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Prime Minister KP Sharma Oli has said that the 'take and pay' provision in the budget should be removed as it will do bad things.
While answering the questions raised by the MPs on the Appropriation Bill, the Prime Minister gave this answer about 'Take and Pay' in the Tuesday meeting of the House of Representatives.
Why did the MP bring and remove 'Take and Pay'? He asked that . If the parliamentarian is going to remove the provisions of the budget in the same way, he proposed that the Prime Minister should move forward to revise the budget. In response, Prime Minister Oli said, 'Tech and Pay was brought to do good . It was removed as it happened.'
Prime Minister Oli and ruling Congress chairman Sher Bahadur Deuba had agreed on Monday to remove the provisions of the 'take and pay' (take and pay) electricity purchase and sale agreement (PPA) in the budget.
In case of PPA in 'take and pay', the authority buys the quantity it needs and pays only for it. In the case of PPA in 'Take or Pay', the authority has to take electricity according to the agreement made with the promoter, otherwise it has to pay the price to the promoter.
If electricity cannot be provided according to the agreement, the promoter has to pay a fine to the authority. The authority has been doing PPA on 'Take or Pay'. In the case that the hydropower project can be constructed but the new transmission line is not completed or the capacity of the transmission line is reduced, the authority has set a time limit for the PPAs made on the basis of 'Take or Pay' and takes and pays for electricity on the basis of 'Take and Pay' . Deuba pressured Prime Minister Oli to remove the provision of 'take and pay'.
