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The government will create an environment to attract foreign investment in hydropower: Finance Minister Paudel
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Highlights
- When Nepali Bank only invests loans in large projects of foreign investment, it has become a situation where the countrymen cannot get loans through foreign investment: President Karki
Deputy Prime Minister and Minister of Finance Bishnu Paudel has said that the government will create an environment to attract foreign investment in Nepal's energy sector. Speaking at the 'Unlocking Investment' program held in Kathmandu on Wednesday under the joint initiative of Independent Energy Producers Association, Nepal (IPPAN) and Sevaa, Minister Paudel said that water resources should be used to the maximum for Nepal's prosperity. He said that emphasis should be placed on internal consumption of energy rather than on energy production and export.
Poudel also said that the government will take a policy to encourage large multinational companies to set up industries in Nepal so that the maximum production of Nepal is consumed in Nepal.
Minister Paudel said that energy entrepreneurs who have invested time and youth in energy production should not get tired of the fact that there are problems. He said that such progress in Nepal's energy sector should not be considered as progress, and he emphasized that Nepal should be brought to a place where it does not need to import electricity even in winter.
Nepali banks have invested loans in foreign-invested large hydropower projects, so domestic hydropower projects have not received investment, said Ganesh Karki, president of IPPAN. 'Banks have a small limit for investing in hydropower,' said Karki, 'showing the loan investment made in foreign-invested projects, domestic hydropower They say that the limit to invest in the project is over.'
Karki said that it is necessary to keep the investments made in foreign investment projects outside the limits or arrange that Nepali Bank cannot invest in foreign investment projects. In the
program, the electricity bill tried to weaken the Nepalese private sector, more than 30 under-construction hydropower projects applied to the Securities Board for IPO issuance, and the project was made dead without permission for a long time, double taxation was demanded from the local level, 28% customs on works that are subject to 1% customs. President Karki drew the attention of Deputy Prime Minister and Finance Minister Bishnu Paudel saying that the VAT exemption of Rs. In the
program, International Finance Corporation (IFC) Nepal director Babakar Fai said that IFC has adopted a policy to encourage the private sector in Nepal. He said that he has been investing in energy projects and is ready to increase investment in Nepal's energy sector in the future. Speaking at the
program, the Executive Director of Dolma Impact Fund, Vidyawaridhi Sigdel, said that it would take more than 40 years to produce 10,000 megawatts through domestic investment as Nepali banks can only invest 40/50 billion rupees in energy annually. He emphasized that sustainable development of energy can be achieved with foreign investment and said that Nepali hydropower entrepreneurs should emphasize environment, society and good governance (ESG) for that. Suman Rayamazhi, executive director of
measures, said that if foreign investment was not brought into the measure, it would not be possible to reach this height today.
प्रकाशित : भाद्र ५, २०८१ १९:३०
