South Asian Business news and information

Two individuals from the district where the project would start filed a petition in the court saying that the construction of such a project requires consent of the two-third law makers. NDTV reports:

However, the group's move to float a joint venture company with the state-owned utility, Nepal Electricity Authority, to develop the project ran into public and legal opposition. Protesters accused Prime Minister Girija Prasad Koirala of selling out Nepal's natural resources under pressure from the Indian government.

Two individuals from the remote districts where the project is located filed a petition against the pact in Nepal's Supreme Court, saying the consent of two-third lawmakers was needed for such pacts.

Gorakh Bahadur B C from Kalikot district and Ram Singh Rawal from Surkhet challenged the MoU signed between GMR and Nepal's water resources ministry, asking for a stay order till the court gave a final decision.

The plaintiffs demanded that a stay order to be given till the final decision of the court. Now, with the decline of the Supreme Court the company received a boost to start the project. 

Along with GMR, another Indian company, Sutlej Jal Vidyut Nigam, bagged two hydropower development projects and now, more than ten companies are bidding for another project. 

The Maoists and nationalist are opposing the two deals but the painful truth is Nepal requires such projects. Starting from the middle of March, Nepal is going to face 11 hours of load shedding per day. At such a critical stage, hydropower is the best solution for the country. I think, Girija Prasad has taken the right step.

Related articles:

NDTV

SouthAsiabiz

SouthAsibaiz (1)