PgPdaL a}+s -nL8 a}+s_ #)@,@)$
s'n cjlw C0f (@&,%()
s'n a}+s C0f /sd (&%,&*&
Dffly pNn]lvt /sd sDkgLsf] @)&*–&( n]vfkl/IfLt ljj/0fdf ;dfj]z ul/Psf] 5 .
s'n C0f
s'n C0f ?= (@=&% s/f]8 6d{ nf]g / ?=%s/f]8 cf]e/8«fkm\6
jfFsL C0f ?=
;Ldf(&=%& s/f]8
r'Qmf ul/g] C0f ?= #%=#! s/f]8

v_ ljB't ljls|jf6 k|If]lkt cfDbfgL

cg'dflgt cfDbfgLsf] d'Vo cfwf/ ljB't ljls ;Demf}tf x'g] 5 .
!_ ljB't pTkfbgsf cg'dltkq ljB't ljsf; ljefujf6 lnPsf] 5 .
@_ ljB't vl/b ljls| ;Demf}tf g]kfn ljB't k|flws/0fsf] :jLs[t b//]6df cfwf/Lt x'g] 5 .
#_ sDkgLsf] pTkfbg Ifdtf
$_ hn lj1fgsf] cWoog
dfly pNn]v ul/P adf]lhd sDkgLaf6 tof/ ul/Psf] ljQLo ljj/0f tyf k|If]k0fsf] cg'dfg tyf cfwf/x?
xfnsf] ljQLo ahf/sf] l:ylt, lgisfzg sDkgLsf]] xfnsf] bIftf / lgisfzg sDkgLn]] k|fKt u/]sf]
xfn;Ddsf] sfo{ k|ultsf] cfwf/df k'g/fjnf]sg u/L ljj/0f 7Ls 5 egL k|dfl0ft ug]{ ljz]if1 hL k|sfz
P08 P;f]l;P6\;, rf6{8{ PsfpG6]G6;\ x'g'x'G5 .
u=(=@ ljQLo cg'kft ;DaGwL ljj/0f M
!= ;~rfng cjlw tLg jif{ Joltt e};s]sf] cj:yfdf ljut tLg jif{sf] / tLg aif{ Joltt e}g;s]sf] cj:yfdf
;~rfng cjlwsf] tyf cfufdL tLg jif{sf] k|If]lkt k|lt z]o/ cfDbfgL -EPS_ tyf k|lt z]o/ g]6jy{
lgDgfg';f/ 5 .
af:tljs -? xhf/df_ ckl/is[t * k|If]lkt -? xhf/df_
@)&(÷*)
ljj/0f @)&^÷&& @)&&÷&* @)&*÷&( @)&(÷*) @)*)÷*! @)*!÷*@
cflZjg d;fGt
r'Qmf k'+hL 435,484 449,400 449,400 449,400 802,500 802,500 802,500
hu]8f tyf ;+lrt (212,204) (225,441) (176,984) (151,518) (119,000) (45,427) 33,111
d'gfkmf
hDdf g]6jy{ 223,279 223,958 272,415 297,882 683,500 757,073 835,611
v'b gfkmf÷gf]S;fg (27,535) (13,237) 48,457 26,802 57,984 73,573 78,537
z]o/ ;+Vof -xhf/df_ 4,354.84 4,494 4,494 4,494 8,025 8,025 8,025
k|lt z]o/ cfDbfgL -?=_ (6.32) (2.95) 10.78 5.96 7.23 9.17 9.79
k|lt z]o/ g]6jy{ -?=_ 51.27 49.84 60.62 66.28 85.17 94.34 104.13
g]6jy{df cf}ift k|ltkmn (12.33) (5.92) 17.78 8.99 8.49 9.72 9.40
lgisfzg k"j{ k|lt z]o/ cfDbfgL sfod /fVg a[l¢ x'g] g]6jy{ cfjZos Go"gtd k|ltkmn M !#=*# %|
*@)&(÷)*) cflZjg d;fGt ;Ddsf] Aoj:yfkgaf6 k|dfl0ft ckl/is[t ljQLo ljj/0f
@= laut # jif{sf] g]6jy{df ePsf] cf}ift k|ltkmn M 3.83%

23
u=!)= lwtf]kq lgisfzg ;DaGwL ljj/0f M
u=!)=! lwtf]kq hf/L ug'{sf] p2]Zo M
sDkgLsf] k|aGw–kq tyf lgodfjnLdf ePsf] Aoj:yf eP cg';f/ o; ljj/0fkq dfkm{t sDkgLn] cfkm\gf]
hf/L k"+hLsf] !)Ü cyf{t ?=*,)@,%),)))÷— /sd a/fa/sf] ?=!))÷— c+lst b/sf *,)@,%)) lsQf
z]o/ cfof]hgf k|efljt cf]vn9'+uf lhNnfsf] df]n'Ë ufp+kflnsf, ;'gsf];L ufpFkflnsf / l;l4r/0f g=kf=sf
:yfgLo afl;Gbfx?sf nflu / hf/L k"+hLsf] #$Ü cyf{t ?=@&,@*,%),)))÷— /sd a/fa/sf] ?=!))÷—
c+lst b/sf @&,@*,%)) lsQf z]o/ ;j{;fwf/0fx?sf] nflu z]o/ lgisfzg ug{ nfluPsf] xf] . lgisfzgaf6
k|fKt /sd cfof]hgsf] shf{ e'QmfgLsf nflu k|of]u ul/g] d'Vo p2]Zo /x]sf] 5 .
s'n C0f
s'n C0f ?= (@=&% s/f]8 6d{ nf]g / ?=% s/f]8 cf]e/8«fkm\6 ;Ldf
jfFsL C0f ?= (&=%& s/f]8
r'Qmf ul/g] C0f ?= #%=#! s/f]8
u=!)=@ lwtf]kq lgisfzgaf6 k|fKt k"FhLsf] pkof]u M
-s_ lgisfzgaf6 k|fKt x'g] s"n /sdnfO{ s;/L / s'g If]qdf k|of]u ul/g] 5, tT;DaGwL ljj/0f M
sDkgLn] cfof]hgf k|efljt If]q cf]vn9'+Ëf lhNnf df]n'Ë ufp+kflnsf :yfgLo afl;Gbfx? /
;j{;fwf/0f/sf] nflu lgisfzg u/L k|fKt /sd shf{ e'QmfgLsf nflu k|of]u ug]{5 .
s'n C0f
s'n C0f ?= (@=&% s/f]8 6d{ nf]g / ?=%s/f]8 cf]e/8«fkm\6 ;Ldf
jfFsL C0f ?= (&=%& s/f]8
r'Qmf ul/g] C0f ?= #%=#! s/f]8
-v_ z]o/ lgisfzg ul/g] lwtf]kq k"0f{ ?kdf laqmL gePdf z]o/ lgisfzgsf] nflu p2]Zo k|fKtL ug{sf]
nflu ckgfOg] a}slNks Joj:yf M
cGo hnljB't sDkgLn] z]o/ lgisfzg ubf{ ljutdf dfu eGbf a9L z]o/sf] nflu b/vf:t k/L
z]o/ sf/f]af/ ;d]t eO{ ;s]sf] 5 . sy+sbflrt lgisfzg ul/g] lwtf]kq :yflgo afl;Gbfx?n] k"0f{
?kdf v/Lb gu/]df af+ls /xg] lwtf]kqnfO{ ;j{;fwf/0fx?sf] nflu lgisfzg ul/g] lwtf]kqdf yk u/L
laqmL ljt/0f ljt/0f ul/g]5 . ;fy}, ;j{;fwf/0fsf] nflu lgisfzg ul/g] lwtf]kq ;d]t k"0f{ ?kdf
laqmL gePdf lgisfzg ul/g] lwtf]kqsf] k|Tofe'lt ug{sf nflu >L nIdL Soflk6n lnld6]8, gofF
afg]Zj/, sf7df08f}, PgcfO{;L Plzof Soflk6n lnld6]8, cgfdgu/, sf7df08f} / gljn OGe]i6d]G6
j}+lsË, gf/fo0frf}/, sf7df8f}+4f/f k|Tofe'lt ;]jf k|bfg ul/Psf] 5 .
-u_ cfof]hgfsf] ;+rfng :yfg, cfof]hgf r/0fa4 ?kdf sfof{Gjog ul/g] eP k|To]s r/0fdf nfUg] vr{,
s'g} r/0f ;dfKt e};s]sf] eP ;f] ;DaGwL ljj/0f pNn]v ug'{ kg]{ M
sDkgLaf6 lgdf{0flwg cfof]hgf cf]nv9'Ëf lhNnfsf] df]n'Ë ufpFkflnsf j8f g+=@ / $ df kb{5 . ;f]
cfo]fhgfsf nflu cfjZos k"jf{wf/x?sf] lgdf{0f sfo{ ;DkGg eO{ ldlt @)&$÷!@÷!@ ut]af6
cfof]hgf ;+rfngdf /xL ljB't pTkfbg eO{/x]sf] 5 .
-3_ cfof]hgf ;DkGg x'g], kl/If0f pTkfbg z'? x'g] / k"0f{ Joj;flos pTkfbg z'? x'g] cg'dflgt ldlt pNn]v
ug'{ kg]{ M
cfof]hgsf] lgdf{0f sfo{ ;DkGg eO{ ldlt @)&$÷!@÷!@ b]lv k"0f{ ?kdf Joj;flos pTkfbg z'?
eO{;s]sf] 5 .
-ª_ ;+ul7t ;+:yfn] s'g} d'Vo pks/0f vl/b u/]sf] jf ug{ nfu]sf] eP pQm pks/0fsf] d'No jf k|:tfljt
d"No, ;Knfo;{sf] gfd / ;Knfo;{;+u ;Demf}tf ePsf] eP ;f] sf] d"Vo d"Vo a"+bfx? M
g]kfn xfO8«f] P08 On]lS6«s k|f= ln= af6 cfk"lt{ ul/Psf] pks/0fsf] s'n /sd ?= #^,%),@$^
pks/0f ljj/0f /sd ?= v/Lb ldlt k|of]hg
1 /g/ kf6{\;sf] cfk"lt{ 927,834 2078/10/10 :k]o/ kf6{\;sf nfuL

24
 2 dflyNnf] ;fO8 se/ 539,378 2078/10/10 :k]o/ kf6{\;sf nfuL
3 tNnf] ;fO8 se/ 545,222 2078/10/10 :k]o/ kf6{\;sf nfuL
4 ufO8 j]g 749,021 2078/10/10 :k]o/ kf6{\;sf nfuL
5 dflyNnf] a'lzª -sf/t";_ 84,720 2078/10/10 :k]o/ kf6{\;sf nfuL
8«fkm\6 6o"a / dflyNnf] km\NofGhdf 2078/10/10 :k]o/ kf6{\;sf nfuL
6 121,873
clwl/Qm l:6km]g/
7 d'Vo Ogn]6 eNe :k]o/ pks/0f 139,579 2078/10/10 :k]o/ kf6{\;sf nfuL
8 bafj 36fpg] eNe 122,679 2078/10/10 :k]o/ kf6{\;sf nfuL
d"No clej[l¢ s/ /sd 419,940 -

s'n /sd 3,650,246 -

gf]6M o; cof]hgfsf] lgd{f0f sfo{ ;DkGg e};s]sf] x'gfn] xfn ;Knfo/ ;+u s]xL ;demf}tf /x]sf] 5}g .
-r_ s'g} kf6L{;+u k|ltlnlk clwsf/, 6«]8dfs{, Ohfhtkq, /f]oN6L, ;xsfo{ ;DaGwdf jf ljQLo jf k|fljlws
;Demf}tf ul/Psf] eP ;f] sf] k|d'v zt{x? / kf6L{sf] gfd, 7]ufgf ;DaGwL lj:t[t ljj/0f M gePsf] .
-5_ pTkfbg ;DaGwL cfof]hgf eP, ;f] sf] k|s[tL, k|of]ustf{, k|lt:kwf{, nlIft ;d"x, pTkfbg Ifdtf,
ljutsf aif{x?sf] Ifdtf pkef]u jf eljiodf ul/g] Ifdtf pkef]u ;DaGwL ljj/0f M sDkgLaf6
lgdf{0fflwg df]n'Ë xfO{8«f]kfj/ sDkgL ln=-& d]ufjf6_ sf] s'n ljB't pTkfbg Ifdtf #%=&@( luufjf6
cfj/ /x]sf] 5 .
jflif{s cfo / h]g/]zg ljj/0f
lah'nL pTkfbgaf6 Generation (Kilowatt
aif{ cfDbfgL -? xhf/df_ hour-KwH)
2076-77 af:tljs 141,327 25,416,958
2077-78 af:tljs 115,006 20,554,409
2078-79 af:tljs 156,095 26,754,942
2079-80 k|If]lkt 186,007 31,386,494
2080-81 k|If]lkt 189,848 31,728,862
2081-82 k|If]lkt 189,848 31,728,862

;f]n' !#@ s]eL k|;f/0f nfOg cfO;s]kl5 sf] Generation df a[l¢ (Kwh)
महिना cf=j 2077/78 cf=j= 2078/79 Generation a[l4 (Kwh) % a[l4
फागुन 565,724.27 979,291.32 413,567.05 73.10%

चैत्र 423,366.25 856,875.00 433,508.75 102.40%

बैशाख 584,910.67 1,052,299.71 467,389.04 79.91%

जेठ 797,013.00 1,295,956.00 498,943.00 62.60%

कुल 2,371,014.19 4,184,422.03 1,813,407.84 76.48%

-h_ cfof]hgfsf] nflu cfjZos sRrf kbfy{sf] pknAwtf / To;sf] >f]t M df]n'Ë vf]nfsf] kfgL .
-´_ cfof]hgfsf] nflu cfjZos x'g] ljB'tsf] >f]t M g]kfn ljB't k|flws/0fsf] s]Gb|Lo k|zf/0f nfOgaf6
ljB't cfk"lt{ eO/x]sf] .
-`_ ;fj{hlgs lgisfzgsf] nflu ul/g] vr{ k|d'v ?kdf b]xfodf pNn]lvt kIfx?nfO{ lbg] z'Ns ;DaGwL
ljj/0f M
-c_ lgisfzg tyf laqmL k|aGws — ?=!,)),)))÷—
-cf_ 6«i6L -l8a]Gr/ lgisfzgsf] xsdf_ — ;f] gePsf] .

25
 -O_ k|Tofe"ltstf{ — ?= *,*@,&%)÷—
-O{_ lj1x?— ?=!,%),)))÷— z'Ns e'QmfgL ul/Psf] .
-p_ n]vfk/LIfs — cf=j=@)&*÷)&( df ? !,%),))) e'QmfgL ul/Psf] .
-pm_ cGo -h:t} ;+sng s]Gb|, lgisfzg a}+s cflb_ — ;f] gePsf] .
u=!)=# ;fj{hlgs lgisfzgaf6 k|fKt x'g] /sdnfO{ kl/of]hgfdf k|of]u ug'{ k"j{ cGo s'g} Joj:yf ug{ nfluPsf] 5
eg] tt\ ;DaGwL ljj/0f M xfn ;Dd To:tf] s'g} Joj:yf ul/Psf] 5}g .
u=!)=$ lk|ldoddf lwtf]kq hf/L ug]{ ePdf M z]o/sf] d'Nodf lk|ldod yk ul/Psf] 5}g .
u=!)=% lwtf]kqsf] afF8kmfF8, lkmtf{ e'QmfgL tyf ;"rLs/0f ;DaGwL ljj/0f M
-s_ cToflws dfu jf Go"g dfu ePsf] cj:yfdf afF8kmfF8sf] k|lqmof M
cfof]hgf k|efljt lhNnfjf;Lx?M
cf]vn9'Ëf lhNnfsf] df]n'Ë ufpFkflnsf, ;'gsf];L ufpFkflnsf / l;l4r/0f g=kf sf afl;Gbfx?sf] nflu
5'6\ofOPsf] !) k|ltztn] x'g cfpg] *,)@,%)) lsQf z]o/sf nflu :yfgLo afl;Gbfx?af6 cTolwdf
dfu eO{ cfPsf] cj:yfdf lwtf]kq lgisfzg tyf af+8kmf+8 lgb]{lzsfdf ePsf] Joj:yf cg';f/
;fwf/0f z]o/ af+8kmf+8 ul/g]5 . sDkgLn] :yfgLo afl;Gbfx?nfO{ v/Lb ug{ cfXjfg u/]sf] lwtf]kq
k"0f{ ?kdf laqmL geO{ af+sL /x]df jf Gog dfu ePdf lwtf]kq lgisfzg tyf af+8kmf+8 lgb]{lzsf,
@)&$ sf] bkmf -$_ sf] pklgod -#_ df ePsf] Joj:yf adf]lhd pQm af+sL /x]sf] z]o/x?
;j{;fwf/0fx?df lgisfzg ul/g] lwtf]kqdf yk u/L lgisfzg ul/g] 5 .
j}b]lzs /f]huf/Ldf /x][sf g]kfnLx? M
g]kfn ;/sf/sf] ;DalGwt lgsfoaf6 >d :jLs[lt k|fKt u/L ljb]zdf a;L /f]huf/ ul//x]sf
g]kfnLx?nfO{ ;'/lIft ul/Psf] ;j{;fwf/0fx?df lgisfzg ul/g] @&,@*,%)) lsQf lwtf]kqsf] !)
k|ltzn] x'g cfpg] @,&@,*%) lsQf ;fwf/0f z]o/sf nflu j}b]lzs /f]huf/Ldf /x]sf g]kfnLx?af6
cTolws dfu eO{ cfPsf] cj:yfdf k|rlnt lwtf]kq lgisfzg tyf afF8kmfF8 lgb]{lzsf, @)&$ -5}7f}+
;+zf]wg @)&(_ df ePsf] Joj:yf cg';f/ afF8kmfF8 ul/g]5 . sDkgLn] j}b]lzs /f]huf/Ldf /x]sf
g]kfnLx?nfO{ v/Lb ug{ cfXjfg u/]sf] lwtf]kq k"0f{ ?kdf laqmL geO{ afFsL /x]df jf Go"g dfu ePdf
lwtf]kq lgisfzg tyf afF8kmfF8 lgb]{lzsf, @)&$ -5}7f}+ ;+zf]wg ;lxt_sf] bkmf -$_ v sf] pkbkmf -^_
df ePsf] Joj:yf adf]lhd pQm afFsL /x]sf] z]o/x? ;j{;fwf/0f ;d'xdf yk u/L hf/L ul/g] 5 .
;j{;fwf/0f z]o/wgLx? M
o; ljj/0fkq dfkm{t hf/L ul/Psf] ;fwf/0f z]o/ vl/bsfnflu cfj]bgstf{x?af6 cTolws dfu eO{
cfPsf] cj:yfdf k|fKt ePsf cfj]bgx?nfO{ lwtf]kq lgisfzg tyf afF8kmfF8 lgb]{lzsf, @)&$ df
ePsf] Joj:yf cg';f/ af+8kmf+8 ul/g]5 . To;}u/L lgisfzg ul/Psf] cjlw e/df ;d]t
;j{;fwf/0fx?af6 Go"g dfu eO{ cfPsf] cj:yfdf af+sL /x]sf] z]o/ k|Tofe'ltstf{af6 k|Tofe'lt
;Demf}tfdf pnn]v ePsf] zt{ adf]lhd v/Lb x'g]5 .
-v_ cToflws dfu ePsf] jf afF8kmfF8 gePsf] cj:yfdf lkmtf{ e'QmfgL ;DaGwL Aoj:yf M
lgisfzg tyf afF8kmfF6 lgb]{lzsf @)&$ df ePsf] Joj:yf cg';f/ z]o/ afF8kmfF8 u/] kZrft ef}lts
cfj]bg kmf/fd dfkm{t cfj]bg u/]sfsf] xsdf af+8kmf+8df gk/]sf] /sd cfj]bgstf{n] cfj]bg kmf/fddf
pNn]v u/]sf] a}s vftfdf hDdf x'g] u/L IPS dfkm{t lkmtf{ e'QmfgL lbg] Joj:yf ldnfO{g] 5 . cf:jf
k|0ffnL dfkm{t cfj]bg lbPsf cfj]bgstf{x? tyf j}b]lzs /f]huf/Ldf /x]sf] g]kfnLx?sf] xsdf z]o/
afF8kmfF8 u/L k"0f{ jf cf+lzs ?kdf l:js[t / cl:js[t ePsf] Joxf]/f pNn]v u/L lwtf]kq vl/b -
:yfgLo tyf ;j{;swf/0f_ sf] xsdf z]o/ af+8kmf+8 u/L k"0f{ jf cf+lzs ?kdf l:js[t / cl:js[t
ePsf] Joxf]/f pNn]v u/L lwtf]kq vl/b -;fj{hlgs lgisfzg_ ;DaGwL lgb]{lzsf, @)&# sf] cg';"rL
& adf]lhdsf] ljj/0f ;DalGwt cf:jf (ASBA) ;b:o a}+s tyf ljQLo ;+:yfx?nfO{ pknAw u/fO{g]5
/ ;f]xL ljj/0fsf cfwf/df ;DalGwt cfj:jf ;b:o a}+s tyf ljQLo ;+:yfx?n] af+8kmf+8df gk/]sf]
z]o/ jfktsf] /sd ;DalGwt cfj]bsx?sf] /f]Ssf /x]sf] a}+s vftf km's'jf u/L lkmtf{ ul/lbg]5 .
-u_ lgj]bg ;fy k|fKt /sdsf] lkmtf{ e'QmfgLdf l9nfO ePdf lbOg] Aofhb/ M
cfof]hgf k|efljt If]qsf afl;Gbfx?sf] xsdf M

26
 ef}lts cfj]bg kmf/fd dfkm{t cfj]bg u/]sfsf] xsdf lwtf]kq lgisfzg tyf af+8kmf+8 lgb]{lzsf, @)&$ sf]
bkmf @( -#_ df ePsf] Aoj:yf cg';f/ æpkbkmf -@_ afd]lhd e'QmfgL lkmtf{ ubf{ lwtf]kq laqmL aGb ePsf]
ldltb]lv e'QmfgL lbg z'? u/]sf] cl3Nnf] lbg;Ddsf] ;/sf/L C0fkqsf] k|rlnt clGtd Aofhb/sf] cfwf/df
x'g cfpg] Aofh afktsf] /sd ;lxt lkmtf{ e'QmfgL lbg' lgisfzgstf{ / lgisfzg tyf laqmL k|aGwsf]
;+o'Qm bfloTj x'g]5 .Æ cf:jf dfkm{t cfj]bg lbPsfsf] xsdf of] Joj:yf nfu'x'g] 5}g .
;j{;fwf/0f z]o/wgLsf] xsdf M
o; lgisfzgdf lwtf]kq v/Lb -;fj{hlgs lgisfzg_ ;DaGwL lgb]{lzsf, @)&# -cf:jf_ n] u/]sf] Joj:yf
adf]lhd cfj]bg dfu ug'{kg]{ ePsf]n] ;f] Joj:yf nfu' x'g] 5}g .
-3_ lwtf]kq afF8kmfF8 tyf k|df0fkq hf/L ;DaGwL k|s[of / ;dofjlw M
lgisfzg ul/g] ;fwf/0f z]o/x? k|rlnt lwtf]kq lgisfzg tyf afF8kmfF8 lgb]{lzsf @)&$, ;DaGwL
Joj:yf cg';f/ ;fwf/0f z]o/sf] lgwf{l/t ;do leq afF8kmfF8 u/L g]kfn :6s PS;r]Gh lnld6]8df
;"lrs/0f tyf l;l8P; P08 lSnol/Ë lnld6]8df btf{ eP kZrft cfj]bg kmf/fddf pknAw u/fPsf]
lxtu|fxL vftfdf afF8kmfF8df k/]sf] z]o/ ljt/0f÷hDdf ug]{ Joj:yf ldnfO{g]5 .
-ª_ lwtf]kq ;"lrs/0f e};s]sf] eP, To:tf] lwtf]kq ;"rLs/0f ul/Psf] lwtf]kq ahf/sf] gfd / lwtf]kq
sf/f]af/ z'? x'gsf] nflu ;+ul7t ;+:yfn] k'/f ug'{ kg]{ zt{x? ;DaGwL ljj/0f M
lgisfzg ug]{ ;fwf/0f z]o/ ;"rLs/0f eO;s]sf] 5}g . ;j{;fwf/0fnfO{ z]o/ lgisfzg ul/ afF8kmfF8
u/]kZrft Ps};fy g]kfn :6s PS;r]Gh lnld6]8df k|rlnt ;"lrs/0f ;DaGwL Joj:Yff cg';f/
;"rLs/0f tyf l;l8P; P08 lSnol/Ë lnld6]8df lwtf]kq btf{ u/fO{ z]o/ vl/b laqmLsf] Joj:yf
ldnfOg] 5 .
-r_ lwtf]kq ;"lrs/0f e}g;s]sf] eP, ;+ul7t ;+:yfn] lgisfzg tyf laqmL ul/g] lwtf]kqx?k|rlnt P]g,
lgod cg';f/ ;xh v/Lb ljqmL jf ljlgdo x'g ;Sg] u/fpgsf] nflu ul/g] Aoj:yf ;DaGwL ljj/0f M
lgisfzg ul/g] ;fwf/0f z]o/ ælwtf]kq lgisfzg tyf afF8kmfF8 lgb]{lzsf, @)&$Æ df ePsf] Joj:Yff
cg';f/ ;fwf/0f z]o/sf] afF8kmfF8 u/] kZrft g]kfn :6s PS;r]Gh lnld6]8df k|rlnt ;"lrs/0f ;DaGwL
Joj:yf cg';f/ ;"rLs/0f tyf l;l8P; P08 lSnol/Ë lnld6]8df lwtf]kq btf{ u/fO{ z]o/ vl/b
laqmLsf] Joj:yf ldnfOg] 5 .
u=!)=^ k|Tofe"lt ;DaGwL ljj/0f M
-s_ lwtf]kq k|Tofe"lt ug]{ ;+ul7t ;+:yfsf] gfd, 7]ufgf / k|Tofe"lt ug]{ lwtf]kqsf] ;+Vof / /sd
k|Tofe'lt ug{sf nflu >L nIdL Soflk6n lnld6]8, gofF afg]Zj/, sf7df08f}, PgcfO{;L Plzof Soflk6n
lnld6]8, cgfdgu/, sf7df08f} / gljn OGe]i6d]G6 j}+lsË, gf/fo0frf}/, sf7df8f}+4f/f k|Tofe'lt ;]jf
k|bfg ul/Psf] 5 . o; ljj/0fkq cg';f/ cfof]hgf k|efljt If]q+sf jfl;Gbfx?nfO{ ljt/0f ul/g] ;fwf/0f
z]o/x? lglZrt ;d"xnfO{ tf]s]/ ljqmL ul/g] ePsf]n] / ljqmL gePsf z]o/x? o;kl5 ;j{;fwf/0fx?sf]
nflu ljqmL ljt/0f ul/g] ;fwf/0f z]o/df yk u/L ljqmL ul/g] ePsf]n] ;f] ;d"xsf] z]o/ k|Tofe'tL ug'{
gkg]{ . t/, ;j{;fwf/0fsf] nflu 5'6\ofOPsf] z]o/sf] !))Ü z]o/ k|Tofe"lt ul/Psf] 5 .
k|Tofe"lt ul/Psf] z]o/ k|Tofe"lt ul/Psf] /sd
qm=;+= k|Tofe"ltstf{sf] gfd
;Vof -?=_
! nIdL Soflk6n dfs]{6 lnld6]8 !@,)),))) !@,)),)),)))÷–
@ Pg cfO{ ;L Plzof Soflk6n lnld6]8 !&,^%,%)) !&,^%,%),)))÷–
# glan OGe]i6d]G6 a}lsË lnld6]8 %,^%,%)) %,^%,%),)))÷—
hDdf #%,#!,))) #%,#!,)),)))÷–

27
 -v_ lwtf]kq k|Tofe"ltstf{;+u ul/Psf] ;Demf}tfsf] d'Vo d'Vo a"+bfx?
!= o; sDkgLn] ;j{;fwf/0fdf ;j{;fwf/0fdf lgisfzg ug{ nfu]sf] ?=!))÷– c+lst b/sf
#%,#!,))) lsQf z]o/sf] hDdf d"No #%,#!,)),)))÷– sf] )=@%Ü sf b/n] k|Tofe"ltstf{n]
k|Tofe't ug{ d~h'/ ub{5 . h;df cfof]hgf k|efljt If]qsf] nflu 5'6\ofO{Psf] *,)@,%)) lsQf z]o/
dWo] cfj]bg sd x'g uO{ afFsL /x]df ;f] ;d]t ;+nUg ul/ k|Tofe"ltstf{n] dfly pNn]lvt b/df
k|Tofe'lt ;]jf k|bfg ug{ d~h'/ ub{5 .
@= sDkgLn] k|Tofe'tL ;]jf k|fKt u/] jfkt k|Tofe"ltstf{x?nfO{ ?= *,*@,&%)÷— -cIf]?kL cf7 nfv
jof;L xhf/ ;ft ;o krf; ?k}+of_ e'QmfgL u/]sf] 5 .
#= k|Tofe"ltstf{n] ;Demf}tf cg';f/ sa'n u/]sf] z]o/ lsQf ;Ddsf] bfloTj jxg ug]{5 .
$= ;j{;fwf/0fdf z]o/ las|L ubf{ ;Dk"0f{ z]o/sf nflu cfj]bg k|fKt ePdf k|Tofe"\ltstf{sf] bfloTj :jtM
k'/f x'g]5 .
u=!)=& cfj]bg lbFbf Wofg lbg'kg]{ s'/fx? M
-s_ lwtf]kqjfnfsf] clwsf/ tyf k|ltaGwfTds Joj:yfx? h:t} dtflwsf/, nfef+z, xsk|b z]o/,
lwtf]kqjfnfsf] clwsf/df kl/jt{g ug]{ k|s[of tyf lwtf]kqsf] vf/]hL cflb ;DaGwL ljj/0f M
lwtf]kqafnfsf] clwsf/ tyf k|ltjGwfTds Joj:yf h:t} dtflwsf/, nfef+z, xsk|b z]o/,
lwtf]kqjfnfsf] clwsf/df kl/jt{g ug]{ k|s[of tyf lwtf]kqsf] vf/]hL cflb ;DaGwL Joj:yf k|rlnt
sfg"g adf]lhd x'g]5÷ul/g]5 . ;fy}, nfef+z, xsk|b z]o/ cflb ;DaGwL ljj/0f sDkgNf] lgoldt ?kdf
cfh{g ug]{ d'gkmf, tyf sDkgLsf] k"+hL of]hgf cg';f/ k|rlnt sfg"g adf]lhd ul/g]5 .
-v_ lgodfjnL, k|aGwkq k|fKt ug]{ jf x]g{ ;lsg] 7fp+, e'QmfgL ug]{ tl/sf, lng'kg]{ Go"gtd lwtf]kq ;+Vof /
;f] eGbf dfly lng] ePdf s'g u'0ffÍdf lng ;lsg] xf] ;f] ;DaGwL ljj/0f M
!_ sfof{no ;do leq lgDglnlvt :yfgx? tyf tf]lsPsf] ;+sng s]Gb|df sDkgLsf] k|aGwkq tyf
lgodfjnL / ljj/0f kq lg/LIf0f ug{ ;lsg]5 .
sDkgLsf] /lhi68{ sfof{no, jfudtL c~rn, sf7df08f} lhNnf, /ljejg / o; lgisfzg
sfo{sf nflu lgo'Qm lwtf]kq lgisfzg tyf laqmL k|jGws >L ;g\/fO{h Soflk6n lnld6]8,
sdnkf]v/L, sf7df8f} .
@_ o; ljj/0fkq dfkm{t lgisfzg ul/g] ;fwf/0f z]o/ vl/bsf nflu cfj]bsn] sDkgL !) -bz_ lsQf
z]o/ v/Lbsf nflu cfj]bg lbg'kg]{5 . !) -bz_ lsQf eGbf al9 z]o/sf nflu cfj]bg lb+bf !)
-bz_ c+ssf] u'0fg ;+Vofdf clwstd *,))) -cf7 xhf/_ lsQf z]o/sf nflu cfj]bg lbg ;Sg]5g\
. ;fwf/0f z]o/sf nflu cfj]bg lb+bf cfkm'n] v/Lb ug{ rfx]sf] k|lt ;fwf/0f z]o/ jfkt ?=!))÷—
-Ps ;o_ sf b/n] x'g cfpg] Psd'i7 /sd b/vf:t ;fy a'emfpg' kg]{5 . ?=%),)))÷—eGbf a9L
/sdsf] nflu cfj]bg lb+bf Psfp06 k]oL r]s dfkm{t cfj]bg /sd lbg'kg]{5 .
-u_ cfj]bg lb+bf kfngf ug{ kg]{ zt{ aGb]hx? h:t} Ps eGbf a9L b/vf:t lbg gkfOg], nufgLstf{sf]
klxrfgsf] nflu gful/stf÷hGdbtf{sf] k|dfl0ft k|df0fkqsf] k|ltlnlk k]z ug'{kg]{ jf lwtf]kq bnfn
Joj;foLn] lbPsf] u|fxs klr/o kq / ;DalGwtf Joj;foLsf] gfd v'nfpg'kg]{ / a}+s vftf dfkm{t
sf/f]af/ ul/g'kg]{ h:tf kIfx? M
cf]vn9'Ëf lhNnfsf], df]n'Ë ufpFkflnsf, ;'gsf]zL ufpFkflnsf / l;l4r/0f g=kf=sf :yflgo afl;Gbfx?n]
o; ljj/0fkq dfkm{t lgisfzg ul/g] ;fwf/0f z]o/ lgDg k|s[of k'/f ePsf] cj:yfdf z]o/ cfj]bg lbg
;Sg]5g\ M
!= cfj]bsn] b/vf:t kmf/ddf tf]lsP adf]lhd ;Dk"0f{ ljj/0f e/L clgjfo{ ?kn] xfn;fn} lvr]sf] kmf]6f] ;lxt
cfkm}n] b:tvt u/L cfof]hgf k|efljt lhNNffsf afl;Gbf k|dfl0ft ug]{ :yflgo lgsfoaf6 hf/L sfuhft ;lxt
b/vf:t kmf/d a'emfpg' kg]{5 .
@= !^ jif{ pd]/ k'u]sf] xsdf cfj]bsn] cfkm\gf] gful/stf k|df0fkqsf] k|ltlnlk :jo+n] k|dfl0ft u/L clgjfo{
?kdf b/vf:t kmf/d a'emfpFbf k]z ug'{kg]{5 .
#= !^ aif{eGbf sd pd]/sf nflu cfdf÷afa'n] ;+/Ifs eO{{ cfj]bg lbg'' k/]df g]kfn ;/sf/sf] kl~hsflwsf/Lsf]
sfof{noaf6 k|fKt gfafnssf] hGdbtf{ k|df0f–kqsf] k|ltlnlk ;+/Ifsåf/f clgjfo{{ ?kdf k||dfl0ft u/L
cfj]bg;fy k]z ug'{kg]{5 . ;fy} b/vf:t kmf/ddf ;+/Ifssf] gful/stf k|df0fkqsf] k|ltlnlk ;d]t ;+/Ifs
:jo+n] k|dfl0ft u/L ;+nUg ug'{ kg]{5 .
$= ljjfx e} cfPsf dlxnfsf xsdf ljjfxbtf{ k|df0fkqsf] k|ltlnlk ;d]t ;+nUg u/]sf] x'g' kg]{5 .

28
 %= aF;fO{+;/fO{ ul/ cfPsf] xsdf cfJxfgkq k|sflzt x'g' eGbf cufj} aF;fO{ ;/fO{ u/L cfPsf] k|df0fkqsf]
k|ltlnkL ;d]t ;+nUg u/]sf] x'g'kg]{5 .
^= dfly pNn]lvt x'g 5'6]sf ljt/0f k|lqmofdf ljjfb cfPdf ;DalGwt sfof{nosf] ;j{blno ;+oGqsf] lg0f{o jf
lhNnf ljsf; ;ldltsf] ;j{blno ;+oGqsf] lg0f{o ;lxtsf] l;kmfl/; kq k]z ug'{kg]{5 .
&= !^ aif{ pd]/ k'uL gful/stf lnPsf] t/ ljjfx u/L cf]vn9'+uf lhNnf 5f]l8 cGo lhNnf uPsf dlxnf Pj+
lhNnf 5f]l8 a;fO{ ;/fO{ u/L uPsf JolQm / kl/jf/x?df pNn]lvt ;'/lIft z]o/ lng]] clwsf/ /xg]] 5}g .
*= cfdf afa' afx]s cGo JolQm ;+/Ifs e} gfafns jf ljlIfKt JolQmsf] gfddf b/vf:t lb+bf sfg'g adf]lhd
;+/IfsTjsf] k|df0f k]z ug{'kg]{5 .
(= lwtf]kq vl/b ug{sf nfuL b/vf:t lbg rfxg]n] tf]lsPsf] ;+sng s]Gb|df z]o/ vl/bsf] nfuL b/vf:t
a'emfpg' kg]{5 .
!)= cfj]bg kmf/d a'emfpFbf b/vf:t kmf/ddf Go"gtd ?kdf v'Ng'kg]{ egL tf]lsPsf ljj/0fx? ;a} :ki6 ?kdf
e/]sf] b/vf:t kmf/d a'emfpg' kg]{5 .
!!= Ps JolQmn]] cfkm'n] lng rfx]sf]] ;Dk"0f{ z]o/sf]] nflu Psj6f dfq cfj]bg u/]sf]] x'g' kg]{5 . olb Ps}
olQmn]] Ps eGbf a9L cfj]bg lbPsf] e]l6Pdf lghn] lbPsf] ;a} cfj]bgx?nfO{ /2 ul/g]5 .
!@= pBf]u k|efljt lhNnfsf afl;Gbfaf6 cfj]bg dfu ubf{ a;fO{;/fO{ jf cGo sf/0fn]] a;fO{ ;/]sfx?n]
cfj]bg lbg kfpg] 5}gg\ .
!#= ;fwf/0f z]o/ vl/b ug{sf nflu b/vf:t lbg] JolQm :jo+n] b/vf:t kmf/ddf b:tvt u/L tf]lsPsf]
;+sng s]Gb|x?df ;fwf/0f z]o/ vl/bsf nflu b/vf:t a'emfpg' kg]{5 . o;/L b/vf:t kmf/ddf b:tvt
gu/]sf] / tf]lsPsf ;+sng s]Gb|x? afx]s cGo :yfgx¿df b/vf:t kmf/d a'emfPsf] b/vf:t kmf/dnfO{{ /2
ul/g]5 .
!$= cfof]hgf k|efljt lhNnfsf afl;Gbfx?n] z]o/ vl/b u/]df ;j{;fwf/0fsf nflu ;fj{hlgs lgisfzg ul/g]
;fwf/0f z]o/sf]] nflu k'gM cfj]bg lbg kfpg]] 5}gg\ .
!%= ;Dk"0f{ b/vf:tjfnfx? -gfafnsx? ;d]t_ n] clgjfo{ ?kdf cfkm\gf] vftf /x]sf] a}+s jf ljQLo ;+:yfsf]
gfd, 7]ufgf / vftf gDa/ ;d]t :ki6 ?kdf b/vf:t kmf/ddf v'nfpg' kg]{5 . b/vf:tjfnfn] b/vf:t
kmf/ddf cfkm\gf]] vftf gDa/ pNn]v ubf{{ Clearing House sf] ;b:o ePsf] a+}s jf ljQLo ;+:yfdf ePsf]
vftf gDa/ pNn]v ug'{ kg]{5 .
!^= ?=%),)))÷–eGbf a9L nufgL ug]{ b/vf:tjfnfn] b/vf:t lb+bf clgjfo{ ?kdf PsfpG6k]oL r]s dfkm{t
/sd hDdf ug'{ kg]{5 .
!&= ?=% nfv ;Dd /sd a/fa/sf] cfj]bg ug]{ b/vf:tjfnfn] :j]lR5s ?kdf / ?=% nfv eGbf a9L /sd
a/fa/sf]] cfj]bg ug]{ b/vf:tjfnfn] clgjfo{ ?kdf Kofg (PAN No.) gDa/ b/vf:t kmf/ddf v'nfpg'
kg]{5 .
!*= b/vf:tjfnfn] Psf3/ kl/jf/ afx]s Ps eGbf a9L b/vf:t kmf/d ;dfj]z u/L cfj]bg lbPsf] cj:yfdf
k|To]s b/vf:tjfnfn] cfkm\g} vftfsf] Psfp06 k]oL r]s a'emfpg'kg]{5 .
!(= lxtu|fxL vftf vf]nL ;s]sf] cfj]bssf] xsdf lxtu|fxL vftf g+= pNn]v ug'{kg]{5 .
@)= ;fy} g]kfn lwtf]kq af]8{af6 ldlt @)&%÷!)÷)& sf] lgb]{zg adf]lhd cfof]hgf k|efljt If]qsf
:yflgojf;Lx?n] P]lR5s ?kdf cf:jf k|0ffnLdfkm{t\ cfj]bg lbg ;Sg] 5 .
@!= cfof]hgf k|efljt tyf clt k|efljt lhNnfsf afl;Gbfx?sf] nflu ljt/0f ul/Psf] z]o/ ;j{;fwf/0fsf
nflu lgisfzg ul/Psf] z]o/ afF8kmf6 ePsf] ldltn] tLg jif{ k"/f geP;Dd c? s;}nfO{ laqmL jf
x:tfGt/0f ug{{ kfOg] 5}g .
j}b]lzs /f]huf/Ldf /x]sf g]kfnLx?sf] xsdf M
!= g]kfn ;/sf/sf] ;DalGwt lgsfoaf6 >d l:js[lt lnO{ ljb]zdf j;L /f]huf/L ul//x]sf g]kfnLx?n] o; ljj/0fkq
cg';f/ cfj]bg ug{ kfpg]5g\ .
@= o; ljj/0fkq cg';f/ lwtf]kq vl/b ug{ rfxg] g]kfnLx?n] z]o/df cfj]bg lb+bf g]kfn lwtf]kq af]8{af6 b/vf:t
;+sng ;DalGw sfo{ ug{ cg'dlt k|fKt cf:jf ;b:o a}+s jf ljQLo ;+:yfdf /x]sf] ljk|]if0f -/]ld6\ofG;_ art vftf
dfkm{t dfq e'QmfgL ug'{kg]{5 .
#=z]o/df cfj]bg ug{ ljk|]if0f -/]ld6\ofG;_ art vftfdf kl5Nnf] 5 dlxgfdf sDtLdf %) xhf/ g]kfnL ?k}ofF ;DalGwt
cfj]bsn] cfkm' /f]huf/ /x]sf] d'n'saf6 hDdf u/]sf] x'g' kg]{5 .
$= g]kfn ;/sf/sf] ;DalGwt lgsfoaf6 >d l:js[lt lnO{ j}b]lzs /f]huf/Ldf /x]sf g]kfnLx?n] o;/L cfj] bg ug{sf
nflu l8Dof6 clgjfo{ /x]sfn] ;DalGwt lgIf]k ;b:ox?af6 k|bfg ul/g] cgnfO{6 kf]6{nx?af6 klg l8Dof6 vftf
vf]Ng ;Sg]5g\ .
%=lgisflzt z]o/df cfj]bg lbPsf ljb]zdf a;L /f]huf/ ul//x]sf g]kfnL gful/sn] ;j{;fwf/0fnfO{ 5'6 \ofO{Psf] z]o/df
cfj]bg ug{ ;Sg] 5}gg\ .

29
 ^= cfof]hgf k|efljt If]qsf afl;Gbfsf nflu lgisfzg ul/Psf] z]o/df afF8kmfF8df k/]sf z]o/wgLx?n] o; lgisfzgdf
cfj]bg lbg kfpg] 5}gg\/ olb cfj]bg u/]sf] kfO{Pdf ;f] cfj]bg :jtM cof]Uo 7xl/g] 5 .
&= cf:jf (ASBA) ;]jfdf ;xefuL a}s tyf ljQLo ;+:yfn] ASBA cGt{ut lng] cfj]bgsf] 9fFrf lwtf]kqsf] ;fj{hlgs
lgisfzgsf] s]lb|s[t ljB'tLo ;]jf ;DaGwL sfo{ ;~rfng lgb]{lzsf, @)&$ sf] cg';'rL % adf]lhd x'g'kg]{5 .
*= cf:jf (ASBA) ;]jfdf ;xefuL a}s tyf ljQLo ;+:yfn]ASBA cGt{ut lng] cfj]bgsf] 9fFrf lwtf]kqsf] ;fj{hlgs
lgisfzgsf] s]lb|s[t ljB'tLo ;]jf ;DaGwL sfo{ ;~rfng lgb]{lzsf, @)&$ sf] cg';'rL % adf]lhd x'g'kg]{5 .
(= l;l8P; P08 lSnol/Ë lnld6]8af6 pknAw u/fO{Psf] æd]/f] z]o/Æ ;ˆ6j]o/af6 klg cfj]bsn] cfj]bg ug{ ;Sg]5g\ .
To;sf nflu cfj]bsn] cfˆgf] lxtu|fxL vftfdf a}+s vftfsf] ljj/0f pNn]v ul/;s]sf] x'g' kg]{5 / ;DalGwt a}+s
tyf ljQLo ;+:yfaf6 CRN g+= lnO{;s]sf] x'g' kg]{5 .
!)= l/tk"j{s k|fKt gePsf] b/vf:t tyf cfj]bg kmf/fddf pNn]v ePsf] lxtu|fxL vftf g+= / cfj]bssf] gfd
l;l8P;;Lsf] clen]vdf km/s k/]sf] kfO{Pdf ;f] kmf/fdnfO{ z]o/ afF8kmfF6df ;dfj]z gul/g] x'+bf cfj]bg kmf/fddf
e/]sf] lxtu|fxL vftf g+= cfj]bs :jo+n] Plsg ug'{kg]{5 .
!!+= l/tk"j{s k|fKt gePsf] b/vf:t tyf cfj]bg kmf/fddf pNn]v ePsf] lxtu|fxL vftf g+= / cfj]bssf] gfd
l;l8P;;Lsf] clen]vdf km/s k/]sf] kfO{Pdf ;f] kmf/fdnfO{ z]o/ afF8kmfF6df ;dfj]z gul/g] x'+bf cfj]bg kmf/fddf
e/]sf] lxtu|fxL vftf g+= cfj]bs :jo+n] Plsg ug'{kg]{5 .
!@= cfj]bsn] cfj]bg kmf/d a'emfpFbf b]xfosf s'/fx?df ljz]if Wofg lbO{ :ki6;+u cfj]bg kmf/d e/L a'emfpg' kg]{5 M
s= lwtf]kq lgisf;gstf{ sDkgLsf] gfd .
v= cfj]bssf] gfd, y/, 7]ufgf, gful/stf g+=, b:tvt, ;Dks{ kmf]g g+=, Od]n 7]ufgf .
u= vl/b ug{ rfx]sf] lwtf]kqsf] ;+Vof –c+s / cIf/df .
3= vl/b ug{ rfx]sf] lwtf]kq jfktsf] /sd –c+s / cIf/df .
ª= cfj]bssf] vftf /x]sf] a}+ssf] gfd, 7]ufgf, vftf g+= / vftfsf] lsl;d .
r= cfj]bssf] lxtu|fxL –l8Dof6 vftf gDa/
!#= cfj]bsx?n] cfj]bg lb+bf l;–cf:jf ;b:o a}+sx?df /x]sf] cfj]bg jfktsf] /sd /f]Ssf /flvg] vftf cGo s'g}
k|sf/n] /f]Ssf /x]sf] jf lgliqmo (Dormant) /x]sf] x'g' x'b}g .
!$= cfj]bg lbPsf] /sd a/fa/sf] /sd vftfdf x'g'kg]{5 .
\!%= Ps JolQmn] cfkm'n] vl/b ug{ rfx]sf] ;fwf/0f z]o/sf] nflu Ps eGbf a9L b/vf:t lbg kfOg] 5}g . olb Ps
JolQmsf] gfddf Ps eGbf a9L cfj]bg k|fKt x'g cfPdf ;Dk'0f{ b/vf:tnfO{ /2 ul/g]5 .
!^= lwtf]kq v/Lbsf] nflu b/vf:t lb+bfsf] cj:yfdf jf b/vf:t lbO{;s]kl5 v/Lb u/]sf] lwtf]kq jfktsf] /sd e'QmfgL
gx'+b} k|rlnt sfg'g adf]lhd clwsf/ k|fKt clwsf/L jf lgsfoaf6 nufgLstf{sf] vftf /f]Ssf /fVg] cfb]z k|fKt
ePdf lgisfzg tyf ljqmL k|aGwsn] To:tf] b/vf:t kmf/fdnfO{ cfb]z adf]lhd ug]{5 .
!&= lwtf]kq afF8kmfF8 ug'{k'j{ clVtof/ k|fKt lgsfoaf6 s'g} nufgLstf{sf] vftf /f]Ssf /fVg cfb]z jf lgb]{zg k|fKt
ePdf ;DalGwt a}+s jf ljQLo ;+:yfn] To:tf] cfb]z jf lgb]{zg cg';f/ ;DalGwt nufgLstf{sf] vftf /f]Ssf u/L
To;sf] hfgsf/L t'?Gt lgisfzg tyf ljqmL k|aGwsnfO{ lbg' kg]{5 .
!*= z]o/sf] afF8kmfF8 u/L ;"lrs/0f eP kZrft afF8kmfF8df k/]sf cfj]bsx?nfO{ afF8kmfF8df k/]sf] z]o/ lghx?sf]
lxtu|fxL vftfdf hDdf ug{] Joj:yf ul/g] ePsf]n] ;Dk"0f{ cfj]bsx?n] clgjfo{ ?kdf cfkm\gf] lxtu|fxL vftf g+=
cfj]bg kmf/fddf pNn]v ug'{ kg]{5 .
!(= ?=%,)),)))÷– ;Ddsf] nflu cfj]bg lbg] cfj]bsn] :j]lR5s ?kdf / ;f]eGbf a9L /sdsf] nflu cfj]bg lbg]
cfj]bsn] clgjfo{ ?kdf cfj]bgdf cfkm\gf] :yfoL n]vf gDa/ (PAN) v'nfpg'kg]{5 . o; cltl/Qm ?= %,)),)))÷–
jf ;f]eGbf a9L /sd cfj]bg lbg] cfj]bsx?n] cfkm"n] cfj]bg lbFbf hDdf u/]sf] /sd ;DklQ z'4Ls/0f P]gsf]
alv{nfk x'g] u/L cfh{g gu/]sf] egL pb\3f]if0f ug'{kg]{5 .
@)= j}b]lzs /f]huf/Ldf /x]sf g]kfnLx?sf nflu o; ljj/0fkq dfkm{t lgisfzg ul/g] z]o/sf nflu Go"gtd !) lsQf /
clwstd !) c+sn] efu hfg]u/L *,))) -!) k|ltztn] x'g cfpg]_ lsQf ;Ddsf nflu cfj]bg lbg ;Sg]5g\ .

@= ;j{;fwf/0fn] o; ljj/0fkq dfkm{t lgisfzgul/g] ;fwf/0f z]o/ lgDg adf]lhd cfa]bg lbg ;Sg]5g\.
lgisfzgsf] s]lGb|s[t ljB'lto ;]jf ;DaGwL sfo{ ;~rfng lgb]{lzsf, @)&$ adf]lhd ;fj{hlgs lgisfzgdf
Centralized Application for ASBA Based Issuance(C-ASBA) k|0ffnL dfkm{t\ cfa]bg ;+sng ug{ cfaå cf:jf
(ASBA) ;]jfdf ;xefuL a}s+ tyf ljQLo ;+:yf tyf tLgsf zfvf sfof{nox?af6 cfj]bg lbg ;Sg]5g\ .
v_ (C-ASBA) ;]jfdf ;xefuL a}+s tyf ljQLo ;+:yfx?n] pk/f]Qm adf]lhd a'emLlnPsf] kmf/d tf]lsPsf] ;dojlw leq
(C-ASBA) k|0ffnLdf k|ljli6 ug'{kg]{5 .
u_ ;Ël7t ;+:yfn] k|f/lDes ;fj{hlgs lgisfzg dfkm{t hf/L u/]sf] z]o/ vl/bsf nflu k|fs[lts JolQmn]] dfq b/vf:t
lbg ;Sg]5 . tf]lsPsf] cjlwleq laqmL gePdf ;+ul7t ;+:yf jf k|rlnt sfg'g ad]lhd :yfkgf ePsf ;+:yfn]
To:tf] z]o/ vl/b ug{ ;Sg]5 .

30
u=!! ;DalGwt kIf aLrsf] sf/f]af/ ;DaGwL ljj/0f M
lgisfzgstf{ ;+ul7t ;+:yf / lgDg lnlvt kIf aLr ljut @ jif{sf] cjlwdf s'g} k|sf/sf] j:t'ut
sf/f]jf/ ePsf] jf s'g} sf/f]jf/ ug{ k|:tfj ul/Psf] eP sf/f]jf/df ;+nUg JolQmx?sf] gfd, ltgLx?sf]
;+ul7t ;+:yf;Fusf] ;DaGw, sf/f]af/sf] k|s[lt / /sd M
;DalGwt ;+:yfsf] gfd ;DaGw sfo{ k|s[lt @)&*-&(
cgs xfO8«f]kfj/ sDkgL ln= d"n sDkgL ltg'{ kg]{ bfloTj @,&(&,))) Cr.
cgs sG:6«S;g sDkgL ln= ;fx" ltg'{ kg]{ bfloTj #$,!#(,@@) Cr.

dfly pNn]lvt ;DalGwt sDkgL dWo] cgs xfO8«f]kfj/ sDkgL ln= d"n sDkgL /x]sf] / cgs sG:6«S;g
sDkgL k|f=ln= l;:6/ sDkgL /x]sf] / ;f]sf] ljj/0f sDkgLsf] n]vfkl/If0fsf] ;DalGwt kfl6{ sf/f]jf/
cGtu{t pNn]v ul/Psf] 5 .
-s_ ;+ul7t ;+:yfsf] sfo{sf/L, clws[t jf ;~rfnssf] ?kdf /x]sf] JolQm M ;f] gePsf] .
-v_ cfwf/e"t z]o/wgL M;f] gePsf]] .
-u_ v08 -s_ / -v_ df pNn]lvt s'g} JolQmsf] Psf3/ kl/jf/ ;b:o M;f] gePsf] .
-3_ ;+ul7t ;+:yfsf] sfo{sf/L clws[t jf ;~rfns jf cfwf/e"t z]o/wgLn] #) k|ltzt jf ;f] eGbf a9L
dtflwsf/ x'g] u/L z]o/ :jfldTj u|x0f u/]sf] sDkgL jf ;+ul7t ;+:yf M ;f] gePsf] .
-ª_ ;+ul7t ;+:yf jf To;sf] ;xfos sDkgLn] xfnsf] ;~rfns jf lghsf] Psf3/sf] kl/jf/sf] ;b:osf nflu
s'g} sf/f]jf/ jf ;Demf}tf u/]sf] 5 eg] ;f] jf ljj/0fkq k|sfzg ug'{ eGbf # jif{ cufl8sf] cjlwdf
;+:yfsf] ;~rfns jf ;~rfnssf] Psf3/ kl/jf/sf] ;b:osf nflu s'g} sf/f]af/ jf ;Demf}tf u/]sf] eP
;f] s'/f M;f] gePsf] .
-r_ s'g} ;~rfns jf ;~rfnssf] Psf3/ kl/jf/sf] ;b:onfO{ s'g} C0f lbPsf] jf lgh;Fu lnPsf] eP pQm C0f
e'QmfgL cjlw cflb s'/f ljj/0fkqdf v'nfpg' kg]{ M;f] gePsf] .
u=!@= ljb]zL nufgL / Joj:yfkg ;DaGwL ljj/0f M
ljb]zL nufgL / Joj:yfkgdf ;+ul7t ;+:yf ;~rfng x'g] eP ;f] sf] ljj/0fsf ;fy} ;DalGwt ;Demf}tfsf]
d'Vo tyf tflTjs a'Fbfx? M;f] gePsf] .
u=!#= ;"rLs[t ;+ul7t ;+:yfn] ;fj{hlgs lgisfzg ug]{ ePdf ;f] sf] ljj/0f M
-s_ ;+ul7t ;+:yfsf] ljut # cfly{s jif{sf] k|To]s q}dfl;s cjlwsf] pRrtd, Go"gtd, clGtd ahf/ d"Nosf ;fy}
sf/f]af/ ePsf] z]o/ ;+Vof M;f] gePsf] .
-v_ af]8{df ljj/0fkq btf{sf] nflu k|:t't ug'{ eGbf ^ dlxgf cufl8sf] cjlwsf] dfl;s ?kdf pRr, Go"g /
clGtd d"Nosf ;fy} k|To]s dlxgfdf sf/f]jf/ ePsf] s"n lbg / s"n sf/f]af/ ePsf] lwtf]kq ;+Vof M;f]
gePsf] .
u=!$= kl5Nnf] ;fj{hlgs lgisfzgsf] cg'dfg tyf pknAwL ;DaGwL ljj/0f M
;+ul7t ;+:yfn] o; eGbf cuf8L lwtf]kq lgisfzg ubf{ tof/ u/]sf] ljj/0fkq jf cGo ljj/0fx?df pNn]lvt
ul/Psf nIo tyf sfo{qmdx? tyf v'b d'gfkmf xfl;n ug{ ;s]÷g;s]sf], g;s]sf] cj:yfdf nIo tyf
sfo{qmdsf ;fy} ljj/0fkq jf cGo ljj/0fx?df k|If]lkt v'b d'gfkmf eGbf aL; k|ltzt jf ;f] eGbf a9Ln] Go'g
x'g uPsf] eP o;/L km/s kgf{sf] sf/0f M ;f] gePsf] .
u=!%= k/fdz{bftf÷ljz]if1 ;DaGwL ljj/0f M
-s_ n]vfk/LIfs, k|d'v a}+s, lgisfzg sfo{;Fu ;+nUg a}+s, k|If]lkt ljQLo ljj/0f 7Ls 5 egL k|dfl0ft ug]{
lj1 cflbsf] gfd tyf 7]ufgf M
 n]vfk/LIfs M sDkgLsf] cf=j=@)&*÷&( sf] cfDbfgL vr{ lx;fa tyf jf;nftsf] n]vfk/Lif0f
hL= k|sfz P08 P;f]l;P6\;n] ug'{ePsf] 5 . -7]ufgf – z+vd'n #!, sf7df8f}+_
 lgisfzg a}+s (Banker to the Issue)
:yflgo afl;Gbfx?sf] xsdfM
lgisfzg a}+s (Banker to the issue)lgDg adf]lhd tf]lsPsf] 5 .
o; lgisfzgsf] nflu ;g\/fO{h a}+s lnld6]8, sdnkf]v/L nfO{ lgisfzg a}+ssf] ?kdf tf]lsPsf]
5.
ljlQo k|If]k0fsf] ljj/0f tof/ kfg]{ lj1 M sDkgL cfkm}n]tof/ u/L lj14f/f k|dfl0ft u/fO{Psf].

31
 
ljQLo k|If]k0fsf] cg'dfg tyf cfwf/x? k'g/fjnf]sg u/L ljj/0f 7Ls 5 egL k|dfl0ft ug]{ lj1 M
hL= k|sfz P08 P;f]l;P6\;n] ug'{ePsf] xf] .
-v_ dfyL v08 -s_ df pNn]lvt ;+:yf jf JolQm;Fu ePsf] ;xdltsf d"Vo d"Vo a"Fbf tyf zt{x? M ;f]
gePsf] .
u=!^= kl/of]hgf ;DkGg ug{sf] nflu ;fj{hlgs lgisfzg afx]s cGo ljQLo >f]tx? k|of]u ul/Psf] 5÷5}g,
tT;DaGwL ljj/0f M
ljQLo >f]t s'n /sd -?=_
a+}s C0f -6d{ nf]g_ 980,000,000
k|df]6/ nufgL 449,400,000

d'Vo k|df]6/sf] ljj/0f z]o/ :jfldTj -?=!)) k|lt z]o/_

! >L cgs xfO8«f]kfj/ sDkgL k|f=ln @,))^,!(*
@ >LdtL ;"o{dfof dxh{g **%,)))
# >L gljg dxh{g #%$,*$)
$ >L slag dxh{g &#),$@@
u=!&= d'2f tyf ljjfb ;DaGwL ljj/0f M
-s_ ;+ul7t ;+:yfsf] t/ntf, df}Hbft, sfo{ ;~rfngdf tflTjs c;/ kg]{ vfnsf] s'g} d'2fdfldnf jf
ljjfb eP ;f] ;DaGwL ljj/0f tyf pk/f]Qm d'2f jf ljjfbsf] sf/0faf6 kg{ ;Sg] k|efj ;DaGwdf
Joj:yfkgsf] wf/0ff M ;f] gePsf] .
-v_ ;+ul7t ;+:yfnfO{ c;/ kg]{ u/L ;+:yfsf] ;+:yfks÷;~rfnsn] jf nfO{ bfo/ ul/Psf] d'2f ;DaGwL
ljj/0f M ;f] gePsf] .
-u_ ljut kfF+r jif{df ;+ul7t ;+:yfsf] s'g} ;+:yfks÷;~rfns sfnf];"rLdf k/]sf] jf s'g} g}lts jf
cfly{s sf/0faf6 s'g} lgodg lgsfo jf cbfntn] ;hfo u/fPsf] eP, To:tf] ;~rfnssf] gfd /
;hfo ug]{ lgodg lgsfo jf cbfntsf] gfd pNn]v ug'{ kg]{ M ;f] gePsf] .
-3_ ;+ul7t ;+:yf a}+s jf ljQLo ;+:yfdf C0f glt/L l8kmN6 ePsf], lgod cg';f/sf] z'Ns glt/]sf],
lwtf]kqjfnfx?sf] s'g} /sd e'QmfgL gul/Psf] eP tT;DaGwL ljj/0fx? M ;f] gePsf] .
u=!*= u'gf;f] ;'Gg] / ;dfwfg ug]{ k|s[of M
o; ;fj{hlgs lgisfzg ;DaGwdf s'g} nufgLstf{x?sf] u'gf;f] ;'Gg / ;f] sf] ;dfwfgsf] nflu lwtf]kq
lgisfzg tyf ljqmL k|jGwssf] sfof{nosf] kmf]g g+= )!—$%@*^^) df ;Dks{ u/L >L cr{gf >]i7 k|wfg
;+u ;Dk{s ug{ ;lsg]5 .
u=!(= gub glnO{ s;}nfO{ lwtf]kq lgisfzg ul/Psf] 5 eg] To:tf] JolQm jf ;d"xsf] gfd, vl/b ul/Psf] ;DklQ
jf ;]jf ;DaGwL ljj/0f, lgisfzg ul/Psf] lwtf]kq ;+Vof / b/ ;DaGwL ljj/0f M ;f] gePsf] .
u=@)= C0fkq lgisfzg ;DaGwL ljj/0f M xfn;Dd C0fkq hf/L ul/Psf] 5}g .
u=@!= cu|flwsf/ z]o/ lgisfzg ;DaGwL Joj:yf M xfn;Dd cu|flwsf/ z]o/ hf/L ul/Psf] 5}g .
u=@@= cGo ;fdfGo hfgsf/L M
-s_ ljz]if1sf] s'g} /fo ePdf ;f] sf] ljj/0f M5}g .
-v_ ut tLg cfly{s jif{ leqdf s'g} ;~rfns, n]vfk/LIfs kl/jt{g ePsf] eP, ;f] sf] sf/0f M
K|fltlglwTj ug]{ kbfjwL kl/jt{g ePsf]
l;=g+= Gffd Kfb
;+:yf / kb b]vL ;Dd sf/0f
! >LdtL ;"o{dfof dxh{g dlxnf - @)&*.)$.!% @)*@.)$.!$ gofF lgo'lQm
;~rfns
@ >L slj dxh{g lj1÷:jtGq - @)&*.)$.!% @)*@.)$.!$ gofF lgo'lQm
;~rfns
# >L cf/ >]i7 P08 n]vf - @)&%÷&^ @)&(÷)#÷@) JolQmut sf/0f
P;f]l;o6\; k/LIfs ;fwf/0f ;ef

-u_ sDkgL ;lrjsf] ljj/0f

32
 gfd M >L ;xg dxh{g
7]ufgf M j8f g+= (, lslt{k'/
z}lIfs of]Uotf M lj=lj=P -kmfO{gfG;_
-3_ ;fj{hlgs lgisfzg ug{sf] nflu ;~rfns ;ldltaf6 ePsf] lg0f{o ;DaGwL ljj/0f M
sDkgLsf] ;+rfns ;ldltsf] ldlt @)&&÷!)÷!@ ut]sf] a}7ssf] lg0f{o cg';f/ :yflgo hgtfsf]
nflu !)Ü / ;j{;fwf/0fsf] nflu #$Ü u/L hDdf $$Ü z]o/sf] ;fj{hlgs lgisfzg ug]{ lg0f{o
ul/Psf] 5 .
-ª_ ;+ul7t ;+:yf jf o;sf z]o/wgLnfO{ s'g} ljz]if ;'ljwf lbOPsf] eP, ;f] ;DaGwL ljj/0f M
;+ul7t ;+:yf jf o;sf z]o/wgLnfO{ s'g} ljz]if ;'ljwf lbOPsf] 5}g .

-r_ ;+ul7t ;+:yfsf] kl5Nnf] cfly{s jif{sf] n]vfk/LIf0f ePsf] jf;nft, gfkmf gf]S;fg lx;fj / gub
k|jfxljj/0f k|fKt ug{ jf x]g{ ;Sg] 7fpF / ;do M
sfof{no ;do leq sDkgLsf] /lhi68{ sfof{no, /ljejg, sf7df8f}+ / lwtf]kq lgisfzg tyf ljqmL
k|jGws ;g\/fO{h Soflk6n lnld6]8, sdnkf]v/L, sf7df8f}+df ;Dks{ /fvL sDkgLsf] kl5Nnf] cfly{s
jif{sf] n]vfk/LIf0f ePsf] jf;nft, gfkmf gf]S;fg lx;fj / gub k|jfx ljj/0f k|fKt ug{ jf x]g{
;lsg]5 .
-5_ af]g; z]o/ ;DjGwL Joj:yfM
xfn;Dd cfof]hgf ;DkGg eO{ d'Vo cfocfh{g eOg;s]sf]n] af]gz z]o/ hf/L ul/Psf] 5}g . eljiodf
k|rlnt P]g / g]kfn lwtf]kq af]8{sf] k|rlnt af]gz z]o/ lgisfzg ;DjGwL Joj:yf cg';f/ af]gz
z]o/ hf/L ug{ ;lsg]5 .
-h_ z]o/jfnf, sd{rf/L jf c? s;}sf] nflu z]o/ ;'/lIft ug]{ Joj:yf ul/Psf] ePdf ;f] s'/fM
sDkgLsf] ;fwf/0f z]o/dWo] xfnnfO{ cfof]hgf k|efljt cf]vn9'Ë lhNnfjf;Lx?sf] nflu !)Ü n] x'g
cfpg] *,)@,%)) lsQf, j}b]lzs /f]huf/Ldf /x]sf] g]kfnLx?nfO{ !)Ü n] x'g cfpg] @,&@,*%) lsQf,
sDkgLdf sfo{/t sd{rf/Lx?sf nflu @Ü n] x'g cfpg] %$,%&) lsQf / ;fd'lxs nufgL sf]if
of]hgfsf] nflu %Ü n] x'g cfpg] !,#^,$@% lsQf z]o/ ;'/lIft ul/Psf] 5 .
-em_ sDkgLn] sDkgL P]gn] u/]sf] Joj:yfx?, cfkm\gf] sf/f]af/;+u ;DalGwt P]g, lgod tyf lgodg
Joj:yf k"0f{ kfngf u/]sf] ;DjGwL pb3f]if0fM
sDkgLn] sDkgL P]g, @)^# -;+zf]wg ;lxt_n] u/]s]f Joj:yfx?, cfkm'n] ug]{ Joj;fo;+u ;DjlGwt P]g,
lgod tyf lgodg Joj:yf tyf lgodg lgsfox?n] lbPs]f lgb]{zgx?sf] k"0f{ kfngf u/]sf] 5 / ;f]xL
lgb]{zgx?sf] bfo/fleq /lx sfo{ ul//x]sf] tyf o; ljj/0fkqdf pNn]v ul/Ps]f ljj/0fx? ;d]t ;f]xL
cg'?k tof/ ul/Psf] xf] eGg] sDkgLsf] pb\3f]if0f /x]sf] 5 . ;fy} sDkgLn] sDkgL /lhi6«f/sf]
sfof{nodf cfly{s jif{ @)&*÷&( ;Ddsf] k]z ug'{kg]{ ljj/0fx? k]z u/]sfn] sDkgL /lhi6«f/sf]
sfof{noaf6 ldlt @)&(÷)&÷#) df sDkgL cBfjlws ;DaGwL kq k|fKt u/]sf] 5 .
-`_ lwtf]kq ljqmL ljt/0f ;DjGwL Joj:yfM
o; ljj/0fkq dfkm{t lgisflzt cfof]hgf k|efljt If]qsf afl;Gbfx/sf] nflu z]o/ laqmL ljt/0fsf
nflu cfof]hgf k|efljt If]qdf laqmL k|aGwsn] ;+sng s]Gb|sf] cfjZos Jofj:yf u/L cfj]bg kmf/fd,
ljj/0fkq ljt/0f tyf cfj]bg kmf/fd ;lxt b/vf:t /sd hDdf ug]{ Joj:yf ug]{5 . ;j{;fwf/0fsf]
xsdf g]kfn lqtf]kq af]8{af6 :js[t ;Dk"0f{ cf:jf ;b:o a}+s tyf ljQLo ;+:yfx? dfkm{t cfj]bg
lbg ;Sg] Joj:yf /x]sf] 5 .
-6_ qm]l86 /]l6Ë ;DaGwL Joj:yf M
o; ljj/0fkq cg';f/ lgisfzg ul/g] ;fwf/0f z]o/sf] nflu lwtf]kq btf{ tyf lgisfzg lgodfjnL,
@)&# -t];|f] ;+zf]wg ;lxt_ df ePsf] Joj:yf adf]lhd ljQLo ;+:yfsf] /]l6Ë u/fpg' kg]{ ePsf]n]
qm]l86 /]l6Ë lgodfjnL, @)^* sf] lgod # adf]lhd g]kfn lwtf]kq af]8{af6 cg'dlt k|fKt qm]l86 /]l6Ë
;+:yf Os|f g]kfn lnld6]8, ;g/fOh ljhkfs{, 5}7f}+ tNnf, l8NnLjhf/, sf7df8f}+jf6 qm]l86 /]l6Ë u/fO{
“ICRANP-IR BB” -[ICRA NP Issuer Rating Double B]Æ k|df0fkq k|fKt u/]sf] 5 . “ICRA
NEPAL Issuer Rating Double B” n] sDkgLsf] ljQLo bfloTjsf] ;dod} ;]jf ug]{ ;DaGwdf k"j{
lgwf{l/tsf] dWood hf]lvd /x]]sf] (Moderate risk of default regarding timely servicing of financial
obligatins) eGg] a'lemG5 . ;f] u|]l8Ë sf] a}Btf cjlw Ps jif{ /xg] 5 .
O:o'/ /]l6Ë k|bfg u/]sf] ldlt M @)&(÷)!÷!% -tbg';f/ clk|n @*, @)@@_

33
 axfn /xg] cjlwM@)*)÷)!÷!%- tbg';f/ clk|n @*, @)@#_ _
-7_ ljj/0fkq tof/ ug]{Joj;foLs ;+:yfsf] gfd / 7]ufgf ;DaGwL ljj/0f M
o; ljj/0fkq tof/ kfg]{ Joj;flos ;+:yfdf lwtf]kq lgisfzg tyf laqmL k|jGws ;g\/fO{h Soflk6n
lnld6]8, sdnkf]v/L, sf7df8f}+ /x]sf] 5 .
-8_ ;sf/fTds kIfx? M hnljB'tsf] If]qdf cWoog cg';Gwfg tyf ljsf; sfo{df of]hgfa4 9+un]
;dlk{t eP/ sfd ul//x]sf]n] o; sDkgLsf] eljio pHHjn /x]sf] .
-9_ z]o/ /lhi6f/ ;DaGwL Joj:yf M g]kfn :6s PS;r]Gh lnld6]8df ;"rls/0f u/] kZrft\ z]o/sf]
bflvn vf/]h, b:tvt ?h' cflb ;DaGwL sfo{ o; sDkgLsf] sfof{noaf6 jf sDkgLsf] ;~rfns
;ldltn] tf]s] adf]lhd z]o/ /lhi6«f/sf] sfof{noaf6 x'g] u/L Joj:yf ul/g]5 .

-0f_ ;fwf/0f z]o/sf] ljqmL v'Nnf cjwL M o; ljj/0f–kqåf/f lgisfzg ul/Psf] cfof]hgf k|efljt :yfgLo
afl;Gbfx?sf] nflu hf/L ul/g] z]o/sf] nflu cfj]bg lbg] cjlws laqmL v'Nnf ePsf] ldltaf6 sDtLdf !%
lbg / a9Ldf #) lbg v'Nnf /xg]]5 . cfof]hgf k|efljt If]qsf :yflgo afl;Gbfx?sf] nflu lgisfzg u/L
laqmL aGb eO{ z]o/ af+8kmf+8 eP kZrft ;j{;fwf/0fsf] nflu lgisfzg v'Nnf ul/g]5 . ;j{;fwf/0fsf] nflu
cfj]bg lbg] cjlw sDtLdf $ sfo{ lbg / a9Ldf !% lbgv'Nnf /xg]]5 .
-t_ lwtf]kq btf{ lgisfzg lgodfjnL, @)&# sf] lgod (-#_ df ePsf] Joj:yfx?sf] ljj/0f M
!= cfkm\gf] p2]Zo cg';f/ sf/f]af/ ;+rfng ug{sf nflu cfjZos sfo{x? cuf8L a9fO{ Ps jif{sf]
cjlw k"/f u/]sf] M Dff]nË xfO{8«f]kfj/ sDkgL k|f=ln=ldlt @)^&÷!)÷#! Uft] :yfkgf u/L tt\
kZrft ldlt @)&^÷)*÷@^ af6 df]nË xfO{8«f]kfj/ sDkgL ln=sf] ?kdf :yfkgf eO{ sfo{ ub}{
cfPsf] 5 .
@= k|rlnt sfg"g adf]lhd n]vfkl/If0f tyf ;fwf/0f ;ef ;DkGg u/]sf] M ldlt @)&*÷)&÷!@ ut]
a;]sf] !@ cf} jflif{s ;fwf/0f ;efaf6 cfly{s jif{ @)&&÷)&* sf] n]vfkl/If0f tyf ;fwf/0f;ef
;DkGg ePsf] 5 . cfly{s jif{ @)&*÷)&( sf] n]vfkl/If0f hL k|sfz P08 P;f]l;P6\; ;L=P=
n]vfkfnåf/fn] ldlt @)&(÷)&÷)! df ug'{ePsf] xf] .
#= cfkm\gf] p2]Zo cg';f/ sf/f]af/ ;+rfng ug{sf nflu k|rlnt sfg"g adf]lhd s'g} lgsfoaf6
Ohfht, cg'dlt jf :jLs[t lng'kg]{ ePdf To:tf] Ohfht cg'dlt jf :jLs[tL lnO;s]sf] M
sf/f]af/ ;+rfng ug{ g]kfn ljB't k|flws/0faf6 ldlt @)&%÷)!÷)&, phf{ dGqfnoaf6 ldlt
@)&#÷)&÷@%, phf{ dGqfno ljB't ljsf; ljefuaf6 ldlt @)&!÷)^÷!@ df :jLs[lt
lnO;s]sf] 5 .
$= ;+ul7t ;+:yfsf] nflu cfjZos kg]{ hUuf vl/b jf cGo k|sf/n] Joj:yf u/L sf/vfgf ejg,
sfof{no ejg, uf]bfd3/ tyf cGo cfjZos ;'ljwfx?sf] lgdf{0fsfo{ z'? ul/;s]sf] M;f] nfu'
gx'g]
%= pTkfbgsf] k|ljlw 5gf}6 u/L pBf]usf] nflu cfjZos kg]{ oflGqs pks/0f tyf To;sf kf6k'hf{ cflb
vl/b ug{'kg]{ ePdfM ;f] nfu' gx'g] .
^= lwtf]kqsf] ;fj{hlgs lgisfzg ;DaGwdf lgisfzg tyf laqmL k|aGws;+u ;Demf}tf eO{;s]sf]M
sDkgLsf] k|aGwkqdf pNn]v eP adf]lhd ;j{;fwf/0fdf ;fwf/0f z]o/ lgisfzg ug{sf nflu
lgisfzg tyf laqmL k|aGws >L ;g\/fO{h Soflk6n lnld6]8;+u ;Demf}tf eO{;s]sf] .
&= cfof]hgf lgdf{0f cjlwe/ sDkgLsf] C0f / k"FhLsf] cg'kft lwtf]kq lgisfzg lgb]{lzsfdf tf]lsP
adf]lhd /fVg ;xdt ePsf] M o; sDkgLsf] cfof]hgf lgdf{0f cjlwe/ sDkgLsf] C0f / k"+hLsf]
cg'kft lwtf]kq lgisfzg lgb]{lzsfdf tf]lsP adf]lhd sfod u/L ldlt @)&$÷!@÷!@ b]lv
ljB't pTkfbg ub}{ cfPsf] 5 .
*= ;+:yfksx?n] cfkm'n] lng sa'n u/]sf] $$,($,))) lsQf z]o/sf] k|lt z]o/ ?=!))÷— sf b/n]
?=$$,($,)),)))÷— ztk|ltzt /sd r'Qmf e};s]sf] 5 .
(= kl/of]hgf lgdf{0fsf nflu kmfOgflG;Pn Snf]h/ (Financial Closure) e};s]sf]M
o; sDkgLsf] nflu PgPdaL a}+s -nL8 a}+s_ dfkm{t kmfOgflG;Pn Snf]h/ eO{ cfof]hgf ;DkGg
e};s]sf] 5 .
!)= hnljB't pTkfbg ;+:yf ePdf, ljB't vl/b ;Demf}tf ul/;s]sf] M
k|flws/0fn] Aofkfl/s pTkfbg z'? x'g] ldltb]lv x/]s dlxgf sDkgLn] cfof]hgfaf6 pTkfbg u/L
pknAw u/fPsf] sG6«ofS6 OghL{sf] kl/0ffd ;Ddsf] phf{ v/Lb jfkt jiff{ ofddf k|lt ls=jf=

34
 306f ?= $=*) / ;'Vvf ofddf k|lt ls=jf= 306f ?=*=$) ljB't v/Lb b/n] x'g cfpg] /sd
sDkgL jf cu'jf a}s jf ljQLo ;+:yfnfO{ a'emfpg] 5 .

u=@#= o; ljj/0fkqdf k|sflzt tYo tyf ljj/0fx? 7Ls b'?:t 5g\, ;f] df s'g} km/s k/]df xfdL ;~rfnsx? k"0f{
?kdf lhDd]jf/ x'g]5f}+ egL ;xL 5fk ug]{ ;~rfnsx?sf] gfd tyf b:tvt M

s|=;+= Gffd kb b:tvt

! >L >L/fd dxh{g cWoIf

@ >L cd[t s'df/ dxh{g k|aGw lgb]{zs

# >L glag dxh{g lgb]{zs

$ >L slag dxh{g lgb]{zs

% >LdtL ;"h{dfof dxh{g dlxnf

;~rfns
^ >L slj dxh{g lj1÷:jtGq
;~rfns

35
u=@$= lgisfzg tyf laqmL k|aGwsn] k|:t't u/]sf] k|lta4tf kq -8\o' 8]lnh]G;\ ;l6{lkms]6_ sf] k|lt M

36
u=@%= ljj/0fkq, ljQLo ljj/0f tyf cGo s'g} s'/fdf lj1n] /fo lbPsf] eP ;f] ;DaGwL kq M

37
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