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‘PTA, PDA signed to attract FDI’

KATHMANDU: Finance Minister Dr. Ram Sharan Mahat on Sunday said that the government had signed Project Development Agreement (PDA) with the promoter of the 900 MW Upper Karnali Hydropower Project and Power Trade Agreement with India for attracting foreign direct investment (FDI) in Nepal and increasing the income level of the people in the country.
Finance Minister Dr. Mahat made these remarks while Inaugurating the Small Farmers Tea Industry in Prithvinagar of Jhapa.
“Nepal will join the economic development campaign with the rest of the world and no one can stop her,” a press statement issued by the FM’s personal secretariat.
He said that the PTA and PDA would help start hydropower projects of more than 2000 MW in the near future.
“There will be huge flow of foreign investment in the country. It will not only end the existing loadshedding but also earn billions of rupees exporting power from the country,” he said.
He said that there would be hydropower revolution following the PTA and PDA as it would help bring more foreign investments into the country.
“We should not give eairly talks. The country has hardly harnessed one per cent of the total potential of the country. The bold decisions to sign PTA and PDA will help bring investment in other projects too, which will help bring hydropower revolution in the country,” he said.
He stressed the need for forming few states so that they would be economically viable, administratively accessible and based on national unity.
On the occasion, Minister Mahat said that the agriculture sector had huge potential to bring economic prosperity in the country.
He said that the government had brought special package to provide loan at cheaper price.
He said that the government was ready to support for the development of the tea sector in the country.
“We talked much about the development. But the real campaign has started now. The economic revolution is possible through the best utilisation of agriculture, tourism and hydropower,” he said.

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