NEA and HIDCL to Undergo Restructuring in National Budget 2080/81

In a parliamentary session on Monday, Finance Minister Dr. Prakash Sharan Mahat unveiled the budget for the forthcoming fiscal year 2080/81. The announcement occurred during a joint session of the National Assembly and House of Representatives in the federal parliament.

During his address to the joint session, Finance Minister Mahat highlighted that the Nepal Electricity Authority (NEA) will undergo restructuring to foster electricity production. Specifically, NEA will be transformed into a commercial organization, facilitating its operations and efficiency. Minister Mahat further emphasized that legal provisions will be enacted to enable NEA to mobilize debt effectively.

Furthermore, the government aims to restructure the Hydroelectricity Investment and Development Company Limited (HIDCL) to enhance its effectiveness.

Minister Mahat also emphasized the generation of revenue through the import of hydroelectricity. In addition, legal arrangements will be established to facilitate private sector participation in the electricity business.

The constitutional requirement mandates the government to disclose the budget on Jestha 15 each year.

Earlier, on Jestha 05, President Ram Chandra Paudel, the incumbent at the time, presented the policies and programs of the ruling coalition government for the upcoming fiscal year. The government's budget formulation is typically based on these outlined policies and programs, serving as a blueprint for its planned course of action.