Nepal, April 24 -- Kathmandu Metropolitan City (KMC) Mayor Balen Shah has claimed that there was policy-level corruption involved in the approval process of the Kathmandu Tower project.

On Thursday, he took to social media to disclose that the case could result in financial losses of over Rs 1 billion for the metropolis, while benefiting the contractor by billions.

According to Mayor Shah, back in 2073 BS, the then leadership of the metropolitan city approved a 12-storey structure under an agreement that provided minimal financial benefit to the City.

According to the agreement, the KMC was set to receive only Rs 9.833 million annually for the first four years and Rs 390 million by the 30th year.

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