FinMin seeks investment from US

KATHMANDU:

Minister for Finance Ram Sharan Mahat met with the United States Assistant Secretary for South and Central Asian Affairs Nisha Desai Biswal and talked about bilateral cooperation during his visit to the US, said a statement of the Ministry of Finance (MoF) issued today.

“In the meeting, Mahat sought the US government’s cooperation to bring in foreign direct investment for Nepal’s hydropower development,” the statement added.

In the meeting with Biswal, Minister Mahat informed her about the recently signed Power Trade Agreement (PTA) with southern neighbour India to ensure the market of electricity. India has been taken as a huge market for Nepali power producers as India’s energy consumption is growing every passing year as industrialisation expands there.

Mahat also requested the US side for the continuity of the Generalised System of Preferences (GSP) for Nepal for easy access of Nepali goods in the US market, according to the statement. “Mahat also talked about the development in constitution drafting process and the recently initiated legal reforms for better business environment in the country.”

Minister Mahat also met Marisa Lago, assistant at the US Treasury Department.

He also participated in a programme titled ‘Renewable Energy’ as a panellist, which was convened by the President of the World Bank Jim Yong Kim, and spoke on the political consensus being developed to harness hydropower potential of Nepal.

Source: THT