August 22: Minister for Energy, Water Resources, and Irrigation, Shakti Bahadur Basnet, has said that a power trade agreement with Bangladesh will be reached shortly.

Speaking to reporters at Bharatpur airport today, Minister Basnet assured that the announcement of this agreement will occur within this year.

Basnet highlighted that while certain details are being formalized, the agreement is in its final stage, and once signed, it will be put into execution.

Minister Basnet went on to emphasize that Nepal is well on its way to achieving self-sufficiency in electricity, both during the dry and monsoon seasons. He stated, "We are poised to become completely self-reliant in electricity, which will effectively address the challenges we currently face."

Addressing the issue of electricity over-production during the rainy season and scarcity in the dry season, the Minister expressed confidence in resolving these problems promptly. Efforts are underway to enhance the distribution system's efficiency by bolstering production capacity, Basnet added.

Similarly, Minister Basnet stated that electrification, which previously covered only half of the area, has now extended to cover 90 percent of the region.

Minister asserted that the current challenges will be tackled in the upcoming dry season, as the government  is diligently working to streamline energy production, transmission, and distribution through an integrated strategy.

Additionally, the Minister highlighted the integration of power trade within the overarching plan. He stated, "Our approach also encompasses seamless power trade integration, and we are concurrently reforming policies and regulations to maximize the effectiveness of these initiatives." (RSS)