Kathmandu: Prime Minister Pushpa Kamal Dahal 'Prachanda' has unveiled ambitious plans for Nepal's hydropower sector, announcing a landmark agreement with India to export 10,000 megawatts of electricity over the next decade.

Addressing the 22nd annual general assembly of the Independent Power Producers' Association, Nepal (IPPAN), Prime Minister Prachanda urged the private sector to invest confidently in the country's hydropower ventures, highlighting the transformative potential of this initiative for Nepal's journey towards prosperity.

"The forthcoming export of 10,000 megawatts of power will mark a historic milestone in our nation's quest for development," remarked the Prime Minister, emphasizing the significance of the agreement signed with India. He also revealed plans for power trade with Bangladesh through India's transmission lines, underscoring the strategic importance of these partnerships.

Prime Minister Prachanda expressed optimism regarding future agreements with Bangladesh to further expand Nepal's electricity exports. He emphasized the government's commitment to promoting domestic power consumption, citing initiatives to incentivize the use of electric vehicles and appliances as part of efforts to reduce petroleum imports and bolster domestic electricity consumption.

In recognition of the pivotal role played by the electricity sector in driving Nepal's development and prosperity, Prime Minister Prachanda lauded the contribution of the private sector in augmenting power production. He affirmed the government's steadfast support for initiatives aimed at scaling up electricity generation, underscoring the critical importance of this sector in shaping the nation's future.