Minister for Energy, Water Resources and Irrigation Shakti Bahadur Basnet has said that Nepal has reached the stage of making profit from power export.

Addressing a gathering of the Socialist Front Nepal at Beni of Myagdi on Saturday, Minister Basnet stated that Nepal would become a net power exporter nation within two years.

In the last fiscal year, Nepal exported power worth Rs 10 billion and imported power worth Rs 20 billion but Nepal will make income from power export this year, Minister Basnet added.

"So far, power worth Rs 14 billion has been exported this year. We have planned to export electricity worth Rs 18 billion by the end of this fiscal year," according to the Energy Ministry.

He shared that the amount for power import to the country could reach as high as Rs 12 billion this year.

Likewise, Minister Basnet pledged to ensure general share of Rahughat Hydropower Project to the local people.

On the occasion, he said that the country's economy has improved as compared to the time of this government's formation and added that the government is focused on trade deficit reduction, controlling inflation and employment generation.

Minister Basnet, who is also the assistant general secretary of CPN (Maoist Centre), argued that the political parties in the Front would play constructive roles for the establishment of socialism in the country.