FNCCI to seek political commitment for hydropower development

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    FNCCI_EnergyKATHMANDU, April 10: The Federation of Nepalese Chambers of Commerce and Industries (FNCCI) has sought political commitment on eight specific areas for hydropower development in the country.

    The apex body of Nepali private sector has sought commitment of the political parties on political stability, regulatory and institutional framework, infrastructure development, private investment and financing, export of electricity, social and environmental concerns, and political mobilization, education and awareness.

    Leaders of different political parties will express their commitments to the aforesaid issues by signing a document entitled ´Political Commitment on the Development of Hydropower´ on the sidelines of the 47th annual general meeting of FNCCI on Wednesday.

    The document developed by FNCCI includes points such as common principles and policies for hydropower development.

    FNCCI decided to seek commitment of political parties to make sure that mega hydro projects move ahead without hindrance.

    “The primary objective of this commitment letter is to set out the common principles that various political parties adhere to for the development of hydropower in Nepal,” reads the draft of the document.

    FNCCI has already decided to make hydropower the main agenda in its 47th AGM.

    “Both domestic and foreign investors are skeptic about political situation and governance system in the country,” reads the document. “Political parties should recognize and declare hydropower a national priority sector and ensure that their activities do not hamper development and operation of hydropower projects and put investors at risk.”

    FNCCI has also put emphasis on regulatory and institutional issues in the hydropower sector. “Political parties should be committed to support and facilitate plans, policies, laws, regulations and actions that are aimed to achieve planned and sustainable development of hydropower,” the document states.

    The document categorically pinpoints inefficiency of Nepal Electricity Authority (NEA) as one of the reasons behind slow pace of hydropower development in the country. “There is also a need to restructure NEA as a whole to develop a competitive market in the country,” the document reads.

    Similarly, FNCCI is also seeking commitment of political parties on private investment and financing in the hydropower sector. It is also asking political parties to commit to the investors that hydropower development works would not be affected even after the country adopts federal setup.

    Source : Republica /BHOJ RAJ POUDEL