Prachanda: Restarting Plans to Exploit Hydro-Electric Power

This article appeared on The Hindu.

Prachanda seeks mega investments in Nepal

Kathmandu (PTI): Nepal Prime Minister Prachanda has assured international investors of full support from the Maoists-led coalition and asked them to invest in mega projects in the Himalayan nation.

The Maoist Prime Minister, who has expressed commitment to pursuing liberal market economy and promote private investment, called on national and international investors to make investments in mega projects in Nepal. He asked international investors to invest in mega projects such as East-West railway, Kathmandu-Terai Fast Track road and big hydropower projects.

Prachanda underlined that the government will prioritize on private-public partnership to expedite the process of economic development of the country.

Prachanda, who has sought aid from international donors including the USA through his commitment to multi-party democracy and private investment, has been under fire from hardliners who are pushing for a one-party Communist republic, ignoring the changing liberal political and economic trend in the world.

Inaugurating a two-day symposium on ‘Public Private Partnership’ in Kathmandu, the Maoist leader said the government will introduce a new industrial policy in order to facilitate economic development of the country.

Prachanda has taken initiatives to hold talks with India to accomplish the government’s plan to generate 10,000 MW hydropower within ten years period.

Nepal’s Maoist-led coalition recently reached an understanding with India to expedite works relating to the two mega projects of Pancheshwor and Saptakoshi High Dam, with the combined capacity of more than 9,000 MW power as detailed studies of these projects have been pending for years due to political instability in Nepal.