Social Security Fund collections reach Rs 129.64 billion by end-Asoj, Bizshala reports

Social Security Fund collections reach Rs 129.64 billion by end-Asoj, Bizshala reports

The Social Security Fund had collected Rs 129.64 billion in contributions and returns by the end of Asoj, Bizshala reported on Thursday from the fund's own figures. Asoj ended in mid-October. Bizshala's headline rounds the total to Rs 130 billion.

The fund counts 3,243,701 contributors. Most come through foreign employment: 2,450,958 of them, or 75.56 percent. Formal-sector workers number 790,083, or 24.36 percent. Informal-sector and self-employed members together come to 2,660.

It has paid Rs 22.90 billion in claims over the same period, the report said.

Three months earlier the numbers were smaller. At the end of Asar the fund had Rs 116.72 billion, 3,043,200 contributors and Rs 21.27 billion in claims paid, Kantipur reported in July. Set side by side, the two reports put the fund up by about Rs 12.92 billion and 200,501 contributors in a quarter. Claims paid rose by about Rs 1.63 billion over the same months. Neither report gives a reason.

Why it matters: The fund's own release of these figures was not found, so they rest on Bizshala's report alone. The report does not say how many contributors are paying in now or what the fund earns on its money.

Building department is in the final stage of ending contracts on eight stalled projects, Bizshala reports

The Department of Urban Development and Building Construction is in the final stage of ending contracts on eight stalled projects, Bizshala reported. A security building at the ministers' residence in Pulchowk has made no progress in over six years. No amounts were given.

Finance Ministry consents to a bill merging three labour laws, OnlineKhabar reports

The Finance Ministry has consented to the National Employment Bill, according to its progress report for Saun to Asoj (July to October), OnlineKhabar and Bizshala reported on Thursday. The labour ministry is drafting the bill.

It would amend and merge provisions of the Right to Employment Act 2075, the Foreign Employment Act 2064 and the Labour Act 2074, the reports said.

The bill is at an early stage. The Cabinet approved the principles for drafting it on Asoj 30 (October 16), Kantipur reported that day. The reports give no date for taking it to Parliament.

Roads department runs one lane at Ghoptebhir on the Prithvi Highway and plans an expert study

The Department of Roads is running traffic in one lane at Ghoptebhir because the landslide risk remains, its director general told Kantipur. Consultants will study a long-term fix. No cost or date was given.