August 2: The Independent Power Producers' Association, Nepal (IPPAN) has urged not to halt the public issuance approval process.

 IPPAN made this appeal in a press release issued on Thursday. Noting that there has been an attempt to financially undermine hydropower companies, IPPAN expressed its serious concern over the matter.

The issuance of rights shares and IPOs of more than 32 hydropower companies worth over Rs 16 billion have been halted for the past six months.

“The delay in appointment of the chairman of the Securities Board of Nepal (SEBON) is deliberate effort to financially destabilize hydropower companies,” said the press statement.

The press statement accused certain groups of intentionally obstructing the appointment process for SEBON's chairman to serve their commercial interests, effectively holding the entire hydropower sector hostage.

 IPPAN further alleged that SEBON has been concealing its past decisions related to the hydropower sector and is attempting to damage the reputation of the sector's entrepreneurs.

IPPAN also addressed recent media reports concerning the sale of founder/promoter shares, which claimed that the lock-in period for these shares in hydropower projects had been extended.

The association dismissed these reports as misleading and aimed at tarnishing the reputation of the hydropower sector. IPPAN emphasized the need for clarity and transparency to protect the interests of the sector and its stakeholders.