Hydropower sector incurred losses amounting to Rs 8.4 billion in flooding and landslides in Eastern districts on June 16-17.

The flooding and landslips swept away power plants in Taplejung, Sankhuwasabha, Panchthar and Bhojpur district causing the losses. Representatives of the Independent Power Producers' Association, Nepal (IPPAN) today met with Prime Minister Pushpa Kamal Dahal 'Prachanda' and shared this.

On the occasion, IPPAN President Ganesh Karki said 13 operating hydropower projects, and 17 under construction have been damaged in the disaster, resulting in a halt to the production of 133 megawatts electricity. As a result, 2 million local people and investors have been affected, he said.

The IPPAN urged the PM to manage for the Nepal Rastra Bank to provide refinancing facility to reconstruct the damaged projects, the extension of the production date by two years, waiving royalties until the damaged project reproduce electricity and exempting taxes and customs on the import of equipment for reconstructing the damaged projects.

Similarly, their other demands were the extension of the period of the power generation licence for the damaged hydropower projects to 50 years, and the re-scheduling of loan taken for reconstructing them to 20 years.

They also took the agreement struck during the PM's recent visit to India for Nepal to export 10,000 megawatts electricity in a period of 10 years positively. In return, PM Prachanda said he was serious about resolving problems raised by the IPPAN.

"You have raised serious and relevant issues. The government will work together with the concerned sector to resolve them," he said.

He also congratulated and offered his best wishes to the newly elected executive committee of the IPPAN.