KATHMANDU, Sept 23: The government is preparing to introduce a provision to reserve two percent of Initial Public Offerings (IPOs) issued by hydropower project developer companies for serving security personnel.
Speaking in the House of Representatives, Energy Minister Biraj Bhakta Shrestha said the government is working to establish the necessary legal provision to allocate a portion of primary shares to security personnel.
24 companies preparing to issue IPOs worth Rs 6.5 billion
According to Shrestha, the proposed provision is intended to recognize the contribution of security personnel during search, rescue, relief and rehabilitation operations following the devastating floods in the Bhotekoshi-Trishuli river corridor on August 26.
He said security personnel demonstrated significant dedication while carrying out rescue and relief operations despite difficult terrain, adverse weather conditions and limited resources.
Shrestha said the government is moving ahead with the proposed IPO provision in recognition of their contribution during the disaster-response efforts.
