Energy Minister calls for bringing in more investment in the energy sector

Kathmandu - Energy Minister Mahendra Bahadur Shahi has said that the investment of other countries than India and China was also needed for the development of the energy sector.

He argued that only the investment from China and India would not be enough and so the investment from other countries than these should also be attracted.

Minister Shahi said this in a meeting with the South Korean ambassador to Nepal, Park Young-sik when the latter went to pay a courtesy call on him.

The Minister stressed that Nepal should take benefit from the development and the progress of rich and developed countries like South Korea.

"Investment by India and China alone would not be enough. So, policy should be formulated to create an environment for bringing in investment from other countries also," Minister Shahi said. He added that initiation for the same would be taken during his term.

The Energy Minister also urged for confidently investing in the energy sector and paying attention to the development and construction as an environment of political stability has been created in Nepal.

In the meeting the South Korean ambassador urged Minister Shahi to forward the power purchase agreement of the Upper Trishuli 'A' hydropower project.

Stating that other countries do not have the kind easy environment as India and China to invest in Nepal, ambassador Young-sik said that South Korea wanted to invest in Nepal.

He also drew the attention of the Energy Minister to create an environment conducive for Korean investment in Nepal.

Budhigandaki project-affected demand immediate compensation Meanwhile, the people affected by the Budhigandaki Hydroelectricity Project have urged the Energy Minister to distribute the compensation to all the affected families within the current fiscal year.

This is stated in the memorandum a delegation of the project affected families handed over to the Energy Minister at the Ministry today. The memorandum calls for distributing compensation to the project affected families in all the 27 erstwhile VDCs of Gorkha and Dhading districts.
 
It is stated that distribution of compensation has been started only in six erstwhile VDCs in the fiscal year 2016/17.

Rs 60 billion will be needed for compensation for the households that would be displaced due to the dam to be constructed for the 1200-Megawatt project. The government has earmarked Rs 10 billion for this purpose this current fiscal year.