Prime Minister Pushpa Kamal Dahal 'Prachanda' has said there will be a trilateral agreement between Nepal, India and Bangladesh adding that Nepal would export 40 megawatts of electricity to Bangladesh from this fiscal year itself.

Inaugurating the Marsyangdi-Kathmandu 220 KV double circuit transmission line and 220 KV Matatirtha sub-station here Sunday, PM Prachanda said the long-term power trade agreement inked with India during his official visit had ensured the market for Nepal's hydroelectricity.

Prachanda asserted, "An agreement has been signed to give a final touch to the initial understanding. I am confident that this could be another important and historic step for the development of Nepal's electricity and to ensure the market."

Stating that the trilateral agreement would be inked between Nepal, India and Bangladesh very soon, he observed that the agreement would help expand Nepal's electricity market.

Furthermore, he shared that a consensus was forged with China to build the Chilime-Kerung transmission line to establish power trade's access to northern neighbour and for this, according to him, both countries' respective mechanisms were taking the needed actions.

Speaking of the need to continue with the developmental works, the Head of the Government viewed, "The development works should not be stopped under any pretext. Important decisions should be made to accelerate programmes and projects maintaining a balance between development and environment."

On the occasion, he urged the concerned sides to be more practical than an obstruction to the development works.

Moreover, the PM informed that mega reservoir-based hydropower projects would be constructed to remove the seasonal imbalance witnessed in the electricity system.

According to him, the construction process of the 1,200 megawatts Budhi Gandaki reservoir-based hydropower project, 1,063 megawatts Upper Arun semi-reservoir based hydropower project and 670 megawatts Dudhkoshi reservoir-based hydropower project have been expedited.

PM Prachanda divulged that the financial management of the World Bank led-1,063 megawatts Upper Arun and Asian Development Bank led-670 megawatts Dudhkoshi reservoir-based hydropower project have reached the stage of completion.

Similarly, a feasibility study of the Karnali Chisapani 10,800 megawatts project which is of regional and national importance and bearing the potential to transform the country in the long term, has been taken forward through the Nepal Electricity Authority, he said.

According to him, the incumbent government has put in place an action plan to increase domestic consumption of electricity produced within the country. He expressed his confidence that the action plan could offer guidelines to increase domestic consumption of domestically generated electricity.

He stated that around 98 per cent of the country's population has access to electricity. Preparations have been made to announce complete electrification in the country within one and a half years.

"It is a historic achievement that the basis to ensure cent percent electrification has been ready. It is a major milestone in Nepal's development."

The newly inaugurated transmission lines are built to transmit electricity generated from the hydropower projects constructed along the Marsyangdi river corridor and upcoming hydropower projects to be built in this area to the Kathmandu valley.

The newly inaugurated projects are expected to cater to the needs of the Kathmandu Valley's residents for an adequate, reliable, quality and safe supply of electricity. Also, these transmission lines are expected to significantly contribute to further strengthening the integrated electricity system of the country.