Govt trying to bring in investment, says Mahat

Kathmandu, September 17:

The two-day Power Summit 2007 began today with the aim to highlight the tremendous potential of hydropower of Nepal with special focus on inviting investment participation from private players.

The seminar has the following aims: Defining the process for injecting more capital into this sector; acquiring new and modern technology; mobilising private capability — both national and international — to improve hydropower development; possibility of access to the power market in India through power exchange and establishment of mechanism for risk management in time with international practices and trend.

Speaking at the inaugural session, Minister for Finance Dr Ram Saran Mahat said: “The government has been making efforts to maintain supportive macroeconomic environment so that productive investments would flourish in all critical areas including hydropower. The banking system’s involvement in the feasible hydropower projects would help make the investment climate and the performance better.”

“Powering opportunities” has been adopted as the tagline of the summit, which was also the tagline of the Power Summit last year.

Hisila Yami, Minister for Physical Planning and Works, was, however, of the view that the tagline should have been “challenges and opportunities” as there are numerous challenges facing the hydropower sector currently.

Speakers were of the opinion that significant achievements have been made in the

development of hydropower over a year.

“Genuine progress has been made over the last one year, which was unheard of over the last three decades or so,” said Dr Sandip Shah, President of IPPAN (Independent Power Producers’ Association of Nepal), which is one of the organisers of the Summit.

The other organisers include Nepal Bankers’ Association and PTC India limited.

“The power summit is significant as it will explore the role of Indian power developers in Nepal’s hydropower sector,” Siddhartha Raj Pandey, Executive Director of Delta Core, an international liaisoning and representative business house, told this daily.