Keep politics out of hydro sector: Indian investors to govt
Indian investors on Monday asked the government to keep the hydropower sector free from politics and create an investment friendly environment, if Nepal wants Indian investments in the sector.
A group of Indian investors led by Ashok Haldia, director of Power Trade Corporation (PTC) India, met Energy Minister Post Bahadur Bogati on Monday and expressed their concerns over Nepal’s business climate.
Given Indian investors such GMR and Satalaj Power facing politically-motivated hurdles at the local level, Haldiya said they asked the minister to keep the power sector free from politics. He also asked the minister to form a special mechanism so as to ensure safety of investments and provide investors conducive atmosphere.
“The license obtaining process alone is so troublesome. These procedural hazards and bureaucratic hurdles may distract investors,” Haldia said at an interaction organised by the Federation of Nepalese Chambers of Commerce and Industry (FNCCI).
He, however, praised Nepal’s hydropower policies. “Most of Nepal’s policies are better than those of India. But the problem is that the government has been failing to implement them,” Haldia said.
According to a member of the visiting Indian team, Minister Bogati, during their meeting, assured them that the government has been doing its bit create an investment friendly environment. “Things appear tough due to the country’s transition, but Indian investors can bring in their investments here without any fear,” he quoted Bogati as saying.
The team is scheduled to meet Prime Minister Baburam Bhattari on Tuesday to discuss possibilities in Nepal’s hydropower sector. Haladia said the team was presently busy holding discussions with political leaders, and only after completing their scheduled meetings, they would unveil their investment plans.
At the interaction, FNCCI President Suraj Vaidhya said the Indian investors’ visit to study Nepal’s investment was the first step towards the NIY. He added that with the formation of a team under the Joint Economic Council (JEC), the private sector of both of the countries will facilitate Indian investors to invest here. “The JTC is also planning to conduct a feasibility study for hydro projects with 100MW capacity each,” said Vaidhya.
Posted on: 2012-02-07 08:44
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