'PPA with India to reduce trade deficit '

KATHMANDU, July 30:

Former foreign ministers and political leaders have stressed on signing Power Purchase Agreement (PPA) with India to lower trade deficit with the southern neighbor.

Speaking at an interaction at Reporters Club on Wednesday, ex-Minister for Foreign Affairs Sujata Koirala projected hydropower development as a way to decrease the escalating trade deficit.

“Three is need of hydropower agreement between Nepal and India,” she said, “Protesting the Indian proposal indicates immaturity in political leaders.”

Koirala stressed on implementation of earlier understanding and making energy agreement beneficial to Nepal.

Also speaking at the function, former foreign minister Upendra Yadav that exporting energy is only way to reduce Nepal’s trade deficit.

Saying that there is high energy demand in India, Yadav stressed on forging agreement for mutual benefits.

He further said that Nepal should prioritize implementation of earlier pact during the visit by Indian Prime Minister Narendra Modi.

Likewise, CPN-UML Secretary Pradeep Gwayali said that Nepal should sign energy agreement with India, as according to him, the pact with benefit both the countries.

Source: Republica