Kathmandu. KATHMANDU: The government has started insuring vehicles for the implementation of its decision to insure government-owned vehicles and property.
Issuing a press release on Friday, the Ministry of Finance said that 20 vehicles owned by the Ministry have been fully insured as part of the decision taken by the Council of Ministers on September 21.
The Ministry has provided intensive risk insurance for vehicles through Nepal Insurance Company.
The ministry believes that the cost of the government fund will be reduced as the vehicle can be purchased from the insurance compensation in case of damage to the vehicle due to fire or accident.
The demonstrations on September 7 and 24 turned violent when the security forces cracked down. The demonstrators had vandalized and torched vehicles not only of various ministries and departments but also of many government offices, police offices and courts across the country. Since most of them are uninsured, it is a big challenge for the government to raise funds from the government fund to buy new vehicles.
