KATHMANDU, Sept 16: Employees Provident Fund has introduced a new e-service that allows its clients to get account and credit details by simply making a call.
The service, dubbed tele-fund, was introduced on Sunday to mark the 51st anniversary of the state-owned retirement fund.
The service, which is currently available on Nepal Telecom´s GSM platform, can be availed by dialing 1642. “Other information, such as identity card number and four-digit PIN, also has to be inserted to get account and credit details.
The Fund is currently managing provident funds of 466,000 employees working for the government and in the private sector. Till the end of last fiscal year, the company had Rs 121.44 billion in provident fund and Rs 3.14 billion in its reserve fund.
The Fund has invested Rs 118.89 billion of this amount, but only 9.22 percent went to project financing. The biggest chunk of the amount - 56.08 percent - was extended as loans to its clients.
“Since the Fund´s investments in projects have been lagging for the last two decades, the government should introduce policies that could encourage the company to be one of the contributor´s to the development of the country,” Shankar Prasad Aryal, a president of one of the trade unions of the Fund, said, addressing a program organized to mark 51st anniversary of the public enterprise.