January 8: The government has formed a high-level committee to study the feasibility and modality of metro rail service in the Kathmandu Valley.  The committee led by a member of the National Planning Commission (NPC), who looks after the NPC infrastructure has been commissioned to study the issues including development of metro rail service under the public-private-partnership concept and arrangement of viability gap funding from the government’s side.  

A meeting of the Investment Board of Nepal (IBN) held on January 7 chaired by the Prime Minister and IBN Chairman Pushpa Kamal Dahal made the decision to the effect.

Similarly, the meeting decided to waive the 0.2 percent upfront fee for the companies that are in the process of signing Project Development Agreement (PDA) with IBN regarding the development of Kathmandu Valley Solid Waste Management Project.  

“The meeting has also decided to extend the time for the management of financial resources of the Upper Karnali Hydropower Project and Arun-3 Hydropower Project,” reads a press statement by the IBN.

The meeting has directed the Ministry of Energy and IBN to prepare a draft for the development of the proposed Tamakoshi-3 Hydropower Project.

On the occasion, PM Dahal urged all government authorities to work seriously for the development of large hydropower projects.

Meanwhile, IBN Chief Executive Officer Mahad Prasad Adhikari apprised the meeting with the current status of projects of IBN.

Deputy Prime Minister and Minister for Finance Krishna Bahadur Mahara, Minister for Energy Janardan Sharma and Minister for Federal Affairs and Local Development Hit Raj Pandey, Minister for Industry Navindra Raj Joshi, Nepal Rastra Governor Bank Dr Chiranjivi Nepal and National Planning Commission Vice-chairman Min Bahadur Shrestha were among those present in the meeting.