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Prime Minister Pushpa Kamal Dahal inaugurated the field office of the Budhigandaki Hydropower Project amid a program on Wednesday. Budhigandaki Hydropower Project is a 'national pride' project.

The Prime Minister unveiled a copper plaque to formally inaugurate the office.

Prior to this, the Prime Minister took an aerial view of the areas in Gorkha and Dhading vulnerable to the inundation due to the project construction.

He was accompanied by Deputy Prime Minister and Minister for Home Affairs Narayan Kaji Shrestha, Minister for Energy, Water Resources and Irrigation Shakti Bahadur Basnet, former Prime Minister Dr Baburam Bhattarai, federal parliamentarians from Dhading and Gorkha, chiefs and chief ministers of Gandaki and Bagmati provinces, the government chief secretary, the energy secretary and the managing director of Nepal Electricity Authority (NEA).

The government has already established the Budhigandaki Hydro Electricity Company with an authorized capital of Rs 60 billion to undertake the 1200-MW Project of national pride.

Similarly, the government has distributed compensation amounting to Rs 34.3 billion for land acquisition related to the project. The distribution process is in its final phase of completion. Around 50,000 people in Dhading and Gorkha districts will be affected by the project.

The detailed project report for the Budhigandaki Project was prepared by France-based Tractebel Engineering in 2014. The proposed dam will be 263 meters high.

The government said that the project will be developed through the mobilization of internal resources. 

The NEA has its larger chunk of share in the project, according to Company Chief Jagat Shrestha.

The government has decided to publish a notice regarding waiver and amendment in the fees for company registration and capital increment.

A Cabinet meeting held at the Prime Minister's official residence in Baluwatar this morning made the decision to this effect, informed government spokesperson and Minister for Communications and Information Technology Rekha harma.

The meeting also approved the Prime Minister Pushpa Kamal Dahal’s upcoming visit to Italy to participate in the 'United Nations Food System, 2023 Stocktaking Moment' to be organized by the UN Food and Agriculture Organization (FAO) in its headquarters in Italy.

The meeting decided that the PM Dahal-led Nepali delegation will comprise Minister for Agriculture and Livestock Development Dr Beduram Bhusal and others.

Minister Sharma said that the government has appointed Dr Rabi Malla as the executive committee member of the Martyr Gangalal National Heart Centre. 

Dr Malla has been serving the hospital as a medical person.

CPN-UML Chairman KP Sharma Oli left for Cambodia.

A six-member team headed by Oli left for Cambodia last night to observe the election to be held there, informed UML Publicity Department Chief Rajendra Gautam.

The delegation comprises Oli's spouse Radhika Shakya, party's deputy general secretary Bishnu Rimal, Oli's personal secretary Rajesh Bajhracharya.

Chair Oli is scheduled to return home on July 24.

Finance Minister Dr Prakash Saran Mahat has urged Indian investors to spur investment in Nepal with confidence as Nepal is a fertile land for investment and returns perspectives.

In his address to a program hosted by the Gujarat Chamber of Commerce of India in Gujarat on Tuesday, Finance Minister Dr Mahat called for the Indian investors to flow investment in Nepal, informed the Ministry of Finance.

He said Nepal has recently signed an agreement to export 10,000 MW electricity to India which would resultantly incentivize hydropower production in Nepal and also open up several avenues for the industries to supply power in higher quantities.

He further said that Nepal is in a situation to ensure hydro power supply all time at a cheaper price and the goods produced in Nepal also get easy access in India which he said would enable an environment for investment promotion.

Finance Minister Dr Mahat urged the Indian business community to confidently make investment as there is no trouble at policy level in returning the yields to their home country.

Dr Mahat went on to say that there are abundant opportunities for investment in agriculture enterprises, information technology and tourism besides energy production.

The advancement of the information technology sector is gaining momentum in Nepal, Dr Mahat said, adding availability of cheaper human resources can promote competitive market capacity.

Also speaking on the occasion, senior Vice-Chairperson of Gujarat Chamber of Commerce and Industry Sandeep Engineer said the industrialists and entrepreneurs of Gujarat are interested to expand investment and operate business in Nepal and urged the Nepal government to facilitate the process for the same.

At the program, officials of the Finance Ministry and New Delhi-based Nepali Embassy briefed the Indian business community about the scope and potentials of investment in Nepal.