Nepal‘s Water, People‘s Investment

The government has formally set up the Hydropower Production Company with a slogan "Nepal‘s Water, People‘s Investment provisioning to allow Nepali citizens to invest in hydropower projects.  The Ministry of Energy registered the company at the Company Registrar‘s Office recently based on the 37-point plan of action that the Energy Minister Janardan Sharma had unveiled earlier. The registeration of the company has paved way for Nepali citizens to invest in designated hydropower companies as per their capacity.  According to national news agency (RSS), the Ministry of Energy (MoE) registered the company paying a fee of Rs 6.16 million. The Board of Directors will be formed under the Chairmanship of Energy Secretary Anup Kumar Upadhayay which will appoint the Chief Executive Officer and start other processes.  Nepalis can invest up to 27 percent in the company while people from the project area can invest up to 10 percent.  The company has an authorised capital of Rs 20 billion and paid-up capital of Rs 2 billion.