Minister for Energy, Water Resources, and Irrigation, Pampha Bhusal has announced to bring a new policy to increase power consumption in the domestic market.
Addressing an event in the capital city on Monday, the Minister said industries would be increased and e-vehicles and e-stoves would be promoted to increase electricity consumption in Nepal’s domestic market.
Saying that country’s trade deficit was rising owing to a huge amount of import of petroleum products, Bhusal argued that the import of petroleum products could be a substitute for electricity.
So far in the current fiscal year, the country has imported petroleum products worth Rs 220 billion.
Minister Bhusal also stated that foreign currency could be earned by the country by exporting our surplus electricity.
“In the current fiscal year, 39 megawatts of power is being exported. We are in a position to export electricity worth Rs 2 billion in the current fiscal. In the next fiscal year, around 500 megawatts of power will be exported from which around Rs 12-15 billion will be received. After five years, we will be in a position to export power worth Rs 50 billion-plus,” says Minister Bhusal.
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