June 16: The President of the Federation of Nepalese Chambers of Commerce and Industry (FNCCI), Chandra Prasad Dhakal, has highlighted a significant opportunity for Indian private investment in Nepal's energy sector.

 Speaking at the 21st Annual General Meeting of the Independent Power Producers' Association, Nepal (IPPAN), President Dhakal expressed his confidence in attracting substantial investment from the Indian private sector in Nepal's energy sector.

During Prime Minister Pushpa Kamal Dahal's visit to India, the FNCCI engaged in discussions with private sector representatives from India, who showed great enthusiasm for investing in Nepal, according to President Dhakal.  However, he emphasized that for investment to materialize, the Nepalese government must create an investment-friendly environment.

President Dhakal emphasized that the private sector has played a crucial role in the rapid development of the hydropower sector.  The involvement of private investors has facilitated advancements in infrastructure, cement production, and electricity generation.

President Dhakal also pointed out that the recent visit of the Prime Minister to India has made a breakhrough  in power exports to India and Bangladesh, which will have a substantial impact on Nepal's economy.

"The breakthrough includes provisions for exporting 10,000 megawatts of electricity to India and Bangladesh. To make this a reality, Nepal must promptly address issues related to transmission lines and power purchase agreements," stressed President Dhakal.