Kathmandu, March 27:

Nepal will propose to develop a few large hydropower projects in South Asia in the upcoming 14th Summit of South Asian Association for Regional Cooperation (SAARC), scheduled to be held in New Delhi.

“The tremendous potential we have in the hydro sector has not been fully utilised. We need assistance from SAARC countries for operating a few large projects for regional development,” Deputy Prime Minister and the Minister for Foreign Affairs, KP Oli today told The Himalayan Times after attending the inaugural session of a seminar on SAARC: A Vision For The Future organised by the Institute of Foreign Affairs.

Oli said the SAARC countries should begin to develop such hydropower projects as model for regional and sub-regional

cooperation in the energy sector. Apart from emphasizing the

regional investors for investing in hydro projects, Nepal will stress on implementation

of SAFTA, and improving regional connectivity.

“We will also emphasise the inter-connectivity of power grids and the development of trans-border gas and oil pipelines,”

Oli told this daily. He said South Asia was an energy deficit region and energy demand in this region exceeded the economic growth rate by two to three

per cent. “Renewable clean energy, such as hydroelectricity, is being looked upon with renewed interest,” he added.

Oli will leave for New Delhi on April 1, or a day before that, along with the prime minister.

He said SAARC’s third decade will be the “decade of implementation.” “Bigger economy of the region may lead, but the smaller economies must also benefit from SAFTA,” he added. He said that the annual meeting of the regional grouping would finalise the establishment of South Asian University, SAARC Telemedicine Project and SAARC Museum on Textiles and Handicrafts.

Proposed SAARC Development Fund and the Regional Food Bank will also be on SAARC summit agenda.

Asked how would it affect Nepal’s participation in the 14th SAARC Summit, if the interim all-party government is formed in a day or two, Oli clarified, “It seems that it will be difficult for a new person to represent Nepal in the Summit. But since it will be done with other parties’ approval, our participation will not be hit.”