Prime Minister Pushpa Kamal Dahal 'Prachanda' has asked the private sector to invest in the country's hydropower sector with confidence stating that an agreement has been signed with India to export 10,000 megawatts of power from Nepal in a decade.

Addressing the 22nd annual general assembly of Independent Power Producers' Association, Nepal (IPPAN) here today, the PM said the moment to export 10,000 megawatts of power will be a historical achievement for the country's journey to prosperity.

"We have signed the long-term agreement with neighbouring country India for the export of 10,000 megawatts of electricity in 10 years. Likewise, power trade will be done with Bangladesh via India's transmission line. Such an important opportunity to sign the deal is created during my premiership.

This is a historic success in terms of commitment to prosperity journey and campaign not only in the area of Nepal's hydroelectricity sector," the PM stated.

The PM also expressed confidence that an agreement will be signed even with Bangladesh soon to export Nepal's electricity.

On the occasion, the PM shared that the government was promoting different programmes to increase power consumption in the domestic market besides the power export.

He said the government is considering to promote electric vehicles and appliances to reduce the import of petroleum products and increase the domestic consumption of electricity.

In his speech, the PM viewed electricity is the most important sector for the country's development and prosperity, and appreciated the role of the private sector in scaling up power production.