Nepal, April 9 -- The state-owned dairy company will finally settle just over one-third of the dues owed to farmers by this week, a month and a half after the prime minister acknowledged the issue.

"We are clearing Rs370 million dues by this week," the newly-appointed general manager of the Dairy Development Corporation Surya Prasad Paudel, told the Post.

The corporation owes Rs1 billion to farmers.

In February, the corporation had sought bailout funds amounting to Rs300 million to pay the farmers, who have been protesting over the outstanding dues.

Subsequently, in March, the government decided to provide the credit.

"We will receive Rs300 million in our [bank] account by Wednesday," said Paudel. "We will add around Rs70 million and...