I'll be the First to Purchase IPO of Hydropower Built with Public's Money: PM Oli

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I'll be the First to Purchase IPO of Hydropower Built with Public's Money: PM Oli

February 15: Prime Minister KP Sharma Oli has announced that he would be the first person to purchase the Initial Public Offering (IPO) of the hydropower project to be built with people's money.

Oli said that the IPO will be issued on March 19, exactly 35 days after the public announcement of the project on Thursday.  Oli made such remarks at a programme launched by the Ministry of Energy, Water Resources and Irrigation on February 14 with the theme 'Nepal ko pani janata ko lagani, harek Nepali bidyutko share dhani' (Water of Nepal for people of Nepal, each Nepali a shareholder of hydropower).

PM Oli, however, did not delve into details on how many IPO shares he would like to buy but he said he will urge all Nepalis to participate in the programme which aims to tap the water resources of our country for constructing hydropower, reported Rastriya Samachar Samiti (RSS).

PM Oli pledged to accomplish the government's campaign of 'Prosperous Nepal: Happy Nepali' by capitalizing on whatsoever amount of the public's idle fund and investing on the development of hydropower projects in the country.

"We will continue to work on the projects that people deem impossible," RSS quoted Oli as saying.

He also said that the incumbent government was active in mobilizing idle savings or fund in the active sectors like hydropower, RSS further said.

According to him, although Nepal was the first country to generate electricity in South Asia, it could not make strides in the hydropower sector owing to the archaic policy and programmes.

He added that the government has forwarded various hydro projects with the investment of public.

 

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