Hydropower's IPO stalled for 18 months
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Ganesh Karki, president of the Independent Power Producers Association, Nepal (IPPAN), said hydropower producers' hands were tied.
In an interactive program on 'Hydropower Project: Investment, Share Management and Challenges' organized by the Nepal Economic Journalists Association, he said that the sector is in a state of confusion with an investment of 15 billion rupees.
Karki said that due to the parliamentary committee and the securities board, the shares to be given to the general public have been stopped. "Government has made a legal provision that 10 percent shares should be given to the local level," President Karki said. Producers cannot issue shares until the Securities Board approves the IPO.
Stating that the IPO issuance has been stopped by the instructions of the Audit Committee, he said that the committee should now correct the decision. "There is a difference of opinion between the Accounts Committee and the Finance Committee of the Federal Parliament," he said. It is estimated that it will cost 62 billion rupees. Chairman Karki said that Nepali energy producers are capable of building 100-200 MW projects by increasing their capacity starting from 1 MW. He said that foreign investors should be brought only for big projects.
