PM Prachanda’s Vision for Nepal’s Energy Revolution and Economic Transformation

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Prime Minister Prachanda Unveils Ambitious Plans for Nepal’s Energy Future, Mega Hydropower Projects, Trade Partnerships, and Agricultural Transformation in Focus”

Prime Minister Pushpa Kamal Dahal, widely known as Prachanda, delivered a comprehensive address on the government’s plans for the upcoming years, emphasizing a strategic shift in operational approach. In a notable development, he highlighted the government’s renewed focus on energy, particularly hydropower, as a pivotal driver for Nepal’s development.

In his address, Prachanda announced a transformative approach to governance, with a keen eye on energy projects that could be game-changers for the nation. The Prime Minister expressed optimism about partnerships with India, Bangladesh, and China in electricity trade, with a strong emphasis on mega hydropower projects.

Mega Hydropower Initiatives: Prachanda revealed that the government is prioritizing large hydropower projects as catalysts for change. He outlined the progress on projects such as the Budhigandaki hydropower project and the commencement of further studies on the Karnali Chisapani hydropower project with a massive capacity of 10,800 megawatts.

International Collaboration: The Prime Minister highlighted collaborations with neighboring countries, citing India, Bangladesh, and China’s readiness to engage in electricity trade. This signifies a significant step towards regional cooperation and energy security.

Infrastructure Funding: To address resource challenges, Prachanda mentioned the allocation of infrastructure tax from petroleum products to the Budhigandaki hydropower project, ensuring a dedicated source of funding for critical energy initiatives.

Hydropower Expansion: Updates on ongoing projects, including the Arun III hydropower project and the Upper Arun hydropower project, were provided. Power purchase agreements with the private sector for 9,164 megawatts of hydropower projects were also highlighted.

Agricultural Sector Reforms: In addition to energy, the Prime Minister outlined reforms in the agricultural sector, including a production-based subsidy system and plans for the Decade of Investment in the Agricultural Sector (2081-2091). Prachanda emphasized the importance of transforming traditional agricultural practices for sustained growth.

The Prime Minister’s address underlines a comprehensive vision for Nepal’s future, combining energy self-sufficiency, economic development through agriculture, and the promotion of tourism, all aimed at achieving a rapid and sustainable transformation.