No investment sans PTA: FinMin

KATHMANDU, AUG 28 -

Finance Minister Ram Sharan Mahat said on Wednesday the country’s hydropower sector could not attract investment without signing power trade agreement (PTA) with India.

Blaming politicisation of the hydropower sector for underinvestment, Mahat, speaking at the 15th annual general meeting (AGM) of Society of Economic Journalists (Sejon), said there is trend of preventing investment in hydropower sector.

“Nepal cannot attract big investment in hydro sector if we there is not space for exporting the power,” he said. “PTA is necessary even to get electricity from India during dry season.”

The AGM decided to establish “Emergency Help Fund” for the economic journalists. Out of 1.5 million to be received from the Finance Ministry, Sejon has planned to deposit Rs 500,000 in this fund. Sejon said that it has also initiated process for accidental insurance coverage for economic journalists.

Source: The Kathmandu Post