KATHMANDU: Kulman Ghising, Managing Director of the Nepal Electricity Authority (NEA), has reported a remarkable achievement of 98.99 percent in work performance for the fiscal year 2023/24.
The performance report, which Ghising submitted to the Ministry of Energy, Water Resources, and Irrigation on Thursday, includes key performance indicators for evaluation.
Ghising’s appointment as NEA’s Managing Director for a second term was made by the Council of Ministers on August 9, 2021, for four years.
Subsequently, a performance agreement was signed between the Ministry and Ghising on January 19, 2022, outlining various reform indicators for the Authority.
Ghising’s performance has been consistently high since taking over the position. In the fiscal years 2021/22 and 2022/23, his performance was scored at 94.23 percent and 98.94 percent, respectively.
His performance is evaluated annually, with Ghising being eligible for an incentive allowance based on the results of these evaluations.
Under Ghising’s leadership, the NEA has witnessed significant financial growth.
In 2023/24, the NEA earned a profit of Rs 14.46 billion. Eight years ago, the NEA had reported a net loss of Rs 8.89 billion. The Authority’s financial turnaround is notable, having shifted from a cumulative loss of Rs 34.61 billion to a cumulative profit of Rs 47.41 billion.
The NEA has also made significant strides in reducing system power leakage. In the last fiscal year, the leakage was reduced to 12.73 percent, an improvement from 25.78 percent eight years ago.
Additionally, the electrification level has improved drastically. In fiscal year 2015/16, the electrification level was only 58 percent, but by 2022/23, it had reached 99 percent.
Ghising has prioritized several critical areas, including improving the financial situation, governance, and electrification.
Key achievements under his leadership include expanding and strengthening transmission and distribution infrastructure to ensure reliable, quality, and safe electricity supply.
Under him the NEA has also advanced large hydropower projects to increase electricity production along with fostering domestic consumption and exporting excess electricity.
Recently, the NEA has placed special emphasis on system automation and technology to address challenges that emerged after Nepal became free from load shedding. The goal is to maintain a reliable and high-quality electricity supply to consumers.
The NEA has continued to receive a ‘Double A Plus’ rating in credit assessments by ICRA Nepal.
Additionally, the NEA has made a significant milestone by transforming Nepal from a net electricity importer to a net exporter. During the last fiscal year, it exported excess electricity to India, earning Rs 17.07 billion.
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