Kathmandu, December 28: The State would get around Rs 4.32 billion as direct and indirect benefits from the agreement to extend the term of lease agreement of Gokarna Forest Resort, according to the Office of the Nepal Trust.
The lease term of the agreement was extended for an additional 25 years from the cabinet decision held on December 9 based on the legal provision that new agreement can be signed before the termination of the old agreement. Organizing a press conference here today, the Office said that the agreement was renewed after LM Subhir Brothers Nepal Pvt Ltd started constructing new physical infrastructures to operate other services in the Gokarna Forest Resort premises.
As per the Nepal Trust Act-2064 (First amendment-2075), Article 5 (3 Kha), lease agreement can be extended if additional financial benefit is guaranteed to the Trust after the side utilizing the property wanted to operate existing structures by carrying out repair and maintenance increasing its capital.
On the occasion, Executive Secretary of the Trust Gajendra Thakur said that the lease agreement would come into implementation as the government decided to extend the lease agreement term for the next 25 years where the rent price would be increased every five years by determining real market value. Earlier, on Thursday (Dec 26), Trust Chairperson and Deputy Prime Minister Ishwor Pokharel made it clear about the issues raised regarding expanding lease agreement term of Gokarna Forest Resort at the National Assembly meeting.