No FDI in hydro power‚ says CPN-M



    FDI CPN-Maoist Vice-chairman CP Gajurel today said hydro projects with foreign investment was not acceptable to his party.

    “As hydro projects with foreign investment do not benefit the country, we shall not allow such projects,” Gajurel said at a press meet organised by Revolutionary Journalists’ Federation, at Beshisahar, Lamjung.

    He urged foreign investors not to dream of building hydro projects and taking electricity to foreign lands. He, however, pledged support to investors willing to use the power inside the country.

    Earlier, CPN-M had closed down Marsyangdi-2 and Upper Karnali hydro projects raising the issue of people’s special rights. He asked the government not to take pride in the increasing foreign investment in hydropower. “It is foolhardiness to brag when foreigners invest in hydro as this is betrayal of nation.” Citing the 550 MW Chilime and 456 MW Upper Tamakoshi projects built with Nepali investment, Gajurel argued the country did not need foreign investment if it really wanted to develop the hydro power sector.

    Source : The Himalayan Times