Kulman Ghising: Natural Disasters Should Not Deter Nepal Investment

Kathmandu. Ujyalo Nepal Party Chairman Kulman Ghising has said that a perception should not be created that investment should not be made in Nepal based on the recent natural disaster. Speaking at a program organized by the Independent Power Producers' Association, Nepal (IPPAN), Ghising expressed the view that a negative perception about the investment environment in Nepal should not be created due to natural disasters. He clarified that one should not conclude that investment should not be made based on extraordinary calamities that occur once in thousands or five thousand years. He stated that if the design criteria for hydropower projects are made excessively stringent based on such events, the projects will become economically unfeasible. However, he emphasized that safety aspects should not be ignored during project construction. He said that projects should be constructed with adequate safety standards and sufficient 'safety margin' to ensure they are safe from potential risks such as normal cloudbursts, heavy floods, and flash floods. Speaking at the program, Ghising said, 'Due to this disaster, a perception should not be created that investment should not be made in Nepal. It is not appropriate to create a perception that the investment environment in Nepal is risky based on such extraordinary natural calamities.' Clarifying the design criteria, he added, 'If the design criteria for projects are determined based on an extraordinary event that occurs once in thousands of years, our projects may become economically impractical. However, adequate safety standards and appropriate safety margins must be kept in mind, considering risks such as potential floods, flash floods, and cloudbursts.' Chairman Ghising demanded that the government should announce a special package for hydropower projects under construction in the BhoteKoshi-Trishuli corridor to boost the morale of private sector investors. He emphasized the need for packages including customs exemptions and concessions for investors of private sector projects damaged by floods. He said that in the future, emergency exits should be built in tunnels and powerhouses to allow easy exit for employees. He also expressed dissatisfaction, stating that the Ministry of Energy has not been able to play an effective leading role in rescue and response after the disaster. Speaking about providing relief to investors, he said, 'To boost investors' morale, the government should announce a special package for the BhoteKoshi-Trishuli corridor. I had also met the Prime Minister about this. The Ministry of Energy was supposed to take a lead role in everything from hydropower rescue to all places. There is a question mark as to whether the ministry played as much a role as it should have in this disaster.' Ghising emphasized that everyone should pay attention to the expansion and development of hydropower projects and the energy sector.