Entrepreneurs call for development of Pancheshwar project‚ transmission lines
KATHMANDU:
Nepali businesspersons have called on Indian Prime Minister Narendra Modi to expedite the process of building Pancheshwar Multipurpose Project and Nepal-India transmission lines, while stressing on the need to form a joint
government-level body to oversee implementation of commitments on private sector development made by the two sides.
These proposals were laid by a 16-member business delegation that met with Indian Premier Modi today in Kathmandu for around half an hour.
“We requested the Indian premier to expedite development of Pancheshwar Multipurpose Project so that both the countries could meet their energy needs,” said President of the Federation of Nepalese Chambers of Commerce and Industry (FNCCI) Pradeep Jung Pandey, who made a welcome remark on behalf of the business delegation.
Although talks of building the 6480-megawatt project began as early as 1996, nothing much has happened so far.
However, yesterday’s signing of Letters of Exchange on the Terms of Reference for Pancheshwar Development Authority between Nepal and India has indicated that the project would be implemented soon.
As per the agreement, Nepal and India would set up the authority within six months and finalise the detailed project report of Pancheshwar Development Project and begin implementation within a year.
“To ensure that both the governments meet the targets and exert pressure on them, we have requested the Indian premier to explore possibilities to incorporating private sector representatives in the authority,” FNCCI Senior Vice President Pashupati Murarka said.
Further, the business delegation requested the Indian premier to expedite works of building cross-border transmission lines.
“We also requested the Indian side to let Nepal use funds pledged under new credit line of $1 billion in bigger projects so that financial resources do not get scattered in small projects,” Murarka said.
India yesterday announced a soft credit line of $1 billion for Nepal to execute infrastructure development and energy projects as identified and prioritised by the Nepal government. These soft loans, at present, are being extended at 1.75 per cent interest and 0.25 per cent service charge, with payback period of 20 years.
Among others, Indian support for promotion of commercial agriculture, tourism sector, building of Kathmandu-Tarai fast track and second international airport at Nijgadh was also sought, the delegates said.
In response, the Indian premier said his country was always willing to support Nepal in any way.
“In this regard, we should do a proper homework and come up with a concrete agenda on our expectations from the Indian side and present it to Indian Premier Modi when he visits Nepal in November to attend SAARC Summit,” FNCCI Immediate Past President Suraj Vaidya said.
Today’s meeting was also participated by President of the Confederation of Nepalese Industries (CNI) Narendra Basnyat, CNI President Emeritus Binod Kumar Chaudhary, CNI Vice President Hari Bhakta Sharma, CNI Vice President Anuj Agrawal and Nepal Business Initiative President Padma Jyoti.
Others who took part in the meeting were Nepal Chamber of Commerce President Rajesh Kaji Shrestha, President of Nepal-India Chamber of Commerce and Industry (NICCI) Sashi Raj Pandey, NICCI Immediate Past President Arun Chaudhary, NICCI Secretary General Saurya SJB Rana, NICCI Founding President Prabhakar Shumsher Rana, President of the Nepal Foreign Trade Association Ramesh Gupta, businessman Upendra Mahato and hotelier Arun Kumar Saraf.
Source: THT
