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May 18: Upper Tamakoshi Hydropower Company Ltd has concluded its 9th annual general meeting on May 17. The meeting endorsed the annual report and financial report of the FY 2072/73 presented by Kul Man Ghising, Chairman of the company. The meeting also approved the appointment and fee of auditor for the FY 2073/74. As per the decision, two auditors will be appointed in the company. They will be paid Rs 250,000 each as a fee.
The company was established on 2063 BS to construct, operate and manage the Upper Tamakoshi Hydropower Project. The main objective of the company was to minimize power shortage by building the national priority project of 456 MW within 2073/74. As per the plan, nearly 79 percent work was completed by mid-April 2015. However, the devastating earthquake of 25 April 2015 followed by the Terai unrest badly affected the project. As a result, only 87 percent of the work was completed by the second quarter of the current FY 2073/74, informs the company.
In the AGM, Chairman Ghising directed the company officials to build at least one unit within June 2018. “The board of directors is also exerting to complete the project within stipulated time frame,” he said.
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