President of Nepali Congress and Former Prime Minister Sher Bahadur Deuba has said that a conducive environment should be created for domestic and foreign investors to invest in Nepal with confidence.

Addressing the 23rd annual general meeting of Independent Power Producers' Association, Nepal (IPPAN) on Tuesday, he said investment friendly environment should be created for anyone who comes for investment to invest in an easy and simple way.

Highlighting the contribution of private sector in hydropower development in the country, he said that the government cannot think of causing trouble to investors and suggested the government to facilitate private sector in energy development.

Former Prime Minister Deuba said that the government is responsible for increasing consumption and trading the electricity produced.

He said that it is necessary to involve the private sector for this.

Deuba said that he had heard that the IPO issuance of hydropower projects had been stopped, which was incorrect, and that the Securities Board of Nepal would soon give permission for the issuance of shares.

Stating that energy is an asset given by nature in Nepal, he stressed on the need of maximum utilisation of it timely. Former Prime Minister Deuba also urged for more emphasis on green energy.

President Deuba said that the country's achievements in economic and social development are due to the liberal privatisation policy pursued by the country. He said that the weaknesses encountered during its implementation should be eliminated and the private sector should be further encouraged.

Stating that it is a matter of happiness that production from the private sector is increasing, he informed that there is no load shedding in the country today. He said that the weaknesses encountered during its implementation should be eliminated and the private sector should be further encouraged.

Stating that it is a matter of happiness that production from the private sector is increasing, Deuba said that there is no load shedding in the country today. On the occasion, Minister for Energy, Water Resources and Irrigation Dipak Khadka said that the government is firmly committed to moving Nepal's energy sector forward on the path of sustainable development.

He said that work has been progressing as per the action plan with the target of generating 28,500 megawatts of electricity in the next 10 years. Stating that the role of the private sector in the energy sector is important, Minister Khadka clarified that the government has no hesitation in making the private sector a partner by creating a safe investment environment. "The government cannot invest alone, the participation of the private sector is necessary," he said.

Minister Khadka has urged people not to panic over the introduction of energy-related bills. He said that it is wrong to say that the law should not be brought, and that the law can be amended and revised in the interest of the country. Admitting that there is a problem with RCOD, he said that a committee has been formed for that purpose and the Required Commercial Operation Date (RCOD) will be extended after looking at the status of the project.

Former Minister Janardan Sharma urged the government to end the trend of putting river licenses in the pockets of one person.

He said that there was a situation that one person is holding licenses in pocket for years, other people who want to develop hydropower projects are not getting the projects. He said that if the energy sector is not developed, not only will the investment of the Nepali people sink, but prosperity of the country will also not be fulfilled.

"Today, there is a situation where dozens of projects are registered in the name of a particular company or individual and they are not investing. A separate policy should be brought to end this situation," said Sharma.

Sharma said that the country will not become prosperous by selling electricity, but only by consuming electricity.

Agni Prasad Kharel, Human Rights and Transitional Justice Advisor to the Prime Minister, stressed on the need of promoting three key sectors—agriculture, tourism and hydropower - for country's economic development.

Stating that proposed Electricity Bill is regressive and it will not support domestic hydropower producers, he said that either it should introduce with amendment or stopped to encourage domestic investors in hydropower development.

Minster for Forest and Environment Ain Bahadur Shahi Thakuri said that the ministry has been facilitating for resolving the problems seen in forest for development activities.

IPPAN President Ganesh Karki said that the government's policy and approach will be decisive for facilitating private sector for country's development. “For development, there should be 'driving by private sector, backing by government, but in practice, the private sector is being displaced due to government agencies," he said.

Stating that the government advanced energy development roadmap with the target of generating additional 25,000 MW by 2035, he said that the government should to open Power Purchase Agreement (PPAs) for hydropower to achieve such target.

He also urged the government to allow the private sector in electricity trading and transmission lines construction as well. Karki said that policy decisions such as the 'take and pay' system included in the budget, the initial public offering (IPO) process that has been stalled for two years, and the ban on project construction in national park areas have put billions of rupees of private sector investment at risk.

According to him, currently the private sector is advancing 725 energy projects with a capacity of 34,484 megawatts in various stages.