‘Investment on hydropower can be generated from within country’

Kathmandu / Aug 26: Stakeholders concerned have said investment on hydropower could be generated from within the country.

During a consultation meeting the Ministry of Energy held on Friday, Energy Minister Janardan Sharma expressed hope that Rs 100 billion could be generated from within the country for the investment on hydropower.

The representatives from Citizens Investment Trust (CIT), Employee Provident Fund, Insurance Corporation, Military Welfare Fund, Nepal Telecom, and Insurance Corporation informed the meeting on how much amount they had and how much they could invest.

The Employees’ Provident Fund informed that it could invest up to Rs 32 billion; while the CIT could extend Rs 21 billion; Insurance Corporation Rs 5 billion; Nepal Telecom and The Military Welfare Fund Rs 10 billion each.

A proposal was floated in the meeting that even Social Security Fund could be utilized to invest in the hydropower. Moreover, Rs 600 million could be drawn from Nepal Police’s Welfare Fund.

Following the consultative meeting, Energy Minister Sharma said he was excited over the possibility of investment on hydropower from the within the country. RSS