KATHMANDU: Discussion on the amendment proposal on ‘Public Private Partnership and Investment Bill-2075’ is underway at the House of Representatives. The government floated the bill with the objective of expediting infrastructure development.
The proposal is registered to widen sphere of the Investment Board Nepal (IBN). This new bill has been brought after the Investment Board Act-2068 BS proved ineffective in practice.
The new bill sets the target to enhance economic growth by mobilizing capital of above Rs 6 billion through public-private partnership concept. It is necessary to mobilize Rs 150 billion to achieve economic growth rate up to nine per cent, according to a source at the Ministry of Finance. Private sector has the capacity to mobilize Rs 100 billion in recent period.
In the meeting, Finance Minister, Dr Yuba Raj Khatiwada said that the new bill has been brought to further broaden the parameter and scope of the Investment Board for achieving economic prosperity through the development of infrastructure. He added that the bill will pave the way for making investment for the development of infrastructure by means of private capital.
Stating that it was necessary to invest in mega projects for achieving high economic growth rate, the Finance Minister believed that the private sector would not be affected because of the foreign investment.
Lawmaker Janardan Sharma said that the government needs to identify large projects and invest in them through the Investment Board, stressing the works to be carried out by the Board should be done through inter-ministry coordination.
Lawmakers Divya Mani Rajbhandari and Gagan Kumar Thapa demanded that leaders of the main opposition parties should be included in the Board. Similarly, lawmakers Bhara Kumar Shaha, Rekha Sharma, Santa Kumar Tharu, Chudamani Khadka, Khem Lohani, Bina Kumari Shrestha and Prem Suwal called for broadening the scope of the Investment Board.
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