Environment for all Nepalis to invest in hydro projects enabled, assures PM Oli
March 24, 2019 08:23 PM NPT
KATHMANDU, March 24: Prime Minister KP Sharma Oli has said that an environment where all Nepalis could consider an investment in the hydropower project has been created in the country.
PM Oli said so with special stress, speaking in the meeting of House of Representatives on Sunday on a recently launched program‘ Nepal Ko Pani, Janata Ko Lagani, Harek Nepali Jala Bidyutko Share Ko Dhani(Water of Nepal for People of Nepal, Each Nepali is a shareholder of Hydropower).
The program aims to generate 3,500 megawatts of electricity by investing Rs 698.8 billion in 19 hydropower projects including the Upper Trishuli III B in Nuwakot which is being constructed by the Nepal Electricity Authority.
PM Oli said, “I have instructed the Ministry of Energy, Water Resources and Ministry of Irrigation to simultaneously carry on with all the projects rather than focusing on completing a single one at a time.”
Ministry of Energy, Water Resources and Irrigation had recently launched the programme where the PM Oli, during it's inaugural, had announced that he would purchase the Initial Public Offering (IPO) of the hydropower project to be built in people’s money.
Currently, the IPO of Upper Trishuli III B hydropower company has been floated in the market while PM Oli has also applied to buy 1,000 units of shares.
Although the deadline for applying for its share is tomorrow, the number of applicants willing to purchase IPO share to purchase has already exceeded by four fourfold than the shares.
PM Oli also shared that he had already instructed the Ministry of Energy, Water Resources and Ministry of Irrigation to create an environment where the Nepalis could also invest in other hydropower projects.
After the 370-mega watt-Upper Trishuli III B, IPO shares would be floated for 100-megawatts-Tamakoshi-V and 48-megawatts Bheri Babai Diversion, according to the Ministry.
Likewise, Minister for Energy, Water Resources and Irrigation Barsha Man Pun had applied for 1,000 units of shares of Upper Trishuli III B which is being developed by Trishuli Jal Bidhyut Company Limited. RSS