Projects faced a roadblock when the IPO failed: Karki, the Chairman

The Independent Power Producers' Association (IPPAN) Chairman, Ganesh Karki, stated that over 30 projects have been shelved for an initial public offering (IPO) in the last 14 months. This was said by President Karki on Wednesday during a speech at an event hosted by Ippan and Sevada.

Chairman Karki recently said that an environment should be created to invest in hydropower in Nepal through shares. 

"More than thirty projects have had their intake stopped in the last fourteen months," he declared. Through an initial public offering (IPO), we hope to raise 30% of the investment in hydropower projects. It was not possible to come from the IPO, and even with equity, the projects could not proceed. He claimed that even though he had intended to use an initial public offering (IPO) to obtain 30% of the investment in hydropower projects, the projects were having difficulties at the time the IPO was halted.

President Karki stated that the number of Nepalese who have invested in hydropower shares on the capital market has surpassed 45 million. He further stated that the 1,000 to 5,000 mark has become an investment environment. He added that businessmen are hopeful that action would be taken now that a permanent government has been established.

He added that although there have been a lot of issues lately, businesspeople are eager to grow the hydropower industry. He claimed that the electricity bill will develop hydropower but will deter private sector investment in Nepal, therefore if it passes, the businesspeople should leave.