KATHMANDU, MAY 05 -
Finance Minister Ram Sharan Mahat has proposed constructing regional
electricity transmission lines to the finance ministers of the South
Asian Association for Regional Cooperation (Saarc).
Mahat stressed on the need for increased expansion of transmission
lines in the region during an informal meeting with the Saarc ministers
on the sidelines of the 47th annual meeting of the Asian Development
Bank (ADB) held in Astana, Kazakhstan. Saarc finance ministers have been
getting together on the sidelines of the ADB annual meeting since 2006.
Nepal, with its large hydropower potential, expects to export power to
other South Asian countries, particularly India, in the future.
The Finance Ministry said in a press release that Mahat said that
efforts should be made to increase investment in infrastructure as the
entire region faces an infrastructure deficit. He added that investments
in infrastructure should be made through the Saarc Development Fund in
addition to social sector development.
Highlighting the achievements in the peace process which has largely
concluded, Mahat said that Nepal was now focusing on boosting domestic
and foreign investment. “Economic reform measures have also been
initiated,” he said.
Meanwhile, addressing the annual meeting of the ADB, Mahat appealed for
big scale investment from the ADB in areas of infrastructure such as
energy, irrigation and roads. Considering the energy crisis plaguing
Nepal, he also urged the ADB to help the country in this sector in a big
way.
Mahat said that the government would sign power development agreements
with hydropower projects being funded by foreign investors. He promised
that Nepal would be an attractive destination for foreign investors and
donors after a year when the constitution making process will be
completed.
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