Chitwan: Shakti Bahadur Basnet, the Minister for Energy, Water Resources, and Irrigation, has assured that a power trade agreement with Bangladesh is on the horizon and will likely be finalized soon.

Speaking to reporters at Bharatpur airport today, he emphasized that the official announcement of the agreement is also expected within this year. Minister Basnet clarified, "Certain details are undergoing formalization, and we are in the final stages. Once the agreement is signed, it will come into effect."

Minister Basnet went on to express that Nepal is making significant strides toward achieving self-sufficiency in electricity during both the dry and monsoon periods. He stated, "We are on the brink of achieving complete self-sufficiency in electricity, which will subsequently resolve many of the existing issues."

He confidently asserted that the problem of excess electricity production during the rainy season and its scarcity during the dry season would soon be addressed. He explained that efforts are being exerted to enhance the distribution system's efficiency by ramping up production.

Highlighting the expansion of electrification coverage from 50 to 90 percent of the area, Minister Basnet asserted that the current challenges would soon find resolution. He optimistically remarked, "The present challenges will be overcome in the forthcoming dry season. The government is executing a comprehensive plan to streamline energy production, transmission, and distribution."

Additionally, the Minister underscored that power trade accessibility has been integrated into the broader plan. He added, "We are also in the process of reforming policies and laws to enhance the effectiveness of these initiatives."