Friday, June 28, 2013

CWE proposes dialogue for West Seti

west seti2The CWE Investment Corporation of the China Three Gorges Corporation has proposed for dialogue after finding the reservoir based 750 MW West Seti Hydropower Project financially lucrative.
“It has proposed dialogue sending a letter after the financial and technical reports have come positive,” Chief Executive Officer (CEO) of the Investment Board (IB) Radhesh Pant said. “We are confident that the project will be constructed in time as CWE is positive about taking the project forward,” he added and revealed that the financial analysis of the project will be revealed soon. Joint Secretary of IB Mukunda Prasad Poudel said the date and place for dialogue have yet to be decided. He revealed that CWE has raised the issues of PPA, transmission line for the project, and resettlement of the affected locals and land acquisition. The estimated financial analysis of CWE states that the rate of PPA should be 5.40 cents during the rainy season and 9.50 cents during the dry season for the project to be financially lucrative. The rates are lower than that determined by the government.
CWE has concluded that the annual inflation should be three percent, and loan period 18 years out of which six years have to be grace period for the project to be financially viable. Agreement on the issues including PPA will be decided only through a bilateral dialogue despite CWE completing financial analysis. The Nepal government, meanwhile, is determining a rate of return of 18 percent for the promoters of reservoir based projects. A report prepared by the Ministry of Energy has proposed that the rate of PPA for reservoir based projects during the dry season five years later should be 10.66 cents.
The Memorandum of Understanding (MOU) states that CWE will help in construction of transmission line but the Nepal government should invest in it. Stating that resettlement of affected locals and land acquisition will be challenging it has proposed that the Nepal government should lead the processes. Its technical proposal states that constructing the transmission line will cost around US$ 404.80 million. CWE and IB had signed an 18-point MOU at the end of August incorporating the directives of the then parliamentary committee on natural resources and means.
The Snowy Mountain Engineering Corporation (SMEC) of Australia had estimated the cost of the project to be US$ 1.60 billion excluding construction of transmission line around 17 years ago. The project will be built in Public Private Partnership (PPP) model. The locals will be provided up to 10 percent shares in the project that will have 65 percent shares of CWE and 25 percent of Nepal government, according to the MOU. The MOU further states that study will be started to make the project multi-purpose without affecting electricity generation and returns, and making arrangements for resettlement of the locals who will be displaced as per the prevailing laws and paying attention to the humane and security aspects.
IB will assist in security, getting government permission, land acquisition, resettlement, and environmental impact assessment (EIA) for the project that will be built in Doti, Dadeldhura and Bajhang districts of the far west region. The project’s 150 MW energy will be spent in economic development of the far west region and a joint company will be established for construction of the project as per the MOU.
Source : Karobar

NEA suffers loss of Rs 1.16 b in import of electricity

The Nepal Electricity Authority (NEA) has suffered a loss of Rs 1.16 billion in import of electricity from India during the current fiscal year due to 25 percent of leakage from the transmission system in course of import. NEA has been suffering leakages in such a high degree every year due to poor transmission infrastructures.

NEA has imported 643,667,000 units of electricity worth around Rs 4.64 billion this year and 160,916,000 units out of that have been lost due to leakage. The per unit cost of imported electricity is Rs 7.22 apart from the leakage and wheeling charge, and it rises by Rs 1.08 per unit due to the leakage. The per unit cost rises to around Rs 9 due to the leakage and wheeling charge while NEA earns Rs 8.15 per unit by selling electricity to the customers. “The loss will rise further in the next year as import of electricity has risen in recent times,” Deputy Executive Director of the Finance Department of NEA Lab Bahadur Ghimire said. “800 million units of electricity will be imported by the end of this fiscal year and the loss will rise further,” he added.
NEA has been importing electricity mainly from the Bihar Electricity Board, the Power Trading Corporation, India Limited, and the Uttar Pradesh Electricity Board. The government is providing Rs 278.60 million to NEA to compensate for the loss suffered from import till now. He revealed that the Ministry of Energy has already forwarded recommendation for payment to the Finance Ministry. NEA had planned to import 1.05 billion units of electricity from India in the current fiscal year to control load-shedding, around 340 million units more than what was imported in the last fiscal year,  but the targeted quantity could not be imported due to the delay in expansion of capacity of the 132 KV Kataiya-Kushaha Transmission Line.
Nepal has been procuring electricity from India in two ways–as per the exchange agreement and by paying commercial rate. A minimum of 50 MW to 80 MW is imported as per the bilateral agreement while the rest at commercial rate. NEA imported 170 MW this year and it aims to limit load-shedding to 12-14 hours a day the next year by importing another 70 MW. Though the demand of electricity rises by 100 MW every year, projects have not been constructed to address the rising demand.
Source : Karobar

ADB to accelerate demand-side energy efficiency investments

Lesser-developed countries — with limited, inefficient, or ageing power plants, and significant supply gaps — like Nepal, Bangladesh, Cambodia, Kazakhstan, Laos, Pakistan, Sri Lanka, and Uzbekistan, should be supported for interventions that could focus on priorities for reducing line losses; installing proper metering, billing, and collection systems; and improving the efficiency of power plants, according to a new Asian Development Bank (ADB) study, ‘Same Energy, More Power: Accelerating Energy Efficiency in Asia’, that highlights the booming demand for power in developing Asia.

Asian Development Bank will boost investment in end-user energy efficiency to help Asia and the Pacific tackle the surging power demand and growing environmental threats from greenhouse gas emissions.
“There is a huge potential for saving energy by making buildings, vehicles, machinery and water pumps more energy efficient for the benefit of consumers and the environment, and the time is right for ADB to do more in this area,” said ADB’s vice-president for Knowledge Management and Sustainable Development Bindu N Lohani, at the opening of the eighth Asia Clean Energy Forum, in Manila, today.
“We want to promote demand-side energy efficiency through public and private sector partnership, with ADB taking a lead role in providing customised policy advisory services, technical assistance, and innovative financing support in developing member countries,” he added.
The study notes that the region’s share of primary global energy
consumption is set to rise from 34 per cent in 2010 to as much as 56 per cent in 2035. By then, most Asian countries will produce less than half of the energy they need, forcing substantial fuel imports.
Using energy more efficiently reduces the need to build power plants and lowers imported fuel bills, potentially freeing up government funds for spending elsewhere. The spending could include provision of electricity to the estimated 628 million people in the region who currently have no supply. Implementing energy efficiency measures is more cost effective than expanding energy generation. The report notes that energy efficiency investments equivalent to one per cent to four per cent of energy sector spending could meet as much as 25 per cent of the projected increase in primary energy consumption in developing Asia by 2030.
ADB has been expanding investment in clean energy, including in renewable energy and energy efficiency, providing $2.3 billion in financing in 2012. Last year, ADB invested more than $970 million in energy efficiency projects, with the majority of projects focused on demand-side energy efficiency, including households and manufacturing plants.
Increased investment in energy efficiency will help make Asia’s energy sector more sustainable, affordable, and reliable. A growing number of countries like China, India, and Thailand are already implementing energy efficiency initiatives as a least-cost solution to meeting rising power demand, and ADB is keen to support such efforts.
Potential new investment by ADB could include support for energy-efficient public building upgrades, street lighting improvements, and upgrades of electricity metering devices.
ADB may also look to promote energy-efficiency programmes in utility companies and in state-owned industrial facilities, as well as provide financing mechanisms to help manufacturers phase out inefficient products more quickly.
Source : The Himalayan Times

Government, Sutlej confident of inking key deal on Arun-III

The development of one of the largest hydropower projects in the country, the 900-megawatt Arun-III, has picked up momentum after 30 years of fuss and floundering, with the government and Indian power developer Sutlej Jal Vidyut Nigam Ltd (SJVNL) finally beginning negotiations on the project development agreement (PDA).

The government and SJVNL have both expressed a high level of confidence that the key agreement for commencing the project construction would be inked.
The Investment Board of Nepal (IBN) and SJVNL kicked-started the PDA negotiations last week. “We started negotiations with SJVN and things are taking a right direction,” Radesh Pant, chief executive officer of IBN, told Republica on Thursday.
Expressing confidence over developing the project, R. P. Singh, chairman and managing director of SJVNL, said there was no fear of losing the project. “Now the project is moving. The PDA discussions are on. It is right that the PDA was submitted around two years back. What can we do, this is the way with Nepal, our partners on the project,” reports Live mint, an Indian newspaper, quoting Singh. “I am quite sure, the way the negotiations are on with IBN, that it will be sorted out.”
The development of the project, which has always gotten politicized, seems finally to be happening as both the government and the developer express the same level of confidence. “I am sure the deal will be sealed. But I can’t say whether it will take just a few weeks or around a year to finalize all the terms and conditions of the PDA,” Pant said. The project based in Sankhuwasabha district was initially scheduled to be developed by the government itself with the assistance of the World Bank.
James Wolfensohn, then president of the World Bank, cancelled the project development in August 1995 in agreement with the CPN(UML)-led government, after a telephone conversation with then prime minister Manmohan Adhikari, according to a World Bank news release.
SJVNL, which has agreed to provide 21.9 percent of the power generated from the plant to Nepal free of cost, is yet to finalize different issues related to the PDA. The export-oriented project will get a generation license from the government after it demonstrates strong enough financial resources. SJVNL is targeting to utilize the energy generated from the project to meet the growing demand for electricity in the Indian market.
“SJVNL itself seems enthusiastic to take the project forward but it might just be a gesture,” said a legal advisor associated with Herbert Smith, an international legal advisory body based in London. Herbert Smith, which developed the PDA template — a baseline document for PDA negotiations — is also supporting IBN to negotiate with the developers.
SJVNL had already submitted a detailed project report for Arun-III in 2011. The report is still under consideration. The government has handed over the project to SJVNL under a built-own-operate-transfer (BOOT) scheme for 30 years. It is still unclear exactly how all the issues related to the project will move forward, Pant said.
Large export-oriented hydropower projects have been politicized in the past, mainly by the ultra-leftist forces. The Mohan Baidha-led CPN-Maoist is still against projects such as Upper Karnali, Upper Marsyangdi and Arun-III, in which Indian developers are involved.
Quoting former Indian ambassador to Nepal Shiv Mukherjee, Live mint has written, “Hydroelectric power and its potential have been highly politicized in Nepal. I won’t comment on specifics…”
Source : Republice

Thursday, June 27, 2013

हेटौँडा–भरतपुर प्रसारण लाईन आयोजना समयमै सम्पन्न नहुने निश्चित

trl-energyनेपाल विद्युत प्राधिकरणले पावर पुलको रुपमा विस्तार गर्न लागेको हेटौंडा–भरतपुर–बर्दघाट २२० केभी प्रसारण लाइन आयोजनाको काम समयमै सम्पन्न नहुने निश्चित भएको छ । प्रसारण लाईन विस्तार क्षेत्रमा रुख कटान, टावर र सव–स्टेशनको काम सुस्त गतिमा भईरहेकाले समयमै काम सम्पन्न नहुने निश्चित भएको हो ।
परियोजना अन्तरगत समुदायिक वनको रुख कटानको काम समेत आधा मात्रै भएको छ । चितवनको २५ मध्ये ५ वटा र मकवानपुरका २० मध्ये ६ वटा सामुदायिक वनको मात्रै रुख कटानको काम भएको छ । ‘मकवानपुरका ६ वटा सामुदायिक वनको रुख कटान भएको छ, त्यसमध्ये तीनवटा सामुदायिक वनको काठ समूहलाई हस्तान्तरण भईसकेको छ भने तीन वटाको बाँकी छ ।’–जिल्ला वन कार्यालय मकवानपुरका सहायक वन अधिकृत थिरबहादुर कार्कीले भने ।
बर्षा शुरु भएकाले कटान आदेश रोकिएको जनाईएको छ । ‘वन ऐन अन्तरगत जेठ मसान्तदेखि कार्तिक १५ गतेसम्म कटान रोकिन्छ, त्यो अवधिमा वन प्रवेशमा रोक लगाईएको छ ।’–कार्कीले भने । आयोजनाले निर्माण गर्ने २ सय २६ वटा टावर मध्ये १ सय ९० वटा टावर सामुदायिक वन क्षेत्रमा पर्ने भएकाले रुख कटान हुनु अनिवार्य छ ।
प्रसारण लाईन विस्तारका लागि अहिलेसम्म ७४ वटा टावरको फाउन्डेशनको काम भएको जनाईएको छ । ‘हामी बर्षामा पनि काम गरिरहेका छौं ।’–आयोजनाका इन्जिनियर रमेश घिमिरेले भने–‘ समस्या नरहेका स्थानमा टावरको फाउन्डेशनको काम भईरहेको छ ।’ सन् २००९ मार्च १६ मा रुख कटान र तार विस्तारको ठेक्का पाएको भारतिय कम्पनी आईकम टेलीको सम्झौता २०१२ जुन ३० मा सकिएपछि प्राधिकरणले पुनः १४ महिना थप गरेको छ ।
प्रस्तुति: कारोबार

सुपर दोर्दी ‘ख’ मा लगानी गर्न कर्मचारीलाई आग्रह

पूर्वी लमजुङको ढोडेनी र फलेनी गाउँ विकास समितिमा निर्माणको तयारीमा रहेको ४९ दशमलव ६ मेगावाट क्षमताको सुपर दोर्दी ‘ख’ जलविद्युत आयोजनामा लगानी गर्न जिल्लास्थित सरकारी कार्यलयका कर्मचारीहरुलाई आयोजनाले आग्रह गरेको छ ।

सुपरदोर्दी इन्भेष्टमेन्ट कम्पनील लगानीमैत्री अन्तरक्रिया कार्यक्रमको आयोजना गरी जिल्लाका सबै सरकारी कार्यलयका कर्मचारीहरुलाई लsuper-dordi-kholaमजुङबासी सरह लगानी गर्न आग्रह गरेको हो । आयोजनाले जिल्लाबासीको हकमा १ लाखभन्दा माथि लगानी गर्न आग्रह गरिरहेका बेला जिल्ला स्थित सरकारी कर्मचारीहरुलाई पनि जिल्लाबासी सरहनै लगानी गर्ने वातावरण मिलाउन एक दिने अन्तरक्रिया कार्यक्रमको आयोजना गरीएको सुपरदोर्दी इन्भेष्टमेन्ट कम्पनीका अध्यक्ष इजनकुमार बरालले जानकारी दिए ।
अन्तरक्रिया कार्यक्रममा पिपुल्स हाइड्रोपावर कम्पनीका प्रबन्ध संचालक केशव रायमाझले हालसम्म आयोजनाको फिजिबिलीटी रिपोर्ट, प्रारम्भिक वातावरणिय परिक्षण, नेपाल विद्युत प्राधिकरण सँगको ग्रिड कनेक्सनमा सम्झौता, आयोजनाको पिपिए, डिपिआर, स्वलगानी रकम तथा आयोजनाको बारेमा सहभागीहरुलाई बिस्तृत जानकारी गराएका थिए ।
सोही अवसरमा प्रमुख जिल्ला अधिकारी बाबुराम भण्डारीले आयोजनाको बारेमा आफुहरुलाई चित्त बुझेकोले सबैलाई सक्दो लगानी गर्न आग्रह गर्दे जिल्लाको जलविद्युत  क्षेत्रमा लगानी मैत्री वातावरण बनाई नमुना जिल्लाको रुपमा विकास गर्नका लागि सकेको लगानी गर्न आग्रह गरेका थिए ।
प्रस्तुति: कारोबार

Key agreement yet to be signed on SJVNL’s Nepal project

Project development agreement for the 5900MW project submitted to Nepal by Satluj Jal Vidyut Nigam 2 years ago yet to be signed

SJVNLNew Delhi: Satluj Jal Vidyut Nigam Ltd’s (SJVNL) Arun-III project in Nepal has hit the skids with a key agreement for the 900 megawatts (MW) project awarded in 2008 yet to be signed.
The Indian state-run company submitted a project development agreement (PDA) for the planned Rs.5,200-crore facility to the Nepal government two years ago, but despite several attempts from India it has not moved forward.
The hydropower project is to come up in Nepal’s Sankhuwasabha district.
India recently lost development rights for two hydropower projects in Myanmar because of environmental and social concerns.
Nepal is located strategically between India and China, both of which have significant regional and global aspirations. The Himalayan country is open to partnering with Chinese and Indian firms to raise money.
“While the draft for PDA was submitted around two years back, it hasn’t been signed. They (Nepal) are suspicious,” said an official in India’s power ministry, requesting anonymity. “This when the project was awarded after a competitive bidding. Since the PDA hasn’t been signed, further work is awaited.”
The project is still alive, he said, but “it is getting no traction”.
SJVNL and the Nepal government were to have signed the PDA by 16 January 2010, according to the Central Electricity Authority (CEA), India’s apex power sector planning body.
A memorandum of understanding (MoU) was signed between the Indian firm and the Nepal government on 2 March 2008.
As per New Delhi’s economic diplomacy initiative to engage Nepal, SJVNL is to provide 21.9% of the electricity generated from the project free to Nepal. It would also have to pay 7.5% of the total income from the project as royalty to the Nepal government. India, in turn, plans to transmit the electricity generated from the project to cater to the growing demand back home.
The build, own, operate and transfer project was awarded to SJVNL for 30 years.
A detailed project report for Arun-III submitted by SJVNL to CEA in May 2011 is under consideration.
According to the terms of the MoU, “SJVN shall be held responsible for the completion of the construction works within sixty (60) months from the date of financial closure to commissioning of the project.”
R.P. Singh, chairman and managing director, SJVNL, said there was no fear of losing the project.
“Now the project is moving. The PDA discussions are on. It is right that the PDA was submitted around two years back. What can we do, this is the way with Nepal, who are our partners on the project,” he said. “I am quite sure that the way that the negotiations are on with the investment board of Nepal, it will be sorted out.”
Hydropower projects come with their own set of problems. Executing such projects is a time-consuming and tedious process and their construction requires specialized technology and design.
An Indian foreign ministry spokesperson declined comment but referred questions to SJVNL. Questions emailed to the Nepal embassy in New Delhi on Monday remained unanswered till press time.
India has a power generation capacity of 225,133MW, of which 17.6% or 39,623.40MW is hydropower. In comparison, Nepal has an installed power generation capacity of 617MW, of which around 570MW is generated from hydropower.
Although Nepal has a hydropower potential of 43,000MW, known to be technically feasible and economically viable, it is facing a shortage, with India being a net exporter of power to Nepal.
Tapping some of the country’s hydropower potential could help bridge that gap and serve as a source of power for India. Nepal has emerged as a favourite destination for several Indian hydroelectric power generation firms.
Shiv Mukherjee, former Indian ambassador to Nepal, said: “Hydroelectric power and its potential has been highly politicized in Nepal. I won’t comment on specifics because I don’t know all the details. Nepal has among the highest viable hydropower potential but it still remains among the poorest nations because it is politicized. Instead of utilizing the potential, it remains muddled in power politics so much so that India exports electricity to Nepal.”
India has been trying to engage with its neighbours through participation in infrastructure projects.
Elizabeth Roche contributed to this story.
Source : Live Mint

SN Power, IBN holding second round of neogitation today

Tamakoshi SN Power, the Norwegian firm involved in the development of Tamakoshi III (650 MW) hydropower project, and Investment Board of Nepal (IBN) are holding second round of negotiation for project development agreement (PDA) on Thursday.
The first round of negotiation between the two parties had ended without any conclusion after the Norwegian firm sought sovereign guarantee for the project.“The meeting scheduled for Thursday will be focused more on market arrangement for power generated by the project,” a source privy to the issue told Republica on Wednesday.
The IBN, a high-level government agency formed to facilitate the implementation of large scale infrastructure projects on a fast track mode, has suggested to the SN Power to find market for power generated by the project on its own.
The source said officials of SN Power have already held talks with Nepal Electricity Authority (NEA), requesting the latter to purchase power generated by the project. “The NEA, however, has turned down their request,” the source added.
The PDA negotiation, which is supposed to scrutinize all the issues related to project development, is taking place based on the PDA template developed by the Herber Smith — an international legal advisory body based in London.
“This time also the IBN will suggest the officials of SN Power to find market for power on its own,” the source said.
Radesh Pant, CEO of IBN, will lead the government side in the meeting, while SN Power will be led by Dr Sandeep Shah, vice president and country director of SN Power and Stale Rustad, project director for Asia of SN Power.
The first meeting of PDA negotiation was held on May 27.
Baikuntha Aryal, joint secretary at the finance ministry, who is also a member in the government´s PDA negotiation team, declined to divulge details of the ongoing negotiation with SN Power, saying that he has signed a ´non-disclosure agreement´.
The IBN and SN Power had signed the PNA almost a month ago. The document abides the developer to complete PDA negotiation within 18 months of the signing of PNA.
The government had granted survey license of the project to the SN Power in 2007. It has already approved environment impact assessment (EIA) report of the project, which is estimated to cost Rs 120 billion, prepared by SN Power.
Source : Republica

Wednesday, June 26, 2013

Abu Dhabi Fund okays US$ 30m loan for Tanahun Hydropower Project

Abu-Dhabi-Fund-for-DevelopmentThe Abu Dhabi Fund for Development (ADFD) has endorsed a decision of its board of directors to provide US$ 30 million to Nepal for the development of 140 megawatts Tanahun Hydropower Project.
“We have received a letter from ADFD,” a high-ranking official at the Ministry of Finance (MoF) told Republica. “It formally notifies us that ADFD has decided to provide loan to us.” ADFD, a national entity of the United Arab Emirates, has sent a letter to the government notifying that it took the decision last week but it doesn´t indicate anything about interest rate and maturity period of the loan.
The government had sought loan from ADFD for the development of Tanahun Hydropower Project, the second reservoir type project after Kulekhani.
Confirming the developments, Madhu Kumar Marasini, joint secretary at MoF said that the ministry received a letter from ADFD last week. “However, meeting for further negotiations and signing of the loan agreement has not been fixed so far,” said Marasini. “The loan agreement will be signed after a detailed discussion on the terms and conditions between the two parties.”
The government has already received concessional loan from the Asian Development Bank (ADB), Japan International Cooperation Agency (JICA) and European Investment Bank (EIB) for development of the project that is expected to be completed by 2020.
The government has secured a total US$ 370 million from three development partners. According to the International Economic Cooperation Coordination Division at MoF, the government has received US$ 150 million loan from ADB, US$ 150 from JICA and US$ 70 million from EIB.
ADFD that has decided to provide loan to Nepal has not so far disclosed anything about the interest rate that it would charge on loans. “Interest rates and maturity period for loan will be negotiated later,” said Marasini.
ADB, which is a lead funding partner of the project, has already decided to provide loan to Nepal through its board of directors´ meeting in the last week of February.
“The project is too important to us,” said Marasini. “The government will do its best to complete the project on time.” The project based in Byas municipality of Tanahun district will be developed by Nepal Electricity Authority (NEA).
Additionally, the government has also decided to provide loan to NEA without charging any interest. The government expects to start the construction of the project by 2014.
Source : Republica

Water Politics

By: Ramaswamy R Iyer
Republished on Republica on June,23 ,2013
There is in Nepal a deep ambivalence about India, which many in India tend to misinterpret as anti-Indianism.
India-Nepal relations have been badly mismanaged on both sides. The time has come to make a break with the past and explore new beginnings. In his article in the issue of 15 September of The Hindu, Prof. S. D. Muni has already covered the larger aspects of strategic and security concerns. This article will focus on water relations, though some reference to the larger context cannot be avoided.
Let us first consider what went wrong in the past. The Kosi/Gandak agreements of the 1950s were not inspired by any large visions of ‘regional cooperation’; they were essentially projects conceived by India to meet its requirements or solve its problems, with some benefits to Nepal included. That was the way the projects were designed with Nepal’s agreement, but they were subsequently criticised in Nepal for conferring substantially more benefits on India than on Nepal, though this was inevitable given the relative magnitudes of cultivable areas in the two countries. The projects also suffered from poor design, inefficient implementation and bad maintenance (not to mention corruption); even what was promised was not delivered either in Nepal or in India. The Kosi/Gandak agreements, initially signed in 1954/1959, were amended in 1966/1964 to take care of Nepalese concerns, but the sense of grievance was not wholly removed.
Suspicion and mistrust
The bitterness generated by these experiences coloured all subsequent dealings between India and Nepal. Suspicion and mistrust grew and became a massive impediment to good relations between the two countries. The Tanakpur episode made it worse. Eventually, a new chapter in Indo-Nepal relations seemed to open with the Mahakali Treaty of February 1996. Unfortunately, that Treaty, signed after extensive consultations with a view to avoiding the mistakes of the past, has remained a dead letter, contributing to a worsening of India-Nepal relations rather than a dramatic improvement as had been hoped. The old acrimony has now been revived by the Kosi floods. An embankment in Nepal has failed, and there have been mutual recriminations between the two countries regarding the responsibility for that failure.
If a review of relations in this area were now undertaken, what expectations and concerns are the two countries likely to bring to the talks? Leaving aside strategic and security concerns, India perceives a huge hydro-electric potential in Nepal; and it also sees scope for irrigation and flood control in India from large projects in Nepal.
Nepal for its part is very conscious of being a land-locked country and would like to maintain and add to the numerous overland transit points, and to secure an outlet to the sea through India. It also dreams of generating large revenues from the export of electricity to India from a number of hydro-electric projects on the rivers of the Ganga system. At the same time, there is also some worry about large projects in the Himalayas and about an excessive dependence on India as the sole buyer of electricity.
The fact is that there is in Nepal a deep ambivalence about India, which many in India tend to misinterpret as anti-Indianism. On the one hand, Nepal sees the value of closer political and economic relations with India; on the other, there is a wariness about excessive closeness. There are visceral anxieties about Indian largeness and the unequal relationship that this might imply.
Two suggestions
Given those complexities, what kind of new relationship should the two countries aim at? As an Indian, this writer would not presume to advise Nepal. To the Government of India, he would respectfully venture to make two suggestions that might seem strange and defeatist:
(i) scrap the old Kosi and Gandak Agreements and the 1996 Treaty on the Mahakali, all of which are unpopular in Nepal; stop talking about Karnali, Pancheswar, Sapta Kosi, etc; do not try to enter into any more treaties on large projects on the Himalayan rivers; and
(ii) do not seek excessive closeness; let not Nepal feel threatened; aim at friendliness, correctness and a reasonable distance.
There are good reasons for those two sets of propositions. First, India has been talking to Nepal about Karnali, Pancheswar and Sapta Kosi for over three decades, perhaps four, with no results. The factors that have stalled these projects have not disappeared. Besides, whenever an agreement or treaty has been signed, it has done more harm than good to India-Nepal relations. If India enters into a new Treaty, say on Sapta Kosi, that Treaty will become the subject of a controversy before the ink on the signatures is dry. Wisdom would lie in not creating new opportunities for misunderstandings. In any case, Prime Minister Prachanda is unlikely to be eager to rush into any new Treaties with India.
Secondly, India does not really need these projects. There are alternatives in so far as energy and irrigation are concerned; in any case old-style canal irrigation needs a radical review; and the notion of ‘flood control’ is a fallacy. Those cryptic propositions cannot be elaborated here, but a few observations about projects in the Himalayan region may be in order.
Fallacious concept
The very concept of a huge hydro-electric potential in the Himalayan rivers is fallacious. There is no such natural potential in a running river; it exists only in a falling river, i.e., in a waterfall. In a running river the hydroelectric potential is not natural but manmade: it is created by a dam. At the same time the dam also creates a potential for ecological damage, human misery and possible disaster in the event of heavy floods. The dangers are particularly acute in the Himalayan region, given the friability and proneness to mass-wasting of the mountains, the huge load of sediment that the rivers carry and the added danger of seismic activity. While the project-planners might claim that they have answers for all these problems, the Precautionary Principle would suggest that we leave the Himalayan rivers alone.
Finally, Nepal has felt smothered by excessive closeness: let us try distance for a change. It may pave the way for a new and better closeness in due course.
Source : From The Hindu, September 17,2008 (Republished on Republica June 23,2013)

नविकरणीय उर्जा विकासमा जर्मनद्धारा पौने २ अर्ब सहयोग

Solar-panal-1युरोपियन मुलुक जर्मनीले नेपाललाई १ अर्ब ७५ करोड रुपैयाँ अनुदान उपलब्ध गराउने भएको छ । नेपालको ऊर्जा क्षमता तथा नवीकरणीय ऊर्जा कार्यक्रम कार्यान्वयन गर्न जर्मनीले उक्त सहयोग उपलब्ध गराउने भएको हो । शुक्रबार अर्थमन्त्रालयमा आयोजित एक कार्यक्रममा जर्मनीले सहयोग उपलब्ध गराउने सम्झौता गरेको छ । सम्झौतापत्रमा जर्मनी राजदूत फ्रयाङ्क माइकी र मन्त्रालयका सहसचिव मधुकुमार मरासिनीले हस्ताक्षर गर्नुभयो ।
सम्भौतपछि राजदूत माइकीले नेपालको आर्थिक-सामाजिक विकासमा सहयोग गर्न जर्मन प्रतिबद्ध रहेको बताउनुभयो । उहाँले संविधानसभाको निर्वाचनपछि द्विपक्षीय सहायता थप विस्तार हुने आश्वासन समेत दिनुभयो । नेपालको आर्थिक विकास ऊर्जा क्षेत्रको विकासमा अडिएको बताउँदै उहाँले उर्जा क्षेत्रको विकासलाई जर्मनीले उच्च्ा प्राथमिकता दिएको बताउनुभयो । सहसचिव मरासिनीले जर्मन सहयोगको खुलेर प्रशंसा गर्नुभयो । उहाँले नेपालको विकासमा जर्मनले थप सहयोग गर्ने अपेक्षा समेत व्यक्त गर्नुभयो ।
सहयोग रकम ग्रामीण क्षेत्रमा सौर्य प्यानल एवम् पानी नाप्ने पम्प जडान र त्रिशूली करिडरमा प्रसारण लाइन विस्तार लगाएतका कार्यक्रममा खर्च गरिने छ । उक्त कार्यक्रम विज्ञान, प्रविधि तथा वातावरण मन्त्रालय र वैकल्पिक ऊर्जा प्रवर्द्धन केन्द्रले संचालन गर्दै आएको छ ।
@ Online Khabar

करको मारमा जलविद्युत्् क्षेत्र

Ministry of Financeजलविद्युत््मा लगानी प्रोत्साहन गर्ने सरकारको नीति रहे पनि यस क्षेत्रमा लगाइएको करले लगानी प्रोत्साहित हुनुभन्दा हतोत्साहित गरिरहेको छ । करका कारण लगानीकर्ता हतोत्साहित भएका छन् भने निर्माण भएका आयोजनाबाट उत्पादित बिजुली पनि महँगो परिरहेको छ ।
क्षमता तथा इनर्जी रोयल्टी सरकारलाई बुझाउँदै आएका जलविद्युत् कम्पनीलाई वन मन्त्रालयले पछिल्लो समय वातावरणीय सेवाशुल्क (पेस) लगाएको छ । यसैगरी, स्थानीय निकायले आयोजना निर्माणका क्रममा प्रयोग हुने ढुंगा–बालुवामा कर उठाइरहेका छन् ।
खरिदमूल्य महँगो पर्दा उपभोक्ताले प्रयोग गर्ने बिजुली महसुल महँगो बन्दै गएको छ । विद्युत् खरिद सम्झौता (पिपिए) को दर नबढ्ने, तर राज्यका विभिन्न निकायले कर लिँदा जलविद्युत्मा लगानी निरुत्साहित भइरहेको छ ।
निर्माण सम्पन्न भएका जलविद्युत् आयोजनाले २ प्रतिशत ऊर्जा र प्रतिकिलोवाट  १ सय रुपैयाँ ऊर्जा रोयल्टी तिर्नुपर्ने कानुनी व्यवस्था छ । जलविद्युत्््् आयोजनाले खुद मुनाफाको बढीमा एक प्रतिशत वातावरणीय सेवाशुल्क तिर्नुपर्ने व्यवस्था छ । वन मन्त्रालयले कानुनी आधारविना वातावरणीय सेवाशुल्क लिइरहेको छ ।
विद्युत् विकास विभागका महानिर्देशक अनुपकुमार उपाध्यायले सरकारी निकायले नै स्वेच्छाचारी रूपमा कर लिन थालेको बताए । ‘जसलाई पैसा चाहियो, उसैले रकम उठाइरहेका छन् । यसले जलविद्युत् आयोजनाबाट उत्पादित बिजुली महँगो बनाइरहेको छ भने लगानीकर्तालाई पनि हतोत्साहित बनाएको छ,’ महानिर्देशक उपाध्यायले भने ।
उनले लगानीकर्ताले प्राकृतिक स्रोत प्रयोग गरेबापत रोयल्टी तिर्ने हुँदा अन्य शुल्क लगाउनु गलत भएको बताए । ‘प्राकृतिक स्रोत प्रयोग गरेबापत रोयल्टी तिरिसकेपछि वातावरणीय सेवाशुल्क र ढुंगा–बालुवा प्रयोग गर्दा किन कर लिनुपर्‍यो ?’ उपाध्यायले भने ।
उनले विभिन्न सरकारी कार्यालयले छुट्टाछुट्टै शुल्क लिनेभन्दा पनि रोयल्टीबापत प्राप्त हुने रकम बाँडफाँटको व्यवस्था गरिनुपर्ने बताए । जलविद्युत् क्षेत्रबाट प्राप्त हुने रोयल्टीमध्ये ५० प्रतिशत राज्यको कोषमा जम्मा हुन्छ भने ५० प्रतिशत आयोजना रहेको विकास क्षेत्रका जिल्लालाई वितरण गरिन्छ ।
प्रभावित जिल्लामा जानुपर्ने रकम आयोजना पर्ने विकास क्षेत्रका सबै जिल्लालाई वितरण गर्न नहुने आवाज उठ्दै आएको छ । गत आर्थिक वर्ष ०६८/६९ मा सरकारले जलविद्युत् रोयल्टीबापत २ अर्ब ५३ करोड ९५ लाख रुपैयाँ वितरण गरेको थियो । त्यसमध्ये ३९ करोड रुपैयाँ जिल्ला विकास समितिलाई वितरण गरिएको विद्युत् विकास विभागले जनाएको छ ।
निजी क्षेत्रका ऊर्जा उत्पादकको संस्था (इपान)का अध्यक्ष डा. सुवर्णदास श्रेष्ठले राज्यका हरेक निकायले एकद्वार प्रणालीमार्फत कर लिई त्यसलाई बाँडफाँडको व्यवस्था गरिनुपर्ने बताए ।
‘हरेक सरकारी निकायले छुट्टाछुट्टै कर लिइरहेका छन् । रोयल्टी र अन्य कर तिर्नुपर्ने तर पिपिए दर नबढे जलविद्युत्मा लगानी कसरी आउँछ ? अरू कर नलिएर रोयल्टीबापत प्राप्त रकमलाई बाँडफाँट गरिदिनुपर्छ,’ श्रेष्ठले भने ।
सरकारले जलविद्युत् क्षेत्रमा लगानी आकर्षित गर्न ०७५ सम्मका निर्माण भइसक्ने आयोजनालाई आयकरमा छुट दिएको छ । बिजुली उत्पादन सुरु भएको १० वर्षसम्म आयकर पूर्ण छुट र बाँकी पाँच वर्ष आधा छुट व्यवस्था गरिएको छ ।
आयकरमा छुट दिइए पनि अन्य कर, सरकारी निकायबाट निर्णय प्रक्रियामा हुने ढिलाइलगायत कारणले जलविद्युत्मा लगानी आकर्षित नभएको लगानीकर्ताले बताउँदै आएका छन् ।
वन मन्त्रालयले पिपिए र ऋण सम्झौता भइसकेका आयोजनालाई पनि १ प्रतिशतसम्म वातावरणीय शुल्क लगाउँदा त्यस्ता आयोजना समस्यामा परेका छन् । पिपिए र ऋण सम्झौता भइसकेको अवस्थामा १ प्रतिशत शुल्क लगाउँदा प्रतिफल प्रभावित भई आयोजना लगानीयोग्य नहुने लगानीकर्ताले बताउँदै आएका छन् ।
सरकारले जलविद्युत्््् आयोजनाले खुद मुनाफाको अधिकतम ५ प्रतिशतसम्म वातावरणीय सेवाशुल्कबापत तिर्नुपर्ने व्यवस्था संशोधन गरी बढीमा १ प्रतिशत मात्रै तिर्नुपर्ने नयाँ प्रावधान राखेपछि लगानीकर्ताले त्यसलाई खारेजी गर्नुपर्ने माग राख्दै आएका छन् ।
प्रस्तुति:सचेन गौतम/नयाँ पत्रिका

Billions can be invested by public on hydropower

” Banks, financial institutions also have adequate resources ”

hydro_artWhen Mega Bank issued primary shares worth Rs 699 million recently, it received applications for over 20 times more at Rs 14.20 billion. Applications of Rs 6.60 billion were received earlier when Commerce and Trust Bank offered shares worth Rs 600 million. Similarly, Civil Bank had received applications of Rs 4 billion for Rs 800 million of shares and Janta Bank Rs 1.80 billion for Rs 600 million.
If the general public were to show the same enthusiasm that they showed when four commercial banks issued shares in the current fiscal year to invest in hydropower sector, the country will produce enough electricity at least to meet domestic demands. “Adequate investment can be attracted toward hydropower sector if the general public were convinced that the sector is also attractive for investment like the banks and financial institutions are,” Chief Executive Officer (CEO) of the Hydroelectricity Investment and Development Company Limited (HIDCL) Dipak Rauniyar states. “Upper Tamakoshi (456 MW) and the four projects worth 270 MW being developed by Chilime Hydropower Company Limited are the examples,” he adds.
The Employees Provident Fund (EPF), the Citizen Investment Trust (CIT), the Rastriya Beema Sansthan (RBS), the Nepal Telecom (NT) and the government has collectively invested Rs 35 billion in Upper Tamakoshi. Similarly, Rasuwagadi (111 MW), Mid Bhotekoshi (102 MW), Upper Sanjen (14 MW) and Sanjen (42 MW) are also being built with domestic investment. EPF has invested Rs 16 billion in these four projects while the rest is expected to be raised from the affected locals and the general public. Rauniyar argues that investment of the general public could not be attracted toward hydropower sector as good projects are not selected and the people are not aware about the profitability of investment in the sector. “There are grounds to believe that enough capital can be generated from the general public, banks and financial institutions and institutional investors for big projects,” he claims.
The fact that so many people apply to invest in banks and financial institutions show their eagerness to invest. Experts believe that it is possible to attract investment toward hydropower sector if it were regulated like the banks and financial institutions, and the hydropower companies were also transparent. Rauniyar, reminding that Chilime, Butwal Power and Arun Valley Hydropwoer Company Limited provided good returns to the investors, opines that the projects that can give returns have to be selected. “Why should good hydropower projects not attract applications when over 20 times of applications are received for shares of a commercial bank?” he asks.
He claims that enough capital can be generated through the banks and financial institutions, insurance companies, EPF, CIT, RBS, NT and the general public. The welfare funds of the Nepal Army, the Nepal Police and the Armed Police Force (APF), Social security Fund, HIDCL and non-resident Nepalis can also invest billions of rupees, he feels. He says the banks and financial institutions can invest Rs 50 billion in the present situation. But they have invested just Rs 17 billion, according to NRB.
Share analyst Rabindra Bhattarai also feels that there is sufficient capital in the country to build hydropower projects. “It is not that foreign capital is not needed but domestic investment can help attract more foreign investment,” he states. “The general public should also be attracted to the hydropower sector, and not just the banks and a handful of investors, and made richer,” he adds. Referring to the policy of providing 10 percent shares to the locals adopted by Upper Tamakoshi, he says the provision should be made mandatory for all projects. He states that the sector has not received investment from the general public as they have not been explained that the sector can also provide adequate returns. “The returns of investors in banks are less as the banks have to pay 30 percent tax on their income. Hydropower is the only sector where the government has announced tax exemption for 15 years and it can, therefore, provide more returns,” he explains.
He insists that billions of rupees can be raised to construct big projects through banks, promoters and the general public. He argues that transactions amount can be increased and investment also diversified if the share of productive sector is increased in the Nepal Stock Exchange (Nepse) that is dominated by the banks and financial institutions. Stating that there is provision of generating capital from the general public one year after the construction of project starts, he informed that Sanimamai Hydropower is collecting capital using the provision. Hydropower entrepreneur Guru Prasad Neupane said that many projects are not financially viable in lack of physical infrastructures like transmission line. “The current problem is not investment but that of transmission line. Enough investment can be attracted to the hydropower sector if the problem is addressed,” he stated.
But there has been lack of trust among the general public as a few hydropower companies have not provided good returns to the general public despite issuing shares to the public. The stakeholders feel that proper monitoring is required to address the issue. Economist Keshav Acharya believes that productive sector like hydropower has not been able to attract investment from the general public as the banks and financial institutions have, due to lack of transparency. “A regulatory authority is necessary to make the hydropower sector transparent. The general public has come forward with trust to invest in shares of the banks and financial institutions as they are more transparent,” he opines. Stating that there is no problem of capital in the country he stressed that the trust of the general public has to be won first. “Investment will pour in after that.”
Source : Karobar

” बैंक तथा वित्तीय संस्थासँग पनि पर्याप्त स्रोत ”

बाबुराम खड्का
काठमाडौं, ५ असार- मेगा बैंकले हालै ६९ करोड ९० लाख रुपैयाँबराबरको साधारण सेयर निष्कासन गर्दा सर्वसाधारणबाट २२ गुणा बढी १४ अर्ब २० करोडको आवेदन प¥यो । त्यसअघि कर्मज एन्ड ट्रस्ट बैंकको ६० करोड रुपैयाँको सेयरका लागि ६ अर्ब ६० करोडको आवेदन परेको थियो । त्यस्तै, सिभिल बैंकले ८० करोडको साधारण सेयर निष्कासन गर्दा ४ अर्ब र जनता बैंकको ६० करोड रुपैयाँको सेयरका लागि १ अर्ब ८० करोड रुपैयाँका निवेदन परे ।
चालू आवमा चारवटा वाणिज्य बैंकले सेयर निष्कासन गर्दा सर्वसाधारणले देखाएको उत्साहलाई जलविद्युत्को क्षेत्रमा पनि कायम गर्नसके कम्तीमा स्वदेशी माग आपूर्ति गर्ने गरी बिजुली उत्पादन गर्न सकिने देखिन्छ । “सर्वसाधारणलाई बैंक तथा वित्तीय संस्थामात्र हैन, अब जलविद्युत् पनि आकर्षक लगानीको क्षेत्र हो भन्ने चेतना जगाए यसमा पर्याप्त लगानी आउनसक्छ,” जलविद्युत् लगानी तथा विकास कम्पनी लिमिटेडका प्रमुख कार्यकारी अधिकृत (सीईओ) दीपक रौनियार भन्छन्, “माथिल्लो तामाकोसी (४५६ मेगावाट) र चिलिमे जलविद्युत् कम्पनी लिमिटेडले निर्माण गर्न लागेको २ सय ७० मेगावाट क्षमताका चार आयोजना यसका उदाहरण हुन् ।”
तामाकोसीमा कर्मचारी सञ्चयकोष, नागरिक लगानी कोष, राष्ट्रिय बिमा संस्थान, नेपाल टेलिकम र सरकारले ३५ अर्ब रुपैयाँ सामूहिक लगानी गरेका छन् । त्यस्तै, चिलिमेले निर्माण गर्न लागेको रसुवागढी (१११ मेगावाट), मध्य भोटेकोसी (१०२ मेगावाट), माथिल्लो सान्जेन (१४ मेगावाट) र सान्जेन (४२ मेगावाट) आयोजना पनि स्वदेशी लगानीबाट बन्दैछन् । यी आयोजनामा कर्मचारी सञ्चयकोषले १६ अर्ब लगानी गरेको छ भने बाँकी १६ अर्ब प्रभावित स्थानीय र सर्वसाधारणबाट जुटाउने तयारी छ ।
राम्रो आयोजना छनोट नगर्नु र यसबारे जानकारी गराउन नसक्दा नै सर्वसाधारणको लगानी यसतर्फ आउन नसकेको तर्क रौनियारको छ । “ठूला आयोजनामा सर्वसाधारण, बैंक तथा वित्तीय संस्था र संस्थागत लगानीकर्ताबाट पर्याप्त पुँजी उठाउन सकिने अवस्था भने देखिएको छ,” उनले भने ।
बैंक तथा वित्तीय संस्थामा लगानी गर्न आवेदन दिनेहरू उही व्यक्ति भए पनि त्यसले लगानीप्रतिको चासो देखाउँछ । तर, बैंकिङ संस्थाजस्तै नियमन हुने र जलविद्युत् कम्पनी पनि परदर्शी हुने हो भने यो असम्भव नरहेको विज्ञहरू बताउँछन् ।
चिलिमे, बुटवल पावर र अरुणभ्याली हाइड्रोपावर कम्पनी लिमिटेडले लगानीकर्तालाई राम्रो प्रतिफल दिएको बताउँदै रौनियारले प्रतिफल दिने आयोजना छनोट गर्नुपर्ने सुझाए । “बैंकको साधारण सेयर निष्कासन गर्दा २२ गुणासम्म आवेदन पर्छ भने राम्रो जलविद्युत् आयोजनामा किन नपर्ने ?” उनको प्रश्न छ ।
उनले नेपालमा बैंक तथा वित्तीय संस्था, बिमा कम्पनी, सञ्चयकोष, नागरिक लगानी कोष, राष्ट्रिय बिमा संस्थान र नेपाल टेलिकमका साथै सर्वसाधारणबाट पर्याप्त लगानी जुटाउन सकिने बताए । नेपाली सेना, नेपाल प्रहरी र सशस्त्र प्रहरीका कल्याणकारी कोष, सामाजिक सुरक्षा कोष, जलविद्युत् लगानी तथा विकास कम्पनीका साथै गैरआवासीय नेपालीबाट ठूला आयोजनामा अर्बौं रुपैयाँ लगानी हुनसक्ने उनी देख्छन् ।
त्यसबाहेक मुलुकका बैंक र वित्तीय संस्थाबाट अहिलेकै अवस्थामा ५० अर्ब रुपैयाँ लगानी हुनसक्ने देखिन्छ । हालसम्म बैंक तथा वित्तीय संस्थाले जलविद्युत्मा १७ अर्ब रुपैयाँ लगानी गरेको राष्ट्र बैंकको तथ्यांक छ ।
विद्युत् आयोजना बनाउन स्वदेशमा पर्याप्त पुँजी रहेको सेयर विश्लेषक रवीन्द्र भट्टराई पनि बताउँछन् । “विदेशी पुँजी नचाहिने भन्ने होइन तर स्वदेशभित्रैबाट हुने लगानीले विदेशी लगानी आकर्षित गर्न सहयोग पुग्छ,” उनी भन्छन्, “अब जलविद्युत्मा बैंक र केही लगानीकर्तामात्र होइन, सर्वसाधारणलाई पनि अनिवार्य सहभागी गराएर उनीहरूलाई पनि धनी बनाउनुपर्छ ।”
माथिल्लो तामाकोसी आयोजनाले स्थानीयलाई १० प्रतिशत सेयर दिनुपर्ने नीति कार्यान्वयन गरेको भन्दै उनले सबै आयोजनामा यो व्यवस्था अनिवार्य गराउनुपर्ने बताए । सर्वसाधारणलाई जलविद्युत्बाट पर्याप्त प्रतिफल आउन सक्छ भन्ने कुरा बुझाउन नसक्दा यो क्षेत्रमा उनीहरूको लगानी आउन नसकेको भट्टराईको भनाइ छ ।
“बैंकले १ अर्ब रुपैयाँ कमायो भने उसले ३० प्रतिशत अर्थात् ३० करोड रुपैयाँ कर तिर्नुपर्छ, जसले गर्दा लगानीकर्ताको प्रतिफल घट्छ,” भट्टराईले भने, “जलविद्युत् एकमात्र यस्तो क्षेत्र हो, जसलाई सरकारले  १५ वर्षसम्म कर छुट दिएको छ, कम्पनीले १ अर्ब आम्दानी गरे त्यो पूरै लगानीकर्तालाई बाँड्न सकिन्छ, त्यसैले बैंकभन्दा जलविद्युत् कम्पनीले बढी प्रतिफल दिन्छन् ।”
बैंक, प्रवद्र्धक र सर्वसाधारणको त्रिकोणात्मक लगानीबाट ठूला आयोजना बनाउन अर्बौं रुपैयाँ लगानी जुट्नसक्ने भट्टराईको तर्क छ । नेपाल स्टक एक्सचेन्ज (नेप्से)मा बैंक तथा वित्तीय संस्थाको मात्र वर्चस्व रहेको अवस्थामा उत्पादनमूलक कम्पनीका क्षेत्र बढाए कारोबार पनि बढ्ने र लगानी विविधीकरण पनि हुने उनको तर्क छ । जलविद्युत् आयोजना निर्माण सुरु भएको एक वर्षपछि सार्वसाधारणबाट लगानी उठाउन पाइने प्रावधान रहेको भन्दै उनले सानिमामाई हाइड्रोपावरले त्यही प्रावधानअनुसार सर्वसाधारणबाट लगानी जुटाइरहेको जानकारी दिए ।
जलविद्युत् उद्यमी गुरुप्रसाद न्यौपाने भने प्रसारणलाइनजस्ता आधारभूत पूर्वाधार विकास नभएकाले धेरै आयोजना आर्थिक रूपमा सम्भाव्य नभएको बताउँछन् । “अहिलेको समस्या लगानीको भन्दा पनि प्रसारणलाइनको छ,” उनी भन्छन्, “यो समस्या सम्बोधन गर्न सके जलविद्युत्मा पर्याप्त लगानी आउने अवस्था छ ।”
तर, केही जलविद्युत् कम्पनीले सर्वसाधारणका लागि सेयर जारी गरे पनि प्रतिफल राम्रो नदिँदा विश्वास आर्जनमा समस्या नभएको भने होइन । यसका लागि उचित अनुमगन आवश्यक पर्ने सुझाव सरोकारवालाको छ ।
बैंक तथा वित्तीय संस्थाजस्तै जलविद्युत्लगायत अन्य उत्पादनमूलक क्षेत्र पारदर्शी नभएका कारण सार्वसाधारणको लगानी आउन नसकेको अर्थशास्त्री केशव आचार्य बताउँछन् । “जलविद्युत् क्षेत्रलाई बढी पारदर्शी बनाउन नियामक निकाय आवश्यक छ,” उनी भन्छन्, “बैंक तथा वित्तीय क्षेत्र बढी पारदर्शी भएका कारण विश्वास बढेर सर्वसाधारण सेयरमा लगानी गर्न अगाडि आएका हुन् ।”
नेपालमा पुँजीको समस्या नभएको बताउँदै आचार्यले पहिले सर्वसाधारणको विश्वास जित्नु सक्नुपर्ने बताए । “अनि त्यसपछि यो क्षेत्रमा लगानी ओइरिन्छ,” उनले भने ।