An agreement has been reached to give 10 percent shares to Bhotekoshi Gen-G Public Investment Public Limited. Bhotekoshi Power Company Private Limited, the promoter company of the 45 MW upper Bhotekoshi hydroelectric project of Sindhupalchok, signed an agreement to give 10 percent shares on Sunday. The agreement was signed by Phurpa Sherpa, Chairman of Bhotekoshi Gen-G Public Investment Public Limited and company secretary Vishwamohan Karmacharya and other assistant managers on behalf of the company.

According to the agreement, Bhotekoshi Gen-G Public Investment Public Limited, which invests on behalf of the affected locals, will have to apply to the bank for a loan to purchase shares at the rate of one hundred rupees per share. For the said loan given by the bank, Bhotekoshi Power Company Private Limited will have to pay the above loan and interest from the dividends received within the next one year along with the arrangement of security . It has been agreed that Bhotekoshi Power Company will pay the rest of the loan without paying the interest from the dividend.

In order to take 10 percent shares from Bhotekoshi Power Company, Bhotekoshi Zen-G Public Investment Public Limited will have to make the affected local residents the shareholders of their company . Only after that, it is mentioned in the agreement that the process should be started for 10 percent shares in Bhotekoshi Power Company . The process of applying for 10 percent shares of Bhotekoshi Power Company will be started after Bhotekoshi Gen-G Public Investment Public Limited has made the directly affected local people of the hydropower generation sector the shareholders of the Genji Company for 10 percent shares of the project, the agreement said.

Bhotekoshi Power Company's Chief Executive Officer (CEO) Vikram Ratna said that the amount of 10 percent shares to be given to the affected locals will be equal to 19 to 20 million rupees . "Bhotekoshi Gen-G Public Investment Public Limited should include all the affected people and become its shareholders," he said, "After becoming affected local shareholders, Bhotekoshi Gen-G Public Investment Public Company and our company will enter into a share purchase agreement and after approval by the company registrar, it will go to Genji Company." is . It is mentioned in the agreement that it has been agreed that no one will claim the amount that was given under different headings in the past .
For the first time, an agreement has not been made to give shares to the affected locals.  At the behest of local political parties, Bhotekoshi Company had agreed to give 6 percent shares to project affected people in December 2071 . Now, an agreement has been made to increase the same 6 percent by 4 percent and maintain it at 10 percent. "It was agreed that Bhotekoshi Power Company Private Limited (the second party) will give 10 percent of its shares to the public limited company that invests directly in the hydropower generation area of ​​the project at the local level, which includes the local people directly affected," the contract says, "The second party will give the first party the said 10 percent share   It was agreed to increase the 6 percent from the 6 percent as per the agreement on December 9, 2071 to a total of 10 percent."

Bhotekoshi hydropower project under Bhotekoshi Power Company, which started generating electricity in 2057, demanded that 10 percent shares be given free of charge to the affected residents, and the production was stopped after protesting in the project area since August 25. During the Gen-G movement, the residents of the affected area had written to Bhotekoshi Company that they were Gen-G since August 25. After they entered the power house and staged a dharna, the production machine was shut down citing security reasons . In the letter written in the name of Jen-G, it was mentioned that the Bhotekoshi Project itself will be responsible for the damage caused if their demands are not fulfilled. After receiving the threatening letter, all the employees left the project . The project was now under the protection of the Nepali Army.

It was agreed that Bhotekoshi Company would give 6 percent shares to project affected people in 2071. But due to earthquakes and landslides, the production of the project could not be done regularly until 2076 . After the agreement, the production was stopped for a few years after the earthquake and landslide damaged the structure of the project. At that time, the project suffered a lot of damage. Even after that, the local people say that a new situation has arisen because the leaders who made the agreement and the local people's representatives were not interested in getting the shares. The statement that the leaders of the party have neglected the implementation of the agreement due to financial temptation has been raised in public.

After the local elections, the people's representative did not raise the issue of shares, and now the demand has been brought forward in the name of Jen-G. Covering the opportunity of Gen-G movement, the affected people demanded 10 percent share in exchange for 6 and stopped the production . The share of the American company that invested in the project is now only 5 percent. 95 percent shares belong to Nepali investors. After American investor Panda Energy Company sold its investment, Nepali businessman Siddharth Shamsher Rana's Tara Management bought shares. When the project was built, there was no provision to give shares to the locals. Bhotekoshi is a private company . After 5 years, 50 percent of the project will be transferred to the Electricity Authority and after another 6 years, all of it will be transferred to the Government of Nepal.

After not being able to withstand the pressure of dharna, gherao and slogan rally, Bhotekoshi Power Company reached an agreement to provide shares to the locals as per the demand . In order to solve the problem, on October 2, an agreement was reached between the local administration, the protestors, and the voting company to give the shares as requested. For that, it was mentioned that the board of the company should pass it . During the agreement, there was also a clash between the group of Pasang Nurpu Sherpa, chairman of Bhotekoshi Rural Municipality, and the protestors. It is mentioned that the shares will be given as requested in the agreement, but it will be implemented after the company board accepts the agreement. It was agreed that the project will produce electricity only after accepting the contract. The company representative was also present in the agreement . But the company source claims that the locals were forced to sign the agreement by doing the paperwork.

The project staff were scared because even the police could not handle the situation after the discussion in the Bhotekoshi rural municipality building of Sindhupalchok near the project site. There was also vandalism in the municipality. It is the understanding of the company that they were forced to sign an agreement to give away private property free of charge when there was an unusual situation in the country due to the Gen-G movement.

The company was not ready to accept the demand for 'free shares' rather than just giving shares.
In the previous agreement, it was mentioned in the agreement that the Bhotekoshi company will produce electricity only from the date of authorization/recognition of the agreement. In the last point of the agreement, it is said, "Regarding this agreement regarding the operation/resumption of the power plant, it has been agreed to allow the operation of the plant from the date of authorization/recognition from the second party." Since Bhotekoshi is a private company, it should open a legal way to give it to the locals as private property shares of individuals. The company had been informing for a decade that they were ready to give 6 percent share. The company has been flexible in terms of additional 4 percent and even 10 percent. But company officials say that 'free share' cannot be given. As it was not possible to give 'free share', an agreement was reached to give 10 percent share, said the CEO of Bhotekoshi Power Company.