Nepal hopes for deal on power trade

“We want better access to India’s markets,” said Finance Minister Dr. Mahat

August 03, 2014 02:12 am | Updated December 04, 2021 11:28 pm IST - KATHMANDU:

Prime Minister Narendra Modi’s two-day visit to Nepal on Sunday is expected to resolve the obstacles to the power trade agreement between the two countries.

The three-member panel consisting of Nepal’s Finance Minister Dr. Ram Sharan Mahat, Mr Bhim Rawal of the CPN-UML and Mr Narayan Kaji Shrestha of the UCPN (Maoist) had prepared a draft of the power trade agreement (PTA) for the two governments’ consideration. They had suggested that two countries come to an agreement only on power trade and its transmission. However, an Indian draft that suggested an integrated approach to Nepal’s power development – including hydropower and other forms of renewable energy – was heavily criticised here, forcing Indian Embassy to issue a clarification. Nepal is awaiting India’s response on the matter.

However, Mr Modi’s visit should not be seen as a failure merely because no major agreement would be signed, the three leaders stressed.

Dr. Mahat, however, said Nepal would draw Mr. Modi’s attention to duties imposed by India on its goods destined for India’s markets. “We want better access to India’s markets,” the Finance Minister said. Nepal exports garments, vegetable fat, vegetable ghee and copper.

He said that India has sought and got Nepal’s support in its bid for seat on the UN Security Council as a Permanent Member, but it needs to “restructure its relations with its neighbours.”

Upendra Yadav, chairman of the Madhesi Janadhikar Forum Nepal, said it would be improper to expect any fundamental shifts in the relations just because there is new government in power in India. Speaking at a discussion on India-Nepal relations organised and telecast live by Avenues TV, Mr. Yadav said Nepal should also forward a draft of the new treaty of friendship and peace by reflecting realities of the modern times. It should cover interests of both the countries, he added.

Top News Today

Sign in to unlock member-only benefits!
  • Access 10 free stories every month
  • Save stories to read later
  • Access to comment on every story
  • Sign-up/manage your newsletter subscriptions with a single click
  • Get notified by email for early access to discounts & offers on our products
Sign in

Comments

Comments have to be in English, and in full sentences. They cannot be abusive or personal. Please abide by our community guidelines for posting your comments.

We have migrated to a new commenting platform. If you are already a registered user of The Hindu and logged in, you may continue to engage with our articles. If you do not have an account please register and login to post comments. Users can access their older comments by logging into their accounts on Vuukle.