'PTA has paved way for big investment in hydro projects'

KATHMANDU, Sept 22:

Minister for Finance Ram Sharan Mahat has said the country has started the journey on the path of economic prosperity.

 Inaugurating Bharatpur Festival on Monday, Mahat said Nepal has already started its march toward economic progress. “Now political parties should be responsible and play a supportive role for the development of the country,” Mahat said. He also said the government was committed toward uplifting the living standard of people by creating economic opportunities within the country.

“We have targeted to transform Nepal into a developing country by 2022. To achieve this, we need more investment to fulfill the infrastructure gap,” Mahat said, adding, “Once we overcome these infrastructure impediments, we can achieve economic prosperity through expansion of manufacturing and service industries.”

Mahat also said the government has initiated legal reforms for creating environment conducive for investment. The finance minister also said Power Trade Agreement (PTA) with India and signing of Project Development Agreement (PDA) for Upper Karnali Hydropower Project have paved the way for inflow of large scale investment in the hydropower sector.

“PTA with India has disseminated the message all over the world that investment in Nepal´s hydropower sector is secure as we have already ensured market for power generated here,” Mahat said. “Large scale projects like Pancheshwar Multipurpose Project, Upper Marsyangdi, Arun III and Upper Trishuli are ready for implementation.”

Source: Republica