Addressing a trade fair in Pokhara, the minister said, “The revenue collection growth which stood at 12 percent last year has gone up to 17 percent, while the foreign currency reserve is at a comfortable level due to 30 percent rise in remittance,” [break]
With these improvements, the investment climate in the country is also getting better, he said. “But the power shortage faced by the country has been a downer.”
According to him, many foreign investors, who show keen interest in investing in Nepal, turn silent once they hear about loadshedding hours in the country.
To address this problem the Energy Ministry is soon installing a thermal plant which can generate 200 MW of electricity, he said.
“The government has already extended US$4 million (Rs 320 million) to the ministry for this purpose,” he told the gathering, expressing hope “the plant will provide a stopgap solution”. Besides, the government is also planning to import electricity from India, he added.
He also informed the establishment of the Investment Board, which can approve investments of up to Rs 10 billion, will cut red tape and put proposals of the investors on the fast track.
“This will be a big plus for investors as they will not have to visit different departments to get the proposals approved,” he said.
He also said the Chinese government has approved a loan of $145 million for the construction of an international airport in Pokhara. “An agreement to this effect will be signed during Chinese PM´s visit to Nepal,” he informed.
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