National
Kantipur Media Group halts fundraising drive after government decision to channel all funds through the state
Following the government's decision, all donations are being returned to their contributors, said the media group management.Post Report
Kantipur Media Group on Tuesday said it has been forced to halt its Kantipur Covid-19 Prevention Fund, a campaign to raise funds to assist in the fight against the coronavirus pandemic. Kantipur Media Group’s decision to this effect follows a government decision to channel all funds through the state's own mechanism.
A meeting of the high-level coordination committee for the prevention and control of Covid-19, led by Deputy Prime Minister Ishwar Pokhrel, on Tuesday decided to prohibit any private entity from establishing a similar fund, saying “the government itself has set up such a fund”.
The government has set up a Rs 500 million fund to fight the Covid-19 pandemic.
Kantipur Media Group last week set up the Kantipur Cover-19 Prevention Fund with a seed amount of Rs1.5 million, with five commercial banks as partners, each matching KMG's contribution. Kumari Bank, Siddhartha Bank, Nepal Investment Bank, Nabil Bank and Global IME Bank were the partner institutions in KMG’s initiative and had contributed Rs1.5 each.
KMG had started its initiative against the pandemic after consultation with Pokhrel and with his consent. Pokhrel heads the government’s high-level coordination committee.
“We have in the past also come to assist whenever the country was in crisis. We are disappointed that we are unable to help this time around when the state is in difficulty,” said the KMG management. “Since the government has put a halt to the initiative, we will return all the money to the contributors—institutions and individuals. We hope all those generous institutions and individuals will contribute to the government fund to help the state in a time of crisis.”
After the earthquake in 2015, Kantipur Media Group had raised Rs 44.3 million and handed it over to then prime minister Sushil Koirala.
Kantipur Media Group in the past has also raised funds and helped the state whenever there were natural disasters, like floods and landslides.