IBN decides to prioritize and update projects

Kathmandu: The Investment Board Nepal meeting on Wednesday decided to prioritise projects and implement them with an updated list.

The 62nd meeting held under the chairmanship of Prime Minister KP Sharma Oli at the Office of the Prime Minister and Council of Ministers, Singha Durbar, also formed a Public-Private Partnership Project Prioritisation Committee to prepare and submit a list of projects to the Board for investment during the Investment Summit held in April 2024.

The Committee is led by Deputy Prime Minister and Finance Minister Bishnu Prasad Poudel.

The meeting has directed the IBN office to formulate and submit the necessary procedures to ensure uniformity in the implementation of public-private partnership and private investment projects by the Government of Nepal, provincial governments and local levels or subordinate public bodies in accordance with the Public-Private Partnership and Investment Act, 2075 BS.

The meeting also acquired information on the issues agreed upon with the developer under the project development agreement of China-Nepal Friendship Industrial Park, Damak and directed to finalize the remaining issues through discussions and coordination with the concerned bodies, according to the Board’s spokesperson and joint secretary Pradhumna Prasad Upadhyay.

Similarly, the meeting has decided to extend the period of the survey permit for the detailed project report and environmental assessment study of the Seti River-6 semi-reservoir project (450 MW) for one year.

The meeting has recommended to the Government of Nepal to include various issues related to the Investment Board in the budget statement as per the policies and programs of the Government of Nepal for the fiscal year 2025/26.