Nepal to revise law allowing private sector to engage in electricity trade

Khalid Umar Malik
23 May 2022, 16:27 GMT+10

KATHMANDU, Nepal Nepal is expected to have surplus energy starting this monsoon, which India is eager to buy.
The government is considering revising the law allowing the private sector to engage in the electricity trade after the previous attempt to grant such permission failed.
The Electricity Act of 1992 prohibits the private sector from entering the power trade.

KATHMANDU, Nepal Nepal is expected to have surplus energy starting this monsoon, which India is eager to buy. Still, the Nepali private sector is not yet permitted to engage in power trade.

The government is considering revising the law allowing the private sector to engage in the electricity trade after the previous attempt to grant such permission failed.

The Electricity Act of 1992 prohibits the private sector from entering the power trade. As a result, the Ministry of Energy and Water Resources had previously held inter-ministerial consultations to allow the private sector to engage in domestic and international electricity trading.

Because the current law makes no provision for the private sector to trade in electricity, the private sector demanded that the government provide a way out in any way possible.

As a result, the energy ministry is currently working on a solution that would involve amending the Electricity Act.

Watch latest videos

News RELEASES

Publish news of your business, community or sports group, personnel appointments, major event and more by submitting a news release to India Gazette.

More Information

37 ℃

Fair in New Delhi/Sadfarjung

Business

Section

Wall Street wobbles, all major indices slide, Dow drops 62 points

NEW YORK, New York - The euphoria on Wall Street of late last week was absent on Monday as all ...

May sees 10.7% surge in US home sales

WASHINGTON D.C.: In May, sales of new U.S. single-family homes unexpectedly increased, but this is expected to be temporary, as ...

Pay dispute forces British Airways' staff to OK strike vote

LONDON, England: British Airways' staff at London's Heathrow airport has voted to strike due to pay disputes. Amidst an already ...

Stocks in Asia on the rise, Nikkei 225 jumps 379 points

SYDNEY, NSW, Australia - Stocks across Asia rose on Monday, in a positive start to the week.The U.S. dollar was ...

Toyota reduces July global production goal by 50,000 vehicles

TOKYO, Japan: Amidst semiconductor shortages and COVID-19 parts supply disruptions, Toyota has reduced its July global production target by 50,000 ...

One-third of car sales might be electric by 2028, says analysts

NEW YORK CITY, New York: Electric vehicle (EV) sales could reach 33 percent globally by 2028, and 54 percent by ...

Delhi

Section