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Creating Environment Conducive To Investment Stressed
By KTM Metro Reporter
March 22, 2012: Speaking at the press conference held in Kathmandu on Tuesday, March 20, 2012, Officiating President of Federation of Nepal Chambers of Commerce and Industry (FNCCI) Bhaskar Raj Rajkarnikar has put the stress on the need for creating an environment conducive to attracting investments in the country; without a business-friendly climate, the country would not make an economic progress, ‘The Rising Nepal’ of March 21, 2012 writes.
He has said that only signing Bilateral Investment Promotion and Protection (BIPPA) will not bring investments to the country; the government needs first to create an investment friendly environment in the country.
He has said that the 750 MW West Seti Hydropower should be constructed for ending the ongoing load-shedding and increasing industrial productivity; the current debate on this project in the parliament has led to uncertainty of implementing it; that is certainly not good for the country.
On February 29, 2012, the Government of Nepal has reached a deal with the Chinese company called China Three Gorges Corp (CTGC) on the 750 MW West Seti Hydropower project. The CTGC has agreed on providing Nepal with 75% of the project cost in soft loan and leaving the remaining 25% to the Nepal Electricity Authority to take up. NC lawmakers such as Gagan Thapa and Laxam Ghimire have vehemently opposed it stating irregularities in the deal. However, the concerned minister has challenged these guys stating to face any actions if they find any irregularities in the deal, as the Government has strictly followed the rules and regulations concerning the power deal.
Some of the locals of the project site have charged these guys with making such a fuss, as they have not received the commission they have demanded. The locals have said that they would protest against not enforcing the project deal if the government under the pressure of these unscrupulous lawmakers does not enforce it.
