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Registration Of ‘Hydropower Investment And Development Limited Company’
By KTM Metro Reporter
July 13, 2011: the government has registered a ‘Hydropower Investment and Development Limited Company’ at the Company Registrar’s Office in Tripureshwar, Kathmandu yesterday following the cabinet decision made on July 6, 2011 according to the news posted on nepalnews.com. The objective of the company is to increase investment in the development of hydropower and provide support for economic development.
The new public limited company will have an authorized capital of Rs 50 billion. The paid-up capital will be Rs 8 billion and issued capital Rs 10 billion.
Secretary to the Ministry of Energy will be the ex-officio chairman of the board of directors. Members of the board will be deputy governor of Nepal Rastra Bank: Central Bank of Nepal, joint secretary to Ministry of Finance, joint secretary to Ministry of Law and Justice, administrator of Employees Provident Fund, and deputy auditor general until the first General Meeting of the company is held.
