A delegation of Confederation of Nepalese Industries (CNI) met with Minister for Energy, Water Resources and Irrigation Shakti Bahadur Basent and urged to open the power purchase agreement (PPA) of hydropower projects immediately.

The delegation led by president of CNI Rajesh Kumar Agrawal met the Minister at the ministry and discussed various issues of the country’s economy, including hydropower sector, Friday.

According to a press statement of the CNI, President Agrawal asked to open the PPA of hydropower projects.

During the Prime Minister’s recent visit to India, India agreed to purchase 10,000 megawatts of electricity in 10 years, so the PPA of hydropower projects should be fully opened and an environment for construction should be created, he said.

He urged to restructure the Nepal Electricity Authority, build transmission lines and involve the private sector in electricity trading.

He said that even as electricity is being exported, the domestic industries are not getting electricity easily. Due to this, the cost of production of industries has increased, he said.

Agrawal stressed on effective implementation of the budget to boost the sluggish economy. Rs. 2,000 billion required to generate 10,000 MW.

On the occasion, Minister Basnet said that he was committed to move forward by cooperating with the private sector for the overall development of energy sector.

He said that to produce 10,000 megawatts at the current cost, an investment equal to Rs. 2,000 billion was needed and it would have a far-reaching impact on the economy.

He said that the ministry was preparing to move forward by declaring ‘Energy Decade’ for the development of the overall energy sector.