IBN CEO Bhatta submits performance report to PM Deuba

KATHMANDU: A performance contract report of Investment Board Nepal (IBN) for the fiscal year 2021/22 has been presented to Prime Minister and Chairperson of Investment Board Nepal, Sher Bahadur Deuba. IBN CEO Sushil Bhatta submitted the performance report to PM Deuba. A performance agreement was signed between Prime Minister and IBN CEO on 42 activities based on measurable indicators with a timetable for the fiscal year 2021/22, on August 16, 2021. The agreement centred on four main strategic pillars of IBN —  project development and management, investment promotion, institutional development, and coordination, cooperation and partnership. All the works mentioned in the performance report have been completed. As per the report, the IBN has approved a five-year strategic plan including investments worth more than Rs 122 billion in the fiscal year 2021/22.  Further, a guideline related to IBN's project bank and dashboard related to the monitoring of the project have been prepared. Likewise, a study on project structuring of West Seti and SRS6 Joint Hydroelectricity Project and study on extending deadline for the financial management of Upper Karnali Hydropower Project have been completed. IBN has also made public analysis of available technology to establish a chemical fertiliser factory in Nepal. Various systems such as Project Bank Management Information System (PBMIS), One Stop Service (OSS) have been developed to make the Investment Board information technology (IT)-friendly. Likewise, programmes related to investment promotion have been organised at the national and international levels in coordination with various sectors. Receiving the report, PM Deuba applauded the works of IBN in fulfiling the needs for construction of sustainable infrastructures in the country. He openly praised IBN CEO's role in expediting large and national priority projects. PM Deuba further expressed his commitment to doing needful work on the part of the government to encourage and attract investors. On the occasion, Bhatta said the IBN was committed to attracting investment, and developing the Office of Investment Board Nepal as Public-Private Partnerships (PPP) centre of Excellence. IBN CEO Bhatta briefed PM Deuba about project development, institutional reinforcement and bringing stability as per the guideline recommended by the latter. READ ALSO:

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