KATHMANDU: The government has formed a high-level committee to carry out a study on the modality for operating a metro rail service in Kathmandu valley.

A meeting of the Investment Board Nepal (IBN) held today under the chairmanship of Prime Minister Pushpa Kamal Dahal took a decision to this effect.

The Committee led by a member of the National Planning Commission, who looks after the NPC infrastructure, is vested with authority to carry forward preparations for the project, said IBN Chief Executive Officer Maha Prasad Adhikari.

The Committee has been given three months to complete its assigned task while representatives from the Ministry of Finance, the Ministry of Physical Infrastructure and Transport, the IBN and the Department of Railways are members.

The meeting has also decided to develop a project bank as the board already has prepared the detail project report (DPR) for the same.

Meanwhile, the meeting has extended the time for managing the financial resources for Upper Karnali and Arun Third hydro projects.

Similarly, CEO Adhikari shared that the meeting finalised the modality of the Tamakosi III project.