"Government alone cannot invest in infrastructure, private sector is needed"

Prime Minister Oli made it clear that he is ready to go hand in hand with the private sector at the fifth 'Nepal Infrastructure Conference' organized in the capital under the joint initiative of the Confederation of Nepal Industry and the Ministry of Physical Infrastructure and Transport. Four sessions were conducted on Thursday in the infrastructure conference which will last till Friday. It is said that 8 sessions will be conducted on Friday.

'Infrastructure development is a catalyst for economic growth. Reflecting on this fact, we have given priority to the development of good roads, infrastructure development, transmitter lines, etc.,' said Prime Minister Oli, 'We expect cooperation and positive support from all levels of government in this effort.' He says that within the year, the level will be upgraded from underdeveloped countries.

Prime Minister Oli said that the government and the private sector should work together in the construction of infrastructure in the country and find alternatives to raise financial resources for many infrastructure projects. We should find a way to use financial instruments to build our infrastructure with the participation of the private sector," he said. He says that infrastructure development will increase the quality of life and access to water and sanitation will reduce health risks. "We need good roads, strong electricity transmission infrastructure, orderly, sustainable cities and aviation infrastructure, this is the government's priority," said Oli.

Parishagh has been organizing an infrastructure conference by adopting the belief that the overall development of the country can be achieved through sustainable infrastructure. Rajesh Agarwal, president of the Confederation, stated that there are many infrastructure challenges in the country and the government alone cannot raise financial resources for infrastructure development. Therefore, he said, it should be promoted through public-private partnership. "We need to think in a creative way for financial instruments to raise investment in infrastructure," he said, "for example, India's hybrid annuity model has played a big role in raising financial resources for road infrastructure development. That method can be adopted while keeping infrastructure projects in the pipeline." Agarwal said that whether infrastructure projects are financially viable should be looked into. He said that if the infrastructure project is not financially viable, the participation of the private sector will decrease. In 2014, 2017, 2019 and 2022, the confederation held the Nepal Infrastructure Conference in partnership with the Government of Nepal (Ministry of Physical Infrastructure and Transport, Ministry of Urban Development, Ministry of Energy), Investment Board, Youth Community for Nepalese Contractors (YCNC).

Four sessions were conducted on Thursday, the first day of this conference. The first session on 'Sustainable Development' focused on climate change, its global impact and steps to be taken in the future including carbon trading. The second session focused on the economic growth brought about by the initiatives in regional infrastructure development and the promotion of integrated services of infrastructure projects. In the third and fourth session, private sector participation, finance and monetary policy and regulatory policy were discussed.

Minister of Physical Infrastructure and Transport Devendra Dahal said that the discussion held at the infrastructure conference laid the foundation for advancing economic growth and social development. He said that the discussion in the conference also addressed the desire for rapid development. He said that although road, railway and electrical infrastructure are given special emphasis, digital infrastructure is also a priority. Finance Minister Bishnu Paudel said that it is not possible to meet the lack of infrastructure development through the government's efforts alone. "Private sector, external investors, international community and development partners also have the same role," he said.

Poudel said that the government attaches importance to quality and sustainable physical infrastructure and the interrelationship between its various aspects. "The government has been giving priority to budget allocation and implementation by focusing on major infrastructure sectors such as transportation, energy, and information technology," he said.