Finance Minister pledges support for power producers

KATHMANDU: Deputy Prime Minister and Minister for Finance, Bishnu Prasad Paudel, has stated that the government will operate in a manner that encourages power producers.

During a meeting with the office bearers of the Independent Power Producers' Association, Nepal (IPPAN) at his office on Sunday, DPM Paudel emphasised the need to support energy producers, as the country still lacks sufficient electricity. He noted that Nepal is both importing and exporting electricity and urged the delegation to increase electricity consumption. He assured that his efforts would not disappoint private sector power producers.

On the occasion, IPPAN President Ganesh Karki informed the Finance Minister that the private sector has played a significant role in electricity production. In the past two and a half decades alone, the private sector has completed 182 hydropower projects totalling 2,500 megawatts (MW). Additionally, 137 hydropower projects are currently under construction, which will produce 3,900MW of power. Karki expressed concerns that, despite the private sector's vigorous efforts in hydropower production, current financial and monetary policies are discouraging.