April 20: Finance Minister Dr Parkash Sharan Mahat has said that the energy sector is one of the major sources for increasing the nation’s income.
In his address during the concluding session of Power Summit 2023 in Kathmandu on Wednesday, Finance Minister Mahat said that the private sector had its significant contribution to the promotion of energy sector in Nepal.
Before the 1990's, the domestic energy production was very less but with the involvement of the private sector in the power generation, the graph of power generation is soaring and now we have arrived at the point of exporting it, said Finance Minister Mahat.
He took time to say that private investors are attracted to Nepal's energy sector seeing its viability. He added that it is a matter of happiness that Nepal is now partially self-sufficient on power production. The minister further said that the government is committed to encourage investors to engage in the energy sector.
"I appeal to the national and international investors to consider investment in Nepal's energy sector. The government is ready to address the problems facing the investors," the minister pledged, assuring various concession and facilities for investments.
According to him, the investment made by the private sector had yielded a favorable result. He saw energy as a good source of income for Nepal.
Stating that the government would take the lead to export surplus electricity to India and Bangladesh and other countries, Finance Minister Mahat vowed to devise a mechanism to export electricity to India.
Considering Bangladesh as another big market for Nepal in terms of electricity, he indicated that surplus electricity could be exported to Bangladesh after inking agreement for the trade of electricity.
According to him, big investors such as the World Bank were keen in investment in hydro power projects in Nepal, mostly medium scale.
He emphasized increasing domestic consumption of energy and encouraged use of electric vehicles and electrification of the transportation sector. -- RSS
