3 chief ministers urge private sector to invest in provincial projects

KATHMANDU: Chief ministers of Bagmati, Lumbini and Gandaki provinces have urged the private sector to invest in the provinces. In a session of the Nepal Infrastructure Summit 2022 jointly organised by the Ministry of Physical Infrastructure and Transport (MoPIT) and the Confederation of Nepalese Industries (CNI) on Friday, Bagmati Province CM Rajendra Pandey said Bagmati is a large area from an economic point of view, so there is a huge potential for investment. He gave examples of religious sites like Pashupatinath temple and other tourist destinations including Sauraha for the investment. Of the total budget of Rs 70 billion, Bagmati Province was able to generate an income of Rs 20 billion, Pandey said and claimed that if the central government and the bureaucracy cooperated, the province could earn enough income within five years and it will not have to ask the central government for the budget. CM Pandey informed that the province has a plan to produce 200 metric tonnes of chemical fertilisers. A foreign company is going to open a fertiliser factory with approval from the central government. He said the fertiliser will be produced with electricity and there is a plan to give 5 bighas of land for this purpose in four industrial areas. Pandey said that an agricultural tool factory will be opened with 30% investment from the provincial government and remaining 70% from the private sector. Speaking at the session, Lumbini Province CM Kul Prasad KC said the provincial government has prepared 20 projects and urged the private sector to invest in public private partnership (PPP) model. KC said the infrastructure of the province will be constructed in coordination with the central government. He also informed that Lumbini Infrastructure Authority has been formed for the infrastructure development of the province. He said projects can be moved forward with the cooperation of the private sector. He also expressed his commitment to providing electricity, roads and tax exemption for this. Likewise, Gandaki Province CM Krishnachandra Nepali Pokharel said Gandaki Province aimed to achieve 10% economic growth. He said that if the plan is implemented, it will not be difficult to achieve economic growth. However, he said that economic growth could not be achieved due to Covid 19 pandemic. Gandaki Province CM Pokharel said a total of 22 province-level pride projects have been initiated in collaboration with the private sector. Construction of eight projects has already started while the provincial government is attracting private sector to invest in tourism and hydropower. Similarly, construction of cable cars has progressed in some places while completed in other places. CM Pokharel said although Gandaki province is weak in contributing to the economy, it is a good province. he stated that it is necessary to facilitate land acquisition to enable the private sector to invest in other areas. Gandaki Province CM Pokharel appealed to the private sector to join hands to invest in infrastructure. READ ALSO:

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