KATHMANDU: Prime Minister KP Sharma Oli has called on Nepal’s private sector to invest confidently in the energy sector, emphasizing the importance of self-reliance in executing large-scale infrastructure projects. Speaking at the 25th-anniversary celebration of the Independent Power Producers’ Association of Nepal (IPPAN) during its IPPAN Silver Jubilee 2081, PM Oli stated that Nepal must reduce its dependence on foreign aid for development projects.
“You invest. There’s no need to invite others and give away our rivers,” he said, citing the ongoing challenges faced by the Upper Arun Hydropower Project due to a lack of foreign funding. “We need to mobilize ourselves. The key to success is public participation. Major projects are not being run with foreign assistance but through our collective efforts,” he added.
Gratitude to Private Energy Producers
PM Oli expressed his appreciation for the private sector’s contributions to the country’s development, particularly in the energy sector. “You have chosen to invest in the country, contributing to its development. This shows your national spirit, which deserves respect,” he said. Highlighting Nepal’s significant achievements, he mentioned that over 95% of the population has access to electricity, and studies on green hydrogen are progressing.
Energy as the Backbone of Industrial Revival
Addressing concerns regarding energy consumption and sales, the Prime Minister assured that energy demand would naturally rise with industrial growth. He pointed to the upcoming extraction of iron ore from the Dhauwadi mine as a prime example, stating, “Energy will be crucial for processing iron ore. Without energy, even basic mining tools cannot be used. We need to establish fertilizer factories and revive dormant industries. These efforts require energy, and we must adopt various models to ensure this.”
Criticism of Industrial Mismanagement
PM Oli criticized the mismanagement and overstaffing that led to the downfall of state-owned industries, referencing the Janakpur Cigarette Factory as an example. “A factory designed for 500 employees ended up with 2,700 staff due to political meddling. Overstaffing and frequent changes in government destroyed it,” he said.
The Prime Minister also emphasized the need to balance development with environmental conservation. He questioned the excessive focus on protecting wildlife, such as tigers, at the expense of human welfare. “Nepal currently has 350 tigers. Should we aim to double their numbers while our youth migrate to the U.S.? Protecting tigers while neglecting the welfare of people cannot be justified,” he remarked.
Government Commitment to Investment Security
PM Oli assured private investors that the government would not allow their investments to go to waste. “Policies are meant to facilitate work, not create obstacles. The government is ready to resolve issues in the energy sector. We will ensure that citizens’ investments are secure and productive,” he said.
The Prime Minister’s remarks come at a time when Nepal is seeking to enhance its energy production capabilities to support industrial growth and bolster economic development through domestic and foreign investments.”