Kathmandu Government Urges Massive Hydro Power Investment

KATHMANDU — President Bidya Devi Bhandari has urged the government and the private sector to increase investment in hydropower sector as it is the basis of economic prosperity of the country.

Inaugurating the ‘Himalayan Hydro Expo-2018′ organised by Independent Power Producers’ Association Nepal (IPPAN) here today, President Bhandari drew the attention of stakeholders to increase the investment finding out the reason why Nepal has remained behind even through it is the first country producing power in South Asia.

She also requested to move ahead by making improvement if there are some weaknesses in policy matters to invent new technology and to increase investment, saying there would be overall economic development of the country only from development of energy sector.

Stressing that utilizing the hydropower was responsibility of all, the President said, “The sector having a great possibility should be moved forward incorporating it in technical aspect, and policies and programme. The government and private sectors should move ahead together for the same.”

President Bhandari argued that emphasis should be given to the production of green energy.

She stressed that the country should be made capable by supplying, using and managing reliable energy, saying the country should be made self-dependent on energy.

On a different note, President Bhandari said that the way for economic prosperity has been paved as the country has moved ahead towards the phase of political stability.

Similarly, President of Federation of Nepalese Chambers of Commerce and Industry, Bhawani Rana, said that development of energy sector was the important condition to fulfill the target of promoting the country to a status of developed country within 2030.

Rana also laid emphasis that the private sector should involve to increase investment and to find out technology as energy sector is the appropriate medium to reduce trade deficit.
Likewise, Chairperson of Confederation of Nepalese Industries, Haribhakta Sharma, expressed the belief that a new government would involve in development of power sector by paving ways for political stability and economic prosperity.

IPPAN President Shailendra Guragain said that the expo was organised with an objective of handing over technology, identification of investment sources and creating investment-friendly environment for development of power sector.

Newly invented technologies in China, India, Brazil, Sweden, Italy, South Korea and Norway, among other countries have been put on display in the three-day expo.

The organiser has expected some 50,000 visitors in the expo.